BusinessMirror February 24, 2021

BTr targets ₧160-B local borrowings for March

By Bernadette D. Nicolas

T

HE Bureau of the Treasury is aiming to borrow P160 billion from the local debt market next month, higher than the P140 billion programmed in February.

To raise the amount, the Treasury will offer P100 billion in Treasury Bills (T-bills) and another P60 billion in Treasury Bonds (T-bonds), based on the schedule released on Tuesday.

While it retained the 10-year Tbonds on its list of offerings for March, it shifted to offering 7-year T-bonds to replace the 3-year debt papers it offered in February.

National Treasurer Rosalia V. De Leon told the BusinessMirror that the decision to shift to a much longer tenor was prompted by their desire to “take advantage of still relatively low rates.”

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For each of the five auction days for T-bills on all Mondays of March, the Treasury will offer a total of P20 billion in 91-day, 182-day and 364-day tenors.

On the other hand, the Treasury is set to offer P30 billion in 7-year T-bonds on March 9; and another P30 billion in 10-year T-bonds on March 23.

On Monday, T-bill rates across the board picked up as it tracked the movement of US government securities due to “bright prospects” for the $1.9-trillion stimulus package being pushed by US President Joe Biden to cushion the economic impact of the Covid-19 pandemic.

The Treasury is also currently offering 3-year Retail Treasury Bonds (RTBs) with a coupon rate set at 2.375 percent, lower by 200 basis points from 4.375 percent coupon rate of the previous 3-year RTBs sold in February 2020.

The offer period is set to end on March 4, with settlement scheduled on March 9.

Generally considered low-risk investment instruments, RTBs allow investors to earn a fixed interest based on prevailing market rates that are paid quarterly during the term of the bond.

During the rate-setting auction for the government’s 25th RTB offering, the government raised an initial P221.218 billion.

Proceeds from the issuance of RTBs are expected to boost the government’s funds for its Covid-19 response and recovery efforts.

In addition to the new RTBs, the Treasury is also allowing holders of previously issued bonds to exchange and reinvest their bond holdings for the RTB-25.

Last month, Finance Secretary Carlos G. Dominguez III said they expect the national government’s debt this year to reach 57 percent of GDP as the country aims to borrow a total of P3.03 trillion, roughly the same amount it borrowed in 2020.

To cover the expected doubling of the budget deficit, as well as to fund spending requirements for its Covid-19 response, the government even ramped up its borrowing program last year to an all-time-high P3 trillion from P1.4 trillion originally.

In 2020, the government also 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.

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A broader look at today’s business

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Wednesday, February 24, 2021 Vol. 16 No. 136

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DATA CHAMPION

P25.00 nationwide | 2 sections 18 pages | 7 DAYS A WEEK THE Philippine Postal Corporation (PHLPost) has landscaped the historic Manila Central Post Office Building, transforming its public space into a vibrant, eco-friendly and sustainable government center. The Manila Central Post Office Building has been declared an “Important Cultural Property” by the National Museum and is considered the grandest building and most prominent landmark and tourist attraction in the City of Manila. The neoclassical building was inaugurated in 1931, and designed by Filipino architect Juan Arellano, who was also behind the Manila Metropolitan Theater and the old legislative building (National Museum). PHOTOS COURTESY OF PHLPOST

‘VACCINE-BEFORE-MGCQ

WILL DELAY RECOVERY’ I

By Elijah Felice Rosales & Tyrone Jasper C. Piad

NDUSTRY leaders said on Tuesday keeping the nation’s capital under general community quarantine (GCQ) after one year of lockdown until Covid-19 vaccines are administered risks deepening the economic malaise. They expressed belief that President Duterte’s judgment call to reject the economic managers’ recommendation for a March 1 nationwide modified general community quarantine (MGCQ) could have considered how badly mobility restrictions are hindering the hoped-for recovery.

This, as an economist counseled against an over reliance on easing mobility restrictions to spur the economy, which he projected as still in contraction in the first quarter but posting base-effect recovery in the second.

Relaxing lockdown restrictions further will not do much to prop up the economy as the public remains conservative in spending their money during a recession, ING Bank Manila Economist Nicholas Antonio T. Mapa said in a statement on Tuesday.

Continued on A2

PHL rank in ’21 Women, Business, Law index dips

By Cai U. Ordinario

T

HE Philippines’s performance in the Women, Business and the Law 2021 declined slightly, according to the World Bank.

Data from the report showed that the Philippines now scored an average of 78.8 out of 100 in the 2021 report, lower than the 81.3 score it posted in 2020.

The country shares the same score as Azerbaijan, the Democratic Republic of Congo, Kiribati and Tajikistan. The

scores of these countries and the Philippines are still above the global average of 76.1 out of 100.

“Despite progress in many countries, there have been troubling reversals in a few, including restricting women’s travel without the permission of a male guardian. This pandemic has exacerbated existing inequalities that disadvantage girls and women, including barriers to attend school and maintain jobs,” David Malpass, World Bank Group president, said.

“Women are also facing a rise in

PESO EXCHANGE RATES n US 48.5620

domestic violence and health and safety challenges. Women should have the same access to finance and the same rights to inheritance as men, and must be at the center of our efforts toward an inclusive and resilient recovery from the Covid-19 pandemic,” he added.

The scores of the economies were derived from eight indicators which “coincide with the various milestones a typical woman might experience or achieve in her lifetime.” These indicators are mobility, workplace, pay, marriage,

parenthood, entrepreneurship, assets and pension.

The Philippines’s score was only 60 out of 100 in terms of marriage, parenthood and assets. The country’s score was 75 out of 100 in mobility and pension, but the Philippines scored 100 in workplace, pay and entrepreneurship.

5th in Asean

COMPARED to other economies in Southeast Asia, the Philippines’s score places it at

SENATORS OK COVID VACCINE BILL, HOUSE MAY ADOPT VERSION

By Butch Fernandez

T

HE Senate, voting 22-0, on Tuesday passed on second and third reading in one sitting the Palace-certified Covid-19 Vaccination Program Act in a determined bid to stop the spread of the deadly virus and revive the economy.

Senate President Vicente Sotto III credited Senator Juan Edgardo Angara with shepherding the multifaceted bill that had to be crafted with inputs from the national and local government, health agencies and the private sector, among others. Sotto remarked on the quick process by which such a comprehensive and complicated bill took only two weeks to be processed.

The House of Representatives, which adopted its version earlier on Monday night, immediately sought a copy of the Senate-approved bill, opening the possibility of adopting the latter in order to avoid having to convene a bicameral conference committee and thus speed up submission of an enrolled bill to the President for signing.

Angara, for his part, credited fellow senators and all resource persons and stakeholders for their inputs, saying this ensured the speedy passage.

“We have done our part,” Senate Majority Leader Miguel Zubiri said, following the quick floor vote without any hitch.

See “Covid,” A2

See “Women,” A2

n JAPAN 0.4622 n UK 68.3122 n HK 6.2634 n CHINA 7.5120 n SINGAPORE 36.7532 n AUSTRALIA 38.4368 n EU 59.0417 n SAUDI ARABIA 12.9492

Source: BSP (February 23, 2021)

News A2 Wednesday, February 24, 2021

Women…

Continued from A1

5th place in the region. Lao PDR posted the highest score at 88.1 out of 100 followed

by Timor Leste at 83.1; Singapore, 82.5; and Vietnam, 81.9.

The rest of the economies in the region scored lower than the Philippines.

Thailand scored 78.1 out of 100; Indonesia, 64.4; Myanmar, 59.4; Brunei Darussalam, 53.1; and Malaysia, 50.

“Countries need to create a legal environment that enhances women’s economic inclusion, so that they can make the best choices for themselves and their families,” Mari Pangestu, managing director of World Bank’s Development Policy and Partnerships, said.

Despite the pandemic, 27 economies in all regions and income groups enacted reforms across all areas and increased good practices in legislation in 45 cases during the year covered, the report found. The greatest number of reforms introduced or amended laws affecting pay and parenthood.

A total of 10 economies—Belgium, Canada, Denmark, France, Iceland, Ireland, Latvia, Luxembourg, Portugal and Sweden—scored 100, meaning that women are on an equal legal standing with men across all areas measured.

Of the 39 economies with scores higher than 90, at least 28 are OECD high-income economies, and seven are in Europe and Central Asia. The remaining four are in Latin America and the Caribbean, East Asia and the Pacific, and Sub-Saharan Africa.

However, the report said no economy in the Middle East and North Africa or South Asia scored 90 or higher.

BusinessMirror

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Covid…

Palace: NG will help LGUs remaining under GCQ status Continued from A1

M

ALACAÑANG said on Tuesday the national government will extend aid to local government units (LGU) in Metro Manila and other areas, which will remain under general community quarantine (GCQ) beyond this month.

This after President Duterte decided to defer approval of the government economic managers’ recommendation to place the entire country under modified GCQ (MGCQ) by March, until the government can start deploying Covid-19 vaccines.

“So assuming if NCR [National Capital Region] and other areas will still be [under] GCQ, then we need to engage with our local chief executives in those areas on how to address the needs of their citizens,” Cabinet Secretary Karlo Nograles said.

“Our economic managers and the different concerned departments and agencies will have to

work around that framework in order for us to address the needs [of the said citizens],” he added.

The National Economic and Development Authority is pushing to ease quarantine restrictions in NCR and other GCQ areas, which stopped the operations of many businesses, subsequently worsening hunger rate, poverty and income loss in the country.

Before reopening more establishments, Duterte wants to first inoculate economic frontliners to minimize the potential spread of infection.

The inoculation drive is expected to start in the next few weeks once the donated 600,000 doses of Chinese pharmaceutical firm Sino-

vac’s vaccine arrive in the country.

Nograles said the possible lowering of the quarantine restriction in GCQ areas may not happen until after the full rollout of the donated Sinovac vaccines is completed.

“The President may also make a decision with regard to MGCQ for the entire country at any given point…within the month of March,” Nograles said.

Mayors back Duterte move

MEANWHILE, Metro Manila mayors supported Duterte’s decision to keep the NCR under GCQ. “As what we have always emphasized, the Metro Manila mayors would always defer to the wisdom and judgment of the President,” Metropolitan Manila Development Authority chairman Benjamin Abalos Jr. said.

He added, “We are one with him [the President], and would exert all efforts and rally behind him in combating this Covid19 pandemic.”

San Juan City Mayor Francis Zamora said he is grateful to the President. “The President’s state-

ment is in line with my vote during the Metro Manila Council meeting to keep Metro Manila in GCQ to ensure that the cases are kept as low as possible—minimize transmission and prevent more deaths.

Public health and safety are of utmost importance,” Zamora said.

He said that the national and local governments are doing everything possible to minimize the impact of the GCQ on the economy and the people’s livelihood.

Pasay City Mayor Emi CalixtoRubiano urged Pasay residents to strictly observe minimum public health standards after a 23-yearold mother and her 4-month-old baby tested positive for Covid.

Rubiano said the mother and baby were transferred to a facility.

She reminded her constituents to observe the EMI habit—Ensure to always wash your hands, Mask is a MUST, and Implement physical distancing.

The Covid-19 cases in the country surged to 564,865 as of 4 p.m. of February 23.

Samuel P. Medenilla & Claudeth Mocon-Ciriaco

PCCI BOOSTS PHL-ISRAEL INNOVATION, AGRITECH TIES

PCCI President Ambassador Benedicto V. Yujuico and Israeli Ambassador to the Philippines Rafael Harpaz recently met to discuss new initiatives that will strengthen the cooperation between Philippine and Israeli companies in the areas of innovation and agri-technology.

Israel is one of the leading countries in the world in innovation and new technology and the Philippines can learn from it, especially in developing the country’s agriculture sector, both officials agreed.

Yujuico gave Harpaz a tour of the PCCI Innovation Center, which is envisioned to provide the Filipino youth and tech startups the opportunity to learn in-demand skills such as in AI, Robotics, Cloud Technology, Internet of Things, and Blockchain, among others.

PCCI chairman emeritus and officer in charge for international affairs Ambassador Francis Chua also attended the event.

Photo shows (from left) PCCI PH-Japan Business Council chairman JP Yujuico, PCCI secretary general Ruben Pascual, PCCI vice chairman for American affairs Jesus Varela, PCCI honorary president and chairman for HRDF Alberto Fenix Jr., PCCI president Yujuico, Ambassador Harpaz, Israeli Embassy’s deputy head of mission Nir Balzam, Israeli economic and commercial mission chief Tomer Heyvi, PCCI director for innovation Perry Ferrer and PCCI vice chairman for European affairs Jesus Co at the PCCI Innovation Center at 8 Meridian Avenue, 11/F Double Dragon Meridian Park, corner Macapagal Avenue, Bay Area, Pasay City.

‘Vaccine-before-MGCQ will delay recovery’ Continued from A1

“Moving to relax restrictions will only have a modest impact on overall spending as the more likely impediment to consumption is the lack of consumer confidence,” Mapa said.

Meanwhile, public and private leaders polled by the BusinessMirror said the government should not wait for the vaccine rollout to take place before lifting restrictions on mobility and business. They argued it is difficult for the economy to recover when quarantine measures are hindering various sectors from operating.

Legislative-Executive Development Advisory Council Private Sector Representative George T. Barcelon said the President’s decision to keep Metro Manila under GCQ will reduce chances of recovery this year.

At the Cabinet meeting on Monday, Duterte rejected the economic team’s proposal to place the entire Philippines under modified GCQ. The President, his spokesman said, wants the vaccines to come in first before easing restrictions further.

“This will dampen the recovery and make our economy more precarious,” Barcelon explained in a text message.

“I suggest relaxing the agerestriction field and expand more public transportation for commuter

convenience. While the mass inoculation is still many months to wait, [the government should] focus on improving the prophylactics and other palliatives to allay the fear of being infected to gain public confidence,” he added.

For Barcelon, policymakers should not wait for the vaccines to come given the delays they may endure in the procurement process, and must instead enforce medical programs that will boost individual immunity and, in turn, confidence to go out.

Francisco S. Zaldarriaga, president of the Philippine Ecozones Association, added that the impact of retaining GCQ in Metro Manila on firms depends on the availability of transport units. As echoed by many business groups, employees find it difficult to reach their workplaces given the limited capacity permitted in public transport vehicles.

“If ecozone is in a GCQ area, the effects will be to the extent of the locator employee’s ability or inability to move from home to work and vice versa,” Zaldarriaga said.

100,000 ecozone workers

CHARITO B. PLAZA, director general of the Philippine Economic Zone Authority, admitted at least 100,000 workers of the 1.6 million employed in locator firms have yet to return to

site. Primarily, she disclosed there are factories ordered to shut down for the meantime in compliance with the granular lockdowns imposed by local governments.

Likewise, some 14 percent of industries doing business in economic zones have yet to reopen their plants due to a lack of raw materials and decline in buyer demand.

Plaza reported a few firms find it costly to source shuttle services and rent housing for their workers as required by the government to protect the labor force from the virus. Otherwise, she concluded the Chief Executive’s decision to sustain GCQ in Metro Manila will not affect her agency’s performance this year.

Business groups have been asking the government to authorize all establishments to reopen to allow the economy to recover from the declines it suffered last year.

The Philippine economy in 2020 endured its worst decline since 1947, as GDP slid 9.5 percent on the closure of commerce and trade in the second quarter. As of October, official data showed more than 3.8 million Filipinos are unemployed in a time of economic crisis.

‘Not enough to boost economy’

REGARDLESS of the President’s decision not to ease restrictions in the NCR,

ING’s Mapa said discretionary spending is not anticipated to pick up given the current situation.

The economist noted that the footfall and vehicular traffic have bounced back following the gradual reopening of the economy in the past months. However, he argued that malls and restaurants were not able to max out the prescribed capacity restrictions because a safety-conscious public prefers staying at home.

He pointed out that consumer confidence remains poor in the Philippines, given the high unemployment rates and anxiety over catching the virus.

“People are not spending because they do not have a job or are not as confident in employment prospects to warrant shopping for pseudo luxury items and cheap thrills during a recession,” he explained. “People are not out and about because they fear the virus and crave access to a credible vaccine and not because the malls close at 7 pm instead of 9 pm.”

On the other hand, Mapa said the “scarring effects”—including the joblessness and business shutdowns—of the pandemic will likely be deepened if the solution to aiding the economy is through easing of lockdown protocols.

He stressed that the economy is no longer on “pause” and a “mean-

ingful” solution is required so the Philippines will return to its prepandemic levels.

“Authorities continue to believe that relaxing restrictions will unleash potent consumption like a racehorse charging out of the gates. Instead, once mobility curbs are relaxed, we will see the once formidable stallion limp out to the track, bearing deep and lasting scars from the ongoing recession,” the economist explained.

Q2 recovery

WHILE the economy is expected to contract still in the first quarter, Mapa said that a base-effect recovery will be seen by the second quarter but noted that it may “gradually fade.”

“We continue to believe that growth momentum will be subdued, regardless of type of [community quarantine], with consumer confidence shot with the vaccines still out of reach,” he said.

“The one true antidote to the lack of confidence would be the vaccine procured by the government as this would generate GDP momentum via increased government expenditure while simultaneously curing Filipinos’ anxiety tied to catching the virus,” he added.

A stimulus program, citing Bayanihan 3, will help to jumpstart the labor market to support household spending anew, Mapa explained.

The P420-billion Bayanihan measure recently received support from over 220 lawmakers in the House of Representatives. The bill aims to boost recovery efforts for the economy, which contracted by 9.5 percent last year.

“The once proud stallion can ride as he did before, with a healthy dose of vaccination and a shot in the arm (or leg) strong enough to make him look past all the scars on his back,” Mapa concluded.

In sponsoring Senate Bill 2057, Angara was assured the awaited immunization of the population would be fast-tracked after enlisting support across the aisle with the majority and minority senators’ full backing for the vaccination program bill.

Early enactment of the enabling legislation upon its signing into law by Duterte would then facilitate the procurement of vaccines by the government, he added.

Angara said speedy approval of the measure will “remove the obstacles to the delivery of some of the first doses of Covid-19 vaccines to the country and hasten the inoculation of Filipinos across the country.”

The senator, in a statement, acknowledged that “the entire nation is eagerly waiting for the start of the vaccination program that carries with it the promise of immunization from the Covid-19 virus that has caused so much hardship and pain to all Filipinos over the past year.”

With the measure, “we hope to see the start of the inoculation of our population, starting with the priority sectors, at the shortest possible time,” Angara added, recalling that “we as a people have lost so much because of the pandemic—in terms of jobs, opportunities and human life.”

As soon as the bill is enacted into law, the national government, local government units (LGUs) and the private sector will be authorized to procure vaccines through the National Task Force Against Covid-19 (NTF) and the Department of Health (DOH), Angara said.

He confirmed that LGUs will likewise be authorized to directly procure the ancillary supplies and services necessary for the storage, transport and deployment of the vaccines.

The senator noted that a significant number of LGUs have started preparing for the rollout of their respective vaccination programs and are waiting for the enactment of the bill in order to exempt them from the legal requirements regarding the procurement of goods.

Angara said among the laws covered by the exemption are Republic Act 9184 or the Government Procurement Reform Act, Presidential Decree 1445 or the Government Auditing Code of the Philippines, and the Local Government Code.

He pointed out that the enabling law will “provide legal cover to the LGUs, many of which have intimated to us their concern about possible adverse findings by the Commission on Audit and even graft cases that may be filed against their officials.”

Angara also gave assurances that for the private sector, their procurement of vaccines will also be done in cooperation with the DOH and NTF, through a multiparty agreement.

Moreover, a National Vaccine Indemnity Fund will be established to compensate any individual inoculated through the Covid-19 vaccination program, in case of death or for the treatment of possible severe adverse effects.

The law provides a total of P500 million sourced from the Contingent Fund of the 2021 General Appropriations Act to augment the existing funds of the Philippine Health Insurance Corporation as the administrator of the indemnity fund.

“The indemnity fund will cover the indemnification agreements with vaccine manufacturers, which NTF has started fulfilling. This removes a major stumbling block to the delivery of the vaccines to the country,” Angara said.

The lawmaker listed another provision of the bill that will help bring in more Covid-19 vaccines and other critical supplies to the country: the exemption of the purchases and importations of these from taxes and duties.

The version approved on Tuesday was the product of bills filed separately

by Angara and Senator Imee Marcos, aimed to exempt procurement of Covid-19 vaccines and the necessary supplies for their storage, transport and distribution from customs duties, value-added tax, excise tax, donor’s tax and other fees and charges.

In addition, vaccination cards will be issued by the DOH, LGUs and private entities to individuals who have been vaccinated. The vaccination cards will contain basic information about the individual; the manufacturer and brand of the vaccine administered; date of vaccination; date of last RTPCR testing; and the names of the facility where the vaccine was received and the health professionals who administered the vaccine.

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The Nation BusinessMirror

Sulu sweep leads to arrest of would-be women suicide bombers over the weekend

By Rene Acosta @reneacostaBM

A

JOINT police and military team has arrested nine women whom they tagged as “potential suicide bombers” in three towns in Sulu over the weekend, the Armed Forces Western Mindanao Command (Westmincom) bared on Tuesday.

The women are either relatives or wives of slain key leaders of the Abu Sayyaf Group (ASG), including Hatib Hajan Sawadjaan, a former commander and the emir of the Islamic State in Mindanao whom the military claimed it had killed in one of the firefights in Sulu last year.

“Our troops together with our partners from the PNP and Intelligence Units conducted a simultaneous implementation of search warrants in Jolo, Indanan and Patikul, all of Sulu at early dawn on Friday,” said Westmincom commander Lt. Gen. Corleto Vinluan Jr. “This led to the apprehension of nine female potential suicide bombers who are related to some of the notorious leaders and members of the Abu Sayyaf Group,” he added.

Among the nine, five were arrested in Barangay Bangkal, Patikul and they were identified as Elena Tasum Sawadjaan-Abun alias Iling, 40, daughter of Sawadjaan and widow of ASG sub-leader Walid Abun; Linda Darun Maruji, alias Appuh Yayang, 66, sister of Sawadjaan; Firdauzia Said alias Firdausia Salvin, widow of sub-leader Mannul Said; Risa Jalil, wife of ASG member Nasser Sawadjaan Hadjail, who is a nephew of Sawadjaan, and Sharifa Rajani.

The Westmincom said in an earlier report that its forces have killed Sawadjaan, who took over the reigns of the Islamic State (IS) after the death of Isnilon Hapilon during the siege of Marawi City in 2017, in one of the encounters in Sulu in July last year.

The death of Sawadjaan prompted the military to declare his nephew, Mannul, as the heir-apparent of the IS in Mindanao. Mannul, the military said, was, however, among those killed during a daring operations by the Joint Task Force-Sulu near the Sulare Island in Parang, Sulu in November last year.

Seized from the possession of

the five women were homemade bomb components, including an energizer 9 volt battery with battery snap, one non-electric blasting cap, a backpack, suspected ammonium nitrate fuel oil (ANFO), suspected detonating cord, 2.5 inches GI pipe, 184 pieces of 1-inch concrete nails and two android phones.

Another composite team of soldiers and policemen arrested two other women at Zone 3, Barangay Tulay, Jolo, and they were identified as Nudzha Ismani Aslun alias Nudz/ Akih, 26, widow of an ASG member, and Nurshahada Isnain, 19, wife of an ASG member identified as Akram, one of the trusted followers of ASG sub-leader Mundi Sawadjaan.

Mundi is a nephew of Sawadjaan and one of the architects of the two previous suicide bombings in Sulu, including the Jolo Cathedral bombing.

Recovered from the two women were one push button switch, an Eveready 9 volt battery with battery snap, one non-electric blasting cap, a backpack, a suspected ANFO, suspected detonating cord, 2.5 inches G.I. pipe, 340 pieces 1-inch concrete nails, a hand grenade, a booklet entitled “Jihad Fil Sabilillaah,” several identification cards, and a rough sketch of their terror plan.

Westmincom spokesman Lt. Col. Alatic Avelino delos Santos said another two women were also arrested during another operation target at Barangay Bangkal, Patikul where the operating troops got the two daughters of Sawadjaan, who were identified as Isara Jalmaani Abduhajan, 36, and Jedah Abduhajan-Amin, 28.

Seized from their possession were homemade bomb components, including a push button switch, one energizer 9 volt battery with battery snap, one non-electric blasting cap, a backpack, suspected ANFO, suspected detonating cord, 2.5 inches G.I. pipe, and 265 pieces of 1inch concrete nails.

The nine suspects were all arrested for violation of Republic Act 9516 or the Illegal Possession of Explosives.

Vinluan said that according to one of their informants, the nine women were already being indoctrinated as suicide bombers when they were arrested.

DOJ chief orders NBI to probe deeper into ‘mutation’ of pastillas scam in BI J

USTICE Secretary Menardo Guevarra on Tuesday directed the National Bureau of Investigation (NBI) to expand and dig deeper into the reported resurgence of anomalies in the Bureau of Immigration (BI) after it was disclosed that a new version of the corruption scheme dubbed as “pastillas” scam has cropped up anew in the bureau.

Guevarra specifically ordered NBI agents to unmask BI officials who are in cahoots with “fixers” of foreigners wanting to enter the country without going through the usual protocols.

Guevarra said the investigation

By Roderick L. Abad

Contributor

A

@rodrik_28

S part of its 38th founding anniversary, the National Kidney and Transplant Institute (NKTI), together with Baxter Healthcare Philippines Inc. (BHPI), inaugurated on Tuesday a new building that offers a comprehensive full-service facility for peritoneal dialysis (PD) patients.

Called the NKTI-Baxter Peritoneal Dialysis Center of Excellence, the joint venture is an innovative public-private partnership program realized at the on-

set of a global pandemic when safe and convenient therapy is much needed by people with chronic kidney disease.

“PD first remains the policy of NKTI. We want to put more patients on this type of dialysis that is affordable, accessible and financially sustainable by the government,” Dr. Romina Angangco-Danguilan, deputy executive director for medical education, training, and research at NKTI, told the BusinessMirror in an e-mail interview. “This is another milestone for the NKTI to serve our more than 800 patients on PD.”

would include officials or employees of the BI who may be involved in the illegal entry of foreigners.

“I have directed the NBI to expand its investigation of fixers’ activities at the BI and find out who their cohorts among BI personnel so that appropriate administrative and criminal charges may be filed against them,” Guevarra added.

The justice chief issued the order after the NBI apprehended last February 18, 2021 a former law firm employee for allegedly receiving P900,000 from three Chinese nationals to facilitate their entry

into the country.

The suspect identified as Vivian Lara was arrested after she reportedly received marked money in the office of BI lawyer Arnulfo Maminta in Intramuros, Manila.

NBI special task force chief Gerald Geralde earlier said the new scheme involves Chinese citizens doling out bribe money in advance for the processing of their travel documents.

Earlier, Sen. Risa Hontiveros had asked the NBI to investigate the new version of the pastillas scam, which she likened to the coronavirus 2019 that has the capability to “mutate.”

The NBI had previously arrested and charged with robbery-extortion, violation of the anti-graft law and other criminal cases Joshua Paul Capiral, legal assistance chief of the NBI and his brother Christopher John for their alleged involvement in the pastillas scam.

Since 2016, BI had either suspended, dismissed and dropped from the rolls 176 personnel for their involvement in various irregularities.

A total of 86 BI personnel, on the other hand, were relieved for their involvement in the pastillas scam.

Joel R. San Juan

Guevarra: I’ll take de Lima’s suggestion to prosecute Capones ‘under advisement’

J

USTICE Secretary Menardo Guevarra on Tuesday said the justice department would look into the suggestion of detained Sen. Leila de Lima to prosecute for illegal drug trade one of the witnesses in the drug case filed against her before a Muntinlupa regional trial court (RTC).

De Lima was referring to Joel Capones, an inmate at the New Bilibid Prisons (NBP), who was presented as one of the prosecution witnesses before the Muntinlupa City RTC, Branch 205 in connection with one of the drug cases filed against her.

In her letter to Guevarra last February 22, de Lima noted that Capones testified in the witness stand that he, together with his 13 “majors” in Sigue Sigue Sputnik, committed illegal drug trading within the NBP from January to October 2014.

Capones claimed that fellow NBP inmate Jaybee Sebastian prodded him to engage in illegal drug trading to raise funds to support the senatorial bid of the former justice secretary.

Capones admitted that he indeed transacted illegal drugs or shabu to heed the directive of Sebastian because he was convinced and impressed with the latter’s ap-

NKTI, Baxter launch new peritoneal dialysis facility

PHOTO shows (from left) Dr. Hileen Riego Javier, former executive director, National Kidney and Transplant Institute (NKTI): Dr. Rose Marie Liquite, NKTI executive director; former Health Secretary Dr. Enrique Ona; Health Undersecretary Leopoldo Vega; Dr. Romina Angangco-Dañguilan, NKTI deputy executive director for training, education and research and Dr. Joselito Chavez, deputy executive director for medical services during the inauguration of new peritoneal dialysis complex in partnership with Baxter Healthcare Philippines Inc. NONOY LACZA

Editor: Vittorio V. Vitug • Wednesday, February 24, 2021 A3

Located at the NKTI grounds, the 1,000-square-meter building houses a two-story warehouse that has a capacity to accommodate 60,000 bags of PD solutions and accessories for more than 700 patients per month.

Such storage area, according to her, is of big help since the bulk orders for these medical supplies consume a lot of the hospital’s warehouse space.

Patients who are trained to perform the dialysis themselves in the comfort and convenience of their own homes, come to NKTI every two weeks to pick up 42 PD solutions and caps for their treatment. “[So] they have this new building housing adequate dispensing areas, and soon to open are clinical areas for PD training enhancement and more,” Dr. Danguilan said.

The complex features a queuing system, making the process of claiming these life-saving fluids more efficient for patients on continuous ambulatory PD. With this latest innovation, they just need to key in the purpose for claiming, whether for the PhilHealth’s PD First Z Benefit Package amounting to P270,000 per year or using financial assistance from the Department of Health or other agencies.

Once their names are called as reflected in the monitors above the counters, they shall proceed to the different steps they require—from assessment, charging, payment and releasing of their PD solutions for home use.

parent strong influence with the previous administration, particularly with de Lima.

Capones narrated that in March 2014, during the anniversary of the Commando Sigue-Sigue organization, he delivered the amount of P1.4 million to Sebastian as quota payment of the shabu drugs

that he sold.

Capones claimed that he personally witnessed Sebastian handed over to de Lima the P1.4 million that he delivered to the alleged drug lord.

However, de Lima pointed out that despite his claim, Capones was not included as an accused in the said drug case or any drug case for

that matter.

“It is ironic that despite the Duterte administration’s supposed dedication to the ‘war on drugs,’ convicted felons are still able to appear and testify under oath that they in fact committed illegal trading and yet remain free from prosecution,” de Lima told Guevarra. Joel R. San Juan

A4 Wednesday, February 24, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

‘Better to err on side of caution’: Solon backs pandemic curbs T

HE government should ensure that the Covid-19 cases in the country stabilize to manageable levels before it begins to ease quarantine restrictions nationwide, the Deputy Speaker for Trade and Industry said on Tuesday.

Deputy Speaker Wes Gatchalian of Valenzuela said it is better to err on the side of caution in easing coronavirus quarantine restrictions rather than hastily ease coronavirus quarantine restrictions in the country.

While the country is poised to receive its supply of Covid-19 vaccines in the coming days, he said, the inoculation of the public does not necessarily guarantee immunity from the virus.

“We support the gradual reopening of businesses to revive our economy, but the safety of our people must always come first,” Gatchalian said.

The lawmaker, citing health experts, said the coronavirus has already mutated into several strains, as he noted that the Department of Health has confirmed 18 more cases of the highly contagious UK variant in the Philippines, bringing the total to 62.

“It is better to err on the side of caution because should another surge in cases occur, we might needlessly flood our almost in full-capacity hospitals to the detriment of the whole health-care system,” he pointed out.

According to the United States Centers for Disease Control (CDC), three variants of the virus that cause Covid-19 are currently circulating globally: the UK, South African, and Brazilian variants. These variants seem to spread more easily and quickly than other variants, which may lead to more cases of Covid-19.

Pfizer earlier said that the South African variant of the coronavirus may reduce antibody protection offered by the Pfizer-BioNTech vaccine by two-thirds.

Health experts have also cautioned the government against easing to the lowest level coronavirus restrictions throughout the country, especially in Metro Manila, after OCTA Research Group last week reported a slight upward trend in Covid-19 cases in the metropolis, with a variant of the virus possibly causing the spike.

OCTA Research said that “if restrictions in Metro Manila are relaxed to very loose levels, the region will be under a constant threat of a surge due to the increased mobility of people, reduced social distancing and diminished compliance with health protocols, as was observed at the outset of the December holidays.”

“Given the current state of Covid-19 based on available data aforementioned regarding the National Capital Region [NCR], the projections and forecasts provided and the reality that the more contagious and lethal [based on new studies] UK variant is already present in the NCR and is possibly spreading in its communities, we urge the national government to defer the consideration of the Neda proposal to shift the region to a modified general community quarantine by March 1, 2021,” the research group stressed.

“While we recognize and support the need to jump-start the economy and create livelihood for our citizens, at this time, the proposal to shift the NCR to MGCQ by March 2021 amidst the backdrop of a more contagious and lethal UK variant spreading in the regions is not just risky but also contrary to sensible epidemic management,” the group added.

Meanwhile, Speaker Lord Allan Velasco has expressed high hopes that the country’s first Covid-19 vaccines will arrive earlier after the House of Representatives unanimously passed on final reading a bill seeking to expedite the government’s purchase and administration of the life-saving shots against the deadly disease.

“We hope the bill will serve its noble purpose of helping the national government hasten the purchase and administration of the vaccine against Covid-19, which already killed more than 12,000 people nationwide and sent the economy into deep contraction,” Velasco said. Jovee Marie N. Dela Cruz

Pope appoints Tagle as member of Vatican central bank–CBCP

C

ARDINAL Luis Antonio Tagle, prefect of the Congregation for the Evangelization of Peoples, has been given a new position by Pope Francis: this time, to help in managing the finances of the Vatican.

In a report in CBCP News, Tagle was appointed member of the Administration of the Patrimony of the Apostolic See (Apsa) last Monday.

Aside from Tagle other newly appointed members of the Apsa include Cardinal Peter Kodwo Appiah Turkson, prefect of the Dicastery for Promoting Integral Human Development.

Apsa, which oversees real estate holdings and other sovereign assets of the Vatican, is currently led by Italian Bishop Nunzio Galantino.

Tagle relocated to the Vatican in February 2020 to head the Propaganda Fide.

His other latest assignments include being a member of the “cardinal bishops,” the highest rank within the College of Cardinals, and the Pontifical Council for Interreligious Dialogue.

Tagle is also the current President of the Caritas Internationalis.

Samuel P. Medenilla

Consumer group nixes reported plan to import cement from Pakistan amid ‘buy local’ drive

A

CONSUMER group has opposed a reported government plan to import cement from Pakistan for the Duterte administration’s infrastructure buildup projects, saying such move is detrimental to the local cement industry, to the country’s economy and to Filipino workers.

“The intention to import $14 million worth of cement from Pakistan clearly shows the government’s misplaced priority,” Lokal Muna-Consumer Protection Watch said in a news statement issued on Tuesday.

“It also shows that the government’s buy local campaign is merely a lip service and just for show to make it appear that it is doing something for local industries,” the statement added.

The group issued the reaction after the Daily Times in Pakistan reported that Philippine Ambassador Daniel Ramos Espiritu told the Faisalabad Chamber of Commerce & Industry (FCCI) that the country is ready to import an initial $14 million worth of cement for the country’s infrastructure development program.

Espiritu said the quantity of cement would be increased gradually.

“We could not fathom why the government has to import cement despite the capacity of local cement producers to meet the demand for its infrastructure projects,” the news statement added.

The envoy’s pronouncement also goes against the government’s campaign to support local industries and patronize local products as stated in the 2021 General Appropriations Act (GAA).

Under the 2021 GAA, the government as procuring entity is mandated to ensure that, whenever practicable, articles, materials, or supplies grown, produced or manufactured in the Philippines shall be preferred and used.

Lokal Muna stressed that there’s no need to import cement as the local cement industry has indicated several times that it can fulfill the demand for the government’s various infrastructure projects.

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

The World BusinessMirror

Wednesday, February 24, 2021

A5

U.S. tops 500,000 Covid deaths, matching the toll of three wars T

he Covid-19 death toll in the US topped 500,000 on Monday, a staggering number that all but matches the number of Americans killed in World War II, Korea and Vietnam combined.

President Joe Biden held a sunset moment of silence and a candle-lighting ceremony at the White House and ordered American flags lowered at federal buildings for the next five days.

“We have to resist becoming numb to the sorrow,” Biden said. “We have to resist viewing each life as a statistic or a blur.”

The half-million milestone, as recorded by Johns Hopkins University, comes as states redouble efforts to get the coronavirus vaccine into arms after last

week’s winter weather closed clinics, slowed vaccine deliveries and forced tens of thousands of people to miss their shots.

Despite the rollout of vaccines since midDecember, a closely watched model from the University of Washington projects more than 589,000 dead by June 1.

The US toll is by far the highest reported in the world, accounting for 20 percent of the nearly 2.5 million coronavirus deaths globally, though the true numbers are thought to be significantly greater, in part because many cases were overlooked, especially early in the outbreak.

The first known deaths from the virus in the US

were in early February 2020. It took four months to reach the first 100,000 deaths. The toll hit 200,000 in September and 300,000 in December, then took just over a month to go from 300,000 to 400,000 and another month to climb from 400,000 to 500,000.

The US recorded an estimated 405,000 deaths in World War II, 58,000 in the Vietnam War and 36,000 in the Korean War. Average daily deaths and cases have plummeted in the past few weeks. Virus deaths have fallen from more than 4,000 reported on some days in January to an average of fewer than 1,900 per day.

But experts warn that dangerous variants could cause the trend to reverse itself. And some experts

say not enough Americans have been inoculated yet for the vaccine to be making much of a difference.

Instead, the drop-off in deaths and cases has been attributed to the passing of the holidays; the cold and bleak days of midwinter, when many people stay home; and better adherence to mask rules and social distancing.

Dr. Ryan Stanton, an emergency room physician in Lexington, Kentucky, who has treated scores of Covid-19 patients, said he never thought the US deaths would be so high.

“I was one of those early ones that thought this may be something that may hit us for a couple months... I definitely thought we would be done with

it before we got into the fall. And I definitely didn’t see it heading off into 2021,” Stanton said.

Krist y S ourk , an intensive - care nurse at Hutchinson Regional Medical Center in Hutchinson, Kansas, said she is encouraged by the declining caseload and progress in vaccinating people, but “I know we are so far from over.”

People “are still dying, and families are still isolated from their loved ones who are unable to be with them so that is still pretty heart-wrenching,” she said.

Snow, ice and weather-related power outages closed some vaccination sites and held up shipments across a large swath of the nation, including in the Deep South.

As a result, the seven-day rolling average of administered first doses fell by 20 percent between February 14 and February 21, according to data from the Centers for Disease Control and Prevention.

The White House said that about a third of the roughly 6 million vaccine doses delayed by bad weather were delivered over the weekend, with the rest expected to be delivered by mid-week, several days earlier than originally expected. White House coronavirus response coordinator Andy Slavitt on Monday attributed the improved timeline to an “all-out, round-the-clock” effort over the weekend that included employees at one vaccine distributor working night shifts to pack vaccines. AP

A4 Wednesday, February 24, 2021 A6

News

BusinessMirror

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SC asked to issue TRO anew vs anti-terror law

By Joel R. San Juan @jrsanjuan1573

P

ETITIONERS seeking to declare as unconstitutional the Anti-Terrorism law have pleaded anew before the Supreme Court for the issuance of a temporary restraining order (TRO) that would immediately stop the law’s implementation.

The plea was made in a joint reiterative motion they filed last Monday, February 22, 2021, particularly seeking for immediate relief through the issuance of a TRO. The petitioners cited several

incidents involving the arrest of several individuals, including some listed petitioners in the 37 petitions against ATA allegedly by police or military forces.

These include the arrest of Chad Errol Booc, a volunteer teacher, and Windel Bolinget, chairman of the Cordillera People’s Alliance, which is one of the ATA petitioners, at the retreat house of the University of San Carlos in Cebu City for allegedly “recruiting and exploiting minors to be trained as child warriors.”

They also cited the threat aired by Lt. Gen. Antonio Parlade Jr. against online journalist Tetch Torres Tupas

for her article on two Aeta tribesmen who were reportedly arrested and charged, among others, with violations of ATA. Parlade has issued an apology to Tupas later.

They also noted the alleged continuous red tagging of activists, including advocacy lawyers, by the military and the police.

The petitioners stressed that based on the investigation conducted by the Commission on Human Rights (CHR) and the Department of Social Welfare and Development (DSWD), there was no evidence of indoctrination to join the commu-

nist movement committed by Booc and Bolinget.

“These supervening events, along with other recent developments…underscore the chilling effect that the ATA exerts on the public, restraining the persons from exercising their freedom of expression and other constitutional rights,” the motion read.

“Such acts are indicative of the government’s spirit of hostility, nor at the very least, discrimination that finds no support in reason with which it will implement the vague and overbroad terms of the ATA. Thus, petitioners asked for and were granted leave by the Honorable Court

to file the instant joint motion reiterating their extremely urgent plea for injunctive relief to forestall further serious violations of constitutional rights,” it added.

In seeking the immediate issuance of a TRO, the petitioners maintained that ATA violates at least 15 fundamental rights of the people­— on speech and expression, religion, assembly, association, unreasonable searches and seizures, travel, bail, presumption of innocence, information, and torture, among others.

The SC has been holding oral arguments on the petitioners for the past three weeks.

In the past three hearings, the magistrates have so far heard the arguments of the petitioners.

The justices have yet to hear the expert opinion of retired Chief Justice Reynato Puno and retired Associate Justice Francis Jardeleza, who have been appointed as amici curiae (friends of the Court) on the issue.

The scheduled arguments on February 23 have been canceled by the SC after some of the magistrates decided to go on self-quarantine as a health precaution against the coronavirus disease 2019 (Covid-19).

It set the continuation of the oral argument on March 2, 2021.

DHSUD allows contractors to defer filing of proof of compliance in BHDP

By Cai U. Ordinario @caiordinario

T

HE Department of Human Settlements and Urban Development (DHSUD) has allowed contractors to defer their submission of the so-called proof of compliance to the Balanced Housing Development Program (BHDP) in a bid to streamline its processes.

In a news statement, DHSUD said a new department order will expedite the issuance of licenses to sell (LS).

Prior to the latest order, developers are required to submit this requirement before a project starts.

With this, developers can submit a certificate of registration (CR) or

LS and apply for its accreditation within the first half of the time of completion provided in the LS of the main project.

“We are enforcing [this] to minimize the adverse impact of the ongoing crisis to the housing sector. Through this, we aim to ease the financial impact of the Covid-19 on the real-estate business, stimulate construction activity, while promoting employment to help our economy recover from the health crisis,” DHSUD Secretary Eduardo del Rosario said.

The new rules, referred to as the “Deferment of Compliance in Light of the Covid-19 pandemic,” will cover all subdivision and condominium projects required to

We are enforcing [this] to minimize the adverse impact of the ongoing crisis to the housing sector. Through this, we aim to ease the financial impact of the Covid-19 on the real-estate business, stimulate construction activity, while promoting employment to help our economy recover from the health crisis.

DHSUD Secretary Eduardo del Rosario comply with the BHDP. This also includes all socialized housing in a new settlement, joint-venture socialized housing

Will Senate do Cha-cha with House? Not now continued from a10 “We will respect the decision of the Chairman and wait when a committee report is filed and presented in plenary,” Lacson added, referring to minority Senator Francis Pangilinan, who chairs the Senate Committee on Constitutional Amendments and Revision of Codes and Laws.

Pangilinan conveyed in a text message to BusinessMirror that “we will be conducting additional hearings,” indicating that the controversial proposal to tinker with the 1987 Charter is not yet ripe for plenary consideration any time soon.

For his part, administration Senator Ronald de la Rosa expressed hope the Senate would follow suit as the House of Representatives has started plenary deliberations to amend the economic provisions of the Constitution.

“If I have my way, I will, since I am one of the authors,” he added, referring to an earlier measure on Charter change which he cosponsored.

House ‘constituent assembly’

EARLIER, the House of Representatives, citing its “constituent powers,” kicked off plenary deliberations on proposals to amend what they deem restrictive economic provisions of the Constitution.

In sponsoring the Resolution of Both Houses Number 2 (RBH 2), Committee on Constitutional Amendments Chairman Alfredo Garbin Jr., House Committee on Ways and Means Chairman Joey Sarte Salceda and Marikina Rep. Stella Luz Quimbo cited

the urgency to amend the 1987 Constitution to attract foreign direct investments, which badly needed to rebuild Philippine economy shattered by the Covid-19 pandemic.

“With your indulgence, allow me to share estimates from the Department of Finance, which shows that by 2030, if we achieve FDI levels similar to even the most conservative case, namely that of Myanmar, our GDP performance will be 7.9 percentage points higher than where it would be if we make no changes to the investment regime,” he said.

“Investments would be a staggering 10.3 percentage points better than baseline by 2030. Real wages would improve by 5 percentage points more during the same period,” he added.

Salceda said his estimates show that the country stands to gain a total of 6.6 million jobs, if Congress immediately follows RBH 2 with the right enabling laws.

Citing the Organisation for Economic Co-operation and Development or OECD, Salceda said foreign ownership restrictions in the law represent the No. 1 barrier to foreign investment.

Garbin said amending the Charter is important in order to give government the freedom to adopt measures that will pave the way for economic development.

“It is wise for Congress to amend the Constitution by adding the phrase ‘unless otherwise provided by law’ in order to give the govern-

ment enough flexibility to consider different circumstances prevailing at different stages our road to economic development before formulating policies that should be time bound,” he said.

Quimbo said the need for foreign direct investments became even more urgent as a result of the pandemic.

“As cases began to climb, we imposed restrictions through varying degrees of community quarantine; businesses closed, employees were retrenched; one year later, on January 28, the PSA announced that our economy contracted by 9.5 percent, the steepest economic downturn in our postwar history, and the worst performance in the Asean thus far,” she said.

“Based on my ow n rev iew of existing literature, 122 out of 167 journal articles provide evidence to support that a more liberal policy can increase our capital, firm productivity, government revenues, GDP growth, and employment. All these are important pathways to reducing income inequality and poverty,” Quimbo said.

“It is not a free pass. By including the phrase ‘unless otherwise provided by law,’ the measure provides flexibility to these economic provisions, but still allows the legislature to address the fear of some of our countrymen that we will be inundated with foreign businesses, to the detriment of local industry,” she added.

Butch Fernandez, Jovee Marie N. Dela Cruz

ASF spreading in E. Visayas, Bicol towns–govt report continued from a10 Dar said they plan to shoulder “the hog insurance for 5 million hogs to be repopulated, that is about P740 million.”

This, Dar added, “will now be the indemnification for the backyard and commercial raisers. We will only subsidize the commercial raisers, while backyard raisers do not have to pay a premium as long as they are registered in the RSBSA [Registry System for Basic Sectors in Agriculture]. This will encourage commercial hog raisers to repopulate,” Dar added.

Based on Dar’s presentation,

it would cost a total of P1.48 billion to insure 5 million pigs, comprising 1 million breeders and 4 million pigs.

Dar said the government will shoulder half of the total cost while the remainder would be paid by the commercial raisers.

Insurance coverage for a fattener is up to P10,000 with a 2.25 percent premium, while breeders are insured for P14,500 at a 4 percent premium payment, according to Dar’s presentation.

On top of this, Dar said they proposed refinements on livestock insurance to include pigs killed

BM

by African swine fever (ASF) and those that were culled on government orders.

Dar proposed that the terms for livestock insurance include a “waiver provision disallowing indemnity payment if hogs are culled or killed as ordered by the government, either by an administrative order or just a slaughter order.”

Dar added that they also proposed to increase the indemnification to 100 percent from the current 60 percent if the pigs are affected by the ASF pandemic.

projects with local government units, housing agencies and nongovernment organizations.

The DHSUD also said the new

rules will cover undertakings by the community mortgage program through land development and those involving the purchase of AssetBacked Securities.

Subdivision and Housing Developers Association Inc. (SHDA) President Rosie Tsai said they are thankful to the DHSUD for the deferment.

The deferment will allow them to complete projects faster and at more efficient costs.

“We can undertake financially viable projects faster with this deferment,” Tsai said.

She added that the deferment will also allow developers to prepare for or avoid possible price increases that could occur between the time

they begin a project to the time they complete it because they can finish projects early.

Meanwhile, Philippine Institute for Development Studies (PIDS) Vice President Marife M. Ballesteros told the BusinessMirror that the BHDP is in itself a hindrance to the development of the housing sector.

“The balance housing is a tax on land development [and] should be scrapped. [It would be] better to use direct tax on development and on property ownership,” Ballesteros said in a message.

The proceeds from direct taxes, Ballesteros added, could then be used by the government to finance socialized housing projects.

DPWH chief reports completion of 3 infra projects in the regions

T

HE Department of Public Works and Highways (DPWH) reported on Tuesday that it has recently completed and handed over a new P12.5-million isolation and quarantine facility to the city government of Kabankalan City, Negros Occidental, completed a 425-meter flood-control project in Macrohon, Southern Leyte and had finished the construction of two multipurpose buildings to serve indigenous people (IP) in the province of Bukidnon.

Public Works Secretary and Chief Isolation Czar Mark A. Villar said that the newly constructed healthcare facility in Negros Occidental was built on a 348-square-meter lot in Kabankalan City Hospital located in Barangay Tabugon through the implementation of DPWH Negros Occidental 3rd District Engineering Office, backed by the DPWH Regional Office 6’s (DPWH-RO 6) fiscal year 2020 Special Purpose Fund.

The facility is composed of a 16-room (container van) building, furnished with individual airconditioning units and comfort rooms for patients; a provision of

separate quarters for male and female nurses with two double-deck beds, nurse’s station, utility room, generator/power transformer and water tanks.

“This quarantine facility will serve as temporary shelter for the treatment of Covid-19 related cases, as well as provide shelter for locally stranded individuals in Kabankalan City, who are returning to the city and nearby places, who need to undergo the mandatory quarantine protocol,” said DPWH-RO 6 Director Lea N. Delfinado representing Secretary Villar in a turnover ceremony held recently.

Villar also announced that the DPWH Southern Leyte District Engineering Office has completed a 425-meter flood-control project to mitigate overflowing along Amparo River, directly benefiting Barangays Amparo and Mabini.

“With the completion of this project, the two barangays of Amparo and Mabini are now less vulnerable to flooding. These barangays have suffered extreme flooding during strong typhoons Ruping in 1990 and

Basyang in 2010,” said Villar.

In Bukidnon, the DPWH chief also reported the completion of two multipurpose buildings that now serve the needs of IPs. In a report to Villar, DPWH Region 10 Director Zenaida Tan said that the buildings located in the Municipalities of Impasug-ong and Kitaotao can now be used as venue for learning, meetings and activities, as well as temporary shelter for transients.

The building structures are built with an open hall for gatherings, restrooms, lodging area with rooms and a balcony. It was also complete with plumbing and electrical works for overall functionality.

“Most of the indigenous people live in the highlands of Bukidnon so whenever they visit the town proper, the buildings are available to provide temporary place which are comfortable to stay,” said Villar.

“These structures serve as a concrete expression of the department’s support to preserve the culture and heritage of the indigenous people in Bukidnon,” he added.

DTI-FTEB’s sales promo application goes online

T

HE Department of Trade and Industry’s Fair Trade Enforcement Bureau (DTIFTEB) has launched an online portal dubbed as the Integrated Registration and Information Systems (IRegIS) for its sales promotion application processing.

In a news statement, FTEB said the issuance of sales promotion permits is in compliance with Article 116 of Republic Act (RA) 7394, otherwise known as The Consumer Act of the Philippines, that requires companies conducting sales promotion campaigns, including beauty contests that are national in character, to secure first a sales promotion permit prior to the launching of such campaign.

Adapting to the new normal, the Sales Promotion Division (SPD) of the FTEB, which is mandated to issue sales promotion permits of promotional campaigns in the National

Capital Region, including those with national scope or coverage, launched IRegIS for its sales promotion application processing.

The platform is an end-to-end solution anchored on the government’s Ease of Doing Business and Streamlining programs, as well as healthrelated precautionary measures.

To date, FTEB-SPD has been regularly receiving positive feedback from clients and stakeholders, particularly from companies that are on workfrom-home arrangement on the convenience brought by the online sales promotion application processes, the statement said, adding that the project has gained support and commendation for its convenience.

“For the past six months, it has been really great using the IRegIS. It is very convenient on our part doing the application at home, or in the office, specifically, on the instances that we have to edit or change some-

thing. It’s very time and cost-efficient since we don’t have to go to DTI every time we have a promo. It’s really a good innovation since everything is going digital nowadays,” one of FTEB-SPD’s clients stated.

Due to the unprecedented and distressing economic effects of the pandemic, most companies are ameliorating their promotional activities to stay afloat and keep their businesses going.

“The launching of IRegIS is just one of our many plans and programs in providing a more holistic and seamless processes to both consumers and clients,” FTEB Director Ronnel O. Abrenica said.

“This modernization is our way to become an active and leading partner in driving our country towards an inclusive, dynamic, and thriving economy,” Consumer Protection Group (CPG) Undersecretary Ruth B. Castelo, for her part, said.

BusinessMirror

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ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

8 STONE BUSINESS OUTSOURCING OPC 5/f To 10/f, Tower 4 Pitx #01 Kennedy Road Tambo Parañaque City CHEN, YUEYUAN CHINESE SPEAKING BUSINESS 1.

Chinese DEVELOPMENT ASSOCIATE CHEN, ZHIYUAN CHINESE SPEAKING BUSINESS 2.

Chinese DEVELOPMENT ASSOCIATE GUO, YUJIE CHINESE SPEAKING BUSINESS 3.

Chinese DEVELOPMENT ASSOCIATE HAN, MENGLE CHINESE SPEAKING BUSINESS 4.

Chinese DEVELOPMENT ASSOCIATE BAO, SIXIAO CHINESE SPEAKING CUSTOMER 5.

Chinese SERVICE REPRESENTATIVE DONG, JING CHINESE SPEAKING CUSTOMER 6.

Chinese SERVICE REPRESENTATIVE GAO, YU CHINESE SPEAKING CUSTOMER 7.

Chinese SERVICE REPRESENTATIVE GUAN, LILI CHINESE SPEAKING CUSTOMER 8.

Chinese SERVICE REPRESENTATIVE LIN, YONGCHENG CHINESE SPEAKING CUSTOMER 9.

Chinese SERVICE REPRESENTATIVE CHEN, LU CHINESE SPEAKING DATA ENTRY 10.

Chinese CLERK CHENG, JIYANG CHINESE SPEAKING DATA ENTRY 11.

Chinese CLERK CHENG, GONG CHINESE SPEAKING DATA ENTRY 12.

Chinese CLERK HAN, TINGTING CHINESE SPEAKING DATA ENTRY 13.

Chinese CLERK FENG, YONGQIANG CHINESE SPEAKING PROGRAM 14.

Chinese DESIGNER FU, LIHUAN CHINESE SPEAKING PROGRAM 15.

Chinese DESIGNER GAN, JIEWEN CHINESE SPEAKING PROGRAM 16.

Chinese DESIGNER GAO, YINGHUA CHINESE SPEAKING PROGRAM 17.

Chinese DESIGNER GAO, LU CHINESE SPEAKING PROGRAM 18.

Chinese DESIGNER CUSTOMER SERVICE ESA SUSANTI 19.

REPRESENTATIVE MANDARIN Indonesian SPEAKING CUSTOMER SERVICE GUO, NA 20.

REPRESENTATIVE MANDARIN Chinese SPEAKING HSIAO, GUANG-SIAO CUSTOMER SERVICE a.k.a. HSIAO, HUI-PING REPRESENTATIVE MANDARIN 21.

Taiwanese SPEAKING CUSTOMER SERVICE JIN, JUNTONG 22.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE LI, BO 23.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE LI, TINGTING 24.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE LU, WENCHAO 25.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE MOE MOE AYE 26.

REPRESENTATIVE MANDARIN Myanmari SPEAKING CUSTOMER SERVICE PEI, GUANGXIN 27.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE PHONE THIRI REPRESENTATIVE MANDARIN 28.

Myanmari SPEAKING CUSTOMER SERVICE SHAO, SHUAI 29.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE SUN, TAO 30.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE WEI, HONGLIANG 31.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE WEI, LIPING 32.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE WEI, SUNGUI 33.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE XIAO, CONG 34.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE XIAO, RUI 35.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE XIONG, CHENG 36.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE YANG, ZHE 37.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE YU, CHAO 38.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE ZHANG, KUI 39.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE ZHAO, ZHIJIE 40.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE ZHU, PENGQI 41.

REPRESENTATIVE MANDARIN Chinese SPEAKING RONG, XUELI MANDARIN CUSTOMER SERVICE 42.

Chinese REPRESENTATIVE WANDY MANDARIN CUSTOMER SERVICE 43.

Indonesian REPRESENTATIVE YULI MANDARIN CUSTOMER SERVICE 44.

Indonesian REPRESENTATIVE ZHUANG, KUNSHU MARKETING STAFF MANDARIN 45.

Chinese SPEAKING ACQUIRE ASIA PACIFIC PHILIPPINES INC. Lg-c Worldwide Corporate Center Edsa Cor. Shaw Blvd. Mandaluyong City NGESHA, JOYCELINE TECHNICAL SUPPORT 46.

Cameroonian REPRESENTATIVE AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex Harbour Drive Cor. Bay Shore Brgy. 076 Pasay City TRAN THI NGA 47.

SELLER SUPPORT ASSOCIATE Vietnamese AMBICA INTERNATIONAL CORPORATION #9 Amsterdam Extension Merville Park Subd. Merville Parañaque City 48.

BHAGWATI PRASAD Indian

CHEF

NO.

FOREIGN NATIONAL / NATIONALITY

Wednesday, February 24, 2021 A7

ESTABLISHMENT / ADDRESS POSITION

AMUSETECH BUSINESS OUTSOURCING 2/f Rivergreen Residences 2217 Pedro Gil St. 096, Bgy 880 Santa Ana Manila CUSTOMER SERVICE DENG, ZHANPING 49.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE DONG, DAFANG 50.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE FANG, XINYAO 51.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE HSU, PO-CHIEH 52.

REPRESENTATIVE MANDARIN Taiwanese SPEAKING CUSTOMER SERVICE LAI KIEN DONG 53.

REPRESENTATIVE MANDARIN Malaysian SPEAKING CUSTOMER SERVICE NGU TU VAN 54.

REPRESENTATIVE MANDARIN Vietnamese SPEAKING BAC-MAN GEOTHERMAL INC. 36f-42f One Corporate Center J. Vargas Ave. Cor. Meralco Ave. San Antonio Pasig City WITKOWSKI, ANTHONY 55.

CONSULTANT JOSEPH, American BOSCH SERVICE SOLUTIONS, INC. 23rd Floor, W Fifth Avenue Building 32nd Street Corner 5th Avenue Bonifacio Global City Taguig City 56.

TANG, BIYONG, Chinese ASSOCIATE BOWENHILLS TECH INC. 19/f Lepanto Bldg. 8747 Paseo De Roxas Bel-air Makati City SONG, YU CHINESE-SPEAKING MARKETING 57.

Chinese OFFICER BUDI TECHNOLOGY INC. 15/f Insular Life Corp., Centre Insular Life Drive Fcc Alabang Muntinlupa City AHMAD SHAH BIN 58.

BARHANUDDIN PROGRAMMER Malaysian SAIFUL IEZUAN BIN 59.

PROGRAMMER NORDIN, Malaysian RIDUAN BIN BERAHIM VISITING CONSULTANT - SENIOR 60.

Malaysian PROJECT MANAGER DUNFENG MANAGEMENT INC. 35th Floor Wynsum Corporate Don F. Ortigas Jr. Road Ortigas Center, San Antonio Pasig City WANG, LIANGPI MARKETING STAFF MANDARIN 61.

Chinese SPEAKING ECHOTECH SERVICES INC. 18/f Philamlife Tower 8767 Paseo De Roxas Bel-air Makati City CHANG, MEILING MANDARIN FIELD MARKETING 62.

Chinese OFFICER LIN, YUEJIN MANDARIN FIELD MARKETING 63.

Chinese OFFICER WEI, HONGREN MANDARIN SITE TECHNICAL 64.

Chinese OFFICER FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower Moa Coral Way Brgy. 076 Pasay City CAO THI THUY TRANG CUSTOMER SERVICE 65.

Vietnamese REPRESENTATIVE (CSR) LING, JIAJUN CUSTOMER SERVICE 66.

Chinese REPRESENTATIVE (CSR) LIU, ZHENG CUSTOMER SERVICE 67.

Chinese REPRESENTATIVE (CSR) FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Niño Parañaque City 68.

LONG, SHIWEI, Chinese MANDARIN CUSTOMER SERVICE 69.

ZHENG, QIHUI, Chinese MANDARIN CUSTOMER SERVICE FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City LI, HONGJUN CHINESE CUSTOMER SERVICE 70.

Chinese REPRESENTATIVE RAO, PINDONG CHINESE CUSTOMER SERVICE 71.

Chinese REPRESENTATIVE WU, YOULIN CHINESE CUSTOMER SERVICE 72.

Chinese REPRESENTATIVE YANG, CHEN CHINESE CUSTOMER SERVICE 73.

Chinese REPRESENTATIVE YU, SA CHINESE CUSTOMER SERVICE 74.

Chinese REPRESENTATIVE HO PHI NGUYEN VIETNAMESE CUSTOMER 75.

Vietnamese SERVICE REPRESENTATIVE NGUYEN LE NGOC HAN VIETNAMESE CUSTOMER 76.

Vietnamese SERVICE REPRESENTATIVE NGUYEN THI CAM LOAN VIETNAMESE CUSTOMER 77.

Vietnamese SERVICE REPRESENTATIVE NGUYEN THI NGAN VIETNAMESE CUSTOMER 78.

Vietnamese SERVICE REPRESENTATIVE NGUYEN THI THUY DUNG VIETNAMESE CUSTOMER 79.

Vietnamese SERVICE REPRESENTATIVE VI THI HA VIETNAMESE CUSTOMER 80.

Vietnamese SERVICE REPRESENTATIVE GATEWAYSOLUTIONS CORP. 8/f Edsa Cor. Sultan Brgy. Highway Hills Mandaluyong City TANG BINH CUONG CUSTOMER SERVICE 81.

Vietnamese REPRESENTATIVE GLO TECH PHILIPPINES PVT INC. Unit 1005 10th/f 20th Drive Corporate Center 20th Drive Mckinley Business Park Bonifacio Global City Fort Bonifacio Taguig City HAQ, USMAN UL 82.

SENIOR PROJECT MANAGER Pakistani GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City CUSTOMER SERVICE CHEN, JUNWEN 83.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE CHEN, HAIBIN 84.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE CHEN, YONGQING 85.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE DAI, CHENGJUN 86.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE GUAN, DESHENG 87.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE LI, XIANGHUA 88.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE LI, JIAYUN 89.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE QIN, HAOFENG 90.

REPRESENTATIVE MANDARIN Chinese SPEAKING

NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE TANG, WEILIANG REPRESENTATIVE MANDARIN 92.

Chinese SPEAKING CUSTOMER SERVICE WANG, PENGDA 93.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE WANG, XINGWEI 94.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE XU, HAIQIANG 95.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE YAN, JUN 96.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE YANG, ZHENXIN 97.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE YUAN, HONGYAN 98.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE ZHANG, DONGLIAN 99.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE ZHANG, HANG 100.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE ZHANG, ZHENGFU 101.

REPRESENTATIVE MANDARIN Chinese SPEAKING CUSTOMER SERVICE ZHANG, WENHUAN REPRESENTATIVE MANDARIN 102.

Chinese SPEAKING GOLDENSKY INTERNATIONAL GROUP INC. Midas Hotel 2702 Roxas Blvd. Brgy. 076 Pasay City JIN, LONG CALL CENTER AGENT 103.

Chinese MANDARIN SPEAKING LI, ZHIQIANG CALL CENTER AGENT 104.

Chinese MANDARIN SPEAKING WANG, ZHOU CALL CENTER AGENT 105.

Chinese MANDARIN SPEAKING XIE, ZHIYUAN CALL CENTER AGENT 106.

Chinese MANDARIN SPEAKING ZHU, GUANGLIN CALL CENTER AGENT 107.

Chinese MANDARIN SPEAKING LG ELECTRONICS PHILIPPINES, INC. 15 Francisco Legaspi St. Maybunga Pasig City KIM, SUNGJAE PRESIDENT AND MANAGING 108.

South Korean DIRECTOR MARKETROLE ASIA PACIFIC SERVICES, INC. 26/f, 27/f, 28/f The Enterprise Center Tower 1 6766 Ayala Ave. Cor. Paseo De Roxas San Lorenzo Makati City CHEN, XUDONG CHINESE SPEAKING CUSTOMER 109.

Chinese SERVICE STAFF HUANG, FUFENG CHINESE SPEAKING CUSTOMER 110.

Chinese SERVICE STAFF LI, RUYI CHINESE SPEAKING CUSTOMER 111.

Chinese SERVICE STAFF PENG, GUOJIE CHINESE SPEAKING CUSTOMER 112.

Chinese SERVICE STAFF WU, MIN CHINESE SPEAKING CUSTOMER 113.

Chinese SERVICE STAFF YU, HAN CHINESE SPEAKING CUSTOMER 114.

Chinese SERVICE STAFF ZHONG, QING CHINESE SPEAKING CUSTOMER 115.

Chinese SERVICE STAFF MJP-INTERNATIONAL TECH INC. 7r Fort Palm Spring 30th St. 1st Ave. Fort Bonifacio Taguig City KI, MINHO 116.

TECHNICAL SUPPORT SPECIALIST South Korean MPOTECH DIGITAL SYSTEM INC. 2/f 331 Bldg. Sen. Gil Puyat Ave. Bel-air Makati City NAWINDRA INDONESIAN CUSTOMER 117.

Indonesian SERVICE REPRESENTATIVE MUFG BANK, LTD. Oledan Square 15/f 6788 Ayala Ave. San Lorenzo Makati City DIRECTOR & JOINT TOGO, YASUHIKO 118.

DEPARTMENT HEAD FOR Japanese TREASURY FRONT OFFICE OKUMURA, YOSHINORI 119.

MANAGING DIRECTOR Japanese NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg. Aseana Avenue, Entertainment City Tambo Parañaque City CHEN, DONGJIE 120.

CHINESE CUSTOMER SERVICE Chinese CHEN, KELIANG 121.

CHINESE CUSTOMER SERVICE Chinese DENG, XIAOLI 122.

CHINESE CUSTOMER SERVICE Chinese GUO, JINCAN 123.

CHINESE CUSTOMER SERVICE Chinese HONG, LIZHOU 124.

CHINESE CUSTOMER SERVICE Chinese HUANG, HENGHUO 125.

CHINESE CUSTOMER SERVICE Chinese HUANG, JINGJI 126.

CHINESE CUSTOMER SERVICE Chinese LIU, QIANG 127.

CHINESE CUSTOMER SERVICE Chinese LU, XINQIN 128.

CHINESE CUSTOMER SERVICE Chinese MA, PENG 129.

CHINESE CUSTOMER SERVICE Chinese REN, YAXING 130.

CHINESE CUSTOMER SERVICE Chinese WANG, XIAOFANG 131.

CHINESE CUSTOMER SERVICE Chinese WEI, CHAO 132.

CHINESE CUSTOMER SERVICE Chinese YANG, ZHIHE 133.

CHINESE CUSTOMER SERVICE Chinese TONY INDONESIAN CUSTOMER 134.

Indonesian SERVICE CHAN CHON HENG 135.

MALAYSIAN CUSTOMER SERVICE Malaysian CHOW KENG SENG 136.

MALAYSIAN CUSTOMER SERVICE Malaysian TEN WAN YEE 137.

MALAYSIAN CUSTOMER SERVICE Malaysian 91.

SHANGGUAN, PENGMIN Chinese

138.

HLA MYO AUNG Myanmari

MYANMARI CUSTOMER SERVICE

139.

PYAE PHYO AUNG Myanmari

MYANMARI CUSTOMER SERVICE

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

AN THI THUY VIETNAMESE CUSTOMER Vietnamese SERVICE BUI THI NHUNG VIETNAMESE CUSTOMER 141.

Vietnamese SERVICE DAN CUN PHUNG VIETNAMESE CUSTOMER 142.

Vietnamese SERVICE DANG VAN CUONG VIETNAMESE CUSTOMER 143.

Vietnamese SERVICE HA THI TUYEN VIETNAMESE CUSTOMER 144.

Vietnamese SERVICE LAM THI MAI VIETNAMESE CUSTOMER 145.

Vietnamese SERVICE TRAN LE KY VIETNAMESE CUSTOMER 146.

Vietnamese SERVICE TRAN THI NGOC MAI VIETNAMESE CUSTOMER 147.

Vietnamese SERVICE RAMCO SYSTEM INC. Unit 1805, 18/f Cityland 10 Tower 1 H.v. Dela Costa St. Cor. Ayala Ave. Belair Makati City 148.

SRIVASTAVA, ANKITA, Indian PROJECT MANAGER RED DOT MARKETING AND BRANDING INC. Unit 1514 Burgundy Transpacific Place Taft Ave. 079, Bgy. 727 Malate Manila 149.

YAP KOK LIAN, Malaysian MANDARIN ACCOUNTS STAFF RIGHT CHOICE FINANCE CORP. 5e-1 Electra House Bldg. 115-117 Esteban Street San Lorenzo Makati City YANG, ZHAOYANG MANDARIN BUSINESS 150.

Chinese DEVELOPMENT OFFICER S AND C CONSULTANCY INC. U-214 Manila Executive Regency 1200 J Bocobo St. 072, Bgy. 670 Ermita Manila YU, KUNLONG MANDARIN TECHNICAL 151.

Chinese SUPPORT SA RIVENDELL GLOBAL SUPPORT, INC. 5th & 7th Flr. Star Cruises Ce Andrews Drive Newport City Brgy. 183 Pasay City DING, SHANJIE CUSTOMER SERVICE 152.

Chinese REPRESENTATIVE VIVIAN CHIN MAN LING CUSTOMER SERVICE 153.

Malaysian REPRESENTATIVE WU, DAN CUSTOMER SERVICE 154.

Chinese REPRESENTATIVE ZHANG, YI CUSTOMER SERVICE 155.

Chinese REPRESENTATIVE ZHU, ZHIHONG CUSTOMER SERVICE 156.

Chinese REPRESENTATIVE SKYLUSTER TECHNOLOGY, INC. 11/f The Enterprise Center Tower 2 Ayala Ave. Cor. Paseo De Roxas San Lorenzo Makati City HE, TING MANDARIN CUSTOMER SERVICE 157.

Chinese AGENT LI, XINXIN MANDARIN CUSTOMER SERVICE 158.

Chinese AGENT LIAO, TIAN MANDARIN CUSTOMER SERVICE 159.

Chinese AGENT YU, BO MANDARIN CUSTOMER SERVICE 160.

Chinese AGENT ERIC HENDRYSON 161.

MANDARIN FINANCE STAFF Indonesian FU, CONG MANDARIN HUMAN RESOURCE 162.

Chinese STAFF 163.

LIN, GAOHUI, Chinese MANDARIN IT SUPPORT STAFF TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre Adb Avenue, Ortigas Center San Antonio Pasig City KENFACK TIOGO, 164.

FRENCH OPERATIONS CSR ROBINSON, Cameroonian VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor. Washington St. Pio Del Pilar Makati City JI, HAOPENG BILINGUAL MARKETING 165.

Chinese SPECIALIST LI, LIANGKUO BILINGUAL MARKETING 166.

Chinese SPECIALIST WANG, YAN BILINGUAL MARKETING 167.

Chinese SPECIALIST WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp. 213 Buendia Ave. San Antonio Makati City ZHOU, ZHE CHINESE LANGUAGE 168.

Chinese CUSTOMER SERVICE STAFF ANDHIKA PASOMBA INDONESIAN LANGUAGE 169.

Indonesian CUSTOMER SERVICE STAFF RICKY SHEN INDONESIAN LANGUAGE 170.

Indonesian CUSTOMER SERVICE STAFF WANWATTANAKUL, THAI LANGUAGE - CUSTOMER 171.

SIRIRAK, Thai SERVICE STAFF LE THI NGOC VIETNAMESE LANGUAGE 172.

Vietnamese CUSTOMER SERVICE STAFF TRAN THI LINH VIETNAMESE LANGUAGE 173.

Vietnamese CUSTOMER SERVICE STAFF TRIEU THI DIEM CHI VIETNAMESE LANGUAGE 174.

Vietnamese CUSTOMER SERVICE STAFF TRUONG DINH HIEN VIETNAMESE LANGUAGE 175.

Vietnamese CUSTOMER SERVICE STAFF NGUYEN THI DIEU THUY VIETNAMESE LANGUAGE 176.

Vietnamese MARKETING STAFF ZTE PHILIPPINES INC. Unit 1201 & 1202 12th Floor Fort Legend Towers 3rd Ave. Corner 31st St. Bgc, Fort Bonifacio Taguig City 177.

PENG, YUNSEN, Chinese CIVIL WORK MANAGER WENG, HAOZHOU CIVIL WORK ROLLOUT 178.

Chinese MANAGER MAO, KUN OPERATION MANAGEMENT 179.

Chinese SYSTEM MANAGER 180.

GONG, LIXING, Chinese OUTSOURCING MANAGER 181.

DANG, XINGGEN, Chinese PROJECT MANAGER 182.

XU, ZHENBO, Chinese PROJECT MANAGER LIU, SHIBIN WIRELESS NETWORK 183.

Chinese OPTIMIZATION MANAGER 140.

*Date Generated: Feb 23, 2021 In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 23, 2021, the name of HUANG, YITING under NEW ORIENTAL CLUB88 CORPORATION, should have been read as HUANG YITING and not as published.

In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 19, 2021, the position of LOW WAI CHUN under MOA CLOUDZONE CORP., should have been read as MALAYSIAN CUSTOMER SERVICE and not as published.

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLENCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A8 Wednesday, February 24, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Safeguarding PHL’s poultry supply

N

early two years after the government confirmed that pigs in Rizal province were killed

by African swine fever, the dreaded hog disease has now spread to other parts of the country, including Mindanao. The disease is now being tagged as the single biggest cause of the significant drop in pork supply and the consequent spike in the price of pork (See, “3.6% pork output dip seen on ASF disruption,” in the BusinessMirror, January 14, 2021). Apart from the fact that ASF is fatal to humans, raisers cannot immediately repopulate their farms after ASF decimates their herd, as they must see to it that the virus has been eliminated prior to repopulation.

Data from the Philippine Statistics Authority (PSA) reflected the difficulties faced by hog raisers since September 2019, when the Philippines was first struck by ASF. The national statistics agency reported that hog inventory as of January 1 this year plunged to a 25-year low (See, “Hog inventory down by 24.1% as of January 1, a 25-year low,” in the BusinessMirror, February 10, 2021). The inventory of hogs in backyard farms, which accounted for 71 percent of supply and where ASF was first detected, fell by more than 13 percent.

Until ASF is brought under control and eliminated altogether, the government would have to find other means to supply the pork requirements of the country’s urban areas. Aside from searching for other sources of pork, the government must also encourage raisers to expand the production of poultry and step up its campaign to keep avian influenza at bay. Given the current pork situation, the recurrence of bird flu would deal a serious blow to government efforts to temper the rising prices of meat products.

Currently, a number of Western countries are experiencing bird flu outbreaks, including areas where the Philippines sources its poultry needs. Asian chicken farmers are also confronting the worst bird flu outbreak in years, according to a Reuters report. South Korea and Japan have destroyed more than 20 million chickens since November, while the highly pathogenic H5N8 virus reached India, the world’s sixth largest producer of poultry. What’s worrisome for experts is the new strains of the avian influenza virus that have evolved to become more lethal in wild birds.

Migratory birds have been associated with bird flu outbreaks in many countries, including the Philippines. We urge poultry raisers to immediately report any suspicious fatalities in their farms to prevent the possible spread of bird flu. We also call on the government to strengthen border security to prevent the entry of poultry products from countries that were banned from shipping chicken to the Philippines.

Extra care must be taken after the Bureau of Animal Industry announced in January that it has lifted the temporary ban on the local transport of live domestic poultry and poultry products after the Philippines regained its bird flu-free status (See, “BAI lifts temporary domestic ban on transport of poultry,” in the BusinessMirror, January 21, 2021). The movement restriction of live birds, poultry products from Luzon to Visayas and Mindanao without a negative avian influenza test was put in place as a control measure. Stakeholders must observe biosecurity protocols and work with the government to prevent the scourge that is bird flu from again posing a threat to our food security.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor Senior Editors

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

Aurora C. Ignacio

All About Social Security “Tulad mo’y isang ilog, na nagbibigay ng buhay.

Patuloy kang dumadaloy sa panahon, sumasabay...

Kaagapay, kaibigan, kabalikat sa pagbabago, kabalikat magpakailanman.”

A

S I sing along with the soft melody from the Social Security System hymn, “Kabalikat,” I cannot help but feel proud to know that SSS is like a river that continuously flows and gives life to every working Filipino. We continue to endeavor for our institution to live up to its promise of providing prompt, convenient, reliable, and meaningful social security protection services to its members, pensioners and beneficiaries.

Last year, our 63rd founding anniversary theme “Responding to the Times through expreSSS” encapsulates our goal to give SSS members easier, faster, and simpler transaction experience through digitalization.

We strongly encourage our mem-

bers, employers, and pensioners to make full use of the mandatory enrollment of disbursement account requirement by using Philippine Electronic Fund Transfer System and Operations Network (PESONet) participating banks, Electronic wallet (E-wallet), or Remittance Trans-

Lourdes M. Fernandez

Dennis Gorecho

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso Ruben M. Cruz Jr. Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

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I hope these reminders will guide you to ensure the successful enrollment of your disbursement account through DAEM. Step-bystep guide and other information may be found on the official Facebook Page of the Philippine Social Security System.

fer Companies (RTCs)/Cash Payout Outlets (CPOs) in the Disbursement Account Enrollment Module (DAEM) of the SSS. This electronic service at the My.SSS portal was developed to facilitate cashless disbursement of benefits and loan proceeds, highlighted now with the Covid-19 pandemic we are facing.

To use this online facility, members, employers, and pensioners must already have a My.SSS account or is registered with the My.SSS portal.

However, for those members who are yet to create their My.SSS accounts, they may use this link: https://bit. ly/2NbXTf2.

To proceed with the DAEM, members and employers should visit www.sss.gov.ph and log-in to their My.SSS account. Click the Disbursement Account Enrollment Module (DAEM) located at the E-Services Tab, read the reminders, and tick

Seafarer’s compensation cases and company doctor’s declarations

T. Anthony C. Cabangon

BusinessMirror is published daily by the Philippine Business Daily Mirror

MEMBER OF

SSS transactions made more convenient via the Disbursement Account Enrollment Module

Pinoy Marino Rights

C

ourts are not bound by the medical findings of the company doctors in the determination of compensation cases filed

by Filipino seafarers.

In most seafarer cases for disability or death benefits claims, one of the arguments often raised by the companies is that they are not liable to pay benefits by pointing to the medical reports of the company-designated physician that the seafarer’s illness is not work-connected, that he is fit to work or that the compensation is limited to a lower amount based on a low disability grading.

Such assessment is arrived at after the seafarer submits himself to the company doctor for a post employment medical examination within three days from his repatriation.

While the company doctor must declare the nature of a seafarer’s disability, the Supreme Court stressed

in several rulings that said declaration is not conclusive and final upon the court since the inherent merit of the case will still be weighed and duly considered.

The Supreme Court noted in Magsaysay v. Buenaventura (GR 195878.

January 10, 2018) that the judicial bodies should not adopt the declaration hook, line and sinker as it may be set aside if it is shown that the diagnosis of the company doctor is attended with clear bias, has no scientific basis or is not supported by the medical records of the seafarer.

Their findings cannot be taken as “gospel truth” due to the proliferation of obviously biased company doctors whose loyalty rests complete-

ly upon the company they serve and these are palpably self-serving and biased in favor of petitioners and certainly could not be considered independent” (Wallem v. NLRC 318 SCRA 623).

In Dohle-Philman Manning Agency, Inc v. Heirs of Andres Gazzingan (GR 199568 June 17, 2015), the Court said that the company doctor’s opinion is not an accurate appraisal of the extent of the seafarer’s disability since it was not based on the postemployment medical examination conducted on the seafarer after his medical repatriation.

In the absence of reasonable findings, diagnostic tests and procedures to support the assessment, the same cannot be simply taken at face value.

Moreover, the company doctor hastily concluded that aortic dissection is hereditary without necessarily considering other varied factors that can contribute to the development of the disease.

In Racelis v. United Philippine Lines, Inc. (GR 198408, November 12, 2014), the Court discarded the medical certificate because the opinion came from a physician who did not personally attend to the seafarer in the course of the latter’s medical

the box found before the statement “I certify that I have read and understood the foregoing reminders on account enrollment,” then click “Proceed.” Members may select their choice enrollment option—bank or e-wallet/RTC/CPO, encode bank account number or mobile number (for e-wallet/RTC/CPO), and click “Select Document Type” to attach supporting document/proof of account.

Members can select only one of the following files to be uploaded: ATM card with account number and name, bank certificate/statement (issued not earlier than 2019), foreign remittance receipt, passbook, screenshot of online/mobile banking account, validated deposit slip or screenshot of mobile app account (for e-wallet).

Photos or scanned documents should be clear and readable to avoid further delays in enrollment.

Additional verification process may be conducted by SSS to validate the member’s ownership to prevent any fraudulent claim in the future.

After a successful file download, tick the box before the statement “I agree that the information...” and then click Enroll Disbursement Account. An acknowledgment of the disbursement account enrollment See “Ignacio,” A9

treatment and for being unsubstantiated by any medical findings.

In Jebsens Maritime Inc. v. Babol (GR 204076, December 4, 2013), the Court did not give probative weight on the company doctor’s opinion that the seafarer’s condition is not work-related as the wordings used in the doctor’s report did not make a categorical statement confirming the total absence of work relation but only a mere probability.

In Magsaysay Mitsui Osk Marine Inc. v. Bengson (GR 198528, October 13, 2014), the Court disregarded the company doctor’s categorical declaration that the seafarer’s illness is not work-related for being self-serving.

The Court sustained the illness’ work-connection as the facts of the case clearly showed the contributory factor of the seafarer’s daily working conditions to the illness suffered, even in the absence of a contrary opinion of other doctors.

In Teekay Shipping Philippines Inc. v. Jarin (GR 195598, June 25, 2014), the Court ruled that it was unnecessary for the seafarer to consult and provide a contrary opinion from his own doctors since the causal connection between the illness and the work See “Gorecho,” A9

Opinion BusinessMirror

www.businessmirror.com.ph

Why President Duterte suspended the MVIS program Dr. Jesus Lim Arranza

MAKE SENSE

O

n August 10, 2018, the Department of Transportation (DOTr) issued Department Order 2018-19 authorizing the establishment of Private Motor Vehicle Inspection Centers (PMVICs) all over the country to be run and operated by private entities.

However, knowing that Republic Act 4136 (otherwise known as the Land Transportation and Traffic Code) vests such inspection function or powers with the Land Transportation Office (LTO), I cannot see the rationale why the government relinquished its responsibility to enforce and collect fees relative to the Act in favor of private businesses.

Under the Traffic Code, it is the Commissioner of Land Transportation who shall be responsible for the administration of this Act. As such, the Commissioner or his deputies may at any time examine and inspect any motor vehicle to determine whether such motor vehicle is registered, or is unsightly, unsafe, overloaded, improperly marked or equipped, or otherwise unfit to be operated because of possible excessive damage to highways, bridges and/or culverts.

However, the Code does not expressly say that these responsibilities can be delegated and/or redelegated to any other party. Thus, unless allowed by an enabling law, would DOTr’s issuance of Department Order 2018-19 not be legally questionable?

The legal jurisprudence of this issue is best seen in a similar incident involving the Philippine Chamber of Commerce and Industry and the Bureau of Customs, when the latter allowed the former to undertake the encoding of Customs entries and to collect fees for their services as exposed during a Senate hearing, where then Sen. Juan Ponce Enrile questioned the legal basis of the agreement between PCCI and BOC. According to Enrile, a government function delegated by law to a particular state agency, especially those that involve collection of fees, cannot be re-delegated to any other

Ignacio. . .

continued from A8

and another e-mail on the status/ result of the enrollment will be sent to the member’s e-mail account.

With the disbursement account ready, loan and benefit proceeds of the SSS member will be credited upon application and settlement of their loan or benefit applications.

I would also like to share some important reminders to our members and covered employers who will use the facility to ensure the correctness and validity of their disbursement accounts before enrolling them. This is to avoid denial of application, which usually causes delays in disbursement account enrollment. We understand that time is essential but nevertheless, it is best to double-check the information they have encoded before submitting them.

When enrolling bank accounts, online users must ensure that their disbursement account is a Philippine Electronic Fund Transfer System and Operations Network (PESONet) participating bank. The list of these banks can be viewed through this link: https://bit.ly/3qz4Ll3.

The member’s name or the employer’s business name registered in SSS should be similar with the bank account name being enrolled in DAEM. Do not encode closed, dormant, dollar, incorrect, joint/ or/and-or, time deposit, and non-

party, unless allowed by an enabling law. As a result of the Senate hearing, the BOC stopped its ASYCUDA project with PCCI. The Clean Air Act for its part, where unlike the Traffic Code, the Department of Environment and Natural Resources (DENR), as the Act’s principal implementor is allowed to collaborate and even deputize other government agencies like the DOTC, DTI and LGUs in the development of an action plan for the control and management of air pollution from motor vehicles consistent with the Integrated Air Quality Framework.

This makes me wonder why the haste in implementing the government’s MVIS program despite its legal issues, and most importantly, despite its having a measly number of accredited testing centers all over the country.

Like the government’s implementation of the Child Car Seat Law beginning February this year as earlier announced, its full enforcement during the pandemic could be awkward knowing that under the IATF Covid-19 safety protocol, children 14 years old and below are restricted from leaving home. Who would be using the child car seats then when children are not allowed to leave home?

It’s good that President Duterte is sensitive to issues and concerns affecting the social and economic well-being of Filipinos. He ordered the implementation of the Car Seat Law deferred, and made MVIS no longer mandatory.

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

existing bank accounts as well as bank accounts with restrictions and prepaid accounts because these will be considered invalid.

They also must make sure that the account number is entered and not the ATM card number. For those who are using cash cards issued by banks, they must ensure that their bank allows its use for SSS disbursements. Lastly, when encoding bank accounts, it should be entered as a continuous string of numbers, without spaces or any non-numeric characters. For ewallets and Remittance Transfer Companies/Cash Payout Outlets, mobile numbers must be encoded without any space or non-numeric character.

I hope these reminders will guide you to ensure the successful enrollment of your disbursement account through DAEM. Step-by-step guide and other information may be found on the official Facebook Page of the Philippine Social Security System.

In the spirit of our hymn, we remain positive that our efforts at SSS will be appreciated by our stakeholders as we try our best to serve them using the most practicable and accessible ways possible.

Have a nice week ahead!

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

Wednesday, February 24, 2021 A9

Stepping forward with Spiritual Intelligence Dr. Carl E. Balita

Entrepreneurs’ Footprints

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risis calls us to act beyond the usual. This pandemic experience sets an unprecedented crisis that makes us reinvent ourselves. This is where the opportunities in crisis are derived. It gives us the opportunity to engage all that we’ve got to survive and thrive. All our intelligences need to be tapped to generate our best coping and growth—and this refers to the collective intelligence of the heart, the mind and the spirit. And the ultimate intelligence and the most fundamental that works in these trying times is our Spiritual Intelligence. The SQ is what will make us step forward towards who we really are—as individuals and as humanity. With SQ, we should be able to answer the question “what is it to be human” amid and beyond the pandemic.

This pandemic may trigger us to re-boot our individual moral compass toward a better and different world. The quarantine enables us to have moments alone reflecting with our conscience and listening to that innate inner voice which all along knows the right things to do.

SQ can make us more purposeful, meaningful and responsible, regardless of our religion.

Defining spiritual intelligence

The rational and material intelligence, based on “what I think” is measured by the Intelligence Quotient. IQ discovery in early 20th century led to the measurements of left-brain linked rational, logical, problem solving skills. The emotional or social intelligence, anchored on “what I feel” is measured

by Emotional Quotient. EQ in the mid 1980s asserts the right-brain linked power of emotions as source of human energy, information, connection and influence for personal, emotional and social abilities. Adversity Quotient was also introduced in 1997 as a complementary framework that tells us how well one withstands adversity and the ability to surmount it and predicts who gives up and who prevails. The past columns of this

writer featured these.

The Spiritual Intelligence which foundation is on “what I am” and is measured by the Spirituality Quotient. It was attributed to Dana Zohar and Ian Marshall in a pioneering book “SQ Connecting with our Spiritual Intelligence.”

Spiritual intelligence is regarded as the ultimate intelligence and is the ability to access higher meanings, values, abiding purposes, and unconscious aspects of the self and to embed these meanings, values, and purposes in living richer and more creative lives. SQ is a transformative intelligence that allows us to break old paradigm and to invent new ones, to reframe problems and situations, to dissolve old patterns, to be open to finding new ones and to access energies that come from something beyond the ego, beyond just me and my day-to-day concerns.

The twelve applied principles of SQ

Zohar asserts the twelve principles of SQ. In this article, these principles are translated into action agenda amid the pandemic toward the golden opportunity for us to apply as individuals toward recapturing the values that—together, humanity can do it.

We need to positively use adver-

sity and regard suffering as a means to grow. This is possible when we stand up not as victims, and as we convert setbacks as time-out moments to discover new ways.

We have to be attuned with the deepest values that we live for and for which we are willing to die for.

It is anchored on the self-awareness, which core is on who we are and which radiates on how we give this life forward to others as a gift to the God within us.

As humans are the most arrogant species in the planet entitled to consume it as if everything is for us, humility dictates that we are just part of and is connected to a big whole.

Listening to the voice within enables us to listen to each other with openness that your point of view is as valid and probably right and as invalid and probably wrong as someone else’s point of view.

Compassion is “to feel with” where yours is perceived and experienced as mine. Be it suffering or poverty, one need not pity but genuinely empathize to care for the poor because fact is I am also poor.

There is just too much of selfcentered pursuit without realizing that we swim and sink together in this pandemic battle. Living a vision and value-led life commits to excellence seeking for the best that one can give as a service not to self but for others.

Humanity is trapped by the illusions of the past comforts and the anxieties of the future such that the present here-and-now is neglected and given less value. We tend to solve the new problem with old solutions, or with the same old solutions that led to the present problem, which is plain stupid. AQ makes us drop the baggage and focuses to live, now!

Quantum physics, which is the expertise of Zohar, theorize that there is no such thing as separation, and therefore the world is an unbroken whole. When we realize that we are all part of the whole in a vast interconnected field, we become more cognizant of the implications of what we do in the lives of others within

our circles and even in the universe.

The volatile, uncertain, complex and ambiguous world should make us ask infinite questions toward a finite answer. We should be able to ask, the deep fundamental question, why.

This principle of SQ incites the better VUCA as vision, understanding, clarity and agility, which are what we need to move forward.

The reset brought about by the pandemic in almost all aspects of our lives gives perfect timing for what SQ refers to as reframing—a change in paradigm. Business may want to see itself as generators of employment and wealth not for the narrow short-term mindset of profit but for the products, services and solutions for the betterment of society and humanity.

The chaos brought about by our pandemic response challenges our ability to stand in the middle of, or even against, the crowd. It puts us in the room to be different and who has no obligation to just go along. Combined with humility, this principle enables us to make that difference.

Celebration of diversity enables us to appreciate the beauty of and the potential development derived from a different point of view. It adds up to our expanding awareness of ourselves in the bigger contexts of life.

The sense of vocation gives greater meaning to what we do as we are convinced that we are all called to do something. With sense of vocation, we get more engaged to excel in everything that we do because they matter.

The SQ’s challenge to achieve the personal consciousness of who we are, why we are here and what we can do, individually and collectively in a vast system adopting our temporal life in this universe, make us more alive inside as we continue to make footprints forward toward better persons contributing to the better future of a better humanity for a better universe, under one sacred supreme Being within and around us.

For feedback, please send e-mail to drcarlbalita@ yahoo.com.

What NY prosecutors could learn from Trump’s tax records

By Jim Mustian & David B. Caruso

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EW YORK—Manhattan District Attorney Cyrus R. Vance Jr. fought for a year and a half to get access to former President Donald J. Trump’s tax records.

Now, thanks to a US Supreme Court ruling, he will soon have them. But what will that mean for the Democrat’s investigation into Trump’s business affairs?

Former prosecutors say the trove of records could give investigators new tools to determine whether Trump lied to lenders or tax officials, before or after he took office.

“Prosecutors look for discrepancies in paperwork. For example, if Trump told the IRS he’s broke and lenders that he’s rich that’s just the type of discrepancy they could build a case around,” said Duncan Levin, a former federal prosecutor who worked on a wide range of white collar cases as Vance’s chief of asset forfeiture.

“These documents are a very important piece of the jigsaw puzzle,” Levin said.

Whether Trump’s records will contain evidence of a crime is uncertain. The former president has argued for years that he broke no laws and has been unfairly targeted

by Democrats for political reasons.

Here is a look at where the tax records might be helpful, and where they might not help much, in the district attorney’s investigation:

Gorecho. . .

continued from A8

for which he had been contracted was clearly detailed and convincingly established by him.

The company doctor’s assess-

More than just returns Trump went to extraordinary lengths to keep his federal income tax returns from becoming public, but those aren’t the only valuable documents included in this haul.

Trump’s accounting firm, Mazars USA, is supposed to turn over not only the final versions of Trump’s tax returns, but also draft versions of those returns and “any and all statements of financial condition, annual statements, periodic financial reports, and independent auditors’ reports” held by the company.

That could give state prosecutors an “open book” into Trump’s finances, said Adam D. Citron, a former state prosecutor and partner at Davidoff Hutcher & Citron. “It’s really the kitchen sink.”

Examining those other documents could be key to determining whether Trump or his companies gave tax authorities different information about his income than they presented to other officials, like banks and business partners.

initial subpoenas sent to the Trump Organization asked for information about payments Trump’s former lawyer, Michael Cohen, arranged to women who had claimed to have had extramarital sexual encounters with Trump.

Cohen has said Trump’s company later reimbursed him for one of those payments, to the adult film actress Stormy Daniels, disguising it in the form of legal fees.

It isn’t clear, though, whether Trump’s tax records will add much to that part of the probe. The New York Times, which obtained years of Trump’s tax data, wrote that it contained “no new revelations” about the payment to Daniels and didn’t include any itemized payments to Cohen.

Tax breaks

When the district attorney’s investigation first began, one of the

The district attorney’s office has been investigating some of the arrangements Trump made to reduce his tax bill. Data in the returns could be essential in analyzing whether any of those maneuvers crossed legal lines.

One of the breaks under scrutiny is the one that Trump got for donating part of his Seven Springs estate, north of New York City, to a conservation trust. Some experts have questioned whether Trump overvalued the land to get a bigger break than he deserved.

Investigators have already subpoenaed and received many docu-

ment does not evince irrefutable and conclusive weight in assessing the compensability of an illness as the seafarer has the right to seek a second opinion from his preferred physician (Cadornigara v. NLRC, 538 SCRA 363).

Said rulings were based on the

prevailing doctrine that “disability is intimately related to the worker’s capacity to earn, and what is compensated is not his injury or illness but his inability to work resulting in the impairment of his earning capacity.

Thus, disability has been construed less on its medical significance but

Hush money

ments related to the land deal. Trump benefited from a similar conservation donation in California.

Statements to lenders

Vance’s office hasn’t disclosed the full nature of its inquiry. But in court filings, prosecutors have pointed to news articles that questioned whether Trump had chronically exaggerated the value of his assets to banks and insurance companies.

The Associated Press reported last month that Vance’s office recently interviewed Cohen for hours, asking him, among other things, about Trump’s relationship with Deutsche Bank, his biggest and longest standing creditor.

One Washington Post story cited by prosecutors detailed how various Trump Organization financial disclosures inflated the number of home lots for sale at a California golf course, the acreage at one of his vineyards and the number of stories in Trump Tower while excluding information about debts at his Chicago and Las Vegas hotel projects.

Tax records will only be one tool prosecutors will use to examine whether any of those statements amounted to fraud.

“They’re going to look at valuations and property values,” Citron said of state prosecutors. “They’ll look at the billings of attorneys to see what their expenses were for.” AP more on the loss of earning capacity.”

(Ilustricimo v. NYK-Fil Ship Management Inc., GR 237487, June 27, 2018.)

Atty. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786)

A10 Wednesday, February 24, 2021

Will Senate do Cha-cha with House?

Not now

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ENATORS see no rush to tinker with the Constitution even as their House counterparts already opened on Monday plenary consideration of proposals to amend the 1987 Charter, starting with its “restrictive economic provisions.”

“Not at the moment,” Senate President Vicente Sotto III told BusinessMirror in a text message when asked if the Senate will follow suit.

Senate President Pro Tempore Ralph Recto promptly thumbed down the House initiative, saying: “I am against Cha-cha (Charter change).”

Senate Minor it y L eader Frank lin Dr i lon replied in a text message with a curt “No,” when asked about his stand on the issue.

For her part, Senator Imee Marcos voiced doubts “that there is the same broad-based support to amend the Constitution at this time in the Senate.”

Senator Panfilo Lacson, however, left the door open, noting that “it (Charter change) is still being deliberated at the committee level.”

Continued on A6

5K towers annual goal set to boost Net service

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By Samuel P. Medenilla

@sam_medenilla

HE government is targeting to build an average of 5,000 new telecommunication towers per year in the next three years to help improve internet services in the country.

Cabinet Secretar y K arlo Nograles said the Department of Information and Communications Technology (DICT) made the recommendation during the Cabinet meeting on Monday.

He said DICT set the new target due to the still low number of towers in the country, which are vital to millions of internet users.

Another proposed DICT measure which was approved by Duterte is the drafting of a Joint Memorandum Circular, which aims to ease the regulatory burdens for the

installation of fiber optic cables, common poles, and in-building solutions.

DICT earlier said the lack of available fiber optic cables in the country is another hindrance to local internet access.

Also given the go-ahead by the President is the giving of provisional approval for Right of Way (ROW) for DICT infrastructure projects, specifically the National Broadband Phase 1 and Luzon Bypass Infrastructure (LBI); allowing telecommunication

companies (telcos) to continue work during emergencies; and issuance of a memorandum circular to effect separate health protocols for telco manpower.

DICT is also pushing for a fixed table of regulatory, installation and repair fees imposed by local government units (LGU) on information communication technolog y infrastructure, as well as for local authorities to streamline requirements and procedures for processing permit application by telcos and issuance of Certificate of Final Electrical Inspection (CFEI).

Nog ra les sa id t he gover nment hopes these measures will improve internet connection in the country as more Filipino become dependent on it for their work, livelihood and education, especially during the Covid-19 pandemic.

“While we have had some good news on this front, with the country now ranked 86th up from 100 in the Speedtest Global Index, the pandemic just emphasized how much work must be done in order to address the increasing demand for ICT infrastructure,” Nograles said during an online press briefing on Tuesday.

ASF SPREADING IN E. VISAYAS, BICOL TOWNS–GOVT REPORT

By Jasper Emmanuel Y. Arcalas

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@jearcalas

HE fatal African Swine Fever (ASF) continues to spread in towns in Bicol and Eastern Visayas, the government’s latest zoning map revealed.

The latest update on the National Zoning and Movement Plan for ASF showed the new areas infected with the dreaded hog virus, which is not harmful to humans, as reported to the Bureau of Animal Industry (BAI) from February 15 to 19.

BusinessMirror analysis showed that new ASF outbreaks were confirmed by the BAI in five towns in Bicol region and two towns in Eastern Visayas region.

In the Bicol region, new infections were recorded in two towns of Albay (Bacacay and Tabaco City); San Lorenzo Ruiz, Camarines Norte; Tigaon, Camarines Sur; and Milagros, Masbate. New ASF outbreaks were confirmed in the towns of Burauen and Pastrana in Leyte.

The Department of Agriculture (DA) on Tuesday said one possible reason behind the spread of the ASF virus in the two regions are hog traders and raisers who were not disinfected that entered and exited the areas that have been.

To date, the BAI has confirmed the presence of ASF in over 2,300

barangays in over 450 municipalities in at least 38 provinces across 12 regions of the country.

The government has culled over 400,000 pigs nationwide to curb the spread of ASF. Industry players noted that the hog sector has lost at least 5 million pigs to date, resulting in supply shortfalls and spikes in retail pork prices.

The DA said they are still awaiting President Duterte’s signature on their recommendation to hike the country’s minimum access volume (MAV) for pork imports to 400,000 metric tons (MT).

The increment of the pork MAV, currently at 54,000 MT, is one of the measures eyed by the government to boost domestic supply and pull down pork retail prices below P300 per kilogram.

Insurance subsidy

The DA is currently seeking Cabinet approval for its P740-million proposal to subsidize half of the insurance premium of commercial hog raisers to encourage them to partake in the government’s pig repopulation tack.

The proposal was disclosed by Agriculture Secretary William D. Dar in a Senate Committee on Agriculture, Food and Agrarian Reform meeting last Monday.

Continued on A6

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, February 24, 2021

B1

Coca-Cola to spend $63M for expansion of PHL plant

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By Elijah Felice E. Rosales

@alyasjah

everage giant Coca-Cola has invested $63 million for its operations here in the Philippines to be used for expanding its Sta. Rosa plant and improving production capacity.

Coca-Cola Beverages Philippines Inc. President and CEO Gareth McGeown on Tuesday said the multinational is investing $63 million, or more than P3.06 billion, in its Philippine operations this year. Further, he said this may just be the first tranche of a number of capital inflows that the firm will inject to the economy in 2021.

“This is our first tranche of in-

vestment into 2021, coming from over $90 million that we spent last year,” McGeown said in an interview with reporters.

He said much of the investments is allocated for pumping up the volume capacity of its factory in Sta. Rosa, Laguna, in a move to recover from the losses Coca-Cola incurred last year. This will also mark a return of priority in the firm’s Luzon busi-

ness after focusing its adjustments in Mindanao in 2020.

“Primarily, it will go to increasing our capacity, specifically this time around Luzon. Last year we invested heavily in Mindanao. We saw a lot of growth potential in Mindanao,” McGeown said.

A portion of the investments is directed toward purchasing new trucks, which will be used for delivery, that are compliant with fuel efficient standards The multinational popular for its soft drink brand is also looking at strengthening its products cased in glass bottles as part of efforts to reduce its reliance on plastic.

“On top of that though, we’ll also be investing in some of our logistics sites around some of our environmentally trucks, [and] a lot of our business is around the return of glass base,” McGeown said.

The Coca-Cola chief added the Philippines may get another round of investments should the economy perform better in the coming quarters. If it does so by the third quarter, McGeown said more capital will be injected to improve production capacity and capabilities.

“That’s kind of what we want to get to by third quarter assuming that the business continues to progress and do well, we will be asking for more investments to continue to build capacity and capability across our system,” he said.

The new cycle of investments will also be used to make sure the jobs of Coca-Cola’s 10,000 workers across the Philippines will be protected in a period when unemployment is rising. The firm is eyeing to expand its multiplier effect by reaching more makeshift stores and supplying them with its brands.

SMC to spend ₧1B for vaccine program

By VG Cabuag @villygc

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onglomerate San Miguel Corp. (SMC) on Tuesday said it is spending close to P1 billion for a program to vaccinate all its 70,000 employees and extended workforce for free.

The company has secured Covid-19 vaccine doses from various sources and is currently laying the groundwork for its vaccination strategy, which it said it coordinates with relevant government agencies.

“Our program is in line with our core value of malasakit and aims to create a safe and healthy workplace so that we can further contribute to our country’s economic recovery,” company president Ramon S. Ang said.

The vaccines will be administered to employees on a voluntary basis but Ang hopes that all eligible employees

will sign up to be inoculated when the vaccine becomes available.

“It is our civic duty and our best chance at protecting ourselves and those we love. It is the best thing we can do today to help contain this pandemic, protect the vulnerable, and help speed up economic recovery,” he said, adding that the business sector will play an important role in vaccinating enough people to reach herd immunity.

He added that San Miguel will use vaccines that have complied with safety protocols and are authorized for emergency use by the local Food and Drug Administration.

Ang said that until the vaccine is widely available, the company will continue to follow public health measures—wearing masks, physical distancing and good hygiene—to protect its workforce and minimize the spread of the virus.

Holcim PHL names new CEO

Exec: Dito to launch service in ‘waves’

By Lorenz S. Marasigan @lorenzmarasigan

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ito Telecommunity Corp. will introduce its commercial services “in waves” starting March 8 initially in Mindanao and Visayas, as it seeks to provide its telco services in areas that are “previously underserved.”

Adel Tamano, the company’s chief administrative officer, said the group is ready to introduce its commercial services in the Philippines, after passing the first independent audit of its network.

“On March 8 we will be having our commercial launch. It is going to be a launch in waves—it’s a phased launch. We will start first in Mindanao. There’s a sentimental reason for that because before Dito became

SEC now a member of GFIN

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he Securities and Exchange Commission (SEC) on Tuesday said it has joined the Global Financial Innovation Network (GFIN) to support the development of the Philippine capital market.

Formally launched in 2019, the GFIN is composed of more than 60 organizations committed to supporting financial innovation in the interest of consumers.

Through the GFIN, the agency said it will widen its avenue for collaborative knowledgesharing with other financial services regulators and international organizations in areas such as financial integrity, consumer well-being and protection, financial inclusion, competition, and financial stability through innovation in financial services.

As a member, the agency will be able to perform pilot testing of new technologies to assess how a product or service might operate in a live market setting in multiple jurisdictions.

“We thank the GFIN for welcoming the SEC to its growing membership,” SEC chairman Emilio B. Aquino said.

“In the current operational milieu where technology plays a major part in regulation and supervision of the capital market, the SEC will be able to keep abreast of innovations worldwide through its participation in the GFIN and utilize them in the development of efficient regulation and forward-looking policies."

The GFIN also recently admitted as members the Reserve Bank of India, Bank of Mauritius, Anguilla Financial Services Commission, Indonesia Financial Services Authority, Eswatini’s Financial Services Regulatory Authority, National Bank of Ukraine, Central Bank of Tunisia and the United States’ National Futures Association. VG Cabuag

Dito, we were Mindanao Islamic Telephone Co., which was actually set up to serve the underserved areas, so we found it fitting to initially launch it in Mindanao and Visayas,” he said.

He noted that as the days and weeks progress, Dito will be selling its sim cards in “17 cities and municipalities in Visayas and Mindanao.”

Metro Manila and Luzon will soon be able to avail of Dito’s services before June.

As of writing time, Dito has yet to provide the media with the specifics of the 17 cities and municipalities.

Tamano said Dito decided on a phased launch—essentially the selling of sim cards in all parts of the country—as it wants to ensure “quality customer experience” by providing the right channels of after sales services and logistics.

“In terms of commitment, nationally, we’re available, however, the physical elements, it’s a commercial decision to first do it in Mindanao and Cebu. We believe that this complies with the commitments in our franchise,” Tamano said.

Currently, Dito is building about 20 stores in Visayas and Mindanao.

By March 8, there should be about “10 to 20 points of sale” in the two regions. So far, Dito has spent about P150 billion in capital expenditures to build its initial network. For 2022, Dito is spending another P50 billion to expand its reach and meet its commitments.

After passing the first independent audit, conducted by RG Manabat & Co., Dito is subject to its second audit on July 8.

So far, Dito is confident that it

will pass the next round of network evaluation, Dito Chief Technology Officer Rodolfo D. Santiago said.

"We’re on track to meet our second year commitment and that’s by July 8 of this year. Right now, we’re about 45 percent in terms of population coverage. We’re building up our 5G network because we cannot achieve the 55 Mbps with a 4G LTE system only. We are banking on 5G coverage to push that up to a minimum of 55 Mbps,” he said.

Dito committed that on its second year of operations, its network should reach an additional 13.99 percent of the population—or more than half of the country’s population when combined with its first year commitments—and deliver an average minimum speed of 55 Mbps to its users.

Vivant, AHC to acquire majority stake in BPC

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ivant Energy Corp. and subsidiary Amberdust Holding Corp. (AHC) are jointly acquiring a majority shareholding in Bukidnon Power Corp. (BPC) and North Bukidnon Power Corp.

(NBPC), expanding its investments in Mindanao.

Based on a disclosure to the stock exchange, the two companies are acquiring 90 percent of both BPC and NBPC through share sale and purchase agreements with existing shareholders.

Vivant Energy and AHC are spending P205.54 million to acquire the 90-percent shareholding in BPC, while P228.28 million for the 90-percent shareholding in NBPC. The remaining 10 percent of the shares in BPC and NBPC will still

be owned by existing shareholders.

Vivant Energy COO Emil Andre M. Garcia said the investment in Mindanao aims to further ensure stability and reliability of the power supply in Bukidnon Province, particularly during peak hours.

“We are confident in the recovery and growth of the Philippine economy, and we believe that Mindanao will play a more significant role in it. That growth will require a stable and reliable power supply, which we are committed to provide,” he said in a statement.

Both BPC and NBPC were developed by Senator Juan Miguel Zubiri to address intermittent brownouts about a decade ago.

"The acquisition and the subsequent partnership with Vivant

Energy would greatly boost the efficiency of energy production for our province and the region,” Zubiri said.

NBPC supplies 5 megawatts MW of the peaking power requirement in the franchise area of Bukidnon Second Electric Cooperative Inc. through its bunker-diesel power plant in Lantapan.

Bukidnon BPC owns the two bunker-diesel power plants that are both contracted to supply the energy requirements of First Bukidnon Electric Cooperative Inc. “The acquisition will contribute to the continued expansion of the business activities of Vivant Corp. in the Mindanao region,” the filing of listed parent company Vivant Corp. read. Lorenz S. Marasigan

NEW INDUSTRIAL PARK W Group’s Portuguese Land Inc. (PLI) held groundbreaking ceremonies for PRI Industrial Park at LIMA Technology Center in Malvar, Batangas last February 7. Photo shows (from left to right) Ivan Yao (President, Lucerne), Francis Wee (CEO, W Group), Eaton Ong (President, ILO Construction Inc.), Rosalind Wee (Co-Founder, W Group), Leehiong T. Wee (Ambassador to Indonesia and Chairman of W Group), Roger Swainson (Special Project Director, Portuguese Realty Inc.), Edwin Ong (VP, ILO Construction Inc.) and Emerson Yao (Managing Director, Lucerne). Contributed Photo

Adrian

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ement firm Holcim Philippines Inc. on Tuesday said it has appointed Romanian Horia Adrian as the new president and CEO of the company effective March 1.

Adrian replaces John Stull, an American who led Holcim Philippines for 3 years and will be pursuing another role within the LafargeHolcim Group.

Adrian is the former CEO of Romania and Market Head Emerging Europe. He joined LafargeHolcim in 2000 and has held various management roles, including CEO roles for Russia, Eastern Europe and CIS and Middle East. He also managed the LafargeHolcim Group’s Business Transformation.

“It is an honor to be appointed

as the new President and CEO of Holcim Philippines. The business in the Philippines is a significant contributor to the LafargeHolcim Group and it is truly exciting to continue the remarkable work done under John’s leadership,” Adrian said.

“It has been a privilege to have worked with the men and women of Holcim Philippines that showed resilience and dedication to grow the company amid the challenges.

I am truly grateful for the support given. The focus on Health, Cash and Cost strengthens the company’s position to ensure a strong comeback and capture the growth and opportunities ahead. I wish Horia and the organization all the best,” Stull said. VG Cabuag

Converge unveils enterprise grade solutions

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onverge ICT Solutions Inc., t he l a rgest f i xed broadband service provider in the Philippines, introduced on Tuesday new enterprise grade solutions that will enable businesses to shift and adapt in the new normal.

Jesus Romero, the company’s COO, said the four new solutions will provide businesses of varying sizes the ability to be more agile to meet the demands of the more digitally-enabled Filipino consumers.

“Because of the new normal, many business and enterprise owners have learned to shift their work into the digital space.

Converge understands that business requirements are unique, thus we have created new products in our Enterprise segment to address specific connectivity needs,” he said.

The four new solutions are as follows: Converge Faster, Converge Time of Day, Converge Upload, and Converge Connect.

Converge Faster provides enterprises with options to send and receive files securely through their own network. Using a Layer 3 networking service that can

convert a business’s main office into a fully digital branch, Converge Faster offers private WAN connectivity between a company’s headquarters, branches, satellite offices, or remote sites through a pure fiber GPON Network.

Converge Time of Day allows businesses to expand their bandwidth at their preferred schedule, enabling them to maximize their budgets.

Meanwhile, Converge Upload provides businesses with heavy outbound requirements with a speed boost to supplement services such as web hosting, game development, animation, and cloud storage.

Lastly, Converge Connect allows enterprises to customize and combine products and resources in one circuit to address vast and multiple connectivity needs for their businesses.

“Our goal is to support fellow Filipino businesses and enterprises as they transition into the digital front and ensure that they have the best resources for productivity in order to thrive in this pandemic-laden economy,” Romero said. Lorenz S. Marasigan

B2

Wednesday, February 24, 2021

Companies BusinessMirror

JG Summit acquires minority stake in S. Africa’s TymeBank

By VG Cabuag

J

@villygc

G Summit Holdings Inc., the holding firm of the Gokongwei Group, on Tuesday said it acquired a minority stake in South African digital bank Tyme, as the group forays into the financial technology sector.

JG Summit said it has taken part in an estimated P5.3 billion or about $110 million total investment in Tyme, along with Apis Growth Fund II, a private equity fund managed by Apis Partners LLP and South African investment holdings company African Rainbow Capital.

The company did not say how much it invested in Tyme.

Ty me has an international management arm called TymeGlobal and is headquartered in Singapore. The bank claims to be the leading digital banking network for emerging markets, and is majority owned by ARC. The capital raised will be primarily deployed to grow TymeBank in South Africa, which has

attracted 2.8 million customers to its digital banking platform since its launch in February 2019.

It is reportedly one of the largest foreign investments any fintech company has secured in South Africa.

“We see digital banking as the next growth area globally and increasingly in ASEAN and so we are excited to partner with global investment giants Apis and ARC in taking part in this global play by building further success for South Africa’s leading digital bank TymeBank,” said JG Summit President and CEO Lance Y. Gokongwei.

“The investment not only propels the Gokongwei Group to accelerate its foray into disruptive digital plays, it also allows us to

NPC probes data breach in lending app

By Elijah Felice E. Rosales @alyasjah

T

he National Privacy Commission (NPC) is investigating an online lending app for a data breach in its platform that resulted in the leak of user information on the dark web.

The NPC on Tuesday reported it carried out a preliminary investigation on the data breach that corrupted online loan app Cashalo’s files. Based on the probe, the data taken from Cashalo has been put for sale on the dark web since February 14 as disclosed in cybersecurity forums.

Further, a certain user by the name “creepxploit” has been peddling the data of 3.3 million users of Cashalo containing their usernames, passwords, e-mail addresses, phone numbers, as well as device identifications.

The seller even provided sample data of Cashalo users for potential buyers to see. This activity on the dark web has been shared in posts on cybleinc.com and RaidForums, sites where data breaches and leaks are reported to alert Internet users.

As such, the NPC hinted the user, “creepxploit,” may have downloaded files from the database of Cashalo and took to the dark web to profit from them.

The NPC has reached out to Cashalo’s data protection officer to coordinate this incident. Also, the agency has required the online cash app, operated by Oriente Express Techsystem Corp., to provide additional information

on the matter.

The NPC added it received the breach report file submitted by Cashalo last Friday.

The data privacy body vowed it will monitor and investigate the data breach in cooperation with all parties involved as part of its mandate to protect the personal information of data subjects. It, however, recommended Cashalo users to keep their accounts in check and change passwords for security purposes.

Last Friday the NPC transmitted to the Department of Justice a recommendation to prosecute another online lending app in PondoPeso, operated by Fynamics Lending Inc., for violating data privacy rules.

Scores of borrowers have filed complaints against the app for subjecting them to public shaming to pressure them to pay. As such, the NPC concluded Fynamics should be held accountable for breaching Section 25 of the Data Privacy Act (DPA).

Criminals found guilty of unauthorized processing of personal information could be imposed with three years of imprisonment and P2 million in fine, while of sensitive information could be ruled with up to six years behind bars and made to pay as much as P4 million in penalty.

In 2019 the NPC issued a directive proh i bit i n g 26 on l i ne le nd i n g ap p s f rom processing personal information on charges of brea k i ng t he DPA. Download store Google Play then took down these apps from its platform to prevent any further users from accessing them.

learn more about TymeBank ’s experiences that provide a good impetus for us in considering to apply their technology and success in the Philippines.”

Through its corporate venture capital vehicle, JG Digital Equity Ventures (JGDEV), the Gokongwei Group reinforces its foray into global innovations and Fintech as part of its vision of becoming one of the biggest digital conglomerates in the country and in Asean.

With Tyme in its portfolio of investments, the company said it will have a deeper understanding of the success of digital banking in developing economies, such

mutual funds

as South Africa, with the aim of replicating it in a similar setting such as the Philippines.

JG Summit said it plans to bring Tyme’s digital experience and innovation to the Philippines.

Established in 2019, JGDEV’s current portfolio includes iPrice, Southeast Asia’s leading shopping companion that offers consumers a catalog of 5 billion products; digital procurement tool Growsari targeted toward digitalizing local neighborhood retail or sari-sari stores; all-in-on hotel operating system Zuzu; virtual logistics platform Zyllem; and consumer data analytics tool Snapcart.

February 23, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 216.63 -9.82% -9.14% -2.02% -4.66% ATRAM Alpha Opportunity Fund, Inc. -a 1.3244 6.29% -6.05% 3.84% 0.87% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.984 -11.06% -13.17% -3.67% -4.76% Climbs Share Capital Equity Investment Fund Corp. -a 0.7647 -8.06% -8.23% n.a. -4.88% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6973 -13.71% n.a. n.a. -5.97% First Metro Save and Learn Equity Fund,Inc. -a 4.7078 -7.08% -7.1% -1.19% -4.73% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6986 -13.34% -10.38% -6.48% -8.05% MBG Equity Investment Fund, Inc. -a 101.05 5.17% -4.92% n.a. -0.87% PAMI Equity Index Fund, Inc. -a 44.6101 -8.07% -7.3% -0.45% -4.78% Philam Strategic Growth Fund, Inc. -a 466.08 -8.06% -7.22% -1.15% -4.68% Philequity Alpha One Fund, Inc. -a,d,5 1.0551 6.62% n.a. n.a. -3.85% Philequity Dividend Yield Fund, Inc. -a 1.1274 -7.99% -6.53% -0.24% -3.49% Philequity Fund, Inc. -a 33.3078 -7.51% -6.55% 0.38% -4.2% Philequity MSCI Philippine Index Fund, Inc. -a 0.8649 -10.93% n.a. n.a. -5.27% Philequity PSE Index Fund Inc. -a 4.565 -7.72% -6.8% 0.32% -4.72% Philippine Stock Index Fund Corp. -a 763.73 -7.52% -6.68% 0.24% -4.73% Soldivo Strategic Growth Fund, Inc. -a 0.6903 -11.45% -10.43% -3.61% -3.98% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4515 -12.58% -8.82% -1.36% -4.75% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8739 -7.81% -6.98% 0.08% -4.77% United Fund, Inc. -a 3.1868 -8.59% -5.85% 1.06% -3.98% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 102.4916 -7.54% -6.47% 0.96% -4.71% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.3564 33.86% 6.37% 11.58% 12.76% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7883 24.22% 11.34% n.a.

6.9% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6565 8.08% -3.24% -0.42% -0.73% ATRAM Philippine Balanced Fund, Inc. -a 2.2144 5.66% -3.12% 0.82% -3.11% First Metro Save and Learn Balanced Fund Inc. -a 2.5415 -0.76% -2.55% -0.16% -3.25% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1919 -11.89% n.a. n.a. -3.37% NCM Mutual Fund of the Phils., Inc. -a 1.9318 0.05% -0.65% 1.66% -1.64% PAMI Horizon Fund, Inc. -a 3.6665 -0.82% -1.72% 0.72% -3.21% Philam Fund, Inc. -a 16.4166 -0.68% -1.76% 0.68% -3.07% Solidaritas Fund, Inc. -a 2.0372 -1.91% -2.92% 0.58% -2.72% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4701 -6.71% -4.52% -0.46% -2.89% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9864 -0.28% n.a. n.a. -3.54% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.909 -5.01% n.a. n.a. -4.24% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.892 -6.22% n.a. n.a.

-4.4% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8624 -7.2% -5.11% -1.02% -2.85% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03848 -1.31% 3.08% 1.68% -1.64% PAMI Asia Balanced Fund, Inc. -b $1.2039 16.34% 3.82% 7.45% 4.67% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7419 17.27% 8.51% 10.04% 5.07% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.223 7.91% 4.49% n.a.

1.74% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371.48 3.44% 3.28% 2.7% 0.11% ATRAM Corporate Bond Fund, Inc. -a 1.9043 -0.24% 0.49% 0.25% 0.21% Cocolife Fixed Income Fund, Inc. -a 3.2178 2.54% 4.27% 4.65% 0.1% Ekklesia Mutual Fund Inc. -a 2.2843 2% 2.75% 2.11% -0.51% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4345 2.88% 3.25% 1.96% -0.76% Philam Bond Fund, Inc. -a 4.5943 4.51% 4.92% 2.51% -0.87% Philam Managed Income Fund, Inc. -a,6 1.3189 4.86% 4.35% 2.66% -0.17% Philequity Peso Bond Fund, Inc. -a 3.9648 4.65% 4.32% 2.55% -0.91% Soldivo Bond Fund, Inc. -a 1.0289 5.78% 4.26% 2.06% -1.26% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1903 3.14% 4.64% 3.03% -0.49% Sun Life Prosperity GS Fund, Inc. -a 1.7406 2.26% 3.91% 2.4% -0.82% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $483.64 2.51% 3.05% 2.68% -0.05% ALFM Euro Bond Fund, Inc. -a Є219.44 -0.79% 1.05% 1.27% 0.12% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2404 1.96% 3.51% 2.37% -3.12% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 0.38% 1.85% 1.36% -1.88% PAMI Global Bond Fund, Inc -b $1.0803 -2.56% 1.11% -0.07% -1.13% Philam Dollar Bond Fund, Inc. -a $2.5026 1.69% 4.8% 2.9% -1.3% Philequity Dollar Income Fund Inc. -a $0.0625519 2.83% 3.28% 2.33% 0.38% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1556 -3.21% 2.35% 1.56% -2.11% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 130.06 2.86% 3.34% 2.58% 0.19% First Metro Save and Learn Money Market Fund, Inc. -a 1.049 1.7% n.a. n.a. 0.09% Sun Life Prosperity Money Market Fund, Inc. -a 1.2991 2.28% 2.93% 2.6% 0.19% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0541 1.37% 1.78% n.a.

0.16% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2085 n.a. n.a. n.a. 6.98% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 -1% 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."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

February 23, 2021

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

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

104.7 84.1 23.85 9.92 50.2 10.84 25.6 54.6 17.3 128.1 73 1.46 3.91 0.58 3.46 1.44 0.43 816 0.8 147.6 2,198 1.03

105 84.4 23.9 9.93 50.55 11.1 25.65 55 17.6 129.9 73.05 1.47 3.92 0.6 3.56 1.48 0.44 895 0.83 148 2,200 1.05

105.9 85.5 23.85 10.14 51 10.82 25.9 54.6 17.1 128 73 1.36 3.97 0.57 3.62 1.46 0.46 815 0.75 148.4 2,198 1.03

105.9 85.5 23.9 10.16 51 11 25.9 55 17.3 129.9 74 1.49 3.97 0.57 3.62 1.48 0.46 896 0.83 148.4 2,198 1.03

104.1 84.05 23.85 9.8 50.2 10.82 25.55 54.55 17.1 124 73 1.35 3.92 0.57 3.4 1.43 0.43 815 0.72 147.5 2,198 1.03

105 84.4 23.85 9.92 50.2 11 25.6 54.55 17.3 129.9 73 1.47 3.92 0.57 3.56 1.44 0.44 896 0.83 148 2,198 1.03

3,372,420 2,316,150 288,100 965,800 5,972,690 11,000 322,500 740 4,100 693,840 26,110 10,077,000 161,000 78,000 80,000 192,000 1,560,000 270 607,000 6,250 95 2,000

353,133,147 195,682,315 6,876,555 9,602,684 301,184,421 120,900 8,282,595 40,396.50 70,630 88,122,293 1,906,511.50 14,315,910 633,090 44,460 276,980 277,030 674,500 221,670 488,080 924,440 208,810 2,060

-97,854,179 -3,722,809.50 -5,169,295 -188,027,649 -22,000 -4,071,680 -29,903,796 -647,162 1,199,680.00 -302,450 8,150 459,780 208,810 -2,060

INDUSTRIAL AC ENERGY 7.44 7.45 7.6 7.61 7.34 7.45 46,833,700 350,208,805 1.32 1.34 1.33 1.34 1.31 1.32 1,191,000 1,575,820 ALSONS CONS 25.15 25.4 25.2 25.4 25 25.4 1,108,000 27,912,205 ABOITIZ POWER 1.15 1.16 1.22 1.23 1.13 1.15 184,081,000 215,717,330 BASIC ENERGY FIRST GEN 29.85 29.9 29.95 30 29.5 29.9 786,800 23,368,545 FIRST PHIL HLDG 74.55 74.7 74.9 74.9 74.55 74.55 28,830 2,154,013 MERALCO 278.6 280 284.8 289 277.8 278.6 253,980 71,098,474 MANILA WATER 15.7 15.72 16.18 16.48 15.5 15.7 2,017,300 32,110,338 3.56 3.57 3.62 3.62 3.54 3.56 1,161,000 4,146,770 PETRON 3.8 3.87 3.85 3.85 3.8 3.8 25,000 96,000 PETROENERGY 12.2 12.48 12.5 12.5 12.2 12.48 72,500 890,332 PHX PETROLEUM PILIPINAS SHELL 21.9 21.95 22.1 22.25 21.7 21.9 556,500 12,173,965 SPC POWER 10.12 10.16 10.12 10.18 10.06 10.12 137,200 1,386,854 VIVANT 14.5 14.94 14.64 14.8 14.5 14.5 31,600 460,772 AGRINURTURE 7.06 7.19 7.1 7.23 7.05 7.2 1,292,200 9,206,028 3.31 3.33 3.36 3.36 3.29 3.33 731,000 2,430,650 AXELUM 13.62 14.18 14.02 14.02 13.8 13.8 6,300 87,194 CNTRL AZUCARERA 17.82 17.84 17.88 18.94 17.54 17.84 1,016,000 18,285,424 CENTURY FOOD DEL MONTE 8.62 8.85 8.61 8.95 8.55 8.62 430,400 3,707,702 DNL INDUS 7.3 7.31 7.35 7.35 7.06 7.3 775,400 5,582,180 EMPERADOR 9.95 10.02 10.08 10.08 9.94 10.02 490,200 4,897,246 SMC FOODANDBEV 67.4 67.8 67.8 67.8 66.95 67.8 33,570 2,250,830 0.64 0.65 0.67 0.69 0.63 0.65 837,000 546,670 ALLIANCE SELECT 1.47 1.48 1.49 1.5 1.44 1.48 9,948,000 14,582,560 FRUITAS HLDG 51.55 52 51.5 52.4 50.7 52 18,970 976,264 GINEBRA 178 178.1 178.7 178.8 175 178 1,297,570 228,923,844 JOLLIBEE LIBERTY FLOUR 35.25 35.75 35.25 35.5 35.1 35.25 4,700 165,550 6.5 6.51 6.6 6.6 6.5 6.5 233,700 1,527,224 MAXS GROUP MG HLDG 0.42 0.425 0.41 0.425 0.395 0.42 41,280,000 17,043,850 7.44 7.5 7.49 7.5 7.38 7.44 86,700 646,668 SHAKEYS PIZZA 1.15 1.16 1.13 1.15 1.13 1.15 4,824,000 5,492,100 ROXAS AND CO 4.6 4.7 4.6 4.6 4.6 4.6 1,000 4,600 RFM CORP 1.7 1.75 1.7 1.7 1.7 1.7 1,000 1,700 ROXAS HLDG SWIFT FOODS 0.142 0.144 0.146 0.15 0.142 0.142 19,140,000 2,750,830 132.5 132.6 132.9 133.3 132 132.6 745,060 98,835,322 UNIV ROBINA VITARICH 0.89 0.9 0.91 0.91 0.88 0.9 6,875,000 6,124,600 2.2 2.24 2.2 2.2 2.2 2.2 34,000 74,800 VICTORIAS 52.3 53.45 53 53 52.3 52.3 500 26,193.50 CONCRETE A 55.2 55.25 55.25 55.25 55.25 55.25 200 11,050 CONCRETE B 1.34 1.35 1.4 1.4 1.31 1.34 11,599,000 15,588,390 CEMEX HLDG EAGLE CEMENT 12.78 12.8 13 13 12.8 12.8 928,600 11,908,512 EEI CORP 8.8 8.82 8.63 8.99 8.6 8.82 1,220,000 10,764,934 HOLCIM 6.28 6.29 6.41 6.41 6.2 6.28 426,800 2,670,042 7.33 7.34 7.33 7.4 7.2 7.34 1,635,400 11,891,905 MEGAWIDE 10.88 10.96 10.86 10.96 10.86 10.96 54,600 596,164 PHINMA 1.44 1.47 1.51 1.51 1.4 1.47 1,190,000 1,733,030 TKC METALS 2.98 2.99 3.18 3.18 2.95 2.98 40,013,000 121,725,620 VULCAN INDL CHEMPHIL 142.1 160 142.1 142.1 142.1 142.1 10 1,421 CROWN ASIA 2.14 2.15 2.13 2.29 2.13 2.14 12,549,000 28,138,600 EUROMED 2.21 2.22 2.25 2.26 2.16 2.22 122,000 269,090 4.5 4.64 4.64 4.64 4.64 4.64 6,000 27,840 MABUHAY VINYL 5.4 5.45 5.4 5.45 5.3 5.4 38,500 206,415 PRYCE CORP 20.2 21 20.35 20.45 20.2 20.2 206,100 4,166,620 CONCEPCION 4.1 4.12 4.2 4.25 3.85 4.12 31,477,000 127,765,060 GREENERGY INTEGRATED MICR 13.02 13.1 13.76 13.76 12.76 13.02 5,383,300 70,470,388 IONICS 1.26 1.27 1.29 1.29 1.23 1.27 995,000 1,254,440 PANASONIC 5.68 5.8 5.68 5.8 5.66 5.8 12,800 73,418 1.51 1.53 1.55 1.55 1.5 1.51 2,535,000 3,843,010 SFA SEMICON 6.61 6.63 6.65 6.74 6.54 6.61 2,922,100 19,283,239 CIRTEK HLDG

-8,893,291 -2,660 -10,901,300 -6,213,380.00 -10,241,530 -212,553.50 -30,685,000 119,668 -663,690 51,734 3,361,930 -104,230.00 -1,450 -3,311,742 -6,670 4,140 -6,779,782 190,107 -48,582 -363,596.00 -899,458 412,460 -55,085.50 3,754,870 252,598 -2,122,800 -206,038 2,688,310.00 -22,234,308 -440,380 -2,200 140,630 -11,761,462 -1,726,389 -124,302 -677,386 -249,610 -17,440 2,271,080 -1,421 -3,762,930 5,995 -1,354,870 271,590 -1,663,634 -88,850 312,350 -806,884

HOLDING & FRIMS ABACORE CAPITAL 1.18 1.19 1.21 1.24 1.17 1.18 36,078,000 42,887,990 7.88 8.05 7.9 8.06 7.86 8.06 20,600 162,107 ASIABEST GROUP 762 764 758 765 738 762 394,420 296,174,500 AYALA CORP 42.4 43.8 43.05 43.8 42.25 43.8 676,600 29,382,765 ABOITIZ EQUITY ALLIANCE GLOBAL 10.28 10.36 10.38 10.4 10.12 10.36 6,342,800 65,147,520 AYALA LAND LOG 3.07 3.08 3.11 3.11 3.04 3.07 1,601,000 4,895,700 ANSCOR 7.35 7.37 7.39 7.39 7.21 7.37 33,400 245,941 ANGLO PHIL HLDG 0.85 0.86 0.87 0.88 0.84 0.85 8,167,000 6,959,200 0.89 0.9 0.88 0.92 0.86 0.9 7,168,000 6,399,840 ATN HLDG A 0.87 0.91 0.9 0.91 0.86 0.9 614,000 546,440 ATN HLDG B 5.39 5.4 5.48 5.48 5.31 5.4 7,307,800 39,435,975 COSCO CAPITAL DMCI HLDG 5.26 5.27 5.27 5.28 5.15 5.26 4,321,800 22,665,702 FILINVEST DEV 8.98 9 9 9 8.98 9 7,700 69,262 FJ PRINCE A 3.07 3.27 3.07 3.07 3.07 3.07 230,000 706,100 0.24 0.247 0.236 0.24 0.236 0.24 830,000 197,170 FORUM PACIFIC 548 550 552 553.5 533 550 196,860 107,008,235 GT CAPITAL 3.6 3.65 3.6 3.65 3.55 3.6 479,000 1,723,980 HOUSE OF INV 62.7 62.8 64.35 64.35 62.7 62.7 1,244,710 78,264,917.50 JG SUMMIT JOLLIVILLE HLDG 4.63 5.46 4.63 4.63 4.63 4.63 2,000 9,260 LODESTAR 1.74 1.75 1.67 1.75 1.61 1.75 37,148,000 62,766,260 LOPEZ HLDG 3.74 3.8 3.78 3.78 3.74 3.74 171,000 640,060 LT GROUP 14 14.04 14 14.04 13.7 14 2,139,900 29,818,494 0.52 0.55 0.56 0.56 0.52 0.53 1,355,000 724,580 MABUHAY HLDG 4.17 4.19 4.15 4.19 4.07 4.19 31,220,000 129,301,370 METRO PAC INV 5.05 5.18 5.22 5.22 5.04 5.19 142,400 724,745 PACIFICA HLDG PRIME MEDIA 2.41 2.42 2.15 2.45 2.02 2.42 16,192,000 36,906,450 REPUBLIC GLASS 3.45 3.5 3.8 3.8 3.34 3.45 733,000 2,617,110 SOLID GROUP 1.28 1.3 1.29 1.3 1.28 1.29 423,000 547,610 313 348 313 313 313 313 60 18,780 SYNERGY GRID 1,030 1,060 1,030 1,060 1,010 1,060 286,215 297,897,620 SM INVESTMENTS 125 125.8 125.9 125.9 123.9 125.8 113,030 14,112,447 SAN MIGUEL CORP 0.79 0.8 0.8 0.81 0.79 0.8 1,146,000 910,640 SOC RESOURCES 2.37 2.65 2.36 2.36 2.36 2.36 4,000 9,440 SEAFRONT RES TOP FRONTIER 136.1 142 142 142 135.7 142 1,780 250,369 WELLEX INDUS 0.236 0.25 0.25 0.25 0.236 0.236 230,000 56,160 ZEUS HLDG 0.241 0.245 0.265 0.265 0.24 0.245 5,000,000 1,244,120

-1,090,280 3,950 -124,600,380 -11,787,880 -5,444,840 -364,190 -2,209 265,250 -106,600 -6,596,187 1,609,849 15,266 -27,565,075 -633,650 -38,600,782.50 -9,260 59,180 -456,450 -15,596,576 4,518,470 458,900.00 -56,350 -48,999,120 -2,536,671 -2,400 -2,360 -55,317 -2,360 -7,280

PROPERTY ARTHALAND CORP 0.64 0.65 0.66 0.67 0.64 0.64 2,596,000 1,684,030 7.46 7.9 7.92 7.92 7.9 7.9 5,000 39,520 ANCHOR LAND 38.2 38.45 38.5 38.65 38.15 38.2 6,764,400 259,007,145 AYALA LAND 1.32 1.42 1.34 1.42 1.3 1.42 79,000 104,890 ARANETA PROP AREIT RT 34.1 34.2 34.5 34.5 34 34.2 671,200 22,948,225 BELLE CORP 1.67 1.68 1.68 1.68 1.65 1.66 82,000 136,490 A BROWN 0.92 0.93 0.94 0.94 0.9 0.93 1,251,000 1,152,770 CITYLAND DEVT 0.77 0.79 0.77 0.77 0.77 0.77 8,000 6,160 0.148 0.151 0.151 0.151 0.148 0.151 990,000 147,070 CROWN EQUITIES 6.53 6.55 6.11 6.8 6.11 6.53 848,300 5,391,849 CEBU HLDG 5.24 5.25 5.25 5.25 5.1 5.25 632,700 3,275,654 CEB LANDMASTERS CENTURY PROP 0.4 0.405 0.41 0.41 0.4 0.405 3,560,000 1,430,250 CYBER BAY 0.345 0.355 0.36 0.365 0.345 0.345 490,000 171,600 DOUBLEDRAGON 14.98 15.1 15.12 15.2 14.76 15.1 2,048,700 30,680,420 DM WENCESLAO 6.56 6.6 6.71 6.76 6.45 6.6 417,000 2,776,282 0.3 0.305 0.305 0.305 0.295 0.3 1,020,000 308,650 EMPIRE EAST 0.089 0.093 0.093 0.093 0.088 0.093 2,290,000 203,070 EVER GOTESCO 1.14 1.15 1.15 1.16 1.12 1.15 12,912,000 14,679,150 FILINVEST LAND GLOBAL ESTATE 0.9 0.91 0.9 0.91 0.9 0.91 375,000 339,590 7.5 7.62 7.65 7.65 7.5 7.5 24,600 186,528 8990 HLDG 1.51 1.52 1.52 1.53 1.47 1.51 2,624,000 3,940,360 PHIL INFRADEV KEPPEL PROP 3.05 3.15 3 3.05 3 3.05 11,000 33,050 0.7 0.75 0.7 0.74 0.7 0.7 16,000 11,320 CITY AND LAND 3.73 3.76 3.79 3.85 3.69 3.76 20,846,000 77,830,250 MEGAWORLD 0.52 0.53 0.56 0.56 0.52 0.52 83,511,000 44,438,150 MRC ALLIED PHIL ESTATES 0.435 0.44 0.42 0.42 0.42 0.42 190,000 79,800 1.51 1.52 1.52 1.52 1.48 1.51 1,784,000 2,687,350 PRIMEX CORP ROBINSONS LAND 19 19.02 19.06 19.26 18.98 19.02 1,788,300 34,023,244 PHIL REALTY 0.29 0.3 0.31 0.31 0.29 0.295 260,000 76,700 1.51 1.52 1.51 1.53 1.49 1.51 1,661,000 2,520,120 ROCKWELL 2.65 2.74 2.77 2.77 2.65 2.65 20,000 53,940 SHANG PROP 2.13 2.2 2.2 2.22 2.12 2.2 648,000 1,398,480 STA LUCIA LAND 35.5 35.7 35.6 35.85 35.3 35.5 10,150,700 360,310,640 SM PRIME HLDG VISTAMALLS 3.95 4 3.95 4 3.95 4 96,000 381,690 1.79 1.8 1.78 1.85 1.71 1.8 5,916,000 10,327,080 SUNTRUST HOME PTFC REDEV CORP 40.1 47.75 40.1 40.1 40.1 40.1 100 4,010 4.2 4.23 4.25 4.25 4.17 4.2 1,135,000 4,765,990 VISTA LAND

4,400 -2,376 -87,357,630 -1,320 -4,647,385.00 -25,180 -1,840 770 -2,320,570 -58,248 -300 3,550.00 228,404 -9,150 89,000 4,084,080 172,440 -44,038,370 401,100 1,223,900 -18,070,358.00 -718,560 -44,200 -188,234,405 -148,020 -4,010 252,790

SERVICES ABS CBN 12.22 12.24 12.26 13.4 12 12.24 329,400 4,099,086 7.24 7.27 7.27 7.3 6.9 7.27 2,152,300 15,398,307 GMA NETWORK 0.465 0.475 0.46 0.47 0.46 0.465 400,000 185,450 MANILA BULLETIN 1,977 2,030 2,036 2,036 1,977 1,977 74,935 150,496,605 GLOBE TELECOM PLDT 1,313 1,316 1,312 1,330 1,307 1,313 151,765 199,255,860 APOLLO GLOBAL 0.27 0.275 0.265 0.28 0.25 0.275 1,633,480,000 430,255,150 CONVERGE 17.76 17.8 17.74 17.82 17.4 17.76 6,961,800 122,674,830 DFNN INC 4.66 4.7 4.99 4.99 4.55 4.66 2,164,400 10,179,935 17.78 17.8 19 19 17.8 17.8 106,441,900 1,970,167,966 DITO CME HLDG 1.8 1.81 1.81 1.81 1.8 1.8 21,000 37,900 IMPERIAL 0.175 0.176 0.184 0.188 0.174 0.176 25,120,000 4,506,990 ISLAND INFO JACKSTONES 2.12 2.15 2.04 2.16 2.03 2.15 162,000 340,390 2.96 2.97 3.06 3.06 2.9 2.96 12,974,000 38,485,200 NOW CORP TRANSPACIFIC BR 0.48 0.485 0.5 0.51 0.475 0.48 74,042,000 36,039,445 PHILWEB 2.56 2.6 2.59 2.62 2.55 2.6 1,278,000 3,299,920 8.32 8.4 8.79 8.79 8.4 8.4 39,900 337,128 2GO GROUP 14.74 15.5 15.5 15.98 14.74 14.74 35,500 550,280 ASIAN TERMINALS 4.29 4.3 4.49 4.62 4.3 4.3 3,309,000 14,583,720 CHELSEA CEBU AIR 46.5 46.55 46.8 46.95 45.6 46.5 839,400 38,840,405 INTL CONTAINER 119.7 120 118.3 120 117.2 120 1,369,250 162,365,304 LBC EXPRESS 16.06 16.58 16.06 16.06 16.06 16.06 1,400 22,484 0.98 1.03 0.97 1.03 0.97 0.98 31,000 30,430 LORENZO SHIPPNG 5.53 5.54 5.7 5.7 5.45 5.54 2,094,200 11,614,615 MACROASIA 2.71 2.79 2.9 2.9 2.7 2.79 1,943,000 5,390,500 METROALLIANCE A 6.22 6.27 6.3 6.46 6.22 6.27 53,400 333,840 PAL HLDG HARBOR STAR 1.32 1.35 1.36 1.37 1.31 1.35 1,624,000 2,172,150 ACESITE HOTEL 1.45 1.48 1.45 1.45 1.45 1.45 11,000 15,950 BOULEVARD HLDG 0.044 0.045 0.039 0.047 0.038 0.044 504,700,000 22,180,200 DISCOVERY WORLD 5.2 5.22 4.9 5.2 4.6 5.2 2,944,000 14,447,090 0.54 0.55 0.56 0.57 0.54 0.54 10,370,000 5,671,980 WATERFRONT 584.5 600 600 600 600 600 790 474,000 FAR EASTERN U 8.3 8.48 8.12 8.3 8.07 8.3 1,600 13,079 IPEOPLE 0.395 0.4 0.4 0.405 0.395 0.4 4,870,000 1,945,250 STI HLDG BERJAYA 4.42 4.5 4.34 4.66 4.31 4.42 581,000 2,694,040 7.49 7.5 7.55 7.75 7.43 7.5 3,198,200 24,000,359 BLOOMBERRY PACIFIC ONLINE 2.1 2.15 2.06 2.3 2.05 2.1 772,000 1,665,950 1.86 1.87 1.77 1.86 1.72 1.86 1,219,000 2,200,620 LEISURE AND RES 2.1 2.19 2.11 2.19 2.1 2.19 635,000 1,339,270 MANILA JOCKEY 2.59 2.6 2.6 2.61 2.53 2.6 7,134,000 18,376,570 PH RESORTS GRP 0.47 0.475 0.48 0.485 0.465 0.475 7,980,000 3,783,050 PREMIUM LEISURE ALLHOME 7.98 8 8.2 8.2 7.95 8 1,417,500 11,370,142 METRO RETAIL 1.38 1.4 1.41 1.42 1.37 1.38 5,715,000 7,982,030 PUREGOLD 36.05 36.4 36.85 36.85 35.9 36.05 2,608,500 94,519,975 54.4 54.7 55.5 55.9 54.15 54.4 887,860 48,510,393 ROBINSONS RTL 101.1 101.5 103.7 103.7 101.1 101.5 88,860 9,110,344 PHIL SEVEN CORP 1.36 1.37 1.35 1.37 1.3 1.36 6,277,000 8,267,130 SSI GROUP 17.92 18 17.96 18 17.92 18 1,664,000 29,927,384 WILCON DEPOT APC GROUP 0.415 0.43 0.425 0.43 0.41 0.43 5,980,000 2,480,450 EASYCALL 6.9 7 6.91 7.1 6.9 6.9 74,000 513,175 428 440 433 440 425.2 440 610 265,560 GOLDEN MV 5.05 5.15 5 5 5 5 5,000 25,000 IPM HLDG 2.91 2.94 3.24 3.34 2.91 2.91 366,719,000 1,140,176,550 PRMIERE HORIZON 4.45 4.55 4.53 4.53 4.5 4.5 67,000 301,730 SBS PHIL CORP

-86,751,550 -67,728,265 12,042,500 10,176,900.00 481,131 12,645,386 81,520 -2,706,830 487,675 88,390 8,408 -2,948 -209,740 18,152,705 -23,170,544 -32,931 41,250 -82,280 -4,350 -30,500 572,850 -1,180,150 -7,361,059 115,780 -24,020 -325,300 9,400 -2,388,654.00 4,140 -57,033,710 2,011,961.50 32,600 1,956,820 9,898,090 225,450 -3,305,460 -4,510

MINING & OIL ATOK 7.51 7.66 7.85 7.85 7.5 7.66 1,324,600 9,966,081 286,155 1.61 1.62 1.65 1.65 1.59 1.61 4,894,000 7,895,650 491,370 APEX MINING 0.0038 0.0039 0.0039 0.0042 0.0036 0.0039 20,389,000,000 79,556,800 90,800 ABRA MINING ATLAS MINING 6.85 6.86 6.88 6.93 6.69 6.85 806,700 5,527,210 197,913 BENGUET A 2.8 2.83 2.88 2.93 2.81 2.83 166,000 472,940 2.81 2.82 2.83 2.83 2.82 2.82 35,000 98,730 -8,490 BENGUET B COAL ASIA HLDG 0.345 0.35 0.365 0.38 0.345 0.35 8,640,000 3,159,550 -127,200 2.76 2.8 2.82 2.82 2.8 2.8 37,000 103,800 CENTURY PEAK 12.02 12.36 12.88 13 12 12.36 221,000 2,747,066 DIZON MINES 3.06 3.07 3.18 3.2 3.01 3.07 22,981,000 71,095,480 14,436,560 FERRONICKEL GEOGRACE 0.51 0.52 0.53 0.54 0.5 0.52 9,636,000 4,922,820 52,000 LEPANTO A 0.158 0.159 0.162 0.164 0.156 0.158 23,240,000 3,701,730 0.157 0.16 0.16 0.161 0.157 0.16 1,920,000 306,100 -47,100 LEPANTO B MANILA MINING A 0.01 0.011 0.01 0.011 0.01 0.01 76,300,000 768,000 0.01 0.011 0.01 0.011 0.01 0.01 46,100,000 466,700 MANILA MINING B 1.76 1.77 1.79 1.8 1.68 1.77 2,414,000 4,223,410 -160,280 MARCVENTURES 2.79 2.9 2.84 3.1 2.79 2.9 576,000 1,656,750 2,800 NIHAO NICKEL ASIA 6.24 6.25 6.35 6.4 6.02 6.25 21,160,100 132,269,979 35,482,175 OMICO CORP 0.48 0.485 0.51 0.56 0.45 0.48 3,491,000 1,724,085 -126,840 ORNTL PENINSULA 1.16 1.17 1.2 1.21 1.14 1.17 4,227,000 4,932,240 -409,850 PX MINING 5.06 5.08 5.12 5.15 5 5.08 1,998,600 10,147,074 -150,226.00 12.52 12.6 12.6 12.6 12.3 12.56 1,555,500 19,414,104 -9,702,174 SEMIRARA MINING 0.01 0.011 0.011 0.012 0.0098 0.011 612,000,000 6,385,570 -9,800 UNITED PARAGON 19.4 19.6 20.75 20.75 19.04 19.4 277,600 5,487,614 1,005,364 ACE ENEXOR ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.013 138,000,000 1,734,100 0.013 0.014 0.013 0.013 0.013 0.013 26,000,000 338,000 ORNTL PETROL B 0.013 0.014 0.014 0.014 0.013 0.014 389,200,000 5,171,900 PHILODRILL 9.21 9.24 9.33 9.5 9.21 9.21 441,800 4,106,335 556,012 PXP ENERGY

PREFFERED HOUSE PREF B 100.5 101 101 101 100 101 1,720 173,110 100.5 102 103 103 102 102 20 2,050 HOUSE PREF A 517 520 517 517 517 517 10 5,170 AC PREF B1 101.2 102 102 102 102 102 40 4,080 ALCO PREF B AC PREF B2R 512 525 512 512 512 512 1,100 563,200 100.5 103.9 102.1 103.9 100.1 103.9 11,630 1,180,700 CPG PREF A 101 101.5 102 102 101 101 1,800 181,905 DD PREF 106.2 110.2 106.3 106.5 106.3 106.3 19,210 2,042,063 FGEN PREF G 1,003 1,030 1,002 1,030 1,002 1,030 10 10,160 GTCAP PREF A 1,030 1,035 1,030 1,030 1,030 1,030 2,990 3,079,700 GTCAP PREF B 100.2 100.5 100.3 100.3 99.5 100.2 83,330 8,328,815 MWIDE PREF PNX PREF 3B 102.3 104 104 104 102.3 104 67,520 6,981,298 1,000 1,003 1,002 1,002 1,000 1,000 170 170,200 PNX PREF 4 1,012 1,045 1,045 1,045 1,045 1,045 30 31,350 PCOR PREF 2B 1,098 1,120 1,120 1,120 1,098 1,098 1,200 1,335,560 PCOR PREF 3A 1,111 1,139 1,120 1,120 1,111 1,111 450 500,220 PCOR PREF 3B 1.63 1.76 1.52 1.57 1.52 1.57 7,000 10,740 SFI PREF 79.4 80 79.1 80 79.1 80 570 45,361 -2,376 SMC PREF 2C SMC PREF 2E 76.1 77.5 76.1 77.5 76.05 77.5 4,130 315,093 -2,283 SMC PREF 2F 77.8 79.3 77.75 79.3 77.75 79.3 900,290 71,392,642 -2,334 SMC PREF 2G 76 76.9 76 76.9 76 76.9 395,080 30,381,625 -2,280 SMC PREF 2H 77 78.9 77 77 77 77 30 2,310 -2,310 77.4 78.4 77.25 77.35 77.25 77.35 9,230 713,020.50 -2,320.50 SMC PREF 2I 76.7 77 77 77 76.7 77 57,200 4,404,093.50 SMC PREF 2J 76.3 76.85 76.8 76.85 76.3 76.85 77,040 5,880,887 -76,800 SMC PREF 2K

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.6 12.1 12.08 12.08 11.26 11.6 13,900 165,868 -41,444 6.94 6.96 6.97 6.97 6.8 6.96 169,300 1,171,995 87,758 GMA HLDG PDR

WARRANTS LR WARRANT 0.96 0.97 0.86 0.96 0.85 0.96 1,092,000 993,780 116,200

SMALL & MEDIUM ENTERPRISES ALTUS PROP 19.6 19.8 20.2 20.45 19.4 19.6 262,700 5,243,434 2,040 2.97 2.98 3.03 3.03 2.9 2.97 4,580,000 13,476,790 1,606,310 ITALPINAS 5.91 5.95 6 6 5.9 5.91 17,800 105,645 KEPWEALTH 2.54 2.8 2.66 2.8 2.62 2.8 30,000 79,180 MAKATI FINANCE MERRYMART 7.03 7.04 6.93 7.19 6.62 7.03 38,362,100 263,981,993 999,874

EXHANGE TRADE FUNDS

FIRST METRO ETF 102.7 103.3 103.6 103.6 102.4 102.7 66,060 6,798,471 580,807

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Wednesday, February 24, 2021

B3

Psalm to prepay ₧19-B obligation with BTr

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By Bernadette D. Nicolas

@BNicolasBM

HE Power Sector Assets and Liabilities Management Corp.

(PSALM) is targeting to reduce its maturing obligations by P24.63 billion and prepay its obligations of P19 billion with the Bureau of the Treasury (BTr) this year.

PSALM President and CEO Irene Joy Besido-Garcia said in a report they are also aiming to collect P10.33 billion in power sales and P359 million in overdue or delinquent accounts.

It will also strive to maintain its 98-percent collection goal for the Universal Charge (UC) as well as the 100-percent disbursement rate for the UC for missionary electrifica-

tion and renewable energy, according to Besido-Garcia.

Apart from these, she added PSALM will also be unloading real estate assets worth P948.93 million combined and privatize power assets, including the Malaya Thermal Power Plant (MTTP) in Pililla, Rizal.

Last year, PSALM brought down its financial dues by P40.3 billion by the end of 2020, which is four times

over its P10.184-billion target.

PSALM earlier reported that its financial obligations were reduced to P381.72 billion as of end-December last year from P422.01 billion at the start of the year.

Moreover, the state-run firm a lso col lected P12.89 bi l lion from power sales last year, representing a 93.9-percent collection efficiency.

On top of this, Psalm collected P2.61 billion from overdue or delinquent accounts, which was P1.66 billion or 175 percent more than its 2020 goal of P945 million, which Besido-Garcia said was done by allowing flexible payment options that encouraged power customers to settle their past arrears.

Psalm also got P16.69 billion from the UC due from power distribution utilities and other electricity suppliers, achieving its 98-percent collection goal.

All these collections were utilized by PSALM to pay not just its

financial obligations, but also all the interest and borrowing costs that matured in 2020 amounting to P12.83 billion.

A total of P11.99 billion in UC for missionary electrification was also fully disbursed by the firm to the National Power Corp. and another P6.2 million was released to renewable energy developers, Besido-Garcia said.

Deferred privatization proceeds collected by the firm also stood at P38.66 billion last year while disposal of real property assets yielded PSALM with P51.65 million even amid the Covid-19 pandemic. This was done by adjusting some of its bidding procedures to allow online participation of bidders, remittance by bank transfers and no-contact transactions.

To raise funds from real estate assets not yet scheduled for privatization, Besido-Garcia aid Psalm entered into short-term lease agreements involving these properties,

Cryptocurrency exchange resumes operations

By Bianca Cuaresma @BcuaresmaBM

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HE Philippine Digital Asset Exchange (PDAX) announced that it has resumed operations after it has shut down its system due to an internal problem.

In a virtual news conference last Tuesday, PDAX Founder and CEO Nichel O. Gaba said they have conducted a systems maintenance check following a surge in cryptocurrency trading.

“When we discovered that an unfunded order made it to the system, we took the exchange down to pre-

vent that order from affecting other accounts,” Gaba said.

He said while he knows this activity caused concern and anxiety among their users, the 36-hour system check was necessary to “protect them, the public and the integrity of the market.”

PDAX is a cryptocurrency exchange, which began retail operations in 2019. It is regulated by the Bangko Sentral ng Pilipinas (BSP) and allows its users to trade bitcoin, ethereum, and other cryptocurrency using the Philippine peso.

According to Gaba, they have seen a steady increase in Filipinos’ inter-

est in cryptocurrencies, amidst the pandemic.

The crypto exchange said it has been scaling its capabilities to accommodate more users and more volumes of transactions. Still, one isolated and unfunded order found its way into the PDAX system and affected the accounts of other users.

Gaba said they expect to complete all the system and user account restorations by February 24. Deposits and withdrawals of cryptocurrency are also enabled. However, because of added safety measures, it will not yet be fully automated and users may still encounter delays.

The digital asset exchange also said they are in close coordination with the BSP on the matter.

Just last year, the Anti-Money Laundering Council (AMLC) urged Filipinos to be more “cautious and vigilant” in their digital transactions, as suspicious digital activity has been on the rise along with digital payments due to the pandemic.

The AMLC said some of these include fraudsters pretending to be affiliated with a government unit and a government agency in soliciting COVID-19 donations and Online shopping swindling schemes involving Bitcoins and other cryptocurrencies.

RCBC targets to register ₧5-B net earnings in ’21

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FTER booking a 7-percent net income decline in 2020, Rizal Commercial Banking Corp.

(RCBC) is aiming to register doubledigit growth this year, banking on better macroeconomic conditions as more business activities resume.

“Our target is still to grow doubledigit—that is one thing we want to achieve,” RCBC Corporate Planning Head Ma. Christina P. Alvarez said in a briefing on Tuesday.

Alvarez explained that provisions for potential credit losses are likely tempered this year because nonperforming loans (NPLs) already peaked in 2020. With this, the RCBC official said that “better growth” is expected in 2021, but noted it was still too early to tell the actual profit guidance of the bank for the year.

Last year, RCBC explained that impairment losses—which grew by 26.1 percent to P9.33 billion— dragged its bottom-line figures to P5.018 billion, much lower than the P5.388 billion registered in 2019.

Still, gross income improved by 6 percent to P37.9 billion year-onyear on the back of robust core busi-

nesses. Net interest income rose by 18 percent to P26.3 billion for the period due to lower funding costs and higher margins.

Loan portfolio increased by 5 percent to P456.6 billion last year. This was supported by the 8-percent and 5-percent growth in small and medium enterprises and consumer loan segments, respectively. NPL ratio stood at 2.9 percent as of end-2020.

The RCBC official is expecting more opportunities for growth in its loan book this year. “Continuing with what we have been doing last 2020, we will build on accrual income,” she said.

Alvarez also said that the bank already has frontloaded the loan loss provisions in the fourth quarter last year, which are enough to cover 2021 operations.

Deposits, meanwhile, grew by 17.3 percent to P535.788 billion last year from P456.581 billion in 2019, with Alvarez explaining that current and savings accounts increased in the fourth quarter of 2020.

With process reengineering and rationalization efforts, RCBC noted

that loans and deposits per branch ratio improved by 24 percent and 33 percent, respectively, last year.

As of end-December 2020, total assets and capitalization stood at P770.8 billion and P101.5 billion, respectively. Capital adequacy ratio and common equity tier 1 are currently at 16.1 percent and 12.6 percent, respectively.

Return on equity stood at 5.6 percent while return on assets reached 0.7 percent last year. “At the end of the day, we ended the year with a strong financial position, with acceptable returns for the shareholders,” RCBC Treasurer Horacio E. Cebrero 3rd said.

Bond issuance for 2021

RCBC is eyeing to launch benchmark sized foreign currency denominated senior note offering this year, Cebrero confirmed, looking initially at a size of $300 million depending on the bank’s asset build up.

He confirmed that the board of directors greenlighted the planned venture to the foreign bond market, which will be drawn out of its

medium-term note program, last February 22.

“We deem it proper at this point, looking at how the market is developing, to get approvals ahead,” the RCBC treasurer said. “We don’t have a set timetable; we are still assessing the market.”

The offering, which could potentially be launched by second quarter or beyond, may offer green or sustainable financial instruments, he said.

“If there is a good opportunity for us to go out to international market, then we will go for it,” Cebrero said.

In August last year, the Yuchengco-led bank made a debut in the offshore bond market with its $300-million Reg S issuance. The proceeds of the offering were allocated to finance asset growth and other general corporate matters and to maintain enough reserves above the minimum requirements by the Bangko Sentral ng Pilipinas.

RCBC shares ended flat at P17.30 each amid the 0.06-percent rise for the benchmark index on Tuesday.

Tyrone Jasper C. Piad

which generated P29.5 million in additional revenues in 2020.

Psalm also saved P15.01 million due to the early payment of real property taxes while the package sale of unserviceable assets in various locations raised P26.45 million more in additional revenues With the signing of Executive Order 117, Psalm also reduced its real property tax liability to P199 million from P1.06 billion, which led to savings of P861 million for the wholly-owned and controlled government entity.

The firm also successfully lowered the average interest rate on its borrowings to 4.17 percent by end2020, from an average of 5.07 percent in end-2019, and with PSALM increasing the share of its loans sourced from the domestic market to 33.55 percent to mitigate its foreign exchange risks.

PSALM saved P212.85 million in 2020 from competitive bidding exercises for the purchase of its

foreign exchange requirements to service maturing debts. PSALM also effectively defended its legal position in several legal cases to either save or raise funds amounting to over P1 billion.

To support the government’s COVID-19 response programs, PSALM also extended the due dates of power billings, UC remittances and submission of UC reports to PSALM. It also facilitated the early release of P183.21 million to 113 local government units (LGUs) as their share in national wealth and another P505.6 million in Energy Regulations 1-94 Funds to 16 LGU beneficiaries. Likewise, PSALM remitted P92.24 million in dividend payments to BTr in 2020 to support the government’s pandemic response.

According to Besido-Garcia, PSALM also maintained its ISO 9001:2015, indicating its firm commitment to ensure that its business processes and systems meet international quality standards.

Consumer finance firm to get addl ₧3-B capital

By Tyrone Jasper C. Piad @Tyronepiad

S

ECURITY Bank Corp. and its partner Bank of Ayudhya (also known as Krungsri) are investing additional capital of P3 billion in consumer finance subsidiary SB Finance Co. Inc. In a disclosure on Tuesday, the listed bank reported that both financial institutions have approved the plan to infuse more equity in SB Finance.

The consumer finance arm will issue 25.85 million common shares to be equally subscribed by Security Bank and Krungsri after the entities secured regulatory approvals.

Amid the 0.06-percent increase for the benchmark index on Tuesday, shares in Security Bank climbed by 0.70 percent, or 90 centavos, to close at P129.90 each.

SB Finance President and CEO Abigail Marie D. Casanova said that the capital is allocated for business expansion as the company is set to launch multiple products this year, anticipating the return of pent-up demand in the consumer finance segment.

“The additional capital will also be used to fund investment in the latest cloud-based technology that will support our end-to-end customer journey coupled with our digital transformation, and the strengthening of internal capabilities as we build and expand our operations,” Casanova added.

Amid the 0.06-percent increase for the benchmark index on Tuesday, shares in Security Bank climbed by 0.70 percent, or 90 centavos, to close at P129.90 each.

Security Bank President and CEO Sanjiv Vohra said that the additional capital investment signals the bank’s support in the economic recovery of

the country.

“This move shows that SB Finance is ready to help foster economic growth as businesses begin to recover from the effects of the pandemic,” he said. “This additional capital infusion further cements Security Bank’s strategic partnership with Krungsri to help rebuild consumer confidence and foster financial inclusion.”

Security Bank first made the announcement about its partnership with Krungsri in August 2019, allowing the Thai bank to acquire 50-percent stake in SB Finance.

The Philippine Competition Commission approved the transaction in September last year. The partnership was finalized a month after this.

The deal is seen resulting in SB Finance growing its loan portfolio and loan products being offered to its clients. Both the Security Bank’s strength in unsecured personal loan segment and Bank of Ayudhya’s expertise in the Asean retail finance market are expected to aid the consumer finance product offering and service of SB Finance.

In a separate disclosure, Security Bank declared dividends on preferred shares to be paid on April 5 and July 12.

The listed bank saw its net income decline by 13 percent to P6.7 billion in January to September 2020 from P7.7 billion year-on-year due to elevated provisions for potential credit losses.

However, the bank recorded a 66-percent increase in total revenues for the period at P40.2 billion. Top line figures, excluding the trading gains, soared by 22 percent to P27.9 billion.

It earmarked a loan loss buffer of P21.1 billion in the first nine months of 2020, which is markedly higher compared to P1.8 billion in 2019.

WB’s Covid fight to bring new ESG issuance record

T

ASIA PIVOT

Two women pass by an HSBC building in Hong Kong. HSBC Holdings Plc. said it plans to spend more than $6 billion over the next five years to expand its Asian operations. Bloomberg Photo

HE International Finance Corp. is on track to sell a record amount of environmental and social bonds as part of its global response to the pandemic.

The World Bank Group’s arm for the private sector expects its sustainable bond sales this year will likely surpass the previous high of $2.3 billion it set in 2017, according to John Gandolfo, vice president and treasurer at IFC. Issuance will come in different currencies, and proceeds will to go to clients globally, including small businesses, low-income households and poor and fragile nations, he said.

“IFC is certainly focused on, first and foremost, its response to the pandemic and saving jobs,

lives, livelihoods and also building a path to a resilient recovery,” Gandolfo said in an interview.

It raised about $2.2 billion in debt tied to environment, social and governance last year, including a record $1.9 billion in social bonds.

One key area of focus this year is vaccine campaigns, especially in emerging markets where distribution has been slow compared to developed nations, he said.

IFC said it has already raised $440 million in social bonds across five different currencies in its current fiscal year, which runs July 1 to June 30. That included its first bond swapped from fixed-rate to the new Secured Overnight Financing Rate benchmark interest rate. The organization is also

looking to issue social bonds in additional currencies to reach more investors.

Social boom

COMPANIES, sovereigns, supranationals and agencies ramped up issuance of social bonds last year to support relief efforts at the height of the pandemic. Sales of the debt jumped sevenfold to $147.7 billion in 2020 amid strong investor demand and IFC estimates as much as $200 billion this year, Gandolfo said.

IFC priced its largest social bond—a $1 billion deal—on March 11, the same day the World Health Organization declared the virus a global pandemic and financial markets endured their worst

turmoil in a decade. The note sale was 3.4 times oversubscribed, according to IFC, with nearly half of the deal bought by Asia-Pacific investors. The huge demand helped the AAA-rated issuer see a pricing benefit of 1 basis point to 2 basis points.

The organization, which works with more than 2,000 businesses worldwide, delivered $22 billion in long-term financing for developing countries in fiscal year 2020, according to its social bond impact report. Sustainable bonds contribute about 20 percent of IFC’s funding program.

“There’s going to be a lot of financing related to the pandemic that still is left to come,” said Gandolfo. Bloomberg News

B4

Show BusinessMirror

Wednesday, February 24, 2021 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: O’Shea Jackson Jr., 30; Billy Zane, 55; Helen Shaver, 70; Edward James Olmos, 74.

Happy Birthday: Don’t limit what you can do.

Verify facts, and move forward with confidence. Be willing to put in the energy and time required to make a difference. Positive acts will bring the results you desire.

Put an end to emotional spending. A change to how you earn or handle your money will set the stage for a better future. Your numbers are 6, 11, 18, 25, 34, 36, 49.

HER REAL SELF

A FORMER employee of a popular star has spoken out about her and how she treated this person. While the former employee was never abused physically, she experienced mental and emotional abuse at the hands of the star who has a totally different public image. According to the former employee, the star had this habit of looking for things just when they are about to leave the house for work and then throwing a tantrum if she couldn’t find it right away. The star also reportedly liked talking down to her former employee whenever there were other people around. She’d allegedly wouldn’t scream in public but she would talk to her ex-staff in a humiliating way.

SHADOW-BANNED

THE actress, by this time, has realized that she is shadow-banned in the industry and is literally making both ends meet as an influencer. The thing about the actress is that she is full of pride and would never bow down to anyone even if she is having a difficult time. So she is waiting it out until those who have had her shadow-banned will leave her alone. The thing is that these people have said that they won’t and they’ll wait until she quits showbiz. It doesn’t help that the actress is difficult to work with and doesn’t have too many friends in the industry to help her through difficult times.

IN CRISIS

THE actor who is having a social-media crisis due to his love life is known for his temper and negative attitude. It’s not that he is a bad person; it’s just that he has a victim’s mentality and always thinks people are out to get him. This is why he comes across as temperamental and moody. Regarding the recent crisis in his life, the actor couldn’t care less about airing his dirty laundry. He feels he has been wronged and so he will talk about his feelings even if doing so gets him in trouble. So what will happen to his career now? He really doesn’t care. The actor’s weakness is love and he is in love and unbothered.

IS THIS TRUE LOVE?

THE rumored love affair of the elusive actor and the controversial actress is something that’s celebrated in many sectors of showbiz. Not so much among the actor’s household staff. The issue is that the members of the actor’s household are reportedly not happy about the actress practically living in his house and treating them all like dirt. The household members have allegedly said they resent it that the actress doesn’t even know how to say “please” or “thank you.”

How long will the elusive actor be enamored with the actress? Nobody knows. For all we know, they could be each other’s one true love.

a

ARIES (March 21-April 19): Find your balance, embrace discipline and go after your dreams.

Think outside the box; use your knowledge and skills to suit trends. Keep up, find solutions and make a difference. Personal gains look promising. Romance and self-improvement are favored. HHHHH

b

TAURUS (April 20-May 20): Take your time, be cautious and make necessary changes.

Let experience, not your emotions, dictate how you progress. Look for original ways to solve old problems, and you will spark enthusiasm and support from those who have something to offer. HH

It’s final: Harry and Meghan won’t return as working royals

L

By Jill Lawless The Associated Press

ONDON—Buckingham Palace confirmed on Friday that Prince Harry and his wife, Meghan, will not be returning to royal duties, and Harry will give up his honorary military titles—a decision that makes formal, and final, the couple’s split from the royal family.

When Harry and Meghan stepped away from full-time royal life in March 2020, unhappy at media scrutiny and the strictures of their roles, it was agreed the situation would be reviewed after a year.

Now it has, and the palace said in a statement that the couple, also known as the Duke and Duchess of Sussex, have verified “they will not be returning as working members of the Royal Family.”

It said Queen Elizabeth II had spoken to 36-yearold Harry and confirmed “that in stepping away from the work of the Royal Family, it is not possible to continue with the responsibilities and duties that come with a life of public service.”

The palace said Harry’s appointment as captain general of the Royal Marines and titles with other military groups would revert to the queen before being distributed to other members of the family.

Harry served in the British army for a decade, including on the front line in Afghanistan, and retains a close bond with the military. He founded the Invictus Games competition for wounded troops, which first was held in 2014 at London’s Queen Elizabeth Olympic Park.

The Invictus Games Foundation said Harry would remain its patron. But he is relinquishing positions as patron of the Rugby Football Union, the Rugby Football League and the London Marathon Charitable Trust. Meghan, 39, will be stripped of her role as patron of Britain’s National Theatre and the Association of Commonwealth Universities.

“While all are saddened by their decision, the Duke and Duchess remain much loved members of the family,” the palace statement said.

American actress Meghan Markle, a former star of the TV legal drama Suits, married the queen’s

grandson Harry at Windsor Castle in May 2018. Their son, Archie, was born a year later.

In early 2020, Meghan and Harry announced they were quitting royal duties and moving to North America, citing what they said were the unbearable intrusions and racist attitudes of the British media toward the duchess, who identifies as biracial.

The couple agreed to no longer use the title “royal highness” or receive public funds for their work, although it was unclear at the time if those decisions would stand.

They retain their titles of duke and duchess, and Harry is still sixth in line to the British throne. Harry and Meghan now live in Santa Barbara, California and are expecting their second child. The couple recently announced they would speak to Oprah Winfrey for a TV special to be broadcast next month.

Angela Levin, who has written a biography of Prince Harry, said the queen’s anxiety about what the Winfrey interview might disclose may have prompted the royal family to announce the split with Harry and Meghan sooner than planned.

“They’re out on their own,” she said. “They’ve got the freedom that they longed for.”

They continue to have a tense relationship with sections of the British media. Earlier this month, Meghan won a legal victory in a lawsuit against the publisher of the Mail on Sunday, when a British judge ruled the newspaper invaded her privacy by publishing part of a letter she wrote to her estranged father. News of their break with the palace comes as Harry’s grandfather, 99-year-old Prince Philip, is in a London hospital, where he was admitted on Tuesday after feeling unwell.

A spokesman for the couple hit back at suggestions that Meghan and Harry were not devoted to duty.

“As evidenced by their work over the past year, the Duke and Duchess of Sussex remain committed to their duty and service to the UK and around the world, and have offered their continued support to the organizations they have represented regardless of official role,” the spokesman said in a statement.

“We can all live a life of service. Service is universal.” n

c

GEMINI (May 21-June 20): Say what’s on your mind, and clear up any misunderstanding that may stand in your way. Take honesty seriously, and make a point to articulate facts as they are verified.

Knowledge is powerful and will lead to opportunity and new beginnings. HHHH

d

CANCER (June 21-July 22): Look for a unique way to use your knowledge and skills.

Being open to diverse alternatives to how you earn your living or handle your cash will lead to positive results. Be a leader, not a follower. HHH

e

LEO (July 23-Aug. 22): You’ll face decisions you aren’t ready to make. Refuse to let anyone pressure you into something prematurely.

Focus on meaningful relationships, keeping the peace and opting for love and affection over anger and discord. Protect your health and well-being. HHH

f

VIRGO (Aug. 23-Sept. 22): Consider what makes you happy, then head in that direction.

How you live, what you learn and the people you associate with will determine what you get out of life. Embrace people who stimulate your mind and encourage you to be unique. HHH

g

LIBRA (Sept. 23-Oct. 22): Address money matters before it’s too late. Look at the changes going on around you, and make adjustments that ensure security and stability. Be open about what you want and how you feel, and you’ll gain support.

Romance is favored. HHHH

h

SCORPIO (Oct. 23-Nov. 21): Evaluate what you are up against, be secretive regarding your intentions and use your intuition to make the most out of whatever comes your way. Making adjustments at home or to relationships may not sit well with others. Proceed with caution. HH

i

SAGITTARIUS (Nov. 22-Dec. 21): An unwanted change will turn out to be benevolent. Time heals all wounds, and a demonstrative approach to life will encourage you to come back better, stronger and with the finesse that will push you forward. Love is on the rise. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Take advantage of an opportunity that allows you to put your long-term plans in motion. Don’t worry about what others do or say; follow the path that leads to your happiness and peace of mind. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Don’t get angry; get moving. How you handle situations will determine what’s to follow. Be fair, direct and in pursuit of the truth, but refuse to let your emotions take over and lead to something you regret. Patience will help resolve issues. HHH

l

PISCES (Feb. 19-March 20): Zero in on what you want to accomplish, and direct your energy accordingly. What you achieve today can change the way you work and live moving forward.

Don’t let anger set in; action is required. HHHHH Birthday Baby: You are insightful, creative and sensitive.

You are friendly and generous.

‘bite encoding’ by jesse goldberg The Universal Crossword/Edited by David Steinberg

ACROSS 1 Agreement 7 When doubled, a Hawaiian fish 11 Hoover ___ (Colorado River structure) 14 Haitian religion involving sorcery 15 Hugh Laurie’s boys’ school 16 Former quarterback Manning 17 Waiting one’s turn 18 Rustic home 20 University official 21 Isn’t thorough when cleaning an ashtray?

23 Shortly, in poetry 24 They sometimes clash 25 Closed-down arena?

32 Chatty bird 33 When required 38 Word after “public” or “popular” 41 TV schedule slot 42 Takes revenge 44 Trap, as by a winter storm 45 Glowing alien of Jabba’s species?

48 Headliner 52 IRS experts 53 Where one might get a dog?

7 Was aware of 5 61 Conspiring (with) 62 Discomfort 64 Actress Seydoux or Thompson 65 Raise one’s voice 66 U-Haul truck, for one 67 Hosp. areas 68 Poetic tributes 69 Forgo cooking...or, read with spaces after the second and fourth letters, a theme hint DOWN 1 Fanatical 2 Certain ice cream holder 3 Carbonated drink 4 Thor’s father 5 Anchorman: The Legend of ___ Burgundy 6 “Crime ___ pay” 7 Philanthropist Gates 8 On the summit of 9 Big pigs 10 Machu Picchu builder 11 Eliminate glitches from 12 Samuel of the Supreme Court 13 After-dinner candies

9 Prez known for his top hat 1 22 RVer’s stopover 23 More pale 25 Pollution portmanteau 26 Overdone publicity 27 Army group 28 Prepares, like leather 29 “This ___ test” 30 Prefix with “verse” 31 Deserves 34 Scratch the surface?

35 “Mon ___!”

36 Issue forth 37 Bumper concern 39 Large reproductive cells 40 The Simpsons character who says “hi-diddly-ho” 43 Coins that cost more than seven cents each to make 46 Mimic 47 Inherent character 48 Welcoming expression 49 Piano technician 50 He has the world at his fingertips 51 GPS suggestion 54 Hellmann’s spread, informally

5 Like good Scotch 5 56 Regulation 57 Superman, aka Clark ___ 58 Defense org. since 1949 59 Birthright seller in Genesis 60 Mark from a paintball fight, say 63 Teachers’ org.

Solution to yesterday’s puzzle:

www.businessmirror.com.ph

Image BusinessMirror

Editor: Gerard S. Ramos

• Wednesday, February 24, 2021

B5

MakatiMed wins at the Anvil Awards for its Covid-19 Program

Working out at home I

HAVE not been to the gym for a year already.

And it shows. This morning, I had a hard time putting on my socks and my usual walk from the parking to the office has left me panting (a bit) and a bit lightheaded (or maybe it was the mask and shield). At any rate, as much as I would like to go to the gym, I am still anxious about the pandemic.

I bought a suspension weight training equipment and a pair of dumb bells but they have been left untouched and gathering dust somewhere in the house. I was reminded I bought them when I was cleaning house recently and looking for things to give away. It also made me think of re-starting a home workout routine I failed to consistently do a month after the lockdown. But with the way things are going with my waistline, a home workout seems to be the best option for the meantime.

Before starting any exercise routine, however, check in with your doctor to know which exercises are good for you and which ones to avoid. This is important even if you do not feel anything wrong.

Chances are, being home-based and having limited physical activity for the past year might have changed your health. Go see your doctor before doing any strenuous exercise. Your doctor might even recommend an exercise routine that best suits your current health status.

Starting a home workout is fairly easy. The key is consistency and the will power to push through, which is always easier said than done. But when I

think about it, a home workout is better than going to a gym. You are in the privacy of your own house and you can pace yourself and what you can do. You can even teleconsult with a physical fitness professional on what exercises work best for you and they can even monitor your form while you are doing the routine.

This way, you do not need to go out unnecessarily where the chances of getting infected with the virus is high.

You will also have the flexibility in what you want to do—music you want to play, what you want to wear, even choose the equipment you want to use. No more waiting for an equipment to be available when you want to use it, and you do not need to wipe down used ones or even be surprised with funny smells from the equipment. Doing your workout at home will ensure you get to do your workouts your way.

One of the obvious advantages of home workouts is the savings you get from not having to pay a regular gym membership. This goes a long way when you consider how much you spend in a year for gym membership and sometimes burdensome lock-in periods. Not to mention the expenses in going to and from the gym which, when added up, can actually also be a significant amount.

There are several exercises which do not require any equipment—like lunges, squats, push-ups and planking, to name a few. Just make sure you are doing the proper form to maximize the effects of the exercise and avoid injury. You can either ask a family member to check your posture, or you can use a mirror. Using body weight can help you strengthen your muscles and develop balance and flexibility. But if you want to workout and have fun at the same time, you can try dancing with family members and just let the beat make you move however you want. Nobody is looking anyway.

Investing in exercise equipment is also costeffective in the long run because you can always choose machines that fit your space and suit your needs. You can use free weights like dumb bells, resistance bands, and multifunctional exercise

machine. Of course, it will become financially difficult if you constantly want to upgrade your equipment, so plan carefully what exercise machine you will buy.

Doing home workouts also helps you save time— time going to and from the gym. When going to the gym, you need to prepare your bag and plan what you will wear after working out and the things you will need during workout. You also have to take shower and fix your things before going home and even spend some time doing small talk with other people. All of these things take time and, when added up, are also significant. Not to mention the added time in traffic and unexpected delays.

Another added benefit of doing home workouts is being able to fit your workout to your schedule. You do not need to file for a schedule in your gym and adjust to their schedule. You get to exercise when you can.

You can even do your exercise in between breaks.

I came across a kinesthetic classroom where students have noiseless pedals attached to the footrest of their desks. They can then pedal silently while listening to the teacher. You can do the same if you have a stationary bike or free weights, especially during listening in sessions. You can also do your routine in between meetings or even block off a time where you can do your exercise without anybody interrupting.

One thing that you need to consider in home workouts is the need for variety and the need to change the routines to maintain and prolong interest in the exercises. If something is done repetitively, it has the tendency to become boring. You can try other exercise routines like yoga, Pilates, or any other workout that interests you. This will ensure you get to enjoy your workout and prevent monotony.

Doing home workouts is a great way to save time and money and at the same time ensure that you are safe, and you have the freedom to do the exercises you want in the privacy and security of your own home. I have yet to start my home workout routine. But I am pretty sure the suspension weight training equipment and the pair of dumb bells I saw the other week will be put to good use. n

Covid’s foggy glasses spawn Lasik surgery revival

By Bailey Lipschultz Bloomberg News Lasik eye surgery is making a comeback. After months of face masks fogging up their glasses and contacts drying out from all the extra Zoom meetings while working from home, people are fed up and are boosting demand for the corrective surgery that had waned in popularity over the past decade.

During the Covid-19 pandemic, consumers have cut back on activities, like overseas travel and entertainment, and for many that has left a big pot of cash to be spent elsewhere. A lot of that has been poured into home improvement and buying cars. And now consumers are shifting to upgrading themselves with procedures like Lasik and its starting price tag of about $4,500.

In Los Angeles, Dr. Neda Shamie, an opthalmic surgeon, has seen a 30-percent jump in Lasik procedures at her practice, the Maloney Shamie Vision Institute. It’s being driven by younger adults, with the average age of a patient falling to 34 years old, a seven-year drop from the early 2000s, she said. Her group did an informal survey of other big

eye-care practices around the country, and they reported similar gains. “People have budgets set aside for travel and are converting their travel budget into self-improvement,” Shamie said. And our patients are “telling us the glasses-mask conundrum is real.”

More than 30 Lasik systems have been approved since Laser Sight Technologies Inc.’s Kremer Excimer Laser System won US approval for the surgery in 1998. After an initial boom in the early 2000’s, Lasik’s growth slowed as the Great Recession reduced disposable income and the Food and Drug Administration warned of dodgy advertising practices.

Online searches in the US for the procedure peaked in 2004 and had bottomed out earlier this year before spiking when the pandemic hit, according to Google Trends.

The industry is now forecast to hit $4.1 billion in sales by 2027, more than doubling 2018’s total, according to consulting firm Coherent Market Insights. Lasik’s revival is part of an industry-wide boom in elective procedures during the pandemic.

Quarantines and social-distancing caused weight gain and more self-consciousness with all the time on

video chats. That’s led to spikes in Botox injections, breast implants and repairing droopy eyelids for the group of Americans who haven’t suffered financially during the Covid-triggered recession.

Lasik, which uses lasers to reshape the front of the eye and often improves vision to better than 20/20, has an advantage over other procedures because it has a minimal recovery period.

Following a brief consultation, a patient could have surgery the same day and better vision within a few hours, Dr. Shamie said. After a post-surgery nap to let the eyes rest and heal, the patient can return to their regular routine and work the next day, she said.

Like many Americans during the pandemic, Dana Johnson, who had worn glasses since she was sixyears-old, had extra cash on hand as plans for travel and entertainment options evaporated.

“Due to not being able to eat out or vacation, I had what I felt like was a good amount of money saved to put down,” the 25-year-old nurse in Nashville, Tennessee, said in an interview. She had the procedure in late September. “Cost-wise, I will never have to pay for contacts or eye exams again, so in five to 10 years I’ll have it paid for.’’

Makati Medical Center (MakatiMed) recently won a Silver Anvil at the 2020 Anvil Awards for its intensive and multi-platform Public Health Information Program on Covid-19. The program, recognized under the Covid-related PR programs with tools special category, was successfully rolled out in 2020 at the onset of the pandemic to disseminate accurate and relevant information.

With the top Philippine hospital being among those at the forefront of the health crisis, MakatiMed’s Creative, Communications and Sales Services Division led the information and awareness drive to educate its hospital staff, patients and the general public on the nature of the virus, its symptoms, and the ways in which infection can be prevented. Patients and the public were consistently kept abreast with regulatory guidelines and patient pathways via the hospital’s social-media platforms.

The communications also strongly emphasized the importance of adhering to the recommended measures aligned with the World Health Organization, Centers for Disease Control and Prevention, and Department of Health.

MakatiMed President and CEO Atty. Pilar Nenuca Almira and MakatiMed Medical Director Dr. Saturnino Javier both underlined that communication in times of crisis is essential in mitigating the impact of a pandemic, as misinformation and fake news drive risks and tensions higher. The hospital has been a constant source of reliable information on Covid-19 to help guide the public and assuage fear and confusion.

The Anvil Awards, presented by the Public Relations Society of the Philippines, is considered as the top awards program for public relations in the country, honoring the most outstanding PR Programs and Tools annually.

Shereen Sy with WTA Architecture and Design Studio’s Architect William Ti Jr. during The Book Nook launch

THE Book Nook design focuses on the opportunities of social interaction.

The oval-shaped bench features a layout for each child or adult to see and interact with each other.

New community library launched Book lovers now have their own special place where they can discover, read and share stories at SM Aura Premier (www.sm-aura.com).

The Book Nook at the mall’s fourth level is a free library, built with the intention of creating a community that believes in the value of sharing and the love of reading. It is in partnership with WTA Architecture & Design Studio, National Book Store, Anvil Publishing, UV Care, and Samsung together with SM Cares and The SM Store.

Visitors at The Book Nook can explore the world of imagination by simply selecting a book from a library that has the capacity to hold more than 1,000 written treasures and diving right in with designated reading benches. Should the reader fall in love with the book, there is no need to part with it. A number of books are free to take home. All that is asked in return is the reader pay it forward as well by donating a book of their own.

Readers can also share their favorite stories with someone else by leaving a note in their pre-loved treasure. More than that, SM Aura Premier will be hosting activities such as storytelling sessions, book launches, and meet-and-greet sessions with authors that will be presented both online and off.

Technology will assist in addressing concerns over safety in the current pandemic situation. These include contact-less systems like contact-tracing via the SM Supermalls QR code-based system Trace Together, and with a QR code-based registration system for logging books that are donated and taken from the library. A UV light box helps ensure that all books borrowed and donated are safe to be handled by the next book lover.

While books and libraries may not be the latest thing society has seen, The Book Nook and SM Aura Premier’s dedication to its purpose of nurturing a sense of community is certainly novel.

B6 Wednesday, February 24, 2021

Meralco wins top citations at 56th Anvil Awards

Government, private sector launch Pilipinas Kontra Gutom

P

ILIPINAS Kontra Gutom (PKG), a national, multi-sectoral antihunger movement that was formally launched on Monday by government and private sector partners that will work together on various programs with a common goal: one million fewer hungry Filipinos by 2022.

With the support of private sector, non-government organizations, and civil society groups, and spearheaded by the government’s Task Force Zero Hunger (TFZH) chaired by Cabinet Secretary Karlo Nograles, PKG is adopting a whole-of-nation approach to achieve its immediate and longterm goals of addressing involuntary hunger and malnutrition in the Philippines—an urgent concern given the millions of families that grapple with hunger in the country.

“Hunger is a silent enemy that can no longer be ignored; maraming apektado, at maraming kailangan tulungan. In our campaign against hunger, we should be all in, all out— anyone who can pitch in should help, and those who can help should go all out,” Nograles said.

Government partners include the various departments of Agriculture, Social Welfare and Development, Education, Environment and Natural Resources, National Nutrition Council, Interior and Local Government, Trade and Industry, Science and Technology Food and Nutrition Research Institute (DOST-FNRI), the Presidential Communications Operations Office, the National Economic and Development Authority, Budget and Management, Labor and Employment, Health, PCOO Bureau of Communication Services, and Agrarian Reform.

Since being organized in November last year, PKG has grown into a movement that involves around 70 partners from private companies, nonprofit groups and various organizations.

The private companies include Aboitiz, AXA, Bayer, Bank of the Philippine Islands, Cargill, Century Pacific Food, Inc., Coca-Cola, East West Seed, Dole Philippines, Harbest, JG Summit Holdings Inc., Johnson & Johnson Philippines, Jollibee Foods Corporation, Kraft Heinz, McDonald’s Philippines, Mega Global

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On February 22, the Pilipinas Kontra Gutom movement shared plans on how the different members of the private sector and the government intend to collaborate to uplift 1 Million Filipinos from hunger by 2022, and eventually, to reach zero hunger in the country. Seen in the photo are the different leads from around 70 organizations, companies, and groups that have come together to beat hunger.

Corp. Metrobank, Mondelez, Nestlé Philippines, NutriAsia, Pilmico Foods Corporation, RFM Corporation, San Miguel Corporation, SM Supermalls, Unilever Philippines, Universal Robina Corporation (URC), Unilab, and Vitarich.

Organizations and industry associations include: AGREA, Go Negosyo, League of Corporation Foundations, Philippine Business for Social Progress (PBSP), Philippine Disaster Resilience Foundation (PDRF), Philippine Partnership for Sustainable Agriculture (PPSA), Scaling Up Nutrition, Supply Chain Management Association of the Philippines (SCMAP), and UN Global Compact.

Non-government organizations and foundations that have also joined are ABSCBN Lingkod Kapamilya Foundation, Aboitiz Foundation, Ayala Foundation, Caritas, Gawad Kalinga, GMA Kapuso Foundation, Jollibee Group Foundation, Kabisig ng Kalahi, Manila Water Foundation, Metrobank Foundation, Pilipinas Shell Foundation, Project PEARLS, Rise Against Hunger Philippines, and Ronald McDonald House Charities.

Battling hunger, one project at a time PKG plans to focus on key result areas of concern in order to organize sustainable initiatives for targeted beneficiaries that will address challenges with regard to food availability and accessibility, adequate nutrition, and crises assistance.

Initial projects include the following:

Farmer assistance. With the end in view of elevating farming as a dignified and sustainable profession, these projects aims to increase farmer income by as much as 20% within the year, and to double farmer productivity by 2025 via the expansion of value chain projects and logistics improvements.

Sustainable nutrition programs.

Projects that will collectively work to achieve zero undernourished Filipino children across all households by 2030 via a strategy that involves campaigns to promote proper breastfeeding, to address malnutrition, and to roll out nutritious meals for Filipino households.

Disaster response. Private sector companies will work to revolutionize their disaster response in close partnership and coordination with the attached national agencies and local government units in order to streamline the private sector’s efforts to facilitate a prepared, synchronized, and targeted action flow for food security when crises strike.

Food banking. This effort involves the initiation of food surplus assessments among food manufacturers, restaurants, supermarkets, and public markets in Metro Manila, with the food surplus from donors eventually allocated for distribution to those in need.

PKG is set to launch a public information campaign, the details of which will be accessible at pilipinaskontragutom.com.

Farmer earns more than P300K in 3 months from Cagdianao Mining’s greening program

BERNIE C. Fruta earns more than P300K by simply growing seedlings for CMC. He’s shown here in his nursery with Jean M. Litang, Community Development Coordinator of CMC’s Community Relations Department

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N 2019, the year before the pandemic hit hard on the communities, Cagdianao Mining Corp. (CMC), a subsidiary of Nickel Asia Corp. (NAC), initiated a seedling production program that continues to benefit residents in the Dinagat Islands financially and proves that there is money in ‘greening’ and in environment protection activities.

To date, CMC’s “ECOmmunity Program” has already paid up some P4.4M to participants of this livelihood program from the mining company’s 5 host barangays – Boa, Cuarinta, Diegas, Legaspi and Valencia – who produced more than 1 Million seedlings and planting materials that CMC uses for its various mine rehabilitation and

greening programs.

One of the participants is 38 year old Bernie C. Fruta from barangay Diegas, who received P326,340.00 for producing 37,000 seedlings, mostly fruit trees and native shrubs, which he and his sub-contractor, Diosdado Duhiling, 48, grew in their own nursery over a period of 3 months.

“Pampagawa po ng bahay and other expenses, we feel blessed because of CMC’s ECOcommunity,” Bernie Fruta said of his earnings.

CMC initiated the “ECOmmunity Program” to directly engage community stakeholders in the company’s rehabilitation and reforestation commitments. Fruta and Duhilig are only two among the ‘71

contractors and 124 sub-contractors.’

The program also aims to uplift the lives of beneficiaries through contracted seedling production, raising awareness about the environment, its protection and conservation.

“We are reaching out to the communities for this program where residents operate their own seedling nurseries from where they grow planting materials that they will provide for our reforestation and rehabilitation needs, we buy each seedling for P9 pesos each and the residents can grow thousands of them in a few months,” says Engr. Arnilo C. Milaor, CMC’s Resident Mine Manager.

Nathalie G. Radaza, CMC’s Community Output-Based Program Coordinator, testifies that many “ECOmmunity” participants have not had the chance before to hold in their hands such huge amounts of money.

Radaza, who recently graduated in 2018 with a degree in Environmental Science from CARAGA State University, is proud to have joined CMC right after graduation to be a part of the company’s environmental protection and reforestation initiatives which she considers a dream come true.

The CMC mine site is located in the municipality of Cagdianao, at the Northeastern side of the province of Dinagat Islands. Its area of operations is within the Surigao Mineral Reservation.

HE Manila Electric Company (Meralco) and its corporate social responsibility arm, One Meralco Foundation (OMF), bagged eight Silver awards at the recently concluded 56th Anvil Awards.

The Anvil Awards, dubbed as “the Oscars” of Philippine public relations, recognizes outstanding external and internal programs, campaigns, and tools that exemplify the highest standards of PR practice in the country. This year, the Gabi ng Parangal of the Anvil Awards was held via livestream due to the pandemic.

At the awarding ceremony, Meralco received a nomination for the Company of the Year award as its flagship program, Meralco Advisory, wins for the 6th time since 2013. Meralco Advisory has been one of the company’s long-running communication programs, and has effectively provided its customers technical information presented in a simplified and creative manner which a lay person can easily understand.

This year, a new category was included to recognize the programs and tools related to COVID-19. Meralco, for its part, received

a Silver Anvil for Keeping the Lights On in the Time of Pandemic, a communication management program on keeping its employees safe and well informed of matters related to the COVID-19 pandemic.

Meralco was also recognized for Meralco Goes Green Internal Communications, a campaign launched in 2019 to empower its employees to do their part in living sustainably through various programs and initiatives.

The other awards received were for the following programs: Meralco Digital Press Conferences: Keeping Close with Media and Public Despite Social Distancing, Share A Leave/A Day To Give, From Farmer to Fronliners, No school left in the darkSchool Electrification Program energizes the farthest schools in the country, and Household Electrification Program.

The awards that Meralco received are testament to its commitment to provide purpose-driven and impactful initiatives that promote sustainability and social good amid a crisis.

Asian Cultural Council pursues pro-artists advocacy, sets benefit art auction on February 27 at Leon Gallery

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HE Asian Cultural Council pursues its mission to support artists by facilitating opportunities for creative advancement and mutual cultural understanding. Since the global pandemic began, ACC New York and its affiliate offices in Hong Kong, Japan, Taiwan and the Philippines, have gradually adapted nearly 70 percent of its grants program to hybrid or completely online versions. ACC upholads the importance of art and the impact of cultural exchange as it strategize innovative ways and virtual platforms in response to the current global situation.

The ACC Philippines, for its part, continues to work on its commitment to ensure more grants for Filipino artists

through the Philippine Fellowship Program. The annual Asian Cultural Council Auction held in cooperation with the trustees of the ACC Philippines Foundation, Inc. chaired by Ernest Escaler in collaboration with Jaime Ponce de Leon and Team Leon Gallery has been a significant undertaking that seeks support from donors, collectors, and likeminded patrons in the arts. Proceeds from the benefit event help fund the program that enabled transformative avenues for creative growth and international cultural exchange to over 500 local artists to date. Art scholars and professionals from across all fields have also added to the list of ACC alumni and fellows. Some of whom have become icons and important names in our nation’s cultural heritage led by National Artists Jose Joya, Lucresia Kasilag, Jose Maceda, Alice Reyes, Ramon Santos, and Kidlat Tahimik, to name a few.

This year’s ACC Auction promises to be a momentous edition with the lineup of exquisite masterpieces bannered

by Anita Magsaysay-Ho’s “Tinapa Vendors,” Vicente Manansala’s “Pila sa Bigas,” and stunning works by Cesar Legaspi, H.R. Ocampo, Manuel Ocampo, Lee Aguinaldo, Lao Lianben and the exceptional Jose John Santos III. Other pieces on spotlight are by ACC grantees-- stalwarts Jose Joya and Roberto Chabet, and young outstanding artists Dex Fernandez, Winner Jumalon, Nona Garcia, and Don Salubayba.

The Asian Cultural Council Auction is set on Saturday, February 27, 2021 at Leon Gallery, G/F Eurovilla 1 Rufino corner Legazpi Streets, Legazpi Village, Makati City. Auction starts promptly at 2:00PM. For more event details, visit www.leon-gallery.com. To know more about ACC and its grant programs visit www.asianculturalcouncil.org

Global BPO appoints Pamela Donato as vice president for human resources

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ETERAN HR executive and BPO professional Pamela Donato was recently appointed Vice President for Human Resources for Sitel PHANZ (the Philippines, and Australia & New Zealand).

Donato brings with her over 20 years of HR experience.

She has led the HR and organizational development of top financial and business process outsourcing companies in the Philippines. The breadth and depth of her experience have provided her with a wide perspective and insight into HR best practices, policymaking, stakeholder management and strategy development and execution.

Donato was the Regional HR Lead for a leading BPO covering the Philippines and Malaysia. She is also currently an officer of the HR Council of the Contact Center Association of the Philippines (CCAP).

“I’m thrilled to be joining the Sitel Group. The company is doing incredible things and there is still tremendous potential. I look forward to being an empowering leader and working with the amazing teams in the Philippines to further develop our end-toend HR initiatives and implement strategies focused on employee engagement, training and development and inclusion and diversity,” Donato shared.

In her previous leadership roles, Donato put a keen focus on her advocacies of education, inclusion and corporate social responsibility. She looks forward to further

PAMELA Donato - VP HR PH-ANZ Sitel developing these robust and expanding areas in the global BPO while enriching the people-focused company culture.

“We’re very excited to welcome Pam to our team,” said Ravi Iyengar, Chief Operating Officer, Sitel PHANZ. “She has an extensive background in growth-driven strategic HR best practices. Working closely with our Philippines leaders, she will undoubtedly help grow and expand our people-centric HR programs in 2021 and beyond.”

BusinessMirror

Editor: Tet Andolong

Wednesday, February 24, 2021 B7

Savya Financial Center the future star in the South

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By Rizal Raoul S. Reyes

EADING green and sustainable property developer Arthaland recently held an on-time topping off of the Savya Financial Center North Tower in ARCA South, which is being positioned as a next-generation 24/7 global business address offering excellent amenities, a fully integrated retail area, zero contact building features and huge green and open spaces.

The two-tower sustainable office development was launched in 2019 and its first building, the North Tower was built in partnership with Japanese major real-estate developer Mitsubishi Estate.

Masato Aikawa, managing director of Mitsubishi Estate Asia, expressed confidence that the Savya Financial Center will attract locators particularly multinational companies as it offers, innovative technology, sustainability, and wellness features that have been incorporated in the building’s design. “From the very beginning, we have been aligned with Heartland’s corporate vision to create high quality and sustainable buildings for our next generation.

Through this strong partnership, the Savya Financial Center became our company’s first venture in the

Philippines. The success of this development will certainly become the foundation for our long-term partnership with Arthaland ,” said Aikawa in a press statement.

Moreover, Arthaland and Mitsubishi Estate are introducing key technologies that will include remote virtual concierge and semi autonomous security surveillance robots that promote a safer, contactless office environment. By offering sustainable and wellness features, Arthaland and Mitsubishi Estate, future occupants will also benefit from the healthier workplace ecosystem, higher work force efficiency, and substantial savings in energy costs, making it an ideal location for both multinational and local companies to transfer or consolidate.

Aside from making good its commitment to all stakeholders

Savya Financial Center will be a multi-certified green office condominium (Artist’s Perspective)

A landscaped Sky Deck offers building occupant fantastic views and offers native and endemic vegetation. (Artist’s Perspective)

A fully integrated retail area will be located at the ground and second floor (Artist’s Perspective)

to top-off the North Tower of Savya Financial Center on schedule, Arthaland Vice Chairman and President Jaime C. Gonzalez said the company is standing on the success of its world-renowned and multi-awarded Arthaland Century Pacific Tower in Bonifacio Global City and the Cebu Exchange in Cebu City to be replicated in Savya Financial Center to become the preferred address in what will be

the most highly connected business district in the country.

Furthemore, Gonzalez said ARCA South is a highly connected and synchronized growth center that offers a seamless working environment as it connects tenants and locators to several host services in the area through its connective infrastructure, strategic master plan, and its very own intermodal transport system.

Modest rebound seen for real-estate market in PHL

By Roderick L. Abad

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HOUGH still confronted by the coronavirus disease 2019 (Covid-19) pandemic, the Philippines’s real-estate industry is expected to slightly recover this year as demand begins to improve in key sectors, such as industrial & logistics, office, and residential, according to Santos Knight Frank (SKF).

“2020 was a challenging year for Philippine real estate and the global property market, but we see the new year as a promising time for realestate sectors such as industrial & logistics, office, residential, REITs, and data centers, among others,” SKF Chairman and Chief Executive Officer (CEO) Rick Santos told reporters during their recent webinar. “In general, we expect to see a soft rebound in the real-estate market as the economy gradually recovers.”

He noted that macrotrends like the ecommerce growth, flexible office setups, and constant decentralization outside Metro Manila will continue this year and help the property sector to bounce back again from the ensuing health crisis.

The top executive added that the local market’s demographics remain pivotal in driving the real-estate industry’s long-term performance. He said: “The country’s growing population will drive consumption, online retail, and the industrial & logistics sector, while its young pool of talent will help retain the Philippines’s place in the global BPO industry as outsourcing increases overall.”

Office

COMPARED to 2020, the office segment is generally seen better this year. SKF, however, emphasized that it’s impossible that it will immediately go back to its same level before Covid-19 hit globally, including the Philippines, early last year.

Citing their Real Estate Outlook 2021 report, SKF Senior Director for Occupier Services and Commercial Agency Morgan McGilvray bared that the office vacancy rate in Metro Manila has increased to 9.8 percent in 2020 from the historical levels between nearly 2 percent to around 5 percent since 2011, while asking lease rates have grown by only 1.7 percent a year ago.

This could be attributed to the rise of the so-called work from home setup adopted by occupiers due to national government’s imposition of community quarantines that led to the restriction or closure of most industries and businesses at the height of the pandemic.

As the economy has reopened, however, the office sector may see a gradual return by tenants to the physical workplace this year.

While local firms will be hit the hardest as some of them are likely to downsize, SKF expects multinational occupiers, especially businessprocess outsourcing (BPO) companies, to resume looking for new locations to expand and meet their office rightsizing requirements.

“BPO is a dominant player,” McGilvray said. “[It’s] net leasing growth in cities outside Metro Manila is estimated at 20,000 sq m to 40,000 sq m.”

For this year, per the SKF study, the outlook is generally moderate but with a few bight spots.

It is estimated that about 1.2 million sq m of office space will add to the Metro’s 2021 inventory.

Vacancy rates are projected to go up as supply will exceed demand. What’s more, rental fees will flatten out.

With high vacancy and modest asking lease rates, the availability of a bigger amount of fitted space and prime office space, which were once difficult to secure, is seen as an opportunity for companies aiming for better locations, said Santos.

Residential

SLOW but steady rebound is the general prospect ahead of the real-estate sector this year, according to SKF Associate Director and Head for Residential Services Kim Sanchez.

With the sector leaning in favor of the homeseekers, she said that more opportunities are waiting for residential buyers, such as “better deals in terms of price and payment terms.”

Sanchez cited, for instance, that developers and landlords offer flexible payment schemes to spur demand. In terms of financing, she added that more competitive interest rates from the banks will also encourage homebuying from the market.

For Santos, demand will keep on expanding in some low-density areas outside the metropolis, driven by the high-end market preferring to live in wide, open and green spaces.

“Beach homes, vacation homes in specific

areas continue to attract the high-net worth market,” he pointed out.

“There will likely be an increase of listings in the resale market,” Sanchez added.

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their favorite Estancia and Gastro restaurants at the Park. The estate’s initiative aims to revitalize its open spaces of lush greenery where guests can continue to enjoy the signature well-balanced live-work-play lifestyle of the estate.

As guests want to enjoy the ambience without fear, QR codes are made available on each table, which leads guests into a digital menu of each restaurant. Contact details of the restaurant are also provided so

customers can easily reach them for a more convenient and seamless ordering experience.

Once orders are placed, the chosen restaurants will deliver the food orders straight to the customers at their respective tables at the park. As digital transactions provide consumers with the safest and easiest way to pay this time of pandemic, cashless payments may be used at the Capitol Commons Park.

Park-goers will also be reminded

Home

Spanish start-up expanding laundry hub in the Philippines

Industrial & logistics

THE retail industry’s loss due to the pandemic is the industrial and logistics sector’s gain. This holds true as the latter was the most stable asset class last year.

Demand in this space, per SKF Director for Investment and Capital Markets Kash Salvador, was bolstered by e-commerce activities.

Citing the Global Web research, he revealed that Metro Manila accounted for 38 percent of e-commerce activities last year, followed

by Cavite and Laguna at 9 percent, Cebu at 6 percent, Pampanga and Bulacan at 6 percent, Davao at 3 percent, Rizal at 3 percent, Iloilo at 2 percent, and Batangas at 2 percent.

Bullish prospects continue for the online retail in the country as it is expected to grow by 26 percent this year, according to him.

Apart from e-commerce, the rise of the industrial and logistics sector could be ascribed to previous commercial and retail spaces that have been repurposed and converted to storage and warehousing facilities, noted Santos.

“Cold storage facilities, warehouses, and distribution centers will be in demand this year, especially with the rollout of the vaccine and growth of e-commerce,” said the chairman and CEO of SKF. “Data centers present a long-term opportunity for the sector.”

Park-goers at Capitol Commons are in for relaxing nights of serenade and al fresco dining REMIER property developer Ortigas Land enhances dining experience for estate goers at the Capitol Commons Park with an al fresco dining setup starting on February 19, 2021 and live serenades from 5 p.m. to 9 p.m. on Fridays, Saturdays, and Sundays.

With safety and health protocols set in place, Capitol Commons ensures that park-goers are treated to a stress-free and relaxing experience as they enjoy delicious meals from

Savya Financial Center will be accessible to Metro Manila, the new transportation networks such as the Southeast Metro Manila Expressway, Metro Manila Skyway, Metro Manila Subway, and the Taguig Integrated Terminal Exchange. It also lies near various warehousing facilities in the nearby Food Termina Inc. (FTI), the Ninoy Aquino International Airport (Naia), and major commer-

cial business districts like Makati City, Bonifacio Global City and Ortigas Center.

A r tha land w il l prov ide its tenants convenient shuttle services that will further provide a seamless, hassle-free commute experience to and from several key pick-up and drop-off points across the Greater Metro Manila area. Through its leading-edge sustainable features, Savya Financial Center is soon to become a multicertified green building. It has been ore-certified for Leadership in Energy and Environmental Design (LEED) Gold Certification and on-track for the Philippine Green Building Council’s BERDE Certification, International WELL Building Institute’s WELL Building Standard, and the International Finance Corporation’s Excellence in Design for Greater Efficiencies (EDGE) certification.

The North Tower is scheduled for completion in November 2021.

of the enchanting experience of live music as local buskers add to the outdoor ambiance at the Capitol Commons Park. These sessions of Serenade at the Park will happen from 5 p.m. to 9 p.m. on Fridays, Saturdays, and Sundays; while al fresco dining starts on February 19, 2021.

Located along Meralco Ave. corner Shaw Blvd. Ortigas Center in Pasig City, Capitol Commons brings life to its open spaces with new activities for guests’ relaxation and leisure.

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HY Jeff? Because at Jeff you will find innovation. Spanish start-up, Jeff, has already started to make its mark in the Philippines, with its first footprint through a convenient home laundry and dry-cleaning app and delivery service that has helped keep Filipinos safe at home instead of heading for a laundromat. By using the app, customers can choose the exact location, time, and day of pick up; a driver proceeds to get the items and delivers them, cleaned and folded or ironed, in just 48 hours.

Since the pandemic last year, Jeff in the Philippines performed better than what was expected.

The percentage of online orders was around 65-70 of the total, with franchisees strengthening their numbers and metrics since pre-Covid.

Worldwide during the pandemic in 2020, Jeff opened at least 185 Mr. Jeff laundry hubs showing the company’s and the franchisees’ commitment to the business. As of 2020, Jeff has sold 80 Mr Jeff laundry franchises in the Philippines, with its laundry hubs operating in Metro Manila and in Sta. Rosa, Laguna.

The young and dynamic Jeff Spanish cofounders Eloi Gómez, Adrián Lorenzo and Rubén Muñoz have stated that they are planning to open 30 franchises in 2021, not only in the Metro Manila area, but also in other cities like Cebu, Cagayan de Oro, and Angeles City in Pampanga.

On top of this, they are looking for Filipinos with an entrepreneurial mindset who can partner with them in their successful Jeff laundry venture, along with future launches. Specifications for a laundry hub include a store space of 40 sq m to 60 sq m, with about 4 sets of washer/ dryers, with a laundry specialist and dedicated

driver upon opening that has a possibility for employee expansion later on. Other equipment needed are a computer using Jeff Technology to keep track of orders, and special laundry equipment to suit services for ironing, dry cleaning, and home item cleaning.

An adviser will get in touch with prospective franchisees, who do not require prior business experience. What is always necessary is that they have a good attitude and commitment to working for the business. “We are searching for people who want to be involved in this industry, working in the store or supervising operations. Jeff is open to individual entrepreneurs as well as to big investors who are interested to manage 10 or more franchises,” said Jeff CEO and Cofounder, Eloi Gómez. The initial capital is pegged at $25,000 to $50,000.

With many gaps still needing to be filled especially in the delivery of home services in the Philippines, Jeff will expand its super-app capability with the introduction of Fit Jeff and Beauty Jeff where customers can book beauty and fitness services before going to the stores to save time and minimize risks. These concepts have already been taken up by some Filipino franchisees, and the expected first openings in South East Asia will be in the Philippines, specifically in Metro Manila during the first quarter of 2021.

“Our brand was launched in the Philippines first before other Asian countries. We will continue to grow our business here because we believe in the strong entrepreneurial work ethics of our franchisees,” Gómez said.

For more information visit: https://franchise. wearejeff.com/.

Sports BusinessMirror

B8

| Wednesday, February 24, 2021

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Eala jumps 179 places in WTA world rankings

SUBIC READY FOR VOLLEY BUBBLE TILT

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ENNIS prodigy and Globe Ambassador Alex Eala climbed to No. 763 in the latest world rankings released by the Women’s Tennis Association (WTA).

Eala’s quarterfinals finish in her last three tournaments allowed her to jump 179 places from her previous ranking of 942nd.

The 15-year-old Eala is also ranked No. 3 in the International Tennis Federation (ITF) junior rankings.

Eala won her professional singles debut at the expense of Spain’s Yvonne Cavalle-Reimers in the first leg of the Rafael Nadal Academy International Tennis Federation (ITF) World Tennis Tour in Mallorca, Spain, last month.

She followed her historic win with quarterfinals finishes in the second and third legs of the Manacor W15 tournaments before flying to Grenoble, France.

Eala, a Globe Ambassador since 2013, stood toe to toe against older and higher-ranked opponents in Mallorca, posting several upsets against No. 2 seed Mirjam Bjorlund of Sweden, Alba Carrillo Marin of Spain, Ana Antigua De La Nunez and Silvia Ambrosio to reach the quarterfinals in last two legs of the Manacor tour.

In Grenoble, Eala went deep in the W25 tournament beating Laura IonaPaar and seventh seed Cristina Bucsa before bowing to Maja Chwalinska of Poland in the battle for a spot in the semifinals.

SUBIC Bay Metropolitan Authority Chairman and Administrator Wilma Eisma says the early birds are now practicing at Subic’s sand courts. HENRY EMPEñO

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By Henry Empeño

UBIC Bay Freeport—Workers sifted sand at the beach volleyball courts here on Tuesday as the Subic Bay Freeport prepared to host the country’s first volleyball tournament to be held during the Covid-19 pandemic.

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma Eisma said the 2021 Gatorade-PSL Beach Volleyball Challenge Cup organized by the Philippine Super Liga (PSL) will be held from this Friday to Sunday after the InterAgency Task Force for the Management of Emerging Infectious Diseases (IATF) approved the event under strict health guidelines.

The IATF through Resolution No. 79 issued on October 15, 2020, allowed the PSL tournament subject to strict observance of, among others, health and safety protocols finalized with the SBMA, the local Regional Task Force Covid-19 and the local Department of Health Center for Health Development.

“Because of this, there will be no spectators to be allowed at the tournament area, and only players and organizers and technical crew will be out there.

But the games will be livestreamed on television and online channels,” Eisma said on Tuesday.

“It’s the second-best thing next to a [playoff]

with live audience, and I believe the excitement and intensity of the games won’t be diminished a bit by the restriction,” she added.

Under the sports bubble concept, all participants in the tournament, as well as the organizers and technical crew, will be housed in dedicated accommodation facilities and monitored by health and safety personnel, Eisma said.

“They will have no interaction with the public,” she said.

Eisma said the PSL tournament will just be the first in a series of tourism-related events being prepared for implementation in Subic under the bubble setup.

“We are also eyeing basketball events, beauty

pageants and conferences, which would be possible here because of facilities that allow social distancing, the availability of quarantine hotels where event participants can be housed in isolation, and strict adherence by stakeholders to health and safety protocols,” she said.

PSL Chairman Philip Ella Juico also told the online Philippine Sportswriters Association Forum on Tuesday that everything is set for the tournament.

“Everything is in order. There are certain

kinks to be ironed out, but the event is pushing through and the teams are ready,” Juico told the weekly session presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp..

Two Abanse Negrense teams already arrived in Subic, while the rest of the field that include guest team Kennedy Solar EnergyPetroGazz, Sta. Lucia (two teams), F2 Logistics, United Auctioneers Inc., and Toby Sports are getting on board on Wednesday.

Phoenix adds ‘muscle’ to replace ‘beast’

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By Josef Ramos

HOENIX Super LPG didn’t wait long to fill the void left by Calvin “The Beast” Abueva as the Fuel Masters acquired Vic “The Muscleman” Manuel in a trade with Alaska on Tuesday that involved stocky guard Brian Heruela—plus draft picks of both teams.

But Manuel told BusinessMirror filling Abueva’s shoes is too big a task.

“I just can’t say that I can fill up Calvin’s position and provide what he can deliver because he plays differently,” said the 33-yearold Manuel, who averaged 15.9 points, 6.0 rebounds and 3.1 assists in 11 games in the Philippine Basketball Association Philippine Cup last year at the Clark bubble.

Phoenix traded the explosive Abueva, who plays the 3 and 4 positions, to Magnolia

for Chris Banchero. The trade also involved exchange of picks in the March 14 Rookie Draft.

“I can play the No. 3 and 4 positions, but Calvin’s level is different. But I can provide them the experience and the leadership,” added Manuel, who finally got his wish from the Alaska management to be traded.

Phoenix management, however, thought otherwise.

“I think for us, he [Manuel] can do it. We got the pieces that we were really after—a point guard [Banchero] and a post threat that will open our shooters,” team manager Paolo Bugia said. “We want to form a competitive team every conference and we’re really happy to acquire him.”

The PBA approved the trade the same day the teams submitted the documents on Tuesday.

Philippine Basketball Association Commissioner Willie Marcial and Chairman Ricky Vargas pay a courtesy call to Senator Christopher “Bong” Go and Executive Secretary Salvador Medialdea in Malacañang on Monday.

Revelations in Aussie Open Al Mendoza | alsol47@yahoo.com

THAT’S ALL NOVAK Djokovic did not surprise. But Naomi Osaka was a bit of a surprise.

While Djokovic merely reaffirmed his domination of men’s tennis with his Australian Open victory last weekend, Osaka was a stunning revelation of how much she has improved in winning the event’s distaff side.

Djokovic easily won the Australian Open as expected, routing Daniil Medvedev in three sets of a match bereft of intense drama and trauma usually attendant in a title showdown.

Djokovic, the 33-year-old human chainsaw from Serbia, never wavered one teeny-weeny bit in dismantling Medvedev, 7-5, 6-2, 6-2.

Only in the first set did Djokovic show a glimpse of human frailty, but which he had quickly overcome to keep the crown and post his record-extending ninth Aussie Open trophy.

And with 18 Grand Slams now across his name—50 percent of that coming in the Aussie Open—Djokovic is just two majors short of equaling the 20 Slams shared by Rafael Nadal and Roger Federer.

Nadal suffered a shocking defeat in the quarterfinals at the hands of Stefanos Tsitsipas, the rising star from Greece.

But Tsitsipas, visibly spent in his marathon five-set against Nadal, succumbed to Medvedev in a semifinal encounter that was more of a bore than a showcase of bold strokes worthy of earning warm applause.

Still, it was Medvedev’s 20th straight win, igniting a spark worthy of a possible upset win over Djokovic, if not at least a semblance of a fiercely-contested finals encounter.

But Medvedev, 25, who had shot up to world No. 4 from 600th in a blast, uncharacteristically folded up just as fast, quickly wilting under Djokovic’s tremendous pounding.

In no time, the 6-foot-6 Russian, infamously known for his uncontrolled temper, virtually broke down, smashing his racket beyond recognition right after his 6-2 loss in the second set.

With a history of fines for on-court bad behavior, I’m sure Medvedev will incur another penalty for abuse of equipment.

STANDARD Insurance Group Chairman Ernesto “Judes” Echauz graces Tuesday’s online Philippine Sportswriters Association Forum.

Echauz confident Navymen could win golds in Vietnam

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F everything falls into place, the riders from the Philippine Navy-Standard Insurance team should deliver the gold in the 31st Southeast Asian Games in Vietnam in November.

“They’ve been training for two months. They will be very competitive,” Standard Insurance Group Chairman Ernesto “Judes” Echauz told Tuesday’s online Philippine Sportswriters Association Forum.

Echauz has been supporting cycling and duathlon through the years and has formed a star-studded team made up of enlisted Navy personnel and employees of his giant insurance company.

For this year’s SEA Games from November 21 to December 2, he expects at least 10 of his riders to be part of the national team that will compete in eight events in road races and two events in duathlon.

The top riders under Echauz’s stable include male cyclists Ronald Oranza, Jan Paul Morales, Emmanuel Comendador, George Oconer and Junrey Navarra and female riders Jermyn Prado, Kate Velasco, Mathilda Krogg and Marriane Grace Dacumos.

Echauz told the forum presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. that his riders are “fully-equipped.”

Echauz, who also heads the Philippine Sailing Association, said the male riders have been training in Naic, Cavite, for two months, while the female athletes are based in Subic.

“In Naic, we have a building with 14 rooms, with a swimming pool and a gym that is comparable to the top gyms here in Manila. The place is very conducive to training,” he said in the forum powered by Smart and with Upstream Media as official webcast partner.

The Philippines won three gold medals, including Prado in women’s individual time trial, on top of four silvers and four bronzes in cycling in the 2019 SEA Games.

MPBL RETURNS

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Josef Ramos

HE Maharlika Pilipinas Basketball League (MPBL) will complete its 20192020 Lakan season from March 1 to 15 in Subic, the league’s legal chief Atty. Brando Viernesto told BusinessMirror on Tuesday.

The Department of Health Memorandum Circular No. 2021-0011 dated February 18 and signed by Undersecretary Maria Rosario Vergeire stated that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) approved of the MPBL’s return but under strict DOH guidelines.

“Finally, amateur leagues are being allowed under the new normal with the guidelines of the DOH,” Viernesto said.

MPBL Commissioner Kenneth Duremdes said that they will enter the Subic bubble on Sunday before playing the postponed Game 3 semifinal matches between Northern Division’s San Juan Knights and Makati City Skyscrappers and Southern Division’s Basilan Steels and Davao Occidental Tigers on Monday.

The winners will then play the best-offive championship series after that.

The games will be played at the Subic Bay Metropolitan Authority gymnasium.

With his victory, Djokovic is now focusing on the French Open in June, a tournament he’d be hard-pressed to win though owing to the visegrip hold of it by Nadal.

With his record 13 French Open titles, Nadal’s moniker of “King of Clay” at Roland Garros has never been that secure.

And as to Osaka’s stature, it became more solid than ever after she destroyed long-reigning tennis queen Serena Williams in the semifinals, 6-3, 6-4, before overpowering Jennifer Brady in the finals, 6-4, 6-3.

The win gave Osaka, 23, a perfect 4-0 in a Slam final, including her wins in the 2018 US Open, 2019 Australian Open and 2020 US Open.

Osaka’s triumph could be a signal for a new era dawning in, as Williams, at 39, might have seen ripples of a career coming to an end.

“I’m done,” said Williams, then stormed out of the post-match presser—in tears.

But with 23 Slams under her belt, Williams has no reason to fret—even as she is one short of Margaret Court’s all-time 24 majors.

In Osaka, with a Tahitian for a father married to a Japanese, Japan found a symbol of universal greatness—a driving force in its frenzied mission to host the postponed 2020 Tokyo Olympics this July. Kampai!

THAT’S IT The Big Three in tennis each has his own bailiwick in the four Slams. Nadal leads with 13 in the French Open, followed by Djokovic with nine in the Aussie Open and Federer eight in Wimbledon.

None dominates the US Open.