BusinessMirror June 02, 2020

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Tuesday, June 2, 2020 Vol. 15 No. 236

By Bernadette G. Nicolas & Samuel P. Medenilla

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‘FORBES’ DUBS PHL ‘RISING STAR’ TOURIST SITE POST-PANDEMIC

HE expected mass permanent labor retrenchment for 2020 may start this month amid the protracted business disruptions caused by the novel coronavirus disease (Covid-19).

The Department of Labor and Employment (DOLE) said it has started getting reports from private companies which are now in the process of reducing their workforce.

Labor Assistant Secretary officer in charge Dominique R. Tutay said they already started getting indicators from some firms either through notices, letters and verbal advice of their intent.

She said among the companies is Okada casino resort hotel, which earlier announced its plans to retrench 1,000 of its employees to maintain its viability during the Covid-19 crisis.

“The Okada [management] already sent a letter to our regional office, which is now in touch with them already to thresh out the details,” said Tutay.

Recent surge

DESPITE the business disruption caused by the Taal Volcano eruption in the first quarter, the DOLE said displacement during the pe-

riod remained relatively stable.

Citing their preliminary report for the first quarter of the year, Tutay said 35,548 employees from 6,121 establishments lost their jobs. This was roughly the same as the 35,458 employees retrenched by 1,421 companies in the same period in 2019.

Even after President Duterte placed the entire Luzon under enhanced community quarantine (ECQ) on March 17, 2020, the DOLE did not record any mass permanent retrenchment at that time.

Instead, thousands of companies resorted to temporary closure and flexible work arrangements to cope with the effects of Covid-19 for a while, supported by government cash aid, which were given directly to their workers.

2.8M Covid-affected

FROM 10,756 on March 16, 2020, the number of Covid-affected workers soared to 2.8 million last week.

See “Layoffs,” A2

By Ma. Stella F. Arnaldo Special to the BusinessMirror

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DAY One of the implementation of general community quarantine in Metro Manila saw pedestrian and vehicular traffic adjusting to the new normal of both physical distancing and an increasing number of bicycles sharing major thoroughfares with four-wheeled vehicles. The railway system has started running but at reduced capacity. The Department of Transportation, drawing flak for the mobility miseries of workers who spent hours on the road waiting for an assortment of rides, said it never promised that the government could fill in the gap from the continuing ban on most public-utility jeepneys and buses. NONOY LACZA/NONIE REYES/BERNARD TESTA/ROY DOMINGO

In new normal, healthy foods, digital will be ‘in’

By Jasper Emmanuel Y. Arcalas

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ILIPINOS will demand healthier foods and rely more on digital transactions for their food transactions under the country’s “new normal,” according to the National Economic and Development Authority (Neda).

These are some of the results of the survey conducted by the Neda a few months ago that sought to define and characterize what is

the new normal in the country’s agriculture sector.

The results of the survey were shared by Neda Agriculture, Natural Resources and Environment Staff Director Nieva T. Natural during an online dialogue between the government and agriculture stakeholders.

The survey results highlighted five characteristics of the new normal for the agriculture sector, especially food trade, as well as policy recommendations post-lockdowns.

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“This is based on crowdsourcing. We released a survey questionnaire and this is how our respondents characterize the new normal,” Natural said during the dialogue hosted by nongovernment organization Greenpeace.

Based on the survey, there would be a “greater emphasis on food security” as the country eases its lockdown measures. However, the survey revealed that respondents expect continuous food supply chain disrup-

tions due to limited movement of manpower, which affects the flow of agriculture-related goods.

“Movement of people involved in the transport of inputs and products, technicians and extension workers will also be limited,” Natural said.

Natural said increased reliance on online or digital transactions food products is expected to continue under the new normal.

See “New Normal,” A2

HE Philippines was dubbed a “rising star” along with six other countries expected to win major tourist attention after the Covid-19 pandemic eases.

In a piece for Forbes published on May 31, 2020, titled “Rising Stars in Travel: These 7 Countries Have Potential To Become Major Tourist Destinations in a Post-Covid World,” writer Jared Ranahan listed the Philippines along with Ethiopia, Iran, Myanmar, Georgia, Slovenia and Tunisia.

Of the Philippines he said, “With roughly 7,500 islands to choose from, this massive archipelago has something to offer even the most finicky of tourists. The northernmost island, Luzon, is home to Metro Manila, a truly massive metropolis consisting of 16 cities—the national capital of Manila and the country’s most populous settlement, Quezon City, are two most popular destinations for a deep immersion into mainstream Filipino culture.”

He added. “Those planning to lounge on the sandy shores should head to Visayas, the country’s central archipelago, where island destinations like Palawan and Boracay offer some of the nation’s finest white-sand beaches, as well as countless opportunities to spot some of the endemic plant and animal species of the Philippines.”

The recognition doesn’t at all surprise Tourism Attaché in London Gerard O. Panga, who has long been promoting the Philippines in the UK and other European countries. In a Facebook message, he told the BusinessMirror, “It’s a big vote of confidence for us…. Many Europeans are raring to travel once the green signal is on for international travel. We’ll get more interest for long-haul beach holiday makers for the winter season, especially if the Europeans are not able to travel overseas this summer.” The summer season in the UK is from June to August, while winter is from December to February.

He underscored that arrivals in the Philippines from the UK “still grew by 4 percent last year despite the Brexit.” Arrivals from the UK were recorded at 209,206, making the country the eighth top source of tourists for the Philippines, compared to other Southeast Asian countries which rank the UK anywhere from ninth to 13th place in terms as a source for inbound travelers, he added. “It’s not bad for us although it’s a lower volume since we also have the lowest direct air seat supply among [Southeast Asia] except Cambodia,” Panga noted.

This was echoed by Philippine Airlines President Gilbert Santa Maria in a recent webinar on tourism, where he said the carrier was already receiving a lot of inquiries from UK citizens on “when can I fly to the beach?”

(See, “We will survive,” in the BusinessMirror, May 16, 2020.)

Panga pointed out that the Philippines is likewise a top destination for Spaniards and Italians. “We were having good See “Forbes,” A2

n JAPAN 0.4698 n UK 62.4371 n HK 6.5244 n CHINA 7.0899 n SINGAPORE 35.7972 n AUSTRALIA 33.6947 n EU 56.2303 n SAUDI ARABIA 13.4768

Source: BSP (June 1, 2020)

News BusinessMirror

A2 Tuesday, June 2, 2020

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PHL eyes $200-M World Bank loan to boost fisheries output T

By Jasper Emmanuel Y. Arcalas

HE Department of Agriculture (DA) on Monday said it is eyeing a $200-million loan (P10.4 billion) from the World Bank to fund its program that seeks to improve the country’s fisheries output and protect its “blue economy” resources.

In a statement, the DA said it recently pitched its Fisheries and Coastal Resiliency (FishCoRe) project, which seeks to scale up and modernize Philippine capture fisheries and aquaculture, to the Washington-based lender. “[The project] would directly contribute to achieving key outcomes in the department’s Food Security Framework which is integral to the national goals of recovery and resiliency as we survive, reboot and grow in the wake of the Covid-19 pandemic,” Agriculture Secretary William D. Dar said.

The DA said the project “aims to address structural weaknesses in the value chain to improve sustainability and resiliency of fishery resources, increase incomes of fisherfolk, and uplift the socioeconomic condition of coastal communities amid the Covid-19 pandemic.”

The DA added that the proposed project would be implemented in selected sites among the 12 Fisheries Management Areas (FMAs) established nationwide in 2019 by the Bureau of Fisheries and Aquatic Resources (BFAR). Through this, the DA can sustainably manage the country’s fishery resources through a science-based and participatory governance framework.

“The FMAs include the country’s major fishing grounds, lakes, bays, gulfs and other areas that may be delineated for fishery resource management purposes, approximate stock boundaries, range, distribution and structure,” it said.

Citing World Bank country director Achim Fock’s letter to Dar, the DA said the Washingtonbased lender “fully supports” the proposed FishCoRe project, noting that it would “sustainably improve” incomes and lives of Fili-

Continued from A1

New normal

THE prolonged restrictions on workers allowed to physically report to their job sites had caused many companies to consider reducing their manpower, like in the case of Okada.

This led the DOLE to project the unemployment rate this year to rise to 8 to 10 percent, which will leave 3 million to 5 million jobless workers.

Most of them are expected to come from the following sectors, which are reliant on their onsite operations: accommodation and food-service activities; wholesale and retail (non-essential services); transportation; arts, entertainment and recreation; and education.

Tutay said they hope the pending P1.5-trillion Covid-19 Unemployment Reduction Economic Stimulus (CURES) Act of 2020 will help minimize the retrenchment.

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HE Senate has approved on third and final reading a bill that gives the President the authority to postpone the opening of classes beyond August.

Sen. Win Gatchalian, coauthor and sponsor of Senate Bill 1541, thanked his colleagues for recognizing the urgency of the proposed measure and giving their approval before the sine die adjournment.

Should the proposed measure become a law before the opening of classes, the President and the Department of Education (DepEd) would have more flexibility to start the school year if Covid-19 cases keep rising and threaten the safety of learners, teachers and nonteaching personnel, according to Gatchalian.

By amending Section 3 of Republic Act (RA) 7797, or “An Act to Lengthen the School Calendar from Two Hundred (200) Days to Not More Than Two Hundred Twenty (220) Class Days,” Senate Bill 1541 authorizes the President, upon the recommendation of the Secretary of Education, to move the start of the school year during a state of emergency or calamity. SBN 1541 covers all basic education institutions, including foreign or international schools.

RA 7797 originally mandates the start of the school year from the

A MAN wearing a face mask pushes a fishing boat at a coastal village in Cavite on May 7, 2020. AP/AARON FAVILA

pino fisherfolk.

“In a recent letter to secretary Dar, [World Bank] country director Achim Fock said they fully support the goals of the project to sustainably improve incomes of Filipino fisherfolk and support resilient coastal communities through enhanced ecosystem management, productivity-enhancing technologies, aquaculture, reduced postharvest losses, value-chain infra-

structure, and related activities,” the DA added.

The DA said Dar had requested World Bank officials, during a recent virtual meeting, to fast-track its loan application to be able to get the funding by mid-2021.

“The DA-BFAR is tasked to submit the project feasibility study

by November 2020, in time for its presentation to WB officials in June 2021. Once the [World Bank]

loan is approved, the DA-BFAR will implement the FishCoRe project in October 2021,” it added.

The DA said the proposed FishCoRe project has four components: fisheries coastal areas resiliency planning; fisheries and coastal resilient resource management; modern and resilient livelihood investments; and project management and coordination, and monitoring and evaluation.

first Monday of June to the last day of August.

“The immediate effect of this legislation would be to empower the President to move the start of the school year 2020-2021 to September or even later in the event that public-health authorities would recommend the postponement of the school year in order to contain the spread of Covid-19,” said Gatchalian, chairman of the Senate Committee on Basic Education, Arts and Culture.

Senate Bill 1541 is a substitute bill consolidating proposals

by Senators Joel Villanueva, Francis Tolentino and Senate President Vicente “Tito” Sotto III. The House version is still pending at the committee level, and lawmakers are looking at the possibility of having the House adopt the Senate version.

Pia: Make ‘bayanihan’ work

MEANWHILE, Sen. Pia S. Cayetano exhorted the country’s educators on Monday (June 1) with this message: “The bayanihan spirit is called upon now more than ever to make education effective for our young children,” as she called for a whole-of-society approach to address challenges to the basic education sector during Covid-19 and beyond.

Speaking before DepEd’s vir-

tual kickoff program of the 2020 Brigada Eskwela and Oplan Balik Eskwela, Cayetano reiterated the importance of blended learning to ensure that no child will get left behind in receiving quality education during the new normal.

“The urgent task at hand [is] the delivery of the education materials.

So we are now rushing to set into place other modes of delivery because the usual physical classroom setting will not be happening anytime soon,” the senator noted.

“However, I’d like to include in the discussion that beyond the delivery of education is [the need to] reach every single child with the help of tools available to us, so we can optimize learning for each child,” she added.

Cayetano said this requires more than just shifting to a different teaching platform—from physical classes to online classes—but a comprehensive “blended” approach, which will employ the participation of parents, teachers and communities in delivering education to children.

Cayetano, who chairs the Senate Committee on Sustainable Development Goals (SDGs), Innovation and Futures Thinking, said educators can turn current challenges into opportunities to jumpstart education for the future.

“I support the initiatives and

at the same time challenge DepEd to make the most of these challenging times and really revolutionize education for our young people today,” she said.

DepEd Secretary Leonor Briones said her agency shares Cayetano’s goal of approaching the sector’s needs using a futures thinking mindset.

Education Undersecretary Nepomuceno Malaluan also expressed his support for Cayetano’s message. He said there is now a much-needed opportunity to “really transform the [country’s] education system.”

DepEd is preparing to deliver different learning modalities to children during the crisis, which include printed modules, online learning resources, and television and radio instructions.

“I trust that in the weeks and months to come, [we can cascade] all this information and bring our educators up to speed so the knowledge that [our children] will receive outside of the classroom is maximized,” added Cayetano, the principal author of three laws on flexible learning, including the Open High School System Act (RA 10665), Open Distance Learning Act (RA 10650) and Ladderized Education Act (RA 10647).

Joni Villanueva, tireless Bocaue mayor, dies

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MAYOR Eleanor “Joni” Villanueva-Tugna

HE Senate on Monday adopted a resolution expressing its profound sympathy and sincere condolences to the family of Bocaue, Bulacan Mayor Eleanor “Joni” Villanueva-Tugna, who succumbed to sepsis secondary to bacterial pneumonia on May 28, 2020, at the age of 42.

Joni was the sister of Sen. Joel Villanueva and daughter of congressman and evangelist Bro. Eddie Villanueva.

Senate Resolution 433 was introduced by Majority Leader Miguel Zubiri and Sens. Sherwin

Continued from A1

At the same time, Filipinos would demand healthier food products as they seek to stay healthy and boost their immune system, according to Natural’s presentation.

At the production side, the survey revealed that there would be “greater demand for technologies that prolong the shelf life of food.”

Natural disclosed that there would also be reduced food demand from institutional buyers, such as restaurants, due to the impact of Covid-19 on the country’s tourism industry that resulted in the shutdown of various hotels and restaurants.

“The most affected commodities are expected to be the incomeelastic food, like meat and highvalue cash crops,” Natural said.

Recommended strategies

Layoffs… Senate okays class opening amendment

The period between April 6 and 24 was among those that saw the biggest increase in the number of Covid-affected workers, more than tripling from 25,124 to 81,835. However, this gradually slowed down last month after the government relaxed its quarantine restrictions to allow more workers to return to work.

“In the past our daily average was between 45,000 and 50,000 [workers]. In the past week our daily average [of reported] workers was at 20,000 daily average,” said Tutay.

New normal…

Gatchalian, Juan Edgardo Angara and Nancy Binay.

The resolution said Joni had worked tirelessly to bring affordable and quality health care to the people of Bocaue by pushing for the construction of its first-ever public hospital.

She also spearheaded the rehabilitation of the Bocaue River, a 12-kilometer river in Bulacan declared as biologically dead by the Department of Environment and Natural Resources.

Joni was one of the first leaders to launch a mass testing pro-

gram for frontliners and persons under investigation (PUI) in Bocaue in the fight against the coronavirus disease (Covid-19), according to the resolution.

As mayor, Joni provided grocery items, including locally produced salted dried fish and fresh vegetables from the Cordillera, to her constituents.

“She was admired for her hands-on approach to managing the day-to-day operations of the municipal government during the pandemic, despite having been diagnosed with vasculitis in January

this year, taking on tasks such as the repacking and distribution of relief goods,” the resolution said.

Joni graduated cum laude with a bachelor’s degree in Broadcast Communication from the University of the Philippines in 1999 and completed her master’s degree in Business Administration from the Ateneo de Manila Graduate of School of Business in 2006. She served as executive director of the Jesus is Lord Church, a religious organization founded by her father.

NATURAL’S presentation showed that the Department of Agriculture (DA) should promote commodity diversification to increase supply of nutritious food, which is expected to have higher demand from consumers under the new normal.

The DA should also “intensify provision of support services, including production inputs, farm machineries and equipment” to improve farmers’ productivity.

Furthermore, farm lands should be consolidated to enhance production and food security.

The DA should also sustain its promotion of “adoption of urban agriculture, backyard/household gardening of edibles, and community farming.”

Likewise, the DA must continue providing zero-interest, no collateral and longer-term credit programs for agriculture-based enterprises and individual farmers and fisherfolk to further improve food production.

“Ensure unhampered movement of agriculture and fishery goods and services through efficient transport and logistics system [including establishment of food terminals and trading centers, warehouses, cold storage and refrigeration facilities, rolling stores, etc.],” Natural’s presentation read.

“Utilize the Supply Chain Regulatory Impact Assessments and Supply Chain Analysis Dashboard to immediately respond to supplychain bottlenecks,” it added.

The government should also “strengthen online marketing of agricultural produce” as more Filipinos rely more on digital or online food transactions. The DA could also link farmers to supply feeding programs of government, according to the survey results.

Natural said the government should intensify research and development for agriculture, particularly for healthy foods and prolonging shelf life of farm produce and food products.

There will also be a need to invest in value-adding and food safety as the country enters the new normal, according to Natural’s presentation.

‘Forbes’…

Continued from A1

trade support and consumer traffic [from them], that’s why I wish this Covid-19 ends.” In 2019, visitors from Spain grew by 12.72 percent to some 50,000, while those from Italy rose by 10.7 percent to about 39,000.

The Philippines received some 8.26 million international tourists in 2019, up 15.24 percent from the previous year. Despite Covid-19, the Department of Tourism continues to promote the Philippines to its markets abroad via social media with its #WakeUpInPH ad.

(See, “DOT soft sells PHL with new ‘dream’ ad,” in the BusinessMirror, April 27, 2020.)

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GROUP DEMANDS GREATER ‘CLARITY’ IN PURCHASE OF ANTI-VIRUS ITEMS

By Joel R. San Juan @jrsanjuan1573

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NTI-CORRUPTION advocacy group Pinoy Aksyon on Monday urged the government to be more transparent on its procurement processes for medical supplies in the fight to contain the Covid-19 outbreak.

In a news statement, the group said it is alarmed by reports alleging that certain suppliers have “cornered” government deals involving polymerase chain reaction (PCR) testing machines and kits and the bulk orders of personal protective equipment (PPE).

“The government is spending huge amount for medical equipment and supplies to fight Covid-19. That’s why we have to make sure that every single centavo is accounted for and that the money was spent on the right things. We need to check the background of all companies bidding to get contracts for these medical equipment,” the group’s convener Ben Cyrus Ellorin said.

The group released the statement after the National Bureau of Investigation (NBI) launched an investigation into accusation of overpricing and profiteering against the owners of Omnibus Bio-Medical Systems, a distributor of Sansure in the Philippines.

The owners were identified as couple Van William and Emily Co. The investigation stemmed from the admission of Budget Undersecretary Lloyd Lao that the couple wrote the Department of Budget and Management and offered an automated extraction machine at P4 million, while another e-mail indicated that the equipment is priced at P4.35 million.

But Sen. Panfilo Lacson disclosed that the machine can be bought directly from Sansure at P1.75 million, triggering renewed calls for Health Secretary Francisco Duque III’s resignation from his post for mishandling the health crisis.

Lao said that the couple’s company did not win in the bidding as the government opted to buy from a Hong Kong-based corporation also distributing Sansure, “but they are complaining why are we not respecting their exclusive distributorship.”

The NBI was asked to determine if the couple may be held liable under the special law on Anti-Profiteering and the Bayanihan Act. Ellorin also called on the firms who have bagged several government contracts to be transparent and cooperate in any investigation that is aimed to address accusations of overpricing, bribery and other irregularities.

It cited the huge difference between the unit price of the PCR kits of different brands awarded to a company.

“There may be other purchases that need to be probed. We cannot let this pandemic turn into an outbreak of corruption,” the group said.

Ellor in sug gested that the government should look into conducting fast-tracked due diligence audits on the Covid-19 purchases in order to keep up with the numerous purchases—most of which required an accelerated date of delivery.

“Legitimate suppliers with solid reputations have nothing to fear,” Ellorin said.

“Each contract costs anywhere from hundreds of thousands to millions. It’s only right for the government to carefully consider each transaction,” it added.

The group also said the quality of the products of the firms seeking government contracts for medical equipment and supplies also have to be tested.

“We know that several countries such as Canada and the UK have returned equipment and medical supplies that are substandard or defective. We have to make sure that we don’t end up getting equipment and supplies that we can’t use,” the group said.

New Lopez Group initiative expands 10 times PGH’s coronavirus testing capacity

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HE Philippine General Hospital (PGH) has accepted an offer from the Lopez Group to help the state university hospital increase 10 times its capability to test for the virus SARS-CoV-2, the causative agent of the dreaded coronavirus disease (Covid-19).

Within the month, Lopez-controlled First Gen Corp. and ABSCBN Corp. will complete an ongoing donation of P46 million worth of new machines and lab equipment that will expand the hospital’s Covid-19 testing capacity from 150 to 1,500 tests per shift. The donated equipment will allow more automation and increase the volume of testing.

Under a newly signed agreement between First Gen and the University of the Philippines , First Gen is allowing PGH through UP the free use of a system of laboratory machines for conducting tests known as reverse transcription polymerase chain reaction (RT-PCR). PGH is administered

by UP, a state university.

The RT-PCR test is a two-step process of first extracting the viral genetic material of SARS-CoV-2 from a patient’s virus-infected cells and then testing to confirm the presence

of the virus by detecting it through PCR. The “chain reaction” of PCR makes it easier to detect viral genetic material if it is present.

ABS-CBN, on the other hand, is donating to PGH several units of a fully integrated automated molecular diagnostics platform, known as BD Max. This particular system combines the two processes of extraction and testing for the presence of the highly contagious virus and shortens the testing period from four hours to just two hours.

“We are grateful to the Lopez Group for helping us fulfill our expanded role as a Covid-19 Referral Center. Armed with the right technology for detection, we can stay ahead of this virus through testing, isolation and treatment,” said PGH Director Dr. Gerardo D. Legaspi.

“Together with assistance from other government agencies and donors, these machines from the Lopez Group will bring us closer to the target of performing 30,000 Covid-19 RT-PCR tests daily,” Legaspi added.

“By strengthening our laboratories, this donation will eventually allow us to serve Covid-19 patients not only from Metro Manila, but also from nearby provinces,” he added.

Editor: Vittorio V. Vitug • Tuesday, June 2, 2020 A3

Sotto cautions DOH on plan to spend P11.7B for Covid-19 ‘contact tracers’

By Butch Fernandez @butchfBM

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ENATE President Vicente Sotto III has cautioned Department of Health Secretary Francisco Duque III against pursuing a plan to spend P11.7 billion to bankroll the DOH’s plan to hire contact tracers to track down potential carriers of the coronavirus disease 2019 (Covid-19).

In a news statement issued on Monday, the Senate President suggested that DOH instead use the P11.7-billion budget for the treatment of persons afflicted with Covid-19.

The Senate leader advised that “it will be wiser and more practical

to divert the P11.7 billion for the treatment of patients,” stressing that “we need funds to treat our sick kababayans. Mas mahalagang gamitin na lang ang pondong ito para sa pagbili ng mga gamot at medical equipment na makakatulong sa paggaling ng mga pasyente.”

Sotto clarified that “what I am suggesting is for the DOH to be more prudent on how the country’s funds are being used. But of course, the decision is still with the President.”

Voicing concerns the multibillion funding could go to waste and be spent on people untrained for the task, the Senate leader cautioned that “you cannot just deploy anyone to do the job.”

“Contact tracing can only be

effective if you use people who are trained in investigation like how they handled it in Baguio,” Sotto observed, adding that “if the DOH hires people who have no experience in investigation, then the program is practically useless.

The people they will hire will just ask black and white questions and get answers that will not yield the needed information to help the government track down people who might have [contracted] the virus.”

Sotto added that “neophyte contract tracers will still need to be taught how to go about contact tracing,” which the Senate President noted will only delay the process.

M o r e o v e r, h e s u g g e s t e d that DOH can coordinate their

contact tracing efforts with other government agencies which have the experience and manpower to go around the country.

“The DOH does not need to hire new people to do contact tracing. It can coordinate with other government offices and tap displaced employees to carry out the task at no additional cost to the government,” Sotto said.

The DOH chief earlier informed the Senate Committee of the Whole that the DOH needs P11.7 billion to fund its contact tracing efforts against Covid-19 with Duque adding the health department intends to hire 130,000 contact tracers for three months to “cover a 1:800 ratio in the entire country.”

Gamboa to NCRPO: Delegate, PNP purges police pensioners’ list devolve travel pass issuance to police station commanders T

By Rene Acosta

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EN. Archie Gamboa, chief of the Philippine National Police (PNP) has directed the National Capital Region Police Office (NCRPO) to delegate and devolve his powers to approve travel pass to local commanders in to hasten the issuance of document to travelers.

“Actually, I talked to Gen. [Debold] Sinas and told him why don’t you devolve your requirements because if you are going to get a travel authority, the requirements are very specific? Only health certificate and others,” the PNP chief said.

Gamboa said the delegation to sign and the devolution of the needed document could free up the NCRPO from the backlog of applications from people who need to undertake necessary travel, or even go back to their provinces amid the general community quarantine.

He said that for Metro Manila alone, the NCRPO has been processing around 500 applications.

“What’s the difference in appreciating from the regional headquarters if you are going to have it done by the chief of police? Maybe they will be carrying out your signature on a delegated capacity,” Gamboa recalled as telling Sinas.

He said the delegation of authority would free up the PNP from the applications that have already accumulated while also empowering the chiefs of police by allowing them to make appreciations of the requests.

Meanwhile, Gamboa said the PNP remains on full alert amid the pandemic, although their deployment, especially in police offices is “graduated.”

“We will assess in a few days whether we are going to downgrade that or not,” he said.

“The only reason why we went on red alert is because of the situation, and of course, it jives with the emergency situation as declared by the national authority,” he added.

@reneacostaBM

HE Philippine National Police (PNP) reported on Monday that it has uncovered the existence of more than 1,000 fraudulent pensioners and vowed to scrap these claimants from its official list of pension beneficiaries.

“More than 1,000 unqualified pensioners continuously claim from the Philippine National Police pension fund,” said PNP chief Gen. Archie Gamboa.

“We have identified them in the nationwide accounting of the police organization’s pensioners and we will immediately purge the list to clean the records once and for all,” he added.

The discovery of 1,027 fake claimants was contained in the report of PNP Retirement and Benefits Administration Service (PRBS) acting Director Col. Arthur Bisnar to Gamboa.

Bisnar said the fake pensioners have been found “to be no longer eligible based on grounds stipulated under the regulations and mandate of the PRBS. “Cases will be filed against individuals and groups perpetrating these fraudulent claims. The PNP will exhaust all legal means to recover lost pension funds paid to ineligible claimants,” Gamboa said.

Maj. Gen. Reynaldo Biay, PNP director for Personnel and Records Management and concurrent overall supervisor of the nationwide accounting, said the pensioners have either been deceased, “have remarried, or have reached the age of majority.”

Gamboa earlier ordered police regional directors to lead in the nationwide accounting of more than 21,000 pensioners who were not able to update their status in 2019 and also failed to avail of the initial nationwide accounting which started in February.

Gamboa stressed to the regional directors the need to ensure that government funds are disbursed efficiently and transparently, particularly in times of crisis.

Due to the restrictions brought about by the Covid-19 pandemic, the PNP launched pensioner “track-care” teams from the Police Regional Offices (PROs) to seek out the identified pensioners, instead of asking them to present themselves before the PRBS for accounting.

The track-care teams were instructed to adhere to the community quarantine guidelines and protocols since most of the pensioners belong to the vulnerable age groups identified by the Inter-Agency Task Force for Emerging Infectious Diseases.

Since May 18, a total of 7,388 pensioners have been accounted for by PROs’ track-care teams, 1,027 of which were found to be no longer eligible for claims.

Among those disqualified were beneficiaries who died in 2012, or have re-married as far back as 2003 but continued to claim pension.

Also, the whereabouts of some 1,023 beneficiaries can no longer be established, while 11 names were found to have been “duplicate entries.”

Masbate residents get ₧16.8-M relief from mining firm PGPRC

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OME 21,329 families in Aroroy, Masbate have received relief packs from the Philippine Gold Processing and Refining Corp., which had earlier earmarked P16.8 million to support the anti-Covid19 efforts of the province and the municipality which hosts PGPRC’s mining site.

The firm also turned over an ambulance unit to the Masbate Provincial Health Office through the Office of the Governor, and another unit is set to be delivered in the next few weeks.

PGPRC owns and operates the processing plant of the Masbate Gold Project located in the municipality of Aroroy, which has stimulated the local economies and created jobs for people in Masbate, particularly in Aroroy.

PGPRC had already disbursed P12 million (from the P16.8 million), specifically for funding support directed at Aroroy’s rural health units, including medical frontliners, who have

also received weekly food packs, plus food relief pack for 6,398 families in eight barangays, and 14,931 families from 33 neighboring barangays.

PGPRC President Dan Moore said that in the context of the “worldwide health and economic crisis that we are experiencing, we all have to do our part in working together to protect and provide not only for ourselves and our families but also for the community as a whole.”

Since March 15, the gold firm has been working with Masbate Gov. Antonio Kho, Aroroy Mayor Art Virtucio, and local line agencies to provide Aroroy’s rural health unit quarantine tents with health amenities, gallons of rubbing alcohol, N95 masks, and food packs. Some 500 sacks of rice were also donated to the provincial government for distribution to marginalized constituents in other municipalities.

In April, PGPRC and the municipal

DELIVERY personnel pose for a souvenir shot before the distribution of a truckload of rice to Aroroy, Masbate, residents.

government of Aroroy distributed food packs for the eight impact barangays and 33 neighboring barangays. This effort covered rice subsidies of all of Aroroy’s 41 barangays.

PGPRC has sustained its continuing support programs, such as providing meals to the enforcement frontliners of Aroroy who man the check points and quarantine areas.

DPWH, Villar Group complete first mobile quarantine facility at CCP complex

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EPARTMENT of Public Works and Highways and Villar Group of Companies have completed the conversion of shipping containers into 120 mobile rooms.

Secretary Mark A. Villar said that the high cube containers converted into

mobile rooms can be used as additional Covid-19 isolation health facilities, or these may also function as alternative living quarters to temporarily house medical doctors and staff on duty at hospitals, or at mega quarantine facilities, operating at Philippine International

Convention Center, World Trade Center and Rizal Memorial Coliseum.

“PUIs [persons under investigation] and PUM [persons under monitoring] may be housed in the We Heal As One Center-Cultural Center of the Philippines while awaiting for

results. The 30 units of shipping containers can accommodate a total of 120 individuals,” Villar noted.

A 20-footer container can be divided into four fully air-conditioned rooms for sleeping with separate toilet and bath, and aluminum window

frame for proper ventilation.

“More than providing facilities for sleeping, medical personnel need not travel from hospitals and/or health facilities to their residences putting at risk the health and safety of their respective families due to their regular exposure

to Covid-19 patients,” Villar said.

“The location of CCP is very strategic.

It is close to quarantine facilities, as well as level 2 and level 3 hospitals. This will serve as prototype for accommodation rooms for health-care workers, as well as PUIs and PUMs,” he added.

A4 Tuesday, June 2, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Survey: German firms favor resumption Go digital, Neda chief tells bizmen of PHL-European Union free-trade talks

By Elijah Felice E. Rosales @alyasjah

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ERMAN firms are clamoring for the resumption of trade talks between the Philippines and the European Union and even dangled some first time investment here if the agreement is sealed.

In a joint survey by the German chambers here and in Singapore, it was reported that most of German companies are in support of the resumption of free-trade agreement negotiations between the Philippines and the EU. The survey showed that 83 percent of them find the FTA to be of high importance to their operations.

Here in the country, at least 45 percent of German investors vowed to expand their current investments if the trade deal is concluded.

Further, the survey indicated that more than 50 German respondents would consider doing a pioneer investment if the FTA liberalizes the Philippine investment regime. For Tristan Arwen G. Loveres, president of the German-Philippine Chamber of Commerce and Industry (GPCCI), this shows the urgency for the Philippines and the EU to return to the negotiating table.

He recommended that talks could resume this year, especially now that both economies are hit hard by the coronavirus pandemic and are in

need of a boost in trade.

“The results show the huge potential for the Philippine-German and more general for the PhilippineEuropean economic relations. We encourage that the next negotiation round be scheduled this year,” Loveres said.

GPCCI Executive Director Martin Henkelmann supported the call and said the trade deal will be crucial in stimulating the economy of both parties: the Philippines and the EU. “All countries and regions look for measures to stimulate the economy after the Covid-19 pandemic in the coming years. A Philippine-EU freetrade agreement linking these two important economic players would

have a strong impulse,” Henkelmann pointed out.

Bilateral negotiations between Manila and Brussels began in 2015 and two rounds of negotiations were conducted in 2016 and 2017.

There were, however, some differences that have to be settled between the two camps, especially on the issue of drug war killings and other human-rights violation cases in the Philippines under the current administration.

Germany is one of the country’s largest trading partners worldwide and the largest from the EU. Last year two-way trade improved nearly 6 percent to $5.55 billion, from $5.24 billion in 2018.

25,000 done, 42,000 more to go. Authorities brace for influx of more home-bound OFWs

By Samuel P. Medenilla @sam_medenilla

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OLLOWING the decongestion of quarantine facilities in Metro Manila and Batangas last week, the government has reopened airport gates for the homecoming of more overseas Filipino workers (OFWs), who mostly lost their jobs abroad due to the coronavirus 2019 (Covid-19) pandemic.

On Monday, the Department of Labor and Employment (DOLE) said it was able to successfully send home over 25,000 OFWs, who were quarantined in the last two months.

Most, or 17,785, of the said OFWs were sent home by the Overseas Workers Welfare Administration (OWWA) in coordination with other concerned government agencies, while the remaining 6,576 were “turned over” to their respective local government units or relatives.

The large-scale operation of the government to reunite the said OFWs with their loved ones was lauded by the Associated Marine Officers’ and

Seamen’s Union of the Philippines, the Associated Philippine Seafarer’s Union and the International Transport Workers’ Federation.

Higher capacity

CHIEF implementer of the government’s national policy on Covid-19 retired Gen. Carlito Galvez announced they will be increasing the maximum number of returning OFWs per day.

From the previous 400 to 600 per day, he said they will now allow 1,000 to 1,500 to arrive at the Ninoy Aquino International Airport daily.

To note, the National Task Force Against Covid-19, which is led by Galvez, pushed for the restriction on arriving OFWs since there were only a small number of accommodations were available for them in Manila.

Galvez said the completion of the task to send home the OFWs after tests and quarantine period is proving to be timely, especially since the task force is expecting the arrival this month of another

42,000 OFWs, who will need to undergo and wait for the result of their reverse transcription-polymerase chain reaction (RT-PCR) tests before they are allowed to return to their hometowns.

The Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) has approved the testing requirement to ensure all of the OFWs will be Covid-free, when they go home.

Alternative gateways

TO prevent the re-occurrence of OFW congestion in NCR, the Department of Transportation (DOTr) is considering diverting some of the returning OFWs to other airports in the country.

Galvez said the Clark International Airport is expected to be the first of such alternative airport this week.

“We will be opening this week the Clark [International Airport for this purpose] since it has the testing capacity,” Galvez said during an online news briefing on Monday.

He said they will open the inter-

national airports in Cebu, and Davao and General Santos for the same purpose once the necessary Covid-19 testing capacity becomes available in the said aviation gateways.

LGU opposition

WHILE movement of OFWs in the country via planes will soon be made easier, Presidential spokesman Harry Roque said, it won’t be the same for domestic travelers.

Citing reports from the Civil Aeronautics Board (CAB) and the Civil Aviation Authority of the Philippines (Caap), he pointed out some LGUs are still “refusing to admit passengers of domestic flights” out of their concern some of them may be infected with Covid-19.

In its previous issuance, the IATF allowed the resumption of commercial flights between areas under general community quarantine (GCQ).

As of Monday, all areas in the country are either under GCQ or modified GCQ. Galvez said they are currently consulting with concerned LGUs to restore domestic air travel.

The data revolution and the Philippines

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By Henry J. Schumacher

ATA has become the new life force that drives the world today. Businesses have always leveraged their company, or customers’ information, to make better, smarter, real time, fact-based decisions—from developing a new product, moving into a new market, or business field, or simply redefining an old process.

The data revolution is creating unprecedented possibilities, not only for businesses, but also for governments and the public sector to inform and transform the society, while driving positive social impact outcomes. There is no question that the Philippines has to take advantage of the opportunities the data revolution has to offer.

The business-process outsourcing (BPO) industry is one segment of the data business that has great chances to further expand; up-skilling of the people is a must though. At the same time, cross-border data flows have to be managed well with emphasis on data protection. After the Philippines was accepted as another Asia-Pacific Economic Co-operation economy that will be allowed to get involved in the Apec Cross-border Privacy Rules (CBPR) system, the BPO industry will want to be Apec CBPR certified and also comply with the requirements of the EU. There will soon be a Philippine-bases Accountability Agent to certify Apec CBPR. Data science and business analytics will play a decisive role in future. Why? Predictive analytics

and data automation have become the hottest topics for business. Predictive analytics will allow business to assess future economic conditions, risk areas, climate trends, infrastructure maintenance and investment needs. It becomes obvious that companies have to train their staff in data analytics so that they can respond to market opportunities faster and, at the same time, avoid disruptive innovation.

We are running a series of webinars to cover those topics. The webinars include Advanced Excel and Powerful Data Visualization through MS Power BI. Working from home—the “new normal”—As we continue to navigate our way through the effects of the global pandemic and hope to get business back on track fast, we are aware that we have no choice but to adjust to the new normal in our working environment. DataOne and European Innovation, Technology, Science Center Foundation (EITSC) organized a webinar wherein our speakers shared their insights about the challenges and actions necessary to keep business sustainable

amid prolonged uncertainty and volatility. We identified compliance and security issues that work-fromhome arrangements create, evaluated the technologies available and discussed how they can be deployed to mitigate those risks.

The gig economy is in full swing and offers great opportunities for Filipinos. The gig economy is an environment in which temporary positions are common and organizations around the world contract independent experts for short-term engagements. There are a number of forces behind the rise, for one thing, in this digital age, the work force is increasingly mobile and work can be done from anywhere, so that job and location are decoupled. That means that freelancers can select among temporary jobs and projects around the world, while employers can select the best individuals for specific projects from a larger pool

than that available in any given area.

It is obvious that people are needed to unlock the power of data; the significant rise in demand for data specialists is resulting in a talent crunch. It is essential to equip our people with the necessary digital skills for tomorrow, enabling them to design impactful, innovative solutions to manage our data inventory and data analytics, risk assessments, consumer rights requests, privacy notices, sale of data, consent, incident response and more.

We offer that training.

In conclusion, given the data revolution, predictive analytics and data automation will be some of the hottest topics for business this year. As companies are realizing the unprecedented opportunities “data mining” creates, there will be a shift to more predictive analytics to assess future economic conditions, risk areas, climate trends, infrastructure maintenance, and investment needs.

It will be essential to tap on all stakeholders—government, private sector, academe and civil society—to turn these challenges into opportunities. It goes without saying that such stakeholder relations must be built on trust; and remember, trust and integrity are two sides of the same coin.

If you need assistance in data management, we have experts that can assist. You can reach me at schumacher@eitsc.com.

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S quarantine restrictions nationwide are eased, the government has advised firms to relocate much of their products and services to digital platforms in anticipation of a rise in e-commerce transactions under the so-called new normal.

Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua on Monday said e-commerce will likely play a larger role for businesses and consumers under the new normal. He argued its feature of cashless payment makes it viable at a time people are directed to avoid physical and social contact to prevent the spread of the virus.

“Online shopping and marketing platforms will play bigger role in the new normal as businesses and consumers increase the use of electronic transactions, including cashless payment systems and other financial technology platforms,” Chua said in a news statement.

As such, he urged firms to bring their goods and services online to cope with changes brought about by the health crisis. Especially now that restrictions are relaxed, Chua said this might be the best time for businesses to make their next moves in boosting buyer confidence again.

“Businesses need to innovate and make full use of technology to resume operations and cater to consumer needs and preferences while still managing risks of Covid-19 infection,” he said.

In a survey done by the Inter-Agen-

cy Task Force Technical Working for Anticipatory and Forward Planning, it was reported that more than 50 percent of companies suffered an income decline due to the coronavirus pandemic and lockdowns. Difficulties in moving goods and people, imposition of curfews and lack of public transport made it hard for the private sector to make money over the past weeks.

In response to the rise in e-commerce transactions, the government is pushing for the review and possible amendment of the Electronic Commerce Act of 2000.

The revision should make the law more comprehensive in terms of detailing what transactions are covered by it, as well as the rights of consumers and the penalties for violators. The socioeconomic planning chief said this would compel businesses to make e-commerce easier, affordable and secure.

“Businesses need to make online shopping easy, affordable and secure for consumers so that they need not go out to buy what they need and want,” Chua said.

In addition to amending the law, it is important as well for government and private sector to pour in capital for the development of information and communications technology infrastructure. This should boost the capacity of the country’s Internet to manage the surge in online transactions and consumer requirement for reliable digital connectivity. Elijah Felice E. Rosales

DepEd says it’s ready; opens OBE, ‘Brigada’ ...

continued from a8

Particularly, this is for learners who don’t have any contact information, he said.

“In the next few days we will have a definite advisory on this [late enrollees],” Malaluan said.

Basic Education Learning Continuity Plan

AT the virtual kickoff of BE and OBE, Education Secretary Leonor Magtolis Briones presented the Basic Education Learning Continuity Plan in the Time of Covid- 19 (BE-LCP).

“This is the Department’s response to the challenges posed by Covid-19 in the field of basic education. I have always maintained that education must continue, whatever the changes and even dangers we confront now and in the future, “ Briones said.

Briones stressed that the LCP is not the work of one person alone.

“It is truly an integrated output of the Department. BE-LCP is the result of consultations with partners and advisers, legislators, executives and directors, teachers, parents, learners and the general public. All these contributions were integrated and harmonized by the Executive Committee and Management Committee under my direction and drafted by my Undersecretary and Chief of Staff,” she said.

Briones said BE-LCP is the result of inputs from different units and field offices of the department; advice from the Philippine Forum for Inclusive Quality Basic Education or Educ Forum; counsel from the chairmen of the House and Senate Committees on Basic Education; an online survey of more than 700,000 respondents; and a survey of teachers’ readiness for distance learning delivery.

BE-LCP covers the essential requirements of education in the time of Covid-19, e.g. most essential learning competencies, multiple learning modalities for teachers, school leaders and learners, required health standards in schools and workplaces, and special activities like Brigada Eskwela, Oplan Balik Eskwela and partnerships.

Even before Covid-19 unleashed its fury on the international community and the country, the DepEd chief said that they already saw the increasing role of technology in education.

For queries and clarifications regarding the enrollment and other initiatives of the Department for the upcoming school year, please call telephone numbers (02) 8636-1663; (02) 8633-1942; mobile phone numbers 0919-456-0027; 0995-921-8461; or e-mail at action@deped.gov.ph.

The public can also visit www.deped.gov.ph/ obe-be for frequently asked questions about SY 2020-2021. Claudeth Mocon-Ciriaco

House OKs ₧1.3-T ARISE bill for jobs protection, stimulus

...

continued from a8

P44 billion this 2020 to the Board of Investments (BOI) for grants and technical assistance to business entities engaged in exporting or importing, and those manufacturing new products and services to meet the needs of the domestic market, in order to restore or identify new global market trends to increase competitive advantage.

P15 billion for cash for work program in agriculture

P66 billion to Department of Agriculture to support the Balik Probinsya, Bagong Pag-asa Program under EO 114 of 2020.

P100 billion will be allocated to National Emergency Investment Vehicle (NIEV), to be created under the proposal to enable faster recovery of certain critically impacted businesses vital to the economy. Also,

P25 billion is appropriated as equity of the national government in NIEV. An additional equity of P25 billion shall be appropriated in the 2021 General Appropriations Act. Also, the proposed ARISE will include an enhanced Build, Build, Build program worth P650 billion in three years starting 2021; provided that 20 percent shall be appropriated and released in 2020, 40 percent in 2021, and 40 percent in 2022.

This enhanced BBB will include: health facilities for UHC and pandemic demands,“SchoolsfortheFuture”facilities, infrastructure for creative industries, infrastructure for food security and agricultural resilience, passenger portsandterminals,policestationsand barracks, prison infrastructure, social housing projects, relocation of manufacturing and service and facilities.

The World BusinessMirror

Editor: Angel R. Calso

Trump took shelter in White House bunker as protests raged

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A SHINGTON—Secret Ser v ice agents rushed President Donald Trump to a White House bunker on Friday night as hundreds of protesters gathered outside the executive mansion, some of them throwing rocks and tugging at police barricades.

Trump spent nearly an hour in the bunker, which was designed for use in emergencies like terrorist attacks, according to a Republican close to the White House who was not authorized to publicly discuss private matters and spoke on condition of anonymity. The account was confirmed by an administration official who also spoke on condition of anonymity.

The abrupt decision by the agents underscored the rattled mood inside the White House, where the chants from protesters in Lafayette Park could be heard all weekend and Secret Service agents and law enforcement officers struggled to contain the crowds.

Friday’s protests were triggered by the death of George Floyd, a black man who died after he was pinned at the neck by a white Minneapolis police officer.

The demonstrations in Washington turned violent and appeared to catch officers by surprise. They sparked one of the highest alerts on the White House complex since the September 11 attacks in 2001.

“The White House does not comment on security protocols and decisions,” said White House spokesman Judd Deere. The Secret Service said it does not discuss the means and methods of its protective operations. The president’s move to the bunker was first reported by The New York Times.

The president and his family have been shaken by the size and venom of the crowds, according to the Republican. It was not immediately clear if first lady Melania Trump and the couple’s 14-year-old son, Barron, joined the president in the bunker. Secret Service protocol would have called for all those under the agency’s protection to be in the underground shelter.

Trump has told advisers he worries about his safety, while both privately and publicly praising the work of the Secret Service.

Trump traveled to Florida on Saturday to view the first manned space launch from the US in nearly a decade. He returned to a White House under virtual siege, with protesters—some violent—gathered just a few hundred yards away through much of the night.

Demonstrators returned on Sunday afternoon, facing off against police at Lafayette Park into the evening.

Trump continued his effort to project strength, using a series of inflammatory tweets and delivering partisan attacks during a time of national crisis.

As cities burned night after night and images of violence dominated television coverage, Trump’s advisers discussed the prospect of an Oval Office address in an attempt to ease tensions. The notion was quickly scrapped for lack of policy proposals and the president’s own seeming disinterest in delivering a message of unity.

Trump did not appear in public on Sunday. Instead, a White House official who was not authorized to discuss the plans ahead of time said Trump was expected in the coming days to draw distinctions between the legitimate anger of peaceful protesters and the unacceptable actions of violent agitators.

On Sunday, Trump retweeted a message from a conservative commentator encouraging authorities to respond with greater force. AP

Tuesday, June 2, 2020

A5

World alarmed by violence in US; demonstrators get global support

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ONDON—Nations around the world have watched in horror at the civil unrest in the United States following the death of George Floyd, a black man who died after a white police officer pressed his knee on his neck until he stopped breathing.

Racism-tinged events no longer startle even America’s closest allies, though many have watched coverage of the often-violent protests with growing unease. Burning cars and riot police in the US featured on newspaper front pages around the globe on Sunday—bumping news of the Covid-19 pandemic to second-tier status in some places.

Floyd’s death on May 25 in Minneapolis was the latest in a series of deaths of black men and women at the hands of police in the US. Thousands gathered in central London on Sunday to offer support for American demonstrators. Chanting “No justice! No peace!” and waving placards with the words “How many more?” at Trafalgar Square, the protesters ignored UK government rules banning crowds because of the pandemic. Police didn’t stop them.

Demonstrators then marched to the US Embassy, where a long line of officers surrounded the building.

Several hundred milled around in the street and waved placards.

Protesters in Denmark also converged on the US Embassy on Sunday. Participants carried placards with messages such as “Stop Killing Black People.”

The US Embassy in Berlin was the scene of protests on Saturday under the motto: “Justice for George Floyd.”

Several hundred more people took to the streets on Sunday in the capital’s Kreuzberg area, carrying signs with slogans like “Silence is Violence,” “Hold Cops Accountable,” and “Who Do You Call When Police Murder?”

No incidents were reported.

Germany’s top-selling Bild newspaper on Sunday carried the sensational headline “This killer-cop set America ablaze” with an arrow pointing to a photo of now-fired police officer Derek Chauvin, who has been charged with third-degree murder in Floyd’s death, with his knee on Floyd’s neck. The newspa-

per’s story reported “scenes like out of a civil war.”

In Italy, the Corriere della Sera newspaper’s senior US correspondent Massimo Gaggi wrote that the reaction to Floyd’s killing was “different” than previous cases of black Americans killed by police and the ensuring violence.

“There are exasperated black movements that no longer preach nonv iolent resistance,” Gag gi wrote, noting the Minnesota governor’s warning that “anarchist and white supremacy groups are trying to fuel the chaos.’’

In countries with authoritarian governments, state-controlled media have been highlighting the chaos and violence of the US demonstrations, in part to undermine American officials’ criticism of their own nations.

In China, the protests are being viewed through the prism of US government criticism of China’s crackdown on anti-government protests in Hong Kong.

Hu Xijin, the editor of the stateowned Global Times newspaper, tweeted that US officials can now see protests out their own windows: “I want to ask Speaker Pelosi and Secretary Pompeo: Should Beijing support protests in the US, like you glorified rioters in Hong Kong?”

Hua Chunying, a Chinese Foreign ministry spokesman, pointed out America’s racial unrest by tweeting “I can’t breathe,” which Floyd said

before his death.

In Iran, which has violently put down nationwide demonstrations by killing hundreds, arresting thousands and disrupting Internet access to the outside world, state television has repeatedly aired images of the US unrest. One TV anchor discussed “a horrible scene from New York, where police attacked protesters.” Another state TV message accused US police agencies in Washington of “setting fire to cars and attacking protesters,” without offering any evidence.

Russia accused the United States of “systemic problems in the human rights sphere.’’ It denounced Floyd’s death as the latest in a series of police violence cases against African Americans.

“This incident is far from the first in a series of lawless conduct and unjustified violence from US law enforcement,’’ the Russian Foreign Ministry said in a statement. “American police commit such high-profile crimes all too often.’’

There also have been expressions of solidarity with the demonstrators.

In Brazil, hundreds of people gathered in front of the Rio de Janeiro state government palace to protest crimes committed by the police against black people in Rio’s working-class neighborhoods, known as favelas.

The protest, called “Black lives matter,” was interrupted when police used tear gas to disperse

Unrest overshadows peaceful US protests for another night

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ASHINGTON—Tens of thousands of protesters took to the streets across America again on Sunday, with peaceful demonstrations against police killings of black people overshadowed by unrest that quickly ravaged parts of cities from Pennsylvania to California.

City and state officials had deployed thousands of National Guard soldiers, enacted strict curfews and shut down mass transit systems, but that did little to stop many cities from again erupting into unrest.

Protesters in Philadelphia hurled rocks and Molotov cocktails at police, officials said, while masked crowds broke into upscale stores in a San Francisco suburb, fleeing with bags of merchandise. In Minneapolis, a truck driver drove into a massive crowd of demonstrators nearly a week after the death of George Floyd, a black man who pleaded for air as an officer pressed a knee into his neck.

Tensions mounted outside the White House, where police fired tear gas and stun grenades into a crowd of more than 1,000 chanting protesters across the street in Lafayette Park. They scattered, piling up road signs and plastic barriers to light a raging fire in a street. Some pulled an American flag from a nearby building and threw it into the blaze. Others added tree branches. A cinder block building housing bathrooms and a maintenance office in the park was engulfed in flames.

The entire Washington, D.C., National Guard—roughly 1,700 soldiers—was being called in to help control the protests, according to two Defense Department officials who insisted on anonymity because they were not authorized to publicly discuss the matter.

As the protests grew, President Donald Trump retweeted conservative commentator Buck Sexton who called for “overwhelming force” against violent demonstrators.

At least 4,100 people have been arrested over days of protests, according to a tally compiled by The Associated Press. Arrests ranged from looting and blocking highways to breaking curfew.

In Salt Lake City, a leading anti-police brutality activist condemned the destruction of property but said broken buildings shouldn’t be mourned on the same level as black men like Floyd.

“Maybe this country will get the memo that we are sick of police murdering unarmed black men,” said Lex Scott, founder of Black Lives Matter Utah. “Maybe the next time a white

people. “I can’t breathe”, said some of the demonstrators, alluding to the George Floyd´s death. Protesters called for an end to police operations inside favelas.

In Canada, an anti-racism protest degenerated into clashes between Montreal police and some demonstrators. About three hours after a march that snaked its way through downtown Montreal had ended, police declared the gathering illegal after they say projectiles were thrown at officers who responded with pepper spray and tear gas. Some windows were smashed and some fires were set.

O ve r t he we e k e nd , L ebanese anti-government protesters flooded social media with tweets sympathetic to US protesters, using the hashtag #Americarevolts.

That’s a play on the slogan for Lebanon’s protest movement— Lebanon revolts—which erupted on October 17 last year. Within 24 hours, the hashtag #Americanrevolts became the No. 1 trending tag in Lebanon.

In another expression of solidarity with American protesters, about 150 people marched through central Jerusalem on Saturday to protest the shooting death by Israeli police of an unarmed, autistic Palestinian man earlier in the day. Israeli police mistakenly suspected that the man, Iyad Halak, was carrying a weapon.

When he failed to obey orders to stop, officers opened fire. AP

Asia’s factories remain in doldrums as lockdowns ease

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Demonstrators start a fire as they protest the death of George Floyd on Sunday, May 31, 2020, near the White House in Washington. Floyd died after being restrained by Minneapolis police officers. AP/Alex Brandon

police officer decides to pull the trigger, he will picture cities burning.”

Yet thousands still marched peacefully, with some also calling for an end to the fires, vandalism and theft, saying it weakened calls for justice and reform.

“They keep killing our people,” said Mahira Louis, 15, who marched with her mother and several hundred others through downtown Boston. “I’m so sick and tired of it.”

The officer who pressed his knee onto Floyd’s neck has been charged with murder, but protesters are demanding the other three officers at the scene be prosecuted. All four were fired.

“We’re not done,” said Darnella Wade, organizer for Black Lives Matter in neighboring St. Paul, where thousands gathered peacefully in front of the state Capitol. “They sent us the military, and we only asked them for arrests.”

Minnesota Gov. Tim Walz brought in thousands of National Guard soldiers to help quell violence that had damaged or destroyed hundreds of buildings in Minneapolis over days of protests. On Sunday, in a display of force, long lines of state patrolmen and National Guard soldiers lined up in front of the Capitol, with perhaps a dozen military-style armored vehicles behind them.

Disgust over generations of racism in a country founded by slaveholders combined with a string of recent racially charged killings to stoke the anger. Adding to that was angst from months of lockdowns brought on by the coronavirus pandemic, which has disproportionately hurt communities of color, not only in terms of infections but also in job losses and economic stress.

The droves of people congregating for demonstrations threatened to trigger new outbreaks, a fact overshadowed by the boiling tensions.

The scale of the coast-to-coast protests rivaled the historic demonstrations of the civil rights and Vietnam War eras.

Curfews were imposed in major cities around the US, including Atlanta, Chicago, Denver, Los Angeles, San Francisco and Seattle. About 5,000 National Guard soldiers and airmen were activated in 15 states and Washington, D.C. Thousands of demonstrators marched peacefully through Boston in several protests during the day, but some clashed with officers as night fell, throwing rocks, bricks and glass bottles and torching a police vehicle.

Authorities fired volleys of tear gas to disperse hundreds of demonstrators in

downtown Atlanta as a curfew took hold. Some on the fringes of a largely peaceful protest set off fireworks and burned construction materials near a park where police and National Guard troops turned out in force.

In Indianapolis, two people were reported dead in bursts of downtown violence this weekend, adding to deaths reported in Detroit and Minneapolis in recent days.

In tweets on Sunday, Trump blamed anarchists and the media for fueling violence.

Attorney General William Barr pointed a finger at “far left extremist” groups. Police chiefs and politicians accused outsiders of coming in and causing the problems.

At the Minneapolis intersection where Floyd was killed, people gathered with brooms and flowers, saying it was important to protect what they called a “sacred space.”The intersection was blocked with the traffic cones while a ring of flowers was laid out.

Among the people in Minneapolis was Michael Brown Sr., the father of Michael Brown, whose killing by a police officer in Ferguson, Missouri, set off unrest in 2014.

“I understand what this family is feeling.

I understand what this community is feeling,” he said. AP

sia’s factor y managers remained downbeat about the world’s trade engines in May, even as battered economies start to reopen across the region.

Purchasing managers indexes for South Korea, Japan and Taiwan fell, according to data released by IHS Markit on Monday. Readings for Vietnam, Malaysia, Thailand and the Philippines improved but remained below 50, the dividing line between contraction and expansion.

China PMI data released on Sunday showed the official manufacturing purchasing managers’ index declined to a worse-thanexpected 50.6. There was better news on Monday in the Caixin PMI, an index more focused on smaller export-orientated firms, which rose to 50.7 from 49.4.

The factory data underscore the fragile and uneven recovery expected in Asia as prospects continue to weaken for countries in the northeast.

Northeast Asia “has had more success in containing the virus, which has led to quicker recover y in mobility and bodes well for domestic demand, but they still have to contend with a very weak external environment and a potential downturn in the semiconductor sector,” said Priyanka Kishore, head of India and Southeast Asia economics at Oxford Economics Ltd. in Singapore.

Many emerging economies showed signs of revival, even as their manufacturing sectors were still contracting. The process of re-opening will be challenging for economies in the region, especially now with the risk that rising US-China tensions spill into economic policies, said Chang Shu, Bloomberg’s chief Asia economist.

High-frequency figures recently have shown an uptick in global demand, with risks that the recovery across economies will be uneven without a vaccine for the coronavirus.

Manufacturing gauges are signaling more relief so far than services sectors, with governments only now beginning to ease lockdowns and allow for more mobility of consumers.

In South Korea, a bellwether for global trade, exports posted another double-digit decline in May. Overseas shipments fell 24 percent from a year earlier, the trade ministry said on Monday, compared with economists’ forecast of a 25 percent contraction. Bloomberg News

A6 Tuesday, June 2, 2020 • Editor: Angel R. Calso

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editorial

Reviving an economy crippled by lockdown

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asing Metro Manila into general community quarantine (GCQ), a softer version of the government’s strict quarantine measures, involves a delicate balance of trying to restart our battered economy without fueling a second wave of Covid-19 infections.

Tax collections slid 61.56 percent year-on-year to P90.5 billion in April, a month when the Bureau of Internal Revenue’s collection usually surges because of the income tax deadline, which had to be extended thrice because of the lockdown. Meanwhile, Customs’ revenues, the government’s second-biggest source of income, are also down 33.38 percent.

The Treasury reported a 10,214.56-percent budget deficit jump at the end of the first four months of 2020, rising to P347.9 billion from only P3.4 billion last year.

Anemic collections have forced the government to borrow more to finance the country’s Covid-19 response program. By year’s end, government is expected to have an outstanding debt level equivalent to 49.8 percent of gross domestic product (GDP).

The Philippine economy shrank 0.2 percent in the first quarter and is projected to have lost as much as P1.1 trillion during the first 45 days of the lockdown, according to government data. New York-based think tank Global Source said the country may post a minimum of 7 percent GDP contraction this year.

Remittances from Filipinos working abroad are usually more than enough to keep the economy afloat, but thousands of OFWs are returning home jobless, while many of those who remain abroad are unable to work or at the brink of losing their employment because of the pandemic.

The World Bank said it sees remittances of migrant workers falling 20 percent across the globe because of the pandemic.

Labor Undersecretary Claro Arellano told a recent House Committee on Overseas Workers’ Affairs hearing that around 500,000 OFWs will be unemployed

by August this year, joining the 5 to 10 million workers who could lose their jobs in the country, which Labor Secretary Silvestre Bello III earlier projected.

Ending the lockdown would not immediately help the economy bounce back, even considering that Metro Manila accounts for the largest share of the country’s GDP at 36 percent (followed by Calabarzon at 17 percent and Central Luzon with a share of 9.8 percent, regions that will also be shifted to GCQ).

The fear of a virus that has no vaccine will still be around and it will continue to have a significant effect on the economy.

People will still be reluctant to return to work and go shopping, affecting consumption. They will likely forego making big purchases and new investments, like buying a house, for instance, or starting a business.

Even businesses are likely to review their financial commitments and major investments while the economic outlook is uncertain. Already, we are seeing some companies looking to trim their work force to cut costs, particularly in the travel and hospitality sectors.

If travel restrictions are relaxed, the threat of catching the virus and the hassles of all the additional precautionary measures being imposed by authorities will likely discourage many people to travel, a big setback to the tourism industry, which contributes around 12 percent to the Philippine economy.

Even other sectors like the IT-BPM, manufacturing, trade and banking are not spared. For instance, the Bank of the Philippine Islands, one of the largest banks in the country, already announced that it is laying off about 30 percent of its probationary employees, or about 2 percent of BPI’s total work force.

The millions of workers who will be permanently laid off, including the jobless OFWs coming home, plus the new graduates who will join the ranks of the unemployed, will all reinforce downward spending, or reduce demand for goods and services across the whole economy.

But there is hope in this long and winding road to recovery, and it starts with resuming a range of economic activities that were crippled during the lockdown. The government has no choice but to arrest the economic free fall.

In the long term, the debt and deficit will be diminished by economic growth, productivity and low inflation, once industries and businesses are revived and people get their jobs back.

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here is no quick fix to our battered economy as we reopen it. The road to the new normal and economic recovery will be long and slow but sure, as it is with the rest of the world.

We can already see how the economy would fare in the second quarter of 2020. And we don’t have to wait for the official data on the gross domestic product to validate this observation. But we should be optimistic and focus on recovery in the new normal of doing business.

I am sure conglomerates as well as the small and medium-scale industries will adapt to the changing business environment forced upon them by Covid-19. For starters, they will impose rigid screening on employees and strict health protocols to keep the virus at bay.

Most companies will likely revisit and refocus their operations given the new normal that will prevail in the reopening of the economy.

Vista Land & Lifescapes Inc., part of the Villar Group of Companies that I head, for instance, will refocus on optimizing its current portfolio of investment properties. It will take advantage of its geographic reach in 147 cities and municipalities across the country and aims to generate over 50 percent of the company’s revenue outside Metro Manila. Vista Land will also focus on developing integrated urban projects combining lifestyle retail, prime office space,

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university town, health care, themed residential developments and leisure components.

The real-estate sector is partly dependent on remittances from our overseas Filipino workers. Luckily, our end-users, as Vista Land President and Chief Executive Manuel Paolo Villar observed, remain committed to completing payments even as demand for affordable housing persisted.

The remittances that fuel housing and the general economy are not about to falter despite the lower amount of money sent by our workers abroad. Bangko Sentral ng Pilipinas Governor Benjamin Diokno has expressed optimism that remittances will recover from the adverse impact of the Covid-19 pandemic.

The BSP’s concern on how the Covid-19 pandemic will impact on future remittances flows is understandable given their strong contribution to consumption expenditure.

The Bangko Sentral just trimmed its growth forecast for remittances this year to 2 percent, slower than its previous forecast of 3 percent, taking into account the impact of the pandemic on the employment of overseas Filipino workers.

“However, it is important to point out that crisis or no crisis, Filipinos abroad continue to send remittances to their families at home. It would appear that OFW remittances have an altruistic character. Furthermore, the adverse impact of Covid-19 on remittances may be temporary,” said Diokno.

Restaurants and the fast-food industry, meanwhile, are two of the sectors that will experience challenging times during the pandemic period.

Jollibee Foods Corp., the biggest fastfood chain, just recently announced it would spend P7 billion to reorganize its global business structure in response to the changing consumer behavior. It is being forced to create revenue growth drivers for the future, especially food delivery-to-home and offices, and take out and drive-thru.

Jollibee knew that consumers around the world would not quickly revert to their pre-Covid-19 behavior even if lockdowns and other forms of restrictions were lifted in different nations.

The transportation system is another sector that will see a radical change during the reopening of the economy. We may see some changes painful to the transportation operators and the commuting public in general. But we have to try our best to adapt to the new transportation regime if we want the economy to rebound and restore jobs.

The government, among others, has proposed the consolidation of operators and rationalization of routes, dedicated lanes for public transportation and online transactions and payments. The government is allowing buses operating at 50 percent capacity in areas under general community quarantine.

Never try to fight the cycles

Ruben M. Cruz Jr.

BusinessMirror is published daily by the Philippine Business Daily Mirror

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Road to new normal will be slow but sure

OUTSIDE THE BOX

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ne of the problems with Western thinking is that it is linear, meaning, it follows the belief that the world moves in a relatively straight line. One of the benefits of this type of view is the strong belief that there are always greener pastures on the other side of the mountain, and that the world is limitless if you just keep moving forward.

The West thinks, to put it simplistically, that there is birth, life, death, and afterlife, basically a straight line. In Eastern thinking—Hinduism and Buddhism—there is a circle of life and circles are never-ending.

Further, that “circle” creates a repeating cycle.

In October 2015, the global po-

litical cycle changed, leading to a period of “political chaos.” We think of chaos as being negative, which it can be. But it is a period of disorder and general confusion because it is a period of change.

The following year (2016) gave the world the Brexit vote as well as the elections of Rodrigo Duterte and

It is critical to know that whatever cosmic forces are at work, the “events” support the cycle, not the other way around. Who in their right mind would have predicted only a week ago that the Covid-19 pandemic would be thrown off the global headlines? Just as there was a flicker of light seen at the end of the economic tunnel in the US, all hell broke loose.

Donald J. Trump. But both Brazil and South Korea impeached and removed their sitting presidents.

A major coup attempt in Turkey failed but also cemented President Recep Tayyip Erdoğan’s authoritarian government. Taiwan elected Tsai Ing-wen as its first female president, marking the return to power of the pro-independence Democratic Progressive Party.

Stimulus package I am pleased to learn that the administration of President Duterte is thinking of ways to alleviate the plight of workers and businesses that are reeling from the pandemic. I am supporting the initiative of the Department of Trade and Industry on the proposed Philippine Economic Stimulus Act of 2020 to provide immediate assistance to workers and businesses, and help the economy recover from the impact of the coronavirus pandemic.

“As we work toward the gradual lifting of the quarantine, more businesses will be able to operate, but at lower capacities due to limited capital resources that dwindled during the quarantine period. There are also strict health measures that are being imposed and the firms would need working capital loans,” said Secretary Ramon Lopez. “At a very critical time such as this, we must not only ensure a safe working environment for our citizens, but also continue to find means to support, and more importantly save the jobs of those adversely affected to facilitate faster economic recovery.”

The PESA bill proposes a P1.3trillion post-pandemic stimulus package, which includes a budget of P650 billion for an expanded infrastructure program on health care, education and food security.

The business sector and the labor force need all the help they can get.

The road to recovery is not easy, as we like to believe. But we as a nation can make it happen.

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

Twenty-seventeen carried on the cycle. Prince Mohammad bin Salman took power and basically upended Saudi Arabia’s political elite. Emmanuel Macron’s election in France was called a “Political Earthquake.” Spain’s northeastern Catalonia region held a referendum for independence, deemed illegal by the central government, and threatening its unification with Castile Spain going back 500 years.

The major historical cycle going back to ancient Rome calls for “economic chaos” after the political cycle.

This began in January 2020.

It is important to understand these cycles. While these are global cycles, they do not affect every nation or economy the same way.

It is not a zero-sum game where a “loser” offsets a “winner.” While again simplistic, Duterte has the support of a large majority of the Philippine electorate, while Trump See “Mangun,” A7

Opinion BusinessMirror

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Extension of local tax deadlines

Black lives matter Manny F. Dooc

TELLTALES

Atty. Rodel C. Unciano

Tax Law for Business

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nder our present tax laws, the Local Government Code of 1991 provides timeline for the payment of local taxes, fees and charges as well as timeline for payment of realproperty taxes. In accordance with the provisions of the LGC, Local Government Units (LGUs) in turn have to enact an ordinance governing local taxation in their respective territorial jurisdictions.

Section 167 of the 1991 LGC mandates the payment of all local taxes, fees, and charges within the first 20 days of January or of each subsequent quarter, as the case may be. For the time of payment of RPT, Section 250 of the same law provides payments for basic real-property tax without interest in four equal installments: the first installment to be due and payable on or before the 31st of March; the second installment, on or before the 30th of June; the third installment, on or before the 30th of September; and the last installment on or before the 31st of December.

In line with Section 4(Z) of Republic Act 11469 or the “Bayanihan to Heal As One Act,” authorizing the President to move statutory deadlines and timelines for the payment of taxes, fees and other charges required by law, the Department of Finance, through Department Circular (DC) 002-2020, extended the deadlines for the payment of taxes, fees, and charges imposed by LGUs as of March 25, 2020 to June 25, 2020. As a result of the extension, no interest, surcharge or any form of penalty shall be applied on any local tax, fee or charge accruing on or due and demandable during the extension period.

The question now at hand is whether Republic Act 11469 and DC 002-2020 will suffice to authorize extension of local tax deadlines without the enactment of an LGU’s local tax ordinance?

In a case promulgated on October 25, 2005, the Supreme Court has ruled that reference to a local tax ordinance is vital, for the power of LGUs to impose local taxes is exercised through the appropriate ordinance enacted by the Sanggunian of the LGU concerned, and not through the Local Government Code alone.

The High Court ruled that what determines tax liability is the tax ordinance, the Local Government Code being the enabling law for the local legislative body.

Apparently, this pronouncement is consistent with the basic principle on the legislative nature of local taxation, which is similar with national taxation. This is likewise consistent with Section 132 of the LGC which vests upon the local Sanggunian of an LGU the power to impose a tax, fee, or charge or to generate revenue through an appropriate ordinance.

Note that the LGC requires an ordinance and not merely a resolution.

Mangun. . .

Continued from A6

has never managed to get his approval rating above 50 percent.

The vote in Great Britain to leave the European Union was extremely close, although well within any sort of “margin of error.”

It is critical to know that whatever cosmic forces are at work, the “events” support the cycle, not the other way around. Who in their right mind would have predicted only a week ago that the Covid-19 pandemic would be thrown off the global headlines? Just as there was a flicker of light seen at the end of the economic tunnel in the US, all hell broke loose. And between Covid-19 and US mass protests is the escalation of the “Cold War” between China and US, which will exacerbate global

In GR 156684, the Supreme Court has ruled that the terms ordinance and resolution are not synonymous.

An ordinance is a law, but a resolution is merely a declaration of the sentiment or opinion of a lawmaking body on a specific matter. An ordinance possesses a general and permanent character, but a resolution is temporary in nature.

Going through existing jurisprudence and the provisions of the LGC, which is the mother law of all our local tax laws, the requirement on the enactment of an ordinance on the imposition of taxes or enactment of a revenue measure is clear.

However, for the sole purpose of extending tax payments without the imposition of a new tax measure, is the enactment of an ordinance likewise required?

To my mind, logic dictates that enactment of a revenue measure carries with it the determination of timeline within which to collect the revenue. Ergo, it may be argued that the timeframe within which to collect local taxes requires the enactment of an ordinance by the concerned local Sanggunian. Consequently, the extension of time for collecting the said taxes must likewise be authorized through an ordinance. This is in fact consistent with the provision of Section 167 of the LGC of 1991, which provides that the Sanggunian concerned may, for a justifiable reason or cause, extend the time for payment of taxes, fees, or charges without surcharges or penalties.

Truly, the extension of local tax deadlines under RA 11469 and under DC 2-2020 has given taxpayers a great sigh of relief. However, consistent with the provisions of the LGC and existing jurisprudence, it would be on the best interest of the taxpayers if LGUs would be able to enact an ordinance in their respective territorial jurisdictions echoing the government’s directive to extend local tax deadlines.

The author is a partner of Du-Baladad and Associates Law Offices (BDB Law), a member-firm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at rodel.unciano@ bdblaw.com.ph or call 8403-2001 local 140.

economic problems.

Unfortunately, do not think for a moment that the economic chaos has peaked. It is going to get even more intense, if not on the front-page at least behind the scenes. France and Germany are going to an “economic war” as we speak.

French President Emmanuel Macron is trying to kill Germany’s automobile production by pushing new climate change regulations. Further, he announced an €8 billion plan to make France the top producer of “clean vehicles” in Europe. Germany will not “surrender.” More of this chaos is coming in the months to come. Twenty-twenty has just begun.

E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

A

nother pandemic is gripping across the US. It’s not a lethal disease but a racial tension, which is destroying the social and moral fabric of America, marked by massive protests across the country. It is caused by inequality, discrimination and disenfranchisement of its black population. The recent death of George Floyd, a 46-year-old black American, at the hands of four police officers that arrested him, has triggered the current conflagration.

A video taken by onlookers showed three police officers kneeling over Floyd, with one pinning his knee on Floyd’s neck while the latter was pleading that he could not breathe.

A fourth cop merely watched as the gruesome act was taking place. It was a surreal scene showing police brutality over an unarmed man who was already handcuffed and fallen to the ground. Outbreaks of demonstrations that started in Minneapolis where the arrest occurred erupted in several big cities all over the country. Anger and pain were painted on the faces of the protesters in St. Paul, Denver, New York, Atlanta, Los Angeles, Houston and many other places. Even the White House was forced to have a brief lockdown when hundreds of demonstrators milled in front of the President’s official residence. In some areas, violence

exploded. Protesters vent their ire by setting fires on buildings, smashing windows and burning cars. The Minneapolis Police Department 3rd Precinct, which is the closest police station to the place where Floyd’s arrest took place, was burned down to the ground. A demonstrator was caught on camera saying, “This is what we’ve got to do to have our voice heard.” In Minneapolis, the epicenter of the protests, more than a thousand marchers defied the curfew with crowds of people chanting and shouting alongside the roads.

The CNN reporter commented that during the curfew everyone was present except the police. Vandalism and criminality such as looting, arson and killing should not accompany the protest actions. A police officer was almost run over by a car in Detroit while protesters in New York clashed

Tuesday, June 2, 2020 A7

with the police. They are serious offenses against civil society, which no government should tolerate. It’s true that civil protest is a healthy sign of democracy but authorities should be able to draw the line between legitimate mass action and hooliganism. Black lives matter but the blacks must also show that they are deserving and worthy to have a seat on the table.

No doubt, there is anarchy in the US. With the US Presidential election coming up within the next five months, I hope that this chaos will not be politicized. We don’t want any ideologue to weaponize race as a tool to rule the government.

America needs a president who can pursue and implement America’s unfinished business that black lives really matter. It does not need one who throws gasoline around while its cities burn. No doubt, President Donald J. Trump’s incendiary remark that “when looting starts, shooting starts” only fanned the fire. A far cry from the improvised speech that Robert Francis Kennedy delivered in a black ghetto in Indianapolis before the tension-filled and wailing black audience shortly after Martin Luther King, Jr. was assassinated. RFK was supposed to deliver his usual fiery campaign speech to win his party’s presidential nomination in 1968 when he was told about MLK’s killing. Despite being warned of possible riots and genuine concern for his own safety if he announced MLK’s assassination, he canceled his campaign speech and instead

What if we can avoid a second wave?

Lionel Laurent

BLOOMBERG

T

he story of Covid-19 has been pretty bleak, from the scale of the novel coronavirus’s death toll to the pain of draconian lockdowns imposed by, in many cases, unprepared and under-resourced governments.

But several weeks after the tentative lifting of tough stay-at-home restrictions in several major European countries, there are reasons to be optimistic about the risk of a second wave of cases—with a dose of appropriate caution.

In France, the government is forging ahead with the reopening of bars, restaurants, museums, parks and crosscountry travel after the first phase of “deconfinement” went much better than expected. The daily increase in cases here averaged around 0.5 percent last week, according to Bloomberg data, and the virus’s basic reproduction rate is below 1, according to the French government and other estimates based on hospitalizations.

Elsewhere, Italy, Germany and Spain have also avoided serious flareups in cases and deaths as restrictions are eased. It’s similar in Austria and

Denmark, which lifted lockdowns back in April. Weekly confirmed cases show the continuation of a declining trend.

That’s despite people going out and about once again, albeit with facemasks and hand gel, and a stay on big-crowd events for now.

Retail and recreational footfall in these countries, which was near zero during the lockdown, has recovered to around 50 percent below the pre-crisis baseline, according to Google data. In parks and public spaces, it’s back to normal. Consumers are even booking flights again. Visions of a radically new society emerging from the rubble of Covid-19 may have to be rethought.

There’s no consensus yet on why things are going relatively well. Some experts say the virus itself may have changed, possibly weakened by the summer heat or mutating into a more

benign form. Society has changed, too. More social distancing, more hand-washing and more tools such testing and contact tracing are proving their worth.

Whatever the reason, doctors are increasingly voicing relief and optimism.

“Of course, we shouldn’t lower our guard.... But right now, it’s as if the epidemic was behind me,” French medical professor Frederic Adnet said last week.

On Friday, Christian Drosten, a virologist at the Charite University Hospital in Berlin, told Der Spiegel he was confident the outbreak could be kept under control without another lockdown: “There is theoretically a possibility that we can forego a second wave.”

None of this means that the virus has disappeared. Areas such as Latin America are still being hit hard. The World Health Organization says the strength of the virus in the developing world indicates we are globally still in the first wave, rather than past it.

Nor does it make sense for all countries to lift restrictions to the same extent. Scientists in the UK, where daily case growth has been higher than in neighboring countries, have expressed concern about curbs being eased too fast.

It’s pretty unlikely we are anywhere near herd immunity, and if the virus is a seasonal one, a return in the winter months can’t be ruled out.

Still, countries in Europe are proving they can return to some semblance of normal life while containing the

Will it feel safe to fly this summer?

By Chris Bryant Bloomberg Opinion

C

ovid-19 became a pandemic because airplane passengers carried the new coronavirus with them around the world. As that became clear, airlines grounded nearly all of their fleets, governments issued travel restrictions and mandatory quarantines, and tourist attractions and conferences closed down. With no reason to fly, a quick recovery for air travel seemed unlikely. Warren Buffett even dumped his airline stocks, claiming that the “world has changed.”

Passengers also wouldn’t feel safe packed inside a metal tube for hours, would they?

Happily for the industry, if not for the climate, the seemingly insurmountable barriers to air travel have begun to look less daunting. “We believe the worst is behind us, and we’re on the uptick,” American Airlines Group Inc.’s boss, Doug Parker, said after a surge in

travel over the US Memorial Day holiday weekend.

Investors have taken notice. The Bloomberg Americas Airlines stocks index has rebounded by almost onethird from the mid-May low, and European carriers have made similar gains.

Shares in German tour operator Tui AG have risen too.

Such optimism feels jarring when airlines, American Airlines included, are poised to cut thousands of jobs. Most are still burning huge amounts of cash.

Deutsche Lufthansa AG needs a €9 billion ($10 billion) bailout, and Latam Airlines Group SA joined Latin American peer Avianca Holdings SA in filing for bankruptcy last week.

But Parker is probably right to expect a continued recovery, at least on domestic and short-haul routes. This won’t be enough to put debt-laden airlines on a secure footing, and a full demand recovery probably won’t happen for a couple more years. But, right now, a desperate industry will take any good news it can get. The

rigorous hygiene measures airlines have announced should go a long way toward restoring passenger confidence.

European budget carrier Ryanair Holdings Plc. expects to operate at 40 percent of normal capacity from July, and the way bookings are shaping up suggests those planes will probably be at least half full. EasyJet Plc sees “encouraging” trends and notes that winter bookings are higher than usual for this time of year, although part of that may be because people have refund vouchers to use and are rebooking canceled trips.

Ryanair’s extensive summer flight schedule had seemed premature a couple of weeks ago, but the travel restrictions that kept Europeans from moving around the continent are being relaxed.

Starting in July, Spain is set to drop its requirement for international arrivals to quarantine for 14 days. Britain imposed a similar rule but is under immense pressure to abandon it. Travel between Europe and the US will take longer to open

delivered a short but impassioned remark. RFK admonished the crowd to “replace that violence, that stain of bloodshed that has spread across our land, with an effort to understand with compassion and love.”

And quoting the Greek playwright Aeschylus, RFK said: “Even in our sleep, pain which cannot forget falls drop by drop upon the heart until, in our own despair, against our will, comes wisdom through the awful grace of God.” As tension boils over and national outrage spills around the country, Americans should bring RFK’s words to mind and restore sanity in the wake of this havoc. RFK is a truly great American whose life was also snuffed by an assassin’s bullet some two months after MLK’s death.

More than 50 years have passed since the enactment of the 1964 Civil Rights Act signed into law by President Lyndon Baines Johnson, it seems there has been very little progress made on that front. Many white Americans still hold in contempt the blacks, yet every election year politicians courting the black votes make promises to improve their lot. Americans have the opportunity to effect real change in the US come November 3, 2020 if they truly care for their country. Blacks should go out and vote instead of creating chaos in the streets. More than ever, now is the time to elect a more solid and stable president who will pursue the American dream of unity, peace and progress where every life matters regardless of color, sex, creed or station in life.

virus’s spread, and this is a very positive development. We’re far better prepared to contain “super-spreader” events than at the beginning of the epidemic, when the virus thrived below the surface.

Earlier this month, more than 100 infections were traced to a service in a German church, which closed its doors as a result.

And economic activity is recovering, as captured by the quite rational rally in financial markets. Bank of America analysts expect key indicators to point to an expanding euro-zone economy by September at the latest.

If infections from the novel coronavirus or another one like it do spike again, we will have had more time to keep researching existing drugs for possible treatments, as well as working on the more distant goal of a vaccine.

The extra resources being poured into testing, medical research and hospitals should help us avoid the worst of both worlds—high excess deaths and blanket, economy-killing lockdown measures— even if cases climb.

The scenario of this virus simply disappearing, perhaps in the way the 2003 SARS disease did, remains a dream.

Pandemics usually end when there aren’t enough people left to infect, or when human intervention—through vaccines, or brute-force measures such as isolation or quarantine—scores a decisive victory. We’re not there yet. But the feeling of getting closer is palpable, and worth relishing.

up, but even here there are encouraging signs of political will to get people flying again.

A month ago, United Airlines Holdings Inc.’s chief executive officer, Scott Kirby, lamented that there wouldn’t be a recovery in flying until attractions like Disney World or the Paris museums were open again.

Well, they will be soon. It’s already possible to visit the Acropolis in Athens and St Peter’s Basilica in Rome. Paris’s parks and museums are set to reopen from June. The French capital is usually swamped with tourists at this time of year, so there’s an incentive for travelers to get there first. Walt Disney World expects to reopen its Florida park from July, albeit with compulsory face masks and a ban on hugging your favorite Disney character.

I’ve written before about how things like wearing masks and having to ask permission to use the toilet will make flying even less enjoyable. But these measures may make passengers feel safer.

A8 Tuesday, June 2, 2020

Emergency powers vs Covid extended?

S

ENATORS on Monday firmed up a consensus backing the extension of President Duterte’s emergency powers to allow him to continue steering the nation’s response to the Covid-19 pandemic.

Emerging from a caucus, Senate President Vicente Sotto III said, “I can live with the idea [of extension], but it is up to the majority [to decide]” if an extension is requested.

This, even as senators have yet to get a clear signal from Malacañang that an extension is needed, while legislators from both chambers are rushing the second phase of the Bayanihan To Heal As One Act. They passed the original measure in March to give the President spending authority for dealing with Covid by allowing a realignment of the 2020 budget.

“Are we sure he will call a special session?” Sotto wondered aloud, referring to last week’s pitch by House leaders for the Executive to call one, so that Congress can pass other Covidrelated measures such as the economic recovery and stimulus bills.

“If a special session is called, we won’t mind coming back,” Sotto said after the caucus.

Both chambers adjourn on June 5 and won’t be back until the State of the Nation Address in late July. They have repeatedly been urged by Finance Secretary Carlos Dominguez III to pass the Corporate Income Tax and Incentives Rationalization Act (Citira)—now renamed as CREATE bill for Corporate Recovery and Tax Incentives for

Enterprises Act—which cuts corporate income tax by 5 percent on the first year of implementation, and rationalizes fiscal incentives. Dominguez said passing this measure is the “best stimulus” for an economy pummelled by the pandemic.

During Monday’s caucus, Minority Leader Franklin M. Drilon raised the point that the President’s emergency powers will cease on adjournment.

“A simple one-line extension can do; we are treating it as a new emergency given the Palace proclamation,” said Finance Committee Chairman Sonny Angara.

For his part, Sen. Panfilo Lacson did not rule out the possibility that “someone can question [the extension] and raise constitutional grounds.” He indicated that Congress may need to enact a law granting the President authority to continue exercising special powers to deal with Covid-19.

Earlier, Sen. Francis Tolentino said “we’re all for passage of the bill to allow the economy to recover,” and suggested that the matter be taken up in caucus.

Last Friday, at the Senate’s videoconferenced hearing of the Finance and Economic Affairs panels, Drilon said the minority would not block another Bayanihan law, but wanted to exclude penal provisions for quarantine violations, saying these undermined the purpose of the law, and needlessly subjected thousands of ordinary civilians to harsh treatment better reserved for criminals. Butch Fernandez

RIDGE OF HIGH PRESSURE AREA EXTENDING OVER NORTHERN LUZON EASTERLIES AFFECTING THE REST OF THE COUNTRY as of 4:00 am - June 1, 2020

House OKs ₧1.3-T ARISE bill for jobs protection, stimulus

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By Jovee Marie N. dela Cruz

@joveemarie

HE proposed P1.3-trillion Accelerated Recovery and Investments Stimulus for the Economy (ARISE), which will be used to mitigate the impact of Covid-19 on the country, is now inching its way to become a law.

This after the House of Representatives approved on Monday on second reading the proposed or the House Bill 6815.

The lower chamber is targeting to approve the bill on third and final reading this week as lawmakers are eyeing to extend their session on Thursday. Based on the calendar of session, the chamber is set to take a sine die adjourment on June 3, Wednesday.

House Committee on Ways and Means Chairman Joey Sarte Salceda, one of the principal authors of the proposed ARISE, said the funding for this economic stimulus will

be sourced from the Department of Finance through the Bureau of the Treasury, government financial institutions and government-owned corporations as well as bonds.

Salceda also said the bill grants the President to realign within six months items that cannot be utilized due to Covid such as travel and forced savings.

The bill also extends the validity of the 2019 and 2020 General Appropriations Acts to 2021.

It also extends the power of the Bayanihan to Heal as One Act, particulary the provisions on testing, wage subsidies, DOLE’s TUPAD, loan payment extension, assistance of DTI and DA, ease of credit rules, health protocols to mitigate transmission, reallocation and realignment of appropriations.

The measure creates an Economic Stimulus Board and Economic Resilience Plan to include required investments in health, digital infrastructure, and database to withstand economic shocks.

The bill also condones the loans of agrarian reform beneficiaries to enhance access to credit facilities.

Moreover, the proposed ARISE, which is an employment protection stimulus for 30 million workers, will include:

■ P10 billion for massive testing this year and another P10 billion next year. This will boost consumer and business confidence ■ P110 billion wage subsidy for the period of two months. This payroll expense subsidy, requires employee retention to qualify for subsidy. This will include self employed, freelancers and overseas Filipino workers (OFWs) ■ P25 billion for cash for work of the Department of Labor and Employment this year. This seeks to help 3 million beneficiaries at P10,000 each. Also, P5 billion will be alloted as assistance to the technical and vocational learners.

■ A total of P42 billion educational subsidy ■ P50 billion for Small Business Corp.’s (SBCorp) existing loan programs for MSMEs this year and another P25 billion next year ■ P50-billion program for SME and agri-fishery this year under the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines’s (DBP) Interest-Free Loan Program ■ The loan guarantee program by the Philippine Guarantee Corp.

(PGC) shall have an allocation of P20 billion this year and another P20 billion next year. An amount of P20 billion is appropriated as additional paid-up capital of PGC. ■ P10 billion to DTI as additional assistance to MSMEs this year. This seeks to help 1 million establishments ■ P58 billion to the Department of Tourism (DOT) as assistance to the tourism industry this year.

■ P70 billion to the Department of Transportation (DOTr) as assistance to the transportation industry this year.

Continued on A4

DepEd says it’s ready; opens OBE, ‘Brigada’

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HE Department of Education (DepEd) is determined to have learners continue their education following the successful kickoff of “Brigada Eskwela [BE]” and “Oplan Balik Eskwela [OBE]” on Monday (June 1).

If last year the enrollment was over 27 million, Undersecretary Jesus Mateo is hoping to have these learners continue their education amid the Covid-19 pandemic.

“But given the current condition and concern of some parents this [over 27 million enrollees] might change. We hope with the combined efforts of stakeholders and partners we can bring them all to continue their education,” said Mateo, who is undersecretary for Planning, Human Resource and Organizational Development, and Field Operations.

Late enrollees

MATEO said the schools will still receive late enrollees for as long as they meet the rule of not missing more than 20 percent of the total school days.

The DepEd reiterated that parents and students need not to go to school to enroll, in compliance with the health standards of the Department of Health (DOH) and Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF).

Parents of incoming Grade 1 to 12 learners will be contacted by their previous advisers for the remote enrollment or vice versa.

The DepEd added that in every school there are assigned enrollment focal person (EFP) to receive and answer any inquiries on kindergarten, transferees, Balik-Aral, and ALS learners. The DepEd field offices will also issue a list with contact information of the schools.

For his part, Undersecretary Nepomuceno Malaluan, also Chief of Staff of the Office of the Secretary, said that they will issue an advisory for those who will not be able to enroll.

Continued on A4

No fun at all: Travelers, including OFWs, wait hours under new rule

By Recto Mercene @rectomercene

T

HE management of the premier airport was swamped with complaints on Sunday and Monday from irate overseas Filipino workers (OFWs), including other travelers.

Most of their lament focused on allegedly inefficient transport service provided by the Philippine Coast Guard (PCG) buses.

The buses were supposed to bring the OFWs to designated quarantine hotels or other places provided by the Department of Tourism for other travelers while waiting for the results of the swab test.

A Filipino passenger from New York City who came in via Incheon, South Korea, on board flight KE 623 arrived at the Ninoy Aquino International Airport (Naia) around 10 p.m. Sunday.

She said she boarded the PCG bus past 6 a.m. Monday “after eight hours of waiting.”

“That is a very long wait for us who can’t even sit because there are limited chairs available,” said the passenger who asked not to be named.

“We waited for over eight hours after submitting the yellow health card to the quarantine personnel

who guided us to the swab testing booth, then to the immigration counters for stamping of our passport, then they guided us to the airport lobby where we waited for the PCG bus to arrive.”

The bus driver’s excuse was that they are also servicing the Naia Terminal 2, “that is why we are late, we are supposed to arrive 10 p.m.

Sunday and here we are at 6 a.m.

Monday.”

The PCG and Department of Labor and Employment (DOLE) officers told non-OFWs that they can take the Naia yellow taxi for Department of Tourism (DOT)designated hotels.

“But nobody from the DOT or even from the airport could tell us the location of the hotels, even if we have to shoulder the taxi fare and hotel accommodation.”

The Sub-Task Group for the Repatriation of OFWs and returning Filipinos had announced that starting June 1, 2020, all OFWs, Filipino seafarers, and overseas Filipinos who will arrive at Naia will have to undergo home quarantine after undergoing swab test administered at the airport, provided that:

1) They are residents of the National Capital Region (NCR); and 2) They will be picked up at the airport by one family member or

driver with a proof of NCR residency.

They shall remain in isolation in their respective homes, following stringent health protocols while waiting for the result of their RTPCR testing for Covid-19.

Some Filipino domestic passengers who bought air tickets for June 1 scheduled flights were dismayed upon arrival at the airport because their flights to Bacolod and Cagayan were canceled.

“We have been staying in Manila since the enhanced community quarantine in March.”

Annabelle Sato, a passenger bound for Narita, Japan, was also dismayed upon learning that her flight to Japan was also canceled. “I have been stranded here in Manila for almost three months, I wanted to see my kids and I am almost penniless.”

Meanwhile, airport chief Ed Monreal said they are quickly working to develop a safe environment for the return of air passengers.

“We are sanitizing our facilities in expectations of more passengers arriving in the coming days.”

He said they have installed protective barriers separating passenger and airline staff at the counter and hope that the protocols established by the inter agency task force would be obeyed “by airport employees and airline passengers.”

www.businessmirror.com.ph

Companies BusinessMirror

Tuesday, June 2, 2020

B1

Phoenix posts ₧215-M loss in tough Q1

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By Lenie Lectura

@llectura

hoenix Petroleum posted a net loss of P215 million in the first quarter, a reversal from the net income of P415 million it posted in 2019, as revenues dipped by 9 percent.

The company reported an EBITDA of P503 million at end-March this year, from P1.4 billion in the prior year.

The independent oil player said Monday that the first three months of the year was challenging mainly on account of the volatility in oil markets driven by geopolitical ten-

sions and the Covid-19 pandemic.

“We were not spared but we were able to navigate the downturn better because of our earlier investments in strategic, higher margin areas such as retail and LPG [liquefied petroleum gas].

Our portfolio today is more diversified, with LPG particularly

thriving in this pandemic. From a nonessential item in the kitchen, LPG became an essential household product, especially during the enhanced community quarantine [ECQ],” said Phoenix Petroleum CEO Dennis Uy. LPG volume surged 39 percent due to the consistent double-digit growth in its core Visayas-Mindanao market and the sustained expansion in Luzon.

Retail volume was higher by 9 percent as Phoenix builds on the progress of its network expansion in 2019. As end-March this year, 660 stations have been opened nationwide.

Commercial sales volume, however, was down 10 percent.

Phoenix said the growth in retail and LPG cushioned the slowdown in

the commercial sales segment as a number of customers were affected by the eruption of Taal Volcano in January.

The oil company said it is focusing on keeping people safe, maintaining business-as-usual operations and preserving resources amidst the pandemic.

It has in fact kept inventory levels at 50 percent of terminal capacity, which reduced the burden on working capital. Cash requirements were reduced by at least P2.3 billion this year versus original 2020 plans. Of this amount, P1.5 billion is from capital expenditure reduction and P800 million are savings from marketing, advertising, and travel as resources are shifted from traditional channels to digital.

“We support and admire every-

AllHome income doubles in 2019 A

llHome Corp., the retail arm of the Villar group, said its income last year doubled to P1.1 billion, from the previous year’s P511.4 million, mainly as a result of its aggressive store expansion in the months leading to its initial public offering.

Total revenues rose 68 percent to P12.1 billion, from P7.2 billion in 2018, the company said.

“As we have previously mentioned, the home improvement industry in the Philippines is still underpenetrated and we are tak-

First Metro names new president

F

irst Metro Investment Corp., the investment banking arm of the Metrobank Group, on Monday has announced the appointment of Jose Patricio Dumlao as its new president and director.

Dumlao replaces Rabboni Francis B. Arjonillo, who was appointed to the position in January 2016.

Dumlao is an experienced investment and commercial banker, the investment bank said.

Prior to joining First Metro in January this year as executive vice president, he was the country manager of BNP Paribas Manila Offshore Branch.

“Pat’s vast experience and wealth of knowledge in investment banking and the financial markets, in both the domestic and regional fronts, would be most useful in this challenging but interesting business environment,” said First Metro Chairman Francisco Sebastian.

“We are confident that he is the right fit to lead First Metro as we continue to fulfill our mission as a prime mover of capital, while pursuing a new level of growth and development for the company.”

Earlier in his career, Dumlao worked as an investment banking officer at ANSCOR Capital and Investment Corp. and later on became head of investment banking at Corporate Investment Philippines Inc. Dumlao holds a BS Management Engineering degree from the Ateneo de Manila University. VG Cabuag

ing advantage of such by aggressively opening AllHome to more locations across the country,” said Manuel B. Villar Jr., company chairman.

The company’s total assets as of end-2019 stood at P19.7 billion, higher than the P8.2 billion in the previous year.

Last year, the company added a total of 22 new stores, bringing total stores to 45, of which 22 are large mall-based, 10 are large freestanding and 13 specialty stores.

The company said it intends to

increase its customer base by introducing store formats that will cater to the needs of the communities where it plans to open.

Camille A. Villar, the company’s vice chairman said AllHome, being retail in nature, is exposed to the risk of a disrupted supply chain and its potential impact on its inventory levels due to the Covid-19 pandemic.

“However, AllHome’s debut on the stock market gave AllHome added financial security to fund our needed inventories for our

new stores,” she said.

“AllHome’s top priority is the health and safety of its employees and customers, and measures are strongly being implemented to ensure the same. We believe that the home improvement industry will bounce back as soon as the lockdown is lifted as there will be pent-up demand after staying at home for almost three months,” she said.

AllHome went public and was listed on the Philippine Stock Exchange in October last year. VG Cabuag

Exec refutes allegations against ABS-CBN

By Jovee Marie N. Dela Cruz @joveemarie

A

fter being accused of violating the 1987 Constitution, ABS-CBN Corp. on Monday debunked all allegations against the broadcasting network, including foreign ownership and questions about the citizenship of its chairman.

During the joint hearing of the House Committee on Legislative Franchises and Committee on Good Government and Public Accountability, ABS-CBN President Carlo Katigbak told lawmakers that the company has remained compliant with the Constitution.

Katigbak said former Chairman and President Eugenio “Gabby” Lopez III is a natural-born Filipino citizen by virtue of his being born to Filipino parents, specifically his father, in 1952, consistent with the 1935 Constitution.

“The Bureau of Immigration [BI] recognized this in its order dated April 25, 2001. This was subsequently affirmed by the Department of Justice on August 6, 2001,” he said.

Katigbak also said the Philippine Depository Receipts (PDR) issued by ABS-CBN Holdings Inc., has been cleared and upheld as legal by the Securities and Exchange Commission (SEC) on October 4, 1999.

He noted that ABS-CBN Holdings Inc. is “a totally different entity” from ABS-CBN Broadcasting Inc. which holds the congressional franchise of the frequencies. Katigbak said this set up is similar to that of GMA Network.

“A PDR is not a share in ABS-CBN. PDR holders cannot vote on any ABSCBN matter because they do not hold shares in ABS-CBN,” he said.

On franchises being limited to a total of 50 years, Katigbak reiterated that the maximum 50 years is for a single-term franchise and not the total limit of any single public utility franchise, saying this is the reason that others—such as GMA-7 and Meralco—have franchises going beyond 50 years.

“The 50-year limit applies to each grant or renewal of franchise.

There is no limit to the number of

franchises that can be granted to a company overtime,” he said. On the issue that ABS-CBN was given to the Lopez family for free after the EDSA revolution in 1986, Katigbak said the company was never transferred to the Marcos government.

“The Lopez family never gave up ownership of ABS-CBN. It was never sold nor was ownership ever transferred.”

He said the broadcast facilities were used by Roberto Benedicto’s KBS/RPN and the Banahaw Broadcasting Corp., then later by the government’s PTV-4 until both had their own facilities in Broadcast City and Visayas Avenue, respectively.

For his part, Cagayan de Oro Rep. Rufus Rodriguez said allegations regarding the citizenship of Gabby Lopez and the PDRs "have no basis in law.”

“First, Mr. Eugenio Lopez III is born to Filipino parents. DOJ [Department of Justice] and BI have both recognized this. The second issue is PDRs. It does not give PDR holders ownership of share. The SEC has issued permit. Therefore there is no truth in the allegations,” he said.

‘End is near’

In the same hearing, Solictor General Jose Calida said ABS-CBN PDR grants beneficial ownership to the PDR holders based on the rights conferred upon them.

“Indeed, the ABS-CBN PDR has provided for a creative mechanism to indirectly own the underlying ABSCBN shares of stock, but no matter how creative, the resulting end remains that enables non-Filipino to beneficially own a media conglomerate, the ABS-CBN Corp,” he said.

“The countenance this practice is a looming threat to our sovereignty which the Constitutional safeguards aim to protect,” he added.

Also, Calida said ABS-CBN was not authorized to use free-to-air signals for its KBO Channel. He said ABS-CBN charges P30 from the viewing public to be able to watch the movies and other content in the KBO Channel without obtaining prior approval from the National Telecommunications Commission (NTC).

Calida also said ABS-CBN violated the nature and scope of its franchise when it allowed another entity, ABSCovergence, to “make use and abuse” its legislative franchise.

The hearings on the bills granting ABS-CBN new franchise will resume on Wednesday.

Also, Calida used “the end is near” line from the iconic Frank Sinatra classic, “My Way,” to warn that there’s no way his office would allow ABSCBN Corp. to resume operations after committing “too many violations” of the Constitution and its previous franchise. “ABS-CBN has committed too many violations which went unnoticed and unpunished. But we are determined to root out such illegal practices,” said Calida.

“ABS-CBN is motivated not by service but by greed and a desire for power and influence. Their brazen acts must come to an end. The hour of reckoning may have been delayed, but it has now come.”

He also denied meddling with Congress when he advised the NTC not to grant ABS-CBN provisional franchise that will allow the network to broadcast while the renewal of its legislative franchise remains pending. The NTC eventually issued a cease and desist order against ABSCBN after its legislative franchise expired last May 4.

Calida, who earlier filed a quo warranto case against ABS-CBN before the Supreme Court, said he was “not at loggerheads with Congress” as he merely cautioned the NTC of its possible encroachment on the legislative power.

In explaining his absence during the previous hearing, Calida invoked the principle of sub judice in light of his quo warranto case and the petition for certiorari and prohibition filed by ABS-CBN before the Supreme Court. For his part, NTC Commissioner Gamaliel Cordoba again apologized to Congress for the “confusion” caused by the closure order against ABS-CBN even as he maintained that the agency merely followed the law, which provides that a broadcasting company can only operate in the country if it has a legislative franchise.

one—from individuals and families to the small businesses and large corporations—who are contributing their efforts and resources in this critical time of need,” said Uy, who added that Phoenix has committed P100 million for Covid-19 relief efforts nationwide.

“While market conditions are tough and uncertainties remain, we are committed to serving our customers, partners, communities, and our country even more than ever.”

The company has also announced that it has a new president.

Former chief operating officer, Henry Albert “Bong” Fadullon, was elected as the company’s new president effective June 1.

He was elected to the position shortly after the Annual Stockholders’ Meeting last May 29 where he

was likewise elected as a new member of the Board of Directors for 2020-2021.

Fadullon succeeds Uy, Phoenix founder and former CEO. Uy will now assume the role of Chairman of the Board of Directors and Chief Strategy Officer who will be actively involved in the company’s long-term strategy and represent the company.

Former Chairman Domingo Uy, meanwhile, remains in the company’s Board of Directors and as Chairman Emeritus.

“I am confident that as the second and new President of Phoenix Petroleum, he [Fadullon] will continue to build the company into a dynamic, world-class brand with a professional and progressive corporate culture and discipline,” said Uy.

Cebu Landmasters income dips in Q1

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ebu Landmasters Inc., (CLI) a listed regional property developer, said its income in the first quarter declined by 8 percent to P648.5 million, from last year’s P701.6 million.

In the January-to-March period, CLI revenues grew 13 percent to P2.1 billion from last year's P1.86 billion, as real estate sales rose.

The increase in revenue was driven by sales from various segments and sustained construction of new developments alongside growing contributions from its expanding recurring business, the company said.

“We expect demand for quality housing and residential units to rise prompted by the greater desire for safer and better planned living environments in the aftermath of Covid-19," said Jose R. Soberano III, the company chairman and CEO. “Over the years, CLI has built a reputation for offering great value to its buyers and is ideally positioned to serve this rising demand.”

In the first five months of the year, the company registered P4.8 billion in reservation sales take-up, which approximates the P5.26 billion recorded in the first half of 2019.

Its economic housing brand Casa Mira drove the P2-billion sales in April and May, a period widely regarded as having little economic activity due to the implementation of lockdown

measures to contain the spread of Covid-19.

Over-all, CLI’s unsold inventory is down to only 10 percent of total inventory, it said.

The company said it will still launch projects worth some P19.4 billion this year as the housing backlog is evident in the Visayas and Mindanao.

The company said it is expecting a performance guidance of a growth of about 10 percent from the previous year.

To fund these expansions, the company said it has secured P8 billion worth of corporate notes and several bilateral facilities with major banks, tailored per project.

CLI’s incremental cost of borrowing is between 3.8 percent to 4.2 percent for 5-, 7- and 10-year tenors.

“CLI is moving forward with both prudence and conviction. We will still be launching over 13 projects total this year, especially in key segments with sustained demand including economic vertical and horizontal housing," the company said.

“VisMin will recover faster, as restrictions have eased sooner with strong measures in place. There is sustained demand amidst a low supply environment in key Vismin cities, as evidenced by our P2 billion sales take-up over April to May.” VG Cabuag

PSE reopens trading floor

The Philippine Stock Exchange (PSE) reopened its trading floor on Monday after more than two months of offsite trading due to lockdown measures put in place by the government to contain the spread of Covid-19. The PSE requires all persons inside the trading floor to observe health and safety guidelines for the workplace prescribed by the government, such as the wearing of face mask at all times. NONIE REYES

T

he Philippine Stock Exchange Inc. (PSE) had a special bell ringing ceremony on Monday to mark the reopening of its trading floor.

The PSE implemented a full offsite trading from March 19 to May 29 in compliance with the enhanced community quarantine (ECQ) guidelines of the InterAgency Task Force (IATF) for the Management of Emerging Infectious Diseases. Trading was suspended on March 17 and 18.

Aside from the trading floor’s reopening, the bell ringing also served as PSE’s tribute to frontliners who have been leading the fight against Covid-19.

In his speech during the event, PSE President and CEO Ramon S. Monzon said, “We notified the Securities and Exchange Commission [SEC] of our reopening plans and they gave us the green light very quickly.”

Monzon also commended and expressed gratitude to SEC for its immediate action on the issues and concerns that the Exchange elevated to the Commission during the ECQ and modified ECQ regime.

“Although their offices were closed during this period, it was clear that it was business as usual for the SEC leadership and its staff as they continued to work from home and have their regular Commission

meetings,”he said.

“Consequently, the SEC was able to respond proactively, positively and very timely on our various requests. Thank you very much, Chairman Aquino, for your unprecedented support and your laudable model of public service.”

For his part, SEC Chairman Emilio B. Aquino said the commission will adopt a policy of collaboration and cooperation by opening its line of communication with exchange officials, broker-dealers and other market participants to revive quickly the Philippine capital market.

“I commit as your SEC Chairman to lighten the regulatory requirements for our Issuers, brokers and other market participants. We will consider allowing companies planning to conduct IPOs by supplementing their audited financial statements whose age goes beyond 180 days with only reviewed interim financial statements,” said Aquino.

“We will extend the life of the validity of the order of registration for shelf-registration to five years from the present three years and study the practicality of doing a post-issuance review of financial statements in a follow-on offering.”

B2

Companies BusinessMirror

Tuesday, June 2, 2020

PSE STOCK QUOTATIONS

June 1, 2020

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

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

45.75 98.75 67.4 18.9 6.42 36.85 9.02 21.7 43.6 16.4 89 53.75 0.67 16.1 2.3 0.9 0.285 0.6 163.7

47 99 67.5 19 6.43 37 9.4 21.75 44 16.5 89.7 53.8 0.76 16.2 2.52 1.06 0.305 0.63 170

45.7 99 66.3 18.92 6.39 35.5 9.88 21.75 43.5 16.5 84 53.95 0.67 16.1 2.31 0.95 0.285 0.6 173.9

47.3 99.6 68.45 19 6.45 37.15 9.88 21.9 44 16.7 91.45 54.55 0.67 16.2 2.31 0.95 0.305 0.63 173.9

45.7 96.1 65.55 18.88 6.23 35.5 9 21.6 43.5 16.3 83.5 53.8 0.67 16.1 2.3 0.95 0.285 0.6 170

47 99 67.4 19 6.43 36.85 9.02 21.7 44 16.3 89 53.8 0.67 16.1 2.3 0.95 0.305 0.63 170

8200 4356300 1572310 281900 1998000 3443400 3000 214900 800 21500 5547820 5200 34000 12100 61000 1000 60000 63000 230

385740 428729938.5 105782705.5 5333098 12729084 125785995 27480 4667585 35150 354346 486694543.5 280394 22780 194826 140380 950 17300 37830 39438

371900 7979566.5 27162145 -755306 -3247397 24255415 -2491220 15020 -11689333 -71693.5 -15390

INDUSTRIAL AC ENERGY 2.16 2.17 2.18 2.21 2.15 2.17 1932000 4193950 28 28.1 27.8 28.45 27.2 28 1656600 46315310 ABOITIZ POWER 0.158 0.164 0.16 0.165 0.158 0.165 520000 83010 BASIC ENERGY FIRST GEN 20.6 20.65 20.5 20.95 20.45 20.6 2366800 49011415 FIRST PHIL HLDG 55.1 55.85 54.15 55.95 54.1 55.85 52230 2874640 291.4 292 281.8 293 276.8 292 523770 151910624 MERALCO 11.9 11.92 11.5 11.94 11.5 11.9 1732700 20347600 MANILA WATER PETRON 2.92 2.94 2.97 2.97 2.9 2.92 2133000 6266240 PETROENERGY 2.28 2.43 2.21 2.43 2.2 2.43 22000 48830 11.02 11.28 11.2 11.28 11 11.28 117600 1316576 PHX PETROLEUM 17.58 17.6 17.2 17.74 17.2 17.6 637600 11199570 PILIPINAS SHELL SPC POWER 7.98 8 7.9 7.98 7.89 7.98 68000 538898 14.1 15 12.54 15 12.54 15 3400 49366 VIVANT 7.1 7.16 7.09 7.28 7 7.16 146800 1053737 AGRINURTURE 2.56 2.58 2.54 2.58 2.5 2.56 1124000 2831570 AXELUM CENTURY FOOD 15.2 15.28 15 15.28 15 15.28 770800 11754028 DEL MONTE 4.21 4.5 4.5 4.55 4.15 4.49 16000 70390 4.6 4.77 4.67 4.79 4.5 4.77 3026000 14090510 DNL INDUS 7.83 7.87 7.83 7.87 7.83 7.87 333100 2609804 EMPERADOR 63.7 64.5 63.9 64.65 63.2 64.5 40710 2595990.5 SMC FOODANDBEV ALLIANCE SELECT 0.55 0.56 0.58 0.58 0.54 0.55 524000 286470 1.24 1.25 1.25 1.26 1.22 1.25 4738000 5879340 FRUITAS HLDG 30.15 30.4 30 30.5 29 30.4 49800 1488300 GINEBRA 115.1 117 113 118.7 112 115.1 3567090 412144759 JOLLIBEE MACAY HLDG 6.3 6.78 6.21 6.8 6.21 6.8 3200 20428 5.55 5.56 5.55 5.56 5.54 5.55 1158400 6428892 MAXS GROUP 1.88 1.89 1.9 1.9 1.86 1.88 58000 108830 PEPSI COLA 6.07 6.08 5.91 6.1 5.8 6.07 260700 1551708 SHAKEYS PIZZA ROXAS AND CO 1.84 1.85 1.81 1.85 1.79 1.84 2044000 3708180 RFM CORP 4.26 4.5 4.27 4.5 4.27 4.5 4000 17540 1.35 1.41 1.33 1.39 1.3 1.35 98000 130170 ROXAS HLDG 0.104 0.114 0.103 0.103 0.1 0.1 2500000 252760 SWIFT FOODS UNIV ROBINA 132.2 132.5 130 135.7 128 132.5 2517110 335152949 VITARICH 0.78 0.79 0.78 0.79 0.77 0.79 11635000 8978110 1.07 1.08 1.06 1.08 1.05 1.08 3968000 4228260 CEMEX HLDG 8.22 8.23 8.24 8.24 8.2 8.23 78400 645161 EAGLE CEMENT 4.61 4.62 4.48 4.74 4.45 4.62 2617000 12066400 EEI CORP HOLCIM 7.6 7.68 7.68 7.76 7.5 7.6 669100 5139240 MEGAWIDE 5.18 5.19 4.89 5.18 4.88 5.18 6747000 34164240 8.3 8.77 8.5 8.77 8.5 8.77 1300 11131 PHINMA 0.73 0.76 0.74 0.77 0.72 0.76 40000 29680 TKC METALS VULCAN INDL 0.62 0.63 0.61 0.62 0.61 0.61 148000 91240 120.4 148.4 130.3 130.3 130.3 130.3 10 1303 CHEMPHIL 1.71 1.74 1.7 1.74 1.7 1.74 36000 61240 CROWN ASIA 2.26 2.32 2.2 2.32 2.2 2.31 514000 1165180 EUROMED PRYCE CORP 4.31 4.4 4.4 4.4 4.3 4.4 5039000 21668960 CONCEPCION 23 24 24.4 24.4 24 24 300 7240 1.65 1.67 1.63 1.67 1.59 1.67 4531000 7469260 GREENERGY 5.45 5.5 5.45 5.58 5.31 5.45 46200 249109 INTEGRATED MICR IONICS 1.07 1.1 1.15 1.15 1.09 1.1 340000 375460 1.23 1.24 1.26 1.26 1.21 1.24 1081000 1324320 SFA SEMICON 7.2 7.3 7.15 7.34 7.06 7.2 983700 7063678 CIRTEK HLDG

50040 21524660 -10347210 -852483.5 88062090 -1636374 1071050 -3297980 -34500 26730 183360 4880022 260 -310300 -1951204 251166 39380 942750 -80001752 4429520 495483 603700 20490 -252760 54103869 31200 -66850 -434537 -377010 -15360 2984390 13340 -21668960 -7240 -92570 -9147 319461

HOLDING & FRIMS ABACORE CAPITAL 0.47 0.475 0.48 0.49 0.47 0.47 2610000 1237350 7.87 8.08 8 8.06 7.85 8.06 34800 275590 ASIABEST GROUP 731 747.5 687 747.5 675.5 747.5 1362450 999873345 AYALA CORP ABOITIZ EQUITY 42.9 42.95 40.6 42.9 40.6 42.9 3756700 160425290 ALLIANCE GLOBAL 5.99 6 5.98 6.02 5.97 6 4284400 25701787 1.58 1.59 1.58 1.59 1.57 1.58 1241000 1958380 AYALA LAND LOG 6 6.1 6.2 6.2 6 6 16500 99800 ANSCOR ATN HLDG A 0.57 0.58 0.58 0.58 0.56 0.58 2134000 1217620 0.59 0.6 0.59 0.6 0.59 0.6 619000 367600 ATN HLDG B 4.83 5 5.1 5.2 4.83 4.83 5687100 27896392 COSCO CAPITAL 3.94 3.96 3.95 4.05 3.9 3.94 52828000 208410580 DMCI HLDG GT CAPITAL 383.4 387 370 387 365 387 667170 253004062 HOUSE OF INV 3.2 3.28 3.21 3.25 3.2 3.25 53000 170180 48.6 48.8 48.2 48.95 47.75 48.8 6180700 301188675 JG SUMMIT 0.53 0.55 0.52 0.56 0.52 0.53 77000 41870 LODESTAR LOPEZ HLDG 2.39 2.4 2.5 2.5 2.4 2.4 3502000 8411000 LT GROUP 7.87 7.88 7.78 8.05 7.77 7.88 2373100 18775325 2.88 2.89 2.84 2.89 2.79 2.89 76466000 218975740 METRO PAC INV 2.63 3 2.7 2.7 2.7 2.7 9000 24300 PACIFICA HLDG 0.81 0.82 0.8 0.83 0.8 0.81 1299000 1052650 PRIME MEDIA SM INVESTMENTS 893.5 915 837 915 835 915 1216260 1096838610 SAN MIGUEL CORP 95.3 96 96 96 95 96 152450 14593933.5 0.65 0.71 0.65 0.65 0.65 0.65 21000 13650 SOC RESOURCES 1.79 1.98 1.79 1.79 1.79 1.79 1000 1790 SEAFRONT RES TOP FRONTIER 134.2 135 135 137 134.2 134.2 4010 541382 0.176 0.18 0.177 0.18 0.176 0.176 1120000 197860 WELLEX INDUS 0.137 0.145 0.145 0.145 0.145 0.145 10000 1450 ZEUS HLDG

-232200 356428530 12134830 -11163514 15700 72000 238220 1507064.9996 31069770 -71212004 -122180 -18327595 -3008470 -2930 9212790 242392510 -4671375 -

PROPERTY

ARTHALAND CORP AYALA LAND ARANETA PROP BELLE CORP A BROWN CROWN EQUITIES CEBU HLDG CEB LANDMASTERS CENTURY PROP CYBER BAY DOUBLEDRAGON DM WENCESLAO EVER GOTESCO FILINVEST LAND GLOBAL ESTATE 8990 HLDG PHIL INFRADEV KEPPEL PROP MEGAWORLD MRC ALLIED PRIMEX CORP ROBINSONS LAND PHIL REALTY ROCKWELL SHANG PROP STA LUCIA LAND SM PRIME HLDG VISTAMALLS SUNTRUST HOME PTFC REDEV CORP VISTA LAND

0.5 32.4 1.01 1.36 0.53 0.12 5.98 3.68 0.37 0.265 16.52 6.45 0.105 0.92 0.79 10.06 0.83 3.21 2.95 0.145 1.45 15 0.222 1.43 2.59 1.9 31.75 3.6 1.15 31.55 3.38

0.51 32.55 1.03 1.37 0.54 0.125 6.07 3.69 0.375 0.28 16.58 6.5 0.11 0.93 0.8 10.3 0.84 3.58 2.96 0.146 1.47 15.06 0.238 1.48 2.69 1.98 31.8 3.69 1.17 46 3.39

0.5 32.4 1.01 1.33 0.54 0.125 5.5 3.69 0.375 0.26 16.04 6.3 0.12 0.91 0.8 10.28 0.82 3.65 2.82 0.143 1.48 14.8 0.223 1.48 2.69 1.9 29.8 3.6 1.21 46 3.4

0.51 32.55 1.01 1.37 0.55 0.125 6.08 3.73 0.38 0.26 16.68 6.4 0.12 0.93 0.8 10.3 0.84 3.65 2.95 0.147 1.48 15.04 0.223 1.48 2.69 1.99 31.75 3.73 1.25 46.5 3.42

0.49 31.6 1.01 1.33 0.54 0.12 5.5 3.69 0.37 0.26 16.04 6.3 0.105 0.9 0.8 10.28 0.8 3.21 2.78 0.143 1.47 14.62 0.221 1.48 2.69 1.9 29.5 3.54 1.15 44 3.32

0.51 32.55 1.01 1.37 0.54 0.12 6.07 3.71 0.37 0.26 16.58 6.4 0.105 0.93 0.8 10.3 0.83 3.58 2.95 0.145 1.47 15 0.221 1.48 2.69 1.99 31.75 3.69 1.15 45 3.39

343000 10321300 14000 73000 603000 2320000 126600 187000 4130000 600000 259000 21200 5210000 19026000 34000 3700 1658000 4000 23717000 3450000 101000 4065800 140000 14000 3000 150000 14451000 119000 1555000 1200 3128000

171480 332665055 14140 98900 326170 281950 741403 691850 1537950 156000 4286934 135132 560790 17265350 27200 38090 1347670 14090 68716940 499820 148480 60870556 31070 20720 8070 291110 445632690 433740 1858280 54400 10605650

3500 39831240 8120 392328 -640070 -52000 2896884 -60960 -6387660 32950 3350 21713440.0004 56159.9998 -17577024 103683655 4400 -8419600

SERVICES ABS CBN 15 15.08 14.7 15.2 14.7 15.08 739100 10996932 4.8 4.85 4.88 4.88 4.78 4.8 261000 1257710 GMA NETWORK 0.36 0.375 0.36 0.36 0.36 0.36 10000 3600 MANILA BULLETIN GLOBE TELECOM 2232 2244 2260 2270 2228 2244 38165 85633660 PLDT 1250 1253 1240 1270 1231 1250 109670 136787520 0.046 0.049 0.042 0.049 0.042 0.049 54900000 2494400 APOLLO GLOBAL 2.31 2.32 2.27 2.34 2.27 2.32 41034000 94871630 DITO CME HLDG ISLAND INFO 0.078 0.082 0.078 0.087 0.076 0.082 5430000 441200 NOW CORP 1.7 1.72 1.74 1.74 1.68 1.7 2290000 3897360 0.173 0.175 0.173 0.175 0.171 0.173 530000 91330 TRANSPACIFIC BR 2.22 2.23 2.23 2.23 2.15 2.22 1010000 2225190 PHILWEB 2GO GROUP 9.8 9.9 9.7 10.16 9.5 9.9 170500 1683427 15.72 16 16 16 16 16 23000 368000 ASIAN TERMINALS 3.12 3.13 3.12 3.14 3.08 3.13 439000 1369170 CHELSEA 39.25 39.3 37.8 39.4 37.5 39.25 829200 32314095 CEBU AIR INTL CONTAINER 88.45 88.6 87 89.15 86 88.45 988920 87460293 LBC EXPRESS 13 13.78 13.5 13.8 13 13 1300 17554 0.73 0.8 0.85 0.85 0.8 0.8 9000 7450 LORENZO SHIPPNG 4.71 4.72 4.21 4.74 4.11 4.71 17988000 80955070 MACROASIA 2.43 2.44 2.45 2.54 2.36 2.43 2161000 5251770 METROALLIANCE A PAL HLDG 7.11 7.12 6.92 7.15 6.92 7.11 246100 1741196 HARBOR STAR 0.8 0.81 0.78 0.83 0.78 0.8 232000 187590 0.024 0.025 0.024 0.025 0.024 0.024 16500000 402000 BOULEVARD HLDG 0.37 0.395 0.395 0.395 0.37 0.37 200000 74350 WATERFRONT IPEOPLE 6.56 7.5 7.98 7.98 7.98 7.98 200 1596 0.285 0.295 0.28 0.295 0.28 0.295 1740000 496350 STI HLDG 2.02 2.05 2.02 2.07 2.02 2.07 97000 197200 BERJAYA 6.48 6.5 6.2 6.54 6.05 6.5 7498600 47497601 BLOOMBERRY PACIFIC ONLINE 1.8 1.88 1.8 1.89 1.8 1.89 6000 10890 1.46 1.5 1.44 1.46 1.44 1.46 152000 221150 LEISURE AND RES 2.25 2.43 2.35 2.35 2.35 2.35 3000 7050 MANILA JOCKEY 2.31 2.45 2.31 2.49 2.21 2.45 141000 333930 PH RESORTS GRP PREMIUM LEISURE 0.295 0.3 0.305 0.305 0.295 0.3 3180000 952600 PHIL RACING 7.53 8.39 7.5 7.5 7.5 7.5 400 3000 5.3 5.31 5.4 5.4 5.21 5.31 7098800 38010166 ALLHOME 1.53 1.54 1.54 1.55 1.52 1.53 1720000 2633220 METRO RETAIL 44.1 44.5 47 47 44 44.1 4306600 193231385 PUREGOLD ROBINSONS RTL 66.1 66.2 67.7 67.85 66 66.1 239330 15928233 PHIL SEVEN CORP 127.1 130 127 127.1 127 127.1 160 20335 1.14 1.15 1.13 1.16 1.12 1.15 3247000 3,712,100( SSI GROUP 15.42 15.5 15.34 15.7 15.34 15.5 538200 8334754 WILCON DEPOT APC GROUP 0.29 0.295 0.285 0.3 0.285 0.29 270000 78750 6.52 6.6 6.5 6.7 6.5 6.51 37400 244049 EASYCALL 285 290 290 290 290 290 70 20300 GOLDEN BRIA 0.2 0.203 0.195 0.2 0.195 0.2 1690000 337040 PRMIERE HORIZON SBS PHIL CORP 5.25 5.4 5.4 5.4 5.4 5.4 1300 7020

-8778550 2203875 -4900 2694089.9997 58570 -84700 78940 -352000 9390 -18207625 -3937938 5200 19345110 -135534 13260 -94300 20364955 390000 -13434201 258550 -63301760 -5826947.5 2542 2,234,239.9995) 3723538 -

MINING & OIL

ATOK 10.1 10.2 10.2 10.2 10.2 10.2 40200 410040 0.93 0.94 0.91 0.95 0.9 0.94 2302000 2162060 APEX MINING ABRA MINING 0.001 0.0011 0.0011 0.0011 0.001 0.0011 235000000 241400 5000 ATLAS MINING 1.84 1.89 1.89 1.89 1.84 1.84 19000 35110 1.01 1.2 1.23 1.23 1.23 1.23 50000 61500 BENGUET A 0.18 0.182 0.186 0.186 0.186 0.186 40000 7440 COAL ASIA HLDG CENTURY PEAK 2.68 2.7 2.7 2.71 2.7 2.71 150000 406000 -189700 FERRONICKEL 0.74 0.75 0.74 0.75 0.74 0.75 993000 738300 27000 0.201 0.203 0.201 0.205 0.2 0.201 120000 24130 GEOGRACE 0.074 0.075 0.076 0.076 0.074 0.074 1460000 109200 LEPANTO A MANILA MINING B 0.007 0.0078 0.007 0.007 0.007 0.007 3000000 21000 0.52 0.53 0.54 0.56 0.5 0.53 310000 166170 MARCVENTURES 1 1.01 1 1.05 0.99 1 69000 69850 NIHAO 1.55 1.57 1.55 1.57 1.51 1.57 4240000 6503080 -678150 NICKEL ASIA ORNTL PENINSULA 0.48 0.49 0.47 0.48 0.47 0.48 20000 9500 2.3 2.32 2.28 2.35 2.28 2.32 168000 389490 -93169.9997 PX MINING 11.08 11.1 11.32 11.46 11.1 11.1 680000 7600424 -5669522 SEMIRARA MINING 0.0038 0.0043 0.004 0.004 0.004 0.004 51000000 204000 UNITED PARAGON 6.31 6.48 6.21 6.5 6.21 6.48 26900 170826 ACE ENEXOR ORNTL PETROL A 0.0085 0.0086 0.0084 0.0084 0.0084 0.0084 5000000 42000 0.0085 0.01 0.0085 0.0095 0.0085 0.0095 6000000 54000 ORNTL PETROL B 0.0079 0.0082 0.008 0.008 0.008 0.008 6000000 48000 PHILODRILL 4.56 4.57 4.7 4.7 4.49 4.56 1473000 6660610 67900 PXP ENERGY

PREFFERED AC PREF B1 501.5 502 502 502 502 502 30 15060 499 500 502 502 499 499 5050 2520250 AC PREF B2R DD PREF 100 101.4 101 101.5 101 101.5 38250 3880868 107 110 107 107.4 107 107.4 6000 643200 FGEN PREF G 512 518 520 520 520 520 30 15600 GLO PREF P 999 1000 1000 1000 999 1000 4420 4419480 GTCAP PREF B MWIDE PREF 99.5 100 100 100 100 100 810 81000 100.6 106.9 100.5 100.5 100.5 100.5 600 60300 PNX PREF 3B 997 999 999 999 997 997 210 209590 PNX PREF 4 1020 1048 1020 1020 1020 1020 5000 5100000 PCOR PREF 3A PCOR PREF 3B 1040 1049 1023 1045 1023 1045 700 728800 77.6 77.8 77.8 77.8 77.8 77.8 2090 162602 SMC PREF 2C 74.8 75.5 74.75 75.2 74.75 75.2 14630 1100018.5 SMC PREF 2D 76.05 76.5 76.5 76.5 76.5 76.5 10000 765000 SMC PREF 2F SMC PREF 2G 75.25 76.25 76 76.3 76 76.3 11600 882826 74.8 75.25 75.25 75.25 75.25 75.25 20170 1517792.5 SMC PREF 2H 76.95 77.5 76.95 76.95 76.95 76.95 5000 384750 SMC PREF 2I

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 13.8 14 13.6 14 13.6 13.8 378200 5209540 -1728980 4.56 4.87 4.84 4.95 4.84 4.87 72000 351540 346650 GMA HLDG PDR

WARRANTS LR WARRANT 0.68 0.7 0.7 0.7 0.68 0.7 23000 16080

SMALL & MEDIUM ENTERPRISES ITALPINAS 1.91 1.92 1.84 1.91 1.76 1.91 2092000 3866500 105660 5.79 5.85 5.8 5.97 5.74 5.79 42400 244631 11600 KEPWEALTH MAKATI FINANCE 2 2.4 2 2 2 2 9000 18000 0.56 0.57 0.57 0.57 0.54 0.56 2879000 1592660 XURPAS

EXHANGE TRADE FUNDS

FIRST METRO ETF 89.2 89.45 87.5 89.5 87.5 89.2 22630 2000125 24620

www.businessmirror.com.ph

Shakey’s income falls in Q1 as lockdown hits operations

By VG Cabuag

S

@villygc

hakey’s Pizza Asia Ventures Inc., a company that owns the brand in the region and is led by the Po family, said its income fell 34 percent in the first quarter to P113.79 million, from last year’s P173.81 million.

Revenues were flat during the period ending March to P1.83 billion, as the strong performance in January to February was dampened by the sudden closure of most of its stores in mid-March due to the implementation of enhanced community quarantine (ECQ).

The company posted systemwide sales growth of 21 percent in

January and February, prior to the ECQ, driven primarily by samestore sales growth of 7 percent, the continued expansion of Shakey’s outside Metro Manila, and the consolidation of Peri-Peri Charcoal Chicken in June 2019.

“The temporary closure of a significant number of our stores, combined with the impact of operating

leverage and various fixed costs, dampened our bottom line during the period,” said Vicente Gregorio, company president and CEO. “We expect the second quarter to be worse, possibly the most challenging I’ve experienced in my career, as we feel the full effects of limited operations and incremental costs due to the crisis.”

During the second half of March, the company only had 9 percent of its network operational out of a total of 280 outlets—comprised of 249 Shakey’s and 31 Peri-Peri stores— servicing delivery and take-out. As a result, it ended the quarter with systemwide sales of P2.3 billion, flat year-on-year.

About 256 Shakey’s and Peri outlets have currently re-opened, representing 91 percent of the company’s total store network. Under revised operating procedures, each unit undergoes intensified safety

audits, regular sanitation, as well as temperature checks for both guests and staff. Safety signage and an assigned health and safety officer have also been put into place in each of its stores.

The company is also cutting its capital expenditures by 70 percent, while reducing unnecessary overhead costs and managing working capital spend. It will also be suspending its 2020 new store openings for now.

“Beyond the ongoing shortterm disruptions, we believe that the long-term structural story of the Philippine restaurant space remains intact. We are however taking a more prudent approach over the next few months, observing how consumer behavior and trends will evolve as various lockdowns lift, as well as what the pandemic’s effects will be on the broader economy,” said Gregorio.

Vista Mall to continue ‘personal shopper’ service V ista Mall, the shopping mall brand of Villar-led property developer Vista Land and Lifescapes Inc., and its anchor stores from sister company All Value, has implemented its personal shopper delivery service.

The property developer said the service is still needed even with the easing of lockdown measures implemented in Metro Manila.

“With new rules and guidelines under community quarantine, shopping behavior as we know it has changed dramatically. Adopting new and innovative ways to enable customers to still purchase essentials and other needs for their homes has become a priority for Vista Mall and its business partners,” it said.

The Villar’s All Day Supermarket was among the first in the industry to launch their personal shoppers, which were assigned per location to ensure that all queries and orders are served in a timely and efficient manner.

Customers can get their essentials by sending their grocery list using an order form from All Day. The personal shopper will then collect items and confirm availability of products and alternatives with customer. The customers will then settle their bill via cash on delivery, credit/debit card on delivery, or bank transfer and wait for their groceries to be delivered or they can pick it up the next day.

The said service is also available to All Home, and other brands under the Villar group.

“These personal shopper services can be availed through Viber, a free messaging application that enables users to send messages and photos to one another when connected to the internet,” the company said.

Vista Mall is the subsidiary of Vista Land with investment properties totaling about 1.5 million square meters of gross floor area around the country. VG Cabuag

Oil firms hike price of diesel, kerosene

By Lenie Lectura @llectura

O

il firms on Monday announced that they will increase the price of diesel and kerosene and reduce gasoline prices.

Seaoil Philippines, Pilipinas Shell, Petro Gazz, Flying V, Cleanfuel and Phoenix Petroleum said in separate advisories that there is a price increase of P0.80 per liter in kerosene and P0.25 per liter in diesel starting Tuesday.

Gasoline prices, meanwhile, will go down by P0.20 per liter.

The price adjustment takes effect Tuesday, 6am.

Liquefied petroleum gas (LPG) prices also went down.

Petron Corp. implemented a P0.30 per kilogram (kg) rollback in LPG and P0.17 per liter reduction in auto LPG. “These reflects the international contract price of LPG for the month of June,” it said.

Solane LPG prices also decreased

by P0.27 per kg effective June 1.

Phoenix LPG slashed its Super LPG by P0.30 per kg and auto LPG

by P0.15 per liter.

Fuel subsidy

The Department of Transportation (DOTr) announced also on

Monday that Petron has extended its fuel subsidy for participating vehicle units in the Free Ride Service for Health Workers Program until June 15.

The move follows the shift from enhanced community quarantine (ECQ ) to a general community quarantine (GCQ) starting June 1 in Metro Manila, Central Luzon, Cagayan Valley, Calabarzon, Central Visayas, Pangasinan, Zamboanga City, and Davao City. The rest of the country will shift to a modified general community quarantine (MGCQ).

“I am happy to report that the DOTr Free Ride for Health Workers Program breached the 1-million total ridership nationwide on May 30. Petron, as one of our partners in this endeavor, has been instrumental in reaching this milestone,” said DOTr Undersecretary for Administrative Affairs Artemio Tuazon Jr. Since April 8, Petron has been providing free fuel to vehicles of transport companies participating in the DOTr Free Ride Service for Health Workers Program in the Greater Manila Area. The program aims to ferry frontline health workers to hospitals and medical communities daily, as the country continues its fight to contain the spread of Covid-19.

mutual funds

June 1, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 192.71 -26.34% -10.93% -6.64% -23.49% ATRAM Alpha Opportunity Fund, Inc. -a 0.9511 -41.09% -15.8% -8% -31.18% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.5719 -36.94% -15.7% -9.49% -30.08% Climbs Share Capital Equity Investment Fund Corp. -a 0.6507 -30.41% n.a. n.a. -27.47% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6531 -24.82% n.a. n.a.

-23.1% First Metro Save and Learn Equity Fund,Inc. -a 4.1835 -22.97% -8.19% -5.97% -21.49% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6499 -25.26% -11.75% n.a.

-23.86% MBG Equity Investment Fund, Inc. -a 73.81 -40.07% n.a. n.a. -28.57% PAMI Equity Index Fund, Inc. -a 38.4949 -25.6% -9.54% n.a. -24.93% Philam Strategic Growth Fund, Inc. -a 414.13 -23.14% -8.71% -5.77% -22.27% Philequity Alpha One Fund, Inc. -a,d,5 0.8599 n.a. n.a. n.a. -16.52% Philequity Dividend Yield Fund, Inc. -a 0.9888 -24.74% -8.69% -4.95% -23.16% Philequity Fund, Inc. -a 28.9352 -25.04% -8.35% -4.83% -23.65% Philequity MSCI Philippine Index Fund, Inc. -a 0.7598 -26.77% n.a. n.a. -25.37% -4.8% Philequity PSE Index Fund Inc. -a 3.9227 -25.21% -9.03% -24.9% Philippine Stock Index Fund Corp. -a 655.82 -25.1% -9.01% -5.01% -24.8% Soldivo Strategic Growth Fund, Inc. -a 0.5983 -35.6% -12.82% -9.02% -29.73% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.0801 -28.25% -9.85% -5.96% -26.82% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7527 -25.22% -9.15% -4.95% -24.79% United Fund, Inc. -a 2.8033 -24.56% -7.19% -4.12% -23.27% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 87.989 -24.96% -8.53% -4.19% -24.77% ATRAM AsiaPlus Equity Fund, Inc. -b

$0.8845 -6.88% -3.41% -3.81% -13.99% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3129 5.81% 4.32% n.a.

-4.77% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5164 -11.55% -5.14% -4.41% -2.97% ATRAM Philippine Balanced Fund, Inc. -a 2.0111 -12.55% -5.14% -2.77% -7.79% First Metro Save and Learn Balanced Fund Inc. -a 2.3786 -9.48% -2.8% -3.59% -9.61% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1851 n.a. n.a. n.a.

-18.99% NCM Mutual Fund of the Phils., Inc. -a 1.8108 -5.78% -1.63% -0.97% -7.76% PAMI Horizon Fund, Inc. -a 3.3972 -7.56% -3.06% -2.31% -10.34% Philam Fund, Inc. -a 15.1641 -8.53% -3.27% -2.45% -10.59% -2.25% -11.82% Solidaritas Fund, Inc. -a 1.8745 -12.25% -4.3% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2157 -16.3% -5.15% -3.39% -16.77% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9191 -8.15% n.a. n.a.

-9.51% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8153 -18.23% n.a. n.a. -18.18% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.7911 -20.46% n.a. n.a. -20.35% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7957 -19.06% -6.08% -4.62% -18.37% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. - a $0.03833 4.53% 2.5% 1.58% 0.26% PAMI Asia Balanced Fund, Inc. -b $0.9359 -1.12% -0.96% -1.6% -9.83% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.7297 2.93% 3.04% 2.34% -4.63% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.0858 0.92% 1.36% n.a.

-3.81% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 363.8 4.24% 3% 2.47% 1.68% ATRAM Corporate Bond Fund, Inc. -a 1.9361 1.86% 0.97% -0.09% 1.79% Cocolife Fixed Income Fund, Inc. -a

3.1799 4.67% 5.14% 5.1% 2.04% Ekklesia Mutual Fund Inc. -a 2.2829 5.29% 2.83% 2.26% 2.6% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4336 6.77% 3.18% 1.9% 3.16% Philam Bond Fund, Inc. -a 4.5542 11.84% 3.87% 2.34% 4.15% Philam Managed Income Fund, Inc. -a,6 1.2882 6.96% 3.89% 2.12% 2.51% Philequity Peso Bond Fund, Inc. -a 3.9105 7.6% 4.05% 2.1% 3.23% Soldivo Bond Fund, Inc. -a 1.0235 10.54% 3.41% 1.57% 6.14% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1477 8.06% 4.67% 2.87% 2.33% Sun Life Prosperity GS Fund, Inc. -a

1.7355 7.43% 4.13% 2.41% 2.02% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $471.51 3.39% 2.39% 2.52% 0.7% ALFM Euro Bond Fund, Inc. -a Є214.82 -0.56% 0.55% 0.75% -2.23% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2136 3.43% 2.68% 2.27% 0.53% 1.32% 1.12% 0.39% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 1.97% PAMI Global Bond Fund, Inc -b $1.0633 -0.98% -0.36% -0.09% -2.91% Philam Dollar Bond Fund, Inc. -a $2.4212 5.72% 3.01% 2.59% 0.72% Philequity Dollar Income Fund Inc. -a $0.0600712 2.44% 1.72% 1.6% -0.4% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.167 4.98% 2.09% 2.06% -0.26% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 127.75 3.84% 3.14% 2.38% 1.57% First Metro Save and Learn Money Market Fund, Inc. -a 1.0394 2.67% n.a. n.a.

1.28% 3.26% 3.02% 2.55% 1.26% Sun Life Prosperity Money Market Fund, Inc. -a 1.2805 Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0428 1.62% n.a. n.a.

0.54% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.92 n.a. n.a. n.a.

-7.07% 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).

"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

Banking&Finance BusinessMirror

Govt raises ₧26B as investors find safe haven in Treasury bills

By Bernadette D. Nicolas @BNicolasBM

T

he Bureau of Treasury awarded P26 billion in Treasury bills (T-bills), which still enjoyed overwhelming response from investors looking for a safe haven for their cash.

Monday’s auction was oversubscribed by more than four times the initial P20-billion offering as tenders reached P83.995 billion.

With the acceptance of more non-competitive bids for the 91-day T-bills and the 364-day T-bills, the volume of award was upsized to P26 billion. Broken down, P7 billion in 91-day T-bills was awarded, P5 billion in 182-day T-bills and P14 billion in 364-day T-bills.

National Treasurer Rosalia V. De Leon told reporters “sentiment continues to be in safe assets but try to stretch yield with one-year tenor.”

Seeing robust demand for the 364-day T-bills with tenders reaching P51.095 billion or five times the initial P10 billion offering, the Treasury also decided to open the tap facility window for an additional P10-billion offering for the tenor.

The tap facility auction was open

to all 11 government securities dealers-market makers.

The 91-day T-bills fetched an average rate of 2.046 percent, lower by 1.2 basis points from the previous rate of 2.058 percent. Bids amounted to P17.35 billion, more than thrice the initial P5 billion offering.

Meanwhile, the 182-day T-bills capped an average rate of 2.118 percent, higher by 0.4 basis points from 2.114 percent in the previous auction. Tenders reached P15.55 billion, thrice as much as the P5 billion offering.

The average rate for the 364-day T-bills slid by 8.8 basis points to 2.420 percent from 2.508 percent.

When asked if there’re plans for an issuance of Retail Treasury Bonds as the local debt market remains flushed with liquidity, De Leon said the Treasury continues to be “watchful of developments and risk return of investors.”

For this month, the Treasury aims to borrow P170 billion from the local debt market, the same level it programmed for May. Of the P170 billion, P110 billion will be borrowed through T-bills while P60 billion in Treasury bonds will be auctioned off.

Sun Life of Canada led PHL life insurance sector in 2019

S

un Life of Canada (Philippines) Inc. topped life insurers in terms of New Business Annual Premium Equivalent (Nbape), premium income and net income for 2019.

Based on unaudited quarterly reports on selected financial statistics submitted by life insurers, Sun Life Philippines ranked first with a total Nbape of P9.61 billion in 2019.

Insurance Commissioner (IC) Dennis B. Funa said in a statement that a life insurer’s Nbape is computed by obtaining the sum of the value of regular premiums from products newly sold in a specific year (or the initial annualized premium) and 10 percent of single premiums written.

“It is an international standard that the IC has adopted to more accurately measure the life insurance industry’s sales performance,” Funa said.

Pru Life Insurance Corp. of UK (Pru Life UK) ranked second with total Nbape of P7.67 billion followed

by Philippine Axa Life Insurance Corp. (AXA Philippines) with P5.50 billion, The Manufacturers Life Insurance Co. (Phils.) Inc. (Manulife Philippines) with P4.36 billion and BPI-Philam Life Assurance Corp.

(BPI-Philam) with P3.90 billion.

In 2019, the life insurance industry recorded a 10.64-percent increase in Nbape to P57.557 billion from P52.024 billion in 2018.

Based on premium income, Sun Life Philippines obtained a combined

total premium income of P39.51 billion for both traditional and variable life insurance products.

It was followed by Pru Life UK with P26.97 billion, AXA Philippines (P26.24 billion), Manulife Philippines (P18.35 billion), BPI-Philam (P17.24 billion).

The life insurance sector achieved a total premium income of P233.916 billion, a 2.32 percent-increase from P228.612 billion in 2018.

In terms of net income, Sun Life Philippines also led life insurers with P8.21 billion in 2019, taking the top spot after settling for second place in 2018. Rounding up the top five were the life insurance unit of the following composite insurance companies: Philippine American Life & General Insurance Co. (P7.67 billion); Pru Life UK (P4.40 billion); AXA Philippines (P3.39 billion); and, The Insular Life Assurance Co. Ltd. (P2.94 billion).

For the same year, the life insurance sector posted a total net income of P36.127 billion, up by 25.76 percent from P28.728 billion in 2018.

Meanwhile, AIA Philam Life remained on top in terms of total assets, with P290.16 billion. Next on the list were Sun Life Philippines (P254.52 billion), Insular Life (P133.02 billion), AXA Philippines (P127.55 billion), and Manulife Philippines (P114.90 billion).

Total assets of the life insurance sector also surged by 13.41 percent to P1.424 trillion from P1.256 trillion in 2018. Bernadette D. Nicolas

Tuesday, June 2, 2020 B3

BDO hikes provisions by 1,000% on expected rise in delinquencies

B

By Tyrone Jasper C. Piad

@Tyronepiad

DO Unibank Inc. took a preemptive strike as the economy nears stalling after nearly three months of lockdown by expanding its buffer for bad debts that the bank expects to increase this year.

After evaluating its loan portfolio, the Sy-led bank said it found it prudent to allocate P20 billion in provisions, in addition to over P2 billion earmarked during the first quarter.

“The Bank is expecting delinquencies to increase this year with the disruption in business activi-

ties, tightness in corporate liquidity, lower consumption levels and contraction in [economy] by as much as 3.4 percent based on government estimates,” BDO said in a disclosure on Monday.

The listed bank underscored that its move to hike provisions by 1,000 percent was inevitable given the cur-

rent situation and should be seen as a protection for the balance sheet.

BDO shares fell by 1.39 percent, or P1.40, to end at P99 each amid the 1.56-percent uptick for the main index on Monday.

But by increasing allowance, BDO said that it was expecting its nonperforming loans (NPL) coverage ratio to remain robust.

BDO set aside 170 basis points in anticipated credit costs but noted that actual write-offs or losses are likely to be much less.

“BDO’s balance sheet remains strong, with capital ratios remaining comfortably above regulatory levels despite the higher provisions,” the bank said. “The move will not impair the Bank’s capital.”

“Despite the additional provisions, the Bank’s capital adequacy ratio is expected to remain stable and the Bank intends to continue with its

regular dividend declaration,” it said.

In separate disclosure, BDO approved the declaration of regular cash dividends on common shares, the second time this year, amounting to 30 centavos apiece for the second quarter. These are payable on June 29.

The Sy-led bank saw its first quarter earnings decline by 10.20 percent to P8.8 billion from P9.8 billion in the same period last year due to trading and foreign exchange losses.

Customer loans rose 11 percent to P2.2 trillion on continued growth across all market segments while total deposits increased 9 percent to P2.6 trillion in the first three months.

The bank’s total capital base rose to P372.2 billion in the first quarter, booking capital adequacy ratio of P13.8 percent and common equity Tier 1 of 12.7 percent.

Senator warns against adverse impact of digital-economy tax

By Butch Fernandez @butchfBM

R

aising serious concerns over government’s scheme to “tax the digital economy” to raise more funds to contain the Covid-19 contagion, Senator María Imelda Josefa “Imee” R. Marcos warned the move is likely to backfire on vital public services, businesses and jobs.

“Taxing the country’s growing digital economy will hamper health services, education and the creation of businesses and jobs, even as it raises funds for the government’s fight versus Covid-19 [coronavirus disease 2019],” Marcos, chairman of the Senate Committee on Economic

Affairs, said on Monday.

Calling the move as “a doubleedged sword,” she noted that the proposed revenue-raising schemes include a 10-percent tax on all imported goods conceived by the Department of Trade and Industry, and a separate tax bill on digital services filed in the House of Representatives.

Marcos found it to be “a bit hasty to slap on new taxes in the midst of an economic crisis when people are looking for subsidies, discounts and longer installment plans due to reduced incomes or jobs lost.”

Anticipating that businesses will simply pass on the added tax costs to consumers, she foresees this additional imposition will hit hard ordinary folks “most of whom are poor

or middle-class.”

At the same time, the Senator pointed out that contact-tracing apps, telemedicine, online learning and e-commerce are becoming the norm worldwide, adding this will increase public demand for imported digital products as necessities rather than luxuries.

“Never mind the Amazons and Lazadas, for now,” Marcos advised noting that “a myriad digital startups by entrepreneurial youth can grow a conflating economy and are waiting for government support, like online sari-sari stores, grocery deliveries and the home-based manufacturing of face masks and health essentials in our Ilocano ‘BUYanihan’ program.”

She foresees that the growing “gig economy” of work-from-home arrangements, freelance work and self-employment, is also the emerging template of how a conflating, post-Covid economy will run.

“New taxes at this time can discourage broader public use of digital tools and services. We must first be allowed to get familiar and participate in the world’s new ways of getting things done to stimulate business and job creation,” the Senator said.

“The best use of government’s limited resources from current taxes and external loans should cover MSMEs [micro, small and medium enterprises], whether brick-andmortar or digital,” she added.

Financial execs back ‘bold’ reforms in transport system

F

inancial executives welcomed government’s move to reform the public bus transportation system in Metro Manila, specifically the transport department’s initiative on a new traffic system for the metropolis’s major thoroughfare.

The Financial Executives Institute of the Philippines (Finex) said these reforms lead to higher labor productivity and abets economic growth measures as these could ease the travel of many commuters on EDSA and other major traffic corridors in the capital region.

“As a result, it is expected that higher productivity will be achieved with more commuters accommodated and allowing them to reach their destination faster,” Finex said.

“These new busways and bus-

service reforms signal the evolution of the commuting experience in Metro Manila,” Finex added. “We look forward to the day when our public transport system achieves world class standards and constitutes an enabler for economic growth and prosperity for the Filipino.”

Finex said it support initiatives like including having new busways in the innermost lanes of EDSA to replace existing yellow bus lanes, bus franchise rationalization and route restructuring.

Eduardo H. Yap, the organization’s chairman of national affairs committee described the initiatives as “bold, historic and game changing.”

The business group noted that bus operators would also be benefiting from optimization of bus utilization and passenger capacity with

the reforms.

“With more efficient operation of their bus fleet, better returns will be generated,” Finex said. “We are pleased to note that the inclusive approach being adopted will leave no operator behind.”

Finex noted that commuters in Metro Manila have been battling against heavy traffic congestion and “poor” public bus transportation service, stressing that economic opportunity losses rose to approximately P3.5 billion before the lockdown.

The new busway transport technology on Edsa’s inner road lanes can effectively manage traffic as these will only be dedicated exclusively for accredited public buses and away from other vehicles, according to Finex.

Moreover, with proper implemen-

tation, these are seen to be more efficient than yellow bus lanes, Finex claimed.

According to the Department of Transportation, public transportation guidelines under general community quarantine are to be implemented in two phases.

The first phase, on June 1-21, will only allow train and bus augmentation, taxi, shuttle services (P2P buses), bicycles and tricycles (with clearance from local government unit) to operate with limited passenger capacity in Metro Manila.

During the second phase from June 22 to June 30, the government is allowing the public utility buses, modern public utility vehicles and UV Express paid-shuttle service.

Tyrone Jasper C. Piad

In emerging markets’ return to sell dollar debt, Asia leads the charge

T

he riskier parts of the developing world are again flirting with international debt markets and Asian companies are leading the charge.

Asia’s riskier borrowers are once again selling offshore debt, paving the way for other emerging-market bond sellers amid optimism reopening economies will stoke global growth.

While demand for higher quality bonds, including Chinese dollar debt, hit fresh highs last month, junk borrowers are also finding ways to sell.

It’s a sign of differentiation among borrowers from the developing world as local Asian investors offer support to leveraged firms in the region, according to BNP Paribas Asset Management, which is bullish on some Asian markets and offshore China credit.

“In April, we saw Asia’s highyield market returning, whereas we haven’t yet seen that in the Latam, Middle East or Africa complex,”

according to Karan Talwar, senior investment specialist for emergingmarket debt at BNP Paribas Asset Management in Hong Kong. These borrowers have been more successful because they’re supported by local investor demand, he said. Asia’s junk universe is dominated by Chinese borrowers who have flocked to offshore markets in recent years.

Emerging-nation companies and governments have raised more than $292 billion through dollar-denominated bond sales this year, data compiled by Bloomberg show. Issuance all but dried up in March as the threat of the coronavirus and weaker oil prices became clear.

While the amount of money raised from emerging-market dollar bond sales soared to a record for the first five months of a year, buoyed by blowout new issuance early in 2020, the number of sellers dropped to a four-year low,

A road way is shown in this undated photo. Asia is seemingly showing emerging markets how to return to selling dollar debt, boosting optimism of economies reopening after restrictions against the spread of Covid-19. Bloomberg News

data show. That highlights how creditors are discriminating more between investment-grade and high-yield debt.

Demand for risk Investors have lapped up a handful of high-yield Chinese notes issued in the past two months. Prop-

erty developers, which make up the bulk of the nation’s riskier issuance, borrowed a record amount in the first quarter and are poised to return with an offering from Zhenro Properties Group Ltd. effectively re-opened that part of the market in May. Orders for the $200 million bond surged to about seven times the issuance size and Asian investors made up 85 percent of final order books, according to a person familiar with the matter. Separately, just last week orders for another high-yield developer bond from Fantasia Holdings Group Co. reached $1.1 billion for a $300 million with 98 percent of interest from Asian buyers.

The return of European and Latin American issuance has been more hesitant, reflecting the fact that Asian economies hit earlier by the pandemic were able to begin reopening sooner. Latin America is in

the throes of its worst outbreaks, especially in nations such as Brazil, where leaders are avoiding strict nationwide lockdowns.

Even so, Brazil’s state-run oil producer, Petrobras, sold $3.25 billion of bonds this week. It was the first Brazilian company to sell dollar bonds since before the pandemic.

The sale may be a harbinger of more lower-rated companies returning to markets soon, according to Citigroup Global Markets strategists including Eric Ollom, Donato Guarino and Ayoti Mittra.

“EM new issuance since the Covid crisis has been predominantly IG, except for the odd sovereign and Asian corporate,” they wrote. “We find the market flush with liquidity and clearly looking at the future back-to-work narrative more than the ugly economic data confirming the depths of the contraction.”

Bloomberg News

B4

Art

BusinessMirror

Tuesday, June 2, 2020

www.businessmirror.com.ph

‘Incredible’: Italian woman wins €1-million Picasso RAFFLE organizers Peri Cochin (left) and Arabenne Reille unbox the painting Nature Morte by Picasso at Christie’s auction house on May 19, 2020 in Paris. AP

P

By John Leicester The Associated Press

ARIS—An Italian accountant whose son bought her the raffle ticket as a Christmas present won a Pablo Picasso oil painting valued at €1 million ($1.1 million) in a charity draw on Wednesday.

Claudia Borgogno summed up her amazement in one word: “Incredible.”

“I have never won anything before,” the 58-yearold told The Associated Press from her home in Ventimiglia, northern Italy. She said she likes Picasso, and the prospect of being able to hang one of the 20th century master’s paintings on her wall was still sinking in.

Her son, Lorenzo Naso, bought two tickets in December, sending one to his mother.

“It was maybe the best decision in my life,” he told The AP. The ticket was picked out in an electronic draw at the auction house Christie’s in Paris.

Organizers valued the painting, Nature Morte, as being worth €1 million. The billionaire art collector who provided it, David Nahmad, said the work is worth “at least two, three times” that.

“Claudia has won this extraordinary painting tonight that is worth one million and so is a millionaire,” organizer Peri Cochin announced after Borgogno’s name and winning ticket number were displayed on a screen.

The 51,140 tickets sold online for €100 ($109) each.

Proceeds are going to provide water for villagers in Madagascar and Cameroon.

The draw was originally scheduled for March but delayed by the coronavirus pandemic. Naso told The AP that he hadn’t realized it was taking place on Wednesday and wasn’t watching the live broadcast.

The call from organizers to say that his mother had won came as shock.

She didn’t believe it. “When I arrived and I told her she has won she was like, ‘Please don’t joke,’” he said.

“She is not going to sleep tonight.”

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Justin Long, 42; Zachary Quinto, 43; Dana Carvey, 65; Dennis Haysbert, 66.

Happy Birthday: Dig deep, question your motives and consider what will make you happy. You may long for a change, but preparation is required before you head in a different direction. Use your intelligence, creativity and physical strength to help you plow through whatever job is necessary to pursue your dreams. Personal growth is encouraged. Your lucky numbers are 5, 13, 26, 29, 34, 37, 41.

a

ARIES (March 21-April 19): Listen carefully, and use the information you gather to assess your current situation and to revise the way you move forward. Take the time to update your skills and knowledge into something that will encourage a shift in lifestyle. HHH

b

TAURUS (April 20-May 20): Something you read will change the way you think and do things. Verify information someone uses to tempt you to get involved in something iffy. Do what feels right for you; do not follow in someone’s footsteps.

HHH

c

GEMINI (May 21-June 20): Take better care of your health and physical well-being. A fitness routine will ensure that you are strengthening yourself in preparation for what’s to come. Don’t let anger consume you. Instead, let physical movement ease stress and clear your mind. HHHHH

d

CANCER (June 21-July 22): Try to stay positive. Emotional spending won’t solve anything. Work with what you’ve got, and you’ll find a way to minimalize your lifestyle rather than add to the clutter. HH

e Naso, an analyst for the European Union’s securities markets regulator, lives in Paris but has been staying with his mother in Italy during the coronavirus lockdown.

“It was a pretty awful period for us during this lockdown and now it’s great news,” he said.

Nahmad will be paid €900,000 for the work. The painting was the smallest of 300 works by Picasso that he owns, the largest private collection of works by

the Spanish artist.

The small still life, which is signed “Picasso”, shows a newspaper and a glass of absinthe on a wood table.

Picasso painted it in 1921.

Tickets were bought in more than 100 countries, with the bulk sold in France, the United States, Switzerland and Italy. The winner of a similar raffle in 2013 was a 25-year-old fire sprinkler worker from Pennsylvania. n

Czech National Museum exhibits masks made during pandemic

Three-man ‘Chismosis’ exhibit goes online KAIDA Contemporary presents Chismosis, a three-man show featuring online the recent works by Pete Jimenez, Jason Moss and Jose Tence Ruiz.

The works of Jimenez, Moss and Ruiz are like children sucking as much oxygen as they can in a fog of nitrous oxide. They suck it in, hold their breath as long as they can and plod on. Jimenez concocts material metonyms from debris to suggest law lagging legislatures, daring transport cyclists, and social-media clichés. Moss applies a trenchant

Today’s Horoscope

eye on shallow, even degrading entertainment, apocalyptic paranoia and downright hallucinogenic misrepresentation, all coming to us with the fees that we have invested in television and social media. Tence Ruiz calls out command hypocrisy, the tangle between humans and their self-destructive desires and the scorched-earth despair that chaperones the simple wage earning majority.

The show runs until June 15. More information is available at 09279297129 or kaida529@yahoo.com.ph.

PRAGUE—The National Museum in Prague has put on display the most visible symbol of the Czech Republic’s response to the coronavirus: face masks.

The Czech government made wearing masks in public mandatory in mid-March. Amid an initial shortage, many people started making their own masks.

Some of the masks featured in the museum exhibition were made by leading fashion designers, while others are the handiwork of creative home crafters.

One mask was made from a cloth on which a 15-year-old boy with autism painted a map of Prague’s public transportation network. A woman created another from a shirt her husband wore at their wedding.

Also on exhibit is a model with a flap strategically placed with Velcro to allow for drinking and staying safe.

“If we want to leave a legacy for future generations, this collection of face

masks says only positive things about us,” National Museum spokesman Lenka Bouckova said on Thursday. “That as a nation we are able to face a challenge in a positive way and we are able to stick together. The face masks are a clear expression of that.”

The Czech Republic had a total of 9,103 confirmed virus cases and 317 deaths as of Thursday. The mandatory mask-wearing and other early virusprevention measures are thought to have limited infections in the country compared to other parts of Europe.

Czech Prime Minister Andrej Babis trumpeted his government’s mask policy to US President Donald Trump.

“Mr. President @realDonaldTrump, try tackling the virus Czech way,” Babis tweeted on March 29, adding that even “a simple cloth mask” significantly decreased the spread of the virus.

The Nation Museum exhibition is set to expand with future donations when people no longer need to use masks. AP

LEO (July 23-Aug. 22): Search for a new image that suits your changing personality.

Set a course that leads to a brighter future.

Choose to associate with people who share the same opinions. HH

f

VIRGO (Aug. 23-Sept. 22): Use intelligence, experience and facts to help you overcome any adversity you face. Someone will play games with you if you are gullible or too accommodating. HHHH

g

LIBRA (Sept. 23-Oct. 22): Consider what you enjoy doing most, and head in that direction.

Look for a way to turn your talents and desires into something lucrative. Stretch your boundaries until you find a balance between what you love and what you can achieve. HHH

h

SCORPIO (Oct. 23-Nov. 21): Question your motives, lifestyle and direction. Evaluate what you have accomplished and what you want to pursue. The past, coupled with what’s happening in your life now, will help you discover a path that feels right. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Gather information, but before you pass it along, verify facts. A partnership will require an adjustment if it’s going to work. Discuss what’s important to you and what you are willing to offer in return. HHH

j

CAPRICORN (Dec. 22-Jan. 19): An opportunity looks better than anticipated. Make any changes necessary to ensure that you can take advantage of whatever comes your way. Discuss your plans with someone who will be affected by the decision you make. Clear the way. HHHH

k

AQUARIUS (Jan. 20-Feb. 18): Keep your life simple and affordable, and head in a direction that brings you peace of mind and a better relationship with the ones you love. A positive change at home or adjustment to a contract will improve your situation and life. HHHHH

l

PISCES (Feb. 19-March 20): Listen, observe and consider the best route to take to avoid a negative encounter. Choose to work alone if it will minimalize interference. Focus on accomplishment, not presentation. Let your intuition guide you when faced with uncertainty or a negative influence. HHH Birthday Baby: You are persistent, cautious and appealing.

You are playful and reflective.

‘flight path’ by richard shlakman The Universal Crossword/Edited by David Steinberg

ACROSS 1 Apple tablet 5 Got on in years 9 Films with many extras, often 14 Burkina Faso neighbor 15 Indian flatbread 16 Investigate 17 Food thickener 18 Low pair of cards 19 One stays upright after being flipped 20 Especially close match (see letters 6 to 10) 23 “Non-musician” Brian 24 Buddy 25 Like a certain Freudian complex 29 Compensated for working extra hours (4 to 7) 31 Microblogging site 34 Ward of CSI: NY 35 Fall behind 36 Maker of thin PCs 37 Midpoint: Abbr.

38 Actress Anderson 39 AOC or Mayor Pete 40 Word after “snow” or “spare”

2 Targeted in archery 4 44 British meal that may be served at 4 pm (3 to 6) 47 Committed at the altar 48 Keep an ___ to the ground 49 Granola grain 52 NHL legend dubbed The Great One (5 to 9) 55 Registration table item 58 Cheese that’s made in reverse?

59 Churn up 60 Bond portrayer Roger 61 Moreno of West Side Story 62 Poker pot starter 63 Many vegetables, initially 64 Fitbit unit 65 Orbital period DOWN 1 Likeness 2 Idol worshipper, perhaps 3 Rental car company 4 Beyond serious 5 Work event?

6 Cheer loudly, like a crowd 7 Boys’ school in Berkshire

8 Unearth 9 Banned diet pill ingredient 10 “Cheers!” at Oktoberfest 11 “Will pay later” letters 12 Cronkite’s longtime network 13 Witness 21 Milky gemstone 22 End of a loaf or loafer 26 One working in plane clothes?

27 Maytag competitor 28 On the up-and-up 29 Nova network 30 Bone: Prefix 31 Spanish small bites 32 Stars-and-stripes land, for short 33 Prefix for “task” 37 Singers with silky voices 38 Mauna ___ 40 Prioritizes, in a sense 41 ___ 500 42 Handout at a planetarium 43 Not there?

45 Prince ___ Island 46 Make null and void 49 Layer that absorbs ultraviolet

radiation 0 Japanese dog breed 5 51 Tenth president 53 Mark up with a red pencil, say 54 44-Across platter 55 Online chat parts, briefly 56 Bambi’s mother, e.g.

57 ___ the line Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Tuesday, June 2, 2020

VIRGIN LABFEST 2020 ONLINE TAKES OFF IN JUNE

THE Cultural Center of the Philippines (CCP) presents 10 new works, three revisited works, and six staged readings in the 16th edition of Virgin Labfest, billed as VLF 2020 Kapit: Lab in the Time of Covid (A Virtual Labfest Lockdown Edition), which goes online for the first time from June 10 to 28, on CCP’s Facebook and YouTube pages.

In view of the Covid-19 crisis, CCP braves a new front and adjusts to new realities as the Virgin Labfest playwrights, directors and actors take steps to bring the annual festival of untried, untested and unstaged works to a virtual stage.

The three-week festival features 10 featured works; “Doggy” by Dustin Celestino, directed

by Roobak Valle; “Pilot Episode” by Floyd Scott Tiogangco, directed by Giancarlo Abrahan; “Dapithapon” by Jay Crisostomo IV, directed by Sigmund Roy Pecho; “Papaano Turuan ang Babae Humawak ng Baril” by Daryl Pasion, directed by Erika Estacio; “BlackPink” by Tyron Casumpang, directed by Jethro Tenorio; “Multiverse” by Juliene Mendoza, directed by Fitz Edward Bitana; “Titser Kit” by Jobert Grey Landeza, directed by Adrienne Vergara; “Mayang Bubot sa Tag-araw”

by Mark Norman Boquiren, directed by Mark Mirando; “Gin Bilog” by Luisito Nario, directed

by James Harvey Estrada and Anthony Kim Vergara’s “The Boyboy and Friends Channel” directed by Joshua Tayco.

All these plays will be premiere with live performances on CCP’s YouTube channel and Facebook page. From June 14 to 28, they will be streamed on iWanTV. The VLF Playwright’s Fair, one of the components of the theater festival, will be held online from June 11 to 14, 17 to 20, 25 to 27 at 8 pm.

A collaboration of the CCP Intertextual Division, the VLF Team and The Writers’ Bloc’s Rody Vera, the fair features Filipino writers. Other events include online discussion (June 18 to 21) and digital marketing platform for the expertise, services, publications and other products of writers of theatrical productions. Check out the Facebook page of VLF 2020 for the complete lineup of speakers and activities.

The Virgin Labfest 2020 Writing Fellowship Program will take place from June 16 to 28. It is a two week mentorship program for young aspiring playwrights on the study and practice of dramatic writing for the stage. The Fellowship Program will culminate in an online staged reading of the fellows’ works on June 28 at 2 and 5 pm.

More information is available at the CCP website and official social-media accounts, and the VLF Facebook account.

Randall Park (left) and Constance Wu appear in the hit comedy series Fresh Off the Boat. AP

Sitcom casts to do virtual reading for Asian Heritage Month THE casts of Fresh Off the Boat and Kim’s Convenience are partnering for one night for charity.

In honor of Asian Pacific American Heritage Month, the ensembles of both TV comedies will do live online table reads of their respective pilot episodes on Saturday, according to Deadline.

It will be a reunion for Randall Park, Constance Wu and the rest of the Fresh Off the Boat cast. The ABC series about a Taiwanese American family ended in February after six seasons.

Canadian sitcom Kim’s Convenience, which is available on Netflix, was recently renewed for a fifth and sixth season. It centers on a Korean family running a convenience store in Toronto. The show’s stars, include Paul Sun-Hyung Lee, Jean Yoon and Simu Liu—who is set to play the Marvel Cinematic Universe’s first Asian superhero.

Both trailblazing shows have been praised for their portrayals of Asian families on prime time TV. The table reads will be free to watch. But for a minimum donation of $10, access will be given to a joint Zoom Q&A afterward. Donations—either in US or Canadian dollars—will benefit Asian arts organizations in both countries.

The event is scheduled for 6 pm PDT/9 pm EDT on the Facebook and YouTube channels of organizer Seed&Spark. AP

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Rapper Sido performs at the Georg Schutz drivein cinema on April 26 in Dusseldorf, Germany.

From Keith Urban to EDM, drive-in concerts are your future now

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By Michelle Lhooq Bloomberg News

NE of the first drive-in concerts of the current pandemic era took place in mid-March, in the parking lot of a Los Angeles supermarket. The event was coorganized by online radio station Dublab, and local musicians took turns occupying a white van, fiddling with synthesizers and using an FM radio transmitter to broadcast ghostly synth tones into the stereos of around 50 cars in attendance. The night air was quiet and still, attendees reduced to shadowy silhouettes lounging in the safety of their vehicles. At the end of the show, a chorus of car horns and flashing lights served as applause.

Musician and event coorganizer Celia Hollander later told a circle of admirers: “I had this idea [before Covid-19], but felt the social isolation went against what I valued about live shows, so I never did it.” She chuckled. “Now, this was the most social thing I’ll do all week.”

Few could have predicted the current resurgence of drive-in entertainment, which has taken off as a global phenomenon in recent weeks. Everything from strip clubs in Portland, Oregon, to church services in Seoul have adopted the format, while drive-in movie theaters have evolved from quaint relics of a bygone era to some of the hottest tickets in town. It’s little surprise the battered live music industry, facing a year without concerts or festivals, is also seizing on driveins as a potential lifeline. Country star Keith Urban performed a surprise show one night recently for some 125 cars at a drive-in outside Nashville.

Industry leader Live Nation Entertainment Inc.— which saw a 25-percent drop in concert revenue in the first quarter of 2020—recently announced a series of car-centric concerts called Drive-In Live, a multi-artist tour through four Danish cities this summer that will even turn the parking lot of the Copenhagen Airport into a drive-in venue.

Each drive-in concert will accommodate 600 cars, with tickets charged per car and up to five people welcome per vehicle. Live Nation’s President and Chief Executive Officer Michael Rapino compared this to more intimate music venues. “There are a lot of great artists that can sell out an arena, but they’ll do 10

higher-end, smaller theaters or clubs,” Rapino told his investors on an earnings call last week. “We can make the math work.” Reduced-capacity is, after all, the new reality, from theme parks to restaurants to genuine concert venues. Whether drive-in concerts can become a new norm structure for live music, the way paid Zoom clubs and livestreams have for nightlife, remains to be seen.

For big stadium artists, or upbeat genres that spark irresistible urges to dance, the fit can be especially awkward. Marketing agency Seerendipity provided Bloomberg with results of a social media poll of over 1,000 past attendees of Made Events, the New Yorkbased organizer behind the Electric Zoo festival and hundreds of other concerts: Some 38 percent of respondents said they would not attend a drive-in show. The music fans also voiced concerns around environmental impact, the availability of bathrooms, and drunk driving.

Alcohol revenue is an open question. Both live music venues and promoters have been traditionally dependent on liquor sales, sometimes with artist fees adjusted according to bar guarantees. But with most drive-in theaters prohibiting booze, concert organizers will have to find alternative revenue to become a sustainable model for live music in the age of social distancing—or remain just a test-drive that never leaves the lot.

Electronic musician Marc Rebillet is hoping, like Live Nation, that fans will see this as a premium experience. Tickets to his shows usually go for $15 to $25, but this June he will embark on America’s first drive-in music tour, charging around $50 per person in required batches of at least two.

“The margins are very thin,” adds Rebillet, noting that alcohol will not be sold, but he hopes to incorporate food delivery to cars by workers in masks and gloves for later stops on the tour, following guidelines from the Centers for Disease Control and Prevention. The five-city tour includes stops in Houston, Kansas City, Missouri, and Charlotte, North Carolina. “We’re hoping people are willing to pay a premium to be around each other, and are banking on them buying merch and concessions,” Rebillet says. “Still, it’s not my most profitable tour.”

“The overhead is higher due to the fact that many drive-through theaters are exclusively equipped

for films,” explains Rebillet’s music agent Adam Ogushwitz. “We are building these events from the ground up, including staging, cameras, and video production.”

In the absence of liquor sales, brand sponsors could offer a boon. At one of Live Nation’s recent drive-in concerts with Danish singer-songwriter Mads Langer, large screens flashed the logo of the event’s sponsor, Skousen, a Danish home appliance chain.

“Millions of dollars have already been earmarked in budgets for festivals, and if those events don’t take place, big money guys like T-Mobile and Mastercard will put the money elsewhere,” noted Seerendipity founder Michael Julian. “Sponsors are definitely thinking about how to put that money into livestreams, virtual festivals, and drive-in shows.”

Promoters and artists also need to rethink how to recapture the electricity of a live concert experience when artist-audience interactions are severely limited by the constraints of vehicles. Is it enough to simply just put a performer onstage and pipe in music through car stereos? For some fans, maybe.

Curiosity and novelty may drive initial sales. For less-ardent concertgoers, though, if the experience isn’t fun—if it doesn’t offer the social connection or catharsis that live events usually provide—they might not come back to see a second event. Rebillet considers it an exciting challenge: “I’m having a blast thinking of ways to creatively engage the crowd in different ways—through car horns, lights, and windshield wipers,” he says.

At a 250-car drive-in rave held earlier this month in the parking lot of German nightspot Club Index, lasers and fire cannons accompanied a pounding set by DJ Devin Wild, who produced a track called “Smash Your Horn” just for the occasion.

“People were smashing their horns, and sometimes you’d see fists pumping through the windows,” Wild says, noting that “some people had trouble staying in their cars.”

“I kept hearing from people about how bad they needed this,” says Ben Ballinger, a folk singersongwriter who threw a 25-car drive-in show in an open field in Austin, Texas, on May 7. The pandemic had allowed him to see drive-ins in a new light: What once seemed strange is now seductive. n

‘Anak ni Waray vs. Anak ni Biday’ offers series of fun vlogs EVERY Monday beginning June 1, join the cast of Anak ni Waray vs. Anak ni Biday as they try their hand at vlogging and channel their characters for a series of fun vlogs to be uploaded on GMA’s official social-media accounts.

Prior to the suspension of tapings due to the Covid-19 pandemic, viewers were glued to their TV screens with the riveting plot twists in the primetime soap.

Upon discovering that the apple of Cocoy’s (Migo Adecer) eye is her best friend, Caitlyn (Kate Valdez) got into a heated confrontation with Ginalyn (Barbie Forteza) and things ended on bad terms. With Caitlyn’s firm decision not to forgive the remorseful Ginalyn, will this be the end of their friendship?

For those who have missed the rivalry between friends-turned-mortal enemies Ginalyn and Caitlyn, the cast treats its loyal viewers to relatable vlogs this June.

After cutting ties with Caitlyn and Cocoy,

BARBIE FORTEZA

Ginalyn released an apology vlog on June 1, titled “My First Solo Vlog!! Sorry Vlog for my Sishie,” which centered on ways on how to let go of a relationship.

Drama ensues the following Monday, June 8, as Caitlyn, played by Kate, posts

KATE VALDEZ

a reaction vlog, titled “My Reaction to My (Snake) Friend Apology! Plus Tips on How to Spot That (Snake) Friend,” and exposes Ginalyn’s alleged betrayal after finding out her boyfriend Cocoy and the latter are sort of an item.

On the third vlog (June 15), real-life YouTube vlogger Benedict Cua, who portrays the role of Benny in the primetime soap, a famous charismatic vlogger of Filipino-Chinese descent and Caitlyn’s best friend, empathizes with people who are secretly in love with their best friends.

In his vlog “BFF Love 101,” Benny gives his two cents on how to express love for your best friend, although soon he realizes that he’s the one who can’t be true to what he feels for Caitlyn.

Don’t miss Anak ni Waray vs. Anak ni Biday’s exciting series of vlogs beginning June 1, every Monday at 8 pm, only on GMA Network and GMA Drama’s official Facebook and YouTube accounts.

Viewers from across the globe can also catch their favorite shows via GMA’s international channels GMA Pinoy TV, GMA Life TV, and GMA News TV International.

More information is available at www. gmapinoytv.com.

B6 Tuesday, June 2, 2020

SM Foundation scholar tops Civil Engineering class in Naga

#SafeMallingatSM: Customers’ safety and convenience on top priority at MOA

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S we nav6igate and adapt to the new normal, SM Mall of Asia, aims to assist with your day to day needs, with customers’ safety and convenience at its top priority. Compliant with the government’s mandate of gradual reopening of businesses, the mall remains to be at the forefront of practicing stringent safety protocols for its customers, employees and tenant partners.

In line with the #SafeMallingatSM campaign, SM MOA continues to apply its meticulous safety protocols and enhances it further by strictly following government guidelines on social distancing and safe malling.

Upon entering the mall’s premises, state-of-the-art thermal scanners are used for temperature checks of all mallgoers. Reminders and guides for social distancing are visible all throughout the mall’s premises and are strictly followed for everyone’s safety. “No mask, no entry” is strictly implemented.

The mall is also sanitized carefully

before opening and after closing, and several times within the day, with alcohol and sanitizers offered to all customers upon entering, and in all restrooms.

With these stringent safety guidelines in place, Mall of Asia takes its customer service a step further and reaches those at home, by bringing your favorite and iconic mall DIRECTLY TO YOU with its customer service solutions that ensure safe and convenient shopping from your most favorite and well-loved restaurants and shops in MOA, all at the convenience of your homes.

MOA ASSISTANCE: Talk to us directly on Facebook Messenger for inquiries, list of open establishments and restaurants, and to place orders.

Get a preview of what you need and confirm exactly its availability before you purchase with the Online Dining and Lifestyle Menu, updated and accessible daily thru the following links; Lifestyle: https://bit.ly/2A7mFX6 and Dining: https://bit.ly/3eibY2n

MY MOA SHOPPER: Shop from the convenience of your home with direct personal shoppers and have it delivered straight to your doorstep. We have partnered with the best delivery service providers in the metro, to ensure you can safely enjoy shopping from your favorite restaurants and brands, all without leaving the comfort of your homes.

MOA DRIVE THRU PICK UP: Order online and drive thru pick up.

For those who still wish to do their own personal shopping, you can directly pick up your orders from the convenience of your car at designated pick-up points around MOA Complex.

At SM Mall of Asia, your safety and convenience is our utmost priority and we will continue to provide you with the best solutions for all your needs. As we embrace the new normal, no other mall comes close in providing the best customer experience, and together we are with you every step of the way.

‘Ascott Cares’ launched to raise standards of cleanliness, provide safe homes for guests

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APITALAND’S wholly owned lodging business unit, The Ascott Limited (Ascott), will review the design of its lodging products and services to ensure they are future-ready for continued growth in a post COVID-19 landscape.

Leveraging the existing design strengths of Ascott’s serviced residences, it will redefine the guest experience to take advantage of emerging trends such as the increased popularity of working-from-home, deeper health and safety concerns, and a rapidly digitising world.

Kevin Goh, Chief Executive Officer, Lodging, CapitaLand Group and Chief Executive Officer, The Ascott Limited, said: “Ascott’s serviced residences have remained resilient amid COVID-19. We continue to be the accommodation of choice by providing a safe haven for our guests who have placed their trust in Ascott. To cement Ascott’s position as a dominant lodging player and deliver more value for our guests and business partners, we are taking steps to ready Ascott for a post COVID-19 landscape. Ascott’s strong base of long-stay and corporate guests who appreciate the comfort, privacy and security of our spacious serviced residences remain the cornerstone of our business. We are working to doubledown on this competitive advantage.”

“Ascott is reviewing every touchpoint within the living and workspaces of our apartments to tap on the work-from-home trend. We are also improving our digital solutions and looking at leveraging smarter technologies

to provide value and safety to our guests. As global and domestic travel restrictions ease, we have also launched ‘Ascott Cares’ to reassure our guests and staff that we have stringent cleanliness and hygiene measures in place as we welcome new and returning guests home,” added Goh. Redesigning Ascott’s serviced residences to tap on new trends Currently, Ascott’s spacious serviced apartments are already well-suited for guests who choose to stay indoors for extended periods of time. The separate living, working and dining areas offer ample space for guests to unwind, exercise, work or have their meals within the apartment.

Guests can also make use of the fully equipped kitchen and refrigerator within the apartment if they do not want to order meal delivery. With high-speed Wi-Fi, guests can stay in touch with their loved ones or attend and host online meetings with their colleagues.

To tap on the work-from-home trend, Ascott is looking at upgrading its design to create a more productive workspace within the serviced apartment. Improvements to the overall ergonomics of the workspace may include better task lighting, better use of space and appropriate wall features suited for videoconferencing or webcasting.

Digital solutions and technologies may also be further deployed to provide convenience, value and safety to guests. The use of sensors at Ascott properties can offer better safety through thermal scanning or to track footfall and crowds to facilitate better safe distancing measures, as well as smarter room energy and water management.

Ascott will increase adoption of mobile technology including the launch of a new mobile app later this year.

A one-stop service, the app will offer guests contactless services such as contactless entry to their apartments, payments, check-in and check-out. It can also provide seamless in-room service and smart controls, management of Ascott Star Rewards loyalty points or redemption of special flash deals.

‘Ascott Cares’ covers nine commitments to enhance Ascott’s existing cleanliness protocols: 1. Our Staff’s Work Environment 2. Guest Safety 3. Physical Distancing 4. Housekeeping 5.

Apartments & Rooms “we define global living” 6.

Food & Beverage 7. Shared Facilities 8. Contactless & Paperless 9. Our Vendors The comprehensive protocols that are in compliance with the World Health Organization standards and local regulations will be rolled out progressively to its properties globally from June 2020.

For more information on ‘Ascott Cares’, please refer to the Annex or visit www.the-ascott.com/ascottcares.

Alfred Ong, Head, Global Operations, The Ascott Limited, said: “Ascott has always placed the safety and well-being of our guests and staff as our top priority. ‘Ascott Cares’ reaffirms our commitment to deliver high standards of cleanliness. Safe distancing in shared spaces and increased santisation will be part of the new normal. A health and hygiene champion will also be appointed in each property to uphold these standards and act as an official liaison with local health authorities to ensure compliance with the latest regulatory health measures."

In Singapore, Ascott properties that have achieved the National Environment Agency’s SG Clean certification include Ascott Raffles Place Singapore, Citadines Rochor Singapore and lyf Funan Singapore.

Ascott Orchard Singapore is expected to receive its certification in June Ascott Cares, our Commitment to Hygiene and Cleanliness All around the world, as The Ascott Limited (Ascott) welcomes you back to its properties the-ascott.com In the United Kingdom, Ascott is recently recognized by the Association of Serviced Apartment Providers for being an International Serviced Accommodation Accreditation Process (ISAAP) Quality Accredited and Compliance Assured Provider. To achieve the award, Ascott had to satisfy more than 250 rigorous ISAAP quality considerations in addition to prescribed regulations and best practice standards of safety, security and a duty of care.

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HROUGH hard work and determination, SM Foundation (SMFI) scholar Miel Carlo Reganit was the class valedictorian and cum laude of BS in Civil Engineering Batch of 2020 at the University of Nueva Caceres (UNC) in Naga City.

Miel expressed his deepest gratitude to those who helped and inspired him to finish tertiary education, “I feel truly honored and blessed to graduate with honors. I dedicate this to my family. I am truly grateful to God for giving me the opportunity to study and achieve my dreams through SM Foundation.

I will always be grateful to SM and to Tatang Henry Sy Sr.” As a student, Miel was active in academic and extra-curricular activities, as well as in national contests in the field of Civil Engineering, which further enhanced his skills and knowledge. He was regarded by the Philippine Institute of Civil Engineers (PICE) - UNC Student Chapter as “pride of civil engineering students who proved himself exceptional when it came to leadership.”

A hardworking and dedicated student, Miel proved that nothing could stop a talented and passionate person to succeed in life. His father is currently bedridden after suffering from series of heart attacks – which prompted her mother to work and be the breadwinner for the family. The youngest of three siblings, Miel has been helping his mother in selling meat at the Calabanga Public Market in Camarines Sur. He also helps her manage their sari-sari store at home.

Miel said he is currently focused in

Miel Carlo Reganit

reviewing for the Civil Engineering Board Exam as he plans to eventually go back to the academe to teach.

“I plan to work for a construction/design firm for at least 2 years to harness field experience then enter the academe again. This way, I can share my knowledge and expertise to students. I see this as a way of spreading kindness, similar to what SMFI has done for me,” he ended.

SMFI, through its Scholarship program, provides deserving and qualified students with access to college education and technicalvocational studies since 1993. To date, SMFI has produced almost 5,500 scholars all over the country.

Schneider Electric Explores Strategies for Empowering Digital Transformation and Business Continuity for Innovation Day 2020

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CHNEIDER Electric will be holding Innovation Day 2020 for East Asia on June 4, 2020. The virtual event will run from 10AM to 3PM, with on-demand content available after the session. This year’s Innovation Day focuses on the theme,“Resilient Digital Transformation” and explores strategies for empowering digital transformation and business community.

Innovation Day 2020 is a mix of inspiring keynote addresses with interactive Q&A opportunities, strategy talks, customer stories, as well as technical and informative expert learning sessions. The virtual sessions feature a roster of international speakers and industry experts from Schneider Electric and partners from Canalys, HP Enterprise, AVEVA, Stratus, IDC, DELL, and STL Partners, among others. Attendees may also explore Schneider Electric’s Virtual Innovation Hub

and may access key insights on the latest market trends, innovation, offers, and solutions in the IT landscape.

Among the topics to be discussed in the virtual sessions are: Powering and Digitizing Data Centers; the Future of Innovation and Strategic Transformation; Intuitive Industries Reimagined; Building a Digitally Resilient Enterprise; and Building Sustainable and Resilient Edge Data Centers.

Simultaneous expert learning sessions for IT and data center professionals, IT resellers and solutions providers, and facility professionals, contractors, consultants, and industrial system integrators are also lined up for registered attendees.

“Digital access is essential to our lives. Schneider Electric helps our partners and customers deploy resilient systems that are connected, efficient, integrated, and reliable in the cloud and at the edge. Innovation Day 2020 is an opportunity for us to showcase the latest in the field and to help businesses that are either managing continuity or undergoing a transformation,” explained Alexandre Vermot, Country President, Schneider Electric Philippines.

IT professionals, data center professionals, facility professionals, contractors, consultants, and IT business resellers are invited to attend Innovation Day 2020. Registration to the event is free of charge. Interested individuals may register on the event page at https://seinnovationday-en.vevent.se.com/.

On the alleged unpaid claims to PHAPi hospitals

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HILHEALTH categorically denies as unfounded, malicious and irresponsible the statement made by Dr. Rustico Jimenez that 300 or so private hospitals are facing closure due to delayed payments

by PhilHealth. From Jan 1 to May 29, 2020, PhilHealth has disbursed a total of Php 52.53 billion in claims payment and Interim Reimbursement Mechanism (IRM).

Payment of claims amounted to Php 38.6 B which includes Php 4.74 billion paid through its accelerated Return to Hospital (RTH) initiative. Php13.93 billion was released under the Interim reimbursement mechanism. Of claims paid, Php21.8 billion ((56.5%) were paid to private facilities.

Claims reimbursements were processed at an average turnaround time of 41 days with a denial rate of 2%. The increase in turn around time is due to adjustments for the Covid19 pandemic.

PhilHealth has earlier published a statement explaining the purpose and reconfiguration of the IRM program in order to husband its funds for the long term while concentrating on areas with high Covid19 incidence. PhilHealth has never issued a “promise” of IRM release to all hospitals. This was a misinterpretation of Dr. Jimenez’.

PhilHealth does not recognize Dr. Jimenez as a legitimate representative of any hospital association because of his historical pattern of wild and unfounded accusations. Earlier this year, Dr. Jimenez threatened non-renewal of accreditation by his hospital members for alleged late PhilHealth payments. When directly queried, hospitals denied any such intention and proceeded with their renewals including Dr. Jimenez’ own Medical Center Paranaque which has received an IRM of P6 million and P28 million in benefit payments in 2019. It seems that Dr. Jimenez does not speak for these hospitals he claims as members of PHAPi. In a meeting in Malacanang last year PhilHealth President Ricardo Morales and Dr. Jimenez agreed to resolve the alleged late

payment issue by making each hospital meet directly with their PhilHealth counterpart staff at their respective levels to reconcile their books of accounts. Those hospitals which complied have reported satisfactory results.

Unfortunately, some hospitals which ignore PhilHealth claims procedures and fail to comply with data quality standards continue to experience denial or return of claims causing avoidable delays.

While Dr. Jimenez is accusing PhilHealth of delayed payments, the Corporation is also facing accusations from other quarters of doing exactly the opposite – illegal overpayments. PhilHealth is trying to balance on a razor’s edge to settle each claim quickly in the most fair and equitable manner possible.

It is unfortunate that Dr Jimenez chooses a publicity stunt instead of the mutually agreed upon procedure of account reconciliation by both parties. PhilHealth will not be threatened by what amounts to blackmail into paying out public funds without due diligence.

PhilHealth’s Legal Department is now exploring filing libel charges against Dr. Jimenez at the same time its regional staff continues to work directly with all its hospital partners to resolve the issue of account reconciliation.

Executing the Universal Health Care Law, even without the Covid19 pandemic was already a daunting task. Under these more difficult conditions the Corporation keeps it sight on its mission - to provide adequate, available and affordable health care to all Filipinos when they need it. It enjoins all Filipinos to work with it in this most noble of all undertakings.

Mabuhay Ang Universal Health Care!

Mabuhay Ang Pilipinas!

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

Sports BusinessMirror

Tuesday, June 2, 2020

B7

‘LIKE BIG BROTHER WILL BE WATCHING’ Virus-proofing facilities presents big challenge M

WEST Virginia players high-five fans after defeating Kansas, 38-22, in an NCAA college football game in Morgantown, West Virginia, in October 2018, as a fan washes his hands at a new disinfection station in the stadium prior the German Bundesliga match between Borussia Dortmund and SC Freiburg in Dortmund, Germany, in Febraury. AP

By Dave Skretta

K

The Associated Press

ANSAS CITY, Montana—The coronavirus pandemic that brought sports to a standstill for months has everyone wondering what games will be like when spectators are finally allowed back in. It will almost surely be different in ways big and small.

Fans could have their every move scrutinized by cameras and lasers. There might be nobody in the next seat to high-five after a touchdown.

The idea of passing cash to a beer vendor between innings will be a memory. Temperature screenings and medical checks could be

mandatory. Virtual tickets will be the norm.

It all begs the question: Will fans even be able to enjoy the experience again?

“There’s a wealth of unanticipated casualties, I guess, that are going to be part of this, things we all took for granted as part of the live game-day experience,” explained Nate Appleman, director of the sports, recreation and entertainment practice for Kansas City-based architectural firm HOK. “Some things we have yet to fathom but will become painfully clear once we are allowed back into venues and get back to truly human nature,

SAINT LOUIS Cardinals All-Star Paul DeJong: There is a fine line between what the league can do to protect us and some things they can do to kind of exert power over us. AP

which is to gather and celebrate community.”

Some leagues are returning with few or no fans, including soccer in Germany, stock car racing in the US and baseball in Japan. But as sports ramp up, The Associated Press found during interviews with more than two dozen experts in stadium design and infrastructure that the only thing that might look the same is what happens on the field of play.

The biggest short-term change will be social distancing, which already has permeated everyday life. Ticket sales will be capped. Entire rows and sections blocked off. Seats on the aisle left open to keep a buffer from fans walking up the stairs. Fans will be given an entrance time to prevent crowding at the gates. Lines at restrooms and concessions will be limited. Congregating in the corridors will no longer be allowed.

“There’s the old saying, ‘Necessity is the mother of invention.’ I would say we’re in a heightened situation of necessity right now,” Appleman said. “There are a lot of really smart people coming up with really cool initiatives that could just be a new way of doing things, and new isn’t always bad. Sometimes change is good.

Sometimes we have to adapt.”

Those plans bring both hope and fear: hope that some fans will be able to see their favorite teams in action, and fear that places that rely heavily on ticket sales will be able to make ends meet.

Mercedes-Benz Stadium, the home of the Falcons and Atlanta United, already has cashless systems in place for merchandise and concessions. Several professional teams are in talks with motion analytics company iinside, whose SafeDistance system uses lasers to map spaces and measure crowd density. At KeyBank Center in Buffalo, New York, a company called WaitTime utilizes an app to tell Sabres fans how long lines are at restrooms and concessions.

MLB players offer 114-game season, no more pay cuts

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EW YORK—Major League Baseball (MLB) players ignored claims by clubs that they need to take additional pay cuts, instead proposing they receive a far higher percentage of salaries and a commit to a longer schedule as part of a counteroffer to start the coronavirus-delayed season.

Players proposed a 114-game regular season Sunday, up from 82 in management’s offer, a person familiar with the plan told The Associated Press. Done that way, the World Series could extend past Thanksgiving.

The person spoke on condition of anonymity because no details were announced.

Opening day would be June 30 and the regular season would end October 31, nearly five weeks after the September 27 conclusion that MLB’s proposal stuck to from the season’s original schedule. The union offered scheduling flexibility to include more doubleheaders as baseball crams the games into 123 days, leaving little room for days off.

MLB’s proposal Tuesday would lower 2020 salaries from about $4 billion to approximately $1.2 billion. The union’s offer would have salaries total about $2.8 billion.

The plan was given to MLB during an 80-minute digital meeting among Commissioner Rob Manfred, deputy commissioner Dan Halem,

union head Tony Clark and union chief negotiator Bruce Meyer. The meeting was contentious, a person familiar with it said.

Like MLB, the union would increase postseason teams from 10 to 14. But unlike MLB, the players’ proposal would extend the postseason about a month past its usual end.

MLB has said it is worried about a second wave of the coronavirus in the autumn.

While management proposed an expanded postseason for 2020 only, the union offered it for this year and next.

Players proposed new events that could increase revenue, such as a postseason or offseason All-Star Game and/or Home Run Derby, to wear broadcast microphones on the field and participate in television programming away from ballparks.

They also asked for $100 million more in salary to be advanced during the resumption of spring training.

A player would receive about 70 percent of his salary, or 114/162nds, under the union plan.

The union and MLB agreed March 26 that players would receive prorated shares of salaries, part of the deal in which if the season is scrapped each player was guaranteed service time for 2020 matching what the player earned in 2019. The union also was

guaranteed $170 million in salary advances.

While the union says salaries were dealt with then, that agreement covered only games in regular-season ballparks and with fans. The deal called for “good faith” negotiations for games without fans or at neutral sites.

MLB told the union that players would get 89 percent of revenue in an 82-game schedule with prorated salaries and clubs would combine to lose $640,000 for each additional game. The union has questioned the accounting.

MLB’s offer called for spring training to resume in mid-June and for the season to start around the Fourth of July. The club proposal would take the prorated salaries and reduce them again in a sliding scale. Those at the $563,500 minimum would get about 47 percent and those at the top—led by Mike Trout and Gerrit Cole at $36 million—would receive less than 23 percent. Management proposed $200 million of salaries would be contingent on the postseason’s completion.

All players would have the right to opt out of the season under the union plan. Those who meet qualifications for high risk or reside with a person who qualifies as high risk would receive salary and major league service.

Others who opt out would receive major league service time but no salary. AP

It all sounds a bit Orwellian—like Big Brother is watching you. The systems dance a fine line between informative and intrusive. But they also could mitigate the threat of spreading a virus, and that could make it all worthwhile.

“We’re extrapolating off these trends that have already existed, and I think we’re going to kick-start into 2025 even though it’s only 2020,” said Jason Jennings, director of strategy and digital integration for the sports and entertainment group at Mortenson, which is wrapping up construction on the Raiders’ new $2.4 billion stadium in Las Vegas. “The technology is going to be deployed much faster because of the value it has for the fan experience and public health.”

Even the way facilities are cleaned will change. No longer will hosing down seats and sweeping up trash left by fans be enough.

Venue giant ASM Global recently announced a new hygiene protocol for its 325 facilities worldwide, noting the importance of hewing to international health recommendations from the likes of WHO and the CDC. Few professional teams have been willing to divulge their full reopening strategies, whether that be potential seating layouts or infrastructure upgrades designed to keep fans safe. That’s because the rapidly changing social and political environment coupled with the unpredictable nature of the virus have made planning difficult.

“In large masses, there is no system that can effectively prevent another person from giving germs to a second individual,” said Philip Tierno, a clinical professor of pathology at New York University’s Grossman School of Medicine.

“If they sneeze or cough or talk directly, or even breathe directly on a person, there is no system that can prevent that.”

INNEAPOLIS—The jersey-wearing camaraderie. The scent of sizzling sausages. The buzz before a big game.

The distinctive atmosphere of live sports, that feeling in the air, will return in time as pandemic restrictions are eased. But will that very air be safe in a closed arena with other fans in attendance?

The billions of dollars spent on state-of-theart sports facilities over the last quarter-century have made high-efficiency air filtration systems more common, thanks in part to the pursuit of green and healthy building certifications.

Upgrades will likely increase in the postcoronavirus era, too.

The problem is that even the cleanest of air can’t keep this particular virus from spreading; if someone coughs or sneezes, those droplets are in the air. That means outdoor ballparks have high contaminant potential, too.

“Most of the real risk is going to be shortdistance transmission, people sitting within two, three or four seats of each other,” said Ryan Demmer, an epidemiologist at the University of Minnesota’s School of Public Health. “It’s not really about the virus spreading up, getting into the ventilation system and then getting blown out to the entire stadium because this virus doesn’t seem to transmit that way. It doesn’t aerosolize that well.”

The three hours spent in proximity to thousands of others is part of the fan experience. It’s also why major sports leagues have been discussing plans to reopen in empty venues, for now. High-touch areas with the potential to spread the virus—called fomite transmission—are plentiful at the ballgame, of course. Door handles. Stair rails. Restroom fixtures. Concession stands.

Hand washing by now has become a societal norm, but disinfectant arsenals need to be brought up to speed, too.

“I can’t really find good hand sanitizer easily in stores. So think about trying to scale that up, so everybody who comes into U.S. Bank Stadium gets a little bottle of Purel. Things like that can be modestly helpful,” Demmer said.

There is much work to be done. Vigilant sanitizing of the frequent-touch surfaces will be a must. Ramped-up rapid testing capability during pre-entry screening could become common for fans. Minimizing concourse and entry bottlenecks, and maintaining space between nonfamilial attendees, could be mandatory. Mask-wearing requirements? Maybe.

Most experts, including those at the Center for Disease Control and Prevention, believe the primary mode of transmission for Covid-19 is close person-to-person contact through breathing, coughing or sneezing but there’s no consensus on some of the details.

“There’s still widespread disagreement between experts on which mode of transmission dominates for influenza. So the likelihood of us figuring this

out soon for this virus is low,” said Joe Allen, director of the Healthy Buildings Program and an assistant professor at Harvard’s School of Public Health. “We may never figure it out, but I also think it’s irrelevant because it’s a pandemic and we should be guarding against all of them.”

Including, of course, the air.

The American Society of Heating, Refrigeration and Air Conditioning Engineers designed the Minimum Efficiency Reporting Value (MERV) scale to measure a filtration system’s effectiveness (from 1-16) at capturing microscopic airborne particles that can make people sick. Not just viruses, but dust, pollen, mold and bacteria. Most experts recommend a MERV rating of 13 or higher, the minimum standard for Leadership in Energy and Environmental Design (LEED) certification.

An emerging technology in this area is called bipolar ionization. Connecticut-based AtmosAir has a bipolar ionization air treatment system in about 40 sports venues. Staples Center in Los Angeles was one of the first major sports customers. TD Garden in Boston and Bridgestone Arena in Nashville are among the others who’ve signed on.

The Minnesota Sports Facilities Authority approved last year a 10-year contract for a little more than $1 million with AtmosAir to install its system in US Bank Stadium, home of the Vikings and the first indoor NFL stadium to use it. The building, which measures 1.8 million square feet, has 53 air handling units with AtmosAir tubes installed, including 30 in the seating bowl.

The ions act like fresh air, reducing the amount of outside air needed to be introduced for the cleansing process. The protein spikes in the coronavirus particles make them easier to catch and kill, said Philip Tierno, a New York University School of Medicine professor of microbiology and pathology.

Said AtmosAir founder and CEO Steve Levine: “We’re never going to create a mountaintop, but we’re going to put in maybe three to four times the ions over the ambient air and then let those ions attack different pollutants in the air. The ions grab onto particles and spores and make them bigger and heavier, so they’re much easier to filter out of the air.”

The next time fans do pass through the turnstiles, in a few weeks or a few months, in most cases they will probably encounter an unprecedented level of cleanliness.

“There will be some controls that are visible, extra cleaning and disinfection, but some of it will be invisible, like for what’s happening in the air handling system,” said Allen, the Harvard professor. “The consumers will decide when they feel comfortable going back, and that’s going to depend on what strategies are put in place in these venues and stadiums and arenas and, most importantly, how well these organizations communicate that to the paying public.” AP

FANS toss confetti to mimic then Cleveland Cavaliers’ LeBron James’s pregame chalk toss before their National Basketball Association game against the Washington Wizards in Cleveland in December 2008. AP

Sports BusinessMirror

B8 Tuesday, June 2, 2020

JORDAN: I’M PAINED AND ANGRY!

‘I stand with those who are calling out the ingrained racism and violence toward people of color in our country. We have had enough.’

BUTCH, BAMBOL IN ONLINE FORUM

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HE country’s top sports officials— Philippine Sports Commission (PSC) Chairman William “Butch” Ramirez and Philippine Olympic Committee (POC) President Abraham “Bambol” Tolentino are the main guests in the first-ever Philippine Sports Association (PSA) Forum videoconferencing on Tuesday.

Ramirez is expected to talk about the effects caused by the global pandemic to Philippine sports in general, while Tolentino will address the possible steps to be taken by the POC wrought by the postponement of the Tokyo Olympics for next year.

Ramirez will headline the first part at 10 a.m., followed by Tolentino at 11 a.m.

The weekly Forum is holding its first session under a new platform amid the Covid-19 pandemic. The regular sports program was last held January 27 or about a month before the PSA Annual Awards Night.

The session will still be shown live via the PSA Facebook page fb.com/ PhilippineSportswritersAssociation and will be shared in the facebook page of longtime partner Radyo Pilipinas 2.

The PSA Forum is presented by San Miguel Corp., Amelie Hotel, Braska Restaurant, Philippine Amusement and Gaming Corp. and Go For Gold and powered by Smart.

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By Ramon Rafael Bonilla

ORDAN CLARKSON couldn’t hide his anger and so were new Meralco Bolt Aaron Black and San Miguel Beer guard Chris Ross as they aired their protest surrounding the death of George Floyd and two other colored Americans over the past week in the US. Clarkson, the Filipino-American guard who played for the LA Lakers and Cleveland Cavaliers and now wears a Utah Jazz jersey, aired his protest along with his former Cavaliers teammate JR Smith.

“I witnessed a peaceful protest. A lot of emotion and unity, the time for change has been passed...don’t forget the message because of the tone that is projected in,” Clarkson said in his social-media account.

Philippine Basketball Association players Black and Ross also couldn’t keep their emotions to themselves.

“As a half black American [that] was raised here in the Philippines, I can truly say that different races can coexist without all the hate. [It] starts with accepting other people as they are and not stereotyping based on one’s skin color or culture,” Black said on Twitter.

Black, playing out of Ateneo, was recently signed by Meralco where he joined his father and coach Norman Black.

“Let’s do our part and speak up against not only racism in the US but the injustices happening around us here in the Philippines as well. Together we can make a

C

HARLOTTE, North Carolina—Michael Jordan is “deeply saddened, truly pained and plain angry.”

With protesters taking to the streets across the United States again Sunday, Jordan released a statement on George Floyd and the killings of black people at the hands of police.

“I am deeply saddened, truly pained and plain angry,” the former National Basketball Association (NBA) star and current Charlotte Hornets owner said in the statement posted on the Jordan brand’s social-media accounts and the team’s Twitter account.

“I see and feel everyone’s pain, outrage and frustration. I stand with those who are calling out the ingrained racism and violence toward people of color in our country. We have had enough.

“I don’t have the answers, but our collective voices show strength and the inability to be divided by others. We must listen to each other, show compassion and empathy and never turn our backs on senseless brutality. We need to

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ERLIN—Four young soccer players in Germany’s Bundesliga addressed the death of George Floyd in the United States with protests against police brutality and calls for justice over the weekend.

England’s 20-year-old winger Jadon Sancho, 21-year-old Morocco right-back Achraf Hakimi and 22-year-old Marcus Thuram made statements on the field on Sunday, following the example set by Schalke’s American midfielder Weston McKennie, 21, the day before.

Sancho scored his first hat trick in Borussia Dortmund’s 6-1 win at Paderborn with no fans present, but removed his jersey after his first goal to reveal a t-shirt with the handwritten message “Justice for George Floyd” on the front.

“First professional hat trick,” Sancho said on Twitter. “A bittersweet moment personally as there are more important things going on in the world today that we must address and help make a change. We have to come together as one & fight for justice. We are stronger together!”

Sancho was given a yellow card for taking off his jersey, but it didn’t stop teammate Hakimi from lifting his shirt to reveal the same message after he grabbed Dortmund’s fourth goal in the 85th minute.

Floyd, a handcuffed black man, died Monday after a white Minneapolis police officer, Derek Chauvin, pressed his knee for several minutes on his neck.

Earlier, Thuram took a knee after scoring in Borussia Mönchengladbach’s 4-1 win over Union Berlin. The Gladbach forward scored in the first half and then dropped his left knee to the ground and rested his right arm on his right thigh as

continue peaceful expressions against injustice and demand accountability. Our unified voice needs to put pressure on our leaders to change our laws, or else we need to use our vote to create systemic change. Every one of us needs to be part of the solution, and we must work together to ensure justice for all.

“My heart goes out to the family of George Floyd and to the countless others whose lives have been brutally and senselessly taken through acts of racism and injustice.”

Floyd was in handcuffs a week ago when a Minneapolis police officer pressed his knee into his neck as he pleaded that he couldn’t breathe. Derek Chauvin was charged Friday with third-degree murder and second-degree manslaughter.

SILVER ADDRESSES TENSION

NBA Commissioner Adam Silver sent a memo to the league’s staffers Sunday night to address the latest racial tensions in the country, sparked most recently by the death last week of a black man who was in handcuffs when a Minneapolis

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

MICHAEL JORDAN: My heart goes out to the family of George Floyd and to the countless others whose lives have been brutally and senselessly taken through acts of racism and injustice.

Vincent Juico @VJuico Instagram vpjp_j, vince.juico@gmail.com

SPORTS WITHOUT BORDERS

‘Usapang PSL’ police officer pressed his knee into his neck as he pleaded that he couldn’t breathe.

Silver’s memo, a copy of which was obtained

by The Associated Press, made reference to that Minneapolis man, George Floyd—as well as Ahmaud Arbery, a 25-year-old black man chased and killed by armed white men as he jogged through a south Georgia neighborhood, and Breonna Taylor, a black emergency medical worker who was fatally shot by police serving a narcotics search warrant in Kentucky.

“Just as we are fighting a pandemic, which is impacting communities and people of color more than anyone else, we are being reminded that there are wounds in our country that have never healed,” Silver wrote in the memo.

Silver told staff in the memo that he spent the weekend watching the coverage of protests around the country, adding that he was “heartened by the many members of the NBA and WNBA family...speaking out to demand justice, urging peaceful protest and working for meaningful change.”

He also urged league office

employees to participate in what’s called the Dream In Color virtual community conversation—an internal employee resource group focused on African-Americans and the issues they face.

“This moment also requires greater introspection from those of us, including me, who may never know the full pain and fear many of our colleagues and players experience every day,” Silver wrote. “We have to reach out, listen to each other and work together to be part of the solution.

And as an organization, we need to do everything in our power to make a meaningful difference.

Even in this sad and difficult time, I know we can.”

AP

Young players call for ‘Justice for George Floyd’ in Germany he bowed his head in reflection. He spent five seconds in this position before getting up again to continue.

“No explanation needed,” Gladbach said on Twitter with a picture of Thuram kneeling.

It evoked memories of former San Francisco 49ers quarterback Colin Kaepernick kneeling during the American national anthem before games to protest police brutality and racial inequality amid the Black Lives Matter movement.

Thuram, who also scored Gladbach’s third goal, made no comment on his gesture after the game.

“He got to the point,” Gladbach Coach Marco Rose said. “He made a sign against racism, one we all completely support of course. I believe that everyone fully supports it, that everyone has the same thoughts he does.”

Thuram is the son of French World Cup winner Lilian Thuram, a prominent antiracism campaigner.

Floyd’s death and footage of his neck pinned under Chauvin’s knee reignited fury over the treatment of African Americans at the hands of police, leading to nightly protests and violent clashes with law enforcement throughout the United States.

On Saturday, McKennie wore an armband

CLARKSON, BLACK, ROSS AIR PROTEST VS. RACISM Aaron Black, Chris Ross and Jordan Clarkson slam discrimination against colored people.

with the handwritten message “Justice for George” around his left arm. McKennie later said on Twitter: “We have to stand up for what we believe in and I believe that it is time that we are heard!”

McKennie also said that he felt good using his platform to address a long-standing problem.

Schalke, which lost 1-0 to Werder Bremen, is backing McKennie.

“We as Schalke 04 are supporting our player’s position 100 percent,” the club’s sporting director Jochen Schneider told the Bild tabloid. “The violent death of American citizen George Floyd has shocked people all over the world. Our player Weston McKennie sent a clear signal against this unbelievable act and against racism yesterday.”

The German soccer federation’s control committee is to decide in the next days if it intervenes, with any sanctions ultimately decided by its sports court. However, it has not acted on similar incidents in the past. The federation has also campaigned strongly against racism.

In 2014, Union Berlin forward Anthony Ujah displayed a T-shirt with the name of Eric Garner, and the words “can’t breathe” and “justice” in reference to Garner’s death after a police officer placed him in what appeared to be a chokehold.

Ujah, who was playing for Mainz at the time, was given a warning and reminder of difference,” Black added.

Ross, an eight-time PBA champion with the Beermen, also slammed discrimination against colored people.

“Why is it that dark skinned people are looked at as criminals or thugs or dirty or ugly or gangsters or ‘hip hop,’” Ross said.

A week ago, a handcuffed Floyd died literally under the knee of a Minneapolis police officer, Derek Chauvin, who was later charged with thirddegree murder and seconddegree manslaughter. Ahmaud Arbery, a 25-year-old black man, on the other hand, was chased and killed by armed white men as he jogged through a

south Georgia neighborhood, and Breonna Taylor, a black emergency medical worker was fatally shot by police serving a narcotics search warrant in Kentucky.

“USAPANG PSL” last Saturday was a chance for sports fans, specifically Philippine Superliga (PSL) fans, to satisfy their need for PSL content.

The first part of the program was supposed to include PSL Chairman Dr. Philip Ella Juico, who, unfortunately, wasn’t able to join us because of technical challenges.

PSL President Ian Laurel, Head Coach Roger Gorayeb of the PLDT Fibre Home Hitters and Head Coach Aaron Velez of the Chery Tiggo Crossovers and myself were on hand to discuss the PSL’s humble beginnings, pre-Covid-19 and postpandemic scenarios, situations and the players’ mental and physical health during the outbreak.

The podcast was hosted by Pinoyliga.com founder Benny Benitez.

Joining the second half of the program were PSL standouts Rachel Daquis of the Cignal HD Spikers, Aby Maraño and PSL Ambassadress Majoy Baron of F2 Logistics.

Besides the mental and physical preparation of the players, the three ladies have been doing a lot of charity work by donating food and medical equipment to front-liners which bodes well for their mental health as it gives them time away from the monotony of being quarantined at home—and it’s always fulfilling to be able to give during this time of uncertainty.

The last part of the program gave the fans a chance to engage and interact with their favorite players and for Benny to discuss with the players facts and trivia about them.

I’d like to think the podcast was able to fill the pallet of every PSL content-hungry fan. There are talks of making “Usapang PSL” a monthly fixture as Pinoyliga.com diversifies its sports content.

Ninobla unbeatable in virtual tourney Borussia Dortmund Jadon Sancho shows his support for the protests surrounding the death of George Floyd. AP

the ban on political statements from the federation.

On Thursday, Ujah tweeted a picture of his protest from the time, but with Floyd’s name typed above in bold.

Second-place Dortmund stayed seven points behind league leader Bayern Munich with five rounds to go. AP

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HILIPPINE 30th Southeast Asian Games gold medalist Jocel Lyn Ninobla continued to impress after dominating the black belt female senior division of the 2020 Smart/MVP Sports Foundation Online Taekwondo Poomsae Championships on Sunday.

After capturing the First Online Daedo European Poomsae Championship two weeks ago, the 23-year-old standout out of University of Santo Tomas earned 8.333 points to win gold in her category.

Another UST jin, Aidane Krishia Laxa, placed second with 8.150 points, while De La Salle University’s Daphne Ching and Mikee Rose Regala shared third spot with 8.100 and 8.067 points, respectively.

Ninobla’s star twinkled in the 30th SEA Games last December after she topped the women’s recognized poomsae event. She partnered with Laxa and Rinna Babanto to claim silver in the team event.

In the black belt male senior division, SEA Games silver medalist Patrick King Perez surprised four-time champion Raphael Enrico Mella after scoring 7.967 points. Mella settled for silver with 7.933.

Young athletes King Nash Alcairo and Sofia Ysabelle Sarmiento, meanwhile, topped the black junior male and female categories, respectively.

The Philippine Taekwondo Association organized the event which attracted 1,000 participants in several age-groups.

It was inspired by the Daedo European tournament which was staged when the whole world was in lockdown because of the Covid-19 pandemic.

Ramon Rafael Bonilla

Jocel Lyn Ninobla reaffirms her poomsae supremacy.