BusinessMirror June 18, 2020

‘Danding’ Cojuangco dies at 85 ORMER ambassador, industrialist and farm and sports advocate Eduardo “Danding” M. Cojuangco Jr. died on Tuesday evening (June 16) at the age of 85, leaving a huge footprint on Philippine business where, among others, he served as chairman and CEO of San Miguel Corp.

(SMC). The diversified conglomerate, which owns the largest food and beverage company, has been credited with its generous support for the country’s response to the Covid-19 health crisis.

Cojuangco succumbed to pneumonia as a complication of lung cancer at St. Luke’s Medical Center.

The SMC issued a statement saying its “Board of Directors and the entire San

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PHL GRAPPLES WITH IMPACT OF HOST COUNTRIES’ ANTI-COVID MEASURES ON OFW REMITTANCES

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By VG Cabuag

COJUANGCO

Miguel Group deeply mourn the passing of our Chairman and Chief Executive Officer, Eduardo M. Cojuangco Jr.”

“For decades, ECJ guided the San Miguel Group, making a difference in the lives of so many of our employees, past and present. Values he lived by—malasakit, and sama-sama, the idea that we either make it together or not at all—are at the heart of what it means to be San Miguel,” the conglomerate said in a statement.

“His contributions to our company’s history are numerous and indelible. An agriculturalist at heart, he championed the development of rural Philippines and the setting up of our agro-industrial operations.

“As SMC chairman, he guided our expansion, diversification and transfor-

mation. His vision for San Miguel—to be a beacon of hope for the Philippines and a partner in nation-building—remains at the core of everything we do.

“His impact on many other areas of Philippine life—sports, philanthropy— adds to his rich and enduring legacy.”

Senators mourn

SENATE President Vicente Sotto III, partymate and friend of Cojuangco, led his peers in mourning the businessman’s passing.

Senate President Pro Tempore Ralph Recto credited Cojuangco with inspiring the conglomerate’s multibillion-peso support for the Philippines’ fight against Covid-19, even as he acknowledged that

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BusinessMirror A broader look at today’s business

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SC AFFIRMS ERC POWER ON SPOT MARKET PRICES www.businessmirror.com.ph

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Thursday, June 18, 2020 Vol. 15 No. 252

P25.00 nationwide | 2 sections 16 pages | 7 DAYS A WEEK

AMID COVID IMPACT, PHL DEVT PLAN WILL HAVE OFW CHAPTER

By Cai U. Ordinario

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AMID limited transportation options in the city due to quarantine restrictions, two men ride a calesa in Manila. NONIE REYES

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By Joel R. San Juan

HE Supreme Court has affirmed the power of the Energy Regulatory Commission (ERC) to implement price controls for the Wholesale Electricity Spot Market (WESM), the country’s trading floor for electricity, as part of the ERC’s police power to avoid “unusually high and unreasonable market prices.”

The SC order effectively prevents collection by the Power Sector Assets and Liabilities Management Corporation (PSALM) of a total of P9 billion in supposed accumulated billings that would have impacted consumers.

In a 15-page ruling released on Wednesday, the SC denied the petition filed by PSALM, a government-owned and -controlled corporation, seeking the reversal of the Court of Appeals (CA) decision of August 28, 2009.

In the said ruling, the CA af-

firmed the validity of ERC orders issued on January 30, 2008, and October 20, 2008, granting Meralco’s plea for the adjustment of WESM settlement prices.

The ERC, in the assailed order, set the WESM settlement prices for its September and October 2006 supply months at the commissionapproved time-of-use (TOU) rates.

This prompted PSALM to elevate the controversy before the SC, arguing that the ERC committed an “illegal, arbitrary and ultra vires See “ERC,” A2

Boracay hotel under fire from DOT, LGU

By Ma. Stella F. Arnaldo Special to the BusinessMirror

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HE Department of Tourism (DOT) moved on Wednesday to revoke the accreditation of a hotel on Boracay Island, which accommodated 24 outsiders, one of whom tested positive for the novel coronavirus.

In a media statement, the Boracay Inter-Agency Task Force (BI-

ATF) decried the entry of a group of travelers to Boracay on June 12 that stayed up to June 14, when the island was not officially open for tourism.

The statement said the resort housed the group days before the official reopening of the island set by the BIATF on June 16.

(See, “Boracay now ready to accept tour­

ists from Western Visayas,” in the Business­ Mirror, June 11, 2020.)

PESO EXCHANGE RATES n US 50.1460

“The DOT shall strictly implement rules and regulations under its mandate and shall ensure that both tourism industry players and tourists would have an enjoyable experience in an environment where trust and confidence in destinations are regained during the new normal,” stressed Tourism Secretary Bernadette Romulo-Puyat.

While the news statement did not name the hotel, BusinessMir-

ror sources on the island said it was HUE Hotels and Resorts Boracay on Station 2. HUE is owned by the Manila-based Hospitality Innovators Inc., which also has a property in Puerto Princesa.

Staff and management of the resort are now under strict quarantine.

The revocation stemmed from a widely reported incident wherein 28 employees of the Bureau of Fire

S the pandemic continues to affect millions across the globe, including overseas Filipino workers (OFWs), the government will dedicate a separate chapter to migrant workers in the midterm update of the Philippine Development Plan (PDP).

National Economic and Development Authority (Neda) Undersecretary for Policy and Planning Rosemarie G. Edillon said this is a first for the PDP, which is now undergoing revision.

Edillon said the initial design of the PDP already included a chapter on OFWs, but the strategies that pertained to migration and development were mainstreamed in other PDP chapters.

“For this midterm update, it was already decided that there would be a separate chapter. One, because the OFs [overseas Filipinos] and the international community could not readily place themselves in the PDP, even as we say that addressing their concerns is in almost every chapter of the PDP,” Edillon told the BusinessMirror on Wednesday.

“We [also] had a strong presence in the Global Compact on Migration, which culminated last year. And so, we [the Neda and the Department of Foreign Affairs] decided that the Philippines should set the example of how to integrate overseas Filipino concerns in the PDP and engage them in our development concerns,” she added.

Edillon said the chapter will include information on protecting OFWs’ rights and improving their well-being as well as participation in development and facilitating their reintegration in Philippine society.

This means intensifying social protection programs for migrant workers and their families, as well as facilitating effective service delivery to OFWs.

The chapter will also discuss strengthening bilateral and regional ties to help OFWs and providing sufficient assistance to nationals, as well as enhancing the education of migrant workers.

The chapter will also include strengthening financial inclusion initiatives and facilitating employment for returning OFWs. Edillon said the government seeks as well a successful socioeconomic reintegration of OFWs and their families.

The chapter, Edillon said, includes information on engaging OFWs, their families and other stakeholders, as well as strengthening the government. This means mainstreaming migration into local development planning and increasing overseas voter turnout.

A section on protecting OFWs rights and the well-being of foreign nationals in the country is planned. This means establishing a clear policy direction as a migrant-receiving country.

“It’s good to hear that there is now going to be a full chapter on OFWs so we can really address their needs and that of their families [as well as] prepare for their eventual return,” Ateneo Center for Economic Research and Development Director Alvin P. Ang said in the forum.

Mega crisis

IN the same forum, Scalibrini Migration Center Director for Research and Publications Marla M.B. Asis said the pandemic is a “mega crisis.”

Asis said that while the coronavirus 2019 (Covid-19) pandemic is foremost a health crisis, it now has an economic, political and social dimension with the damage it is creating.

The pandemic has forced countries worldwide, including the Philippines, to close their borders and lock down communities, causing unprecedented disruption to the global economy.

“This pandemic is just unprecedented. It’s even threatening to become a humanitarian crisis in some regions in the country and also in some parts of the world,” Asis said.

Continued on A2

See “Boracay,” A2

n JAPAN 0.4674 n UK 63.0285 n HK 6.4704 n CHINA 7.0773 n SINGAPORE 35.9444 n AUSTRALIA 34.5004 n EU 56.4895 n SAUDI ARABIA 13.3733

Source: BSP (June 17, 2020)

News BusinessMirror

A2 Thursday, June 18, 2020

DepEd probes face-mask sharing in Bicol grad rites Continued from A8

For schools that have yet to conduct the end-of-school-year rites, school heads must submit to the Schools Division Superintendent (SDS) for approval their proposed process for e-graduation rites, including logistics, before conducting the event.

Meanwhile, activities that may require face-to-face interaction and allowed through DepEd and IATF guidelines may be conducted only if the necessary health and safety precautions are strictly complied with, subject to the guidelines set for the community quarantine classification of the locality.

“We direct all our units, and appeal to the public, to always observe the minimum health standards and social-distancing protocols to minimize the risk of exposure and mitigate the spread of the disease.”

The DepEd stressed that the fight against Covid-19 continues and “we should not let our guard down.”

“We in DepEd are committed to protect the safety and health of our learners, teachers and parents.

We will continue conducting seminars for our teachers and stakeholders on preventive and precautionary measures to be observed in DepEd schools and offices, so we can be sure that these are internalized and properly understood, and to emphasize everyone’s role in this public health concern,” the DepEd said.

Claudeth Mocon-Ciriaco

Boracay…

Continued from A1

Protection (BFP) in Iloilo traveled to Boracay on June 11 and June 12, supposedly for the visit of BIATF officials led by Environment Secretary Roy A. Cimatu, Interior Secretary Eduardo M. Año, and DOT’s Romulo Puyat. It was later found that the group actually held a birthday party.

One of the BFP employees who joined the group on June 12, according to Iloilo news reports, was supposed to have been on home quarantine for 14 days, while waiting for her Covid-19 test results. On June 13, said employee was found positive with the dreaded virus.

According to the DOT, provincial and local government officials have already been able to trace all the contacts of the 28 personnel and have advised them to undertake necessary health and safety measures.

In a press conference on the island on June 11, the BIATF commended the Aklan provincial government and Malay municipal government for mapping out stringent health and safety guidelines for tourists that range from digital solutions promoting contactless transactions to a detailed emergency response plan.

Before the press conference, the Malay government presented a Covid-19 situation to the BIATF officials, saying Boracay had “no active case” since March 5, 2020. The last reported suspect case was on May 12, 2020.

The report added, one confirmed Covid-19 case on Boracay “tested positive on March 27, 2020, and declared fully recovered last May 5, 2020, after the second repeat test.” The confirmed case was a “frontliner who attended a seminar in Manila and went to Boracay to render duty.”

According to DOT data on tourist arrivals from March 17 to May 28, 2019, Aklan, where Boracay is located, may have potentially lost some P14.23 billion in tourism receipts in the comparative period this year, due to the Covid crisis. Arrivals in the same period last year reached 546,331, of which 210,522 were foreigners.

www.businessmirror.com.ph

ERC… ABS-CBN ownership stayed with Lopezes during ML–Enrile

Continued from A1

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act” when it imposed price controls for the subject billing months in the WESM.

PSALM said such action of ERC was contrary to the requirements of Republic Act 9136 or the Electric Power Industry Reform Act (Epira).

It added that such act would cause unnecessary distortions in the market that would adversely affect both consumers and market participants.

By Jovee Marie N. Dela Cruz

ORMER Senate President Juan Ponce Enrile told the House of Representatives that the ownership of ABS-CBN Broadcasting Corp. stayed with the Lopez family even after the sequestration of the TV network during the administration of former President Ferdinand Marcos.

At the hearing on ABS-CBN’s franchise, Enrile admitted that the title of the ABS-CBN was never transferred to the government.

Enrile executed the sequestration order for all broadcast companies, including ABS-CBN, during martial law in 1972.

“The facilities of the entire ABSCBN complex, broadcast complex, were placed under the control of the government. The title of all of these facilities was never transferred to the government. They remained with the owners,” Enrile said.

“What Jake Almeda Lopez said about President Marcos taking away ABS-CBN from them is not true,” he said. Almeda Lopez

told lawmakers that ABS-CBN was not returned, but the network had to retrieve their station themselves in 1986.

“In 1986, to be exact it was February 26, I, as Secretary of National Defense and sequestrator of ABS-CBN and all the other television, radio and communication facilities in the country, issued an order to lift the sequestration of ABS-CBN,” Enrile said.

Also, Atty. Arecio Rendor Jr. said ABS-CBN stood by the legality of the return of ABS-CBN broadcast facilities to the Lopez family, as it never lost ownership of the network even during martial law.

Rendor, who was involved in

Makati taxpayers may pay online for Q2

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USINESS owners and residents in Makati City may now pay their business and real property taxes (RPTs) for the second quarter without going to City Hall.

Makati City Mayor Abigail Binay said this was made possible after the city launched an online payment portal where payment can be done through GCash’s bank-transfer feature by sending payments to the city government of Makati, with the account number 003452-1008-85.

“Since Metro Manila has shifted to general community quarantine, this process ensures that Makatizens can complete their financial transactions with City Hall without having to leave their homes and offices. As much as possible, we also want to minimize the number of people going to the City Hall in order to prevent the spread of Covid-19,” Binay said.

For first quarter and delinquent payments, business owners and residents need to settle their tax obligations at City Hall, from 8 a.m. to 2 p.m. on weekdays.

The deadline for the payment of business and RPTs is on June 25, 2020.

Those who will pay the RPT on or before the deadline will get a 5-percent discount.

On April 23 the Department of Finance released Circular 0202-2020, which extends the deadlines for the payment of taxes, fees and other charges of local government units to June 25, in view of the economic disruptions brought by the pandemic.

Binay added that the city will implement similar innovations in the coming months to ensure the safety and convenience of Makatizens amid the Covid-19 pandemic.

The mayor said business owners and residents can go to www.makationlinepayments.com. A step-by-step guide is available through the city’s official Facebook page My Makati.

For questions or concerns, business owners and residents may call (02) 8870-1325 (business tax payments) and (02) 8870-1325 (realty tax payments).

Claudeth Mocon-Ciriaco

Probe report

PEOPLE wearing masks pass by the headquarters of broadcast network ABS-CBN Corp. on May 6, 2020, in Quezon City. AP/AARON FAVILA

the arbitration case of ABS-CBN to recover its properties, added that the return of real estate and broadcast facilities after the Edsa Revolution to the Lopezes underwent due process.

Albay Rep. Edcel Lagman said there is no constitutional provision in the 1987 Constitution which was violated when the premises, facilities and operations of ABS-CBN were returned in 1986.

“The ownership of the Lopez family of ABS-CBN has long been established, even before the declaration of Martial Law, and this un-

challenged ownership continued up to the post-Edsa People Power Revolution,” he said.

“Since the Lopez family as majority owners of ABS-CBN is the aggrieved party, it stands to reason that it should be the one to be compensated for the illegal seizure of ABS-CBN during martial law and the short takeover of the same by the Ramos-Enrile forces in the aftermath of the Edsa People Power Revolution, which latter brief takeover was subsequently permitted by the Lopez family only for the duration of the ‘crisis’ or ‘emergency,’” he added.

Amid Covid impact, PHL devt plan will have OFW chapter Continued from A1

According to a recent policy note, Ang and Institute for Migration and Development Issues Executive Director Jeremaiah M. Opiniano said a maximum of 400,000 OFWs could lose their jobs or suffer pay cuts due to the pandemic.

This will lead to a drop of 10 percent to 20 percent in remittances or by as much as $6 billion, they estimated.

Noting the ongoing massive repatriation of OFWs due to the pandemic and global recession this year, Edillon said the situation of returning OFWs is complicated by the tight job market in the country.

The OFWs who lost their jobs abroad will have to compete with domestic workers who are part of the same industries they are in.

“That’s why we are very, very keen on improving our health systems capacity because all of these things that we are talking about, it will actually all just fail if we cannot address our health problem,” Edillon said.

“So if we can address our health sys-

tems capacity to address this problem, then there’s that confidence and all the other business sectors can begin functioning again and there will be employment opportunities for our repatriated OFWs,” she added.

Help for OFWs

THE welfare of repatriated OFWs and OFWs in general has been high on government priorities, Edillon said. As such, the government aided them through various programs.

Based on a May 19 report from the Overseas Workers Welfare Administration, Edillon said the Hatid-Sundo or free transportation for OFWs brought 10,127 OFWs to and from the Ninoy Aquino International Airport.

OFW Kalinga program or temporary shelter for returning OFWs helped 12,588 migrant workers, while Tulong Marino provided food packs to seafarers and helped 7,123 OFWs.

Edillon said the government also helped 5,295 stranded OFWs with food, shelter and transportation for OFWs in the regions.

‘Danding’ Cojuangco dies at 85 Continued from A1

SMC’s profit is “the labor of thousands of its officers and employees.”

In a statement, Recto said, “SMC’s decision to give more than P1 billion in the national pandemic fight, in ways longer than its product catalogue, was the corporate implementation of Danding’s philosophy to help the needy.”

Recto recalled, "it was this trademark of giving which drove SMC to donate gas to frontliners; to let aid trucks travel on its tollways for free; to stock community kitchens with chicken, meat products, flour; to equip hospitals with testing machines and ventilators; to flood clinics with disinfectant and alcohol; to dispatch its planes all over Asia in search of supplies; and to keep its payroll intact despite the plunge in sales.”

Moreover, the senator noted that “when profits give way to service during a national crisis, we know who was responsible for SMC passing its corporate citizenship test.”

Senate President Sotto, a stalwart of the Nationalist People's Coalition (NPC) that Cojuangco had founded, said in a statement:

“I join the nation in mourning the passing of a titan in Philippine business and politics.

“The passing of our NPC chairman, Eduardo ‘Danding’ Cojuangco Jr., leaves a big hole in our hearts.

“He lived an extraordinary life, a successful man who wore many hats as he made waves in the business sector and splashes in public service. The vast ocean of entrepreneurship and political leader-

ship will never drift as suavely and smoothly without his engaging presence.”

For her part, Sen. Grace Poe, whose late father, actor Fernando Poe Jr., was also a good friend of Cojuangco, said: “Mr. Danding Cojuangco always looked for ways to empower communities.

“He opened up opportunities for pervasive success as he believed deeply in the capabilities of Filipinos.

“We are saddened by his passing, but we celebrate a legacy, too, of the man behind iconic Filipino brands who in so many ways gave his share to make our country better,” added Poe.

Sen. Juan Edgardo Angara, for his part, said that while Cojuangco’s “forays into business and politics are of public record,” as well as his “championing Philippine sports,” little known “were his charitable acts, unsolicited, done sans fanfare, and many anonymously.”

Cojuangco, added Angara, “was a practitioner of retail altruism and direct assistance to the down and out. The financials of his companies are meticulously recorded, but he kept no accounting of the help he extended to the needy, especially from the provinces close to his heart.

“These were sick people hospitalized, bright young people sent to college, OFWs in distress helped, small businessmen extended loans, and many more,” said Angara.

Sen. Sherwin Gatchalian said: “I have been with the NPC since the start of my political career and I witnessed how he has shaped, over decades, the ideals and objectives of the party that centered on love for country. He treated us like family and I will remain grateful for his support.”

Ally of Marcos

BORN on June 10, 1935, in Paniqui, Tarlac, Cojuangco attended the University of the Philippines-Los Baños College of Agriculture and California Polytechnic College in San Luis, Obispo, USA.

He was a close ally of strongman President Ferdinand Marcos, who fled along with his business associates that included Danding, on February 25, 1986. Cojuangco has stressed that while he never denied his closeness to the late dictator, he deemed unjust the allegations that the deals he made in the Marcos era were attended by crookedness.

Cojuangco was allowed to return to the Philippines three years later, after spending most of his time in Australia breeding horses.

He then formed the NPC to serve as his platform to run for President during the 1992 national elections, but only placed third and lost to President Fidel V. Ramos, who had the backing of his cousin, President Corazon C. Aquino.

However, NPC’s bet for Vice President was Joseph Estrada, who won by a landslide. Cojuangco’s party subsequently supported the presidential run of Estrada, who won in 1998.

It was during Estrada’s time that Cojuangco became the chairman and CEO of conglomerate San Miguel Corp., a position that he held since July 7, 1998, until his death.

Present at meetings

COJUANGCO, who also has his own business such as in cement manufacturing, was always present during the stockholders’ meetings of San Miguel and its units,

chairing the meetings. His last was during the stockholders meeting of Petron Corp. on June 2.

Before he assumed his posts, San Miguel was already a powerhouse in food and beverage sector in the country, especially in the beer business where the company until today sells nine out of 10 beers in the Philippines.

It was Danding who wanted San Miguel to do more and expand in the highly capitalized sectors of power generation, mining and petroleum refinery. It stayed in brewing beer, where it is known until today, and exported to other countries in the region with some success. It bought processed meat giant Pure Foods from the Ayala group, bought the domestic CocaCola franchise, and even expanded in Australia to buy National Foods.

SMC also went local, buying several big companies in the Philippines such as refiner Petron Corp., and at one time owned half of Philippine Airlines and a 36-percent stake in power distributor Manila Electric Co. It later sold stake in PAL and Meralco, partly to pay for its highly capitalized projects such as the tollroads and other projects where it either won the bid or bought the company who won the bid.

Today, the conglomerate is still the biggest company in the Philippines that can draw in P1 trillion in revenues a year, or about 5 percent of the Philippine economy. With a report by Butch Fernandez

THE case stemmed from an investigation report issued by the Enforcement and Compliance Office (ECO) of the Philippine Electricity Market Corporation (PEMC), a nonprofit organization which serves as the market operator and governing body of WESM, after it investigated the increase in the load weighted average price in the WESM in the monthly operations and the bidding behavior of PSALM’s trading teams increase.

As a result of the inquiry, the ECO issued an investigating report finding that PSALM behaved anti-competitively and abused its market power.

PEMC subsequently affirmed the findings of the ECO and its board ordered adjustments in the WESM settlement prices for the third and fourth billing periods.

However, the ERC invoked its mandate under RA 9136 and declared the PEMC Board’s action invalid due to lack of authority, and in violation of the Epira and WESM Rules.

Eventually, the ERC adopted the findings of its investigatory unit (IU) which found no prima facie case against PSALM for anti-competitive behavior or market power abuse.

P9-billion ‘debt’

ON August 16, 2007, PEMC filed a manifestation before the ERC, saying it received a letter from PSALM demanding payment of the total unpaid amount from the third and fourth billing months which the latter claims to have accumulated to almost P9 billion.

PEMC said the impact to the consumers of these adjustments claimed

by PSALM, if applied, together with the adjustments of all generation prices, would result in an additional imposition of P6 per kilowatt hour.

Meralco, on the other hand, moved for the reconsideration of the ERC decision and asked that the action of PEM Board in adjusting the WESM settlement prices for the subject months be declared valid.

The power distribution firm also stressed that the additional imposition of P6 per kilowatt hour would translate to an increase in the generation charge of its consumers of about 90 centavos and P2.05 per kilowatt hour for the supply months of September and October, 2006, respectively.

On January 30, the ERC issued the assailed decision denying PEMC’s motion for reconsideration.

ERC police powers

ON the other hand, the ERC granted Meralco’s motion for reconsideration and set the WESM settlement prices for the third and fourth billing periods at the commission-approved TOU rate.

In upholding the ERC’s order, the SC pointed out that the object in applying TOU rates was not merely to protect consumers but also to set the WESM settlement prices at reasonable levels, “since there was a clear evidence of unusually high WESM prices during the subject periods.”

“Here, the unusually high and unreasonable market prices for the subject billing periods which necessitated the ERC to step in and exercise its police power as mandated by the Epira, cannot be overemphasized,” the SC said.

The SC said that as pointed out by PEMC, the impact of the adjustment in the WESM prices estimated to be an additional imposition of P6 per kwh would have resulted to an increase in generation charge of its consumers of about 90 centavos and P2.05 per kwh for the subject period.

“In the basis of the foregoing, the Court absolutely agrees with the CA that although the ERC adopted the findings of its IU and terminated the investigation against PSALM for alleged anti-competitive behavior and abuse of market power, the same did not necessarily preclude the existence of irregular behavior or circumstances which would have contributed to the high prices in the WESM during the subject periods,” the SC explained.

“The ERC validly exercised its regulatory power pursuant to the police power of the State when it imposed the commission-approved TOU rates as a form of price adjustment or price control,” it added.

A4

News

Thursday, June 18, 2020

Editor: Vittorio V. Vitug

Ombudsman probes Duque, other DOH execs for alleged coronavirus anomalies

By Jovee Marie N. Dela Cruz, Samuel P. Medenilla & Claudeth Mocon-Ciriaco

O

mbudsman Samuel Martires ordered an investigation on Wednesday against Department of Health (DOH) officials led by Health Secretary Francisco Duque III over alleged irregularities and anomalies in relation to the agency’s response to the Covid-19 pandemic.

Martires said the Office of the Ombudsman (OMB) has created a joint team investigative team to look into lapses of the health department in the procurement of test kits and pers on a l prote c t i ve e qu ipme nt (PPEs) to address the contagion.

The Department of Health, in a statement read by Undersecretary Maria Rosario Vergerie, assured the DOH has been transparent in their Covid-19 response and that the agency is open for any investigation.

Ma lacañang , meanwhi le, urged DOH to cooperate with the Ombudsman in its probe.

“The Ombudsman, as we all know, is an independent constitutional

PNP chief orders Sinas to rid NCRPO of rogue policemen

N

ational Police chief General Oscar Albayalde ordered the commander of the National Capital Region Police Office (NCRPO) on Wednesday to intensify the campaign against rogue policemen in Metro Manila.

The order was issued by Gamboa to NCRPO Director Maj. Gen. Debold Sinas after a member of the Quezon City Police District was found positive for illegal drugs use during a random testing.

“Our people need to trust the PNP [Philippine National Police] if we want to sustain and eventually win this prolonged fight against criminality and Covid-19,” said Gamboa.

“Police Maj. Gen. Sinas has been cleansing Metro Manila from unscrupulous police personnel and I commend the NCRPO for its aggressive campaign, especially against rogue cops who are involved in the use and trade of illegal drugs,” he added.

Earlier, Sinas initiated a random drug test to members of the Quezon City police wherein one personnel has tested positive for drug use.

The random testing were being administered in order to ensure that Metro Manila policemen are free from substance abuse.

On June 6, 2020, random testing was conducted on 312 Quezon City police personnel, wherein results have yielded negative except for one officer identified as Pat. Casey San Jose Austria.

Confirmatory tests on urine samples of Austria, assigned at the District Special Operations Unit of the Quezon City police by the PNP Crime Laboratory confirmed the earlier positive results.

As a result, Austria had been disarmed of his issued firearms and will be reassigned to the NCRPO for appropriate administrative sanctions and reformative interventions.

The PNP said that from January 2020 up to Wednesday, Austria was the 10th personnel caught using illegal drugs through the random drug testing.

“Pursuant to President Rodrigo Duterte’s directive, the PNP is relentless in its fight for a clean and drug-free Philippines. It starts right here, in our own backyard,” Gamboa said.

“Getting rid of rogue cops is key to gaining the trust of our people.

The NCRPO’s initiative is an important step towards attaining that,” he added. Rene Acosta

body; thus, we will let the process run its course as we enjoin Secretary Duque and the entire DOH bureaucracy to cooperate with the investigation and respect the orders of the OMB,” Presidential spokesman Harry Roque said in a news statement.

P reside nt D uter te e a rl ier threatened to dismiss some health officials, excluding Duque, for the said delay.

“We respect the decision of the Office of the Ombudsman to probe Department of Health Secretary Francisco Duque III and other health officials over the alleged irregularities in the Covid-19 response,” Roque said.

The Ombudsman said he ordered the investigation after evaluating the initial reports that were gathered and upon the recommendation of Assistant Ombudsmen Caesar D. Asuncion, Joselito P. Fangon, and Jose M. Balmeo Jr. “A few weeks prior to the lockdown of March 15, the Office of the Ombudsman, through its Field Investigation Office, started to conduct an investigation but our investigators were given a runaround by some DOH officials and personnel by referring us from one

department, or office, to another,” he said.

Martires also directed the creation of two more investigating teams who will jointly investigate alleged irregularities and anomalies committed by DOH officials and employees.

He said these teams will inquire on the delayed procurement of PPEs and other medical gears necessary for the protection of health-care workers.

“Alleged lapses and irregularities that led to the death of medical workers and the rising number of deaths and infected medical frontliners,” he said.

“Inaction in the release and processing of benefits and financial assistance of ‘fallen’ and infected medical frontliners,” the Ombudsman added.

He said the investigating teams will also look into the confusing and delayed reporting of Covid-19 related deaths and confirmed cases.

Meanwhile, Martires warned he will file charges against individuals who will not cooperate in the Ombudsman’s investigation.

“In view thereof, the Joint Investigation Team is authorized to

file the necessary criminal and/or administrative case against any official, or employee, who fails or refuses to comply with the legal processes/orders/requests of the Joint Investigating Team,” he said.

Martires added that the Ombudsman is also ready to file cases against any official, or employee, who willfully obstructs, or hinders the conduct of the investigation and/or who willfully misleads or attempts to mislead the office of the Ombudsman.

The DOH statement added that the department and its officials have maintained a regular reporting of cases and deaths through its pressers, situation reports, and in its tracker, publicly available in the official channels.

As firm believers of transparency, DOH stressed it has been “religiously” informing the public for corrections and clarifications raised by all sectors as it continues to validate all submitted data.

“DOH officials will willingly cooperate with the authorities to ensure utmost transparency throughout the duration of the investigation and beyond,” the statement read.

Valenzuela City honors top 2019 businesses, employers

A

FTER it was postponed twice due to the ban on social gathering at the onset of the coronavirus disease 2019 (Covid-19) pandemic, Valenzuela City has finally honored the 20 Top Taxpayers and 23 Job Providers for 2019.

Since June 16, the local government unit (LGU) has delivered and handed out the trophies to the awardees right at their very own doorsteps.

In his letter to the awardees, Mayor Rexlon Gatchalian acknowledged how instrumental their taxes were in keeping the city’s economy afloat, especially during the two-month enhanced community quarantine.

He affirmed that their taxes will surely go a long way in funding and strengthening the LGU’s Covid-19 response, while also hoping to sustain more businesses and be a competitive economic hub in the future.

Confronted by such unprecedented health emergency, the local chief executive also expressed his gratitude to the companies for their significant contribution to the city’s relief efforts and their support to frontliners.

“Local governments have been becoming more

competitive. We want to get more businesses in [and] we want to retain more businesses so we have to up our game in terms of infrastructure and to be able to attract these types of businesses,” Gatchalian said.

The LGU has feted five top taxpayers from each of the four categories. For micro scale enterprises, they included Uni Elements Enterprises, Contract Packaging Corp. of the Philippines, VA Tech Wabag (Philippines) Inc., Innovative Packaging Industry Corp., and Grand Chamonix Marketing Inc. Small scale business awardees were We Enterprises and Contractors Inc., Suncrest Foods Inc., Fiberline Industries Inc., Mega Masterlink Fabricator and Electrical Service, and Industrial Welding Corp.

Under medium scale category, the honorees were Unicorn Metal Corp., Peerless Products Manufacturing Corp., Mayer Steel Pipe Corp., Tiger Machinery and Industrial Corp., and Maxima Steel Corp.

Large scale awardees were Manila Electric Co., SM Prime Holdings Inc., Maynilad Water Services Inc., San Miguel Foods Inc., and Powertrac Inc. Recipients of the Top Job Provider were: (Valenzuela-

based direct hire companies) Pandayan Bookshop Inc., CDO Foodsphere Inc., SM Prime Holdings Inc., Suncrest Foods Inc., Donutification Corp.

(Dunkin’ Donuts); (NonValenzuela-based direct hire companies) Republic Biscuit Corp., Robinsons Supermarket Corp., Savory Fastfood Inc. (Classic Savory), M. Consunji Inc., Concentrix Philippines; (Manpower agencies) Fineco Management Corp., Elite Jinzai Marketing Services Inc.; (Overseas job provider) East West Placement Center Inc.; (Special Program for the Employment of Students) Fresh N’ Famous Foods Inc. (Chowking Valenzuela), Fujiweld Inc., McMagik Corp.

(McDonald’s Valenzuela) and Lamco Paper Products.

The Service to Employers Award was feted to Human Resources Management Association of Valenzuela City Inc., and the Outstanding Humanitarian Service for Inclusive Employment Award was handed to Humanity & Inclusion.

A new category, Persons with Disability Employment, was bestowed to Suncrest Foods Inc., JBC Food Corp., and Sunwalk, Inc. Roderick L. Abad

PHL fish harvest to reach 3.22 MMT by ‘30–FAO

T

he country’s fish production is projected to reach 3.22 million metric tons (MMT) by 2030 on the back of higher aquaculture output, according to the United Nations’ Food and Agriculture Organization (FAO).

In its annual State of World Fisheries and Aquaculture report, FAO estimated that the country’s fish output would grow by 12 percent from 2.876 MMT in 2018 driven by higher aquaculture production.

The FAO said Philippine aquaculture production in 2030 would increase by 10 percent to 905,000 MT from 826,000 MT in 2018.

Based on FAO data, aquaculture would account for about 28 percent of total Philippine fisheries production.

FAO also estimated that the country’s fisheries exports would grow slightly to 422,000 MT by

2030 from 420,000 MT in 2018.

However, the country’s fisheries imports would decline by 1.6 percent in 2030 to 545,000 MT from 554,000 MT recorded in 2018.

FAO said global fish production is expected to expand by 14.5 percent from 178.529 MMT in 2018 to 204.421 MMT in 2030. The FAO noted that the growth is relatively slower compared to the 27 percent production growth recorded in the period of 2007 to 2018.

“Aquaculture will continue to be the driving force behind the growth in global fish production, extending a decades-old trend,” it said in the report published recently.

“Aquaculture production is projected to reach 109 million tonnes in 2030, an increase of 32 percent [26 million tonnes] over 2018,” it added.

FAO said the average annual growth rate of aquaculture would slow to 2.3 percent between 2019 and 2030 from 4.6 percent between 2007 and 2018.

“However, the share of farmed species in global fishery production [for food and non-food uses], is projected to grow from 46 percent in 2018 to 53 percent in 2030,” it said.

The FAO disclosed that it has taken into consideration the immediate impact of the Covid-19 pandemic on global fish trade in its trade estimates.

“The following projections are based on the assumption that there will be a significant disruption in the short run for production, consumption and trade, with a recovery in late 2020 or early 2021,” it said.

Jasper Emmanuel Y. Arcalas

Th

PHL grappl anti-Covid

By Samuel P. Medenilla @sam_medenilla, Cai U. Ordinario @cuo_bm & Tyrone Jasper C. Piad

O

Reporters

VERSEAS Filipino workers (OFWs) are considered modern-day heroes because they save the economy more than once by sending hard-earned cash back to the Philippines, boosting liquidity and consumption.

As host countries grapple with coronavirus disease of 2019 (Covid-19), the tap substantial to gross domestic product at 10 percent, at least may only give drips.

As of Tuesday, the Department of Health (DOH) reported 62,571 OFWs were repatriated this year.

Two-thirds or 42,508 of these returning OFWs were sea-based while the remaining 20,063 are land-based.

Of these returning OFWs, 1,601 have tested positive for Covid-19.

This may be the time for government to give modern-day heroes a lending hand as many OFWs were caught off-guard with the restrictions imposed by host countries to stem the spread of Covid-19.

So says Luther Calderon, leader of nongovernment groups Kabalikat ng Migranteng Pilipino Inc. (Kampi) and the Migrant NGO Forum.

“In my observation, many of the OFWs and their families were unprepared with the abrupt disappearance of their jobs and remittances, which they depended on,” Calderon, secretary-general of the Migrant NGO Forum, told the BusinessMirror.

Trade Union Congress of the Philippines (TUCP) Spokesman Alan Tanjusay added that many families of OFWs have relied on remittances for their daily needs.

“Families are not ready for lower remittances so the adjustments in lifestyle and choices will definitely happen,” Tanjusay said. “The pressure [on] every OFWs family is greater than the usual.”

Strain on system

IN April, the World Bank said global remittances were projected to decline by 20 percent this year due to the economic fallout from governments’ measures to address the Covid-19 pandemic.

According to a migration and development brief, remittances to low-income and middle-income countries (LMICs) are also projected to decline by 19.7 percent to $445 billion.

In East Asia and the Pacific, the regional grouping where the Philippines belongs, the World Bank projects remittances to decline by as much as 13 percent this year.

Remittance flows are also expected to fall in Europe and Central Asia at 27.5 percent followed

by Sub-Saharan Africa, 23.1 percent; South Asia, 22.1 percent; the Middle East and North Africa, 19.6 percent; and Latin America and the Caribbean, 19.3 percent.

“Quick actions that make it easier to send and receive remittances can provide much-needed support to the lives of migrants and their families,” according to Dilip Ratha, lead author of the World Bank brief on remittances.

“These include treating remittance services as essential and making them more accessible to migrants.”

Affecting OFW ability THE decline in income of OFWs will significantly affect their ability to send remittances. Ateneo Center for Economic Research and Development (Acerd) Director Alvin P. Ang and Institute for Migration and Development Issues (Imdi) Executive Director Jeremaiah M. Opiniano said this will lead to the steepest decline in remittances in the country’s entire migration history.

In an Ateneo de Manila University (ADMU) Policy Brief, Ang and Opiniano estimated around 300,000 OFWs to 400,000 OFWs will be laid off or suffer pay cuts due to state measures against the pandemic.

Ang and Opiniano said this will likely cut remittances from OFWs by 10 to 20 percent or as much as $3 billion to $6 billion. This means remittances could only reach $24 billion to $27 billion this year from $30 billion in 2019.

“These base-to-worst case scenario are significant numbers hitting the economy externally and then internally,” Ang and Opiniano said. “With overseas Filipino’s remittances fuelling national consumption, we can lose 20 percent to 40 percent of consumption due to the pass-through effect of remittances.”

Migration survey

ANG and Opiniano explained in their report their estimates already considered the impact of the decline in oil prices on employment of OFWs. They estimate that if the current trend continues, more Filipinos in the Middle East will be out of jobs or suffer pay—cuts.

Based on the 2018 National Migration Survey of the Philippine Statistics Authority (PSA), majority of Filipinos who work abroad went to the Middle East.

Data showed around 20 percent of all Filipinos who migrated abroad in the past five years we to Saudi Arabia. Another 15 percent went to the United Arab Emirates; 7 percent went to Kuwait; and another 7 percent went to Qatar.

“Many countries are on lockdown and all the oil producers in the Middle East (where nearly half of our OFWs are based) are at risk with falling oil prices. If this price trend continues, the Middle East might be forced to stop oil production and possibly lay off many workers—including Filipinos,” Ang and Opiniano said.

Contrarian view

HOWEVER, UniTeller Financial Services Inc. CEO Albert Guerra offers a contrarian view.

“We still believe that even

TheBroaderLook BusinessMirror

Editor: Dennis D. Estopace | Thursday, June 18, 2020

A5

les with impact of host countries’ measures on OFW remittances It is possible, it could be positive, but again, it depends on how the second half responds,” he said.

Offsetting factors

ACCORDING to ING Bank Manila Economist Nicholas Antonio T. Mapa, remittances are likely to contract by 2.5 percent to 6.7 percent this year as more OFWs are expected to be challenged financially amid the pandemic.

He noted that top host countries in terms of remittances flows facing possible recession or zero growth are dampening job prospects for the OFWs as well.

RCBC Chief Economist Michael L. Ricafort, for his part, said that remittances could register nearly zero year-on-year growth or even shrink by at least low single-digit levels beginning March given the current situation.

Still, this can be “offset by some OFWs who could still send money to the Philippines by tapping their savings for the meantime to tide them over during the lockdowns until the restart of the economies in various host countries,” he added.

The Central Bank, meanwhile, projects OFW remittances to contract by 5 percent this year. This is a revision of the previous 2-percent growth forecast.

SOME of the thousands of repatriated OFWs placed under mandatory quarantine and whose swab or RCT-PCR tests were negative for Covid-19 are seen before their final journey to their home provinces. President Duterte recently directed the Coast Guard and Overseas Workers Welfare Administration to arrange daily trips for the OFWs via the Parañaque Integrated Terminal Exchange (PITX) and the NAIA Terminal as part of the commitment for the safe return of OFWs to their families. NONIE REYES

though some of these restrictions and circumstances that have affected the migrants, there is still the opportunity and the need for them to continue supporting their families back home,” Guerra said in a recent online forum.

Nonetheless, he admits OFWs face challenges as host countries grapple with the Covid-19 pandemic.

“Today, as we face the enormous disruption brought about

by Covid-19 pandemic, migrant workers and their families have become one of the most vulnerable groups...especially as mobility is restricted [and] jobs have been lost amid the economic downturn,” the top executive of the US-based remittance processor explained.

Guerra said that the impact of the pandemic might vary depending on the industry, noting that OFWs working in cruise ships and travel sectors could be more affected given the lockdown measures to contain the virus.

In addition, the UniTeller CEO said that construction workers in the Middle East were not safe from the pandemic as well, noting they were “affected very dramatically.”

The health sector, on the other hand, might be able to shield some of the ill effects of the economic slump, Guerra added.

Additional pressure

TANJUSAY said the arrival of additional displaced OFWs in the country will put additional pressure on the “already damaged domestic economy” without the necessary government intervention.

The Department of Labor and Employment (DOLE) said it aims to provide additional cash aid as well as livelihood opportunities for the affected OFWs through the Overseas Workers Welfare Administration (OWWA).

OWWA Administrator Hans J. Cacdac said they will need additional government funds for the said initiative, especially since they are also spending for the ac-

commodations and transportation of the returning overseas Filipinos (ROFs) back to their home towns.

Earlier this month, the DOLE said Covid-19 affected the employment of at least 300,000 OFWs. Under existing government protocols, returning OFWs must first test negative for Covid-19 before they are allowed to go to their home provinces.

With this in mind, TUCP’s Partylist in Congress is backing providing funds so concerned government agencies could provide “increased cash assistance for OFWs.” However, Labor Secretary Silvestro Bello III has said that most returning OFWs were unable to comply with the documentary requirement for repatriation.

Once the OFWs arrive, they will be tested for Covid-19 and undergo a 15-day facility-based quarantine.

Nearly a quarter of a million OFWs are currently displaced from work due to the pandemic, the labor department said, noting that more than 200,000 of them expressed no interest in returning to the Philippines.

Issues rising

ACCORDING to Guerra, “government subsidies and lifting of lockdowns will hopefully help remittances and lessen the impact [of these measures] to remittances,” Guerra added.

The DOLE has already launched a one-time financial assistance program to land-based and seabased OFWs affected by the pandemic: qualified workers will be given P10,000 each.

On top of job displacement, Guerra said migrant workers could also be stressed out by political unrest in the United States of America.

“The political situation in the US in the past weeks is something that we have look [at] carefully.

Hopefully, we will not see an impact,” he said.

The death of 46-year-old Afri-

Not waning can-American George Floyd in police custody on May 25 triggered mass demonstrations in several parts of the US. “As the situation continues to evolve, we are seeing some remittance outlets closing because of some of these demonstrations,” Guerra said.

Should this continue and some remittance outlets remain closed, Guerra said remittances from the US might take a hit.

According to the latest data from Bangko Sentral ng Pilipinas (BSP), the majority or 39 percent of overall remittances to the Philippines came from the US. This was followed by Singapore, Saudi Arabia, Japan, United Kingdom, United Arab Emirates, Qatar, Canada, Hong Kong and Korea.

Trials, tribulations

THESE developments, Calderon noted, raised the importance of financial literacy and income savings for OFWs. This component of the country’s reintegration program for OFWs tends to be the least developed.

No less than the OWWA has recognized this deficiency and has made an attempt to address it together with the BSP by launching its Pinansyal na Talino at Kaalaman (PiTaKa, or wallet) program, during the fourth quarter of 2019.

The program aims to minimize the dependence of OFWs and their families to remittances by encouraging them to save or start a business.

Unfortunately, Calderon said the program never really took off.

“After the launching of about four information videos, there was no longer any update about it,” the migrant advocate said.

To note, Cov id-19 st a r ted spreading from China to other countries, which included Philippines, during the first quarter, halting many of government’s planned initiative this year.

Yielding to stimulus

OPINIANO, however, noted that

there is a chance the decline in OFW remittances this year will be mitigated as other Covid-affected countries launch their own economic stimulus.

“As you may know, countries have unleashed numerous economic stimulus packages for workers and businesses. The pace of these countries’ recovery efforts, as well as recovery efforts by their economic or employment sectors, vary by country,” Opiniano told the BusinessMirror in an email.

“What government officials can do is continue monitoring the number of those “affected” OFWs,” he added.

Many OFWs are also banking on the said packages as they opt to remain in their host countries.

This was apparent from the DOLE report that said at least 200,000 OFWs stayed abroad even after they were temporarily displaced or permanently displaced, as host countries took measures to address the Covid-19 pandemic.

Rejecting pessimism

WHILE remittances could slow down this year, Guerra deemed the World Bank’s forecast far-fetched and “aggressively pessimistic.”

The World Bank earlier said that remittance flows to the Philippines might slump by 20 percent due to rising unemployment amid the pandemic.

“We are not seeing that,” Guerra said.

For a 20-percent dip to become reality, the UniTeller CEO said, a “catastrophe” should happen first.

“We just don’t those scenarios where the economies continue to be shut down for longer period.”

He said, however, that the future of remittance this year was still up in the air.

Its growth or decline will be highly dependent on the economic recovery amid the pandemic, Guerra pointed out.

“We are not that pessimistic but that doesn’t mean that we believe that it’s gonna be a positive year.

IN the past 10 years, personal and cash remittances have been growing steadily at 5.8 percent on average, computation based on data from the Central Bank showed.

“OFW remittances have consistently grown over the past 10 years due to the continued growth in OFW deployment, especially in the Middle East and in other Asian countries that have the biggest demand for OFWs,” Ricafort explained.

He noted that the Philippines is among the biggest suppliers of nurses and seafarers—accounting for at least 20 percent and 20 percent to 25 percent, respectively— across the world.

“Over the years, deployment of OFWs has also been diversified to include more countries around the world, especially those outside the traditionally biggest host countries, thereby partly helping the sustained growth in OFW remittances in recent years,” he added.

In fact, Ricafort said, overseas remittances to the Philippines have consistently been the fourth largest in the world after India, China and Mexico. These remittances have been reaching at least $30 billion annually in the recent years, he noted.

Escalation since 2009

LAST year, personal remittances grew by 3.9 percent to $33.47 billion on the back of a surge in money transfers from land-based workers with work contracts of year or more. Cash remittances climbed by 4.1 percent to $30.13 billion the same year.

Personal remittances in 2019 accounted for 9.3 percent of gross domestic product and 7.8 percent of gross national income.

In 2019, personal remittances had grown by 75.43 percent since it registered $19.08 billion in 2009.

OFW remittances peaked in 2013 in ter ms of percentage growth with 8.6 percent in the past decade. Money sent home from abroad tallied $25.37 billion at the time, higher from $23.35 billion the previous year, which helped in boosting consumer spending.

In March 2020, personal remittances from overseas Filipinos declined by 5.2 percent to $2.80 billion registered a year ago for the same month. The latest figure brought total remittances for the first quarter to $8.22 billion, which is slightly better than the $8.10 billion booked for the same period last year.

Basic Needs

REMITTANCE-DEPENDENT families are likely to cut back on expenses and prioritize on basic needs during this pandemic should migrant workers find it hard to send money home.

The potential decrease in remittances could truly impact these families, especially because the majority or 77 percent of the respondents from four countries said the money they received enabled them to pay essential costs, according to Uniteller’s study.

Without these remittances, they could have not been able to.

In the Philippines, 77 percent of the respondents—almost the same level in Vietnam—shared the same sentiment. Over 80 percent agreed as well in India and Indonesia.

Meanwhile, 82 percent of the respondents in the countries surveyed on average said that the remittance improved “significantly” their quality of life.

The Philippines, under this category, recorded the least affirmative response at 71 percent.

Vietnam registered 74 percent; India, 88 percent; and Indonesia, 95 percent.

Noel Cristal, Uniteller’s head of Asia business development, said that the families would probably “zoom” their budget spending to food, medicine, clothing and education only. Other unnecessary expenses will be scrapped, he added.

He, however, stressed that this could still be a case-to-case basis depending on the financial position of the families.

More resilient

HAVING the money to transfer and device to facilitate the transaction are not enough, Guerra said, noting that the receiving end should be prepared as well.

“Digital remittances not only require digital products and users having smartphone or internet connection,” he explained. “It also requires a bank account or financial service where the workers receive their salaries. I think that continues to be a challenge.”

This is where financial inclusion comes into the picture. Guerra emphasized that it was necessary as well to fully benefit from the electronic money transfers.

According to the BSP’s Financial Inclusion Survey in 2017, only 22.6 percent or 22.8 million Filipinos have a bank account.

The Bangko Sentral recently rolled out a roadmap aimed at having 70 percent of the Filipino adult population be financially included by 2023. The BSP targets to increase digital retail transactions by 50 percent in the same period.

BSP Governor Benjamin E. Diokno recently said that financial technology, or fintech, could help bring the Philippines to the new digital economy amid the pandemic.

“Fintechs are uniquely positioned to support the country’s bid to shape a new economy that is more resilient, inclusive and technology-enabled,” he said.

A6 Thursday, June 18, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Helping micro, small entrepreneurs grow

T

he Covid-19 pandemic has brought the global economy on its knees, and the world is staring at possibly the worst economic collapse in nearly a hundred years. Kristalina Georgieva, Managing Director of the International Monetary Fund, said the world is facing the worst economic crisis since the Great Depression of the 1930s. She warned that the pandemic will turn global economic growth “sharply negative” this year.

In the Philippines, the pandemic rendered more Filipinos jobless, with the Philippine Statistics Authority reporting 7.3 million unemployed adults in April. The PSA said this is a record high in the unemployment rate, reflecting the effects of the economic shutdown to the Philippine labor market due to Covid-19.

To their credit, micro and small Filipino entrepreneurs didn’t throw in the towel. Together with other businesses, they jumped into the e-commerce bandwagon as the lockdowns have provided an unexpected boost for online selling.

In the early stages of the Luzon lockdown, local delivery service providers were there transporting food, medicine, thermometers, other essential goods such as hygiene products and medical supplies, clothing, accessories, pet food and other veterinary products. Among other commodities being delivered to our doorsteps are meat and poultry products, organic fruits and vegetables. When the lockdown was extended, enterprising Filipinos sold more products online: Hair clippers, hair dye, hardware products, appliances, electronics equipment, vegetable seeds, indoor plants, pebbles and garden soil, among others.

The Bureau of Internal Revenue noticed the e-commerce boom being fueled by the pandemic. On June 10, the BIR warned online sellers to register their businesses with the agency and settle their taxes. In a memo, the BIR said those who make money on digital platforms should ensure that their businesses are registered pursuant to the provisions of the Philippine Tax Code.

The memo covers “not only sellers/merchants, but also other stakeholders involved, such as payment gateways, delivery channels, Internet service providers, and other facilitators.”

The BIR announcement alarmed small online sellers. Fortunately for them, at least four senators, starting with Sen. Risa Hontiveros, came to their rescue. Senate Majority Leader Juan Miguel Zubiri said the plan to tax online micro and small business is not only insensitive but also totally unnecessary.

“First of all, many of these online sellers are trying to survive during this time of a pandemic and to harass them on their last means of income is heartless to say the least,” Zubiri said. Sen. Sherwin Gatchalian, vice chairman of the Senate committee on economic affairs, shared Zubiri’s stance, saying he also rejects such “insensitive” move and that the government should allow micro, small and medium enterprises to earn while the economy is recovering from the Covid-19 pandemic. Sen. Joel Villanueva was a little blunt: “Wala na ngang ayuda, i ta-tax nyo pa.”

Trade Secretary Ramon Lopez later clarified that small online sellers, or those who earn P250,000 and below annually, are exempted from registering their business with the BIR. “Small businesses are exempted. It’s really an important measure for traceability of what we buy online. If their income is P250,000 and below, they are exempted from registration. At the same time, we also believe in the principle that if you want your business to grow, you need to register,” Lopez said.

As the tax agency drew flak from lawmakers who said targeting pandemicdisplaced workers trying to eke out a living was ill-timed, the BIR on June 15 clarified that temporary online sellers are not required to register their business activities (See, “BIR: Not eyeing small, temporary online business activities,” in the BusinessMirror, June 16, 2020).

BIR Deputy Commissioner Arnel Guballa said those required to register are people who are “habitually” engaged in the online selling business. He explained that the memo was aimed at helping BIR determine the number of online sellers in the country.

Since 2005

BusinessMirror A broader look at today’s business

Voting matters James Jimenez

spox

O

ften, when people are reminded to vote—not told who to vote for, but simply reminded to exercise their franchise —they react with a great deal of skepticism. Voting doesn’t matter, some say, or that their votes won’t count anyway so why should they bother. Not surprising, yes, but still incredibly saddening and, ultimately, wrong.

Voting DOES matter.

While it is true that the candidates we vote for don’t always win, the mere act of voting is itself significant. It is significant in that simply exercising your right of suffrage connects you to the great democratic tradition of individuals taking part in their own governance. It is meaningful in the sense that it allows you to honor the memory of those who sacrificed much, even their very lives, so that Filipinos could enjoy the right of self-determination. But beyond all of that, and in a way more practical sense, voting matters because it gives you a voice in government—yes, even if the one you voted for actually lost.

Whether we like it or not, the

government affects every aspect of our lives—from womb to tomb. By voting, you get the opportunity to put a government in place that will care for you, provide you opportunities for prosperity and happiness, and protect you the way you want. Voting does this because the candidates you vote for act as your representatives.

These candidates, if they win, will make decisions that you presumably agree with or which, at the very least, are based on a vision or philosophy you share. Thus, for instance, if you weren’t a fan of misogyny, then you might vote for someone who carries an anti-misogyny message and passes laws or makes policies that conform with that stance.

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Now, assume that person lost.

Does that mean his or her advocacy is lost as well? Not necessarily.

Ever notice how a small winning margin—“maliit lang ang lamang” as they say—is considered a sort of saving grace by losing candidates?

This is because when the winning margin is small, the losing candidate retains much of his or her power to influence policy—simply by virtue of the fact that a significant number of people believe in the message he or she espouses. To be perfectly frank about it, no winner would ever dare to ignore a candidate who—despite losing—still commands the loyalty of a great number of people. If for no other reason, then because that candidate may actually win the next elections.

Why Trump will win–Part 2?

✝ Ambassador Antonio L. Cabangon Chua Publisher

Whether we like it or not, the government affects every aspect of our lives—from womb to tomb. By voting, you get the opportunity to put a government in place that will care for you, provide you opportunities for prosperity and happiness, and protect you the way you want.

Voting does this because the candidates you vote for act as your representatives.

‘D

onald J. Trump is probably going to be the next US president against all odds.” That’s what I wrote in Why Trump Will Win, six months before the 2016 election.

Hillary Clinton was the 95 percent guaranteed winner an hour before the polls opened. Don’t embarrass yourself by saying that Hillary won the popular vote. Clinton and her campaign people knew that the election would be decided by the 200-year-old Electoral College system. They didn’t find out about that the day after she lost.

Virtually all losing candidates do not have any idea why they lost. The winners are just as ignorant. Their campaign managers are probably the worst. Why do you think most losers in the Philippines claim they were cheated?

Campaign managers think that all they have to do is “Brand and Message” their candidates like they would a shampoo. Get the prettiest model and sell “Conquer the day with fragrant hair.”

They seem to spend more time watching the “based on a true story” film Our Brand is Chaos than the more fictional “Spinning Boris.”

Boris Yeltsin won with 57 percent of

the vote. The “Our Brand” candidate received 22.5 percent and the election was decided by the legislature.

The argument that elections are popularity contests is an easy excuse that insults the electorate and is not based on facts. What the average nonideological voter casts his or her ballot on is based on valid fears and their bank account.

The last two presidential winners successfully tapped into the voters’ fears about corruption (Aquino) and illegal drugs (Duterte). Two unsuccessful campaigns (Villar and Roxas) ran basically on a “pro-poor” campaign, which is nothing more than identity politics.

So the 2020 US presidential campaign will come down to “fears and bank accounts.” With the events of the last few weeks still fresh, will the voters fear more the “racist, misogynistic, Russia-loving, dictator” Trump, or the riots that have looted and burned on the streets of their cities?

Both Aquino and Duterte did not have to emphasize the “bank account voter” except as it applied to “corruption” and “illegal drugs” issues.

Aquino stayed the course on the economic expansion of the Arroyo administration as Duterte has done on the Aquino successes.

Barack Obama’s “Hope and Change” campaign was not as sickly sweet as it appeared. It was a call to break from the traditional politics of the Washington, D.C., insiders that the voters had been fearful of for a decade. Trump tapped the fear of too much illegal immigration and too much economic dependence on China. Trump also rode on the economic successes of the previous Obama administration.

It can be argued that the people are irrational, but that is a lame explanation to deny their fears. Fear is real and it is palatable, like it or not.

In contrast, winners of landslide victories don’t have to worry much about what their less fortunate opponents think. A massive winning margin—as in the case of a landslide victory—sends the signal that the opponent lacks the power to attract votes and will therefore have very little power to shape or influence policy.

And this is why your vote matters. If your candidate wins, then you will have directly influenced the policies and laws that the elected government will push through. On the other, even if your candidate loses, then your vote will still have contributed to ensuring that your candidate—and by extension, your own views on how government should be run—remains a potent political force. This is especially true if the losing candidate continues his or her advocacies despite the loss. In that way, even the loser will continue to have an impact on the public discourse. On the other hand, if you didn’t vote, then you will have simply made your fear of an ineffectual vote a self-fulfilling one, and you will have consigned your candidate—and his or her advocacy for the causes you believe in—to the dustbin of history.

So vote, because win or lose, it really does matter.

The elite—and their campaign managers—are too far removed from the street to understand what the people really think.

So the 2020 US presidential campaign will come down to “fears and bank accounts.” With the events of the last few weeks still fresh, will the voters fear more the “racist, misogynistic, Russia-loving, dictator” Trump, or the riots that have looted and burned on the streets of their cities?

Certainly, much will depend on the economy between now and the end of September and the Third Quarter performance. It is clear that as the US economy gets back to business, the numbers are rising.

“Unemployment in the US falls to 13.3 percent, confounding forecasters.” While the anti-administration press is downplaying the news, “This much better than expected report reinforces our view that April likely marked the trough in US economic activity,” said the Fitch ratings chief economist.

Whatever the outcome, this is going to be one of the most interesting US elections in decades.

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.

Opinion BusinessMirror

www.businessmirror.com.ph

Third telco threat and national security

Fear not Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

Val A. Villanueva

Businesswise

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ill the entry of a third telecom player in the country bring about the much-needed reform in the industry? I seriously doubt it.

It’s going to be a security nightmare for a country like ours whose territorial waters are slowly being gobbled up by Beijing. President Duterte’s invitation for a Chinese telecom company—China Telecom (ChinaTel)—to compete here is akin to freely giving a third party the password to open up the country’s vault of classified national security secrets.

Also, ChinaTel will have an undue advantage over both Globe and Philippine Long Distance Telephone Co. (PLDT). Having no problem of heirloom equipment, it can always tap to the latest technology by means of advanced apparatus and systems that are not only service capable, but much cheaper than those developed a decade ago. It can also use the international gateway that the government has signed with Facebook at a cheaper broadband cost and use the Transco/NGCP nationwide Fiber Optic Cable (FOC) as its backbone and other government telecommunication facilities. Both Globe and PLDT poured in money for their own backbones which eventually limited their ability to deliver fast and cheaper services to remote areas.

Can ChinaTel spur healthy industry competition? Do we even need a third telco player? Perhaps not.

Now this: The US Senate plans to delist Chinese companies from the US Securities Exchanges which have not disclosed whether they are foreign state-backed, such as by the Chinese politburo. This runs parallel to the Philippine senators’ opposition to ChinaTel operating in the country.

To compound the problems of Chinese companies like China Telecom Americas, China Unicom Americas, Pacific Networks and ComNet, the US Federal Communications Commission (FCC) is proceeding with the banning of these companies from operating in the US. Both US government actions are based on concerns about these foreign companies being subjected to control, manipulation and exploitation by foreign governments. Based on past forays of China in other countries’ telecommunications industry, its goal appears to be total dominance—from infrastructure to data piracy, resources and debttrap financing.

An alliance of the Philippines, Vietnam, Thailand, Malaysia, Indonesia, Australia and the United States sees to deal with the aggression that China is displaying—from its wanton use of the West Philippine Sea, the sovereign rights to which were awarded to the Philippines in an arbitration case decided at the Hague—to the control of the national power infrastructure by the State Grid Corp. of China, and now the telecommunications industry through

by Dito Telecommunity Corp. Dito Telecommunity (formerly known as Mindanao Islamic Telephone Co. Inc. or Mislatel) is a consortium of China Tel and Davao businessman Dennis Uy’s Udenna Corp. and its subsidiary Chelsea Logistics Corp.

In the context of Chinese assertiveness, the Visiting Forces Agreement (VFA) which the Philippines signed with the United States was a major balancing factor of power that covers the region. Its termination was seen as a blow, not only to Philippine security, but to the whole of Southeast Asia.

The United States has long been cognizant of the need to restrict Chinese intrusion, especially on its home grounds. Such is the case with Chinese telecommunications companies that can exercise control over infrastructure at the risk of subjecting millions of American users of digital connectivity to cybercrime and electronic espionage.

In the Philippines, Sen. Francis Pangilinan has been consistently warning about ChinaTel’s mandate to gather and send intelligence information to China under China’s National Intelligence Law of 2017 and its Counter-Espionage Law of 2014.

Sen. Grace Poe, Chair of the Committee on Public Services, raised questions about ChinaTel having control of Internet traffic in compliance with the Chinese state’s objective of siphoning off information that can be used by their government.

Sen. Francis Escudero observed that, in the context of an auditing issue recently raised by the Public Co. Auditing Oversight Board (PCAOB) on the US Senate Bill delisting issue, controlling interest of Dito Telecommunity Corp. could be transferred to ChinaTel by virtue of the former borrowing money from the latter for capital infusion. Escudero added that proxy votes could be given to creditors (in this case, ChinaTel), by virtue of a void of accountability that would go around the 60-40 rule. Current efforts at Congress, unfortunately, are focused on debating about allowing 100 percent foreign ownership of companies, such as telcos.

China Telecom Corp., Ltd. is listed as CSA at the New York Stock Exchange, NYSE, and at the Stock Exchange of Hong Kong (SEHK; also known as Hong Kong Stock exchange), under H, as a constituent of the Hang Seng China Enterprises Index. According to the PCAOB, their required audits of Chinese companies registered at both SEHK and at the Shanghai and Shenzhen Stock Exchanges (SSE) have been denied. The Holding Foreign Companies Accountable Act will run counter to the Chinese Securities Regulatory Commission, which requires audit records for Chinese companies listed abroad, like at the NYSE, to be kept in Beijing. Together with this unfulfilled PCAOB requirement of Chinese companies registered in both mainland and Hong Kong stock exchanges, the current US-planned revocation of Hong Kong’s special status due to Beijing’s infringement of the semiautonomous rights in the city will further endanger the financial prospects for ChinaTel in the context of SSE’s affected condition.

Much like the US PCAOB complication encountered in China, accountability and transparency requirements of the Philippines will also be problematic, depending on how a China State-owned company like ChinaTel will handle the reporting of its operations and financial records to the Securities and Exchange Commission and other related agencies.

With a 40 percent stake in Dito Telecommunity, and the joint venture now listed as ISM:PM, the Philippine Stock Exchange should likewise subject the registered Philippine third telco player to further and more thorough scrutiny.

The intertwining issues brought about by the US Senate Bill on delisting Chinese telcos and the FCC move to ban ChinaTel along with three others are said to pose a great challenge to ChinaTel and its joint venture partner Dito Telecommunity.

Industry observers note that there is a need for the joint venture to strictly adhere to Philippine government regulations, corporate standards and good governance in order to preserve our national security and sovereignty. No other ultimate goal is of paramount importance.

For comments and suggestions, e-mail me at mvala.v@gmail.com

T

he mission of mercy on which Jesus sent His apostles, then as now, tests and develops the faith of His followers (Matthew 10:26-33). We need to meditate on the cost of discipleship and the risk inherent in living the Gospel in the midst of the world.

A little flock The company Jesus sent out to all nations was and is only a little flock.

It is a tiny band that in the actual alignment of power and resources is easily dwarfed by the surrounding world, and also in terms of truly committed members. Discrimination, rejection and violent repression have always been the lot from the beginning of those who carry the name of Jesus and proclaim His good news of salvation. Even now, two millennia later, Christians are still confronted by a world that in places and times is outright murderous against bishops, priests, church workers and believers.

The good news of salvation does not appear “good” for many who have different agenda. It radically questions the world that would forget God or pretend there is no God. It challenges any kind of life

built upon values contrary to God’s law. It is inevitable that confrontation would take place. When Jesus sent His disciples into the world to share in His mission, He graphically referred to them as “sheep among wolves” (Matthew 10:16). They are programmed to be at odds with the status quo as they follow the radical ethics that Jesus Himself lived and died for. To really live according to the Gospel is professedly to be in some specific aspects a counterculture.

Do not be afraid

But Jesus does not send His followers out just on their own and defenseless. In the gospel text we have a triple injunction for the disciples not to be afraid. The first assurance that they will not just be suppressed is because “nothing is concealed that will not be revealed, nor secret that

Thursday, June 18, 2020 A7

The good news of salvation does not appear “good” for many who have different agenda. It radically questions the world that would forget God or pretend there is no God. It challenges any kind of life built upon values contrary to God’s law. It is inevitable that confrontation would take place. When Jesus sent His disciples into the world to share in His mission, He graphically referred to them as “sheep among wolves” (Matthew 10:16). will not be known.” This means that the teaching of Jesus, though now relatively hidden and known only to some, will ultimately be spread everywhere. It cannot be stifled and will be proclaimed from the housetops. “Take courage, I have conquered the world” (John 16:33).

The second injunction against fear concerns the bloody persecution against the faithful. Physical violence indicates that the Gospel is truly being delivered to a world that needs it but is still unwilling. When Christianity no longer rocks the boat but has become lukewarm and conformed to the world, evidently there will be no more violent reactions. But murderers can harm only the body, not the soul, not man’s eternal destiny; to be feared is being lost in Gehenna.

The third injunction of Jesus to His followers against fear is the love of God as a Father who deeply cares for them. The comparison with sparrows is poignant when its literal meaning is considered. “Not a single sparrow lights upon [lumalapag] the ground without your Father’s consent.” Not “falling on the ground,” but “alighting” to pick up a grain. God’s constant and protective love for His precious ones is powerfully pictured in this care with which the ordinary movements of a common bird are accompanied by the Creator. For us humans this is dramatized by the observation that every hair of one’s head is accounted for to God. Real trust in the Father liberates the disciples from the crippling grip of fear and empowers them to serve wholeheartedly the cause of the Gospel.

Alálaong bagá, to be on mission for Jesus Christ is to bear witness to Him. It includes questioning things and being a challenge to others. But one need not be afraid, if one is faithful to the Lord. To acknowledge Him before others, even willingly to die for Him if necessary, is to be guaranteed that Jesus is our mediator before the judgment seat of God. At that last moment, we shall hear from Him for the last time, “Do not be afraid!”

Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

Programming stimulus from civil society perspective Dr. Rene E. Ofreneo

LABOREM EXERCENS

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ike in the 2008-2010 global financial crisis, the response of most governments to the Covid-19 pandemic is to craft and implement a stimulus package. The laissez faire style of economic management has given way to the Keynesian approach, which rationalizes government intervention in the market processes. The rationale for government interventionism is to save lives, jobs and livelihoods of the people under a very uncertain and volatile environment.

A quick perusal of the stimulus packages being pursued by governments around the world shows that the stimulus measures essentially fall under two major categories: a) monetary measures such as the lowering of interest rate, increasing money in circulation, funding the flow of credit to distressed businesses, reducing reserves held by banks, etc., and b) fiscal measures such as tax relief to micro, small and medium enterprises (MSMEs) and failing corporations, purchases of stocks of struggling companies, wage and food subsidies to the displaced and vulnerables, water and electricity price discounts, etc. In the Philippines, the Bayanihan to Heal as One (BAHO 1) and the proposed BAHO 2 revolve around four government objectives: to organize the health system in response to the pandemic, to provide social assistance to the most vulnerable, to assist select industries, and to infuse liquidity in the financial system.

Stimulus spending is naturally expensive. The US has turned out to be the biggest spender, with several trillions of dollars lined up to rev up a flattened American economy. In Covid-stricken Europe, the stimulus budget adopted by major European governments is generally from 5 to 10 percent of their respective gross domestic product (GDP), a percentage enough to cover the universal social protection budget of developing countries (per an earlier study by the ILO).

In the Philippines, the budget for BAHO 1 was P1.4 trillion. For BAHO 2, over a trillion-peso budget is again being proposed.

Stimulus spending also means deficit spending, meaning the government spends beyond the money it has and beyond the revenues it can raise through taxes and other

incomes within the stimulus period. Deficit spending then forces governments to resort to borrowings or to issue new money in the system with some help from their Central Banks. However, such borrowings and money infusions have limits. A government cannot issue money in an unlimited way without debasing the value of its currency and without inflicting another economic crisis on its people—hyper inflation.

As to unchecked debt accumulation due to deficit spending, two lessons from the Philippine debt experience in the last five decades stand out: the high cost of debt servicing and the high cost of economic subservience to the policy conditionalities of the creditors. On the first, it should be pointed out that it took the Philippines at least three painful decades (1980s-1990s2000s) to go over the debt hump.

It had to allocate over 50 percent of the national budget (sometimes as high as 90 percent of the annual budget in some years!) to service a national public debt, which swelled from $26 billion in the mid-1980s to over $100 billion in the 2000s despite the country shelling out over $100 billion as total debt service.

As to the policy conditionalities, suffice it to say that the International Monetary Fund and World Bank used the debt crisis to impose on the Philippines a neoliberal “structural adjustment program,” a program which failed to deliver industrial and agricultural growth for the country. And yet, the Philippines managed somehow to grow in recent years despite the debt service debacle and the SAP failure. This is due to two phenomena: growth of the army of overseas Filipino workers (OFWs) [from around 50,000 in the mid-1970s to over 10

million today], and the unexpected but spectacular growth of the call center-business process outsourcing (BPO) sector.

But with tens of thousands of OFWs being displaced around the world today and with the call center-BPO sector slowly declining jobs-wise, the Philippine government clearly cannot engage in unlimited stimulus and deficit spending. With BAHO 1 and other government spending, the so-called low debt-to-GDP ratio achieved by the country in recent years has already increased from 40 to over 50 percent. This is clearly the reason why both Department of Finance Secretary Carlos Dominguez and Neda DG Karl Chua have been dousing cold water on the new stimulus programs being pushed

by Congress—the P1.3 trillion Accelerated Recovery and Investment Stimulus for the Economy and the P1.5 trillion Covid-19 Unemployment Reduction Economic Stimulus. ARISE replicates BAHO 1/BAHO 2 programs, with special focus on assistance to MSMEs and the business community. CURES, on the other hand, seeks more funding for infrastructure projects, particularly rural infras.

So, should the country be satisfied with the ongoing programs of the government under BAHO 1/ BAHO 2, which Neda is trying to translate into its Recovery-Resiliency development thrusts?

We believe there is so much room for the improvement of the stimulus package. It will do well for the government to be open-minded about this. The survival needs of the people under the Covid-19 pandemic and the challenge to use the pandemic as an opportunity to pursue a recovery-growth program that steers the country away from the narrow SAP-oriented development path require sustained social dialogues and consultations with critical segments of Philippine society.

In line with this, we would like to raise the following concerns: 1. Need to address the survival needs of all the vulnerables on a sustained and transparent manner. No ifs and buts on this. The initiatives to attend to the needs of the frontliners and provide social amelioration assistance to the vulnerables are good. But such initiatives should be continuing ones because the epidemic and the onand-off ECQs/GCQs are continuing phenomena. The complaints on the exclusion of the migrants,

unlisted informals, displaced middle-income earners can be corrected by making the survival program for the vulnerables truly inclusive, universal and sustained.

Covid-19 also gives the government the opportunity not only to rebuild the broken public health care system but also to make the universal health care law implementation a reality. How? By developing nationwide a system of community-based preventive care systems complete with clinics, doctors, nurses and community health training and readiness programs.

Job creation is central in survival. Given the flattened economy at home and the shrinking jobs prospects in the overseas labor market, the government has to play to the maximum its role as a job creator and employer. But it can do this in a more organized, productive and practical way. For example, the “build, build, build” projects dependent on government funding should be tweaked in support of the rebuilding and re-development of the communities of the poor and the informals—be they in the urban or rural, upland or coastal, or peri-urban areas. Tens of millions of jobs can be developed given the weak infras in these areas and the past government neglect for such infras, e.g., better pathways, multi-purpose community centers, strengthening of dikes, clearing of esteros, better barangay roads, etc.

The government’s call for Bayanihan should be translated into action. As defined, bayanihan is an age-old socio-economic-cultural concept among the poor—solidarity support for one another when starting a productive project such as building a house for newly-weds.

Bayanihan is supplemented by the concept of damayan (helping one another in bad times) and tangkilikan (helping one another sustain a growing project such as a farm business or a cooperative). Promotion of solidarity economy based on the triple concepts of damayan, bayanihan and tangkilikan can make the informals and entrepreneurial poor rebuild jobs and communities. In this program, government and civil society should join forces in providing credit, technical and digitalization assistance to the solidarity economy builders.

To be continued in the next issue For inquiries, please e-mail reneofreneo@ gmail.com.

A8 Thursday, June 18, 2020

Recall, review ‘confusing’ order targeting online traders, BIR told O

By Butch Fernandez @butchfBM & Cai U. Ordinario @caiordinario

PPOSITION Sen. Risa Hontiveros asked the Bureau of Internal Revenue on Wednesday to “withdraw, review and rewrite” a BIR memorandum circular requiring online sellers to pay thousands of pesos to register

by July 31 in order to avoid penalties.

The senator observed that the BIR memo “triggered confusion among online sellers,” prompting her to suggest it would be better for the BIR to “recall the memo in order to review and rewrite the guidelines issued by the bureau.”

Hontiveros made the suggestion a day after BIR Deputy Director Arnel Guballa clarified that the tax agency was not targeting small-time sellers or those temporarily engaged in online enterprises to tide them over after pandemic-induced lockdowns disrupted businesses and displaced thousands of workers.

In a statement on Wednesday, Hontiveros prodded the Bureau “to withdraw, review, and rewrite Revenue Memorandum Circular [RMC] 60-2020 on the taxing and registration of online

sellers, which was released early this month, alarming small online sellers who criticized the move as ill-timed and insensitive.”

She noted that the circular notified all persons doing business and earning income through the use of any electronic platforms and media, and other digital means to register their businesses pursuant to Section 236 of the National Internal Revenue Code (NIRC) by July 31, 2020.

In a mix of English and Filipino, the senator pleaded on behalf of affected sectors that, “if there’s a deadline, please reset it because we are in the midst of a crisis.”

At the same time, she suggested that BIR “put its clarifications about the said memorandum in writing” after noting that the Department of Trade and Industry earlier claimed

small online sellers or those who earn P250,000 and below annually are exempted from registering their business with the BIR—along the same lines spelled out by Guballa in a radio interview and a separate interview with BusinessMirror.

According to Hontiveros, RMC 60-2020 is still enforceable. “Strictly speaking, its text still mandates all, including small online sellers, to register with the BIR.” She suggested it would be “better if the BIR can declare a moratorium in registration of online sellers and withdraw the guidelines under RMC 60-2020 during the period of crisis.”

Digital tax

GUBALLA said the BIR does not aim to tax small online sellers, particularly those who just lost their jobs and resorted to online selling to tide their families over.

The main focus of the proposed legislation are large online sellers such as Lazada or foreign players such as Amazon and Netflix.

Guballa explained that when Filipinos pay for subscription to ser vices such as those offered by Netf lix, the cost includes the value-added tax (VAT) which should be remitted to the Philippine government.

He assured the public that as long as the incomes of online sellers do not exceed P250,000, they do not need to pay any taxes, based on the provisions of the TRAIN law passed in 2019.

He said online sellers only need to register and pay the P500 fee and the P30 documentary stamp tax. Registration of online business, he said, is not a new policy of the BIR. Guballa said since 2013, the BIR has been requiring online businesses to register their business.

But with the rapid increase in the number of online sellers due to the pandemic, the government decided to strengthen its campaign of asking online sellers to register.

Efforts to digitize the country’s tax registration system are also under way. Guballa said in a month or two, the BIR would be able to accept online registrations.

Help unemployed–Villanueva

MEANWHILE, Sen. Joel Villanueva appealed to the government to give more leeway for online sellers, instead of cracking the whip on them, especially since these individuals come mostly from ranks of the unemployed and are on survival mode.

In a statement, Villanueva explained that most online sellers are focused on earning enough to provide for their basic necessities now given that stable jobs are hard to come by as employers and the labor market continue to grapple with the effects of the Covid-19 pandemic.

“Our workers only have a simple consideration in venturing into online selling: they need to earn and put food on the table and shoulder the bills for rentals, water, electricity and others,” pointed out Villanueva, who chairs the Senate labor committee.

Villanueva also cited the importance of providing training to first-time sellers on entrepreneurship so that they can include in their pricing the costs related to the business which are often overlooked. For instance, those without a background on bookkeeping may need to hire one to maintain their business’ book of accounts and keep track of the periodic filings with the BIR, he said.

He maintained that the priority of tax authorities should be going after firms with outstanding tax obligations such as Philippine Offshore Gaming Operators, which owe the government at least P50 billion last year.

DEPED PROBES FACE MASK SHARING IN BICOL GRAD RITES INTERTROPICAL CONVERGENCE ZONE (ITCZ) AFFECTING MINDANAO EASTERLIES AFFECTING SOUTHERN LUZON AND VISAYAS as of 4:00 am - June 17, 2020

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HE Department of Education (DepEd) has launched a fact-finding investigation following a report of breach of minimum health protocols and standards in DepEd Region 5 where students shared one face mask during a graduation rites.

In a statement issued on Wednesday, the DepEd said the local DepEd Covid-19 Task Force is actively monitoring the health of the learners concerned through the regional office, noting that social distancing was not also followed.

"We have also asked the person involved in the breach to submit a written explanation," DepEd said, referring to the incident at Barangay Dogongan, Daet, Camarines Norte, last June 11, 2020. The investigation is being conducted by the Division Investigation Committee (DIC)

formed by DepEd Region 5.

"We take this matter seriously and will have a firm and rectifying action to prevent further breach in the future," the DepEd said. It has coordinated the case with the Barangay Health Emergency and Response Team (BHERT) and the local government unit in conducting initial precautionary measures and in resolving the incident at the soonest possible time.

The DepEd reiterated that the graduation and moving up rites that require face-to-face interaction are postponed until further notice.

"Schools and community learning centers are highly encouraged to conduct virtual rites and other alternative non face-to-face activities to celebrate the end of the school year," the DepEd said.

Continued on A2

Prolonged stay at sea of seafarers alarms Marina

By Lorenz S. Marasigan @lorenzmarasigan

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HE Maritime Industry Authority (Marina) is seeking the approval of the Inter-Agency Task Force on Emerging Infectious Diseases (IATF) to allow the mass repatriation of Filipino seafarers, as prolonged stay at sea could pose safety occupational and operational risks.

Marina Administrator Robert A. Empedrad said he will formally submit a letter of request to the IATF on Friday, to prioritize the repatriation of seafarers who have been onboard their employers’ ships for over 10 months, or the internationally mandated period of work for seafarers.

“I am going to request if they can have our seafarers back to the Philippines, especially those who have exceeded 10 months onboard ships, which may take a toll on their emotional and physical health. It can also affect efficiency and performance, and it will have an impact on safety,” he said.

Empedrad echoed the sentiments of International Maritime Organization (IMO) Secretary General Kitack Lim, who was quoted in a Reuters report as saying that the situation of stranded seafarers now represents a “humanitarian crisis.”

“Governments must allow shipping to continue moving by getting seafarers to their homes, and to their ships to work,” Lim was quoted as saying.

Empedrad said crew change initiatives is a priority for Marina, citing reports that some seafarers have already committed suicide due to psychological issues.

Last week, Foreign Affairs Secretary Teodoro L. Locsin Jr., in announcing with sadness the death—by apparent suicide—of a 28-year-old mariner found dead in her cabin, deplored the off-and-on clearances given to repatriation missions, deeply frustrating the stranded OFWs and the diplomatic posts at the frontlines of such difficult, complicated operations.

Empedrad said on Wednesday, “Safety is definitely in play into the equation. We have to allow our seafarers to go home, and have them replaced with new crew. This is a safety issue.”

The Marina chief could not readily provide the number of Filipino seafarers who need to be repatriated—either because they have exceeded the maximum number of months mariners should stay at sea, their contracts have expired, or they have lost their jobs after the Covid-19 pandemic upended the multibilliondollar cruise ship industry.

There are about 500,000 Filipino seafarers across the globe— 400,000 internationally, 100,000 locally.

Legal issues hound effort to get franchise taxes from POGOs

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XISTING laws prevent the government from collecting franchise taxes from Philippine Offshore Gaming Operators (POGOs), according to the Bureau of Internal Revenue (BIR).

In a televised briefing on Wednesday, BIR Operations Group Deputy Commissioner Arnel SD. Guballa said collecting taxes from POGOs has now become a legal question.

Guballa said the government aims to collect franchise taxes from POGOs, as stipulated under Presidential Decree No. 1869 and Revenue Memorandum Circular (RMC) No. 102-2017.

“Since you are doing business here in the Philippines, you should pay the franchise tax. Although, when you read the law, its not clear whether or not these offshore companies are liable [to pay] franchise tax.

This is where we are encountering legal issues when it comes to POGOs,” Guballa said in a mix of Tagalog and English.

Under PD No. 1869 and RMC No. 1022017, gross gaming revenues or earnings from gaming operations of franchise holders are subject to a 5-percent franchise tax, in lieu of all other taxes.

However, Guballa said, the lawyers of POGOs point out that since POGOs are “operating offshore,” they should not be taxed by the Philippine government. Nonetheless, the BIR official assured the public that the BIR is doing its best to collect taxes from POGOs.

Collect POGO taxes

EARLIER, Sen. Joel Villanueva said the government should first go after the uncollected P50-billion tax due from POGOs before targeting “small fry” among taxpayers.

He made the call while noting that weeks after the BIR issued an order for firms to submit a notarized commitment to pay arrears of previous years,

none of the delinquent POGOs had stepped forward, per BIR report.

Villanueva prodded the BIR to “intensify its information campaign to encourage MSMEs to register with the BIR, the benefits of doing so and the taxes applicable to them even as he cited, for instance, that under the TRAIN law, sole proprietorship earning P250,000 or less is not subject to tax.

Pointing out that the government appeared to be bending over backwards in urging POGO firms to pay their unpaid taxes, Villanueva lamented that “their call has fallen on deaf ears.”

As a condition for allowing them to resume their operations, “POGOs must settle taxes [they owe] the government,” including, he said, a notarized commitment to pay arrears in previous years, under the BIR’s Revenue Memorandum Circular No. 46-2020 issued on May 7, 2020. Cai U. Ordinario

Companies BusinessMirror

www.businessmirror.com.ph

Thursday, June 18, 2020

B1

PLDT taps dollar bond market for funds

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By Lorenz S. Marasigan

@lorenzmarasigan

FTER almost two decades, PLDT Inc. has returned to the international bond market, after successfully setting the terms of a $600-million dual-tranche offering, proceeds of which will be used to refinance existing debt and partially fund its capital expenses.

Manuel V. Pangilinan, the company’s president, announced that the dollar-denominated long 10-year and 30-year have fetched a coupon

price of 2.5 percent and 3.45 percent, respectively. These are payable semiannually.

The bonds were priced at T+180

Pedestrian pass by the logo of PLDT in Makati City. Photographer: Jay Directo/AFP via Getty Images/Bloomberg News

and T+195 with a re-offer yield of 2.566 percent and 3.495 percent.

“We are mindful that our perfor-

mance in the coming years should match the expectations of the market that received us so warmly,” said Pan-

SEC: Be wary of Bitcoin Revolution

By VG Cabuag @villygc

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he Securities and Exchange Com m i s s ion (SE C ) on Wednesday said it has issued another warning against Bitcoin Revolution, which presents itself as a cryptocurrency trading program and fakes the endorsement of government officials, businessmen and celebrities.

In an advisory, the SEC asked the public to avoid or stop investing in schemes offered by Bitcoin Revolution, or any other entities engaged in digital asset trading and promising high rates of return with little or no risk.

Bitcoin Revolution, which the SEC said has unknown operators, is notorious for using fake endorsements from the likes of Sen. Manny

AllHome to unveil smaller format stores

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llHome Corp., the listed retail arm of the Villar group, on Wednesday said it will introduce a smaller format of its big-box stores as the company adopts to the new normal with consumers changing its buying behavior.

In a statement, the company said it is introducing All Home Quick Fix, which it said will leverage on community locations of its sister firm Vista Land and Lifescapes Inc., the property development arm of the Villar group.

“A compact and efficient format, All Home Quick Fix carries essential everyday home needs that covers the basics of home improvement and repair. It provides a substantial offering of options and choices for DIY [do it yourself] and home improvement, covering a near identical set of key categories that can be found in the Philippines’ only one-stop shop home store: hardware, furniture, appliances, home wares and linens,” it said.

All Home vice chairman Camille A. Villar said she still views 2020 with optimism despite the effects of the Covid-19 pandemic.

“With the lockdown easing out and when the economic situation improves, AllHome may see itself opening more new stores, given its capability to fast track fit-out construction. In the meantime, our focus will be on improving the efficiency and productivity of the new stores and further enhancing the merchandise mix that would suit the changing demands of each store,” she said.

The company has 45 stores all over the country, and adding 22 new locations last year alone.

The company's income in the first quarter rose 30 percent to P270.2 million, from last year's P207.1 million, mainly as a result of its aggressive expansion.

Revenues for the period rose 41 percent to P3.4 billion, from P2.4 billion in the same period in 2019, the company said. VG Cabuag

Pacquiao, former Senator and House Speaker Manuel B. Villar Jr. and television host Boy Abunda.

Only recently, the Department of Finance alerted the public about false information about the Secretary of Finance supposedly promoting Bitcoin Revolution.

“The public must be mindful that cryptocurrencies are very volatile and the process of digital asset trading is highly speculative and involves a higher degree of risk and that the operations of such unregulated entities engaged in digital asset trading are completely unaccountable,” the SEC said. “Nevertheless, the Commission assures the public that it continuously monitors and oversees such entities and their activities in a way that it sees as proper in order to prevent the proliferation of scams and/or any other unauthorized or il-

legal schemes in the country.”

The agency issued the warning after it learned that Bitcoin Revolution continues to solicit investments from the public using the domain “the-bitcoinrevolution.com” without the necessary license.

Under the scheme, investors can earn as much as $1,000 from a minimum investment of $250 within a day, a 300-percent return on investment per day or a total of 9,000 percent per month.

Bitcoin Revolution also claims that some of its traders managed to become millionaires in less than two months by simply investing in its scheme that offers a unique automated trading system or platform with a success rate of as high as 99 percent per transaction.

The scheme involves the offering and sale of securities, in the form of

investment contracts, as investors need not exert any effort other than to invest or place money in Bitcoin Revolution in order to derive income, according to the SEC. As such, the investment contracts must have been duly registered with the SEC while Bitcoin Revolution and its agents must have secured the corresponding license to offer securities for sale to the public, as required under the Securities Regulation Code.

“Aside from the missing registration and licenses, the quick and unrealistically high return promised by Bitcoin Revolution presents a red flag for a Ponzi scheme, an investment scam where investors are paid using funds contributed by the succeeding investors.”

The SEC first flagged the unauthorized activities of Bitcoin Revolution in late March.

Oil firms start collecting additional tax

By Lenie Lectura @llectura

S

ome petroleum stations have started implementing the additional 10-percent tax on crude and petroleum products, according to the Department of Energy (DOE).

The DOE said Shell Philippines has reported that 644 of their liquid fuel retail outlets have implemented the tariff adjustment for diesel products only, with this week’s adjustments generally reflecting upward developments in the global oil markets.

President Duterte signed Executive order (EO) 113 on May 2, temporarily imposing an additional 10 percent import tax on petroleum products to help augment government funding in the fight against Covid-19.

The additional tax should be reflected in price adjustments only after oil companies have exhausted existing inventories that have been purchased prior to the issuance of EO 113. Projec-

tions based on their inventory reports indicated that the added costs might be included beginning the third week of June.

The government expects to generate a total of P6.78 billion from May to December this year from the additional oil import tariffs.

Energy Secretary Alfonso G. Cusi said Wednesday that he has directed the DOE-Oil Industry Management Bureau (OIMB) to ensure the proper implementation of the additional 10-percent tax on crude and petroleum products.

“Upon the release of EO 113, our Oil Industry Management Bureau immediately met with industry stakeholders to discuss the way forward, including their strict compliance with the EO’s guidelines,” said Cusi.

The DOE noted that even with the additional P 1.50-P 1.60/liter tariff range, prices of petroleum products continue to remain low. Cumulative rollbacks from January 2020 to date stand at P6.72/liter for gasoline, P 9.99/liter for diesel, and P 13.69/liter for kerosene.

“Protecting our consumers is always our top priority. We will not allow any unfair practice to derail consumer interests, especially given the challenges we continue to face in the midst of the pandemic,” said Cusi.

Under EO 113, the temporary imposition of additional tariffs will immediately revert to zero percent upon the certification of the DOE that a trigger price has been reached (when Dubai Crude reaches $64/bbl), or when the Bayanihan to Heal as One Act ceases to be in effect, whichever comes first.

Last Tuesday, oil firms raised gasoline prices

by P1.25 per liter, diesel by P1.10 per liter and kerosene by P0.75 per liter.

The price adjustment last June 16 was the third consecutive price hike for diesel and kerosene since the start of the month. Prior to this week’s price hike, gasoline prices also increased last June 9.

Oil firms adjust their pump prices every week to reflect movements in the world oil market.

UnionBank avoids layoffs during pandemic

By Tyrone Jasper C. Piad @TyronePiad

W

ith the unprecedented shift to digital, Union Bank of the Philippines said it has been retooling and upskilling employees to avoid layoffs amid the Covid-19 pandemic.

UnionBank Executive Vice President and Chief Human Resource Officer Michelle Rubio, in a webinar on Wednesday, said the bank has been exerting efforts in strengthening the digital skills of the workforce even before the community quarantine.

“It is evident that we are moving people because jobs are changing. Some jobs as a result of digitization are no longer there," she said.

Considering this, Rubio said UnionBank has been constantly retooling and redeploying employees to other jobs. “That has helped us provide employment and not actually let go of people.”

The UnionBank official said the company was conducting work force planning to know what are the capabilities needed to be taught.

She said conducting surveys to receive feedback from the employees regarding the upskilling initiatives was also helpful to shape the bank’s planning process.

“We are also attuned to the trends of what's happening externally and how we are going to pivot for the next year or the next succeeding years."

Rubio said the bank had an easy transition to digital platforms as it has been using them even prior to the lockdown, noting that some employees are practicing telecommuting already.

“We’ve invested in technology upgrading because we need the infrastructure to get to this stage. These investments have actually produced great results for us.”

Rubio added that working from home did not affect productivity as well. As an

example, she said the bank was able to recently launch a feature in its digital app allowing users to transfer money via remittance outlets.

Currently, she said 70 percent of its employees are currently working remotely, but more are gradually going back to the workplace as lockdown restrictions ease.

UnionBank saw its net profits soar by 22 percent to P2.6 billion in the first quarter on the back of robust revenue growth. Its top line figures were up 37 percent to P9.5 billion for the period supported by net interest income, which rose by 47 percent to P6.8 billion.

It allocated P1.3 billion for potential loan losses in the first quarter—up by over sevenfold from P174.6 million the previous year—to cushion the impact of the pandemic.

UnionBank shares ended flat at P55 apiece amid the 0.004-percent uptick for the benchmark index on Wednesday.

gilinan. The company first entered the international bond market in 2001. It also markets the lowest ever coupon for a 10-year and 30-year issuance by a Philippine corporate, as well as the first 30-year offering for a non-government entity out of the Philippines.

The turnout was also a record for a Filipino company, as it was oversubscribed by 17x.

PLDT’s successful bond sale may have been driven by “strong liquidity and yield pickup,” National Treasurer Rosalia de Leon said in a mobilephone reply to query. She said the government “will see” if there’s an opportunity for the sovereign issuer to return to the dollar bond market this year.

“While the proceeds will go mainly to refinancing our existing debt

at lower interest rates, a portion will also be used to fund capital expenditures so that we can continue investing in network leadership and drive revenue growth,” PLDT CFO Annabelle L. Chua said.

The company revised its capital expenditures (capex) forecast for 2020, with executives saying that it may spend 25 percent less than the original outlay. Pangilinan said capex for the year may settle at around P63 billion, a P20-billion reduction from the programmed P83-billion capital for 2020.

This decision came as the company’s sources of materials for its infrastructure build have limited shipments. This is exacerbated by the fact that lockdowns on different levels have been imposed in various areas in the Philippines. With Bloomberg News

PHL still on investors’ radar—Pilipinas Shell

D

espite challenging times, Pilipinas Shell Petroleum Corp. (PSPC) said the country is “still an appealing market” for investors.

PSPC Chairman Min Yih Tan said during the company’s virtual stockholders’ meeting that the Philippines continues to maintain robust macroeconomics and attractive demographics. This, he added, puts the country in a good position to survive and recover from the crisis.

“As one of the more robust economies in the region, Philippines grew by 5.9 percent in 2019. This was accompanied by the energy demand in the industrial, commercial and domestic sectors. Together with the low motorization rate compared to other countries and attractive demographics, Philippines is an appealing market to invest and grow,” he said.

The publicly-listed oil company has put in place “recovery” strategies across its businesses after posting a P5.5-billion in net loss in the first quarter.

“Although Pilipinas Shell’s first quarter result this year was impacted, our recovery strategy are in place for all lines of business. Coupled with our strong track record, Pilipinas

Shell is poised to seize opportunities and positioned for success. We are in a robust standing not only to deal with market volatility but also are ready to support the country’s growth as it enters the new normal,” he added.

During the first three months of the year, PSPC had to deal with plummeting oil prices resulting from the price war between Saudi Arabia and Russia; disrupted supply chain and distribution network brought about by the eruption of the Taal volcano; and declining demand brought about by the pandemic.

“The crisis is far from over as the effects of ECQ [Enhanced Community Quarantine] will be probably be more felt in the second quarter,” said PSPC President and CEO Cesar Romero.

‘It is not clear how long recovery will take and what shape or form the new normal will take. What is clear though is we must show leadership and take early and decisive action to stay resilient as a company. One of the key priorities is enhancing our focus on cash management, including our ability to generate revenues, reduce costs, reduce capex [capital expenditure] and manage working capital.” Lenie Lectura

Subic firms get another 30-day extension to renew permits

S

ubic Bay Freeport—Business locators in this freeport, whose registration had expired since the imposition of enhanced community quarantine (ECQ) in March, have another 30 days to renew their permit with the Subic Bay Metropolitan Authority (SBMA).

SBMA Deputy Administrator for Business Kenneth Lemuel Rementilla said the SBMA has extended until July 13 the validity of Certificate of Registration (CR) and Certificate of Registration and Tax Exemption (CRTE) issued to Subic-registered companies.

The extension approved by SBMA Chairman and Administrator Wilma T. Eisma effectively granted a 120-day reprieve to businesses with expired registrations since March 17 when the Subic Bay Freeport began operating under quarantine rules.

Rementilla said the SBMA board of directors initially approved a 30-day amnesty to Subic Bay Freeport enterprises whose registration would have expired within the ECQ period, or from March 17 to May 13, as well as to those whose CR or CRTE expired prior to the ECQ, but had already applied for renewal before March 17.

This extension also applies to sub-lessees whose sublease would have expired during the said ECQ period, provided that no protest was received from the sub-lessor during the extended period,

T

Rementilla added.

Following the initial extension, Eisma, who was authorized by the SBMA board to further extend the validity as needed and pursuant to national government directives, first granted an extension until June 13. “[However], in view of the continuing community quarantine imposed in the Subic Bay Freeport, Chairman Eisma further extended the validity of the CRs and CRTEs of Subic Bay Freeport locators until July 13,” said Rementilla.

Prior to this, the SBMA also further suspended the collection of penalties and other fees from business locators and residents until the end of June to help ease economic difficulties during the pandemic.

The extension covered penalties on late payment of billings, fees on deferment of deposit for maturing post-dated checks, and due dates covering payment schemes with deed of undertaking, which were all initially suspended from March to May. The SBMA had similarly granted a validity extension for the IDs and access passes of SBF workers until June 30 and allowed the renewal until July 31 of vehicle decals with one-year validity issued in 2019. Henry Empeño

CORRECTION

he BusinessMirror published a story on June 15, 2020, indicating that the Subic Bay International Terminal Corp. (SBITC) laid off 121 employees. In a letter, Philippine Growth Terminals-ICTSI CEO Roberto R. Locsin said the company has not let go of the workers and has no plans of laying off anyone due to a business loss in the near future as it relates to the Covid-19 crisis. The BusinessMirror regrets the error.

B2

Companies BusinessMirror

Thursday, June 18, 2020

BDO exec: Higher provisions to safeguard balance sheet

By Tyrone Jasper C. Piad

W

@TyronePiad

hile BDO Unibank Inc. increased provisions for bad debts substantially, the bank reiterated that it was not incurring losses and its capitalization has remained robust.

The Sy-led bank stressed that hiking allowance for bad debts was in anticipation of potential losses from loan portfolio amid the coronavirus pandemic.

“This move is anticipatory in nature. We are not yet experienc-

ing losses,” BDO President and CEO Nestor V. Tan said in a recent stockholders’ meeting.

“The additional provisions are meant to safeguard our balance sheet and will not impair our capital which is strong enough to withstand

near-term shocks.”

BDO earlier mentioned it was prudent to allocate P20 billion in provisions, in addition to over P2 billion earmarked during the first quarter.

With increased allowance, the listed bank said it was expecting its nonperforming loans 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.

Tan underscored that the bank’s capital position was still strong despite heightened provisions, adding that BDO was still declaring regular quarterly dividends.

BDO earlier this month approved the declaration of regular cash dividends on common shares amounting to 30 centavos apiece for the second quarter.

The bank’s total capital base rose to P372.2 billion in the first quarter, booking capital adequacy ratio of 13.8 percent and common equity tier 1 of 12.7 percent.

The Sy-led bank saw its first quarter earnings drop 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.

In the same meeting, the BDO chief said the bank has been scaling down branch operations and running with a skeletal work force amid lockdown measures and physical distancing.

Shares in BDO slid by P2.30, or 2.25 percent, to end at P100.10 each amid the 0.004 -percent growth for the benchmark index on Wednesday.

‘Lockdown to cut income of German firms in PHL’

By Elijah Felice E. Rosales @alyasjah

M

ajority of German firms here in the Philippines are anticipating their incomes to plunge as an effect of the lockdown, and they are seeking the government’s help in reducing administrative burdens to recover their losses.

In a survey, 86 percent of German investors said they are expecting sales to decline this year due to the coronavirus pandemic and the consequential quarantine. Among those projecting a sales decrease, most are staring at double-digit losses of up to above 50 percent.

Travel restrictions in effect remain to be the most concerning issue for business, while over half of German firms reported issues relating to postponement of investments, cancellation of trade fairs and disruption in the supply chain and logistics.

“While postponed investments [55 percent] and problems in supply chain and logistics [54 percent] remain high like in the April WBO [World Business Outlook], the importance of concerns regarding the cancellation of scheduled trade fairs/events rose from 47 percent to 54 percent. This shows the interest of the economic stakeholders to

meet clients and exchange about the trends in these disruptive times,” the survey read.

In terms of state measures, German firms said they will most appreciate if the government reduces administrative burdens, particularly on customs, permits and licenses.

Second priority for them is the passage of stimulus packages that would result in the provision of fiscal incentives to investors and of support for consumption. More than half of the respondents said the legislation of corporate tax rate reduction proposed under the Corporate Recovery and Tax Incentives for Enterprises Act would be most appreciated at this time.

Likewise, 47 percent of German firms said they would need financial liquidity measures, such as access to financing and loans, in the lockdown aftermath, while about 42 percent said they would require provision of essential health needs, particularly test kits.

For Tristan Arwen G. Loveres, president of the German-Philippine Chamber of Commerce and Industry, the poll only illustrated how far reaching the impact of the pandemic is to the business operations of investors. As such, he argued it is critical for the government to concentrate on passing the stimulus packages to alleviate the economic

Vivant Energy taps Malaysian firm to develop solar projects

V

ivant Energy Corp. said it has tapped a Malaysian solar energy provider to develop two solar power projects.

An EPC (engineering, procurement, construction) contract was awarded to Solarvest Energy Sdn Bhd for the development of solar PV systems at 10 designated buildings, with cumulative capacity of 816.2-kilowatt peak (kWp), at the University San Agustin in Iloilo City. Solarvest will also be in charge of the commissioning works.

Solarvest will also develop for Vivant the 377.52 kWp solar PV systems for Bulihan Industrial Park located in Bulacan.

“We’re glad to have Solarvest as our partner in providing solutions that power the success of our customers.

We choose partners based on a shared commitment in providing innovative, diverse and customer-

focused energy solutions that will enable our customers to turn challenges into opportunities in our changing world,” said Vivant Energy COO Emil Andre M. Garcia. Solarvest is a leading solar turnkey engineering, procurement, construction and commissioning (EPCC) service provider. It also has an established track record of large-scale solar PV projects as well as residential, commercial and industrial properties projects. It also provides operations and maintenance (O&M) services of solar PV systems.

“This marks our first expansion beyond Malaysia, and we are thrilled to have received the opportunities and confidence from an established industry player such as Vivant Corporation,” said Davis Chong Chun Shiong, Group CEO of Solarvest. Vivant Energy is a fully owned subsidiary of Vivant Corp. and manages the parent company’s investment in energy distribution and generation, retail electricity supply and energy-related engineering solutions in Luzon, Visayas and Mindanao.

Vivant Energy combines existing and emerging technologies to develop energy solutions for industries and institutions. Lenie Lectura

impact of the health crisis.

“We encourage all stakeholders to get the proposed economic stimulus packages quickly approved to mitigate the negative impacts on the

mutual funds

economy,” said Loveres.

The survey was conducted between June 5 and June 12. It gathered the insights of 87 German investors here in the Philippines.

June 17, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 205.41 -22.82% -9.47% -5.02% -18.45% ATRAM Alpha Opportunity Fund, Inc. -a 1.0419 -36.25% -12.96% -6.29% -24.61% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7857 -32.67% -13.85% -7.64% -24.26% Climbs Share Capital Equity Investment Fund Corp. -a 0.7131 -24.71% n.a. n.a. -20.51% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6867 -22.13% n.a. n.a. -19.15% First Metro Save and Learn Equity Fund,Inc. -a 4.4079 -20.13% -7.24% -4.7% -17.27% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6978 -21.2% -9.94% n.a.

-18.25% MBG Equity Investment Fund, Inc. -a 80.41 -33.86% n.a. n.a. -22.18% PAMI Equity Index Fund, Inc. -a 41.4039 -21.44% -7.76% -3.96% -19.26% Philam Strategic Growth Fund, Inc. -a 440.45 -19.69% -7.13% -4.35% -17.33% Philequity Alpha One Fund, Inc. -a,d,5 0.8982 n.a. n.a. n.a.

-12.8% Philequity Dividend Yield Fund, Inc. -a 1.0416 -22.01% -7.5% -3.85% -19.06% Philequity Fund, Inc. -a 30.6955 -21.73% -6.98% -3.53% -19% Philequity MSCI Philippine Index Fund, Inc. -a 0.8161 -22.85% n.a. n.a. -19.84% Philequity PSE Index Fund Inc. -a 4.2191 -21.08% -7.25% -3.21% -19.23% Philippine Stock Index Fund Corp. -a 705.89 -20.91% -7.23% -3.4% -19.06% Soldivo Strategic Growth Fund, Inc. -a 0.6445 -30.88% -10.95% -7.46% -24.3% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2549 -25.6% -8.58% -4.68% -22.67% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8107 -20.97% -7.35% -3.34% -18.99% United Fund, Inc. -a 2.965 -21.23% -5.87% -2.79% -18.84% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 94.7687 -20.7% -6.72% -2.56% -18.97% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9368 -2.82% -1.69% -2.23% -8.91% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3284 3.9% 4.6% n.a.

-3.65% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5552 -10.83% -4.66% -3.68% -0.49% ATRAM Philippine Balanced Fund, Inc. -a 2.0889 -10.32% -4.2% -1.78% -4.23% First Metro Save and Learn Balanced Fund Inc. -a 2.4461 -8.26% -2.37% -2.87% -7.05% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1904 n.a. n.a. n.a.

-16.67% NCM Mutual Fund of the Phils., Inc. -a 1.8539 -4.51% -1.12% -0.28% -5.56% PAMI Horizon Fund, Inc. -a 3.507 -6.45% -2.27% -1.47% -7.45% Philam Fund, Inc. -a 15.6432 -7.31% -2.53% -1.63% -7.77% Solidaritas Fund, Inc. -a 1.9484 -9.83% -3.36% -8.35% -1.24% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3313 -14.53% -4.32% -2.51% -13.78% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9481 -6.87% n.a. n.a.

-6.66% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8627 -15.14% n.a. n.a. -13.42% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8422 -16.93% n.a. n.a.

-15.2% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8188 -18.2% -5.4% -3.81% -16% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03827 3.46% 2.17% 1.55% 0.1% PAMI Asia Balanced Fund, Inc. -b $0.9606 -0.67% -0.46% -0.61% -7.45% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.7656 1.57% 3.19% 2.95% -3.71% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.0958 0.29% 1.51% n.a.

-2.92% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 364.98 4.37% 3.06% 2.54% 2.01% ATRAM Corporate Bond Fund, Inc. -a 1.9384 2.54% 0.94% 0.01% 1.91% Cocolife Fixed Income Fund, Inc. -a 3.1846 4.61% 5.13% 5.09% 2.19% Ekklesia Mutual Fund Inc. -a 2.2822 4.9% 2.69% 2.29% 2.57% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4345 5.88% 3.17% 1.86% 3.2% 4.14% Philam Bond Fund, Inc. -a 4.5538 9.94% 3.74% 2.42% Philam Managed Income Fund, Inc. -a,6 1.2891 6.48% 3.9% 2.12% 2.58% Philequity Peso Bond Fund, Inc. -a

3.9255 7.13% 3.99% 2.34% 3.62% Soldivo Bond Fund, Inc. -a 1.0231 9.36% 3.28% 1.75% 6.1% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1591 7.42% 4.63% 3% 2.7% Sun Life Prosperity GS Fund, Inc. -a

1.7342 6.08% 3.95% 2.49% 1.95% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $472.65 3.35% 2.37% 2.71% 0.95% ALFM Euro Bond Fund, Inc. -a Є215.15 -0.73% 0.52% 0.94% -2.08% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2132 2.94% 2.65% 2.46% 0.5% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 1.57% 1.32% 1.2% 0.39% PAMI Global Bond Fund, Inc -b $1.0652 -1.62% -0.48% 0.08% -2.74% Philam Dollar Bond Fund, Inc. -a

$2.4276 4.48% 2.83% 3.07% 0.99% Philequity Dollar Income Fund Inc. -a $0.0604834 2.58% 1.91% 1.89% 0.28% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1625 3.34% 1.69% 2.47% -0.4% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 127.98 3.85% 3.17% 2.4% 1.75% First Metro Save and Learn Money Market Fund, Inc. -a 1.0404 2.62% n.a. n.a.

1.37% Sun Life Prosperity Money Market Fund, Inc. -a 1.2821 3.22% 3.03% 2.57% 1.38% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0443 1.67% n.a. n.a.

0.68% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.93 n.a. n.a. n.a.

-6.06%

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

PSE STOCK QUOTATIONS

June 17, 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 PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH

46.6 100.1 72.9 20.1 7.4 38.8 9.29 17.56 21.4 47.1 94.05 18.1 103.2 55 0.72 17 0.52 0.93 0.3 650 0.57 167

47.15 101.2 73 20.3 7.42 39 9.3 18.38 21.55 48.7 110 18.2 103.5 55.3 0.77 17.1 0.58 0.99 0.31 698 0.58 170

47 103.4 72.6 20.3 7.38 39.5 9.35 17.4 21.3 47.25 95.85 18.6 104.5 55.1 0.68 17.1 0.485 0.93 0.31 650 0.59 166

47.15 103.4 73.1 20.3 7.52 40 9.35 18.36 22 47.25 95.85 18.6 105.8 55.9 0.77 17.1 0.485 0.93 0.31 650 0.59 168

46.65 100.1 72.4 19.84 7.38 38.8 9.3 17.4 21.3 47.1 95.85 18.2 102.8 55 0.68 17 0.485 0.93 0.3 650 0.56 166

46.65 100.1 73 20 7.4 38.8 9.3 18.36 21.4 47.1 95.85 18.2 103.2 55 0.77 17 0.485 0.93 0.3 650 0.58 168

80000 2752260 1815190 144900 465500 3225700 60000 1000 297000 600 130 14900 1269170 17000 33000 3800 1000 1000 280000 10 575000 530

3740930 279665200 132173835.5 2891226 3457746 126927225 558125 17884 6412660 28275 12460.5 275700 131627630 935200 23650 64960 485 930 84700 6500 331240 88820

3599495 -35192563 -11283820 1311728 -207622 -28094730 -558125 -1457100 -2671162 217747 -84760 -

INDUSTRIAL AC ENERGY 2.3 2.31 2.38 2.4 2.29 2.3 9199000 21550680 ALSONS CONS 0.88 0.91 0.93 0.93 0.87 0.91 1185000 1043330 27.5 27.9 28.1 28.1 27.5 27.5 814500 22523180 ABOITIZ POWER 0.16 0.164 0.16 0.165 0.159 0.164 3680000 589690 BASIC ENERGY FIRST GEN 20.7 20.75 21 21 20.55 20.75 1693100 35137375 FIRST PHIL HLDG 58.65 59 57.9 58.75 57.8 58.65 82340 4811285 278.2 280 283 285 277.4 278.2 602480 168309558 MERALCO 12.6 12.66 12.7 12.78 12.56 12.6 1996600 25289038 MANILA WATER PETRON 3.11 3.14 3.19 3.19 3.1 3.11 2331000 7303010 PETROENERGY 2.67 2.93 2.99 2.99 2.66 2.93 362000 984120 11 11.18 10.9 11.18 10.9 11.18 115400 1287568 PHX PETROLEUM 18.8 18.92 19.2 19.6 18.8 18.8 580900 11008358 PILIPINAS SHELL SPC POWER 8.01 8.1 8.12 8.2 7.99 8.1 141200 1133304 AGRINURTURE 7.13 7.25 7.2 7.27 7.1 7.27 86800 623019 2.67 2.68 2.68 2.68 2.63 2.67 922000 2442660 AXELUM 75.05 80.75 75.65 75.65 75.6 75.6 380 28740.5 BOGO MEDELLIN CNTRL AZUCARERA 12.2 13.5 13 13.58 13 13.5 500 6724 CENTURY FOOD 14.94 15 15 15.18 14.88 15 2106000 31587166 4.25 4.43 4.22 4.25 4.22 4.25 3000 12690 DEL MONTE DNL INDUS 5.35 5.36 5.32 5.4 5.28 5.35 3422900 18261455 EMPERADOR 8.09 8.12 8 8.17 7.9 8.12 60166000 484931788 SMC FOODANDBEV 68.8 69 69.95 69.95 68.5 68.8 83200 5726238 0.57 0.58 0.55 0.58 0.54 0.57 2605000 1486730 ALLIANCE SELECT FRUITAS HLDG 1.3 1.31 1.3 1.32 1.28 1.3 7135000 9255180 GINEBRA 34.85 35 34.9 35 34.8 35 82700 2880170 JOLLIBEE 145 145.1 142.7 145.4 142.7 145 2770450 400,972,5481 28.15 40 40 40 40 40 100 4000 LIBERTY FLOUR MACAY HLDG 6.4 6.78 6.38 6.8 6.38 6.79 20100 129158 MAXS GROUP 5.88 6 5.93 6.1 5.9 5.9 1084800 6500000 PEPSI COLA 1.7 1.75 1.68 1.75 1.65 1.7 743000 1252810 6.25 6.3 6.39 6.4 6.23 6.25 687800 4313107 SHAKEYS PIZZA 1.86 1.87 1.9 1.92 1.87 1.87 4204000 7959100 ROXAS AND CO RFM CORP 4.3 4.5 4.5 4.5 4.5 4.5 2000 9000 ROXAS HLDG 1.62 1.65 1.64 1.64 1.62 1.62 10000 16300 0.106 0.109 0.112 0.112 0.109 0.109 20000 2210 SWIFT FOODS 130 131 133.4 133.5 130 130 3880660 512063236 UNIV ROBINA VITARICH 0.79 0.8 0.82 0.82 0.78 0.8 14532000 11585160 VICTORIAS 2.31 2.45 2.4 2.45 2.4 2.45 12000 28950 51.75 59.8 59 59.8 59 59.8 710 41922 CONCRETE A CONCRETE B 56.35 64.4 64.5 64.5 64.4 64.4 450 28988 CEMEX HLDG 1.1 1.11 1.12 1.13 1.1 1.11 11211000 12495400 DAVINCI CAPITAL 4 4.75 4.78 4.78 4.5 4.5 8000 37660 10.8 10.88 10.88 11 10.58 10.88 225500 2446060 EAGLE CEMENT EEI CORP 5.18 5.21 5.34 5.35 5.18 5.18 707900 3729140 HOLCIM 7.36 7.4 7.59 7.59 7.35 7.36 1635500 12182700 7.25 7.26 7.48 7.51 7.2 7.26 3324100 24467419 MEGAWIDE 8.33 8.98 8.98 8.98 8.33 8.98 1200 10711 PHINMA TKC METALS 0.74 0.78 0.73 0.75 0.73 0.75 365000 268170 VULCAN INDL 0.76 0.79 0.8 0.84 0.75 0.79 3310000 2639850 1.92 1.97 1.9 1.98 1.9 1.92 1386000 2698140 CROWN ASIA 2.28 2.31 2.32 2.38 2.26 2.28 752000 1738680 EUROMED MABUHAY VINYL 3.61 3.66 3.63 3.66 3.61 3.66 23000 83850 PRYCE CORP 4.16 4.33 4.2 4.2 4.15 4.15 5952000 24701450 21.5 22 22.05 22.05 21.5 21.5 3600 78630 CONCEPCION 1.61 1.62 1.66 1.66 1.61 1.62 1596000 2600220 GREENERGY INTEGRATED MICR 5.89 5.9 5.68 5.98 5.68 5.9 425100 2488906 IONICS 1.13 1.15 1.15 1.17 1.13 1.15 786000 907410 4.01 5.94 4.01 4.01 4.01 4.01 4000 16040 PANASONIC SFA SEMICON 1.39 1.4 1.47 1.49 1.39 1.39 4733000 6787620 CIRTEK HLDG 8.2 8.23 8.24 8.5 8.13 8.2 3644200 30142010

1180000 -15205435 -24861920 -4564408 -102927904 9177458 -3713160 -105092 -8150262 -3635 -29150 -4017364 799585 -483552741 -3911563.5 79800 2060150 29212451.9996 -941413 -332500 -677043 -10100 -1120 -278510317 844940 28950 -4624510 -154234 -239534 8812 -2785153 -6640 2179080 69600 -24693050 -46250 58360 340381 70600 67087

HOLDING & FRIMS ABACORE CAPITAL 0.5 0.51 0.51 0.51 0.495 0.5 3282000 1642175 ASIABEST GROUP 9.02 9.12 9.5 9.5 9.02 9.02 54400 493898 790.5 791 790 798 781 790.5 525740 416454250 AYALA CORP 47 47.05 47.4 47.4 46.85 47.05 1702200 80071075 ABOITIZ EQUITY ALLIANCE GLOBAL 7.18 7.2 7.35 7.35 7.02 7.2 57629700 415990143 AYALA LAND LOG 1.75 1.76 1.74 1.79 1.74 1.75 1117000 1971840 6.2 6.23 6.2 6.23 6.2 6.23 3300 20535 ANSCOR ANGLO PHIL HLDG 0.5 0.52 0.51 0.51 0.5 0.5 137000 69500 ATN HLDG A 0.58 0.59 0.59 0.59 0.55 0.58 2897000 1640040 ATN HLDG B 0.55 0.6 0.58 0.61 0.58 0.6 586000 340000 5.4 5.46 5.52 5.52 5.4 5.4 3175700 17331618 COSCO CAPITAL 4.31 4.34 4.34 4.39 4.3 4.31 18319000 79065160 DMCI HLDG FILINVEST DEV 8.35 8.4 8.51 8.7 8.07 8.4 8190500 66161782 GT CAPITAL 476 480 501 504.5 471 476 334840 162725464 3.21 3.36 3.44 3.44 3.36 3.36 11000 37480 HOUSE OF INV JG SUMMIT 61 61.9 63.4 63.4 61 61 1993610 123015971.5 JOLLIVILLE HLDG 4.86 5.64 5.6 5.64 5.6 5.64 7300 41084 LODESTAR 0.63 0.65 0.6 0.72 0.57 0.65 34557000 21761520 2.62 2.63 2.65 2.65 2.62 2.63 78000 204810 LOPEZ HLDG 8.86 8.9 8.95 8.99 8.71 8.9 2947200 26240020 LT GROUP MABUHAY HLDG 0.465 0.51 0.455 0.52 0.455 0.52 41000 19820 METRO PAC INV 3.49 3.5 3.48 3.51 3.45 3.49 59958000 209063670 0.78 0.81 0.8 0.81 0.78 0.78 253000 197990 PRIME MEDIA SOLID GROUP 0.96 0.98 0.95 0.96 0.95 0.96 22000 21070 SYNERGY GRID 167 169 169.9 169.9 167 167 240 40407 SM INVESTMENTS 938 956 961 969 926 956 176070 167860895 103.2 105 105 105 102.2 105 204290 21179063 SAN MIGUEL CORP 0.65 0.66 0.64 0.66 0.64 0.66 96000 61920 SOC RESOURCES WELLEX INDUS 0.185 0.195 0.185 0.185 0.185 0.185 20000 3700 ZEUS HLDG 0.145 0.15 0.149 0.152 0.145 0.15 2550000 378870

-340750 -40911100 -32697330 -32913641 -66880 292380 -688417 -39702330 -70388 -13102420 -36396403.5 -56600 -63000 -10202010 35833010 -65377790 -5580632 -

PROPERTY ARTHALAND CORP 0.55 0.56 0.55 0.56 0.54 0.55 3256000 1789910 ANCHOR LAND 8.54 8.88 8.52 8.9 8.52 8.9 800 6892 35.75 35.8 36 36.2 35.8 35.8 5795700 208028965 AYALA LAND 1.01 1.06 1.06 1.06 1.02 1.05 57000 58970 ARANETA PROP BELLE CORP 1.41 1.42 1.41 1.45 1.41 1.42 169000 241570 A BROWN 0.57 0.59 0.59 0.59 0.56 0.59 1410000 797140 0.72 0.75 0.74 0.74 0.72 0.72 257000 190140 CITYLAND DEVT 0.127 0.128 0.129 0.129 0.121 0.127 1540000 194210 CROWN EQUITIES CEB LANDMASTERS 3.82 3.95 3.95 3.96 3.81 3.95 736000 2871060 CENTURY PROP 0.39 0.4 0.41 0.41 0.39 0.4 6390000 2511650 18.42 18.48 19.16 19.6 18.4 18.48 1389800 26172850 DOUBLEDRAGON 6.5 6.55 6.5 6.51 6.46 6.5 56800 369030 DM WENCESLAO EMPIRE EAST 0.27 0.28 0.265 0.275 0.26 0.275 1650000 440900 EVER GOTESCO 0.11 0.111 0.096 0.11 0.094 0.11 7820000 800220 1 1.01 1.02 1.02 1 1.01 20770000 21016040 FILINVEST LAND 0.9 0.91 0.79 0.9 0.79 0.9 2566000 2139490 GLOBAL ESTATE 8990 HLDG 10 10.1 10.1 10.1 10.1 10.1 126000 1272600 PHIL INFRADEV 0.85 0.86 0.87 0.88 0.85 0.85 978000 844200 3.3 3.79 3.18 3.18 3.18 3.18 3000 9540 KEPPEL PROP CITY AND LAND 0.69 0.72 0.69 0.7 0.69 0.7 26000 18040 MEGAWORLD 3.34 3.36 3.31 3.37 3.26 3.36 40984000 136961860 MRC ALLIED 0.153 0.154 0.147 0.154 0.146 0.154 10930000 1644310 0.3 0.315 0.31 0.31 0.3 0.3 610000 183900 PHIL ESTATES PRIMEX CORP 1.41 1.43 1.41 1.44 1.4 1.43 110000 154760 ROBINSONS LAND 18.02 18.14 18.28 18.38 17.5 18.14 2158300 38799608 PHIL REALTY 0.236 0.246 0.247 0.249 0.236 0.246 50000 12260 1.55 1.6 1.55 1.55 1.55 1.55 1000 1550 ROCKWELL SHANG PROP 2.69 2.72 2.75 2.75 2.69 2.72 1403000 3803250 STA LUCIA LAND 1.82 1.92 1.88 1.92 1.88 1.92 5000 9470 SM PRIME HLDG 31 31.05 31.45 31.65 30.7 31 14713800 457539175 3.7 3.8 3.7 3.8 3.68 3.8 70000 264830 VISTAMALLS SUNTRUST HOME 1.24 1.25 1.27 1.28 1.24 1.24 1767000 2221160 VISTA LAND 3.98 3.99 4.06 4.07 3.96 3.98 1273000 5,106,380(

-52310230 -2840 -112460 190140 -76200 -1197300 39500 -569185.9997 1920 -4236000 -1076660 4300 -8332790 44700 -6450508 2240800 154567410 1,236,909.9997)

SERVICES ABS CBN 15.32 15.34 15.42 15.58 15.3 15.32 446200 6904704 GMA NETWORK 5.2 5.21 5.14 5.25 5.13 5.2 1081700 5597709 0.37 0.38 0.375 0.375 0.37 0.37 1220000 453100 MANILA BULLETIN MLA BRDCASTING 13.34 14.88 14 14.98 13.04 14.88 7200 99210 GLOBE TELECOM 2160 2186 2170 2204 2160 2186 53130 116150190 -17553820 PLDT 1220 1225 1227 1246 1220 1220 106620 131227610 -27909160 0.053 0.055 0.054 0.055 0.052 0.055 22570000 1211260 APOLLO GLOBAL DFNN INC 2.91 3.02 2.89 2.89 2.89 2.89 2000 5780 DITO CME HLDG 3.13 3.14 2.76 3.17 2.75 3.14 120417000 360545380 32130030 IMPERIAL 1.21 1.42 1.21 1.21 1.21 1.21 15000 18150 0.077 0.08 0.08 0.08 0.077 0.077 520000 40850 10780 ISLAND INFO 2.15 2.16 2.09 2.23 2.03 2.15 8684000 18589560 -218000 NOW CORP TRANSPACIFIC BR 0.191 0.194 0.182 0.191 0.18 0.191 6190000 1147680 -55500 PHILWEB 2.36 2.38 2.43 2.44 2.36 2.36 1233000 2970330 -96400 10.26 10.3 10.48 10.7 10.28 10.3 291100 3031588 -208000 2GO GROUP 4.05 4.06 3.68 4.08 3.64 4.05 3362000 13089580 -24320 CHELSEA CEBU AIR 44.4 44.45 46.5 46.95 43.55 44.45 1083700 48454945 -23557170 INTL CONTAINER 103 103.1 104.7 107 102 103.1 2082190 215726383 -77046171 13.54 14.2 14 14.3 13.34 14.2 16600 231500 LBC EXPRESS LORENZO SHIPPNG 0.75 0.84 0.76 0.76 0.76 0.76 11000 8360 MACROASIA 6.71 6.72 6.6 6.72 6.48 6.71 9123300 60317839 868278 METROALLIANCE A 2.41 2.46 2.56 2.66 2.4 2.41 3230000 8113540 2.26 2.47 2.47 2.47 2.47 2.47 3000 7410 METROALLIANCE B PAL HLDG 6.7 6.8 6.95 7 6.6 6.8 51400 350815 68000 HARBOR STAR 0.85 0.86 0.84 0.88 0.84 0.86 259000 222570 ACESITE HOTEL 1.15 1.23 1.15 1.15 1.15 1.15 6000 6900 0.026 0.027 0.027 0.027 0.026 0.027 14700000 383100 BOULEVARD HLDG GRAND PLAZA 12.02 13.78 13.8 13.8 13.8 13.8 500 6900 WATERFRONT 0.39 0.4 0.39 0.395 0.39 0.39 230000 89750 CENTRO ESCOLAR 6.3 6.44 6.47 6.47 6.3 6.3 4000 25262 22680 8.2 8.85 8.89 8.89 8.85 8.85 2000 17776 IPEOPLE STI HLDG 0.3 0.31 0.305 0.31 0.3 0.31 2410000 737400 -116250 BERJAYA 2.11 2.19 2.11 2.2 2.11 2.19 34000 73330 BLOOMBERRY 7.25 7.5 7.7 7.7 7.2 7.5 3757700 28031762 -10603242 2.11 2.17 2.19 2.29 2.1 2.17 520000 1152400 -37009.9999 PACIFIC ONLINE 1.55 1.6 1.58 1.58 1.53 1.55 228000 351800 LEISURE AND RES PH RESORTS GRP 2.61 2.78 2.61 2.87 2.51 2.78 278000 754360 PREMIUM LEISURE 0.335 0.34 0.34 0.345 0.335 0.34 8050000 2712250 -1329950 7.3 7.31 7.51 7.62 7.3 7.3 2983600 22089771 423261 ALLHOME 1.66 1.67 1.6 1.68 1.59 1.66 9686000 15912550 1775790 METRO RETAIL PUREGOLD 45.3 45.4 44.6 46 44.6 45.4 2898200 131486110 54593150 ROBINSONS RTL 66.85 67 66.6 67.6 66.6 67 502340 33,632,795.5( 29,513,662.9996) 133.8 134 130 134 130 134 1620 212388 128396 PHIL SEVEN CORP SSI GROUP 1.17 1.18 1.22 1.24 1.15 1.17 6901000 8148840 -979700 WILCON DEPOT 15.9 15.92 16 16 15.88 15.9 3516900 55941980 -3826170 0.32 0.34 0.32 0.34 0.32 0.34 140000 46000 APC GROUP EASYCALL 8.05 8.08 7.08 8.3 7.05 8.08 387000 3061628 PRMIERE HORIZON 0.209 0.21 0.21 0.218 0.207 0.21 10210000 2144860 64880 SBS PHIL CORP 5.01 5.2 5.1 5.1 5.1 5.1 1700 8670

MINING & OIL ATOK 9.82 10.12 10.12 10.16 10.12 10.16 1100 11136 1.02 1.04 1.06 1.06 1 1.04 2875000 2932390 -168910 APEX MINING 0.0009 0.001 0.001 0.001 0.0009 0.001 56000000 55700 ABRA MINING ATLAS MINING 1.9 2 2 2 1.89 1.9 229000 436640 BENGUET A 1.17 1.2 1.2 1.21 1.2 1.2 80000 96380 1.14 1.39 1.14 1.14 1.14 1.14 50000 57000 56999.9999 BENGUET B 0.184 0.189 0.184 0.189 0.184 0.189 140000 26210 COAL ASIA HLDG CENTURY PEAK 2.67 2.71 2.7 2.71 2.7 2.71 212000 573600 -325200 DIZON MINES 7.6 7.8 7.69 7.97 7.56 7.8 1297700 9998754 0.9 0.91 0.93 0.96 0.91 0.91 5353000 4974850 -940 FERRONICKEL 0.221 0.229 0.221 0.23 0.221 0.229 4030000 907490 -17680 GEOGRACE LEPANTO A 0.081 0.082 0.079 0.087 0.079 0.082 15000000 1231820 LEPANTO B 0.084 0.085 0.084 0.086 0.082 0.085 440000 37090 0.0062 0.0065 0.0062 0.0062 0.0062 0.0062 5000000 31000 MANILA MINING A MARCVENTURES 0.58 0.59 0.57 0.61 0.57 0.59 1036000 615590 NIHAO 1.3 1.31 1.2 1.43 1.19 1.3 29292000 37296860 -333200 NICKEL ASIA 1.9 1.91 2 2.02 1.9 1.9 16077000 31313050 -165100.0003 0.35 0.4 0.35 0.35 0.35 0.35 10000 3500 OMICO CORP ORNTL PENINSULA 0.495 0.52 0.495 0.52 0.495 0.52 48000 24075 PX MINING 2.38 2.4 2.43 2.43 2.4 2.4 182000 439510 35800 SEMIRARA MINING 13 13.04 13.28 13.36 13 13.04 4537900 59210124 -521964 0.0039 0.004 0.004 0.004 0.004 0.004 4000000 16000 UNITED PARAGON ACE ENEXOR 6.46 6.66 6.64 6.69 6.4 6.44 72800 479248 ORNTL PETROL A 0.0083 0.0085 0.0084 0.0084 0.0083 0.0083 43000000 357700 ORNTL PETROL B 0.0085 0.0095 0.0095 0.0095 0.0085 0.0085 22000000 198000 0.0076 0.0079 0.0079 0.0079 0.0076 0.0076 117000000 891600 PHILODRILL PXP ENERGY 4.91 4.99 5.03 5.15 4.85 4.99 2116000 10591630 -2332680

PREFFERED HOUSE PREF A 98 99 99 99 99 99 10030 992970 502 518.5 510 510 502 502 11000 5550380 AC PREF B1 AC PREF B2R 502.5 504 502.5 502.5 502.5 502.5 1020 512550 CPG PREF A 100 100.3 100 100 100 100 1000 100000 DD PREF 101.2 101.5 101.5 101.5 101 101.5 1430 145115 -1015 105.1 110 105.1 105.1 105.1 105.1 10550 1108805 FGEN PREF G FPH PREF C 490 500 495 495 495 495 500 247500 GLO PREF P 510 520 518 518 510 510 200 102080 GTCAP PREF A 1000 1010 1000 1000 1000 1000 520 520000 99.7 100.4 100.5 100.5 99.7 99.7 265960 26520172.5 MWIDE PREF PNX PREF 3B 101.1 106 103.5 103.5 101.1 101.1 1500 154712 PNX PREF 4 998 1000 1010 1010 1000 1000 565 565100 PCOR PREF 3A 1045 1050 1050 1050 1050 1050 1135 1191750 1065 1073 1065 1070 1065 1070 125 133625 PCOR PREF 3B SFI PREF 1.55 1.69 1.5 1.55 1.5 1.55 6000 9250 SMC PREF 2C 77.5 78.4 77.5 78 77.5 78 4350 339075 SMC PREF 2D 75 76 75 75 75 75 18700 1402500 375000 77 78 77 77 77 77 150 11550 SMC PREF 2F SMC PREF 2G 75 76 75.5 75.5 75 75.5 75000 5630365 SMC PREF 2H 75.8 76 76 76 75.8 75.8 23600 1791600

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 14.72 14.8 14.72 14.72 14.7 14.72 508400 7481648 -1493280 4.91 4.95 4.95 4.97 4.91 4.91 790000 3886790 -811970 GMA HLDG PDR

WARRANTS LR WARRANT 0.75 0.77 0.75 0.75 0.7 0.75 87000 63610

SMALL & MEDIUM ENTERPRISES ITALPINAS 1.87 1.88 1.92 1.92 1.86 1.88 3310000 6235520 221830 6.32 6.5 6.26 6.55 6.26 6.5 101000 644855 KEPWEALTH MERRYMART 3.37 - 3.37 3.37 3.2 3.37 95564000 321719620 9313280 XURPAS 0.58 0.59 0.58 0.6 0.58 0.58 599000 354290

EXHANGE TRADE FUNDS

FIRST METRO ETF 95.5 96 96 96.8 95.5 95.5 8190 788747 -51960

Editor: Eleanor Leyco-Chua

Health&Fitness BusinessMirror

Thursday, June 18, 2020 B3

When fats get into your liver

m

By Claudeth Mocon-Ciriaco

n Swollen belly; n Enlarged blood vessels underneath your skin; n Larger-than-normal breasts in men; n Red palms; and n Skin and eyes that appear yellowish, due to a condition called jaundice.

ore people have fatty liver than diabetes and arthritis combined. It is considered a common disease because 1 out of 4 people have it.

SKYPIXEL | DREAMSTIME.COM

Liver disease

According to an article published in the WebMD.com, it said that most times, this liver disease is mild, but it can lead to more serious health problems. Yet you can often control or reverse fatty liver with smart changes to your lifestyle. Too much fat build up in your liver, that’s fatty liver disease.

The webmd.com added that there are two basic types of fatty liver disease: nonalcoholic fatty liver disease (NAFLD) and alcoholic fatty liver disease, also called alcoholic steatohepatitis. Sometimes, the extra fat can trigger changes that stop your liver from working well. Since your liver filters toxins out of your blood, that could make you very sick.

Complications of fatty liver disease The main complication for all these

conditions is cirrhosis or scarring of the liver. As your liver tries to stop the inflammation that comes with these conditions, it creates areas of scars.

As inflammation spreads, so do the scars, and eventually, your liver can’t do its job. That can result in: n Fluid buildup in your abdomen; n Swollen veins in your esophagus that can burst and bleed; n Confusion and drowsiness; n Liver cancer; and n Liver failure.

Symptoms of fatty liver disease With ALD and NAFLD, there are usually no symptoms. Some people may have signs such as tiredness or pain in the upper right side of the belly where your liver is.

If you have NASH or get cirrhosis, you may have symptoms such as:

Acco rd in g to the lates t World Health Organization (WHO) data published in 2017 liver disease deaths in the Philippines reached 8,401 or 1.36 percent of total deaths. The age-adjusted Death Rate is 11.32 per 100,000 of population ranks Philippines #119 in the world.

WHO said the Philippines is still hyperendemic for hepatitis B with an estimated prevalence rate of 16 percent which translates to 16 million Filipinos who are currently chronic carriers of hepatitis B and a great majority of these patients belong to the marginalized groups of the community.

Fifteen to 25 percent of patients with chronic hepatitis B infection may develop complications i.e. liver cirrhosis and hepatocellular carcinoma.

Hepatitis B is considered to be the most common cause of liver-related deaths in the Philippines.

In 2005, the Philippine Cancer Facts and Estimates reported that 7,477 Filipinos would die of liver cancer second to lung cancer (26.7 percent) with an estimated annual death of 15,881 calculated at 12.3 percent.

To eliminate this deadly disease, Gundo Weiler of the WHO, said that the Philippines must invest in hepatitis testing and treatment services.

“Aside from a program like this being the right thing to do for people’s health, it is also a very wise investment, as it saves money by avoiding much more costly care for liver cancer and cirrhosis, “ Weiler said.

The National Kidney and Transplant Institute (NKTI) Liver Center has taken upon itself the responsibility to do surveillance and monitoring of patients with chronic viral hepatitis and liver cirrhosis and to offer various treatment modalities and preventive

measures for these patients.

Liver transplantation is a potentially life-saving procedure for patients with decompensated liver cirrhosis and advanced hepatocellular carcinoma.

Few tertiary centers in the country are equipped and can perform liver transplantation. This, coupled with the problem of the prohibitive cost of the procedure in these centers, necessitates the urgent need to revive and strengthen the liver transplant program of the institute to answer the growing demand for the procedure at a more reasonable and affordable cost.

In the past two to three years, the NKTI has performed more than a hundred liver and biliary surgeries, including a handful of liver transplantations.

Moreover, the success rate of our liver-related surgeries particularly hepatic resections is high; couple this with the very good three and fiveyear survival rates we have achieved.

“Our facilities, on the other hand, are comparable to most, if not all, of the private tertiary centers. And we will strive to keep up with the development of new machines and technology that relates to the above surgical procedures,” the NKTI said.

The NKTI Liver Center is committed to do research and contribute to the institute’s mission and vision on research and training. It is likewise dedicated to increasing public awareness on the clinical manifestations, diagnosis, and prevention of various liver diseases through regular conduct of lay fora and creation of pamphlets on common liver diseases like chronic hepatitis B and fatty liver disease.

Avoid fatty liver disease To avoid fatty liver disease, experts stressed the need to exercise regularly, eat a nutritious diet, with goodfor-you fats and lots of veggies, fruits, and whole grains. Limit your alcohol, work with your doctor to manage your health, and follow directions for any medication you take.

These strategies also help you avoid other problems, like obesity, diabetes and heart disease.

D.O.H. beefs up campaign to help smokers quit now

C

ommitted to fortify the government’s efforts to establish a smoke-free new normal and discourage the youth from taking up the habit of smoking, Health Secretary Francisco T. Duque III urged every individual to join the campaign to prevent the youth from starting the habit of smoking and support current tobacco users to ​“Quit Now.” The Department of Health (DOH) together with the World Health Organization (WHO), civil society organizations, developmental partners, and advocates, observed the annual ​World No Tobacco Day on May 31 and the National No Smoking Month throughout the month of June.

This year’s local theme​, “Protektahan ang Kabataang Pilipino sa Impluwensya ng Industriya ng Tobako,” aims to respond to the systematic, aggressive and sustained tactics of the tobacco industry to attract a new generation

of tobacco users—the youth.

Various activities such as Webinars and competitions on Instagram and TikTok will be rolled out to educate the youth on the marketing tactics and the detrimental effects and risks of conventional cigarettes, electronic nicotine, and non-nicotine delivery systems, heated tobacco products and other novel tobacco products. Globally, tobacco kills more than 8 million people each year from direct use and exposure to secondhand smoke. Locally, there are 16.6 million Filipino adult tobacco users.

Among Filipino students aged 13 to 15 years old, tobacco use increased from 13.7 percent in 2011 to 16 percent in 2015 based on the Global Youth Tobacco Survey. Moreover, 42.7 percent of Filipino students have already heard of electronic cigarettes (e-cigs) and 11.7 percent of them already tried or experimented

with the device. “ This has now become our biggest problem as electronic cigarettes have been linked to conventional cigarette use,” Duque explained, adding the longitudinal study published by Dr. Bold, et.al from Yale University found that high-school students who reported using ecigarettes were seven times more likely to report subsequent conventional cigarette use.

For the past decade, the Philippines has made great strides in implementing policy reforms that aim to reduce the burden of tobacco use. Aside from tax measures, the government successfully pushed for the legislation of several nontax policies and population-level interventions to address the threat of tobacco usage.

This includes Executive Order 106 (Series of 2020) which complements RA 11467 (alcohol and e-cig taxes) by expanding the coverage of

the public smoking ban in public places to include e-cigarettes.

The passage of Republic Act 11467 last January 2020 increased taxes on heated tobacco and vapor products, set the minimum allowable age for sale and distribution of these products to 21 years old, limited the flavors of the juice/ solution to plain tobacco and plain menthol, and strengthened the role of the FDA in regulating these products.

With these, local chief executives are called on to pass stringent ordinances consistent with tobacco control laws and policies. This resonates louder as the world battles Covid-19—a novel disease known primarily to attack the lungs. It is now imperative that effective tobacco control legislations are instituted in the local government to protect the health of Filipinos.

Claudeth Mocon-Ciriaco

SM Foundation donates test kits to hospitals, LGUs

T

o help facilitate the screening and identification of Covid-19 cases in the country, the SM Foundation Inc. (SMFI) donated several RT-PCR and rapid Covid-19 test kits good for more than 22,000 tests and worth over P26 million to hospitals and local government units (LGUs).

This social good initiative of the SMFI aims to boost the country’s fight against the coronavirus outbreak by testing more people and screening them for early diagnosis, quarantine and management. The RT-PCR test kits use swabs from patients taken from the nose or throat while a rapid test requires the patient’s blood sample.

Among the beneficiaries were the Research Institute for Tropical Medicine (RITM) in Muntinlupa; The Medical City in Pasig City; Mary Johnston Hospital in Tondo, Manila; and the local government units of Antipolo, Mandaluyong, Las Piñas, and Parañaque.

Meanwhile, Uniqlo Philippines also partnered

anew with the SMFI to deliver its PCR test kits donations good for 4,000 tests and worth more than P5 million to the University of the PhilippinesNational Institutes of Health (UP-NIH). More so, Uniqlo Philippines and the SMFI have sustained collaboration efforts for the distribution of Kalinga packs to several grassroots communities and Dry T-shirts as PPE undershirts for frontliners nationwide.

Through joint efforts, SM has donated over P400 million of essential medical supplies and equipment and reached out to marginalized sectors most affected economically.

This comprises over P300 million of essential medical supplies and equipment, as well as PPEs and PCR tests to 120 hospitals nationwide.

SM also donated P100 million through the Project Ugnayan of the private sector and Caritas of the Catholic Church to urban poor families impacted by the lockdown.

Kidney experts: CKD patients should not be left behind

K

idney specialists from the Philippine College of Physicians (PCP) underscore that patients with chronic kidney disease (CKD), especially those undergoing dialysis treatment, should not be neglected in the time of Covid-19.

Considered as part of the vulnerable sector, patients who have CKD need support in maintaining their health amid the community quarantine.

Dr. Russell Villanueva, a Fellow of the PCP and the Philippine Society of Nephrology (PSN)and training officer at the Department of Nephrology of the National Kidney and Transplant Institute (NKTI), said the pandemic has brought plight to dialysis patients and their family members.

“This became a problem for many countries because there were dialysis centers which stopped operations due to limited staff and fear in getting infected by Covid-19,” he explained. “The patients are the ones who suffer.”

Aside from this, patients and their family members are having a hard time going to and from their dialysis centers due to lack of public transportation.

While some local government units (LGUs) offer aid for transportation, some are left with limited options such as walking for hours or biking under the scorching heat, which makes patients weary even before they start their sessions.

Villanueva stressed the importance of continuous dialysis treatment amid the health crisis and take necessary precautions as recommended by their health-care team.

He encouraged dialysis centers to maintain their operations as their way of showing support for patients. If not, they need to refer their patients to other centers so they will not have to miss their sessions.

It is also vital for health-care providers to give guidelines to patients and their caregivers in times when they have no option but to skip sessions.

“We should also give them guidelines.

There are patients who undergo treatment thrice a week but due to limited staff, some only have to go twice a week. We need to

give them guidelines to limit water intake and food consumption to manage their blood pressure.”

Now more than ever, people with kidney disease and other severe chronic medical conditions such as diabetes and hypertension are at higher risk for more severe illness such as Covid-19.

It is imperative to protect their immune system in this crisis while providing preventive measures against Covid-19.

According to the Philippine Renal Disease Registry, there is an increase in cases of people undergoing dialysis from 2014 to 2016. In 2006, there are over 7, 000 patients undergoing dialysis. The number then ballooned to more than 36,000 patients in 2016.

“There is an increase in the number of dialysis patients in just a span of 10 years and we are expecting that this would increase by an average of 10 to 15 percent per year,” Villanueva said.

National Kidney Month

Meanwhile, Dr. Gingerlita Samonte, a Fellow of the PCP and a Board of Trustee of the PSN, encourages patients and their family members to participate in this year’s National Kidney Month celebration on June 28.

“Even amid pandemic, we should always promote good health for everyone, especially the prevention of kidney disease,” Samonte said, adding that dealing with kidney diseases is not a one-man battle but a family affair.

With the theme “Malusog na Bato sa Panahon ng Pandemya,” the celebration will be held online and shall gather participants from different PSN chapters. Online activities include mass, lay lectures and Q&A portion, raffle draws, and photo and video contests.

The National Kidney Month celebration will be viewed thru PSN’s Facebook page on June 28.

To view the PCP and PSN Health Forum Video, please see this link: https:// bit.ly/2TGR6Kt. For more information, visit https://www.pcp.org.ph/

Global Forum on Nicotine 2020

T

he organizers of the Global Forum on Nicotine (GFN), KAC Communications, recently pushed through with the forum via online following the cancellation of the face-to-face event in Warsaw due to Covid-19.

In the wake of the so-called EVALI crisis, and with the review to the European Tobacco Products Directive (TPD 2) and the ninth session of the (now postponed) World Health Organization’s Conference of the Parties (COP) to the Framework Convention on Tobacco Control on the horizon, 2020 was already set to be a key year for tobacco harm reduction and nicotine science.

Yet as the Covid-19 pandemic grips the world, debates over the impact of smoking and vaping on susceptibility to and severity of the disease, alongside research into nicotine’s potentially protective role, have only heightened focus on this field. Attacks on tobacco harm reduction are intensifying and, now more than ever, a policy must be informed by well-formed evidence and led by science.

In light of all this, KAC Communications launched the online GFN20 on June 11 and 12 when presentations from 30 top expert speakers premiered online on the theme Nicotine: Science, Ethics and Human Rights, before being made available for viewing at any time. Advances in nicotine science, the ethical arguments in favor of tobacco harm reduction, and the human-rights issues for all those who advocate for the right to health will be explored. Anyone can take part in GFN20, for free, from anywhere in the world.

Paddy Costall, co-director of the conference, said: “Since we started in 2014, GFN has always welcomed participants

from a hugely diverse range of groups, professions, and disciplines, something of which KAC Communications is rightly proud. Simply put, we believe in freedom of expression, freedom of association, and freedom of speech.

“In the last year, the intensity of attacks on pro-tobacco harm reduction researchers, academics and professionals across the world have increased significantly, with organizations discredited and ad hominem attacks launched on individuals for their beliefs or connections.

“As always, and perhaps even more so in this critical year, GFN is open to everyone with an interest in nicotine science and policy. It is open to everyone who wants to reduce the toll of tobacco-related death and disease worldwide. And it is open to everyone who recognizes that global tobacco control will fail without the strategic addition of tobacco harm reduction, in the form of widespread access to safer nicotine products.”

The forum highlighted the following:

n Latest science on nicotine, smoking, vaping and Covid-19 from Konstantinos Farsolinos and Riccardo Polosa; n Perspectives on ethics and harm reduction from Clive Bates, Marewa Glover, Ethan Nadelmann, Fiona Patten, David Sweanor and Alex Wodak; n The Michael Russell Oration from Louise Ross; n Plus consumer viewpoints, what’s forthcoming in regulation, ensuring marginalized communities access tobacco harm reduction and much more.

B4

Thursday, June 18, 2020

Show BusinessMirror

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Queen Latifah: Let ‘Gone with the Wind’ be gone forever

By Gary Gerard Hamilton The Associated Press

What are your thoughts on the protests following George Floyd’s death?

This is like nothing I’ve ever seen in my life. And it’s also the fact that it’s happening worldwide. It’s time, you know? It’s time. What an opportunity we have right now. I can only liken it to what it was like for me as a kid, as a teenager—young 20s, early 1990s when there was apartheid in South Africa, and we weren’t with that. And rappers, we stood up and used our voices, and everybody used their voices.

We’re seeing corporate America and brands embracing Black Lives Matter. Do you think it’s just popular to do so now or is it a sincere effort to bring change?

I think it’s a mixture...we’re seeing things that have been coming for a long time, and this is the powder keg. This is the perfect storm, if you will, for

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Blake Shelton, 44; Carol Kane, 68; Isabella Rossellini, 68; Paul McCartney, 78.

Happy Birthday: Look for positive reinforcement, and an unusual opportunity will come your way this year that will help you set off in an unexpected direction. The time spent researching, learning and putting together a plan will be well worth the effort. Don’t waste time and energy on regrets. Focus on being successful and implementing the positive changes you desire. Your lucky numbers are 6, 14, 22, 25, 34, 36, 44.

N

EW YORK—While some have criticized HBO Max’s removal of Gone With the Wind from its streaming service —including those who wonder if it hurts the legacy of Hattie McDaniel, the first African American woman to win an Academy Award—Oscar nominee Queen Latifah says good riddance.

“Let Gone with the Wind be gone with the wind,” said the Emmy, Golden Globe and Grammy winner in an interview last week.

Latifah, who portrays McDaniel in Ryan Murphy’s Netflix Hollywood series, says the story behind McDaniel’s Oscar win is not as shiny as the golden trophy.

“They didn’t even let her in the theater until right before she got that award. Someone came outside and brought her into the auditorium. She wasn’t even allowed to sit in there. And then she had to read a speech that was written by a studio. You know that’s not what the hell she wanted to say,” she said.

“Then after that, all she could do was play the same kinds of roles.... So the opportunities at that time and the way that those in power in that business were relegating us and marginalizing us and not allowing us to grow and thrive after that was just terrible. And a lot of that is still around today.”

Latifah spoke to The Associated Press while promoting her Queen Collective initiative, which seeks to highlight up-and-coming female filmmakers of color. She discussed George Floyd’s death, her feelings about her lyrics being chanted by protesters and more.

Answers have been edited for brevity and clarity.

Today’s Horoscope

a

ARIES (March 21-April 19): Temptation will lead to a path that has greater versatility and less chance of layoffs and setbacks. Picking up information, degrees, licenses and skills that offer greater opportunity to work from home are favored.

Personal gain looks promising. HHH

b

TAURUS (April 20-May 20): Look for an opportunity, and you won’t be disappointed.

Consider what you can accomplish that will set you on a path that offers greater prosperity and authority. What you offer now will reap the rewards later.

Honor your promises. HHH

c

GEMINI (May 21-June 20): Don’t give up prematurely. Discipline and the power of persuasion will help you get what you want. Gather information, and prepare for anything challenging that comes your way. A personal change will be enlightening. HHH

d

CANCER (June 21-July 22): Do your best to make a difference for those less fortunate.

Consider making a kind gesture, posting something thoughtful on social media or reaching out to someone you live with. An innovative suggestion will boost your reputation. HHHH

e

LEO (July 23-Aug. 22): Put more effort into making personal adjustments that will improve your life. Don’t be fooled by products that promise the impossible. If you want to look your best, put in the work it takes to update your look. HH

the opportunity for change to come. So we shouldn’t stop—we shouldn’t take our foot off the gas. I read something Viola Davis posted, and...it ended with ‘Don’t take your foot off the gas,’ and that has sat in my mind and that has been my slogan in my brain every day.

Protesters at a march were singing your song “U.N.I.T.Y.” That song is a stance. I wish it didn’t stand—I wish it would have played out. But to have to say “Love a black man from infinity to infinity,” “love a black woman from infinity to infinity,” but ultimately: U.N.I.T.Y. We do it together. You know, let’s all get it together. But I had to say things like that. We still have to say that. I have so many records that I wish were not useful anymore. You know records fought for women’s equality, fought for all of us to have an equal seat at the table. I wish we didn’t have to talk about this stuff, but it’s still happening.

I am both ripped apart on the inside and at the same time inspired, and I have renewed vigor every day because we have a lot to do. It’s an election year.

I’m inspired by the youth being out there.

Billy Porter posted an Instagram video stating the black community needs to do a better job embracing the LGBTQ community in the midst of this “Black Lives Matter” movement. What are your thoughts?

I 100 percent agree. You know, we don’t have the luxury of separating ourselves from one another right now. The whole purpose is inclusivity.... You should be respected for who you are, no matter who you are...that includes the LGBTQ community, especially our trans sisters and brothers that are being murdered in these streets for no reason, other than that they are or who they are, and someone decides that “I don’t like who you are” or “I want to attack you.” It just can’t fly. n

‘On Vodka, Beers and Regrets’ to stream on Netflix beginning July 5 AFTER announcing a robust film slate for Independence Day in June, Netflix has announced that it will stream On Vodka, Beers and Regrets starting July 5 in the Philippines. Netflix is continuing to build a home for Pinoy stories with this popular title from Viva Communications, joining other recently announced titles: Pinoy Sunday, Sunod, Lola Igna, Untrue and Ordinary People.

On Vodka, Beers, and Regrets stars Bela Padilla, JC Santos, Matteo Guidicelli and Kean Cipriano. It is written and directed by Irene Villamor. The film follows a washed-up actress and former child star Jane Pineda, who battles with love, chances and alcoholism as her career plummets to rock bottom.

“We at Viva are very proud of On Vodka, Beers and Regrets. The film tackles a sensitive topic with a clever

and different blend of humor, romance and drama.

It is part of Viva’s thrust for genre expansion, and Netflix is the perfect partner being the pioneer in disrupting viewer habits and revolutionizing the art of storytelling,” said Vincent del Rosario, president and COO of Viva Communications Inc. The aforementioned films follow the success of other Pinoy titles on Netflix, including Eerie, The Girl Allergic to Wi-Fi and Miss Granny, which were among the top 10 most popular titles in the Philippines in 2019, as well as the December 2019 release of Filipino Netflix Film Dead Kids by award-winning director Mikhail Red. Now at only P149/month, the new Netflix Mobile plan lets you enjoy all our movies and shows on your smartphone or tablet.

More information is available at www.netflix.com.

f

VIRGO (Aug. 23-Sept. 22): Check out all your options, and make preparations to ensure that when the time is right, you’ll be ready to apply or take control of a position that makes you happy. Finding diverse ways to use your skills will pay off. HHHHH

g

LIBRA (Sept. 23-Oct. 22): Pitch in and do your part. Taking care of responsibilities and the ones you love may be laborious, but in the end, you’ll be thankful you did, and those you live with will be grateful. Be the one to save the day. HHH

h

SCORPIO (Oct. 23-Nov. 21): You’ll have an insightful moment that will help you get through difficult times. A unique approach when dealing with the people you spend the most time with will promote greater respect and love. Children and elders will offer truth and wisdom. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Keep an open mind, but don’t let anyone trick you into something that isn’t good for you. Take a moment to observe others, and you’ll soon realize who is on your side. Personal improvement is favored. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Make adjustments at home that will encourage you and your loved ones to spend more time together.

Improving your space to fit the needs of everyone you live with will help bring you closer together. An open discussion will pay off. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Don’t lose sight of your goals. It may be difficult to follow through with your plans, but the preparation you do now will help you move forward quickly when the time is right. Physical improvements will boost your ego.

HHHHH

l

PISCES (Feb. 19-March 20): Taking a different approach to the way you spend your time and how you earn your income will open doors you never knew existed. Pour your heart and soul into something you enjoy doing. HHHH Birthday Baby: You are original, helpful and outgoing.

You are convincing and intelligent.

‘repairs needed’ by anne grae martin The Universal Crossword/Edited by David Steinberg

ACROSS 1 Soaks in one’s glory 6 Romeo or Juliet 10 Starter dishes, slangily 14 Second part of a play 15 Throat-clearing sound 16 Siren song?

17 “Have we met?” (unscramble letters 4 to 8) 19 Skin concern 20 ___ Cruise (Katie Holmes’ daughter) 21 Formerly known as 22 Posed a question 23 Network addresses 24 Broadway’s Harry Potter and the ___ (...2 to 8) 27 Squat targets, informally 29 (Original writer’s mistake) 30 Dove or baby noise 31 Kathmandu Valley’s country 32 Japanese paste 34 Actor Simon 35 1980s kids? (...1 to 6) 38 Cobra pose surfaces 41 Trebek on TV

2 Kind of black tea 4 46 Verbal eye roll 47 Bikini top 48 Thick soup 49 Flips out (...5 to 10) 53 10th anniversary metal 54 Summer pests 55 2018 Spotify event: Abbr.

56 Afflicts 57 Miller ___ 58 Not working, or a hint to the starred answers’ indicated letters 61 Poet Pound 62 Opposite of “sans” 63 ___-feuille (French pastry) 64 Imogen Heap’s Hide and ___ 65 Impetuous 66 “Later, gator!”

DOWN 1 Unwelcome omen 2 Two 3 Causes, as drama 4 Apt name for a locksmith?

5 Sloth or wrath 6 Less well-done

7 “For sure!”

8 Lion in the sky 9 Bird incubated by its father 10 Inundated 11 Mass in an Antarctic sea 12 Fragrant fire feeder 13 Siberian husky, perhaps 18 Burden 22 59-Down’s athletic group 24 Disney collectibles 25 County next to Suffolk 26 Pop icon Celine 28 They’re opened in browsers 32 Disney heroine played by Liu Yifei 33 Suffix for hydrox 34 Covert attention-getter 36 Hawaiian diet staple 37 New Mexico pueblo site 38 Nonmagical folks in Harry Potter books 39 Fret endlessly 40 Drama venue, in London 43 Twiddled one’s thumbs 44 Nimbly 45 Latin for “guilty mind”

47 Dangerous pellets 48 Univ. educator 50 Word after “skirt” or “hanger” 51 Toys requiring wind 52 Long time 56 ___ Luyendyk Jr. (2018 Bachelor) 58 Rowboat tool 59 Charlottesville sch.

60 Chants on 38-Across Solution to yesterday’s puzzle:

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Parentlife BusinessMirror

Thursday, June 18, 2020

B5

FROM left: My dad and I with my dear godfather, the late Jone Wong; Papa with our family at Alexander’s Steak House in San Francisco last summer; my husband equipping my kids with Marin and Orbea bikes complete with helmet when they were learning to bike; and my husband’s latest gift to them was installing this Spalding NBA Basketball ring from Pro Line Sports.

A Father’s Day tribute: How dads equip their kids (Part I) my family have equipped us....

I

T was 2010 when I wanted to push for “Dad Empowerment” in my work. I remember how my husband was too afraid to carry our newborn because she was so tiny. He only got confident to carry her more when she was a little over a year old. I wanted to find tools to equip fathers more. At the time, we found a carrier brand, Ergobaby, which allowed “heart-to-heart” embrace while the baby was being carried. We introduced the concept of how dads, after a whole week of work, can actually spend quality heart-to-heart time with their baby, and mothers can relax a bit while the family strolls through the mall.

Today, 10 years after, I am very happy to see how dad involvement in childcare has vastly evolved. I see how more dads proudly carry their babies in the mall. I see how dads accompany their kids to school or enrichment classes, or even tutor their kids. I see how single fathers assume their emotional parental roles by actively seeking time with their kids. I value this development because I genuinely benefited from my dad’s parenting. Now that my kids are 14 and 10, I also see many traces of proof on how my husband’s guidance has led my kids to be the strong individuals they are today. So, for this Father’s Day, allow me to write a tribute on how grateful I am on how dads in

FROM MY OWN DAD ■ WOMEN EMPOWERMENT. This came in both material and emotional support. When I was into basketball in high school, my dad actually made it possible to clear out the garden at the back of our house and build a concrete half court for me. When he knew I started to collect 1:18 model cars, he actually gifted me with an XJ220 1:12 Maisto Grey Collector car.

I learned how to drive at 14. I got my license at 18. He trained me to use hand-me-down cars first. He did not mind that I was called “Schumacher” by my college friends because I drove fast. He knew that driving skills would equip me in being more independent. My dad even taught me how to hold my liquor. Ever since I was a child, my dad has always equipped me with the strong belief that being a girl should never limit me to accomplish what any boy could do.

■ DISCIPLINE AND HARD WORK. My dad walks the talk in hard work and discipline. He still lists down all his expenses for the day. I remember since we were kids, he would bring home all the daily vouchers from the office and meticulously check them at night. He is also disciplined in his heritage. He never fails to visit the ancestral temple every Chinese New Year, or continue the legacy of my grandfather through family associations. He is adamant about things he knows will equip us for our future, like how he trained us to speak fluent Fukien and Mandarin. At work, I admire my dad’s convictions and how he employs his longterm and unpopular approach. He always took the harder role of pointing out system improvements.

■ THE MEANING OF FRIENDSHIP. With friendships, he would always tell me to be a good “rainy day” friend, that even if you don’t see your friends during the good times, it’s most important for me to be there for them in their time of need. I am lucky that one of my godfather is a friend my dad had known for over 50

years. I want to take this chance to say thank you to Ninong Jone Wong, who recently passed away. Thank you for always treating me with my favorite food, like Ruth Chris, whenever I visit Hong Kong. Most of all, thank you for being a dear friend to my dad.

FROM MY FATHER-IN-LAW ■ HIS EXAMPLE OF HARD WORK. Papa, as we usually call him, has worked since he lost his parents at 17.

Up to now, he never stops and even has new projects.

His practical and resourceful ways never fail to impress us.

■ THE LESSON OF GENEROSITY. Papa has devoted his life for his family since they lost their parents early.

He has helped not only many a family member but his generosity is also reflected on how he cares for his employees. With my kids, he is the first to reward them when they get academic awards in school.

■ GOOD CONVERSATIONS. We are lucky to have long and meaningful conversations with my father-in-law whether it be about business, family or core values.

That’s why I love spending the New Year in Bicol because of the time we get to converse with Papa.

FROM MY HUSBAND ■ THE LOVE AND DEDICATION FOR SPORTS. My husband has been an athlete all his life. My kids would always get inspired from how he would practice basketball for hours a day during his grade school and high school life; and from all his stories in honing his skills in tennis, swimming, badminton and, now, triathlon. I thank him for my kids’ love for sports today. From giving them pointers when they were starting to swim and bike; to supporting them in their basketball; and, and of course, for cheering them on in their fencing competitions here and abroad. They know that, win or lose, he is there to hug, push and be their No. 1 supporter.

To be continued....

For Father’s Day EVEN though celebrations like Father’s Day this 2020 may not look like past years, honoring and pampering Dad should not take a backseat. Explore Rustan’s Father’s Day edit for fathers and father figures alike, and get him a gift he will never forget.

■ PRECIOUS KEEPSAKES. A selection of fine items ideal for your main man, Rustan’s houses some of the finest labels from the world, including Montblanc, whose range goes from classics such as the Meisterstück and Starwalker, to special Writers Edition Rudyard Kipling ballpoint pen and Le Petite Prince fountain pen. Consider as well John Hardy’s collection of bracelets, cuffs, necklaces and rings to give Dad some style flourish.

■ RELIABLE ARSENALS. For dads who love to cook and whip out drink concoctions, choose a quality and hardworking companion from the plethora of brands available in Rustan’s Home such as Barcraft, Barprofessional, Boska, Christofle, Final Touch, Kitchen Craft, Luigi Bormioli Sambonet and Vin Bouquet. How about redecorating Dad’s man cave or home office with elegant and functional pieces from Ralph Lauren Sutton line for fine leather tray and cufflink box, Mele Macon mahogany watch box, Galassi wall clock, Esteban scented candles and decorative diffuser, and exceptional porcelain figurines by Lladró.

■ EVERYDAY CLASSICS. If your dad likes to keep it simple and classy, Hackett, Pedro del Hierro and Tie Bar are go-to brands for essential apparel that can be donned from day to night. The collections are always timeless and can match varying tastes and style choices. For added zhoosh, there is the Damiani jewelry collection to pick from.

Meanwhile, probably one of the most sought-after tools during the quarantine, it’s time to gift your dad with an at-home hair trimmer from Philips. There are plenty more options at various price points to go through at www.rustans. com, where special discount offers also await.

Rustan’s Makati, Shangri-La, Cebu and Gateway are now open daily at abbreviated schedules under the prevailing pandemic conditions.

BARCRAFT Cut Glass Decanter Set

LEXON Oslo Energy Flip Mino+-Mina

➜ PHILIPS MG5720 15 Multigroom

➜

FINAL Touch Conundrum Glass Aerator for Decanters

CALL & COLLECT FOR FURRY LOVED ONES OUR pets have become part of our families—as a constant companion, playmate for the kids, and, in not a few cases, a stress buster. That’s why many of us want to keep our pets healthy and happy.

Pet Express, the dog and cat shop for all your furbaby essentials, shares some practical tips from World Small Animal Veterinary Association (WSAVA) on caring for your pets while at home: ■ Practice proper handwashing and pet safety when handling your pets. Wash your hands before and after touching them. Clean and sanitize your pets’ contact surfaces such as crate, dog beds, kennels and feeding areas regularly. Use a pet-friendly and all-natural disinfectant in cleaning, disinfecting and deodorizing your homes as it thoroughly removes stains and stinky odor.

■ Make an indoor or backyard potty. Stock up pee pads in the house if you and your pet can’t go outdoors.

■ Keep them entertained and active while at home, like award-winning actor Anthony Hopkins who serenades his cat Niblo with the piano. You can also bond with them by teaching them some tricks or finding an indoor game or activity to play.

■ Maintain a reasonable supply of pet food and required medication. Ensure their nutritional needs by providing the necessary veterinary diet and keep them hydrated by providing clean water to boost their immune system.

■ Contact your veterinarian for your pet’s routine treatment, and have their vaccinations updated.

■ If you are sick, avoid close contact with your pet if you can. Ask a family member to take care of them and put them in a crate to protect them. If no one is available, maintain good hygiene practices and wear a face mask while taking care of your pet.

Also, those who registered for the annual Pet Express Doggie Run 2020 can join the first Pet Express Virtual Run, wherein pet parents and their dogs can join in the run from home. Suit up you and your dog in Doggie Run 2020 race gear and race bib; track and finish your runs anytime until you complete your distance on or before June 30; screencap your race results and send it to PetExDoggieRun2020@gmail. com. You can claim your finisher medal at your chosen Pet Express branch. Proceeds of the Pet Express Virtual Run will be donated to the Philippine Animal Welfare Society.

Pet Express’s Call & Collect services are available in selected branches. Pet parents can select items in the Pet Express online catalog on their Facebook and Instagram stories; create a shopping list and call your preferred branch to place order and collect your order via Grab Express. You can also shop at the Pet Express Flasghip Store on Lazada.

B6 Thursday, June 18, 2020

Mobile Legends: Bang Bang Developer donates more than P1M to children affected by Covid-19

TOYOTA SHARES MEALS WITH DOTR FRONTLINERS. Toyota Motor Philippines Foundation (TMPF) provided 900 meal packs to frontliners of the Department of Transportation (DOTr). The meal packs were distributed among drivers, security and support personnel as part of Toyota’s support to DOTr’s Free Ride Service program in Metro Manila which provides transport services for the country’s medical frontliners.

Earlier, Toyota Motor Philippines Corp. (TMP), in partnership with Toyota Mobility Foundation, made available ten shuttles to the Philippine General Hospital (PGH), which uses the ‘Just-in-Time’ booking app to set the pick-up time and at locations close to home for workers for enhanced security. This was done in response to DOTR’s request to make mobility more accessible especially to health workers. This is on top of the forty-nine TMP vehicle lend-outs in select hospitals, LGUs and other volunteer groups in Metro Manila and Laguna. As the nation continues to face the challenges of the pandemic, Toyota will remain to be one with the government’s efforts and be of service to more Filipinos.

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OONTON, the company behind the most popular MOBA game Mobile Legends: Bang Bang’s (MLBB), raised more than Php.1M during 515’s month-long celebration. The funds raised from winnings, auctions, and games were donated to Save The Children Philippines.

“We would like to thank Moonton, Rumble Royale, and every MLBB gamer as well as their supporters who helped raise funds during the Crazy Legends Charity Homestand,” says Ms. Riel Andaluz Sr., Manager of Corp. Partnerships of Save The Children.

“It was overwhelming to see gamers give their best to play but this time for the cause of battling COVID 19.

This unprecedented emergency really

impacted the lives of everyone, and they need our help. We are happy that Moonton considered to direct its support to help children and families through Save the Children Philippines,” she adds.

Moonton’s donation will definitely help Save the Children’s COVID 19 response in helping the children in these trying times.

Mr. William Mei, Marketing Manager of MLBB for the Philippines says it is their duty to the community to help the needy most especially the kids.

“We want to be able to do our part in helping those who need us most during this difficult time. We are very proud of the overwhelming response from our gaming community in coming together to support this cause,” he shares.

Meanwhile, winners and participants of the 515 events received and collected in-game prizes and a free hero apart from portraying a significant part in raising funds for the kids.

Physical rewards amounting to 10 Nintendo Switches, Airpods, and 20 Beats Solo were also given away plus a total of PHP 300,000 prize pool was awarded to winners of the first-ever online intercity match called Community Hero: City Rival.

Mobile Legends: Bang Bang’s 515 celebration totaled $1,447,393,655 in global event rewards and prizes with 48,253,100 participants all over the world.

For more on the Mobile Legend: Bang Bang, follow its Facebook page https://www.facebook.com/ MobileLegendsOnlinePH/

Marriott Launches Save Now Stay Later

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ARRIOTT Bonvoy encourages travelers to step out, bask under the sun, and rediscover the beauty of local travel with new staycation packages ranging from romantic getaways to fun family staycations.

Brighter days are ahead - Marriott Bonvoy properties in the Philippines are offering 40% off on suites and 30% off on guest rooms on their Experiences Packages with free one time rebooking to welcome back travelers.

Plan your next getaway in Manila, Clark Pampanga or Iloilo City with Save Now - Stay Later. Choose your destination and check out the stunning hotels across Marriott Bonvoy Philippines from Manila Marriott Hotel, Sheraton Manila, Courtyard by Marriott Iloilo, Clark Marriott Hotel and Sheraton Manila Bay. Book your preferred staycation package for now or a later date, and get a special rate valid for a limited time only.

Family Fun. Reacquaint yourself with a relaxing staycation. Find home not-sofar from home with a family staycation inclusive of a delightful breakfast at Manila Marriott’s spacious Deluxe Room that can accommodate two adults and a maximum of four kids under 12 years old. Make the most of ultimate luxury in a Loft Room at Sheraton Manila Hotel for two adults and maximum of four kids, and a breakfast at S Kitchen or In-

room Dining. Make memorable family experiences at Sheraton Manila Bay with a stay at their Deluxe Room for two adults and two kids with breakfast at the Pacific Lounge, and a 10% discount on food and beverage. Go to special places with your smallest circles and as you head North, book a stay at Clark Marriott and enjoy an accommodation at their Deluxe Room with breakfast buffet at Goji Kitchen + Bar for two adults and two kids, a BBQ platter at the Pool Bar, along with an indulgent dinner, and complimentary access to Kid’s Club. Unwind somewhere beyond your living room and travel to the South, Courtyard Iloilo is offering a staycation at a Deluxe Room with breakfast at Runway Kitchen and In-room Dining for two adults and four kids.

Eat & Repeat. Savor time with those who matter and enjoy a staycation for two. Manila Marriott offers a Deluxe Room inclusive of Php 4,000 worth of dining credits at Marriott Café and Inroom Dining or at a Premium Room with a dinner at Cru Steakhouse. Rediscover the city, with a relaxing escape at Sheraton Manila’s Deluxe Room accommodation inclusive of Php 3,000 worth of dining credits at S Kitchen, Oori, The Lounge, and In-room Dining.

Romance Package. Find a room for serenity and book a romantic getaway for two, Sheraton Manila Bay offers an accommodation package in a Deluxe Room with breakfast at the Pacific

Lounge and complimentary pre-dinner cocktails. Get away from your own four walls and have a relaxing stay at Clark Marriott’s Deluxe Room with breakfast buffet at Goji Kitchen + Bar, a Php 4,000 worth of dining credits with In-room Dining option, a bottle of wine and cheese platter, and bouquet of flowers to complete your staycation.

Your welcome awaits and as you get ready to travel again, All Marriott Bonvoy hotels in the country are preparing to open their doors with a strong commitment to cleanliness through elevated standards and rigorous protocols to create hospitality norms and behaviors that will address the unique challenges presented by the current situation. From cleaning transmission barriers, enhancing sanitation, promoting health screening, and nourishing the ‘new normal,’ Marriott Bonvoy invites you to travel again.

Save now and stay later. This limited offer is valid for stays until May 31, 2021. Dates of stay should be prebooked. Booking period is from June 12 to 28, 2020 only. Rebooking is allowed once and is subject to price change depending on published rates less the discount. For booking, reservation, and more information on latest offers of Manila Marriott, Sheraton Manila, Sheraton Manila Bay, Clark Marriott, and Courtyard Iloilo, visit https://hoteldeals.marriott.com/limited-time-offerphilippines

Japanese entity adopted BAR’s Edible Landscaping program

Dr. Fernando C. Sanchez (left) of UPLB shows to BAR Director Nicomedes P. Eleazar (right) the components of the demo garden launched during BAR’s 24th anniversary

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JAPANESE humanitarian agency has adopted Bureau of Agricultural Research’s (BAR) edible landscaping (EL) program that encourages home-based organic vegetable planting to help reduce imports, enhance the environment, and raise food security.

The EL, a partnership between BAR and University of the Philippines Los Banos (UPLB), has generated adopters including the Organization for Industrial, Spiritual, and Cultural Advancement (OISCA) of Japan. Its aesthetic value and food security aims are hoped to have a significant impact locally. “Edible landscaping may not be totally for commercial profitability. But it will raise consumption of vegetables and enhance food security. And we have an organic growing system that’s good for health and environment,” according to UPLB EL Project Leader Farnando C. Sanchez Jr. BAR had budgeted P1 million for the first phase of the technology promotion of EL which initially had its site at the UPLB CA-Agripark. “Instead of planting just ornamental plants, we want to encourage more households to plant vegetables in their front and back yards so we may provide for our homes’ basic needs, and we may be able to reduce our imports of vegetables,” said BAR Director Nicomedes P. Eleazar. A United Nations data quoted by the Factfish indicated that as of 2012 the Philippines had vegetable imports of $3.013 million (P142 million). This project can have extensive livelihood opportunity wherever people want to keep healthy and eat fresh, organic vegetables. “It offers an opportunity for about 34.2 percent of the total household population or 5.2 million families of the country that live below the poverty threshold especially for families in the cities that cannot afford the high cost of basic needs as food,” according to a BAR-UPLB report.

OISCA, a Tokyo-based organization established by Rev. Yonosuke Nakano, has already been engaged in vegetable planting even before it took up EL. Its EL farm is in Tiaong, Quezon. OISCA had a value addition in its vegetable farming from BAR-UPLB’s EL as the beautification function of its farm enhances attraction of young farmers into agriculture. EL also enhances the environment as the greeneries avert emission of more carbon dioxide that contributes to global warming and climate change. When it was founded in the Philippines in 1961, OISCA’s aim was to bring Japanese agriculturists to the Philippines to train Filipinos on agriculture. OISCA as of 1983 had sent 336 Japanese agricultural experts

to the Philippines and 245 Filipinos to Japan.

The EL’s two phases were implemented from November 2009 to September 2012.

The EL project is not only about how to grow organic vegetables but on planning, design, and implementation of a landscape architecture program. “Edible plants can provide the texture, color, and mass that we like to see in our garden as some of them are fine, dainty and lay, bright and attractive, tall growing or in prostate forms,” according to the TP-CEL report. EL farms may have different shapes for the plots rather than just rectangular. These may be shaped as a circle, moon-shaped, square, or heart-shaped.

“A trellis does not need to be flat on top. Rather it can be in arch form or tunnel form to inject some novelty and excitement.” An EL farm does not have to be very big. At the UPLB CA AGripark, the technology demonstration area was 2,900 square meters. At BAR’s building, the area only covered 10 by four meters or a total of 40 square meters. A staff has to be hired to maintain the gardens at the CA AGripark.

They have been trained to implement in the EL farms calendared planting, soil amendment, composting, companion cropping or best crop combinations, seedling production, chemicalfree or organic vegetable production, and horticultural practices.

EL program also includes that for home, commercial, and humanitarian purposes.

It can be in homes, parks, schools, business and government offices, and industrial sites. Instead of chemical fertilizers, organic fertilizers are recommended in EL sites. To repel some types of insects, marigold, onion, and garlic are planted around the garden such as on walkways or around perimeter walls.

Some insects are also repelled with the use of chili and soap sprayed on plants. Bagging of fruits using paper, plastic, and other innovative materials is encouraged to prevent infestation.

Pruning or thinning out of flowers, fruits, and leaves not only enhances plant shape but also its fruiting productivity. Ratooning, retaining the plant from new emerging roots, is also practiced as it saves replanting and fast growth compared to growing plants from new seeds. Kangkong is one of those that are being rationed. Commercial farms aim to harvest massive plants at the same time in order to achieve economies of scale. However, EL is ideal for staggered harvesting which is ideal for small consumption in families.

For queries, contact Dr. Fernando Sanchez (UPLB), 0917-500-4035, Ms. Mara Valdeabella (BAR), 928-8505.

Envoys&Expats BusinessMirror

www.businessmirror.com.ph

Canada boosts pandemic assistance to PHL, Asean

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HE government of Canada is providing more than CAD$1.1 million (approximately P44.5 million) as additional assistance to the Philippines to help counteract the outbreak of the coronavirus disease 2019 (Covid-19).

According to its embassy in Manila, two initiatives are being launched to provide support to the Philippines. The North American country will turnover 120,000 N95 face masks valued at CAD$782,000 (or about P29.5 million) as part of Canada’s CAD$4.5 million in-kind contribution to six Asean memberstates.

EU ensures justice served thru technology

CHARGÉ d’Affaires a.i. Thomas Wiersing (right) presents multimedia tools and PPEs to BJMP’s Jail Director Allan S. Iral.

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HE European Union (EU) Delegation to the Philippines, through its Governance in Justice Programme (GOJUST), has allocated P10 million to support local justice sector agencies in responding to the challenges posed by the health crisis.

Chargé d’Affaires a.i. Thomas Wiersing confirmed that part of this package is the P3 million worth of 120 multimedia tablets and supplies of personal protective equipment (PPE) which were turned over to the Bureau of Jail Management and Penology (BJMP).

The GOJUST Programme provided the gadgets and equipment to support the BJMP’s efforts in addressing the coronavirus disease 2019 situation in detention facilities. It also complements other assistance provided by the EU, such as the P50 million for relief distributions to vulnerable communities, a top-up of P17 million for the EUfunded program on Enhanced Biosecurity in South East Asia to better address pandemics, and the P1.1 billion provided to strengthen the World Health Organization’s coronavirus disease 2019 (Covid-19) response in eight Asean member-countries.

During the turnover ceremony at the BJMP, Wiersing said that “the provision of tablets and PPE reaffirms the EU’s commitment to enable the justice sector to address the needs of court and penitentiary systems during this pandemic.”

The PPEs and disinfectants intended to protect persons deprived of liberty (PDLs) and jail personnel from Covid-19 exposure will be distributed to various detention centers identified as having a high population and congestion rate.

Justice zone areas in Quezon City, Davao City, Cebu City, Angeles City, Bacolod City and Naga City are among those with the highest numbers.

The penology bureau has also rolled out the e-Dalaw program to enable PDLs to communicate with their families and lawyers through online video calls amid quarantine measures in the country. GOJUST provided the said tablets to support e-Dalaw and to pilot-test the hearing of cases involving PDLs via videoconferencing in select areas.

The BJMP has reported some 716 Covid-19 cases among PDLs in five regions, with 167 recoveries.

It is li kew ise add ing CAD$400,000 (some P15.2 million) to the existing CAD$17.8 million Sexual Health and Empowerment (SHE) Philippines project with charitable institution Oxfam to ensure the unhampered provision of sexual and reproductive health services during the pandemic.

This investment complements

ongoing response activities, including the establishment of an emergency hotline for health services and gender-based violence, procurement of personal protective equipment (PPE) for barangay health workers, as well as distribution of family planning information materials.

The additional funding will support core activities of the SHE project, which aims to improve the quality, availability, and uptake of health services of more than 85,000 women of reproductive ages, as well as adolescent girls and boys in conflict-affected and disadvantaged

regions in the Philippines.

Canada continues to contribute to international efforts by providing urgent and necessary funding to support the most vulnerable. This reflects a commitment to deliver a feminist international assistance policy, particularly in advancing the sexual and reproductive health and rights of women and girls.

It is also supporting other Asean countries, including the Philippines, by providing PPE and capacitybuilding for the Philippines-led Asean BioDiaspora Virtual Center within the Asean Emergency Operations Center Network. The Philippines is also one of the beneficiary-countries identified to receive Covid-19 diagnostic equipment, testing kits, reagents and laboratory consumables as part of a CAD$5 million global project funded via the International Atomic Energy Agency.

Australia expands army medical center’s anti-Covid capabilities

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PNP lauds Israel’s ‘bayanihan’ act with 2nd PPE donation

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MBASSADOR of the State of Israel to the Philippines Rafael Harpaz recently delivered a second batch of personal protective equipment (PPE) to the Philippine National Police (PNP) in a ceremonial turnover inside Camp Rafael T. Crame in Quezon City on June 10 to help local police frontliners combat the coronavirus disease 2019 (Covid-19).

The PPE donation includes surgical masks, N95 filtered face masks, gowns, shields, gloves and noncontact thermometers.

Harpaz praised the outstanding efforts of the PNP in fighting the pandemic: “I see them every day standing along the roads of Manila to ensure everyone’s safety, [making] sure that social distancing is observed.”

National Police chief General Archie Francisco Gamboa complimented the ambassador by saying: “We would like to thank the State of Israel for their generosity and making today’s turnover... possible. Supplementing the vi-

AMBASSADOR Rafael Harpaz (left) and Philippine National Police Chief Archie Gamboa

tal needs of the organization as we fight the unseen enemy, this turnover will be of great help to our police frontliners. All these donated PPE will certainly go a long way [to enhance] our capability in protecting our police force while battling Covid-19.”

As Gamboa acknowledged Israel’s donation as a gesture of generosity depicting the act of bayanihan, Harpaz noted that his country will explore ways on further assisting the Philippines.

Taiwan’s torrent of donations surges on

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HE Commonwealth of Australia is supporting the Armed Forces of the Philippines (AFP) defense personnel’s response versus the coronavirus disease 2019 (Covid-19) with a donation of hospital and personal protective equipment valued at AU$1 million (P35 million) to support a 30-bed expansion of the Victoriano Luna Medical Center infectious disease ward, effectively increasing the capacity of the Philippine Army in dealing with the pandemic.

“I am pleased to join Defense Secretary Delfin N. Lorenzana to formally handover this assistance,” Ambassador of Australia Steven J. Robinson AO declared. “What better way to invoke the spirit of mateship and bayanihan between our countries than by supporting the health and welfare of AFP members who are carrying out such a challenging role for the people of

AMBASSADOR Steven J. Robinson AO (foreground, left) and Secretary Delfin N. Lorenzana

the Philippines.”

Australia and the Philippines have a strong record of defense cooperation. The former’s Defense Minister Linda Reynolds said in a statement that the two countries

have a “long-term commitment to work together as friends and comprehensive partners in addressing challenges posed by Covid-19, [as well as] advancing regional security and stability.”

Once discovered, Indian PM pledges vaccines for PHL

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ONTINUING an ongoing engagement with world leaders, the embassy of the Republic of India said Prime Minister Narendra Modi engaged President Duterte in a phone conversation on June 9 and discussed steps to be taken by the two Asian leaders in addressing the challenges of the current pandemic.

Both expressed mutual appreciation for the cooperation extended to ensure the welfare of their citizens in each other’s territories and for their repatriation amid the ongoing health crisis. Duterte also acknowledged the steps India took to maintain the supply of essential pharmaceutical products to the Philippines.

For his part, the prime minister assured the chief executive of India’s commitment to support the Philippines in its fight against the coronavirus disease 2019 (Covid-19), and pledged that his country’s well-established capacity for manufacturing affordable pharmaceutical products—including for a vaccine, once it is

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HE Taipei Economic and Cultural Office in the Philippines (Teco), on behalf of the government of the Republic of China (Taiwan), has just donated 500,000 pieces of surgical masks, 50,000 pieces of N95 masks, 20,000 isolation gowns and 5,000 personal protective gowns to the Philippines.

Officials from the Manila Economic and Cultural Office and the Department of Health facilitated the handover at the Ninoy Aquino International Airport on June 11 with Teco Representative Peiyung Hsu. The items will soon be distributed by the DOH as well as other Philippine government agencies and medical institutions to protect frontline health workers in helping stave off the pandemic.

This is Taiwan’s second wave of humanitarian assistance to the

Philippines, following a previous donation of 300,000 medical masks, along with others from Taiwanese organizations and communities in the country.

According to Teco, Taiwan’s successful experience and contributions have won widespread recognition by the international community while the rest of the world continues struggling to contain the health crisis. As of June 8, Taiwan had 443 confirmed cases. Nearly 80 percent of them were cases from abroad, as there were no domestically transmitted infections for 56 consecutive days.

Taiwan’s Central Epidemic Command Center had announced on June 7 that it would lift restrictions limiting the number of people who could participate in daily life and leisure events.

MODI and Duterte during the former’s Philippine state visit in 2018 found—would continue to be deployed for the benefit of the entire humanity.

The leaders shared their satisfaction at the progress seen in recent years in all aspects of their countries’ bilateral relationship, including defense cooperation.

Modi said that India sees the Philippines as a vital partner in the Indo-Pacific region.

He conveyed his best wishes to his counterpart from the Philippines and its people for their commemoration of Independence Day on June 12.

Nations hail PHL’s Independence Day OREIGN governments, including those from the United States, Russia, Australia, China, Israel, Canada and Japan, have sent their felicitations to the Philippines as the latter commemorated its 122nd anniversary as a sovereign nation on June 12.

State Secretary Michael Pompeo cited the US-Philippines alliance that is “fortified” by the two nations’ shared history and bilateral cooperation.

“Our friendship and cooperation stand as a model for ensuring peace, stability, prosperity, and health across the Indo-Pacific,” Pompeo said. “As you commemorate your 122nd year of independence, the United States of America congratulates the people of the Philippines on this joyous occasion.”

For his part, Ambassador of the United Kingdom Daniel Pruce channeled national hero Andres Bonifacio by reading the poem, Pag-ibig sa Tinubuang Lupa.

TECO Representative Peiyung Hsu (second from left) with officials from the National Kidney and Transplant Institute

With a video posted in the British Embassy web site, Pruce read the opening lines of the piece in its original Filipino version: “Aling pag-ibig pa ang hihigit kaya sa pagka-dalisay at pagka-dakila gaya ng pag-ibig sa tinubuang lupa? Aling pag-ibig pa? Wala na nga, wala.”

Pruce hailed the “determination and resilience,” as well as the kindness and courage of Filipinos globally as they help the rest of the world with a different kind of battle: “Here in the Philippines, I’ve been full of admiration for the love of the country that shone through in the incredible collective effort to deal with the coronavirus.”

Malacañang also reported that Japan has sent its salutation to the Philippines as the latter observed its Independence Day: President Duterte was profoundly honored to receive, on behalf of the Filipino people, the warm greetings and good wishes of His Majesty

Emperor Naruhito of Japan on the occasion of the 122nd anniversary of the Philippines’s independence.”

Russian Foreign Ministry Spokesman Maria Zakharova conveyed Moscow’s “sincere congratulations” to Manila and the Filipino people, noting the two states’ developing ties.

The Embassy of Canada, in a statement, underscored its strong people-to-people ties with the Philippines: “Today, almost 840,000 Canadians of Filipino origin call [our country their] home. Now and always, we look forward to continue strengthening our relationship... Mabuhay at Maligayang Araw ng Kalayaan,” it read.

Meanwhile, Ambassador of Israel to the Philippines Rafael Harpaz praised the country’s achievements since it broke free from Spanish rule. Joyce Ann L. Rocamora and Ruth Abbey Gita-Carlos/PNA

Locsin extols virtues of late ex-DFA chief

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ECRETARY of Foreign Affairs (SFA) Teodoro L. Locsin Jr. paid homage to his predecessor Perfecto R. Yasay Jr. who passed away on the morning of June 12. “‘Jun’ Yasay has donned the garment of immortality…. More important, it makes him finally impervious to pain,” Locsin said in a tweet.

He recalled that Yasay recommended him for his previous post as the Philippine permanent representative to the United Nations.

“He hurt no one and helped everyone he could. He did what many fighting tyranny had to: Shield themselves with US law,” the current SFA remembered.

YASAY PNA

Yasay succumbed to pneumonia caused by the recurrence of his cancer, his wife Cecile confirmed. Joyce Ann L. Rocamora/PNA

Sports BusinessMirror

B8 Thursday, June 18, 2020

mirror_sports@yahoo.com.ph / Editor: Jun Lomibao

7 Filipino bets seeing action in inaugural Fiba eSports tilt

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SEVEN-MEMBER Philippine team will trade baskets against 16 other squads from other countries in the inaugural International Basketball Federation (Fiba) Esports Open, the world governing body’s answer to keep basketball alive during the Covid-19 pandemic.

The Samahang Basketbol ng Pilipinas (SBP) welcomed the members of the team in an online press conference on Wednesday with SBP President Al Panlilio praising the Fiba for the tournament that would momentarily ease the world’s craving for the sport during the lockdown.

“We’re put on hold, everyone in the sporting community. But we cannot stay still,” Panlilio said. “We want to play competitively especially in this basketball-hungry nation. And during this pandemic, connectivity is very critical. The sport and eSports truly blend today.”

The tournament, Fiba’s first foray into eSports, started on Friday and ends on Sunday. It will be live on the Fiba and SBP Facebook pages.

The Philippine team is composed of captain

Philippe Alcaraz Herrero IV Rial Polog Jr., Clark Banzon, Al Timajo, Rocky Braña, Aljon Cruzin and Custer Galas and Coach Nite Alparas. They will first face Indonesia in a five-game series.

Also in the tournament are Lebanon and Saudi Arabia for the Middle East; Australia and New Zealand for Oceania; Argentina and Brazil for South America; and Austria, Cyprus, Italy, Latvia, Lithuania, Russia, Spain, Switzerland and Ukraine for Europe.

“This is surreal because they are not just teammates for me but my brothers as well,” said Polog, the first Filipino to be drafted in the NBA 2k league. “We share the same goal of representing the country. Today it becomes a reality.”

“I believe Team Pilipinas is a dream team and I’m just humbled that I’m part of this because I have been playing this game almost half of my life” Herrero said. “With exceptional mechanics, good teamwork, and amazing teammates under my leadership, we can make it to the top. I’m just happy and excited to represent our country and make the Filipinos proud.” Ramon Rafael Bonilla

PLANIA STUNS GREER IN VEGAS

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ISING General Santos City star Mike Plania beat a heavily-favored Joshua Greer Jr. of the US via majority decision to score a major upset in the Covid-19 era on Wednesday at the MGM Grand, Las Vegas.

Plania booked the most rousing victory—he knocked down his opponent twice—in the fivebout card put up by Bob Arum’s Top Rank promotion that signaled boxing’s return from the lockdown. The judges scored the fight 94-94, 96-92, 97-91.

The 23-year-old Plania introduced his punches on the world stage when he knocked down Greer, the No.1 World Boxing Organization bantamweight contender, with a thunderous left to the jaw in the second round.

The American boxer held fort in the succeeding rounds but found himself in trouble again after falling to the canvas for the second time in the sixth round from another vicious left by the Filipino.

Greer scraped bottom from there but Plania was in top form the rest of the way to escape with the victory.

Plania improved to 24 wins against one loss, while ending Greer’s 19-fight winning streak.

The American’s record fell to 22-1 won-lost.

With the victory, Plania is expected to climb the ladder in the 120-lb weight class dominated by fellow Filipino Johnriel Casimero and Japanese Naoya Inoue. Ramon Rafael Bonilla

WORLD TRADE ORGANIZATION: SAUDIS FACILITATED SPORTS PIRACY

Schalke’s Weston McKennie gives an interview beside the pitch with a distance to the camera after the German Bundesliga match between Borussia Dortmund and Schalke 04 in Dortmund recently. AP

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AUDI ARABIA facilitated sports broadcasting piracy by blocking moves to shut it down, the World Trade Organization (WTO) said in a ruling Tuesday that throws new doubts on the kingdom’s takeover of English Premier League club Newcastle.

The WTO’s findings is the latest salvo in a long-running dispute over the bootlegging by Saudi Arabia-based beoutQ of broadcasting rights owned by Qatar’s beIN Sports.

The beIN network, which is banned from operating in Saudi Arabia, airs some of the world’s biggest sports competitions across the Middle East—including the World Cup and the Premier League—thanks to broadcasting rights worth billions of dollars.

The WTO decision on Tuesday provides a further complication for the Premier League, which is having to decide whether to approve a takeover of northeast English club Newcastle by the Saudi sovereign fund. The league has spent two years trying unsuccessfully to get beoutQ shut down.

“The panel considers that Qatar has established a prima facie case that beoutQ is operated by individuals or entities subject to the criminal jurisdiction of Saudi Arabia,” the WTO said.

Champions League organizer UEFA said

Premier League back in action after 100 days of lockdown

the piracy threatens “existence of professional sport as we know it.” Fifa demanded that Saudi Arabia “takes the necessary steps in order that it conforms” with the WTO’s findings.

Saudi Arabia failed to take action to stop beoutQ’s operations and protect the intellectual property of rights holders, the WTO dispute panel concluded. The panel highlighted how beIN was prevented from hiring lawyers in Saudi Arabia to take action in the courts against the piracy.

“Qatar has established that Saudi Arabia has not provided for criminal procedures and penalties to be applied to beoutQ despite the evidence establishing prima facie that beoutQ is operated by individuals or entities under the jurisdiction of Saudi Arabia,” the WTO said.

The Premier League was among sports competitions to lodge protests with the American government which led in April to Saudi Arabia remaining on a “Priority Watch List” as one of the “notorious markets for counterfeiting and piracy.”

It is a stumbling block to the Premier League approving the Saudi Public Investment Fund buying an 80% stake in Newcastle as part of a takeover alongside the wealthy British-based Reuben brothers and financier Amanda Staveley. They want to buy out retail entrepreneur Mike Ashley. AP

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ANCHESTER, England—Exactly 100 days after the last game, the Premier League is back.

In stadiums restricted to around 300 people as the pandemic dangers persist, Manchester City will host Arsenal after Aston Villa plays Sheffield United on Wednesday night.

It will usher in an unprecedented summer blitz of games in an attempt to complete the season by July 26, following Germany, Spain and England in resuming soccer.

A SIGN is posted at the entrance to ESPN’s Wide World of Sports at Walt Disney World. AP

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By Tim Reynolds The Associated Press

HE rate of positive coronavirus tests in the Orlando, Florida, area has been soaring in recent days.

The National Basketball Association (NBA) hopes that doesn’t matter.

After spending weeks on putting together an incredibly elaborate series of health and safety protocols—the word “testing” appears 282 times in the document—the NBA and the National Basketball Players Association (NBPA) believe they have done what is necessary to keep the 22 teams and others who will be part of the season restart at the Disney campus near Orlando next month safe and healthy.

Ready or not, basketball is almost back.

“No one is suggesting that this is going to be an infection-free, guaranteed environment,” NBPA Executive Director Michele Roberts told The Associated Press. “I guess, unless we go to... well, where would we go? What state has the lowest rate? There’s just no way of finding a sterile environment probably on this planet, but certainly, not in this country.”

Among the details that were included in the protocols released to teams Tuesday night: players will be invited to wear what the league calls a “proximity alarm” that will set off an audio alert when the person is within six feet of another person for more than five seconds and therefore not following social distancing guidelines, plus they can choose to wear a ring that will generate “a wellness assessment derived from metrics such as body temperature and respiratory and heart rate.”

Players and staff will also be given thermometers and a pulse oximeter so they can track their data and record it on the league’s daily health platform.

“I am optimistic about the NBA’s return to play policies and procedures,”Denver Coach Michael

READY OR NOT, BASKETBALL ALMOST BACK Malone, who found out last month that he had already beaten Covid-19 after an antibody test showed he had the virus. “They are going to do whatever it takes to make this the safest environment as possible. There are no guarantees and there will be a risk, but I feel confident in the measures to be taken pre-Orlando and once in Orlando.”

True, there will be a risk.

And the league acknowledges that no plan can be perfect.

“These Protocols are designed to promote prevention and mitigation strategies to reduce exposure to, and transmission of, the coronavirus,” the league said. “However, it is possible that staff, players, or other participants in the resumption of the 2019 to 2020 season nonetheless may test positive or contract the coronavirus.”

But by following strict rules—including regular testing, no leaving the Disney campus without returning to quarantine, no unauthorized guests, no family members even being permitted to arrive until late August and, though this didn’t likely have to be

said, no spitting on the court—the NBA and the NBPA hope the risk is minimal as teams prepare for a Disney stay that could exceed three months for the teams that make the NBA Finals.

“It’ll still probably bother everybody that we’re not home,” Miami center Bam Adebayo said. “But at the end of the day, we’ll be happy to play basketball.”

The NBA’s arrival at Disney is looming as the rate of positive tests around the state are rising, and officials such as Gov. Ron DeSantis are facing criticism for re-opening many parts of the state’s economy. But if NBA players aren’t venturing out among the public, the hope is that no matter what’s going on beyond Disney’s fences that the quasi-bubble for basketball won’t be affected.

The rate of positive tests in the Orlando area in the seven-day period ending Monday was nearly 6 percent. For the seven days immediately preceding that, it was 2.4 percent—meaning the rate has more than doubled in a one-week span.

“It’s concerning but not surprising,” Roberts said. “I’ve watched this governor behave as if

the virus is an inconvenience as opposed to a virus. So, I guess watching the way the state is adhering or not adhering to CDC guidelines, it’s not surprising that these numbers would go up.”

DeSantis has said Florida’s rising numbers reflects more testing and other factors, though the percentage of positive tests is also significantly higher than was the case just a couple weeks ago across the state and in the Orlando area.

The state’s agriculture commissioner, Nikki Fried, tweeted Tuesday that DeSantis “has lost control” of Florida’s response to the pandemic and recklessly re-opened the state “despite the data screaming for caution.”

DeSantis is a Republican; Fried is the only elected Democrat to currently hold a statewide office.

“My solace is that our guys are not going to be out and about in the city of Orlando,” Roberts said. “The players will be flown in noncommercial, and they will essentially be on campus for the entirety of their stay until such time as their season ends.”

Olympic sports bodies fall short of gender equality at board level

WITH some Olympic bodies having presidents stay in office for two decades and more, the latest review showed nine of 31 summer sports still had no policy to curb presidential terms. AP

G

ENEVA—A review of Olympic sports bodies published Tuesday found none had equal representation of women on their ruling boards.

Men were able to stay in high office because more than one-quarter of governing bodies had no term limits for presidents and other elected officials, according to an Association of Summer Olympic International It is a season that looked like it could be curtailed for the first time since the outbreak of World War II as Covid-19 was claiming around 1,000 lives a day in one of the hardest hit countries in the world for the disease.

But the government’s determination to bring back the national sport to lift the mood of the nation ensured social distancing exemptions were granted to allow teams to return to training and now games.

There has been a month of twice weekly Covid-19 tests for players and coaches.

Federations (ASOIF) survey of 31 sports on the Tokyo Olympic program.

Only one of the 31 achieved more than 40 percent of women on its board, and 18 had female representation of 25 percent or less.

“It is fair to say there is still a long way to go,” said Rowland Jack, a governance expert advising Lausanne-based ASOIF. “The amount of work being done varies considerably from one sport to another.”

“When the whole county went into lockdown, every industry sector was wondering when some semblance of normality could be returned to,” Premier League chief executive Richard Masters said. “But as soon as we’d spoken to government, as soon as we’d spoken to our clubs, we put in place really what I’d describe as a skeleton plan, trying to take it step by step, trying to fill in the gaps ever since.”

The Premier League was suspended after Arsenal manager Mikel Arteta tested positive for

The gender gap is comparable to the International Olympic Committee (IOC), which has four women on its 15-member executive board, or 27 percent representation. On the field of play, the IOC targets gender equality for athletes competing at the Olympics.

With some Olympic bodies having presidents stay in office for two decades and more, the latest review showed nine of 31 summer sports still had no policy to curb presidential terms.

“We are generally in favor of term limits,” ASOIF President Francesco Ricci Bitti said on a conference call. “Sports has to be well governed to be credible.”

The ASOIF review is the third since 2016 in a process aiming to raise standards and transparency in the often scandal-hit area of sports governance. The latest study showed improved scores with 24 of 27 core Summer Games sports reaching a target of 120 points from a maximum 200.

Soccer body Fifa was one of only six totaling at least 170 points across five areas assessed: transparency, integrity, democracy, development and control mechanisms.

“A lot of progress has been achieved over the past years and the overall trend is clearly positive,” Ricci Bitti said.

The three sports falling short of 120 were the troubled International Weightlifting Federation (IWF), swimming body Fina, and the International Judo Federation.

The 20-year IWF presidency of Tamas Ajan ended in recent weeks during an investigation of suspected corruption. Boxing body International Boxing Association did not take part in the review because it is not currently recognized by the IOC. “There are still large gaps between the best and weakest [international federations],” the review concluded. AP

the coronavirus on March 12. It ensured there would not be another round of games before the government belatedly halted all sports, meaning tens of thousands of fans did not mix—which could have saved lives.

“I have thought about it,” Arteta said on a Zoom call with media which replaced the usual prematch news conference due to health restrictions.

“I thought about the night I started to have some symptoms, how serious that was. It

was a matter that I could not make a decision, it had to be reported because I could put at risk a lot of people.”

Now Arteta’s on-field priority is trying to return Arsenal to the Champions League. The north London club is ninth in the standings, eight points behind fourth-placed Chelsea. But fifth place will secure a spot in the elite European competition if second-place Manchester City’s two-season European ban is confirmed by the Court of Arbitration for Sport next month. AP