BusinessMirror March 02, 2021

DOF sees quarantine easing; Neda cautious

By Bernadette D. Nicolas @BNicolasBM

& Cai U. Ordinario

@caiordinario

F

INANCE Secretary Carlos G. Dominguez III on Monday expressed optimism that Metro Manila’s shift to a looser quarantine status will happen sooner, but the National Economic and Development Authority (Neda), which has been pushing for this, sounded a cautious tone. It now prefers to await more substantial vaccine deployment data before reviving its pitch.

“I believe so,” Dominguez told reporters when asked if the shift to modified general community quarantine (MGCQ), at least for Metro Manila, is more likely by April.

Dominguez, who heads the Economic Development Cluster, made the remark after President Duterte said late Sunday night that he will reopen up the economy once the country gets 2 million doses of Covid-19 vaccines. A day after receiving China’s donation of 600,000 doses of CoronaVac vaccines from Chinese pharmaceutical firm Sinovac, the Philippine government on Monday started its vaccination drive.

Wait and see

Meanwhile, Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua told the BusinessMirror that the shift to MGCQ is not the only condition that would allow the country to exit the recession.

Chua said apart from MGCQ, it is

important to ensure that the number of Filipinos allowed to go outside their homes is expanded, and there is greater access to public transport.

“We will regularly review the health, economic, and vaccine data to make our next recommendation to the President. We need all three —MGCQ, expanding age group, and more public transport to make a strong and safe recovery,” Chua told this newspaper.

Chua said monitoring data such as sustained vaccine deployment or rollout is part of Neda’s process before making policy recommendations.

However, Chua expects to take up the MGCQ topic with the President immediately after the data on the vaccine is obtained.

As far as taking the jab is concerned, Chua said he and his wife

are willing to be vaccinated with a Food and Drug Administrationapproved vaccine. “Whatever vaccine the FDA says is good for our health and age group and following the priority order,” Chua told the BusinessMirror on Monday.

On Sunday, Duterte led the officials who witnessed the vaccines’ arrival at Villamor Air Base, from where they were brought by a convoy of vehicles to a warehouse in Marikina.

The 600,000 doses of Sinovac vaccines were airlifted by a Chinese Xi’an Y-20 military aircraft. Also welcoming the arrival of the vaccines at the VAB were Department of Health officials led by Secretary Francisco Duque III and Foreign Affairs Secretary Teodoro L. Locsin Jr. Continued on A2

PHL MANUFACTURING

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Tuesday, March 2, 2021 Vol. 16 No. 142

P25.00 nationwide | 2 sections 16 pages |

GROWTH STEADY IN FEB DOMINGUEZ NIXES PROPOSED BORACAY AUTHORITY’S ROLES

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

DOMINGO

LEGASPI

GALVEZ

DIZON

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The national vaccination campaign reeled off on Monday (March 1), just hours after the arrival of the first batch of Sinovac doses from China. Among the key officials who got inoculated, in an apparent boost to public confidence, are: Clockwise, from top left: Health Undersecretary and Food and Drug Administration (FDA) Director General Eric Domingo; Philippine General Hospital Director Dr. Gerardo Legaspi; vaccine czar, Secretary Carlito Galvez Jr., and Bases Conversion and Development Authority (BCDA) chief and testing czar, Secretary Vince Dizon. PHOTOS BY PNA AND PCOO

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By Bianca Cuaresma

@BcuaresmaBM

HE Philippine manufacturing sector expanded steadily in February this year, indicating further progress across the board.

International think tank IHS Markit reported on Monday that t he Phi l ippines’s Pu rc hasing Managers’ Index (PMI) in Febru-

ary remained at 52.5, keeping its pace unchanged from the previous month.

A country’s PMI gauges the

health of its manufacturing sector. It is calculated as a weighted average of five individual subcomponents. Readings below 50 show deterioration in the industry while readings above the 50 threshold signal growth in the manufacturing sector.

This is the first time that the Philippines’s PMI hit two consecutive months of being in growth territory since the beginning of pandemic-induced lockdow ns

and restrictions.

“Filipino manufacturers kept up a solid rate of expansion overall in February, thereby extending the current sequence of improvement in operating conditions to two months,” IHS Markit said.

“The latest reading signaled a solid uptick in operating conditions, with the rate of growth matching that seen in January,” it added.

See “Manufacturing,” A8

‘Tariff cut to hit both hog and corn production’

By Jasper Emmanuel Y. Arcalas @jearcalas

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OCAL hog raisers and corn farmers have cautioned the government that lowering pork tariffs may discourage domestic pig production and consequently impact corn producers as

demand for the feed material could be dampened.

National Federation of Hog Farmers Inc. President Chester Warren Y. Tan told the BusinessMirror that domestic pork producers would hesitate to continue restock ing their far ms if the government lowers pork

PESO exchange rates n US 48.6530

tariffs since locally produced pork would be at a disadvantage against cheaper imports.

“The first one to be affected would be the producers. They will hesitate or stop producing. And if they stop producing this year, that will result in a one-year gap in the production cycle,” Tan said

in an interview.

“And we do not want that to happen because as we estimated, it will take us about 5 to 7 years to return our production to pre-ASF levels.

We are now in our second year and if we stop producing, then it will delay our recovery,” Tan added.

Continued on A2

HE Department of Finance (DOF) and the Boracay Inter-Agency Task Force (BIATF) are opposed to the substitute bill in the House of Representatives that establishes the Boracay Island Development Authority (Bida) as a governmentowned and -controlled corporation (GOCC).

In a position paper re-sent to Speaker Lord Allan Jay Q. Velasco on January 28, 2021, Finance Secretary Carlos G. Dominguez reiterated that the proposed Bida is “inconsistent with the government’s ongoing policy to streamline and rationalize the government corporate sector and bureaucracy as a whole.” He underscored the need for more coordination among government agencies in dealing with Boracay’s issues, instead of creating a new government corporation or economic zone.

Separately, Interior Undersecretary for Operations Epimaco V. Densing III told the BusinessMirror the BIATF’s stand: “We don’t want [Bida] to be a GOCC but a regulatory office protecting and preserving the island and ensure compliance of environment laws and longterm tourism sustainability.

Basically, BIATF’s [proposal] wants Bida to carry out the functions of the current task force in a more permanent manner, to be under the Office of the President,” he said.

BIATF’s term is scheduled to expire in May 2021.

The substitute bill, which now has over 100 coauthors, has also been opposed by local government executives and the private sector representatives in Boracay, the municipality of Malay, and Aklan province. (See, “New

bill on Boracay regulatory authority opposed,” in the Busi nessMirror, February 28, 2021.)

Existing agencies do Bida’s jobs

Dominguez, for his part, said Bida’s functions will just be redundant and overlap with the functions of existing government agencies such as the Boracay Inter-Agency Rehabilitation Management Group, “specifically tasked to implement…Phase 2 of Boracay’s rehabilitation,” the Departments of Environment and Natural Resources, Trade and Industry, Transportation, Public Works and Highways, Health, Tourism, Science and Technology, National Defense, the Interior and Local Government, and a whole slew of regular line and attached agencies.

“Instead of the creation of new authorities, coordination should be intensified among the above-mentioned national government agencies, councils, and GOCCs, with the LGUs concerned,” he stressed.

Dominguez also noted Bida’s creation “is no longer necessary” as the Philippine Economic Zone Authority is already empowered to administer and manage all ecozones, under Republic Act No. 7916.

No to new ecozone, tax perks

O

n the proposed establishment of the Boracay Islands Special Economic and Tourism Zone, Dominguez noted the second tax reform package “mandates that all applications for tax incentives should be accompanied by a cost-benefit analysis and the continued grant of incentives is conditional on the performance of incentivized firms.” As such, this should also apply when creating new ecozones and free trade zones.

Continued on A2

n japan 0.4568 n UK 67.8855 n HK 6.2725 n CHINA 7.5220 n singapore 36.5208 n australia 37.5115 n EU 58.7388 n SAUDI arabia 12.9738

Source: BSP (March 1, 2021)

News

BusinessMirror

A2 Tuesday, March 2, 2021

Senators commend Pasig Mayor ‘Vico’ T HE Senate unanimously adopted Monday consolidated resolutions commending Pasig City Mayor Victor Ma. Regis “Vico” Nubla Sotto who was recently recognized by the US State Department as one of the 12 “International Anticorruption Champions.”

Senate Resolution No. 657, introduced by Sen. Manuel “Lito” Lapid, was adopted in consideration with Senate Resolution No. 660, authored by the awardee’s uncle, Senate President Vicente Sotto III and Senator Panfilo Lacson.

In sponsoring Resolution 660, Lacson said Mayor Sotto has set the bar high in public service, noting that Pasigueños are “fortunate to have a leader who embodies wise thoughts, prudent actions and selfless intentions to advance the well-being of his constituents.”

The State Department conferred the award on Mayor Sotto as a standard-bearer of “a new generation of Philippine politicians who prioritize anti-corruption and transparency” in their election campaigns and in the office.

“This recognition by the US State Department bestowed upon Mayor Vico Sotto, the only Filipino public servant in the roster of honorees, meaningfully uplifts the morale and dignity of the Filipino people amid the challenging times of global pandemic,” the Sotto-Lacson Resolution stated.

Senate President Sotto III lauded the mayor for accomplishing the things he did despite being relatively new in the political arena.

The Senate leader added that the young mayor’s accomplishments are “truly impressive and laudable.”

In his sponsorship speech, the Senate President said Mayor Sotto’s “new and fresh perspective have led to many positive changes in the local government of Pasig City … like saving billions for the city government coffers as a result of transparent bidding, 140 percent in the increase in salary of health aides and the regularization of contractual workers who had been serving the government for more than 20 years.”

The Senate President said the recognition by the State Department “has brought optimism in a government where corruption is the norm and goodness and honesty are the exceptions.”

Undeniably, Sotto III said, Mayor Vico is “a true leader in words as well as in deeds,” adding that the young mayor exemplified the true essence of public service, which is selflessly serving others and not himself.

“To my nephew and godson, I already knew from the start that you are destined for greater heights. Your journey is still long and your tasks are many, if not endless. But with your current unparalleled achievements, I am certain that there is nothing that you cannot accomplish,” the Senate leader added.

The Senate Resolution acknowledged that Mayor Sotto: eliminated kickbacks in the awarding of city contracts and established a 24/7 public information and complaints hotline for the purpose; involved civil society organizations in budgeting and policymaking; mandated at least a 10-percent reduction in the value of city government contracts, a measure intended to reduce bribery in the contract awarding process.

The resolution likewise lauded Mayor Sotto for his proactive and innovative approach amid the coronavirus pandemic.

Butch Fernandez

DOF sees quarantine easing; Neda cautious Continued from A1

National, local govt cooperation

According to Dominguez, the “national and local governments are working together with the private sector to assure that all adults are inoculated as soon as possible.”

On being vaccinated with Sinovac’s vaccine, Dominguez said he has the same position as Defense Secretary Delfin Lorenzana, who said on Twitter that he would have wanted to be the first to receive the vaccine “to build trust and confidence among personnel,” but health experts advised that those over 59 should not be vaccinated with CoronaVac. “I have the same message as Del Lorenzana,” said Dominguez, who is 75 years old.

Lorenzana is 72

Last week, Duterte rejected economic managers’ proposal to lower to MGCQ the community quarantine classification in Metro Manila and other areas under general community quarantine (GCQ) until the govern-

ment starts its vaccination drive.

The Neda earlier proposed placing the entire country under MGCQ

by March to address the growing hunger rate, poverty and income loss arising from the pandemic.

The encompassing MGCQ declaration, Neda said, would allow more businesses to resume their operations.

Due to Covid-19 induced lockdowns in 2020, the Philippine economy posted a contraction of 9.5 percent in pandemic year 2020, the worst performance on record since 1946. As of this month, areas which remain under GCQ include the NCR and Davao City.

Other areas under GCQ until the end of February are Batangas and Cordillera Administrative Region (CAR), which includes Abra, Apayao, Benguet, Baguio City, Ifugao, Kalinga, and Mountain Province for Luzon; Tacloban City for the Visayas; Davao del Norte, Lanao del Sur and Iligan City for Mindanao.

The rest of the country is already under MGCQ.

www.businessmirror.com.ph

BOC breaches collection goal, nets ₧46.1B in Feb

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By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of Customs (BOC) breached its February collection target as it posted revenue of P46.145 billion.

In a statement on Monday, the BOC said its collection was 9.5 percent or P3.988 billion above its P42.157-billion goal for the month.

“Indeed, the bureau continues to prove the intensified collective efforts of all ports this year, not to mention, the improve-

ment of volume of importation while maintaining border security and trade facilitation,” the bureau said.

Preliminary reports from BOCFinancial service indicated that 10 of the 17 Collection Districts surpassed their collection target

for February, namely, the Port of Legaspi, Port of Tacloban, Port of Cagayan De Oro, Port of Subic, Port of Batangas, Port of Iloilo, Port of Clark, Port of Davao, Port of Manila and Manila International Container Port.

In January, the BOC also surpassed its monthly revenue collection target by 7.4 percent or P3.277 billion.

Customs Assistant Commissioner and spokesman Vincent Philip Maronilla told BusinessMirror they are optimistic that they can exceed the P616.7-billion target for this year.

“As long as the trade environment remains consistent with the macroeconomic protections of

the DBCC (Development Budget Coordination Committee) we are confident that we will surpass our annual target,” Maronilla said in a message.

The full-year goal set for BOC this year is significantly higher by 21.84 percent than the downgraded target set for the BOC at P506.15 billion last year.

The bureau’s total revenue collection last year reached P539.7 billion, above its full-year revenue collection target by 6.6 percent or P33.5 billion.

The downgraded goal for BOC last year was a 30.76-percent cut from the original target of P731 billion.

‘Tariff cut to hit both hog and corn production’ Continued from A1

Tan said both local producers and importers are now waiting for Duterte’s decision on the recommendation of the Cabinet-level Committee on Tariff and Related Matters (CTRM) to reduce pork tariffs.

The BusinessMirror earlier reported that the Cabinet-level CTRM is set to submit its recommendation to Duterte to lower pork tariffs to 5 percent for MAV and 15 percent for outside MAV for three months. (Related story: https://businessmirror.com.ph/2021/03/01/ govt-rushes-pork-tariff-cuta s-local-ra isers-protest /) The rates would subsequently increase to 10 percent (MAV) and 20 percent (outside MAV), respectively, for the duration of nine months.

Agriculture Secretary William D. Dar told the BusinessMirror that the CTRM, which advises the President on tariff-related matters, “hopefully” submits the recommendation this week as the proposal is part of the government’s measures to bring down pork retail prices below P300 per kilogram.

“It is crucial if he will sign

an executive order or not. If he pursues tariff reduction, then the industry will take two steps backward,” Tan said.

Duterte can only modify the tariff rates on pork imports through the issuance of an executive order when Congress is in session, as stipulated by existing laws.

If Congress will not go into an emergency recess in the following weeks, then Duterte may have to wait until March 27, the calendared date for Congress’s recess, for him to be able to bring down pork tariffs.

Tan said only 30 percent of the hog raisers in Luzon are still in operation; and about 90 percent in the Visayas-Mindanao regions.

This, after more than a year since the fatal African Swine Fever (ASF) caused disruptions in the domestic industry.

He added that they estimate about 5 million pigs out of the total 14 million herd nationwide has been lost due to ASF and ASFrelated actions, such as culling and stoppage of production.

Impact of stop-production

“If our producers see that the

government’s programs are good, then they will continue to produce and recover. But if the market will be flooded with imported pork and the producers see that they won’t be able to compete against imported pork during Christmas or early next year, then they will stop,” Tan said.

Worse, Tan said, if hog raisers reduce or stop their production this would result in an adverse ripple effect on the whole value chain, with corn farmers at the losing end as well.

“This will impact the farmers of corn, coconut oil, and rice bran because these byproducts are sold to the livestock sector. If a lot of swine producers stop production, then demand for these commodities will decline,” he said. “They will lose the market. No one will be able to absorb their supply, thus, it will result in oversupply and plunge in prices.”

Philippine Maize Federation Inc. (PhilMaize) President Roger V. Navarro said they still oppose the reduction of pork tariffs as they want to avert more problems in the agriculture sector.

Navarro added that demand for yellow corn will further damp-

en if the remaining hog raisers in the country reduce or stop production.

He estimated that demand for yellow corn has declined by 30 percent in the past year due to hog production reduction, due to ASF concerns, as well as cuts in broiler output.

“And this will affect the farm workers. A lot of farm workers will be displaced,” Navarro told the BusinessMirror.

If the government reduces pork tariffs, then corn farmers would be forced to diversify or shift to other crops to make ends meet, Navarro said.

However, he pointed out that farmers will not be able to earn the same income they earn from corn farming if they venture into other crops such as cassava and rice.

Navarro explained that farmers planting corn are able to harvest twice in a year due to the short cropping season but crops like cassava would take about 9 months and more.

“If things get worse, no one will plant anymore and farmers will just wait for their 4Ps cash subsidy,” he said.

DOMINGUEZ NIXES PROPOSED BORACAY AUTHORITY’S ROLES Continued from A1

“The presence of economic zones does not guarantee economic growth and development of a certain area,” he underscored. “We believe a more holistic approach that includes building the necessary infrastructure, developing our labor force through investments in their education and health, and eliminating multi-layered bureaucracy, to name a few…. The policy direction of this administration is to depart

from granting wasteful incentives that denies the government and the public with the resources that will directly benefit those who truly need them.”

Doming uez likew ise noted that a number of designated ecozones have yet to be operational. “There is thus a need to go slow with their establishment or to defer the creation of additional or new ones…”

The House Committee on Ways and Means, however, approved

tax incentives for Bida investors in December. (See, “Lawmakers OK tax perks in bill for Boracay SETZ,” in the BusinessMirror, December 8, 2020.)

The DOF chief said the proposed power of Bida to borrow from local and foreign sources should be “subject to the review and approval” of the Bangko Sentral ng Pilipinas’s policy-making Monetary Board and the DOF, “in line with the policy of promoting fiscal prudence to avoid unduly

exposing the national government to potential increase in contingent liabilities.”

The DOF also does not support the proposed establishment of a revenue district office and a customs district office exclusively for Bida and its surrounding municipalities, as “the power to divide the country into such number of revenue and customs districts has been delegated to the Commissioners of Internal Revenue and of Customs,” as per existing laws.

Amid Ledac omission, House sees Cha-cha move approval Continued from A8

Quimbo added that Azcuna had clarified that the members of the Constitutional Commission “wanted the Constitution to be untouched really for five years, including the economic provisions, to see if it

works; I think with 30 years of experience, it is time to recalibrate.”

The lawmaker informed members of the House that in 2019, even before the pandemic, “we fell behind Singapore, Indonesia, and Vietnam in terms of attracting FDI [foreign direct investment]

inflows.”

“This is perhaps to be expected,” explained Quimbo, “since according to the OECD’s FDI regulatory restrictiveness index, the Philippines has the most restrictive economy in the Asean where FDI is concerned.

In fact, the Philippines ranked the

fourth lowest out of 87 countries around the world.”

“This resolution is one necessary step towards the creation of a fairer and more dynamic business environment—one geared towards maximizing benefits for the Filipino people,” she said.

The Nation BusinessMirror

www.businessmirror.com.ph

House panel OKs bill for creation of centers for disease prevention, control

By Jovee Marie N. Dela Cruz @joveemarie

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HE House Committee on Health on Monday approved a bill creating the Philippine Centers for Disease Prevention and Control (CDPC).

The committee, chaired by Quezon Rep. Angelina Tan, approved the substitute bill to modernize the country’s capabilities for public health emergency preparedness.

The bill was included as one of the priority measures of the Legislative-Executive Development Advisory Council (Ledac).

Tan, who sponsored the Technical Working Group (TWG) draft substitute bill as chairman of the health panel and one of the principal authors of the consolidated measure, said the passage of the bill is urgently necessary as the country, just like most of health systems in the world, is ill-prepared to address the challenges of pandemics such as Covid-19.

“The bill seeks to strengthen the current bureaucracy that is mandated to address communicable diseases in the country through organizational and institutional reforms,” Tan said.

“To better prepare against public health emergencies, we need to embark on two essential initiatives: health modernization and institutional reforms. We cannot merely keep on rearranging the boxes within our health organization without capacitating our health personnel and resources.

That will not work. We need to modernize and reorganize our health system at the same time to protect the public from health risks,” Tan added.

The bill mandates the undertaking of necessary reforms in the recruitment, training, employment and management of the country’s public health emergency personnel; development of relevant programs for the acquisition and upgrading of appropriate technologies, laboratories, and equipment; and provision for the needed relocation, improvement, and construction of facilities to enhance the country’s preparedness and response to public health emergencies.

Once enacted, the CDPC will be created as an attached agency to the Department of Health (DOH) and serve as the principal agency mandated to develop and apply communicable disease prevention and control initiatives. It will serve as the technical authority on all matters regarding disease prevention and control.

It will remove the function of addressing the communicable disease concerns from the DOH and transfer this mandate to the CDPC, after absorbing the existing Epidemiology Bureau, Research Institute for Tropical Medicine, STD AIDS Cooperative Central Laboratory, International Health Surveillance Division of the Bureau of Quarantine, and Disease Prevention and Control Bureau, except for divisions with existing laws like the Mental Health Division, Cancer Division and Oral Health Division.

Editor: Vittorio V. Vitug • Tuesday, March 2, 2021 A3

Govt unfazed by delay in vax delivery, sticks to 1.7-million HCW inoculation goal in March

By Samuel P. Medenilla @sam_medenilla

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OTWITHSTANDINGdelays in the delivery of its negotiated procured vaccines, the government is sticking to its target of completing the vaccination of 1.7 million health-care workers (HCW) within the month for the much-awaited nationwide easing of quarantine restrictions, according to the National Task Force (NTF) against Covid-19.

President Duterte earlier said he may finally place the entire country under modified general community quarantine (MGCQ) as recommended by government economic managers once the government finally secures the necessary vaccine doses for the said sector.

Supply issues

NTF Covid-19 chief implementer Carlito Galvez Jr. said they are anticipating to get 5.1 million doses of Covid-19 vaccine to be delivered this month.

Of which, 3.5 million will come

from the Vaccines Global Access (Covax) facility of the Global Alliance for Vaccines and Immunization (GAVI), and the other million come from Sinovac Biotech.

Also included is the recently delivered 600,000 doses of Sinovac vaccines, which was donated by the Chinese government.

Aside from the donated Sinovac vaccines, Galvez was unable to give the exact date when the 4.5 million doses of Covid-19 vaccine will arrive in the country due to supply issues.

“The arrival of the vaccines were delayed because of the global acute shortage [for Covid-19 vaccine supplies] and logistic challenges,” Galvez explained in an online news briefing on Monday.

Priority sector

THE 5.1 million doses of vaccines are expected to benefit over 2.5 million people since each of vaccinees will need two doses to develop immunity from Covid-19.

Galvez said they are aiming to use most of the available vaccines to inoculate 1.7 million HCWs nation-

wide. The remaining 800,000 doses will be used for other “government essential workers.”

The vaccine czar said this may prove challenging since only 200 to 300 of the HCWs have expressed interest to be immunized after the government started the deployment of the donated Sinovac vaccine on Monday at the Philippine General Hospital (PGH) in Manila.

This as the Food and Drug Administration (FDA) stated that the Sinovac vaccine only has a efficacy rate of 50.4 percent when used on HCWs. More HCWs are expected to avail of the Sinovac vaccine as the government continues its official vaccination drive in the next three days.

To recall, some members of the Presidential Security Group (PSG) already used unregistered Covid-19 vaccine from Chinese pharmaceutical firm, Sinopharm last year.

Vaccine deployment

TO help build public confidence on the Sinovac vaccine, several government officials joined 100 people,

who participated in the ceremonial launch of the vaccine deployment.

Among the said inoculated officials are Galvez, NTF Deputy Chief Implementer and testing czar Vivencio “ Vince” Dizon, PGH Director Gerardo Legaspi, FDA Director General Eric Domingo, and Metropolitan Manila Development Authority (MMDA) Chairman Benhur Abalos.

Those who got the first vaccine jab are scheduled to get their second shot four weeks after the first inoculation.

Galvez said they will be deploying the available Sinovac vaccine at the Vicente Memorial Medical Center in Cebu City on March 3, 2021, and in the Southern Philippines Medical Center in Davao City on March 5, 2021.

“If we will have remaining doses after that, we will also give [vaccine doses] to Region 3, 4A, Baguio City, and other areas, which were hit by Covid,” Galvez said.

Moral obligation

GALVEZ appealed to HCWs and

other Filipinos to avail of the f ree Cov id-19 vacc i nes f rom the government so the country could finally ease quarantine restrictions.

Being inoculated for Covid-19, he said, is a “moral obligation” and that the best vaccine is not the ones with the highest efficacy, but what is readily available and approved by regulatory agencies.

“We will not able to achieve the new normal and our economy will not be able to recover until we are inoculated,” Galvez said.

On Sunday, Duterte said he may consider “reopening the economy,” which remain restricted by quarantine measures, if the government is able to secure 2 million stockpile of Covid-19 vaccine doses, or is able to immunize between 20 million and 40 million people.

Galvez said they may be able to raise the necessary stockpile demanded by the President by the second quarter of the year with the expected arrival of 26 million doses for the general population vaccination drive.

Solon joins push for gradual shift It’s ‘open season’ anew to F-to-F classes in ‘low-risk’ areas for sardine fishing in

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S many students are being left behind academically under the blended learning system, a lawmaker has proposed to the Department of Education (DepEd) a gradual and properly phased shift to face-toface classes in low-risk areas for the next academic school year and release a detailed assessment of the blended learning system.

Rep. Ronnie Ong of the Ang Probinsyano Party-list said the DepEd “should start exploring possible ways to start face-to-face classes in low-risk areas.

Ong’s proposal came after Senate President Vicente Sotto III endorsed the resumption of classes in areas already cleared of the Covid-19 virus, as declared by their local school boards.

The Senate leader also warned that prolonging the dire situation of public school students, especially, who are kept from attending physical classes even though their areas are Covid-free could deepen the inequality among the youth. These students are struggling with connectivity and gadgets lack, making virtual learning hard for them.

“Yes, in areas with no more problem with Covid,” the Senate leader said in an interview with DWIZ over the weekend, and added, “yes, those places that will be declared by their local school boards as possibly allowing face-to-face.”

According to Ong, many children in the countryside are hardly keeping up with the blended learning system and are completely left behind by their urban counterparts.

“While there is the modular system that is used as an alternative for online learning, I don’t think that they are learning enough. I think that face-toface classes should be allowed in areas where there are no Covid cases with zero possibility of transmission,” Ong said.

“This can be done so by batch, or

Zambo Peninsula–BFAR

By Jonathan L. Mayuga

While there is the modular system that is used as an alternative for online learning. I don’t think that they are learning enough. I think that faceto-face classes should be allowed in areas where there are no Covid cases with zero possibility of transmission.

@jonlmayuga

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BM

Rep. Ronnie Ong of the Ang Probinsyano Party-list by schedule per class—like allowing students to come in twice a week. Free swab tests for students and teachers in public schools, like the newly introduced saliva swab test, should also be standard protocol in campuses. These are some of the factors DepEd should already be considering, and thus should be preparing for when it comes to the possibilities of doing face-to-face classes again,” Ong said.

Commission on Higher Education (CHED) Chairman Prospero de Vera III also recommended to President Duterte the resumption of face-to-face classes in a limited and gradual manner in certain universities and institutions of higher learning. Since the start of February 2021, CHED, along with Inter-Agency Task Force had been doing rounds in university campuses to inspect the readiness of the schools for resumption of face-to-face classes.

“We’re talking about grade school, high school, and college levels here ­—students who may be conscientious enough to adhere to safety and hygiene protocols for face-to-face classes. As early as now, schools should also begin equipping their facilities with alcohol dispensers, temperature checkers and QR-coded health declaration forms in preparation for the resump-

tion of face-to-face classes,” Ong said.

Ong also urged DepEd to submit to Congress a full and truthful assessment of the implementation of the blended learning system.

As another academic year is set to begin in August this year, Ong said DepEd should provide the public, through Congress, with an “Ulat ng Bayan” report.

“It’s been six months of facilitating our children’s education through online and modular learning. Some may have adapted to this new mode of learning, but there are many who remain struggling with online and module classes. By now, DepEd and CHED should assess this system, and let the public know if it is effective so far. Are students really learning in this mode of learning? Are teachers coping with new methods? Ask and consult with both parents and teachers on interventions that can be made to improve the quality of learning our students are getting,” he said.

Ong was among the policy-makers who strongly called for the postponement of classes last year, citing that many students and families cannot adapt immediately to the need for educational gadgets needed for online learning. Jovee Marie N. Dela Cruz

HE Bureau of Fisheries and Aquatic Resources (BFAR) has officially lifted on Monday, March 1, 2021, the 10th closed fishing season for sardines in the Zamboanga Peninsula, thereby allowing fishers to catch sardines in the area anew.

The declaration of a threemonth closed fishing season has been going on in the last 10 years in accordance to Bureau Administrative Circular (BAC) 255 as a marine conservation measure to help protect and conserve sardine species in the Zamboanga Peninsula.

Beginning every December 1, the closed fishing season bans for three months the catching of sardines using purse seine, ring net, bagnet and scoop net within a conservation area covering the East Sulu Sea, Basilan Strait, and Sibuguey Bay. By enforcing the closed season, sardines fish stocks are able to replenish and recover, ensuring the abundance of sardines and other fishery resources in the area.

Data from Region 9’s National Stock Assessment Program showed an upward trend in sardine production with the volume reaching an all-time high of 297,683.49 MT in 2020 since 2011, the year when the implementation of the closed season was started in Zamboanga. This is a significant indicator especially in sardinerich Zamboanga waters, which account for an average production

of 49.25 percent of the country’s total sardine from 2010 to 2020 based on data from the Philippine Statistics Authority.

In a news statement, BFAR National Director Eduardo B. Gongona urged fishermen to take advantage of the open fishing season.

“More than ever, now is the time to take advantage of this open fishing season to take part in ensuring the country’s food supply,” he said.

The active participation of law-enforcement units, the local government, the private sector, and stakeholders, including local fisherfolk and key players in the sardine industry, the government, through the DA-BFAR, he said, was able to implement effective conservation and management measures, including the sardine closed season.

In support of the closed fishing season and as part of its ongoing campaign against Illegal, Unreported, and Unregulated Fishing (IUUF), the DA-BFAR, through the Fisheries Protection and Law Enforcement Group in Region 9, continues to conduct full patrol operations.

During the closed fishing season, seven apprehensions were made, but none in violation of BAC 255.

The implementation of the sardine closed fishing season in the Zamboanga Peninsula, as well as in other major sardine fishing grounds in the country is part of the integrated in the National Sardines Management Plan (NSMP).

Three out of five most senior SC magistrates vying for Chief Justice post

O

NLY three out of five most senior associate justices (AJ) of the Supreme Court are vying for the Chief Justice (CJ) post that will be left vacant on March 27, 2021, with the early retirement option signified earlier

by CJ Diosdado Peralta.

Both Justice Secretary Menardo Guevarra and SC spokesman Brian Keith Hosaka confirmed that only three

have completed the submission of the requirements to qualify for the post.

They are AJs Estela Perlas Bernabe, Alexander G. Gesmundo and Ramon Paul L. Hernando.

AJs Marvic Mario Victor F. Leonen and Alfredo Benjamin S. Caguioa, both appointees of former President Benigno Aquino III to the SC, did not submit their requirements, prompting the Judicial and Bar Council (JBC) to

rule out their inclusion in the shortlist.

The JBC had set the deadline for the application for the CJ post until February 26, 2021.

The JBC, which is tasked to vet all applicants and nominees for vacancies in the judiciary and to shortlist the qualified candidates, originally set the deadline on February 15.

“Only three associate justices of the Supreme Court had submitted the doc-

umentary requirements in support of their nomination for the Chief Justice post: [Associate] Justices Bernabe, Gesmundo, and Hernando. No other persons applied,” Guevarra told reporters.

Guevarra noted that Justices Leonen and Caguiao did not submit any document that would indicate their desire to become the next chief magistrate.

“I could not speculate on the reason: Either [they’re] not really interested or

unable to contemplate and submit all the requirements on time,” the justice secretary noted.

Guevarra is one of the ex-officio members of the JBC. Hosaka said the three applicants would undergo public interview on March 10, 2021, by the JBC panel.

The deliberation on the shortlist for the CJ post, on the other hand, is scheduled on March 22, 2021, accord-

ing to Guevarra.

Meanwhile,GuevarrasaidtheJBChas partly granted the recommendation of the SC to ease its rules and requirements for the justices vying for the CJ post.

“In part only, modified as to certain documentary requirements [e.g., dispense with swab test, other records already on file, etc.] rejected as to waiver of public interview,” Guevarra said. Joel R. San Juan

A4 Tuesday, March 2, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

DTI chief says loosening of pandemic curbs to boost summer domestic travel

By Elijah Felice E. Rosales @alyasjah

T

HE Department of Trade and Industry (DTI) expects appetite for travel to improve in time for the summer season, as the arrival of Covid-19 vaccines and easing of mobility requirements should encourage people to move around the country.

Trade Secretary Ramon M. Lopez on Monday said most Filipinos may find it enticing to travel now that the government has unified the protocols for cross border movement. He explained the move to relax travel restrictions could boost mobility, especially among persons allowed to leave their houses.

Masbate farmers’ cooperative opens water refilling station

By Jonathan L. Mayuga @jonlmayuga

M

EMBERS of the Miaga Pag-asa Agrarian Reform Community Cooperative (MPARCC) in Uson, Masbate, are now certified entrepreneurs.

They are now running their own purified drinking water refilling station in the barangay.

Along with the Department of Social Welfare and Development (DSWD), the Department of Agrarian Reform (DAR) has announced on Monday the turnover of the Aqua Miaga Purified Drinking Water Refilling Station to the members of the MPARCC. The water refilling station is expected to generate additional income for members of the cooperative.

DAR-Masbate provincial agrarian reform program officer in charge Herald R. Tambal said the project, which is being implemented under the Convergence on Livelihood Assistance for Agrarian Reform Beneficiaries Project (CLAAP), is worth P900,000 and would benefit at least 40 agrarian reform beneficiary (ARB)-members of the MPARCC. Tambal said the CLAAP was created in line with the thrusts and direction of DAR Secretary John R. Castriciones to implement programs and projects to help farmers retain their Certificates of Land Ownership Award (CLOAs), maintain their farming activities, and enjoy the economic benefits for taking care of their awarded lands.

“CLAAP assists the farmers increase their access to economic opportunities through the assistance of line departments and utilizes the ARB households as the focal point for the implementation of the agrarian reform program,” Tambal said.

Ta mba l also encouraged the ARBs to strengthen their agrarian reform beneficiary organizations (ARBOs) through capacity-building and attending training to develop their skills on the latest farming technologies, communit y organizing, financial operation, and management of livelihood micro-enterprises activities.

“It will standardize to a certain extent the requirements asked by our LGUs,” Lopez said in a TV interview.

“What we cannot standardize is the decision of some LGUs to still require a PCR test. At least to the other requirements, they are standardized.”

The Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) last week issued an order removing some of the requirements in traveling from one town to another. Under the new rules, local travelers are no longer mandated to get a Covid-19 test and to go on quarantine before entering a different locality.

The IATF also removed the requirement for travelers to provide a travel authority from the

Joint Task Force Covid Shield, as well as a health certificate from a medical institution.

“This decision of the IATF will help mobility, especially of those allowed to travel. This is one of the measures wherein we can gradually open up the economy without shifting the country to a modified GCQ [general community quarantine],” Lopez said in a mix of English and Filipino.

“We all know that majority of our provinces are now under MGCQ, and only a few, including the National Capital Region, is under GCQ,” he added.

For March, only Metro Manila and nine areas remain under the GCQ status of the government, while the rest of the country stays under modified

GCQ. Lopez, as part of the economic team, is pushing for the full reopening of the economy on the argument that extending the quarantine for months may worsen both poverty and unemployment.

Further, the trade chief said he welcomes the arrival of Sinovac doses from China on Sunday, as he pins his hope that President Duterte would now consider easing the quarantine with the vaccination program under way.

“We respect his [the President’s] decision to wait for the vaccines before carrying on with the reopening of the economy,” Lopez said. “The start of the vaccine rollout today, it can only bring heightened optimism to us all.”

Recto reminds big business: Covid vaccine not for profit

By Butch Fernandez @butchfBM

S

ENATE President Pro Tempore Ralph Recto reminded big business on Monday that the Congress-approved Covid Vaccine Act signed into law by President Duterte was intended “not for profit” of pharmaceutical companies.

“The newly signed Covid-19 Vaccination Program Act brings big business to the bakuna drive—not to profit, but to use their massive wealth in vaccinating as many people as fast as possible,” Recto stressed.

At the same time, the senator suggested that with many sectors now enlisted in vaccine procurement, Duterte administration officials concerned “should lead from the front and not from the rear.”

In a news statement, the Senate President pro tempore stressed “the government should match frontliners’ heroism with vaccine offensive.”

“It is said to be the first shot in our nation’s counterattack against the virus,” Recto reminded,

The newly signed Covid-19 Vaccination Program Act brings big business to the bakuna drive—not to profit, but to use their massive wealth in vaccinating as many people as fast as possible.

Senate President Pro Tempore Ralph Recto adding, “That it was given to Dr. Gap Legaspi, ground commander of the biggest Covid-19 hospital, only underscores the moral responsibility of this government to support the continuing heroism of our frontliners with a vaccine offensive.”

Moreover, the senator affirmed the Duterte administration’s duty to broaden the source of the vital vaccine supply, adding: “Hindi lang galing sa

PMFTC named as top employer for 3rd year in a row, equal-salary certified

P

MFTC Inc. was recently recertified as a Top Employer in the Philippines for the third year in a row and has been Equal-Salary certified since 2018 in recognition of the company’s excellence in people practices, ability to meet the needs of a modern work force and for promoting equal pay regardless of gender in the workplace.

PMFTC’s parent company, Philip Morris International (PMI), has been recognized for the past five years as a Global Top Employer and is Equal-Salar y Certified since 2019.

“Last year was a challenging year for all. Yet despite the hurdles, these two prestigious honors continue to validate our steadfast commitment to the principles of equity, integrity, diversity and inclusion. In 2020, we demonstrated that when we come together, we are resilient and focused on delivering the best for our people and our customers,” Andreea Chiriac, PMFTC’s People and Culture director said.

As part of the certification processes, PMFTC was required to demonstrate to independent auditors its commitment to excellent HR processes, equit y, diversity and inclusion through employee interviews, surveys, and documented evidence.

The Top Employer certification is awarded by the Top Employer Institute following a robust assessment conducted by the auditing company Grant Thornton, of the company’s practices in a number of organizational areas, including compensation and employee benefits, career development, working conditions,

and training and development.

The Equal-Salary certification is given by the EQUAL-SALARY Foundation, in recognition of companies that provide equal compensation for men and women. The assessment process is carried out by the independent auditing firm PriceWaterhouseCoopers.

“I am proud that the vetting process for both certifications involved many of our own people, speaking independently about their experiences and views about the company’s working environment. When we look into 2021 and beyond, we are motivated by the appreciation that there is always room for improvement and growth and we are resolute in our mission to continuously challenge ourselves to provide a unique and nurturing place to work, where our strong practices evolve even further and where we thrive as an inclusive organization which embraces diversity at its core,” Chiriac added.

PMI employs approximately 71,000 people worldwide. The company is committed to delivering a smoke-free future by developing, scientifically substantiating, and responsibly commercializing noncombusted products that are less harmful than continued smoking, with the aim of completely replacing cigarettes as soon as possible.

Since making this announcement in 2016, PMI has made significant progress toward achieving this purpose. PMI’s non-combusted products were available for sale in 64 markets as of December 31, 2020, and represented 24 percent of PMI’s total net revenues in the last year.

BM

isang bansa, pero sa buong mundo. The best vaccines the best human minds had developed.”

Recto, likewise, recalled that the Covid vaccine supply arrived “as we are letting our people go out of their towns freely,” reminding that “our vaccine arsenal should then grow as fast as we are allowing people to move around unrestricted. Without vaccines, the virus will be faster and smarter than us.”

www.businessmirror.com.ph

PSA: Domestic trade posts double-digit dip in Q4 ’20

By Cai U. Ordinario @caiordinario

T

RADE of various commodities within the Philippines continued to post double-digit declines in both value and quantity in the last quarter of 2020, according to the Philippine Statistics Authority (PSA).

Based on the Commodity Flow in the Philippines report, domestic trade contracted 53.5 percent in terms of value and 38.8 percent in terms of quantity.

The total value of goods traded domestically amounted to P82.19 billion in 2020, lower than the P176.84 billion posted in the same period in 2019. For quantity, commodities shipped across the archipelago only reached 3.17 million metric tons last year, a decline from 5.19 MMT in 2019.

“Domestic trade statistics contained in this report pertain to the flow of goods through airports and seaports in the country, whether for government or private use, or commercial purposes. It covers air trade and coastwise trade,” PSA said.

By mode of transport, the total value of traded commodities through water accounted for almost all or 99.96 percent of the total commodities that flow within the country, while the remaining were traded through air.

Data also showed manufactured goods classified chiefly by material topped in terms of the value of traded commodities with P26.72 billion or 32.5-percent share to the total.

This was followed by machinery and transport equipment valued at P24.38 billion or 29.7 percent and food and live animals which amounted to P13.29 billion or 16.2 percent.

Further, PSA data showed that among the regions, Northern Mindanao ranked first with a total value of traded commodities of P29.96 billion or 36.5-percent share to the total in the fourth quarter of 2020.

Central Visayas came in second with traded commodities amounting P23.17 billion or 28.2 percent followed

by Eastern Visayas with P17.54 billion or 21.3 percent of the total.

Meanwhile, in terms of quantity,

commodities and transactions not elsewhere classified topped in terms of quantity of domestic trade in the fourth quarter of 2020 with 0.94 million tons (MT) or a share of 29.6 percent to the total.

This was followed by food and live animals with 0.59 MT or 18.6 percent of the total and manufactured goods classified chiefly by material with 0.57 MT or 17.9 percent.

By region, Central Visayas recorded the highest quantity of traded commodities with 1.3 MT or 41.1- percent share to the total in the fourth quarter of 2020.

This was followed by Northern Mindanao with a quantity of 1.05 million tons or 33 percent of the total and Bicol region with 0.34 million tons or 10.7 percent.

Meanwhile, PSA data showed that the top 3 regions with a favorable or positive trade balance were Northern Mindanao, Eastern Visayas and Central Visayas.

However, the regions with trade deficits were Caraga, the National Capital Region or Metro Manila and Western Visayas.

“The trade balance is the difference between the outflow value and inflow value,” PSA explained.

Data on the inflow and outflow of commodities in the different regions of the country are used to construct inter-regional and inter-industry relation tables.

These serve as bases in the formulation and implementation of various regional development programs like countryside development and port planning.

Goods and/or commodities that are excluded in the compilation of domestic data are goods transported by vessels of the Philippine Navy; fishing ports; and fish and other marine products landed directly from the sea.

Also excluded are logistic goods intended for the vessel and the crew; cadavers; and vessels not carrying any cargo/passenger, wherein the vessel master indicates “Nil Cargo/Passenger” in the coasting manifest or passenger documents.

Celebrating innovation

By Henry J. Schumacher The discussions about vaccination are intense. And that is understandable. Because it’s about a lot. The images of people on breathing machines fighting for their lives are in our bones (definitely in my bones, given my age). To be vaccinated means protection from such a fate. And for some, it is also about material existence, keeping businesses going and people employed. Vaccination is the great bright spot, not least to eventually regain the long-awaited normalcy.

In this situation, however, we do not need to compete over sequences and supposed privileges, but rather to pause first. It’s time to be grateful; it’s time to celebrate innovation!

When the pandemic emerged in all its severity almost a year ago, no one would have dared to hope that they already had a vaccine that was not only thoroughly tested, but was also so effective that it actually gave rise to hope capable of overcoming

the pandemic in record time.

Perhaps gratitude can help to deal with the vaccination in solidarity: to give priority to vaccination to those who are particularly vulnerable because of age because they have a disability, or because for other reasons they are at particular risk. And it also means prioritizing those who give us medical care.

But solidarity also means that people are ready to be vaccinated at all if the necessary vaccination quantities are available. No matter how much every intervention in one’s own body should be based on one’s own decision, in the end the vaccination is also an expression of love for one’s neighbor.

Because the less willingness to vaccinate, the greater the risk that the virus will spread again and endanger people’s lives. That alone is a reason for myself to get vaccinated when it is my turn.

We also have to be grateful that the vaccine manufacturers are reacting to the virus mutations and adapt the active ingredients accordingly. So have Moderna, AstraZeneca , Novavax and Curevac now specifically the development of modified Covid vaccines announced. The first clinical trials with these variants could start in the course of the next few weeks.

With regard to the virus variants, Curevac recently agreed new alliances with both the pharmaceutical company GSK and the British government. Moderna is already working intensively on a modification of its vaccine; so are BioN-

Tech and its US partner Pfizer. The companies said that the development of virus mutations is being closely monitored. They are convinced that the mRNA platform offers great flexibility to develop a new agent if necessary.

Finally, allow me to jump from the great pharma companies to other innovation-driven businesses.

There are plenty new start-ups—or unicorns. These business models are now increasingly valued in billions of US dollars. Where to we find those unicorns that are changing our life? At the end of 2020 there were 276 unicorns in the US, 271 in Asia and 65 in Europe.

But there is no shortage of offspring. Around a dozen aspirants, each already worth hundreds of millions, could break through the billion mark this year. The young animals are called “soonicorns” in industry jargon.

It is obviously getting easier and easier to become a unicorn because more and more money is in the venture capital business. Given the central banks’ global policy of low interest rates, investors are looking for every bit of return. Shares in young technology companies are traded on the stock exchanges at valuations that are partly reminiscent of the times of the dot-com boom in the late 1990s.

In conclusion: let’s celebrate change, let’s be grateful that there are plenty innovators around; let’s be encouraged to become “unicorns”!?!? I look forward to your responses; contact me at hjschumacher59@gmail.com.

BusinessMirror

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ESTABLISHMENT / ADDRESS POSITION

3D ANALYZER INFORMATION TECHNOLOGIES INC. 7-8/f Double Dragon Plaza 255 Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City 1.

FAN, JUNHAO Chinese

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YANG, LI Chinese

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ACCENTURE, INC. 7f Robinsons Cybergate Tower 1 Pioneer St Mandaluyong City 9.

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AMUSETECH BUSINESS OUTSOURCING 2/f Rivergreen Residences 2217 Pedro Gil St. 096, Bgy 880 Santa Ana Manila 10.

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CHINA COMMUNICATIONS SERVICES PHILIPPINES CORPORATION 12/f One/neo Bldg 26th St. Cor 3rd Ave., Bgc Fort Bonifacio Taguig City 28.

CHEN, YUSU Chinese

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XIAO, SHUO Chinese

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30.

GU, LI Chinese

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31.

CHEN, CHAO Chinese

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32.

DING, YANLONG Chinese

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33.

GUO, ZHONGREN Chinese

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34.

JIN, JIANGXIN Chinese

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36.

WANG, BINGXIN Chinese

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37.

LIU, LEI Chinese

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38.

DONG, XUENIAN Chinese

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NAN, LEI Chinese

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NI, YUNPENG Chinese

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CHINESE CUSTOMER SERVICE

139.

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LIU, WEIHONG Chinese

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141.

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45.

LIU, DEZHU Chinese

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96.

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142.

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46.

ZHANG, WEISHUAI Chinese

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97.

ZHANG, YONGHONG Chinese

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143.

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ERICSSON TELECOMMUNICATIONS, INC. 22/f Two/neo Bldg. 3rd Ave. Cor. 28th St. Crescent Parkwest Fort Bonifacio Taguig City 47.

GRANHÄLL, ULF PETER Swedish

HEAD OF BUILD AND OPTIMIZE CU SGPH

FLYING DRAGON NETWORK PHILIPPINES INC. Malate Bayview Mansion 1781 M. Adriatico Street 076, Brgy. 699 Malate Manila

GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City

48.

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120.

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121.

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76.

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WANG, YONGPING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

124.

SUN, LUDA Chinese

CHINESE CUSTOMER SERVICE

79.

WEI, DAIYUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

125.

WANG, XUESEN Chinese

CHINESE CUSTOMER SERVICE

80.

WEN, YANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

126.

WANG, HAIQING Chinese

CHINESE CUSTOMER SERVICE

81.

WU, DANDAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

127.

ZHAO, ZIFENG Chinese

CHINESE CUSTOMER SERVICE

82.

YAN, ZHIKAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

128.

ZHONG, JIANCHAO Chinese

CHINESE CUSTOMER SERVICE

83.

YANG, KUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

84.

YUAN, QIAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

85.

ZENG, LEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

129.

CHEN, BIN Chinese

86.

ZHANG, JIATAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

130.

87.

WYNCESTER WEE HOCK LEONG Malaysian

MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE

FUXINGYING CAIYUN HENTONG, CORP. 7th, 8th, 9th, 10th Floor Eton Ewestpod Chino Roces Avenue Cor. Yakal & Malugay Streets San Antonio Makati City

101.

LIU, CHENGYU Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

102.

NIE, WENQING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

103.

XI, ZHENGHONG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

104.

YUAN, BIN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

INFINI CONSULTANCY GROUP INC. Rm 2a 2/f Ma Daniel Bldg. 470 San Andres Cor. M H Del Pilar Sts. 077, Bgy. 701 Malate Manila 105.

LI, JINFANG Chinese

ADMIN OFFICER - MANDARIN TRANSLATOR

106.

XU, TIANYUAN Chinese

MANDARIN TRANSLATOR

ITECHNO SPECIALIST INC. 7/f Aseana I Bldg. Bradco Avenue Aseana Business Park Tambo Parañaque City

NSPH INC. U-202 2/f Riverbend Bldg. 1869 P. Domingo St. Kasilawan Makati City 154.

ITAMOCHI, YUTAKA Japanese

MANAGER

PSA PHILIPPINES CONSULTANCY INC. Unit 1408 14/f The Pearlbank Centre 146 Valero St. Bel-air Makati City 155.

WYATT, GREGORY RUSSELL American

COUNTRY MANAGER

107.

LI, YUEHUA Chinese

CHINESE IT SUPPORT SPECIALIST

108.

LUO, JINGXIAN Chinese

CHINESE IT SUPPORT SPECIALIST

SHINHAN BANK - MANILA BRANCH 21 Flr. Units 1 & 2 Rcbc Savings Bank Corporate Ctr. (rsbcc) Fort Bonifacio Taguig City

109.

TIAN, YAOCHAO Chinese

CHINESE IT SUPPORT SPECIALIST

156.

110.

WANG, XI Chinese

CHINESE IT SUPPORT SPECIALIST

111.

WEI, YAKUN Chinese

CHINESE IT SUPPORT SPECIALIST

TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre Adb Avenue, Ortigas Center San Antonio Pasig City

112.

YOU, ZHONGNING Chinese

CHINESE IT SUPPORT SPECIALIST

157.

113.

ZENG, HONGRUI Chinese

CHINESE IT SUPPORT SPECIALIST

114.

ZHONG, MINGJUN Chinese

CHINESE IT SUPPORT SPECIALIST

TRIVES TECHNOLOGY CORPORATION Tower 4 Bayport West Naia Garden Residence, Naia Road Tambo Parañaque City

115.

ZHOU, YUANBING Chinese

CHINESE IT SUPPORT SPECIALIST

158.

BIAN, ZHAOPENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

159.

CHEN, YUEHUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

160.

DONG, WENJUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

161.

DU, GANGREN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

162.

GAO, WENFU Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

163.

HUANG, ZHENGCHAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

164.

LI, LIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

165.

LI, WENBIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

166.

LIANG, HUANGSHAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

167.

SHI, LEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

168.

WANG, ZHEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

169.

LEE SHENG KOK Malaysian

CUSTOMER SERVICE REPRESENTATIVE

MAKILALA MINING COMPANY, INC. U-3b 3/f Corinthian Plaza 121 Paseo De Roxas San Lorenzo Makati City 116.

HUME, PETER DONALD Australian

COUNTRY OPERATIONS DIRECTOR

NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg. Aseana Avenue, Entertainment City Tambo Parañaque City

JANG, SHINTAEK South Korean

KEMESSIEI, CHARLES DESIRE Ivorian

COUNTRY HEAD

FRENCH OPERATIONS CSR

VAN GOGH BUSINESS PROCESS OUTSOURCING INC. 5th To 8th Flr. Sm Southmall Tower 2 Alabang Zapote Rd. Almanza Uno Las Piñas City 170.

YI, DANDAN Chinese

INFORMATION SECURITY ANALYST

171.

ZHANG, JIE Chinese

INFORMATION SECURITY ANALYST

172.

CHEN, ZHUO Chinese

IT TECHNICAL MANDARIN

173.

WANG, JILI Chinese

IT TECHNICAL MANDARIN

CHINESE CUSTOMER SERVICE REPRESENTATIVE

174.

YOU, TINGFU Chinese

IT TECHNICAL MANDARIN

DAN, JUNCHAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

175.

ZENG, QINGXIN Chinese

IT TECHNICAL MANDARIN

131.

DENI Indonesian

CHINESE CUSTOMER SERVICE REPRESENTATIVE

132.

FU, SHUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

133.

HU, LIHUA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

HUANG, HEQING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

NOCMAKATI, INC. 8,9,10,11,12,14,15,16,17,18 & 19 Floors Century Diamond Center Kalayaan Ave. Cor. Salamanca St. Poblacion Makati City

88.

CHEN, JUNYOU Chinese

CHINESE CUSTOMER SERVICE

134.

MANDARIN SPEAKING PROJECT SUPERVISOR

89.

CHEN, MINGZHI Chinese

CHINESE CUSTOMER SERVICE

135.

HUANG, ZHENYUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

XU, QIANG Chinese

MANDARIN SPEAKING PROJECT SUPERVISOR

90.

HUANG, QIANG Chinese

CHINESE CUSTOMER SERVICE

136.

LI, HAIQUAN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

42.

SONG, CHENGBO Chinese

MARKETING ASSISTANT

91.

LI, XIAOSHAN Chinese

CHINESE CUSTOMER SERVICE

137.

LI, BO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

43.

ZHANG, SHUN Chinese

MARKETING MANAGER

92.

LIU, JIE Chinese

CHINESE CUSTOMER SERVICE

138.

LI, XIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

*Date Generated: Mar 1, 2021 Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

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

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A6 Tuesday, March 2, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The nighttime economy

T

he lockdowns that were imposed across the country in March 2020 or one year ago to contain the Covid-19 pandemic completely disrupted the country’s economy.

The Philippines now has one of the region’s deepest pandemic-induced economic slumps, with our recovery expected to be weaker than our Asean neighbors.

While we may not be out of the woods yet until the government’s vaccination program goes full swing, there’s a need to further ease the tough restrictions that has left many businesses counting losses, if not closing altogether.

Heavily affected, in particular, were the businesses that used to cash in on the country’s booming nighttime economy.

Cabinet Secretary Karlo Nograles said the country’s economic managers will need to come up with ways to further reopen the economy even after President Duterte turned down the recommendation of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) to ease quarantine restrictions starting March, to allow more businesses to reopen and more people to return to work.

“Within the framework of the GCQ, there are ways and means for us to safely reopen the economy some more,” Nograles said in a press briefing, noting the IATF had given the Department of Trade and Industry and other members of the economic team the leeway to come up with guidelines on what economic activities could be allowed in GCQ areas.

Perhaps the government should look into doing away with curfews altogether to help boost the country’s nighttime economy.

The curfew in most Metro Manila cities is from midnight to 4 a.m. In other places, like Tagaytay, for instance, the curfew hours are longer.

But, really, why impose curfews at all? Why foreclose that option of having a nighttime consumer population to diminish and disperse daytime crowds and also help businesses?

For as long as people practice social distancing, wear masks and face shields, who cares if they go out at night or during the day? The virus is just as virulent any time of the day.

The reduction in economic activity due to curfew restrictions has hurt many workers and their families in the large service sector of the economy. Scrapping curfews would allow more businesses to survive, perhaps even thrive.

With precautions in place, like temperature checks, contact tracing, and rearranged workspaces to accommodate social distancing requirements, perhaps companies could even reintroduce a significant portion of their work force in offices and factories, doing rotational shifts during both day and night. As a result, more workers can begin a larger scale return to work.

Of course, various industries work in distinct ways and have unique requirements. For instance, the BPO industry—the largest private employer in the country with about 1.3 million employees—already has most of its workers doing night shifts.

This pandemic calls for creative solutions in order to bring staff back into physical operations.

Perhaps a 24/7 business culture, or at least extended hours of operations, can allow businesses to recover what they lost during the hard lockdowns. Of course, this goes hand in hand with providing essential things like transport late at night and security.

A thriving nighttime scene does not just mean bars operating till the wee hours of the morning.

It can mean other forms of social and cultural entertainment, strategically planned and regulated, like going out to public parks, plazas, gardens and other green spaces for people who just want quiet, leisure time to de-stress during the cooler part of the 24-hour day.

It can mean grocery shopping and buying of other necessities.

It can mean nighttime tourism activities and music venues, 24-hour gyms, late-hour coffee shops, restaurants, theaters, bookstores and other businesses, as well as artistic and creative services.

The main difference between GCQ and MGCQ is in the number of people allowed in mass gatherings in public places and public utility vehicles. Curfews are not really necessary restrictions. Again, for as long as people follow basic public health protocols, it does not really matter what time of the day or night they go out.

With the right policies and proper collaboration between the government and stakeholders, more businesses can reopen and boost the nighttime economies of our cities for the benefit of all stakeholders, providing jobs and tax revenues that are much needed to recover from the pandemic.

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F

inding the pivotal balance between containing the spread of Covid-19 and allowing more sectors such as travel and tourism to reopen is the key to recovery after the 9.5-percent gross domestic product slump in 2020.

The closure of Makati Shangri-La Hotel, one of the largest hotels in the Makati central business district, and the massive lay-offs implemented by two major airlines speak volumes about the suffering of the tourism sector. Millions have lost their jobs as thousands of business establishments either closed or operated at reduced capacity, as the government restricted the movement of the people in its bid to contain the Covid-19 transmission.

While the tourism sector is generally considered a leisure activity, it actually represents the dynamism of an economy. Business travelers who explore investment opportunities usually stay in five-star hotels, while industry associations hold conferences and exhibits at hotel ballrooms or convention centers. Leisure travelers are also consumers who buy local goods and spend for services in communities, thereby creating more

opportunities in the provinces. Bohol, for example, became a first-class province with the help of tourism.

I just hope that more Covid-19 vaccines will arrive soon in the country so that we can gradually allow tourism establishments to welcome more visitors—leisure travelers and investors alike.

The good news is that more choices of vaccines will be made available soon. The US Food and Drug Administration (FDA) said the one-dose vaccine of pharmaceutical company Johnson & Johnson’s was effective and safe in trials. The J&J vaccine, which can be stored at normal refrigeration temperatures for at least three months, provides strong protection against severe disease and death from Covid-19 and may reduce the spread of the virus. It showed an 86-percent efficacy against severe forms of Covid-19 in the US and 82 percent against severe disease in

Lourdes M. Fernandez

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OUTSIDE THE BOX

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South Africa, where new variants of the virus emerged.

This will be a great addition to the portfolio of effective vaccines available to us, including those developed

by Pfizer/BioNTech, AstraZeneca/ Oxford, Moderna, Novavax, Sinopharm, Sinovac Biotech and Gamaleya Institute.

No less than President Duterte expressed the urgency to make these vaccines available to us, so that we can have the confidence to ease the quarantine restrictions in the coming months.

An effective vaccination program, coupled with the already established health protocols, will help tourism destinations recover from the crisis.

Boracay, for example, reported zero virus transmission among guests over the past two months, despite accepting 15,000 domestic tourists in December 2020 and 12,000 visitors in January 2021.

The travel sector, meanwhile, expects 2021 to be a much tougher year than previously thought as many countries have yet to re-open their borders. The International Air Transport Association recommends the use of a travel pass as one way of mitigating the risk of importing the virus.

Such travel pass will help passengers manage their visits in line with government requirements for Covid-19 tests, or vaccines.

Data from the IATA showed that global passenger demand in terms

of revenue passenger kilometers, or RPKs, declined 65.9 percent in 2020, the sharpest traffic drop in aviation history. International passenger demand fell 75.6 percent, while domestic demand decreased 48.8 percent compared to 2019.

In the Asia-Pacific regions, airline passenger traffic plunged 80.3 percent in 2020 compared to 2019.

I just hope that with the arrival of Covid-19 vaccines, the travel and tourism sector will shift from survival mode to recovery and expansion.

It appears that the key to this goal is the application of health credentials, such as vaccination and testing, and using digital technologies in sharing health data with authorities.

The Department of Tourism already expressed willingness to streamline travel procedures and requirements imposed by local government units, so that travel will be more convenient and safer. I agree with Tourism Secretary Bernadette Romulo-Puyat, who believes the simplification of entry requirements will make traveling in the new normal more convenient, while protecting the public’s safety and well-being.

Among the many and current travel requirements are medical certificates, travel pass, swab tests, age limits and quarantine. With the vaccination program in place, a proof of inoculation may be enough credential for a traveler. This is why it is important that we implement See “Villar,” A7

Governments: Protecting you and your money

T. Anthony C. Cabangon

BusinessMirror is published daily by the Philippine Business Daily Mirror

MEMBER OF

Tourism to support recovery

A

bout 6,000 years ago, humans were starting to use gold for decorative purposes. The metal can be melted over a wood fire. You can pound it so thin that it becomes almost transparent.

The other quality of gold that has kept it a part of human civilization is that it virtually never “wears out.”

Gold does not rust or oxidize much and it is difficult to melt it with acids.

As early as 2600 B.C. Egyptian hieroglyphs talk about gold, and around the 14th century B.C. King Tushratta of Mitanni—a kingdom covering modern day Iraq, Syria, and southern Turkey—claimed that gold was more plentiful than dirt in Egypt.

About the same time of King Tushratta gold was beginning to be seen as something of value and not just jewelry. Incidentally, today 50 percent of all gold is used in jewelry, 40 percent for investments, and only

10 percent for industrial purposes.

The first coins were introduced in Lydia—now Western Turkey—in 700 B.C. and were minted of about 50 percent gold and 50 percent silver. About 150 years later the Lydian King Croesus circulated the first gold coin with a standardized purity used for money.

Throughout the Roman Empire the general public primarily used various silver-based coins. However, for trade purposes, merchants and governments relied on gold. Even centuries later paper money—or leather as in China—was actually a promissory note like “I owe you 10 pieces of gold.”

The trade value of a specific quality of gold remained constant for centuries. Sir Isaac Newton, as master of the UK Mint, set the gold price at L3.17s.10d. per troy ounce in 1717, and it remained effectively the same for 200 years. The convertibility of gold to the US dollar in 1850 was $18.93 per troy ounce. In 1918 it was $18.99.

Gold was the international currency standard. A man in 1900 could take an ounce of gold coin and have a suit of clothes made in New York, London, Berlin, Vienna, or Milan using the same “money” with virtually the same value. That all changed and don’t even mention the US Federal Reserve because that was not the cause, regardless of what the conspiracy theorists claim.

A person can take a few gold coins, put them in a small pouch in the crack of the “back” and use that money any place on earth. You can still do that with a US dollar but not with the guarantee of the same value.

On April 5, 1933, US President Franklin D. Roosevelt signed Executive Order 6102 “forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States.” Note that

what the government called “hoarding,” real people called it saving for a rainy day outside the prying eyes and greedy fingers of government.

The government replaced a person’s gold with paper at $26.33 per ounce.

In 1974, Americans were allowed to own gold again at the official government price of $154 per ounce.

The Reserve Bank of India (RBI) effectively banned all cryptocurrency transactions in 2018, “to protect the public from fraud” that happened after India banned 80 percent of its currency “to protect the people from counterfeit money.”

January 29, 2021: “New Bill to Ban All Cryptocurrencies Except Official Digital Currency By RBI.” China has strict controls on crypto mining and trading because it is “extremely harmful to the environment.” Egypt’s primary Islamic legislator has issued a religious decree classifying commercial transactions in bitcoin as haram.

Always remember: It’s “money” until the government says it isn’t.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Opinion BusinessMirror

www.businessmirror.com.ph

Tuesday, March 2, 2021 A7

Start saying Mayor Vico: Anti-corruption champion ‘kaka-computer mo ’yan’ Manny F. Dooc

TELLTALES

Lyca Balita

Onwards

T

he condescending phrase kaka-computer mo ’yan, is not the life-changing apprehension of wisdom that we think it is. If anything, the line is only holding back our youth. We say that the real world is just as real as the online world, but this also means the online world is also just as real as the real world.

I used to play a computer game called League of Legends, where I met John Yamashita, a 21-yearold Filipino gamer. I knew he was among the top players in the country, so I once asked him if he earned from playing. To my surprise, the most he won in one game, which usually lasts around 30 minutes, was P500,000 from a tournament.

Half a million pesos for half an hour playing a computer game. Without huge tournaments, he earned around P65,000 monthly. Kakacomputer niya ’yan, indeed.

As for his studies? “I’m doing pretty well both academically and gaming,” he said, and it’s true: he studied in a science high school and is currently studying in one of the top universities in the country (hint: a maroon university in Diliman).

Maybe playing computer games is not the evil that we think it is.

Did you know that a 9-year-old boy is the highest paid YouTuber in 2020, according to Forbes? How high is “highest paid”? $29.5 million or around P1.4 billion in a year, for a 9-year-old. His name is Ryan Kaji, and he began his YouTube career by reviewing kids’ toys when he was three years old.

An anonymous 21-year-old is among the most popular online names today. He goes by the name Dream, and he has never revealed his name nor his face, yet he is rumored to have earned at least $3 million or over P100 million in 2020 from YouTube. He is known for uploading videos of himself playing the computer game Minecraft. It seems that online careers do not have to come at the expense of privacy.

The top earning DOTA 2 player, Johan “N0tail” Sundstein, has earned around $7 million or over P341 million from tournaments, according to Felix McGeehan.

Prize pools for games such as Mobile Legends and Counter-Strike: Global Offensive (CS GO) go from hundreds of thousands to millions of US dollars.

The insane earnings of the online stars listed above are not limited to foreigners, as the online scene in the Philippines is just as successful. For instance, YouTube has made multimillionaires out of young Filipino creators, such as the familiar Mimiyuuuh, CongTV, and the Mobile Legends streamer Choox TV. These are not isolated cases. Even my family driver Jhun Barallas has a monetized YouTube channel. The aforementioned John Yamashita is a regular 21-year-old student, yet he earns hundreds of thousands of pesos from playing a computer game.

Gurus often talk about how technology is the future, and it is easy to agree with them in theory.

“Yes, that’s true…have you heard about A.I.? Elon Musk? Drones?

Everything is automated now!”

Then we go home and apprehend our own youth for spending time on their gadgets.

Technology has opened up so many new career paths that align with different passions. YouTube and Tiktok can turn practically any passion into a career — beauty, gaming, gardening, fashion, entrepreneurship, or even math tutorials, among others. Facebook videos and livestreams can be monetized.

Young gamers earn by livestreaming on Twitch, writers publish on

As the saying goes, “Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.” Kaka-computer mo ‘yan does not have to be said with disappointment or disdain. It can be a statement said with pride, a grin, and a pat on the back.

Wattpad, Dreame, and Medium, while visual artists thrive on practically every social-media platform.

Indeed, technology is the future.

Of course, this is not to say that traditional paths should be cast aside. The traditional careers such as law, nursing, medicine, engineering, and education are absolutely essential to society and have been around for centuries. They are not going away anytime soon. I, for one, am taking law. But it is important to realize that there are new paths available in this digital age, and they should be considered by those who guide the youth today.

Some of us have skills and talents meant for this online world. “ Technology is the future.”

When we accept that this statement means that there are new career paths due to technology, we place our youth a step closer to the present and the future. Careers change with the times. For instance, monks used to copy manuscripts by hand, then woodblock printing came around, followed by the letterpress, digital press, onwards, then today, publishing is done mostly online through e-books and web sites. This article is published online on a web site designed by web site designers whose careers did not exist back when monks copied manuscripts in scriptoriums. The Internet made web site design a thing. The same goes with other industries: sports now includes e-sports, teaching is done in online universities, and business can be done online, to name a few.

With this, it is not scandalous to predict that the next Pinoy Pride will come from esports. The next celebrities will be from Tiktok, Instagram, and YouTube.

The next revered authors will be published online. Wouldn’t it be great if these success stories were our own youth?

Of course, technology should not be abused. Too much is never good, especially considering the dangers of blue light, sitting too long, and losing family time. But consider: anti-blue light glasses, posture-improving sitting devices, and playing the online games as a family. Perhaps instead of apprehending our youth when they use their gadgets, we could guide and assist them so their use of technology is healthy and productive. Do they really need to get straight A’s in school if they are brimming or even overflowing with talent in gaming, programming, writing, or voice acting? As the saying goes, “Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.” Kaka-computer mo ’yan does not have to be said with disappointment or disdain. It can be a statement said with pride, a grin, and a pat on the back.

For feedback, send an e-mail to lyca.balita@ gmail.com

C

ountries around the world are ranked annually by Transparency International based on their perceived levels of public sector corruption known as the Corruption Perception Index (CPI). This is based on expert assessments and surveys conducted by the Berlin-based organization involving 180 countries and territories in 2020. On a scale of zero to 100, where zero means highly corrupt, the Philippines placed 115th with a score of 34. This means that our country continues to fail to address the issue of corruption, which has bogged down the Philippines since the birth of our nation.

In the 2020 CPI, the top 5 countries that were ranked the least corrupt are: Denmark, Finland, New Zealand, Sweden and Singapore.

Denmark scored 88 while Singapore got 85. In the Asean, aside from Singapore, our neighbors Brunei Darussalam, Malaysia, Indonesia, Thailand and Vietnam, have better scores despite the fact that eliminating corruption, together with the illegal drugs menace, is a top priority of the Duterte administration. But it seems that the battle against corruption is not lost and Sen. Ping Lacson has captured it all when he said: “He’s a bright beacon of the land… At least we have a good reason not to give up hope for our beloved country.”

Senator Lacson was referring to the indefatigable Hizzoner of Pasig City, Mayor Vico Sotto, who was recently recognized by the US State Department as one of the 12 maiden recipients of its International Anti-Corruption Champions Award. The prestigious award seeks to honor exceptional “individuals who have demonstrated leadership, courage and impact in preventing,

exposing and combating corruption.” The distinction cited Mayor Vico “as a standard bearer for a new generation of Philippine politicians who prioritize anti-corruption and transparency initiatives in their election campaigns and in office.”

Mayor Vico’s victory over a wellentrenched political dynasty in his city, which has lorded local politics for almost three decades, has electrified our election-crazy population. After assuming into office, he has undertaken measures to cleanse transactions involving his city of bribery and kickbacks. He has set up 24/7 public information hotline to receive and resolve complaints from the public. He has introduced full transparency in dealing with the public and engaged stakeholders, including the civil society, in critical functions like budgeting and policymaking. He has institutionalized public consultation as an integral component in the decision-making process. Mayor Vico, as an alderman, had introduced a freedom of information ordinance that allowed and facilitated the public and the media

to obtain public documents. Newly minted US State Secretary Antony Blinken who helped conceive this award under the Biden Administration, in announcing the awards, has said: “I commend the dedication of these 12 brave leaders to these same ideals. They inspire us and so many of their counterparts pursuing these ideals around the world.”

Mayor Vico is a fresh, young voice with a novel and honest approach to governance. He’s a rarity among our politicians, a sharp departure from the “trapos’’ which breed in our political swamp. While elective public office runs in his blood and politics is in Mayor Vico’s DNA, he is not your run-of-the-mill politician. He exemplifies political courage, integrity and dedication to work. After being notified of the award, Mayor Vico reacted by stating: “If we want better long-term governance, we need to fight corruption. We should denormalize it, get it out of our culture.” What a firm resolve from a political neophyte who just joined politics five years ago by winning a seat at the City council of Pasig City in 2016 at the age of 27. In the last election, he trounced the incumbent mayor who belonged to the powerful Eusebio clan in the city, which has not tasted any electoral loss in all its years in Pasig politics. However, Mayor Vico’s political pedigree cannot be taken lightly even by political heavyweights. His forebears included two former distinguished senators, Don Filemon Sotto and Don Vicente Sotto, both known for their fierce and militant opposition to the American rule in the Philippines. Don Vicente suffered persecution and imprisonment and even went on exile and became a political refugee in Hong Kong for demanding immediate and complete independence from the US. The incum-

bent Senate President, Tito Sotto, is his uncle as everyone knows. This is not to mention that his parents are both bywords in the movie and entertainment world—Vic Sotto and Coney Reyes. The respected erstwhile couple commands legions of loyal following, which has boosted Mayor Vico’s mass support. But Mayor Vico is one who will not depend on the cult of personality, and win votes by basking on the reflected glory of Vic and Coney. By running as an independent candidate when he first sought elective public office, and later joining a small, ragtag political party, the Aksyon Demokratiko, when he ran for mayor, Mayor Vico betrayed his streak of independence. By challenging the political gods in his city, Mayor Vico has shown political courage, which is very much in short supply in Philippine politics. Mayor Vico is only 31 years old. He has a bright political future which is still ahead of him.

His political odyssey has just begun and who knows what lies in store ahead. The US State Department did not err in installing him as our anti-corruption champion. No one can underestimate the critical importance of eradicating corruption in the economic life of our country.

There is a higher correlation between a higher CPI (least corrupt) and higher economic growth. It has also been observed that there is a higher rate of foreign investments in countries with favorable CPI. For as long as Mayor Vico remains true to his vision and continues to champion anti-corruption initiatives in his home city and hopefully around the country, the Filipino people will not be wrong to entrust him with a higher and more responsible elective position in our government. Mabuhay and congratulations, Mayor Vico.

Utilization of excess tax credits against tax assessments Fulvio D. Dawilan

Tax Law for Business

I

T is not unusual for taxpayers to incur excess input tax credits and excess income tax payments in a taxable period. Excess input tax ensues when the value-added taxes paid or incurred on inputs exceed the value-added tax liability dues on outputs. And this is due to a number of reasons, such as the entitlement to VAT zero-rating of sales by the seller or simply because substantial purchases are made in a period compared to sales made in the same period. For the excess income tax scenario, this normally happens due to the withholding tax requirements imposed on the customer, where taxes withheld by the customers exceed the ultimate income tax liability for the seller. This also happens when the quarterly income tax payments exceed the annualized income tax due.

In both cases, the law allows the unutilized tax to be carried over and credited against the taxes due in the succeeding periods. Although there are other available options to the taxpayer, the carry-over for utilization in the succeeding periods is more convenient, especially for taxpayers who don’t want to avail themselves of the refund option and foresees taxes to be due in the future.

A question arises when an examination is conducted by the BIR and a taxpayer is found to have deficiency taxes. May the excess credits be applied as credit against the deficiency tax assessment?

The tendency of the examiners is to exclude the excess credit carriedover to the succeeding year from the available tax credits on the ground that the excess credit has already been carried-over to the succeeding taxable periods. In essence, in case there are upward adjustments in the tax due for the year under au-

Villar. . .

Continued from A6

the vaccination program properly as soon as possible.

Evidence from Israel, which is

Court decisions had already established that unutilized input taxes as well as unutilized creditable withholding taxes and quarterly income tax payments may be applied against deficiency taxes due, regardless of the carryover to the succeeding period.

Despite this, almost all the assessment cases involving taxpayers with excess carry-overs include the same finding.

dit, the supposed tax credits are not allowed to be utilized or to reduce the deficiency tax assessment, since the same is already forwarded to the succeeding taxable periods. In other words, the tax credits may only be utilized against the taxes due in the period to which the excess credit was forwarded to. The exclusion is presumably to recapture the tax benefit realized by the taxpayer in carrying the amount to the succeeding year— the examiners would sometimes use that as a reason to justify the noninclusion of the credit.

A number of cases had been decided by the Tax Court on this issue.

In those cases, the Court consistently ruled in favor of the taxpayer. According to the Court, the disallowance is not proper since any tax benefit derived from the carry-over redounds to the succeeding year, which is not the period covered by the assessment. Since the tax benefit will be in the succeeding year,

at most, the taxpayer may only be assessed in the said succeeding year.

While the explanation of the Court is very limited, what it says is that it is inappropriate to deduct the tax credit carried-over to the succeeding period as part of the available tax credits of the taxpayer that may be utilized in the year under audit. As such, if there are findings for deficiency taxes, the tax carry-over may be utilized against such deficiency tax liability.

Let me add that unutilized input taxes as well as unutilized creditable withholding taxes and excess quarterly income tax payments form part of the assets of a taxpayer. In fact, these are advance tax payments made by the taxpayer. The input taxes are payments made on purchases which are supposed to be utilized as credits against the same taxes due on the sales. On the other hand, creditable withholding taxes are advance income tax payments made by the payor of the income in behalf of the income recipient. Similarly, the quarterly income tax payments are advance payments made quarterly for the annual income taxes due.

Being advance tax payments, the same should be utilized at the very first instance that the taxpayer is found to be liable for the same type of

nearing 50-percent inoculation rate among its 9 million people, showed that the risk of illness from Covid-19 dropped 95.8 percent among those who received both shots of Pfizer vaccine. As a result, Israel reopened most of its economy, becoming the

first country in the world to revive itself with the help of vaccines.

While the Philippines is a much bigger country than Israel, I am confident that with the government’s coordinated approach with the private sector, we can also achieve herd im-

tax. It shouldn’t matter therefore that the excess credit was already carriedover to the succeeding period. Had the tax due been determined to be as the resulting taxes due upon examination, that advance tax payment would have been utilized against the whole taxes due. It makes no difference if the additional taxes are determined only upon examination. In fact, the law also does not distinguish the taxes against which the credit may be applied. The advance taxpayment may be used against the tax that is determined voluntarily by the taxpayer himself or taxes due that are determined involuntarily upon examination by the tax authority. Hence, the same could be utilized against deficiency taxes for the same type of tax.

To summarize, Court decisions had already established that unutilized input taxes as well as unutilized creditable withholding taxes and quarterly income tax payments may be applied against deficiency taxes due, regardless of the carry-over to the succeeding period. Despite this, almost all the assessment cases involving taxpayers with excess carryovers include the same finding. I hope that future examinations give due consideration to this established rule and allow the utilization of excess tax credits against deficiency tax assessments.

The author is the Managing Partner of DuBaladad and Associates Law Offices (BDB Law), a member-firm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at fulvio.dawilan@ bdblaw.com.ph or call 8403-2001 loc 310.

munity with the help of vaccines in the coming months, and eventually fully reopen the travel and tourism sector and the rest of the economy.

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

A8 Tuesday, March 2, 2021

SARA DUTERTE REPEATS SHE’S NOT HEEDING CALLS TO RUN IN 2022

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

D

AVAO CITY—This city’s mayor, Sara Duterte-Carpio, reiterated her message rejecting calls to make her presidential bid in next year’s national and Presidential elections.

In a terse video message posted on MondayattheInternetchatgroupofDavao City reporters, the Presidential daughter thanked those groups egging her to run but suggested that“instead, let us use that power and resources” to help fellow Filipinos in dire need of food and jobs.

“Once again I am grateful to all my friends who believe in me and who relentlessly express their call for me to run For President,” she opened up in a video footage lasting one minute and 12 seconds.

While this gave her “comfort of having friends”and supporters who believed

she could fit the rigors of a President, she admitted she also felt it in her heart.

But she stood pat on her previous rejection of those calls to consider a bid for Malacanang in the 2022 elections saying,“let us use instead use our power and resources to give food to those who are short on money and [who are] hungry and create jobs who lost their livelihood”.

She added, “I believe that even if we will not be running for President, in our show of strength and unity we are able to uplift many Filipino families in need,” she added. “Because we all agree that we shall be the change that we want to be in the world, so let us show the world how it is appropriately done.”

She still did not mention why she would not be running for President, insisting on silence “so that we will not hurt the feeling of others”. She did not elaborate in that statement she made last week.

Recall order removing extra pay for working in 3 holidays, govt told

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ALACAÑANG was asked to reconsider a Palace order effectively slashing workers’ year-end take-home pay in adjusting the traditional Christmas-New Year holiday schedule.

Senator Risa Hontiveros said on Monday the Palace directive reclassifying November 2, December 24 and 31 as “special working holidays,” would effectively “cut the take-home pay of thousands of workers.”

President Duterte on Friday had issued Proclamation 1107, which revised the list of holidays for 2021 Under the proclamation, the classification of All Soul’s Day (Nov. 2), Christmas Eve (Dec. 24), and Last Day of the Year (Dec. 31) was changed from a special nonworking holiday to special working holiday. This meant workers who render duty on these days will not get any additional compensation.

Hontiveros sug gested that Malacañang “withdraw and reverse” Proclamation No. 1107.

She lamented that the Palace order was “nothing short of disastrous for workers already dealing with a pandemic and an economic crisis.”

Even as she affirmed the Duterte government’s need to increase economic productivity, Hontiveros bemoaned that demoting special Filipino holidays to special working holidays will “only burden and demoralize Filipino workers,” many of whom are already underpaid and struggling with high prices of goods.

“This is rubbing salt on the

people’s wounds,” the senator rued, asking aloud in Filipino, “why deprive workers of a chance to earn extra—now that life is so hard?”

She pointed out that Christmas Eve, New Year’s Eve, along with All Souls’ Day are some of the most important holidays for Filipino families throughout the year. “What is the motivation to suddenly make them working holidays? There are other special non-working holidays that can be touched, but Christmas Eve at New Year’s Eve? It should be understood that these dates are non-negotiable,” she stressed.

The senator said that due to the proclamation, people who will go to work during All Soul’s Day, Christmas Eve and New Year’s Eve this year will no longer be entitled to the additional holiday pay of 30 percent of their daily basic wage, among other amenities, granted to workers during special nonworking holidays.

Hontiveros reminded the government that most of those at work during holidays are frontliners and essential staff, “like medical workers, and our workers in hotels, restaurants, groceries, and malls many of whom earn minimum wage. It’s bad enough they can’t be with their families on these special days, and then we still have to remove their hoped-for extra compensation?” she asked.

The lower pay during those holidays might even be a disincentive and discourage workers from reporting for duty, thus lowering economic productivity instead of increasing it. Butch Fernandez

Manufacturing…

The Philippine manufacturing sector also fared well compared to its counterparts in the region. IHS Markit said among the seven countries in Southeast Asia they monitor for PMI, the Philippines recorded the second best performance in February.

Singapore took the lead with a PMI of 55.2 during the month. Next to the Philippines’s 52.5 is Vietnam’s 51.6 and Indonesia’s 50.9.

Thailand and Malaysia fell into contraction territory to record a 47.2 and 47.7 PMI, respectively. Myanmar performed the worst during the month with a PMI of 27.7.

The Philippines’s PMI is also above the 49.7 average PMI of Asean for February.

This growth of the sector also looks like it’s trickling down to the grassroots of the manufacturing industry, as reports of layoffs

Continued from A1

are starting to decline.

“Output and new order growth persisted, while an acceleration in preproduction inventories suggests a commitment towards greater production in the months ahead. In addition, the rate of job shedding eased to the softest in 12 months,” IHS Markit Economist Shreeya Patel.

Patel, however, warned that the virus still continues to pose a large threat to material shortages and transportation delays as a result of pandemic restrictions.

“For now, controlling the Covid-19 pandemic remains at the heart of the Philippines’ agenda, and whilst vaccines have been secured, delivery delays have severely hindered efforts to vaccinate the nation,” Patel said.

Amid Ledac omission, House sees Cha-cha move approval

D

By Jovee Marie N. dela Cruz

@joveemarie

ESPITE the non-inclusion of economic Charter change on the Legislative-Executive Development Advisory Council (Ledac) priority list and senators still appearing cool to the proposal, Speaker Lord Allan Velasco said the initiative liberalizing the country’s economy is not “dead in the water.”

In an interview, Velasco said the House of Representatives will pass the Resolution of Both Houses 2 by May of this year.

“Not naman really dead in the water, but we’re just really pushing for Charter Change mainly because of the economic provisions,” he said “But I have to talk to [House Committee on Constitutional amendments] chair [Alfredo] Garbin first. But actually, I see finishing the charter change (Cha-Cha) before the end of May before we go on break [at least in the House],” Velasco said.

Finance Secretary Carlos G. Dominguez III earlier said Ledac has already agreed to prioritize at least 14 measures that need to be passed before the onset of the election period next year.

The economic Charter change

and the proposed P420-billion Bayanihan 3 were not included in the priority list.

The Ledac serves as a consultative and advisory body to the President as the head of the national economic and planning agency for further consultations and advice on certain programs and policies essential to the realization of the goals of the national economy. It also serves as a venue to facilitate high-level policy discussions on vital issues and concerns affecting national development.

Asked for comment, Deputy Speaker Rufus Rodriguez said the Congress can still pass the economic Chacha.

“This is a mere oversight. Once the House approves the economic amendments, we will send them immediately to the Senate for their

action,” he added.

Vote separately

In a separate statement, Rodriguez assured senators that the Senate and the House will vote separately and not jointly on the proposed economic Chacha.

He made the assurance in the wake of concerns aired by some senators, including constitutional amendments committee chairman Sen. Francis Pangilinan, and House members on the voting issue.

The House is expected to resume consideration of economic Cha-cha this week and to vote on it before Congress goes on its Holy Week break on March 27.

“Although the Constitution is silent on the voting issue, we are making the commitment that we will vote separately on Cha-cha, with each chamber obtaining the constitutionally required three-fourths vote of all its members to endorse any amendment,” Rodriguez said.

“In fact, separate voting is what is contained in Resolution of Both Houses No. 2 of Speaker Lord Allan Velasco, principal proponent of economic Charter amendments,” he said.

He quoted the pertinent part of the resolution: “Resolved by the Senate and the House of Representatives, by a vote of three-fourths of all its members, with each House voting separately, and pursuant to Article XVII of the Constitution, to propose amendments to Articles XII, XIV and XVI of the 1987 Constitution of the Republic of the Philippines…”

The resolution seeks to empower Congress to change restrictive eco-

nomic provisions to attract foreign investments and create jobs with the addition of the phrase “unless otherwise provided by law” in such provisions. Rodriguez is certain that the Speaker’s resolution will prevail over a minority view in the House that the two chambers should vote jointly on Cha-cha.

“The majority recognizes the fact that Congress is a bicameral or two-house assembly, and joint voting will negate that and render 24 senators useless against 300 House members,” he said.

He noted that most resource persons of the House constitutional amendments committee in its hearing, including former Supreme Court justices, held the view that voting is separate.

Long overdue

Meanwhile, Marikina Rep. Stella Luz Quimbo emphasized that the amendments to the 34-year-old Charter are overdue and needed to be recalibrated.

Even the framers of the 1987 Philippine Constitution, she added, believed that the law of the land should be reviewed after five years, and not five decades.

Stressing that the economic provisions of the Constitution were not meant to be “fixed forever,” Quimbo pointed out that in hearings on RBH 2, former Supreme Court Justice Adolfo Azcuna––who helped draft both the 1971 and 1986 constitutions––told the House Committee on Constitutional Amendments that “I believe we intended the economic revisions to last not more than five years.”

Continued on A2

Supporters of Davao City Mayor Sara Duterte hold a rally in front of the Comelec Building in Intramuros, Manila on Monday, urging her to run as president in the 2022 election.

The mayor told local journalists she was not running. Story at left. ROY DOMINGO

Pabillo commends Eternal Plans on 40th year

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PABILLO

ANILA Archdiocese Apostolic Administrator Bishop Broderick Pabillo has lauded preneed industry leader Eternal Plans, Inc. for its stability amid challenges, and its strong commitment to serve the Filipino people.

In a message for the 40th anniversary of Eternal Plans on March 4, Friday, Bishop Pabillo cited the company’s “strong commitment to help our countrymen build a better future for their loved ones,” through the quality pre-need products that

they have been offering for the past four decades.

He also commended the company for its resilience and good leadership, having survived many years of changes and challenges in the industry. “Despite the many trials that your company has gone through, you remained steadfast in your promise to your valued clients. This is a reflection of your great company values, and the strong leadership of your management,” Pabillo said.

Eternal Plans is celebrating its 40th year with the theme, “Keeping

the Passion to Build Better Lives for 40 Years More,” which expresses the company’s continued commitment to excellence in products and services in the years ahead.

Founded by Ambassador Antonio L. Cabangon Chua in 1981, Eternal Plans is a trusted provider of preneed products that meet the basic needs of Filipinos. It is a member of the ALC Group of Companies, along with its sister companies in the Eternal Group, namely Eternal Gardens, Eternal Chapels, and Eternal Crematory Corporation.

www.businessmirror.com.ph

Companies BusinessMirror

Tuesday, March 2, 2021

B1

Plunge in electricity demand cuts Meralco profits in 2020

By Lorenz S. Marasigan

M

@lorenzmarasigan

anila Electric Co. (Meralco) saw its profits dipping by nearly a third in 2020 as the slight increase in demand for electricity from its residential customers could not offset the sudden drops in demand from its commercial and industrial clients.

Based on a regulatory filing, Meralco’s reported net income stood at P16.32 billion as of endDecember, a 30-percent plunge from P23.29 billion the year prior, as its revenues declined by 14 percent

to P275.30 billion from P318.32 billion.

Meralco’s consolidated core net income, meanwhile, fell by 9 percent to P21.7 billion from P23.8 billion.

Its sales volume went down by 7

percent to 43,572 GWh from 46,871 GWh, as its industrial and commercial customers consumed less electricity last year, accounting for an 11-percent and 20-percent drop, respectively. Its residential customers, meanwhile, grew by 13 percent in terms of consumption.

Residential customers now account for bulk of Meralco’s energy sales at 38 percent, followed by commercial at 34 percent, and industrial at 28 percent. Last year, commercial customers account for 39 percent of total energy sales, followed by residential at 31 percent, and by industrial at 29 percent.

Meralco was able to reduce its costs and expenses by 11 percent to P254.31 billion from P287.08 billion, helping cushion the impact of the pandemic on its financial standing.

Meralco Chairman Manuel V.

Pangilinan said his group still foresees uncertainties for a comeback this year, but noted encouraging signs of recovery.

“It’s a very volatile environment that we foresee for 2021 given the continuing effect of the pandemic in the economy,” he said in a briefing. “For the better part of the first quarter our numbers will be likely lower than last year.”

He noted that his group hopes to see a “positive trend” for the balance of the year.

The lockdown and mobility restrictions resulted in a significant reduction in the demand for power last year, prompting the company to invoke the Force Majeure (FM) provision in its Power Supply Agreements (PSAs) for the duration of the lockdown, reducing fixed charges for generation capacity that would have been charged by suppliers.

Holcim income plummets by 42%

By VG Cabuag @villygc

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ement firm Holcim Philippines Inc. said its income plunged 42 percent last year to P2.06 billion, from the previous P3.58 billion mainly due to the lockdown measures and bad weather in the fourth quarter.

Net sales declined by 22 percent to P26.01 billion from the previous P33.48 billion as volume and prices dropped due to the impact of the pandemic.

Lockdowns during March to May and severe weather conditions in the

Greenergy buys majority stake in U-Pay

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reenergy Holdings Inc., a listed firm of businessman Antonio Tiu, has bought a controlling stake in the Lopez-owned financial technology company.

According to the company’s disclosure, Greenergy, ABSCBN Corp. and iBayad Online Ventures Inc. executed a legally binding term sheet for the acquisition of 51 percent of the fintech company of the Lopez group.

Tiu has bought 51 percent of U-Pay Digital Technologies Inc. from ABS-CBN. The deal will be completed after a due diligence by Greenergy, which has 45 days to do so. U-Pay is a joint venture company between ABS-CBN Corp. and iBayad Online Ventures, Inc. It is engaged in the business of customer and merchant e-wallet/e-money services and other related services, operating a platform therefor, as well as advertising, producing, distributing, and marketing products and services that are connected to the operations of said business.

It has a Type “C” E-Money Issuer license issued by the Bangko Sentral ng Pilipinas and duly registered to operate as a Remittance and Transfer Company, it said.

Greenergy said on its website that it has investments in food and agriculture, fintech, biotechnology, green infrastructure projects, and renewable energy. VG Cabuag

fourth quarter further affected the business. Bad weather hampered the delivery of raw materials and services to production sites and dispatch of products to customers.

“Key to our resilient 2020 performance was our focus on health, cash and cost. We improved efficiency and sustainability of operations. We also introduced new building solutions and enhanced digital tools to better serve the customers. With our committed employees and loyal business partners, these improvements make us ready to help drive a faster recovery and deliver great value to all our stakeholders,” John Stull, the

company’s president and CEO, said.

For the fourth quarter alone, the company’s income fell 40 percent to P1.03 billion from the previous P1.71 billion. Sales declined 26 percent to P7.23 billion from the previous P9.8 billion.

The company said it responded to the pandemic by rationalizing costs and managing spend, which yielded a cost improvement of 7 percent from 2019.

Holcim said it kept operations free from Covid-19 in 2020 due to immediate actions in line with government guidelines and LafargeHolcim Group’s best practices. These enabled

it to prevent any health-related disruptions and to provide reliable supply to customers after the lockdowns were eased nationwide.

The company earlier announced that it has appointed Horia Adrian as the new president and CEO of the company.

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

First Pacific, partners submit offer to Shell for Malampaya stake

A platform at the Malampaya gas field is seen in this BusinessMirror file photo.

F

irst Pacific Co. Ltd., the parent company of infrastructure conglomerate Metro Pacific Investments Corp., and its partners have submitted an offer for the acquisition of a 45-percent stake in Malampaya.

Manuel V. Pangilinan, the company’s managing director, said his group has finalized its intent on acquiring the shares of Shell Philippines Exploration B.V. (SPEx) in the offshore Palawan project that fuels 5 power plants with a combined capacity of 3,211 megawatts (MW).

“We have submitted our final non-binding offer to Shell. It was 5:01 pm last Friday. We’re looking at acquiring the Shell stake, and when we say we it’s really First Pacific,” Pangilinan said.

Pangilinan said the group that submitted the offer consists of First

Pacific and subsidiary Philex Mining Corp., which partly owns PXP Energy Corp., an upstream oil and gas company.

The Malampaya gas field is being maintained and operated by a consortium led by SPEx. Other members include Udenna Corp. (UC), 45 percent, and state-led Philippine National Oil Co. Exploration Corp.

(PNOC-EC), 10 percent.

UC, which is led by Davao businessman Dennis Uy, earlier bought the Malampaya stake from Chevron Malampaya Llc. The consortium members were awarded Service Contract (SC) 38, allowing them to explore and develop an area in Northwest Palawan, Philippines. The gas field could be depleted by 2024.

The Shell stake is also being eyed

by UC and reportedly, San Miguel Corp. Lorenz S. Marasigan

SMC to convert portions AirAsia unit, McDonald’s forge partnership of office into urban farms

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UDGET carrier A irAsia, through its logistics venture, officially signed on Monday a partnership deal with Golden Arches Development Corp. (McDonald’s Philippines).

The deal is aimed at supporting and ensuring the fast delivery of McDonald’s products from its restaurants within the National Capital Region (NCR).

“Teleport, which is a very strong cargo business [or] entity of AirAsia, is now going to introduce this lastmile logistics service, and we’re so happy that McDonald’s is going to be part of this launch,” AirAsia Chief Executive Officer (CEO) Ricky Isla told reporters during their ceremonial agreement signing held at the McDonald’s McKinley West outlet in Bonifacio Global City, Taguig.

Seeing that the demand for food delivery will continue to increase this year amid the ongoing Covid-19 pandemic, the fast-food giant believes that it needs to become more convenient and connected to the customers through its online platforms.

“That’s why for us, this partnership is very relevant. It is important as it enables us to be more accessible.

We would be able to tap into the network of riders of Teleport and have them to be part of our on-demand riders,” said McDonald’s Philippines CEO Kenneth Yang.

Kicking off their partnership was the send off of around 10 members of the AirAsia delivery team, some of whom were cabin crew, pilots and ground staff, at the said outlet to deliver orders of customers within Metro Manila starting in Parañaque and Pasay City.

Per their agreement, ordering, payment, and delivery tracking will be done through McDonald’s channels, including the McDelivery web-

By Jasper Emmanuel Y. Arcalas

S

BusinessMirror file photo

site and app. AirAsia’s Teleport, on its part, will guarantee the safe, hot and fresh, and on-time deliveries from the QSR’s stores right to the doorsteps of customers.

According to Isla, their tie up forms part of their company’s pivot to digital shift and opening of other businesses to create more opportunities for their people and generate jobs for those affected by the health crisis.

“We know that to our AirAsia employees, this means a lot because this is going to provide extra work. This is going to provide extra income for our employees,” he said, adding that some of their cabin crew, pilots and workers on the ground have already enlisted since the initial test run of Teleport with the delivery of fresh produce to as far as Cordillera.

“I’m very happy about the added value to the McDonald’s App delivery business [since] this partnership also enables us to assist AirAsia employees who were affected by the pandemic,” added Yang.

About 30 in-house employees or riders of AirAsia have been already

trained for deployment in Metro Manila. The headcount will be increased to about 50 very soon.

“So we want to be very prepared because we know that McDonald’s is going to be very strong in terms of [operation this year], especially now that almost all industries are already waiting for the implementation, hopefully, of what we call the MGCQ [modified general community quarantine]. And we just have to be prepared for that,” Isla said.

Starting with about 14 to 15 McDonald’s Metro Manila outlets, the logistics arm of AirAsia said it is looking forward to expand its services nationwide.

“Aside from the NCR, Teleport is now present in key cities in the country, such as Bacolod, Cebu, Davao, General Santos, Iloilo, Kalibo, Puerto Princesa, Tacloban, Tagbilaran, Clark, Cagayan de Oro, and Zamboanga. We hope to partner with McDonald’s in these key cities to service more McDonald’s stores in the country,” said Teleport Country Head Ernest Bernal. Roderick L. Abad

@jearcalas

an Miguel Corp. (SMC) said it will convert certain portions of its Ortigas headquarters into patches of urban farms to allow its support staff to grow fresh food and provide them with additional income.

“Under the program, interested employees and workers doing support jobs will be given a plot of land in what will be dubbed as SMC’s ‘Malasakit Garden,’ for them to use as a space to grow whatever produce they like,” the company said in a statement on Monday.

SMC said the employees and workers can bring home their own harvest or opt to sell them at a small farmers market which will be set up at the company’s complex. The employees and workers have the freedom to decide what they want to plant and how they will make the garden thrive, SMC added.

“In this time of pandemic, many Filipinos are looking for ways to earn extra income, or at the very least, make sure they have sufficient supply of food,” SMC President Ramon S. Ang said in a statement.

“Realizing the importance of food security, many are also exploring growing their own food.

That is why we thought of this simple project to help our maintenance workers, as well as our own employees.”

Ang said land is not a problem for putting up the urban farms since it is

readily available. He added that the company has partnered with nonprofit organization SEED Philippines which would train the conglomerates’ employees on how to succeed at urban farming.

“With this, we hope the Malasakit Garden can augment healthy food supply for some of our workers, or serve as an additional source of income.”

Ang noted that many of their support workers grew up in the province and know how to plant but they do not have land for them to do it in the city.

“Our hope is that they can really grow to like planting, they can hone their skills, and it becomes a practical life skill for them,” he said.

“The project will hopefully encourage more businesses to transform urban spaces into functioning ecological spaces and help agriculture flourish.”

B2

Companies BusinessMirror

Tuesday, March 2, 2021

PSE STOCK QUOTATIONS

March 1, 2021

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

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

109.1 87.1 24.3 7.89 9.98 51.6 10.5 22.05 24.55 54.85 96.45 17.22 130 74 2.04 3.89 0.59 3.45 1.57 0.42 850 0.82 150.8 2,200

109.4 87.3 24.4 8.49 10 51.65 10.62 22.5 24.7 54.9 114.9 17.78 130.1 74.1 2.05 3.9 0.61 3.53 1.6 0.44 893.5 0.83 151 2,240

105.5 88 24.25 8.49 10.1 51.5 10.62 22.05 25 54.85 96.45 17.14 130.5 73 1.6 3.83 0.58 3.93 1.53 0.455 850 0.8 152.9 2,200

109.9 88 24.6 8.49 10.1 52 10.62 22.05 25 55 96.45 17.9 131.5 74 2.19 3.97 0.6 3.93 1.7 0.455 850 0.83 152.9 2,200

105.5 86.2 24.25 8.49 9.96 50.8 10.5 22.05 24.4 54.85 96.45 17.12 127.6 72.95 1.56 3.83 0.58 3.4 1.53 0.41 850 0.78 150 2,200

109.4 87.3 24.3 8.49 9.98 51.6 10.5 22.05 24.55 55 96.45 17.5 130 74 2.04 3.9 0.6 3.53 1.6 0.44 850 0.82 150.8 2,200

3,683,520 1,464,420 54,500 500 276,300 9,051,540 4,300 100 516,800 3,070 10 21,900 710,030 81,450 22,359,000 113,000 93,000 306,000 1,013,000 260,000 40 147,000 44,400 305

401,498,215 127,836,336 1,326,075 4,245 2,762,531 465,313,587.50 45,562 2,205 12,760,900 168,572.50 964.5 386,342 92,315,929 6,012,954.50 44,035,640 438,140 55,500 1,122,960 1,618,710 114,350 34,000 118,600 6,693,235 671,000

124,234,688 -28,314,356.50 -724,805 -51,304,776 -2,100 -2,205 3,269,695 -6,334,352 5,840 -894,600.00 -50,770 43,500 -1,600 -12,900 34,000 334,902 638,000

INDUSTRIAL AC ENERGY 7.3 7.34 7.5 7.55 7.3 7.3 15,567,200 115,703,869 1.31 1.32 1.35 1.35 1.3 1.32 578,000 762,440 ALSONS CONS ABOITIZ POWER 25 25.35 24.4 25.4 24.4 25 2,969,800 74,041,145 1.11 1.12 1.11 1.14 1.09 1.11 39,794,000 44,342,740 BASIC ENERGY FIRST GEN 30 31 29.95 31.1 29.85 31 608,800 18,479,750 73.1 74 73.05 74 73.05 73.1 19,320 1,413,576 FIRST PHIL HLDG 274 278 278 286.4 274 274 228,890 63,170,208 MERALCO MANILA WATER 15.36 15.38 15.64 15.64 15.22 15.36 10,792,700 166,188,716 3.55 3.56 3.54 3.56 3.53 3.56 1,084,000 3,854,910 PETRON PETROENERGY 3.78 3.9 3.78 3.78 3.78 3.78 1,000 3,780 12.02 12.48 12.36 12.48 11.98 12.48 32,300 402,194 PHX PETROLEUM 21.55 21.65 21.9 21.9 21.4 21.55 280,900 6,054,265 PILIPINAS SHELL SPC POWER 10.14 10.28 10.08 10.28 10.08 10.28 88,400 898,272 14.52 14.94 14.5 14.52 14.5 14.52 31,500 456,780 VIVANT AGRINURTURE 7.17 7.18 7.05 7.49 6.98 7.18 974,600 7,044,247 3.36 3.44 3.44 3.44 3.35 3.44 380,000 1,297,680 AXELUM 13 13.1 13.1 13.5 13.1 13.1 6,600 86,540 CNTRL AZUCARERA CENTURY FOOD 17.6 17.68 18 18 17.58 17.6 1,122,800 19,781,626 8.5 8.58 8.6 8.61 8.4 8.5 252,200 2,137,315 DEL MONTE DNL INDUS 7.12 7.18 7.11 7.15 7.1 7.12 1,543,000 10,990,696 10.8 10.88 9.94 10.9 9.94 10.88 3,578,700 37,658,852 EMPERADOR SMC FOODANDBEV 66.9 67 67 67.45 66.7 67 34,420 2,306,126.50 ALLIANCE SELECT 0.63 0.65 0.62 0.62 0.62 0.62 68,000 42,160 1.5 1.52 1.49 1.52 1.47 1.52 9,809,000 14,760,400 FRUITAS HLDG GINEBRA 52.05 52.35 51.5 52 51.5 52 12,850 666,376 178.7 178.8 179.9 180.2 178.8 178.8 590,930 106,157,871 JOLLIBEE LIBERTY FLOUR 33.05 34.25 34.2 34.3 34.2 34.25 500 17,130 7.51 7.88 7.88 7.88 7.42 7.88 1,000 7,704 MACAY HLDG 6.37 6.45 6.88 6.88 6.37 6.37 859,100 5,642,868 MAXS GROUP MG HLDG 0.37 0.375 0.37 0.385 0.37 0.375 14,200,000 5,342,100 7.26 7.3 7.21 7.34 7.21 7.3 68,900 502,546 SHAKEYS PIZZA ROXAS AND CO 1.15 1.16 1.14 1.17 1.13 1.15 2,147,000 2,452,680 RFM CORP 4.6 4.7 4.7 4.7 4.7 4.7 1,000,000 4,700,000 1.67 1.69 1.69 1.69 1.68 1.69 76,000 128,110 ROXAS HLDG SWIFT FOODS 0.139 0.14 0.14 0.142 0.133 0.14 9,750,000 1,341,470 129 129.1 129.9 131 128 129.1 1,756,440 226,842,090 UNIV ROBINA VITARICH 0.89 0.9 0.88 0.91 0.88 0.9 10,501,000 9,444,810 VICTORIAS 2.2 2.24 2.23 2.23 2.2 2.23 15,000 33,300 52 53.95 53.95 54 53.95 53.95 290 15,652.50 CONCRETE A CONCRETE B 55.05 58.95 59.9 59.95 54.3 59.75 850 47,136 1.31 1.32 1.3 1.33 1.29 1.31 2,331,000 3,048,740 CEMEX HLDG EAGLE CEMENT 11.94 12 12 12 11.8 11.94 364,200 4,368,936 8.31 8.33 8.3 8.39 8.21 8.33 217,000 1,804,565 EEI CORP 6.22 6.23 6.19 6.25 6.08 6.23 290,800 1,787,020 HOLCIM MEGAWIDE 7.36 7.39 7.49 7.54 7.3 7.39 499,000 3,704,837 11.06 11.1 11 11.98 10.96 11.06 63,300 704,058 PHINMA TKC METALS 1.47 1.48 1.32 1.53 1.3 1.47 6,007,000 8,704,800 3.11 3.12 2.8 3.15 2.8 3.11 39,461,000 119,523,860 VULCAN INDL 2.03 2.09 2.02 2.1 2 2.09 1,289,000 2,631,480 CROWN ASIA EUROMED 2.23 2.26 2.32 2.4 2.22 2.26 644,000 1,482,900 4.76 4.98 4.75 4.76 4.74 4.76 11,000 52,180 LMG CORP MABUHAY VINYL 4.43 4.5 4.5 4.5 4.43 4.43 10,000 44,440 5.58 5.7 5.5 5.7 5.5 5.7 138,200 785,280 PRYCE CORP 21.35 21.6 21.1 21.6 21 21.6 1,011,100 21,588,125 CONCEPCION GREENERGY 4.81 4.82 4.6 4.84 4.51 4.82 28,836,000 135,662,300 12.56 12.58 13.08 13.08 12.28 12.58 2,019,100 25,553,934 INTEGRATED MICR IONICS 1.25 1.26 1.25 1.27 1.25 1.26 495,000 623,050 5.8 6.28 6.28 6.28 5.8 6.28 4,100 23,970 PANASONIC 1.49 1.53 1.5 1.54 1.48 1.49 3,186,000 4,779,480 SFA SEMICON CIRTEK HLDG 6.78 6.79 6.54 6.8 6.5 6.79 1,793,200 12,052,510

-2,957,802 39,400 13,255,580 1,977,320 95,005 -810,258 -38,354,316 -4,981,440 -637,260 -3,780 -1,589,785 8,064 -3,110,446 3,400 31,440 -9,382,920 163,100 -7,148,371 -387,459 -402,601 13,360 -2,056.50 -34,927,783 70,556 97,200 -73,000 -43,700 258,500 -53,121,360.00 328,030 -543,990 2,768,400 345,302 45,771 -708,613 -385,002 -26,170 -1,190,850 -2,250 75 -5,858,090 1,577,434 -79,080 233,880 121,200

HOLDING & FRIMS ABACORE CAPITAL 1.14 1.15 1.14 1.23 1.12 1.15 45,100,000 52,277,890 7.29 7.59 7.2 7.3 7.2 7.29 33,000 238,784 ASIABEST GROUP AYALA CORP 776 780 750.5 781 750.5 780 229,400 177,437,900 42 42.15 42.2 43.1 42 42 875,400 36,973,065 ABOITIZ EQUITY ALLIANCE GLOBAL 10.52 10.8 10.78 10.96 10.5 10.8 3,202,600 34,511,546 3.02 3.03 2.96 3.06 2.96 3.03 1,015,000 3,069,270 AYALA LAND LOG 7.38 7.4 7.35 7.4 7.2 7.4 668,400 4,937,003 ANSCOR ANGLO PHIL HLDG 0.8 0.82 0.81 0.84 0.79 0.8 12,394,000 9,932,760 0.95 0.96 0.91 0.96 0.9 0.95 31,046,000 29,086,370 ATN HLDG A ATN HLDG B 0.95 0.96 0.89 0.95 0.89 0.95 531,000 499,820 5.47 5.48 5.48 5.5 5.44 5.48 2,051,900 11,236,955 COSCO CAPITAL 5.4 5.41 5.35 5.4 5.3 5.4 1,936,200 10,381,218 DMCI HLDG FILINVEST DEV 8.8 8.94 9.14 9.14 8.75 8.94 38,700 344,533 3.07 3.27 3.27 3.27 3.07 3.07 2,000 6,340 FJ PRINCE A FORUM PACIFIC 0.242 0.255 0.241 0.265 0.239 0.255 2,490,000 617,020 555 556 553 555.5 545 555 72,280 39,828,770 GT CAPITAL 3.62 3.7 3.8 3.8 3.6 3.7 214,000 776,760 HOUSE OF INV JG SUMMIT 64.45 64.5 64.4 64.45 63.3 64.45 1,156,250 74,339,947 1.77 1.78 1.8 1.9 1.67 1.78 73,829,000 132,067,260 LODESTAR LOPEZ HLDG 3.75 3.79 3.75 3.75 3.75 3.75 22,000 82,500 13.82 14 14.28 14.28 13.82 13.82 4,770,000 66,646,922 LT GROUP MABUHAY HLDG 0.58 0.59 0.52 0.64 0.52 0.58 5,651,000 3,307,700 MJC INVESTMENTS 1.84 1.96 1.96 1.96 1.81 1.96 20,000 38,210 4.15 4.16 4.16 4.17 4.12 4.16 25,738,000 106,833,780 METRO PAC INV PACIFICA HLDG 4.91 5 5 5.42 4.92 5 89,000 446,290 2.82 2.83 2.58 2.85 2.57 2.82 9,578,000 26,448,540 PRIME MEDIA REPUBLIC GLASS 2.78 2.8 2.8 2.84 2.7 2.8 122,000 336,900 1.28 1.33 1.29 1.33 1.26 1.33 181,000 238,450 SOLID GROUP 333 335 330 335 330 335 270 89,850 SYNERGY GRID SM INVESTMENTS 1,025 1,026 1,025 1,025 1,009 1,025 670,320 684,420,960 126.6 128 125.5 128 124.1 128 165,000 20,999,147 SAN MIGUEL CORP SOC RESOURCES 0.81 0.82 0.76 0.83 0.76 0.81 345,000 273,930 0.25 0.255 0.265 0.28 0.243 0.25 17,750,000 4,700,760 WELLEX INDUS 0.23 0.231 0.227 0.234 0.227 0.23 1,950,000 450,040 ZEUS HLDG

-560,940.00 -73,892,850 -28,428,795 -1,068,592 744,320 823,000 -228,800 697,282 731,873 164,496 -12,669,325 -257,400 -3,821,041 433,090 -82,500 -2,770,682 -40,090 -1,810 -64,973,540 132,760 -133,751,865 -1,304,443 437,500 -

PROPERTY ARTHALAND CORP 0.65 0.66 0.65 0.66 0.63 0.66 732,000 473,550 7.5 7.94 7.94 7.94 7.94 7.94 1,000 7,940 ANCHOR LAND AYALA LAND 39.8 39.85 39.55 39.9 39.05 39.85 8,698,200 344,759,080 1.34 1.38 1.39 1.39 1.31 1.38 113,000 149,800 ARANETA PROP AREIT RT 33.85 33.9 33.95 34.4 33.9 33.9 1,176,100 39,944,205 1.68 1.7 1.7 1.71 1.68 1.68 178,000 302,670 BELLE CORP 0.96 0.97 0.94 0.97 0.93 0.97 6,298,000 6,023,840 A BROWN CITYLAND DEVT 0.89 0.91 0.79 0.98 0.79 0.91 12,749,000 11,445,120 0.147 0.149 0.143 0.15 0.142 0.149 1,400,000 205,600 CROWN EQUITIES CEBU HLDG 7.14 7.19 7 7.19 7 7.14 50,000 352,671 5.81 5.85 6.22 6.28 5.66 5.85 8,885,500 52,274,280 CEB LANDMASTERS 0.405 0.41 0.41 0.42 0.4 0.41 10,120,000 4,098,150 CENTURY PROP CYBER BAY 0.345 0.35 0.34 0.35 0.33 0.35 2,210,000 748,500 15.84 15.9 15.4 16.18 15.4 15.84 7,602,900 120,491,510 DOUBLEDRAGON DM WENCESLAO 6.6 6.8 6.6 6.82 6.58 6.58 34,200 228,642 0.3 0.31 0.3 0.315 0.295 0.31 5,180,000 1,593,250 EMPIRE EAST 0.099 0.1 0.093 0.117 0.091 0.1 34,470,000 3,577,020 EVER GOTESCO FILINVEST LAND 1.16 1.17 1.15 1.17 1.13 1.17 4,495,000 5,165,880 0.94 0.95 0.89 0.94 0.89 0.94 3,295,000 2,995,530 GLOBAL ESTATE 8990 HLDG 7.49 7.5 7.25 7.5 7.23 7.49 26,200 194,400 1.67 1.68 1.59 1.69 1.55 1.67 15,673,000 25,730,090 PHIL INFRADEV KEPPEL PROP 3.02 3.3 3.02 3.06 3.02 3.06 4,000 12,200 CITY AND LAND 1.03 - 0.73 1.03 0.73 1.03 8,371,000 8,228,140 3.74 3.75 3.68 3.77 3.68 3.75 14,125,000 52,930,840 MEGAWORLD MRC ALLIED 0.49 0.5 0.5 0.51 0.49 0.495 24,500,000 12,162,700 0.57 0.58 0.62 0.75 0.56 0.57 368,353,000 237,986,010 PHIL ESTATES PRIMEX CORP 1.63 1.64 1.57 1.71 1.57 1.63 5,298,000 8,691,500 ROBINSONS LAND 19.82 19.84 19.12 19.92 19.12 19.82 3,286,300 64,732,770 0.33 0.335 0.29 0.34 0.29 0.33 3,600,000 1,171,100 PHIL REALTY ROCKWELL 1.44 1.46 1.45 1.5 1.43 1.44 335,000 484,080 2.78 2.79 2.66 2.78 2.66 2.78 1,109,000 3,081,890 SHANG PROP STA LUCIA LAND 2.15 2.22 2.12 2.22 2.11 2.22 289,000 633,940 SM PRIME HLDG 36.05 36.5 36.15 36.7 35.55 36.05 6,325,300 229,691,190 3.88 4 4.02 4.02 3.9 3.9 111,000 433,020 VISTAMALLS SUNTRUST HOME 1.77 1.79 1.76 1.79 1.71 1.77 1,261,000 2,229,100 4.31 4.33 4.35 4.35 4.26 4.31 1,337,000 5,740,220 VISTA LAND

-49,834,730.00 -14,527,270 -5,040 -101,850 -418,410 168,987 48,600 -109,000 -36,963,346 0 -20,000 -384,190.00 -11,600 -1,229,680 -3,020 -1,092,110 -11,265,870 -851,150 570,060 1,146,020 5,594,626 -9,950 12,150 698,230 -133,000 -140,332,265 23,180 -1,407,680

SERVICES ABS CBN 12.42 12.68 12.2 12.7 12.2 12.7 470,900 5,934,632 7.12 7.13 7.12 7.24 7.08 7.12 389,600 2,789,270 GMA NETWORK MANILA BULLETIN 0.49 0.495 0.475 0.495 0.465 0.495 290,000 138,800 10.44 11.1 10.78 11.2 10.78 11.2 2,700 29,364 MLA BRDCASTING GLOBE TELECOM 2,014 2,026 2,026 2,026 2,004 2,026 39,490 79,801,120 1,293 1,297 1,290 1,324 1,290 1,297 118,020 153,022,110 PLDT 0.25 0.255 0.255 0.26 0.25 0.255 465,020,000 118,284,750 APOLLO GLOBAL CONVERGE 18.12 18.16 17.6 18.18 17.6 18.12 5,844,000 104,800,266 4.26 4.3 4.3 4.32 4.24 4.3 837,000 3,571,800 DFNN INC DITO CME HLDG 16.1 16.12 16.26 16.78 16.04 16.12 34,370,000 563,996,264 1.85 1.95 1.77 1.85 1.77 1.85 126,000 229,740 IMPERIAL 0.171 0.172 0.171 0.177 0.17 0.171 8,630,000 1,484,520 ISLAND INFO JACKSTONES 2.17 2.25 2.07 2.25 2.07 2.25 198,000 434,010 2.91 2.92 2.97 2.97 2.83 2.91 2,119,000 6,143,280 NOW CORP TRANSPACIFIC BR 0.47 0.475 0.48 0.48 0.455 0.47 23,230,000 10,846,350 2.78 2.81 2.84 2.86 2.78 2.78 1,274,000 3,593,900 PHILWEB 9.05 9.2 8.7 9.75 8.68 9.2 748,100 6,875,442 2GO GROUP ASIAN TERMINALS 14.74 15 15 15 14.78 14.78 2,200 32,648 4.01 4.02 4.1 4.1 4 4.02 1,964,000 7,929,110 CHELSEA CEBU AIR 45 45.2 44.85 46.5 44.85 45.2 519,600 23,555,400 120.5 120.9 120.7 123 120.3 120.5 1,723,290 208,732,231 INTL CONTAINER LBC EXPRESS 16.58 16.6 16.78 16.78 16.06 16.58 12,100 200,380 1.06 1.09 1.04 1.1 0.99 1.06 1,332,000 1,423,330 LORENZO SHIPPNG 5.79 5.8 5.9 6.05 5.75 5.79 3,199,500 18,872,446 MACROASIA METROALLIANCE A 3.05 3.08 3.37 3.49 3.01 3.05 10,409,000 33,486,390 2.96 3.2 3.17 3.25 2.9 2.96 38,000 114,800 METROALLIANCE B PAL HLDG 6.73 6.74 6.28 6.79 6.2 6.74 273,800 1,810,920 1.33 1.36 1.32 1.37 1.29 1.36 912,000 1,206,840 HARBOR STAR 1.45 1.51 1.45 1.45 1.45 1.45 7,000 10,150 ACESITE HOTEL BOULEVARD HLDG 0.047 0.048 0.044 0.047 0.042 0.047 157,300,000 7,092,800 5.6 5.64 5.36 5.64 5.36 5.64 5,060,300 28,275,238 DISCOVERY WORLD GRAND PLAZA 10.24 10.88 10.24 10.26 10.24 10.24 1,300 13,332 0.59 0.6 0.57 0.6 0.57 0.59 15,238,000 8,901,160 WATERFRONT 6.72 7.54 6.68 6.69 6.68 6.69 300 2,005 CENTRO ESCOLAR FAR EASTERN U 580 634.5 580 580 580 580 10 5,800 8.08 8.46 8.45 8.45 8.45 8.45 1,900 16,055 IPEOPLE STI HLDG 0.395 0.405 0.395 0.405 0.39 0.405 47,650,000 18,602,300 BERJAYA 4.32 4.58 4.31 4.31 4.31 4.31 11,000 47,410 7.84 7.95 7.9 7.99 7.77 7.95 7,108,600 55,691,896 BLOOMBERRY PACIFIC ONLINE 2.08 2.2 2.08 2.21 2.06 2.19 78,000 164,630 2.09 2.1 1.98 2.2 1.91 2.1 8,248,000 17,337,300 LEISURE AND RES MANILA JOCKEY 2.14 2.25 2.25 2.25 2.14 2.25 22,000 48,700 2.7 2.71 2.58 2.72 2.58 2.7 5,810,000 15,491,370 PH RESORTS GRP 0.465 0.47 0.465 0.47 0.465 0.47 2,670,000 1,250,650 PREMIUM LEISURE PHIL RACING 6.3 6.78 6.4 6.5 6.3 6.5 2,200 14,270 8.17 8.19 8.05 8.19 7.99 8.19 1,050,600 8,467,468 ALLHOME METRO RETAIL 1.37 1.39 1.39 1.4 1.36 1.38 724,000 1,003,920 37.5 37.65 36.85 37.8 36.6 37.5 2,215,700 82,730,170 PUREGOLD 56.5 56.55 56.8 56.8 55.75 56.55 358,790 20,280,119 ROBINSONS RTL PHIL SEVEN CORP 97.25 97.5 98.3 98.3 97.15 98.05 21,250 2,083,738 1.4 1.41 1.44 1.44 1.4 1.41 1,228,000 1,743,220 SSI GROUP WILCON DEPOT 17.9 18 17.9 18.24 17.88 17.9 769,200 13,783,630 0.405 0.41 0.42 0.43 0.41 0.41 5,900,000 2,443,000 APC GROUP 6.77 6.78 6.8 7 6.74 6.78 108,500 740,614 EASYCALL IPM HLDG 5.05 5.15 5.15 5.15 5 5 22,000 111,500 2.22 2.37 2.21 2.21 2.21 2.21 1,000 2,210 PAXYS PRMIERE HORIZON 2.92 2.93 3 3.07 2.92 2.92 79,127,000 236,058,070 4.37 4.44 4.44 4.44 4.37 4.37 15,000 65,830 SBS PHIL CORP

10,260,020 -49,106,645 597,000 -12,640,660 517,990 -42,634,924 5,140 -2,170 346,110 419,200 -196,500 -20,113 -296,980.00 280,665 -75,791,571 117,400 -1,700,332 -52,540 -8,295 -17,700 -1,336 -18,148,600 -150,297 41,200 1,072,530 -2,140 -37,040 -5,192,403 -640,960.00 15,470 -8,814,818 -1,877,890 -67,310 -7,538,068.00 20,750 67,800 -2,210 3,990,540 4,440

MINING & OIL ATOK 7.26 7.3 7.16 7.32 7.11 7.3 262,200 1,882,115 321,150 APEX MINING 1.54 1.55 1.55 1.58 1.55 1.55 2,057,000 3,197,320 -560,430 0.0036 0.0037 0.0035 0.0036 0.0033 0.0036 5,891,000,000 20,645,700 -47,000 ABRA MINING ATLAS MINING 7.08 7.09 6.8 7.1 6.8 7.08 1,948,900 13,641,536 207,082 2.73 2.89 2.75 2.92 2.72 2.92 53,000 145,460 BENGUET A 2.72 2.89 2.78 2.78 2.73 2.73 89,000 245,120 BENGUET B COAL ASIA HLDG 0.335 0.35 0.35 0.355 0.335 0.35 1,140,000 393,650 -3,400 2.82 2.9 2.8 2.9 2.8 2.9 99,000 280,480 219,580.00 CENTURY PEAK DIZON MINES 12.36 12.68 12.9 12.96 12.28 12.36 146,300 1,821,152 27,500 2.93 2.94 2.97 2.99 2.81 2.93 9,449,000 27,606,550 1,869,140 FERRONICKEL 0.47 0.475 0.48 0.48 0.465 0.47 3,360,000 1,585,200 GEOGRACE LEPANTO A 0.15 0.152 0.151 0.154 0.148 0.15 17,650,000 2,632,200 0.15 0.152 0.152 0.154 0.152 0.152 2,020,000 307,120 -6,160 LEPANTO B MANILA MINING A 0.01 0.011 0.01 0.011 0.0099 0.01 48,000,000 480,400 0.01 0.011 0.01 0.011 0.01 0.01 47,000,000 490,000 MANILA MINING B 1.61 1.63 1.59 1.63 1.59 1.61 1,970,000 3,160,940 -117,070 MARCVENTURES NIHAO 2.6 2.63 2.72 2.72 2.52 2.62 382,000 986,370 -82,800 5.86 5.87 5.79 5.99 5.79 5.87 8,369,000 49,227,791 -1,753,768 NICKEL ASIA OMICO CORP 0.435 0.465 0.43 0.435 0.43 0.435 380,000 164,250 1.12 1.14 1.11 1.15 1.08 1.14 2,448,000 2,723,180 86,260 ORNTL PENINSULA PX MINING 5.1 5.14 5.1 5.18 5.02 5.1 2,213,000 11,281,190 -113,400 SEMIRARA MINING 12.7 12.72 12.76 12.76 12.5 12.72 631,500 8,008,098 -4,303,646 0.0097 0.0099 0.0096 0.0099 0.0094 0.0097 133,000,000 1,292,400 UNITED PARAGON ACE ENEXOR 24.8 25 21 25 20.8 25 3,497,000 81,320,145 -2,621,470 0.012 0.013 0.012 0.013 0.012 0.012 218,700,000 2,678,700 ORNTL PETROL A ORNTL PETROL B 0.013 0.014 0.013 0.013 0.013 0.013 10,400,000 135,200 0.013 0.014 0.013 0.014 0.012 0.013 210,000,000 2,742,200 54,600 PHILODRILL 9.2 9.29 9.38 9.38 9.08 9.2 380,000 3,492,896 -203,110 PXP ENERGY

PREFFERED HOUSE PREF B 100.6 101 101 101 101 101 98,720 9,970,720 101 101.5 101.5 101.5 101 101 23,300 2,353,550 -303,100 HOUSE PREF A ALCO PREF C 110 118 110 110 109 110 12,050 1,320,300 512 518 512 512 512 512 450 230,400 AC PREF B2R CPG PREF A 101.5 101.8 101.8 101.8 101.8 101.8 260 26,468 101 102 101 101 101 101 5,000 505,000 DD PREF 106.3 106.9 106.4 106.4 106.3 106.3 1,160 123,404 FGEN PREF G GLO PREF P 505 508 505 505 505 505 70 35,350 1,030 1,034 1,030 1,034 1,030 1,034 55 56,670 GTCAP PREF B MWIDE PREF 100 101.9 100 101.9 100 101.9 30 3,019 -981 99 100 100 100 100 100 270 27,000 MWIDE PREF 2A 100.3 101.1 100.7 100.7 100.3 100.3 1,000 100,380 MWIDE PREF 2B PNX PREF 3B 103 105 103 105 103 105 8,920 922,940 1,001 1,004 1,000 1,003 1,000 1,001 670 670,640 PNX PREF 4 PCOR PREF 2B 1,011 1,045 1,012 1,045 1,011 1,011 385 389,920 1,100 1,118 1,091 1,100 1,091 1,100 610 670,055 PCOR PREF 3A 1,124 1,125 1,125 1,125 1,125 1,125 400 450,000 PCOR PREF 3B SFI PREF 1.72 1.73 1.74 1.78 1.73 1.73 25,000 43,600 78.2 80.1 80.3 80.3 77.85 77.85 31,280 2,452,273 SMC PREF 2C SMC PREF 2F 79.35 79.4 79.3 79.4 79.3 79.4 25,720 2,041,358 76 76.9 76.9 76.9 75.7 76.9 3,300 250,650 SMC PREF 2G SMC PREF 2H 77 78.9 77 78.9 77 78.9 10,200 785,690 76.25 76.85 76.2 76.85 76.2 76.25 6,050 464,343.50 SMC PREF 2K

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.82 11.98 11.7 11.8 11.7 11.8 100,700 1,188,190 -1,180,000 6.87 6.94 6.94 6.94 6.85 6.87 13,700 94,674 14,555 GMA HLDG PDR

WARRANTS LR WARRANT 2.4 2.41 2.13 2.72 1.82 2.4 101,366,000 247,501,870 1,826,610.00

SMALL & MEDIUM ENTERPRISES ALTUS PROP 19.88 19.9 19.5 20.35 19.5 19.9 102,300 2,041,270 2.85 2.9 2.8 2.98 2.8 2.9 1,383,000 4,022,720 -24,590 ITALPINAS KEPWEALTH 6.3 6.4 5.9 6.67 5.9 6.3 130,900 820,076 2.85 2.92 2.77 3.05 2.41 2.85 1,449,000 4,188,670 -2,520 MAKATI FINANCE MERRYMART 6.72 6.73 6.7 6.85 6.69 6.72 8,755,100 59,088,863 -1,531,546

EXHANGE TRADE FUNDS

FIRST METRO ETF 103.4 103.5 102.3 103.9 102.3 103.4 23,900 2,463,669 127,607

www.businessmirror.com.ph

Century Properties taps debt market to fund spending plan

L

By VG Cabuag

@villygc

isted property developer Century Properties Group Inc. raised P3 billion in fresh funds from its latest bond offering, which was more than twice oversubscribed from the base offer.

The debt was listed on Monday at the Philippine Dealing and Exchange Corp.

The 3-year unsecured debt carries a coupon rate of 4.8467 percent

per annum.

Ponciano S. Carreon Jr., the company’s CFO, said significant interest in the offering moved the pricing at the tighter end of the spread range.

Proceeds from the issuance will be used to partially refinance bank term loans, finance the company’s capital expenditures for vertical developments, and fund general corporate purposes including working capital.

“We at Century Properties Group thank our institutional and retail investors, transaction parties, working group, and stakeholders for their continued trust in the company.

The success of this fundraising is because of our collective hard work and your continued support and confidence in the growth of CPG,” company president and CEO Marco R. Antonio said.

“The business environment is currently challenged by the global

pandemic, but we are optimistic about a future where CPG creates New Generation Real Estate that is responsive to the needs of the times.”

China Bank Capital is the sole issue manager, sole lead underwriter and sole bookrunner for the transaction.

“This bond issuance is our third consecutive capital market transaction for CPG, and we are very pleased with the market’s strong reception to this offering. It is a testament to investors’ confidence in the company amidst a challenging economic backdrop as well as support for its growth initiatives and expansion strategy,” Ryan Martin L. Tapia, President of China Bank Capital Corp., said.

Lalamove: Orders expanded by 200%

By Lorenz S. Marasigan @lorenzmarasigan

O

n demand logistics group Lalamove said on Monday it saw orders tripling since last year due to the increased demand for its delivery services, as businesses tapped the digital forwarding company to boost their sales.

In a statement, Lalamove said the growth trend started in March 2020, when the country was placed under the enhanced community quarantine (ECQ), which forced businesses and individuals to adapt and tap digital solutions for their daily needs. This also boosted the demand for on demand delivery due to limited mobility.

Lalamove issued the statement on the heels of a demonstration staged by its drivers, who called on lower commission rates, the removal of the rental fee for insulated bags, and the increase of the delivery rates.

“Since the ECQ in March 2020 we’ve managed to help over a hundred thousand drivers to earn additional income by taking orders with Lalamove. During this time we’ve seen a more than 200-percent growth in orders, providing our partner drivers a vital source of income during these difficult times due to Covid-19,” the com-

pany’s statement read.

Lalamove said it offers small businesses affordable logistics solutions, which then created greater demand for more drivers on the road.

“Our affordable delivery prices have created more demand from at least hundreds of thousands of businesses which in turn has created more opportunities for our partner drivers to earn more than what they did pre-ECQ, and much more than the country’s minimum wage through the industry-standard commission rates.”

As for the insulated bags, Lalamove noted that these are “optional,” but these help ensure the “high standards of service for our customers.”

“Lalamove is committed to working hand in hand with our users and partner drivers to offer the most competitive and reliable service to support our communities. The majority of our partner drivers value the opportunities that are created by working with Lalamove and they are aligned with our values.”

Launched in the Philippines in 2017, Lalamove is an on-demand logistics company that matches drivers with customers and SME businesses to fulfill same-day deliveries. It now operates in 25 markets across Asia, Latin America, and the United States.

Wells Fargo inks RE supply agreement with AboitizPower

W

ells Fargo International Solutions LLCPhilippines has tapped Aboitiz Power Corp. for the supply of 7,500 MWh of renewable energy (RE) per year.

The deal also comes “bundled” with the International Renewable Energy Certificates to Wells Fargo’s Taguig facility. The energy supply will come from AP Renewables Inc.’s (APRI) Tiwi-MakBan geothermal plants in the provinces of Laguna, Batangas, and Albay.

“Over the years, AboitizPower has taken great strides in fulfilling our groupwide sustainability goals.

This partnership with Wells Fargo is a shared commitment towards building the market for renewables in this country. A multi-sectoral approach, of all stakeholders doing their part, will help us achieve the grid’s aspirational RE share of 35 percent by the end of the decade,” AboitizPower FVP Juan Alejandro Aboitiz said.

The partnership with AboitizPower is Wells Fargo’s first for geothermal energy.

“Renewable energy projects like Tiwi-MakBan are critical for helping

us do our part to curb the impacts of climate change,” said Nate Hurst, head of Social Impact and Sustainability for Wells Fargo.

Wells Fargo has been utilizing RE for its operations since 2017.

We have been taking deliberate steps in our sustainability journey, with utilities being one of our major focus areas. This marks an important additional step in that direction. The conversion of our newest site in Manila toward adopting renewable energy is in alignment with our consistent focus on increasing sustainable use of resources and development in our corporate properties,” Wells Fargo Philippines Head of Corporate Properties Edzel Reyes said.

AboitizPower is currently the country’s largest owner and operator of renewable energy based on installed capacity. Its brand of RE is called Cleanergy. “Wells Fargo’s pro-active support for Cleanergy is a good example of how environmentally-conscious corporations can strengthen their sustainability programs, and help build the market for renewables in the Philippines,” Aboitiz said. Lorenz S. Marasigan

mutual funds

March 1, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 216.26 -4.52% -9.04% -1.79% -4.82% ATRAM Alpha Opportunity Fund, Inc. -a 1.3119 10.59% -6.36% 3.79% -0.08% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9811 -5.91% -13.08% -3.45% -4.85% Climbs Share Capital Equity Investment Fund Corp. -a 0.7635 -2.91% -8.21% n.a. -5.03% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6924 -9.69% n.a. n.a. -6.63% First Metro Save and Learn Equity Fund,Inc. -a 4.7004 -2.19% -6.84% -1.25% -4.88% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6948 -8.29% -10.37% -6.59% -8.55% MBG Equity Investment Fund, Inc. -a 98.8 5.96% -5.46% n.a. -3.08% PAMI Equity Index Fund, Inc. -a 44.502 -2.44% -7.22% -0.15% -5.01% Philam Strategic Growth Fund, Inc. -a 465.25 -3.06% -7.16% -0.94% -4.85% Philequity Alpha One Fund, Inc. -a,d,5 1.0422 10.86% n.a. n.a. -5.02% Philequity Dividend Yield Fund, Inc. -a 1.1159 -3.61% -6.79% -0.16% -4.48% Philequity Fund, Inc. -a 33.1782 -2.38% -6.65% 0.54% -4.58% Philequity MSCI Philippine Index Fund, Inc. -a 0.8632 -5.05% n.a. n.a. -5.45% Philequity PSE Index Fund Inc. -a 4.554 -2.05% -6.72% 0.58% -4.95% Philippine Stock Index Fund Corp. -a 761.92 -1.85% -6.6% 0.51% -4.96% Soldivo Strategic Growth Fund, Inc. -a 0.6912 -6.24% -10.33% -3.34% -3.85% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4521 -7.42% -8.65% -1.05% -4.74% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8718 -2.14% -6.9% 0.34% -5% United Fund, Inc. -a 3.1759 -3.7% -5.74% 1.41% -4.31% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 102.2434 -1.88% -6.4% 1.23% -4.94% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.3195 36.47% 5.57% 11.07% 9.69% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7402 29.23% 10.01% n.a.

4.03% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6505 9.28% -3.21% -0.29% -1.08% ATRAM Philippine Balanced Fund, Inc. -a 2.2047 7.31% -3.17% 0.9% -3.53% First Metro Save and Learn Balanced Fund Inc. -a 2.5351 1.67% -2.49% -0.32% -3.5% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1909 -7.46% n.a. n.a. -3.88% NCM Mutual Fund of the Phils., Inc. -a 1.9291 2.03% -0.64% 1.79% -1.78% PAMI Horizon Fund, Inc. -a 3.643 1.49% -1.88% 0.78% -3.83% Philam Fund, Inc. -a 16.3505 1.83% -1.8% 0.78% -3.46% 1.32% Solidaritas Fund, Inc. -a 2.0366 -2.81% 0.65% -2.75% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4675 -3.4% -4.42% -0.33% -2.96% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9773 1.67% n.a. n.a. -4.43% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8957 -1.91% n.a. n.a. -5.64% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8833 -2.26% n.a. n.a. -5.34% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8571 -3.89% -5.22% -1.02% -3.45% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03818 -2.97% 2.76% 1.52% -2.4% 6.95% PAMI Asia Balanced Fund, Inc. -b $1.1745 17.34% 2.94% 2.11% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.657 20.19% 7.64% 9.43% 3.19% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2077 8.7% 3.92% n.a.

0.47% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 371 3.17% 3.22% 2.63% -0.02% ATRAM Corporate Bond Fund, Inc. -a 1.9046 -0.26% 0.61% 0.15% 0.23% Cocolife Fixed Income Fund, Inc. -a

3.2167 2.41% 4.23% 4.61% 0.06% Ekklesia Mutual Fund Inc. -a 2.2537 0.48% 2.3% 1.75% -1.84% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4285 2.46% 3.14% 1.91% -1.01% 2.48% Philam Bond Fund, Inc. -a 4.5205 4.36% 2.26% -2.46% Philam Managed Income Fund, Inc. -a,6 1.3193 4.68% 4.35% 2.67% -0.14% Philequity Peso Bond Fund, Inc. -a 3.9637 4.41% 4.31% 2.55% -0.93% Soldivo Bond Fund, Inc. -a 1.023 4.77% 4.05% 1.97% -1.82% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1832 2.67% 4.55% 2.97% -0.71% Sun Life Prosperity GS Fund, Inc. -a 1.7383 1.85% 3.86% 2.35% -0.95% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $482.72 2.23% 2.99% 2.61% -0.24% ALFM Euro Bond Fund, Inc. -a Є219.33 -0.83% 1.02% 1.24% 0.07% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2179 -0.18% 2.88% 2.02% -4.88% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 -0.77% 1.46% 1.12% -3.01% PAMI Global Bond Fund, Inc -b $1.0722 -4.05% 0.8% -0.21% -1.88% Philam Dollar Bond Fund, Inc. -a $2.4704 0.04% 4.36% 2.58% -2.57% Philequity Dollar Income Fund Inc. -a $0.0624738 2.54% 3.21% 2.27% 0.25% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1154 -5.06% 1.95% 1.28% -3.36% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 130.03 2.76% 3.32% 2.56% 0.17% First Metro Save and Learn Money Market Fund, Inc. -a 1.049 1.64% n.a. n.a.

0.09% Sun Life Prosperity Money Market Fund, Inc. -a 1.2992 2.23% 2.92% 2.59% 0.2% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0542 1.34% 1.77% n.a.

0.17% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1897 n.a. n.a. n.a. 5.32% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.98 0% n.a. n.a.

0%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019.

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Six tips before investing

T

HE year 2020 has been an arduous year for all of us.

Around the globe we experienced community quarantines resulting to the closure of a lot of businesses. We have read in the news that even billionaires are faced with a lot of profit losses.

We can say that we are all in the same boat. This pandemic redefined the meaning of stability. We need to adapt, innovate and pivot in order to thrive and not just survive.

As we face a health and financial crisis, there are still opportunities around us. As the adage says, there are opportunities amidst adversities.

And some of you guys are asking is it good to invest at this season? Looking back at the historical of the stock market, we can see that in every crisis, we can also position our investment. Combined with fundamental, technical analysis and risk management, we can capitalize and ride the recovery of the economy.

With or without pandemic, here are some of the parameters that you should consider before investing: 1. Create a financial roadmap.

Before investing, sit down and take a look at your current financial condition. Ask help from a professional to guide you since there are also risks involved in investing, it should be done with due diligence and wise decisions.

2. Evaluate your risk tolerance. Each financial instrument has a unique risk-reward benefit.

Depending on your goals, you can consider instruments such as the stock market, balanced fund, mutual funds or other tools that can help you achieve your goals.

3. Diversify your investments.

Placing your investments in different platforms can help you manage the risk and return since the market may fluctuate from time to time.

4. Create and maintain and emergency fund. This fund can be around three months to six months of your monthly income. An emergency fund can help us in times of unforeseen situations without withdrawing our investments.

5. Avoid overpromising platforms and/or tools. There are lots of groups that will share overpromising return which could be fraudulent.

Before investing always be diligent and do necessary research to be sure that the company legitimate.

6. Get protected from life risks. Income protection is very important because it will cover the needs of our family members in the event of sickness, accident or untimely demise. Cost of insurance is lower compared to the benefits that we can get. If you have not protected yourself, the money invested can be needed and withdrawn and will defeat its purpose. Protection goals

Karlo Biglang-Awa

personal finance should be set up before you set up your money in investing.

Establishing your “why” behind your investments will help you in creating strategies.

One of the investments that you may consider is the stock market.

Nowadays, we can access investing platforms through online brokers here in the Philippines such as COL financial, First Metro Securities, BPI Trade, BDO Nomura, Philstocks and many more.

Aside from investing in direct stocks, investors can also access mutual funds. if you are quite busy in your work and/or business, you may choose in this kind of investment so you can leverage on the skills of fund managers.

Once you’re invested in stocks, for sure, you may consider investing in real estate properties. It’s a good way to create passive income for our retirement years. This is something that we can also pass to the next generation as most millionaires and billionaires love real estate. Look for developing areas where businesses will soon base their offices such as nearby areas of Metro Manila like Bulacan, Pampanga, Cavite and Laguna.

As we all look forward for the “Build, Build, Build” project of the government, we can see that the main islands of our countries will be soon connected to one another.

As of this moment, big developers are also building townships in the Visayas (Cebu, Iloilo, Bacolod) and Mindanao (Davao) area.

Despite of the challenges last year, our economy is slowly opening and private organizations are hopeful to regain profits this 2021. I personally believe that the progress of our country is at hand as we help one another reach our goals. There’s no specific investing formula for all. Conduct due diligence because during this season there are also scammers.

Make sure to invest in reputable and established companies. Know what particular industry you want to invest in. Again the principle behind what we are doing is about stewardship, because God entrusted us resources, the goal is grow it for a bigger purpose. At the end of the day, whatever we have is from God and we can use it for His purpose.

Karlo Biglang-awa is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 88th RFP program this March 2021. To inquire, e-mail info@ rfp.ph or text at 0917-6248110.

BSP Gov. Diokno delivers ‘Ulat ng BSP sa Bayan’

Bangko Sentral ng Pilipinas Governor Diokno speaks during the “Ulat ng BSP sa Bayan” at the Philippine International Convention Center last February 19. Photo courtesy Bangko Sentral ng Pilipinas

C

entral Bank Governor Benjamin E. Diokno underscored that digitalization has kept the gears of the economy running amid the pandemic in the “Ulat ng BSP sa Bayan” he delivered from the Philippine International Convention Center.

“Digitalization is among a few things that helped us continue with our daily lives during the pandemic,” Diokno said in his speech.

“The current crisis has given us an opportunity to think out of the box and be bold, as we work to pro-

tect the interests of the people we serve,” he added.

Themed, “Ibangon natin ang ekonomiya, i-digital mo na!,” the report was transmitted through an online platform and was also viewed by stakeholders via the social media page of the Bangko Sentral ng Pilipinas (BSP).

“Ulat” also served as a venue for the launch of the BSP’s books: “BSP Unbound: Central Banking and the Covid-19 Pandemic” and “No One Left Behind: The Philippine Financial Inclusion Journey.”

Tuesday, March 2, 2021 B3

Despite rate spikes, T-bills continue to lure investors

D

By Bernadette D. Nicolas

@BNicolasBM

ESPITE the spike in rates across all tenors due to higher inflation expectations in February, the Bureau of the Treasury (BTr) on Monday fully awarded P20 billion in Treasury Bills (T-bills).

While the auction was still oversubscribed as total tenders reached P41 billion, which was more than twice the offer, this was still lower than the total bids in previous auctions.

The 91-day T-bills average rate jumped to 1.04 percent, up by 16.5 basis points from 0.875 percent in the previous auction last week. Total bids reached P7.595 billion, higher than the P5-billion offer.

Meanwhile, the 182-day T-bills average rate climbed by 15.9 basis points to 1.226 percent from only 1.067 percent previously. Bids for the security amounted to P8.462 billion, exceeding the P5-billion offer.

For the 364-day T-bills, the average rate surged to 1.68 percent, a 15.3

basis-point increase from last week’s 1.527 percent. Total tenders for the tenor hit P24.995 billion, twice the P10-billion offer.

National Treasurer Rosalia V. De Leon refused to comment on what pushed the rates up. De Leon told reporters the BTr did not open the tap facility auction for any of the tenors.

Rizal Commercial Banking Corp.

(RCBC) Chief Economist Michael L. Ricafort told the BusinessMirror that markets are pricing in “relatively higher inflation” due to damage caused by Typhoon Auring (Dujuan), higher global crude oil prices at new 13.5 month highs, major global commodity prices at 8-year highs, as well as the “weakest” peso-US dollar exchange rate in about four months.

Last Friday, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said he expects inflation to have hit 4.7 percent in February.

The expectation is at the higher end of the 4.2-percent actual inflation print in January and above the BSP’s 2-percent to 4-percent target range for the year. It will also be the fastest inflation rate for the country since December 2018 when inflation hit 5.1 percent.

The Philippine Statistics Authority is set to release the country’s official February inflation data on Friday, March 5.

Apart from higher inflation expectations, Ricafort also pointed out that the rise in T-bill yields came amid the ongoing 3-year Retail Treasury Bond offering, scheduled up to March 4, 2021 “that could siphon off some of the excess liquidity from the financial system.”

De Leon said last week that Tbill yields went up as it tracked the movement of US government securities with the market anticipating the passage of a $1.9-trillion stimulus package.

For this month, the BTr programmed to borrow a total of P160 billion from the local debt market.

Finance officials expect national government debt this year to reach

57 percent of gross domestic product (GDP) as the country aims to borrow a total of P3.03 trillion, roughly the same amount it borrowed last year.

The Duterte administration has since ramped up borrowings to finance the expected higher budget deficit as it grapples with the economic recession.

The government posted last year a record-high outstanding debt of P9.795 trillion and a 14-year-high debt-to-GDP ratio of P54.5 percent.

This came a year after the country recorded an outstanding debt level of P7.73 trillion as it snatched a historic low debt-to-GDP ratio of 39.6 percent.

The national government’s fullyear budget deficit in 2020 also soared to a new record-high at P1.37 trillion, marking the first time since 1986 that it breached a trillion-peso mark.

The Treasury said the wider fiscal gap in 2020 resulted from rampedup state spending despite reduced tax revenue collections.

As a percentage of GDP, the Duterte administration’s full-year 2020 budget deficit also reached an unprecedented 7.63 percent, even eclipsing the 5.02 percent recorded in 2002.

‘Large-scale tax evasion is economic sabotage’

By Jovee Marie N. dela Cruz @joveemarie

T

HE chairman of the House Committee on Ways and Means on Monday said at least P30 billion is lost in tax revenues due to illicit trade in cigarettes.

With this, House Committee on Ways and Means Chairman Joey Sarte Salceda said they are considering defining large-scale tax evasion as economic sabotage.

“Now that we know the importance of reliable revenue streams during this pandemic, large-scale tax evasion is definitely economic sabotage. The law has to reflect it,” Salceda said in a statement following his committee’s motu proprio hearing.

Salceda also urged the Bureau of Internal Revenue (BIR), the Bureau of Customs (BOC) and the Philippine Economic Zone Authority (PEZA) to crack down on illicit trade on

cigarettes.

“I want a crackdown on the illicit cigarette trade. We are losing P30 billion annually due to this, from the laxity of enforcement,” the lawmaker said.

Salceda said it was also found that ecozones are used as avenues for illicit trade due to loose enforcement rules.

Open to audit

FOR her part, Peza DirectorGeneral Charito B. Plaza said her agency “cooperates with the BIR and allows them to conduct inspections.” Plaza said ecozones are also open to audit.

Salceda requested Plaza a report on the accomplishments and activities of the PEZA police, particularly enforcement activities against illicit trade in cigarettes.

“It is not enough that PEZA cooperates with BIR. You have an ecozone

police. You have the mandate to enforce the law in ecozones,” the lawmaker said.

Salceda said he will study potentially having a ring-fenced regime or “licensed area” for highly-regulated products so that they are not commingled with less-regulated industries in the same ecozones.

“We will definitely come up with legislated solutions after this hearing. Stricter enforcement is absolutely critical, so the policy fix will involve closing the loopholes that lighten enforcement,” the lawmaker added.

Salceda said he is invoking his oversight powers “to have the BOC conduct a program similar to the ‘Run Against Tax Evaders’ of the BIR.”

Unique ID code

Salceda asked the BIR to reverse Revenue Regulation 9-2015, which exempted cigarette manufacturers from tax stamps for exports. In-

stead, he wants the BIR to require them to have unique identification codes (UIC).

“This [regulation] is the mother law of smuggling,” the lawmaker said.

According to Salceda, given that it relies on self-declaration and regulation, it is highly-prone to abuse especially in a highly-regulated product.

“It’s a regulated product. And a violation of tax and trade rules on cigarettes is a malum in se; it is bad on its own. So, we have to be stricter with the regulatory pressure. We are very strict with crude. Cigarettes are also excised. The push of the thumb should be just as strong,” the solon said.

In response, BIR Commissioner Caesar R. Dulay promised, “on his word of honor,” he will have the policy amended.

“We will do that, absolutely; we will reverse it,” Dulay said.

A.I. tools enable alternatives to underwriting loans

By Tyrone Jasper C. Piad @Tyronepiad

S

OCIAL media behavior and online footprint can be incorporated in the underwriting process of loans extended by digital banks and mobile lending applications through artificial intelligence (AI), a Singapore-based big data firm said.

Digital banks and financial technology (fintech) platforms are generally designed to reach out to the unbanked sectors in order to promote financial inclusion. The unbanked population, however, usually do not have a credit history to support loan applications.

Thanks to technological advancements such as AI, an alternative credit profiling process is seen helping the unbanked segment apply for the muchneeded financing, Advance Intelligence (Advance.Ai) Pte. Ltd. Regional Sales Director Aradhna Sharma told the BusinessMirror in an interview.

How often an email address and a mobile number are being used is a potential metric for loan approvals, she explained, noting this is part of the identity verification of the borrower.

“If you are registering with an email address, there are services that can determine when the email address was created by crawling through the web,” Sharma explained.

Tracking behavior

THE activities of the email address, such as logins in websites and purchases online, can be tracked to make sure that the email is valid. If there is not much usage, she said that it is potentially a red flag.

“With Advance.Ai, we’re able to check the status of telephone. Is it currently working? Is it offline? Is it switched off?” she added, explaining that checking such conditions will help the financial institutions verify whether the mobile number is fake or not.

There is also a search tool that enables the digital banks and fintech platforms to search for a person’s personal details such as name and birth of date and indication of online footprint, Sharma explained.

Tracking a borrower’s online behavior, she said, can help in determining the potential credit risk.

“What these innovative solutions are trying to do is to assist you in collating the data that is already available to help you create credit profile online that makes it easy for you to get accepted loans,” Sharma explained.

Consent is key

SHARMA explained that all the information collated by the AI tools are publicly available.

“The truth of the matter is, with so much activity happening online, your information is already being collected

through apps you use, through Google, through GPS [global positioning system],” she said. “It is not that it actually isn’t collected; it’s just that it’s not currently being utilized in a way to help you.”

Still, Advance.Ai stressed that the borrowers should be able to understand what they are consenting to when applying for a loan digitally. Sharma said clients must be aware that their public online data are being harnessed to build their credit profiles. The borrowers should be given the option to call upon an online service provider to explain vague items in the terms and agreements of loans before signing the deal, she said. Sharma said digital banks should “provide evidence that it [loan agreement] was communicated to the customer and the customers accepted and provided consent.”

It can be done through having the borrowers place their e-signature in each section of the borrowing agreement, acknowledging every term of the loan, she explained. Sharma said that the loan process could also be part of the electronic “know-your-customer” portion.

Digital banks, she said, must also be able to draw a line when data gathering is deemed excessive already. “There needs to be obviously some law that protects data privacy,” Sharma added.

Data management

THE company also highlighted the importance of data management strategy

for the digital banks, with Sharma explaining that it is the organizations’ roadmap.

“This roadmap ensures that all the activities surrounding data management, which includes from collection to collaboration of data, are able to work together effectively and efficiently and useful as possible to the government [for audits and reporting],” she explained.

Sharma enumerated two classifications of data management strategy: defensive and offensive.

Defensive is “about minimizing the downside risks, ensuring compliance with the regulations...and building systems to avoid theft,” she explained. “Data offense focuses on supporting business objectives, such as increasing revenues, profitability, customer satisfaction.”

“We guide our clients towards adopting a framework that not only promotes efficient use of data and allocation of resources for example, but also help organizations design their data management activities to support the overall business goals,” Sharma said.

In November last year, the Bangko Sentral ng Pilipinas released the Digital Banking Framework, recognizing digital banks as a new bank category. Digital bank applicants, according to the regulator, should be able to have effective data management strategy and practices, apart from sound digital governance and secure technology infrastructure.

B4

Art

BusinessMirror

Tuesday, March 2, 2021 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Today’s Horoscope

❷

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Bryce Dallas Howard, 40; Method Man, 50; Daniel Craig, 53; Jon Bon Jovi, 59.

Happy Birthday: Emotional spending will not help you get ahead this year. Personal improvements through exercise, proper diet and a healthy lifestyle will help you maintain a strong and healthy attitude and the physical strength to reach your goal. Strive for perfection and kindness, and implement solutions to pending problems that are holding you back. Romance is encouraged and will enhance your life. Your numbers are 8, 12, 23, 29, 33, 37, 46.

a

ARIES (March 21-April 19): Align yourself with like-minded individuals who can help you achieve your goals. Discuss your plans with your partner to ensure you are heading in a similar direction. Eliminate interference before challenges overwhelm you. Open conversations will offer insight.

HHH

❶ ❶ Class

Picture, Nika Dizon, 2021, acrylic on canvas, 48”x48”

❷ Single

Seating Cinema, Paola Germar, 2021, hand-cut textile strips, 35.8”x24.4”

❸ In-House

❸

Sugarcoated realities in twin solo exhibits

Treasure Hunting, Paola Germar, 2021, handcut textile strips, 35.8”x24.4”

W

HAT passes at first glance as an innocent, surrealist depiction of a class picture of white-uniformed students reveals a grim element at closer inspection. Lurking in the background over the shoulder of one subject with a splitting face is the personification of death, its head tilted toward the direction of the unsuspecting young girls and its hallow eyes darted at their souls.

While the subjects’ pose and the artwork’s title itself suggest the common photo-shoot practice, something feels amiss, judging by the long faces and disoriented eyes. Are the girls obeying the photographer’s command to look at the camera, or are they consciously looking ahead and away from the

darkness after them?

Nothing is what it seems in Nika Dizon’s Class Picture. By extension, nothing is what it appears to be in the show that features the piece, Safe Space, nor in its concurrent solo exhibition, Paola Germar’s It’s Still Life, which both opened on Sunday at Kaida Contemporary Gallery.

Through candy-colored pieces and even literal candies and cake installations, the two exhibitions draw viewers with saccharine appeal that coats the bitter realities of today’s world, from myriad social inequalities to the threat of sickness and death amid the global health crisis.

According to Kaida Contemporary gallery assistant Elle Lucena, their new pair of solo exhibitions feature two young and up-and-coming women who are known for their playful use of bright and vibrant colors.

“I think this change in tone is very important nowadays as the end of the pandemic still remains rather distant,” Lucena said. “The works, while touching on topics like social inequality, still manage to provoke and stimulate the senses. Simply put, the works are fun, engaging, and a breath of fresh air.”

For her debut solo show, Dizon offers treats beyond oil paintings. She whipped up cakes, popsicles, and lollipops using plaster and resin, all dipped in sweet

c d

GEMINI (May 21-June 20): Stick to the truth; offer only what you know you can supply. Learn from the experiences you encountered in the past, and you will avoid a no-win situation. HHHHH

colors and neatly laid out on a long table and a glass cabinet. When the visual sugar rush passes, however, the edges of razor blades and knives inside the assortment of snacks and desserts come into sharp focus.

Also marked with playful mischief and the balance of inviting colors and threatening premise are the works of Paola Germar. The artist has always displayed a penchant for toying with skeleton characters and the theme of death, making the ideas dance and socialize in lively settings. At a time when death has become a pressing, everyday concern for most people, Germar reaches out to her usual subjects yet again.

In It’s Still Life, the artist explores the ways how we have adapted to these most unusual times, when the past year in quarantine feel like a millennium and a blink at once. Germar portrays people stuck at home, such as in Single Seating Cinema and In-House-Treasure Hunting. Both pieces showcase skeleton figures that come to life to the touch, much like a mosaic, through the artist’s use of hand-cut textile strips.

It’s Still Life by Paola Germar and Class Picture

by Nika Dizon are on view until March 16 at Kaida Contemporary at 45 Scout Madriñan Street, South Triangle, Quezon City. n

CANCER (June 21-July 22): Personal improvement will encourage the confidence to follow through with a long-term professional plan. Changing your direction or associating with people in a field that interests you will lead to better opportunities. HH

e

LEO (July 23-Aug. 22): You have more options than you realize. Stop letting someone make decisions for you. Start trusting in your ability to get things done. Added discipline, a desire to achieve and new opportunities are apparent. HHHH

f

VIRGO (Aug. 23-Sept. 22): Someone from your past will have an impact on your life.

Make the changes that will bring you closer to the glee you deserve; moderation, a minimalist lifestyle and a change of heart will contribute to better health and happiness. HHHH

g

LIBRA (Sept. 23-Oct. 22): Discipline will make a difference to the outcome of a situation you face with a close friend or relative. Speak up, make a difference and do what’s necessary to get others to take note and do what’s right. HHH

h

SCORPIO (Oct. 23-Nov. 21): Pay attention to what’s going on with a friend or relative.

Protect your home and family from those not following the rules or creating risk factors. Pay more attention to someone you love, and make romance and self-improvement priorities. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): A disciplined approach to your responsibilities will pay off. Listen to the facts, and don’t lose sight of what’s real and what isn’t. Break away from people who are trying to undermine or manipulate you. HHHH

j

CAPRICORN (Dec. 22-Jan. 19): An unexpected change you encounter will require an instant response. Protect your home and family against perpetrators or those who present a risk. Take a unique approach to the way you handle your money and professional responsibilities. HH

‘A Long Road to Dignity’ a virtual exhibition Filipinas Heritage Library and Rick Rocamora, in partnership with Horacio “Howie” Severino, present A Long Road To Dignity, a virtual multimedia exhibition on WWII veterans on February 18 onwards.

A Long Road to Dignity, a virtual multimedia exhibition, features the documentary work of acclaimed photographer Rick Rocamora.

It pairs his photos with 1940-1945 images of Filipino soldiers from Filipinas Heritage Library’s Retrato Photo Archive and Roderick Hall Collection. Together they portray Filipino veterans’ wartime experiences and a long struggle linked to the Rescission Acts of 1946.

Supplemented with audio and video

b

TAURUS (April 20-May 20): Take care of business before someone in charge complains. Control your emotions, set your sights on what’s important and don’t let what others do interfere with your plans. Your actions will be what’s remembered, not your words or empty promises. HHH

materials from the Filipino Veterans Recognition and Education Project and filmmaker Howie Severino’s Little Brown Man in San Francisco (1999-2001), the exhibition highlights the Filipino veterans’ contributions to rights movements in America and in the motherland. It brings into focus how veterans value themselves, striving to keep a dignified existence in the face of aging.

A photography book with the same title as the current exhibit will be available soon at the Ayala Museum Online Shop. With a foreword by Lourdes Tancino and an essay by John Labella, the book features Rocamora photos selected by the photographer himself.

k

AQUARIUS (Jan. 20-Feb. 18): Take your time, and look for investments, deals and opportunities that will encourage stability and financial security. Don’t make changes based on what someone else does. HHHHH

l

PISCES (Feb. 19-March 20): Take the high road, regardless of what others do or say.

Follow your heart. Use the knowledge you have gathered to make a suitable decision regarding work, money and your health. A change of plans will alter the way you live. HHH Birthday Baby: You are patient, impressive and forceful.

You are encouraging and compassionate.

‘shore thing’ by kathy wienberg The Universal Crossword/Edited by David Steinberg

ACROSS 1 Chip with toppings 6 Embassy employee 13 Loud noisemaker 15 Knights ___ (Catholic crusaders) 16 Makes happy 17 Wardrobe fresheners 18 Legume that sounds like a letter 19 Make very happy 21 “No ___, ands or buts!”

22 Used to be 23 The “R” of BART 26 About 30 percent of Earth’s land 29 One Night in Miami star Goree 31 Where a pop-up may send you 35 Emerald or aquamarine 37 Love, in Italian 39 Price add-on 40 Fertility lab eggs 41 Arrivals of notable things 43 Bit of gear for a cross-country trip?

44 Stimpy’s pal 45 Dough raiser 46 Domesticates 48 Inconsequential matter 50 Pull to a garage

2 Period before Easter 5 53 Memory failure 55 Silent communication syst.

57 Altar vow 59 Bert’s friend 61 Afternoon snooze 64 Proportionately 67 Far from forthcoming 69 Turtle candy ingredient 70 Diabolical 71 Coastal region, or what each starred answer has?

72 Holy council DOWN 1 River in Egypt 2 The “A” of BART 3 With some of 4-Down and all of 22-Down, shoo 4 Book after Daniel 5 End of an ultimatum 6 Befuddled 7 With some of 6-Down and all of 24-Down, disentangle 8 Film lover’s network 9 Ladybugs’ prey 10 Staff symbol, in music

1 Thrown into a metaphorical ring 1 12 Trauma ctrs.

13 Tablet download 14 Code-cracking org.

20 Three-month period 22 Technique 24 Role 25 Latin for “that is” 26 Scrub, as a mission 27 Cut off 28 Persian, today 30 It may cool into obsidian 32 Response to “Who’s there?”

33 Spoken for 34 Be 36 Woman in a Derek and Dominos hit 38 Aware of 42 With some of 54-Down and all of 66-Down, well-established 47 With some of 56-Down and all of 68-Down, versatile type of tire 49 Groups of plants 51 Relinquishes 54 Black Panthers cofounder Bobby 56 Disreputable 57 “Dies ___” (hymn)

8 Explorer on Nick Jr. 5 60 His home is next to Homer’s 61 El ___ (cause of disrupted weather) 62 Fired up 63 Ab’s neighbor 64 Some laptops 65 Parisian pal 66 Actor Danson 68 “My boy” Solution to Friday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Tuesday, March 2, 2021

B5

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❷

❶

‘Nomadland,’ ‘Borat,’ ‘The Crown’ win at bicoastal Globes

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By Jake Coyle The Associated Press

EW YORK—With homebound nominees appearing by remote video and hosts Tina Fey and Amy Poehler on different sides of the country, a very socially distanced 78th Golden Globe Awards trudged on in the midst of the pandemic and amid a storm of criticism for the Hollywood Foreign Press Association, with top awards going to Nomadland, Borat Subsequent Moviefilm, The Crown and Schitt’s Creek.

The night’s top award, best picture drama, went to Chloé Zhao’s elegiac road movie Nomadland, a Western set across economic upheaval and personal grief.

Zhao, the China-born filmmaker of, became the first woman of Asian descent to win best director. She’s only the second woman in the history of the Globes to win, and the first since Barbra Streisand won for Yentl in 1984.

With a canceled red carpet and stars giving speeches from the couch, Sunday’s Globes had little of their typically frothy flavor.

Facing scant traditional studio competition, streaming services dominated the Globes like never before—even if the top award went to a familiar if renamed source: Searchlight Pictures, formerly the Fox specialty label of 12 Years a Slave and The Shape of Water now owned by the Walt Disney Co. Amazon’s Borat Subsequent Moviefilm—one of the few nominated films shot partly during the pandemic—won best film, comedy or musical. Its star guerilla comedian, Sacha Baron Cohen, won best actor

in a comedy. Referring to Rudy Giuliani’s infamous cameo, Cohen thanked “a fresh new talent who came from nowhere and turned out to be a comedy genius.”

“I mean, who could get more laughs from one unzipping,” said Cohen.

Netflix, which came in with a commanding 42 nominations, won the top TV awards. The Crown, as expected, took best drama series, along with acting wins for Josh O’Connor (Prince Charles), Emma Corrin (Princess Diana) and Gillian Anderson (Margaret Thatcher). The Queen’s Gambit won best limited series, and best actress in the category for Anya Taylor-Joy. Schitt’s Creek, the Pop TV series that found a wider audience on Netflix, won best comedy series for its final season. Catherine O’Hara also took best actress in a comedy series.

Chadwick Boseman, as expected, posthumously won best actor in a drama film for his final performance, in the August Wilson adaptation Ma Rainey’s Black Bottom—a Netflix release. Boseman’s wife, Taylor Simone Ledward, tearfully, emotionally accepted the award.

“He would thank God. He would thank his parents.

He would thank his ancestors for their guidance and their sacrifices,” said Ledward. “He would say something beautiful, something inspiring.”

Apple TV+ scored its first major award when a sweatshirt-clad Jason Sudeikis won best actor in a comedy series for the streamer’s Ted Lasso.

Fey took the stage at New York’s Rainbow Room while Poehler remained at the Globes’ usual home at the Beverly Hilton. In their opening remarks, they managed their typically well-timed back-and-forth

despite being almost 3,000 miles from each other.

“I always knew my career would end with me wandering around the Rainbow Room pretending to talk to Amy,” said Fey. “I just thought it would be later.”

They appeared before masked attendees but no stars. Instead, the sparse tables—where Hollywood royalty are usually crammed together and plied with alcohol during the show—were occupied by “smoking-hot first responders and essential workers,” as Fey said.

In a production nightmare but one that’s become familiar during the pandemic, the night’s first winner accepted his award while muted. Only after presenter Laura Dern apologized for the technical difficulties did Daniel Kaluuya, who won best supporting actor for his performance as Black Panther leader Fred Hampton in Judas and the Black Messiah, get his speech in. When he finally came through, he waged his finger at the camera and said, “You’re doing me dirty!”

Pandemic improvising was only part of the damage control for the Hollywood Foreign Press Association, which puts on the Globes. After the Los Angeles Times revealed that there are no Black members in the 87-person voting body of the HFPA, the press association came under mounting pressure to overhaul itself and better reflect the industry it holds sway in.

This year, none of the most acclaimed Blackled films—Ma Rainey’s Black Bottom, One Night in Miami, Judas and the Black Messiah, Da 5 Bloods—were nominated for the Globes’ best picture award. With the HFPA potentially fighting for its Hollywood life, Sunday’s Globes were part apology tour. Fey and

Nasser Lubay’s philosophy of color

ACCLAIMED Philippine visual artist Nasser Lubay is part of the ongoing intimate group exhibition, titled The Philosophy of Color, a collaborative presentation of the Gajah Gallery Singapore and Modeka Art Philippines.

Lubay joins Canada’s Peter Yuill and Indonesian artists Rosit Mulyadi and Dini Nur Agina in this special show that explores the use of pigmentation through the works of these four artists, each of which represents their own reflections on color.

The pride of Candelaria town in the province of Quezon, Lubay is a self-taught artist whose career story has inspired many in the art world. With parents working overseas during his growing up years, Lubay created art with whatever resources he could get his hands on.

He lived with relatives in farms and mountains sides, and took inspiration from animals, insects, greens, lakes and plantations where he created his own field of dreams in his mind. “I always followed my intuition and trusted the inner voices I hear when I start creating something. So when I combine colors, hues and shapes, I almost always do not follow tint theories. I’d rather go for balance, harmony and symmetry. I get excited with out of the box blending and experimental combinations.”

As a little boy, he grew up mastering creative visualization, years before he stumbled on the term and made use of it. “I’d look up the sky and see clouds and rays of sunshine and flying planes. I’d draw them and secretly wish that I’d be riding planes in the

future, bringing me to places and wonderlands I had never seen. I guess that started my own version of the law of attraction,” he shared.

After scoring his big win at the prestigious Celeste International Art Prize with his entry Rebirth in Germany in 2009, his promising career went on an upswing, and invitations to participate in shows and exhibitions all over the globe came in one after the other. He was chosen as a young ambassador for the arts of the giant food chain Jollibee.

He represented the Philippines at the Animamix Biennial at the Museum of Contemporary Art in Taipei. His works have traveled the exhibition halls of Florence, Italy; Kuala Lumpur, Malaysia; Berlin, Germany, and many other prime cities.

He became part of the Ondarte International Artist Residency in Mexico where he spent months creating works inspired by the colors of nature and the vast ocean. “The colors of the universe are the sources of my imaginary world, of both my conscious and subconscious minds. I like telling stories in my

Poehler started in quickly on the issue.

Within the first half hour of the NBC telecast, members of the press association also appeared on stage to pledge change. “We recognize we have our own work to do,” said vice president Helen Hoehne.

“We must have Black journalists in our organization.”

Lee Isaac Chung, writer-director of the tender Korean-American family drama Minari (a movie the HFPA was criticized for ruling ineligible for its top award because of its non-English dialogue), accepted the award for best foreign language film while his young daughter embraced him. “She’s the reason I made this film,” said Chung.

“Minari is about a family. It’s a family trying to learn a language of its own. It goes deeper than any American language and any foreign language. It’s a language of the heart,” said Chung. “I’m trying to learn it myself and to pass it on.”

John Boyega, supporting actor winner for his performance in Steve McQueen’s Small Axe anthology, raised his leg to show he was wearing track pants below his more elegant white jacket. Jodie Foster (The Mauritanian) won one of the biggest surprise Globes, for best supporting actress in a film, while, sitting on the couch next to her wife, Alexandra Hedison, and with her dog, Ziggy on her lap.

Jane Fonda, the Cecil B. DeMille Award honoree, spoke passionately about expanding the big tent of entertainment for all. “Art has always been not just in step in history but has lead the way,” said Fonda. “So let’s be leaders.” The Globes took place on the original date of the Academy Awards. Those will instead be held on April 25. n

MARIO MAURER ON GMA; NETWORK HEIGHTENS ONLINE PRESENCE

artworks through color.”

We asked him what his favorite color is, and he gazed out of the window immediately. “Hmmmm, I rarely get to be asked that question, and I must admit that it is a difficult one to answer,” he took a deep breath before continuing. “It was my esteemed Italian artist friend Luca Brye who told me that I seem to favor yellow because he sees a lot of yellow and gold and amber and saffron in my works. That was when I became aware that, perhaps, yellow is indeed a personal favorite. I also like blue. I get excited by the many wonderful shades of blue.”

Modeka Gallery describes Lubay’s new works as pieces that portray the remarkable feeling of a particular moment—a point in space and time that becomes extraordinary due to its lack of permanence.

So very like Nasser Lubay’s extraordinary, imaginary universe. n The Philosophy of Color runs until March 20. Private viewing can be arranged through info@modeka.space.

THAI actor Mario Maurer is once again set to make hearts flutter in the Lakorn series The Blooming Treasure, which begins airing on GMA on March 1.

It follows the story of a young, ambitious man named Win (Mario) who never cared about anything else than himself.

Because he is set to inherit a large sum of money from his grandfather, he grows up to be arrogant always blaming others for his shortcomings.

After the death of his grandfather, his will shocks Win as it states that he has to work in Pudchompoo’s chrysanthemum nursery, while the farm’s owner Pia (Toey Jarinporn) has to take care of his company for one year. Since she is indebted to his grandfather, whom she respects, she is forced to agree to the terms of his will, and their relationship develops from there. Will this young and optimistic lady help make a better man out of Win? The Blooming Treasure airs weekdays on GMA at 11:30 am, and on Saturdays at 10:45 am.

Meanwhile, viewers can laugh away the stress as GMA Entertainment Group’s comedy channel YouLOL makes online conversations more exciting and fun with its sticker pack now available on Viber. Since its official launch in May 2020, YouLOL has been recognized as the fastest-growing comedy channel in the Philippines with over 380,000 subscribers and still growing. The channel features hilarious live streams of GMA comedians, hip and trendy original videos, and ribtickling highlights from GMA shows.

Fans can now download YouLOL-themed stickers from the Viber Sticker Market which include relatable catchphrases and funny expressions from well-loved GMA shows and artists, making daily conversations with your friends and family even more colorful.

❶ TINA FEY (left) from New York, and Amy Poehler, from Beverly Hills, California, hosted the Golden Globe Awards.

❷ JODIE FOSTER

(left)holding her dog Ziggy, accepts the award for best supporting actress in a motion picture for The Mauritanian as her wife Alexandra Hedison looks on at right.

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JANE FONDA accepts the Cecil B. deMille Award at the Golden Globe Awards. PHOTOS: AP

B6 Tuesday, March 2, 2021

56th ANVIL: PRSP recognizes top winners in public relations tools and programs

Scenes Reclaimed: CCP 50 x Cinemalaya 15 Catalog Launch

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HE 56th ANVIL Awards, hosted by the Public Relations Society of the Philippines, recognized the most outstanding public relations tools and programs in the country in virtual ceremony held last February 19, 2021.

“The crucial role of public relations was reinforced during this health crisis. PR during crises connects communities. The PRSP, through its ANVIL Awards, recognized purpose-driven and impactful initiatives that promote corporate integrity and the social good across platforms,” said Ma. Luisa Sebastian, 56th ANVIL Chairperson.

ANVILs received a total of 534 entries but only 142 won.

Two levels of judging were done. The first level of judging was done by 65 PR and communication professionals. Five judges were assigned to evaluate each entry. Entries which scored 85 to 90 received Silver ANVILS while those that scored 91 to 100 bagged Gold ANVILS. The Gold ANVILS that scored 94 to 100 were endorsed to the second level of judging with a distinct Panel of Jurors composed of 11 representatives including selected past presidents of PRSP, academe, media, civil society and international organizations. Former Supreme Court Senior Associate Justice Antonio Carpio, Jr. acted as the Chairperson of the Panel of Jurors.

Given the times, distinct categories for COVID-related PR programs and tools, digital pr programs, digital PR tools, crisis or issues management for government were introduced. For the first time in ANVIL history, rubrics were used in judging nominations. The five-point rubrics

defined specific levels of achievement and helped ensure an objective evaluation of entries.

A total of 86 PR programs and 36 PR tools won Silver ANVILS while 12 PR programs and four PR tools bagged Gold ANVILS. The Grand ANVIL for the top public relations program was “The NESCAFE Plan: Transforming farmers into agripreneurs to create a sustainable and progressive coffee industry in the Philippines” by Nestle Philippines. The program provided farmers with technical assistance and training on best farming practices and entrepreneurship to distribute superior planting materials and offer a ready market for their coffee crop over several years of program implementation.

The Platinum ANVIL for the best public relations tool was “PLDT-Smart #CyberSmart Caravans: Promoting Cyber Security and Safety among Teachers and Students” for improving awareness, understanding, and behaviors on data privacy and security, online child safety and protection, and combatting fake news”.

Based on the tally of the total number of gold and silver trophies, PLDT-Smart was hailed as Company of the Year with 31 points while PAGEONE Group won the Agency of the Year with 28 points.

“Entries this year showed how PR and communication successfully addressed challenging issues during the pandemic with professional skills, creativity and resourcefulness. We congratulate all the winners. They serve as role models in our industry,” said PRSP President Norman Agatep.

Take advantage of online learning, civil servants told

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HE Cultural Center of the Philippines recently launched a publication entitled "Scenes Reclaimed: CCP 50 x Cinemalaya 15."

The catalog launch is in line with its 2019 exhibition "Scenes Reclaimed: CCP 50 x Cinemalaya 15", a joint project of the CCP Film, Broadcast and New Media Division and the CCP Visual Arts and Museum Division.

The rise of the Cultural Center of the Philippines (CCP) along Manila Bay set in motion a series of irrepressible reclamations that endure until today.

As a monumental construct whose final definition remains suspended, the CCP has served as both venue, a site for the contestation of the meaning of nation,

and avenue, a route for approaching the internal contradictions of and making progress toward national cinema. Its history, which has harbored opposing ideals of culture and witnessed the opposition of state and society, spans half of Philippine cinema’s first century.

Cinemalaya, emerging in 2005, was a practical and discursive outworking of these contending political and ideological strains.

Through images, objects, and motion pictures, the exhibit "Scenes Reclaimed" traced the interrogation of “independent” cinema in view of historical pursuits of freedom in the national narrative. This book, apart from serving as a catalog of the

exhibit, is also an educational material for Filipino students and makers of film, a compendium of keywords for a critical pedagogy of Philippine cinema.

To revisit "Scenes Reclaimed", the exhibit can be viewed at the third floor of the CCP Main Theater building in the 360 tour in the CCP website.

The publication "Scenes Reclaimed: CCP 50 x Cinemalaya 15" will be made available after the launch through the CCP Shop. CCP offers a 24-hour flash sale at P200.00 as launch price, and also P200.00 as exclusive price for the Film Society Members.

To purchase, visit https://www. facebook.com/theccpshop/ or email culturalcenterphshop@gmail.com.

Secret sANNEta gift packs distributed to moms and babies at PGH & PCMC

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IMBERLY-CLARK’S Huggies® brand, together with mom-anddaughter tandem Anne Curtis and baby Dahlia, have already made 2021 even more meaningful for Filipino families as they donated a total of 1,166 Secret sANNEta gift packs to moms and babies in need.

This remarkable gesture far exceeded the 1,000-donation goal set

last December 2020 during the Huggies’ Secret sANNEta Big Reveal; a Facebook Live event where Anne and baby Dahlia were formally welcomed to the Huggies family. It was also during this event that they introduced the special Buy 1, Get 1, Give 1 promo. Every purchase of one case of Huggies Dry Pants is bundled with one Secret sANNEta gift pack that contained baby care essentials.

Huggies, in partnership with Anne and baby Dahlia, then promised to match every pack given and donate it to the partner hospitals of Anne’s foundation. Each pack came included with a pack of comfortable Huggies Dry Pants, one pack of Huggies wipes, two packs of Kleenex Facial Tissues, one roll of Kleenex bathroom tissue, and a Hugsy teddy bear.

The 1,166 Secret sANNEta gift packs were distributed to families from the Philippine General Hospital and the Philippine Children’s Medical Center.

Despite the challenges of the pandemic, Huggies continues to find ways to give comfort and care to moms and their babies, especially to those who need it the most. With Anne and baby Dahlia now joining them in this shared mission, they hope to continue providing moms and babies relief as they go through their motherhood journey during these challenging and uncertain times.

“As we are committed to be Filipinos’ trusted parenthood partner now more than ever, we constantly seek to understand moms and babies’ situation and support them in any way we can,” shares Brian Duruin, Head of Marketing, Kimberly-Clark Philippines, Inc. To date, Huggies has donated over 200,000 newborn diaper packs to children’s hospitals and maternity wards. They also launched the Huggies Club: Facebook Live, a fiveweek online forum series that aimed to guide and provide moms the reliable support system they need by connecting them to other moms and healthcare professionals to tackle relevant parenting topics and advice.

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HE Civil Service Commission (CSC) urged government officials and employees to take advantage of online learning during the COVID-19 pandemic to improve their work competencies.

The CSC said that the pandemic has driven many organizations to offer webinars and online training courses, making learning relatively more accessible, convenient, and affordable.

It added that it is important for civil servants to regularly enrich their knowledge or upgrade their competencies in order to meet expected performance levels and to continue delivering effective public service. Agencies are also responsible for establishing a learning and development (L&D) program that would address competency gaps in the workforce.

As a training institution for the public sector, the CSC has seen the need to fast-track the introduction of its e-learning program due to the consequences of the COVID-19 pandemic. In fact, it has been offering online courses since June 2020. Its Civil Service Institute (CSI) and Regional Offices are now using videoconferencing apps and social media to give webinars on civil service policies for government agencies, some of which are even free of charge.

Civil servants can also take relevant courses outside what the CSC offers. As of 18 October 2020, there are currently 37 private

learning and development institutions (ALDI) accredited by the CSI to complement the CSC’s L&D interventions for the bureaucracy.

To give civil servants a wider range of options, the CSC also recognizes government L&D institutions, non-accredited private institutions offering highly technical/ specialized training, internationallyacclaimed local institutions, those recognized by the Commission on Higher Education as a Center of Excellence or Center of Development, foreign institutions that offer L&D for scholarship purposes or for personal advancement, and others that partner with the CSC in building capabilities of civil servants.

The CSI regularly updates its list of ALDIs, which may be accessed from its website at csi. csc.gov.ph.

Rep. Villar seeks more job fairs to help worker

REP. Camille Villar

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ITH record unemployment and many Filipinos left without jobs brought by the impact of the pandemic, Deputy Speaker and Las Piñas Rep. Camille Villar believes the need for more virtual recruitment fairs is urgent in an effort to help displaced workers and everyone seeking a job.

Through House Resolution 1597, Villar urged the Labor department, Civil Service Commission (CSC) and other relevant state agencies to intensify online job fairs to further ease unemployment in the country, accelerate the economy and keep families afloat during the economic crisis.

"Various government agencies must innovate in generating job opportunities during the pandemic and health crisis," Villar said, pointing out that there is an increasing demand for virtual career platforms resulting from the pandemic.

Philippine unemployment rate soared to 10.4% last year or about 4.5 million Filipinos became jobless, the highest in 15 years, as thousands of establishments were forced to shut amid quarantines and plummeting activity. At one point, 7.2 million Filipinos were jobless in April 2020, the height of the government-imposed lockdown to contain the virus, while many more workers and businesses saw their incomes collapse.

Additionally, sectors with most displacements included manufacturing, transportation and storage, accommodation and food service, as well as the arts, entertainment and recreation.

"Virtual career platforms assist job applicants in finding unique opportunities and job vacancies," said Villar.

Over 21,000 jobs were available in an online job fair spearheaded by the Department of Labor and Employment and the Philippine Overseas Employment Administration with mynimo.com in December last year. A total of 600 domestic firms and 15 licensed recruitment agencies participated.

The CSC, for its part, also held an online job fair in coordination with Jobstreet.com.

"With vaccination in the country to rollout in the next few days and as the economy is expected to rebound and gradually reopens, a roadmap on employment, jobs and opportunities must be set in place, taking into consideration health protocols and government restriction on mass gatherings," she added.

Negros Rep. Jose Francisco Benitez (3rd District) also co-authored the resolution.

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

India giving Covid-19 vaccines to more people as infections rise

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EW DELHI—India is expanding its Covid-19 vaccination drive beyond health care and frontline workers, offering the shots to older people and those with medical conditions that put them at risk. Among the first to be inoculated on Monday was Prime Minister Narendra Modi.

Those now eligible to be vaccinated include people older than 60, as well as those over 45 who have ailments such as heart disease or diabetes that make them vulnerable to serious Covid-19 illness. The shots will be given for free at government hospitals and will also be sold at over 10,000 private hospitals at a fixed price of 250 rupees, or $3.40, per shot.

Modi, who is 70, got the shot at New Delhi’s All India Institute of Medical Science. He appealed for all to get vaccinated, tweeting afterward, “together, let us make India Covid-19 free!”

The country of nearly 1.4 billion people started one of the world’s largest vaccination drives in January, but the rollout has been sluggish.

New coronavirus infections are increasing again after months of consistent decline, and scientists have detected worrisome variants of the virus that they fear could hasten infections or render vaccines or treatments less useful. Vaccinating more people is a priority, with India’s Health Ministry on Sunday urging states “not to lower their guard” and “squander away the gains of the collective hard work of the last year.”

India has recorded more than 11 million cases, second in the world behind the United States, with over 157,000 deaths in the country from Covid-19.

Even though India is home to the world’s largest vaccine makers and has one of the biggest immunization programs, things haven’t gone according to plan. Of the 10 million health care workers that the government had initially wanted to immunize, only 6.6 million have gotten the first shot and 2.4 million have gotten both. Of its estimated 20 million front-line workers like police or sanitation workers, only 5.1 million have been vaccinated so far.

Dr. Gagangdeep Kang, an infectious diseases expert at Christian Medical College Vellore in southern India, said the hesitancy by health workers to be vaccinated highlights the paucity of information available about the vaccines. If health workers are reticent, “you seriously think that the common public is going to walk up for the vaccine?” she said.

India had set a target of immunizing 300 million people, nearly the total US population, by August.

The spike in infections in India is most pronounced in the western state of Maharashtra, where the number of active cases has nearly doubled to over 68,000 in the past two weeks. Lockdowns and other restrictions have been reimposed in some areas, and the state’s chief minister, Uddhav Thackeray, has warned that another wave of cases is “knocking on our door.”

Similar surges have been reported from states in all corners of the massive country: Punjab, Jammu and Kashmir in the north, Gujarat in the west, West Bengal in the east, Madhya Pradesh and Chhattisgarh in central India, and Telangana in the south.

Top federal officials have asked authorities in those states to increase the speed of vaccinations in districts where cases are surging, and to track clusters of infections and monitor variants.

“There is a sense of urgency because of the mutants and because cases are going up,” said Dr. K. Srinath Reddy, president of the Public Health Foundation of India.

He said that the consistent dip in cases over months resulted in a “reduced threat perception,” leading to vaccine hesitancy. Experts point out that the reticence to get vaccinated was amplified, at least in part, by the government’s opaque decision making while green-lighting vaccines.

“The [vaccination] drive began when perception was that the worst was over, so people were more hesitant,” Reddy said.

India’s health care system is patchy, and in many small cities people depend on private hospitals for their medical needs. Allowing these hospitals to vaccinate will open up access to the shots, experts said. India had rolled out online software to keep track of the shots and recipients, but the system was prone to glitches and delays.

What is still not clear, though, is whether people will get a choice between the AstraZeneca vaccine or one from Indian vaccine maker Bharat Biotech.

The latter got the go-ahead by Indian regulators in January without any evidence from late trials that showed that the shots were effective in preventing illness from a coronavirus infection.

The priority for now is to increase the number of vaccines every day, said Jishnu Das, a health economist at Georgetown University who advises West Bengal state on the pandemic. But he added that with Covid-19, there are always troughs and peaks, and the key lesson is that it won’t end until enough people have been vaccinated for the spread of the virus to slow.

“Don’t use a trough to declare success and say it’s over,” he said. AP

The World BusinessMirror

Tuesday, March 2, 2021

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UN: At least 18 killed, 30 wounded

by Myanmar forces in several cities

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ANGON, Myanmar—Security forces in Myanmar opened fire and made mass arrests on Sunday as they sought to break up protests against the military’s seizure of power, and a UN human rights official said it had “credible information” that at least 18 people were killed and 30 were wounded.

That would be the highest single-day death toll among protesters who are demanding that the elected government of Aung San Suu Kyi be restored to power after being ousted by a February 1 coup.

About 1,000 people are believed to have been detained Sunday.

“Deaths reportedly occurred as a result of live ammunition fired into crowds in Yangon, Dawei, Mandalay, Myeik, Bago and Pokokku,” the UN Human Rights Office said in a statement referring to several cities, adding that the forces also used tear gas, flashbang grenades and stun grenades.

An Associated Press journalist was taken into police custody on Saturday morning while providing news coverage of the protests. The journalist, Thein Zaw, remains in police custody.

The AP called for his immediate release.

“Independent journalists must be allowed to freely and safely report the news without fear of retribution.

AP decries in the strongest terms the arbitrary detention of Thein Zaw,” said Ian Phillips, AP vice president for international news. The Foreign Correspondents Club of Myanmar also condemned the arrest.

The Democratic Voice of Burma reported that as of 5 p.m. in Myanmar, there had been 19 con-

firmed deaths in nine cities, with another 10 deaths unconfirmed.

The independent media company broadcasts on satellite and digital terrestrial television, as well as online.

DVB counted five deaths in Yangon and two in Mandalay, the largest and second-largest cities.

It registered five deaths in Dawei, a much smaller city in southeastern Myanmar that has seen tens of thousands of protesters nearly every day since the coup.

Witnesses said Sunday’s march was also large and people were determined not to be driven off the streets.

Confirming the deaths of protesters has been difficult amid the chaos and general lack of news from official sources, especially in areas outside Yangon, Mandalay and the capital of Naypyitaw. But in many cases, photos and video circulated showed circumstances of the killings and gruesome photos of bodies.

The independent Assistance Association of Political Prisoners reported it was aware that about 1,000 people were detained Sunday, of whom they were able to identif y 270. That brought to 1,132 the total number of people the group has confirmed being arrested, charged

Anti-coup protesters raise their hands with clenched fists during a rally near the Mandalay Railway Station in Mandalay, Myanmar on February 22. In the month since February 1 coup, the mass protests occurring each day are a sharp reminder of the long and bloody struggle for democracy in a country where the military ruled directly for more than five decades. AP Photo

or sentenced since the coup.

Gunfire was reported almost as soon the protests began Sunday morning in Yangon, as police also fired tear gas and water cannons while trying to clear the streets.

Photos of shell casings from live ammunition used in assault rifles were posted on social media.

Initial reports on social media identified one young man believed to have been killed. His body was shown in photos and videos lying on a sidewalk until other protesters carried him away.

In Dawei, local media reported at least three people were killed during a protest march, supported by photos and video.

Photos on social media showed one wounded man in the care of medical personnel.

Before Sunday, there had been eight confirmed reports of killings linked to the army’s takeover, according to the Assistance Association of Political Prisoners.

UN Secretary-General Antonio Guterres strongly condemned the crackdown, calling the use of lethal force against peaceful protesters and arbitrary arrests “unacceptable,” and expressed serious concern at the increase in deaths

and serious injuries, UN spokesman Stephane Dujarric said.

“The secretary-general urges the international community to come together and send a clear signal to the military that it must respect the will of the people of Myanmar as expressed through the election and stop the repression,” Dujarric said.

US officials including Secretary of State Antony Blinken also condemned the violence. White House National Security Advisor Jake Sullivan issued a statement saying the US is “alarmed” by the violence and stands in solidarity with Myanmar people “who continue to bravely voice their aspirations for democracy, rule of law, and respect for human rights.”

Washington has imposed sanctions on Myanmar because of the coup, and Sullivan said it would “impose further costs on those responsible,” promising details “in the coming days.”

The Feb. 1 coup reversed years of slow progress toward democracy after five decades of military rule. Suu Kyi’s National League for Democracy party would have been installed for a second fiveyear term in office, but the army

blocked Parliament from convening and detained her and President Win Myint, as well as other top members of Suu Kyi’s government.

On Sunday morning, medical students marched in Yangon near the Hledan Center intersection, which has become the gathering point for protesters who then fan out to other parts of the city.

Videos and photos showed protesters running as police charged at them, and residents setting up makeshift roadblocks to slow their advance. Some protesters managed to throw tear gas canisters back at police. Nearby, residents were pleading with police to release those they picked up from the street and shoved into police trucks to be taken away. Dozens or more were believed to be detained.

“The world is watching the actions of the Myanmar military junta, and will hold them accountable,” said Phil Robertson, deputy Asia director for New York-based Human Rights Watch. “Live ammunition should not be used to control or disperse protests and lethal force can only be used to protect life or prevent serious injury.”

Security forces began employing rougher tactics on Saturday, taking preemptive actions to break up protests and making scores, if not hundreds, of arrests. Greater numbers of soldiers also joined police. Many of those detained were taken to Insein Prison in Yangon’s northern outskirts, historically notorious for holding political prisoners.

According to the Assistance Association of Political Prisoners, as of Saturday, 854 people had been arrested, charged or sentenced at one point in relation to the coup, and 771 were being detained or sought for arrest. The group said that while it had documented 75 new arrests, it understood that hundreds of other people were also picked up Saturday in Yangon and elsewhere. AP

Historic round up of Hong Kong opposition draws defiant protest

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Migrant workers from Myanmar gather before participating in a march by Thai pro-democracy activists to the residence of Thai Prime Minister Prayuth Chan-ocha on February 28 in Bangkok, Thailand. The group joined the march after Prayuth met with the Myanmar Foreign Minister Wunna Maung Lwin in Bangkok earlier in the week. Security forces in Myanmar have made mass arrests and appeared to use lethal force as they intensify their efforts to break up protests a month after the military staged a coup. AP/Fu Ting

Thailand’s pro-democracy marchers link their cause to Myanmar protests

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ANGKOK—A new faction of Thailand’s prodemocracy movement staged a protest march on Sunday, linking their cause with that of demonstrators in Myanmar battling that neighboring country’s coup-installed military government.

Marchers sought but failed to go to Thai Prime Minister Prayuth Chan-ocha’s house, which is on an army base in Bangkok. Shipping containers were situated to block them, and police using water cannons, rubber bullets and tear gas barred the way. Erawan Emergency Services said 16 people were injured.

The demonstrators abandoned their plan several hours later after taking an online vote of their supporters.

Their action was linked to the informal Milk Tea Alliance of pro-democracy activists from Hong Kong, Taiwan, Thailand and Myanmar, which called for efforts Sunday online and in real life in support of the protests in Myanmar.

In Myanmar on Sunday, a crackdown on protesters by security forces left at least 18 people dead, according to the UN Human Rights Office.

Prayuth was targeted in part because he met Wednesday in Bangkok with the new foreign minister appointed by Myanmar’s junta.

The protest in Bangkok was the first to be led by a new group calling itself REDEM, short for Restart Democracy, whose self-proclaimed goals are to build democratic socialism and minimize political and economic inequality.

REDEM was launched last week as an offshoot of Free Youth, one of the main groups that began rallying against the Thai government last year.

Last year’s original protest coalition campaigned for Prayuth and his government to step down, the constitution to be amended to make it more democratic and the monarchy reformed to make it more accountable.

The demand about the monarchy is the most controversial, because the institution has been widely considered an untouchable, bedrock element of Thai nationalism.

The protest movement lost steam when it took a break in December and January as Thailand was hit by a second wave of coronavirus infections. It is now trying to reinvigorate itself but has been hampered by the recent jailing of some of its leaders who are pending trial on several charges, including defaming the monarchy. AP

e f i a n t Hong Kong protesters risked arrest outside a local court in the biggest demonstration in months, as dozens of the city’s most prominent pro-democracy activists were jailed on subversion charges and authorities in Beijing moved to limit the opposition’s role in future elections.

The arrests of 47 opposition figures including key protest organizers Joshua Wong, Benny Tai and Jimmy Sham over their roles in an informal election primary last year represented the most sweeping use of the national security law imposed by China last year. The assembled activists appeared in a mass hearing on Monday before Chief Magistrate Victor So. The proceedings drew hundreds of supporters outside the courthouse in the West Kowloon area.

Not only did participants risk arrest by attending an unauthorized rally, some chanted “Liberate Hong Kong! Revolution of our time!”—a slogan banned by authorities since the security law’s enactment.

“I’m here to support our comrades,” said Kwan Chun-sang, a district councilor. “As long as this breath lasts, I’ll fight until the end.”

In another court in the same complex, a handful of other prominent activists—including Martin Lee, Hong Kong’s so-called Father of Democracy, and media tycoon Jimmy Lai—were being tried on separate charges over their roles in an unauthorized rally.

The latest charges were condemned by the US and the European Union, with Secretary of State Antony Blinken calling for the “immediate release” of the activists. The security law case was just one of several moves by authorities to clamp down on the opposition ahead of a legislative election planned for later this year, after being delayed in September.

The move comes ahead of China’s annual legislative session, with senior Chinese officials calling

for an overhaul of Hong Kong’s election system that could further reduce the already-limited influence of pro-democracy politicians. Xia Baolong, the head of the Chinese agency responsible for the city, is meeting Hong Kong officials over the mainland border in Shenzhen to discuss electoral changes.

“The decision to charge these people also suggests that the government wants to do real and lasting damage to the political opposition in Hong Kong, above and beyond the 2021 election cycle,” said Thomas Kellogg, executive director of the Georgetown Center for Asian Law. “It may be that we’re seeing the end of formal opposition politics in the SAR, which would be a real shame,” he said referring to Hong Kong’s status as a special administrative region.

Beijing is tightening control over the Asian financial center after a wave of historically large and sometimes violent democracy protests in 2019. The national security law carries sentences as long as life in prison depending on the severity of the offense, and has been criticized by lawyers, rights groups and international governments as a violation of Beijing’s promise to respect Hong Kong’s freedoms and “high degree of autonomy.”

The opposition figures detained Sunday are being prosecuted over their roles in helping organize a primary that drew more than 600,000 voters in July to choose candidates for Legislative Council elections. Authorities say the primary, as well as plans to force the resignation of Hong Kong Chief Executive Carrie Lam using a provision of the mini-constitution, were part of an illegal attempt to paralyze the city’s government.

The election was eventually postponed by a full year, with the government citing the coronavirus.

Critics said the pro-China local administration hoped to avoid a repeat of an election defeat in local district council polls in late 2019.

The charge facing Wong, who testified before the US Congress during the protests, was the first for him under the national security law. He is already serving a sentence of more than a year in prison handed down in December for a separate charge related to a protest in 2019.

Authorities didn’t charge American lawyer John Clancey, who was involved in the primary and was among those arrested in January. He told reporters after having his bail extended Sunday that he was asked to report to the police again in early May. Former Legislative Council President Rita Fan told officials at the Shenzhen meeting that district councilors should be barred from the 1,200-person committee that selects the chief executive, according to the Standard newspaper. The 2019 victory for democracy advocates in 17 of 18 local district councils gave the opposition around 117 seats on that committee, giving them a better chance of blocking Beijing’s choice to lead the city.

“The central government is really worried about the elections,” said Dongshu Liu, a City University of Hong Kong assistant professor of Chinese politics, adding that the plan to force Lam’s resignation alarmed Beijing. “The central government was really shocked that they seemed to be likely to succeed.”

While almost 100 people have been arrested under the new law, prosecutors had previously only brought charges against 10 of them. The most prominent is media mogul Lai, who has been denied bail and is awaiting trial on charges that he colluded with foreign powers to impose sanctions or engage in hostile activities against Hong Kong or China.

“People just want to express their wish on how the pro-democracy camp can get more seats in the Legislative Council, but they’re being accused of ‘subversion’,” District Councilor Angus Wong said outside the court. “The future of Hong Kong is very gloomy.” Bloomberg News

Negrense A beach spikers capture title in Subic bubble

US Head Coach Gregg Popovich in action.

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banse Negrense A’s Alexa Polidario and Erjane Magdato topped Sta. Lucia A’s DM Demontano and Jackie Estoquia, 21-15, 21-17, on Sunday to dominate the 2021 Gatorade-Philippine Superliga Beach Volleyball Challenge Cup at the Subic Bay Freeport sand courts.

Polidario knocked down clutch hits in the winner-take-all finals to help the Negrense squad rule the bubble tournament staged in cooperation with the Inter-Agency Task Force on the Management of Emerging Infectious Diseases Central Luzon and the Subic Bay Metropolitan Authority.

“We really wanted the championship that’s why we went here,” Polidario said. “We’re happy and we feel blessed for winning the title even if we were just first-timers in the PSL. I hope we made the whole of Negros proud.”

Abanse Negrense A were awesome during the entire tournament supported by Cherrylume, Ube Express and Subic bay Peninsular Hotel with Cocolife, Cocogen Insurance, Data Project and Genius Sports as technical partners.

Despite having no serious training because of the pandemic, Polidario and Magdato swept the pool play before sending Javen Savas and Jonah San Pedro of Toby’s Sports packing in the quarterfinals.

They clashed with the seasoned pair of Bang Pineda and Jonah Sabete of Sta. Lucia B in the semifinals, but were hardly threatened as they pulled off a 21-18, 21-12 win to punch a ticket to the finals.

Magdato said she hopes that their victory would etch Negros as the hotbed of beach volleyball in the country.

“This win is such a huge blessing for us, especially for our province,” Magdato said. “This is a testament that the Negrenses are talented in volleyball as well.”

Abanse Negrense team manager Carmela Gamboa was elated over the victory, saying that their players showed that they could stand their ground against seasoned foes from Manila.

“Although we wanted to have both Negrense teams in the finals, we’re happy because we still achieved our goal,” said Gamboa, a member of the Philippine National Volleyball Federation board of trustees.

“We’re happy to be part of the PSL’s historic return and we’re excited to go home to our province. I’m sure our Gov. Bong Lacson is so proud of us,” she said.

Abanse Negrense B finished third, Sta. Lucia B settled for fourth, F2 Logistics fifth, United Auctioneers sixth, Toby’s Sports seventh and Kennedy Solar EnergyPetroGazz eighth.

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IAMI—Atlanta coach and USA Basketball men’s national team assistant coach Lloyd Pierce had a one-day coronavirus scare a few weeks ago and had to stay in his hotel room while the matter was sorted out.

The bad news: He missed practice.

The good news: He didn’t have to miss a USA Basketball staff call that head coach Gregg Popovich had scheduled for that day, because it would have conflicted with that practice.

“This is how smart Pop is,” Pierce said.

If the rest of the plan comes together as well as that day did, USA Basketball will be very happy this summer. The start of the team’s training camp in Las Vegas is now about four months away—July 1 is a target date, though not absolutely finalized—meaning the decisions on who will play for the

Sports BusinessMirror

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| Tuesday, March 2, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

USA HOOPS ON TRACK FOR TOKYO

Americans at the rescheduled Tokyo Olympics are getting closer and closer.

The Americans are expected to have about 60 players in the pool of Olympic prospects for this summer, then will pare that down significantly before bringing a team to Las Vegas. Assuming schedules do not change, that camp would begin during the National Basketball Association (NBA) conference finals and with four teams still playing — meaning it’s a safe bet that some players USA Basketball will want for Tokyo might otherwise be busy at that time.

That’s why this Olympic selection process is going to have to be different than usual for the Americans, and multiple contingency plans must be mapped out.

Some of the questions that the USA Basketball coaches—Popovich’s staff also includes Golden State coach Steve Kerr and

PBA staff cited for bubble work HE entire Philippine Basketball Association (PBA) staff will be recognized with a special citation in the PBA Press Corps virtual Awards Night on Sunday at the TV5 Media Center.

The 17-man league headed by Deputy

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Commissioner Eric Castro will be cited for the admirable, round-the-clock work that they pulled off to ensure the safe and efficient staging of the Philippine Cup bubble in Clark, Pampanga, late last year.

The March 7 event is presented by Cignal

Villanova’s Jay Wright—and staff are currently mulling included these, as Pierce recalled Sunday in Miami before his Hawks faced the Heat: “Who do you wait for? Who’s worth waiting for? How long do you wait? How do you manage your roster because we’re going to play four or five games in July in Vegas, kind of a mini-bubble of teams and just kind of keep everything there? And how do you manage a roster, knowing there may be some pretty important guys potentially that may still be playing. And then, what do you do in the event of some random emergency when you have to leave on the 19th for Tokyo?”

Most of the league’s biggest American stars—LeBron James, Stephen Curry, Damian Lillard, James Harden, Jimmy Butler, Kyle Lowry, Kyrie Irving and Kevin Durant among them— were part of the player pool last year and are

expected to be part of the pool this summer.

Pierce, Kerr and Wright were all with Popovich as assistants when USA Basketball finished seventh at the Basketball World Cup in 2019. More than 50 players were part of the US plan at one point or another for that tournament; of those, 12 went to China, two got cut after the first week of training camp and the other three dozen or so dropped out on their own.

The US men will open the Olympics against France—the team that beat them in the World Cup quarterfinals and ended their medal hopes in that event—on July 25. The US men will also face Iran on July 28 and a still-to-bedetermined team on July 31.

The US men are seeking a fourth consecutive gold medal. The Tokyo Games are scheduled to open July 23, one day after the NBA says is the last possible date for this season’s NBA Finals. AP

TV and will be shown over PBA Rush on March 8.

The special citation is the latest special bubble awards to be announced by the group of men and women covering the PBA beat. Still to be named are the Outstanding Coach of the Bubble, Mr. Executive and President’s Award.

Previously announced were Justin Chua

(Top Bubble D-Fender), Calvin Abueva, Chris Ross, Mark Barroca, Christian Standhardinger, and Chua (All Bubble D-Fenders), RJ Jazul (Mr. Quality Minutes), CJ Perez (Scoring Champion) Barangay Ginebra-Meralco Game 5 semis (Game of the Bubble) and the quintet of Aaron Black, Arvin Tolentino, Roosevelt Adams, Barkley Ebona, and Renzo Subido (All-Rookie Team).

Lorenzo still NGAP president

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artin Lorenzo, Aurelio Montinola and Al Panlilio kept their posts as president, chairman and treasurer, respectively, of the National Golf Association of the Philippines (NGAP), while Rolly Romero is the new vice president after the NGAP Annual Council Meeting and Biennial elections at the Alabang Country Club over the weekend.

Romero of Camp Aguinaldo Golf Club topped the polls with 117 votes with Jose Iñigo of Riviera earning 114 votes followed by Sherwood Hills Golf Club’s Paul Shin Chan with 107, Panlilio of Manila Golf with 95, Sta. Lucia’s Vicente Santos with 94, while Montinola, also of Manila Golf, and Jose

Dagdagan of Anvaya Cove and Ayala Greenfield, drew identical 93 votes.

Lorenzo, who represents Luisita Golf and Country Club, Del Monte and Sta. Elena, actually drew 91 votes but was given a fresh mandate by the board to head the restart of the country’s governing body for the sport’s program held back by the global health crisis last year.

Completing the 11-man board are Kit Angeles (90) of Eastridge, Atty. Jake Corporal (88) of Alabang and Peng de Tagle (85) of Manila Southwoods and Camp John Hay. With Lorenzo, whose Lapanday Foods Corp. acquired Luisita GCC in 2016, taking over the NGAP.

Two-part PSA Forum today

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EMBERS of a team seeing action in the inaugural Pilipinas VisMin Super Cup and officials of a newly-founded sports marketing organization aimed to help Philippine sports during the pandemic will grace the two-part session of the online Philippine Sportswriters Association (PSA) Forum on Tuesday.

The MJAS Zenith Team led by manager Jhon Santos, player Paolo Hubalde and Puma PH senior manager for sales marketing and

operations Michael Aldover will talk about their campaign and chances in the upcoming regional professional basketball league set to start this summer.

The Goal Diggers PH team of Robbie De Vera, Simone Jaldon and Rely San Agustin, meanwhile, will discuss their programs as marketing professionals and former athletes with the aim of uplifting Philippine sports given the challenges of the Covid-19 pandemic.

Mental, physical, emotional Vincent Juico | @VJuico Instagram vpjp_j, vince.juico@gmail.com

SPORTS WITHOUT BORDERS THIS past weekend saw the Abanse Negrense A winning the 2021 Gatorade-Philippine Superliga Beach Volleyball Challenge and that feat got me thinking.

During the Covid-19 pandemic, I’ve witnessed four bubbles—National Basketball Association (NBA), Philippine Basketball Association (PBA) and Philippine Football League (PFL)—last year. And then the beach volleyball bubble this past weekend.

I cannot even begin to fathom how it must be challenging for the mind, body and spirit for both professional and non-professional athletes to perform at a high level without any support system in place. I mean, you’ve got your teammates and coaches but being away from your families takes its toll on even the most decorated athlete.

According to the Cardiff Student Media website, “The NBA is another sporting product that shares this uncertain future. In the most recent season, which the LA Lakers won, the bio-secure bubble concept was used to the ultimate excess. The bubble for the NBA was

based in Florida at the World Disney resort in Orlando.

For many, this situation would be a childhood dream come true, being locked in at World Disney. Yet, the challenges of being locked down in the bio-secure bubble is having an effect on the mental well-being of some players already. For players like Paul George of LA Clippers fame, the bubble has taken him to places of anxiety and feeling alone. With such a high-profile player speaking out about the impacts of the bubble, hopefully in the future of NBA bubbles, more can be done to limit these kinds of mental health effects.”

Covid-19 has already done a number on both professional and amateur athletes without being in a bio-secure bubble, what more in isolation over a substantial period of time.

NBA players spent about three months inside the bubble. PBA players were isolated for almost two months. The PFL bubble was almost a month. The Gatorade-PSL beach volleyball players were in a bubble for a week.

Cuarto wants to keep crown for longest time

Rene Mark Cuarto joins the elite list of Filipino world champions.

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By Josef Ramos

EWLY Crowned International Boxing Federation (IBF) minimumweight titleholder Rene Mark Cuarto wanted to be remembered as a world champion who reigned for the longest time—not only during the time of the Covid-19 pandemic.

“I finally achieved my dream of becoming a world champion and I am hoping to hold this title for a long time. I want to stay as a world champion,” the 24-year-old Cuarto told BusinessMirror on Sunday.

Cuarto dethroned Pedro Taduran via unanimous decision—all three judges saw the fight 115-113—on Saturday in General Santos City.

“I’m so happy that my hard work has finally paid off,” he said.

Cuarto joined the elite cast of Filipino world champions—IBF super flyweight champion Jerwin Ancajas, World Boxing Organization (WBO) bantamweight champion Johnriel Casimero and World Boxing Association (WBA) minimumweight titleholder Vic Saludar.

Now, Cuarto is willing to defend his belt against anyone.

“If opportunity presents itself, I want to fight in a unification match against other world champions. But that depends on my trainer and manager [Nonoy Neri] who to fight next,” added Cuarto.

Cuarto, who pocketed $8,000 (P390,043.12 from the fight, improved to 19-2-2 win-loss-draw record with 11 knockouts. Taduran (14-3-1 record with 11 knockouts) banked $20,000 as the world champion before the fight.

“I do not have any plans [about my fight purse] for now but to put it in my personal savings,” said the Zamboanga del Norte native Cuarto, who dedicated his triumph to his three-year-old son CJ. “Maybe after two weeks, I will return to training but for now I am just relaxing and enjoying the moment,” added Cuarto, who shunned answering questions on a rematch with Taduran.

The weekly session presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. starts at 10 a.m.

Powered by Smart with Upstream Media as the official webcast partner, the Forum is livestreamed via the PSA Facebook page fb.com/PhilippineSportswritersAssociation and also shared by Radyo Pilipinas 2 Facebook page.

The toll it exacts doesn’t only affect athletes but also the coaches, the officials, the health and medical practitioners who do the testing, the hotel staff who make sure the players are comfortable, the equipment guys and the people who set up the courts and fields.

Also, over the weekend, I saw something that reinforced my faith in humanity. I saw on Instagram the Fiji Silktails Rugby Team sang to say thank you to the Hotel Sofitel Wentworth quarantine staff after their two week stay.

According to the Good News Movement Instagram page, “In a gesture of gratitude, the rugby team from Fiji sang to thank the Sofitel Wentworth staff for their hard work keeping their hotel clean during their 2-week quarantine ahead of a New South Wales Rugby League competition.”

These bubbles are not easy to organize and they don’t come cheap. Forbes.com says “The bubble was a $190-million investment by the NBA to protect its 2019–20 season, which was initially suspended by the pandemic on March 11, 2020. The bubble recouped an estimated $1.5 billion in revenue.”

The PBA spent somewhere in the neighborhood of about P60 to 65 million on their bubble. Leagues will spend a substantial amount of resources to bring back their product to relevance and to satisfy hunger and craving of sports fans all over.

So it isn’t just a mental, physical and emotional brunt on the athletes, but also a financial toll on team and league owners.