BusinessMirror March 16, 2021

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OFW REMITTANCES DIP FOR 2ND MONTH IN JAN www.businessmirror.com.ph

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Tuesday, March 16, 2021 Vol. 16 No. 156

P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK

A RESIDENT of Binondo, Manila, walks past an advertisement of a remittance company. Money exchange during the pandemic, boosted by the spectacular growth of financial technology, has become a daily routine among Filipinos, whether to send or receive something from families and friends to keep afloat in the crisis. BERNARD TESTA

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By Bianca Cuaresma

ASH remittances sent by Filipino migrant workers declined by about $45 million in January 2021 compared to the level in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported on Monday.

House panel pitches change in private retirement system

By Jovee Marie N. Dela Cruz

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HE House Committee on Banks and Financial Intermediaries on Monday started deliberating the proposed Capital Market Development Act to establish a new private retirement and pension system in the country.

However, Labor Secretary Silvestre Bello III quickly told the committee that while the Department of Labor and Employment (DOLE) lauded the intent of House Bill 8939, the costs to be shouldered by both employers and workers may not be generally welcomed, especially at a time when most people are still bearing the economic toll of the Covid-19 pandemic.

“The cost-sharing arrange-

ment, therefore, needs to be subjected to social dialogue to generate public ownership and a sense of responsibility, which are vital in the smooth implementation and success of the policy reform,” Bello said during initial deliberations of House Bill 8939.

However, another Cabinet member, Trade and Industry Secretary Ramon Lopez, supports the measure and has asked the employers’ group to support it as well.

Related story in A4, Economy, “DTI calls on business sector to support pending House proposal to reform pension fund system.”

Panel chairman and Quirino Rep. Junie Cua said his HB 8938

Overseas Filipino workers’ (OFW) remittances hit $2.603 billion in January this year, posting a 1.7-percent decline from $2.648 billion in the same month in 2020.

This is the second consecutive month that remittances declined after consistently being in growth territory since September 2020—a trend that many had found remarkable, given how the Covid-19 pandemic gouged economies worldwide, cutting jobs of overseas Filipinos and forcing hundreds of thousands to return home.

The P2.603-billion January remittance level is also $287 million lower than the $2.89-billion level in December of 2020.

Broken down, the decline in cash remittances can be traced to the lower land-based workers’ remittances, which contracted by 2.4 percent to hit $2.044 billion during the month. Sea-based workers, meanwhile, slightly cushioned the blow to marginally increase by 1 percent and hit $558 million.

See “OFW,” A2

SENATORS BACK PROBE ON PORK ‘TONGPATS’ AS TARIFF CUTS RESO OK’D

By Butch Fernandez & Jasper Emmanuel Y. Arcalas

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HE Senate on Monday adopted a resolution asking President Duterte to declare a state of national emergency due to the African Swine Fever (ASF) and rejecting twin proposals to slash pork tariffs while increasing the minimum access volume (MAV) for pork imports.

This developed as senators moved for an inquiry into the possibility that vested interest groups may be making a killing from the importation of meat products while the government loses billions in foregone revenue from smuggling and corruption.

Senator Panfilo Lacson moved to open the inquiry while senators were deliberating two draft Senate resolutions, both intended to ask Duterte to reject a proposal, endorsed by the Department of Agriculture, to bring down tariffs while increasing the MAV.

The proposals were a response to the inflationary impact of pork supply shortages and resulting price spikes as the ASF continues to ravage the local hog sector.

On Monday night, senators approved Senate Resolution 676 in consideration of Senate Resolution 684 authored by Senators Cynthia Villar and Francis Pangilinan. Villar chairs the chamber’s agriculture committee while Pangilinan is a former presidential adviser on food security.

The senators on Wednesday last week had agreed to fast-track the resolution expressing the sense of the Senate, on top of a letter sent earlier to Malacañang by Villar and Sen. Imee Marcos, asking the President to reject the proposal for lower tariffs.

They echoed concerns raised earlier by Villar and Marcos that slashing tariffs—on top of a move to increase MAV—is unnecessary and would kill the local hog industry. This, without substantially addressing the concern of inflation caused by the shortage of pork supply.

“We should not bring down tariffs; the local hog industry is already reeling (bugbog na)” from the crisis spawned by the ASF and the series of typhoons late last year, Majority Leader Miguel Zubiri said.

‘Tongpats’ system?

THIS developed as senators are now keen on investigating the alleged “tongpats” system prevailing in the country’s meat importation system, wherein unscrupulous government officials connive with importers for kickbacks for every kilogram of pork imported.

Continued on A2

Continued on A2

PESO EXCHANGE RATES n US 48.4350

n JAPAN 0.4443 n UK 67.4457 n HK 6.2396 n CHINA 7.4415 n SINGAPORE 36.0058 n AUSTRALIA 37.5662 n EU 57.8895 n SAUDI ARABIA 12.9150

Source: BSP (March 15, 2021)

News BusinessMirror

A2 Tuesday, March 16, 2021

Experts’ reminder: Selling NPAs has a price for banks

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By Tyrone Jasper C. Piad

HILE offloading bad loans to asset management companies will help banks, doing so comes with a price financial institutions should be willing to pay.

The Financial Institution Strategic Transfer (FIST) measure, which was signed into law last month, can free up liquidity in banks by allowing them to sell their nonperforming assets (NPAs) to FIST companies. But economists interviewed by the BusinessMirror explained that selling price of NPAs is usually at a discount, which means banks will likely incur loss in the process.

“I think these are losses that all economic players have to face, especially if the said NPAs are said to be less superior,” UnionBank Chief Economist Ruben Carlo O. Asuncion told this newspaper.

NPAs refer to nonperforming loans (NPL) and real and other properties acquired in settlement of loans.

He explained that valuations of NPAs to be sold may vary, too,

ASUNCION: “This year, I believe that the worst for the financial sector is already in the rearview mirror. At this point, banks can still carry on and continue into the economic recovery this year despite all the challenges.”

but the end goal is the same: offloading NPAs will allow banks to secure immediate funding to extend more borrowings, which are needed to help the economy recover.

ING Bank Manila Economist Nicholas Antonio T. Mapa agreed that the NPA selling price varies as this depends on the agreement between the banks and FIST companies.

However, in order to entice asset management companies, he said that “significant” discounts should be provided for them given that they will take on the bad loans and assets.

While NPAs are sold at a discount—which is consistent with international practices—RCBC Chief Economist Michael L. Ricafort said that the banks doing so will be given tax perks in return.

“In order to convince the financial institutions to accept what will likely be substantial discounts, government is willing to forego taxes collected, such as documentary stamp taxes and capital gains taxes, just to get the sale going,” Mapa said.

Healthy capitalization

RICAFORT said that the banking sector can still withstand the impact of the potential surge in bad loans this year, citing its robust capitalization.

In addition, the RCBC economist thinks financial institutions

are prepared to handle the anticipated credit risks. “This [healthy capital level] has also been helped by the adoption of risk management frameworks/systems, including better management of credit risks, aligned with global best practices,” he explained.

Capital adequacy ratio of the banking industry stood at 12.71 percent as of January, according to data from the Bangko Sentral ng Pilipinas.

For Asuncion, meanwhile, the worst is over for the financial sector, but warned that the potential rise of bad loans is still around the corner.

“This year, I believe that the worst for the financial sector is already in the rearview mirror,” he said. “At this point, banks can still carry on and continue into the economic recovery this year despite all the challenges.”

Based on data from the Central Bank, NPLs reached P391.67 billion as of end-December 2020, which is 74.77 percent more than P224.11 billion year-on-year. This, as the total loan portfolio slipped by 1 percent to P10.86 trillion by the end of last year from P10.97 trillion in 2019.

ROQUE TESTS POSITIVE FOR COVID-19 AFTER OUT-OF-TOWN TRIPS

By Samuel P. Medenilla

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OLLOWING several out-oftown trips last week, Presidential spokesman Harry Roque announced on Monday he tested positive for Covid-19.

In an online press briefing, Roque said he is currently in isolation after the result of his reverse transcription-polymerase chain reaction (RT-PCR) test, which he took on Sunday, showed he was infected.

He underwent the swab test in preparation for attending

the public address of President Duterte on Monday.

“It came as a surprise and a shock; it’s not just a shock that after about 35 tests [in the past two weeks], I tested positive,” Roque said.

This after he traveled to Dumaguete on March 11, where he joined Duterte for the inauguration of two infrastructure projects, and in Ilocos Norte on March 10.

In both cases, Roque said he tested negative for Covid-19 and, he stressed, he observed mini-

mum health standards such as wearing of facemasks and social distancing.

Roque, who is currently asymptomatic, said he will be staying in an isolation facility to comply with the government policy against home quarantine.

While recovering, he said he will continue with his task as spokesman, including holding regular briefings as long as he does not suffer from any adverse symptoms.

He urged those he may have interacted with to also undergo precautionary isolation.

www.businessmirror.com.ph

SENATORS BACK PROBE ON PORK ‘TONGPATS’ AS TARIFF CUTS RESO OK’D Continued from A1

Lacson disclosed at Monday’s plenary session that he has received information from “highly placed officials” that certain DA officials are getting P5 to P7 per kilogram of pork imported.

Lacson pointed out that this is happening at the present tariff regime and could double to P10 to P15 if the Executive proceeds to reduce tariff rates to as low as 5 percent.

Lacson’s disclosure was adopted by the Senate as an amendment to Senate Resolutions 676 and 684 that seek to block the twin proposals to slash tariffs while hiking MAV.

The Senate also adopted Lacson’s amendment urging the Presidential AntiCorruption Commission (PACC) to conduct a motu proprio investigation regarding the “allegations that certain unscrupulous individuals connive for scheme of tongpats.”

Lacson added that he will also file a separate Senate resolution that would initiate an inquiry regarding the alleged P5 to P7 per kg “tongpats” system for the importation of products under MAV. “Kaya siguro nagpipilit na ibaba ang tariff at itaas iyong volume dahil baka mayroong lobbying all the way from the back [Maybe that’s why there’s a strong push for tariff reductions and increase of MAV, because there’s lobbying all the way from the back],” he said.

Lacson noted that should the “tongpats” rise to P10 to P15 per kilogram, then the thieving officials would earn a clear P4 billion to P6 billion from the proposed 400,000 metric tons (MT) of pork MAV.

Technical smuggling

THE issue of technical smuggling of pork imports was also raised during the plenary session, with senators pointing out that unscrupulous importers are already benefitting from misdeclaring good, or prime, pork cuts as pork offal to avert paying higher tariffs.

“Aside from adopting a resolution,

OFW… Continued from A1

ROQUE: “It came as a surprise and a shock.”

By country source, the United States registered the highest share to total remittances at 40.9 percent. This is followed by remittances from Singapore, Saudi Arabia, Japan, the United Kingdom, Canada, the United Arab Emirates, Qatar, Malaysia and Taiwan.

The combined remittances from these countries accounted for 78.2 percent of total cash remittances during the period.

Earlier this year, economists from the University of Asia and the Pacific (UA&P) and First Metro Investment

maybe it is proper also for the Senate as a Committee of the Whole to conduct an investigation regarding the misdeclaration of imports in the middle of the pandemic,” Lacson said.

Pangilinan also proposed that the Senate look into the profiles of meat importers to determine if they really have the capacity to import meat products.

‘Transparent’ system

SOUGHT for comment, Meat Importers and Traders Association (Mita) President Jesus C. Cham said the country’s MAV system is an “established, robust system” that is “very transparent and equitable.”

“The reason I say that [is] because this was established in 1996 and survived for 21 years without controversies,” Cham told the BusinessMirror, noting that there are more than 100 companies and firms eligible to import under the present MAV for pork.

Cham explained that the MAV is allocated among eligible importers, firms and companies based on their past MAV performances, whether they are able to use up all their allocations or not.

“If you hit your performance target, then you keep your previous allocation and entitled for an additional allocation,” he said.

Eligible licensees for additional allocation partake in the beginning year pool, wherein surrendered and available unused quota are raffled among themselves.

Cham, who sits in the MAV Council and whose company has a MAV allocation, said he is not aware of any “tongpats” system in the current MAV setup.

Cham also disclosed that the MAV Council has not finalized the details for the allocation and implementation of the proposed additional MAV by the executive branch.

“The details have not been finalized but the consensus was that it should be opened to practically anybody—any qualified meat importer, that is, someone who is accredited with the Customs as an importer and registered with the National Meat Inspection Service as a meat importer,” he said.

Corporation (FMIC) said remittances are expected to bounce back this year as advanced economies, especially those in the Middle East, are expected to recover.

“OFW remittances will retake the positive territory even as the 2020 record showed only a slight 0.8-percent dip,” FMIC and UA&P analysts said in the latest issue of The Market Call.

FMIC said the expected recovery of remittances for this year will likely be driven by the recovery of Middle Eastern economies, most of which are havens for Filipino migrant workers.

“The nascent economic recovery in the advanced economies and the Middle East [due to higher oil prices] will provide the boost,” economists said.

House panel pitches change in private retirement system Continued from A1

will provide a retirement and pension system that is fully funded, portable, more actuarially fair and stable that will enhance the current pension, at the same time, promoting and encouraging national savings and prudential investments on the part of employees.

“In so doing, vigorously stimulate the development of the capital market, in particular, and contribute to the desired economic growth of the country, in general,” he said.

“An important component of deepening the capital market is to develop a wide institutional investor base that could best be achieved by adopting a robust pension fund system. Timely, our pension fund system has long been due for reform. As old-age income support is now among the major social and economic challenges facing many nations, including the Philippines, it is imperative to institute the much-awaited reforms in our retirement and pen-

sion system,” he added.

Cua also admitted the current pension system has a problem.

“It is small, underfunded and inadequate to provide enough income to support old-age retirement. Our pension assets under management represent just 16 percent of gross domestic product,” he said.

Citing the Organisation for Economic Co-operation and Development (OECD), Cua said the average ratio of pension assets is 124 percent of GDP, while the non-OECD average is 36 percent of GDP. “Said another way, we have 1.3 pensions assets per worker.

Thailand has 126 pension assets per worker and Singapore has 900,000 pension assets per worker,” he said.

He added that the private pension system, which is meant to supplement the Social Security System (SSS) and the Government Service Insurance System (GSIS) pensions, has not developed.

“It has its own problems. Foremost of which is the structure of the law and its implementing regulations. Republic Act 7641 does not require pensions to be prefunded, hence, pensions are paid out of pocket rather than built up over the duration of employment, thus, no pool of investible assets is created,” he said.

Employees at risk

“The pension benefits do not vest until they are 60 years old and on the last day of their employment.

Because pension benefits only vest at their final place of employment, pensions are not portable, and the employee is at risk in the event of the employer’s bankruptcy. In addition, many are working in the informal sector, which makes it difficult to enforce pension requirements under the current law,” Cua added.

According to Cua, capital markets mobilize savings from households and firms with surplus funds, and channel these to those sectors with a need for such funds.

“It provides the link for the direct intermediation of funds from savers to borrowers through the bond and stock markets, while indirect financial intermediation channels funds from savers through the banking system. For all these channels, the tasks are to allocate savings to their most productive uses,” he said.

Under RA 7641 or the Retirement Pay Law of 1993, Secretary

Bello said the pensions are at risk because they are unfunded.

“Worst-case scenario is that employees will not receive anything if the employer suddenly goes bankrupt,” he said.

“Workers also are unable to fully reap the retirement benefits due to the scheme’s nonportable design, where only the final employer is required to pay pensions. For workers who have had multiple employers and have rendered only a few years with their final employer, this means receiving only a small amount upon retirement instead of the full value that has supposedly accrued to them during their working lives,” he added.

Throughout their working lives, Bello said pensioners have contributed to the creation of national wealth.

“It is only fair that they are afforded with safety nets during old age, and no longer in the same productive capacity as they were in their prime years,” he said.

But the proposal is consistent with the DOLE’s mandate to protect workers and promote their welfare.

“We support policy reforms aimed at addressing these gaps and providing better alternatives for workers [as] the proposed measure addresses the issue of underfunding. HB 8938 provides for mandatory contributions from all employers and workers, except the self-employed, government workers, domestic workers and other

types of workers who may be excluded,” he said.

The bill

HB 8938 established at the start of employment a mandatory, fully funded and portable Employee Pension and Retirement Income (EPRI) account. The creation of the EPRI account for the employee shall be the responsibility of both the employer and the employee.

The bill puts the EPRI account under the name of the employee bearing the employee’s PhilSys Number (PSN) under Republic Act 11055.

A covered employee, upon reaching the age of 60 years but not beyond 65 years, which is hereby declared the compulsory retirement age, shall retire and avail himself/ herself of the benefits under the proposal, according to the bill

Upon reaching the optional or compulsory age under Section 11 or on any of the instances allowed by the regulatory authorities for vesting or termination, the retiring employee, or EPRI owner, shall be entitled to all the EPRI assets at the time of vesting or retirement.

Under the measure, EPRI shall cover all employees and employers as defined under the Labor Code of the Philippines and its implementing regulations. It will also cover all corporations, whether domestic or resident foreign corporation, general professional partnerships and such other entities, whether registered or not, having persons under their employ.

Also, self-employed and professionals may opt for voluntary coverage under this proposal.

The bill said both the employee and the employer shall be obliged to mandatorily contribute to the EPRI account. The amount of such contribution, which shall be fair, equitable, affordable, adequate and sustainable, shall be determined by the regulatory authorities in the implementing rules and regulations.

Also, it said such amount of contribution shall be subject to a periodic evaluation to determine its actuarial sufficiency, fairness and sustainability. The review, revisions and adjustments of such contributions shall be undertaken by the regulatory authorities.

Under the bill, the EPRI owner shall make all investment decisions pertaining to his EPRI asset but limited to EPRI investments products as defined under the proposal. In the absence of an investment choice made, there shall be a default investment product or products determined and prescribed by the regulatory authorities on which the EPRI shall be invested.

The bill said the EPRI account, including those involved in the administration, management and custody of its fund and assets, shall be placed under the regulation, supervision and administration of the Department of Finance, the Insurance Commission, the Securities and Exchange Commission, and the Bangko Sentral ng Pilipinas.

www.businessmirror.com.ph

The Nation BusinessMirror

Pasig mayor isolates after coronavirus kills his driver

ICU beds are ‘slowly being filled up’ in NCR amid surge in Covid cases, DOH exec warns

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By Claudeth Mocon-Ciriaco | Correspondent

N official of the Department of Health (DOH) on Monday warned that intensive care unit (ICU) beds for Covid-19 patients are “slowly being filled up.”

PASIG City Mayor Vico Sotto encourages those who don’t have essential travels to stay at home.

In his video message on Monday, March 15, 2021, he cited the significance of discipline and cooperation with the government’s efforts to contain the spread of the Covid-19 infection.

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ASIG City Mayor Vico Sotto announced on Monday he will be in isolation after his personal driver died of the coronavirus disease 2019 (Covid-19) on Saturday.

Sotto posted on Twitter that he will be in quarantine until March 24, even if his results come out negative. His driver, whom he called Kuya Vener, last drove for him on March 10.

“Nawalan tayo ng isang matalik na kaibigan dahil sa Covid-19. Siya ’yung driver ko kaya talagang close contact ako bagama’t sumusunod kami sa health protocols, [We lost a good friend because of Covid-19.

He is my driver that I had close contact with, but we are adhering to the health protocols],” he said in a Facebook livestream.

Sotto said he will strictly follow the isolation and quarantine protocols set by the Department of Health (DOH). He assured his constituents that he will work remotely or online, until the end of the month.

“Following DOH protocol, I will be in quarantine until March 24 [2 weeks from when he last drove for me]. I will continue working via Zoom and phone,” he posted, adding he is not experiencing any symptoms yet.

Sotto, along with his staff, have already been tested and they expect to receive the swab test results on Monday afternoon.

@reneacostaBM

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HE chief of intelligence of the Calbayog City police in Northern Samar “acted on his own” when he requested a local court to furnish him the identities of lawyers who serve as legal counsels of individuals and groups identified with the communist rebel movement.

At a news briefing on Monday, Philippine National Police (PNP) Officer-in-Charge Lt. Gen. Guillermo Eleazar said Lt. Fernando Calabria’s action in seeking out the names of lawyers representing personalities and groups identified with the Left was done at “his own initiative,” contrary to Calabria’s claim, as stated in his letter to the court, that he was merely following orders from higher headquarters.

“Based on the initial investigation by the regional [police] director, it was his own initiative…to get information and for him to have an extensive situationer report on [the] insurgency in the area,” Eleazar said.

The officer in charge of the PNP re-

While hospital care utilization rate (HCUR) nationwide is still considered as “low risk” at 35 percent,

Beverly Lorraine C. Ho, concurrent director IV, Health Promotion Bureau and Disease Prevention and

Control Bureau, warned that National Capital Region (NCR) that ICU beds are already at “moderate risk” at 65 percent.

“We cannot be complacent about the numbers now. ICU beds are slowly being filled up,” Ho said in a media forum.

Ho a d d e d t h at w h i l e t he number of cases are increasing, “eventually a big number will go to the ICUs.” The HCUR in NCR is at 49 percent and mechanical ventilators that are being used at 38 percent.

“Pero kahit mag-negative ay tatapusin ko ang quarantine alinsunod sa DOH guidelines. Posible kasing nag-iincubate pa lang ang virus kaya [Even if it will turn out negative, I will be completing the quarantine in accordance with DOH guidelines. It is possible that the virus is still incubating that’s why it is] negative,” he said.

He warned anew his constituents not to be complacent and to continue observing the minimum health standards amid the ongoing surge of Covid-19 cases.

Sotto encouraged those who don’t have essential travels to stay at home.

He cited the significance of the public’s discipline and cooperation with the government’s efforts to contain the spread of the infection.

“Kahit anong gawin ng gobyerno, nasyunal man o lokal, magkukulang po talaga kung hindi nagkukusa na sumunod at maging disiplinado [No matter what the government will do, national or local, it will not be enough unless people will volunteer to follow the health protocols and exercise some discipline],” said Sotto.

Of Pasig’s 12,152 total confirmed Covid-19 cases, 513 remained active cases, 11,190 have recovered and 449 have died as of March 13.

He also urged the public to trust the experts on vaccine acquisition.

“Let’s trust the experts, let’s trust the doctors, let’s trust the regulatory bodies,” he said. PNA

lieved Calabria of his post on Saturday and was replaced by Maj. Ruel Burlat, as the PNP moved to restore public confidence in the police in Calbayog City on the heels of a recent “gunfight” between a group of policeman and a convoy of the late Mayor Ronald Aquino.

Aquino died during the incident along with five others, three of them policemen.

Earlier, Eleazar said the pressure for Calabria to present a comprehensive report of the insurgency in Calbayog City may have forced him to commit a serious policy breach.

Calabria’s action drew criticisms from various groups and individuals, including members of the Integrated Bar of the Philippines.

The officer in charge of the PNP ordered the dissemination of intelligence guidelines and other security protocols to all police stations around the country.

Calabria’s “misstep” and the gunfight killed prompted Eleazar to also order for the relief of Lt. Col. Neil Montaño as the chief of police of Calbayog City and replaced him with Lt. Col. Rodolfo Albotra.

By Joel R. San Juan @jrsanjuan1573

A

NOT SO FAST

Quezon City Police District personnel manning a checkpoint along Kamuning Road checks on motorcycle riders on Saturday, March 13, 2021. Quezon City is intensifying border controls due to surge in Covid-19 cases the past days. PNA/ROBERT OSWALD P. ALFILER

DepEd bares early registration schedule for incoming learners for SY 2021-2022

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HE Department of Education (DepEd) has set the early registration of incoming learners for school year (SY) 2021-2022 from March 26 to April 30, 2021.

The month-long activity will be initiated to ensure that incoming learners are registered for the SY and “help the Department better prepare for possible issues and concerns that may arise,” as stipulated in DepEd Order (DO) 3, Series 2018, or the Basic Education Enrollment policy.

“All incoming Kindergarten, Grades 1, 7, and 11 in public elementary and secondary schools shall pre-register to allow the department to make necessary preparations and incoming plans for the coming school year,” Secretary Leonor Magtolis Briones said, stressing that the move is due to major changes in the school calendar for SY 2020-2021.

Briones also noted that Grades 2 to 6, 8 to 10, and 12 are considered pre-registered and may not need to participate in the early registration.

Early registration is mandatory for public schools while optional for private schools. Private schools, however, are mandated to strictly implement the Kindergarten cut-off age under DO 20, Series 2018.

DepEd also reminded schools and the public to still follow pre-

cautionary measures against Covid-19 transmission during the early registration activity.

In the context of the prevailing Covid-19 public health emergency, Briones said, the conduct of early registration shall be done remotely in areas under general community quarantine (GCQ).

In-person registration through parents or guardians may be allowed in areas under modified general community quarantine (MGCQ) “provided physical distancing and health and safety protocols are strictly observed.”

Last year, in line with the strict physical distancing and community quarantine measures, the department adopted remote enrollment in the first two weeks of the activity.

On the third week, physical enrollment was done in coordination with local government units and physical enrollment platforms established by the schools.

In previous years, regional and school division offices organized teams that will lead the advocacy campaigns. Schools designated early registration desks in school premises manned by individuals tasked to handle the registration.

They also undertook activities such as house-to-house campaigns, dissemination of print materials, social-media informa-

tion campaigns, and engagement with parents, barangay officials, civic and people’s organizations and other stakeholders.

The early registration was introduced to help the department anticipate the number of enrollees for the coming school year and instituted in DepEd Order 3, Series 2018, otherwise known as the Basic Education Policy.

Aside from incoming Kinder and Grades 1, 7, and 11 students, it also seeks to locate, identify and register out-of-school youth and children who may be identified as living with disabilities; living in an off-grid community; living in a barangay without a school; living in a geographically isolated area; displaced due to natural disasters; living in an armed conflict area; living in an area with a high level of criminality/drug abuse; having a chronic illness; having nutritional problems; a victim of child abuse or economic exploitation; stateless/ undocumented; in conflict with the law; living on the streets; and no longer in school but interested in going back to school.

The early registration campaign ensures the right of all school-aged learners to enroll and be equally provided with quality, accessible, relevant, and liberating basic education. Claudeth Mocon-Ciriaco

Senate shuts down division for Covid-19 disinfection

By Butch Fernandez @butchfBM

S

ENATORS, before adjourning Monday, suspended sessions until Wednesday to

allow disinfection of Senate premises after staffers of the Bills and Index Division were reported to be afflicted with the coronavirus disease (Covid-19).

“Just to play safe, we are declar-

Other regions with higher cases like Region 7, the HCUR is at 47 percent, while the ICU beds at 49 percent; Region 11 at 32 percent, 52 percent ICU beds, Cordillera Administrative Region at 56 percent, while ICU occupancy rate is at 71 percent.

“While the cases are increasing, a big number of it [are also expected] to go to the ICU,” she said.

ThetotalnumberofCovid-19cases in the country stood at 626, 893 after an additional of 5,404 infections were logged on Monday.

FLAG scorecard: 89 lawyers perish from Marcos era to Duterte admin

SCREENGRAB FROM SOTTO FB LIVESTREAM

PNP defends relief of Calbayog City’s top cop, intelligence chief

By Rene Acosta

Editor: Vittorio V. Vitug • Tuesday, March 16, 2021 A3

ing a lockdown,” Senate President Vicente Sotto III announced, after reporting that the entire staff of Bills and Index Division was on quarantine because of Covid-19 infection.

Sotto added however that while “the recommendation was for a complete lockdown, there will be a session on Wednesday for the Commission on Appointments.”

Senate Minority Leader Frank-

lin M. Drilon, however, stressed the urgent need to thoroughly disinfect the infected offices, noting that “nothing can be done [at the Senate] without the Bills and Index office.”

T least 89 lawyers have either been killed or have gone “missing” from the term of the late President Ferdinand E. Marcos up to the term of President Duterte.

Data released by the Free Legal Assistance Group (FLAG) showed that the Duterte administration has the highest number of recorded killings and disappearances involving lawyers, prosecutors and judges with 67, while there was none during the term of former President Fidel V. Ramos from 1992-1998.

During the martial law years from 1972 to 1986 under the Marcos regime, there were seven lawyers killed, while nine lawyers were killed during the six-year term of the late President Corazon Aquino from 1986 to 1992.

On the other hand, during the nine years that former President Gloria Macapagal-Arroyo was in power from 2001 to 2010, there were nine lawyers killed.

During the term of Arroyo’s predecessor, former President Joseph Estrada, who was ousted through People Power 2, there were only two lawyers killed and one during the term of former President Benigno Aquino Jr. from 2010 to 2016.

Almost all of the victims were shot dead by gunmen except for lawyer Edgar Mendoza who was served with coffee laced with sleeping pills before he was stabbed and burned inside a car on January 9, 2020.

Earlier, Justice Secretary Menardo Guevarra told lawyers to come together and devise measures to protect themselves amid the spate of killings involving members of the legal profession.

Guevarra even offered government’s assistance to expedite the processing of permits to possess and carry firearms for lawyers who intend to arm themselves for protection.

On the other hand, the Supreme Court-Office of the Court Administrator (OCA) has recently started its inventory of criminal cases involving lawyers who were either killed, harmed, threatened or attacked under the present administration.

The inventory started three months after Chief Justice Diosdado Peralta issued a memorandum directing Court Administrator Jose Midas Marquez to address the “growing concern over the continued attacks against lawyers and judges.”

Last January, upon the directive of CJ Peralta, Marquez held a series of consultations with the Department of Justice, Department of National Defense (DND), Department of the Interior and LocalGovernment,the Commission on Human Rights, lawenforcement agencies and lawyers groups on the issues of killings of lawyers and judges.

A4 Tuesday, March 16, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Multi-agency STGA launches drive to entice OFs to go into agribiz

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By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Sub-Task Force Group on Agribusiness (STGA) kickstarted its program to lure overseas Filipino workers (OFWs) to invest in agriculture with its first webinar encouraging Switzerland-based Filipinos to venture into agribusiness.

In a statement, the STGA said the Department of Agriculture (DA) and Department of Trade and Industry (DTI) successfully held its first webinar for OFWs last March 13 under its Joint Work Plan on Trade and Investment Promotion for 2021.

The webinar was organized by the newly opened DTI Trade Office

at the Philippine Embassy in Berne and by the Office of the Agriculture Counsellor of the Philippine Mission to the World Trade Organization in coordination with the Philippine Embassy in Berne together with the Philippine Mission to the United Nations and the Philippine Mission to the World Trade Organization.

The webinar AgriNegosyo Para sa mga Overseas Pinoys was the first of a series of webinars to be conducted among various Philippine foreign posts around the globe. The webinar was graced by three Philippine Ambassadors in Switzerland with officials from the member-agencies of the STGA serving as resource persons.

“The webinar provided overseas Filipinos [OFs] and prospective investors [OFIs] with information on starting an agribusiness, identifying investment opportunities, crafting business plans, accessing financing programs, trainings, available technology, and rebuilding network and linkages in all stages of the agriculture value chain,” the statement read.

Agriculture Undersecretar y Cheryl Marie Natividad-Caballero said during the webinar that the DA would help the OFWs from crafting a business plan, farming technical

know-how, accessing available financial resources to market linkages and distribution in pursuing their preferred agribusiness venture.

Trade Undersecretary Rafaelita M. Aldaba said the DTI is looking at innovating agriculture and agribusiness through the application of new technologies to improve domestic productivity and competitiveness.

Aldaba cited the DTI’s current Rural Agro-Enterprise Partnership for Development and Growth or RAPID Project that seeks to promote the growth of four high-value crops, namely, cacao, coconut, coffee and processed fruits and nuts, especially in the Mindanao region.

Aldaba explained that under the RAPID project, the DTI has partnered with academe in Mindanao to assess the current state of technology use and mechanization in cacao and coffee production. The study also seeks the applicability

of artificial intelligence, blockchain technology, Internet of things and smart agriculture in the production of these high-value commodities.

The DA told the BusinessMirror that the STGA has 11 more Agri-Negosyo webinars in the pipeline including the upcoming ones in South Korea, China and United States of America.

The webinars being organized by th DA-DTI-Philippine Embassies are focused on encouraging OFWs that are still abroad or have plans to return to the Philippines to invest in agribusiness. These webinars are different from the Kadiwa Agribiz Webinars being hosted by the DA that caters to the general public.

The BusinessMirror earlier published a Broader Look piece exploring the government’s efforts to lure more OFWs to invest in the agriculture sector to boost its productivity and growth. (Related story here:https://businessmirror.com.

ph/2021/01/28/foreign-fundsfor-farms-fishponds-fan-faithphl-can-pull-through-pandemic/) No less than Agriculture Secretary William D. Dar pointed out that Filipinos abroad are “the new breed of ‘agripreneurs’ who will help revive and reboot the countryside.”

The STGA was created last August 13 and is under the Inter-Agency Task Group on Food Security chaired by the Department of Agriculture (DA).

The DTI sits as the chair of the STGA with the DA as its co-chair while the Department of Science and Technology, Technical Education and Skills Development Authority, and the National Economic and Development Authority as its members.

The DTI noted that the STGA is “critical” in improving the country’s food security and ensuring government support for Filipino farmers, fishers, small and medium entrepreneurs and agripreneurs.

DTI CALLS ON BUSINESS SECTOR TO SUPPORT PENDING HOUSE PROPOSAL TO REFORM PENSION FUND SYSTEM

By Tyrone Jasper C. Piad @TyronePiad

T

HE Department of Trade and Industry (DTI) is calling on the business sector to support a measure allowing job hoppers to retain their pension fund savings in a single account.

The House Committee on Banks and Financial Intermediaries discussed on Monday House Bill 8938 or “An Act to Deepen the Capital Market

by Developing a Robust Institutional Investor Base and Strengthening the Regulatory Environment,” which cites the portability aspect of the pension fund savings of the employees. The bill aims to reform the pension fund system in order to boost

the capital market in the country.

“The savings being contributed to the pension fund will have a portability aspect wherein they can carry these from one job to another,” Trade Secretary Ramon Lopez said during the hearing. This is relevant, he explained, because younger workers today tend to hop from one job to another.

In a way, allowing the worker who are moving to another company to maintain their pension fund saving will ensure their financial protection, Lopez said.

“With a positive impact of a reinvigorated pension system to the economy and business, companies should support the measure,” the trade official reiterated. “This is part

of being good corporate citizens.”

According to the bill, a portable employee pension and retirement income (EPRI) account is created at the start of the employment of the worker. It is the responsibility of both the employer and the employee.

The EPRI account shall be established under the name of the employees with their PhilSys Number (PSN). If such identification is not yet available, a pensionretirementandincomenumber shall be assigned for the mean time.

Employers Confederation of the Philippines (ECOP) President Sergio Ortiz-Luis Jr. told the BusinessMirror that the portability aspect of pension fund savings seems ideal “in principle,” saying he supports “anything that will make availment

of the pension easier.”

Ortiz-Luis said pension fund savings are usually wasted when employees decide to move to another company. It would be beneficial if the workers will be able to keep an account where they can continuously pour in their savings, he added.

Still, the ECOP president explained that this initiative may require several undertakings as companies have their individual service providers, adding that the transition is something that the bill should consider as well.

For the part of Financial Executives Institute of the Philippines (Finex), it expressed support for the passage of the bill eyeing to bring changes to the current pension fund

system as this can help both the employers and employees.

“This bill that is now under consideration is merely a step in providing a more flexible framework for employers to help their increasingly mobile workers accumulate enough in pension funds to finance portable life postretirement,” Finex President Francisco ED. Lim said during the hearing.

Toward economic recovery

THE trade official also pointed out that the bill can also contribute in helping the ailing economy due to the lockdown measures amid the pandemic. To recall, the Philippine economy contracted by 9.5 percent on average in the past year.

Having a “more secure” pension

savings will allow the retirees to have a “decent quality of life through their sunset years,” he said. This provides a “stronger purchasing power,” enabling the retired workers to contribute in boostinglocaldemandfortheeconomy.

Greater demand is seen to bode well for the production sector in the country and attract more investments in the future, he added.

“There is a positive correlation with higher pension and higher real capital, with greater savings and investments creating more jobs for our people,” Lopez explained. “It has also been cited that these long-term savings are the right sources for longterm investments and there will be more funds for the likes of infrastructure and education.”

Transport operators and drivers People, process, technology told: Take disinfection seriously The proper disinfection of public transport vehicles is a key factor in keeping our commuters safe from Covid-19. We should not be hasty in the cleaning and disinfection of our vehicles.

BM

Transportation Secretary Arthur P. Tugade

By Lorenz S. Marasigan @lorenzmarasigan

T

RANSPORT operators and drivers of public transport vehicles should take the disinfection of their vehicles “seriously” and observe “extra diligence,” the chief of the Department of Transportation (DOTr) said on Monday.

“The proper disinfection of public transport vehicles is a key factor in keeping our commuters safe from Covid-19. We should not be hasty in the cleaning and disinfection of our vehicles,” Transportation Secretary Arthur Tugade said.

His statement came on the heels of a recent viral video that showed

staff of the Metro Rail Transit (MRT) Line 3 “hastily and playfully disinfecting” a train car.

The transport department has since rectified this mistake.

“The riding public trusts us that the jeepneys, the buses and the other public transport vehicles that we operate are safe, and virus-free,” Tugade said.

He reminded transport workers, who are considered to be part of the frontline service, that they play “a major role” in curbing the pandemic.

“As operators and drivers of public transport vehicles, you do not only bring passengers from their homes to their workplaces and back. You are also given the responsibility to make

sure that they are healthy and safe when they arrive at their destinations,” Tugade said.

In the same vein, Tugade noted that passengers should also be mindful of their part and follow the health protocols for public transport: wearing masks and face shields, physical distancing, refraining from eating or talking and other protocols.

“Let us do our share by reporting immediately to the proper authorities any breach of health protocols that are committed inside public transport vehicles by your fellow passengers. We are all in this fight together,” Tugade said.

Commuters who may have witnessed any violation of health protocols inside public transport vehicles are advised to immediately contact the Land Transportation Office, Land Transportation Franchising and Regulatory Board, the InterAgency Council for Traffic (I-ACT), rail transport operators and air and maritime sector authorities.

The Philippines continues to grapple with Covid-19 pandemic with patient counts rising astronomically over the last few weeks. This prompted the government to implement old protocols such as a unified curfew in the National Capital Region to stop the spreading of the virus.

CCC calls for wider ban on non-essential plastics

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AYING the use and improper disposal of plastic waste is not only a garbage or a pollution issue but also a climate concern, the Climate Change Commission (CCC) has called for a wider ban on non-essential and single-use plastics to reduce greenhouse-gas emission (GHG) from all sectors.

In a news statement, the CCC said that while plastics are an essential component of products and packaging due to its durability, flexibility, and low cost, plastics originate from fossil fuels and emit GHGs, which may hasten climate change.

It cited the report “Plastic & Climate: The Hidden Costs of a Plastic Planet” released by the Center for International Environmental Law (CIEL), which states that GHGs are emitted at each of the stages of the plastic life cycle: 1) fossil fuel extraction and transport, 2) plastic refining and manufacture, 3) managing plastic waste, and 4) plastic’s ongoing impact once it reaches oceans, waterways, and landscape. Jonathan L. Mayuga

By Henry J. Schumacher

F

OOD for thought: Can your organization move at the speed of technology?

The answer is, most likely, no.

Technology far outpaces the speed at which companies can respond, leaving a constant state of catch up and contributing to the vast ecosystem of technical debt.

The push for digital transformation urges organizations to upgrade and overhaul technology stacks toward service-based models and away from physical technology stacks.

Moving too fast carries its risks. Rapid transitions threaten to leave employees behind, creating tension throughout the business. Or worse, security shortcomings emerge from poor software quality.

But digital transformation goes beyond technology—if companies want to engage in a new era of technology, they must rethink how work is done too.

Old processes applied to new systems do little. Instead, CIOs and other business technology leaders are called to adopt more nimble operations. That means

less prescribed, and bureaucratic, processes.

In fact, the drumbeat of “people, process, technology” highlights the most important aspect of digital transformation: the people.

Overall, the inexorable shift from simple digitization (the Third Industrial Revolution) to innovation based on combinations of technologies (the Fourth Industrial Revolution) is forcing companies to reexamine the way they do business.

The bottom line, however, is the same: business leaders and senior executives need to understand their changing environment, challenge the assumptions of their operating teams, and relentlessly and continuously innovate.

The Fourth Industrial Revolution will change not only what we do but also who we are. It will affect our identity and all the issues associated with it: our sense of privacy, our notions of ownership, our consumption patterns, the time we devote to work and leisure, and how we develop our careers, cultivate our skills, meet people, and nurture relationships. It is already changing our health and leading to a “quantified” self, and sooner than we think it may lead to human augmentation.

The list is endless because it is bound only by our imagination.

In the end, it all comes down to people and values. We need to shape a future that works for all of us by putting people first and empowering them. In its most pessimistic, dehumanized form, the Fourth Industrial Revolution may indeed have the potential to “robotize” humanity and thus to deprive us of our heart and soul.

But as a complement to the best parts of human nature—creativity, empathy, stewardship—it can also lift humanity into a new collective and moral consciousness based on a shared sense of destiny.

It is incumbent on us all to make sure the latter prevails.

In 2021, the focus on people will drive digital transformation as companies think through returns to the office and what a hybrid workplace will look like.

What are we supposed to be involved in these days? Digitalization and innovation? To get there, we are asking ourselves how we can improve planning, forecasting, budgeting, run simulations, run plans and analytics in a very visual and intuitive manner. What tools are available? Are we making those tools available to the organization? And more importantly: are we training our important asset, our people, adequately?

Moving forward in 2021, I firmly believe that management has clear expectations regarding information requirements, such as: • Monitor and manage business value drivers and simulate how key drivers impact financial outcomes; • Analyze performance variances and identify influencers that impact business outcomes; • Define, measure and optimize sales performance by line of business, product offerings, geographies and sales reps; • Reduce budgeting cycles and run quick re-forecasts by effectively capturing business/market fluctuations; and • Perform demand and supply planning, inventory planning, procurement planning, work force planning and more.

If this is correct, you have no choice but to train your staff in IT and operations so that they will be capable to provide management with the daily data analytics and information visualization, based on Microsoft’s Excel and Power BI. Luckily, detailed training is available for companies, for industry sectors and subsectors, and can be offered to you.

Feedback is welcome; contact me at hjschumacher59@gmail.com

News BusinessMirror

www.businessmirror.com.ph

QC govt lists workplaces among ‘most common’ sources of virus

W

ORKPLACES are among the most common sources of Covid-19 infections in Quezon City, according to their City Epidemiology and Disease Surveillance Unit (CESU).

CESU reported on Monday that of the 722 positive cases from February 28 to March 13, 2021, 104 cases or 14 percent occurred in workplaces, and brought home, infecting members of the household.

The household became the most common exposure setting, where 256 cases or 35 percent occurred.

“Reports showed that household transmission stems from one member of the household acquiring the virus from his workplace,” Mayor Joy Belmonte said in a news statement.

As such, business establishments were ordered to create a workplace Covid-19 Task Force that will implement prevention, detection, contact tracing, isolation, and management strategies of the company, office, or store.

Emergency measures and stricter protocols were included in the supplemental general community quarantine (GCQ) guidelines issued by the local government on Sunday to mitigate the spread of cases in the country’s largest city in terms of population size.

The guidelines that took effect on Monday shall be effective until March 31. It covers workplaces, public areas,

and business establishments.

With the unified curfew in Metro Manila, public safety hours shall be from 10 p.m. until 5 a.m.

“During public safety hours, all persons should be at home, except for persons [i] still out for purposes of work, or on the way home from work, as shown by company ID, APOR [Authorized Person Outside Residence] ID, or other official ID; [ii] dealing with emergencies; or [iii] traveling for purposes of air/sea travel as shown by pre-booked tickets,” the guidelines reminiscent of the early Covid-19 detection in the country read.

Employees’ welfare

THE QC government said employees should be provided with an alternative mode of transportation to reduce their exposure to other people on their daily commute.

An alternative work schedule was also recommended to reduce the number of employees inside an establishment at any given time.

The city government likewise mandated business owners and managers to use the KyusiPass Contact Tracing for their employees and customers.

Other businesses such as sari-sari (retail) stores were ordered closed by 10 p.m. while the operation of gyms, spas, and Internet cafés are suspended until the end of the month. PNA

Tuesday, March 16, 2021 A5

Experts to Duterte admin: ‘Make every penny count’

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By Cai U. Ordinario

@caiordinario

HE Manila-based Asian Development Bank (ADB) is keen on extending $3 billion worth of funding support to the Philippines this year.

In a TV interview, ADB Philippines Country Director Kelly Bird said the amount would be used to help the government finance various infrastructure projects this year.

Bird said the ADB is also be providing policy-based lending to the Philippine government for budget support. These funds, Bird said, can help the country recover from the recession.

“We are here and remain committed to support the Philippines in getting through this pandemic,” Bird said. “The pandemic carries a lot of unknowns particularly on the economy and on the social sector and that is why ADB remains fully com-

mitted to supporting the Philippines through this pandemic.”

Apart from this, Bird said the ADB is also working with the Asian Infrastructure Investment Bank (AIIB) on co-financing other projects in the Philippines. Discussions for these future projects are still ongoing.

The ADB and AIIB co-financed the $700-million loan recently extended to the Philippines for vaccine procurement and distribution. This is on top of the $500-million loan extended by the World Bank for the same purpose.

He said ADB’s efforts to help the country fight the pandemic includes the $125 million extended

for medical supplies equipment and renovations to isolation wards last year; $10 million to provide food support to 160,000 family in Manila during the lockdown last year and a $3-million grant for the JB Lingad Memorial Hospital.

Recently, he said, ADB provided a $2-million grant to support the Department of Education with their Last Mile schools, providing equipment to poor children in remote areas for the distance learning.

“We are now moving from that relief stage of last year and we are moving on to that rebuild stage,” Bird said.

On Monday, local economists stressed the need to “make every penny count,” especially at this time when Covid-19 cases are rising and a new stimulus may be needed to help Filipinos weather the crisis.

Former University of the Philippines School of Economics Dean Ramon Clarete agreed and told the BusinessMirror that making every peso count should always be the national government priority.

Clarete said relying on borrow-

ings is not enough to meet all the government’s needs, especially in this crisis. This now requires the Duterte administration to prioritize its spending.

Prioritizing resources, in the view of Action for Economic Reforms (AER) Coordinator Filomeno Sta. Ana III, could mean reducing spending for funding to the police and military as well as to intelligence and counterinsurgency.

These funds, Sta. Ana told the BusinessMirror, should then be channeled to the country’s health and social protection needs.

Former Dean of the University of the Philippines School of Labor and Industrial Relations Rene E. Ofreneo agreed and said the national government should avoid spending on “wasteful projects, borrowing just to keep the Central Bank happy with its reserves.”

Ofreneo said stimulus spending can be done to finance efforts to rebuild-renew-retrofit communities of the poor. This includes urban poor, rural poor, periurban poor, coastal poor, and upland poor.

Alsons provides host communities with vehicles, medical equipment Gas price up by ₧1.25, A diesel by ₧0.90 today LSONS Power Group, Mindanao’s first private-sector power generator, recently turned over more than P10 million worth of medical equipment and emergency response vehicles to its host communities in Sarangani Province and Zamboanga City to help the local government units in both areas in the fight against the Covid-19 pandemic.

The group’s Western Mindanao Power Corp. (WMPC) delivered an emergency response vehicle, a utility vehicle, face masks for 7,000 beneficiaries, several laptop and desk top computers, as well as bags of rice and other items to residents and officials of WMPC’s host barangay of Sangali in Zamboanga City. WMPC

By Lenie Lectura

operates a 100-megawatt (MW) diesel power plant supplying electricity to Zamboanga City and nearby areas. WMPC Plant Manager Engr.

Jose Marie T. Torrejon (left picture inside the vehicle) handed over the vehicles and other items to Sangali

Barangay Chairman Hon. Daud T. Bakil (left picture extreme left) and other city and barangay officials.

In another part of Mindanao, Alsons Power’s Sarangani Energy Corp.

(SEC) handed in a fully-equipped ambulance to the Provincial Gov-

ernment of Sarangani. The ambulance will be assigned to the newly inaugurated community hospital in the Municipality of Glan. Sarangani Provincial Vice Governor Elmer de Peralta and other official received the ceremonial key to the ambulance

from SEC Community Relations Manager Joel Aton (right picture).

SEC operates a 210-MW baseload coal- fired power plant that provides power to Sarangani Province, General Santos City and other key areas of Mindanao.

Bill creating energy research institute gets final House nod

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HE House of Representatives on Monday overwhelmingly approved on third and final reading a proposal seeking to establish the Philippine Energy Research and Policy Institute to ensure energy

security, equity, and sustainability.

A total of 208 lawmakers voted in favor of House Bill 8928, which provides for the establishment of the Philippine Energy Research and Policy Institute in the University of the

Philippines (UP). No one voted in the negative or abstained from voting.

The institute shall be created as an agency separate and independent from the UP but attached to the UP for policy coordination

and operation.

Among its specific objectives are to conduct pertinent policy research on energy issues and ensure the coordination and timely dissemination of results to key government agencies

to guide policy and decision-making process; and to provide timely technical assistance to the government on energy planning and addressing energy issues needing policy direction and advice. PNA

@llectura

O

IL firms will hike pump prices starting Tuesday morning.

They announced separately that gasoline prices will go up by P1.25 per liter, diesel by P0.90 per liter and kerosene by P0.85 per liter.

Seaoil Philippines, Total Philippines, Caltex Philippines, Pilipinas Shell, PTT Philippines said they will implement the price adjustment at 6 a.m. of March 16.

Cleanfuel, meanwhile, will adjust its fuel prices by the same amount at 4:01 p.m. also on Tuesday.

Other oil firms have yet to announce their price adjustment as of press time.

Last week, oil prices were reduced

by P0.10 per liter for gasoline products, P0.55 per liter for kerosene and P0.35 per liter for diesel.

‘No’ votes on division of Palawan Bangsamoro readies FOI policy prevails on second day of canvassing

By Samuel P. Medenilla @sam_medenilla

V

OTERS opposed to the division of Palawan into three separate provinces continue to outnumber those who support the proposal during the second day of canvassing of the results of the Palawan plebiscite.

As of 6:25 p.m. on Monday, Comelec spokesman James Jimenez the Provincial Board of Canvassers (PBOC) has already processed Certificate of Canvass (COC) of 14 of 23 municipalities of Palawan.

Based from the partial and unofficial count, a total of 128,458 people voted “no” for the ratification of Republic Act (RA) 11259, or the Act Dividing the Province of Palawan into three provinces.

Meanwhile only 103,766 voted “yes” for the ratification.

Among the COCs processed in the second day of canvassing are El Nido, Aborlan,SofronioEspañola,Rizal,Bataraza,SanVicente,Taytay,Roxas,Balabac.

Quezon, Dumaran, and Araceli.

PBOC started its canvassing on Sunday with the COCs of the municipalities of Narra and Brooke’s Point.

Except for Rizal and Bataraza, all of the said municipalities voted against the ratification of RA 11259.

The voter turnout for the 14 municipalities range from 47.46 percent to 69.33 percent.

The municipalities with the highest turnout of voters are Bataraza (30,041), Taytay (25,966), and Brooke’s Point (24,178).

The lowest are in Araceli (5,422), Dumaran (8,015), and Sofronio Española (9,219).

Comelec earlier said it is targeting to come out with the result of the Palawan Plebiscite by Tuesday.

M

EMBERS of Parliament of the Bangsamoro Transition Authority (BTA) have filed a Freedom of Information (FOI) bill, which once enacted shall be known as the “Bangsamoro Freedom of Information Act of 2021.”

BTA Bill 83 contains provisions similar to the proposed FOI Act (House Bill 05776) pending in Congress.

It is an effort of the Bangsamoro government to harmonize with President Duterte’s Executive Order on FOI and Chief Minister Ahod Ebrahim’s call for moral governance and to provide a local mechanism that upholds people’s right to information.

By adopting a policy of transparency, the Bangsamoro government

foresees increased public trust and empowerment of the Bangsamoro.

The bill directs all offices in the Bangsamoro government to make accessible to the public all official and public records and information, unless otherwise stated in the exceptions and by present laws and jurisprudence.

Consequently, the Bangsamoro Information and Communications Technology Office (BICTO) shall establish an online FOI portal so people may conveniently and efficiently access government information.

BICTO will also be designated to monitor the web sites of offices and provide them with capacity-building programs to make sure they comply

with the policy’s requirements.

ThebillalsomandatestheBangsamoro Information Office (BIO) to be the FOI Focal Office. BIO shall oversee the implementation of the bill, including the composition of an FOI Manual, identification of an FOI Receiving Officer per office and establishment of a request tracking system.

The Presidential Communications Operations Office (PCOO), as the lead implementer of the FOI Program, recognizes this new development as vital to its vision of a whole-of-government approach in enforcing transparency in public service and crucial to the institutionalization of the Bangsamoro government.

DTI: Philippines exports Davao durian to Australian market T

HE Philippines has exported its first frozen durian products from Davao City to Australia, the Department of Trade and Industry (DTI) has announced.

In a news statement, the DTI said the initial shipment arrived at Port of Melbourne on March 2.

Davao durian products were imported by Aus Asia Produce Pty. Ltd., an im-

porter and distributor of exotic tropical fruits, Asian vegetables, herbs, and other products for the Australian market.

Two varieties of Davao durian were included in the initial shipment—

Puyat and Duyaya.

“Puyat is sweet with a hint of ‘bitterness’ as desired flavor amongst new generation durian connoisseurs. Whilst Duyaya has the most flesh of any durian

I have ever seen in my life, and I’ve eaten manybeforeandthisisevenmoremeaty,” Aus Asia director Thanh Truong said.

Further, Philippine Ambassador to Australia Hellen De La Vega said the

recent shipment of the country’s durian products in land down under is a breakthrough and it could be expanded to other fruits and vegetables exports from Mindanao. PNA

BusinessMirror

A6 Tuesday, March 16, 2021

ESTABLISHMENT / ADDRESS NO.

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21TH CONSTRUCTION DEVELOPMENT CORPORATION #28 Lot 12 Blk 94 R. Papa Ave. Cor. P. Garcia St. Phase 6, Afpovai Western Bicutan Taguig City

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KONGANBUDDIES MARKETING INC. 48/f Lower Ground Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City

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FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower Moa Coral Way Brgy. 076 Pasay City

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ZHANG, HEEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

SEO MANAGING DIRECTOR

GUEST CHOREOGRAPHER AND GUEST ARTIST

CHEN, JIE Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

YU, TIANJUE Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

BORAM MILLENIALS MARKETING CORPORATION (BORAM MILLENNIAL CENTER AND BORAM MILLENNIAL STORE) #136 Timog Ave. Sacred Heart 4 Quezon City 15.

YU, TAEHO South Korean

ACCOUNT OFFICER

CATHAY PACIFIC AIRWAYS LIMITED 20/f Lkg Tower 6801 Ayala Ave. Bel-air Makati City 16.

MORRIS, DONALD JACOBUS Dutch

COUNTRY MANAGER

COFFRAL FORMWORKS AND SCAFFOLDS, INC. #530 Unit 2701 Summit One Office Tower Shaw Blvd. Brgy. Highway Mandaluyong City 17.

SOUPART, TOM NICOLAS Belgian

AERIAL PLATFORM SPECIALIST

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 5th And 6th Floors, 8/10 Upper Mckinley Building Mckinley Hill Cyberpark Fort Bonifacio Taguig City 18.

LEE, EUNHEE South Korean

SENIOR PROCESS EXECUTIVE - DATA

CREAVALUE PRIME HOLDING INC. Unit 1501 Park Triangle Corporate Plaza Bonifacio Global City Fort Bonifacio Taguig City 19.

MOO KOK KEONG Malaysian

CHINESE MARKETING CONSULTANT

CXLOYALTY PHILIPPINES, INC. 10f W Fifth Building 32nd St. Cor. 5th Avenue Bonifacio Global City, Fort Bonifacio Taguig City 20.

MIKETABU, GRACIAS MUAMBA Congolese

FRENCH TEAM LEAD

DA PROSPERITAS HOLDING INC. 16/f Tower 6789 6789 Ayala Ave. Bel-air Makati City 21.

JIANG, XINDE Chinese

CHINESE SPEAKING ACCOUNTING ASSISTANT

DYNA BINARY HOLDINGS INC. 18/f Tower 2 The Enterprise Center, 6766 Ayala Ave., Cor. Paseo De Roxas San Lorenzo Makati City 22.

DINH THI THU HIEN Vietnamese

CHINESE SPEAKING ADMIN ASSOCIATE

EUROPEAN INTERNATIONAL SCHOOL, INC. #75 Swaziland St. Better Living Subd. Don Bosco Parañaque City 23.

ROSS, VOLKER JOSEF German

VICE PRESIDENT FOR GERMAN AFFAIRS

EVEREST ACADEMY INC. 3846 G/f 38th North Drive Fort Bonifacio Taguig City 24.

LOPEZ FABERO, MARTA Spanish

TEACHER

EXQUISEEN INC. Unit 1 & 3 14/f Shhg Law Center Sycip Law Center 105 Paseo De Roxas San Lorenzo Makati City 25.

HONG, JIANQIANG Chinese

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

LI, GUILIN Chinese

BILLION DRAGON OUTSOURCE PHILS., INC. 3/f Ayala Mall Southpark National Road Alabang Muntinlupa City 13.

IT TECHNICAL MANDARIN

33.

BALLET PHILIPPINES FOUNDATION, INC. 4f Ccp Bldg. Ccp Complex Roxas Blvd. Brgy. 076 Pasay City 12.

31.

ZHANG, YINGCHUN Chinese

CHINESE CUSTOMER SERVICE

ASPEED WEB SOLUTIONS INC. 7/f Finman Center 131 Tordesillas St. Bel-air Makati City 11.

IT TECHNICAL MANDARIN

CHEN, XIAOLONG Chinese

ANOC99 CORPORATION 5/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City HUANG, WEI Chinese

30.

CHENG, CHUANLIN Chinese

32.

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

FIRST GREAT COMPUTER TECHNOLOGIES INC. Lot 5 Sta. Agueda Cor. Queensway Pagcor Drive Sto. Niño Parañaque City

CHINESE SPEAKING SYSTEMS ANALYST

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

1.

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City

www.businessmirror.com.ph

POSITION

66.

HARDI Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

67.

JUDHI CHRISTANTO Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

68.

ROBIN Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

MAX INFOTECH ACCENT INC. 18th Flr. Vector 3 Bldg. Northgate Cyberzone Fcc Alabang Muntinlupa City 69.

JIANG, TAO Chinese

CHINESE CALL CENTER AGENT (MANDARIN SPEAKING)

MEC HOLDINGS CORPORATION # 307 P. Tuazon Cor. 21st Ave. Tagumpay 3 Quezon City 70.

OOI ZEE YING Malaysian

BUSINESS DEVELOPMENT MANAGER

MINDSCAPE CREATIVES INC. Unit 19-o, Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City 71.

LIU, ZEQI Chinese

MANDARIN MARKETING SPECIALIST

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

109.

YANG, YONG Chinese

CHINESE CUSTOMER SERVICE

110.

YIN, BINGWEI Chinese

CHINESE CUSTOMER SERVICE

111.

YUAN, LING Chinese

CHINESE CUSTOMER SERVICE

112.

YUAN, XIA Chinese

CHINESE CUSTOMER SERVICE

113.

ZENG, QISONG Chinese

CHINESE CUSTOMER SERVICE

114.

ZHANG, DEPENG Chinese

CHINESE CUSTOMER SERVICE

115.

ZHANG, LINJIA Chinese

CHINESE CUSTOMER SERVICE

116.

ZHANG, MINGJUN Chinese

CHINESE CUSTOMER SERVICE

117.

ZHANG, YANG Chinese

CHINESE CUSTOMER SERVICE

118.

ZHU, BAOQUAN Chinese

CHINESE CUSTOMER SERVICE

119.

ZOU, MENGYONG Chinese

CHINESE CUSTOMER SERVICE

120.

BAI, TAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

121.

CHEN, YI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

122.

CHEN, YING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

123.

CUI, HAODONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

124.

FENG, JUNWEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

125.

HUANG, ZUYI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

126.

LIANG, MINGHUI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

127.

LIU, HUIYING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

128.

MA, XIAOFENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

129.

QU, GUODONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

130.

SU, GUIQI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

131.

SUN, YANZHI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

132.

WANG, PEIJIN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

133.

XIAO, YIFENG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

134.

YANG, JUN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

135.

YUAN, YANXIA Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

136.

ZHANG, JINGRONG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

137.

HUYNH TAN HUNG Vietnamese

VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE

72.

CAI, CHAOMING Chinese

CHINESE CUSTOMER SERVICE

73.

CHEN, CHENG Chinese

CHINESE CUSTOMER SERVICE

74.

CHEN, YONGJI Chinese

CHINESE CUSTOMER SERVICE

75.

CHEN, SHENG Chinese

CHINESE CUSTOMER SERVICE

76.

DANG VAN THANG Vietnamese

CHINESE CUSTOMER SERVICE

77.

GE, YANGCHUN Chinese

CHINESE CUSTOMER SERVICE

78.

GU, JINGMIN Chinese

CHINESE CUSTOMER SERVICE

79.

GUAN, YINGWEI Chinese

CHINESE CUSTOMER SERVICE

80.

HE, SHI Chinese

CHINESE CUSTOMER SERVICE

81.

HOANG VAN DUONG Vietnamese

CHINESE CUSTOMER SERVICE

82.

LAI, BAIYUN Chinese

CHINESE CUSTOMER SERVICE

83.

LI, SONGYI Chinese

CHINESE CUSTOMER SERVICE

84.

LI, ZHICHENG Chinese

CHINESE CUSTOMER SERVICE

85.

LI, HAO Chinese

CHINESE CUSTOMER SERVICE

86.

LI, WENJIE Chinese

CHINESE CUSTOMER SERVICE

87.

LIAO, ZHENXUAN Chinese

CHINESE CUSTOMER SERVICE

88.

LIN, WEIXIN Chinese

CHINESE CUSTOMER SERVICE

89.

LIU, YIN Chinese

CHINESE CUSTOMER SERVICE

90.

LIU, YANG Chinese

CHINESE CUSTOMER SERVICE

91.

LIU, XIAOLI Chinese

CHINESE CUSTOMER SERVICE

92.

LUO, HAO Chinese

CHINESE CUSTOMER SERVICE

93.

NGO THI DAO Vietnamese

CHINESE CUSTOMER SERVICE

94.

SU, ERYONG Chinese

CHINESE CUSTOMER SERVICE

MT TRAVEL AGENCY INC. 5/f Filipino Bldg. 135 Dela Rosa Cor. Legaspi Sts. San Lorenzo Makati City

95.

THI THI OO Myanmari

CHINESE CUSTOMER SERVICE

142.

SHAO, JUNPING Chinese

96.

WANG, YONG Chinese

TRAVEL & SALES COORDINATOR - MANDARIN SPEAKING

CHINESE CUSTOMER SERVICE

97.

WANG, YUNLI Chinese

143.

CHINESE CUSTOMER SERVICE

TAO, FEI Chinese

TRAVEL & SALES COORDINATOR - MANDARIN SPEAKING

98.

WANG, YANAN Chinese

CHINESE CUSTOMER SERVICE

144.

XU, DANCHEN Chinese

TRAVEL & SALES COORDINATOR -MANDARIN SPEAKING

99.

WANG, LIJIE Chinese

CHINESE CUSTOMER SERVICE

100.

WEI, YINGJUE Chinese

CHINESE CUSTOMER SERVICE

101.

WEN, YONG Chinese

CHINESE CUSTOMER SERVICE

102.

WILLIAM PANG CHEW LONG Malaysian

CHINESE CUSTOMER SERVICE

CUSTOMER SERVICE REPRESENTATIVE

103.

XIE, CAIHUA Chinese

CHINESE CUSTOMER SERVICE

WANG, DEYANG Chinese

CUSTOMER SERVICE REPRESENTATIVE

104.

XIONG, GANG Chinese

CHINESE CUSTOMER SERVICE

63.

YU, QIAOQI Chinese

CUSTOMER SERVICE REPRESENTATIVE

105.

XU, BIN Chinese

CHINESE CUSTOMER SERVICE

CUSTOMER SERVICE REPRESENTATIVE

106.

XUE, CHAOLONG Chinese

CHINESE CUSTOMER SERVICE

64.

YUAN, PENG Chinese

107.

YAN, YUYUAN Chinese

108.

YANG, JUNYAO Chinese

GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor Silver City 4, Ortigas East Ugong Pasig City 51.

TANG, RUITING Chinese

MARKETING STAFF MANDARIN SPEAKING

INFOVINE INC. 9/f Y Tower, Moa Complex Coral Way Drive Cor. Macapagal Brgy.

076 Pasay City CHIN LI LI Malaysian

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

53.

GAN, TIAN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

54.

ZHENG, YUANHAO Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

52.

JINDINGYUAN BUSINESS SUPPORT, INC. Filinvest Cyberzone Bldg. B C Bay City Brgy. 076 Pasay City CHEN, CHUNFEI Chinese

CUSTOMER SERVICE REPRESENTATIVE

56.

LI, HAOTIAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

57.

LIANG, BAN Chinese

CUSTOMER SERVICE REPRESENTATIVE

58.

LIN, XIANG Chinese

CUSTOMER SERVICE REPRESENTATIVE

TUN TUN WIN Myanmari

CUSTOMER SERVICE REPRESENTATIVE

55.

59.

60.

61.

62.

65.

WANG, GUOXUAN Chinese WANG, TONGSHUN Chinese

ZHANG, TIANMEI Chinese

CUSTOMER SERVICE REPRESENTATIVE

CUSTOMER SERVICE REPRESENTATIVE

MPOTECH DIGITAL SYSTEM INC. 2/f 331 Bldg. Sen. Gil Puyat Ave. Bel-air Makati City 138.

INDRAYENTI Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

139.

LINA Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

140.

SOFIA ENGGELINA Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

141.

SUMARNI Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f Pearl Marina Building Pacific Drive Don Galo Parañaque City 145.

BO, WENGANG Chinese

CHINESE CUSTOMER SERVICE

146.

CHEN, JINLIE Chinese

CHINESE CUSTOMER SERVICE

147.

CHEN, XUBO Chinese

CHINESE CUSTOMER SERVICE

148.

CHEN, XIAOYU Chinese

CHINESE CUSTOMER SERVICE

149.

CHEN, HUAZHONG Chinese

CHINESE CUSTOMER SERVICE

150.

FANG, ZHENG Chinese

CHINESE CUSTOMER SERVICE

151.

FENG, CHENGZE Chinese

CHINESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE

152.

GU, JUN Chinese

CHINESE CUSTOMER SERVICE

CHINESE CUSTOMER SERVICE

153.

HONG WAI HOONG Malaysian

CHINESE CUSTOMER SERVICE

News

BusinessMirror Tuesday, March 16, 2021

A7

DILG seeking addl funds to keep contact tracers employed until December

T

By Samuel P. Medenilla

@sam_medenilla

HE Department of the Interior and Local Government (DILG) has requested for additional funding from Congress to maintain the employment of its contact tracers for the rest of the year.

In an interview with PTV in Monday, Interior Undersecretary Jonathan Malaya said their existing budget would only be enough to keep their contact tracers employed until June 2021.

“What we want is to ensure DILG [could be able keep] the services of

the contact tracers from July to December,” Malaya said.

Last January, DILG said it would only be able to rehire 15,000 of the original 50,000 contact tracers it was able to employ in 2020 due to lack of funding.

Malaya said they already request-

ed for additional funding from lawmakers for the said purpose.

“They said it is already included in the Bayanihan 3 [bill]. So it is now up to Congress and our economic managers if the Bayanihan 3 will be passed into law and will include the funds requested by DILG for contact tracers,” Malaya said.

Malaya said maintaining the additional contact tracers will allow DILG to help local government units (LGU) in their contact tracing efforts, which he said remains below the established standards.

He noted most LGUs are only able to trace 6 to 7 persons who had contact with every person infected with the novel coronavirus disease (Covid-19).

The ratio, based on what its prescribed by the government, should be 30 to 1.

PNP: Sinas complied with health protocols

P

HILIPPINE National Police (PNP) officer in charge, Lt. Gen. Guillermo Eleazar, on Monday said PNP chief Gen. Debold Sinas complied with the health protocols in going to Oriental Mindoro last week.

In a news conference at the PNP headquarters in Camp Crame, Eleazar said Sinas, whose trip was scheduled for March 9, underwent a swab test, which revealed that he was negative for the coronavirus disease 2019 (Covid-19).

“So in effect for 48 hours, okay siya na pumunta siya doon. ’Yung test niya nung umaga, that is supposed to be para pagpunta niya sa Palawan (which was scheduled for March 11) kasi. The day after that and within 48 hours dapat magpacheck siya para pumunta sa Palawan (He can go there. The test in the morning was supposed to be for the Palawan trip. Within 48 hours he should be tested before going to Palawan)” he added.

Eleazar said Sinas interacted

mostly with PNP personnel and of the 98 persons they have accounted for, only 10 were identified to be high-risk close contacts.

“But just the same, itong 98 inoobserbahan at kung kinakailangan itetest natin (The 98 persons are being observed if needed to be tested),” he added.

PNP Directorate for Operations, Maj. Gen. Alfred Corpus, said he joined Sinas in a command visit to Oriental Mindoro.

Sinas was supposed to monitor and supervise the plebiscite in Palawan when he tested positive for Covid-19. “’Yung sinabi ng ating OIC na si Chief PNP had this RT PCR test last March 9 that is purposely for the visit in (Oriental) Mindoro. Now since Palawan requires RT PCR 24 hours, 48 hours prior to our arrival, he had to have his RT-PCR test again.

So ‘yung March 9 talagang pasok siya doon sa visit niya sa (Oriental) Mindoro (The March 9 swab test was apt for the Oriental Mindoro visit). The

RT-PCR conducted on March 11 was for the Palawan plebiscite,” Corpus said.

Corpus said the visiting team complied with all the requirements set by Calapan City.

Unified curfew

MEANWHILE, Eleazar said 370 areas have been identified for the setting up of checkpoints for the unified curfew in the National Capital Region starting March 15.

Around 9,000 police personnel in Metro Manila will be deployed for this duty, he added.

Aside from manning checkpoints, police officers will conduct roving patrols.

In a virtual presser, Presidential Spokesman Harry Roque said he would leave it to the Department of the Interior and Local Government (DILG) to decide on the fate of Sinas.

“I leave that to DILG, kasi sila po iyong mayroong supervision sa PNP (because they have supervision over the PNP),” Roque said. PNA

DOJ chief insists AO 35 TF now working on high-profile incidents

T

HE inter-agency task force (TF) on incidents covered by Administrative Order 35 have started working on recent high-profile incidents.

Department of Justice (DOJ) Secretary Menardo Guevarra said Monday the task force has made an assessment on what to investigate and created special investigating teams last week.

“We have provided the necessary funding for the work of these special investigating teams,” he said during a news briefing in Malacañang.

“Nakukuha naman ng DOJ ang (DOJ is getting the) support,” he added when asked whether government agencies, such as the National Bureau of Investigation, police and military, are cooperating.

Unless people who have personal knowledge and information about these incidents come forward, it will be difficult for investigators, Guevarra said as he urged witness to come forward.

Among the incidents he was referring to were the enforcement of warrants of arrest against suspected communist combatants working under the cloak of activist groups and the incident on Commonwealth Avenue between the Quezon City police and elements of the Philippine Drug Enforcement Agency (PDEA).

Guevarra said they are also working to engage the Commission on Human

We have provided the necessary funding for the work of these special investigating teams.

Justice Secretary Menardo Guevarra

Rights (CHR) as a prime stakeholder in the investigations involving civil and political rights.

“We are also trying to request the assistance and support of the CHR kasi baka meron silang (because they might have) information that they gathered and which may be useful to the work of the AO 35 Committee,” he said.

“After all, kasama rin naman sila (they are also part of) sa AO 35 committee as an observer and we have encouraged them to take a more active participation in the work of the committee.”

Administrative Order 35 Task Force is the government’s inter-agency committee on extra-judicial killings, enforced disappearances, torture and other grave violations on the right to

BM

life liberty and security of persons.

Simultaneous police operations on March 7 resulted in nine deaths in Southern Tagalog. Six died in Rizal, two in Batangas, and one in Cavite in “search warrant operations.”

There were also six arrests made— three each in Laguna and Rizal. Nine remained at large—eight in Rizal and one in Batangas.

The simultaneous arrests, according to the Police Regional Office 4A, were armed with 24 search warrants for Violations of Republic Act 10591 (Comprehensive Firearms and Ammunition Regulation Act) and were carried out by the Calabarzon police, Criminal Investigation and Detection Group, and the Special Action Force and its military counterparts. PNA

A8 Tuesday, March 16, 2021

BusinessMirror

www.businessmirror.com.ph

News BusinessMirror

www.businessmirror.com.ph

Tuesday, March 16, 2021 A9

Abaca yield seen to dip further in ’21; ₧171-M rehab ongoing

T

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE country’s abaca output this year is seen to further decline from last year’s 7-year-low as the industry reels from devastation caused

by Typhoon Rolly (international name Goni), particularly in Catanduanes, the top producer of the natural fiber, the Philippine Fiber Industry Development Authority (PhilFida) said.

Nonetheless, PhilFida Executive Director Kennedy T. Costales told the BusinessMirror that they are implementing a P171-million rehabilitation and expansion program for the abaca industry this year.

“We are doing everything to rejuvenate the industry and in two years’ time we will return to the 70,000-MT production level or even exceed that volume,” he said.

Costales said PhilFida will implement an aggressive expansion of abaca plantation in the country this year using the P50-million fund reallocated by the Senate.

Documents obtained by the BusinessMirror showed that PhilFida plans to plant abaca on 1,100 hectares this year across 11 provinces.

Costales said they will put up abaca “plantations” in each of the identified provinces, with each plantation being contiguous and having an average size of 100 hectares.

Catanduanes is excluded from the P50-million expansion program of the PhilFida since it will have its own P121-million rehabilitation program.

Costales said the P121-million program for Catanduanes can rehabilitate about 8,000 hectares

in the province. PhilFida data obtained by BusinessMirror showed that abaca production in Bicol Region, the largest abaca producer in the country, declined by 17.89 percent to 219,46.2 MT from 26,728.1 MT recorded in 2019.

Abaca production in Catanduanes declined by about 15 percent to 18,003.4 MT from the 21,068.1 MT recorded in 2019, PhilFida data showed.

Costales said this could be the lowest abaca output of the province in its history since its production level never dropped below 20,000 MT annually.

Despite the decline in output, Catanduanes remained top producer of abaca as it accounted for almost 30 percent of the total output last year.

Costales said recovery of abaca production in Catanduanes will take about 18 months to 2 years.

Likewise, it may take about two years before nationwide abaca output recovers to the 70,000 MT level, he added. Costales said he expects abaca output this year to further decline due to the damage and losses sustained by Catanduanes last year.

The BusinessMirror earlier reported that movement restrictions imposed by the government to stop the spread of Covid-19, coupled with

the devastation caused by Rolly, pulled down the country’s 2020 abaca output to a 7-year low. (Related story: https://businessmirror.com. ph/2021/03/08/phl-abaca-outputfalls-to-7-year-low/) PhilFida data obtained and analyzed by the BusinessMirror showed that abaca production last year declined by 11.94 percent to 61,491.67 metric tons (MT) from the 69,828.8 MT recorded in 2019.

Historical PhilFida data, dating back to 1980, showed this is the lowest abaca output by the country since the 55,958 MT recorded in 2013.

Data also showed the nationwide production of the natural fiber was below 70,000 MT for the second consecutive year.

Costales said movement restrictions imposed last year amid the Covid-19 pandemic hampered the trade of abaca nationwide. This was made worse by Typhoon Rolly, which battered Catanduanes in November last year, as the province is the country’s top producer of abaca, Costales added.

“Catanduanes looked like it was hit by a nuclear bomb. I went to Bato, Catanduanes and the mountains are really brown, all abaca were uprooted,” Costales said.

CJ Peralta, days before retirement, seeks unity

C

HIEF Justice Diosdado Peralta on Monday urged Filipinos to unite to beat the current surge in the number of Covid-19 cases in the country.

In his message after leading the flag-raising ceremony at the Rizal Monument in Rizal Park, Manila, Peralta said national hero Jose Rizal, who gave up his life for his country, should serve as an inspiration for every Filipino during the pandemic.

“It’s been a year since we stopped our gathering for Monday’s flag-raising ceremony which signals the start of a week-long work. Despite this, I hope we continue to maintain the spirit of being a Filipino in thought, in word and in deed,” he said.

“Let us unite to succeed in our fight against this pandemic. Most of all, let us continue praying for healing and

recovery of country and the world,” Peralta added.

Also present at the flag ceremony were Justice Secretary Menardo Guevarra, Interior and Local Gover nment Of f icer-in- C ha rge and Undersecretary Bernardo Florece and National Parks Development Committee representative Cecille Romero.

Peralta said he was delighted to be invited to lead the flag raising, considering that his retirement is already near.

After spending 34 years in the judiciary, Peralta said the thought of his retirement has given him mixed emotions “Now that my retirement is already near after 34 year of serving our country, I am having mixed emotions; happy because I will have more time as a

husband and a father but at the same time sad because I would be leaving my career as a public servant and the Supreme Court which have been my home for 12 years,” Peralta said.

Peralta acknowledged that his term as Chief Justice was not easy, having to lead the judiciary at the time of the pandemic.

Still, Peralta said, the judiciary overcame the challenges and continues to perform its mandate to deliver justice to the people.

Last December 1, 2020, Peralta informed his fellow magistrates of his decision to avail himself of early retirement, but has yet to disclose his reason.

Only three of the most senior associate justices have accepted their automatic nomination for the CJ post, which will be left vacant on March 27.

They are Associate Justices Estela Perlas-Bernabe, Alexander G. Gesmundo, and Ramon Paul L. Hernando.

They have been interviewed by the Judicial and Bar Council (JBC), which is expected to submit its recommendation to the President before Peralta’s retirement.

Two other Associate Justices— Marvic Mario Victor F. Leonen and Alfredo Benjamin S. Caguioa, both appointees of former President Aquino to the SC—did not submit their requirement, prompting the JBC to rule out their inclusion in the shortlist.

Based on seniority, Perlas-Bernabe is the most senior among the candidates. She is set to retire on May 14, 2022.

Gesmundo, is set to retire on November 6, 2026; and Hernando, in August 2036. Joel R. San Juan

Germans ease language rules for PHL health workers

By Samuel P. Medenilla

M

@sam_medenilla

ORE German employers are now willing to ease language training requirements for Filipino health care workers (HCW) amid their high demand in Germany.

Philippine Labor Attaché to Germany Delmer Cruz said he was informed by some German placement agencies that some companies are willing to hire HCWs who only have

B1 or intermediate grasp of the German language.

“Then once they arrive here, they will undergo a crash program for two months so the could achieve a B2 level (upper intermediate). This is currently being studied,” Cruz said.

Currently, Filipino HCWs should have at least B2 level before they could be deployed to Germany either through a government-to-government arrangement under the Triple Win program and through recruitment agencies.

While Cruz noted there were some companies that had already proposed a relaxed language requirement before the Covid-19 crisis, more German employers have considered it during the pandemic.

For this year alone, he noted Germany is eyeing to hire at least 50,000 HCWs as it deals with the “third wave” of Covid-19 infections. Cruz said they are targeting to deploy 1,000 more workers under the Triple Win program and over 2,000 more from the private recruitment agencies.

Poor, mid-income states left behind in vaccine sourcing Continued from A12

The authors also urged governments to cooperate in terms of data sharing, mutual acceptance and recognition of manufacturing practices, drug registration, inspection and evaluation.

Further, logistics support and proper handling of vaccines is also crucial in ensuring that no country is left behind in terms of vaccination.

Unfortunately, the authors said, the World Health Organization (WHO) reported that over 50 percent of vaccines are wasted annually due to logistics and improper handling.

“Many developing countries in

Asia and the Pacific are not ready for the enormous logistical challenges to distribute Covid-19 vaccines rapidly and safely under the stringent temperature requirements,” the authors lamented.

1.1-M doses

Earlier, National Task Force (NTF) against Covid-19 Deputy Chief Implementer and testing czar Vivencio Dizon said the government will complete the distribution of the initial 1.1 million doses of Covid vaccines before the arrival of the second wave of vaccines.

He said over 60 percent of the 1.1

million doses were already deployed in designated areas for distribution, as the government prepares for the arrival of P1.4 million additional doses this month.

Of these doses, 600,000 are Covid-19 vaccines from Sinovac Biotech, Coronavac, donated by the Chinese government; and the remaining 525, 600 are AstraZeneca vaccine doses from the Covax facility.

An additional 400,000 doses of Coronavac vaccines are expected to arrive starting March 21, 2021. These will be donated by the Chinese government. Another million doses were purchased by the government.

He explained that recruitment agencies are rushing to deploy medical workers so they will still be covered by the 5,000 annual deployment cap imposed by the Philippine Overseas Employment Administration (POEA) for HCWs. The cap aims to ensure the country will have a reliable pool of HCWs for its own Covid-19 response.

Currently, Cruz said Germany is now requesting to be exempted from the deployment cap, like the United Kingdom.

ITB Berlin…

Continued from A12

Prior to the pandemic, tourist arrivals from Germany reached 103,756, up 12.7 percent in 2019.

Tourists from Germany accounted for 35 percent of the 298,470 total arrivals from Western Europe that year.

The Philippine delegation included: Amorita Resort, Banwa Private Island, Belmont Newport Luxury Hotels, Bluewater Resorts, Bohol Beach Club, Club Agutaya, Crimson Hotels and Resorts, Discovery Shores Boracay, El Nido Resorts, Marriott Hotel, Okada Manila, Shangri-la Boracay Resort, South Palms Resort, Travellers International Hotel Group Inc., Winford Hotel Manila, Annset Holidays, Inc., Baron Travel Corp., Blue Horizon Travel and Tours, CTPH Tour, Intas Destination Management Inc., Kapwa Travel and Tours, Rajah Tours Philippines Inc., Sharp Travel Services, Travel Experts Inc., and Travelite Travel and Tours.

A10 Tuesday, March 16, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

500 years ago

O

ur identity as a country and people goes beyond the words that are stamped on our passports. There are surely a lot of things that divide us, but many things can unite us as well.

Knowing our history can help our people understand what makes us a nation, what makes us truly and uniquely Filipino.

This year we are celebrating the 500th anniversary of Ferdinand Magellan’s expedition to the Philippines in 1521, as well as other notable events like the introduction of Christianity in the Philippines, the role of the country in the Magellan–Elcano circumnavigation, and Lapu-Lapu’s victory in the Battle of Mactan, which might very well be the very first Asian victory against European colonialism.

Perhaps what most Filipinos know about Magellan, Lapu-Lapu and the events of 1521 came from a song made popular by Yoyoy Villame in the 1970s, a true testament to the late legendary Filipino folk pop singer’s genius in using music for great storytelling.

Magellan’s voyage to the Philippines happened during the so-called Age of Discovery or Age of Exploration, when seafaring European nations explored regions across the globe, primarily led by the Portuguese and the Spanish.

Magellan was a Portuguese explorer and yet he led the Spanish expedition to the East Indies from 1519 until his death in the Philippines in 1521, a study in contradiction worth another article.

History books (like Yoyoy’s song) tell us that Magellan landed on our shores on March 16, 1521 or 500 years ago today. However, historian Xiao Chua, in his article When Our Ancestors “Discovered” Magellan, says March 16 actually marks the date when Magellan’s ships first caught sight of the Philippines from afar.

“Since their departure from Guam on March 9, 1521, Samar was the first significant landmass sighted by the expedition on the dawn of March 16, 1521,” he wrote, adding “the expedition proceeded to a place called Yunagan and Suluan, the latter an island under the jurisdiction of Guiuan, Eastern Samar.”

Chua says it was actually on the following day, March 17, 1521, that the expedition made its first landfall at Homonhon, also an island now under the jurisdiction of Guiuan.

But beyond the dates, names and places there are other more important lessons to learn from the events of 1521.

Chua wrote vividly of how the first Filipinos who received the Spaniards showed them compassion. After seeing that Magellan’s crew was starving, the Spaniards were welcomed and fed. Even though they could not understand the foreigners, the humanity in our ancestors prevailed, he said, noting this magnanimity showed by our ancestors inspired Magellan to be hopeful of the locals around and helped the unprecedented achievement of circumnavigating the world for the first time.

He said the Filipinos’ kindness is illustrated throughout history: Filipino revolutionaries fed and patiently waited for almost a year, from 1898 to 1899, for the surrender of the last Spanish soldiers in the Philippines who sought refuge inside the Baler Church in Aurora; Filipinos welcomed Jewish refugees during World War II when no other country was willing to shelter them; Filipinos accepted the White Russians who were expelled from China by the communists in 1949.

Filipinos are innately compassionate and magnanimous people, Chua said, “to the extent we cheer for other countries like Timor-Leste during the 30th Southeast Asian Games.”

There may be many sordid parts of our past, but Chua is right, there are also many more episodes in our history we can be proud of.

Just like our ancestors, Filipinos today are naturally hospitable, gracious and generous hosts. We are able to set aside personal biases, even against foreigners and strangers, in favor of goodwill. And, no surprise, we always know how to feed our guests and share our food, no matter if it’s a banquet or a scant meal, to the point that “kumain ka na?” or “kain tayo” has become synonymous with our hello.

During this time of negativity and anxiety, these are truly Filipino traits we certainly need to celebrate, emulate and propagate.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua

Job restoration is our priority Manny B. Villar

THE Entrepreneur

J

obs are synonymous with economic activities. The number of jobs available in the labor market usually determines the performance of an economy.

A family needs at least one member with an income-generating job to provide for the needs of everyone, otherwise the household will be driven to poverty, if not starvation.

The Philippines has a large labor force, with over 41 million adult Filipinos considered employed as of January 2021. Millions of Filipinos were also working overseas and sent nearly $30 billion to their families in the country last year, helping augment household finances amid Covid-19.

But the pandemic has decimated millions of jobs across the whole economy, based on data from the Philippine Statistics Authority. For example, millions of bus, jeepney and tricycle drivers were forced out of work in April when mobility restrictions were imposed under the enhanced community quarantine.

The land transport sector contracted 30.7 percent in 2020, or more than three times worse than the 9.5-percent slump in the gross domestic product.

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Other heavily-affected segments of the economy are airlines, tourism destinations, shipping, hotel and restaurants, manufacturing, construction, education, retail trade, real estate, sports and leisure.

Overall, the ranks of the unemployed swelled to 3.93 million, or 8.7 percent of the labor force in January 2021, from just 2.38 million or 5.3 percent in January 2020, just before the pandemic hit the country.

Results of the January 2021 La-

The perfect stock market computer

Founder Publisher

We need to ensure that job restoration will be sustained in the coming months to save millions of families from poverty and starvation. While resorting to another lockdown seems to be an easy fix to contain the spread of the virus in the wake of reports that the new variants of Covid-19 are already in the country, it will defeat our efforts to restore jobs and revive the economy.

T

here is so much easily available information that almost anyone can become somewhat of an expert about the financial markets. Being a winner is a little bit harder.

Everyone knows that the stock market is all about the health of the economy and that investors are always on the search for “catalysts.”

These supposedly include economic data, government policies, and factors like the number of Covid cases.

To a certain extent, that might be accurate but only as it influences— or does not influence—confidence in the future.

The reality, though, is that the stock market is a game of trying to figure out what issue the next guy is going to buy so that you can buy first. We really care nothing about the catalysts except to the extent that they might get everyone else to buy a particular stock right after we did at a lower price.

Crypto currencies run on the

“greater fool theory,” which to a certain extent the stock market does also. Don’t misunderstand me. There is nothing more with that. I want Bitcoin at $200k. More “fools” gave us million-dollar NBA trading cards, the $100,000 Air Jordan 12 OVO, Drake edition, and Pokémon.

The asset markets are a game.

Chess is not a game. How do I know?

The Ruslan Ponomariov vs Fritzthe-Computer game on November 21, 2005 is the last known win by a human against a top-performing computer under normal chess tournament conditions. Computers are number crunchers. Fritz can look at 8 million positions per second, searching to an average depth of 17 to 18 plies (moves ahead). A good human can think of about 100,000 positions

The reality, though, is that the stock market is a game of trying to figure out what issue the next guy is going to buy so that you can buy first. We really care nothing about the catalysts except to the extent that they might get everyone else to buy a particular stock right after we did at a lower price.

with 10 plies or moves ahead.

Chess computers are not any smarter, but they do have immensely more number crunching “brain power” and can react faster and deeper to human moves. A “game” is a contest where different strategies come into play, not simply being able to think ahead of all the possibilities.

There has never been a “stock market” computer that can project all the possible moves of several hundred thousand crazy traders. But human investors and traders do that all the time.

The stock market is often compared to playing poker. There is now a “poker computer” called Pluribus.

“Pluribus achieved superhuman performance at multi-player poker, which is a recognized milestone in artificial intelligence and in game the-

bor Force Survey, however, show the number of jobless Filipinos has gradually eased on a quarterly basis from as high as 7.2 million (17.6 percent) in April 2020 at the height of the lockdown to 4.58 million (10 percent) in July 2020, 3.8 million (8.7 percent) in October 2020 and 3.93 million (8.7 percent) in January 2021.

Obviously, the reopening of various economic sectors and the increased capacity of business establishments have led to the restoration of thousands of jobs since April 2020.

The LFS data show that between October 2020 and January 2021, about 1.4 million jobs were restored, as the labor force participation rate improved from 58.7 percent to 60.5 percent. In Metro Manila alone, some 269,000 jobs were restored during the period as the economy further reopened.

Economic managers welcomed the latest LFS data, saying the country is gradually winning back the jobs See “Villar,” A11

ory that has been open for decades.”

Pluribus played against six of the top poker champions in the world and won. However, that was like the Reddit boys and girls going against the hedge funds on GameStop. In poker “donk betting” is ending one round with a call—just matching another’s bet—but then starting the next round with a new bet. No one in their right mind—at least according to the champions—would ever play like that. Pluribus did frequently and the “champions” did not know what to do. All the poker experts play basically the same general strategies just like the stock market hedge funds.

It would be very interesting to see Pluribus play in a tournament, starting at the bottom against players wearing secret Aztec poker amulets and whispering ancient incantations.

Let’s face it. That is what stock market traders do every day.

Perhaps the biggest problem of new and experienced stock market players is overthinking the situation.

The computer for the stock market game will never get it totally figured out. Neither will we.

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.

www.businessmirror.com.ph

Opinion

‘I’m not like other girls’

A tale of two Cuomos

BusinessMirror

Manny F. Dooc

Lyca Balita

TELLTALES

Onwards

M

arch is Women’s History Month, when we mostly celebrate norm-shattering women who have broken records and changed the world. In the long list of these women, we have scientists, athletes, artists, entrepreneurs, politicians, and mathematicians, among others. They have made history, so of course we talk about them in Women’s “History” Month. But it is important to remember that this month celebrates not only these women whose names are in lists, books, and museums. This month is about you and me and the women in our lives, too.

Who was the first woman you’ve ever loved?

The first name that comes to mind might be a mother figure, lover, family, friend, or a complete stranger. Whoever she is, she changed your life somehow, didn’t she? Even if she may no longer be around or things didn’t end on a great note, once upon a time she was important to you. She remains part of your history. Whatever her name is, this month, we celebrate her, too.

Who come to mind when you read or hear the words “mama”, “ate,” “sis,” “ninang,” “manang”? Who are your favorite women right now? Who are the random ladies who, despite being strangers, were so kind to you even if you may not have deserved it at that time? This month, we celebrate all of them.

To the female readers, you deserve to be celebrated, too. You are someone’s daughter, friend, first love, lover, or you might be that kind stranger who restored someone’s faith in humanity. You’ve made history, one way or another. You are someone, you’ve made someone smile, and you’re part of someone’s history. That’s something to celebrate.

To the men, celebrate all the women in your life. Your efforts in protecting and supporting women are recognized and appreciated.

Help remind others that women do not have to be family, lovers, superiors, or extraordinary strangers to deserve kindness and respect. They simply have to be human, and that should be enough.

Of course, we shouldn’t stop discussions on world-changing women. These conversations are inspiring and paradigm-shifting especially to the youth. They emphasize that what was supposedly “impossible” was really just discouraged by most. Women have changed the world; it’s an important conversation. But to remember that we, as ordinary women, deserve recognition, too, makes March more empowering.

This month, it’s time we begin embracing womanhood, and stop the fruitless act of pitting women against each other. “I’m not like other girls,” said in a confusing tone of pride implies that there is something

wrong with other girls. Why would you be proud of not being like most women, when women have shaped history? Screw that—start saying “I’m like other girls”: intelligent, determined, empathetic, important, and life-changing. Individuality does not have to come at the expense of your community.

A woman can enjoy makeup, “chick” media, and bright colors, and still be a force to be reckoned with—these were never mutually exclusive. A woman can have short hair, be covered in tattoos, and wear suits, and still be the kindest and most intelligent woman you’ve ever met, who deserves the same respect given to more “feminine” women. Also, never underestimate the wits and creativity of young girls, and the intimidating wisdom and strength of older women. The point is this: women are not one another’s competition—it’s time we lift each other up.

Let’s celebrate all kinds of women this March— t he mothers, daughters, sisters, grandparents, and aunts; the mentors, educators, providers, and caretakers; the loud, quiet, unapologetic, and gentle. And in this pandemic, we especially celebrate the female frontliners, researchers, policymakers, and the women who make the sacrifice of staying at home in the hopes of helping stop the spread of the virus. All this, regardless of status, biology, sexuality, appearance, and whatever prejudices held against women because of some characteristics.

We don’t have to be worldchanging to deserve celebration and recog nition this month.

There’s no need to discover a new element, solve an impossible scientific problem, or be the first female anything. We just have to be here, keep going, and keep changing lives through our work, words, and love. We’ve always made history.

Let’s celebrate that this month, and keep that in mind the rest of the year. There was never anything wrong with being like most girls, when girls have shaped and made history.

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

T

he current governor of New York, Andrew Cuomo, is the eldest son of Mario Cuomo, the 52nd governor of the state. Andrew, until recently, was a stalwart of the Democratic Party and a three-termer governor of New York. The elder Cuomo was known for his liberal and progressive views. Mario was a gifted public speaker and his stirring discourses had been hailed for their depth and craftsmanship. One of his widely acclaimed speeches was his keynote address at the 1984 Democratic National Convention where he attacked President Ronald Reagan who was then running for reelection. Reagan was fond of glowingly describing Washington, the country’s capital and seat of the federal government, as “the shining city on the hill.” The elder Cuomo corrected the president by saying: “Mr. President, you ought to know that the nation is more a “Tale of Two Cities” than it is just a “Shining City on the Hill”… There is despair. Mr. President, in the faces that you don’t see, in the places that you don’t visit, in your shining city.”

Mario, at the height of his power and popularity, was considered the frontrunner for the Democratic nomination for president in 1988 and 1992, but he declined to seek the office on both occasions. In his absence, Michael Dukakis won the primary contest but he lost to the Republican presidential candidate, George H. W. Bush. Again in 1992 despite the roaring clamor of his partymates, Mario refused to participate in the nomination process.

Instead a little known governor of a small state, Arkansas, named Bill Clinton aggressively sought the nomination and eventually trounced the incumbent, George H. W. Bush. It was said that Mario, just like the famous character in one of Shakespeare’s plays, spent a soliloquy analyzing whether to make a run for the presidency or not. His monumental reluctance to make a bid for the highest office earned him the moniker, “Hamlet on the Hudson.” To be, or not to be a presidential candidate consumed him and his indecision cost him his office in Albany when the Republi-

Villar. . .

Continued from A10

lost to the pandemic. The National Economic and Development Authority, though, noted that the smaller progress in the past quarter suggested the need to address remaining restrictions before the economy can get closer to normal.

We need to ensure that job restoration will be sustained in the coming months to save millions of families from poverty and starvation. While resorting to another lockdown seems to be an easy fix to contain the spread of the virus in the wake of reports that the new variants of Covid-19 are already in the country, it will defeat our efforts to restore jobs and revive the economy.

There is a better solution than

Atty. Rodel C. Unciano

Tax Law for Business

A

S of this writing, the CREATE bill or the Corporate Recovery and Tax Incentives for Enterprises Act is yet to be signed by the President. We have barely a month before the April 15 deadline for filing of Annual Income Tax Return (ITR) for most taxpayers, but affected taxpayers could not as yet finalize their tax calculations as the signing of the CREATE bill into law is certainly a factor that will largely impact on the final determination of their income tax due for the year 2020.

Will CREATE bill be able to pave its way to the April 15 deadline? Will the President exercise its power to veto the bill? How will it be implemented?

The enrolled bill was presented to the President on February 24,

2021 for approval. Under the Constitution, the President is given 30 days from receipt of the bill within which to approve or veto the same.

If he approves the same, he shall sign it. Otherwise, he shall veto it and return the same with his objec-

tions to the House. The President shall communicate his veto to the House within 30 days after the date of receipt thereof, otherwise, the bill shall become a law as if he had signed it. So therefore, if the President does not veto or approve the bill into law within the 30-day period provided under the Constitution, the bill will lapse into law

by March 26, 2021.

The quest for the Holy Grail by the Cuomos in US politics has suffered another debacle. But you cannot write finis to the Cuomos in New York and US politics. It is a powerful political dynasty that may yet produce an heir destined to occupy the White House in the future.

cans swept the 1994 midterm elections. A little known rival, George Pataki, defeated Mario for a fourth term as governor, sending him to retirement from politics. Mario possessed the credentials to serve as president of his country. He was a top student graduating summa cum laude when he finished his bachelor’s degree in St. John University and graduated first in his law class from the same school. As a lawyer, he defended and represented poor New Yorkers who were being displaced from their homes.

He served as Lieutenant Governor and Secretary of State of New York prior to his election as its governor.

TV anchor Neal Conan described Mario as “both the most intelligent and wittiest politician he has ever interviewed.” When he died, his political rival who unseated him as governor, Governor Pataki, said of Mario: “He was a proud son of immigrants and a compassionate leader who possessed a soaring intellect.” And Tony Bennet, the famous singer, extolled Mario by saying: “Listening to Mario

Cuomo was always an exceptional experience. He had the rare ability to communicate with any audience he was speaking to because of his enormous capacity for compassion and understanding of humanity.”

Indisputably, the younger Cuomo has basked on the glory and popularity of his father. Moreover, Andrew was married to Kerry Kennedy in 1990 but they divorced in 2005 before he formally ran for public office. Kerry is the daughter of the late Robert Kennedy who had served as a senator of New York.

The couple had three daughters who are all successful in their careers.

President Bill Clinton appointed Andrew as the Secretary of Housing and Urban Development. In 2006, he was elected Attorney General of New York. Four years later, he won the gubernatorial election to become the 56th governor of the state. He has been reelected twice and is up for another reelection next year. His magnificent handling of the pandemic has captured the nation’s imagination. His daily coronavirus briefings last year have provided much needed assurance not only to the New Yorkers but also to the entire country that the government is in control of the situation. While the country was headed by a bumbling president, Andrew was the voice of calm and reason. He has given the country decisive leadership during the time of crisis. But the narrative has drastically changed at the beginning of this year. On January 28, 2021, the NY Attorney General, Letitia James revealed that the Cuomo administration undercounted

locking down the economy. A calibrated, targeted approach is needed and requires the participation of everyone in observing health protocols that proved effective in curbing the spread of the disease in previous months. These protocols include social distancing, wearing face masks and face shields, disinfecting hightouch surfaces and regular hand washing.

Business establishments have been following the guidelines released by the Department of Health and observing the minimum public health and safety standards, and protocols in the workplace.

Meanwhile, local government units have a crucial role to play, as they are the ones that will enforce the health protocols at the barangay level and actively report new virus cases.

Contact tracing and localized quar-

antines are critical in the successful containment of the virus infection.

A stricter monitoring of Covid cases will enable the national government to focus on the vaccination program in line with its goal to inoculate 70 million Filipinos, or 100 percent of all adults in the country, to achieve herd immunity by 2022 or early 2023.

I agree with the government economic managers that a calibrated, more targeted approach is needed to reduce the virus spread without affecting the healthy majority who are in need of jobs to address hunger and other health concerns.

If we manage to bring back more jobs this year by safely reopening the economy further, we may achieve the government’s GDP growth target range of 6.5 percent to 7.5 percent.

The strategy will involve increas-

Can CREATE pave its way to April 15 ITR filing?

Given the timeline, it would be a good measure to extend the April 15 deadline for ITR filing, at least for corporate taxpayers, to give them more time to adapt to the new rules. This will likewise give more time for the BIR and the Secretary of Finance to promulgate the implementing rules and regulations necessary for the effective implementation of the Act.

Tuesday, March 16, 2021 A11

And once the CREATE bill becomes a law either by approval of the President or by his failure to act on it within the 30-day period, we will have to wait for another 15 days after its complete publication in the Official Gazette or in a newspaper of general circulation before it finally becomes effective.

And it is only upon its effectivity that the Secretary of Finance can promulgate the necessary rules and regulations for its effective implementation.

Given the timeline, it would be a good measure to extend the April 15 deadline for ITR filing, at least for corporate taxpayers, to give them more time to adapt to the new rules. This will likewise give more time for the BIR and the Secretary of Finance to promulgate the implementing rules and regulations necessary for the effective implementation of the Act. Once passed into law, CREATE

will reshape corporate income taxation in the country beginning with the reduction of corporate income tax effective July 1, 2020, from the current 30 percent to 25 percent and to the lower corporate income tax of 20 percent for domestic corporations with total assets not exceeding P100 million, excluding land, and total net taxable income of not more than P5 million. Also, for a period of three years from July 1, 2020 until June 30, 2023, the Minimum Corporate Income Tax will be lowered to 1 percent from the current rate of 2 percent.

Also, proprietary educational institutions and hospitals which are nonprofit will pay a corporate income tax rate of 1 percent instead of the current rate of 10 percent effective July 1, 2021 to June 30, 2023. Small businesses, with sales under P3 million will pay 1 percent of gross sales instead of 3 percent

coronavirus-related deaths at the state’s nursing homes by as much as 50 percent. Andrew’s office has explained that the Cuomo administration has intentionally delayed the reporting of data for fear that it would trigger a potential federal investigation by the DOJ, which would give political advantage to opponents. This was followed by more explosive claims of sexual harassment allegations mostly from his young female subordinates who had worked under him in the past.

As of the latest count, a total of 7 women have accused Andrew of inappropriate touching, hugging or kissing or for unethical conduct.

Despite his denial, more and more influential people, including those from his own party like NY Senators Chuck Schumer and Kirsten Gillibrand have asked him to resign. Cuomo the younger’s political star has dipped before it could gain traction for a possible run for the presidency. Even his most ardent supporters would not dare touch him with a 10-foot pole to endorse him to a higher office. It seems that the Cuomos are ill-fated for the US presidency.

The quest for the Holy Grail by the Cuomos in US politics has suffered another debacle. But you cannot write finis to the Cuomos in New York and US politics. It is a powerful political dynasty that may yet produce an heir destined to occupy the White House in the future.

A member of the family will take on the challenge particularly when the government falters. However, they should learn their lessons from the past—no more ambivalence or indiscretion. The anointed one should possess a moral compass and untainted by any scandal or corruption. Furthermore, he or she should be as resolute as Ted Kennedy when he challenged President Jimmy Carter, who said: “Our leaders have resigned themselves to defeat. This country is not prepared to sound retreat. It is ready to advance. It is willing to make a stand. And so am I.” ing the capacity of businesses and public transportation, relaxation of age group restrictions and allowing more establishments to operate, such as schools, sports stadiums and cinemas, as long as we follow the protocols with strict discipline.

The full economic reopening will spur business confidence. More foreign and local companies are interested to resume investment plans in the Philippines that will generate more jobs. Hopefully, the vaccination program will proceed faster to the extent that it will reduce the number of active cases, like what is happening in Israel, and provide us with greater confidence to restore jobs and achieve a strong recovery this year.

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

from July 1, 2021 to June 30, 2023.

Registered enterprises that fully relocate outside Metro Manila will be entitled to an additional three years of income tax holiday while registered enterprises that locate in areas recovering from disasters or conflict will be entitled to an additional two years of ITH. There are several other changes introduced in CREATE that are more worthy of discussion once it is signed into law.

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

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

A12 Tuesday, March 16, 2021

ITB BERLIN HAS FEWER BUYERS, BUT PROVIDES LEADS FOR PHL TRAVEL

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

T

HE Philippines continues to maintain the interest of foreign tourists amid their impatience for the lifting of international border restrictions here.

“We noticed that people want to travel,” said Gregor Zajc, general manager of Blue Horizons Travel & Tours Inc., which participated in last week’s virtual ITB Berlin. “We often received a request to notify the customers once the borders are open and they will come. This sends a very positive sign that we have not been forgotten and that the Philippines still is on the list of world travelers,” he added, after meeting with several repeat buyers.

Overall, there were fewer buyers this year perhaps because of the virtual nature of the travel trade show, reputed to be the largest in the world. This year, only 65,000 buyers attended the event compared to 160,000 in 2019. (ITB Berlin was cancelled last year because of the pandemic.)

Thus, less engagements were already expected as in previous trade shows held under the pandemic, according to Joey Bernardino, group director of sales and marketing of El Nido Resorts.

At ITB, he said, “The companies that joined were mixed; we had some new inquiries and a number of existing partners.

The existing partners had bookings that they are also trying to keep so they are happy with our flexible booking conditions.”

Waiting for borders to reopen

Despite the reduced number of engage-ments expected, the Philippine delegation consisted of 15 hotels and resorts from all over the country, and 10 travel agencies/destination management companies.

According to the participants, most of the buyers’ questions centered on when the country’s borders would reopen. “They would of course understand it when we explained that this is difficult to

pinpoint as the situation is still developing globally,” said Margarita Patricia R. Valdes, Philippines Tourism Attache for Frankfurt, Germany.

She said,“Foreign tour operators were very interested to know about the specific policies and protocols that each company and property have put in place to adapt to the changes in the markets (e.g. flexible booking conditions, safety protocols, new efforts on sustainability, etc.). Buyers have also expressed that they expect their clients to travel to the Philippines again once restrictions are lifted.”

As such,“The Philippines’continued participation at the ITB signaled to the world that our tourism industry is ready for international tourists as soon as conditions allow it.”

Zajc said most of Blue Horizons’ repeat customers already know the Philippines and what they want to do, although they received inquiries from new agents as well.

“All of them are looking for tropical beaches and the activities one can do aside. We basically sell the whole Philippines with main tourist destinations such as Boracay, Bohol, Cebu, Palawan, Siargao, etc.

As Europeans tend to spend a longer period of time in the Philippines, on average two weeks, we propose a combination of tours and beach holiday.” This includes sightseeing in Manila and a trip to Banaue Rice Terraces before flying off to beaches.

Key selling points This year, he said, “Clients are looking for destinations which follow health and safety protocols. But we also noticed that they are looking for destinations with less people, hence smaller islands or smaller island resorts.”

Valdes said the Tourism Promotions Board, the marketing arm of the Department of Tourism (DOT), and DOT-Frankfurt had 75 meetings with media and travel trade companies during ITB, “with more follow-on meetings scheduled this week, which is an indication of the international travel community’s continued interest in the Philippines.”

PHL, UK ink MOU on Asean reform, low-carbon program

T

By Bernadette D. Nicolas

@BNicolasBM

HE Philippines signed on Monday a Memorandum of Understanding (MOU) for the country’s participation in the United Kingdom (UK)-CrossGovernment Prosperity Fund for the Asean Economic Reform Programme and the Asean Low Carbon Energy Programme.

Finance Secretary Carlos G. Dominguez inked the agreement on behalf of the Philippine government while UK Ambassador to the Philippines Daniel Pruce signed for the British government.

The signing of the MOU comes as the Philippines and the UK mark 75 years of bilateral relations this year.

Under the Prosperity Fund, a total of £19 million (approximately P1.3 billion), will be shared among six Asean countries (Philippines, Myanmar, Indonesia, Malaysia, Thailand and Vietnam) for the Asean Economic Reform Programme; while £15 million (about P1 billion) will be shared among the Philippines and the five other Asean country-recipients for the Asean Low Carbon Energy Programme.

The Asean Economic Reform

Programme seeks to develop countries’ capital markets, encourage improvement in their accounting standards; and expand the use of financial technology.

On the other hand, the Asean Low Carbon Energy Programme aims to support inclusive growth and poverty reduction through green finance and energy efficiency projects.

Timely support—Dominguez

In his speech, Dominguez thanked the British government for including the Philippines as one of the recipients of the Prosperity Fund in the Asean region, saying this will help the country recover from the Covid-19 pandemic and thrive in the emerging new economy.

Dominguez said the Philippines’s share in the Prosperity Fund for Asean Economic Reform

Programme will help improve the country’s business environment to aid its return to the path of inclusive and sustainable growth.

“Strengthening our capital markets will help reduce the cost of doing business, and broaden financial inclusion among Filipinos to provide us a solid foundation for international companies to invest and operate in the Philippines. Increased investments would mean more funds to support higher levels of long-term investments and sustainable quality job creation,” he said.

Moreover, Dominguez said the fund will also help the country adapt quickly to the boom of digital technology through the establishment of an industr y fintech sandbox.

“Filipino startups will be encouraged to come up with innovative financial products and co-create solutions to society’s most pressing issues. Doing this would support the government’s goal of creating globally competitive industries and building more technology empowered and Filipino-made companies,” he said.

As for the Philippines’s share in the Prosperity Fund for Asean Low Carbon Energy Programme, Dominguez said this will help the country facilitate green finance and energy efficiency, which is in line with the government’s efforts to adopt climate resilience and adaptation strategies.

“As the lead agency for the implementation of this Memorandum of Understanding for the Prosperity Fund, the Department of Finance

commits to a productive collaboration with partner agencies to complete the program by March 31, 2022,” he said.

Clear vision—Pruce

For his part, Pruce said in his speech that the signing of the MOU brings back the two countries together in a bid to “build back stronger, to build back smarter and to build back greener.”

He said the United Kingdom stands ready to share its best practices and provide policy support and capacity building as a leader in global financial services.

“Our vision is clear. And I think it’s a common vision, we want to see a robust financial sector which will help sustain our economists, then we will take forward financial inclusion through policies that enable access to the unserved and underserved members of society,” he said.

“We want to see well-functioning financial markets to create potential capital for climate action and other emerging needs.

And underpinning these aspirations we want to see a regulatory framework that propels economic recovery and supports long term growth, and which is resilient in times of crisis,” he added.

Aside from Dominguez, other Philippine government officials who attended the virtual MOU signing ceremony are Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, Securities and Exchange Commission Chairman Emilio Aquino and Insurance Commissioner Dennis Funa.

See “ITB Berlin,” A9

.5-M Pinoy workers in Saudi not covered

by Kafala abolition

By Recto Mercene

H

@rectomercene

ALF a million Filipino workers in Saudi Arabia are not covered by the abolition of the Kafala, a system that ties workers to their employers or sponsors.

The abolition of the Kafala syatem was implemented by the Saudi Ministry of Human Resources and Social Development on March 14, 2021.

According to recruitment consultant and migration expert Emmanuel Geslani, Overseas Filipino Workers (OFW) who are classified as Household Service Workers (HSW) are not covered by the liberating measures accorded to skilled workers.

He said domestic workers—including HSWs, drivers, gardeners and other categories under the classification of the POEA —are vulnerable to abuse and mistreatment by their sponsors in the households of these employers.

The Philippines has urged Middle East countries of Saudi Arabia

and Kuwait to include Filipino domestic workers and HSW in the abolition of Kafala scheme.

In Saudi Arabia alone, an estimated 500,000 are Filipino domestic workers; while in Kuwait, over 250,000 Filipinos are classified as domestic workers within Kuwaiti households.

Under the Kafala system, domestic workers cannot change employers or leave the country despite the termination of their contract unless an “exit visa” is given by their sponsor.

However, Geslani said this has been abused by Arab sponsors who refused to issue the exit visas unless payment is made by our embassy for up to $5,000 for each HSW. This amount is applied in cases where the OFW has asked the Philippine embassy for help to adjudicate her case with her sponsor.

Only skilled workers are allowed the liberty offered by Kafala, under the new system.

They can change employers or leave Saudi Arabia without the need of an exit visa from their employer.

PNP NCR Maritime Group Head Lt. Col. Raynold A. Rosero scans the Manila Bay horizon, part of their jurisdiction as they carry out a mandate to protect the waters from environmental crimes by visiting cargo vessels and transport ships berthed at the bay facing Manila and Navotas. They are also tracking illegal fishing and other related crimes inside the Navotas fish port, the biggest in the country. BERNARD TESTA

Poor, mid-income states left behind in vaccine sourcing

By Cai U. Ordinario

P

@caiordinario

OOR and middle income countries are being left behind when it comes to vaccine procurement and distribution, according to the Asian Development Bank (ADB).

In an Asian Development Blog, ADB Economic Research and Regional Cooperation Department’s Cyn-Young Park, Kijin Kim and Matthias Helble said rich countries, meanwhile, have ordered nearly double the vaccines they

need at 196 percent.

The authors said even if the Vaccines Global Access (Covax) facility of the Global Alliance for Vaccines and Immunization (GAVI) facility is able to roll out at least 2 billion doses of Covid-19 vaccines globally by the end of 2021, many economies may still not be able to reach herd immunity.

“Expansion of vaccination coverage continues to be challenged by a funding gap, risks of delays in deployment due to varying country readiness in addition to short-term supply shortages,” the

authors said.

This, the ADB economists said, is the reason for the Manila-based multilateral development bank’s Asia Pacific Vaccine Access Facility (APVAX).

The $9-billion facility launched in December aims to assist Developing Member Countries (DMCs) with vaccine procurement and distribution.

The Philippines became the first country to receive funding from the APVAX. The ADB extended a $400-million loan to the national government under the facility.

Apar t f rom f und ing , the economists said governments should work together to achieve regional cooperation such as the one needed for pharmaceutical regulation.

“Economic reopening and recovery crucially depend on the success of vaccination programs by substantially lowering the risk of new outbreaks. The gains extend far beyond economic sectors as it can also put an end to disruptions in education and health systems,” the authors said.

Continued on A9

www.businessmirror.com.ph

Companies BusinessMirror

Tuesday, March 16, 2021

B1

SMPC allots ₧4B for capital spending program this year

By Lenie Lectura

C

@llectura

onsunji-led Semirara Mining and Power Corp. (SMPC) is setting aside P4 billion for its capital expenditure (capex) program this year after it deferred last year’s capex due to the impact of the Covid-19 pandemic on its business.

Of the P4 billion, SMPC will utilize P2.9 billion to purchase mining and support equipment for the coal business. The rest will be split between Sem-Calaca Power Corp. and Southwest Luzon Power Generation Corp. for their preventive and maintenance programs.

SMPC earmarked a capex of P3.7-billion for 2020 but later on decided not to push through

with its capex program as the year presented a more challenging business environment because of historically lower coal and energy prices.

“2020 was a tough year for us because our coal and power businesses were hit by pandemic-induced market weakness. We are determined to stage a recovery this year,” said SMPC President and

COO Maria Cristina C. Gotianun.

SMPC also deferred last year the hiring for non-core positions, reduce non-essential business expenses and dispose of non-core assets as part of its cash preservation measures. Implementing these measures allowed the company to preserve and generate cash.

“However, the magnitude of our recovery will largely depend on how demand and prices will behave following the vaccination rollout, Covid-19 infection rates and loosening of quarantine restrictions,” she said.

To support its recovery plan, SMPC is targeting to produce 13 million metric tons (MMT) of coal this year, roughly equal to its actual production volume in 2020 because of ongoing remedial measures in Molave North Block 7 (NB7).

In December 2020, the company voluntarily deferred mining activities in the said area to allow

its technical consultants and mining personnel to implement remedial measures to manage the water build-up in the sump of NB7.

SMPC reported in August last year that it posted a 61-percent drop in earnings in the first half of 2020 due to the decline in coal and power prices.

From P5.7 billion, SMPC’s net income fell to P2.2 billion at endJune, of which P1 billion was recorded in the second quarter.

Earnings contribution from the coal business fell 59 percent to P1.8 billion due to weak coal sales and average selling price.

From January to June last year, coal sales contracted 27 percent from 7.9 million metric tons (MMT) to 5.7 MMT, while average selling price per MT fell 21 percent from P2,229 to P1,765.

The government-imposed lockdown dragged down coal demand and average selling price, the company said.

Bulacan govt backs SMC airport project

This BusinessMirror file photo shows an artist's sketch of how the New Manila International Airport in Bulacan will look like.

By Lorenz S. Marasigan @lorenzmarasigan

Megawide reallocates NAIA rehab fund T

By VG Cabuag @villygc

M

egawide Construction Corp. on Monday said it has reallocated initial funding intended for the rehabilitation of the Ninoy Aquino International Airport (NAIA) to the development of land ports across the country.

In a disclosure, the company said the P1.2-billion initial allotment for the supposed P109-billion total budget to improve the infrastructure of NAIA, which previous to the pandemic has been accepting more people than its capacity, will be reallocated instead to the Parañaque Integrated Terminal Exchange lot 2 development and development of landport in Cebu.

The said fund was part of the P4.4-billion issuance of series 2 preferred shares it conducted last year.

Megawide and its Indian partner, GMR Infrastructure Ltd., failed to bag their bid to rehabilitate NAIA after regulator Manila International Airport Authority revoked its original proponent status to carry out a priority project of the government.

Megawide initially had the priority status after the so-called super consortium, composed of 7 of the country’s largest conglomerates, decided to back out on the deal in July last year and said the government turned down most of its rehabilitation options, leaving the company with no choice but to walk away from the deal.

“Our proof of concept and actual operational track record for the PITX landport has led to new expansion opportunities,” Edgar Saavedra, Megawide chairman and CEO, said.

“Activities over the last six

months in this space have been very encouraging and the company has been in advanced discussions with representative parties in several areas identified as potential landport locations. We are hopeful that these will be finalized before the end of the year to scale up our company’s existing transport-oriented development infrastructure.”

For the Cebu Integrated Transport Hub Project, the company has signed a joint venture agreement with the Cebu City on January 12 for a 50-year concession to redevelop and operate the Carbon Market. As such, the project will require pre-development and logistical expenses in line with its five-year development timetable, which aims to further accelerate economic growth and development in Cebu.

Megawide is also increasing the capacity of its ancillary business

units under its engineering, procurement and construction (EPC) platform to complement is pre-cast technology.

The company believes that the government’s rollout of major infrastructure projects, like the MalolosClark Railway Project, the NorthSouth Commuter Rail Project-South Line and the Subway System Project, opened up opportunities and will be the driving force for its infrastructure pivot.

“In addition to the company’s EPC business unit, these projects will likewise require huge support from its precast business unit and other ancillary services, which include the batching plant, modern formworks, specialized equipment and transport logistics, among others, to leverage on the company’s verticallyintegrated construction advantage,” Saavedra said.

SEC online 80-year-old PAL commits to stay aloft submission tool goes live

By Recto L. Mercene @rectomercene

T

he Securities and Exchange Commission (SEC) on Monday launched its online submission tool (OST) where the public can submit their annual financial statements, general information sheet and other annual reports.

Corporations and their authorized filers may already enroll in the SEC’s system and submit the documents.

The system was developed by Comclark Network and Technology Corp., PhilCox, Inc. and Varco Technosolution.

“Beyond making it easier and more convenient for corporations to comply with their reportorial requirements, the OST should help our stakeholders become more comfortable with digital-based transactions, as we harness the full advantages of new technologies in improving our services,” SEC Chairman Emilio B. Aquino said.

“This initiative is a key component of the commission’s ongoing digital transformation, bringing us even closer to the achievement of both our ease-of-doing-business and sustainability goals.”

To start using the OST, the corporation and its authorized filer must first enroll at https://cifss-ost. sec.gov.ph by accomplishing an online form and submitting the required documents.

The documents required for enrollment include a board resolution authorizing its representative to file reports on behalf of the corporation, as well as a copy of their submission of email addresses and cellular phone numbers or their accomplished GIS using the 2020 version of the form, as required by SEC Memorandum Circular No. 28, Series of 2020. VG Cabuag

P

ioneering carrier Philippine Airlines (PAL), which celebrated its 80th birthday on Monday, assured the public it will stay aloft despite the continuing ravages of the pandemic to the world’s economy as it works towards full recovery and the revival of the tourism and travel sector.

PAL President and COO Gilbert Santa Maria said: “Our message to our country and the world: Buhay pa tayo. Andito pa tayo. At hindi tayo aalis. (PAL is alive, we’re still here, and we’re here to stay.) This great lady–Philippine Airlines– will stay aloft while she is in our care.”

Santa Maria made this statement following a dawn Eucharistic celebration welcoming PAL’s 80th anniversary on Monday.

The open air mass, held at the grounds of the south wing of NAIA Terminal 2, was attended by management officials and representatives from various PAL depart-

Santa Maria

he local government of Bulacan and its stakeholders are fully supportive of the immediate construction of the New Manila International Airport (NMIA) in Bulakan, Bulacan, saying that this multibillion-peso project has the potential to bring economic benefits to the province.

Bulacan Governor Daniel Fernando said in a public hearing conducted by the Environment Management Bureau of the Department of Environment and Natural Resources (DENR) that the project will help provide jobs to residents and other Filipinos amid the pandemic, which caused the unemployment rate to rise.

“This project will bring development and can increase our way of living,” he said, noting that with the airport built, the province could become a “global destination for tourism.”

For Bulakan Mayor Vergel Meneses, aside from providing a boost for the town, the P740-billion project could also address the perennial congestion in the country’s current gateway.

“The municipal government of Bulacan supports this project. We

NGCP unveils central monitoring system

T

Photo shows (from left) PAL Senior Vice President Rose Katalbas and Fr. Jose Winston Margate. Contributed Photo

ments and guests.

Despite the challenges of the pandemic, the flag carrier has been focusing on repatriation and cargo transport efforts as well as rebuilding its network of commercial flights on key international and domestic routes, according to PAL Spokesperson Cielo Villaluna.

PA L sa id it brought home 310,000 of the displaced 420,000 overseas Filipinos to their respective provinces from March 2020 up to the present. Within the same period, tens of thousands of foreign nationals flew back to their home countries via PAL.

At present, the airline is airlifting shipments of anti-Covid vaccines to areas in Mindanao, Luzon and the Visayas.

The flag carrier has restored regular commercial flights to the United States, Canada, Japan, Saudi Arabia, the United Arab Emirates, Qatar and several Asian countries, as well as most of its domestic trunk and inter-island routes.

As a fitting cap to his message, the PAL President read the Knights Templar Motto: “Non nobis, Domine, non nobis, sed Nomini tuo da gloriam [Not for us, My Lord, not for us, but to your Name give the glory].”

want to start this project as soon as possible because we know the huge opportunities that this will open for our town,” he said.

To be built on a 2,400-hectare property in Bulakan, Bulacan, just north of Metro Manila, the $15-billion airport complex will have four runways, eight taxiways, and three passenger terminals. It also has provisions for future expansion to sport six runways and to accommodate 200 million passengers per year.

It is expected to help raise tourism levels to 30 million annually, generate over a million direct and indirect jobs, and to contribute roughly P900 billion annually to GDP by 2025.

The project is being undertaken

by San Miguel Corp. (SMC), which has so far provided cash assistance to a total of 364 beneficiaries who were relocated for the construction of the project.

The diversified conglomerate has also partnered with the Technical Education Skills Development Authority to train 58 former Taliptip coastal residents in different courses geared towards employment during airport construction and full operations, and to open businesses that will cater to the airport and the surrounding communities.

he National Grid Corporation of the Philippines ( NGC P) cou ld now re motely operate unmanned substations, improving the operational performance of its transmission facilities.

The grid operator recently launched its Central Control and Monitoring System (CCMS), as part of its ongoing efforts to improve power transmission capabilities and bring the country closer to running on a Smart Grid.

The CCMS is a technology used to automate certain functions of the power transmission grid, particularly in its substations.

The system comprises of realtime monitoring software and hardware to be used for the acquisition, collection, centralized monitoring, and analysis of power data and equipment condition.

The CCMS is part of the company’s commitment to introduce Smart Grid technology to Philippine grid operations. A Smart Grid incorporates modern hardware and digital software to intuitively and intelligently automate the

functions of the power system.

This translates to improved grid security and information management, efficient integration of the connection between generators and load customers, effective response to the needs of the transmission network, and greater reliability and quality of power transmitted by the grid.

The pilot operations of the CCMS are in NGCP’s Cagayan de Oro and Cebu substations, with the company targeting to expand CCMS-enabled facilities to 21 substations around the country by 2025.

“NGCP is pleased with this development as it works to keep pace with the rising standards of power utility practices around the globe, as part of its commitment to realize a smarter, more efficient power transmission grid,” it said.

NGCP is a Filipino-led, privately owned company in charge of operating, maintaining, and developing the country’s power grid, led by majority shareholders and Vice Chairman of the Board Henry Sy, Jr. and Co-Vice Chairman Robert Coyiuto Jr. Lenie Lectura

B2

Companies BusinessMirror

Tuesday, March 16, 2021

PSE STOCK QUOTATIONS

March 15, 2021

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

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

43.4 102.3 80 23.4 9.45 45.45 10.1 22 22.9 54.6 17.04 119 71.1 1.56 3.9 0.57 3 7.5 1.39 0.38 950 0.71 150 2,324 0.98

43.95 102.4 80.2 23.45 9.47 45.5 10.3 22.1 23 55 17.1 119.5 72 1.64 3.99 0.62 3.05 8.69 1.4 0.405 975 0.77 150.5 2,490 1.07

44.2 103.5 80.2 23.85 9.9 47.2 10.3 22.1 23.9 55 17.18 124 72 1.79 3.99 0.59 3.15 7.5 1.45 0.385 950 0.78 150.5 2,324 1

44.2 103.9 80.6 23.85 9.9 47.2 10.3 22.1 23.9 55.2 17.2 124 72.5 1.79 4 0.59 3.15 7.5 1.45 0.42 950 0.78 150.5 2,500 1

43.4 101.6 78 23 9.31 45.15 10.1 22.1 22.55 55 17.02 118.1 71 1.5 3.9 0.57 3 7.5 1.35 0.38 950 0.71 149 2,324 0.99

43.4 102.3 80.2 23.45 9.45 45.45 10.1 22.1 22.9 55 17.1 119 71.1 1.56 3.99 0.57 3.05 7.5 1.39 0.4 950 0.75 150 2,500 0.99

3,100 136,440 3,025,050 309,746,900 3,632,230 288,056,714.50 135,100 3,194,055 576,000 5,475,052 6,214,400 283,854,455 16,200 166,760 1,100 24,310 468,900 10,827,270 940 51,710 73,700 1,260,160 1,694,890 201,845,482 22,280 1,584,836 1,308,000 2,118,480 227,000 903,120 350,000 203,250 123,000 374,010 600 4,500 192,000 264,040 320,000 124,150 590 560,500 51,000 36,880 509,480 76,421,805 40 97,240 180,000 178,800

-4,340 -93,298,185 -144,502,681.50 -1,144,290 -621,816 88,174,485 -2,421,450 -44,512 -93,910,249 -91,049.50 -90 541,500 -74,911,908 -23,240 -

INDUSTRIAL AC ENERGY 6.76 6.77 7 7.02 6.61 6.77 36,338,200 245,664,605 1.22 1.23 1.24 1.24 1.21 1.23 1,845,000 2,259,950 ALSONS CONS ABOITIZ POWER 25.15 25.65 25 25.65 24.75 25.65 5,372,500 134,564,095 0.81 0.82 0.89 0.9 0.78 0.81 93,447,000 77,589,620 BASIC ENERGY 29.2 29.5 30 30 29.05 29.5 1,619,000 47,424,305 FIRST GEN FIRST PHIL HLDG 71.8 72 72.8 72.8 71.8 72 48,950 3,525,237 267.2 267.4 278 278 266.8 267.4 369,110 99,181,920 MERALCO MANILA WATER 13.82 13.9 14.5 14.5 13.5 13.84 1,547,300 21,507,928 PETRON 3.17 3.22 3.35 3.36 3.17 3.17 2,554,000 8,405,720 3.59 3.6 3.67 3.67 3.6 3.6 381,000 1,382,630 PETROENERGY PHX PETROLEUM 11.64 11.84 12.02 12.02 11.4 11.64 160,900 1,874,422 20.55 21 21.5 21.5 20.1 21 1,265,700 26,470,915 PILIPINAS SHELL 10.14 10.16 10.2 10.2 10.04 10.14 178,800 1,811,938 SPC POWER VIVANT 14.5 14.96 14.52 14.52 14.5 14.5 5,600 81,212 7 7.13 7.4 7.57 6.6 7.13 7,076,200 51,400,131 AGRINURTURE 3.1 3.13 3.23 3.29 3.01 3.13 1,150,000 3,595,810 AXELUM CNTRL AZUCARERA 12.82 13 13.54 13.54 12.82 12.82 5,300 69,330 17.1 17.2 17.2 17.42 17 17.2 1,003,100 17,259,972 CENTURY FOOD DEL MONTE 8.9 9 9.6 9.69 8.6 9 474,900 4,271,960 DNL INDUS 7.1 7.17 7.4 7.59 6.9 7.1 3,670,200 26,544,231 10.2 10.28 10.24 10.28 10 10.28 494,700 5,029,426 EMPERADOR SMC FOODANDBEV 61.5 61.55 64 64 61.55 61.55 100,250 6,227,001.50 0.61 0.62 0.61 0.61 0.6 0.61 1,838,000 1,120,870 ALLIANCE SELECT 1.4 1.42 1.44 1.44 1.4 1.42 13,232,000 18,588,140 FRUITAS HLDG GINEBRA 49.5 51.9 51.4 52.9 49 51.9 59,420 3,029,969 179.5 180 181.7 181.9 176 180 1,318,830 236,129,514 JOLLIBEE 30.05 30.95 30.55 30.55 30.05 30.05 7,000 211,585 LIBERTY FLOUR MACAY HLDG 7.41 7.99 7.5 8.14 7.41 7.99 2,500 19,647 5.56 5.57 5.81 5.81 5.5 5.59 311,100 1,725,603 MAXS GROUP MG HLDG 0.295 0.305 0.305 0.31 0.28 0.3 12,090,000 3,576,550 SHAKEYS PIZZA 6.6 6.75 6.99 6.99 6.75 6.75 119,700 818,008 1.01 1.05 1.1 1.1 1 1.05 3,906,000 4,091,110 ROXAS AND CO ROXAS HLDG 1.42 1.47 1.42 1.42 1.4 1.4 39,000 54,980 0.131 0.132 0.136 0.136 0.13 0.131 7,950,000 1,043,810 SWIFT FOODS 120.3 121.8 126 126.7 118.6 121.8 1,637,700 198,722,004 UNIV ROBINA VITARICH 0.79 0.8 0.81 0.84 0.78 0.79 3,402,000 2,718,000 2.2 2.25 2.19 2.19 2.19 2.19 12,000 26,280 VICTORIAS CONCRETE A 51.15 52 52 52 51.8 51.8 470 24,406 1.1 1.11 1.18 1.18 1.08 1.11 5,752,000 6,427,860 CEMEX HLDG 3.05 3.1 3.3 3.3 3.01 3.05 21,048,000 65,669,160 DAVINCI CAPITAL EAGLE CEMENT 10.44 11 11.68 11.72 10.22 10.44 604,200 6,517,652 EEI CORP 7.75 7.87 7.9 7.9 7.7 7.87 141,900 1,093,819 5.16 5.19 5.35 5.35 5 5.16 587,500 3,015,223 HOLCIM MEGAWIDE 6.24 6.25 6.7 6.7 6.1 6.24 2,205,300 13,832,121 12.1 12.18 12.24 12.24 12.16 12.18 109,600 1,336,212 PHINMA 1.08 1.12 1.17 1.17 1.06 1.08 1,562,000 1,714,500 TKC METALS VULCAN INDL 1.99 2 2.29 2.29 1.98 2 22,964,000 47,763,570 2.06 2.09 2.03 2.1 2.02 2.09 1,620,000 3,298,030 CROWN ASIA EUROMED 1.95 2.04 1.96 2.06 1.85 2.06 379,000 734,560 LMG CORP 4.5 4.97 4.97 4.97 4.97 4.97 1,000 4,970 4.03 4.25 4.25 4.25 4.25 4.25 9,000 38,250 MABUHAY VINYL PRYCE CORP 5.19 5.29 5.42 5.42 5.29 5.29 1,140,600 6,140,387 CONCEPCION 20.4 20.5 20.7 21 20.35 20.35 24,800 513,975 3.81 3.82 4.17 4.18 3.82 3.82 25,329,000 99,281,900 GREENERGY INTEGRATED MICR 10 10.06 10.04 10.2 9.6 10 1,918,800 19,016,387 1.07 1.1 1.13 1.13 1.06 1.1 765,000 832,370 IONICS 5.56 5.8 5.58 5.8 5.56 5.8 7,000 39,022 PANASONIC SFA SEMICON 1.24 1.28 1.36 1.36 1.24 1.28 2,211,000 2,835,330 5.67 5.7 5.8 5.85 5.55 5.7 2,875,700 16,362,767 CIRTEK HLDG

6,184,001 -24,566,730 1,802,890 -19,775,675 955,993.50 -9,645,788 -4,223,644 -2,176,350 25,242 9,306,825 158,632.00 -2,762 9,270 -3,365,296.00 310,880 837,086 169,462 -1,641,555.50 -695,280 2,239,952 17,146,165 -118,365 -45,655 189,850 -217,745 -270,760 -51,090 -76,032,512 26,280 -1,974,900 352,520 -4,664,006 -113,304 -46,699.00 -404,459 -5,680 1,960 -4,826,520 420,210 -2,383,450 5,454,020.00 12,840 172,640 233,404

HOLDING & FRIMS ASIABEST GROUP 6.83 7.1 7.18 7.18 6.83 7.15 6,000 41,496 733 740 770 770 733 733 274,500 203,261,005 AYALA CORP ABOITIZ EQUITY 37.8 38 40 40.45 37.6 37.8 2,365,200 90,211,670 10.32 10.38 10.8 10.8 10.2 10.32 4,766,900 49,200,422 ALLIANCE GLOBAL 2.76 2.78 2.84 2.84 2.71 2.78 1,712,000 4,754,770 AYALA LAND LOG ANSCOR 6.55 6.6 6.65 6.65 6.5 6.6 31,800 208,401 0.67 0.68 0.72 0.72 0.66 0.67 5,235,000 3,618,600 ANGLO PHIL HLDG ATN HLDG A 0.81 0.82 0.85 0.85 0.81 0.82 4,740,000 3,904,200 0.82 0.88 0.89 0.89 0.89 0.89 2,000 1,780 ATN HLDG B 5.1 5.13 5.4 5.4 5.05 5.1 2,175,400 11,140,227 COSCO CAPITAL DMCI HLDG 5.15 5.2 5.3 5.34 5.04 5.2 6,723,300 34,474,622 8.2 8.58 8.92 8.92 8.16 8.58 236,500 1,991,573 FILINVEST DEV 0.24 0.245 0.24 0.24 0.24 0.24 580,000 139,200 FORUM PACIFIC GT CAPITAL 520 525 535 535.5 503 525 235,310 121,706,825 3.55 3.7 3.56 3.56 3.56 3.56 16,000 56,960 HOUSE OF INV 61 62 63 63 60.1 62 1,367,820 83,988,880.50 JG SUMMIT LODESTAR 1.17 1.18 1.28 1.28 1.15 1.18 14,826,000 17,949,440 3.52 3.67 3.75 3.75 3.52 3.52 286,000 1,046,320 LOPEZ HLDG LT GROUP 13 13.08 13.3 13.3 12.5 13.08 2,015,700 25,928,866 MABUHAY HLDG 0.48 0.51 0.52 0.52 0.48 0.48 840,000 414,450 1.75 1.86 1.75 1.75 1.75 1.75 2,000 3,500 MJC INVESTMENTS METRO PAC INV 3.77 3.78 3.95 3.95 3.68 3.78 28,544,000 107,594,000 3.33 3.66 3.75 3.75 3.6 3.6 92,000 333,030 PACIFICA HLDG 2.46 2.48 2.99 2.99 2.35 2.46 14,715,000 38,025,740 PRIME MEDIA REPUBLIC GLASS 2.52 2.75 2.53 2.53 2.53 2.53 38,000 96,140 1.25 1.29 1.28 1.29 1.25 1.29 138,000 174,390 SOLID GROUP 325 339 345.8 365 318 340 1,640 548,404 SYNERGY GRID SM INVESTMENTS 1,009 1,018 1,035 1,035 998 1,018 340,165 344,276,310 116.5 119.9 121.2 122 115 119.9 300,110 35,282,879 SAN MIGUEL CORP TOP FRONTIER 135.4 139.9 140 140 135.4 135.4 100 13,724 0.235 0.245 0.235 0.235 0.235 0.235 970,000 227,950 WELLEX INDUS 0.205 0.209 0.211 0.211 0.197 0.205 3,930,000 797,550 ZEUS HLDG

-3,415 -84,365,435 -51,790,680.00 -11,542,898 1,313,540 16,950 873,740 4,162,184 -199,369 -28,151,350 -38,197,085 -46,410 10,800 -6,386,382 500 -55,293,640 7,250 5,217,330 -159,107,667.50 4,620,551 -

PROPERTY ARTHALAND CORP 0.62 0.63 0.64 0.64 0.62 0.62 446,000 279,050 7.5 7.94 7.54 7.94 7.54 7.54 1,200 9,088 ANCHOR LAND AYALA LAND 35.9 35.95 36.7 36.9 35 35.9 11,451,700 409,399,205 1.2 1.21 1.22 1.22 1.21 1.21 478,000 578,940 ARANETA PROP 31.75 32 32.1 32.5 31 31.75 1,802,000 57,053,935 AREIT RT BELLE CORP 1.46 1.54 1.53 1.53 1.46 1.46 400,000 595,870 0.86 0.87 0.87 0.89 0.85 0.87 1,651,000 1,420,990 A BROWN CITYLAND DEVT 0.78 0.79 0.8 0.8 0.77 0.79 244,000 189,390 CROWN EQUITIES 0.132 0.137 0.131 0.14 0.131 0.137 4,500,000 597,690 6.38 6.99 7 7 6.11 6.99 38,000 254,232 CEBU HLDG CEB LANDMASTERS 5.18 5.2 5.37 5.37 5.16 5.18 1,141,800 5,922,777 0.39 0.395 0.395 0.395 0.39 0.395 7,760,000 3,055,000 CENTURY PROP 0.32 0.325 0.34 0.34 0.31 0.32 2,160,000 693,650 CYBER BAY DOUBLEDRAGON 12.54 12.56 14.18 14.2 12.5 12.54 7,793,400 100,920,170 6.58 6.79 6.9 6.9 6.56 6.8 29,500 194,381 DM WENCESLAO 0.285 0.29 0.295 0.295 0.28 0.285 1,370,000 389,250 EMPIRE EAST EVER GOTESCO 0.091 0.092 0.09 0.091 0.085 0.091 3,990,000 350,190 1.13 1.14 1.18 1.19 1.13 1.13 15,498,000 17,780,230 FILINVEST LAND GLOBAL ESTATE 0.84 0.87 0.86 0.86 0.85 0.85 1,313,000 1,121,350 7.05 7.06 7.14 7.14 7.05 7.05 24,600 175,074 8990 HLDG 1.4 1.41 1.5 1.5 1.4 1.4 4,755,000 6,754,070 PHIL INFRADEV CITY AND LAND 1.12 1.13 1.12 1.18 1.07 1.12 5,335,000 6,001,500 3.34 3.35 3.53 3.53 3.35 3.35 21,984,000 74,507,270 MEGAWORLD 0.365 0.37 0.4 0.4 0.35 0.365 67,070,000 24,563,700 MRC ALLIED PHIL ESTATES 0.37 0.375 0.41 0.41 0.365 0.37 7,450,000 2,799,500 1.42 1.43 1.44 1.48 1.36 1.43 1,643,000 2,367,420 PRIMEX CORP 17.7 17.92 18.3 18.3 17.24 17.92 3,000,900 53,168,956 ROBINSONS LAND PHIL REALTY 0.25 0.255 0.27 0.27 0.25 0.255 4,430,000 1,153,700 1.39 1.41 1.4 1.4 1.38 1.4 380,000 529,760 ROCKWELL SHANG PROP 2.67 2.7 2.7 2.7 2.7 2.7 22,000 59,400 STA LUCIA LAND 2.17 2.18 2.19 2.24 2.14 2.17 367,000 797,020 35.65 35.7 36.05 36.1 35.35 35.65 10,223,400 364,586,350 SM PRIME HLDG VISTAMALLS 3.68 3.75 3.79 3.79 3.66 3.75 53,000 197,310 1.45 1.49 1.58 1.58 1.42 1.49 1,535,000 2,255,180 SUNTRUST HOME 42.1 52.55 45 45 45 45 200 9,000 PTFC REDEV CORP VISTA LAND 3.88 3.89 4.19 4.19 3.85 3.88 2,955,000 11,693,890

3,200 -153,026,465 -20,880,335 -18,660 67,361 -118,500 18,900 -4,148 45,600.00 4,454,500 27,560.00 -198,400.00 -36,994,140 -111,050 11,100 902,890 -6,314,202 -116,200 2,700 33,971,035.00 83,120 -1,482,700

SERVICES ABS CBN 11.2 11.3 11.56 11.66 10.92 11.2 339,100 3,832,906 6.84 6.85 7.16 7.16 6.85 6.85 1,027,500 7,132,105 GMA NETWORK MANILA BULLETIN 0.435 0.45 0.45 0.45 0.45 0.45 10,000 4,500 9.11 10.46 10.04 10.04 10.04 10.04 800 8,032 MLA BRDCASTING 1,951 1,980 1,952 1,980 1,940 1,980 53,070 103,882,450 GLOBE TELECOM PLDT 1,265 1,266 1,295 1,295 1,265 1,266 120,560 153,737,300 0.187 0.188 0.19 0.197 0.175 0.188 1,281,350,000 238,342,020 APOLLO GLOBAL CONVERGE 16.82 16.84 17.78 17.78 16.76 16.82 4,908,400 83,735,680 DFNN INC 3.8 3.9 3.93 4.05 3.84 3.84 483,000 1,888,990 9.85 9.88 11.4 11.4 9.15 9.85 147,283,400 1,486,775,707 DITO CME HLDG ISLAND INFO 0.145 0.148 0.151 0.155 0.14 0.148 13,870,000 2,050,220 1.9 1.92 1.97 1.97 1.9 1.9 206,000 397,940 JACKSTONES 2.62 2.63 2.88 2.88 2.61 2.63 6,449,000 17,284,230 NOW CORP TRANSPACIFIC BR 0.46 0.465 0.51 0.52 0.445 0.46 72,257,000 34,080,375 2.6 2.65 2.81 2.81 2.4 2.65 817,000 2,128,630 PHILWEB 9 9.1 9.1 9.7 8.8 9.1 414,100 3,838,644 2GO GROUP ASIAN TERMINALS 15.06 15.5 15.5 15.5 15.5 15.5 3,100 48,050 3.3 3.33 3.51 3.51 3.23 3.3 1,848,000 6,169,600 CHELSEA CEBU AIR 43.95 44 46 46 43.9 44 312,000 13,814,720 INTL CONTAINER 122.6 123.5 126 126.5 120.2 122.6 1,944,440 238,213,899 17.1 17.16 17.14 17.16 16.8 17.16 1,800 30,590 LBC EXPRESS LORENZO SHIPPNG 0.99 1.04 1.08 1.08 0.97 1.04 1,564,000 1,619,900 5.04 5.05 5.11 5.15 5 5.05 2,632,000 13,208,264 MACROASIA 2.35 2.38 2.65 2.65 2.31 2.35 679,000 1,620,560 METROALLIANCE A METROALLIANCE B 2.55 2.93 2.55 2.55 2.55 2.55 1,000 2,550 6.1 6.15 6.15 6.35 6.09 6.17 35,700 219,038 PAL HLDG 1.15 1.17 1.19 1.2 1.12 1.17 1,127,000 1,289,280 HARBOR STAR ACESITE HOTEL 1.46 1.5 1.5 1.5 1.5 1.5 2,000 3,000 0.085 0.086 0.083 0.093 0.076 0.085 1,954,560,000 164,405,280 BOULEVARD HLDG DISCOVERY WORLD 5.32 5.37 5.52 5.87 4.81 5.37 3,378,700 18,387,827 GRAND PLAZA 10 10.54 10.22 10.22 10 10 3,400 34,476 0.48 0.485 0.5 0.51 0.485 0.485 3,638,000 1,795,600 WATERFRONT FAR EASTERN U 580 590 580 580 580 580 40 23,200 7.4 8.18 7.39 7.39 7.39 7.39 3,000 22,170 IPEOPLE 0.37 0.375 0.385 0.385 0.37 0.37 3,430,000 1,284,850 STI HLDG BERJAYA 4.33 4.55 4.33 4.34 4.33 4.34 22,000 95,320 7.31 7.39 7.5 7.51 7.17 7.31 3,216,700 23,331,243 BLOOMBERRY PACIFIC ONLINE 2.03 2.04 2.1 2.1 2.04 2.04 62,000 126,560 LEISURE AND RES 1.63 1.67 1.81 1.81 1.6 1.67 906,000 1,520,160 2.05 2.1 2.07 2.12 2.05 2.05 55,000 113,700 MANILA JOCKEY PH RESORTS GRP 2 2.01 2.25 2.25 2 2.01 17,670,000 36,181,890 PREMIUM LEISURE 0.4 0.405 0.425 0.425 0.38 0.4 18,210,000 7,183,450 6.18 6.22 6.2 6.2 6.18 6.18 11,100 68,620 PHIL RACING ALLHOME 7.95 7.96 8.2 8.2 7.96 7.96 2,925,200 23,402,082 1.24 1.25 1.28 1.28 1.22 1.24 1,596,000 1,992,940 METRO RETAIL 34.2 34.5 35.4 35.4 34.05 34.2 1,627,600 56,052,975 PUREGOLD ROBINSONS RTL 52.8 53.05 54 54 52.5 52.8 945,180 49,926,216.50 92.4 93 97.15 97.15 90 93 17,720 1,661,516.50 PHIL SEVEN CORP SSI GROUP 1.18 1.19 1.21 1.22 1.17 1.19 2,850,000 3,391,080 WILCON DEPOT 16.6 16.7 16.82 16.9 16.44 16.6 4,273,400 71,102,878 0.41 0.415 0.38 0.415 0.375 0.41 2,790,000 1,119,450 APC GROUP EASYCALL 6.78 6.87 7 7 6.71 6.87 48,400 330,264 GOLDEN MV 425 450 450 450 425 450 62,330 26,497,756 4.9 5.14 5 5 5 5 2,000 10,000 IPM HLDG PAXYS 2.24 2.37 2.24 2.24 2.24 2.24 42,000 94,080 2.1 2.11 2.35 2.35 2.05 2.1 127,723,000 277,879,310 PRMIERE HORIZON 4.31 4.72 4.39 4.39 4.31 4.31 17,000 73,640 SBS PHIL CORP

10,838,105 -33,310,955 8,528,630 7,015,820 202,800 8,800,230 152,470 184,590.00 281,670 391,590 -61,650 159,840 8,172,135 -51,413,848 -405,290 -296,690.00 -124,460 -4,149,350 134,250 -1,000 249,500 -11,287,604 2,060 226,200 -45,140 50,550 -1,179,825.00 -605,990 -26,062,120.00 8,501,159.50 -144,331 77,180 -3,869,476 -21,800 3,435 1,068,150 -

MINING & OIL

ATOK 7 7.1 7.76 7.81 7 7 2,795,900 19,967,845 3,043,996 APEX MINING 1.4 1.41 1.47 1.48 1.39 1.4 4,849,000 6,878,250 227,220 6.32 6.46 6.64 6.78 6.46 6.46 476,200 3,119,362 -233,643 ATLAS MINING 2.57 2.8 2.73 2.8 2.65 2.8 113,000 300,410 BENGUET A COAL ASIA HLDG 0.29 0.3 0.31 0.31 0.29 0.295 510,000 151,100 2.7 2.8 2.7 2.8 2.64 2.8 32,000 88,100 58,630 CENTURY PEAK DIZON MINES 9.89 10.9 10.2 10.9 9.98 10.9 69,100 693,670 2.39 2.41 2.33 2.41 2.22 2.41 10,878,000 25,097,990 12,338,970.00 FERRONICKEL 0.355 0.36 0.37 0.38 0.36 0.36 4,520,000 1,643,850 40,550 GEOGRACE LEPANTO A 0.131 0.132 0.139 0.139 0.13 0.132 19,690,000 2,630,360 0.131 0.14 0.136 0.136 0.13 0.13 1,200,000 160,100 LEPANTO B 0.0099 0.01 0.01 0.01 0.0098 0.0099 185,500,000 1,838,780 MANILA MINING A MANILA MINING B 0.0097 0.01 0.0095 0.0097 0.0095 0.0097 3,500,000 33,850 1.16 1.19 1.25 1.25 1.13 1.16 2,411,000 2,863,280 -121,540 MARCVENTURES 2.14 2.21 2.32 2.32 2.13 2.22 336,000 725,270 2,200 NIHAO NICKEL ASIA 5.26 5.29 5.3 5.4 5.21 5.29 5,749,300 30,426,784 1,768,116 0.4 0.43 0.4 0.4 0.4 0.4 500,000 200,000 OMICO CORP ORNTL PENINSULA 0.83 0.87 0.92 0.92 0.83 0.87 1,864,000 1,610,000 51,330 PX MINING 4.55 4.6 4.78 4.78 4.5 4.6 1,024,000 4,690,370 274,570 11.92 11.96 12.4 12.4 11.8 11.96 2,772,800 33,352,206 -6,396,012 SEMIRARA MINING UNITED PARAGON 0.0077 0.008 0.0085 0.0085 0.0077 0.008 159,000,000 1,271,600 8,100 23 23.45 25 25.2 21.2 23.45 977,500 22,528,740 1,027,285 ACE ENEXOR 0.011 0.012 0.012 0.012 0.011 0.011 556,700,000 6,125,200 ORNTL PETROL A PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.011 193,100,000 2,136,100 60,500 8.5 8.59 8.7 8.7 8.13 8.5 766,900 6,444,976 282,274.00 PXP ENERGY

PREFFERED HOUSE PREF B 100.1 100.2 101 101 100.2 100.2 640 64,584 100 100.7 100 100 100 100 6,600 660,000 HOUSE PREF A ALCO PREF B 101.2 102 101.2 101.2 101.2 101.2 760 76,912 511 520 511 515 511 515 190 97,450 AC PREF B2R 101.8 103.5 102 102 102 102 390 39,780 CPG PREF A DD PREF 101.2 101.3 101.5 101.5 101.3 101.3 1,660 168,368 105.3 108.7 106 108.7 105.1 108.7 30,490 3,204,868 FGEN PREF G GLO PREF P 504 505 505 505 505 505 200 101,000 1,036 1,038 1,036 1,037 1,035 1,037 1,165 1,206,970 GTCAP PREF B 100 100.5 100 100.5 100 100.5 12,790 1,279,410 MWIDE PREF MWIDE PREF 2B 100 101.1 100.6 100.6 100 100 55,000 5,503,867 105 107.8 107.8 107.8 107.8 107.8 1,020 109,956 PNX PREF 3B 1,007 1,008 1,003 1,007 1,001 1,007 11,450 11,496,800 PNX PREF 4 PCOR PREF 2B 1,013 1,014 1,014 1,014 1,012 1,014 275 278,770 1,100 1,115 1,100 1,100 1,100 1,100 100 110,000 PCOR PREF 3A 1,124 1,125 1,125 1,125 1,124 1,124 85 95,560 PCOR PREF 3B SFI PREF 1.71 1.84 1.84 1.84 1.71 1.71 13,000 22,460 79.5 79.95 80 80 79.8 79.95 2,820 225,509 SMC PREF 2C SMC PREF 2F 77.9 79 79 79 79 79 40,000 3,160,000 76.95 77.1 76.3 76.95 76.25 76.95 5,720 439,735 SMC PREF 2J 76.1 77.1 76.25 77.1 76.05 77.1 44,660 3,397,783.50 SMC PREF 2K

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.52 10.8 11.3 11.3 10.8 10.8 47,400 521,320 -108,000 6.6 6.84 6.86 6.88 6.83 6.84 138,600 950,195 -13,720 GMA HLDG PDR

WARRANTS LR WARRANT 1.81 1.84 2.1 2.16 1.63 1.81 10,410,000 19,300,750 21,550

SMALL & MEDIUM ENTERPRISES ALTUS PROP 20 20.6 20.5 22 19 20 312,000 6,363,579 2.3 2.33 2.45 2.45 2.21 2.38 1,796,000 4,148,500 -29,120 ITALPINAS KEPWEALTH 5.45 5.46 5.66 5.66 5.45 5.45 25,400 140,089 2.53 2.69 2.55 2.55 2.54 2.54 17,000 43,230 MAKATI FINANCE 4.53 4.54 5 5.01 4.39 4.54 62,317,500 289,185,514 4,037,276 MERRYMART

EXHANGE TRADE FUNDS

FIRST METRO ETF 99.25 100 101.5 101.5 98.7 99.25 98,750 9,865,082 858,635.50

www.businessmirror.com.ph

Absence of land sales pulls down DMW income in 2020

D

By VG Cabuag

@villygc

.M. Wenceslao and Associates Inc. (DMW), a property developer and a construction firm, on Monday said its attributable income fell 10 percent to P2.13 billion in 2020, from the previous year’s P2.37 billion, as revenues plummeted due to the absence of land sales.

In its disclosure, the company said its revenues declined 22 percent to P2.73 billion from P3.51 billion in 2019, when it booked land sales of P935.85 million and more construction contracts.

“While 2020 proved to be a uniquely challenging year that caused unparalleled economic disruption globally, the risks that the pandemic posed in our business operations have been minimal,” Delfin

Angelo Wenceslao, the company’s CEO, said.

“Despite the uncertainty brought upon by this pandemic, our leasing business proved to be a solid source of recurring income as our lease portfolio is spread across various industries with diverse area requirements and commercial considerations. Our residential segment continued to deliver favorable results for the year. Our performance in 2020 is reflective of

not only the resiliency and scalability of our diversified business streams but also the execution capabilities of the [company’s] team.”

Sales of condominium units rose 37 percent to P749.3 million, from P547.65 million reported in the same period the previous year.

As of December, the company has successfully turned over 91 percent of its inventory and recognized revenues amounting to P1.25 billion for its first residential project, Pixel Residences.

Recurring income consisting of rentals from land, building and other revenues such as common use service area fees continued to provide a source of revenue for the company, accounting for 72 percent or P1.96 billion of the total revenues for 2020, a little higher than the previous year’s P1.95 billion.

The company’s building leasing portfolio maintained an occupancy rate of 93 percent.

Last year, the company deployed P5.04 billion or 66 percent of its net proceeds from its initial public offering for the development of its

pipeline projects. By this year, DMW said it will complete two projects in its pipeline.

These are 8912 Asean Ave., the company’s largest office project to date, to open in the second quarter, and and Parqal, an integrated mixed-use development slated for completion due for completion in the fourth quarter.

Upon its completion, these projects will increase its available gross leasable area by 140,000 square meters and further strengthen its recurring income streams.

The company is the master developer and primary owner of Aseana City, a development project with a total land area of 107.5 hectares located along the coastal waters of Manila Bay. Since 1965, DMW has reclaimed more than 2.4 million square meters of land, leased or developed 250,000 square meters of land and buildings, and completed over 140 construction and infrastructure projects including large, complex government developments throughout the Philippines.

AC Energy secures funding for India solar farm

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PC-AC Energy Solar, the joint venture between AC Energy and Infrastructure Corp.

(AC Energy) and UPC Solar Asia Pacific Ltd., have finalized funding for its 100megawatt (MW) solar farm in India.

This means that they reached financial close for the $67-million solar power project, which is expected to generate power within the first half of the year. Construction started last year.

“Sitara solar secured a 20-year loan from the US International Development Finance Corp.

(DFC), to be funded through a 75:25 debt-to-equity financing scheme,” Ayala Corp. said Monday.

AC Energy is a wholly-owned subsidiary of the conglomerate.

This is the latest in AC Energy’s string of initiatives to sustain its growth momentum and expand its renewables capacity in the Asia Pacific region.

“We are well-positioned to establish a meaningful presence in India and contribute to the country’s renewable energy goals, bringing a total of 450 MW of solar projects under construction and in the pipeline with our partner, UPC Renewables,” said Patrice Clausse, Chief Operating Officer of AC Energy International.

UPC-AC Energy Solar targets to achieve more than one gigawatt (GW) of solar energy portfolio across Asia.

In March 2019, UPC-AC Energy Solar won the power supply agreement for the 100 MW solar project via a competitive bid at INR 2.48 per kWh, fixed over a 25-year period.

“We are very thrilled with this financial close during the current challenging environment, where we were able to meet DFC’s high standards for environmental and social compliances.

This project is poised to enhance renewable power supply in India. We had faced many unexpected headwinds due to Covid-19 pandemic.

Thanks to the immense hardwork of the highly

motivated and capable teams from all parties involved, who worked shoulder-to-shoulder to make this transaction happen,” said Pranab Kumar Sarmah, CEO of UPC-AC Energy Solar and co-founder of UPC Solar Asia Pacific.

The partnership would help AC Energy achieve its goal to source over 60 percent of energy capacity from renewable sources in 10 years.

“We aim to contribute significant portion of AC Energy’s 2025 renewable energy capacity targets from our projects under development and construction in this region,” said UPC Renewables Chairman Brian Caffyn.

As one of the fastest-growing economies in the world, India ranks third globally in terms of its 2020 renewable energy investments and plans, and foresees its electricity consumption jumping to 15,280terrawat hours (TWH) in 2040. As of November 2020, India’s installed renewables capacity stands at 90.39 GW, with 36.91 GW coming from solar. Sitara Solar will supply energy to the government-owned Solar Energy Corporation of India (SECI), which facilitates the purchase and resale of electricity of solar projects to the benefit of the distribution companies across various states.

Meanwhile, AC Energy Corp. (ACEN) is investing P350 million in its subsidiary.

ACEN signed a subscription agreement with ACE Endevor Inc. involving 3.5 million Redeemable Preferred Shares at P100 apiece, to be issued out of the increase in authorized capital stock of Endevor.

The subscription agreement was signed last March 12. Endevor will use the proceeds to fund its projects’ pre-development and equity funding requirements.

The transaction is still subject to the approval of the Securities and Exchange Commission.

Endevor is intended to be ACEN’s project development, management, and operations platform. Lenie Lectura

Fujitsu opens new office in Makati

F

UJITSU Philippines Inc. said it has officially opened its new office in Makati City, which is “conducive for employees’ productivity while embracing the new normal amid the pandemic”.

Fujitsu Philippines President and CEO Raul Santiago said that its “borderless” concept is not new as it has been around for years as part of the company’s digital transformation efforts.

“We knew that today’s workplaces are changing into a non-physical environment, where employees can work anytime from anywhere.

When the pandemic started last year, it further accelerated the need for organizations to shift to flexible working setups quickly,” he said.

“In the next couple of years, we also anticipate the surge of younger, digital savvy, and more dynamic workforce, and we knew that this new office would cater to their needs.”

The modern Fujitsu office boasts of a colorful, cozy, and spacious interior suited to employees’ needs. It also embraced the flexible,

hot-desking style, where employees can take whatever desk is available instead of having one assigned space.

With the right mix of spaces to work in, all Fujitsu staff are allowed to set things up and use the suitable facilities, tools, and technologies while still making it easy for everyone to work together, whether they are on the go, in the office, at home, or in the field.

Its new facilities include employee lounges, phone booths, smart meeting rooms, open huddle rooms, and innovation labs for product simulations. There is also a nursing/breastfeeding clinic in response to the Department Order 143 of the Department of Labor and Employment that requires the set up of lactation stations in the workplace.

Currently, Fujitsu uses a hybrid setup to ensure full operation. Only some of the employees can go to the headquarters by schedule. Others work remotely, either from home, in the field, or with clients. Roderick L. Abad

mutual funds

March 15, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 214.56 13.17% -8.88% -2.97% -5.57% ATRAM Alpha Opportunity Fund, Inc. -a 1.2499 32.95% -8.28% 1.38% -4.81% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9432 13.37% -13.04% -5.05% -6.06% Climbs Share Capital Equity Investment Fund Corp. -a 0.7497 12.08% -8.64% n.a.

-6.74% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6678 0.12% n.a. n.a.

-9.95% First Metro Save and Learn Equity Fund,Inc. -a 4.6704 14.89% -6.92% -2.21% -5.48% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6823 7.36% -10.44% -6.92% -10.2% MBG Equity Investment Fund, Inc. -a 99.73 26.11% -5.68% n.a.

-2.17% PAMI Equity Index Fund, Inc. -a 44.176 17.26% -6.96% -1.6% -5.7% Philam Strategic Growth Fund, Inc. -a 461.49 13.89% -6.92% -2.19% -5.62% Philequity Alpha One Fund, Inc. -a,d,5 1.0364 24.18% n.a. n.a.

-5.55% Philequity Dividend Yield Fund, Inc. -a 1.1103 14.3% -6.65% -1.24% -4.96% Philequity Fund, Inc. -a 32.9724 15.32% -6.52% -0.68% -5.17% Philequity MSCI Philippine Index Fund, Inc. -a 0.8568 13.6% n.a. n.a.

-6.16% Philequity PSE Index Fund Inc. -a 4.5217 17.74% -6.49% -0.82% -5.62% Philippine Stock Index Fund Corp. -a 756.49 18.04% -6.39% -0.94% -5.63% Soldivo Strategic Growth Fund, Inc. -a 0.6805 12.15% -10.36% -4.7% -5.34% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.4281 11.16% -8.4% -2.38% -5.4% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8652 17.65% -6.7% -1.06% -5.72% United Fund, Inc. -a 3.163 13.94% -5.7% -0.05% -4.7% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 101.5155 18.01% -6.19% -0.24% -5.61% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2921 42.85% 4.29% 9.55% 7.42% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7013 40.65% 8.9% n.a.

1.7% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6387 13.89% -3.16% -0.88% -1.79% ATRAM Philippine Balanced Fund, Inc. -a 2.188 14.35% -3.1% 0.03% -4.26% First Metro Save and Learn Balanced Fund Inc. -a 2.5198 9.87% -2.55% -1.21% -4.08% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1895 2.38% n.a. n.a. -4.58% NCM Mutual Fund of the Phils., Inc. -a 1.9211 8.19% -0.57% 1.14% -2.18% PAMI Horizon Fund, Inc. -a 3.6084 10.18% -1.88% 0.02% -4.74% Philam Fund, Inc. -a 16.1859 10.12% -1.77% 0% -4.43% Solidaritas Fund, Inc. -a 2.0248 9.72% -2.73% 0.04% -3.31% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4428 7.42% -4.22% -1.06% -3.65% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9662 10.7% n.a. n.a.

-5.52% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8862 12.68% n.a. n.a.

-6.64% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.873 13.61% n.a. n.a.

-6.44% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8501 9.49% -5.11% -1.83% -4.24% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03794 -2.67% 2.53% 1.3% -3.02% PAMI Asia Balanced Fund, Inc. -b $1.1442 20.79% 1.73% 5.49% -0.52% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5611 27% 6.69% 8.52% 1.07% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1906 11.95% 3.34% n.a.

-0.96% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 369.95 2.61% 3.13% 2.59% -0.3% ATRAM Corporate Bond Fund, Inc. -a 1.9052 -0.5% 0.63% 0.15% 0.26% Cocolife Fixed Income Fund, Inc. -a 3.2157 2.27% 4.16% 4.58% 0.03% Ekklesia Mutual Fund Inc. -a 2.239 -0.29% 2.1% 1.74% -2.48% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4196 2% 3.06% 1.75% -1.37% Philam Bond Fund, Inc. -a 4.4406 1.99% 3.77% 2.09% -4.19% Philam Managed Income Fund, Inc. -a,6 1.3147 4.3% 4.21% 2.59% -0.49% Philequity Peso Bond Fund, Inc. -a 3.9377 3.89% 4.11% 2.67% -1.58% Soldivo Bond Fund, Inc. -a 1.0174 4.19% 3.95% 1.98% -2.36% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1593 2.15% 4.5% 3.04% -1.46% Sun Life Prosperity GS Fund, Inc. -a

1.7233 1.32% 3.78% 2.3% -1.81% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $481.27 2.02% 2.87% 2.46% -0.54% ALFM Euro Bond Fund, Inc. -a Є219.4 -0.27% 1.02% 1.23% 0.1% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1882 -1.74% 2.08% 1.42% -7.2% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 1.57% 1.33% 1.04% -3.01% PAMI Global Bond Fund, Inc -b $1.0581 -1.74% 0.35% -0.45% -3.17% Philam Dollar Bond Fund, Inc. -a $2.4528 1.85% 4.08% 2.27% -3.27% Philequity Dollar Income Fund Inc. -a $0.0624084 3.34% 3.18% 2.21% 0.14% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.0871 -1.92% 1.71% 0.95% -4.23% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.83 2.49% 3.23% 2.53% 0.02% First Metro Save and Learn Money Market Fund, Inc. -a 1.0493 1.6% n.a. n.a.

0.11% Sun Life Prosperity Money Market Fund, Inc. -a 1.2999 2.91% 2.59% 0.25% 2.15% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0547 1.35% 1.77% n.a.

0.22% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1972 n.a. n.a. n.a. 5.98% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 7.61% n.a. n.a.

1.02%

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

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

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

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

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

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Amid rising rates, govt T-bills sales fetch ₧20B

By Bernadette D. Nicolas @BNicolasBM

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ATES continued to rise on Monday’s auction days after monetary authorities said inflation is expected to peak in the second quarter of this year.

Despite the uptick in average rates across all tenors for several weeks, the Bureau of the Treasury (BTr) fully awarded on Monday about P20 billion in Treasury Bills (T-bills), raising more money amid a rising budget deficit.

The auction was still oversubscribed as it attracted tenders of P42.4 billion, more than double the offering.

Following the auction, National Treasurer Rosalia V. De Leon told reporters that “supply-side constraints pushed rates up as we also see oil prices increasing.”

De Leaon said the rates are “rising with expectation of higher inflation print seen to peak in the second quarter.”

“Domestic rates also trended up as US Treasuries adjusted upwards with good prospects of strong rebound with stimulus package,” the National Treasurer said referring to the $1.9-trillion stimulus package that US President Joe Biden greenlighted.

The 91-day T-bills’ average rate spiked to 1.232 percent, up by 9.3 basis points (bps) from 1.139 percent in the last auction. Bids for the tenor amounted to P13.46 billion, more than twice the P5-billion offer.

Meanwhile, the 182-day T-bills’ average rate surged to 1.527 percent, a 21.1-bps increase from P1.316 percent previously. Tenders for the security hit P8.6 billion, exceeding the P5-billion offer.

For the average rate of 364-day Tbills, it was recorded at 1.99 percent, jumping by 13.8 bps from previous auction’s 1.852 percent. Total bids for the security reached P20.34 billion, double the P10-billion offer.

Inflation in February soared to 4.7 percent, higher than the 2.6 percent recorded for February last year and the 4.2 percent last January. Inflation averaged 4.5 percent in the first two months of the year.

Last Friday, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said they are “not inclined” to tighten monetary policy at this juncture, despite its forecast that inflation will likely continue to rise in the next few months.

Diokno said inflation pressures continue to be “transitory” and “supply-side” in nature and, therefore, do not warrant any movements from the monetary policy side.

How to be an ideal financial advisor

A

suitable financial product and a reliable advisor go hand in hand in ensuring that you are getting close to your financial goals. With a wide range of financial products available in the market all claiming to be designed to fit your needs, choosing one really becomes a pretty challenging task, which could be made more complicated by fine prints that come along each insurance or investment product.

This points us to the idea that a reliable advisor will be of great help in selecting the financial product/s that will support the household. How then do you choose the correct financial advisor for you? If there is one word for me to describe an ideal financial advisor, it is the word fiduciary.

In a nutshell, a fiduciary exercises prudence when it comes to handling financial matters of another person. An individual with a fiduciary responsibility is ethically-bound to act in the best interests of the other party.

In my opinion, trustworthiness, expertise in financial planning and transparency are three of the traits of an advisor that clients should check in order to assess if the said advisor will stand alongside clients and promote clients’ best interests.

As a potential client, one may experience challenge in assessing trustworthiness of an advisor as advisors always put their best foot forward, which is pretty much expected. Another thing to note is that trust is established through longterm client-advisor interactions that develop through time.

In this case, I suggest for potential clients to solicit names of advisors that are trustworthy from their close group of friends and/or relatives that they trust. Ask someone from your inner circle whether their advisors are proactive in managing needs and deliverables (claims, documents payments, etc.) of clients and if prompt in addressing concerns and inquiries.

Advisor visibility is also important even after the closing of the deal.

Prospective client should also inquire whether the advisor has been unresponsive after the closing of the deal—it can be considered as a red flag for advisor trustworthiness.

One cannot overemphasize the importance of an advisor’s capability in financial planning. A reliable advisor does not only give general statements when talking to a client but rather provide a detailed plan given the situation of the client and providing actionable and sensible approaches, that is, how investments and/or financial products will help to achieve client’s financial goals.

An advisor should be articulate in financial planning and must be capable of breaking down ideas into concepts that can be easily understood. A prospective

John Hero Salvador

personal finance client may ask the advisor whether he or she has undergone training aimed to raise competence in financial planning.

Another indication of an advisor’s capability in terms of financial planning is the holistic approach that should be exercised when assessing the financial situation of prospect client.

In a way, an advisor should be able to have bird’s eye view of financial situation of client and how the resources of client can be effectively and efficiently utilized to address any of the following (if not all) aspects of financial planning – retirement planning, asset allocation, tax planning, financial management, risk management, education planning and/or estate planning while simultaneously being able to look into the details of an individual’s or household’s financial situation—income and expense breakdown, budget planning and behavioral aspect of money management.

We can think of an advisor as someone being able to use both a telescope (looking far) and microscope (looking into details) effectively.

On the other hand, a transparent advisor declares conflicts of interest (if there’s any) to client when recommending one product over the other after conducting thorough financial planning and coming up with shortlist of products to offer to potential client.

A common conflict of interest between client and advisor is the sale of a financial product that has a better compensation structure to advisor at the expense of suitability of such product to client and both parties must work together to address this concern.

In addition to this, the advisor should take the time and be willing to read through (with client) the prospectuses related to the financial product proposed and provide clarifications for any inquiries coming from clients’ end.

An advisor is an invaluable partner to one’s journey to reach financial goals.

As an advisor, one should focus simultaneously on increasing competency and establishing relationship with client. As a client, one should look for an advisor that is knowledgeable in the field and creates meaningful partnership not only in terms of business, but beyond as well.

John Hero Alfonso Salvador is a registered financial planner of RFP Philippines. To learn more about personal financial planning, attend the 88th RFP program this March 2021. For inquiries, e-mail info@rfp.ph or text <name><e-mail> <RFP> at 0917-6248110.

Tuesday, March 16, 2021 B3

‘Strong revenue efforts cause for govt to issue big stimulus’

H

By Jovee Marie N. dela Cruz

@joveemarie

OUSE Ways and Means Chairman, Rep. Joey Sarte Salceda of Albay said the resilience in revenue efforts should prod government to “go big” with a stimulus package to increase consumption.

The House Committee on Ways and Means on Monday said the revenue effort of the national government remains resilient despite Covid-19 pandemic.

In a presentation on the country’s fiscal status, Salceda said the Bureau of Internal Revenue (BIR) outperformed its target by P213.84 billion or 12.68 percent in excess of the revised Development Budget Coordinating Committee (DBCC) target of P1.685 trillion for the year. Meanwhile, the Bureau of Customs (BOC)

outperformed its revised target by P32.55 billion or 6.49 percent above DBCC target of P501.33 billion, the lawmaker said.

Salceda said last year’s deficit was also P444-billion smaller than anticipated by the DBCC in July 2020.

“This means we have the fiscal space for more lifeline relief during this critical period. We are probably bound for small, localized lockdowns during this second wave; that will delay economic recovery,” Salceda added. “So we need to be open to

more relief in the meantime. Once the economy reopens, let’s go big with a stimulus package that will pump-prime consumption.”

The lawmaker explained that “unlike in previous crises, the national government’s revenue effort did not collapse this time, even with the deadline extensions and other tax relief that we gave.”

“Revenue effort remained very strong, only slightly declining from 16.08 percent in 2019, one of the highest ever, to 15.89 percent in 2020,” Salceda said. “Tax reforms passed by this committee form the foundation of our strongest revenue performance during any recent global crisis.”

According to the lawmaker, revenue effort is the amount of national government revenues collected during a fiscal year over the same year’s gross domestic product (GDP). “[We’ve seen the] first major economic crisis where the country’s revenue effort did not collapse massively.”

With this, Salceda credited the “close relationship between” fiscal

administration, including the Department of Finance, the BIR, the BoC, government-owned and -controlled corporations and Congress.

But Salceda, also co-chairman of the Economic Stimulus and Recovery Cluster of the House to Defeat Covid-19 Committee, said pursuing the rest of tax reform remains urgent.

According to Salceda, major tax proposals, which have already passed by the ways and means committee, will give the government P669.2 billion additional revenue in five years.

These tax reforms include the motor vehicles user’s charge, taxes on Philippine Offshore Gaming Operators or Pogos, value-added tax on digital service providers, mining fiscal regime, offsite betting on locally-licensed games and tax administration efficiency due to ease of paying taxes.

“Tax reforms are the foundation of our fiscal strength,” Salceda said.

“Our children and grand-childen will have government revenues for their time, because we invested in good tax policy.”

Taxing single-use plastic seen to raise ₧4.8B annually

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HE House Committee on Ways and Means on Monday endorsed for plenary approval the substitute bill imposing excise tax on single-use plastic.

Albay Rep. Joey Sarte Salceda, the panel chairman, said the proposal will provide the government an additional P4.8 billion annual revenue.

According to Salceda, the revenue from this proposal would help fund the government’s solid waste management programs under the Ecological Solid Waste Management Act of 2000.

“This is to recommend an excise tax on single-use plastic bags in the interest of environmental and health protection and to outline potential

methods by which the excise tax can be administered,” Salceda said.

The bill will add a new section designated as Section 150-C of the National Internal Revenue Code of 1997. Under the new section, an excise tax in the amount of P20 shall be imposed for every kilogram of plastic bag removed from the place of production or released from the custody of the Bureau of Customs.

The bill defines the plastic bag as secondary-level plastic made of synthetic or semi-synthetic organic polymer, commonly known as “labo” or “sando” bags, with or without handle, used as packaging for goods or products.

The principal author of the bill,

BAP highlights support to banks amid crises

T

HE Bankers Association of the Philippines (BAP) gave itself a pat in the back as it highlighted the group’s support to the banking industry in light of the economic and health crises. “[The year] 2020 is a year navigating through unchartered territories. The Covid-19 crisis is unlike anything we have faced before,” BAP Managing Director Benjamin P. Castillo said during BAP’s Annual Membership Meeting last March 15. “It is during these times that we have further demonstrated BAP’s unparalleled support to the banking industry and its members.

This will remain a reality for a long time.”

The BAP cited its assistance in the development of important laws to guide the Philippine economy into recovery. The association said it worked with Congress on the creation of the Bayanihan to Heal as One Act (Bayanihan I), Bayanihan to Recover as One Act (Bayanihan II) and the Financial Institutions Strategic Transfer (FIST) Act. Outgoing BAP President and Chairman Cezar P. Consing noted their inputs were incorporated in the Bayanihan I and II, Fist and AMLA [anti-money laundering] bills which were signed into law, and the Agri-Agra, Guide [Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery], the Philippine Deposit Insurance Corp. Charter Change and the Bank Secrecy bills that “now await further deliberation in Congress.”

BAP member banks elected Philippine National Bank President and CEO Jose Arnulfo A. Veloso as the new president during the meeting. Veloso, who succeeds Consing, is set to continue the association’s success in promoting the banking industry’s welfare.

Consing said the BAP also provided strategic inputs to and collaborated with the Bangko Sentral ng Pilipinas on regulations that will have a significant impact on the industry, such as the proposed creation of the “open finance framework” as well as

House Committee on Ways and Means Vice Chairman Estrellita B. Suansing of Nueva Ecija, said the proposal seeks to encourage “the exploration and utilization of environment-friendly alternatives to single-use plastic bags.”

Suansing said revenues from this proposal could be used to finance programs and projects to counter the harmful effects of plastic pollution in the country.

“It is a known fact that plastic bags contaminate soil and waterways.

Based on available data, 4 trillion to 5 trillion plastic bags are utilized worldwide each year; and billions of these end up as litter,” she said.

“These are, likewise, toxic to both

the creation of a separate license for digital banks.

“Now, more than ever, the BAP intensified its fight against cybercrime by enhancing education campaigns to the general public and skills training sessions to bank personnel as cases of cyber fraud increased during the pandemic,” the BAP statement read.

“Tough times bring out the best in good organizations,” Consing said. “Given the unique challenges of the past year, the quality, intensity, and output of the BAP’s engagement with regulators, lawmakers and our many other publics uphold this truth.”

Saying he is “very honored” to be elected as BAP president, Veloso said he looks forward “to collaborating with the government to support their efforts and look for ways to speed up the recovery of the economy.”

“We will work with the government, its lawmakers and our regulators especially in building, enhancing or amending banking laws and regulations to help promote economic activity safely,” the new BAP president said.

Other new officers who were also elected were: Land Bank of the Philippines President and CEO Cecilia C. Borromeo (First Vice President); ING Bank Country Manager and Head of Clients Hans B. Sicat (Second Vice President); UnionBank President and CEO Edwin R. Bautista (Treasurer); and, Security Bank Corp. President and CEO Sanjiv Vohra (Secretary).

“Today, we turn over the leadership of the BAP to a new board and a new set of officers.

I know we will be in very good hands,” Consing said in his remarks. “The role of leading the BAP is both an honor and a gift, and one that I am grateful to have had.” The BAP, established in 1949, is the lead organization of universal and commercial banks in the Philippines. It consists of 45 member banks, 21 of which are local banks and 24 are foreign bank branches. Tyrone Jasper C. Piad

humans and animals, especially, when accidentally ingested. Plastic marine debris have been documented to harm at least 267 species, among which are sea turtles and dolphins,” Suansing added.

Earlier, Philippine Plastics Industry Association Inc. (PPIA) President Willy Go told lawmakers the proposal “will hurt and eventually ‘kill’ the industry.”

Go said members of the industry are currently facing the negative impact of local ordinances banning the use of plastic bag in their areas.

Several local government units have already issued ordinances against the single-use plastic bags.

Jovee Marie N. Dela Cruz

Loonie outperforming all peers, may move up

T

HE Canadian dollar is outperforming all of its major peers this year and several analysts see room for more gains as the economic recovery picks up, bolstering speculation about reduced stimulus.

Data showing stronger-thanexpected job growth in February provided the impetus for the loonie to climb to a 3-year high on Friday, even as the US currency rose against the majority of its global peers on the back of surging Treasury yields. The Canadian dollar has eked out an advance of about 2 percent so far in 2021, the most among 31 major currencies tracked by Bloomberg against the greenback.

Strategists see the potential for more gains as a stronger economy makes it more likely that the Bank of Canada will taper its asset purchases. While the central bank maintained its policy rate this month and signaled it won’t change it until 2023, bets on a stimulus reduction have grown.

The Bank of Canada might “feel the pressure” to deliver tapering at its April decision, analysts at ING Bank NV including Chris Turner wrote. “Signs of materially rising inflation may see investors starting to doubt the BOC 2023 forward guidance, and possibly add some pressure to Canadian front-end rates.

All this may help the Canadian dollar weather some fresh US$ strength.”

Amid Friday’s price surge, TD Securities exited its short New

Zealand dollar-versus-loonie trade, with a profit of 2.48 percent. It still favors the Canadian dollar on the crosses and remains short the euro versus the loonie.

For Erik Nelson, a strategist at Wells Fargo, there’s been a recovery in risk sentiment, which is a “key factor of support” for the Canadian currency. He expects it to continue outperforming against most of its Group-of-10 peers.

The loonie has also been far less susceptible to rising US yields because Canadian rates still hold a premium to their American counterparts through the intermediate part of the curve, Scotiabank strategists Shaun Osborne and Juan Manuel Herrera wrote in a Friday note.

The 10-year spread remains in favor of the dollar, but the gap has tightened.

This dynamic means that the US-Canadian dollar exchange rate could “come under additional pressure,” said Bipan Rai, head of foreign-exchange strategy at the Canadian Imperial Bank of Commerce. Crude prices also remain “somewhat firm,” providing another tailwind for the Canadian currency.

The Federal Reserve’s policy decision on March 17 may present a risk to the upbeat outlook for the loonie. Should the Fed bring forward its expected liftoff timeline, that would spark a selloff in rates, supporting the dollar against most currencies, Rai said. Bloomberg News

B4

Art

BusinessMirror

Tuesday, March 16, 2021 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

A sequel, an introspection, a deconstruction, a merger: A quartet of varied styles CLOCKWISE: Better Days #1, Meneline Wong, MD, 2021, acrylic on canvas, 36”x48”; Conflict, Sal Ponce Enrile, mixed media on canvas, 54”x40”; Cup, AADA, 2019, acrylic on canvas, 48”x48”; Mid-day Skyscape, Aner Sebastian, 2021, acrylic on canvas, 33”x24”

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Joel Embiid, 27; Judah Friedlander, 52; Lauren Graham, 54; Victor Garber, 72.

Happy Birthday: Share your thoughts and feelings with someone you trust, and you’ll find it easier to shape your plans to fit the lifestyle you want to live. A positive approach to life, love and happiness will encourage others to pitch in and help you reach your goals. Mark each milestone you accomplish with a reward, and it will give you the incentive to surpass your expectations.

Your numbers are 4, 10, 23, 28, 36, 41, 47.

a

ARIES (March 21-April 19): Keep marching forward, and don’t stop until you reach your destination. Progress takes discipline, fortitude and courage, but the result will be worth the blood, sweat and tears it takes to make your dreams come true. HHH

b

TAURUS (April 20-May 20): Emotions will confuse you if you let them take over. Be realistic, and you’ll avoid getting caught in a no-win situation. Be willing to compromise, and you will simplify your life and find the happiness and satisfaction you desire. HHH

F

OUR one-man shows comprise the latest exhibition lineup of Art Elaan, featuring artists who have distinguished themselves in their own artistic expressions. The foursome of solos opened on Friday and are on view until the end of the month.

‘Better Days’ by Meneline Wong, MD THERE is palpable tension in the fluid art of Meneline Wong. Frozen in mid-flow but somehow more animated in stillness, her waves of colors display the dichotomic duel between the ideas of chaos and control, of power and surrender. However, in the artist’s new solo exhibition, titled Brighter Days, there exists only harmony.

Wong, a practicing medical doctor, expresses a message of inspiration that despite the overriding sense of dread brought about by the global health crisis, there is light at the end of the tunnel. Brighter Days serves as a sequel to the artist’s previous solo, In Moments Like These, which ran a week after the end of the world’s longest and strictest Covid-19 lockdown last year.

From attempting to process on the canvas the emotions that dominated that disconcerting stretch, the artist now aims to instill a sense of assurance through pieces that feature Pantone’s Color of the Year 2021, gray and yellow. Pantone 175104 Ultimate Gray + Pantone 13-0647 Illuminating are billed as “a marriage of color conveying a message of strength and hopefulness that is both enduring and uplifting.”

The theme is on full display in Better Days #1, where Wong lulls the audience to a state of calm, allaying fears and fostering hope. Meanwhile, On Eagle’s Wings exhibits more action with striking hues, but the message remains the same: We have to keep on looking forward to brighter days.

‘Transformation’ by Sal Ponce Enrile IN her new solo exhibition, titled Transformation, Sal Ponce Enrile introspects about her artistic journey.

She discovered her touch at a young age and drew

c

GEMINI (May 21-June 20): Sort through information, go over details carefully, look for discrepancies and make adjustments. Keep your guard up when dealing with people who talk big, expect a lot and offer little. HHH

d

CANCER (June 21-July 22): Pay attention to detail, but don’t lose sight of your deadline.

Working quickly and finishing on time is as important as the effort you put into anything you pursue.

Leave time for personal pleasures, and it will make what you accomplish sweeter. HHHH

e

LEO (July 23-Aug. 22): Learn from the experience, and you will find new opportunities to fill any void you are feeling.

Put your energy into self-improvement and a realistic plan, not revenge or indulgent behavior. HH

f

VIRGO (Aug. 23-Sept. 22): It’s up to you to bring about change. Don’t wait for someone to push you in a direction that benefits them more than you. Take control and embrace what you feel passionate about, and you will meet people who share your concerns. HHHHH

g

LIBRA (Sept. 23-Oct. 22): Research, educate and delve into something that makes you feel passionate. Emotional spending and joint ventures will not turn out as planned. You’ll be misled by someone who lacks integrity and wants to take advantage of you emotionally or financially. HHH

everything to her heart’s content. After serving two full terms in public office, Enrile returned to painting full-time and had her artworks exhibited all over the world.

The artist expresses herself through different genres, building a rich oeuvre that continues to evolve. In Transformation, Enrile showcases her growth by presenting pieces created over the years. Such is the case in Conflict and Plummet, where, juxtaposed to one another, the time that separates the two pieces outline a picture of maturity.

The featured artworks vary in style but are united in the use of jazzy colors. It’s as if to advance the idea that in spite of any transformation we take,

something, somehow within us will always remain the same.

‘Alluminate’ by AADA (Ali Alejandro) AADA challenges the manner by which the human mind comprehends subjects in Alluminate.

We almost always arrive at apperception by breaking down subjects into rudiments. But once these are skewed or altered in any way, shape, or form, will these identifiers still be distinguishable? Or will the subject transcend to a more abstract form devoid of representation?

Continued on B5

Araneta City features female Covid-19 warriors in mall exhibit ON International Women’s Day on March 8, Araneta City launched a public exhibit that paid tribute to some outstanding female Covid-19 warriors in the country.

The City of Firsts opened an exhibit at the activity area of Gateway Mall that commemorated 17 Filipina health workers who bravely faced the war against the pandemic. These modern-day female heroes were given recognition through portraits done by artists Aurelio Castro III, Tessa Punzalan-Brodeth and Lupiciano Ng.

Present during the unveiling of the exhibit were Castro and Punzalan-Brodeth, along with Araneta City assistant vice president for marketing Marjorie Go and J. Amado Araneta Foundation executive director Diane Romero.

“The Covid-19 pandemic may have disrupted our normal daily lives, and even caused fear and endangered lives. But there still are courageous individuals—like the female health workers we are featuring in this exhibit—who chose to give service

despite the dangers. Some of them survived, some of them perished. And we are recognizing them all by sharing their stories to the public through this very special exhibition,” Go said. Included in the exhibit were portraits of 12 physicians, nurses, and two community health workers who faced the threats of Covid-19 while doing their work. Out of these exemplary women, only two women—both doctors—have survived.

The exhibit, which ran until March 15, kicked off Araneta City’s lineup of events for

International Women’s Month. For 2021, the City of Firsts adopts the theme “Challenge Accepted,” a response to the worldwide International Women’s Day theme #ChooseToChallenge.

“There is so much work to be done for the Filipino women. Stereotypes need to be broken, policies have to be made, more seats in leadership should be filled to achieve equality for sustainable development. It is up to us to accept the challenge for our future,” Romero said.

h

SCORPIO (Oct. 23-Nov. 21): Gravitate toward the things you know are possible, what you enjoy doing and the people who share your interests and have something to contribute to your long-term plans. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Listen, but don’t participate in something you don’t want to pursue. Problems at home will surface if tempers take over and distance you from someone you love. Keep the peace, but don’t lower your standards or do something you’ll regret. HHHHH

j

CAPRICORN (Dec. 22-Jan. 19): Someone who opposes the changes you are initiating will question you. Don’t get into an argument over something that isn’t going to matter as you move forward. Follow your heart, and be responsible for your future and happiness. HH

k

AQUARIUS (Jan. 20-Feb. 18): Let your intuition lead the way, and you’ll find a way to use your skills and knowledge to your advantage. Reinventing the way you market yourself will make a difference when you are job hunting or looking to make new connections. HHHH

l

PISCES (Feb. 19-March 20): Incorporate something you enjoy doing into your daily routine. Educational pursuits that help you head in the direction that offers higher income potential are favored. HHHH Birthday Baby: You are caring, intense and emotional.

You are impatient and trendy.

‘nosy pun intended’ by jeffrey wechsler The Universal Crossword/Edited by David Steinberg

ACROSS 1 Title for Marie Curie 7 US Women’s Open org.

11 Frank’s companion?

14 “Awake” singer Josh 15 Actor Rickman 16 A Box of Smile artist Yoko 17 Quaint address for a noble 18 Departs in a huff, say 20 High rollers’ dice game?

22 Irritating sort 24 Lime’s exterior 25 Soft shoe leather 26 Boxing legend Laila 27 Anger 28 Lengthy lunches and frequent breaks, for a certain guy negotiating his contract?

36 Contemptuous expressions 37 Ballet support?

40 Specialized employees at a flower shop?

44 Suffix for “puppet” 45 Munch on

6 Jell-O ___ (colorful party offerings) 4 51 Venture out to sea 53 Fitzgerald of jazz 54 Extraordinary ski trip, e.g.?

57 Single example 58 Nike competitor 61 Little one 62 Shape on Texas’ state flag 63 Concluding episode 64 Store door data: Abbr.

65 Females that may be free-range 66 Noticed in, as a given place DOWN 1 ___ Grand (hotel with a lion statue) 2 Name within “Paris” 3 Like Barbie Dreamhouse furniture 4 Approximately 5 Classic comedy’s ___ Brothers 6 Turn out to be 7 Legal drama roles 8 Short dramatic offering 9 Fund-raising event, perhaps 10 Egyptian symbols of life 11 Hard liquor

2 Needing nourishment 1 13 Without a charge 19 Name that sounds like a hearty dish 21 Stallion controller 22 Buddies 23 Flair 29 Pro vote 30 Med. diagnostic procedure 31 Animal in the horse family 32 Recede 33 Brazilian carnival city, informally 34 Supermarket VIP: Abbr.

35 “Aja” group 38 Mouth-related 39 This, in Madrid 41 “That’s well within my abilities!”

42 Horseshoes that may rest against the stake 43 Like much of Libya’s climate 46 One working with an anvil 47 “Duty, ___, Country” (West Point motto) 48 Removes from power 49 Mining explosive

50 Private store 52 Is unproductive 53 Online reading material 55 A few chips, maybe 56 Garfield character with yellow fur 59 Chicken ___ king 60 Word after “chess” or “china”

Solution to Friday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

gabby concepcion

• Tuesday, March 16, 2021

B5

sanya lopez

Modern fairy tale unfolds on GMA’s romantic-comedy series ‘First Yaya’

beyoncé

bruno mars

taylor swift

Who run the Grammys? Beyoncé, Taylor Swift make history

N

By Mesfin Fekadu The Associated Press

EW YORK—The Grammys are drunk in love with Beyoncé and Taylor Swift: the singers both made history at the 2021 show. Swift, 31, became first woman to win album of the year three times.

“We just want to thank the fans,” said Swift, who won the top prize with folklore. Swift previously won album of the year with her albums Fearless and 1989.

Beyoncé made history by surpassing Alison Krauss to become the most decorated female act in Grammy history.

Beyoncé earned her 28th Grammy on Sunday, picking up honors like best R&B performance for “Black Parade,” best music video for “Brown Skin Girl” as well as best rap performance and best rap song for “Savage,” with Megan Thee Stallion.

“As an artist I believe it’s my job, and all of our jobs, to reflect time and it’s been such a difficult time,” Beyoncé said onstage as she won best R&B performance for “Black Parade,” which was released on Juneteenth.

She went on to say she created the song to honor the “beautiful Black kings and queens” in the world.

She added: “I have been working my whole life...

This is such a magical night.”

Beyoncé is now tied with producer and multiinstrumentalist Quincy Jones for the second most

A sequel, an introspection, a deconstruction, a merger: A quartet of varied styles

Grammy wins. The late conductor Georg Solti is the most decorated Grammy winner with 31 wins.

The royal family of music all won honors Sunday: Jay-Z shared the best rap song win since he co-\wrote “Savage” and nine-year-old Blue Ivy Carter—who won best music video alongside her mother—became the second youngest act to win a Grammy in show’s 63-year history. Leah Peasall was 8 when The Peasall Sisters won album of the year at the 2002 show for their appearance on the T Bone Burnett-produced O Brother, Where Art Thou? soundtrack.

Megan Thee Stallion, who won three honors, also made history and became the first female rapper to win best rap song. She’s also the fifth rap-based act to win best new artist.

Beyoncé was the night’s top contender with nine nominations, and she’s still up for record of the year, where she’s a double nominee thanks to “Black Parade” and “Savage.”

Beyoncé didn’t perform but Swift did. She sang “cardigan” and “august” from folklore, as well as “willow” from evermore, and was joined by the collaborators who helped her make the albums, Jack Antonoff and Aaron Dessner, who both won album of the year with Swift. Silk Sonic, aka Bruno Mars and Anderson Paak, also performed, bringing a throwback R&B vibe to the show with their smooth new single, “Leave the Door Open.” Dua Lipa, who won best pop vocal album, proved her pop star status with a performance of her hits “Don’t Start Now” and

“Levitating,” where she was joined by the DaBaby, who was an all-star during his own performance of his guitar-tinged rap hit “Rockstar,” flipping the song for an exceptional live rendition featuring R&B singer Anthony Hamilton, a skilled violinist and background singers. And country singer Mickey Guyton—the first Black female nominated for best country solo performance—gave an impressive performance of her song “Black Like Me.” Other performers included Billie Eilish, Cardi B, Bad Bunny, Miranda Lambert, Maren Morris and Harry Styles, who won best pop solo performance for the hit “Watermelon Sugar.”

“To everyone who made this record with me, thank you so much,” said Styles, the first member of One Direction to win a Grammy.

Host Trevor Noah kicked off the show telling jokes about the coronavirus pandemic and the year that was 2020. He was live from downtown Los Angeles, with attendees wearing masks and sitting, socially distanced, at small round tables.

R&B singer H.E.R. won two honors, including song of the year for her protest anthem “I Can’t Breathe,” becoming one of the rare R&B songs to win the top prize. Another track about the Black experience—Anderson Paak’s “Lockdown,” released on Juneteenth—also won a Grammy, picking up best melodic rap performance.

Other double winners include Fiona Apple, Kaytranada and late performers John Prine and Chick Corea. n

Premiering yesterday, March 15, is GMA’s new prime-time series, the romantic-comedy series First Yaya, which tells the aspirational story of an ordinary woman who gets to lead an extraordinary life as the nanny of the President’s children and, along the way, falls for the country’s highest public official.

The original drama introduces the new pairing of award-winning actor Gabby Concepcion as President Glenn Acosta and Sanya Lopez as Yaya Melody.

Lopez, who has showcased her impressive acting chops in wide-ranging roles, shares how she approached the role of Yaya Melody: “Bago kasi sa akin ang rom-com, si Direk LA [Madridejos] ang nag-introduce sa akin kung paano siya atakihin at may movies na pinapanood niya para makatulong sa akin. Pero sinabi nga sa akin ni Direk LA, ‘Maging ikaw lang, kahit wala ka ng ibang gagayahin, ‘wag kang umarte at ikaw na si Yaya Melody.”

Playing an important role in the prime-time soap is seasoned actress Pilar Pilapil as Blesilda Acosta, Glenn’s wealthy and doting mother who will stop at nothing to make sure her son becomes the most powerful man in the country.

Set to make their love team debut in their very first drama series together are Cassy Legaspi as Nina Acosta, the rebellious and eldest daughter of the President who initially rejects Yaya Melody; and promising actor Joaquin Domagoso as Jonas, a student activist and critic of President Glenn who unintentionally falls for Nina.

Also starring are Gardo Versoza, Sandy Andolong, Buboy Garovillo, Maxine Medina, Kakai Bautista, Cai Cortez, Analyn Barro, Thou Reyes, Anjo Damiles, Hailey Mendes, Jerrick Dolormente, Patricia Coma, Clarence Delgado, Thia Thomalla, Jon Lucas, and Glenda Garcia.

First Yaya also features the special participation of Boots Anson-Roa and Jean Garcia.

Completing the all-star cast with special guest roles are Andre Paras, Allen Dizon, Frances Makil-Ignacio, Tommy Abuel, Kiel Rodriguez, Mikoy Morales, Issa Litton, Lovely Rivero, Jenzel Angeles, Murielle Lomadilla, Wilma Doesnt, Atak, Cecile Paz, Michael Roy, Dennis Marasigan, Rollie Inocencio, Nicki Morena, Julius Miguel, Isabel Frial, Chinggay Datu, and Lourdes Conde Serrano.

The original series is created by the GMA Entertainment Group, headed by SVP for Entertainment Group Lilybeth G. Rasonable. The drama showcases the famous and historic The Manila Hotel as one of its taping locations.

First Yaya airs weeknights at GMA, with LA Madridejos as director and Rechie del Carmen as associate director. Viewers abroad can watch the series via GMA’s flagship international channel, GMA Pinoy TV. More information can be found at www.gmapinoytv.com.

SB19 stays on top with release of new song P-POP group SB19

Continued from B4 The foil series showcased in the exhibition represent a balancing act between consonance and dissonance. The artworks dances along the demarcation of the two ideas by playing with refraction. AADA captures the effect by painting foil onto a suggested object, such as in Cup, or by its crumpled lonesome, such as in Refraction.

‘Earth & Sky’ by Aner Sebastian THE church of Aner Sebastian opens anew for his new solo, Earth & Sky. It’s an apt title for an exhibition of an artist who has distinguished himself with kaleidoscopic paintings that seem to bridge the two realms.

Through his signature fragmented abstraction, Sebastian’s artworks call to mind stained glass windows of significant religious structures in past centuries, combining modern flair and a stunning play of angles and details.

Presented in the show are the artist’s reimagination of sceneries (Mid-day Skyscape) and abstractions (Déjà vu). n

Reaching more than 2 million views in less than 48 hours after its official release, the new music video of phenomenal P-Pop group SB19 is certainly causing huge ripples in the music world.

Titled “What?,” the music video of the new song features Josh, Ken, Justin, Stell and Pablo at their best, dressed in the most amazing costumes—singing, rapping and dancing to the wonderful song, produced by the wonderful team of John Paulo Nase, Simon Servida, Joshua Danile Nase and Jay Durias.

Pablo, who is also credited as writer of the new song, had a major image transformation prior to the release of the single. He shared that it is all about love for oneself, empowerment, and an affirmation to continuously reach for anything that we aspire to be.

“We are aware that a lot of people still doubt us, still look down on us, denouncing everything that we do and everything that we are trying to achieve. We love what we do, and the reason why we do it always with love and respect.”

He continued: “Each of us carries our own flag, and we wave our flags that way we deem right, raising it as best as we can. As a group and as individuals, we are

aware that we cannot be the best at everything, and there are always those who are better, but it shouldn’t stop us from reaching our goals, working on our improvement, and fulfilling our dreams.”

The song, with most of the lyrics in the Filipino language, is a fusion of hip-hop, rap, rock and electronic dance music. The message of the song is also very personal as the group aims to send inspiring messages of resiliency, steadfastness, courage and determination by being who we are while continuously striving to be who we want to be.

We are singling out the styling team behind the music video because the SB19 members looked at par with international performance artists.

Mark Ranque is credited as the head stylist with a formidable team that included James de Vera, Micho Dacasin and Carl Cahutay. MJ Rone did a wonderful job with the hair of the boys, and Donald Lapez was

consistent with his makeup skills transforming the boys into A-listers. We also have to commend production designers Aisne Bucsit and Aisa Sta. Maria for the many wonderful details we saw in the more than five-minute video.

Under the amazing leadership of ShowBT Philippines’s big boss Charles Kim, SB19 continues to evolve as a boy band and it is in a league all its own, despite the emergence of new groups that have followed but are incomparable to SB19’s strength in vocals, musicality, originality and showmanship.

There is no doubt that when that time comes and the whole world is back to normal again, and the citizens of the world have contained and kept the dreadful virus in control from further spreading, SB 19 will continue to carry the flag for the Philippines in the world music circuit.

We bet SB19 will stay on top for a long, long time.

B6 Tuesday, March 16, 2021

CCP offers one-stop-shop for online art experience

Allianz PNB Life calls on motorists to support bike safety and green mobility

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RUE to its mission to reach wider audiences, the Cultural Center of the Philippines embarks on a digital journey and brings arts closer through the CCP Channel, an online streaming platform featuring new online productions and curated archival documentation from the CCP Digital Archives.

Launched last March 6, 2021, the CCP Channel provides artists with viable platforms for new developments in online performances and gives viewers a unique learning experience that will help them to appreciate and learn more about Philippine art and culture.

Spanning across Facebook, YouTube, and Vimeo, the art and culture channel offers audiences of all ages a wide variety of timely and curated online content that will be offered to them over the year. The curation of content will focus on the educational, inspirational, and beneficial themes that contribute to the social and mental well-being of the viewers.

Expect high-definition video coverage of selected CCP productions, made-for-video performances, selected archival video documentation from the archives, and video selection showcasing curated and specific themes.

It has several main channel sections - the CCP Channel

From The Archives, the CCP Channel Themed Showcases, the CCP Channel HD Premieres, and the CCP Arthouse Cinema Online.

Specially selected production documentations from the CCP Digital Archives will be premiered under the CCP Channel Curated Features, offering viewers a unique opportunity to gaze into the Cultural Center’s rich history of artistic performance.

Aiming to be supplemental to art education and vital for art appreciation, the CCP Themed showcases will break through in the CCP Channel Vimeo, featuring curated production documentations from the CCP Digital Archives.

CCP Channel HD Premieres, meanwhile, is a section dedicated to the CCP’s newest productions which will premiere online for the audiences. Artistic excellence takes the helm as new and experimental ways of performance are explored in this new platform.

The CCP Arthouse Cinema Online is housed in the CCP Channel Vimeo, with monthly themed screenings of local and international films. Members of the CCP Film Society have access to exclusive screenings and early access to the selected films.

Taking care of your enduthelium with Sulodexide

GRENZ and Riola stand with San Juan City Mayor Francis Zamora and First Lady Keri Zamora at the blessing of the pit stop and the city's initiative of bike share program.

A

S the need for social distancing forces governments around the world to reduce public transportation services, many have turned to bikes instead. In the Philippines, the uptick of bike users is even more notable not just because it has one of the highest coronavirus caseloads in Asia, but also because it has some of the region’s tightest urban congestion.

Despite the increased ubiquity of bikes due to the pandemic, Manila’s roads remain particularly hazardous for biking, in part because some drivers regard cyclists as obstacles. In fact, monitoring data from the Metropolitan Manila Development Authority indicated that bicycle accidents increased to 2,606 last year, compared to 1,759 during the previous year.

As part of its Ride Safe campaign, Allianz PNB Life is urging motorists to be more proactive participants in making the roads safer for bicycles.

“Ride Safe is a campaign in support of cycling for sustainable cities. As a global sustainability leader, Allianz launched this campaign to encourage more Filipinos to rekindle an interest in cycling, which promotes low-carbon emissions and safe, green transport,” said Allianz PNB Life President and CEO Alexander Grenz.

A road for all

DRIVERS sometimes feel that roads are for vehicles only, and that bicycles have no right to be there. Allianz PNB Life urges motorists to change this mindset, especially now that bikes are a lot more common due to necessity.

“We need to think of bike riders as equals who are just as entitled to the roadway as car drivers,” said Gino Riola, Chief Marketing Officer of Allianz PNB Life and a bike rider himself. “When we consider bikes as vehicles, we treat cyclists the same as motorists.”

One reason for the lack of awareness regarding road safety for cyclists is the absence of any law governing cycling and cycling safety standards. But with government officials working towards making the roads safer for bike riders, cars will be sharing the road with other modes of transport more safely than before.

According to Riola, a national law that promotes bike safety on the road is a very welcome change for the biking community, especially as more and more Filipinos now turn to bicycles for their daily commute.

Biking towards sustainability

GLOBALLY, Allianz has always been a staunch advocate of the environment

and has topped the Down Jones Sustainability Index from 2017 to 2019, making it one of the world’s most sustainable insurers. With its Ride Safe campaign, Allianz PNB Life looks to encourage more Filipinos to cycle as a means towards more sustainable and livable cities. Last year, Allianz provided the City of San Juan new protected onroad cycling facilities, such as bollards and safety signs, as well the country’s first solar-powered bike pitstop.

According to Allianz PNB Life, bike safety is an essential component of this mission. “The national bike law is a much-needed step towards not just creating bike-friendly roads and communities, but towards building more sustainable cities,” said Riola.

“After all, a bike lane isn’t just a bike lane that keeps riders safe, it’s also allowing people to switch to another mode of transport—to one that promotes health and doesn’t consume fuel.”

“Cars and bikes can co-exist. Other cities around the world have proven that,” said Riola. “What is needed is that motorists and bikers respect each other and the rules of the road are followed.”

If the many newly opened bike stores are any indication, bikes are here to stay. And that is good for drivers, the environment, and the community.

Tang Coco Plus Buko Pandan shakes up the beverage mart

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UMMER is here! Nothing makes us feel the excitement for summer like the refreshing taste of the Filipino favorite, Buko Pandan!

It reminds us of summer trips to the province or the beach, cooling off with a cold, delicious, and wholesome treat. While this summer might be less about travelling and more about staying at home or close by, there’s no reason for you to miss out on having your taste of Buko Pandan. Tang introduces a new flavor that’s shaking up the beverage market in the Philippines: Tang Coco Plus Buko Pandan, made with Magnesium and Iron.

Tang is the Philippines’ #1 powdered beverage drink, with 21 fruit flavors to meet your every craving for delicious refreshment. The brand is known for delivering on two things: Delicious refreshment and good nutrition with every glass.

As a leader in this segment, Tang is always looking for ways to delight and add excitement to meal and snack times with the family. These days, nutrition and wellbeing top the list of consumers’ needs for their food and drink preferences.

According to the 2020 State of Snacking Survey conducted by the Harris Poll on behalf of Tang’s parent company Mondelēz International, 69% of consumers in developing countries like the Philippines actively seek snacks that are immunity boosting, or those that help strengthen the body against diseases.

Mondelēz International is one of the world’s leading snack companies, with a 58-year history in the Philippines. The Company’s purpose is to empower people to snack right, with the right snack, for the right moment, and made the right way.

Using this insight from consumers, Tang sought to provide Moms with a new flavor that’s delicious PLUS is also a great meal partner thanks to the nutrients it contains: Magnesium and Iron. We all know that we sweat more during summer; and that when we sweat, we lose not only water but

also minerals such as Magnesium and Iron, among others. We need to make sure to replenish them, so we remain healthy and avoid getting sick. Even if it’s not summer though, we still need to make sure we get enough of these nutrients through the food we eat and the beverages we drink.

“The future is uncertain which is why parents play an important role in ensuring that their kids are prepared, no matter what will happen. Tang believes that by giving kids a drink they love PLUS the benefits that moms approve, we can prepare kids for the future,” says Carlo Isla, Beverage Category Manager of Tang. “With this, we are very excited to share Tang’s newest flavor, Tang Coco Plus Buko Pandan. It is the first and only one of its kind in the Philippines, a powdered beverage with Buko

Pandan flavor PLUS Magnesium and Iron. For only P17.50 you get the refreshing taste of Buko PLUS Pandan that’s good for family - PLUS it’s refreshing too. It is a fulfillment of our purpose as a company, to provide the right delicious drink, for the right moment this summer, and made the right way with good nutrition for your family.”

This new flavor is delicious and refreshing by itself, or enjoyed as a meal partner with the family, especially during these hot months up ahead. It has the taste of Buko Pandan that you have grown up with, and a PLUS of wholesome minerals. Enjoy it with lots of ice cubes or as an iced shake. Get creative and add a pandan leaf too for those great social media photos. Try the new Tang Coco Plus Buko Pandan by ordering on Lazada or Shopee now.

MEXICAN Dr. Alejandro Gonzalez- Ochoa (top left) is joined by Dr. Eugene Reyes and Dr. Elaine B. Alajar at the medical zoom about Sulodexide.

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TIME-TESTED oral drug that treats patients with thrombosis problems or blood clot tendencies, was recently discovered to be a potent medicine that cures early-to-moderate stage CoVid-19.

A November 2020 randomized clinical trial that was formalized this year, confirmed claims in early 2020 that Sulodexide can also be prescribed to patients with mild to moderate COVID cases.

A team of three doctors made the announcement during a virtual Educational Symposium about a timely and relevant topic: Advancing the Role of lGAGs in the Pandemic Era on March 13, 2021.

Dr. Alejandro Gonzalez- Ochoa, a vascular surgeon, who is also a professor and researcher is the main author of the Sulodexide Trial on Early Stage of COVID-19. He is the head of the Vascular-Endovascular Surgery, CLINEDEM, San Luis Rio Colorado, Sonora Mexico. With him at medical zoom were Dr. Eugene Reyes, a cardiologist, researcher and professor, and Dr. Elaine B. Alajar, a cardiologist and vascular medicine specialist Filipino Drs. Reyes and Alajar are affiliated with the UPPGH and Manila Doctors Hospital.

The drug’s generic name is Sulodexide while the brand name is VESSEL DUE-F. It has been available in European market since 1970’s. Manufactured in Italy and is available both in ampule and capsule preparation, it has been available in the Philippines since 2001 and is distributed by

Corbridge Group Philippines Inc. The landmark pandemic study showed that administering the drug to the particular set/case of patients prevented serious or irreversible Covid infection. It reduced hospitalization rate, reduced the need for supplemental oxygen, and also reduced D-dimer and CRP levels significantly vs placebo.

According to the doctors, it is unique, safe and reasonably cheap, the pill costs P54.00 locally. The dosage is 2 capsules in the morning and at bedtime.

According to the study, VeSsel-Due F drug prevents blood clot and protects and restores the function of the endothelium.

The endothelium is the tissue which forms a single layer of cells lining various organs and cavities of the body, especially the blood vessels, heart, and lymphatic vessels.

VeSsel-Due F is classified as antithrombotic drug, a unique Glycosaminoglycans (GAGs), that treats diseases of the blood vessels like — thrombosis, Chronic Venous Insufficiency, varicose veins, peripheral arterial disease; and diabetic complications such as diabetic nephropathy, retinopathy and diabetic foot.

In this study, it was concluded that the treatment of mildly to moderately SEVERE COVID-19 patients may be improved

by Sulodexide’s antithombotic effect without increasing the risk of bleeding. VeSsel-Due F may be an alternative to other oral anticoagulants due to its multiple antithrombotic pharmacological actions.

51Talk holds its 10 Years Certified Conference in China, highlights Filipino talent in the global English market

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T least 30,000 online English teachers in the Philippines use 51Talk to teach and earn at home through conducting live one-on-one lessons to learners in China.

51Talk Founder and CEO Jack Huang shares the milestones achieved by 51Talk through the years as well as his vision for the platform at its 10 Years Certified Conference 2021 in Beijing, China.

In his keynote address, Huang underscored the important role of Filipino teachers in delivering high-quality online English lessons to students.

“During the past decade, Filipino teachers have risen to become one of the most popular foreign teaching groups in China. As the online Education industry matures, Filipino teachers are expected to play a bigger role in the future, both for 51Talk and bilateral exchanges,” said Mr. Huang.

Through innovations using artificial intelligence (AI) technology, students at 51Talk will be able to interact with virtual teachers who will guide students with warm-up activities before hopping into the live classes.

51Talk Co-Founder and COO Liming Zhang, in his presentation, talked about the disruptive nature of the brand in the online Education industry and how Filipino teachers play a big role in the education cooperation between the Philippines and China.

“In the past 10 years, 51Talk has relentlessly promoted Filipino teachers here in China to make them understand that Filipinos are talented, passionate, and capable of teaching Chinese children.

They have become the backbone of China's foreign English education market. The charm of Filipino educators is very evident because other brands have now launched in

51TALK’S Academic Development Lead Lucy Qu the Philippines,” he added.

Mr. Zhang also shared that Filipino teachers and their students have formed a bond of friendship and mutual care through exchanging greetings and even gifts during holidays and family celebrations signaling a solid foundation for the education and cultural exchange between the two countries.

True mission of enabling everyone to speak to the world, 51Talk’s Academic Development Lead Lucy Qu discussed 51Talk’s new age educational innovations and forward-looking English educational products.

“51Talk has been committed to making English education products that understand children better. And at the core of the online English education system are Filipino teachers,” according to Ms. Qu. “51Talk’s AI pre-class is a flexible, convenient and a powerful learning tool before a live lesson. This will satisfy the learner’s language learning ability and stimulate their interest. The AI pre-class is one of our core highlights this year and it solves learning challenges by having a preclass before the teacher’s live one-on-one lesson,” added Ms. Qu.

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

The World BusinessMirror

Maryland governor says his family felt Asian prejudice

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ALTIMORE—The governor of the state of Maryland said on Sunday that his family has felt the effects of discrimination over the past year amid a wave of racism against Asian Americans during the coronavirus pandemic.

G o v. L a r r y Ho g a n’s w i fe, Yumi Hogan, is Korean American. Speaking to Jake Tapper on CNN’s “State of the Union,” the Republican governor called the attacks on Asian Americans “outrageous” and “unacceptable.”

“My w ife, my t hree d aughters, my g ra nd k id s, a l l A si a n, a nd t hey—t hey have felt some d i s c r i m i n a t i o n p e r s o n a l l y,” Hoga n sa id.

“We feel it personally with my daughter, who sort of is sometimes afraid to come visit us, with people who had best friends that were being harassed at the grocery store, or being called names, and people yelling about the China virus, even though they’re from Korea and born in America,” he added.

Hogan praised President Joe Biden for addressing the issue during his first prime-time address to the nation last week, when he condemned violent attacks against Asian Americans and called them “un-American.”

“It’s something we have to get under control. And I wish more people would be speaking out.

And I appreciate the president’s remarks,” Hogan said.

Also Sunday, New York Mayor Bill De Blasio acknowledged on

CBS’ “Face the Nation” that hate crimes against Asian Americans were occurring with troubling frequency in his city, calling them “horrendous and disgusting.”

Hogan also defended his decision to ease some restrictions aimed at curbing the spread of the virus after Tapper noted that health officials have asked governors to keep restrictions in place as the nation continues a slow process of vaccinating the population.

Citing downward trends in the number of new cases, hospitalizations and the positivity rate in Maryland, Hogan last week lifted capacity limits on restaurants, bars and most other businesses statewide, while allowing large venues to reopen at half capacity.

“We didn’t lift restrictions.

We did raise capacity limits, but we kept the most serious mitigation measures in place, which is masking and distancing, which many states have changed. We did not,” Hogan said.

“I think we took a kind of a balanced approach that’s trying to continue to keep people safe, but also try to get some folks back to work and help support some of our small businesses.”

Tapper also asked Hogan if he blames former President Donald Trump for hesitancy among his supporters to get the vaccine.

“Well, I think he certainly didn’t help any with his messaging...on masking and not speaking out strongly enough on the vaccines,” Hogan said. AP

China slams UK, says it has no right to supervise Hong Kong

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hina accused the UK of “groundless slanders” after the British government said Beijing’s crackdown on dissent in Hong Kong wasn’t in compliance with a treaty that paved the way for the city’s return to Chinese control.

“The UK has no sovereignty, jurisdiction or right of ‘supervision’ over Hong Kong after the handover, and it has no so-called ‘obligations’ to Hong Kong citizens,” China said in a statement posted Sunday on the web site of its London embassy. “No foreign country or organization has the right to take the Joint Declaration as an excuse to interfere in Hong Kong affairs, which are China’s internal affairs.”

The statement came after UK Foreign Secretary Dominic Raab on Saturday said China is in a “state of ongoing non-compliance” with the 1984 treaty that paved the way for Hong Kong’s return to Chinese control. His remarks have gone further than previous comments by the UK, which had called the changes a breach in the declaration.

In recent days, Chinese lawmakers approved an overhaul of the city’s election system that threatens to stack its legislature with pro-Beijing loyalists. The move was the culmination of a series of steps to curb challenges to Chinese rule, including passage of a national security law that led to the arrest of dozens of democracy activists and prompted many to flee the city.

The election overhaul “is part of a pattern designed to harass and stifle all voices critical of China’s policies and is the third breach of the Joint Declaration in less than nine months,” Raab said. The UK decision was a “demonstration of the growing gulf between Beijing’s promises and its actions.”

The statement gave no indication of what the UK government would do if China doesn’t return to compliance with the Joint Declaration.

“The UK will continue to stand up for the people of Hong Kong,” Raab said. “China must act in accordance with its legal obligations and respect fundamental rights and freedoms in Hong Kong.”

China fired back in a 500-word statement asserting its control over the city. “Hong Kong is a special

administrative region of China,” it said. “How to design and improve its electoral system is purely China’s internal affair and brooks no external interference.”

There was little London could do aside from voicing its displeasure, said Tim Summers, an assistant professor specializing in UK-China relations at the Chinese University of Hong Kong.

“The UK does not have any leverage to do much more,” he said.

“There is no chance that Beijing is going to change course on the electoral reforms in Hong Kong because of the views of Western governments.”

China’s Hong Kong and Macau Affairs Office also responded to a statement by the Group of Seven nations that expressed “grave concerns” at the changes in the city’s electoral system.

The G7 statement “distorts facts and makes irresponsible comments,” which are in violation of the international law and the norms of international relations, the Hong Kong and Macau Affairs Office said Sunday, calling it a “gross interference” in internal affairs.

Hong Kong was a British colony for more than 150 years until its return to China in 1997 after the two countries signed the Joint Declaration. The agreement gave control back to China in return for the city maintaining a “high degree” of autonomy. Yet under President Xi Jinping, China has moved to tighten its grip on the city; the crackdown accelerated after massive prodemocracy demonstrations broke out in 2019.

After passage of the national security law, the UK responded by offering a path to British citizenship for eligible Hong Kong residents.

C h i n a’s overh au l of Hong Kong’s legislature will give Beijing virtual veto power in the selection of the city’s leaders. China said the national security law was necessary to punish acts of secession, subversion of state power, terrorist activities or collusion with foreign entities. Dozens of opposition figures, including media tycoon Jimmy Lai and former student leader Joshua Wong, have been jailed under the law.

Bloomberg News

Tuesday, March 16, 2021

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Martial law imposed in largest Myanmar city; 38 people killed

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ANGON, Myanmar— Myanmar’s ruling junta has declared martial law in parts of the country’s largest city as security forces killed more protesters in an increasingly lethal crackdown on resistance to last month’s military coup.

At least 38 people were killed Sunday and dozens were injured in one of the deadliest days of the crackdown, according to the Assistance Association for Political Prisoners, an independent group tracking the toll of the violence.

Most of those killed—34— were in Yangon, where two townships, Hlaing Thar Yar and neighboring Shwepyitha were being placed under martial law.

Video from Hlaing Thar Yar township showed people running away after gunfire was heard.

Those fleeing carried one injured person and tried to revive two others, one who seemed to be dead or dying, the footage from independent Democratic Voice of Burma showed.

Hlaing Thar Yar was the location of 22 civilian deaths Sunday, according to the aid group, which said more than a dozen civilians were wounded and described a large number of junta forces engaged in the township.

Since the takeover six weeks ago, Myanmar has been under a nationwide state of emergency, with its civilian leaders ousted and detained and military leaders in charge of all government.

But the announcement on state broadcaster MRTV late Sunday appeared to be the first use of the term martial law since the coup and suggested more direct military control of security, instead of local police.

The announcement said the State Administrative Council acted to enhance security and re-

store law and order and said the Yangon regional commander has been entrusted with administrative, judicial and military powers in the area under his command.

Four other deaths were reported in Bago, Mandalay, and the northern city of Hpakant in Kachin state, according to the aid group and local media.

In Yangon, video posted on social media showed crowds of people, some wearing hard hats and gas masks, running down a street amid sounds of gunfire. The demonstrators quickly sprayed vapor from fire extinguishers as they retreated—a tactic widely used to smother tear gas and create a vapor screen that makes it harder for police to pursue or shoot demonstrators.

There were also reports of injuries from live rounds and rubber bullets in other parts of Yangon, including Insein district, where billows of black smoke could be seen after security forces reportedly set roadblocks on fire.

In a new tactic, anti-coup demonstrators used the cover of darkness to hold mass candlelight vigils Saturday and Sunday nights in a Yangon commercial area that was usually the scene of their daytime protests. After-dark rallies were also held in Mandalay and elsewhere.

The protest movement has been grounded in non-violent civil disobedience from the start, with marches and general strikes among its main features. But some protesters have advocated

Anti-coup protesters surround an injured man in Hlaing Thar Yartownship in Yangon, Myanmar on March 14. A number of people were shot dead during protests in Myanmar’s largest city on Sunday, as security forces continued their violent crackdown against dissent following last month’s military coup. AP

stronger, more agile methods of self-defense—such as holding small rallies that are quick to disband and reunite, and devising cover from fire extinguishers and billowing laundry.

On Saturday, the civilian leader of Myanmar’s government in hiding vowed to continue supporting a “revolution” to oust the military leaders who seized power in the Feb. 1 coup. Mahn Win Khaing Than, who was named the acting vice president by Myanmar’s ousted lawmakers and is a member of deposed leader Aung San Suu Kyi’s political party, addressed the public for the first time since the coup.

“This is the darkest moment of the nation and the moment that the dawn is close,” he said in a video posted on the shadow government’s website and social media.

“In order to form a federal democracy, which all ethnic brothers who have been suffering various kinds of oppressions from the dictatorship for decades really desired, this revolution is the chance for us to put our efforts together,” he said.

He added: “We will never give up to an unjust military, but we will carve our future together with our united power. Our mission must

Chile becomes Latin America’s Covid-19 vaccination champion

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ANTIAGO, Chile—After being among the world’s hardest-hit nations with Covid-19, Chile is now near the top among countries at vaccinating its population against the virus.

With more than 25 percent of its people having received at least one shot, the country of 19 million on South America’s Pacific coast is the champion of Latin America, and globally it is just behind Israel, the United Arab Emirates and the United Kingdom.

That’s a far cry from the beginning of the pandemic, when Chile was criticized over its inability to trace and isolate infected people.

So what is the secret to its success?

Government officials and health experts say it was the country’s early negotiations with vaccine producers, as well as its past experience with robust vaccination programs, a record praised by the World Health Organization.

During the first months of the pandemic, the headlines in Chile were bleak, with the country’s intensive care units almost full and the government unable to control the virus’s spread despite restrictions that included mandatory lockdowns.

But another story was developing in parallel that few people knew about, one that had begun months before and would later guarantee Chile fast access to vaccines.

Andrés Couve, Chile’s minister of science, told The Associated Press that formal negotiations with vaccine-producing companies started last April, only a month after Covid-19 was declared a pandemic.

By May, Couve said, a team of experts and officials presented a plan to President Sebastián Piñera, including a road map about how to use the country’s network of trade agreements and its previous contacts with pharmaceutical companies to get vaccines once they were developed. Recommendations included being part of clinical trials.

This effort was helped by contacts made months earlier in China. In October 2019, Chilean biochemist Dr. Alexis Kalergis had traveled to Beijing with two

Chilean colleagues for an international congress on immunology. There Kalergis met experts from the Chinese pharmaceutical Sinovac Biotech Ltd. Kalergis had already approached Sinovac about working on vaccine research. So when China announced in January 2020 that it had identified a new virus, and within weeks the world saw it spreading around the globe, Kalergis knew he needed to reach out to his colleagues at Sinovac.

“Taking advantage of our experience, the contacts and the interest that we expressed...we started conversations with Sinovac,” said Kalergis, director of the Milenio Institute for Immunology and Immunotherapy at Chile’s Catholic University.

He spoke to Sinovac colleagues in January and February 2020, then went to Catholic University Dean Ignacio Sánchez with the details, saying they needed to be passed on to the government.

Sánchez approached Chile’s health minister and foreign secretary, urging early negotiations with Sinovac and other pharmaceuticals and for Chile to be part of their clinical trials. The ministers agreed, and the Chilean government began making diplomatic contacts.

By June, long before any other country in Latin America, Chile had secured a contract with Sinovac, which agreed to deliver an early batch once the vaccine was authorized, Kalergis said.

Rodrigo Yáñez, undersecretary for international economic relations and lead negotiator with companies to get the vaccines, said Chile understood from the beginning that it needed to work with different pharmaceutical companies at the same time.

“We looked at different alternatives and didn’t put all the eggs in the same basket,” he said.

Chile was part of a Sinovac clinical trial that started in December and involved 2,300 medical workers. The government has not published its results, saying only that they were good.

Trials for vaccines by AstraZeneca, Janssen and the Chinese pharmaceutical CanSino were also done in

Chile, and those results also have not been disclosed.

Chile received its first vaccine doses in December, some 21,000 from Pfizer, but they were fewer than promised. The country immediately began vaccinating medical workers. By the end of January, Chile received the first 4 million doses from Sinovac and was able to speed up inoculation. Massive vaccination started in February.

Chile was administering more than 100,000 shots almost daily since early February, and that more than tripled this week.

On Wednesday, it reached a daily global record of 1.3 shots per 100 inhabitants, followed by Israel with 1.04 doses, according to Our World in Data, a collaboration between researchers at the University of Oxford and the nonprofit Global Change Data Lab. No other country in Latin America has had anything near Chile’s success. Brazil, for example, has vaccinated only 4 percent of its population, and Argentina around 3 percent.

Health Minister Enrique París said Chile has now secured 35 million doses to vaccinate 15 million people, and it’s already helping other countries.

Earlier this month, Chilean authorities donated 20,000 Sinovac doses to Paraguay and the same amount to Ecuador.

Chile had “good planning and wisely used the resources it has to make bilateral agreements with some producers,” Jarbas Barbosa, deputy director of the Pan American Health Organization, said this week.

This is not the first time Chile has conducted a successful vaccination program. Last year, between March and April when the virus was emerging, Chilean authorities vaccinated 8 million people against the flu.

Mario Patiño, 75, was among the first to be vaccinated with a Sinovac dose in February at a school in Lo Prado, a poor residential area of Santiago.

“Everything was perfect, fast, with an excellent service, well organized,” said Patiño, who was getting his second shot on Saturday. “For me, the vaccine means to be calmer.” AP

be accomplished.”

At the end of the message, he flashed the three-finger salute that has become a symbol of resistance to the military rulers.

The aid group’s tally of Sunday’s victims appeared to raise beyond 100 the number of civilians killed by security forces since the coup.

Confirmation is nearly impossible in the country due to the security situation and a crackdown on independent media, but various groups have carefully compiled tallies with similar figures.

The actual death toll is likely higher, as police apparently seized some bodies, and some victims have had serious gunshot wounds that medical staff at makeshift clinics would be hard-pressed to treat. Many hospitals are occupied by security forces, and as a result are boycotted by medical personnel and shunned by protesters.

Police have also aggressively patrolled residential neighborhoods at night, firing into the air and setting off stun grenades as an intimidation tactic. They have also taken people from their homes in targeted raids with minimal resistance. In at least two known cases, the detainees died in custody within hours of being hauled away. AP

Flights canceled during China’s worst sandstorm in a decade

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EIJING—China’s capital and a wide swath of the country’s north were enveloped on Monday in the worst sandstorm in a decade, leading to the cancelation of hundreds of flights.

Skyscrapers in the center of Beijing appeared to drop from sight amid the dust and sand. Traffic was snarled and more than 400 flights out of the capital’s two main airports were canceled before noon.

Such storms used to occur regularly in the springtime as sand from western deserts blew eastwards, affecting areas as far as northern Japan.

Massive planting of trees and bushes in fragile areas has reduced the storms’ intensity, but the expansion of cities and industries has put constant pressure on the environment throughout China.

The National Meteorological Center forecasted the sand and dust would affect 12 provinces and regions from Xinjiang in the far northwest to Heilongjiang in the northeast and the eastern coastal port city of Tianjin.

“This is the most intense sandstorm weather our country has seen in 10 years, as well as it covering the broadest area,” the center said in a post on its web site.

It wasn’t clear if the storm was related to a recent general decline in air quality despite efforts to end Beijing’s choking smog.

The ruling Communist Party has pledged to reduce carbon emissions per unit of economic output by 18 percent over the next five years. Environmentalists say China needs to do more to reduce dependency on coal that has made it the world’s biggest emitter of climate changing gasses. AP

Sports

Senate approves Kouame, Marañón PHL citizenship

BusinessMirror

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| Tuesday, March 16, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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A VERY STEEP UPHILL CLIMB

By Miguel La Torre

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PORTS wasn’t spared when extreme lockdowns were imposed almost exactly a year ago today to combat the spread of the coronavirus or Covid-19.

The pandemic prevented everyone to do sports—from a simple jog around the neighborhood to a session at the gym. Amateur and professional competitions and leagues were halted as the world stood still and watched the virus precariously spread to almost every corner of earth.

Training and coaching went online and athletes and coaches had to make do with the confines of their homes, improvising with whatever they have at hand to mimic the gym or a competition.

And then came the proverbial silver lining and sports made a calculated comeback.

Football in some parts of Asia and Europe returned to action, sans the crowd. Small competitions in non-contact crept back, also without the fans cheering from the stands. Soon,

boxing followed suit in confined venues.

The National Basketball Association (NBA) was perhaps the most celebrated of all comebacks with its bubble at Disney World in Florida becoming a template for other countries to learn from.

At home, it was the Philippine Basketball Association (PBA) that defied the virus and did its own bubble in Clark in collaboration with the Bases Conversion and Development Authority.

For PBA Commissioner Willie Marcial, staging the league’s 45th season in a bubble was all about giving hope and inspiration.

“Honestly, we, along with the PBA Board of Governors, wanted to give hope to the people,” Marcial told BusinessMirror Sports. “If the PBA can do it, they can also do it. For me, it’s also about giving the fans the entertainment they deserve.”

“Secondly, it’s to give hope to other sports, not just basketball,” he added.

The PBA bubble was tedious—and expensive to a tune of P60 million.

All 12 teams entered Clark in batches, in

September, observing strict quarantine protocols.

The elimination games commenced on October 11 and the season ended a success on December 9 with Barangay Ginebra San Miguel beating TNT Katropa in five games to hoist the Philippine Cup trophy.

Holding the bubble was tougher than anyone could imagine, Marcial said.

“That was our first time to do that. Before it even started, we encountered a lot [of problems],” he said.

“You have to monitor the hotel, the food, and the protocols, all sorts of stuff.”

“We were new to that territory, we didn’t have any idea how it would turn out,” he added.

But because of Marcial’s undying commitment to the sport and fans, the PBA bubble was mission accomplished, sparking hope for Philippine sports and other leagues.

“It inspired other leagues,” Marcial said. “We became the template. As you saw and witnessed, football followed the setup after. We provided light for other league’s to have a guide.”

The Chooks to Go Pilipinas 3x3 held its

Nayre, Fadol in contention for Olympic slots

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By Josef Ramos

OHN MARI “JANN” NAYRE and Rose Jean Fadol intensified their drive in the World Table Tennis Singles Olympic qualifying tournament by beating their respective opponents in Doha, Qatar, on Sunday night.

Nayre and Fadol thus moved closer of becoming the country’s second and third Filipino table tennis Olympians after the late Ian “Yanyan” Lariba, who competed in the Rio de Janeiro 2016 Games.

Nayre, a veteran of 2018 World Youth Olympic Games in Argentina, beat Daniels Kogans of Latvia, 11-4, 8-11, 11-9, 11-4, 11-2, before closing

out Sunday’s program with a 7-11, 11-8, 5-11, 11-7, 5-11, 11-3, 11-9 victory over world No. 68 Lubomir Pistej of Slovakia.

Fadol, who played in the 2019 30th Southeast Asian Games, beat Qatari Aia Mohamed, 11-6, 11-6, 11-3, 11-5, in the round-of-16 and upset No. 71 Italian Deborah Viverelli, 11-6, 11-9, 11-9, 7-11, 5-11, 8-11, 11-9, to enter the women’s semifinals.

“Courage and skills were given by God during those wins. The players gave their very best,” national coach Annabelle Comendador told BusinessMirror via overseas call on Monday. “We have a good chance of making it to the Olympics.”

Nayre played against Niagol Stoyanov of

Italy in the men’s quarterfinals while Fadol faced Ukrainian world No. 32 Margaryta Pesotska in he semifinals late Monday.

Nayre and Fadol must top their brackets to earn tickets to the Tokyo Olympics.

Five Olympic slots—from the total of 60—are at stake in the women’s division, while four—out of 73 berths—are up for grabs in the men’s competitions in Doha.

Two other Filipino bets are also in Doha, but Russell Misal lost to Bence Majoros of Hungary, 5-11, 8-11, 8-11, 11-9, 7-11, in the men’s roundof-16, while Jannah Romero bowed to Serbian Sabina Surjan, 8-11, 8-11, 8-11, 11-9, 4-11, also in the women’s round-of-16.

COMMISSIONER Willie Marcial and the Philippine Basketball Association set the template, and the others followed, including the Philippine Football League under commissioner Coco Torre.

President’s Cup in a bubble at the Inspire Sports Academy in Calamba, Laguna, in October Zamboanga City won the tournament and bagged a P1-million cash prize money after dismantling Nueva Ecija in the finals.

The Philippines Football League (PFF), thanks to generous sponsor Qatar Airways, kicked off its 2020 season also October in yet another bubble—team staff, players and league personnel were herded at the Seda Nuvali hotel in Sta. Rosa, Laguna, a short drive from the Philippine Football Federation National Training Centre in Carmona, Cavite, for the matches.

PFL Commissioner Coco Torre’s insights and motive were no different from Marcial’s.

“It provided strength and hope and to let people know that Philippine football didn’t give up because of the pandemic,” Torre said.

“We took into account that football here in the Philippines is an industry and it’s also a source of livelihood,” Torre said.

“The players, coaches—this is where they

get their income so we could not ignore that fact, which is why we really pursued having a league for the year 2020.”

After 15 match days, United City Football Club claimed its fourth PFL crown in November after beating Kaya in the final.

“For us, we showed competence,” Torre said. “Amid the pandemic where it is unprecedented and it was a very steep uphill climb, we were able to surpass the challenges.”

Inspiration and competence indeed as professional boxing was good to go, and so was volleyball with the Philippine Superliga holding its beach volleyball tournament this time in the Subic bubble just a month ago.

The Maharlika Pilipinas Basketball League is resuming its Lakan Cup with the semifinals and finals also set in Subic in cooperation with the Subic Bay Metropolitan Authority.

“Amid the pandemic that’s all unprecedented, it was a very steep uphill climb, but we were able to surpass the challenges,” Torre said.

ENATORS gave their thumbs up on Monday the naturalization of Ivorian basketball player Kakou Ange Franck Williams Kouame and Spanish football player Bienvenido Marañón Morejón.

In a unanimous vote of all 23 senators present, the Senate approved on third and final reading House Bill No. 8631 under Committee Report No. 188 granting Filipino citizenship to 34-year-old striker Morejón.

The senators also voted 23-0-0 to pass on third reading House Bill No. 8632 under Committee Report No. 189 granting citizenship to Kouame.

Sen. Richard Gordon, chairman of the Committee on Justice and Human Rights, said the naturalization process “values the opportunity to become more closely knit to the fabric of Philippine society.”

We are excited for them to be naturalized because they have proven that they really want to be Filipinos, but they also have to be exemplary, to be an inspiration to the Filipinos,” Gordon said.

Gordon stressed that naturalization is a privilege, not a right, and that the candidates must have moral values and should be free from any legal impediment.

The counterpart versions of the measures, Senate Bill No. 1391, filed by Senate Majority Leader Juan Miguel “Migz” F. Zubiri for Marañón, and Senate Bill No. 2058, authored by Gordon for Kouame, were passed on second reading last week, amending the effectivity of the law to immediately.

Since counterpart measures were already passed in the House of Representatives last month, both measures will become a law after President Rodrigo Duterte signs them and after its publication in Official Gazette or in a newspaper of general circulation.

BIKES FOR BARANGAYS Rep. Julienne “Jamjam” Baronda of the lone district of Iloilo City donates 43 Japanese bikes for the city’s barangays during the celebration of the International Women’s Month recently.

Palou talks about PVL in forum

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HILIPPINE Volleyball League (PVL) President Ricky Palou will be the sole guest in Tuesday’s online session of the Philippine Sportswriters Association (PSA) Forum.

Palou, who also heads the organizing Sports Vision Management Group Inc., will

discuss the coming Open Conference of the first professional volleyball league in the country which will be staged in a bubble format at the Inspire Sports Academy in Calamba, Laguna.

The PVL is tentatively set to open its

Game On Sports PH Vincent Juico @VJuico, Instagram vpjp_j, vince.juico@gmail.com

SPORTS WITHOUT BORDERS BEFORE the outbreak, kids get only about 30 minutes to an hour of physical activity or exercise in school once a week—if we’re looking to defeat child obesity and the sedentary lifestyle among children, then once a week isn’t going to cut it.

A healthy and active lifestyle is important even for kids. However, even before the pandemic, kids only get limited exercise in school.

A rising organization catering to this growing need is Game On Sports PH, a venture founded by athletes who are themselves passionate about sports and are keen to see its development of youth in our country.

“As we move into the New Year and a fresh start, parents are still encouraged to prioritize indoor activities and safety when looking for new activities for their kids to try. Sports remains to be a popular choice and, while the experience now is a bit different to what we’re used to, the benefits you get from it remain the same.” a Game On Sports PH’s’ press release stated.

The group is founded by former athletes Krizanne Ty, Lia Calingacion and Danica Caynap. They specialize in quality training programs designed to help kids discover their love for sports and build core values.

Currently, all activities are conducted online to meet the needs of kids today.

“Everyone of us at Game On Sports PH—

from the founders, the coaches and even our operations team—has witnessed first-hand what sports can do for kids and we’re excited to give the youth today the same experience albeit being online for now,” Caynap said.

Whether you’re just getting started or looking to grow your skill set, Game On Sports PH has a program for every level. Open to kids aged three to 12, participants can choose from either their ProActiv Multi-Sport Camp or the Focused Sports Sessions.

The ProActiv Multi-Sport Camp introduces the basics of different sports to kids such as basketball, football, rugby, athletics, gymnastics, among others.

Broken down into a series of 30-minute sessions, kids are taken through fun drills and activities designed to improve their flexibility, strength, coordination and stamina—as well as develop important life skills, such as communication, confidence, and character.

The classes are conducted in partnership with international group ProActiv Sports based in Singapore and grassroots sports development advocate Milo Philippines, with whom they are the exclusive multi-sport partner of the Milo Home Court campaign.

The Focused Sports Sessions, on the other hand, aims to help a child progress in the sport of their choice. Each 45-minute session

season on May 8.

Presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp., the session will start at 10 a.m.

The public sports program powered by Smart and Upstream Media as official webcast partner, is streamed live via the PSA Facebook page fb.com/ PhilippineSportswritersAssociation and also shared

by Radyo Pilipinas 2 Facebook page. concentrates on the skills and drills needed to improve and advance their talents. Currently, kids can choose from either rugby, basketball, football, boxing, gymnastics, karate and high intentity interval training.

All classes are conducted in a safe, fun and engaging environment using equipment from popular sports retailer Decathlon. Class sizes are regularly adjusted to ensure an optimal learning experience between students and teachers.

“We’re grateful to have found partners who share the same passion for sports and youth development as we do,” Calingacion said. “They have been instrumental in helping us get Game On Sports PH running and we look forward to another fruitful year of helping kids discover their love for sports.”

“We are driven to help every child discover the sport they love and we look forward to being with them every step of the way as they progress into better athletes and better people,” Ty said.

Coach Caynap said: “Game On Sports lets me bring together my passions for both youth development and sports. I firmly believe in how it can help transform our younger generation to be more focused, disciplined and empowered.”

There’s a saying in organizations that, “As above, so below,” and if you see the passion, the eagerness and the enthusiasm in the eyes of the kids who’ve gone through the program, it’s because Game On Sports is led by one of its most passionate leaders, Ty. Follow Game On Sports PH on Facebook (Game On Sports PH) and Instagram (@gameonsportsph) to stay tuned on their latest news, announcements, and camp schedules. Registration for their March 2021 camps is currently ongoing at bit.ly/ FocusedSportsMarch.