BusinessMirror March 23, 2021

EXPERTS AGONIZE OVER w

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Tuesday, March 23, 2021 Vol. 16 No. 163

P25.00 nationwide | 4 sections 32 pages |

HUNGER, HEALTH BALANCE

A BOY carries a cauldron inside a huge, cylindrical steel post meant to be used for LRT Line 3, being built on C-5 extension in Las Piñas City. Prior to its erection, the giant cylinder serves as a temporary shelter for his family. Economic managers and private experts are still navigating the tricky balance between imposing fresh mobility restrictions amid record-high Covid-19 cases, and preventing thousands of businesses from permanently shuttering and workers going hungry. NONIE REYES

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By Cai U. Ordinario

@caiordinario

HE national government must immediately focus on containing the pandemic, as an overstretched health-care system straining under rising Covid and non-Covid cases would cause further disruption to the economy.

Fuel-marking has brought in ₧386B in taxes since Sept ’19

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OTAL duties and taxes colleYcted by the government through its fuel-marking program have reached nearly P400 billion as of last week.

T h e g o v e r n m e nt a l r e a d y marked 21.169 billion liters of fuel since the program started in September 2019 until March 18 this year, according to an infographic shared by Finance Secretary Carlos G. Dominguez III with reporters.

Of the P385.565 billion total duties and taxes, the bulk or P179.05 billion was collected by the Bureau of Customs; and the remaining P27.465 billion, by the Bureau of Internal Revenue. By fuel type, diesel comprised 60.84 percent of

fuel marked, followed by gasoline (38.61 percent) and kerosene (0.54 percent).

Most of the fuel marked was in Luzon (73.92 percent), then Mindanao (20.87 percent) and Visayas (5.2 percent). Topping the list of 22 companies that participated in the fuel-marking program is Petron with a 22.47-percent share or 4.76 billion liters of fuel marked.

Next to Petron is Shell with 19.7 percent or 4.17 billion liters, followed by Unioil with 10.3 percent or 2.18 billion liters, Seaoil with 8.34 percent or 1.77 billion liters and Phoenix with 7.49 percent or 1.59 billion liters.

Action for Economic Reforms (A ER) Coord inator Fi lomeno Sta. Ana III issued the statement in reaction to the pronouncement on Sunday of Acti ng Soc ioeconom ic Pl a n n i ng Secretary Karl Kendrick T. Chua who said, “the issue we face now is not economy vs health. It is the total health of the people, whether from Covid, non-Covid sickness, or hunger.”

Sta. Ana said: “Secretary Karl [Chua] mentioned that we should be concerned with the ‘total health

of the people.’ Everyone agrees with that. But we must likewise recognize that the non-Covid diseases are indirect consequences of the pandemic,” Sta. Ana told the BusinessMirror.

He said health workers are overstretched and health facilities are overburdened because of Covid-19. Patients could also post pone appoi nt me nt s a nd doctors could close their clinics, which could lead to a rise in other diseases.

See “Experts,” A2

LEISURE DESTINATION HOTELS, RESORTS HIT BY 2-WK NCR LOCKDOWN

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

A

NOTHER year, another Holy Week of scrapped vacations.

Sunday’s announcement of a lockdown in the National Capital Region (NCR) and nearby provinces rear-ended the travel plans of coopedup residents aching for the sea and the sun, and dashed hopes of hotels and resorts in key destinations of the country of a reversal in their fortunes.

Richard A., a public relations specialist, said he was looking for ward to a work-cation (work + vacation) for 18 days in Boracay Island starting March 26.

“Because our office is still implementing a work-fromhome policy, this trip takes advantage of the opportunity to work remotely from another location.”

He said Boracay isn’t his usual choice for vacations, “ but I was encouraged because of the safety protocols

that Boracay has put in place.”

After learning from the news that an “NCR-plus bubble” would be in place until Easter Sunday, Richard hurriedly rebooked his trip. “I was disappointed, but I understand why it had to be done. The rising number of infections is a serious matter and the restrictions will help mitigate the risk of having the new Covid variants spread to the regions,” he said.

Holy Week opportunities lost

GING SALME, manager of the popular Jony’s Beach Resort in Boracay, also had high hopes for the Holy Week, considered one of the peak seasons on the island. “We were so happy because we were supposed to reopen the other hotel [Jony’s Boutique Hotel] because we were full here at the resort. Unfortunately, we started receiving cancellations for future bookings [as soon as the Malacañang announcement was made],” she said in Ilonggo.

See “Leisure destination,” A2

See “Fuel marking,” A2

PESO EXCHANGE RATES n US 48.6740

n JAPAN 0.4482 n UK 67.3746 n HK 6.2678 n CHINA 7.4772 n SINGAPORE 36.2320 n AUSTRALIA 37.5666 n EU 57.8393 n SAUDI ARABIA 12.9787

Source: BSP (March 22, 2021)

News

BusinessMirror

A2 Tuesday, March 23, 2021

Govt junks vaccine law IRR ban on ‘sin’ product makers

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By Samuel P. Medenilla

@sam_medenilla

ACED with mounting protests from lawmakers, the Executive announced on Monday it will now allow all companies, including those involved in manufacturing tobacco and liquor products and milk formulas, to secure Covid-19 vaccines for their employees.

In an online press briefing on Monday, Presidential spokesman Harry Roque said the implementing rules and regulations (IRR) of Republic Act 11525 of the Covid-19 Vaccination Law was amended for this purpose.

“All private companies, includ-

ing cigarette companies are now allowed to purchase vaccines,” Roque said, a day after members of the House of Representatives and the Senate warned the National Task Force Against Covid-19 and the Department of Health a provision in a draft IRR on RA 11525 was

“illegal” because the prohibition on “sin” product manufacturers was never contemplated in the national vaccination campaign enacted last month.

Meanwhile, Roque explained the said sin product companies will still be required to enter into a tripartite agreement with the government and pharmaceutical firms to make the purchase, since all current Covid-19 vaccines are still not commercially available.

“All the [Covid-19 vaccines] are still covered by the Emergency Use Authorization so they need to enter into an tripartite agreement with the government,” Roque explained.

Under the said tripartite accord, the government will shoulder the indemnification for vaccine recipients, who will suffer any adverse effects.

In the previous such accord entered by some private companies with British vaccine maker, AstraZeneca, half of their purchased

doses were donated to the government. Thus, the aborted IRR provision barring the sin product makers from buying vaccines would have also deprived government of a good partner in vaccinating people, at a time when Covid-19 cases are reaching all-time highs, angry lawmakers had pointed out. There were 8,019 cases logged on Monday (March 22).

Roque said he will first seek clarification with Chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez Jr. if the said practice will be required in other similar tripartite agreements since it is not stipulated under RA 11525.

Roque issued the clarification on vaccine procurement after the government earlier announced it is considering barring firms engaged in manufacturing tobacco products and milk formulas from securing Covid-19 vaccines due to existing laws.

DTI, OTHER AGENCIES TO SPEND P2B FOR BAMBOO INDUSTRY

By Tyrone Jasper C. Piad @Tyronepiad

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HE Department of Trade and Industry (DTI) and other government agencies are set to spend nearly P2 billion until next year to develop the bamboo industry.

DTI Secretary Ramon Lopez said at the North Luzon and Central Luzon Virtual Bamboo Summit on Monday that P594 million worth of projects are slated in 2021 and P1.4 billion next year. In 2020, the same agencies implemented P441 million worth of projects related to this goal.

Lopez said the DTI alone implemented P15 million worth of bamboo-related projects last year in 11 regions, bulk or P9 million of which was allocated to north and central Luzon. The agency will be complet-

ing P41 million worth of projects in 12 regions this year and P545 million in 13 regions in 2022.

The government-run Development Bank of the Philippines, he added, will be opening a P10-billion lending facility each in 2021 and 2022 for would-be bamboo farmers.

Last year, Lopez said the agencies planted 16,687 hectares (ha) of bamboo across the country, which is a little beyond the target of 16,687 ha. The targets for 2021 and 2022 are 23,671 ha and 40,000 ha, respectively.

“By planting more bamboo trees to increase the supply of bamboo, we aim to create a source of livelihood for our people, especially in communities in the countryside near the areas where bamboo is being planted,” Lopez said.

The Trade chief said that bamboo

Experts…

Continued from A1

The Department of Health (DOH) earlier said 29 hospitals in Metro Manila were already at “critical” level in terms of bed occupancy for Covid-19 patients. This meant that these hospitals had a Covid-19 occupancy rate of more than 85 percent.

“In short, the pandemic and total health of the people will be served. On the other hand, insisting on reopening the economy at a time that the virus is surging will only result in higher Covid and nonCovid cases, and will result in further economic disruption,” Sta. Ana said.

Sta. Ana said it is the government’s responsibility to provide relief to Filipinos. If there are millions who are hungry, he said, the government should give food and subsidies to these people and those who are vulnerable.

On Sunday, the Neda chief said 3.2 million people or 23 percent of Metro Manila residents are hungry.

Sta. Ana said the government can borrow funds for these given the country’s economic state. In 2020, the economy contracted 9.5 percent with the fourth quarter seeing a decline of 8.3 percent.

“It is most naive for the government to think that the market [when there is market failure] can provide the means for people to feed themselves,” Sta. Ana said.

“To say that there is no funding is wrong. For the government can borrow. Good economics allows heavy borrowing during a time of national emergency,” he added.

Chikiamco clarifies MEANWHILE, Foundation for Economic Freedom President Calixto V. Chikiamco clarified to BusinessMirror on Monday that it was the government who made their decisions “without science and data” and not the President’s economic team.

In a letter to the editor sent to BusinessMirror,

can support the input requirements of the micro, small and medium enterprises (MSMEs), particularly those manufacturing bamboo-based finished goods. Lopez explained that the bamboo industry “has strong potential for business,” given its wide application, including reengineered bamboos that are used as bamboo panels.

These bamboo panels, Lopez said, are flat like plywood but stronger. “Our country’s furnituremakers can take advantage of these bamboo-based materials and reengineered bamboo for their products, which will give them a higher value and earn them more profit,” he said, noting that there is a current demand for bamboo-based products.

Through DTI’s shared services fa-

Chikiamco said he blamed “the entire government, including the Department of Health [DOH] and other officials, not the economic managers for the situation we are facing now.”

Chikiamco said loosening restriction was the correct policy response. The only thing was that the government failed to manage this with the proper implementation of a testing, tracing, and treatment strategy.

He also said the mixed messaging coming from government officials who themselves violated health protocols contributed to the spike in Covid-19 cases.

“The failure to secure vaccines earlier has also pushed the government to resort to more restrictions as a response to the spike in cases,” Chikiamco said.

Careful and calibrated ON Monday, Chua said Neda supported the localized quarantine measures in areas showing high transmission rates, as directed by Resolution 104 of the InterAgency Task Force (IATF) on the Management of Emerging Infectious Diseases.

The Neda chief said the relaxation of quarantine restrictions from April to October 2020 helped restore 6 million jobs.

Further, Chua said stricter compliance with health standards allowed for a safe reopening of the economy without causing a spike in cases in the last quarter of 2020, allowing more Filipinos to earn income and feed their families.

“We recognize the risks associated with the recent spike in Covid-19 cases but reverting back to a stricter and blanket community quarantine is no longer an option, knowing how much it has cost the Filipino people in the past year. That is why a careful and calibrated approach is needed to address the sources of highest risks through localized quarantines and additional restrictions, so that jobs or livelihoods will not be affected,” Chua said.

Chua said the country has been in varying levels of quarantine over the past year. As a result, an estimated 16.4 million people have experienced hunger nationwide. In NCR alone, 3.2 million individuals or 1 in 4 people are hungry. There are also 506,000 jobless people.

However, he said, the recent spike in cases compels the government to act swiftly to slow down the infection rate. The IATF recommended adding restrictions in specific areas without constraining the overall mobility of people.

cilities program and other initiatives, the department has aided bamboo agri-business and bamboo processing to cooperatives, MSMEs, associations and local government units. In addition, Lopez said DTI conducted training to help develop value-add for bamboo products.

“We would also like to point out that a strong Philippine bamboo industry focusing on sustainable development can also contribute towards our country’s post-pandemic recovery. Thus, let’s make bamboo a significant force in our economic, environmental, social, and cultural lives,” the DTI chief added.

Last August, the Philippine Bamboo Industry Development Council, which is chaired by the DTI, formulated a plan to operationalize the Bamboo Industry Roadmap 2020-2022.

“Over the next two weeks, we will strengthen the implementation of the ‘Prevent, Detect, Isolate, Treat, and Recover’or PDITR strategy and continue rolling out the vaccination program,” Chua said.

“We have already started inoculating our medical frontliners last March 1, 2021 and we aim to provide vaccines to at least 70 million Filipinos this year, or around 100 percent of the entire adult population,” he added.

Over the weekend, economists said the President’s economic team may have miscalculated the situation when they recommended loosening mobility restriction in their bid to boost the economy.

On top of this, economists who spoke to the BusinessMirror said there were many issues in the implementation of the quarantine restrictions as well as the arrival of new Covid-19 variants which eventually caused the spike.

Over the weekend, the Department of Health (DOH) reported 15,756 new Covid-19 cases in the Philippines.

This included the 7,999 recorded last Saturday and the 7,757 cases reported last Sunday.

On Monday, the DOH reported that another 8,019 new Covid-19 cases were reported. A total of 103 Filipinos recovered from the virus while four passed away.

“Government miscalculation is a generous description at this point—it presumes they are even attempting the math,” Ateneo de Manila University School of Government Dean Ronald U. Mendoza told the BusinessMirror in an interview last Sunday.

“All earlier indicators and forecasts suggested systems were still not ready even after a year of lockdown.

They need the humility to ask the private sector and academia for help,” he added.

Sta. Ana earlier explained to the BusinessMirror that the efforts to loosen restrictions failed because the government was not effective in contact tracing and the referral system for Covid-19 patients was not functioning.

He added the following: government officials violated health protocols; the pronouncements from government officials provided a false sense of security encouraging more people to go out; and, the government lacked resources for relief or social amelioration.

Sta. Ana also noted a failure of coordination among national government agencies and between central government and local government units. Sta. Ana pointed as well to divisiveness among Filipinos, which eroded collective action.

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Leisure destination…

But she added, the guests may rebook their vacations without penalties. “Since we reopened, we have free cancellations or rebookable stays because sometimes they have problems in their requirements, or because of flight cancellations.”

Leeds Trompeta, general manager of the posh Amorita Resort in Panglao Island, had hoped this Holy Week would be good time for them to make back their lost revenues.

Like most resorts last year, the initial lockdown, which also came

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before Holy Week, caused them massive losses due to refunds.

“We had forecasted an occupancy level of 60 percent for this Holy Week, but since 90 percent [of the guests] will be coming from Manila, we expect cancellations to start [today, Monday],” he said.

What’s worse, he added, with the better occupancy forecast, “We added more associates to prepare for the arrivals, which unfortunately, we will have to adjust based on the actual arrivals,” he added.

‘Ensure food transport flows in NCR+ bubble’ Continued from A8

Meat supply IN an interview with the BusinessMirror on Tuesday, Philippine Association of Meat Processors Inc. (Pampi) Vice President Jerome D. Ong said there is enough supply of processed meat products, especially for areas under the NCR+ bubble.

Ong explained the industry has adjusted to the new normal and improved production capacities following a surge in demand for their products with the implementation of enhanced community quarantine (ECQ) last year.

“We are much better prepared now than a year ago. A year ago no one saw this pandemic coming as most companies were rebuilding their inventory levels coming from a closing of 2019 then the pandemic struck,” Ong said.

“This time, companies and manufacturers have increased their production capacity by 30 to 50 percent in anticipation of granular lockdowns being implemented by local government units.

We are prepared and even our suppliers in the supply chain side are better prepared now as [this bubble is being implemented],” Ong added.

‘Most approachable’ CJ Peralta bids farewell to court Continued from A8

The lawyers admitted that they were “deeply troubled and concerned” by the profiling of lawyers being conducted by Philippine National Police (PNP), as well as the rising number of killings involving lawyers.

The SC has remained mum on the issue while an inventory of cases involving killing of lawyers is now being conducted by the Office of the Court Administrator.

However, the SC said among Peralta’s accomplishments is the fasttracking of the videconferencing of court hearings to keep the wheels of justice moving during the pandemic.

He previously said, courts have conducted up to 192,444 videoconferencing hearings, with the success rate of 88 percent, from May 4, 2020 to February 5, 2021.

To augment this measure, the SC through CJ Peralta issued administrative Circulars adopting measures to protect the safety and health of the court employees and court users, such as the daily court operations with skeleton staffing; restricting entry into Halls of Justices to only those with official business; reinforcing physical distancing within court premises; the constant sanitation of court premises and monitoring of the health of our court personnel; and the restructuring of various face-to-face training programs and activities of the Court into hybrid or blended learning platforms.

“To this end, I can say with confidence that we, the members and officials of the Supreme Court, have done everything within our authority to address all judicial concerns and protect everyone’s well-being to the best of our abilities,” Peralta said.

“We have proven that with our determination and willingness to adopt innovations, this pandemic is not and will never be an obstacle in the fulfillment of our sworn duties as public servants. We have all led, and lived, by example,” he added.

Anti-terrorism law

ONE of the controversial cases that CJ Peralta would be leaving unresolved is the Anti-Terrorism Act of 2020, where 37 petitions were filed before the SC seeking to declare the law unconstitutional.

Peralta would be leaving the judiciary while the SC is still conducting oral arguments on the petition.

The resolution of the case has been delayed as health concerns caused several postponements of the scheduled oral arguments.

The oral arguments that were supposed to continue today (March 23) were canceled anew due to the Covid-19 case spikes. The country on Monday logged an all-time high of 8,019 fresh daily cases.

The SC announced that it would continue the oral argument on April 6.

W hen Peralta assumed the Chief Justice’s post on October 23, 2019, he presented his 10-Point Program.

Under his leadership, the SC formulated and approved 18 procedural rules and guidelines intended to improve the administration of justice and addressed the problem of clogged court dockets.

They streamlined the plantilla in several offices, divisions and services of the Court that guaranteed the security of tenure for the employees and to improve their processes.

The SC established the Judiciary Public Assistance Section (JPAS) that received and promptly acted on concerns, issues and suggestions and even complaints against erring court officials and employees.

It also formally organized the Judicial Integrity Board (JIB) in an effort to prevent corruption in the Judiciary.

Peralta was supposed to retire on March 27, 2022 when he reaches 70, the mandatory age of retirement for justices, but he opted to retire a year earlier.

Fuel marking…

Fuel marking makes use of a unique chemical marker that can be embedded at a molecular level in petroleum products— gasoline, diesel and kerosene—thereby enabling authorities to test, identify and distinguish petroleum products with paid excise taxes.

Under Republic Act 10963 or the Tax Reform for Acceleration and Inclusion Act (TRAIN), petroleum products that are refined,

Continued from A1

manufactured or imported to the Philippines such as, but not limited to, unleaded premium gasoline, kerosene, and diesel, shall be marked by an official marking agent after payment of taxes and duties.

The fuel-marking program was launched with the aim of halting illegal importation, manufacturing and other fraudulent activities relating to the use and sale of petroleum products in the country. Cai U. Ordinario

The Nation BusinessMirror

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PRC and OWWA press review of revised OFW testing protocols

By Claudeth Mocon-Ciriaco Correspondent

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FFICIALS of the Philippine Red Cross (PRC) and the Overseas Workers Welfare Administration (OWWA) called on Monday for a recalibration of testing and quarantine protocols for overseas Filipino workers (OFW).

Both PRC Chairman & CEO Sen. Richard Gordon and OWWA Administrator Hans Leo Cacdac raised their concerns on the new protocol from the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) that now requires incoming Filipinos to proceed to quarantine facilities upon arrival, and to undergo Covid-19 testing only on the fifth day after their arrival or after six days, including the day of arrival.

Cacdac, expressing worries that the agency’s 2021 budget of P6.2 billion could be depleted as early as April or May, said that OWWA has “sounded an early warning signal.”

He revealed the agency currently spends around P30 million per day for the accommodations of 10,418 OFWs, each having an expected stay at the hotels for a total of eight to nine days.

For his part, Gordon cited the “psychological pressure” on OFWs who have urgent family matters at home, and the financial burden that returning non-OFWs have to shoulder.

“Nabibigatan ang gobyerno, nabibig-

atan lalo ang tao. [It is a burden to the government, it is a bigger burden to the people],” Gordon lamented in a radio show on Sunday.

Meanwhile, PRC Head of Molecular Laboratories Dr. Paulyn Jean Ubial said that compared to just operating a mega swabbing facility, the current system, where members of the Philippine Coast Guard travel to 108 quarantine hotels everyday to collect only a specimen or two before submitting all the samples to laboratories for processing, is an “operational nightmare.”

With this, Gordon urged that there should be a discussion with the IATF to address the problem.

“Dapat makita nila ang problema ng Coast Guard, ng airport, ng mga hotel, at ng mga medical technologists at healthcare workers [They should see the problem of the Coast Guard, the airport, the hotels, and the medical technologists and the health-care workers],” Gordon said.

Cacdac concurred saying, “I agree na kailangan talagang repasuhin ’yung process given the sentiments ng ating OFWs, at ’yung mga logistics issues natin and budgetary issues sa ngayon.

[I agree that there is a need to review the process given the sentiments of our OFWs, and the logistics issues and the budgetary issues that we have now].”

He also said that the Department of Labor and Employment is currently discussing the matter with the Department of Health.

‘Foreigners with bogus quarantine bookings face outright deportation’

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HE Bureau of Immigration (BI) warned on Monday that it will block the entry and deport foreign nationals who would present “fake quarantine bookings.”

Immigration Commissioner Jaime Morente issued the warning following the implementation of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATFIED) resolution suspending the travel of foreign nationals into the Philippines.

“Only certain classes of foreign nationals will be allowed starting today, March 22, 2021, until April 21,” said Morente. “Despite this, we will still deport aliens who try to evade quarantine.”

Morente said that they will be doubly strict in ensuring foreign nationals submit valid and legitimate quarantine bookings, given the surge of Covid-19 cases in the country.

“Should foreign nationals be found to have faked their quarantine bookings, they may be referred by the Department of Tourism [DOT] back to the BI for the initiation of deportation proceedings, and they will also be black-

listed from the country,” said Morente.

A similar warning was issued by DOT on Tuesday, saying local tourists who present bogus swab test results may be imprisoned for up to six months.

Currently, Filipinos, as well as their spouse and children who are traveling with them, are allowed to enter the country provided that these foreign nationals are able to present a valid and existing visa at the time of entry.

Also allowed to enter are diplomats and members of international organizations, and their dependents with a valid 9(e)visaor47(a)2visa,andforeignseafarers for crew change with valid 9(c) visa.

Emergency and humanitarian cases may also be allowed to enter, as approved by the chairman of the National Task Force on Covid-19 or his duly authorized representative, while foreign nationals involved in medical repatriation duly endorsed by the Department of Foreign Affairs-Office of the Undersecretary for Migrant Workers Affairs and Overseas Workers Welfare Administration may also enter. Recto Mercene

AFP chief says Chinese flotilla still moored in Julian Felipe Reef

By Rene Acosta @reneacostaBM

Recto Mercene @rectomercene

& Butch Fernandez @butchfBM

A

RMED Forces Chief of Staff Lt. Gen. Cirilito Sobejana on Monday reported that a Chinese maritime flotilla has remained in Julian Felipe Reef, more than two weeks after the militia boats were spotted in the contested area by the Philippine Coast Guard.

“They are still there, and we are counting [the ships] properly,” said Sobejana, adding the military will officially issue its “take” on the Chinese ship’s presence in the country’s maritime territory, which Defense Secretary Delfin Lorenzana branded earlier as a “clear provocative action of militarizing the area.”

“We view with grave concern the presence of 220 Chinese militia boats in the Julian Felipe Reef [Union Reef] in the West Philippine Sea [WPS]. This is a clear provocative action of militarizing the area.

These are territories well within Philippine Exclusive Economic Zone [EEZ] and Continental Shelf where Filipinos have the sole right to resources under international law and the 2016 arbitral ruling,” Lorenzana said in a news statement issued on Sunday night.

“We call on the Chinese to stop this incursion and immediately recall these boats violating our maritime rights and encroaching into our sovereign territory. We are committed to uphold our sovereign rights over the WPS,” the defense chief added.

‘Diplomatic protest fired’

FOREIGN Affairs Secretary Teodoro Locsin tweeted late Sunday the Philippines has filed a diplomatic protest over the Chinese presence.

“Diplomatic protest fired off tonight; can’t wait for first light,” Locsin tweeted.

“I got the coordinates, so to speak. And relayed to my legal artillery, ‘Fire at will.’ Shell should be flying at first light. I don’t usually announce maneuvers but it seems everybody is baring his chest,” he added, admitting that the diplomatic protest was endorsed by National Security Adviser Retired General Hermogenes Esperon Jr. “I was in touch with the Secretary of National Defense but on another matter. The National Security Adviser, however, notified me of this

IN this photo provided Sunday, March 21, 2021, by the Philippine Coast Guard/National Task ForceWest Philippine Sea, some of the 220 Chinese vessels are seen moored at Whitsun Reef (Julian Felipe Reef), South China Sea on March 7, 2021. The Philippine government expressed concern after spotting more than 200 Chinese fishing vessels it believed were crewed by militias at a reef claimed by both countries in the South China Sea, but it did not immediately lodge a protest.

particular situation,” Locsin said.

The country’s top envoy shot down the suggestion by a netizen to bring in a third-party mediator in the hope of convincing China to stop its aggressive behavior in the contested waters.

“You bet, bring in mediators it will be when we lost our reef: a third party saying, Stand down, both sides did; withdraw, we did, the other side did not; and all the third party said was, Oh, well, such is life. The strong do what they want, the weak suffer as they must. Thucydides.”

Locsin was referring to the Scarborough Shoal standoff between the Philippines and Chinese fishermen caught illegally fishing in the shoal in 2012. The United States, as third-party mediator, reportedly told the Philippines to withdraw at the same time as the Chinese. When the Philippines left the shoal, the Chinese remained and had remained in control of the shoal since then.

At the same time, Locsin toned down his statement after being told that the ships look like dredgers. “Wait, this might be dredgers.

Precision of fact and law is the only weapon of the weak,” he added.

The three-time Makati congressman agreed to a tweet, which said Congress should “look into the intelligence fund of the AFP [Armed Forces of the Philippines], since it appears they are not up to par knowing the latest developments in the WPS.” Sobejana said the military is properly running through the numbers of the Chinese militia ships moored at the reef, where from the nearby Pagasa Island, at least eight Chinese fishing vessels were also seen as of Tuesday, according to Esperon.

Zambales gov tests positive for Covid-19

By Henry Empeño Correspondent

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BA, Zambales—Zambales Governor Hermogenes Ebdane Jr. announced on Monday that he has tested positive for the coronavirus disease (Covid-19) and is now in isolation to prevent further transmission of the virus.

Ebdane said he tested positive last Sunday in a post on “Zambales for the People,” which is the official Facebook page of the Zambales provincial government.

“It is rather unfortunate that I have been found infected by the Covid-19, after undergoing rapid antigen test, where I was reactive and further confirmed by the RT-PCR results yesterday afternoon, March 21, 2021,” Ebdane said.

“I have been strictly adhering to health protocols, however, due to the nature of our work, unnecessary exposure to the virus is inevitable,” he added.

“I am now confined [in isolation] to prevent further contacts,” Ebdane also said.

To help identify those whom he might have close contact with, the gov-

I am now confined [in isolation] to prevent further contacts.

Zambales Gov. Hermogenes Ebdane Jr.

ernor listed down his movements in the past few days. He said he attended an assembly of the League of Provinces of the Philippines (LPP) at the Edsa Plaza Hotel on March 12 with 12 other governors, including LPP President Presby Velasco of Marinduque.

Ebdane said he and the 12 governors were in the assembly face-to-face, while other members joined via Zoom.

On March 17, Ebdane said he was with Zambales Provincial Planning and Development Office head Edwin Ebdane and some staff for the 6th full council meeting of the Central Luzon Regional Development Coun-

Editor: Vittorio V. Vitug • Tuesday, March 23, 2021 A3

BM

cil via videoconferencing.

Ebdane said he also conducted onsite inspection of bridges under construction at barangays Felminda Diaz and Cadmang Reserva in Cabangan, Zambales on March 18.

The following day, March 19, the governor presided over an emergency meeting with the provincial government’s Technical Working Group on issues and concerns of Department of Education-Zambales Holy Week activities protocol, and reopening of the provincial tourism industry.

“It is suggested that all those who were present and participated

in those events undergo Covid-19 testing, including those who think got exposed during the period of March 12 to 19, 2021,” Ebdane also said in his announcement.

As of Sunday, the Zambales province has recorded a total of 1,079 confirmed Covid-19 cases, including 11 new cases. Current figures placed active cases at 108.

Zambales has also posted a total of 946 recovered cases and 24 deaths attributed to Covid-19.

On Sunday, the Provincial Health Office also announced that the President Ramon Magsaysay Hospital in this capital town has reached critical admission level due to the number of Covid-19 cases therein.

Because of this, Provincial Health Officer Noel Bueno said they have to limit the number of non-Covid cases admitted into the provincial hospital and endorse such cases to district hospitals in Candelaria and San Marcelino towns.

Prior to this, Ebdane had ordered the Zambales Inter-Agency Task Force to strictly enforce health protocols in the province to control the growing number of Covid-19 cases in the province, especially during the Holy Week.

PHILIPPINE COAST GUARD/NATIONAL TASK FORCE-WEST PHILIPPINE SEA VIA AP

The Julian Felipe Reef is located about 175 nautical miles from Bataraza, Palawan, which is well within the country’s EEZ. The US military has declared that maritime militias and their ships in the WPS are considered as “targets” should a shooting war erupt between American and Chinese forces.

Sobejana’s statement on the presence of the Chinese vessels was issued following an aerial patrol that he ordered and carried out by a fixed-wing aircraft.

“The patrol mission was completed at around 11:30 [a.m.] today [Tuesday]. The report is now being prepared by Com, WESCOM [commander, Western Command] to be submitted to AFP Chief, and the NTF-WPS [National Task Force for the West Philippine Sea] through the DND [Department of National Defense],” military spokesman Major Gen. Edgard Arevalo said in a separate news statement.

Following the reported presence of Chinese militias in the reef, Lorenzana said they are coordinating with the NTF-WPS and the Department of Foreign Affairs for appropriate action “in the context of protecting the welfare of our Filipino fishermen, our marine resources, and maintaining peace and stability in the West Philippine Sea.”

P800-billion ‘reparation’

OPPOSITION Sen. Risa Hontiveros on Monday joined mounting protests against the presence of Chinese militia vessels brazenly intruding into the WPS territory and affirmed her support for the filing of a formal diplomatic protest, warning that such a “severe provocation” is only likely to escalate tension in

the region.

The lawmaker lamented that such a sneaky maneuver involving such a number of Chinese maritime militia vessels spotted by the Coast Guard in the WPS calls for a strong diplomatic protest against China.

“While we are scrambling to contain rising Covid cases amid the contagion in the country, China does with impunity intruding in our territory,” the senator said, adding: “Habang nagkakandarapa pa tayo sa pagtaas ng mga kaso ng Covid-19 sa bansa, ang Tsina naman walang pakundangan ang pagsulong sa ating karagatan.”

Hontiveros asserted that “not aggravating the tensions in our seas is the absolute least China could have done in the middle of a global pandemic. Respeto nalang sana, hindi pa maipakita,” she added.

The senator, who has been vocal about China’s incursions in the WPS, deplored that “the presence of the Chinese vessels in Philippine territory does not build peace or stability in the region.”

She suggested that as the diplomatic protest takes its course in this issue, the Duterte administration “should also study more tangible ways to make China pay.”

Hontiveros also reminded the environmental damage and the natural resources that could be further lost due to the presence of the vessels in Julian Felipe Reef, which is within the Philippine Exclusive Economic Zone and Continental Shelf.

“We have exclusive rights over the resources—fish, oil, and natural gas in Julian Felipe Reef. Atin lang dapat iyan pero pilit na naman nangaagaw ang Tsina ng mga bagay na hindi kanila. Nakakagalit. It’s maddening how China continues to snatch away our nation’s wealth, while we’re in the depths of an economic crisis,” the lawmaker bemoaned.

Hontiveros reminded earlier that China, in fact, “owes Filipinos over P800 billion in marine damage and losses due to its adventurism in the WPS,” recalling that last April 2020, she filed Senate Resolution 369 demanding that China pay P200 billion worth of reparations, which could be used in the country’s fight against Covid-19.

She surmised that “China really has no plans of recognizing and respecting the 2016 Hague ruling that favors our country. Hindi na nakakatuwa ang patuloy na panggagahasa ng ating likas-yaman. Mag-ipon na ang Tsina kasi magbabayad sila,” the senator asserted.

PAL to airlift 400K doses of Sinovac vaccines from Beijing on Wednesday

F

LAG carrier Philippine Airlines (PAL) will airlift the remaining 400,000 doses of Sinovac vaccines from Beijing on Wednesday, March 24, 2021, to complete the one million doses China has donated to the Philippines’s fight against the contagion.

PAL will send a Boeing 777 aircraft, which will be used to airlift the vaccines and expected to land at Ninoy Aquino International Airport (Naia) around 7 a.m., Wednesday, March 24, 2021.

“PAL consider this feat as a milestone because we are the first local carrier able to pick up the most needed vaccines for the people of the Republic of the Philippines,” said spokesman Cielo Villaluna.

Chinese Ambassador to the Philippines Ambassador Huang Xilian and Vaccine czar Carlito Galvez Jr. and PAL officials are expected to welcome the Sinovac shipment at Naia.

The arrival of 400,000 more doses

brings China’s total donation to the Philippines to 1 million after the 600,000 doses that was flown in on February 28.

The country’s vaccination program, which aims to inoculate between 50 million and 70 million Filipinos this year to reach herd immunity, kicked off with Sinovac doses.

The Philippine government also finalized its P700-million purchase of another million doses of the Chinese-made vaccine scheduled to arrive by April this year.

The country’s Food and Drug Administration (FDA) has also issued an emergency use authorization to buy Sputnik V vaccine manufactured

by Russian medical-research institute Gamaleya National Center of Epidemiology and Microbiology.

The UK medical journal, The Lancet, said the vaccine has overall efficacy of 91.6 percent in preventing Covid-19.

BusinessMirror

A4 Tuesday, March 23, 2021

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

24/7 BUSINESS PROCESSING INC. 5th-6th-7th Flr. 81 Newport Bl Newport City Brgy. 183 Pasay City 1.

CHU, ZHUQIN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

2.

GUO, MEIYU Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

HUANG, JINFENG Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

3.

NO.

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

POSITION

NO.

31.

ZHAO, ZIYAO Chinese

CUSTOMER SERVICE REPRESENTATIVE

32.

ZHONG, YANGYANG Chinese

33.

WANG, YAN Chinese

POSITION

NO.

62.

LUO, KAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CUSTOMER SERVICE REPRESENTATIVE

63.

MENG, XIANGKUO Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

64.

ASTRALPOOL INC. Unit 25d 2/f Zeta Ii Bldg. 191 Salcedo St. San Lorenzo Makati City

96.

VIVI ANDRIANI Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

65.

WEI, YUEYUE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

97.

WILLY Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

CHINESE SPEAKING ADMIN ASSOCIATE

67.

ZHANG, ZHEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

99.

HE, LIN Chinese

IT STAFF

XIAO, YUNYUAN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

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ZHANG, MING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

69.

LOW BAO YU Malaysian

MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE

37.

HUYNH VINH XI Vietnamese

CS ASSISTANT MANAGER (MULTI-LINGUAL

SONG, BIN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

38.

NGUYEN THIEN CHI Vietnamese

CS SHIFT SUPERVISOR (MULTI-LINGUAL)

YANG, WENWEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

XIANG, GUIBING Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

12.

TANG, WEI Chinese

35.

MA, RUI Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

BAYVIEW TECHNOLOGIES, INC. 43/f Yuchengco Tower Rcbc Plaza Ayala Ave. Cor. Sen. Gil Puyat Ave. Bel-air Makati City

YANG, TE Chinese

TONNY JON Indonesian

ZET ENDRYE CORNELIS RINDU Indonesian

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

11.

95.

98.

LI, LE Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

CHINESE CUSTOMER SERVICE REPRESENTATIVE

CHINESE CUSTOMER SERVICE REPRESENTATIVE

6.

WANG, YUELI Chinese

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

XIONG, JIAQUAN Chinese

36.

9.

SUDARMAN Indonesian

66.

LI, TAO Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

94.

CHINESE SPEAKING ADMIN ASSOCIATE

5.

WANG, YUDIE Chinese

POSITION

SUN, JIAN Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

8.

FOREIGN NATIONAL / NATIONALITY

34.

JI, PENGTAO Chinese

7.

ESTABLISHMENT / ADDRESS

FOREIGN NATIONAL / NATIONALITY

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

4.

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BIG EMPEROR TECHNOLOGY CORP. Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City

GENX SPORTS & MEDIA PRODUCTION CORP. 11/f Aseana I Bldg. Bradco Ave. Aseana City Tambo Parañaque City 70.

CHOK WUI KIONG Malaysian

CUSTOMER SERVICE REPRESENTATIVE MALAYSIAN SPEAKING

71.

DU, GENTAO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

39.

CHENG, YI Chinese

MANDARIN LANGUAGE SPECIALIST

GLOBAL B2B CONSULTANCY, INC. 50/f Pbcom Tower 6795 Ayala Avenue Bel-air Makati City

40.

FU, LI Chinese

MANDARIN LANGUAGE SPECIALIST

72.

41.

LI, TING Chinese

MANDARIN LANGUAGE SPECIALIST

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

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

42.

LIANG, QINJIE Chinese

MANDARIN LANGUAGE SPECIALIST

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

43.

13.

YU, FEI Chinese

YAN, JUNQUAN Chinese

MANDARIN LANGUAGE SPECIALIST

14.

ZHANG, XIAO Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

10.

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City 15.

HU, SHENGPING Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

LI, YANG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

17.

LI, HENG Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

18.

LI, WEIQUAN Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

19.

LIU, LE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

QUAN, BOBO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

16.

20.

21.

TRAN HOA LONG Vietnamese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

22.

ZHAO, JIAQI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

AIR LINK INTERNATIONAL AVIATION COLLEGE, INC. Air Link Bldg. Domestic Rd. Brgy. 191 Pasay City 23.

HAN, SANGJUN South Korean

CHIEF FLIGHT INSTRUCTOR

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

BIGCAT SOFTWARE SOLUTIONS, INC. 18/f Pbcom Tower, 6795 Ayala Avenue Cor. Rufino Street Salcedo Vill. Bel-air Makati City 44.

LINA Indonesian

BAHASA INDONESIAN LANGUAGE-SUPERVISOR CUSTOMER SERVICE

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

SHE, LUMING Chinese

CUSTOMER SERVICE CHINESE SPEAKING

LOGICDOSE INC. 19f Marco Polo Ortigas, Sapphire Road Ortigas Center San Antonio Pasig City 100.

WANG, YAROU Chinese

CHINESE INFORMATION SECURITY ANALYST

101.

YANG, XIANGHAO Chinese

CHINESE INFORMATION SECURITY ANALYST

102.

IVAN SUWANTONO Indonesian

TECHNICAL SUPPORT ASSOCIATE (MULTI-LINGUAL)

103.

YAP MAN HORNG Indonesian

TECHNICAL SUPPORT ASSOCIATE (MULTI-LINGUAL)

M AND J SOLUTIONS PROVIDER INC. Ub 111 Paseo De Roxas Bldg. Paseo De Roxas San Lorenzo Makati City 104.

VASILEVA, OLESIA Russian

MARKETING STRATEGY CONSULTANT

MELCO FACTORY AUTOMATION PHILIPPINES INC. #128 Lopez-rizal Brgy. High Way Hills Mandaluyong City

73.

CAO, XIANJIE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

74.

HUANG, YIHONG Chinese

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

75.

KONG, DELI Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

106.

ARR PHAR Myanmari

CHINESE CUSTOMER SERVICE

LI, KE Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

107.

AUNG KHANT SOE Myanmari

CHINESE CUSTOMER SERVICE

108.

AUNG PYAE SONE Myanmari

CHINESE CUSTOMER SERVICE

77.

LI, MENGSHUO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

109.

BEN, HENGQI Chinese

CHINESE CUSTOMER SERVICE

76.

105.

WATANABE, TAKUYA Japanese

MANAGER

45.

HAN, HUI Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

46.

YANG, XINGMING Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

78.

WEI, KEDUO Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

110.

CHEN, XIAOHAN Chinese

CHINESE CUSTOMER SERVICE

47.

YU, WENQI Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

79.

WANG, WEI Chinese

MARKETING STAFF MANDARIN SPEAKING

111.

DIAO, XIN Chinese

CHINESE CUSTOMER SERVICE

48.

ZHANG, XIYU Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

112.

DING, LIANG Chinese

CHINESE CUSTOMER SERVICE

113.

FANG, YUPENG Chinese

CHINESE CUSTOMER SERVICE

114.

FU, DONGDONG Chinese

CHINESE CUSTOMER SERVICE

115.

GUO, ANCHUAN Chinese

CHINESE CUSTOMER SERVICE

116.

HE, WENZHI Chinese

CHINESE CUSTOMER SERVICE

117.

HONG, JIECHAO Chinese

CHINESE CUSTOMER SERVICE

CIPEC CONSTRUCTION INC. U-1202 Global Tower Condo Gen. Mascardo Cor. Capt. M. Reyes Sts. Bangkal Makati City 49.

SUN, HAO-FU Taiwanese

SITE DIRECTOR

50.

KUO, TA-JUNG Taiwanese

TURNOVER MANAGER

CHAI CHUNG SANG Malaysian

80.

MARKETING CONSULTANT (MANDARIN SPEAKING CLIENTS)

FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City

JI, NINA Chinese

CHINESE PURCHASING SUPERVISOR

JADEMUD CORP. Unit 2304 Antel Global Corporate Center Doña Julia Vargas Ave., Ortigas Center San Antonio Pasig City 81.

FLY ASIAN INTERNATIONAL CORPORATION Eighty One Newport Blvd. Newport City Va, Brgy. 183 Pasay City 51.

HAITIAN DEVELOPMENT CORP. Ug 09 Tower B Palm Tower 7706 St. Paul Rd. San Antonio Makati City

LEE, CHAN YOUNG South Korean

MARKETING MANAGER

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

82.

ANGEL TANDIAN Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

118.

HU, XINGHAO Chinese

CHINESE CUSTOMER SERVICE

83.

CALVIN APRILLIO Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

119.

HUANG, KENAN Chinese

CHINESE CUSTOMER SERVICE

52.

HAN, SEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

84.

DANIEL Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

120.

HUANG, YUHUI Chinese

CHINESE CUSTOMER SERVICE

53.

HOU, MENGSEN Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

85.

EDDY SUSANTO SOFJAN Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

121.

HUANG, HONG Chinese

CHINESE CUSTOMER SERVICE

24.

THIHA NAING Myanmari

CHINESE CUSTOMER SERVICE

54.

HU, FEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

86.

KONE KYU Myanmari

CHINESE CUSTOMER SERVICE

25.

CHINESE CUSTOMER SPECIALIST

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

122.

ZHANG, LIJUN Chinese

FLORENCIA TANDIKA Indonesian

55.

HUANG, HE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

87.

HERRI CHANDRA Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

123.

LE THANH TAM Vietnamese

CHINESE CUSTOMER SERVICE

56.

LEI, LIXIANG Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

88.

KELVIN Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

124.

LI, ZUOYI Chinese

CHINESE CUSTOMER SERVICE

APLUS ACCEL INC. 9/f Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City 26.

FENG, ZHENGHUI Chinese

CUSTOMER SERVICE REPRESENTATIVE

57.

LI, PENGFEI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

89.

KELVIN HALIM Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

125.

LI, JIANFA Chinese

CHINESE CUSTOMER SERVICE

27.

HENG KHENG LEONG Malaysian

CUSTOMER SERVICE REPRESENTATIVE

58.

LI, BO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

90.

KURNIAWATI Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

126.

LI, JIANGTAO Chinese

CHINESE CUSTOMER SERVICE

28.

KOK CHOON SANG Malaysian

CUSTOMER SERVICE REPRESENTATIVE

59.

LIAO, TINGWENBAO Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

91.

NOVITASARI SARAGIH Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

127.

LIU, ZHIXIANG Chinese

CHINESE CUSTOMER SERVICE

29.

PUA YUI SENG Malaysian

CUSTOMER SERVICE REPRESENTATIVE

60.

LIN, YING Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

92.

ROMALIO SALTO Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

128.

LIU, YUTING Chilean

CHINESE CUSTOMER SERVICE

30.

XIE, BO Chinese

CUSTOMER SERVICE REPRESENTATIVE

61.

LIN, AIDE Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

93.

RONAN JUAN Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

129.

NGUYEN THI THAI Vietnamese

CHINESE CUSTOMER SERVICE

Economy

BusinessMirror Tuesday, March 23, 2021

A5

ADB opens $300-M fund for PHL and SEA nations’ post-Covid ‘green’ recovery

S

By Cai U. Ordinario

Asean Infrastructure Fund and managed by ADB. ACGF has published a set of green investment principles and eligibility criteria and created a pipeline of projects, including its first project approved for financing in 2020.

ACGF has attracted more than $1.4 billion in co-financing commitments, which will support the Green Recovery Program. ADB will prioritize the use of GCF funding under the program for investment projects in Cambodia, Indonesia, the Lao People’s Democratic Republic, and the Philippines.

The GCF approved the funding for the program during its 28th board meeting on March 19, 2021. Based in Songdo, Republic of Korea, GCF is a global fund created to help developing countries address the challenge of climate change.

ADB has received 12 funding approvals totaling $948 million since becoming an accredited GCF entity in 2015.

The ACGF supports more than $4 billion worth of green infrastructure projects across the region. All projects supported by the program will incorporate innovative green finance instruments and approaches.

The program aims to help SEA countries bridge a major gap in financing green infrastructure, with the region’s annual investment needs estimated to be $210 billion even before the Covid-19 pandemic swept across the world.

The gap is likely to have widened during the pandemic, as the region’s economy contracted by 4.4 percent in 2020, according to ADB.

@caiordinario

OUTHEAST Asian (SEA) countries, including the Philippines, may be able to tap the Green Climate Fund (GCF) to finance projects that will enable them to pursue green growth to recover from the pandemic, according to the Asian Development Bank (ADB).

In a news statement, ADB said $300 million of the GCF was allocated for the Manila-based multilateral development bank’s efforts to help Asean countries attain an environmentally sustainable economic recovery from the pandemic.

The Asean Catalytic Green Finance Facility (ACGF) Green Recovery Program aims to leverage GCF and ADB funds to catalyze financing from development partners and private capital sources.

“The ACGF Green Recovery Program is designed to kick-start a cycle of low-emissions investments during the first few years of a Covid-19 recovery,” said ADB Vice President Ahmed M. Saeed.

“The program would help Southeast Asian countries design green stimulus packages and projects that will create climate-friendly jobs, boost economic growth, and help countries fulfill their pledges under the Paris Agreement to reduce greenhouse-gas emissions.”

ADB said the Green Recovery

Program will provide technical assistance and concessional loans to about 20 green infrastructure projects across SEA. The projects, ADB said, will reduce carbon-dioxide emissions by 119 million tons and create 340,000 green jobs in key sectors over a period of 30 years.

These sectors, ADB said, includes sustainable transport, renewable energy and energy efficiency systems, as well as low-carbon agriculture and natural resources.

“The program seeks to accelerate the flow of green capital from banks, investors, and capital markets to Southeast Asia by helping de-risk and prepare bankable green infrastructure investments,” ADB ACGF Unit Head Anouj Mehta said.

“The program will also help countries scale up issuances of green and climate bonds to support sustainable growth in developing SEA.” The Green Recovery Program will be implemented according to the principles of ACGF, established by the

What is social selling?

By Henry J. Schumacher

I

WAS a salesman all my life. I am now watching with interest the change in selling tactics: Before: the 3 steps were cold calls, sales demos, qualify leads; Now: it’s using the social network, educate and engage.

Today, we have no choice but to make use of social selling, using social media to research, find, and understand sales prospects, network and engage in conversations in online communities with them, and build and strengthen relationships.

Luckily, young people are working with me along this new route.

Fortunately, before and today, our aim has to be to provide value to prospective customers by answering questions, responding to comments, and sharing content related to your expertise area.

Digital marketing principles can implement at an individual salesperson level or a firm level, but social selling requires an investment of time, effort, money and technology. Businesses can do it on a shoestring budget, but we need to invest in our social selling strategy to create quality content.

I am also learning that not many people today enjoy doing cold call-

ing and that many people do not like to receive cold calls. When I was starting in selling, I did no like cold calls also but we had no choice to do it to find new customers.

Recent studies indicate that over 90 percent of B2B buyers conduct research online and through social media before making a business purchase. Over 80 percent of senior executives use social media to aid their purchase decisions.

Cold calls today??? No, the buying behavior has changed in B2B markets. According to LinkedIn, 73 percent of B2B buyers prefer sales professionals referred by someone they know. Therefore, their professional networks are valuable information resource.

Here are a few steps I have learnt to optimize the social selling strategy:

1. A complete and professional profile

MAKE sure you complete every section of your social-media profiles.

Especially on LinkedIn. If someone clicks your profile, you want them to be able to find out what you do, how you add value, a link to your web site and any contact information so they can quickly get in touch.

Look at your profile from the point of view of a potential customer. Does your profile reflect that you are a credible professional?

2. Join and participate in groups

JOIN groups relevant to your area of expertise and industry. For example, if your target customers are small business owners, join groups relating to small businesses.

3. Create and share relevant content

CONTENT in social selling is used

as a touchpoint to engage and nurture leads through educating and informing them. Create and then share content based on your expertise. Think from your target audience’s perspective and create valuable content that those people would find helpful or interesting.

4. Expand your network

ONE of the easiest things you can do to grow your social presence is to expand your social networks to connect with more people. Connect with people and strive to create content that will encourage people to like your page, follow or connect with you.

5. Integration

SOCIAL selling is cross-functional with many components. Within an organization, a social selling team should include customer service, marketing and sales. Having these three areas integrated means they are aligned and share data that helps all three teams do their jobs better.

6. Research

BEFORE you start social selling, you need to identify the socialmedia networks that are the best fit for your business. It might be obvious what platform is the best fit, or it may take a little research. People share valuable information on their social media—sometimes what they want and need.

Whether traditional selling or social selling, one thing you must always have on top of your thinking process: integrity and ethics in sales are absolutely essential and non-negotiable!

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

A6 Tuesday, March 23, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The Taiwan bubble

A

New York Times article on March 13—“Covid? What Covid? Taiwan Thrives as a Bubble of Normality”—tells us how Taiwan fared in its battle against Covid-19. While the pandemic has gravely wounded the world—in our case, infections are getting worse despite a year in lockdown—life in Taiwan has been “startlingly normal.”

Taiwan has kept the pandemic well under control, with only 35 people in hospitals being treated for Covid as of last week, and just 10 Covid deaths.

“Every day, restaurants, bars and cafés are packed. Office buildings hum, and schools resound with the shrieks and laughter of maskless children….”

Amy Qin and Amy Chang Chien wrote. “This island of 24 million, which has seen just 10 Covid-19 deaths and fewer than 1,000 cases, has used its success to sell something in short supply: living without fear of the coronavirus. The relatively few people who are allowed to enter Taiwan have been coming in droves, and they’ve helped to fuel an economic boom.”

“The influx of people helped make Taiwan one of last year’s fastestgrowing economies—indeed, one of the few to expand at all. There was a brief slowdown at the start of the pandemic, but the economy grew more than 5 percent in the fourth quarter compared with the same period in 2019. The government expects 4.6 percent growth in 2021, which would be the fastest pace in seven years,” the article said.

The Taiwanese government is not even concerned about the late start of its vaccination program, because with so few Covid cases and low transmission rate, the sense of urgency is less than in countries like ours where the pandemic is surging. And yet, Taiwan-made Covid vaccines could be ready by July, its health minister recently reported.

“Some aspects of pandemic life have permeated Taiwan’s borders. Temperature checks and hand sanitizing are common, and masks are required in many public places [though not in schools],” the NYT article said. “But for the most part, the virus has been out of sight and out of mind, thanks to rigorous contact tracing and strict quarantines for incoming travelers.”

Domestic tourism is also booming in Taiwan, the article noted, as Taiwanese who had been used to taking short flights to Japan or Southeast Asia are now exploring their country, going to local tourist spots like Sun Moon Lake and the Alishan mountain resort.

Taiwan recently launched a travel bubble with Palau, and news reports say Singapore is next on its list.

In December, Singapore announced a unilateral lifting of restrictions for tourists entering the country from Taiwan, exempting them from the two-week mandatory quarantine and only requiring them to take a Covid test upon arrival.

Other countries like Japan, South Korea and Vietnam are all discussing the possibilities of travel bubbles with Taiwan.

Taiwan’s successful Covid containment—the world’s best according to many reports—was achieved despite its dense population (with many people living close to one another in apartments), despite its close proximity to China (and the frequency of travel between China and Taiwan), and despite it being shut out of the World Health Organization.

We have a lot to learn from our neighbor, indeed. Taiwan is so close to us that Filipinos can see it on a clear day from Luzon’s northernmost island of Batanes, which is actually nearer to Taiwan than Manila.

But we are leagues apart when it came to closing our borders early and tightly regulating travel, which went a long way to contain the virus in Taiwan. And our protocols are so inferior to Taiwan’s thorough and technology-enforced contact tracing and quarantine, as well as their people’s widespread observance of wearing face masks.

Taiwan learned valuable lessons from SARS and previous outbreaks that enabled it to better prepare for this pandemic. It developed a health-care system that is considered one of the best in the world.

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THE Entrepreneur

T

he rising cases of Covid-19 in the country are certainly a cause for alarm for everybody, including the business sector.

But there is no reason to panic over the latest surge—we’ve been through this before.

My optimist mindset tells me that we should look on the bright side of this latest spike. First and foremost, millions of doses of vaccines are arriving in the Philippines and funding is not a problem. Until the significant volumes of the vaccines arrive, however, we should be more cautious than before in living with Covid-19.

I do not want to lay the blame either on a particular sector or groups of individuals for the sharp rise in daily Covid-19 cases. We will not be addressing the problem that way.

Clearly, there were some lapses in the enforcement of the health protocols, and some of us may have lowered our guard.

Our experience in August last year when the daily cases shot up should be our best teacher. We did manage to contain the daily cases to less than 2,000 or even below 1,000 in the first two months of the year from nearly 7,000 in August, and there is no reason why we cannot bring the number of cases down again.

The targeted lockdowns resorted

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to by our health authorities, instead of regional or national lockdowns, succeeded in lowering the nation’s infection rate after the August surge.

We managed to reopen the economy step by step and gave back many jobs that were lost during the height of the pandemic.

These targeted lockdowns have worked in reducing the daily Covid cases in the Philippines, while reopening the economy at the same time. Shopping malls, fast-food restaurants and other small retail outlets slowly reopened and thousands of jobs were restored.

The current surge is no different from the August scenario.

But this time, we do not need a return to the stringent modified enhanced community quarantine status that restricted the mobility of our workers and limited business operations in general.

Authorities should implement targeted lockdowns to efficiently slow down the infection rate. I believe that confining the restrictive rules to pinpointed streets where there are notable Covid-19 cases

The government has just secured $1.2 billion worth of loans from the World Bank, the Asian Development Bank and the Asian Infrastructure Investment Bank to fund the procurement of vaccines against Covid-19. It’s just a matter of time before these vaccines are eventually rolled out across the Philippines. In the meantime, we should just chill out and not panic. Help is just around the corner. are more effective than placing a whole barangay, city or region under MECQ rules. Our barangay leaders can implement stricter contact tracing activities and 24-hour monitoring of infected persons.

New Covid-19 variants that are more contagious are certainly contributing to the current spike.

Nonetheless, I am confident that the arrival of the vaccines and an aggressive inoculation drive will ultimately defeat this virus.

The government has just secured $1.2 billion worth of loans from the World Bank, the Asian Development Bank and the Asian Infrastructure Investment Bank to fund the procurement of vaccines against Covid-19.

Ndiamé Diop, World Bank country director for Brunei Darussalam, Malaysia, the Philippines and Thailand, is himself confident about the additional funding secured by the Philippine government. Procuring and administering vaccines, he says, provides the Philippines an added

Watch for unintended consequences John Mangun

OUTSIDE THE BOX

Eduardo A. Davad Nonilon G. Reyes

BusinessMirror is published daily by the Philippine Business Daily Mirror

MEMBER OF

No need to panic

‘T

he law of unintended consequences is that actions of people—and especially of government—always have effects that are unanticipated or unintended. Economists have heeded its power for centuries; for just as long, politicians have largely ignored it.” That’s from Rob Norton, previously the economics editor of Fortune magazine.

The examples are boundless. The Four Pests Campaign of Mao Zedong targeted the elimination of rats, flies, mosquitoes, and sparrows, the latter because birds eat rice. Sparrows were pushed to near extinction in China, but rice yields declined because birds also eat plant-devouring insects. The Chinese government eventually had

to import 250,000 sparrows from the Soviet Union.

One European nation decided that the personal income tax rate should be 104 percent of all income above a certain level. Private sector surgeons stopped working because they were actually paying to perform delicate operations. One notable au-

“Soaring food prices are bound to cause social instabilities in EM countries as some people can no longer afford cooking oil to prepare their food,” says SocGen’s Albert Edwards. No worries. Just an unintended consequence. thor demanded that his publisher stop selling his books because he was losing money on every copy sold.

When situations like that occur, the government response is that they are shocked and surprised that anything they planned could possibly turn out in a way they never expected.

Not all unintended consequences are unexpected. Aspirin—acetylsalicylic acid—is used to reduce pain. Some people have the side effect—unintended consequence—of an upset stomach. However, aspirin is also used as part of the treatment of those who have had a heart attack, as it is

layer of defense against Covid-19 on top of public health measures or interventions like social distancing, wearing of masks and washing of hands.

Sharing this optimism is Finance Secretary Carlos Dominguez III. Our finance chief assured us that the government is on track of achieving its target of inoculating at least 70 million Filipinos following these new loans.

The Philippines is actually making progress in the procurement of vaccines from several sources.

Vaccine czar Carlito Galvez Jr. last week reported that the Philippines has secured 30 million doses of the Covid-19 vaccine developed by US biotech company Novavax Inc. Mr. Galvez signed a supply deal for 30 million Novavax doses during his visit the other week to the Serum Institute of India, the world’s largest vaccine producer. The Novavax shots will arrive in the Philippines most likely in the third or fourth quarter of 2021. The Philippines is also getting at least 1.4 million more Covid-19 shots from Sinovac this month.

The World Health Organization, through the COVAX facility, in addition, may deliver another 979,200 doses of AstraZeneca vaccines this week for a total of 2,379,200 doses.

It’s just a matter of time before these vaccines are eventually rolled out across the Philippines. In the meantime, we should just chill out and not panic. Help is just around the corner.

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

a blood thinner. Unintended.

The other problem when we discover that a government policy worked differently than was “intended,” maybe it was not a surprise. The magician knew that the rabbit might escape from the hat unexpectedly.

Maybe that was all part of the act.

Turkey seems to bounce from crisis to crisis about every six months.

Last week, the Turkish Central Bank hiked interest rates by 200 basis points. This allowed President Tayyip Erdogan to fire the Turkish central bank governor, on the job just over 3 months. This is the country’s fourth central bank governor in the last two years. The Turkish lira collapsed, but the president assured the country that “Erdoganomics,” with low interest rates, is the key to solving Turkey’s 15 percent inflation problem. If things get too bad, there can always be an “unintended” coup attempt as in 2016.

See “Mangun,” A7

Opinion BusinessMirror

www.businessmirror.com.ph

Tuesday, March 23, 2021 A7

‘Noong panahon namin’ 1SAMBAYAN–Unity in diversity Manny F. Dooc

Lyca Balita

TELLTALES

Onwards

H

ere’s a surefire way to make an older person smile: ask them about the games they played outdoors as children. They might tell you about the mud, heat, and streets, or the rubber bands, jolen, and cards. They beat online games, for sure. But there’s a more interesting way to make them smile, although for a completely different reason: ask them about the struggles of the early days.

My mother is a doctor, and she once told me that she was pregnant during the earlier part of her residency. Still, she was made to walk flights of stairs, refill water dispensers, and suffer all sorts of leg work.

She admits her fault since pregnancy was discouraged, but the “no mercy” treatment is still confusing to a nonmed student. There are similar horror stories in other fields, such as law, the military, and the corporate world.

It’s interesting how these stories and similar ones are told—with smiles, bittersweet chuckles, and shaking heads, even if all the adjectives to describe the experiences are negative: no mercy, traumatic, humiliating, and often coupled with tears and sleepless nights. It seems like the smiles are borne from relief that they are finally over, but not with the same happy reminiscence of outdoor games, which everyone wants to revisit.

This is the confusing part: why do some of these people, who have suffered in the hands of others, want the next generations to suffer the exact same thing they did? They knew the horrors of it. “Noong panahon nga namin, mas mahirap,” they say, in an attempt to justify putting new, enthusiastic people through the same difficulties they suffered.

Correlation does not imply causation. To illustrate, during the summer, the sales of airlines go up, and so do the sales of ice cream. But one does not cause the other: people buying flight tickets does not cause people to buy more ice cream, and vice versa. There is no causation. Again, correlation does not imply causation.

You are not great solely because you suffered. You became great because of what you’re made of, other people’s support, and whoever higher being you believe in. To attribute accomplishments solely to suffering is an insult to all these other factors. There are greats in the same field who had different mentors and experiences, yet they all ended up great all the same. There are people who suffered the same exact experiences under the same terror mentors but ended up in different places—some made it, some did not, and some ended up in completely unrelated fields. So maybe some of these methods are not so essential and unchangeable, after all.

Of course, challenges do help.

They strengthen, force diligence and discipline, and prepare for the real world. “It worked before. It will work again.” There are even rites of passages that are inherent in certain

Mangun. . .

Continued from A6

Biofuel using ethanol is great for the environment, or so they say. The US 2005 Energy Policy Act mandated blending biofuel with gasoline. Environmentalists loved the idea. So did corn farmers when the price went from $2 to $7.50. Not happy were producers who use corn for animal feeds, or consumers who saw beef prices go up from $2.50 to $5.

US President Biden’s green fuel policy using edible oils as fuel has pushed worldwide vegetable oil prices up, more than 70 percent in less than a year. “There’s been a new factor that has come after the election of President Biden that has projected higher demand for soy oil, which is 100 percent biodiesel,” leading edible oils analyst Dorab Mistry said. “Four refineries have already said that they will terminate

The “panahon namin” has long gone.

The present time is our time—panahon nating lahat. We’re all still here, aren’t we? So maybe once we get through these great doors, we can nudge these doors a little wider, and make it easier for the next greats in line. And when their children ask them about the stories of their past, they tell these experiences not with trauma and relief that they’re finally over, but instead with the same hopeful reminiscence and light in their eyes when they talk about the happy memories, like the games they played in the streets they would want to relive. fields: incredibly long shifts in medicine, hours of verbatim recitation in law, and physical exhaustion in the military, among others. But maybe the manner of execution does not have to be the exact same forever.

Correlation does not imply causation, after all. The terror alone did not cause greatness.

Maybe it’s possible to accomplish these rites of passage with more simplicity, empathy, and gentleness.

Greatness does not and should not have to come at the expense of happiness and mental health, after all.

Are the personal attacks and public criticism necessary? Are the traditional penalties effective? Can the concepts be simplified? Is there really no other way?

The doors to these professions and fields are already a challenge to reach and even more difficult to open. Some are dominated by a certain gender, age range, or privileged class; we know the struggle of getting in these places. But the “panahon namin” has long gone. The present time is our time—panahon nating lahat. We’re all still here, aren’t we? So maybe once we get through these great doors, we can nudge these doors a little wider, and make it easier for the next greats in line.

And when their children ask them about the stories of their past, they tell these experiences with you not with trauma and relief that they’re finally over, but instead with the same hopeful reminiscence and light in their eyes when they talk about the happy memories, like the games they played in the streets they would want to relive. Maybe the “panahon namin” can be made into a better “panahon nating lahat” if we just made this difficult world a little easier to be in.

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

refining fossil fuel [and] instead start producing vegetable oil-based fuel.” Strong Biden supporters love that idea.

“Soaring food prices are bound to cause social instabilities in EM countries as some people can no longer afford cooking oil to prepare their food,” says SocGen’s Albert Edwards.

No worries. Just an unintended consequence.

The Arab Spring protests in 20102012 spread across much of the Arab world as a “response to oppressive regimes,” corruption, police brutality, and high-income inequality. All true. But then again, in 2011 as the protests went critical, the price of bread—the absolute foundation of the diet in the region—was increasing by as much as 85 percent.

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.

Part One

I

S there such a thing as political unity? Can persons or groups of various political colors work together and form a rainbow coalition? Will they find the political pot of gold at the end of the rainbow by winning the presidential derby in 2022? Finding the end of the rainbow is a delusion since you cannot even see the colors of the rainbow up close. In the dog-eat-dog world of politics, can competing forces subordinate their individual interests to find a common good or aspiration? Is the term “united opposition” an oxymoron, which only exists in theoretical discussion or hypothetical treatise?

On March 18, 2021, a coalition for national unity called 1SAMBAYAN was formally launched in Makati City. The constituent members of the coalition include members of the Liberal Party, leftist groups like the Makabayan bloc, rightist group, the Magdalo, and other party-list organizations. Individuals who are prominent critics of the current administration were also in attendance. It’s a wide-ranging political spectrum, which stretches from the far left and extends to the far right.

The convenors include retired SC Senior Associate Justice Antonio Carpio, retired SC Justice and Ombudsman Conchita Carpio-Morales, former Secretary of Foreign Affairs Albert del Rosario, former Congressman Neri Colmenares, lawyer Howard Calleja, Partido Manggagawa Chair Renato Magtubo, former Secretary of Education and La Sallian

Brother Armin Luistro, and many other retired top government officials and distinguished leaders in the private sector.

There are many questions raised by political observers. Some of the foremost issues being asked are: Is unity achievable by the opposition in the face of a strong and widely popular leadership of President Duterte? Can disparate groups adhering to different ideological beliefs and political persuasions unite and successfully form an alliance? Can they set aside their differences and form a united front that can give the ruling party a run for their money?

Can the liberals and pro-democratic forces bury or resolve their contrarieties with the left and work with the progressives? Can they form a single slate of candidates who can share the same stage, stand on a common platform and face squarely the bets of

Duterte? The answers to these critical questions will spell the difference between victory and defeat in the next polls for 1SAMBAYAN. One encouraging development is that the Bayan Party-List has announced that they are willing to work with the group which includes the Magdalo group led by former Sen. Antonio Trillanes who is supported by a large following from the military. Unless they can overcome their differences, a united opposition will remain a pipe dream and they cannot afford it. Another six years of Duterte and his cohorts will blast the opposition, or any semblance of it, to kingdom come.

1SAMBAYAN is not open to every political opportunist who needs a vehicle to seek the presidency.

Justice Carpio spelled it out very clearly: “We are a coalition of democratic forces. We reject those who are identified with authoritarianism.

We reject those who are responsible for extrajudicial killings or who abet extra-judicial killings.” Having said that, 1SAMBAYAN has ruled out the possible consideration of popular politicians like Mayor Sara Duterte and Sen. Manny Pacquiao, who one way or the other, has supported Duterte’s program of government like the vicious anti-drug war.

Likewise, the public should be wary of false prophets whose pretensions may goad the less discerning Filipinos into believing that they will lead them to the promised land. These predators may actually be the same wolves in sheep’s clothing who have no scruples in betraying the people’s trust once they get elected into office.

They may carry an opposition banner, mouth fiery anti-Duterte slogans during the campaign, which they

will ditch once they occupy the office. 1SAMBAYAN must ensure that every individual or group joining the coalition is a genuine oppositionist who will reform our corrupt system.

Spearheaded by the three most revered former government officials, 1SAMBAYAN should attract more winnable candidates, widely supported and better funded. It can run a more efficient and effective campaign based on a more coherent, popular and relevant platform and program of government. But it should not underestimate the ruling party. Fighting the incumbent is a formidable challenge. Just like in 2019, it can marshall the infinite resources of the government. 1SAMBAYAN trusts that the military will remain neutral and impartial to ensure a clean and fair election.

Funding the campaign is a major headache in every election. But money chases the most likely winner. With a viable candidate, 1SAMBAYAN can build a war chest. If the opposition can draw a fair amount of support from the business sector, we may see a battle royale coming up in 2022. When asked if the group can raise the hefty amount needed to mount a successful national campaign, Carpio replied that for as long as 1SAMBAYAN supports a single viable candidate, campaign funds would come. In other words, build and they shall come. Build a campaign behind a winnable candidate, build a campaign organization that can face up to what the other party can dish out and offer and build a platform and program of government that will serve and protect the people. It’s a tall order but reclaiming democracy is not a walk in the park.

Presumed income from unrecorded expenses Fulvio D. Dawilan

Tax Law for Business

T

he due process requirements in the issuance of deficiency tax assessment oblige a call for payment of deficiency tax to state the facts, the law, rules and regulations or jurisprudence on which the assessment is based. The right to be properly informed is a basic right of every taxpayer, which cannot be ignored, and noncompliance of which will result in an invalid assessment.

There are common items present in almost every assessment issued by our tax authority after the conduct of examination by its revenue officers.

One of these is the tendency of the examiners to include an item of assessment described as “unaccounted source of cash,” “unaccounted expenses” or “unrecorded income due to unrecorded expenses/purchases.”

These and similar other descriptions are used by the examiners interchangeably but the usual inference is the same—since there is unrecorded expense/cost/purchase, there is correspondingly an unrecorded income.

And for that unrecorded income, deficiency income tax and value added tax (VAT) are accordingly imposed.

These usually result from discrepancies arising from the comparison by the examiners of the information provided by the taxpayer in its various reports/submissions with the other reports of the same taxpayer or with that of third parties.

The merits of these tax impositions had already been dealt with in

a number of cases. And the verdict is clear—no income tax and VAT assessment should be imposed on any finding for unrecorded expenses.

Court decisions had uniformly declared that there are three elements necessary in the imposition of income tax. These are: (a) there must be gain or profit; (b) the gain or profit is realized or received, actually or constructively; and (c) it is not exempted by law or treaty from income tax. Income tax is assessed on income received from any property, activity or service. As such, in the imposition or assessment of income tax, it must be clear that there was an income, and such income was received by the taxpayer, not when there is an under-declaration of purchases or expenses. A finding of “unaccounted source of cash” without further proof does not by itself result in the imposition of income tax. Tax authorities cannot assess a taxpayer with “undeclared income” solely on the basis of a finding that it has unaccounted

or undeclared expenses.

To emphasize, this message from the decided cases involving this issue is clear – an unrecorded expense cannot give rise to deficiency income tax. Similarly, it cannot give rise to a deficiency value-added tax.

In fact, the Courts had also repeatedly emphasized that for income tax purposes, a taxpayer is free to deduct from its gross income a lesser amount, or not claim any deduction at all. What is prohibited by the income tax law is to claim a deduction beyond the amount authorized therein. Hence, even granting that there is an undeclared disbursement, the same is not prohibited by law. Simply relying on the fact that there is an undeclared disbursement, an imposition or assessment of the subject does not hold water.

I agree that it is the taxpayer that would even be prejudiced with any reduction to its deductible expense because this would necessarily mean an increase in tax base, and as the tax base increases, the amount of tax payable to the government would likewise increase. To add an undeclared expense to the income of the taxpayer would result in double burden to the taxpayer—first, when he fails to claim the same as deduction, which results in the increase of his tax liability, and second is when it is added to the income, which also has the effect of further increasing tax liability.

I would like to add that the term “purchases,” “expenses” or “costs” are not similar to “income.” There is therefore no rhythm in concluding that, with an under-declaration of purchases, expenses or costs, there

would be a corresponding underdeclaration of income. This goes without saying that even if there is indeed undeclared expense, it is not necessary that there is a corresponding income. This fact alone does not translate to under-declaration of an income.

With these cases declaring the inappropriateness of an assessment from alleged undeclared expenses/ purchases, I believe this approach in determining the liabilities of taxpayers should be discontinued. This frees the resources of the parties and the Courts in resolving issues that had already been laid to rest by a number of decided cases.

I fully subscribe to the decisions of the Courts that in the imposition or assessment of income tax and VAT, there has to be an income, not when there is an undeclared disbursement.

The purpose of an examination is to recompute the taxes due from the taxpayer. Hence, instead of adding the noted discrepancy to the taxable income, the proper approach is to deduct the unclaimed expenses/ purchases from the taxable income as additional deductible expenses/ costs, not the opposite.

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

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

‘I blame the entire government, not the economic managers’ MAIL

I

write to correct an article published in BusinessMirror on March 22, 2021, titled “Econo-

mists: government miscalculated in loosening government restrictions.”

I was quoted as saying that “the economic team made their decisions without science and data.” I never said such a thing. What I said was that “government made their decisions without science and data and also oblivious of their own mismanagement of the pandemic.” That is in my written Viber answer to your reporter.

I blame the entire government, including the DOH, and other officials, not the economic manag-

ers, for the situation we are facing now. The loosening of the restrictions is the correct one, but there was a failure to manage the loosening of restrictions with the proper implementation of a testing, tracing, and treatment strategy. Moreover, the mixed messaging coming from government officials, who were shown to be violating health protocols, also contributed to the spike in cases, and not to the loosening of restrictions per se. The failure to secure vaccines earlier has also pushed the government

to resort to more restrictions as a response to the spike in cases.

In fact, in the same viber communication with your reporter wherein she quoted the Socio-economic Planning Secretary about the need to balance livelihood and public health, I expressed agreement with Secretary Chua.

Kindly publish this letter to make the correction known.

Calixto V. Chikiamco President, Foundation for Economic Freedom

A8 Tuesday, March 23, 2021

Govt eyes 25% Covid cases cut with ‘NCR Plus’ bubble

T

By Samuel P. Medenilla @sam_medenilla & Claudeth Mocon-Ciriaco | Correspondent

HE goverment expects to reduce the number of new Covid-19 cases per day by at least 25 percent after its two-week “travel bubble” around National Capital Region (NCR) and its surrounding areas.

On Monday, the government finally started restricting “nonessential” travel to and from the “NCR Plus,” which includes Metro Manila and the provinces of Laguna, Cavite, Rizal and Bulacan, in its attempt to slow down the recent surge in infections.

Monday’s new daily case log hit an all-time high of 8,019.

The Department of the Interior and Local Government (DILG) said the Philippine National Police has set up at least 20 “quarantine control points” to ensure only Authorized Persons Outside Residence (APOR) will be able to pass through the “bubble area” to stop the spread of the disease.

“Well, in the briefing of DOH [Department of Health], our target is to reduce by a minimum of 25 percent [daily Covid-19 cases], but we are hoping for more,” Presidential spokesman Harry Roque said in an online press briefing.

The travel bubble, which was supported by Metro Manila mayors, will last up to April 4, 2021.

Selective restrictions

DU R I NG t he t r av e l b u b b l e , Roque said most business operations and public movement in NCR plus will continue normally, except for selected establishments and mass gatherings, which will temporarily be sus-

pended from operating.

Catholic Bishops Conference of the Philippines (CBCP) Vice President Pablo Virgilio David questioned the government decision to ban religious activities, including masses, in the travel bubble, but still allow fitness centers and personal care services to continue operations.

“I was hoping they would at least allow a 20- to 30-percent maximum physical attendance in our Churches following strict protocol.

But no, they would not even allow us to celebrate Easter on April 4,” David said in a post in Facebook.

“Isn’t this a violation of religious freedom?” the Caloocan prelate added.

No financial aid

FOR their part, labor leaders criticized government’s failure to announce a new round of financial aid to workers, who may be temporarily displaced as a result of the “travel bubble.”

Without such aid, Trade Union Congress of the Philippines (TUCP) spokesperson Alan Tanjusay said affected workers will either suffer hunger or opt to violate quarantine restrictions to seek other means of livelihood.

Partido Manggagawa chairman Renato Magtubo said government could allocate funding for such aid through the passage of the pending Bayanihan 3 bill, while Kilusang Mayo Uno (KMU) chairman Elmer Labog said it could be funded by loans secured from the World Bank and Asian Development Bank (ADB).

Roque admitted there is currently no government cash aid for the affected workers and establishments, and instead the concerned government agencies and local government units (LGU) will help them using their existing programs.

Rising cases

CONCERNS over the capability of the government and health care facilities to handle the soaring infections were recently raised as the new cases of Covid-19 cases per day rose from 4,000 earlier this month to over 8,000 on Monday.

The spike in new cases this month caught many local chief executives in NCR by surprise prompting many of them to impose granular lockdowns, according to Metropolitan Manila Development Authority (MMDA) chairman Benhur Abalos.

LOCAL WOES, VOLATILE MARKETS TO WEAKEN PESO–FITCH SOLUTIONS

T

HE local currency is expected to start seeing weakness against the dollar due to local economic headwinds coupled with volatility among emerging markets, an international think tank said.

In a research assessment published on Monday, Fitch Solutions—the research arm of the Fitch Group—said the peso is likely to trade weaker this year, pushing them to revise their forecast of P47.50 to a dollar on average for 2021 down to P48.40 to a dollar.

“Investor appetite for the peso has been further dampened by rising oil prices, given the country’s net importer position, and a resurgence in Covid-19 cases in Manila in March. These headwinds are unlikely to abate in the near term, underscoring further peso depreciation,” Fitch Solutions said.

The think tank also warned that if the country’s Covid-19 cases continue to rise and restrictions become tighter in the coming weeks or months, foreign investor sentiment around the peso could weaken even further.

The peso weakness, accord-

ing to the think tank, will not be isolated for this year. For 2022, Fitch Solutions forecasts the peso to weaken further to the P50.00 to a dollar territory on average.

“Strong credit growth and an expected loose fiscal stance should see the peso trade weaker. Indeed, we forecast the current account to fall into a deficit of 0.4 percent of GDP [gross domestic product] in 2022. Twin fiscal and current account deficits will contribute to a weaker outlook for the peso,” Fitch Solutions said.

Even then, the think tank also said the risk to this outlook is still on the downside, and is especially anchored on the government’s ability to control the spread and roll out the vaccines.

“This outlook remains at risk given the expected slow vaccine rollout in the Philippines. Issues around relatively low levels of trust in vaccines and the country’s largest populous pose challenges and ultimately could see the Philippines still implementing mobility restrictions in 2022, hampering economic activity,” Fitch Solutions said.

‘Ensure food transport flows in NCR+ bubble’

By Jasper Emmanuel Y. Arcalas

F

@jearcalas

OOD sec u r it y advocac y group Tugon Kabayan urged the government on Tuesday to ensure the smooth transportation of perishable food products within Metro Manila and nearby provinces as authorities implement an NCR+ bubble over the next two weeks.

The group made this call follow ing the approva l of I ATF Resolution No 104, which imposed travel restrictions, allowing only essential travel into and out of Bulacan, Cavite, Laguna, Rizal and NCR from March 22 to April 4.

The group reminded the government that authorities on the ground should ensure that movement of goods and cargo remain unhampered amid the latest measure of the government to curb the spike of Covid-19 cases in the country.

The group recalled that during the early implementation of quarantine rules last year, some food-producing provinces experienced an oversupply of vegetables leading to income loss and food wastage.

“Let’s learn from the past and it seems we have really learned from last year. But we just want to remind everybody that it is important to ensure smooth flow of perishable goods, considering that the areas under [the NCR+] consist already of 30 million Filipinos,” it said in a virtual press briefing on Tuesday.

The group noted reports in the past year that transport of farm produce was hampered due to varying quarantine rules in every locality. Nonetheless, the group said they have not received these types of reports anymore from food producers.

T he g roup a l so prop ose d that the local government units (LGUs), especially those that

implement various forms of lockdowns such as Manila and Pasig City, distribute fresh produce instead of canned goods to create a win-win situation for both consumers and producers.

The group said the issuance of food passes, such as what the government did in March 2020 to ensure unhampered flow of domestic trade, may not be required this time if authorities on the ground are well-briefed that movement of food products is allowed.

“They may understand that the only ones allowed are cargo trucks, and by cargo trucks are really trucks. They should understand that fresh produce are delivered or transported not only through trucks but also via jeepneys, pick-ups and other forms of vehicles, especially for small producers,” it said.

Barring logistical delays, the group said enough fish is available in the coming Holy Week and months especially since the threemonth closed fishing seasons in the country’s major fishing grounds has been lifted.

“We have enough fish. Producers simply need to ensure that commodities from farms will reach consumers. We can ensure that produce will reach consumers especially those under stricter quarantine rules if the food pass system from last year will be implemented more efficiently and effectively,” it added.

The BusinessMirror earlier reported that the The Philippine Fisheries Development Authority (PFDA) continued to record an increasing volume of fish unloading this month and may even surpass the previous month ’s volume due to increased supply following the lifting of the closed fishing season. (Related story: https://businessmirror.com.ph/2021/03/19/fishunloading-at-navotas-port-torise-further-in-march-with-lifting-of-closed-fishing-season/) Continued on A2

PATIENTS are seen being treated at the emergency room of the Las Piñas General Hospital in this recent photo. Philippine hospital authorities advised people with mild Covid-19 symptoms to have themselves confined in smaller hospitals instead of the big ones, citing the latter’s having reached critical level in bed capacity. ROY DOMINGO

‘Most approachable’ CJ Peralta bids farewell to court

By Joel R. San Juan

C

@jrsanjuan1573

HIEF Justice Diosdado Peralta on Monday bade farewell to his colleagues and employees of the Supreme Court, where he presided during one of the most challenging eras for the judiciary, with rising extrajudicial killings and red-tagging of lawyers coming with the Covid-19 case spikes in the country.

Described by his colleagues as the “most approachable” chief magistrate, Peralta said the past year was more than difficult for the 29,000-strong employees of the judiciary. But, he stressed the members and officials of the SC have done everything to address all judicial concerns during this period.

Peralta was in his fifth month as the Chief Justice when the Covid-19 pandemic hit the country, prompting vital institutions, including the judiciary. to shut down operations for several months and while various places were placed on a lockdown.

“To say that the past year had been a difficult one is beyond an understatement. In both the personal and professional aspects of our lives, we all have had to deal w ith the numerous repercussions of this global health crisis we are still facing,” Peralta said at Monday’s last flag-raising ceremony given to a retiring chief magistrate.

“I and my fellow Justices of the Court had the unenviable task of drawing up Covid-19-related policies and measures for implementa-

tion in the courts nationwide, not only for the safety and welfare of the Judiciary’s 29,000-strong employees, but for those of all court users as well,” he added.

As of yesterday, there are 33 active Covid-19 cases in the SC. The hybrid flag-raising ceremony was a scale-down from the previous and traditional last flag-raising ceremony due to the pandemic.

It was without any arrival honors and attended only by a select few Court employees, mostly coming from the Office of the Chief Justice, including the Chief Justice’s immediate family—his wife, Court of Appeals Associate Justice Fernanda Lampas Peralta, and children.

The only two SC Associate Justices physically present were Rosmari Carandang and Henri Jean Paul Inting.

All those who attended wore face masks and face shields and practiced social distancing in strict compliance with public health standards for Covid-19.

They were spread out in the more than 1,200 square meter open grounds of the SC that was decorated with blue balloons.

The other justices virtually watched the ceremony and listened to the Chief Magistrate give his farewell speech.

Lawyers’ appeal

EARLIER, around 900 independent lawyers and members of various law faculties asked CJ Peralta to take proactive measures that would protect judges, lawyers and members of the legal profession from threats and killings.

Continued on A2

www.businessmirror.com.ph

Companies BusinessMirror

Tuesday, March 23, 2021

B1

DTI sets sights on ₧250-M venture fund for startups

Plan to build hospital depends on effective public transport—Ang

he Department of Trade and Industry (DTI) is targeting to launch a P250-million venture fund this year to finance the establishment and expansion of local startups.

T

T

By Tyrone Jasper C. Piad

The creation of the funding program is in line with the Innovative Startup Act, which was signed into law in 2019.

On Monday, the DTI, Department of Science and Technology (DOST) and Department of Information and Communications Technology (DICT) signed a related joint administrative order creating a steering committee tasked with harmonizing the efforts of the said departments. DTI

@TyronePiad

is the inaugural chair of the said committee.

Trade Secretary Ramon M. Lopez said during a virtual presser on Monday that the money for the program was included in the budget during its meeting with the National Development Company (NDC) last week.

The venture fund also aims to support product research and development, product manufacturing, sales

and marketing of startups.

“Although we were affected by the pandemic and there was a bit of difficulty in completing the process, nevertheless, it is in our agenda for this year and hopefully we will be able to launch that venture fund to be managed by NDC,” he said.

Rafaelita M. Aldaba, Trade undersecretary for competitiveness and innovation, said the number of beneficiaries of the venture fund will depend on the capital requirements of the startups.

For example, she said funding may range from P5 million to P25 million in each applicant, which means around 5 to 10 startups will be likely granted financing.

Aldaba added that the draft guidelines for the venture fund are currently being finalized. “We will be providing equity financing through the startup venture fund to qualified

innovative startups that have highgrowth potential,” she said.

Currently, Lopez said DTI is working with the Anti-Red Tape Authority and DICT to establish the Startup Business One-Stop Shop. This initiative aims to facilitate end-to-end registration of startups, in addition to serving as a portal keeping startup-related information.

Aldaba said the DTI is also working on a startup ecosystem mapping to “provide a comprehensive and inclusive overview of the Philippine Startup Ecosystem.” The insights generated from this initiative, she said, can help the government in crafting effective policies and programs.

“Together with DOST and DICT, DTI is always here to support our startups and foster innovation and entrepreneurship among our people,” Lopez added.

Imported car sales down by 15% in Feb W

ith the economy still struggling due to the pandemic, sales of imported vehicles registered a 15-percent year-on-year decline in February.

Data from the Association of Vehicle Importers and Distributors Inc. (AVID) showed that a total of 5,401 units were sold in February, which was lower compared to last year’s 6,342 units. Month-onmonth, however, sales inched up by 3 percent from 5,262 in January.

The total sales for the month were dragged by the double-digit declines in the passenger car (PC) and light commercial vehicle (LCV)

segments.

For the period, there were 1,518 PC units sold, which is 23 percent lower than the 1,982 units booked in February last year. LCV sales, meanwhile, dropped by 13 percent to 3,728 units from 4,299 units.

AVID data showed that sales of commercial vehicles (CV) soared by 154 percent to 155 units in February from just 61 units in the same month last year.

In the first two months of 2021, total sales of imported cars dropped by 10 percent to 10,663 units, from last year’s 11,890 units.

Year-to-date PC sales fell by 19 percent to 2,868 units from last

AllHome expands payment options

PAL will ferry only essential travelers

A

llHome Corp., the listed retail arm of the Villar Group, on Monday said it is strengthening its e-commerce platform, while offering flexible payment terms and other payment options to its customers.

The company that sells home and building materials said it will offer payment options, such as cash, debit card or credit card with zero percent installment up to 12 months on selected items, and allow mobile payment services such as AllEasy, GCash and Paymaya.

It will also allow bank-to-bank transfers or cash on delivery, for orders made online and thru personal shopper service, or opt for installment plans through Aeon and Home Credit.

“AllHome is strengthening its e-commerce platform and offering convenient payment options so that more Filipinos can have access to world class-quality products when it comes to building and furnishing their homes. By enabling them to shop and pay online, we are also offering them the experience of shopping at their leisure,” company chairman Manuel B. Villar Jr. said in a statement.

“AllHome is committed to boosting consumer confidence, which is critical as the market continues to recover from the pandemic. We remain optimistic that our efforts today will create a lasting impact on our new future.”

In April last year, at the height of the strictest quarantine measures when all of its Luzon stores were closed, AllHome launched its ecommerce platform allhome.com.ph, making its full line of furniture, home appliances and construction needs available to shoppers all over the country. VG Cabuag

year’s 3,540 units. Suzuki Philippines led this segment with sales of 1,334 units, followed by Hyundai Asia Resources Inc. (HARI) with 1,095 units sold.

Sales for LCV segment in the first two months slipped to 7,522 units, 9 percent lower than the 8,264 units sold last year. Ford Philippines took the lead with 3,228 units sold while Suzuki came in second with sales of 1,735 units.

Year-to-date CV sales grew by more than threefold to 273 units from 86 units in the comparable period last year. All these were accounted for by HARI. The slump in imported vehicle

sales may still continue, according to the industry group. AVID said, however, that recovery measures are already in place.

“And while we acknowledge that recovery will not come quickly, we remain focused on taking ‘baby steps’ at all fronts of our respective businesses and count on government to heed our call for a more comprehensive, long-term approach to reopening the economy by creating more job opportunities, upgrading infrastructure and logistics, and improving the ease and cost of doing business,” AVID President Ma. Fe Perez-Agudo said. Tyrone Jasper C. Piad

By Recto L. Mercene @rectomercene

P

hilippine Airlines (PAL) on Monday said it will allow only essential travelers in and out of the National Capital Region from March 22 to April 4, in line with the latest resolution of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF).

“PAL will only carry passengers traveling for non-leisure purposes between Manila and domestic stations within the said period,” said Spokesman Cielo Villaluna.

“If you are a leisure traveler already in a domestic destination and wish to return home, PAL will endeavor to operate flights to Manila to accommodate returning leisure travelers.”

Domestic leisure travelers affected by these restrictions may avail of any of the following options: n Convert their ticket to a Travel Voucher (request until June 30, 2021); n Avail of unlimited rebooking (no rebooking fee) until December 31, 2021. If they will complete their travel in the same booking class by June 30, 2021 (or ticket validity, whichever comes first), there will be no fare difference charge; n Refund their ticket without penalties.

Travelers may request any of the options via the myPAL Request Hub at https://mypal.vip/url/ RequestHub. For Returning Overseas Filipino (ROF), Locally Stranded Individual (LSI) or Authorized Person Outside of Residence (APOR), PAL said it will continue to accept them on flights, “provided that you secure all requirements by your Local Government

Photo from www.cebupacificaircorporate.com

Unit (LGU).”

Essential travelers must present valid identification showing proof of residence, on top of other requirements of their respective LGUs. For a guide on these travel rules and requirements, visit https://bit.ly/PALTravelsWithinPH. This is an evolving situation, PAL said, saying should there be new guidelines from the government on domestic air travel restrictions in and out of Manila, “we will keep everyone posted through our PAL Facebook Page and website www. philippineairlines.com.”

CEB advisory

Cebu Pacific (CEB) on Sunday said due to the rising cases of Covid-19 in Metro Manila and adjacent provinces, it will continue to operate its flight schedule as planned for the next 3 days.

However passengers who wish to postpone their flights and those traveling for non-essential reasons may select their preferred option through the Manage Booking portal on the Cebu Pacific website (http:// bit.ly/CEBmanageflight) up to two (2) hours before their scheduled time of departure: CEB said it is following the latest guidelines from the Philippine government, through the IATF, which has announced stricter guidelines

beginning March 22, until April 4.

During this time, only essential travel will be allowed.

CEB passengers affected by the new edict are advised to: n Rebook—Rebook for travel at no additional cost, following CEB’s permanent removal of change fees.

A minimal fare difference may apply; n Travel Fund - Store the amount in a virtual CEB wallet valid for two (2) years and use this to either book a new flight or pay for add-ons (e.g. baggage allowance, seat selection, etc.); n Refund—Due to the high volume of requests, the process may take up to 7 months from date of request.

Before going to the airport, CEB advised passengers to check the real-time status of f lights on its website: https://bit.ly/CEBFlightStatusCheck, along with travel requirements, safety protocols, and frequently asked questions (FAQs) via https://bit.ly/CEBFlightReminders.

“We will provide updates on flights from March 25 to April 4 in the coming days as more information becomes available. For other questions or concerns passengers may send a message via Charlie the chatbot on the Cebu Pacific website, or through CEB’s official Facebook and Twitter accounts,” the airline said.

By Lenie Lectura @llectura

he plan of business tycoon Ramon S. Ang to build a hospital that specializes in infectious disease research hinges on an effective public transportation.

“Kung may public transport na makakapunta nang madali, then I will proceed in building that right away,” said Ang. “Tinitignan ko iyong viability, kung madaling sumakay ang tao papunta roon. If you put up a hospital ang importante ay iyung transportation ng mga ordinary empleyado at iyong mga pasyente.”

He announced in September last year that the RSA Foundation would built a hospital on a 3- to 5-hectare property in the southern part of Luzon to help “future-proof society post-pandemic” and provide care for ambulatory patients.

He said last week that he bought a 10-hectare property in Laguna where the state-of-the-art facility would be located. “Nakahanap ako ng kapalit na lupa dito sa may Laguna, sa may tabi ng Brent. Meron akong nabili doon, 10 hectares.”

The hospital will also feature a research facility that will provide support for government on public health concerns, specifically, infectious diseases.

“This pandemic has been an

Ang

eye-opener for all of us. Our healthcare system needs to be strengthened. For this reason, we want to help build up our country’s capability to handle future pandemics and other health crises.

We envision this hospital to be resilient and adaptable. It will operate efficiently, improve health services, and make health care more accessible and affordable to a greater number of Filipinos,” Ang said.

Under Ang’s leadership, conglomerate San Miguel Corp. has earmarked P500 million out of its over P13 billion Covid-19 response package as donation to government and public and private hospitals. These funded the procurement of various medical-grade personal protective gear and lifesaving, capacity-building medical equipment.

B2

Companies BusinessMirror

Tuesday, March 23, 2021

PSE STOCK QUOTATIONS

March 22, 2021

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

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

41.3 103 82.1 23.35 7.51 9.37 45.55 9.5 22.05 22.85 55 17 118.2 69.8 1.58 3.96 3 1.34 0.77 142.5 2,300 0.97

43.5 103.4 83 23.5 8.38 9.38 46 10.28 23 23 55.2 17.5 118.9 70.5 1.59 3.98 3.09 1.45 0.78 146.5 2,400 1.03

43.25 101.3 82 23.6 8.48 9.5 45.5 9.51 23 22.9 56.7 17.8 119.8 69.6 1.51 3.97 3.01 1.34 0.8 142.1 2,300 0.98

43.25 103.7 83 23.6 8.48 9.5 47 10.28 23 23 56.7 17.8 121 70.5 1.6 4 3.15 1.46 0.8 146.9 2,300 0.98

43.25 100.6 81.5 23.35 7.47 9.3 45 9.48 23 22.7 55.2 17 117.1 69.6 1.51 3.91 3 1.34 0.78 141 2,300 0.98

43.25 103.4 82.1 23.35 8.38 9.37 45.55 10.28 23 22.85 55.2 17.5 118.2 70.5 1.58 3.99 3 1.46 0.78 146.5 2,300 0.98

200 8,650 2,489,660 254,003,768 1,469,180 120,729,092.50 21,300 499,225 5,800 48,276 210,700 1,976,684 5,947,800 273,928,620 4,300 40,904 100 2,300 177,100 4,049,910 520 29,151 7,500 131,452 631,340 74,845,771 6,060 423,541 1,443,000 2,245,590 97,000 385,740 52,000 156,760 3,000 4,140 200,000 158,000 4,600 666,525 165 379,500 104,000 101,920

-6,768,287 -50,042,974 -51,380 -646,671 7,176,925 -1,321,735 -26,544,622 111,750 6,040 -3,050 188,112 379,500 -

INDUSTRIAL AC ENERGY 6.99 7 6.78 7.16 6.7 6.99 25,613,300 178,980,048 ALSONS CONS 1.23 1.26 1.27 1.27 1.22 1.23 760,000 937,790 ABOITIZ POWER 23.75 23.95 23.5 24.2 23.45 23.95 2,112,800 50,306,130 BASIC ENERGY 0.68 0.69 0.7 0.73 0.65 0.68 85,855,000 59,729,340 FIRST GEN 29.8 29.9 29.5 29.9 29 29.9 287,400 8,538,895 FIRST PHIL HLDG 69.05 69.95 70.8 70.8 69 69.05 30,190 2,103,693 272.6 277 275.6 280 271.8 272.6 253,520 69,760,920 MERALCO 14.18 14.2 13.94 14.4 13.8 14.18 626,100 8,807,248 MANILA WATER 3 3.02 3.15 3.15 3.01 3.01 2,690,000 8,196,980 PETRON 3.63 3.64 3.59 3.64 3.58 3.64 25,000 89,890 PETROENERGY PHX PETROLEUM 11.5 11.78 11.8 11.8 11.4 11.78 7,500 86,936 PILIPINAS SHELL 20.5 20.75 20.4 20.5 20.2 20.5 256,700 5,237,835 SPC POWER 10.1 10.36 10.44 10.44 10 10.36 313,300 3,169,854 VIVANT 14.52 14.9 14.7 15.6 14.52 14.9 8,800 128,754 AGRINURTURE 6.71 6.88 6.91 7 6.52 6.88 1,166,200 7,952,303 AXELUM 3.04 3.15 3.02 3.15 3 3.15 874,000 2,662,880 CNTRL AZUCARERA 13 13.1 13.2 13.2 13.1 13.1 1,700 22,390 17.3 17.5 17.3 17.5 17.24 17.3 708,400 12,273,294 CENTURY FOOD 8.81 8.83 8.8 8.84 8.79 8.81 57,300 504,246 DEL MONTE 7.28 7.3 7.25 7.43 7.08 7.3 1,692,600 12,236,031 DNL INDUS 10.24 10.26 10.08 10.26 10.02 10.26 386,600 3,927,940 EMPERADOR 58.5 58.85 58.4 59 57 58.5 37,480 2,182,929 SMC FOODANDBEV 0.61 0.64 0.64 0.64 0.61 0.61 84,000 52,350 ALLIANCE SELECT FRUITAS HLDG 1.32 1.33 1.35 1.38 1.31 1.33 11,184,000 14,879,910 GINEBRA 50.25 51 51.4 51.45 50.25 51 28,990 1,485,668.50 JOLLIBEE 175.5 175.9 173 176 170.5 175.9 658,190 114,587,775 LIBERTY FLOUR 29 31 28.8 28.8 28.8 28.8 300 8,640 MACAY HLDG 7.04 7.6 7 7.7 7 7.6 8,100 58,853 5.72 5.8 5.7 5.8 5.67 5.8 211,100 1,205,365 MAXS GROUP 0.305 0.31 0.335 0.335 0.305 0.31 17,830,000 5,615,450 MG HLDG 6.8 6.85 6.88 6.88 6.6 6.8 518,700 3,514,740 SHAKEYS PIZZA 1.02 1.03 1.03 1.04 1.01 1.01 970,000 984,640 ROXAS AND CO 4.65 4.78 4.78 4.78 4.78 4.78 1,000 4,780 RFM CORP ROXAS HLDG 1.41 1.45 1.4 1.4 1.35 1.4 56,000 78,350 SWIFT FOODS 0.131 0.134 0.135 0.135 0.13 0.134 7,420,000 976,090 UNIV ROBINA 124.9 125 128 129.5 124.1 125 736,360 92,705,465 VITARICH 0.78 0.8 0.8 0.8 0.76 0.78 1,890,000 1,480,320 VICTORIAS 2.19 2.25 2.2 2.2 2.2 2.2 5,000 11,000 CONCRETE A 49.15 51.15 51.35 52 51.15 51.15 3,730 191,337 55.4 59.5 59 59 59 59 60 3,540 CONCRETE B CEMEX HLDG 1.1 1.12 1.14 1.14 1.08 1.1 3,933,000 4,330,670 2.58 2.6 2.42 2.62 2.27 2.58 11,346,000 28,126,280 DAVINCI CAPITAL 10.88 11 11.04 11.04 10.88 11 58,100 637,676 EAGLE CEMENT EEI CORP 7.27 7.45 7.5 7.5 7.12 7.27 207,500 1,503,790 5.3 5.39 5.55 5.55 5.25 5.3 761,300 4,190,767 HOLCIM MEGAWIDE 6.07 6.13 6.1 6.15 5.91 6.07 1,166,100 7,035,734 PHINMA 11.94 12.16 12.18 12.18 11.94 12.16 36,300 438,160 TKC METALS 1.08 1.1 1.08 1.1 1.05 1.08 549,000 588,090 VULCAN INDL 2.04 2.05 2.08 2.12 1.95 2.04 8,440,000 17,204,560 CHEMPHIL 142.1 159.5 142.1 142.1 142 142.1 150 21,312 CROWN ASIA 2 2.04 2.08 2.12 1.75 2 3,256,000 6,267,480 1.96 1.99 2 2 1.96 1.96 168,000 335,460 EUROMED 4.5 4.96 4.51 4.51 4.51 4.51 4,000 18,040 LMG CORP MABUHAY VINYL 4.31 4.48 4.4 4.48 4.3 4.48 20,000 87,640 PRYCE CORP 5.26 5.31 5.29 5.32 5.22 5.31 568,600 3,017,917 20.6 21.2 20.6 20.6 20.55 20.6 2,600 53,520 CONCEPCION GREENERGY 3.8 3.82 3.7 3.85 3.55 3.82 18,898,000 71,163,610 INTEGRATED MICR 9.81 9.83 9.96 10.08 9.5 9.81 783,200 7,732,169 IONICS 1.06 1.09 1.06 1.08 1.06 1.06 336,000 356,850 PANASONIC 5.79 5.89 5.57 5.57 5.5 5.5 25,500 141,330 SFA SEMICON 1.26 1.29 1.27 1.33 1.23 1.29 1,091,000 1,394,520 CIRTEK HLDG 5.61 5.62 5.69 5.69 5.56 5.61 1,270,800 7,139,330

-2,229,126 16,252,710 118,760 -416,330 -78,480 -21,851,258 1,288,366 -2,310,140 -441,680.00 35,000.00 8,922 -174,573 63,240 -1,117,492 43,950.00 4,074,869 -549,348.00 -221,732.50 332,780 1,005 -22,923,861 -108,200 -133,700 812,360 -92,530 -42,734,552 800 -1,445,620.00 -18,400 -46,212 2,258,686 -366,880.00 -97,440 -192,640.00 1,750 4,000 1,327,415 -3,287,580 -662,559 8,480 175,440 527,460

HOLDING & FRIMS ABACORE CAPITAL 1.02 1.03 1 1.05 0.97 1.02 25,236,000 25,595,280 ASIABEST GROUP 6.85 7 7 7 6.85 6.85 400 2,755 AYALA CORP 735 744.5 730 755 725 735 117,330 86,594,520 ABOITIZ EQUITY 36.2 37 36 37 35.7 37 995,400 36,469,940 ALLIANCE GLOBAL 10.28 10.3 10.28 10.38 10.1 10.28 1,648,100 16,915,036 AYALA LAND LOG 2.88 2.9 2.88 2.9 2.8 2.88 731,000 2,099,960 6.4 6.65 6.42 6.5 6.4 6.5 30,300 195,122 ANSCOR ANGLO PHIL HLDG 0.6 0.61 0.64 0.64 0.57 0.61 7,260,000 4,395,910 0.77 0.78 0.79 0.8 0.7 0.77 12,810,000 9,790,600 ATN HLDG A ATN HLDG B 0.75 0.89 0.78 0.89 0.71 0.89 591,000 453,390 5.16 5.18 5.16 5.16 5.05 5.16 909,500 4,662,544 COSCO CAPITAL 5.12 5.2 4.99 5.2 4.81 5.2 5,282,700 26,328,590 DMCI HLDG FILINVEST DEV 8.2 8.5 8.26 8.5 7.99 8.2 121,400 979,376 FORUM PACIFIC 0.24 0.255 0.237 0.237 0.237 0.237 30,000 7,110 GT CAPITAL 506 507 509.5 509.5 495 506 128,580 64,870,676 HOUSE OF INV 3.5 3.6 3.7 3.7 3.5 3.5 36,000 130,600 JG SUMMIT 57 57.3 59.8 60 57 57 2,187,450 125,726,840.50 1.05 1.06 0.95 1.18 0.95 1.05 19,316,000 20,854,620 LODESTAR 3.39 3.64 3.39 3.4 3.38 3.39 52,000 176,540 LOPEZ HLDG 13.5 13.54 13.4 13.68 13.08 13.5 1,350,700 18,197,748 LT GROUP 0.46 0.475 0.475 0.49 0.45 0.49 170,000 79,200 MABUHAY HLDG METRO PAC INV 3.77 3.8 3.75 3.81 3.7 3.78 10,599,000 39,866,040 3.5 3.69 3.31 3.7 3.31 3.55 16,000 54,730 PACIFICA HLDG PRIME MEDIA 2.91 2.92 2.95 3.1 2.74 2.91 15,022,000 43,850,990 REPUBLIC GLASS 2.4 2.79 2.79 2.79 2.4 2.4 92,000 256,290 SOLID GROUP 1.25 1.27 1.25 1.29 1.25 1.29 8,000 10,040 SYNERGY GRID 345 374 388 388 340 374 560 205,780 SM INVESTMENTS 960 961 950 968 940 961 327,880 314,373,560 118.8 119.5 114.9 120 110 119.5 165,500 19,336,209 SAN MIGUEL CORP 0.67 0.7 0.69 0.71 0.68 0.68 198,000 134,820 SOC RESOURCES TOP FRONTIER 135.5 143 135.6 143 135.3 143 1,660 233,798 0.238 0.245 0.24 0.245 0.238 0.245 550,000 133,550 WELLEX INDUS 0.192 0.194 0.196 0.196 0.194 0.194 2,860,000 558,530 ZEUS HLDG

346,480 -21,251,185 -1,618,015 1,264,508 144,320 123,060 -21,500 -1,731,886 -835,830 -32,086 -3,208,292 -43,000 -95,094,599 -17,960 -129,050 1,621,606 4,367,700 -572,470 -136,816,295 2,369,357 -30,030 4,800 -

PROPERTY ARTHALAND CORP 0.61 0.62 0.62 0.64 0.61 0.62 1,579,000 971,810 ANCHOR LAND 7.31 7.99 7.99 7.99 7.32 7.32 400 3,080 AYALA LAND 33.8 34.1 34.4 34.95 33.8 33.8 15,852,700 542,203,680 AREIT RT 32.45 32.5 32.65 32.65 31.9 32.5 410,700 13,320,635 BELLE CORP 1.42 1.44 1.45 1.45 1.41 1.44 307,000 435,850 A BROWN 0.82 0.83 0.84 0.85 0.82 0.83 1,240,000 1,028,130 0.77 0.79 0.79 0.79 0.77 0.79 206,000 159,760 CITYLAND DEVT 0.133 0.134 0.134 0.137 0.131 0.134 1,260,000 167,080 CROWN EQUITIES CEBU HLDG 6.24 6.34 6.22 6.34 6.22 6.24 284,600 1,793,323 CEB LANDMASTERS 5.39 5.4 5.44 5.44 5.35 5.4 731,100 3,927,076 0.385 0.39 0.39 0.39 0.385 0.39 1,410,000 544,650 CENTURY PROP 0.315 0.33 0.31 0.33 0.31 0.325 510,000 164,800 CYBER BAY DOUBLEDRAGON 14.18 14.22 14 14.28 13.28 14.2 3,696,200 51,631,854 DM WENCESLAO 6.68 6.75 7.14 7.14 6.61 6.68 23,000 155,405 EMPIRE EAST 0.275 0.285 0.28 0.285 0.27 0.275 1,260,000 349,950 EVER GOTESCO 0.088 0.09 0.09 0.09 0.09 0.09 10,000 900 FILINVEST LAND 1.12 1.13 1.11 1.14 1.1 1.12 15,259,000 16,955,670 0.87 0.89 0.87 0.94 0.83 0.87 570,000 496,180 GLOBAL ESTATE 7.28 7.29 7 7.29 7 7.29 6,900 49,525 8990 HLDG 1.34 1.35 1.32 1.36 1.26 1.34 3,263,000 4,253,510 PHIL INFRADEV 1.21 1.22 1.18 1.38 1.12 1.21 8,689,000 11,085,730 CITY AND LAND 3.37 3.38 3.4 3.4 3.3 3.38 6,571,000 22,226,920 MEGAWORLD 0.355 0.36 0.37 0.37 0.33 0.355 51,600,000 18,328,600 MRC ALLIED PHIL ESTATES 0.41 0.42 0.42 0.45 0.385 0.41 7,900,000 3,268,000 PRIMEX CORP 1.88 1.89 1.79 1.95 1.62 1.88 15,648,000 29,045,140 ROBINSONS LAND 17.82 18 17.72 18 17.3 18 1,051,100 18,708,176 PHIL REALTY 0.247 0.25 0.255 0.26 0.246 0.247 1,150,000 287,150 ROCKWELL 1.4 1.41 1.41 1.43 1.41 1.41 119,000 168,830 2.68 2.71 2.67 2.69 2.67 2.68 120,000 321,440 SHANG PROP 2.34 2.35 2.43 2.43 2.22 2.35 1,020,000 2,394,450 STA LUCIA LAND SM PRIME HLDG 33.9 33.95 34 34.75 33.55 33.95 8,616,000 292,986,215 3.65 3.84 3.65 3.85 3.64 3.85 7,000 25,720 VISTAMALLS SUNTRUST HOME 1.48 1.5 1.46 1.51 1.44 1.5 1,205,000 1,793,100 3.74 3.75 3.7 3.8 3.61 3.75 1,735,000 6,486,570 VISTA LAND

-37,200 -127,765,270 -7,623,235.00 29,200 17,710 28,514 77,050 -300 -448,752 35,100 -1,137,880 -4,650 7,000 -99,980 -179,340 -4,757,080 -320,650 1,950 1,908,800 -4,293,362 -39,710 308,010 -23,244,440 -47,630 -420,730

SERVICES ABS CBN 10.86 11 11.12 11.12 10.8 11 352,800 3,864,378 GMA NETWORK 7.3 7.35 7.35 7.37 7.12 7.35 2,023,800 14,785,845 MANILA BULLETIN 0.425 0.44 0.425 0.425 0.425 0.425 60,000 25,500 GLOBE TELECOM 1,928 1,930 1,910 1,936 1,900 1,930 26,460 50,904,745 PLDT 1,218 1,220 1,219 1,230 1,200 1,220 303,935 369,215,300 APOLLO GLOBAL 0.178 0.179 0.176 0.185 0.168 0.178 642,400,000 114,344,280 18.98 19 18 19.06 17.5 19 14,109,400 263,261,198 CONVERGE 3.64 3.7 3.8 3.8 3.58 3.64 298,000 1,106,130 DFNN INC 9.79 9.8 9.35 9.94 9.05 9.8 47,293,200 453,981,605 DITO CME HLDG 1.49 1.6 1.5 1.6 1.5 1.6 14,000 21,200 IMPERIAL JACKSTONES 1.93 2 1.97 2.04 1.93 2.03 38,000 75,460 NOW CORP 2.48 2.5 2.58 2.58 2.45 2.48 5,494,000 13,787,850 TRANSPACIFIC BR 0.42 0.425 0.45 0.45 0.405 0.42 31,720,000 13,581,450 PHILWEB 2.65 2.68 2.79 2.79 2.63 2.68 510,000 1,391,600 2GO GROUP 8.83 8.85 9.09 9.09 8.8 8.83 491,000 4,340,149 CHELSEA 3.37 3.44 3.64 3.64 3.3 3.37 2,037,000 6,958,910 CEBU AIR 44.7 44.8 45 46 42.8 44.7 222,200 9,960,500 123.7 124.5 123.5 125.7 122.1 123.7 437,830 54,176,276 INTL CONTAINER 16.6 17 16.54 17 16.54 17 10,600 175,970 LBC EXPRESS LORENZO SHIPPNG 0.93 1.05 0.97 1.06 0.93 1.05 64,000 61,190 MACROASIA 4.55 4.61 4.8 4.88 4.54 4.55 2,233,000 10,380,230 2.32 2.34 2.32 2.42 2.31 2.34 506,000 1,185,800 METROALLIANCE A METROALLIANCE B 2.4 2.6 2.4 2.4 2.21 2.4 14,000 32,840 PAL HLDG 5.9 6 6 6 5.85 6 31,400 187,072 HARBOR STAR 1.1 1.11 1.15 1.15 1.05 1.1 809,000 906,220 BOULEVARD HLDG 0.086 0.087 0.091 0.093 0.085 0.087 784,450,000 69,596,460 DISCOVERY WORLD 4.36 4.4 4.3 4.7 4.1 4.4 314,000 1,333,430 WATERFRONT 0.54 0.55 0.5 0.57 0.495 0.55 22,940,000 12,447,100 580 590 580 580 580 580 60 34,800 FAR EASTERN U IPEOPLE 6.98 7.25 7.91 7.91 7 7.11 99,300 702,376 0.365 0.37 0.37 0.37 0.365 0.365 2,350,000 865,050 STI HLDG 4.34 4.57 4.34 4.57 4.34 4.57 27,000 118,270 BERJAYA BLOOMBERRY 6.87 6.9 6.72 7 6.7 6.9 1,971,500 13,508,776 1.97 2.12 2.02 2.12 1.97 1.97 11,000 21,920 PACIFIC ONLINE LEISURE AND RES 1.69 1.7 1.7 1.7 1.7 1.7 99,000 168,300 PH RESORTS GRP 1.99 2 2 2.03 1.81 1.99 6,815,000 13,376,170 PREMIUM LEISURE 0.38 0.39 0.39 0.39 0.375 0.38 5,300,000 2,024,000 ALLHOME 7.6 7.8 7.5 7.8 7.32 7.8 383,500 2,930,914 METRO RETAIL 1.25 1.27 1.29 1.29 1.25 1.25 1,877,000 2,354,350 38.65 38.7 36.6 39.5 36.25 38.7 3,987,700 152,914,665 PUREGOLD 52.95 53 52 53.75 52 53 486,960 25,670,935 ROBINSONS RTL 90 93.1 93 93.2 90 92 1,540 141,810 PHIL SEVEN CORP 1.18 1.2 1.17 1.2 1.12 1.2 1,879,000 2,207,730 SSI GROUP 17.6 17.62 17.68 17.7 17.1 17.62 1,164,100 20,348,532 WILCON DEPOT 0.38 0.405 0.38 0.41 0.38 0.405 3,090,000 1,243,750 APC GROUP EASYCALL 6.68 6.8 6.72 6.8 6.68 6.8 48,200 322,986 GOLDEN MV 431 450 439 450 439 450 750 333,770 PAXYS 2.26 2.35 2.26 2.35 2.26 2.35 16,000 36,340 PRMIERE HORIZON 1.97 1.98 2 2.09 1.92 1.97 84,301,000 168,534,710 SBS PHIL CORP 4.2 4.31 4.2 4.2 4.18 4.2 8,000 33,580

11,815,570 -79,694,795 1,419,450 107,741,014 257,140 12,711,339 -56,920 326,100 -60,980 6,510 2,263,090 1,162,402 -921,150 -110,660 -2,052,560 4,400 -18,500 -638,306 229,400 502,092 4,040 417,210 154,000 -1,260,727 -1,546,450 21,504,725 1,032,769 3,640 -99,360 -3,938,444 -16,100 1,166,120 -

MINING & OIL ATOK 7.5 7.61 7.9 7.98 7.5 7.5 467,200 3,569,771 343,796 APEX MINING 1.41 1.43 1.43 1.43 1.4 1.41 1,594,000 2,238,160 19,860 ATLAS MINING 6.34 6.35 6.4 6.41 6.33 6.34 140,500 890,891 24,987 BENGUET A 2.27 2.42 2.39 2.42 2.39 2.42 149,000 356,220 BENGUET B 2.41 2.51 2.51 2.51 2.41 2.41 36,000 90,140 0.285 0.305 0.285 0.305 0.285 0.285 150,000 43,150 COAL ASIA HLDG DIZON MINES 8.5 9.2 8.44 9.2 8.44 9.2 4,100 36,556 FERRONICKEL 2.29 2.3 2.3 2.37 2.2 2.29 4,481,000 10,259,290 1,043,560.00 0.31 0.315 0.325 0.35 0.3 0.315 2,890,000 916,550 GEOGRACE LEPANTO A 0.13 0.132 0.13 0.135 0.128 0.13 4,110,000 532,900 MANILA MINING A 0.0098 0.0099 0.0098 0.0099 0.0098 0.0099 17,300,000 170,070 MANILA MINING B 0.0096 0.01 0.0099 0.0099 0.0099 0.0099 2,000,000 19,800 MARCVENTURES 1.15 1.16 1.16 1.19 1.11 1.15 1,487,000 1,709,630 39,140.00 NIHAO 1.72 1.88 1.95 1.95 1.5 1.72 75,000 130,660 3,600 NICKEL ASIA 5.05 5.06 4.98 5.15 4.83 5.05 4,323,400 21,719,538 202,800 OMICO CORP 0.385 0.42 0.39 0.39 0.385 0.385 130,000 50,250 3,900 0.82 0.84 0.81 0.85 0.81 0.82 1,569,000 1,289,410 -10,920 ORNTL PENINSULA 4.6 4.62 4.75 4.75 4.56 4.62 383,000 1,775,480 -107,460 PX MINING 11.82 11.92 11.98 12 11.4 11.86 2,560,000 30,301,862 -3,669,098 SEMIRARA MINING 0.0076 0.0077 0.0076 0.0079 0.0074 0.0079 105,000,000 792,300 UNITED PARAGON ACE ENEXOR 22.25 22.3 22.9 22.9 21 22.3 176,100 3,887,570 329,225 0.01 0.011 0.01 0.011 0.01 0.01 66,400,000 667,500 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 5,700,000 62,700 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.012 53,200,000 592,400 114,100 PXP ENERGY 8.48 8.5 8.52 8.52 8.38 8.48 405,500 3,431,893 116,541

PREFFERED HOUSE PREF B 100.2 101 100.2 100.2 100.2 100.2 500 50,100 ALCO PREF B 101.3 101.5 101.5 101.5 101.5 101.5 1,400 142,100 AC PREF B2R 515 521.5 515 515 515 515 810 417,150 -309,000 CPG PREF A 102 103.5 102.5 103.6 102 103.6 720 74,238 DD PREF 101.7 102 101.7 102.1 101.7 102 210 21,424 FGEN PREF G 107.5 109 107.5 107.5 107.5 107.5 23,030 2,475,725 503.5 504 503.5 503.5 503.5 503.5 100 50,350 GLO PREF P GTCAP PREF B 1,030 1,041 1,041 1,041 1,040 1,041 8,520 8,865,820 MWIDE PREF 99.9 100 100 100 100 100 14,860 1,486,000 4,000 100.1 101 100.1 100.1 100.1 100.1 500 50,050 MWIDE PREF 2A PNX PREF 3B 105 106 106.7 107 105 106 28,330 3,028,640 PNX PREF 4 1,008 1,009 1,006 1,008 1,006 1,008 6,030 6,076,200 2,529,080 PCOR PREF 2B 1,010 1,011 1,010 1,011 1,010 1,011 1,745 1,763,055 PCOR PREF 3A 1,070 1,119 1,065 1,120 1,065 1,119 7,500 8,395,205 PCOR PREF 3B 1,138 1,140 1,124 1,138 1,124 1,138 210 238,640 -113,600 SMC PREF 2C 78.1 78.45 78.5 78.85 78 78.45 5,080 397,622.50 SMC PREF 2E 75.9 77.85 75.9 75.95 75.9 75.9 54,600 4,144,560 79.3 79.4 78.9 79.3 78.9 79.3 35,040 2,774,148.50 SMC PREF 2F SMC PREF 2H 77.1 78.9 76.8 78.9 76.8 78.9 56,660 4,427,581 SMC PREF 2I 78.95 79 78.95 78.95 78.95 78.95 13,120 1,035,824 SMC PREF 2J 76.25 76.9 76.9 76.9 76.25 76.25 15,090 1,154,218.50 SMC PREF 2K 76.25 76.7 76.25 76.7 76.25 76.7 1,010 77,197 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.16 10.8 10.76 10.8 10.54 10.8 30,300 323,882 -158,734 GMA HLDG PDR 6.85 7.04 7.05 7.05 7.04 7.04 9,400 66,258 -

WARRANTS LR WARRANT 1.87 1.88 1.9 2 1.63 1.88 7,064,000 13,217,700 -13,790

SMALL & MEDIUM ENTERPRISES ALTUS PROP 18.7 19.1 19.5 20 18.5 18.7 233,500 4,442,350 9,750 ITALPINAS 2.33 2.37 2.3 2.42 2.26 2.34 1,018,000 2,395,410 106,210 KEPWEALTH 5.1 5.39 5.12 5.12 5.08 5.1 16,300 83,048 4,088 MAKATI FINANCE 2.53 2.6 2.54 2.54 2.53 2.54 21,000 53,240 MERRYMART 4.76 4.77 4.6 4.82 4.51 4.77 16,781,000 79,032,800 593,560

EXHANGE TRADE FUNDS

FIRST METRO ETF 96.9 97.4 97.65 98.5 96 96.9 66,550 6,463,951.50 -501,190

www.businessmirror.com.ph

Filinvest Land expands IPO size of Cyberzone Properties

T

By VG Cabuag

@villygc

he board of Filinvest Land Inc. (FLI) has decided to increase the number of shares it will offer via the initial public offering (IPO) of its unit Cyberzone Properties Inc. (CPI), which it will transform into a real estate investment trust (REIT).

The Gotianun-led property developer said on Monday that it will increase its main offer shares by 3.42 million shares to 1.63 billion shares, which will be sold through secondary offering.

Its over-allotment option, meanwhile, was increased by 342,494 shares to 163.41 million shares.

The said shares were priced at P8.30 per share or total proceeds of

P14.88 billion.

The said secondary offering represent at least a third of the outstanding capital stock of Cyberzone after the increase in its authorized capital stock to 7.13 billion common shares, with par value of P0.50 per share, the company said.

The company earlier said it will place certain office buildings leased to business process outsourcing

(BPO) firms in Alabang, Muntinlupa and Cebu in Cyberzone’s REIT. “We are looking forward to listing CPI as a REIT company because we believe that this will unlock the value of our office leasing business.

Filinvest has a growing portfolio of recurring income projects and significant prime office properties in Alabang, Cebu and Clark to continue to grow this business. A REIT listing will enable acceleration of the growth of this business line,” FLI president and CEO Josephine Gotianun-Yap said earlier.

Most of CPI’s buildings are located in the 18.7-hectare Northgate Cyberzone, a Philippine Economic Zone Authority (PEZA) Special Economic Zone in Filinvest City in Alabang, Muntinlupa, while some are also located in Cebu Cyberzone, also an economic zone in Lahug, Cebu City.

Northgate Cyberzone has various supporting amenities and provides competitive rental rates which are

significantly lower than the rates in the central business districts of Makati and Bonifacio Global City in Taguig.

Northgate also features the country’s largest district cooling system to date that helps reduce energy consumption of its property buildings, provides greater efficiency, lowers the initial capital investment, reduces carbon dioxide emissions and enhances real estate value by freeing up building space for other uses.

Filinvest’s BPO buildings have continued to be fully operational during the lockdown caused by the Covid-19 pandemic. CPI’s office rental revenues increased by 16 percent year-on-year in January to September 2020 to P2.46 billion.

The Gotianun group’s Filinvest is one of the pioneer providers of office space to the BPO industry in the Philippines and currently has 43 operating and under construction office buildings covering over 824,000 square meters of gross leasable area.

Smart to unveil green cell sites

S

mart Communications Inc. will start the rollout of fuel cell-powered sites next month in challenged-grid areas nationwide.

The shift is meant to transition to more sustainable and environment-friendly solutions, while providing connectivity to more communities.

In a fuel cell, hydrogen and oxygen are combined to generate electricity, heat, and water to produce electricity through an electrochemical reaction, instead of combustion. The system is based on methanol-powered fuel, which can be combined with solar, wind and other renewable resources to present a sustainable, cost-effective eco-system.

“Smart aims to increase public awareness on green energy as it deploys fuel cell-powered sites until the end of 2021,” Smart’s parent firm, Philippine Long Distance Telephone Inc., said.

Smart’s shift to green energy follows the announcement of the Department of Energy last year that government will no longer accept proposals to build new coal power plants, from the new Energy Conservation and Efficiency Act signed into law in 2019. These significant policy shifts help boost the deployment of cleaner energy sources, to help ensure more sustainable growth for the country.

“PLDT and Smart are active advocates of sustainable development. As we face daunting challenges on how to protect our environment and promote more equitable social development, Smart’s cutting-edge technologies can play a significant role in rallying the right socioenvironmental mindset and driving a greater sense of responsibility to the planet,” said Smart Communications President and CEO and PLDT Chief Revenue Officer Alfredo S. Panlilio.

Smart’s 2021 foray into green technology will be made possible through a partnership with Denmark-based renewable energy company SerEnergy, a world-leading developer and supplier of methanol-based fuel cell solutions.

SerEnergy will install over 90 green cell sites for Smart in off- and bad-/challenged grid urban and rural locations.

With over 15 years of experience with cuttingedge fuel cell technology, with power and backup solutions for telecom as a prime segment, SerEnergy also provides utility and industrial sectors with methanol-based fuel cell systems. “We are excited that Smart has chosen our clean power technology that besides from delivering people-, nature- and environmentally friendly energy, makes no compromise on quality,” said SerEnergy Commercial Manager Morten Thomsen.

Stationary fuel cells provide virtually emission-free power and do not produce particulate pollutants or unburned hydrocarbons. They emit less carbon dioxide than other technologies, and when using fuel generated from renewable sources such as biomass, fuel cells are completely carbon neutral.

Aside from the environmental benefits of fuel cell-powered sites, the technology is said to be more cost-effective over the lifetime of the unit, compared to existing technologies. In costper-unit-of-energy terms, methanol compares favorably with both gasoline and diesel.

In many cases, fuel cells are also able to offer higher reliability, with no degradation of capacity over time and limited maintenance needed. These solutions also operate with low noise and vibration, meeting regulations for low environmental impact. In terms of safety, methanol is less prone

NextPay gets funding from Y Combinator

F

ilipino financial technology startup NextPay has raised $125,000 from a backing round from Silicon Valley-based startup accelerator Y Combinator, allowing it to further expand its services that are tailored for the financiallyunderserved businesses in the Philippines.

NextPay Chief Executive Officer and Co-Founder Don Pansacola said this pre-seed investment makes NextPay one of the first five Filipino tech start-ups to be backed and selected by Y Combinator along with Kalibrr, PayMongo, Avion School, and Dashlabs.ai.

Based in Silicon Valley, Y Combinator has helped launch successful startups such as Airbnb, Dropbox, Stripe, and Twitch, among many others.

“Our goal is to empower smaller businesses with a spectrum of banking services that were previously unavailable to them because of the steep requirements and high fees that are typically aimed at larger, more developed companies that can afford them. This funding round from Y Combinator allows us to scale even faster to bring digital financial services closer to MSMEs,” Pansacola said.

NextPay is an online platform that enables growing businesses to make financial transactions without the rigid requirements that are usually set for big corporations. It currently offers its clients financial services such as digital invoicing, cash management, and batch payments to any bank or e-wallet in the Philippines. The pre-seed funding, Pansacola said, will allow NextPay to introduce more services that are suited for small and medium businesses, including freelancers.

“We plan to introduce more payment acceptance methods, virtual credit cards, and other digital solutions that enable businesses to manage their cash flow and alleviate the bottlenecks of the Philippine financial landscape. We will also partner with human resource and accounting software companies to further streamline the financial operations of a growing company,” Pansacola said. Launched in 2020, NextPay has processed over $2.5 million digital transactions for over a hundred businesses, helping them cut processing times from as much as three days to just 30 minutes. Lorenz S. Marasigan

to ignite than gasoline.

Smart’s partnership with SerEnergy follows its commitment to the Race to Zero campaign of the United Nations and GSM Association (GSMA), as a member of the trade alliance’s Climate Action Task Force.

Race to Zero is a global campaign that aims to mobilize leadership and support from business cities, regions, and investors for a net zero

mutual funds

greenhouse gas emissions economy by 2050, preferably earlier.

“PLDT and Smart have been incorporating sustainable development into our strategies and have adopted relevant practices such as shifting to green technologies, progressively improving operational efficiencies, and pursuing the use of renewable energy in our facilities,” Panlilio said. Lenie Lectura March 22, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 206.95 16.24% -8.44% -4.26% -8.92% ATRAM Alpha Opportunity Fund, Inc. -a 1.2384 53.91% -7.65% 0.99% -5.68% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8296 34.86% -12.8% -6.48% -9.68% Climbs Share Capital Equity Investment Fund Corp. -a 0.7298 33.01% -8.18% n.a.

-9.22% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6562 17.05% n.a. n.a. -11.52% First Metro Save and Learn Equity Fund,Inc. -a 4.5236 32.44% -6.48% -2.92% -8.45% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.654 23.7% -10.23% -7.85% -13.92% MBG Equity Investment Fund, Inc. -a

96.2 48.41% -5.57% n.a.

-5.63% PAMI Equity Index Fund, Inc. -a 42.3701 20.68% -6.7% -3.11% -9.56% Philam Strategic Growth Fund, Inc. -a 445.13 17.03% -6.52% -3.5% -8.97% Philequity Alpha One Fund, Inc. -a,d,5 1.0049 39.86% n.a. n.a.

-8.42% Philequity Dividend Yield Fund, Inc. -a 1.0743 32.11% -6.26% -2.47% -8.04% Philequity Fund, Inc. -a 31.7859 33.51% -6.22% -2.01% -8.58% Philequity MSCI Philippine Index Fund, Inc. -a 0.8237 34.44% n.a. n.a.

-9.78% Philequity PSE Index Fund Inc. -a 4.3382 38.58% -6.15% -2.36% -9.45% Philippine Stock Index Fund Corp. -a 725.48 21.48% -6.05% -2.5% -9.5% Soldivo Strategic Growth Fund, Inc. -a 0.6553 33.76% -10.28% -5.99% -8.85% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2885 33.18% -8.17% -3.82% -9.25% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8296 38.57% -6.39% -2.6% -9.6% United Fund, Inc. -a 3.048 35.09% -5.63% -1.35% -8.17% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 97.3415 39.36% -5.84% -1.83% -9.5% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.263 61.16% 3.37% 8.63% 5% 9.44% n.a.

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7016 64.79% 1.72% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6195 18.92% -2.63% -1.41% -2.94% ATRAM Philippine Balanced Fund, Inc. -a 2.1374 19.35% -3.02% -0.79% -6.48% First Metro Save and Learn Balanced Fund Inc. -a 2.4726 17.4% -2.06% -1.58% -5.88% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1859 15.32% n.a. n.a. -6.39% NCM Mutual Fund of the Phils., Inc. -a 1.8838 13% -0.11% 0.39% -4.08% PAMI Horizon Fund, Inc. -a 3.5296 12.18% -1.49% -0.82% -6.82% Philam Fund, Inc. -a 15.8293 11.82% -1.41% -0.82% -6.54% -0.78% Solidaritas Fund, Inc. -a 1.9815 10.55% -2.49% -5.38% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3496 18.62% -3.99% -1.97% -6.26% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9394 18.99% n.a. n.a.

-8.14% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8586 29.66% n.a. n.a.

-9.54% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8423 31.55% n.a. n.a.

-9.73% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8251 25.11% -5% -2.66% -7.05% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03782 1.31% 2.34% 1.25% -3.32% PAMI Asia Balanced Fund, Inc. -b $1.142 26.51% 1.87% 5.04% -0.71% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5688 44.48% 7.15% 8.34% 1.24% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1885 23.17% 3.51% n.a.

-1.13% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 369.72 2.55% 3.08% 2.58% -0.36% ATRAM Corporate Bond Fund, Inc. -a 1.9055 -0.48% 0.68% 0.25% 0.27% Cocolife Fixed Income Fund, Inc. -a 3.2167 2.31% 4.12% 4.56% 0.06% Ekklesia Mutual Fund Inc. -a 2.2393 0.24% 2.08% 1.73% -2.47% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4191 2.95% 3.06% 1.7% -1.39% Philam Bond Fund, Inc. -a 4.4421 1.98% 3.89% -4.15% 2.12% Philam Managed Income Fund, Inc. -a,6 1.3143 5.03% 4.18% 2.58% -0.52% Philequity Peso Bond Fund, Inc. -a 3.9435 5.16% 4.14% 2.72% -1.44% Soldivo Bond Fund, Inc. -a 1.0154 6.77% 3.93% 1.86% -2.55% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1561 2.79% 4.49% 2.99% -1.56% Sun Life Prosperity GS Fund, Inc. -a

1.7216 1.85% 3.75% 2.18% -1.9% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $481.34 2.33% 2.88% 2.41% -0.52% ALFM Euro Bond Fund, Inc. -a Є219.31 0.7% 1.07% 1.19% 0.06% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1842 7.47% 1.95% 1.33% -7.51% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 6.61% 1.33% 0.96% -3.01% PAMI Global Bond Fund, Inc -b $1.049 -0.7% 0.15% -0.61% -4% Philam Dollar Bond Fund, Inc. -a $2.4519 4.26% 3.99% 2.14% -3.3% Philequity Dollar Income Fund Inc. -a $0.062441 5.72% 3.19% 2.2% 0.2% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.0897 4.69% 1.73% 0.87% -4.15% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.8 2.49% 3.21% 2.52% -0.01% First Metro Save and Learn Money Market Fund, Inc. -a 1.0495 1.6% n.a. n.a.

0.13% Sun Life Prosperity Money Market Fund, Inc. -a 1.3002 2.14% 2.91% 2.58% 0.28% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0549 1.51% 1.76% n.a.

0.24% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2041 n.a. n.a. n.a. 6.6% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 10% 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

Govt raises ₧20B in sale of T-bills amid rates’ rise

D

ESPITE inflation concerns that pushed up interest rates, the Bureau of the Treasury (BTr) fully awarded P20 billion in Treasury Bills (T-bills) last Monday.

Broken down, the Treasury awarded P5 billion in 91-day T-bills, P5 billion for 182-day T-bills and P10 billion for 364-day T-bills.

The BTr also opened the tap facility auction for an additional P5.08 billion offering of 364-day T-bills.

However, only P5 billion of the bids were accepted and the rest were rejected.

“Rates continue to creep with lingering concerns on higher inflation.

We opened the tap facility for one year,” National Treasurer Rosalia V. De Leon told reporters last Monday.

The BTr auction committee said the 91-day T-bills fetched an average rate of 1.336 percent, higher than the 1.139 percent recorded in the last auction.

In terms of the 182-day T-bills, the average interest rate reached 1.718 percent, still higher than the 1.316 percent posted in the previous auction.

The 364-day T-bills had an average interest rate of 1.997 percent, higher than the 1.316 percent registered in the last auction.

The 1.997 percent interest rate was the same one used for the tap facility, which will be issued on March 24, 2021 and have a maturity date of March 23, 2022.

“The auction was more than three times oversubscribed with total tenders reaching P64 billion. With its decision, the committee was able to raise the full program of P20 billion for the auction,” the BTr said in a statement.

The country’s inflation rate continued its climb from 4.6 percent in January to 4.7 percent in February, government data last Friday revealed. The February figure is the highest since the 5.1 percent recorded in December 2018 and the 2.6 percent in February last year.

In the first two months of the year, inflation averaged 4.5 percent. For this year, the government’s target range for inflation is 2 to 4 percent.

Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno last Friday allayed investor worries on the spike, saying the acceleration of prices in February are still supply-side in nature and will likely taper off in the coming months. (See, “BSP won’t act on inflation till there’s evidence of second-round effects,” in the BusinessMirror, March 6, 2021). Cai U. Ordinario

How to prepare for retirement?

Ten banks lend nearly ₧1-B to MSMEs via PhilGuarantee

T

By Cai U. Ordinario

In a report to the Department of Finance, PhilGuarantee said the guaranteed P952.5 million worth of loans was a 360-percent increase from the P207 million it covered as of December last year.

The loans covered by PhilGuarantee were for 8,839 firms in February, a 200-percent increase from the 2,948 enterprises covered by the program as of December 2020.

“The implementation of improved

A personal finance

ing your money now and saving it for later.

It’s not how good you are when investing but how disciplined you are.

Some people have multiple accounts; some have only one.

Money is behavioral and do what works best for you.

4. Diversify your investments.

Diversification is still the best way to grow your money. You need to be able to balance your investments with the risks and returns. Knowing your attitude towards risks will allow you to choose from various types of investments.

If you are still in your 20s, you can still take more aggressive funds such as Index or Equity funds that are invested in the stock market.

Once you reached your 50s, you may consider placing your funds in more conservative funds such as in bonds or the money market since the years before your retirement is now shorter. Volatility can’t be tolerated that much at that age.

5. Find the options.

Conduct a research or consult a professional on the tools that you can use or take to achieve your retirement goals. Try to conduct a financial check-up so you can identify where you are right now and the process that you need to take in order for your to achieve your goals.

6. Start early.

We can start preparing once we receive our first salary. This is the ideal approach but then always remember that if are not able to start yesterday, the best time to start is today. No matter how small it is, it’s better than starting too late.

7. Be in faith.

Faith is the assurance of things hoped for. This combined with our practical steps, we can still place our confidence in God’s provision while doing our part as well.

As much as we plan ahead, I would like to close with this verse: “At the end of the day, we will do it not by our own efforts but also with the wisdom from God and His people.”

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

processing and evaluation parameters starting this year led to this remarkable increase in the number of beneficiaries under the MSME Credit Guarantee Program (MCGP),” PhilGuarantee President and CEO Alberto E. Pascual said in his report.

In terms of distribution by industry, the bulk of the guaranteed loans for MSMEs as of February went to enterprises engaged in wholesale and retail (P723 million), followed

by manufacturing (P83.6 million) and transport, storage and communication (P65 million).

Pascual said the total P952.5 million in MSME loans guaranteed as of February 28 were from ten accredited banks and financial institutions.

“The approval of the credit guarantee facilities enabled the availability and accessibility of credit from banks that would have otherwise been reluctant to lend to MSMEs owing to the uncertainties that prevailed with the onset of the Covid-19 pandemic,” Pascual said.

From the start of the MGCP’s implementation last year, Pascual said the PhilGuarantee Governing Board approved a total of P37.7 billion in credit guarantee facilities to 34 banks. At least 22 of these banks are actively submitting MSME loan applications for credit guarantee.

For 2021, Pascual said PhilGuarantee is targeting to grow the portfolio of guaranteed MSME loans to P4 billion. He added they plan to in-

crease the number of beneficiaries by another 8,000 enterprises.

According to Pascual, the average loan size under the MGCP is less than P1 million, with the minimum loan amount set at P100,000, which can be availed mostly by micro businesses borrowing from thrift banks and rural banks.

The MGCP grants a 50-percent guarantee for working capital loans and a guarantee of up to 80 percent of the amount for term loans of up to seven years for capital expenditures.

Under Republic Act 11494 or the Bayanihan to Recover as One Act (Bayanihan 2), MSMEs account for P2 billion of the P5-billion appropriated for PhilGuarantee to aid pandemic-hit enterprises.

The Bayanihan 2 allocation allowed PhilGuarantee to further widen its guarantee headroom of economic activities and extend more assistance to viable but severely affected MSMEs, Pascual said.

Solon seeks interest-rate cap on consumer loans @joveemarie

Karlo Biglang-Awa

@caiordinario

EN banks released nearly P1 billion in loans to micro, small and medium enterprises (MSMEs) as of the end of February after securing backing from the Philippine Guarantee Corp. (PhilGuarantee).

By Jovee Marie N. dela Cruz

D

URING our honeymoon, my wife and I had an opportunity to visit Boracay. Staying at the beautiful island, we came to a point of discussing about retirement.

We realized that our country is very rich in natural resources and we became fascinated of dreaming to visit the different islands around us, one beach at a time as we grow old and maybe after the pandemic is over. We visited the place a few days after the island just re-opened after six months of rehabilitation last 2018. I had a picture in mind on how I would like to prepare for our retirement since we love to go to different places in our country and enjoy our moments with our family.

As a financial planner, I was given the privilege and calling to educate our countrymen on how we can prepare for retirement. The Philippine retirement system ranked the fourth-lowest in the 2019 Melbourne Mercer Global Pension Index.

With this statistics, we continuously share the steps that we can do to somehow change the trend 20 years to 30 years from now. After all this can be part of nation building and will help our country become more progressive.

The question for us to answer is how can we prepare for retirement?

I am sharing some of the learning that I got over the years.

1. Set your goals.

Find ways to finance your goal by either passive income or investments. It could be through rental properties, investments or mutual funds. You can still choose to have active income during your retirement from your full time job by doing freelancing or small business ventures.

Even though you just started In your work, you can allocate a portion of your income that will go to your retirement fund. Try to list down the lifestyle that you want upon retirement. Do you want to travel? How much health care funding do you want to set for your golden years to avoid depletion of savings/investments?

2. Use a reasonable amount of inflation.

Inflation will affect the cost of our money every year. This is the reason why our grandparents will always say that P50 during their time is already a big amount. Four percent to five percent is a good number for inflation rate; not too high to demotivate but not too low to deflate your funds.

3. Being disciplined is the biggest challenge towards attaining your goal for retirement. There should be a balance between enjoy-

Tuesday, March 23, 2021 B3

deputy speaker is calling for the immediate passage of a bill seeking to put an interest rate cap on credit card and consumer loans offered by banks and other financial institutions.

House Deputy Speaker Bernadette Herrera-Dy issued the call as she backed the passage of House Bill (HB) 7967 filed by Bataan Rep. Geraldine B. Roman. The bill proposes amendments to the Usury Law that will cap interest rates for credit cards and otherwise set a prescribed range of fixed rates for various forms of lending.

The bill is pending with the House Committee on Banks and Financial Intermediaries.

“It is high time that we put an end to predatory and abusive lending practices, which have been among the greatest threats to Filipino families working to achieve financial security,” Herrera said.

The bill sets the maximum interest rate for credit card charges and other cash advance arrangements at 12 percent annually, or any such rate prescribed by the Monetary Board of the Bangko Sentral ng Pilipinas, subject to some constraints.

The limitation on the Monetary Board-set rate on loan, forbearance agreements and credit card charges is “not more than three-percentage points higher than the rate of 91-day treasury bills in the quarter preceding the monetary board’s imposition of the said maximum rate.”

Under the bill, those who will violate any of its provisions could face a fine of up to P5 million or imprisonment of not more than 12 years, or both.

On top of this, the violator shall return the entire sum received as interest from aggrieved party plus all costs and expenses incurred in the prosecution of the offense.

In case of non-payment, the violator shall suffer subsidiary imprisonment at the rate of one day

Lender’s sustainability bonds oversubscribed

T

HE fixed-rate bond offering of Yuchengco-led Rizal Commercial Banking Corp. (RCBC) was oversubscribed by more than 5.9 times before it closed the transaction.

In a disclosure on Monday, the listed bank said that the order book for its 2.5-year and 5.25-year fixedrate Asean sustainability bonds reached P17.87 billion. The offer period ran from March 12 to 19.

The information was received well by the market as shares of RCBC climbed by 2.34 percent, or 40 centavos, to P17.50 each amid the 0.64-percent drop for the benchmark index on Monday.

The bonds, which have a minimum size of P3 billion, are slated to be listed on the Philippine Dealing and Exchange Corp. on March 31.

The bonds carry interest rates of 3.2 percent per annum for the 2.5year tenor and 4.18 percent per annum for the 5.25-year tenor.

Proceeds are also allocated to support the bank’s asset growth, to fund general corporate matters and to refinance maturing liabilities, in addition to financing eligible loans cited in its sustainable finance framework.

The Yuchengco-led lender tapped Standard Chartered Bank (SCB) as the sole lead arranger and bookrunner of the transaction while RCBC Capital Corp. is the financial advisor. Both SCB and RCBC are the selling agents.

The transaction is the sixth drawdown from the bank’s P100billion bond and commercial paper program. Previously, RCBC launched P15-billion Asean Green Bond in February 2019, P8-billion Asean Sustainability Bonds in June 2019, P7.5-billion in November 2019, and P7.05-billion bonds in March 2020 and P16.6-billion bonds in July 2020.

The bank’s sustainable finance framework has been certified by Sustainalytics, an independent environmental, social and governance research and ratings provider.

Earlier, RCBC said it was aiming to offer a benchmark sized foreign currency denominated senior note offering this year, which will be drawn out of its medium-term note program.

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

RCBC registered P5.018 billion in net earnings last year, a 7-percent decline from P5.388 billion in 2019, as impairment losses jumped by 26.1 percent to P9.33 billion.

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

Tyrone Jasper C. Piad

for every P8.

Moreover, the Bagong Henerasyon Party-list representative said setting a cap on credit card and loan interest rates has never been more imperative with quarantines forcing a lot of businesses to close down and pushing up the country’s unemployment rate.

“It is unfortunate that even during the pandemic, these banks and lending companies abuse the humble worker and entrepreneur, obligating them to pay high interest rates and penalties for late payments,” Herrera added.

According to Herrera, she will ask the leadership to include the bill in its priorities to ensure the swift passage of the measure.

She said she will talk to Speaker Lord Allan Jay Q. Velasco and Majority Leader Ferdinand Martin G. Romualdez about the possibility of including HB 7967 in the list of priority measures under the 18th Congress.

Roman, meanwhile, said the pro-

posal is not unprecedented.

“The Philippines used to have a Usury Law [Republic Act 2655], which capped the interest that can be imposed upon a loan and forbearance of money,” Roman said. “However, on March 17, 1980, the Usury Law was amended by Presidential Decree 1684, giving the Monetary Board the authority to prescribe rates of interest.”

Roman explained that pursuant to such authority and in response to the lobby from banks and lending institutions, the Monetary Board issued Central Bank Circular 9051982, removing the ceilings on interest rates by declaring that such rates are no longer subject to any ceiling prescribed under or pursuant to the Usury Law. “Therefore, at present, the debtor and creditor may enter into a contract providing for any amount of interest.

Consequently, many debtors especially those in the cusp of emergencies pay interests at 5 to 10 percent a month,” the lawmaker added.

Digital payments bill gets approval on 2nd reading

T

HE House of Representatives on Monday approved on second reading a bill promoting the use of digital payments for financial transactions in the country. Through viva voce voting, lawmakers approved House Bill (HB) 8992 or the “Promotion of Digital Payments” Act. Bataan Rep. Jose Enrique S. Garcia III, sponsor of HB 8992, said there are currently around 30 electronic money issuers in the Philippines.

Garcia said the bill would still allow the use of cash in financial transactions involving government agencies and digital payments will serve as an additional option for these transactions. The bill mandates the use of “safe and efficient” digital or electronic mode of payments by all national government agencies (NGAs), government-owned and controlled corporations (GOCCs) and local government units (LGUs) in the collection of payment of taxes, fees, tolls, imposts and other revenues. This form of payment would also be accepted in the payment of goods, services and other disbursements.

Under the bill, government entities adopting digital payments shall be provided in their respective budgets the amount necessary to cover the cost of establishing and maintaining the infrastructure, system and process adjustments, as well as transaction fees incurred in connection with the implementation of digital payments, such as merchant discount rate, processing

fees, cash-out fees and administrative fees. It seeks to mandate NGAs, GOCCs, and LGUs to adopt accountbased disbursements, where recipients directly receive government payments into their bank or digital accounts.

Medical reserve

LAWMAKERS also passed on second reading last Monday the measure creating the Medical Reserve Corps.

House Bill 8999 (the “Medical Reserve Corps” Act) seeks to organize a group of trained and equipped medical and health-related personnel for rapid mobilization during national or local public health emergencies, which require manpower support to reinforce and strengthen the existing capabilities of the national agencies or local government units (LGUS).

Under the bill, Medical Reserve Corps shall be under the Department of Health and shall composed of persons who are licensed physicians, medical students who have completed their four years of medical course, graduates of medicine, registered nurses, and licensed allied health professionals who may be called upon to assist the national government, its agencies and instrumentalities, and the LGUs in the discharge of their functions in addressing the medical needs of the public.

The bill grants the President of the Philippines the power to mobilize the MRC nationwide in case of a declaration of a state of war, state of lawless violence or state of calamity.

Jovee Marie N. Dela Cruz

B4

Tuesday, March 23, 2021 • Editor: Gerard S. Ramos

Art

BusinessMirror

www.businessmirror.com.ph

Today’s Horoscope

❶

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Michelle Monaghan, 45; Keri Russell, 45; Catherine Keener, 62; Chaka Khan, 68.

Happy Birthday: Let your creativity flow this year, and you’ll come up with something new and exciting to keep your life interesting. Invent fresh ways to socialize, and share with people as innovative and conscientious as you. Put your heart and soul into improving relationships and taking on a challenge that supports a cause or your community. Pay attention to detail. Your numbers are 5, 11, 22, 24, 31, 40, 44.

❷ ❶ El Profundo,

Juvenal Sansó and Kenneth Montegrande, acrylic on thick handmade wove paper, 19.5”x25”

❷ Mixed

Emotions, Kenneth Montegrande, acrylic on canvas, 36”x36”

a

❸

Sansó x Montegrande: The merging of visualized hopes

❸ Faith In

The Middle Of Nowhere, Kenneth Montegrande, acrylic on canvas, 18”x24”

O

N the wall of the Fundacion Sansó lobby in San Juan reads the words of the late critic Leo Benesa. “I realize that [Juvenal] Sansó’s subject matter is the ‘inner eye,’” the text goes, “the artist looking into himself.”

While the iconic landscapes of the Spanish-born, Filipino-at-heart artist are as much a portal as they are paintings, the transporting sceneries, of course, are not simply of captured sights but also projected hopes. It is said that Sansó’s famous Brittany Series has been a crucial part of expunging his trauma from the Second World War, wherein he created worlds on canvas that presented no chaos, just color.

Similarly, there is much more that goes inside the dramatic chiaroscuro of Kenneth Montegrande.

The stunning cloudscapes and seascapes comprise a picture of hope, a reminder that light will find its way through the darkness. Indeed, Montegrande, like the master before him, is an artist looking into himself.

This is just one of the layered similarities between the two artists, who now share the stage in the twoman exhibition, titled The Blissful Expanse of Sea and Sky: Sanso x Montegrande.

“Both use the landscape as a way of dealing with harsh realities, and to escape into it as a moment of calm,” said Fundacion Sansó director Ricky Francisco.

“What you see is not really a scenery, but rather their hopes and desires.”

Francisco reached out to Montegrande at the end of last year. But aside from the pace by which they were able to put the show together, what surprised him was the amount and degree of similarities between the two artists, which transcends their artistic style and messaging.

Francisco discovered that both Sansó and Montegrande were once members of the media and penned columns for newspapers. Montegrande also worked for the government as a spokesman for the DENR Parks Development Committee, while Sansó was a former spokesman for the Philippine Retirement Agency.

“Both of them are helping people privately as well, sending students to school,” Francisco said. “I wanted to show that here also.”

For his part, Montegrande quickly embraced the opportunity of working with a prominent figure of Philippine arts in Sansó.

“This one is one of the highlights of my career,” said Montegrande, who quickly rose in the local arts scene in recent years. He is the first Southeast Asian artist whose works are housed in the prestigious collection of Japanese mega art collector Yusaku Maezawa. He is also the youngest artist whose work forms part of the Malacañan collection.

Ground-breaking interaction Presented in the exhibition are eight works by Sansó and 16 by Montegrande. One of the main pieces

is Montegrande’s expansive abstract artwork, titled Symphony of Peace, which measures 6 ft x 12 ft. Another is a one-of-one interaction work by Sansó and Montegrande, unveiled at the reception.

The piece, titled El Profundo, is an unfinished Sanso that Montegrande worked on. Francisco said that while interaction pieces are quite common in the local arts scene, and that Sansó has indeed engaged in such collaborations in his personal capacity, the one created for the ongoing show is the first of its kind for the Fundacion Sansó group.

“Interaction pieces for Mr. Sansó is nothing new, and we’re not breaking his tradition, his canon,” Francisco said. “[But since this is the first one for the group,] we had a lot of discussions. ‘Are we allowed?’

‘Should we even consider it?’ But it worked out.”

Montegrande was presented with three unfinished Sansó pieces to work with and selected the one where he thought he can apply his style without taking that of Sansó’s.

“Pero pagdating ng second day, third day, fourth day, bumibigay ako,” Montegrande said. “Parang ’di ko pala kaya.”

The artist then called the curator, who supplied him with words of encouragement. Montegrande was infused with renewed hope, but something still felt amiss. He then called on God and prayed that he be able to exhibit his style in the piece.

It just happened that Montegrande was also supposed to meet with a collector. He drove to her house, and while waiting inside, he chanced upon an artwork from afar. Montegrande felt a connection.

He saw the strokes as his own, but he didn’t know

Continued on B5

Asian Cultural Council pursues pro-artists advocacy THE Asian Cultural Council pursues its mission to support artists by facilitating opportunities for creative advancement and mutual cultural understanding. Since the global pandemic began, ACC New York and its affiliate offices in Hong Kong, Japan, Taiwan and the Philippines have gradually adapted nearly 70 percent of its grants program to hybrid or completely online versions. ACC upholds the importance of art and the impact of cultural exchange as it strategizes innovative ways and virtual platforms in response to the current global situation.

The ACC Philippines, for its part, continues to work on its commitment to ensure more grants for Filipino artists through the Philippine Fellowship Program.

The annual Asian Cultural Council Auction, held in

cooperation with the trustees of the ACC Philippines Foundation Inc. chaired by Ernest Escaler in collaboration with Jaime Ponce de Leon and Team Leon Gallery, has been a significant undertaking that seeks support from donors, collectors and like-minded patrons in the arts.

Proceeds from the benefit event help fund the program that enables transformative avenues for creative growth and international cultural exchange to over 500 local artists to date. Art scholars and professionals from across all fields have also been added to the list of ACC alumni and fellows.

Some have become icons and important names in our nation’s cultural heritage led by National Artists Jose Joya, Lucresia Kasilag, Jose Maceda, Alice Reyes, Ramon Santos, and Kidlat Tahimik, to name a few.

This year’s ACC Auction last month showcased exquisite masterpieces, bannered by Anita Magsaysay-Ho’s Tinapa Vendors, Vicente Manansala’s Pila sa Bigas, and stunning works by Cesar Legaspi, H.R. Ocampo, Manuel Ocampo, Lee Aguinaldo, Lao Lianben and the exceptional Jose John Santos III. Other pieces showcased were by ACC grantees: stalwarts Jose Joya and Roberto Chabet, and young outstanding artists Dex Fernandez, Winner Jumalon, Nona Garcia, and Don Salubayba.

The Asian Cultural Council Auction’s benefit art auction was held recently at Leon Gallery in Makati City.

More information is available at www.leon-gallery.com.

More information about the ACC and its grant programs can be found at www.asianculturalcouncil.org.

ARIES (March 21-April 19): Attend a virtual event that offers networking with interesting people. Anger will set in if you sit back instead of taking action. It’s up to you to do your part if you want to make a difference or achieve personal growth. HH

b

TAURUS (April 20-May 20): Make a change at home that will make your life easier and add to your comfort. Be willing to do the work yourself, and you’ll feel good about your accomplishment. Speak up about matters that concern you, and resolve issues swiftly. HHHH

c

GEMINI (May 21-June 20): Be careful not to lead someone on. Honesty will help you maintain a good rapport with others without jeopardizing your reputation or your integrity. Learn from the experience, and an opportunity will come your way.

Work toward self-improvement, not changing others.

HHH

d

CANCER (June 21-July 22): Consider what you are trying to achieve, and gather the information that will help you home in on what’s required to reach your goal. Don’t jeopardize your health in order to advance. HHH

e

LEO (July 23-Aug. 22): Improve your life, looks and relationships with others.

Concentrate on being the best you can be.

Offer kindness, support and understanding to the people around you. A partnership looks promising, and romance is encouraged. HHH

f

VIRGO (Aug. 23-Sept. 22): You’ll get help from people who share your concerns. Speak up and do your best to make a positive difference. Anger will solve nothing, but physically taking responsibility will pay off. HHHH

g

LIBRA (Sept. 23-Oct. 22): Set out on a pilgrimage that will lead to valuable information.

Educational pursuits will open your mind to all sorts of exciting possibilities. Share something special with someone you love, and good things will unfold. A lifestyle change looks promising. HHHH

h

SCORPIO (Oct. 23-Nov. 21): Uncertainty will hold you back. Concentrate on what’s entailed to reach your destination and put everything in place. Choose intelligence and reason over anger and discord. A minimalist lifestyle is encouraged if you want to avoid financial setbacks. HH

i

SAGITTARIUS (Nov. 22-Dec. 21): Don’t be fooled by someone trying to part you from your hard-earned cash. Set ground rules at home or with anyone you share expenses with, and you’ll avoid being taken advantage of financially. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Refuse to take chances with your health. Make adjustments to the way you live or how you handle your money, and it will ease stress and encourage you to make better decisions regarding associates. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Put your energy where it counts, and you’ll get good results. Home improvements will encourage you to take better care of yourself and those you love.

Don’t get angry; let go of the past and begin again.

HHH

l

PISCES (Feb. 19-March 20): Concentrate on creative ideas and living life your way. Don’t get stuck in a rut when making a change will help update your lifestyle to mesh with trends. Reach out to someone you enjoy collaborating with, and you’ll get good results. HHHHH Birthday Baby: You are sensitive, imaginative and perceptive.

You are aggressive and secretive.

‘holding periods’ by zhouqin burnikel The Universal Crossword/Edited by David Steinberg

ACROSS 1 Expire, as a subscription 6 Some movie theaters 10 Animal that oinks 13 Portion out 14 Put on a pouty face 15 Raunchy writing 17 Miso and udon dishes 18 Improvise (see letters 6 to 9 in this answer) 20 Get-together, casually 21 Where poodles are pampered 22 Midsommar director Aster 23 Home in a tall building (7 to 12) 26 Arcade game pioneer 27 Precursor to rocksteady 28 Number that shares a key with @ 29 Problem 33 Poodle’s annoyance 37 1979 Rod Stewart hit whose title is a question (1 to 3) 41 The “S” of GPS: Abbr.

42 Aetna competitor 43 Overtime cause

4 Hosp. surgical areas 4 47 Windshield hazard 49 Shared characteristics (4 to 8) 55 80, for Dr. Fauci 56 Professional pursuit 57 Showroom model 60 Workplace respite, and a hint to the starred answers’ indicated letters 62 Consume completely 63 Rogen of Steve Jobs 64 Kept in the e-mail loop 65 Like a fresh muffin 66 Retirement benefits org.

67 Egg farm mothers 68 Poker entry fees DOWN 1 Glasgow girl 2 Hand cream additive 3 Teddy bears, e.g.

4 Bush of One Tree Hill 5 Mars rovers, perhaps?: Abbr.

6 According to 7 Prefix meaning “many” 8 School group

9 Uses a certain video chat program 10 K-pop star who rose to fame in 2012 11 “To be clear...”

12 Watch over 16 The Chicks, e.g.

19 Support with funds 21 Engage in an online scam 24 Stick-to-itiveness 25 Bumbling ones 26 Out of town 28 Six-pt. plays 30 (This wasn’t my error) 31 College, in British slang 32 Heart test, briefly 34 “We need proof!”

35 Walk off the stage 36 Assent that sounds like a vowel 38 Molecule component 39 Conclude through logic 40 Mary Magdalene star Rooney 45 Loser to paper 46 Grab 48 Most likely to win 49 Airport-to-hotel transports

50 Folklore meanies 51 Swim team events 52 Blink of an eye 53 Macho sorts 54 Plants used in basketry 58 Creative inspiration 59 Goes (for) 61 “I figured it out!”

62 Thurman of Gattaca Solution to Friday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Sansó x Montegrande: The merging of visualized hopes Continued from B4 the artist. He saw another work of the same artist that featured bricks. It was then that he knew: it was Sansó, an early work. It was the inspiration he was looking for, and all that he needed to work on their interaction.

The result is El Profundo, which features Sanso’s signature flowers on the lower-thirds of the canvas, and Montegrande’s distinct clouds above.

“Sansó was known for his flora, organic growth but are imaginary. Montegrande was able to interact with it in such a way that it looked burning but not being burnt. Like the burning bush in the bible,” Francisco said. “It has a very profound message at this time.”

“Inspiration natin dito, ’yung hope, ’yung faith,” said Montegrande, who is now preparing for an upcoming solo in July at Art Lounge Manila.

Sansó Art Student Stipends Fund THE sold-out two-man show between Sanso and Montegrande stands to help the cause of Fundacion Sansó in supporting the continued education of students, especially at this time of global pandemic.

Part of the proceeds of the exhibition will fund the Sansó Art Student Stipends Fund.

“We ramped up our scholarship program during the ECQ,” Francisco said. “It became hard for many students to continue because their parents were laid off. We continued during the ECQ to support some of our scholars and we were able to graduate seven. Now we have four.”

“With this,” he added, “we think that we might be able to accept two to four more.”

The Blissful Expanse of Sea and Sky: Sanso x Montegrande is presented by Fundacion Sansó and Galerie Joaquin. The show opened on Friday and is on view at Fundacion Sansó in San Juan until April 17. n

Ricky Lee conducts 12-week workshop for GMA Public Affairs

HIGHLY acclaimed screenwriter, playwright and novelist Ricky Lee is in the midst of training over two dozen writers from GMA’s Public Affairs department. Also participating in this 12-week workshop are some of the network’s executives and a pool of writers from its Entertainment Group.

The in-depth workshop began on February 5 with Lee sharing his talent and insights on how to craft stories for television and films that capture and move the audience. He is also helping participants develop their individual and group storylines.

Lee said the idea of training a team of Public Affairs personnel was intriguing to him: “Working in News and Public Affairs, they should draw their stories from their rich reservoir of real experiences and insights, so they will have a distinct voice.” This voice is what he is now helping the group create.

“I find the workshoppers to be very open and receptive, which makes the workshops very exciting and challenging at the same time,” he adds.

Lee, who turned 73 years old on March 19, is considered a visionary in the Philippine TV and film industry. He has penned over 180 scripts that include the acclaimed classic Himala (1982), Salome (1981) and Brutal (1980). He has frequently collaborated with esteemed directors Ishmael Bernal and the late Lino Brocka and Marilou Diaz-Abaya. He has also written several books—among them Trip to Quiapo, which has become a must-read for aspiring scriptwriters.

He is a recipient of more than 70 awards, including the 2020 Camera Obscura Artistic Excellence Award from the Film Development Council of the Philippines. He is a Hall of Fame awardee at the Metro Manila Film Festival 2019 and was named FDCP Film Ambassador in 2017 for winning at the 2016 International Film Festival Manhattan.

He is also one of the 100 Centennial Awardees by the Cultural Center of the Philippines and was given the Natatanging Gawad Urian Life Achievement Award (2003), Gawad CCP sa Sining para sa Literature (2015), and UP Gawad Plaridel Award for Film (2015).

Lee has been giving workshops for budding scriptwriters to help them reach their full potential in the field of writing.

Meanwhile, GMA Public Affairs has been producing groundbreaking and innovative shows on television. Some of its award-winning public affairs programs, include Kapuso Mo, Jessica Soho, Wish Ko Lang!, Imbestigador, I-Witness, Reporter’s Notebook and The Atom Araullo Specials, among many others.

Recently, the department has begun to produce innovative prime-time drama series and is currently airing rom-com Owe My Love on GMA and time-traveling fantasy The Lost Recipe on GTV. This year, GMA Public Affairs is also set to launch the romance mystery Love You Stranger and actionadventure Lolong.

Editor: Gerard S. Ramos

• Tuesday, March 23, 2021

B5

New songs for your summer playlist

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had Borja remains one of our all-time favorite crooners. Through the years, Borja has maintained his high standards of musicality and has taken good care of his voice, despite the fact that he underwent a medical scare during the peak of his musical career many years back.

Borja was recently offered by music producer Sunny Ilacad to do a single. Ilacad, who has been a longtime friend to the now Davao-based singer, sent a demo which Borja immediately liked, requesting only that the musical arrangement be similar to his signature hit song “Ikaw Lang,” which is easy listening music and soothing to the ears. Ilacad is also credited as the writer and composer of the song, titled “Ingatan Mo.” “Since it’s still pandemic, I recorded the song at home where I have a private music and recording studio,” volunteered Borja, adding that technology now allows collaborations to happen even when the people involved are not physically together in one place. Borja added that the music video shoot was done in his home. “We made use of what we have at home and around the property, with a lot of help from my wife Emy, and our two daughters Aby and Mafy.”

The eldest Aby is also a very promising singercomposer. “Aby is equipped with gadgets for her music, so she was the one who assisted me throughout the recording sessions at home. She also did the video editing. Aby is so well-versed when it comes to music production because that’s what she does and that’s also her chosen course in college.” The recording engineer for the song is JD Walker.

“Ingatan Mo” is now available on all digital music stores and there will be a special live online launch on March 28.

DELIGHTFUL DUET ANOTHER new Filipino song that boasts of a powerful duet has also been launched recently.

X-Factor UK sensation Alisah Bonaobra teamed up with the promising Myko Mañago to record the song “Pangako,” a beautiful song reminiscent of classic duets that have stood the test of time, wars and

pandemics.

Their singing collaboration was borne out of a natural chemistry between these two artists from the many hosting chores they do together. Both have been doing livestream hosting every week for an online show, called Winner Ka Sa RJA, produced by the USbased entertainment group RJA Productions.

Arnie Mendaros is the songwriter of “Pangako,” a straightforward pop-ballad that certainly brings out the exceptional vocal qualities of the two young artists. Mendaros noted, “I have great confidence with Alisah and Myko since I have served as their vocal coach in several musical undertakings. They are the perfect interpreters for this delightful duet.”

“Pangako” is a promise fulfilled by RJA Productions big boss RosaBella Jao Arribas to these two wonderful singers.

DREAM COLLABORATION WHAT started out as a comment on her social-media account from a well-respected music producer led to a collaboration that only a few local singers can even dream about. When beautiful chanteuse Nicole Laurel saw the post of Blue Hamilton one morning

commending her for her gift of voice, she was pleasantly thrilled.

“I immediately checked and verified if it was THE Blue and, true enough, the remark indeed came from him,” she said, sharing that Hamilton has worked with some of the biggest names in the world music industry like Justin Bieber and Diane Warren.

She added, “Everything happened so quickly after that—from video calls to submissions of materials, from planning to recording. Luckily, we were always on the same page, and had a fun time considering that we are miles apart.”

Laurel described Hamilton as a very generous producer. “He always made time to guide me through the entire process until the song ‘See Through’ was successfully recorded. He is so gracious and such a force of positivity. He wanted me to be as raw, organic and as sincere as I could be for this particular song.”

Obviously smitten by such a wonderful combination of Asian beauty, charm, wit and vocal prowess, Hamilton said that he looks forward to more collaborations with the enchanting Nicole Laurel. “See Through” is available on Spotify and Apple Music and its music video can be viewed on YouTube. n

CLOCKWISE: Chad Borja; Nicole Laurel; and Alisah Bonaobra and Myko Mañago

LA police: Armie Hammer under sexual assault investigation

By Andrew Dalton The Associated Press LOS ANGELES—Actor Armie Hammer is under investigation for sexual assault, Los Angeles police said on Thursday. Hammer’s attorney denied the allegation. Hammer is the main suspect in a sexual assault that was reported to police on February 3, LAPD spokesman Officer Drake Madison said. Police would give no further details on the incident or who made the report.

Earlier Thursday at a video news conference, a woman said that on April 24, 2017, in Los Angeles, Hammer raped her for four hours, slammed her head against a wall and committed other violent acts against her.

The Associated Press does not generally identify alleged victims of sexual assault.

The woman appeared on camera but identified herself only by her first name, Effie.

“During those four hours I tried to get away but he wouldn’t let me,” she said through tears. “I thought that he was going to kill me. He then left with no concern for my well-being.”

The woman’s attorney, Gloria Allred, said they had given evidence to Los Angeles police, including photos of Effie’s injuries. Allred declined to say when they made the report, and would not confirm that it was the one made in February that the LAPD is investigating.

Effie was 20 when she and Hammer met on Facebook and began a relationship in 2016, and they had their last contact last year, Allred said.

Hammer’s attorney said in a statement that from the beginning he has maintained that all of his interactions with Effie and every other sexual partner “have been completely consensual, discussed and agreed upon in advance, and mutually participatory.”

The statement called her allegations “attentionseeking and ill-advised” and said “her own correspondence with Mr. Hammer undermines and

Armie Hammer

refutes her outrageous allegations.”

“With the truth on his side, Mr. Hammer welcomes the opportunity to set the record straight,” Andrew Brettler said. The statement included a screenshot that Brettler said was a text message exchange in July of last year between Hammer and Effie, in which she expresses a desire for rough, forceful sex with him, and he responds by saying he no longer wants a relationship with her.

The 34-year-old actor was married at the time to television personality Elizabeth Chambers. They divorced last year.

Hammer first gained fame through playing twins in 2010’s The Social Network, and is best known for his starring roles in 2017’s Call Me By Your Name and 2013’s The Lone Ranger.

Most recently, Hammer starred in the Netflix remake of Rebecca. A sequel to Call Me by Your Name with Timothée Chalamet has also been in

development. Allegations of sexual violence in recent months have derailed Hammer’s career.

Earlier this year, an Instagram account began posting screenshots of text messages allegedly from Hammer as far back as 2016.

Allred would not comment on whether her client was behind that account, @houseofeffie. When those text messages began appearing in media reports, Hammer called them “vicious and spurious online attacks against me.”

After those texts were published, Hammer departed the comedy Shotgun Wedding, in which he was to star alongside Jennifer Lopez, shortly before production was to begin. He soon after departed the Paramount+ series The Offer, about the making of The Godfather.

Hammer was also dropped by his agency, WME. n AP film writer Jake Coyle contributed to this report.

B6 Tuesday, March 23, 2021

Nickel Asia is first PH mining company accepted at UNGC

PhilHealth offers online payment window for self-paying individuals

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HE Philippine Health Insurance Corporation (PhilHealth) announced that self-paying members can now pay their health insurance contributions using the recently launched PhilHealth Member Portal.

Using the Portal’s payment management module, they can generate their Statement of Premium Account (SPA) that serves as their billing statement.

Self-paying individuals may also select the number of months that they will pay for – from one month to a maximum of three years. After selecting the desired payment range, the module will automatically compute the total contributions due for payment based on their declared income and indicate the due date.

After generating their SPA, the payor then proceeds with choosing the accredited collecting agent (ACA) which will process their payment.

Currently, PhilHealth has engaged IPAY-MYEG Philippines, Inc. as its payment partner. Other partners such as PayMaya will soon be added.

The payor will then be directed to the ACA’s domain to make the payment either using Visa or Mastercard credit, debit, pre-paid cards, or GCash.

Minimal convenience and service fees will be applied to each transaction. For each successful payment, members will receive their electronic PhilHealth Acknowledgement receipt or ePAR and an e-mail or SMS confirmation.

This payment option will soon be available to Overseas Filipino Workers.

PhilHealth President and CEO Atty.

Dante A. Gierran said that this is a welltimed development since many Filipinos

still encounter travel restrictions due to the COVID-19 pandemic. “Now, they can conveniently pay their contribution at the comfort of their homes."

Meanwhile, self-paying members who prefer to pay over-the-counter may still do so by presenting their SPA at any PhilHealth office or its accredited collecting agents nationwide. They will be issued the usual hard copy of the receipt as proof of payment.

Tiger Crackers partners with Rise Against Hunger and Pasig City for feeding initiatives

TIGER Crackers supports the Pasig City Local Council of Women (PC-LCW) with partner Rise Against Hunger Philippines. From left: Atty. Joseph Fabul, Country Manager for Corporate and Government Affairs of Mondelez Philippines, maker of Tiger Crackers; Pasig City Councilor Corazon Raymundo, PhD; Rosalinda Dela Paz Magat, President of PC-LCW; Pasig City Mayor Vico Sotto; Jomar Fleras, Executive Director of Rise Against Hunger Philippines; and Kristine Enriquez, Brand Manager of Tiger Crackers.

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N celebration of Women’s Month this March, snack brand Tiger Crackers has strengthened its commitment to support communities in danger of facing hunger. Together with long-time food bank partner Rise Against Hunger Philippines, the company has donated 6,000 packs of its products to the Pasig City Local Council of Women (PC-LCW). This support aims to extend much-needed food to women and their families as the Philippines continues to be under lockdown and dealing with the challenges of the pandemic.

Tiger Crackers is the newest cracker brand in the Philippines, launched in 2020. It is made by Mondelez Philippines, a snacks company with 58 years of existence in the country.

Mondelez Philippines aims to empower people to snack right, with the right snack for the right moment and made the right way. Tiger Crackers

is the right and delicious snack, that can be enjoyed any moment with only 120 calories per pack, and made with right way through a unique baking technology that makes it crispier and more enjoyable. Launched in the middle of the pandemic, the brand has continuously worked to support communities who are struggling, first by providing snacks to transport workers during the stricter lockdown last year. Today, Tiger Crackers aims to support the backbone of homes, those who are working doubly hard these days to ensure their families remain healthy and safe: Women and mothers.

Rise Against Hunger (RAH) Philippines is a member of Rise Against Hunger, an international hunger relief organization that distributes food and life-changing aid to the world’s most vulnerable, mobilizing the necessary resources

to end hunger by 2030. To support Rise Against Hunger Philippines’ newly formed partnership with the PC-LCW, Tiger Crackers shared cases of its products for the benefit of the more than 90 member groups of the council. During the signing of the Memorandum of Agreement (MOA) with the PC-LCW, Pasig City Councilor Corazon Raymundo, PhD, Chairperson of the City’s Gender and Development Committee, shared the amazing work that the council does to support women and provide them resources, thereby supporting their families and communities in the process. During this time of the pandemic, Councilor Raymundo and the PC-LCW go to barangays most in need of food relief to help ensure everyone in their community is reached and provided for. Tiger Crackers will continue to provide support to RAH and PC-LCW to support more families.

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ICKEL Asia Corp. (NAC), proudly announces that it has been acknowledged as the first mining company in the Philippines to be accepted among the newest members of the United Nations Global Compact (UNGC).

The world’s largest sustainability initiative, UNGC “supports global companies that are committed to responsible business practices in the areas of human rights, labor, the environment, and corruption”.

Officially launched at the United Nation’s headquarters in New York in 2000, UNGC is based on a series of Principles that UN believes must be followed in order for a company to maintain its environmental and social responsibilities.

Having voluntarily signed up for the compact, NAC has agreed to uphold these principles.

“This is a huge deal for all of us at NAC because it effectively binds us to the proverbial umbilical cord of what UNGC represents to the world,” says Dennis Zamora, President and CEO of NAC. Zamora, youngest President and CEO in the mining industry, son of mining icon Manny G. Zamora and founder of NAC, recently took the helm from Chamber of Mines of the Philippines (COMP) and current NAC Chairman, Gerry H. Brimo.

In order to be considered as member, NAC had to lay bare to UNGC its value system and its approach to doing business in the communities. NAC also had to share how the company’s relationships with all its stakeholders are the actual narratives of its best mining practices.

UNGC emphasizes that “member companies of the UN Global Compact are expected to act in environmentally responsible ways with regard to climate change, water

MARTIN ‘Dennis’ G. Zamora, NAC President and CEO, says “the UNGC membership is huge deal for all of NAC.” and sanitation, energy, biodiversity, and food and agriculture. They are also expected to recognize the link between environmental issues, and social and development priorities”.

JB Baylon, NAC VP for Corporate Communications, says the standard operating procedures in all the mining companies under the NAC umbrella have long been setting the stage for the UNGC membership.

“The UNGC principles have been integrated in our corporate strategies and day-to-day operations and our membership to this global pact exposes the NAC companies to a more intense peer review which in effect will be beneficial to the industry as a whole because, as you see, mining continues to fight in the reputation category and UNGC will help demonstrate our track record as we publicly report on how effectively we manage environment, social and governance issues,” Baylon elaborates.

PHA and PSH support the National Immunization Program for COVID-19, recommend guidelines on hypertension control

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RANSIENT blood pressure elevations were reported during vaccination, but to date, none are directly attributed to any of the COVID19 vaccines. Blood pressure elevation may be due to pain on injection site, anxiety, environmental factors, or a reflection of preexisting undiagnosed or uncontrolled hypertension. This is according to the Philippine Heart Association (PHA) and the Philippine Society of Hypertension (PSH).

It is equally important that screening for, and optimal control of hypertension are continuously done in the community to reduce the risk of severe COVID19 complications. Hypertension is NOT a disqualifier to COVID-19 vaccination and to date, none of the COVID19 vaccines with EUA approval for patients with comorbidities specifically state that elevated blood pressure is a contraindication. The risks of vaccination are outweighed by the large benefit that includes the significant reduction of severe COVID infection and mortality.

Released on March 19, the PHA and PSH specifically recommend the following: 1. Accurate blood pressure measurement must be done before and after vaccination.

Accurate BP measurement must be done in a quiet room with comfortable temperature, and must be done at least 30 minutes after exercise, drinking coffee, or smoking, and ideally after voiding urine. The cuff bladder must cover 75 to 100% of the individual’s arm circumference. The patient must be seated, with the back supported, and feet flat on the floor. BP must be taken with the arm bare and resting, with the mid arm at heart level, and the cuff bladder must cover 75 to 100% of the arm circumference.

2. Elevations of the sBP > 180 and /or dBP >120 with signs and symptoms of target organ damage.

(TOD) or hypertensive-mediated organ damage (HMOD) such as Acute Coronary Syndrome, Heart Failure, Stroke and Acute Kidney Injury, is considered as Hypertensive Emergency and should be referred to the ER immediately (level I, 2017 ACC AHA). In this case vaccination is ideally rescheduled.

Symptoms of TOD or HMOD include headache and dizziness attributed to a possible neurologic deficit, visual disturbance, chest pain, and difficulty of breathing).

Elevations of the sBP > 180 and /or dBP >120 without TOD/ HMOD is considered as Hypertensive Urgency. Patients in such cases are advised to reinstitute or intensify oral treatment and arrange for close follow up (2017 ACC AHA).

3. Individuals with BP elevations not classified as Hypertensive Emergency, may be vaccinated, but must be observed for 30 to 60 minutes post vaccination, monitoring for evolving signs or symptoms of hypertensive emergency, as well as hypotension.

4. Sublingual medications to lower the blood pressure are no longer recommended. Conservative measures including relaxation techniques such as deep breathing exercises, placing the patient in a comfortable environment, allowing patient to void, may help.

5. All individuals with persistent BP elevation not classified as Hypertensive Emergency must be counseled to seek clinic consult for proper work up the soonest possible time.

PHA and PSH will continue to monitor the rapidly evolving landscape of COVID19 vaccination and are committed to update these interim statements as needed or as new data become available.

Perfect together: classic Filipino dishes and Thai’s Royal Umbrella Rice

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VAILABLE now in supermarkets in Luzon, Visayas, and Mindanao, Royal Umbrella is a brand of premium Thai Jasmine rice (Hom Mali), cultivated from Thailand’s finest natural resources and expertise. This month, savor the taste of two distinct cultures when you pair Royal Umbrella rice withclassic Filipino ulams (main courses).

Bicol Express.There’s nothing more comforting than coming home to a nice, warm bowl of Bicol Express after a long day out. Inspired by the flavors of the region, Bicol Express is a rich and hearty pork dish that is elevated by the presence of sautéed chili and coconut milk.

Daing na Bangus. Whether it’s breakfast, lunch, or dinner, Daing ng Bangus is a staple that can be eaten at any time during the day. Paired with rice and a side of fried

egg and atchara (pickled papaya salad), Daing ng Bangus is sure to satisfy your cravings.

Pinakbet. Lovingly known as “Pakbet”, this Ilocano staple is made from a blend of easily-accessible vegetables.

With flavors accentuated by the use of bagoong, Pinakbet is an easy-to-cook dish that can stand on its own or served with Lechon Bagnet or Daing ng Bangus.

Beef Nilaga. When it comes to homemade Filipino comfort food, nothing hits closer to home than a warm bowl of Nilagang Baka. Beef Nilaga is a simple and hearty stew made from slow boiled cuts of beef and vegetables inspired by Cocido, a slow-cooked Spanish stew.

Gising Gising. Similar to Bicol Express, Gising Gising is a coconut-based pork and vegetable dish that packs a punch. Don’t be afraid to make extra rice, you are going to want multiple servings.

Elevate the experience of savoring your favorite Filipino meals by choosing Royal Umbrella rice. Royal Umbrella rice is made from the highest-quality Thai rice and comes in three signature offerings: Thai Hom Mali Rice (Royal Umbrella Red)--Made from the best-quality Jasmine rice, Royal Umbrella Red possesses a beautiful fragrance and soft texture; Thai Jasmine Rice (Royal Umbrella Green)--Light Jasmine fragrance with a soft and sticky texture once cooked; and Fragrant Rice (Royal Umbrella Orange)--An aromatic and affordable soft rice.

Now available now at your neighborhood supermarkets nationwide and online via LazMart for easy delivery anytime, anywhere.

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

The World

Taiwan kicks off vaccination drive with AstraZeneca shot

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AIPEI, Taiwan—Healthcare workers received the first shots in Taiwan’s Covid-19 vaccination drive on Monday, beginning a campaign that won’t use supplies from China amid uneven distribution of the vaccines globally.

Taiwan has on hand 117,000 doses of the AstraZeneca vaccine, which it is distributing to healthcare workers across 57 hospitals.

Taiwanese premier Su Tsengchang launched the drive by receiving the first shot at National Taiwan University Hospital in the capital Taipei. “After 30 minutes of rest, there’s no signs of any discomfort,” he said.

The rest period is for monitoring recipients for any adverse reactions.

Last week, more than a dozen nations suspended use of the AstraZeneca vaccine after a few dozen people among the millions who’ve received the vaccine developed blood clots. The European Union’s drug regulatory agency concluded after a review it couldn’t rule out a direct link but the benefits of using the vaccine outweigh the possible risks.

Taiwan has signed contracts securing 10 million doses of the AstraZeneca vaccine, 5.05 million doses of the Moderna vaccine, and 4.76 million doses of vaccines through COVAX.

Currently, Taiwan has recorded 1,006 confirmed cases of Covid-19, most of those from visitors coming from abroad. It has been one of the most successful places in the world in the battle against the pandemic, owing to strict public health and border control measures.

The island is planning to administer its full initial supply to 117,000 individuals to ensure the broadest protection. The first dose provides an efficacy rate of 71 percent and the second dose— meant to be given eight weeks later—boosts its effectiveness to 81 percent, authorities have said previously.

Taiwan has yet to announce a vaccination campaign for the public.

Countries around the world a re scra mbl ing for vacc ines, which have been distributed unevenly with rich countries buying up a majority of the doses. China has stepped in to offer hundreds of millions of doses of its own vaccines across the developing world, but Taiwan has refrained from buying them.

Taiwanese law bans import of Chinese vaccines made for human use. The island’s health minister had said in February there were no considerations to amending the law and no experts have made a special recommendation for Chinese vaccines. AP

North Korean diplomats leave Malaysia after ties are severed

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UALA LUMPUR, Malaysia—North Korean diplomats vacated their embassy in Malaysia and were expelled on Sunday, after the two nations cut diplomatic relations in a spat over the extradition of a North Korean criminal suspect to the United States.

The North Korean f lag and embassy signage were removed from the premise in a Kuala Lumpur suburb. Two buses ferried the diplomats and their families to the airport, where they were seen checking in for a flight to Shanghai.

Malaysian Foreign Minister Hishammudd in Hussein sa id the expulsion was in response to Pyongyang’s “unilateral and utterly irresponsible decision” on Friday to sever diplomatic ties.

“This action is a reminder that Malaysia shall never tolerate any attempt to meddle in our internal affairs and judiciary, disrespect our governance system and constantly create unnecessary tensions in defiance of the rules-based international order,” he said in a statement.

Ties bet ween North Korea and Malaysia have been virtually frozen since the 2017 assassination of the estranged half brother of North Korean leader K im Jong Un at Kuala Lumpur International A ir port.

Two days after Kuala Lumpur extradited a North Korean man to the US to face money-laundering charges, a furious North Korea on Friday announced it was terminating ties with Malaysia. Malaysia denounced the decision and in a titfor-tat response, gave North Korean diplomats 48 hours to leave.

K i m Yu S ong , t he c h a rgé d ’affaires and councilor in Kuala Lumpur, said Malaysia had “committed an unpardonable cr ime.” Echoing P yong yang’s earlier statement, he accused Malaysia of being subser vient to the US and being part of a US conspiracy aimed at “ isolating and suffocating” his countr y.

“The Malaysian authority delivered our citizen to the US in the end, thus destroying the foundations of the bilateral relations based on respect of sovereignty,” he said in a short statement outside the embassy, before heading

to the airport.

North Korea has called the money laundering charges an “absurd fabrication and [a] sheer plot” orchestrated by the US and warned Washington will “pay a due price.”

Some experts say cutting ties with Malaysia was North Korea’s way of showing anger with President Joe Biden’s administration, without jeopardizing an eventual return to nuclear negotiations with Washington.

North Korea has insisted it won’t engage in talks with Washington unless it abandons what Pyongyang’s perceives as a “hostile” policy. But experts say North Korea will eventually seek to return to diplomacy to find ways to get sanctions relief and revive its moribund economy.

Malaysia has defended its move to extradite Mun Chol Myong, saying it was carried out only after all legal processes have been exhausted. A top court ruled Mun can be extradited after rejecting his appeal on grounds that the US charges were politically motivated.

Mun, who lived in Malaysia for a decade and was arrested in May 2019, has denied US accusations that he was involved in supplying luxury goods from Singapore to North Korea in violation of UN sanctions while working in the city-state. He denied laundering funds through front companies and issuing fraudulent documents to support illicit shipments to his country.

North Korea has long used Malaysia as a crucial economic hub where it handled trade, labor exports and some illicit businesses in Southeast Asia, but their relations suffered major setbacks over the 2017 killing of Kim Jong Nam. Two women—one Indonesian and the other Vietnamese—were charged with colluding with four North Koreans to murder Kim Jong Nam by smearing his face with VX nerve agent. The four North Koreans fled Malaysia the day Kim died. The two women were later released after a trial.

Malaysian officials never officially accused North Korea of involvement in Kim’s death, but prosecutors made it clear throughout the trial that they suspected a North Korean connection. AP

BusinessMirror

Tuesday, March 23, 2021

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Doctors join protest in Myanmar as crackdown claims more lives

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ANDALAY, Myanmar— Health-care workers marched through Myanmar’s secondbiggest city on Sunday as part of a broad civil disobedience movement against last month’s coup. While their protest was left alone, security forces used violence elsewhere and shot dead at least one person.

About 100 doctors, nurses, medical students and pharmacists, wearing long white coats, lined up on a main road in Mandalay to chant slogans and voice their opposition to the February 1 coup that toppled the elected civilian government of Aung San Suu Kyi. Mandalay has been a major center of opposition to the takeover, and later in the day engineers there held what has been dubbed a “no-human strike,” an increasingly popular tactic that involves lining up signboards in streets or other public areas as proxies for human protesters.

Video recorded in Mandalay showed a motorcyclist apparently being shot off his motorbike by police on an empty street.

As the people who recorded the video shout “He’s been hit! He’s been hit! Go and rescue him!” police quickly appear and swarm around him just after he slumps to the ground. Police led him away on foot while another officer rides off on the motorbike. It

isn’t clear how badly he was hurt or what happened to him.

The civil disobedience movement has used widespread boycotts, strikes and other actions with the aim to restore civilian government and return Myanmar to its slow march toward democracy that began nearly a decade ago after a half-century of military rule.

In recent weeks, street protests have faded as a tactic in the face of rising deaths as police and soldiers have shot live fire into crowds and indiscriminately detained people.

The independent Assistance Association for Political Prisoners had verified 247 deaths nationwide but says the actual total, including cases where verification has been difficult, is probably much higher.

At least one protester was shot dead Sunday in Monywa, another central Myanmar city, according to the online news site Myanmar Now and numerous social media posts.

Myanmar Now, citing a doctor in Monywa, identified the victim

Armed police remove makeshift blockages set up by protesters as they patrol streets in downtown Yangon, Myanmar on March 21. Protests against the coup continued in cities and town across the country, including in Mandalay and Yangon. AP Photo

as Min Min Zaw, who was shot in the head as he was helping assemble barricades for a protest.

Virtually all the dead since the coup have been shot, many of them in the head.

Elsewhere, students, teachers and engineers marched in Dawei, a city in southeastern Myanmar that has become a hotspot for opposition and has seen at least five killings by security forces.

On Sunday, protesters broke into small groups and varied the timings of their marches in an effort to avoid confrontations.

In a more rural outlying area, protesters from several villages in Launglone Township held their protest on motorbikes.

In Yangon’s Thaketa neighborhood, a funeral was held Sunday for 15-year-old high school student Aung Kaung Htet, who was

Worst flooding in decades isolates dozens of towns in Australian state

killed a day earlier, Myanmar Now reported.

According to posts on social media, Thaketa was one of several areas where police fired their guns Sunday, the others including Tachileik and Taunnggyi in Shan State in eastern Myanmar, and Gangaw, a town in Magway Division in the west-central part of the country.

The protesters’ cause over the weekend received support from demonstrations in several places abroad, including Tokyo, Taipei in Taiwan and on Times Square in New York City.

In addition to deaths since the coup, the Assistance Association for Political Prisoners has confirmed 2,345 people have been arrested or charged since the coup, with 1,994 still detained or sought for arrest. AP

Pope decries shame of racism, like virus that lurks in waiting

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Debris floats down the Nepean River at Jamisontown on the western outskirts of Sydney on March 22. Australia’s most populous state of New South Wales has issued more evacuation orders following the worst flooding in decades. AP/Mark Baker

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A N B E R R A , A u s t r a l i a — H u n d re d s of people have been rescued from floodwaters that have isolated dozens of towns in Australia’s most populous state New South Wales and forced thousands to evacuate their homes as record rain continues to inundate the country’s east coast.

Around 18,000 people had been evacuated from flooding in New South Wales by Monday and emergency services feared up to 54,000 people could be displaced with rain forecast to continue until Wednesday.

Prime Minister Scott Morrison told Parliament that 35 communities in northern New South Wales had been isolated and emergency services had conducted more than 700 flood rescues.

“We are grateful at this point that no lives have been lost so far,” Morrison said. “But weakened foundations for buildings, for roads and trees, they all create risk, as do downed power lines and rising water levels.”

A year ago, vast swathes of New South Wales had been charred by unprecedented wildfires following years of drought that gripped most of the state.

Some of the same areas were now being inundated by one-in-50-year and one-in100-year rain events.

Ne w S o u t h Wa l e s Pre m i e r G l a dy s Berejiklian said up to 38 parts of the state had been declared natural disaster areas.

“I don’t know any time in our state’s history where we have had these extreme weather conditions in such quick succession in the middle of a pandemic,” Berejiklian told reporters. “So, they are challenging times for New South Wales.”

Thousands of people have been affected with 40 flood warnings and 20 evacuation orders along the state’s Mid North Coast, and in western Sydney. Houses had been submerged and destroyed while several communities had lost power.

Heavy rain will remain a serious risk on Tuesday for the Mid North Coast, where communities are facing the worst flooding conditions since 1929.

Communities along the Hawkesbury River were also bracing for the worst flooding in the area since 1961.

Bureau of Meteorology national flood services manager Justin Robinson described the rainfall as a “very significant flood event for New South Wales.”

“I’ve been a flood forecaster with the bureau for 20 years and this is probably the worst flooding that I’ve experienced,” Robinson said.

Nepean River levels at Penrith on Sydney western outskirts had peaked late Sunday at a higher level than the 1961 record and the Hawkesbury River floodwaters at Windsor, northwest of Sydney, were expected to peak late Monday around a 1988 record level, Robinson said. AP

ATICAN CITY—Pope Francis on Sunday denounced racism, likening it to a virus that lurks in waiting and only to emerge and show that “our supposed social progress is not as real or definitive” as people think.

Francis tweeted on racism on the date that the United Nations marks as International Day for the Elimination of Racial Discrimination.

The pope likened racism to a “a virus that quickly mutates and, instead of disappearing, goes into hiding, and lurks in waiting.”

“Instances of racism continue to shame us, for they show that our supposed social progress is not as real or definitive as we think,” Francis tweeted, adding the hashtags #FightRacism #FratelliTutti. “Fratelli Tutti’’ is the title of the encyclical, or special teaching document, which the pope issued last year in the midst of the Covid-19 pandemic to press for solidarity, brotherhood and care for the environment worldwide.

In his tweet, Francis cited no particular instance of racism or place. Throughout his papacy, he has championed the rights of people who are marginalized in societies, including migrants.

The annual UN commemoration on March 21 falls on the anniversary of the day that police in Sharpeville, South Africa, opened fire and killed 69 people at a peaceful demonstration against apartheid laws in 1960. AP

Sports

Future gets brighter for Ancajas under new promoter–Gibbons

BusinessMirror

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ORE lucrative fights will open up for Jerwin Ancajas under new promotion Premier Boxing Champions (PBC) of Al Haymon if he defends his International Boxing Federation (IBF) super flyweight belt against mandatory challenger Jonathan Javier Rodriguez of Mexico on April 10 at the Mohegan Sun Casino in Connecticut.

Big Boss Cement president and chief company innovator Engineer Gilbert Cruz and international matchmaker Sean Gibbons announced Ancajas’s new partnership with PBC in an online press conference on Monday.

Gibbons said the new partnership would provide Ancajas the opportunity to fight former world champion Srisaket Sur Rungvisai of Thailand, Roman Gonzalez of Nicaragua and unified world champion Juan Francisco Estrada also of Mexico.

“Sky’s the limit for Jerwin [Ancajas] under PBC,” said Gibbons, adding that parting ways with Top Rank of Bob Arum was “mutual and fine for both parties.”

“We’re still good with Top Rank, we’re still

B8

| Tuesday, March 23, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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ILIPINO athletes and coaches went the extra mile in a year when sports were shut down by doing their share to help the community cope with the Covid-19 pandemic.

Athletes who also serve in the military and police, as well as those who have day jobs as nurses, doctors or health workers served as frontliners, risking their own health and safety while keeping abreast with their sports by doing online training.

In appreciation for their effort and supreme sacrifice, the frontliner athletes will be given a Special Recognition in the San Miguel Corp.Philippine Sportswriters Association (SMC-PSA) Annual Awards Night on Saturday at the TV5 Media Center.

The special citation is part of the honor roll for 2020 the country’s oldest media organization headed by Manila Bulletin sports editor Tito Talao will be recognizing in the event presented by San Miguel Corp. and backed by the Philippine Sports Commission (PSC) and Cignal TV. The virtual Awards Night, also backed by 1Pacman Partylist, Chooks-to-Go and Rain or Shine, will be aired on Monday over OneSports+ from 7 p.m. to 8:30 p.m.

Southeast Asian Games gold medal winners Nikko Huelgas and Claire Adorna of triathlon, men’s volleyball coach Dante Alinsunurin and players Jessie Lopez and Ranran Abadilla, University of Santo Tomas women’s volleyball coach Kung Fu Reyes and women’s national team member Jovelyn Gonzaga were among the frontliner athletes who went out of their way and served the country when help was needed.

Huelgas, 29, was even given a military merit medal by the Philippine Air Force for his immediate response in helping out Filipinos

Davao hero Yee feels very much at home at MPBL

FRONTLINER ATHLETES HONORED

MVP COMMITS 1.5K VACCINES FOR PBA

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TRIATHLETE Nikko Huelgas and volleyball player Jovelyn Gonzaga go out of their way to contribute to the fight against the pandemic.

during the early part of the pandemic.

Pro golfer Yuka Saso will join Huelgas and Co. during the awards rite as the Athlete of the Year, while Philippine Olympic Committee President Abraham “Bambol” Tolentino will receive the President’s Award and Philippine Basketball Association Commissioner Willie Marcial will be

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ARK YEE has proven himself worthy yet again by sinking the title-clinching three-pointer in the Davao Occidental Cocolife Tigers’ 89-88 Game 5 win over the San Juan Knights in the Maharlika Pilipinas Basketball League (MPBL) Lakan Cup Finals on Sunday night at the Subic Bay Freeport Gym bubble.

bestowed the Executive of the Year honor.

Sports pillars led by former Project: Gintong Alay Director Jose Romasanta, former PBA Commissioner Renauld “Sonny” Barrios and the late ambassador and basketball godfather Eduardo “Danding” Cojuangco will each be conferred with a Lifetime Achievement Award, And at 39 years old, Yee is content at keeping his act in the local government unitbased league.

“I’m happy playing here. God made me an instrument for this championship,” Yee told BusinessMirror. “I am so blessed to have a job despite the pandemic and I would like to extend my sincerest thanks to Sen. Manny

good with Bob Arum, but this opportunity came up to open up things, Gibbons said. “There was no issue on Top Rank, it’s just the pandemic.”

Rungvisai is sporting a 50-5-1 win-loss-draw record with 43 knockouts while Gonzales, also a former world champion, holds a 50-3 record with 43 knockouts.

World Boxing Council and World Boxing Association super flyweight titlist Estrada sports a 42-3 record with 28 knockouts.

But Gibbons, who heads Senator Manny Pacquiao’s MP Promotions, warned Ancajas (32-1-2 with 22 knockouts) about his ninth title-defense.

“It’s going to be an explosive type of FilipinoMexican rivalry just like Manny Pacquiao’s fights with Mexican warriors,” he said.

Ancajas’s trainer and manager Joven Jimenez said his ward is 90 percent to 95 percent ready for the fight.

Mark “Magnifico” Magsayo, who will be fighting Houston native Pablo Cruz in a non-title featherweight bout as one of the undercards, also graced the online news conference. Josef Ramos

while the major awardees for 2020 include world boxing champions Johnriel Casimero and Pedro Taduran and young tennis ace Alex Eala.

Citations will also be given to 20 personalities and entities as well as the “Manok ng Bayan” Fan Favorite award to boxing legend Manny Pacquiao.

Pacquiao for creating this league which gave me a huge opportunity.”

Yee nailed a cold-blooded trey from the corner with 13.4 seconds left to give the Tigers an 89-88 lead and became a hero twice over when he blocked Jhonard Clarito’s attempt in the ensuing play.

Practically one of the more underrated players with quite a temper in the Philippine Basketball Association, Yee chalked up a double-double of 19 points and 12 rebounds with three assists and three blocks. He was

HILIPPINE Basketball Association (PBA) Chairman Ricky Vargas said businessman tycoon Manuel V. Pangilinan will donate 1,500 doses of Covid-19 vaccines to the pro league once they are available in May. “It’s really a very good gesture of MVP [Manuel V. Pangilinan]. He allocated 1,500 doses for the PBA,” Vargas told BusinessMirror on Monday, noting even the league employees’ families and dependents will be included in the vaccine program.

“It’s two vaccines for one person, so two for 750 persons,” Vargas added.

Vargas added Pangilinan expects a total of 1.2 million doses from Moderna, AstraZeneca

Marcial gets inoculated in Las Vegas named Finals Most Valuable Player and the Defensive Player of the Year.

His performance sparked talks among fans of a possible comeback in the PBA where he won two championships with Talk ‘N Text. Yee, however, immediately extinguished the talks.

“I don’t see myself leaving the MPBL,” said the 6-foot-3 forward Yee, who also played for Burger King, Meralco, NorthPort and finally Kia Picanto (now Terra Firma) in the PBA before signing for Davao. Miguel La Torre

THE Davao Occidental- Cocolife Tigers celebrate their victory at the Subic bubble.

PSA Forum on NCAA, Milo

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PDATES on the National Collegiate Athletic Association Season 96 and the latest Milo campaign for 2021 headline a two-part session of the online Philippine Sportswriters Association (PSA) Forum on Tuesday.

NCAA Management Committee Chairman Fr. Vic Calvo Jr. of host Letran will provide for the a look-see on whether or not the country’s oldest collegiate league will push through with its new season this year amid the spike in Covid-19 cases in the country.

Milo on the other hand, will launch

its new campaign “Mula Noon, Hanggang Ngayon” with Nestlé Philippines-Milo Assistant Vice President Lester Castillo, Philippine Basketball Association legend and Milo Basketball Efficiency Scientific Training Center alumnus graduate Jerry Codiñera and and US NCAA rookie Ella Fajardo discussing the project.

The public sports program presented by San Miguel Corp., Go For Gold, Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. will start at 10 a.m.

Emergence of Glutagence Vincent Juico @VJuico, Instagram vpjp_j, vince.juico@gmail.com

SPORTS WITHOUT BORDERS ACCORDING to the sporting.news web site, in 2020 there were three National Basketball Association (NBA) franchises that had three picks in the draft. What does this have to do with the Women National Basketball League’s (WNBL) Glutagence Glow Boosters?

Nothing, but the three teams—Golden State Warriors, Charlotte Hornets and New York Knicks—if the season were to end today, the Hornets and the Knicks would barely make it to the playoffs at No. 6 and No. 7 and will have to compete in a play-in tournament while the Warriors wouldn’t make the playoffs but they’d qualify for the play-in tournament among the last three teams of the top nine teams in each conference.

Again, what does this have to do with

and Monovax.

“MVP ordered a total of 1.2 million doses for us [MVP Group of Companies]. With 1.2 million, you can inoculate around 600,000 individuals,” said Vargas without revealing how employees are working under the MVP group that includes PLDT, Smart, Meralco, Maynilad, among others.

“We have so many employees,” he said.

PBA Commissioner Willie Marcial thanked Pangilinan for his commitment.

“We are very thankful to MVP even though vaccines are not yet here. It’s a big help not only to the players but also to their families,” said Marcial, adding the league has also discussed with the Philippine Red Cross on AstraZeneca vaccines.

Josef Ramos

the Glutagence Glow Boosters, well, in this year’s WNBL draft, the first in league history, the Glow Boosters drafted three very good players—they picked first in each of the first three rounds of the 12-round draft.

The Knicks had two picks in the first round of the 2020 Draft and now, they’re in the thick of the playoff race with a chance to go even higher.

Will drafting three of the best players to ever play in Philippine women’s college basketball translate to a first-ever title for the franchise?

In basketball, whether it’s a men or women professional league, anything can happen. A few breaks of the game here, a few calls going your way there, can mean the difference between the joy of victory and the agony of defeat.

It will be interesting to see how the Splash

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By Josef Ramos

OKYO Olympicsbound Eumir Felix Marcial was already inoculated with a first dose of a Covid-19 vaccine last March 3, according to international MARCIAL matchmaker Sean Gibbons.

Besides Marcial, Gibbons said on Monday that International Boxing Federation (IBF) super flyweight champion Jerwin Ancajas, Jonas Sultan trainer and manager Joven Jimenez and his son Brendan were also vaccinated on the same date in Las Vegas, Nevada.

The MP Promotions president said they were inoculated with the Pfizer vaccine.

“It’s for Team Philippines, that’s how we do it,” Gibbons said. “We look after our guys.

No other Olympian has been vaccinated, only Eumir did.”

Gibbons said pro boxer Mark Magsayo was also vaccinated at the Homecare through Walgreens Drug Store also in Las Vegas.

“Marcial’s next dose is scheduled on Thursday [Friday in Manila] and I’ll get my shot by either April or May,” said Gibbons, adding Ancajas, Jimenez and Sultan will get their the second dose on April 11.

Marcial will be fighting in the men’s middleweight class along with Irish Magno (women’s flyweight) and recent qualifiers Nesthy Petecio (women’s featherweight) and Carlo Paalam (men’s flyweight). Also qualified for Tokyo are world champion gymnast Carlo Yulo and pole vaulter EJ Obiena.

Association of Boxing Alliances in the Philippines (Abap) President Ricky Vargas said the 25-year-old Zamboanga City boxer was very fortunate to have gotten his vaccine early enough.

“Marcial told me about it [vaccine] and he’s very fortunate that he was given the opportunity,” Vargas said. “We are thankful to his handlers. I hope all our athletes will be given a chance to get a vaccine.”

Sisters Khate Castillo and Camille Claro and fellow draft pick Fille Claudine Cainglet, with the team’s three protected players and several signees will develop chemistry without any practice time because of the pandemic.

The team will be lacking in size and length but will make up for it with speed and quickness on both ends of the court. Not just speed and quickness to get easy baskets but crisp passing together with ball and player movement. They’ll have to play zone most of the time to protect their frontcourt players especially against bigger and longer teams.

They’ll need to shoot a high percentage from the outside and rebound by committee because you can’t run without the ball. The lack of consistent strength and conditioning may be a factor the longer the season goes so the team may have to resort to playing halfcourt sets to conserve energy.

This is where the work of the trainers, the physical therapists and strength and conditioning coaches become vital and crucial.

We wish the Glutagence Glow Boosters and the other competing teams the best of luck. Our hope for them is an injury-free season and may they play their hearts out every game leaving everything on the court.

A BusinessMirror Special Feature

PAKISTAN 81st National Day

www.businessmirror.com.ph

AN OVERVIEW OF PAKISTAN-PHILIPPINES RELATIONS

Top exports to Pakistan include garments, paper products, cosmetics, dairy products, processed fruits, coconut products, tobacco, electronic components and machineries, iron, steel, cement and chemicals. Top imports from Pakistan include housewares, Textiles, processed foods, dairy products, marine products, fresh foods, tobacco, textile yarns and twines, and industrial products.

Philippine-Pakistan Joint Business Council

QUAID E AZAM MUHAMMAD ALI JINNAH Founder of Pakistan

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HE Philippines established diplomatic relations with Pakistan on 08 September 1949 through the opening of a Philippine Consulate in Pakistan. This was followed by the opening of the Philippine Embassy in Karachi in 1956. In May 1957, Pakistan’s then Prime Minister Husseyn Shaheed Suhrawardy made an official visit to the Philippines. This was reciprocated by President Diosdado Macapagal in July 1962. During the administration of former President Corazon Aquino, Pakistani Prime Minister Mohammad Khan Junejo made an official visit to the Philippines in May 1988. In 1989, President Aquino, on two occasions, held bilateral talks with the late Prime Minister Benazir Bhutto who was able to visit the Philippines in 1995 as a guest of former President Fidel Ramos. In 1997, the gesture was returned by President Fidel V. Ramos, only the second Philippine Head of State to visit Pakistan almost forty years after the first state visit of President Macapagal. State Visit of Pakistani President Pervez Musharraf to the Philippines took place on 18-20 April 2005.

During 2005 visit by Pakistan’s President, some agreements were signed namely; a Memorandum of Understanding on Cooperation to Combat Terrorism and Certain Other Crimes; Visa Waiver Agreement for Diplomatic Passport

DR. ARIF ALVI

President of Pakistan

Holders; Cultural Exchange Programme for 20052009; and a Memorandum of Understanding between the Philippine Trading International Corporation (PITC) and the United Marketing on the Importation of Medicines from Pakistan.

President Musharraf and President Arroyo agreed to cooperate against terrorism and to promote interfaith dialogue. On the 40th Anniversary of Al-Fateh Revolution of Libya, in September 2009 President Arroyo met Prime Minister Yousuf Raza Gilani held a meeting in Tripoli.

Consultative Mechanism

BOTH countries have a Policy Consultations Talks mechanism- 4th round of which was held in Islamabad in early 2018 during the visit by Undersecretary Foreign Affairs Mr. Enrique Manalo to Islamabad. On 8 March 1997, an agreement was signed by both countries to create a forum for Policy Consultations at the level of senior officials. The Policy Consultation Meeting serves as a forum for the DFA and the Pakistani Ministry of Foreign Affairs to discuss bilateral, regional and multilateral issues, present the political and economic policies of both governments, coordinate joint efforts, explore new areas for cooperation, and facilitate the conclusion of bilateral agreements.

IMRAN KHAN

Prime Minister of Pakistan

Economic Cooperation

THE Philippines and Pakistan signed two (2) economic agreements, namely the Philippines-Pakistan Trade Agreement and the Philippines-Pakistan Agreement for the Promotion and Reciprocal Protection of Investment, on 29 September 1961 and 23 April 1999 in Manila, respectively.

RP-Pakistan Joint Economic Commission (JEC)

DURING the 2nd RP-Pakistan Policy Consultations held last 01 April 2004, both sides agreed to rejuvenate the trade and investment relations between the Philippines and Pakistan through an RP-Pakistan Joint Economic Commission or JEC at the Ministerial. The first JEC also met for the first time in 2018.

Philippines-Pakistan Trade Relations

BILATERAL Trade in 2020 totaled US$ 154 million out of which Pakistan’s share in exports to the Philippines stood at US$ 120 million. There was a decrease of 10% in trade volume compared to 2019 figures, mainly due to COVID-19.

The highest trade balance a decade earlier stood at US$ 74 million in 2011 which has more than doubled in the past few years.

MESSAGE FROM H.E. DR. IMTIAZ AHMAD KAZI, AMBASSADOR OF ISLAMIC REPUBLIC OF PAKISTAN ON PAKISTAN DAY

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HE 23rd March which in Pakistan is referred to as PAKISTAN DAY is celebrated by all Pakistanis including those living abroad with great zeal and fervor. On this Day 81 years ago, the Muslims of Indian sub-continent in a gathering held in the historic city of Lahore under the banner of All India Muslim League, resolved to achieve a separate homeland where they could live in accordance with their religious values, culture and traditions in a just and free society. The event gave renewed vigor to the political struggle of the Muslims of India which culminated in attaining an independent State under the dynamic and inspiring leadership of Quaid e Azam Muhammad Ali Jinnah on 14 August, 1947.

While commemorating today the 81st Anniversary of Pakistan Day, I feel proud to feel that despite numerous challenges from within and outside, Pakistan has emerged as a strong, stable, dynamic and viable country showing progress in diverse fields, be it its pluralistic democratic institutions, judiciary, armed forces, education, economy, science or sports! I take this opportunity to congratulate all Pakistanis in the Philippines on this happy and momentous occasion. Though having chosen to living far away from their home country, they are serving as a great bridge in people-to-people contacts with the brotherly country of the Philippines. They are also a source of introducing Pakistan’s quality products in fruits, pharmaceuticals, sports etc. in the Philippines thus becoming a source and contributor toward the overall progress and prosperity of not only Pakistan, but also of the Philippines. In fact, they are the true ambassadors of Pakistan in promoting and further strengthening our bilateral ties.

Pakistan accords great importance to its relations with the Philippines. Bilateral relations between our two countries date back to 1949.

Spanning over several decades our relations have flourished in diverse fields. There is a reservoir of goodwill both in the public and private sector for Pakistan. Since my arrival in Manila five months ago, I have personally experienced this goodwill and am given the impression that Filipino brothers and sisters and quiet a sizeable number now living/married in Pakistan have experienced the same cordiality during their

interaction and stay in Pakistan.

Of course, the global challenge of COVID-19 has given set back to the programmes and speed that was expected in inter-state relations on a global scale, I am particularly excited to apprise the readers of this message that Pakistan-Philippines’ biulateral trade in the year 2020 was US$ 156 million which is slightly lesser than the 2019 figures of US$ 172 million. As usual, three-fourths of this volume is the exports from Pakistan to the Philippines. The Kinnow season which is about culminate witnessed an increase to the tune of 1500 containers this year compared usual traffic of 1000 containers from Pakistan. We have witnessed import of cement and minerals coming from Pakistan as the largest import item, followed by our competitively p[riced but quality pharma products, fruits and textiles to the Philippines (US$ 120 million worth exports to the Philippines in 2020). Rice is another commodity that can create its niche in the Philippines market.

Likewise, we are importers of primary material products, plants, cigarette paper, food preparations etc. from the Philippines (to the tune of US$36 million in 2020). While presenting my Credentials at the Malacanang Presidential Palace on the Honourable President Rodrigo Roa Duterte in December last year, the President also spoke of the Philippines’ desire to further promote our bilateral trade for which there is exists

lot of potential and scope.

Foreign Minister of Pakistan Makhdoom Shah Mahmood Qureshi has launched the Economic Diplomacy Drive and all Pakistan embassies abroad have been tasked to focus on increasing bilateral trade and investment relations. My own interactions with officials in the Department of Trade and Industry have been useful and both countries can achieve tremendous surge in bilateral economic ties once COVID-19 eases out.

Philippines forms an important component of our ‘Vision East Asia Policy’ which aims at enhancing our relations with the whole region in diverse fields. I am sure, during my stay in this beautiful country, we will witness increased exchanges between the two countries at different levels. We look forward to keep the public and private sector both engaged for enhanced cooperation and fruitful bilateral relations between our two countries in the years ahead.

Already our cooperation in the Agriculture sector has witnessed progress following the conclusion of MoU sometime ago. Yet another MoU on Defence Cooperation is under active consideration between our two countries. We look forward to have sharing of our best practices and countering extremism and violence with the Salam Centre of the Philippines National Police.

Pakistan has achieved considerable success in curbing militancy, extremism and terrorism during its more than a decade long war on terror and is willing to share its experiences and best practices with the global community in the long-term interest of regional and global peace and security.

I would also wish and work to see that someday twinning of Makati/ Manila with the Karachi City of Pakistan takes place to bring our cosmopolitan cultures together.

In the end, I would like to express my sincere thanks to the leadership, Government and the people of the Philippines for their support and cooperation in the promotion of friendly relations between our two countries. My best wishes for our own compatriots living and working in the Philippines in promoting bonds of brotherhood with an important ASEAN member country.

Maraming Salamat at Mabuhay! Long-live Pakistan- Philippines friendship.

THE Department of Trade and Industry (DTI) of the Philippines specifically the Bureau of Export Trade Promotion initiated the establishment of the Joint Business Council of which an agreement has already been signed by federation of Pakistan Chamber of Commerce and Industry and the Philippine Chamber of Commerce and Industry.

Some Important Bilateral Agreements nThe Air Transport Services Agreement signed on 16 July 1949; nTreaty of Friendship signed on 3 January 1951; nCultural Agreement signed on 15 August 1961; nTrade Agreement signed on 29 September 1961; nConvention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes and Income signed on 22 February 1980; nMemorandum of Understanding between Department of Interior and Local Government of the Philippines and the Ministry of Interior of Pakistan signed on 15 December 1995; nthe Memorandum of Understanding between the Philippine Nuclear Research Institute (PNRI) and the Pakistan Atomic Energy Commission (PAEC) in the Field of Peaceful Uses of Atomic Energy signed on 08 March 1997;

nMemorandum of Understanding between the Philippine International Trading Corporation (PITC) and United Marketing on the Importation of Medicines from Pakistan.

Of late, MoU on Agriculture has been signed between the two countries in 2018. Likewise, MoU on Defence Cooperation is under active consideration between the two countries.

Associations of Pakistanis in the Philippines

i) The Philippine-Pakistan Business Council (PPBC) The PPBC is a non-stock, non-profit association which envisions itself as one of the prime movers of growth on the Philippines and Pakistan trade relations. The Council intends to establish a strong channel of communications and strengthened network linkages with prospective business counterparts in Pakistan through the organization of events such as trade promotion conferences and seminars, exchange of business missions, participation in trade among others. Moreover, the Council aims to foster friendship and camaraderie among the business of the two countries. The PPBC was established towards the latter part of 2003. It was finally launched in September 2004. ii) Pakistan and Philippines Friendship Association Inc. This is an Association of Pakistani businessmen and entrepreneurs residing in the Philippines (mainly in Manila and Subic Bay) which has been registered with the host Government’s S&E Commission on 15 January 2021. It aims are evident from its title; to promote friendship, people to people contacts between the two countries as well as contribute in charitable causes as per the norms and laws of the host government and promotion of Pakistani culture and awareness.

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iii) Pakistan Welfare Association: This is yet another newly established Association of Pakistanis living in various parts of the entire Philippines. It is purely non-political and non-profit entity formed, for the purpose of assisting Pakistani diaspora in the Philippines in distress and assisting them in settling down well as also for help in legal matters so as to promote goodwill, people-to-people contacts, promotion of Pakistani culture and awareness about Pakistan. This Association has been registered on 2 February 2021. The Association also distributed rations during the last year’s COVID’s acute phase amongst deserving Pakistani and Filipino families.

Of late, PWA organised a welcome reception for the newly arrived Pakistan Ambassador in the Philippines His Excellency Dr. Imtiaz A. Kazi on 5 February 2021 which was attended, among others, by senior official from Law Enforcement Authorities/ Salam Centre of the Philippines. Pakistani community also expressed their solidarity on this occasion as 5th February marks Kashmir Solidarity Day for Pakistani and Kashmiris under illegal occupation in IIOJ&K.

Diaspora/the Expat Community in Pakistan and the Philippines

THERE are an estimated 2,000 plus Filipinos in Pakistan which includes few hundred permanent residents married to Pakistani nationals, around 1000 documented working visa holders (in IT, hotel industry, nurses, therapists, religious missionaries, those employed in textile mills and road construction projects, and workers from UN and other international organizations) and some irregular/undocumented residents.

Likewise, there is a matching number of Pakistani diaspora well settled in the Philippines (many of them married to local Filipinos) promoting goodwill and trade between the two countries

A BusinessMirror Special Feature

PAKISTAN 81st National Day

C2 Tuesday, March 23, 2021

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Philippine-Pakistan economic relations: Together towards mutual progress Pakistan’s new Ambassador His Excellency Dr. Imtiaz A. Kazi talks about historic mutual cooperation between the two countries and further steps to increase brotherly relations

By Maan D’Asis Pamaran

A

S Pakistan celebrates its National Day (Pakistan Day) on March 23 to commemorate its independence, Pakistan Ambassador to the Philippines Amb. Dr. Imtiaz A. Kazi talks about how the Philippines was one of the first and foremost countries to recognize their independence. He says, “From the opening of the first Philippine consulate in the capital city of Karachi in 1949, which was converted into a full-fledged embassy in 1956, we had a very good start in bilateral relations right from the birth of Pakistan.” He also notes the brotherly cooperation of the two countries at the SEATO (Southeast Asia Treaty Organization in 1950s) and the Philippine’s consistent support for Pakistan’s quest to attain Full Dialogue partner (FDP) status in the ASEAN (Association of South East Asian Nations).

Trade relations

ASIDE from lending mutual support in the international forae, the Philippines and Pakistan have also enjoyed mutually beneficial strong economic ties. “We have very excellent cooperation, and bilateral arrangements concerning exchange of goods in the shape of Joint Economic Commission (JEC).

We have Pakistan Philippines Business Council, Phil-Pak Friendship Association and also a Pakistan Welfare association. We have several Pakistan nationals who went to the Philippines to study in the 1980s and 1990s and many of

them settled here and developed enterprises and business ventures,” he says. Some of them are engaged in businesses like importing textiles, surgical equipment, and pharmaceutical products. “Many Pakistanis are owning and operating businesses here. In Subic Bay, we have a Pakistani group importing heavy cranes and other machinery from Japan. Kinnow (citrus mandarin) from Pakistan, for example, has 15% share in the total annual imports of that fruit by the Philippines The Ambassador notes that there is a big potential when it comes to trade, going beyond Pakistan’s rice and kinnow exports, particularly in the pharmaceutical industry as Pakistan produces some of the world’s quality pharma products at very minimal and affordable prices that are well-suited to a populous country like the Philippines to aid in its healthcare efforts. “Our surgical goods are also the best and we can export these here,” he adds.

According to available data, the Philippines exports to Pakistan include garments, paper products,

cosmetics, dairy products, processed fruits, coconut products, tobacco, electronic components and machineries, iron, steel, cement and chemicals. Of the Filipino products, he gives particular interest in coconut and palm exports and the textiles that are made using natural materials. He hopes that the current US$170 million annual trade figures can be improved considerably given the vast untapped potential.

Strengthening ties through leadership contacts

ONE of the ways that Amb. Kazi says can strengthen economic ties is through exchange of visits at the heads of state level between the two countries. In the past 74 years of Pakistan’s existence, leaders from both countries have exchanged visits to bolster the bilateral relations.

In May 1957, Pakistan’s Prime Minister Husseyn Shaheed Suhrawardy made an official visit to the Philippines which was reciprocated by President Diosdado Macapagal in July 1962. Pakistani Prime Minister Mohammad Khan Junejo made an official visit to the Philippines during the administration of President Corazon Aquino in May 1988, and Prime Minister Benazir Bhutto visited the Philippines in 1995 as a guest of former President Fidel Ramos. President Ramos visited Pakistan in 1997, the second Philippine head of state to visit Pakistan almost forty years after the first state visit by President Macapagal.

Amb. Dr. Kazi hopes that during his stay in this beautiful coun-

try, he will work hard to see that a State visit is made possible from the Philippine side at the President level (He, in fact, would like to see that President Rodrigo Duterte, who is highly admired in Pakistan for his war on drugs and his bold initiatives to restore peace and stability in the Mindanao Region, could take a visit as and when Pandemic-related circumstances ease out.

As he presented his credentials to President Duterte in Malacanang last December, the President recalled excellent cooperation between Pakistan and the Philippines specially ‘our sharing of intelligence and best practices to get rid of violence and extremism and in countering terrorism.’ This administration, he says, is admired in Pakistan for its sincere efforts “towards restoration of peace and stability in the Mindanao region, which has brought increased trust and stability among the stakeholders, and significant prosperity for the people of the region and the country.”

President Duterte, during Amb. Kazi’s Credential ceremony, had also fondly mentioned about visit on-board a Pakistan Navy Ship PNS SAIF in December 2017 when it paid a goodwill visit to the Philippines. He was accompanied by Defense Secretary Delfin Lorenzana and graced the occasion as a special gesture of friendship for Pakistan.

Historic, fraternal ties

AMB. Dr. Imtiaz A. Kazi notes that enhanced people-to-people contact will also help boost the relations between the two countries. While

INVEST IN PAKISTAN

P

AKISTAN’S unique geostrategic location, vast human and natural resources and growth potential provide an attractive incentive. Pakistan as an investment destination, offers friendly policies and commitment to maximize and enhance investors comfort and confidence level. Almost all sectors of economy are open to investment with attractive incentives and liberal policies.

The traditional as well as non-traditional sectors of our economy offer the business community great opportunities to invest in the country and earn the maximum returns. The Food Processing, Logistics, Automobiles, Information Technology and Information Technology enabled Services, Housing and Construction, Manufacturing, Financial Business, Oil and Gas Exploration, Trade, Tourism, and Textile sectors are some of the areas, which are ripe for the foreign and domestic investment, or the mutual benefits of all.

With the mandate of Board of Investment (BOI), Investment is promoted, encouraged and facilitated both local and foreign investment.

Pakistan has introduced various reforms to improve business climate through its Ease of Doing Business Initiative. Under the existing situation, when Covid-19 is affecting almost every country around the globe, enabling business environment is required to exploit the available opportunities and to

Filipinos and Pakistani migrant workers form bonds overseas in the Gulf countries what he calls “regional rendezvous”, he says more needs to be done. “Filipino workers whom I have met in Doha when I was stationed there from 2005 2007 are familiar with our basmati rice and Biryani. Same stories of fraternal exchanges I heard about Pakistanis when I met Overseas Filipino workers who had served in the UAE and Saudi Arabia and made friends from Pakistani diaspora there. According to him, there are about 2000 Filipinos residing in Pakistan, some of them working in multinationals, IT sector, construction, hospitality industry or domestic help. Around 200 Filipinas are married to Pakistanis and live in Pakistan. Likewise, there is a matching number of Pakistanis living in the Philippines. Many Pakistanis are married to Filipinas.” The Filipina wives of Pakistani nationals, he says, receive a lifelong card (Pakistan Origin Card) that offers them almost all the rights of Pakistan citizens.

Another way to promote cultural exchange is to invite Filipinos to visit Pakistan. It has become a popular tourist destination for adventure seekers who want to climb its mountain peaks or to experience a glimpse of its ancient civilization.

Pakistan has tourist attractions including the Badshahi Mosque, the Wazir Khan Mosque, and the Sheesh Mahal in the Lahore Fort in Lahore City, the Shah Jahan Mosque in Thatta, along with the mountain ranges and valleys in the north

nCreating awareness on Bankruptcy laws

Industrial Cooperation under CPEC

CHINA-PAKISTAN Economic Corridor (CPEC) is a 2,700 km of economic corridor with high level infrastructure development linking Urumqi in Western China to Pakistan’s centers of Lahore, Islamabad, Karachi and ultimately the Gwadar port, through a network of roads, railway and other modes of communication and transportation. It is a driving force for economic growth and taking the fruits of CPEC to the lesser-developed regions of Pakistan. The aim is the transformation of trade corridors into Economic Corridors. For this purpose, during the 6th meeting of Joint Cooperation Committee (JCC) held in December 2016, Board of Investment (BoI) was designated as lead agency on Industrial Cooperation (IC) Chairman BoI was designated as the convener of the Working Group on IC from Pakistan’s side. An MoU POLICY PARAMETERS

neutralize the negative effects of the pandemic on SMEs. Introducing such initiatives like online company registration, online payment of taxes, and e-registry etc. will definitely be a catalyst in this direction.

The government of Pakistan is cognizant of various challenges to its economy and is undertaking every possible effort to overcome these challenges within the shortest possible time.

Some of the attractive

incentive packages provided by the Government are tabulated under:

Improvement in Ease of doing business

MUCH more reforms have been implemented and some are under implementation through 6th Reform Plan, These reforms will further improwwe business facilitation and overall EoDB ranking. some of them are as under: nOnline Processing of Complaints

by NEPRA nBank Account Opening Facility through SECP e-service nNational One window for Trading Across Border nEstablishing Notice Based Collateral registry nSimplifying tax administration & regulations nAutomating Payment of Stamp duties nCommercial courts and automation in Karachi nAmending reg ulations for Minority investors

MANUFACTURING SECTOR

that are popular with climbers. The British Backpacker Society (BBS) declared Pakistan as the world’s third best potential adventure destination for 2020. Amb. Dr. Imtiaz A,. Kazi adds that online visa application is open to 130 countries including the Philippines and that on average, one can enjoy as tourist in Pakistan and needs just US$150 for a 30-day stay in my country.

He adds that fostering closer relations will be advantageous for both countries, describing the relationship as a “brotherhood”.

“There are so many things we can do together, we have so many commonalities, as both countries went through colonial rule, both struggled for independence and we have preserved our national security and territorial integrity.

We have faced challenges both regional and internal.”

Amb. Kazi also says that both are populous nations of Asia -- The Philippines has 110 million people while Pakistan has 220 million people and have our prowess and capabilities. “We are both hardworking and enterprising nations, with our engineers and scientists, and workers in the Gulf countries.” Religion is also a strength, he says. “Both are religious countries, and with Islam and Christianity, we share so many common values, which are humane and universal. Both are family-oriented nations.’

Looking ahead, Amb. Kazi says we are looking forward to strengthen what we have achieved so far and augment these relations in the days ahead. “Bilateral trade has lot of potential that needs to be availed.

We are looking forward, that with better prospects of economic uplift in a post COVID-19 scenario and greater per capita income in both countries, scope of tourism would expand and we hope for more citizens from each other’s countries to visit our beautiful countries, know each other more closely and expand fraternal ties through these peopleto-people contacts.

on Industrial Cooperation was signed on 20-12-2018. As result of the meeting, Nine (09) sites were noted as prioritized SEZs. 1. Rashakai SEZ: Nowshera Khyber Pakhtunkhwa 2. Dhabeji SEZ: Thatta, Sindh 3. Allama Iqbal SEZ: Faisalabad, Punjab 4. Boston Special Economic Zone: Quetta, Balochistan 5. Moqpondass SEZ: Gilgit, Gilgit-Baltistan 6. ICT SEZ: Islamabad City Territory 7. Jinnah Industrial Park on Pakistan Steel land : Port Qasim, Karachi 8. Mirpur Industrial Zone: Azad Jummu & Kashmir 9. Mohmand Marble City: Mohmand Agency, KP.

After implementation of the early harvest projects, the ground is set to generate positive socioeconomic impacts of CPEC by enhancing industrial collaboration. This will help create efficient and competitive industrial clusters to attract investment and to diversify exports.

NON -MANUFACTURING SECTORS Agriculture

Infrastructure Services including IT & & Social Telecom Services

Govt. Permission Not required except 4 Not required except specific licenses from concerned Remittance of capital, specified industries * agencies. profits, dividends, etc.

Allowed Allowed Allowed Allowed Upper Limit of foreign 100% equity allowed

100%

100%

100%

Customs duty on import 5% of PME

0%

5%

0-5%

Tax relief (IDA, % of PME cost)

25%

25%

25%

25%

Royalty & Technical Fee

No restriction for Allowed as per guidelines - Initial lump-sum upto $100,000 payment of royalty & Max Rate 5% of net sales - Initial period 5 years technical fee.

IN THE NAME OF ALLAH THE GRACIOUS THE MERCIFUL

2WORLD TRADERS INC.

MANUFACTURER IMPORTER, AND EXPORTER OF PHARMACEUTICAL AND VACCINES

2World Traders Inc. President Abudulrazzaq Siddiq greets Philippine President Rodrigo Duterte

MESSAGE TO THE PRIME MINISTER BISMILLAH! (IN THE NAME OF ALLAH!) SALAM ALAIKUM! (PEACE UPON ALL OF YOU!) ON THE DAY OF THE RESOLUTION OF PAKISTAN, WE GREATLY APPRECIATE THE GREAT EFFORT OF PRIME MINISTER IMRAN KHAN TO UNITE ALL MUSLIM COUNTRIES AND HAD INITIATED KL SUMMIT. WE ENCOURAGE HIM TO UNITE ALL MUSLIM COUNTRIES TO FORM ONE COUNTRY USI (UNITED STATES OF ISLAM) BASED ON THE LAW OF THE BOOK OF GOD ALMIGHTY ALLAH, THE QURAN, AND ACCORDING TO THE WAY OF THE LAST PROPHET MUHAMMAD. (PEACE AND BLESSINGS OF ALLAH UPON HIM!) OUR GOAL IS TO SERVE OUR CREATOR AND FOLLOW HIS COMMANDMENTS, ONE OF WHICH IS TO BE GOOD TO ALL OF HIS CREATIONS, ESPECIALLY TO OUR HUMAN BRETHREN. THAT IS WHY WE ARE MANUFACTURING AND IMPORTING THE BEST QUALITY MEDICINES AND VACCINES WHILE DISTRIBUTING THEM AT VERY LOW PRICES TO SAVE THE LIVES OF MILLIONS IN THE PHILIPPINES AND ALL AROUND THE WORLD. ONE OF THE COMMANDS OF GOD ALMIGHTY “ALLAH” IN THE QURAN IS TO SAVE THE LIVES OF HUMAN BEINGS. GOD ALMIGHTY “ALLAH,” SAID IN QURAN 5:32: “SAVING THE LIFE OF A HUMAN IS LIKE SAVING THE WHOLE MANKIND.” SO OUR MISSION IS TO SAVE THEIR LIVES. CONGRATULATIONS TO THE PEOPLE OF PAKISTAN ON ITS 81ST NATIONAL DAY!

Helping humankind with quality medicines 2 WORLD TRADERS INC. was established in 1998, conducting the nature of its business in manufacturing, importing, and exporting pharmaceutical as well as biological products in the Philippines, particularly vaccines.

The company now has branches in Turkey, Malaysia and Pakistan. Its goal is to please God Almighty “Allah,” the Creator of the Universe, by helping humankind with an affordable, good, and competitive-quality brand of medicines and vaccines.

Our company’s genuine desire is to see a drug-free Philippines. Thus, we strongly support President Duterte’s war against illegal drugs, as they can paralyze the current generation, as well as the succeeding ones.

We encourage everyone to support the president’s campaign in ridding this country from illegal substances. Dealers and sellers are committing a crime against an entire nation, and they deserve to be penalized to the full extent of the law.

2 WORLD TRADERS INC MAILING ADDRESS | 285 EL GRANDE AVE. BF HOMES PARAÑAQUE CITY PHILIPPINES | CONTACT INFORMATION TEL: (+63-2) 8820 3394, (+63-2) 7576 1679 | FAX: (+63-2) 8850 4172 TELEFAX | EMAIL: 2WORLDTRADERS@GMAIL.COM

A BusinessMirror Special Feature

PAKISTAN 81st National Day

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Tuesday, March 23, 2021 C4

Tourism- Beautiful destinations of Pakistan

T

HE Covid-19 pandemic has hit the world and particularly the tourism industry the worst. The world was brought to standstill, resulting shutdown of the entire cities. Even to this day the world is seeing most sever travel restrictions imposed across the globe, seriously hampering global travel.

According to the World Travel and Tourism Council (WTTC), this pandemic can cut 75 million jobs and cause a $2.1 trillion loss in revenues worldwide. Asia is expected to be the worst hit, with more than 40m job losses. The tourism industry in 2018 had accounted for 10.4 per cent of the global GDP, which equals to $8.8tr.

In Pakistan, this sector had just started to show potential before Covid-19 hit. From 2014 to 2019, Pakistan saw a sharp increase in the number of both local and international tourists. As per a Gallup report in 2019, the tourist footfall for cultural and museum sites increased more than 300pc in last three years. The foreign tourist traffic rose more than 130pc for museums and 100pc for cultural sites. The numbers are promising and further present positive picture with Pakistan liberalizing visa regime and implementing policies to promote tourism. Pakistan has a along online visa system and all Visas are granted online. With liberal visa policies and massive rollout vaccination programs Pakistan tourism will get the impetus in form of tourist visiting Pakistan. Greater presence of tourism related material has increased an enhanced digital imprint on social media with Pakistan Tourism Development Cooperation (PTDC) pioneering in this field.

For Philippine tourist its essential to inform that Pakistan is a land of myriad features and geographical feautures. In its South it has long stretches of pristine beaches along the Arabian Sea coast in the South to the majestic mountain peaks in the north, from the arid plateaus of Balochistan to Cholistan and Thar deserts, from the life-giving agricultural fields to the verdant valleys and meadows, the portrait of the Land of the Indus.

Pakistan has many historical monuments and landmarks from the Mughal era and has archeological marvel in form of grandeur building built under colonial era. Some examples of some monuments are Lahore Fort, Badshahi Mosque, Rohtas Fort, Derawar Fort, Faisal Mosque, and Pakistan Monument.

It has one of the largest settlements of ancient Indus civilizations i.e. Mohenjo Daro built around 2500 BCE, being the largert settlements of the ancient Indus Valley Civilization, and one of the world's earliest major cities, contemporaneous with the civilizations

of ancient Egypt, Mesopotamia, Minoan Crete, and Norte Chico.

Along with the scenic beaches like Gadani it has the highest mountain vistas with three great mountain ranges – Karakorams, Himalayas and Hindu Kush –in the north home to the 2nd largest peak of the world K2 Godwin Austin. Yearly it attracts mountaineers from across the world who want to climb the vicious peaks.

Pakistan is also a heaven for religious devotees and pilgrims. For the Sikh Community the Kartarpur Corridor was opened last year. It is a 4.1 kilometer (2.5 mile) overland passage that links the Dera Baba Nana shrine in northwest India's Gurdaspur with the Gurdwara Darbar Sahib in Kartarpur, Pakistan.Sikh pilgrims from all over the world visit their holy sites.

Buddhism in Pakistan took root some 2,300 years ago under the Mauryan king Ashoka. Pakistan is an attraction to nearly 500 million Buddhist. Pakistan has developed Buddhist trails, which will begin from Swabi, go towards Swat, and culminate at Taxila – the Kingdom of the Gandhara Civilization. It is spread across Punjab, KPK and AJ&K and GB that include Takht-Bhai, Taxila and Rawalpindi as they are home to Budhist relics.

Pakistan also houses old Hindu temples in various cities, a 1000-year-old temple in Sialkot and Sukkur and Karachi. Pakistan also has the most beautiful churches whose history goes back to the 16th century when Christian missions began arriving in the sub-continent after the advent of the East India Company. On existence of Pakistan following the British rule, a number of churches established for the British Army officers and their families to congregate became a part of the country.In 1970, the Church of Pakistan was formed, uniting Anglican, Methodist, Lutheran and Presbyterian churches.A majority of these churches were constructed during the British era.

Traditional arts and crafts are also seeing unprecedented revival. Miniature art, woodwork, lacquer art , Blue pottery , truck art and textiles, marble work, for instance, have emerged as important expression of creativity. Proud heirs of a glorious culture who want to share it with the world carry the tradition forward.

Thanks to the digital revolution, greator presence of Pakistan digitally, the Pakistan’s tourist attraction has been appreciated by the world. Top US travel magazine Conde Nast ranked Pakistan first in travel destinations for 2020.

China-Pakistan Economic Corridor (CPEC)

C

HINA-PAKISTAN Economic Corridor (CPEC), a flagship project of China’s Belt and Road Initiative (BRI), is a regional connectivity initiative. CPEC is an embodiment of the friendship, trust and understanding between Pakistan and China that have stood the test of time since 1951.

The project is expected to positively impact the lives of millions not only in China and Pakistan but also in South, Central and West Asia by providing regional connectivity. For Pakistan, CPEC is not merely an economic venture. It is an initiative to build peaceful and interconnected region with a vision of shared prosperity for all countries of the region.

The major features of the CPEC are a deep-water port at Gawadar in southern Pakistan, energy and infrastructure development projects and industrial zones. China Pakistan Economic Corridor is journey towards economic regionalization in the globalized world. It founded peace, development, and win-win

model for all of them.

The Belt and Road Initiative (BRI), of which CPEC is a part of is expected to be completed in 2030 connecting Africa, the Middle East, Central Asia and South Asian region. It will spur enormous economic activity and people-to-people contacts across regions.

China Pakistan Economic Corridor is hopes of better region of the future with peace, development and growth of economy.

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