BusinessMirror March 24, 2021

DOF FLAGS PEZA FIRMS’ ILLICIT TOBACCO TRADE w

n

Wednesday, March 24, 2021 Vol. 16 No. 164

P25.00 nationwide | 2 sections 18 pages |

Pandemic cuts import volume for petroleum

By Lenie Lectura @llectura

T

YOU COULD CALL IT THE BUBBLE FROM THE AIR. As the country breached the 8,000 mark for fresh daily cases of Covid-19, NCR and nearby Bulacan, Cavite, Laguna and Rizal began a 2-week stricter form of general community quarantine—with authorities refusing to call it a lockdown even as mobility restrictions were imposed. STEPHANIE TUMAMPOS

C

By Bernadette D. Nicolas

@BNicolasBM

IGARETTE manufacturers planning to set up shop in the country’s special economic zones (SEZs) will soon be required by the government to register with the Bureau of Internal Revenue (BIR) before being allowed to operate, according to the Department of Finance (DOF).

T his, af ter Finance Secretar y Carlos G. Doming uez III e x pre s s e d conce r n o ve r t he “alarming” alleged involvement in the illicit tobacco trade of certain locators registered with the Philippine Economic Zone Author it y (Peza).

Continued on A2

No moves by BSP seen amid lockdowns

T

HE Bangko Sentral ng Pilipinas (BSP) is not expected to move aggressively again along with the rising cases and stricter lockdowns early this year, as it is not afforded last year’s policy space due to rising inflation.

Economists forecast a quiet BSP in its upcoming meeting this week, with all policy levers seen to remain unchanged due to the rising prices of goods in the economy.

Moody’s Analytics recently said the Philippine Central Bank is expected to keep its key overnight borrowing rate unchanged at 2 percent at its March 25 meeting.

“The near-term prospects remain worrisome for the Philippines as it copes with an intensifying virus outbreak that shows no signs of abating. Although the country’s fiscal spending has been more conservative relative to its Southeast

PESO EXCHANGE RATES n US 48.5840

Asian counterparts, the scope to deliver through a more expansionary monetary stance is relatively limited at this stage,” the think tank said.

“We expect that the Central Bank will opt to preserve ammunition for now and stall a rate cut until the next quarter if the domestic situation deteriorates,” it added.

See “BSP,” A2

HE cou nt r y recorded a 45.7-percent drop in crude oil import volumes and 8.3 percent in the volume of refined petroleum products last year mainly due to depressed global prices and the negative impact of the pandemic, data from the Department of Energ y (DOE) showed.

The volume of crude oil brought into the country in 2020 was recorded at 33 billion liters from 61 billion liters in 2019. Refined petroleum products also fell down from 103 billion liters from 112 billion liters.

T he tot a l i mpor t s volu me for both crude and finished petroleum products last year hit 136.050 billion liters, down 21.4 percent from 2019. In terms of value, the country’s oil import bill plunged 46 percent to $6.37 billion during the 12 months from $11.9 billion.

Meanwhile, total petroleum exported last year stood at 10.4 billion liters from 12.7 billion liters in 2019. Of which, crude oil volume stood at 2.5 billion liters while refined petroleum products reached 8 billion liters. Total petroleum export earnings were recorded at $439 million in 2020, down by 42.5 percent from $764 million in 2019.

In total, the country’s net oil import volume and bill last year stood at 126 billion liters and $6 billion, respectively. In 2019, the figures were 160.5 billion liters and $11 billion.

The net oil import bill is the difference between oil imports and exports.

DOE- Oil Industr y Management Bu reau (OI MB) D i rector Rino Abad said the demand dropped significantly due to the lockdown. He said there was limited movement brought about by the community quarantine measures.

Moreover, the refineries were shut down. “Demand was really low due to the pandemic quarantine which limited the consumption,” he said in a text message.

Petron Corporation’s Bataan refinery temporarily stopped operations in May last year for maintenance activities.

Pilipinas Shell Petroleum Corp. followed suit, albeit permanently, and transformed the facility into a full import terminal.

Both recorded low refining margins caused by the pandemic.

n JAPAN 0.4464 n UK 67.3471 n HK 6.2562 n CHINA 7.4648 n SINGAPORE 36.2594 n AUSTRALIA 37.6234 n EU 57.9947 n SAUDI ARABIA 12.9554

Source: BSP (March 23, 2021)

News

BusinessMirror

A2 Wednesday, March 24, 2021

DOF FLAGS PEZA FIRMS’ ILLICIT TOBACCO TRADE Continued from A1

In his letter to the Department of Trade and Industry (DTI), Dominguez informed the trade chief the BIR is now drafting the revised rules covering the operations of cigarette makers inside the SEZs. Lopez, as trade secretary, supervises the DTI-attached Peza.

“The fact that the alleged illicit activities occurred inside the Peza Ecozone is alarming. Not only did Peza provide tax breaks to the alleged perpetrators, the government has lost billions of pesos in income taxes, excise taxes, VAT [value-added tax] and customs duties when these illicit goods entered the local market,” said Dominguez in his letter to Lopez.

Dominguez attributed the alleged illicit activities of certain Peza-registered locators in SEZs to “lackadaisical” monitoring and weak enforcement of laws.

At present, Peza registration requirements do not mandate compliance and submission of secondary licenses or authorization from agencies, like the BIR, for locatorapplicants that manufacture regulated products such as cigarettes, medicines, oil and alcohol.

As a result of this “loophole,” the DOF said two enterprises which are both Peza-registered locators were able to allegedly manufacture unregistered cigarettes inside an SEZ and supply these illicitly to the domestic market.

The BIR Strike Team seized these unregistered cigarettes and several cigarette-making machines from the companies’ warehouses and charge them with violating the Tax Code and incurring deficiency excise taxes.

“It appears that these manufacturers took advantage of the lackadaisical monitoring inside the Zone to perpetrate their schemes under the cover of the laws, rules, and policies enacted to favor them,” Dominguez said.

P30-B loss

THE BIR raid on the warehouses of the Peza-registered locators was the subject of a recent hearing conducted by the House Ways and Means Committee chaired by Albay Representative Joey Salceda.

Salceda earlier said the government loses at least P30 billion in tax revenues yearly due to illicit cigarette trade.

The lawmaker said it was also found that ecozones are used as

Churches…

Continued from A10

“That will be contrary to the decision of the IATF [resolution] and we ask Bishop Pabillo not to encourage, the disregard of IATF rules,” Roque said.

Police powers

PABILLO slammed the IATF for passing its latest issuance, allegedly without stakeholder consultation and for violating the principle of the separation of the church and state.

Roque belied the claim that the new resolution is covered by the principle of separation of church and state.

“What is covered [by the principle] is the freedom to believe and the freedom not to endorse a religion. But in the exercise of police powers, we can order the churches

avenues for illicit trade due to loose enforcement rules.

Dominguez said he agreed with Salceda’s proposal during the hearing that Peza should also “reinvigorate its police force to patrol the zones against illicit activities” so that the BIR, Bureau of Customs (BOC) and other regulatory agencies can easily avail of its services to enforce laws and rules against violators inside the economic zones.

“Moreover, keeping a close watch on those engaged in manufacturing regulated goods from the moment the raw materials enter the Zones up to the removal from warehouses is consistent with best practices employed to monitor excisable products and goods,” Dominguez added in his letter.

Tax stamps

THE finance chief also informed Lopez that BIR is also reviewing Revenue Regulations (RR) No. 9-2015 after Salceda called on the revenue agency to “uniformly affix stamps on all cigarette packs whether for export or local consumption.”

Under RR 9-2015, cigarettes manufactured for exports are required to strictly comply with all existing BIR rules and regulations relating to the registration of brands, manufacture, import, utilization and withdrawal of raw materials; work in process and finished products; labels and posting of export bonds, among others.

“Meanwhile, the interagency meeting [among DOF, BIR, BOC and Peza] resolved to require secondary licenses, i.e., BIR registration to manufacture cigarettes secured from the Excise Tax Division, prior to issuance of the locator’s Certificate of Registration [COR] by the Peza,” Dominguez said.

“We expect the completion of the revised rules by the BIR soon after the Peza and other stakeholders have provided comments thereon,” he added in his letter.

Dominguez told Lopez that the “collaboration among DTI, DOF and the agencies mentioned, is therefore, necessary in order to address the illicit trade both in and out of the Zones.”

He added, “We strongly believe that the strong commitment towards this endeavor will further improve investor confidence in our country.” In 2020, Customs seized P10.629 billion worth of smuggled goods, with cigarettes accounting for more than half or P5.77 billion of its total haul. closed. We hope it will not come to that,” Roque said.

Aside from Pabillo, Catholic Bishops Conference of the Philippines (CBCP) Vice President Pablo Virgilio David also criticized IATF Resolution 104.

He noted how the issuance banned religious gatherings, particularly the Holy Week celebration, but still allowed gym, spas and other personal care establishments.

But on Tuesday, Roque said the Metro Manila mayors have jointly decided to also temporarily close down the gyms and spas for the duration of the “travel bubble.”

The “travel bubble” is part of the government’s measures to slowdown the increase in new novel coronavirus disease (Covid-19) cases by restricting movement to and from NCR plus, but with minimal impact on the economy.

Samuel P. Medenilla

www.businessmirror.com.ph

SC eyes rule tweaks on buy-bust, other moves vs killings of lawyers

T

By Joel R. San Juan

@jrsanjuan1573

HE Supreme Court on Tuesday acceded to mounting calls from members of the legal profession for it to come up with measures to protect lawyers and judges from threats, harassment and killings.

In a statement released to the public by the members of the court en banc, the magistrates led by retiring Chief Justice Diosdado Peralta expressed “serious and urgent concerns” over the spate of lawyer killings in the country.

The SC issued the statement after receiving letters from different lawyer groups such as the Integrated Bar of the Philippines (IBP), the University of the Philippines (UP) College of Law, the Free Legal Assistance Group (FLAG) and lawyers and parties in the Anti-Terrorism Act of 2020 (ATA), all seeking action from the SC on the issues.

The SC announced several measures in response to the calls, which include a deliberation on the possibility of including in its Rules of Procedure a provision regulating the conduct of buy-bust operations in the enforcement of the Comprehensive Dangerous Drugs Act. The Court en banc also agreed to

work on, deliberate, and promulgate rules on the use of body cameras for the service of search and arrest warrants to prevent speculations of extrajudicial killings.

Meanwhile, the SC said it has requested all lower courts, as well as the various law enforcement offices, to furnish it with relevant information to shed light on the number and context of each and every threat or killing of a lawyer or judge within the past 10 years.

It also urged the public—including public interest organizations, lawyers and judges’ groups—to provide the Court with vetted information on any incident of such threat or killing from the remainder of this month and the whole month of April.

The Court en banc also designated the Court’s Public Information Office to receive and collate the data and to provide the Court with a report prior to its de-

liberations en banc scheduled for the last week of April 2021.

The Court also directed the Office of the Court Administration (OCA) to coordinate with relevant law enforcement agencies and investigate the reports that Mandaluyong City Regional Trial Court (RTC) Judge Monique QuisumbingIgnacio has been red-tagged in a tarpaulin that was posted along Shaw Edsa.

The OCA will also conduct a survey among trial court and Shari’a court judges on the extent of threats they have received for the past 10 years, and assured they would provide security and counseling to them.

The SC said it would also refer the letters it received from various groups to the relevant trial courts, which would then order the parties to convert their letters to proper remedies such as writs of amparo and habeas corpus.

The Court added that it would coordinate through existing mechanisms with all concerned groups, whether belonging to civil society or law enforcement.

It is the first time the SC en banc come up with comprehensive measures intended to address redtagging,harassment and extrajudicial killing of lawyers as well as judges.

“We are too aware that everything the Court stands for must bend its arc toward ensuring that all its officers can fairly and equi-

tably dispense their duties within the legal system, unbridled by the constant fear that such exercise may exact the highest cost,” the SC en banc said in a statement signed by all the 15 members of the Court.

“In this light, the Court condemns in the strongest sense every instance where a lawyer is threatened or killed, and where a judge is threatened and unfairly labeled.

We do not and will not tolerate such acts that only perverse justice, defeat the rule of law, undermine the most basic of constitutional principle, and speculate on the worth of human lives,” the magistrates added.

T he FL AG earlier counted 89 lawyers either killed or gone missing from the term of the late President Ferdinand Marcos up to the term of President Duterte.

FLAG’s data showed the Duterte administration has the highest number of recorded killings and disappearances involving lawyers, prosecutors and judges with 67.

Earlier, around 900 independent lawyers and members of various law faculties have pressed the SC to take proactive measures that would protect judges, lawyers and members of the legal profession from threats and killings.

The UP College of Law through Dean Edgardo Carlo Vistan II also led its 157 faculty members and the other lawyers in seeking action from the SC.

SENATORS PROBE HUMAN TRAFFICKING IN SYRIA

S

ENATE probers dug deeper Tuesday into a reported “sexual trafficking” racket, zeroing in on cases of overseas Filipina workers lured to fake jobs in Syria, prompting options to forge reform agreements with countries hosting OFWs. This, as two witnesses—alias Belen and Miss Caro—related to members of the Senate Committees on Labor and on Women their experience as “sexual trafficking victims” after their employer paid to acquire them for P50,000.

“When we arrived...we were treated as prisoners and sold,” they told Senate probers led by Senators Joel Villanueva (Labor panel) and Risa Hontiveros (Women).

They recalled that upon arrival at Dubai airport, they were asked to transfer counters to avoid questions, on advice of their recruiter. Belen recalled

WB…

Continued from A10

The studies present the size and scale of each country’s plastics production and recycling industry, focusing on four key recyclable resins.

The researchers consulted with resin manufacturers, brand owners, converters, aggregators, and recyclers across the plastic value chain to compile and develop baseline data for each targeted resin. They also undertook analyses to quantify the untapped market potential for each resin and identified the pressures that contribute to material value loss in each country.

While the studies found that barri-

that Carol eventually left for Damascus and was told to go to a specified counter.

Under questioning by the Senate panel, Carol said she was airing an appeal for President Duterte to monitor immigration authorities assigned at the airport. “Sana bantayan niyo immigration para po makabawi kami [We hope you will watch immigration so we can get justice],” Carol pleaded.

The senators were informed that many Filipino workers in Syria were “similarly duped and kept as slaves and not allowed to go home.”

Under questioning by Senate probers, the witness said she was testifying to “bare the “racket” at the Bureau of Immigration “to stop sending Filipina OFWs to Syria,” adding that she “would not have gone to Syria if she knew that would happen.”

Another victim complained that she was forced by her employers and recruiters to have an abortion when she learned belatedly that she was pregnant.

For his part, Senator Villanueva stressed the importance of having agreements with countries that host overseas Filipino workers to prevent jobseekers from falling prey to human traffickers.

The Labor committee chairman said the bilateral agreements would allow the Philippine government to run after third-country recruiters who send Filipinos to perilous locations, like Syria where a total ban on deployment has been in place since 2011.

“Under the bilateral labor agreements, there would be sufficient protection for our countrymen against human trafficking syndicates that prey on the situation of our workers,” Villanueva said after the Senate panel

ers to plastic recycling are unique to each country, there are common actions that governments and industries could take to help Malaysia, the Philippines, and Thailand unlock additional material value.

The recommendations include: ■ Increase sorting efficiency of postconsumer collection of plastics.

■ Set recycled content targets across all major end-use applications.

■ Mandate “design for recycling” standards for plastics, especially for packaging.

■ Encourage an increase in recycling capacities (mechanical and chemical).

■ Implement industry-specific requirements to increase waste collection rates.

■ Restrict disposal of waste plastics in landfills and phase-out non-essential plastic items.

“These studies serve a critical need for country-specific data on how plastics are produced, used, and managed in Southeast Asia,” said Rana Karadsheh, Asia Pacific Regional Industry Director Manufacturing, Agribusiness and Services at the International Finance Corporation. “They clearly highlight the importance of managing plastic waste as a valuable resource, and not solely as a waste management problem.”

BSP…

hearing on trafficking involving Filipino women to Syria.

“In our labor committee hearings, it has been well-established that the rise of third-country recruitment poses a huge threat to our ongoing efforts against illegal recruitment and human trafficking,” Villanueva said, adding: “The crafting of bilateral agreements to strengthen coordination would be one step to solve this.”

Citing the plight of Filipinos in Syria who fell victim to human trafficking syndicates, the Senator said he was told the victims have since been rescued and in the custody of the Philippine Embassy in Damascus.

Still, the lawmaker lamented the situation of a Filipino worker currently languishing in jail unless she paid $5,000 to her employer to “buy out” her contract.

Butch Fernandez

Continued from A1

Fitch Solutions also forecasted BSP’s next move to be a hike in 2022.

“We forecast the BSP to hike 75 basis points in 2022, taking the key policy rate to 2.75 percent, which should calm fears of the economy overheating in late-2022,” Fitch Solutions said.

In a recent economic assessment, ING Bank economist Nicholas Mapa also said that now that the BSP has run out of ammunition to help lift the economy, local economic managers should step up and try a new strategy.

“Authorities have been attempting to ‘push start’ their way to revive the stalled Philippine economy, a tack that has helped the country save face with debt ratings agencies but ultimately still has the car sitting idle on the driveway.

The longer the economy remains in recession, the more vulnerable it will be to the scarring effects from the pandemic with business closures mounting and unemployment at elevated levels,” Mapa said.

“With monetary policy hitting the inf lation wall early in 2021, the only move the ‘whole of government approach’ may have left is to go for the ‘ jump start,’ a move that would be viewed as ‘costly’ but one that may be more effective than what has currently been rolled out,” he added.

Mapa has been arguing for more fiscal spending to help the economy, saying the government has been “deploying modest fiscal spending” in the hopes that the vehicle would start itself and that they are “shelling out the bare minimum to preserve fiscal metrics.” The BSP is expected to hold their next monetary policy meeting on March 25. Bianca Cuaresma

www.businessmirror.com.ph

The Nation BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, March 24, 2021 A3

US backs Philippines in standoff over reef T

HE United States said Tuesday it’s backing the Philippines in a new standoff with Beijing in the disputed South China Sea, where Manila has asked a Chinese fishing flotilla to leave a reef. China ignored the call, insisting it owns the offshore territory.

The US Embassy, in a news statement, said it shared the concerns of the Philippines and accused China of using “maritime militia to intimidate, provoke, and threaten other nations, which undermines peace and security in the region.”

“We stand with the Philippines, our oldest treaty ally in Asia,” the US Embassy in Manila said.

The Department of Foreign Affairs has formally lodged a protest and demanded that China “promptly withdraw its fishing vessels and maritime assets in the vicinity and

adjacent waters of relevant features in the Kalayaan Group of Islands in the West Philippine Sea, and to direct its fishing vessels to desist from environmentally destructive activities.”

Julian Felipe Reef in the Kalayaan Island Group, the DFA statement asserted, lies in the Philippines’ Exclusive Economic Zone.

“We reiterate that the continued deployment, lingering presence and activities of Chinese vessels in Philippine maritime zones blatantly infringe upon Philippine sovereignty, sovereign rights, and jurisdiction,” the statement added.

“China’s continuing infringements and tolerance thereof, notwithstanding the persistent and resolute protests of the government of the Republic of the Philippines, are contrary to China’s commitments under international law and

the Asean-China Declaration on the Conduct of Parties in the South China Sea,” the statement read.

Further, the Philippines calls on China to faithfully honor its obligations as a State Party to the 1982 United Nations Convention on the Law of the Sea and to respect and abide by the final and binding 12 July 2016 Award in the South China Sea Arbitration.

Chinese boats have been mooring in the Julian Felipe Reef (Whitsun Reef) for many months in ever increasing numbers, regardless of the weather, a statement sent by Embassy Spokesman Heather Fabricant stated.

“We note Secretary of Defense [Delfin] Lorenzana’s call for the PRC [People’s Republic of China] to recall the boats and Secretary of Foreign Affairs [Teodoro] Locsin Jr.’s filing of

a diplomatic protest,” the statement added. “We share the concern of our Philippine allies.”

On Monday, Chinese Ambassador Huang Xilian denied reports that boats are massing in Julian Felipe reef.

He said these are Chinese fishing vessels, not Chinese maritime militia, “seeking shelter due to rough seas” at Niu’u eJao, which is part of China’s Nansha Qundao located in the contested areas of the Spratlys (West Philippine Sea).

Beijing denied the vessels were maritime militias. “Any speculation in such helps nothing but causes unnecessary irritation,” the Chinese Embassy said in a news statement issued on Monday. “It is hoped that the situation could be handled in an objective and rational manner.”

The Armed Forces of the Philippines said it would confer with the

body in charge of the West Philippine Sea on its course of action on the swarming of Chinese maritime militias at the reef.

“Our mandate is to secure our territory. So we really oppose any act of incursions into our territorial waters, including our exclusive economic zone.

But on the other hand, the National Task Force for West Philippine Sea takes into consideration other means,” said Armed Forces Chief of Staff Lt. Gen. Cirilito Sobejana on Tuesday.

“So, jointly, we will assess and we will decide what is the best course of action that could be done in the area,” the top military official added.

The task force is headed by National Security Adviser Hermogenes Esperon Jr., who also disclosed about the sightings of eight Chinese fishing vessels in Pagasa Island located near the Julian Felipe Reef where

Chinese maritime militia vessels have illegally berthed since March 7.

Sobejana said the maritime patrol that the military conducted on Monday at the reef documented at least 183 militia vessels, although an earlier government report indicated at least 220 ships.

The patrol, carried out by the Western Command, was ordered by Sobejana to give the military a complete and validated report on the illegal presence of the ships at the reef.

The chief of staff said the joint assessment with the task force will “dictate” the military’s “next course of action.”

China, the Philippines, Vietnam, Malaysia, Taiwan and Brunei have been locked in a tense territorial standoff over the resource-rich and busy waterway for decades.

AP, Recto Mercene and Rene Acosta

Palace seeks probe into inoculation of Tacloban City Mayor Romualdez Authorities apprehend 3 illegal

By Samuel P. Medenilla @sam_medenilla

T

ACLOBAN City Mayor Alfred Romualdez is now facing investigation for alleged violation of government inoculation guidelines. This, after Romualdez uploaded on his official Facebook page several photos and a video of him getting inoculated with CoronaVac vaccine manufactured by China’s Sinovac Biotech intended for healthcare workers (HCW).

In an online news briefing on Tuesday, Presidential spokesman Harry Roque said he is concerned with the report since it could affect

the government’s next shipment of vaccines from the Vaccines Global Access (Covax) facility.

The Covax facility started sending Covid-19 vaccine made by British pharmaceutical firm, AstraZeneca, to the country this month on the condition that said doses should first be used for HCWs. “We regret this incident but I will refer the matter to the DILG [Department of the Interior and Local Government] for proper action because this needs to be investigated,” Roque said.

Roque earlier said the National Immunization Technical Advisory Group (NITAG) is considering includ-

ing governors, mayors, and barangay chairmen in the priority list of people to be vaccinated by the government.

But as of Tuesday, the Palace official maintained the government position to first vaccinate 1.7 million HCWs before it proceeds with other sectors.

Romualdez, a Covid-19 survivor, announced in his Facebook post that the first CoronaVac vaccine was administered to him by a nurse from the Department of Health who is deployed at the City Health Office.

Based on the photos and the video uploaded on his Facebook account, Romualdez is getting inoculated without face mask and face shield.

Under the government’s na-

tional vaccination plan, health-care frontliners top the priority list of individuals who must receive the first Covid-19 vaccine jabs.

On Monday, Roque announced that local officials have been reclassified as “essential workers” and are now fourth in line to receive the Covid-19 vaccines.

Roque said officials of local government units are now part of the “A4” priority with other frontline personnel in essential sectors, including uniformed personnel.

To date, there are 1,634 provincial governors and city and municipal mayors and 42,046 village chairpersons nationwide. With PNA

Zambales toughens control measures as Covid-19 cases spiral

By Henry Empeño Correspondent

I

BA, Zambales—The Zambales provincial government ordered tougher guidelines in the entry and movement of people in the province following double-digit daily records of confirmed coronavirus disease (Covid-19) cases here since the second week of March.

On Monday, Governor Hermogenes Ebdane Jr. issued Executive Order 7, which imposed longer curfew hours, required travelers to register prior to entry in the province, and authorized random testing among vulnerable sectors.

Ebdane, who also announced on Monday that he has tested positive for the Covid-19 virus, said that relaxation of travel restrictions and careless behavior by people moving about the province resulted in a surge in infections.

According to the Zambales Provincial Health Office (PHO), daily new Covid-19 cases increased from zero on March 1 and singledigit numbers in the first two weeks of said month to record number of cases that brought the provincial hospital to critical admission level.

PHO data showed 20 new cases on March 17, 12 on March 18, 21 on March 19, 25 on March 20, 11 on March 21, and 21 on March 22.

The active cases were concentrated in the towns of

GOV. Hermogenes Ebdane Jr. (left) with Vice Gov. Jay Khonghun in this file photo taken on January 27

Botolan with 38; Palauig, 21; Iba, 15; Subic, 13; San Antonio, 12; and Castillejos, 10.

Under the new executive order, Ebdane adjusted the province-wide curfew from the previous 10:00 p.m. to 5:00 a.m. to the current 8:00 p.m. to 4:00 a.m. Curfew for minors below 15 years old is longer from 7:00 p.m. until 5:00 a.m.

Ebdane said that those who have legitimate and essential activity may be exempt from the curfew provided they show proof of such legitimate or essential activity.

Meanwhile, Ebdane also ordered business establishments,

including restaurants, convenience stores and similar shops in hotels and resorts, to operate until 8:00 p.m. only.

He also banned the sale or distribution of alcoholic or intoxicating beverages during curfew hours and warned that violators may suffer closure, suspension, or revocation of permit or license.

Similarly, eateries and restaurant were allowed to dispense alcoholic beverages in their premise until 7:00 p.m. only, with violators facing applicable criminal charges.

Ebdane also required the use of Safe, Swift, and Smart Passage (S-PaSS) Travel Management System developed by the Department of Science and Technology in Region 6. He said this will be the onestop shop application for travelers entering Zambales.

The use of the S-PaSS applies to all locally stranded individuals (LSIs), returning overseas Filipinos (ROFs), emergency travelers (ETs), and other persons entering the province during the pandemic.

Ebdane’s new order also limited social gatherings, and non-essential assemblies to just 10 attendees, regardless of the size or seating capacity of venue, and required official government assemblies to be coordinated with local government units.

Meanwhile, it authorized the PHO to conduct random Covid-19 testing among susceptible population sectors, and on employees of private establishments and offices at the expense of the management; and for LGUs to implement zoning containment strategy whenever necessary to limit the spread of virus.

Ebdane also said that any private establishment or office that will have a number of Covid-19 cases shall be locked down to undergo cleaning and disinfection to be supervised by PHO or municipal health units.

fishing vessels in Manila Bay

T

HREE fishing vessels allegedly engaged in illegal fishing activities were apprehended during a joint seaborne operation by the Bureau of Fisheries and Aquatic Resources (BFAR) CentralOffice-FisheriesProtectionandLawEnforcement Group (FPLEG) and the Philippine Coast Guard (PCG) in Manila Bay on Wednesday, March 17, 2021.

A news statement issued by BFAR said the operators and crew of fishing vessels FBca JAMZYRIC, FBca JOSWYNE BROOKES and FBca 5 BROTHERS, which were allegedly caught using trawl fishing gear inside municipal waters, allegedly violated Section 86 (Unauthorized Fishing) and Section 95 (Use of Active Gears in Municipal Waters, Bays, and Other Fishery Management Areas) of the Republic Act (RA) 8550, as amended by RA 10654. The fishing vessels were then escorted to El Varadero, Sangley Point, Cavite City for proper documentation and filing of administrative charges.

“Our efforts to prevent and put a stop to illegal, unreported, and unregulated fishing [IUUF] in Philippine waters remain as one of our top priorities along with securing safe and affordable fish commodities for Filipinos and providing assistance to our fisherfolk especially during these challenging times,” Department of AgricultureBFAR Director Eduardo Gongona said.

Upon inventory of catch, around 150 kilograms of hairtail (Trichiurus lepturus) with an estimated value of P5,000, 35 kg of slipmouth (Leiognathus spp.) with an estimated value of P4,000 and 35 kg of lizardfish (Saurida spp.) were found on board.

DA-BFAR’s fishery law enforcement teams continue to patrol and monitor not only Manila Bay but many of the country’s fishing grounds against IUU fishing. DA-BFAR urges the public to be watchful and report any illegal fishing activities to the nearest BFAR Regional Office or local government unit.

Avail of Tesda’s free contact tracing course, Lapeña reminds LGU officials

By Claudeth Mocon-Ciriaco Correspondent

A

S the country strengthens its Covid-19 response more than a year since the onset of the pandemic, the Technical Education and Skills Development Authority (Tesda) urged anew local government units (LGUs) to avail the free contact tracing training program (CTTP) being offered by the agency.

Tesda Secretary Isidro Lapeña said that contact tracing is one of the tools that may lower the country’s Covid infection rate.

“It is through this program that we can produce more graduates for the LGUs to utilize as contact tracers who will work to prevent the spread of coronavirus in their respective barangays,” Lapeña said.

It can be recalled that at the onset of the pandemic last year, Lapeña immediately ordered the registration of more health-related programs and tasked the agency’s Qualifications and Standards Office to develop competency standards on contact tracing.

He, likewise, directed the Tesda Technology Institutions (TTIs) nationwide to register the program and partner with barangay health centers, LGUs, Philippine Red Cross

(PRC), or Department of Health (DOH) facilities in their areas.

With this, Tesda, in September last year, has started offering free contact tracing training program to support the country’s fight against the spread of the new coronavirus.

From September last year up to March this year, based on raw data gathered from the published reports of the agency’s regional and provincial offices, at least 332 Tesda scholars have completed their training on Contact Tracing Level II. Earlier, Lapeña expressed optimism that this initiative will benefit the community and the LGUs particularly in the barangay level.

Presidential spokesman Secretary Harry Roque Jr. had said that contact tracing has been the weakest point of the country’s pandemic response.

Contact tracing czar and Baguio City Mayor Benjamin Magalong had said that the country needs a 1:37 patient to close contacts ratio in order to cut the transmission of the disease.

Meanwhile, the training on contact tracing, which was developed with the help of the Health Human Resources Development Bureau of the DOH and health industry experts, runs for 15 days under blended learning modality.

Demand for natural, environment-friendly consumer goods on the rise, survey shows

By Cai U. Ordinario @caiordinario

T

HE demand for naturallysourced and environmentfriendly products is on the rise in Southeast Asia, including the Philippines, according to the latest survey conducted by Nielsen.

Nielsen, in a news statement, said naturally-sourced products have gained 72 percent acceptability rating from regional in the region for

the last three years.

The data also showed 77 percent of respondents claimed that sustainability has become an essential criterion in their choice.

“More and more consumers are pursuing a healthy and environmentally-friendly lifestyle through the products they choose to purchase and use. Manufacturers need to address these rising consumer needs in order to find a new driver for growth,” Jameel Kassamali, NielsenIQ BASES

Leader for Southeast Asia, said.

The data showed 85 percent of respondents would like to see more “naturally-sourced” food products or cooking essentials such as snacks, rice, oil, and chocolates, while 76 percent in beauty and personal care products.

The survey also showed 75 percent of respondents would like more naturally-sourced nutritional products such as food supplements, vitamins and milk formula, while 90 percent expects companies to take

actions to protect the environment.

“Our recent global research reveals that 81 percent of global consumers will continue to restructure their spend in 2021.

But at the same time, 71 percent are willing to pay more for higher quality,” Kassamali said.

“This implies that despite the challenging environment, consumers are willing to justify a place in their basket for the products that bring value to them and resolve a point of tension

in their lives,” he added.

Nielsen said this only means innovation remains relevant in Southeast Asia markets. It stated that despite the Covid-19 crisis, innovation continues to drive fast moving consumer goods, or FMCG, growth in the region.

In 2020, Nielsen said a higher number of innovations were found in personal care with deodorants, shampoo, moisturizers and toothpastes.

In Thailand, Nielsen said innovations generated higher sales in 2020 compared to the previous year in key categories like personal care, household care, impulse and non-alcoholic beverages.

In Indonesia, innovative products accounted for only 4 percent of products in the market compared to 10 percent in 2019. These contributed to 0.2 percent of total FMCG sales versus 0.5 percent in 2019.

A4 Wednesday, March 24, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

ARTA reports NGA, LGU ‘compliance’ in ease of doing biz

By Cai U. Ordinario @caiordinario

T

HE Anti-Red Tape Authority (ARTA) has reported that almost all of the Compliance Reports of National Government Agencies (NGAs) it examined were compliant with the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.

In a news statement, ARTA said

out of the 1,596 external services reviewed from 48 Compliance Reports of NGAs, 96.93 percent were within the prescribed processing time stated in RA 11032.

ARTA also recommended in its report submitted to the Office of the President that the government should provide incentives for the use of online platforms for transparency.

“ARTA recommended incentivizing the use of online platforms,

the waiver or suspension of fees for initial business registrations of micro, small and medium enterprises [MSMEs], start-ups, and those falling within the gig economy through the online systems and portals of local government units or NGAs certified or endorsed by ARTA,” the statement read.

ARTA also recommended addressing difficulties in mobility during national emergencies due to the Co-

vid-19 pandemic by extending the validity of permits, licenses, and other government authorizations except for authorizations that may pose danger to public health and security.

ARTA also endorsed the issuance of executive orders and joint memorandum circulars addressing the streamlining of services under the telecommunications, logistics, socialized housing and energy sectors.

These are also the targeted sectors for National Effort for the Harmonization of Efficiency Measures of Interrelated Agencies or NEHEMIA Program.

Based on the report, ARTA said reforms associated with the ease of doing business law are making good progress.

Services in Local Governments such as Quezon City and a number of National Government Agencies (NGAs) have improved.

ARTA said availing of business permit at the Business Permitting and Licensing Office of the Local Government of Quezon City have improved from six to three working days.

Data also showed that Securing Building and Occupancy Permit at the Department of Building Official in Quezon City was reduced to 14 days from 120 days.

Processing of the certified true copies of e-titles

at the Land Registration Authority kiosks in Quezon City and Dasmariñas can now be done in two working days from four days.

The registration of certificate of registration at the Securities and Exchange Commission can now be completed in four days from 14 days, while a certificate of registration from the Bureau of Internal Revenue can be done in 15 days from 17 days.

“These were reflected in the compliance reports they submitted to ARTA pursuant to Administrative Order [AO] 23 issued last 21 February 2020, which directed all government agencies covered by Republic Act [RA] 11032 or the Ease of Doing Business law to eliminate overregulation and to promote efficiency of government processes,” the statement added.

The report and recommendations were based on ARTA’s review of the reports from LGUs and NGAs. These were forwarded to the OP last Friday, six months after the deadline of submission for the agencies.

Bill expands perks to private companies’ CSR campaigns

By Jovee Marie N. Dela Cruz

@joveemarie

H

OUSE Deputy Speaker Wes Gatchalian of Valenzuela has called on private companies to continue helping the government in fighting the Covid-19 contagion through their Corporate Social Responsibility (CSR) programs.

“We cannot thank you enough for all that you have donated— from PPE for our frontliners to basic necessities and financial aid —for those affected by the prolonged lockdown. May we continue to count on all of you until this pandemic is over,” Gatchalian, sponsor of House Bill 6137, or the Corporate Social Responsibility Act, and former chairman of the House Committee on Trade and Industry, said.

As defined in Gatchalian’s proposed legislation, CSR refers to “the commitment of businesses to contribute on a voluntary basis to sustainable economic development by working with relevant stakeholders to improve their lives in ways that are good for business, sustainable development agenda, and society at large.”

To encourage the expansion CSR programs, Gatchalian’s bill will allow stock corporations to retain surplus profits in excess of 100 percent of their capital stock for corporate social responsibility projects and programs approved by their respective Board of Directors.

It also mandates the Department of Trade and Industry to recognize and reward business establishments for outstanding, innovative and world-class CSR-related services, projects and programs.

HB 6137 has been approved in the Lower House and transmitted to the Senate for deliberation.

Welcome

GATCHALIAN also welcomed the decision of the Palace to reject the draft order prohibiting private companies, especially those selling “sin products,” including tobacco and alcoholic products, from importing Covid-19 vaccines for their employees and donating part of it to the government.

Last Monday, following mounting protests from lawmakers, the Palace announced that 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.

“While we recognize that these companies manufacture products that may cause potential health risks to the public, this should not be cause for them not to be able to take care of their employees. We should be thanking them for their initiative to protect their employees from Covid-19 instead of discriminating against them,” Gatchalian said.

“This draft order as it undermines the efforts of the private sector in helping stem the spread of the coronavirus. These are not ordinary times and contingency measures are essential to save lives,” he added.

The draft order purportedly mandates the Department of Health and the National Task Force Against Covid-19 to review all requests of private firms to procure vaccines “to ensure that private entities who will be part of the agreement are not in any way related to the tobacco industry, products covered under EO 51 Series of 1986, or the National Code of Marketing of Breastmilk Substitutes, Breastmilk Supplement and Other Related Products’ or other products in conflict with public health.”

Gatchalian said DOH’s draft order was an overreach and beyond the authority of the department, aside from being unconstitutional.

“Article XIII Section 11 of the 1987 Constitution states that ‘[t] he State shall adopt an integrated and comprehensive approach to health development, which shall endeavor to make essential goods, health and other social services available to all the people at affordable cost,’ emphasis on ‘all people,’ so this order is clearly unconstitutional,” he argued.

Gatchalian recalled a similar situation during the Taal Volcano eruption in 2020 when donations of formula milk and even bottled water from companies who were willing to donate to the Taal evacuees were likewise prohibited.

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

The World BusinessMirror

Wednesday, March 24, 2021

A5

WHO: Global Covid deaths rise for 1st time in 6 weeks

G

ENEVA—A top World Health Organization expert on the coronavirus pandemic said on Monday the weekly global count of deaths from Covid-19 is rising again, a “worrying sign” after about six weeks of declines.

Maria Van Kerkhove, technical lead on Covid-19 at the UN health agency, said the growth followed a fifth straight week of confirmed cases increasing worldwide. She said the number of reported cases went up in four of the WHO’s six regions, though there were significant variations within each region.

“In the last week, cases have increased by 8 percent percent,” Van Kerkhove told reporters. “In

Europe, that is 12 percent—and that’s driven by several countries.”

The increase is due in part to the spread of a variant that first emerged in Britain and is now circulating in many other places, including Eastern Europe, she said.

Southeast Asia registered a 49 percent week-to-week jump in confirmed cases, while WHO’s Western Pacific region reported a 29 percent rise largely fueled by

the Philippines, Van Kerkhove said. The eastern Mediterranean region saw cases rise 8 percent percent, while the number of cases reported in the Americas and Africa declined.

“I do want to mention that it had been about six weeks where we were seeing decreases in deaths,” said Van Kerkhove. “And in the last week, we’ve started to see a slight increase in deaths across the world, and this is to be expected if we are to see increasing cases. But this is also a worrying sign.”

WHO emergencies chief Dr. Michael Ryan acknowledged an urge among the public in many places to emerge from pandemic restrictions. Ryan insisted that any easing should coincide with measures such as strict case surveillance and high levels of vaccination, but said vaccines alone would not be enough.

“I’m afraid we’re all trying to grasp at straws. We’re trying to find

the golden solution: ‘So we just get enough vaccine and we push enough vaccine to people and that’s going to take care of it,’” he said. “I’m sorry, it’s not.”

Greece orders private doctors to join Covid battle

Meanwhile, Greece’s health minister is requisitioning the services of private sector doctors from certain specialties in the wider Athens region to help fight a renewed surge in coronavirus infections that is straining hospitals to their limits.

In an announcement released Monday, Vassilis Kikilias said that despite repeated appeals for private doctors to volunteer to help in the public sector, very few came forward. Therefore, the minister said, he was ordering specialists in pathology, pneumonology and general medicine to help.

Kikilias had said Friday he would requisition private sector doctors

Regeneron antibody cocktail lowers hospitalization, death rate by 70%

R

Medical staff prepares a syringe from a vial of the AstraZeneca coronavirus vaccine during preparations at the vaccine center in Ebersberg near Munich, Germany on March 22. AP/Matthias Schrader

AstraZeneca: U.S. data shows vaccine effective for all adults

W

ASHINGTON—AstraZeneca repor ted on Monday that its Covid-19 vaccine provided strong protection among adults of all ages in a long-anticipated US study, a finding that could help rebuild public confidence in the shot around the world and move it a step closer to clearance in the US. In the study of 30,000 people, the vaccine was 79 percent effective at preventing symptomatic cases of Covid-19—including in older adults. There were no severe illnesses or hospitalizations among vaccinated volunteers, compared with five such cases in participants who received dummy shots—a small number, but consistent with findings from Britain and other countries that the vaccine protects against the worst of the disease.

AstraZeneca also said the study’s independent safety monitors found no serious side effects, including no increased risk of rare blood clots like those identified in Europe, a scare that led numerous countries to briefly suspend vaccinations last week.

“I do hope it puts to bed any doubts about the vaccine efficacy,” Mene Pangalos, AstraZeneca’s biopharmaceuticals research chief, told The Associated Press. “Overall where the vaccine is being used, it’s been shown to be highly effective.

So I hope that the US study now will continue to give the vaccine some momentum and get it used even further around the world.”

The company aims to file an application with the Food and Drug Administration in the coming weeks, and the government’s outside advisers will publicly debate the evidence before the agency makes a decision. Pangalos said the vaccine could win emergency authorization toward the second half of April. If so, the company would deliver 30 million doses immediately and an additional 20 million within the first month.

W h a t t h a t w i l l m e a n f o r A m e r i c a’s v a c c i n a t i o n p l a n s i s u n c l e a r. Th e B i d e n administration already projects there will be enough doses for all adults by the end of May thanks to increasing supplies from the makers of the three vaccines already in use in the US—Pfizer, Moderna and Johnson & Johnson.

Federal officials said they didn’t want to prejudge the FDA’s review but cast the AstraZeneca findings as a victory both for the US supply and the global fight against the virus.

“There are very many countries in Europe and throughout the world who have already authorized this, so the fact that a United States-run study has confirmed the efficacy and the safety of this vaccine I think is an important contribution to global health in general,” said Dr. Anthony Fauci, the top US infectious disease expert.

The AstraZeneca shot, which has been authorized in more than 70 countries, is a pillar of a UN-backed project known as COVAX that aims to get Covid-19 vaccines to poorer countries. It has also become a key tool in European countries’ efforts to boost their sluggish vaccine rollouts. That made doubts about the shots especially worrying.

Even before the blood clot scare, scientists hoped the US study would clear up some confusion about how well the vaccine really works. While previous research suggested it was effective in younger populations, there were questions about how well it protects those over 65, often those most vulnerable to Covid-19.

Also, Britain authorized the vaccine based on partial results from testing in the United Kingdom, Brazil and South Africa that suggested the shots were about 70 percent effective. But those results were clouded by a manufacturing mistake that led some participants to get just a half dose in their first shot.

Stephen Evans, of the London School of Hygiene & Tropical Medicine, said the new data could help allay concerns.

“The benefits of these results will mainly be for the rest of the world where confidence in the AZ vaccine has been eroded, largely by political and media comment,” he said.

Two-thirds of the volunteers in the US study received the vaccine and the rest dummy shots, and Monday’s report is based on the first 141 Covid-19 cases reported after the second vaccine dose kicked in. AstraZeneca declined to provide a breakdown of those cases, as it continues to prepare its FDA submission.

But Fauci said the study was careful to include different ages, racial and ethnic minorities, and people with underlying health conditions, and found “comparable efficacy across ethnicity and age.”

Dr. Paul Hunter, a professor of medicine at the University of East Anglia, said the results were reassuring but that more details are needed to back up AstraZeneca’s claims.

“But this should add confidence that the vaccine is doing what it is most needed for,” said Hunter, who was not connected to the study.

On the safety front, France, Germany, Italy and other countries have resumed their use of the AstraZeneca vaccine after the suspension last week to investigate clots. On Thursday, the European Medicines Agency concluded the vaccine did not raise the overall risk of clots, but could not rule out that it was connected to two very rare types.

In the US, as in Britain and Europe, major efforts already are underway to watch for any unexpec ted problems as the first vaccines a re ro l l i n g o u t. And as the US considers AstraZeneca’s vaccine, Fauci said, “You can rest assured that the FDA will put a great deal of scrutiny in every aspect of these data.”

The AstraZeneca shot is what scientists call a “viral vector” vaccine. The shots are made with a harmless cold virus that normally infects chimpanzees.

It acts like a Trojan horse to carry genetic material from the coronavirus’s spike protein into the body.

That primes the immune system to fight back if the real virus comes along.

Two other companies, Johnson & Johnson and China’s CanSino Biologics, make Covid-19 vaccines using the same technology but using different cold viruses. AP

egeneron Pharmaceuticals Inc. said it would apply for US authorization for a lower dose of its Covid-19 antibody cocktail, after data from a finalstage trial showed early use of the drug reduced hospitalizations and deaths by 70 percent.

The Food and Drug Administration in November cleared Regeneron’s therapy for emergency use. The treatment is part of a class of therapies that were widely hailed for their effectiveness, though the drugs have been slow to be widely adopted because they are difficult to administer.

The treatment was studied in a phase 3 trial involving 4,567 people infected with the coronavirus who were at high risk of developing severe disease.

Those who were given the authorized dose of 2,400 milligrams had a 71 percent lower risk of hospitalization or death, compared with those who got a placebo, Regeneron said in a statement. But the trial also found that half the authorized dose, or 1,200 milligrams, was nearly as effective, lowering hospitalizations and deaths by 70 percent.

“We will rapidly discuss the new data with regulatory authorities and request that the 1,200 mg dose be added” to the US emergency authorization, George Yancopoulos, Regeneron’s chief scientific officer, said in a statement.

Authorization of a lower dose level would allow Regeneron to produce more doses of the treatment faster. The company previously said it expects to produce about 750,000 doses by the end of the second quarter, based on the 2,400-milligram dose.

“If the dose goes down, the same volume of manufacturing will produce more doses,” spokesman Alexandra Bowie said.

Regeneron’s antibody cocktail was given to former President Donald Trump after he came down with the coronavirus in October. It received emergency clearance based on initial trial results in roughly 800 outpatients showing it reduced virus levels and the need for further medical visits.

In February, Regeneron said that the results from the phase 3 portion of the study had found clear efficacy in reducing hospitalizations and deaths at both doses studied, but it hadn’t released details.

In the phase 3 study, the drug cocktail “met all secondary endpoints” including the ability to reduce symptom duration, the company said. In both doses studied, the duration of symptoms was reduced by four days, from 14 days to 10 days. No new safety issues were identified in the trial, the company said.

Bloomberg News

EU, US, UK, Canada sanction China officials over human rights abuses

B

RUSSELS— The European Union, Britain, Canada and the United States on Monday launched coordinated sanctions against officials in China over human rights abuses in the far western Xinjiang region, provoking swift retaliation from Beijing.

The EU targeted four senior officials in Xinjiang. The sanctions involve a freeze on the officials’ assets and a ban on them traveling in the bloc. European citizens and companies are not permitted to provide them with financial assistance.

The 27-nation bloc also froze the assets of the Xinjiang Production and Construction Corps Public Security Bureau, which it describes as a “state-owned economic and paramilitary organization” that runs Xinjiang and controls its economy.

British Foreign Secretary Dominic Raab said the measures were part of “intensive diplomacy” by the UK, the United States, Canada and the 27-nation EU to force action amid mounting evidence about serious rights abuses against the Uyghur Muslim people.

US Secretary of State Antony Blinken said in a statement that “a united transatlantic response sends a strong signal to those who violate or abuse international human rights, and we will take further actions in coordination with likeminded partners.”

“We will continue to stand with our allies around the world in calling for an immediate end to the PRC’s crimes and for justice for the many victims,” Blinken said.

China responded immediately to the EU’s move, slapping sanctions on 10 European individuals and four institutions that it said had damaged China’s interests and “maliciously spread lies and disinformation.”

Initially, China denied the existence of camps for detaining Uyghurs in Xinjiang but has since described them as centers to provide job training and to reeducate those exposed to radical jihadi thinking. Officials deny all charges of human rights abuses there.

Xinjiang had been a hotbed of anti-government violence, but Beijing claims its massive security crackdown brought peace in recent years.

China’s Foreign Ministry denounced the EU sanctions as “based on nothing but lies and disinformation” as it issued its own retaliatory measures.

The ministry announced sanctions against 10 individuals and four institutions, saying that they and their family members would be barred from entering mainland China, Hong Kong or Macao and cut off from financial dealings with those areas.

Among those targeted was Adrian Zenz, a US-based German scholar who has publicized abuses against minority groups in China’s regions of Tibet and Xinjiang. China has said companies and individuals have petitioned to sue Zenz, but it wasn’t clear who the plaintiffs were or how they would pursue legal action across borders. AP

unless at least 200 volunteered within 48 hours. Government spokeswoman Aristotelia Peloni said Monday that only 61 doctors had stepped forward voluntarily.

“It was the last measure, if you will, in the context of the emergency plan prepared by the Health Ministry, and it was decided that it was now necessary to mobilize private doctors as part of this great struggle, this national effort, after all the opportunities for voluntary participation were exhausted,” Peloni said.

The requisition order is for one mont h for 20 6 doc tors, health authorities said.

Greece has been experiencing a renewed surge of Covid-19 despite lockdown-related measures being in force since early November, with dozens of daily deaths recorded, as well as increasing numbers of patients hospitalized in intensive care units. About 500 people are hospitalized each day across the country

with Covid-19, health authorities say, w ith 200 of them being in the w ider Athens reg ion.

On Monday, Greece reported 1,707 new coronavirus infections and 69 more deaths, bringing the total confirmed infections in the country of around 10.5 million people to just under 240,000 and the death toll to 7,531.

Despite the rising numbers, authorities have announced a slight relaxation of lockdown measures, with hairdressers, nail salons and open-air archaeological sites reopening as of Monday. Amateur fishing, which had also been banned, is also being allowed for those living in coastal areas, as access to the sea is allowed only on foot or bicycle.

Authorities said Monday that close to 1.5 million doses of the vaccine have been administered so far in the country, with nearly 1 million people receiving at least one jab. AP

News

BusinessMirror

A4 Wednesday, March 24, 2021 A6

ADB urges Tesda to scale up TVET amid Industry 4.0

By Cai U. Ordinario @caiordinario

I

NDUSTRY 4.0 may worsen the existing inequalities in the Philippines, according to the latest report released by the Asian Development Bank (ADB).

In the report, titled Technical and Vocational Education and Training in the Philippines in the Age of Industry 4.0, ADB said Industry 4.0 is expected to cause “massive job displacement and job gains and transform work tasks and occupations.”

ADB said in this regard, the technical and vocational education and training (TVET) from the Technical Education and Skills Development Authority (Tesda) would have a major role to play.

“Due to Industry 4.0’s potential to exacerbate existing inequalities, TVET has a major role to play, particularly through the delivery of high-quality programs in line with the demands and requirements of growth sectors, and the targeting of disadvantaged groups, particularly youth, women, and the poor population residing in largely agricultural regions,” the report stated.

The study stated that the country’s economic growth in the past

10 years made it one of the fastestgrowing economies in the world. This also improved the quality of employment in the Philippines.

The report noted that the country’s GDP growth was at 4.8 percent annually between 2000-2010 and 6.3 percent between 2010 and 2019.

This growth, however, failed to lead to massive job creation and improve the state of informality, underemployment, and vulnerable and precarious employment in the country.

ADB said despite the rapid growth, some 2.3 million of the Filipino labor force were unemployed and an additional 5.9 million were underemployed in 2019.

“In the coming years, to meet its more-inclusive development objectives, the Philippines will need to expand the scale of decent work creation, and engage more of its population in the labor force, with a particular focus on women, youth, vulnerable groups, and poorer regions. In that regard, skills and education have a major role to play,” the report stated.

ADB said the review was timely given that Covid-19 continue to take a heavy toll on the Philippine labor market. The National Economic and Development Authority (Neda) said that as of January 2021, around 4 million Filipinos

remain unemployed.

ADB Human and Social Development Director for Southeast Asia Ayako Inagaki said in a statement that now more than ever, the importance of adequate and timely investment in skills—including reskilling, upskilling, and the development of strong technical and soft skills—is needed to help displaced workers’ transition into new jobs.

“The Covid-19 pandemic has deeply affected segments of the population that are most in need of upgrading their skills to adapt to the changing needs of the labor market,” Inagaki said.

“Through much-needed investments and capacity building, the government’s technical and vocational education and training system can help shape labor market outcomes and adjust to anticipated changes to achieve its dual objective of creating a competitive work force and helping marginalized workers,” she added.

ADB said school disruptions and closures due to the pandemic have opened the doors for Tesda to adopt nontraditional, innovative, and flexible solutions, such as online learning and digital tools.

These have played a critical role in retooling and upgrading the skills of displaced workers.

Tesda, ADB said, responded swiftly to emerging labor market needs.

It expanded access to its online programs through a partnership with the private sector and launched a plan to develop policies and programs that will help the country respond to the ongoing crisis and adjust to the changes.

“There are important challenges to tackle with respect to Tesda’s organizational structure and capacity,” said ADB Social Sector Specialist Sameer Khatiwada, lead author of the study. “Although Tesda has made major achievements over the years, questions around its appropriate role, endemic resource constraints, and organizational capacity weigh on its ability to respond to Industry 4.0.”

The report recommends that the government seek new and effective ways to secure industry engagement in skills training, such as anticipating skills demand, and ensuring better targeting of skills training programs.

The situation also called for greater efficiency of skills supply, limiting mismatches, and improving labor market outcomes. It also recommended standardizing and improving workshops, equipment, and digital solutions to meet international norms.

Ensure ‘more efficient’ computerization program to boost distance learning, senator tells DepEd execs

By Butch Fernandez @butchfBM

S

EN. Sherwin T. Gatchalian pressed Tuesday for a “more efficient rollout” of the Department of Education’s (DepEd) computerization program to boost “distance learning.”

Gatchalian, chairman of the Senate Committee on Basic Education, Arts and Culture, reminded in a news statement issued on Tuesday that though the Bureau of Customs repeatedly donated seized gadgets to the DepEd to support distance learning, the DepEd, in turn, should also ensure a more efficient implementation of its own computerization program.

“The DepEd Computerization Program [DCP] aims to respond to the computer backlog of public schools and provide these schools with appropriate technologies to

The DepEd Computerization Program [DCP] aims to respond to the computer backlog of public schools and provide these schools with appropriate technologies to enhance the teachinglearning process and meet the challenges of the 21st century.

BM

Sen. Sherwin T. Gatchalian enhance the teaching-learning process and meet the challenges of the 21st century,” he said, noting that the DCP also aims to provide computer laboratory packages to secondary schools, e-classroom to elementary schools, and laptops for mobile teachers.

The senator pointed out that even as the DCP got a P5.9-billion allocation under the 2021 General Appropriations Act, the program

was “hounded by implementation woes, which should be immediately addressed.”

Gatchalian recalled that the Commission on Audit (COA) 2019 report noted that from 2015 to 2019, the DCP only met 59.43 percent of its target, which meant only 8,523 out of 14,342 targeted schools nationwide received ICT packages. The COA, he added, also flagged more than P3.2 billion

in payments to suppliers in 2019 which, he said, were not supported by documentary requirements.

The senator added that an inspection by the audit body revealed that “some schools were not ready to receive the packages because they lack multimedia or computer rooms, proper electrical groundings, wirings and circuit breaker, and window grills.”

Moreover, he noted that ICT coordinators also reported some suppliers did not provide after-sales services. “Some of them could no longer be reached through contact details provided,” Gatchalian found out, lamenting that “this prevented schools from availing of warranty privileges and let suppliers escape liability.”

At the same time, Gatchalian indicated he is eyeing options to file a bill that “aims to provide laptops and Internet allowances to the country’s K to 12 learners.”

www.businessmirror.com.ph

Congress to Palace: Please clarify rules on firms’ vaccine purchase

By Samuel P. Medenilla @sam_medenilla

& Jovee Marie N. Dela Cruz @joveemarie

A

FTER rejecting the draft order prohibiting certain industries from procuring and donating Covid-19 vaccines to their employees, lawmakers asked the national government to clarify how the private sector can procure their vaccines.

Albay Rep. Joey Sarte Salceda called anew to national government to immediately release “simple and reasonable” implementing rules and regulations (IRR) of the Covid-19 Vaccination Program Act to allow private sector to help the government to secure vaccines.

“What is central now is the release of the implementing guidelines of RA 11525. We need clarity as to how the private sector can procure vaccines,” he said.

Relatedly, the Palace said private companies are not required to donate a portion of their Covid-19 vaccine, which they will purchase through a tripartite agreement with the government and pharmaceutical firms.

In an online press briefing on Tuesday, Chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez Jr. clarified that firms could keep all of their purchased vaccine as long as they do not sell it.

In the case of the 17 million doses of vaccines purchased by private sector and local government units (LGU) from AstraZeneca, he said it was the British pharmaceutical firm, which required that 50 percent of the purchased vaccine be donated to the government.

“They have a provision [in the tripartite agreement], which they call corporate principle of equitable access and non-privilege access,” Galvez explained.

“This means the 50 percent of [the vaccine] purchased by the private sector should be given to marginalized target population of the public sector,” he added. The pharmaceutical firm had sold the vaccine at cost to private business.

Galvez noted other drug makers such as Moderna, Novavax, and Sinovac made no such stipulation in the tripartite agreements they signed with the private sector.

Currently, the vaccine czar said the private sector and LGUs have purchased around 40 million doses of Covid-19 vaccines, which are expected to arrive by the middle of the year.

Galvez issued the clarification amid criticism that the government imposed measures, which make it harder for the private sector to purchase Covid-19 vaccines for their workers.

He stressed that all companies

could easily purchase vaccine as long as they enter into a tripartite agreement with government—something deemed necessary to ensure the government will pay, in case of severe adverse reactions, for the indemnity for vaccine use. This, provided it is not related to “willful misconduct and gross negligence” of the manufacturer as stipulated in Republic Act 11525 or the Covid-19 Vaccination Program Act. On Monday, President Duterte reiterated the government will not pay for any liability related to the negligence of manufacturers such as breakage of vaccines vials due to mishandling and if the vaccine will lack efficacy as advertised.

Indemnification remark

MEANWHILE, Salceda said President Duterte’s statement on indemnification should be taken only in the context of the law he signed, Republic Act 11525.

Last Monday, Duterte said the government could not assume liability and pay individuals for the adverse effects of the vaccines.

“The law sets a P500-million indemnification fund that the President can terminate. This hedges us from unwarranted fiscal risks,” Salceda, an economist, said.

“We have a practice called risk allocation. The burden of risk an entity bears should be proportional to the amount of control the entity has over the risk factors. Most of the risks associated with vaccines can be controlled at the production stage.

The risks we control are only in administration and storage, so we can only competently answer for risks from these factors,” he added.

According to Salceda, the government cannot give pharmaceutical companies a blank check on the risks of the vaccine.

“I strongly believe that the vaccines are safe and effective. But that is a guarantee that pharmaceutical providers will also have to give us.

Setting an unlimited indemnification fund sends a very bad signal that they can send vaccines of whatever quality to us. The wisdom in RA 11525 is that it is limited,” he added.

“That said, the vaccines have been proven to be safe and effective, so indemnification is only a peripheral topic,” Salceda said.

As for vaccine confidence, Salceda urged the public to shift the conversation away from picking among brands.

“The best vaccine is an available vaccine. I urge the government, the media, and civil society to work together to explain the vaccines from a fair and objective standpoint. Let us explain efficacy rates, side effects, and benefits in a satisfying way. We cannot afford to sensationalize vaccine science in this crisis,” he said.

PHL cited for frontier tech gains, but digital gaps noted Among the programs the DICT is implementing to address the digital gap are: the National Broadband Program (NBP), the Free Wi-Fi for All Program, and the Common Tower Initiative

Boost for SDGs

DIGITAL technologies can help Southeast Asian countries, including the Philippines, to fast-track their achievement of the Sustainable Development Goals (SDGs) and recovery from the pandemic, according to a joint report released by the Asian Development Bank (ADB), United Nations Economic and Social Commission for Asia and the Pacific (Escap), and United Nations Development Programme (UNDP).

United Nations Undersecretary-General and Executive Secretary of Escap Armida Salsiah Alisjahbana said efforts to recover from the pandemic need digital technology and mainstreaming data, among others.

“The region now must develop

digital technology-based policy responses and mainstream data and statistics in [the region’s] recovery [from the pandemic],” Alisjahbana said in her speech at the 8th AsiaPacific Forum on Sustainable Development (APFSD) which started on Tuesday.

The report noted that digital capacities in many parts of the region are low. The Philippines and Lao PDR have a big gap in the share of adults with bank accounts between the top 60 percent and the bottom 40 percent of the income distribution.

Further, Internet use is lower among those in the bottom 40 percent of the population in the region.

In the Philippines, Filipinos over 35 years old are the least connected while in Lao PDR, Internet connection is also affected by gender.

The data also showed that in Indonesia, Lao PDR and Viet Nam, among other countries, lower education levels are associated with low Internet use.

The report also noted that while

digitization of wage payments in the Philippines is progressing, there is still an “ample scope for greater inclusion.”

“The pandemic has provided us a once-in-a-lifetime opportunity to make bold choices that put us on a path to green, resilient, inclusive, and sustainable recovery, in line with the ambition of the SDGs,” said ADB Vice President for Knowledge Management and Sustainable Development Bambang Susantono.

“Through strong and inclusive partnerships, we must work even harder to build a healthier, safer, fairer, and more prosperous Asia and the Pacific.”

ADB said the report highlighted inequalities and vulnerabilities in the region that have amplified the impact of the pandemic, especially among the poorest, women, and socially excluded groups.

The report, ADB said, noted the risk that some parts of the region could recover faster than others, and further deepen inequality be-

tween countries.

Rapid digitalization, ADB said, reduced the impact of the pandemic for some people in many countries, but digital divides may perpetuate the exclusion of vulnerable groups.

However, policy-makers and the private sector should work together to ensure that digitalization creates opportunities for all, and enables progress on the SDGs. The report said regional cooperation efforts should focus also on people-centered development, sustainability, and climate change, to address environmental vulnerabilities that have compounded the pandemic’s health and socioeconomic impacts.

“While the Covid-19 pandemic has changed the socioeconomic and political landscape of Asia and the Pacific, the 2030 Agenda for Sustainable Development must continue to be our guiding light for a sustainable, green and inclusive recovery,” National Economic and Development

Authority (Neda) Undersecretary for Policy and Planning Rosemarie G. Edillon said on Tuesday.

Despite the impact of the lockdowns on the economy and the welfare of Filipinos, the Neda remained confident the country can still attain the SDGs by 2030.

In a 2021 SDG report, the Unescap said Southeast Asian countries, including the Philippines, are only on track to meet one goal while the progress in others are either stagnant or regressing.

Much of this was brought by the pandemic, particularly the lockdowns that governments imposed to contain the spread of Covid-19. The Philippines has been on lockdown for a year, the longest implemented anywhere in the world.

“We have a good head start so we can achieve them. For instance, we can achieve our poverty target of 6 million lifted in 2018, or 4 years ahead of the 2022 target,” Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua told Busi-

continued from a10

nessMirror on Tuesday. “[In terms of] poverty, we are on track. We [just] have to open [the] economy more safely.”

Chua added that the country’s poverty targets remain achievable, despite the millions of Filipinos who became unemployed last year.

In January 2021, around 4 million Filipinos remained unemployed.

“We think it’s too soon to throw in the towel on the SDG targets. It will be more challenging, but we need to catch up. At the same time, we need to make sure that the gains are sustained by building resiliency,” Neda’s Edillon also told BusinessMirror.

In a briefing on Tuesday, Rony Soerakoesoemah, Head of Escap Sub-regional Office for South-East Asia said the region is regressing in 18 SDG indicators except in SDGs 2, 5, 6, and 9.

These indicators include resilience to disasters; substance abuse; road traffic accidents; equal access education; and the share of renewable energy.

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

ASCENT DEVELOPMENT CONSTRUCTION INC. 5th Floor Strata 100 Bldg. F. Ortigas Jr. Ave. Ortigas Center San Antonio Pasig City 1.

SEO, SEONJU South Korean

QUALITY ASSURANCE MANAGER

AVANTICE CORPORATION 19/f Pbcom Tower Ayala Ave. Bel-air Makati City 2.

MOU, XIAOPING Chinese

3.

NOVITA WINDA SUKMA SARI Indonesian

4.

PEPAT, SATHITA Thai

OPERATIONS EXECUTIVE

5.

GAO, MIAO Chinese

OPERATIONS SENIOR ANALYST

6.

AGUSTINA Indonesian

7.

ARISANDY TANJAYA Indonesian

8.

DWIANY ISWANDARI SAMOSIR Indonesian

PAYMENT EXECUTIVE

9.

MUSTIKA Indonesian

PAYMENT EXECUTIVE

10.

CHU, MENGMENG Chinese

RISK ASSOCIATE

OPERATIONS EXECUTIVE OPERATIONS EXECUTIVE

PAYMENT EXECUTIVE PAYMENT EXECUTIVE

BEST RELIABLE RESOURCES CORP. Ub 111 Paseo De Roxas Bldg. Paseo De Roxas San Lorenzo Makati City 11.

SAPORTA, DOR Israeli

BUSINESS INTELLIGENCE CAMPAIGN ANALYST

12.

DAHAN, ADI SHOSHANA Israeli

STRATEGY MANAGER

ARIE, RAZ Israeli

TRAINING AND DEVELOPMENT MANAGER

13.

BIG EMPEROR TECHNOLOGY CORP. 5f-13f, Jiaxing Tower Building Aseana Avenue, Aseana Business Park Tambo Parañaque City

NO.

39.

FOREIGN NATIONAL / NATIONALITY MUNN, KRISTOPHER SCOTT American

ESTABLISHMENT / ADDRESS POSITION

NO.

CONSULTANT

68.

69.

CONSULTING SUPERIORS INC. Unit No. 2c, Flr. No. 4/f, One E-com Center Bldg. Ocean Drive Mall Of Asia Complex St. Zone 10, Barangay 076, District 1 Pasay City 40.

CHE, XIANGYONG Chinese

CHINESE SPEAKING ADMINISTRATION MANAGER

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

DECINET DIGITAL CO. LIMITED Unit 4 C & D 4th Floor Commerce And Industry Plaza Bldg.

Mckinley Town Center Park Avenue, Bgc, Fort Bonifacio Taguig City 46.

YONG CHUNG YOONG Malaysian

MALAYSIAN ACCOUNT MANAGER

DIAMONDSTONE INC. Unit No. Unit 2c Flr. One E-com Center Building Bldg. Lot No.4/f, Ocean Drive St. Mall Of Asia Complex Subd. District 4 Barangay 076 District 4 Pasay City 47.

LI, LI Chinese

CHINESE SPEAKING BUSINESS ANALYST

EEI CORPORATION 12 Manggahan Bagumbayan 3 Quezon City 48.

LAPUZ, ROMAN MANALASTAS Australian

ASSISTANT VICE PRESIDENT - PROJECT CONTROL (INFRASTRUCTURE)

FAIR GROUND INC. 3rd Flr #50 2nd Ave. Smrec Industrial Subd. Bagumbayan Taguig City

19.

20.

LU, MENGYUN Chinese

MANDARIN CUSTOMER SERVICE

WANG, JIABIN Chinese

MANDARIN CUSTOMER SERVICE

22.

YANG, QIANG Chinese

MANDARIN CUSTOMER SERVICE

23.

HU, JIAYING Chinese

MANDARIN LANGUAGE SPECIALIST

LIU, YI Chinese

MANDARIN LANGUAGE SPECIALIST

30.

LYU, JIE Chinese

MANDARIN LANGUAGE SPECIALIST

31.

MENG, NA Chinese

MANDARIN LANGUAGE SPECIALIST

SONG, JIA Chinese

MANDARIN LANGUAGE SPECIALIST

33.

YAN, JIKE Chinese

MANDARIN LANGUAGE SPECIALIST

34.

YANG, HUAN Chinese

MANDARIN LANGUAGE SPECIALIST

35.

YAO, JIE Chinese

MANDARIN LANGUAGE SPECIALIST

36.

ZHANG, XUE Chinese

MANDARIN LANGUAGE SPECIALIST

32.

BIGCAT SOFTWARE SOLUTIONS, INC. 18/f Pbcom Tower, 6795 Ayala Avenue Cor. Rufino Street Salcedo Vill. Bel-air Makati City 37.

SILLAPAYA, THIPPAWAN Thai

THAI LANGUAGE- OFFICER CUSTOMER SERVICE

38.

HUA TU THANH Vietnamese

WANG, HAIYANG Chinese

CHINESE CUSTOMER SERVICE

CHEN, XIONG Chinese

108.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

WANG, CHAOHUI Chinese

CHINESE CUSTOMER SERVICE

71.

CHEN, YOUXIONG Chinese

109.

XIE, ZHANGPENG Chinese

CHINESE CUSTOMER SERVICE

72.

GUO, JIAHUI Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

110.

XU, XINGXING Chinese

CHINESE CUSTOMER SERVICE

HSU, YA-CHIAO Taiwanese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

111.

YAN, HONGLIANG Chinese

CHINESE CUSTOMER SERVICE

73.

112.

LEI, HANG Chinese

YAN, PENGJIE Chinese

CHINESE CUSTOMER SERVICE

74.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

113.

YAN LYAN TAUNG Myanmari

CHINESE CUSTOMER SERVICE

114.

YANG, ZHAOWEI Chinese

CHINESE CUSTOMER SERVICE

115.

YANG, CHENCHEN Chinese

CHINESE CUSTOMER SERVICE

116.

ZHANG, TIWEI Chinese

CHINESE CUSTOMER SERVICE

117.

ZHANG, YUEFEI Chinese

CHINESE CUSTOMER SERVICE

118.

ZHENG, ZHIHAI Chinese

CHINESE CUSTOMER SERVICE

119.

ZHONG, QIU Chinese

CHINESE CUSTOMER SERVICE

120.

ZHOU, HUANGXIANG Chinese

CHINESE CUSTOMER SERVICE

121.

LI, YAN Chinese

CHINESE CUSTOMER SPECIALIST

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

MANDARIN CUSTOMER SERVICE

29.

107.

MA, QINGLIN Chinese

LIU, YIFENG Chinese

MANDARIN LANGUAGE SPECIALIST

70.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

76.

MANDARIN CUSTOMER SERVICE

LIU, KANGLONG Chinese

CHINESE CUSTOMER SERVICE

LIANG, XIONGJIAN Chinese

45.

JIA, SHUN Chinese

28.

WANG, XINLIANG Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

18.

MANDARIN LANGUAGE SPECIALIST

106.

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

MANDARIN CUSTOMER SERVICE

LIU, YUANWEN Chinese

CHINESE SPEAKING BUSINESS DEVELOPMENT ASSOCIATE

LI, CHUNFENG Chinese

GUO, YU Chinese

27.

SUN, CHAOYING Chinese

75.

44.

17.

MANDARIN LANGUAGE SPECIALIST

CHINESE CUSTOMER SERVICE

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

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

LIU, DIANLIN Chinese

WANG, ZHENG Chinese

CHEN, MOZHU Chinese

MANDARIN CUSTOMER SERVICE

26.

105.

HUANG, CHENG-FENG Taiwanese

43.

GUO, SONGLIANG Chinese

25.

CHINESE SPEAKING BUSINESS DEVELOPMENT ASSOCIATE

CHINESE SPEAKING BUSINESS DEVELOPMENT ASSOCIATE

16.

MANDARIN LANGUAGE SPECIALIST

RONG, JIAN Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

49.

LING, CONG Chinese

POSITION

WANG, XIAOFEI Chinese

MANDARIN CUSTOMER SERVICE

MANDARIN LANGUAGE SPECIALIST

FOREIGN NATIONAL / NATIONALITY

42.

CAI, JINHAO Chinese

HUANG, QIN Chinese

NO.

CHINESE SPEAKING ADMIN ASSOCIATE

15.

24.

POSITION

LI, RUIXUE Chinese

COMPUTER SYSTEM ANALYST

21.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS

41.

ALEX LIM WEE YEOW Malaysian

14.

Wednesday, March 24, 2021 A7

50.

KANG, TAEYOUNG South Korean

LIU, SONG Chinese

MARKETING CONSULTANT

MANDARIN CUSTOMER SERVICE

FIRSTSOURCE SOLUTIONS LIMITED 5/f Firstsource Building Plaza D Northgate Cyberzone Alabang Muntinlupa Cit 51.

PINTO, KEVIN LAWRENCE JOSEPH Indian

DEPUTY GENERAL MANAGERADMINISTRATION

FREEMOVED INC. 40/f Pbcom Tower 6795 Ayala Ave. Cor. V.a Rufino St. Bel-air Makati City 52.

SONG, YAN Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

53.

YU, YUEQIN Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

XIE, BOHAN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

54.

IDNPLAY CORPORATION 8/f Burgundy Corporate Tower 252 Sen. Gil J.puyat Ave. Pio Del Pilar Makati City

M AND J SOLUTIONS PROVIDER INC. Ub 111 Paseo De Roxas Bldg. Paseo De Roxas San Lorenzo Makati City 77.

KAKOON, MOR Israeli

ADMINISTRATIVE MANAGER

M.B.A CONSULTING PHILIPPINES INC. Unit 203a & 203b Bonaventure Building Ortigas Ave. Brgy.

Greenhills San Juan City 78.

TERKSII, ALEKSEI Russian

CHIEF RISK OFFICER

MARKETROLE ASIA PACIFIC SERVICES, INC. 26/f, 27/f, 28/f The Enterprise Center Tower 1 6766 Ayala Ave. Cor. Paseo De Roxas San Lorenzo Makati City 79.

LIU, LEI Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

80.

SHI, XIN Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

81.

WANG, WENQUAN Chinese

CHINESE SPEAKING CUSTOMER SERVICE STAFF

MAX INFOTECH ACCENT INC. 18th Flr. Vector 3 Bldg. Northgate Cyberzone Fcc Alabang Muntinlupa City 82.

LIU, LEI Chinese

CHINESE CALL CENTER AGENT (MANDARIN SPEAKING)

83.

WANG, ZHIHAI Chinese

CHINESE CALL CENTER AGENT (MANDARIN SPEAKING)

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

PRIME GREAT COMPUTER TECHNOLOGIES INC. 3/f To 8/f, Nissan Sucat Zentrum Building 8390 Dr. A Santos Avenue Bf Homes Parañaque City 122.

CHEN, LONG Chinese

IT TECHNICAL MANDARIN

SKY DRAGON GLOBAL TECHNOLOGIES CORP. 2f-5f Unit 710 Shaw Blvd. Global Link Center, Brgy. Wack Wack Mandaluyong City 123.

LI, WENSHUAI Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

SMCC PHILIPPINES, INC. 6/f Peninsula Court Bldg. 8735 Paseo De Roxas Bel-air Makati City 124.

TANAKA, AKI Japanese

ASSISTANT MANAGER

125.

OHIRA, YASUHIRO Japanese

MANAGER

84.

DANG THI THOA Vietnamese

CHINESE CUSTOMER SERVICE

SONG FLAVOURS GLOBAL TRADING, OPC 94 Dragon Street Midtown Subd. San Roque Marikina City

85.

FENG, WEIBIN Chinese

CHINESE CUSTOMER SERVICE

126.

86.

HE, JIANGFA Cambodian

CHINESE CUSTOMER SERVICE

87.

HE, TAO Chinese

CHINESE CUSTOMER SERVICE

88.

HONG, CANJIE Chinese

CHINESE CUSTOMER SERVICE

89.

HUANG, LIZHOU Chinese

CHINESE CUSTOMER SERVICE

90.

LEI, YONGGAN Chinese

CHINESE CUSTOMER SERVICE

91.

LEI, YUCHEN Chinese

CHINESE CUSTOMER SERVICE

92.

LI, DAN Chinese

CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE

NGUYEN TAN TRUNG Vietnamese

MANDARIN SPEAKING RESEARCH AND DEVELOPMENT SPECIALIST

VAN GOGH BUSINESS PROCESS OUTSOURCING INC. 5/f Ayala Circuit Bpo-1 Bldg. Theater Drive Circuit Makati Carmona Makati City 127.

ZHANG, JUN Chinese

INFORMATION SECURITY ANALYST

128.

HOU, CUICUI Chinese

IT TECHNICAL MANDARIN

129.

LIU, ZHIRONG Chinese

IT TECHNICAL MANDARIN

130.

LUO, QIANG Chinese

IT TECHNICAL MANDARIN

131.

SONG, ZHONGWEI Chinese

IT TECHNICAL MANDARIN

132.

XIAN, XICUN Chinese

IT TECHNICAL MANDARIN

CHANDIAWAN Indonesian

INDONESIAN-SPEAKING CUSTOMER SERVICE

56.

MEGAWATY Indonesian

INDONESIAN-SPEAKING CUSTOMER SERVICE

57.

RATNA Indonesian

INDONESIAN-SPEAKING CUSTOMER SERVICE

58.

SHEYLLA KATILI Indonesian

INDONESIAN-SPEAKING CUSTOMER SERVICE

93.

LI, MEIYING Chinese

59.

WIDIA SEPTIANA Indonesian

INDONESIAN-SPEAKING CUSTOMER SERVICE

94.

LI, YADONG Chinese

CHINESE CUSTOMER SERVICE

95.

LIU, HUAIJUN Chinese

CHINESE CUSTOMER SERVICE

133.

CHANG, WENGANG Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

96.

LIU, DONG Chinese

CHINESE CUSTOMER SERVICE

134.

TIAN, YUAN Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

97.

NIU, WEIHUA Chinese

CHINESE CUSTOMER SERVICE

ZAPPORT SERVICES, INC. 36/f Burgundy Corporate Tower 252 Sen. Gil J. Puyat Ave. Pio Del Pilar Makati City

98.

OOI TIAN MING Malaysian

CHINESE CUSTOMER SERVICE

55.

INTERQUEST MANPOWER INC. Unit 602 6/f Richville Corporate Tower Madrigal Business Park Ayala Alabang Muntinlupa City 60.

LI, JINGSONG Chinese

SALES MANAGER

61.

WU, SHAOJIE Chinese

SALES MANAGER

LARKSPUR INC. 19/f Marco Polo Hotel Manila Sapphire Road Ortigas Center San Antonio Pasig City CHEN, YUAN Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

99.

PHAM THANG DAU Vietnamese

CHINESE CUSTOMER SERVICE

63.

CHU THI NAM Vietnamese

CHINESE SPEAKING ADMIN ASSOCIATE

100.

QI, XUEKE Chinese

CHINESE CUSTOMER SERVICE

64.

FAN, XINYU Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

101.

WANG, JING Chinese

CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE

62.

65.

CHINESE SPEAKING ADMIN ASSOCIATE

102.

VIETNAMESE LANGUAGEMARKETING OFFICER

LEI, MENGTING Chinese

WANG, XIAODAN Chinese

66.

YAN, LIANG Chinese

CHINESE SPEAKING ADMIN ASSOCIATE

103.

WANG, ZHIGANG Chinese

CHINESE CUSTOMER SERVICE

CERTOSA RESOURCES INC. Unit 705 7/f Asian Star Bldg. Filinvest Alabang Muntinlupa City

67.

ZHAO, XINGLONG Chinese

CHINESE SPEAKING BUSINESS ANALYST

104.

WANG, ZHENYANG Chinese

CHINESE CUSTOMER SERVICE

WHEELSTRIP CORP. 40/f Pbcom Tower 6795 Ayala Ave. Cor. V.a Rufino St. Bel-air Makati City

135.

NIKO ANDREAS Indonesian

INDONESIAN SPEAKING CUSTOMER SERVICE OFFICER *Date Generated: Mar 23, 2021

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

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

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A8 Wednesday, March 24, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Hog raisers badly need govt help against ASF

M

ore than a month after the government capped pork prices in the metropolis, the Department of Agriculture recently reported that pork sold in wet markets and supermarkets in Metro Manila was still priced above the price caps set by Executive Order 124 (See, “Pork retail price still way above govt-set price caps, in the BusinessMirror, March 22, 2021). A report released by the DA indicated that from March 15 to 19, pork ham or kasim in selected markets in Metro Manila was sold at P300 to P350 per kilogram, which was higher than the price cap of P270 per kg. Pork belly or liempo was sold at P320 to P380 per kg, also higher than the price cap of P300 per kilo.

Pork prices remain high, but the levels are now lower than the P400 per kilo registered in January. Measures undertaken by concerned agencies helped temper the price of pork, a favorite source of protein of most Filipinos. These initiatives include the coordination of the national government with hog raisers in other parts of the country to supply the National Capital Region with muchneeded live hogs.

The stopgap measures, however, can only go so far because they do not address the root cause of the problem. African swine fever, which is fatal to hogs, continues to ravage hog farms, although outbreaks have been decreasing in recent weeks (See, “BAI reports ‘record-low’ ASF outbreaks since August 2019,” in the BusinessMirror, March 12, 2021). From a high of 300 outbreaks, the figure has gone down to 62 cases in March, but this does not mean that the virus that causes ASF has been totally eliminated.

Unfortunately, surveillance programs are not enough to prevent virus flare-ups. Agencies in charge of fighting the scourge that is ASF need more funds so they can immediately indemnify hog raisers who will suffer losses due to ASF outbreaks. An indemnification scheme that will allow hog raisers to immediately recoup their losses and tide them over while they wait for the virus to be eliminated from their farms will go a long way in boosting efforts to eliminate ASF. Agencies can only set up such an indemnification scheme if they can tap other sources of funds for this purpose. That is why senators and the Department of Agriculture sought a declaration of national emergency to prevent the further spread of ASF (See, “Palace gets draft of national emergency declaration on ASF,” in the BusinessMirror, March 19, 2020). Part of this emergency declaration is the establishment of an indemnification fund for both the backyard and commercial hog raisers affected by ASF. We call on Malacañang to issue this declaration of national emergency and mobilize badly needed resources that will help both line agencies and the private sector to prevent the spread of ASF. The pork production shortfall this year was pegged at 388,790 metric tons as the country lost at least 3.08 million pigs as of January 1, based on latest PSA data. Delaying initiatives aimed at helping hog raisers get back on their feet as soon as possible would only mean more pig losses and higher commodity prices.

Since 2005

BusinessMirror A broader look at today’s business

SSS maternity benefit for nurturing women Aurora C. Ignacio

All About Social Security

‘A

woman is the full circle. Within her is the power to create, nurture, and transform.” This quote from author Diane Mariechild epitomizes what a woman truly is—one who takes care of, feeds, helps develop, and protects someone or something.

As we celebrate March as the International Women’s Month, we realize that a woman’s role has transcended her conventional role over time and generations. Women are now at par with the social and legal rights given to our male counterparts.

The Philippines is one of the most gender-equal countries in the world for the past years, with the 2020 Global Gender Gap report of the World Economic Forum ranking the Philippines No. 16 among 153 countries surveyed.

At present, there are about 111 million Filipinos, of whom 49.9 percent are women. Their presence and impact in various sectors of our society can be felt significantly, as we encounter them not only in the academe but also in business, economy, health, labor, military, and political sectors.

Dennis Gorecho

Founder

Editor in Chief Associate Editor News Editor Senior Editors

Online Editor Creative Director Chief Photographer Chairman of the Board Ombudsman President Advertising Sales Manager Group Circulation Manager

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso Ruben M. Cruz Jr. Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025.

(Advertising Sales) 893-2019; 817-1351, 817-2807.

(Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

Pinoy Marino Rights

T. Anthony C. Cabangon Lourdes M. Fernandez

In case o​f death, absence, or incapacity of the father, the benefit may be allocated to an alternate caregiver, who may be a relative within the fourth civil degree of consanguinity or the current partner of the female worker sharing the same household.

This generous benefit package only shows that SSS cares for its female members since we know that childbirth is one of the most difficult processes any woman will experience in her life aside from being a mother, which is a 24-hourseven-day-a-week occupation.

For the record, from January to December 2020, SSS has disbursed P10.49 billion to around 290,000 female members who availed themselves of the benefit. Amid the pandemic, SSS is still their shoulder to lean on for this type of contingency, aside from sickness, disability, unemployment, retirement, death and funeral benefits.

We should celebrate the incredible women in our world—our mothers, grandmothers, wives, daughters, girlfriends, and sisters in whatever color, nationality, race, or ethnicity—not only this month, but in all the days of the year.

Salute to all women in the world!

Aurora C. Ignacio is SSS president and chief executive officer.

We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

‘Personal comfort’ doctrine and compensability of injuries during recreational activities

✝ Ambassador Antonio L. Cabangon Chua Publisher

A basic tenet at the Social Security System, as a state pension fund, is to uphold the rights and benefits of women. Among the seven benefits under the Social Security program that SSS offers, Maternity Benefit is solely dedicated to our female members who had undergone childbirth, or sadly, miscarriage.

What is the maternity benefit? It is a cash allowance granted only to female SSS members. To qualify, she should have paid at least three monthly contributions within the 12-month period immediately preceding the semester of her childbirth, miscarriage or emergency termination of pregnancy.

For employed members, it is a requirement that a member should notify her employer once she learned of her pregnancy. However, for self-employed, voluntary and overseas Filipino workers,

they may submit their Maternity Notifications via the My.SSS found on the SSS web site or through the SSS Mobile App. On the other hand, for employed members, the maternity notification can be submitted by their Employer through the latter’s My.SSS account in the SSS web site.

The 105-Day Expanded Maternity Leave Law implemented on March 11, 2019 provided an important milestone to all our SSS female members since the law increases the compensable number of days of maternity leave benefit from the initial 60 days for normal delivery, or 78 days for caesarian section delivery, to 105 days for live childbirth, regardless of the type of delivery, and an additional 15 days paid leave if the female worker qualifies as a solo parent. In case of a miscarriage or an emergency termination of pregnancy, the entitlement is 60 days of paid maternity leave. It also gave additional consideration to our women as it further expands maternity leave to every instance of pregnancy, miscarriage, or emergency termination of pregnancy, regardless of frequency, from the previous limit of the first four deliveries or miscarriages. ​ A female worker entitled to maternity leave benefit may, at her option, allocate up to seven days of the paid leave to the child’s father, in addition to the benefits granted to him under the Paternity Leave Act of 1996 (if applicable), whether or not he is married to the female worker.

A

seafarer’s injury during any recreational activity such as a videoke session is compensable under the “personal comfort” doctrine.

The Supreme Court utilized this legal paradigm in the recent case of John Oscares v. Magsaysay Maritime Corp. (GR 245858 December 2, 2020) in awarding disability benefits to the injured seafarer.

While the vessel was anchored in Panama, the seafarer was singing in front of a videoke machine together with another crew member when he slipped and fell out of balance.

As a result, he suffered major knee injuries.

Upon his repatriation to the Philippines, the seafarer underwent surgery followed by physical rehabilitation wherein he shouldered the cost.

When he claimed for disability benefits, the company denied liability arguing that his knee injuries are not compensable since the incident is not work related. He was not hired to sing on board so it cannot be said that his injury was incidental to his employment. His act of singing while jumping has no relation to his duties as Second Assistant Engineer. It was a purely personal and

social function.

In order for a seafarer’s injury to be compensated, it must be shown that: (1) the injury or illness must be work-related; and (2) the work-related injury or illness must have existed during the term of the seafarer’s employment contract.

A work-related injury is defined as one arising out of and in the course of employment.

In the case of Luzon Stevedoring Corp. v. WCC (193 Phil. 91), the Supreme Court held that “acts reasonably necessary to health and comfort of an employee while at work, such as satisfaction of his thirst, hunger, or other physical demands, or protecting himself from excessive cold, are incidental to the employment and injuries sustained in the performance of such acts are compensable as arising out of and in the course of employment.”

The Supreme Court awarded disability benefits to the seafarer using the “personal comfort” doctrine where acts of personal ministration for the comfort

or convenience of the employee or necessary to his physical well-being is an incident of employment.

The company argued that the personal comfort doctrine is not applicable since it only covers acts which are related to one’s personal comfort for a brief momentary period, such as using the restroom. The seafarer’s act of singing while jumping is not included, is a purely personal and social function, and is not incidental to his work.

However, the Supreme Court pointed out that the seafarer’s act of singing can be considered necessary to his health and comfort while on board the vessel.

He incurred his injury while he was performing this act.

Music plays a special role on Filipino seafarers’ life, whether at sea or on land.

It is an understatement to say that karaoke is a central part of pop culture of Filipinos, including seafarers whether on board or in between contracts.

The seafarer neither willfully injured himself nor acted with notorious negligence. Notorious negligence is defined as something more than mere or simple negligence or contributory negligence; it signifies a deliberate act of the employee to disregard his own personal safety.

Jumping while singing cannot be considered as a reckless or deliberate act that is unmindful of one’s safety.

There is nothing inherently dangerous about jumping while singing. The company did not allege that the seafarer intentionally injured himself or was negligent. He simply lost his balance.

Accordingly, the seafarer’s injury is compensable. While inside the vessel for

several months, a seafarer is exposed to extreme weather conditions and rough seas as well as physical and psychological stress due to his job, lack of sleep, heat stress, emergency works and homesickness for being away from his family.

These can have potentially disastrous consequences in terms of reduced performance as well as poor physical and mental health.

Recreation is an important consideration for the Maritime Labor Convention 2006 (MLC2006).

Each member state shall ensure that ships that fly its flag provide and maintain decent recreational facilities, amenities and services, as adapted to meet the special needs of seafarers who must live and work on ships, consistent with promoting the seafarers’ health and well-being.

Recreational facilities and services should be reviewed frequently to ensure that they are appropriate in the light of changes in the needs of seafarers resulting from technical, operational and other developments in the shipping industry.

Some of the facilities that should be included at no cost to the seafarer, where practicable are (a) sports equipment including exercise equipment, table games and deck games; (b) electronic equipment such as a radio, television, personal computer and cassette recorder/player; and (c) bars on board for seafarers.

Atty. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 0917-5025808 or 0908-8665786.

Opinion BusinessMirror

www.businessmirror.com.ph

Wednesday, March 24, 2021 A9

Motolite’s commendable The bubble has a science: Will our version float or burst? recycling program Dr. Carl E. Balita

Entrepreneurs’ Footprints

Dr. Jesus Lim Arranza

MAKE SENSE

L

ast November, just days after Typhoon Ulysses inundated various parts of Metro Manila, I wrote a column about the need to recover our creeks and rivers from encroachers, particularly because the manmade structures built on top of these water tributaries are rendering the drainage-system improvements, cleanup campaigns, and pumping stations useless.

Relative to this, I’m also calling on the private sector, concerned government agencies, and the public to support the efforts of corporations and groups to keep solid and hazardous wastes away from our bodies of water.

A perfect example of this is the automotive battery recycling initiative of Filipino company Motolite.

Consistent with its “Pangmatagalan” brand slogan, Motolite has been investing money and resources to make sure the country will have a sustainable source of lead-acid batteries. This sustainability thrust is anchored on the market leader’s used lead-acid battery collection and recycling program, which has proven to be a good model for “urban mining” in action.

Instead of letting the used batteries end up in our esteros or landfills, Motolite has devised creative ways to collect them properly.

These include partnerships with more than 200 companies via the Philippine Business for Social Progress’ Balik-Baterya and ABS-CBN Foundation’s Bantay-Baterya Programs. Motolite is paying these corporations for their used batteries, with the proceeds being donated for the social development programs of PBSP and ABS-CBN Foundation.

Among Motolite’s big corporate partners are PLDT, Inc., San Miguel Corp., Globe, Meralco, Nestle, and Energy Development Corp.

Motolite dealers and partnerretailers are also accepting used batteries directly from motorists as trade-in when they purchase new batteries. Customers get discounts of 7 percent to 9 percent in exchange for their old batteries.

Motolite is collecting an average

of 2,500 metric tons of used batteries every month, or 30,000 MT per year. This is about the same volume of solid wastes that the entire country is producing for a day. So just imagine if these used batteries are not properly collected and recycled.

Motolite then brings these used batteries to its accredited third-party recycler Evergreen Environmental Resources Inc. (EERI), which operates a world-class plant in Bulacan.

Like Motolite, EERI is a Filipino pride. This local company has received the ISO (International Organization for Standardization) 14001:2015, 9001:2015, and 50001 certifications.

EERI, with its state-of-the-art equipment and internationally certified operation, recovers 96.5 percent of a used lead-acid battery’s components. The lead and plastic components being recovered by ERRI are then transported to the Motolite manufacturing plant.

The ratio is 1:1, or one new battery is being produced for every used battery recycled.

Because of this, Motolite no longer needs to rely on miners extracting primary lead from underground mines. Its purchase of virgin plastic resins only represents about 30 percent of its requirements because these are only being used for the colored plastic casings and parts.

Now, that is sustainability in action. That is environment-friendly practice. Pangmatagalan, indeed!

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

I

F managed appropriately, social bubbles can be an effective way of extending contacts beyond the household while limiting the increase in epidemic risk. This was the conclusion of a research study on the effectiveness of social bubbles as part of a Covid-19 lockdown exit strategy led by Trystan Leng in the UK. A few researches, documented experiences and expert’s opinion have given evidence on the effectiveness of social bubble. New Zealand, Australia, Canada, Germany, USA and UK have even laid out operational policies and digital technology for it. Singapore has launched its first hotel bubble facility for non-quarantining business travelers, and along with countries like Australia are forging travel bubble only with a few countries they trust.

In the Philippines, the terms “tourism bubbles” and “international travel bubbles” were introduced since last year. But the term “bubble” became more interesting to the public when it was coined along with the “NCR Plus,” referring to Metro Manila, Bulacan, Cavite, Laguna and Rizal, placed under a “hard” general community quarantine from March 22 to April to control the surge in coronavirus cases in the country. But the question is: is the “NCR Plus bubble’s” execution plan, if any, based on the evidences available to guide it? Will it float or burst? Is the execution of our bubble benefitting from the documented successful experiences of other countries?

This writer presents available researches with their recommendations. It is always a good reminder that authorities who respond scientifically may be viewed by their community as competent and reliable. Research by Aledorf (2007) has demonstrated that interventions are only effective and feasible when the public deems them acceptable. Furthermore, we need to recognize the social, psychological, and economic cost of—and potential compliance fatigue with—complete isolation as proposed by the research of Morse (2006).

Bubble, defined

Merriam Webster defines a bubble as a small globule typically hollow and light that is hemispherical or semi-cylindrical. It is described for its lack of firmness, solidity, or reality. It is figuratively defined as a delusive or illusive scheme and as a transient short-lived phenomenon.

Ironically, Cambridge Dictionary also defines bubble as a temporary period of very successful economic performance often followed by sudden failure.

In the context of the pandemic, a “bubble” is an unofficial term used to describe the cluster of cohesive people outside your household whom you choose or nominate and with whom you feel comfortable spending exclusive time during the pandemic.

It is when you mutually commit to hanging out with certain individuals only. The bubble idea is a relatively new concept, and was not used in the management of the SARS epidemic in 2003. Bubble may also be referred to as cohort, pod, squad, or “quaranteam.” It may also be applied in other contexts.

Why a bubble?

A Bubble is a way of blending the risk of exposure to Covid-19 with our need for social interaction. In epidemiology, the aim of a bubble is to reduce risk as much as possible, but in a long pandemic we need an approach that is not just compassionate, but realistic about the modern social structure.

A bubble may foster resilience by reducing a sense of isolation for people distressed by separation. A Cornell University research states that fully quarantining non-infected, psychologically vulnerable individuals over prolonged periods can have severe mental health consequences and the strain of isolation can foster a rise in

stress, negative emotions and domestic violence. Isolation causes stress and may reduce cooperation. Compassion may improve the community’s adherence to restrictions rather than merely being forced to comply.

New Zealand was the first country to implement an extended bubble during Covid-19 pandemic, compassionately allowing people to have close contact with family members outside their household, under its “alert level 3” restrictions. NZ Prime Minister Jacinda Ardern and Australia Prime Minister Scott Morrison are known to have adopted the home and work bubble. But the bubble may also have its downside. The advantages of a compassionate approach to mental well-being must be weighed against any infection transmission disadvantages. All it takes is a few people to start spreading Covid-19 within a community, and then it rapidly spreads through families.

The science of a bubble

A research led by Per Block at Oxford School of Anthropology explored the social network-based distancing strategies to flatten the Covid-19 curve in a post-lockdown world. The research was motivate to document and propose strategies with less adverse social, psychological and economic consequences.

Adopting a social network approach, the study evaluates the effectiveness of three targeted distancing strategies designed to “keep the curve flat” and aid compliance in a post-lockdown world.

The study proposes three strategies: Strategy 1: “Seek similarity” strategy, where individuals choose their contact partners based on their individual characteristics. Generally, individuals tend to have contact with others who share common attributes, such as those in the same neighborhood (geographical), or of similar income or socio-demographic characteristics such as age.

Strategy 2: “Strengthen triadic communities” clustering strategy, where individuals must consider with whom their contact partners usually interact. A common feature of contact networks is triadic closure, referring to the fact that contact partners of an individual tend to be connected themselves. This strategy relies on a stable and established network structure of durable relations: who are members of my

Statement of Unity: Water for the people, not for profiteers!

MAIL

W

ater is a most basic need and thus access to this vital utility is a basic right for every Filipino. Especially during the global pandemic, water is crucial in maintaining health and sanitation. The people as consumers have the right to safe water, to choose their provider, to information about realizing this right, and redress so that challenges to this will be resolved.

As affirmed by the Commission on Human Rights citing United Nations General Assembly Resolution 64-292, the right to water and sanitation is essential for all human rights, including a dignified life, and to attaining the right to health, life, and an adequate standard of living. Thus, lack of access to safe, sufficient, and affordable water, including sanitation and hygiene facilities, has a devastating effect on the health, dignity, and prosperity of all living people. The CHR also reiterated that it is the State’s duty to ensure the right to water by making it available, safe, and accessible physically, economically, and socio-culturally.

On World Water Day 2021 (March 22, 2021), we Filipino consumer, water, and people’s rights groups—workers, producers, women, urban poor, youth, community advocates including indig-

enous peoples in water projects areas, local water district union representatives, government employees, professionals, small entrepreneurs, academe, environmentalists, food security campaigners and scientists, narrate the problematic state of our right to water amid the Covid-19 crisis.

We attest that water privatization has led to the violation of our right to water: The increasing privatization of water utilities has seen poorer services, prohibitive water rates, even labor rights violations. According to the Local Water Utilities Administration, of the 532 local water districts, 83 have already been privatized while many others are in the midst of various phases of joint venture, bulk water supply and metering, non-revenue water and other forms of privatization agreements. In cities or municipalities such as Davao, Bacolod, San Pablo, San Jose del Monte, Meycauayan, Malolos and others which have been taken over fully or partly by companies such as Villar’s Prime Water, Pangilinan’s Maynilad, Ayala’s Manila Water, Aboitiz’s Apo Agua, and Lucio Co’s PAMANA, consumers experienced worse water interruption, murky water, air pressure factoring in higher water tariffs, and water being channeled anew to oligarch-owned subdivisions nearby. In some cases, workers of the public water districts were arbitrarily terminated.

Worse, the privatization agreements have not been made available to consumers who are now asking to review and revoke the arrangement. Which is why consumers, employees and other affected sectors continue their protests against the privatization of water districts as well as those being planned as in Talavera and other areas.

Water consumer woes persist. One in 10 Filipinos do not have access to basic water services, and for those who have access, the richest 20 percent have 99 percent access while the poorest 20 percent have only 80 percent according to the United Nations Children’s Fund.

Water tariffs are high especially in urban poor communities where either submeters or bulk meters eat up over P1,000 per household monthly as direct connections are limited by privately-owned rights of way. Billing problems, double-charging and undeserved disconnection notices by water companies Maynilad Water Services Inc. and Manila Water Company also emerged during the pandemic, while many areas continued experiencing water supply interruption aside from those announced by the firms.

Consumers in areas serviced by private water companies continue to question the justness of tariffs. The rate-rebasing system promises corporate profit while charging consumers based on the private companies’ past and future expenses, notwithstanding uncompleted projects. There are also onerous charges.

Environmental fees have for instance been collected for years yet government sought a billion in penalties due to these firms’ unaccomplished sanitation commitments. Consumers also have to shoulder price adjustments due to foreign exchange movement.

On another note, our producers’ burdens are exacerbated by irrigation water being contaminated due to the excessive use of poisonous chemicals peddled by big agrocorporations. There are also reported cases of farmers complaining of contaminated potable water brought about by vast genetically modified corn plantations.

Water rights asserters have been attacked instead of heard, in favor of vested interests, for instance in areas with big water projects facing opposition from the indigenous and non-indigenous communities such as the Korean-funded Jalaur and China-funded Kaliwa Dams. These as well as other government-backed corporate undertakings pose threats on livelihoods and the environment: the Chico River Pump Irrigation for instance is undergoing construction without a free prior informed consent from the community, while the FPICs of the formerly mentioned projects are now under question. Known protesters have been victims of recent killings, such as in the case of the Tumandok and Dumagat, respectively, while other anti-water privatization advocates have been persecuted, such as in the case of a water system employees leader who was recently arrested based on planted evidence.

These troubles of water consumers and system employees can and must be ended by reversing the neoliberal government policy of privatizing water that has only benefited big local and foreign water corporations. In the face of long-running water issues, Maynilad and Manila Water have earned not less than P60 billion in profits for the past one and a half decade, with each earning P6.6 billion in profits in 2018. Despite water issues, government plans a universal access to water and sanitation agenda, which will again seek the support of private sector partners.

On the other hand, globally, as of 2019, the Rapid Transition Alliance reported that 100 million people across 37 countries now benefit from the termination or refusal to renew new water concessions or arrangements with private companies

and from water being back under public control. We take lessons from the evolving story of peoples taking a stand versus privatization’s profit-seeking at the expense of the right to water, and hence to health, to life, to an adequate standard of living, and to other human rights.

While it is the State’s duty to ensure the right to water especially in the time of pandemic, we, the public, vow to keep asserting this right. We will inform and build unities around the fight for our right to water. We will support legislation that seeks to probe privatization including that of local utilities, in bulk water supply projects, and through the joint venture and concession agreements; and return water from private to people’s control. We uphold the tenets of the Filipino People’s Water Code that water should be treated as a people’s resource and remain in the public domain; that the poor and marginalized sectors should be prioritized in the allocation of water resources; that ancestral domains must be given importance in the conservation of water resources; and that community management should be promoted in the conservation and development of water resources.

Finally, we will speak loudly in the face of government mechanisms that shrink civic spaces and stifle the people’s right to water voices and calls. Against policies that undermine the right to water we will support the interconnected campaigns of local water districts, indigenous people, consumers, producers, workers, environmentalists, and all rights advocates and defenders. We rise with women, ingrained across these sectors and doubly hit by the pandemic.

Our calls amid the raging pandemic: n Ensure people’s access to safe and potable drinking water;

usual “groups” (e.g., friends, family, co-workers) and which pairs of individuals among my usual contacts interacts with each other too?

Strategy 3: “Repeat contact and build micro-communities” strategy, where individuals need to consider who they want to regularly interact with and, over time, restrict interaction to those people. This reduces the number of contact partners rather than number of interactions, which is particularly important when contact is necessary for psychological well-being. This strategy of limiting contact to very few others with repeated interactions is in the spirit of a social contract with others to create micro-communities to only interact within the same group delineated by common agreement. This strategy relies on a strategic decision to form most convenient and effective “interaction bubbles” and repeat contact to them over time.

A number of concrete policy guidelines can be deduced from this network-based strategies. For example, in hospital or for essential workers, risk is minimized in sustained shifts with similar composition of employees (i.e., repeating contact) and, to distribute people into shifts based on, for example, residential proximity where possible. In workplaces and schools, staggering shifts and lessons with different start, end and break-times by discrete organizational units and classrooms will keep contact in small groups and reduce contact between them. When providing private or home care to the elderly or vulnerable, the same person should visit rather than rotating or taking turns, but that person should be the one with fewest bridging ties to other groups and who lives the closest (geographically).

These experiences and researches should lead us into asking many questions. Is our version of the bubble conducive to limiting our interaction only with similar types of people? Is it strengthening interaction within our limited communities? Is it forging repeating socially-satisfying interaction with same people? Is it going to reign the social dynamics of our people? Is it enabling free mobility of people within the fragile bubble?

Or, is the “bubble” just another term coined and added to our pandemic dictionary?

For feedback, please send e-mail to drcarlbalita@ yahoo.com.

n Aid consumers especially those rendered jobless; suspend the payment of water bills; n Ensure transparency in government plans regarding the water sector; n Stop the attacks on water- and all- rights advocates; n Promote alternative sources of water; n Democratize water management; n Stop the privatization of water resources.

Signatories: Advocates of Science and Technology for the People-National; AGHAM Educators; AGHAM Diliman; AGHAM Food Security; Alliance of Consumer Protection-Bulacan; Amihan National Federation of Peasant Women; Association of Women in Theology; Bantay Bigas (Rice Monitor); Center for Development Programs in the Cordillera; Climate Change Network for Community Initiatives; Confederation for Unity, Recognition and Advancement of Government Employees; Council for People’s Development and Governance; Defend Panay; GABRIELA; Good Clean Cart; IBON Foundation; IBON International; KalikasanPeople’s Network for the Environment; Kalipunan ng Damayang Mahirap; Kilusang Magbubukid ng Pilipinas; Kilusang Mayo Uno; Makabayan Bloc (Anakpawis Party List, Act Teachers Party List, Bayan Muna Party List, Gabriela Women’s Party List, Kabataan Party List); Matuwid na Singil sa Kuryente; Pambansang Mamalakaya ng Pilipinas; Philippine Network for Food Security Programmes; Philippine Task Force for Indigenous Rights; Samahan at Ugnayan ng mga Konsyumer para sa Ikauunlad ng Bayan; Water for the People Network; Water Systems Employees Response-Bacolod, Davao, Talavera

A10 Wednesday, March 24, 2021

‘Churches that defy IATF rules face closure’

T

HE government on Tuesday announced it is ready to shut down churches which will violate the ban in mass gatherings for the duration of the “travel bubble” in Metro Manila and its surrounding areas.

Presidential spokesman Harry Roque issued the statement in response to the pastoral instruction released by the Archdiocese of Manila, where it said it will open its churches to religious worship during the travel bubble albeit with reduced capacity and stricter health protocols.

“Within our churches, starting March 24, we will have our religious worship within 10 percent of our maximum church capacity,” Manila Apostolic Administrator Bishop Broderick Pabillo said in the pastoral instruction.

Roque said the issuance is considered a “defiance” of the InterAgency Task Force for the Management of Emerging Infectious Diseases (IATF) resolution 104, which banned mass gatherings including religious activities, in the National Capital Region, Laguna, Cavite, Rizal and Bulacan, which are collectively known as NCR plus, for the duration of the “travel bubble” from March 22 to April 4, 2021.

See “Churches,” A2

WB studies: PHL, 2 others lose $6B in ‘wasted’ plastic

M

By Jonathan L. Mayuga

@jonlmayuga

ALAYSIA, the Philippines and Thailand can gain so much from better managing plastic waste, a series of World Bank Group studies launched Tuesday reported.

Aside from combating marine pollution, country studies show that each of three Southeast Asian countries could actually unlock billions of dollars for a circular economy, specifically in recovering and recycling plastic waste.

The support for the Thailand and Malaysia studies was provided by PROBLUE, an umbrella multidonor trust fund, housed at the World Bank, that supports the sustainable and integrated development of marine and coastal resources in healthy oceans while the funding for the Philippines study was provided by the Korea Green Growth Trust Fund (KGGTF), a partnership between the World Bank Group and the Republic of Korea, which supports the mainstreaming of green

growth through the World Bank’s lending operations.

The three studies were conducted by a team from GA Circular, a research and strategy firm specializing in waste management and recycling.

The studies examine the untapped economic opportunities to promote plastic circularity and address marine debris in Malaysia, the Philippines, and Thailand.

They evaluate the plastics recycling industry and its role in supporting a circular economy and scaling up recycling efforts via targeted public and private sector interventions using a plastic value chain approach, The studies found that less than a quarter of plastics are available

for recycling in the three countries and that the rest or more than 75 percent of the material value of the plastics are lost.

This is equivalent to some $6 billion lost annually across the three countries when single-use plastics are discarded rather than recovered and recycled, representing a significant untapped business opportunity “if key market barriers can be addressed,” a World Bank Group news release stated.

“Mismanaged plastic waste across Malaysia, the Philippines, and Thailand is threatening key economic sectors such as tourism and fisheries, and impacting livelihoods and infrastructure, but there is strong government momentum in these countries to identify critical policies, and craft roadmaps to strengthen demand for all recycled plastic resins level the playing field for global and domestic companies and help drive a circular economy for plastics,” Ndiamé Diop, World Bank Country Director for Brunei, Malaysia, Philippines, and Thailand, said.

“These studies show that there is an untapped opportunity to reap environmental and economic benefits with clear and complementary interventions from the private and public sector,” he added.

See “WB,” A2

PHL CITED FOR FRONTIER TECH GAINS, BUT DIGITAL GAPS NOTED

By Lorenz S. Marasigan @lorenzmarasigan

& Cai U. Ordinario @caiordinario

T

HE Department of Information and Communications Technology (DICT) vowed to strengthen its commitment and initiatives in developing the industry, as the country was named “second over performer” in an industry report released recently by the United Nations Conference on Trade and Development (Unctad).

This, even as a separate international report flagged the inequalities that remain in countries like the Philippines as a result of the digital divide.

The Unctad report showed the Philippines was among the few developing countries that exhibited stronger capabilities to use, adopt, and adapt frontier technologies than its per capita income.

In particular, the Philippines was one of the top developing countries to have better frontier technologies such as artificial intelligence (AI), Internet of Things (IoT), big data, blockchain, 3D printing, robotics, drones, gene editing, 5G, nanotechnology and solar photovoltaics (PV).

According to the report, “the over performance of a nation is measured by the difference between the actual

index ranking and the estimated index ranking based on per capita income.”

Other countries in the top five include India, Ukraine, Vietnam and China.

“This achievement is made possible by the concerted efforts of the government, including your DICT. We are deeply elated by this achievement because it means that we are now beginning to reap the fruits of our efforts,” ICT Secretary Gregorio B. Honasan II said.

Inequality flagged

THE report also warned countries of the rise of inequality brought by a new wave of technological change, urging developing countries to work towards universal Internet access and ensure all their citizens have opportunities to learn the skills required for frontier technologies.

“We at the DICT recognize the reality of the problem presented in the report. Rest assured that we are committed in further strengthening our Digital Connectivity as well as our Digital Education, Skills and Jobs initiatives in the new normal to bridge the digital gap brought into sharper focus by the coronavirus disease 2019 or Covid-19 pandemic,” Honasan said.

Continued on A6

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, March 24, 2021

B1

DoubleDragon reschedules IPO listing of DDMP REIT

By VG Cabuag

D

@villygc

oubleDragon Properties Corp. has decided to reschedule the listing of the initial public offering (IPO) of its real estate investment trust (REIT) arm DDMP REIT Inc. hours before it was scheduled to list on the Philippine Stock Exchange (PSE).

DDMP’s listing at the PSE was scheduled on March 23 but was pushed back to March 24.

In a statement released on Monday night, Edgar Sia II, Double Dragon and DDMP chairman, said the company had to move the listing date on March 24 due to the heavy volume

of investors, mostly individual investors, who subscribed to the stock.

“Due to the heavy volume of over 50,000 total investors who subscribed to the DDMP reit IPO, the lodgement of shares has not yet been finished and would need an additional one day to complete. Due to

this, DDMP REIT Inc. will be adjusting the IPO listing date of DDMP to the following day, which will be on Wednesday, March 24,” Sia said.

“I am truly grateful for all your support. You, the retail shareholders, will always be my priority.”

The company last week extended the hours of its offer period for its IPO, which should have ended at 12 p.m. of March 16 but this was extended to 3 p.m. of the same day.

It said it needed the extension due to the system issues encountered by the PSE’s Easy Electronic Allocation System since the start of its offer period on March 10 when it saw an influx of some 15,000 subscribers.

“This extension should allow for a wider participation of LSI [local small investor] subscribers for the company’s IPO,” the company said.

DDMP shares were sold at P2.25 per share, which was at the higher band of its offer range, due to strong demand.

The company had a primary offering of 5.94 billion common shares and an over-allotment option of up to 594.24 million common shares.

The company will raise some P14.7 billion in fresh funds.

Included in the REIT are the 6 office towers with retail components developed by DoubleDragon within DD Meridian Park in Pasay.

The said offerings came from the holdings of Double Dragon, Benedict V. Yujuico and Teresita M. Yujuico.

Assuming the full exercise of the overallotment option, new investors will corner 36.67 percent of the issued and outstanding common shares of DDMP. DoubleDragon will retain a 44.33-percent interest, while Benedict and Teresita will own 9.65 percent and 9.35 percent, respectively.

The selling shareholders will receive the entire proceeds, which shall be reinvested in the Philippines, pursuant to the REIT rules.

Phoenix sets sights on asset sale

By Lenie Lectura @llectura

P

hoenixPetroleumPhilippines Inc. has secured board approval to implement its financial management program, which includes asset sale, as part of its debt management and funding activities.

“The Corporation’s Board of Directors has approved the Authority for management to enter into negotiations under reasonable and acceptable terms and conditions advantageous to the Corporation

with any third party corporation(s) or any other entity or entities for the possible transfer, sale, mortgage or disposition of certain corporate properties, assets, or investments as may be necessary and required in relation and pursuant to the financial management program,” the oil company disclosed Tuesday.

Phoenix said earlier it was open to consider any investor “willing to invest and believes in the operations of the Company and can further add value to its business activities.”

The oil firm did not say which

companies are interested. It only said that these offers are nothing new to the company. “It has been open to all investors who believe in its core business and can bring in value to its operations, finances, and to its shareholders. We see these as opportunities for growth.”

Based on the latest data from the Department of Energy on fuels market share as of the first half of 2020, Phoenix Petroleum is the third largest in the country.

From fourth in 2019, Phoenix became the country’s third-largest

oil company in terms of fuel market share last year. Petron Corp. was still the leading oil firm with 24.88 percent, followed by Pilipinas Shell Petroleum Corp. with 18.25 percent, and Phoenix with 6.86 percent.

In an independent brand health study on fuels in 2019, Phoenix was found to be third in terms of brand awareness as well as brand used most often. Phoenix was also recognized as Marketing Company of the Year at the 40th Agora Awards organized by the Philippine Marketing Association in January 2020.

Globe upgrades Boracay network to 4G

By Lorenz S. Marasigan @lorenzmarasigan

G

lobe Telecom Inc. said on Tuesday it has upgraded its network in Boracay to 4G, providing residents and tourists a “better call, text and data experience” when using its services.

Joel Agustin, the company’s SVP for program delivery, said the network upgrade in Boracay is part of the group’s efforts to increase its presence in Visayas and Mindanao.

“Making our network fully 4G LTE

in Boracay is a good start as we plan to do the same in more areas in the region. Our customers will start to notice a better mobile experience as the latest technology in mobile data becomes more accessible to them,” he said.

He added that Globe is now “fasttracking the completion of its network modernization in Pampanga and in the three remaining towns of Laguna namely, Sta. Rosa, Calamba and Cabuyao before the month ends.”

Agustin noted that Globe subscribers must upgrade their sim cards to enjoy

4G and even 5G services in some areas.

“To enjoy 4G LTE connection, we are asking our customers to upgrade their SIMS to the 5G-ready 4G LTE SIMs and use 4G LTE capable mobile devices so they can enjoy the best data experience,” he said. Globe is spending P70 billion in capital expenditures this year to further modernize its mobile and fixed line networks, as demand for Internet connectivity continues to rise due to the accelerated digitalization of the country.

The company said it has laid out a 3-pronged strategy for its network up-

grades and expansion, which includes aggressive cell site builds; upgrading its cell sites to 4G/LTE using many different frequencies; and fast tracking the fiberization of Filipino homes nationwide.

“The company likewise champions the United Nations Sustainable Development Goals, specifically UNSDG No. 9 which recognizes the importance of infrastructure and innovation as crucial drivers of economic growth and development. Globe has vowed to uphold the 10 United Nations Global Compact principles and 10 UN SDGs.”

LRMC announces Holy Week train schedule

L

ight R ail Manila Cor p.

(LRMC) said on Tuesday that it is temporarily suspending LRT-1 operations from March 31 (Holy Wednesday) to April 4 (Easter Sunday) for its annual maintenance.

LRMC said in a statement that the suspension will facilitate the necessary upgrades and continuous improvements to the LRT-1 system.

LRT-1 will continue to be operational on March 29 and 30 following its regular service hours.

“The work we will need to do on our lines is to ensure that our train system continues to perform at its best. We are doing everything we can for a better and smoother commute on the LRT-1,” said Enrico R. Benipayo, LRMC Chief Operating Officer.

For more updates and info on the LRT-1, follow LRMC on Facebook at facebook.com/officialLRT1, Twitter at @officialLRT1, or download the ikotMNL mobile app for free on Google Play and App Store.

SMC green projects worth emulating–AMTC movers

M

overs of the ‘Million Trees’ challenge on Tuesday lauded San Miguel Corp.

(SMC) President and COO Ramon S. Ang for his various initiatives to boost environmental protection and rehabilitation.

“The projects that SMC through the leadership of Mr. Ramon S. Ang are undertaking to address environmental problems are both commendatory and worth emulating,” Metropolitan Waterworks and Sewerage System (MWSS) Chairman and OIC Administrator Reynaldo V. Velasco said in a statement.

Velasco issued the statement in reaction to a report that SMC intends to plant close to 200,000 mangroves along the Bulacan coastlines as part of its flood mitigation plan.

Velasco is the prime mover of MWSS’ Annual Million Tree Challenge (AMTC) which subsequently led to the formation of the Million Trees Foundation, Inc. (MTFI), whose goal is to institutionalize the massive reforestation activities started by MWSS AMTC. SMC’s comprehensive plan also includes the cleaning, dredging, and widening of major tributaries in the Marilao-Meycauayan-Obando river system of Bulacan. Bulacan is the site of the New Manila International Airport under SMC’s Aero City franchise that is set to break ground in the second quarter of the year.

SMC’s CSR projects on environmental protection and rehabilitation range from coastal clean-up, river rehabilitation, tree-planting and reforestation.

It is undertaking the cleanup of the Tullahan-Tinajeros river system Sectors 1-3 that stretches from Manila Bay in Navotas to the Tinajeros Bridge in Malabon.

The Department of Public

Works and Highways has likewise approved the extension of dredging the river-system to include Sectors 4 and 5 that will run from Tinajeros Bridge to Potrero in Malabon and Valenzuela.

Aside from cleaning the river system of solid waste, work will include increasing the depth and widening portions of the river. Last year, no heavy flooding was reported in the flood-prone areas in Malabon and Navotas because of the dredging project of SMC resulted in more floodwaters flowing into the river.

Ang said SMC is fully committed to its advocacy of cleaning up major rivers and help with flood mitigation.

“We are making all the necessary preparations now to move into the next phase of our river cleanup and flood management initiative. We’re investing in new equipment, and hiring more people.”

SMC also intends to dredge the Pasig River as part of its proposed Pasig River Expressway project.

SMC subsidiary Luzon Clean Water Development Corp. is an active partner agency of the MWSS in the latter’s AMTC Project. The AMTC is an initiative of the MWSS Corporate Office under Velasco’s leadership. Jonathan L. Mayuga

B2

Companies BusinessMirror

Wednesday, March 24, 2021

PSE STOCK QUOTATIONS

March 23, 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 PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

42 103.4 82.6 23.05 7.64 9.42 46.2 22.9 54.8 17.02 119.4 69 1.57 3.95 0.59 3 1.33 0.37 955 0.76 144 2,300 0.97

43.5 105 83.4 23.35 8.46 9.43 46.5 23 56.7 17.5 119.8 69.9 1.63 3.98 0.62 3.14 1.46 0.4 970 0.8 144.4 2,400 1.03

43.5 102.5 82.1 23.35 8.49 9.36 45.65 23 55.2 17.5 118.2 70 1.55 3.96 0.59 3 1.45 0.42 950 0.8 145 2,498 0.97

43.5 105 83.4 23.35 8.49 9.59 46.7 23.35 56.7 17.5 120 70.3 1.65 3.98 0.59 3 1.47 0.42 950 0.8 145.9 2,498 0.97

43.5 102.5 82 23 7.54 9.36 45.65 22.9 55.2 17 118.2 69 1.55 3.95 0.59 3 1.31 0.4 950 0.8 144 2,300 0.97

43.5 105 83.4 23.05 8.46 9.43 46.2 22.9 56.7 17 119.8 69 1.57 3.98 0.59 3 1.47 0.4 950 0.8 144 2,300 0.97

1,400 2,431,680 1,073,470 33,600 500 113,600 3,649,600 881,600 480 1,500 455,930 12,460 793,000 103,000 1,000 1,000 18,000 80,000 110 7,000 3,620 240 10,000

60,900 252,921,251 89,108,536 775,800 4,143 1,070,487 168,615,025 20,278,945 26,556 25,764 54,552,403 870,027 1,260,660 408,500 590 3,000 25,970 32,200 104,500 5,600 525,264 552,990 9,700

-6,335,454 -18,227,840.50 -280,455 -369,281 -15,482,720 -13,362,750 -5,552,677 -529,290 0 -253,680 66,500 -390,376 -

INDUSTRIAL AC ENERGY 6.95 6.96 6.99 7.06 6.95 6.96 8,276,600 58,057,980 ALSONS CONS 1.26 1.27 1.23 1.26 1.22 1.26 597,000 735,280 23.9 23.95 23.9 24.05 23.5 23.95 1,508,000 35,987,465 ABOITIZ POWER BASIC ENERGY 0.74 0.75 0.7 0.75 0.7 0.74 73,373,000 53,375,910 29.65 29.9 29.9 29.9 29.5 29.9 601,900 17,946,375 FIRST GEN 69.05 69.1 70 70 69 69.05 16,790 1,159,658 FIRST PHIL HLDG MERALCO 272 277 273 279 272 272 243,900 66,873,078 14.06 14.2 14.16 14.7 14.06 14.06 1,169,400 16,536,956 MANILA WATER PETRON 3 3.01 3.05 3.05 3 3 3,780,000 11,374,000 PHX PETROLEUM 11.38 11.5 11.6 11.6 11.38 11.5 98,800 1,130,784 20.9 21 21 21 20.75 21 368,500 7,730,835 PILIPINAS SHELL SPC POWER 10.3 10.4 10.36 10.46 10.12 10.4 131,800 1,356,514 13.54 14.94 14.52 14.98 13.5 14.96 19,200 272,056 VIVANT AGRINURTURE 6.77 6.89 6.73 6.9 6.73 6.77 1,056,600 7,273,334 AXELUM 3.06 3.11 3.05 3.08 3.05 3.07 465,000 1,426,130 17.2 17.4 17.4 17.4 17.14 17.2 1,283,700 22,100,798 CENTURY FOOD DEL MONTE 8.89 9 8.85 9 8.85 9 31,200 279,295 DNL INDUS 7.3 7.34 7.29 7.4 7.25 7.3 586,000 4,292,696 10.26 10.3 10.24 10.3 10.12 10.3 618,900 6,345,278 EMPERADOR SMC FOODANDBEV 59.1 59.15 60.35 60.35 59 59.1 16,690 994,159.50 0.61 0.62 0.61 0.61 0.61 0.61 206,000 125,660 ALLIANCE SELECT FRUITAS HLDG 1.32 1.33 1.34 1.34 1.31 1.32 2,315,000 3,064,040 GINEBRA 50.4 50.95 50.95 51 50.1 50.95 15,110 770,034.50 180 181 176.1 181 176.1 181 1,108,920 197,450,801 JOLLIBEE LIBERTY FLOUR 30.3 31.5 30.15 30.3 30.15 30.3 700 21,120 MACAY HLDG 7.05 7.9 7.97 7.97 7.02 7.91 4,400 31,637 5.75 5.8 5.72 5.8 5.7 5.8 17,200 99,036 MAXS GROUP MG HLDG 0.31 0.315 0.305 0.32 0.305 0.31 4,510,000 1,408,650 6.85 7 6.62 7 6.62 7 57,700 401,007 SHAKEYS PIZZA 1.01 1.03 1.01 1.04 1.01 1.01 993,000 1,012,320 ROXAS AND CO RFM CORP 4.65 4.77 4.77 4.77 4.77 4.77 1,000 4,770 1.4 1.41 1.41 1.41 1.41 1.41 138,000 194,580 ROXAS HLDG SWIFT FOODS 0.134 0.135 0.134 0.134 0.131 0.134 3,820,000 507,860 UNIV ROBINA 122 123.4 124.8 125 121.1 122 1,385,580 169,899,063 0.79 0.8 0.79 0.8 0.79 0.79 570,000 451,330 VITARICH VICTORIAS 2.2 2.24 2.2 2.2 2.2 2.2 13,000 28,600 CONCRETE A 50.55 53.95 50.1 50.1 50.1 50.1 2,380 119,238 55.6 59.5 59 62.5 59 62.5 50 2,985 CONCRETE B CEMEX HLDG 1.12 1.13 1.12 1.14 1.1 1.12 666,000 747,740 2.51 2.52 2.53 2.65 2.38 2.51 13,694,000 33,844,800 DAVINCI CAPITAL EAGLE CEMENT 11.02 11.26 11 11.28 11 11.26 1,600 17,914 EEI CORP 7.29 7.3 7.27 7.29 7.26 7.29 44,500 323,619 5.26 5.3 5.48 5.48 5.2 5.3 915,500 4,849,715 HOLCIM MEGAWIDE 6.14 6.2 6.1 6.3 6.08 6.18 727,700 4,463,952 PHINMA 11.96 12.2 12.16 12.2 11.94 12.2 84,400 1,027,690 1.07 1.11 1.09 1.12 1.07 1.12 124,000 134,190 TKC METALS VULCAN INDL 2.08 2.09 2.01 2.16 2.01 2.09 5,754,000 12,063,190 2.04 2.07 1.97 2.08 1.91 2.08 990,000 1,940,980 CROWN ASIA EUROMED 1.98 2 1.97 2.02 1.96 1.98 41,000 81,450 MABUHAY VINYL 4.33 4.48 4.4 4.48 4.4 4.48 23,000 101,280 5.24 5.35 5.3 5.35 5.3 5.3 486,300 2,579,868 PRYCE CORP CONCEPCION 20.65 21.15 21.2 21.2 21.2 21.2 100 2,120 GREENERGY 3.8 3.85 3.82 3.92 3.75 3.85 18,110,000 69,549,120 9.87 9.89 9.8 10 9.79 9.89 173,300 1,714,852 INTEGRATED MICR IONICS 1.07 1.1 1.11 1.11 1.06 1.1 273,000 291,160 5.5 5.78 5.5 5.78 5.5 5.78 600 3,356 PANASONIC SFA SEMICON 1.28 1.3 1.26 1.31 1.26 1.3 126,000 161,950 CIRTEK HLDG 6 6.01 5.71 6 5.62 6 3,445,200 20,232,273

-3,812,548 -9,075,085 5,089,420 -5,915,395 -24,207.50 -37,798,120 -473,778 -4,906,870 3,450,790 -42,718 -12,233,386 -41,050.00 -611,848 1,210,994.00 -451,859 -1,265.50 1,802,820 -34,342 5,400 347,760 -57,200 -79,334,787 15,800 -184,820 438,370 6,758 -29,080 -1,136,189 -1,494,182 -403,836 -646,290 3,920 -1,742,980 -261,485.00 31,940 -96,040.00

HOLDING & FRIMS ABACORE CAPITAL 1.04 1.05 1.02 1.08 1.02 1.05 18,537,000 19,588,290 ASIABEST GROUP 6.82 6.88 7 7 6.81 6.88 300 2,069 725 729 734.5 744.5 722 725 424,520 308,436,015 AYALA CORP ABOITIZ EQUITY 35.65 36.7 36.25 37.2 35.65 35.65 2,861,900 103,581,715 10.5 10.52 10.26 10.56 10.2 10.5 4,601,200 48,147,108 ALLIANCE GLOBAL 2.89 2.9 2.88 2.92 2.88 2.9 695,000 2,022,880 AYALA LAND LOG ANSCOR 6.43 6.95 6.65 6.99 6.5 6.99 17,400 114,818 0.61 0.62 0.59 0.64 0.59 0.61 1,103,000 682,410 ANGLO PHIL HLDG 0.78 0.79 0.78 0.79 0.77 0.79 1,878,000 1,456,500 ATN HLDG A ATN HLDG B 0.78 0.8 0.79 0.79 0.79 0.79 140,000 110,600 5.2 5.21 5.15 5.21 5.1 5.21 630,500 3,254,700 COSCO CAPITAL DMCI HLDG 5 5.04 5 5.08 4.97 5.04 4,354,500 21,937,758 8.2 8.72 8.2 8.2 8.1 8.2 47,000 385,380 FILINVEST DEV 3.03 3.3 3 3.3 3 3.3 4,000 12,900 FJ PRINCE B GT CAPITAL 520.5 522 506.5 520.5 506.5 520.5 85,370 44,071,995 58.55 58.85 57.45 58.85 57.35 58.85 1,385,630 80,972,280.50 JG SUMMIT LODESTAR 1.04 1.05 1.1 1.11 1.02 1.05 4,936,000 5,232,390 LOPEZ HLDG 3.33 3.49 3.4 3.4 3.32 3.33 67,000 224,080 13.64 13.76 13.6 13.76 13.5 13.76 2,257,700 30,766,750 LT GROUP MABUHAY HLDG 0.465 0.485 0.46 0.46 0.46 0.46 30,000 13,800 3.77 3.78 3.77 3.81 3.75 3.78 18,658,000 70,508,430 METRO PAC INV 3.55 3.79 3.55 3.55 3.55 3.55 16,000 56,800 PACIFICA HLDG PRIME MEDIA 3.03 3.05 3.01 3.23 2.95 3.03 16,394,000 50,465,480 1.24 1.25 1.25 1.26 1.25 1.25 69,000 86,260 SOLID GROUP SM INVESTMENTS 963 964.5 952 967.5 952 963 298,060 286,377,905 SAN MIGUEL CORP 118 122 119.4 122 117 122 170,940 20,638,784 0.68 0.7 0.68 0.71 0.68 0.71 52,000 36,740 SOC RESOURCES TOP FRONTIER 136.1 143 141.9 143 141.9 143 2,200 312,510 0.24 0.245 0.245 0.245 0.245 0.245 50,000 12,250 WELLEX INDUS ZEUS HLDG 0.198 0.2 0.191 0.205 0.191 0.2 970,000 189,880

-182,550 681 -113,220,760 -30,446,125 6,117,892 -2,900 206,430 23,700 -171,149 -4,741,127 -172,180 17,332,440 -491,144.50 126,950 -137,260 -13,792,456 -49,105,810 -34,030 -187,315,630 2,617,708 -

PROPERTY ARTHALAND CORP 0.62 0.63 0.62 0.64 0.6 0.63 1,002,000 611,200 ANCHOR LAND 7.3 7.79 7.8 7.8 7.3 7.3 400 3,019 34.3 34.5 33.85 34.7 33.85 34.3 8,205,700 282,227,555 AYALA LAND AREIT RT 32.65 32.8 32.5 33 32.4 32.8 418,900 13,628,715 BELLE CORP 1.42 1.44 1.43 1.43 1.42 1.42 97,000 138,470 0.86 0.88 0.82 0.88 0.82 0.88 1,625,000 1,383,270 A BROWN CITYLAND DEVT 0.78 0.79 0.79 0.8 0.77 0.79 252,000 197,960 0.132 0.133 0.134 0.135 0.131 0.132 930,000 123,550 CROWN EQUITIES CEBU HLDG 6.3 6.78 6.34 6.34 6.34 6.34 6,000 38,040 CEB LANDMASTERS 5.43 5.46 5.44 5.55 5.4 5.43 623,700 3,410,781 0.385 0.395 0.385 0.4 0.385 0.385 6,010,000 2,318,250 CENTURY PROP CYBER BAY 0.32 0.33 0.32 0.325 0.32 0.325 400,000 128,900 DOUBLEDRAGON 14.26 14.28 14.38 14.56 14.08 14.28 2,253,700 32,294,840 6.67 6.9 6.68 6.9 6.66 6.8 93,300 629,412 DM WENCESLAO EMPIRE EAST 0.28 0.285 0.275 0.285 0.275 0.285 630,000 175,700 0.088 0.091 0.088 0.091 0.088 0.091 370,000 32,590 EVER GOTESCO FILINVEST LAND 1.11 1.12 1.11 1.13 1.11 1.11 8,761,000 9,757,520 GLOBAL ESTATE 0.86 0.89 0.94 0.94 0.87 0.89 36,000 32,340 7.12 7.2 7.28 7.28 7.2 7.2 2,300 16,576 8990 HLDG PHIL INFRADEV 1.32 1.34 1.3 1.38 1.3 1.34 1,839,000 2,437,620 CITY AND LAND 1.32 1.33 1.28 1.38 1.24 1.32 6,207,000 8,174,850 3.47 3.5 3.37 3.51 3.37 3.5 9,605,000 33,480,310 MEGAWORLD MRC ALLIED 0.355 0.36 0.35 0.37 0.35 0.36 20,020,000 7,249,650 0.44 0.45 0.4 0.45 0.4 0.45 4,970,000 2,174,900 PHIL ESTATES PRIMEX CORP 1.78 1.79 1.93 2.18 1.76 1.78 30,975,000 61,692,890 ROBINSONS LAND 17.78 17.8 17.7 18.02 17.7 17.8 901,800 16,072,912 0.247 0.255 0.255 0.255 0.255 0.255 310,000 79,050 PHIL REALTY ROCKWELL 1.43 1.46 1.4 1.46 1.4 1.45 169,000 243,280 SHANG PROP 2.68 2.7 2.68 2.68 2.68 2.68 390,000 1,045,200 2.28 2.34 2.32 2.35 2.3 2.34 424,000 986,990 STA LUCIA LAND SM PRIME HLDG 34.65 34.75 34.1 34.75 33.9 34.75 5,182,900 179,176,505 3.81 3.96 3.85 3.96 3.85 3.96 8,000 31,230 VISTAMALLS SUNTRUST HOME 1.5 1.53 1.51 1.53 1.5 1.53 87,000 131,850 PTFC REDEV CORP 34.5 59.95 31 31 31 31 900 27,900 3.73 3.75 3.75 3.8 3.72 3.75 1,399,000 5,244,760 VISTA LAND

-46,676,355 -3,052,195 -87,150 15,370 61,570 -28,140 112,140 42,350 -6,397,968 -1,668,380 593,910 8,830,800 154,800 2,133,290 -6,399,304 -101,020 1,034,480 -103,170 -21,220 -1,704,190

SERVICES ABS CBN 10.9 11 11 11 10.8 11 27,100 296,410 GMA NETWORK 7.32 7.35 7.33 7.37 7.25 7.35 1,369,500 10,048,947 0.425 0.44 0.425 0.435 0.425 0.435 30,000 12,850 MANILA BULLETIN GLOBE TELECOM 1,912 1,922 1,932 1,932 1,909 1,912 36,025 69,105,035 PLDT 1,226 1,236 1,220 1,257 1,216 1,226 113,495 139,910,565 0.197 0.198 0.184 0.197 0.183 0.197 1,303,650,000 251,242,890 APOLLO GLOBAL CONVERGE 19 19.04 19 19.18 18.74 19.04 9,074,000 172,652,736 3.65 3.69 3.64 3.72 3.64 3.65 67,000 246,100 DFNN INC DITO CME HLDG 9.84 9.85 9.8 10.16 9.6 9.84 24,731,400 246,066,892 IMPERIAL 1.66 1.77 1.63 1.81 1.63 1.77 181,000 315,960 1.97 2.04 2.06 2.06 2.06 2.06 5,000 10,300 JACKSTONES NOW CORP 2.49 2.5 2.46 2.6 2.45 2.5 1,734,000 4,364,460 TRANSPACIFIC BR 0.42 0.425 0.415 0.44 0.415 0.42 10,260,000 4,330,000 2.7 2.72 2.68 2.77 2.68 2.7 319,000 868,660 PHILWEB 2GO GROUP 8.5 8.64 8.8 8.8 8.4 8.5 876,700 7,506,131 3.32 3.33 3.37 3.37 3.3 3.33 1,120,000 3,722,020 CHELSEA CEBU AIR 44.25 44.6 44.7 44.7 44 44.25 123,100 5,441,795 INTL CONTAINER 123.4 123.7 123.7 124.9 123 123.4 723,780 89,431,837 16.2 16.98 17 17 16.54 16.98 6,300 104,794 LBC EXPRESS LORENZO SHIPPNG 0.94 1.04 0.93 1.04 0.93 1.04 51,000 49,340 MACROASIA 4.6 4.64 4.55 4.8 4.55 4.6 1,299,000 6,051,850 2.35 2.4 2.27 2.44 2.27 2.4 371,000 868,720 METROALLIANCE A METROALLIANCE B 2.26 2.39 2.35 2.4 2.35 2.4 5,000 11,950 5.9 5.95 6 6 5.9 5.9 3,400 20,197 PAL HLDG HARBOR STAR 1.12 1.13 1.14 1.16 1.1 1.13 378,000 425,840 ACESITE HOTEL 1.45 1.5 1.46 1.5 1.46 1.5 110,000 164,640 0.081 0.082 0.086 0.089 0.08 0.081 363,560,000 30,596,760 BOULEVARD HLDG DISCOVERY WORLD 4.4 4.47 4.5 4.5 4.4 4.41 42,000 186,280 WATERFRONT 0.53 0.54 0.55 0.57 0.54 0.54 3,412,000 1,864,420 580 600 590 590 590 590 20 11,800 FAR EASTERN U IPEOPLE 6.99 7.89 7.11 7.11 6.97 6.97 700 4,921 0.365 0.37 0.365 0.37 0.365 0.365 880,000 323,050 STI HLDG BLOOMBERRY 6.77 6.85 6.9 6.9 6.7 6.85 2,872,800 19,508,114 PACIFIC ONLINE 1.93 2.11 1.9 1.94 1.9 1.94 12,000 23,160 1.71 1.74 1.66 1.74 1.66 1.71 16,000 27,490 LEISURE AND RES MANILA JOCKEY 2.08 2.1 2.08 2.08 2.08 2.08 7,000 14,560 PH RESORTS GRP 2 2.01 1.99 2.05 1.96 2.01 2,866,000 5,757,410 0.385 0.39 0.38 0.385 0.38 0.385 460,000 176,800 PREMIUM LEISURE PHIL RACING 6.05 6.15 6.1 6.1 6.1 6.1 1,000 6,100 7.61 7.64 7.5 7.71 7.5 7.61 245,200 1,867,547 ALLHOME METRO RETAIL 1.26 1.27 1.25 1.28 1.24 1.26 771,000 974,340 PUREGOLD 40 40.05 38.9 40 38.85 40 7,175,100 283,723,140 54 54.75 53 54.75 52.8 54.75 566,970 30,614,170 ROBINSONS RTL PHIL SEVEN CORP 90 93 91 92 91 91 138,840 12,634,590 SSI GROUP 1.2 1.21 1.18 1.2 1.16 1.2 1,030,000 1,219,670 17.3 17.7 17.98 17.98 17.28 17.3 664,900 11,593,032 WILCON DEPOT APC GROUP 0.39 0.41 0.405 0.41 0.39 0.41 460,000 184,700 6.65 6.67 6.68 6.89 6.67 6.67 107,900 727,138 EASYCALL IPM HLDG 4.95 5 5 5 5 5 2,000 10,000 PRMIERE HORIZON 2.03 2.04 2.01 2.08 1.98 2.03 34,415,000 69,787,130

-19,053,195 -32,736,950 2,818,580 29,372,570 40,920 5,346,174 101,950 -21,500 -67,750 3,400 336,525 -38,798,974 374,350 -84,890.00 331,200 4,410 -8,250 18,250 -6,236,482 19,320 40,000 -903,712 -748,040 -10,128,750 2,070,078 -13,660 63,040 -4,645,964 4,000 -484 1,389,350

MINING & OIL ATOK 7.99 8 7.51 8.3 7.51 8 863,700 6,998,700 128,750.00 1.41 1.43 1.43 1.43 1.41 1.41 524,000 740,590 -24,310 APEX MINING ATLAS MINING 6.31 6.34 6.35 6.36 6.31 6.31 489,200 3,101,612 4,424 2.42 2.79 2.26 2.79 2.26 2.79 82,000 186,370 BENGUET A BENGUET B 2.39 3 2.39 2.39 2.39 2.39 17,000 40,630 COAL ASIA HLDG 0.28 0.29 0.28 0.28 0.28 0.28 80,000 22,400 2.68 2.7 2.66 2.7 2.65 2.7 46,000 123,620 118,300 CENTURY PEAK DIZON MINES 8.78 9.6 9.68 9.68 9.68 9.68 200 1,936 FERRONICKEL 2.3 2.31 2.35 2.35 2.3 2.3 1,595,000 3,684,870 291,640 0.32 0.325 0.32 0.34 0.31 0.32 980,000 319,450 GEOGRACE LEPANTO A 0.13 0.131 0.129 0.131 0.129 0.131 1,710,000 221,020 0.132 0.139 0.138 0.139 0.138 0.138 110,000 15,190 LEPANTO B MANILA MINING A 0.0097 0.0099 0.0096 0.0099 0.0096 0.0097 52,000,000 506,700 MANILA MINING B 0.0096 0.01 0.01 0.01 0.01 0.01 2,000,000 20,000 1.17 1.2 1.15 1.2 1.15 1.2 523,000 619,720 66,700.00 MARCVENTURES NIHAO 1.8 1.85 1.72 1.89 1.6 1.73 103,000 179,030 3,440 NICKEL ASIA 5 5.02 5.11 5.11 4.99 5 7,167,100 36,032,127 -3,844,156 0.83 0.87 0.81 0.88 0.81 0.87 1,108,000 942,990 -38,570 ORNTL PENINSULA PX MINING 4.63 4.71 4.61 4.74 4.6 4.63 1,324,000 6,130,130 -526,800 11.78 11.8 11.76 11.84 11.76 11.78 3,755,900 44,276,418 -13,734,734 SEMIRARA MINING 0.0072 0.0079 0.0079 0.0079 0.0074 0.0078 18,000,000 138,200 31,900 UNITED PARAGON ACE ENEXOR 22.25 22.65 22.2 22.9 22 22.65 220,300 4,924,890 112,540 0.01 0.011 0.01 0.011 0.01 0.011 24,600,000 255,400 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 1,400,000 15,400 PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.012 24,100,000 268,600 96,800 8.57 8.58 8.38 8.79 8.38 8.57 43,500 371,550 -2,068 PXP ENERGY

PREFFERED HOUSE PREF B 100.2 101 101 101 100.2 100.2 980 98,580 HOUSE PREF A 101 101.5 100.5 100.5 100.5 100.5 2,000 201,000 519 529 519 519 519 519 2,300 1,193,700 AC PREF B1 AC PREF B2R 515 521.5 515 515 515 515 200 103,000 CPG PREF A 102 103.5 102 103.5 102 103.5 10,710 1,092,720 101.7 102.1 102 102 102 102 1,000 102,000 DD PREF GTCAP PREF A 1,004 1,020 1,020 1,020 1,020 1,020 60 61,200 1,030 1,041 1,041 1,041 1,030 1,030 6,040 6,273,700 GTCAP PREF B MWIDE PREF 99.8 100 100 100 99.7 100 37,310 3,726,873 29,955 MWIDE PREF 2B 100.5 100.9 100 100 100 100 3,590 359,000 104 106.6 105 106.7 100 106 20,250 2,052,981 30,720 PNX PREF 3B PNX PREF 4 1,002 1,008 1,005 1,005 1,000 1,000 7,400 7,414,875 100,160 PCOR PREF 2B 1,010 1,011 1,011 1,011 1,011 1,011 300 303,300 1,100 1,119 1,070 1,119 1,070 1,118 155 170,895 PCOR PREF 3A PCOR PREF 3B 1,125 1,140 1,140 1,140 1,140 1,140 20 22,800 77.8 77.85 78.1 78.1 77.7 77.8 37,630 2,926,502 400,500 SMC PREF 2C SMC PREF 2E 75.85 75.9 75.9 75.9 75.9 75.9 94,800 7,195,320 SMC PREF 2H 76.5 76.8 77 77 76.8 76.8 129,250 9,934,900 78 78.95 78.95 78.95 78.95 78.95 14,360 1,133,722 SMC PREF 2I SMC PREF 2J 76.3 76.8 76.25 76.25 76.25 76.25 9,600 732,000 SMC PREF 2K 75.6 76 76.25 76.25 75.5 75.5 27,400 2,077,600 -

PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 6.95 6.99 6.9 6.99 6.9 6.99 373,100 2,606,973 -2,496,129

WARRANTS LR WARRANT 1.94 1.95 1.86 2.06 1.8 1.94 4,623,000 9,100,160 82,650

SMALL & MEDIUM ENTERPRISES ALTUS PROP 18.9 19.4 18.82 19.58 18.7 19.4 289,500 5,508,928 381,360 ITALPINAS 2.36 2.37 2.45 2.45 2.34 2.36 363,000 858,470 99,280 5.1 5.2 5.05 5.2 5.03 5.2 5,400 27,290 KEPWEALTH MAKATI FINANCE 2.53 2.6 2.54 2.54 2.54 2.54 2,000 5,080 5.04 5.05 4.75 5.04 4.75 5.04 12,550,000 62,054,030 -2,565,990 MERRYMART

EXHANGE TRADE FUNDS

FIRST METRO ETF 97.6 98.5 96.9 98.3 96.9 97.6 22,360 2,184,590 58,870

www.businessmirror.com.ph

PHL tells investors to place bet on liquefied natural gas

T

By Lenie Lectura

@llectura

he Department of Energy (DOE) told industry leaders that the country’s liquefied natural gas (LNG) sector is now ripe for investment.

Speaking before the 2nd LNG and Clean Energy Investment Summit, Energy Assistant Secretary Leonido J. Pulido III urged investors to take a look at the many LNG investment opportunities in the Philippines.

Pulido, who supervises the Natural Gas Management Division of the Oil Industry Management Bureau (NGMD-OIMB), said the agency is fast-tracking the development of the LNG industry and that it is now ripe for investment.

He presented an overview of the LNG Investment in the Philippines

during the summit.

He said the Philippine natural gas sector essentially is all about the Malampaya Gas Power Project in the West Philippine Sea, which is being run by a consortium composed of Shell, Chevron, and the Philippine National Oil Company-Exploration Corp. (PNOC-EC).

He pointed out that natural gas currently provides for 3,200 megawatts of electricity and accounts for 21.1 percent in the 2019 Gross Generation of the country. But in Luzon alone, natural gas’ contribution last

year was at 29.3 percent.

“With Malampaya’s depletion estimated to occur in the next few years, there is an urgent need to attract more investments in the downstream LNG industry,” Pulido said.

As such, the DOE has approved the permits of 5 proposed LNG Regasification Terminal Projects targeted for operation from 2022 to 2025. These include 3 proponents, namely Excelerate Energy L.P., Batangas Clean Energy Inc., and Atlantic Gulf & Pacific Company of Manila, Inc. which were issued with a Notice to Proceed (NTP); and 2 proponents, namely FGEN LNG Corp. and Energy World Gas Operations Philippines Inc. both issued with Permit to Construct.

“The timely implementation of these proposed LNG projects shall facilitate for the entry of LNG in the country. We will also be attaining energy security for natural gas not only for power generation requirements, but also for other potential applications of natural gas in industrial,

commercial, residential and transport sectors,” Pulido said.

He added that the Department Circular otherwise known as the “Rules and Regulations of the Philippine Downstream Natural Gas Industry,” together with Executive Order 30 on Energy Projects of National Significance and Republic Act 11032 or the Ease of Doing Business Act, have provided for the regulatory framework that is conducive to the entry of potential LNG proponents from private sector to assist the government in developing the natural gas industry in the country.

The DOE has been promoting the Philippines as a Liquefied Natural Gas hub that will ultimately serve not only the country’s energy needs, but also that of the Southeast Asian region as envisioned by Energy Secretary Alfonso G. Cusi.

The DOE official also called on the support of the participants who, he said, convened to address a common goal: expansion of the LNG and clean energy industries in the Philippines.

Curfew, limited access back in Subic Freeport

By Henry Empeño Correspondent

S

ubic Bay Freeport—Curfew hours and other restrictions on entry and mobility were reimposed in this special economic zone by the Subic Bay Metropolitan Authority (SBMA) on Monday to help curb the resurgence of Covid-19 infections.

The curfew hours here will be from 12 midnight to 5:00 a.m. effective March 22 until April 4, said SBMA Chairman and Administrator Wilma T. Eisma.

She said the SBMA also determined that persons from the socalled “NCR Plus bubble” will be allowed into Subic only for business purposes, and should show email confirmation of appointment in the Freeport.

The NCR Plus bubble includes the National Capital Region and the 4 neighboring provinces of Bulacan, Rizal, Laguna, and Cavite.

“Those from NCR Plus who would stay in Subic for more than 24 hours will be required to show negative RTPCR test results with a validity of 24 hours, while persons from MGCQ [modified general community quarantine] areas who would stay here for 4 days and 3 nights or beyond will also be required to undergo RT-PCR test,” Eisma said.

Under the curfew guidelines, meanwhile, personnel travelling to and from work in the Freeport would

be required to show SBMA-issued gate passes and company ID cards to be allowed movement in the zone.

Cargo deliveries will be unimpeded at all times in Subic, although their crew would be required to strictly observe health safety protocols like wearing of face mask and face shield, Eisma said. She said SBMA would strictly enforce restrictions set by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) under Resolution No. 96 that those below 15 years and over 65 years of age, as well as those pregnant or with comorbidities, will not be allowed outside of their residences except for food, work, or exercise.

The SBMA also barred children below 3 years old from Subic beaches, prohibited consumption of alcoholic drinks in public areas, and temporarily banned picnics at public spaces like the Waterfront, Boardwalk Park, Malawaan Park, and the San Bernardino Road.

Last Sunday, Eisma reminded Subic stakeholders to stay home and suspend non-essential travel in view of the “alarming resurgence of the Covid-19 virus and the growing number of new positive cases in the country.”

“While the Subic Bay Freeport Zones remains to be one of the urban communities in the country with the least number of cases, we have to take more pro-active measures to protect

Jollibee to give free jabs to employees

F

ast-food giant Jollibee Foods Corp. on Tuesday said it is vaccinating all of its employees and their families in the country, following a similar announcement from other firms.

In a statement, Jollibee Group founder and Chairman Tony Tan Caktiong said the company has set up a vaccination program that provides free vaccines for all its employees in the Philippines. The company is also sourcing vaccines for its employees’ dependents and extended family and household members. “Our employees’ safety and well-being has always been paramount,” Tan said.

The vaccination program covers employees from its fast-food chains: Jollibee, Chowking, Mang Inasal, Greenwich, Burger King, Red Ribbon, Panda Express, Pho24, commissaries, distribution centers, support func-

tions and the Jollibee Group Foundation, the company said.

Communication efforts like a series of webinars on vaccine education have been started to help employees make informed decisions on their health.

Jollibee said its vaccination program will be implemented following the guidelines from the Inter-Agency Task Force and the Department of Health in support of the country’s national vaccine program.

“Once the vaccines are available, the company will coordinate with local government units to optimize the available supply of vaccines.”

Jollibee earlier said it spent some P7 billion to transform its global business structure amid the pandemic, focusing on food deliveries, drive-thru on its stores, while rationalizing its network of stores and supply chain facilities and management staff. VG Cabuag

ourselves, our family, our livelihood, and the bigger community we live in.

We cannot afford another lockdown, so we must do all we can to prevent it.”

Since the pandemic, the SBMA had recorded 50 confirmed Covid-19 cases among Freeport residents, 32 among guests and transient workers, and 30 among SBMA employees,

mutual funds

with just six active cases in the three groups as the moment.

Neighboring Olongapo City, meanwhile, has recorded 1,094 confirmed cases, with 23 active cases as of Monday, while Zambales has posted 1,100 confirmed cases, with 21 new positive cases recorded on Monday.

March 23, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 205.17 15.24% -9.51% -4.35% -9.7% ATRAM Alpha Opportunity Fund, Inc. -a 1.2378 51.21% -8.11% 1% -5.73% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8081 28.17% -13.68% -6.55% -10.37% Climbs Share Capital Equity Investment Fund Corp. -a 0.7259 29.44% -8.86% n.a.

-9.7% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6515 12.99% n.a. n.a. -12.15% First Metro Save and Learn Equity Fund,Inc. -a 4.4997 28.06% -7.35% -2.96% -8.94% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6497 19.52% -11.22% -7.9% -14.49% MBG Equity Investment Fund, Inc. -a 95.67 47.43% -5.65% n.a.

-6.15% PAMI Equity Index Fund, Inc. -a 42.0992 19.91% -7.46% -3.09% -10.14% Philam Strategic Growth Fund, Inc. -a 441.29 16.02% -7.33% -3.56% -9.75% Philequity Alpha One Fund, Inc. -a,d,5 0.9997 37.98% n.a. n.a.

-8.89% Philequity Dividend Yield Fund, Inc. -a 1.0687 28.17% -7.16% -2.51% -8.52% Philequity Fund, Inc. -a 31.6044 29.18% -7.14% -2.06% -9.1% Philequity MSCI Philippine Index Fund, Inc. -a 0.8173 30.39% n.a. n.a. -10.48% Philequity PSE Index Fund Inc. -a 4.3107 33.39% -7.18% -2.4% -10.03% Philippine Stock Index Fund Corp. -a 720.83 33.95% -7.09% -2.54% -10.08% Soldivo Strategic Growth Fund, Inc. -a 0.6509 27.38% -10.92% -5.99% -9.46% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2626 26.47% -9.16% -3.89% -9.97% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8241 33.33% -7.42% -2.65% -10.2% United Fund, Inc. -a 3.0334 30.24% -6.29% -1.35% -8.61% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 96.7201 34.14% -6.87% -1.87% -10.07% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2724 64.07% 3.63% 8.71% 5.78% Sun Life Prosperity World Voyager Fund, Inc. -a $1.6851 63.44% 9.07% n.a.

0.74% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6143 18.05% -3.24% -1.61% -3.25% ATRAM Philippine Balanced Fund, Inc. -a 2.1299 18.37% -3.57% -0.95% -6.8% First Metro Save and Learn Balanced Fund Inc. -a 2.4654 15.59% -2.79% -1.59% -6.15% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1853 12.51% n.a. n.a. -6.7% NCM Mutual Fund of the Phils., Inc. -a 1.8791 11.7% -0.78% 0.35% -4.32% PAMI Horizon Fund, Inc. -a 3.5064 11.45% -2.13% -0.94% -7.44% Philam Fund, Inc. -a 15.7302 11.12% -2.04% -0.92% -7.12% -5.84% Solidaritas Fund, Inc. -a 1.9717 10% -3.16% -0.83% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3315 15.79% -4.69% -2.09% -6.76% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9344 17.22% n.a. n.a.

-8.63% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8542 25.93% n.a. n.a. -10.01% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8376 27.39% n.a. n.a. -10.23% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8206 20.8% -5.66% -2.74% -7.56% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03787 4.53% 2.35% 1.27% -3.2% PAMI Asia Balanced Fund, Inc. -b $1.1331 25.52% 1.66% 4.92% -1.49% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5278 44.98% 6.81% 8.17% 0.33% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1828 25.16% 3.34% n.a.

-1.61% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 369.76 2.57% 3.08% 2.56% -0.35% ATRAM Corporate Bond Fund, Inc. - a 1.9066 -0.41% 0.75% 0.27% 0.33% Cocolife Fixed Income Fund, Inc. -a 3.2164 2.33% 4.12% 4.55% 0.05% Ekklesia Mutual Fund Inc. -a 2.2393 0.24% 2.06% 1.6% -2.47% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4196 2.94% 3% 1.71% -1.37% Philam Bond Fund, Inc. -a 4.4347 1.81% 3.71% 1.9% -4.31% Philam Managed Income Fund, Inc. -a,6 1.3134 4.97% 4.16% 2.56% -0.59% Philequity Peso Bond Fund, Inc. -a 3.9428 4.65% 4.13% 2.51% -1.46% Soldivo Bond Fund, Inc. -a 1.0155 7.11% 3.82% 1.81% -2.54% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1563 3.29% 4.49% 2.73% -1.55% Sun Life Prosperity GS Fund, Inc. -a 1.7217 1.97% 3.74% 2.07% -1.9% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $481.67 2.4% 2.88% 2.43% -0.45% ALFM Euro Bond Fund, Inc. -a Є219.38 0.73% 1.09% 1.2% 0.09% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1848 11.63% 1.96% 1.33% -7.47% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 5.74% 1.33% 0.96% -3.01% PAMI Global Bond Fund, Inc -b $1.0508 -0.53% 0.2% -0.57% -3.83% Philam Dollar Bond Fund, Inc. -a $2.4588 4.55% 4.03% 2.21% -3.03% Philequity Dollar Income Fund Inc. -a $0.0624589 5.12% 3.2% 2.21% 0.23% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.0957 4.07% 1.77% 0.92% -3.97% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.81 2.5% 3.2% 2.51% 0% First Metro Save and Learn Money Market Fund, Inc. -a 1.0495 1.59% n.a. n.a.

0.13% Sun Life Prosperity Money Market Fund, Inc. -a 1.3004 2.14% 2.91% 2.59% 0.29% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.055 1.51% 1.76% n.a.

0.25% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.1886 n.a. n.a. n.a. 5.22% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.98 8.89% n.a. n.a.

0%

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

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

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

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

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

www.businessmirror.com.ph

Banking&Finance BusinessMirror

SSS death benefit claims dip in 2020 due to CQs

S

TATE-RUN Social Security System (SSS) disbursed P54.65 billion in 2020 for death benefit claims under the social security fund, a 2.3-percent dip from the P55.93 billion claimed in 2019.

SSS President and CEO Aurora C. Ignacio said in a statement issued on Tuesday that the decrease in releases for death claims was due the mobility restrictions after government imposed lockdown measures to contain the spread of the coronavirus disease of 2019.

There were also fewer members who benefited from disbursements for death benefit claims last year at 1.05 million from 1.06 million in 2019.

“Considering that filing of death benefit claims is still being done thru the drop-box system, branch appointment, or through number coding system, the number of benefit claims received and processed were also affected. Our employees are also on an Alternative Working Arrangements (AWA)—in compliance with Civil Service Commission (CSC) guidelines which means only 50 percent to 70 percent of our personnel works in the office permanently,” Ignacio said.

In previous years, death benefit disbursements in 2016 reached P38.36 billion to 797,337 members; P52.29 billion to 0.95 million members in 2017; and, P53.38 billion to 1.01 million members in 2018.

SSS grants death benefit cash allowance to beneficiaries of a deceased member, either as a monthly pension or lump sum amount. A monthly pension is given to pri-

mary beneficiaries of the deceased member who has paid at least 36 monthly contributions before the semester of death. They are also entitled to a 13th month pension payable every December and an additional P1,000 benefit on top of the monthly pension. However, a one-time lump sum amount is given to the beneficiaries of a deceased member who has paid less than 36 monthly contributions before the semester of death.

Meanwhile, SSS said death benefit payments under the Employees Compensation (EC) Fund dropped by 7 percent to P1.05 billion in 2020 from P1.13 billion in 2019.

The number of members who benefited from death benefit payments under the EC Fund slightly declined to 16,252 last year from 16,264 members in the previous year.

Prior to the pandemic, there was an annual increase in death benefit disbursements under the EC Fund since 2016.

The agency released P848.76 million to 13,929 members in 2016; P851.19 million to 15,971 members in 2017; and, P1.34 billion in 2018 to 16,366 members in 2018.

“Already in the pipeline is the opening of online applications for Disability and Death claims as part of our digitalization campaign,” Ignacio said.

She added the digital services program aims to provide SSS members and pensioners with “simpler, faster and more convenient” means for registration, filing of benefit and loan applications and other transactions.

Bernadette D. Nicolas

The penalty of an online education

I

am no expert in deciding if schools can resume the traditional classroom education—as it is already being done in a number of countries—or to maintain our current virtual classroom system.

However, having taught in physical classrooms for more than 30 years (at the tertiary level in De La Salle University, University of the Philippines-Diliman, Far Eastern University, Pamantasan ng Lungsod ng Manila and more recently online at Don Bosco Technical College), I can definitely see the difference.

While one can always argue that with a virtual session you have a number of advantages like no travel time, companies and the executives making the hiring decision have never equated an online degree with a regular one; now, I fully understand why. It is the lack of interaction and feedback both from the faculty and students, which limits the educational process.

Getting good faculty is difficult enough but to get good ones that can teach in a virtual environment is next to impossible. Great speakers are able to deliver moving speeches and great lectures when they can see how attentive and supportive their audience is. A live performer is able to feed on the charged energy of thousands of their adoring and cheering fans. Do you think a speaker will be able to do a better job alone in a room talking to himself in the mirror? Do you think performing artists will be able to do their best if they cannot see or hear their fans inside a sound proof box?

Teachers are pretty much in the same boat when they do a synchronous session with their students who do not even have their video on. How is the teacher supposed to know if their students understand the lecture, if they are paying attention or are they even there? Good professors need to get feedback from their students so he knows if he should elaborate further, provide an example or even call out one of the students to explain.

Students are no better off either.

With our poor and costly Internet infrastructure, attending a virtual classroom is a challenge for most students. They are plagued by dead spots, inconsistent connectivity,

Finex free enterprise George S. Chua slow Internet speeds and limited familiarity with and ownership of the proper equipment such as desktop and laptop computers, tablets and smart phones. How can most students even afford the right equipment and internet connection when their parents are out of a job?

Students are unable to have a meaningful interaction with the professor because they do not even have enough bandwidth to turn on their video so the professor can see their reactions like having a dazed look, disinterest or raising their hand to ask a question. Students are also unable to interact with their fellow students during class and are put in a situation where they are hesitant or even embarrassed to ask questions for clarification, since they too do not know if their fellow classmates are having the same difficulty in understanding the lecture.

This lack of social interaction and socialization stunts the emotional growth of the students. Young people go to school to meet different types of people, learn how to deal with them and get exposed to the real world.

Similarly, this also stunts the professional growth of the faculty who are not able to finesse how to interact with their class and provide the appropriate adjustments and stimulus in their teaching style and content to maximize the learning experience of their students.

It is understandable that the government is trying to prevent the spread of Covid-19 to students to save their lives. However, we should also temper this with the question, what kind of life will our students have if they do not get the proper education they deserve? I guess we all know the answer to that question.

Former Finex President George S. Chua is president of Kimberly Realty Corp. Comments may be sent to georgechuaph@yahoo.com.

Wednesday, March 24, 2021 B3

Govt raises ₧30B from sale of reissued Treasury bonds

D

By Bernadette D. Nicolas

@BNicolasBM

ESPITE the spike in average rates, the Bureau of the Treasury (BTr) continued to borrow from the local debt market by fully awarding P30-billion in reissued 10-year Treasury Bonds (T-bonds).

With a remaining term of 9 years and 3 months, the reissued debt papers fetched a higher average rate of 4.614 percent, up by 154.8 basis points from 3.066 percent in the previous auction in February this year.

National Treasurer Rosalia V. De Leon told reporters the rates of the government-backed securities are “aligned with market pricing”

based on the Bloomberg Valuation Service rate.

De Leon said they need to offer longer-term securities “to provide [a] benchmark for [the] long-end” of the yield curve.

“Also, pension and insurance funds need long-term assets to match their portfolio,” she added.

Tuesday’s auction was also over-

subscribed with total submitted bids amounting to P53.9 billion, nearly twice the P30-billion offer.

The decision to fully award the bonds brought the total outstanding volume for the series to P120 billion.

On Monday, the BTr also raised an additional P5 billion by awarding 364-day Treasury Bills (T-bills) through its tap facility auction. This is on top of the P20 billion in T-bills it also awarded in the primary auction during the same day.

For this week, the BTr raised a total of P55 billion from its primary auctions and tap facility auction.

The BTr earlier said it aims to borrow P160 billion this March.

The national government’s outstanding debt has hit a new recordhigh at P10.327 trillion as the government looked for more funds to respond to the Covid-19 pandemic.

Finance officials expect the national government’s debt this year

to reach 57 percent of gross domestic product (GDP) as the country aims to borrow a total of P3.03 trillion, roughly the same amount it borrowed in 2020.

To note, the Philippines ended 2020 with a 14-year-high debt-toGDP ratio of 54.5 percent, posting outstanding debt of P9.795 trillion.

The government even expects this to rise to 57.8 percent this year and 58.5 percent next year, though still lower than the 60 percent internationallyrecommended debt threshold.

The Philippines’s debt-to-GDP ratio last year is “slightly higher” compared to the average debt ratio of Asean-5 at 51.5 percent, according to the Department of Finance.

Based on the 2017 to 2020 data provided in the economic bulletin of Finance Undersecretary and Chief Economist Gil S. Beltran, it was only last year that the Philippines’s debt ratio exceeded the Asean-5 average.

Morgan Stanley doubles down in Japan for MUFG push

M

ORGAN Stanley is doubling down on its efforts to help Mitsubishi UFJ Financial Group Inc. replicate the US lender’s highly successful wealth management business in Japan, where competition to serve rich clients is intensifying.

The New York-based lender has dispatched Darren Spencer, the former chief operating officer of Morgan Stanley Private Wealth Management, to Tokyo to train staff and develop expertise at Japan’s largest lender. The two banks set up the Mitsubishi UFJ Morgan Stanley Securities Co. joint venture in 2010, which offers retail clients investment services.

At the end of December, the joint venture managed 40.7 trillion yen ($373 billion) of client assets, about a third of the amount held by No-

mura Holdings Inc.’s retail segment.

Morgan Stanley’s wealth business manages about $4 trillion of assets globally and employees about 16,000 financial advisers in the US. “My mission is to impart that know-how, expertise so they can get the same successes here in Japan that we have seen in our wealth management business in the US,” Spencer, Morgan Stanley’s head of Wealth Management Alliance, said in an interview. He will also help to create a digital platform for wealth management services, similar to the one the bank operates in the US. Banks from Sumitomo Mitsui Financial Group Inc. to Goldman Sachs Group Inc. are stepping up efforts to manage more money for the wealthy in Japan where households hold more than half of their 1.95 quadrillion yen of assets in cash and deposits,

according to Bank of Japan data.

Tapping expertise

“WE will aggressively incorporate Morgan Stanley’s world-class expertise, from advisory models to product development to market and risk analysis,” Naoyuki Hamada, Mitsubishi UFJ Morgan Stanley Securities deputy president, said in an interview last year. Hamada, a former BlackRock Inc. manager, has been working to unify wealth advisers, managers and consultants working at different divisions into a team of 1,600 bankers serving the rich.

Spencer, who relocated in November and has worked at Morgan Stanley since 2009, will also help MUFG to move away from a “commission-based, product-push type of culture” that charges clients for each trade, to “more advice-based”

services that take a fixed-rate fee for overseeing broad portfolios over the long term, he said.

Japanese brokerages have been under pressure to increase income from such wealth business as competition pushes commissions lower and regulators crack down on pushy sales tactics.

While the evolution will likely take time, that is “ultimately where the US business and others have gotten to,” said Spencer, Morgan Stanley’s first Tokyo-stationed wealth management specialist. “I think the future here in Japan is very bright.”

The US lender also operates another joint venture in Japan, which focuses on services such as international stock offerings and bond issuance. MUFG bought a $9 billion stake in the Wall Street firm in 2008 and is its biggest shareholder. Bloomberg News

China faces bond market test after ‘bastion’ role

C

HINA’S $18-trillion bond market has proved remarkably stable in the face of rising yields around the world. A flood of issuance from the country’s local governments from April is about to put that resilience to the test.

Regional authorities are expected to expedite sales of new special local debt, just as short-term loans and corporate tax submissions are due. The brunt of the pressure— with a record 7.1 trillion yuan ($1.1 trillion) of such debt expected this year according to official figures and data compiled by Bloomberg— will fall on Chinese banks, asked to ensure growth while facing calls to cut leverage.

Foreign funds such as UBS Asset Management are underweight such debt, noting the looming supply, while others are counting on the People’s Bank of China to provide liquidity in the second quarter to help absorb the sales.

“Banks are under even greater pressure than last year to digest the bond issuance,” said Xing Zhaopeng, senior China strategist at Australia & New Zealand Banking Group Ltd. “The key issue here is that local governments lack funds, and the central government can’t let them be starved of it, therefore it can only let them roll the debt over.”

Supply flood

LOCAL government debt makes up more than one fifth of the nation’s bond market, and appetite for them is often an indicator of just how accommodating China’s policymakers are.

Average monthly net government bond issuance, led by local

ments are slated to issue 820 billion yuan in general bonds this year to fund projected budget deficits, the Ministry of Finance’s annual budget report showed. They are also expected to sell another 2.67 trillion yuan of notes to refinance existing debt, according to data compiled by Bloomberg.

Overall, “net on net you’re going to see less but you’ll see more on the local government bond side,” said Hayden Briscoe, head of fixed income for Asia Pacific at UBS Asset Management in Hong Kong, whose fund is underweight Chinese local government bonds. “You should see it as a bullish sign for bonds this year, but bearish from a sector perspective on the supply in local governments versus sovereign.”

Liquidity question Two women stand at Pudong to Nanjing Road with the Shanghai skyline on their background.

China’s plan to issue local government bonds is expected to test its bond market. Bloomberg News

debt, could jump fourfold to 680 billion yuan between March and June, from 169 billion yuan in the first two months, according to Standard Chartered Plc analysts including Becky Liu. The uncertainty over how local debt—sold to fund everything from bridges to highways—will be absorbed could spill over to the sovereign bond market.

The 10-year benchmark yield could climb to 3.6 percent in the second quarter, ANZ’s Xing said.

That would be a level unseen since October 2018.

So far, China’s sovereign bonds have escaped the global rout led by Treasuries. While yields on the 10year US benchmark have jumped

90 basis points since November to as high as 1.75 percent, the Chinese equivalent has fallen more than 10 basis points from a peak at that time to about 3.2 percent.

The resilience has been partly due to a record influx of foreign purchases, lured by the returns and inclusion of Chinese debt into major global indexes.

But these bullish factors tend to favor the more liquid sovereign and policy bank bonds. That’s why investors had scrutinized Beijing’s recent decision to let regional authorities sell 3.65 trillion yuan of special debt—which while less than last year’s record is more than expected.

In addition to that, local govern-

BANKS are going to need the PBOC to pump money into the system— probably through medium-term lending facilities, according to Citic Securities Co. and Guosheng Securities Co. The central bank has kept money market conditions generally balanced after engineering in January the worst cash crunch in more than five years.

Commercial lenders also will need to repay more than 1.6 trillion yuan of negotiable certificates of deposits—short-term interbank borrowing instruments—that will mature next month.

According to historical experience, if monthly net financing in China’s bond market exceeds 1 trillion yuan, it may significantly suppress investor sentiment, said Guannan Zhou, a fixed income analyst from Huachuang Securities. “This may be reflected in April.” Bloomberg News

B4

Show BusinessMirror

Wednesday, March 24, 2021 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

PMPC sets 29 categories, four special awards for 36th Star Awards for Movies HE HASN’T CHANGED

THEY say that a woman should not try to change a man and in this case, that saying is right. When the celebrity married the actor, everyone thought that because she was so much younger than he was, she would reform him from being a womanizer to being a devoted husband. Well, he was devoted to her for a few years until last year when he reportedly got another woman pregnant. The supposed woman allegedly gave birth recently, which is why the celebrity is very worried that her husband might leave her. The other woman is very controversial not just because of this issue. If this is true and she admits it, which we seriously doubt at this point, it will be very big news.

THAT’S WHAT FRIENDS ARE FOR

THEY have been friends for a bit and their showbiz journey actually started at the same time. It’s just sad that one did not do as well as the other both careerwise and financially. But still, they went into business together with the less successful one as an industrial partner. But it really happens that people change and circumstances change. This is what happened with these two friends. The successful friend felt that he could now move on to the next chapter of his life without his less successful friend. For the latter, it was OK. These things happen. But for their other friends and some of their fans, what happened merely demonstrated what they’ve always said about the actor and his loyalty. For them, the actor is loyal to himself and his interests. They see him as someone who is a user and opportunist.

MISS PUSHY

WHEN the starlet was with her former network, her style was to gift people with lots of good food whenever she wanted something, like a role in a drama or a new partner. She would usually get her way, not because people liked her bribes but because they would rather not deal with her being so busy. In her new network, the starlet wanted a role in a new project so she went all out for it. She talked to people and gave them gifts. This time, it wasn’t just food. She gave more expensive presents like bags and shoes. In the end, she still didn’t get the role because people in her new network also didn’t want to deal with her any more than they should. They said that since she wasn’t a homegrown talent, she wasn’t a strong contender anyway. Guess what? The role still went to someone who wasn’t a homegrown talent.

HIS PROBLEM

THE actress is well-established, both in her career and financial status. She could actually stop working and live simply off the profits from her investments or just work less. Her rumored boyfriend is still considered a starlet and he seems, to the public’s eye, more in love with her than she is with him. The most difficult thing about the situation, aside from the actress not being head over heels with her rumored BF, is financial in nature. The starlet does not make as much as his rumored GF but her lifestyle and spending capacity are not the same as his. So he struggles with keeping up with her. He’s lucky that there’s a pandemic and they’re not leading a socially active lifestyle right now because then, he would really have a problem.

B

CELEBRITIES BORN ON THIS DAY: Amanda Brugel, 43; Alyson Hannigan, 47; Jim Parsons, 48; Louie Anderson, 68.

a

ARIES (March 21-April 19): Be clear regarding what you want to do and how you plan to proceed, but don’t expect others to tag along or agree with you. Be open to suggestions, but don’t let anyone push you in a different direction. Follow your heart. HHHHH

b

TAURUS (April 20-May 20): If you are anxious, you’ll make a mistake. Take a moment, think things through, consider all your options and make a decision based on moderation and intuition. Don’t give anyone a chance to railroad you into something you don’t need or want. HH

c

GEMINI (May 21-June 20): Pull out all the stops and take action. It’s what you do, not what you say, that will make the difference. A chance to work alongside someone you trust and respect will make your life easier. HHHH

d

CANCER (June 21-July 22): Rethink your motives and what you are trying to achieve.

Rework your plan to fit the results you expect, and forge ahead. Don’t let a physical or emotional attraction you have with someone jeopardize your position or reputation. HHH

e

LEO (July 23-Aug. 22): Stop before you make an irreversible mistake. Spend more time honing your skills and figuring out what it is you want. Personal improvement will lead to a better life, friendships and insight. HHH

f

VIRGO (Aug. 23-Sept. 22): Keep your life simple and your discussions truthful. Observe the changes going on around you, and consider what’s best for you before you make a move.

You’ll encounter a learning curve if you ignore what’s happened in the past. HHH

ALDEN RICHARDS and Kathryn Bernardo

Originals), and Mindanao (Center Stage Productions) n MOVIE ACTOR OF THE YEAR—Louise Abuel (Edward), Carlo Aquino (Isa Pa With Feelings), Gold Azeron (Metamorphosis), Raymond Bagatsing (Quezon’s Game), Elijah Canlas (Kalel, 15), Jansen Magpusao (John Denver Trending), Aga Muhlach (Miracle In Cell No. 7), Alden Richards (Hello, Love, Goodbye), and Julio Sabenorio (Guerrero Dos, Tuloy Ang Laban). n MOVIE ACTRESS OF THE YEAR—Bea Alonzo (Unbreakable), Kathryn Bernardo (Hello, Love, Goodbye), Angie Ferro (Lola Igna), Sarah Geronimo (Unforgettable), Janine Gutierrez (Babae at Baril), Ruby Ruiz (Iska), Sylvia Sanchez (Jesusa), Judy Ann Santos (Mindanao), and Jodi Sta. Maria (Clarita). n

Plans solidify for 93rd Oscars: No Zoom, no sweatshirts WITH nominations set and just over a month until showtime, details are trickling out about the 93rd Oscars and neither sweatshirts nor Zoom made the cut. “Our plan is that this year’s Oscars will look like a movie, not a television show,” said show producers Jesse Collins, Stacy Sher and Steven Soderbergh in a statement on Friday. They’ve enlisted Emmy and Tony Award winning director Glenn Weiss to direct the live broadcast on April 25.

Although considerably scaled down from a normal year, the producers have said they are committed to holding an in-person event at Los Angeles’ Union Station for nominees, presenters and limited guests.

There will also be a live component at the Dolby Theatre, which has been home to the Academy

By Eugenia Last

z

Happy Birthday: Take control of your life. You’ll encounter opportunities that will take you in a new and exciting direction. Pool all your resources and leave nothing to chance. Doors will open that have been closed in the past. Don’t fear change; display what you have to offer, and embrace life, love and happiness.

Romance is on the rise. Your numbers are 8, 13, 22, 29, 34, 42, 45.

By Leony R. Garcia

OTH mainstream and independently produced movies vie in the 29 categories this year set by the Philippine Movie Press Club (PMPC), which announced recently the nominees for the 36th Star Awards for Movies. Aside from the 29 categories, four Special Awards will be given to deserving awardees.

Prized GMA actor Alden Richards and ABS-CBN actress Kathryn Bernardo lead this year’s nomination for their roles in Cathy Garcia-Molina’s Hello, Love, Goodbye, the highest-grossing Filipino film thus far.

Bernardo is vying for the Movie Actress of the Year plum alongside Bea Alonzo, Janine Gutierrez, Judy Ann Santos and veteran actress Angie Ferro.

Meanwhile, Richards competes against Aga Muhlach, Carlo Aquino, Raymond Bagatsing and Elijah Canlas, among others, for the Movie Actor of the Year title.

Hello, Love, Goodbye is also a nominee for Movie of the Year, going against Quezon’s Game, LSS, The Panti Sisters, Maria and Write About Love.

Meantime, the Nora Aunor Ulirang Artista Lifetime Achievement Award will be given to veteran actress Angie Ferro, while the Ulirang Alagad ng Pelikula sa Likod ng Kamera Lifetime Achievement Award shall be conferred to director Elwood Perez.

The 36th PMPC Star Awards edition will be led by 2021 PMPC president Roldan Castro together with 2020 PMPC president Sandy Es Mariano, and the officers and members of the Philippine Movie Press Club. Other details of the awarding ceremony will be announced in the coming days.

Here is the list of nominees for some major categories: n MOVIE DIRECTOR OF THE YEAR—Crisanto Aquino (Write About Love), Jade Castro (LSS), Cathy GarciaMolina (Hello, Love, Goodbye), Pedring Lopez (Maria), Erik Matti (Kuwaresma), Jun Robles Lana (The Panti Sisters), and Jun Robles Lana and Perci Intalan (Unforgettable). n INDIE MOVIE OF THE YEAR—Babae at Baril (Cignal Entertainment, Epicmedia, QCinema), Edward (Cinemalaya Foundation, Awkward Penguin, Viva Films, Outpost Visual Frontier), Guerrero Dos, Tuloy ang Laban (EBC Films), John Denver Trending (Cinemalaya Foundation, What If Films Philippines, Southern Lantern Pictures, Tinker Bulb Productions, Outpost Visual Frontier), Kalel, 15 (The IdeaFirst Company, Octobertrain Films, Cignal Entertainment), Lola Igna (ERJ Found Films and EMBA Productions), Metamorphosis (Rebelde Films and Cinema One

Today’s Horoscope

Awards since 2001.

But unlike the Golden Globes, which combined inperson and Zoom elements in its bi-coastal broadcast, the Oscars are not making a virtual element possible for nominees who either can’t or don’t feel comfortable attending. The producers said they plan to treat the event like an active movie set with on-site Covid safety teams and testing protocols.

And, yes, they expect attendees to dress up.

“We’re aiming for a fusion of Inspirational and Aspirational, which in actual words means formal is totally cool if you want to go there, but casual is really not,” producers said.

The 93rd Oscars will be broadcast live on ABC on April 25 starting at 8 pm ET. AP

g

LIBRA (Sept. 23-Oct. 22): Focus on fitness, health and spending energetic time with the people you love. Get involved in activities that push you to be and do your best, and you’ll find the contentment and satisfaction you are searching for.

HHHH

h

SCORPIO (Oct. 23-Nov. 21): Mull over your plans, and elaborate on what it is you want to pursue. The changes you implement are best done in secret until you have everything in place.

HH

i

SAGITTARIUS (Nov. 22-Dec. 21): Steer clear of joint ventures. You will do well if you put your time and money into personal and home improvement. Don’t trust or believe anyone who makes unrealistic promises. Concentrate on what you can do by yourself. Physical fitness is encouraged. HHHHH

j

CAPRICORN (Dec. 22-Jan. 19): It’s time to do things differently. Keeping up with the changing times will ensure that you don’t get left behind.

Update your surroundings and sell items you no longer use, and you’ll feel liberated and eager to begin something exciting. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Take control and sort through anything you’ve left unfinished. You’ll feel better once you have everything in its place. Give life to something you have been putting off due to other people’s interference. Do what makes you happy. HHH

l

PISCES (Feb. 19-March 20): Be quiet about your plans. The less anyone knows about your goals, the easier it will be for you to get things done. Change the way you live, and lower your overhead to fit a more restrictive budget. HHH Birthday Baby: You are playful, enthusiastic and resourceful.

You are expressive and unpredictable.

‘the end is the beginning’ by rebecca goldstein The Universal Crossword/Edited by David Steinberg

ACROSS 1 Depilatory brand 5 “Surely you ___!”

9 Formal agreements 14 Present opening?

15 Region 16 Dole out 17 Intergalactic makers’ studio? (hint: read each starred answer’s middle word twice) 20 Quick look 21 Runway display 22 New York NBA player 24 Played music at a club 26 Snowballs, in a snowball fight 27 Actress Rowlands 28 Moderate gait 29 Long-eared animals 30 *Retaliation for overdue wages?

33 Nonbinary possessive 34 Speech-language pathologist’s concerns 38 Where Fred Flintstone goes to get away from it all?

43 ___-full

7 Eclipse, to some 4 48 Mineral deposits 49 Queue 50 Texter’s “Then again...”

51 Bread for Swiss cheese?

52 Sandal feature 54 Chest press targets, informally 55 Chardonnay served at a state dinner, say?

60 Network connections 61 Like some affordable textbooks 62 GPS calculations 63 Trains in the ring 64 Prepare for takeoff 65 Enlist again DOWN 1 Negative replies 2 What an electric guitar hooks up to 3 If all else fails 4 Puffed snack 5 Guy in a toy box?

6 Add wrong, perhaps 7 ___ shanty 8 Ball gown fabric 9 Word after “boarding” or “touchdown”

0 Pack leaders 1 11 Insurance cases 12 In store 13 Shorthand pros 18 Startled cry 19 Wee bit 22 Soviet spy org.

23 Tidy 24 Like some hard cider 25 “You had one ___!”

28 Skating gold medalist Lipinski 29 Similar (to) 31 Guitar strummer 32 Extended family 35 Hot day 36 2019 film that won Best Picture 37 Frozen reindeer 39 Replace, electorally 40 Dashboard Confessional genre 41 “I’m not impressed” 42 Upper-left key 43 Birthday party performers 44 Genre for Nicki Minaj 45 Upstate New York tribe 46 One often on the rebound?

50 “I’m impressed!”

51 Not many 53 Model Holliday 54 Toenail treatment, informally 56 Megan Rapinoe’s team 57 Kind of hormone 58 T, on a sorority sweatshirt 59 Sixth sense, for short Solution to yesterday’s puzzle:

www.businessmirror.com.ph

Image BusinessMirror

Editor: Gerard S. Ramos

• Wednesday, March 24, 2021

B5

Managing a toxic boss IMAGE FROM TOPRESUME.COM

H

E leaves the meeting even before it finishes. But when he does stay, he finds reasons to dismiss your ideas and insists on his own. In meetings with your group head, he shoots down your ideas even if he has already approved these beforehand. He thinks he can do your work even if it took you years to develop the skill level you have right now, and insists on decisions which go against everything you believe in. He assigns you to projects you have no background in, and it seems he is always setting you up to fail. That is not bad luck. You have a toxic boss.

Having a toxic boss is counterproductive and results in delayed decisions and missed opportunities.

It also results in unnecessary fear and worry when you could have spent the energy doing actual work.

And when work becomes even more challenging than it already is, there is no need to feel unnecessary anxiety coming from your leader who, after all, should be there to guide you to success and support your professional growth.

A toxic boss is someone who lacks empathy. They demand work be done in a certain manner (their own way) and are inflexible with the causes of delay. They are rude and ridicule people in public, and cut off other people’s ideas when it goes against their own.

They treat every suggestion or recommendation as a personal attack but when things go awry, they find people to blame except themselves.

And since they lead a team, their leadership style breeds toxicity. They encourage conflict within the team by making team members compete against each other.

Toxic bosses are narcissistic and look out for their personal interests and lack the leadership and technical skills to manage their team. These are incompetent bosses who got by because of their promotional and marketing skills more than their decision-making and people-building skills. These are the bosses who get away with millions in losses by covering up their incompetence, passing the blame and sucking up to management by telling executives what they want to hear.

Any good organization can be taken down by one toxic boss who will alienate and drive out the best talents and replace them with sycophants who have no voice of their own, and who are as uncreative and incompetent as the toxic boss.

If you value your career and your own personal sanity, what can you do to manage a toxic boss? The first thing you need to do is to decide if you want to stay or go. This will dictate how you can control your reactions and how you do your work. It will also help you decide your end goal and guide your decisions in dealing with a toxic boss and those who enable them.

If you stay, a strategy which others employ is to

play along with their toxic boss and train themselves to be bootlickers. Some would argue that they do so to earn the trust of their manager and when the toxic boss feels comfortable with them and value their opinion, then they can recommend gradual changes.

I would caution against this as it can mentally drain you from keeping yourself positive about the situation. Sooner than later, you will mentally break down.

Another option you can take is to keep your head down and do the work to the best that you can. Be professional and do what is required of you to the extent that you do not suck up to your toxic boss.

Always do what you can to help your boss succeed so you safeguard your own professional credibility despite the lack of leadership. Be strictly professional with them by refusing to engage in useless gossip or talking about personal matters. This way, your toxic boss cannot use personal matters to your disadvantage.

Also, deliberately document everything and get their approval on paper especially for high-risk decisions which could be pinned on you. Let them know you cannot move forward without their documented instructions and if instructions were given verbally, send an e-mail immediately after with the summary of the decisions, and copy-in all those who were present. This way, you can protect yourself and the others who were there in the meeting.

And whether you stay or go, find a support group for yourself so you can vent out in a safe environment.

Make sure you find people you can trust and will provide practical ways of handling your frustrations and alleviating your anxiety. It is always good to find people who will provide guidance and help you navigate office politics.

If warranted, talk to your human resource. And while human resources is supposed to protect employee welfare, there are some who protect the employer at all cost. A balanced HR is one where they listen to employees but at the same time, package issues and concerns in such a way that employers understand the root cause, and that changes need to be made to improve employee welfare and, ultimately, productivity. Make sure you can trust your HR and that they can also do something about your toxic boss.

Otherwise, it can backfire and your toxic boss will antagonize you further.

In that case, get out as soon as you can. I do not mean get out of the organization right away. Try to look for other positions within the same organization.

Your institutional knowledge and the network you have built over the years will help you find other opportunities within the organization. If there are no other internal options, start looking outside.

Even if they are the best organization, it will only take one toxic boss to bring the whole organization down. No toxic boss is worth your peace of mind and professional growth.

I like what my leader said to our team when we were having a meeting one time. She said, “I like it that our team is diverse because differing views can open new opportunities and new ways of working.”

She further said, “If you guys thought the same, clearly, one is dispensable.” She assured us that our different backgrounds and perspectives help her make decisions for the good of the team, and ultimately the organization. And there are others like her. You do not have to needlessly suffer from a toxic boss. Because in the end, a good leader invests in people and their growth, more than advancing their personal interests. n

Global Japanese lifestyle brand opens biggest store in PHL Japanese lifestyle brand MUJI is opens its largest store in the Philippines at Shangri-La Plaza (www. facebook.com/shangrilaplazaofficial) this month, offering quality everyday and specialty products that can help people achieve a simple, pleasant life and a suite of exclusive services that create a delightful in-store experience for every customer.

The largest MUJI store in the country spans 1,400 sqm, an extended version of the previous store’s 400 sqm, showcasing various textures and natural materials in its interiors, such as old wood and metal, for a cozier, open environment where customers can comfortably shop and relax.

Around 4,000 items will be available at the MUJI store including the brand’s array of daily essentials such as health and beauty, stationery, travel, kitchenware, houseware, furniture, and electronics products, as well as men’s and women’s apparel, children’s wear, innerwear, bags, shoes and accessories.

Moreover, specialty products and services will also be exclusively offered at the MUJI store in Shang. This includes MUJI Labo, the brand’s unisex clothing line that can be worn by anyone regardless of age, gender, and body type with its simple and streamlined design featuring colors and shapes for easy coordination.

This is MUJI’s answer to excessive fashion, inspiring customers to create a more purposeful wardrobe instead of cramming it with unnecessary items that they don’t often use.

At the Shang store, customers will also get access to MUJI Advisors, who will offer free consultation services for three specific segments: interior, styling and experience. The Interior Advisor will provide recommendations on what furniture best fits a

Exclusively offered at Shang’s MUJI store is MUJI Labo, the brand’s unisex clothing line that can be worn by anyone regardless of age, gender and body type.

customer’s lifestyle at home. The Styling Advisor will help address styling concerns such as questions on fit, color and sizing options. Meanwhile, the Experience Advisor will help customers better understand the different products that MUJI offers under the stationery and health and beauty departments.

With the aim of creating a better relationship with nature, MUJI will also introduce a free water refilling station at its Shang store.

As part of its efforts to further reduce plastic waste, it will start to carry reusable water bottles priced at P160 each that customers can use to avail of the free water refilling service.

The MUJI store at Shang also features Open MUJI, a space where the brand can showcase teh brand’s concepts and house various activities. This area serves as a platform where the brand can communicate with customers and where MUJI Advisors can conduct workshops that help support the community.

As it continues its initiative of making quality and accessible products that focus on using natural materials that are sustainably sourced, MUJI also reintroduces its best-selling essentials at better prices. These items include those that can be used for daily activities such as working from home, running errands, or even during downtime.

3 ways employers could help fight vaccine skepticism

By Rita Men University of Florida ENDING the pandemic depends on achieving herd immunity, estimated at 70 percent or even 80 percent to 90 percent of a population. With some 30 percent of Americans telling pollsters they have no interest in getting vaccinated, that’s cutting it a bit close. The numbers are even worse in many other countries.

In the fight against vaccine skepticism, employers can play a key role. This is not only because it’s an important precaution for the health and safety of their employees, but also because a recent survey shows people around the world, including in the US, tend to trust their employers more than governments or the media.

As someone who studies how companies communicate with their employees, I have three research-based tips that can make their efforts more effective.

1. Building trust with transparency. Although many workers say they trust their employers more than some other institutions, trust erosion has been a prominent global issue. Just 61 percent of participants in the survey referenced above, conducted by public relations consultancy Edelman, said they trust businesses to do the right thing.

That’s why it’s essential for companies to communicate with employees in a way that builds more trust. And research has shown that transparency has been consistently linked to employee relationship with their employer.

By that I mean focus on giving employees the facts— while dispelling some of the myths—and being clear about where it all comes from. There are many ways to disseminate the information, such as through email, flyers, corporate newsletters and social media, but inviting in local health experts is another good way to transparently lay out the facts while also helping skeptical employees get their questions and concerns addressed.

2. It’s a two-way street. That brings me to another important point: Employers will be more effective if they treat employees as partners in the internal vaccination program.

And that means listening as much as talking.

Research has found that companies that are pursuing a major change—such as a merger, layoff or rebranding—are more likely to win high employee acceptance if they engage in two-way communication that emphasizes listening, feedback, reciprocity, openness and trust. When employees feel their voices are being heard and taken seriously by their organization, they feel empowered and more involved, making them more likely to buy in to the organization’s decisions.

3. Empathy works. Businesses that emphasize empathy, compassion and genuine care for employees’ well-being have won applause from employees during the Covid-19 pandemic. My own recent study—which is currently under review—examined leaders’ use of motivating language during the pandemic. I found that supervisors who gave clear directions, showed empathy for how the pandemic affected workers’ personal lives and communicated support were most effective in fostering employee trust in leadership and the organization. While understandably trust that isn’t there can’t be built overnight, it’s never too late to do more.

I found similar results in past research: CEOs perceived as exhibiting genuine care for their employees engender more support for company-wide initiatives.

Beyond the language being used, companies can show they care in other ways—actions speak louder than words, after all.

The US and the world face one of the greatest health crises in history. Ultimately, I believe, it’s a collective responsibility of everyone—governments, individuals, companies—to help turn the tide against the pandemic.

THE CONVERSATION

B6 Wednesday, March 24, 2021

CSC cites outstanding women in government

MPIF bolsters marine guardians program in Medina, Misamis Oriental the real purpose and intention of the program,” says Municipal Mayor Donato N. Chan. “It is not just in the abundance of fish catch. We also take pride in establishing the Marine Protected Area and the system we have done with the support of MPIC to enrich our marine lives in the municipality. As we express our gratitude to MPIC, may our success story not just be a history but a legacy that our future generations will live on.”

THE MPIC Guardians Program in Medina underwent a sustainability assessment to determine the impact of the three year-long initiative, from left: Medina Vice Mayor Kim Michael P. Odchigue, Atty. Donn Kapunan, MPIF President Melody del Rosario, Medina Mayor Donato N. Chan, and Mr. Benjie del Rosario.

M

ETRO Pacific Investments Foundation (MPIF), the corporate social responsibility arm of Metro Pacific Investments Corporation (MPIC), fortifies its partnership with the Municipality of Medina, Misamis Oriental through a sustainability assessment of its three yearlong Marine Protection, Inspection, and Conservation (MPIC) Guardians program.

Misamis Oriental, a fourth-class province situated in Northern Mindanao, is recovering into its role as one of the Philippines’ prime dive sites following detrimental effects of the COVID-19 pandemic. With its rich marine ecosystem emphasized by its must-visit sites for divers, the Department of Tourism has actively positioned the province as a premier dive destination alongside Camiguin and Misamis Occidental.

Local tourism officials identified at least eight areas in a recent survey and assessment, naming Medina’s Japanese Garden and Paradise Aquarium, Taisayan’s Pontoon Wreck and Sipaka Point, Balingoan’s Mantangale House Reef and Lapinig, and Gingoog’s Marine Protected Area and Gingoog Port as the must-dive locations in Misamis Oriental.

The value of the province’s dive profile and the need for immediate rehabilitation of marine resources has identified Medina, a 133-square kilometer municipality in the province known for its abundant fish production, as a key area for the implementation of MPIF’s MPIC

Guardians Program back in 2018 – one of the many initiatives under MPIF’s flagship program, Shore It Up! Through the implementation of the MPIC program, twenty-seven (27) local fishermen were deputized and given the essential training, equipment, and monthly allowances to serve as stewards of marine protection in the municipality. They were given the responsibility to conduct foot and seaborne patrol, implement a monthly coastal cleanup in all coastal barangays, monitor the fish catch, enforce strict implementation of nofishing in Medina waters for non-residents and of hook and line fishing only at the fish aggregate device. The Foundation allocated a five-year budget of around P6.8M for this program with capacity building, uniforms, equipment, and salaries included.

In effect, the MPIC Guardians and their families saw an improvement in their lives, citing the increase in fish to catch as the catalyst to increase their means to support themselves and their families.

The program not only saw the increase and improvement in quality of the fish catch of Medina fishermen, but brought about the absence and even voluntary surrender of illegal fishermen. The presence of this alternative livelihood also paved way for the opening of economic activity to tourist boat operators who contribute approximately P1.7 million to Brgy. Duka’s annual income.

“For three years that we have been together with MPIC, we have internalized

Strengthening Marine Protection

“THE MPIC Guardians Program in Medina kickstarted MPIF’s vision to create a network of partner sites that uphold solid marine protection and conservation practices in key Marine Protected Areas,” says MPIF President Melody M. Del Rosario. “This pioneering initiative led to our bigger goal of achieving a number of Sustainable Development Goals (SDGs) set by the United Nations. We must ensure its sustainability, not only for the continuity towards this goal, but also to reinforce the impact of our support for these individuals, their families, and their community.”

The MPIC Guardians program addresses six of the 17 SDGs, namely (14) Life Below Water, (15) Life on Land, (13) Climate Action, (2) Zero Hunger, (8) Decent Work and Economic Growth, and (17) Partnerships for the Goals.

This is in line with Metro Pacific’s commitment to both the United Nations Global Compact (UNGC), the largest corporate sustainability initiative aimed to align strategies and operations with universal principles on good governance and ethical business practices; and the Sustainable Accounting Board Alliance (SASB), a program for organizations and individuals that support the need for more decision-useful, cost-effective sustainability disclosure.

The same sustainability assessment will be conducted with Puerto Galera’s MPIC Guardians by this month as well.

Do you have neutralizing antibodies to combat COVID-19?

Find out through Hi-Precision Diagnostics’ cPassTM Test

A

S COVID-19 continues to infect and take millions of lives all over the world, scientists pursue the development of effective vaccines to counter its effects. But even as they look at other man-made cures, the answer may be right inside your body in the form of a neutralizing antibody.

A neutralizing antibody (NAb) is an antibody that defends a cell from a pathogen or infectious particle by neutralizing any effect it has biologically.

By doing so, the particle will no longer be infectious. In this context, neutralizing antibodies may be the antibodies that prevent infection against COVID-19.

But how will you know that you have such neutralizing antibodies inside you?

Hi-Precision Diagnostics (HPD), the pioneer and leading medical laboratory in the country, introduces the cPassTM Kit SARS-CoV-2 Neutralizing Antibody Detection Test with cPassTM technology powered

by GenScript. The only commercially available test that specifically detects the neutralizing antibodies against COVID-19, it is a first in the Philippines and available only in HPD. This is a qualitative test, recommended for those who have had previous COVID-19 infection, and for those who want to check their immunity status pre and post vaccination for COVID-19, especially for: - Frontline workers/individuals who may have higher exposure potentiality to the virus; - Frontline workers/individuals who

may be asymptomatic but have developed neutralizing antibodies against COVID-19; - Individuals who may be asymptomatic and do not have clinical indications to COVID-19; - Individuals who may require serology test results to demonstrate the status of a previous infection; and - Individuals who would like to investigate possible false negative COVID-19 results and past infection.

A positive result of this test indicates the presence of SARS-CoV-2 neutralizing antibodies, which means that you may have been potentially exposed to COVID-19.

SARS-Cov-2 neutralizing antibodies usually develop from one to two weeks after exposure to SARS-CoV-2 virus, its derivatives, or vaccines, as it takes time for

our immune system to generate antibodies.

Before you proceed with the cPassTM test, however, you should first take this up with your clinician. If your clinician recommends that you take this test, submit a blood sample; the cPassTM test requires 3-6 mL of blood sample via venipuncture.

The test report will be sent to your clinician, who will discuss your results with you.

HPD’s cPassTM Kit SARS-CoV-2 Neutralizing Antibody Detection Test is FDA EUA approved in US (also approved in Philippines). It is available at all HPD and HPD Plus branches, except Cebu.

To know more about the cPassTM Kit SARS-CoV-2 Neutralizing Antibody Detection Test, contact Hi-Precision Diagnostics at 8741-7777 or visit hiprecision.com.ph.

A

S the nation celebrates National Women’s Month this March, the Civil Service Commission (CSC) honors women in government service who have made significant contributions to the country.

“Women in government are major players in different aspects of national development—in leadership and legislation, science and technology, medicine, social services, even in the enrichment of Filipino culture and the arts,” CSC Chairperson Alicia dela Rosa-Bala said, adding, “They deserve honor and recognition not only for their achievements, but also for opening the door for other women and girls to come forward and fulfill their potentials.”

For many years, the government has given rewards and recognition to outstanding female public servants through the Honor Awards Program (HAP) administered by the CSC. Under the said program, the CSC runs the annual Search for Outstanding Government Workers.

The CSC recalls these outstanding women who have been given recognition under the HAP:

2019 CSC Pagasa awardee

DR. MARIE Charyll H. Jamolo, Jail Senior Inspector, Bureau of Jail Management and Penology Regional Office VI, Iloilo City.

Dr. Jamolo implemented a holistic lifestyle and wellness program in all 35 jails in Region VI, which included access to medical consultations, psychological and emotional sessions for inmates involved in drug-related cases and those with special emotional needs, Directly Observed Treatment Short Course (DOTS) for tuberculosis, and various healthcare information. She turned the 35 jails into 100% smoke-free zones, leading to BJMP RO VI’s conferment of the Red Orchid Award twice by the Department of Health.

2018 CSC Pagasa awardee

TRIBAL and Muslim Affairs Team, City Tribal and Muslim Affairs Office, City Government of Tagum, Davao del Norte (Team Leader: Xylee Labastida-Palomata; Adelaida P. Andipa; Marife C. Pagdilao).

The all-female team was cited for capacitating traditional leaders that enabled them to actively participate in city and barangay legislation, and to gain representation in various committees and councils. Through its efforts, 12 livelihood grants worth PHP5.88 million were allocated to the indigenous and Muslim cultural communities, which included funding for the establishment of a Tribal Display Center showcasing locally-made products. It also expanded the local government’s cultural literacy programs that revitalized indigenous practices.

2017 Dangal ng Bayan awardee MARIA Corazon A. De Ungria, University Researcher V (Scientist II),

Representative Vilma Santos-Recto University of the Philippines Diliman Ungria heads the DNA Analysis Laboratory of the Natural Sciences Research Institute in UP Diliman. She developed and used DNA technology in criminal investigations. The Research Group of the Philippine Judicial Academy partnered with Dr. De Ungria in developing the guidelines on the use of forensic DNA technology in the Philippine criminal justice system, resulting in the promulgation of guidelines being used in all Philippine courts.

2016 Dangal ng Bayan awardee Sonia E. Ipang,

SOCIAL Welfare Officer III, Department of Social Welfare and Development Cagayan de Oro City.

Mommy Sonia, as she is fondly called, heads the Regional Rehabilitation Center for the Youth in Gingoog City. She makes sure that the center treats residents with care and dignity. She established a parenting environment where residents, many of whom were neglected children, learn to express their thoughts and emotions. Residents are also taught to engage in livelihood opportunities. One of the minors she helped was Rustie Quintana, a boy separated from his family and forced to live on his own means. Through the help of the center and compassionate individuals, Rustie eventually earned a college degree and began to help street kids find a better life.

2012 Presidential Lingkod Bayan awardee

REPRESENTATIVE Vilma Santos-Recto Former Governor of the Province of Batangas, now Representative of the 6th District of Batangas She was cited for daring to fight the toughest battles of the Province of Batangas as she addressed the persistent overcrowding in Taal Lake to improve water quality and prevent fish kills. She ordered the dismantling of hundreds of illegal fish pens and other structures on and within the vicinity of the lake. The move almost cost her her re-election in 2010 as moneyed interests campaigned against her.

Asian Eye Institute launches new online shop

A

SIAN Eye Institute, the largest and most trusted eye center in the Philippines, officially unveiled its e-commerce website, the Asian Eye SHOP on www.asianeyeshop.com.

Created to help customers look, see and live better, the shop puts the care back into eye care and eyewear. It combines access to a variety of eyewear options to Asian Eye’s stable of experts through its teleconsultation service and online appointment booking service. This means that shoppers can easily consult an Asian Eye expert to help them choose the right eye glasses, eye drops or service that suits their needs.

Online shoppers can avail of stylish, well-made and affordable eye care products – from UV + blue light eyeglasses for both kids and adults to polarized sunglasses, contact lenses, eyewear accessories, and eye protection (goggles, face shields). FDA-approved eye medicines for different eye conditions like corneal edema and glaucoma, as well as eye lubricants and vitamins can also be purchased on the online shop.

For shoppers that need it, Asian Eye’s Teleconsultation service makes it easy for patient to do a video consult with their

eye doctor, without having to leave their homes or offices; request e-prescription they can use at the online shop or present to any pharmacy; and order eye medication/s and other optical products to be delivered straight to their doorstep. This is particularly useful for senior patients who are more comfortable ordering through phone call.

The Asian Eye SHOP is the 20-year old institute’s response to the pandemic concerns of its clients. According to Asian Eye Chief Operating Officer Mr. Alwin Sta. Rosa, “We are always looking for ways to make it convenient, safe and easy for our patients. Through the shop, we can bring them the Asian Eye care and expertise that they have come to love and trust by providing them with a seamless shopping experience, whenever and wherever they are.”

The online shop also offers shoppers access to exclusive brands like DailySpecs, Kidspex, ActivSpex, Brett and Massada.

“The Asian Eye SHOP offers interactive features. The website also offers tips and shopping guides, to help you choose the right products for you.” Mr. Sta. Rosa explains, “Aside from the design, there are other things that can affect how clear and comfortable your vision is. That’s why we have made our experts available on-call from Mondays thru Saturdays, from 9AM to 6PM. They can help make sure that what you buy will not only look good, but also fit well and are appropriate for their eye care needs.”

Check out the Asian Eye SHOP at www. asianeyeshop.com. Free shipping is available for a minimum purchase of Php2,000.

BusinessMirror

Editor: Tet Andolong

The Mega Tower: The future of work

S

M Prime Holdings Inc. launches the Mega Tower—the latest addition to the ever-growing development of the SM Megamall complex.

The 50-story office building, SM Prime’s tallest skyscraper, is strategically located just beside Edsa and will serve as a gateway to the bustling Ortigas Central Business District.

The Mega Tower’s structure’s innovative design and elegant Sshape silhouette represent Growth and Sustainable Development as it serves as a stepping stone for the evolution and betterment of green architecture in the Philippines. The Mega Tower is registered with the certification goal of LEED Gold.

Designed for the future of work, the Mega Tower offers unparalleled access, safety, flexibility, and sustainability to its tenants.

Its main entrance lobby is formed by elevating the tower from above the drop-off, making for a grand arrival space. The tower has a center core with three fire exits for efficient density planning of the usable area of its locators. Its typical floor plate of over 2,700 sq m is suited for different industries with a 360-degree curtain wall for

The elegant S-shaped Mega Tower, SM’s newest skyscraper, is a 50-story office building conveniently located along Edsa just beside SM Megamall’s Mega Fashion Hall.

The Mega Tower Ground Floor offers a diverse mix of cafes and restaurants that are expected to enhance the experience and comfort of Mega Tower tenants.

natural lighting and unobstructed city view.

The tower’s ground floor will offer a diverse mix of cafes and res-

taurants expected to enhance the experience and comfort of Mega Tower clients. The tower lobby has a direct link to Mega Fashion Hall

where tenants can enjoy global and local retail, food and beverage, and other services.

Aside from being conveniently located at a major thoroughfare along Edsa with proximity to two MRT stations, the building will have a Public Terminal Interchange (PTI) which will primarily cater to commuters riding PUVs or shuttle vans. Five percent of the parking slots of Mega Tower are dedicated to energy-conserving vehicles.

For leasing inquiries, e-mail us at office.leasing@smprime.com.

For more information, access the digital brochure at http://bit.ly/ SMMegaTower.

Wednesday, March 24, 2021 B7

The Executive Centre now in the Philippines

T

HE Executive Centre (TEC), the leading premium flexible workspace provider in the Asia Pacific and Middle East, forays into the Philippines market with the opening of its flagship center in the highly sought-after Ayala Triangle Gardens Tower 2, Makati CBD. TEC’s flagship center in Metro Manila is set to open in Q2 this year to provide its internationally renowned premium service for domestic and multinational businesses eyeing for a truly first-class flexible workplace solution within prime locations and prestigious office addresses. The Makati CBD center also carries TEC’s brand of cultivating a thriving, convivial and supportive environment that has helped empower businesses to succeed since its founding in 1994.

“Our approach is always to think of our members first, even when it comes to our international expansion strategy. We move into cities and markets based on member demand,” said Josh Alfafara, TEC Philippines country manager.

“Philippines is an exciting opportunity to develop our presence globally while supporting the strategic growth of our members with our premium flexible workspace solutions that is currently lacking in this market.”

Alfafara further explained, “In times of uncertainties, many corporations become more cost-conscious and shift towards an agile and responsive business models.

Innovative office solutions that offer cost-efficiencies and the freedom of rapid scale are favored over traditional leases with long rental periods that become a heavy cost. As a result, companies today

are changing the way they take up space and are adopting elements of flexible workspace strategies to empower their corporate realestate portfolios. It is this flexible model towards real estate that TEC has perfected over 27+ years and can tailor to suit the size and needs of organisations in various professional industries. As we move into a ‘new normal,’ we foresee that even the most traditional of businesses will see the benefits of our unique premium flexible workspace offerings.”

Philippines is a rapidly growing market for commercial real estate, with Metro Manila being the key financial hub which is dominated by domestic and multinational corporations. TEC is confident in delivering a premium flexible workspace solution inline to meet the demands of these businesses. The flagship center provides high-end design and interiors to cater to all kinds of businesses. Its thoughtful layout is finished with subtle accents from contemporary design pieces, height-adjustable standing desks, iconic Herman Miller ergonomic chairs and pays homage to the local Manila culture. Further elevating the office experience, the flagship center will be supported by state-of-the-art audiovisual technology and a dedicated team of on-site professionals who are experts in the field of hospitality, administration and IT support to ensure a seamless day-to-day business experience for its members.

Globally, over 76 percent of TEC’s client base are MNCs from diverse industries, including leading financial services and banking, consulting and professional services, and technology companies.

Europe’s PIK expands in the Philippines with premium real-estate project

Find a spacious and tranquil community at Seafront Residences

I

F there is one thing that this ongoing pandemic has taught us, it’s learning to appreciate the importance of nature, fresh air, and the luxury of space. With many homebuyers now eyeing the South of Luzon area as an ideal location for settling and raising families, the spotlight is on mixed-use communities where residents can survive, thrive, and simply enjoy life. One such community is the Seafront Residences of AboitizLand.

Recent trends in homebuying indicate a rise in take-up of beachfront properties, as moneyed property purchasers are now seek-

ing second homes that can provide a healthier environment in less congested towns outside megacities. This trend has been observed globally, where an outflux of urban dwellers relocated to next-wave cities and towns that can afford them bigger living spaces and open areas.

“Before, residences near central business districts, places of work, or transport hubs are popular preferences. These all changed,” shared AboitizLand CEO Dave Rafael. “With the acceptance of work from home setup and giving priority to open spaces and amenities that sup-

port better work-life balance, the trend started to shift to homes that offer larger open spaces and promise a better quality of life for families.”

Seafront Residences, located in San Juan in Batangas, had residents moving in at the onset of the pandemic. As of February of this year, 46 house and lot units and 4 lots were officially turned over to buyers.

Seafront Residences offers homebuyers options of house and lots, lots only, and genuinely low-density, 3-story villas designed by renowned Modern Filipino advocates BUDJI+ROYAL Architecture+Design. Families and homeowners who do a lot of entertaining will find the 100 to 150-sq-m Seafront homes suitable for their lifestyle. On the other hand, the 1 to 2-bedroom units of Seafront Villas will surely appeal to single-child families, couples and single young executives. Add to that the incredible views of the Tayabas Bay and Mt. Banahaw they get to admire from their azoteas and balconies while working. That’s literally working from paradise!

AboitizLand commissioned no less than globally renowned thought leader on new urbanist communities DPZ CoDesign of Florida, to master plan this premier beach community.

The resulting work is an imprint of AboitizLand’s more than 25 years of experience in curating land to craft neighborhoods that are

sustainable and lasting, complemented by DPZ CoDesign’s expertise on New Urbanism and capacity to translate visions into actual human-scaled communities.

The array of well-thought amenities includes a beachfront clubhouse with multipurpose hall and function rooms, a view tower, a play area, a basketball court, and adult and kiddie pools. The second phase of the community will also have its own Crest Clubhouse, a social venue with multipurpose halls and a swimming pool.

A highly anticipated annual activity at Seafront Residences is the Summerfest where interested buyers and existing vecinos can have a taste of the wonderful life at this beachfront community. Children and adults alike will love the food and other fun activities while staying safe thanks to strictly implemented national safety standards.

What’s more, the price of a Seafront home has since appreciated by as much as 100 percent for the house and lots since its launch in 2017. Lots have appreciated much more at almost 185 percent, making it a brilliant investment over time. Life’s certainly better here. To know more about how to wake up every day to a stunning view of the sea, visit https://www.seafrontresidences. com.ph/ or www.aboitizland.com.

Cebu Landmasters declares cash dividend to mark 2020 performance

D

ESPITE a nationwide lockdown in 2020, Cebu Landmasters Inc. achieved record reservations sales of P14.25 billion in addition to expanding to new project areas like Bohol. Consequently, the firm declared a regular cash dividend.

The cash dividend equivalent to 25 centavos per share was approved during the board meeting held last March 16. Shareholders on record as of April 16, 2021 will be entitled to

the dividends to be paid out in May. The company’s P14.25 billion sales take-up in 2020 represents a 12.4-percent growth from the previous year’s P12.67 billion.

A recent market study by Santos Knight Frank (SKF) named Cebu Landmasters Inc. (CLI) as the leading residential developer in the Visayas and Mindanao with the largest market share from among real-estate firms providing condominium projects and subdivisions in the region as of 2020.

The study disclosed that CLI accounted for 18,683 units or 12 percent of the available 86,126 units in VisMin pulling ahead of developers operating nationwide based on Q3 2020 data.

The company has declared a cumulative amount of 60 centavos per share of cash dividends since it went public in June 2017. In 2020, it paid-out 25 centavos per share of dividends.

Cebu Landmasters also recently announced a 123-percent stock dividend in 2021, which

was approved by the stockholders during its special stockholders’ meeting last February 26, 2021. The stock dividend is meant to strengthen the capital base of the listed company that now has more than P50 billion in total assets, and to prepare the firm for any significant equity raising opportunities. The stock dividends will be sourced from the increase in authorized capital stock of CLI upon approval of the Securities and Exchange Commission.

P

IK, the largest homebuilder in Russia and Europe in terms of market capitalization among public homebuilders and 2020 area of construction, is set to expand its footprint to key markets in Asia, starting with the launch of its first real-estate project in the Philippines.

With over 25 years in the industry, PIK, with its headquarters in Moscow, Russia, has built homes in major cities in Russia, giving about 500,000 households high-quality urban homes. An active trader in the Moscow Stock Exchange, PIK has a market capitalization of $6.7 billion and has gained $4.3 billion in revenue in 2019 alone. The homebuilder also leads in landbank with 11 million square meters, as well as area under construction at 7 million square meters.

Classified as a systemically important company for the Russian economy especially since it has proved to be resilient to ride out the pandemic, PIK plans for long-term expansion in the Philippines, building its landbank in key areas in Metro Manila.

PIK disclosed that the country was its main choice for expansion in Asia due to its favorable market conditions and its rising demand for quality homes. Additionally, Manila’s similarities with Moscow in terms of consumer demands and behavior, as well as the urban environment were main factors considered

by PIK in choosing a city to build in.

Locally, HDRP Group Corp., subsidiary of the PIK, promises to deliver outstanding innovations to future developments, allowing Filipinos to enjoy upmarket, high-quality urban environments that resonate distinctively European aesthetic, quality, and expertise. The homebuilder aims to start its expansion and showcase its expertise by pushing forward with its maiden project in the country, One Sierra in Mandaluyong City.

A combined effort of an international team of experts and designers, One Sierra is aimed toward the mid-high-end market with a keen eye for quality. The project is a low-density residential building with only 10 units per floor, totaling just 250 units spread across 30-stories starting on the fifth floor. This allows for greater privacy and better use of the building’s common amenities, which include a swimming pool and deck area, gym and wellness area, and function room.

Buyers can choose from spacious studio, one bedroom, two bedrooms, or small-office/ home-office (SOHO) units, all ranging from 32 to 84 sq m.

Named for its location amid Mandaluyong City, One Sierra is strategically located along Edsa highway, accessible to Metro Manila’s Central Business Districts and main commercial areas.

For more information about One Sierra, please visit http://one-sierra.com.

FEMALE FRENCH SPORTS JOURNALISTS UP IN ARMS

By Sylvie Corbet The Associated Press

P

ARIS—More than 150 female sports journalists in France denounced sexism, harassment and discrimination they said they routinely face from colleagues and people commenting on social media.

“It’s time for us, female sport journalists, to get united and put pressure” on the industry, the women wrote in an appeal published by Le Monde newspaper Sunday amid global debate about sexual misconduct.

“We want to be at the forefront,” the appeal states. “In 2021, sport handled by men for men about men is no longer tolerable. Treating women as inferior in sports newsrooms is no longer tolerable.”

Signatories pointed to figures from the top French media watchdog, the Superior Audiovisual Council, or CSA, showing that women’s voices were heard in 13 percent of all radio and TV sports coverage in France last year. About half of France’s journalists are women, although they make up 10 percent of the country’s 3,000 sports journalists, the appeal noted..

A documentary broadcast by French television Canal+ on Sunday evening featured several sports journalists discussing the sexist remarks and harassment they encountered at work or on social media.

One of the journalists who spoke out was Charlotte Namura-Guizonne, who used to work on France’s most prestigious TV show devoted to soccer.

“I have been humiliated and insulted during an advertising break. In front of sport commentators. Guests. Public...No sanction. No excuse. Never. Traumatized and a feeling not to be protected,” Namura-Guizonne tweeted. She cited the distressing environment as among the reasons she left the show in 2019.

The director of the documentary, sports journalist Marie Portolano, said the film was intended to denounce a “way of thinking” in the wake of the #MeToo and other feminist movements. Along with accounts of sexual harassment and sexist remarks, the documentary also highlights the meaningless roles some women were given on TV sports shows where they were mostly asked to look good.

Online news website Les Jours and French newspapers reported that part of the documentary focusing on well-known sports

commentator Pierre Menes, who works for Canal+, was removed before broadcast at the television channel’s request.

In a 2011 video widely shared on the social media, Menes was seen grabbing a journalist and kissing her on the mouth without her consent during a television show.

Canal+ and Menes did not comment on the reports.

Interior Ministry spokeswoman Camille Chaize tweeted on Monday that kissing someone without consent “is a sexual assault punished by law” of up to five years in prison and a fine of 75,000 euros ($89,560).

In 2017, a tennis player had his French Open credential revoked because he grabbed a female reporter and kissed her on the neck during a live TV interview at the tournament.

Sports

FIELD DAY FOR HEALTH-CARE WORKERS Jessica Sherman, an advanced

BusinessMirror

registered nurse practitioner with Virginia Mason Franciscan Health, throws a baseball to a colleague in the outfield of T-Mobile Park, the home of the Seattle Mariners, on Monday in Seattle. The Mariners invited health-care workers to play catch so they could experience the ballpark ahead of Major League Baseball’s opening day on April 1, and as a way of saying thanks to workers throughout the region who have battled the Covid-19 pandemic in the past year. AP

B8

| Wednesday, March 24, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

AFTER FANS, FOREIGN VOLUNTEERS OUT, TOO T

OKYO—Volunteers from abroad will not be allowed into Japan for the postponed Tokyo Olympics, organizers said Monday.

The announcement came two days after Tokyo organizers said they would ban international fans from coming into Japan. Both measures are aimed at preventing the spread of Covid-19.

Organizers said a limited number of volunteers might be allowed if they have special skills.

“I’m really sorry, but we have decided there is no other choice but to drop the plan,” said Toshiro Muto, the CEO of the organizing committee.

Organizers had planned to use about 80,000 unpaid volunteers. The Tokyo Metropolitan Government had lined up 30,000 more. Most, of course, are from Japan. It’s not clear how many will be needed with few overseas fans in attendance.

Japan’s Kyodo news agency, quoting “sources close to the matter,” said around 500 overseas volunteers would be given exemptions to enter Japan.

The Olympics are to open on July 23 with 11,000 athletes, followed by the Paralympics on August 24 with 4,400 more. Athletes will operate inside a bubble, a plan that calls for limited contact with outsiders.

The first big test for the Olympics begins Thursday with the torch relay starting from northeastern Japan. The relay will last 121 days, involve 10,000 runners, and end at the opening ceremony in Tokyo’s new National Stadium.

$67M ON TECHNOLOGY FOR ABSENT FANS? JAPAN’S top telecommunications company is getting 7.3 billion yen—about $67 million—in taxpayers’ money to design mobile tracking software to curb the spread of coronavirus infections during the Olympics.

There’s one catch: Few Olympic fans from abroad will be around to use it.

NTT Communications Corp., a group company of Nippon Telegraph and Telephone Corp. and a domestic sponsor of the Tokyo Games, heads the consortium developing the app in multiple languages that is set for release in June.

Domestic sponsors have contributed a record of $3.5 billion to the local organizing committee, a total about three times larger than any previous Olympics. Contributions have been driven by giant marketing company Dentsu Inc., the official

marketing partner of the Tokyo Olympics.

Like other skeptics, opposition lawmaker Kanako Otsuji has said the app is a waste of money.

“When there will likely be no spectators, is this the time to be designing an app for fans? The Japanese government has failed over and over in digital innovation, but it’s going to have success with this new app?” she said on her YouTube channel last month.

Users are to download the app in their cell phones so their whereabouts can be monitored with satellite technology.

In theory, it tracks infections. But it all must be done in good faith and is effective only if people use it honestly and diligently to record their health conditions and warn others of outbreaks.

The NTT app costs nearly 20 times as much as an earlier glitch-plagued tracking app, called Cocoa, for “Covid-19 Contact Confirming Application,” offered free to the Japanese public last year.

Japan now restricts people from entering the country because of the coronavirus pandemic, except for some essential travel and returning citizens.

NTT Communications declined comment,

referring queries to the government.

Tokyo-based NTT, founded in 1952, has boasted of close ties with the Japanese government. It’s now embroiled in a sprawling corruption scandal centered around lavishing entertainment on ministry bureaucrats that oversee telecommunications.

Tokyo is officially spending $15.4 billion to prepare for the Olympics, but several government audits have suggested it’s at least $25 billion. All but $6.7 billion is public money.

While the pandemic has added to the costs, there will be few tourists to boost local coffers.

In 2019, the year before the pandemic hit, Japan raked in a record 4.8 trillion yen ($44 billion) from nearly 31.9 million tourists visiting from overseas, mostly from China and South Korea.

In contrast, international travelers to Japan last year, including foreign residents and families of Japanese, dwindled to 4.1 million people, according to the Japan National Tourism Organization. No money figure was available.

Domestic tourism has also fallen to about half the previous year’s levels.

Magsayo aims for magnificent performance vs American foe

M

ARK “MAGNIFICO” MAGSAYO aims for nothing less than a magnificent performance against rugged American Pablo Cruz in their non-title featherweight fight on April 10, hoping a convincing victory will catapult his career to juicier deals.

International matchmaker Sean Gibbons told a virtual press conference on Monday that the unbeaten 25-year-old Magsayo (21-0 win-loss record with 14 knockouts) would definitely be breathing fire in his second fight under Premier Boxing Champions (PBC) of Al Haymon.

“For Mark Magsayo, he was lucky enough that he had a visa. He was able to get here [US] by July and had a great fight in October to get his career back on track after a quite long layoff,” said Gibbons, referring to Magsayo’s split decision victory over American Rigoberto Hermosillo in a non-title fight last October 3 in Los Angeles.

“We have to thank the PBC and Al

MAGSAYO

Haymon for resurrecting his career and keep it going. This is the fight that will put Mark into the next step, hoping we’ll fight a world title either WBA [World Boxing Association] or an IBF [International Boxing Federation] title-eliminator,” Gibbons added.

Magsayo said his trainer, Hall of Famer Freddie Roach, instructed him to go for the knockout against the 34-year-old Cruz (21-3 win-loss record with six knockouts).

“We have almost the same record but I got the upper hand because I have no loss, he has three,” said Magsayo of Tagbilaran City. “He loves to move forward during fights so coach Freddie’s instruction is to knock him out.”

The Magsayo-Cruz fight is one of the supporting fights of the main bout between IBF super flyweight champion Jerwin Ancajas and Mexican challenger Jonathan Javier Rodriguez at the Mohegan Sun Arena in Uncasville, Connecticut. Josef Ramos

Black rates Pasaol as potential offensive threat out of UAAP

By Josef Ramos

M

ERALCO Head Coach Norman Black expects heavy and big time contributions from the 6-foot-3, 214-lb Alvin Pasaol who the Bolts picked at No. 9 in the recent Philippine Basketball Association (PBA) Rookie Draft.

A burly and aggressive all-around player, Pasaol will bring to the Bolts’ arsenal an inside game he mastered and polished playing 3x3 for more than two years, “I’ll put him in a category of the guys that came out of the UAAP [University Athletic Association of the Philippines] like big time scorer James Yap, Terrence Romeo, Allan Caidic and Kenneth Duremdes, guys who can fly out and score,” Black told BusinessMirror on Tuesday. “So I am hoping he will have an impact on our team particularly on the offensive end of the court.”

Pasaol, 25, is playing out of University of the East like Yap and Caidic and was a former Chooks-to-Go Pilipinas 3x3 star.

He is expected to give a new dimension to Meralco’s offensive game that would complement high-leaping guard Chris Newsome, sweet-shooting Allein Maliksi and another al-around wingman, Mac Belo.

“He will bring us an offensive threat that we really haven’t had the past years,” added Black of Pasaol who averaged 24.4 points, 11.0 rebounds and 1.9 steals per game for UE in UAAP Season 81.

Asked how he would fare on defense, Black said “I will have to find out.”

“I know he is a good defensive rebounder but I haven’t seen him defend individually,” he said.

The Bolts have been doing scrimmages at the Meralco Gym at the Ortigas Center since last week but have yet to play five-on-five.

Pasaol, through his agent Marvin Espiritu, is expected to formally sign his contract with Meralco this week.

“We’re looking at either a two or three-year rookie contract. But we still need to finalize it,” said Espiritu, who didn’t elaborate.

FORMER University of the East Red Warrior Alvin Pasaol brings his act to the pro league.

Scandal-rigged, most expensive Olympics ever Al Mendoza | alsol47@yahoo.com

THAT’S ALL CONTROVERSIES have become a dime a dozen in the run-up to the Tokyo Olympics.

First, a bribery scandal. Second, a sexist remark. Third, a body shaming.

What’s next is anybody’s guess.

At the rate the Olympiad is absorbing black-eyes, it might yet succumb to a surge of scandals instead of coronavirus infections.

Hasn’t it been postponed already from 2020 to 2021, the Games getting reset to July this year due to the pandemic?

The Tokyo Games took its first major blow when Tzunekazu Takeda, a big gun from Japan’s Olympic movement, was linked to an alleged bribery scheme in the bidding process within the International Olympic Committee (IOC).

Although it was unproven, Takeda resigned—an honored tradition in Japan where a mere whiff of corruption could trigger a quick quit from a position of might.

Not quite the same if that happened in the Philippines. Sigh.

Next, Yoshiro Mori, chief of the all-toopowerful Organizing Committee of the Tokyo Olympics, accused women “of talking too

much” during meetings.

Realizing, quickly, that that was a gendersensitive remark and downright offensive to women worldwide, the 83-year-old Mori resigned irrevocably.

Not quite the same if that happened in the Philippines. Sigh.

Seiko Hashimoto, Mori’s 56-yearold lady successor who was an Olympic medalist, immediately promised to make it a “40-percent female membership” from 20 percent in the composition of the Japanese Olympic board.

And just recently, Hiroshi Sasaki, the creative director of the massively critical opening and closing ceremonies of the Summer Olympics set to open on July 23, called a ceremony performer “OlymPIG.” Although said, obviously, in jest, Sasaki resigned immediately for “body shaming” actress Naomi Watanabe, who is on the heavyset side, aka fat.

Not quite the same if that happened in the Philippines. Sigh.

With these scandals, coupled with the

Covid-19 crisis dogging the Tokyo Games, organizers, now limping, struggle to plod on, even as record costs are also mounting.

With international fans banned, the hosts are practically straight-jacketed as to how they’d recoup local sponsorship support now pegged at a record-high $3.5 billion.

Japan has already spent $154 billion, although it could be twice as much that, according to the University of Oxford, making it the most expensive Olympics in history.

A massive loss looming in the name of sports? Sigh.

THAT’S IT If we skip the Hanoi SEA Games in November due to Covid-19 issues as being seriously considered by chef de mission Ramon Fernandez, no hard feelings. Consider: Our athletes have been almost deprived of training facilities since three of our major venues— PhilSports in Pasig and Manila’s Rizal Memorial Sports Complex and Ninoy Aquino Stadium— have been transformed into quarantine and swabbing centers. Indeed, the pandemic is no laughing matter.