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Thursday, March 26, 2020
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Intellectual property filings hit record high
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By Elijah Felice E. Rosales
@alyasjah
ntellectual property (IP) filings increased over 9 percent in 2019 to hit an all time high, but the government is doubtful this can be sustained this year with firms struggling to cope with the ill effects of the coronavirus pandemic.
10.44 percent to reach 39,399, from 35,672, as firms from various sectors, mostly in the agriculture sector, move to register their goods and services. Further, the IPOPHL reported a 7.16-percent jump in applications for industrial design (ID), to 1,631 in 2019, from 1,522 a year ago. The agency attributed the improvement in ID filings in means of transport hoisting; furnishing; packages and containers for the movement or handling of goods; f luid distribution equipment, sanitar y, heating venti lation and air conditioning equipment, solid fuel; and graphic symbols and logos, surface patterns and ornamentation. Filings for utility model grew
nearly 4 percent to 2,228, from 2,144, with applications coming mostly from food chemistry, basic materials, handling, furniture, games and medicines. IPOPHL data showed filings for patent also slightly increased to 4,024, from 3,962. Applications under this type was accounted for largely by the Patent Cooperation Treaty at 80 percent, or 3,223. “Based on the country of origin, the United States, Japan, and China were the top filers. Top industries for patent claims were in pharmaceuticals; organic fine chemistry; biotechnology; digital communication; and food chemistry,” the IPOPHL said in its report. The only category that registered a decline are copyright de-
posits that dropped by an annual rate of 7.55 percent to 1,862, according to the IP regulator. However, IPOPHL Director General Rowel S. Barba said the agency is still watching how the pandemic will affect IP applications. If there’s any trend that is worth watching, he bared it’s the surge in filings for trading names with the word “corona” in it. “While we hope we could sustain the filings growth, we are still weighing how the Covid-19 outbreak will influence filing activities in the Philippines. We are closely monitoring experiences in other countries to get a glimpse of what to expect,” said Barba. “There is one IP office that is reported to have a slowdown
while one reports a surge, particularly in trademark filings, as businesses scramble to associate their trading names with ‘corona,’ riding on the popularity of the virus. We hope to get a fuller view of its impact middle of this year,” he added. Amid the uncertainty, Barba said intensified work to raise IP awareness is needed more than ever. “Our presence should be truly felt albeit virtually during the enhanced community quarantine period. The current crisis pressures IPOPHL to encourage innovation and creativity to prosper with the goal of creating muchneeded solutions in these trying times,” he added.
The Intellectual Property Office of the Philippines (IPOPHL) on Wednesday disclosed IP filings last year rose 9.19 percent to a record high 47,282, from 43,300 in
2018. The 2018 figure is adjusted from the earlier reported 44,461 filings that year. Per type of IP, trademark registered the highest growth at
Pru Life UK extends premium grace period
Standard Chartered SMC hikes ethyl alcohol production for frontliners gears up for pandemic S S
By Bernadette D. Nicolas @BNicolasBM
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mid the rise in confirmed cases of coronavirus disease 2019 (Covid-19) locally and globally, Pru Life UK announced that it has extended its grace period for premium payments with due dates from March 16 until April 30. One the country’s top 3 life insurers, Pru Life UK, said on Wednesday that the grace period is extended from the standard 31 days to 60 days for all of its policyholders nationwide to ensure uninterrupted protection of customers during the Covid-19 health emergency. All payments made within the extended grace period shall be accepted with no interest charges. Pru Life UK Chief Customer Marketing Officer Allan Tumbaga said the health and safety of their customers is their top priority. “Pru Life UK understands their need for peace of mind, and more importantly, continued protection amid the Covid-19 outbreak. We understand the situation faced by our customers, and extending the grace period for premiums payment is one way we can help ease their financial burden and emotional distress in these challenging times,” Tumbaga said in a statement. The Insurance Commission earlier urged insurance companies to provide a more lenient policy regarding payment of considerations to ease the financial burden and to ensure continuous coverage for those affected by the pandemic. These included the extension of grace period for the payment of insurance premiums/contributions/installment amounts and or membership fees by at least another 31 days. This shall cover those fees that remain unpaid during the period from March 15 to April 13 or up to a later date deemed appropriate by the company. The Department of Health reported on Wednesday that the number of people with Covid-19 in the country has risen to 636 and the death toll reached 38. As of March 24, the World Health Organization said the number of Covid-19 infections worldwide went up to more than 370,000 and at least 16,000 people have already died from the virus.
an Miguel Corp. (SMC) said it is increasing its production of 70-percent ethyl alcohol to 100,000 liters per day to further serve the needs of frontliners, cities and provinces nationwide in the fight against the coronavirus disease 2019 (Covid-19). SMC President and COO Ramon S. Ang said the company has activated all the facilities of its liquor arm, Ginebra San Miguel Inc. (GSMI), to produce ethyl alcohol—used as a disinfectant and sanitizer—roundthe-clock. Ang thanked the Food and Drug Administration for its quick response in getting GSMI’s Cabuyao plant and the rest of its facilities to produce rubbing alcohol distributed to frontliners. “So far, we have donated 29,300
liters of 70-percent ethyl alcohol to 77 hospitals throughout Metro Manila, as well as the Department of Health [DOH], crisis centers, local government units, law enforcement agencies, and other vital institutions. This is just the start. As we navigate through the challenges, we will continue to provide help where it’s needed,” he said in a statement. He added: “This is our way of thanking and supporting all our brave doctors, nurses, policemen, military, security personnel, delivery workers, employees of vital industries and so many others who are on the frontlines of this battle, saving lives and making sure the system is in order.” Currently, the bulk of alcohol production is being done at GSMI’s Cabuyao plant in Laguna. However,
with other GSMI facilities producing the same rubbing alcohol, the reach of the initiative will widen and benefit more Filipinos nationwide. “Right now we are only able to serve NCR, but we have already mobilized our other facilities to produce alcohol as well for nationwide delivery,” Ang added. These include Ginebra plants in Mandaue, Cebu; Sta. Barbara, Pangasinan; Destileria Bago in Negros Occidental, Cauayan, Isabela, and Ligao, Albay. The government has placed the entire Luzon island under enhanced communit quarantine to prevent the spread of Covid-19. The DOH reported on Wednesday that there are now 636 confirmed Covid-19 cases in the Philippines, 38 deaths and 26 recoveries.
RCBC bond offering oversubscribed
By Tyrone Jasper C. Piad
R
izal Commercial Banking Corp. (RCBC) announced on Wednesday that its P3-billion bond offering was subscribed by over two times, concluding the public offering period earlier than scheduled. The offer period began Monday and was supposed to end by Friday, but the Yuchengco-led bank closed it after three days. “The Bank decided to shorten the public offer period in order to provide sufficient time for the submission of the documentary requirements in light of the logistical challenges given the enhanced community quarantine brought about by Covid-19 [coronavirus disease 2019],” RCBC said in a disclosure. “This is in line with RCBC’s commitment to restore normalization
in the capital markets and support business activity despite current execution challenges,” it added. Each bond has a tenor of two years and carries a coupon rate of 4.848 percent per annum. It was offered in denominations of P100,000 and increments of P10,000 thereafter. The issuance is expected to be listed on the Philippine Dealing and Exchange Corp. on April 7. Proceeds of the fixed rate bond offering are allocated to finance asset growth, maturing obligations and other general corporate matters. RCBC tapped Hongkong and Shanghai Banking Corp. Ltd. (HSBC) as the sole lead arranger and bookrunner of the transaction while RCBC Capital Corp. served as financial advisor. HSBC and RCBC acted as selling agents for the bond issuance.
This bond offering is the fourth issuance from RCBC’s P100-billion bond and commercial paper program, appointing HSBC and RCBC Capital as the joint arrangers of the transaction. RCBC first participated in the bond market through its P15billion Association of Southeast Asian Nations (Asean) green bond issuance in 2019. This was followed by two more Asean sustainability bonds amounting to a total of P15.5 billion in the same year. Supported by strong core business, margins and trading gains, the Yuchengco-owned bank ended 2019 with a 25-percent growth in net earnings at P5.4 billion. RCBC shares surged by 40 centavos or 2.42 percent to close at P16.90 apiece on Wednesday, in line with the 5.31-percent uptick for the benchmark index.
ta n dard C h a r tered Bank has adopted several measures to ensure business continuity and employee safety after Luzon was placed under an enhance community quarantine due to the coronavirus disease 2019 (Covid-19) pandemic. “We have taken a series of actions to reduce the risks to our people, clients and business activity and are working closely with authorities, while continuing to transact business and serve our clients,” the banking giant said in an advisory on Wednesday. Standard Chartered group is reducing the exposure of its employees to the virus by adhering to travel restrictions imposed by the government and health department. It has also minimized physical interactions by employing work- f rom -home a r r a nge ments, putting up split locations and cancelling or delaying events. Standard Chartered’s offices in Makati City and Quezon City are currently operating with skeletal workforce and on flexible working arrangement than began last March 17. “This is to ensure continuity of our service to our clients while supporting efforts to
halt the further spread of the coronavirus,” the bank said. “We have a well-established business continuity plan for pandemic emergencies such as this.” The bank also reminded the customers that its digital platforms are readily accessible for transactions such as cash management, trade, foreign exchange and securities services. “Despite these challenging times, we continue to invest in our digital offerings and experiences to ensure that clients can do business with us across the globe, 24/7,” it added. This was in line with Bangko Sentral ng Pilipinas’ call to accomplish banking transactions via online channels at home to avoid further transmission of the virus. Apart from Standard Chartered, banks earlier ensured that they will remain operational to serve their customers as they implement business continuity plans. The Bankers Association of the Philippines earlier assured that banks will always make cash available through automated teller machines and digital platforms for payments of goods and services. Tyrone Jasper C. Piad
THANKING FRONTLINERS To express appreciation and gratitude for the invaluable
efforts of frontline health workers and law enforcement officers who are working tirelessly to help prevent the spread of coronavirus disease 2019 (Covid-19) in the country, NutriAsia gives Locally Dalandan Blended Juice Drink to various hospitals and checkpoints to help frontliners boost their immune system and stay well-hydrated.