BusinessMirror May 03, 2021

Q1 GOVT BORROWINGS UP 44% TO P1.4 TRILLION

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n Monday, May 3, 2021 Vol. 16 No. 201

P25.00 nationwide | 2 sections 18 pages |

Govt, biz pitch wage subsidies in pandemic

By Tyrone Jasper C. Piad

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TREASURES BENEATH THE SEA: That’s what the beach town in Glan, Sarangani offers, as seen from these tantalizing photos showcasing its marine biodiversity. “There are so many things that Glan can be proud of that we have kept for so long. It is high time for us now to discover all those and show it off to the world as one of the most beautiful municipalities in the Soccsksargen Region and the country,” Mayor Vivien Yap was quoted saying in a press release by the Department of Tourism’s Region 12 office. Sumbang Point and Binuni Reef, both located on the eastern section of Sarangani Bay, were recently formally opened for recreational diving. PHOTOS COURTESY OF DOT-REGION 12

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By Bernadette D. Nicolas

@BNicolasBM

HE national government’s gross borrowings in the first quarter of this year reached P1.38 trillion, jumping by 44.4 percent compared to last year due to higher domestic borrowings.

Data from the Bureau of the Treasury showed the amount of gross borrowings from January to March this year was higher than P956.72 billion in the same period in 2020.

Gross domestic borrowings surged by 60.7 percent to P1.3 trillion in the first quarter of this year from last year’s P810.03 billion.

The government’s short-term borrowings from Bangko Sentral ng Pilipinas, amounting to P540 billion, comprised the bulk of this year’s gross domestic borrowings.

The government also borrowed P463.32 billion through its sale of Retail Treasury Bonds and Premyo Bonds.

PORK TARIFF, MAV ‘COMPROMISE’ UP AT SENATE CAUCUS

By Butch Fernandez

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@butchfBM

ENATE President Vicente Sotto III is calling an allsenators caucus on Monday (May 3) as backchannel negotiations continue between the Executive and Congress on a possible compromise over the rate by which pork tariffs will be cut, and the level by which the minimum access volume for pork importations would be increased.

In an interview with DWIZ at t he wee kend , Sot to e xpressed hope a compromise acceptable to all parties would be reac hed , st ressi ng t h at senators are not only in dis-

cussions with the Executive, but also with leaders of major local producer groups.

The talk of a compromise began with the April 27 appearance at the Senate Committee of the Whole of Finance Secretary Carlos G. Dominguez III, who as head of the economic development cluster (EDC) took responsibility for the recommendations and final decision, as approved by the President, on the substantial declines in tariffs, and the increase in MAV to 400,000 metric tons. The local hog sector had protested these moves, saying tariff cuts and huge importation quotas would effectively wipe out the P300-

billion industry, already reeling from the impact of the African Swine Fever (ASF). Dominguez had told senators during the April 27 hearing that they were “open to a compromise” on the issues.

In his DWIZ interview at the weekend, Senate President Sotto said “I’m still hopeful there will be a good exchange by Monday or Tuesday after we get back to the Executive,” referring to the offer and counteroffer that both sides had been making, with senators talking separately as well with the hog sector on the new figures on tariffs and MAV that they were discussing with the EDC. Continued on A4

OTH the public and private sector expressed the need to provide wage subsidies for the labor force amid the ongoing pandemic to strengthen economic recovery.

Trade Secretary Ramon Lopez is hoping to roll out soon the proposed wage subsidy for private workers to aid the employees. The program aims to provide subsidy of P8,000 per month for a maximum of three months to struggling workers, to be given via the establishment’s payroll system.

The proposed program, which is under the P1.14-trillion National Employment Recovery Strategy (NERS), targets to benefit 1 million workers. The budget for the planned wage subsidy initiative is still under review.

“This [wage subsidy program] will support the recommendation of the business and labor sectors of the need for a wage subsidy program or income support for heavily-affected industries. This would also be a form of pump-priming the economy,” the Department of Trade and Industry (DTI) chief said over the weekend.

PCCI backs call

PHILIPPINE Chamber of Commerce and Industry (PCCI) President Benedicto V. Yujuico also called for a wage subsidy program, noting that any government assistance is welcome, especially during these economic and health crises.

“The wage subsidy would provide some relief for busineRTsses in paying employees’ compensation and allow for some savings,” he explained.

See “Borrrowings,” A2

PESO EXCHANGE RATES n US 48.3900

@Tyronepiad

n JAPAN 0.4443 n UK 67.4702 n HK 6.2333 n CHINA 7.4768 n SINGAPORE 36.4905 n AUSTRALIA 37.5894 n EU 58.6777 n SAUDI ARABIA 12.9047

See “govt,” A2

Source: BSP (April 30, 2021)

News

BusinessMirror

A2 Monday, May 3, 2021

Govt…

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L ope z sa id t he proposed subsidy initiative will prioritize the micro, small and medium enterprises (MSMEs), giving more focus on those which are implemented or are currently under a flexible work arrangement. The program also targets MSMEs that temporarily closed but intend to resume operations.

The PCCI advocated the aid to the labor force to go hand in hand as well with the government facilitating easier access to financing.

“Government must consider financing local firms through the provision of low-interest or zerointerest loans, as well as purchase of zero-coupon bonds or zero-dividend preferred shares,” Yujuico said.

He added the government should also consider easing document requirements and services fees related to financing.

Under the NERS initiative, Lopez explained that the government extends support to establishments through low-interest loans, deferment of applicable fees and upgrading of processes.

The relief options, the DTI chief said, will help the country preserve jobs and encourage employment generation to boost the economic health of the country.

“Among the recommendations of the business sector include facilitating easier access to financing, and providing entrepreneurial education and business starting assistance, among others. From the labor sector, these include assisting startup businesses, improving financial literacy, and providing trainings on entrepreneurship,” he added.

Through Small Business Corp.’s Covid-19 Assistance to Restart Enterprises (CARES) program, DTI offers a lending facility for MSMEs severely affected by the lockdown protocols amid the pandemic.

Business, consumer confidence

TO boost the economy, PCCI stressed the need to rebuild the business and consumer confidence.

The business group, for one, is encouraging the government and Filipino consumers to buy local.

“Furthermore, local businesses should also be assisted in taking advantage of foreign market demands and maximizing export potentials through marketing and matching,” Yujuico said.

The PCCI chief called on the government to also ensure consultations with the private sectors in crafting policies and programs, noting that there should be “proper targeting” of beneficiaries of proposed assistance.

Yujuico said it would be helpful if the government consider waiving renewal of existing permits and licenses during pandemic, in addition to removing government transaction fees.

“There must be government mechanisms and support provided to address the rising costs of inputs and logistics, as well as a conduct of price reviews,” he added. The Philippine Competition Commission is currently investigating if there is price-fixing among industry players in the logistics sector that led to high freight rates.

Apart from these, the business sector renewed its call for speedy vaccination rollout, “harmonized and eased” mobility restriction and safe reopening of the economy.

2,000 OFWs in Afghanistan lose jobs amid US pullout

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that so far 80 diplomatic protests have been filed against China.

For his part, Defense Secretary Delfin Lorenzana had repeatedly told Beijing to pull out its vessels after over 200 such maritime militia boats were spotted at Julian Felipe Reef in early March. He ordered more patrols in the area.

Lorenzana also scoffed at Beijing’s excuse that the boats were fishermen “seeking shelter” from bad weather, noting there were no reports of any weather disturbance during the pe-

By Recto Mercene

@rectomercene

HE 2,000 overseas Filipino workers (OFWs) in two American military bases in Afghanistan will soon be rendered jobless as the US and Nato alliances start withdrawing their military forces from Kabul.

The Filipinos’ role in America’s war of “Enduring Freedom” comes to an end as some 2,500 American troops leave Bagram and Kandahar starting May 1; the phased pullout is expected to end in September 2021. That end coincides with the 20th anniversary of the 9/11 attacks, blamed on Islamic extremists led by Osama bin Laden, who had found sanctuary for years in Afghanistan.

The US and Nato forces have had a presence in Afghanistan for almost 20 years. At its peak, their joint presence

numbered 120,000 troops.

The withdrawal comes amid escalating violence, with Afghan security forces on high alert for reprisal attacks by the Taliban terrorists.

There are 2,500 US troops in Afghanistan who are ending what President Joe Biden called “the forever war,” although the number varies and is currently about 1,000 more than the official figure.

Also, up to 7,000 foreign forces remain in the coalition, majority of them part of the Nato troops.

The alliance’s withdrawal signals the end of the OFWs presence inside the two military bases, where, for almost two decades, they were the highest paid group of Filipino migrant workers, says recruitment consultant, Manny Geslani.

Filipinos working inside US bases in Afghanistan will be slowly returning to the Philippines, Geslani said, following the US military’s withdrawal.

The deployment of American troops in Afghanistan started two years after the September 11, 2001 terror attacks on the Twin Towers in New York and on the Pentagon.

Geslani said the remaining Filipinos in Kandahar will leave this week as the base ends all military operations by May 1, 2021. In Bagram, many civilian contractors have also starting packing up, including the rest of the OFWs. A few hundred Filipinos will also lose their jobs within the Nato bases as Nato chief Jens Stoltenberg said the alliance had agreed to withdraw roughly 7,000 forces

in Afghanistan, matching Biden’s decision to begin a final pullout by the first of May. The OFWs have been working in Bagram and Kandahar almost as soon as the US started its war against the Taliban in 2003.

The US formed a coalition of countries like the UK, France, Canada and other NATO members, to engage the Taliban.

The remaining OFW in Bagram and Kandahar airfields are doing mostly logistical and maintenance work for the US Armed Forces.

Geslani said some of the OFWs have returned to the country, while the OFW’s international contractors have also finished their contracts.

The signing of the deal with the Taliban in February 2020 initiated a phased withdrawal of the roughly 12,000 American military personnel who were still in the country.

The agreement also included a prisoner exchange and direct negotiations between the Taliban and Afghanistan’s government over the country’s political future.

‘SHIFT TO AUTOMATION MAY DELAY JOBS RECOVERY’

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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OURISM workers in the CaviteLaguna-Batangas-Rizal-Quezon (Calabarzon) and MindoroMarinduque-Romblon-Palawan (Mimaropa) regions accounted for the largest of number of beneficiaries under the Department of TourismDepartment of Labor and Employment cash assistance program under the Bayanihan 2 Law. This developed as the Asian Development Bank (ADB) warned that the shift in automation would delay in the recovery of jobs in the country.

The Covid-19 pandemic has also taken a toll on the tourism sector that it may be a while for it to get back on its feet.

In a news statement over the weekend to commemorate Labor Day, Tourism Secretary Bernadette Romulo Puyat announced that some P2.4 billion in cash aid have been approved for release to 465,530 tourism workers nationwide.

Under the Bayanihan 2 Law, some P3 billion have been allocated for direct financial aid to tourism workers, and P100 million for tour guides’ training.

Of the total beneficiaries, 39,429 are from National Capital Region (NCR);

26,908 from the Cordillera Administrative Region (CAR); 45,709 from Region 1 (Ilocos); 17,293 from Region 2 (Cagayan Valley); 55,974 from Region 3 (Central Luzon); 61,392 from Region 4A (Calabarzon); 56,955 from Region 4B (Mimaropa); 11,468 from Region 5 (Bicol); 45,429 from Region 6 (Western Visayas); 31,712 from Region 7 (Central Visayas); 13,327 from Region 8 (Eastern Visayas); 6,609 from Region 9 (Zamboanga Peninsula); 13,939 from Region 10 (Northern Mindanao); 26,095 from Region 11 (Davao); 5,661 from Region 12 (Soccksargen); and 7,630 from Region 13 (Caraga).

About 4.8 million tourism workers have been affected by the Covid-19 travel restrictions.

Slow recovery: ADB AT the Task Group on Economic Recovery-National Employment Recovery Strategy (TGER-NERS) Job Summit on Saturday, ADB country director Kelly Bird said, “A slow recovery could lead to diminished productive capacity and lost jobs. Some sectors, like tourism may take time to recover. Businesses may shift to digital technologies, reshaping work, and the pandemic may accelerate the shift to automation. Consequently job seekers and

Borrowings…

Meanwhile, domestic borrowings from fixed-rate Treasury Bonds hit P199 billion while those from Treasury Bills stood at P99.76 billion in the first three months of 2021.

On the other hand, gross external borrowings from January to March this year fell by 45.8 percent to P79.45 billion from last year’s P146.69 billion.

In the first quarter of this year, program loans cornered 78.6 percent or P62.4 billion of gross external borrowings. The remaining P17

Senate reso…

The DFA reported on Thursday

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riod the boats were there.

National Security Adviser Hermogenes Esperon told CNN Philippines last week the actions taken by Locsin and Lorenzana apparently were effective.

Unified stand—Lacson

FOR his part, Sen. Panfilo M. Lacson said over the weekend top Philippine leaders must come up with a united stand on the West Philippine Sea issue instead of bickering, lest it expose a weakness that China can exploit.

Lacson also stressed that China’s

unemployed workers may be out of work for longer periods and become less employable.”

He noted some 1.7 million wage and salary jobs in the private sector had been lost in the 12 months to January, “and we have seen informal employment numbers swell is hundreds of thousands as displaced workers moved to the informal sector, unemployment remains elevated at around eight percent of the labor force.”

ADB’s US3.5-billion lending program this year, said Bird, will support infrastructure projects“that will create tens of thousands of construction and related jobs in the Philippines. Estimates show that around $1 billion of infrastructure investments, create an additional $1.5 billion in gross domestic product.”

Among the infra projects ADB approved for implementation this year are the Malolos-Clark Railway project, Edsa Greenways project, South Commuter Railway project, Davao Modern Bus project, Metro Manila Bridges project, and the Palawan Sustainable Tourism project to be implemented through the DOT and Palawan local governments.

DOT-DOLE beneficiaries “WE are hopeful that this financial

assistance will provide some relief to our most affected stakeholders and tourism workers during these difficult times,” said Romulo Puyat. “While it may help in the short term, we believe that the best way to help stakeholders, in the long run, is to develop a tourism industry that is stronger, more resilient, and more adaptable to change,” she stressed.

Of the total approved beneficiaries, 450,202 workers were from 15,982 establishments, organizations, and associations nationwide.

Individual applications reached 15,328.

As of April 28, some P1.63 billion have been released to 325,678 workers via designated payment centers.

Pending disbursement is about P699.3 million to 139,852 approved beneficiaries. Each beneficiary receives P5,000 in cash aid.

Relaxation of the definition of“tourism workers” to include habal-habal drivers, vendors, pilots of island-hopping boats, etc., enabled the DOLE to speed up the cash aid disbursement.

Also, tourism workers who had been able to tap the DOLE’s cash aid program under Bayanihan 1, were allowed to apply under the DOT-DOLE Bayanihan 2 program.

billion came from a project loan.

For March alone, gross borrowings soared by 65.9 percent to P617.3 billion this year from P372.15 billion in the same month a year ago.

Gross borrowings in March grew year-onyear as the government borrowed more from both domestic and external sources.

Broken down, gross domestic borrowings in March this year also climbed by 60.9 percent to P584.12 billion from last year’s

363.1 billion.

External borrowings in the same period, meanwhile, nearly quadrupled to P33.18 billion from only P9.05 billion in March 2020.

The government borrows to meet its spending requirements and to finance its budget deficit.

The country aims to borrow a total of P3.03 trillion this year, roughly the same amount it borrowed in 2020.

The Treasury has yet to release the outstanding debt data report as of the end of the first quarter of this year.

However, the last report showed the national government’s outstanding debt as of

end-February this year soared to a new record high of P10.406 trillion as the government continued to borrow more money to respond to the raging Covid-19 pandemic.

Of the total debt stock, 29 percent were sourced externally while 71 percent are domestic borrowings.

Finance Secretary Carlos G. Dominguez III earlier said they expect the national government’s debt this year to reach 57 percent of GDP. As of end-2020, the country’s debt to GDP ratio surged to 54.5 percent—a 14-year-high —coming from a record-low 39.6 percent in the previous year.

donation of Covid-19 vaccines should not be connected to the issue of Philippine sovereignty and territorial integrity in the West Philippine Sea, as doing so may cause division.

“The sad irony is that instead of coming up with a united front, we —especially our leaders—are bickering on the issue. What we need is a united position. Otherwise, we are just showing our weakness, one that China could exploit,” Lacson, who chairs the Senate committee on national defense, said in a separate radio interview.

“Our stand must start with upholding our sovereignty and territorial integrity. Vaccines have nothing to do with this issue,” he added.

He was reacting to Duterte’s remarks last week that Manila must tread carefully on the WPS issues because China is a “friend,” and pointed to the Sinovac Covid-19 vaccines the Philippines secured. This prompted critics to note that China’s donated vaccines represent a tiny fraction of the total of Sinovac doses secured by Filipinos, with the bulk, worth billions of pesos, paid for by the Philippine government.

Lacson said connecting the vaccine and West Philippine Sea issues will result in petty bickering among Filipinos, with some stressing the benefits of the donated vaccines from China, and others emphasizing the damage by China to our aquatic re-

sources. “Both issues should not be connected,” he said.

In the meantime, the Philippines must continue to enhance its ties with allies including the United States, Japan, Australia and Europe, to maintain a balance of power in the region, Lacson said.

He added the US already indicated it is prepared to back the Philippines as both countries have a Mutual Defense Treaty—but added the Philippines needs to take the initiative.

“The US has indicated it is bound by our Mutual Defense Treaty but it is the Philippines that must make the initiative. The US cannot be more aggressive than we are in the disputed area,” he said. Butch Fernandez

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PHL…

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This, after the IP office teamed up with the Asia Video Industry Association to curb piracy in the creative sector as well.

IPOPHL noted that the Food and Drug Administration through its Regulatory Enforcement Unit (REU) has been cracking down on counterfeit pharmaceutical products. The REU reported to NCIPR that it seized fake pharmaceutical products amounting to P5.48 million and P2.84 million in 2018 and 2019, respectively, during enforcement operations. During the seizure operations, REU said no counterfeit drug manufacturing activities were observed, IPOPHL noted.

“Regarding counterfeit apparels, the same efforts as that of online piracy are being undertaken by the NCIPR,” IPOPHL said. “Ironically, while the USTR reports that there are concerns regarding counterfeit apparels, the NBI’s [National Bureau of Investigation] efforts have been recognized by no less than the American Apparel and Footwear Association and the International Anti-Counterfeiting Coalition.”

IPOPHL said that NBI confiscated fake apparel amounting to around P12.04 billion in 2019 and P8.47 billion last year.

As for the Greenhills Shipping Center, the IP agency said that NCIPR continues to engage with its administration, the San Juan local government and others in addressing the selling of pirated goods. IPOPHL also created a technical working group to discuss the issues and to propose solutions.

Patent law, enforcement

USTR also flagged the “weak provisions in patent law” affecting the issuance of patents on certain chemical forms and the “ineffective” enforcement of IP due to lack of capacity, among others.

IPOPHL said that the concerns on said patent law were raised when the Cheaper Medicines Act was enacted in 2008. But, the agency said, it has addressed this by amending the Examination Guidelines relating to Pharmaceutical Invention involving Known Substances to provide administrative interpretation of Republic Act 9502 which is “The Universally Accessible Cheaper Medicines Act of 2008.”

Since the removal of the Philippines from the USTR 301 Special Watch List in 2014, IPOPHL said the issue on patent law for issuance of certain chemical forms has not been raised until the 2021 report on trade barriers. “However, we believe that this is an issue that has been settled already,” IEO stressed.

Meanwhile, the IPOPHL said that NCIPR’s hauling of infringing products worth billions from seizure operations proves that the country’s IP enforcement is effective.

“In terms of capacity building, the members of the NCIPR regularly undertake capacity building activities with international experts to update their skills in investigation and case build-up, including learning new trends and modus operandi of infringers,” IEO added.

Off the list

IN a statement over the weekend, IPOPHL Director General Rowel S. Barba said that the exclusion of the Philippines from the Special 301 report bodes well for the business sector. This helps promote the country as a “vibrant investment place for US and other foreign businesses,” he explained.

“Most especially, we are pleased with the removal of the erroneous finding that our own government uses unlicensed software, a claim which we have repeatedly disproved,” Barba added. IEO vowed to continue addressing all the threats on IP holders while educating Filipinos on the matter to encourage more creation and innovation.

“As technology evolves, the modus of counterfeiters and pirates also evolve and we have to keep pace with them so as to address the problem and this is what we are doing,” IPOPHL concluded.

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DENR to spend P265M for second phase of Manila Bay rehab project

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HE Department of Environment and Natural Resources (DENR) is set to spend P265 million for the second phase of the Manila Bay “Beach Nourishment Project,” along Roxas Boulevard in Manila, the BusinessMirror learned.

In an interview, Environment Undersecretary for Policy Planning and International Affairs Jonas R. Leones, confirmed with the BusinessMirror the existence of the project as well as the P265-million appropriation saying it is part of the continuing rehabilitation of Manila Bay. To be implemented by the Department of Public Works and Highways (DPWH), the Beach Nourishment project involves the dredging of garbage and silt and the dumping of filling materials.

The first phase of the project involved the overlaying of crushed dolomite from a mining town in Cebu province at a 500 meter-portion of the Baywalk along Roxas Boulevard.

The fund for the second phase is already downloaded to the Department of Environment and Natural Resources (DENR), but remains with the DENR as the project is yet to be transferred or

downloaded to the DPWH. “The fund is still with us,” Leones told the BusinessMirror.

For the second phase, details remain sketchy, he said, as the DENR and the DPWH have yet to finalize the project design and plan. Leones, however, said there is “still no MOA [Memorandum of Agreement] yet for the project.”

He told the BusinessMirror the idea is to replenish around 300 meters of the beach area from the Manila Yacht Club toward the US Embassy, near where the dolomite beach.

The first phase of the Beach Nourishment Project has a total appropriation of P389 million, part of the total P1.7-billion Manila Bay Rehabilitation Program.

Funding for the second phase was approved by Congress as part of the 2020 General Appropriations Act (GAA), according to Leones.

He said the DENR will provide details of the project once the MOA and plan for the project become available.

The 2020 budget for the operational plan for the DENR Manila Bay Coastal Management strategy is P1.347 billion.

Jonathan L. Mayuga

Editor: Vittorio V. Vitug • Monday, May 3, 2021 A3

‘Include contraceptives, health protocol in community pantries’

By Jonathan L. Mayuga @jonlmayuga

& Cai U. Ordinario @caiordinario

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ROUPS like the Commission on Population and Development (Popcom) are urging people behind community pantries to include contraceptives in their items and health protocols in their methods.

In a statement, Undersecretary for Population and Development (Popdev) Juan Antonio A. Perez III said contraceptives such as condoms and pills can address the public health emergency in teenage pregnancy.

Popcom said these modern contraceptives could fill a void in the rollout of family planning activities, which have been “greatly disrupted by the pandemic.”

“Popcom is very much supportive of community pantries as a form of collective action in alleviating the need for sustenance of our less privileged. We believe that they will welcome the addition of condoms and pills among the goods they will source—with the help of their local healthcare people, Perez said.

Perez said when providing family planning supplies, community pantry initiators should seek the support of local health personnel like barangay health workers

(BHWs) and barangay population volunteers (BPVs).

These personnel are knowledgeable of the individuals in their locale who need pills and condoms. The community pantry setup can also help facilitate the line of work of the said BHWs and BPVs. Apart from community pantries, family planning volunteers are also called upon to hand-out contraceptives in communities. Popcom said house-to-house distribution of methods of contraception are being undertaken in areas that are not under strict lockdown.

“As the most popular family planning method, pills need a prescription or enrollment in the family planning program. Our BHWs and BPVs can be invited to assist in dispensing such,” Perez said. “[Meanwhile], condoms may be freely given to those who are sexually active and want to avoid HIV infections and other sexually transmitted infections or STIs, as well as those who are mindful of preventing unplanned pregnancies,” he added.

Perez stressed the need to attend to women aged 15 years old to 49 years old since there are about 3,099,000 of them with unmet need for family planning exacerbated by Covid-19 based on the recent study of the University of the PhilippinesPopulation Institute and the United

Nations Population Fund.

With family-planning services impeded due to the nationwide implementation of community quarantines, an additional 2.070 million might be added to the figure, bringing the total to 5.168 million—a 67-percent hike.

Based on the National Demographic Health Survey (NDHS) 2017, which revealed that about 1 out of 5 Filipinas take pills as their preferred modern family planning method.

The data also showed 66 percent of women ages 15 to 49 know that using condoms is a means of preventing HIV transmission. The survey also noted that for Filipinas, the pill is the most widely known contraception method followed by the male condom.

Health protocol

MEANWHILE, Confederate Sentinels of God (CSG) Inc. Founder Alvin Kyle de Jesus Constantino last Sunday urged community pantry organizers to prioritize basic health protocols above their good intentions.

During the online Lingkud Bayanihan weekly show, Constantino appealed to organizers to strictly observe the minimum health protocols to protect everyone against virus during such events.

“Let us think and plan out well our community pantry projects so

we can truly help our less fortunate and suffering neighbors experiencing hunger because of the pandemic,” he said. “Let us not cause Covid-19 transmissions in our communities that can lead to the untimely deaths of our poor neighbors. I salute the hearts of community pantry organizers. Your hearts are similarly attuned to the hearts of our patriotic Filipino heroes of the past.”

Philippine Medical Association President Benito P. Atienza said a joint “Lingkud Bayanihan” caravan kicked off last Sunday at Hospital de San Jose Orphanage in Quiapo, Manila, for the distribution of food, relief goods and access to free online telemedicine services to the 450 children and elderly.

“We will continue to push for the Filipino bayanihan spirit, together with other partners,” Atienza said announcing the re-opening of the PMA auditorium at North Avenue, Quezon City to receive any donations in kind.

Leo Olarte, Bayanihan Frontliners Movement lawyer-president said in statement that their food and relief goods operations coupled with a free 24/7 online telemedicine service would roll out on a house-to-house basis nationwide to start in Metro Manila with help from the Department of Social Welfare and Development.

Agriculture/Commodities

A4 Monday, May 3, 2021 • Editor: Jennifer A. Ng

BusinessMirror

BUSINESSMIRROR FILE PHOTO

PHL to study efficacy of Ivermectin in preventing deadly hog disease

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By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Department of Agriculture (DA) will conduct preliminary field trials of Ivermectin and other agents to prevent and control the dreaded African swine fever (ASF), which has decimated local hog farms.

Agriculture Secretary William D. Dar issued Special Order (SO) 310 which called for the creation of an inter-agency research team for ASF Control and Prevention.

The research team will conduct preliminary trials using Ivermectin and other agents with pharmaco-

logical properties under the government’s ASF control and prevention program, according to the document.

Dar instructed the research team to “prepare research proposals on the use of Ivermectin, ASF Buster, Cloud Feed and other potential products for the control and prevention of ASF.”

The inter-agency group would also “conduct preliminary field trials of Ivermectin and other agents to produce science-based evidence in support to control and prevention programs of ASF.” Dar ordered the group to “formulate and draft science-based policies for the national guidelines in using Ivermectin and other agents in the control and prevention programs of ASF.” The group is also responsible for collaborating with international research institutions to conduct experiments to “support claims in the use of Ivermectin and other agents.”

Dr. Rene C. Santiago, OIC-Assistant Director for Production and Research of the Bureau of Animal Industry (BAI) will lead the program while Dr. Claro N. Mingala,

OIC-Deputy Executive Director for Production and Research of the Philippine Carabao Center will serve as assistant program leader.

Agriculture Undersecretary for Livestock Dr. William C. Medrano, National Livestock Program Director Dr. Ruth S. Miclat-Sonaco and BAI OIC-Director Dr. Reildrin G. Morales were tapped as technical advisers.

Ivermectin is an anti-parasitic drug that has gained infamy in the Philippines after certain quarters pushed for its use to cure Covid-19 despite the lack of regulatory approval.

ASF Buster is an “external and oral disinfectant spray to kill bacteria and neutralize viruses,” according to the web site of its creator, Alizin PH. The disinfectant spray contains hydrogen peroxide and zinc which are “highly negatively charged solution that will attract most virus and bad bacteria since they are living in the environment with Hydrogen Ion positive polarity,” Alizin PH said.

Alizin PH said ASF Buster “is the animal grade for Alizin Spray,” another product of the company that can “easily destroy viruses including Covid-19.” ASF Buster costs P9,500 per gallon, according to Alizin PH’s web site.

Alizin Spray was invented by Ismael Aviso, who was arrested by the Philippine National Police last year for allegedly selling fake Covid-19 medicine online.

Dar announced that the DA has launched the trial of a possible ASF vaccine in partnership with 10 private companies.

He said one of the DA’s partnercompanies for the ASF vaccine trial tests is Zoetis Inc., the largest producer of medicine and vaccination for pets and livestock.

In February, Dar formed a technical working committee that would oversee the ASF vaccine development and manufacture in the country.

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ANI secures govt backing for asset-based agri tokens

By VG Cabuag

@Villygc

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GRINURTURE Inc. (ANI), the listed agro-commercial trading firm of businessman Antonio L. Tiu, said it has secured the support of various government agencies for the country’s first assetbacked tokens.

The company said it signed a memorandum of understanding with the Department of Agriculture (DA) and the Authority of the Freeport Area of Bataan for the launch of the 1DA 1Bataan 1ANI Agri Digitalization Program via the Bataan Freeport.

It said the agreement paves the way for the rollout of a blockchain-based platform for trading agricultural produce and virtual currencies globally. The aim is to facilitate financial inclusion of agriculture stakeholders, especially unbanked Filipino farmers and fisherfolk, through a regulated financial technology platform and licensed virtual currency, the company said.

The 1ANI e-commerce platform, a financial technology ecosystem, allows local farm input requirements and output to be traded using virtual currencies and opens up financing and trading opportunities to institutional buyers and foreign investors residing outside the Philippines, said Tiu. Under the agreement, ANI will initially secure a license from the authorities of Bataan Freeport for the issuance and use of Agri Tokens within the freeport area before commencing global operation of its fintech ecosystem.

A Bangko Sentral ng Pilipinasapproved branch of an affiliate bank within the freeport is also required to act as custodian bank for the Agri Token and provide other financial services.

In addition, ANI will establish and secure a license for an AgriXchange Commodities and Futures Trading Center with the freeport

authority to act as a Virtual Currency Exchange for the conversion of fiat money to virtual currencies and vice versa.

The commodities and futures exchange will also trade basic commodities in the Asean region, such as rice, corn, sugar, copra, to allow farmers and institutional buyers to hedge.

The same document includes the development and establishment of a food terminal complex, cold and dry storage facilities, and logistics hub within t he f reepor t in coord ination with the Bataan local government units and DA to boost the countr y’s food security program. The said agreement shall h ave i m med i ate ef fec t upon signing by the three parties, the company said.

“The digitalization initiative is in sync with ANI’s e-voucher financing project with the Land Bank of the Philippines [LBP] where LBP will also participate in funding agri-agra lending via evouchers using ANI’s close looped digital platform,” the company said.

ANI’s crypto will be an assetbacked virtual currency as it is linked to an asset pool with economic value.

Asset-based virtual currencies are used to digitize certain assets via blockchain technology to securitize assets while ensuring traceability of the flow of funds.

“A N I e m br a c i n g t h i s d i s r uptor w i l l be a major ga me c ha nger as t he cou nt r y ’s ag r i sec tor employ i ng c lose to a t h ird of t he popu l at ion has a n est imated f u nd ing gap of at least $30 bi l l ion a yea r,” t he compa ny sa id.

Tiu also wants ANI to achieve c a rbon neut ra l st at u s on or before 2030. He recently announced acquisitions in BR B Digital Bank and Upay Digital Technologies, both with EMI licenses, to better serve farmers and fishers.

Pork tariff, MAV ‘compromise’ up at Senate caucus “Because what I wish to avoid is a confrontation on May 17 (when Congress reconvenes from its recess). If we don’t have an agreement, I cannot stop any one from the senators, or even in the House, on May 17, to file a joint resolution to take back the delegated power Congress gave the President,” Sotto added, partly in Filipino.

Asked if he sees a strong chance that a compromise could be reached both on MAV and the tariff cuts, Sotto said they had asked the Executive to consider halving the rate of tariff cuts under Executive Order 128 which slashed the rates from the 30 (in-quota) and 40 percent (out-quota) to just 5 and 10 percent. “Overall, we asked for just half” of what the Executive decreed in terms of tariff cuts and MAV. “If they wanted to allow 400,000 (mt) as minimum access volume, we

suggested, just 200,000. As for the 40-percent tariff they wanted to cut, [we suggested 20] and for the 30 [percent], [just cut to] 15.”

He said this may be more acceptable to local producers or hog raisers.

Sotto said the Executive side came back with a counteroffer that was quite far off from their suggestion, “so we met again.”

He said he spoke by phone with Senators Cynthia Villar, Panfilo Lacson and Minority Leader Franklin M. Drilon, and they decided to pitch another counteroffer. The three senators are among the most active in the COW inquiry into the pork crisis and related issues.

Sotto said the Executive, however, stressed anew that they were mainly worried over the continued impact on inflation of the shrinking pork supply, a matter that Secretary Dominguez had kept raising

at the April 27 hearing.

Sotto disclosed that the Senate’s suggested halving of the tariff cuts and the MAV was not yet acceptable to the Executive. “They’re okay [with a compromise] but per their computation, [the MAV should be increased to] 254,000, instead of 200,000.”

The Executive, however, “had a different view” of the lawmakers' suggestion to just cut the tariffs to 20 percent and 15 percent, Sotto said, “so we came back to them and now they have a counter [offer] based on a computation towards the basis for inflation.” All this will be tackled at the all-senators’ caucus on Monday, Sotto told DWIZ. Sotto said the tariffs remained the “crucial” point of discussions because from where he sat, the MAV is clearly headed for a compromise.

Sotto declined to state what new

offer the Senate would pitch if the Executive insists that it cannot cut the tariffs simply by 50 percent of the rates mandated in EO 128.

“I cannot preempt my peers. We lead by consensus so, what is okay with me has to be acceptable to them.

Also, we have to consider of course the local producers, the farmers.

That’s what’s important to most senators. Therefore, I cannot preempt any one” on the next options.

At the same time, Sotto revealed the senators had been in constant consultation with the local hog raisers while they were negotiating with the Executive.

“Yes, I’ve sent [updates] to the three leaders: AGAP President Nikki Briones, Pork Federation Vice President Chester Tan, and Rosendo So of Sinag. We’ve also been consulting the president of the Pork Federation.”

Sotto explained they were con-

cerned that greatly expanding the MAV “is not an assurance that prices will go down” as imported pork boosts local supply.

“That’s the projection of those simply sitting behind the desk, not those who are in the mud, raising the hogs. So, it’s hard. Our people on the ground see the real situation,” Sotto said.

He pointed out that the swine industry has many allied industries relying on it—certain crops, corn and others used as feed for swine, even transportation, among others, that are closely related to hog raising. That’s why it’s so crucial” to the economy, he stressed.

Asked if his demand to unmask the lobbyists for the tariff cuts and the MAV increase was satisfactorily answered at the last COW hearing, Sotto acknowledged Dominguez’s explanation that it

continued from a1

was the “economic managers” who made the recommendations.

However, he noted, the basis of “armchair” decision makers is sometimes not reflective of the situation on the ground. “What you learned at Yale and Harvard is different from what’s happening in the hog farms.”

Nonetheless, Sotto expressed hope that this week’s exchanges between the Executive and Legislative can yield a good compromise.

“I really hope we have a good compromise, because the committee report we will be drafting now will turn out fine if we have a good compromise. But if not, our committee report might come out along with a joint resolution [recalling Congress’ delegated power to the Executive]. But I’m really avoiding a confrontation with the Executive Department.”

‘Illegal fishing in West PHL Sea threatens livelihood of small fishers’

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N T ER NAT IONA L nongovernment organization (NGO) Oceana urged the government to prioritize the welfare of small-scale fishermen affected by the ongoing tussle between the Philippines and China in the West Philippine Sea. Oceana Vice President Gloria Estenzo-Ramos said the livelihood of Filipino fishers is affected by the illegal, unreported and unregulated fishing (IUUF) activities from “both local and foreign fishers” operating in the West Philippine Sea. “The Constitution makes the State the duty-bearer in protecting our marine wealth and shall reserve the use

and enjoyment of its marine wealth exclusively to Filipino citizens. Our law enforcement agencies, the Department of Environment and Natural Resources, and the Department of Agriculture-Bureau of Fisheries and Aquatic Resources have the duty to protect our ocean, the important marine habitats and ecosystem,” Estenzo-Ramos said in a statement.

She said the West Philippine Sea issue, which involved the sighting of around 240 maritime Chinese militia vessels in the area, “should immediately drive concerned government agencies to put in place mechanisms to ensure the safety of our fishers and

effectively trace the location of their fishing vessels within our territorial waters.”

“Our fisheries laws are clear on requiring tracking device for commercial fishing vessels, but if we continue to ignore its importance in deterring illegal fishing and harassment by Chinese militia of Filipino fishers plying the Kalayaan Island Group, we will not be able to ensure the safety of our own people.”

Estenzo-Ramos said the government must be “firm in ensuring transparency and accountability in ocean governance” if it wants to stop the continuous plunder of the

country’s maritime resources, which poses a threat to the Philippines’s food security.

Together with its partners from local government units, fishers and other NGOs, Oceana said they have been calling for the full implementation of the vessel monitoring mechanisms for all commercial fishing vessels, as required in the amended Fisheries Code that was passed in 2015.

The rules on vessel monitoring measures and electronic reporting system covering all commercial Philippineflagged catcher vessels was promulgated only in October 2020 through the Fisheries Administrative Order

266, according to Oceana.

“We cannot just watch the destruction of our coral and other important marine habitat and vibrant ecosystem in our waters,” EstenzoRamos said.

In a recent statement, the Department of Agriculture’s Bureau of Fisheries and Aquatic Resources said it is “strongly committed” in ensuring food security by addressing IUU fishing and implementing resource sustainability programs in West Philippine Sea. “In provinces and coastal communities facing West Philippine Sea, DA-BFAR, through its regional

offices, has been providing the necessary interventions under programs like fisheries development, fisheries regulation and law enforcement, and fisheries extension program.”

“DA-BFAR will continuously enforce programs that will benefit our fisheries and aquatic resources and the fisherfolk in coastal communities along the West Philippine Sea.” Last month, Agriculture Secretary William D. Dar said BFAR is already finalizing its study on the ongoing IUUF in the West Philippine Sea, which involves poachers from China, Taiwan and Vietnam, among others. Jasper Emmanuel Y. Arcalas

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Monday, May 3, 2021 A5

8 coastal areas positive for ‘red tide’–BFAR

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IGHT coastal areas in 6 provinces have been found to be positive for red tide, the Bureau of Fisheries and Aquatic Resources (BFAR) said on Sunday.

Shellfish Bulletin No. 13 dated May 1 revealed results of laboratory tests indicated that shellfish collected from these areas are positive for paralytic

shellfish poison (PSP) or toxic red tide that is beyond the regulatory limit.

These areas are Puerto Princesa Bay, Puerto Princesa City in Palawan; coastal waters of Dauis and Tagbilaran City in Bohol; Tambobo Bay, Siaton in Negros Oriental; coastal waters of Calubian in Leyte; Balite Bay, Mati City in Davao Oriental;

and Lianga Bay and coastal waters of Hinatuan in Surigao del Sur. Moreover, Bislig Bay in Surigao del Sur is now positive for PSP. The BFAR said all types of shellfish and Acetes sp. or alamang gathered from the areas are not safe for human consumption.

As such, BFAR urged the public

not to gather, transport, sell and consume shellfish in the said areas.

Fish, squids, shrimps and crabs are safe for human consumption provided that they are fresh and washed thoroughly, and internal organs such as gills and intestines are removed before cooking.

Eating shellfish products with

red tide can cause paralytic shellfish poisoning, an illness which can cause death. Early symptoms of PSP include tingling of the lips and tongue, which may begin within minutes of eating poisonous shellfish or may take an hour or two to develop.

Depending upon the amount of toxin a person has ingested, symp-

toms may progress to tingling of fingers and toes and then loss of control of arms and legs, followed by difficulty in breathing. If a person consumes enough poison, the muscles of the chest and abdomen become paralyzed. Death can result in as little as two hours, as muscles used for breathing become paralyzed. Jonathan L. Mayuga

A6

The World BusinessMirror

Monday, May 3, 2021

Editor: Angel R. Calso

reports 25% increase India opens vaccinations for all Russia in Covid deaths in 1st quarter adults amid surging infections M

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EW DELHI—In hopes of taming a monstrous spike in Covid-19 infections, India opened vaccinations to all adults on Saturday, launching a huge inoculation effort that was sure to tax the limits of the federal government, the country’s vaccine factories and the patience of its 1.4 billion people.

The world's largest maker of vaccines was still short of critical supplies—the result of lagging manufacturing and raw material shortages that delayed the rollout in several states. And even in places where the shots were in stock, the country's wide economic disparities made access to the vaccine inconsistent.

The country's ambitious effort was also partly overshadowed Saturday by a fire in a Covid-19 ward in western India that killed 18 patients, and the death of 12 Covid-19 patients at a hospital in New Delhi after the facility ran out of oxygen for 80 minutes.

Only a fraction of India's population will be able to afford the prices charged by private hospitals for the shot, experts said, meaning that states will be saddled with immunizing the 600 million Indian adults younger than 45, while the federal government gives shots to 300 million health care and frontline workers and people older than 45.

So far, government vaccines have been free, and private hospitals have been permitted to sell shots at a price capped at 250 rupees, or around $3. That practice will now change: Prices for state governments and private hospitals will be determined by vaccine companies. Some states might not be able to provide vaccines for free since they are paying twice as much as the federal government for the same shot, and prices at private hospitals could rise.

Since state governments and private players compete for shots in the same marketplace, and states pay less for the doses, vaccine makers can reap more profit by selling to the private sector, said Chandrakant Lahariya, a health policy expert. That cost can then be passed on to people receiving the shots,

increasing inequity.

"There is no logic that two different governments should be paying two prices," he said.

Concerns that pricing issues could deepen inequities are only the most recent hitch in India's sluggish immunization efforts. Less than 2% of the population has been fully immunized against Covid-19 and around 10% has received a single dose. Immunization rates have also fallen. The average number of shots per day dipped from over 3.6 million in early April to less than 2.5 million right now.

In the worst-hit state of Maharashtra, the health minister promised free vaccines for those ages 18 to 44, but he also acknowledged that the shortage of doses meant immunization would not start as planned on Saturday. States say the paucity of shots is one reason why immunizations have declined.

In a positive development, the country on Saturday received its first batch of Sputnik V vaccines, which it is importing from Russia.

Moscow has signed a deal with an Indian pharmaceutical company to distribute 125 million doses.

India thought the worst was over when cases ebbed in September. But mass gatherings such as political rallies and religious events were allowed to continue, and relaxed attitudes on the risks fueled a major humanitarian crisis, according to health experts. New variants of the coronavirus have partly led the surge.

The country's shortage of shots has global implications because, in addition to its own inoculation efforts, India has promised to ship vaccines abroad as part of a United Nations vaccine-sharing program that is dependent on its supply.

Indian vaccine makers produce an estimated 70 million doses each month of the two approved shots—

A woman receives the AstraZeneca vaccine for Covid-19 at a hospital in Prayagraj, India on Saturday, May 1, 2021. In hopes of taming a monstrous spike in Covid-19 infections, India opened vaccinations to all adults Saturday, launching a huge inoculation effort that was sure to tax the limits of the federal government, the country's vaccine factories and the patience of its 1.4 billion people. AP Photo/Rajesh Kumar Singh

the AstraZeneca vaccine made by the Serum Institute of India and another one made by Bharat Biotech.

The federal government is buying half of those vaccines to give to states. The remaining half can then be bought by states and private hospitals to be given to anyone over 18, but at prices set by the companies.

The federal government is buying shots at 150 rupees each, or $2. The Serum Institute will sell the shots to states at 300 rupees each, or $4, and to private players at 600 rupees each, or $8. Bharat Biotech said it will charge states 400 rupees, or less than $5.50 for a shot, and private players 1,200 rupees, or more than $16.

By comparison, the European Union paid $2.15 per dose for the AstraZeneca vaccine. The company says that price is discounted because the EU contributed to the vaccine's development.

The strain is mounting on the Serum Institute, which in addition to being India's main supplier is also a critical supplier of the UNbacked initiative known as COVAX, which more than 90 countries are depending on. The institute paused exports in March.

"The urgent demand for vaccines in India is bad for the rest of the world," said Ravi Gupta, a professor of clinical microbiology at Cambridge University.

Some experts warned that conducting a massive inoculation effort now could worsen the surge in a country that is second only to the United States in its number of infections—more than 19.1 million.

"There's ample evidence that

having people wait in a long, crowded, disorderly queue could itself be a source of infection," said Dr. Bharat Pankhania, a senior clinical lecturer specializing in infectious diseases at Britain's University of Exeter. He urged India to first stop the circulation of the virus by imposing "a long, sustained, strictly enforced lockdown."

Pankhania cautioned that immunization efforts alone would not help immediately stem the current spike of Covid-19, since shots "only start to bear fruit in about three months' time." Vaccination would help prevent future waves of infection, he said.

Given the urgent need for vaccines, some experts said rationing available doses is critical.

"Vaccines need to be delivered to the areas with the most intense transmission," Gupta said, explaining that vaccines should be used as "emergency control measures" in specific regions of India rather than offering doses to all adults across the subcontinent.

Pankhania said the widely seen images of Indian virus patients gasping for air and smoke billowing from makeshift funeral pyres should spur rich countries to share their vaccines more freely. He criticized the approach taken by many Western countries that are attempting to vaccinate all citizens, including younger people at low risk, before sharing any doses.

“It is better globally to immunize all the [vulnerable] people that need to be protected rather than to immunize entire populations in only some countries,” Pankhania said. AP

Pope prays for Covid’s end and for ‘a horizon of hope’

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ATICAN CITY—Pope Francis in a special prayer service on Saturday in St. Peter's Basilica invoked the end of the pandemic and a return of what he called "a horizon of hope," including a scenario in which scientists can figure out how to conquer the coronavirus.

Francis led an evening rosary service attended by about 200 rankand-file faithful, including many children, who sat spaced apart according to Covid-19 protocols.

Speaking softly, Francis lamented how the pandemic has left so many people “anguished, bewildered and weeping for their dear ones who have died, buried sometimes in a way that wounds the soul.”

Invoking the intercession of the Virgin Mary with God, Francis prayed that "this hard trial end and that a horizon of hope and peace return."

Francis also prayed for health care workers on the front lines and as well as for "the men and women of science, so that they find right solutions to conquer this virus."

OSCOW—Russia's state statistical service says the number of deaths nationwide in the first three months of 2021 was more than 25% higher than the same period a year ago, and it reported thousands more deaths due to Covid-19 in March than tallied by the country's coronavirus task force.

More than 583,000 people died in January-March of this year in Russia, compared with 460,000 for those months in 2020, the Rosstat agency said in a report issued Friday.

The agency did not provide an explanation for the sharply higher death toll, but critics have suggested that Russian officials underplay the severity of the pandemic in the country.

The national coronavirus task force counted more than 12,300 deaths from Covid-19 in March, but Rosstat gave a substantially higher number. The agency said there were 15,003 deaths that month in which coronavirus was

the leading cause, along with 2,454 cases in which Covid-19 was believed to be the leading cause and 1,401 deaths in which Covid-19 influenced other diseases and accelerated death.

According to the task force, throughout the pandemic 110,502 people have d ied in Russia of Covid-19 as of Saturday—392 of them in the past day.

The country has recorded more than 4.8 million confirmed cases.

Although Russia has boasted of being the first country to authorize a coronavirus vaccine— the Russian-made Sputnik V— the pace of its vaccination program is lagging well behind many other countries.

Only about 8% of Russians have gotten at least one vaccine shot, while 5% have been fully vaccinated. T hat puts Russia far behind Britain, where 50% of the population has gotten at least one shot; the United States at 43% and the European Union with nearly 27%. AP

Iran, US inch toward nuclear deal with sanctions consensus

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ran said it reached an agreement with parties to the 2015 nuclear deal for the Biden administration to lift a raft of economic sanctions that could propel talks aimed at restoring the historic accord.

Speaking to reporters on the sidelines of the negotiations in Vienna on Saturday, Iran’s Deputy Foreign Minister Abbas Araghchi said there was an “agreement in place” over lifting sanctions on “most individuals” and on Iran’s energy, autos, financial, insurance and ports sectors, adding that negotiations were “ongoing” on penalties that apply to other individuals.

He gave no additional details, and US officials attending the talks in Vienna didn’t immediately comment. The US isn’t negotiating directly with Iran, but is participating in the discussions led by the other parties to the treaty.

One European official sounded a more cautious note, saying that much was still needed to reach a deal and that there was little time left. The official said they’d hoped more progress could have been made over the past week, and that an understanding has yet to be reached on the most critical points. The official asked not to be named because of the sensitivity of the matter.

“Talks have reached a level of maturity, in terms of both contentious issues as well as points over which there’s agreement,” Araghchi said, according to Fars.

An agreement had not yet been reached on US lifting terrorism designations, including those on the Islamic Revolutionary Guard

Corps, Iran’s state-run Press TV reported, citing Araghchi.

World powers led by the European Union, and including Russia and China, are trying to broker an agreement between the US and Iran to revive the landmark accord that former President Donald Trump abandoned in 2018.

The Vienna talks are focused on reaching a consensus on how the US will remove hundreds of sanctions from Iran’s economy.

Iran has said that the US must remove all sanctions that the Trump administration imposed on Iran, not just those that come under the terms of the nuclear accord.

A raghchi added that delegates were also working on the details and minutiae of the text of a document that will formalize the US’s return to, and Iran’s full compliance with, the original agreement, which limited Iran’s nuclear program in exchange for sanctions relief.

Earlier on Saturday, after the latest round of talks ended, Russian envoy Mikhail Ulyanov said that while it was “too early to be excited,” there’d been “indisputable progress,” adding that delegates planned to reconvene at the end of next week after returning to their capitals on Saturday afternoon.

Officia ls have spent three weeks shuttling back and forth to Vienna, and hope to complete talks and finalize an agreement over the deal by May 22, Ulyanov said. That’s when Iran’s interim nuclear monitoring agreement w it h t he Inter nationa l Atomic Energy Agency expires.

Bloomberg News

Extreme weather kills 11, injures 66 in eastern China

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Pope Francis prays in the Gregorian Chapel in St. Peter’s Basilica at the Vatican on Saturday, May 1, 2021. Pope Francis led a special prayer service Saturday evening to invoke the end of the pandemic. Riccardo Antimiani/Pool photo via AP

Also remembered in his remarks were "all the women who have suffered violence within the walls of their homes" due to mandated lockdowns.

The pope implored in prayer that national leaders use wisdom

and generosity in planning social and economic solutions "with foresight and the spirit of solidarity." He urged that defense funds be used instead for research "to prevent similar catastrophes in the future."

Every day for the rest of May,

Catholic sanctuaries in the world dedicated to Mary will take turns holding a similar rosary service.

Francis wanted the initiative, which ends on May 31, when he will lead the rosary's recitation in the Vatican Gardens. AP

EIJING —A n extreme thunderstorm hit an eastern Chinese city, leaving 11 dead and 66 injured, with strong winds causing buildings and trees to collapse, officials said.

Nantong city, located in the eastern province of Jiangsu, was among the hardest-hit when the extreme weather swept the Yangtze Delta on Friday night, according to state-affiliated newspaper Global Times.

Rescuers evacuated 3,050 people, a local government notice said.

Wind speeds of 162 kilometers (100 miles) per hour overturned a fishing ship. Two sailors were rescued and search operations were underway for the nine remaining crew, the notice said.

Electricity has been restored in Nantong, and collapsed trees, damaged vehicles as well as windows that have been blown away were being cleared. AP

A8

Opinion BusinessMirror

Monday, May 3, 2021 • Editor: Angel R. Calso

www.businessmirror.com.ph

editorial Covid post-traumatic stress

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ost-traumatic stress (PTS)—not to be confused with the more serious and potentially longer lasting post-traumatic stress disorder (PTSD)—is something we have all experienced. PTS is a common, normal, and adaptive response to experiencing a traumatic or stressful event or condition.

The “adaptive” part is better known as the “fight-or-flight response” that is found in almost all animals as a survival mechanism. It is like the idea of potentially being a “dead hero” by fighting back or “alive coward” by running away.

If you happened to physically experience the 1990 Luzon earthquake or the 2013 earthquake that struck Bohol, you probably also experienced PTS. For days or maybe weeks after, the nearby rumbling vibrations of a passing truck may have triggered PTS and fight-or-flight. That is normal. However, prolonged activation of this survival mechanism impairs health.

Over time, it will take a toll on the body. Harvard Medical School: “Research shows that chronic stress contributes to high blood pressure, promotes the formation of artery-clogging deposits, and causes brain changes that may contribute to anxiety, depression, and addiction.”

Going through an earthquake is a one-off event. However, PTS—and PTSD—can also happen when we are placed in a long-term situation that creates ongoing anxiety. Being in a war as a civilian or combatant or the day-to-day stress of a health-care worker are examples.

For some 12 long months we have all lived through and coped with the pandemic and the life-changes it has brought. We had to drop items from our daily routine and had to add others. Every one of us experienced “violating” the social distancing rule and the fear or guilt that came when we realized it. And there has been the constant fear and worry of getting Covid.

To make matters worse, we have had to swim through a flood of conflicting information from media and government. Mask/no mask, lockdown/no lockdown, and not to mention vitamins, herbal remedies, and, of course, Ivermectin.

Last week the US Centers for Disease Control and Prevention revised its guidance on mask wearing, advising that those who are fully vaccinated may attend small outdoor gatherings without a mask. Except US President Biden said he would still probably wear a mask—calling it a “patriotic responsibility.” Taking extra precautions is understandable, but what behavior is most responsible while sensible?

Stanford University Professor of Medicine Jay Bhattacharya holds some controversial views, being “anti-lockdown.” Bhattacharya, along with Martin Kulldorff, professor of medicine at Harvard, and Sunetra Gupta, professor of theoretical epidemiology at Oxford, argue that because older patients are 1,000 times more likely to die from the disease than young patients, a different approach to countering the disease is needed.

However, Bhattacharya makes this point. “Public health authorities, including the CDC have generated an enormous amount of fear and panic around the disease. We basically have said, look at disease avoidance as the central problem in your life, no matter who you are,” he explained. “It’s not taking care of your kids. It’s not practicing your faith. It’s not doing as well as you can in your profession. None of that is as important as avoiding disease. And I think it’s going to be very difficult to undo that.”

Calling masks “a palpable symbol of panic and fear,” Bhattacharya said Biden’s use of a mask in public “even though he has been vaccinated and is immune, sends the entirely wrong signal about the efficacy of vaccination and a whole host of other things.”

We may have to cope with and live through the post-traumatic stress long after Covid is gone. Even now, look how fearful we are.

Fight Zoom fatigue with wellness breaks Atty. Jose Ferdinand M. Rojas II

RISING SUN

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have seen more than a couple of memes funnily depicting Zoom fatigue. While there is really nothing funny about it, it may be our way of coping with a major struggle during this pandemic —how to work remotely while keeping our sanity and maintaining productivity.

Many of us have been working from home for more than a year already and this has caused burnout and a new kind of exhaustion for a lot of people. A huge part of our day is spent staring at screens: video conferencing, attending webinars, checking e-mails, watching movies with family, working at the computer, sending a text, shopping through our phones, socializing with friends and family, and so on. Our brains and our eyes must be exhausted from all

the overstimulation!

Fight for Sight, a non-profit organization in the United States, recommend the 20-20-20 rule. For every 20 minutes you spend looking at a screen, you need to look away at a distance of 20 meters for 20 seconds. This is supposed to help avoid eye strain.

Some experts also suggest using the phone the old-fashioned way or communicating via e-mail whenever possible. They recommend shorter meetings, too. It requires some plan-

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N the UP National College of Public Administration and Governance doctoral program PA 32I class discussion we had on April 7, 2021, I noted that there’s a slide shown by our invited resource person from Thailand, Prof. Woothisam Tanchai, that dwells on the “Path to the new Normal” with attribution to Mckinsey & Company.

This may be the result of a Mckinsey study or report commissioned by the Thai government on the response strategy or assessment of the Covid counter-measures for the country. This also may be considered by our government to commission a think tank group to undertake a similar engagement. A third party reputable institution (not necessarily limited to foreign organizations) may be able to provide additional suggestions on handling the pandemic crisis.

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Conclusion

In response to my question about the dynamics of engagements in this advisory committee, Prof.

Woothisam said that the discussion of issues in the committee were long and oftentimes hotly debated and deliberated upon. However, after the discussions, a unified set of recommendations and report are submitted to the senior government officials handling the Covid-19 counter measures. A good number of their recommendations were considered by the government and contributed positively to the Covid-19 counter-

measures. He was not able to respond to the question I raised on what positions on economic matters that he personally and vigorously pursued that were not included in the final recommendations of the Committee and the reasons for such. I am very much interested in the thoughts of Prof. Woothisam in the interplay of the economic concerns (revving up business and the economy) balanced with the public health considerations. These insights can very well be considered for addressing the economic and business concerns of

Fight for Sight, a non-profit organization in the United States, recommend the 20-20-20 rule.

For every 20 minutes you spend looking at a screen, you need to look away at a distance of 20 meters for 20 seconds. This is supposed to help avoid eye strain.

ning but I am sure it can be done.

Yale Professor Laurie Santos argues that it’s not all bad. Video chats, for example, offer advantages by helping people stay connected during a time of great struggle. Some people may feel less isolated if they are able to connect, albeit virtually, with friends and family.

It could also be that Zoom fatigue may be related to the overall anxiety that people are experiencing because of Covid, the lockdowns, the economic uncertainties, and fear for their own and their loved ones’ well-being. In a recent Gallup poll, 45 percent of Americans said that the current crisis is harming their

In the Nomura report, it predicts that Asia would be in a sweet spot in 2021, and likely to post an average gross domestic product growth of 8.1 percent this year, a sharp reversal from last year’s 1.1-percent contraction. It noted, however, that Thailand and the Philippines would likely be the laggards, reaching their prepandemic output level only in the second quarter of 2022. our business community as affected by the Covid pandemic.

Prof. Woothisam presented in good detail Thailand’s response to the pandemic. A catchy term of “Hammer and Dance” was used to describe the strong (for “hammer”) as well as collaborative (for “dance’) strategies for this. These include a wide range of measures on detection, risk assessment, case investigation, laboratory diagnosis, clinical management, infection prevention and control and risk management. A close scrutiny of these measures show that we are practically doing the same (maybe even more). But what will explain for the different outcomes in controlling the pandemic between our two countries? It may take another webinar and study to address this. However, I can venture a guess on one possible reason for the varied results between the two countries. It may be the level of respect (or fear) the Thais have for their leaders, in-

mental health.

Indeed, work—especially at this time—is a blessing. But we do need to prioritize our physical and mental health to be able to keep our jobs and continue to provide for our families and ourselves. One social sciences expert advised that taking breaks is crucial, as well as looking closely at our habits to be able to manage the way we work.

Focus on one task at a time and put breaks in between. I know someone who does non-work-related activities in between her work-related activities as a form of wellness break. Having a wellness break in between Zoom meetings means not scheduling the meetings so close to each other. Perhaps you could work on a sketch or a watercolor piece, play a musical instrument, do a 15-minute yoga session, meditate with calming music for 20 minutes, watch an episode of your favorite series, and so on.

It’s great to find ways to de-stress during the day, taking note of the things that work for you, as it’s not the same for everyone.

cluding the King and the military leadership. From my readings and the non-response of Prof. Woothisam to a question raised during the class that is somewhat critical against the Thai leadership, it is apparent that the Thai people tend to follow programs or orders imposed by their military-led government. This is much unlike the Filipinos who can be belligerent or partisan in complying with the measures of the incumbent government officials.

According to Japanese investment house Nomura, in its December 11 global economic outlook, the Philippines and Thailand will likely lag behind their peers in the region’s economic recovery in 2021 due to their “vulnerability to the Covid-19 pandemic and muted fiscal support from the government.”

In the Nomura report, it predicts that Asia would be in a sweet spot in 2021, and likely to post an average gross domestic product growth of 8.1 percent this year, a sharp reversal from last year’s 1.1-percent contraction. It noted, however, that Thailand and the Philippines would likely be the laggards, reaching their pre-pandemic output level only in the second quarter of 2022. Nomura expects Thailand to grow at a slower pace of 3.2 percent in 2021 and 5.3 percent in 2022. Thailand had a full-year contraction of 6.9 percent in 2020.

In the case of the Philippines, coming from a 9.8-percent contraction in 2020, Nomura expects the gross See “Debit Credit,” A9

Opinion BusinessMirror

www.businessmirror.com.ph

Taiwan can help build a resilient and inclusive global health system

Dreaming the good stuff Siegfred Bueno Mison, Esq.

THE PATRIOT

By Dr. Shih-chung Chen

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he threat that emerging infectious diseases pose to global health and the economy, trade, and tourism never ceases.

Pandemics can spread rapidly around the world due to international aviation and transport. As of March 2021, a novel form of pneumonia that first emerged in Wuhan, China, at the end of 2019 and has since been classified as coronavirus disease 2019 (Covid-19) has caused more than 126 million cases and more than 2.7 million deaths worldwide. The disease has had an enormous medical, economic, and social impact around the world, and significantly threatened global efforts to achieve the United Nations Sustainable Development Goals.

Due to its proximity to China, Taiwan had been expected to be one of the countries most severely affected by the epidemic. But given its experience of fighting the 2003 SARS outbreak, Taiwan did not ignore the alarms, piecing together evolving official and unofficial accounts to form a picture of the emerging disease that implied a scope and severity worse than the global public perception suggested.

Authorities used this information to launch enhanced monitoring on December 31, 2019, and have tirelessly implemented public health containment measures since Taiwan’s first case was detected on January 21, 2020. As of April 22, 2021, there had been 1,086 confirmed cases, including 11 deaths, in Taiwan.

Life and work have continued much as normal for the majority of the population. Taiwan has contained Covid-19 ever since the beginning of the pandemic, including a record 253 days without any cases of domestic transmission between April and December 2020.

After dealing with SARS, Taiwan established a nationwide infectious disease healthcare network that is led and overseen by infectious disease experts across six regions. More than 100 secondary response hospitals are included in the network and 22 special municipalities, counties and cities have designated their primary response hospitals. The network also provides the legal authority for transferring patients with highly contagious diseases to designated facilities based on public health and clinical need. This has proven instrumental in protecting health systems and health professionals from being overwhelmed, and allowed most non-Covid-19 health services to continue to operate without disruption during the pandemic. To date, there have been only two hospital-associated Covid-19 outbreaks in Taiwan.

Both were well managed resulting a total of 11 cases and zero death of health professionals.

By introducing public health control measures early and effectively, Taiwan has also mitigated the economic impact of Covid-19.

To maintain essential international, social, economic, and trade activities, Taiwan implemented flexible adjustments for related quarantine measures for vessels and aircraft so that fisheries, offshore wind farms, and air transport industries could continue operations. In stark contrast with the global economic contraction, Taiwan’s GDP growth for 2020 was approximately 3.11 percent, with even higher growth of 4.94 percent in the fourth quarter.

Furthermore, public trust and cooperation with the government’s response have been key to successfully containing Covid-19.

In formulating disease control reg u l at ions, t he gover nment has adhered to the principles of reasonable response, minimum damage, and gradual adoption. It has worked hard to maintain the balance between people’s right to know and personal privacy and freedom, actively responding to people’s wishes by upholding the principle of fairness at the same time as prioritizing the protection of disadvantaged groups, including migrant workers. Throughout this pandemic, Taiwan has demon-

We urge WHO and related parties to acknowledge Taiwan’s longstanding contributions to the international community in the areas of public health, disease prevention, and the human right to health, and to include Taiwan in WHO and its meetings, mechanisms, and activities. Taiwan will continue to work with the rest of the world to ensure that all enjoy the fundamental human right to health as stipulated in the WHO Constitution. strated an emphasis on the right to health and associated protections and strong opposition to human rights abuses. Indeed, at no point has Taiwan restricted people’s right to free expression, assembly, or participation in public life.

Although Covid-19 has hit all countries hard, its impact has been harshest among already vulnerable and high-risk communities, as well as those lacking quality health-care services and those unable to handle the adverse consequences of antipandemic containment measures.

As a responsible member of the international community, Taiwan will do its utmost to work with the World Health Organization and global health leaders to ensure that all people enjoy living and working conditions that are conducive to good health. We will also monitor health inequities to advocate more effectively for universal access to quality health services.

Thanks to its robust health system, rigorous testing strategies, information transparency, and public-private partnerships, Taiwan’s response to Covid-19 has been one of the world’s success stories. This pandemic has proven yet again that Taiwan cannot remain outside of the global health network. Taiwan plays an indispensable role in the global monitoring and early warning systems that detect the threat of emerging infectious diseases, and the Taiwan Model has proven consistently capable of containing Covid-19. The pandemic has also highlighted Taiwan’s capacity to research, develop, produce, and supply therapies and associated tools quickly (including two Covid-19 vaccines that are presently in Phase 2 trials). Being able to comprehensively participate in and contribute to international Covid-19 supply chain systems, as well as global diagnostics, vaccine, and therapeutics platforms, would allow Taiwan to work with the rest of the world.

We urge WHO and related parties to acknowledge Taiwan’s longstanding contributions to the international community in the areas of public health, disease prevention, and the human right to health, and to include Taiwan in WHO and its meetings, mechanisms, and activities. Taiwan will continue to work with the rest of the world to ensure that all enjoy the fundamental human right to health as stipulated in the WHO Constitution. Echoing the mantra of the United Nations’ 2030 Sustainable Development Goals, no one should be left behind.

Dr. Shih-chung Chen is the Minister of Health and Welfare of Taiwan.

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here is a saying that the dream we have when we are in a state of “half-awake and half-asleep” becomes a prophetic dream. Some people commonly refer to it as a waking dream —a hallucination that occurs when we are in a drowsy state. Sleep psychologists consider them as lucid dreams or sleep paralysis. In this hybrid state, we process our thoughts or feelings that we ignore when we are wide awake. In this semi-conscious state, we can actually become what we dream about towards this glimpse to the future or become the exact opposite by exerting efforts away from it. Our thoughts, especially before going to sleep, affect whatever we dream about. Almost always, I get nightmares whenever I watch a suspenseful movie before going to bed.

In contrast, during a person’s conscious time, thoughts relating to the future inexorably abound, oftentimes masked and marketed as visions, predictions, fearless forecasts, and premonitions. These are shared with others to manipulate minds and eventually influence actions.

For instance, at the inception of the pandemic, social media erupted with claims that American author Dean Koontz, way back in 1981, predicted the entry of the coronavirus, in the year 2020. Among those circulated were a few pages in his novel The Eyes of Darkness, which mentioned “Wuhan-400” virus. The exact text posted on social media said, “They call the stuff “Wuhan-400” because it was developed at their RDNA labs outside of the city of Wuhan, and it was the four-hundredth viable strain of man-made microorganisms created at that research center.” However, a fact check done by a reputable US media outlet belied such prediction due to lack of evidentiary facts.

Indeed, the 1989 book described a fictional virus, but the original version in 1981 called the virus as Gorki-400, attributing its creation to Russia. Further, the fact check said that the virus described by Koontz, although similar, does not share the same current effects of the coronavirus. Either way, most social-media users remain astonished by the fact that a person like Koontz managed to predict an outbreak of a “severe pneumonia-like illness.”

In the local textile of projections in the form of newscast, Presidential Spokesman Harry Roque was once heard disputing the forecast of the OCTA Research anent the upsurge of

Covid infection in the country. Roque fearlessly forecasted that there won’t be a significant increase in new cases since the Duterte administration has already imposed sufficient and stringent measures to curb the local contagion. He must be in a waking dream! The OCTA Research team’s forecast actually came about, with close to a 99 percent precision. To his credit, Roque claimed “victory” over a UP Study months ago that projected a certain number of cases which, fortunately, did not happen.

On the whole, the graphical illustration of Covid statistics has gone from bad to worse since the announcement of the State of Public Health Emergency in March 2020. What is more woeful is that some officials in this administration kept insisting, some rather vigorously, that the government response to the virus is excellent, compared to other countries.

If longer lockdowns and numerous labels of quarantines serve as the criteria, then this county has the best response ever!

Admittedly, while we are fans of projections of the future, whether marketed as a prophecy, a vision, or a forecast, we are normally fixated at the “what” and not the “how”. Whenever anyone shares a prophetic dream to another, the latter would dwell on the prophecy itself and overlook the process. However which way we call it, any glimpse of the future is twopronged. For “what goes behind” matters more than “what actually is.” Dreams, to a certain extent, are projections of the future. Hence, we should be cautious with our thoughts, especially during bedtime.

Context dictates the content. If our

Monday, May 3, 2021

Dreams, to a certain extent, are projections of the future. Hence, we should be cautious with our thoughts, especially during bedtime. Context dictates the content. If our minds are charged with negative and harmful things like disease, injury, and even death, our adversary the devil, who “prowls around like a roaring lion seeking someone to devour” will have the chance to maneuver the wheels of tragedy. minds are charged with negative and harmful things like disease, injury, and even death, our adversary the devil, who “prowls around like a roaring lion seeking someone to devour” will have the chance to maneuver the wheels of tragedy.

We should therefore approach sleep with a positive sense of anticipation, by reading inspirational Scripture instead of angry Facebook posts. We can wake up rested and recharged if we have happy thoughts a few hours before sleeping. In contrast, demonic encounters are not far-fetched if, a few hours before sleeping, our thoughts are upon negative events or doomsday scenarios.

For instance, I have read that some people are convinced that our Heavenly Creator caused this pandemic.

After all, they say that nothing happens here on Earth without his intervention! By focusing on His Word with the help of able mentors instead of reading up on these clairvoyants and commercial fortune tellers disguised as brilliant seers in the mold of Nostradamus, I strongly believe that this virus was authored by the enemy and not by God. I say so because, first, Our Creator is capable of only what is good and perfect for us: “Every good and perfect gift is from above, coming down from the Father of the heavenly lights, who does not change like shifting shadows”(James 1:17).

Second, while our world is filled with a plethora of mysteries, we need not be drowned in its clouds, especially dark ones. Armed with a genuine connection with God to help us understand what is inside His heart, I was taught to simply follow His light until we see the goodness in all things. No one can ever supplant His wisdom with theirs, even by the most gifted prophets, amid these trying times. Whether His purpose for us appears in our dreams (like a

Self-insurance and non-insurance

By Reynaldo A. De Dios

S

ince the Stone Age, the caveman has used every defensive means to protect his life, family and possessions. This is actually for self-preservation, which in this modern and commercial world is equivalent to self-insurance. There is a difference between self-insurance and non-insurance. In the latter, one assumes risk and does nothing about it. On the other hand, there is a systematic and scientific program of meeting losses from one’s own resources.

The primary objective of selfinsurance is to reduce premium expenses, thus it is obvious that self-insurance is not for the under-financed firm to save premium expenses when it would be more practical to purchase commercial insurance at a fixed cost.

What are the elements involved in administering a successful selfinsurance program?

There should be a sufficient number of similar exposure units to enable fairly accurate prediction of losses from year to year. This is definitely not possible for an individual engaged in a small business enterprise.

The finances of the self-insurer should be adequate to meet losses as they occur. If possible, a separate and

Debit Credit. . . continued from A8

domestic product of the Philippines to grow by 6.8 percent in 2021 and by 7.9 percent in 2022.

distinct fund should be set aside for this purpose, otherwise the funds of the working capital should be large enough to meet losses without causing the firm to resort to borrowing. In addition, accounting reserves should be established for expected losses.

A Risk Manager with authority should be appointed to supervise the program, and his responsibilities would include supervision of loss prevention programs, keeping of records, payment of losses, and the purchase of commercial insurance on risks that are deemed too dangerous to self-assume.

While the principal benefit of a successful self-insurance program is reduction in premium expendiFrom this perspective of postCovid recovery, the “twin” countries, Philippines and Thailand, again appear to be on the same track. But again, as in the past, Thailand may be moving ahead in Covid recovery and response, compared to its twin,

While the principal benefit of a successful self-insurance program is reduction in premium expenditures, there are also some disadvantages. These include the inability to deduct the cost of the programs for tax purposes.

tures, there are also some disadvantages. These include the inability to deduct the cost of the programs for tax purposes.

A simple illustration of self-insurance is the deductible amount in a motor car insurance policy that requires the insured motorist to assume for his own account the agreed amount of every claim for vehicular damage. Likewise, in property insurance, deductible options are available to those who are willing and able to share in the risk. For the very large conglomerates whose premium expenses are in the hundreds of millions annually, they may consider financing their loss exposures by setting up a captive insurance company.

Now what is a captive? It is an insurance company owned by a the Philippines.

Joel L. Tan-Torres is the Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy and partner of Reyes

A9

prophecy) or while we are awake (like a vision), what truly matters is that we allow ourselves primarily to be led by His light.

In the Bible, Daniel is more known as the interpreter of the king’s mysterious dream. Daniel was an upright young man, walking in the light, thinking and acting only of what was good and decent. He requested God to give him an answer in a dream, not obscured in symbolism, but in a cloudless encounter with his spirit and God’s mind. God answered that prayer because we know in Daniel 2:22 that he received his answer in a night vision: “It is He who reveals the profound and hidden things; He knows what is in the darkness, And the light dwells with Him.” We should remain focused on the light of our Creator, as it is said: “God is light; in him there is no darkness at all.” (1 John 1:5).

In a shaken world, full of stupefying declarations, astounding predictions, opinionated forecasts, and flawed surveys, we can evade the “eyes of darkness” by simply following His light. In the Bible, Proverbs 3:24 tells us, “When you lie down, you will not be afraid; when you lie down, your sleep will be sweet.” I rather sleep with this promise than with any promise outside the Bible. Whether our dreams are random, soulful, or prophetic, whether in a hybrid state or otherwise, we can be assured that our last thoughts dictate them.

My friends know that I still get 7-8 hours of sleep, for the most part. What they do not know is that I have been dreaming more often than usual. Random ones amuse me; upsetting ones make me anxious.

These days, when I feel unsafe about any situation or second-guess a lifechanging decision, I just sleep on it.

I sleep not only to delay and ponder about it but I sleep knowing that “In peace I will lie down and sleep, for you alone, Lord, make me dwell in safety.” (Psalms 4:8) This is a sure fire way of dreaming the good stuff!

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission.

For questions and comments, please e-mail me at sbmison@gmail.com.

corporation not in the insurance business and it is confined primarily or exclusively to the risks of its owners. This limited scope of operation differentiates captives from traditional stock insurance that underwrite risks for the general public. In most cases, the captive company is usually managed by professional firms specializing in captive management.

The functions of these management firms are to interface with regulators, provide services relative to captive operations (e.g. underwriting, reinsurance, claims and accounting), offer coordination with investment firms and prepare locally required financial records.

One advantage for the owners of captives is that the premium paid is a tax-deductible expense. Premiums paid to a captive are generally tax deductible provided that the captive assumes entirely the underwriting risk. An additional benefit is the deduction for the reserves established by the captive.

The author is a risk management consultant and Editor of Insurance Philippines magazine.

Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979.

This column accepts articles for publication from the business community. Articles not exceeding 600 words can be e-mailed to jltantorres@ up.edu.ph.

A10 Monday, May 3, 2021

Palace calls for virtual interfaith prayer meet

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ALACAÑANG is reaching out to Catholic bishops and leaders of other faiths and sects in the Philippines for a planned virtual interfaith prayer meeting, as part of unifying the nation in facing the continuing challenges of the Covid-19 pandemic, among other main problems.

“Pursuant to the same policy underlying Republic Act 10525, which mandates all government agencies and instrumentalities to carry out the observance of activities designed to advance the message of interfaith harmony and goodwill in accordance with religious traditions and practices, you are hereby DIRECTED to organize preparations for a virtual interfaith prayer meeting for the nation in coordination with the CBCP [Catholic Bishops’ Conference of the Philippines] and representatives of other faiths and sects,”said a memorandum from Executive Secretary Salvador Medialdea to PA on Religious Affairs Grepor B. Belgica.

In undertaking the virtual interfaith activity, the presidential adviser “shall recognize the freedom of the different faith-based organizations to pray according to their distinctive beliefs, while ensuring the orderly conduct of the prayer meeting and encouraging interfaith understanding,” said Medialdea’s directive.

“The sects represented shall also be allotted a reasonable time to conduct ceremonies consistent with the purpose of the event, should they request for it,” added the memorandum. Belgica was directed to report to the Executive Secretary’s office the actions taken to comply with the directive, including the proposed date of the interfaith prayer meeting and the participants, within 15 days.

PHL stays out of watchlist, but flags ‘old’ USTR issues

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By Tyrone Jasper C. Piad @Tyronepiad

HE recent evaluation of the US Trade Representative (USTR) on the country’s intellectual property (IP) protection did not sit well with the IP Office of the Philippines (IPOPHL), which noted that the agency has been addressing related concerns through the years.

Meanwhile, the IPOPHL welcomed the USTR’s keeping the Philippines out of the Special 301 Watchlist for eight years and clearing of unlicensed software use allegation on the part of the government.

The IP Rights Enforcement Office (IEO) of IPOPHL said that the IP concerns raised in the USTR’s 2021 National Trade Estimate Report on Foreign Trade Barriers are not new and the Philippines has worked on them already.

“We disagree with the evaluation. These are not new issues that have been raised against the Philippines and this is despite the fact that the Philippines has already

previously responded to, and addressed, the issues,” IEO told the BusinessMirror.

With this, IPOPHL IEO believes that said IP issues have not prevented foreign firms from investing in the country.

The agency added that the National Committee on Intellectual Property Rights (NCIPR) has introduced initiatives to strengthen enforcement efforts and to address the issues; and the latter “has achieved great strides” in resolving such concerns.

Piracy, fake goods

ACCORDING to the USTR report,

US right holders have concerns with the surging online piracy and counterfeit drugs and apparel, even citing the inclusion of the Greenhills Shopping Center, San Juan, Metro Manila in the Notorious Markets List.

IPOPHL, recognizing that online piracy is a global concern, noted that it has been coming up with programs with whole-ofgovernment approach to solve the issue.

“Through the initiative of IPOPHL, Congress is now discussing the proposed amendment to the IP Code which will give impetus to enforcement power of IPOPHL to address online piracy, among others,” IEO said. “Parallel to this is the Internet Transactions Bill pending also in Congress which will address issues on E-Commerce including the proliferation of counterfeit and pirated goods online.”

IPOPHL said it also revised the Rules on Administrative Enforcement that governs the jurisdiction and process of the IEO. Most recently, IPOPHL and the National Telecommunications Commission announced their partnership with several internet service providers to streamline mechanisms in blocking pirated websites.

See “PHL,” A2

SENATE RESO VS. CHINA’S WPS FORAYS ON TRACK, SAYS SOTTO

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HE Senate is on track to tackle a formal Resolution strongly condemning China’s latest intrusions in West Philippine Sea fishing grounds well within the country’s exclusive economic zone.

In an interview with DWIZ at the weekend, Senate President Vicente Sotto III confirmed the Resolution, initially signed by 11 senators, is expected to muster unanimous support from members of both the majority and minority blocs when it is tackled on first reading at the resumption of plenary session on May 17.

Relatedly, Sen. Panfilo Lacson sought to de-link the WPS exchanges from the vaccines that were bought from—and partly donated by—Beijing.

Lacson reacted to President Duterte’s bid to fuse the two issues last week.

Sotto indicated the Resolution condemning WPS intrusions by China readily mustered support, even as senators indicated an intent to introduce amendments when it is tackled in plenary after the May 17 resumption of sessions.

“With amendments. Some of us support it with amendments, like for example, how we will

push back; and also, to state that we fully support the positions of the Department of Foreign Affairs [DFA] and the Department of National Defense [DND],” he said, partly in Filipino. “ T hat pa r t is f ine. But on the use of the word ‘condemning,’ there’s reser vation among some of us, and we’re studying that because to some, it seems off to use the word ‘condemning’ on a friend,” he explained in an interview with DWIZ. The Senate leader acknowledged that they were treading carefully on the wording of the resolution given the fact that “China is a trading partner.”

“If it’s possible to come up with something that’s strong, [we will] but the important thing is to stress support for the positions of DFA and DND; that, we will support. It’s just a matter of picking one’s words carefully,” he added.

The DFA had been filing daily diplomatic protests—as vowed

by Secretary Teodoro L. Locsin Jr—against Beijing, for every day that there remain China militia vessels in Julian Felipe Reef or any other part of the Philippine EEZ. See “Senate res0,” A2

www.businessmirror.com.ph

Companies BusinessMirror

Monday, May 3, 2021

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DOJ: Govt, Maynilad to start talks on new concession deal

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By Joel R. San Juan

@jrsanjuan1573

USTICE Secretary Menardo I. Guevarra said over the weekend that the government’s review panel is likely to proceed with its meeting with Maynilad Water Services Inc. on Monday to discuss the revision of its concession agreement.

Guevarra said the review panel has already sent a copy of the water concession deal the government forged with Manila Water Company Inc. to Maynilad officials.

“The meeting will push through tomorrow [Monday]. Until we hear the initial comments of Maynilad, we can’t say if we’ll have a concession agreement that is not too different from the con-

cession agreement with Manila Water,” he said.

Guevarra said certain provisions that are in the revised concession agreement with Manila Water would be included in the deal being hammered out between the government and Maynilad.

“There are certain provisions which, I believe are non-negotiable. The removal of the non-

interference clause, the nonchargeability of corporate income tax to consumers’ water bills, no government guarantees for future debts, Commission on Audit audit, and a more transparent governance mechanism are some of these,” he said.

The Justice Secretary could not ascertain how long the negotiation for the new concession agreement with Maynilad would last but noted that the parties need to finish the discussions before the original water deal expires next year.

“The ball is in Maynilad’s court.

Note that its original concession agreement will expire in 2022,” Guevarra said.

It can be recalled that in 2019, President Duterte ordered the Department of Justice to review the concession agreements with Manila Water and Maynilad after discovering “onerous provisions” in the existing contracts, and after the Permanent Court of Arbitration in

Cirtek debt offering yields ₧1B

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aguna-based Cirtek Holdings Philippines Corp. said it raised some P1 billion from its commercial paper offering, which was four times oversubscribed.

Cirtek said its issuance was oversubscribed since it did the offering at a time of monetary easing and consecutive rate cuts by local and international central banks.

The said paper was listed for trading at the Philippine Dealing and Exchange Corp.

Multinational Investment Bancorporation acted as sole arranger and lead underwriter.

The said fundraising is part of the company’s P6billion debt program.

Its commercial paper offering has been assigned a credit rating of PRS A (corp.) with a stable outlook by the Philippine Ratings Services Corp. The said rating has an above average capacity to meet its financial commitments relative to that of other Philippine corporates while a stable outlook indicates that the rating is likely to be maintained or to remain unchanged in the next 12 months.

“The Cirtek Group has built a strong brand within the industries and customers it serves for developing and delivering innovative high-quality products, production

flexibility, supply chain stability, competitive costing and capability to work with customers on development of next generation products,” the company said.

The company intends to use the proceeds from the offer to partially retire its short-term obligations maturing in 2021 and refinance working capital of its subsidiaries Quintel USA, Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technologies and Solutions Inc. (CATSI) as it takes part in the creation of the 5G roll out of telecom firms all over the world.

Quintel designs, develops and delivers advanced high efficiency, high-performance antenna products and solutions that help mobile network operators increase efficiency, enhance quality-of-service, slash costs and accelerate returns.

CATSI manufactures value added, highly integrated microwave and millimeter wave technology products catering to the military, telecommunications, satellite communications, enterprise networks, automotive radar, semiconductor test boards and industrial segment, while CEC provides fully integrated assembly, packaging and test and turnkey solutions of semiconductor devices. VG Cabuag

Singapore issued a decision stating that the Philippine government should pay P7.4 billion to Manila Water and P3.4 billion to Maynilad for the losses they suffered from an unenforced water rate hike.

Last March, the government through the Metropolitan Waterworks and Sewerage System and Manila Water signed a new concession agreement which is expected to pave the way for “better overall service and more reasonable charges to consumers.”

Guevarra, however, could not say if the government would no longer pursue criminal action against the executives of the water concessionaires and government officials behind the “onerous” 1997 contracts.

“The new agreement is a lot more equitable than the original one, but I can’t say with any certainty if the government will still pursue any legal action arising from the old agreement [as] there are many factors to consider.”

MAYNILAD WATER TREATMENT PLANT Manuel V. Pangilinan-led Maynilad Water

Services Inc. has commenced the laying of a primary pipeline along Umali Street in Brgy. Poblacion, Muntinlupa City, in preparation for the construction of a new water treatment plant that will draw its supply from Laguna Lake—the company’s third such facility to be built since it began tapping the lake as source in 2010. The 1,800mm-diameter line will convey water to be produced by the soonto-rise Poblacion Water Treatment Plant—a P10-billion treatment facility. Contributed Photo

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Companies BusinessMirror

Monday, May 3, 2021

PSE STOCK QUOTATIONS

April 30, 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 EAST WEST BANK METROBANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FILIPINO FUND NTL REINSURANCE PHIL STOCK EXCH

43.2 103.1 82.8 25 9.85 44 22 31.1 56.35 98.35 17.9 114.6 72 1.48 3.89 7.5 0.7 160.4

43.75 104.4 82.95 25.1 9.86 44.65 23.25 31.15 56.5 110 18.28 115.5 72.2 1.52 3.95 8.69 0.71 160.5

43.5 105.9 82.8 24.5 9.98 45 22 28.7 56.35 100 18.28 115 73.5 1.48 3.92 7.5 0.72 160

43.5 105.9 83.5 25.3 10 45.05 22 31.6 56.35 100 18.28 116.3 73.5 1.48 3.95 7.5 0.72 160.9

43.5 103.1 82.7 24.5 9.86 44 22 28.7 56.35 100 17.56 113.9 72 1.48 3.89 7.5 0.7 157

43.5 103.1 82.8 25 9.86 44 22 31.15 56.35 100 18.28 115.5 72 1.48 3.95 7.5 0.7 160.4

5,600 1,946,390 3,230,240 252,500 260,000 1,773,500 20,000 5,059,000 190 50 21,100 637,070 8,760 50,000 124,000 100 252,000 12,960

243,600 202,219,820 267,878,716 6,286,105 2,589,675 78,612,190 440,000 156,161,085 10,706.50 5,000 384,828 73,332,553 631,480.50 74,000 485,160 750 176,750 2,075,147

26,100 -87,415,111 -14,601,171.50 -22,695 -84,398 -49,177,720 -1,061,420 -43,277,444 -412,090.50 11,700 -56,310 536,543

INDUSTRIAL AC ENERGY 6.8 6.81 6.74 6.83 6.7 6.8 25,271,300 171,366,273 1.39 1.4 1.35 1.4 1.34 1.4 3,205,000 4,431,310 ALSONS CONS ABOITIZ POWER 23 23.3 23.35 23.6 23 23 3,630,300 84,503,500 0.89 0.9 0.91 0.93 0.89 0.9 52,345,000 47,314,450 BASIC ENERGY FIRST GEN 31.1 31.15 31.05 31.15 30.95 31.1 339,600 10,551,600 67.1 67.15 68.2 69 67.1 67.1 56,900 3,828,128 FIRST PHIL HLDG MERALCO 272.8 274 274.8 275.4 272.8 272.8 174,760 47,825,820 14.74 14.98 14.82 15 14.74 14.74 2,069,600 30,772,966 MANILA WATER 3.41 3.44 3.31 3.49 3.31 3.41 2,541,000 8,666,930 PETRON PETROENERGY 3.83 3.94 3.88 4.09 3.82 3.82 246,000 976,610 12 12.32 12 12.32 12 12.32 165,600 2,033,482 PHX PETROLEUM PILIPINAS SHELL 21.6 21.75 21.7 21.7 21.3 21.6 284,000 6,136,270 10.4 10.42 10.44 10.44 10.3 10.42 49,200 510,932 SPC POWER AGRINURTURE 6.82 6.85 6.79 6.9 6.55 6.85 2,486,200 16,961,504 3.24 3.27 3.24 3.27 3.22 3.27 155,000 505,960 AXELUM CENTURY FOOD 20 20.2 20.15 20.3 19.7 20 2,825,900 56,217,375 DEL MONTE 13.2 13.3 14.08 14.08 13.02 13.3 1,400,900 18,701,650 7.22 7.31 7.49 7.52 7.2 7.22 4,852,000 35,489,063 DNL INDUS EMPERADOR 9.89 9.9 10 10 9.83 9.9 4,106,700 40,639,935 66.5 66.85 67.85 67.85 66.05 66.65 216,900 14,451,560 SMC FOODANDBEV ALLIANCE SELECT 0.61 0.64 0.64 0.64 0.64 0.64 1,000 640 1.4 1.44 1.38 1.44 1.37 1.44 10,665,000 14,999,410 FRUITAS HLDG GINEBRA 58.25 58.3 58.1 59 58 58.25 95,410 5,560,940.50 176 176.8 176.5 177.5 176 176 340,480 60,057,860 JOLLIBEE 7.23 7.59 7.16 7.78 7.16 7.78 500 3,646 MACAY HLDG MAXS GROUP 5.89 5.92 5.92 5.92 5.88 5.92 132,500 781,320 0.31 0.315 0.315 0.315 0.31 0.31 3,430,000 1,071,000 MG HLDG SHAKEYS PIZZA 7.39 7.45 7.4 7.45 7.38 7.39 28,600 211,620 1.01 1.02 1.01 1.03 1.01 1.02 982,000 995,990 ROXAS AND CO ROXAS HLDG 1.45 1.51 1.46 1.46 1.46 1.46 20,000 29,200 0.137 0.138 0.14 0.144 0.136 0.137 11,000,000 1,531,330 SWIFT FOODS 136.2 136.9 137 137.4 135.7 136.9 1,107,000 151,452,968 UNIV ROBINA VITARICH 0.84 0.86 0.85 0.88 0.85 0.86 1,559,000 1,352,500 2.4 2.45 2.41 2.41 2.4 2.4 459,000 1,106,090 VICTORIAS CONCRETE A 55.1 59.85 54.9 54.9 54.7 54.75 200 10,963 1.15 1.16 1.2 1.2 1.16 1.16 3,301,000 3,862,980 CEMEX HLDG DAVINCI CAPITAL 2.82 2.83 2.88 2.88 2.8 2.83 1,009,000 2,846,960 12 12.02 12 12.04 12 12.02 24,200 290,564 EAGLE CEMENT EEI CORP 7.44 7.45 7.43 7.44 7.43 7.44 14,100 104,884 5.46 5.52 5.63 5.63 5.47 5.52 292,500 1,607,923 HOLCIM 6.61 6.64 6.69 6.69 6.61 6.61 432,900 2,875,839 MEGAWIDE PHINMA 12.36 12.4 12.3 12.38 12.3 12.38 38,200 472,798 1.16 1.17 1.15 1.18 1.14 1.17 1,057,000 1,225,850 TKC METALS VULCAN INDL 2.8 2.81 2.71 2.82 2.63 2.81 11,867,000 32,458,150 1.84 1.86 1.87 1.87 1.83 1.86 157,000 288,720 CROWN ASIA EUROMED 1.99 2 2.01 2.01 1.96 1.96 29,000 58,240 4.62 4.69 4.62 4.69 4.62 4.69 3,000 14,000 MABUHAY VINYL 5.3 5.39 5.31 5.31 5.29 5.3 2,261,700 11,987,010 PRYCE CORP CONCEPCION 22.45 22.9 22.5 22.5 22.4 22.45 5,600 125,680 3.7 3.73 3.75 3.77 3.63 3.7 7,244,000 26,906,390 GREENERGY INTEGRATED MICR 10.06 10.08 10.38 10.38 10.04 10.06 596,100 6,032,428 1.07 1.12 1.09 1.1 1.07 1.1 63,000 68,110 IONICS SFA SEMICON 1.3 1.33 1.34 1.35 1.3 1.34 1,051,000 1,378,350 6.12 6.15 6.09 6.26 6.08 6.15 1,323,800 8,178,127 CIRTEK HLDG

68,000,444 -17,024,245 394,040 -1,355,060 -701,351 -17,169,738 1,010,648 778,210 1,929,615 -98,178 -1,063,604 -2,084,682 -8,800,073 -3,967,577 -226,251.00 -243,700 3,101,724.50 -31,828,531 -386,288 -157,500 -52,680 -30,558,877 -46,840 -1,225,220 254,810 -965,037 -668,615 -328,070 -306,980 71,840 1,365,210 -1,545,332 10,800 6,550 7,160

HOLDING & FRIMS ABACORE CAPITAL 1.11 1.12 1.12 1.15 1.11 1.12 13,065,000 14,706,270 7.21 7.5 7.39 7.48 7.39 7.48 76,000 562,460 ASIABEST GROUP AYALA CORP 741 753 769 769 741 741 209,990 157,093,825 35.5 36 36.4 36.55 35.5 35.5 1,554,000 55,745,925 ABOITIZ EQUITY ALLIANCE GLOBAL 10.46 10.48 10.52 10.52 10.42 10.48 1,555,200 16,284,900 3 3.05 3.04 3.04 2.99 3.04 1,363,000 4,106,390 AYALA LAND LOG ANSCOR 6.62 6.85 6.93 6.95 6.93 6.95 23,100 160,541 0.87 0.88 0.88 0.89 0.84 0.88 8,732,000 7,593,840 ANGLO PHIL HLDG 0.71 0.72 0.71 0.72 0.71 0.71 574,000 407,760 ATN HLDG A ATN HLDG B 0.71 0.72 0.72 0.72 0.71 0.72 216,000 154,020 5.01 5.02 5.04 5.05 5.01 5.02 2,023,600 10,167,696 COSCO CAPITAL DMCI HLDG 5.31 5.37 5.33 5.37 5.31 5.31 3,644,500 19,416,478 8.02 8.19 8.2 8.2 8.02 8.2 14,100 113,316 FILINVEST DEV FORUM PACIFIC 0.295 0.31 0.28 0.32 0.27 0.315 5,840,000 1,729,550 525 539.5 544 544 525 525 111,590 59,148,625 GT CAPITAL HOUSE OF INV 3.64 3.74 3.74 3.74 3.74 3.74 1,000 3,740 52.75 52.85 54.95 54.95 52.75 52.75 2,627,420 139,444,781.50 JG SUMMIT 5 5.24 4.99 5 4.99 5 1,400 6,990 KEPPEL HLDG A LODESTAR 0.98 0.99 1.01 1.01 0.97 0.98 2,941,000 2,899,770 3.32 3.44 3.5 3.5 3.44 3.44 6,000 20,860 LOPEZ HLDG LT GROUP 13.38 13.42 13.4 13.46 13.36 13.42 1,651,900 22,156,252 0.475 0.49 0.475 0.475 0.475 0.475 30,000 14,250 MABUHAY HLDG METRO PAC INV 4.05 4.06 4.1 4.1 4.05 4.05 8,409,000 34,095,320 3.6 3.66 3.68 3.68 3.68 3.68 1,000 3,680 PACIFICA HLDG 2.78 2.8 2.92 2.92 2.7 2.79 3,862,000 10,788,200 PRIME MEDIA SOLID GROUP 1.26 1.27 1.23 1.26 1.23 1.26 14,000 17,340 361.4 389.6 391.6 391.6 375 389.6 140 54,282 SYNERGY GRID SM INVESTMENTS 961 965 968 977 961 961 363,380 350,178,785 113.3 115 114.8 115 113.2 115 155,340 17,779,969 SAN MIGUEL CORP SOC RESOURCES 0.69 0.7 0.72 0.72 0.69 0.7 115,000 79,550 2.2 2.44 2.44 2.44 2.44 2.44 2,000 4,880 SEAFRONT RES 133.5 134.1 134.2 134.2 134.2 134.2 300 40,260 TOP FRONTIER WELLEX INDUS 0.255 0.265 0.265 0.265 0.255 0.255 2,720,000 707,200 0.26 0.265 0.26 0.285 0.26 0.265 52,740,000 14,351,500 ZEUS HLDG

881,580 -5,236 -70,836,350 -26,036,915 -11,156,390 12,100 -52,800 -2,586,509 -10,932,170 -10,660 -32,815,660 3,141,434.50 -17,400,548 -18,245,440 1,799,120 -49,268,525 1,943,895 -40,260 447,400

PROPERTY ARTHALAND CORP 0.64 0.65 0.65 0.66 0.63 0.64 304,000 194,560 32.2 32.4 33.05 33.1 32.2 32.2 23,506,900 765,455,320 AYALA LAND ARANETA PROP 1.2 1.26 1.2 1.26 1.2 1.26 21,000 25,260 34.2 34.3 34 34.65 34 34.3 2,252,700 77,004,200 AREIT RT BELLE CORP 1.43 1.45 1.5 1.5 1.43 1.43 899,000 1,323,410 0.95 0.96 0.94 0.97 0.93 0.95 1,229,000 1,163,590 A BROWN CITYLAND DEVT 0.9 0.92 0.95 0.95 0.9 0.9 925,000 850,150 0.13 0.133 0.133 0.133 0.129 0.133 2,310,000 303,640 CROWN EQUITIES 5.81 5.82 5.75 5.88 5.71 5.82 456,100 2,641,844 CEB LANDMASTERS CENTURY PROP 0.395 0.41 0.4 0.41 0.395 0.41 6,430,000 2,608,650 0.325 0.33 0.34 0.34 0.33 0.33 920,000 303,700 CYBER BAY DOUBLEDRAGON 12.62 12.8 12.84 12.88 12.6 12.8 1,448,500 18,428,148 2.07 2.08 2.11 2.11 2.07 2.08 19,990,000 41,673,410 DDMP RT DM WENCESLAO 6.88 6.9 6.93 6.93 6.9 6.9 28,700 198,286 0.28 0.285 0.285 0.285 0.285 0.285 50,000 14,250 EMPIRE EAST EVER GOTESCO 0.189 0.19 0.175 0.189 0.175 0.189 57,710,000 10,543,790 FILINVEST LAND 1.09 1.1 1.12 1.12 1.09 1.09 18,547,000 20,331,110 0.82 0.85 0.82 0.82 0.82 0.82 10,000 8,200 GLOBAL ESTATE 8990 HLDG 7.3 7.39 7.3 7.3 7.3 7.3 800 5,840 1.33 1.34 1.34 1.36 1.31 1.34 1,499,000 1,979,110 PHIL INFRADEV KEPPEL PROP 2.81 3.56 2.79 2.79 2.79 2.79 3,000 8,370 1.8 1.81 1.88 1.88 1.76 1.8 6,692,000 12,082,110 CITY AND LAND MEGAWORLD 3.14 3.15 3.15 3.19 3.14 3.15 33,305,000 105,242,090 0.435 0.44 0.44 0.45 0.435 0.44 15,840,000 6,991,550 MRC ALLIED 0.61 0.62 0.65 0.65 0.61 0.61 13,197,000 8,180,450 PHIL ESTATES PRIMEX CORP 3.42 3.43 3.26 3.53 3.16 3.43 12,223,000 41,429,300 16.36 16.38 16.5 16.58 16.34 16.38 7,837,400 128,694,976 ROBINSONS LAND ROCKWELL 1.51 1.54 1.52 1.52 1.52 1.52 23,000 34,960 2.63 2.68 2.63 2.69 2.63 2.69 25,000 66,620 SHANG PROP STA LUCIA LAND 2.3 2.34 2.35 2.35 2.3 2.34 170,000 396,800 34.45 34.5 35.3 35.5 34.45 34.45 8,304,800 288,846,025 SM PRIME HLDG 3.73 3.89 3.9 3.9 3.9 3.9 1,000 3,900 VISTAMALLS SUNTRUST HOME 1.46 1.5 1.49 1.5 1.46 1.5 124,000 182,500 3.52 3.54 3.58 3.61 3.52 3.52 1,961,000 6,965,070 VISTA LAND

SERVICES ABS CBN 10.9 11.1 10.9 11.1 10.9 10.9 64,400 703,896 7.79 7.8 7.73 7.8 7.71 7.8 1,048,400 8,126,833 GMA NETWORK MANILA BULLETIN 0.46 0.47 0.46 0.47 0.46 0.47 110,000 50,800 9.32 10.98 10.38 10.98 10.36 10.36 1,400 14,582 MLA BRDCASTING GLOBE TELECOM 1,832 1,833 1,890 1,900 1,833 1,833 115,730 212,729,615 1,276 1,280 1,297 1,297 1,275 1,276 137,310 175,822,880 PLDT APOLLO GLOBAL 0.202 0.203 0.205 0.208 0.2 0.203 308,550,000 62,549,950 18.64 18.66 18.8 19.04 18.62 18.66 4,135,800 77,964,148 CONVERGE 4.04 4.06 4 4.11 3.91 4.06 612,000 2,427,600 DFNN INC DITO CME HLDG 10.1 10.12 10.16 10.28 10.06 10.1 4,377,000 44,389,924 1.7 1.84 1.84 1.84 1.84 1.84 1,000 1,840 IMPERIAL JACKSTONES 2.36 2.38 2.27 2.41 2.22 2.38 175,000 410,530 2.77 2.78 2.74 2.78 2.73 2.77 786,000 2,169,010 NOW CORP TRANSPACIFIC BR 0.415 0.425 0.42 0.425 0.415 0.415 4,220,000 1,767,600 2.61 2.62 2.65 2.66 2.6 2.62 271,000 712,590 PHILWEB 2GO GROUP 8.28 8.4 8.27 8.4 8.27 8.4 30,300 253,439 15.62 15.7 15.9 15.9 15.62 15.7 211,000 3,313,136 ASIAN TERMINALS 2.98 3.01 3 3.02 2.97 2.98 350,000 1,046,710 CHELSEA CEBU AIR 48.5 48.95 48.25 49.2 47.6 48.5 160,100 7,733,940 129.9 130 131 131 129 129.9 1,432,180 186,027,174 INTL CONTAINER LBC EXPRESS 16.02 16.98 17 17 16.02 16.02 8,300 137,376 0.99 1.03 0.99 1.03 0.99 1.03 10,000 10,260 LORENZO SHIPPNG MACROASIA 4.91 4.92 4.9 5 4.81 4.92 1,399,000 6,883,540 2.26 2.27 2.28 2.28 2.25 2.26 128,000 288,700 METROALLIANCE A 2.31 2.85 2.39 2.4 2.39 2.4 8,000 19,160 METROALLIANCE B PAL HLDG 6.13 6.14 6.1 6.13 6.1 6.13 13,100 80,103 1.35 1.36 1.21 1.38 1.21 1.36 3,730,000 4,896,220 HARBOR STAR ACESITE HOTEL 1.76 1.8 1.8 1.82 1.78 1.8 44,000 79,190 0.093 0.094 0.105 0.11 0.091 0.094 1,299,910,000 128,950,090 BOULEVARD HLDG DISCOVERY WORLD 3.2 3.26 3.34 3.35 3.24 3.26 57,000 188,710 0.6 0.61 0.61 0.61 0.59 0.6 1,648,000 985,840 WATERFRONT 586 599 586 586 586 586 740 433,640 FAR EASTERN U STI HLDG 0.37 0.375 0.37 0.375 0.37 0.37 1,030,000 384,700 6.49 6.51 6.53 6.67 6.48 6.5 2,457,300 15,993,221 BLOOMBERRY PACIFIC ONLINE 2.05 2.14 2.06 2.06 2.06 2.06 7,000 14,420 1.59 1.6 1.63 1.67 1.6 1.6 2,291,000 3,677,990 LEISURE AND RES MANILA JOCKEY 2.02 2.09 2.01 2.01 2.01 2.01 2,000 4,020 2.04 2.05 2.06 2.09 2.04 2.05 1,896,000 3,893,190 PH RESORTS GRP PREMIUM LEISURE 0.405 0.41 0.41 0.41 0.405 0.41 1,860,000 755,600 PHIL RACING 6 6.03 6 6 6 6 6,900 41,400 7.8 7.94 8 8 7.75 7.94 582,900 4,559,213 ALLHOME METRO RETAIL 1.28 1.29 1.32 1.32 1.29 1.29 683,000 883,430 37.25 37.3 37 37.75 37 37.3 1,251,100 46,754,825 PUREGOLD ROBINSONS RTL 52.4 52.5 52.95 52.95 52 52.5 971,980 51,226,005.50 104.9 107 107.4 107.4 106.6 107 7,750 826,410 PHIL SEVEN CORP SSI GROUP 1.21 1.22 1.2 1.22 1.19 1.22 633,000 761,640 17.6 17.62 17.54 17.6 17.2 17.6 2,797,000 48,855,942 WILCON DEPOT 0.39 0.395 0.395 0.395 0.39 0.39 420,000 163,850 APC GROUP EASYCALL 6.3 6.4 6.3 6.4 6.21 6.4 7,300 45,691 395 413.4 413.4 413.4 390.4 413.4 1,390 574,394 GOLDEN MV IPM HLDG 5.05 5.1 5.1 5.1 5.1 5.1 2,000 10,200 2.1 2.11 2.13 2.15 2.1 2.1 6,791,000 14,355,100 PRMIERE HORIZON

-336,483,065.00 -18,638,215 20,300 42,670 -179,381 -289,900 -3,249,320 -2,303,800 37,800 -15,237,780 5,840 99,240 -21,720 -14,319,690 -69,400 5,561,090 -28,533,708 8,040 -134,549,325 17,640 -6,285,290 -203,271,990 -20,084,625 45,350 -11,591,488 -1,683,660.00 -2,737,434 -24,920.00 12,600 -2,660 0 53,650 2,489,905 -565,487 -270,430 -37,860 -10,432,830 35,400 11,100 174,376 2,060 -1,872,440 270,780 255,150 -3,356,306 3,495,250 706,629 -5,370 820 -8,390 -3,950 -235,638 479,150

MINING & OIL ATOK 8.8 8.95 8.97 9.06 8.75 8.95 571,700 5,088,764 -893 APEX MINING 1.72 1.73 1.74 1.78 1.71 1.73 10,100,000 17,718,930 -273,180 8.68 8.69 8.83 8.85 8.3 8.68 3,069,600 26,695,877 352,104 ATLAS MINING BENGUET A 3.17 3.23 3.25 3.26 3.1 3.23 338,000 1,070,940 3.05 3.2 3.1 3.18 2.92 3.17 371,000 1,139,660 -3,170 BENGUET B COAL ASIA HLDG 0.325 0.335 0.32 0.335 0.32 0.335 1,650,000 544,100 2.8 2.87 2.87 2.88 2.87 2.87 42,000 120,740 100,620 CENTURY PEAK 7.42 7.5 7.79 7.79 7.41 7.49 51,300 386,743 15,020 DIZON MINES FERRONICKEL 2.68 2.69 2.71 2.71 2.6 2.69 4,291,000 11,457,040 894,980 0.38 0.385 0.35 0.39 0.35 0.385 5,160,000 1,944,950 -132,800 GEOGRACE LEPANTO A 0.19 0.191 0.186 0.201 0.178 0.19 401,710,000 77,011,820 0.192 0.197 0.189 0.21 0.183 0.197 19,740,000 3,873,080 -188,540 LEPANTO B MANILA MINING A 0.014 0.015 0.015 0.016 0.014 0.015 1,663,700,000 25,032,200 0.015 0.016 0.015 0.017 0.015 0.016 348,300,000 5,540,100 -68,400 MANILA MINING B MARCVENTURES 1.41 1.43 1.42 1.45 1.38 1.43 2,643,000 3,765,930 -56,440 NIHAO 1.59 1.6 1.66 1.75 1.58 1.6 41,144,000 66,029,900 5.55 5.56 5.49 5.66 5.4 5.56 14,452,000 80,415,730 7,031,584 NICKEL ASIA OMICO CORP 0.4 0.44 0.395 0.4 0.395 0.4 40,000 15,950 1.03 1.05 1.06 1.06 1 1.05 1,385,000 1,429,480 56,000 ORNTL PENINSULA PX MINING 6.79 6.8 6.45 6.95 6.45 6.8 15,336,900 102,886,232 -2,996,581 12.3 12.5 12.28 12.62 12.24 12.3 2,232,900 27,729,772 -5,809,466 SEMIRARA MINING UNITED PARAGON 0.011 0.012 0.01 0.013 0.0099 0.012 1,549,100,000 17,753,240 -59,100 18.62 18.9 18.96 19 18.62 18.9 186,700 3,531,288 ACE ENEXOR 0.012 0.013 0.013 0.013 0.012 0.013 250,000,000 3,134,400 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.013 0.013 0.012 0.012 9,700,000 120,500 0.012 0.013 0.012 0.013 0.012 0.013 90,000,000 1,085,300 522,000 PHILODRILL PXP ENERGY 7.66 7.7 8 8 7.61 7.7 1,252,700 9,677,780 145,052

PREFFERED HOUSE PREF A 100.6 101.5 101.5 101.5 101.5 101.5 4,950 502,425 44.85 45 44.4 45 44.2 45 58,800 2,630,465 -124,940 CEB PREF CPG PREF A 103.5 104 103.5 103.5 103.5 103.5 1,800 186,300 101 101.6 101 101.6 101 101.6 115,270 11,642,402 DD PREF FGEN PREF G 108 109.5 110 110 109.5 109.5 70 7,670 500 520 520 520 520 520 50 26,000 FPH PREF C GTCAP PREF A 981 1,028 1,003 1,003 981 981 20,130 20,165,720 1,035 1,046 1,035 1,035 1,035 1,035 31,360 32,457,600 GTCAP PREF B 100.6 102 101.7 102.1 100.1 102 73,890 7,495,383 MWIDE PREF MWIDE PREF 2A 98.5 100 100 100 100 100 5,530 553,000 500,000 100 101.3 101.3 101.3 101.3 101.3 55,880 5,660,644 MWIDE PREF 2B PNX PREF 3B 101.5 103.9 103.9 103.9 103 103.9 430 44,506 -24,936 1,000 1,002 1,000 1,002 1,000 1,002 10,910 10,922,540 PNX PREF 4 PCOR PREF 3A 1,085 1,117 1,117 1,117 1,117 1,117 5 5,585 1,130 1,155 1,129 1,129 1,129 1,129 10,000 11,290,000 PCOR PREF 3B SMC PREF 2C 78.15 79.85 79.85 79.85 78.1 79.85 12,480 979,352.50 76.5 77.35 77.35 77.35 77.35 77.35 500 38,675 SMC PREF 2E 77 78.45 77 77 77 77 133,400 10,271,800 SMC PREF 2H SMC PREF 2I 78 79 78 78 78 78 57,400 4,477,200 76.9 77 76.9 77 76.9 77 670 51,540 SMC PREF 2J SMC PREF 2K 76 76.95 76 77 76 76 25,760 1,958,960 -15,400

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.52 10.9 10.52 10.52 10.52 10.52 3,100 32,612 7.35 7.39 7.34 7.39 7.34 7.39 61,400 453,228 -221,700 GMA HLDG PDR

WARRANTS LR WARRANT 1.92 1.93 1.9 1.95 1.86 1.93 832,000 1,576,780 -57,100

SMALL & MEDIUM ENTERPRISES ALTUS PROP 18.2 18.4 18.36 18.5 18.36 18.48 36,800 677,672 -23,928 2.44 2.49 2.55 2.55 2.43 2.49 158,000 388,690 -22,190 ITALPINAS MERRYMART 5.03 5.04 5.06 5.06 4.98 5.04 5,544,900 27,862,082 579,330

EXHANGE TRADE FUNDS

FIRST METRO ETF 96.5 98.4 99 99 96.5 96.5 48,370 4,705,183 -114,157

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‘Teleseryes’ boost revenue of SE Asia’s hotel chain

By Ma. Stella F. Arnaldo

T

@akosistellaBM Special to the BusinessMirror

HE entertainment industry has helped enhance the revenue stream of some hotels in Metro Manila.

In particular, “teleseryes”— long-running drama anthologies on TV—have boosted the bottom line of Southeast Asian hospitality management group RedDoorz. In an online roundtable discussion on “Streamlining Hotel Operations: The Industry’s Speed Up Solution to Battle Covid-19” on Thursday, RedDoorz Philippines country manager Miguel Capistrano III said, while cutting down on costs are part of the chain’s recovery plan, it also has pivoted to new revenue streams: “We’re looking for other ways to earn and to get business from like these [TV networks] that need a hotel for their ‘teleseryes’ for a month.”

The budget hotel chain reported an average P32-million “overall booking value” from its “pivot strategy” during this pandemic.

“The main business right now

are for renting space and essential stays, so we actually pivoted going into industries and tapping [those] thriving right now, such as the pharmaceuticals, the government [Overseas Workers Welfare Administration and the Metropolitan Manila Development Authority], hospitals, BPOs [Business Process Outsourcing], even entertainment, because they now package a whole hotel for a shooting,” said Capistrano.

RedDoorz is looking to expand its properties outside of Metro Manila.

Among the key locations they are eyeing are Palawan, Baguio City, Cebu, Bohol, and Davao. “[Those are] our top five destinations outside Metro Manila…so those are the areas we want to go to know now, and even after the pandemic,” he said, adding that hotel owners outside the

STOCK-MARKET OUTLOOK Last week

Share prices continued to fall last week as investors decided to cash in on their gains after the government announced the extension of the modified enhanced community quarantine (MECQ) in Metro Manila and nearby provinces.

The benchmark Philippine Stock Exchange index (PSEi) declined 7.20 points to close at 6,370.87 points.

The main index was mostly up during the start of the week, even rising 112.67 points on Wednesday, but investors decided to take profits by Friday with the extension of the MECQ in NCR Plus areas, despite some easing of restrictions, such as curfew hours.

Average daily value for the week was still low at P4.92 billion, with foreign investors, accounting for 40 percent of the trade but were still net sellers at P2.67 billion.

Other subindices ended mixed with the broader All Shares index slipping 4.16 points to close at 3,923.03 points, the Financials index rose 10.21 to 1,394.23, the Industrial index was up 58.58 to 8,679.35, the Holding Firms index was down 7.24 to 6,441.31, the Property index declined 30.57 to 3,077.94, the Services index climbed 7.12 to 1,443.11 and the Mining and Oil index surged 916.52 to 9,644.29.

Gainers slightly edged losers 111 to 109 and 27 shares were unchanged.

Top gainers were Ever-Gotesco Resources and Holdings Inc., Philippine National Bank, Philex Mining Corp., Del Monte Pacific Ltd., Manila Mining Corp. B and Lepanto Consolidated Mining Co. B. Top losers were City and Land Developers Inc., Leisure and Resorts World Corp. Boulevard Holdings Inc., Dizon Copper-Silver Mines Inc., Nihao Mineral Resources International Inc. and Jolliville Holdings Corp.

This week

Share prices may continue to decline this week as trading is expected to remain directionless with the daily Covid-19 infection count hitting 8,000 to 9,000.

The industrial sector may see an improvement in trade as telecom giants and San Miguel Corp. are all expected to release their first quarter figures during the week, broker 2TradeAsia said.

The government is also expected to release its inflation figure for April, which is expected to be lower due to the re-imposition of the strictest quarantine measures in NCR Plus.

“A continued slight break to 4 percent to 4.5 percent should telegraph stasis, which is what markets can hope for the most in these trying times,” the broker said.

“Market outcomes do not exist in a vacuum. While near term trading seems exhaustive owing to the lack of conviction of recent price movements, it is important to also look at six- to 12-month scenarios.”

The scenarios include the upcoming general elections next year, mass vaccination and the easing of quarantine measures in Metro Manila and nearby provinces.

Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., also see a downward bias for the local market this week due to clouded economic recovery prospects that continue to weigh on investor sentiment.

“Overall, sentiment towards the market is seen to remain pessimistic as the strength and pace of our economic recovery is challenged by the business closures, worker lay-offs, and income losses caused by the reimplementation of the strict quarantine measures,” he said. “The PSEi was unable to sustain its ground above its 10-day exponential moving average last week. With this, the market’s 10-day exponential moving average of 6,434.59 as of April 30 is seen to remain as its initial resistance. The market’s immediate support is seen at the 6,370 to 6,400 range. Next to this is the 6,100 level.”

Stock picks

Broker Regina Capital Development Corp. advised to trade the range on the stock of Ayala Corp. (AC) as it is having trouble breaching the P770 resistance level.

“It has been trying to break past this for four straight days (last week), but the bullish hammers are starting to weaken. While indicators are still showing a buy sign, momentum is flatlining. Volatility is also now significantly low. In our opinion, AC does not have enough firepower to break out and rally to P780. From a purely technical standpoint, consolidation is more likely to happen,” it said.

It said the stock could trade anywhere between P740 to P775 but is unlikely to go beyond that.

Ayala shares closed at P741 apiece on Friday.

Meanwhile, the broker advised to sell on rallies on the stock of SM Investments Corp. as its mid-week rally did not have enough juice. The stock spiked to a weekly high on Wednesday but wasn’t able to sustain this level the next day.

“Indicators have lost all bias and are supportive of consolidation at these lower levels.

Meanwhile, there seems to be decreasing momentum—both for buying and selling pressure. Expect further range trading with a slight downward slant.”

SMIC shares closed last week at P961 apiece. VG Cabuag

National Capital Region (NCR) are “more open to talk to us versus in NCR Plus.” NCR Plus is where the highest concentrations of Covid-19 cases are located, and remains under modified enhanced community quarantine until May 15.

DOT accreditation

Capistrano added, ideally, their company is targeting to double its properties to 440 next year, from the present 220 establishments. But due to the pandemic, he admitted, the company is now planning on a “quarterly” basis.

“We’ve also established a new brand called ‘Sands,’ which is a notch higher—it’s a lifestyle [brand]. We’re opening the first one this week, and we plan to open more in the next quarters,” he said.

The hotel management chain opened its first property in Jakarta in 2015, and has over 1,000 establishments in three countries today.

The Philippines, where it opened its doors in January 2018, is its second largest market, after Indonesia, and ahead of Singapore.

Capistrano also underscored the importance of securing an accreditation from the Department of Tourism (DOT) as the pandemic has pushed guests to not only look

mutual funds

at rates and amenities of an establishment, but also at its health and safety protocols.

Virgilio Maguigad, DOT Director for the Tourism Standards and Regulation said during the event, “With the strong support of our tourism stakeholders, especially for RedDoorz and the rest of the hospitality sector, our seal of accreditation represents more certified quality businesses in the country and the international space.

Hotels can now easily achieve this and further ensure Filipinos’ safety, comfort, and convenience even after this pandemic as we intend to institute the new digital accreditation system from here on.”

From just 10 DOT-accredited hotels in April 2020, RedDoorz now has 133 accredited hotels. “The acquisition of 130+ DOT accreditations and 150+ HygienePass certified hotels paved the way for us to keep a stable demand. It provided us up to 40-percent average occupancy rate and allowed the firm to safely serve more than 176,000 Filipinos around the Philippines,” said Capistrano. The HygienePass is a strategy implemented to ensure travelers that RedDoorz properties are not only conducive for relaxation, but are also safe and clean.

April 30, 2021

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 208.5 12.1% -7.57% -3.68% -8.24% ATRAM Alpha Opportunity Fund, Inc. -a 1.2655 31.67% -6.7% 1.13% -3.62% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8562 14.15% -11.94% -5.93% -8.83% Climbs Share Capital Equity Investment Fund Corp. -a 0.731 13.42% -7.61% n.a.

-9.07% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6795 2.75% -7.05% n.a.

-8.37% First Metro Save and Learn Equity Fund,Inc. -a 4.5781 12.94% -5.25% -2.77% -7.35% 4.51% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6583 -9.28% -7.46% -13.36% MBG Equity Investment Fund, Inc. -a 96.09 29.08% -5.78% n.a.

-5.74% PAMI Equity Index Fund, Inc. -a 42.7256 14.68% -5.6% -2.4% -8.8% Philam Strategic Growth Fund, Inc. -a 448.39 12.12% -5.61% -2.91% -8.3% Philequity Alpha One Fund, Inc. -a,d,5 1.0269 21.7% n.a. n.a.

-6.42% Philequity Dividend Yield Fund, Inc. -a 1.0963 14.8% -4.89% -1.78% -6.15% Philequity Fund, Inc. -a 32.0554 14.65% -5.14% -1.44% -7.81% Philequity MSCI Philippine Index Fund, Inc. -a 0.8331 12.7% n.a. n.a.

-8.75% Philequity PSE Index Fund Inc. -a 4.3764 15.36% -5.15% -1.63% -8.66% Philippine Stock Index Fund Corp. -a 732.15 15.45% -5.04% -1.78% -8.67% Soldivo Strategic Growth Fund, Inc. -a 0.6607 14.35% -9.34% -5.3% -8.1% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3161 11.58% -7.24% -3.19% -8.49% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8363 14.88% -5.41% -1.91% -8.87% United Fund, Inc. -a 3.0837 14.25% -4.71% -0.57% -7.09% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 98.2361 15.52% -4.86% -1.1% -8.66% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.283 43.9% 5.44% 8.72% 6.66% Sun Life Prosperity World Voyager Fund, Inc. -a $1.7868 44.99% 12.06% n.a.

6.81% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6307 9.17% -1.78% -1.23% -2.27% ATRAM Philippine Balanced Fund, Inc. -a 2.1493 9.7% -2.46% -0.62% -5.96% First Metro Save and Learn Balanced Fund Inc. -a 2.4992 7.4% -1.19% -1.24% -4.86% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1879 1.84% n.a. n.a. -5.39% NCM Mutual Fund of the Phils., Inc. -a 1.8966 7.45% 0.49% 0.69% -3.43% PAMI Horizon Fund, Inc. -a 3.5468 7.28% -0.88% -0.62% -6.37% Philam Fund, Inc. -a 15.9025 7.66% -0.78% -0.6% -6.11% Solidaritas Fund, Inc. -a 1.9909 8.55% -1.85% -0.42% -4.93% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3721 7.95% -3.21% -1.67% -5.63% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9589 7.06% n.a. n.a.

-6.23% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8663 9.42% n.a. n.a.

-8.73% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8498 10.64% n.a. n.a.

-8.93% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8337 8.19% -4.17% -2.29% -6.08% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03795 0.11% 2.77% 1.26% -2.99% PAMI Asia Balanced Fund, Inc. -b $1.1469 24.57% 3.3% 5.13% -0.29% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7285 32.37% 9.05% 8.76% 4.78% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2126 16.9% 4.72% n.a.

0.87% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 370.85 2.34% 3.12% 2.53% -0.06% ATRAM Corporate Bond Fund, Inc. -a 1.9109 -0.92% 0.8% 0.18% 0.56% Cocolife Fixed Income Fund, Inc. -a

3.2217 1.71% 3.97% 4.45% 0.22% Ekklesia Mutual Fund Inc. -a 2.2586 -0.57% 2.3% 1.59% -1.63% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4311 0.58% 3.14% 1.74% -0.9% Philam Bond Fund, Inc. -a 4.4661 -0.38% 4.06% 1.74% -3.64% Philam Managed Income Fund, Inc. -a,6 1.3191 3.29% 4.24% 2.71% -0.16% Philequity Peso Bond Fund, Inc. -a 3.9592 2.51% 4.23% 2.52% -1.05% Soldivo Bond Fund, Inc. -a 1.0254 0.61% 4.14% 1.77% -1.59% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1838 2.25% 4.96% 2.78% -0.69% Sun Life Prosperity GS Fund, Inc. -a 1.7369 0.84% 4.24% 2.12% -1.03% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $483.32 3.35% 3.04% 2.34% -0.11% ALFM Euro Bond Fund, Inc. -a Є219.73 2.83% 1.04% 1.19% 0.25% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1737 -0.38% 1.73% 1.12% -8.33% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 1.17% 1.46% 0.95% -2.63% PAMI Global Bond Fund, Inc -b $1.0484 0.33% 0.47% -0.63% -4.05% Philam Dollar Bond Fund, Inc. -a $2.477 4.03% 4.62% 2.12% -2.31% Philequity Dollar Income Fund Inc. -a $0.0626535 5.23% 3.45% 2.19% 0.54% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1309 -0.62% 2.49% 0.95% -2.88% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.97 2.08% 3.15% 2.52% 0.12% First Metro Save and Learn Money Market Fund, Inc. -a 1.0507 1.33% n.a. n.a.

0.25% Sun Life Prosperity Money Market Fund, Inc. -a 1.3025 1.96% 2.89% 2.58% 0.46% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0565 1.46% 1.74% n.a. 0.39% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2418 n.a. n.a. n.a. 9.93% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $1 11.11% n.a. n.a.

2.04% 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

Fiscal perks key to higher e-vehicle demand

By Cai U. Ordinario

I

@caiordinario

NTRODUCING fiscal incentives could encourage demand for electric vehicles (EV) nationwide, according to a study released by the Philippine Institute for Development Studies (PIDS).

In a discussion paper, PIDS Supervising research specialist Maureen Ane D. Rosellon said most EVs are in public transport such as electric tricycles and jeepneys.

However, the ownership of electric cars in the Philippines remains low. In order to encourage more Filipinos, providing financial incentive packages should be given for EV purchases, charging points, electricity consumption and recycling of old units should be explored.

“It would be helpful to have a review of these incentive schemes that are being implemented in other countries, and determine which would be applicable or adaptable to the local setting,” Rosellon said.

Incentives for the use of EVs have been introduced in many countries as a means to meet their targets of banning the use of internal combustion engine (ICE) sales in the next 10 years to 20 years.

These countries include Canada, China, Brazil, Italy, Japan, Mexico, South Korea and the Netherlands.

In Southeast Asia, Singapore is the only country that aims to ban the use of ICEs. The Department of Trade and Industry also proposes an EV Incentive Strategy (EVIS) to jumpstart the development of an EV manufacturing industry in the Philippines.

Some of these incentives for industry development include tariff elimination or reduction as well as incentives for parts and components.

There are also incentives to be given for charging infrastructure and research and development for next generation vehicles and smart transport.

A number of incentives have also been included in the House and Senate Bills. Rosellon said these include excise duty exemption and VAT exemption for raw materials, parts and capital equipment that will be used in EV manufacturing.

She added that the list of incentives include priority in registration and issuance of plate number; exemption from unified vehicular volume reduction scheme; free parking space; priority in PUV franchise application; and, space for charging stations.

This is part of the reasons, Rosellon said, to fast-track the passage of an EV law. A law would set the national policy and framework of regulations for EV standards, incentives, infrastructure, and the role of government agencies.

“Fast-track the deliberations on the EV bill; having an EV law is a strong signal for current players and potential investors that the government is serious about advancing EV in the country and including it in the priority area for industry development,” the study stated.

“The EV industry is an active and fast-moving industry, hence, in order to not be left behind, including the bill in the priorities for deliberation would be crucial,” it added.

Apart from incentives and the law on EV, Rosellon added the government should create a battery manufacturing roadmap and a charging infrastructure plan.

In doing so, Rosellon said the government and industry players can study the viability of focusing on a specific type of electric vehicle.

They can choose from passenger car/van, bus or truck; or technology—full-electric or hybrid, and make the Philippines a manufacturing hub of that specific EV. Further, Rosellon said undertaking in-depth studies looking at the potential impact on the power sector and contribution to air pollution control will help recognize the prospects of such an industry in the Philippines.

Banking&Finance BusinessMirror

Monday, May 3, 2021

Tax the wealthy to correct some faults of free market–Salceda

C

By Jovee Marie N. dela Cruz

@joveemarie

ITING the threat of a “K-shaped” economic recovery, the chairman of the House Committee on Ways and Means is pushing for the inclusion of a universal basic income (UBI) in the proposed House Bill 8628 or the “Bayanihan 3.”

House Committee on Ways and Means Chairman Joey Sarte Salceda said doing so may prevent a “K-shaped recovery, where the educated middle class and above recover while the under-skilled and underemployed suffer a decline in their socioeconomic status.”

The lawmaker explained that UBI is a measure to correct some of the faults of the free market, including “over-accumulation of wealth.”

“We need those measures in this country,” Salceda added. “Of course, to fund this in the long run, we should rationalize existing taxes on the wealthy.”

The senior lawmaker said the most obvious tax on the wealth is the real property tax.

“We should update land valuations and pass Package 3 of tax reform, or the Real Property Valuation and Assessment Reform,” he added.

Salceda is proposing that government imposes higher rates on

low-density housing for the rich in Metro Manila.

“If you are living in a high-density condo as a worker in, say Ortigas, you should be paying a lower tax per square meter than someone who lives nearby in Corinthian Gardens. They are causing traffic by gating whole sections of the city and hoarding land for high-density housing,” he added. “They should pay a price for it.”

Salceda said government “can even lower taxes on lower-cost housing if we can make the rich pay more.”

Support

THE concept of a UBI is gaining support in Congress as the third Bayanihan package was recently approved jointly by the House Committee on Economic Affairs and the House Committee on Social Services.

The proposed package contains a P1,000 relief grant, in two tranches, for every Filipino.

According to Salceda, his committee is set to tackle the Bayanihan 3 on May 3.

“Covid-19 was a jobs killer. It killed many small businesses. While Filipinos resorted to micro-entrepreneurship, mostly via online selling and the informal sector, these are not sustainable income flows,” Salceda said. “Meanwhile, the wealthiest segments of the population were able to buy assets on the cheap. As the economy recovers, they will only get richer.”

The lawmaker added that government should explore using the UBI component of HB 8628 more “if Bayanihan 3 succeeds in lifting people out of dire misery due to Covid-19.”

Amelioration

SALCEDA explained that the current draft of the Bayanihan 3 includes P108 billion (for the UBI of P1,000 per head), with another P108 billion in standby funds; P12 billion in direct funding for assistance for individuals in crisis situations (AICS) of the Department of Social Welfare and Development and P3 billion for Medical Assistance for Indigent Patients (Maip).

It a lso a l locates funding for capacit y-bui ldi ng a ssi st a nce for badly affected businesses in critical economic sectors and aid for farmers. Oth-

er funding is allocated for the following: wage subsidies for workers in small businesses; grants to displaced workers; internet access allowances for students and teachers; Covid-19 treatment and vaccines; and, rehabilitation of communities distressed by recent typhoons and floods.

Salceda said these were already included in his proposal to the national government as early as March last year. He’s already released an extensive paper on the subject.

“If your household has more mouths to feed, you should have more relief,” he explained. “The cap per household under the Social Amelioration Program was skewed against poorer households that tended to have more household members.”

Salceda believes HB 8628 would be approved on plenary as Congress resumes session.

“In the meantime, we will be talking with the Secretary of Finance.”

Package

EARLIER, Salceda proposed increasing dividend remittances by gov-

B3

ernment-owned and governmentcontrolled corporations and withdrawing equity from overcapitalized government firms to partly fund the relief package.

He added that the Senate is likely to approve taxes on Philippine Offshore Gaming Operators and on e-sabong.

Salceda, principal author of the Real Property Valuation and Assessment Reform (RPVAR) bill, which is Package 3 of the comprehensive tax reform program, has renewed calls for the Senate to urgently pass the reform, citing its potential benefits to property investments and to government infrastructure programs.

“Only the superrich can afford to live in palatial homes in the densest metropolis in the world.

That is unjust, especially when housing prices for the middle class are becoming unaffordable,” Salceda said. “Covid-19 is not the time for shy incrementalism in policy.

We need big structural changes. If that means we explore new ideas, we should.”

HarvardManagementUpdate BusinessMirror BusinessMirror

www.businessmirror.com.ph Monday, May 3 2021 b4

Monday, July 13, 2020 B www.businessmirror.com.ph

What Psychological Safety Looks Like in a Hybrid Workplace

By Amy C. Edmondson & Mark Mortensen

W

ith the pandemic changing the work landscape, much attention has been given to the more visible aspects of remote work, including the challenges of managing people from a distance. But a far less visible factor may dramatically influence the effectiveness of hybrid workplaces: managers’ ability to rethink and expand psychological safety, an important predictor of team effectiveness.

Psychological safety—the belief that one can speak up without risk of punishment or humiliation—is a well-established driver of high-quality decision-making, healthy group dynamics, innovation and effective execution in organizations. Though it’s an easy concept to grasp, remote and hybrid work settings make it anything but straightforward to apply.

Psychological safety has traditionally translated into enabling candor and dissent with respect to work content. The problem is, as the boundary between work and life becomes increasingly blurry, managers must make staffing, scheduling and coordination decisions that take into account employees’ personal circumstances— a categorically different domain.

Over the past year, many have found that previously off-limits topics (from child care to health risks) have become important factors to consider when making decisions about how to structure hybrid work. And while it may be tempting to think we can sepa-

rate the work and the life domains once we return to the office, that’s neither realistic nor sustainable.

The solution, however, cannot be simply to demand greater disclosure of personal details.

Instead, managers must create an environment that encourages employees to share aspects of their personal situations as relevant to their work scheduling or location, and to trust employees to make the right choices for themselves, their families and their teams.

This is why we need psychological safety now more than ever: to enable productive conversations in a new, challenging (and potentially fraught) territory.

Obviously, simply saying “just trust me” won’t work. Instead, we suggest five steps to creating a culture of psychological safety that extends beyond work content to include broader aspects of employees’ experiences:

1. Set the scene

Trite as it sounds, the first step is having a discussion with your team to help its members recognize not

only their challenges, but yours as well. The objective of this discussion is to share ownership of the problem. Clarify what’s at stake.

Employees must understand that getting the work done (for customers, for the mission, for their careers) matters just as much as it always has, but that it won’t be done exactly as it was in the past.

As a group, you and your employees must come to recognize that everyone must be clear and transparent about the needs of the work and the team, and jointly own responsibility for succeeding despite the many hurdles that lie ahead.

2. Lead the way

Words are cheap, and when it comes to psychological safety, there are far too many stories of managers who demand candor of their employees, without demonstrating it themselves. The best way to show you’re serious is to expose your own vulnerability by sharing your own personal chal-

lenges and constraints. Remember, managers have to go first in taking these kinds of risks. Be vulnerable and humble about not having a clear plan and share how you’re thinking about managing your own challenges.

3. Take baby steps

Don’t expect your employees to share their most personal and risky challenges right away. It takes time to build trust, and even if you have a healthy culture of psychological safety established around work, remember that this is a new domain. Start by making small disclosures yourself, and then make sure to welcome others’ disclosures to help your employees build confidence that sharing is not penalized.

4. Share positive examples

Don’t assume that your employees will immediately understand the benefits of sharing personal challenges and needs at work. You

have to market psychological safety. For example, you could share your conviction that increased transparency will help the team design new arrangements that serve both individual needs and organizational goals. The goal here isn’t to share information that was disclosed to you privately, but to explain that such disclosures have allowed you to come up with solutions that were better for the team as well as individual employees.

5. Be a watchdog

Most people recognize that psychological safety takes time to build, but moments to destroy.

The default is for people to hold back, to withhold even their most relevant thoughts at work if they’re not sure they’ll be well-received.

When individuals do take the risk of speaking up, but get shot down, they—and everyone else—will be less likely to do it the next time.

As a team leader, you will also need to be vigilant and push back

when you notice employees make seemingly innocent comments like “We want to see more of you” or “We could really use you.” Such observations may leave employees feeling like they’re letting their teammates down. The idea isn’t for you to become the thought police or punish those who genuinely miss their colleagues working from home, but rather to help employees frame these remarks in a more positive and understanding way. For example, they may say: “We miss your thoughtful perspective, and understand you face constraints. Let us know if there is any way we can help.” Be open about your intentions to be inclusive and helpful so that people don’t see your requests for their presence as a rebuke. At the same time, be ready to censure firmly those who inappropriately take advantage of the personal information they have shared to the detriment of the team.

It’s important that managers view conversations around personal needs as they relate to hybrid work arrangements as a work in progress. As with all group dynamics, they’re emergent processes that develop and shift over time. This is a first step; the journey ahead comes without a road map and will have to be navigated iteratively. You may overstep and need to correct, but it’s better to err on the side of trying and testing the waters than assuming topics are off-limits. View this as a problem-solving undertaking that may never reach a steady state. The more you maintain this perspective—rather than declaring victory and moving on—the more successful you and your team will be at developing and maintaining true, expanded psychological safety.

Amy C. Edmondson is the Novartis professor of leadership and management at Harvard Business School. Mark Mortensen is an associate professor of organizational behavior at INSEAD.

Algorithmic nudges don’t have to be unethical

By Mareike Möhlmann

C

ompanies are increasingly using algorithms to manage and control individuals not by force, but rather by nudging them into desirable behavior—in other words, learning from their personalized data and altering their choices in some subtle way. Since the Cambridge Analytica Scandal in 2017, for example, it is widely known that the flood of targeted advertising and highly personalized content on Facebook may not only nudge users into buying more products, but also coax and manipulate them into voting for particular political parties.

Richard Thaler, a University of Chicago economist, and Cass Sunstein, a Harvard Law School professor, popularized the term “nudge” in 2008, but due to recent advances in artificial intelligence and machine learning, algorithmic nudging is much more powerful than its nonalgorithmic counterpart. With so much data about workers’ behavioral patterns at their fingertips, companies can now develop personalized strategies for changing individuals’ decisions and behaviors on a large scale. These algorithms can be adjusted in real time, making the approach even more effective.

Algorithmic nudging tactics are increasingly being employed in work environments as companies are using texts, "gamification" and push notifications to influence their workforce. For example, ride-hailing company Uber has been employing the psychological trick of rewarding badges to incentivize their more than 3 million independent, autonomous drivers to work longer hours without having to force them to do so. Likewise, Deliveroo pushes notifications to their food delivery workers’ smartphones in order to nudge them into working faster.

For many companies, nudging workers is a promising approach to achieving their organizational goals through higher worker performance and/or cost savings. For example, Virgin Atlantic has reportedly nudged their pilots to use less fuel, helping the British airline to substantially reduce costs; Google has reportedly employed nudging to incentivize their workforce into eating healthier snacks.

In our four years of research on Uber, my colleagues and I found that compared to traditional management, algorithmic management and nudging techniques allowed the company to efficiently coordinate a large workforce at a relatively low cost.

But companies should be wary:

These practices have come under criticism for their questionable ethics and are of increasing concern to regulators and the broader public. Challenges to these practices come largely in the form of attention to privacy violations, accusations that nudges manipulate unwitting individuals to their disadvantage and concern about algorithmic transparency and bias.

In the United States, the Federal Trade Commission has repeatedly funded research studies and published consumer guidelines to promote consumer privacy and algorithmic accountability. Such privacy-related concerns have been fueled by news about questionable corporate practices such as Amazon’s employee wristbands, which can vibrate to point warehouse workers in the direction of a product but which also track an employee’s every move.

But companies should not give up on algorithmic management to control workers through nudging. Here are three recommendations for companies that want to engage in algorithmic management and nudging, but want to avoid ethical and regulatory snares:

Create a win-win situation

Uber’s nudging of employees, Facebook’s nudging of social media users

and Amazon’s nudging of workers so clearly serve the interests of the companies over those of the consumers or workers that it’s easy to assume that all nudging goes against the interests of the target individual. However, companies can create a win-win situation in which nudging is beneficial to all involved.

Research by Thaler and Sunstein indicates that nudging can encourage individuals to improve their own health, wealth and happiness through positive reinforcement of their decisions.

Organizations should seek to implement AI-powered and personalized reward systems that also benefit the worker. I can imagine a world in which these systems nudge workers to increase their own safety. In the future, companies could enroll workers in retirement savings programs by default in order to encourage them to save more. Many of these behaviors in turn help the company as well.

Share information about data collection and storage

Algorithmically driven nudging is dependent on access to vast amounts of fine-grained data about employees’ preferences and past behavior. While technology giants such as Google and Amazon collect this kind of data

about users’ web searches, clicks, likes and purchase decisions, Uber collects data about their drivers’ every move, such as their GPS location, driving and speeding habits and ride acceptance rate.

Companies engaging in algorithmic nudging need to be transparent about the collection and storage of this data.

Europe’s data protection regulations set a good standard here: it requires companies to actively provide information about the nature of the personal user (including workers!) data they collect and store. Selling data to third parties is a widespread practice.

Companies should avoid this where possible or at least properly disclose their intent to consumers and workers.

Explain algorithm‘s logic

Making it clear to employees what the algorithm is doing with their data is also critical to staying within ethical bounds. Individuals who are significantly affected by the outcomes of machine learning models are due an accounting of how a particular decision is made. This is important when it comes to profiling—the use of new advances in digital technologies to allow algorithmic decisions to be tailored toward a specific individual. Transparency of information

is crucial in order to allow workers to make informed decisions about whether to opt out of the algorithm, and to attempt to establish that the automated decision is not prone to racial or gender bias.

However, sharing information— such as why some workers are treated differently from others or what the desired outcome of specific nudging strategies is—can be a challenge, especially given that these algorithms are always dynamically adapting themselves based on the changing environment.

Even so, more and more companies are investing in explainable AI solutions, employing techniques in order to make sure that complex computational outcomes can be understood by human stakeholders.

Due to companies’ increasing access to their workers’ data and the rapid pace of technological advancements, behavioral nudging is likely to continue. Companies who join this trend need to carefully manage their nudging techniques in order to remain legitimate by creating win-win solutions and investing in the transparency of the collection, storage and processing of their workers’ data.

Mareike Möhlmann is an assistant professor at Bentley University.

Style

BusinessMirror

www.businessmirror.com.ph

Global jeans brand continues journey toward sustainability with new campaign

Editor: Gerard S. Ramos

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• Monday, May 3, 2021

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B5

❶ MARINA

BENIPAYO in a milk silk satin and embossed cotton ball gown

❷ MARINA

BENIPAYO in a charcoal wool bounclé pantsuit

DENIM production requires large amounts of water, energy and chemicals. The volume of natural resources utilized before a pair of jeans reaches a person’s closet is quite substantial. Last week, we caught up with Paul Dillinger, vice president for global product innovations at Levi’s, to talk about the denim brand’s efforts toward sustainability and how they are taking responsibility for the social and environmental footprint of their products and operations.

“The real obligation to sustainability has nothing to do with consumer demand. If you know that you can make your products more responsibly, where it is cleaner, it saves more water, it reduces carbon impact. If you know it can be done and you don’t do it, there is such a thing as business ethics and morality. And it’s a violation of business morality to know that the job could be done better and choose not to,” said Dillinger in an exclusive interview with BUSINESSMIRROR. Levi’s recently launched a multi-platform global campaign, titled “Buy Better, Wear Longer,” which focuses on creating quality clothing that lasts for generations by employing sustainable production practices and investing in alternative materials and technology. The campaign also urges consumers to be mindful about their purchases and, hopefully, even in the way they care for their clothing.

Water is one of the planet’s most drained resource. A 2012 study (bit.ly/3xFqYC9) showed that in a day, the average office building in the US uses 22,000 gallons of water.

About 76 percent of all Levi Strauss & Co. products aesthetic evolved or changed since then? “I have and 70 percent of all Levi’s bottoms and trucker jackets are always been a thematic designer. This process for fabricated using water technology that follows certain water me has consistently been very effective in envisioning recycling regulations. These regulations have saved more my collection, ergo my designs. I think I’ll stay than 4 billion liters of water and recycled nearly 10 billion practicing this unless I find a more effective way of liters of water since its implementation in 2014. showing my message from a specific inspiration to “If you look at the long term, the issue is supply chain actual clothes,” replied Garcia, a summa cum laude resilience. If you’re so dependent on depleting resources to graduate of the Fashion Institute of Design and do your business, you’re putting your business at risk. We’re Merchandising in Los Angeles. finding ways at creating our products by using fresh water,” Garcia was exposed to fashion and clothing at said Dillinger. an early age. “I was sketching every chance I could In the long-term, Levi’s is focusing on four key issue get even as a kid of six, as far as I can remember. My areas—water, climate, chemicals and people—leading to the mom, Rosa Garcia, was a member of FDAP [Fashion development of its 2025 Water Action Strategy, its scienceICTURE this. Manila, 2007: Ford Designers Association of the Philippines] before she based targets on climate, Screened Chemistry and other Supermodel of the Philippines 1987 Tweetie left for the US in the mid-1980s. My granduncles from efforts to keep hazardous chemicals out of the supply chain, de Leon-Gonzalez as photographer, Elite both sides were pre-war tailors,” he recounted. and its worker well-being program. They’re also expanding Look of the Year 1989 Philippines Lou BunyiWith the lingering pandemic situation, he turns their focus on issues, such as waste, plastics, purchasing Pareja as hair and makeup artist, and Binibining introspective. “I realize that as a designer I have to practices and other aspects of the business.

Pilipinas Universe 1990 Gem Padilla and Binibining Levi’s has a collection of denim made of cottonized hemp constantly [re-evaluate] myself in the most selfless Pilipinas International 1991 Patty Betita as models for fabric that uses fewer amounts of water and pesticides and objective of assessments; If only I could honestly the couture creations of Bodyshots 1986 Ramp Model compared to conventional materials. Hemp used from rainadmit that I have done better with my self goals and of the Year (Pro Division)-turned-designer Jan Garcia. fed crops is incorporated into the clothes, further reducing expectations since our last conversation. Sadly, I’ll be That all-supermodel production was my highthe water usage. “Cotton hemp is traditionally coarse and untrue if I say I have, but with the present challenging hard to weave. We’re working with partners to make it softer school high-fashion fantasy made flesh, and is one state of the whole world, I can say we’re all on the and easier to wear,” said Dillinger. of the most unforgettable editorials I’ve ever done. same ground to achieve whatever we’ve set ourselves It has collaborated with Copenhagen-based brand Ganni Having such top-calibre talent in one setting is hard on, and it’s equal footing from here.” for the second time for a sustainable denim collection. to replicate nowadays.

Since his return from the US (where he practiced The brand is also using the campaign to encourage I recently caught up with the gregarious Antonio for a time) in the early 2000s, Garcia’s clients have consumers to be more mindful of their apparel choices.

“Jan” Garcia, as I was awestruck with his latest stayed within the “special made-to-measure” Consumers are encouraged to wear each item longer. By visionary photoshoots. But first, in a “throwback kung demographic. “Or what we fondly call an oxymoron, using the Levi’s in-store Tailor Shops to extend the life of throwback” way, I sent him our feature from forever the ‘couture market.’ Surprisingly, though, this their jeans and jackets. The brand also has a SecondHand ago in which he stated: “My fashion philosophy, doesn’t just cover old ideas of age range. The very platform, which consumers can use to extend the life of their humbly I may say, is both aspirational and sensitive. young [the clientele of straight out of college and garments, and ongoing Wellthread design innovation efforts [Big words, huh?] I always start with something buying for themselves] have actually been aggressive that are focused on making their products and practices idealistic, then be sensitive enough to translate it into right before the onset of the pandemic. Then at a more circular. “Our Care Tag for the Our Planet, sewn into a given market or, in the made-to-measure business, blink, every designer’s business drama has changed our garments, also provides simple instructions for how the clients’ needs. I think in the end, it’s always: Will drastically from kaching-kaching to coping,” he consumers can best care for the garment and extend its there be someone who will actually feel and look good explains. useful life, while avoiding unnecessary water and energy use in what you have designed for them?”

It is not just a question of quickly adjusting but in doing so. Our new marketing campaign complements this How more of acquiring survival skills. And just like any by promoting more sustainable design, production has his and consumption practices, something we are survival skill, he had to learn to extend, reassess and driving throughout our operations, too,” said Dillinger.

The Levi’s “Buy Better, Wear Longer” global campaign also features a group of Gen Z activists and influencers including rapper Jaden Smith, Manchester United star Marcus Rashford, YouTuber Fit Jeans—loose fitting, slouchy, THIS year, global brand Forever Emma Chamberlain, climate activist Xiye Bastida, relaxed and at times heavily 21 is rebuilding a strong denim entrepreneur Melati Wijsen and hip-hop artist distressed; Curvy Fit Jeans—for assortment with its Authentic Xiuhtezcatl Martinez. curvy women with small waists Jeans collection, which offers We asked Dillinger, being an expert on jeans, how and voluptuous hips; and Skinny new styles, better fits and updated often a pair should be washed.

Jeans—simple, flattering, and stretch fabric technology.

He cited a study done by a student in Canada. In classic.

These jeans are made of 100 2011, Josh Le, a student at the University of Alberta, The timeless and versatile percent cotton, making every wore the same pair of jeans for 15 months straight, Authentic Jeans collection pair sturdy yet soft and feeling and they had the same bacteria levels as they did starts at P1,495. Consumers like second skin. The wash fades when he wore them for less than two weeks. can shop Authentic Jeans and naturally over time, and the way “Washing them after three uses should be good. other fashionable pieces from the it breaks in makes it a pair that is Wash them as infrequently as you are comfortable comfort of their home through uniquely yours. wearing them. Wash the jeans in cold water and hang brand’s Call to Deliver service.

After all, the best jeans them to dry instead of using a dryer,” said Dillinger.

Feel free to inquire and contact our are those pairs you feel most In the Philippines, consumers get a P25 rebate customer service via Viber or SMS comfortable wearing and hug you when they bring their own shopping bags to at 0917-8114777. Forever 21 is also in all the right places. These are purchase at Levi’s stores. The Levi’s in-store Tailor available at Lazada and Shopee. jeans you will wear over and over Shops at Robinsons Place Manila, Ayala Manila Bay, Forever 21 stores practice again and seem to get better over The SM Store, SM Makati and Robinsons Place Iloilo precautionary measures to ensure the years. Forever 21’s Authentic PAUL DILLINGER, VP for Global also offer free up-cycling, alteration and repair of Product Innovations at Levi’s a safe shopping experience for all.

Jeans collection includes Boyfriend Levi’s jeans during special event dates.

DESIGNER Jan Garcia

Jan Garcia: strength, introspection and conviction

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diversify his brand and his brand’s services: “I have to constantly provide expected couture quality products while delivering them in a personally customized, home-serviced, almost ‘medical’ fashion—PPEs, masks, shields, gloves, sprays and all! Not to mention the paperwork proving my personal [and staff’s] health status.”

In the fickle world of fashion, Garcia survives because he strives to remain relevant. He fittingly calls his Fall Winter 21/22 collection “Gabriela”.

“It immediately connotes a woman of strength and conviction, as in Philippine Revolution heroine Gabriela Silang,” he said. “It is also a 1950s German post-World War II movie about the plight of its Swedish female director. Hence, the lines and nuances from the same era showing hourglass shapes and exaggerated shoulders delivered with mostly hints of men’s fabrics and wartime tailoring and feminine soft nods to its own period ideas of romance.”

Using supermodel-actress Marina Benipayo, Binibining Pilipinas Maja 1992, as the image of his collection was a hard-fought decision for Garcia..

“I salute Marina’s command of editorial modeling but it actually was a conceptual debate, since I want to exhibit the clothes without risking the model upstaging them,” he shared. “Now, looking at the final shots, I must admit that Marina delivered more than the expected and there is no better choice than her.

She was a real pro to work with.”

Even with his accomplishments, Garcia said with genuine humility: “I still have my reservations and insecurities about my aesthetics but then again, I really believe that the challenge is to organically arrive at designs I’ll be happy with.” ■

PHOTOGRAPHER: DON JOSE DAVIES; MODEL: MARINA BENIPAYO; HAIR AND MAKEUP: DONVER BELZA & ANDREW JARDEMIL; STYLING: MARIA ST; CATERING: GOT BAKE; LOCATION: I AM ABI STUDIOS CLOTHES: Jan Garcia at 8 Maria Street, Villa Susana, Caniogan, Pasig

City; 0945-7025154; 0918-2035293; jangarciadesigns@gmail.com

Authentic Jeans for everyone

B6 Monday, May 3, 2021

Construction sector key to economic recovery but challenges remain

BUSINESS owners and industry leaders from DCACI participated to give back to industry. (From Left: Engr. Wilfredo Guerzon Jr. of FGM Builders Resources and Development Corporation, Engr. Carlito Cogal of MAER Summit Construkt, Engr. Ramon Allado of Allado Construction company, Inc.)

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ULL recovery may be ways still with the new surge in COVID-19 cases muting optimism in the country but the local construction sector maintains that the construction and infrastructure industry is key to accelerating Philippine economic growth after a challenging 2020.

“Around the world, the construction industry is being seen as one of the catalysts as government pivot from response to economic recovery,” Wilfredo L. Decena, Philippine Constructors Association (PCA) President, said during an online focus group discussion of the infrastructure sector led by the Department of Trade and Industry (DTI) on April 8.

PCA is a 75-year-old non-profit organization representing Filipino contractors and construction companies with 1,500 members nationwide.

“While the construction industry is typically much more volatile than the overall economy, it is crucial to stimulate recovery,” said Yidan Luo of the Young Professional, Transport, and Communications Department, Southeast Asian Division of the ADB said in the same discussion.

Last year, the construction sector suffered a contraction of 9.8% due to lockdown measures implemented to stem the spread of the pandemic. It has since seen points of recovery with current numbers from the Philippine Statistics

Authority (PSA) showed 4.2 million Filipinos are employed in construction up from 3.7 million in 2020. Analytics firm Fitch Solutions forecasts the industry will grow by 9.5% in 2021, expecting the Philippines to effectively contain the spread of the virus.

But in order for recovery to happen, public spending needs to be accelerated. In response, Department of Public Works and Highways Undersecretary Cathy Cabral said the government allotted more than P1.0 trillion for infrastructure for 2021.

Changes in construction

LOCKDOWN measures and movement restrictions proved challenging to the construction sector as most people are expected to be on site. Operational adjustments were then introduced to keep the sector running–changes the industry expects to stay even after the pandemic.

“We asked our people to work from home..a.monitoring was done remotely using 360-degree cameras, and we provided barracks for our workers. Our digital activities were really accelerated...due to COVID-19,” said Robert Jose Castillo, President and CEO of construction firm EEI Corporation in the discussion explaining some of the adjustments introduced during the pandemic.

The presence of vaccines will help the

industry recover though delayed rollouts will delay projects that have been shelved last year even more, according to Jorge A. Consunji, President and CEO of D.M. Consunji Inc. Construction workers should also be considered economic frontliners and should be given priority in the government vaccination rollout.

Another challenge to the sector’s recovery is talks of opening the market to foreign players. A Senate bill (S.B. 1809) was filed by Senator Ramon Revilla Jr. on September 2020 seeks to amend the Contractor’s License Law (RA. 4566), the PCA said that the proposed amendment to the law that will allow “persons, regardless of nationality or citizenship” properly licensed and registered with proper authorities to practice construction contracting in the Philippines.

The bill, if made into law will “effectively open the construction industry to foreign contractors without providing any further regulations,” said Mr. Decena.

Aside from opening the market up, the government should also focus on providing opportunities and growth paths, specially for MSME contractors, including developing the talent capacity of the local workforce to help the recovery and growth of the construction sector. The global industry local workforce is currently experiencing a skilled workforce shortage exacerbated by the health and safety measures against the pandemic.

The PCA itself has introduced capacity building programs under its Philippine Constructors Academy that includes the internationallyassured Pambansang Treyners ng Konstruksyon and the Construction Supervisors Training program in partnership with the Technical Education and Skills Development Authority (TESDA); the Construction Program Management Masterclasses, and the Procurement Observers Program to train PCA volunteers on the Bids and Awards committee procedures, the legal aspect, ethics, and integrity of being an observer.

Stay safe and strong with Calcium Cee

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ALCIUM Cee opens the second quarter of the year with an aggressive campaign on physical health and wellness as it formally welcomes Jessy Mendiola as its newest and official endorser.

Calcium Cee is a daily essential that nourishes and protects the body with the fortified double protection of vitamin C and calcium as these nutrients are known as two of the most potent in maintaining a strong and healthy body.

An immune booster and an effective aid against viral infections, vitamin C acts as a strong anti-oxidant that destroys free radicals that causes diseases. Since Calcium Cee is non-acidic and contains alkaline PH levels, it could be taken on an empty stomach and in large doses without the risk of irritation and diarrhea. Also, as it is non-sodium, Calcium Cee does not contribute to the risk of hypertension and heart disease as well as kidney disease.

“Jessy is a certified health buff and she is such an inspiration to a lot of people when it comes to living a healthy lifestyle,” says Mayette Acuña, President of Optimum Marketstrat International Inc. – the official Philippine distributor of Calcium Cee. “We firmly believe that Jessy is the best artist to represent the brand as an ambassadress because she embodies the Filipino ideal that gives much importance to excellent health and safety while working hard with honesty and integrity.”

Jessy, on the other hand, is equally ecstatic now that she is a part of the Calcium Cee Family,

MERALCO ENERGIZES NEW METPARK GAS-INSULATED SWITCHGEAR (GIS) SUBSTATION. The recently commissioned METPARK 115 kiloVolt (kV) – 34.5 kV GIS substation located at Metropolitan Park in Roxas Boulevard corner EDSA Extension, Pasay City, will provide the additional capacity needed to serve the growing demand in the commercial business district of Pasay City and provide operational switching flexibility during contingencies with adjacent CBP1-A and PAGCOR GIS substations. This project is also expected to reduce system losses, and improve system reliability and voltage regulation to the predominantly large commercial customers in the area. Despite the heightened community quarantine measures imposed within the NCR+ bubble due to the recent surge in COVID-19 cases, Meralco personnel and its subsidiaries are continuously working round the clock to execute vital capital projects to provide safe, adequate, and reliable energy service for all its customers.

Holiday Inn and Suites Makati salutes mom with homemade DIY cake for Mother’s Day

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OLIDAY Inn and Suites Makati has come up with a unique idea to show mothers how to make them feel extra special. This Mother’s Day, let’s show our moms at home that they deserve all the love and attention on this special day.

The chefs at Holiday Inn and Suites Makati have prepared a simple yet fun way of showing mom some extra love with the Mother's Day Homemade DIY Cake Kit. It’s a fun and sweet bonding activity at home for mom and kids. As they say, action speaks louder than words and there’s no better way to show your love than to make them something from the heart.

It’s time to unleash the pastry chef in you and bake a cake from scratch with this DIY cake kit which includes a cake flour mix, buttercream icing, decorative candy sprinkles, an 8-in cake pan, 3-piece spatula set, and 2 aprons. You don't have to worry if you don't have prior experience in baking, an easy-to-follow instructional baking video will be provided via a QR link. All you'll be needing is an oven, some creativity and zest and then you’re all set! The extra effort you put in to show mom

you care is indeed priceless.

Avail of this special DIY Kit for Mother’s Day for only Php 1,350 nett. Order at least one day in advance. You may have it picked up or arrange a convenient delivery at your doorstep. Available until 09 May 2021. For order and inquiries, call +632 7506 8132 or Viber +63 917 5968897. To know more about the promos and offerings, visit www.makati.holidayinn.com and like and follow us in Facebook and Instagram at HolidayInnMakati.

Join IHG Rewards Club to enjoy exclusive discounts and benefits. Sign up at http://bit.ly/HISMIHGRCSignUp.

Glan town launches book and dive tourism

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CUBA divers and aquasports enthusiasts will have more options in exploring the undiscovered marine world of southern Mindanao with the recent launch of the dive tourism program of Glan, Sarangani.

Held on the 25th anniversary of the declaration of Sarangani Bay as a Protected Seascape, the municipal government formally introduced Sumbang Point and Binuni Reef dive spots along with the launch of the coffeetable book titled “Discover Glan’s other Paradise: It’s Underwater”.

Sumbang Point, situated near Belimac Beach Reosrt is habitat to 16 genera of hard corals and five soft corals, and about 100 distinct marine species, including hawksbill turtles, giant clams, marble shrimps and rare nudibranchs.

Binuni Reef, with a maximum depth of 12 meters, has a with a vertically-zoned intertidal area with patchy seagrass. The subtidal area is characterized by colonies

of hard corals of massive, breaching and encrusting life forms. It also has 12 hard coral and four soft coral genera, and 62 distinct fish species.

The dive tourism program is supported by the DENR, the Provincial Government of Sarangani, and the Philippine Commission on Sports Scuba Diving, and the Department of Tourism which declared the Bay as the diving haven of Soccsksargen at an underwater safari in 2017.

The bay covers an area of 215,950 hectares and is also home to yellow fin tuna, sperm whales, pilot whales, dolphins, clown fishes, lion fishes, sergeant fishes, and sea turtles. Its coral resources cover more than 2,293 hectares spread in 20 coral reef areas with about 60 important live hard coral genera, and 411 reef species.

Whale sharks, cheilinus undulatos (Mameng), and dugongs (sea cows) are also occasionally sighted by environmental authorities on the bay's western side.

DOOH moves up and expands with ONE EDSA

DOOH Chief Executive Officer and President Alvin M. Carranza DOOH Sales Director Danny Ocampo

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CALCIUM CEE brand ambassador Jessy Mendiola “I’m very happy that I discovered Calcium Cee as this trusted brand is perfect for my lifestyle. I am not a fan of heavy breakfasts and since Calcium Cee is nonacidic, I could safely take it in the mornings on an empty stomach.”

“After an 8-hour sleep, I start my day with lots of water, a quick workout, and my daily dose of Calcium Cee,” says Jessy. “Though I don’t have a regular diet, I make sure that I eat everything in moderation.

Along with Calcium Cee, I also keep my essentials handy every day – face mask, hand sanitizer, and face shield.”

Jessy further adds, “I’m very grateful that I am chosen to represent this amazing product. It’s important to remind others to take Calcium Cee every day. It’s very important to take care of ourselves especially during these days where we need to stay healthy. Calcium Cee is excellent because it also has calcium which is good for

our bones. I am honored to represent a product that is truly a non-negotiable daily essential.”

With the pandemic shrouding over the lives of people, it’s never too late to take care of one’s body at any age. “Everyone should start today because it’s important to strengthen our immune system if we are to survive and weather this global crisis. With discipline and prayers, I believe that the flattening of the dreaded curve is in the horizon and the day will come that we will all go back to our normal lives and it is important to stay and keep healthy until that day comes,” says a very hopeful Jessy.

Calcium Cee is available in all Mercury Drug Store, Watsons, All Day RX, Merry Mart outlets nationwide and Alturas Bohol.

For more information, call the Calcium Cee hotline at 09175642233.

HERE’S no doubt about it. The biggest and tallest digital billboard screen on EDSA, a 34,200-square-foot tower, is a force to reckon with. After all, it has been helping global and local brands sell their products and services with much success.

Likewise, it has also been providing free broadcast announcements by government agencies in the midst of the pandemic.

The ONE EDSA, the most modern and highly technical led billboard located in Mandaluyong City is owned and managed by Digital Out-of-Home Inc. (DOOH), a media company that has been around for nearly 40 years. The man behind it is no other than advertising ace, Mr. Alvin M. Carranza, who is currently company Chief Executive Officer and President.

Carranza is a self-made man who learned the rope of advertising since his teenage years. Hurdling challenges and finding success years later, today his goal is to inspire other out-of-home media companies to become more creative and innovative and be receptive to change.

Throughout his career and professional experiences, Carranza said he has learned to remain positive and determined, especially

during difficult times such as the COVID-19 crisis. “During the pandemic, we did struggle.

Out-of-home media was directly affected.

People were forced to stay indoors during lockdown, so did our audience,” he said.

In fact, DOOH lighted its ONE EDSA billboard in August 2020 without the usual fanfare that goes with event launching.

Now slowly recovering, and keeping the firm’s goal is to be at the forefront in Asia’s advertising industry, it is just fitting for the advertising honcho to partner with the best in the industry.

DOOH is proud to announce the addition to the team of Mr. DANNY OCAMPO as sales director who joined the company in April 2018 after almost 40 years selling print advertising. He was Director for Advertising Sales for BusinessWorld prior to joining The Manila Times as Vice President for Sales & Marketing.

Completing the indefatigable sales and marketing team of DOOH are Mr. Troy Alcala as Marketing Director; Mr. Jeje Pascual as Sales Manager; Ms. Anabelle Magluyan as Marketing Officer together with Account Managers: Jerome Apin, Jayson Sinlao, Dana de Guzman, and Oliver Martin.

Marketing BusinessMirror

www.businessmirror.com.ph

Monday, May 3, 2021 B7

The coronavirus chronicles: What is your Covid personality?

PR Matters

By Millie F. Dizon

1. Deniers: who downplay the

viral threat, promoting business as usual

2. Spreaders: who want it to spread, herd immunity to develop, and normality to return 3. Harmers: who try to harm others by, for example, spitting or coughing at them 4. Realists: who recognize the reality of the potential harm

n Digital: Essence launches Essence Impact to accelerate digital transformation for non-profit organizations in APAC

SINGAPORE—Essence a global data and measurement-driven media agency which is part of GroupM, today announced the launch of Essence Impact, a pro bono initiative that helps nonprofit organizations raise greater awareness, attract more donations and recruit new volunteers via their web sites to support their causes and effect accelerated change.

Essence Impact was introduced during the Covid-19 pandemic to aid non-profit organizations in their digital transformation, as many historically depended on tentpole physical fundraising events for their operational needs. As part of the initiative, Essence helps eligible charities apply for Google Ad Grants which provides up to US$10,000 per month of in-kind search advertising. Leveraging Essence’s best-in-class digital, data, analytics and technology capabilities, the agency also assists the organizations in setting up, managing and optimising their advertising campaigns to drive traffic to their web sites.

The Essence team comprises diverse employees who volunteer and contribute to the initiative in

roles including business development, client services, marketing, media activation and project management.

Originating in APAC, Essence has since piloted Essence Impact for ACRES which supports animal protection, Bethesda Care Services which serves children, youths, families and the elderly in need in the community, and Club Rainbow which supports and empowers children with chronic illnesses and their families. Following a discovery meeting with these organizations, Essence created Google Ads campaigns targeting local and regional audiences and set up keywords, ads, and bidding based on the agency’s best practices for clients. Essence further partnered with the charities to optimise the campaigns and expand reach to attract more visitors to their web sites and continue to collaborate with them to improve visitors’ onsite experience through web site audits and conversion rate optimisation.

ACRES

With campaigns commencing in December 2020, ACRES saw a 140% year-on-year increase in its web site traffic in February 2021.

As the top traffic-driving media channel, search advertising accounted for 45% of all traffic in February 2021 and over 8,000 new online visitors in less than three months.

Suriya Ashokan, Communications Executive at ACRES Singapore, said, “Working with Essence has been a great opportunity for ACRES. Through periodic meetings, updates and professional guidance,

IMAGE COLLAGE RENDERED BY LOREINE GALANG

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FTER a year of all things Covid, we have come to realize how much the pandemic has not only changed our lives, but has also made an impact on our attitudes and our behavior. Our efforts to cope with the challenges that come with it, seem to have unearthed emerging personalities we never thought we had. Each one, it seems, has his own pandemic response.

What is your pandemic personality? And why is it important to understand it? In an Inc.com article, Jessica Stillman states that “Research Says There Are 16 Covid-19 Personality Types and Leaders Have to Plan for Them All.” She cites researcher Mimi Lam, who studies what happens when complex human and ecological systems collide. And the findings are very interesting.

In a recent paper in Humanities and Social Sciences Communication, Lam breaks down people’s response to the pandemic and explains how understanding the “16 Covid personality types” can help leaders design better pandemic plans. Here is her list of personalities:

and adjust their behaviors

believe themselves to be immune

5. Worriers: who stay informed and safe to manage their uncertainty and fear

9. Rebels: who defiantly ignore social rules restricting their individual freedoms

6. Contemplators: who isolate and reflect on life and the world

10. Blamers: who vent their fears and frustrations onto others

14. Altruists: who help the vulnerable, elderly, and isolated

11. Exploiters: who exploit

15. Warriors: who, like the

7. Hoarders: who panic-buy

and hoard products to quell their insecurity

8. Invincibles: often young, who

we have learnt a lot more about the benefits of having an online presence. As part of our advocacy efforts, making our advisories visible when the public seeks help online during human-wildlife conflict situations in Singapore is key. As Singapore evolves into a ‘City in Nature’, there is a pressing need for more individuals to be aware of wildlife etiquette.”

Bethesda Care Services

Campaigns went live in November 2020 and Bethesda Care Services’ web site traffic grew by 288% year-on-year in January 2021, with search advertising contributing to 56% of all traffic that month. The efforts resulted in over 3,000 new online visitors in less than three months.

Kai Lin Sng, digital marketing specialist at Bethesda Care Services, said, “Working with Essence has been a great learning experience for the Bethesda Care Services Communications team as we have gained much technical insight. Meetings are effective and reviews are detailed yet concise. The Essence team is patient to listen and understand our organization’s objectives and includes our inputs in the execution of our campaigns. We are extremely grateful to the Essence team for helping us to be more effective in our ultimate goal to care for our community.”

Club Rainbow

Following the start of campaigns in November 2020, Club Rainbow experienced a jump in web site traffic by 133% yearon-year in January 2021. Search advertising garnered 45% of all

the situation for power, profit, or brutality

12. Innovators: who design or

traffic in January 2021 and more than 4,000 new online visitors in less than three months.

Dr. Sashikumar Ganapathy, President at Club Rainbow (Singapore), said, “Working with Essence enables us to amplify our online presence. Club Rainbow is looking forward to a closer partnership with Essence, further strengthening our online marketing strategy, and driving greater awareness and support for our children and their families.”

Matt Holland, associate vice president, Client Services, APAC at Essence, who leads Essence Impact in the region, said, “It has been challenging times for charities amid Covid-19 and its resulting lockdown restrictions, as the organizations have not been able to carry out their usual fundraising events. Essence Impact is supporting charities to help drive increased awareness, donors, and volunteers online, as the organizations pivot their activities to be more digitallyled.”

Monica Bhatia, senior vice president, Client Partner, APAC and managing director, Singapore at Essence, said, “Google Ad Grants helps non-profits share their causes with the world via Google search ads. In line with Essence’s mission to make brands more valuable to the world, we also believe in using our abilities for social good and that we have a responsibility to make the world a better place.

With Google Ad Grants and Essence Impact, we are delighted to help non-profits transform and accelerate their efforts in the pandemic and beyond while providing our teams with opportuni-

repurpose resources to fight the pandemic

13. Supporters: who show their solidarity in support of others

frontline health-care workers, combat its grim reality

16. Veterans: who experi-

enced SARS or MERS and willingly comply with restrictions “You’ll recognize these types from your Facebook feed and the nightly news,” says Stillman.

Many of us are actually a composite of two or more personalities. For example, a Veteran can also be an Innovator.

But she says that “the value of Lam’s work isn’t in creating a characterization system to label your looniest colleagues.”

Instead, “it’s to remind everyone charged with leading through this difficult time that humans act in diverse and sometimes difficult ways when faced with uncertain, invisible threats.” And awareness about the different personality types is especially helpful for leaders.

That is because, “understanding the diverse ways people respond to a pandemic is a challenge to leaders who must manage diverse, mutually exclusive, and sometimes downright toxic responses to the pandemic within their teams. But it helps them make better plans.”

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman.

We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

ties to learn new skills and give back to society.”

With Google Ad Grants available in 68 countries around the world, Essence aims to roll out Essence Impact across APAC and globally via its network of offices. Interested non-profit organizations can contact the agency for support at charitiesapac@essenceglobal.com.

Warzone is also a popular game among streamers and was the 6th most streamed game on Twitch. The popular online Battle Royale game was streamed for an estimated combined total of 3.48M hours. A total of 210,205 gamers streamed Warzone on Twitch for the month of March giving it the 8th most on the platform.

n eSports: COD: Warzone viewership on Twitch increased by 24% MoM in March 2021—91M hours watched

Warzone Part Of Popular Battle Royale Trend

LONDON, UK—Call of Duty: Warzone remains as one of Twitch’s most-watched games a year since its first release. According to data presented by 123scommesse.it, COD: Warzone was watched for a total of 91M hours on Twitch in March 2021—a 24% MoM increase from February.

COD: Warzone Popular Among Twitch’s Viewers And Streamers

COD: Warzone celebrated its first year anniversary on March 10 2021 and continues to perform strongly for the COD franchise.

Warzone was watched on Twitch for an estimated combined total of 91M hours for the entire month of March—a 24% increase from February’s viewership numbers.

As of writing, Warzone’s viewership for the month of March is also the third-largest recorded month since the game’s launch and the highest since May 2020.

Warzone also set the 7th highest number of peak viewers with 411,804 in March.

Warzone is part of an increasingly popular game mode known as Battle Royale. Fortnite was the most-watched BR game across all three major platforms in February 2021 with an estimated combined total of 127M hours watched. Warzone was the fourth most-watched with a combined total of 86M hours across all three platforms.

Warzone Hit 100m Players in April

In April 2021, Warzone reached an important milestone as it announced it had breached the 100M player count.

Rex Pascual, Esports Editor at 123scommesse.it, commented on Warzone’s success: “Warzone was the COD franchise’s first foray into free-to-play games, as part of a new three-pronged business plan that also included the release of COD mobile. Since its release, Warzone has become an important part of the sales funnel for the franchise attracting new players to the fan base. As a direct result of Warzone’s success, COD: Modern Warfare was ranked as the highest-grossing premium game of 2020.”

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OKYO—The Tokyo Olympics torch relay took another detour over the weekend when it entered the southern island of Okinawa.

A leg of the relay on Okinawa’s resort island of Miyakojima set for Sunday has been canceled altogether with coronavirus cases surging in Japan. Other legs on Okinawa will take place.

A 17-day state of emergency went into effect on April 25 in some areas in Japan, which has shut down department stores and bars in Tokyo and the country’s second largest metropolis of Osaka.

“We don’t want people from outside the island coming in. Human life is at stake,” Hayako Shimizu, a teacher in Miyakojima, told The Associated Press.

The relay, which will involve 10,000 runners from every corner of Japan, started six weeks ago and has been mostly on schedule despite major rerouting in Osaka and in Matsuyama City in nearby Ehime prefecture.

Organizers on Saturday said that six people helping with traffic control on April 27 in the southern prefecture of Kagoshima had tested positive. Two were identified as men in their 20s and 30s. No other information was immediately available. This brings the total number of positive tests on the relay to eight, according to organizers.

The relay is made up of a convoy of about a dozen vehicles with sponsors names festooned on them: CocaCola, Toyota Motor Corp. and Nippon Life Insurance Co. The torch bearer follows, each running for a couple of minutes, before giving the flame to the next runner who awaits holding another torch.

The torch relay—like planning for the postponed Olympics that are to open on July 23—is filled with uncertainty, constant changes, and questions about why it is taking place, and how it will take place.

A six-day, on-and-off diving event opened Saturday in Tokyo with 225 athletes from 46 countries—but no fans.

It was not immediately clear where the athletes were staying or under what quarantine conditions, if any, they entered Japan. It’s also not clear how many staff members accompanied the divers.

Sports BusinessMirror

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| Monday, May 3, 2021

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

TORCH TAKES DETOUR MALAYSIA’S Ng Yan Yee and Sabri Nur Dhabitah dive during the women’s synchronized 3-meter springboard preliminary at the Tokyo Aquatics Centre in Tokyo. AP

Medina Spirit gives Baffert record 7th win in Kentucky

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OUISVILLE, Kentucky—John Velazquez was in a familiar place, in the lead aboard Medina Spirit in the Kentucky Derby and holding off the stretch bid of three challengers. This time, Bob Baffert couldn’t believe what he was seeing.

Medina Spirit won by a half-length on Saturday, giving Baffert his seventh victory, the most of any trainer in the race’s 147-year history.

The jockey and trainer—both Hall of Famers—teamed up eight months ago to win a pandemic-delayed Derby in September with Authentic, who raced to an early lead and hung on.

That wasn’t so surprising.

This one was.

Sent off at 12-1—astronomical odds for a colt trained by the white-haired, two-time Triple

Crown winner—Medina Spirit was in a street fight thundering down the stretch.

The dark brown colt was pressed by Mandaloun on his outside. Hot Rod Charlie was coming fast outside of Mandaloun, with 5-2 favorite Essential Quality giving chase on the far outside.

“I kept waiting for all those horses to pass him,” Baffert said. “When he got to the eighth pole, we said, ‘This guy has got a shot.’”

Velazquez knew he had plenty of horse left.

“We got to the 16th pole and he put his ears down and kept fighting,” the jockey said. “I was so proud of him.”

In the paddock, Baffert watched in amazement as one of the least heralded Derby

runners of his long career dug in at the front.

“You could tell he was laying it down and Johnny was riding hard,” Baffert said. “He was just relentless.”

Medina Spirit led all the way and ran one and one-fourth miles in 2:01.02. He paid $26.20, $12 and $7.60. The victory was worth $1.86 million.

Velazquez earned his fourth Derby victory aboard the colt that was purchased as a yearling for $1,000 and was a bargain-basement buy at $35,000 for current owner Amr Zedan of Saudi Arabia. By comparison, Zedan recently paid $1.7 million for an unraced 2-year-old.

“He doesn’t know how much he cost,” Baffert said, “but what a little racehorse.”

Baffert punched his right arm in the air after

Contacted by AP, Tokyo organizers said they understand “that the athletes are entering Japan based on the guidelines provided by JASF (Japanese swimming federation) and approved by Fina.”

They referred further enquires to Fina and local swim officials.

The Japanese news agency Kyodo, citing the Japanese Swimming Federation, said a coach of the Egyptian diving team tested positive for Covid-19 upon arrival in Japan. It said the rest of the team tested negative.

The world governing body of swimming Fina listed one of divers in Tokyo as former Olympic bronze medalist Tom Daley of Britain. But other divers were from various countries including Mexico, Germany, Canada, Romania, Colombia, Japan, Malaysia, Ukraine and Russia.

The diving event is one of several tests this month— all without fans. Organizers say they will be decide in June how many fans—if any—will be allowed for the Olympics. Fans from abroad have already been banned.

In a briefing on Friday, Hidemasa Nakamura, the games delivery officer, pushed back against repeated reports that the venues will be empty.

“Of course we are looking at the possibility of letting spectators in,” he said.

Nakamura also said the focus was on “how safely we can have the games” and not on whether they should take place in the middle of a pandemic.

Others are not so sure about allowing 15,000 Olympic and Paralympic athletes into Japan.

One is Canadian Hayley Wickenheiser, a four-time Olympic gold medalist in ice hockey who just completed medical school. Wickenheiser is also a member of the International Olympic Committee Athletes’ Commission, and was one of the first a year ago to say the Olympics should be postponed.

“I would love to see the games happen, it would be a great message of hope for the world. But I think we always have to remember what we’re in the middle of right now,” Wickenheiser said in an interview with the Canadian Broadcasting Corp. AP

watching the finish on the video board. He was buried in celebratory hugs by his wife, Jill, and youngest son, Bode. Jill Baffert had reason to celebrate earlier, when a horse she co-owns and is trained by her husband won a $500,000 race on the undercard.

“I’m really, really surprised,” the 68-year-old trainer said of Medina Spirit.

It wasn’t false modesty. Baffert had been low-key about his chances after two of his best horses—Life Is Good and Concert Tour—were derailed along the Derby trail.

Medina Spirit isn’t the typical high-priced

talent with a fancy pedigree in Baffert’s California barn.

“I cannot believe he won this race,” the trainer said. “That little horse, that was him, all guts. He’s always shown that he’s been an overachiever. His heart is bigger than his body.”

Medina Spirit has never finished worse than second in six career starts and two of his three losses came to Life Is Good, who likely would have been the Derby favorite had he not been injured.

“I’ve rehearsed this speech in the shower and treadmill,” Zedan said. “Never thought I was going to do it, but here I am.” AP

Ancajas joins Marcial camp in Zamboanga

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By Josef Ramos

NTERNATIONAL Boxing Federation (IBF) super flyweight champion Jerwin “The Pretty Boy” Ancajas received from the Philippine Navy the prestigious “Gawad sa Kaunlaran Award” on Saturday and on Monday he will fly to Zamboanga City to help train Tokyo Olympicsbound Eumir Felix Marcial.

And while in Zamboanga, Ancajas will pay his benefactor—Big Boss Cement chief Engineer Gilbert Cruz—a visit to make the most of his stay in Zamboanga.

“Jerwin and Jonas Sultan [sparring partner] will join Eumir at his training camp in Zamboanga,” said Joven Jimenez, Ancajas’s trainer and manager. “Jerwin will primarily help Eumir in ring tactics and IQ.” Ancajas as a super flyweight weighs around 52 kgs while Marcial, a middleweight, maintains 69 kgs.

Marcial set up camp at the Zamboanga MLV Boxing Gym in Zamboanga City and is being monitored by Association of Boxing Alliances in the Philippines coach Gerson Nietes. He will test his Olympic readiness in Asian Elite Men and Women Boxing Championships which was moved from Covid-19 stricken New Delhi to Dubai from May 21 to June 1.

Ancajas, 29, cross training at the Naval Special Operations Group (NAVSOCOM) base in Sangley Point in Cavite before the pandemic. He retained his title against mandatory challenger Jonathan Javier Rodriguez of Mexico last April 10 in Connecticut.

A reservist with a rank of senior chief petty officer, Ancajas thanked Navy Vice Admiral Giovanni Carlos Bacordo, Flag Secretary Captain Oliver Reforba, NAVSOCOM Commander Capt.

Dwight Steven Dulnoan, Marine Commandant Major General Ariel Caculitan and Naval Reserve Command’s Rear Admiral Dorvin Legaspi, Rear Admiral AFP Vice Comamnder Adeluis Bordado, Rear Admiral Chief of Staff Nichols Driz, Brigadier General. Jose Johnriel Cenabre and retired Fernando Parcon.

Thomas crashes, Woods prevails

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HYON, Switzerland—Geraint Thomas crashed to the rain-soaked road in a sprint finish in the main mountains stage of the Tour de Romandie on Saturday, gifting victory and the leader’s yellow jersey to Michael Woods.

Thomas, the 2018 Tour de France winner, had taken the lead in a two-rider race to the finish of a chilly, 161-kilometer stage when he slipped out of the saddle with about 30 meters left.

“I just had no feeling whatsoever in my hands,” he said. “I tried to change gear, but instead I just lost the bars. It’s so frustrating.”

Woods crossed the line alone, 17 seconds ahead of Ben O’Connor, who rounded Thomas as the Welshman

John Velazquez rides Medina Spirit to victory. AP

ENGLAND’S Geraint Thomas falls and could only watch Canada’s Michael Woods to sprint to the finish line. AP

Over ramen RICK OLIVARES | bleachersbrew@gmail.com

BLEACHERS’ brew THE Yasai Ramen was begging for me to sink my chopsticks and spoon into its finely arrayed vegetables.

I was famished. But I was worried.

Ramen is healthy some say because of the nutrients—others say it isn’t because of the sodium, sugar and fat.

Do they cancel each other out more so because its veggie ramen? I mean there are scallions, sweet corn, seaweed, shiitake mushrooms, bean sprouts and some carrots.

It isn’t often I eat this, I reasoned out as I took my first slurp. The mélange of flavors and hot soup warms me up.

It is also my first time to go out since the second ECQ was declared in Metro Manila. I only did so because I had something to pick up at the mall.

The mall. It looks like a ghost town. About a month and change ago, there were more stores and restaurants open.

Not today as more had closed.

I scan my smart phone. A volleyball player

remounted and slowly got moving again to finish third.

Thomas lost 21 seconds in the stage and trailed Canadian Woods by 11 seconds overall.

The six-day race through the Frenchspeaking region of Switzerland ends on Sunday with a 16-kilometer (10-mile) time trial where Thomas is favored to win back time.

“I feel fine [physically], it’s more the frustration after such a hard day, to lose time like that at the end,” Thomas said. “Eleven seconds behind, so it’s all to play for.”

O’Connor is third in the overall standings, trailing Woods by 21 seconds. AP

has opted not to try out for the national team owing to safety concerns. I cannot blame her.

I am at actually a loss to whether sports should be played with the pandemic far from beaten. While it does provide entertainment, I can’t get really into it.

I know it is good for these athletes to be paid but I wonder where they are mentally as well. But then again, they are actually closer to living their pre-Covid lives. More than most folks.

At this point, the ramen isn’t as hot as it was when first served. It can be actually filling even if it’s just veggies. I am surprised that I am a bit full.

It isn’t because I had some gyoza as well. I normally handle them quite well.

In my opinion, what makes gyoza succulent is thin dough being not too thick and steamed or pan fried just right so they soy sauce is sucked in adding to the flavor.

Speaking of the word “suck” I had the breath and interest sucked out of me with this turbulent, disappointing, and annoying season of Liverpool. Their title defense wasn’t even

halfway through when they were done.

I thought that the long lay-off from last season’s global lockdown hurt them in far more ways than their injuries have.

Adding to this is the fallout from the Euro pean Super League.

I guess we’ll have to wait and find out about six weeks from now what happens to the dethroned Reds and well, the rest of the European footballing world.

I wonder—like Covid—is the worst yet to come? Jeez, I hope not.

By the time I am done mulling this over, I’m down to just some cabbage, corn, and a few noodles. I have two more slices of gyoza.

The hot tea helps wash the aftertaste down.

Or did it.

A cursory glance on my phone’s newsfeed has Milwaukee Bucks star Giannis Antetokounmpo suing an artist for using his likeness on t-shirts he is selling online. The artist did follow the cease-and-desist order but was stilled rapped by a suit to the tune of $2000!

While the Bucks’ star just signed a $225-million-dollar contract and the $2,000 is chump change, it is both annoying. Does Giannis need the money? But then again, people mooching off their success is also wrong. I guess, they should know that, right?

I decided I didn’t want to bother thinking about it. Covid has me concerned enough.

I finish the last of my food by my lonesome.

I just had an internal conversation with myself. Over ramen.