BusinessMirror May 10, 2021

BSP: PHL BANKS STAYED

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n Monday, May 10, 2021 Vol. 16 No. 208

P25.00 nationwide | 2 sections 18 pages |

SOUND IN H2 AMID COVID BOI prods Korean EV makers to bet on PHL

By Cai U. Ordinario @caiordinario

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ARMORED personnel carriers make their way along traffic as they augment security forces in Datu Paglas, Maguindanao, on Saturday, May 8, 2021. Dozens of Muslim militants occupied a public market overnight in the southern Philippines before fleeing after a tense standoff with government forces, officials said Saturday. Story on page A10. FERDINANDH CABRERA VIA AP

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By Bianca Cuaresma

@BcuaresmaBM

HE Philippine banking system remained fundamentally sound in the second half of 2020, amid economic and business disruptions caused by mobility restrictions to curb the spread of Covid-19.

The Bangko Sentral ng Pilipinas (BSP) said in a report published over the weekend their recent comprehensive review showed that banks were able to weather the effects of the pandemic while ensuring relevant delivery of financial services crucial to the domestic economy.

In particular, the report said banks got passing grades on all five financial soundness indicators

(FSIs) in the second half of 2020.

FSIs assess the banking system’s strengths and weaknesses. The BSP follows the International Monetary Fund (IMF) methodology of having a core set of FSIs identified under the headings of Capital adequacy, Asset quality, Earnings and profitability, Liquidity, and Sensitivity to market risk.

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PESO EXCHANGE RATES n US 47.9790

MEGAWORLD DEAL RAISED IN NAYON VAXX SITE ROW

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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EELS like déjà vu.

The site of the disputed mega-vaccination center at the Nayong Pilipino Foundation (NPF) property in Parañaque City, is part of the 9.5-hectare property where Hong Kong-based casino and resort developer, Landing International Development Ltd., would have built its casino. Until the entire board of the NPF was fired by President Duterte in August 2018, that is, for signing a contract with Landing that was then deemed highly disadvantageous to the national

government as the project did not undergo bidding.

This time around, it is the current NPF Board of Trustees that is holding on to the property, according to BusinessMirror sources, apparently to “protect” a contract with Megaworld Corp., from which it receives some “P51 million a month” in rent.

The lease contract, which covers 5.5-hectares, was also signed by the previous NPF Board, and did not undergo bidding, the same sources added. This prompted the Department of Tourism (DOT) to seek a legal opinion from the Department of Justice (DOJ) on whether that contract could be enforced by the current NPF Board.

The disputed lot was to be the site of NPF’s Project Sambayanihan, a 9.5-hectare urban forest park and creative hub. NPF’s property along New Seaside Drive in Parañaque spans 15-hectares of reclaimed land, planted with fast-growing ipil-ipil, a shrub endemic to Mexico.

The proponent of the megavaxx center, ICTSI Foundation, has hired renowned architect and environmental planner Felino Palafox Jr. to design the facility.

The architect earlier clarified that the space the NPF assigned for the facility is “away from the trees.”

(See, “Mega-Vaxx Site at Nayong Pilipino Stalled,” in the BusinessMirror, May 7, 2021.)

See “Megaworld,” A2

OLLOWING passage of a law that reduced the corporate income tax (CIT), the Philippines is encouraging South Korean manufacturers of electric vehicle (EV) parts and semiconductor firms to invest in or expand their operations in the country.

Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo said these firms can also access tax incentives such as the Income Tax Holiday (ITH) which is good for 4 to 7 years.

The BOI is the government’s lead industry and investment promotion agency. Rodolfo made the statements in a recent online briefing on the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and the Strategic Investment Priority Plan (SIPP).

“With CREATE in place, we are encouraging South Korean firms, especially those engaged in strategic activities like EV/EV parts and semiconductor manufacturing to invest or expand in the country and take full advantage of this landmark legislation,” Rodolfo said.

“We are strongly optimistic of a resilient post-pandemic recovery as the fundamental structure and strength of our economy remain intact. We positively respond to the easing of quarantine restrictions,” he added.

Rodolfo added that after the ITH, export-oriented companies can enjoy 10 years of—at their choice— either Enhanced Deductions or the Special Corporate Income Tax (SCIT) of 5 percent on Gross Income Earned.

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n JAPAN 0.4399 n UK 66.6524 n HK 6.1766 n CHINA 7.4236 n SINGAPORE 35.9960 n AUSTRALIA 37.3277 n EU 57.8819 n SAUDI ARABIA 12.7948

Source: BSP (May 7, 2021)

News

BusinessMirror

A2 Monday, May 10, 2021

Register now, Comelec and Vote Pilipinas prod voters

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By Roderick L. Abad | Contributor

HE Commission on Elections on Sunday reminded firsttime and other unlisted voters to register now, as there will be no more extensions for the deadline of registration by the end of September this year.

At the online launch of the Voter Registration Month organized by the poll body’s information campaign partner Vote Pilipinas, Comelec Director James Jimenez told reporters they cannot postpone again the target date since the filing of Certificates of Candidacy (COC) for all elective positions will follow as scheduled on October 1, a day after the listing of new and other unregistered voters ends. “[It] means that we have to start preparing for election day documents that we call ‘project of precincts,’ and the only way we

can start doing that is if the voter registration is already closed,” he said in mixed Filipino and English.

Jimenez pointed out that preparations for the May 9, 2022 National and Local Elections would be difficult if the figures for registered voters continue to grow due to the extended deadline.

“We print only the exact number of ballots as there are voters.

So if the target number of voters is moving, our printing target is also moving. That’s kind of difficult. We have to put a stop to it at some point. So September 30, 2021,

that’s your deadline,” he said.

With over four months prior to the end of the voter registration, Vote Pilipinas and Comelec kicked off the month-long election-related celebration aimed at increasing the number of registered voters by 10 percent to 68.8 million by 2022.

The Voter Registration Month serves as a headstart for their twopronged initiatives—the ongoing registration campaign and the vote campaign come October 2021.

To encourage the enlistment of more new voters, which currently count at around 1.5 million, there will be a Mobilization Program that is efficient and effective to help ensure that local communities will be 100-percent registered to vote.

“We would like to take this time to invite all the community groups and organizers of different communities and organizations to work with us to echo the call for seven million more people to register for the upcoming 2022 elections,” said Ces Rondario, founder of Vote Pilipinas and chief executive officer of Impact Hub Manila.

“One year to go and yet, as far as our target is concerned, we’re still

5.5 million away from our goal of seven million. But [we’re] hopeful that with all of our help and all of your help we can really make this happen,” she added.

To help drum up interest in the observance of voter registration this month with numerous online activities lined up by Vote Pilipinas, the Comelec is set to announce very soon the rules for satellite registration.

“This will become part of the usual process for voter registration,” the spokesperson said. “We are seeing that the number of new voters registering with us is really increasing. So this early, again fourand-a-half months before the end of registration, we can still accommodate them.”

Asked whether the popular community pantries initiated by Ana Patricia Non on Maginhawa Street could be tapped to reach out to more people, he said this could be tapped for the distribution of voter registration forms.

“There’s no problem with that.

In fact, some people have already approached us to ask about that.

They can do that. That will help a lot,” Jimenez stressed.

CHURCH BELLS TOLL TO CALL VOTERS TO REGISTER

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HURCH bells tolled on Sunday as part of attempts by Church leaders to get more than 6 million “deactivated” voters to register once again with the Commission on Elections as the nation prepares for the 2022 national polls.

In a statement, Caritas Philippines said the initiative aims to show support for the initiatives of the Eleksyon 2022 Koalisyon, “a nonpartisan, multisectoral coalition of 29 civic and religious organizations and individuals to encourage eligible citizens to register and vote.”

Citing Comelec data, it lamented that of the 7 million “deactivated” voters, only 700,000 have registered again to be able to participate in the 2022 National and Local polls.

“Let’s awaken and enliven once more our love for the country. Register to vote,” said Kidapawan Bishop Jose Colin Bagaforo, national director of Caritas Philippines.

A voter may be “deactivated” for several reasons, including failure to vote in at least two previous elections.

Other grounds for deactivation include being sentenced with impris-

BSP: PHL BANKS STAYED SOUND IN H2 AMID COVID Continued from A1

For capital adequacy, the banks’capital adequacy ratio (CAR) hit an average of 17.1 percent as of endDecember 2020. The minimum required by the BSP is 10 percent.

The system’s asset quality, as measured by the ratio of non-performing loans to the banks’ total loan portfolio, went up by 3.6 percent as of endDecember 2020, higher than 2.6 percent in the previous semester and 2.1 percent in the same period last year.

“On the whole, Philippine banks have continued to rein in the NPL ratio within manageable level for more than 10 years, reflecting gains from prudent reforms and improvements in banks’ credit risk management systems,” the BSP said.

The BSP also noted that while the average net profit of the banking system declined during the pandemic due to decreased operating hours, overall the banking system remained profitable.

“Banking operations were affected by the pandemic as the net profit of the banking system shrank by 32.8 percent to P155 billion for the year ended December 2020,” the BSP said.

“Nonetheless, the positive bottom line mainly resulted from net interest income earned from lending activities,” it added. Meanwhile, the banking system’s liquidity and sensitivity to market risk also improved during the period.

“The Covid-19 pandemic tested the resilience of the banking system and the robustness of the financial ecosystem as the country reacted to the global health crisis. This novel crisis significantly affected the banking operations as the community quarantine and social distancing measures prompted banks to adjust their daily banking services,” BSP Governor Benjamin Diokno said.

“Moving forward, the BSP stands committed and ready with its enhanced onsite and off-site surveillance tools and prudential policy toolkit to promote the financial sector reform agenda for sustaining the sound and stable financial system conducive to a strong, dynamic and inclusive economic growth recovery for all Filipinos,” Diokno added.

onment for not less than one year; being found to have caused/committed any crime involving disloyalty to the duly constituted government, such as rebellion, sedition, violation of the anti-subversion and firearms laws; Voters declared by competent authority to be insane, ordered by the Court to be excluded from the voters’ list, or those who lost their Filipino citizenship, may also face deactivation from Comelec.

Several churches, including the Manila Cathedral, joined in the awareness campaign by tolling their bells for three

minutes at noon time on May 9, 2021.

Former Comelec Chairman Christian S. Monsod serves as lead convenor of Eleksyon 2022 Koalisyon, and former Comelec Commissioner Luie Tito F. Guia is the group’s national coordinator.

“The coalition hopes to register an additional 7 million voters through their #RegiToVote campaign that hopes to mobilize citizens through encouraging local voters’ registration initiatives on the ground and through social media,” Caritas Philippines said.

Samuel P. Medenilla

Lacson: Tap Congress insertions to bankroll ₧20-B Covid vaccines

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ENATOR Panfilo Lacson, following consultations with Palace officials looking for funds to bankroll P20-billion Covid vaccines, suggested tapping “multimillon” congressional insertions in the national budget.

“Why not use the humongous congressional insertions tagged by the Department of Budget and Management (DBM) as ‘For Later Release’ (FLR) to meet the P20-billion requirement for Covid vaccines for this year?” Lacson said in an interview with DWIZ at the weekend, following Thursday’s meeting between him and Senate President Vicente Sotto III, and the “three czars” of the government’s Covid-19 response program.

Lacson confirmed he “suggested that the P20 billion can be sourced from the insertions made by lawmakers marked ‘FLR’ because the implementing agencies concerned were not consulted on the insertions and thus could not implement them,” he told DWIZ on Saturday.

The senator recalled that during his interpellation of the Department of Public Works and Highways’ (DPWH) 2021 budget last year, some “favored” districts got huge outlays in the General Appropriations Bill—one got P15.351 billion, while another

got P10.299 billion. Another got P7.924 billion, while still another got P7.559 billion.

An avowed critic of the “pork barrel” setup, Lacson added the “huge unused appropriations” of several executive agencies like the Department of Education, Department of Transportation and DPWH—which has a history of low utilization and a poor disbursement record—can also be tapped for the purpose.

On the other hand, there is a huge amount of unused appropriations that can be realigned,” he said, noting that “under the Constitution, the President can also realign funds in the Executive department; the Chief Justice can realign funds in the judiciary; and the Senate President and House Speaker can realign funds in the legislative branch. If for example, there are unused funds in the DepEd, DOTr, and DPWH, it will be relatively easy to source the P20 billion.”

The Senator recalled that he and Senate President Vicente Sotto III suggested that the three “czars”— Secretaries Carlito Galvez for vaccines, Vince Dizon for testing and Benjamin Magalong for contact tracing—initiate talks with Budget Secretary Wendel Avisado to determine which parts the 2021 budget can be realigned for the vaccination program.

Butch Fernandez

PALACE LAUDS INC ROLE IN DEVELOPMENT

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ALACAÑANG on Sunday lauded the continuous role of the Iglesia ni Cristo (INC) in the country’s development, especially amid the Covid-19 pandemic.

In a statement, Presidential chief legal adviser Salvador Panelo noted that the sociocivic programs helped many people living in poverty or coping with calamities, including the pandemic.

Panelo issued the statement as INC celebrated the 135th Birth Anniversary of Brother Felix Y. Manalo on Sunday as well as the 41st Anniversary of Bro. Eduardo Manalo as Executive Minister of the INC every May 10.

“The Iglesia ni Cristo, for many years, has also been extending help to those in need, especially to victims of disaster and calamity,” Panelo said.

“At the onset of the Covid-19 pandemic, the Philippine Arena was converted into a mega quarantine facility dubbed the ‘We Heal As One Center,’ which can accommodate 300 patients and 300 frontline health workers,”he added. INC also provides food, livelihood, and shelter to its selected beneficiaries under its regular civic programs.

Panelo said the government will continue to support “spiritual care and charitable service” provided by INC to Filipinos. Samuel P. Medenilla

www.businessmirror.com.ph

7K new Covid cases, 204 deaths listed by DOH

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HE Department of Health (DOH) on Sunday logged 7,174 additional Covid-19 cases, bringing the total number of infections in the country to 1,101,990.

There were also 9,197 recoveries and 204 deaths.

Of the total number of cases, 5.6 percent (61,294) are active cases, 92.8 percent (1,022,224) have re-

covered, and 1.68 percent (18,472) have died.

Moreover, 149 cases that were previously tagged as recoveries were reclassified as deaths after final validation.

All laboratories were operational on May 7, 2021 and all were able to submit their data to the Covid-19 Document Repository System.

Claudeth Mocon-Ciriaco

Galvez urges Nayon execs: Let mega-vaxx center proceed ‘T IME is of the essence,” said government’s vaccine czar, as he appealed to the Nayong Pilipino Foundation (NPF) Board of Trustees to sign a memorandum of agreement (MOA) paving the way for the construction of a mega-vaccination facility on a portion of its 15-hectare property in Parañaque City.

In a news statement on Sunday, National Task Force Against Covid-19 Chief Implementer Secretary Carlito G. Galvez Jr. said, “ With the government’s target of vaccinating 500,000 persons per day in the NCR [National Capita l Reg ion] and 200,000 people daily throughout other parts of the country, this vaccination center brings us closer to our goal of inoculating at least 50 million Filipinos and achieving herd immunity within this year.”

The mega-vaxx facility, which can inoculate about 12,000 persons a day, will be built for free by the ICTSI Foundation, the social responsibility arm of listed global port operator, ICTSI. “With the expected arrival of the bulk of our vaccine orders by the second and third quarter of this year, it is crucial to build up our country’s capability to handle and administer them. And the key in this line of effort is the establishment of more vaccination centers nationwide,” said Galvez.

“We therefore call on the NPF to heed our call and sign the MOA as soon as possible. We can no longer afford to waste time. The future of our people and nation depends on it,” he underscored.

Trees vs lives

“[WE] believe it is inappropriate for the NPF to equate the fate of 500 Ipil-Ipil trees with the lives of hundreds of thousands, if not millions of Filipinos. Moreover, the proposed site of the facility is a reclaimed piece of land and not a protected forest or a marine sanctuar y,” explained Galvez.

Ipil-ipil is a shrub that can grow in three years, and not endemic to the Philippines.

ICTSI Foundation has hired renowned architect and environment planner Felipe Palafox Jr. to design the facility. “Considering Mr. Palafox’s track record, we are confident he has already factored in the environmental impact of the project in the design of the vaccination center. He said that he respects the environment and will make sure his firm’s design will reflect this belief.” (See, “MegaVaxx Site At Nayong Pilipino Stalled,” in the BusinessMirror, May 7, 2021.)

The NTF chair also attested to the character of ICTSI chairman Enrique K. Razon Jr. “[His] integrity is beyond question. It was through his efforts that private firms forged a tripartite agreement with the national government to procure 7 million additional doses of Moderna vaccines.”

Galvez added that ICTSI Foundation “also spent billions of pesos for the purchase of medical supplies and equipment, relief goods and personal protective equipment for health care workers, as well as the establishment of the biggest mega temporary treatment and monitoring facilities for our Covid-19 positive patients. Ma. Stella F. Arnaldo

Megaworld…

Resorts World to fund cultural park

A SERIES of memos regarding the mega-vaxx facility obtained by the BusinessMirror confirms the lease contract between the NPF and Resorts World Bayshore City Inc., the integrated casino resort developer of the Andrew Tan-led Megaworld Corp.

In a memorandum to NPF Executive Director Lucille Karen E. Malilong-Isberto dated April 6, 2021, Tourism Secretary Bernadette Romulo Puyat asked: “The undersigned wishes to clarify if Nayong Pilipino will fund the same [Sambayanihan Park] using the advance lease rentals from Megaworld? If so, the Board may wish to consider that there is still a pending request for an opinion from the [DOJ] on the validity of the Megaworld lease contract entered into by the previous board. The undersigned encourages the Board to exercise caution and circumspect on this regard.”

In response, Malilong-Isberto said: “In connection with Project

Continued from A1

Sambayanihan, indeed, the intention is to fund the same using the advance lease rentals from Megaworld/Resorts World Bayshore City Inc. (RWBCI). While we are aware that there is a pending request for opinion from the [DOJ], it is imperative that the essential facts be disclosed in order for it to properly render such a decision.”

Government sources disclosed, however, that documents promised by the NPF have yet to be turned over to the DOJ. Malilong-Isberto resigned as an NPF Trustee on May 5 but did not give a reason for her action in the letter she addressed to President Duterte through Executive Secretary Salvador Medialdea.

In its meeting on April 10, the Inter-Agency Task Force on the Management of Emerging Infectious Diseases approved the use of the NPF property for the mega-vaxx center. While the NPF is a government-owned and -controlled corporation under the DOT, it is not chaired by the tourism secretary.

The Nation BusinessMirror

www.businessmirror.com.ph

PNP Chief Eleazar cites rules of conduct in Covid response

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RESIDING over his first command conference last Saturday, National Police Chief General Guillermo Lorenzo T. Eleazar outlined police’s role in government’s response against the pandemic.

During the meeting, held a day after he assumed command of the Philippine National Police (PNP), Eleazar and the police commanders discussed the preparation of detention facilities in anticipation of more arrests following President Duterte’s order to take into police custody persons not wearing face masks in public places or those who wear them improperly.

“One of the concerns that need to be addressed is the availability of our detention cells,” Eleazar reportedly told the commanders. “Alam naman natin na bago pa ang direktibang ito ng ating Pangulo, may mga pagkakataong kinukulang na talaga ang ating mga pasilidad kung kaya’t dapat natin itong paghandaan. [We already know that even before the President’s directive, our facilities already lack the capacity; so we must prepare for it.]”

“Makipagtulungan tayo sa mga lokal na opisyal, kasama ang barangay, para malaman natin kung aling mga lugar sa bawat komunidad ang maaari nating gamiting detention facilities para sa mga sadyang pasaway, [Let’s work with local officials, including the barangay, to find out which areas in each community we can use detention facilities for intentional violators,]” he added.

DENR supports Duterte’s plan to ban single-use plastic–official

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ENR Undersecretary for Solid Waste Management and Local Government Units (LGUs) Concerns Benny D. Antiporda said the Department of Environment and Natural Resources (DENR) “will abide by the call of the President to ban unnecessary single-use plastics” despite of “some resistance from other government agencies.”

This as the DENR reiterated its call for the proper disposal of face masks and faces shields, which are mostly made of plastic, to avoid the risks of transmission and help prevent the spread of the dreaded Covid-19.

“Protection against Covid-19 goes beyond following the minimum health protocols and the use of face masks and face shields,” Environment Secretary Roy A. Cimatu was quoted in a statement as saying.

“Our responsibility extends to the disposal of these healthcare items, which are potentially contaminated.”

The DENR chief noted that disposable face masks and face shields have now affected terrestrial and aquatic animals because of improper disposal.

“We have seen that while face masks protect us, these have become the newest threat to animal life because of entanglement, and have added up to marine litter,” Cimatu said.

Antiporda emphasized the participation of households in the proper segregation of used face masks from other solid wastes.

“We never thought that these healthcare wastes will end up in our doorsteps. Before, these items are just found in operating rooms of hospitals. So, let’s put our used face masks in a separate container and properly label it as household healthcare waste, even specifically indicating it as face mask,” he said during his guesting in the radio program “Ang Tinig Klima” last week.

“Let’s do this so we won’t jeopardize the lives of garbage collectors and whoever takes out trashes at home. If we will not practice this, and masks contaminate other solid wastes, these people will have the risk of getting infected by the virus and consequently infecting our own households in the end,” he added. Jonathan L. Mayuga

Eleazar also noted the protocol in detention areas.

“Mababalewala ang paghuli sa kanila kung walang social distancing sa ating mga detention areas, [Arresting them would be for naught if social distancing in our detention areas is not observed.]”

He reminded police officials of the order of Interior and Local Government Secretary Eduardo Año that persons arrested for violation of minimum public health safety standards can only be held for a maximum of 12 hours unless charges are filed against them.

Eleazar reminded police officers to observe maximum tolerance in arresting violators and warned them against abusive behavior.

During the command conference with senior police officials, including heads of police regional offices and national support and service units, Eleazar also issued his guidance on his administration’s direction on peace and order.

The new police chief also directed all units to strictly implement the intensified cleanliness policy, which ensures continuity of reforms in the organization and the bridging of gaps for closer ties with the community.

Eleazar also shared and exchanged ideas with the police commanders nationwide on how they could further strengthen the campaign against street crimes, illegal drugs, insurgency and terrorism. Rene Acosta

Editor: Vittorio V. Vitug • Monday, May 10, 2021 A3

Senators keen on addl funds for military’s patrol ‘muscle’

By Butch Fernandez @butchfBM

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EN. Aquilino Pimentel III on Sunday signaled Senate support for a heftier outlay for the Armed Forces modernization, particularly naval and air assets to better patrol the West Philippine Sea, in the next budget round starting July.

“Hopefully, the entire legislature will be able to support them,” Pimentel III said in a radio interview. The lawmaker was referring to pending requests for the defense and security cluster to be able to acquire more and better boats and planes to guard the Philippine coastline, especially in the country’s 200-nautical mile Exclusive Economic Zone (EEZ), which China’s maritime militia vessels have been intruding the past months.

“In the next [budget] round, we are conscious that this is a priority,” Pimentel III added, partly in Filipino, He called out those who in the past had quickly slapped down the AFP’s requests for support with the argument that the country has “other priorities.”

The Senator emphasized that political will should be mustered to give the Department of National De-

fense (DND) enough support so it can provide credible defense in asserting the Philippines’s sovereign rights as it comes under continuing challenge from China.

Pimentel III, who chairs the Senate Foreign Affairs Committee, said the Department of Foreign Affairs (DFA) is correct in saying that amid the brouhaha over President Duterte’s recent comments on the weight of the 2016 arbitral ruling favoring Manila, “what matters most is what the President said before the community of nations” at the UN General Assembly.

The President’s message had three key points, as reiterated time and again by DFA: “we are in possession of a [favorable] ruling; we will not let go of this ruling; and, we will enforce this ruling.”

The administration Senator noted that the July 2016 ruling by the Permanent Court of Arbitration upheld the Philippines’s rights over its exclusive economic zone under the UN Convention on the Law of the Sea and shot down China’s socalled “historic” claim over almost the entire South China Sea with its nine-dash-line invention.

The ruling “clarified the issue of

maritime features in the SCS and how the Unclos applies.” But, he said, the arbitral tribunal “has no sheriff” that it can direct to enforce the ruling and “there is no motion for execution at the international level.”

It is up to the Philippines, Pimentel added, to preserve its rights as cemented by the ruling, by a menu of options, including ramping up its naval and air patrols and collaborating with allies who have signified their intent to help keep the peace in this part of the world.

“So now, we see an increase in the assets for patrolling,” Pimentel noted, because the ruling puts the burden on enforcement on the Philippines: “dapat i-patrol mo ang EEZ mo [you should patrol or guard your EEZ].”

Besides, the Senator stressed, “[based on] international rules, dapat may respeto sa isa’t isa [there should be mutual respect] because we are equal sovereigns,” and the Philippines’s tack is along these lines.

The DFA, through Secretary Teodoro L. Locsin Jr. consistently files note verbales to protest China’s continuing presence within the Philippine EEZ while Defense Secretary Delfin N. Lorenzana keeps

SBMA puts up own community pantries

By Henry Empeño Correspondent

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UBIC BAY FREEPORT—The Subic Bay Metropolitan Authority (SBMA) announced it has launched its own mobile community pantries.

The SBMA said its employees have put up pantries at the Rizal Gate of the Subic Bay Freeport last April 29, Kalaklan Gate last April 30 and the Kalayaan Gate last May. The SBMA said these pantries offered vegetables, eggs, noodles, biscuits and meat that were initially sourced from employees and later on from some locators here.

Law Enforcement Department Officer in Charge Gerardo A. Johnson said more of these movable pantries will be set up in the future as more assistance from these locators continues to pour in.

The SBMA added that other employees also partnered with local organizations for a community pantry in remote communities in the Subic Bay Area.

Armina Belleza C. Llamas, head of the SBMA Public Relations Department, said this pantry was born out of the “earnest pleas and requests from marginalized communities around the Freeport” after the successful project launch at

@joveemarie

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ITING the impact to the country’s economy, the speaker of the House of Representatives is seeking a review of an 8-year-old policy that suspends maritime travel in areas placed under Public Storm Warning Signal (PSWS) Number 1, or 36 hours before a weather disturbance occurs.

Speaker Lord Allan Jay Q. Velasco issued the statement after an online meeting last week with officials of the Philippine Coast Guard (PCG), the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) and the Maritime Industry Authority (Marina).

Velasco said the policy via PCG Memorandum Circular 2-2013 proved counterproductive and det-

DOLE resumes operations for delayed OFW Hospital

By Samuel P. Medenilla @sam_medenilla

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AN old woman led people in waiting for the opening of a community pantry set up at the Kalayaan Gate in the Subic Bay Freeport last May 7.

PHOTO COURTESY SUBIC BAY METROPOLITAN AUTHORITY

the Subic Bay Freeport Main Gate last April 22.

Last April 28, the mobile pantry reached the foothills of Barangay New Cabalan in Olongapo City to provide bags of foodstuffs to members of the Ambala Ayta tribe, ac-

cording to Llamas.

The second one last May 6 brought the volunteers to the shores of Barangay Cawag at the Redondo Peninsula in Subic, Zamba les to deliver donated foodstuff to 130 Amianan Ayta

families, she said.

“In these days of the pandemic, we need to look out for each other in order to survive,” SBMA Chairman Wilma T. Eisma said. “We can only rise as a community when we lift others up.”

House Speaker seeks review of storm warning signal rules

By Jovee Marie N. Dela Cruz

telling China to pull out its maritime militia boats while ordering continued patrols.

Last week, the Coast Guard confronted Chinese vessels off Palawan and told them to leave.

The chief of the Senate foreign relations committee said this approach by the government—with two of the President’s alter egos, Locsin and Lorenzana, leading the moves—should suffice for now. And this is why he weighed in last week against persistent calls by the President’s critics to have him engage former Supreme Court Senior Associate Justice Antonio Carpio in a debate, Pimentel added.

He emphasized that the focus of everyone is on asserting at all times the Philippines’s prerogatives as established in the arbitral ruling. Pimentel noted that within its EEZ, other countries may pass but are barred from economic activity or any measure “they may profit from in our water column and continental shelf.”

This includes, he said by way of example,” fishing in our water column and drilling for oil, gas or precious metals in our continental shelf” without Philippine consent.

rimental to the country’s shipping and maritime industry as well as the general public.

The PCG MC prescribes the “Guidelines on Movement of Vessels During Heavy Weather,” effectively prohibiting any type of boat, ship or sea vessel from operating and sailing in the point of origin, the intended route and the point of destination once a PSWS 1 is hoisted.

“The PCG circular has resulted in stressful delays, unforeseen cancellations, decreased economic productivity and stalled shipping services,” Velasco said.

PSWS 1 is put in effect and announced by Pagasa when wind speeds ranging from 30 kilometers to 60 kilometers per hour is expected to take place in a given locality within a lead time of 36 hours, although the corresponding weather conditions

may not yet be prevailing over that particular area.

The 36-hour lead time was originally intended for inland storm preparations involving residences, farms and land trips, among others.

The lawmaker said he wants the existing guidelines on sea travel during typhoons reviewed and replaced by a “maritime legal policy that is adoptive, forward thinking and conducive to economic stability.”

The Speaker said the current 36hour lead time for PSWS 1, during which no vessel is allowed to travel, is “quite long” and leads to serious port congestion and derailment of economic activities.

“We need to find a way to be able to adjust how we determine storm warning signals and protocols in allowing vessels to travel by sea without sacrificing the safety of pas-

sengers and seafarers,” Velasco said.

The lawmaker added that the advanced gale warning advisories and other maritime-based forecasting technologies and mechanisms are now available. These, He said, must be considered and maximized in crafting adaptive and economically sustainable guidelines on sea travel, without sacrificing the safety and protection of those in the maritime industry.

Velasco said he asked officials of the PCG, Pagasa and Marina to look into the possibility of having a shorter lead time for storm signals and movement of vessels during bad weather conditions.

The House leader also described the 36-hour lead time as “inefficient” since it causes people and goods stranded in ports for days even if the weather is calm or there is still enough time for them to travel safely.

OVERNMENT has resumed work on the hospital intended for overseas Filipino workers (OFW) as the Department of Labor and Employment (DOLE) issued Administrative Order 89, series of 2021, forming two top-level committees for the project.

Labor and Employment Secretary Silvestre H. Bello III said one committee will handle hiring of medical personnel who will manage and operate the hospital.

Bello said the other committee will coordinate with the Department of Health to facilitate the bidding process and obtain appropriate budget for the maintenance and operation of the hospital.

The AO named Undersecretaries Renato L. Ebarle and Ana C. Dione to lead the committees.

Bello said they are targeting the “completion” of the OFW hospital before the end of the year. He told the BusinessMirror the hospital could be inaugurated by November or December this year.

He considers the hospital “among the legacies of the Duterte administration in recognition of the valuable contribution of our modern-day heroes in the growth of our economy.”

The project should have been completed this month, as the DOLE said in a statement last year. The DOLE blamed Covid-19 for the delay.

The construction of the P500million OFW hospital started last year after DOLE finalized its agreement with the Provincial Government of Pampanga, which donated the land for the said facility.

Bloomberry Cultural Foundation donated P400 million for the said project; the remaining P150 million came from the Philippine Amusement and Gaming Corp. (Pagcor).

Agriculture/Commodities BusinessMirror

A4 Monday, May 10, 2021 • Editor: Jennifer A. Ng

www.businessmirror.com.ph

Sugar output hits 1.849MMT in April–SRA

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By Jasper Emmanuel Y. Arcalas

@jearcalas

HE country’s sugar production as of end-April inched up to 1.849 million metric tons (MMT) from 1.826 MMT recorded a year ago, latest Sugar Regulatory Administration (SRA) data showed.

SRA data as of April 25 showed that domestic output grew by 1.25 percent year-on-year as total sugarcane tonnage outpaced the decline

in year-to-date sugar yield.

Data from the agency also indicated that total sugarcane milled rose by 9.1 percent to 21.819 MMT from

19.999 MMT recorded last year.

Sugar yield as of April 25 averaged at 1.72 50-kilogram bags per metric ton of sugarcane milled (LKg/TC), which was 7.03 percent lower than the 1.85 LKg/TC recorded in the same period of last year, based on latest SRA data.

The average mill-site price of sugar as of April 25 rose by 17.8 percent to P1,669.19 per LKg from P1,417.01 per LKg last year, SRA data showed.

SRA data also showed that the average wholesale price of raw sugar grew by 2.94 percent to P1,750 per LKg from last year’s P1,700 per LKg. However, the wholesale price of refined sugar fell slightly to P2,250 per LKg

from last year’s P2,270 per LKg. Despite the mixed trend in wholesale prices, the retail prices of both raw and refined sugar remained stable at P45 per kg and P50 per kg, respectively, according to SRA. In March, the Philippines decided to allocate its remaining raw sugar output in crop year 2020-2021 for domestic consumption to ensure ample stockpile and avert a possible increase in prices as output may be lower than expected.

The SRA issued Sugar Order (SO) 1-A which authorized the scrapping of the 7 percent “A” allocation or sugar to be exported to the United States as mandated by SO 1 issued in September 2020.

Canadian, Belgian pork exporters upbeat on PHL market this year

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ORK exporters from Canada and Belgium are optimistic about increasing their shipments to the Philippines after Manila lowered tariff rates for imports and announced its plan to increase the minimum access volume (MAV) for pork.

Gary Stordy, Director of Government and Corporate Affairs of the Canadian Pork Council, told the BusinessMirror that Canada’s pork exports to the Philippines in January and February increased by more than fivefold.

Stordy said Canada exported about 27,000 metric tons (MT) of pork products to the Philippines during the two-month period, which was 485 percent higher than the 4,600 MT recorded a year ago.

He said the increase in exports was attributed to the availability of supply from Canada coupled by higher demand from the Philippines.

“Canada has products available if there is demand for it,” Stordy told the BusinessMirror in a recent interview.

Stordy said Canadian producers have been monitoring the pork supply situation in the Philippines since the country is their seventh top destination for pork products.

He also noted that high domestic pork prices do not always present an “opportunity” for exporters since there is a tendency among local consumers to shift to cheaper alternative protein sources.

“That is an equilibrium. If prices are too high in the domestic market, while it may appear as an incredible business opportunity, the individual consumer may diversify to choose alternative protein,” Stordy said.

“Right now we saw some increase in volume [in exports because] there’s a demand. Canada and other countries are just filling in some of the gaps [in domestic supply].”

Stordy said consumers ultimately benefit from a reduction in pork tariff rates, which the Philippines has recently undertaken, since it cuts the cost of imported products.

Bureau of Animal Industry (BAI) data showed that Canada is the country’s second top source of pork products, accounting for an average

EMPLOYEES butcher pork at a Smithfield Foods Inc. pork processing facility in Milan, Missouri on April 12, 2017.

DANIEL ACKER/BLOOMBERG

of 45,000 metric tons (MT) of imports. BAI data also indicated that Canada is the second biggest supplier of prime cuts of pork (bellies and pork cuts) to the Philippines.

Shipments of Canadian pork in the first quarter reached 26,047.031 MT, or half of what the country bought from Canada for the whole of 2020.

key to convince our trading partners that that’s exactly what we can offer.”

BA I d ata showed t hat t he country’s pork imports from Belgium in the first quarter reached 5,575.27 MT, of which 1,756.52 MT were prime cuts (bellies and pork cuts).

Agriculture Secretary William D. Dar said President Duterte may issue the new executive order (EO) implementing the compromised tariff rates on pork imports this week.

The DA disclosed last Wednesday that the tariff rates on pork imports would be increased by 5 percentage points. It also lowered the proposed MAV of 404,000 MT to just 254,210 MT. With the compromise, the inquota tariff rate for pork imports until July 7 would be 10 percent while out-quota would be 20 percent from the initial rates of 5 percent and 15 percent, respectively.

Tariff rates on pork from July 8 to April 7, 2022 under EO 128 would be raised to 15 percent for in-quota and 25 percent for out-quota imports.

Jasper Emmanuel Y. Arcalas

Belgian pork

THE Belgian Meat Office (BMO) told the BusinessMirror that Belgian pork imports to the Philippines would recover this year. Belgium was unable to ship pork to the Philippines for two years due to problems created

by African swine fever (ASF).

The Philippines imposed a temporary import ban on Belgian pork in October 2018 due to an outbreak of ASF. The ban was lifted last year.

BMO disclosed that it has “a serious number of contracts” with Philippine meat importers.

“Given the import demand, I think this year will make us forget quickly the fact that we’ve been out for two years. Already a serious number of

contracts were signed and products are on sea or have already arrived,” BMO said in an e-mail interview.

BMO said the Philippines used to be Belgium’s second top destination for its pork products outside the European Union.

“Since the end of October last year, the ban on Belgian pork was lifted. We never really lost connection with our partners, we kept contact and trade resumed swiftly,” BMO said.

“The Philippine market is in need of protein; ASF has had devastating consequences in the Philippines and in other countries in the region. But our goal hasn’t really changed. Strong and lasting trade relations, allowing us to supply high quality products to people sharing a passion for pork.”

BMO noted that the reduction in pork tariffs by the Philippines “makes sense” given its domestic market conditions.

“Soaring retail prices, as they did, are destroying consumer confidence.

Imported pork should therefore meet high quality standards. For us, it is

auto parts such as wiring harness as examples but the situations are also applicable to other manufacturing and non-manufacturing projects,” Rodolfo said.

Rodolfo stressed the timing is right to invest in the Philippines. He said the Manufacturing Purchasing Managers’ Index (PMI) and inflation showed signs of the economy recovering.

He shared the Central Bank’s latest report on the 41.5-percent increase in foreign direct investments (FDIs) into the country in January 2021, compared with the same month of last year.

“Our Philippine economic diplomacy is grounded on the pursuit of sustainable economic development through globally-oriented, open, and inclusive economic policies for stakeholders,” Chargé d’ Affaires Christian De Jesus of the Philippine Embassy in South Korea said.

“With the incentives tied to CREATE law, we can

continued from a1

encourage more Korean companies in these manufacturingsectorstoseriouslyconsiderthePhilippines as their investment destination,” he added.

Despite the pandemic, Rodolfo said, the BOI posted its second-highest level of project approvals in history with a total approved investments of $20.55 billion or P1.02 trillion.

In the January to March period this year, he said, BOI project approvals surged by 66 percent compared to the same period in 2020.

Rodolfo said the Philippines now also has access to key markets through bilateral and regional Free Trade Agreements (FTAs)—for instance, with Japan through the Jpepa and the members of the Efta; and with Asean.

The Asean also has an FTA with Australia and New Zealand, China, India, and South Korea; and Generalized System of Preferences of Canada, the EU, the UK and Russia.

start of the crop year.

“The drop in LKg/TC eclipses the increase in sugarcane tonnage this crop year, which is higher by 8 percent [as of March 7] from tonnage for the same week-ending last crop year,” it said.

“As a consequence of the drop in LKg/TC, SRA in its Final Crop Estimate for calendar year [CY] 2020-2021 revised sugar production for the crop year to 2.101 million metric tons, from 2.19 million metric tons,” it added.

The SRA said it has “informed stakeholders about the drop in estimated production for the crop year, who in turn have given their recommendations on how to address the situation.”

State of calamity declaration to protect ASF-free areas—solon

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BOI prods Korean EV makers to bet on PHL He also said that if firms like Hyundai decide to assemble the Hyundai Ioniq in the Philippines; or THN Autoparts or Bolim decides to add another wiring harness facility dedicated to EV, they will enjoy the same incentives as semiconductor firms.

The BOI Managing Head added that after the ITH period, purchases by Hyundai of Wiring Harness from THN or Bolim will be allowed an additional 50-percent deduction from taxable income.

Firms like Hyundai can also enjoy 100-percent additional deduction for training the workers in their factory, Rodolfo also said.

The benefits do not start and end with EV and semiconductor firms. Rodolfo said Korean companies that invest in food manufacturing and sell primarily to the domestic market can also enjoy incentives, as CREATE treats local and foreign companies alike.

“I just used semiconductors and automotive/

Based on SO 1-A, all remaining sugar production covering “production of week ending April 4” until the end of the crop year 2020-2021, which is on August 31, shall be allocated as “B” or for the domestic sugar market.

The SRA board explained that the reallocation was driven by the lower sugar content of canes milled in the current crop year due to “severe” La Niña affecting the majority of sugarcane fields.

The SRA board said the decline in sugar recovery milling rate, which has dropped to an average of 1.71 50-kilogram bag per ton cane (LKg/ TC), is “substantially lower” than the 1.87 LKg/TC estimated before the

HE declaration of a State of Calamity due to African swine fever (ASF) will not only free up badly needed funds in order for local hog raisers to address the spread of the “Covid of pigs,” but will also help the industry recover.

Senator Francis N. Pangilinan said on Sunday that the declaration will protect ASF-unaffected areas and free interest rates on hog raisers’ loans. Pangilinan, who has raised in a Senate Resolution the effects of ASF and massive pork importation, and urged the declaration of a State of Calamity, also said that such an executive declaration may be in the works.

“Ang balita ko ay pino-proseso na raw ’yung State of National Calamity declaration,” he said in a media interview.

When asked about changes in Executive Order 128 that lowers the tariffs and increases the minimum access volume (MAV) allowed by the World Trade Organization, Pangilinan said: “Ang susunod na kinakailangang gawin ay tiyakin at bantayan yung pagimplementa at nang hindi abusuhin, nang hindi ito mauwi sa hindi rin bababa ang presyo ng karneng baboy. Ito naman ’yung layunin dito na bumaba ang presyo ng baboy sa merkado, magkaroon ng sapat na suplay.”

Pangilinan, who believes that agriculture is a sustainable driver of economic growth, also supports proposals to review the MAV system on other food imports such as fruits, fish, and other agricultural products.

“Chances are, lahat ’yan across the board din ang mahiwagang mga pangyayari, ‘ ika nga, na dapat bantayan.”

Hog raisers’ lament

WITH the threat of ASF knocking at their doorstep, hog raisers from Visayas and Mindanao expressed support for Pangilinan’s call for a declaration

of State of Calamity due to ASF in an online dialogue held Thursday.

“Ang sa atin sana ay ang specific need namin dito ay madagdagan dapat ang gawin ng gobyerno para ma-proteksyunan ’yung mga areas na hindi pa tinatamaan. Kung tatamaan talaga tayo, babahain tayo [ng imported]. Mawawala talaga ang industry,” said Nonon Tambago, chairman of the Central Visayas Pork Producers.

The group also expressed concerns about pork landing in their areas, which are almost ASFfree and are therefore sufficient in terms of supply.

Pangilinan said he would demand from DA “strict monitoring” of the imports through a resolution to create a sub-committee within the department that would submit monthly reports on the status of the importations, as well as the status of their implementation of the campaign against ASF. “Ang i-introduce ko rin sa resumption ng hearing ng Senado ay kung papaano natin babantayan ang importation nung karne para hindi ito aabusuhin, hindi ito gagawing kasangkapan para may kumita o macartelize, at mababantayan natin,” he said.

Last month, Agriculture Secretary William D. Dar assured members of the House of Representatives the arrival of the pork imports will be closely “calibrated” to avoid upending the market and hurting local producers.

During a joint hearing of House Committee on Agriculture and Food and House Committee on Trade and Industry, Dar reiterated that EO 128 would not “kill” the Philippine hog industry.

“Our ultimate goal is really the imports will lower the prices of pork and tame inflation.

We would like to assure that calibrated arrival of said imports will be properly managed,” he said. Butch Fernandez

Solons warn DOH: Hold ₧1-B purchase of remdesivir continued from a10

The WHO said in its Therapeutics and Covid-19 Living Guideline, “we recommend against administering remdesivir in addition to standard care. There isn’t enough evidence to support to use of remdesivir in hospitalized Covid-19 patients, regardless of disease severity.”

The DOH earlier said that its Disease Prevention and Control Bureau has earmarked another P1 billion to procure additional stocks of remdesivir that were already running low.

“Remdesivir is currently being used as an additional medication for Covid-19 patients,” the DOH said in a press statement posted on its web site.

“Other wealthy nations can throw

their money away on remdesivir if they want to, but in our case, we simply can’t afford to,” Atienza said.

Ivermectin advocate

DEFENSOR, an advocate for the use of Ivermectin, said all new purchases of remdesivir are “reckless and foolish” spending in light of the WHO recommendation.

“All further purchases of remdesivir—after the WHO came out with its adverse recommendation—may be deemed as transactions highly detrimental to the government under the Anti-Graft and Corrupt Practices Act,” Defensor said.

Under the law, the lawmaker said

DOH officials may be held liable for a corrupt act if they perform a transaction that is “grossly disadvantageous” to the government.

“The potential liability is there, regardless whether the officials involved profited or not from the procurement,” Defensor said.

The offense is punishable with up to 10 years in prison and perpetual disqualification from public office, according to Defensor.

“We would urge the Department of Budget and Management to repurpose the money meant for remdesivir, preferably to acquire more Covid-19 vaccines,” Defensor said.

Jovee Marie N. Dela Cruz

www.businessmirror.com.ph

BusinessMirror

Monday, May 10, 2021 A5

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The World BusinessMirror

Monday, May 10, 2021

Editor: Angel R. Calso

India reports over 4,000 deaths; South Africa finds India variant

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ndia reported more than 4,000 Covid-19 deaths for a second day, as the nation battled the world’s worst outbreak of the virus. The country on Sunday recorded 4,092 fatalities and found 403,736 new cases, with the capital New Delhi and other big cities continuing to report surging infections.

The country’s top court set up a panel of doctors and public heath experts to find ways to remove production bottlenecks for oxygen supplies that are running short at hospitals across the country.

In South Africa, a variant of the coronavirus that was first detected in India has been found in four people. Two cases of the B1.617.2 variant were identified in patients in the central Gauteng province and another two in the eastern KwaZulu-Natal province, and all of them were isolated to prevent its spread, the health department said in a statement on Saturday.

South Africa has confirmed 1.59 million Covid-19 cases so far, more than any other African nation, and 54,724 of those diagnosed with the disease have died.

Key developments: Thailand’s death toll nears 400

Thailand’s death toll from coronavirus pandemic neared 400 on

Sunday, with 17 more people succumbing to the disease in the past 24 hours.

Most of the country’s Covid-19 deaths have occurred since early April, when a third wave of infections hit. Total cases in the Southeast Asian nation have jumped to about 83,400 from fewer than 7,000 at the end of 2020, government data shows.

Singapore to test thousands

Singapore will test thousands of people for Covid-19 as infections that couldn’t be traced back to known clusters continued to pop up.

Testing will be expanded to all workers at two Changi Airport terminals and a connected shopping mall after three employees came up positive in recent days, the health ministry said. At a junior college where a student also tested positive, about 2,200 people will undergo swab tests by Monday, while just over 100 close contacts will be

quarantined.

Singapore put tighter socialdistancing measures into place on Saturday after finding 10 new unlinked cases in the community in each of the past two weeks.

of the American society have been vaccinated we will come to a free exchange of components and opening of the market for vaccines,” Merkel told reporters after the meeting.

Sydney extends Covid measures

Weekly cases in Brazil ticked up again but remain well below a peak from mid-March, health ministry data showed. The country reported 63,430 new cases on Saturday, at the end of a week in which 419,904 new infections were recorded. That compares with a peak of almost 540,000 six weeks ago. Total infections are 15.1 million.

Deaths fell for the fourth consecutive week, to 14,879. Another 2,202 fatalities were reported on Saturday, for a total of 421,316, the most after the US.

Restrictions on gatherings are being extended for another week in the Sydney area after Australian health officials said they were unable to identify how a man in the community caught Covid-19.

The measures, which include limits on home gatherings to 20 people and a ban on singing and dancing in indoor venues except for weddings, will run through May 17. Masks will be required on public transport and at theaters, hospitals and nursing homes, although shoppers will no longer be required to wear them at stores, the state government said.

EU tells Biden to export vaccines now

European Union leaders urged US President Joe Biden to lift restrictions on exports of Covid-19 vaccines to address the desperate needs of developing countries before embarking on complex discussions about patent waivers.

At a summit in Porto, Portugal on Friday and Saturday shortly after the US suggested suspending intellectual property rights to boost the supply of Covid shots, German’s Angela Merkel, France’s Emmanuel Macron and Italy’s Mario Draghi appealed to the US to follow the EU example and start shipping significant numbers of vaccines.

“I hope that now that large parts

Brazil’s weekly cases rise

US vaccination pace slows

The US recorded 2.57 million vaccinations administered on Saturday, as the seven-day average slipped below 2 million for the first time since early March. Daily vaccinations fell from the previous day, with the general demand for vaccinations dropping sharply since a peak in mid-April, according to data from the Bloomberg Vaccine Tracker.

States around the US are requesting fewer doses than allocated to them, and the Biden administration has said it will reallocate doses to places that can use them.

Meantime, the focus of vaccinations is shifting from mass sites to smaller places like pharmacies, mobile clinics and doctors’ offices.

A total of 257 million doses have been administered.

US cases continue to slow

The US recorded 47,082 new cases on Friday, as daily infections fall or are roughly even in most states and territories, according to data from Johns Hopkins University and Bloomberg. The week is on track to be the first since mid-September in which daily cases have not exceeded 50,000.

Another 832 deaths were reported. The decline in fatalities following the holiday surge has flattened out, the data show.

UK expert optimistic on Covid’s end

One of the UK’s top vaccine experts said Covid-19 will no longer be circulating in Britain by August.

“Sometime in August, we will have no circulating virus in the U.K.,” Clive Dix, departing head of the country’s vaccine task force, told the Daily Telegraph in an interview.

The UK remains on track to meet its target of giving all adults at least one Covid-19 shot by the end of July, which should give adequate protection against all known variants of the disease, he added.

The widespread vaccination should even allow the country to delay the booster program beyond autumn to January or February next year, Dix said.

EU secures 1.8 billion doses

The EU approved a contract with Pfizer Inc. and BioNTech SE for 900 million vaccine doses guaranteed with the option of 900 million more through 2023.

In a tweet, European Commis-

sion President Ursula von der Leyen said “other contracts and other vaccine technologies will follow.”

In other comments, the Commission president said she’s open to discussing Joe Biden’s proposal to waive vaccine patents, but the US needs to dramatically ramp up the shots it’s exporting.

Hopes rise in Germany for easing

Germany recorded 15,090 new cases on Saturday, continuing a recent trend of slowly declining numbers. The country remains in a partial lockdown as officials grapple with a third wave of the virus, but accelerating vaccinations and fewer infections are increasing hopes that the authorities can ease some restrictions.

UK travel means lines, tests

The UK government’s decision to loosen border rules frees Britons to feed their pent-up appetite for leisure travel. But getting to a sun spot and back this summer will be neither easy nor particularly cheap.

The new policy that takes effect on May 17 lists just a handful of destinations—including Portugal, Israel and Singapore—as green in the so-called traffic-light system. For now, Greece and Spain are excluded, and most of the dozen deemed safe aren’t yet accepting visitors.

While passengers returning from green-lit places won’t be asked to quarantine, they’ll be subject to expensive Covid-19 tests that airlines warn could put the cost of a summer vacation out of reach for many UK families on a budget.

Bloomberg News

50 killed, 100 wounded Myanmar military junta labels ousted lawmakers ‘terrorists’ in Kabul school bombing

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A N G K O K— M y a n m a r ’s junta has labeled a shadow government of lawmakers and politicians ousted in a February coup and a people's defense force that is being set up to confront security forces as terrorist groups.

The government of national unity was established by elected legislators who were barred from taking their seats when the military seized power and detained civilian leader Aung San Suu Kyi and others.

Afghan men try to identify the dead bodies at a hospital after a bomb explosion near a school west of Kabul, Afghanistan on Saturday, May 8, 2021. A bomb exploded near a school in west Kabul on Saturday, killing several people, many them young students, an Afghan government spokesman said. AP Photo/Rahmat Gul

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ABUL, Afghanistan—The death toll in a horrific bombing at a girls' school in the Afghan capital has soared to 50, many of them pupils between 11 and 15 years old, the Interior Ministry said Sunday.

The number of wounded in Saturday’s attack has also climbed to more than 100, said Interior Ministry spokesman Tariq Arian.

Three explosions outside the school entrance struck as students were leaving for the day, he said. The blasts occurred in a mostly Shiite neighborhood in the west of the capital.

The Taliban denied responsibility, condemning the attack.

The first explosion came from a vehicle packed with explosives, followed by two others, said Arian, adding that the casualty figures could still rise.

In the capital rattled by relentless bombings, Saturday’s attack was among the worst.

Criticism has mounted over lack of security and growing fears of even more violence as the US and NATO complete their final military withdrawal from Afghanistan.

The attack targeted Afghanistan’s ethnic Hazaras who dominate the western Dasht-eBarchi neighborhood, where the bombings occurred. Most Hazaras are Shiite Muslims.

The area has been hit by violence against minority Shiites and most often claimed by the Islamic State affiliate operating in the country. No one has yet claimed Saturday's bombings.

The radical Sunni Muslim group has declared war on Afghanistan's Shiites. Washington blamed IS for a vicious attack last year

in a maternity hospital in the same area that killed pregnant women and newborn babies.

Soon after the bombing, angry crowds attacked ambulances and even beat health workers as they tried to evacuate the wounded, Health Ministry spokesman Ghulam Dastigar Nazari said. He had implored residents to cooperate and allow ambulances free access to the site.

Bloodied backpacks and books lay strewn outside the Syed Al-Shahda school. In the morning, boys attend classes in the sprawling school compound and in the afternoon, it's girls' turn.

Residents in the area said the explosion was deafening. Naser Rahimi told The Associated Press he heard three separate explosions, and immediately thought that the sheer power of the blasts meant the death toll would almost certainly climb.

One of the students fleeing the school recalled the attack, the screams of the girls, the blood.

“I was with my classmate, we were leaving the school, when suddenly an explosion happened,” said 15-year-old Zahra, whose arm had been broken by a piece of shrapnel.

“Ten minutes later there was another explosion and just a couple of minutes later another explosion,” she said. “Everyone was yelling and there was blood everywhere, and I couldn't see anything clearly.” Her friend died.

Outside the Muhammad Ali Jinnah Hospital, in the Dasht-e-Barchi neighborhood dozens of people lined up to donate blood, while family members checked casualty posted lists on the walls. AP

The junta has previously accused them of treason, and the announcement on state TV Saturday said they were being branded terrorists because of their participation in a civil disobedience movement—a popular revolt against the military takeover that has seen people taking to the streets daily despite the lethal use of force by authorities.

More than 700 protesters and bystanders have been killed by security forces since the Feb. 1 coup, according to several detailed

estimates. The junta has said the death toll is about one-third of that, and that the use of lethal force was justified to end what it called rioting.

Last week, the shadow government announced the formation of “People’s Defense Force,” which would serve as a precursor to a “Federal Union Army” of democratic forces including ethnic minorities.

The National Unity Government has the backing of several major ethnic minority groups

who for decades have been seeking greater autonomy and who maintain their ow n guerrilla forces. The two most important are the Kachin in the north and the Karen in the east, both of which are actively engaged in combat with the government's military forces.

Since the coup and crackdown on opponents, students and factory workers have fled to territory controlled by the ethnic guerrilla forces to take military training.

AP

EU: US stand on Covid vaccine EU, India try again to clinch patent waiver no ‘magic bullet’ trade deal, sidelining China

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ORTO, Portugal—European Union leaders cranked up their criticism of the US call to waive Covid-19 vaccine patents Saturday, arguing the move would yield no short-term or intermediate improvement in vaccine supplies and could even have a negative impact.

On the second day of an EU summit in Portugal, the European leaders instead urged Washington to lift export restrictions if it wants to have a global impact on the pandemic.

“We don’t think, in the short term, that it's the magic bullet,” European Council President Charles Michel said. French President Emmanuel Macron insisted that giving any priority now to a discussion of intellectual property rights “is a false debate.”

Chancellor Angela Merkel of Germany, home to many Big Pharma companies, went the farthest of all, cautioning that relaxing patent rules could harm efforts to adapt vaccines as the coronavirus mutates.

“I see more risks than opportunities,” Merkel said. “I don’t believe that releasing patents is the solution to provide vaccines for more people.” Instead, the leaders joined previous EU calls for US President Joe Biden to start boosting US vaccine exports as a way to contain the global Covid-19 crisis, insisting that move was the most urgent need.

“I’m very clearly urging the US to put an end to the ban on exports of vaccines and on components of vaccines that are preventing them being produced,” Macron said.

He mentioned the German company CureVac, saying it could not produce a vaccine

in Europe because the necessary components were blocked in the United States. Hundreds of components can go into a vaccine.

Merkel said she hoped that “now that large parts of the American population have been vaccinated, there will be a free exchange of (vaccine) ingredients.”

“Europe has always exported a large part of its European (vaccine) production to the world, and that should become the rule,” the longtime German leader said.

While the US has kept a tight lid on exports of American-made vaccines so it can inoculate its own population first, the EU has become the world’s leading provider, allowing about as many doses to go outside the 27-nation bloc as are kept for its 446 million inhabitants.

The EU has distributed about 200 million doses within the bloc while about the same amount has been exported abroad to almost 90 countries. Former EU member Britain has acted similarly to the US. “First of all, you must open up,” Macron said in addressing the United States. “First of all, the Anglo-Saxons must stop their bans on exports.”

The EU is trying to regain the diplomatic initiative on vaccines after Biden put it on the back foot with his surprising endorsement of lifting patent protections on Covid-19 vaccines, seeking to solve the problem of getting shots into the arms of people in poorer countries.

Macron and other EU leaders have insisted that production capacity first must be ramped up by reconverting factories so they can quickly start producing vaccines through a transfer of technology. AP

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ORTO, Portugal—The European Union and India agreed on Saturday to restart negotiations on a bilateral free trade deal, eight years after their first attempt failed and as both sides seek alternatives to China.

Indian Prime Minister Narendra Modi spoke via videoconference to EU leaders attending a summit in Portugal. The two sides announced what they called “a pivotal moment” in their relations by agreeing to resume talks they gave up on in 2013 and to collaborate on a wide range of other issues.

Speaking at a press conference after the closed-door talks, senior EU officials were thrilled by the prospect of closer ties with India.

European Commission President Ursula von der Leyen called it “outstanding” and “a landmark moment." European Council President Charles Michel said Saturday’s agreement marked “a new, important chapter” in bilateral relations.

Modi was scheduled to be at the online press conference after the meeting but didn't appear.

Plans for a face-to-face EU-India summit in Porto, in northern Portugal, fell through after Modi canceled his trip due to the devastating pandemic surge in his country. His remote appearance was the first time an Indian leader participated in a meeting with all of the EU's leaders. Von der Leyen said 17 EU countries have provided more than 100 million euros ($122 million) worth of pandemic aid to India, including oxygen generators, medicines and ventilators, and were ready to send more.

While trade talks proceed, parallel negotiations will be held on investment protection and

European Commission President Ursula von der Leyen speaks during a media conference at an EU summit in Porto, Portugal on Saturday, May 8, 2021.

On Saturday, EU leaders held an online summit with India's Prime Minister Narendra Modi, covering trade, climate change and help with India's Covid-19 surge. AP Photo/Luis Vieira

geographic indicators—a key interest for the EU, which places importance on protecting its distinctive products—in order to speed up the process, von der Leyen said.

The two sides said in a six-page joint statement that they also agreed to cooperate more in areas such as supercomputing for pandemic and climate change modeling, artificial intelligence and digital and transport connectivity.

Warm relations with India have an added attraction for the EU, which is eager to expand its influence in the Indo-Pacific region.

The EU’s ties with China have soured over Beijing’s treatment of its Uighur Muslim minority, leading to the suspension of the bloc’s ratification of a bilateral investment agreement. AP

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Opinion BusinessMirror

Monday, May 10, 2021 • Editor: Angel R. Calso

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editorial

Lockdowns are not the answer

T

here’s a man who has great responsibility for the primary global response to the Covid-19 pandemic. His name is Neil Ferguson.

British epidemiologist and professor of mathematical biology, Dr. Ferguson has an impressive resume.

He is a Fellow of the Academy of Medical Sciences and was awarded the Order of the British Empire. His specialty is the patterns of spread of infectious disease in humans and animals.

We quoted Dr. Ferguson in our editorial of January 24, 2020, China’s Health Problem Is Our Problem. “Professor Neil Ferguson, an epidemiology expert at Imperial College London [ICL], said the new strain is currently “as deadly as the Spanish flu epidemic”. As head of the Imperial College Covid-19 Response Team, his team’s publication in mid-March 2020 projected that the UK could face hundreds of thousands of deaths from Covid-19 without strict social distancing. He calculated that with ‘strict social distancing, testing and isolation of infected cases,’ deaths in the UK could fall to less than 20,000.” The current UK death toll is 127,603.

In 2005, Neil Ferguson said that bird flu could kill as many as 200 million people worldwide. Between 2003 and 2014, the actual global death toll was 455. Ferguson and his group have been involved in modeling the impact of infectious disease outbreaks and work, as is reasonable, on a “worst-case scenario.” Further, the recommendations are always framed by “if we don’t do this.” In most instances, particularly for localized epidemics, the recommended strategies are “lockdowns” and isolation to contain the outbreaks.

In early May 2020, Ferguson resigned from his role as Covid advisor to the UK government. During the last week of March 2020, his married girlfriend visited his home on at least two occasions, violating the UK quarantine protocols.

The ICL creates models based on the best information possible and then makes conclusions, which is not an easy business. The governments of the US and UK explicitly credited Ferguson’s forecasts on March 16, 2020 with the decision ordering their populations to stay home. Ferguson boasted of his team’s role in these decisions in a December 2020 interview.

But how accurate were the models?

In Taiwan, which closed borders but never locked down, the death count is 12. ICL predicted 179,000 deaths in Taiwan. The ICL model for the Philippines assuming “contact reduction [lockdown or ECQ] maintained until vaccine” was 174,749. With nationwide “Social Distancing” the Philippines would have 229,877, and with no measures, 368,084 would die.

As early as the first week of March 2020, we knew exactly what to do: stop “super-spreader” situations. “The number of coronavirus cases in South Korea has soared to about 602, according to The New York Times. More than half of those cases involve members of, or those somehow linked to, the religious sect, the Shincheonji Church of Jesus, where a so-called superspreader infected at least 37 people last week.”

It was not going to a shopping mall that counted. It was being packed closely together with dozens, sometimes millions of people. Deutsche Welle: “One event, the Kumbh Mela [early April] religious festival in the northern city of Haridwar, has already attracted nearly 5 million largely non-mask wearing Hindu pilgrims to the banks of the holy Ganges River this week.”

Nepal reported 9,070 new confirmed cases last Thursday, compared with 298 a month ago. Some 50,000 Nepalese attended the Kumbh Mela.

If you look at the ICL statements, they were sane and reasonable one year ago. But we know more now and as such, the pandemic response should have changed. That’s the problem, not the models.

Remember the mothers in pain Atty. Jose Ferdinand M. Rojas II

RISING SUN

O

N Mother’s Day yesterday, people around the world celebrated the occasion with smiles on their faces. Many families got together, just like always, and presented flowers and gifts to the mothers in the family. The dining table overflowed with food in many affluent homes, and a simpler array of dishes for the modest households. The laughter and warm feelings were always there, of course.

But I can’t help but think about the mothers in pain, and those who spent the day without the beloved mothers in their families. The past months have been a struggle for almost everyone and for many, part of this struggle has to do with the loss of people close to them. While we celebrated this special day with joy and warm smiles, I hope we did not forget those who were not able to do the same.

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in pain, as well as families who are grieving because they have lost their mothers. Mother’s Day is a difficult occasion for some people.

If you know mothers who are going through a tough time now, it is not too late to write them a note, send a text or e-mail, or to even

call them. It may be a day late but it would perhaps help to say hello, ask how they are doing, and greet them on this occasion. If you know someone who lost their mother, you can do the same. It is a necessary gesture during this dark, oppressive times.

It’s a good time to remember the mothers who are not with us anymore and to say a prayer for their peaceful rest. Light a candle and sit in silent remembrance. We can offer prayers and good intentions for our Inang Bayan, for our Mother Earth—they, too, nurture and nourish us. And they, too, are in pain. What can we children do to help ease this pain?

We must not forget, last but not least, the mothers who are in our midst, loving us every moment and taking care of us in their special way.

Make each moment with them count by expressing our love and making sure they know that they are cherished—not just on Mother’s Day but as often as we can.

Here is a special greeting to all mothers: May you be blessed even as you bless your children. Happy Mother’s Day!

When the private sector moves for sustainable dev’t

Since 2005

BusinessMirror A broader look at today’s business

We have mothers who are sick, from Covid or some other disease.

We have mothers who are taking care of sick family members, and mothers who are struggling with money.

There are moms who lost their jobs, moms who lost their children. Let us not forget the mothers in abusive relationships, those in dysfunctional households, and those who are emotionally battered. In other words, let us also remember the mothers

We have mothers who are sick, from Covid or some other disease.

We have mothers who are taking care of sick family members, and mothers who are struggling with money. There are moms who lost their jobs, moms who lost their children. Let us not forget the mothers in abusive relationships, those in dysfunctional households, and those who are emotionally battered. In other words, let us also remember the mothers in pain, as well as families who are grieving because they have lost their mothers.

Mother’s Day is a difficult occasion for some people.

Thomas M. Orbos

STREET TALK

A

side from writing this weekly column, I am also currently an advisor for an international organization on low carbon transport. And part of the work that we do, in partnership with the Philippine government, is to push for sustainable mobility or a mobility that is efficient, equitable, and more importantly, less harmful to our environment; definitely an issue that has become more pronounced in these pandemic times. Suffice to say that the needed legislation to institutionalize clean and green transport is moving, including the standardization of electric vehicle (EV) ecosystem. But it is a slow process, notwithstanding the pandemic, with the House version still consolidating related proposed bills and the Senate version having just passed the committee level. This is understandable, as low carbon transport will need to overhaul a global transport model that has been ingrained in our economies.

And so it is good to hear of local private initiatives pushing not just for sustainable mobility but even more, for a sustainable economy.

An online event was held recently, attended by environmental advocates from civil society organizations (CSOs) calling for stronger partnerships with the private sector and government to address environment issues and climate change impact. Organizers of the event are people I know and respected in their fields—Dindo Manhit of the Stratbase Albert del Rosario Institute (ADRi) and Dr. CP David of the Philippine Business for Environmental Stewardship

(PBest), who I am working with on another venture. Also notable were the participants, and allow me to mention some of them: Ms. Yoly Crisanto of Globe Telecoms and Ms. June Cheryl Cabal-Revilla of the Metro Pacific Group; Ludwig Federigan of the Young Environmental Forum; Ms. Nazrin Castro of The Climate Reality Project Philippines, and Renato Redentor Constantino of the Institute for Climate and Sustainable Cities. Such a mix of CSOs, the youth, environmentalists and big business would guarantee that this issue would penetrate a broad sector of society.

The event presented a good un-

The truth, however, is that the private sector is moving in an environment wanting of government direction and incentives. Always being mentioned publicly as the call of the private sector are incentives and in some industries subsidies, especially in this situation we are in now.

But even more important for the private sector is giving them clarity, therefore the predictability of the roadmap that the government intends to take.

derstanding of the mindset of the private sector amid this global crisis. One is in the area of resilience and sustainability. Dr. CP would sum up the situation at hand: “During these highly unusual times, the role of businesses and even of CSOs are most needed.” Despite their collective setbacks, the private sector is driven to move forward but now with the basic difference of moving with global sustainability standards and frameworks. In terms of such self-imposed standards and its impact on their operations, this will definitely cost more, at least for now; but it will mean more, in the long run. It is not just about profit and not just seeing the economy back, but rather seeing a future where businesses as well as the overall society will thrive in a more sustainable manner. Aligned with the private businesses are CSOs as well as NGOs, which current schools of

thought now consider as even part of our public administration system.

These entities no doubt strengthen our political will to achieve social goals and serve as an alternative to weak or inadequate democratic institutions.

The truth, however, is that the private sector is moving in an environment wanting of government direction and incentives. Always being mentioned publicly as the call of the private sector are incentives and in some industries subsidies, especially in this situation we are in now. But even more important for the private sector is giving them clarity, therefore the predictability of the roadmap that the government intends to take.

And such clarity needs not be just on macro policies but governance in its simplest forms, such as the ease of doing business and reducing the so-called red tape. Give the private sector this room to move and the clarity of direction they need to take, and they will respond.

Governments with policies and regulatory authority will always have that continuing interplay with the private sector, ensuring the needed co-existence that will benefit the country. Beyond this are shared interests, among which is the quest for sustainable development, especially in these times of uncertainty. A responsive private sector, with initiatives such as this event, is clearly making the right steps to achieve this goal.

Thomas “Tim” Orbos can be reached via email: thomas_orbos@sloan.mit.edu

Opinion BusinessMirror

www.businessmirror.com.ph

Vaccine deserts: Some countries have no Covid-19 jabs at all

Called from her womb Siegfred Bueno Mison, Esq.

THE PATRIOT

By Krista Larson | Associated Press

N

’DJAMENA, Chad—At the small hospital where Dr. Oumaima Djarma works in Chad’s capital, there are no debates over which coronavirus vaccine is the best.

There are simply no vaccines at all.

Not even for the doctors and nurses like her, who care for Covid-19 patients in Chad, one of the least-developed nations in the world where about one third of the country is engulfed by the Sahara desert.

“I find it unfair and unjust, and it is something that saddens me,” the 33-year-old infectious diseases doctor says. “I don’t even have that choice. The first vaccine that comes along that has authorization, I will take it.”

While wealthier nations have stockpiled vaccines for their citizens, many poorer countries are still scrambling to secure doses. A few, like Chad, have yet to receive any.

The World Health Organization says nearly a dozen countries—many of them in Africa—are still waiting to get vaccines. Those last in line on the continent along with Chad are Burkina Faso, Burundi, Eritrea and Tanzania.

“Delays and shortages of vaccine supplies are driving African countries to slip further behind the rest of the world in the Covid-19 vaccine rollout and the continent now accounts for only 1 percent of the vaccines administered worldwide,” WHO warned on Thursday.

And in places where there are no vaccines, there’s also the chance that new and concerning variants could emerge, said Gian Gandhi, UNICEF’s COVAX coordinator for Supply Division.

“So we should all be concerned about any lack of coverage anywhere in the world,” Gandhi said, urging higher-income countries to donate doses to the nations that are still waiting.

While the total of confirmed Covid-19 cases among them is relatively low compared with the world’s hot spots, health officials say that figure is likely a vast undercount: The countries in Africa still waiting for vaccines are among those least equipped to track infections because of their fragile health care systems.

Chad has confirmed only 170 deaths since the pandemic began, but efforts to stop the virus entirely here have been elusive. Although the capital’s international airport was closed briefly last year, its first case came via someone who crossed one of Chad’s porous land borders illegally.

Regular flights from Paris and elsewhere have resumed, heightening the chance of increasing the 4,835 already confirmed cases.

The Farcha provincial hospital in N’Djamena is a gleaming new campus in an outlying neighborhood, where camels nibble from acacia trees nearby. Doctors Without Borders has helped supply oxygen for Covid-19 patients, and the hospital has 13 ventilators. The physicians also have plenty of Chinese-made KN95 masks and hand sanitizer. Still, not a single employee has been vaccinated and none has been told when that might be possible.

That was easier to accept at the beginning of the pandemic, Djarma said, because doctors all around the world lacked vaccines. That has changed dramatically after the development of shots in the West and by China and Russia that have gone to other poor African countries.

“When I hear, for example, in some countries that they’ve finished with medical staff and the elderly and are now moving on to other categories, honestly, it saddens me,” Djarma said. “I ask them if they can provide us with these vaccines to at least protect the health workers.

“Everyone dies from this disease, rich or poor,” she says. “Everyone must have the opportunity, the

chance to be vaccinated, especially those who are most exposed.”

COVAX, the UN-backed program to ship Covid-19 vaccines worldwide, is aimed at helping low- and middleincome countries get access. A few of the countries, though, including Chad, have expressed concerns about receiving the AstraZeneca vaccine through COVAX for fear it might not protect as well against a variant first seen in South Africa.

Chad is expected to get some Pfizer doses next month if it can put in place the cold storage facilities needed to keep that vaccine safe in a country where temperatures soar each day to 43.5 degrees Celsius (110 degrees Fahrenheit).

Some of the last countries also took more time to meet the requirements for receiving doses, including signing indemnity waivers with manufacturers and having distribution plans in place.

Those delays, though, now mean an even longer wait for places like Burkina Faso, since a key vaccine manufacturer in India scaled back its global supply because of the catastrophic virus surge there.

“Now with global vaccine supply shortages, stemming in particular from the surge of cases in India and subsequently the Indian government’s sequestration of doses from manufacturers there, Burkina Faso risks even longer delays in receiving the doses it was slated to get,” said Donald Brooks, CEO of a US aid group engaged in the Covid-19 response there known as Initiative: Eau. Front-line health workers in Burkina Faso say they’re not sure why the government hasn’t secured vaccines.

“We would have liked to have had it like other colleagues around the world,” says Chivanot Afavi, a supervising nurse who worked on the front lines of the response until recently.

“No one really knows what this disease will do to us in the future.”

In Haiti, not a single vaccine has been administered to the more than 11 million people who live in the most impoverished country of the Western hemisphere.

Haiti was slated to receive 756,000 doses of the AstraZeneca vaccine via COVAX, but government officials said they didn’t have the infrastructure needed to conserve them and worried about having to throw them away. Haitian officials also expressed concerns over potential side effects and said they preferred a single-dose vaccine.

Several small island nations in the Pacific also have yet to receive any vaccine, although the lack of outbreaks in some of those places has meant there is less urgency with inoculation campaigns. Vanuatu, with a population of 300,000, is waiting to receive its first doses of the AstraZeneca vaccine later this month, but it has recorded only three cases of coronavirus, all of them in quarantine.

At the Farcha hospital in Chad, nine health care workers have gotten the virus, including Dr. Mahamat Yaya Kichine, a cardiologist.

The hospital now has set up pods of health care worker teams to minimize the risk of exposure for the entire staff.

“It took almost 14 days for me to be cured,” Kichine says. “There were a lot of caregivers that were infected, so I think that if there is a possibility to make a vaccine available, it will really ease us in our work.”

Associated Press writers Sam Mednick in Ouagadougou, Burkina Faso; Nick Perry in Wellington, New Zealand; and Danica Coto in San Juan, Puerto Rico, contributed.

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N action movie has one actor saying in part, “One thing I learned, it’s never to mess with mother-nature or your motherin-law…” Unquestionably, he was referring to mothers, figuratively and literally.

By and large, mothers are associated with the womb, also known by its medical counterpart as “uterus.”

A website even calls the latter the “Great Mother.” While men may feel discomfited about this matter, we may be surprised to find a lot of women likewise standing to be ill at ease on the issue of this muscular organ. More than being a vessel where a baby grows before it is born, the nature and characteristics of this reproductive organ can astonish or amaze.

Some fast facts include a number of women having two uteruses or with none at all. For the latter condition, medical technology has evolved into offering a remedy—a uterine transplant—where the recipients went on to conceive and give birth.

Quite amazing! Also, the uterus can go from 3 inches long and 2 inches wide—approximately the size of a pear or a smart phone, even your fist, to the size of a watermelon—as the baby inside grows. It has a network of nerves, arteries, veins and ligaments responsible for directing the blood flow to other parts of a woman’s body.

Lest women rush to call up their Ob-Gyne or prod their petrified husbands to accompany them for a doctor’s visit, let us take a halt on anatomy and carry on with conversing about the significance of a womb.

As we see ourselves in the mirror, or gaze at our companion, even at a stranger from afar, it is always but logical to conclude that we all came from a beginning point. The womb is an absolutely necessary place to start.

The formation of a human body is made possible by it. Fascinatingly, inside our mothers’ womb, we all come together at a position of “sameness.”

One preacher has asserted that as embryos, we all looked exactly the

same! Although unique attributes exist genetically from the moment of conception, on the outward scale, we are precisely alike. One cannot look at an early embryo and detect its gender, or recognize whether it is black or white, brown or red. Neither can anyone tell whether he or she will be a person with high aptitude or be debilitated with a disease or infirmity.

As embryos in a womb, all humanity looks the same.

Beguilingly, on the point of “sameness,” it may be well to recall that Jesus Christ looked “exactly the same” as you and me. He also came from Mary’s womb, not from elsewhere appearing all too suddenly aboard a chariot wielding a sword. He was a human being like people from Alaska, or the West or the East. He came as a living form just like individuals from the Philippines or Australia, and like folks working in hospitals and groceries.

As the aforecited preacher stated movingly, “Jesus came as an embryo in a womb to identify with all humanity and to bring salvation to all humanity.” He was formed in the womb, and was called from the womb for a purpose, thus He says, “The LORD called me from the womb, from the body of my mother he named my name.” [Isaiah 49:1].

Believe it or don’t, we are all formed in our mother’s womb for a reason. As we were woven or intricately embroidered, so to speak, inside the uterus, our function in life is knitted there as well. There is a purpose in our existence, which only we can fulfill. That is why we see others working abroad as a missionary, or serving the community as a street-sweeper, a policeman, or a village politician. Still others ac-

Monday, May 10, 2021

Our Heavenly Creator will be pleased to see how we can fulfill the special purpose for which He called us from our mother’s womb. As we celebrate this Mothers’ Day, may we find and fulfill our purpose in life so as not to lay to waste all the joy and suffering our mothers have been through when they carried us in their respective wombs. complish what they were born for by caring for the elderly, or performing in a musical stage. Whatever it is, it cannot be gainsaid that you and I were created and formed in a womb and born with a destiny. Alike we may all have started, in order to relate with one another, but different we shall finish according to a divine special purpose, as in the case of Mother Teresa.

Starting out as a teacher, then a nun, she eventually ended up as a missionary. Her name and advocacy will always be associated with helping the poor. Faced with so much challenges at the onset of her mission, she once thought and told herself—“You have only to say the word and all that will be yours again,” the Tempter kept on saying. “Of free choice, my God, and out of love for you, I desire to remain and do whatever be your Holy will in my regard.

I did not let a single tear come.” She was an ordinary woman who sought extraordinary challenges and found her purpose. She said, “By blood, I am Albanians, By citizenship, an Indian.

By faith, I am a Catholic nun. As to my calling, I belong to the world. As to my heart, I belong entirely to the Heart of Jesus.”

Like others, I am still attempting to discern my reason for being while most of my family and friends may have already carried it out. From my end, I could say that while I took the same path of teaching as my mother did, or became a public servant and military man like my father once was, my real calling falls within the ambit of being a writer. More than being a lawyer advocating a client’s rights, and further than sitting behind a corporate desk helping in the growth of a private company, my heart could sense (and I pray it beats correctly)

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that the power of my words, written and spoken, goes beyond all my other professions. Through writing and teaching, I can reach friends and strangers, those close by and ones that are far away. My text and letters, as published in the form of books and columns such as this, accord me with enough elbow room to tackle grace-filled stories about people and institutions, even events, and responsibly share life-changing lessons that the readers can bring home to their families as living principles.

Hopefully, by writing (or teaching), I can fulfill God’s special purpose that He created me for.

Long has it been a venerable truth, as long-standing as the Bible, that you and me, like the apostle Paul, were destined for a spiritual calling. Galatians 1:15 says, “...God, who separated me from my mother’s womb and called me through His grace….” Clearly, you and I were “separated” or set apart for a special purpose. The process involved our mothers’ wombs because our Heavenly Creator already knew our vocation even before we could be born. More notably, God called us by grace, not on account of our merits, or respective efforts, or because we are better than others. He chose each one of us out of unadulterated grace, and no amount of hard work or goodness from our end can add anything to His call.

If we have already determined our calling and are pursuing it to completion is a bonus. Our Heavenly Creator will be pleased to see how we can fulfill the special purpose for which He called us from our mother’s womb.

As we celebrate this Mothers’ Day, may we find and fulfill our purpose in life so as not to lay to waste all the joy and suffering our mothers have been through when they carried us in their respective wombs.

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.

Like migratory birds, let’s sing, fly, and soar with nature

By Dr. Theresa Mundita S. Lim

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he Covid-19 pandemic continues to impact many countries, slowing down economies and grounding social activities, including work and leisure. The anthropause, or the slowing down of human activities at the onset of the Covid-19 pandemic has afforded us time to reflect on the innate link between human and nature.

This year’s World Migratory Bird Day theme, “Sing, Fly, Soar—like a Bird” reminds us to connect with nature and wildlife, particularly the migratory bird species. The theme highlights the “bird song” and “bird flight” phenomenon that people from around the world appreciate, thus, making the conservation of these species a collective endeavour.

Migratory birds are our unsung heroes—they pollinate and disperse seeds, they help regulate pests and diseases; and their majestic beauty enriches the culture in the communities around the ecosystems they thrive in. The diversity of migratory bird species that visit key biodiversity areas play key roles in ensuring the integrity of ecosystems from which we derive vital services, such as food, water, and medicines. Their ability to transcend boundaries make them effective “global ambassadors of nature” for linking ecosystems and strengthening cooperation across the lands and the people within their flyway.

Listening to bird songs and watching them take flight connect us with nature, despite the limited mobility during the pandemic. They have become our “antidote” to the stresses and pressures, and scientists are now looking into establishing the linkage between emotional and mental wellbeing and birds and nature.

Despite the valuable ecosystem services provided by migratory bird species, their population continues to decline and be threatened due primarily to hunting, illegal wildlife trade and destruction of their habitats and important ecosystems. In the Asean region, 70 migratory species from a total of 510 have been listed as critically endangered, endangered, vulnerable and near threatened, according to various global data sources. Meanwhile, a study by Ding Li Yong, et al, an international team of conservationists and researchers, says “at least 180 species’’ along the East Asia-Australasia Flyway are being hunted and trapped for food and illegally traded as pets.

It is important to recognize the intricate link between migratory bird species and the well-being of the people. A study by the Asian Development Bank emphasises that more often, the total economic benefits derived from keeping the species alive in their natural habitats, in terms of their ecological functions and ecotourism contribution, among others, outweigh the monetary value that may be obtained from their direct use in illegal trade.

The Asean Center for Biodiversity has been engaged in various conservation and education programs in support of the Asean Member States (AMS). The Asean Heritage Parks

Terns stop over the Tubbataha Reefs National Park, one of the internationally important wetlands in the East Asian-Australasian Flyway for migratory birds. Photo by Lene and Claus Topp.

Program, for one, strives to protect and manage the ecosystems that serve as important feeding and watering sites of migratory birds such as the Indawgyi Wildlife Sanctuary park and Meinmahla Kyun Wildlife Sanctuary in Myanmar; Tubbataha Reef Natural Park in the Philippines; and Sungei Buloh Wetland Reserve in Singapore. The AHP Program supports the capacity development of the park management—providing assistance in training and equipment that can aid in their patrolling and law enforcement—as well as providing alternative livelihood support for the communities around the AHPs. With the Asean region at the heart of the East Asian-Australasian Flyway, the Asean Flyway Network (AFN) was established with the aim to facilitate cooperation among the member states, flyway site managers, and local, national, and international partners on the conservation of wetland habitats and migratory waterbirds.

With the support from the government of Japan through the JapanAsean Integration Fund, studies

have been conducted in designated and potential flyway sites to augment the data needed to scale up migratory bird species conservation measures in the region.

The essence of the World Migratory Bird Day celebration is to link and unite stakeholders to a common goal of conserving ecosystems and protecting migratory bird species.

The ACB joins this important global event and remains fully committed to supporting the AMS and fostering regional and international collaboration to ensure the survival of migratory bird species.

Let us allow the birds to sing their songs, soar freely, and thrive without threats to their existence. Let us recognize and treasure our wonderful connection, and fortify our resolve to continue to protect and conserve biodiversity.

This World Migratory Bird Day, let us “Sing, Fly, Soar—like a Bird!”

Umawit, lumipad, sumalimbay gaya ng isang ibon!

Dr. Theresa Mundita S. Lim is the Executive Director of the Asean Center for Biodiversity.

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Solons warn DOH: Hold ₧1-B purchase of remdesivir

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AW M A K ER S on Sund ay questioned the Department of Health (DOH) decision to buy another P1 billion worth of remdesivir and warned officials they may face criminal charges if they insist on procuring such despite the World Health Organization (WHO) recommendation against the drug’s use in Covid-19 patients.

In separate statements, Deputy Speaker Lito Atienza of Buhay and Anakalusugan Rep. Michael Defensor said no less than the WHO has frowned upon the drug, which costs up to P8,500 per vial, as additional medication to treat Covid-19 patients.

Atienza also questioned DOH’s “wasteful double standard of promoting a very expensive investigational drug such as remdesivir, while stonewalling other potential low-priced treatments, including human-grade ivermectin that costs only P35 to P40 per capsule.”

“The WHO recommends against the use of remdesivir because it does not have any positive effect on Covid-19 patient outcomes. And yet, the DOH is still irresponsibly using the drug in addition to standard care for patients,” Atienza said.

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Maguindanao quiet but wary after AFP foils BIFF attack

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By Rene Acosta

@reneacostaBM

RMED Forces Chief of Staff General Cirilito Sobejana called on the residents and local government officials of Maguindanao to remain vigilant following Saturday’s attack on Datu Paglas town by fully armed members of a breakaway group of the Bangsamoro Islamic Freedom, Fighters (BIFF).

“I enjoin the populace of and local leaders in Maguindanao to remain vigilant as we continue our watch until peace is stabilized,” said Sobejana on Sunday, a day after the military ended what could have been another siege as the one in Zamboanga City which was attacked and occupied by the Moro National Liberation Front (MNLF) years ago.

Armed fighters led by Ustadz Sulaiman Tundo attacked Datu Paglas and briefly occupied the town’s public market on Saturday, forcing the military to shut down the town as it braced for a showdown with the terrorist group aligned with the Islamic State.

The group, which is under Mohiden Animbang alias Commander Kagi Karialan, left the public

market and the town following 30 minutes of firefight with soldiers and negotiations with local officials.

Animbang is one of the original leaders of the BIFF but broke away from the group and aligned himself and his followers with IS, the terrorist group behind the attack of Marawi City in Lanao del Sur in 2017.

The military claimed it had prevented the Animbang/Karialan group from launching offensives against civilian residents in Datu Paglas early Saturday morning, with elements of the Army’s 601st Infantry Brigade intercepting the armed fighters.

The group has been the subject of intense anti-terrorism operations by the military in recent days

in neighboring municipalities, but some members of the group appeared to have eluded them and escaped to Datu Paglas.

“The extremist groups were forced to withdraw in the same morning after security forces were able to isolate the area. The national highway was again open for public commuters at around 10:30 in the morning of the same day after the clearing of the area was confirmed by security forces,” Joint Task Force Central spokesman Lt. Col. John Baldomar said.

Four homemade bombs or improvised explosive devices, laid by the group as they left Datu Paglas, were recovered by security forces.

No civilian or military casualties were reported killed.

Karialan and his group had been involved in the explosions in the town of Datu Saudi-Ampatuan in March 2021, killing two civilians and wounding two others.

Sobejana said the situation in Datu Paglas has already normalized but gave assurances the military will not rest until it has neutralized the threat.

“Let us continue to engage local government authorities, stakeholders and civilians to ensure that peace and security in Datu Paglas and its neighboring towns are preserved,” Sobejana said.

SQUATTER RINGS PREYING ON HOMELESS WARNED BY DHSUD

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HE Department of Human Settlements and Urban Development (DHSUD) has stepped up its efforts against squatting syndicates which keep millions homeless.

Squatting syndicates prey on the desire of Filipinos to own a home, targeting informal settler communities and cajoling them into buying “rights” on a property, it said in a statement at the weekend.

DHSUD Secretary Eduardo Del Rosario said these syndicates use fake documents and titles to “sell properties” and convince victims of their legitimacy.

“The scheme is downright malicious and conniving because it preys upon victims’ desire but ultimately denies them true home ownership. At the same time, it also strips legitimate owners of their right to use, access and enjoy the benefits of their land,” Del Rosario said.

“Let this serve as a warning to squatting syndicates. The department takes its mandate seriously and we are committed to protect the dream of every Filipino who wish to own a home,” he stressed.

By virtue of Executive Order 153 series of 2002, which instituted the National Drive against Professional Squatters and Squat-

ting Syndicates (NDAPSSS), DHSUD and DOJ have been given leeway to intensify the crackdown on squatting syndicates.

Last year, the NDAPSSS conducted more than 121 webinars and provided technical assistance to 20 local government units, homeowners’ associations, community associations and individuals.

These webinars were designed to help the public identify and monitor local squatting syndicates. They also shared information on how to coordinate with DHSUD and other agencies to curtail the syndicates’ operations.

Meanwhile, home buyers may verify a suspected title with the Registry of Deeds to ensure its legitimacy. The victims may also file cases with the DOJ. In addition, Del Rosario also advised the public to follow his DREAM tips—Demand, Read, Engage, Ask and Move—to avoid being scammed when purchasing property.

Demand to see pertinent documents; read and inspect the details of the documents and contracts closely; engage only with legitimate brokers and sellers; always ask about vague or unstated details in the contract; and move to inspect the site or neighborhood before closing the deal. Cai U. Ordinario

www.businessmirror.com.ph

Companies BusinessMirror

Monday, May 10, 2021

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Covid-19 curbs slash CPG income by 22% last year

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By VG Cabuag

@villygc

entury Properties Group Inc. (CPG) said its income last year fell 22 percent to P1.15 billion from the previous year's P1.47 billion, due to the impact of mobility restrictions on its operations.

Revenues for 2020 declined 24 percent to P10.84 billion from the previous year's P14.31 billion. Its horizontal affordable housing and office leasing businesses cushioned the fall in its earnings, the company said.

Ponciano S. Carreon Jr., the company’s CFO, said the decline in the company’s revenues and net income are within expected levels and that the company has prepared for the significant impact of

‘IP protection to spur MSME growth’

quarantine restrictions, which drastically reduced sales, collections and slowed down construction activities.

“Notwithstanding a challenging 2020 for most industries, CPG generated reasonable profits as a result of its diversification strategies in the prior years, demonstrating the industry experience and track record of the company and its management team. The highmargin segments of affordable housing

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he intellectual property (IP) registration of homegrown brands can help micro, small, and medium enterprises (MSMEs) recover from the pandemic, according to a former Trade official.

Former Department of Trade and Industry Undersecretary Carissa Cruz-Evangelista, who is the founder-chairman of the Philippine Fashion Coalition, said having IP protection can help MSMEs grow faster.

and office leasing proved to be resilient throughout the year and contributed 93 percent to the net income compared to 43 percent last year,” Carreon said.

Affordable housing contributed 35 percent or P98 million to the net income compared to 24 percent in 2019, while leasing contributed 58 percent or P665 million compared to 19 percent.

The company’s in-city vertical developments and property management businesses posted marginal contributions, as last year’s quarantine measures hampered construction and streamlined property management operations.

CPG said it will continue pursuing a balanced mix of revenue sources to ensure diversified revenue streams.

Through the brand Phirst Park Homes with its joint-venture partner Mitsubishi Corp., the company said it will launch new house and lot communities in the high-growth locations of Cavite, Bulacan and Quezon in the second half of 2021.

The company said it was able to bring

She called on MSMEs and the government to do more especially in helping the creative economy recover. She noted that the creative economy is the hardest hit due to lockdowns. “We need to take a look at our IP, our creative economy, how to prevent online piracy and online counterfeiting. Protect your intellectual property and take care of all the avenues where you sell,” Cruz-Evangelista said in a statement. She said IP protection is crucial especially

down its interest-bearing debt and decreased borrowing costs further by 130 basis points for 2020.

The operating efficiencies it instituted allowed the company to reduce the overall operating expenses by P311 million or about 9 percent year-on-year despite the additional expenses booked in the fourth quarter to cushion the expected softening of the market.

Financial ratios remained at healthy levels, with debt to equity improving to 0.9 times from 1.1 times as a result of positive operating cash flows, and repayment of short- and long-term debt and bonds payables.

CPG said it is also preparing for a vaccination program for its employees and their qualified dependents this second quarter. CPG was one of the 30 privatesector companies to participate in the first wave of tripartite agreements with the government to procure 2.6 million doses AstraZeneca vaccines for priority sectors including economic frontliners.

for those venturing into different markets through e-commerce, which she encouraged MSMEs to pursue following the exponential growth in online trade.

The United Nations Conference on Trade and Development (UNCTAD) earlier said lockdowns increased online retail sales’ share to total retail sales to 19 percent from 16 percent in 2020. In 2019, global e-commerce sales jumped to $26.7 trillion, up four percent from 2018. Cai U. Ordinario

PMI hails partnership with Lucio Tan group

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he newly appointed chief executive of cigarette manufacturer Philip Morris International Inc. (PMI) said he is "very happy" with the company’s partnership with the Lucio Tan group.

“Our business combination with the Tan family has proven to be very successful and we are very happy with this partnership; I am very happy with this partnership. It is an example of actually of a good partnership with great companies. It is one plus one is equals to more than two and that's an example of how that can work,” Jacek Olczak, the newly-appointed Philip Morris CEO, said.

Olczak was appointed as CEO of the company last week.

He used to serve as Philip Morris' chief operating officer.

He replaced J. André Calantzopoulos, who served as the company's CEO from 2013 until May 5, was appointed executive chairman of the company.

In February 2010, the operations of Philip Morris, which manufacturersMarlboroanditsflagshipproductPhilipMorriscigarettes,hascombinedwithTan'sFortuneTobaccoCorp., whichmainlymanufacturescheapproducts,suchasFortune and Mark cigarettes.

Both companies have an almost equal economic share of the company it called PMFTC Inc., with Tan serving as chairman but the day-to-day operations are being handled

by Philip Morris.

At some point, PMFTC's market share reached more than 90 percent, but this was eroded by its competitors, led by Mighty Corp.

In 2018, PMFTC's market share was reduced to more than 70 percent and some 29 percent by Japan Tobacco International Philippines, which bought Mighty Corp. in 2017.

Olczak said its local affiliate PMFTC was able to roll out its IQOS in Metro Manila, now with 15 stores, in the middle of last year despite the ravaging effects of the pandemic.

IQOS or short for “I Quit Ordinary Smoking” is a device in which a tobacco stick is heated and not burned.

Olczak said he has committed to accelerating Philip Morris' smoke-free transformation, announced in 2016, which envisions more people switching to heated tobacco using its device than burning it.

The company is focused on developing, scientifically substantiating,andresponsiblycommercializingsmoke-free products that are less harmful than smoking, with the aim of replacing cigarettes as soon as possible, it said.

Olczak has been a vital driver of PMI’s smoke-free transformation, which moved into its commercialization phase with the launch of IQOS in Nagoya, Japan, in 2014. Under his oversight as COO, the company increased the portion of its net revenues derived from smoke-free products to 28 percent in the first quarter. VG Cabuag

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Companies BusinessMirror

Monday, May 10, 2021

PSE STOCK QUOTATIONS

May 7, 2021

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

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

43.65 104 81.9 25.05 9.56 43.55 9.56 28.65 53.9 17.62 114.8 74.5 1.41 3.92 3.03 1.42 958 0.7 155.1 2,450 1

43.8 104.1 82 25.25 9.6 44 10.14 28.7 77 17.96 115 74.75 1.45 3.93 3.17 1.56 994.5 0.72 156.9 2,480 1.07

43.65 104.2 82.1 25.3 9.5 44.5 9.55 28.7 56.75 17.9 114.8 74 1.49 3.94 3.03 1.52 995 0.7 155 2,450 1

43.95 104.6 82.5 25.55 9.6 44.5 9.55 29.1 84.75 18 115 74.75 1.49 3.95 3.03 1.52 995 0.72 157 2,450 1

43.65 103.5 81 25.05 9.5 43.55 9.54 28.3 53.75 17.9 113.5 74 1.41 3.92 3.02 1.46 995 0.7 155 2,450 0.96

43.8 104 82 25.05 9.56 43.55 9.54 28.7 77 17.9 115 74.75 1.45 3.93 3.02 1.46 995 0.72 155.1 2,450 0.96

10,000 438,450 1,020,520 106,070,882 2,812,010 230,848,459.50 352,400 8,883,985 194,900 1,856,797 2,791,600 122,525,215 900 8,590 1,558,900 44,744,825 8,450 486,901 3,100 55,500 171,940 19,692,956 30,200 2,243,601.50 76,000 108,120 380,000 1,496,780 10,000 30,210 157,000 230,130 30 29,850 410,000 287,020 750 116,374 5 12,250 102,000 98,790

-4,380 -22,823,870 -43,000,373.50 460,040 -473,478 -74,987,305 -19,186,540 216,000 -6,012,348 -233,050 12,250 -

INDUSTRIAL AC ENERGY 6.92 6.94 6.78 7.02 6.78 6.92 15,125,100 104,819,400 1.32 1.33 1.35 1.35 1.3 1.33 1,409,000 1,855,540 ALSONS CONS ABOITIZ POWER 23.2 23.3 23.2 23.35 23.1 23.3 1,718,500 39,912,385 BASIC ENERGY 0.77 0.78 0.77 0.8 0.76 0.78 16,386,000 12,734,540 FIRST GEN 31.6 31.7 31.6 31.7 31.5 31.6 304,600 9,624,730 FIRST PHIL HLDG 67.7 67.75 67.5 67.75 67.5 67.7 28,520 1,930,418 MERALCO 272 273.8 273 273.8 271.2 273.8 87,860 23,984,000 MANILA WATER 14.8 14.9 14.96 15 14.8 14.8 1,232,900 18,366,028 PETRON 3.38 3.39 3.31 3.44 3.31 3.38 398,000 1,360,570 PETROENERGY 4.01 4.05 4 4.05 4 4.01 134,000 537,520 PHX PETROLEUM 12.7 12.82 12.32 12.8 12.32 12.8 632,200 7,938,940 PILIPINAS SHELL 21.65 22 21.5 22 21.3 22 328,600 7,088,270 SPC POWER 10.36 10.38 10.4 10.42 10.36 10.36 141,500 1,466,508 6.57 6.7 6.47 6.75 6.47 6.65 3,284,000 22,060,796 AGRINURTURE AXELUM 2.98 3.01 3.01 3.01 2.96 2.98 122,000 363,610 12.94 13.38 13.4 13.4 13.4 13.4 2,100 28,140 CNTRL AZUCARERA CENTURY FOOD 20.85 21 21.35 21.4 20.55 21 4,193,300 87,755,640 DEL MONTE 13.4 13.5 14.02 14.02 13.2 13.4 480,500 6,474,320 DNL INDUS 7.57 7.59 7.8 7.8 7.59 7.59 1,724,400 13,147,763 9.49 9.5 9.55 9.64 9.49 9.5 4,320,700 41,043,523 EMPERADOR SMC FOODANDBEV 66.9 67.6 66.15 68 66 67.6 543,390 36,683,075 0.61 0.63 0.61 0.63 0.61 0.63 112,000 69,350 ALLIANCE SELECT FRUITAS HLDG 1.41 1.44 1.42 1.44 1.4 1.44 9,043,000 12,884,500 GINEBRA 62.5 62.6 61.55 62.5 61.55 62.5 244,270 15,215,450.50 JOLLIBEE 175.6 175.7 175 177.3 175 175.7 374,300 65,937,505 LIBERTY FLOUR 28.3 28.5 28 29 28 28.5 95,700 2,689,360 MAXS GROUP 5.83 5.95 5.89 5.99 5.8 5.83 122,200 717,145 0.29 0.3 0.29 0.3 0.29 0.295 2,030,000 597,550 MG HLDG SHAKEYS PIZZA 7.3 7.4 7.45 7.45 7.3 7.4 148,400 1,097,292 ROXAS AND CO 1.01 1.02 1.01 1.02 1.01 1.02 5,442,000 5,496,760 RFM CORP 4.55 4.69 4.69 4.69 4.69 4.69 7,000 32,830 0.134 0.138 0.137 0.138 0.134 0.134 11,670,000 1,575,510 SWIFT FOODS UNIV ROBINA 131 132 131 132 129.5 132 526,130 68,587,600 VITARICH 0.8 0.82 0.82 0.82 0.8 0.8 199,000 160,060 VICTORIAS 2.51 2.55 2.48 2.55 2.48 2.55 419,000 1,044,490 60.05 62.8 60.1 60.1 60.05 60.05 1,390 83,479.50 CONCRETE B CEMEX HLDG 1.2 1.21 1.18 1.21 1.18 1.21 1,215,000 1,454,540 2.67 2.69 2.66 2.75 2.62 2.67 488,000 1,298,690 DAVINCI CAPITAL EAGLE CEMENT 11.48 11.8 12 12 11.48 11.8 94,500 1,092,358 7.05 7.09 7.2 7.2 7.01 7.09 63,000 446,910 EEI CORP HOLCIM 5.42 5.5 5.57 5.57 5.44 5.54 299,700 1,653,903 MEGAWIDE 6.67 6.69 6.74 6.79 6.62 6.69 375,800 2,517,817 PHINMA 12 12.3 12.3 12.3 12.3 12.3 22,600 277,980 1.12 1.14 1.16 1.16 1.11 1.14 101,000 112,990 TKC METALS VULCAN INDL 2.15 2.17 2.2 2.24 2.14 2.15 4,410,000 9,568,720 1.8 1.83 1.83 1.83 1.79 1.8 712,000 1,279,120 CROWN ASIA EUROMED 1.92 1.95 1.94 1.94 1.9 1.92 158,000 302,680 4.53 4.69 4.69 4.69 4.69 4.69 2,000 9,380 MABUHAY VINYL PRYCE CORP 5.42 5.44 5.35 5.42 5.35 5.42 3,335,000 18,072,830 22.6 22.95 22.5 22.6 22.5 22.6 1,900 42,850 CONCEPCION GREENERGY 3.96 3.97 3.84 3.98 3.76 3.97 9,989,000 39,121,300 9.57 9.59 9.8 9.8 9.52 9.57 413,000 3,981,003 INTEGRATED MICR IONICS 1.06 1.08 1.06 1.08 1.05 1.06 83,000 87,460 5.57 5.8 5.61 5.8 5.61 5.8 1,800 10,117 PANASONIC SFA SEMICON 1.28 1.29 1.29 1.29 1.28 1.29 376,000 484,870 5.74 5.75 5.7 5.75 5.62 5.74 1,046,300 5,968,003 CIRTEK HLDG

39,104,937 -6,189,150 -39,030 3,128,330 -1,763,404 -2,716,700 -6,180,714 -81,920 8,000 -1,071,292 -3,623,395 7,393,225 -48,692,210 40,200 -3,569,272 -4,977,678 -3,746,175.50 -30 7,246,957 -33,804,782 162,254 -50,950 -763,833 -2,386,750 -300,170 -13,704,305 -59,520 65,350 106,720 518,972 151,962 87,170 3,580 20,340 -4,712,450 -1,050,131.00 16,770 271,344

HOLDING & FRIMS ASIABEST GROUP 7.2 7.4 7.45 7.45 7.35 7.4 2,000 14,730 AYALA CORP 721 725 727 734 721 721 226,550 164,463,930 ABOITIZ EQUITY 34.35 34.4 35.05 35.3 34.4 34.4 1,530,000 52,966,830 10.34 10.36 10.36 10.38 10.32 10.36 1,146,400 11,864,360 ALLIANCE GLOBAL AYALA LAND LOG 2.97 2.99 3 3.02 2.97 2.97 774,000 2,315,240 ANSCOR 6.61 6.86 6.6 6.86 6.6 6.86 1,300 8,882 ANGLO PHIL HLDG 0.81 0.82 0.77 0.83 0.77 0.82 4,745,000 3,794,500 ATN HLDG A 0.7 0.71 0.7 0.71 0.68 0.71 543,000 379,960 ATN HLDG B 0.69 0.7 0.71 0.71 0.71 0.71 6,000 4,260 COSCO CAPITAL 5.01 5.05 5.01 5.07 4.98 5.05 577,200 2,883,091 DMCI HLDG 5.34 5.35 5.38 5.41 5.35 5.35 3,182,900 17,101,396 8 8.1 8 8.1 8 8.1 13,800 111,730 FILINVEST DEV FORUM PACIFIC 0.285 0.3 0.305 0.305 0.28 0.3 1,170,000 340,600 GT CAPITAL 501 510 511 515 501 501 251,810 127,991,195 HOUSE OF INV 3.36 3.4 3.65 3.65 3.4 3.4 72,000 251,380 JG SUMMIT 51.05 51.1 52 52.45 51.1 51.1 1,150,150 59,423,392.50 0.89 0.9 0.87 0.93 0.81 0.89 3,238,000 2,839,410 LODESTAR LOPEZ HLDG 3.32 3.39 3.33 3.33 3.32 3.32 53,000 176,010 12.76 12.82 12.8 12.82 12.7 12.82 453,300 5,792,942 LT GROUP MABUHAY HLDG 0.46 0.485 0.465 0.465 0.46 0.46 210,000 96,800 1.74 1.78 1.75 1.75 1.75 1.75 12,000 21,000 MJC INVESTMENTS METRO PAC INV 3.96 3.99 4.08 4.09 3.96 3.96 12,121,000 48,491,870 PRIME MEDIA 2.62 2.64 2.7 2.7 2.62 2.64 1,015,000 2,695,130 SOLID GROUP 1.21 1.25 1.21 1.25 1.2 1.25 30,000 36,740 SYNERGY GRID 361.4 370 376 376 370 370 260 96,470 SM INVESTMENTS 920 928 922 936 920 920 242,960 224,276,270 SAN MIGUEL CORP 115.7 116 116 118 115.8 116 178,190 20,829,854 SOC RESOURCES 0.67 0.7 0.67 0.7 0.67 0.67 45,000 30,180 129.8 131.4 131.4 131.4 131.4 131.4 40 5,256 TOP FRONTIER WELLEX INDUS 0.25 0.255 0.25 0.255 0.25 0.255 820,000 207,350 0.244 0.245 0.235 0.245 0.235 0.245 7,060,000 1,708,110 ZEUS HLDG

-72,074,175 -28,540,275 -9,322,830 2,970 57,880 -1,013,339.00 737,873 0 -60,898,000 -44,200 -44,216,431.50 -4,902,856 13,950 -43,174,640 609,250 -69,943,870 -1,306,685 11,800

PROPERTY ARTHALAND CORP 0.63 0.65 0.65 0.65 0.63 0.63 148,000 93,520 ANCHOR LAND 7.61 8 7.6 7.61 7.6 7.61 600 4,565 AYALA LAND 32.2 32.25 32.25 32.45 32 32.25 12,491,300 402,461,955 1.35 1.38 1.25 1.49 1.18 1.27 553,000 735,430 ARANETA PROP AREIT RT 32.8 33 33.6 33.6 32.4 32.8 3,322,800 109,201,490 BELLE CORP 1.39 1.41 1.42 1.42 1.42 1.42 30,000 42,600 A BROWN 0.95 0.96 0.96 0.96 0.94 0.96 1,161,000 1,105,190 CITYLAND DEVT 0.92 0.93 0.9 0.92 0.88 0.92 589,000 526,460 CROWN EQUITIES 0.124 0.125 0.133 0.133 0.125 0.125 6,640,000 834,940 5.69 5.75 5.68 5.77 5.68 5.75 479,300 2,735,120 CEB LANDMASTERS CENTURY PROP 0.39 0.4 0.395 0.41 0.385 0.4 11,800,000 4,634,650 0.32 0.33 0.32 0.325 0.32 0.32 1,270,000 408,900 CYBER BAY DOUBLEDRAGON 12.6 12.64 12.68 12.72 12.5 12.64 588,500 7,431,850 1.94 1.95 1.95 1.97 1.93 1.95 7,574,000 14,734,090 DDMP RT DM WENCESLAO 6.77 6.78 6.78 6.78 6.76 6.78 46,000 311,822 EMPIRE EAST 0.28 0.285 0.285 0.285 0.285 0.285 80,000 22,800 EVER GOTESCO 0.185 0.187 0.192 0.198 0.181 0.187 27,130,000 5,054,980 FILINVEST LAND 1.1 1.11 1.11 1.11 1.09 1.1 4,439,000 4,883,660 GLOBAL ESTATE 0.83 0.84 0.85 0.85 0.83 0.83 79,000 65,610 8990 HLDG 7.11 7.39 7.11 7.39 7.1 7.39 66,900 477,197 1.29 1.31 1.3 1.31 1.29 1.3 445,000 578,340 PHIL INFRADEV 1.79 1.8 1.77 1.82 1.74 1.79 2,246,000 3,977,730 CITY AND LAND MEGAWORLD 3 3.01 3.07 3.1 3.01 3.01 21,551,000 65,730,680 MRC ALLIED 0.405 0.41 0.41 0.42 0.405 0.405 27,750,000 11,403,750 PHIL ESTATES 0.54 0.55 0.56 0.56 0.54 0.55 5,465,000 2,992,880 PRIMEX CORP 3.44 3.45 3.42 3.49 3.33 3.45 3,507,000 12,074,270 16.44 16.5 16.42 16.68 16.42 16.5 3,439,400 56,956,574 ROBINSONS LAND PHIL REALTY 0.249 0.25 0.25 0.26 0.249 0.25 670,000 167,510 1.5 1.54 1.49 1.54 1.49 1.51 78,000 119,980 ROCKWELL SHANG PROP 2.6 2.65 2.67 2.67 2.61 2.65 64,000 168,690 2.29 2.39 2.33 2.4 2.3 2.39 143,000 341,050 STA LUCIA LAND SM PRIME HLDG 33.8 33.95 34.2 34.35 33.75 33.8 2,631,800 89,452,195 1.44 1.46 1.42 1.48 1.4 1.44 1,033,000 1,455,820 SUNTRUST HOME 3.48 3.49 3.43 3.53 3.43 3.48 809,000 2,810,050 VISTA LAND

SERVICES ABS CBN 10.98 11 11.02 11.02 10.96 10.98 115,000 1,265,576 GMA NETWORK 8.54 8.55 8.75 8.75 8.5 8.55 1,465,800 12,540,711 0.455 0.47 0.455 0.46 0.455 0.46 60,000 27,400 MANILA BULLETIN GLOBE TELECOM 1,831 1,835 1,812 1,840 1,812 1,831 19,520 35,756,380 PLDT 1,268 1,269 1,265 1,268 1,252 1,268 81,010 102,332,925 APOLLO GLOBAL 0.189 0.19 0.191 0.192 0.188 0.189 78,750,000 14,941,890 CONVERGE 18.9 19 19.1 19.12 18.7 19 8,194,800 154,880,112 DFNN INC 4.94 4.98 4.45 5.45 4.4 4.98 29,845,000 148,046,870 DITO CME HLDG 9.8 9.81 9.9 9.95 9.76 9.8 4,215,600 41,546,700 IMPERIAL 1.61 1.79 1.8 1.8 1.8 1.8 5,000 9,000 JACKSTONES 2.23 2.28 2.26 2.32 2.23 2.29 59,000 133,140 NOW CORP 2.56 2.57 2.6 2.63 2.55 2.56 1,231,000 3,188,260 TRANSPACIFIC BR 0.375 0.38 0.365 0.38 0.365 0.375 4,920,000 1,847,450 PHILWEB 2.61 2.63 2.58 2.63 2.52 2.63 578,000 1,486,000 2GO GROUP 8.23 8.24 8.3 8.3 8.23 8.23 44,400 367,043 ASIAN TERMINALS 15.6 15.64 15.72 15.72 15.62 15.64 1,160,600 18,129,624 2.9 2.91 2.97 3 2.9 2.91 356,000 1,042,960 CHELSEA CEBU AIR 48.25 48.3 48.2 48.35 48.2 48.25 140,900 6,795,535 INTL CONTAINER 135.4 135.5 129.7 136 129.1 135.4 3,308,240 445,721,414 LBC EXPRESS 15.54 16.78 15.54 15.54 15.54 15.54 100 1,554 MACROASIA 4.59 4.6 4.62 4.7 4.56 4.59 2,047,000 9,428,600 METROALLIANCE A 2.11 2.15 2.2 2.2 2.11 2.15 368,000 787,940 PAL HLDG 5.92 5.95 5.9 5.95 5.85 5.92 47,200 278,363 HARBOR STAR 1.3 1.31 1.28 1.34 1.28 1.31 848,000 1,122,380 ACESITE HOTEL 1.53 1.6 1.55 1.6 1.5 1.6 65,000 99,390 BOULEVARD HLDG 0.088 0.089 0.087 0.09 0.087 0.089 90,370,000 7,989,210 DISCOVERY WORLD 2.81 2.84 2.9 2.92 2.81 2.84 373,000 1,075,460 WATERFRONT 0.54 0.55 0.56 0.56 0.54 0.55 991,000 545,160 CENTRO ESCOLAR 6.51 7.3 6.51 6.51 6.51 6.51 100 651 FAR EASTERN U 585.5 590 590 590 590 590 10 5,900 STI HLDG 0.365 0.37 0.365 0.37 0.365 0.365 310,000 114,150 BLOOMBERRY 6.13 6.16 6.26 6.42 6.13 6.13 3,956,100 24,540,287 PACIFIC ONLINE 2.18 2.2 2.08 2.27 2.08 2.19 399,000 873,610 LEISURE AND RES 1.58 1.6 1.56 1.64 1.56 1.6 4,679,000 7,363,240 MANILA JOCKEY 2 2.08 2.1 2.2 2 2 356,000 726,730 PH RESORTS GRP 1.92 1.93 1.93 1.96 1.9 1.93 2,684,000 5,148,190 PREMIUM LEISURE 0.4 0.405 0.395 0.405 0.395 0.4 1,820,000 727,800 5.91 6 6 6 6 6 500 3,000 PHIL RACING ALLHOME 7.48 7.5 7.53 7.81 7.46 7.5 1,016,800 7,627,570 METRO RETAIL 1.27 1.29 1.27 1.31 1.26 1.29 187,000 237,580 PUREGOLD 34.05 34.4 35.1 35.45 34.05 34.05 3,760,400 129,773,430 ROBINSONS RTL 50.95 51 52.35 52.35 50.7 51 1,009,620 51,603,201 PHIL SEVEN CORP 107.4 108 107.5 108 107.5 108 580 62,540 SSI GROUP 1.17 1.18 1.17 1.2 1.16 1.18 382,000 447,030 WILCON DEPOT 18.38 18.4 18.4 18.44 18 18.4 1,531,700 28,172,598 APC GROUP 0.375 0.39 0.375 0.39 0.375 0.39 620,000 234,050 PRMIERE HORIZON 2 2.01 2 2.04 1.99 2.01 8,055,000 16,171,420

-75,680,735 -32,538,390 -4,260 8,900 250,000 -61,410 -44,550 -2,744,866 54,700 -161,364 63,340 -1,920,620 85,400 -23,360 42,480 4,995,950 -1,122,000 5,647,820 17,458,906 61,380 -9,600 -49,287,125 43,200 -202,270 -19,644,155 -17,815,035 319,280 -11,727,590 -5,018,960 398,518 -57,100 -54,100 293,250 830 -2,355,670 -29,700 3,680,960 74,551,773 -4,573,390 -23,640 329,420 -483,450 -14,875,772 -12,540 11,340 -308,000 -624,824 28,360 -47,628,825 -36,566,844 18,340 -21,040 6,092,162.00 33,750 1,551,540

MINING & OIL ATOK 8.84 8.87 8.9 8.9 8.7 8.82 113,200 1,001,782 -95,832 APEX MINING 1.67 1.68 1.68 1.7 1.66 1.68 3,750,000 6,275,460 184,600 ATLAS MINING 8.27 8.28 8.35 8.56 8.27 8.28 2,177,200 18,289,842 593,873 COAL ASIA HLDG 0.32 0.33 0.325 0.335 0.32 0.335 730,000 235,350 -32,500 CENTURY PEAK 2.85 2.89 2.9 2.9 2.89 2.89 33,000 95,570 86,900 DIZON MINES 7 7.18 7.15 7.19 7 7.18 4,300 30,617 FERRONICKEL 2.52 2.53 2.5 2.55 2.43 2.52 1,923,000 4,845,630 928,490 GEOGRACE 0.365 0.37 0.37 0.37 0.36 0.365 590,000 212,900 0.189 0.19 0.183 0.191 0.183 0.19 77,600,000 14,574,100 LEPANTO A LEPANTO B 0.192 0.197 0.182 0.199 0.182 0.197 2,050,000 392,750 49,250 MANILA MINING A 0.015 0.016 0.016 0.017 0.015 0.016 680,500,000 10,908,000 MANILA MINING B 0.017 0.018 0.017 0.018 0.016 0.018 118,400,000 2,097,900 -64,800.00 MARCVENTURES 1.32 1.35 1.27 1.36 1.27 1.35 654,000 870,100 160,130 NIHAO 1.6 1.61 1.5 1.64 1.5 1.61 1,348,000 2,109,240 NICKEL ASIA 5.55 5.56 5.51 5.62 5.47 5.55 6,516,800 36,263,959 4,993,275 OMICO CORP 0.395 0.415 0.405 0.415 0.39 0.415 510,000 202,900 8,100 ORNTL PENINSULA 0.95 0.96 0.94 0.97 0.93 0.96 365,000 346,760 PX MINING 6.85 6.87 6.81 6.97 6.75 6.87 3,548,300 24,354,263 -1,176,744 SEMIRARA MINING 12.6 12.62 12.7 12.74 12.6 12.62 402,200 5,080,626 1,092,536 UNITED PARAGON 0.01 0.011 0.011 0.012 0.011 0.011 171,800,000 1,891,000 33,000 ACE ENEXOR 16.9 17 17.2 17.3 16.8 17 70,600 1,196,186 1,700 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.012 101,200,000 1,234,300 ORNTL PETROL B 0.013 0.014 0.014 0.014 0.013 0.013 175,200,000 2,403,000 310,700 PHILODRILL 0.012 0.013 0.013 0.013 0.012 0.012 163,500,000 1,964,000 -42,000 PXP ENERGY 7.22 7.25 7.42 7.42 7 7.22 2,740,400 19,635,485 343,941

PREFFERED HOUSE PREF A 101 101.5 101.5 101.5 101.5 101.5 68,020 6,904,030 AC PREF B2R 505 536 538 538 538 538 10 5,380 CEB PREF 44.1 44.15 44.25 44.25 43.95 44.15 269,200 11,874,435 -798,060 CPG PREF A 103.5 104 103.5 103.5 103.5 103.5 15,000 1,552,500 DD PREF 100.6 101 101 101 101 101 1,090 110,090 FGEN PREF G 107 109.5 107 107 107 107 100 10,700 GLO PREF P 507 508 507 507 507 507 1,990 1,008,930 GTCAP PREF B 1,035 1,046 1,046 1,046 1,046 1,046 365 381,790 381,790 MWIDE PREF 101.6 102 102 102.1 101.6 102 2,520 256,783 MWIDE PREF 2A 99.5 100 100 100 100 100 1,000 100,000 MWIDE PREF 2B 100.5 101 101 101 101 101 40 4,040 PNX PREF 3B 101.5 104 104 104 103.5 104 760 78,740 PNX PREF 4 1,005 1,008 1,002 1,008 1,002 1,005 1,475 1,483,365 PCOR PREF 2B 1,023 1,039 1,023 1,039 1,023 1,039 105 107,495 PCOR PREF 3A 1,085 1,118 1,118 1,118 1,118 1,118 10 11,180 PCOR PREF 3B 1,141 1,155 1,141 1,155 1,141 1,155 60 69,160 SFI PREF 1.66 1.8 1.66 1.66 1.66 1.66 3,000 4,980 SMC PREF 2C 79.6 79.85 79.85 79.85 79.6 79.6 19,280 1,537,858 SMC PREF 2E 76.3 76.9 76.2 76.2 76.2 76.2 14,000 1,066,800 SMC PREF 2F 78.7 78.95 79 79 79 79 2,750 217,250 SMC PREF 2I 78 78.5 78.5 78.5 78 78 13,760 1,077,660 295,160 SMC PREF 2J 77 77.5 77.25 77.25 77 77 5,900 455,550 SMC PREF 2K 75.8 76 75.9 75.9 75.8 75.8 50,260 3,810,008 -

PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 8.05 8.1 8.25 8.25 8.05 8.1 78,700 639,797 -54,189

WARRANTS LR WARRANT 1.76 1.77 1.67 1.84 1.63 1.77 1,494,000 2,588,830 0

SMALL & MEDIUM ENTERPRISES ALTUS PROP 17.48 17.8 17.88 18 17.48 17.8 22,900 403,380 134,676 2.35 2.36 2.38 2.39 2.35 2.35 62,000 146,710 -11,810 ITALPINAS KEPWEALTH 5.25 5.36 5.2 5.25 5.2 5.25 8,600 45,120 45,120 MERRYMART 4.74 4.75 4.74 4.8 4.72 4.74 3,477,000 16,543,160 522,300

EXHANGE TRADE FUNDS

FIRST METRO ETF 95 96.5 96.95 96.95 95 95 50,200 4,804,783.50 463,508

www.businessmirror.com.ph

SEC: Be wary of investment scheme promising big returns

D

By Manuel T. Cayon | Mindanao Bureau Chief @awimailbox

avao City—The Securities and Exchange Commission (SEC) warned consumers in the Davao Region against an investment scheme that promises members and business partners a 30-percent monthly interest for 1 year.

The SEC said in an advisory that Mer's Business Center offers its investment scheme to the public through Facebook Live by Roger Camingawan as well as in his YouTube channel.

"Records of the Commission show that Mer's Business Center is not registered as a corporation or partnership. However, Mer's Business

Center has been issued a Certificate of Business Name Registration on 21 December 2020 by the Department of Trade and Industry under the name of its owner, Reynaldo Abing Camingawan," the advisory read.

"Nonetheless, Mer's Business Center is not authorized to solicit investments from the public as it did not secure prior registration and/or

STOCK-MARKET OUTLOOK

license to solicit investments from the Commission as prescribed under Section 8 of the SRC [Securities Regulation Code]."

It may be recalled that Roger Camingawan was mentioned in two separate advisories issued by the Commission against persons propagating fake news on Kapa Community Ministry International Inc. (Kapa).

In the advisory dated May 21, 2020, the SEC said Roger Camingawan was identified as one of the persons spreading false news that the cases filed by the SEC for violation of the SRC were already dismissed and said dismissal will render the Cease and Desist Order issued against Kapa as void.

"In an Advisory dated 09 December 2019, Roger Camingawan was also mentioned as untruthfully claiming that Kapa has been registered as a crowdfunding entity under the Rules Governing Crowdfunding," the SEC said.

The agency reminded the public

mutual funds

May 7, 2021

Last week

Share prices continued to fall last week with the main index returning to the 6,200-point level, as economic uncertainty dampened investor sentiment despite some positive reports regarding the first quarter earnings of many listed firms.

The benchmark Philippine Stock Exchange index (PSEi) fell 112.16 points to close at 6,258.71 points.

The main index was down all week long with many investors staying on the sidelines. The value of trade slumped to just an average of P4.3 billion for 5 trading days.

Foreign investors, which made up 39 percent of the trades on the average, were still net sellers at P2.55 billion.

Among the subindices only the Services index managed to post gains of 1.29 points to close at 1,444.40, while all the rest gave up points.

The broader All Shares index fell 45.60 to 3,877.43, the Financials index lost 3.88 to 1,390.35, the Industrial index was down 50.70 to 8,628.65, the Holding Firms index plunged 214.78 to 6,226.53, the Property index declined 33.68 to 3,044.26 and the Mining and Oil index retreated 55.93 to 9,588.36.

For the week, losers edged gainers 157 to 75 and 17 shares were unchanged.

Top gainers were Philippine Savings Bank, DFNN Inc., Bogo-Medellin Milling Co. Inc., Manila Mining Corp. B, Keppel Philippines Holdings Inc. A and GMA Network Inc. Top losers were Vulcan Industrial and Mining Corp., Basic Energy Corp., Discovery World Corp., Acesite (Phils.) Hotel Corp., Centro Escolar University and ACE Enexor Inc.

This week

Share prices may continue to decline this week as investors continue to adjust their economic recovery expectations—from fast and robust to a gradual and challenging one—in light of the recent developments in the government's handling of the Covid-19 situation and quarantine measures.

It will be an eventful week as the government will announce the first quarter GDP results on Tuesday, the policy-making Monetary Board of Bangko Sentral ng Pilipinas will meet on Thursday to decide on the key interest rates and President Duterte will also announce the quarantine status of Metro Manila and nearby provinces, which are under modified enhanced community quarantine until May 14.

“Investors are expected to watch out for the first quarter 2021 GDP figures to determine where the economy is coming from as it moves into the second quarter which is seen to be relatively tougher so far due to the stringent social restriction measures in the NCR Plus,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc. said.

Chart-wise, the PSEi’s immediate resistance is still seen at its 10-day exponential moving average which closed at 6,350.77 last week. Immediate support is seen at 6,100, he said.

Meanwhile, broker 2TradeAsia said GDP consensus sits between a contraction of 5 percent to a growth of 2 percent for the first quarter. The broker said it expects it will contract by 4.4 percent, but a more meaningful rebound may be felt in the second quarter mainly due to the base effect as last year's economy was on a virtual standstill.

“But any indication that output, especially on the consumption side, has turned for the better will be reflected in valuations,” it said. It advised to expect volatility in the trading due to the continued reporting of the first quarter results of listed firms.

Stock picks

Broker Regina Capital Development Corp. advised to trade the range on the stock of Metropolitan Bank and Trust Co. (MBT) as its share price appears not yet done with its sideways consolidation.

It said trading range of P42.83 to P46.25 remains intact.

“Indicators are mixed but lean more closely to being bearish. Also, take note that the selling pressure is spiking which could drag MBT's price down in the coming days,” it said.

Metrobank shares closed last week at P43.55 apiece.

Meanwhile, it recommended selling during rallies on the stock of BDO Unibank Inc. after its share price failed to breach its resistance at P104.91 for two consecutive tries.

“The majority of the indicators are bullish but momentum is still quite low to support a sustainable rally—meaning there's still a possibility to see BDO pierce through its resistance level intraday. If the latter happens, investors with attractive positions can take advantage of it to take in profits. Meanwhile, support can be found at P103.10,” it said.

BDO shares closed last Friday at P104 apiece. VG Cabuag

again “to learn from the lessons out of other similar investment schemes that have turned out to be scams— Kapa, ALMAMICO [Alabel-Maasim Small Scale Mining Cooperative]/ ALAMCCO [Alabel-Maasim Credit Cooperative], and Rigen Marketing, among others.”

Photographs the SEC posted alongside its communication dispatch on Sunday showed the organization and the Camingawans issuing promotional materials and announcing new branches. One photograph shows a social media screen shot of Roger Camingawan, purportedly the branch manager of Kidapawan, North Cotabato handing out a sack of rice to a woman as her month’s worth of “gross production.”

“We are reminding the public to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf,” the SEC said. “Please note that the SEC can not guarantee the recovery of your money.”

NAV One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

202.39

8.72%

-7.8%

-3.88%

-10.93%

ATRAM Alpha Opportunity Fund, Inc. -a

1.2708

31.01%

-6.35%

1.69%

-3.21%

10.79%

-12.3%

-6.06%

-11.2%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7165 10.9%

-7.6% n.a.

-10.87%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6734 1.43%

-6.75% n.a.

-9.2%

First Metro Save and Learn Equity Fund,Inc. -a

10.01%

-5.63%

-2.99%

-9.6%

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6376

1.37%

-9.49%

-7.89%

-5.96% n.a.

-6.81%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7821

4.467

MBG Equity Investment Fund, Inc. -a

95

26.25%

PAMI Equity Index Fund, Inc. -a

41.3913

11.23%

-5.99%

-2.62%

-11.65%

Philam Strategic Growth Fund, Inc. -a

435.28

8.62%

-6.02%

-3.12%

-10.98%

Philequity Alpha One Fund, Inc. -a,d,5

1.0074

16.92% n.a. n.a.

-8.19%

Philequity Dividend Yield Fund, Inc. -a

1.0721

11.75%

-5.13%

-1.84%

-8.23%

Philequity Fund, Inc. -a

31.2325

11.32%

-5.43%

-1.55%

-10.17%

9.31% n.a. n.a.

-11.54%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8076

Philequity PSE Index Fund Inc. -a

4.2419

11.93%

-5.45%

-1.82%

Philippine Stock Index Fund Corp. -a

709.31

11.96%

-5.37%

-1.97%

-11.52%

Soldivo Strategic Growth Fund, Inc. -a

0.6455

10.4%

-9.61%

-5.36%

-10.21%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2295

-11.46%

8.22%

-7.56%

-3.27%

-10.88%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.81 11.39%

-5.74%

-2.11%

-11.74%

United Fund, Inc. -a

-5.03%

-0.7%

-9.37%

-5.18%

-1.28%

3.0079

10.6%

-16.08%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

95.166

12.02%

-11.52%

Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.2524

42.43%

4.84%

8.68%

4.12%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7419

40.49%

11.21%

11.85%

4.13%

-3.25%

Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a

1.6143

7.76%

-1.6%

-1.25%

ATRAM Philippine Balanced Fund, Inc. -a

2.1199

7.97%

-2.63%

-0.75%

-7.24%

First Metro Save and Learn Balanced Fund Inc. -a 2.4638

5.65%

-1.35%

-1.46%

-6.21%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1845

-0.16% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

0.38%

0.58%

1.8699

4.66%

PAMI Horizon Fund, Inc. -a

3.485

4.92%

-1.1%

-0.78%

-8%

Philam Fund, Inc. -a

15.6276

5.32%

-0.99%

-0.76%

-7.73%

Solidaritas Fund, Inc. -a

1.9536

6.31%

-2.06%

-0.59%

-6.71%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3141 5.86%

-3.37%

-1.78%

-7.25%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9465

5.26% n.a. n.a.

-7.44%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8454

6.68% n.a. n.a.

-10.94%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8271

7.67% n.a. n.a.

-11.36%

Sun Life Prosperity Dynamic Fund, Inc. -a

4.88%

0.8141

-4.56%

-2.55%

-7.1%

-4.79%

-8.29%

Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a

$0.038

-0.05%

2.81%

1.31%

-2.86%

PAMI Asia Balanced Fund, Inc. -b

$1.1366

23.61%

2.72%

5.28%

-1.18%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.6469 29.74%

8.58%

8.64%

2.97%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2029 15.72%

4.63%

4.77%

0.07%

-0.03%

Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a

370.96

2.28%

3.13%

2.52%

1.912

-0.97%

0.88%

0.15%

0.62%

Cocolife Fixed Income Fund, Inc. -a

3.2232

1.65%

3.95%

4.44%

0.26%

Ekklesia Mutual Fund Inc. -a

2.2579

-0.78%

2.27%

1.58%

-1.66%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4316 0.44%

3.14%

1.77%

-0.88% -3.53%

ATRAM Corporate Bond Fund, Inc. -a

Philam Bond Fund, Inc. -a

4.4708

-0.88%

4.08%

1.72%

Philam Managed Income Fund, Inc. -a,6

1.3212

3.12%

4.28%

2.74%

0%

Philequity Peso Bond Fund, Inc. -a

3.9597

2.09%

4.31%

2.48%

-1.03%

Soldivo Bond Fund, Inc. -a

1.0276

0.76%

4.21%

1.83%

-1.38%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1862

2.12%

5.13%

2.8%

-0.62%

Sun Life Prosperity GS Fund, Inc. -a

0.69%

4.42%

2.16%

-0.95%

1.7383

Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a

$483.98

3.34%

3.1%

2.4%

0.02%

ALFM Euro Bond Fund, Inc. -a

Є219.76

2.67%

1.04%

1.22%

0.26%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1748

-1.83%

1.73%

1.08%

-8.25%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 0.39%

1.46%

0.95%

-2.63%

PAMI Global Bond Fund, Inc -b

$1.0519

-0.19%

0.54%

-0.59%

-3.73%

Philam Dollar Bond Fund, Inc. -a

$2.4852

3.61%

4.87%

2.25%

-1.99%

Philequity Dollar Income Fund Inc. -a

$0.0627299

5.3%

3.51%

2.22%

0.66%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1441 -0.36%

2.69%

1.1%

-2.47%

Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a

2.52%

0.15%

First Metro Save and Learn Money Market Fund, Inc. -a 1.051 1.3% n.a. n.a.

130.01

2.04%

0.28%

Sun Life Prosperity Money Market Fund, Inc. -a 1.3029

0.49%

1.93%

3.13% 2.89%

2.57%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0566

1.44%

1.73% n.a.

0.4%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.225 n.a. n.a. n.a.

8.45%

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

Banking&Finance

OK of bill seen to boost financial inclusion plan

By Jovee Marie N. dela Cruz @joveemarie

A

senior lawmaker has called for the swift congressional approval of a Houseapproved Bangko sa Baryo Act that aims to provide last-mile financial connectivity in unbanked communities nationwide through electronic means.

Camarines Sur Rep. Luis Ray F. Villafuerte said the swift congressional passage of House Bill (HB) 6924 will accelerate the government’s goal of financial inclusion for all Filipinos and open new livelihood opportunities in faraway communities either unserved or underserved by the formal banking system.

“We can leverage digital technology to convert convenience stores, pharmacies and other highly accessible retail outlets to act as additional service delivery channels of banks, especially in unbanked communities, by acting swiftly on this measure,” Villafuerte, lead author of the proposed bill, said.

Citing a study commissioned by a digital banking solutions provider, Villafuerte said unbanked and underbanked segments in the Philippines are expected to decline to 20 percent of the bankable population because more Filipinos are willing to shift to digital banking amid the pandemic.

Based on the report, three out of five, or 60 percent, of bankable Filipino customers are willing to shift to digital banking, the lawmaker said.

Villafuerte said Congress can help the Bangko Sentral ng Pilipinas (BSP) meet its target of at least 70 percent of adult Filipinos having bank accounts by December 2022 at the earliest, with the swift passage of the proposed Bangko sa Baryo Act.

He added the bill seeks to enable banks to reach far-flung communities by tapping retail outlets as their cash agents.

HB 6924 was approved by the House of Representatives on third and final reading in August last year.

A counterpart measure filed by Sen. Grace Poe Llamanzares remains pending in the Senate.

Since 2017, the BSP has already authorized retail outlets such as stores and pharmacies to operate as cash agents through its Circular 940. Banks were also allowed to set up branch-lite units (BLUs) through Circular 987, in line with the BSP’s goal of realizing at least 70 percent of adult Filipinos having bank accounts as early as December 2022 or by 2023.

As a result, around 40,000 cash agents have been actively operating in the country along with over 1,800 BLUs before the onset of the Covid-19 pandemic, according to the BSP. Villafuerte said that while the BSP already has the regulations in place for the establishment of cash agents for accredited banks, it can only realize its goal of making 70 percent of adult Filipinos financially inclusive by ensuring that banks focus their off-branch operations in far-flung areas through the passage of the “Bangko sa Baryo” bill.

Under HB 6924, a cash agent may file an application with a contracting bank if it meets the following requirements: it is a duly-registered business in the Philippines; has engaged in commercial activity for at least three months; has conducted commercial activities continuously in a place and area that is known to the public; has sufficient capacity to properly operate electronic devices; and has the necessary infrastructure to undertake banking operations.

BusinessMirror

Monday, May 10, 2021

B3

Govt subsidies to state firms nearly halved in first quarter

T

By Bernadette D. Nicolas

@BNicolasBM

HE amount of subsidies given by the national government to companies it owns or controls during the first quarter of this year was 49.1-percent lower compared to the same period a year ago.

Data from the Bureau of the Treasury showed subsidies extended by the national government to government-owned and -controlled corporations (GOCCs) from January

to March this year fell to P11.42 billion; last year it was P22.44 billion.

Broken down, the bulk of the subsidies for the first quarter of this year went to major non-financial gov-

ernment corporations that received a total of P8.06 billion while other government corporations took the remaining P3.36 billion.

Topping the list of GOCCs with the biggest subsidy during the period was the National Irrigation Administration, which received P7.49 billion or 65.6 percent of the total. It was followed by the following: Bases Conversion and Development Authority (P841 million); Small Business Corp.

(P500 million); Philippine Heart Center (P444 million); and, National Kidney Transplant Institute (P320 million).

For March alone, the government disbursed P3.84 billion, a 67.9-percent contraction from P11.95 billion it released in the same month last

year. In the same month, major nonfinancial government corporations received a total of P2.89 billion while other government corporations got P944 million.

The national government provides subsidies to state-run firms to fund operations not covered by the corporate revenues or to finance specific programs or projects.

Last year, the national government spent a total of P230.42 billion in subsidies to GOCCs, the highest since 1986 when the government started collecting data. The Philippine Health Insurance Corp. cornered the biggest allocation, receiving P62.4 billion or 27 percent of the total subsidies released during the period.

AllBank says ready to move to ‘cash-light’ regime

By VG Cabuag

@villygc

L

ENDER AllBank Inc. said it is joining the move to a cashlight environment through the use of QR (quick response) code to transfer money between individuals and merchants.

The rapid shift to digital payments due to lockdowns provided a momentum for AllBank to modernize its payment mechanisms, the lender said.

The digital payment system has a huge potential and is seen to benefit merchants, such as All Day supermarket, the grocery store chain of the Villar group, it added in a statement.

“This Covid-19 pandemic has caught all of us by surprise and very

permarket, this is a welcome development as we will be able to ensure that our customers have a safe, secure, reliable and efficient channel to make their payments,” he added.

The BSP is pilot-testing the P2M payment schemes as part of its “Digital Payments Transformation Roadmap 2020-2023” to pave the way for financial inclusion and digitalization of payments. Full implementation of the P2M (person-to-merchant) scheme is slated in the third quarter, the central bank said.

Villar said he was glad the regulator took the initiative to adopt a national QR code—called QR Ph—as this would encourage more people to shift to more secure, simple and seamless electronic transactions on

much accelerated the pace of digital transformation in our country.

Most, if not all, companies have had to cope with the pandemic by changing the way they do things – from our normal manual or face-to-face transactions to digital ones,” All Day Director Manuel Paolo A. Villar said in his message during the launch of the national QR code.

The said event was led by the Bangko Sentral ng Pilipinas, Philippine Payments Management Inc. and Bancnet last week.

“These all happened in 2020 and are still continuing in 2021. The use of e-wallets and other payment platforms have become widely-used,” Villar said.

“For merchants like All Day Su-

the back of a surge of instant payments last year by more than 5,000 percent.

AllBank, formerly known as Optimum Development Bank, is the first thrift bank allowed to participate in the BSP’s pilot P2M program.

A QR code is a two-dimensional image-based bar code capable of holding large amounts of information. QR codes store information using patterns of black dots and white spaces, arranged in a square grid.

The central bank in 2019 has launched a QR code standard (QR Ph) to be followed by banks and other electronic money issuers.

The QR Ph can be used for digital person-to-person or P2M transfers of money.

LandBank a top firm for career growth Life insurer eyes women hedging vs breast cancer

S

tate-run Land Bank of the Philippines Inc. was hailed as the only government agency in the country to make it to a list

by LinkedIn Corp. of the 15 best companies for career growth in the Philippines in 2021.

LinkedIn based the list on seven key factors seen to lead to career progression, namely: ability to advance; skills growth; company stability; external opportunity; company affinity; gender diversity; and, educational background.

“This recognition from LinkedIn affirms LandBank’s commitment to support our employees who are our most valuable asset,” LandBank

President and CEO Cecilia C. Borromeo said. “We endeavor to build a culture of service excellence where our employees flourish professionally, and deliver delightful service to our customers.”

The state lender said that the seven factors used for the LinkedIn ranking are “consistent with our efforts to invest in employee success, career development, and equity and inclusion,” to ensure it maintains “its reputation as an employer of choice.”

LandBank also said it places their priority on their employees by implementing various policies for physical and mental wellness, as well as training and development programs

across the country.

Just recently, the bank announced that it has entered into an agreement with the Provincial Government of Cebu to “open doors” for livelihood opportunities and business expansion to farmers and fishers in underdeveloped areas in the province with the launch of the Enhanced Countryside Development (ECD) program.

This was after Cebu Governor Gwendolyn F. Garcia signed last March 5 a Memorandum of Agreement with LandBank and two other government financial institutions for the implementation of the ECD program.

L

IFE insurer Pru Life UK unveiled its latest health protection product that targets Filipino women seeking financial protection from breast cancer.

Pru Life UK said its plan is the first cancer-specific product offered in the market. The plan, called “PRUHealth Prime-Select Breast Cancer” comes in two packages.

A one-time premium of P150 provides a lump sum amount of P10,000 upon diagnosis while a one-time premium of P425 offers a lump sum amount of P10,000 upon diagnosis and a guaranteed lump sum amount of P20,000 when undergoing Mastectomy or

Lumpectomy. This is valid for one year.

“This protection product, designed for the women in our lives, be it our mother, sister, daughter, daughter-inlaw, or grandmother, goes a long way for less than P2 a day. With it Pru Life UK underscores women’s health by giving hardworking and caring Filipinas financial protection from breast cancer, currently the most common cancer among women in the Philippines and worldwide1,” Pru Life UK Chief Customer Marketing Officer Allan M. Tumbaga.

Last month, Pru Life UK also introduced two new optional supplemental critical illness benefits or riders, the Select Top 4 and Select 52 Critical Ill-

National Reinsurance earns ₧120M in net profit in 2020

T

HE National Reinsurance Corp. of the Philippines (Nat Re) said last week it earned P120 million in net income in 2020, down 24 percent from P157 million in 2019, as stronger underwriting results were weighed down by lower investment income.

The company said it also generated “other comprehensive income” of P267 million to bring its “total comprehen-

sive income” to P387 million in 2020.

“While Nat Re’s financial performance in 2020 reflected financial market volatility caused by Covid-19 especially in the first half of the year, the company ensured operational resilience to continue delivering reinsurance-related services and serve its customers efficiently,” Nat Re President and CEO Allan R. Santos was quoted in a statement as saying.

Gross written premiums grew by 3 percent to P4.47 billion from P4.34 billion in 2019 due to growth in reinsurance premiums from the life and non-life domestic business.

Net underwriting income before administration expenses rose significantly by 151 percent to P341.7 million from P136.4 million in 2019, resulting from higher reinsurance premium income and lower loss ratios.

Nat Re’s combined ratio—the sum of loss, commission, and expense ratios and a measure of the profitability of the company’s insurance operations improved to 98 percent from 104 percent in 2019. A combined ratio below 100 percent indicates the company is making an underwriting profit, while a combined ratio above 100 percent means the company is paying more claims and expenses versus premiums.

Citigroup defeat on $500M error was wrong–groups

I

NVESTMENT firms shouldn’t be allowed to keep half a billion dollars Citigroup Inc. accidentally sent them because the payment wasn’t due for three more years, legal experts and advocacy groups said in asking a court to overturn the ruling.

A group of law professors said in a brief filed Thursday with the federal appeals court in Manhattan that the lower-court ruling, allowing Revlon Inc. lenders to hold on to $504 million the bank wired them last August, misapplied legal precedent and could harm the industry’s standards.

“The sheer magnitude of the transfer, constituting nearly 100 times the size of defendants’ scheduled coupon payments,

was a giant ‘red flag,’” the professors told the court. They said the prepayment of the 2016 loan, at par and without notice, “constituted another glaring red flag that would have caused a reasonable person to inquire.”

The law shouldn’t encourage similar “self-imposed ignorance in situations where it is nearly costless for a party” to “uncover and remedy the error,” the professors said in their friend-of-the-court brief offering the judge their views. They aren’t a party to the case.

$900-million blunder THE conflict started after Citigroup inadvertently wired more than $900 million

to asset managers for the Revlon lenders and then asked for it back. The bank sued firms, including Brigade Capital Management, HPS Investment Partners and Symphony Asset Management, that wouldn’t return the funds. It unexpectedly lost that battle in February.

The embarrassing blunder forced Citigroup to answer to regulators and tighten its internal controls. The ruling was a boon to creditors, which had been locked in a battle with billionaire investor Ronald Perelman’s struggling cosmetics company over previous restructuring maneuvers.

Citigroup has asked the appeals court to overturn US District Judge Jesse Fur-

man’s decision, saying it “sent shockwaves through the markets and generated outcry across the financial industry.” Oral argument in the appeal will be held in August or September.

The professors said the funds “were not due until the term loan matured in 2023,” and full repayment required prior written notice from both Revlon and Citibank that never occurred and was never questioned. The payment occurred outside of the contract between the investors, the company and the bank, which was acting as administrative agent on the loan. That should have “put a reasonable lender on notice of Citibank’s mistake,” they said.

Bloomberg News

ness riders to PRUHealth Prime, an “insuravest” plan with critical illness coverage against all forms of cancer.

The Select Top 4 Critical Illness Benefit provides for top four covered late-stage critical illness conditions while the Select 52 Critical Illness Benefit provides for 52 covered late-stage critical illness conditions.

Customers who are availing of PRUHealth Prime but would want to be covered against other critical conditions can purchase either of the two new critical illness riders during the new business application process and/ or after policy issuances.

Bernadette D. Nicolas

HarvardManagementUpdate BusinessMirror BusinessMirror

www.businessmirror.com.ph Monday, May 10, 2021 b4

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

What does it mean to be a manager today?

A

Empower a new manager mindset by creating a network of support

By Brian Kropp, Alexia Cambon & Sara Clark

year into the pandemic, the long-lasting effects of Covid-19 on the way people work is becoming clear. From now on, many employees will function in a hybrid world with more choices about where, when and how much they work.

Analysis by Gartner, the research firm for which we all work, shows that 46% of the workforce of mid-size companies is projected to work in a hybrid setting in the near future.

These changes will also affect those in managerial roles. Within the last five years, human resources executives have started to hire and develop managers who are poised to be great coaches and teachers. But the assumption that coaching should be the primary function of management has been tested since the pandemic began.

Three disruptive, transformative trends are challenging traditional definitions of the managerial role:

Normalization of remote work

As employees and managers have become more distributed, their relationships to one another have become more asynchronous. Gartner estimates that in more than 70% of manager-employee relationships, either the manager or the employee will be working remotely at least some of the time going forward.

Managers will have a dramatically smaller window into the realities of their employees’ lives and will begin to focus more on individuals' outputs and less on the processes used to produce them.

Acceleration in use of technology to manage employees

Many companies have invested

in new technology to monitor their remote employees during the pandemic. Organizations have been buying scheduling software, expense report auditing tools and even technologies to replace manager feedback using artificial intelligence. While companies have been focused on how technology can automate employee tasks, it can just as effectively replace the tasks of managers. At the extreme, by 2024, new technologies could potentially perform as much as 69% of the tasks historically done by managers, such as assigning work and nudging productivity.

Employees’ changing expectations

As companies have expanded the support they offer to their employees in areas like mental health and child care during the pandemic, the relationships between employees and their managers have started to shift to become more emotional and supportive. Workers now often expect their managers to help them improve their life experience, rather than just their employee experience.

T he trends outlined above mean that we are headed for a new

Managers’ motivation to be empathetic increases when they have a support system that makes it clear that ensuring employees' well-being isn’t their responsibility alone and when organizations invest in roles designed to support them. Goodway Group, a fully remote company, has created a dedicated role, the team success partner, whose responsibilities include fostering trust and psychological safety and supporting team health. Managers work with team success partners to respond to the unique challenges distributed employees are facing; this includes facilitating remote conversations and supporting the assimilation of new team members.

Create manager capacity for empathy by optimizing reporting lines

era of management where it’s less important to see what employees are doing and more important to understand how they feel. To be successful in this new environment, managers must lead with empathy. In a 2021 Gartner survey of 4,787 global employees assessing the evolving role of management, only 47% of managers were ready to do this. The most effective managers of the future will be those who build fundamentally different relationships with their employees.

Empathetic managers are able to contextualize performance and behavior: They transcend the simply understanding of the facts of work and proactively seek information to place themselves in their direct reports’ contexts.

Empathy requires developing high levels of trust and care and a culture of acceptance within teams.

This is a lot to ask of individuals, but it’s worth it. Gartner's analysis shows that managers who display

high levels of empathy have three times the impact on their employees’ performance than those who display low levels. And employees at organizations with high levels of empathy-based management are more than twice as likely to agree that their work environment is inclusive.

Creating a new workforce of empathetic managers is especially difficult for mid-size companies. While larger companies can earmark billions of dollars for m a n a ge r s' de ve lopme nt , sm a l ler compa n ies a re more fiscally constrained. Mid-size companies also often don’t have the scale to create a managerial class within their workforce— they need managers to be both managers and doers.

Mid-size companies need to develop more empathetic managers without massive investment and continue to have those managers work rather than just manage.

Here’s how to achieve this balance:

Develop empathy skills through vulnerable conversation practice

The task of leading with empathy can be intimidating. Many managers understand empathy conceptually but aren’t sure how to use the quality as a management tool.

Managers need opportunities to practice—and, crucially, room to make mistakes. To build empathy, Zillow creates cohorts of managers across the organization who engage in rotating one-on-one conversations with peers to troubleshoot managerial challenges. These conversations offer frequent, psychologically safe opportunities to engage in vulnerable conversations focused on how managers can commit to specific actions to care for themselves while supporting the well-being of their team members.

Managers are able to practice their empathy with their peers, asking specific questions to understand others' challenges and articulating their own circumstances in response to probing queries.

Managers are already struggling with the demands of an evolving work environment, and actions that drive empathy are time consuming. One key part of the solution is to help managers prioritize their workload to focus on fewer, higher-impact relationships with individuals and teams.

Recognizing the pressure on managers to maintain team connectedness in a remote environment, leaders at Urgently, a digital roadside assistance company, rebalanced their managers’ workloads.

When managers have a team whose size they can handle, they’re able to dedicate time to fostering deeper connections and responding with more empathy.

To be successful in today's evolving environment, companies have to think holistically about how current trends will affect their managerial class. Organizations that equip leaders to be empathetic will achieve outsized returns on performance.

Brian Kropp is chief of research for the Gartner’s HR practice, where Alexia Cambon is a research director and Sara Clark is a senior research principal.

A fair way to lead a team of contractors and full-time employees ByRon Ashkenas, Larry Hirschhorn & Thomas Giernalczyk

A

large percentage of work in today’s organizations is accomplished through projects that have a discrete beginning and end, as well as a specific outcome. And these projects are often assigned to cross-functional teams that increasingly include contract workers.

As a team leader, it’s easy to assume that all people working together on a project should be treated and managed similarly.

But the reality is that full-time employees and contractors have different motivations, expectations and backgrounds. In our experience, when you simply manage everyone in the same way, those differences can be magnified and cause problems.

As a leader, you need to keep the differences between full-time employees and contract workers front of mind as you manage a project team— and mitigate problems proactively by making sure all members of the team have the information and context they need to stay on the same page.

Understanding the differences between the motivations and op-

portunities of internal team members and project-based contractors is the first step. These factors are important because of three ways in which the work lives of full-time employees and contractors differ:

How they are paid

Because full-time employees receive salary while contractors are either paid by the hour or on a fixed fee, their sense of urgency and time management choices will be different. If contractors are paid on an hourly basis, for example, they may have an incentive to put in more time; if they have a fixed fee arrangement, they may be motivated to get the work done more quickly. It’s also worth noting that full-time employees receive benefits as part of their compensation, while most contractors do not. These differences can result in resentment on the part of the contractors, who may also long to enjoy some of the company's perks.

How they advance in their careers

As part of a larger organization, full-time people who are part of successful project teams will often have multiple opportunities for internal advancement. But to be in line for these opportunities, they need to be visible to manag-

ers and senior sponsors. So they will be motivated to have leading roles in project reviews and meetings, which will reduce time in the limelight for contractors.

For contract workers, meanwhile, career advancement means finding new gigs where they can push their technical skills, deal with new problems or move into new types of organizations. To achieve this, contractors will want referrals and positive references. Since these are more likely to be effective when coming from senior executive sponsors, contractors will also want some amount of visibility.

The challenge is to find the right balance so that internal people get the credit they need, while contractors get the good will that generates referrals.

How secure they feel about their jobs

While full-time employees can volunteer for a project, in some cases they may feel that they do not have a choice about whether to participate, what role they play or how long they stay involved. They may envy the flexibility and freedom of the contractor who is not bound to the organization and requirements for advancement. On the other hand, contractors oper-

ate with a certain amount of insecurity. They don’t have the same kind of organizational “home” and are subject to the vagaries of the marketplace. These differences can lead to a sense that the grass is greener on the other side.

To better understand your team members, begin by getting these differences out on the table.

Have explicit one-on-one or small group discussions with your own people and then with contractors about what each member wants to get out of the project and what success will look like. Open up the dialogue so that you get a sense of the differences and can provide some guidance on behaviors that might not be appropriate (such as full-time employees withholding critical information from contractors).

Leaders should then focus on team building and alignment. Contractors brought in for a particular project only are likely to be in the dark about the organizational, political or strategic context of the project, and may have different conceptions of what the project is supposed to accomplish and why.

You should deliberately work to ensure that the whole team is on the same page. Alignment should then be reinforced continuously

through social and professionally oriented events.

As you bring the team together and launch the work, create and enforce explicit agreements and ground rules of behavior for both contractors and internal members.

What information will be shared, with whom, how often and in what formats? When will the team meet and with what agendas? What tools and facilities are provided to everyone? Who gets face time with the senior executives or clients?

Will team members and contractors present themselves as part of the same organization or as people coming from different places?

In answering these questions, consider two simple guidelines.

First, follow the risk. Team members are your agents in the field; they should be given as much information, tools and access as possible to be effective. But if certain information or tools are sufficiently proprietary or delicate enough that they can’t be shared outside the company, it may make sense to withhold those resources from the contractors or wall off part of the project. Still, if the technical expertise of the contractor is essential to success, then the risk of poor quality from having a less skilled internal person do the work

might outweigh the exposure to proprietary information or tools.

The second guideline is to avoid making a two-class system.

This can undermine team performance and create tension and resentment. If you do need to limit exposure to executives to internal people, make sure that these employees give due credit to their contractor colleagues. Similarly, if the team is co-located at a company site, give contractors access to cafeterias, gyms and employee parking lots if possible. In the event that you do need to exclude contractors from company meetings or special trips, or treat them differently because of labor laws, make it clear to them why you need to do this.

Bringing together the best talent from your own organization and from the outside would appear to be a straightforward strategy for project success. Still, it will only work if you realize that internal and external team members may need to be managed differently.

Ron Ashkenas is a partner emeritus at Schaffer Consulting. Larry Hirschhorn is a principal of CFAR. Thomas Giernalczyk is executive director of M19-Manufaktur für Organisationsberatun.

www.businessmirror.com.ph

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BusinessMirror

Editor: Gerard S. Ramos

• Monday, May 10, 2021

B5

Flores de Mayo 2021: ‘Kabanalan’ T

HE beloved Mang Ben Farrales may be gone and we may still be languishing amid a pandemic, but the annual Flores de Mayo will continue to flourish. The Dean of Filipino Designers founded an annual tradition to honor of Mother Mary in 1979 as the founding chairman of the Congregacion del Nombre de Jesus. As he became frail in recent years, fashion director Ogee Atos (assisted by Bong Regala and the Congregacion) assumed the responsibility of mounting this Maytime revelry.

The festival was held in recent years at the SM Mall of Asia. But for the second year in a row, the 42nd edition, with the theme “Kabanalan: The Ten Evangelical Virtues of Mary,” will be held virtually on May 16. A Mass, to be livestreamed at 5 pm, will be celebrated at the Sto. Niño de Violago Chapel in Quezon City.

“As a designer worthy of note, to be a part of an elite group of designers invited to the most prestigious Mayflower event in this country is indeed a major privilege, as it comes with an honor to be in the league of such great artists in the Philippine fashion as Ben Farrales, Pitoy Moreno, Aureo Alonzo, Joe Salazar, Danilo Franco, Gerry Katigbak, Pepsi Herrera, Renee Salud, Nolie Hans, Steve de Leon, Edgar Allan, Rholand Roxas, to name a few,” said Atos.

Through the years, the fantastic creations have

been worn by the most charming Filipinas including beauty queens Melanie Marquez, Abbygale Arenas, Kristine Florendo, Susan Ritter and Sara Jane Paez and some celebrities.

“The Congregacion’s Flores de Mayo have brought to the fore the artistry of Filipino fashion designers in perpetuating the cultural and traditional mores in dressing, thereby keeping the heritage alive for the next generation to emulate. It remains unequaled,” Atos declared.

Since there would be no physical presentation owing to stringent Covid protocols, the 50 participating designers were requested to submit sketches of their entries. The designs must be a terno in blue and white plus one color or gold for accent.

The designers were divided following “The Ten Evangelical Virtues of Mary.” Most Pure (Purisima): Nolie Hans, Toni Galang, Olé Morabe, Steve de Leon, Jing Chua; Most Prudent (Prudentisima): Renee Salud, Ronaldo Arnaldo, Roland Lirio, Rey Lazaro, Edgar San Diego; Most Humble (Humildisima): Adam Balasa, Paolo Blanco, Vince Sityar, Ranel Espaldon, Sonyboy Mindo; Most Faithful (Fidelisima): Barge Ramos, Albert Andrada, Nardie Presa, Pencil Diestra, Jon Fernando; Most Devout (Devotisima): Nickky Martinez, Jontie Martinez, Marlo Javier, Pepe Quitco, Federico Navarro; Most Obedient (Obedientisima): Gil Granado, Russ Cuevas, Danika Damo, Ramil Estrope, Patty Valle; Most Poor (Pobrisima): Chico Estiva, Louis Pangilinan, Rian Fernandez, Mikee Andrei, Rowell Panlilio; Most Patient (Pacientisima): Buddy Reyes, Leslie Rivera, Christopher Quejano, Roy Aquino, Obet Orajay; Most Merciful (Misercordiosima): Albert Fontanilla, JP Francisco, James O’Briant, Val de Chavez, Gary Roces; Most Sorrowful (Dolorsisima): Lloyd Arceo, Uly Montenegro, Crio Ebreo, Rainier Lim, Athena Barretto.

After the Mass, there will be virtual recognition for La Flor de Pasay, La Flor de Manila, Reina de las Flores, Rosa Mystica and the Magandang Pilipina

ROW 1: (from left) Ronaldo Arnaldo, Marlo Javier, Gary Roces. Row 2: Chico Estiva, Jontie Martinez, Patty Valle. Row 3: Barge Ramos, Albert Andrada, Nolie Hans. Row 4: Paolo Blanco, Danika Damo, Roland Lirio.

Row 5: Crio Ebreo, Olé Morabe, Rainier Lim SPECIAL THANKS TO BONG REGALA

award, also known as the Ben Farrales Award as a tribute to the late founding chairman. But fashion pillars Nolie Hans, Renee Salud, Steve de Leon, Toni Galang and Jing Chua will not be in contention for the titles. ■

Global brand’s skin care was conceptualized in the Philippines

AUSTRALIAN beauty brand BYS, which is known for its colorful and affordable makeup, recently launched its first skin-care line called Skin by BYS. The good news is that BYS Philippines has taken the lead in innovating a complete skin-care line for the global brand. The line, which includes 10 products, will be released globally.

The 10-piece collection is ethically crafted (veganfriendly and cruelty-free), hypoallergenic and contains no petroleum, artificial colors, propylene glycol, MEA, DEA, TEA, phthalates, triclosan, parabens and sulphates. The products are all made in Korea and conceptualized in the Philippines.

The packaging is holographic and all the bottles and tubes are either white or clear. Prices range from P399 to P899.

Skin by BYS contains Botaniceutical Plus-10, 10 powerful natural ingredients that target most skin concerns, including deep cleansing, dryness, irritation, dull and uneven skin tone, improving elasticity and fighting free radicals linked to aging.

“The skin-care line is the partner to the makeup.

Skin by BYS is taking care of the blank canvas. The iFace team has always had big dreams and this time, our dream of making the Philippines lead when it comes to skin-care innovations on the world stage has become a reality,” said Angie Goyena, general manager of iFace, the distributor of BYS Cosmetics in the country.

BYS is known for its colorful and bold makeup and collaborations with celebrities, like Nadine Lustre, Regine Velasquez and Korean superstar Park Seojoon.

The line has everything from serums to face masks.

■ EXTRA GENTLE MICELLAR WATER. Using micellar water is an extra step in your routine that may seem unnecessary but since we wear sunscreen, double cleansing is a must.

■ EXTRA GENTLE MILK JELLY CLEANSER. This is a nonirritating formula suitable for all skin types.

■ EXTRA HYDRATING BALANCING TONER. This hydrating toner is formulated with hyaluronic acid to help restore skin elasticity and reduce fine lines while keeping moisture locked in. If your skin is oily, you can use the toner on its own after cleansing as a light moisturizer.

This is one of the three products I have been using for over a week and so far, I love its light and nonsticky hydrating effect.

■ EXTRA GLOW BRIGHTENING SERUM. This is a lightweight serum rich in vitamin C and natural skin boosters, including Papaya and Lime Fruit Extract.

Consistent use results in visibly brighter and plumper skin with a more youthful, healthy glow.

■ EXTRA FIRMING YOUTH SERUM. This is a plantderived serum that helps reduce the appearance of wrinkles and fine lines.

■ EXTRA GLOW FACE CREAM. This is a brightening and moisturizing cream. I’ve been using it for day under my sunscreen. It’s light but still moisturizing.

■ EXTRA BRIGHTENING EYE CREAM. This cream brightens the skin around the eye area and helps diminish puffiness, thanks to its anti-inflammatory properties and other natural skin boosters.

■ EXTRA EFFORTLESS PORE PERFECTING SUNBLOCK. This weightless sunscreen has broad-spectrum SPF 50 PA+++, as well as pore-blurring and sebumcontrolling properties. It contains Green Tea Leaf Extract, which effectively protects the skin against UV rays and the damage it can cause. I’ve also been using this and loving it so far. It’s light and not sticky.

■ EXTRA GLOW SHEET MASK AND THE EXTRA FIRMING SHEET MASK. This completes your skin-care routine and helps you achieve a healthy-looking glow.

Skin by BYS, said Goyena, is a gentle reminder to love ourselves harder.

“We didn’t stop at ‘Love yourself.’ It is much harder to love ourselves without the filters, without the makeup, without the armor. It’s harder to love ourselves without the skin-perfecting makeup or the eyeliner flick. But it is exactly when we are most vulnerable, most raw, and most unfiltered that we need to love ourselves a little more fiercely, a little harder.”

Skin by BYS is exclusively available at Watsons, The SM Store, and online on Watsons.com. ph and ShopSM.com.

LIP CARE IS IMPORTANT WE spend money and time on skin care so we should also exert some effort to make sure that our lips are healthy.

Treat your dry and chapped lips to a good lip balm, one that immediately makes a difference when you apply it. Mentholatum LipCare products are the ultimate lip savers.

The Therapy Lip Balm and Therapy Lip Gel offer faster repair and relief from dry, chapped and/or cracked lips, which can be uncomfortable and painful.

Both products contain SPF 15 to protect lips against harmful UV rays. They also provide a fresh, cooling menthol sensation that relieves chapped lips from sun exposure and being in a cold air-conditioned room.

Lip Pure Fragrance-Free is formulated with 100 percent food-grade ingredients, including Beeswax, Royal Jelly and Manuka Honey from New Zealand which help to lock-in moisture and hydrate lips. It also contains Acai Berry Fruit Oil, Shea Butter and Grape Seed Oil which provide long-lasting moisturization and help reduce lips lines for smoother, fuller lips. It’s also free of fragrances, colorants and preservatives.

The Lip Pure Botanical Oils variant contains six types of natural oil ingredients such as Shea Butter, Olive Oil, Macadamia Nut Oil, Meadowfoam Seed Oil, Jojoba Oil and Almond Oil to deeply moisturize and protect the skin of the lips. It’s also free of fragrances, colorants and preservatives.

LipIce Kids, which come in delightful Lemon and Strawberry flavors, has a soft and gentle moisturizing formula for children’s delicate lips. It also has SPF 15 for protection against UV rays and is formulated without menthol and camphor.

Enjoy up up to 50-percent off on select Mentholatum LipCare products from May 10 to 16 at Watsons. The products are also available on Lazada and Shopee.

THE LOUNGE LIFESTYLE

AS we shift into new lifestyles—WFH arrangements, online classes, Zoom meetings, binge-watching our favorite series—loungewear has become a defining fashion staple in many of our wardrobes. And after a year, in elevated style, it has found its way in the spring/summer runways: track pants at Celine and sweat suits at Rodarte and Balenciaga.

Cozy, cool, and chill loungewear has been updated with fresh colors and new features at Surplus, with stores located in most SM Supermalls.

Hoodies are hot, tracksuits are right on track in the new Surplus collection. There are elevated knit sets, including knit polos with a preppy vibe—the ultimate top to make you feel cozy during Zoom meetings.

Explore soft fabrics such as fleece, ribbed, knits, sweat shorts, biker shorts or loose-fitting pullovers and oversized tees for a stylish comfort. Elevate your loungewear game easily by mixing and matching colors and styles, creating a chic yet effortless monochromatic look or throwing on some accessories.

And while spending more time at home, Surplus has wellness essentials to help you unwind and make staying indoors much more enjoyable. Get cozy with Japanese Tatami Chairs in fun colors; and breathe healthy with Wooden Humidifiers or Wooden Air Purifiers. Create your own spa at home with the Rest Easy Massager and Rechargeable Hot Compress.

There are many ways to shop at Surplus, including Order To Deliver (bit.ly/OTDcontacts), Call to Deliver (www. thesmstorecatalog.com/surplus), and via its flagship store on Lazada (bit.ly/3bcy3Rc).

COMFORTABLE, functional and adjustable Tatami Chairs

THERE’S a lot of grey matter on the loungewear horizon

B6 Monday, May 10, 2021

PhilHealth reiterates warning against health insurance fraud

#ImmunoStrongPH is about protecting the community through immunity social distancing. Dr. Ho also stressed the importance of investing in one’s health, saying, “The body remembers assaults done to it, and assaults can come in the form of bad food, smoking, lack of exercise. Bodies are vessels of investment.”

Overcoming cancer and other illnesses

“W

E take care of our health, so that we can also take care of the health of those we love. #ImmunoStrongPH is about protecting the community through immunity,” Organique, Inc. CEO and President Catherine Salimbangon said during the virtual launch of its #ImmunoStrongPH campaign with leading content creator and cancer survivor Wil Dasovich as ambassador. The virtual presser highlighted health as the top of mind concern among the millions of Filipinos today as the country continues to grapple with the COVID-19 pandemic and as the whole nation moves toward recovery.

The campaign also pays tribute to the country’s medical frontliners and community health workers for their dedication and hard work in protecting the Filipino people from illnesses through the distribution of 50,000 IMMUNOCARE KITS composed mainly of Organique Acai capsules to select hospitals and community center through the Department of Health.

Aside from Dasovich, who is tasked to spreading awareness on health and wellness, also present to discuss the

important relationship between immunity and lasting health were DOH Director IV of the Health Promotion Bureau Dr. Beverly Lorraine Ho; and featured COVID-19 survivor Lawrence Lee and hypertension survivor Marielle Vergara.

The #ImmunoStrongPH national awareness campaign was designed to generate awareness on the multitude of ways that Filipinos can protect themselves and their communities by strengthening their immune system. Chief of this is a healthy lifestyle, supported by clean eating and complemented by natural and organic superfoods such as the Organique Acai line of premium nutritional supplements. Being immunostrong can help Filipinos prevent the onset of diseases.

A collaboration between the private and public sectors, the #ImmunoStrongPH campaign complements the BIDA+ Solusyon campaign guidelines set by the DOH, which calls on the public to strictly adhere to health and safety protocols to prevent the continuous spread of COVID-19: by wearing face masks, washing hands, sanitizing frequently, and practicing

DURING the virtual launch, Dasovich narrated his experience as a colon cancer survivor at the tender age of 25 and how he was able to overcome it in a year’s time. He also spoke about the importance of keeping the immune system strong to be able to fight off diseases and recover quickly from them.

“Throughout my journey as a cancer survivor, I’ve always believed in the power of taking antioxidants and ingesting super foods like Acai berries.

The top Organique products like Acai freeze-dried capsules and Acai premium blend don’t only help you become healthier and live longer, but they also taste amazingly good,” Dasovich shared.

His sentiments were echoed

by COVID-19 survivor Lee and hypertension survivor Vergara.

“Life begins at 60. At my age when I have about 10 years more, I can still accomplish more and I want to live with strength, stamina, and energy.

Organique has been helping me through the years. You cannot take care of others without taking care of yourself,” Vergara said.

This was magnified by Lee who said, “Iisa lang ang buhay natin. Mas kampante ka kung alam mong mas healthy ka. Paano ako mag-p-provide sa family ko kung hindi ako healthy.

Physically, tayo nag-suffer pero mentally, family natin ang nag-suffer.”

Fishermen in a mining community harvest 12,000 kilos of bangus in four months

R

EPUBLIC Act 11535, declaring the position of a Cooperatives Development Officer (CDO) mandatory in all local government units (LGUs), was signed into law last April 9. This directs the LGUs – from the municipal, city, and provincial levels – to appoint its own CDO. In Taganito Mining Corp. (TMC), a CDO is a regular job description – someone in charge of identifying promising groups in different sectors in the communities to guide and assist them in organizing their own cooperatives.

Edelina E. Peraz is the Community Development Coordinator at TMC and she says “as a mining company, TMC is tasked by law to ensure social and economic development of the communities and we have long acknowledged the significance of a successful cooperative to achieve this.”

One of the organizations that Peraz has been assisting since its inception is the Gagmay’ng Mananagat sa Wangke (GAMAWA), a cooperative of small fishermen in barangay Wangke, in Claver, Surigao del Norte.

In April, GAMAWA recorded another big harvest – a total of 4,270 kilos of bangus that converted a total sale of P480,238.00 pesos. But their biggest record was last December when they harvested 7,928 kilos of bangus that sold for a whopping P889,292.00.

CDOs Urbiztondo (right) and Peraz (left) express that his success is TMC’s success as well.

The success of GAMAWA also showcases the effective leadership of its president, Felix Saranza.

“It is important to understand the interests of the individual member and of the whole group, to keep the organization intact, until everyone gets the taste of the fruits

S

TATE health insurer, Philippine Health Insurance Corporation (PhilHealth) strongly advises health care providers not to engage in unethical acts such as upcasing of claims.

The Agency received various reports relating to health care providers colluding with patients to declare minor respiratory symptoms as COVID-19 case for higher benefit reimbursements.

In view of the increase in reports of claims manipulation, state health insurer urges patients and their families to directly report such illegal acts to PhilHealth.

The Agency is likewise calling on the public to be vigilant of such acts and fully cooperate with PhilHealth by providing proofs to support the investigation.

“We call on the public to cooperate with us to immediately curtail these wrongdoings.

We should protect the National Health Insurance fund, because it is a public fund, it is your money, “PhilHealth President and Chief Executive Officer Dante A. Gierran said.

PhilHealth assures whistleblowers that complete confidentiality of reports as well as their protection will be given as provided by law.

To further strengthen its campaign

SeedWorks Philippines empowers farmers by countering impact of the influx of imported rice

S

EEDWORKS PH empowers farmers by countering impact of the influx of imported rice and helping them sell palay to millers at higher than market-average prices SeedWorks Philippines has started forging partnerships with rice traders and millers as part of its unrelenting commitment to further empower local rice farmers in the countryside.

The agricultural research firm is currently in the initial stage of a program linking its partner-rice farmers with different millers that are willing to buy US 88 palay (unhusked rice produce) Php 1-peso higher compared to average local price. This initiative is paving the way for the distribution of milled US 88 rice in standard 25-kilogram sacks to retailers, which in turn sell the commodity to end consumers.

“SeedWorks is linking farmers who seek higher price for their US 88 harvests with millers that prefer premium-quality rice,” said SeedWorks Philippines Brand Manager, Raj Nuñez. “Most millers find it a win-win deal because US 88 palay mills into long-grain rice, which is also perfectly soft when cooked— ideal for the meticulous rice consumers.”

Uplifting quality of lives

THE company also provides specially designed milled rice sacks to millers and traders. The commodity is branded as US 88 Premium Quality Rice (classified as hybrid Dinorado), which is fast gaining popularity in the market because of its highly appreciated qualities.

This strategy is aimed at further helping uplift the quality of lives of local rice farmers who are constantly facing challenges. US 88 has been proven to significantly increase yield up to about 15 metric tons per hectare (in optimal conditions) from the national

GAMAWA is a 21-strong fishermen’s cooperative in a mining community in Surigao del Norte. of everyone’s labor,” says Saranza.

“It is a democracy, I cannot decide until everyone involved agrees, so it can be very hard sometime, but in the end, it is all worth it because members actively participate when they know they have a say in decision making,” Saranza adds.

“We owe all our accomplishments to the support of TMC,” Saranza declares.

“In a cooperative where you have members with different personal quirks, different economic challenges and demands, different issues, you need a strong leader who is respected by everyone to keep things together, and Mr. Saranza is perfect for the role” explains another CDO, Judy B. Urbiztondo, Senior Community Development Specialist for TMC. Urbiztondo says the Co-op of GAMAWA has gone through a lot of challenges and sacrifices that taught the members valuable life lessons that got them to what they enjoy today – a strong cooperative and a sustainable livelihood.

But success, according to the TMC CDOs, means the cooperative to be able to grow the fish farm bigger to better

the lives of its 21 members for years and years to come.

Since 2017, TMC has inputted an accumulated fund of some P5.5 million pesos from the mining company’s Social Development Management Program to help GAMAWA build state-of-the-art fish cages in a 450-square meter area with 3 chambers that can handle 30,000 bangus fingerlings in a single cropping.

“Taganito Mining’s partnership with GAMAWA aims to prove the strength of a collaborative effort between the mining company and its communities toward a shared goal of empowering cooperatives,” explains Engr. Artemio E. Valeroso, Resident Mine Manager at TMC. Valeroso adds that another worthy take away from the success story of GAMAWA are the information from the members that help define how communities can actually take active part in the success of economies.

Taganito Mining is located in Claver, province of Surigao del Norte. Its area of operations is within the Surigao Mineral Reservation.

against unlawful acts, PhilHealth has earlier initiated collaborations with the National Bureau of Investigation to detect, deter, and prosecute fraud committed by hospitals and professionals.

The state health insurance chief stressed that he will not tolerate deceitful practices made by some providers in order to take advantage of the uncertainties brought about by the pandemic.

“PhilHealth shall not hesitate to use full force of the law to those caught engaging in these illegal practices,” he said.

The public may send their reports pertaining to these fraudulent acts through email at whistleblower@philhealth.gov.ph; actioncenter@philhealth.gov.ph; and opceo@ philhealth.gov.ph or by mail addressed to the Office of the Corporate Secretary, Room 1711, 17th Floor Citystate Centre, 709 Shaw Blvd., Pasig City.

average of just 4.08 metric tons (based on December 2020 data released by the Philippine Statistics Authority).

It comes at a time when Filipino rice farmers are also bearing the impact of the influx of imported rice with the Rice Tariffication Law (RTL) or the Republic Act 11203 that was enacted in the first quarter of 2019. RTL removes the limits on the quantity of imported rice entering the local market—a measure by the government to bring down rice grain prices in the country.

Promising move

“WE are supporting the country’s goal of self-sufficiency with high-yielding varieties that we have. At the same time, our company supports and empowers our farmers by helping them sell their harvests at a much better price,” explained by Carlos Saplala, President of SeedWorks Philippines.

This strategic program is currently rolling out in Mindanao, Central Luzon, and Bicol. SeedWorks Philippines will soon bring it to other regions.

So far, most retailers who have started selling US 88 milled rice are raving about the good reception of their customers to the rice variety. “Aside from its long grain and soft quality when cooked, an ideal feedback I get is that the cooked rice doesn’t easily spoil, which helps prevent food wastage that we all don’t want to happen in these times of crisis,” said Josiena Palacios, a rice retailer who is among the first ones to resell US 88 rice in Aglayan Public Market in Malaybalay City, Bukidnon. Another retailer, the owner of Harveys Store in Vintar, Valencia City still in Bukidnon said, US 88 is not hard to sell because of its impressive quality.

Santino’s Supreme Slice and Pizza Pedrico’s take centerstage at the U-Franchise discovery day

U

-FRANCHISE Group will be hosting its Virtual Franchise Discovery Day on May 11, 2021, at 2pm where top franchise opportunities will be presented including Jimini Food Group’s Santino's Supreme Slice and Pizza Pedrico’s. Interested franchisees are encouraged to sign up to attend the event for free.

Discovery days are considered a vital part of the franchise buying process.

These events allow interested franchisees to learn about the franchise they are about to purchase in-depth. Traditionally, Discovery days are held at the franchise company’s headquarters but due to the ongoing pandemic, the team decided to do it virtually instead, allowing more

participants to attend.

Jimini Foods Group will be featuring its award-winning brands Santino’s Supreme Slice which is currently the country’s largest and most successful pizza kiosk brand and the company’s Entrepreneur Magazine’s Franchise Hall of Famer, Pizza Pedrico’s, which is currently the largest pizza network with over 1,300 serving stations. The company’s very own Rollie Teologo will be presenting franchise packages.

Interested to invest? Feel free to reach out the Jimini Foods Group team prior to the U-Franchise event. You may reach them through these hotlines: Manila [02] 8442-9444; Cebu [032] 520-8811; Davao [082] 295-7943 or 0925-511-9444 for mobile users.

Marketing BusinessMirror

www.businessmirror.com.ph

Monday, May 10, 2021 B7

How do you say goodbye to a good friend?

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PR Matters

By Joy Lumawig-Buensalido

Brand & Business: Locally sends more immune-boosting natural juices to frontliners

MANILA, PHILIPPINES—In keeping with the Filipino Bayanihan spirit, NutriAsia has sent even more cans and tetra packs of Locally Blended Juice Drink to 23 hospitals and medical centers around Metro Manila.

Health-care workers from Chinese General Hospital, East Avenue Medical Center, FEU Hospital, Jose Reyes Memorial Medical Center, Lung Center of the Philippines, Manila Doctors Hospital, Manila Medical Center, Marikina Doctors Hospital, National Kidney and Transplant Institute, Ospital ng Maynila, Our Lady of Lourdes Hospital, Pasig City General Hospital, Pasig Doctors Medical Center, Philippine General Hospital, Philippine Children’s Medical Center, Philippine Heart Center, QC General Hospital, Rizal Medical

E all thought and hoped that the worst would be over after 2020. Nobody expected that there would be a bigger surge of Covid cases this year which would claim more lives, many of them dangerously creeping closer and closer to our own circles of friends and loved ones. Just this past week, we were stunned by successive news of friends in media passing on.

As I write this, we have just completed a two-week series of tributes, masses and novena prayers for our dear friend and colleague— Alfonso “Butch” Severino Raquel, Jr., who passed away on April 20, 2021, leaving his family and all of us and his various groups shocked and deeply saddened by his sudden departure, something none of us were prepared to face.

Because Butch had worked for so many companies and organizations and was a constant presence in all of the groups he had been an active part of, it seemed natural that these same people, everyone who had been a part of his life, would come together to quickly organize online get-togethers in the form of Viber messages, virtual tributes, masses, prayers and simply, sharing what his life was to us. And how he touched us. Someone commented that probably that became our way of coping with the grief. To be with the other friends of Butch, albeit virtually.

It’s amazing how many groups Butch had been a part of. First was his Ateneo alumni group— his classmates from elementary to college and his regular companions at all the Ateneo basketball games where he had apparently been a major supporter and regular court frontliner.

Then he had his daily “industry groups” composed of media and PR practitioners for each day of the week Monday to Friday, such as Marichu Villanueva, Tony Lopez, Ariel Ayala and the late Jun Icban. Aside from that, he had a core group of friends composed of the late journalist Neal Cruz, Claire de Leon Papa, and two other friends also from the industry who called themselves the “Saturday group” because every Saturday, they would meet at 11:30 a.m. for lunch and just eat, talk and have fun about everything.

Butch had also been a 5-termer president of the Public Relations Society of the Philippines (PRSP) and in the last 15 years, he had also joined our smaller group of seasoned (read: veteran) PR practitioners in the International Public Relations Association (Ipra) Phil-

Center, San Juan Medical Center, San Lazaro Hospital, St. Luke’s Medical Center, UERM, and United Doctors Medical Center all enjoyed Locally’s immune-boosting Pomelo, Mango, and Tamarind natural juices, which are sourced locally from Filipino farmers.

This follows Locally’s earlier donation of drinks to The Medical City in Ortigas, Pasig earlier this month.

“We continue our commitment to making sure even more of our brave and dedicated frontliners are fully protected against Covid-19 through delicious Locally juice drinks that also boost their immunity and natural defenses with vitamin C,” said Gretchen King, category manager for Beverages at NutriAsia.

The fight against the Covid-19 virus isn’t over. With the invisible enemy still out there, it is still best to arm ourselves with the immunity boost that vitamin C provides.

Since the start of the pandemic in 2020, Locally has handed out immuno-boosting juices to various frontliners like medical personnel, local government units, mobile markets, military staff, mobile kitchens, and many more. According to NutriAsia, “Together, we can

Butch and Claire de Leon Papa on a Singapore trip

we will always remember Butch: a friend for all seasons

ippine Chapter to which I had invited him. We would have monthly lunch meetings. For work, he had also been part of two of the country’s top broadcast networks—as news director for ABS-CBN, and as corporate communications head at GMA 7. His career was stellar. But it was his love for friends and family that put him in a pinnacle only he could occupy.

Butch was a part of so many groups and yet he also cared extremely well for his own family starting with his mom, his sisters and his son and grandchild.

In short and with no exaggeration, Butch was literally someone who spent his life contributing a good part of himself to each of his groups.

A consistent description of Butch was this: He loved food, he loved friends, and he spoiled his family members. Plus we all looked forward to his early morning texts that would wake us up at exactly 5 a.m. to give us the daily readings, scriptures and Jesuit reflections. If I were to summarize Butch in 5 F’s, it would be: Food, Friends, Family, Fun and Faith.

What floored me during all the tributes to him was my realization that Butch was a good and thoughtful friend/brother/colleague/boss/ person to everyone, whether it was a sister, a niece or nephew, a staff of his whom he mentored, a high school classmate, a former co-

all help each other out in healing and rebuilding our nation.”

Brand & Business: Finance for all: GCash helps trike drivers and vendors to cope with the pandemic

MANILA, PHILIPPINES—Tricycle drivers and market vendors in Pasig City who have been searching for a safe and secure way to sustain their businesses while following safety protocols have found a reliable way to receive payments from their customers—GCash QR. A safe and effective alternative to send/receive money without having to share one’s mobile number, GCash QR is a solution introduced by GCash as part of its partnership with AMTODA (Antipolo Market Tricycle Operators and Drivers Association) and ASCLP TODA, and with vendors at the Pasig City Mega Market.

“At the heart of this program is financial inclusion. We envision enabling micro and small businesses with the digital finance platform so they can enjoy its benefits at a time when they need it most. Many of them are frontliners too. We should also focus on helping them by providing them with tools so they can

at one Ipra lunch meeting where the theme was “hats”

worker and even the hard-nosed media whom he dealt with regularly; they all considered him a close, generous and reliable friend who would go out of his way to do something for them.

And there I was, thinking that Butch and I had a special connection. That he always thoughtfully made me laugh with his wise cracks and comments about people we knew and I assumed he meant it only for me! But after hearing from his thousand and more other friends, I realized that it was a gift which Butch evenly applied and shared with everyone, not only to me. He was everybody’s good friend who willingly linked us with each other.

Claire de Leon Papa, his Saturday group core member, one of his longest (and I believe, the closest female friend of Butch) who was practically with him in all his other industry and PR groups, had this most endearing story to share: “Our core group was like a small, very tight family. Age was never an issue with us because whenever we got together, it was always pure fun.

We had a routine. I was always the organizer and I would decide where we would go, who will be invited, and most importantly, what food to order. That was always a top concern—the food! Food was an essential part of our friendship but actually it was being together that was far more important. Food was

continue growing their businesses and serving their customers during the pandemic,” says Martha Sazon, president and CEO of GCash.

According to Restituto Bayote, president of AMTODA, which has over 500 members, they have been encouraging members to use QR on Demand as a contactless way to safely and securely receive payment from their passengers. They have been working closely with GCash to orient drivers, especially the elderly ones, of its beneficial features.

To this, Antipolo TODA driver Zalde Guiruela agrees. “Mas magandang paggamit ng GCash kasi kailangan nating umiwas sa pagkahawaan ngayong pandemya.Kaya mas komportable gumamit ng GCash para makaiwas tayo sa kumakalat na virus.”

Having a cashless payment option like GCash QR also helped Ronnie Fabian, a textile store owner at the Pasig City Mega Market, attract customers outside of the public market. “Nakakatulong siya, lalo na for transactions outside of the public market. Pag may mga tumatawag sa ‘kin para magpadeliver, usually hindi kami tumatanggap ng COD. Dahil sa GCash, ita-transfer na lang nila sa GCash ko yung payment.”

just the reason to get together. We could be in a carinderia in Binondo, a fast food place in Makati or in an elegant restaurant of a hotel, it did not matter. Many times, the places we ate in would already turn off their air conditioning and would put up the chairs on the tables, but we would still be there talking endlessly.

Butch trusted my taste in dessert. Meals were not complete without desserts and that was the first thing he would look at in the menu because he knew dessert is a must for me. Even if he was diabetic he always made sure we had dessert. He loved Mario’s. He introduced Mario’s gambas to me and he also taught me that paella is best matched with callos and bacalao and that their Vigan longganisa is best if it’s a bit sunog. In Alba’s he loved their paella and cochinillo even if it was not good for him.

He taught me how to appreciate Annabel’s Goliath burger. As an organizer of our get-togethers he taught me the value of taking note of one’s health condition. Like Splenda is important for diabetics like him. I had accompanied him several times to the emergency room when he didn’t feel well. We were quite worried when he decided he would undergo a kidney transplant. Thank God he found a match. And he lasted for several years. We were privileged to have his company for all those years.

Entrepreneurs like Coleen Lopez, who has an RTW stall and owns an online shop called Coleen’s Businezz, is a long-time GCash user who is looking forward to using the Digital QR feature because it’s a faster and more secure way to accept payment from customers. “Hassle free ang app na yan. Minsan may customer ako na kinulang yung dala niyang cash. Pero merong laman yung GCash nya. Yun na lang pinang-bayad niya instead na mag-withdraw pa siya sa ATM.” “Since last year we have been pushing for cashless transactions among vendors and trike drivers to promote the health of all, para mawala yung physical transfer [ng virus]. It’s also a secure way to accept payment and to avoid circulation of counterfeit bills. It’s about time our vendors and trike drivers adapt to this new business model, they need to enjoy the benefits of e-wallets and contactless payment,” added Pasig City Councilor Rhichie Gerard Brown.

Having empowered by the GCash platform, these owners of small businesses and drivers of TODA can further enjoy the benefits of using the app with its financial services products such as savings, investment, insurance and credit.

Our last messages to each other while he was in the ICU was about food. I gave him a “prescription” and it was all the decadent food he will never be able to eat while in the ICU. Well, now he must be having a feast that he deserves with all our other dear departed friends.

A Feast fit for a very good friend whom we shall never forget.”

So how do we say goodbye to a good friend? We don’t. We simply remember him for all the happy moments he gave us. Personally, I will review and savor our thread of texts dating as far back as 2018 (I don’t erase my texts). And I will smile at his funny and witty oneliners.

No goodbyes, Butch Raquel. We have all learned and thank you for your basic secrets of “food, friendship, family, fun and faith.”

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 communications professionals around the world. Joy LumawigBuensalido is the president and CEO of Buensalido & Associates Public Relations.

PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.

Since most of these palengke vendors and TODA drivers are among the financially underserved, empowering them to do their business through the app just like any other big merchant will help them cope up during these trying times.

“Our partner MSMEs and drivers are at the very soul of our existence as a mobile wallet. More than being a lifestyle brand, GCash is committed to working with every sector in society in order to tailor digital financial solutions relevant to the situation they may be in. With our expanding effort to bring GCash QR to MSMEs, we bring financial services closer to those who have no traditional access to these products.

Truly this is a manifestation of our vision of for finance for all,” Sazon added.

To date of writing, GCash has onboarded over 1,200 TODA drivers and over 100 palengke vendors. The company envisions onboarding more of these businesses to provide better financial services access to all sectors in the society. Currently, TODA drivers around Antipolo area accept GCash as a payment method.

Paying through GCash in palengkes is currently available in Farmers market and Pasig Mega.

Glimmer of hope for rower Nievarez

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By Josef Ramos

RIS NIEVAREZ was cut off from the Tokyo qualifier on Friday but still has a chance to make the Olympics under the World Rowing Federation’s (FISA) qualification system that puts premium on the status of national Olympic committees (NOCs).

Based on the Olympic system, “the continental qualification regattas are open only to NOCs that have qualified in only one event or have not qualified in any event during the qualification.”

The system furthered: “The NOC may qualify a maximum of one boat. If two boats from an NOC meet the qualification criteria at Continental Qualification Regattas, then the highest-ranking boat qualifies.

“In the case that two or more boats have an equal ranking other than first place, the NOC shall select one of these boats to qualify for the Games,” the system also stated.

“I was enlightened because we focused too much on the competition. Our secretarygeneral, Jercyl Lerin, clarified to us that Cris has a chance,” head coach Edgardo Maerina said. “For now, we have to wait for the announcement of the FISA. It is a good development for everybody.”

Maerina said the FISA would make the announcement in two to three weeks time.

Nievarez, 21, finished ninth in the men’s singles sculls semifinals on Friday to miss the quota—top five rowers—for Olympic qualification.

Each country, Maerina said, could only field one participant in each of the four events in Tokyo—men and women’s singles and doubles sculls.

“If they have two or three qualified athletes [from the regattas], they must choose only one for the Olympics,” he said.

Japan swept the four-event qualifying races but as host, it could be privileged to enter two rowers, Maerina said.

Iran, Kazakhstan, India, Uzbekistan and Vietnam earned at least two berths each for the Olympics while Chinese-Taipei got one at the World Rowing Asia and Oceania Olympic and Paralympic Qualification Regatta at the Sea Forest Waterway in Tokyo Bay. Maerina, Nievarez and teammates Melcah Caballero, Roque Abala, Zuriel Sumintac and Joanie Delgaco arrived from Japan on Saturday night and are completing a 10-day quarantine in a Pasay City hotel.

Sports

Coo targets Olympic BMX qualification in Colombia

BusinessMirror

B8

| Monday, May 10, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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THE rowers arrive at the Ninoy Aquino International Airport Terminal 3 on Sunday night. They are (from left) head coach Ed Maerina, Melcah Caballero, Roque Abala, Zuriel Sumintac (sitting), Joanie Delgaco and Cris Nievarez.

SENATOR ’TOL’:

JAB ATHLETES

S

EN. Francis “Tol” Tolentino on Sunday appealed to Inter-Agency Task Force on the Management of Emerging Infectious Diseases (IATF) to include Filipino athletes as essential workers in the government’s priority list to be vaccinated against the deadly Covid-19 virus.

Tolentino made the remarks as both amateur and professional athletes remain excluded in the “A4 Priority” of the government in its ongoing nationwide vaccine rollout.

The senator made the appeal as the Tokyo Olympics are just a little over two months away from July 23 to August 8 and athletes for the 31st Hanoi Southeast Asian Games have yet to

train collectively. The Hanoi SEA Games are set from November 21 to December 3.

“The athletes should also be prioritized as sports development should be part of the post pandemic recovery process,” Tolentino said. “The physical well-being of our athletes is reflective of the health of the nation.”

Seven Filipinos—weightlifter Hidilyn Diaz, gymnast Carlos Yulo, pole vaulter EJ Obiena and boxers Eumir Felix Marcial, Nesthy Petecio, Carlo Paalam and Irish Magno—have so far qualified for Tokyo.

Marcial already got two doses of the vaccine in Las Vegas and Diaz her first in Malaysia.

A total of 626 athletes, meanwhile, were

identified for Team Philippines to the Hanoi Sea Games.

Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino has earlier announced that ports tycoon Enrique Razon pledged Moderna vaccines for the Philippine Olympic delegation, including administrative staff and media.

“The vaccines are in transit [for Olympicsbound athletes], but the problem is that all of our Olympic-bound athletes are training abroad,” Abraham Tolentino said. “We will try to contact our counterparts if it is possible to include our athletes in their countries’ vaccination program.”

TOLENTINO

Yulo and Obiena has been training in Japan and Italy, respectively, for more than a year now while the boxers are in Thailand.

The POC president also allotted a $40,000 grant from the Olympic Council of Asia for the inoculation of the SEA Games-bound athletes.

The senator also stressed that professional athletes in the Philippine Basketball Association and other professional leagues—regardless of sports—should also be included in the A4 Priority of the IATF. The IATF earlier approved PBA’s request to hold full practices and scrimmages in areas placed under General Community Quarantine (GCQ) or Moderate GCQ.

ATRICK COO tries to become the youngest member on Team Philippines when he vies for a slot to Tokyo in the International Cycling Union (UCI) World Cup Round 4 Olympic qualifier in Bogota on May 30.

Coo, 19, will rendezvous in the Colombian capital with PhilCycling coaches Ednalyn Hualda and Frederick Farr on Tuesday (May 11) because all participants in the Olympic qualifier need to complete 14 days in quarantine.

“I am very much motivated and excited to go after that slot [to the Tokyo Olympics],” said the 2019 Asian BMX juniors champion Coo, whose dad Benjamin hails from Iloilo and his mom Romalyn from Cagayan de Oro City.

To qualify for Tokyo, Coo has to finish at least in fourth place in Colombia.

Coo will be racing as the lone Philippine representative in Colombia after London 2012 Olympian Daniel Caluag couldn’t prepare for the qualifier because of his job as a frontliner nurse in Kentucky.

“When Danny won, I was motivated to race for the Philippines,” said Coo, referring to Caluag winning the country’s only gold medal in the Incheon 2014 Asian Games that earned him the Athlete of the Year award from the Philippine Sportswriters Association. Coo was only 12 then.

“We are hoping for Patrick to qualify for the Tokyo Olympics not only because of his potentials to become a champion, but because of his passion and movitation—he trains endlessly,” said Philippine Olympic Committee president Rep. Abraham “Bambol” Tolentino, who also heads PhilCycling.

The Philippine Sports Commission is fully supporting Coo’s campaign with chairman William Ramirez also hoping the BMX athlete will join weightlifter Hidilyn Diaz, gymnast Carlos Yulo, pole vaulter EJ Obiena and boxers Eumir Felix Marcial, Nesthy Petecio, Carlo Paalam and Irish Magno in the July 23 to August 8 Olympics.

As an eight-year-old, Coo, of Bellflower, California, won his first state championship. He went on to snatch four national age-group, 12 state and three western division titles in the US. “I train hard all the time, but I am expecting tough opponents in Colombia,” said Coo, who after taking part in a 2019 Tokyo Olympics test event took a side trip for a visit to the country.

Filipino-made new-gen eSports app hits market LASCO

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ALARO has entered the eSports industry as a new-generation digital platform created

by Filipinos who wanted to empower the Filipino gaming community.

Kalaro is a super app that serves as a single portal to a wide range of virtual features and services not only for gamers but also for content creators, game strategists, tournament organizers and entrepreneurs.

It is the first Filipino gaming platform that offers tournament management, social media, video hub, among others.

“The good news is that Kalaro is now here, a new-generation eSports digital platform created to empower Filipino players,” Kalaro founder and CEO Jun Lasco said.

Kalaro has an ongoing promotion where up to five million Kalaro Gems will be given to

lucky app users. Kalaro Gem is an in-app currency for doing online purchase of merchandise, tournament and events registration, gifting and supporting gamers in the platform Enthusiasts could sign up with Kalaro at www.kalaro.net. Details about Kalaro could also be obtained at www.facebook.com/ OfficialKalaro, www.twitter.com/OfficialKalaro, www.instagram.com/OfficialKalaro and www. youtube.com/c/kalaro.

“The people behind Kalaro understands the potential of the eSports industry and how gamers and other stakeholders could actually benefit and level up the quality of their lives when the whole community works and plays together,” Lasco added.

Kalaro also aims to be a major player in the eSports community, which, according to GroupM, a global media investment company, was valued at $151.55 billion on the global stage in 2019 and grew by 20 percent to $179.7 billion in 2020 despite the Covid-19 pandemic.

There is an estimated 495 million global audience for eSports or organized forms of competitive game played in tournaments and leagues.

In the Philippines alone, there are already 43 million eSports enthusiasts.

Hamilton’s 100 RICK OLIVARES | bleachersbrew@gmail.com

BLEACHERS’ BREW I REMEMBER when Roger Federer surpassed Pete Sampras in terms of Grand Slam wins. I wasn’t in total denial. I mean how could I feel anything negative towards the Swiss tennis sensation? He was clearly a gentleman who played the game with lots of skill and equal amounts of class.

Furthermore, he steered clear of controversy.

And I figure, milestones are meant to be matched and broken, right?

I remember when Kobe Bryant and then later, LeBron James, surpassed Michael Jordan in career points. I cannot argue that, “Yeah, Mike gained third place behind Kareem Abdul-Jabbar and Wilt Chamberlain despite playing fewer seasons and games due to injury and retirement.” After all, injuries and retirement are part of the game.

Besides, I like Kobe and LeBron too. Just to a lesser degree than Mike.

Now this past Saturday, Formula 1 driver Lewis Hamilton took his 100th pole position at the Spanish Grand Prix at the Circuit de Barcelona-Catalunya. He achieved it in style as

well as he held off competitor Max Verstappen .036 of a second.

It is a most satisfying victory for the number of wins he has and to have held off the BelgianDutch driver who has been a pest in his side.

And Hamilton has left my favorite F1 driver Michael Schumacher’s 68 pole wins in the dust.

When Schumi broke Ayrton Senna’s 65 pole finishes, I thought, now that feat is going to be unbreakable.

Oops. I shouldn’t have said that. And that has my mind racing back.

It has been a while since I thought of the Brazilian Senna who was one of two drivers killed during the 1994 San Marino Grand Prix. That was May 1, 1994—nearly 30 years ago.

That was heartbreaking for many reasons because aside from Senna, Austrian driver Roland Ratzenberger was killed as well right before the latter.

Senna was killed instantly when he failed to negotiate a turn and slammed into

PATRICK COO is motivated to see action in Tokyo. an unprotected concrete barrier. When he was pulled out from his Williams-Rennault FW16, he was found to have a flag of Austria on his person. Senna had planned on paying tribute to Ratzenberger when he crossed the finish line.

Except, he never got to do it.

Nevertheless.... I remember at the height of MJ’s career as he was breaking one record after another, it was asked, “What ghosts is Jordan chasing on his way to the Hall of Fame?”

I guess, the same can be asked of Hamilton... what ghosts is he in pursuit of?

In all likelihood, he will end up as the GOAT of F1 racing. His 100 wins are 32 ahead of Schumacher. The only other active driver with more than 50 wins is German driver Sebastian Vettel and I too wonder if his best days as a F1 driver are behind him.

Vettel finished 13th in the Spanish Grand Prix (for Aston Martin).

I won’t say that it would be hard for other drivers to reach the century mark in terms of wins because we all know that just when you think it won’t happen...it will happen.

Having watched Hamilton these past seven years for Mercedes has been incredible.

I should count myself lucky to have lived to see Muhammad Ali, Pele, Floyd Mayweather, Michael Jordan, Tiger Woods, Lionel Messi, Cristiano Ronaldo, Tom Brady, Roger Federer, and others perform amazing feats in fields of athletic battle.

And Lewis Hamilton is in the same sentence as those other GOATs.