BusinessMirror May 19, 2021

Duterte signs DITO franchise; good for 25 years

By Samuel P. Medenilla

@sam_medenilla

N

E W te lecom mu n ic at ion player DITO Telecommunity will now be able to operate in the next two decades.

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This after President Duterte finally signed Republic Act No. 11537, which extended the franchise to Mindanao Islamic Telephone Company Inc., now known as DITO, by another 25 years.

“This franchise shall be extended

in effect, for a period of 25 years from its expiration on April 24, 2023, unless sooner revoked or cancelled,” Duterte said in RA 11537.

“This franchise shall be deemed ipso facto revoked in the event the grantee fails to operate continuously

for two years,” he added.

For the duration of the franchise, DITO will have to construct, establish, install, maintain, and operate wireless and telecommunications.

The National Telecommunications Commission (NTC) is authorized to

revoke or suspend the franchise after due process.

Duterte signed R A 11537 on Tuesday following the rollout of DITO’s services in Metro Manila and 46 other areas the day before.

R A 11537 will take effect 15

days after its publication in the Official Gazette or in a newspaper of general circulation.

DITO is targeting over a million subscribers before the end of the year. Currently, it has around 500,000 subscribers.

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Wednesday, May 19, 2021 Vol. 16 No. 217

DBCC CUTS ’21 GROWTH PROJECTION TO 6 TO 7% n

P25.00 nationwide | 2 sections 18 pages | 7 days a week

FAILING TO MAKE THE CUT, EXPORTERS LOSE $250M YEARLY

By Cai U. Ordinario @caiordinario

T

Motorists pass through the Nlex Balintawak Tollway. Starting Tuesday, May 18, toll was raised for motorists passing through the North Luzon Expressway (Nlex).

In a statement, Nlex Corp., which manages the highway, said it will enforce a “nominal” 2-3 percent increase in toll. NONOY LACZA

By Bernadette D. Nicolas

T

@BNicolasBM

HE government’s economic team slashed its growth projection for the Philippine economy this year to 6 to 7 percent from its previous forecast range of 6.5 to 7.5 percent, given the impact of reimposed strict lockdown measures in the National Capital Region Plus (NCR Plus) where Covid-19 cases surged.

The Cabinet-level Development Budget Coordination Committee (DBCC) also downgraded its growth projection for the country’s GDP next year to 7 to 9 percent, down from its previous forecast of 8 to 10 percent in DBCC’s

PESO exchange rates

December meeting.

Budget Secretary and DBCC Chair Wendel E. Avisado said the lowering of GDP growth projection for this year was done “in view of See “DBCC,” A2

DOJ chief says Maynilad, MWSS signing new accord

By Joel R. San Juan

M

@jrsanjuan1573

AYNILAD Water Services Inc. (Maynilad) and the Metropolitan Waterworks and Sewerage System (MWSS) were expected to sign a new concession agreement on Tuesday (May 18).

This was disclosed by Justice Secretar y Menardo Guevarra, who headed t he Depar tment of Justice (DOJ) panel that reviewed and proposed revisions on the existing concession agreements of the government with Maynilad and the other private concessionaire, Manila Water Company Inc. (MWCI), that were deemed disadvantageous to the government.

“Just a bit of good news. The MWSS and Maynilad Water Services Inc. are ready to sign their revised water concession agreement today [May 18],” Guevarra told reporters.

He explained that the new water deal with Maynilad “contains essentially the same terms” as the signed revised concession agreement between the MWSS and the MWCI. L i ke t he M WC I, Gueva r ra said Maynilad will also sign an official waiver of its arbitral award to terminate all related proceedings and a tariff freeze until December 31, 2022. “ T he onerous prov isions [that is non-interference clause,

HE inability of the c o u nt r y ’s e x p o r t ers to meet health, safety and marketing standards cost them some $249.7 million in lost opportunities annually, according to a study by a former Dean of the University of the Philippines School of Economics (UPSE).

In a presentation on the first day of the National Food Security Summit on Tuesday, former UPSE Dean Ramon L. Clarete said exp or te r s m i s s e d e a r n i n g $148.8 million from American buyers alone.

C l a rete s a id muc h of these foregone opportunities represent export earnings from products that were able to reach the destination markets, but were refused entry due to health and other violations.

“We estimated that the cou nt r y cou ld h ave e xpor ted nearly $250 million more if not for the problems of our readiness to export our products,” Clarete said.

“We were not able to realize those potentials because of some of these problems.

Number 1, some of the factors e x pla ining t hat include our lack of readiness in meeting the food safety and marketing standards of our destination markets.

There are many problems in exporting but this is really very cruel,” he explained.

In the US market, Clarete

said, the most common violations are adulteration and misbranding. Adulteration is when a product deteriorates in transit or in storage, making it unhealthy for purchase.

Clarete said that in the European Union, af latoxin contamination is the most common reason behind the refusal of entr y for Philippine products. He noted that corn and corn products are prone to af latoxin contamination.

Other reasons are defective packaging and inadequate temperature control while in transit or storage, he added.

“If we could just focus on meeting those requirements for SPS [sanitar y phytosanitary], NTBs [nontariff barriers], we would have contributed so much in realizing the potential for exports in food and agriculture products,” Clarete said.

T he s e c h a l le n ge s a re greater than the comparative advantage of the Philippines in some agriculture products. This is measured using the revealed comparative advantage (RCA).

Based on his estimates, the RC A of the countr y’s Top 20 agriculture exports reached as high as 248.18.

A mong its top 21 to 40 products, Clarete said the RC A reached as high as 4,381.1, which is the comparative advantage of the Philippines in the export of crabs worldwide.

See “Exporters,” A2

See “Maynilad,” A2

n US 47.8220 n japan 0.4380 n UK 67.6299 n HK 6.1575 n CHINA 7.4265 n singapore 35.8110 n australia 37.1481 n EU 58.1324 n SAUDI arabia 12.7518

Source: BSP (18 May 2021)

A2

BusinessMirror

Wednesday, May 19, 2021

Neda wants jabs focused on high Covid areas to hasten recovery

of the Philippine economy.

“It depends on the speed of vaccination and where we target [such as] in areas of highest risk areas of high Covid cases. That is what we are going to propose so we achieve an earlier opening of the economy,” Chua said.

Chua said other factors that will help hasten the recovery include the decision of the government to

allow greater mobility under the Enhanced Community Quarantine (ECQ) and Modified ECQ (MECQ) it imposed in March.

He said this is better than last year’s decision to close down 70 percent of the economy. The decision plunged the Philippines in a deep recession which was particularly felt in the second quarter when GDP fell 16.9 percent, the worst since the second World War. Chua also said the government has employed digital tools to improve contact tracing. He admitted that this was one of the weaknesses in the government’s pandemic response last year.

Mea nwh i le, C hu a sa id t h at wh i le sporad ic loc kdow ns a re still to be expected, these will be well-targeted and focused only on specific areas in order to prevent hurting the economy. “ Wit h t he vacc i nat ion accelerated , we do not see t he need for a big a rea loc kdow n or qu a r a nt i ne so we w i l l proceed u nder

t h at d i rec t ion,” C hu a sa id.

Chua recalled that in the first quarter performance briefing, Neda estimated that posting a 6-percent growth, the low-end of the target, would require the economy to grow an average of 10 percent in the next three quarters.

Last week, the Philippine Statistics Authority (PSA) reported that GDP contracted 4.2 percent in the first quarter of the year, marking the economy’s fifth consecutive quarter of decline.

Data showed the performance economy in the January to March period was an improvement from the contraction of 8.3 percent in the fourth quarter of 2020.

However, the first quarter GDP growth was worse than the 0.7-percent contraction recorded in the same period last year.

The contraction this year is the worst recorded first quarter performance since 1985 when the economy contracted 10.5 percent in the January to March period.

With the violations and despite the comparative advantage, Clarete said, the tradability of the agriculture sector has shrunk in the past 60 years to only 8 percent in 2019 from 64 percent in 1960.

Starting in 2000, the share of

agriculture to exports declined to single digit at 5.2 percent.

Further, the share of agriculture exports to Gross Value Added (GVA) of the sector shrank to only 1.6 percent in 2019 from 33 percent in 1960.

The share of food exports to agriculture GVA also reached the singledigit level in 2000 at 2.2 percent.

Clarete also said the share of agriculture imports to agriculture GVA declined to 1.9 percent in 2019 from 6 percent in 1960.

By Cai U. Ordinario

T

@caiordinario

HE National Economic and Development Authority (Neda) said the speed of vaccinations and the distribution of vaccines in areas with high Covid-19 numbers would help the economy recover faster.

Socioeconomic Planning Secretar y K arl Kendrick T. Chua told reporters in a briefing on Tuesday that Neda intends to propose to target areas with high Covid-19 cases for vaccination to boost economic growth.

By inoculating more Filipinos in these areas, Chua said consumers will have greater confidence to spend.

Consumption is a key economic driver

Exporters. . .

Continued from A1

www.businessmirror.com.ph

PHL supply chain, logistics far from blockchain use Continued from A10

S o f a r, he noted t h at on ly warehouse management and demand planning, among others, are the logistics processes that are “somewhat digitized.”

Other aspects of the supply chain that also need digitalization include inventor y management, f leet management, transportation operations, order management and customer ser vice, the SCM AP official noted.

“I think we are two years or three years, or maybe five years behind our regional counterparts t h at a re way more d ig it i zed ,” Curay said.

Apart from blockchain technology, Curay said using artificial intelligence (A I) will also bode well for the industr y.

Usi ng A I c a n a id loc a l pl ayers i n m a k i ng a more acc u rate dem a nd forec a st i n a shor t pe r iod , Cu ray e x pl a i ned. “ You c a n ac t u a l ly pred ic t wh at wou ld be t he dem a nd...a nd you c a n order wh at you need ,” he sa id.

E-commerce sector

DBCC. . .

Continued from A1

the emergence of new Covid-19 variants and the reimposition of Enhanced Community Quarantine (ECQ ) in the National Capital Region (NCR) Plus area during the second quarter of the year.”

Apart from Metro Manila, NCR Plus includes Laguna, Bulacan, Rizal, and Cavite.

Despite this, Avisado said they expect the country’s GDP to go back to prepandemic level next year.

“Further, GDP is projected to return to pre-Covid-19 levels by growing at 7 to 9 percent in 2022, and will continue to grow by 6 to 7 percent in 2023 and 2024,” he said.

To support the country’s economic recovery, the DBCC is backing three measures that will help arrest the spread of the virus and help the poor cope with the impact of quarantines.

These include a P170-billion “supplemental social support” for the hardest hit by the pandemic and to fund improved health protocols.

“A version of this proposal is currently being deliberated in the Lower House, and is contingent on raising additional savings and revenues to remain deficit neutral,” Avisado said.

On top of this, the DBCC also stressed the need for intensified implementation of the prevent, detect, isolate, treat, and recover (PDITR) strategy and the full vaccination of residents in areas with the highest risk, such as the NCR Plus, Pampanga, Cebu City, and Davao City.

“By targeting these areas, Covid-19 transmission can be dramatically reduced throughout the countr y,” he said.

Moreover, the economic team also said reducing the gap from

Maynilad. . .

Continued from A1

Cur ay sa id e - com merce awa its many oppor tunities for the sup ply c h a i n a nd log ist ics ser v ice prov iders, u rg i ng t hem to foc u s on t h is seg ment.

T he re h a s b e e n a n i nc re a s e d demand for on line shopping detection to isolation of Covid-19 positive cases from 7 to 5 days, such as the use of digitally assisted contact tracing, could potentially reduce cases by around 51 percent.

Fiscal deficit

The DBCC also adjusted upwards its projection for the country’s def ic it-to - GDP rat io t his yea r to 9.4 percent from 8.9 percent previously as it now expects disbursements to reach P4.74 trillion, higher than its previous estimate of P4.66 trillion.

The rise in disbursements for this year is mainly due to funding requirements to support Bayanihan II, including the procurement of Covid-19 vaccines, among others.

Revenue collection for this year is still expected to hit P2.88 trillion.

Finance Secretar y Carlos G. Dominguez III expressed concern on the projected rise in the country’s fiscal deficit.

“It’s really getting to be very concerning so any additional stimulus program, such as that was mentioned of P170 billion, has to be revenue-neutral,” he said.

To fund this supplemental social support, the finance chief said the fund can be sourced from savings in the 2020 national budget and additional dividend remittances from government-owned and -controlled corporations (GOCCs).

“We will be meeting again in the next few days to determine the sources of these funds,” he said.

For 2022, the government expects the deficit-to-GDP ratio to reach 7.7 percent, up from its old assumption of 7.3 percent.

The previous revenue assumption of P3.3 trillion for 2022 has been cut by DBCC to P3.29 trillion.

It still expects disbursements to hit P4.95 trillion next year.

For 2023 and 2024, the country’s

i n t he p a nd e m i c , he s a i d , not i n g t h at p u rc h a s e s o f f o o d a nd p e r s o n a l c a re it e m s a re “ f a s t g ro w i n g.”

Citing reports, Curay said revenues of the e-commerce market are expected to grow to $4.42 million this year from just $953 million in 2019, noting that the l argest seg ment is electronics and media.

“In fact, what I will always say: A mazon, or Lazada or A libaba, the great big e-commerce giants, they are not a retail company.

T hey are not an on l ine store.

T hey a re a log ist ics compa ny.

Just imagine how hard [it is] to deliver all that stuff,” he shared.

According to a study by financial ser vice company Visa, more Filipinos have been making purchases via e-commerce platforms for the first time.

One of t wo respondents or 52 percent are shopping online through applications and websites for the first time, the survey noted. Meanwhile, 43 percent purchased via social media channels for the first time.

E a rl ier t h i s yea r, t he De pa r t m e nt o f Tr a d e a n d I n d u s t r y s a i d it a i m s t o b o o s t t he c o n t r i b ut i o n o f t h e e - c o m m e rc e industr y to P1.2 tr i l lion by 2 0 2 2 , w h i c h i s e q u i v a l e nt t o 5 . 5 p e r c e nt o f t h e c o u nt r y ’s g ro s s d o me s t i c p ro du c t .

fiscal deficit is expected to revert to pre-Covid levels with a projected rate of 6.4 percent of GDP in 2023 and 5.4 percent of GDP in 2024 as the DBCC continues adopting a fiscal consolidation strateg y.

As for the country’s debt-to-GDP ratio, Dominguez said they still project that to be below 60 percent until year-end.

Inflation, oil, forex

Meanwhile, the DBCC also kept its inflation target of 2 to 4 percent this year until 2024.

However, it estimates an increase in the price of Dubai crude oil per barrel to USD 50 to 70 over the medium term following the rise in global demand coupled with production cuts. This is up from their previous estimate of USD 35 to 50 dollar per barrel for 2021 and 2022.

The DBCC kept its foreign exchange rate assumptions of P48 to P53 against the US dollar for 2021 to 2024.

Due to recent positive trends in global trade, the DBCC upgraded its growth projections for goods imports this year to 12 percent, from only 8 percent previously. Next year, it is expected to grow by 10 percent, higher than previous assumption of 8 percent.

Goods exports are projected to rise by 8 percent this year from 5 percent previously. For 2022, it is seen to expand by 6 percent from only 5 percent in DBCC’s December meeting.

For 2023 and 2024, goods imports and exports are projected to grow by 6 percent and 8 percent, respectively.

Further, growth forecast for services exports is maintained at 6 percent for 2021 to 2024. On the other hand, services exports are projected to grow by 7 percent in 2021 and by 8 percent for 2022 to 2024.

charging corporate income tax to consumers, etc] have been removed, contingent liabilities of the government have been substantially reduced, and a framework for better service to the public has been put in place,” Guevarra pointed out.

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

President Duterte pushed for the signing of ne w w ater concession ag reements w it h M WCI

and MWSS after discovering onerous provisions in the existing contracts, and after the Permanent Court of Arbitration (PCA) in Singapore directed the Philippine government to pay P7.4 billion to Manila Water and P3.4 billion to Maynilad for the losses they suffered from unenforced water rate hike.

With the signing of new concession agreements with Manila Water and Maynilad, both of which waived their combined P11 billion in awards, Guevarra said : “The arbitral award cannot be enforced by execution or by any judicial process anywhere.”

BusinessMirror

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Wednesday, May 19, 2021 A3

TORRE LORENZO DEVELOPMENT CORPORATION

Keeping the faith and focus on its development plans

TORRE Lorenzo Malate

T

By Leony R. Garcia

HE COVID-19 pandemic has had a great impact on the country.

One sector that was badly hit by the pandemic was the construction industry as well as infrastructure and real estate projects. These have reportedly experienced setbacks due to slowing done if not total stoppage of work projects.

However, Tomas Lorenzo, President and Chief Executive Officer of Torre Lorenzo Development Corporation (TLDC), sees a lot of opportunities, milestones included, amidst this pandemic.

With many ongoing projects, Lorenzo believes that he and his peers were able to plan well and ahead of time, not necessarily for the health pandemic but for any possible setbacks that may affect the industry. Citing Collier’s and Leechiu’s published researches and forecasts, Lorenzo said the real estate players are still here.

“Even my friendly competitors, I think, are also looking at a longterm view. They are making sure that they are ready when the market turns around. And they are still selling. Maybe some segments of the market have slowed down but real estate is so broad. In fact, very broad, there are even subcategories.

I think some may have channeled their time and energy to projects they’re working on and maybe slowed down on the others. But overall I haven’t really heard of anyone really struggling,” he said.

25 reputable years in the real estate business

AS for TLDC, Lorenzo said, the company has been operating all throughout the pandemic up until now that Filipinos are slowly seeing the light at the end of the tunnel with the vaccine rollout.

“We’ve been doing real estate for 25 years and we’ve been through so many crises, financial crisis included, so weathering lang to e.

Real estate is long-term. It’s like farming, when you plant you don’t get the harvest until four or five years. The same thing with real estate. So, I said if this pandemic lasts for one or two years, we’ll be wasting time if we’re not doing anything. Our plans continue,” he said.

With an optimist and visionary leader, it does not come as a surprise

that TLDC has firmly established itself as one of the leading and most progressive real estate companies in the industry.

From successfully finding its niche market and keeping its flagship projects of premium university residences in the Philippines, TLDC diversified and added master-planned townships, lifestyle developments, and partnerships with global hospitality firms in its portfolio. The company has been doing all these non-stop, even in the midst of the pandemic.

“Yes, we never stopped. All our projects are ongoing. You know why? When I look out for something, I think in three to five years. And when I look back, I don’t want to be the one to say sayang I should have done that. So you have to look at yourself, or another way, isipin mo what were you doing five years ago, what you should have done five years ago? What was the Philippines like five years ago?”

Lorenzo explained.

The transition from banner year to pandemic

FROM its milestone years of 2018 and 2019, TLDC’s strong fundamentals helped weather the worst of the pandemic in 2020.

“Yes, 2018 was a banner year for us. In 2019, we had a lot of projects running. With the pandemic, the first thing we did was to plan for the worst and involve everybody. What if it is for long?

What do we do? So, we came up with our plans, and thank God our sales continued. Of course, it was less than pre-pandemic, but we were able to transition to online selling. We were actually doing 40% online in some projects before the pandemic. We took that as a cue and we converted everything online.”

“That helped. We were able to sell last year and even up to now.

Some projects moved faster, some slowed down. But since we’re allowed to conduct work within the projects,

tuloy-tuloy pa rin. Whenever the lockdown eases, our sales also go up.

That’s why this year we are turning over three projects – Torre Lorenzo Malate near the UP-PGH area, 3Torre Lorenzo near CSB in Taft, and the third, Dusit Thani Residence, in Davao,” the amiable CEO explained.

He added that he was happy that the company was able “to thrive and survive the virtual work set up, skeletal workforce and the limitless Zoom meetings for both employees and buyers.” “In fact, I have more meetings nowadays than before. Thanks to Zoom meetings which have kept us all safe from the virus but has kept us in touch all the time,” he said.

True enough, 2018 saw the growth of TLDC with more premium university residences projects along with Torre Lorenzo Premium Residences, Tierra Lorenzo Premium Lifestyle Developments, and TLDC Townships.

Torre Central in the Universitybelt area was turned over in 2018 followed by the groundbreaking of Torre Lorenzo Loyola. “We’re still working on Torre Lorenzo Loyola, it’s on its 26th or 27th floor already.

We’re also doing more projects in the University Belt area,” the CEO revealed.

Most importantly, TLDC makes sure that its properties – especially the residences for students – are the safest place to be. Even before the pandemic, TLDC makes it a point that every development has generous living, learning, and recreational spaces to support a healthy academic and social life.

These include collaboration spaces, WiFi-enabled study areas, high-end gym facilities, indoor pool for health and fitness, multipurpose function rooms, a basketball court, sky deck garden, exclusive study rooms and a visitor’s lounge.

Optimism despite the pandemic

SENDING good vibes and an air of optimism throughout the exclusive interview with Business Mirror, Sir Tomas, as he is fondly called by his co-workers, says he’s seen previous crises and wide-scale economic shocks before.“I got depressed in 1988 during the Asian financial crisis. And I only had one building at that time. Oh my God, I said, why is this happening to us? It was like I was about to finish a building. But then you know what, we weathered that, e, and then tuloy pa rin. Then came the financial crisis in the US in 2008 which I thought was going to be really bad. But it turned out to be really good. Because what happened was, all the money from America

TOMAS P. Lorenzo, Chief Executive Officer

3TORRE Lorenzo

went to the Philippines. That’s how the BPO started. The BPOs started transferring to Asia because it was cheaper in Asia. It’s always a balancing act.”

“I always tell my people that there are a series of milestones in this crisis. One milestone is when a vaccine is proven. The next is when the vaccine starts to be distributed anywhere in the world. Because then, the narrative changes – it’s like ‘may pag-asa pa ba to?’ to ‘may pag asa!’ Finally, there’s a solution, hintay na lang tayo. And true enough when the first vaccine arrived in the Philippines, we considered it a spike in sales because people say pwede na ko bumyahe.

There is that feeling na gumaan yung loob nila even if halfway on ground around the world.”

“The next milestone is when the first vaccine arrived in the Philippines. Ganun yun, tuloytuloy yun. When the LGUs started giving out the vaccine that’s another milestone. Then, the next would be when supplies for private companies come in. All of that is ramping up. By the way, we are providing vaccines for our employees. My message for them is: we want you vaccinated for yourself, for your family, and for the company.

From premium university residences to the township development

AS TLDC grows to become a full-scale real estate developer, the company also continues to strengthen its Tierra Lorenzo Premium Lifestyle Developments outside Metro Manila. The company takes pride in its lifestyle developments in Tierra Lorenzo Davao, namely, the Dusit D2 Hotel, and Dusit Thani Residence Davao.

“These properties are doing okay. We have guests. People are

coming including local visitors and those who fly to Davao for business.

Dusit Thani Lubi Plantation Resort is here, too. People from all over Mindanao are coming here.

Of course, following the IATF protocols. They keep on coming back to us. Come here and you’ll find your sanity back,” Lorenzo said.

This flagship leisure project in the Davao Gulf features a sophisticated style inspired by British colonial architecture, while being set amidst the splendor of nature and marine life.

TLDC also awaits the turnover of its first residential tower in Tierra Lorenzo Lipa, the company’s mixed-use residential and hotel development in Batangas.

“We’re about to start the fifth hotel, the Dusit Princess in Lipa Batangas. Because we have a Tierra Lorenzo development in Lipa. Tower 1 is finished and we are about to start Tower 2 and also the Dusit Princess.

“We’re opening the Ascott Life Residences in Malate next year, 2022. It’s a hotel for foreign and local tourists,” the CEO added.

More plans for the future

NEEDLESS to say, the company’s growth has always been anchored on the management’s foresight to spot opportunities and develop projects in emerging urban centers ahead of everyone else.

As TLDC continues to expand its footprint in emerging urban centers outside Metro Manila, the company ensures to promote inclusive growth within the communities they support. Apart from creating more jobs in the surrounding communities, bringing new developments to these areas also boost economic activity.

“The provinces are really growing nowadays even in this pandemic. The locals, who instead

of putting their money in Metro Manila, are staying in their places.

There is an infrastructure boom.

Ang daming bagong kalye and skyway extensions even in Visayas and Mindanao. The construction slowed down but didn’t stop. I’m a firm believer that any infrastructure is good. Magagamit at magagamit rin yan,” Lorenzo attested.

With the company’s significant growth over the last few years, it seems that TLDC can’t wait to show us what’s in store for the future.

TLDC is ready for the students as well as the young professionals or anyone looking for safe, secure and well-appointed, well-placed condos within the metro. The Malate development near UP-PGH is ready for the doctors and nurses as well as the students within the area.

Likewise, Torre Sur, near Perpetual Hospital in Las Pinas, is ready for frontliners, doctors, and nurses in the area. The company intends to keep on discovering places for people to go to where they can work in silence or study in a safe environment.

“We’re here with many projects ongoing. We have a track record of delivering our projects and managing and achieving long-term financial gain. Meaning because we manage it, we keep our values high and we have existing projects in very good locations. We have future projects that are being planned.

We have some projects that we are about to launch. And we’re looking at a very long-term view as always.

“This pandemic will end sooner or later and it’s a good time to really invest because buyers can get a good deal. Remember there is this vaccine euphoria. When people are getting vaccinated already then the narrative changes, right? So now it’s a good time to invest and stay optimistic,” Sir Tomas concluded.

The Nation BusinessMirror

A4 Wednesday, May 19, 2021 • Editor: Vittorio V. Vitug

Groups ask SC to shield activists, rights advocates from red-tagging

S

By Joel R. San Juan

@jrsanjuan1573

EVERAL activist groups urged the Supreme Court (SC) on Tuesday to draw up new measures that would shield people, particularly human rights advocates, against red-tagging and other abuses of the law.

In a nine-page letter sent to SC Chief Justice Alexander Gesmundo, the groups sought judicial safeguards as they submitted case summaries, which, they said, highlighted the ongoing human rights violations under the Duterte regime.

They alleged that the government’s counter-insurgency campaign is the primary moving force in the commission of gross human rights violations such as arbitrary arrests and extrajudicial killings.

They sent the letter amid continuing allegations of red-tagging and the Anti-Terrorism Council’s (ATC) listing of 29 people as suspected members of the Communist Party of the

Philippines and affiliated with local terrorist groups.

They also took note of the report of the National Union of People’s Lawyers (NUPL) to the SC last April 23 that stated 84 of the 147 attacks on lawyers and judges or 57 percent, during the past 10 years, were committed against lawyers who were engaged in human rights and public interest litigation.

The groups are specifically asking the Court a review of existing rules on the writ of amparo, the writ of habeas data, the writ of habeas corpus, and other predetention and pretrial remedies in order to determine whether these measures are

still efficient in safeguarding fundamental rights.

They added that an assessment should also be conducted on how courts have appreciated and ruled upon in amparo and habeas data proceedings, the discharge of the burden of proof by petitioners as well as compliance with the required standard of diligence by respondents.

The Court was also urged to consider the inclusion of groups or associations of persons sharing a common advocacy or cause as aggrieved parties who may file a petition for the writ of amparo or habeas data.

The groups are also pushing for the mandatory issuance of a Temporary Protection Order (TPO) simultaneously with the issuance of the writ of amparo to be served on the respondents together with the writ, which may include an injunction on acts of red-tagging, both online and offline.

They also urged the Court to abandon its rule established in Ilagan v. Enrile case that declares moot and academic a habeas corpus petition of a person deprived of

By Claudeth Mocon-Ciriaco @claudethmc3

T

HE Department of Health (DOH)— Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) on Tuesday reported an uptick in recorded cases of acute bloody diar-

rhea in various provinces of the region.

To avert a possible surge, DOH Regional Director Eduardo Janairo said that they are currently monitoring the increase in the number of cases in the province of Quezon and Rizal.

Janairo said that 19 were recorded in Quezon and 13 in Rizal.

“The regional office is continuing its disease surveillance and is directly in contact with the local health officials in the provinces,” Janairo said.

The Regional Epidemiology and Surveillance Unit has recorded a total of 44 acute bloody diarrhea cases from January 1 to May 15, 2021.

Age of cases ranged from one-year-old to 57 years old. Majority of the cases were female with 23 (52 percent) and most of the cases be-

Arta tracks LGU collection of illegal pass-through fees

By Tyrone Jasper C. Piad @TyronePiad

liberty with the filing of criminal charges against her or him by law enforcement authorities.

Other requests from the groups include the promulgation of rules that will ensure the proper and timely receipt of subpoenas and criminal complaints by respondents; establishment of a central repository of criminal charges by which the people can be informed of cases filed against them; the promulgation of uniform rules for pre-trial remedies that uphold the accused’s constitutional right to due process; requiring the active presence of independent witnesses during implementation of search warrant to ensure strict compliance with constitutional requirements and due regard for constitutional rights; inventory and investigation of serially issued search warrants by alleged “search warrant factories; and issuance of new rules that are more responsive in providing urgent and practical reliefs for victims of rights violations.

Among the groups who sent the letter to the SC include officials from the Bagong Alyansang Makabayan, Kilusang Mayo Uno, and the Alliance of Concerned Teachers.

DOH-Calabarzon reports rise in acute bloody diarrhea cases longed to 1–10-year-old age group.

The province with the highest cases of acute bloody diarrhea was recorded in Quezon with 19 followed by Rizal with 13; Laguna with 8 and Cavite with 4.

Janairo warned that diarrhea should not be ignored, saying the ailment may result to death.

Diarrhea has been noted to be common during the dry season. A person suffering with an acute bloody diarrhea experiences abdominal pain, dehydration and having watery stool.

Janairo said that bloody diarrhea is caused

by Escherichia coli that can be found on food and in the environment.

“It is very important that we wash our hands before and after eating and make sure that the water you drink is clean ,” Janairo said.

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OME local government units (LGUs) are still allegedly engaged in the illegal charging of so-called pass-through fees from vehicles transporting goods despite the recent directive prohibiting such collection, the Anti-Red Tape Authority (Arta) said.

Arta Director General Jeremiah Belgica said in a news statement on Tuesday that the agency is investigating the matter. It recently launched inspections among LGUs after issuing the Joint Memorandum Circular (JMC) 2021-01 on April 28.

“Sa pag-iikot po ng aming investigation team, nakita po na may mga sumusuway pa rin sa JMC [In our rounds, we observed some are violating the JMC],” Belgica said.

The JMC prohibits LGUs from collecting fees and taxes on the transport of foods and products. The order was signed by the Arta, Department of the Interior and Local Government (DILG) and the Department of Finance (DOF).

These fees include “charges for wharfage, tolls for bridges or otherwise, sticker fee, discharging fee, delivery fee, market fee, toll fee, entry fee, and/or mayor’s permit fee, or

other taxes, fees, or charges in any form whatsoever upon such goods or merchandise.”

The directive was released in a bid to improve the country’s logistics sector. It is one of the priority areas of Arta’s National Effort for the Harmonization of Efficient Measures of Inter-related Agencies program.

The current local ordinances on pass-through fees and taxes for the transport of goods and products are subject to regulatory impact assessment as per the JMC. Arta, under the JMC, can conduct its own regulatory review of the subject ordinance. It is tasked with assisting the DILG in implementing the order; and investigating and filing appropriate charges against erring government officials.

The JMC noted that non-compliance “shall be dealt with in accordance with pertinent laws, rules and regulations.”

For its part, the DOF, through the Bureau of Local Government Finance, is tasked to monitor the compliance of local treasures during the conduct of treasury evaluations and to provide technical assistance to LGUs in updating and amending the tax ordinances.

Taal Volcano shows recurring elevated unrest, remains unstable, Phivolcs says

By Jonathan L. Mayuga

@jonlmayuga

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AAL Volcano’s main crater emitted steam-laden plumes that reached 300 meters high, as the volcano continues to demonstrate recurring elevated unrest, the Philippine Institute of Volcanology and Seismology (Phivolcs) said on Tuesday.

One of the world’s most active and smallest volcanoes, Taal last erupted in January 2020, driving tens of thousands of residents around the lake in Batangas to various evacuation centers.

The upswelling of hot volcanic fluids in the main crater lake and active degassing from fumaroles on the main crater were observed since daybreak, according to Phivolcs’ Volcano Bulletin issued at 8 a.m. on Tuesday.

The volcano also emitted an average of 2,214 tons/day of sulfur dioxide on Monday, May 17, 2021.

While Alert Level 2 is maintained over Taal, such activity indicates that the volcano’s condition remain unstable.

At Alert Level 2, sudden steam-driven or phreatic explosions, volcanic earthquakes, minor ashfall and lethal accumulations or expulsions of volcanic gas can occur and threaten areas within and around Taal Volcano Island.

In the past 24 hours, Taal Volcano’s monitoring network recorded 288 volcanic earthquakes, including 39 low-frequency volcanic earthquakes and 249 volcanic tremor events

with durations from one to 20 minutes, and low-level background tremor that has been persistent since April 8.

“Most of these earthquakes were very shallow and generated within 5 kilometers beneath Taal Volcano Island or TVI and northeast Taal Lake,” Phivolcs said.

According to Phivolcs, the electronic tilt monitoring recorded slight but very abrupt inflation of Taal Volcano Island that began Monday, while longer-term ground deformation parameters from electronic tilt, continuous GPS, and InSAR monitoring continue to record very slow and steady inflation and expansion of the Taal region that began after the January 2020 eruption, parameters that indicate persistent magmatic activity at shallow depths beneath the edifice.

Phivolcs said entry must be strictly prohibited into TVI’s, Taal’s Permanent Danger Zone or PDZ, especially the vicinities of the main crater and the Daang Kastila fissure, and occupancy and boating on Taal Lake.

Local government units are also advised to continuously assess and strengthen the preparedness of previously evacuated barangays around Taal Lake in case of renewed unrest.

Also, Phivolcs advised civil aviation authorities to caution pilots against flying close to the volcano as airborne ash and ballistic fragments from sudden explosions and wind-remobilized ash may pose hazards to aircraft.

Bill authorizes deployment of dentists, med techs in Covid vaccination program

By Jovee Marie N. Dela Cruz @joveemarie

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AWMAKERS on Tuesday filed a bill that authorizes the deployment of dentists and medical technologists as vaccinators to speed up the government’s Covid inoculation program, and prevent the possible expiration of Covid-19 vaccine doses.

House Bill 9354, filed by Quezon Rep. Helen Tan, Quezon City Rep. Kit Belmonte, and Marikina City Rep. Stella Luz Quimbo, seeks to amend Republic Act 11525, or the Covid-19 Vaccination Program Act. The statute provides a framework and guidelines for the procurement, administration process, and the provision of funds for the government’s inoculation program.

Aside from doctors and medical professionals, RA 11525 only allows duly trained pharmacists and midwives to administer doses of FDA-approved Covid-19 vaccines.

The lawmakers said the addition of dentists and medical technologists as vaccinators will contribute to the expansion of the vaccination program of the nation as more can administer jabs to Filipinos.

“With the arrival of more vaccines in the country, the swift roll out of the vaccine is needed for the efficient administration and prevention of possible expiration of the doses,” the bill’s explanatory note states.

According to the Department of Health (DOH), the government is now targeting to use all of its 2 million doses of AstraZeneca vaccine before July when the said jabs will expire.

According to gover nment data, 2,282,273 Filipinos have already been vaccinated as of May 16, 2021.

The World Health Organization said that at least 70 percent of the population must be inoculated to achieve herd immunity. In the Philippines, that is equivalent to approximately more than 70 million Filipinos.

Economy

BusinessMirror Wednesday, May 19, 2021

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Editor: Vittorio V. Vitug

www.businessmirror.com.ph

P2P ‘bubble travel’ allowed for NCR-Plus tourists–DOT

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

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CCOMMODATION establishments with dedicated air charter services are the only ones which can accept point-to-point (P2P) guests from the National Capital Region and four provinces (NCRPlus) now under general community quarantine (GCQ) “with heightened restrictions.”

These hotels and resorts are also required to secure another certificate from the Department of Tourism (DOT) if they want to accept guests flying in by the dedicated air charter services.

This was contained in the DOT’s Advisory 5, series of 2021 dated May 14, 2021, to wit: “Leisure travel into and out of NCR-Plus is not allowed except for point-to-point air travel to accommodations that have been granted a Certificate of Authority to Operate for Point-to-Point Air Leisure Travel [CAO P2P].” NCR-Plus refers to Metro Manila plus Bulacan, Rizal, Cavite, and Laguna.

DOT Undersecretary for Legal Affairs Edwin R. Enrile clarified to the BusinessMirror, “Not all charter services” can be used by tourists to fly from NCR-Plus to leisure destinations. “The charter has to be exclusively for the resort,

because the concept is bubble tourism,” he explained.

This means, NCR-Plus tourists can only book in high-end resorts such as the El Nido Resorts Group and Amanpulo in Palawan, as well as Balesin Island in Quezon, to name a few.

But he could not explain why these resorts needed another permit when these resorts are already accredited

by DOT and were given a CAO when they reopened for tourism, along with having a dedicated air charter service. “The guidelines were developed in conjunction with the Department of Health, Department of the Interior and Local Government, and the Department of Transportation,” he underscored.

He cited DOT’s earlier released P2P air travel for leisure purposes guidelines under Administrative Order 2021-003, which are applicable to “all accommodation establishments in areas under GCQ or [modified] GCQ, accessible via point-to-point air travel,” as the ones able to accept guests from NCR-Plus.

MICE, social gatherings still banned

MEANWHILE, under the latest DOT advisory, “Meetings, incentives, conventions and exhibitions [MICE] and other business events, and social events such as wedding reception,

parties, debuts, anniversary celebrations and the like,” are still not permitted in NCR-Plus.

Allowed are staycations, but only in accommodation establishments that have a CAO for Staycation. There are 13 hotels with close 6,000 rooms in Metro Manila allowed to offer staycations: Grand Hyatt, Okada Manila, Shangri-La at The Fort, Nobu, Joy Nostalg, Edsa Shangri-La, Solaire, Hyatt Regency and Nuwa at City of Dreams, The Peninsula, Aruga by Rockwell, Sheraton Manila, and Hilton Manila. Hotels being used as quarantine or isolation facilities are not allowed to handle staycation guests.

No information was made available for hotels or resorts in the “Plus” provinces.

As per the advisory, outdoor tourist attractions such as nature parks and theme parks may operate at 30 percent of the venue’s capacity, but with strict adherence to minimum public-health and safety standards.

Restaurants and cafes in hotels may operate their indoor dine-in services at 20 percent of seating capacity, and 50 percent for al fresco dining.

Residents in NCR-plus between the ages of 18 and 65 years old are the only ones permitted to enjoy staycations, eat at restaurants and cafes in hotels.

FDA and DOH urged to ‘revert’ to PHL rules in drug registration

By Jovee Marie N. Dela Cruz @joveemarie

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HOUSE deputy speaker is urging the Department of Health (DOH) and the Food and Drug Administration (FDA) to “revert” to the national guidelines on the registration of pharmaceutical products to improve availability and affordability of locally produced life-saving medicines.

House Deputy Speaker Bernadette Herrera said the Philippines can “pause” applying the stringent Asean guidelines that have made it extremely difficult for local drug manufacturers to register their products in the country.

Herrera proposed to hold the implementation of DOH Administrative Order 2013-0021, which adopts the Asean Common Technical Dossier (ACTD) and Common Technical Requirements (ACTR) for registration of products for human use, to fast-track the process of product registration.

Herrera said a pause on the implementation of Asean guidelines is in order considering that the “Philippines is not a signatory to it.”

“I’d like to be updated on my proposal to pause the Asean guidelines because until now, I have not received a feedback on the position of FDA and DOH with regard to using the national guidelines,” the Bagong Henerasyon lawmaker said.

“Let’s pause the Asean application. Let us use our national guidelines,” she added.

Herrera issued the statement following continuation of the hearing of the House Committee on Good Government and Public Accountability last Monday on House Resolution 1711 that she and Speaker Lord Allan Velasco have filed.

The resolution called for an investigation into the guidelines and policies of the FDA and DOH for the registration, utilization, manufacture, distribution or sale of Covid-19 treatment drugs that may hamper public health service delivery to the

Filipino people.

The party-list lawmaker insisted that using the national guidelines is something that would free up the process in FDA without sacrificing the efficacy and quality of the medicines that local drug companies will produce.

For her part, FDA Center for Drug Regulation and Research Director Joyce Cirunay raised that non-compliance with the ACTR would form a technical barrier to trade as it would violate the agreement among Asean member states.

Cirunay assured, however, that the FDA is expediting the process for Covid-related applications.

The Philippine Chamber of Pharmaceutical Industry Inc. and the Philippine Pharmaceutical Manufacturers Association had earlier disclosed that a total of 1,025 applications for certificate of public registration, 50 for license to operate, and 381 for automatic renewal have been pending with the FDA as of March 29.

Poe prods Duterte’s economic managers to ‘keep rice and pork prices affordable’

By Butch Fernandez @butchfBM

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EN. Grace Poe pressed the Duterte administration to c losely monitor and keep prices of rice and pork supply at affordable levels after endorsing tariff cuts intended to bring down prices of basic commodities.

At the same time, the senator also recalled that restive hog raisers and farmers also announced an impending boycott of the Department of Agriculture’s (DA) summit scheduled for this week after the DA “repeatedly ignored their pleas” not to lower tariffs as it would discourage local production and bring down government revenues.

This, even as the economic team has been saying that lowering or tariffs

or the opening up of the market to imports will “lower prices” for consumers.

“Walk the talk; keep pork, rice prices affordable for ordinary citizens,” Poe prodded Tuesday, even as the administration’s economic team noted the tariff cuts will also result in foregone revenues.

In a news statement, Poe pointed out that “our people expect the government’s economic team to live up to their avowed tenet of fiscal responsibility by seeing to it that actual benefits trickle down to Filipino families and not just to importers.”

Poe asked: “Will the tariff slash actually result in lower prices in public markets and groceries? Can the people actually feel it?”

The senator, at the same time, acknowledged concerns that the ensuing

“lost revenue could impact on next year’s budget, which Congress will start deliberating soon.”

She recalled that the National Economic and Development Authority said time and again that “nothing is free from heaven and that government cannot just give subsidies because it will have to be taken from somewhere.”

Reminding that congressional deliberations on next year’s annual budget bill is set to start soon, Poe wants to know “which services will government now have to scrimp on because of the foregone revenues on pork and rice?”

This, as she also cited Malacañang’s Executive Order 135 that temporarily reduced the “most favored nation” tariff rates for rice to 35 percent, from 40 percent for in-quota imports and 50 percent for out-quota imports.

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Wednesday, May 19, 2021

The World BusinessMirror

Israel, Hamas trade fire in Gaza as war rages on G

AZA CITY, Gaza Strip—Israel carried out a wave of airstrikes on what it said were militant targets in Gaza, leveling a six-story building in downtown Gaza City, and Palestinian militants fired dozens of rockets into Israel early Tuesday, the latest in the fourth war between the

two sides, now in its second week.

Explosions from the airstrikes echoed through the pre-dawn darkness in Gaza City, sending flashes of orange across the night sky. The strikes toppled the Kahil building, which contains libraries and educational centers belonging to the Islamic University. Clouds of dust

hung over the site, which had been reduced to piles of concrete rubble and tangled power lines.

There were no immediate reports of casualties from the overnight strikes.

Heavy fighting broke out on May 10 when Gaza’s militant Hamas rulers fired long-range rockets toward Jerusalem in support of Palestinian protests there against Israel’s heavy-handed policing of the AlAqsa mosque compound, a flashpoint holy site sacred to Jews and Muslims, and the threatened eviction of dozens of Palestinian families by Jewish settlers.

The Israeli military said Tuesday it fired more than 100 munitions at 65 militant targets, including rocket launchers, a group of fighters and the homes of Hamas commanders that the army said were being used for military purposes. It said more than 60 fighter jets took part in the operation.

The military said Palestinian militants fired 90 rockets, 20 of which fell short into Gaza. Israel says its missile defenses have a 90 percent interception rate.

The military said it also shot down a drone “approaching the Israeli border” in the northeast, far from the Gaza fighting. It did not say where the drone originated, and the army could not immediately be reached for comment. It’s possible the drone came from Syria.

At least 212 Palestinians have been killed in heav y airstrikes so far, including 61 children and 36 women, with more than 1,400 people wounded, according to the Gaza Health Ministry. Ten people in Israel, including a 5-year-old boy and a soldier, have been killed in the ongoing rocket attacks launched from civilian areas in Gaza toward civilian areas in Israel.

Israel says it has inflicted heavy damage on Hamas’ military infrastructure, including a vast network of militant tunnels it refers to as the “Metro.”

The strikes have brought down several buildings and caused widespread d a m age in t he na r row coastal territory, which is home to more than 2 million Palestinians and has been under an Israeli-Egyptian blockade since Hamas seized power from rival Palestinian forces in 2007.

Israeli airstrikes and shelling have damaged at least 18 hospitals and clinics and entirely destroyed one health facility, the World Health Organization said in a new report.

Nearly half of all essential drugs in the territory have run out.

It said the bombing of key roads, including those leading to the main Shifa Hospital, has hindered the movement of ambulances and supply vehicles. Over 41,000 displaced Palestinians have sought refuge

in UN schools in Gaza, which was already struggling to cope with a coronavirus outbreak.

Israel has vowed to press on with its operations, and the United States signaled it would not pressure the two sides for a cease-fire even as President Joe Biden said he supported one.

“We will continue to operate as long as necessary in order to return calm and security to all Israeli citizens,” Prime Minister Benjamin Netanyahu said after meeting with top security officials on Monday.

Protests were expected across the region Tuesday in response to a call by Palestinian citizens of Israel for a general strike. The protest has the support of Palestinian Authority President Mahmoud Abbas’ Fatah party.

The Biden administration has declined so far to publicly criticize Israel’s part in the fighting or send a top-level envoy to the region. On Monday, the United States again blocked a proposed UN Security Council statement calling for an end to “the crisis related to Gaza” and the protection of civilians, especially children.

Since the fighting began, the Israeli military has launched hundreds of airstrikes it says are targeting Hamas’ militant infrastructure.

Palestinian militants in Gaza have fired more than 3,400 rockets into Israel.

Hamas and Islamic Jihad say at least 20 of their fighters have been killed, while Israel says the number is at least 160 and has released the names of and photos of more than two-dozen militant commanders it says were “eliminated.” The Gaza Health Ministr y, which is controlled by Hamas, does not give a breakdown of how many casualties were militants or civilians.

Israel’s airstrikes have leveled a number of Gaza City’s tallest buildings, which Israel alleges contained Hamas militar y infrastructure.

Among them was the building housing The Associated Press Gaza office and those of other media outlets.

Netanyahu alleged that Hamas military intelligence was operating inside the building and said any evidence would be shared through intelligence channels. US Secretary of State Antony Blinken said he hasn’t yet seen any evidence supporting Israel’s claim.

AP President Gary Pruitt called for an independent investigation into the attack.

“As we have said, we have no indication of a Hamas presence in the building, nor were we warned of any such possible presence before the airstrike,” he said in a statement.

“This is something we check as best we can. We do not know what the Israeli evidence shows, and we want to know.” AP

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

Biden raises cease-fire, civilian toll in phone call to Netanyahu

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resident Joe Biden expressed support for a ceasefire between Israel and Gaza’s militant Hamas rulers in a call to Israeli Prime Minister Benjamin Netanyahu, but he stopped short of demanding an immediate stop to the eight days of Israeli airstrikes and Hamas rocket barrages that have killed more than 200 people, most of them Palestinian.

Biden’s carefully worded statement, in a White House readout Monday of his second known call to Netanyahu in three days as the attacks pounded on, came with the administration under pressure to respond more forcefully despite its determination to wrench the US foreign policy focus away from Middle East conflicts.

Biden’s comments on a cease-fire were open-ended, and similar to previous administration statements of support in principle for a cease-fire.

That’s in contrast to demands from dozens of Democratic lawmakers and others for an immediate halt by both sides. But the readout of the call to the Israeli leader showed increased White House concern about the air and rocket attacks — including Israeli airstrikes aimed at weakening Hamas—while sticking to forceful support for Israel.

The US leader “encouraged Israel to make every effort to ensure the protection of innocent civilians,” the White House said in its readout.

An administration official familiar with the call said the decision to express support and not explicitly demand a cease-fire was intentional.

While Biden and top aides are concerned about the mounting bloodshed and loss of innocent life, the decision not to demand an immediate halt to hostilities reflects White House determination to support Israel’s right to defend itself from Hamas, the official said, speaking on condition of anonymity to discuss the private deliberations.

Netanyahu told Israeli security officials late Monday that Israel would “continue to strike terror targets” in Gaza “as long as necessary in order to return calm and security to all Israeli citizens.”

As the worst Israeli-Palestinian fighting since 2014 raged, the Biden administration has limited its public criticisms to Hamas and has declined to send a top-level envoy to the region. It also had declined to press Israel publicly and directly to wind down its latest military operation in the Gaza Strip, a six-mile by 25-mile territor y that is home to more than 2 million people. Cease-fire mediation by Eg y pt and others has shown no sign of progress.

Separately, the United States, Israel ’s top ally, blocked for a third time Monday what would have been a unanimous statement by the 15-nation UN Secur it y Council ex pressing “g rave concern” over the intensif y ing Israeli-Palestinian conf lict and the loss of civilian lives. The final US rejection killed the Security Council statement, at least for now.

White House press secretary Jen Psaki and national security adviser Jake Sullivan said the United States was focusing instead on “quiet, intensive diplomacy.”

Biden has been determined to wrench US foreign policy away from Middle East and Central Asia conflicts, including withdrawing US troops from Afghanistan and ending support for a Saudi-led war in Yemen, to focus on other policy priorities. Internationally for the US, that means confronting climate change and dealing with the rise of China, among other objectives.

That shift carries risks, including weathering f laring violence as the United States steps back from hotspots.

Secretary of State Antony Blinken, speaking in Denmark on the first stop of an unrelated tour of Nordic countries, said Monday the United States was ready to spring in to help if Israel and Hamas signal interest in ending hostilities—but that the US wasn’t demanding that they do so.

“Ultimately it is up to the parties to make clear that they want to pursue a cease-fire,” Blinken said. He described US contacts to support an end to the fighting, including the calls he was making midair between his Nordic stops.

Blinken defended the US handling of the decades-old IsraeliPalestinian conf lict as America works to push for climate-accord deals, withdraw troops from Afghanistan, and turn US attention to what Biden sees as the nation’s most pressing foreign policy priorities.

It’s “a big world and we do have responsibilities,” he said.

Senate Majority Leader Chuck Schumer on Monday joined dozens of Democratic lawmakers—and one Republican, and independent Sen. Bernie Sanders—in calling for the cease-fire by both sides. A prominent Democrat, Rep. Adam Sc hif f, t he House intel l igence committee chairman, pressed the US over the weekend to get more involved.

Progressive Democrats have been more outspoken in demanding pressure on Israel—and Republicans and conservative Democrats comparatively quiet, for a politically fraught US issue like support for Israel—as the death toll has mounted.

Rep. Cori Bush, a Missouri Democrat, linked Palestinian issues to those of Black Americans.

“We oppose our money going to fund militarized policing, occupation, and systems of violent oppression and trauma,” Bush tweeted.

But Senate Minor it y Leader Mitch McConnell, R-Ky, took the Senate floor on Monday to assail lawmakers for including Israel in their demands for a cease-fire.

“To say that both sides, both sides need to de-escalate downplays the responsibility terrorists have for initiating the conflict in the first place and suggests Israelis are not entitled to defend themselves against ongoing rocket barrages,” McConnell said. AP

Indonesians protest at US Embassy over Israel’s airstrikes in Gaza Strip

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AKARTA, Indonesia—Pro-Palestinian protesters marched to the heavily guarded US Embassy in Indonesia’s capital on Tuesday to demand an end to Israeli airstrikes in the Gaza Strip.

Waving Indonesian and Palestinian f lags and signs that read “Free Palestine,” several hundred demonstrators gathered along a major street in Jakarta that runs outside the embassy. More than 1,000 police were deployed around the compound, which is blocked off by concrete road separators.

Indonesia, the world’s most populous Muslim majority nation, does

not have formal diplomatic relations with Israel and there is not an Israeli Embassy in the country.

One group of protesters, organized by the United Indonesian Muslim Student Action group, chanted “God is Great” and “Freedom for Palestine” as they marched. Their banners and placards slammed the airstrikes in Gaza and denounced America’s staunch support of Israel.

Another group, organized by the Confederation of Indonesian Trade Unions, held a similar rally a few hundred meters (yards) from the embassy. They yelled “Save Palestinians” as they marched through

downtown Jakarta to the United Nations mission.

Similar protests organized by union workers were held at the same time Tuesday in other Indonesian cities, including in Surabaya, Bandung, Yogyakarta, Makassar and Riau.

Authorities warned protesters to maintain social distance during the demonstrations to prevent the spread of the coronavirus.

Indonesia has long been a strong supporter of Palestinians and President Joko Widodo has condemned the airstrikes.

“Israel aggression must be put to a stop,” he wrote Sunday on Twitter.

In a joi nt st atement relea sed late Sund ay, Widodo, Ma laysia’s Pr ime Min ister Mu hy idd in Ya ssin and Br unei ’s Su ltan Hasana l Bol k i a h c a l led for a cea sef i re bet ween Israel a nd Ha m a s a nd de - esc a l at ion of t he sit u at ion.

The three leaders of Muslimmajority nations in Southeast Asia also urged the United Nations Security Council to act urgently to guarantee the safety and protection of Palestinian civilians. They also called for an emergency UN General Assembly to come up with a resolution to end “the atrocities against the Palestinian people.” AP

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Biden boosts US vaccine sharing commitment to 80 million doses

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ASHINGTON—President Joe Biden said Monday that the US will share an additional 20 million doses of Covid-19 vaccines with the world in the coming six weeks as domestic demand for shots drops and global disparities in distribution have grown more evident.

The doses will come from existing production of Pfizer, Moderna or Johnson & Johnson vaccine stocks, marking the first time that US-controlled doses of vaccines authorized for use in the country will be shared overseas.

It will boost the global vaccine sharing commitment from the US to 80 million.

“We know America will never be fully safe until the pandemic that’s raging globally is under control,” Biden said at the White House.

T he a n nou ncement comes on top of the Biden’s administration’s prior commitment to share about 60 million doses of the AstraZeneca vaccine, which

is not yet authorized for use in the US, by the end of June. The AstraZeneca doses will be available to ship once they clear a safety review by the Food and Drug Administration.

Biden also tapped Covid-19 coordinator Jeff Zients to lead the administration’s efforts to share doses with the world.

“Our nation’s going to be the arsenal of vaccines for the rest of the world,” Biden said. He added that, compared to other countries like Russia and China that have sought to leverage their domestically produced doses, “we will not use our vaccines to secure favors from other countries.”

Japan’s economy shrinks 5.1% as pandemic dries up spending

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OKYO—The Japanese economy contracted at an annual rate of 5.1 percent in JanuaryMarch, slammed by a plunge in spending over the coronavirus pandemic, according to government data released on Tuesday.

The Cabinet Office’s preliminary seasonally adjusted GDP, or gross domestic product, showed household consumption dropped at an annualized rate of 5.6 percent, while government spending declined 6.9 percent.

Gross domestic product is the sum value of a nation’s products and services. The annualized rate shows what the rise or drop would have been if that same pace had continued for a year.

Much of Japan has been under a state of emergency, centered around early closures of restaurants and bars, to curb the spread of the virus at places where crowds gather.

Still, Covid-19 illnesses and deaths have been rising amid one of the slowest vaccine rollouts in the developed world. About 4 percent of the population has gotten at least one shot so far.

Analysts say a more thorough vaccination effort is the only realistic way economic activity can resume close to normal and growth can recover to pre-pandemic levels. Japan’s GDP drop over the last fiscal year is the worst since the end of World War II, surpassing the global financial crisis.

The world’s third-largest economy managed to eke out growth in the last two quarters, slowly recovering from earlier pandemic damage. It grew 2.8 percent in October-December, compared to the previous quarter, and expanded 5.3 percent July-September on-quarter. It had shrunk

the quarter before that, at a minus 8.1 percent in April-June. These are all not annual rates but compared to the previous quarter.

For the latest quarter, the contraction on quarter stood at minus 1.3 percent.

For the 2020 calendar year, Japan’s economy sank 4.7 percent, the first year of contraction in 11 years, the Cabinet Office said. Economic growth was flat in 2019.

Robert Carnell, Regional Head of Research AsiaPacific at ING, said the latest results were slightly worse than what analysts had expected, highlighting the negative effects of restrictions on movement during the emergency.

“The prospects for growth in the rest of the year are looking much weaker,” he said.

“With Japan still lagging behind even many developing Asian economies when it comes to vaccination rates, we believe a more rapid second-half improvement is unlikely.”

Although trade has been recovering as overseas nations get vaccinated, much of the Japanese economy depends on domestic demand.

Japan never had a lockdown for Covid-19, trying to keep business activity going while encouraging working from home and social distancing.

Japan has had more than 11,500 deaths from Covid-19.

Cases are surging especially in urban areas, such as Osaka and Tokyo, and hospital beds are running out in some spots.

The public has grown increasingly opposed to holding the Tokyo Olympics, postponed from last year and set to begin in July, Japanese media surveys and an online protest petition show. AP

The Biden administration hasn’t yet said how the new commitment of vaccines will be shared or which countries will receive them.

To date, the US has shared about 4.5 million doses of AstraZeneca vaccine with Canada and Mexico.

Additional doses of the Pfizer vaccine manufactured in the US have begun to be exported as the company has met its initial contract commitments to the federal government.

T he US has faced grow ing pressure to share more of its vaccine stockpile with the world as interest in vaccines has waned domestically.

“While wealthy countries continue ramping up vaccinations, less than 1 percent of Covid-19 vaccine doses globally have been

administered to people in lowincome countries,” said Tom Hart the acting CEO of the ONE Campaign. “The sooner the US and other wealthy countries develop a coordinated strategy for sharing vaccine doses with the world’s most vulnerable, the faster we will end the global pandemic for all.”

More than 157 million Americans have received at least one dose of a Covid-19 vaccine, and 123 million are fully vaccinated against the virus. Biden hopes the US will have 160 million people fully vaccinated by July Fourth.

Globally, more than 3.3 million people are confirmed to have died from the coronavirus. The US has seen the largest confirmed loss of life from Covid-19, at more than 586,000 people. AP

Wednesday, May 19, 2021

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India reports record for single-day virus deaths as cases top 25 million

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EW DELHI—India’s total virus cases since the pandemic began swept past 25 million as the countr y registered more than 260,000 new cases and a record 4,329 fatalities in the last 24 hours.

T he nu mbers repor ted on Tuesday follow a trend of falling cases after infections dipped below 300,000 for the first time in weeks a day earlier.

Active cases in the countr y also decreased by more than 165,000 on Tuesday—the biggest dip in weeks. But deaths h av e cont i nue d t o r i s e a nd hospitals are still swamped by patients.

Ind i a h a s recorded nea rly 2 8 0,0 0 0 v i r u s d e at h s s i nc e the pandemic began. Both the

number of deaths and total reported cases are thought to be vast undercounts.

T he gover n ment on Mond ay a n nou nced t h at 17 ne w l abs w i l l help t rac k va r i a nts, boost i ng Ind i a’s genome se quenc ing abi l it ies, as concer n g rows over a potent i a l ly worr isome va r i a nt f irst detected here. T he va r i a nt may spread more easi ly but t he cou nt r y has lag ged behind in doing t he test ing needed to t rac k it a nd u nderst a nd it bet ter.

The variant first identified in India has prompted global concern—most notably in Britain, where it has more than doubled in a week, def ying a shar p nationw ide dow nward trend in infections. AP

A8 Wednesday, May 19, 2021 • Editor: Angel R. Calso

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editorial

Pockets of hope in PHL agri sector

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or many years, the crops subsector had always buoyed the country’s farm production given the fact that it accounts for half of agricultural output.

The latest data from the Philippine Statistics Authority (PSA) indicated that the crops subsector—led by rice and corn—accounted for nearly 60 percent of output.

The 3.3-percent hike by the crops subsector in the first quarter, however, was not enough to cushion the doubledigit contraction in the output of the livestock and poultry subsector, which had a combined share of 27.5 percent in total agricultural production.

The 3.3-percent decline in agricultural production is grim, but PSA data indicated that there are pockets of hope particularly when it comes to rice production. Palay production rose by 8.6 percent to 4.626 million metric tons (See, “Q1 palay yield up 8.6% despite smaller area,” in the BusinessMirror, May 12, 2021). The increase in output was achieved despite the 3.52-percent contraction in areas planted with rice.

An economist attributed the hike in rice production to the distribution of hybrid seeds, inbred seeds and free fertilizer and other interventions bankrolled by the Rice Competitiveness Enhancement Fund.

As rice is a water-loving crop, the mild La Niña in rainfed areas enabled farmers to plant the staple. While irrigated areas accounted for threefourths of rice harvested in the first quarter, rice production in those areas fell 3.12 percent year-on-year, which pales in comparison to the 11.14-percent hike in output recorded in rainfed areas.

Barring an El Niño episode or strong typhoons that would ravage crops planted in major rice-producing areas, the Philippines could produce as much as 20.4 MMT of unmilled rice this year, according to the Department of Agriculture. If this level of production is achieved, the Philippines’s self-sufficiency level would again hit 95 percent. This means that the country would not have to rely too much on imports.

As the Philippines is one of the world’s top rice importers, the significant reduction in its purchases from abroad would ease the pressure on global supply, which is currently at an all-time high, according to the Food and Agriculture Organization. The United States Department of Agriculture said record domestic harvest would reduce the Philippines’s imports this year (See, “Record domestic harvest seen to cut rice imports,” in the BusinessMirror, May 14, 2021). This would help maintain current world rice stocks, as FAO said anticipated drawdowns in Bangladesh, China and Indonesia will likely be compensated by expected buildups in India, Thailand and the United States.

While ample global stocks is good news for importers, the Philippines must continue to shoot for increases in output due to headwinds that threaten to disrupt production in top rice-exporting countries. India, the world’s top rice exporter, is facing a water shortage, according to an Associated Press report. Meanwhile, rice farmers in Vietnam—the Philippines’s top source of the staple—are switching to shrimp farming as rising seawaters bring increased salination levels in the Mekong Delta region, Reuters said in a report last May 6.

As climate change will make food production more challenging in the years to come, government must continue to expand its mechanization efforts and the roll out of other interventions to increase the production of staples and other key commodities like meat products. Government must also expand its investments in technologies that will help the farm sector eliminate animal diseases and cope with the ill effects of changing weather patterns.

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Revisiting the small business wage subsidy program Aurora C. Ignacio

All About Social Security

First of two parts

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he Covid-19 pandemic has been affecting people all over the world for more than a year now. Its effect on the social and economic well-being cannot be measured, most particularly to the situation of workers in small and medium enterprises.

For this column, I would like to discuss the role of the Social Security System (SSS) in providing the small business workers the wage subsidy program, which was launched on April 17, 2020—just a little over a month after the strict quarantine lockdowns were implemented by the government.

The government made a drastic but necessary decision to implement a nationwide lockdown. While the restriction in mobility helped slow down the transmission of the virus, it also affected the economy. A number of businesses suspended operations while others had to shut down their companies permanently. As a result, many Filipino workers lost their jobs.

In response to this predicament, the national government—with the help of

the legislators from the two houses of Congress—enacted Republic Act 11469 or the Bayanihan to Heal as One Act. The law allowed the national government to implement key measures to help curb and mitigate the pandemic’s impact on the Filipino people. Spearheaded by the Department of Finance (DOF), the administration embarked on what could be the most extensive social protection program in Philippine history; that is, provide financial support to low-income families, workers in the small business sector, and other vulnerable members of society.

The wage subsidy for small business workers

One of the core features of the Bayanihan to Heal as One Act is providing a wage subsidy to workers of small businesses

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were deemed no longer eligible under the SBWS program.

A highly digital program

SBWS was a unique form of government subsidy because it was automated and digital from its application to disbursement.

SSS played a significant part in developing a dedicated webpage for the SBWS application. It was all done online since SSS has an organized and extensive database of employers and members. This is why the National Government has tapped us to oversee its disbursement to the rightful beneficiaries credited through contactless payment such as the worker’s chosen bank account or PayMaya e-wallet account. Other beneficiaries, however, opted to receive the financial assistance through cash remittance via M Lhuillier Kwarta Padala. We consider the SBWS program as one of SSS’ milestone accomplishments in 2020. We believe this— along with special Covid-19 relief packages offered as early as March last year—contributed to help ease the dire situation the working public continue to face in these tough times.

To be continued Aurora C. Ignacio is SSS president and chief executive officer.

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

Psychological incapacity is a legal concept, not a medical condition, in declaration of nullity of marriage cases

✝ Ambassador Antonio L. Cabangon Chua Publisher

affected by the enhanced community quarantine (ECQ) implementation— called the Small Business Wage Subsidy (SBWS) program.

The SBWS was a joint undertaking of the DOF, the SSS, and the Bureau of Internal Revenue (BIR). The P51-billion program gave financial assistance to small business workers who did not get paid for at least two months due to the work stoppages brought about by the lockdowns.

As of June 2020, a total of P45.61 billion has been distributed to more than 3 million workers under SBWS. The said program focuses on workers of small businesses that are registered with SSS and BIR. Two tranches of wage subsidies were given to the workers, regardless of their employment status, if they met the following qualifications: n unable to work during the ECQ implementation; n did not receive any compensation due to the temporary closure or suspension of work; and n certified by their employers as having met all the criteria of the program.

Qualified workers received wage subsidies amounting to P5,000 to P8,000, based on their respective areas of jurisdiction.

However, workers who already received other government subsidies from the Department of Labor and Employment’s Covid-19 Adjustment Measures Program (CAMP) and the Department of Social Welfare and Development’s Social Amelioration Program (SAP)

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sychological incapacity is a legal concept, not a medical one, where the testimony of a psychologist or psychiatrist as evidence is not mandatory in the declaration of nullity of marriage cases.

This was the recent ruling by the Supreme Court en banc in the case of Tan-Andal v. Andal (GR 196359, May 11, 2021) when it issued a unanimous decision that modified the interpretation of requirements of psychological incapacity, which was penned by my UP Law Professor Justice Marvic Leonen.

The Supreme Court noted in a statement that psychological incapacity refers to a personal condition that prevents a spouse to comply with fundamental marital obligations only in relation to a specific partner that may exist at the time of the marriage but may have revealed through behavior subsequent to the ceremonies.

The totality of the evidence must show clear and convincing proof to cause the declaration of nullity of marriage.

The Supreme Court added that it need not be a mental or personality disorder.

It need not be a permanent and incurable condition. Therefore, the testimony of a psychologist or psychiatrist is not mandatory in all cases.

Previously in Republic v. CA and Molina (GR 108763), the condition must be proven to be medically or clinically permanent or incurable in order to constitute psychological incapacity.

Article 36 of the Family Code holds that “a marriage contracted by any party who, at the time of the celebration, was psychologically incapacitated to comply with the essential marital obligations of marriage, shall likewise be void even if such incapacity becomes manifest only after its solemnization.”

The testimonies of psychiatrist or psychologist are usually mentioned in annulment cases, including those involving seafarers.

In Rolando Cortez v. Luz Cortez (GR

224638, April 10, 2019), the seafarer used the psychiatric evaluation report on his psychological incapacity at the time of the celebration of the marriage, alleging that he was forced to marry the wife without love, and that he had no intention to do his full obligations as a husband.

He argued that he married his wife to be able to work abroad as a seafarer, hence, he is psychologically incapacitated to comply with the essential marital obligations of marriage.

But the Court ruled that such claim does not rise to the level of psychological incapacity that would nullify his marriage.

The petition for declaration of nullity of marriage would fail because the juridical antecedence, gravity and incurability of the parties’ alleged psychological incapacity have not been proven.

Mere “difficulty,” “refusal,” or “neglect” in the performance of marital obligations or “ill will” on the part of the spouse is different from “incapacity” rooted on some debilitating psychological condition or illness.

The seafarer’s claim of lack of realization that he has marital obligation to perform as husband to his wife is not a consideration under Article 36 of the Family Code.

What the law requires is a mental illness that leads to an inability to comply with or comprehend essential marital obligations.

Mere stubbornness or refusal to co-

habit with the other spouse or the act of cohabiting with another person will not be automatically considered as a psychological disorder.

In Republic v. Cabantug-Baguio (GR 171042, June 30, 2008), the clinical psychologist noted in his medical report that the seafarer’s personality disorders including his being a mama’s boy are serious, grave, existing already during the adolescent period and incurable.

He concluded that the seafarer appeared to be dependent upon his family and unable to establish a domicile for his family and to support his family.

In dismissing the case, the Supreme Court ruled that the mere showing of irreconcilable differences and conflicting personalities does not constitute psychological incapacity. Nor does failure of the parties to meet their responsibilities and duties as married persons.

It is essential that the parties to a marriage must be shown to be insensitive to or incapable of meeting their duties and responsibilities due to some psychological (not physical) illness, which insensitivity or incapacity should have been existing at the time of the celebration of the marriage even if it becomes manifest only after its solemnization.

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

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2021: Another ‘annus horribilis’?

Local colleges and universities amid disruptive era Dr. Carl E. Balita

Entrepreneurs’ Footprints

Dr. Rene E. Ofreneo

LABOREM EXERCENS Conclusion

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nother good example is the implementation by some countries of the Alma-Ata Declaration (1978), which calls for the development of a strong primary health care at the community level. This primary health care serves as the fulcrum for the development of other social and economic wellness concerns of the community. Hence, it is an integrated health-economic resiliency program. Such an approach minimizes health expenses by the State and helps transform the communities into cohesive and stronger economic units. Cuba, South Korea, Thailand and Vietnam are models on how this can be done. In Cuba, the barrio doctor even regularly goes around the community to remind people of what to do when an epidemic strikes, such as Covid.

So back to the Philippines, a Peoples Stimulus program can focus on common felt needs of the people in each community such as: health care for all, community preparedness against disasters, survival programs for the needy and wellness program for women and youth. Some concrete doables under a People’s Stimulus program: n Covid proofing communities of the poor by developing the primary health care unit, building community health infrastructures, and transforming the health center as the center of community wellness, economy and culture. n Climate proofing the communities of the poor, which are generally fragile, vulnerable and disasterprone. UN agencies have models for labor-intensive, low-cost infras needed for the upgrading of poor communities in order to make them resilient and sustainable. Specific infra projects can include: concreting of pathways, building a multipurpose community center, dredging canals, fortifying dikes, solarization of homes, etc. n Promotion of grassroots entrepreneurship and economic solidarity

enterprise network. Side by side with this promotion is the inculcation of the values of damayan (helping one another in crisis times), bayanihan (helping one another in starting an enterprise) and tangkilikan (helping one another sustain enterprise growth). There is a growing number of women-led group enterprises and initiatives that show that not only that such values work but also create quantitative and qualitative progressive economic changes at the community level.

The foregoing are only some of possible programs and activities that can help revive the different communities and eventually the national economy as a whole. The question is: Are the technocrats prepared to embrace a different economic tack, one that deviates from the usual trickle-down approach?

One that has the potentials of transforming 2021 into a recovery year, not a replay of last year’s annus horribilis?

Dr. Rene E. Ofreneo is a Professor Emeritus of University of the Philippines.

For comments, please write to reneofreneo@ gmail.com.

Wednesday, May 19, 2021 A9

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ormer actress and businesswoman Ina Alegre-Cruz won as mayor of Pola, a third class municipality in Oriental Mindoro, in 2019. During her campaign, she promised to establish a community college, which she did within a few months from her oathtaking. It was on top of her budget priority. With a budget of P10 million only, she was able to establish the Pola Community College (PCC) through the renovation of the old municipal building and ensured its operational budget for one year.

And in spite of the pandemic, on August 20, 2020, the PCC was inaugurated with all its permits to operate from Commission on Higher Education (CHED) under the presidency of Dr. Carlito Matibag, a former high school principal in Pola.

They now have 120 students in BS Entrepreneurship and BS Public Administration. Mayor Ina is looking forward to offering BS Criminology, BS Education and BS Agriculture, and she has instructed the management to process application for technical vocational courses under the Technical Education and Skills Development Authority.

This writer advised Mayor Ina to offer courses related to what the community needs like agriculture, fisheries, tourism and other related courses, as well as short courses that could prepare graduates for the current demands of the job market.

But according to her, based on their survey, the people have a dream to pursue—a college degree on courses they are familiar with. “Education is their dream and they know what they want and they envision to achieve that through education and as their leader, I follow that lead,” she explains as she admits that she has to respect the wishful thinking of her constituents.

Mayor Ina Alegre has made a legacy for her political career through the Pola Community College and to the people of Pola, the pride comes from the fact that now they have access to free college education. The quality of education becomes sec-

ondary, if not immaterial, to them for as long as they hold on to the dream and that a college degree is all that matters. And the Pola Community College can give them that.

To date, according to Dr. Rene Colocar, the President of the Association of Local Colleges and Universities (ALCU), there are 123 local colleges and universities on record.

With 81 provinces, 146 cities and 1,488 municipalities in the Philippines, expect more local colleges and universities. With the empowered local government units and the incoming 2022 elections, expect a surge in the number of these LCUs. In a country like the Philippines, education is in the Maslow’s second level need—for safety and security.

There are sectors and educators who are criticizing the proliferation of the LCUs for issues of quality and relevance, of scarce resources to support operations, and of the politicized educational system within them. But there are success models of quality and success just like that of the Pamantasan ng Lungsod ng Maynila, the University of Makati, and the Pamantasan ng Lungsod ng Valenzuela, among others. These local universities have proven beyond doubt that the competencies of their graduates are comparable with the graduates of expensive universities and of top state universities. In terms of their development as academic institutions, these universities have the infrastructure, curricula, faculty and research-capabilities at par with

some of the best in the Philippines and in the world. And many LCUs have risen up to the challenge of quality and excellence, relevance and responsiveness, efficiency and effectiveness and access and equity.

It is difficult to generalize on the performance of LCUs given that there are also poor performing Catholic universities and colleges, state universities and colleges, and private colleges and universities. The local colleges and universities are equally trustworthy in pursuing their respective visions and missions as an everevolving and self-developing systems within systems where ever they may operate. If politics is a powerful force governing their operations, ask the church-owned institutions and private-owned schools if they don’t have politics that govern as well.

In the pursuit of what the constitution provides—that the State shall protect and promote the right of all citizens to quality education at all levels and shall take appropriate steps to make education accessible to all—the LCUs are taking their role to bring education closer and affordable to the people. And no one can deprive any LGU or LCU of that mission.

The Local Government Code of 1991 provides for clear mandates to municipalities, cities and provinces to pursue the establishment of educational institution as they may deem fit and as their resources may provide. The CHED has, since the beginning, been supportive of the establishment of the LCUs giving due recognition of their unique identities. The CHED Memorandum Order 32 of 2006 has enabling policies, standards, and guidelines that spelled out the processes towards the establishment and successful operations of the LCUs. The Department of Interior and Local Government, for its part, has also issued the Memorandum Circular # 67 of 2009 providing for the Guidelines on the Establishment of Local Colleges and Universities by Local Governments and on the Operation of Higher Education Program.

And since then, there were developments, memoranda and other

regulatory issuances from various government agencies as well as collaborations and partnerships to enable the LCUs in their purpose of being—a higher education institution for the people who would choose them as their partner in the pursuit of dreams.

What is most noteworthy in the journey of the LCUs is their establishment of the Association of Local Colleges and Universities (ALCU).

Recognizing the importance of education as a potent instrument in nation building and believing that investment in education must be an integral component in the priority programs of every local government in pursuing its education vision for its constituents, the Metro Manila Mayors unanimously made a declaration of commitment on September 4, 1996 to support Local Colleges and Universities by respecting their organic act and implementing guidelines or their establishment and operation.

The Constitution and By Laws of ALCU was approved by the SEC on September 10, 1996. Its main objective is to promote improvement in education, research, and community service among locally-funded institutions of higher learning.

The ALCU was the brainchild of Dr. Benjamin G. Tayabas, then President of PLM. He envisioned differentiating the LCUs from the State Universities and Colleges (SUCs).

This year, the ALCU is celebrating its 25th year through the CHEDALCU First National Higher Education Day. With luminaries in higher education led by the CHED Chairman Secretary Prospero de Vera, the ALCU will leap forward towards the post-pandemic education learning from each other and embracing their mandate as the higher education institutions closest to the people.

Under the leadership of its Board of Director headed by Dr. Rene Colocar, it is ready to face the challenges of the pandemic and navigate towards education in the better normal. And with the local governments sincerely behind them, the LCUs are ready to soar high beyond the pandemic.

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

How worrying is the variant first seen in India? The Rock of Gibraltar: Republic v. Sereno revisited

By Maria Cheng AP Medical Writer

that we know how much of this virus is circulating,” she said.

ONDON—For the first time in months, people across England are meeting indoors at pubs, restaurants, cinemas, gyms and elsewhere as coronavirus rules were relaxed this week.

But Prime Minister Boris Johnson warned Britons to be cautious and some of the scientists advising him say restrictions might need to be reimposed quickly because of a worrying variant first detected in India.

Here’s a look at what we know and don’t know about the variant: What is this variant?

The Covid-19 variant first identified in India has been classified as a “variant of concern” by Britain and the World Health Organization, meaning there is some evidence that it spreads more easily between people, causes more severe disease, or might be less responsive to treatments and vaccines.

“The absolute numbers of cases (of the variant) in the UK remain quite small, but the growth rate is quite high,” said Nick Loman, a professor of microbial genomics at the University of Birmingham.

To date, there have been more than 2,300 cases identified in Britain. Figures released by Public Health England show cases of the variant first detected in India have tripled in the past week and experts say it’s on track to become the most dominant Covid-19 variant in the country.

Maria Van Kerkhove, WHO’s Covid-19 technical lead, said more information was still needed about the variant’s spread globally.

“We need more sequencing, targeted sequencing to be done and to be shared in India and elsewhere so

How transmissible is the variant?

We don’t entirely know. But according to the minutes of an expert group advising the government last week, scientists said “it is a realistic possibility that (the variant first seen in India) is as much as 50 percent more transmissible” than the variant first reported in Britain—whose explosive spread led to the country’s longest lockdown in January.

“There are plausible biological reasons as to why some of the mutations present could make this variant more transmissible,” they concluded. If the variant proves to be 40 to 50 percent more transmissible, the scientists predicted that would “lead to a much larger peak” of cases, hospitalizations and deaths than previous waves of coronavirus—particularly if the government continues with its existing plans to exit lockdown.

Dr. Jeremy Farrar, director of the Wellcome Trust and one of the scientists advising the government, said it was entirely possible the Covid-19 restrictions relaxed on Monday might need to be reintroduced soon if the variant’s spread leads to a spike in hospitalizations and deaths.

“A very careful lifting (of restrictions) is reasonable, but we may have to reverse that,” Farrar warned.

Experts think the next few weeks should provide more details about how quickly the variant identified in India is sickening people and whether that might overwhelm hospitals.

Johnson said any proof the variant identified in India is more dangerous could “pose a serious disruption” to the UK government’s plans to lift all remaining Covid-19 restrictions next month.

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By (Ret.) Justice Noel Gimenez Tijam

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hree years have passed since the Supreme Court En Banc promulgated its historic decision on Republic v. Sereno. Republic v.

Sereno gained traction as a quo warranto petition initiated by the Solicitor General that questioned the eligibility of Maria Lourdes Sereno to hold the position of Chief Justice for lack of proven integrity—a Constitutional qualification for members of the judiciary.

At the core of Republic v. Sereno is the ruling that an invalidly appointed or invalidly elected “impeachable” official may be removed from office through a quo warranto petition. Republic v. Sereno teaches that sans legal qualification, an official has not attained and can never attain the status of an impeachable officer, hence his or her removal may be effected by means other than by impeachment.

The case was controversial because it was unpredictable and was without pedigree. It aroused interest and piqued curiosity, rightfully so, as it was the first quo warranto petition against the “primus inter pares” of the Supreme Court—one conventionally perceived as impeachable.

The once immovable character of impeachment as an exclusive mode of removal was challenged. Because the absence of a precedent is not an excuse to impound inquisition and logic, the case proceeded and Sereno’s ouster was concluded with an 8-6 vote.

Conceived as a slim margin, the 8-6 vote was touted as indicative of a doctrine resting on precarious moor, susceptible to dispute. The margin, however, is not as frail as it appears.

The fact that Republic v. Sereno received vigorous dissents is symptomatic that the outcome underwent an exhaustive vetting process. The ma-

jority votes came from magistrates who carry the common metric of expertise and gravitas. Of the eight, four went on to become Chief Justice, one is the incumbent Ombudsman, the ponente is a current member of the Judicial and Bar Council, another was a former Solicitor General and one was the former Presiding Justice of the Court of Appeals.

More light is shed by the concurrence and dissension. Nine Justices actually agreed that quo warranto is the proper remedy to remove an ineligible incumbent Justice. Ten Justices agreed that impeachment is not the sole mode of ousting an impeachable official. In actuality, the doctrinal value, read narrowly, of Republic v. Sereno that impeachment is non-exclusive carried aconvincing10-4 vote. This signals that any perceived error on the ruling is neither manifest nor egregious to merit abandonment.

A point of conflict is the supposed tremendous power lent by Republic v. Sereno in favor of the Solicitor General to the exposure of Supreme Court Justices. Easily, the discontent lies not on the substantive but on the repercussive. The apprehension suffers from the central flaw that the Supreme Court yields power when, in fact, it merely recognizes the authority of the Solicitor General to institute quo warranto petitions as

Rather than the sword of Damocles, quo warranto, as aptly described in Spykerman v. Levy is the Gibraltar of stability in government tenure. The authority to hold public office and to discharge public duty should not be threatened or disturbed in the absence of a formal challenge.

enunciated by the Rules of Court. The authority of the Solicitor General is defined, confined, and limited. The ultimate decision whether or not to oust rests on the Supreme Court as a judicial, not a body politic. That the concern of the Supreme Court remains to be judicial affords it the very legitimacy it seeks to foster.

Rather than the sword of Damocles, quo warranto, as aptly described in Spykerman v. Levy is the Gibraltar of stability in government tenure.

The authority to hold public office and to discharge public duty should not be threatened or disturbed in the absence of a formal challenge.

This is what we precisely witnessed a year after Republic v. Sereno when a quo warranto petition was lodged against Justice Edgardo delos Santos.

Far from laboring under the specter of anxiety as falsely predicted, the Supreme Court swiftly and correctly acted with the outright dismissal of a procedurally infirm petition.

Despite this, discontented camps seek to abandon, with uncharacteristic haste, Republic v. Sereno, if only to take advantage of the changed composition of the Supreme Court.

The suggested venue for review is a certiorari petition on grounds recycled from the previously dismissed quo warranto petition against Justice delos Santos. This move, if ever

countenanced, is objectionable at several levels.

For one, the requisites for the Supreme Court’s exercise of its power of judicial review are patently absent. Judicial decisions assume the authority of a statute and are binding unless authoritatively set aside.

For another, Republic v. Sereno is a decision with nuances and equities, which are not identical to the current petitions, be it disguised as certiorari or quo warranto. The new Members should be given the benefit of examining the doctrines in Republic v. Sereno in a similar context in order to introduce doctrinal reform, where necessary. Otherwise, any attempt at review will be fairly criticized as results-driven leading to what Justice Marshall disapproves as power, rather than reason, being the currency of the Supreme Court’s decision-making.

The third year anniversary of Republic v. Sereno is an opportune time to acknowledge not only its contribution to the enrichment of jurisprudence but also of its practical significance, especially to the members of the Judiciary. Never in the judicial landscape has the adage “public office is a public trust” been driven with much impetus. It is transformational in the sense that public officers are more mindful of their accountability. It led the JBC to review its selection process. Lest selective memory restricts, Republic v. Sereno pacified the unrest and lifted the uncertainty that hounded the Judiciary. These contributions should be sufficient to accord Republic v. Sereno the enhanced deference it deserves.

The author is a regular member of the JBC representing the academe.

A10 Wednesday, May 19, 2021

Farmer groups seek Congress help in voiding rice-tariff cut EO

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By Jasper Emmanuel Y. Arcalas

@jearcalas

NDUSTRY groups are seeking lawmakers’ intervention to void President Duterte’s Executive Order (EO) 135 reducing the tariffs on rice imports to 35 percent, describing the measure as baseless and detrimental to farmers.

The Federation of Free Farmers (FFF) wrote to both chambers of Congress to seek lawmakers’ intercession in voiding EO 135 while the Samahang Industriya ng Agrikultura (Sinag) wrote to senators, including Senate President Vicente Sotto III, for the same matter.

In its letter to lawmakers, FFF argued that the reduction of rice tariffs is “totally unjustified” and the reasons cited by the Office of the President about the measure are “baseless.”

FFF pointed out that the country’s rice market is already “wide open” for imports from any coun-

try following the enactment of the rice trade liberalization law, which deregulated the industry.

“There is no need to reduce tariffs nor is there any assurance that imports from non-Asean countries will increase simply because of a lowering of tariffs on their rice exports,” it said.

Furthermore, FFF said the country has ample rice supply given the abundant rice harvest and continued arrival of rice imports while retail prices of the staple have remained stable as well.

“Department of Agriculture [DA] Secretary Dar has repeatedly issued public statements that we

have ample stocks. He has not made any statement alluding to any imminent or projected shortage in rice supplies,” it added.

FFF said global prices have “already softened” and an earlier increase in world market prices did not even affect local retail prices.

The group added that there is also “assurance that lower import costs will translate into cheaper prices for consumers” and the best way to address “uncertainties” in supply is to “encourage” higher domestic production.

“If the economic managers fear that traditional suppliers like Vietnam and Thailand may constrict their exports to the country in the coming months, there is also no assurance that countries like India and Pakistan will automatically fill in the slack as a result of lowered tariffs,” it said.

FFF cautioned that the Covid-19 situation in India could “severely restrict” their capacity to export to other countries.

“While Pakistan ranks fourth among the world’s exporters, a large percentage of its exports consists of basmati rice which is too expensive and at the same time not palatable to most Filipinos,” it added.

Given the above-mentioned reasons, FFF asked lawmakers to conduct an investigation on the issuance of EO 135 as it sought the immediate revocation of the measure.

Sinag’s letter

IN a similar move, Sinag wrote to Senators Sotto, Cynthia A. Vilar and Francis Pangilinan to air their concerns regarding EO 135.

“Like a thief in the night, we were all surprised to read EO 135 that significantly reduced the tariff rates on rice,” it said.

“This was done behind our backs; as we, the stakeholders, the Philippine Senate and the economic team of the government were forging a compromise on the MAV [minimum access volume] allocation and pork tariff rates,” it added.

The group argued that there is no problem in the country’s rice sector unlike in the pork industry which has been suffering from African Swine Fever.

“Where is the crisis? Where is the need to augment our supply?”

The group sought the senators’ immediate intervention on the matter and asked for the revocation of the EO “if warranted.”

PHL SUPPLY CHAIN, LOGISTICS FAR FROM BLOCKCHAIN USE

By Tyrone Jasper C. Piad

I

@Tyronepiad

T may take three to five years before the local supply chain and logistics industry adopts blockchain technology as it still lags behind in terms of digitalization, the Supply Chain Management Association of the Philippines (SCMAP) said.

SCMAP President Pierre Carlo Curay, in a virtual event on Tuesday, explained that the local sector has still a long way to go in digitizing logistics processes, which include warehousing, inventory, purchasing, order management and financing.

“Blockchain is purely digitization. You cannot have blockchain if you are not yet digitized,” he explained. “We need to digitalize the operations first before we get to that part of the supply chain.”

Blockchain serves as a digital ledger allowing different parties to access information in a secure manner, Curay said.

“No need to validate or verify because everybody is sharing into the information,” he said.

Such technology eases data sharing, Curay said, especially for more complex supply chains that have many stakeholders in

different countries.

While blockchain is the “future of supply chain,” Curay said this may still be a distant reality for the Philippine supply chain and logistics sector.

Citing YCP Solidiance’s research and analysis, the SCMAP chief noted that 80 percent of the sector is not yet digitized while 43 percent are highly analog and manual.

Some 35 percent of the processes are digitized but only at “low to medium” levels, he added.

Curay said many companies are still arranging or coordinating the transportation, delivery and inventory via phone calls, mobile messages, paper documents or social media messaging platforms.

“It is still a highly manual process and that is where the difficulty lies. It is almost impossible to manage a very complex supply chain from a piece of paper. What is really needed is technology and digitalization,” he explained.

T he lockdow n measures amid the pandemic were an added challenge to the supply chain management as these limit face-to-face interactions, Curay said.

Continued on A2

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, May 19, 2021

B1

Bank, cars boost income of GT Capital by 61% in Q1

G

By VG Cabuag

@villygc

T Capital Holdings Inc., the holding firm of the Ty family, on Tuesday said its income in the first quarter grew 61 percent to P4.1 billion from last year’s P2.5 billion due to the strong performance of its banking and automotive businesses.

Revenues grew 16 percent to P45.35 billion from last year’s P39.01 billion.

“Notwithstanding the recent surge in Covid-19 cases and the reimposition of the enhanced community quarantine [ECQ] in March, we remain optimistic for the rest of the year. We look forward to the escalated vaccine deliveries by the second half, the faster inoculation of the general public, and the re-opening of more sectors of the economy,” GT Capital President Carmelo Maria Luza Bautista said.

Metropolitan Bank and Trust Co.’s net income surged 27 percent

to P7.78 billion in the first quarter from last year’s P6.12 billion, mainly on the rise of non-interest income.

Toyota Motor Philippines had a consolidated net income of P2 billion during the period, 39 percent higher than P1.4 billion last year.

It booked consolidated revenues of P33.9 billion in the first quarter, an 18-percent growth from last year’s P28.8 billion.

Toyota grew retail vehicle sales by 29 percent to 33,095 units in January to March from 25,696 units last year. The automotive sector’s unit sales rose by 6 percent to

74,585 units from 70,730 units in the previous year.

Last February, it launched the New Innova, while it launched the Vios GR Sport and the New Vios in March.

Toyota Philippines remained the country’s number one automotive brand with a record 44.4 percent overall market share in the first quarter.

“Despite the reimposition of the ECQ and the uncertain impact of the safeguard duties on sales of imported vehicles, we delivered strong results in the first quarter of 2021. We are reasonably confident that this momentum will continue throughout the rest of the year,” GT Capital Auto Dealership Holdings Inc. Chairman Vince S. Socco said.

“As quarantine restrictions are lifted, transportation and mobility will be among the essential drivers of economic recovery. Furthermore, we look forward to our entry into the pre-owned vehicle segment, through our joint ventures with JBA Philippines and Premium Warranty, which will continue to expand our automotive value chain footprint.”

Property unit Federal Land Inc. reported a consolidated net income

of P327 million during the period, a 13-percent decline from P375 million last year, due to construction and sales activity restrictions during the quarantine period.

It booked total revenues of P2.4 billion in the first quarter, down by 27 percent from P3.3 billion last year.

Reservation sales for the quarter reached P3.5 billion or less than half of last year’s P7.9 billion.

Lease revenues amounted to P349 million during the period, an 18-percent decline from P428 million last year.

Insurer AXA Philippines’s net income posted an 11-percent decline to P324 million from P367 million in the previous year.

Consolidated life and general insurance gross premiums increased by 32 percent to P12.5 billion from P9.5 billion last year, driven by the life segment, which rose 42 percent year-on-year.

AXA’s performance was driven by higher single premium sales, which grew 86 percent year-on-year. Life insurance sales in annualized premium reached an equivalent of P1.8 billion in the first quarter from P1.5 billion last year, as single premium product sales increased significantly.

Imported vehicle sales surge in April

By Tyrone Jasper C. Piad @TyronePiad

S

ales of imported vehicles grew exponentially in April, supported by the strong recovery in all segments, according to the latest data from the Association of Vehicle Importers and Distributors (AVID).

AVID data released on Tuesday showed that imported vehicle sales reached 4,496 units in April, a substantial improvement from last year’s 18 units.

‘Pandemic effects will be felt until 2022’

I

sidro A. Consunji, chairman and CEO of engineering conglomerate DMCI Holdings Inc., on Tuesday said the economic effects of the pandemic will persist until the end of next year.

Consunji said during the company’s stockholders’ meeting that the company still expects a partial rebound in its operations this year, partly as a result of a strong order book of its construction arm, but a return to its pre-pandemic levels may begin only in 2023.

“Considering the vaccine rollout is only starting, it will probably end by the first quarter of next year. So, the side effects of this pandemic would probably end at the end of 2022,” Consunji said.

He said, however, that most of DMCI Holdings units will see a steady growth in its operations this year.

“DMCI Power will probably continue its steady growth. DMCI Mining will also continue because as long as the Indonesian ore ban continues, and today’s Chinese very bullish market, I hope it will stay buoyant. DMCI Homes will probably be back to its pre-pandemic level by 2023. DMCI Construction, probably next year if we win some of the big-ticket items in the ‘Build, Build, Build’ Program of the government,” he said. VG Cabuag

Total sales from the passenger car (PC) segment for the period skyrocketed to 1,087 units from 7 units in the previous year.

The light commercial vehicle (LCV) segment saw its sales jump to 3,116 units in April from 11 units last year. Commercial vehicle (CV) sales, meanwhile, reached 293 units for the period. AVID noted that the segment recorded zero sales last year. In the first four months, the imported car distributors logged a 40-percent uptick in sales at 20,353 units from the previous year’s 14,572 units.

The LCV segment accounted for the bulk of sales with 14,314 units sold as of end-April, which is 44 percent more than 9,906 units last year. Ford Group Philippines sold the most in this segment with 6,023 units, followed by Suzuki Philippines Inc. with 3,732 units and Hyundai Asia Resources Inc. with 2,069 units.

PC sales improved by 16 percent to 5,328 units in January to April from 4,574 units for the same period in 2020. Suzuki dominated this market after selling 2,658 units for the

period; Hyundai came in second with 1,798 units. CV sales, all of which were accounted for by Hyundai, grew by more than sevenfold to 711 units from last year’s 92 units.

“They say you cannot emerge from challenging times untransformed.

With these encouraging figures, I say we at AVID have boldly transformed ourselves and have become even better at what we do, which is to provide our customers an end-to-end mobility experience that best suits the needs of the times,” AVID President Maria Fe Perez-Agudo said.

SM to build Edsa busway concourses

By Lorenz S. Marasigan @lorenzmarasigan

T

he SM Group is investing P120 million to build 3 concourses for the Edsa Busway, which will be a permanent addition to the transportation options postpandemic.

Steven Tan, the president of SM Supermalls, said his group is building 3 concourse and access bridge facilities near SM North Edsa, SM Megamall, and SM Mall of Asia.

Allowing for a more efficient, safe, and convenient way of boarding and alighting Edsa Busway units, each concourse will feature ticketing booths, automatic fare collection system turnstiles, and concierges.

“SM invested over P120 million for this project. We really aspire to provide a convenient, fast and safe commuting experience—we’re expecting thousands of them daily,” Tan said.

In partnership with the Department of Transportation (DOTr), SM Group broke ground for the project on Tuesday. Actual construction works will start next month, and all three concourse facilities should be completed within 10 months.

Transportation Secretary Arthur Tugade said building such facilities—almost akin to the TransJakarta Bus Rapid Transit—will also have provisions for mobility features intended for the elderly

A city bus running along the Edsa busway. Photo from www.pna.gov.ph

and persons with disability.

“With the Edsa Busway, we are not just changing the system, but also the culture of road usage. We are inculcating the values, discipline and compliance to ordinance for the benefit of the people,” he said.

Transportation Assistant Secretary Mark Steven Pastor noted that the Edsa Busway will be a permanent addition to the transport options for Edsa commuters even after the pandemic.

“For the DOTr, the Edsa Busway is a permanent addition to Edsa, as it will change the landscape of Edsa in general as well as traffic management. We have proven that it is effective as we have reduced travel time from 3.5 hours to 1 hour,” he said.

Pastor noted that the DOTr is currently finalizing the projects for the

construction of other concourses in partnership with listed companies such as Double Dragon and Wenceslao Group.

“We will not stop until we improve the Edsa Busway, that’s why we will introduce more development and upgrades in the Edsa Busway soon,” he said.

Tugade noted that the Edsa Busway System is just part of his group’s efforts to improve the perennial traffic along the main highway in the capital region.

“The Edsa Busway System along with other projects such as the Metro Manila Subway, the massive rehabilitation of the MRT 3 and Edsa Greenways, Bike Lanes, and other projects that we are currently finishing, are important components for what we call the Edsa Transformation.”

SMC builds market for Sariaya farmers

Contributed Photo

By Jasper Emmanuel Y. Arcalas @jearcalas

S

an Miguel Corp. (SMC) on Tuesday said it will open its first “pandemic-resilient” marketplace for farmers and fishers in Sariaya, Quezon that will be jointly managed with the residents of its P352-million relocation community.

SMC said the San Miguel Market, which is the first in Sariaya’s Barangay Castanas, is already 95 percent complete. SMC said in a statement that the marketplace is part of its planned sustainable integrated food complex that seeks to generate jobs for residents, and boost the economy of Quezon province.

“Through this project, the San Miguel Market, farmers and fishermen from Sariaya, Quezon can go into business and earn more from selling their fresh catch and fresh produce, their home-made products, and even our food products, directly to consumers,” SMC President Ramon S. Ang said.

“With this, combined with the 3.5-hectare Sariaya fishermen’s dock we built earlier, Sariaya can be known as a source of the freshest seafood from the province. They can attract many customers aside from the locals. With this, local fishermen can reduce their costs, sell their produce faster, and get better prices.”

The relocation community, dubbed San MiguelChristian Gayeta Homes, comprised of families that were previously living in high-risk coastal areas.

The community features disaster-resilient and environment-friendly homes and is equipped with a multi-purpose area, covered court, livelihood center, day care center and elibrary, the company said.

SMC said the community’s dock can accommodate 100 boats and the area also has a fishermen’s hall that serves as a rest area and storage for about 70 boat engines and other fishing implements. “[The] integrated food complex project will be a game-changer for Sariaya and Quezon province as it will include major food industry investments, including a ready-to-eat food manufacturing facility, a grains terminal, feed mill, poultry dressing plant, a brewery, and international port facilities,” Ang said.

Ang said SMC is “committed to making the lives” of the families “better for the long-term.”

“That is why we did not just stop at just providing them their own homes—we made sure they have good homes in a sustainable community. We are also providing locals all the support they need to boost their livelihood, hence the fishermen’s dock and now, the San Miguel market,” he said.

“Apart from these, we continue to upskill them through training programs. We want to provide them all the opportunities to earn not just stable, but good income.”

B2

Companies BusinessMirror

Wednesday, May 19, 2021

Ang: Petron will continue to deliver strong results

B

By Lenie Lectura

@llectura

arring unforeseen circumstances, Petron Corp. is expected to resume the operations of its Bataan refinery next month and to continue delivering a positive bottom line.

The top official of the country’s largest oil firm in the country said Tuesday that Petron will “continue to deliver good performance unless there is a strict lockdown again.”

Petron booked P1.73 billion in net income in the first quarter, a turnaround from the P4.9-billion net loss posted in the same quarter last year and higher than the P1.2-billion net income in the fourth quarter of 2020.

It temporarily closed down its 180,000-barrels per day refinery in May last year and reopened in October. It again ceased refinery

operations last February 10. Petron President Ramon S. Ang said during the company’s annual stockholders’ meeting that the Bataan refinery would resume operations next month.

“Petron is a modern refinery which we have upgraded only about 5 years ago and the refinery is very competitive and we see no reason for us to shut down the refinery,” he said when asked if Petron would permanently shut down the refinery.

“In fact, we are set to restart the refinery this coming June unless

there is hard lockdown and volume drops tremendously, the refinery is a viable business,” Ang added.

The pandemic has brought down the volume of the oil firm’s revenue by 44 percent last year while sales volumes from both Philippine and Malaysian operations declined by 27 percent. With those numbers, Ang said other companies would not have been able to survive the crisis.

“Luckily, Petron’s balance sheet is very strong. We have prepared the company to be able to weather this kind of storm. Rest assured, this company will survive and make good returns for everyone.”

Petron Chief Financial Officer Emmanuel Eraña said the oil firm has yet to completely overcome the effects of the pandemic as restrictions continue to be implemented worldwide. He is, however, hopeful of a gradual recovery evident in the upward trajectory of volume and income performance of the oil firm in the first quarter of the year.

“We continued to extensively pur-

sue various efficiency and margin enhancement programs to optimize Petron’s refinery assets, and plan to resume refinery operation by the 2nd half of this year.

In December, our Bataan Refinery was granted approval as a registered enterprise by the Authority of the Freeport Area of Bataan (AFAB). This will benefit the company through better timing of payment and accurate tax base for Value Added Tax,” said Eraña.

Petron has set aside P11 billion for its 2021 capital expenditures (capex), higher than the P8.5 billion it allocated last year. The amount covers its ongoing construction of steam generator plants, strategic retail network expansion, and maintenance requirements. Petron has put up 14 new stations in the first quarter with plans to build more for the rest of the year.

This year’s capex will be financed by a combination of internal cash generation and external financing sources.

AirAsia wants ‘bubbles’ for Panglao, Boracay

A

irAsia on Tuesday said it joins calls from business groups and local government units (LGU) to allow leisure travel subject to strict “bubble tourism” for

island destinations, such as Panglao and Boracay.

This comes after Panglao Tourism Council vowed to manage tourist arrivals from various parts of the country, to include those from the NCR Plus (Metro Manila, Bulacan, Cavite, Rizal and Laguna) which is now under general community quarantine with heightened restrictions.

Speaking on behalf of the local government of Panglao and tourism stakeholders, Councilor Aya Montero-Caindec said, “Panglao LGU is equipped to fully operate with our established health and safety guidelines governing the businesses, tourists and local residents to mitigate the spread of virus in our island.”

“If we must, we will again adapt the tourism bubble strategy to ensure a conditioned balance of priority of health and safety and fully work towards unimpeded resuscitation of our tourism economic recovery.”

The Panglao Tourism Council is set to convene on May 21 together with the Panglao Chamber of Commerce and Industry to formalize their request to reopen tourism in the island.

The LGU plans to issue a resolution to include the tourism frontliners on the vaccination roll-out to boost the confidence of tourists who plan to visit Panglao.

The Panglao LGU reported a loss of P124 million in gross tourism receipt for the months of April and May due to the pandemic.

The Boracay Chamber of Commerce (BCC) also appealed to prioritize tourism workers in the vaccine rollout in the island.

Department of Tourism Region 6 earlier reported that Boracay lost P49 billion in potential tourism revenues in 2020 because of the travel restriction.

Last January tourism arrival in the island also fell by 80 percent because of the pandemic. Recto L. Mercene

mutual funds

May 18, 2021 NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

203.36

ATRAM Alpha Opportunity Fund, Inc. -a

1.2417

10.91%

-8.26%

-4.91%

-10.5%

31.26%

-6.75%

0.01%

-5.43%

12.69%

-12.88%

-7.38%

-11.44%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7103 10.85%

-8.31% n.a.

-11.64%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6689 0.18%

-7.89% n.a.

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

-6.25%

-3.59%

-9.35%

3.22%

-10.24%

-8.48%

-6.74% n.a.

-8.79%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7745

4.4794

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 MBG Equity Investment Fund, Inc. -a

92.98

PAMI Equity Index Fund, Inc. -a

11.86% 0.638 24.44%

-9.8%

41.4388

13.31%

-6.64%

-3.93%

-11.55%

Philam Strategic Growth Fund, Inc. - a

437.41

10.74%

-6.48%

-4.23%

-10.55% -8.77%

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

1.0011

18.88% n.a. n.a.

Philequity Dividend Yield Fund, Inc. -a

1.0751

13.73%

-5.52%

-3.03%

-7.97%

Philequity Fund, Inc. -a

31.2239

12.96%

-5.86%

-2.83%

-10.2%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8084

11.35% n.a. n.a.

-11.46%

Philequity PSE Index Fund Inc. -a

4.2471

14.01%

-6.04%

-3.15%

-11.36%

Philippine Stock Index Fund Corp. -a

710.26

14.07%

-5.97%

-3.28%

-11.4%

Soldivo Strategic Growth Fund, Inc. -a

0.6429

11.96%

-10.13%

-6.61%

-10.57%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2417

10.51%

-8.02%

-4.56%

-10.54%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.811 13.52%

-6.33%

-3.44%

-11.63%

United Fund, Inc. -a

-5.92%

-2.07%

-9.62%

-5.79%

-2.66%

2.9997

11.84%

-16.03%

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

95.2892

14.11%

-11.4%

Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.2288

37.65%

3.5%

8.69%

2.15%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7043

38.03%

9.58%

11.36%

1.88%

-3.82%

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

1.6048

7.36%

-2.24%

-2.11%

ATRAM Philippine Balanced Fund, Inc. -a

2.1175

8.63%

-2.97%

-1.49%

-7.35%

First Metro Save and Learn Balanced Fund Inc. -a 2.4689

6.55%

-2.03%

-1.69%

-6.02%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1849

1.71% n.a. n.a.

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

0.04%

-0.07%

-4.76% -7.68%

1.8706

5.23%

PAMI Horizon Fund, Inc. -a

3.4971

6.01%

-1.41%

-1.38%

Philam Fund, Inc. -a

15.6793

6.34%

-1.29%

-1.4%

-7.42%

Solidaritas Fund, Inc. -a

1.9596

7.26%

-2.31%

-1.25%

-6.42%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3237 6.95%

-3.67%

-2.48%

-6.98%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9481

6.3% n.a. n.a.

-7.29%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.846

8.25% n.a. n.a.

-10.87%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8277

9.37% n.a. n.a.

-11.3%

Sun Life Prosperity Dynamic Fund, Inc. -a

6.44%

-8.03%

0.8164

-4.88%

-3.15%

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

$0.0379

0.26%

3%

1.22%

-3.12%

PAMI Asia Balanced Fund, Inc. -b

$1.123

21.22%

2.25%

5.2%

-2.36%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5607 27.76%

7.47%

8.16%

1.06%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1902 14.44%

4.22%

4.54%

-0.99%

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

371.14

2.21%

3.13%

2.5%

0.02%

-6.9%

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

May 18, 2021

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

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

43.2 102.5 80.3 24.4 9.34 45.5 9.3 20.7 55.05 17.1 114.9 74.95 1.25 3.9 0.58 2.91 0.38 904 0.7 155 2,450

44 102.8 80.35 24.5 9.4 45.95 10.16 20.8 57.65 17.96 115.7 75 1.38 3.91 0.63 3.11 0.39 970 0.72 155.9 2,460

43.5 104.5 80.5 24.35 9.5 45.35 9.3 20.9 57.9 17.04 115 75 1.36 3.93 0.58 3 0.38 980 0.67 155 2,470

43.5 105 80.8 24.5 9.5 45.95 9.3 21.2 57.9 17.5 115.7 75.2 1.36 3.95 0.58 3 0.39 980 0.7 156 2,470

43.2 102.5 80.1 24.1 9.32 45.15 9.3 19.96 54.9 16.5 114.5 74.85 1.24 3.89 0.58 2.91 0.38 950 0.67 155 2,460

43.2 102.5 80.35 24.5 9.34 45.95 9.3 20.8 54.9 17.5 115.7 75 1.25 3.91 0.58 3 0.39 950 0.7 156 2,460

2,400 4,887,930 1,379,870 145,400 55,000 4,505,000 1,800 1,964,500 110 220,700 220,950 39,510 317,000 714,000 62,000 129,000 320,000 20 80,000 3,420 35

103,940 503,810,450 110,941,717 3,524,950 513,322 205,512,575 16,740 40,181,199 6,273 3,811,518 25,435,099 2,962,077.50 406,940 2,816,270 35,960 384,010 121,700 19,300 53,840 531,688 86,150

-4,320 -179,891,726 -16,046,270 -669,405 -47,620 -1,196,615 -11,093,290 -765,291 48,682.50 -951,750 5,570 -

INDUSTRIAL AC ENERGY 6.86 6.93 7.1 7.11 6.86 6.86 55,790,700 387,575,137 ALSONS CONS 1.32 1.33 1.34 1.34 1.32 1.33 108,000 142,860 ABOITIZ POWER 22.1 22.2 22 22.35 22 22.1 2,569,600 56,911,280 BASIC ENERGY 0.75 0.76 0.78 0.79 0.72 0.76 39,233,000 29,254,100 FIRST GEN 30.45 30.9 30.5 30.9 30.05 30.9 531,200 16,229,100 FIRST PHIL HLDG 68 69 68.7 69.45 68 68 8,500 584,093 272.2 273.8 273.8 273.8 271.4 273.8 118,110 32,203,968 MERALCO 14.4 14.5 14.48 14.5 14.18 14.5 405,700 5,785,902 MANILA WATER 3.09 3.1 3.1 3.12 3.07 3.09 2,384,000 7,385,710 PETRON 3.84 3.99 3.85 3.99 3.8 3.99 103,000 396,120 PETROENERGY PHX PETROLEUM 13.36 13.58 13.5 13.68 13.36 13.58 418,200 5,664,350 20.5 20.65 20.55 21.3 20.3 20.65 535,100 10,975,150 PILIPINAS SHELL SPC POWER 10.38 10.4 10.42 10.42 10.4 10.4 82,300 856,320 VIVANT 14.5 14.88 14.88 14.88 14.88 14.88 1,300 19,344 AGRINURTURE 6.47 6.58 6.56 6.7 6.47 6.58 6,869,900 45,085,051 AXELUM 3.05 3.06 3.06 3.09 2.94 3.05 912,000 2,744,050 BOGO MEDELLIN 59.2 79 58 58 58 58 100 5,800 12.92 13.24 13.26 13.26 13.26 13.26 1,700 22,542 CNTRL AZUCARERA CENTURY FOOD 22 22.05 22.5 22.5 21.5 22 3,113,900 69,027,750 12.1 12.16 11.8 12.2 11.8 12.1 218,700 2,627,382 DEL MONTE 7.39 7.45 7.45 7.6 7.35 7.45 1,889,100 14,105,032 DNL INDUS 9.4 9.48 9.5 9.5 9.35 9.48 150,300 1,421,302 EMPERADOR 68.1 68.5 68 68.5 67.15 68.5 266,110 18,176,791.50 SMC FOODANDBEV ALLIANCE SELECT 0.61 0.63 0.61 0.61 0.61 0.61 101,000 61,610 FRUITAS HLDG 1.36 1.38 1.39 1.41 1.36 1.38 5,630,000 7,759,390 GINEBRA 63 63.3 62.25 63.8 62 63 439,960 27,744,229.50 JOLLIBEE 167.3 167.7 167.1 169 167 167.3 529,010 88,635,493 LIBERTY FLOUR 28 28.45 28.95 28.95 28 28.45 8,600 241,175 5.79 5.9 5.79 5.93 5.75 5.9 270,700 1,573,410 MAXS GROUP 0.24 0.245 0.26 0.26 0.232 0.245 3,250,000 784,490 MG HLDG 8.05 8.08 7.93 8.08 7.91 8.08 652,100 5,229,816 SHAKEYS PIZZA 1.02 1.03 1.03 1.03 1.01 1.03 1,418,000 1,437,040 ROXAS AND CO 4.54 4.75 4.75 4.76 4.75 4.76 4,000 19,020 RFM CORP SWIFT FOODS 0.128 0.13 0.129 0.135 0.128 0.128 2,730,000 352,270 UNIV ROBINA 131 131.1 134.9 134.9 130 131 742,230 98,385,598 VITARICH 0.81 0.82 0.81 0.82 0.8 0.82 1,164,000 944,900 VICTORIAS 2.38 2.47 2.41 2.41 2.4 2.4 68,000 163,330 CONCRETE A 52.2 55.35 52.15 52.15 52.1 52.1 800 41,710 CONCRETE B 60.1 63.6 63.85 63.85 63.85 63.85 20 1,277 1.16 1.18 1.2 1.2 1.15 1.18 603,000 706,150 CEMEX HLDG 2.45 2.52 2.52 2.57 2.38 2.5 2,303,000 5,697,850 DAVINCI CAPITAL 12.18 12.2 12.26 12.26 12.16 12.2 79,600 972,986 EAGLE CEMENT EEI CORP 6.8 6.85 6.9 6.9 6.7 6.8 44,300 299,759 HOLCIM 5.5 5.55 5.4 5.55 5.4 5.5 231,600 1,270,508 6.31 6.38 6.46 6.56 6.3 6.31 367,900 2,341,953 MEGAWIDE PHINMA 12.3 12.34 12.3 12.3 12.3 12.3 200,000 2,460,000 TKC METALS 1 1.01 1 1.04 0.98 1 413,000 409,420 VULCAN INDL 2.17 2.19 2.29 2.34 2.1 2.17 7,678,000 16,862,780 CROWN ASIA 1.8 1.82 1.83 1.84 1.8 1.8 52,000 95,230 EUROMED 1.85 1.89 1.96 1.96 1.82 1.85 142,000 264,600 LMG CORP 4.56 4.82 4.56 4.56 4.56 4.56 1,000 4,560 4.55 4.68 4.6 4.68 4.6 4.68 9,000 41,560 MABUHAY VINYL PRYCE CORP 5.45 5.64 5.5 5.68 5.45 5.45 244,200 1,331,205 CONCEPCION 20.9 21 21.6 21.6 20.85 21 71,500 1,505,770 3.92 3.94 4.22 4.23 3.71 3.94 24,385,000 96,229,850 GREENERGY 8.67 8.75 9 9.05 8.6 8.67 537,700 4,745,498 INTEGRATED MICR IONICS 1.05 1.06 1.05 1.06 1.05 1.06 169,000 177,680 PANASONIC 5.6 5.83 5.8 5.8 5.8 5.8 4,500 26,100 SFA SEMICON 1.25 1.29 1.3 1.3 1.23 1.29 373,000 469,860 CIRTEK HLDG 5.35 5.41 5.57 5.58 5.25 5.41 2,864,500 15,478,395

-14,319,725 -26,540,935 -2,118,530 -2,086,780 -146,125 -9,030,696 70,988 -3,992,810 -507,280 2,812,590 5,225 1,307,020 4,605,020 121,000 -3,156,471 -54,292 -3,692,159.50 -128,340 17,095,017.50 -29,916,057 443,717 30,870 1,601,147 -24,320 -22,349,618 -80,000 -16,210 404,710 1,068,788 -792,346 -2,460,000 52,880.00 36,990 1,159,250 -100,850 -2,177,713 63,650 944,559

HOLDING & FRIMS ABACORE CAPITAL 0.94 0.95 0.98 0.98 0.91 0.94 10,994,000 10,341,640 ASIABEST GROUP 7 7.35 7.4 7.4 7 7.03 10,800 75,973 AYALA CORP 709.5 710 712 718 708 710 218,720 155,873,670 ABOITIZ EQUITY 34.85 35 34.75 35.25 34.6 34.85 606,900 21,145,485 ALLIANCE GLOBAL 10.4 10.44 10.2 10.5 10.2 10.4 1,497,800 15,528,230 AYALA LAND LOG 2.95 2.97 3 3 2.94 2.96 601,000 1,784,910 6.63 6.81 6.81 6.81 6.81 6.81 2,000 13,620 ANSCOR ANGLO PHIL HLDG 0.7 0.71 0.68 0.71 0.68 0.7 1,925,000 1,333,050 0.66 0.67 0.68 0.68 0.64 0.67 2,782,000 1,830,840 ATN HLDG A ATN HLDG B 0.65 0.67 0.68 0.68 0.67 0.67 212,000 143,160 COSCO CAPITAL 4.93 4.94 4.95 4.97 4.91 4.94 6,282,000 31,062,970 5.46 5.47 5.45 5.48 5.42 5.46 3,027,900 16,501,699 DMCI HLDG FILINVEST DEV 8 8.28 8.01 8.29 8 8.29 14,200 113,668 FORUM PACIFIC 0.255 0.275 0.265 0.28 0.26 0.28 830,000 218,250 GT CAPITAL 528 530 520 530 518.5 530 85,990 45,299,200 HOUSE OF INV 3.2 3.36 3.37 3.37 3.35 3.36 44,000 148,000 JG SUMMIT 50.4 50.8 51 51.55 49.5 50.4 1,417,480 71,869,916.50 0.8 0.81 0.83 0.84 0.79 0.8 2,430,000 1,966,260 LODESTAR 3.06 3.31 3.05 3.34 3.05 3.08 62,000 191,840 LOPEZ HLDG LT GROUP 12.98 13 13.04 13.04 12.88 12.98 1,225,000 15,898,138 3.75 3.77 3.85 3.85 3.73 3.75 13,579,000 50,961,090 METRO PAC INV 3.53 3.62 3.65 3.65 3.51 3.51 6,000 21,240 PACIFICA HLDG PRIME MEDIA 2.64 2.66 2.69 2.69 2.55 2.64 1,038,000 2,715,860 SOLID GROUP 1.14 1.2 1.16 1.2 1.13 1.2 141,000 161,290 SYNERGY GRID 385 398 410 410 385 385 100 39,000 SM INVESTMENTS 916.5 927 915.5 927 905 927 226,990 208,113,210 SAN MIGUEL CORP 114.4 114.5 117 117 114.5 114.5 48,710 5,593,791 SOC RESOURCES 0.63 0.66 0.65 0.66 0.63 0.66 308,000 197,610 2.05 2.29 2.09 2.09 2.05 2.05 44,000 90,480 SEAFRONT RES TOP FRONTIER 129.3 133.4 133.9 133.9 133.7 133.7 110 14,709 ZEUS HLDG 0.2 0.206 0.206 0.206 0.198 0.2 11,470,000 2,303,110

1,257,090 -47,840 -87,702,790 -15,379,425.00 4,113,942 11,470 39,330.00 -5,194,550 -1,178,438 -762,010 -57,290 -38,112,028.50 243,000 2,349,632 -28,773,960 -34,270 -128,391,480 -1,864,121 -

PROPERTY ARTHALAND CORP 0.61 0.62 0.63 0.63 0.61 0.62 889,000 551,220 ANCHOR LAND 7.51 7.76 7.58 7.58 7.58 7.58 2,800 21,224 AYALA LAND 32 32.1 32.25 32.65 31.9 32 16,567,400 533,603,020 ARANETA PROP 1.15 1.26 1.18 1.18 1.15 1.15 205,000 237,130 AREIT RT 35.1 35.2 35 35.25 34.2 35.1 2,455,700 86,001,775 BELLE CORP 1.37 1.39 1.36 1.39 1.3 1.37 1,018,000 1,350,790 0.91 0.92 0.9 0.92 0.88 0.92 1,485,000 1,327,050 A BROWN CITYLAND DEVT 0.85 0.86 0.89 0.89 0.84 0.85 510,000 437,260 CROWN EQUITIES 0.117 0.124 0.125 0.127 0.118 0.12 5,800,000 692,390 5.84 5.85 5.95 5.95 5.8 5.84 493,200 2,897,440 CEB LANDMASTERS 0.39 0.4 0.4 0.405 0.39 0.4 4,620,000 1,853,050 CENTURY PROP CYBER BAY 0.31 0.32 0.315 0.33 0.31 0.31 470,000 147,250 DOUBLEDRAGON 12.02 12.12 12.2 12.28 11.74 12.12 1,128,700 13,669,492 DDMP RT 1.94 1.95 1.95 1.98 1.92 1.94 12,684,000 24,673,300 DM WENCESLAO 6.88 6.89 6.89 6.89 6.8 6.88 23,000 157,287 EMPIRE EAST 0.265 0.27 0.265 0.265 0.265 0.265 250,000 66,250 EVER GOTESCO 0.145 0.146 0.15 0.15 0.14 0.145 24,460,000 3,524,610 1.09 1.1 1.1 1.1 1.04 1.09 5,699,000 6,161,430 FILINVEST LAND 0.82 0.85 0.82 0.82 0.82 0.82 22,000 18,040 GLOBAL ESTATE 8990 HLDG 7.13 7.18 7.12 7.13 7.12 7.13 20,300 144,661 1.32 1.38 1.35 1.38 1.3 1.38 1,897,000 2,514,850 PHIL INFRADEV 1.45 1.46 1.52 1.6 1.35 1.45 2,532,000 3,629,960 CITY AND LAND 2.83 2.84 2.78 2.87 2.75 2.83 52,754,000 149,131,270 MEGAWORLD MRC ALLIED 0.35 0.355 0.37 0.38 0.345 0.35 36,430,000 12,988,650 PHIL ESTATES 0.5 0.51 0.475 0.5 0.44 0.5 16,790,000 7,815,200 PRIMEX CORP 3.3 3.31 3.37 3.37 3.25 3.3 1,586,000 5,222,750 ROBINSONS LAND 15.62 15.7 16.14 16.18 15.62 15.62 4,358,800 68,715,166 PHIL REALTY 0.245 0.249 0.246 0.246 0.245 0.245 180,000 44,130 1.5 1.53 1.5 1.5 1.5 1.5 57,000 85,500 ROCKWELL SHANG PROP 2.6 2.61 2.61 2.61 2.6 2.61 18,000 46,970 STA LUCIA LAND 2.3 2.35 2.29 2.45 2.29 2.35 103,000 248,680 33.65 33.7 33.2 33.95 33.05 33.7 4,611,600 154,737,950 SM PRIME HLDG 3.66 3.81 3.65 3.81 3.65 3.81 8,000 29,660 VISTAMALLS SUNTRUST HOME 1.4 1.42 1.43 1.43 1.38 1.4 1,719,000 2,411,110 VISTA LAND 3.42 3.44 3.41 3.49 3.4 3.44 668,000 2,286,850

SERVICES ABS CBN 10.9 11 11 11.08 10.86 10.9 115,600 1,268,648 GMA NETWORK 9.08 9.09 8.86 9.1 8.8 9.09 3,286,100 29,371,401 MLA BRDCASTING 9.52 10.42 9.74 10.46 9.36 10.46 1,100 10,444 GLOBE TELECOM 1,832 1,847 1,830 1,847 1,812 1,847 24,015 44,049,215 PLDT 1,285 1,287 1,270 1,290 1,269 1,287 176,050 225,602,510 APOLLO GLOBAL 0.173 0.174 0.176 0.177 0.16 0.173 409,650,000 69,606,800 19.28 19.3 18.96 19.36 18.84 19.3 10,640,200 204,322,794 CONVERGE 3.87 3.9 3.96 4.12 3.81 3.9 936,000 3,645,970 DFNN INC 7.63 7.64 8 8.1 7.2 7.64 84,316,300 640,737,428 DITO CME HLDG 1.47 1.67 1.52 1.52 1.47 1.52 20,000 30,250 IMPERIAL JACKSTONES 2.11 2.2 2.2 2.2 2.2 2.2 20,000 44,000 NOW CORP 2.22 2.23 2.32 2.32 2.14 2.22 2,670,000 5,966,390 TRANSPACIFIC BR 0.355 0.36 0.39 0.39 0.345 0.355 11,740,000 4,197,650 PHILWEB 2.49 2.5 2.55 2.55 2.45 2.49 458,000 1,150,140 2GO GROUP 8 8.2 8.2 8.2 8 8.2 70,700 568,090 ASIAN TERMINALS 15 15.28 15.3 15.38 15 15.28 35,900 541,836 CHELSEA 2.66 2.76 2.75 2.79 2.64 2.76 990,000 2,666,660 46.7 46.85 47.05 47.2 46.4 46.7 109,700 5,135,300 CEBU AIR 139.5 139.9 138 140 138 139.9 1,260,100 176,149,564 INTL CONTAINER 15.82 16.9 16.06 16.98 16.06 16.9 3,000 50,228 LBC EXPRESS LORENZO SHIPPNG 0.98 1.03 0.96 1.03 0.96 1.03 2,000 1,990 MACROASIA 4.23 4.25 4.3 4.35 4 4.25 1,795,000 7,493,970 1.97 2.04 2.07 2.07 1.93 2.04 401,000 808,350 METROALLIANCE A METROALLIANCE B 2.09 2.59 2.25 2.25 2.25 2.25 30,000 67,500 PAL HLDG 5.5 5.6 5.71 5.71 5.5 5.6 24,800 138,434 HARBOR STAR 1.18 1.19 1.26 1.27 1.18 1.19 767,000 921,620 ACESITE HOTEL 1.51 1.62 1.51 1.62 1.51 1.62 51,000 77,120 BOULEVARD HLDG 0.076 0.077 0.08 0.08 0.073 0.077 79,930,000 6,051,480 2.47 2.85 2.75 2.85 2.3 2.85 390,000 990,040 DISCOVERY WORLD 0.5 0.51 0.54 0.54 0.5 0.51 2,390,000 1,210,920 WATERFRONT 6.51 6.78 6.51 6.51 6.51 6.51 700 4,557 CENTRO ESCOLAR STI HLDG 0.325 0.335 0.335 0.34 0.325 0.325 3,770,000 1,243,050 4.6 4.9 4.8 4.8 4.8 4.8 7,000 33,600 BERJAYA BLOOMBERRY 6.35 6.4 6.01 6.4 6.01 6.4 2,379,400 14,695,736 PACIFIC ONLINE 2.04 2.1 2.06 2.1 2.03 2.1 152,000 311,010 LEISURE AND RES 1.43 1.51 1.58 1.58 1.44 1.5 226,000 331,410 MANILA JOCKEY 2.04 2.07 2.05 2.05 2.04 2.04 14,000 28,600 PH RESORTS GRP 1.74 1.75 1.76 1.8 1.69 1.75 2,960,000 5,085,620 PREMIUM LEISURE 0.395 0.4 0.39 0.4 0.385 0.395 4,540,000 1,768,400 5.9 5.95 5.9 5.95 5.9 5.95 4,200 24,790 PHIL RACING ALLHOME 7.35 7.39 7 7.4 6.99 7.35 636,200 4,651,024 1.23 1.24 1.25 1.26 1.23 1.24 830,000 1,031,190 METRO RETAIL 34.6 34.65 33.55 34.95 33.55 34.6 3,882,400 134,360,730 PUREGOLD 49.3 49.5 48.9 49.9 48.6 49.5 624,600 30,928,920 ROBINSONS RTL 107.4 111 110 110.1 107.4 110 545,060 59,959,927 PHIL SEVEN CORP SSI GROUP 1.13 1.14 1.16 1.16 1.12 1.13 2,944,000 3,359,430 WILCON DEPOT 17.6 17.94 17.88 17.94 17.3 17.94 1,744,500 30,838,668 APC GROUP 0.35 0.36 0.355 0.355 0.35 0.35 2,500,000 881,250 EASYCALL 5.92 6.1 6.47 6.47 5.92 6.1 37,400 225,560 IPM HLDG 4.53 5.09 4.54 4.54 4.53 4.53 5,000 22,690 PAXYS 2.33 2.48 2.33 2.33 2.33 2.33 4,000 9,320 1.55 1.56 1.69 1.7 1.34 1.56 73,877,000 110,001,140 PRMIERE HORIZON 3.49 4.09 4.01 4.1 3.8 4.09 12,000 47,760 SBS PHIL CORP

MINING & OIL

20,460 -93,887,450 -115,000 -11,309,750 -14,120 23,000 -9,375 -3,224,464 21,990 -10,335 -1,632,920 71,300 -21,100 159,040 25,863,870.00 -2,290,750 59,250 3,653,950 -36,654,794 -122,400 -61,612,490 -370,940 -9,369,665 89,220,900 2,633,500 -5,524,156 661,920 12,950,737 96,410.00 215,700 -213,100 4,863 -4,640 116,380 -1,357,260 36,373,429 -2,196,250.00 -330,880 59,200 23,180 -464,830 -888,100 -3,543,818 121,300 3,900 2,969,430 2,500 54,829,695.00 5,893,900 580,498 -543,740 -11,056,862 1,065,930 -

ATOK 8.61 8.7 8.84 8.95 8.5 8.7 853,100 7,427,023 -73,776 APEX MINING 1.67 1.68 1.65 1.7 1.59 1.67 6,460,000 10,629,540 -9,440 ATLAS MINING 7.72 7.79 7.75 7.93 7.65 7.75 900,700 6,967,054 311,376 BENGUET A 2.93 3.05 2.92 3.05 2.92 3.05 94,000 274,860 Ekklesia Mutual Fund Inc. -a 2.2611 -0.75% 2.29% 1.52% -1.52% BENGUET B 2.78 2.9 2.84 2.9 2.83 2.9 32,000 91,030 0.31 0.32 0.315 0.325 0.31 0.325 990,000 310,400 COAL ASIA HLDG First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4334 0.39% 3.17% 1.75% -0.81% CENTURY PEAK 2.8 2.85 2.85 2.85 2.78 2.85 23,000 65,260 42,600 6.88 6.99 6.88 6.99 6.84 6.99 7,000 48,214 DIZON MINES Philam Bond Fund, Inc. -a 4.48 -0.74% 4.2% 1.7% -3.34% FERRONICKEL 2.59 2.6 2.54 2.61 2.49 2.6 4,414,000 11,280,260 1,347,430 0.31 0.315 0.3 0.315 0.3 0.31 660,000 203,250 -6,300 GEOGRACE Philam Managed Income Fund, Inc. -a,6 1.3229 3.21% 4.3% 2.77% 0.13% 0.156 0.158 0.159 0.164 0.152 0.156 94,460,000 14,815,300 LEPANTO A LEPANTO B 0.158 0.163 0.16 0.163 0.158 0.163 1,360,000 217,670 16,000 Philequity Peso Bond Fund, Inc. -a 3.9704 2.16% 4.39% 2.47% -0.77% MANILA MINING A 0.013 0.014 0.014 0.014 0.013 0.013 816,500,000 10,616,900 MANILA MINING B 0.013 0.014 0.014 0.014 0.013 0.013 136,500,000 1,907,400 21,000 Soldivo Bond Fund, Inc. -a 1.0271 0.61% 4.26% 1.74% -1.43% MARCVENTURES 1.27 1.3 1.28 1.3 1.25 1.28 960,000 1,227,350 -7,820 NIHAO 1.38 1.43 1.49 1.49 1.38 1.38 183,000 255,140 13,800.00 Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1934 2% 5.21% 2.77% -0.39% 5.4 5.43 5.38 5.41 5.31 5.4 5,023,900 26,988,832 -2,257,043 NICKEL ASIA Sun Life Prosperity GS Fund, Inc. -a

1.7416 0.74% 4.49% 2.09% -0.76% 0.365 0.385 0.375 0.375 0.365 0.365 140,000 51,600 OMICO CORP ORNTL PENINSULA 0.93 0.95 0.95 0.97 0.93 0.93 563,000 532,470 104,500 Primarily invested in foreign currency securities 6.64 6.69 6.6 6.77 6.47 6.69 2,850,400 18,759,069 -493,000 PX MINING 12.6 12.62 12.5 12.66 12.42 12.62 663,500 8,317,680 49,576 SEMIRARA MINING ALFM Dollar Bond Fund, Inc. -a $484.02 3.19% 3.13% 2.3% 0.03% 0.0095 0.0096 0.0098 0.0098 0.0096 0.0096 59,000,000 572,000 29,000 UNITED PARAGON ACE ENEXOR 15.4 15.8 15.8 16 15.4 15.8 268,700 4,195,946 96,612 ALFM Euro Bond Fund, Inc. -a Є219.75 2.61% 1.1% 1.21% 0.26% ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.012 184,900,000 2,045,200 ORNTL PETROL B 0.012 0.013 0.013 0.013 0.012 0.013 40,700,000 489,000 ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1737 -1.78% 1.84% 1.04% -8.33% PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.011 58,000,000 639,000 33,000 PXP ENERGY 6.3 6.36 6.84 6.84 6 6.3 3,072,600 19,449,620 -533,153 First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 0.78% 1.59% 0.87% -2.63%

PREFFERED PAMI Global Bond Fund, Inc -b $1.0471 -0.42% 0.64% -0.74% -4.17% HOUSE PREF B 99.5 101 101 101 101 101 1,050 106,050 Philam Dollar Bond Fund, Inc. -a $2.4827 3.64% 5.15% 2.08% -2.09% HOUSE PREF A 100 101.5 100 100 100 100 10 1,000 AC PREF B1 520 531.5 520 520 520 520 20,010 10,405,200 Philequity Dollar Income Fund Inc. -a $0.0627589 5.22% 3.51% 2.2% 0.71% CEB PREF 43.9 43.95 44 44.05 43.9 43.9 45,800 2,014,085 -188,955 DD PREF 100.6 101.4 101.4 101.4 101.2 101.4 7,400 749,030 Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1382 -0.6% 2.89% 0.92% -2.65% GLO PREF P 505 507 505 505 505 505 13,960 7,049,800 991 1,005 1,005 1,005 1,005 1,005 200 201,000 GTCAP PREF A Money Market Funds GTCAP PREF B 1,035 1,046 1,046 1,046 1,046 1,046 10 10,460 MWIDE 100.5 101 101 101 101 101 100 10,100 PREF Primarily invested in Peso securities MWIDE PREF 2A 100 101 101 101 101 101 10 1,010 MWIDE PREF 2B 101 101.5 101 101 101 101 1,500 151,500 ALFM Money Market Fund, Inc. -a 130.08 1.96% 3.1% 2.52% 0.21% PNX PREF 3B 104 104.5 104.5 104.5 104.5 104.5 100 10,450 PNX PREF 4 999 1,007 1,003 1,007 1,003 1,007 300 301,100 First Metro Save and Learn Money Market Fund, Inc. -a 1.0514 1.27% n.a. n.a.

0.31% PCOR PREF 2B 1,017 1,038 1,023 1,039 1,017 1,039 305 311,655 PCOR PREF 3A 1,090 1,098 1,090 1,090 1,090 1,090 3,260 3,553,400 Sun Life Prosperity Money Market Fund, Inc. -a 1.3035 1.91% 2.89% 2.57% 0.53% PCOR PREF 3B 1,147 1,150 1,150 1,150 1,147 1,150 40 45,985 Primarily invested in foreign currency securities SFI PREF 1.66 1.87 1.67 1.67 1.67 1.67 3,000 5,010 78.6 79.9 78.5 79.9 78.5 79.9 530 42,123 5,495 SMC PREF 2C Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0568 1.41% 1.71% n.a.

0.42% 77 77.35 77 77 77 77 3,560 274,120 SMC PREF 2E SMC PREF 2F 78.85 79 78.8 78.8 78.8 78.8 1,000 78,800 Feeder Funds SMC PREF 2H 77.55 78 78 78 77.55 77.55 1,310 101,730 SMC PREF 2J 77 77.3 77 77 77 77 500 38,500 -38,500 Primarily invested in Peso securities 75.85 76.95 76 76 75.85 75.85 903,100 68,501,860 -646,000 SMC PREF 2K

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.2184 n.a. n.a. n.a. 7.86% PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 8.58 8.65 8.35 8.6 8.35 8.6 476,200 4,033,756 -26,860 Primarily invested in foreign currency securities

WARRANTS ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 10% n.a. n.a.

1.02% LR WARRANT 1.35 1.36 1.45 1.49 1.32 1.35 1,388,000 1,903,930 99,360.00

SMALL & MEDIUM ENTERPRISES 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).

ALTUS PROP 16.3 16.78 17.04 17.48 16 16.78 519,600 8,449,856 -5,449,048 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.

ITALPINAS 2.24 2.25 2.32 2.32 2.21 2.25 810,000 1,823,210 KEPWEALTH 5.08 5.11 5.11 5.11 5.08 5.08 4,000 20,385 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

MERRYMART 3.95 3.96 4.09 4.12 3.65 3.95 26,085,000 101,055,880 1,974,900

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

EXHANGE TRADE FUNDS

"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 FIRST METRO ETF 94.7 96 96 96.5 94.7 94.7 37,920 3,611,027.50 577,520 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."

ATRAM Corporate Bond Fund, Inc. -a

1.9132

-0.96%

0.91%

0.16%

0.68%

Cocolife Fixed Income Fund, Inc. -a

3.2236

1.56%

3.88%

4.4%

0.28%

www.businessmirror.com.ph

Banking&Finance

ADB-backed LGRP eyed boosting LGUs’ tax take

By Bernadette D. Nicolas @BNicolasBM

C

AN digitalization enhance the ability of local government units (LGUs) to collect taxes? Finance Secretary Carlos G. Dominguez III believes so.

In his opening remarks during an online event, Dominguez said the Local Governance Reform Project (LGRP) supported by Manila-based Asian Development Bank (ADB) will help boost LGUs’ revenue collection as government scrambles for cash amid a lingering economic recession.

Chaired by Dominguez, the Interagency Governing Board (IGB) for the LGRP held its first meeting virtually via Zoom on Tuesday, weeks after the body was formally created following President Duterte’s signing of Administrative Order (AO) 40 last April 27.

The LGRP will entail LGU’s adoption of new digital tools and improvement of institutional development and policy support for property valuation and collection.

In partnership with the ADB, the IGB is also expected to provide policy direction and exercise oversight functions over the project.

Dominguez said the IGB will focus on the following: discuss the contents of AO 40; identify key deliverables for this year; determine the status of the project; and, decide on the appointment of official representatives to the body.

The secretary of the Department of Finance (DOF) also said the IGB will play a lead role in strengthening the country’s local governance framework, ensure the attainment of the LGRP’s major outputs within its implementation timetable and monitor the compliance of executing agencies and other stakeholders.

“At both national and local levels, we need to optimize our revenue generation powers and improve tax administration to raise necessary funds for our Covid-19 response efforts and economic recovery program. Even as we stretch resources to stimulate the economy, we must continuously build up our fiscal resilience,” Dominguez said.

“I trust that everyone in this

room will be up to the task of assisting our local government units in providing efficient, transparent, and accountable services in their respective communities. All these efforts will help boost our economic recovery and reduce poverty in the countryside,” he added.

“To the ADB and the Philippine public, I assure you that the measures that we will be undertaking through the [LGRP] will be fully functional and irreversible,” he added.

Under AO 40, the DOF-attached Bureau of Local Government Finance (BLGF) will serve as the executing agency of the LGRP, with several key government agencies as implementing partners. The latter include the following: the National Economic and Development Authority (Neda); Department of Budget and Management (DBM); Department of Interior and Local Government; Department of Information and Communications Technology (DICT); and, the Bureau of Internal Revenue (BIR).

The IGB will have Finance Undersecretary C. Tionko of the DOFRevenue Operations Group (ROG) as alternate chairperman.

The IGB members are composed of the following: officials from the Neda, DILG, DICT, BLGF and BIR; one representative each from the League of Provinces of the Philippines, League of Cities of the Philippines and League of Municipalities of the Philippines; a representative from a non-government organization, which may be a women’s organization; and, a representative from the private sector.

The loan agreement for the $26.53-million project was signed between the Government of the Philippines and the ADB in July last year.

According to the ADB, the LGRP aims to help LGUs improve real property tax collection by strengthening property valuation mechanisms, introducing new digital tools for transparent and accurate reporting and updating tax maps and property valuation assessments.

The project will also help LGUs build “a cadre of competent, professional local assessors through capacity development and knowledge partnerships.

Treasury fully awards ₧35-B reissued 7-yr T-bills

T

HE Bureau of the Treasury fully awarded P35-billion in reissued 7-year Treasury Bonds (T-bonds) on Tuesday’s auction as investor demand for government securities remained.

The tenor fetched an average rate of 3.678 percent, jumping by 14.9 basis points from 3.529 percent in the previous auction.

With a remaining term of 6 years and 11 months, the tenor is set to mature on April 22, 2028.

It carries a coupon rate of 3.625 percent.

National Treasurer Rosalia V. De Leon said with markets still pricing inflation risks, the uptick in the average rate was expected.

Philippine Statistics Authority data revealed the country’s inflation rate in April remained from its March level of 4.5 percent, driven mainly by spikes in food prices and transportation.

This rate was still higher than the 2.2 percent recorded in April 2020.

Monetary authorities last week said the inflation rate is now likely to average within the 2-to-4-percent target band for the year. The Bangko Sentral ng Pilipinas (BSP) downgraded its inflation forecast for this year to 3.9 percent from its previous projection of 4.2 percent in February.

The BSP attributed the downward revision to the impact of the lower tariff on imported pork and the lower-than-expected inflation for March and April.

Strong investor appetite marked the primary auction with total bids reaching P84.3 billion, more than double the P35-billion offer. The demand for government securities prompted the Treasury to open the tap facility for an additional P10-billion offering.

For this week, the Treasury has so far raised a total of P65 billion from selling government securities, including the P25 billion in T-Bills it awarded on Monday’s primary auction and the P5-billion in T-bills it also sold through tap facility auction on the same day.

For this month, the government aims to borrow a total of P170 billion from the local debt market, the same level it programmed to borrow in April.

The national government’s outstanding debt has reached a new record-high of P10.77 trillion as of end-March this year, up by 27.1 percent from P8.48 trillion a year ago.

The country aims to borrow a total of P3.03 trillion this year, roughly the same amount it borrowed last year. Bernadette D. Nicolas

BusinessMirror

Wednesday, May 19, 2021

B3

Estate tax amnesty bill inches closer to getting Senate nod

T

By Butch Fernandez

@butchfBM

HE Senate is on track to pass an awaited remedial legislation extending the period for availing the proposed amnesty on estate taxes.

Inching closer to a plenary vote, Senator Pilar Juliana “Pia” S. Cayetano, who chairs the sponsoring Ways and Means Committee that held hearings on Senate Bill (SB) 2208, assured that the enabling legislation is projected to provide “economic relief to many Filipinos.”

“Our current condition necessitates and justifies the need to pass this measure at this appropriate time.,” the Senator said in sponsoring the bill for early approval. “Surely, its enactment can provide economic relief for many Filipinos during this time of global health and economic crisis.”

In seeking early passage of SB 2208, Cayetano clarified that Committee Report 256 updates the existing law by amending Section 6 of Republic Act (RA) 11213 or the Tax Amnesty Act. She stressed that “our current condition necessitates and justifies the need to pass this measure at this appropriate time,” the Senator said.

“Surely, its enactment can provide economic relief for many Filipinos during this time of global health and economic crisis.”

Cayetano recalled that the existing law passed in 2019 as RA 11213, otherwise known as the Tax Amnesty Act, gave taxpayers a onetime opportunity to settle their tax obligations, including an Estate Tax Amnesty program, adding that filing of estate tax amnesty returns took effect on June 15, 2019, granting a reasonable tax relief to estates with outstanding tax liabilities.

“In particular, estates of decedents who died on or before December 31, 2017 and whose estate taxes have not been paid or have accrued

as of December 31, 2017 are given the period of June 15, 2019 until June 14, 2021, to file their estate tax returns. This deadline is only a few weeks away,” she added.

In a statement, the lawmaker lamented that “unfortunately, just ten months after the law was enacted— in March 2020—a global pandemic hit us, disrupting our daily lives, sending us into lockdowns and affecting our ways of doing business.”

Cayetano clarified that due to the strict travel restrictions and stalled economic activities in the time of Covid-19, many Filipinos have been unable to file their tax returns and settle their tax obligations. She added that the community quarantines imposed in different parts of the country prevented taxpayers from availing of the tax amnesty mandated by law.

Recalling data cited by the Bureau of Internal Revenue (BIR) during the Senate committee hearing, Cayetano noted the BIR’s collected revenue from the estate tax amnesty program was only around P2.5 billion, which was below its expected estimated additional revenue of P6.28 billion.

“Having said these, the Committee deems it appropriate that we extend the period of availment of the estate tax amnesty for another two years, in order to allow Filipinos who have not been able to affordably settle their outstanding tax liabilities during the period, to do so,” the senator said. “At the same time, extending the program will also provide the government with additional revenues that will fund priority programs for the benefit of the people.”

According to Cayetano, the pro-

The Senate building. Senator Pia Cayetano recently said the Upper House is nearing the approval of a proposed tax amnesty bill.

posed measure is essentially identical to House Bill 7068 transmitted from the Lower House.

“In the interest of time due to our limited session days and the upcoming June 14, 2021, expiration of the Estate Tax Amnesty, we did not deviate from the House version. Thus, we extended the period to avail of the estate tax amnesty from June 15, 2021 until June 14, 2023,” Cayetano said. “And, we introduced one new amendment, which is the removal of the requirement of the proof of settlement in order to avail of the estate tax amnesty.”

She recalled that during the Senate hearing, resource persons noted one main reason for non-availment of the estate tax amnesty is the fact that the heirs could not produce “proof of settlement,” required in the Tax Amnesty Act, prompting the Committee to decide, after hearing all the resource persons, ‘to delete this requirement given that under the laws of succession, ownership is transmitted upon the death of the decedent, whether or not it has been supported by any judicial or extrajudicial form.”

Moreover, Cayetano assured the endorsed legislation is expected to “further help our economy recover as Estate Tax Amnesty will allow access to previously locked assets.” She noted that the assessment of the National Tax Research Center states that “the grant of estate amnesty will unlock

Celebrating communication excellence

F

OUR Philippine entries have won the 2021 Gold Quill Awards bestowed by the International Association of Business Communicators (IABC) headquartered in Chicago, USA. These are the Ayala Group of Companies, Union Bank of the Philippines, Megaworld Foundation and the Financial Executives Institute of the Philippines (Finex) in tandem with Media Wise Communications.

“Stronger Together: How the Ayala Group Helped Filipinos Cope with the Pandemic” is the winner for the “Covid-19 Response and Recovery Management and Communication” category. In the “Corporate Social Responsibility” category, Union Bank’s “Heroes 2021: A CSR Campaign in the Time of Pandemic” emerged victorious, along with Megaworld’s “Mega Summer Ventures #RoamFromHome” under the “Social Media” category.

Among all Gold Quill awardees worldwide this year, the lone coffeetable book in the “Publications” category is “FINEX 50: Leading on to Wider Frontiers,” co-published by FINEX and Media Wise. The 238-page volume commemorates the golden jubilee of the country’s foremost finance organization, with a parallel history of events that shaped the Philippine economy over the past 50 years.

Finex free enterprise Joseph Araneta Gamboa Significantly, FINEX 50 also won the Philippine Quill Award from IABC Philippines earlier this year and is slated to receive the Silver Quill Award from IABC Asia Pacific in the third quarter.

The latter is given to the Gold Quill awardees that are based in the Asian and Australian continents. That makes the FINEX coffeetable book a grand slam winner in IABC’s national, regional, and global competitions.

For more than four decades, the IABC Gold Quill Awards program has recognized innovative and strategic communication work globally that soars above the average and delivers significant results. By joining the program, entries are validated against a global standard and a measure that elevates groundbreaking work to identify “the best of the best” communication efforts in the world.

As part of the selection process, all entries are evaluated by international communicators who have more than 10 years of professional experience. Majority of these evaluators have earned

Gold Quill Awards themselves.

A pair of evaluators scores each entry independently and reconciles their scores at “blue ribbon panels” either virtually or at faceto-face locations in Vancouver, Toronto, Chicago, San Francisco, Johannesburg, London, Dubai, Manila, Sydney, Melbourne and Wellington.

Media Wise, a Metro Manilabased boutique publishing company, is the first and only organization in the Philippines that has bagged the Gold Quill Awards three years in a row under the same category. Prior to its awardwinning FINEX 50 book, it won in 2020 for “On the March: The Jesuits in the Philippines Since the Restoration” and, likewise, in 2019 for “The Front Runner: 150 Years of the Manila Jockey Club.”

Due to the pandemic, this year’s awards night on June 29 will be held via Zoom instead of the in-person ceremony originally scheduled in New York City. The virtual Excellence Gala will take place during the 2021 IABC World Conference, where the winners from 22 countries will be recognized.

Joseph Gamboa is the co-chairman of the Finex Annual Conferences for 2020-2021, chairman of the Finex Business Columns Subcommittee, and director of Noble Asia Industrial Corp.

The views expressed herein do not necessarily reflect the opinion of these institutions and the BusinessMirror.

assets still registered under unsettled estates so that these may be used for commercial or economic activities that would create investment, jobs and taxable transactions.”

“There is no denying that the adverse effects of Covid-19 are very much evident in all aspects of our lives, not just in health,” she told her colleagues.

“We have not only lost lives to this pandemic, we have also lost precious time. While we remain focused on protecting people’s health and safety from the virus, we must also address the disruptions Covid-19 caused to other sectors, such as our economy,” Cayetano said.

She emphasized that “our current condition necessitates and justifies the need to pass this measure at this appropriate time. Surely, its enactment can provide economic relief for many Filipinos during this time of global health and economic crisis.”

B4

Wednesday, May 19, 2021 • Editor: Gerard S. Ramos

Show BusinessMirror

www.businessmirror.com.ph

Ewan McGregor won’t soon forget his fashion turn as Halston

By Leanne Italie | The Associated Press

EWAN MCGREGOR as fashion icon Halston in the Netflix miniseries.

N

EW YORK—Imagine, if you will, a galaxy far, far away where the one-name fashion wonder Halston dresses Obi-Wan Kenobi in something fabulous from the swinging 1970s. Ewan McGregor can. Sort of.

McGregor is in the unique position of being the sole person—on this planet anyway—who might care, considering his dual roles as the Jedi master and the flamboyant designer, the latter the subject of a new Netflix miniseries and the former a Disney+ Star Wars installment that has the Scottish actor on set in Los Angeles.

“It would be much more comfortable,” he told The Associated Press during a recent interview on Zoom. “It would all be in cashmere, you know, none of that heavy blanket material stuff.” Already, Halston has already generated some heat for McGregor and director Daniel Minahan, both among the series’ executive producers with Ryan Murphy.

Halston’s niece, Lesley Frowick, along with other relatives, bashed Minahan’s passion project Monday as “frankly, garbage” and “inaccurate,” having seen nothing more than a trailer. Frowick, by phone from California, said the family and the Halston Archives were not consulted.

Minahan told AP he spoke to Halston’s brother, Robert Frowick, in the late 1990s while developing the project. Robert Frowick died in 2007 and his widow disputes her husband was consulted.

“I think everyone’s entitled to their opinion. This is not a documentary. It’s a dramatic series,” Minahan said. “And the people who knew Halston and were around him who have seen it have responded really well to it.”

In addition, award-winning Pose star Billy Porter, a fashion lover supreme, has questioned casting straight actors like McGregor in gay roles, noting gay actors rarely have equal access to straight parts.

“I felt that Ewan was the best person for the job,” said Minahan, who is gay. “I just can’t imagine anyone else doing it. He was my No. 1 choice.” For his part, McGregor—rushing from interview to interview to promote the series while slinging his lightsaber once again—said word that Frowick and another of Halston’s six nieces were unhappy “makes me sad.”

“We were so meticulous,” he said. “Dan Minahan has been researching this, wanting to make this for more than 20 years, so it’s a shame.”

Halston was a Midwesterner who revolutionized his industry with comfortable deconstructed gowns, washable Ultraseude shirt dresses and a minimalist, clean approach that redefined American fashion

The actress insists that she hasn’t had anything done on her face that goes beyond non-invasive procedures but that isn’t the truth. She’s had a rhinoplasty to reduce the width of her nose and liposuction on her face to make it smaller. There is nothing wrong with having procedures done. What is wrong is when people vehemently deny that they have had something done. This is because they make it seem

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Dario Franchitti, 48; Polly Walker, 55; Grace Jones, 73; Pete Townshend, 76.

Happy Birthday: Take your time, gain perspective and proceed judiciously. A constructive approach to whatever you want to pursue this year will help you bypass a costly mistake. Self-control will encourage you to ward off temptation and prompt you to develop more efficient plans. Refuse to let anyone pressure you into something that isn’t conducive to reaching your longterm goal. Your numbers are 8, 12, 20, 28, 33, 36, 41.

a

ARIES (March 21-April 19): Concentrate on personal gain, self-improvement and spending time with the people you love. The way you physically approach a project will make a difference to the way it turns out. Give your all, and you’ll get the most in return. HHHHH

b

TAURUS (April 20-May 20): A change may excite you, but before you proceed, check what’s involved and consider a route that offers less risk and stress. Put your energy where it counts, and keep your emotions out of the mix. HH

c

GEMINI (May 21-June 20): Express your thoughts openly and honestly to avoid being left in a vulnerable position. Take control, and use the experience you have along with common sense to navigate your way forward. HHHH

d

starting in the 1960s.

By the disco era, Halston was a regular at Studio 54, later designing costumes for the famed choreographer Martha Graham. His bright, sensual clothes, Liza Minnelli has said, were clothes that danced with you.

Halston lost the use of his trademarked name in a business deal that made him rich but left him at the mercy of a series of corporate overseers. Born Roy Halston Frowick in Des Moines, Iowa, he died in 1990 of AIDS-related complications at age 57, having left behind his New York world after his ouster from the company that bore his name. He fell into the embrace of family in Northern California, where he died in a San Francisco hospital.

His decision to bring his aesthetic to the masses included making clothes for J.C. Penney and cranking out an onslaught of goods—luggage, carpet, uniforms for the Girl Scouts and Braniff Airways—and an unforgettable first scent that came in a tear drop bottle designed by another member of his inner circle, Elsa Peretti. She became a jewelry designer for Tiffany & Co. (thanks to an introduction by Halston) and was one of his bevy of models dubbed the Halstonettes.

The series is full of Halston snorting cocaine, Halston having sex with male hookers and call boys,

and Halston spending lavishly. He had a penchant for decking out his mirrored Olympic Tower atelier in fresh orchids and flying in dinners from top New York restaurants to the retreat he rented from Warhol in Montauk. The biopic, based on the 1991 book Simply Halston by Steven Gaines, also delves into his own reinvention, from poor boy in Indiana (his large family moved a lot) to elegant, black turtleneck-clad workaholic with a short fuse.

McGregor, as part of his preparation, learned to sew, whipping up botched baggy trousers with one pocket on the inside and one on the outside. He also had tea with Minnelli, though he promised to keep the details private.

“I just wanted her to know that he was in safe hands with me,” McGregor said. “You know, there’s lots been said about Halston over the years and I wanted her to know that I respected her love for him and I respected their friendship. I couldn’t imagine how deeply I felt her love for him until we had tea.”

McGregor, 50, may be back with the Force, but he said he won’t soon forget Halston.

“I loved playing him so much,” he said. “I don’t think there will be any Halston in Obi-Wan but there will be a little bit in me. I think he saw beauty everywhere.” n

so shameful to undergo procedures like rhinoplasty and liposuction. It’s so funny when the actress denies these things publicly because when she is with her friends, she’s quite open about the enhancements she has undergone.

going into a relationship with him. The young male star’s good friend, a big star, doesn’t seem to approve of the powerful actress and he’s quite vocal about it. This has caused their relationship to turn sour as the big star friend resents it that the young male star chose the woman he loves over their friendship. The powerful actress is said to be still in love with her ex, who dumped her for a younger woman.

DIGITAL WALKOUT

SHE INSISTS

Today’s Horoscope

It’s not a secret that the young star is not well-liked by her peers for one reason or another. Anyway, she is working with another young star who definitely dislikes her. Young Star 2 has disliked Young Star 1 for years because she always looked at Young Star 1 as someone who is envious. During a recent online event, Young Star 2’s dislike was made even more apparent by her leaving the meeting when it was Young Star 1’s turn to speak. She never came back to the meeting.

Did Young Star 1 notice? She seemed oblivious—as she always is.

LOVE OVER FRIENDSHIP

The young male star fell in love with the powerful actress, who liked him but couldn’t fully commit to

MORE OPEN?

The actor and the younger actress have been in a relationship for quite some time and are even rumored to have a baby. But the actor is fiercely protective of his privacy so no one knows if this is true or not. But it’s good to see that lately, the couple have been quite open about being together. First, they were spotted on vacation (without a baby in sight).

Then, they were recently seen at a very public place although they were wearing caps and sunglasses.

Their version of a disguise, we guess. Will we see more of them together this year? Only time will tell if the actor is ready.

CANCER (June 21-July 22): Think outside the box. Don’t feel tied to old ideas and concepts if you have a better idea. Expand your interests, mind and awareness. Collaborating with someone just as enthusiastic as you will help you reach your target goal quickly. HHH

e

LEO (July 23-Aug. 22): Control your emotions. Be realistic and honest about what you can and cannot do. Less talk and more action will make a lasting impression on someone who counts. Set goals, then proceed, regardless of who tags along and who doesn’t. HHH

f

VIRGO (Aug. 23-Sept. 22): Keep your thoughts and opinions to yourself, and you will accomplish what you set out to do without interference. Stick to what’s doable, and don’t make promises you cannot fulfill. The time, effort and muscle you put in will bring good results. HHH

g

LIBRA (Sept. 23-Oct. 22): Chat about your dreams, hopes and wishes, and embrace the future with bright eyes and an open heart.

Peace, love and understanding will get you much further than using force or making demands. HHHH

h

SCORPIO (Oct. 23-Nov. 21): Express your feelings. Find out where you stand, and make changes that will encourage you to follow the path that will bring you happiness and peace of mind. Clear up unfinished business, and move forward with anticipation. HHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Emotional matters will spin out of control. Say less, observe more and don’t get involved in other people’s business, or you will turn into a scapegoat.

Focus on personal gains, self-improvement and protecting what you’ve worked so hard to achieve. HH

j

CAPRICORN (Dec. 22-Jan. 19): Keep emotional spending to a minimum. Make changes that encourage you to live within your means to ease the stress caused by unnecessary risks. Concentrate on engaging in activities that aren’t costly and bring you closer to someone you love. HHHHH

k

AQUARIUS (Jan. 20-Feb. 18): Revisit situations that puzzle you, and you’ll discover something that will help ease your mind.

Discuss your wants and needs with someone who can help you figure out a way to improve your surroundings to excel. Romance is favored. HHH

l

PISCES (Feb. 19-March 20): Keep life simple, honest and cost-efficient. Don’t let anyone talk you into something that isn’t in your best interest. Focus on taking better care of yourself emotionally, mentally and physically. HHH Birthday Baby: You are demonstrative, playful and impatient.

You are determined and proactive.

‘produce containers’ by jennifer marra and brian gubin The Universal Crossword/Edited by David Steinberg

ACROSS 1 Hot chocolate drink?

6 Breakfast dish with chopped meat 10 Furious 13 Softball misplay 14 Manuscript sheet 15 Letters in some church names 16 Alternative to a stud (notice letters 4 to 7 in this answer) 18 Big Apple initials 19 ___ with a kiss 20 Lead-in to “girl!”

21 Watercolors and such 23 German women’s tennis great (5 to 7) 27 Bob or bun 30 New ___, Louisiana 31 Sleep concern 32 Human rights lawyer Clooney 33 “Creature” that makes many children laugh (5 to 9) 39 Capital west of Stockholm 40 Where Christmas lights are hung 42 Some instrumental music compositions 46 Letter flourishes

7 *Occasional residence (4 to 7) 4 50 Former WNBA coach Dunn 51 Beers brewed using warm fermentation 52 Delay 55 Purge (of) 56 Like many strudels, or the starred answers?

61 Wile E. Coyote’s explosive 62 Shouldered 63 Actor Keach 64 In the past 65 Wait in neutral 66 Lake vessel DOWN 1 “I’m indifferent” 2 Top Olympic prize, in Spain 3 Crunchy Italian appetizer 4 Desire 5 Word after “Bay” or “gray” 6 Massive crowd 7 Comedian Wong 8 Avarice, for one 9 Monopolize 10 Chanted phrase 11 The Joy Luck Club author

2 They won’t keep you up at night 1 14 Worry 17 Plus 20 Number that only goes up 21 “Eureka!”

22 Engrossed 24 “I wanna be there!” mentality, briefly 25 Name hidden in “out of range” 26 “Maybe later” 28 Camcorder button 29 Fifty Shades of Grey star Johnson 32 Latin for “I love” 34 Aspiring atty.’s exam 35 “What ___ is new?”

36 Roadwork goop 37 Scheme that makes a villain say “Mwahaha!”

38 APR-reducing loan 41 ID often assigned around birth 42 Leonidas I led its army 43 Lubricating 44 Must 45 Billboards, essentially 46 “Treat Yo’ ___” (Parks and Recreation catchphrase) 48 Cologne’s waterway

49 Mechanical learning 53 ___ jockey 54 Beauty supply chain 56 Org. concerned with cybercrime 57 Reel’s partner 58 Surfing destination?

59 Earth-friendly prefix 60 Turn blue, in a way Solution to yesterday’s puzzle:

www.businessmirror.com.ph

Image BusinessMirror

Editor: Gerard S. Ramos

• Wednesday, May 19, 2021

B5

The Body Shop celebrates 25 feel good years in PHL BRITISH beauty brand The Body Shop marks another beautiful milestone as it celebrates its 25th anniversary in the Philippines. The brand, which introduced cruelty-free and nature-inspired skin care and bath and body treats to Filipinos when it first opened its doors on May 16, 1996 at SM Southmall, now has over 60 standalone stores, and is in 10 The SM Stores all over the country.

The Body Shop is more than a beauty brand— activism is in its DNA, and like its counterparts all over the world, Body Shop Philippines has participated in many campaigns which promote real change. With the support of its customers, help was extended to the Philippine Eagle Foundation in 2018, Yellow Boat of Hope Foundation in 2019, and SM Foundation for the typhoon victims in 2020.

To celebrate its 25th anniversary, The Body Shop will be delighting everyone with amazing offers and promotions for the entire month of May. The Filipina’s most loved Lip and Cheek Stain which was first launched in the Philippines will be going to its old price at P395 during the anniversary month. On top of that, The Body Shop’s most loved products over the years such as Tea Tree range, Drops of Youth range and White Musk fragrance collection will be offered at 25-percent off. There will also be weekly offers to watch out for so you can stock up on your favorite skin care and bath and body treats.

The Body Shop’s cruelty-free and vegan products are available at thebodyshop.com.ph, The Body Shop stores, Lazada, Shopee and ShopSM.com.

PHOTO BY SMARTWORKS COWORKING ON UNSPLASH

When you have a bulldozer boss B

EING in the academy and in the learning and development team for most of my professional life, almost all of my managers had a growth mindset and instilled in me the value of always continuing to learn—because the more I learn, the more I realize I do not know everything.

And so, I am shocked with horror stories of know-it-all bosses who railroad meetings and bulldoze everybody to do as they are told, and to quit complaining and just start doing. And while there are organizations that necessitate this kind of management, most organizations will lose people and resources with such leadership. A know-it-all boss puts the creative problem-solving and decisionmaking skills of their people at risk and endangers the organization into adopting a rigid way of doing things.

I noticed that most of these bosses are products of what is known as the Peter Principle, which states: “In a hierarchy, every employee tends to rise to his level of incompetence.” This was developed by a sociologist and business consultant, Dr. Laurence J. Peter, who published the 1968 book The Peter Principle. The principle elaborates that people are promoted based on their performance on their current level, role, or function more than having the requisite skills for the next position.

This sheds light on why these bosses think they are the best of everyone else. They feel that they have been placed in position because they know more than everybody else below them. They see their team as such that will do their bidding and execute their

vision (if they have one at all). They know the ins and outs of their own department but when they are asked to join interdepartmental meetings, they cannot contribute significantly. Or, worse, they think they can still best individuals from other groups and speak condescendingly when asked for their opinion.

The bad thing about having this kind of boss is that it becomes difficult to talk to them during meetings, and it becomes challenging to collaborate with them on a project. Their team also has the tendency to just follow orders and stop thinking for themselves on how to do their work properly. These bosses think that just because they are in position, they can do everyone’s work better. I know of an executive who maligned the work of architects and insisted that their work is easy and proceeded to scribble on a piece of paper the plan she wanted. When these kinds of leaders overreach and think they can do everything, they will soon find themselves alone to do all the work they belittled.

Another danger to having bulldozer know-it-all bosses is the limited perspective of how products and services are used by consumers. I know of a friend who was asked to design a bike lane and she used ramps to make it easier for bikers to get on and off them. Her business counterparts demanded steps instead of ramps and threatened her that it was their boss who insisted that it be steps. A know-it-all boss can do that—make everything about profits instead of looking at the users of their product. It is no surprise their developments have constantly declined over the years.

The worst danger of having these kinds of bosses is the lack of engagement from their team. Since everything comes from the know-it-all boss, people do not think critically and will just follow what their boss wants.

Since the team is not involved in the development of strategy and the identification of targets and how to meet them, the team will also lack the commitment to follow through. Remember, no involvement from the team, no commitment.

There are still some things you can do when you have a know-it-all boss. Managing them will take a lot of skill and patience but it is not impossible. You just

need to understand that at the end of the day, they will evaluate you and it is up to you to ensure they see your hard work.

Prepare well for meetings with them or when you need to do a presentation for them. Make sure you have facts and validated research so that it is easier for you to convince them if it comes to that. Nothing irritates a know-it-all manager than someone who is unprepared.

When they present their plan, ask questions to gently probe alternative outcomes. A know-itall might take offense when their team asks them questions on their own strategy. By posing it as a question, you make it about you trying to understand where they are coming from so you can better support them. Watch out for your tone. Always adopt the tone of someone who genuinely wants to understand how the plan will work.

A good way of putting things in perspective and to get the know-it-all boss to think of a situation differently is to ask “what if” questions. This will nudge your boss to think of alternative solutions given a hypothetical scenario. This puts less pressure on them to know the answers right away and possibly open the discussion to other people’s opinions.

Choose your battles. Do a quick cost-benefit analysis if what you would point out or say could put you in a better position with your manager or harm your professional relationship. This means knowing your manager well and understanding their decisionmaking process. Knowing how to say something and when to say it is crucial in ensuring your message gets across and received well. If the information is not significant, then let it pass.

There is nothing more disengaging than a boss who only wants to be followed. But if you have this kind of boss, you can still be successful in your organization. But when you become a leader yourself, you need to remember that you have to be supported by the people who work with you because you cannot reach the top alone. Your success is built on the success of every single person under your care. If you do not engage them and trust their abilities, you will find yourself with neither a team nor a place in the organization. ■

KEEP your skin and hair silky soft, hydrated and intensely nourished with Coconut Nourishing Dry Oil and Olive Nourishing Dry Oil.

THE Drops of Youth range is the perfect addition to your skin-care routine for a smoother, more supple and youngerlooking skin.

IN 2018, The Body Shop partnered with the Philippine Eagle Foundation to help protect our endangered Philippine Eagle and let them thrive and breed again.

Why do we hate the sound of our own voices?

BY NEEL BHATT University of Washington AS a surgeon who specializes in treating patients with voice problems, I routinely record my patients speaking. For me, these recordings are incredibly valuable. They allow me to track slight changes in their voices from visit to visit, and it helps confirm whether surgery or voice therapy led to improvements.

Yet I’m surprised by how difficult these sessions can be for my patients. Many become visibly uncomfortable upon hearing their voice played back to them.

“Do I really sound like that?” they wonder, wincing.

(Yes, you do.)

Some become so unsettled they refuse outright to

listen to the recording—much less go over the subtle changes I want to highlight.

The discomfort we have over hearing our voices in audio recordings is probably due to a mix of physiology and psychology.

For one, the sound from an audio recording is transmitted differently to your brain than the sound generated when you speak.

When listening to a recording of your voice, the sound travels through the air and into your ears— what’s referred to as “air conduction.” The sound energy vibrates the ear drum and small ear bones.

These bones then transmit the sound vibrations to the cochlea, which stimulates nerve axons that send the auditory signal to the brain.

However, when you speak, the sound from your voice reaches the inner ear in a different way.

While some of the sound is transmitted through

air conduction, much of the sound is internally conducted directly through your skull bones. When you hear your own voice when you speak, it’s due to a blend of both external and internal conduction, and internal bone conduction appears to boost the lower frequencies.

For this reason, people generally perceive their voice as deeper and richer when they speak. The recorded voice, in comparison, can sound thinner and higher pitched, which many find cringeworthy.

There’s a second reason hearing a recording of your voice can be so disconcerting. It really is a new voice—one that exposes a difference between your self-perception and reality. Because your voice is unique and an important component of self-identity, this mismatch can be jarring.

Suddenly you realize other people have been hearing something else all along.

Even though we may actually sound more like our recorded voice to others, I think the reason so many of us squirm upon hearing it is not that the recorded voice is necessarily worse than our perceived voice.

Instead, we’re simply more used to hearing ourselves sound a certain way.

A study published in 2005 had patients with voice problems rate their own voices when presented with recordings of them. They also had clinicians rate the voices. The researchers found that patients, across the board, tended to more negatively rate the quality of their recorded voice compared with the objective assessments of clinicians.

So if the voice in your head castigates the voice coming out of a recording device, it’s probably your inner critic overreacting—and you’re judging yourself a bit too harshly. THE CONVERSATION

B6 Wednesday, May 19, 2021

Vivo X60 unleashes groundbreaking smartphone camera capabilities in partnership with lens-maker ZEISS

DITO Telecommunity Corporation finally launches its services in Metro Manila

D

ITO Telecommunity Corporation has finally reached 16 cities and one municipality in Metro Manila. This is after a little more than two months from its commercial launch last March 8, 2021. As of today, the country’s third major player in the telecommunications industry, is already present in 100 cities and municipalities and available in more than 3,000 stores nationwide, covering 29 million Filipinos.

Tracing back the milestones that DITO has achieved in the past two months, DITO Chairman and Chief Executive Officer Dennis A. Uy attested to the company’s fulfillment of its promise of bringing stronger connectivity to our countrymen, “Our commercial activities began with 15 cities which we started in Cebu and in Davao with our ongoing CSR program of providing free service to our front liners in 10 cities as one of the pillars of our launch. Last April 16, we added 21 more cities. In just another two weeks, 18 cities were added, reaching as far north as Nueva Ecija in Central Luzon for a total of 54 cities,” he said.

Prior to DITO’s NCR launch, DITO had already opened close to 2,000 stores in various areas nationwide, including four DITO Stores in Cebu and Davao as well as online via Shopee and Lazada. “Network optimization has been happening at full speed.

Tower and infrastructure roll-out have continued unabated despite the pandemic to ensure that our subscribers numbering close to half-amillion Filipinos continue to enjoy top notch experience — speed and service we truly deserve,” Mr. Uy further mentioned.

The announcement was greeted by Department of

AT DITO NCR launch were Brand and Marketing Director Jasper Evangelista and Chief Administrative Officer Atty. Adel Tamano.

Information and Communications Technology Secretary Gregorio Honasan II and National Telecommunications Commission Commissioner Gamaliel Cordoba with much satisfaction as they spoke of the hard work and partnership with DITO to make the dream of a third telco possible.

Fully recognizing the clamor of Filipinos for better internet services for the longest time, DITO remains committed to empower Filipinos by providing them affordable, reliable, and fast data services that allow each and every one to move at the speed of life.

DITO Chief Administrative Officer Atty.

Adel Tamano said that for its initial entry in NCR, DITO from May 17 to June 30, 2021 offers 25GB of high-speed data for 30 days along with free unlimited texts to all networks, unlimited DITO-to-DITO calls, and free 300 minutes of calls to other mobile networks for only Php 199.

DITO’s welcome offer will be available in various channels, both offline and

online, such as DITO Stores, device retail partners, DITO online store, Shopee and Lazada. “More products and offers are on their way. This is only the beginning of our long-term commitment to elevate the industry through digital transformation and connectivity,” added Tamano.

“At DITO, we hear you and we are here for you. We are constantly developing our products, offers, and services, bearing in mind challenges that Filipinos encounter every day. Rest assured, we intend to continually improve our network by listening to you, our customers. At DITO, we put Filipinos at the forefront.

You will be our co-builders in this goal of weaving together telecommunities through stronger connectivity,” Jasper Evangelista, DITO Brand and Marketing Director said.

To know buy DITO SIMs, the attractive welcome offer, and other details, visit the official Facebook page at www.facebook.com/DITOphofficial or the website at www.dito.ph.

Constructors group recognizes outstanding Philippine projects

T

HE Philippine Constructors Association (PCA) together with the American Concrete Institute Philippines Chapter held the firstever Philippine Excellence in Concrete Construction Awards last April 25,2021.

This is in line with the Philippine Construction Industry Roadmap 20202030 that adopted as its theme, ‘Tatag at Tapat’, or building with integrity.

“The awards highlight and celebrate Philippine excellence as we build a better tomorrow and be global partners inbuilding nations. These are the aspirations of the 10-year industry roadmap the association is enabling,” said Anthony Mariano, PCA Foundation program director.

“We have opened the doors towards excellence. The amazing details brought me to realize that we can really compete globally, no ifs and no buts. Even the pandemic cannot hinder us to excel”, added PCA President Wilfredo Decena.

The winners for the different categories include the Infinity House by Carlo CaIma Consultancy for Low-Rise Building;the SM 4 ECOM Center by EEI Corporation for Mid-Rise Building; and the ATG Towers 2

by the Makati Development Corporation for High-Rise Building. The Mactan Cebu International Airport Terminal2 by Megawide Construction Corporation was awarded for the Infrastructure category and the Paranaque Integrated Terminal Exchange also by Megawide was chosen in the Decorative Concrete category.

The Wilcon Builders Depot by JVazco Inc. was awarded for Horizontal Construction while the DMCI Project Developers received a nod for their work on the Parish of the Holy SacrificeChapel in the University of the Philippines for the Repair and Restoration category.

DMCI is also the first-ever overall winner of the Philippine Excellence in Concrete Construction Awards for the same project. All the winners will compete with the best ofthe best at the upcoming 2021 American Concrete Institute's Excellence in Construction Awards in the US next month.

Industry growth and competitiveness Construction is considered as one of the mostimportant sectors in building a sustainable and strong economy. Finance Secretary Carlos Dominguez considered the industry as “the best driver of

economic growth because it has the best multiplier effects in terms of employment and shared prosperity.”

In 2019, the Department of Trade and Industry(DTI)-Construction Industry Authority of the Philippines, in partnership withthe PCA launched the 10-year roadmap as a strategic framework for the growthand development of the industry – which employs some 4.2 million workers or 10percent of the total Filipino workforce.

The industry has been growing at an average of 10percent for the last 5 years, and was the fastest among all sectors, theindustry, especially the small and medium-sized construction companies and its workers, However, it has been badly hit by the ongoing pandemic.

PCA participated in the National Employment Recovery Strategy (NERS) Sectoral Consultation and Pre- Summit Dialogue last April 23 organized by the DTI and the Department of Labor and Employment.

Thediscussion centered on sustaining the industry’s growth and competitiveness. PCA Board Member Norman Macapagal addressed the issue of market liberalization while PCA Executive Director Barry Paulino highlighted the need for the 30-year infrastructure master development plan, and the need to move towards digitization. The demotion of the entry of foreign firms andworkers was one of the recommendations arrived at during the dialogue.

The recommendation further added that the liberalization of the construction market is counterproductive to the NERS. Finally, amidst the challenges, the PCA has set out its 2021 Strategic Agenda that it is now being implementedwhich is to ‘Build Our Bridge to the Future.’

H

AVE you been trying to nail that Instagrammable portrait in one of those midnight sessions with your friends with just a smartphone? Or to capture that winning shot from your son’s intense basketball game in high definition? Crystal clear photos of these magical moments were only possible using professional cameras before. But as innovations in smartphone camera technology accelerates, these beautiful life moments can now be recorded conveniently and spontaneously with just a single tap on a single light and thin device.

The vivo X60 is the first innovation of vivo’s partnership with master lens maker ZEISS. Some of its first-in-smartphone features are the Extreme Night Mode 2.0, Optical Image Stabilization and the different Scene Modes like HDR Super Night Portrait and Pro Sports.

Headlining the X60 is its Extreme Night Vision 2.0, a photography technique previously done only by powerful lenses in professional cameras. It equips mobile photographers with the capability to capture subjects even at pitch dark environments.

Its super large f/1.79 aperture with a highprecision noise reduction algorithm makes night shots crisp and clear. Together with Optical Image Stabilization, a feature that makes it possible for moving subjects to be captured in well-defined and vibrant images, the vivo X60 is also the first phone with a Pro Sports mode that makes beginners take HD of images of fast-moving subjects. Now, users can blow up smartphone-captured poster shots larger than life. The X60 also makes it possible for smartphone users to switch to different camera settings in an instant. There is no need to adjust settings manually to suit a particular situation as different scene modes are ready in the vivo X60 like Ultra-Wide Night Mode, HDR Super Night Portrait, Starry Sky, Super Moon, and the Super Pano–a highdefinition night panoramic capability. The vivo X60 is also packed with an ultra-reliable processor in Qualcomm Snapdragon 870. All

of these wonders are loaded in an attractive smartphone, one that is 7.36mm thin, 176 grams light, with AG glass satin finish in colors of Midnight Black or Shimmer Blue, and with HDR10+ certifications in immersive picture and sound. Be among the first ones to experience the vivo X60 by pre-ordering from May 15 to 21 and claiming your device starting May 22 and onwards. Customers who will pre-order just need to pay PHP500 down payment which will be deducted to the phone’s retail price. Claiming of the device is easy where customers just need to present a valid, government-issued identification, receipt of the down payment, the claiming voucher and a Letter of Authorization if a representative will claim it. Vivo’s latest flagship phone will be available in stores nationwide starting May 22. For more details, visit https://www.vivoglobal.ph/ phone/vivo-X60/ or visit vivo Philippines on Facebook, Twitter and Instagram. The X60 is also available for purchase at vivo’s official Lazada and Shopee stores.

ACDP launches its first research and policy online forum for substance use in PH

T

HE Asian Center for Drug Policy (ACDP) has recently kicked off its pre-conference webinar via Zoom.

The first online research and policy forum entitled, “The Global & Local Situation: Identifying Key Issues,” discussed the current substance use situation in the Philippines and Asia and presented which specific sectors the substance use situation impacts as well as the different means to address the issue.

According to Olivier Lermet, Senior Policy Drug Advisor of the United Nations Office on Drug and Crime (UNODC), the global drug market is expanding and becoming more complex. He explains that such complexity is due to several determinants that influence drug production, drug trafficking, drug use, and drug dependents. Some factors that favor its expansion include population growth, urbanization, and income. In 2010 it was reported that methamphetamine is the primary drug of concern in the Philippines and other Asian countries such as the Republic of Korea, Japan, Laos, Thailand, and Cambodia. Nearly 10 years later, such concern has grown and has become prevalent in other neighboring countries including China, Myanmar, Vietnam, Malaysia, Singapore, Brunei, and Indonesia.

Surprisingly, the retail business of methamphetamine amid the COVID-19 pandemic is thriving and remains profitable. It is estimated at 61.4 billion USD which is four times larger than the same estimate done six years ago by UNODC. This amount is larger than the GDPs of several countries.

As presented by Dr. Benjamin Reyes, Undersecretary of the Dangerous Drugs Board, reports showed that there were 4 million users nationwide in 2016. By July 2016, more than 1.4 million users had surrendered for rehabilitation. The downside was that there were only 50

rehabilitation centers accessible that were capable to cater to the needs of around 10,000 individuals only. These facilities provided in-patient rehabilitation and only a few outpatient treatment alternatives.

There were also no community-based programs available at the time.

In 2019, results of the National Household Survey on the Patterns and Trends of Drug Abuse showed that 4.7 million (5.80%) Filipinos or 6 out of every 100 Filipinos have tried illicit drugs or substances at least once in their lifetime.

On the other hand, 1.67 million (2.05%) Filipinos or 2 out of every 100 Filipinos are current users of dangerous drugs and substances within the past 6 months of the survey.

To address the drug situation in the country, the government came up with the Philippine Anti-Illegal Drugs Strategy (PADS) that is anchored on the Philippine Development Plan 2017-2022. The goal is for the Philippines to achieve 100% sustainable drug-free communities by the end of the current administration. It aims to influence communities through evidence-based anti-illegal drug policies, strengthening inter-agency cooperation, and intensive drug abuse prevention and control programs.

In the context of substance use in the Philippines, methamphetamine acts as pampagilas or pampagising, helping people feel more energetic and alert as they work at night or for long hours based on a study conducted by NoBox Philippines & Lasco in 2018. In addition, the research conducted by UNODC in 2020 presents that 87% of people who use drugs do not have a pattern of drug use which is harmful, nor are they experiencing drug dependence and/or requiring treatment, and that alcohol seems to play a larger role in violence than do drugs.

This pre-conference webinar is in line with the upcoming ACDP research and policy conference entitled, “Drug Recovery in the Philippines: Governance, Research & Practice”, to be held on June 15, 2021 which aims to present local policymakers with a summative evidencebased research. For more information about the pre-conference & call for papers, visit www.acdpconference.com or contact us at research@acdp.asia.

BusinessMirror

Editor: Tet Andolong

Wednesday, May 19, 2021 B7

ALI uses circular economy approach in recycling program

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By Rizal Raoul S. Reyes

S part of its “circular waste management” initiative, Ayala Land Inc. (ALI) recently reported that it recycled 28 metric tons of plastic waste into useful eco-products last year.

The recycled materials were equivalent to 2.8 million plastic water bottles filling up 73 basketball courts has been recycled into ecoproducts like bricks for pathways, sidewalks and fences, according to the country’s leading property developer.

By using a circular economy approach, ALI has expanded its commitment to environmental protection amid the Covid-19 pandemic utilizing waste management­— turning plastic waste to products that can be used in projects. Despite the pandemic, it collected tons of dry plastic waste from its properties and communities last year and recycled them into eco-materials used in its estates and residential communities. With the explosive growth in online shopping and delivery during the pandemic, ALI said plastics use for packaging and

food containers increased the volume of plastic that would normally end up in garbage landfills or, worse, find its way to waterways and eventually end up in already polluted oceans.

Eco-products from ALI and Green Antz. Ayala Land partnered with the innovative environmental solutions company called Green Antz Builders, which converted dry plastic waste into eco-products using its proprietary technology that mixes plastic with cement and other materials to form durable construction materials like bricks, pavers and casts. These materials are now being used in Ayala Land estates and sites as pathways, fences and sidewalks. Anna Maria Gonzales, sustainability manager of Ayala Land said “This circular approach to waste management was applied in the company start-

Arnaiz Avenue, Makati CBD eco-products from recycled plastics

Arca South eco-hub—The first eco-hub built in partnership with Green Antz

ing March 2019.”

The cycle involves collecting clean and dry plastics at designated drop-offs and transporting them to eco-hubs, which are recycling facilities where the plastics are shredded and incorporated into concrete products developed by Green Antz,” said Gonzales.

The first eco-hub, built in partnership with Green Antz, opened in March 2019 in Arca South, a 74-hectare mixed-use development in Taguig City. In October 2019, the Lio Tourism Estate in El Nido,

than 24,000 eco-casts to build the control rooms of their solar power plants in Alaminos Laguna and Zambales. Evo City in Kawit, Cavite, are using 60,000 eco-bricks and 50,000 eco-casts for fencing.

And Lio Tourism Estate produced 158,000 eco-pavers for its sidewalks and pavement. The total plastics recycled by ALI in 2020 is comparable to the amount of clean and dry plastic waste gathered from two of its largest malls in a regular year. “Processing and using these eco-products effectively prevented

Palawan, opened its own eco-hub aiming to collect plastic within the estate and nearby communities and turn them into eco-products to be used by the estate.

Among the users of eco-products was Globe Telecom, which turned over 24,500 eco-bricks to seven communities during its anniversary in the third quarter of 2019. The Makati Central Business District installed 60,000 eco-pavers for sidewalks in the third quarter of 2020. AC Energy’s SolarAce and GigaSol used more

clean and dry plastics from Greenbelt and Glorietta from ending up in dumpsites,” concluded Gonzales.

Today, Ayala Land has a total of 30 sustainable estates and is present in 57 growth areas nationwide. It has five residential brands, namely, Ayala Land Premier, Alveo, Avida, Amaia, and BellaVita, which deliver quality homes to a broad segment of the housing market.

Its commercial development and leasing portfolio are Ayala Malls, Ayala Land Offices, and Ayala Land Hotels and Resorts Corp.

Housing demand rises despite pandemic—study

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By Roderick L. Abad

ROPERTY portal provider Lamudi reported that demand for housing has improved a year after the Covid-19 pandemic hit the country.

Monitoring the market status amid the health crisis, most price segments of properties listed on its web site experienced year-on-year (YoY) dips in pageviews in the first quarter (Q1) of 2020.

Despite the decline, future prospects were promising by then as house seekers surveyed by Lamudi last year said that they were keeping their property buying time-

frame open, with 34 percent considering a purchase in 2021.

As expected, the first three months of this year points to recovery across all prices, with high-end properties proving most resilient during a time when cash is king, while the affordable category showed the dream of homeownership is alive even in these difficult times.

Per Lamudi’s portal, the luxury market—the only segment that posted positive year-on-year (YoY) growth in pageviews in Q1 of 2020—saw a 33.7-percent average growth in pageviews YoY in Q1 of 2021.

Leads for this category were particularly strong in the first three months of last year compared to the same period in 2019, with houses priced over P20 million registering a 222-percent increase. It rose by an additional 18 percent from January to March of this year.

Trends like this indicate that those with more purchasing capacity took the opportunity to invest in real estate during a crisis. The same goes even for the low-cost housing when laborers showed a strong desire to own a home.

For a f ford able houses for sale, properties priced less than P450,000 saw a 46-percent growth

in pageviews in Q1 of 2021 compared to the same period of last year, recording the highest recovery rate in the affordable segment.

Likewise, residential units in this price point were the second most asked property in the first three months of 2020 compared to Q1 of 2019 at 128-percent hike in leads. It continued to increase by 38 percent in Q1 of 2021.

House hunters in this category not want to realize their dream, but also practically consider the proximity of their abode to essential establishments and place of work since mobility remains restricted with the ongoing lockdowns.

Home

Revolution Precrafted promises to comply with its obligations

By Lorenz S. Marasigan

Healthy modern home cooking with Breville

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UST recently, the international premium kitchen-label brand Breville Philippines (www.breville.com.ph), sha red virtual event Hey, Home Fryer! which puts the spotlight on the brand ’s newest master in the kitchen—the Smart Oven Air Fryer, the third and most innovative version of its best-selling Pro ovens. Unlike its predecessors, this newest offering from Breville’s roster #GotSmarter as it married both oven and airfrying options in one powerful product so that you can experience different ways of enjoying your tabletop favorites.

All of the participants including myself witnessed and enjoyed this online fun gathering. The online Summer Cookout is meant to bring inspiration in shaping the healthy, modern home cooking trend into tradition and beyond that’s why Breville featured culinary luminaries like Chef Waya Araos-Wijanco (Executive Chef and Owner, Gourmet Gypsy Art Cafe, Mental Health Advocate, cofounder of Open Hand School for Applied Arts), Chef Gem Tee (owner, Salta Ristorante), and other passionate home cooks who both shared heritage and modern recipes that anyone can add to

Robbie Antonio dealstreetasia.com

their culinary traditions, using some of the most advanced kitchen technologies that can elevate the way you enjoy your food.

Admit it. Regardless of how health-conscious we are, all of us have that special, secret place in our hearts reserved for fried food.

We all know that deep-fried treats may not always be the smartest choices when it comes to our overall diet, but we also cannot deny that they are so good it is worth dedicating a cheat day for them here and there.

The Smart Oven Air Fryer is

every home cook’s answer to their fried food dilemma thanks to its healthier way of deep-frying that uses advanced super convection technology. Now, you can sink your teeth on crispy, golden, air-fried food minus the oil and the guilt.

Want other ways to enjoy your food? You can even choose from 10 different cooking functions like slow cook, grill, bake, and roast.

And as if that is not enough, anyone can perfect recipes using the Smart Oven Air Fryer regardless of their experience in the kitchen, thanks to its smart algorithm that

helps provide the best cooking temperature for whatever it is you want to cook.

The event was also a perfect opportunity for all home cooks and food lovers in general to know more about valuable kitchen hacks and cooking tips from the pros.

Viewers, meanwhile, got first dibs on Chef Waya’s and Chef Tee’s insights. The two outstanding chefs both opened up on all the most important things they’ve picked up over the years when it comes to working in their kitchens.

Reni Salvador

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REFABRICATED house supplier Revolution Precrafted vowed to “comply” with its obligations to its claimants, while exerting efforts to collect receivables from orders made by third parties.

In a statement, Revolution CEO Robbie R. Antonio said his group has already reached amicable resolutions with “a substantial number of suppliers, contractors and clients.”

These, he said, include those that have filed complaints before the National Bureau of Investigation in February.

“We thank our suppliers, contractors and clients for working with us towards achieving significant progress in resolving the issues. Revolution previously committed to honor all legitimate contractual obligations from the very beginning, and this is what we have done and continue to do as we work on the remaining accounts,” Antonio said.

Antonio noted that there are a “few remaining claimants,” and the start-up, which was previously known as the first Philippine unicorn, “intends to fully comply with its obligations, subject to such obligations being legitimate, fair, and in adherence to the terms of the original contract that the counterparties signed with Revolution.”

Reportedly, Revolution is facing complaints from suppliers that claimed they were “lured” into sign-

ing dubious contracts worth P150 million. “Our intention is to have a constructive, positive way forward for both the company and its stakeholders,” he said.

Antonio noted that his group has signed two new settlement agreements with two developers, which will be hiring separate contractors to continue its projects.

He also claimed that the company has “completed 45 homes and the developer has hired other contractors to complete the remaining homes” for another project.

Antonio pointed out that his group still has receivables from “third parties” that “owe Revolution for homes it has delivered.”

“Revolution will exert its rights to collect what it is owed as well,” he said.

The company, which projected itself as the Ikea of homes,” is currently undergoing a business review, “and shall operate dependent on the recovery of the market it plans to serve,” Antonio noted.

Revolution was founded in 2015

by Antonio, a son of prominent businessman Jose B. Antonio, one of the richest people in the Philippines. It was touted to be the first unicorn of the country, after raising its valuation through a series of funding initiatives.

Revolution provides contemporary prefabricated homes designed by designers like Lev Libeskind, Fernando Romero, Zaha Hadid and even Kenneth Cobunpue. It promises to deliver homes in as fast as 60 days.

PRD signs Kouame’s naturalization documents

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VORIAN Angelo Kouame is now a Filipino citizen after President Rodrigo Duterte signed his naturalization papers, Presidential Spokesperson Atty. Harry Roque Jr. told BusinessMirror on Tuesday.

“This is to confirm that the President [Rodrigo Duterte] has signed into a law granting [of Filipino] citizenship to Angelo Kouame,” Roque said.

The President, however, has yet to sign the naturalization papers of Spanish football star Bienvenido Marañon, according to Roque.

Samahang Basketbol ng Pilipinas (SBP) President Al Panlilio, in a statement sent through Special Assistant Ryan Gregorio, thanked all the government officials for making the naturalization process possible.

Now, Panlilio said, the 6-foot-10 Kouame could play in the third and final window of the International Basketball Federation Asia Cup qualifiers from June 16 to 20 in Clark.

“The SBP extends our appreciation to President Rodrigo Duterte for signing it into law and Executive Secretary Salvador Medialdea and Senator Bong Go for their assistance,” Panlilio said.

“We thank our SBP Chairman [Manuel V. Pangilinan], Senator Sonny Angara, along with Senators Joel Villanueva and Richard Gordon, for filing the bill in the Senate and our Vice Chairman, Congressman Robbie Puno, for authoring the bill in the House of Representatives,” Panlilio added.

SBP program director Tab Baldwin expressed excitement over Kouame, saying he’s extremely thankful to President Duterte for being supportive of Philippine sports.

“I think we are all pretty confident that the Congress is supporting us, the President also supports basketball and Philippine sports,”Baldwin said.

“It’s a big relief, and we’re very happy for Ange [Kouame], happy for the program.”

Gregorio said the SBP will now seek FIBA’s confirmation on Kouame.

“Kouame will now undergo the final steps required by FIBA before a naturalized player can suit up for a country and we are confident that he’ll be able to play during our hosting of the FIBA Asia Cup Qualifiers and the FIBA Olympic Qualifying Tournament in Serbia,” Panlilio added in the statement.

Kouame played for Ateneo in the University Athletic Association of the Philippines before he was tapped for the Gilas Pilipinas program.

Sports BusinessMirror

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| Wednesday, May 19, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao AL MENDOZA alsol47@yahoo.com

THAT’S ALL

MARCIAL GOOD TO GO FOR TOKYO—CANLAS A

Novel NBA play-in on

Davao Occidental signs fresh legs for MPBL

Jr. NBA PHL goes virtual

THE Los Angeles Lakers and the Golden State Warriors, two of the greatest National Basketball Association (NBA) champions in history, renew their fabled fierce moments on Thursday (tomorrow).

Like you, I can’t wait.

So, let’s first give way to Eastern Conference action on Wednesday (today), featuring the start of the novel playin matches to select the last two teams advancing to the postseason.

The No. 9 Indiana Pacers battle Michael Jordan’s Charlotte Hornets at 6:30 a.m., followed by the match between the No. 7 Boston Celtics and the No. 8 Washington Wizards at 9 a.m.

The winner in the BostonWashington encounter will clinch No. 7 spot while the loser is given another chance by meeting the winner between Indiana and Charlotte.

The final contest gives the winner the final slot to complete the eight-team roster for the season’s Eastern Conference playoffs.

That will be xeroxed in the Western Conference, with defending champion Los Angeles squaring off with arch-rival Golden State on Thursday (tomorrow) at 10 a.m., with the winner clinching No. 7 in the eight-team playoffs.

The loser battles the winner in the Memphis-San Antonio tussle at 7:30 a.m. for the right to salvage eighth spot to the Western playoffs.

The Lakers missed pocketing No. 6 for an outright advance after tying with the Portland Trail Blazers at 42-30. Portland won the tiebreak by virtue of its 2-1 margin over LA in the regular season.

LA likewise enjoys a 2-1 advantage over Golden State in the regular season, with its twin victories recording a combined winning margin of 57 points— even without Laker star Anthony Davis in both games.

But the Warriors’ lone win came with the Lakers in full force, scoring a 115-113 win from 14 points down in the fourth quarter.

Four of five pundits picked the Lakers to beat the Warriors, with Brooklyn star Kyle Irving choosing LA. LeBron James left the game after he tweaked his ankle again in the Lakers’ win over the Pelicans on Monday. But he said he’ll be “fine” for the play-in against Golden State.

James will renew his rivalry with Warrior Steph Curry, who secured his second scoring champion highlighted by that 62-point explosion against Portland in just his sixth game, besides setting an NBA record of seven straight games with at least 10 three-pointers in a single season.

Can Curry be stopped by Dennis Schroder or Kentavious Caldwell-Pope, or even Alex Caruso maybe?

Curry, 33, averages 32 points a game, capping his season with a 46-point blast that sent Memphis to No. 9.

Curry said his faceoff with James “will be a different scenario…always, you expect greatness when playing against James.”

Phoenix awaits the winner in the Lakers-Warriors clash in the playoffs first round.

I go with Irving: Lakers.

AVAO Occidental signed ex-pro Keith Agovida and eight other players for its upcoming campaign in the 2021 Chooks-to-Go Maharlika Pilipinas Basketball League Mumbaki Cup. Agovida has been on the radar of Head Coach Don Dulay for quite a while.

“I was eyeing him since he was with Columbian Dyip [now Terrafima],” said Dulay, also an assistant coach with Rain or Shine, about

HE National Basketball Association (NBA) announced recently that the Jr. NBA will return to the Philippines with Jr. NBA Philippines Clinics Online on May 29 and June 12 with registration now live at www. jrnbaasia.com.

The Jr. NBA is the league’s global youth basketball program promoting healthy and active lifestyles, while the clinics will

THAT’S IT The Philippine Basketball Association’s (PBA) Dodge Draft Rule has put to a bind Thirdy Ravena, who just resigned his contract with Japan.

I think the law covering Thirdy’s situation, which mandates a college player to join the PBA draft within two years after graduation, is a democratic perfidy derailing one’s freedom of choice.

Josef Ramos

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By Josef Ramos

GOOD wrapping, a lot of ice after each fight or sparring session and a good rest and Eumir Felix Marcial is good to go for the Tokyo Olympics.

This was the authoritative opinion of renowned sports medicine expert Dr. Jose Raul Canlas when asked about Marcial’s on-and-off swelling and aching of his knuckles each time he fights or spars.

“There’s a split in the tendons at the knuckles due to strong punches,” said Canlas, also a member of the FIBA Medical Commission since 1994. “So to minimize the soreness and avoid possible injuries, you should protect your knuckles by wrapping it properly before training or in an actual fight and ice it after.”

Marcial, 25, has been fighting through pain in his hands at least for the past four years. But each time he did, he still came out smoking.

Marcial was in pain when he won a middleweight gold medal in the Kuala Lumpur 2017 Southeast Asian Games and at the Jakarta 2018 Asian Games where he settled for a bronze medal.

At the Olympic qualifier in Amman, Jordan, in February last year, his hands swelled and

ached, and also after he disposed of American Andrew Whitfield in a four-rounder in his professional debut in Los Angeles last December.

There were no reports that Marcial experienced the same situation with his fists in the 2019 Philippines SEA Games.

Marcial will be flying to Dubai on Friday to test his readiness for the Olympics at the Asian Elite Men and Women Boxing Championships. He received words of concern from his buddy, International Boxing Federation super flyweight boxer Jerwin Ancajas.

Ancajas advised Marcial to treat the Dubai tournament as a mere warmup for Tokyo so as not to risk his fists.

“The Tokyo Olympics are the most important for Eumir for now, he should not risk injuring his fists in Dubai,” Ancajas said.

Canlas, also the medical commission head of the Philippine Olympic Committee, has yet to take a look on Marcial’s hands, but said that he already encountered similar knuckle problems when he successfully treated Olympic silver medalist Mansueto “Onyok” Velasco after his campaign in Atlanta 1996.

“I was already with the Philippine Sports Commission

Bataan donates lots to PSC for PSTC

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HE Philippine Sports Commission (PSC) will build the Philippine Sports Training Center (PSTC) on pieces of land donated by the provincial government of Bataan.

PSC Chairman William “Butch” Ramirez received the deed of donation from Bataan Governor Albert Raymond “Abet” Garcia on Tuesday.

“I am so happy and excited on this newly-forged partnership with the Provincial Government of Bataan,” Ramirez said. “This will give our national athletes a new home as they continue to bring pride and honor to our country.”

Ramirez said the donation became doubly significant because

he celebrated his 71st birthday on Tuesday.

“This is one of the best birthday gifts I ever received,” he said.

Bataan donated to the PSC six lots in the municipality of Bagac with a total land area of 25 hectares.

“I thank the PSC and all those who helped in making this project a success,” Garcia said. “This will surely benefit our athletes.”

Senator Christopher Lawrence “Bong” Go, Chairman of the Senate Committee on Youth and Sports, witnessed the ceremony and vowed to support the PSTC. “For as long as the government and athletes unite together, we’ll go far and wide,” Go said. “Rest

in 1994. I remember Onyok after the Olympics,” said Canlas, also the United Philippine Surfing Association president. “I haven’t checked Marcial yet, but most probably the soreness is the result of training or after a fight.”

Renowned trainer Freddie Roach also consulted a doctor on Marcial’s fists when the Zamboanga City native trained for seven months at the Wild Card Gym in Los Angeles beginning

assured, I am fully behind the establishment of the PSTC.” Ramirez said that after many months of weighing options and offers, the PSC accepted Bataan’s offer giving the strategic location of the lots and their significance to the country’s.

Republic Act 11214, the law that created PSTC, seeks “to promote and develop sports in the country, to achieve excellence in international sports competitions, to ensure success in the country’s quest to achieve competitiveness in the Olympic Games and to promote international amity among nations,” was signed by President Rodrigo Duterte last February 2019.

An amount of P3.5 billion was appropriated by the law for infrastructure and will be

SPORTS medicine expert Dr. Jose Raul Canlas says Eumir Felix Marcial’s recurring problem with his fists is no cause for alarm.

last October.

MP Promotions President Sean Gibbons also said that Marcial only experienced soreness in his fists while in the US and is “1,000 percent good.”

“There was no injury but just soreness and it’s 1,000 percent good,” Gibbons said. “He has managed it for five years and that’s great.”

Marcial said he is entirely focused on the Olympics, which are set from July 23 to August 8.

“I am not afraid to fight. Even if I break my arms in the Olympics, I am very determined to capture the country’s first Olympic gold medal—whatever it takes,” Marcial told BusinessMirror.

“I also sacrificed two important professional bouts prepared by Sir [Sean] Gibbons early this year because I want to concentrate on the Dubai competition and the Olympics,” he added.

Marcial established his training camp in his hometown through Zamboanga MLV Valientes owner

by Junnie Navarro.

“If I can win the gold in Dubai, why not? I will go for it,” Marcial said. “But my target is always the Olympics.” included in the annual General Appropriations Act. The amount is intended to carry out other provisions of the act, particularly for the maintenance, operation and management of the PSTC. A clause in the deed of donation states that an infrastructure “shall be constructed and completed by December 31, 2025, subject to extension upon agreement by the parties.”

Ramirez was joined by PSC Commissioners Ramon Fernandez, Arnold Agustin and Celia Kiram and National Training Director Marc Velasco. Garcia was joined by Second District Representative Jose Enrique Garcia III, Dinalupihan Mayor Maria Angela Garcia and Engr.

Emmanuel Pineda.

PBA seeks MMDA’s assistance

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By Claudeth Mocon-Ciriaco

HE Philippine Basketball Association (PBA) sought clarification and guidance from Metropolitan Manila Development Authority (MMDA) Chairman Benjamin “Benhur” Abalos Jr. on existing rules and regulations of the Inter-Agency Task Force on Emerging Infectious Diseases (IATF-EID) on contact sports such as basketball.

PBA Commissioner Willy Marcial on Tuesday paid a courtesy call to Abalos at the agency’s headquarters in Makati City.

They discussed ways to forge stronger

the 6-foot-2 guard. “When I became head coach of Davao Occidental, I wanted to get him because he was perfect for the MPBL.” Joining Agovida are free agents 6-foot-3 swingman Robby Celiz, 6-foot-5 big man Chris Lalata, 5-foot-10 combo guard Alwin Alday, 5-foot-9 floor general Irvin Palencia, 6-foot-3 forward Chris Dumapig, 6-foot2 guard Joe Presbitero, 6-foot-2 shooting guard Gab Dagangon

coordination particularly during time of pandemic.

“Basketball is the Filipinos’ national past time,” Abalos said.

“But there is no denying that the PBA is struggling now because of the pandemic.”

Abalos vowed to help the PBA and the basketball industry as a whole.

He said that they will work on certain aspects that will be acceptable by the IATF, ensuring that minimum health protocols being implemented by the government will be strictly observed.

“We have to ensure the safety of everyone, not only the players, but the general viewing public,” Abalos said. “We cannot compromise the health and wellbeing of all.”

and 6-foot-4 big Dariel Bayla.

“It was a tricky situation this time since we were not able to hold a tryout because of the quarantine,” Dulay said. “But we were surprised that they were available and we were able to get these guys.”

They replaced Jerwin Gaco, Richard Albo, Yvan Ludovice, Kenneth Mocon, Harry Dumagan, Bogs Raymundo, Jeck Desabille, Embons Bonleon and Don Adormeo.

COMMISSIONER Willie Marcial (center) pays Metropolitan Manila Development Authority (MMDA) Chairman Benjamin “Benhur” Abalos Jr. (left) a courtesy call. Joining them are MMDA General Manager Undersecretary Jose Arturo Garcia Jr.

The shutdown of the PBA during the pandemic have affected the livelihood of families employed by the sports organization and its member teams.

The association is eyeing training in Metro Manila as its

T

quarantine status eased to general community quarantine with heightened restrictions.

Marcial, on the other hand, pledged strict compliance with minimum health standards once the PBA gets green light to proceed with its 46th season.

cater to 13 to 17 years old boys and girls across the country.

The Utah Jazz’s Jordan Clarkson and 2021 NBA Draft prospect Jalen Green will join Jr. NBA coaches in leading Filipino youth through basketball drills.

Clarkson and Green will also participate in a life session and discuss the importance of fundamental skills training in their professional careers during the May 29 online event.