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OREIGN direct investments (FDI) started the year on a positive note in early January, the Bangko Sentral ng Pilipinas (BSP) reported on Wednesday. The country, however, needs to do more as these investments are expected to decline due to the global pandemic, the BSP chief said.

In a statement, the BSP reported that FDIs hit $657 million in January, growing by 12.1 percent from its level in the same month last year. The BSP attributed the increase in FDI during the month to the net inflows of equity capital—which amounted to $352 million. In comparison, equity capital in January 2019 registered a net outflow of $43 million.

This development, however, was before the imposition of the community quarantine in the country due to the Covid-19 pandemic.

FDIs are investments that are made by foreign players to the Philippines in the hope of reaping long-term return. Since these are

in the country for a longer term compared to their short-term counterpart—the foreign portfolio investments (FPIs)—the FDIs usually create jobs for Filipinos and have a multiplier effect on the economy.

In early March, international think tank Fitch Solutions warned that FDIs to the country will likely take a big hit due to the Covid-19 pandemic, given the country’s relatively high percentage of Chinese FDIs.

Mainland China accounted for around 12.3 percent of FDI inflows between January and November 2019, with South Korea, Singapore and Japan also key sources of investment flows.

Thus, BSP Governor Benjamin Diokno said it is crucial that the Philippines do something to retain the country’s “investability,” especially when economies start to recover from the global health crisis and when investors restart looking for an opportunity to put their funds on.

“The Philippines is a very attractive place to invest post-Covid. There is a study by The Economist ranking the Philippines as one of the most attractive investment destinations post-Covid. So we are banking on that, but I think we should, also as a country, not rest on those international publications’ support. I think we should do more,” Diokno said.

Diokno made the call to legislators to “pass all those laws” that will make the economic environment more attractive to these foreign investors.

While the BSP governor did not cite which specific laws, the BSP has been long vocal in its support to key economic proposals pending in the legislative branch, the latest of which is the Financial Institutions Strategic Transfer (FIST) Law.

“The passage of the law will promote investor and depositor confidence and will result in the efficient conduct of financial intermediation,” the governor earlier said.

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Thursday, May 28, 2020 Vol. 15 No. 231

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SHOOTS UP TO P347.9B ‘SIN’ TAX COLLECTION DIPS 57.1% TO P31B ON VIRUS LOCKDOWN

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REPATRIATED Filipino workers who have gone through the mandatory 14-day quarantine period and who had tested negative for Covid-19 wait at Naia Terminal 2 to board government-provided sweeper flights to their respective provinces. NONIE REYES

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By Bernadette D. Nicolas

HE country’s budget deficit from January to April widened to P347.9 billion, skyrocketing by 10,214.56 percent from the shortfall of P3.4 billion recorded in the same period a year ago, data from the Bureau of the Treasury (BTr) showed.

This was due to the increased government spending and drop in revenue collection amid the lockdown forced by the Covid-19 pandemic.

A deficit occurs when expenditures exceed revenues.

Actual government spending for the first four months of the year surged by 31.12 percent to P1.31 trillion, up from P999.8 billion in the same period in 2019—mostly on account of measures to respond to the pandemic.

Spending swelled with the releases for the implementation of the first tranche of the Social Amelioration Program (SAP) and the Small Business Wage Subsidy (SBWS) Program, Bayanihan grant to provinces, cities and municipalities, and other recovery and rehabilitation measures of the national government under the Bayanihan to Heal as One Act. Interest payments also increased by 7.96 percent to P141.8

IN” tax collection from alcohol and tobacco products as of end-April dropped by 57.1 percent to P30.6 billion, a decline mainly attributed to the lockdown and the liquor ban imposed amid the Covid-19 pandemic.

Citing data on excise tax collections based on volume of removals from the Bureau of Internal Revenue, Finance Undersecretary and Chief Economist Gil Beltran said on Wednesday that the collection for January to April this year is down by P40.6 billion from P71.2 billion in the same period in 2019.

There were no collections from e-cigarettes during the period, Beltran said.

“I think it is indeed very disappointing that revenues were down this year but we expect that we will recover in future years,” he said in a virtual forum hosted by Covid-19 Action Network.

Asked where the government attributes the decline in sin tax collections for the period, Beltran replied: “First of all, the lockdown did not enable the manufacturers to get the workers to work. Second, during the lockdown, you cannot sell cigarettes.

They were prohibited from transporting those products during the lockdown. Mainly the lockdown was imposed on non-essential items, and cigarettes and alcohol are non-essential items.”

Broken down, tobacco suffered the biggest hit as it posted a year-on-year decline of 64 percent to settle at P16.9 billion during the first four months of the year. This is way below the P46.9 billion collected from tobacco products in the same period a year ago.

Excise tax collections from alcohol declined by 43.6 percent as of end-April to P13.7 billion from last year’s P24.3 billion.

Of the P13.7 billion collected from alcohol products, P10.7 billion was collected from fermented liquors and P3 billion was taken from distilled spirits.

During the same period last year, the government collected P18.4 billion for fermented liquors and P5.7 billion from distilled spirits.

For April alone, sin tax collections from alcohol and tobacco products plummeted by about 100 percent to 0.2 billion from P18.1 billion in the same month last year due to the imposition of the enhanced community quarantine and liquor ban.

April collections on tobacco amounted to P0.1 billion, sinking by 98.9 percent from P12.4 billion in April 2019.

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BTr to borrow ₧170B from local debt market

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DE LEON: “We have extended the curve to three and five years with appetite on this segment for yield pickup. We retained 35-day to provide additional liquidity layer and we are just rolling it over.”

HE Bureau of the Treasury is set to borrow P170 billion from the local debt market in June.

The Treasury also programmed to borrow P170 billion in May. Broken down, the Treasury scheduled to borrow P80 billion in 91-day, 182-day and 364-day Treasury bills (T-bills), P30 billion in 35-day T-bills and P60 billion in 3-year and 5-year Treasury Bonds (T-bonds).

PESO EXCHANGE RATES n US 50.6170

“We have extended the curve to three and five years with appetite on this segment for yield pickup. We retained 35-day to provide additional liquidity layer and we are just rolling it over,” said National Treasurer Rosalia V. De Leon.

A volume of P20 billion in usual T-bills of 91-day, 182-day and 364-day tenors will be offered on each of the four auctions scheduled on all Mondays of June.

In terms of the 35-day T-bills, P15 billion in debt papers will be up for bids per auction day, particularly on the first and third Tuesday of the month or on June 2 and June 16.

For the T-bonds, P30 billion worth of three-year debt papers will be offered on each auction day on the second and fourth Tuesday of the month, particularly on June 9 and June 23.

See “BTr,” A2

COURT employees wait for their turn to be tested for Covid-19 in medical tents set up outside the Supreme Court Building on Padre Faura Street, Ermita, Manila. Courts nationwide are still closed, although some hearings have been conducted through videoconferencing. ROY DOMINGO

n JAPAN 0.4708 n UK 62.4411 n HK 6.5293 n CHINA 7.0932 n SINGAPORE 35.7364 n AUSTRALIA 33.6299 n EU 55.5572 n SAUDI ARABIA 13.4763

Source: BSP (May 27, 2020)

News DOH focuses on cutting Covid test processing lag BusinessMirror

A2 Thursday, May 28, 2020

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By Claudeth Mocon-Ciriaco

HE total number of Covid-19 cases in the Philippines rose to 15,049 as of Wednesday (May 27), even as the Department of Health vowed to erase the backlog of 6,000 test results that have yet to be processed by licensed laboratories.

“In about two days mauubos na ang backlog na ito [In two days this backlog should be wiped out],” Health Secretary Francisco T. Duque III said in a radio interview on Wednesday, noting that several factors affect the processing of test results like diminishing supplies needed for tests, among others.

As of 4 p.m. of May 27, the Department of Health (DOH) reported 380 new cases (PH14670PH15409) of Covid-19.

The DOH also announced that there are 94 new recoveries. This brings the total number of recoveries to 3,506. There were 18 new

deaths recorded, bringing the total number of deaths to 904.

Duque revealed that there are 70 to 80 laboratories in the pipeline to help ramp up the Covid-19 tests.

“Around 70 to 80 are applying for the accreditation and certification and this is a very complicated process. Most of them fail in the proficiency tests,” Duque said, stressing that such test is very crucial and that everything should not be rushed to come out with the needed accreditation and certification for “what these labs are handling live virus.”

“We cannot compromise on

the safety…they handle live virus.

That’s scary. That’s no joke,” Duque pointed out, in a mix of English and Filipino.

Earlier, Health Undersecretary Maria Rosario Vergeire clarified that the estimated testing capacity of all licensed laboratories across the country is 32,000 per day.

“Our actual numbers are being reported daily through our sitreps [situation reports] and other materials. The 32,000 is the estimated capacity sans all other factors that may affect operations of laboratories,” Vergeire said, adding that there are 66 laboratories to date and 17 labs that are set to be licensed.

Vergeire also underscored the “factors” that may affect the operations of each laboratory that will render a low number of tests daily.

She said factors that “may affect operations include availability of lab supplies in the market, health human resource issues, equipment and issues in infrastructure.”

She cited how a typhoon recently damaged the laboratory of the University of the Philippines-

National Institutes of Health, and some of the equipment of the Philippine Red Cross (PRC) were damaged due to leaks in the building after heavy rain.

Last month, the government also set, but failed, to meet its initial goal of 8,000 tests per day by the end of April.

As for May, Vergeire said, “[Our] average of [the daily tests conducted] is 8,590 to 9,500 per day.”

Admitting that they are trying hard to attain the target that has been set, Vergeire said that the DOH assigned specific teams to focus on labs which are on Stage 3 and 4 of the licensing process.

“So we can guide them and expedite their licensing in the next two weeks. We have identified 17 labs which [can] be licensed in the next two weeks.

Included here would be two labs from PRC which has a huge capacity for testing,” she said.

Likewise, in their existing labs, Vergeire said, they have provided automated extraction machines which can lessen time for processing of samples by four

hours per run.

“And also, we have added additional RT-PCR machines in some of the labs. Hopefully with these efforts we can be able to expand capacity and reach that target,” an optimistic Vergeire concluded.

Infected OFWs

MEANWHILE, the number of Covid-19-infected Filipinos abroad is now 2,664 with the addition of 29 new cases, according to the Department of Foreign Affairs (DFA), quoting a report from the Foreign Service Posts (FSPs) across the four major geographical regions.

There have been 930 recoveries and 1,400 who have been undergoing treatment.

Despite the increase in new Covid cases, the daily rate of recoveries increased to 2.75 percent with 25 new recoveries in Asia and the Pacific, Europe and the Middle East.

Six new fatalities were also recorded from three countries in the Middle East to bring the total deaths to 334.

With Recto L. Mercene

‘CREATE to produce 1.1M jobs in 5 years’ Continued from A12

The Citira bill was approved by the House of Representatives last year and is awaiting approval in the Senate. It has also been certified as urgent by President Duterte in March.

“If that would not be passed in the next five session days, then the commitment is to really pass it as soon as we resume because I believe that more than a majority of the senators are supportive.

It’s just a question of what bills have to be prioritized as I mentioned because there’s only five remaining days but I think I can say candidly that it’s a question of do we pass it in June or August,” Cayetano said in the same press conference.

For his part, Salceda reiterated that the House is willing to adopt the Senate version of the modified Citira to fast-track the approval of the measure as long as it is fiscally sound.

But should Congress fail to pass the measure, Finance Secretary Carlos G. Dominguez III said there is a possibility the Presi-

BTr… Continued from A1

Meanwhile, the Treasury also fully awarded P30 billion in reissued five-year T-bonds on Wednesday and opened the tap facility window for an additional P20 billion offering.

The auction was oversubscribed by almost 4x the P30-billion offering as tenders reached P118.42 billion.

With a remaining term of 4 years and 4 months, the tenor fetched an average rate of 2.676 percent, lower than the previous auction and secondary market rates.

The auction average rate for the tenor was 134.2 basis points below the previous average rate of 4.018 percent.

The total outstanding series now stands at P100 billion.

On Tuesday, the Treasury also raised an additional P10 billion in 364-day T-bills.

Tenders during the tap facility auction also reached P32.9 billion, more than thrice the P10-billion offering.

The additional P10 billion sold by the Treasury on Monday is on top of the P24 billion worth of T-bills it raised on the same day. Bernadette D. Nicolas

dent may call Congress to a special session to discuss the passage of urgent bills.

“Well, it would be best if we pass it now. That’s the ideal. However, there is really also the option which we haven’t discussed at length but just briefly of the President holding the legislature to session to address the urgent bills that are pending and that have been filed already by the different houses, but that’s a possibility. Again, it hasn’t been discussed at length with the administration nor with the legislature,” Dominguez said.

Meanwhile, Dominguez said now is the best time to pass CREATE, designed to be the largest fiscal stimulus program for businesses in the country’s history.

The recalibrated measure, he said, aims to squarely meet the challenges that enterprises face in the time of the pandemic by addressing most of the concerns by business and industry groups.

“Hence, there is no better time to reform our corporate income tax [CIT] system and modernize our fiscal incentives than now. This

could be the most important economic reform in decades. As the statements of our partners in industry and civil society show, the economy can no longer bear any delay in this reform. Now is the time do it,” he said.

The CREATE seeks an outright cut in the country’s CIT rate from 30 percent to 25 percent, making it “the first-ever revenue-eroding package proposed by the Department of Finance (DOF).”

The country’s CIT rate of 30 percent is the highest in the region.

The CIT will be reduced further by 1 percentage point every year from 2023 to 2027 until it reaches 20 percent under the bill.

The government’s losses due to the reduction in CIT may reach at least P667 billion between 2020 and 2027, according to the DOF. With the outright cut in the CIT rate to 25 percent by July this year, the government is expecting revenue losses of P42 billion for this year. Between 2021 and 2025, the government is projecting total revenue losses to reach P625 billion. The DOF has yet to release the specific projections on the revenue

impact of CIT reduction for 2026 and 2027, when CIT is expected to further decrease.

The CREATE bill also extends the net operating loss carryover (Nolco) for non-large taxpayers from the current three years to five years, which will be credited for losses incurred in 2020.

Several business groups have earlier expressed support to the drastic cut in the CIT rate to 25 percent this year.

The Makati Business Club (MBC) also urged Congress for the swift passage of the bill to end two years of uncertainty for investors.

However, MBC urged the DOF and Congress to add five years to the sunset provisions in Citira for existing investors, and offer new investors at least 10 years, given the impact of Covid-19.

Under the CREATE bill, there will be a longer sunset transition period for firms currently enjoying the special rate of 5 percent on gross income earned (GIE) incentive.

A transitory period of four

years is being proposed for those companies enjoying the GIE incentive for more than 10 years, sunset period of five years for those enjoying the GIE incentive for five to 10 years, seven-year transition period for firms enjoying GIE below five years and nine-year sunset period for 100 percent exporters with at least 10,000 employment and footloose projects or activities.

But Dominguez told reporters: “Right now, I think our proposal is already very generous as it is.”

Salceda added he is not keen on adopting the proposal of MBC, arguing that investors could opt to switch to the new framework.

“Yung five years, sagad na ako…

Pwede naman sila mag-switch dun sa bago e. Kitang-kita naman ang spirit of Citira is toward attracting new investment. So kung naliliitan sila sa additional two, gusto pa nila ng additional five…I think they could easily get the same amount of fiscal risk adjusted financial rewards by considering the switching to the new attraction…,” he said.

‘Sin’ tax collection dips 57.1% to ₧31B on virus lockdown Continued from A1

Meanwhile, excise tax take on alcohol only reached 0.02 billion, falling by 99.6 percent from P5.7 billion in April 2019.

The amount collected for fermented liquors during the month was only P0.01 billion, 99.9 percent lower than the P4.4 billion recorded last year.

For the same period, only P0.02 billion was drawn from distilled spirits, plunging by 98.6 percent from April 2019’s P1.3 billion.

From January to April this year, the volume of removals for cigarettes also declined by 72 percent to 376.3 million packs from 1.343 billion packs a year ago.

Meanwhile, alcohol removals dropped by 50 percent.

The volume of removals for fermented liquors for the fourmonth period sank by 49.6 per-

cent to 362.8 million liters. This was way below last year’s 719.8 million liters.

On the other hand, distilled spirits showed a 51.8-percent decrease to 71.5 million proof liters from 148.2 million proof liters in January to April 2019.

For April, the volume of removals of sin products declined by about 100 percent this year, also due to the lockdown and liquor ban.

For cigarettes, the volume of removals went down by 99.2 percent to 3 million packs from 355.5 million packs in the same month in 2019.

Likewise, fermented liquors also posted a 99.9-percent decline to 0.2 million liters, while distilled spirits recorded a 95.74-percent drop to 1.4 million proof liters.

This is way below April 2019’s 174.2 million liters and 32.5 million proof liters, respectively.

For this year, the government expects to collect P13.2 billion in incremental revenues from sin products, based on the new projections by the Cabinet-level Development Budget Coordination Committee.

For 2021 and 2022, incremental revenues from sin products are seen to reach P28.1 billion and P31.7 billion, respectively.

Overall, the government projects to collect P73.1 billion in total incremental revenues from 2020 until 2022.

This was down from its previous estimates of total incremental revenues for 2020 to 2022 of P137.3 billion.

Previously, the government estimated that total incremental revenues would reach P37.1 billion in 2020, P46.9 billion in 2021 and P53.3 billion in 2022.

Deducting the value-added

tax exemption on medicine, the new projections on net incremental revenues from sin products will be P6.4 billion in 2020, P22.7 billion in 2021 and P26 billion in 2022, or a total of P55.1 billion. This was a reduction from the previous estimates of P31.9 billion in 2020, P41.5 billion in 2021 and P47.6 billion in 2022, or a total of P121 billion.

“The revised estimates take into account the impact of the extended ECQ [enhanced community quarantine] and GCQ [general community quarantine], liquor ban and the overall decline in the demand for non-essential products or unhealthy products like alcohol and tobacco. We also consider the preliminary impact of actual excise collections from alcohol, e-cigarettes and tobacco from January to April 2020,” Beltran said.

Bernadette D. Nicolas

www.businessmirror.com.ph

Four-month budget deficit shoots up to ₧347.9B Continued from A1

billion from the previous year’s P131.3 billion.

On the other hand, total revenues during the period fell by 3.36 percent to P963 billion from P996.4 billion in 2019.

Of the total revenues, tax revenues, including those collected by the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC), only settled at P745.8 billion, down by 17.58 percent from P904.8 billion in 2019.

Meanwhile, non-tax revenues more than doubled to P217.2 billion from P91.6 billion last year.

The BTr nearly quadrupled its contribution to P164 billion as of end-April. This is way above the P41.3 billion it collected in the same period in 2019. This is also 99.33 percent above the full-year target of P82.3 billion.

Netting out interest payments, a primary deficit of P206.1 billion was also recorded from January to April this year, a turnaround from the P127.9-billion primary surplus in 2019.

For April alone, the national government’s fiscal deficit rose to P273.9 billion, reversing the P86.9-billion budget surplus in the same month in 2019.

The April outturn was attributed to a robust 108.14-percent year-on-year acceleration in government spending versus the 39.17-percent drop in revenue collection due to the health crisis.

Expenditures in April soared to P461.7 billion, more than twice the P221.8 billion recorded in the same month last year.

Interest payments for the month were recorded at P21.9 billion, down by 7.04 percent or P1.7 billion compared to the same period last year due to a high base effect from April 2019 interest payments and maturities.

Total revenues for the month sank by 39.17 percent to P187.8 billion from last year’s P308.7 billion.

Of the total revenues in April this year, tax collections made up 67 percent or P124.9 billion, while non-tax sources contributed 33 percent or P62.8 billion.

April collections by the BIR plummeted 61.56 percent yearon-year to settle at P90.5 billion, mainly because of the imposition of the enhanced community quarantine in Luzon and other provinces, and the extension of deadlines for filing and payment of income and other taxes due for the month.

Likewise, collections by the BOC slipped by 33.38 percent to P34.4 billion in April from P51.7 billion raised in the same month last year.

The BTr raised P52.8 billion for the month, exceeding the P10.5 billion it collected a year ago.

The strong revenue performance of BTr was credited to the remittance of dividends and other income from governmentowned and -controlled corporations in compliance with the Bayanihan law.

The national government recorded a primary deficit of P252 billion for April from a P110.4-billion primary surplus last year.

For this year, the Cabinet-level Development Budget Coordination Committee (DBCC) expects the country’s budget deficit to widen to 8.1 percent of GDP or P1.56 trillion.

The DBCC also projected revenues this year to decline to P2.613 trillion and disbursements to increase to P4.175 trillion.

In 2019, budget deficit was only P660.2 billion or 3.4 percent of GDP. Actual revenues last year reached P3.138 trillion, while disbursements amounted to P3.798 trillion.

News BusinessMirror

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Senator presses DOE to enforce EVOSS law

By Butch Fernandez @butchfBM

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OVERNMENT regulators were pressed Wednesday to speed up the process of enforcing an awaited remedial legislation mandating government to provide an online process for issuing permits to power providers that President Duterte had already signed into law way back last March 8, 2019.

Sen. Sherwin T. Gatchalian prodded the Department of Energy (DOE) to promptly implement the Energy Virtual One-Stop Shop (EVOSS) Law that Congress earlier passed to speed up the permitting process of power generation, transmission, and distribution in the Philippines under an enabling law will remain unimpeded as the country remains in quarantine.

Stressing the importance of enforcing the new law, the senator suggested the DOE can proceed to set EVOSS in motion even in the midst of the Covid-19 pandemic, pointing out that it is “simply an online process of completing requirements of energy-related projects.”

Gatchalian, chairman of the Senate energy committee, pointed out that the EVOSS will operate as “a virtual storage of integrated shared services of all government offices, including government -owned and -controlled corporations [GOCCs] and local government units [LGUs] involved in the process of power generation, transmission or distribution.”

In a news statement, the senator prodded all agencies involved to start the “contactless processes and approvals through an online system” so that the people will not be compelled to be physically present in all agencies for the necessary permits they need.

He noted the timely passage of the new law in the midst of the raging contagion, which requires “social distancing” to prevent spreading the deadly virus.

“Sa panahon ngayon na ang lahat ay dapat may social distancing, malaki ang maitutulong ng EVOSS Law upang tuloy-tuloy pa rin ang pag proseso ng mga energyrelated permits dahil ang lahat ng ito ay maaaring i-proseso online.

EVOSS is the perfect tool for new normal. I will make sure that this law will be implemented,” added Gatchalian.

The senator said that the spirit of the EVOSS law “is really to get rid of the red tape in the energy sector by promoting a faster, practical, and simplified process to ensure the quality, reliability and security of energy and expedite the process of supply to meet the country’s demand in a timely manner even during extraordinary times such as pandemics.”

Editor: Vittorio V. Vitug • Thursday, May 28, 2020 A3

DOJ tells LGU execs: Allow virus negative OFWs home or face raps

By Joel R. San Juan @jrsanjuan1573

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USTICE Secretary Menardo Guevarra on Wednesday vowed the speedy resolution of cases that would be filed against local government officials who will deny the entry to returning overseas Filipino workers (OFWs) who have already completed their 14-day quarantine and found to be negative of Covid-19.

Guevarra made the assurance as 24,000 repatriated OFWs are expected to return to their respective hometowns after completing the mandatory quarantine period in Metro Manila.

Guevarra said he had already given instructions to the National Prosecution Service (NPS) to prioritize the investigation of cases that violate the Bayanihan to Heal As One Act. L a s t M o n d a y, P r e s i d e n t

Duterte ordered concerned government agencies such as the Department of Labor and Employment (DOLE) and the Overseas Workers Welfare Administration (OW WA) to send home t he est i m ated 24 ,0 0 0 OF Ws who have already finished the mandator y quarantine period in Metro Manila.

Duterte said these OFWs, dubbed as the country’s “modern day heroes,” should be allowed to return home to

their families and loved ones in the name of humanity and because it is their constitutional right to travel and go home.

He warned LGUs not to obstruct the movement of people because they run the risk of getting sued criminally.

“The President has already given instructions to all LGUs to accept the returning 24,000 OFWs to their hometowns. If LGU officials continue to defy this directive,

they may be held administratively and criminally liable for violations of the Bayanihan Act,” Guevarra said.

“As SOJ [Secretary of Justice], I have already given instructions to the National Prosecution Service to give priority to the investigation of any and all cases related to the implementation of the Bayanihan Act and the various measures taken by the government pursuant thereto,” he added.

Measure allowing 35-hr workweek scheme Target beneficiaries for second tranche for private employees up for plenary okay of SAP may exceed 17M, Palace says

By Jovee Marie N. dela Cruz

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@joveemarie

HE House Committee on Labor and Employment on Wednesday approved the bill instituting a 35-hour working scheme as an alternative work arrangement for employees in the private sector.

Voting unanimously, members of the committee, chaired by 1-Pacman Rep. Enrico Pineda, endorsed for plenary approval House Bill 309.

Albay Rep. Joey Salceda, principal authors of the bill, said the measure seeks to promote not only higher levels of productivity but also the welfare of workers.

He said the flexibility in workplaces accommodated the special needs of families, mothers and older workers.

“Shorter work hours saved on utility bills, and resulted to fewer cars on the road during rush hours,” he said.

Under the bill, an employer in the private sector may, upon request of its employees, or on a voluntary basis, implement a 35-hour workweek arrangement for its employees upon such terms and conditions as they may mutually agree upon, including arrangements for flexible working time.

In all cases, the bill said employer shall ensure that the employees under a 35-hour work-

ing week scheme shall:

Receive a rate of pay, including overtime, night shift differential and other similar monetary benefits, not lower than those provided in applicable laws, and collective bargaining agreements;

Have the right to rest periods as provided for by law;

Have equivalent workload and the same performance standards as those of comparable employees in the company; and

Be provided by the employer with written information on the terms and conditions of the 35-hour workweek scheme adopted, and the corresponding responsibilities of the employees under such arrangement.

Also, the bill said the parties to a 35-hour working week arrangement shall be primarily responsible for its administration. In cases of conflict during implementation of the scheme, the differences shall be resolved under the grievance mechanism of the company.

For companies without grievance machineries or whose mechanisms are inadequate, the grievance shall be referred to the Department of Labor and Employment for resolution, the bill said.

For this purpose, the measure said employers shall keep and maintain, as part of their records, documents proving that a 35-hour working week arrangement was adopted.

PNP launches Helpline 16677

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HE Philippine National Police (PNP) launched on Wednesday the PNP Helpline 16677, a communication hot line dedicated for public assistance and response in support of police operations, notably during the quarantine period.

PNP chief Gen. Archie Gamboa said the project ensures police’s quick response to urgent issues and concerns from the community related to the implementation of enhanced community quarantine (ECQ) and general community quarantine (GCQ) that characterize the “new normal.”

The Helpline 16677 was launched in partnership with the Philippine Long Distance Company.

The PNP Directorate for Opera-

tions-PNP Command Center (DOPCC) will be serve as the communication hub for ECQ and GCQ concerns, aside from its daily monitoring system relative to police operations and updates on law enforcement.

The PLDT, one of the country’s top communications service providers, donated 52 units of mobile phones with load, 30 units of pocket Wi-fi, 100 pieces of P300 worth prepaid cards, Enterprise SMS Messaging Suite and PNP Helpline 16677.

“Within the month, the DO-PCC was able to complete all technical and administrative requirements for this new communication system, from coordination with PLDT, system configuration, setup and testing of the 16677 platform,” Gamboa said. Rene Acosta

The Doctors’ Hospital in Bacolod City sets up own RT-PCR bio-lab for Covid-19 testing

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ACOLOD C it y, Negros Occidental—The Doctors’ Hospital Inc. (TDHI), a Mount Grace partner, has announced that it will soon acquire realtime polymerase chain reaction (RT-PCR)-based laboratory set-up within its hospital grounds.

TDHI initiated the project in collaboration with Mount Grace Hospitals Inc. and United Laboratories Inc. (UNILAB) to help expand the country’s RT-PCR-based testing capability in the ongoing battle against Covid-19.

The RT-PCR bio-lab will be located at the parking area of the hospital, which will be housed in a shipping container van with the help from ENDEC Inc., a company engaged in engineering and construction management.

The design has earned the laboratory the distinction of being the first of its kind in the country. Despite

its uncommon design, quality and safety have not been compromised. The bio-lab is compliant with the safety standards of a Biosafety Level 2 Laboratory (BSL2).

In addition to its high design and quality standards, the bio-lab is equipped with the same RT-PCR machine being used by the Department of Health-accredited Covid-19 testing facilities.

Soon, the laboratory will be fully operational and will give the medical community and the general public access to readily available RT-PCR tests.

By Samuel P. Medenilla @sam_medenilla

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ALACAÑANG on Tuesday said the number of beneficiaries for the second tranche of the Social Amelioration Program (SAP) of the Department of Social Welfare and Development (DSWD) could still exceed its target 17 million beneficiaries.

“If we will have a remaining money [for the SAP], then will use all of it for the assistance,” Presidential spokesman Harry Roque said during an online news briefing on Tuesday.

DSWD’s Assistance to Individuals in Crisis Situation (AICS) is a P200-billion government program, which provides cash aid for two months, which ranged between P5,000 and P8,000, to poor families nationwide.

During the implementation of its first tranche, which has an allocated P100-billion budget, it benefited around 18 million poor nationwide.

But for its second part, Roque said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) opted limit the scope of the program to areas under enhanced community

quarantine (ECQ ), where most business operations grounded to a halt.

Following the said specifications, DSWD picked only 12 million poor families, who are already AICS recipients residing in ECQ areas to become part of the second tranche of the program.

Since the P100-billion budget for the second tranche is good for 18 million beneficiaries, the government opted to include an additional 4.9 million beneficiaries, who were “left out” in the initial implementation of the AICS. In a related development, the Department of the Interior and Local Government (DILG) was already able to file cases against 143 barangay officials, who allegedly misused AICS funds.

“We thank [Justice] Secretary [Menardo] Guevarra for giving the order to accommodate and give priority in our fiscal the cases involving SAP distribution,” Interior Secretary Eduardo Año said.

To prevent similar irregularities in the distribution of the second tranche of AICS, DSWD will no longer pass through local government units and instead directly sent to beneficiaries through digital payments, or distributed by personnel of the Armed Forces of the Philippines.

House panel approves ₧1.5-T stimulus bill to boost infra spend, create jobs in regions

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HE social amelioration cluster of the House Defeat Covid-19 Committee (DCC) has recently approved a new P1.5trillion stimulus package to bolster infrastructure spending and create more jobs in the countryside.

Deputy Speaker for Finance Luis Raymund Villafuerte said House Bill 6709, or the Covid-19 Unemployment Reduction Economic Stimulus (CURES) Act of 2020, is guaranteed to create a multitude of employment opportunities, especially in rural areas to partly make up for the jobs that were lost amid the coronavirus pandemic.

HB 6709 is distinct and separate from the proposed P1.3-trillion Enhanced Stimulus Program for Economic Recovery and Advancement Act, or HB 6815, of the House DCC economic cluster headed by House Committee on Ways and Means Chairman and Albay Rep. Joey Salceda. The EPSERA is now pending before the plenary approval.

Moreover, Villafuerte said the swift congressional approval of the proposed CURES Act will help ease the pressure on the Duterte administration to create hundreds of thousands of jobs this year, now that the Covid-19 crisis has displaced—according to the Department of Labor and Employment (DOLE)—almost 2.76 million workers as more than 102,000 establishments have closed shop, or adopted flexible work arrangements, since the imposition of lockdowns nationwide.

Villafuerte said the cluster approved HB 6709 last Tuesday in support of President Duterte’s Balik Probinsya, Bagong Pag-Asa program, which—according to the National Housing Authority (NHA)—has so

far attracted some 53,000 city dwellers who have submitted online applications signifying their interest in returning to their home provinces.

Villafuerte along with Speaker Alan Peter Cayetano and seven more House leaders authored HB 6709, or the CURES Act, which aims to spur regional growth by allocating P1.5 trillion over the next three years for accelerated countryside spending on health, education, agriculture, local road and livelihood (HEAL) infrastructure.

HB 6709’s coauthors are Majority Leader and DCC co-chairman Ferdinand Martin Romualdez; Deputy Speakers Paolo Duterte and Loren Legarda; and Reps. Eric Yap, Maria Laarni Cayetano, Michael Defensor and Jose Antonio Sy-Alvarado.

Romualdez said the DCC, which is the mother committee, will approve this P1.5-trillion CURES Act on Thursday.

Moreover, Villafuerte cited the urgency of creating a lot of jobs in the countryside, given the huge number of city folk who have expressed interest in returning to their home provinces via the Balik Probinsya program. This return-to-the-provinces project was first espoused by Sen. Christopher Lawrence “Bong” Go and subsequently endorsed by President Duterte by issuing Executive Order (EO) 114.

During the DCC subcommittee hearing, Villafuerte pointed out that local HEAL projects are needed to create jobs and other livelihood opportunities in the countryside, especially for Filipinos whose incomes were lost, or reduced, because of the Covid-19 crisis.

Hence, a major government effort is needed to create a significant num-

ber of jobs in rural areas via accelerated infrastructure investments, he said, because people in the provinces would continue to flock to Metro Manila and other urban centers if major projects are put up only in these areas.

Villafuerte said the CURES fund should be automatically appropriated over and above the national budgets for the next three years, so such infrastructure development funds could be used at once to implement HEAL projects in the provinces.

Amid the high unemployment and underemployment figures, Villafuerte said the congressional passage of the CURES Act is timely because this bill aims “to gear state infrastructure spending towards maximizing the direct and indirect creation and preservation of jobs, particularly in the rural countryside.”

He explained that HB 6709 seeks to create, appropriate and automatically release a special outlay dubbed the CURES Fund equivalent to P1.5 trillion over a three-year period to bankroll infrastructure projects in the HEAL priority areas.

Villafuerte said the enactment into law of the CURES Act will “provide a significant stimulus for accelerated economic recovery in the new normal scenario, alongside President Duterte’s centerpiece program “Build, Build, Build” and further complemented by a “Plant, Plant, Plant” program for longterm food self-sufficiency.

As proposed in HB 6709, an initial P500 billion of this CURES Fund shall be released on the first year of this 2020-2022 economic stimulus and employment program, with P500 billion more for release on the second year, and the remaining P500 billion on the third and final year.

Jovee Marie N. dela Cruz

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All eyes on the Kaliwa Dam project:

By Jonathan L. Mayuga @jonlmayuga

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Reporter

s the number of coronavirus disease 2019 (Covid-19) cases in the Philippines breached the 15,000-mark, with majority in the National Capital Region (NCR), the importance of water, its sufficient supply, safety level and accessibility has been emphasized during the pandemic.

However, the onset of the dry season, worsened by the effect of climate change, the Philippines is faced anew with the water supply shortage problem.

The estimated 12 million people in the NCR are cognizant of this problem.

Just last year, the East Zone Concession in Metro Manila saw its worst water supply shortage in decades when water at the Angat Dam fell below the critical level and the supposedly reserved water at La Mesa Dam neared depletion.

Manila Water Co. Inc. has drawn water from La Mesa dam in the past to augment its limited supply or approved allocation of 2,400 million liters per day (MLD) coming from Angat. This is meant to cover for the increased demand associated with the extremely hot weather condition vis-a-vis Manila Water’s expanding area of coverage. Over the years, there has also been an increasing number of people consuming water, which apparently has gone beyond its limited resources.

A long-term solution to Metro Manila’s water woes touted by the Duterte administration: the New Centennial Water Source-Kaliwa Dam Project, a flagship project under its “Build, Build, Build” (BBB) program.

Preventive project

The Kaliwa Dam is just one of several projects being pursued by the Metropolitan Waterworks and Sewerage System (MWSS) under its Water Security Plan for 2018-2023.

The project is expected to provide redundancy of water source and augment supply from Angat Dam, hence, preventing water shortage problems. It aims to ease the strain on the Angat-Ipo-LaMesa water system and ensure water supply during the occurrence of El Niño.

The measure consists of the AB-C projects and the Wawa Dam project of the consortium led by businessmen Enrique K. Razon and Oscar Violago pending the completion of the Kaliwa Dam. Funded by the Chinese government through Official Development Assistance (ODA) from China, the P12.2-billion Kaliwa Dam project will be implemented by the China Energy Engineering Corp. (CEEC).

The dam, 60 meters in height, will be built along the Kaliwa (left) River, within the jurisdiction of Barangay Pagsangahan, General Nakar municipality, and Barangay Magsaysay, Infanta municipality, both in Quezon Province. It will be complemented by a 27.7-kilometer raw-water conveyance tunnel that will lead to water treatment facilities.

Easing pressure

The proposed locations of the water treatment facilities are in Antipolo, which is 29 aerial kilometers southeast of Manila, and Theresa, Rizal which is 27 aerial kilometers southeast of Manila.

Once completed, the project which has the capacity to provide 600 million liters per day of raw water although its capacity of 2,400 MLD per day can be maximized, hence, easing the pressure on the 60-year-old Angat dam, currently the source of 97 percent of raw water being supplied to Metro Manila and nearby towns of Cavite and Rizal.

The need for a new water source in light of the increasing population vis-a-vis the limited capacity of the Angat dam to store water and provide adequate supply to meet the ever-growing demand in Metro Manila is unquestionable.

T he l inger ing quest ion is: “Will the promised benefits of the Kaliwa Dam Project outweigh or justify the costs?”

Overview of the project

The Kaliwa Dam Project is expected to be completed in five years.

Construction activities should have started last year and will be completed in 2024. But because of permit problems, the project is already delayed.

The area is within the Sierra Madre mountain range and has been identified as rich in biodiversity and high in endemism.

A good number of birds, mammals, amphibians and reptiles have been recorded in the area, along with several native trees that are critically-endangered or threatened with extinction.

The project size falls under the classification of a major dam infrastructure, categorized as an Environmentally- Critical Project (ECP) requiring an Environmental Impact Statement (EIS).

Documents reveal it is also located in an Environmentally Critical Area (ECA); the Kaliwa Dam watershed being partly covered by Proclamation 573 (1969) as the Kaliwa Watershed Forest Reserve (KWFR).

At the same time, the project site is within the National Integrated Protected Area System (Nipas) having been proclaimed as National Park and Wildlife Sanctuary and Game Refuge Reservation by virtue of Proclamation 1636 in 1977. Moreover, a more recent proclamation is the Certificate of Ancestral Domain Title (CADT) awarded to the DumagatRemontado indigenous peoples; a part of their area lies inside the Kaliwa River watershed.

Prior compliance

According to MWSS Administrator Emmanuel B. Salamat, the CEEC is proceeding with a detailed engineering design of the project on a “design-build contractual” arrangement between the MWSS and the CEEC. So far, the Env ironmenta l Management Bureau (EMB) of the Department of Environment and Natural Resources (DENR) has issued an environmental compliance certificate (ECC) for the project last November 11, 2019.

Subsequently, a “Notice to Proceed for the Detailed Design Phase” was

issued to the CEEC on November 13, 2019.

Prior to the lockdown in March, engineers and surveyors of CEEC were conducting topographic and geological surveys along the tunnel alignment and the dam site, Salamat said.

Meanwhile, the MWSS was conducting prior compliance for issuing “possession of site” for the project facilities, where the initial construction activities will begin, starting with the camp construction site facilities that will house engineers and other workers.

At the same time, the MWSS and its project partners said in early March they were currently coordinating with people in affected communities to ensure “smooth construction operations.”

Lead to loss

The project’s positive and negative impacts to the social, cultural and economic activities of communities, including the potential environmental problems and how the proponents plan to prevent or address them were identified in the environmental impact assessment (EIA) submitted by the MWSS to the DENR-EMB. According to the document,

the pre-construction activities would alter the natural landscape and its aesthetic value. These activities would, ironically, lead to deteriorated water quality that would potentially lead to health and sanitation problems, the EIA report said.

As the project will require mobility and use heavy equipment and other motor vehicles to bring in construction materials, the project will lead to permanent loss and disturbance to existing vegetation in the project site.

During the pre-construction phase, there will be possible death, or disturbance, and displacement of wildlife species and destruction or damage to habitat.

Expected changes

Meanwhile, during the operation of the dam, the expected impact includes land submergence of some springs and caves in Barangay Daraitan, the starting point for a popular route for hikers. An operational dam is also expected to alter the migration pattern of aquatic organisms, more habitat loss and fragmentation, the EIA report noted.

The large-scale clearing of vegetation in the construction site

will likely lead to altered movements and dispersal of wildlife, and proliferation of invasive alien species or the invasion of non-native and degraded habitatassociated species.

The EIA also identified water use conflict and the loss of food source and navigation access from Barangay Daraitan to Sitio Quebobosa as potential problems that would impact residents.

Creating jobs

The proponents said it would implement mitigating measures to prevent disasters and minimize the impact on the environment from the project during the preconstruction and actual construction of the dam and the conveyance tunnel.

Salamat acknowledges that many, particularly indigenous peoples, live by the bounty of the Sierra Madre mountain range and would be affected by the project “as the land is the source of food and subsistence of the IP communities.” However, he said would-be affected communities would not be left behind.

“They plant crops, vegetables and fruit-bearing trees,” Salamat said. “Livelihood is through agro-

forestry, rice, and fishing.”

He explained that the MWSS has formulated an integrated community development plan that included watershed, indigenous peoples and social development plans.

Salamat said the affected communities would be relocated and receive compensation.

Engaging the people

The claims and benefits, Salamat said, are the subjects of negotiations between the indigenous peoples in Rizal and Quezon and the MWSS. According to him, two memoranda of agreements (MOAs) were expected finalized by the end of March. Meanwhile, the indigenous people’s communities are also crafting their respective community resource development plans.

Salamat pointed out the upside of the project includes the generation of jobs and livelihood for the communities during the pre-construction and operation phases of the project. Of course, he said, it would achieve the ultimate goal of having a sustainable source of water for Metro Manila, Rizal, Cavite and Bulacan.

aderLook

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Will its benefits outweigh the costs? ect has failed to secure “free prior and informed consent,” or FPIC, from the Dumagat and Remontado indigenous peoples as required by RA 8371. According to the United Nations, the FPIC is a pre-requisite for any activity that affects indigenous peoples’ ancestral lands, territories and natural resources.

Obanil claims that leaders of these communities have questioned the process undertaken by the NCIP for securing the FPIC. He said the indigenous peoples have not been provided with copies of relevant documents from the MWSS that are essential for evaluating and making informed decisions.

Conditions unmet

Moreover, Obanil said the ECC for the project is marred by procedural violations and fails to employ good science in accounting for potential impacts of the project.

According to Obanil, the ECC issued by the DENR lists down numerous conditions that need to be met by the project proponent.

These conditions, such as permits from relevant LGUs and governmental bodies, should have been complied with before and not after the issuance of the ECC, he added.

Moreover, Obanil questioned why the MWSS, through the Department of Public Works and Highways (DPWH), has started to build the access road to the dam site. This, he said, is a violation of the law since the construction has no permit from the Protected Area Management Board (PAMB) or from the LGU of Infanta under whose jurisdiction covers part of the road.

“The road project also does not have permission from the indigenous peoples through the FPIC nor an ECC from DENR as require by law,” Obanil said.

Philippine biodiversity

Salamat said that indigenous peoples have been helping the MWSS and the CEEC in their surveys.

‘Narrow-minded minority’

Opposition to the project, however, continues to grow.

There’s the Stop Kaliwa Dam Network (SKDN) organization whose opposition to the construction of the Kaliwa Dam is evidence-based and broad-based, according to its spokesman Rovik S. Obanil.

This is contrary to the government’s claim that only a few “narrow-minded minority” are opposed to the development, Obanil said.

He claims that “on the ground, only the Municipal Development Council of Gen. Nakar, and not the Sanggunian Bayan as required by law, is openly in favor of the dam, unmindful of how the Kaliwa Dam, once constructed will affect the water source of General Nakar.”

According to Obanil, the adjacent municipalities of Infanta and Real have already rejected the project. He added that while the local government unit (LGU) of Tanay has endorsed the project, he

said they did so with reservation and laid down explicit conditions that remain unmet.

“At the national level, a broad grouping of organizations and individuals have already clearly articulated their arguments against Kaliwa Dam on the basis of its negative social, cultural, environmental impacts and economic impacts,” Obanil said.

To take years

Obanil said the Kaliwa Dam is not a silver bullet that will solve the problem of water scarcity in Metro Manila.

He noted that the dam will require several years to construct and, by the government’s own proposed timeline, the dam will not be completed until 2023.

“In other words, the additional supply it is supposed to provide will not be available to address the current supply deficit that [water utility companies] claim is the root of the massive water service interruptions experienced in their service area for almost three weeks last year,” Obanil said.

He also debunked the claim that a large dam is needed in order to deal with a water shortage.

Obanil pointed out viable alterna-

tives that can address the problem of current and future supply deficits.

“Strong watershed management and biodiversity protection of all watersheds around Metro Manila, including the La Mesa watershed, good water governance and strong government regulation of the two water concessionaires will go a long way towards providing Metro Manila with sustainable water sources,” he said. “Laguna Bay and Wawa Dam have also been identified by experts as viable water sources.”

Reducing demand

Beyond looking at the supply side of the equation, Obanil said there is a dire need at actually reducing demand. This could be achieved by aggressively promoting water conservation through massive education campaign aimed at consumers and reducing non-revenue water by concessionaires.

Obanil added that a huge volume of water is lost because of leaks and pilferage.

“Maynilad’s current non-revenue water (NRW) or water lost due to leaks and pilferage alone, for example, represents close to 80 percent of expected output from

Kaliwa,” he said. “Meanwhile, the average consumption of the East zone has reportedly reached 200 liters a day per person or equivalent to a drum of water per day per person.”

Obanil said the government should lead the way in conserving water by recycling used water and investing in rainwater harvesting.

“We have so much rainwater and need to look at impounding [it],” he said. “We should also seriously consider proposals to separate drinking water from water used to flush toilets and other needs in order to drastically cut water consumption.”

Issues, problems

According to Obanil, there are also legal and moral issues involved in pursuing the Kaliwa Dam project.

“Proceeding with the project, as it is to be built within the ancestral domain of the Dumagat and Remontado indigenous peoples, will violate” several laws, he said. He cited these as Republic Act (R A) 8371 or the Indigenous Peoples Rights Act, R A 7586 or the Nipas Act and R A 11038 or the Expanded Nipas Act. According to Obanil, the proj-

According to Obanil, the indigenous peoples are not the only aggrieved party in the project.

As the dam will be constructed within the Kaliwa Watershed Forest Reserve, the forest and the wildlife that thrives in the area will suffer severely, he said.

The K aliwa Watershed was dec l a red a forest reser ve by Proc l a mat ion 573 on Ju ne 22, 1968. Under Proclamation 1636 issued on April 18, 1977, a portion of the watershed was also declared as National Park and Wildlife Sanctuary, which makes it supposedly off-limits to development projects.

Conservation society Haribon Foundation said the Kaliwa Watershed is home to various threatened wildlife. These include the following: endangered Northern Philippine hawk-eagle (Nisaetus philippensis); the Philippine brown deer (Rusa marianna); the Philippine warty pig (Sus philippensis); the vulnerable Northern rufous hornbill (Buceros hydrocorax); and, the critically endangered Philippine eagle (Pithecophaga jefferyi). The wildlife also includes restrictedrange birds of the Luzon Endemic Bird Area, all of which are found nowhere else on the planet.

Meanwhile, the forests and coastline of the Kaliwa Watershed was declared in Presidential Proclamation 1636 (series of 1977) as habitat to 15 species of amphibians, 334 bird species, 1476 fish species, 963 invertebrate species, 81 mammal species, 50 plant species and 60 reptile species.

Land area

Based on SKDN’s study, the construction of the dam will inundate Barangay Daraitan in Tanay, Rizal, with a population of 1,000 households and 500 households

from Pagsangahan, General Nakar, Quezon.

“This will mean the loss of significant income for the area due to the loss of eco-tourism in the Tinipak River, which has seen a boom in recent years,” he said.

According to the study, the dam will impact the areas further downstream, particularly the Municipality of Infanta, which will lose the benefit of sediment-carrying river flows.

“Infanta’s land area will see a significant reduction as a result.

Irrigation to the rice paddies in Infanta will be affected,” Obanil said.

Active faults

He added that another reason for their opposition to the project is their knowledge that the Kaliwa Dam will be built within the zone of two active tectonic plates represented by the Philippine Fault Zone and the Valley Fault System.

Obanil cited the results of the Japan International Cooperation Agency (JICA) study “The Study on Water Resources Development for Metro Manila in the Republic of the Philippines” in 2003.

“Along the Philippine Fault, many large-scale earthquakes were recorded in the past and the relative movement of six centimeters was observed in the period of 1991 to 1993,” he said. “Therefore, it can be said that the Philippine Fault Zone has a potential to cause very high seismic activity, as what has been recorded in the July 18, 1880, earthquake where the old churches of Infanta, Mauban, (both in Quezon province) and Manila Cathedral was devastated.”

New debts

Lastly, Obanil said because the project will be financed through ODA from China, it will only add debt and tie the Philippines to “an onerous loan we do not need.”

“The current financing scheme for the project, an ODA loan from China through the China Export Import Bank (CEIB) will add to the country’s ballooning debt, which is expected to hit an alltime high of P8 trillion this year, a huge 33.33-percent increase from the time the Duterte government took over in 2016,” says Obanil, who works for SKDMmember organization Freedom from Debt Coalition.

“More than this, it binds the country to an onerous agreement that encroaches on our sovereignty and opens up assets and natural resources to potential seizure by China,” he added.

Serious question

Another lop-sided provision in the Preferential Buyer’s Credit Loan Agreement with the ExportImport Bank of China is included in one of its sections.

Such section states that the agreement and all rights and obligations between the parties “shall be governed by and construed in accordance with the laws of China,” and one which prescribes that dispute will be settled through arbitration under the auspices of the Hong Kong International Arbitration Centre, a Chinese arbitration body, Obanil pointed out.

“On top of these is the higher interest rate—2 percent compared to the 0.25 percent to 0.75 percent—being offered by Japan, as well as a commitment fee of 0.3 percent and management fee of 0.3 percent,” he added.

He said taken together, the reasons are more than enough to ca l l into ser ious question the wisdom of pushing through w ith the construction of the K aliwa Dam.

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Haunting drama ‘A Confession’ puts police in ethical turmoil ACCLAIMED British actress Imelda Staunton in one of the most powerful scenes in the limited series A Confession. AP

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By Mark Kennedy The Associated Press

EW YORK—Most actresses like to meet the real person who inspired the role they’re about to tackle. Not Imelda Staunton. Not for her latest job.

The English stage and screen star plays a mother who for years held out hope that her estranged and troubled daughter was still alive, only to discover she’d been murdered by a serial killer.

“I didn’t want to meet her because I didn’t know what to say. What do you say to a woman who’s had that happened to?” Staunton asked.

Staunton would eventually meet her counterpart twice, which informed her searing portrayal of a mother struggling to find answers in the series A Confession. The six-part series based on real events from writer Jeff Pope focuses on how a detective played by Martin Freeman broke strict police protocol and put his career in jeopardy to lure a confession from the serial killer.

The killer has murdered and buried the bodies of two young women whose families live a few doors apart in the southwest English city of Swindon. The disappearance of one of the women in 2011 prompts an investigation into whether an eight-year-old missing woman case is connected.

Staunton plays Karen Edwards, the mother of the long-missing young woman. The actress calls Edwards “terribly forthcoming” and said she couldn’t fathom the grief Edwards felt after years of hoping.

“I always push to the back whatever I’m feeling because I just think I can’t even touch what she’s gone through her entire life,” she said.

The series is not a typically lurid chase to catch a murderer. No killings are shown and A Confession is more interested in the effects of the crime and the way the police’s actions get caught in a legal dogfight.

“It was beautifully written. There was no sensationalism in it, no voyeuristic qualities. It is straight down the line, sort of journalistic writing, if you like,” said Staunton.

“We didn’t want to make it any more gruesome or sensational than it already was.” The first half of the series unravels the crimes and then the second half deals with the fallout. Judges find the way the serial killer confessed to the second crime—without a second Miranda-type warning—voided the case, infuriating victims and the lead detective.

“You’d like to think that common sense would rule and here it didn’t,” director Paul Andrew Williams said. “I think with anything when you have a blanket rule that’s not based on individual scenarios, then I

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Carey Mulligan, 35; Kylie Minogue, 52; Christa Miller, 56; Gladys Knight, 76.

Happy Birthday: A passionate approach to whatever you take on this year will draw interest and encouragement to finish what you start. You’ll learn if you use a creative process to develop a plan that will address issues that have held you back in the past.

Trust only well-sourced facts to avoid being taken advantage of or misled. Your lucky numbers are 7, 13, 22, 28, 31, 35, 43.

a

ARIES (March 21-April 19): Don’t hesitate to make a change or share your thoughts with a close friend or lover. Set long-term goals that will give you something to look forward to achieving. Don’t trust someone who has disappointed you. HHHHH

b

TAURUS (April 20-May 20): Don’t jump into something for the wrong reason. If your emotions are behind your desire for change, take a step back and consider what you want. A premature move will set you back. Don’t let your heart rule your head. HH

c

GEMINI (May 21-June 20): Reasonable personal improvements will lift your spirits. A chance to make a change may entice you, but consider your motive or someone else’s before you set your plans in motion. Moderation and a strict budget will be helpful. HHHH

d

CANCER (June 21-July 22): Consider your options and how you see yourself moving forward. Paving the way to a better future doesn’t always mean more money. Having peace of mind, doing something you enjoy and taking better care of your emotional well-being are priceless. HHH

e think there’s always going to be trouble.”

Williams, who also directed several episodes of the hit series Broadchurch, says that show is almost the opposite of A Confession. If Broadchurch was a classic who-done-it mystery, the killer is revealed in the very first episode of the new series. “Viewers are interested in what the characters are dong,” he said.

Staunton agreed to the project after a stint singing Stephen Sondheim songs in a revival of Follies at the National Theatre. She was looking for a change of pace and the writing for A Confession drew her in.

Staunton is known to millions as the tyrannical teacher Dolores Umbridge in the Harry Potter films.

She earned an Academy Award nomination in Mike Leigh’s Vera Drake.

Last year she shared the screen in the Downton Abbey movie with her husband, Jim Carter, who plays the butler, Mr. Carson.

She was due to hit the stage again this summer

for a revival of Hello, Dolly! at the Adelphi Theatre in London. Performances were to begin in August but she’s not sure if fears over the coronavirus will permit it. “None of us can answer any question at the moment to do with the future,” she said. “It’s interesting that we are all in the same boat.” But then she quickly adds: “Some of us have better life jackets than others, let’s not beat about the bush there.”

One job she’s looking forward to is slipping into The Crown, Netflix’s hit drama series about the British royal family. Staunton has been tapped to be the last actress to play Queen Elizabeth II, taking the crown in the fifth season from Olivia Colman, who, in turn, succeeded Claire Foy. “I would like to be able to take that baton and do the final run and bring it home, as they say,” Staunton said. The actress has the utmost respect for the real monarch: “I think she’s remarkable. She’s remarkable in her resilience and in her fortitude.” n

National writers guild lauds director Joey Reyes with screenwriting award THE Unyon ng mga Manunulat sa Pilipinas (UMPIL) granted veteran filmmaker Jose Javier “Joey” Reyes with the 2020 Gawad Pambansang Alagad ni Balagtas Award in Screenplay, a lifetime achievement award for a Filipino writer.

UMPIL, or Writers Union of the Philippines, is the largest organization of Filipino writers in the country.

Reyes currently shares his expertise as the chairman of the Digital Filmmaking Program of the De La Salle-College of Saint Benilde School of Design and Arts.

Other literary giants who earned the recognition this year

Today’s Horoscope

include Fray Paolo Diosdado Casurao (Play in Waray), Crisanta Nelmida Flores (Literary Criticism in Filipino), Eric Gamalinda (Poetry and Fiction in English), Marra PL. Lanot (Poetry and Essay in English), Priscelina Legasto (Literary Criticism in English), Glenn Sevilla Mas (Play in English), Augie Rivera (Children’s Literature in English), Aida Santos (Poetry in Filipino), and Hope Sabanpan Yu (Fiction, Essay and Translation in Cebuano).

Meanwhile, UMPIL likewise granted Lourdes H. Vidal with the Gawad Paz Marquez Benitez, a lifetime achievement award for Filipino teachers of literature and

creative writing.

“After almost two months of selfisolation, the announcement that I was chosen for this year’s Gawad Pambansang Alagad ni Balagtas for Screenwriting was a most pleasant and life-affirming surprise,” he shared.

“Considering the roster of other writer-awardees this year, I have all the reasons to be pleasantly overwhelmed.”

UMPIL launched the Gawad Balagtas in 1988 and granted Philippine literature’s most remarkable talents with a citation and a sculpted hardwood trophy by internationally acclaimed Filipino artist Manuel Baldemor.

LEO (July 23-Aug. 22): A change someone wants you to make will tempt you, but consider what’s involved. Choose to bide your time. Look inward, and you’ll discover what you can do to improve. Truthfulness and being realistic begin within.

HHH

f

VIRGO (Aug. 23-Sept. 22): Avoid getting involved in someone’s problem. If you want to make a difference, consider the changes you can make to up your game. Learn something new, and expand your interests and skills. Apply your energy to physical fitness and better health. HHH

g

LIBRA (Sept. 23-Oct. 22): Take greater interest in your creative endeavors. Look for innovative ways to share what you have to offer with others. Technology will play an active role in the way you use your strengths to get ahead. Romance and personal growth are encouraged. HHHH

h

SCORPIO (Oct. 23-Nov. 21): Take a step back, and observe how others respond.

Avoid an emotional situation that could cost you if you say or do the wrong thing. Focus on home and family and putting everything in its place. HH

i

SAGITTARIUS (Nov. 22-Dec. 21): Be open to suggestions, but don’t be gullible. Don’t expect everyone to be beneficial. Paying attention to the way you look and how you take care of your health and well-being will make a difference. HHHHH

j

CAPRICORN (Dec. 22-Jan. 19): Change begins within. Consider what you want to achieve and the best way to turn what you already have into what you desire. Discipline and hard work will pay off.

Avoid situations that are physically compromising or could hurt your reputation. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Make your place comfortable and geared toward being more productive. Don’t be fooled by someone’s lavish plan or persuasive tactics to separate you from your money. A straightforward layout and small expenditure will be sufficient to satisfy your needs. HHH

l

PISCES (Feb. 19-March 20): Take on only what’s feasible. Honesty and integrity will be mandatory when dealing with others.

Problems at home will arise if you can’t get along with someone who lives with or near you. HHH Birthday Baby: You are intelligent, unpredictable and curious.

You are helpful and approachable.

‘finish strong’ by evan kalish The Universal Crossword/Edited by David Steinberg

ACROSS 1 Comedy sketches 6 Not quite shut 10 Buzzer?

13 Chef and humanitarian Jose 15 Vatican City resident 16 ___ the day 17 Self-publishing possibility 19 SNL alum Gasteyer 20 Egg cell 21 2016 Olympics host 22 Trivial task 24 Dream phase of sleep, briefly 25 Cereal whose mascot is often depicted saluting 28 Unexciting 30 Coral ecosystem 31 Top squad of athletes 33 “___ Lake” 35 Composer Stravinsky 39 Resolve nicely...and a hint to 17-, 25-, 48- and 59-Across 42 Go bankrupt, in Monopoly 43 You can’t avoid it 44 Etta James and Adele, musically

5 Collection of online posts 4 47 Bridge of Spies costar Alan 48 Puffed orange snack 52 Race at a red light?

55 Spinoff of The Mary Tyler Moore Show 56 Celestial sphere 57 Top of many a statehouse 58 PC key near the space bar 59 Absolutely nothing 63 Actress Saldana or Kazan 64 Drove very fast 65 “Streamed that last week” 66 Slithering swimmer 67 Black gem 68 Flummox DOWN 1 Enjoy every moment of 2 Scoundrel 3 Unique assignments for students?

4 Prune 5 Studio construction 6 Protection from splattering 7 MSNBC’s Morning ___ 8 Some HS classes

9 Certain adopted pet, informally 10 Former coin in Cannes 11 Break after recess, perhaps 12 “For sure!”

14 Wine grape with a dark skin 18 Spot at the casino?

23 Pitcher’s mound locale 25 Stealthy garb, for short 26 Construction site sight 27 Figure on a Monopoly deed 29 Erie’s bottom 31 Leather-piercing tool 32 Additionally 33 Studio structure 34 Comedic quality 36 Do a lot of traveling 37 Activist Yoko 38 Abbr. within “boulevards” 40 Spooky aerial sightings 41 Corridor 46 Result in 47 Meat sandwich chain 48 Actress Sevigny or Moretz 49 Holiday Inn or Quality Inn 50 Ancient manuscript

1 .com address, e.g.

5 53 One usually has a subject line 54 Sporty Chevy 55 Demolish 57 Expelled for breaking the rules, informally 60 Charged particle 61 Arid 62 Aquatic expanse Solution to yesterday’s puzzle:

Parentlife BusinessMirror

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Thursday, May 28, 2020

A9

The strong new normal ‘paren-team’: Part II CLOCKWISE: How we transformed our living room in to an “Active Parenteam Corner” with a tent napping area, common puzzle area where everyone can just go to for a break, and makeshift study table with art supplies, a setup that makes it possible for us to use only one air-conditioner in the afternoon; our new paren-team member, Brad, after his bath courtesy of Meagan; Meagan and Marcus attending their fencing classes online courtesy of the Republic Fencing Club; my kids are now part of our paren-team because they help out a lot.

L

AST week I shared that the first step to the “new normal” is to gather positive reflections on the good things we have learned and can continue after this lockdown period.

Second, I also shared my belief that a strong “parenteam” today is needed for all of us to get through these trying times. Below is a continuation of the tips I shared last week in building resilience and positivity within our paren-teams: PARENTS/ADULTS ■ SPEND WISELY. We are all tasked to provide for our families regardless of what income we are able to generate at this point. Remember to spend wisely because of this uncertainty. Save where you can like on utilities. You can share rooms by putting up air mattresses. Remember that school enrollment is just around the corner, and we might not have the same income as last year. Also, we must be prepared if another lockdown is declared.

■ UNDERSTAND DISTANCE LEARNING. Most schools are opting for distance learning for the remainder of the fourth quarter. Parents, kids and even many schools were not fully prepared for it. Now that the first quarter has been announced to be distance learning for most of our kids, it is important for us to understand how our child is performing. Is he able to do the work without physical supervision? Is he able to even attend class? I will write on this topic more next week.

■ CREATE A POSITIVE AND EFFICIENT “WORK FROM HOME” FLOW. Try to work out a family schedule instead of a personal schedule. For me, routine and responsibility are key in providing positive security for everyone in the house. Chores are a good addition to the family schedule. Try to also transform physical spaces into a “conditioning” tool, so our kids and even us are better psyched to perform the intended activity for that period of time. I learned from Reset.

Ph’s Facebook live seminar last week, titled “Are You Ready for the New Parenting Normal?,” to have a snack buffet ready in the morning that is good for the whole day. This ensures healthy choices, and it saves us time, as well.

OLDER MEMBERS OF OUR FAMILY ■ KEEP ACTIVE. Whether your older members of the family are with you or are living separately, you need to ensure they are on a routine that keeps their mind, body and spirit active. I call it a “One-A-Day” boost. For mind, this can be an assigned mental activity—Sudoku, puzzles, reading or attending Webinars. For body, this can be an online exercise class for seniors, a designated number of rounds of walking around a safe area, or even handgrip exercises like writing.

For spirit, this can be one phone call a day to a friend, or a daily art activity whether painting or doing coloring books.

■ STAY ATTUNED. Keep them abreast on the news

whether online, radio or television. Since we might not have time to watch the news ourselves, let them be our source of information through our family Viber groups.

COMMUNITY ■ KNOW AND BE CLEAR. Each family member requires different community support to keep ourselves healthy. It is important to identify who our family support community would be. For our kids, it is the school, their enrichment providers, and even their friends. For us, it would be our work family and personal friends. Be clear with yourself what your expectations are and if possible communicate with them. For example, if your child is having issues on

submitting homework, it might be helpful to request from the teacher or from a friend a “buddy system” to help your child.

■ BE OPEN AND FLEXIBLE. If Covid-19 has taught me anything, whether personally or professionally, we need to be willing to reassess our openness, instead of becoming frustrated. Research and listen with all the online information available today.

Correct and edit existing practices and even policies in the office to ensure positive output. We all need to perform our best so we all have to level-up our game.

Let’s not allow our rigid personalities and old ways stand in the way of contributing to the good of our overall organization, whether this be our family, our work or the society. ■

UNICEF SCALES UP SUPPORT IN 145 COUNTRIES TO KEEP CHILDREN LEARNING AMID COVID-19 PANDEMIC

❶

❷

❸

SHOP AT HOME FOR YOUR LITTLE BUNDLE YOU can now Shop At Home and keep baby healthy and happy with Baby Company’s new online service. Touted as “The Baby Specialist,” the company is a one-stop shop with all your baby’s essentials—from diapers to bath essentials; from breastfeeding essentials to baby food; from surface cleansers and disinfectant to mild detergents; and from plush toys to rockers and walkers.

And the good news is that you can shop for all these online with its Shop At Home service in Baby Company stores in The Powerplant Mall, SM Aura Premier and SM Seaside Cebu.

Visit www.babycompany.com.ph and shop for the essentials you need and contact the designated hotline numbers of the store near you from 10 am to 3 pm weekdays. Place the order with their assigned baby specialists and make payment through their Online Fund Transfer. The order will be processed and readied the next day.

Shoppers are required to have their items picked up through their preferred third-party delivery service.

❹

❶ SWEET and Fruity Tiny Buds Baby

Natural Hand Sanitizer is made from fruit alcohol that has antibacterial effect and mild on skin.

❷ LOVINGLY made with plant-based

ingredients, Tiny Buds Natural Laundry Powder and Fabric Softener leaves baby’s clothes and linens soft and fluffy to touch that are best for your baby’s sensitive skin.

❸ NATURAL Baby Bottle Wash is

specially formulated with natural extracts and is 100 percent food safe as it removes bacteria and foul odor from leftover milk and food residue.

❹ CLEAN up your baby’s playpen, toys, cots, high chairs and strollers with this Cradle Toy and Surface Cleaner, made from honeysuckle plant that has a natural antibacterial effect.

❺

❺ WHITE Geo Exersaucer and Jumper.

AS nationwide school closures disrupt the education for more than 1.5 billion students worldwide, or 87 percent of total enrolled learners, Unicef has announced it will significantly scale up support in all countries to help children continue their learning while keeping schools safe.

“Schools in the majority of countries worldwide have closed. It is an unprecedented situation and unless we collectively act now to protect children’s education, societies and economies will feel the burden long after we’ve beaten Covid-19. In the most vulnerable communities, the impact will span generations,” said Robert Jenkins, Unicef global chief of education.

“Based on lessons learned with the school closures in response to Ebola, the longer children stay away from school, the less likely they are to ever return.

Giving children alternative ways to learn and also, by doing so, rebuild a routine is a critical part of our response,” said Jenkins.

To help curb the disruption to children’s education and keep children learning safely, Unicef has allocated additional funding to accelerate work with governments and partners in more than 145 low- and middle-income countries. The initial global allocation of $13 million—nearly $9 million of which is from a contribution made by the Global Partnership for Education—will be catalytic by supporting national governments and a wide range of education partners in each country to develop plans to enable a rapid, system-wide response.

The initiative will enable countries to prepare alternative learning programs in the case of school closures and help schools keep children and their communities safe by providing vital information on handwashing, and other hygiene practices.

The funds will also help support children’s mental health and prevent stigma and discrimination by encouraging students to avoid stereotypes when talking about the virus.

A10 Thursday, May 28, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Time to revisit Meralco smart meters program

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he House of Representatives’ Makabayan bloc recently filed a measure asking the House Committee on Energy to investigate in aid of legislation the sudden increase in Manila Electric Co. bills amid the Covid-19 pandemic. “Several media reports quoted electric consumers complaining about their Meralco bills that have tripled or, for some, even quadrupled, despite their present low consumption,” the proponents said.

The lawmakers must have filed House Resolution 879 in haste because they failed to include customers’ complaints in other parts of the country.

In Bolinao, Pangasinan, for example, one customer complained that her electric bill surged to P23,000 for the months of April and May when she usually only pays P6,000 per month. The Pangasinan I Electric Cooperative Inc., however, explained that the bill was an average, where the April billing was based on January to March 2020 consumption in accordance with the guidelines issued by the Energy Regulatory Commission (ERC) to all electric cooperatives in the country.

Camarines Sur residents also complained of high electricity bill charges. A consumer said he was charged more than P16,000, but the Camarines Sur Electric Cooperative III insisted there were no problems with the charges, which were based on the customer’s average November 2019 to February 2020 billings.

Up north, the Provincial Board asked the Cagayan 1 Electric Cooperative, Inc. to explain spiking electric bills during the quarantine period, which were also based on the January to March 2020 consumption in accordance with the ERC’s order.

The ERC guidelines allowed power utilities to bill customers based on average consumption from December to February because meter reading could not be done due to the enhanced community quarantine in Luzon. The ERC said the difference with actual consumption would be settled in future bills.

We can’t fault the ERC for coming out with such guidelines, which, we believe, were formulated with the best of intentions. The problem with billing customers based on average consumption in the past three months when all establishments were ordered shut, except for essential services, is the fact that a computer shop, for example, will get a billing based on average consumption notwithstanding the fact that the business was ordered closed by the government.

To redress the situation, the ERC issued new guidelines that ordered utility distributors to issue new electric bills based on actual meter reading. Meralco said on Monday it will issue another bill based on actual reading, which will cover the months of March, April and May. Consumers won’t need to pay the electric bills from March 1 to May 31 that they received, which was based on estimated average since physical reading was suspended during the lockdown, said Meralco Spokesman Joe Zaldarriaga.

He added: “If the public has questions regarding our meter reading or bills, they can always call the Meralco hotline 16211 or visit the company’s socialmedia accounts, for clarification. No need to succumb to fake news and emotional outbursts in social media that only serve to inflame the issue.”

Amid complaints of high electricity bills in May, is there a way the “bill shock” could have been avoided?

Victor Genuino, Meralco vice president and head of Customer Retail Services and Corporate Communications, said technology should have been the answer to the meter reading estimation and bill shock woes of Meralco, or any distribution utility. “If we have smart meters in place, we don’t need to estimate the consumption during the quarantine period and we no longer need to send meter readers out because we will be able to determine customers’ consumption via remote reading,” he said.

Meralco rolled out its smart meter program in 2015, starting with prepaid meters within its franchise area. The prepaid meter system allows customers to monitor their electricity consumption based on their budget. Meralco’s consumer research showed that customers who shifted from postpaid to prepaid are able to monitor their consumption daily via SMS and as a result, they can save an average of 20 percent on electricity consumption. In March 2017, Meralco asked the approval of the ERC to roll out more prepaid meters and to implement its Advanced Metering Infrastructure. Regulatory lag, however, has slowed down Meralco’s program to automate its massive power distribution network.

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Today is Flag Day James Jimenez

spox

T

oday is Flag Day, marking the moment in 1898, when the Philippine flag was first flown by the Philippine Revolutionary Army after trouncing Spanish forces in the Battle of Alapan. Imagine that for a moment, but know that the flag you’re imagining is probably not the one that was unfurled on that field of victory.

Let me explain.

The banner flown on that glorious day was the one Aguinaldo brought home from Hong Kong, hand-sewn by the Filipino expatriates there. It looked a lot like the flag you’re familiar with, but with one big difference: the sun on Aguinaldo’s flag had 32 rays—eight major ray clusters, composed of one major ray flanked by one smaller ray on each side, and one minor ray in between each of the eight ray clusters. In addition, Aguinaldo’s sun was anthropomorphic; it had a face on it. All the rest of the design should be fairly familiar: the white triangle, the three stars, the red and blue fields—except that there isn’t a great deal of agreement on what the actual shade of blue was.

This was the same flag that, on June 12, 1898, flew during the declaration of Philippine Independence, at Aguinaldo’s residence in Kawit, Cavite, while the March Nacional Filipina played, and which—together with various combatant flags—saw

action in the Philippine-American war. In 1907, five years after the end of the Philippine-American war, the Philippine Commission passed Act 1697—the Flag Law of 1907—outlawing the display of the Aguinaldodesigned flag.

For eleven long years, the American stars and stripes flew over the Philippines, until the Philippine Legislature repealed the Flag Law and reinstated the Philippine flag, following the same basic design of Aguinaldo’s flag, but without the facial features on the sun. This was the flag that flew over the country until 1936 when, with Executive Order 23, s. 1936, President Manuel L. Quezon instituted the description and specifications of the Filipino flag.

This design, used by the Philippines from 1936 to 1941 and which was practically identical to the flag we fly now, featured a new sun with only eight rays—which were actually ray clusters featuring one major ray flanked by one smaller ray

Life in the time of Covid John Mangun

OUTSIDE THE BOX

S

everal years from now when we are sitting around the cooking fire outside our cave preparing a dinner of boiled tree bark, we will tell our stories of the pandemic. Certainly that is not going to happen even with all the gloom-and-doom economic predictions, including my own.

But we will be celebrating the birthdays of “Covid babies” and grandchildren and will tell of our experiences.

I will say that my own experience has been eating more fruits than ever before since my next-door neighbor seems to have an unlimited supply of super sweet watermelon. And, of course, my long silky white beard.

However, these past two long months brought forth an abun-

dance of tales that prove that our Maker had a phenomenal sense of humor when creating humankind.

Also it is not our intelligence that separates us from the beasts of the field. It is our ability to do dumb things and to push the limits of being ridiculous.

Time Magazine’s 2019 “High School Dropout of the Year” has gone from saving the planet from global warming to trying to stay relevant by

The flag itself may have gone through many upheavals in its long evolution—from the heartbreak of war to the cosmetic disaster of 1985—but its symbolism has always remained constant. And today, Flag Day, let us take a moment to remember that day, 122 years ago, when we first rallied around a common symbol, each in his own way, standing against oppression and tyranny, in the name of freedom and self-determination. on each side—and again, no face.

Interestingly, these new specifications also explicitly declared that the blue on the flag would be a navy blue, just like the shade of blue on the American flag.

In 1942, the Second Philippine Republic was put up by the Japanese occupiers, with Jose P. Laurel serving as President. Laurel eventually issued EO 17, s.

1943, essentially bringing back the old Aguinaldo design of the Philippine flag, with its 32 rays and human face. From that time until the end of war in the Pacific, two Philippine flags existed: the Commonwealth flag flown by Quezon’s government-in-exile, and the Aguinaldo banner used by the Japanese-sponsored government.

When the Philippines was liberated from Japan and the Second Republic dissolved, the short-lived resurgence of the Aguinaldo flag ended as well. From that time until more than 40 years later, the

Commonwealth design of the Philippine flag flew over the country, unchanged.

In 1985, President Ferdinand E. Marcos enacted EO 1010, s. 1985, changing the shade of blue on the Philippine flag from navy blue to light blue. The jarring change was supposedly due to long-standing historical disagreements on what the shade of blue was used in the original flag. Some argued that it had to be Cuban blue because our flag design was inspired by the Cuban flag; others claimed that it should be sky-blue, citing contemporary accounts by revolutionaries.

In the end, one popular historian claims that a pale sky blue fabric was settled on simply because it was the shade more easily available.

After the Edsa revolution of 1986, President Corazon C. Aquino restored the Commonwealth design of the flag via EO 292, s. 1987. And then in 1988, Republic Act 8491— the Flag and Heraldic Code of the Philippines—again changed the flag’s blue field from navy blue to royal blue, apparently a compromise intended to put years of debates to rest.

The flag itself may have gone through many upheavals in its long evolution—from the heartbreak of war to the cosmetic disaster of 1985—but its symbolism has always remained constant. And today, Flag Day, let us take a moment to remember that day, 122 years ago, when we first rallied around a common symbol, each in his own way, standing against oppression and tyranny, in the name of freedom and selfdetermination.

claiming to be a victim of the other “environmental” disaster of Covid-19. “Global warming” was quickly replaced by “Toilet Paper Shortage” as a top concern in the West.

This has been a tough time in general for “environmentalists.” After literally years of a death-match battle with “big business” over things like plastic utensils, suddenly those items might be lifesavers. Maybe the first casualty of the Covid-19 was the “environmentally friendly” reusable grocery bag.

CBS News: “Massachusetts, where 130 cities had banned single-use plastic bags, last week reversed its position and instead banned reusable tote bags. San Francisco, which was one of the first US cities to ban plastic bags, this week banned reusable bags.” It gets worse. “The Centers for Disease Control and Prevention says disposable dishes, utensils, napkins, and tablecloths [and plastic drinking straws?] should be the default” as full-service restaurants reopen.

Normal life as we knew it has

changed. Legal brothels around the world have been closed to contain the spread of the virus. But this is not the end. Sex workers in Switzerland are naturally anxious to go back to work. Their industry organization, “ProKoRe,” has drawn up a set of strict guidelines on how to conduct their business post-pandemic.

These are not much different from other businesses. “Sex workers should wear a mouth and nose covering at all times.” But every industry has its own requirements.

“It also recommends that sex positions which allow for a safe distance between faces, such as ‘doggy style’ and ‘reverse cowgirl,’ are advisable.”

No comment is necessary.

Conspiracy theories are rampant.

“Eleven years before the joint construction of the Wuhan Institute of Virology, French intelligence services warned that China’s reputation for poor biosecurity could lead to a catastrophic leak.” Maybe not a conspiracy theory, but why did we not See “Mangun,” A11

Opinion BusinessMirror

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Thursday, May 28, 2020 A11

The space business is In the power of the Holy Spirit ‘Receive the Holy Spirit’ about to get really serious

By Michael R. Strain | Bloomberg Opinion

W

ednesday is looking like a watershed moment in history. The scheduled afternoon launch of a SpaceX Dragon capsule atop a Falcon 9 rocket from Cape Canaveral, Florida, at 4:33 p.m. would mark the first time a privately owned vehicle takes astronauts into orbit.

Elon Musk, the billionaire space entrepreneur and chief executive of Tesla Inc., founded SpaceX in 2002.

If the launch succeeds—bad weather could push it to Saturday—it would be the company’s crowning achievement to date. Musk’s hope is to enable the colonization of Mars. Delivering two astronauts to the International Space Station suggests that his grand ambition might be more than a pipe dream.

Even if not, it will be a breakthrough moment in the commercialization of space. All of a sudden, space tourism seems plausible. If SpaceX can fly astronauts from Florida to the orbiting laboratory, then why couldn’t it fly you and me—soon—to an orbiting restaurant to have dinner above the atmosphere?

For years, the US has been buying rides to space from Russia, spending $3.5 billion for 52 rides since 2011.

Instead of turning to Russia, NASA will now rely on private-sector spacecraft. For many Americans, this will be a needed boost of pride.

A half-century ago, the US sent Neil Armstrong and Buzz Aldrin to the moon, in part with the goal of beating the Soviet Union in the space race. At the height of the Cold War, competition with the USSR provided an organizing principle for US efforts in space, and a remarkable amount of government resources were brought to bear in the effort.

At its peak in the mid-1960s, $7 out of every $1,000 of national income was spent by the National Aeronautics and Space Administration.

Having beaten the Soviet Union, the US lacked a clear objective, and the space program drifted. In 2011, the space shuttle program was terminated. The SpaceX launch will mark a rebirth, the first time astronauts have flown to space from the US in nearly a decade.

In these wilderness years, the US gradually forged a new space exploration relationship between the government and the private sector. In 2004, two years after Musk founded SpaceX, a presidential commission concluded that business should play a larger role than it ever had.

“In NASA decisions, the preferred choice for operational activities must be competitively awarded contracts with private and nonprofit organizations,” the commission wrote.

It also defined a more limited role for the US space agency. “NASA’s role must be limited to only those areas where there is irrefutable demonstration that only government can perform the proposed activity,” it said.

With the reins for much space activity handed over to commercial interests, the past decade has seen an explosion of investment in a profusion of companies. In a 2018 paper, economist Matthew Weinzierl documented the rise of “space access” companies sending people and payloads into space, “remote sensing” companies providing images of the earth, “habitats and space station companies” providing secure facilities for tourism, research and manufacturing, and “beyond low-earth orbit” companies focusing on asteroid mining, space manufacturing and colonizing the moon and Mars.

Weinzierl listed several dozen companies, including SpaceX.

Mangun. . .

continued from A10

hear about this until now?

Chinese Internet users either by design or destiny are best at “unique” ideas. The South China Morning Post reports the “China [government] shuts down WeChat social-media account claiming ‘US making dead Covid bodies into hamburgers.’” No

This week’s launch with a crew will heighten commercial interest in space and strengthen market forces already at work. Information about consumer and industry preferences will need to be aggregated. Willingness to pay for space commerce needs to be determined. Resources and capital need to be allocated to their best uses. Innovation needs to be fostered. Only markets can build a commercial sector in space.

Weinzierl reported that investment in startup space-sector firms increased to roughly $2.5 billion per year in 2015 and 2016 from less than $500 million annually during the 2000s. Financing often comes from entrepreneurs like Musk, who are wealthy enough to absorb the high fixed costs needed to enter the space-commerce market.

This week’s launch with a crew will heighten commercial interest in space and strengthen market forces already at work. Information about consumer and industry preferences will need to be aggregated. Willingness to pay for space commerce needs to be determined. Resources and capital need to be allocated to their best uses. Innovation needs to be fostered. Only markets can build a commercial sector in space.

Investors and entrepreneurs will be needed. They will be seeking the enormous profits promised by space commerce, but will need to tolerate enormous risk, as well. If Musk succeeds today, the risk they face will go down a notch.

Indeed, competition is a back story to today’s success. In 2014, NASA awarded contracts both to SpaceX and Boeing. In December, a timing error on its debut flight forced the Boeing Starliner capsule to miss a rendezvous with the International Space Station.

Boeing will be scrambling to catch up, keeping the pressure on SpaceX. Blue Origin, founded in 2000 by the billionaire chief executive of Amazon.com Inc., Jeff Bezos, is another notable competitor, working to create reusable launch vehicles to lower the cost of space access.

Even as the private sector plays a larger role in space, there are glaring needs for governments to provide basic rules and structure. Public policy in outer space is in its infancy. For example, space debris in earth’s orbit could impose significant damage to private property. It needs to be dealt with, perhaps by assigning property rights or by taxing it. And with low-earth orbit in the hands of the private sector, NASA should feel intensifying pressure to achieve goals more plausibly beyond the reach of commerce, like landing on asteroids and colonizing Mars.

The sad backdrop to this historic achievement is the coronavirus pandemic that has taken hundreds of thousands of lives around the world and devastated economies in many countries, including the US. The end of the decade-long US retreat from space is like a shaft of light piercing that dark cloud. And when that cloud is a distant memory, SpaceX’s accomplishment will still be with us.

Commerce is bringing the US back to the stars. comment is necessary.

Maybe it is time to start the chapters of the book. “The strangest thing I bought online,” “What I wore most often” and “Who I missed seeing the least.”

E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

A

S the finale to our celebration of Easter, Pentecost 50 days after the resurrection of Jesus focuses on the outpouring of the Holy Spirit upon the apostles. The gospel account (John 20:19-23) powerfully summarizes the meaning of the coming of the Spirit upon us all, leading to the birth of the Church.

‘Peace be with you’ IN the evening of “that first day of the week,” that unforgettable day when Jesus rose from the dead, as the disciples were behind locked doors out of fear, Jesus suddenly came and stood in their midst. Although forewarned (John 14:1-27), His death had thrown them into confusion; Mary Magdalene’s report about the empty tomb was not enough to release them from the deep bend. Jesus alone could do that. His salutation of “Peace be with you” spelled it out, the message of messianic fulfillment itself: forgiveness and healing for humanity, reconciliation and communion with God. Jesus was delivering personally the promised and awaited salvation.

As the risen one accepted by the Father, Jesus could now show that the reason for the gloom of His followers is actually the basis for their new joy. The wounds in His hands and side make obvious the continuity from the crucified one to the living Lord now in their midst. His flesh bears the signs of His sacrifice of love that restored the broken covenant between God and humankind and made peace a reality. To recognize their Lord by the signs of His passion is to enter into the joy that faith brings, enabling them to overcome the “scandal” of the cross and to appreciate His death as the loving sacrifice of the Son to His Father.

Reunited with the Father in glory and given all the power in heaven and on earth, Jesus can now share the Spirit with those who believe in him (7:39). He breathed on them and said, “Receive the Holy Spirit.” God’s breath gave life to man (Genesis 2:7); now the breath of the one through whom “all things were made” (John 1:3) enlivened his disciples into new creatures, regenerated in a paschal world where the Spirit of God has returned and where anyone who receives the Word of the Lord is reconciled with God. This Word is “spirit and life” (6:63).

Jesus was identified by John the Baptizer as “the Lamb of God, who takes away the sin of the world” (1:29). He went about preaching conversion and the forgiveness of sins, claiming to Himself the divine power to actually forgive sin as He absolved the woman caught in adultery (8:11). In giving the Holy Spirit to His disciples Jesus is conferring on them His full power. As He promised, when He returns to the Father they will do what He does and more (14:12), because in their ministry of reconciliation the word of forgiveness is to be offered to everyone.

Alálaong bagá, receiving the Holy

Spirit means mission. For the Spirit is the power of God creating and recreating humankind, healing and reconciling the world to Him. That is why the Church, the katipunan (assembly) of Christ’s followers reborn and reshaped by the Spirit, is a community of forgiven sinners now commissioned to extend forgiveness to others and to announce to all peoples the gospel of reconciliation. In the multiplicity of gifts and charisms from the Holy Spirit in the Church, everyone is called to be somehow an instrument of the peace the risen Lord has brought definitively to the world.

The risen Lord is now in our midst in the efficacious signs of His presence and continuing action in the ministry and liturgy of the Church, most especially in the Eucharist. We participate in his peace and covenant with God even as we are told to give each other the sign of peace. In the power of the Holy Spirit, the bread and wine become his body and blood for the life of the Church, in the same power his disciples themselves today are transformed to be peace-makers and ambassadors of reconciliation to the world (2 Corinthians 5:20).

Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

Global de-industrialization vs national re-industrialization Dr. Rene E. Ofreneo

LABOREM EXERCENS

W

ith the Covid-19 pandemic, global de-industrialization is now happening.

The virus has flattened the demand for a galaxy of industrial products being produced and traded worldwide. Estimates on the collapsing global market demand vary. But a good indicator of the sharp decline in the demand is the paralysis that has hit the aviation, shipping and the logistics industries that bring goods from factories around the world to supermarkets everywhere. Another supreme indicator is the failure of Opec to stop the steep fall of oil prices to zero or near zero or, in some cases, even below zero.

Industrial protectionism is also back. Emblematic of this is the recent decision by Roberto Azevedo, Director General of the World Trade Organization, to resign one year before the end of his second term. He is a frustrated man. The WTO has failed to forge a global agreement on the so-called Doha Development Agenda after two decades of negotiations (2000-2020).

Instead of helping the WTO cement a multi-lateral trading arrangement, President Donald J. Trump has been subverting the WTO operations by continuously blocking the appointment of judges in the WTO’s appellate body for dispute settlement.

Of course, there are other indications of the growing irrelevance of the WTO. A number of countries have been violating routinely some of the WTO rules such as the imposition of tariff and non-tariff barriers in crisis periods in order to protect their priority home industries. As Justin Yifu Lin, former Chief Economist of the World Bank, puts it, all the developed countries subscribe, openly or silently, to the ideology of Industrial Policy, which is translated into a program of nurturing and protecting national industries deemed critical to a country’s development (or in the words of the American policy-makers in 2008-2010 global financial crisis, “too big to fail”).

A victim of global industrial flattening is Factory Asia. More and more jobs associated or linked to Factory Asia through a byzantine system of global value chains (GVCs) are being downsized. Of course, the US-China trade war, which had rattled Factory Asia in the last three years, has become even more virulent with the onset of the Covid-19 pandemic. Trump has openly asked American outsourcers to bring back industries and jobs in America, and has threatened with sanctions those who refuse to abide with this policy. Trump’s protectionism is mimicked by other countries such as India, which dropped out of

the so-called Regional Comprehensive Economic Partnership Agreement (RCEP), supposedly the world’s largest free trade agreement, because India, said Prime Minister Narendra Modi, cannot afford to sacrifice the interests of its farmers and industrial producers.

Job losses under a faltering GVCFactory Asia are likely to multiply as more and more industrial producers are likely to intensify the application of robotics, artificial intelligence and other job-saving devices. Even in the service industries such as retailing, the Fourth Industrial Revolution is being felt or seen, for example, in the employment of robot cashiers, robot waiters, robot cleaners, robot guards, and so on.

So, given the above de-industrialization reality in Covid times, what happens then to the efforts of those seeking to revive Philippine industrialization? Remember the country was second only to Japan in Asia in the industrialization process in the 1960s, per World Bank assessment.

But somehow, the country’s industrialization was upended by the questionable neoliberal policies imposed by the Iternational Monetary Fund-World Bank in the 1970s, 1980s, 1990s and 2000s. And yet, the Philippines has managed to post high gross domestic product growth since 2000, due mainly to the two legs of the economy—remittances by a growing army of overseas Filipino workers (OFW) and earnings

by IT-ICT-savvy call center-BPO workers and executives. With the Covid-19 pandemic, these two legs are crumbling and no longer reliable.

So, is there hope for the revival of Philippine manufacturing?

The answer is surprisingly yes. In the government’s Bayanihan program, there are proposals to develop the capacity of the Philippines to produce the needed testing materials, PPEs, masks, ventilators and other health paraphernalia. The UP Genome Center has demonstrated the world-class

talents of its scientists by producing Filipino testing materials for the virus.

The Department of Trade and Industry (DTI) also affirmed the readiness of local producers to manufacture and assemble various health materials. In South Korea, its success in containing the spread of the virus lies in its ability to produce rapidly and massively the needed testing materials, masks, and other supporting health instruments.

It seems that one problem of the Philippines in the local production of health paraphernalia is the attitude of some Department of Health officers, who are so focused on the importation, not domestic production or fabrication, of these materials. Even the good efforts of Marikina Mayor Marcelino Teodoro to build a testing facility was subjected by the DOH to time-consuming bureaucratic inspections instead of facilitating a productive DOH-LGU partnership to make the testing facility work for the public as quickly as possible.

The DTI’s perspective, once so focused on an imaginary limitless global market, is also reported to be being tweaked toward the domestic market.

A population of 110 million is a huge market. It is a good base to launch/ build/rebuild old and new industries.

Look how China, India and Indonesia are all growing based on the strength of their large domestic markets.

In relation to the foregoing, the DTI has revived an old program—Buy Philippine Made, which is paired with the program targeting the youth and professionals to go entrepreneurial and digital.

Going domestic by producing locally and buying locally should be fully supported not only because this policy had been neglected/denigrated in the past (with the old export-or-perish thesis) but also because this is the only way we can reduce the yawning trade deficits given the crisis in the export market. In the past, Philippine trade deficits had been offset by the country’s receipts from OFW remittances and call center/BPO earnings.

With these two legs crumbling, the uncorrected trade deficits can lead to horrendous economic collapse of the country similar to what happened in 1983-1986.

The challenge to DTI, however, is how to transform its go-domestic policy into a program of rapid and broad industrialization. The Covid-19 pandemic provides the justification to go domestic and develop local industries that can churn out a whole range of products needed by the people to survive and for the economy to grow.

There are some low-lying fruits that can be harvested aside from the health and food-processing industries.

On the heavy industry category, we have the integrated steel complex of Iligan. The National Steel was in the black in the 1980s and 1990s (until it

went under when it was privatized).

This steel firm can be rehabilitated, for after all, the market is there—the “Build, Build, Build” program of the government, which requires so much tons of steel for the roads, railways, subways, ports, airports and other BBB infra projects being built. As it is, the country has become a major importer of steel and cement, both of which can be produced fully at home.

Another easy target should be the ship-building industry. The flattened or bankrupt Hanjin ship building can be revived and transformed into a naval-commercial ship-building complex, per studies by no less than the Philippine Navy and the UP Center for Integrative Development Studies.

The ship-building industry can be supplemented by programs promoting small-boat-building industry to fill in demands for faster and efficient interisland trade/transport facilities.

At the mid-stream and downstream levels, the Philippines should have no problem. In the 1950s-1970s, it is in these areas where the country excelled. Building industries at these levels should be aided by the mobilization of the talents of Filipino engineers and production technicians who have been managing the industrial, petroleum and other similar facilities of other countries. What the DTI can do is list the country’s top imports and identify which among these products can be produced at home, with initial assistance from the government. The DOST can be a partner of DTI in this undertaking.

Of course, going domestic does not mean giving up the export market. Yes, those excelling in the export market deserve continuing support. The government, through long decades of export-oriented industrial policy promotion, has been doing this through the five decades of export-oriented industrial (EOI) policy.

But why is Neda proposing a tax law called CREATE, for the purpose of attracting new FDIs through the lowering of corporate tax on FDIs? Is this urgent and necessary? Are the PEZA-based FDIs not already receiving generous fiscal incentives? If the idea is to promote FDIs engaged in domestic business, will this lead to rapid industrialization or unproductive investment speculation? And assuming that such incentives do attract FDIs, is it not true that jobs that can be created by such investments are likely to see light only two or three years from now because FDI investments today do not translate immediately into productive undertakings tomorrow? Hence, the question: how urgent and necessary is CREATE? Why not focus on putting all government hands on deck in support of rapid industrialization led by forwardlooking industrialists, scientists and professionals?

A12 Thursday, May 28, 2020

ILO: Pandemic to rob youth of good future

By Samuel P. Medenilla

T

@sam_medenilla

HE Inter nationa l Labour Organization (ILO) warned on Wednesday the legacy of the novel coronavirus disease (Covid-19) pandemic could last for decades as it robs young people of their education, training and work opportunities.

In a statement, ILO said people in the 15 to 24 age group are now suffering from the threefold “shock” as the crisis stifles global economic growth.

“Not only is it destroying their employment, but it is also disrupting education and training, and placing major obstacles in the way of those seeking to enter the labor market or to move between jobs,” ILO Director-General Guy Ryder, said.

I L O ea rl ier est i m ated around 305 million workers will lose their jobs in the second quarter of 2020 because of the business disruptions caused by Covid-19.

The trend could lead to the increase in the numbers of young people not in employment, education, or training (NEET) worldwide, which was already pegged at

267 million as of last year.

NEET youth tend to end up in low-paid occupations, informal sector work, or as migrant workers.

In the fourth edition of the ILO Monitor: Covid-19 and the World of Work Report, the labor arm of the United Nations, said young workers, particularly women, were the most affected by the new pandemic.

Ryder urged governments to initiate “broad-based employment/training guarantee programs” in developed countries to counter the said trend.

As for low- and middle-income economies, he said they could implement employmentintensive programs and guarantees to minimize the impact of the Covid-19 to their young people.

“If we do not take significant and immediate action to improve their situation, the legacy of the virus could be with us for decades, “ Ryder said.

“If their talent and energy is sidelined by a lack of opportunity or skills, it will damage all our futures and make it much more difficult to rebuild a better, post-Covid economy,” he added.

SOUTHWESTERLY WINDFLOW AFFECTING NORTHERN LUZON EASTERLIES AFFECTING PALAWAN, VISAYAS AND MINDANAO as of 4:00 am - May 27, 2020

PITC 300K MT rice importation legality questioned

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By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Federation of Free Farmers (FFF) on Wednesday questioned the legality of the Philippine International Trading Corp.’s (PITC) purchase of 300,000 metric tons (MT) of imported rice, saying there is no declaration of a rice shortage, a condition required under the law for government importation.

In a statement, FFF said the PITC’s planned government-togovernment (G2G) rice importation could be ”irregular” as the government has not yet declared a shortage of the staple.

FFF cited Rule 6.4 of the implementing rules and regulations (IRR) of the rice trade liberalization (RTL) law which stated that the government could import rice through the PITC only ”in the event of a rice supply shortage.” Furthermore, FFF said President Duterte has not officially declared or issued a directive to the Department of Trade and Industry

and the PITC to undertake a G2G rice importation.

FFF said the government’s Interagency Task Force Resolution 17 issued on March 30 ”merely endorsed to the Office of the President” the proposal to import rice via PITC as a ”contingency measure.”

The rule states that upon the instruction of the President, the DTI-PITC should ”expeditiously participate in the rice industry thru contracts with private traders that would purchase the needed rice supplies from domestic and foreign sources to enhance market competition and stabilize rice prices” in the event of a rice supply shortage.

IRR rule 6.4 elaborated the powers of the President as stipulated under Section 7 of the Republic Act 11203, or the RTL law, during a projected rice shortage in the domestic market.

The RTL law defines a rice shortage as a ”situation where the quantity available or the supply of the commodity in a market falls short of the quantity demanded or required at a given time.” ”Department of Agriculture [DA] Secretary William Dar has repeatedly maintained that there is enough rice,” said FFF National Manager Raul Q. Montemayor. ”If, as Secretary Dar implies, there is no rice shortage, then there is no legal basis for PITC to import rice

under the RTL,” Montemayor added.

The DA maintained that the 300,000-MT G2G rice importation being undertaken by the PITC is a ”contingency” effort to ensure that the country has sufficient staple stocks when it enters the lean season of July to September.

FFF warned that disbursements made by the PITC for the importation could be disallowed by the Commission on Audit and its officials could be charged with graft if no proper legal basis for the G2G transaction is established.

FFF added that the the G2G importation could result in ”significant losses” for the PITC and the government and at the expense of rice farmers.

The group explained that PITC’s imports would have a landed cost of P25 per kilogram and if these are sold at the same retail price as NFA’s P25 per kg, then the attached agency of the DTI would incur losses of at least P5 per kilo or P1.5 billion. The losses include financing, storage, distribution and related costs, it added. ”Since PITC imports will presumably be exempted from tariffs, government will additionally forego P2.6 billion in tariff collections. In turn, farmers who are supposed to benefit from tariff collections on imports through the Rice Competitiveness Enhancement Fund will be shortchanged by P2.6 billion,” said Montemayor.

FFF said the P7.45-billion budget for PITC’s importation is even larger than the P7-billion palay procurement fund of the NFA. Under the PITC’s terms of reference, half of the 300,000-MT 25 percent brokens of imported rice must arrive not later than June 22 while the remaining volume must be delivered by suppliers not later than July 22.

The PITC has divided the import volume into four lots with corresponding port of discharges: Manila, Cebu, Tacloban, Zamboanga and Davao.

‘CREATE to produce 1.1M jobs in 5 years’

T

HE “recalibrated” tax reform package now known as Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) is seen to produce at least 1.1 million jobs over five years and trigger a V-shaped recovery for the country’s economy next year.

According to House Ways and Means Committee Chairman Albay Rep. Joey Salceda, the number of jobs to be produced as a result of the passage of the CREATE bill—formerly known as Corporate Income Tax and Incentives Rationalization Act (Citira)—will be equivalent to half of the lower end of his estimates that 2.2 million to 4.4 people will be unemployed this year amid the Covid-19 pandemic.

“I think a good strategic objective would be recover at least 50 percent of that this year; let’s recover at least 50 percent. That would go for something like 1.1 to 2.2 million jobs,” Salceda told finance reporters in a virtual press conference on Tuesday.

The economist-lawmaker also sees the CREATE bill contributing an additional 1.2 percent per year in the country’s GDP growth.

He also expressed optimism that the country can hit 8-percent growth next year given the base effect.

The Cabinet-level Development Budget Coordination Committee is projecting the country’s economy to grow by 7.1 percent to 8.1 percent by 2021. For this year, the DBCC expects the economy to contract by 2 percent to 3.4 percent in what could be the worst GDP growth rate of the country since the 6.9-percent GDP contraction in 1985.

“I think we need CREATE in order to trigger a V-shaped recovery next year,” he added.

With just a few session days left before Congress adjourns sine die, both Senate Ways and Means Committee Chairman Pia Cayetano and Salceda said their colleagues have also expressed support to the bill.

Continued on A2

Govt wooing 135 China-based foreign firms to relocate to PHL

By Elijah Felice E. Rosales

T

@alyasjah

HE government is persuading at least 135 foreign manufacturers in China to relocate here as part of an industry strategy to present the Philippines as a complementary site to the Asian superpower.

According to the Board of Investments (BOI), the trajectory for the Philippines now is to become a complementary host country to China in terms of hosting foreign firms. This is the strategy that the government is implementing in light of moves from multinationals to move out of China after its weaknesses were exposed by the coronavirus pandemic.

The BOI is working to get 135 target companies—most of them affected by the pandemic and the trade conflict between the United States and China—to relocate to the Philippines.

Of this figure, 64 are Chinabased firms producing medical devices, optical lenses, appliances, bicycles and furniture, that were hit by the tariff race. Further, 55 are manufacturing firms that are be-

ing eyed for their capacity to make products crucial in the fight against Covid-19.

The remaining 16 are firms based in Wuhan, the origin of the virus, looking to move out of the city and China in general.

However, the BOI admitted it will be difficult to get these firms out of China in the immediate term.

The ongoing crisis put on hold many business decision, it explained, and the smoke has to clear first before firms explore the option of relocation and expansion.

In spite of China’s exposed weaknesses, it is still hard to leave the country for its capacity and capability to produce requirements and inputs, as well as for its vast supply chains and availability of raw materials, the BOI said.

Competition

THERE’S also a rising competition between Asian nations in capturing fleeing firms. Likewise, firms are being encouraged to return to their home country to support domestic demand and supply, and some governments are willing to pay for this relocation. “[The strategy is to] position the

Philippines as a complementary host country—and not to steal investments of companies in China— in the manufacturing industry, specifically those that are looking at diversifying their business locations to sustain and enhance competitiveness,” the BOI said.

Such promotion is expected to shore up the country’s investment figures that are declining steeply due to the pandemic’s ill effects on the economy. The BOI, for one, suffered an over 70-percent drop in capital inflows from January to April, as local and foreign firms held on to their cash on uncertainties brought about by the health crisis.

Investments applied to the BOI for the period plunged 70.66 percent to P84.1 billion, from P286.7 billion during the same stretch in 2019.

Declines were recorded in inflows from sources both here and overseas, underlining the depth of the pandemic’s impact on business plans. BOI data showed that investments from local firms fell roughly 68 percent to P70.7 billion from P219.7 billion, while those from foreigners crashed by about 80 percent to P13.4 billion, from P66.9 billion.

www.businessmirror.com.ph

Companies BusinessMirror

Thursday, May 28, 2020

B1

Store expansion boosts Puregold income

P

By VG Cabuag

@villygc

uregold Price Club Inc., the grocery chain operator led by businessman Lucio Co, said its income in 2019 grew 9 percent to P6.77 billion, from the previous year's P6.2 billion on the continued expansion of its stores mostly in Luzon.

Consolidated net sales went up by 9 percent to P154.49 billion in 2019 from P141.14 billion in the previous year, the company said.

Around 77 percent of the revenues is attributed to the Puregold Stores

network and 23 percent came from S&R Membership warehouse clubs and S&R New York Style Pizza stores.

Income from operations expanded by 11 percent to P11.38 billion in 2019, compared to the P10.23 billion

recorded in 2018.

The number of its stores, which included the quick-service restaurant S&R pizza, reached 436 at the end of 2019, from 408 in 2018 and 372 in 2017. It ended 2019 with a total net selling area of around 565,000 square meters.

Puregold stores registered stronger than expected same-store sales growth (SSSG) of 4.6 percent in 2019 while that of S&R reached 8.3 percent, the company said.

“Our 2019 SSSG was driven by higher consumer spending fueled both by minimum-wage inflation in

PHL sees decline in 4G video quality

By Lorenz S. Marasigan @lorenzmarasigan

F

ilipinos experienced a declining 4G video experience in March with rural areas affected the most, reflecting a global trend that the coronavirus disease 2019 pandemic created, data from research agency Opensignal showed.

According to the report, urban areas in the Philippines saw a 7.2-percent decline in 4G video experience in March, while rural areas had it worse at a downward trajectory of 14.7 percent. Opensignal says this still reflects “resiliency” in the telco networks.

"Despite these declines, the typical 4G video experience in the Philippines ranges from fair to good, which suggests that the mobile operators have been able to cope well during these extraordinary times,” the report read.

The government imposed lockdowns in almost all regions in the Philippines due to the Covid-19 global outbreak.

Opensignal said this downturn was caused by two factors—ocation and affordability.

“Thousands of Filipinos working in cities moved out to their second residences or hometowns in the suburbs or rural areas to avoid being quarantined in the city. This

means that users are spending more time in locations where the network infrastructure does not normally support such large numbers of users and this new traffic pattern,” it explained.

Likewise, mobile operators provided extra data credits to subscribers to help them cope with the pandemic. This means that Filipinos have the ability to consume more data.

“Consumers are now able to consume more data than usual without the usual restrictions. Additionally, with shifts in users' behavior during the quarantine, network experience generally starts falling during the non-peak hours, bringing down

overall experience,” the report read.

Telco operators reported an average of a 20-percent increase in mobile data traffic at the onset of the pandemic.

Opensignal added that with greater usage comes increased mobile network congestion.

“As we’ve already seen, mobile video consumption in the Philippines is growing exponentially, which means that a good video experience is becoming increasingly important to Filipino consumers, hence any operator that provides greater video experience definitely has an edge, and at present Smart clearly holds that advantage,” the report read.

LTFRB taps RCBC mobile ATM disbursements breach ₧2B PayMaya for fare payments

T

he Land Transportation Franchising and Regulatory Board (LTFRB) has tapped financial technology (fintech) player PayMaya to provide “additional livelihood opportunities” as well as contactless payment options to drivers.

Due to physical distancing protocols, public utility vehicles are required to accept cashless payments for fares. PayMaya is offering taxi drivers and other operators QR scan-to-pay capabilities.

Aside from this, drivers and transport operators may also receive contactless payments through credit, debit, and prepaid cards via tap-to-pay technology through the other digital payment solutions of PayMaya.

Operators may also tap PayMaya’s PayOut disbursement solution to easily distribute salaries and other incentives through their drivers’ PayMaya accounts.

PayMaya Founder Orlando B. Vea added that his group will also provide drivers “with additional livelihood options—such as offering airtime load purchases, bills payment, and even remittances if they also operate a sari-sari store or any physical store—through other upcoming products and services.”

“In the ‘new normal,’ we must help everyone adapt to new and safer ways to lead our lives, and that includes the transportation industry. PayMaya is proud to support the government and transport operators not just in helping them accept contactless payments, but to chart the path towards their full recovery as well.”

For his part, LTFRB Chairman Martin B. Delgra III said cashless transactions in the transport sector will be part of the “new normal.”

“We are glad that our drivers and operators have easy and convenient options such as PayMaya, so that they can quickly implement this solution for the safety and benefit of their riders,” said Delgra. Lorenz S. Marasigan

Y

uc hengco -l ed R i z a l Commercial Banking Corp.

(RCBC) saw its digital disbursements in the provinces via handheld automated teller machine (ATM) service reach P2 billion in just five months.

The listed bank said it took only half the time this year to breach the transaction value level. Last year, RCBC surpassed the P2-billion mark in 10 months.

The Yuchengco-led bank attributed this to higher usage rate following the enforcement of community quarantine in Luzon mid-March.

“Beyond these numbers are the underserved Filipinos, who are rightfully and finally receiving lifechanging financial services at the comfort and safety of their own communities,” said Angelito M. Villanueva, executive vice president and chief innovation and inclusion officer of RCBC. “Indigent members of our society contribute bulk of the transactions coursed through the ATM Go service, due largely to our productive collaboration with the national government,” he added.

ATM Go is a platform that allows BancNet cardholders to make basic banking transactions like withdrawals, inquiry and fund transfers through any partner rural bank, drug stores, microfinance firms and even sari-sari stores.

RCBC said 60 ATM Go terminals were provided to new and existing payout partners in April and May. These are the New Rural Bank of San Leonardo, Cantilan Bank, Baug CARP Beneficiaries Multi-Purpose Cooperative, Kooperatiba ng Sampaloc, Bayad Center branches, and other small, and medium enterprises.

Up to 90 more of the mobile ATM platform is expected to be given to onboarding partners by June.

The mobile ATM has been endorsed by the government to facilitate conditional cash transfer pro-

2018 and easing inflation in 2019,” the company said.

“The company plans to offer online grocery shopping to 100 Puregold stores from the current 40 stores in our Puregold Mobile App by the end of 2020 as we expect changes in consumer shopping behavior due

to the Covid-19 [coronavirus disease 2019] situation.”

Puregold also said it will continue its expansion program by opening 25 new Puregold stores. It has opened two S&R membership shopping warehouse in 2020. “This will provide our shoppers better convenience especially now that travel is limited due to quarantine.”

The company said it will spend some P3.4 billion in capital expenditures (capex) this year, down by a third from last year’s budget of P5.2 billion.

Of this year’s capex, some P1 billion was set aside for the construction of the 25 new Puregold stores, P1.6 billion for two S&R stores, P200 million for 10 S&R pizza stores and P600 million as maintenance capex.

Metrobank shelves plan to create new share class

By Tyrone Jasper C. Piad @TyronePiad

M

etropolitan Bank & Trust Co. (Metrobank) is withdrawing its plans to create a new class of shares, adding that such agenda should be discussed “under normal times.”

“The Board believes that it is not the appropriate time to present the matter to the Shareholders, and has decided to remove it from the Agenda for the Annual Shareholders’ Meeting,” the listed bank said in a disclosure on Wednesday.

Stockholders’ meeting is set on May 28. “Such an important matter as amending the Articles of Incorporation should be done under normal times when proper discussion can be done regarding the merits,” it added.

The listed bank earlier said it was proposing to convert P1.2 billion of its current P20-billion nonvoting preferred shares into 6 billion preferred shares with voting rights for 20 centavos apiece. The remaining P18.8 billion—representing 940 million shares

with P20 par value apiece—will still be non-voting preferred shares.

There would be no change in its total authorized capital of P140 billion even after the proposed transaction.

Metrobank said this will give the bank “flexibility for foreign ownership and proactively manage its capital position.” In the first quarter, Metrobank saw its net profits decline by 9 percent to P6.12 billion, from P6.75 billion due to higher loan loss reserves. The provisions for credit loss more than doubled to P5 billion in the first three months of the year.

As of end-March, the bank's nonperforming loans (NPL) ratio was stable at 1.4 percent while NPL coverage stood at 114 percent.

It currently has a total equity of P305 billion, with capital adequacy ratio at 17.6 percent—well above the 10-percent minimum regulatory requirement.

Metrobank shares rose 60 centavos, or 1.81 percent, to close at P33.80 apiece amid the 0.49-percent hike for the benchmark index.

PhilCare upbeat on business prospects despite pandemic

By Roderick L. Abad @rodrik_28 Contributor

P

gram amid the pandemic. In April, RCBC was given the authority by the Monetary Board to accept government funds and assist in cash distribution under the social amelioration program.

Most of the transactions coursed through ATM Go were in Metro Manila, Northern Samar, Negros Occidental, Masbate and Marinduque, RCBC said.

The Yuchengco-led bank saw its net income grow by 77 percent to P2.3 billion while gross revenues rose by 23 percent to P10 billion in the first three months. Topline

figures were driven by net interest income and non-interest earnings, which increased by 19 percent and 29 percent, respectively.

RCBC listed its P7.05-billion fixed rate bonds on the Philippine Dealing and Exchange Corp. in April. Proceeds of the issuance were set aside for finance asset growth, maturing obligations and other general corporate matters.

RCBC shares climbed by P1.44, or 9.9 percent, to close at P15.98 each amid the 0.49-percent uptick for the main index on Wednesday.

Tyrone Jasper C. Piad

h i l h e a lt h car e I n c .

(PhilCare) is unfazed by the coronavirus disease 2019 (Covid-19) pandemic, as it bared on Wednesday that it is bullish on business prospects this year.

“We expect PhilCare to do well, not from Covid-19, but from the heightened need of Filipinos to take care of their health,” PhilCare President and CEO Jaeger L. Tanco told the BusinessMirror right after the company’s virtual media briefing.

“For the first time in our generation, health is now at the forefront of conversations. Our study confirms this.”

Tanco said the results of Philc a re Commu n it y Qu a ra nt ine Wellness Index indicated that 81.4 percent of respondents are "very worried" about the health of their loved ones.

Since the spread of Covid-19 late last year, prepaid plans have become one of the “easiest and most accessible” offerings that PhilCare members could avail of.

“We saw about a 50-percent increase in the number of inquiries over the ECQ [enhanced community quarantine],” said Raymond Tiangco, vice president for sales and marketing at PhilCare.

The health maintenance organization (HMO) has blazed a trail in the use of prepaid healthcards

in the market.

“For that aspect in our business, we expect it to go up,” Tanco said of the projected increase in the sales of “sachet-type” of products.

As an HMO’s revenues come from membership fees, he said the company expects a reduction in its top line due to the projected increase in the number of their clients who will have to let go of their employees.

“As far as ballpark figures [are concerned], it is still too early to say by how much since we are all adapting our companies and workforces to the new normal,” he said.

PhilCare reported that its revenues grew by 15.8 percent to P2.68 billion in 2019, from P2.31 billion in 2018.

Currently, the firm is taking on new innovations by leveraging on technology that improves the delivery of quality healthcare to the public.

DigiMed service, for instance, is a kind of medical teleconsult that will make a more pronounced impact as the country now embraces the new normal amid the Covid-19 crisis.

This offering on the HeyPhil application has so far received around 1,500 digital consultations a month.

The company has also recently launched DigiMed PLUS, a webbased telemedicine app that allows members access to numerous specialists via video call.

B2

Companies BusinessMirror

Thursday, May 28, 2020

Emperador recurring net income up by 5% last year

By VG Cabuag

E

@villygc

mperador Inc., the liquor arm of businessman Andrew Tan, said its recurring net income went up by 5 percent year-on-year to P7 billion for the entire 2019.

The company had revenues of P51.6 billion last year, up by about 10 percent from P46.34 billion recorded in 2018. It is known for its cheap brandy sold locally as well as the

globally popular brands it bought, such as Fundador Brandy and Whyte & Mackay Scotch whisky.

The company did not disclose its net income figures.

“Last year’s stellar performance is a continued testament to our premiumization and globalization strategy for our renowned brandy and whisky products ranging from mainstream to luxury sold in over 100 countries,” said Emperador President Winston Co. The company said 2019 was a good year for the Scotch whisky segment with the business growing in every major region of the world. Asia remained a strong driver of growth supported by great results across Europe and North America, it said.

Its brandy business, the company said, also had a good year with 27 awards led by Fundador, which con-

tinued to expand last year around the world especially in the United Kingdom and Asia.

“Emperador brandy remained at the helm of local liquor across the country particularly in key Metro cities, while we strategically engaged in product innovations in response to the ever-changing consumer taste and preference,” said Co. The company recently announced the extension of its share buyback that began in May 2017 for another 12 months ending on May 16, 2021.

To date, some 322 million shares have been bought back, amounting to around P2.2 billion, the company said.

ADB bats for ‘innovative’ tax policies

By Cai U. Ordinario @caiordinario

T

he roll out of flexible and innovative tax policies will allow governments in Asia to raise much-needed revenues to help stabilize their economies while the region grapples with the coronavirus disease 2019 (Covid-19) pandemic.

The Asian Development Bank (ADB) noted that many countries are now adopting changes in anticipation of the projected decline in economic growth and income, particularly of small and medium enterprises (SMEs).

Some of these tax policies include the deferment, lowering, or waiving taxes.

However, the ADB said governments must follow the “Three T’s” principle—timely, targeted, and temporary—in implementing the policies.

“These policies should be combined with other financing/liquidity measures to stabilize the economy, in particular targeting small and medium-sized enterprises,” ADB taxation specialist Yasushi Suzuki said in

an Asian Development Blog published on Wednesday.

Suzuki said tax policies at this time must be formulated to help businesses and other taxpayers. This means taking a wholistic approach to rolling out tax relief measures.

These measures, he said, would be more effective when implemented with “specific legal and regulatory operational framework, as well as the existing tax policies and incentives.”

Suzuki said governments must become “more flexible” when it comes to tax administration. Flexibility is required in the use of staff to manage service demand and stopping, where necessary, discretionary programs like field audits.

He said there is a need to ease the business cash-flow situation of taxpayers by introducing tax debt payment plans in installments and prioritizing value-added tax refunds to ensure quick payout.

The ADB specialist also urged government to facilitate and ease tax filing procedures.

These strategies can help prevent non-

compliance, especially among SMEs, which have been significantly affected by the pandemic. Any stringent tax policies, he said, could unwittingly expand the informal sector or increase tax fraud.

“Tax agencies should be on the alert for these emergent risks. There may be tradeoffs between the service demands and tax compliance, however, tax administrators should strike the right balance,” said Suzuki.

Suzuki added that governments must start considering possible tax reforms that may be implemented after the pandemic.

These reforms must broaden tax base as

mutual funds

well as allow the conduct of a review of incentives.

These changes must be accompanied by reforms on taxes paid by digital companies.

Suzuki said these must be revisited under the new international tax standards on digital transactions of the Group of 20 initiative.

“Digital transformation is part of the drive to innovate to increase productivity growth. Middle-income economies in the region have observed the benefits of investment in research and development that is three times bigger than others in the region,” he said.

May 27, 2020

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

May 27, 2020

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

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

47 87 63 18.9 6.25 33.6 9 17.1 19.62 15 78.1 53.6 0.72 15.5 2.32 0.93 0.28 0.6 165

48 87.35 63.05 18.92 6.38 33.8 9.8 18.48 19.68 15.98 78.2 53.7 0.8 15.7 2.54 0.98 0.3 0.64 169

48 86.1 62.45 19 6.38 33.5 9.89 18.86 19.7 14.82 77.95 54.6 0.69 16 2.4 0.89 0.28 0.63 165

48 87.5 63 19 6.38 33.8 9.89 18.86 19.7 15.98 78.5 54.6 0.8 16 2.4 0.89 0.28 0.64 170

48 86.1 60.6 18.88 6.2 33.2 9.8 18.86 19.5 14.8 77.2 53.7 0.69 15.5 2.32 0.89 0.28 0.6 165

48 87 63 18.9 6.25 33.8 9.8 18.86 19.62 15.98 78.1 53.7 0.8 15.7 2.32 0.89 0.28 0.64 170

6000 3542970 1509070 298300 836900 2981800 200 200 92100 14800 2172940 760 218000 2200 29000 40000 300000 93000 220

288000 307998406 93639587.5 5,639,474( 5243111 99889100 1969 3772 1799416 221350 169116170.5 41158.5 167540 34370 67760 35600 84000 58000 36497

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE AXELUM CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE LIBERTY FLOUR MAXS GROUP PEPSI COLA SHAKEYS PIZZA ROXAS AND CO ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA EUROMED LMG CHEMICALS MABUHAY VINYL PRYCE CORP GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

2.14 0.87 26.3 0.16 20.25 54.7 274 11.48 2.92 10.92 16.7 7.6 12.52 7.01 2.58 15.08 4.21 4.5 7.68 61.75 0.55 1.2 29.8 121.9 40 5.43 1.9 5.55 1.76 1.38 0.103 121.1 0.79 2.21 49.05 1.04 8.03 4.41 7.6 4.63 8.2 0.73 0.62 1.72 2.22 4.4 3.4 4.27 1.51 5.26 1.12 4 1.27 7.28

2.15 0.88 26.6 0.162 20.35 54.8 275 11.5 2.93 11.08 16.72 7.63 15 7.14 2.59 15.1 4.25 4.65 7.7 61.8 0.56 1.21 29.9 122 42.95 5.45 1.91 5.57 1.77 1.46 0.114 122 0.8 2.39 57.85 1.05 8.19 4.42 7.68 4.65 8.76 0.74 0.63 1.74 2.25 4.59 3.45 4.59 1.52 5.35 1.13 5.09 1.28 7.3

2.04 0.83 26.8 0.161 21.5 54.8 274 11.3 2.95 11.18 16.9 7.51 15 7.03 2.57 15 4.22 4.81 7.67 61.35 0.54 1.2 29.85 120.1 40 5.4 1.9 5.51 1.72 1.49 0.102 120.6 0.76 2.25 57.85 1.04 8.01 4.45 7.7 4.79 8.76 0.74 0.63 1.73 2.29 4.45 3.45 4.3 1.41 5.25 1.13 4.6 1.23 7.36

2.17 0.87 26.8 0.162 21.5 56.95 275 11.5 2.95 11.2 16.98 7.63 15 7.22 2.62 15.08 4.25 4.94 7.7 61.85 0.56 1.23 29.85 123 40 5.49 1.92 5.6 1.77 1.49 0.102 122.3 0.8 2.25 57.85 1.06 8.19 4.55 7.73 4.8 8.76 0.74 0.63 1.74 2.29 4.45 3.45 4.3 1.52 5.35 1.18 4.6 1.28 7.36

2.04 0.83 26 0.16 20 54.5 270.4 11.2 2.9 10.92 16.52 7.5 15 7 2.57 14.98 4.2 4.48 7.64 61.35 0.53 1.17 29.8 120 40 5.4 1.9 5.51 1.67 1.33 0.102 115.1 0.76 2.21 57.85 1.02 8 4.38 7.6 4.54 8.76 0.74 0.62 1.73 2.12 4.45 3.45 4.29 1.36 5.2 1.1 4.6 1.16 7.04

2.15 0.87 26.6 0.162 20.25 54.8 275 11.48 2.92 11.08 16.72 7.63 15 7.14 2.59 15.08 4.25 4.5 7.7 61.75 0.55 1.2 29.85 122 40 5.43 1.9 5.57 1.77 1.38 0.102 122 0.79 2.21 57.85 1.04 8.19 4.41 7.68 4.63 8.76 0.74 0.63 1.74 2.22 4.45 3.45 4.3 1.52 5.35 1.13 4.6 1.28 7.3

9579000 24000 332600 420000 7678800 246420 187850 931500 627000 120200 424000 101800 1300 294000 198000 35800 56000 4821000 824000 266000 705000 8444000 800 1051560 400 412700 108000 176200 1469000 37000 10000 2373370 65110000 53000 10 4149000 57100 530000 135400 2787000 100 38000 179000 20000 1044000 1000 2000 4956000 8495000 31200 235000 5000 3782000 1250400

20459680 20220 8772800 67230 156355470 13498505 51257260 10620746 1831470 1342992 7080096 767512 19500 2108504 511940 537318 235360 21996050 6328326 16423131.5 385010 10077780 23865 127911460 16000 2247200 205850 981854 2521880 51330 1020 283402356 50344830 117170 578.5 4284040 461238 2346540 1041056 12888790 876 28120 111200 34680 2266560 4450 6900 21310770 12534250 164760 265370 23000 4576700 9010615

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.475 7.97 665 41.7 5.89 1.54 5.98 0.5 0.54 0.54 4.95 4 368.2 3.3 48.4 5.21 0.52 2.43 7.54 0.44 2.72 0.76 0.96 830 95.95 135 0.176 0.134

0.485 8.09 675 41.8 5.9 1.55 6.2 0.54 0.56 0.56 4.96 4.01 370 3.39 48.5 5.72 0.53 2.44 7.57 0.54 2.75 0.79 0.98 837 96 136 0.185 0.146

0.47 8.11 668 41.2 5.9 1.56 6 0.5 0.53 0.54 4.92 3.95 380 3.39 48.75 5.21 0.53 2.44 7.54 0.54 2.62 0.76 0.98 835 96 135.6 0.176 0.138

0.49 8.11 675 41.7 5.98 1.58 6 0.5 0.56 0.56 4.98 4.02 383 3.39 48.75 5.72 0.53 2.45 7.7 0.54 2.75 0.79 0.98 837 96 136 0.176 0.146

0.47 8 655 40.35 5.82 1.51 6 0.5 0.52 0.53 4.91 3.93 366 3.39 46.25 5.21 0.51 2.43 7.41 0.54 2.55 0.76 0.98 812.5 95.7 135 0.176 0.13

0.48 8.08 675 41.7 5.9 1.55 6 0.5 0.56 0.56 4.95 4 370 3.39 48.4 5.72 0.52 2.43 7.57 0.54 2.75 0.76 0.98 837 96 136 0.176 0.146

470000 10700 327370 748100 1801000 970000 12000 131000 5787000 438000 908000 4393000 241890 1000 1308000 1100 129000 3562000 1910500 1200000 38658000 54000 6000 730300 186670 410 100000 730000

com.ph to see the latest NAVPS/NAVPU."

-93020 -4519995 -2697855 -9045346 -15668804 802814 107560 -8888 -2023132 21028 -19500 23165 -10320 295586 266750 -6169420 14420508.5 -5450 -28782021 548014 38200 -522860 -84565325 -7020 -330820 -142315 -557260 -6869130 39020 -13975000 -48810 13650 -100400 2896

225900 86208 217331135 30880850 10607904 1488330 72000 65500 3143630 236290 4491070 17494290 90156718 3390 62237200 5782 66600 8687030 14387719 648000 103003440 41430 5880 605111500 17918389 55656 17600 99260

-19150 10970675 -1699870 -4007789 57600 -53540 905010 -1468110 -22052360 -32385445 -1762000 -1899985 -34200610 379075195 -1038927 53820

PROPERTY ARTHALAND CORP 0.5 0.51 0.5 0.51 0.5 0.51 108000 54110 29.25 29.3 30 30.25 29.05 29.25 17920700 524656000 AYALA LAND 0.98 1.02 1.02 1.02 1.01 1.01 17000 17260 ARANETA PROP BELLE CORP 1.32 1.36 1.32 1.36 1.31 1.36 401000 529130 A BROWN 0.52 0.53 0.54 0.55 0.52 0.53 402000 214310 0.12 0.129 0.119 0.13 0.119 0.129 60020000 7142590 CROWN EQUITIES 5.37 5.5 5.5 5.5 5.5 5.5 1800 9900 CEBU HLDG CEB LANDMASTERS 3.69 3.7 3.83 3.83 3.7 3.71 816000 3032300 CENTURY PROP 0.335 0.34 0.33 0.34 0.33 0.34 710000 235350 0.26 0.28 0.26 0.26 0.26 0.26 60000 15600 CYBER BAY 16.52 16.7 17 17 16.3 16.7 216800 3605494 DOUBLEDRAGON DM WENCESLAO 6.42 6.45 6.5 6.5 6.41 6.42 40200 258982 EMPIRE EAST 0.28 0.3 0.285 0.285 0.28 0.285 110000 31250 0.129 0.132 0.138 0.138 0.126 0.133 5810000 773950 EVER GOTESCO 0.91 0.92 0.93 0.93 0.91 0.92 5076000 4659870 FILINVEST LAND GLOBAL ESTATE 0.78 0.79 0.78 0.78 0.78 0.78 234000 182520 10.06 10.3 10.1 10.1 10.1 10.1 3000 30300 8990 HLDG 0.79 0.8 0.78 0.8 0.78 0.79 159000 125490 PHIL INFRADEV 3.27 3.5 3.02 3.32 3.02 3.27 81000 264180 KEPPEL PROP 0.68 0.75 0.68 0.68 0.68 0.68 46000 31280 CITY AND LAND MEGAWORLD 2.66 2.69 2.59 2.7 2.53 2.69 17040000 44779540 MRC ALLIED 0.142 0.143 0.145 0.147 0.142 0.142 1380000 199120 0.27 0.295 0.265 0.29 0.265 0.29 20000 5550 PHIL ESTATES 1.44 1.49 1.45 1.49 1.44 1.49 6000 8700 PRIMEX CORP ROBINSONS LAND 14.26 14.36 14.7 14.7 14.22 14.26 1686400 24183256 ROCKWELL 1.44 1.47 1.45 1.45 1.44 1.44 16000 23110 2.56 2.64 2.64 2.64 2.56 2.56 151000 387720 SHANG PROP 1.83 1.88 1.85 1.88 1.82 1.88 61000 111770 STA LUCIA LAND SM PRIME HLDG 29.55 29.8 29.3 29.8 28.8 29.8 17783200 521451600 VISTAMALLS 3.55 3.68 3.53 3.79 3.53 3.56 93000 338870 1.12 1.13 1.14 1.14 1.06 1.12 1228000 1362060 SUNTRUST HOME 3.32 3.4 3.35 3.41 3.2 3.32 1556000 5191870 VISTA LAND

-205002950 8160 -2670 -9350 -2846020 -1217622 -32500 -8549.9998 -127640 1704670 3272330 -14199.9998 -11652564 -125440 133929990 -3560150

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 181.83 -29.8% -12.76% -8.05% -27.81% ATRAM Alpha Opportunity Fund, Inc. -a 0.9075 -43.02% -16.78% -9.34% -34.33% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.4253 -39.86% -17.43% -10.84% -34.06% Climbs Share Capital Equity Investment Fund Corp. -a 0.6237 -32.7% n.a. n.a. -30.48% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6486 -24.48% n.a. n.a. -23.63% First Metro Save and Learn Equity Fund,Inc. -a 3.9892 -25.77% -9.52% -7.12% -25.13% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6126 -28.78% -13.53% n.a.

-28.23% MBG Equity Investment Fund, Inc. -a

73.56 -40.43% n.a. n.a. -28.81% PAMI Equity Index Fund, Inc. -a 36.2538 -29.17% -11.47% n.a.

-29.3% Philam Strategic Growth Fund, Inc. -a 391.67 -26.7% -10.54% -7.06% -26.49% Philequity Alpha One Fund, Inc. -a,d,5 0.8276 n.a. n.a. n.a. -19.66% Philequity Dividend Yield Fund, Inc. -a 0.9351 -28.1% -10.5% -6.34% -27.34% Philequity Fund, Inc. -a 27.3769 -28.28% -10.13% -6.25% -27.76% Philequity MSCI Philippine Index Fund, Inc. -a 0.7165 -30.09% n.a. n.a. -29.62% Philequity PSE Index Fund Inc. -a 3.6938 -28.78% -10.97% -6.29% -29.28% Philippine Stock Index Fund Corp. -a

617.48 -28.68% -10.95% -6.52% -29.19%

SERVICES Soldivo Strategic Growth Fund, Inc. -a 0.5633 -38.71% -14.7% -10.36% -33.84% ABS CBN 14.4 14.5 14.5 14.88 14 14.5 314700 4550726 Sun Life Prosperity Philippine Equity Fund, Inc. -a 2.9011 -31.74% -11.8% -7.42% -31.08% 4.79 4.83 4.66 4.85 4.65 4.79 320000 1521090 GMA NETWORK 0.36 0.375 0.36 0.36 0.36 0.36 20000 7200 MANILA BULLETIN Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7083 -28.84% -11.11% -6.45% -29.23% MLA BRDCASTING 15.6 15.7 16.2 17.4 14 15.7 38100 588616 United Fund, Inc. -a 2.6498 -28.07% -8.97% -5.34% -27.47% 2220 2236 2274 2280 2190 2220 139440 309729080 GLOBE TELECOM 1211 1212 1206 1211 1190 1211 136920 164992895 PLDT Exchange Traded Fund 0.039 0.04 0.038 0.04 0.038 0.04 7600000 289000 APOLLO GLOBAL First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 82.8049 -28.58% -10.5% -5.71% DITO CME HLDG 2.2 2.21 2.17 2.22 2.13 2.21 14712000 32176320 ISLAND INFO 0.065 0.075 0.075 0.075 0.075 0.075 30000 2250 -29.2% 1.62 1.63 1.62 1.63 1.61 1.62 588000 951090 NOW CORP ATRAM AsiaPlus Equity Fund, Inc. -b $0.8735 -7.57% -3.57% -4.35% -15.06% 0.171 0.173 0.17 0.173 0.17 0.173 330000 56220 TRANSPACIFIC BR Sun Life Prosperity World Voyager Fund, Inc. -a $1.2873 2.8% 3.77% n.a.

-6.63% PHILWEB 2.15 2.16 2.14 2.18 2.06 2.15 928000 1944500 8.9 9.2 9.58 9.58 8.78 9.2 20600 188314 2GO GROUP Balanced Funds 15.72 16.98 16.98 16.98 16.98 16.98 10000 169800 ASIAN TERMINALS Primarily invested in Peso securities 2.93 3.04 2.88 3.09 2.87 3.05 198000 580740 CHELSEA CEBU AIR 31.8 31.95 32 32.7 31.5 31.8 548800 17557155 ATRAM Dynamic Allocation Fund, Inc. -a 1.4901 -12.37% -5.81% -4.89% -4.65% INTL CONTAINER 83 85 84 85 82.5 85 1032720 85749145.5 ATRAM Philippine Balanced Fund, Inc. -a 1.9409 -15.02% -6.32% -3.61% -11.01% 12.52 13 13.88 13.88 13.88 13.88 1500 20820 LBC EXPRESS 0.73 0.76 0.73 0.76 0.72 0.76 184000 137770 LORENZO SHIPPNG First Metro Save and Learn Balanced Fund Inc. -a 2.3167 -11.18% -3.6% -4.27% -11.96% 4.06 4.07 3.74 4.2 3.72 4.07 11127000 45273350 MACROASIA First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1802 n.a. n.a. n.a.

METROALLIANCE A 2.5 2.58 2.45 2.58 2.38 2.58 1411000 3469110 6 6.1 6 6.18 6 6 37700 228958 PAL HLDG -21.14% 0.73 0.76 0.71 0.76 0.71 0.73 335000 245430 HARBOR STAR NCM Mutual Fund of the Phils., Inc. -a 1.776 -7.08% -2.32% -1.53% -9.53% 1.08 1.13 1.05 1.08 1.05 1.08 20000 21570 ACESITE HOTEL PAMI Horizon Fund, Inc. -a 3.2935 -9.95% -4.13% -3.09% -13.08% BOULEVARD HLDG 0.025 0.026 0.025 0.026 0.025 0.026 1300000 32600 0.365 0.375 0.365 0.375 0.365 0.375 30000 11150 WATERFRONT Philam Fund, Inc. -a 14.7165 -10.82% -4.32% -3.2% -13.23% 0.28 0.29 0.29 0.29 0.28 0.285 700000 198350 STI HLDG Solidaritas Fund, Inc. -a 1.8183 -14.42% -5.36% -3.08% -14.47% 2.01 2.07 2 2.07 2 2.07 100000 200920 BERJAYA BLOOMBERRY 5.43 5.44 5.4 5.47 5.36 5.44 5101200 27743349 Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.0985 -18.77% -6.41% -4.33% -19.81% PACIFIC ONLINE 1.69 1.9 1.9 1.9 1.9 1.9 5000 9500 Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.8904 -10.22% n.a. n.a. -12.34% 1.42 1.45 1.46 1.46 1.42 1.42 20000 28480 LEISURE AND RES 2.4 2.41 1.66 2.47 1.66 2.44 282000 639600 PH RESORTS GRP Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.7768 -21.24% n.a. n.a. -22.04% PREMIUM LEISURE 0.285 0.29 0.29 0.29 0.28 0.285 630000 180050 Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.7512 -23.64% n.a. n.a. -24.37% 7.41 8.4 7.05 7.05 7.05 7.05 100 705 PHIL RACING Sun Life Prosperity Dynamic Fund, Inc. -a 0.7631 -21.78% -7.49% -5.75% -21.72% 5.45 5.47 5.33 5.58 5.23 5.47 1847200 10045291 ALLHOME 1.5 1.51 1.55 1.55 1.5 1.5 1775000 2679750 METRO RETAIL Primarily invested in foreign currency securities 46.15 46.35 47 47 46.1 46.35 2250200 104272430 PUREGOLD Cocolife Dollar Fund Builder, Inc. -a $0.03822 4.34% 2.42% 1.51% -0.03% ROBINSONS RTL 67.85 67.95 68.9 69 67.75 67.95 295490 20098461.5 PHIL SEVEN CORP 128 129 129 129 129 129 50 6450 PAMI Asia Balanced Fund, Inc. -b $0.924 -2.3% -1.35% -2.12% -10.97% 1.06 1.07 1.06 1.08 1.05 1.07 2182000 2321510 SSI GROUP 1.01% 2.67% 1.93% -5.98% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.677 14.9 14.92 15 15 14.8 14.92 2104800 31393152 WILCON DEPOT APC GROUP 0.285 0.3 0.3 0.3 0.29 0.3 220000 64000 Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.0761 n.a.

1.12% n.a.

-4.67% 6.42 6.5 6.6 6.75 6.38 6.5 34200 223031 EASYCALL Bond Funds 296 314.8 294.8 295 294.8 295 80 23594 GOLDEN BRIA 2.13 2.28 2.14 2.14 2.14 2.14 7000 14980 PAXYS Primarily invested in Peso securities PRMIERE HORIZON 0.196 0.197 0.197 0.197 0.195 0.197 1330000 261570 ALFM Peso Bond Fund, Inc. -a 363.64 4.24% 3.01% 2.46% 1.63% ATRAM Corporate Bond Fund, Inc. -a 1.9347 2.57% 1.03% -0.12% 1.72%

MINING & OIL ATOK 10 10.2 10.22 10.22 10.2 10.2 1200 12244 Cocolife Fixed Income Fund, Inc. -a 3.1784 4.77% 5.15% 5.11% 1.99% 0.9 0.91 0.9 0.91 0.9 0.91 297000 267350 APEX MINING Ekklesia Mutual Fund Inc. -a 2.2807 5.24% 2.79% 2.25% 2.5% ABRA MINING 0.0008 0.0009 0.0009 0.001 0.0008 0.0009 1068000000 958100 First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4298 6.9% 3.13% 1.87% 3% ATLAS MINING 1.8 1.86 1.8 1.8 1.8 1.8 300000 540000 2.68 2.71 2.68 2.71 2.68 2.71 72000 194640 CENTURY PEAK Philam Bond Fund, Inc. -a 4.537 11.32% 3.79% 3.75% 2.29% 0.71 0.73 0.73 0.73 0.7 0.73 1651000 1172660 FERRONICKEL Philam Managed Income Fund, Inc. -a,6 1.286 6.87% 3.84% 2.09% 2.33% GEOGRACE 0.195 0.2 0.199 0.202 0.194 0.199 2800000 547620 LEPANTO A 0.073 0.075 0.08 0.08 0.074 0.074 2430000 182860 Philequity Peso Bond Fund, Inc. -a 3.9102 7.78% 4.02% 2.12% 3.22% 0.5 0.53 0.53 0.53 0.53 0.53 26000 13780 MARCVENTURES Soldivo Bond Fund, Inc. -a 1.0223 10.67% 3.35% 1.57% 6.01% 0.99 1.01 1.02 1.03 0.99 1 169000 168920 NIHAO NICKEL ASIA 1.48 1.49 1.47 1.5 1.47 1.49 2054000 3045250 Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1416 8.07% 4.62% 2.83% 2.14% ORNTL PENINSULA 0.47 0.485 0.49 0.49 0.455 0.455 300000 138850 Sun Life Prosperity GS Fund, Inc. -a

1.7332 7.55% 4.09% 2.35% 1.89% 2.27 2.3 2.26 2.3 2.26 2.3 32000 72630 PX MINING 11.3 11.74 11.2 11.74 10.9 11.74 465800 5234860 SEMIRARA MINING Primarily invested in foreign currency securities ACE ENEXOR 6.24 6.49 6.22 6.49 6.22 6.49 18500 117975 ALFM Dollar Bond Fund, Inc. -a $470.84 3.29% 2.37% 2.49% 0.56% 0.0085 0.0086 0.0084 0.0084 0.0084 0.0084 5000000 42000 ORNTL PETROL A ALFM Euro Bond Fund, Inc. -a Є214.61 -0.64% 0.58% 0.73% -2.33% 4.6 4.61 4.53 4.63 4.36 4.6 1502000 6799010 PXP ENERGY

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2145 3.7% 2.72% 2.29% 0.6% PREFFERED First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 1.97% 1.32% 1.12% 0.39% HOUSE PREF A 96.25 98.8 98.8 98.8 98.8 98.8 20 1976 498 502 500 500 498 498 90 44840 AC PREF B2R PAMI Global Bond Fund, Inc -b $1.0619 -0.95% -0.34% -0.23% -3.04% CPG PREF A 99.5 100 100 100 100 100 100 10000 Philam Dollar Bond Fund, Inc. -a $2.4143 5.65% 2.95% 2.52% 0.44% 100 101 100.7 101 100.7 101 20040 2023319 DD PREF Philequity Dollar Income Fund Inc. -a $0.0600028 2.42% 1.67% 1.55% -0.52% 103 107 107 107 107 107 4510 482570 FGEN PREF G 510 511 510 510 510 510 2000 1020000 GLO PREF P Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1647 5.28% 2.12% 2.01% -0.33% GTCAP PREF A 900.5 990 990 990 990 990 100 99000 Money Market Funds 99.8 100 100 100 100 100 1000 100000 MWIDE PREF 99 99.5 99.5 99.5 99 99 6860 679170 PNX PREF 3A Primarily invested in Peso securities 101 105.5 100.5 100.5 100.5 100.5 1600 160800 PNX PREF 3B ALFM Money Market Fund, Inc. -a 127.7 3.83% 3.13% 2.38% 1.53% PNX PREF 4 997 999 999 999 997 999 1260 1258340 1030 1050 1030 1030 1030 1030 80 82400 PCOR PREF 2B First Metro Save and Learn Money Market Fund, Inc. -a 1.0391 2.69% n.a. n.a.

1.25% 993 1025 1000 1000 993 993 200 199300 PCOR PREF 3A Sun Life Prosperity Money Market Fund, Inc. -a 1.2802 3.3% 3.02% 2.55% 1.23% 1030 1049 1023 1023 1023 1023 290 296670 PCOR PREF 3B Primarily invested in foreign currency securities SMC PREF 2C 77.5 77.6 77.6 77.6 77.5 77.5 1850 143460 74.5 75.1 74.5 74.5 74.5 74.5 700 52150 SMC PREF 2D Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0426 1.64% n.a. n.a.

0.52% 75 75.4 75.4 75.4 75.4 75.4 1930 145522 SMC PREF 2E Feeder Fund 75.25 76.1 76 76 75.3 75.3 6380 483480 SMC PREF 2G 76.5 76.9 76.5 76.5 76.5 76.5 800000 61200000 SMC PREF 2I Primarily invested in foreign currency securities

ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.92 n.a. n.a. n.a.

-7.07% PHIL. DEPOSITARY RECEIPTS a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

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

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

6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund).

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

283200 -166057864 20458795.5 3,705,151.9996) -3310746 3472425 -160004 -104738180.5 1076 -

-75587140 -57000295 106350 919.9999 -15751210 -28579130.5 5361370 12077483 1132741 -766840 -8526250 -7713181 -1289650 -4250816 341900 140800 210000 -311640 -932350 -6900 487628 264859.9999 -1020000 99000 75400 -

ABS HLDG PDR 13.54 13.98 13.52 13.8 13.52 13.54 3118700 43034022 -37976 4.54 4.84 4.65 4.65 4.52 4.52 3000 13690 GMA HLDG PDR

WARRANTS LR WARRANT 0.68 0.7 0.71 0.71 0.71 0.71 3000 2130

SMALL & MEDIUM ENTERPRISES ITALPINAS 1.74 1.75 1.67 1.75 1.66 1.74 969000 1663130 -85000 5.8 6 5.8 6 5.8 6 4400 25980 KEPWEALTH MAKATI FINANCE 1.72 2 1.61 1.72 1.61 1.72 6000 10100 0.56 0.57 0.58 0.58 0.55 0.57 1139000 639810 XURPAS

EXHANGE TRADE FUNDS

FIRST METRO ETF 84 85.95 84.4 84.4 83 84 18070 1509804 42601

Editor: Eleanor Leyco-Chua

Health&Fitness BusinessMirror

Thursday, May 28, 2020 B3

Diabesity: The Tricky Devil in times of COVID-19

W

FITNESS RULES

By Greggy H. Romualdez

By Dr David Heber, MD, PhD, FACP, FASN

e are fighting multiple health devils in our daily lives. While Covid-19 is the most recent one, it’s important that we do not lay our eyes off a few of those health-care issues that have been afflicting the urban dwellers for long.

Noncommunicable diseases, as we know, contributed 71 percent of the 56.9 million global deaths in 2016. From this global burden, diabetes led to 1.6 billion deaths.

As of 2013, over 380 million people across the globe were affected by diabetes—a number expected to inch closer to 600 million by 2035. The Asia-Pacific region is generally considered the epicenter of the diabetes crisis. In these countries, people develop the disease earlier, get sicker, and die sooner than their counterparts in wealthier countries.

Meanwhile, most individuals with type 2 diabetes—roughly 80 percent—are considered obese, highlighting the strong association between diabetes and obesity.

“Diabesity:” Occurrence of diabetes in the context of obesity

It doesn’t necessarily mean that all obese folks develop diabetes; they don’t.

But according to research conducted by the National Center for Biotechnology Information, it does suggest a pretty direct connection, one that will only get deeper over time.

Owing to the strong correlation between the two, Sims and colleagues in as early as the 1970s, coined the term “diabesity.” When defined, the term seems simple enough: diabesity is a convenient way of describing and discussing type 2 diabetes in the context of obesity. These two afflictions seem to converge and intersect more and more, popping up in many households and communities, among family and friends who have long struggled with their weight.

In addition, some people can appear to be of normal weight, and yet be carrying excess body fat. This is sometimes referred to as “TOFI” – thin on the outside and fat on the inside. This is especially common among Asians, South Asians, fashion models, and women who eat

too little protein and remain sedentary.

Having Diabesity in times of Covid-19 is tricky

According to the World Health Organization, aged individuals and individuals with pre-existing non-communicable diseases such as diabetes, lung, and heart conditions are highly susceptible to COVID-19 infection.

Excess upper body fat and abdominal fat constrict the lungs. These excessive fat deposits also increase susceptibility to pulmonary infections and exacerbate airway inflammation. Diabetes on the other hand is known to weaken the natural immune reflexes of the body.

In comparison to an average weighing person with no diabetes, these individuals will face higher risk of complications and may not respond to the treatments too.

It starts with mindful eating

The battle against diabesity and the risk of diabesity includes early detection, screening, prevention, health management, and personal behavior.

At the most fundamental layer of personal behavior, it begins with healthier choices and mindful eating.

In times like this, healthcare practitioners are best positioned to guide their patients over and above the regular consultation to adopt the following dietary enhancements: n Incorporate low glycemic food such as vegetables, whole fruits, beans and most 100 percent whole grains, which are high in fiber and promote satiety. These food types are also nutrient-dense so that nutrition is maximized while limiting excessive calories. n Add fish, lean meat and soy protein that is digested more slowly than highlyrefined grains and help fight hunger n Avoid “empty” calories like excessive sugar, salt, saturated fats and chemi-

DREAMSTIME.COM

Boosting our immune system with whey protein cal preservatives that are often found or hidden in highly processed food

Make friends with movement

It is the sedentary lifestyle of the current age which, combined with the high fat, high sugar, and high starch diet, unmasks the genes for obesity. It is generally believed that the very obese (those over 100 pounds overweight or with a BMI >40), have the greatest genetic programming for obesity.

The American College of Sports Medicine (ACSM) recommends moderate physical activity of at least 2.5 to 5 hours a week for substantial health benefits. Saris et al. recommended at least 5 to 7 hours a week of moderate physical activity is necessary to prevent the transition of normal weight to overweight or overweight to obese. Exercise should include both cardiovascular activities and resistance training that targets major muscle groups.

Using behavior change strategies

Successful weight management involves not only lifestyle changes (e.g. diet and physical activity habits) but also behavior modification. Scientific literature stresses three specific behavior modifications techniques that work when trying to manage weight:

n Self-monitoring Research has consistently demonstrated that self-monitoring is associated with improved treatment outcomes and patients report that it is one of the most helpful tools in weight management.

n Stimulus control

Identifying and modifying cues associated with overeating and inactivity can make it easier to maintain

healthy habits. Controlling cues associated with overeating or a sedentary lifestyle can be helpful for long-term weight maintenance because exposure to these triggers may cause weight regain.

n Stress management

Stress is a primary trigger or overeating, deep breathing, muscle relaxation and meditation are proven stress reduction techniques and can reduce distraction from stressful events which can interfere with the adoption and maintenance of new behaviors.

Finally, higher levels of social support is associated with greater success in weight management. Several independent studies show groups do not need to be primarily oriented toward weight management. Peer support can help people to become more self-accepting, develop interpersonal skills or new ways to manage stressful situations, all of which, in turn, might help with weight management objectives as a secondary positive consequence.

Dr. David Heber is the Founding Director of the Center for Human Nutrition at the University of California, Los Angeles, where he has been on the faculty of the UCLA School of Medicine since 1978.

He is currently Professor Emeritus of Medicine and Public Health and Founding Chief of the Division of Clinical Nutrition in the Department of Medicine of the David Geffen School of Medicine at UCLA. He is also the Chairman of the Herbalife Nutrition Institute (HNI), which promotes excellence in nutrition education for the public and scientific community and sponsors scientific symposia. His main research interests are obesity treatment and nutrition for cancer prevention and treatment.

Staying fit and strong amid Covid-19 pandemic A

s the current Covid-19 pandemic continues to spread around the world, keeping a healthy lifestyle is vital to reduce the risks of getting infected, especially while everyone is still advised to stay at home amid the lockdowns and community quarantines.

To maintain a healthy lifestyle, the World Health Organization (WHO) recommends keeping a healthy and nutritious diet. Alcohol and sugary drinks consumption must also be avoided, as well as smoking, which increases the risk of developing severe diseases if infected with the novel virus. It is also recommended to stay active by finding time to exercise every day—at least 30 minutes for adults while an hour for children.

Just because you are staying at home during these trying times, it does not mean that your physical activities need to stop. To help you keep yourself healthy and active, Santé, a provider of premier organic health and wellness products and services, lists simple, equipment-free workout you can do at home:

Warm-Up. Do two sets of the following movements without rest to get your muscles loose and your core temperature up.

n Jumping Jacks (30 reps) How to do it? Stand upright with your legs together and arms at your sides. Bend your knees slightly then, jump. As you jump, spread your legs, and stretch your arms out and over your head.

Jump back to starting position and then repeat. n High Knees (30 reps) How to do it? Stand in place with your feet hip-width distance apart. Drive your right knee toward your chest and quickly place it back on the ground then, follow immediately by repeating the movement with your left knee. Continue repeating the movements alternately as quickly

as you can. n Squats (15 reps) How to do it? Start by standing, and then drop the buttocks back and bend the knees into a sitting position. Some people find this exercise easier with a ball between their knees. n Alternating forward lunges (15 reps) How to do it? Stand upright with your feet hip-width distance apart. Bend your elbows at your sides or rest your hands on your hips. Step forward with your right foot, lowering your hips until both of your knees are bent at a 90-degree angle. Keep your front knee directly about the ankle and lower the left knee to just above the floor.

Keep your weight on your heels as you go back to the starting position. Repeat the process with your left foot forward to complete a single rep.

Workout. Do two sets of the following movements without resting in between.

n Push-ups (10 reps) How to do it? Get down on all fours, placing your hands slightly wider than your shoulders.

Straighten your arms and legs, then lower your body until your chest nearly touches the floor.

Pause for a second, then push yourself back up.

Repeat the movement ten times. n Tricep Dips (10 reps) How to do it? Position your hands, shoulderwidth apart, on a stable chair. Then, slide your butt off the of the chair with your legs extended out in front of you. Straighten your arms while keeping a little bend in your elbows to keep the tension on your triceps and off your elbow joints.

Slowly bend your elbows until about a 90-degree angle to lower your body towards the floor. And then, press down into the chair to straighten your elbows back, returning to the starting position.

Repeat the movement ten times.

n Sit-ups (10 reps) How to do it? Lie down, then bend your knees. Place your feet firmly on the ground to stabilize your lower back. Cross your hands to opposite shoulders, then curl your upper body up toward your knees. Do not forget to exhale as you lift. Lastly, slowly lower yourself down to the starting position while inhaling. Repeat the movement ten times. n Wall Sits (20 seconds) How to do it? Lean back against a wall with your feet shoulder-width apart. Then, press back and slide down the wall until your thighs are parallel to the ground. Your knees must be above your ankles and bent at a 90-degree angle. Keep your head, shoulders, and upper back against the wall and hold the position for 20 to 30 seconds. n Squat Jumps (15 reps) How to do it? Stand with your feet shoulder-width apart. Curl your body to do a squat and engage your core. And then, jump. When you land, lower your body back into the squat position to complete one rep. Repeat the movement 15 times.

Cardio and Workout Finisher.

Do at least one set without rest.

n Mountain Climbers (30 seconds) How to do it? Lie down on the floor in a prone position and get into a plank position while extending your arms directly below your shoulders.

Keeping your core very taut and tight, use your strength to bring your left knee toward your chest. Hold your position for at least 30 seconds.

Repeat the movement with your right leg while simultaneously moving your left one back to its original position. n Burpees (30 seconds) How to do it? Stand with your feet shoulderwidth apart, arms by your sides. Then, bend your

knees and reach forward to place your hands on the floor. Kick your legs straight out behind you and immediately lower your entire body down to the ground, bending at the elbows. Use your arms to quickly push your body back up and hop your legs back under your body. Lastly, jump straight up into the air, reaching your arms overhead. End with your knees slightly bent, and go directly into the next rep. n Plank (30 seconds) How to do it? Start on the floor on your hands and knees. Place your hands directly under your shoulders. Step your feet back, one at a time. For more stability, bring your feet wider than hipdistance apart, and bring them closer for more of a challenge. Maintain a straight line from heels through the top of your head, looking down at the floor, with gaze slightly in front of your face.

Then, tighten your abs, quads, glutes, and hold for about thirty seconds.

While you are at it, do not forget to stay hydrated with other healthy drinks to help yourself cool down. For athletes and health enthusiasts alike, keeping yourself hydrated can also help cleanse the body of waste in the form of urine and sweat.

Choosing water or other healthy drinks instead of just those sugar-sweetened beverages can also help with weight management as it can reduce your calorie intake. Aside from water, among the healthier choices you can drink, to stay hydrated while keeping an active and healthy lifestyle is FITn’Trim, a weight-management drink that is a game-changer to working out and getting fit.

Enriched with vitamin C that helps keep your immune system functioning optimally, FITn’Trim also has Santé’s signature organic pure barley grass powder, certified by BioGro, New Zealand’s leading organic certification agency.

To learn more about Santé, visit its web site at santebarley.com.

A

s we are ensnared in a global health pandemic that has changed the world in ways we could never have imagined, we must go down to basics and be mindful of how we live out our everyday lives. Hygiene, proper handwashing and social distancing have become the norm in our quest to survive the onslaught of the year 2020.

Face masks, sanitizers, disinfectants and vitamin C have become anti-Covid essentials as we jostle to keep infection at bay.

An important but glossed over aspect of staying infection free is the need to keep our immune systems healthy through a balanced diet. A strong immune system may spell the difference between staying healthy and catching an infection. We’ve always been reminded to eat our fruits and vegetables as part of a healthy, balanced diet.

We’re well aware that fruits and leafy greens which provide our bodies with various vitamins and nutrients that can aid our immune system.

It is also important to consider getting adequate amounts of protein in our bodies. While the recommended daily amount of protein per day may vary slightly from one expert to the other, the figure rests somewhere between 1 gram of protein per pound of bodyweight for most individuals. If for instance you weigh 150 lbs, you should ideally be getting 150 grams of protein on a daily basis. Leading sources of protein are meat, fish, eggs, dairy, nuts, soy, and legumes. A medium-sized egg has around 5 grams of protein while one chicken breast contains 30 grams of protein.

As it may sometimes be difficult to take in all your protein needs from whole food sources, supplementing with whey protein powder might be a convenient option. One scoop of whey protein may contain anywhere between 20 grams to 30 grams of protein per scoop (Muscletech and Rule1 are excellent choices).

Inadequate protein intake may weaken the immune system, slow recovery from sickness and lead to a reduction in lean muscle mass. Thus, it is imperative to make sure we do not leave out protein in the immune system equation. Amino acids that are present in protein power our cells to be healthy, enabling them to keep our immune system in optimal condition.

Being rich in the amino acids cysteine and methionine, whey protein has strong antioxidant properties as both amino acids facilitate the production of glutathione. This forms the centerpiece of the body’s anti-oxidant defense system, protecting against free radical damage and infection.

As glutathione levels decrease with age and illness, supplementing with whey protein should be considered for the elderly and that recovering from sickness as it has the unique capacity to increase beneficial glutathione that promotes a stronger immune system.

Apart from helping build lean muscle mass for bodybuilders and fitness buffs, whey protein shakes also provide benefits for ordinary folk who don’t work out by way of helping boost the immune system and serving as an added layer of protection against various diseases.

Globe starts weekly rapid antibody testing of frontline employees

A

s the government eases up community quarantine restrictions, Globe Telecom has started the weekly rapid antibody testing of all its frontliners to ensure that both the workforce and stakeholders are protected from COVID-19 spread and infection.

At least 15 percent of the company’s over 8,000 employees have been working in the frontline as critical skeletal force since the beginning of the enhanced community quarantine in mid-March and an additional 5 percent are returning to their posts as Globe starts reopening its Stores and fielding more personnel for network build, expansion, and maintenance.

“The safety of our employees and the public is of paramount importance to us. That is why we have decided to do mass testing of our frontline workers on a weekly basis using the rapid antibody testing kits. If some sort of positivity appears in that particular test, then we are going to do a more extensive test,” said Renato Jiao, Globe chief human

resource officer.

Globe is working in close coordination with Ayala Healthcare Holdings, Inc. (AC Health) in screening its own employees and those of its service contractors. The test kits, which passed the high standards set by AC Health, use a person’s blood sample to measure antibodies which are the body’s response in fighting an infection.

Results can be released in half an hour.

The move is also in support of the efforts

by Task Force T3 (Test, Trace, Treat) to ramp up testing operations and health-care capacity in the country to save lives and livelihoods during the pandemic. Task T3, which AC Health is part of, is a public-private partnership created to help the government locate, isolate and care for Covid-19 carriers to keep communities safe and manage the transmission of the virus.

Aside from rapid testing, Globe will continue to strictly observe health protocols as mandated by government guidelines upon those who are returning to work.

Uniqlo shirts to keep frontliners fresh

T

he SM Foundation Inc. (SMFI) and Uniqlo team up to keep Quezon medical frontliners clean and

fresh.

Twelve boxes (420 dri-fit shirts) were provided by the SMFI and signature clothing line Uniqlo to medical health workers of Quezon Medical Center (QMC) in Lucena.

The turnover of the shirts was carried out at the QMC, received by Dr. Zarina

Rosales, resident pediatrician, also a frontliner in the hospital.

This simple token of appreciation to medical frontliners is replicated to other hospitals in the country to boost their sense of commitment toward guarding the people and keeping them safe from the threat of Covid-19 infection x.

They were also reminded to keep themselves safe and healthy further serve the community.

Envoys&Expats BusinessMirror

B4 Thursday, May 28, 2020

VANDE BHARAT MISSION The government of India, led by Ambassador Jaideep Ma-

MASKS FOR VETS Commemorating the 70th anniversary of the Korean War and to express gratitude to Filipino war veterans, the Embassy of South Korea turned over 50,000 masks for surviving soldiers to protect them against the ongoing pandemic. Ambassador Han Dong-man (second from left) and other top officials led the handover ceremony on May 22 in Camp Aguinaldo, Quezon City. Medical items consisting of 20,000 masks, 2,000 bottles of hand sanitizers, 180 barrels of disinfectant solutions and 300 packs of disinfectant wipes from the said country were also shipped via the Korean-made frigate BRP Jose Rizal, which was scheduled to arrive in Subic Bay on May 23.

www.businessmirror.com.ph

FROM TAIWAN TO MANILA The Taiwanese Compatriot Association in the Philippines recently donated 200 pieces of personal protective gowns to District 6 of the City of Manila on May 20. Its representative Allan Chen (left) handed over the items to Congressman Bienvenido M. Abante Jr. (center).

PHL lauds IAEA’s nuclear tech assistance package

zumdar, coordinated with the Department of Foreign Affairs, Department of Tourism and the Bureau of Immigration the evacuation of its nationals in the Philippines who were stranded by the current pandemic. The first flight from Manila to Mumbai took off on May 10 that carried 154 passengers. Later repatriation flights to Ahmedabad, New Delhi, Hyderabad and Chennai had successfully flown back more than 800 stranded Indians, many of whom were students, tourists, senior citizens and those with health concerns. The second phase of the repatriation was scheduled to commence between May 19 and 30. Succeeding flights are being planned, including one from Cebu for a direct flight to India.

Online learning platform donates medical supplies to PHL

V

IENNA—In a recent virtual meeting among the memberstates of the International Atomic Energy Agency (IAEA), Ambassador to Austria Maria Cleofe R. Natividad expressed the Philippine government’s appreciation to the agency and its director, General Rafael Mariano Grossi, for their assistance in addressing the spread of the coronavirus disease 2019 (Covid-19) pandemic in the country.

The ambassador likewise conveyed her thanks to donors who have made the IAEA’s emergency

response possible.

The agency’s assistance package to the Philippines, which included a

AMBASSADOR Maria Cleofe R. Natividad (left photo) thanks the International Atomic Energy Agency for its Covid-19 assistance to the Philippines, as a molecular biologist performs a nuclearderived technique used in the detection of the virus. DEAN CALMA-IAEA/DFA

mobile X-ray system, various laboratory equipment, personal protective equipment (PPEs) and other materials, was valued at €288,540.37, or approximately P16 million, and was delivered directly to the Department of Health. The equipment and materials are deemed to enhance the capacity of the Philippine health-care system and support the Duterte administration’s T3 strategy, or “Test, Trace and Treat.”

The IAEA is a multilateral organi-

zation based in Vienna dedicated to international cooperation in the field of nuclear science, where the Philippines has been a member since 1958.

Said agency’s valuable assistance is being delivered under the Technical Cooperation Programme—the main vehicle for its statutory function of encouraging and assisting research on, as well as the development and practical application of, nuclear energy for peaceful uses throughout the world.

Embassy: Israel steadily returns to normalcy

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UE to the significant decrease in the number of active coronavirus disease 2019 (Covid-19) cases in the State of Israel in the past weeks, its embassy in the Philippines said that the “Holy Land” is gradually reducing restrictions, and is preparing for a new “Corona routine.”

This was announced via a press conference of Prime Minister Benjamin Netanyahu and his ministers. Their government, according to the embassy, has presented the “Israeli exit strategy” from the Covid-19 crisis. Such includes a gradual and responsible return to normality while controlling the pandemic.

Israel has published a fourstep plan to be executed between May and mid-June, subject to

the continuous improvement in active case rates. The main decisions include: Domestic tourism: In a special meeting convened to discuss the return of the tourism industry to activity, it was agreed that early this month, “bed and breakfast” accommodations, especially in the rural tourism areas, will return to operate, provided they follow the recommended “Purple Guidelines” decided upon by the Ministry of Health and the Ministry of Tourism.

According to the said guidelines, “Accommodation facilities will be held to high standards of cleaning, training of workers according to the new guidelines, upgrading of air ventilation, reducing crowd-gathering, and offering

of special booking and [terms of cancellation].”

Work: All public-sector and private-sector employees may return to work, subject to the guidelines.

Education: T he education system in Israel is gradually returning to activity, starting with elementary schools (Grades 1 to 3, with limited number of children in each classroom) and high school (Grades 11 to 12, studying for their final exams in small groups). By the end of May, it is planned that all students in Israel will return to full educational activity in schools, universities, and libraries, among others.

Leisure and sports: Parks and nature reserves, gyms, outdoor sports, stores of all sectors, shopping malls, museums and

theaters are subject to relevant guidelines.

Persons with related diseases to Covid-19 and the elderly aged 70 and older are advised to remain in their homes for the time being.

The International Pride Parade in Tel Aviv will be postponed until August.

According to its embassy, Israel is known for its uncompromising safety standards and will continue to provide the highest level of health practices to all its citizens and visitors. In March, it closed its borders and skies to noncitizens in the hopes of minimizing the virus spread within. Currently, only flights intended for transitioning of necessary equipment and the return of its citizens are allowed into the country.

Viva Europa 2020: All about hope, solidarity, friendship

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HE Delegation of the European Union (EU) is currently holding its cultural showcase Viva Europa, with online treats available until June 6 showcasing the best of the continent’s music, arts and crafts, literature, films and astronomy.

Viva Europa kicked off with a free online movie screening, with 11 multi-awarded full films and eight short flicks subtitled in English.

Enjoy these until June 18 by signing into Festival Scope’s Facebook page for free passes.

For rave fans, the Euro-Pinoy Concert is back with jazz artist Tomás Sýkora (Czech Republic), violinists Jeanette Kamphuis and Stefan Randehed (brother-and-sister team, Sweden), flamenco guitarist Alex Fernandez (Spain) and

DJ Bhutta B (Philippines), to be hosted by Sanya Smith. It will be streamed live on May 29, 8 p.m. via the EU in the Philippines Facebook page and Twitch.com.

Poetry lovers are also in for a pleasant literary recital, as diplomats and the European community from the Czech Republic, France, Hungary, Italy, Poland, Spain and the EU Delegation will read carefully selected poems that convey messages of solidarity, hope and collaboration to Filipino audiences. Renowned poets Alma Anonas-Carpio and Mookie Lacuesta, along with two young poets from Linangan sa Imahen, Retorika at Anyo, or Lira, will represent the Philippines. The event will also be live-streamed

in the said Facebook page on May 30 at 5 p.m.

“Lakbayin Natin ang EU,” or Journey to the EU, will be held virtually for the first time. French children’s films with English subtitles will be made available for Filipino kids in early June.

The children’s festival proper will be held on June 5 at 10:30 a.m., also to be live-streamed via Facebook.

The embassies of the Czech Republic, France, Italy, Poland, and the EU Delegation have prepared a cacophony and cocktail of the best of arts and crafts, films and puppetry, together with introductions and doodles’ session, with noted TV personality and artist Robert Alejandro.

With 12 stars symbolizing unity, harmony

and solidarity among the peoples of Europe, the delegation will once again conduct its evening sky-gazing event, “Ode to the Stars and to the Moon,” on June 6 at 8 p.m. Get the chance to learn more about the immense power behind the heavenly bodies from the EU Embassy’s Program Manager and astronomer Giovanni Seritella, Professor Jun Cajigal, and members of the Philippine Astronomical Society.

This astronomical event derives inspiration from the ongoing dialogues between the EU and the Philippines through the Copernicus Programme, the EU’s Earth-observation tool, which draws on a large number of space, onsite and local-measurement systems.

51TALK officials turned over personal protective equipment to the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc.

By Roderick L. Abad @rodrik_28 Contributor

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HINA’S leading online English-education platform 51Talk recently donated P5.25-million worth of medical supplies to the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII), which will help three Metro Manila hospitals fight the contagion of the coronavirus disease 2019 (Covid-19).

Beneficiaries of the personal protective equipment are the Philippine General Hospital’s Department of Pediatrics, St. Luke’s Medical Center’s Institute of Pediatrics and Child Health, and the Metropolitan Medical Center-Manila.

During a recent turnover ceremony, FFCCCII External Affairs Committee Chair man Nelson Guevarra, representing FFCCCII President Henry Lim Bon Liong, expressed his gratitude to the Chinese company for the donation.

“On behalf of FFCCCII, I would like to thank 51Talk, its [founder and CEO] Jack Huang and Country Head Jennifer Que,” Guevarra said, and added: “Only through helping each other will our nation overcome this crisis.”

The donation boxes containing medical supplies carry the phrase, “Mountain Shared, Hardships

Borne,” lifted from a quote of a famous Chinese poet that speaks of the interconnectedness of people and societies in times of hardship and need.

“As the Philippines grapples to contain [Covid-19], we are working round-the-clock to make the delivery as fast as possible, so the supplies can reach those who need them most,” said Huang. “United as we stand, divided as we fall. And it would be irresponsible of us to sit on our hands or fail to act. We need to take some firm action to help locals, including those workfrom-home teachers.”

The CEO wanted to position the New York Stock Exchangelisted 51Talk as a bridge that can give a boost to Chinese-Filipino friendship.

Since 2011, 51Talk has tapped more than 20,000 Filipino webbased tutors to teach English to Chinese kids. The home-based online teaching setup has proven to be very resilient amid the enhanced community quarantine in Metro Manila and other Covid-19-hit areas in the country, while traditional businesses and other forms of livelihood have been disrupted.

With an exploding demand for English-speaking tutors in China, more locals are expected to become one in the coming days, given the rise of “work-from-home” setup as the new norm.

Australia, UNDP aid Moro youth fight Covid-19 disinformation

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ANAO DEL SUR—The Coalition of Moro Youth Movement (CMYM) conducted a campaign to fight misinformation on the coronavirus disease 2019 (Covid-19) in the Bangsamoro region.

With support from United Nations Development Programme and the Australian Embassy in the Philippines, the CMYM started its information-dissemination efforts in different areas in Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) to curb the spread of fake news on the pandemic.

Capitalizing on their significant socialmedia following, the CMYM produced materials with updated information and frequently asked questions about Covid-19.

These are translated into local dialects to adapt to local communities in BARMM. In areas where connection to the Internet is limited, the CMYM distributed flyers to ensure that people are updated with correct information. The youth coalition also tapped faith-based leaders to reach out to more conservative and remote communities.

Alongside the BARMM government’s efforts to prevent the spread of Covid-19 in the region, the CMYM also distributed more than 700 hygiene kits to frontline workers in Lanao del Sur’s 54 barangays. The Local Task Force against Covid-19 and frontline workers from the Moro Islamic Liberation Front were among the recipients.

Sports BusinessMirror

mirror_sports@yahoo.com.ph / Editor: Jun Lomibao

Thursday, May 28, 2020

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RECORD ATTEMPTS

ALSO GO ONLINE

Jed Hockin poses in front of recycling cans and a basketball hoop in Toowoomba in

Queensland, Australia. AP

AJ LIM: EAGER TO PLAY

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ENNIS is now one of more than a dozen sports allowed as lockdowns are slowly being relaxed amid the Covid-19 pandemic.

This gives national team mainstay Alberto Lim Jr. a sigh of relief after missing the court—like everybody else all over the world—for more than two months since the pandemic protocols crashed through the ceiling.

“It’s going to be exciting knowing that we can all go back to our training,” Lim told the BusinessMirror on Wednesday.

Lim, who turned 21 years old two Mondays ago, was stuck in his condominium unit in Manila since March.

The former University of the East star and University Athletic Association of the Philippines Most Valuable Player said he was close to giving up tennis because of the quarantine.

Young footballer Luna dies

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HE sports community mourns the death of young standout, Celestina Beatrice Luna, who succumbed to arteriovenous malformation (AVM) on Tuesday. She was 16.

Born in Baguio City, the national girls’ team member fell into a coma on Monday before ultimately losing the battle.

“She’s just too young,” Girls’ Under-16 Head Coach Rachelle de los Reyes said. “This is painful. I can’t believe this happened.”

AVM is an abnormal tangle of blood vessels connecting arteries and veins, which disrupts normal blood flow and oxygen circulation.

TENNIS AGAIN

“To be honest, it’s been tough,” Lim said.

A week before the enhanced community quarantine was imposed in the country, Lim and his national teammates—Jeson Patrombon, Francis Casey Alcantara and Ruben Gonzales—slammed into a brick wall of a Greek side in the World Group II Davis Cup tie at the Philippine Columbian Association’s Plaza Dilao courts in Paco, Manila.

Lim had the luxury—or the gargantuan task—of facing World No. 6 Stefanos Tsitsipas in the opening singles. He absorbed a 2-6, 1-6 beating at the hands of the rising world star who only recently before the duel with the Filipinos engaged—but lost—world No. 1 Novak Djokovic in an exciting Dubai Championship final.

AJ LIM could now hit the courts and do what he does best.

A defender for the youth team, Luna was instrumental when the Young Malditas, how the national girls team members are called, finished fourth in the Asean Football Federation U-15 Championship last year in Chonburi, Thailand.

She scored a long goal in the squad’s 12-0 shutout of Timor-Leste.

The Philippine Football Federation (PFF) also paid its sympathies to Luna’s family.

“The PFF, its officials and staff, join the entire Philippine football community in mourning the loss of Luna. The PFF requests the football community to pray for the eternal repose of her soul,” the PFF said.

A LABORATORY technician prepares samples of urine for doping tests during a media open day at the King’s College Drug Control Centre in London. AP

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dreams—and perhaps their only chance at a medal. A two-time world champion in karate, 39-year-old Antonio Díaz-year-old delayed retirement for a crack at the Tokyo Games, which will include karate as a one-time added sport. It’s not usually part of the Olympic program.

Díaz had to shut down the commercial dojo he owns.

He trained at the vacant dojo for a while, but the country’s gasoline shortage has led him to do more practice at home—where he can be with his wife and child, who was born in August.

“It’s allowed me to be with my baby all day,” Díaz said.

Andrés Madera, a gold medalist at the Pan American Games in Lima, Peru, last year, is also shooting for a spot on the karate team in Tokyo.

“It will be the first and perhaps the last time” karate will be on the program,” said Madera, who manages to give some classes by video link over the internet.

“We all want to be in Tokyo. It’s a dream come true.“ AP

Venezuelan Olympic medalist Stefany Hernandez, a BMX cyclist, wears a face mask while training in Caracas. AP

feet (8.65 meters).

In a typical year, Guinness receives about 47,000 record inquiries from 178 countries. Of those, around 8,000 are approved.

David Rush of Boise, Idaho, recently became the record holder through the online challenge in the category of “fastest to put on 10 T-Shirts.” His winning time was 15.61 seconds. He practiced so much he bruised his wrist from knocking it against his head.

Rush is no stranger to world records. He already holds many marks, including most juggling catches on a unicycle while blindfolded (30), longest duration balancing a bicycle on his chin (6 minutes, 1.07 seconds) and most baseball bat spins in a minute (94).

“I loved watching the specials on TV and thumbing through the book occasionally,” said Rush, who’s a senior product manager at a technology company. “I was fascinated by it and would be like, ’Hey, I wish I could do that.’”

Jed Hockin is renowned for his soccer skills and trick-shot artistry. Last month, he set a record by juggling a roll of toilet paper with his foot as part of an online challenge. This was his fourth Guinness record.

Next on his radar: Most soccer (football) touches in an hour. The mark stands at 11,901.

“I am looking to break heaps more Guinness World Records,” Hockin wrote in an email from Toowoomba, Australia.

Then there’s Saini, who proved lightning quick while putting on 10 different socks as he sat on the floor in his home in India. His strategy: Have fun with it.

“Amazing in the sense that it was not thought even in the dreams that on one fine morning I will be having such a prestigious title for exercising [a] tiny effort,” Saini wrote in an e-mail.

His burst of speed with socks made him appreciate the quickness of Bolt all the more.

The iconic sprinter from Jamaica lowered his 100 time to 9.58 at the 2009 world championships.

“We can’t imagine the all-out effort made by him,” Saini wrote.

Since the Covid-19 outbreak, Guinness officials have noticed more record attempts from homes and gardens. They’ve received applications for records ranging from “most sticky notes stuck on the body in 30 seconds” to “tallest cotton plant” to “most jumping jacks in one minute.”

Fernandez is among the Guinness records managers tasked with authenticating world marks.

Last fall, she attended record attempts by the Harlem Globetrotters. The legendary exhibition basketball squad set six marks that day, including farthest behind-the-back shot and most bounced basketball figure-eight maneuvers blindfolded in one minute.

These days, records are corroborated online.

“We’re just adapting (record breaking) to this time,” Fernandez explained. “We want to keep people engaged and having fun because being inside can be a little boring.”

Wada looks to artificial intelligence to catch dopers

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Olympic dreams persists in Venezuela ARACAS, Venezuela—Stefany Hernández zips on her bike across a vast, empty boulevard in Venezuela’s capital, getting in training where she can find it.

A 2015 world champion bike motocross racer, she’s trying to prepare for the Tokyo Olympics, now delayed until next year, while coping with restrictions imposed due to the coronavirus pandemic. The BMX paths are all closed, so the largely vacant streets will have to do.

To get at least a glimpse of the mountains, she wrestles her bike through a window onto a flat rooftop and practices maneuvers there.

The delayed competition has one benefit: helping her recover from a foot injury. A personal trainer comes to her duplex to help with treatments that relax some of her muscles and build elasticity and strength in others.

Hernández, 28, has already been to two Olympics, winning bronze at Brazil in 2016.

Elsewhere in Caracas, other athletes have Olympic

The Greeks went on to dominate the tie, giving Lim and company an enriching experience.

Lim stayed fit by doing indoor exercises in the early weeks of the lockdown. But the fun turned into agonizing moments as the courts beckon the player who honed at the L’Academie de Tennis in Florida, US. “I was still working out and doing every day fitness stuff but then the second month it got boring so I started resting my body and mind to refresh,” Lim said. “Then the mental agony set in.”

With the Rizal Memorial Tennis Center which was refurbished to championship luster for last December’s 30th Southeast Asian Games still off limits because the complex is serving as a quarantine center, Lim looks toward the Dapitan Tennis Club courts as alternative.

“I’m hungry to get back to the court,” he said.

SAIN BOLT ran the 100 meters in 9.58 seconds. Dr. Vikas Saini recently put on 10 socks in an official time of 9.23.

Both have the same title—world record holder.

From sock feats to fancy footwork using rolls of toilet paper, records are still being set even with many sports on hold due to the coronavirus pandemic. Guinness World Records receives about 1,000 applications each month from would-be record breakers throughout North America.

The company has long been known as the keeper of accomplishments ranging from the fascinating (longest fingernails) to the far-out ( most body piercings ) and of course the “give-it-a-whirl” possibilities (walking on hands, anyone?).

But their recent online challenges have been soaring in popularity with many sheltering at home. Wind up as the top leapfrogger, pyramid can-stacker or one-handed, crisscross LEGO builder and, if adjudicated, earn the label: “Guinness World Records title holder.”

“We’re inside, but we still want to be able to inspire creativity, lift people’s spirits and just continue to provide an outlet for people to learn about and explore world records,” records manager Chrissy Fernandez said.

The online challenges are designed to be performed with minimal equipment and in a way to adhere to stay-at-home mandates. There are also kid-friendly contests.

As for the book, who didn’t scroll through the pages growing up in search of records to possibly attempt? The Guinness database contains more than 50,000 unique marks. A sampling: n The fastest hole of golf by an individual is listed at one minute and 29.62 seconds. n The quickest time to run the 100-meter hurdles while wearing swim fins is 14.82 seconds for a male and 18.523 for a female. n The most basketball bounces in one minute: 656 (using two basketballs).

The notion of collecting intriguing records was put in motion by Sir Hugh Beaver in the 1950s when he was managing director of Guinness Brewery. As the story goes: He was attending a shooting party in Ireland when he and his companions began to squabble over Europe’s fastest game bird. There was no quick way to solve the dispute.

He asked twins Norris and Ross McWhirter, who were fact-finding researchers, to compile a record book featuring topics that would help solve bar debates.

The first volume was published in 1955 and by 1964 a million copies had been sold. Later, a TV series was added.

Guinness also features a Hall of Fame.

Among the inductees was Robert Wadlow, the world’s tallest man who was measured at 8 feet and 11.1 inches (2.72 meters) in 1940.

Another Hall of Famer is Lee Redmond, whose fingernails famously measured more than 28

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ÜSSELDORF, Germany—With sports around the world shut down by the coronavirus pandemic, the World Anti-Doping Agency (Wada) is looking to artificial intelligence as a new way to detect athletes who cheat.

Wada is funding four projects in Canada and Germany, looking at whether AI could spot signs of drug use which might elude even experienced human investigators. It’s also grappling with the ethical issues around the technology.

Athletes won’t be suspended solely on the word of a machine. Instead, AI is a tool to flag up suspect athletes and make sure they get tested.

“When you are working for an anti-doping organization and you want to target some athletes, you look at their competition calendar and you look at their whereabouts, you look at the previous results and so forth,”Wada senior executive director Olivier Rabin told The Associated Press in a recent interview. “But there is (only) so much a brain can process in terms of information.”

The pandemic has shut down anti-doping testing in many countries, but it’s pushed AI work to the fore, since much research can be done remotely.

Analyzing an athlete’s blood or urine sample is about more than just finding a performanceenhancing substance. Tests also track numerous biomarkers like an athlete’s red blood cell count or testosterone levels.

That kind of information is already used by anti-doping bodies in the “biological passport” program to detect the effects of using something like the blood-booster EPO, the substance used

by Lance Armstrong.

Wada hopes AI can help improve that system by tracking patterns between those markers and cross-referencing them with other information.

One of Wada’s projects aims to make EPO detection more precise and another hopes to do the same for steroids.

Machine learning systems can be taught by showing them confirmed “dirty” and “clean” profiles to detect similarities which may not be visible on the surface.

There’s also what Rabin calls a “global” project in Montreal which could predict the risk of doping by evaluating data from a wider range of sources, possibly including the information athletes are required to file about their whereabouts. Athletes’ personal data and even the names of the cities where they live and train will be anonymized because of privacy concerns.

“It’s been fairly complex discussions...to try to find a balance between, you know, again, protecting data, protecting individuals and making sure that you can still reveal the potential of AI, if there is any,” Rabin said.

Athletes’ results in competition aren’t yet part of the mix. “Maybe in the future but not for now,” Rabin said.

AI can be an expensive area of science, with specialists in high demand. Three projects in Canada cost Wada about $425,000 over two years, with matching funding from the province of Quebec’s research funds, and there’s another $60,000 for the EPO project in Germany, Wada said. AP

B6 Thursday, May 28, 2020

TMP restarts plant production as more Toyota dealerships resume operations nationwide

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FTER temporarily halting production to comply with the quarantine guidelines set by the government, leading automotive manufacturer Toyota Motor Philippines (TMP) has resumed operations in its Santa Rosa, Laguna plant beginning May 18, 2020. TMP understands that restarting business as soon as possible would stimulate economic activities in the country.

Prior to resumption of plant operations, precautionary measures were conducted in the plant to ensure safety and adherence

to production protocols. All reporting Team Members have been briefed on the safety guidelines and measures that will be strictly followed in the plant. The overall workforce currently reporting on singleshift operation is within the 50% cap mandated by the government under MECQ guidelines.

With the resumption of plant operations and as more areas in the country ease into more relaxed community quarantine guidelines, Toyota will be able to respond better to the needs

of its customers. As of May 20, 2020, 66 out of the 70 Toyota dealer outlets nationwide have resumed operations with safety and sanitation guidelines also in place. Due to social distancing measures implemented within the showroom, customers are encouraged to set an appointment before visiting their nearest dealers. The TMP dealers’ directory can be accessed at https:// toyota.com.ph/dealer.

Aside from reopening of dealerships, services have also resumed in the following service centers as of May 20, 2020: Toyota Alabang Service Center, Toyota Shaw Service Center, Toyota North EDSA Service Center, Toyota Davao Body and Paint Center, Toyota Negros Occidental Service Center.

For more information about Toyota’s operations and for other customer references for car services, care and management, visit TMP’s support hub at https://toyota.com.ph/hereforyou. For more Toyota updates, visit www.toyota. com.ph or check out Toyota’s official social media pages at ToyotaMotorPhilippines (Facebook and Instagram), and @ ToyotaMotorPH (Twitter).

First-time bangus harvest during ECQ in a mining community

SM FOUNDATION DONATES COVID-19 TEST KITS TO THE CITY OF ANTIPOLO. Antipolo Mayor Andrea Ynares, Atty. Cedrick Capiral, City Legal Officer and Dr. Concepcion Lat, City Health Officer, receive the donation of COVID-19 test kits from SM Foundation, turned over by SM Supermalls’ Johanna Rupisan and Dennis Martel. The 200 test kits worth close to PHP5M, is good for 2,400 tests and is in support of wider access to testing. This forms part of SM Foundation’s donation efforts of over P270M for hospitals and local governments to support the country’s fight against COVID-19. #SMCares

Philhealth releases official statement on Interim Reimbursement Mechanism

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HE Interim Reimbursement Mechanism or IRM is an emergency cash advance measure applied by PhilHealth to provide hospitals with an emergency fund to respond to unanticipated events like natural disaster and calamities.

When the Covid-19 global pandemic was declared in February 2020, and drawing from the modeling forecast available at the time, PhilHealth prepared an IRM response equivalent to 90 days of annual historical benefit claims to be made available to all health care institutions nationwide including dialysis centers and lying in clinics. This requirement was estimated to be P30 Billion.

Since the emergence of the first locally transmitted Covid-19 cases in February, the following pattern has emerged that will require PhilHealth to recalibrate its IRM response: The disease is concentrated only in high population density areas like the NCR and Regions 3, 4, 7 and 11. Many areas exhibit low or Covid-19-free incidence. PhilHealth’s strategy is to provide IRM to all referral hospitals and laboratories in all provinces.

This has already been achieved.

Government’s anti-Covid 19 strategy will entail mass testing and subsequent quarantine of confirmed individuals. This will require funding which will fall on PhilHealth.

Financial sustainability of the antiCovid-19 response. With still no vaccine in sight PhilHealth will take the prudent path to ensure that sufficient funds continue to be available to protect all citizens from the severe impact of the pandemic.

To date PhilHealth has released a total of P13.8 Billion to 599 health care institutions nationwide, P7.3 Billion or 53% of which was released to private institutions. Of this, almost P4 Billion or 29.7% was released to NCR, the ground zero of Covid-19.

PhilHealth will now scale down its IRM release and preserve its funds for the anticipated mass testing required by the national anti-Covid 19 strategy. Further releases will be selective and following above mentioned considerations.

Mabuhay ang PhilHealth! Mabuhay ang Pilipinas!

(Sgd.)BGen. RICARDO C. MORALES, AFP (RET.) FICD President and CEO

AXA Philippines opens select service centers nationwide

Barangay Captain Reden Plaza received newly harvested bangus from Lilibeth Becera, president of United Fisherfolk Association of Sitio Bagong Silang.

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BANGUS farming project sponsored

by Hinatuan Mining Corp. (HMC), a subsidiary of Nickel Asia Corp.

(NAC), in Sitio Bagong Silang, Tagana-an, Surigao del Norte, yielded more than 1700 kilos of bangus in its first harvest ever, which happened during quarantine.

“This is a big achievement for us small fisherfolk, because the lockdown has limited our movements in the community and the bangus helped many of us during this quarantine,” said Lilibeth G. Becera, President of the United Fisherfolk Association of Bagong Silang (UFAOBS) in the Municipality of Tagana-An. According to reports, the Philippine Statistics Authority (PSA) has records showing that the country’s municipal fisheries subsector has been experiencing a steady decline in production due to a host of reasons including oil price hike.

The Community Relations team (ComRel) of HMC, under the leadership of

its Resident Mine Manager, Engr. Francisco J. Arañes, Jr., started working with the leadership of UFAOBS and its 90-strong membership in April of last year to address the issues of fishery and livelihood in the mining communities and decided to fund the bangus project which was officially launched on January 2020.

“It is a showcase of an ideal team effort in a responsible mining community – the Bureau of Fisheries and Aquatic Resources or the BFAR, the Mines and Geosciences Bureau or the MGB, and the dedication and hard work of the members of UFAOBS. We are all proud and thankful for the success of this bangus project,” shares Arañes.

According to HMC’s Community Organizer, Allan O. Bandoy, Jr., the actual harvest is 1,734 kilos. HMC bought the first harvest from UFAOBS for P140 per kilo and gave 2 kilos of bangus to each of the households in the mining community as part of the company’s relief efforts

during the quarantine period caused by the threats of COVID-19.

The project took almost all of last year to finalize with all the required permits to be accomplished and the documenting of all the details of the feasibility study that the members of UFABOS studied with commitment.

“The timing could not be more perfect, we didn’t know last year that COVID-19 will hit and that community quarantine will restrict the movements of our fisherfolk and everyone in the community so we are glad we started this project when we did,” explained Antonio “Jay-R” Resuera, Jr., HMC ComRel Manager.

“Going forward, all the income in future harvests will be split into two, one half will be divided among the members of UFAOBS and the other half will be put back to the coffer of the people’s organization so their business will grow bigger,” added Resuera.

Food Taipei series 2020 rescheduled in December

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AIPEI - Due to the novel coronavirus (COVID-19) pandemic, TAITRA, TFPMA, TPA and Chan Chao International, organizers of the Food Taipei series, announced that the trade show has been rescheduled to December 17-20, 2020 at Taipei Nangang Exhibition Center, Halls 1 and 2 (TaiNEX 1&2).

This decision was made in consideration of the health and safety of exhibitors and visitors, and to ensure the event’s brand image and reputation is maintained.

The Food Taipei series is composed of six concurrently-held trade shows: Food Taipei, FoodTech Taipei, Bio/ Pharmatech

Taiwan, Taipei Pack, Taiwan Horeca and Halal Taiwan. Altogether, the six shows represent the complete supply chain of Taiwan’s food industry, characterized by high quality, reliability, and innovation. Aside from gathering renowned Taiwanese exhibitors, Food Taipei also features international participants and national pavilions with its impressive display of unique and diverse products that will surely impress its visitors.

Through its 63 overseas branch offices, TAITRA will invite more global buyers to attend the Food Taipei series in December, such as Japan, Korea, plus countries in ASEAN, the Middle East and Africa. TAITRA

will also organize online exhibitions on the Taiwan Trade website and invite global buyers to participate in online procurement meetings.

International visitors are also welcome to apply for incentive programs to assist them in attending events. Interested buyers can contact the nearest TAITRA branch at https:// www.taiwantrade.com/mp/Taitra-Office.

As international food shows in the first half of 2020 have all been cancelled or postponed to a later date, purchasing demand is expected to be restored by December with the food industry ready to embrace the energy and seize new business opportunities at the rescheduled Food Taipei series.

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XA Philippines has announced the opening of select service centers within Metro Manila and in other parts of the country to assist customers with various insurance policy-related transactions. These branches are open to customers Monday to Friday, from 10 am to 3 pm by appointment.

Open service centers that cater to both AXA general and life insurance products in Metro Manila are Alabang, Binondo, Caloocan, and Makati. Service centers that cater exclusively to life insurance products include Eastwood, Ortigas Suntree, Pasig, and Quezon Avenue. The AXA service center in Cubao, Quezon City is exclusively for general insurance payments and concerns.

In Luzon, open branches include Baguio Clemente; Bulacan; Cabanatuan; Dagupan; Naga; San Fernando, Pampanga; Santiago, Isabela; and Tarlac. Customers with life insurance policies only may go to any of these branches: Baguio North Drive, Imus, Cavite; Daet (satellite); La Union (office and satellite); Laoag; Lipa, Batangas; Olongapo; Urdaneta; and Vigan (satellite). On the other hand, customers with general insurance policies only may proceed to any of the following centers: Batangas; Calamba; Cauayan (satellite); and Dasmariñas, Cavite.

In Visayas, life insurance policyholders can visit the following branches: Cebu Escario, Cebu Business Park, Palawan,

Tacloban, Tagbilaran, Catarman, Iloilo, and Bacolod. Iloilo and Bacolod service centers can also assist with general insurance policies. In Mindanao, service centers are open in Pagadian, Cagayan De Oro, General Santos, Davao, and Zamboanga.

Zamboanga and Pagadian branches cater to life insurance policies only.

A full list of open branches is available here: https://www.axa.com.ph/multimedia/ articles/beginning-april-27-select-metromanila-branches-will. We will be opening other branches as the enhanced community quarantine eases.

Health and safety are of utmost priority for AXA Philippines. To make our branches a safer place for our customers, complete safety measures are being undertaken regularly. Temperatures are taken before entry, and wearing of masks and observing social distancing are highly encouraged.

For customers who prefer to pay in the comforts of their own homes during the modified enhanced community quarantine, they have the option to pay online via https:// click.axa.com.ph/onlinepayment2/index.aspx.

For updates on the open branches, follow them on Facebook (https://www. facebook.com/AXA.Philippines/) and Instagram (https://www.instagram.com/ axa.philippines/).You may also call AXA Philippines’ hotline (+632) 8 5815-292, (+63) 917 1709292 (Globe), and (+63) 998 5889292 (Smart).