BusinessMirror November 12, 2020

STORM clouds hover on Wednesday over Metro Manila, placed under Storm Signal No. 3 as Typhoon Ulysses heads toward Quezon and Aurora. This, just days after strong typhoons struck the country in quick succession, battering Central Luzon, Calabarzon, Mimaropa, Bicol Region and Eastern Visayas, causing heavy losses to agriculture and damage to infrastructure and thousands of homes. NONIE REYES

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Thursday, November 12, 2020 Vol. 16 No. 35

BSP: Aug FDI inflows up again, hit $637M

By Elijah Felice Rosales

E

XPECT no free-trade agreement (FTA) between the Philippines and the United States under the Biden administration.

Trade experts and diplomats interviewed by the BusinessMirror said hopes for an FTA between the Philippines and the US should be tempered in the election of Joseph R. Biden as president. Scores of issues, from the Covid-19 pandemic to human-rights dispute, may prevent the Asia-Pacific allies from forging a trade deal.

Michael M. Michalak, senior vice president and regional managing director for the US-Asean Business Council, said domestic problems will prevent Biden’s trade officials from engaging in negotiations in the early stages of his presidency.

“Biden will be preoccupied with domestic issues for the first several months, if not longer,” he said in an e-mail. “Nevertheless, he will not be able to ignore trade so [he] will come up with a policy that, hopefully, will arrive at something, like rejoining the CPTPP or another, perhaps new grouping that would be similar.”

Upon taking oath in office, President Donald J. Trump withdrew the US from the CPTPP, or the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Without the US, the CPTPP signatories are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Combined, the 11 parties to the trade deal represent around 495 million consumers and 13.5 percent of global GDP.

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By Bianca Cuaresma

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WORKERS install a giant Christmas tree at the grounds of the Bonifacio Shrine beside Manila City Hall on Wednesday. ROY DOMINGO

‘BETTER CONSUMER CONFIDENCE CAN BOOST PHL IN FOURTH QTR’

By Tyrone Jasper C. Piad

T

O minimize an economic downturn in the last quarter, consumer confidence should be revived to boost household consumption, an economist said.

Bank of the Philippine Islands (BPI) Lead Economist Emilio Neri Jr. said in a statement on Wednesday that better consumer spending can prop up the economy.

“Given the behavior of the leading indicators that we’re monitoring, it’s possible for the economy to minimize its contraction in [fourth quarter],” Neri said. “The main challenge is restoring consumer confidence; all the other components of the economy will recover if there is an improvement in consumer spending.”

The economist noted that consumer confidence remained weak in the third quarter as household consumption contracted by 9.3 percent for the period. In the first nine months, consumer spending slipped by 8.2 percent, a reversal of the 5.9-percent growth last year.

Neri said that many Filipinos are still staying at home, avoiding the possibility of getting infected with the coronavirus. Citing Google’s mobility report, he noted that the movement or activity in retail and recreation locations is still 46 percent lower compared to where it was at the beginning of 2020.

“The lack of foot traffic in malls and other public areas continues to

See “Consumer,” A2

HILE short-term prospects for the Philippines remain weak, it looks like foreign investors are betting on the country’s long-term gains.

This is as foreign direct investments (FDIs) to the country grew for the fourth consecutive time in August despite the pandemic-related disruptions in the country.

The Bangko Sentral ng Pilipinas (BSP) reported on Wednesday that FDI to the Philippines hit $637 million in August, up 46.9 percent from the total FDIs that came into the country in August last year at $434 million.

“The FDI net inflows increased for the fourth consecutive month, owing to investors’ renewed confidence as the national government’s fiscal stimulus and BSP’s accommodative monetary policy stance to mitigate the impact of Covid-19 pandemic gained traction along with the easing of quarantine measures in the country,” the BSP said in a statement.

FDIs are investments that are made by foreign players to the Philippines in the hopes of long-term return. Since these are in the country for a longer-term compared to their short-term counterpart, the foreign portfolio investments (FPIs), FDIs usually create jobs for Filipinos and have a multiplier effect on the economy.

Aside from a strong growth momentum, the FDIs also sharply contrast with the decline of FPIs to the country.

FPIs are known as “hot” or “speculative” money because they are easily pulled in and out of the local platforms in the slight change of global and local sentiment.

Latest BSP data showed that FPIs resulted in a $4.4-billion net outflow in the first nine months of the year. This is a 238-percent increase from last year’s net outflow of $1.3 billion.

The growth in the long-term foreign investments in August was largely attributed to the 72.2-percent growth in net investments in debt instruments, which amounted to $459 million in August 2020 from $267 million in the comparable month last year.

Continued on A2

PESO EXCHANGE RATES n US 48.2370

n JAPAN 0.4582 n UK 64.0346 n HK 6.2209 n CHINA 7.2910 n SINGAPORE 35.7841 n AUSTRALIA 35.1358 n EU 57.0017 n SAUDI ARABIA 12.8618

See “FDI,” A2

Source: BSP (November 11, 2020)

News BusinessMirror

A2 Thursday, November 12, 2020

Consumer…

Continued from A1

dampen the demand for goods and services that involve human contact,” Neri said.

“Furthermore, the decline in household income amid the pandemic has forced consumers to tighten their belts.”

Only the essentials such as food, utilities and communication services saw an uptick during the quarter. Meanwhile, spending on recreation, restaurants and hotels dropped by 50 percent on average.

On the other hand, the BPI economist noted that consumer spending still improved in the third quarter compared to the previous one when it contracted by 15.3 percent.

“The transition of businesses to ecommerce and the widespread use of delivery services have contributed to this improvement,” Neri explained.

Still, Neri stressed that as long as there is no vaccine, the Philippines will find it challenging to build up consumer confidence again.

“It’s difficult to restore consumer confidence to prepandemic levels without a vaccine, but we can improve it through technology. Fast-tracking the development of the country’s digital infrastructure will help businesses and consumers adjust to the current situation,” he added.

According to a survey by the Bangko Sentral ng Pilipinas (BSP), consumer confidence turned pessimistic in the second half of the year mainly due to the coronavirus pandemic.

Overall confidence index dropped to -54.5 percent in the third quarter, the lowest since the first-quarter survey in 2007.

For the fourth quarter, the consumer confidence index is at -4.1 percent.

Apart from the pandemic-related concerns, the respondents also cited high unemployment rate, reduced income and inflation for their outlook.

Meanwhile, the BSP survey showed that consumers were more optimistic for the next 12 months as the index climbed to 25.5 percent for the said period. Respondents are expecting more job opportunities, additional or high income and stable prices of goods.

FDI…

Continued from A1

Net investments in debt instruments consist mainly of intercompany borrowing/lending between foreign direct investors and their subsidiaries/affiliates in the Philippines.

Net equity capital investments also rose strongly, by 32.9 percent to $107 million during the review period from $81 million a year ago. Bulk of the equity capital placements during the month originated from investors in Japan, the United States, and the British Virgin Islands. These were invested mainly in the manufacturing, real estate, financial and insurance, and professional, scientific, and technical industries.

The positive development in the country’s FDI numbers in August brings the Philippines nearer to closing the gap between the FDI inflows this year from the level of FDI inflows last year.

On average in the first eight months of the year, the total level of FDIs are still 5.6 percent lower at $4.4 billion compared to the $4.7 billion last year.

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Duterte extends by 6 mos suspension of VFA’s end

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By Recto L. Mercene

RESIDENT Duterte has extended the suspension of the abrogation of the Visiting Forces Agreement (VFA) for another six months, according to Foreign Affairs Secretary Teodoro Locsin Jr.

“My President, Rodrigo Roa Duterte, has instructed me to convey, with the appropriate formality, his decision to extend the suspension of the abrogation of the Visiting Forces Agreement by yet another six months,” Locsin said in a video statement at the Mabini Hall of the Department of Foreign Affairs (DFA) on Wednesday.

The decision to extend the military pact’s suspension by an additional six months came on the heels of Democratic candidate Joe Biden’s election.

The suspension of the termination of the VFA for another six months amounts to a full year.

Locsin first announced the suspension of the abrogation on June 2, 2020, meaning, the abrogation should have taken effect on December 1, 2020.

“Should the suspension not be extended after the first six months, it will take effect 69 days after December 1, 2020. Should the Philippines extend the suspension for another 6 months, the VFA termination will take effect 69 days after 1 June 2021,” the DFA said in a statement.

“We continue to discuss with our US counterparts the best options and way forward to strengthen Philippines-US defense and security cooperation,” the statement added.

Locsin said a second extension of the suspension of VFA’s termination process will allow officials in Manila and Washington “to find a more enhanced, mutually beneficial, mutually agreeable, and more effective and lasting arrangement on how to move forward in our mu-

Government must build typhoonresistant homes–Co

A

LAWMAKER from the Bicol Region, part of the country’s so-called “typhoon belt”, is urging the government to build

storm-resistant homes for Filipinos living in the country’s eastern seaboard and other floodprone areas.

Ako Bicol party-list Rep. Elizaldy S. Co said

that since the Philippines is visited by an average of 20 tropical cyclones a year, the government should seriously consider building stronger homes for the most vulnerable Filipinos.

“Instead of using public schools as evacua-

tion centers, moving people out of harm’s way during every storm, and eventually spending public

FOREIGN Affairs Secretary Teodoro Locsin Jr. AP

tual defense.”

Locsin said extending the VFA assures the security provided by the military deal in the South China Sea. “Long live Philippine-US friendship and alliance,” Locsin said in a statement addressed to White House National Security Adviser Robert O’Brien.

President Duterte initially scrapped the VFA on February 11, 2020, but decided to extend it for six months, from June 2 until the end of the year, after China continued its aggressive behavior in the contested waters even as the Covid-19 pandemic was on a rampage, forcing all nations to devote attention and resources to defeating the virus.

Locsin addressed his statement to O’Brien, who said a diplo-

funds to help repair damaged homes, we should

matic note about the extension was sent to the US. Locsin, who earlier warned of the far-reaching consequences associated with the VFA termination, said the further extension of the VFA provided more security in the volatile waterway.

After the Philippines announced its first extension of the VFA, Locsin said the “protagonists” in the South China Sea welcomed the stability brought by the move.

“A great deal of credit for the renewal of stability and security goes to deft diplomacy, unequivocal expressions of policy, sturdy postures of strength combined with unfailing tact, and pragmatic national security advice exhibited by both our governments in the same period,” he said.

consider more permanent solutions,” he said.

Co proposed that government set up a five-

year Core Shelter Assistance (CSA) program which, technically, is a Disaster Resilience Program. This can be done by providing shelters made of slabs with concrete hollow block walls with corresponding windows and doors. To minimize costs, he said these concrete houses will just be roughly finished.

stand

“The structure must be designed to witheven

380-kilometer-per-hour

winds.

Per my estimate, each house will cost around P120,000 to P150,000 which the national government shall provide. The land will be identified and donated by the respective local government units because they know the terrain where these shelters can be safely built,” he explained.

He said main beneficiaries of the CSA

program should be the 4P beneficiaries whose homes are located near the eastern seaboard of the Philippines and/or along frequently flooded riverbanks. “Government, through DSWD [Department of Social Welfare and Development], has the official list and addresses of these 4P beneficiaries living in high-risk areas. Thus, identifying those we should prioritize is not a big

Fitch unit tweaks downward its PHL growth projections

By Bianca Cuaresma

F

ITCH Solutions revised its projection of the Philippine economy’s recovery downward, as the country continues to struggle with containing the number of infected cases, thereby dampening the plans of a fully reopened economy.

In a statement on Wednesday, Fitch Solutions—the research arm of the Fitch Group— said it believes the country “will struggle to maintain its recovery momentum in the fourth quarter of 2020 as domestic containment measures weigh on activity and demand.”

It revised its forecast of the Philippine economy’s performance to a 9.6-percent contraction for this year, coming from the

earlier 9.1-percent projection.

Just this week, the Philippine Statistics Authority (PSA) announced the Philippine gross domestic product (GDP) contracted 11.5 percent in the third quarter of the year, indicating a slower-than-expected path of recovery in the coming years.

The Philippines’s second-quarter GDP contracted by 16.9 percent.

“The Philippine economy will face a deeper contraction than we had previously expected in 2020.… The economy has been devastated by the Covid-19 pandemic, which has hurt external demand and resulted in domestic lockdowns and restrictions on mobility. In particular, curbs on domestic activity to suppress the spread of the virus have severely dragged on the Philippine

economy, in which private consumption and investment account for around 100 percent of output,” Fitch Solutions said.

The global think tank also expressed worries about the load of new Covid-19 cases in the country—which is still rising by the thousands daily.

“While in November new daily cases are gradually falling from their peak in August, at around 2,000 reported cases a day the risks from another surge in cases, if domestic prevention measures are relaxed further, remain high. We expect this to hinder the pace of the economic recovery in the fourth quarter of 2020 and the first half of 2021 and note downside risks from a resurgence in cases,” Fitch Solutions said.

Rebound expected

FITCH Solutions also said despite the bleak 2020 Philippine GDP numbers, the economy is expected to get back on its feet next year and will continue to grow strongly up until 2022.

“We anticipate that the Philippine economy will expand by 7.6 percent in 2021, up from a prior forecast of 6.2 percent, due to base effects and an expectation for a government-led infrastructure drive,” Fitch Solutions said.

“While expectations for the fourth quarter of 2020 remain subdued, both consumers and businesses remain optimistic about the outlook for the following 12 months, indicating potential pentup demand which could propel growth as the pandemic-related uncertainty abates,” it added.

problem,” he added.

“The CSA program ensures that benefi-

ciaries’ homes shall not be destroyed by strong typhoons. At the same time, it will prevent frequent government expenses to restore or repair destroyed houses of the poorest of the poor located in the typhoon belt,” the solon said.

As to source of funds, Co said the govern-

ment is already spending billions to evacuate, feed, provide temporary shelter and repair damaged homes of the poor. “It’s a never-ending cycle.

Government spends to provide aid, only for these evacuees to return to their high-risk abode. It’s time we changed that,” he said.

Currently, he said the DSWD spends at

least P5,000 in assistance to typhoon victims whose homes were completely destroyed.

Those with partial damage receive P3,000 each.

Recognizing that people choose to return

near the sea due to their livelihood like fishing, Co proposed that government provide safe parking areas for fishing boats.

“Livelihood and lack of alternatives are the

most common reason why people don’t want or choose not to relocate. We hope to change that through my proposal. Let’s give them safe and decent shelter while providing a secure area where they can leave their boats during typhoons,” he stressed.

Experts rule out PHL, US free-trade accord Continued from A1

The American Chamber of Commerce of the Philippines (AmCham) also declared pessimism on the prospect of negotiating an FTA under Biden.

AmCham Senior Advisor John D. Forbes explained that Americans oppose their country’s entry in any and new trade deals, especially in the heat of the pandemic.

The contagion took away the jobs of millions of Americans; it would be an “unpopular” policy then to outsource labor.

“Although AmCham has long supported a bilateral FTA between the US and the Philippines, we do not think it will happen soon,” Forbes stated.

In October the unemployment rate in the US ballooned to 6.9 percent, from 3.6 percent during the same month last year, and this translated to about 11.1 million jobless Americans. Further, the US shows no signs of containing the spread of the virus, as it tops the world on Covid-19 figures with more than 10.2 million cases and roughly 240,000

deaths as of Wednesday.

International conventions

FORMER Tariff Commissioner George N. Manzano raised the possibility the US under Biden may start demanding the Philippines’s compliance with conventions on human rights and labor welfare to retain its Generalized System of Preferences (GSP) status.

However, he said this focus on human rights could be tempered

by Washington’s economic and security interests in the region, particularly with the rise of China.

Michalak, for his part, pointed out Biden, as a Democrat, will do what Trump did not in his four-year term: ask trading partners to abide by international protocols to keep their GSP status.

“Regarding human rights, I think Biden will pay more attention to those issues than Trump, but he is also going to pay more attention to allies and partners; how he balances those priorities will have to wait for a bit as he assembles his team,” Michalak said.

In February, six Democratic

senators appealed before the Office of the US Trade Representative (USTR) to suspend the Philippine GSP over President Duterte’s human-rights record. They said granting the trade privilege in the face of extrajudicial killings under Duterte could be mistaken for condoning the bloodshed.

The GSP allows Manila to export a total of 5,057 products, or nearly half of the 10,600 US tariff lines, to Washington at zero or reduced tariffs.

Forbes gave his word that American investors here will block any proposals in their home country to sanction the Philippines. He called on policymakers from both parties to negotiate their issues and reach a compromise.

“AmCham will not support any proposals to sanction the Philippines as a country,” he said.

“Legislators that propose drastic actions in the Congresses of both countries are often making their proposals because of their domestic constituencies,” Forbes added. “Hopefully, they can take a broader view of the strong bilateral relations the two countries share.”

If there’s one thing the Philippines is sure to benefit from Biden’s election, it’s when he reverses Trump’s policies against China and stops the trade conflict once and for all.

Forbes and Manzano explained that the Philippines failed to net multinationals who fled China after Trump multiplied taxes on Chinese imports, mostly on farm and manufactured products. Since Trump took office in 2017, the US has increased the tariffs of up to 30 percent on $550 billion worth of Chinese goods.

“If Chinese exports to the US containing Philippine-made components increase, then there will be more jobs in the Philippines,” Forbes concluded.

“Ceasing the trade war will diminish country risks in Southeast Asia. Improved US-China trade would mean improved exports for the Philippines, as the country is part of the Chinese supply chain, especially for electronic products,” Manzano said.

Bilateral trade

BASED on records from the USTR,

merchandise trade between Manila and Washington reached $21.4 billion last year. Shipments to the US totaled $12.8 billion, while imports amounted $8.6 billion. As such, the Philippines maintained a goods surplus of at least $4 billion.

Capital inflows painted a different picture, however. Last year investments from the US dipped by close to 9 percent to P11.72 billion, from P12.85 billion in 2018, according to data from the Philippine Statistics Authority.

In 2017 Duterte conveyed to Trump in a bilateral meeting his desire to arrange an FTA with the US, to which the White House leader committed to study.

The Philippines has been seeking to negotiate a trade deal with the US to remove the tariffs on its export interests, such as on clothing products. The Philippines looks at the US as a priority market for wearables, as it tries to revive its domestic industry for garments manufacturing.

The US enforces an average MFN rate of 11.6 percent on clothing, making it the fourth product

group with the highest tariffs in the country.

On the other hand, Washington has been assessing the prospect of securing a trade deal with Manila for its motor vehicle exports. It has been asking the Philippines to reduce tariff rates on finished cars and motorcycles, particularly the 30 percent on passenger cars, the 20 percent to 30 percent on vehicles for the transport of goods and the 15 percent to 20 percent on vehicles for the transport of persons.

The US has been demanding the Philippines to bring down duties on motor vehicles to near 5 percent, the rate applied to Japanese and Southeast Asian imports, as part of a bilateral and a regional trade deal, respectively.

Likewise, the US has been pushing the Philippines to open up its agriculture sector, particularly the meat industry. It has been writing letters and letters to the agriculture agency here to lift the two-tiered system for cold storage, wherein additional requirements are imposed on the sale of frozen meat.

News BusinessMirror

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OFBank gains major strides in 1st 100 days

By Bernadette D. Nicolas @BNicolasBM

T

HE Philippines’s first digitalonly and branchless Overseas Filipino Bank (OFBank) reported total inflows of P173.77 million in its first 100 days.

Citing a report of OFBank President-Chief Executive Officer Leila Martin to Finance Secretary Carlos G. Dominguez III, the Department of Finance said the total amount comprised of electronic cash inflows amounting to P108.77 million and OFW remittances of P65 million coursed through the bank in its first 100 days of operation from July 29 to October 7.

On the other hand, OFBank’s total outflows such as withdrawals done via ATMs and electronic banking reached P121.79 million, leaving the bank with an outstanding balance of P51.98 million as of October 7.

In the same period, there were also a total of 12,542 new deposit accounts that were opened.

The accounts were opened by depositors based in 55 countries and territories. These new depositors include overseas Filipinos based in Rwanda, Malta, Belarus, The Bahamas and the Turks and Caicos Islands.

OFBank accounts were also opened in the top 10 countries and territories for deployment of overseas Filipino workers (OFWs). These are the OFW-depositors in Saudi Arabia, United Arab Emirates (UAE), Singapore, Hong Kong, Qatar, Kuwait, Taiwan, Italy, Bahrain and Malaysia, Martin said.

Dominguez said the establishment of the digital-only OFBank fulfills President Duterte’s 2016 campaign pledge to create a bank catering exclusively to the needs of overseas Filipinos (OFs). He had envisioned the bank to be a digitalonly, branchless financial institution to rapidly expand its reach worldwide and serve as a vehicle that would let the Philippines leapfrog to the digital economy.

Since the bank was launched last June 29, Martin said they have so far conducted 44 webinars to drum up interest about its services and educate overseas Filipinos about the importance of saving and investing to improve their financial literacy.

These webinars, which also taught OFs how they can easily open their bank accounts online, were conducted in coordination with the

Land Bank of the Philippines’s (LandBank) Overseas Remittance Group and the Philippine embassies and consulates across the globe.

The webinars also became a venue for the rollout of OFBank’s promotional campaign, in which participants were each provided with a P100 credit in their accounts opened during the online sessions—to demonstrate to them the convenience of doing inbound and outbound fund transfers via electronic means. This campaign was done in partnership with financial services firm VISA. “We also harnessed the power of social media in engaging customers and in encouraging overseas Filipinos to open accounts with OFBank via our mobile banking app,” Martin said in the report.

The OFBank Mobile Banking app, available on both IOS and Android devices, also received high feedback ratings.

As part of mobile app’s valueadded services, it included a link to the LandBank’s web site for its Bahay Para sa Bagong Bayani Housing Loan Program and the OFW Re-Integration Loan Program.

The app also included a Premyo Savings Bond Facility, which allows investors to purchase these retail bonds in five minutes or less.

An eMulti-Purpose Loan facility will also be made available in the app once the Overseas Workers’ We l fa re A d m i n i st rat ion signs a memorandum of agreement with the OFBank regarding the loan parameters of the program, she added.

As a digital-only facility, the OFBank “a fully owned subsidiary of LandBank ” now utilizes the Digital Onboarding System with Artificial Intelligence to facilitate real-time account opening via the OFBank Mobile Banking app.

The new digital account opening platform allows Filipinos abroad and their beneficiaries to securely and conveniently submit all requirements online.

Opening an account using DOBSAI via the OFBank Mobile Banking App is safe and secure.

The applicant only needs to take a “selfie” and the system will compare this photo with the photo in the valid identification card uploaded by the client.

This app also has advanced encryption and security technology that protects sensitive information belonging to OFBank depositors.

Editor: Vittorio V. Vitug • Thursday, November 12, 2020 A3

DA rolls out P200-M aid to Bicol farmers and fisherfolk as Luzon braces for Ulysses

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By Jasper Emmanuel Y. Arcalas @jearcalas & Rene Acosta @reneacostaBM

HE Department of Agriculture (DA) announced on Wednesday that it has released some P200 million worth of assistance to farmers and fisherfolk in typhoon-hit Bicol region, notably Catanduanes, to help victims cope with the devastation.

This developed as police and military forces in areas affected and threatened by Typhoon Ulysses have been mobilized for disaster response as a big area of Luzon, including the Bicol region, still reeling from Typhoon Rolly, braced for torrential rains and powerful wind.

An initial report by the National Disaster Risk Reduction and Management Council (NDRRMC) said seven road sections and two bridges in Regions 1 and 2 and in the Cordilleras have been affected by flooding, mudslide and landslides due to Ulysses, which has affected Northern and Southern Luzon and Metro Manila on Wednesday.

Farm aid

BULK of the interventions, which include abaca farm rehabilitation, inbred and hybrid rice seed distribution, provision of fishing boats and engines, among others, went to the municipalities of Bato and Virac, Catanduanes, which took the brunt of Rolly’s fury, according to DA. Abaca farmers received P121 million worth of farm rehabilita-

tion interventions through the DA’s Philippine Fiber Industry Development Authority (PhilFida), the DA added.

Abaca is the prized crop of Catanduanes generating P150 million worth of monthly revenues for the province, according to Gov. Joseph Cua. Based on the latest DA damage report as of November 10, Rolly affected 39,790 hectares of abaca farms resulting in a volume loss of 12,918 metric tons (MT) valued at P1.02 billion.

Due to the damage caused by Rolly to Catanduanes, the PhilFida is seeing 20-year low abaca output this year as the province accounts for 30 percent of the country’s annual production. (Related story here: https://businessmirror.com. ph/2020/11/03/rolly-hits-abacahard-20-year-decline-seen/) The DA also provided farmers P23 million worth of hybrid and inbred rice seeds, corn seeds, vegetable seeds as well as urea fertilizer, 4 wheel tractor and other farm implements.

Fishermen in the province re-

ceived P25 million worth of fishing interventions that include boats, engines, nets and other paraphernalia, marine plywood and other materials for boat repair.

They also received tilapia fingerlings, canned sardines and other forms of assistance from t he Bu reau of Fisher ies a nd Aquatic Resources.

The DA said the National Food Authority (NFA) has provided 1,000 metric tons, or about 20,000 50-kilogram bags of rice to the province of Catanduanes while the Philippine Crop Insurance Corp. has allocated P592.4 million worth of indemnification payments for 32,761 Bicol farmers.

The DA added that its Agricultural Credit and Policy Council (ACPC) has allotted P100 million worth of Survival and Recovery (SURE) loan program for Bicol that farmers could avail of P25,000 non-collateral, zero interest loan payable in 10 years.

The Office of the President, likewise, has extended P10 million worth of financial assistance to the province as well as hundreds of face masks, shields, boxes of medicines and dozens of bicycles and computer tables, according to the DA. The initial estimate of the agrifishery damage in Bicol due to Typhoon Rolly amounts to more P3 billion, DA Bicol Regional Director Rodel Tornilla said.

Work, school suspension

UPON the recommendation of the NDRRMC, Malacañang has also suspended work in schools and government offices as of 3 p.m. on Wednesday until Thursday in Regions 2, 3, 4A and 4B and in the Cordillera Ad-

DOTr eyes creation of 2 more crew-change hubs

By Samuel P. Medenilla @sam_medenilla

T

HE Department of Transportation (DOTr) is set to open two more crew-change hubs in the country.

During President Duterte’s public address on Tuesday evening, Transportation Secretary Arthur Tugade announced bared plans

to put up the hubs in the Port of Davao and Batangas in the next few weeks.

This will be in addition to the existing crew-change hubs in the Ports of Manila, Bataan, Subic and Cebu.

These four facilities were already able to accommodate 875 ships and benefited 14,000 seafarers since their inception this year.

Tugade said the creation of additional hubs is part of the government’s goal to make the country the crew-change hub capital of the world, which is expected to bring new developments in the areas in around these ports.

He also said it aims to ease the disembarkation of Filipino seafarers.

The Department of Labor and Employment (DOLE) and its at-

House member pushes enactment of FIST bill

H

OUSE Committee on Ways and Means Chairman Joey Salceda is pressing for the immediate enactment of the Senate version of the Financial Institutions’ Strategic Transfer (FIST) Act to hasten liquidity into the national economy.

Salceda, in an aide memoire to his House colleagues, said the Bangko Sentral ng Pilipinas (BSP) estimates that some P1.9 trillion of additional liquidity has already been released into the economy.

The FIST bill aims to help financial institutions in their bad debt resolution and management of their non-performing assets to cushion the adverse impact of the Covid-19 pandemic on their financial operations.

“Banks, however, have been reluctant to release credit and have loaded up provisions, fearing taking up loans with a high risk of defaulting. By allowing these banks avenues to improve the performance of these loans, their appetite for risk and willingness to extend credit will be expanded significantly,” said Salceda, a congressional representative from the Second District of Albay and co-chairman of the Economic Stimulus and Recovery Cluster of the House Defeat

Covid-19 Committee.

He said the expeditious enactment of the law, by means of a House adoption of the Senate version, would signal to the business community, to the investor community and to the markets, and to the public that Congress is “committed to doing whatever it takes to get the economy back on track.”

According to the lawmaker, given that there are no substantial amendments in the Senate version that are inimical, or contradictory to the House version, the lower chamber should adopt the upper house’s FIST bill, or Senate Bill 1849.

The Senate has recently approved on third and final reading SB 1849, which allows banks to dispose of nonperforming loans and assets through asset management companies.

The bill is a modified version of the Special Purpose Vehicle Act, which allowed the creation of the special purpose vehicles in the early 2000 in response to the Asian Financial Crisis. FIST bill, upon its enactment, will enable banks to strengthen their balance sheets and other key banking benchmarks as well as extend more credit to sectors in critical need of liquidity. Jovee Marie N. Dela Cruz

ministrative Region and Metro Manila, still due to the typhoon, which hit Luzon, just 10 days after Rolly battered Bicol region.

The NDRRMC issued sustained warnings on the effects of the typhoon as the provinces of Albay and Catanduanes are barely coping from the massive destruction brought by Rolly.

Armed Forces Chief of Staff General Gilbert Gapay has ordered all forces in areas affected by Ulysses to remain on high alert and be ready to provide assistance as needed, in coordination with local officials and the NDRRMC. “Personnel and equipment of Southern Luzon Command, Northern Luzon Command, and JTF National Capital Region down to the battalion level are already pre-positioned in safe locations,” Gapay assured.

“Search and rescue units with mobility assets are also working round the clock to evacuate those that are still in low-lying areas,” he said.

The Navy’s Naval Forces Northern Luzon (NFNL) has also alerted all of units and Disaster Response and Rescue Teams (DRRTs) and ensured the availability of its assets and equipment for disaster operations.

“Essential equipment such as M35 and KM450 trucks, rubber boats with outboard motors, generators, cutting tools, and life-saving equipment were inventoried to guarantee a high level of response,” it said in a statement.

Newly insta lled Philippine National Police chief General Debold Sinas also put on alert PNP units, especially in the whole of Southern Luzon for ty phoonresponse operations.

tached agency, the Philippine Overseas Employment Administration, earlier attributed the recovery in the country’s deployment of Filipino seafarers to creation of the said hubs.

The deployment of Filipino seafarers declined from March to May due to the movement restrictions and quarantine measures implemented worldwide due to the pandemic.

BFAR hoists ‘red tide’ warning in 12 provinces

T

TAMBALANG MAGKUKUYANG

Photo shows (from left) Jeremy Cobrador, Sherwin Esguerra, John Dela Cruz, Bernard Pagsanjan, Jojo Narciso, Mw Bro Agapito Suan Jr., Grand Master Free and Accepted Mason of the Philippines; ALC Media Group Chairman D. Edgard A. Cabangon, Ricky Khoo, Edgar Abalos Cook, Stanley Lao, Atty. Noel Bulaong and Jupiter Trapero. A year ago today marks the first year since the signing of the memorandum of agreement between Aliw Broadcasting Network and SCWC: Tambalang Magkukuyang. In observance of the momentous event, SCWC vowed it will continue to innovate and stay true to its core values of charity and public service. The program draws strength from its supporters and viewers here and abroad. CONTRIBUTED PHOTO

HE Bureau of Fisheries and Aquatic Resources (BFAR) said 12 provinces are currently affected by the “red tide,” advising the public to refrain from collecting, selling, buying, and eating shellfish gathered in the affected areas.

ShellfishBulletin25issuedonNovember 9 by BFAR revealed that shellfishes collected in the following areas are still positiveforparalyticshellfishpoisonthat is beyond the regulatory limit.

These are: Bataan—Mariveles, Limay, Orion, Pilar, Balanga, Hermosa, Orani, Abucay and Samal; Puerto Princesa City-Honda and Puerto Princesa Bays Palawan—Coastal waters of Inner Malampaya Sound, Taytay in Palawan; Masbate - Coastal waters of Milagros Bohol—Coastal waters of Dauis and Tagbilaran City Negros Oriental-Tambobo Bay, Siaton Western Samar—Coastal Waters of Daram Island, Zumarraga, Irong-irong, San Pedro, Maqueda and Villareal Bays Leyte-Cancabato Bay, Tacloban City and Carigara Bay Eastern Samar—Matarinao Bay Davao OrientalBalite Bay, Mati City Surigao del Sur—Lianga Bay and Coastal waters of Hinatuan Zamboanga del Sur—Dumanquillas Bay. Jonathan L. Mayuga

BusinessMirror

A4 Thursday, November 12, 2020

ESTABLISHMENT / ADDRESS NO.

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS POSITION

24/7 BUSINESS PROCESSING INC. 5th-6th-7th Flr. 81 Newport Bl Newport City Brgy. 183 Pasay City AN, XIAOPO, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

2.

LEW CHUN SHEN, Malaysian

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

3.

LIEW ZI YIH, Malaysian

CUSTOMER SERVICE REPRESENTATIVE (CHINESE ACCOUNTS)

1.

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1 Pitx Kennedy Road Tambo Parañaque City 4.

AN, FENGFENG, Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

5.

AN, CHENGHUI, Chinese

6.

CUSTOMER SERVICE CHENG, HONGHAO, Chinese REPRESENTATIVE MANDARIN SPEAKING

7.

FU, LIXING, Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

8.

JI, TIANTIAN, Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

9.

LI, FENGHUA, Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

10.

LIU, KUN, Chinese

11.

CUSTOMER SERVICE NANG MYA WIN, Myanmari REPRESENTATIVE MANDARIN SPEAKING NAY MYO MIN, Myanmari

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

13.

WANG, JICHENG, Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

14.

WANG, QIANG, Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WANG, YI, Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

WU, DEAN, Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

YANG, SIHE, Chinese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

YOON PO PO, Myanmari

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING

12.

15.

16.

17.

18.

19.

20.

21.

YOU, HANLING, Chinese YU, XINGSHOU,Chinese NGUYEN THI KIM HUE, Vietnamese

CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING CUSTOMER SERVICE REPRESENTATIVE MANDARIN SPEAKING MANDARIN CUSTOMER SERVICE REPRESENTATIVE

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1 Pioneer St Mandaluyong City 22.

NEHA, Indian

TECHNICAL WRITING AND TRANSLATION PROJECT EMPLOYEE

BAOLONG TECHNOLOGY INDUSTRY GROUP LIMITED INC. 20-29th/f Century Diamond Tower Kalayaan Ave. Cor. Salamanca St. Poblacion Makati City

NO.

FOREIGN NATIONAL / NATIONALITY

45.

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS POSITION

NO.

SHEN, KE, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

HOPE-FOR-THE-CHILDREN INC. U 26 Ext-b 3f Bac. Bagong Mile F.b Harrison St. Brgy. 076 Pasay City

46.

TANG, QIUPENG, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

89.

47.

WEI, XIANG, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

48.

YIN, MANXIN, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

BRIGHTLEISURE MANAGEMENT INC. 10/f Newport Entertainment & C Newport City Manlunas Brgy. 183 Pasay City 49.

HU, XIA, Chinese

VIP MARKETING ASSISTANT MANAGER

FOREIGN NATIONAL / NATIONALITY

ESTABLISHMENT / ADDRESS

SHEIKH, KAWCER, Bangladeshi

POSITION

INTERNATIONAL SPONSORSHIP COORDINATOR

HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower 6795 Ayala Ave., Cor., V.a. Rufino St. Bel-air Makati City 90.

ZHU, HEWEN, Chinese

PROJECT MANAGER FOR GLOBE WIRELESS EXPANSION

INFOVINE INC. 9/f Y Tower, Moa Complex Coral Way Drive Cor. Macapagal Brgy.

076 Pasay City 91.

BAI, BINBIN, Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

92.

CHAU VAN MANG, Vietnamese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

93.

DODY INDRAWAN, Indonesian

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

94.

HE, WENHAO, Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

95.

KANG JIA YING, Malaysian

CITY OF GOOD HOPE HOLDINGS CORP. Unit 401 Valero One Center 102 Valero St. Bel-air Makati City

96.

52.

97.

CAMPAIGN COMPLETE SOLUTIONS PHILS. INC. U-2310&2311 Cityland 10 Tower 1 156 H.v. Dela Costa St. Bel-air Makati City 50.

FARRELL QUINN, ROISIN ANNE, Irish

COUNTRY MANAGER

CEBU AIR, INC. Cebu Pacific Bldg. Domestic Rd Brgy. 191 Pasay City 51.

TORRES SAN MIGUEL, FRANCESC-XAVIER, Spanish

CHEN, QINGSHAN, Chinese

EXECUTIVE ADVISER, OPERATIONS SUPPORT

ADMINISTRATIVE ASSISTANT

NO.

FOREIGN NATIONAL / NATIONALITY

POSITION

138.

WANG, XIUMIN, Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

139.

XIAO, SU, Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

140.

YAO, XINTING, Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

141.

ZHAO, XIONG, Chinese

MANDARIN SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

142.

NGUYEN THI CHINH, Vietnamese

VIETNAMESE SPEAKING CUSTOMER RELATIONS SERVICE PROVIDER

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower C4 Rd. Edsa Ext. Brgy. 076 Pasay City 143.

BAO, RUIKUN, Chinese

CHINESE CUSTOMER SERVICE

144.

CHEN, LI, Chinese

CHINESE CUSTOMER SERVICE

145.

CHEN, LIANGSHAN, Chinese

CHINESE CUSTOMER SERVICE

146.

CHEN, CANHUI, Chinese

CHINESE CUSTOMER SERVICE

147.

CHINESE CUSTOMER SERVICE

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

CHRISTINE NATALIA, Indonesian

148.

FAN, YONGXIANG, Chinese

CHINESE CUSTOMER SERVICE

FU, YINGYING, Chinese

CHINESE CUSTOMER SERVICE

ZHANG, HUIMIN, Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

149.

150.

HAN, ZHIJIN, Chinese

CHINESE CUSTOMER SERVICE

ZHANG, YONGGANG, Chinese

CHINESE SPEAKING CUSTOMER SERVICE REPRESENTATIVE

151.

HE, JIANGXIANG, Chinese

CHINESE CUSTOMER SERVICE

152.

KYAW MIN HTET, Myanmari

CHINESE CUSTOMER SERVICE

153.

LAM CAY CHIENG, Vietnamese

CHINESE CUSTOMER SERVICE CHINESE CUSTOMER SERVICE

53.

LIU, ZHIWEI, Chinese

ADMINISTRATIVE MANAGER

98.

GUAN, YEYE, Chinese

54.

LI, NING, Chinese

CHINESE - BUSINESS DEVELOPMENT ASSISTANT

CHINESE SPEAKING DATA ENTRY CLERK

99.

YANG, JIANYU, Chinese

CHINESE SPEAKING DATA ENTRY CLERK

154.

LEI, QIAN, Chinese

55.

GAO, XIAOKUN, Chinese

CHINESE - MARKETING ASSISTANT

LI, JI, Chinese

CHINESE CUSTOMER SERVICE

100.

HUANG, JINZHEN, Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

155.

156.

LI, GUIDI, Chinese

CHINESE CUSTOMER SERVICE

101.

KAM CHUNG TZE, Malaysian

CHINESE SPEAKING GRAPHIC DESIGNER

157.

LI, LEI, Chinese

CHINESE CUSTOMER SERVICE

158.

LI, WEIHUA, Chinese

CHINESE CUSTOMER SERVICE

102.

LEE GIAN HERNG, Malaysian

CHINESE SPEAKING GRAPHIC DESIGNER

159.

LI, JIANGLI, Chinese

CHINESE CUSTOMER SERVICE

LI, JUN, Chinese

CHINESE CUSTOMER SERVICE

103.

LIU, WEI, Chinese

CHINESE SPEAKING GRAPHIC DESIGNER

160.

161.

LI, KAIHUI, Chinese

CHINESE CUSTOMER SERVICE

LI YWEL SIN, Myanmari

CHINESE CUSTOMER SERVICE

LU, YEN-CHANG, Taiwanese

CHINESE SPEAKING GRAPHIC DESIGNER

162.

104.

163.

LIU, ZONGSHI, Chinese

CHINESE CUSTOMER SERVICE

164.

LIU, HONGCHEN, Chinese

CHINESE CUSTOMER SERVICE

165.

LIU, LI, Chinese

CHINESE CUSTOMER SERVICE

CLOVERSENSE TECHNOLOGY INC. 29/f Robinsons Summit Center 6783 Ayala Center Bel-air Makati City 56.

LIN KAH MUN, Malaysian

SPORTS TRADER - BAHASA SPEAKING I

FAREAST OUTSOURCE PROCESSING INC. 7th, 8th, 9th Flr. Nu Tower Moa Coral Way Brgy. 076 Pasay City 57.

WANG, JINHUI, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

FLY ASIAN INTERNATIONAL CORPORATION Eighty One Newport Blvd. Newport City Va, Brgy. 183 Pasay City

105.

TIAN, LINGZHI, Chinese

CHINESE SPEAKING PROGRAM DESIGNER

58.

DING, ZHIXIANG, Chinese

MARKETING CONSULTANT (MANDARIN SPEAKING CLIENTS)

106.

WANG, QIANXU, Chinese

CHINESE SPEAKING PROGRAM DESIGNER

166.

LIU, YANG, Chinese

CHINESE CUSTOMER SERVICE

LIU, YUSHENG, Chinese

CHINESE CUSTOMER SERVICE

59.

LI, WEI, Chinese

CHINESE CUSTOMER SERVICE

107.

WU, XIAOFENG, Chinese

CHINESE SPEAKING PROGRAM DESIGNER

167.

168.

LONG, XIANGYU, Chinese

CHINESE CUSTOMER SERVICE

108.

ZHANG, MING, Chinese

CHINESE SPEAKING PROGRAM DESIGNER

169.

LONG, CONG, Chinese

CHINESE CUSTOMER SERVICE

170.

LU, CHUNLIANG, Chinese

CHINESE CUSTOMER SERVICE

109.

ZHANG, TING, Chinese

CHINESE SPEAKING PROGRAM DESIGNER

171.

LUONG THU BINH, Vietnamese

CHINESE CUSTOMER SERVICE

110.

ZHENG, YANG, Chinese

CHINESE SPEAKING PROGRAM DESIGNER

172.

MIAO, HANG, Chinese

CHINESE CUSTOMER SERVICE

173.

MU, XIANQIN, Chinese

CHINESE CUSTOMER SERVICE

174.

NGUYEN THI HONG HANH Vietnamese

CHINESE CUSTOMER SERVICE

175.

PHAM PAC CHAN, Vietnamese

CHINESE CUSTOMER SERVICE

60.

WANG, XIANG, Chinese

CHINESE CUSTOMER SERVICE

61.

WEI, WEICHUN, Chinese

CHINESE CUSTOMER SERVICE

62.

YAN, JIAYING, Chinese

CHINESE CUSTOMER SERVICE

63.

KHOO SIOW CHI, Malaysian

MALAYSIAN CUSTOMER SERVICE

GBF CORPORATION 1203 12th Floor 32nd St. Fort Bonifacio Taguig City 64.

NAM, SANGMOO, South Korean

KOREAN CHEF CONSULTANT

GENERAL ELECTRIC PHILIPPINES, INC. 12th Floor Ore Central Tower 9th Ave. Corner 31st St. Bonifacio Global City, Fort Bonifacio Taguig City 65.

TIAN, RUOCHAO, Chinese

INSTALLATION SPECIALIST

GLOBAL B2B CONSULTANCY, INC. 50/f Pbcom Tower 6795 Ayala Avenue Bel-air Makati City 66.

BUDI HARTONO, Indonesian

CUSTOMER SERVICE CHINESE SPEAKING

67.

CHIANG, YA-CHIEH, Taiwanese

CUSTOMER SERVICE CHINESE SPEAKING

68.

HSU, SHIH-CHIEH, Taiwanese

CUSTOMER SERVICE CHINESE SPEAKING

69.

PENG, HSIN-HUEI, Taiwanese

CUSTOMER SERVICE CHINESE SPEAKING

INTERCOMP LINK SOLUTIONS INC. 14th Floor, Filinvest Three Bldg. Northgate Cyberzone Filinvest Alabang Muntinlupa City CUSTOMER SERVICE REPRESENTATIVE (CSR)

111.

BI, XIANGCHENG, Chinese

176.

QUAN, FENGLAN, Chinese

CHINESE CUSTOMER SERVICE

112.

CUSTOMER SERVICE WANG, WENRONG, Chinese REPRESENTATIVE (CSR)

177.

SHANG, KEJIAN, Chinese

CHINESE CUSTOMER SERVICE

178.

THENG, SRENG, Cambodian

CHINESE CUSTOMER SERVICE

113.

CUSTOMER SERVICE REPRESENTATIVE (CSR)

179.

TIAN, QINGQING, Chinese

CHINESE CUSTOMER SERVICE

180.

TRAN HOANG NHU Y, Vietnamese

CHINESE CUSTOMER SERVICE

181.

TRAN THI LAN HUONG, Vietnamese

CHINESE CUSTOMER SERVICE

182.

TRAN TRUNG KIEN, Vietnamese

CHINESE CUSTOMER SERVICE

183.

TRINH Y HANH, Vietnamese

CHINESE CUSTOMER SERVICE

184.

UNG A LIN, Vietnamese

CHINESE CUSTOMER SERVICE

WANG, PING, Chinese

CHINESE CUSTOMER SERVICE

WEI, RENGUI, Chinese

ITECHNO SPECIALIST INC. 9/f 100 West Building Sen. Gil Puyat Ave. Pio Del Pilar Makati City 114.

HE, WANYU, Chinese

CHINESE IT SUPPORT SPECIALIST

115.

LI, YA, Chinese

CHINESE IT SUPPORT SPECIALIST

116.

LIU, SHAOHUI, Chinese

CHINESE IT SUPPORT SPECIALIST

117.

QIAO, CHU, Chinese

CHINESE IT SUPPORT SPECIALIST

185.

WANG, CHUNLING, Chinese

CHINESE IT SUPPORT SPECIALIST

186.

WANG, JINMING, Chinese

CHINESE CUSTOMER SERVICE

187.

WANG, PENGJUN, Chinese

CHINESE CUSTOMER SERVICE

WANG, ZHILIN, Chinese

CHINESE CUSTOMER SERVICE

CHENH CHANH QUAY, Vietnamese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

70.

SHEN, YU-SHUN, Taiwanese

CUSTOMER SERVICE CHINESE SPEAKING

118.

24.

DAI, XU, Chinese

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

71.

TIEN, PING-FENG, Taiwanese

CUSTOMER SERVICE CHINESE SPEAKING

119.

WEI, WENJING, Chinese

CHINESE IT SUPPORT SPECIALIST

188.

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

72.

120.

WU, MEIZHEN, Chinese

CHINESE IT SUPPORT SPECIALIST

CHINESE CUSTOMER SERVICE

PHAM THI QUYNH, Vietnamese

CUSTOMER SERVICE INDONESIAN SPEAKING

WEI, DONGMAO, Chinese

25.

ALEXANDER AGUNG LAKSONO, Indonesian

189.

190.

WU, KAIYU, Chinese

CHINESE CUSTOMER SERVICE

YANG, SHIYANG, Chinese

NATALIA ANGEL, Indonesian

CUSTOMER SERVICE INDONESIAN SPEAKING

CHINESE CUSTOMER SERVICE

MANDARIN CUSTOMER SERVICE REPRESENTATIVE

73.

WU, XIAOLONG, Chinese

23.

26.

BIG EMPEROR TECHNOLOGY CORP. Eastfield Center Cbp1, Macapagal Blvd. Brgy. 076 Pasay City 27.

CHEN, GENGCHENG, Chinese

MANDARIN LANGUAGE SPECIALIST

BILLION DRAGON OUTSOURCE PHILS., INC. 3/f Ayala Mall Southpark National Road Alabang Muntinlupa City

74.

CHORRUANGSAK, PRANITHAN, Thai

CUSTOMER SERVICE THAI SPEAKING

75.

KHANTHARAJ, PAKPOOM Thai

CUSTOMER SERVICE THAI SPEAKING

76.

SEEHATRAI, SUTHANG, Thai

CUSTOMER SERVICE THAI SPEAKING

77.

TANAPATARNONG, SIRALAK CUSTOMER SERVICE THAI Thai SPEAKING

78.

TIWATTANASUK, RATIKORNCHAI, Thai

79.

WATCHARATAKSIN, KANETE CUSTOMER SERVICE THAI Thai SPEAKING

LIANG, XINXIN, Chinese

CUSTOMER SERVICE REPRESENTATIVE

29.

LIAO, BIANFU, Chinese

CUSTOMER SERVICE REPRESENTATIVE

30.

LIU, SHUN, Chinese

CUSTOMER SERVICE REPRESENTATIVE

31.

QIN, YAOHUA, Chinese

CUSTOMER SERVICE REPRESENTATIVE

WU, XINHE, Chinese

CUSTOMER SERVICE REPRESENTATIVE

XIAO, GUOJUN, Chinese

CUSTOMER SERVICE REPRESENTATIVE

XIAO, JIAN, Chinese

CUSTOMER SERVICE REPRESENTATIVE

35.

XIAO, XIN, Chinese

CUSTOMER SERVICE REPRESENTATIVE

36.

XIE, QIN, Chinese

CUSTOMER SERVICE REPRESENTATIVE

37.

CHEN, YANTANG, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

38.

DING, XIAOYE, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

39.

HE, QIANG, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

HECTECHURE CORP. Units A&b 20/f Rufino Pacific Tower 6784 Ayala Ave. Cor. V.a. Rufino St. San Lorenzo Makati City

40.

HONG, CANJIE, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

86.

LIU, YANGWEN, Chinese

41.

HONG, XIAOWEI, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

87.

XIE, JINZHAO, Chinese

42.

LIU, JIANGUO, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

43.

LIU, TAO, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

PENG, YUN, Chinese

CUSTOMER SERVICE REPRESENTATIVE (CSR)

28.

32.

33.

34.

44.

CUSTOMER SERVICE THAI SPEAKING

80.

LY BUU HA, Vietnamese

CUSTOMER SERVICE VIETNAMESE SPEAKING

81.

MENG, FANKAI, Chinese

CUSTOMER SERVICE VIETNAMESE SPEAKING

82.

NGUYEN MINH QUANG, Vietnamese

CUSTOMER SERVICE VIETNAMESE SPEAKING

83.

NGUYEN THI XUAN HUYEN, Vietnamese

CUSTOMER SERVICE VIETNAMESE SPEAKING

GULF SUPPORT MARKETING PH INC. Level 26-a Rufino Pacific Tower 6784 Ayala Ave. San Lorenzo Makati City 84.

LUKAS, VIT, Czech

PRESIDENT AND HEAD OF THE BACK OFFICE DEPARTMENT

HASKONING PHILIPPINES, INC. U-62 6/f Legaspi Suites 178 Salcedo St. San Lorenzo Makati City 85.

MORRISH-HALE, TREVOR JOHN, British

PRESIDENT, CHAIRMAN AND DIRECTOR

121.

YANG, MI, Chinese

CHINESE IT SUPPORT SPECIALIST

191.

122.

ZHANG, YANLAN, Chinese

CHINESE IT SUPPORT SPECIALIST

192.

XIE, JIAJIA, Chinese

CHINESE CUSTOMER SERVICE

193.

XIE, SHIFA, Chinese

CHINESE CUSTOMER SERVICE

JIDA COMMUNICATION (PHILIPPINES) INC. 99 Comclark Reliance Center E. Rodriguez Jr. Ave. Ugong Pasig City

194.

YE, YONGKAI, Chinese

CHINESE CUSTOMER SERVICE

195.

ZHANG, DIANWEN, Chinese

CHINESE CUSTOMER SERVICE

123.

CHEN, GUANGTAO, Chinese

PROJECT MANAGER

196.

ZHENG, CHAOSHI, Chinese

CHINESE CUSTOMER SERVICE

124.

LI, JUNCHENG, Chinese

PROJECT MANAGER

197.

ZHOU, JIQUAN, Chinese

CHINESE CUSTOMER SERVICE

198.

ZOU, CHUNJIAN, Chinese

CHINESE CUSTOMER SERVICE

125.

LIU, ZHIWEI, Chinese

PROJECT MANAGER

199.

CHEN, YI, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

126.

MENG, QINGCHAO, Chinese

PROJECT MANAGER

200.

CHEN, LEIYAN, Chinese

127.

MENG, FANLONG, Chinese

PROJECT MANAGER

CHINESE CUSTOMER SERVICE REPRESENTATIVE

201.

CHEN, YAOLONG, Chinese

128.

XIANG, JINGZHU, Chinese

PROJECT MANAGER

CHINESE CUSTOMER SERVICE REPRESENTATIVE

129.

YU, NING, Chinese

PROJECT MANAGER

202.

CHEN, CHUNRONG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

130.

YU, XIFENG, Chinese

PROJECT MANAGER

203.

CHEN, TIHONG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

204.

DONG, KAIRUI, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

205.

FU, XUEYUN, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

JIU ZHOU TECHNOLOGIES INTERNATIONAL, INC. U-3401 34/f Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Bel-air Makati City 131.

RUNGRUEANG, KANYALAK Thai

THAI CUSTOMER SERVICE REPRESENTATIVE

206.

GAO, KUN, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

132.

TANG LIEU HOA, Vietnamese

VIETNAMESE CUSTOMER SERVICE REPRESENTATIVE

207.

GUO, XIAOLONG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

208.

HOU, FANG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

209.

HU, GUOLIANG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

210.

HUANG, RONG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

211.

HUANG, WENQIANG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

212.

HUANG, FANG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

213.

JIN, WENQIANG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

214.

LI, JIUYANG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

215.

LI, LONGCHANG, Chinese

CHINESE CUSTOMER SERVICE REPRESENTATIVE

KONGANBUDDIES MARKETING INC. 48/f Lower Ground Pbcom Tower 6795 Ayala Ave. Cor. V.a. Rufino St. Belair Makati City 133.

GHONE, TUSHAR SUBHASH Indian

ASSISTANT OPERATIONS MANAGER

134.

BENNY ERLIAN, Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

MANDARIN NETWORK AND SYSTEM SPECIALIST

135.

WILLIAM MARGO, Indonesian

INDONESIAN CUSTOMER SERVICE REPRESENTATIVE

MANDARIN OPERATING SYSTEM SPECIALIST

136.

YUEN SOOK KUAN, Malaysian

MALAYSIAN CUSTOMER SERVICE REPRESENTATIVE

HIKES GROUP HOLDINGS INC. Unit No. 2c, Floor No. 4/f Ocean Drive, Zone 10 Barangay 76, District 1 Pasay City

MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City

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DOF bares $300-M addl funding source for vaccine

By Samuel P. Medenilla @sam_medenilla

T

HE country can avail of an additional $300-million funding facility if it needs to buy vaccines to fight Covid-19.

During his public address late Tuesday evening, President Duterte said the Department of Finance (DOF) was able to secure a new funding source for the vaccine procurement initiative.

The new funding will be on top of the P20 billion earlier earmarked by DOF to purchase Covid-19 vaccines for 20 million Filipinos.

However,hesaidthegovernmentmay no longer shoulder the vaccine requirements for the middle and upper class of society since they could very well afford the vaccination at their own expense.

The funding assurance from the government comes as several companies are now in the final stages of their Covid-19 vaccine development.

The vaccines are expected to be completed by the first half of the next year.

Because of the large demand for the vaccine, Duterte said the government may not be able to immediately buy its needed doses due to supply problems.

Nevertheless, he said, the anticipated roll out of the vaccines has lessened his fears on the health risk posed by Covid-19.

“I am no longer afraid of it [Covid-19]...for the succeeding generations—my children and grandchildren—I am quite confident with the thought that they…can take shelter from the Covid storm,” Duterte said.

Thursday, November 12, 2020 A5

DOJ chief to meet with Maynilad, Manila Water on revisions of concession deals

By Joel R. San Juan @jrsanjuan1573

T

HE Department of Justice (DOJ) has been given the gosignal by President Duterte to lay down with water concessionaires Manila Water and Maynilad Water the government’s proposed amendments to their existing contracts.

Justice Secretary Menardo Guevarra said Duterte summoned the DOJ review panel last night for a meeting in Malacañang to present to him the revised new water concession agreements, which would eliminate “onerous” provisions in the previous contracts.

Guevarra said the review panel described to the President the provisions that would have to be deleted or revised and new provisions that would be incorporated and would somehow make the water concession agreements “more equitable, more transparent and will lessen contingent liabilities on the part of the government plus improving its governance system.”

After the presentation, Guevarra said, the President has given his go-signal to negotiate with the two water concessionaires.

“In principle, the President has approved our recommendation so the next step will be to sit down with the

two water concessionaires in Metro Manila to discuss the specific terms and conditions of a proposed new water concession agreement with each of them,” Guevarra said during Wednesday’s Kapihan sa Manila Bay virtual media forum.

When asked whether the government would still pursue filing of charges against those behind the disadvantageous contracts, Guevarra replied: “The President mentioned the anti-graft law last night in relation to the original water concession agreements, but gave no specific directive on whether to press charges or not.”

Guevarra said among the pro-

visions in the existing concession agreements that would have to go are the non-interference on rate setting clause and its twin provision on indemnification arising from such government interference.

Last year, Duterte ordered the DOJ to review the concession agreements after discovering onerous provisions in the existing contracts, and after the Permanent Court of Arbitration (PCA) in Singapore issued a decision stating the Philippine government should pay P7.4 billion to Manila Water and P3.4 billion to Maynilad for the losses they supposedly incurred from unenforced water rate hike.

A6 Thursday, November 12, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

The nation’s most valuable assets

T

he United Nations spearheaded the first celebration of Children’s Day—originally dubbed Universal Children’s Day—on November 20, 1954 to promote international togetherness, awareness among children worldwide, and to help improve children’s welfare. Six decades later, the Philippines expanded this daylong occasion into a month-long celebration.

Republic Act 10661, which was signed in 2015, mandates the celebration of National Children’s Month every November to give recognition to all Filipino children as the nation’s most valuable assets. As such, the needs of our children should be considered at all times and their small voices should be heard to take account of their feelings, thoughts, and their dreams.

The law tasked the Council for the Welfare of Children, Department of Social Welfare and Development (DSWD) and the National Youth Commission to lead the annual celebration. These agencies are authorized to call upon any department, bureau, office, agency, or instrumentality of the government, including government-owned or -controlled corporations, for assistance to ensure the success of the month-long celebration.

With the theme “Sama-samang Itaguyod ang Karapatan ng Bawat Bata sa Panahon ng Pandemya,” this year’s celebration seeks to safeguard and promote the protection of all children and their rights, provide practical support to parents and caregivers on how to care for children and themselves during the pandemic, empower children to protect themselves and to report incidence of abuse, and guide local government units to efficiently deliver their expected roles and functions.

The official icon for the 2020 National Children’s Month illustrates the current focus on upholding children’s rights during the pandemic. The children in the icon holding a shield depict their rights to be protected in this current health crisis. The four categories of rights of children embedded on the shield are surrounded by a silhouette of duty-bearers such as the state, the parents/ caregivers/family members, the church, law-enforcement officers, institutions and professionals from various sectors of society. These elements on the shield symbolize unity or togetherness of duty-bearers that is essential for protecting and upholding children’s rights at all times, in any crisis, and most especially during the Covid-19 pandemic.

According to the United Nation’s Policy Brief on Covid-19 and Children, “there are three main ways children are affected by the crisis and this includes infection with the virus itself, immediate socioeconomic impacts of measures to stop virus transmission, and the potential longer-term effects of delayed implementation of the Sustainable Development Goals.”

National Children’s Month 2020 aims to stimulate advocacy and public information on upholding children’s rights amid Covid-19. Specifically, it aims to: Intensify public awareness on children’s rights and knowledge, adequate care for children, and application of positive discipline in daily dealings with children; push for the institutionalization of a child-friendly environment and governance by promoting the implementation and monitoring of childrelated protocols at the sub-national levels; provide a platform for discourse on persistent and arising issues pertaining to children’s rights to survival, development, protection, and participation during and post Covid-19; empower the children as rights-holders to claim and protect their rights; and equip the duty-bearers to deliver their commitment and fulfill their obligations to protect the rights of children.

Because of the pandemic, the National Steering Committee on Children’s Rights Advocacy headed by the Council for the Welfare of Children, in partnership with the DSWD and National Youth Commission, enjoins other government agencies and non-government organizations to participate by conducting their own online activities in line with the celebration to promote their programs and services for children.

An African proverb says, “It takes a village to raise a child.” Indeed, all of us in our community, not only the parents, are the caretakers of all Filipino children. It is up to us to help these kids grow to their full potential. Children are this country’s future. Investing in them is the only way to put the Philippines on the road to a bright and prosperous future.

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spox

O

ne of the stories coming out of the recently concluded US elections is about how video footage of certain ballot counting practices have been edited in a way to present it out of context, with the ultimate goal of undermining the credibility of elections. Doesn’t that sound familiar?

In 2016, a video clip made the rounds of Philippine social media, claiming to be evidence that the vote counting machines were misreading the ballots. The comment appended to the video alleged that the person in the video declared that she had voted for Candidate A, but that the voting receipt showed a vote for Candidate B instead. As you can imagine, the video set the Internet on fire. In a matter of hours, it racked up thousands of views and provided fodder for people to swear up and down that the elections were rigged.

Fortunately, however, the video had audio—people chattering excitedly watching the vote counting machine being operated. While barely intelligible, it was possible to translate the words being said— they were speaking quite rapidly in a Mindanaoan dialect—and what they turned out to be saying was in fact the exact opposite of what the appended comment said. The people talking were actually excited because the machine read the ballot exactly

as it had been marked.

Quite notably—and I’m sure someone will correct me if I’m wrong—no one in the media, whether mainstream or alternate, actually exerted any effort to translate what the people were saying in the video, and so we were treated to the spectacle of even news reports referencing a provably misleading video clip as potential evidence of election rigging.

The same thing happened in 2019 when a shoddily produced video purporting to show how the vote counting machines “could” misread the ballot. That video also got lots of traction before someone who happened to have had access to the local source code review for the counting machines eventually spoke up. Unfortunately, the truth-teller volunteered his knowledge too late to prevent big personalities from engaging in the usual wide-eyed, outraged, diatribes on television about how “the elections could be rigged”—all on the strength of a ridiculous video that looked like it had been created

The Electoral College

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What vigilance looks like

John Mangun

OUTSIDE THE BOX

T

he most relevant fact about the “USA” is how the United States of America came to be. If you want to understand what that means through a silly story, think of “In the beginning God created the heavens and the earth” (The Book of Genesis) versus “Evolution is the fundamental idea in all of life” (Bill Nye the Science Guy).

The US was created; it did not evolve. Had it evolved from what it once was, it now might be the “United Indian States of America.” Native Americans were there first. Based on some prominent North American Indigenous Peoples’ creation stories, it could be the “United First Nations Tribes of Turtle Island.”

Perhaps the “prototype” for the US coming from the 13 original colonies was the Iroquois League

or Confederacy formed sometime around 1500 from the separate Mohawk, Onondaga, Oneida, Cayuga, and Seneca tribes.

While a governing body and not a central government, the Haudenosaunee Grand Council was made up of 56 chiefs elected from each of the five tribes based on the number of clans in each tribe—“proportional representation.” However, there also was a “Five Nations Governing

Our elders used to remind voters to be vigilant—well, this is what vigilance looks like in the digital age. Vigilance today means you actively fight disinformation, and not just be aware of it; vigilance means calling out frauds and shysters and telling everyone about them, so no one else gets fooled; vigilance means being responsible for your own behavior online so that we’re not unwittingly contributing to the problem. by a talented sixth grader with access to the school’s computer lab.

And the traction that false and misleading information gets with the general population isn’t the only thing about the recently concluded American elections that resonates with the Filipino political experience. The losing presidential candidate’s reactions to the results, for example, mirrors the reactions of many losing candidates in the Philippines. Sadly, the one thing that isn’t very Filipino is the pushback the losing candidate is getting in the public discourse, particularly the media, where his claims and over-all rhetoric are being roundly criticized by others—even by those in his own party—as baseless, in poor taste, and ultimately corrosive of public confidence in the electoral process.

Instead, we see the disgruntled engaging in endless repetitions of baseless claims, even when those claims are patently and provably false. And as for those who really

ought to know better? Well, they’re busy trying to “get both sides,” even to the point of giving utter nonsense a patina of legitimacy.

Will all of this happen again in 2022? You can bet on it. Despite these experiences, and despite all protestations about how media and information literacy is critical to fighting misinformation, I fear that too many people will still be slaves to the need to get the most views, to be the most viral, and to be the one to “break the news” of fraud. Which is why it is important for everyone who isn’t out to feed an audience—whether real, aspirational or imagined—to be active debunkers themselves, instead of waiting for some “authoritative source” to do the debunking for them. After all, the majority of these claims can be sorted out with a few minutes of googling and just some common sense.

Our elders used to remind voters to be vigilant—well, this is what vigilance looks like in the digital age.

Vigilance today means you actively fight disinformation, and not just be aware of it; vigilance means calling out frauds and shysters and telling everyone about them, so no one else gets fooled; vigilance means being responsible for your own behavior online so that we’re not unwittingly contributing to the problem.

The elections of the Americans are over but the lessons we can glean from their experiences are still fresh.

With any luck, we won’t have forgotten those lessons by the time people start to try pulling the wool over our eyes in 2022. Until then, I say again, be vigilant.

Committee” made up of one member from each tribe.

The point is that the sovereignty of each tribe was totally equal, but some adjustments were made for size and power.

I asked on Twitter: “Should China get more votes at the UN than the Philippines?” The choices were (A) Yes. China has more people (14.6 percent) and (B) No. One country, one vote (85.4 percent). That does not sound very fair or democratic. What happened to “one man, one vote”?

Since the UN helps “govern” 7 billion people, shouldn’t the Secretary General be elected by a “popular vote”?

Of course not. “UN” stands for United Nations, not “United People.”

One nation, one vote. Except it is also not the “United People of America.”

Each US state is just as sovereign and independent as another—one state, one vote.

Now kicks in “proportional representation.” Each state has a certain number of presidential electors based on the number of members in the House of Representatives,

which is based on the population size. Bigger states have more electors. In a sense, this is sort of like the permanent members of the UN Security Council—China, France, Russia, the UK, and the US—that have much more power than the General Assembly.

However, all but two US states, by the states’ own choice, have a winnertake-all-electors system, meaning, if a candidate wins the popular vote by one ballot, he/she gets all the electors. That is how a candidate can receive more popular votes and not the most electors.

In 2016, Hillary Clinton won 62 percent of the votes (8,753,788) in California to receive 55 electoral votes. But Donald J. Trump won 52 percent (4,685,047) in Texas and 36 electors, and 48 percent in Pennsylvania (2,970,733) and 20 electors. Clinton had one million more votes and one fewer elector.

If proportional rather than winnertake-all, Clinton would have taken 61 electors.

See “Mangun,” A7

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World’s populists may regret their embrace of Trump

By Mihir Sharma | Bloomberg Opinion

W

E know that US President Donald Trump loves strongmen. He was famously soft on Vladimir Putin’s Russia; he welcomed Hungary’s xenophobic Viktor Orban to Washington by saying he had done “the right thing” by restricting immigration; and he said he got along better with world leaders “the tougher and meaner they are,” singling out Turkish President Recep Tayyip Erdogan as the toughest and meanest.

And the strongmen loved him back.

Orban wrote an op-ed during the election campaign hoping Trump would defeat the Democrats, whom he called “moral imperialists.” Brazil’s Jair Bolsonaro said he hoped “from the heart” that Trump would be re-elected; and Slovenia’s Janez Jansa used various conspiracy theories to justify a call congratulating Trump on winning re-election.

Perhaps it isn’t surprising that populist, right wing strongmen get along well with each other. But their camaraderie provides yet more evidence of how these supposedly nationalist leaders place their own interests above those of their nations.

In coming weeks, many are going to have to back away awkwardly from their embrace of Trump. Israel’s Benjamin Netanyahu began even before the election, smoothly avoiding Trump’s attempt to get him to criticize his Democratic opponent Joe Biden on a phone call. And then, in what one Israeli journalist called “Netanyahu’s two-tweet solution,” he both welcomed Biden’s victory and thanked Trump for his support of Israel.

India’s Narendra Modi has set himself a more difficult task. Modi and Trump held a joint rally in Houston last year, at which the Indian prime minister approvingly quoted a variation of one of his own campaign slogans—“Ab ki baar, Trump sarkaar,” or “Next time, a Trump government”—in what many observers saw as an explicit endorsement of the president.

The Indian ambassador in Washington—now back in New Delhi as India’s top diplomat—met Steve Bannon and described him in a now-deleted tweet as a “warrior for Dharma.” Stung by criticism from Democratic legislator Pramila Jayapal, the Indian foreign minister canceled a meeting with members of the US Congress. And the general secretary of Modi’s political party warned Democrats, after a tweet from Sen. Bernie Sanders critical of Trump’s tacit approval of anti-Muslim

riots in Delhi, that his party was now “compelled” to “play a role in the US presidential elections.”

None of this made much sense at the time; now it looks incredibly shortsighted. Like their counterparts in similarly placed countries, Indian leaders are reduced to hoping that Biden won’t make the same mistakes they did—in other words, that his administration will look beyond who’s in power at the moment and focus on long-term ties.

Officials in New Delhi are feverishly reminding themselves and anyone else who will listen that Biden was one of India’s strongest backers on Capitol Hill, that he had nice words for the country even when it was the subject of international condemnation following its nuclear tests in 1998 and that he was one of the leaders of the bipartisan charge to normalize strategic relations between the two countries through an agreement on nuclear energy in the 2000s.

Other nations led by impulsive populists are also being forced to praise a bygone era of bipartisan diplomacy.

Brazil’s Foreign Minister Ernesto Araujo told Bloomberg News that warming ties “happened between Brazil and the US, not between two presidents.” UK Prime Minister Boris Johnson spoke of the “shared priorities” of his country and the US. But you would struggle to find anyone in these capitals who would disagree that their leaders’ impetuousness over the past few years won’t be a hurdle in the next four.

And this time they’ll be dealing with Biden, a man likely to take the pragmatic, long view—even with Johnson, who upset both Biden and Sen. Kamala Harris with his borderline-racist remarks about Barack Obama some years ago. Suppose it had been Sanders? Suppose the progressive wing of the Democratic Party has the next chance at government? Is it wise for any ally or friend of the US to infuriate potential American leaders to this degree?

That’s the problem with the new breed of nationalists. They aren’t actually interested in the national interest at all. Without exception, they evaluate actions in terms of whether they offer immediate political benefits or, more often, a momentary ego boost.

It’s all very well to talk of the benefits of “personal diplomacy.” Most of the time, it’s just one strongman desperately seeking validation from another.

This is no way to build deep, strategic partnerships.

Good vaccine news kicks off a perilous two months

M

onday brought the most promising news so far in the pharmaceutical fight against Covid-19: A candidate vaccine has prevented more than 90% of symptomatic infections among people who received it in a large clinical trial. By the end of this month, Pfizer and BioNTech are expected to have enough data to apply for emergency use of the vaccine, even as crucial further data are yet to arrive.

With luck, it appears that 25 million people could be vaccinated by the end of the year, and during 2021, some 650 million more.

Also auspicious for America’s chances against the pandemic is the outcome of the election. President-elect Joe Biden is already taking the Covid challenge far more seriously than the current president ever has. He’s named a top-flight advisory board of medical experts who understand every aspect of the challenge ahead: the coronavirus itself; vaccine development and distribution; best practices in public health campaigns, both domestic and global; hospital emergency management; and how to ensure health care for populations marginalized by race and income. Biden’s top advisers have already met with the pharmaceutical companies that are developing vaccines in the government’s Operation Warp Speed program, and have assured them that the new president will fully support their work.

The trouble is, none of this will bear fruit immediately. Pfizer and BioNTech must wait longer for essential safety data before they can apply to the FDA for emergency authorization. Even then, further research will be needed to learn how long their vaccine’s protection lasts, whether it can keep people from carrying

the virus and whether it can prevent severe infections—to list a few of the vital questions that remain open.

Presidential transitions require patience, too. Trump remains president for the next 10 weeks. Though reeling from his election defeat, he needs to start taking his duty to manage the pandemic more seriously. Even if he isn’t ready to concede defeat, the coronavirus emergency means he shouldn’t obstruct planning for a smooth transition to the Biden team on Warp Speed, Covid-19 data collection and other essential pandemic matters. Career experts still operating in the federal government should also do what they can.

Biden’s team has made clear its determination to restore public confidence in vaccines—confidence that Trump has undermined by playing politics with the regulatory system. In addition to working with pharmaceutical companies, Biden should reach out to governors and mayors seeking help in developing an effective, unified public-health message. The goal is to persuade Americans to practice good Covid hygiene—wear masks, keep distance, wash hands—and trust efforts under way to test and approve vaccines.

The next two months are perilous.

To date, 10 million Americans have gotten Covid-19, about one-fifth of the world’s total. And with the coronavirus now widespread everywhere and colder weather driving people indoors, new infections are surging to record highs.

Biden and his team are right to make the pandemic their first priority, and to begin doing all they can without delay.

Trump and his administration should do everything possible to help them get on with it. Bloomberg Opinion

The responsible stewards Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

T

he coming of Christ at the end of time entails on the part of each of us a reckoning of what we have done with all the gifts and opportunities given us in our lifetime. The parable of the talents (Matthew 25:14-30) illustrates the joy accompanying the final accounting of responsible stewards.

Invaluable gifts What must have been originally Jesus’ parable addressed to the religious leaders of his time about their responsibility in guiding the people has become an allegorical lesson to the Christians themselves about the accounts they would have to settle with the Lord at his second coming. The Master following the ascension has entrusted his disciples with goods to be used profitably. A “talent” is a monetary unit of huge amount, equivalent to 6,000 denarii or drachmas. With a denarius as a day’s wage, a talent equals a lifetime’s earning. The servant who received 5 talents got enough income for several lifetimes.

The point is that the servants have been entrusted with invalu-

able gifts by their Master. Each received “according to his ability” enough capital to be made productive. Here we realize that Jesus has indeed entrusted to us gifts of incredible value: his Gospel, his sacraments, his own friends of outstanding merits like the saints including Mary his own mother, and above all his greatest gift of all, the Holy Spirit. What have we been doing with them? What have we accomplished with them and through them?

Good and faithful servants

When the Master returned and settled accounts with his servants, his joyous recognition of the accomplishment of his responsible servant rang out in his “Well done, my good

Thursday, November 12, 2020 A7

and faithful servant!” Wherein lies the good work of the faithful one?

“You were faithful in small matters”—It is fidelity to the obvious intention of the Master that his gifts be made productive and beneficial all around. Whatever good one may have received more can and should be made out of it. It is irresponsibility to deviate from this purpose of the owner. Hence the servant who did nothing but dig a hole in the ground and bury the talent he was left with, got from the Master the response: “You wicked, lazy servant… Throw this useless servant into the darkness outside!”

Yes, what have we been doing with the gifts entrusted to us? Have we enterprisingly made more goods?

They clearly are not for one’s benefit only. The good they do me should be multiplied by benefiting others as well. What is for me is for others too.

I am given them ahead of others so that I can be as conduit to them. The goods given the faithful are ministerial. They are not to be accumulated as though for one’s self solely, but rather to be husbanded and invested wisely and ingenuously to benefit as many as possible.

Alálaong bagá, in the final reckoning with us we face the challenging statement from our Master: “To everyone who has, more will be given

and he will grow richer, but from the one who has not, even what he has will be taken away.” The lazy servant, who earned nothing with what he has been entrusted with and who has no fruits of love and goodness to speak of, wasted and did not use the talent and the time given him; he claimed to be paralyzed by his own fear of the Master, and ended up with that capital for so much good being taken away from him. He was not invited to share his Master’s joy; he was thrown outside into the darkness of everlasting loneliness and regrets. In contrast, the eschatological glory is the “more” that the faithful, responsible servant will be given.

For all the disciples who are wise and faithful stewards of the invaluable gifts entrusted to them, there can only be eternal treasures in the communion of life and love with the Master. The capital entrusted to them will even be doubled, and they will in fact become richer being asked to do more for more people and already now! The time before the return of the Lord is the time for active, fruitful waiting, rich with opportunities to become channels of grace to so many hungry for the divine love and mercy.

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.

Rethinking economic integration: Will Asean choose another growth path?

redistribution of resources to improve people’s access to health care and quality education.

In the above meeting with the CSOs, Ostry blurted out toward the end of the dialogue: there is a need to re-think economic and financial integration. We then asked him: what is his model for economic integration, for an alternative program of integration. We pointed out that in the Asean, those in charge of crafting programs for economic and financial integration have equated integration to the simplistic neo-liberal programs of liberalization and deregulation of markets, capital flows and so on. Thus, the blueprints for the Asean Economic Community reduce the task of building one “Asean Economic Community” or AEC to opening up economies of Asean countries via uniform tariff reductions, removal of non-tariff barriers, mutual recognition agreements for goods and skills, and so on.

And yet, it was economic financial deregulation in the 1990s that many economists consider as the culprit for the 1997-1998 Asian financial crisis. The AFC, in turn, is now seen as the “dress rehearsal” for the bigger global financial crisis (GFC) that hit America, Europe and the world in 2007-2010. The deregulation of the financial sector was the object of attack by the predatory financial speculators, which pose as FDIs and yet do not invest on the real economy (industy and agriculture) to create jobs and values. They invest on stocks, money markets, commodity futures, changing land prices and so on, and leave the market as soon as

they are able to harvest easy earnings from their speculative activities.

In many cases, they create artificial market bubbles to inflate their earnings, and then leave once they have collected their earnings, creating in the process collapsing markets for the hapless host economies.

Somehow, Ostry was taken aback when the question of an alternative model was posed to him. He did not give any concrete or definitive answer to the question of an alternative model. But if the IMF is serious in doing a serious rethinking, he and his colleagues should take a look at the Asean economic program and the critique advanced by the CSO participants in the APF 2020. In the joint statement by the 1,200 participants, they gave a vivid outline of the evolving economic landscape in the Asean today, as follows: n Growth fuelled mainly by foreign speculative investments, rising consumerism and overseas workers’ remittances; n Widening wealth concentration amidst worsening hunger and food insecurity; n Poverty surging due to the surging Covid-19 pandemic, which has affected the livelihoods of 218 million, especially of women; n Disaster capitalism rearing its ugly head under the pandemic as big corporations try to take over lands and resources of impoverished peasants, indigenous peoples, rural poor and urban poor; and n Economic contraction triggering high levels of debt that can worsen the situation of borrowing countries.

On Asean economic integration, the Forum participants noted that over two decades of intra-Asean trade liberalization have not delivered greater intra-trade because statistics indicate that the volume has remained

stuck at 25 percent since 1985. With the China-led Regional Comprehensive Economic Partnership, they predict this will lead to deeper inequalities among Asean members and between the Asean and the non-Asean RCEP trade partners. As we wrote earlier, India saw the likely adverse trade impact by RCEP on India’s industrial and agricultural producers; hence, without so much ado, India decided to withdraw from the RCEP. With the Covid pandemic and the failure of the Asean to meet integration targets in 2015 and 2020, is it not time then for the Asean to rethink, indeed, the existing program of economic and financial integration? In the first place, Asean is composed of 10 countries with 10 different levels of development. One of the goals of integration is to close the gaps among the 10 member-states.

There are no indications of progress in this area despite over two decades of aimless economic liberalization and deregulation. In fact, the gaps have been widening and deepening between and among these 10 countries, with Singapore and Brunei at the top (over $60,000 per capita) and Laos and Myanmar ($2,500 plus per capita). If the much-delayed Asean Financial Integration is pushed, more inequalities are likely to happen, with the big banks of Singapore, Malaysia and Thailand lording over the region, together with the global banks such as Citibank and HSBC. What the APF 2020 participants propose is a dialogue between the CSOs and the Asean on alternative community building at the regional level. On the economic front, the proposal is building Social Solidarity Economy network across the region.

The SSE model is focused on strengthening solidarity ties among social enterprises and socially-oriented firms that are dedicated to the promotion of sustainable development based on the five Ps propounded in the UNDP’s SDGs: People, Planet, Prosperity, Peace and Partnership.

More on SSE model in the next column. Meantime, we urge Ostry and his colleagues as well as the Asean governments and their economic planners to listen to what the people at the grassroots are saying. Read the Joint Statement of the APF 2020.

fine fair. China probably thinks “one nation, one vote” is not fair. The US probably thinks it is not fair that China’s one vote can veto any Security Council action. And when it comes to

the UN voting for the UN leader, any permanent member can also block the selection of a Secretary-General by the General Assembly. Democracy, any way it is conducted, is messy.

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.

Dr. Rene E. Ofreneo

LABOREM EXERCENS

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n November 5 to 7, over 1,200 delegates from over a hundred CSOs in 11 Southeast Asian countries gathered in a “virtual conference” to discuss grassroots people’s issues across the region. The theme of the Asean People’s Forum 2020 has a very clear message to the Asean governments: “Southeast Asian People’s Solidarity for an inclusive, cohesive and responsive community.”

Right after the People’s Forum, November 10, the International Monetary Fund (IMF) conducted a “virtual dialogue” with representatives of CSOs across the Asia-Pacific.

The topic of the dialogue: “Economic impact of Covid-19 in the region and the policies needed for the recovery”.

For the dialogue with the CSOs, the IMF brought in Jonathan Ostry, deputy director for research. Ostry is considered a “social reformer” in the IMF. He has been writing about financial globalization and inequality and has contributed to the supposed change in the IMF’s obsessive and one-sided attention on the financial side of the macro-economic equation. Such obsession often leads to the adoption by indebted countries of the debilitating austerity or belttightening programs, which have been the standard IMF economic recipes for debtor countries. Under Christian Lagarde, the former IMF managing director, any negative social and economic outcomes from IMF’s lending projects such as gender discrimination and rise in economic inequality are now considered “macro-critical,” subject to critical IMF assessment of the loans.

Ostry has written books and articles questioning unregulated capital flows and how this has given rise to social inequality. Accordingly, some kind of a balance should be established on how much austerity and market deregulation to adopt and what are the policies needed to tame runaway inequality and foster more inclusion in the growth process. One of his favorite topics is the role of redistribution policy, for example,

Mangun. . .

continued from A6

Is the Electoral College fair? De-

We pointed out that in the Asean, those in charge of crafting programs for economic and financial integration have equated integration to the simplistic neoliberal programs of liberalization and deregulation of markets, capital flows and so on.

A8 Thursday, November 12, 2020

‘Shield Malampaya gas from forex, world markets impact’ T

By Lenie Lectura

@llectura

HE Manila Electric Co. (Meralco) strongly suggests the review of Malampaya gas prices to reduce exposure to foreign exchange and world oil prices.

Meralco utility economics head Lawrence Fernandez said Malampaya gas, while indigenous, is priced wholly in US dollars and is indexed to a substantial extent to world crude oil prices. In these aspects— being priced in foreign currency and having prices that move up or down with world oil prices—Malampaya acts like an imported fuel, Fernandez said.

“Our recommendation is more on the price structure rather than the levels/figures themselves. Currently, Malampaya pricing is wholly in dollars, even though the resource is domestically located and many of the consortium costs are increasingly local,” Fernandez added.

“As a result, for example, when the Peso depreciated from around P40:$1 in January 2013 to about P56:$1 in mid-2018, the peso cost of Malampaya fuel became more expensive by 40 percent. Thus,

while Malampaya is indigenous, the country is not fully realizing savings in foreign currency,” explained Fernandez.

Further, Malampaya’s price goes up or down with world crude oil prices. “Thus, when geopolitical factors in, say, the Middle East, push up crude oil prices, Malampaya’s price also goes up. Even though the resource is indigenous, its pricing structure does not fully shield the country from volatility of world oil prices,” he added.

While natural gas from Malampaya accounts for around 29 percent of power generation in Luzon, it accounts for about 50 percent of Meralco’s supply to its captive market.

Meralco has Gas Supply and Purchase Agreement (GSPA) with four of the five power plants that use Malampaya for fuel. “We are not certain how a new Gas Supply and Purchase Agreement will be made.

For the existing GSPAs, the offtakers are NPC [for the Ilijan plant] and First Gas. Meralco is actually not a party to the GSPAs,” said Fernandez.

Meralco, he said, recognizes the strategic value of an indigenous source of energy, like the Malampaya gas field. Meralco, along with NPC, in the 1990s provided the guaranteed or take-or-pay market for the gas-to-power projects that underpinned the Malampaya project.

“Still, the field does provide a measure of energy security. At the same time, however, we would like to note that the Luzon Grid has experienced generation adequacy concerns when supply from Malampaya is temporarily halted or restricted during periods of extended maintenance works on the platform or the pipeline,” he said.

The gas field will undertake maintenance activities on November 14 to 27. During these days, the gas plants will shift to more expensive liquid fuels. In turn, it could drive power rates higher.

“We are hoping that there will be more than enough reserves in the system and that no other power plants go on outage at the same time so there will be little pressure on

spot market prices to go up during that period,” explained Fernandez.

Large share in mix

Malampaya’s large share in the power supply mix implies that when it is on maintenance, on forced outage or there is gas restriction, there may be instances of Yellow or Red Alerts in the Luzon grid, resulting in price spikes in the WESM (Wholesale Electricity Spot Market). This is especially true when the grid does not have enough reserve capacity to ensure continuity of power supply.

Early this week, Meralco announced a dow nward adjustment in November power rates by P0.0395 per kWh, from last month’s P8.5500 per kWh to P8.5105 per kWh this November. This is equivalent to a decrease of around P8 in the total bill of residential customers consuming 200 kWh. Meralco attributed this to the decline in generation charge. From P4.2233 per kWh in October, the company said the generation charge decreased by P0.0215 per kWh to P4.2018 per kWh this November.

The company also said lower Malampaya natural gas prices— due to its quarterly repricing and a slight peso appreciation— resulted

in the cost of power from the Independent Power Producers (IPPs) to decrease by P0.0842 per kWh. Meanwhile, charges from Power Supply Agreements (PSAs) inched up by P0.2118 per kWh partly due to the forced outage of San Gabriel during the supply month.

WESM, IPPs, and PSAs accounted for 12 percent, 35 percent, and 53 percent of Meralco’s energy requirements, respectively.

Meralco has said it will not implement any disconnection on account of nonpayment of bills until December 31, 2020, for consumers with monthly consumption of 200 kWh and below.

For all other customers, consuming 201 kWh and up, Meralco said it will comply with ERC’s advisory mandating a minimum 30-day grace period for all payments falling due within the period of enhanced community quarantine (ECQ) and modified enhanced community quarantine (MECQ), without incurring interests, penalties and other charges.

Any unpaid balance after the lapse of the 30-day grace period shall be payable in three equal monthly installments without incurring interests, penalties and other charges.

OWWA PAYS HOTELS HALF OF P241-M BILLS FOR OFWs

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HE Overseas Workers Welfare Administration (Owwa) was finally able to pay more than half of its P241-million unpaid bill from hotels, which accommodated overseas Filipino workers (OFWs) during the novel coronavirus disease (Covid-19) pandemic.

Labor Secretary Silvestre H. Bello III said Owwa opted to make the partial payment since it is still in the process of verifying some of the billings from the said establishments.

“We will be very meticulous in the verification because if there is an overpayment, our personnel might be jailed for it,” Bello said in an online press briefing on Wednesday.

Owwa Administrator Hans Cacdac has already committed to settle the remaining balance of their debt from the concerned hotels by November 17, 2020, according to Bello.

“Administrator Cacdac committed that by Tuesday next week, it will be fully paid,” Bello said.

To recall, Owwa said it is targeting to complete the payment by this week after some of the affected hotels warned they might stop accommodating the OFWs. Bello said they already informed the hotel owners of their plan and have opted to wait for the complete payment from Owwa.

Cacdac earlier said they have sufficient funds to settle their unpaid bills with the said hotels. Samuel P. Medenilla

M3, bank lending both post tame Sept growth numbers

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ASH circulating in the local economic stream, as well as bank lending activity, both recorded tame growth numbers in September—indicating a subdued economic climate in the country during the period.

Latest numbers from the Bangko Sentral ng Pilipinas (BSP) showed that domestic liquidity—broadly measured as “M3”—grew 12.3 percent to P13.5 trillion in September.

This is slower than the 13.7-percent growth seen in the previous month.

A growing cash supply is often beneficial for an expanding economy such as the Philippines, as it provides fuel to the productive sectors of the country.

However, an excessively slow growth in M3 could be detrimental to the country’s overall growth, especially if it is not enough to fuel productive activities.

Bank lending—one of the primary drivers of domestic liquidity —grew at 2.8 percent in September, weaker than the 4.7-percent growth in August. The BSP said the general decline in bank growth partly reflects banks’ reduced tolerance for risk, decline in loan demand due, in turn, to weak business and income prospects and observed shift by non-financial corporates to alternative sources of funds.

Loans for production activities also grew meagerly at 2.4 percent during the month. Broken down, most sectors showed a deceleration of loans received.

Outstanding loans to key sectors also continued to contract, particularly in manufacturing which contracted by 2.6 percent, as well as wholesale and retail trade and repair of motor vehicles and motorcycles which contracted by 3.4 percent.

Meanwhile, the following sectors contributed to the overall growth in production loans: realestate activities grew 7.3 percent; information and communication grew 9.7 percent; electricity, gas, steam, and air-conditioning supply grew 3 percent; and transportation and storage grew 8.4 percent.

Loans to human health and

social work activities grew the most at 44.5 percent during the month.

Similarly, loans to households expanded at a lower rate of 10.2 percent in September from 12.9 percent in August mainly due to the continued slowdown in credit card and motor vehicle loans during the month.

Decline in capital formation

ING Bank Manila Senior economist Nicholas Antonio Mapa said the slowdown in bank lending mirrors the decline in capital formation as seen in the recent announcement of the country’s GDP print.

“The deceleration in bank lending reflects the current trends reported in the GDP figures yesterday with capital formation cratering as both firms and corporates hold back big-ticket investments to wait out the storm. These trends are also mirrored in the import numbers, which show substantial falls for capital goods and durable equipment as investors turn gun shy on making big bets given the economic recession,” he said.

“Unfortunately, even the government appears shy to spend in a big way with government spending expected to trend lower to close out 2020. With investment momentum fading, the economy will be lacking its top two key sectors in the quarters to come, which does not bode well for growth prospects down the line,” he added.

Expect further deceleration

In Mapa’s view, the fact that the country’s bank lending rate is still decelerating despite the BSP’s efforts point to a continued trend in the coming months.

“BSP has been busy in the past few weeks, rolling out a potent mix of conventional and unconventional easing measures to support the recovery. Despite all these efforts, low interest rates, bond market presence and copious liquidity, it appears that monetary policy has run its course with bank lending failing to respond to this very aggressive bouts of easing,” Mapa said. Bianca Cuaresma

A security guard at the Bureau of Plant Industry in Manila picks leaves of Lagundi, a local herb traditionally used in the treatment of cough and asthma. The Food and Drug Administration has approved the conduct of clinical trials for Lagundi as a mode of adjuvant therapy for the treatment of coronavirus. Aside from Lagundi, the Department of Science and Technology is also looking into the effectiveness of other traditional herbal medicines such as virgin coconut oil and Tawa-tawa. NONIE REYES

Mining industry seen to help boost recovery amid Covid

By Jonathan L. Mayuga @jonlmayuga

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INING stakeholders are one in saying that the industry is in a unique position to help the Philippines recover from the economic setbacks caused by the Covid-19 pandemic and boost development in the countryside given the right policy environment.

Speaking at the online forum Wednesday Roundtable@Lido, Undersecretary for Enforcement, Mining and Muslim Affairs Jim Sampulna of the Department of Environment and Natural Resources (DENR) said amid Covid-19, the industry is prospering but is meeting problems along the way.

Nevertheless, he said the min-

ing industry is “our last card as far as the economy is concerned,” underscoring the country’s richness in terms of minerals.

Ronnie Recidoro, executive director of the Chamber of Mines of the Philippines (COMP) agreed.

“If you look at the events that unfolded after March, the mining industry responded well to this pandemic outbreak. Almost all mining companies have zero Covid cases,” he said.

Recidoro said the mining industry continues to provide employment in the countryside; and training, capacity building where they are needed most, hence, putting it in a very unique position to boost economic recovery and growth.

“Mining operates in the remote

areas where we provide training, capacity building, for people who really need it. We are uniquely situated,” he said.

Amid the pandemic, the mining industry responded to the government’s call for help.

Mines and Geosciences Bureau Director Wilfredo Moncano said the MGB issued a circular on the minimum health protocol for mining companies—in conformity with the Inter-Agency Task Force on Emerging Infectious Diseases— while continuing their operation.

Moncano added that in the height of Cov id-19, the MGB thought it prudent to push for realigning the Social Development Management Program (SDMP) funds of operating mines to help

communities cope with the challenge of the pandemic—instead of for the usual information, education, and communication and other programs.

He said the mining companies, since March, were able to contribute P364 million, “in terms of food packs, sanitizers, and other support to their host, and “a laboratory/chemical laboratory to test Covid cases.”

Moncano said DENR Secretary Roy A. Cimatu is pushing for the industry to help in the economic recovery.

“We know that the Philippines is now borrowing money to support affected areas for vaccines.... We thought that to push for the mining industry to help in the recovery of the economy,” he said.

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Thursday, November 12, 2020

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Pilipinas Shell incurs net loss of ₧13.9B

By Lenie Lectura

P

@llectura

ilipinas Shell Petroleum Corp. (Pilipinas Shell) reported Wednesday a net loss of P13.9 billion in January to September from a net income of P4.4 billion in the same period a year ago.

The oil company mainly blamed the weak performance on the P7.5-billion one-off charges in the third quarter.

Excluding these one-off charges relating to its Tabangao refinery transformation, its net loss should have been P6.4 billion.

The oil firm earlier announced the cessation of its manufacturing operations and conversion of its refinery into an import facility.

Pilipinas Shell suffered P5.7 billion in inventory losses, it said.

In the midst of the Covid-19 pandemic, the oil firm still posted savings of P2.5 billion by the end of the third quarter, exceeding its cash conservation target of P2 billion by year-end. Savings of P1.2 billion were generated from operating expense, with P1.3 billion from capital expenditure.

Pilipinas Shell said it remains optimistic as the country slowly relaxes quarantine restrictions.

“The wins are coming in gradually as more businesses operate at increased capacity in the areas of manufacturing and transportation, to name a few.

Our balance sheet, technical capability and resources are solid and serve us well in continuing to provide Filipinos with high-quality fuel products despite the challenging economic environment and to make the right sustainable decisions to protect the long-term interests of our shareholders,” said Cesar G. Romero, company president and CEO. Pilipinas Shell’s 54ML-capacity terminal in Subic became op-

Shakey’s losses widen on weak Q3

By VG Cabuag @villygc

S

hakey’s Pizza Asia Ventures Inc., a company that owns the pizza parlor brand in the country and in parts of the region, said its losses deepened in January to September to P461.91 million, a reversal of last year's income of P550.42 million.

The company said revenues for the January-to-September period were slashed by more than a third to P3.82 billion from last year's P5.89 billion.

“Though there remain challenges in the overall environment, we are nevertheless pleased to see a gradual improvement in demand. Our re-

PSALM seeks bids for Paco property

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he property of the Power Sector Assets and Liabilities Management Corp.

(PSALM) in Paco, Manila, is now up for a negotiated bid.

The state firm has set the bid offer submission deadline on December 2 for the 20,975-square meter property, which is composed of eight lots. This used to be the site of the former Manila Thermal Power Plant in Isla de Provisor, Paco, Manila.

PSALM has set the minimum offer price at P458,337,002.30. This is now lower than the minimum bid price of P513,439,000 when the state firm held an auction last September.

The agency had said that in the event public bidding is declared a failure due to the participation of only one bidder, the lone bidder’s bid shall be considered an offer to buy the property through negotiated sale.

“The financial offer of the interested party with the highest offer must be equal to or higher than the minimum offer price in order to qualify as the winning interested party,” PSALM said.

The negotiation is open to any individuals, corporation, cooperatives or partnerships. Those who were previously disqualified from participating in other bidding or negotiated sale activities of PSALM are also disqualified to participate.

The state firm has set on November 19 the pre-negotiation conference.

The winning bidder shall pay for all taxes, fees and other charges due on the sale transaction.

Proceeds from the sale of PSALM’s assets will be used to augment funds to settle the state firm’s assumed financial obligations. Lenie Lectura

covery rate in the third quarter has been better than expected, mainly driven by the sustained healthy growth of our off-premise business and a marked improvement in dinein sales,” Vicente Gregorio, the company’s president and CEO, said.

For the July to September quarter alone, the company led by the Po family incurred a P171.95-million loss from last year's income of P161.8 million.

Revenues, meanwhile, were cut in half to P1.06 billion from the previous P2.04 billion.

“Since dine-in resumed in June, we have seen a gradual increase in store traffic thanks to strict implementation of health and safety pro-

tocols within our stores and a gradual easing of mobility and capacity restrictions by the government. We look forward to seeing continued improvement, most especially with the arrival of ‘–ber’ months, traditional periods of celebration in the Philippines,” Gregorio said.

The company said its systemwide sales for the third quarter stood at P1.4 billion, or just about half of last year’s sales. Same-store sales growth for the 9-month period was at negative 28 percent, the company said.

The company said it expects to post earnings for the last three months of the year.

Shakey's, which also owns other brands other than the pizza parlor,

started offering R&B milk tea, one of the leading milk tea brands in Singapore, through its various outlets. It has successfully rolled out the brand in 30 stores, with at least 100 more outlets to be added in the next few months.

“With the worst of this crisis hopefully now behind us, we are setting our medium and long-term priorities, establishing plans to win in a postCovid world by building a stronger and better Shakey’s,” Gregorio said.

“We are energized by the positive reception to our recent initiatives and we will continue to strive to not only meet, but exceed our guests’ evolving needs and expectations in this new normal.”

First Gen 9-month income declines

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IRST GEN Corp.’s net income in January to September dropped 11 percent to $196 million (P9.9 billion) from $220 million (P11.5 billion) in the same period a year ago, mainly due to lower electricity sales.

It reported on Wednesday that revenues from the sale of electricity during the period declined to $1.363 million (P68.6 billion) compared to $1.616 million (P84.2 billion) a year ago.

The natural gas portfolio accounted for 60 percent of First Gen’s total consolidated revenues.

“Revenues were 19 percent lower in the first three quarters of 2020 mainly due to lower average natural gas prices coupled with a decline in the gas plants’ dispatch. The Avion power plant did, however, generate fresh revenues from its ancillary service sales,” the company said.

Revenues from its subsidiary, Energy Development Corp. (EDC), stood lower at $43 million (P3.1 billion) at end-September this year from $547million (P28.5 billion) in the same period last year, mainly due to the lower prices at

the Wholesale Electricity Spot Market (WESM). This accounts for 37 percent of the company’s consolidated revenues.

First Gen Hydro Power Corp., owner of the 132-MW Pantabangan-Masiway hydroelectric power plants, generated weaker revenues at $26 million (P1.3 billion) from $37 million (P1.9 billion) due to lower WESM sales in terms of volume and price. The hydro plants account for 2 percent of First Gen’s total consolidated revenues.

Meanwhile, First Gen’s recurring net income attributable to equity holders stood at $190 million (P9.6 billion) in January to September, down 12 percent from $217 million (P11.3 billion).

Despite this, the company said it is pushing through with its LNG (liquefied natural gas) development, saying the entry and ready access of affordable LNG supply from other gas-producing countries is a key initiative towards the decarbonization program for the Philippines.

“First Gen is gaining a lot of positive momentum in developing its

LNG platform. We very much appreciate receiving the DOE’s [Department of Energy] approval of the Permit to Construct, Expand, Rehabilitate and Modify for the construction of an Interim Offshore LNG Terminal (IOT Project) in the First Gen Clean Energy Complex in Batangas last September.

We likewise signed a Joint Cooperation Agreement with Tokyo Gas for the joint development of the IOT Project. Since then, we have selected McConell Dowell as the preferred tenderer for the EPC [engineering, procurement and construction] of the IOT Project and have announced our plans to explore the viability of small-scale liquefied natural gas solutions in our industrial park,” First Gen President and COO Francis Giles B. Puno said.

The company said it is confident that economy will recover from the effects of the lockdown, as it sees a recovery in power demand in the third quarter.

First Gen has 3,492MW of installed capacity in its portfolio, which accounts for 21 percent of the country’s gross generation. Lenie Lectura

EastWest 9-mo net income surges

By Tyrone Jasper C. Piad @TyronePiad

B

ucking the trend in the banking sector, East West Banking Corp. ended the January-to-September period with a 28-percent growth in net earnings.

The Gotianun-led bank said in a disclosure on Wednesday that its profits reached P5.9 billion as of end-September, which is higher compared to P4.6 billion last year in the same period, thanks to higher net interest margins and trading gains.

Net revenues for the period, meanwhile, climbed by 27 percent to P26.7 billion.

Accounting for 75 percent of the topline figures, net interest income soared by 33 percent to P20.1 billion because of lower funding costs. This resulted in a net interest margin of 8.3 percent.

Non-interest income rose 13 percent to P6.6 billion on the back of a three-fold surge in fixed

income securities trading gains. Fees and commissions, meanwhile, declined by 25 percent to P3 billion amid a slowdown in business activities.

Total reserves for probable credit losses were hiked by three times to P7.7 billion yearon-year in January to September. The listed bank said that putting up elevated provisions is pre-emptive in nature as cash flows of the borrowers are expected to be adversely hit by the current crisis.

In June, the bank said that its bad loans provisions are likely to reach P10 billion this year, which is close to 4 percent of its loan portfolio.

Excluding provisions for doubtful accounts, operating expenses slid 3 percent to P12 billion.

“We now revise our net income estimate for the year to at least P7 billion,” EastWest CEO Antonio C. Moncupa, Jr. said. “While we expect net interest margins to hold and income before Loan Loss Provisions to trend higher, there are still epidemiological uncertainties from the virus and its full economic impact is

still playing out.”

As of end-September, the bank’s assets grew by 4 percent to P403.7 billion.

EastWest saw its loan portfolio skid by 6 percent to P246.5 billion during the period, mostly because of “contractual maturities and lower working capital requirements of corporate loan borrowers.” Total maturities reached P10 billion.

Meanwhile, deposit liabilities improved by 11 percent to P324.3 billion as the low-cost current account-savings account picked up by 26 percent to P211.5 billion.

EastWest's capital adequacy ratio and common equity tier 1 in the January-to-September period stood at 13.5 percent and 12.3 percent, respectively, which are both above regulatory requirements.

Shares in EastWest inched up by 0.79 percent, or 8 centavos, to close at P10.20 each amid the 0.16-percent drop for the benchmark index on Wednesday.

erational last October to serve the demand of Northern Luzon, with the Tabangao Import Facility in Batangas serving Luzon and Northern Visayas, and the Northern Mindanao Import Facility in Cagayan De Oro serving the rest of the Visayas and Mindanao.

The company said it now has a more resilient network of three medium-range (MR) import terminals with sufficient finished products capacity to serve the demands of customers nationwide.

“The pandemic has forced us to rethink the way we do things, while ensuring the quality of service that Filipinos expect from

us. Hence, we shifted our supplychain strategy from manufacturing to full import-based operations to allow us to enhance our cost and supply-chain competitiveness, and leverage Shell’s portfolio of assets and highly competitive Global Products Trading Network.”

He added that the oil firm plans to re-invest at least P1 billion in the next few years to fully transform Tabangao into a world-class import facility that will support its marketing growth aspirations.

Pilipinas Shell continues to expand its retail network, with 1,135 sites nationwide to date.

Villar lands on Forbes’ list of philanthropists

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anuel B. Villar Jr., a former politician who is currently at the helm of his family’s business, is in Forbes Asia magazine’s list of businessmen in the region who are helping the needy, especially during the pandemic.

In its article titled “Heroes of Philantropy,” the magazine listed 15 richest people in Asia Pacific and focused on their philanthropic efforts to their respective causes.

Villar, who heads property developer Vista Land and Lifescapes Inc., were listed alongside Hong Kong’s Li Ka Shing and Japan's Fast Retailing chief Tadashi Yanai, both of whom gave huge sums to battle the pandemic.

“The head of one of the country’s largest developers gifted more than 2 hectares of land to Manila’s Saint Jude Catholic School last year and finalized the donation of 5 hectares to the University of the Philippines, Villar’s alma mater, for an innovation campus,” the magazine said. The two parcels have a combined value of P8 billion.

He also contributed to new facilities at 4 local schools, it said.

“Education can uplift our people from poverty. It can provide dignity and jobs,” the magazine quoted Villar as saying. Smaller donations have gone to churches, poverty alleviation

and the fight against Covid-19, which included protective equipment and converting buildings into quarantine facilities, the magazine said.

The magazine didn't rank the businessmen on the list, but cited their notable efforts to combat Covid-19.

Li Ka-shing, for instance, gave some HK$250 million (or about $32 million) into various forms of aid through his foundation, including HK$100 million to communities in Wuhan in China.

Japan’s Yanai, who heads the company that operates Uniqlo stores, gave $105 million to 2 universities in Japan, most of which will be used to facilitate research on diseases and to develop a vaccine for the coronavirus.

Meanwhile, Vietnam’s richest man Pham Nhat Vuong donated $77 million alongside his charity to fund Covid-19 relief, as well as educational scholarships and healthcare programs around his country, it said.

“Our goal is to capture individual philanthropists who are donating from their personal fortunes. Thus the list doesn’t include donations made by companies of Asia’s richest tycoons unless the giving was made through a privately held company in which they are the majority owners,” the magazine said. VG Cabuag

PAL cancels flights due to Ulysses

By Recto L. Mercene @rectomercene

F

lag carrier Philippine Airlines (PAL) said it canceled two domestic flights—the ManilaLegaspi-Manila flights (PR 2923/2924)—on Wednesday due to Typhoon Ulysses.

PAL said it will also cancel 8 international and 7 domestic flights on November 12 “for the safety of passengers and crew.”

International flights facing cancellation as of Wednesday are: *PR511 Manila-Singapore *PR502 Singapore -Manila *PR890 Manila-Taipei *PR891 Taipei-Manila *PR412 Manila -Osaka Kansai *PR411 Osaka Kansai-Manila *PR428 Manila-Tokyo Narita *PR427 Tokyo Narita-Manila The 7 domestic flights canceled as of Wednesday are: *PR1845 Manila-Cebu *PR453 Manila-General Santos *PR1813 Manila-Davao *PR2521 Manila-Cagayan de Oro *PR2997 Manila-Zamboanga *PR2985 Manila-Tacloban *PR2959 Manila-Cotabato PAL spokesperson Cielo Villaluna said Ulysses (international name Vamco), is predicted by the weather bureau to directly affect parts of the Philippines.

Further changes are expected due to the developing situation, PAL said.

PAL said it will closely monitor the typhoon situation and will provide updates on further changes. “Please continue to monitor the status of your flights by logging on to www.philippine-

BusinessMirror file photo

airlines.com or checking further advisories on our official PAL Facebook page.”

Even after the typhoon recedes and weather improves, Villaluna said it may take some time to restore normal schedules, “as we would need to reposition aircraft and undertake other operational adjustments based on the revised slots and clearances at the affected airports, in coordination with the airport and air traffic control authorities.”

PAL requested passengers not proceed to the airport “if your flight is cancelled, but instead avail of the rebooking options.”

“If your contact details are in our reservations records, you will be informed of the status of your flights via e-mail, telephone call or SMS/text.”

PAL said passengers have the option to rebook on the flight of their choice (on the same cabin class) within 30 days from original travel date with rebooking service fees waived.

They also have the option to refund their ticket cost within 30 days from original travel date. PAL said passengers may convert their ticket to a travel voucher for future use.

PAL said if a flight is cancelled and passengers need to take another Covid-19 test for their new flight schedule, they may undergo RT-PCR testing at the Philippine Airlines Learning Center (PLC) at 540 Padre Faura cor. Adriatico St. Ermita, Manila.

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Companies BusinessMirror

Thursday, November 12, 2020

PSE STOCK QUOTATIONS

November 11, 2020

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

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

44.7 94.25 84.3 24 10.2 45 17.1 28.3 53.5 17.92 107 61.55 0.82 28 3.5 1.15 0.3 760 0.59 161.5 2050

44.85 94.3 84.35 24.45 10.36 45.05 17.56 28.35 53.55 17.96 107.1 61.7 0.92 28.1 3.56 1.17 0.315 777 0.61 162 2080

44.6 94.8 83.5 24.1 10.14 43.3 17 28.4 52.15 17.86 106.2 61.5 0.91 28.1 3.35 1.12 0.3 777 0.61 161.8 2030

44.7 98.15 92 24.45 10.42 45 17 28.5 53.5 17.96 108 61.8 0.95 28.1 3.56 1.17 0.3 777 0.62 162 2050

44.6 92.1 83.5 24 10.14 43.2 17 27.9 52.15 17.86 105 61.5 0.8 28 3.34 1.12 0.3 777 0.61 160 2030

44.7 94.3 84.35 24 10.2 45 17 28.35 53.5 17.96 107 61.55 0.92 28 3.56 1.16 0.3 777 0.61 162 2050

600 17,767,300 1 15,395,920 1 168500 1131100 17002500 3200 819500 6690 176800 2207860 26580 61173000 8500 22000 110000 60000 730 95000 6060 455

26790 ,698,996,276.5 ,312,332,124.5 4063305 11637194 757596855 54400 23089550 353229 3168552 235878791 1638225.5 48946370 238530 75200 124380 18000 567210 58010 977290 930050

214932613.5 105067456 206354 -53255850 -11715050 -1467402 109652777 -643236 324000 919800

INDUSTRIAL AC ENERGY 4.33 4.34 4.15 4.45 4.15 4.33 27550000 119342060 ALSONS CONS 1.44 1.46 1.45 1.46 1.41 1.46 4713000 6798320 27.45 27.5 28 28 27.5 27.5 3244100 89772510 ABOITIZ POWER BASIC ENERGY 0.219 0.22 0.216 0.22 0.215 0.22 2840000 620390 29 29.2 28.9 29.5 28.4 29.2 2310300 66996170 FIRST GEN FIRST PHIL HLDG 66.1 66.3 64.8 66.3 64.8 66.1 23720 1560973.5 310.4 312.8 310 313 309.2 310.4 156270 48528732 MERALCO MANILA WATER 14.1 14.12 14.2 14.2 14.08 14.12 1017400 14391288 3.19 3.2 3.2 3.25 3.18 3.2 4417000 14160010 PETRON PETROENERGY 3.31 3.55 3.44 3.55 3.4 3.55 59000 204670 13 13.12 12.96 13.14 12.96 13.14 168700 2205696 PHX PETROLEUM PILIPINAS SHELL 16.7 16.76 16.8 16.8 16.5 16.7 842400 14065204 10.64 10.68 10.8 10.8 10.08 10.64 597800 6,307,402( SPC POWER VIVANT 13.4 14.48 13.4 14.48 13.4 14.48 400 5468 8.04 8.13 8.11 8.17 8.04 8.15 396800 3224985 AGRINURTURE AXELUM 2.92 2.95 2.91 2.95 2.9 2.95 1380000 4018110 18.22 19 16.2 19.2 16.2 19 291600 5185890 CNTRL AZUCARERA CENTURY FOOD 17.02 17.16 17.46 17.48 16.98 17.16 3545400 60613744 5.07 5.08 5.15 5.15 5.03 5.08 94100 478116 DEL MONTE DNL INDUS 7.15 7.16 6.83 7.15 6.7 7.15 5804900 40436588 9.96 10 10.06 10.1 10 10 2379300 23807554 EMPERADOR SMC FOODANDBEV 63.75 63.8 63.85 63.9 63.7 63.8 268120 17109309 0.65 0.66 0.64 0.65 0.63 0.65 301000 192310 ALLIANCE SELECT FRUITAS HLDG 1.36 1.37 1.39 1.39 1.34 1.37 16830000 22791090 46.3 46.35 49 49 45.7 46.35 389800 18046095 GINEBRA JOLLIBEE 196.5 197 200.2 200.2 196 196.5 1316330 260145601 39 44.95 44.7 44.7 44.7 44.7 300 13410 LIBERTY FLOUR MACAY HLDG 7.65 7.7 7.7 7.7 7.65 7.65 3300 25295 6.79 6.8 6.76 6.8 6.45 6.79 1662700 11078483 MAXS GROUP MG HLDG 0.145 0.149 0.145 0.149 0.145 0.149 230000 33940 8.44 8.45 7.65 8.48 7.62 8.44 1148200 9160498 SHAKEYS PIZZA ROXAS AND CO 1.21 1.22 1.2 1.24 1.19 1.22 2786000 3384860 RFM CORP 4.73 4.83 4.83 4.83 4.83 4.83 1000 4830 1.85 1.86 1.81 1.88 1.8 1.86 83000 151600 ROXAS HLDG SWIFT FOODS 0.116 0.119 0.116 0.12 0.116 0.119 1200000 141010 152 154 149 154.9 147 154 1308450 198681574 UNIV ROBINA VITARICH 0.82 0.83 0.83 0.83 0.81 0.83 4335000 3558190 2.22 2.34 2.3 2.34 2.3 2.3 18000 41590 VICTORIAS CONCRETE A 51.75 53 53 53 53 53 230 12190 51.65 55.5 55.5 55.5 55.5 55.5 490 27195 CONCRETE B CEMEX HLDG 1.6 1.62 1.6 1.61 1.57 1.61 16549000 26439150 4.36 4.45 4.36 4.36 4.3 4.3 27000 117110 DAVINCI CAPITAL EAGLE CEMENT 16.1 16.12 16.02 16.12 15.9 16.1 5650300 90441838 7.78 7.79 7.5 7.78 7.48 7.78 940000 7218571 EEI CORP HOLCIM 5.96 5.98 6.04 6.04 5.91 5.98 3814700 22744815 8 8.15 7.6 8.32 7.51 8 23850700 189219373 MEGAWIDE PHINMA 8.11 8.35 8.34 8.39 8.3 8.39 7400 61763 0.78 0.8 0.79 0.81 0.77 0.8 601000 468380 TKC METALS VULCAN INDL 0.81 0.82 0.8 0.83 0.79 0.81 586000 472140 122.2 145 122.1 122.1 122.1 122.1 30 3663 CHEMPHIL CROWN ASIA 1.97 2 2 2 1.97 1.97 32000 63400 1.96 1.98 1.96 2 1.92 1.96 1451000 2842460 EUROMED MABUHAY VINYL 4.34 4.4 4.4 4.4 4.3 4.4 5000 21900 4.25 4.3 4.25 4.3 4.13 4.3 262000 1117090 PRYCE CORP CONCEPCION 21.05 21.6 21.3 21.5 21.3 21.5 1200 25640 2.63 2.64 2.6 2.65 2.58 2.64 14098000 36882510 GREENERGY INTEGRATED MICR 7.2 7.28 7.15 7.3 6.52 7.28 1027700 7194107 1.04 1.05 1.04 1.07 1 1.05 1316000 1370770 IONICS PANASONIC 5.07 5.4 5.49 5.49 5.49 5.49 200 1098 1.68 1.69 1.6 1.71 1.58 1.69 3483000 5764220 SFA SEMICON CIRTEK HLDG 6.48 6.49 6.18 6.5 6.01 6.49 16169500 101400482

3550630 -7250 15754815 -4230 -13359695 477641.5 4431192 594416 689890 -3387588 2,111,941.9997) -1113471 -143850 -1730 13043786 -22359 21475365 -1245506 -7891730.5 1080890 -16795950 -59821044 -204555 3820833 1104040 -6800 90611838 429110 -574990 -79946932 105905 -9344139 -73625209 159950 -196560 -562760 228148 -49699.9998 2867121

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 BHI HLDG COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.5 8.2 868 48.45 8.74 2.79 6.35 0.66 0.91 0.91 900.5 5.39 5.23 9.12 0.212 559.5 3.36 72 0.82 2.69 12.08 0.49 4.25 3.99 0.8 1.02 190 1049 106.9 0.73 127.1 0.221 0.147

0.51 8.57 870 48.5 8.75 2.8 6.49 0.67 0.92 0.94 1350 5.4 5.24 9.13 0.235 560 3.43 72.2 0.83 2.7 12.1 0.51 4.26 4.08 0.83 1.03 211 1050 107 0.74 129 0.23 0.149

0.5 8.84 825 48.5 8.5 2.78 6.32 0.66 0.9 0.94 901 5.4 5.17 9.35 0.24 529.5 3.45 73 0.82 2.7 12.18 0.52 4.29 3.9 0.8 1.02 173.5 1056 106 0.72 126.5 0.22 0.148

0.51 8.84 870 48.75 8.91 2.79 6.35 0.68 0.93 0.94 901 5.45 5.27 9.35 0.24 576 3.45 73.9 0.84 2.71 12.2 0.52 4.3 4.08 0.84 1.03 190 1090 109 0.74 127.1 0.231 0.148

0.495 8.03 821 47.9 8.33 2.75 6.32 0.66 0.9 0.94 901 5.37 5.11 9.13 0.235 517 3.36 71.15 0.8 2.69 12.02 0.49 4.23 3.9 0.8 1.02 173.5 1046 105.9 0.71 126.5 0.22 0.147

0.5 8.58 870 48.45 8.75 2.79 6.35 0.67 0.92 0.94 901 5.39 5.23 9.13 0.235 560 3.44 72 0.82 2.69 12.1 0.51 4.26 4.08 0.83 1.03 190 1049 107 0.74 127.1 0.23 0.147

8410000 34100 478290 1441500 13875000 2915000 233800 283000 3014000 11000 300 3530200 10024800 103400 350000 740560 24000 1945050 617000 1812000 7504700 173000 25565000 118000 1156000 35000 1790 1002865 675170 191000 5280 930000 1490000

4201500 281890 409019145 69927280 120212882 8085020 1484561 188130 2731040 10340 270300 19016361 52118579 944630 82870 403244470 82410 140751704.5 502360 4885890 90849686 85540 108835730 479240 939280 36030 329677 1056047505 72530602 137970 669631 208080 220150

PROPERTY

ARTHALAND CORP AYALA LAND ARANETA PROP AREIT RT BELLE CORP A BROWN CITYLAND DEVT CROWN EQUITIES CEBU HLDG CEB LANDMASTERS CENTURY PROP CYBER BAY DOUBLEDRAGON DM WENCESLAO EMPIRE EAST EVER GOTESCO FILINVEST LAND GLOBAL ESTATE 8990 HLDG PHIL INFRADEV CITY AND LAND MEGAWORLD MRC ALLIED PHIL ESTATES PRIMEX CORP ROBINSONS LAND PHIL REALTY ROCKWELL SHANG PROP STA LUCIA LAND SM PRIME HLDG VISTAMALLS SUNTRUST HOME VISTA LAND

0.6 38.25 1.05 25.95 1.56 0.81 0.82 0.146 5.8 4.68 0.38 0.4 13.96 5.41 0.285 0.086 1.03 0.86 8.13 1.58 0.68 3.62 0.435 0.375 1.15 16 0.25 1.51 2.68 1.86 38.25 4.17 1.3 3.82

0.61 38.3 1.09 26 1.58 0.83 0.83 0.147 5.99 4.7 0.385 0.405 14 5.43 0.295 0.089 1.04 0.87 8.15 1.59 0.72 3.63 0.44 0.395 1.17 16.02 0.265 1.55 2.72 1.9 38.3 4.27 1.32 3.83

0.58 37.65 1.09 25.9 1.56 0.83 0.83 0.144 5.99 4.75 0.39 0.385 14.04 5.46 0.29 0.091 1.02 0.82 8.1 1.61 0.68 3.43 0.435 0.37 1.18 15.88 0.25 1.54 2.73 1.92 38 4.26 1.32 3.85

0.61 38.3 1.09 25.95 1.58 0.83 0.83 0.15 5.99 4.75 0.39 0.4 14.04 5.48 0.295 0.091 1.05 0.88 8.15 1.62 0.68 3.64 0.45 0.395 1.18 16.36 0.26 1.55 2.73 1.92 39.45 4.28 1.35 3.9

0.56 36.95 1.05 25.85 1.55 0.81 0.83 0.144 5.99 4.68 0.38 0.385 13.88 5.4 0.285 0.089 1 0.82 8.1 1.52 0.68 3.37 0.425 0.37 1.15 15.8 0.25 1.42 2.73 1.85 37.3 4.17 1.27 3.75

0.61 38.3 1.05 25.95 1.56 0.83 0.83 0.146 5.99 4.7 0.385 0.4 13.96 5.42 0.295 0.089 1.04 0.86 8.13 1.59 0.68 3.63 0.44 0.395 1.17 16 0.26 1.55 2.73 1.9 38.3 4.17 1.32 3.83

6245000 28046700 108000 647200 515000 1030000 1000 13700000 79900 147000 20930000 420000 854200 351300 2610000 230000 32301000 4275000 99200 12091000 13000 91882000 86020000 300000 550000 13798500 860000 2634000 4000 9000 24016300 66000 3862000 4964000

-514500 16460 162000820 22533625 -19021110 2682530 -2010 -1268148 6556836 -778452 151654470 -68700 -20034531 -1455620 -44190100 21778310 463010 161650 -26794430 -13543687 -548915 -127280

3678800 1061919405 114560 16774960 803820 845780 830 2023990 478601 690590 8035350 166550 11937878 1900712 757100 20610 33165060 3633310 805689 18975540 8840 325663900 37589450 111550 637130 220724616 219250 3939440 10920 16850 924847620 276650 5057230 19033960

15579.9999 621444780 -3524845 -6240 35290 -51450 -0 14080 18750 -2598096 -876250 -291850 6812590 291820 4760 137674190 1365000 -28750 8836972 42000 336642790 -1120 -821110

SERVICES ABS CBN 11.02 11.04 10.98 11.2 10.94 11.02 988600 10939854 GMA NETWORK 5.11 5.12 5.07 5.11 5.05 5.11 396700 2016452 0.415 0.42 0.41 0.415 0.41 0.415 450000 185700 MANILA BULLETIN MLA BRDCASTING 10.8 11.2 11.2 11.2 11.2 11.2 3000 33600 2040 2042 2044 2076 2024 2040 120015 244707890 GLOBE TELECOM PLDT 1401 1402 1425 1425 1397 1402 129680 182370000 0.051 0.052 0.052 0.052 0.051 0.052 21490000 1097390 APOLLO GLOBAL CONVERGE 15.1 15.12 14.86 15.12 14.86 15.1 13590200 204380464 4.17 4.37 4.19 4.4 4.15 4.17 1360000 5657540 DFNN INC DITO CME HLDG 6.3 6.31 7 7.05 6.26 6.3 137627600 899601625 1.38 1.42 1.38 1.38 1.38 1.38 8000 11040 IMPERIAL ISLAND INFO 0.104 0.107 0.105 0.108 0.103 0.105 4660000 490920 1.61 1.67 1.63 1.67 1.61 1.67 63000 103020 JACKSTONES NOW CORP 4.39 4.4 4.45 4.55 4.32 4.39 11931000 53128130 0.255 0.26 0.26 0.265 0.25 0.255 8210000 2091250 TRANSPACIFIC BR PHILWEB 2.93 2.94 3.03 3.03 2.89 2.94 1579000 4644530 9.25 9.28 9 9.4 8.9 9.25 402000 3663081 2GO GROUP ASIAN TERMINALS 15.42 15.98 15.38 15.42 15.38 15.42 1500 23126 6.07 6.08 6.57 7.02 6 6.08 66050900 431231380 CHELSEA CEBU AIR 44 44.05 45 45.5 43.45 44 1946100 86009420 129 129.5 128 129 126.2 129 1445160 185529582 INTL CONTAINER LBC EXPRESS 15.76 16.28 15.3 16.34 15.3 16.28 297400 4749904 1 1.04 1.03 1.04 0.99 1 75000 76700 LORENZO SHIPPNG MACROASIA 6.96 6.97 6.64 7 6.3 6.97 13956700 93802560 1.93 1.94 1.98 1.98 1.91 1.94 847000 1646300 METROALLIANCE A METROALLIANCE B 1.9 2 2 2 2 2 20000 40000 7.15 7.16 7.3 7.48 7.06 7.15 290700 2080351 PAL HLDG HARBOR STAR 1.41 1.42 1.4 1.42 1.36 1.42 3535000 4921050 0.027 0.028 0.029 0.029 0.027 0.028 40100000 1118800 BOULEVARD HLDG DISCOVERY WORLD 1.62 1.7 1.62 1.62 1.61 1.61 17000 27440 0.63 0.64 0.64 0.65 0.61 0.63 9200000 5735200 WATERFRONT CENTRO ESCOLAR 6.59 7 7 7 7 7 100 700 STI HLDG 0.35 0.355 0.365 0.365 0.355 0.355 3610000 1295550 4.03 4.17 4.19 4.2 4 4.17 903000 3679960 BERJAYA BLOOMBERRY 8.59 8.6 8.39 8.64 8.36 8.6 4920500 41881716 1.87 1.93 1.92 1.93 1.88 1.93 69000 130900 PACIFIC ONLINE LEISURE AND RES 1.62 1.64 1.61 1.64 1.58 1.64 588000 954700 2.4 2.63 2.5 2.64 2.4 2.5 53000 132890 MANILA JOCKEY PH RESORTS GRP 2.57 2.58 2.29 2.61 2.27 2.58 96489000 236,334,280( 0.38 0.385 0.38 0.385 0.37 0.385 20550000 7758050 PREMIUM LEISURE PHIL RACING 6.75 6.8 6.64 6.8 6.64 6.8 12700 85572 7.73 7.75 7.82 7.82 7.6 7.75 1678400 12985100 ALLHOME METRO RETAIL 1.53 1.54 1.52 1.54 1.51 1.53 3209000 4895750 41.5 41.8 41.05 41.9 41.05 41.5 4435700 184574470 PUREGOLD ROBINSONS RTL 64.85 65.15 64.95 65.7 64.85 64.85 1313030 85360849.5 110.8 111 111 113.5 111 111 7840 870425 PHIL SEVEN CORP SSI GROUP 1.59 1.6 1.6 1.61 1.55 1.59 8283000 13109030 15.46 15.8 15.8 15.88 15.4 15.46 2433800 37817400 WILCON DEPOT APC GROUP 0.37 0.375 0.365 0.38 0.36 0.375 4070000 1502600 7.3 7.32 7.14 7.35 7.14 7.3 206000 1485344 EASYCALL GOLDEN BRIA 370 395 380 395 360 395 2800 1077030 4.36 4.4 4.49 4.49 4.32 4.4 73000 318430 SBS PHIL CORP

-8489180 -13383425 41615406 8161012 4120 -4860 2496900 29340 -5100 12336 -933139 -22792955 55578254 7212133 29877 196070 41000 1045479 -269100 3,364,249.9997) -1966350 20100 7151250 -13179145 -1597252.5 -63270 1699460 4309562 10950 71400 -534320 -

MINING & OIL ATOK 9.65 9.92 9.68 9.96 9.6 9.94 100100 975650 2.02 2.03 1.93 2.04 1.92 2.02 10806000 21546280 1114900 APEX MINING ABRA MINING 0.0011 0.0012 0.0012 0.0012 0.0011 0.0012 526000000 600800 67200 5.03 5.15 4.8 5.2 4.62 5.15 1452000 7115390 -1689910 ATLAS MINING BENGUET A 3.08 3.15 3.06 3.15 3.03 3.15 202000 618190 3.01 3.1 3.01 3.01 3.01 3.01 15000 45150 -3010 BENGUET B COAL ASIA HLDG 0.26 0.265 0.26 0.265 0.26 0.265 990000 257450 2.47 2.49 2.46 2.49 2.46 2.49 2000 4950 CENTURY PEAK DIZON MINES 8.05 8.23 8.19 8.23 8.02 8.23 17800 143955 1.54 1.55 1.52 1.58 1.47 1.55 11139000 17186150 29590 FERRONICKEL GEOGRACE 0.241 0.246 0.24 0.247 0.24 0.247 830000 199530 120000 0.159 0.16 0.165 0.165 0.158 0.159 31860000 5106220 LEPANTO A LEPANTO B 0.158 0.16 0.16 0.16 0.16 0.16 820000 131200 0.0099 0.01 0.01 0.01 0.01 0.01 17100000 171000 MANILA MINING A MANILA MINING B 0.01 0.011 0.011 0.011 0.011 0.011 4100000 45100 1.04 1.05 1.03 1.04 1.02 1.04 8076000 8305110 159700 MARCVENTURES NIHAO 2.64 2.67 2.62 2.68 2.61 2.64 870000 2296080 13250 4.41 4.43 4.39 4.47 4.39 4.41 14624000 64502620 9139870 NICKEL ASIA OMICO CORP 0.325 0.335 0.335 0.335 0.33 0.33 100000 33200 0.69 0.72 0.72 0.72 0.69 0.7 656000 461260 ORNTL PENINSULA PX MINING 5.63 5.64 5.62 5.69 5.5 5.64 1434700 8037507 2899909 11.58 11.6 11.3 11.6 11.28 11.58 2609200 29988894 3997236 SEMIRARA MINING UNITED PARAGON 0.0053 0.0055 0.0053 0.0053 0.0053 0.0053 30000000 159000 6.36 6.46 6.31 6.48 6.31 6.46 122800 786235 ACE ENEXOR ORNTL PETROL A 0.0099 0.01 0.0099 0.01 0.0098 0.0099 72000000 714100 0.0098 0.01 0.0099 0.01 0.0099 0.01 20000000 199900 -190000 ORNTL PETROL B PHILODRILL 0.0085 0.0087 0.0085 0.0085 0.0085 0.0085 4000000 34000 12.14 12.16 12.2 12.34 11.82 12.16 5046200 60797412 1271408 PXP ENERGY

PREFFERED AC PREF B1 511 519.5 511 511 511 511 10 5110 AC PREF B2R 504 510 510 510 510 510 34500 17595000 100.7 101 101 101 101 101 10200 1030200 CPG PREF A DD PREF 101.5 102.1 102 102 101 101.5 980 99185 110 110.5 110 110 110 110 3000 330000 FGEN PREF G FPH PREF C 500 530 525 525 525 525 10 5250 501.5 517.5 517.5 517.5 517.5 517.5 40 20700 GLO PREF P GTCAP PREF A 990 1007 1001 1001 1001 1001 200 200200 1029 1037 1030 1030 1029 1029 1860 1914445 GTCAP PREF B MWIDE PREF 101.3 101.5 101.3 101.3 101.3 101.3 310 31403 102.5 104.9 104.9 104.9 104.9 104.9 50 5245 PNX PREF 3B PNX PREF 4 999 1002 1002 1002 998 1002 4405 4406280 1012 1030 1020 1020 1011 1011 760 775065 PCOR PREF 2B PCOR PREF 3A 1065 1066 1065 1065 1065 1065 150 159750 1090 1100 1100 1100 1090 1090 450 491000 PCOR PREF 3B SMC PREF 2C 78.15 78.4 78.4 78.4 78.15 78.4 4880 382004.5 75024 78 78.2 78.2 78.2 78.2 78.2 6190 484058 -484058 SMC PREF 2F SMC PREF 2G 76.3 77 76.2 76.6 76.2 76.6 2400 183764 77 78 77 77 77 77 13600 1047200 SMC PREF 2I SMC PREF 2J 76.1 76.3 76.3 76.3 76 76.2 5180 394676.5

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.62 11 10.7 11 10.62 10.62 323200 3441580 -222490 GMA HLDG PDR 4.91 5 4.91 5 4.91 5 261500 1307401 -1048000

WARRANTS LR WARRANT 0.84 0.88 0.81 0.88 0.81 0.84 170000 145110 17600

SMALL & MEDIUM ENTERPRISES ALTUS PROP 13.1 13.34 13 13.46 12.92 13.34 423700 5555302 498256 ITALPINAS 3.06 3.07 3.02 3.12 2.97 3.07 4017000 12315110 -856760 5.58 5.6 5.6 5.6 5.49 5.58 68500 378346 16500 KEPWEALTH MERRYMART 4.32 4.33 4.12 4.4 4.06 4.33 37482000 158845140 397440

EXHANGE TRADE FUNDS

FIRST METRO ETF 105.4 105.5 104.8 106 103.5 105.5 87300 9183950 185243

www.businessmirror.com.ph

Reopening of PHL boosts rental income of Megaworld

M

By VG Cabuag

@villygc

egaworld Corp., the property development arm of businessman Andrew Tan, said its net income in January to September dropped 40 percent to P8.1 billion from last year’s P13.7 billion, but the company saw a recovery in its rental income in the third quarter.

Consolidated revenues fell 30 percent during the period to P33.3 billion from last year’s P48.1 billion, as its core businesses were affected by months of lockdowns imposed by the government.

Revenues for the third quarter alone reached P9.5 billion, still down by 38 percent from last year’s P15.4 billion, but higher compared with the

second quarter when the strictest of lockdowns in the country occurred.

“The government’s recovery efforts especially in reopening the economy coupled with our recovery strategies have greatly helped our core businesses bounce back, and we continue to be optimistic of this uptrend as we strive to provide the right balance between safety, conve-

nience and an enjoyable experience in our townships all over the country,” Kevin Andrew L. Tan, the company’s executive vice president, said.

Megaworld said it had a rental income of P3.4 billion for the third quarter alone, higher than the P3 billion recorded in the previous quarter, but still lower compared with the P4.2 billion it had in the first quarter.

It had a rental income of P12.4 billion in January to September last year. For the 9 months of 2020, its office rental grew 11 percent to P8.57 billion from P7.75 billion last year.

For the third quarter alone, office rentals grew 6 percent to P2.96 billion from P2.8 billion in the previous quarter, and 11 percent from last year’s P2.68 billion.

Megaworld was able to increase its occupancy of leasable spaces in its 9 office buildings inside Iloilo Business Park to 97 percent during the third quarter from 90 percent before the lockdown.

Mall revenues, meanwhile, doubled to P400 million in the third quar-

ter compared with the previous quarter, as most of the company’s mall properties are located inside townships with ready customers from their residents and office workers.

“We are seeing a lot of optimism now as we have begun the recovery of our mall business, and our office leasing business continues its growth,” Tan said.

Real estate sales were flat in the third quarter at P4.75 billion compared with the previous quarter, while hotel revenues dropped 38 percent to P1.17 billion from P1.87 billion last year due to temporary closures of its properties. The company recently recently re-opened its hotels in Tagaytay and Boracay.

“With all the innovations in the hospitality industry being undertaken, the tourism industry will eventually bounce back adopting these new realities in doing business. Our hotels are focused on these initiatives and we look forward to re-opening our other hotels for tourism with these new offerings.”

FNI to hike nickel shipments to China

By Jasper Emmanuel Y. Arcalas @jearcalas

G

lobal Ferronickel Holdings Inc. (FNI), the country’s second-largest nickel producer, said it will increase its nickel shipments to a subsidiary of China’s largest steel manufacturer, China Baowu Steel Group, by 30 percent next year.

In a statement, FNI said its operating arm Surigao del Norte Platinum Group Metals Corp. (PGMC) has signed an annual purchase agreement with Hong Kong-based Baosteel Resources International Co. Ltd. for the supply of 1.3 million wet metric tons (WMT) of nickel ore for the 2021 mining season.

The volume is 30 percent higher than the firms’ 1 million WMT supply contract this year, according to FNI. “We believe this is a result of the quick economic recovery in China.

Against other countries, China was able to respond well to this pan-

demic and manage its economy in an unprecedented manner,” FNI President Dante R. Bravo said on Wednesday.

“The economic growth in China will further accelerate in the coming year as there are recent announcements that the vaccine would soon be available. Given those prospects, we are very bullish in the nickel space.”

If stockpile inventory permits, the FNI said half of the 1.3 million WMT shipment contract would be composed of low-grade nickel ore with 0.90 percent nickel content and 49 percent iron content.

The remaining volume of the supply contract would be mediumto high- grade nickel ore with 1.3 percent to 1.8 percent nickel content and 15 percent to 25 percent iron content, FNI added.

“Delivery is expected to commence in April 2021 when the dry season starts and the selling price of each shipment will be set on a monthly basis according to the pre-

Globe urges Pinoys to switch to 4G LTE

By Lorenz S. Marasigan @lorenzmarasigan

G

lobe Telecom Inc. said on Wednesday that it believes that 4G should be the new standard for mobile Internet in the country, as the Philippines continues its rapid shift towards a more digital economy amid the pandemic.

Gil Genio, the company’s chief technology and information officer, said 4G may help boost the digital economy through the facilitation of business continuity and enhanced productivity, as businesses shift to remote work and schools migrate to distance learning modalities.

“Internet services have become a critical need for many Filipinos.

With the evolution of mobile technologies, it is high time for our country to have 4G/LTE everywhere as the basic mobile internet technology used by everyone,” he said.

Genio explained that making 4G as the Philippine standard for mobile internet has become a necessity, given the exponential growth of usage in 2020, when Covid-19 hit

the country.

“And for the most demanding mobile uses, 5G is here and now, too. Both 4G and 5G were designed for the internet, with 5G designed specifically for new uses such as video streaming, mobile gaming, and even IoT. That is why we call on all customers who still use 3G for mobile data to make the 4G/5G change—SIMs and handsets—and see the difference,” he said.

Globe has been actively developing its networks to heed to the call of President Duterte to improve internet services in the country before the end of December. Duterte even threatened of a government take over should the telcos fail to provide proof of improvements on his deadline.

The company has laid out a three-pronged strategy to improve data experience which includes aggressive cell site builds; upgrading its cell sites to 4G LTE using many different frequencies; and fasttracking the fiberization of Filipino homes nationwide.

Genio noted that net work builds, upgrades and optimization efforts are currently underway and will continue until the end of 2021.

vailing market price at the time of price setting,” the firm said.

Baosteel Resources International Co., Ltd. is a wholly owned subsidiary of the top Chinese steel manu-

mutual funds

facturer China Baowu Steel Group, and is engaged in the business of mineral resource investment, trading, and logistics services, according to FNI. November 11, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 226.46 -12.48% -8.15% -1.95% -10.08% ATRAM Alpha Opportunity Fund, Inc. -a 1.1657 -23.37% -10.73% -1.16% -15.65% ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1066 -20.99% -12.07% -3.93% -15.54% Climbs Share Capital Equity Investment Fund Corp. -a 0.7759 -17.59% -8.56% n.a.

-13.6% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7317 -16.5% n.a. n.a. -13.85% First Metro Save and Learn Equity Fund,Inc. -a 4.8995 -10.76% -6.31% -2.06% -8.05% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7658 -13.26% -7.54% n.a.

-10.29% MBG Equity Investment Fund, Inc. -a 90.5 -20.37% n.a. n.a. -12.33% PAMI Equity Index Fund, Inc. -a 46.2339 -12.7% -6.32% -0.42% -9.84% Philam Strategic Growth Fund, Inc. -a 487.15 -11.26% -6.08% -1.03% -8.56% Philequity Alpha One Fund, Inc. -a,d,5 1.0471 n.a. n.a. n.a.

1.65% Philequity Dividend Yield Fund, Inc. -a 1.1443 -13.92% -6.68% -0.75% -11.08% Philequity Fund, Inc. -a 34.0131 -13.05% -6.04% -0.09% -10.25% Philequity MSCI Philippine Index Fund, Inc. -a 0.9083 -13.51% n.a. n.a. -10.78% Philequity PSE Index Fund Inc. -a 4.7249 -12.3% -5.8% 0.33% -9.55% Philippine Stock Index Fund Corp. -a 790.4 -12.13% -5.69% 0.24% -9.36% Soldivo Strategic Growth Fund, Inc. -a 0.7089 -21.91% -9.87% -4.04% -16.74% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.579 -17.67% -7.8% -1.54% -14.97% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9053 -12.35% -5.99% 0.13% -9.54% United Fund, Inc. -a 3.2564 -13.37% -5.49% 0.32% -10.86% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 106.2434 -11.9% -5.37% 1.04% -9.16% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.1397 12.89% 1% 4.61% 10.82% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5946 20.44% 8.79% n.a.

15.66% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.6338 2.23% -4.17% -1.38% 4.54% ATRAM Philippine Balanced Fund, Inc. -a 2.2343 -2.09% -3.05% 0.44% 2.44% First Metro Save and Learn Balanced Fund Inc. -a 2.6092 -2.45% -1.92% -0.95% -0.85% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1978 -16.89% n.a. n.a.

-13.44% NCM Mutual Fund of the Phils., Inc. -a 1.9534 -1.38% -0.47% 1.65% -0.42% PAMI Horizon Fund, Inc. -a 3.7674 -1.93% -1.32% 0.9% -0.57% Philam Fund, Inc. -a 16.8584 -1.94% -1.41% 0.83% -0.6% Solidaritas Fund, Inc. -a 2.0827 -2.45% 0.67% -1.86% -3.95% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5386 -10.07% -3.9% -0.46% -8.41% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 1.0133 -2% n.a. n.a.

-0.24% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9408 -8.05% n.a. n.a.

-5.58% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9243 -9.42% n.a. n.a.

-6.94% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8757 -12.3% -4.73% -1.27% -10.17% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03918 3.51% 2.75% 2.02% 2.57% 4.14% PAMI Asia Balanced Fund, Inc. -b $1.1044 8.47% 1.69% 9.13% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.322 13.62% 6.38% 6.54% 10.52% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1907 7.33% 3.42% n.a.

5.49% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 369.29 3.78% 3.2% 2.71% 3.17% ATRAM Corporate Bond Fund, Inc. -a

1.8953 -1.48% -0.04% -0.12% -0.35% Cocolife Fixed Income Fund, Inc. -a 3.2071 3.55% 4.66% 4.89% 2.86% Ekklesia Mutual Fund Inc. -a 2.2894 3.36% 2.78% 2.28% 2.97% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4457 4.28% 3.36% 2.01% 3.67% Philam Bond Fund, Inc. -a 4.6213 6.53% 2.86% 5.68% 4.33% Philam Managed Income Fund, Inc. -a,6 1.3134 5.37% 4.37% 2.5% 4.51% Philequity Peso Bond Fund, Inc. -a 3.9607 5.45% 4.25% 2.72% 4.55% Soldivo Bond Fund, Inc. -a 1.0353 8.44% 3.81% 2.32% 7.36% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1809 4.29% 4.61% 3.22% 3.42% Sun Life Prosperity GS Fund, Inc. -a 1.7413 3.38% 3.93% 2.63% 2.36% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $480.79 3.17% 2.61% 2.88% 2.65% ALFM Euro Bond Fund, Inc. -a Є218.11 -0.66% 0.69% 1.17% -0.76% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2568 4.51% 3.47% 2.79% 4.11% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0265 3.11% 1.96% 1.75% 2.71% PAMI Global Bond Fund, Inc -b $1.0908 -0.02% 0.27% 0.93% -0.26% Philam Dollar Bond Fund, Inc. -a $2.5146 5.57% 3.88% 3.54% 4.62% Philequity Dollar Income Fund Inc. -a $0.0619368 2.89% 2.51% 2.23% 2.71% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2148 2.34% 2.18% 2.61% 1.25% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.44 3.42% 3.33% 2.54% 2.87% First Metro Save and Learn Money Market Fund, Inc. -a 1.0464 1.86% n.a. n.a.

1.96% Sun Life Prosperity Money Market Fund, Inc. -a 1.2934 2.72% 3.01% 2.62% 2.25% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0511 1.57% 1.69% n.a.

1.23% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.0773 n.a. n.a. n.a. n.a.

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.96 n.a. n.a. n.a.

-3.03%

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

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

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

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

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

latest NAVPS/NAVPU."

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

BusinessMirror

Thursday, November 12, 2020

B3

U.S. hits record coronavirus hospitalizations amid surge N

EW YORK—The US hit a record number of coronavirus hospitalizations on Tuesday and surpassed 1 million new confirmed cases in just the first 10 days of November amid a nationwide surge of infections that shows no signs of slowing.

The new wave appears bigger and more widespread than the surges that happened in the spring and summer—and threatens to be worse. But experts say there are also reasons to think the nation is better able to deal with the virus this time around.

“We’re definitely in a better place” when it comes to improved medical tools and knowledge, said William

Hanage, a Harvard University infectious-disease researcher.

Newly confirmed infections in the US were running at all-time highs of well over 100,000 per day, pushing the total to more than 10 million and eclipsing 1 million since Halloween. There are now 61,964 people hospitalized, according to the Covid Tracking Project.

Several states posted records on Tuesday, including over 12,600 new cases in Illinois, 10,800 in Texas and 7,000 in Wisconsin.

Deaths—a lagging indicator, since it takes time for people to get sick and die—are climbing again, reaching an average of more than 930 a day.

Hospitals are getting slammed. And unlike the earlier outbreaks, this one is not confined to a region or two.

“The virus is spreading in a largely uncontrolled fashion across the vast majority of the country,” said Dr. William Schaffner, an infectious-disease expert at Vanderbilt University.

Governors made increasingly desperate pleas for people to take the fight against the virus more seriously.

In an unusual prime-time speech hours after Wisconsin set new records for infections and deaths, Democratic Gov. Tony Evers announced that he was advising people to stay in their houses and businesses to

allow people to work remotely, require masks and limit the number of people in stores and offices.

Minnesota Gov. Tim Walz, a Democrat, ordered bars and restaurants to close at 10 p.m., and Iowa Gov. Kim Reynolds, a Republican, said she will require masks at indoor gatherings of 25 or more people, inching toward more stringent measures after months of holding out.

While deaths are still well below the US peak of about 2,200 per day back in April, some researchers estimate the nation’s overall toll will hit about 400,000

by Feb. 1, up from about 240,000 now.

But there is also some good news.

Doctors now better know how to treat severe cases, meaning higher percentages of the Covid-19 patients who go into intensive care units are coming out alive. Patients have the benefit of new treatments, namely remdesivir, the steroid dexamethasone and an antibody drug that won emergency-use approval from the Food and Drug Administration on Monday.

Also, testing is more widely available.

In addition, a vaccine appears to be on the horizon, perhaps around the end of the year, with Pfizer this week repor ting early results showing that its experimental shots are a surprising 90 percent

effec tive at preventing the disease.

And there’s a change pending in the White House, with President-elect Joe Biden vowing to rely on a highly respected set of medical advisers and carry out a detailed coronavirus plan that experts say includes the kind of measures that will be necessary to bring the surge under control.

Biden pledged during the campaign to be guided by science, make testing free and widely available, hire thousands of health workers to undertake contact tracing, and instruct the Centers for Disease Control and Prevention to provide clear, expert advice. AP

Health&Fitness BusinessMirror

B4 Thursday, November 12, 2020

The Medical City Clark is ISO 9001:2015 certified

DOH, PPS push for tobacco cessation, cite Covid-19 risks

T

By Anne Ruth Dela Cruz

W

hile T he M e dical Cit y (TMC) Clark had to deal with an influx of Covid-19 patients when the government imposed community quarantine back in March, the hospital staff had made an earlier commitment. That commitment was to achieve ISO 9001:2015 certification.

ISO 9001:2015 is the world’s most widely recognized quality management standard. This standard and certification was selected specifically to validate TMC Clark’s commitment to deliver quality health care to ensure customer satisfaction.

The International Organization for Standardization (ISO) 9001:2015 is the world’s most popular and commonly used standard for Quality Management Systems. It is an international consensus on good management practice and it focuses on meeting customer requirements and other interested parties. It has distilled into standard requirements that covers any organization, whatever the size, industry or culture.

“To have achieved ISO 9001:2015 certification during this Covid-19 pandemic is a testament of our staff’s dedication and strict adherence to quality management systems and to go beyond our patients’ expectations,” said Dr. Almario Jabson, TMC Clark President and CEO. “This pandemic has taught us to always look out for best practices so that we will be able to provide quality care not only to Covid-19 patients but to nonCovid 19 patients as well.”

Virtual audit Stage 1 of the ISO audit was conducted virtually on October 22, 2020 without any major or minor non-conformance.

An onsite audit was conducted on October 30, 2020 where the auditors verified documents that were sent to them earlier in the week. The audit focused more on patient traceability and experience.

Preparations for ISO 2001:1995 certification started as early as November 2019 with ISO trainings, workshops, orientations and documentations to start familiarizing TMC Clark staff about ISO. This lasted until January 2020 and by that time the hospital was able to identify internal auditors who ensured that the hospital was on track.

At the height of the Covid-19 pandemic, which were the months of February to April, hospital staff spent it reviewing policies and procedures and the revision of manuals. In September, the hospital conducted its First Internal Quality Audit where auditors highlighted the improvements and helped each department achieve an improved quality system.

There was also a management review of the audit, an assurance that the TMC Clark management supported the hospital’s journey towards quality service.

“It has been a very challenging time for all of us in the health-care industry and we had to divide our time between preparing for ISO certification and taking care of our patients,” Dr. Jabson said.

“Now that we have been able to achieve this, we are now more committed to improve our Quality Management Systems and prepare for Joint Commission International accreditation.”

Air cooling solutions to fight Covid-19 launched

By Roderick L. Abad Contributor

P

HILIPPINE GeoGreen Inc. (PGI) has introduced its new business unit that provides smart solutions to businesses and households to enable them to cope with the Covid-19 pandemic and other infectious illnesses.

Called “GeoClean,” its mission is to provide cutting-edge technologies for the new normal, according to PGI Chief Executive Officer (CEO) Liza Morales. “[It] aims to focus on disinfection technology to keep the environment healthy and safe for everyone,” she told reporters during their recent webinar.

The two American brands under its wing are Freshaire UVC and Big Ass Fans Clean Air technologies that are proven to reduce by 99.9 percent the SARS Cov2, the coronavirus strain that causes Covid-19.

Morales said that the former’s line of products has disinfection capability that work well with existing heating, ventilation and air-conditioning systems while the latter has built-in mechanisms that provide ventilation, ultraviolet light and needlepoint ionization disinfection systems.

Such features, she noted, will allow people to feel safe and go out again after getting stuck at home for months due to governmentimposed lockdowns.

The ensuing health crisis has already claimed the lives of over 6,000 Filipinos nationwide, infected nearly 400,000 individuals, disrupted many businesses and caused millions of job losses.

It also created an impact on the Philip-

pine economy in the second quarter as the government implemented strict community quarantine to control the spread of this virulent disease.

Cost-effective solutions

As the economy gradually reopens, the top executive said that GeoClean’s intelligent and cost-effective solutions offer a distinct advantage for businesses.

The company targets hotels, homes, sports complexes, shopping malls, restaurants, offices, and industrial facilities, among others as potential markets for these products.

Given their aggregate total space of 54 million square meters, the CEO is bullish about their business performance as they would benefit from the disinfection technologies that GeoClean offers.

In fact, she said that the market’s response to Freshaire UVC, which has been available in the local market for a few months now, is “really great across all the verticals”—from commercial to office spaces, business process outsourcing, hotels and residential customers.

As to Big Ass Fans Clean Air, she bared that they have been already getting a lot of inquiries even if it is set to be launched for next month.

“We’re hoping to get our first shipment in soon. The problem with all these products that we offer is that there is high demand given the situation right now. That’s always like a challenge. So we’re trying to like get our suppliers to ship out the products and send them right away because everyone else in the world wants it,” Morales stressed.

Editor: Anne Ruth Dela Cruz

By Claudeth Mocon-Ciriaco

he Department of Health (DOH) and the Philippine Pediatric Society (PPS) have pushed for tobacco cessation as they reminded the public about the risks of both cigarette and vape smoking, and the possible spread of the Covid-19 virus.

Health Undersecretary Maria Rosario Vergeire, however, admitted that pushing for total tobacco cessation is never easy.

“It has been challenging to push for total tobacco cessation among the public, but we are not giving up. This is why it is part of the department’s health priorities that are being championed by the Health Promotion Bureau,” said Vergeire.

Vergeire said that ceasing tobacco use has always been part of the campaigns of the DOH and has been one of its health priorities due to the long-term adverse effects of smoking, not only to smokers, but on the people around them and the environment.

Critical hospitalization For her part, Dr. Rizalina Racquel H. Gonzalez, chair of the PPS Tobacco Control Advocacy Group, revealed a startling connection between cigarette or vape smoking and Covid-19, which can cause critical hospitalization or even death.

“Smoking is associated with increased severity of disease and death in hospitalized Covid-19 patients,” Dr. Gonzalez emphasized.

She added, “Given the well-established harms associated with tobacco use and second-hand smoke exposure, the WHO [World Health Organization] recommends that tobacco users stop using tobacco.”

Dr. Gonzalez also pointed out that another way that tobacco use increases the risk and spread of Covid-19 is through the hand-to-mouth gesture of puffing a cigarette or vape, which is counterintuitive to public medical advice to people not to touch their faces.

Counterintuitive As tobacco use is often a social activity, according to Dr. Gonzalez, it also opens an opportunity for crowding which is also counterintuitive to another antiCovid-19 preventive measure—physical distancing. Using waterpipe or shisha also entails sharing the same pipe, which can spread viruses from person to person.

Moreover, as the PPS chair elaborated, the effects of coronavirus can be worse for people who use tobacco as it leads to disease and disability, harming nearly every body organ including the lungs.

As the lungs are damaged by tobacco use, the effects of coronavirus can be worse, said Dr. Gonzalez.

She also added that tobacco use affects the immune system, hence making smokers less able to fight off infections.

Stronger policy support Considering these risks, Dr. Gonzalez

also asked for stronger support for policies against tobacco use.

“So, we urge this call, we have been using this call, pre-Covid to let’s help push our tobacco-free laws to have a smoke-free Philippines,” she said.

Philippine Laws against Smoking and Vaping include the following which require immediate compliance: Executive Order 26, series of 2017 which bans smoking in enclosed public spaces and the sale of cigarettes within 100 meters from a school; EO 106, series of 2020 which updated EO 26 to include ban on the manufacture and sale of e-cigarettes to minors; Republic Act 11346 of 2019, raising the excise tax on cigarettes by P45 per pack with an incremental increase of P5 per year for four years, reaching a total of P60 by 2023 where 50 percent of tax is for health care; and lastly, RA 11467 of 2020 which raises the excise tax on e-liquids and age of access to 21 years old.

Vergeire supported Dr. Gonzalez’s pronouncements, saying that tobacco cessation education is important especially during a pandemic as it helps boost the knowledge of the public, especially smokers, on how to take care of their own health and that of the person next to them.

Filipino company launches line of health products

By Rizal Raoul Reyes

A

wholly owned Filipino company has introduced a new line of health products to ensure that Filipinos will have access to high quality and affordable products and information that promote health and wellness.

Jesus T. Cabais Jr., President and General Manager of Bandwell Pharmaceuticals, Inc., recently told the BusinessMirror in an e-mail interview that he established the company this year because he saw the need to introduce new health products in the local market especially in the time of Covid-19 pandemic.

“It all started with a group of tenured pharmaceutical people who saw gaps in the market that are not being served,” Cabais pointed out.

Big gap

He and his colleagues saw a big gap in the issue of inflammation. He explained that people suffering from inflammation would naturally resort to non-steroidal anti-inflammatory drugs (NSAIDs) that are commonly used by people as a pain reliever, to reduce inflammation, and to bring down a high temperature.

However, Cabais stressed that there is a downside in using NSAIDs and steroids be-

cause they have a lot of side effects. “This is not seen by multinational and other local companies,” Cabais stressed.

Bandwell is also introducing a new and improved proteolytic enzyme supplement, Danzedin Serrapeptase, which is a natural alternative in alleviating inflammatory discomfort. It has Grade A evidence in the treatment of inflammation associated with various diseases. Danzedin Serrapeptase aims to give health-care providers an additional treatment option to meet their patients’ needs.

for their age.

Meanwhile, the country is experiencing a problem with obesity. The prevalence of obesity in children has significantly risen from 5.8% in 2003 to 11.7% in 2018.

To address the public health crisis, Bandwell introduced Pedia Plus in the market. It is a special milk formula for young anorexic and sick children, which contains multivitamins to help in children’s brain and vision development.

Common ailments

To prevent obesity in kids, Bandwell launched NutriFit Gold, the first and only advanced nutritional formula in the growing up segment. It contains Isomaltulose to prevent fat accumulation for a fit body.

“I am pleased to announce that our products are now available in Mercury drug stores nationwide—offering Nutrifit Gold, Pedia Plus, and Danzedin Serrapeptase. We also partnered with Shopee and Lazada, two of the country’s biggest e-commerce markets to reach a wider network and accommodate orders nationwide. We are doing everything we can to ensure that patients, the community, and our workforce remain safe,” Cabais added.

“We’re thrilled to formally introduce our company to the public. We feel it’s of critical importance to communicate our mission

Bandwelll will soon introduce products in the local market that are going to address health-care gaps in common ailments, inflammation, immunity and nutrition.

With consumer demand for health and wellness products experiencing above average growth, Cabais said Bandwell is implementing steps to raise the consciousness and awareness of Filipinos’ lifestyle while at the same time recognizing the value of investing in prevention to lower health-care costs.

To promote wellness and to tackle malnutrition in children, Bandwell recently launched its powdered milk solutions. Studies show that 95 children in the Philippines die from malnutrition every day and one out of three children are stunted or short

Obesity

and goals not only to our direct customers, but also to our partners and our own people,” explained Cabais.

For Cabais, being innovative is not always finding the right molecule, but also filling the gaps not just in terms of products but also in product segments and on company operations.

Market access

Basically, Cabais said Bandwell wants all market segments to have access to their products. “What we are offering are above standards because we believe that the Filipinos deserve more than the standard,” he said.

Typical of a startup, Bandwell is facing the challenge of establishing credibility and the capacity to move forward into selling and promoting the products. He added running the business during a pandemic is doubly challenging.

Nevertheless, Bandwell’s coping mechanism at this time of pandemic is mainly on accepting the “New normal” and believing what the future can offer, believing that we can survive this. The company’s inspiration is believing that it is an instrument to help Filipinos overcome their current health challenges. “Our challenges as a company are far less than what our patients are going through,” Cabais said.

FERN C, the sodium ascorbate vitamin without the acidic feel

T

hese days, people are constantly reminded to do the following to protect themselves from the Covid-19 virus: wash hands regularly, wear a face mask and face shield, especially when entering establishments like stores, restaurants and malls, and to observe social distancing. Additionally, the advice includes eating healthy and getting enough sleep to become strong enough to fight off the virus.

But one thing that should not be forgotten is to take our daily dose of Vitamin C. While there are many Vitamin C brands in the market, they may cause more harm than good because of their acidic nature. Excessive absorption of ascorbic acid may lead to gastric irritation, bloating and intestinal bleeding.

FERN C addresses this problem as it is probably the first non-acidic Vitamin C product in the market.

FERN C contains sodium ascorbate, a form of Vitamin C that is more readily absorbed (up to 95% according to the US National Institutes of Health) by the body. The better absorption of a nutrient is, the more effective it becomes.

And since it comes in capsule form, FERN C

eliminates the need to use starch binders that reduce absorption and efficacy of vitamins.

FERN C is also the best Vitamin C for people who are always on the go. If there’s no time to take breakfast at home, don’t forget to take FERN C before leaving. That’s because FERN C is the vitamin C that contains no acidic feel and everyone can be sure that their immune system will get a strong boost every day.

According to Healthline.com, there are seven scientifically proven benefits of taking a vitamin C supplement. Taking Vitamin C: n Boosts immunity. One of the main reasons people take Vitamin C supplements is to boost their immunity as Vitamin C is involved in many parts of the immune system. n May reduce your risk of chronic disease. Vitamin C is a powerful antioxi-

dant that can strengthen the body’s natural defenses.

n May help manage high blood pressure. High blood pressure increases risks

of having heart disease, the leading cause of

a type of arthritis that is painful and involves inflammation of the joints, especially those of the big toes. Several studies have shown that Vitamin C may help reduce uric acid in the blood and as a result protect against gout attacks.

death globally. Studies have shown that Vitamin C may help lower blood pressure in both those with and without high blood pressure. n May lower risk of heart disease.

Many factors increase the risk of heart disease, including high blood pressure, high triglyceride or LDL (bad) cholesterol levels, and low levels of HDL (good) cholesterol. Vitamin C may help reduce these risks and this, in turn, may lessen risks of heart disease. n May reduce blood uric acid levels and help prevent gout attacks. Gout is

n Helps prevent iron deficiency.

Iron is an important nutrient with many functions in the body. Vitamin C assists in converting iron that is poorly absorbed, such as plant-based sources of iron, into a form that is easier to absorb. n Protects memory and thinking while ageing. Dementia is a broad term used to describe symptoms of poor thinking and memory. Vitamin C is a strong antioxidant and a number of studies indicate that a high Vitamin C intake from food or supplements has been shown to have a protective effect on thinking and memory while ageing.

FERN C, distributed by Stada Philippines, is available in Shopee and Lazada and in all leading drugstores nationwide.

Parentlife BusinessMirror

www.businessmirror.com.ph

NATALIE PORTMAN RELEASES CHILDREN’S BOOK OF INCLUSIVE FABLES

Editor: Gerard S. Ramos

• Thursday, November 12, 2020

B5

Are kids grumpier a�ter gaming?

BY ALICIA RANCILIO The Associated Press NEW YORK—Natalie Portman is putting her body through the paces to get into fighting shape for her next Marvel movie. The Oscar winner, preparing to film Thor: Love and Thunder in Sydney, Australia, is training hard after a monthslong pandemic pause in her diet and exercise regimen.

“It was a free-for-all. I did not exercise at all, I ate all the foods I needed and wanted,” she said, laughing and acknowledging that she’s “really tired” of waking up early for the renewed exercise program.

Portman said she recognizes she’s fortunate that her job keeps her accountable, “so I have no choice but to tough it out.”

Like so many, she’s also a busy mom navigating her nine-year-old son and three-year-old daughter’s school and socialization during the pandemic. She pauses an interview to silence her phone, which keeps dinging because her son is on a text chain with his classmates.

Motherhood is what makes her latest project, Natalie Portman’s Fables, so close to her heart.

Portman tweaked three classic children’s stories— “The Tortoise and the Hare,” “The Three Little Pigs” and “Country Mouse and City Mouse”—to make them more gender-inclusive.

In her version, the persistent and confident tortoise who quietly outpaces the hare is a female.

“That’s almost a message to myself,” Portman said.

“Pay attention and slow down.”

“Children’s books have this very special place in our lives because we read them over and over and over again like no other books,” the 39-year-old actress said. “They have a way of instilling information and values into both the children and parents. And when I was reading the books, I was struck by how the classic stories had overwhelmingly male characters and thinking, ‘What am I telling my kids—both my son and my daughter—about whose stories are important to tell and also whose lives they should care about?”

She said her goal was to preserve and update the stories to reflect contemporary culture, “which is many genders, and not just a predominantly male world.” Portman says by emphasizing values such as empathy, kindness and caring for the planet, the book is “like a love note” to her kids “about what I hope they do in the world.”

She said her kids served as “mini-editors,” with son Aleph picking up on word play and daughter Amalia appreciating the humor in illustrations by Janna Mattia.

She was a book lover as a child and saved her favorite children’s books for her kids, and is happy that her son has grown to love Beverly Cleary and Judy Blume stories. For her next writing project, Portman is hoping to tackle something in her son’s comfort zone, perhaps a graphic novel.

NUTCRACKER tabletops will add a whimsical and festive touch to your home this Christmas

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HEN a child plays video games, parents invariably worry that such games could harmful. In fact, a research conducted last May by global cybersecurity company Kaspersky showed that four in 10 parents from Southeast Asia (SEA) believe that their children are “more grumpy than usual” after a gaming session.

In the survey, titled “More Connected Than Ever Before: How We Build Our Digital Comfort Zones,” about 760 respondents from the region reported that kids are now spending more time online than before the pandemic. A total of 63 percent of parents surveyed by Kaspersky agreed with this observation.

To help parents navigate their kids’ gaming habits, Kaspersky shares each of the potential problems associated with video games and suggests solutions for the reference of moms and dads.

FEAR 1: HARM TO EYESIGHT AND POSTURE MANY parents worry that if the child spends a lot of time playing, his eyesight may become compromised.

Others worry that prolonged sitting in front of a computer or leaning over a smartphone can have a negative effect on a child’s posture.

Yes, this is a concern especially when the child is predisposed to gaming. Vision problems could arise and are a reason to organize a time for gaming more carefully. As for posture, it can also be threatened especially if the child does not play sports.

Installing a good monitor can help alleviate the problem with eyesight. Finding a comfortable position while playing and working on a computer is important. A good chair, a table of the right height, a comfortable posture and a good distance from the monitor will help your child’s vision and posture. A child’s play time should be regulated. It is important that restrictions are made with an agreement between you and your child.

It would be good to check with an ophthalmologist with regards to how much screen time is allowed.

If the child has not seen by an eye doctor, set a reasonable limit based on the child’s age. Software level restrictions can be set with the help of online safety programs, such as Kaspersky Safe Kids or of internal device settings, such as set-top boxes and iOS-based mobile devices. The latest version of Kaspersky Total Security, which includes a Safe Kids feature, is available in the Philippines for PC and Mac units. A single-user license retails for P1,390 in Lazada and leading IT stores nationwide.

COMPUTER FEAR 2: VIRUSES ON YOUR COMPUTER SOME parents fear malware their child might

unwittingly install instead of the game being touted.

Recent research by Kaspersky shows that the activity of hackers using a popular game as a lure has increased significantly since the outbreak of the coronavirus. Criminals using such an approach in their attacks rely on the gullibility and ignorance of users.

First of all, it is necessary to explain to the child what a malware is, where you can download it, and what harm can it do. It is also worth taking the time to talk with your child about the bad side of piracy.

Use an antivirus. This is useful not only if a child accidentally installs malware, but also in many other situations.

FEAR 3: AGGRESSIVE BEHAVIOR CAUSED BY VIOLENT GAMES A CHILD’S aggressive behavior is not driven by the video games they play but by many other things.

Even whe you keep your child free of video games, it is likely that he/she will still compete for kung fu with friends, shoot invisible enemies with toys.

At the same time, if you allow, say, a six-yearold kid to play horror games, then such scary, frightening, violent games can really adversely affect the child’s psyche, cause nightmares and other sleep disturbances, and bring about irrational fears. The

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same can be said about the effect of such games on older children who already have certain fears or tendencies. It should be remembered that there are different games for every age and every child. Use an age rating. Keep in mind that the age rating even suffers small deviations, if you do not enter the 16+ segment: if you are quite sure that a 12+ rated game is good, then why not install it for your 10-year-old son?

To prevent your child from launching games that are not suitable for their age (for example, those that you bought for yourself, or that he/she downloaded from the Internet), use software that limits the ability to launch games or any content based on age rating.

The most important thing is to always remember that whenever you try to restrict your child’s access to games, you first need to talk to your son or daughter and explain why you are doing this.

In conclusion, do not prohibit your children from playing video games, but to keep your child safe, remember that the following six points will help you better control this area of children’s life: ■ Communication ■ Age rating ■ Time limit ■ Protection against malicious software ■ Settings restricting in-app purchases ■ Promote hobbies in the real world

❶ TUCK these adorable polar bears under your Christmas tree ❷ HAVE a sparkling frosty Christmas with SM Home ❸ HANG these frosted pine cones with snowflakes string lights to spark up the holidays.

LED Nativity Scene lanterns for a vintage Christmas

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The colors of Christmas IT’S the season to chase the pandemic blues way. The colors of Christmas will bring joy, love and beauty to your home with SM Home’s collection of dazzling ornaments and décor.

With most of us spending more time at home, the holidays will certainly bring cheer with possibly the widest assortment of décor in town, and more than 24 combinations of ornaments, lights and trees to choose from. These range from modern expressions of traditional holiday trimmings with an artisan touch that celebrate all that is creative and classic, especially at the #ChristmasAtSMHome shop in SM Store Makati. Here, SM Home shares with us three main color themes that will bring the holidays to our homes.

■ CLASSIC RED. Create a cozy and casual holiday living room with classic reds that never go out of style. Add shades of white, and don’t forget a bit of sparkle for added flair.

Nutcracker toy soldiers, potted berry trees, wreaths and Christmas trees, snow globes, and miniature vintage villages will help showcase a traditional holiday scene at home.

■ LUXE GOLD. Metallic hues make an elegant and polished holiday look. This year, add a rosy palette with gold—a touch of antique brass and champagne—to your Christmas design for a touch of warmth to your home, but with a chic luxurious feel.

■ FROSTY WHITE. A white palette makes your fir or

frosted-berry tree merry and magical. Deck your tree with sparkly silver and white ornaments, blended with luxurious ribbons to create a cozy, snowy and wintry wonderland. Also, dazzle it with fairy lights to bring softer and ambient glow to your ornaments.

The Christmas collection is now online at www.christmas. smhome.ph, where homemakers can choose from the array of All-In Tree Packages that come complete with ornaments, lights and trimmings, and Free Styling and Delivery from select SM Home branches. They can also call #143SM (#14376) for The SM Store’s Call to Deliver services to order and have your Christmas tree delivered at their doorstep.

B6 Thursday, November 12, 2020

Payments made simpler with Security Bank’s SimplyPay

‘BOOBwatch’ 2020 campaign stresses the importance of early cancer detection

BREAST Cancer Survivors from Kasuso Foundation and Avon-PGH Breast Care Center Support Group receive boxes with the Avon Empower Bra

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VON’S activities for this year’s Breast Cancer Awareness month were a success with over 14,000 participants.

With three fundraising events mounted online for the benefit of the Philippine Cancer Society, Avon was able to reach more people and generate awareness at a grander scale.

First up was BOOB Talk, a breast care catch-up with Dr. Gia Sison, Dr. Rachel Rosario of the Philippine Cancer Society, Avon Ambassador Daniel Matsunaga, TV host and News Anchor Dianne Medina and host Myrza Sison. The online ‘chikahan’: on October 10, became a fruitful conversation about breast cancer viewed by more than 6,200 people. Franz Tolentino, a breast cancer survivor and

active Avon representative, also shared her personal stories about fighting the Big C. Franz was an incredible source of inspiration for those who are dealing with the disease. She shares, “Pwede din kayong sumali sa mga breast cancer support groups katulad ng Avon-PGH Breast Cancer Group.

Malaking tulong ang magkaroon ng mga kaibigan na alam ang pinag-dadaanan mo.

Mayroon kang makakausap na naranasan o pinagdadaanan din ang pinagdadaanan mo.”

Shaped for More with Morrisette: The BOOBwatch Fundraising Concert was streamed via Facebook, with more than 5,700 of viewers tuning in. Morrisette sang hits by Adele, Jessie J, and some of her own hit songs. The singer shared her

pride in being part of this great cause, “I am excited to be part of this campaign because I believe in their Breast Care Promise. Prevention is always better than cure. Our health is not something we want to compromise.”

The last event was a fun and energetic one, ending the festivities on a high note. The #JoinTheBoobment Manoeuvres Fitness Dance-a-thon, also streamed via Facebook Live, was one and half hours full of high-energy dance routines and happy people viewing and donating. The renowned dance group took viewers down memory lane, as they danced to the hits of the 70s all the way to the hits of today, making it a fun event from titas to millennials. During this session, Jason and James Zamora with James Gaddi taught the viewers a quick Tiktok dance tutorial that shows how easy and fast it is to do a breast check by yourself.

Avon has also released a special collection to help raise funds as well. For every sale of the Empower Bra (Avon’s first-ever mastectomy bra), the Breast Cancer Promise Umbrella and Tote Bag Set, and Evita Watch P50 was donated to the Philippine Cancer Society. You can continue to donate to this cause through BPI Account number: 01410431-53 or GCash Account number: 0917-5372662. Breast cancer is the most commonly occurring cancer in women, and this is why Avon makes it a point to keep their advocacy going.

Visit www.avon.ph

There’s No Place Like Gold: Interior designer Michael Fiebrich inspires a holistic design experience

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HE new normal has ushered in ways designed for us to thrive while in quarantine, such as accomplishing our transactions through cashless payments.

Because of this, we find ourselves using our credit cards more often to conveniently purchase essentials and settle bills without compromising our family’s health.

Unfortunately, most credit cards cannot cover payments for all your needs as some billers require other payment methods, particularly bank-to-bank deposits. This can be a hassle for most of us, right?

Not if you are a Security Bank credit cardholder. You don’t need to worry about paying these bills because we are bringing convenience right at your fingertips!

Introducing SimplyPay, the newest Security Bank credit card feature that allows you to settle payments through

bank deposits. It is a secure and fuss-free way to take care of your rent, tuition fees, insurance payments, and even hospital bills — all within 6 banking days!

To make it even better, SimplyPay offers flexible payment options especially for big purchases up to P500,000. You may opt to settle your balance in full or through installment from 3 to 12 months with addon rates that won’t hurt your pocket!

Ready to enjoy this new and simple way to pay? If you are a principal cardholder of a Security Bank Mastercard credit card with a good credit standing and an active or current status, you can start using SimplyPay right now!

Discover the convenience of paying your bills in the new normal with Security Bank.

Learn more about Security Bank’s SimplyPay visit www.securitybank.com.

Villar enjoins PH in celebrating November as Environmental Awareness Month

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ENATOR Cynthia A. Villar rallies behind the country in celebrating November as “National Environmental Awareness and National Clean Air Month,” saying that protecting the environment will save us from disasters and calamities.

“Calamities are added burden to us. It can make one poorer because all efforts would be futile,” stressed the chairperson of the Senate committee on environment, natural resources and climate change.

“Better results would be achieved through more people and groups’ collective efforts geared towards environmental protection,” emphasized Villar who has been strongly opposing projects that could result to environmental destruction and degradation.

The senator has been particularly objecting to reclamation plans along the coast of Manila Bay, which she maintains would be harmful to the Las PinasParanaque Wetland Park, a declared national protected area under our Philippines laws.

She noted that this could compromise the livelihood of more than 300,000 fisherfolks in nearby communities.

Regarding the country’s problems on plastic wastes, Villar has been advocating to implement the extended producer responsibility (EPR), a measure being practiced in European nations to limit the use of plastic wastes and asking producers of plastic wastes to build recycling facilities for plastics.

To help in reducing the plastic wastes, the Villar Sipag Foundation has built 3 facilities nationwide that convert plastic wastes into school chairs that are being distributed to public schools and farm schools all over the country. In the spirit of EPR, the Coca-Cola

Beverages Philippines is building a plastic bottles recycling facility in General Trias, Cavite that will convert plastic bottle wastes into new bottles again.

As a legislator, she has crafted legislations to find solutions and implement strategies to address the perennial environmental problems.

“I have also talked to consumer product companies who are big users of plastics to join the government’s efforts towards environment protection,” related Villar.

Villar has been pushing for Senate Bill No. 1331 seeking to institutionalizing the practice of Extended Producers Responsibility in waste management, taking into consideration the Senate Bill No. 333 or “Single-Use Plastic Product Regulation Act of 2019” that intends to regulate the manufacturing, importation, and single-use of plastic products.

Apart from this, the senator said that the Manila Bay protection and rehabilitation has been an important part of her legislative priorities in the Senate.

She filed Senate Bill No. 334 that seeks to adopt an integrated coastal management as a national strategy to ensure the sustainable development of the coastal and marine environment and resources.

Furthermore, in 2018, Villar spearheaded the passage of RA No. 11038 or the Expanded National Integrated Protected Areas System (E-NIPAS) Act that declared 94 sites as protected areas, which added to the 13 already existing and bringing the total to 107 national protected areas all over the country.

November is Environmental Awareness Month by virtue of Republic Act 9512 enacted in 2008.

Mrs. Garcia’s Meats ready for Christmas feast

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N overall sensory experience. That, for Michael Fiebrich, is what defines design, not just mere aesthetics.

His passion for innovation and desire to create moving experiences has won him numerous awards, generated a lot of buzz and publicity for his works and turned him to one of the most sought-after interior design and architecture consultants in the world. His company, Michael Fiebrich Design (MFD) always serves flair no matter what the design objective is. His process is fluid and always delivers delight in all aspects.

Known for its timeless, elegant, and functional aesthetics, MFD has been delivering a delightful experience with its design footprint, with each work always better than the last.

One of MFD’s best known projects, the Crown Towers in Perth, Australia, brings an expressive interior architecture through luxurious, sleek, contemporary, and sophisticated spaces. The firm brought to life Australia’s most luxurious suite, the Deluxe Villa, which added dramatic features and high-end finishes to make bold graphic statements on an otherwise simple layout.

Another work of art, a seamless fusion of good spatial design amidst the environs, is The Club at the Marina Bay Sands in Singapore. The beautiful space features walls in polished satin and matte bronze rods that serve as mini private screens and visual backdrops

that mimic Singapore’s cityscape. Custom accessories like pendants reminiscent of metallic clouds highlight its ceilings, and beautiful carpets in modern patterns give a sense of the outdoors, complementing the panoramic view of the skyline.

MFD has been winning awards since 2014 for designs for hotel restaurants, hotel suites, and lobby lounges. In 2019, the firm won an award for its design of the Presidential Suite at the Conrad Manila Hotel in Pasay City.

Setting the Gold standard in design

LOCATED at the bustling Ninoy Aquino Avenue is the first township of SM Development Corporation (SMDC) called Gold City, which is a benchmark in premier township development. Featuring various residential and commercial developments in a sprawling masterplanned community, Gold City will be setting the standard for an upscale live-work-play lifestyle, a vision that will soon turn to reality.

SMDC tapped MFD because of its portfolio of exemplary designs in hotel and spa interiors in the Philippines and around the world.

The common spaces of Gold Residences combine timeless glamour with visual impact and art.

The lobby is a key interior feature. Layering the black and gold elements provides soothing comfort that

speaks of luxury. A visual treat, it exudes impeccable taste and luxury. Crystal lights hanging from the ceiling demands to be noticed as it serves as complementing installation to the double-height custom art screens, which set the mood of space – warm yet commanding.

Marbles, gilded stones, and other organic elements make the environment rich and substantial.

Sustainability is the core of the design guidelines.

The design planning started in the midst of the global pandemic, and while sustainability has always been a part of MFD’s design work, it has even become more important now. “I would like to believe (that) adversity brings positive change. We have to keep finding ways to create a meaningful experience,” Fiebrich says. Antimicrobial features were incorporated in the building elements. Realizing how fragile the supply chain is, MFD sourced out design materials locally wherever possible.

Gold Residences will offer generous physical spaces that will create a sense of wellbeing, comfort, and safety.

Strong design statements like art installations, features, and lighting welcome residents to their new home. MFD has a firm resolve to maintain an atmosphere of liveable luxury. “Our residents should feel they have arrived somewhere important,” Fiebrich says.

And that place is their home. For more information on Gold Residences, visit https://smdc.com/properties/ gold-residences/

T can be said that the Filipinos’ Christmas table is a testament to our generous spirit and gracious hospitality. After all, this is where we showcase our cuisine, no matter how simple or extravagant the food may be.

And right in the middle of all the festive preparations is our mother, who knows what delicious dishes to lovingly prepare in order to delight the whole family.

Weeks even before everyone gathers for Noche Buena or Christmas lunch, she had already bought all the ingredients from the market or grocery, and had toiled in the kitchen for days and nights to perfect her culinary specialties. And no matter how tired she may be, her heart is warmly rewarded when her family shows appreciation for all her efforts.

Embodying a mother’s heart is Mrs. Garcia’s, the popular meat shop renowned for her quality meat and meat products. Beyond being a successful brand, however, Mrs. Garcia’s is attuned to your needs and is concerned about your safety and wellbeing. That is why she has found ways to make it easier for you to avail of her meat products during this pandemic season, when our movements are restricted and the threat of COVID-19 remains.

Mrs. Garcia’s meats are available in leading supermarkets nationwide, and in some areas, the meats can also be delivered right to their doorstep.

But particularly for the Christmas season, you can avoid the holiday rush by simply ordering online in the comfort and safety of your home. This option is contactless and shields you from the COVID-19 virus that is still out there.

Also, you won’t need to lift heavy kilos of

meat products that you had purchased as your online orders will be delivered to you free within Metro Manila. Just visit Mrs. Garcia’s online store at https:// mrsgarcias.com.ph .

Mrs. Garcia’s by Meatworld International Inc. has been bringing quality farm-fresh meats closer to families since 1996. With a wide variety of meat categories and cuts, Mrs. Garcia’s makes sure that the right meat you need will be available for your family’s favorite recipe. Mrs. Garcia’s is available in over 440 major supermarkets (and still growing) or order online at https:// mrsgarcias.com.ph/. Mrs. Garcia’s is also giving you an opportunity to earn by inviting you to partner with the company as resellers. To inquire about reselling, contact 0917-837-4898.

For more information about Mrs. Garcia’s meat and meat products, latest news, promos, and how to become a reseller, check out https://mrsgarcias. com.ph/ and on Facebook: https://www. facebook.com/MrsGarciasMeats .

Envoys&Expats BusinessMirror

B7 Thursday, November 12, 2020

POLLS WATCH Chargé d’Affaires John Law speaks at the sidelines of the 2020 United States

Presidential Election Watch at the US Embassy. Law said ties between the US and the Philippines will remain strong, regardless of the election turnout, which was eventually won by Democrat and former vice president Joseph R. Biden. PNA/AVITO C. DALAN

EXPLORING OPPORTUNITIES European Chamber of Commerce of the Philippines

Executive Director Florian Gottein (left) and Hungary’s Ambassador-designate Dr. Titanilla Tóth (center) recently reviewed areas of their cooperation. The Hungarian Embassy has committed to join the Education Advocacy Committee established by ECCP and its Southern Mindanao Business Council to promote learning opportunities in Mindanao. EMBASSY OF HUNGARY FB PAGE

www.businessmirror.com.ph

RICE DONATION

The Embassy of Japan’s Economic Minister Masahiro Nakata (second from left) led a ceremonial turnover of 425 metric tons of rice from his country’s Ministry of Agriculture, Forestry and Fisheries for the benefit of the survivors of the Taal Volcano eruption in January. The donation was under the framework of the Asean+3 Emergency Rice Reserve, a regional cooperation among the bloc’s member-countries aiming to strengthen food security, alleviate poverty and eradicate malnourishment.

Nations convey support, solidarity in wake of Rolly

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HE Philippine government has received a torrent of support and messages of solidarity from the global community in the aftermath of Supertyphoon Rolly’s (international name Goni) onslaught early in November.

For one, the European Union (EU) has allocated €1.3 million (almost P63 million) in rapid humanitarianaid funding for emergency-relief assistance delivery to families affected by the planet’s strongest storm of the year.

EU Commissioner for Crisis Management Janez Lenarčič said that the contribution will support Filipinos through humanitarian-aid partners on the ground who are providing critical support to those hit hardest

by Rolly: “It will not only cover immediate needs of the most affected populations, but will also help the Filipino people restore their homes and livelihoods so they can get back on their feet as soon as possible.”

“The EU stands in solidarity with those affected in the Philippines,” he added.

The funding, part of the bloc’s Acute Large Emergency Response Tool or ALERT, will support humanitarian-aid partners to respond to the pressing needs of those most in need. These include shelter, food and livelihood assistance, as well as access to clean water and health care.

ALERT addresses large natural disasters where over 100,000 people, or more than 50 percent of the population, are affected. Depending on the type of disaster, the aim is to allocate funds within 24 to 48 hours of the onset of the emergency.

According to the EU in a tweet, a humanitarian-aid expert has been deployed to the affected areas to fur-

ther assess the situation and needs.

Meanwhile, the United Kingdom has earmarked £1 million, or about P62.9 million, to assist the victims of recent typhoons in the Philippines as well as Vietnam, which was also in the direct path of Rolly. “[The...aid package will help deliver] life-saving food, clean water and safe shelter to those who need it most, and help both [countries] recover from such destructive natural disasters,” UK’s Foreign, Commonwealth and Development Office Minister for Asia Nigel Adams said.

The aid will be coursed through the International Federation of Red Cross (IFRC) and local Red Cross partners, which will provide shelter, clean water, food, and support livelihoods to around 80,000 in the Philippines and 160,000 people in Vietnam. Adams said the IFRC has already launched separate “emergency appeals” for both countries to scale up the Red Cross response.

In the Philippines, the IFRC, along with the government and other partners, is currently assessing the damage by Rolly in locations urgently needing assistance.

Ambassador Daniel Pruce hoped the grant would assist badly hit areas and affected families to reel from the effects of the howler. “It has been such a tragedy to see the devastating impact of Rolly on so many people here in the Philippines. I hope the UK contribution to IFRC helps families and communities recover.”

COUNTRIES and delegations, including the European Union, have pledged aid to the Filipinos after Rolly slammed into the Bicol Region and parts of Luzon early this month. EMBASSY OF THE EU DELEGATION

Aid agencies involved

FOR their part, the United States and Australia have mobilized humanitarian assistance to support the Philippines’s recovery from the super typhoon. US Embassy’s Chargé d’Affaires John Law said Washington is working with various global organizations in the Philippines to provide relief to the most affected areas.

“Our thoughts are with those affected by...Rolly The US stands ready to help,” Law posted in a tweet. “We are working with [the Philippine offices of the World Food Programme and the International Organization for Migration] to deliver relief supplies and provide emergency shelter supplies in Bicol.”

The US Embassy in Manila also deployed 35 trucks to the government to assist in the delivery of supplies.

Australia’s Ambassador Steven J. Robinson AO said Canberra has also provided relief items through the Philippine Red Cross (PRC).

“I extend my sympathies to the [Filipinos] for the loss of life due to Rolly,” Robinson tweeted. “Australia is supporting the Philippine government’s response efforts. With the [PRC,] we are assisting 1,000 vulner-

able families in the Bicol Region with sleeping, hygiene and emergency shelter kits.”

He likewise commended the Philippines’s preparedness despite the challenges of the pandemic: “Australia stands ready to support the Philippine government, and we are working with humanitarian partners in identifying needs. This is a time for mateship and bayanihan.”

Help from all over

CHINA also said it is ready to join the government’s recovery efforts to help those affected by the typhoon, as it sent a message of solidarity to the Filipino people.

“We are deeply saddened by the massive destruction caused by...

Rolly. Our heartfelt condolences and sympathies to the victims and the families who have suffered immense losses of lives and properties, and [we] sincerely hope for speedy recovery in the affected areas,” the Chinese Embassy in Manila said in a statement.

Turkey’s Foreign Ministry likewise extended its condolences to relatives of the victims and the Filipino people affected by the typhoon immediately after. The ministry said

SFA welcomes UNDP Phils.’ new resident representative

it “learned with sorrow about the loss of lives and extensive damage it caused,” and wished speedy recovery to the injured.

The Embassy of Japan in the Philippines also expressed its deepest sorrow over the significant flooding and severe damages caused by Rolly that hit the southern part of Luzon.

It conveyed its condolences to the families of disaster victims as well as to the Philippine government, and wished immediate recovery to overcome immediate challenges.

The Embassy of Switzerland has also conveyed its solidarity with the Philippines as it continues “to learn about the destruction caused by Rolly.” Ambassador Alain Gaschen sent his sincere condolences as the Swiss peoples’ thoughts are with the victims and their families, while they are hoping for the quick recovery of the affected areas.

With regard to the death and destruction wrought by Rolly, the Embassy of France to the Philippines has sympathized with “all [who are affected by this catastrophe, as we] express our solidarity with the Filipino people and...local authorities.”

Condolences, commiseration

THROUGH its embassy in Manila, Bangladesh’s Foreign Minister Dr. A. K. Abdul Momen, M.P. wrote to Secretary of Foreign Affairs Teodoro L. Locsin Jr. conveying his country’s “deepest condolences” for the loss of lives and livelihood due to Rolly. Citing the South Asian nation’s vulnerability to frequent natural calamities like the Philippines, Momen assured Locsin that their countries will work together on climate-change adaptation and mitigation issues.

The Embassy of Singapore in Manila has also announced that its government “will contribute $200,000 as seed money to support the Singapore Red Cross’ public fund-raising appeal to aid disaster relief and recovery operations” in the Philippines, as well as Vietnam, Cambodia and Lao

PDR. Said aid will supplement SRC’s earlier donations of S$50,000 to the PRC. Its Ministry of Foreign Affairs said that as “a close friend and fellow Asean member-state, Singapore stands by Vietnam, Cambodia, [Lao PDR] and the Philippines at this difficult time.”

The government of the United Arab Emirates has also provided humanitarian assistance through the PRC to support Filipinos affected by the devastation wrought by Rolly. The Embassy of Germany has likewise transported relief goods, which were shipped by the Philippine Coast Guard to Catanduanes on November 4.

In their respective social-media posts, the Taipei Economic and Cultural Office in the Philippines wished for everyone’s safety on November 1, while the Embassy of the Russian Federation in the Philippines sent its peoples’ commiseration to the Filipinos suffering from Rolly’s plight, especially those in Bicol.

Canada also said its humanitarian partners and experts have assessed the situation, as it “stands ready to assist as appropriate.”

Rolly has so far affected more than 2 million Filipinos across five regions in the central and northern parts of the country, including the National Capital Region. More than 500,000 have been forced to flee their homes and seek shelter in government-run evacuation centers.

Considered the strongest storm to hit the archipelago since Supertyphoon Yolanda (international name Haiyan) in 2013, Rolly made landfall in the early morning of November 1 in the island-province of Catanduanes in the Bicol region, with maximum sustained winds of 225 kilometers per hour near the center.

Initial assessments suggest that up to 90 percent of homes in the municipality of Virac have been either damaged or destroyed. (With reports from the DFA, PNA’s Joyce L. Rocamora and embassies’ social media accounts.)

Israel, DND join forces versus the coronavirus

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N a virtual courtesy call, newly appointed resident representative of the United Nations Development Programme (UNDP) in the Philippines Dr. Selva Ramachandran presented his letter of credence to Secretary of Foreign Affairs Teodoro L. Locsin Jr. During their online meeting, Locsin recognized the UNDP’s work in complementing the Philippine government’s response and recovery work in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), then expressed his appreciation of the agency’s aid to the government in the capture and analysis of data for well-informed policy and decision-making in response to the pandemic.

In turn, Dr. Ramachandran reiterated the UNDP’s steadfast

SECRETARY Teodoro L. Locsin Jr. (left) and the United Nations Development Programme’s representative to the Philippines Dr. Selva Ramachandran.

commitment to support the country in effectively managing the health crisis and laying the foundations for an inclusive recovery.

This will be achieved, he said, by building capacity for anticipatory governance and resilience especially in geographically isolated and disadvantaged areas, as well as regaining momentum toward

the attainment of the sustainable development goals. He also highlighted the importance of digitalization and green solutions in attaining the SDGs. A Malaysian national, Dr. Ramachandran is a seasoned development practitioner with more than 27 years in the development sector.

Prior to his recent appointment,

he had served in the same capacity and as country director of UNDP Sudan from 2015 to 2020. He was also UNDP Libya’s country director between 2014 and June 2015; chief of North East Asia and Mekong Division, Regional Bureau of Asia and Pacific, New York (2010 to 2014); and UNDP Yemen’s country director (2007 to 2010).

DEFENSE Secretary Delfin N. Lorenzana (center) and Ambassador Rafael Harpaz (second from left) at the recent turnover event.

HE State of Israel’s Ministry of Defense has and capability upgrade.” He added that in these chalprovided 10,000 coronavirus disease 2019 (Colenging times, both countries will combine forces to vid-19) test kits to the Department of National combat Covid-19.

Defense (DND) to further aid the Philippine military’s In his message, Shabtay pointed out the imporpandemic response. tance of multiple checks and early diagnosis of virus The handover ceremony on November 5 at Camp carriers: “I hope that this humble contribution will General Emilio Aguinaldo in Quezon City was headed assist in those efforts while we wait for a vaccine.”

by Defense Secretary Delfin N. Lorenzana and AmbasIn a separate meeting, the officials and diplosador Rafael Harpaz. Israel’s Ministry of Defense, or SImats discussed strengthening and expanding their BAT, was represented by Defense Attaché Raz Shabtay. defense cooperation, including counterterrorism as Harpaz said Israel and the Philippines are “friends well as sharing of military technologies and experiand allies when it comes to military modernization ence, among others.

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B8 Thursday, November 12, 2020 | mirror_sports@yahoo.com.ph

Sports BusinessMirror

Editor: Jun Lomibao

PIA-RISA FACE OFF ON SEAG VENUE CAYETANO

HONTIVEROS

By Butch Fernandez

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@butchfBM

LLEGATIONS of possible fraud in building the acclaimed world-class facilities used for the 30th Southeast Asian (SEA) Games, which saw the Philippines emerge as overall champion, have put two of the Senate’s most articulate members at loggerheads.

Late Tuesday, Sen. Risa Hontiveros, in a privileged speech, sought a Senate inquiry into a supposedly questionable P9.5-billion loan facilitated by the Bases Conversion and Development Authority (BCDA) for the construction of sports facilities used during the Games, amid what her office deemed signs that the project was a “fake joint venture” funded with a “behest loan” disadvantageous to the public.

In her privilege speech for proposed Senate Resolution No. 567, Hontiveros urged the Senate to probe the issues surrounding the multibillion credit arrangement involving the BCDA and Malaysian developer MTD Capital Berhad, which entered into a Joint Venture Agreement (JVA) for the construction of sports facilities in New Clark City.

“Given the billions that went to building the facilities used in the SEA Games, we must see to it that the transactions related to this project did not violate existing laws and policies, and were

not prejudicial to the public,” Hontiveros said, adding in Filipino, “It looks like the agreement entered into by BCDA was ‘cooked,’ and because of that, the government and the public were put at a disadvantage.”

Hontiveros’s speech and call for an inquiry were met with indignation by Sen. Pia Cayetano, herself an athlete and sister of Rep. Alan Peter Cayetano, who had headed a private foundation that ran the 2019 Games and drew both flak, and later acclaim, for the Philippines’s stunning victories, besides the fact that the venues quickly obtained international certifications and were built ahead of schedule despite a wrenchingly tight deadline.

“The project that her honor [Hontiveros] has flashed on the screen is very close to my heart. I am an athlete. I am also a national team player in my youth. And I was there when there were only beams. And I continually checked on it in the days [that came]. Mr. President, this is a world-class stadium built in record time, with the advice of no less than—if I am not mistaken, and I can check for the record—World Bank and/or ADB [Asian Development Bank] on how to finance and how to do this project,” Cayetano said in calling out Hontiveros for making the claims.

Cayetano also bristled at Hontiveros’s concern that the facilities for which taxpayers paid billions would become a “white elephant.”

“How can it be a white elephant? Madam Sponsor, do you even know what are the conditions of our sports facilities for you to say that what is world-class will become a white elephant?

Aren’t you aware that we’ve already passed the National Academy of Sports?” where, she reminded Hontiveros, “our athletes, our youths will study and train? These are our future Manny Pacquiaos,” she added, referring to the eight-division boxing icon who now sits in the Senate.

Cayetano said critics of such world-class facilities, the sight of which had brought athletes “to tears of joy” as they can finally have a decent place to train in, dishonor the country’s athletes.

“Were it not for Bayanihan 2, these athletes would not have gotten their allowance which was cut during the pandemic, and this is “no thanks to PSC,” she added, but to “[former House] Speaker Alan Cayetano, Congressman Bambol Tolentino, and Senator Sonny Angara.”

BCDA’s DIZON SUED

UNDER the JVA signed in February 2018 by BCDA President and CEO Vince Dizon, who is currently facing graft and corruption charges before the Office of the Ombudsman in connection with the conduct of the 2019 SEA Games, the Malaysian developer MTD Capital Berhad was to “advance” the entire project cost of P8.5 billion, while BCDA was to provide the land on which the facilities would be built.

However, Hontiveros noted that MTD actually advanced nothing as the capital it was supposed to provide was funded by a P9.5-billion loan from government-owned Development Bank of the Philippines (DBP)—was approved in March 2018, one month after the JVA was signed in February.

Aside from being contractually obligated to facilitate the loan, the BCDA was also obliged to reimburse MTD for the capital it had supposedly “advanced,” which the BCDA did in December 2019, when it paid the full amount of the loan using a P9.544billion appropriation in the 2019 national budget.

Thus, Hontiveros alleged, the project was funded

not by capital from MTD Berhad, as the “Joint Venture” would make it appear, but rather by taxes paid by the Filipino people.

Hontiveros wants the Senate to inquire if the P9.5-billion credit arrangement facilitated by BCDA was a “behest loan,” or a loan granted to firms favored by top government officials.

She pointed out that the JVA between BCDA and MTD was red-flagged by other government agencies, such as the Commission on Audit (COA), which said in its 2019 Annual Audit Report that the project should have been been structured as a Build-Transfer arrangement under the Build Operate Transfer (BOT) Law. She quoted the COA as saying the JVA arrangement “was prejudicial to the interests of the government because, among others, the project should have gone through the more stringent public bidding requirements.”

Thus, she said it also appears that the project was packaged as a joint venture to evade the rules on public bidding. The Office of the Government Corporate Counsel (OGCC), under its former chief Rudolf Jurado, initially issued an opinion adverse to the project, stating that it should have been structured as a build-transfer and not a joint venture. However, Hontiveros continued, after Jurado was replaced by Elpidio Vega, the OGCC issued a new opinion declaring the JVA to be above-board, “reportedly after undue pressure from the BCDA.” In reacting to Hontiveros, Cayetano admitted she did not have the details yet of the transactions that enabled the building of the facilities, as she was busy sponsoring CREATE, the tax reform bill. “And I am the Senior Vice Chair of the Committee on Finance,” she said.

But she cautioned “Senator Risa” to desist from continuing to cast aspersion on a project that benefited and continues to benefit athletes, who she noted had been deprived of their allowance in “10 months of lockdowns.”

“This is their livelihood. And you know, the only thing they have left is their pride. So when we do things like that, we slap them in the face. That is what we do, Mr. President.

And when her honor chooses to use words

like white elephant, you make the people who bother listening to us...to question our judgment. The more that they question the things that we do to make those who need more in life, to give them a better life. And that is exactly what that project was all about.

Why, was that project something we can eat? No. Why was it built?” Because it had a purpose. We were in line to sponsor, to host the SEA Games. Was there enough time to go through all the steps? I don’t know. But I am sure there is a logical reason because the President of BCDA is one of those persons that is highly respected in this government,” she said, referring to Dizon.

She noted that Dizon is a man of action, and this is why he was pulled in to assist the IATF with the testing, the capacity building, putting up quarantine centers.

“Vince Dizon would not bother to cut short corners just to be criticized in this manner. He did what he did so we can build a stadium the Philippines can be proud of,” Cayetano said, referring to the Games venues in Capas, Tarlac.

Cayetano reminded her peers “the Southeast Asian Games would not have been as successful as it was if it had only the dilapidated stadium of Rizal Memorial, [and] Ultra. May I ask her honor if she has seen the place? Because the national track and field team, when they visited it around September, before the SEA Games commenced, they went there for the first time. Does her honor know that they cried when they saw the stadium?

They cried when they had the opportunity to run on the turf. Why? Because they had been practicing in a rundown stadium.”

“Only a lucky few can be a Manny Pacquiao who had the opportunity to raise himself and have sponsors. But not all sports are like boxing and basketball that have a strong following.

Many of these athletes will never even be remembered. But on that day that we won the Gold Medal, the entire Southeast Asian countries gave their due respect to the Filipino athletes,” Cayetano concluded.

TOLENTINO SAYS FILING OF SUIT VS. PHISGOC REEKS OF POLITICS

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By Josef Ramos

HILIPPINE Olympic Committee (POC) President Rep. Abraham “Bambol”Tolentino accused seven members of the POC Executive Board of employing political tactics to sway votes in their favor in the organization’s Olympic cycle elections on November 27.

“It is definitely 101 percent [pure politics]. It is just a political stand,”said Tolentino during the official unveiling of the Philippines 2019 Southeast Asian Games Final Report book on Wednesday at the Kalayaan Hall of the SM Aura in Taguig City.

“Why do you sue Phisgoc [Philippine SEA Games Organizing Committee] with specific performance? It [Phisgoc] didn’t refuse to submit its financial and periodic reports. It’s because Phisgoc isn’t done yet in its report and that’s why it is not submitting anything yet, it’s as simple as that.”

The camp of archery head Atty. Jesus Clint Aranas, Tolentino’s lone opponent for the presidency, and six other board members filed on Tuesday at the Pasig City Regional Trial Court a specific performance suit against the Phisgoc.

The group insisted that the Phisgoc should have submitted a financial report to the POC in earnest as stated in a memorandum of agreement among the tripartite committee members Phisgoc, POC and the Philippine Sports Commission (PSC).

Besides Aranas, the complainants included POC first vice president Jose Romasanta, second vice president Jeff Tamayo, treasurer Julian Camacho, auditor Jonne Go, board member Robert Mananquil and chairman Steve Hontiveros.

Tolentino stressed the Phisgoc didn’t violate any provision of the tripartite agreement because the auditing firm PricewaterCooperhouse wanted to complete its task and that neither the Phisgoc nor POCA

could compel the internationally reputable auditing company to submit a raw report.

“How can you finalize it [audit] 60 days after or a year after, or whatever date, if you’re not done closing the books because you are still paying somebody else? Hopefully in a week or two from now, they’ll already finished the audit,” he added.

Payments to the SEA Games suppliers were done on a staggered basis based on the PSC’s remittance to the Phisgoc and with the Covid-19 pandemic prevailing, the government sports agency remained as helpless in securing funds.

The Phisgoc received the last tranche of payment for unpaid suppliers only last September 4.

Tolentino, along with Phisgoc Chairman Rep. Alan Peter Cayetano and President and COO Ramon Suzara and PSC Commissioner Arnold Agustin presided over the unveiling ceremony of the 300-page, hardbound Final Report, which is an official document required of all SEA Games hosts.

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Zubiri appeals arnis inclusion in 2021 SEAG

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ENATE Majority Leader Juan Miguel Zubiri made a last ditch appeal to the Vietnam Olympic Committee (VOC) to include arnis in the 31st Southeast Asian Games set from November 21 to December 2.

“We appealed to them to include arnis because Vietnam is also very competitive in arnis,” said Zubiri, the president of the Philippine Eskrima Kali Arnis Federation.

Zubiri wrote VOC Secretary-General Manh Van Tran early this month.

Vietnam’s military-discipline approach, according to Zubiri, make their arnis program competitive. The Vietnamese bagged four gold medals to finish second behind the Philippines (14 golds) in last year’s 30th Southeast Asian Games.

“They have the potential to be the overall champion, they also have the home court advantage now,” he said.

“If worse comes to worst and our appeal won’t get through, we will focus on the world championships in Cebu late next year,” Zubiri said. Josef Ramos

Team sports athletes get allowances

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HE Philippine Sports Commission (PSC) will reactivate the allowances of national athletes in team sports for the rest of the year following the passing into law of the Bayanihan Act 2.

The PSC also said the team sports athletes will be reimbursed of the 50 percent that was cut from their allowances in June and July.

The PSC stopped giving allowances to members of team sports in July as per a sports agency’s policy, but because of their successful campaign in the 30th Southeast Asian Games last December, this was relaxed.

Philippine Sports Commission (PSC) Chairman William Ramirez thanked the House, Senate and President Duterte for including a budget for the national team in the coverage of the Bayanihan Act 2 or Republic Act No. 11494.

“A community coming together really makes a whole lot of difference,” said Ramirez, citing Philippine Olympic Committee (POC) President Rep. Abraham Tolentino’s enormous effort in including the financial relief for athletes and coaches.

A total of 199 athletes and 39 coaches in aquatics-water polo, baseball, dragonboat, handball, ice hockey, softball, underwater hockey and volleyball are benifitting from the Bayanihan Act 2.

They will also be entitled to P5,000 each in pandemic financial package. The Bayanihan Act 2 set aside P180 million specifically for the athletes and coaches’ allowances.

PHILIPPINE Southeast Asian Games Organizing Committee Chairman Rep. Alan Peter Cayetano (third from left) unveils the 30th SEA Games Final Report book along with (from left) Philippine Sports Commission Commissioner Arnold Agustin, Phisgoc President and Chief Operating Officer Ramon “Tats” Suzara and Philippine Olympic Committee President Abraham “Bambol” Tolentino. NONIE REYES

Schrock savors United City victory INNING has become sort of a habit for Filipino-German Stephan Schrock, but hoisting the trophy in a unique environment where there are no fans cheering from the stands makes a big difference.

“The feeling of winning a title never gets old,” Schrock said. “But the new set up and all the struggle and uncertainty before the contest makes this one for sure the most memorable title in my career.”

United City Football Club topped the Philippine Football League with a 4-1-0 winloss-draw record at the Philippine Football Federation Training Center in Carmona, Cavite, on Monday night.

ZUBIRI

“We worked very, very hard the entire year for this,” United City team captain Schrock said.

“There were many things that came together for this SCHROCK group.”

Schrock started playing for the team, then known as Ceres Negros, in 2016 as a loaned player. He was officially signed a year by the team he called his “family.”

“We feel like we are a very tight family, helping each other out and looking after each

other and that showed with our performances on the pitch, “ said Schrock, who received the Golden Ball in the league.

Playing in the bubble, Schrock said, is one experience he won’t forget.

“The bubble is kind of boring, to be honest,” he said with a chuckle. “But we made the best out of it and we were just grateful to play.”

Schrock was born in Schweinfurt, Germany, to a German father and Filipina mom who hails from Parang, Maguindanao. He played for the Azkals in the 2014 FIFA World Cup Qualification Round, shifting nationality after he played for Germany in U18 and U20 competitions.

He tried to follow his dad’s footsteps as a boxer, but fell in love with football. The 34-yearold midfielder almost missed the season after he was stranded in Germany during the lockdown.

Annie Abad