BusinessMirror October 05, 2020

OSG FLAGS DIRE IMPACT OF CONSTRUCTION LIB

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Monday, October 5, 2020 Vol. 15 No. 361

P25.00 nationwide | 2 sections 16 pages |

AND all creation rightly gives you praise....A pair of lovebirds (upper photo center) and these two dogs seem to anticipate the drops of holy water from the sprinkler held by Father Aries Sison of Saint John Paul Parish, as he initiates a pandemic-suited blessing of animals, normally done in early October, in honor of St. Francis Of Assisi, the patron saint of animals.

Eastwood City, which hosted the unique “drive-through pet blessing” on Sunday, celebrates 15 years of safe and responsible pet ownership as it touts its brand of being a pet-friendly venue. NONIE REYES

A MAN enters the Padre Pio Church in Quezon City, through a hallway where thousands of rosaries dangle. At the compound of the church bearing the name of one of Catholicism’s most revered saints, rosaries are usually left with prayers inside. The month of October each year is dedicated to the Most Holy Rosary, and the liturgical feast of Our Lady of the Rosary is celebrated annually on October 7. NONIE REYES

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By Joel R. San Juan

@jrsanjuan1573

HE government has warned the Supreme Court of the adverse impact on the country’s economy of its recent decision allowing foreign construction firms to obtain a regular license to engage in any private or government project in the country.

Thus, Solicitor General Jose Calida sought the reversal of the Court’s March 10 decision, made public on August 26, upholding a lower court resolution declaring void a provision in the implementing rules and regulations (IRR) of Republic Act 4566, which classifies the licenses that may be issued by the Philippine Constructors Accreditation Board (PCAB).

The OSG argued that the decision is untimely, considering how the Covid-19 pandemic has worsened the unemployment rate.

Calida said the decision would open the door for the entry of more players to the local construction market, which accounts for 10 percent of the country’s total employment.

He noted that foreign contractors usually bring their own na-

tionals to work on their projects, thus, denying Filipino workers of employment opportunities.

Calida cited the projects being undertaken by Chinese contractors, where they employed their own nationals.

Undue advantage

“THE entry of foreign contractors with their undue advantage will not only displace current professionals and workers in the industry, but will reduce employment opportunities for returning overseas Filipino workers,” Calida stressed.

“Undeniably, MSMEs [micro, small and medium enterprises] comprising of 97 percent of the registered contractors who are reeling from debilitating effects of the pandemic will further be subjected to foreign competitors whose

wider supply chain networks and support from their respective government will put them at a disadvantage,” he added.

Likewise, the OSG said allowing the issuance of regular license to foreign contractors would mean the unbridled influx of foreign contractors to the detriment of local MSMEs. The OSG’s position was supported by the country’s leading construction groups, including the Philippine Constructors Association Inc. (PCA), Cebu Contractors Association Inc., and Davao Constructors Association Center Inc. They joined their members and fellow organizations in filing three separate motions for reconsideration-in-intervention in the case of PCAB vs. Manila Water Co. Inc. Continued on A2

House ‘appro’ panel: Row won’t delay budget

By Jovee Marie N. dela Cruz

A

@joveemarie

MID a raging power struggle in the House of Representatives, the chamber’s appropriations panel head maintained that next week’s target passage of the proposed P4.5-trillion 2021 budget bill remains ontrack.

House Committee on Appropriations chief Eric Go Yap said the October 14 deadline for the

passage of the 2021 national budget will remain unchanged despite the speakership row.

“We are locked in on budget deliberations to pass it on time,” he said. Yap said the proposed General Apppropriations Act for 2021 will be transmitted to the Senate before its congressional break on October 17.

Based on the schedule of budget discussions, the plenary will finish the debates by Friday and will immediately open the period

PESO EXCHANGE RATES n US 48.4580

of amendments.

After the period of amendments, the voting on House Bill 7727 or the 2021 GAA on second reading will be conducted. The bill shall be submitted to final vote after printed copies thereof in final form have been distributed to the members at least three days prior to their passage, except when the President of the Philippines certifies to the necessity.

Earlier, the Palace reminded

the lawmakers on the importance of passing the proposed P4.506trillion national budget for 2021 despite the power dispute in the chamber.

Velasco’s appeal

MARINDUQUE Rep. Lord Allan Velasco, in a statement, appealed to Speaker Alan Peter Cayetano to finish the deliberations on the proposed budget and resign by October 14.

Continued on A4

‘LOWERING INTEREST RATES NOT ENOUGH TO BOOST LENDING’

By Tyrone Jasper C. Piad @Tyronepiad

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T will take more than low interest rates to prop up the economy, an economist said, noting that the banking sector’s loan growth is still slowing down.

Bank of the Philippine Islands (BPI) Lead Economist Emilio Neri Jr. said the demand for bank borrowings has declined despite the ample liquidity injected by the Bangko Sentral ng Pilipinas (BSP) into the financial system.

“The lack of absorption and expansion activities on the part of the private sector has reduced the real demand for loans, leading to a slowdown in industry loan growth,” he explained.

Last week, the Central Bank reported that the growth in outstanding loans of universal and commercial banks decelerated to 4.7 percent in August from 6.7 percent in July. This is the sixth time that the bank lending growth dropped month-on-month this year.

BSP attributed the slump to weaker performance of the companies, decreasing demand for loan and risk aversion among banks.

The BPI economist agreed, saying that the “risk aversion on the

part of the banks given the possibility of defaults is also contributing to this slowdown.”

At the same time, Neri said the easing of monetary policy should be supported by policies seen to boost spending.

“In our view, monetary policy has done so much to support the economy, but these need to be complemented by policies that will increase aggregate demand and improve consumer and business confidence to spend,” Neri said.

“We reiterate the need for more aggressive government spending, especially in intensified testing and tracing, solutions that will boost public confidence in the use of mass transport, as well as those that will reduce the obstacles to technology and e-commerce,” he continued.

Optimistic outlook RCBC Chief Economist Michael L. Ricafort, meanwhile, is hopeful that demand for loans will return as the capital region and neighboring provinces were placed under general community quarantine (GCQ).

With eased lockdown measures, more business activities are expected to resume.

See “Interest rates,” A2

n JAPAN 0.4592 n UK 62.4624 n HK 6.2529 n CHINA 7.1106 n SINGAPORE 35.5551 n AUSTRALIA 34.8122 n EU 56.9236 n SAUDI ARABIA 12.9197

Source: BSP (October 2, 2020)

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BusinessMirror

A2 Monday, October 5, 2020

Bulacan airport, coco levy, CREATE on Senate priority

By Butch Fernandez @butchfBM

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HE Senate is set to frontload passage of at least three bills with major economic impact on pandemic-hit sectors before it suspends sessions on October 17—prolonging its work by two to three days beyond the original October 14 break.

In an interview with DWIZ at the weekend, Senate President Vicente Sotto III said the chamber’s leadership hopes to pass on third and final reading the bill granting a franchise to the Bulacan Aerocity project, the re-filed coconut levy bill, and “hopefully,” the CREATE bill which reduces corporate income tax and reforms tax incentives.

Sotto clarified it is obvious the Senate is not likely to meet its original time line to pass the P4.5-trillion national budget for 2021, as the money measure is still in the House of Representatives, where it lost two precious days of deliberations last week over wranglings on the term-sharing deal between Speaker Alan Cayetano and Marinduque Rep. Lord Allan Velasco.

The budget aside, Sotto gave assurances that the deliberations on several bills “pending for third reading will stretch” until their scheduled suspension of sessions from October 17. The break runs through to November 15.

Asked if they were looking to approve the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, which has been pending in the Senate for over half a year, before October 17 adjournment, Sotto replied, “Sana.

Ideally dapat matapos ’yan bago mag katorse. Kasi pagbalik namin, November, puro budget na ang aatupagin diyan...[Hopefully. Ideally that should be finished by the 14th. Because when we come back, in November, we will be busy attending to the budget].”

At the same time, the Senate leader aired hopes that the re-filed coco levy bill will no longer be vetoed as the enabling legislation will finally allow coconut farmers to make productive use of the coco levy funds.

“Magsu-suspend lang kami. Pag nag suspend lang kami, ang ibig sabihin noon, hindi kami naka-adjourn. Yung pag re-resume namin ng November, mid-November after the Halloween break, resumption lang [We will just suspend sessions, which means, we are not adjourned. When we resume in mid-November that’s just a resumption of sessions],” Sotto said.

He indicated that senators were also keen on passing the San Miguel Corp.led Bulacan airport bill, or the Aerocity project, on third and final reading, noting that this is one project with great economic impact for which the government will not spend.

“We have other bills up for third reading, including projects at no cost to the government that the delay is embarassing to the private investors,” he said, but did not name the proponents. He noted that a three-day rule between second and third readings on priority bills will be a challenge, hence, their effort to speed up deliberations on deemed priority bills.

After passing the San Miguel Aerocity franchise bill, Sotto said senators will also tackle pending bills on third and final reading.

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DOTr halts use of beep cards for Edsa Busway on fee’s non-waiver

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By Lorenz S. Marasigan

@lorenzmarasigan

HE Department of Transportation (DOTr) is temporarily suspending the mandatory use of beep cards for the Edsa Busway, after AF Payments Inc. refused to waive the cost of the tap-and-go card that is currently being used for various modes of transportation.

“During their meeting with the Edsa Busway Consortia and the DOTr, AF Payments said they cannot waive the card fee. They said they don’t earn from it and they said they are making a loss from it,” Transportation Assistant Secretary Goddes Hope O. Libiran said in a text message.

With this, she said, commuters

may opt to pay for their Edsa Busway rides either via beep or via cash.

Edsa Busway Consortia personnel will be the ones to collect the cash payments.

Libiran added that the DOTr is “saddened” by the refusal to waive the card fees, “despite the consistent pleas made by the government.” This, she said, “would have

made a big difference to the commuters, mostly daily-wage earners who are most affected by the Covid-19 pandemic.”

“That’s why we are pushing for the waiving for the card fees only during the pandemic. Besides, they have already made a profit for their years of operating in public transport. Likewise, there are cards that have loads in them that have already expired, the load of which came back as revenue for them.

They also charge a reloading fee of P5,” Libiran said.

Libiran noted that Edsa Bus Consortia “will look for another automatic fare collection system provider, who can offer a better solution to the existing problem.”

The meeting is set for Tuesday.

An official of AF Payments was sought for comment, but was not available as of writing time.

The DOTr recently implemented the mandatory use of contactless payments for the Edsa Busway, which runs parallel to the Metro Rail Transit (MRT) Line 3. This was

to lessen queues and reduce human contact in the buses.

However, during the initial week of implementation, thousands of commuters were surprised by the fees, and many construction workers were said to have walked to work sites as they were not ready to shell out an initial P150—P80 for the card and P70 for the initial load.

AF Payments recently said that P80 is just a fraction of the actual cost of the card, which means that each card is still subsidized by the company.

The card fee was found by commuters to be too expensive; hence, the transport department sought for the waiving for the card costs in the meantime to relieve commuters of added burden.

Currently, there are 7 million beep cards in circulation. AF Payments is a company led by Metro Pacific Investments Corp. and Ayala Corp., which won the 2013 bidding for the P1.72-billion automated fare collection system deal by offering a P1.08-billion premium.

OSG FLAGS DIRE IMPACT OF CONSTRUCTION LIB Continued from A1

In its March 10 decision, the Court declared as unconstitutional Section 3.1 of the implementing rules and regulations (IRR) of Republic Act 4566, the law creating the Philippine Licensing Board for

Contractors.

That provision classifies the licenses that may be issued by PCAB to contractors into regular and special license.

Under Section 3.1 of the contractors’ license law’s IRR, companies with at least 60 percent Filipino equity participation can be granted a regular license, which gives them continuing authority to engage in many contracting activities throughout a one-year period.

Foreign firms can only be granted special license, and they need to have a separate license for each contract activity.

However, the SC declared that such provision was “a deterrent to the foreign players in the construction industry.”

It also agreed with the opinion of the Philippine Competition Commission (PCC) that nullifying the nationality requirement in the licensing scheme would level the playing field for local and foreign firms to undertake construction activities in the Philippines.

The OSG said the PCAB actually welcomes the entry of foreign contractors into the country; thus, the IRR recognizes the issuance of special license to address the current demands for the Philippines to be globally competitive and balance the participation of foreign contractors.

In fact, the OSG said Section 3.1 of the IRR was subsequently amended to allow the issuance of “regular license with annotation” to foreign firms with a capitalization of at least P1 billion.

Still, the OSG insisted that foreign contractors should compete with the local industry under the

“proper regulatory measures provided by the PCAB” and that locally funded low-cost projects that require no technical expertise or new technology should be reserved for local MSMEs, which comprise 97 percent or 15,061 of all 15,533 licensed contractors in the country.

“Should the assailed provision in the IRR be nullified, the easier entry of foreign contractors will allow foreign contractors to compete with local MSME contractors in relatively smaller projects,” the OSG warned.

No barrier

IT disputed the contention that the regulation deters the entry of foreign players in the country.

Citing PCAB records, the OSG said that a significant number of foreign companies were actually allowed to participate in the domestic government and private construction projects.

From July 2015 to December 2019, a total of 12,932 special licenses were issued by PCAB and 221 of these were given to wholly-owned foreign companies. Of the total, 12,448 and 263 special licenses were issued for joint venture (75 percent foreign and 25 percent Filipino) and consortium (40 percent foreign and 60 percent Filipino), respectively.

For the same period, foreign construction companies directly participated and won local projects with a total value of P1.1 trillion.

Data also showed that contractors given special licenses were able to participate in local projects with a total value of almost P2.98 trillion, which accounts for 25.86 percent of the total GDP by

Interest rates…

“For the coming months, loan growth could start to pick up after Metro Manila and nearby provinces were reverted back to GCQ well into September-October 2020, thereby leading to further pick up in business/economic activities as well as the demand for loans by businesses, consumers/ households, and other institutions,” he said.

Ricafort is also counting on the government’s signal to keep the economy as open as possible, which could translate to a pick-up in loan demand.

He stressed, however, that stringent measures and health protocols should be enforced and followed

Continued from A1

strictly to prevent the further spread of Covid-19.

“Prospectively, if the GCQ in Metro Manila is further eased to [modified] GCQ, this would further reopen the economy and would result [in a] faster pace of economic recovery as well as the demand for loans,” he added.

No policy cuts until year-end

NERI thinks the BSP is likely to keep its current policy rate until the end of the year.

“Low base from last year may keep inflation above 2.5 percent in the coming months,” he said.

“Hence, it might be more difficult to bring down the policy rates fur-

expenditure.

“Plainly, actual foreign participation belies the conclusion that Section 3.1 of the IRR of RA 4566 is effectively restrictive rather than purely regulatory.

Such conclusion is merely based on incomplete or outdated information presented by the PCC to show that the assailed regulation tends to deter the entry of foreign players in the construction industry,” the OSG stressed.

Stakeholders in the local construction industry also asked the Court to allow them to intervene in the case as they are likely to be adversely affected by the ruling.

Among them are C.M Pancho Construction Inc., EEI Corp., DATEM Inc., D.M. Consunji Inc., Will Decena and Associates Inc., DDT Konstract Inc., IPM Construction and Development Corp., First Balfour Inc., New Kanlaon Construction, and TRM Construction and Development Corp., all members of the PCA. Cebu Contractors Association Inc., together with Engineers Francis Gerard Canedo and Avelino Masong, likewise filed a petitionin-intervention in which it asked the Court to reverse its ruling on the case.

A separate motion for leave to intervene and to admit attached motion for reconsideration-inintervention was also filed by PC A Pampanga, Constructors Association of Negros Oriental Inc., Association of Carrier and Equipment Lessors-Davao Chapter, Los Contratistas de la Ciudad de Zamboanga Inc., and Davao Construction Association Center Inc. .

ther since doing this will bring real interest rates further to negative territory.”

Inflation rate stood at 2.4 percent in August. According to the BSP forecast, inflation is expected to settle at 2.3 percent this year, 2.8 percent in 2021 and 3 percent in 2022.

ING Bank Manila Economist Nicholas Antonio T. Mapa agreed with the view that the BSP would not be adjusting the monetary policy in the “near term,” noting that the real policy rate remains in the negative.

Last week, the Monetary Board kept BSP’s overnight reverse repurchase facility at 2.25 percent for the second time. Overnight deposit and lending rates stood at 1.75 percent and 2.75 percent, respectively.

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DTI’s Lopez: Boracay workers don’t need mandatory Covid-19 testing

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

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USINESSES on Boracay Island are not required to send their employees for Covid-19 tests every month.

This was clarified by Trade Secretary Ramon M. Lopez after learning about complaints of Boracay business owners of the costly RT-PCR test now being required by the Aklan Provincial Government. In a text message to the BusinessMirror, Lopez said, the monthly Covid-19 testing is “highly encouraged, not mandatory.”

Confusion over the testing of workers stemmed from the Aklan government’s Executive Order 037-2020 signed by Gov. Florencio T. Miraflores on September 30, which cited a provision in the joint memorandum circular 20-04 of the Department of Trade and Industry (DTI) and Department of Labor and Employment (DOLE) on August 14, 2020, that identified “all employees in the hospitality and tourism sectors in El Nido, Boracay, Coron, Panglao, Siargao and other tourist zones, as identified and declared by the Department of Tourism [DOT],” as “priority workers that shall undergo RT-PCR test...once every four [4] weeks.”

This testing requirement of Aklan government was specific to the order’s provision on “non-Aklanon employees and workers.”

A business owner, JCR, said, “We are talking about employees already on the island to be swab-tested every four weeks. Employees or even employers cannot afford that expense.”

An RT-PCR test, deemed the most accurate in determining the presence of the novel coronavirus in the body, costs anywhere from P4,000 to P6,500.

Results are made available from as short as five hours to five days, depending on the testing center.

Lopez said, however, both government agencies had released Advisory 20-01 on August 17,

which he signed along with Labor Secretary Silvestre H. Bello III, amending the August 14 memo’s provision on tourism workers to: “All workers and employees and employees in the hospitality and tourism sectors in El Nido, Boracay, Coron, Panglao, Siargao and other tourist zones, as identified and declared by the Department of Tourism MAY be tested once every four [4] weeks.”

(Underscoring theirs.)

“See, we don’t know who to listen to,” said NCB, another business owner on Boracay, when apprised of the DTI-DOLE advisory.

But Lopez underscored, “Even President Duterte mentioned asymptomatic [workers] are not required to undergo testing to get back to work.” The DTI-DOLE guidelines also said Covid-19 tests would be shouldered by employers, not the workers.

In a related development, Tourism Secretary Bernadette Romulo Puyat clarified that all tourists entering Boracay, even those from other provinces in Western Visayas (i.e., Iloilo, Antique, Capiz, Antique), are all required to undergo RT-PCR testing.

She made the clarification on reports that busloads of tourists from Iloilo were turned away at the Caticlan port on Saturday, because they have their Covid test results. She also stressed, Iloilo “is now a hot spot” after an increasing number of Covid cases were recently recorded, which is even more reason to undergo RT-PCR testing before visiting the popular resort island.

“Mayor [Frolibar S.] Bautista was asking not to include Western Visayas tourists in the RT-PCR testing requirement, but we [Boracay Inter-Agency Task Force] declined,” said the DOT chief.

She added, Miraflores “knows” the RT-PCR testing is required of Western Visayas tourists.

“He only asked that Aklanons would be exempted, to which [we] agreed.”

Editor: Vittorio V. Vitug • Monday, October 5, 2020 A3

Group vows to hike test-buy ops vs rogue steel makers, retailers

By Elijah Felice E. Rosales @alyasjah

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HE Philippine Iron and Steel Institute (Pisi) has vowed to multiply test buy operations to report manufacturers and retailers slipping in substandard steel in the market by exploiting quarantine restrictions.

Joel T. Ronquillo, vice president for technical affairs at Pisi, relayed to the Department of Trade and Industry (DTI) the sale of substandard rebars in hardware stores in Central Luzon. Further, he alleged the products were made

by Real Steel Corp. and Metrodragon Steel Corp., both of which are known to use induction furnace for steelmaking.

Pisi President Ronald C. Magsajo addedthegroupdiscoveredinitstestbuysthe prevalence of unmarked rebars, whose manufacturers cannot be identified, traced and sanctioned in case of emer-

gency, such as the collapse of a structure.

Magsajo said the Pisi will intensify its test buy operations to expose firms and retailers selling substandard steel to unsuspecting buyers. Likewise, he committed the group will work with the DTI in enforcing laws on product standards.

“Some manufacturers and traders are taking advantage of quarantine restrictions and [they are] taking shortcuts that ultimately will harm the enduser,” he said in a statement last week.

According to Pisi, samples from the test buys were sent to the Bureau of Philippine Standards. The agency then sent them to the Metals Industry Research and Development Center (MIRDC), of the Department of Science and Technology, for quality and safety evaluation.

Citing MIRDC’s findings, Pisi argued the lug height and mass variation of the samples failed to conform with what the government requires

to guarantee the integrity of a rebar.

Magsajo explained the sale of substandard steel not only puts consumers at risk, it also dupes them in terms of value for their money. For instance, low mass variation is like asking a buyer to pay for a 900 gram rebar for the price of 1 kilo, he explained.

Magsajo admitted the market for construction materials, including steel products, declined this year, as the quarantine slowed infrastructure activity from both public and private sectors.

Manufacturers then were left scrambling for whatever remains of the demand, which some are abusing by flooding the market with cheap yet substandard steel, the Pisi chief said.

He added most producers of these items are repeat violators.

In June the Pisi submitted to MIRDC rebar samples bought in Central Luzon stores and made by Valenzu-

ela-based Real Steel and Bulacan-based Philippine Koktai Metal Inc. AccordingtoMagsajo,theMIRDCruled the samples as lacking weight. As such, the steelbarsmayfailtosupportstructuresunderstress,breakingthestandardssetoutby the government, he pointed out.

Real Steel, Metrodragon and Philippine Koktai use induction furnace in making steel products, and for this reason the Pisi has been asking the government to penalize their operations.

Induction furnace is designed to manufacture cast products and not construction grade steel. It has no capacity to remove the impurities of scrap metal, particularly phosphorus and sulfur, both of which brittles the output steel and exposes it to crack injury.

In 2017 China banned the use of induction furnace for steelmaking, ruling the equipment harms the environment and produces substandard rebars.

DOLE: 280,000 OFWs received govt cash aid

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ROUND 280,000 overseas Filipino workers (OFWs), whose employment was affected by statemeasuresagainsttheCovid-19pandemic, received government cash aid.

In a statement, Labor Secretary Silvestre H. Bello III disclosed this was the latest number of benefi-

ciaries of the Department of Labor and Employment’s Abot Kamay ang Pagtulong, or Akap (hug in English) program as of October 2.

Bello said the DOLE already disbursed some P2.853 billion through the program.

Implemented by the 40 Philippine

Overseas Labor Offices (POLOs) and the Overseas Workers Welfare Administration, the program provides a one-time cash assistance of $200 or P10,000 to OFWs displaced after markets closed to stymie the spread of Covid-19.

Bello said more OFWs are ex-

pected to benefit from the initiative since they already approved 312,974 of the 637,873 applications. Initially, the program only had a funding of P1.5 billion. This was later increased to P3.5 billion because of the large number of OFWs who applied to secure the cash grant. Samuel P. Medenilla

Agriculture/Commodities BusinessMirror

A4 Monday, October 5, 2020 • Editor: Jennifer A. Ng

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Farm-gate price of palay drops to 5-week low

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE average farm-gate price of dry palay fell to a five-week low in the second week of September, as farmers have started harvesting their crop, data from the Philippine Statistics Authority (PSA) showed.

The average quotation of P17.12 per kilogram for unmilled rice during the period was 3 percent lower than the figure recorded in the previous week. However, the price was 5.81 percent higher than last year’s P16.18 per kg, based on PSA data.

PSA data showed that during the reference period only the regions of Cagayan Valley, Central Luzon, Calabarzon, Central Visayas, and Eastern Visayas posted an average dry palay quotation that is higher than P17 per kg.

Dry and clean palay was sold at P17 per kg or lower in other regions, PSA data indicated.

In North Cotabato, where farmers staged a protest last week over declining palay prices, traders reportedly bought dry and clean palay at an average of P13.40 per kg. This translates to about P12.51 per kg for wet palay, based on BusinessMirror’s computation using PSA’s formula. The figure is on a par with the breakeven cost of producing rice.

The nationwide average buying price of P17.12 per kg for dry palay

is equivalent to P16 per kg for fresh or wet palay, based on BusinessMirror’s computation.

ties to monitor and ensure that our interventions are in place and will benefit our farmers.”

The DA also called out the Federation of Free Farmers (FFF) for supposedly leading the “interest groups” in pushing for the review and amendment of the RTL law.

PRiSM data

CITING results of a price survey made by the Philippine Rice Information System (PRiSM), the Department of Agriculture (DA) said the price of freshly harvested palay in Cagayan Valley and Central Luzon averaged P14 per kg.

The PRiSM survey data also showed that the average farm-gate price of dry palay was at P18 per kg in Central Luzon and P19 per kg in Cagayan Valley. The survey was conducted from September 16 to September 30, according to DA. Central Luzon accounts for roughly 19 percent of the country’s total annual output while Cagayan Valley accounts for 12.5 percent, making them the country’s two top-producing regions.

“Grains traders and middlemen usually buy wet or freshly harvested palay, with high moisture content or MC, at 35 percent to 40 percent lower than dried grains at 14 percent MC, as they shoulder the costs of hauling, transportation, and drying,” it said.

Agriculture Secretary William D. Dar said the results of the survey debunk the “disinformation waged by interest groups” that the rice trade liberalization (RTL) law caused the decline in palay prices.

FFF rebuttal

A FARMER in Pangasinan displays threshed rice in this photo. The average farm-gate price of dry palay reached P17.12 per kilogram in the second week of September, according to government data. LAILA AUSTRIA

“The interest groups, along with former DA officials, have exaggerated data on palay to push for the amendment or repeal of the RTL. They are resurrecting old arguments

against RTL,” Dar said.

“As the [PRiSM data shows], the claim of interest groups on social media regarding the price of rice is far from reality.”

Dar added that the government has “more reliable data” which it uses to make decisions related to interventions for the Philippine rice industry. “We go to communi-

Gain report: La Niña threat to PHL raw sugar production

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HE country’s raw sugar production in the current market year (MY) 2020-2021 may increase by 2.3 percent to 2.2 million metric tons (MMT) but a La Niña could dent output, according to a Global Agricultural Information Network (Gain) report.

The Gain report, prepared by the US Department of AgricultureForeign Agricultural Service in Manila, projected that local sugar production would increase for two

consecutive MYs. However, the Philippine Atmospheric, Geophysical and Astronomical Services Administration’s (Pagasa) recent warning of a likely La Niña “could moderately lower the production outlook,” according to the report.

“Raw sugar production in MY 2020/21 could be affected by a likely La Niña weather pattern, as the local weather bureau Pagasa issued an alert for Visayas and Mindanao during the

last quarter of 2020. If realized, the likely impact would be a moderate decline in production,” it said.

The report said sugarcane area in the current MY is expected to stay flat at 401,000 hectares as planters continue to face labor shortages and remain cautious about the possible liberalization of the industry.

It added that total sugar consumption in the current MY could “recover slightly” to 2.3 MMT as the economy “opens up and more institutional us-

ers increase capacity” and demand for sugar-sweetened food and beverages improves.

The report noted that half of the country’s sugar demand comes from industrial users such as beverage and processed food manufacturers, hotels, bakeries and restaurants.

The Gain report said the Philippines is poised to fully fill its raw sugar quota to the United States set at 142,160 MT raw value (MTRV), or about 136,201 MT commercial

weight (MTCW) due to sufficient stocks, including carry-over volume.

“Due to high ending stocks of refined sugar, imports in MY 2020/21 are forecast slightly lower than previous years, provided MY 2019/20 raw sugar production targets are met,” it added.

The Gain report projected that sugar imports in the current MY would decline by 38.46 percent to 200,000 MT from previous MY’s 325,000 MT. Jasper Emmanuel Y. Arcalas

House ‘appro’ panel: Row won’t delay budget “Speaker Cayetano, you gave your word in front of the President to honor the term-sharing agreement.

Please, I appeal to you, finish the budget and resign on October 14,” Velasco said in his Facebook page.

“The question for Speaker Cayetano and his group: Is this a budget for the nation or a budget for your group? Is this really a significant budget amid the pandemic or a huge budget for your group?” he added.

According to Velasco, Cayetano camp’s attempt to extend the current leadership’s term until December on the pretext of budget deliberations only raises suspicions.

“Is this why Speaker Cayetano and his sidekicks are adamant in fiercely fighting the peaceful transition of House leadership?

Is this why Speaker Cayetano is trying to blackmail President Duterte and hold the budget hostage if his term is not extended?” he said.

Far from over

THE speakership row is still far from over as several supporters of Velasco are expected to be removed from their posts, but Oriental Mindoro Rep. Doy Leachon said the removal of Velasco’s allies will only exacerbate the dispute.

“They [Cayetano camp] themselves violated the [termsharing] agreement that no one will be removed from the committee chairmanships based on the differences of political affiliations. This is demoralization among the members of the House,” Leachon said.

“Above all, the crackdown made on legislators is outright disrespectful to the Malacañang, who facilitated the appointment of leadership in the House,” he added.

Last Friday, after his speech urging supporters of Velasco to resign, Capiz Rep. Fredenil Castro was elected as deputy speaker, replacing 1-Pacman Rep. Mikee Romero.

AAMBIS-OWA Party-list Rep. Sharon Garin said she may be next to be removed as chairman of the Committee on Economic Affairs.

Romero and Garin, both supporters of the Marinduque lawmaker, were included in the recent Palace meeting between Velasco and Cayetano.

Velasco’s other known supporters inlcude House Committee on Energy Vice Chairman and PBA Party-list Rep. Jericho Nograles, Deputy Speaker Aurelio Gonzales, Deputy Speaker Johnny Pimentel and House Committee on Agriculture and Food Chairman Mark Enverga.

Losing grip

THE current leadership is losing its grip over lawmakers for continuing to defy the termsharing agreement brokered by President Duterte, Buhay Rep. Lito Atienza claimed on Sunday.

Atienza, in an interview, said Speaker Cayetano had conducted a vicious loyalty check that led to the Romero’s removal as deputy

speaker last Friday.

“The President was clear in his statement that he wants the termsharing honored by both camps.

That was what the President said, so honor your word,” said Atienza told Cayetano.

“Alan [Cayetano] has lost a lot of support [following Romero’s removal as deputy speaker],” Atienza said.

Romero is current president of the Party-list Coalition, with 54 members.

Atienza said he was also quite sure the PDP-Laban “will be in support of Velasco.” The PDPLaban is the political party of President Duterte.

There are 65 PDP-Laban members in the chamber. “I am sure the political chieftains will not separate from the President,” Atienza said, partly in Filipino The Nationalist People’s Coalition, with 35 members in the House, is also backing Velasco as Speaker.

According to Atienza, majority of proadministration lawmakers

were dismayed by Cayetano’s continued refusal to honor the term sharing.

Aside from the Nacionalista Party where he belongs, Cayetano is supported by the 43-member National Unity Party (NUP).

However, Atienza said the NUP “may end up in the minority.”

Status quo

DEPUTY Speaker Luis Ray Villafuerte, however, asserted the House has already spoken on the Speakership’s term-sharing issue and that its fresh majority vote to keep Cayetano as Speaker indicates that most members want a status quo.

“Velasco himself and his supposed allies failed—and even refused—to participate in last night’s voting on the leadership issue is reflective of Velasco’s style of leadership—or utter lack of it—and a harbinger of the policy of drift and irrelevance that will most likely plague the House if and when he ends up Speaker,” Villafuerte said.

Vaccine fixation not the best response to pandemics–ADB Apart from these, Merten and Roth took note of how Covid-19 inspired bludgeon-like responses, considering that about 3 million people die from communicable diseases every year. Nearly half or 1.3 million of them died of tuberculosis in 2016.

They added that HIV/AIDS killed 1 million people in 2016 and the

death rate from diarrheal diseases in the same year was 1.4 million.

Merten and Roth said the world fights another “pandemic” of noncommunicable diseases which kill 41 million people each year, equivalent to 71 percent of all deaths globally.

Many of these deaths, Merten and Roth said, are recorded in lowand middle-income countries like

the Philippines.

“We have known for a long time that we need to do more than providing the world with vaccines —as important as immunization undoubtedly is. The world needs, as also mentioned in WHO’s World in Disorder Report, integrated and complex public/global health solutions to be prepared for the next pandemic and all current ones. It

needs investments in determinants of health, health systems, education, and good governance,” the authors said.

Data from the P hilip pine Statistics Authority (PSA) showed that registered deaths between January to August exceeded their corresponding monthly averages in the last five years, except for March and April.

continued from a1

continued from a8

PSA said the relatively fewer re g istered deaths in Aug ust 2020 were expected since not all deaths were registered yet as per reglementary period.

The preliminar y number of registered deaths from January to August 2020 reached 371,880, lower than the total registered deaths of 408,788 in the same period in 2019.

THE FFF on Sunday refuted the claims of DA and Dar that the prevailing farm-gate prices in major rice-producing areas are on a par with the National Food Authority’s support price of P19 per kg.

Citing reports from farmers and traders, FFF said the prevailing prices for dry and clean palay range from P15 per kg to P17 per kg while wet or freshly harvested palay fetches anywhere from P11 to P14 per kg.

FFF also said farmers are forced to sell fresh palay as they lack facilities for drying, cleaning, storage and trucks to transport their crop.

“It is a pity that Secretary Dar, whose primary concern should be to heed his farmer constituents and help them cope with low prices, is now calling them liars and peddlers of fake news,” the group said.

“He is also doing a disservice to President Duterte and the Filipino people by painting a rosy picture of a socially explosive situation affecting millions of desperate rice farmers amid the pandemic,” the group added.

Group hits plan to import tilapia to fill supply gap

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MALL fishers belonging to the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) criticized the plan of the Bureau of Fisheries and Aquatic Resources (BFAR) to import tilapia.

Pamalakaya said the government should instead make fishing areas accessible so that Filipino fishermen can catch more and boost the country’s supply of fish.

The group also urged the government to strengthen local food producersandendrelianceonimportstoboost the country’s fish self-sufficiency.

“There are plenty of fish in the Philippine seas, why not make them more accessible and affordable to poor consumers instead of importing deficient varieties?” Pamalakaya National Chairman Fernando Hicap said in a statement.

Hicap was referring to the proposal to import at least 400,000 metric tons (MT) of staple fish products such as galunggong (round scad) and tilapia (St. Peter’s fish), purportedly to address the projected shortfall in supply.

Citing the food supply outlook of the Department of Agriculture, Pamalakaya said the Philippines will have a deficit of 42 days’ worth of fish supply by year-end. For round scad, for instance, the country’s supply is estimated at 53,925 MT, while the demand is at 105,690 MT. “When will the DA ever learn that resorting to importation every time there is a fish shortage will never address this yearly cycle of a fisheries crisis?” asked Hicap, a former Anakpawis representative.

“While we recognize that there may be an actual shortage in fisheries production brought about by the pandemic, the common sense solution is to fortify government intervention and adequately support the local production. Opening our floodgates for imports would do more harm than good, especially to the small fishers who will be left at a disadvantage,” he added.

The group has been opposing the purchase of fish from abroad as it puts “the local fishers at a disadvantage.”

Imported fishery and marine products, the group said, “out-competes and further pulls down farmgate prices of fresh and locally caught fish.” Jonathan L. Mayuga

The World BusinessMirror

Editor: Angel R. Calso

Trump’s diagnosis shows US vulnerability to Covid-19

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T. CHARLES, Mo.—President Donald Trump’s startling Covid-19 diagnosis serves as a cruel reminder of the pervasive spread of the coronavirus and shows how tenuous of a grip the nation has on the crisis, health experts said.

With US infections rising for several weeks, Trump became one of the tens of thousands of Americans who test positive each day. He went through a “very concerning” period Friday and the next 48 hours “will be critical” in his care, White House chief of staff Mark Meadows said on Saturday.

That differed dramatically from the rosy assessment by Trump's staff and doctors, who took pains not to reveal the president had received supplemental oxygen at the White House before he went to a military hospital.

Some of Trump's top advisers and allies also have tested positive recently.

“No one is entirely out of the virus’s reach, even those supposedly inside a protective bubble,” said Josh Michaud, associate director of global health policy with the Kaiser Family Foundation in Washington.

Eight months after the virus reached the United States, worrying signals mounted of what’s ahead this fall. The NFL has postponed two games after players on three teams tested positive. Some hospitals in Wisconsin have run low on space, and experts warned of a likely surge in infections during the colder months ahead. Some economists say it could take as long as late 2023 for the job market to fully recover.

The US leads the world in numbers of confirmed infections, with more than 7 million, and deaths, with more than 208,000. Only a handful of countries rank higher in Covid-19 deaths per capita.

“The statistics are so mindboggling, they make us numb to the reality of just how painful, unacceptable and absurd this is," said Dr. Reed Tuckson, board chairman of the nonpartisan Health Policy Alliance in Washington.

"Every single American must double down on their vigilance. If we don’t, then we are being foolhardy and irresponsible.”

Wallace Clark, 50, of Springfield, Illinois, said he was flummoxed by the president's diagnosis but hopes it makes people realize they need to take the pandemic seriously.

"Some people probably think they're immune or can't get it, but it is possible. It does send a message," Clark said on Saturday.

The president's infection occurred as the nation has reached a crossroads in its response to the virus.

The US is averaging 40,000 cases a day.

The situation is improving in Sun Belt states that were hot spots in the summer, and many loosened restrictions this week.

Mississippi’s governor ended a mask requirement, South Carolina's governor said he would ease capacity restrictions on restaurants and New Orleans bars got the greenlight to sell carry-out drinks. Florida has moved ahead with an aggressive reopening that gives bars and restaurants latitude to allow as many customers as they choose.

The outlook is gloomier in the Midwest.

Wisconsin reported a record daily death toll Wednesday, and hospitals in multiple

cities said they were running out of space. A 530-bed field hospital that the US Army Corps of Engineers built on the state fairgrounds in the city of West Allis in April could be used if the situation worsens.

Iowa reported more than 1,000 new cases for the third consecutive day Friday as the virus continued to aggressively spread, but the governor said bars in the two largest college towns could reopen Monday after a five-week closure. South Dakota officials reported record highs in deaths and cases on Thursday.

In Missouri, several people waving Trump signs and American flags at drivers in the St. Louis suburb of St. Charles on Saturday said the president and Republican Gov. Mike Parson getting infected recently won't change their behavior. Of the roughly two-dozen Trump supporters who gathered, most didn't wear masks.

Vince Kuhn, a 72-year-old retiree and Vietnam War veteran, called Trump "a brave man" who likely caught the virus because he was willing to be out with people. Kuhn said he opposed restrictions like mask mandates before the president got sick and still does.

“I fought for freedom in ‘Nam,” Kuhn said. “I really didn't like it when they stopped us from going to church and assembling. But people are coming back. Everything's coming back.

People want the real America we fought for.”

Carol Schutz, 54, who had a lung transplant last year and often wears a mask but didn't Saturday, doesn't believe Trump’s illness will sway many people but will be “more fuel for the fire” for those who don't like him.

The mood was far different in St. Louis.

Arlene Mathis, 65, was one of several Black volunteers at voter registration event where nearly everyone wore masks.

“I don't know that we would have to have the president affected by this to be awakened by it, because so many people have died and continue to die every day,” Mathis said.

She was hopeful, however, that Trump’s illness would change behavior.

“It’s an indication that nobody is immune,” Mathis said. "It goes high, it goes low, it goes everywhere. So hopefully, them being affected by it will have an impact.”

Dr. William Schaffner, an infectious diseases expert at Vanderbilt University, said Trump’s diagnosis “reinforces the notion we need a national policy and we need everyone to participate in the basic preventions.”

Instead, Schaffner said, the response “has been subcontracted to the governors, which has left us with a crazy quilt of approaches.”

For months, Trump has downplayed the virus, rarely wearing a mask, holding large campaign rallies and urging businesses and schools to reopen. Masks have not been mandatory for White House staff, despite evidence they help stop the spread.

“Now, tragically, this experiment has shown, at the highest office of the country, it ain't working. It didn't work,” Schaffner said.

It has George George, 63, worried.

“I’m nervous this process could last another couple of years,” George said outside a coffee shop in the Cleveland suburb of Cleveland Heights. “People in March and April were terrified of the unknown. But now restaurants are filling up. People are tired of being isolated.” AP

Monday, October 5, 2020

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Trump said to be improving but next 48 hours ‘critical’

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ETHESDA, Md.—President Donald Trump went through a “very concerning” period on Friday and faces a “critical” next two days in his fight against Covid-19 at a military hospital, his chief of staff said Saturday—in contrast to a rosier assessment moments earlier by Trump doctors, who took pains not to reveal the president had received supplemental oxygen at the White House before his hospital admission.

Trump offered his own assessment on Saturday evening in a video from Walter Reed National Military Medical Center, saying he was beginning to feel better and hoped to "be back soon."

Hours earlier, chief of staff Mark Meadows told reporters outside the hospital, "We're still not on a clear path yet to a full recovery." In an update on the president Saturday night, his chief doctor expressed cautious optimism but added that the president was “not yet out of the woods.”

The changing, and at times contradictory, accounts created a credibility crisis for the White House at a crucial moment, with the president’s health and the nation’s leadership on the line. With Trump expected to remain hospitalized several more days and the presidential election looming, his condition is being anxiously watched

by Americans.

Moreover, the president’s health represents a national security issue of paramount importance not only to the functions of the US government but also to countries around the world, friendly and otherwise.

Saturday’s briefing by Navy Commander Dr. Sean Conley and other doctors raised more questions than it answered. Conley repeatedly refused to say whether the president ever needed supplemental oxygen, despite repeated questioning, and declined to share key details including how high a fever Trump had been running before it came back down to a normal range.

Conley also revealed that Trump had begun exhibiting “clinical indications” of Covid-19 on Thursday afternoon, earlier than previously known.

Conley spent much of the briefing dodging reporters' questions, as he was pressed for details.

“Thursday no oxygen. None at this moment. And yesterday with the team, while we were all here, he was not on oxygen,” Conley said.

But according to a person familiar

with Trump’s condition, Trump was administered oxygen at the White House on Friday morning, well before he was transported to the military hospital by helicopter that evening. The person was not authorized to speak publicly and spoke to The Associated Press only on condition of anonymity.

Conley said that Trump’s symptoms, including a mild cough, nasal congestion and fatigue “are now resolving and improving,” and said the president had been fever-free for 24 hours. But Trump also is taking aspirin, which lowers body temperature and could mask or mitigate that symptom.

“He’s in exceptionally good spirits,” said another doctor, Sean Dooley, who said Trump’s heart, kidney, and liver functions were normal and that he was not having trouble breathing or walking around.

In an evening health update, Conley said Trump had been up and moving around his medical suite without difficulty and conducting business. “While not yet out of the woods, the team remains cautiously optimistic,” he said.

In the hospital video, Trump defended his decision to continue campaigning and holding large events in the midst of a pandemic.

“I had no choice,” said Trump, who refused to abide by basic public health recommendations, including maskwearing. “I had to be out front...I can't be locked up in a room upstairs and totally safe....As a leader, you have to confront problems."

Trump also thanked his medical team and hailed the state-of-the-art treatments he was receiving, comparing them to “miracles coming down from God.” Trump's medical care is far superior to the average American’s, with around-the-clock attention and experimental treatments.

The president was angry at Meadows’ public assessment of his health and, in an effort to prove his vitality, Trump ordered up the video and autho-

rized longtime confidant Rudy Giuliani to release a statement on his behalf that he was feeling well, according to a Republican close to the White House not authorized to publicly discuss private conversations.

Trump is 74 years old and clinically obese, putting him at higher risk of serious complications from a virus that has infected more than 7 million people nationwide and killed more than 200,000 people in the US. First lady Melania Trump remained at the White House to recover from her own bout with the virus. She was “really handling it very nicely,” Trump said in the video, noting with a touch of humor that she was “just a little tiny bit younger”—in fact, 24 years younger.

Meadows himself had insisted Friday morning that Trump had only “mild symptoms” as the White House tried to project an image of normalcy. It was unclear whether Trump already had received oxygen when Meadows spoke.

"President Trump remains in good spirits, has mild symptoms and has been working throughout the day," press secretary Kayleigh McEnany said late in the day on Friday. She said Trump had only been sent to Walter Reed as a precaution.

Trump’s administration has been less than transparent with the public throughout the pandemic, both about the president's health and the virus’ spread inside the White House. The first word that a close aide to Trump had been infected came from the media, not the White House. And aides have repeatedly declined to share basic health information, including a full accounting of the president's symptoms, what tests he's undertaken and the results.

In a memo released late Friday, Conley did report that Trump had been treated at the hospital with remdesivir, an antiviral medication, after sharing that he'd been taking another experimental drug at the White House.

Conley declined to say when Trump had last been tested before he was confirmed to have Covid-19 late Thursday.

He initially suggested that Trump was 72 hours into the diagnosis—which would mean that he was confirmed infected on Wednesday. Conley later clarified that Trump was administered an accurate test for the virus on Thursday afternoon, after White House aide Hope Hicks was confirmed to be positive and Trump exhibited “clinical indications” of the virus.

The White House has said Trump was expected to stay at the hospital for “a few days” and would continue to work from its presidential suite, which is equipped to allow him to keep up his official duties. In addition to accessibility to tests and equipment, the decision to move to the hospital on Friday was

made, at least in part, with the understanding that hurrying there later could send a worrying signal if he took a turn for the worse.

On Saturday, Conley said Trump’s blood oxygen level was 96 percent, which is in the normal range. The two experimental drugs he has received, given through an IV, have shown some promise against Covid-19. On Friday, he was given a single dose of a drug Regeneron Pharmaceuticals Inc. is testing to supply antibodies to help his immune system fight the virus.

Friday night, he began a five-day course of remdesivir, a Gilead Sciences drug currently used for moderately and severely ill patients. The drugs work in different ways—the antibodies help the immune system rid the body of virus and remdesivir curbs the virus' ability to multiply.

“We’re maximizing all aspects of his care,” attacking the virus in multiple ways, Conley said. “I didn’t want to hold anything back if there was any possibility it would add value to his care.”

He noted that in many cases, Covid-19 can become more dangerous as the body responds. “The first week of Covid, and in particular day seven to 10, are the most critical in determining the likely course of this illness,” he said.

At the same time, the White House has been working to trace a flurry of new infections of close Trump aides and allies. Attention is focused in particular on the September 26 White House event introducing Trump's Supreme Court nominee. That day, Trump gathered more than 150 people in the Rose Garden, where they mingled, hugged and shook hands— overwhelmingly without masks. There were also several indoor receptions, where Trump’s Supreme Court pick, Judge Amy Coney Barrett, her family, senators and others spent time in the close quarters of the White House, photographs show.

Among those who attended and have now tested positive: former New Jersey Gov. Chris Christie, White House counselor Kellyanne Conway, the president of the University of Notre Dame, and at least two Republican lawmakers—Utah Sen. Mike Lee and North Carolina Sen. Thom Tillis. The president's campaign manager, Bill Stepien, and the head of the Republican National Committee, Ronna McDaniel, have also tested positive, though they were not at the event. Another prominent Republican who has tested positive: Sen. Ron Johnson. R-Wis. One of the president’s personal assistants, Nick Luna, tested positive after having traveled with Trump several times recently, a White House official said Saturday night. The official wasn't authorized to discuss the matter by name and requested anonymity. AP

Johnson, E.U. set sights on deal as Brexit talks enter final phase Pope goes to Assisi to sign text in first post-lockdown outing

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he UK and the European Union agreed to step up their negotiations over a postBrexit trade accord following a crunch call between Boris Johnson and the bloc’s leadership in which both renewed their commitment to getting a deal.

With less than two weeks before the prime minister’s deadline to secure an accord, the talks will now move into an intensive final stage. But both sides acknowledge there are still significant divides to bridge in the time remaining.

The two leaders “instructed their chief negotiators to work intensively in order to try to bridge” the gaps between the two sides, they said in a joint statement. “They agreed on the importance of finding an agreement, if at all possible.”

Johnson’s video call with European Commission President Ursula von der Leyen on Saturday is a sign that both sides are still intent on reaching an accord after seven months of negotiations ended in deadlock on Friday. Without a deal, Britain will crash out of the single market at year-end, leaving businesses and consumers facing disruption and additional costs.

Officials are clear that a lot of work lies ahead, with the biggest sticking points remaining the same as they did when talks started seven months ago: what restrictions on government subsidies to businesses the

UK will sign up to, and what access EU fishing boats will have to British waters.

‘Serious divergences’

One EU official familiar with the conversation said the tough political choices that will have to be taken on those two subjects in particular have yet to be made, and the discussions could stretch on beyond Johnson’s mid-October deadline. According to one UK official, Johnson told von der Leyen he wants to know by then whether a deal is possible.

The EU’s chief negotiator, Michel Barnier, spoke of “persistent serious divergences on matters of major importance” in a statement on Friday. His UK counterpart David Frost said that the disagreement over fish “risks being impossible to bridge.”

Johnson and von der Leyen’s conversation gives the green light for the two negotiators to try and nail down an agreement. Talks are set to resume in London next week, followed

by Brussels the week after.

The last two days of that two-week period coincides with a major summit of EU leaders, also in Brussels, at which Brexit is due to be on the agenda. If a deal isn’t done by then, officials don’t rule out dramatic make-or-break interventions by French President Emmanuel Macron and German Chancellor Angela Merkel.

Bloomberg News

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SSISI, Italy—Pope Francis travelled to the tomb of his nature-loving namesake and signed an encyclical on Saturday laying out his vision of a post-Covid world built on solidarity, fraternity and care for the environment.

In his first outing from Rome since late February, Francis celebrated Mass in the crypt of the Basilica of St. Francis in the Umbrian hilltop town of Assisi. After the service, Francis invited the translators of various editions of the encyclical up to the altar and signed the texts.

The document, “Fratelli Tutti” (“Brothers All”), is to be released to the public on Sunday, which is the feast day of St. Francis of Assisi. It is in many ways expected to be a synthesis of the main priorities of Francis‘ pontificate, such as greater solidarity with the poor, dialogue with others and care for God's creation.

For Francis, the coronavirus pandemic has only confirmed his beliefs on the interconnectedness of the health of the planet and the people who live on it. For weeks, he has preached of the need to use the pandemic as an opportunity to reform global economic, political and social structures to ensure that the world's most marginalized people aren't left even farther behind after the coronavirus passes.

Pope Francis celebrates Mass in the crypt of the Basilica of St. Francis, in Assisi, Italy on Saturday, October 3, 2020. Pope Francis travelled to the homeland of his nature-loving namesake on Saturday to sign an encyclical laying out his vision of a post-Covid world built on solidarity, fraternity and care for the environment. In his first outing from Rome since the coronavirus lockdown, Francis celebrated Mass on Saturday in the crypt of the Basilica of St. Francis in the Umbrian hilltop town of Assisi. Vatican Media via AP

“Our world needs to be healed not only of the present virus, but also of the “social ills” of inequality, injustice and exclusion that afflict so many of our brothers and sisters in the human family,” the pope said during his Wednesday

general audience this week.

Like the rest of Italy, the Vatican locked down for nearly three months during the worst of the country's outbreak, forcing the pope to cancel audiences and travel. His trip to Assisi

marked his first outing since he travelled to Bari on February 23 before the lockdown started.

Vatican encyclicals are the most authoritative form of papal teaching and they traditionally take their titles from the first two words of the document. In this case, “Fratelli Tutti” is a quote from the “Admonitions,” the compendium of 28 guidelines penned by St. Francis in the 13th century.

The title has sparked controversy in the English-speaking world, with critics noting that a straight translation of the word "fratelli" (brothers) excludes women. The Vatican has insisted that the plural form of the word "fratelli" is gender-inclusive and that the document by its very nature is inclusive of women.

Francis' decision to sign the document in Assisi and release it on the saint's feast day is yet further evidence of the outsized influence St. Francis has had on the papacy of the Jesuit pope, the first to name himself after the mendicant friar.

St. Francis renounced a wealthy, dissolute lifestyle to embrace a life of poverty and service to the poor. He was considered a radical disobedient during his lifetime, but in the centuries since his death his legacy has become that of a simple, nature and peace-loving man of faith. AP

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Monday, October 5, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The Philippine property sector

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roperty development has been an important sector of the economy and anchor of economic growth for at least a decade or more. The primary driver of this growth is the vast housing backlog.

There are portions of every major city in the Philippines that were built in the wake of the destruction from World War 2. You might see a modern apartment building or even a condominium surrounded by houses that could not pass basic safety and sanitation inspection if built today.

The property sector is a critical and crucial part, and an important indicator, of a nation’s healthy economic growth on many levels. Upward economic mobility and an increasing middle class are illustrated by people being able to afford better housing. People rising from the lower economic groups almost immediately buy better housing as soon as it is financially feasible.

Growth in the property sector and better affordable housing also move people from the urban areas to the “suburbs” because of lower construction costs. This helps reduce big city congestion and forces national and local governments to provide better infrastructure to service these new growth areas.

We can see the growth with our own eyes. The Pacific Star Building, completed in 1989, reigned supreme with 29 stories. The Petron Megaplaza, located a block away from the Pacific Star, took the title of tallest building in 1998. Now, the Grand Hyatt Manila in Taguig City towers over the nation at 66 stories.

However, the Covid-19 pandemic has had a dramatic and substantial impact on the global property business. Companies that have instituted long-term plans for work-from-home models are having a great effect on office rentals and prices. From the Wall Street Journal: “Manhattan Offices Are Nearly Empty, Threatening New York City’s Recovery. About 1 in 10 office workers have returned since Covid-19 hit, far fewer than elsewhere, hurting local businesses.”

If you do not have to report to work in the city, you may move out of town to better and cheaper housing. According to real-estate analytics company Zumper, the exodus out of San Francisco has been so great that the median rent for a one-bedroom apartment collapsed more than 20 percent in September from a year ago.

The conventional wisdom is that the Philippines is going to experience the same property sector problems. “Suffering continues for property sector: An international property consulting firm is advising property owners and developers to convert and repurpose their assets to survive.” And “PHL property sector takes hit from Covid-19 pandemic.”

Some suggestions for repurposing make sense, like converting vacant mall spaces into micro-warehouses.

“Pogo exodus seen emptying more than a tenth of Metro Manila offices, condo units.” April 9, 2020: “The Philippines’ real-estate sector expects to see a sharp decline in sales in the short to medium term.”

But conventional wisdom is often—very often—wrong. Now the headlines read: “Houses and lots join condos to trigger record surge in property costs.”

Developers we talk to say buying activities of overseas Filipinos have surged. Domestic buyers are paying for reservations until banks decide to start processing loan applications. Construction would be going full speed if Covid restrictions would not keep their employees from working.

This headline probably sums up best the situation in the property sector: “Strong investor confidence in resilient property sector.”

Since 2005

Best practices for online education Atty. Jose Ferdinand M. Rojas II

RISING SUN

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lasses in Philippine public schools resume today but according to reports, there are millions of Filipino students who are not enrolled for this school year. Some are being limited economically as their parents lost income due to the pandemic.

Gadgets and an Internet connection are not affordable for many families, and some students are being limited by the lack of access to the Internet.

For those who have managed to enroll, the challenges are real for both parents and students. Parents need to juggle work and chores with the responsibility of supporting their children’s learning, especially if the kids are young. Other parents, especially those who did not get adequate school education and those who are not familiar with technology, are simply ill equipped to teach their own children. On the part of the children, a spotty connection is just one of the

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is lost—from schools and parents to students and teachers, even the Education department. It is the same with many other countries. The lack of stable Internet connection and gadgets like tablets and laptops are areas or issues that we all need to look into, first and foremost. Add to that the need for training and new teaching and learning systems for the schools and educators.

Personal challenges that are harder to address would include home environments that are not conducive to learning, inadequate space,

and the loss of face-to-face interaction, which may be more difficult for students with learning disabilities.

For sure, included among the millions who were not able to enroll this year are the students with disabilities, whether physical (hearing impaired, visually challenged, etc.) or otherwise (special children, etc.).

As we prepare to enter this new education landscape, I believe it is important to coordinate the efforts and initiatives of different organizations and institutions to highlight the effective teaching practices and systems. We have something to learn from each other. If everyone will share the processes that work through personal experience, then the whole nation will benefit.

Our children have the right to education. And as organizations, institutions, parents, educators, and guardians of the youth, it is our duty to make sure that no student is left behind. However, the present situation—lack of access to gadgets and good Internet connectivity, etc.— puts millions of Filipino students at a disadvantage. They deserve much more than this.

Issues on terminals and cashless transactions

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main hurdles to learning.

According to the Department of Education, 59 percent of students nationwide will be using the printed module, 20 percent will use the online module, and another 20 percent will learn offline. Additionally, TV and radio will be used for supplemental teaching and learning support for students.

As the whole world is thrust into this extraordinary situation, it is easy to see that almost everyone

As the whole world is thrust into this extraordinary situation, it is easy to see that almost everyone is lost—from schools and parents to students and teachers, even the Education department. It is the same with many other countries. The lack of stable Internet connection and gadgets like tablets and laptops are areas or issues that we all need to look into, first and foremost.

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S Metro Manila is set to enter the “new normal,” with hopes of being placed soon under a modified general community quarantine status, two significant news involving bus transportation came out last week. One was the resumption of provincial bus transport operations to and from Metro Manila. The second pertains to the implementation of automated fare collection system for the Edsa Bus carousel. These two events highlight the government’s efforts to operate under the new normal with emphasis on providing Covid-safe transport while recognizing the need for convenience of our commuters. There are, however, some concerns regarding their implementation. And they need to be noted and acted upon, even if such policies have already been implemented.

Allowing provincial buses to operate to and from Metro Manila is definitely a relief to the commuting public as well as to the bus operators and their personnel, especially after half a year of suspension of their operations. However, one thing left hanging was specifying the terminals that these buses would use.

Bus operators would naturally opt for their present in-city terminals than using the integrated bus terminals located in the outskirts of the metropolis. They argue for commuter convenience, not to mention its costeffectiveness, as there would be no need for additional trips. Besides,

traffic levels in Metro Manila have supposedly gone down and banning provincial buses now should not be as relevant as before.

But one cannot take the pandemic lightly. Its highly infectious nature, not to mention the resulting deaths and illnesses, gives a deeper dimension to the importance of integrated terminals, insofar as Metro Manila is concerned. These integrated terminals act as soupedup triage that can better control the inflow and outflow of commuters on the outskirts of the metro, rather than having commuters crowd up in 60 or more independent terminals

There will always be road bumps to new policies that come out, especially in times of crisis such as this pandemic. These are just two examples. Adopted to provide safety and convenience to the riding public, the implementation might just run against their objectives if unchecked.

spread throughout the metropolis.

Safety activities such as disinfection, temperature checks and even on-site testing can be done in a more efficient manner. Another compelling reason is, surprisingly, traffic.

It is true that traffic has gone down by more than 50 percent since the lockdown, but the streets have become narrower for a variety of reasons. For one, the success story that is the Edsa Bus carousel has taken out one lane off Edsa. Bringing provincial buses either within the carousel lane or with the rest of the vehicles would negate the benefits of the scheme. Moreover, city roads have become more congested with the suspension of the number coding and truck ban schemes. Given these reasons, Metro Manila would be better off utilizing the central integrated terminals. Safety and convenience is then better achieved.

The other significant news item last week was the use of BEEP cards for the Edsa carousel commuters.

The card is a product of AF Payments

Inc., a private entity that currently has a contract with most of the rail lines in Metro Manila. Noble in its intention of having cashless transactions for convenience and safety reasons, its implementation on the EdsaCarousel created much controversy—and inconvenience after the proponents imposed a 60 percent increase in the cost of the cards. At this time when everyone is having difficulties, such a move is unconscionable. Which leads us to ask: What is the rationale for such an increase? What is their legal authority to do so? Were proper procedures followed? Shouldn’t such act that affects the public require public consultations? It’s good that the DOTr moved to immediately suspend its implementation to avoid adding a heavy load to our commuters.

There will always be road bumps to new policies that come out, especially in times of crisis such as this pandemic. These are just two examples. Adopted to provide safety and convenience to the riding public, the implementation might just run against its objectives if unchecked.

Correcting them, even after they have been implemented, is the best way forward.

Thomas “Tim” Orbos was formerly with the DOTr and the MMDA. He has completed his graduate studies at the McCourt School of Public Policy of Georgetown University and is an alumnus of the MIT Sloan School of Management. He can be reached via e-mail at thomas_orbos@sloan.mit.edu

Opinion BusinessMirror

www.businessmirror.com.ph

When water means wine WE initiative Joel L. Tan-Torres

Siegfred Bueno Mison, Esq.

THE PATRIOT

DEBIT CREDIT

love wines. My father and I prefer red wines, mostly the Cabernet Sauvignon variety, full-bodied, dark, with a less fruity aftertaste. But any wine, be it red, white, sparkling, or dry, medium, fortified, is basically fermented grape juice.

N October 2, 2020, I, as Dean of the University of the Philippines Virata School of Business (UP VSB), launched the WE initiative. “WE” is the acronym for “We Empathize.” This initiative is very much appropriate and needed in this time of disruption in the various communities brought about by the Covid-19 pandemic. In the VSB, the WE initiative pertains to the institution of enhanced welfare and service directed to our students. The stakeholders of our school will be focused on addressing the needs and concern of our students as they navigate the varied experiences resulting from the pandemic crisis. Students are now confronting the challenges and intricacies of remote learning, quarantine lockdown, health risks, disruptions of daily routine and lifestyle, financial and economic displacements all around (perhaps including the student’s family) and many others. Exercising empathy will go a long way in alleviating the difficulties of our students. We, the supporters and guardians of the young students, should deeply understand and share their feelings…the essence of empathy.

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Compared to water, wines are simply distinct “creations.” As a thirst quencher, water can be as refreshing as wine depending on the circumstances.

But wine and water, or even ice, cannot and should never be mixed together.

Mixing water and wine dilutes the wine’s quality and drastically changes its chemical structure. To enjoy wine or water, one should take them in, separately, the way it should be.

As in every word, spoken or written, or in one’s behavior or sentiment, one should not be incoherent or inconsistent. Best to say or believe in something and do it because you truly mean it. Otherwise, you run the risk of being shamelessly inconsistent because your actions are not aligned with your spoken words. When one advocates a different view but does another, simultaneously, then, just like combining wine and water, the “structure” of a person changes. Hence, the idiomatic expression “you preach wine yet you drink water” was generated.

Recently, President Duterte offered to resign, purportedly on the ground of exasperation over the incessant corruption in government. But recounting the many times President Duterte swore to step down from office, not one pledge came to fruition. When he ran for the presidency, his rallying call was a war on drugs, and he swore to quit the position should he fail to end the drug problem within his first three to six months in office. Entering the fourth year of his presidency, the drug menace still proliferates in the country. I remember sometime in 2018, he likewise promised to resign if he fails to pass the Basic Bangsamoro Law (BBL law) in that same year. The same vow was asserted publicly last year if his son, Congressman Paolo Duterte, would vie for the House Speakership.

Perhaps owing to the perennial offer to resign by the President, a longserving senator even quipped that the President should just resign “if he really wants to resign.”

Taking the issue a notch higher, like putting grape spirit to amp a wine’s alcohol content, the President—in a plethora of occasions—has given the impression of contradiction and unpredictability. He vowed to remove any public official on just a “whiff of corruption,” but notwithstanding the Senate committee recommendation to file malversation and graft charges against Health Secretary Francisco Duque III, President Duterte openly sustained the much-beleaguered Health secretary. I suppose the Senate report did not generate that much “whiff” as Secretary Duque still has the “trust and confidence” of the President.

In the area of violation of quarantine laws, a Presidential diktat was issued that those caught defying the rules will accordingly be punished. Yet then PNP NCR Chief General Debold Sinas got away with no charges when he and his well-wishers were clearly not wearing facemasks and at a time

when social gathering was strictly prohibited. The President, in the same national address, threatened violators of quarantine laws who are not police officers—“…when you begin to mess up with the law, talagang ginagarantiya ko sa inyo na makukulong talaga kayo.” Two contradictory resolutions: a unique one for Gen. Sinas (the familiar?), and a different penalty for “others” (the not so familiar?).

Incoherence is a menace even for ordinary citizens. It becomes more pronounced when a public official like the President becomes incoherent as most of his constituents are presumed to rely on his word as gospel truth.

Same thing goes with House Speaker Alan Peter Cayetano when he agreed to a term sharing agreement with Congressman Lord Allan Velasco. But like Duterte and Cayetano, all of us ought to uphold a promise. In wine lingo, we need to “preach AND drink” the same beverage of advocacy. It would have been better for us not to make the promise in the first place, than to break it. For when one’s word is broken badly, it can be destructive. We draw a parallel to a written word that is badly written in the epic poem “Patterson” by writer William Carlos Williams, when he eloquently inscribed: “…for all that is put down, once it escapes, may rot its way into a thousand minds….” In that event of incongruity, the bearer of the message, or a vow, a promise, loses his quality and alters his structure. He can no longer be credible, much less worthy of trust. Like mixing wine with water, the blended mixture does not offer the same level of quality as the wine on its own would.

What better way to be reminded about keeping one’s word than to take heed of what Proverbs 20:25 in the Bible dictates: “It is a trap to dedicate something rashly and only later to consider one’s vows.” Decidedly, our values and principles should not vary by season or alliance. And there is only one person we should please—our Almighty God. If we are to grow in grace, mature in the faith and live a life that is honoring to our Creator, then we must strive to be very consistent in thought, word and deed. Either we are water, or we are wine; nothing in between; nothing as a combination of both.

Unless we resolve to turn water into wine, we can never quench the thirst within us no matter how much we receive by being a wicked combination of both.

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

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

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In our WE initiative, the College shall focus on student centeredness activities and programs. Even if the UP and VSB students are now studying from home, the VSB faculty, the library and administrative staff shall ensure that the needs and the concern of the students are given priority and top-notch attention.

Focal persons have been appointed to be in charge of various student service activities and programs.

They have been tasked to revise, if not transform, the way the school renders service to the students. I reminded the VSB staff to be proactive and ready to serve the students even during their work from home situation.

The WE initiative focuses on key services offered by the school.

These include the student Helpdesk and Citizens Charter, an online library services, and the VSB Links electronic daily news compilation.

The Listening Post online feedback with quick response system provides data and information for decision-making and proactive response from the college. We are coordinating with the University to provide student financial assistance services, that include scholarships, grants, loans, and student assistantships. The school and UP shall provide mental health and psycho social consulting services for the students who are experi-

Monday, October 5, 2020

encing stress and anxiety related difficulties. Special attention is given towards remote learning and information technology support services. The college has partnered with corporate and individual donors who have and will provide support for remote learning, including Internet access devices, gadgets, data and mobile phone loads.

A recently concluded survey of our undergraduate students disclosed that a high 77 percent still wants to engage in extra-curricular activities even at this time of pandemic. To address this desire, we are discussing with the officers of the 17 college based organizations and University officials on how to come up with appropriate activities, including the international engagements with our partner foreign schools, extra-curricular activities, fund-raising events, new members recruitment, academic competitions, internship, the school’s sustainable nurture the environment advocacy and other interactions. We are also preparing for our (virtual) alumni homecoming scheduled this December.

While our students, faculty and staff are on study and work from home modes and not physically in the college, we are taking this opportunity to fast track the infrastructure and facilities improvement program of the college. A lot of construction and renovation activities are ongoing and forthcoming in our buildings, that include refurbishment of the electrical and plumbing and water systems, the upgrading of our library and classrooms, the improvement of our MBA facilities and physical assets in the Bonifacio Global City (BGC) school, and many others.

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overnments have responded to the Covid-19 pandemic and the social and economic disruption it has wrought with a range of adhoc schemes, including paid furloughs, cash transfers and family support. While commendable, these responses share two major limitations.

First, many are temporary, shortterm fixes, covering lockdowns or a notional period until economic recovery kicks in. They do nothing to change the underlying circumstances that left many millions of people vulnerable, or to put them in better standing to face future crises.

Secondly, the measures simply do not address the existential threats that face many of the world’s worst hit communi-

ties. Although worldwide government spending on the Covid-19 response is more than $11 trillion, by far the largest responses have come from rich countries. For example, the European Union recently adopted a 750 billion euro recovery plan (equivalent to 6 percent of its GDP) while Japan’s economic recovery plan equates to 22 percent of its GDP (or $1.1 trillion). But among low-income developing countries the fiscal response has averaged 1.2 percent of GDP. Developing countries, particularly low-income countries, have limited domestic resources, made worse by falls in some export commodity prices. They are simply unable to put in place the comprehensive crisis response measures their people need, let alone the longer-term social protection systems that would create more fundamental resilience.

Even before Covid-19, 69 percent of the global population was either not

We are taking this “pandemic break” to update our student and alumni records. The college has been in existence for over 100 years. We have an ambitious project of updating the records of our tens of thousands of alumni who have grown in number over the century that the college has been in operation.

The upgrade of our school management and learning systems are also being looked into to bring in more technology and digital tools and applications. We are enhancing our communication network and reach, to include upgrading of the web site, publication of our newsletter called VSB Vantage Point, and the use of more social network applications in communicating with our stakeholders. Our “What’s next” webinar series continues to provide online events on various topics and interests that cater to both our internal and external stakeholders.

We continue to review our academic and learning offerings and programs, including the executive development program in BGC. With the WE initiative, our students and stakeholders will definitely feel our empathy and care that will matter much during these disruptive times.

Joel L. Tan-Torres is the Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy and partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979.

This column accepts contributions from the business community. Articles not exceeding 600 words can be e-mailed to boa.secretariat. @gmail.com.

Open letter to Sen. Lito Lapid on Senate Bill 1822 seeking to rename Del Monte Ave. to FPJ Ave. MAIL

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ear Hon. Senator Lito Lapid: May the Lord give you peace!

With due respect, we humbly present our objection to the Bill presented by your honor proposing to change the name of Del Monte Avenue to FPJ Avenue. We believe that the name of Del Monte Avenue must be preserved due to the tremendous historical, religious and cultural significance attached to this name.

There is a great historical value to the name Del Monte Avenue since it refers to the very origins of Quezon City. This name is derived from its full name SAN FRANCISCO DEL MONTE, a secluded place founded on February 17, 1590 by Fray Pedro Bautista, a Franciscan missionary.

The place has been referred to as San Francisco del Monte to honor St.

Francis. Del Monte was added to its name because it sits on a hilly area and to distinguish it from San Francisco de Manila, then the Franciscan Church in Intramuros.

It was Governor General De Vera who offered Fray Pedro Bautista (canonized a Saint in 1862) 250 hectares of this area that includes the old section of San Francisco del Monte on both sides of the Dario River. Today, the Minor Basilica of San Pedro Bautista stands in this place founded and made holy by this patron saint that actually lived and served in this place popularly known as San Francisco Del Monte.

The profound religious significance lies in the fact that the first Christian community in this area (from which Quezon City emerged in 1939) was established in San Francisco del Monte. Almost five centuries ago, Fray Pedro Bautista built in this area a home where the missionaries could find solitude and recharge their physical and spiritual vigor spent in bringing the Good News of Jesus Christ to the natives of the area. Consequently, the first Church in Quezon City was built here in San Francisco del Monte.

Therefore, this area—and their

historical names—are sacred to the civic and religious history of Quezon City because saints such as San Pedro Bautista and the early Franciscan missionaries stayed, prayed, reflected and served in San Francisco del Monte.

San Pedro Bautista’s valuable achievements spanning for five centuries were not only religious and historical but also cultural in the line of music, public health, and architecture. He instructed the friars to study our language.

He initiated the singing of liturgical music in Filipino, established choirs of Filipinos, and produced native musical instruments. He discovered the medicinal values of native plants and hot springs in Los Baños. He built the first stone churches outside Manila. He defended the natives from the abuses of our Spanish colonizers. Truly, he accomplished these and so much more for our people.

There is no doubt that FPJ has done great things to the movie industry. He can be honored via a street renamed after him, but please choose another street, like West Avenue or any other street that is not named after anybody, without any historical or religious significance,

Universal social protection floors, our joint responsibility

By Michelle Bachelet, Olivier De Schutter & Guy Ryder

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covered, or only partially covered, by social security. Almost two-thirds of the world’s children had no social protection coverage, only 22 percent of unemployed persons received unemployment cash benefits, and just 28 percent of persons with severe disabilities received disability cash benefits.

Global crises like this pandemic observe no geographical or political borders. Against them we are only as strong as the weakest among us. If we are to build greater resilience and a more effective ability to recover, we need to support all countries in creating robust social protection floors. The current piecemeal approach is like starting to recruit firefighters after a blaze has broken out, and then directing them to save only a few rooms in the burning building.

Clearly, this doesn’t work. In these circumstances, international solidarity is essential, and in everyone’s interest.

Social protection floors for all are affordable. The financing gap for all developing countries—the difference between what these countries already invest in social protection and what a full social protection floor (including health) would cost—is about $1,191 billion in the current year, including the impact of Covid-19. But the gap for the low-income countries is only some $78 billion, a negligible amount compared to the GDP of the industrialized countries.

Yet the total official development assistance for social protection amounts to only 0.0047 percent of the gross national income of donor countries.

International human rights law recognizes that wealthy States have a duty to help fulfill social rights in countries with more limited resources, and a number of steps have already been taken to convert this commitment into concrete assistance. In 2011 an expert advisory

group recommended donors provide predictable, multi-year financing to strengthen social protection in developing countries. In 2012, two independent UN human rights experts proposed a Global Fund for Social Protection to help low-income countries create social protection floors for their people. The same year the ILO’s membership—governments, workers and employers from 185 countries—backed the idea of comprehensive social protection with a unanimously-adopted pledge to “establish and maintain...social protection floors as a fundamental element of their national social security systems.”

We regularly hear pledges that we must, and will, ‘build back better’ from the current crisis. We can only do this if everybody has a minimum level of social protection, including the poorest and most marginalized. Countries must deploy the maximum resources avail-

or constructed in its present state only after World War II. While the office of FPJ productions is in Del Monte Avenue corner Biak na Bato, FPJ turned the whole QC into his studio as he shot many of his movies in different areas of this city. There are many streets in our city that are his favorite location sites for his movies, or memorable to him or connected with him. As we all know, his family lived along Roosevelt Avenue.

In summary, we plead for the preservation of San Pedro Bautista’s legacy that bestowed rich historical, religious and cultural values attached to the name Del Monte Avenue.

We humbly propose that FPJ’s name be honored in ANOTHER street with a name that is not as treasured and significant as the name of Del Monte Avenue.

We assure you, the whole Congress, and our entire government of our prayers for success in the efforts to help our people overcome the grave crises we are in.

Fr. Cielo R. Almazan, Ofm Minister Provincial Order of Friars Minor, Province of San Pedro Bautista, Philippines

able to make social protection a reality for all. This may require more effective approaches to taxation and tackling corruption. Longer term, this redistribution of assets will help to curb inequality and discrimination and support the 2030 Agenda for Sustainable Development’s promise to “leave no one behind.”

This crisis offers us many lessons.

One is that building back better requires international solidarity and better social protection for all, not just those who can already afford it. If we ignore this message, we risk condemning future generations to endure once more the immense suffering we see today. That, surely, is an intolerable prospect.

Michelle Bachele is the UN High Commissioner for Human Rights; Olivier De Schutter is the UN Special Rapporteur on extreme poverty and human rights; and Guy Ryder is the Director-General, International Labor Organization.

A8 Monday, October 5, 2020

Bill for ‘independent’ FDA to screen vaccines pushed

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SENIOR lawmaker on Sunday called for the immediate passage of a bill creating a separate and independent Food and Drug Administration (FDA) that will screen over 30 potential Covid-19 vaccines.

Buhay Rep. Lito Atienza said FDA has always been under the Department of Health since its establishment under Republic Act 3720 in 1963.

Atienza said he wants an autonomous FDA to screen Covid-19 as well as Dengvaxia vaccines.

“We want a new and totally independent FDA to analyze every coronavirus vaccine tendered, not just to avoid a repeat of the Dengvaxia mess, but to ensure that Filipinos get the best possible immunization in terms of efficacy and safety without any shortcuts,” Atienza said.

“One of the lessons we learned from the Dengvaxia affair is that we have to insulate the FDA from unwanted external pressures, including those that might come from future health officials who are also politicians,”Atienza added.

Under House Bill 1106, the lawmaker wants the FDA to be completely detached from the DOH, whose officials in the past had been accused of meddling in order to expedite regulatory approval of Dengvaxia.

Atienza, however, stressed the need for Congress “to safeguard the FDA’s professional integrity if we want the agency to effectively perform its job of protecting public health against unsafe biological products and pharmaceutical agents.”

The FDA should be “absolutely free from somebody else’s authority,” Atienza said. “For too long, the FDA has been carrying out its mandate, but always under the supervision of the DOH. As such, not only has it taken them far too long to act on issues concerning the safety and efficacy of various food, drugs, devices, vaccines and other materials,” he added.

Around 30 experimental coronavirus vaccines are undergoing the last phase of human trials around the world, including one being developed by the maker of Dengvaxia and with a reported higher efficacy of 70 percent.

FDA Director General Eric Domingo earlier said the agency will likely start analyzing applications for the first vaccines by the second quarter of 2021.

Widespread immunization against the coronavirus is not expected until mid-2021, despite the anticipation of progress in producing available vaccines, according to the World Health Organization.

Under the bill, the new FDA shall be empowered not only to issue cease and desist orders, but to order the ban, recall, and/or withdrawal of any health product found to have cause the death, serious illness or serious injury to a consumer or patient, or is found to be imminently injurious, unsafe, dangerous, or grossly deceptive.

The bill said the budgetary requirement necessary for the operation of the FDA shall be included in the annual General Appropriations Act.

Jovee Marie N. Dela Cruz

DepEd sets virtual welcome for 22.5-M public school kids

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By Claudeth Mocon-Ciriaco |Correspondent

HE Department of Education (DepEd) is set to welcome virtually on Monday (October 5) over 22.5 million public school enrollees for School Year (SY) 20202021, as the National Police gave assurances it has established its presence and assistance centers near or within learning institutions around the country.

The deployment of personnel, aside from the setting up of police assistance centers, will complement its Covid-19 response operations through quarantine control points (QCPs), the PNP said in a statement on Sunday.

Education Secretary Leonor Magtolis Briones thanked over 24.27 million enrollees who decided to go back to school despite the challenges. There were 24,273,533 million enrollees in basic education for the combined public and private schools nationwide for this SY as of October 2 data of DepEd. For private schools there were 2,166,059 million enrollees or 50.32 percent; while 394,462 have registered in Al-

ternative Learning System or 53.31 percent of last year’s enrollees.

Briones said that some of these young learners even wrote her saying, “Secretary, I want to go back to school. I want to be in a class again.”

She also thanked 48 million to 50 million parents “who accept the fact, urging us to continue teaching our learners.” “[This is a celebration, this is a] declaration of victory. A declaration of continuity of education,whatever challenges we are facing. Education will continue, and [our] children will continue learning, and [our] parents will continue supporting us. Our government, our teachers, all of us are involved in this effort and this will be the biggest victory of all at this time of the pandemic,” Briones had said in one of her press briefings.

The DepEd had resisted persistent calls from some quarters for an “academic freeze,” as they cited the unprecedented challenges posed to schools, teachers, students and parents of the shift to a multimodal learning to substitute for in-school encounters as a precaution against Covid-19. Briones, a former teacher, said suspending the school year would do more harm than good to students.

DepEd’s executive committee members, and service and bureau

directors will be in full force on the ground on Monday and are scheduled to give live updates on the implementation of distance learning on the first day of classes in the field offices or schools they will visit.

Panels related to the opening of classes and the implementation of the Basic Education-Learning Continuity Plan (BE-LCP) will also be featured, including Oplan Balik Eskwela (OBE), Health and Safety Protocols, and Education Continuity.

The OBE panel shall be led by Undersecretaries Jesus Lorenzo Mateo and Revsee Escobedo, with Regional Directors Wilfredo Cabral (Calabarzon), Ramir Uytico (Region 8), and Arturo Bayocot (Region 10) set to give field updates.

The DepEd Region 2 will hold its regional kick-off ceremony, aired on RBC Cable Network and Radyo Pilipinas DWPE from 6 a.m., with the livestream posted on the regional and SDO FB Pages. The Philippine Information Agency also committed to post the program on their widely subscribed FB Page while media partners in the locality were also asked to do the same.

Regional Director Estela LeonCariño, EdD, CESO IV, echoed Briones in saying that the opening of classes on October 5 will be a day of “victory” for the Filipino learners, of basic education, and of the LCP. “The kick-off ceremony is about telling the nation how powerful love and unity can be. It will send the very strong, unequivocal message that even in the face of a pandemic, education can continue because the whole village is coming together in the name of the learner,” Cariño added.

“We have implemented innovations to respond to the need for proper, accurate and timely information. We gave regular updates

Vaccine fixation not the best response to pandemics–ADB

By Cai U. Ordinario

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@caiordinario

VACCINE will not end the ill effects of the pandemic on health and the economy, according to health experts from the Asian Development Bank (ADB).

In an Asian Development Blog, Germany-based Global Health Specialist Martina Merten and ADB Principal Knowledge Sharing and Services Specialist Susann Roth said there is more to emerging victorious against Covid-19 than a vaccine.

Merten and Roth said while immunization is key for avoiding deaths from several infectious diseases and making a vaccine available globally is a major step toward recovery, this should be coupled with efforts to improve health care, including facilities and access, as well as addressing social inequities.

“We should not forget about other measures. We now know that investments in the social d e t e r m i n a nt s of he a lt h — i n particular, education, income, physical env ironment, access to health services and paid sick leave—have a major inf luence on health outcomes. Social inequalities in health have been

proven to impact Covid-19 morbidity and mortality,” Merten and Roth said.

The authors also said lockdowns should not be the answer to future pandemics. The spate of lockdowns that governments implemented caused economic growth to plummet.

The Philippines, which implemented one of the longest lockdowns during the pandemic, posted a 16.5-percent contraction in the April-to-June period. The second quarter marked the height of the country’s lockdowns.

Apart from causing economies to reel, Merten and Roth said lockdowns widened social inequality.

The authors cited findings of recent reports that many children, for one, were unable to access education, health care, food and suffered protection risks during the lockdowns.

“The take-home message is this: Lockdowns cannot be the answer in future, especially because they undermine what has been achieved already, in terms of progress made to date on determinants of health. They also widen the social gap,” Merten and Roth said.

Continued on A4

through the following program on FB live Stream: Spoxes Speak with Usec. Annalyn Sevilla, DepEd Dos Ayos, Today with RD Estela, a Talk Show, PAUdora’s Box, PAUwerful Views-Leaderspeak, and the Weekly Media Briefer. All of these helped us reached our clients and media partners,” said PAU Head Amir M. Aquino.

Meanwhile, Region 10 held their pre-opening of classes on September 30 in all the 14 divisions.

Region 10 Director Bayocot said the event highlighted DepEd’s collaboration with all stakeholders.

“We have prepared our Basic Education Learning Continuity Plans to address our educational needs under the ‘New Learning landscape.’ Thanks to our partners for generously helping us in implementing all our LCPs in the region,” Bayocot added.

Bayocot cited the teachers who “have selflessly and courageously offered their services even to the seemingly unreached, financially challenged, and those under difficult circumstances.”

PNP watch

THE PNP, meanwhile, said it “remains to be on the watch, with police visibility and its assistance centers,” ready to support all stakeholders in distance learning across the country.

“Should there be clarifications on a particular place of jurisdiction, it will be that concern police office to address. But as a whole, [the] PNP maintains its visibility and assistance centers,” the PNP added.

The PNP said it will enforce rules by the Inter-Agency Task Force (IATF) in relation to Covid-19.

“All regular police work is still at hand, for maintenance of peace and order is our main task as an everyday endeavor,” the PNP said.

With Rene Acosta

DOLE eyes 3-mos more of temporary displacement

T

HE Department of Labor and Employment (DOLE) is looking to extend beyond six months the period of temporary displacement for employees in order to avert a possible mass permanent retrenchment.

Labor Secretary Silvestre H. Bello III said they initiated the study based on the appeal of the employers’ groups.

“Employers appealed if we can extend the period because they said their business is not yet good and they are still not in a position to rehire them,” Bello said during a Senate budget hearing last week.

Labor Undersecretary Benjo Benavidez explained the six-month temporary displacement scheme is based on existing jurisprudence.

Many of the companies had implemented temporary displacement schemes last March to cope with the large-scale community quarantine of the government to stop the spread of the novel coronavirus disease (Covid-19).

Bello said he is “inclined” to accept the request since Covid-affected companies may just opt to retrench their workers if they will not be allowed to extend the temporary displacement.

“I am interested in maintaining the employment status of our workers,” Bello said. However, he noted the extension may be just three months, which he said may be “more acceptable” to affected workers rather than another six months.

The labor chief said they might come out with the new policy on the matter this week.

As of September 14, 2020, DOLE registered over 2 million workers who were affected by the temporary closure of establishments since January.

Samuel P. Medenilla

Companies BusinessMirror

www.businessmirror.com.ph

PHL franchising can weather pandemic fallout–PFA exec

A

By Elijah Felice E. Rosales

@alyasjah

total of 90,000 franchise outlets are expected to shut down by the end of the year in what may be the deadliest blow to a sector which accounts for nearly 8 percent of Philippine GDP. In a news briefing last week, Philippine Franchise Association (PFA) Chairman Emeritus Samie C. Lim said the Covid-19 pandemic will cut the number of franchisees in the Philippines by at least 45 percent.

However, as gloomy as this may be, he said prospects remain bright for the franchise sector.

Based on PFA projections, at least 90,000 stalls will be shredded from the 200,000 outlets the Philippines

had at the beginning of the year.

Lim explained franchising took a beating from the pandemic, especially when the government enforced a lockdown in Luzon. As most of franchise stores operate inside malls, they saw their sales sink to the bottom when commercial areas were ordered to close.

What franchisers and franchisees should do then is accelerate expansion projects next year to take ad-

vantage of the anticipated business recovery by that time, Lim argued.

If things go the way of the sector, it may just double its numbers in five years. Lim said the PFA expects franchise outlets to reach 250,000 by 2025 to the benefit of micro, small and medium enterprises (MSMEs) linked to their supply chains.

Before the health crisis, franchising is estimated to contribute around 7.8 percent of GDP, with food making up for 80 percent at P538 billion and retail, 10 percent at P67 billion.

This number is seen to go down this year due to the closure of thousands of franchise firms. In a survey by PwC Philippines during the enhanced community quarantine (ECQ), 72 percent of franchise owners said 2020 sales will go down by as much as 50 percent.

The poll also reported 85 percent of franchises listed recession as their topmost concern, while more than half pointed to the decline in con-

sumer confidence, lack of business continuity plan, as well as impact on productivity.

Moving forward, 70 percent disclosed they require at least P1 million to as much as P20 million to normalize operations after the ECQ. Likewise, 84 percent said they need the government to grant them fiscal incentives to carry on in the new normal.

To keep on improving the knowledge of franchise owners, the PFA will hold this year’s Certified Franchise Executive (CFE) Masterclass from October 5 to October 9, to be facilitated by Greg Nathan, founder of the Franchise Relationships Institute.

The CFE is a learning program accredited by the Institute of Certified Franchise Executives and designed to raise the expertise of franchisors and franchisees alike. The CFE class this year, to be conducted online, will highlight opportunities in the time of Covid-19.

Scrutiny of Malampaya deal pushed

By Lenie Lectura @llectura

T

HE Senate Committee on Energy will be looking into the Malampaya transaction involving the sale of the gas field operator’s 45-percent stake possibly to existing consortium members or to new parties.

While the impending transaction involves private companies, committee chair Sherwin Gatchalian said government must be involved in dealings that affect the country’s energy security.

The Malampaya gas field delivers about 20 percent of the country’s electricity requirements for nearly two decades. It is expected to run dry by 2024.

“We will file a resolution to inquire about the Malampaya transaction. We want to know the future of Malampaya and we want to know the transactions happening in relation to energy security,” said Gatchalian

Delta to block middle seats until Jan. 6

T

HIS holiday season, Delta Air Lines said it is extending its major health and safety protocols—blocking the selection of middle seats and limiting the number of passengers each flight—until January 6, 2021.

The selection of center seats in Delta Premium Select, Delta Comfort+ and Main Cabin via the Fly Delta app or online will be restricted for safety of customers in parties of one or 2.

For passengers in groups of 3 or more, however, the said seats will appear as available for booking to allow families and travel companions to select seats together.

“Medical experts, including our own partners at Emory Healthcare, agree—more distance on board makes a difference,” said Bill Lentsch, chief customer experience officer of Delta Air Lines.

“We believe that taking care of our customers and employees and restoring confidence in the safety of air travel is more important right now than filling up every seat on a plane.”

To ensure flights are not filled to capacity, the American airline will limit the number of customers on board all aircraft, with or without middle seats; reduce the first class cabin to half capacity or capped at 67 percent all regional jets in 1x2 configurations; and block one aisle of seats on aircraft sans middle seats.

In case of a change in travel plans, the airline will extend its waiver on change fees for newly purchased flights, including international flights and Basic Economy fares, until end of the year.

Also, it will extend its expiration on travel credits through December 2022 for tickets booked before April 17. Roderick L. Abad

in an interview.

Gatchalian recently filed Senate Bill 1819 for the country to provide a national energy policy and framework for the development and regulation of the Philippine midstream natural gas industry.

“The proposed Midstream Natural Gas Industry Development Act will encourage private capital and foster an open and fair competitive market while at the same time ensure safe, reliable and environmentally responsible operation of LNG [liquefied natural gas] terminals,” the senator said.

The Department of Energy (DOE) awarded the (Malampaya) Service Contract 38 to a consortium led by Shell Philippines Exploration BV (SPEx), which earlier announced plans to divest itself of its 45-percent interest as part of its portfolio rationalization efforts.

Other consortium members include Dennis Uy-led Udenna Corp.

(UC), with 45-percent interest, and

Philippine National Oil CompanyExploration Corp. (PNOC-EC), 10 percent.

UC, which bought its shares from Chevron Malampaya Llc. last year, said it would invoke its pre-emptive and consent rights over the stake sale.

Udenna Group spokesperson Raymond Zorrilla said only UC and PNOC-EC are “the most suitable party” to assume Shell’s interest. UC is asking PNOC-EC to join in its pursuit to take over the gas field.

The original SC 38 consortium— SPEX, Chevron and PNOC-EC—is supplying gas to 5 power plants since the gas field was commissioned in 2001.

“I would rather have consortium members who have experience in exploration. We have been told that this is a private transaction but we are looking at a bigger picture here because it involves national energy security. In PD [Presidential Decree] 87, the ener-

gy security aspect should be looked into,” said Gatchalian.

Consumer advocate Laban Konsyumer, Inc. (LKI) agrees.

“Government needs a partner with institutional expertise in the project, not only money,” commented LKI President Victor Dimagiba.

Energy Secretary Alfonso G. Cusi assured that a change in the consortium members would not affect the country’s gas supply. “In case it’s sold, it won’t affect our gas supply for the power plants drawing from it,” the energy chief said.

While the upstream development arm of the Royal Shell Group has yet to name prospective buyers, SPEx said it would not sell until it finds the most qualified buyer.

“Our priority is to make sure we have a safe and reliable operations. We are committed to continue with the operations until a suitable, financially and technically competent buyer is found,” the company said.

Law protecting online buyers under way

By Butch Fernandez @butchfBM

T

he Senate is at work on a bill providing protection for online buyers against sellers of defective products through the Internet.

Filed by Senator Sherwin Gatchalian, Senate Bill 1591 includes a key provision called "solidary liability" that once enacted into law will hold liable local traders selling imported but defective products bought online.

“One of the provisions in the bill is called solidary liability,” Gatchalian said, adding: "this means that if a delivered product is defective, the seller is equally liable as most of the products sold online came from abroad."

(Isang probisyon dito sa panukala natin yung tinatawag na solidary liability. So ibig sabihin kung yung nagbebenta o yung produkto ay may problema, kasama yung nagbebenta sa liability o sa pananagutan nung produkto dahil karamihan ng mga produktong binebenta online ay nanggagaling sa ibang bansa.)

The Senator explained, for instance, that if a customer bought a product that is defective, the local seller of this should also be held liable. The customer should file a complaint at the Department of Trade and Industry (DTI) which can then “confiscate the defective products.”

“But if bought online, how will you go to the seller of the defective product?," he asked, adding: "About 70 to 80 percent of goods sold came from abroad. That is why we have to hold accountable the local sources of these defective goods.”

Gatchalian recalled that during the Senate hearing, they found out that not only illegal items, but fake medicines and supplements were also smuggled into the country.

“Fake rubber shoes, fake branded bags and medicines and supplements that were not approved by the FDA [Food and Drugs Administration] are also being sold. We cannot condone the sale of these supplements as these are being ingested,” Gatchalian said, in a mix of English and Filipino.

“A lot of these supplements, particularly dietary supplements for weight loss, are being bought by local consumers because they want to lose weight. What if they develop an allergic reaction to these products? Who should be held responsible? Many of these products are imported. So sellers who distribute these products in the country must also be held liable.”

Asked about the status of the bill, the Senator said it will now be refined by a technical working group even as they are also keen to hear from online sellers and online platforms.

Gatchalian added that big online sellers like Shopee and Lazada conveyed readiness to help address problems encountered in online trading.

“In fairness to them, they admitted that there's a problem and they want to help address it,” the Senator said, in a mix of English and Filipino. “They did not deny that there’s a problem and they said they will cooperate with the government and that they will look at how they can better protect Filipino consumers.”

Filinvest program backs tech start-ups

G

otianun-led Filinvest group said it has launched its own program to engage technology start-ups both here and abroad to help the digitalization of its operating companies, possibly helping them reinvent themselves to keep up with changing consumer behavior.

The company said it launched its program called Filinvent.io, which will be led by its in-

novation and ventures arm f(dev).

With the program, Filinvest's units can tap tech startups, emerging technologies and disruptive innovations externally across different markets and technology sectors to solve business challenges. The aim is to accelerate digital transformation through a broad range of collaborations with startups, including product development efforts, knowledge exchanges,

licensing deals, strategic partnerships, and even potential investments, the company said.

“We believe that having an active engagement strategy with the digital startup ecosystem—both locally and globally—is an important capability of large organizations moving forward,” Josephine Gotianun-Yap, president and CEO of Filinvest Development Corp., said. VG Cabuag

Monday, October 5, 2020

B1

Lucio Tan III leads Tanduay’s continued US market growth

E

ven as most businesses are reeling under the effect of the pandemic, Filipino rum maker Tanduay’s growth continues on an upwards trajectory.

Now headed by Lucio Tan III, the third-generation scion to one of the Philippines’s big-gest conglomerates, Tanduay continues to successfully enter new international markets. Most recently, it inked deals with the largest wines and spirits distributors in the United States, Johnson Brothers and General Beverage.

Tanduay can now be found in Hawaii, Nevada, Wisconsin, Florida, New York, New Jersey, Illinois, California, Tennessee, and Michigan, and in the territory of Guam.

It is also available in China and Singapore, and will be available in Europe by the end of the year.

A software engineer, Tan’s direction for the 165-year-old Tanduay business is to bring it to more customers worldwide, making it available not just through traditional marketing and selling but tapping into online channels as well.

“Even before the pandemic, we were already working on making Tanduay available through techdriven channels. Last June, we launched an online selling site for our Filipino customers, shots.ph.

In the US, we have partnered with Caskers and Flaviar, and we are also available through the online sites of our distributor-partners,” Tan, a graduate of Stanford University, said.

Tanduay’s push toward a more visible international presence started in the 2000s. Its more recent initiatives in the US included a partnership with the Golden State Warriors, making it the first Philippine brand to sponsor an NBA team. It had naming rights to the Tanduay Club in the Oracle Arena, and Tanduay Rum can be found at retailers in the Golden State Warriors’ blue and gold “Strength in Numbers” collectible boxes in California. Tanduay currently has its own branded bar at the Chase Center, the Golden State Warriors’ brand-new arena in San Francisco’s Bay District which opened in 2019.

Tanduay also became the official rum of the Barclays Center and the Brooklyn Nets. It has been a Presenting Sponsor of the 40/40 CLUB

Tanduay Distillers' Inc. President and Chief Operating Officer Lucio Tan III. Contributed Photo

and an Associate Sponsor of the arena’s Brooklyn Show platform.

Tanduay also made a foray into entertainment by being one of the sponsors of the Emmy Awards, the first for any Filipino brand.

The company credits its international partnerships and aggressive marketing efforts for its domination of the international rum category. For three years now, Tanduay has been declared the World’s Number One Rum by Drinks International magazine. It has sold millions of cases worldwide, even outselling more popular international rum brands.

“W hen we market Tanduay internationally, we are also highlighting the craftsmanship of the Filipino. Tanduay is a product that we can proudly say is Philippinemade—from the sugarcane it uses to the unique distilling process it undergoes. These are all products of the Filipino’s hard work and ingenuity,” Tan said.

Tanduay mainly sources its sugarcane from Bacolod in the Visayas, which is a place known for its long history of sugarcane farming. The island is home to the country’s 100-year-old sugar milling company.

Founded in 1854, Tanduay uses the same distillation process that it employed in its now decommissioned distillery in Manila. A Master Blender, who serves as the guardian of Tanduay’s formulas, checks on the consistency and quality of the rums before they are sent for bottling and packaging.

“We’re combining our traditional practices in rum-making with new ways of marketing our products,” Tan said of Tanduay’s direction.

B2

Companies BusinessMirror

Monday, October 5, 2020

PSE STOCK QUOTATIONS

October 2, 2020

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

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

44.5 89.8 65.75 21.65 8.85 38.95 9 16.7 23.35 51.05 17.1 92.35 54.3 0.75 25.8 3.11 1.17 0.28 0.55 155 1.06

44.95 89.9 65.8 21.7 8.86 39 9.48 17.54 23.65 51.9 17.5 92.4 54.35 0.79 26 3.32 1.19 0.295 0.61 157 1.07

44.5 87.95 65.7 21.65 8.9 38.85 9.48 16.7 23.4 51.85 16.7 92.2 54.2 0.79 26 3.1 1.22 0.295 0.58 157 1.07

44.7 89.9 65.95 21.7 8.91 39 9.48 16.72 23.9 52.05 17.6 92.8 54.35 0.79 26.8 3.32 1.24 0.295 0.62 157.5 1.07

44.5 87.6 65.2 21.65 8.71 38.45 9.48 16.68 23.1 51 16.7 92.15 54.2 0.79 25.6 3.1 1.14 0.28 0.56 155 1.07

44.5 89.9 65.75 21.65 8.85 39 9.48 16.7 23.65 51.9 17.5 92.35 54.35 0.79 26 3.32 1.17 0.28 0.61 155 1.07

19900 1458490 583010 19700 536800 2319900 10000 2000 467400 2430 107800 233090 22230 13000 678400 27000 421000 450000 533000 160 30000

885630 129375991.5 38318627 426540 4729965 90123725 94800 33390 10864690 126156 1859308 21529431 1204880.5 10270 17465560 86740 491410 128150 300240 24987 32100

35580 20535906.5 3882490 192650 -668676 35013050 337645 -3317972.5 1083458 14034120 172500 -

INDUSTRIAL AC ENERGY 3.1 3.11 3.11 3.17 3.1 3.1 10330000 32293220 1.22 1.23 1.21 1.23 1.21 1.22 486000 592680 ALSONS CONS ABOITIZ POWER 26.6 26.65 26.35 26.6 26.15 26.6 620200 16441635 0.158 0.16 0.161 0.161 0.158 0.158 620000 98120 BASIC ENERGY FIRST GEN 23.35 23.4 23.3 23.55 23.25 23.4 2835000 66241645 FIRST PHIL HLDG 60 61 60 61 60 60 3980 238812.5 274 277 271.4 277 271.4 277 96130 26392074 MERALCO MANILA WATER 14.74 14.78 14.6 14.78 14.6 14.74 654000 9621310 3.03 3.04 3.01 3.05 3 3.03 1278000 3859460 PETRON 3.1 3.2 3.1 3.1 3.1 3.1 19000 58900 PETROENERGY PHX PETROLEUM 10.8 11.2 11.04 11.2 10.96 11.2 871500 9,724,176( 14.8 14.86 15.5 15.5 14.52 14.8 1200300 17740092 PILIPINAS SHELL SPC POWER 9.9 10.1 9.86 10.1 9.85 9.9 63200 626622 AGRINURTURE 7.71 7.82 7.87 7.89 7.65 7.83 38500 300589 2.63 2.65 2.67 2.67 2.62 2.65 1959000 5177580 AXELUM BOGO MEDELLIN 73 76 75 75 73 73 500 37320 12 12.5 11.42 12 11.42 12 11600 138010 CNTRL AZUCARERA 17.2 17.22 17.2 17.4 17.12 17.2 2236000 38461064 CENTURY FOOD DEL MONTE 4.66 4.77 4.66 4.79 4.66 4.66 38000 177720 5.55 5.58 5.5 5.56 5.47 5.55 2143300 11805023 DNL INDUS EMPERADOR 9.89 9.9 9.9 9.91 9.84 9.9 965000 9538809 SMC FOODANDBEV 64 64.45 64.05 64.8 63.9 64.45 27140 1742506.5 0.63 0.65 0.62 0.64 0.62 0.64 500000 316730 ALLIANCE SELECT FRUITAS HLDG 1.18 1.2 1.19 1.2 1.16 1.2 15301000 17999960 48.5 48.7 49.1 49.35 48.5 48.5 10500 512080 GINEBRA 143 143.1 143.5 143.8 140.5 143 516190 73769578 JOLLIBEE MACAY HLDG 7.81 8.07 7.8 8.08 7.8 7.8 7000 54857 4.91 4.93 4.9 4.93 4.83 4.91 300000 1462470 MAXS GROUP MG HLDG 0.129 0.133 0.133 0.133 0.133 0.133 40000 5320 5.74 5.75 5.78 5.78 5.65 5.74 198100 1129730 SHAKEYS PIZZA 1.19 1.2 1.18 1.21 1.17 1.2 4157000 4957080 ROXAS AND CO RFM CORP 4.79 4.8 4.79 4.79 4.79 4.79 2000 9580 1.78 1.86 1.7 1.88 1.7 1.86 71000 127610 ROXAS HLDG 0.105 0.109 0.104 0.104 0.104 0.104 200000 20800 SWIFT FOODS UNIV ROBINA 136.5 137.5 135.4 138.7 135.3 137.5 1379660 188928674 0.75 0.76 0.77 0.77 0.74 0.76 2543000 1905330 VITARICH CONCRETE A 51.5 52.7 52.75 52.75 51.05 51.05 5030 265293.5 51.8 54 51.6 54.5 51.6 54 7180 372683 CONCRETE B 1.55 1.56 1.57 1.59 1.51 1.55 31015000 48052760 CEMEX HLDG EAGLE CEMENT 14.7 14.76 14.56 14.7 14.38 14.7 425700 6225050 7.12 7.15 7.23 7.27 7.02 7.12 705000 5062968 EEI CORP 5.41 5.45 5.45 5.53 5.3 5.45 1160600 6256848 HOLCIM MEGAWIDE 7.04 7.05 7 7.1 6.85 7.05 1448800 10036134 8.43 8.64 8.5 8.64 8.5 8.64 3500 29900 PHINMA TKC METALS 0.7 0.71 0.72 0.72 0.7 0.71 231000 162790 0.67 0.68 0.69 0.7 0.66 0.68 794000 537480 VULCAN INDL 113.1 131.9 113.2 113.2 113.2 113.2 50 5660 CHEMPHIL CROWN ASIA 1.88 1.9 1.9 1.9 1.9 1.9 10000 19000 1.86 1.89 1.85 1.91 1.82 1.89 389000 719370 EUROMED MABUHAY VINYL 4.25 4.38 4.39 4.4 4.39 4.4 2000 8790 4.05 4.15 4.1 4.1 4.1 4.1 20000 82000 PRYCE CORP 20.15 21.2 20.1 21.5 20.1 21.2 12700 268940 CONCEPCION GREENERGY 2.32 2.33 2.21 2.33 2.2 2.33 22574000 51709450 5.57 5.69 5.6 5.73 5.5 5.69 174000 972360 INTEGRATED MICR 0.96 0.98 0.98 0.98 0.96 0.98 841000 812260 IONICS PANASONIC 4.8 4.92 4.79 4.97 4.79 4.93 40000 193040 1.38 1.39 1.4 1.41 1.35 1.39 1514000 2070010 SFA SEMICON CIRTEK HLDG 5.28 5.29 5.45 5.45 5.25 5.29 4377100 23142547

1031830 2776675 -50969175 -54597.5 628414 -646144 401990.0001 1,068,835.9997) -5021398 5940 50194 31800 -7376356 -32740 -2970898 -396854 -20900 -193970 156235 9993085 9800 694243 -843280 9580 -31932566 -3409400 216700 -78064 121926 35720 2720 18000 -243800 1520810.0003 -47300 -469.9999 -182276

HOLDING & FRIMS ABACORE CAPITAL 0.465 0.47 0.46 0.47 0.46 0.465 5250000 2430450 7.32 7.73 7.74 7.74 7.31 7.72 2900 21629 ASIABEST GROUP AYALA CORP 706.5 710 690 710 688 710 226360 159025395 48.1 48.7 47.95 48.7 47.1 48.7 526500 25414170 ABOITIZ EQUITY ALLIANCE GLOBAL 6.98 7.01 7.01 7.01 6.93 6.98 4060700 28319739 AYALA LAND LOG 2.62 2.63 2.71 2.76 2.61 2.63 2793000 7455040 0.55 0.57 0.55 0.56 0.55 0.55 99000 54830 ANGLO PHIL HLDG ATN HLDG A 0.55 0.57 0.55 0.57 0.55 0.55 3011000 1663010 5.07 5.1 5.12 5.12 5.05 5.07 135900 692821 COSCO CAPITAL 4 4.02 3.99 4.02 3.98 4 6319000 25278050 DMCI HLDG FILINVEST DEV 8.6 8.72 8.75 8.75 8.72 8.72 1300 11372 394.6 395 390 398 390 395 176300 69610312 GT CAPITAL JG SUMMIT 62 63.05 61 63.05 61 63.05 1230640 77054385 LODESTAR 0.6 0.62 0.63 0.63 0.6 0.61 82000 49930 2.27 2.28 2.28 2.3 2.26 2.27 67000 152410 LOPEZ HLDG LT GROUP 8.65 8.87 8.95 8.95 8.65 8.65 993100 8,673,276( 0.455 0.48 0.49 0.49 0.45 0.45 70000 32300 MABUHAY HLDG 3.7 3.71 3.66 3.78 3.66 3.7 98622000 367498460 METRO PAC INV PACIFICA HLDG 2.9 2.92 2.92 2.92 2.92 2.92 1000 2920 0.77 0.78 0.76 0.78 0.76 0.78 192000 147640 PRIME MEDIA SOLID GROUP 0.98 0.99 0.98 0.98 0.98 0.98 2000 1960 151 156 151 151 151 151 290 43790 SYNERGY GRID 886 888 890 891 877.5 886 132120 116677430 SM INVESTMENTS SAN MIGUEL CORP 99.95 100 100.1 101 99.5 100 127140 12710680.5 0.63 0.64 0.64 0.64 0.61 0.63 251000 158500 SOC RESOURCES 120.1 123 123.5 123.5 120 123.5 100 12210 TOP FRONTIER WELLEX INDUS 0.188 0.197 0.188 0.188 0.188 0.188 230000 43240 0.131 0.134 0.131 0.131 0.13 0.13 150000 19560 ZEUS HLDG

-339100 16748135 10790415 6308881 -726069.9997 121667 -15363380 -38562302 31794269.5 -152410 2,342,981.0003) -135180840 -23386875 -863268.5 12800 -2470 -

PROPERTY ARTHALAND CORP 0.52 0.53 0.52 0.52 0.52 0.52 1984000 1031680 7.55 8.2 7.52 8.2 7.51 8.2 3400 25682 ANCHOR LAND AYALA LAND 30.35 30.7 29.85 30.7 29.8 30.7 5847500 177357390 0.95 0.99 0.95 0.99 0.95 0.99 12000 11640 ARANETA PROP AREIT RT 25.85 25.9 25.9 25.9 25.6 25.9 1845400 47527120 BELLE CORP 1.35 1.36 1.36 1.36 1.35 1.35 178000 241560 0.76 0.77 0.75 0.76 0.74 0.76 1311000 988170 A BROWN CITYLAND DEVT 0.77 0.79 0.77 0.77 0.77 0.77 46000 35420 0.13 0.132 0.13 0.132 0.13 0.132 320000 41760 CROWN EQUITIES 5.8 5.98 5.82 5.83 5.81 5.81 80000 465440 CEBU HLDG CEB LANDMASTERS 4.89 4.91 4.83 4.92 4.82 4.91 123000 599140 0.365 0.375 0.365 0.37 0.36 0.37 1870000 683450 CENTURY PROP CYBER BAY 0.295 0.31 0.31 0.31 0.305 0.31 270000 83150 14.18 14.22 14.2 14.28 14.18 14.22 297300 4228636 DOUBLEDRAGON 5.07 5.08 5.19 5.21 5.05 5.08 346200 1767689 DM WENCESLAO EMPIRE EAST 0.26 0.27 0.265 0.27 0.26 0.27 1430000 376900 0.085 0.09 0.085 0.085 0.085 0.085 270000 22950 EVER GOTESCO 0.92 0.93 0.92 0.93 0.91 0.93 7491000 6894570 FILINVEST LAND GLOBAL ESTATE 0.73 0.74 0.75 0.76 0.73 0.74 1001000 744150 6.41 6.6 6.4 6.7 6.4 6.6 14600 96460 8990 HLDG PHIL INFRADEV 1.2 1.21 1.17 1.21 1.15 1.21 4900000 5816160 CITY AND LAND 0.67 0.7 0.67 0.67 0.67 0.67 1000 670 3 3.01 2.94 3 2.92 3 22505000 66865920 MEGAWORLD MRC ALLIED 0.234 0.237 0.238 0.238 0.23 0.234 20710000 4846740 1.17 1.18 1.16 1.2 1.15 1.18 88000 102900 PRIMEX CORP 14.28 14.3 14.24 14.4 14.14 14.28 1438000 20522812 ROBINSONS LAND PHIL REALTY 0.206 0.21 0.206 0.207 0.206 0.206 110000 22680 1.48 1.5 1.48 1.5 1.46 1.49 182000 270600 ROCKWELL STA LUCIA LAND 1.88 1.95 1.96 1.96 1.88 1.95 100000 191430 29.9 30 29.95 30 29.6 30 5839300 175034395 SM PRIME HLDG 3.57 3.59 3.6 3.6 3.53 3.58 58000 207460 VISTAMALLS SUNTRUST HOME 1.15 1.16 1.15 1.17 1.14 1.16 2955000 3398290 3.32 3.33 3.31 3.35 3.27 3.32 2088000 6909790 VISTA LAND

-26321670 -20066265 -160450 35420 9660 -1767574 153400 4130010 -151600 -53720 -181500 4668640 23460 -1984102 -1500 104242835 -17400 -179810

SERVICES ABS CBN 7.06 7.2 7.06 7.2 7 7.06 522200 3706785 5.02 5.04 5.06 5.1 5.02 5.05 626900 3160698 GMA NETWORK MANILA BULLETIN 0.385 0.395 0.385 0.39 0.385 0.385 180000 69400 10.8 10.88 11 11 10.88 10.88 600 6540 MLA BRDCASTING GLOBE TELECOM 2100 2120 2112 2120 2080 2120 33985 71657710 PLDT 1364 1369 1333 1384 1331 1364 167425 228981900 0.062 0.063 0.061 0.063 0.06 0.063 196580000 12082380 APOLLO GLOBAL DFNN INC 2.86 2.98 2.85 3 2.84 2.9 29000 84630 5.76 5.77 5.5 5.9 5.31 5.76 200482600 1124916854 DITO CME HLDG 1.19 1.34 1.19 1.34 1.19 1.34 3000 3830 IMPERIAL ISLAND INFO 0.082 0.083 0.083 0.083 0.08 0.082 1500000 122130 1.52 1.54 1.55 1.55 1.52 1.52 65000 99450 JACKSTONES NOW CORP 3.72 3.73 3.65 3.75 3.51 3.72 42102000 153593150 TRANSPACIFIC BR 0.194 0.196 0.196 0.198 0.192 0.195 7490000 1455310 2.13 2.14 2.18 2.18 2.12 2.13 400000 853250 PHILWEB 2GO GROUP 8.4 8.6 8.31 8.4 8.25 8.4 49700 411761 5.33 5.34 5.07 5.47 5.02 5.33 33626000 177021060 CHELSEA 38.95 39 39.9 40 38.5 39 410600 16,094,545( CEBU AIR INTL CONTAINER 114.9 115.1 115 115.2 113.1 115.1 1058800 121540877 14.42 15 15 15 15 15 200 3000 LBC EXPRESS MACROASIA 4.63 4.64 4.63 4.73 4.6 4.64 2502000 11593430 METROALLIANCE A 1.98 1.99 2 2.01 1.9 1.98 1404000 2725840 1.95 2 1.91 1.93 1.91 1.93 7000 13470 METROALLIANCE B PAL HLDG 5.65 5.68 5.7 5.7 5.65 5.65 102800 581132 1.08 1.09 0.99 1.09 0.95 1.09 6713000 7019230 HARBOR STAR 0.027 0.028 0.027 0.027 0.026 0.027 34000000 907200 BOULEVARD HLDG DISCOVERY WORLD 1.4 1.48 1.4 1.4 1.4 1.4 4000 5600 0.385 0.395 0.38 0.395 0.38 0.395 1050000 401600 WATERFRONT FAR EASTERN U 545 555 555 555 555 555 10 5550 7.01 7.29 7.05 7.36 7.05 7.3 4600 32842 IPEOPLE 0.31 0.315 0.305 0.315 0.305 0.31 3140000 970400 STI HLDG BERJAYA 2.9 2.91 2.97 3 2.86 2.9 631000 1828030 7.07 7.08 7.18 7.2 7.07 7.07 2319100 16480683 BLOOMBERRY 1.75 1.81 1.85 1.85 1.75 1.75 552000 974540 PACIFIC ONLINE LEISURE AND RES 1.27 1.29 1.27 1.3 1.24 1.29 131000 165800 2.93 3.04 3 3.47 2.85 3.04 1697000 5258840 PH RESORTS GRP PREMIUM LEISURE 0.305 0.31 0.305 0.31 0.305 0.305 6310000 1927050 5.72 5.73 5.68 5.76 5.68 5.73 6275300 35919732 ALLHOME 1.36 1.37 1.36 1.38 1.24 1.36 3563000 4778670 METRO RETAIL PUREGOLD 48.1 48.5 48.5 48.65 48.05 48.1 1122100 54141955 65.5 66.45 66.9 66.9 65.5 65.5 261810 17328480.5 ROBINSONS RTL 110.1 111 112.8 113 111 111 298630 33185979 PHIL SEVEN CORP SSI GROUP 1.13 1.14 1.11 1.14 1.1 1.14 2423000 2706680 15.84 15.86 15.82 15.86 15.82 15.84 212000 3361930 WILCON DEPOT APC GROUP 0.285 0.295 0.285 0.29 0.285 0.29 1040000 298800 6.5 6.53 6.39 6.78 6.39 6.5 35600 229995 EASYCALL 287 308 285 307 285 307 660 201930 GOLDEN BRIA IPM HLDG 3 4.39 2.81 4.39 2.81 4.39 3000 10010 2.03 2.21 2.02 2.02 2.02 2.02 12000 24240 PAXYS PRMIERE HORIZON 0.221 0.223 0.224 0.225 0.22 0.221 5930000 1311710 SBS PHIL CORP 4 4.17 4.17 4.17 3.95 4.17 103000 412510

-5777210 -75633320 -180900 -46280 -5430983 7396130 -7629 377720 5,806,115.0002) 28634091 462000 -213001 -65660 190000 6200 -372326 17500 3720 12863639 -1779330 -815520 -14332178 -151834 12429.9999 -83924 402600 -

MINING & OIL ATOK 6.89 7.55 7.6 7.75 6.66 7.62 37600 276312 APEX MINING 1.41 1.42 1.43 1.44 1.4 1.41 4151000 5857680 -1253600 0.0008 0.0009 0.0008 0.0009 0.0008 0.0009 420000000 347500 9600 ABRA MINING ATLAS MINING 3.8 3.9 3.84 3.9 3.8 3.8 243000 927000 2.54 2.57 2.5 2.75 2.5 2.57 137000 353380 BENGUET A 2.31 2.5 2.6 2.6 2.6 2.6 2000 5200 BENGUET B COAL ASIA HLDG 0.255 0.26 0.255 0.26 0.25 0.26 2650000 677800 2.5 2.54 2.49 2.55 2.47 2.54 198000 497950 279399.9999 CENTURY PEAK 7.21 7.3 7.38 7.38 7.18 7.3 4700 33935 DIZON MINES FERRONICKEL 1.13 1.14 1.13 1.14 1.11 1.13 6316000 7103920 382010 0.223 0.227 0.227 0.228 0.223 0.226 300000 67280 GEOGRACE LEPANTO A 0.128 0.129 0.13 0.131 0.128 0.129 4610000 594680 0.127 0.13 0.126 0.126 0.126 0.126 990000 124740 LEPANTO B 0.83 0.84 0.82 0.84 0.82 0.84 590000 487770 MARCVENTURES NIHAO 1.98 2 1.97 2 1.97 1.99 179000 354990 -13930 2.98 2.99 3 3 2.95 2.98 5556000 16465090 -1124650 NICKEL ASIA 0.36 0.375 0.38 0.38 0.36 0.36 940000 350800 1600 OMICO CORP ORNTL PENINSULA 0.52 0.53 0.55 0.55 0.52 0.53 175000 92040 4.03 4.06 4.05 4.1 4 4.07 597000 2411640 913140 PX MINING SEMIRARA MINING 9.94 9.95 9.75 10.02 9.74 9.95 833300 8247208 1433107 UNITED PARAGON 0.0041 0.0043 0.0043 0.0043 0.0043 0.0043 2000000 8600 5.75 5.8 5.95 5.95 5.75 5.75 142500 822701 ACE ENEXOR PHILODRILL 0.0078 0.008 0.0082 0.0082 0.0077 0.0081 70000000 551900 5.16 5.17 5.16 5.19 5.15 5.16 1094900 5649891 295392 PXP ENERGY

PREFFERED HOUSE PREF A 99.5 101.5 101.5 101.5 101.5 101.5 400 40600 511 515 515 515 515 515 1140 587100 AC PREF B1 AC PREF B2R 506 515 515 515 515 515 1120 576800 100.5 100.6 100.6 100.6 100.6 100.6 10800 1086480 DD PREF FGEN PREF G 106.6 108 106.6 106.6 106.6 106.6 100000 10660000 506.5 508 508 508 508 508 1380 701040 GLO PREF P 1020 1029 1020 1020 1020 1020 100 102000 GTCAP PREF B MWIDE PREF 101.3 101.5 101.5 101.5 101.5 101.5 25530 2591295 98 98.2 98 98 98 98 16200 1587600 PNX PREF 3A 102 102.5 101 102.5 101 102.4 2850 290590 PNX PREF 3B PNX PREF 4 945.5 947 955 960 945.5 947 15040 14276325 -7576000 1020 1045 1049 1049 1040 1045 25 26140 PCOR PREF 2B PCOR PREF 3A 1057 1058 1057 1057 1057 1057 50 52850 1075 1088 1075 1075 1075 1075 100 107500 PCOR PREF 3B 77.9 78 78 78 77.95 78 26730 2083902 99840 SMC PREF 2C SMC PREF 2E 75.7 76.5 75.55 75.55 75.55 75.55 119900 9058445 77 77.5 77.5 77.5 77 77.5 155800 12003350 SMC PREF 2F 76 76.95 76 76 76 76 30 2280 SMC PREF 2G SMC PREF 2I 76.05 78 76.05 76.05 75.8 75.8 10700 812211 9880

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 6.8 7.04 6.9 7.14 6.8 7.04 312200 2200618 -824712 4.82 4.98 4.81 4.81 4.81 4.81 2000 9620 GMA HLDG PDR

WARRANTS LR WARRANT 0.62 0.65 0.61 0.65 0.61 0.62 91000 56800

SMALL & MEDIUM ENTERPRISES ALTUS PROP 9.4 9.49 9.85 9.85 9.4 9.4 244600 2309856 -10725 2.36 2.37 2.17 2.39 2.16 2.36 20785000 47517600 99100 ITALPINAS KEPWEALTH 5.09 5.2 5.1 5.1 5.06 5.09 77300 392735 9126 3.06 3.07 3.01 3.09 2.96 3.06 26636000 80561920 -338760 MERRYMART

EXHANGE TRADE FUNDS

FIRST METRO ETF 90.55 90.6 89.9 90.55 89.25 90.55 8240 742326 70161

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Follow-on offer of Dennis Uy’s gaming arm secures PSE nod

P

By VG Cabuag

@villygc

H Resorts Group Holdings Inc., the gambling arm of businessman Dennis Uy, has secured regulatory approval for its P1.12 billion followon offer of common shares at the Philippine Stock Exchange.

According to its registration statement, PH Resorts will sell a total of 450 million common shares, some 150 million of which will be its over-allotment option.

The said shares comprise 8.5 percent of its outstanding common shares, which will increase its current public float level of 10 percent.

The said shares will be sold at a range of P1 to P2.50 per share.

“It’s all systems go. Despite the ongoing Covid-19 pandemic we are

playing our long game and our objective of delivering a world-class integrated resort in Cebu remains unchanged,” Uy, the company's chairman, said in a statement.

PH Resorts has appointed Unicapital Inc. and Abacus Capital and Investment Corp. as lead and colead underwriters, respectively, for the follow-on offering.

Final price setting will be on October 13, while its one week offer period will commence on October

STOCK-MARKET OUTLOOK Last week

Share prices rose last week, but the market index still failed to hit the 6,000-point level as investors remained cautious and continued to stay on the sidelines.

The benchmark Philippine Stock Exchange index (PSEi) gained 160.74 points to close at 5,999.40 points.

The main index was up almost all week long except on Tuesday, when it gave up some points.

“On Thursday, we saw the market rally right at the close as buyers noticed the diminished selling pressure and started picking up battered index issues. The momentum was enough to carry it higher on Friday, allowing it to close at its highest level in the last three weeks,” Christopher Mangun, research head at AAA Securities Inc., said.

“The recent move was inevitable as investors were waiting for the right moment to come back in after several weeks of increased selling pressure. Better than expected manufacturing data also improved the sentiment,” he added.

Average trading for the week was still low at P4.56 billion, while foreign investors were still net sellers at P3.75 billion.

The Bangko Sentral ng Pilipinas (BSP) also kept its key rates steady during the policy meeting of the Monetary Board.

All other subindices ended in the green, with the exception of the Mining and Oil index that fell 16.24 points to close at 5,857.92 points. The broader All Shares index gained 65.64 points to close at 3,586.27, the Financials index rose 33.34 to 1,172.42, the Industrial index was up 101.04 to 7,973.54, the Holding Firms index soared 163.86 to 6,199.82, the Property index added 74.16 to 2,800.06 and the Services index climbed 30 to 1,470.19.

Losers managed to edge gainers for the week 139 to 86 and 22 shares were unchanged.

Top gainers for the week were mainly Dennis Uy-led firms DITO CME Holdings Corp., Chelsea Logistics and Infrastructure Holdings Corp. and PH Resorts Group Holdings Inc. Now Corp., Italpinas Development Corp. and Cyber Bay Corp. were also among the top gainers.

Top losers, meanwhile, were Pilipinas Shell Petroleum Corp., Filipino Fund Inc., Pacific Online Systems Corp., STI Education Systems Holdings Inc., I-Remit Inc. and Cirtek Holdings Philippines Corp.

This week

Share prices may still trade sideways this week as investors are still cautious about the country's economic prospects.

Broker 2TradeAsia said that from a technical standpoint, the benchmark index continues its sideways marathon, forming a descending triangle pattern.

“By textbook definition, this formation heralds better some downside bias in the nearterm. Stay cautious and opt for modest gains, at least until visibility for positive 'spark plugs' take form,” it said.

It sees the main index support at 5,750 points and resistance at 6,150 points.

Mangun said recent statements from BSP Governor Benjamin Diokno that the government expects GDP contraction in the third quarter will be milder could improve sentiment and give investors some confidence in the country's economic recovery.

“The central bank’s approval of the national government’s request for another P540 billion is also encouraging news to investors. Whichever way the market goes in the coming weeks, investors should continue picking up battered shares as our economy is better positioned than most of its global peers,” he said.

Stock picks

Broker Regina Capital Development Corp. advised to take profits on the stock of DITO, as its shares price may be rising, but mostly during volatile trading, and gains made were erased at the close.

“At this point, the large spread DITO is trading at is at a notably elevated range. Investors who had a position last week still have a chance to make significant profits,” it said.

DITO’s shares closed Friday at P5.76 apiece.

Meanwhile, the broker gave the same recommendation on International Container Terminal Services Inc. as its stock price rose due to high buying volume, which brings its next resistance price at P117.30 per share.

“Indicators are signaling that the stock is about to be overbought, at which point ICT could pullback should investors take cues. Nevertheless, momentum is starting to simmer down. What is crucial now is whether or not ICT will be able to sustain the uptrend enough to breach the next resistance. If it does, ICT will start a new elevated consolidation range,” it said.

Shares of the port operator closed last week at P115.10. VG Cabuag

19. The said shares will be listed at the PSE on November 3.

The net proceeds will be used to partially fund the completion of the first phase of Emerald Bay, the company's P24.2-billion flagship integrated casino beach front resort in Mactan, Cebu.

Emerald Bay will be the first integrated casino resort in Mactan Island with access from the CebuMactan International Airport.

The initial phase of the casino is scheduled for completion by mid-2022.

Upon completion of the first phase, Emerald Bay will feature 122 gaming tables for mass, premium mass and junkets; 600 electronic gaming machines and 270 hotel room bays.

Meanwhile, Uy is pushing for its

mutual funds

soft opening by the end of 2021.

He wants to increase its gaming capacity and hotel rooms starting 2022.

Emerald Bay expects to offer 22 gaming tables for the VIP market upon the completion of the first phase, and 100 gaming tables for the mass market and electronic gambling machines (EGMs) spread across 4,514 square meters of gaming area.

The main gaming floor will also have specially designated areas to cater for a sub-segment of the premium mass market known as “high-limit.” These areas will have gaming tables with higher denomination wagering that are specifically designed to appeal to premium mass market clients, as well as a number of EGMs.

October 2, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 195.59 -21.6% -11.54% -4.56% -22.34% ATRAM Alpha Opportunity Fund, Inc. -a 1.0787 -29.23% -12.86% -2.29% -21.95% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.6322 -32.43% -15.81% -6.47% -28.44% Climbs Share Capital Equity Investment Fund Corp. -a 0.6707 -28.04% -12.66% n.a. -25.31% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6801 -19.47% n.a. n.a. -19.92% First Metro Save and Learn Equity Fund,Inc. -a 4.1962 -21.09% -9.87% -4.56% -21.25% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6546 -23.11% -12.44% n.a.

-23.31% MBG Equity Investment Fund, Inc. -a 84.03 -27.6% n.a. n.a. -18.59% PAMI Equity Index Fund, Inc. -a 39.1939 -23.06% -10.15% -3.4% -23.57% Philam Strategic Growth Fund, Inc. - a 421.08 -20.61% -9.58% -3.59% -20.97% Philequity Alpha One Fund, Inc. -a,d,5 0.8814 n.a. n.a. n.a. -14.44% Philequity Dividend Yield Fund, Inc. -a 0.9988 -21.94% -9.7% -3.26% -22.39% Philequity Fund, Inc. -a 29.3068 -22.27% -9.31% -2.8% -22.67% Philequity MSCI Philippine Index Fund, Inc. -a 0.7722 -23.63% n.a. n.a. -24.15% Philequity PSE Index Fund Inc. -a 4.0025 -22.67% -9.65% -2.69% -23.38% Philippine Stock Index Fund Corp. -a 669.17 -22.56% -9.59% -2.79% -23.26% Soldivo Strategic Growth Fund, Inc. -a 0.6068 -32.31% -13.44% -6.68% -28.73% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.0821 -26.55% -11.22% -4.22% -26.78% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7665 -22.79% -9.89% -2.9% -23.41% United Fund, Inc. -a 2.8016 -23.22% -8.83% -2.42% -23.31% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 89.8627 -22.43% -9.3% -2.01% -23.16% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.0489 10.95% 0.35% 4.05% 1.99% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5052 17.28% 8.04% n.a.

9.18% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5457 -3.68% -5.25% -2.64% -1.09% ATRAM Philippine Balanced Fund, Inc. -a 2.0381 -9.97% -5.31% -1.09% -6.56% First Metro Save and Learn Balanced Fund Inc. -a 2.3878 -8.91% -4.02% -2.49% -9.26% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1721 -25.56% n.a. n.a.

-24.68% NCM Mutual Fund of the Phils., Inc. -a 1.8303 -5.91% -1.84% 0.47% -6.69% PAMI Horizon Fund, Inc. -a 3.4468 -8.04% -3.58% -0.79% -9.03% Philam Fund, Inc. -a 15.4069 -8.3% -3.75% -0.85% -9.16% Solidaritas Fund, Inc. -a -4.67% -1.07% -10.22% 1.9053 -10.31% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2417 -15.55% -5.91% -2.14% -16.09% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9316 -7.24% n.a. n.a. -8.28% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8256 -16.75% n.a. n.a. -17.14% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8019 -18.86% n.a. n.a. -19.26% Sun Life Prosperity Dynamic Fund, Inc. -a 0.794 -18.41% -7.18% -3.1% -18.55% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03895 1.22% 2.65% 2.12% 1.96% 0.86% PAMI Asia Balanced Fund, Inc. -b $1.0333 5.39% 3.61% 2.1% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.1255 10.3% 5.65% 6.44% 5.49% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1586 4.9% 2.95% n.a.

2.65% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 368.33 3.91% 3.06% 2.6% 2.9% ATRAM Corporate Bond Fund, Inc. -a 1.9513 1.78% 0.79% 0.32% 2.59% Cocolife Fixed Income Fund, Inc. -a 3.2019 3.73% 4.79% 4.95% 2.69% Ekklesia Mutual Fund Inc. -a 2.2928 3.63% 2.61% 2.23% 3.12% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4511 4.89% 3.39% 2.03% 3.9% 7.62% Philam Bond Fund, Inc. -a 4.6296 4.11% 2.71% 5.87% Philam Managed Income Fund, Inc. -a, 6 1.3121 5.82% 4.38% 2.48% 4.41% Philequity Peso Bond Fund, Inc. -a 3.9535 5.79% 4.28% 2.36% 4.36% Soldivo Bond Fund, Inc. -a 1.0379 9.05% 3.62% 1.99% 7.63% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1839 5.13% 4.79% 2.99% 3.52% Sun Life Prosperity GS Fund, Inc. -a 1.746 4.05% 4.05% 2.41% 2.64% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $478.41 2.85% 2.49% 2.84% 2.15% ALFM Euro Bond Fund, Inc. -a Є217.04 -1.51% 0.76% 1.2% -1.25% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2364 3.15% 3% 2.63% 2.42% 1.83% 1.76% 2.33% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0264 2.33% PAMI Global Bond Fund, Inc -b $1.0866 -1.15% 0.24% 0.32% -0.64% Philam Dollar Bond Fund, Inc. -a $2.4909 3.39% 3.62% 3.47% 3.64% Philequity Dollar Income Fund Inc. -a $0.0613713 2.09% 2.26% 2.12% 1.78% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1804 0.61% 1.79% 2.46% 0.16% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.17 3.55% 3.3% 2.51% 2.65% First Metro Save and Learn Money Market Fund, Inc. -a 1.0453 2.21% n.a. n.a.

1.85% 2.81% 3.03% 2.62% 2.04% Sun Life Prosperity Money Market Fund, Inc. -a 1.2908 Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0494 1.58% n.a. n.a.

1.07% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.0112 n.a. n.a. n.a. n.a.

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.94 n.a. n.a. n.a. -5.05%

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."

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Banking&Finance BusinessMirror

UN fund for agriculture devt rated AA+ by Fitch

T

he International Fund for Agricultural Development (IFAD) has received an AA+ (stable) rating from Fitch Ratings, the first for any United Nations fund.

In a statement, the IFAD said Fitch also assigned an F1+ rating shortterm rating. The credit rating comes at a time when the IFAD is advocating for its 12th replenishment period for 2022 to 2024.

The IFAD said the favorable credit rating bodes well for increased investments in food security, employment and rural economic growth; an important step towards the achievement of the Sustainable Development Goals (SDGs).

“The strong rating comes at a critical time when the impacts of Covid-19 threaten to push millions more rural people into hunger and poverty,” IFAD President Gilbert F. Houngbo was quoted in the statement as saying. “This rating will allow IFAD to strengthen and diversify its resource base, and build global resilience to future shocks.”

Houngbo said increased investments to the fund by 2030 could increase the production of 201 million small-scale producers; improve the resilience of 111 million project participants; and, raise incomes of 264 million rural women and men by at least 20 percent.

The UN fund said the credit rating added momentum to international efforts “to catalyze additional financing to achieve the SDGs by 2030 and ensure no one is left behind.”

IFAD-supported projects and programs are funded through contribu-

tions from 177 member states, investment income and reflows, as well as co-financing from other sources.

With Official Development Assistance under pressure in recent years, the IFAD said it has been exploring new funding models to help it double its impact on reducing poverty and hunger by 2030, and meet the changing needs of borrowing countries.

“The credit rating will provide us with greater scope to forge partnerships including with the private sector, the public development banks that we will be working with at the ‘Finance In Common Summit’ in November, and gives us the means to leverage every dollar of taxpayer money we receive, allowing IFAD to maximize its support to the poorest of the poor,” Houngbo said.

The IFAD said that due to the pandemic, there could be up to 132 million more hungry people in 2020 alone and extreme poverty looks set to increase for the first time in decades.

With only a decade left to achieve the SDGs, there is an urgent need to increase investment in the rural areas where most of the world’s extremely poor and hungry people live, and where the IFAD focuses its activities.

The IFAD is considered the only global development organization that is exclusively dedicated to transforming agriculture, rural economies and food systems by making them more inclusive, productive, resilient and sustainable.

Since 1978, the IFAD has provided $22.4 billion in grants and low-interest loans to projects that have reached an estimated 512 million people.

Cai U. Ordinario

PNB named best bank for CSR by Asiamoney

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hilippine National Bank (PNB) was honored by a division of global media group Euromoney Institutional Investor PLC with Best Bank for Corporate Social Responsibility (CSR) in the Philippines during the annual Asiamoney Banking Awards.

“We are delighted that PNB’s efforts and CSR initiatives are recognized,” PNB President and CEO Jose Arnulfo A. Veloso said in a statement. “This confirms our commitment toward building a strong relationship with the community.”

We believe in empowering our workforce and building up their skills,”Veloso added. “This is a major component of our sustainability agenda.”

The award is a milestone for PNB as this is the first international recognition for its CSR efforts. Among Philippine banks, PNB was recognized as the bank with a clear track record in demonstrating CSR credentials, while focusing on initiatives, achievements, and milestones.

Veloso said that that PNB recognizes that CSR needs to start from within especially during these difficult times.

“We will not be effective in helping our external communities if we are not

able to take care of our own people,” he said.

Veloso added: “At PNB, we try our best to cultivate an inclusive and collaborative work culture, as we provide equal access to relevant opportunities among all ‘Philnabankers’ to develop their skills and capabilities, regardless of gender and background.”

“We believe that the more we are able to help educate and encourage our colleagues to do their part, no matter how small, we will be helping the community,” he added.

In addition, PNB was recognized as a “Leader for Women” by Asiamoney in its “Women In Finance” supplement.

Among 60 banks in Asia, PNB was one of the banks with the highest percentage of women in the overall workforce. The “Leader for Women”report will highlight financial institutions that have championed the advancement of women in finance across Asia and encompassed gender diversity in the region at global and domestic banks.

Asiamoney is a division of global media group Euromoney, which principally accredits local Asian banks. They identify the best of the best in all markets across a range of core banking services.

NG subsidies to firms it owns or runs nearly double in 8 mos

By Bernadette D. Nicolas

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UBSIDIES given by the national government to companies it owns and runs almost doubled from January to August this year as consumers and the private sector reel from state measures against the Covid-19 pandemic.

Latest data from the Bureau of the Treasury showed subsidies as of end-August ballooning to P192.453 billion, a 98.83-percent increase compared to the P96.794 billion in subsidies the state gave last year.

Subsidies released by the government for the 8-month period

this year is also nearing the fullyear amount the state extended to government-owned and -controlled corporations (GOCCs) in 2019, which reached P201.524 billion.

However, subsidies for the month of August this year was 84.32-percent less at P4.988 billion compared to the P31.808 billion

App allows borrowers to access credit data

By Tyrone Jasper C. Piad @Tyronepiad

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ith individual borrowers requesting for credit reports, the Credit Information Corp. (CIC) recently introduced a mobile application that allows remote access of such data.

The country’s central credit registry said that the public can access CIC credit reports with credit scores through the app launched by CIBI Information Inc., one of the government firm’s accredited credit bureaus and accessing entities.

Individuals may register and create an account while using the application through their electronic gadgets.

CIC Officer-in-Charge President Aileen L. Amor-Bautista said this initiative is enabling the public to avail of the services of the registry at home or anywhere.

“This mobile application by CIBI will help our individual borrowers access their own credit information through their mobile devices,” she said. “The main innovation here is that we can do online identity verification to help secure the process, especially during this time of restricted travel and social distancing.”

An individual’s credit report con-

tains consolidated positive and negative credit data, along with other relevant information submitted by the financial institutions.

It also includes basic personal information, government issued IDs, address, contact details, financial contracts and credit card records, among others.

The report also shows if the individual has no credit exposures at the moment of accessing data.

As of end-August, its database on-boards 18.2 million individuals, nearly 26 percent of the country’s adult population. In addition, the CIC said the credit database comprises 80.4 million contracts, 58.9 million of which are installment transactions.

The credit registry currently has 519 submitting entities coming from different sectors of the financial system.

Amor-Bautista said that borrowers may update or file a dispute should there be erroneous, incomplete, or outdated information presented in the report.

The CIC asked for a P90-million budget for next year as it seeks to improve its database management further.

The bulk, or around P35 million, of this requested financing will be earmarked to better the security and maintenance of its growing credit database.

Perspectives

A new operating model for HR

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o meet the growing challenges head on, we know that the new human resource (HR) function must start to be more project based, agile and digitally enabled, all while reducing operating costs.

But that can be tough to achieve on top of day-to-day tasks.

To remain of value to the business, and in order to maintain a strong leadership position, it’s vital that HR itself rises to the opportunity to drive people change.

With the right operating model for HR, this need not be as far out of reach as it may currently seem.

Stop relying on the cloud alone

Many HR teams look to the cloud as a panacea—but simply plugging into the cloud alone will not necessarily deliver the data-driven insights, smarter decision-making, real value for the bottom line or

anything near the cloud’s actual vast capabilities to redefine HR and engage more effectively with its workers. This requires proactively changing the culture and underlying operating model of HR itself.

Start developing an operating model for tomorrow

Human Resources organizations looking to jump-start with the cloud need an operating model built for tomorrow and beyond—enabling them to envisage and deliver on drivers of change, such as: 1) timely and affordable deployment of HR solutions 2) an intuitive user experience and greater engagement of those systems across the business 3) new levels of mobile accessibility between the business and its workers

Monday, October 5, 2020 B3

4) smarter decision-making between teams and departments 5) work force efficiencies that can pre-empt the demands of tomorrow.

Ensuring success

Our research has highlighted that 90 percent of failed HR transformation initiatives surveyed had not identified measures of success.

(Source: “HR Transformation: Which lens are you using?,” KPMG International, 2017) It’s clear that to help ensure success requires a well-defined sense of where you are going and what you expect to achieve.

This can be best envisaged with a “future-state operating model.”

This vision of the organization of tomorrow can enable improved clarity when changing roles and structures in line

with your transformation, and help ensure you have the right change management capabilities in place. With a map of the ‘endstate’, streamlined processes and improvements in cost efficiency provided by new systems can often be brought forward.

A future-state vision not only speeds delivery; it helps stakeholder collaboration and extends the strategic conversations you are able to have—all without losing focus on your day job.

The excerpt was taken from “KPMG Thought Leadership, Consumers and the New Reality.” © 2020 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. Printed in the Philippines.

For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

that government released in the same month a year ago.

The national government gives subsidies to GOCCs either to cover operations that are not supported by corporate revenues or to fund specific programs or projects.

For January to August this year, the bulk or 52.6 percent of the subsidies went to major non-financial government corporations, amounting to P101.229 billion, while the remaining 47.4 percent or P91.224 billion was given to other stateowned firms.

Recipients

Topping the list of firms that received the biggest subsidies is staterun Social Security System (SSS) with P51 billion due to the Small Business Wage Subsidy Program implemented by the government to help workers of small- and medium-enterprises cope with the impact of lockdown

measures on the economy.

Next to SSS was the National Food Authority that received P37.650 billion followed by the Philippine Health Insurance Corp. with P30.302 billion, the National Irrigation Administration (NIA) with P22.350 billion and the National Housing Authority with P17.740 billion.

Of the total subsidies extended by the government for August this year, 52.25 percent or P2.606 billion went to major non-financial government corporations, particularly the NIA, while 20 other government corporations took their share from the remaining 47.75 percent or P2.382 billion.

Trailing NIA in the list of GOCCs with the biggest subsidies for the month was the Philippine Crop Insurance Corp. with P1.32 billion and the Small Business Corp. with P500 million.

SC asked to penalize UCPB, execs for ‘defying’ ruling

By Joel R. San Juan @jrsanjuan1573

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FTER losing a legal battle over a 44-hectare mortgaged property in Ilayang Dupay, Lucena City, officials of the United Coconut Planters Bank (UCPB) and the Asset Pool A (SPVAMC) Inc. are now facing possible sanctions after businessman Felix Chua filed a petition seeking to cite them for contempt.

Chua named the UCPB officials as the following: Officer in Charge Ludivino S. Geron; lawyer Ismael Andrew P. Isip; and, Asset Pool A (SPV-AMC), represented by its President Siu Hung Hung and lawyer Hortensio G. Domingo.

Chua said the petition was filed under Rule 71 of the Rules of Court, on the basis “of the respondents disregard to the Supreme Court’s final ruling and entry of judgment and for resorting to dilatory tactics to prolong and revive their case, which the Court had already ruled on with finality.”

“All of the respondents’ motions that had been denied, noted without action or expunged by the Honorable Court prayed that the implementation of the final and executory decision be restrained, enjoined and/or nullified raising the same-old arguments that had long been denied by the Honorable Court,” the businessman said. “In a manner of speaking, respondents are fielding the same dog but decorating it with different dollars.”

Chua said the Court should cite the respondents in contempt and penalize them with imprisonment and fine “in order to preserve the orderly administration of justice and litigants’ respect for the High Court’s dignity.”

The controversy stemmed when the SC’s Third Division issued a decision in August 16, 2017, that reversed the Court of Appeals decision, which favored UCPB. The case involve the mortgage of Revere Realty and Development Corp.

(RRDC)—owned by businessman Jose Go—in UCPB over properties in Lucena City belonging to spouses Felix and Carmen Chua with whom he had a joint venture that did not materialize.

Records showed that in 1997, Go and the Chuas had entered into a joint venture to develop the Ilayang Dupay property into a subdivision.

The project didn’t push through.

Despite this, several deeds of absolute sale were executed putting the lands in Revere’s name to hold in trust for the Chuas.

In the meantime, the Chuas

executed a mortgage with UCPB to secure their personal loans and corporate obligations for the Lucena Grand Central Terminal Inc. Unknown to the Chuas, Go and RRDC also took out a mortgage over the properties.

When the land was foreclosed, the Chuas were prompted to ask UCPB to apply the proceeds only to their obligations and not Go’s.

Chua said the bank did not heed the request, prompting them to seek redress from the courts.

In reversing the CA decision, the SC Third Division reinstated the ruling of the Regional Trial Court of Lucena City declaring that the loan obligations of the Chuas were fully paid. The RTC added that asking for more from the Chuas would result to “unjust enrichment.”

No further pleadings

Prior to this, the respondents filed its first motion for reconsideration of the August 16, 2017 decision penned by then Chief Justice Lucas P. Bersamin on December 17, 2018.

On July 24, 2019, the Court ruled that no further pleadings, motions or letters or other communications would be entertained in connection with the case.

However, the respondents apparently filed a third motion for reconsideration (MR) as the Court’s Special Third Division issued another resolution on January 29, 2020, ordering to expunge from the records of the case the joint third motion for reconsideration of UCPB and Asset Pool A for being a prohibited pleading.

Chua said UCPB and Asset Pool A still continued to ignore the SC when it filed a fourth MR on June 16, 2020, in a bid to revive the case by asking for the issuance of a temporary restraining order and/or status quo ante order to stop the execution of the August 2017 decision.

The SC ruled that the case is already final and executory and the entry of judgment was already issued. Thus, no further pleadings shall be entertained and any reconsideration made must be removed from the records of the case.

“All these, singly or collectively, constitute contumacious defiance of the authority of this Honorable Court and impede the speedy administration of justice,” Chua said in his petition. “The defiance is all too willful and deliberate as to amount to an assault to the competence and integrity of the magistrates that comprise the Highest Court of the land.”

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Monday, October 5, 2020 • Editor: Gerard S. Ramos

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Hermes plays with depth in surrealist Paris show DEPTH was the key theme for minimalist designer Nadège Vanhee-Cybulski’s Spring-Summer 2021 collection for Hermes. AP

BY THOMAS ADAMSON The Associated Press

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ARIS—Hermes headlined Saturday’s installment of Paris Fashion Week with a cinematic, surrealist runway staging, but the lack of celebrities attending and the patchy drizzle put a slight dampener on the usually high-octane events.

Like Milan before it, Paris is undertaking an unusual fashion season for Spring-Summer 2021 because of the coronavirus pandemic. The nine-day calendar is flitting between 16 readyto-wear runway collections with masked guests in seated rows, 20 inperson presentations and several dozen completely digital shows streamed online with promotional videos.

Some of Saturday’s highlights: ■ HERMES. Prints of GrecoRoman goddess sculptures adorned columns marking out Hermes’ labyrinthine show, while mirrors around the set reflected parts of their marble limbs. The creative presentation referenced surrealists Salvador Dali and Jean Cocteau, evoking a sense of magic, mystery and depth.

Depth was indeed the key theme for minimalist designer Nadège Vanhee-Cybulski, but the magic and mystery were sometimes missing in the clothes.

Shimmering metallic mesh came as an outer layer on pared-down undergarments in dark and muted hues.

In one LWD (Little White Dress), the gold meshing resembled kinky chainmail and felt very

1990s. Elsewhere, the play on depth continued as the sides were scooped out of an ethnic-looking brown dress to expose the model’s skin.

It was, on the whole, a low-energy collection. Still, individual garments were high in sophistication, especially those with layered paneling. One coat in

old rose had a chic rolled-up collar that riffed on aviation attire.

■ ALTUZARRA IS SOPHISTICATED. Tailoring, ruching, draping and layering were the winning formula for Paris-born designer Joseph Altuzarra in his refinedlooking Spring-Summer fare.

A Chinese white tunic-gown that was loose and open-necked had an angelic quality. Delicacy was in evidence in the minimalist black cord that tied the garment’s waist.

A gathered gown in camouflage green had sweeping panels of gathered fabric at the skirt that evoked a goddess in the wind. It was, the house said following the show, inspired by the windswept sci-fi movie Dune. The best looks were also ones in which the designer, who has a Chinese, American and French background, mixed up cultural references.

A silver Western trench coat was fashioned in voluminous proportions and layers, and its lower part had the feel of a Samurai hakama (skirt-like pants) with an Obi belt.

Altuzarra has shown versatility in his over 10 years of collections that have switched from the bright and joyful, to more refined and couture-infused, designs. On Saturday, it was a mixture of both.

■ VIVIENNE WESTWOOD. Andreas Kronthaler got saucy dressing up his partner, fashion icon Vivienne Westwood, in bright red fishnet stockings and champagne pink satin stilettos as she did a turn as a model. Hair sprayed back in a bouffant and wearing a loose red check dress and a large black-gold chain, the 79-year-old Westwood looked free, glamorous and empowered.

The rest of the collection continued with the themes from this first look: loose silhouettes, red check and lashings of chain. As ever with Kronthaler, the references in the style mix were dizzying. One androgynous model held a giant retro boombox.

Westwood modeled again in a rather wacky but regal-looking thick trapeze-shaped gown in pale yellow. It looked as if the wardrobes of Marie Antoinette and the late Queen Mother of Britain had cross-pollinated. ■

LACOSTE TEAMS UP WITH CHINATOWN MARKET STRAIGHT from the West Coast of the United States, Chinatown Market arrives around these parts to shake up Lacoste’s edgy style with a new collaboration. With its casual nostalgic touch, it injects a dose of unique boldness and streetwear flair to the crocodile brand’s most creative line.

Chinatown Market launched in 2016 with just a few shirts at ComplexCon. Since then, the brand has become a leader in the sportswear/streetwear world known for its nostalgic and fun products ranging from T-shirts and fleece to basketballs, rugs, collectibles and DIY kits. The brand has also made a name for

itself as a leader in content and activations which bring consumers into their everyday world—this includes everything from teaching consumers how to tie-dye or screen print all the way to vintage sourcing in communities around the world.

Along the way, the brand has built one of the most engaged social followings in the clothing world and picked up devoted fans ranging from Jay-Z to Erykah Badu to LeBron James. The brand is no stranger to Lacoste with an already iconic collaboration which happened at 2018’s Hypefest where fans worked with the CTM team on the ground customizing

air-brushed polos.

For Lacoste (www.lacoste.com. ph), Chinatown Market invents a fierce crocodile in an XXL-version on a T-shirt, or embroidered in different colors on sweatshirts and caps. Between the sugary colors of a polo shirt and the pavement black of a hoodie, the result is as hype as it is unexpected. A nod to its soaring digital rise and its ironic creations, Chinatown Market seals this collaboration with a globe motif featured on short-sleeve shirts. They’ve got the whole world in their hands.

The Chinatown Market x Lacoste collection is available exclusively at www.lacoste.com.ph.

A beauty brand endorsement for Park Seo-joon ACTOR Park Seo-joon is one of the most popular Korean celebrities in the Philippines.

THE biggest news last week in my beauty universe is the announcement of BYS Philippines that Korean actor Park Seo-joon is their new endorser.

The announcement was made to mark the Australian beauty brand’s eighth year in the country.

If you have any interest at all in Korean culture, you’d know who Park Seo-joon is. He is the tall and dashing leading man in popular dramas, like Fight For My Way, Hwarang, Itaewon Class and What’s Wrong With Secretary Kim? Park Seo-joon has also made his mark in films, like The Beauty Inside, Midnight Runners and The Divine Fury.

I remember that he was a cast member of the variety show Youn’s Kitchen in 2018. One of the guests in the restaurant (which was located in Spain) looked up Park Seojoon, who was a waiter in the show, on the Internet and he was shocked that the Korean actor had millions of followers on Instagram. I remember the guest telling his companion that PSJ had more followers than his favorite football player.

Park Seo-joon now has over 15 million followers on Instagram and a Gold Play button from YouTube, which means that he has surpassed 1 million subscribers.

In Korea, a male celebrity endorsing a beauty brand is nothing new but here, it’s still a novelty.

“BYS has always prided itself on being a relevant brand.

Since Hhallyu is at its peak, we’ve chosen one of the biggest K-drama stars to be the cheerleader of the brand and encourage women to ‘Be the Extra in the Ordinary,’” said

Angie Goyena of BYS Philippines.

As a celebrity, Park Seo-joon is known for being a gentleman and the ultimate professional. He is also a compassionate individual who has made cash and talent donations to his country’s efforts to fight Covid-19. Being professional, on-trend, accessible and customer-oriented are values which BYS Philippines believes in. The beauty brand has remained consistent in creating innovative products and collaborations, which its growing consumer base considers as tools for self-expression.

The partnership with Park Seo-joon promises exciting and extra things lined up in the next few months. I’ve been told that BYS is coming up with PSJ-themed products, which is a really good idea. If there is anything that fans of Korean stars look for, it’s always merchandise.

“I believe the products of BYS Philippines can help you express and bring out your best selves, and allow you to move ahead and Be the Extra in the Ordinary. Extraordinary starts with you and I’m here to cheer you on,” said the Korean actor. After all, the difference between ordinary and extraordinary is that little “extra.” So go ahead—curl your lashes, work in that highlighter, and wear your boldest lipstick.

BYS is available at Watsons and The SM Store, and online on Amorfia and Lazada.

THE POWER OF NATURE I HAVE to admit that the concept of self-care brings about feelings of guilt. There is a pandemic and people are dying while I talk about

things as frivolous as self-care. For me though, self-care is survival. My skin-care routine is one of the things that has kept me calm and grounded in this pandemic. For other people, it’s yoga. For some, it is baking. For others, it’s Marie Kondo-ing. For me, it’s my skin-care routine.

This routine is something I look forward to twice a day. This and the two showers I take daily are things that are regular and “normal” in these times.

Sometimes, I don’t eat proper meals but I will most definitely take a shower and do my skin-care routine. Sometimes, I will apply on a bit of makeup but mostly, it’s just skin care.

I’m a bit of a skin care and makeup snob in that I hardly use drugstore products. I have this belief that for something to work on my skin, it has to be expensive.

Disclaimer: I get a lot of press samples because of my job.

But I’m willing to try anything in the name of beauty, and the Greek brand Bioten is one of them.

Bioten is from a Greek company called Sarantis and the brand DNA is using mostly natural ingredients, doing away with some oft-used chemical compounds and using recyclable and partly recycled packaging. We got to “meet” some of the Greek principals during the brand’s virtual launch in the Philippines and one of them was Kelly Erripi, head of the skin-care category.

Erripi said all Bioten products, from the carton packaging to the jars and bottles, contain information about how much of it comes from “ingredients of natural origin” and that the main ingredients are acquired sustainably.

The glass jars, she added, were made from 30 percent recycled material and the

boxes were crafted from paper obtained through responsible sources. The products are also vegan-friendly.

Erripi said Bioten was in constant search of natural ingredients to use for its products. The Skin Moisture Dry/ Sensitive Skin range or the “Pink Line” has ingredients that include the highly prized spice saffron, which is a good skin-care ingredient for dry and sensitive skin. Saffron has high concentrations of vitamins and minerals, and is rich in antioxidants that help skin cope with internal and external aggressors.

The “Pink Line” includes a micellar water cleanser (P349 per 400 ml, P99 per 100 ml), a cleansing milk (P349 per 200 ml) and a face cream (P349 per 50 ml). The Skin Moisture range or “Green Line” for normal/combination skin, meanwhile, has quince, a type of lime, as a main ingredient for its moisturizing properties. The line includes a micellar water cleanser (P349 per 400 ml, P99 per 100 ml), a cleansing gel (P349 per 200 ml) and a face cream (P349 per 50 ml).

Erripi said quince also helps regulate sebum secretion and is also ideal for those with oily skin. I’ve included the prices of the products (which are available at Watsons and The SM Store, and on Lazada and Amorfia) for reference. Products from the Pink and Green lines have prebiotics and are suitable for ages 20 to 35. What I have been using for around two weeks now is the Hyaluronic Gold Replumping Antiwrinkle Night Cream. I looked this up on Lazada and it was more than twice the prices of the creams from the Green and Pink lines.

The night cream, according to Bioten has “three types of hyaluronic acid, 30 million hyaluronic capsules and Golden Proteins that enhance your skin.”

I use the Bioten Hyaluronic Gold Replumping Antiwrinkle Night Cream over NIOD RE: Pigment and The Ordinary Marine Hyaluronic. I love all how Bioten works with the two other products. I do wake up to well-moisturized skin and the dry patches on my cheeks and forehead have disappeared. For reference, my skin is normal-combination. I also have the day cream of this, which I have not tried yet.

My friend said Bioten’s micellar waters are also musttries. I’m very excited to explore the brand further.

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Monday, July 13, 2020 B Monday, October 5, 2020 b5

Quantify your company’s impact on people

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By Caroline Rees and Robert G. Eccles

Efforts are already underway to develop a single, coherent reporting system that would allow investors and other stakeholders to assess a company’s impact on the environment. These efforts are worthy: We need less competition and choice in what companies report regarding their impact on the world, and more clarity and consistency so better decisions can be made by managers and investors alike. However—and this caveat matters—we must balance the enthusiasm for this ambition with attention to an important reality: When it comes to measuring the effects company operations have on people, there has been far less scrutiny, standardization and innovation.

In 2018, Shift, a nonprofit dedicated to promoting the UN Guiding Principles on Business and Human Rights that one of us (Caroline) co-founded in 2011, reviewed the social indicators and metrics in the reporting of nearly 500 companies and in 8 major environmental, social and governance rankings, ratings and bench marks.

What we found was revealing: Around 70 percent of the indicators were based on words in documents, stated activities and their near-term outputs. For example, they looked at whether certain human rights were named in policies, the number of impact assessments completed and the number of complaints received.

These can all be useful to managers seeking to raise awareness of issues and build good practices inside a company.

Moreover, the absence of policies related to human rights and grievance mechanisms can be an indicator of a company that is failing to recognize and address its risks to people. However, the presence of these things doesn’t reveal whether a company is managing those risks effectively.

Research has shown the inadequacy of relying on social audit data as a metric of progress in improving the daily realities of vulnerable workers. Moreover, certain metrics can mislead. In some situations, a high number of complaints can be a good sign that people feel comfortable raising concerns, while a low number may signal a lack of trust in leadership’s willingness to address the issues, rather than a lack of problems.

The other 30 percent of the indicators we reviewed were about outcomes for people, which might seem like a promising proportion. Closer scrutiny showed that that segment was dominated by well-established types of data about health, safety and diversity. Both are important reflections of a company’s impact on its work force’s well-being. However, such indicators are often narrowly focused on the work force and do not offer a wider understanding of how a business may affect people within and beyond the workplace.

As we now turn to the important task of building a coherent corporate reporting system that addresses the effects that businesses have on people and the planet, we must not confuse the availability of metrics with their capability to provide insight.

Instead, we need a threefold approach that captures what works, discards what doesn’t and dares to think differently about how to address the gaps.

First, we can and should recognize those metrics that have proved to be sound indicators of how companies treat people. Even if not perfect, they can help company managers, investors and others assess how well a business is embedding respect for people in its structures.

In addition to certain data on health, safety and work force diversity, examples

www.freepik.com

he Covid-19 pandemic has thrust into the limelight the far-reaching effects that business has on vulnerable people in work forces and communities across the world, putting the imperative of tackling inequalities on a political par with climate change. What will this mean in practice?

include measures of freedom of association, proportions of the work force that are employed rather than on temporary or limited-hour contracts and ratios of CEO to median-worker pay, as well as data on gender and race pay gaps.

Second, we should pay attention to indicators showing whether a company’s business model, governance and leadership are designed to function in a way that is respectful of people’s human rights. When risks to people are embedded into a business model, it’s likely that people will be hurt—again and again. Similarly, when the actions of the board and a company’s leaders are not geared toward fostering a culture that treats people with respect, it is predictable that vulnerable workers, communities or customers will suffer negative consequences.

Shift is now stress-testing a set of business-model red flags and leadership and governance indicators that point to whether a company’s culture is fostering respect for people inside and outside the work force. We have developed these over two years of consultation with business, investors, civil society leaders and other experts. Indicators like these should be a

valuable addition to the human-focused provisions of a corporate accounting and reporting system.

Third, when it comes to those areas for which current indicators are known to be inadequate, we should not assume that “something is better than nothing.” For instance, measuring the proportion of a supply chain at risk of forced labor or child labor offers little insight into whether or how that company’s actions and decisions are affecting outcomes for the people concerned. Nor do those numbers enable comparison between companies since they lack meaning without context. Moreover, inadequate metrics can generate perverse incentives not to find problems or not to label them in terms that would require disclosure. This undermines the very behaviors we need to encourage if we are to make progress.

We must dare to create the space to learn what’s truly effective in improving people’s lives. A coherent reporting system could promote clear and robust criteria for companies to develop targets and indicators that are tailored to their operating realities. Such targets should be time-bound, tied to specific improved

outcomes for people affected by the business, capable of evidence-based evaluation and informed by inputs from all stakeholders.

As companies report against their targets, based on clear evidence, shareholders, employees, nonprofits and other stakeholders can then assess year-on-year progress.

Investors will be better positioned to identify and reward companies that are taking meaningful action. And it will be possible to compare company trajectories without pretending their operating contexts are the same.

When it comes to the effects of business over people and the world, we need new thinking and new approaches. Let us move fast—time is pressing and this opportunity will not repeat itself. But let us also move wisely, informed by the errors of the past, so we can construct systems that are up to the task of reversing today’s unsustainable inequalities.

Caroline Rees is the president and co-founder of Shift. Robert G. Eccles is a visiting professor of management practice at Saïd Business School, Oxford University, and a senior adviser to the Boston Consulting Group.

When Business as Usual Isn’t Working, Look to Nonprofits for Inspiration

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Shameen Prashantham

n the Covid-19 era, businesses must—and will—play an essential role in how countries respond to the hardships created by the pandemic. But to do so, they must also recognize how the ground has shifted under them: Inclusivity is more important than ever; there’s pressure on leaders to weigh social outcomes, as well as economic ones; and resources for achieving all of this are scarcer than usual. Existing approaches may not be sufficient to meet the challenge.

The business world should look to nonprofits for fresh ideas. As Peter Drucker, the management legend, noted, nonprofits can be an unorthodox but powerful source of inspiration for business. This seems especially true in the wake of Covid-19, as key stakeholders and customers face economic distress—a situation that many nonprofits routinely deal with.

I was reminded of this during the early days of the pandemic, when travel restrictions prevented me from returning to China and I found myself stuck in my hometown of Vellore, India. The city also happens to be the headquarters for the Christian Medical College, or CMC, Hospital, whose pioneering medical work over several decades has greatly improved local citizens’ well-being, with a focus on high-quality care in poor communities.

Founded in 1900 by Dr. Ida S. Scudder to compassionately serve local women and children in need, it has grown into

a large multispecialty hospital with a top-ranked medical college, and has spawned and inspired an ecosystem of nonprofits in Vellore covering areas as diverse as leprosy treatment, counseling and community education. Along the way, CMC has become a pioneer in community health.

What makes the institution’s work particularly relevant to business leaders, though, is how it has succeeded within the constraints of dealing with: n the complex process of inclusivity in a society with high levels of gender, caste and economic inequality; n the tension between maintaining a high quality of service and affordability; n the severe resource constraints of a nonprofit organization.

After interviewing various current and retired leaders, faculty and associates of CMC—in particular, at its Community Health and Development, or CHAD, department — I identified three interrelated strategies that are relevant to businesses seeking to add societal value in the Covid-19 era. The key to CMC’s community health success lies in the interconnectedness of these strategies, rather than on any single factor in isolation.

1. Pursue intermediate goals to achieve the ultimate agenda

A key lesson from CMC’s experience is that it may be necessary to pursue an intermediate goal in order to address your ultimate one. Specifically, in order to get villagers to engage in health interven-

tions, the felt need of the village communities for jobs and paychecks had to be addressed first. This required skillful engagement with stakeholders.

Dr. Abraham Joseph, who spearheaded CHAD’s development for three decades, had to convince his parent hospital and medical college that a jobs program served the hospital’s goals, and get the buy-in of external stakeholders, such as village elders and the local government, without which the interventions would have failed. With stakeholder buyin, CHAD introduced skill-development programs (e.g., in masonry, welding and weaving), and economic opportunities improved.

2. Embrace contradictory demands

When seeking to offer inclusive solutions, organizations must inevitably deal with the tension between technical considerations and the reality that constituents’ affordability is limited.

Embracing the paradox of a “both/and leadership”—as opposed to an “either/ or” mindset—can help organizations navigate the challenge.

For CMC, the tension was between the need to be effective through high standards of rigor and affordable to the poor.

C.K. Prahalad, a University of Michigan professor who studied CMC in the early 1970s, noted that the dual imperative of “dedication to excellence and commitment to service” actually offered a solution: The high quality of care allowed CMC to charge wealthier patients enough to subsidize those who couldn’t pay.

For businesses in a post-Covid-19 world, embracing tensions might involve being less obsessed with beating rivals and more focused on brand values, high quality and greater inclusivity of services. This could take on forms such as rivals collaborating to accelerate the discovery of health care cures, or offering affordable business services and tools so that small business can continue to operate.

3. Decide what’s essential, and focus resources on that

Inevitably, a major challenge associated with offering inclusive solutions is that of operating in a resourceconstrained environment. To excel in such an environment, it’s essential to discern what adds value prudently and what doesn’t.

The ability to do more with less enabled CMC’s CHAD to provide high-quality service in communities with severe constraints on affordability. Indeed, a principle of austerity permeates the entire organization. This emphasis on frugality can lead to enterprising efforts to tap external resources. In CHAD’s case it meant turning to nonprofits like Christian Aid, an organization based in the UK that supported CMC’s socio-economic development activities, thus alleviating its financial burden.

Frugality can also be a trigger for creativity, leading to new ways to overcome resource constraints. One of CHAD’s early innovations was the identification and training of semiliterate rural women as

part-time community health workers.

While not all managers in for-profits will share the mindset of nonprofit professionals who are willing to work for modest salaries, they could explore how to offer parallel lines of low-cost variants or simplify their core offerings to enhance affordability for market segments that have been hit particularly hard by the economic fallout of Covid-19. Opting for fewer frills without sacrificing too much of an offering’s core efficacy can ensure that cash-strapped buyers aren’t excluded from the marketplace and businesses retain customers.

The strategies above are not novel in and of themselves, but when applied in a mutually reinforcing way, as CMC’s CHAD has done, they allow organizations to deliver inclusive services to the economically challenged. A common thread relates to building and leveraging network relationships—in particular, stakeholder collaboration.

In CHAD’s case, women who participated in the socio-economic activities became a “bridge” with a credible voice that helped increase the appeal of the health program to the rural community, and strengthened the work of the existing part-time community of health workers. For-profit businesses can draw inspiration from CMC, and emerge stronger and more focused from the pandemic.

Shameen Prashantham is a professor of international business and strategy at China Europe International Business School.

B6 Monday, October 5, 2020

Pagcor, FBM aid drivers in Paranaque and Pasay

Las Casas’ landscapes serve as perfect backdrop for shoot, wedding festivities

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LICHÉ as it sounds but marriage is indeed a life-changing commitment for two people. From the moment she says “yes” to the days leading to the big day, this entire journey is nothing but a roller coaster ride.

And every couple’s first challenge is planning their wedding.

This will test their commitment, patience, multi-tasking and will to compromise, not to mention setting a decent budget and sticking to it. But one doesn’t have to look from afar.

Situated within a 400-hectare property in the midst of Bagac, Bataan, Las Casas Filipinas de Acuzar is a fitting

place to embark on an exciting and delightful journey to happily ever-after.

Completed with breathtaking views featuring a unique collection of fine pre-colonial restored casas and heritage landscapes, this heritage site is a no-miss to couples looking for their “the one.”

With the pandemic calling for more intimate celebrations, fall in love with Las Casas even more with the brand’s impressive line-up of venue options, from its Sanctuario de San Jose for a church ceremony to its verdant greens for garden celebrations, flexible menu offers, and other banquet requirements.

For as low as PHP 175,000 nett, the

“Intimate Wedding” offer is a flexible option for a minimum of 20 guests.

This package is inclusive of set lunch or dinner with one round of coffee or tea, free-flowing iced tea, overnight accommodation for the lovely couple, complimentary set breakfast for two, one bottle of sparkling wine, threetiered wedding cake, special flower arrangement for head table, Las Casasinspired guest book and more.

What better way to document these tender moments before the big day than an engagement session that can easily capture the lovely couple in their element.

Rates starting at PHP 38,000, Las Casas’ “Picture Perfect” include shooting fee for any event, complimentary glam room until 6:00 PM, complimentary bottled water, use of “balsa” or native raft, access to Hotel de Oriente, access to about two featured show rooms, heavy snacks for ten and 30-minute use of kalesa.

Weddings, after all, only come once, and pulling out all the stops and defying odds are nothing for a special day especially when you are set to start a journey-of-a-lifetime.

Whether one opts for a posh wedding or a simpler and more intimate one, Las Casas Filipinas de Acuzar is the place to be.

For more information, visit www. lascasasfilipinas.com or follow Las Casas Filipinas de Acuzar on Facebook and Instagram.

SCG and Mariwasa donate mobile isolation rooms to 2 hospitals

TURNOVER ceremony at the Veterans Memorial Medical Center (left to right): Veterans Memorial Medical Center Medical Director, Dr. Dominador M. Chiong, Jr., Secretary of National Defense, Mr. Delfin Lorenzana, H.E. Vasin Ruangprateepsaeng, Ambassador of Royal Thai Embassy, and Ms. Emilie Maramag, SCG Philippines Asst. Country Director.

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S part of its commitment to give back to the community, Mariwasa Siam Ceramics, Inc., the leading tile manufacturing company in the Philippines, donated two units of Negative Pressure Mobile Isolation Rooms to the Veterans Medical Memorial Center on September 25 and another one unit to the Lung Center of the Philippines on September 30, respectively.

The SCG (Siam Cement Group) Mobile Isolation Rooms, which use a controlled air pressure system that can protect medical professionals from the risk of contracting the coronavirus disease, were turned over by H.E. Vasin Ruangprateepsaeng, Ambassador of Royal Thai Embassy, and Emilie Maramag, SCG Philippines Asst.

Country Director, to VMMC Medical Director Dr. Dominador M. Chiong, Jr., in simple ceremonies also attended by Secretary of National Defense, Delfin Negrillo Lorenzana.

Amb. Ruangprateepsaeng and Ms. Maramag also led the donation drive at the Lung Center of the Philippines with Dr. Sullian Sy Naval, LCP Deputy Executive Director for Medical

Services and Dr. Antonio Ramos, LCP Administrative Services Department Manager, receiving another unit of the Mobile Isolation Room.

The donation to the LCP was Mariwasa’s second to the hospital, with the first one turned over last June as part of the company’s continuing efforts to help in the fight against the dreaded coronavirus. In the same month, Mariwasa also donated one unit each of Negative Pressure Mobile Isolation Room to the Sta. Ana Hospital and Dr. Fabella Memorial Hospital, both in Manila.

In August 10, Mariwasa turned over a Positive Pressure Mobile Isolation Room to the City Government of Sto. Tomas in Batangas, represented by City Mayor Edna Sanchez and City Administrator Salvador Geling.

Humble contribution

“THE pandemic has brought the world to its knees, but humanity will eventually prevail, thanks to the joint efforts of everyone. This donation is SCG and Mariwasa’s humble contribution to that cause,” said Jakkrit Suwansilp, SCG Philippines Country

Director and Mariwasa President.

The Mobile Isolation Rooms are expected to serve as a decontamination area to ease the spread of COVID-19 virus in hospital facilities and are suitable for use in emergency rooms (COVID ICUs or PUI wards).

Catering to medical needs similar to permanent structures, the innovative equipment from Thailand can be installed quickly, equipped with a filter system that can effectively prevent the spread of viruses.

“I know that Thailand is not as badly stricken by the COVID-19 pandemic as we are and the gesture of donating the two negative pressure isolations rooms is really a classic example of that phrase “no one left behind.” Thank you so much on behalf of the Lung Center [of the Philippines] to the Thailand Government and Mariwasa Siam Ceramics, Inc.” said Dr. Naval.

Mariwasa's parent company, SCG, is the largest and oldest cement and building material company in Southeast Asia and Thailand, which has managed to contain the spread of the disease effectively.

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HOUSANDS of distressed jeepney drivers affected by the suspension of public transportation in Metro Manila received assistance from the team up of Philippine Amusement and Gaming Corporation (PAGCOR) and a global gaming brand.

FBM Gaming and Amusement Philippines, Inc., a digital platform that caters to the online gaming market, donated essential kits containing food, facemasks and alcohol gels to the jeepney drivers from Paranaque & Pasay.

The pandemic deprived the drivers of their income for months as strict quarantine protocols banned public utility vehicles services to prevent the further spread of COVID-19 infections.

FBM founder Rui Francisco said they were moved by the plight of the jeepney drivers since most of them have resorted to begging in the streets for survival.

“The jeepneys are one of the symbols of the Philippines’ culture and economy.

After realizing the tremendous effect of the pandemic on the jeepney drivers, we decided

to organize a donation distribution with PAGCOR to help them and their families."

During the commencement of the relief operations on September 29, 2020, a total of 600 essential kits were delivered to the San Dionisio Gym in Paranaque City.

The following day, PAGCOR Chairman and CEO Andrea Domingo graced the distribution of 1,200 essential kits to the jeepney drivers at the Philippine School for the Blind in Pasay City.

Domingo acknowledged the relief assistance extended by FBM to the transport sector despite suffering huge revenue losses due to strict gaming restrictions imposed by the government in quarantine-controlled areas.

“Even if the income of FBM suffered under the pandemic, they were able to jointly help us provide assistance to the drivers, who lost their income during the past seven months, she said in Pilipino.

Domingo added that the pandemic has affected PAGCOR’s revenue generation efforts, but the agency remains steadfast in its commitment to nation building.

Crown Asia Chemicals is Shariah-compliant

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HILIPPINE Stock Exchange (PSE)listed Crown Asia Chemicals Corporation is among the Shariahcompliant public firms retained for three consecutive years. A quarterly evaluation is made of Shariah-listed companies to ensure conformity to the Islamic Law and Finance standards aimed to encourage trade and investments.

Crown Asia Chemicals, PVC manufacturer of premium Crown compounds,

pipes and roofing, joins the latest list of 53 firms disclosed by PSE as of June 25, 2020.

A PSE memorandum was issued in April this year aimed at adjusting the standards for the evaluation of business conformity with Shariah principles and eliminating certain restrictions previously imposed.

Such measures have been taken to align Shariah guidelines with the Accounting and Auditing Organization for Islamic Financial Institutions Shariah Rulebook.

Biocon Biologics to Roll Out ‘Mission 10 cents’ in Philippines to enable patients affordable access to quality insulins

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IOCON Biologics India Ltd., a fully integrated ‘pure play’ biosimilars company, headquartered in Bangalore, India and a subsidiary of Biocon Ltd. (BSE code: 532523, NSE: BIOCON), has signed a Memorandum of Understanding (MoU) with the governments of two municipalities in the Philippines and reach52 to enable affordable access to quality insulins in the country. Biocon has nearly two decades of experience in providing insulins and analogs to people with diabetes across the world. Its insulin glargine is commercialized in developed markets of US, Europe, Australia, and Japan. This is a part of Biocon Biologics’ commitment to unlock universal access to quality insulins through the ‘Mission 10 cents’ program by making recombinant human insulin (rh-insulin) available for less than 10 U.S. cents per day in low- and middle-income countries (LMICs).

The project, which will commence in the municipalities of Pototan and Cuartero in the provinces of Iloilo and Capiz, respectively, will aim to develop a scalable framework to strengthen access to timely, affordable and quality diabetes care at the municipal level in the Philippines to ensure better patient outcomes and reduced cost of care.

Through 'Mission 10 Cents,’ Biocon Biologics aims to implement a continuum of care model encompassing a diabetes patient’s journey from awareness to early diagnosis and treatment. This patientcentric model seeks to decentralize diabetes care via task shifting programs to bring prevention and care closer to where people live. It envisages insulinization of patients with regular blood glucose monitoring through an endto-end information system connecting the patient and clinician for effective disease management. The aim is to go beyond the product to help transform the patient ecosystem and touch the lives of millions of people with diabetes in the Philippines.

Dr. Christiane Hamacher, CEO, Biocon Biologics, said: “As a committed global insulins player, Biocon Biologics seeks to shift the access paradigm for patients in need of quality insulins across the globe through its 'Mission 10 cents' program.

We are pleased to partner with the Philippines government for a long-term, integrated diabetes management program enabling affordable access for patients.

This initiative is a part of our larger commitment to support low and middleincome countries build a sustainable healthcare ecosystem that enables equitable access to insulins. We aspire to co-create with our partners a patient ecosystem that goes beyond the product to transform the lives of millions of diabetes patients globally.”

Dr Alexander Zach, Global Head of Market Access & Policy, Biocon Biologics, said: “Biocon Biologics is extremely proud to collaborate with the Municipalities of Pototan and Cuartero, Philippines, along with our social enterprise partner, reach52, to realize our common vision of expanding universal access to quality diabetes care and promoting overall patient well-being.

Mission 10 cents is not only about offering Biocon’s rh-insulin at a lower price but it is a partnership with diverse stakeholders that goes beyond the product to transform the patient ecosystem and contribute to achieving better health outcomes and reduce cost of care for millions of people living with diabetes in the Philippines.”

Mayor Rafael Enrique P. Lazaro, Municipality of Pototan, said: “We are excited to work with both reach52 and Biocon Biologics on this program. Diabetes is one of the fastest growing diseases in the Philippines, affecting everyone from all walks of life. It is my firm belief that a strong symbiotic partnership amongst Government Offices, Non-profit Organizations and Private Corporations is essential to combat whatever obstacles we may face in the future.”

Mayor Tito L. Mayo, Municipality of Cuartero, said: “Capiz is a fourth-class Municipality, with many of our residents living in upland Barangays, far from the rural health unit. Diabetes is still a challenge for them too, and we need innovative partnerships like this one with reach52 and Biocon Biologics to serve everyone in Cuartero with essential health services.”

Mr. Edward Booty, CEO, reach52, said: “We have worked with the governments for this program for over three years now. I have always been inspired by their leadership and drive to serve their communities better and think of new ways to work with private sector and other organisations to do so. With diabetes being one of the most worrying and growing global diseases, our role at reach52 is to find partnerships to help create health for all."

Biocon Biologics is currently engaging with several governments in Southeast Asia, Africa, Middle East and the Caribbean to explore ways to disintermediate the supply of insulin, and to make sure that insulin pricing does not become a constraint to the well-being of individuals and communities affected by diabetes.

Rapid urbanization, changing lifestyles and sub-optimal dietary habits are driving the incidence of diabetes in the Philippines leading to an increasing economic burden. In 2013, diabetes was reported to be the sixth leading cause of death among Filipinos (Source-Philippine Health Statistics, Department of Health, Philippines).

Marketing BusinessMirror

www.businessmirror.com.ph

Monday, October 5, 2020 B7

Bridging the empathy gap T

PR Matters

By Abigail Ho-Torres

Events: Advertising Week APAC returns with FREE access to industry’s biggest virtual marketing event SINGAPORE—Advertising Week APAC is returning with a free day of live-streamed content featuring the best insights from Advertising Week New York and Europe, as well as fresh sessions from local talent.

The industry is invited to tune in for free on Wednesday, October 14, to hear exclusive insights from top names including: n An Exclusive interview with cricket icon Shane Warne, who shares his observations and experience in working with brands, his colorful life on and off the pitch and cultivating his personal brand; n Kevin Hart, actor and founder of Laugh Out Loud on making and monetizing comedy content; n Netflix CMO Bozoma Saint John in conversation with rapper and actor LL Cool J on how to tap into culture;

HIS pandemic—and the fact that we’ve been pretty much holed up in our homes for more than six months now—seems to have brought out the best and the worst in people.

On one end of the spectrum, we’ve seen heroes emerge from the shadows: medical frontliners taking care of Covid-19-stricken patients, companies big and small lending a hand to the less fortunate, ordinary people doing whatever they can to help other people out.

On the other end, there have been some less-than-stellar examples of humanity: people dowsing a hospital worker with bleach, landlords kicking medical workers out of rented apartments, scammers going on all-out phishing sprees as more people move their transactions online.

According to award-winning actor Alan Alda, founder of Stony Brook University’s Alan Alda Center for Communicating Science, empathy seems to be in short supply among Americans these days—at a time when it is needed the most.

“The thing that worries me is that we seem to have a lowering of our compassion for one another—but not so much compassion as empathy.

And the way I think of empathy is not as compassion. Compassion is feeling sorry for somebody, to some extent, but empathy is getting a reading as well as you can of what they’re going through, what they may be suffering from. And that’s important to think about them as clearly as you think about yourself, and protecting them. But I think this pandemic is a real test of our empathy,” he said in an interview with NPR’s Lulu Garcia-Navarro last month.

And it looks like it’s not just Americans who seem to be lacking in empathy. Since the start of quarantine season in mid-March, we’ve heard some less-than-empathetic words from high-ranking officials and well-known personalities. From labeling as hard-headed the people who went out at the height of enhanced community quarantine to try to eke out a living, to telling people who couldn’t get a ride to work to just walk, to accusing our medical workers of being whiny and not doing a good enough job—the list goes on and on.

Some may say, hey, those are just words. “Sticks and stones may break my bones, but words will never hurt me,” an old nursery rhyme goes.

But, as PR practitioners, we are well aware of the power that words yield.

We make our living primarily with words, after all.

n Gary Vaynerchuk on consumer shifts which will continue post-Covid ; n Richard Curtis, director and co-founder of Comic Relief on the future of social good; n Actress Jennifer Garner on building her Once Upon a Farm business through community; n Musician Jason Derulo shares secrets on monetising his 36 million TikTok followers.

The day-long live stream will be hosted by TRIBE founder Jules Lund and feature a distillation of the 500+ sessions on offer at the virtual Advertising Week New York and Europe, which is taking place from September 29 to October 8.

Registered attendees will also be able to access all the sessions from the world’s largest ever virtual marketing conference for free until the end of October.

Other topics being drilled into on the day include diversity, female leadership, mental health, disrupting bias and unlocking your creative community.

Director of Advertising Week APAC Clive Prosser says he is thrilled the APAC industry is able to access this exclusive content for free. “Let’s face it, 2020 has been a hell of a year for everyone. So, in the spirit of helping to move the industry forward,

platforms for the brand’s message.

This assessment “should also be used to question the brand’s intentions, in order to create the most effective message.”

“We should engage in empathetic behavior both on and offline. Even online we should study our intended audience in regards to how an audience perceives information, and cater language, emotions, and format to fit with their perceptions,” the study further said.

Empathy in deeds

The power of empathetic communication

Contrary to what the popular nursery rhyme says, words have the power to make or break. This is precisely why we prepare talking points and do pre-interview briefings before facing the media, and also why we carefully, painstakingly craft appropriate messages for our different audiences.

With a health crisis as big as the one we’re facing now, the value of proper word choices, which can very well stem from an exercise of empathy, may spell the difference between a flattened Covid-19 curve and an out-of-control spread of the virus.

Alda placed particular importance on empathy in the field of science communication, which is mostly what Covid-19 communication is about, as it is usually difficult to laymanize highly technical concepts from scientific fields.

“Effective science communication happens when we listen and connect. It happens when we use empathy. Communication is headed for success when we pay more attention to what the other person is understanding, rather than focusing solely on what we want to say,” he

we’re delighted to be able to open up this slate of megastars to the entire industry for free. We saw from the massive response to our virtual Advertising Week JAPAC event earlier this year the hunger is there in the region for thought-leadership, and the power of the Advertising Week brand means we can offer up speakers and insights you simply won’t get at any other event.”

Campaign Spotlight: ‘Taming Giants,’ extreme trail run to scale Mont Blanc stars in thrilling animated film for Swiss running brand On

ZURICH, SWITZERLAND—A romantic couple, as well as trail running partners, Katie Schide and Germain Grangier spend an extreme 42 hours in the Alps to finish an epic journey. Their sheer determination shines through as they travel over 188 kilometers and accumulate approximately 14,000 meters of elevation over two summits of more than 4,000m in height. This real-life adventure is captured in a mix of film and animation with additional footage shot by the couple themselves during their heroic expedition.

Their venture commands more than sporting prowess and perseverance—but also a deep under-

was quoted as saying on the website of the Alda Center.

Among the benefits of effective science communication are sound government policies and directives, and more informed decisions for our families and for ourselves—both very important during a pandemic.

Empathy in the digital age

In 2016, UK-based agency Stir Public Relations partnered with cognitive neuroscience research lab THECUBE for a study titled “To be Human is to Communicate: The Change in Information Consumption in the Digital Era.” It aimed to break down the cognitive mechanisms involved in human communication, to better understand how to get messages across to the right people, especially at a time when audiences are bombarded with so much information on digital platforms.

“PR has human-to-human communication at its core. It could be described as the purist of the marketing disciplines. When we communicate with people on a day-today basis, it is an innate cognitive process. But what if we were to look consciously at this process, break it down, understand its different elements, and then apply it to our

standing and utmost respect for the mountains and glaciers they encounter during this grueling exploration across one of the highest mountain ranges in the world.

This gallant expedition and compelling paradox between two people in love with each other and with the mountains is depicted in Taming Giants which goes live today and is produced by On, Studio AKA and creative director, Simon Brotherson, released at on-running.com/ taming-giants. As the first animated production by the Swiss sportswear company, the imaginative film tells the tale of determination to succeed and respect for nature.

Depicting the mountains themselves as giants watching over those who dare to enter their kingdom with challenging eyes. However as the couple prove their expertise, determination and reverence, the mountain giants drop their guard and become friends.

“This has become the ultimate adventure, resulting in a mammoth achievement by two of the most determined ultra athletes in the world,” says Feliciano Robayna, head of Sports Marketing, On. “Katie and Germain have a deep respect and understanding of mountain landscapes, having both studied geology, and the nature

communication approach as a PR industry? Through this research, that is just what we have done. We believe it will increase the impact of brand messaging,” the study stated.

According to the study, the cognitive mechanisms involved in human communication include empathy, language and narrative, attention, and memory. Empathy and the Theory of Mind are the elements to consider during the communication planning stage.

Empathy allows us to understand and respond to how another person is feeling, while Theory of Mind refers to our mental capacity to relate our mental states—or thoughts, knowledge, beliefs, emotions, and desires—with those of other people.

So how is this relevant to PR? According to the study, the PR team must exercise empathy when planning their communication strategy, particularly in choosing the appropriate media outlets where they will air their brand’s message.

They should ask themselves how consumers should best receive their brand’s information.

On Theory of Mind, the PR team has to evaluate the beliefs, emotions, and desires of the consumer so they can evaluate the best media

that surrounds them. The time devoted to preparing and planning their journey shows the enduring commitment they have towards accomplishing each project with extreme efficiency. We have commissioned a creative adaptation of their story into our own version of events through imaginative animation—our first production of its kind. Taming Giants is also a film about two talented and competitive athletes, doing what they do best, challenging themselves and pushing their ability to the absolute limits.”

Director Manddy Wyckens of London’s Studio AKA created the animation drawing inspiration from the graphic style of 1920’s travel posters.

“We took a live-action mountaineering challenge and reinterpreted it by adding magical elements to translate the danger, hardships, and the immense forces of nature at play,” says Manddy Wyckens, animation director. “To do so, we created a very minimal design, a palette in shades of blue and an immense landscape to immerse the viewer within the mountain’s atmosphere.”

As ultra athletes in the world of trail running (both top 10 UTMB contenders in 2019) Katie and Germain were eager to combine mountaineering with their love for trail running. Their latest project had been in develop-

In Stanford University, researcher and associate professor in psychology Jamil Zaki teaches a class called “Becoming Kinder.” A new assignment is given to the students every week, and they have to report back with the results. For some students, the results have been life-changing.

Interviewed by writer Kira Newman for an article published on the University of California Berkeley’s Greater Good Magazine, he related that following the completion of one particular homework challenge, one of his students’ relationship dynamics with her sister significantly improved, coming from years of resentment for each other.

The weekly challenges he gave his students, he said in the article, were meant to “push [them] beyond their comfort zones, and help them connect with people in ways they might never have.”

He noted that based on his research, empathy wasn’t a fixed trait, but something that can be learned and built.

“The message of my work and other people’s work in the field is not that empathy is easy or that it’s supposed to be easy, or that if you feel a moment of anger, even hatred, or disconnection that that makes you a bad person,” he related.

“The message is that this is an ongoing project that all of us are taking part in to decide and shape who we want to be.”

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world.

Abigail L. Ho-Torres is AVP and Head of Advocacy and Marketing of Maynilad Water Services Inc. She spent more than a decade as a business journalist before making the leap to the corporate world.

We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.

ment for some time, requiring several months of logistical planning and preparation. But as any climber will tell you, while breathtakingly beautiful and awe-inspiring, mountains can also be cruel and unforgiving, unless you treat nature’s most arduous landscape with reverence, whereby it will offer kindness and passage in return.

Setting out at dawn in Cervinia, Italy, Katie and Germain begin their journey by climbing the Breithorn, a summit over 4,000m on the border between Switzerland and Italy. After spending the night at the beautiful Schönbielhütte (Schönbiel Hut), they depart for a 120km passage on the famous Glacier Haute Route, stretching from Zermatt in Switzerland, to Chamonix in France. Forced to take refuge from the weather in Chamonix, they complete their trip by climbing the Mont Blanc in less than 12 hours.

“With most of the events cancelled this year, this project was a good opportunity to go back to the roots of what we love most: spending long days moving through the mountains,” says Katie.

For further insight into the story of Katie and Germain’s adventure across the Alps and to watch the release of Taming Giants on September 29th, visit on-running.com/taming-giants.

Sports BusinessMirror

B8 Monday, October 5, 2020

mirror_sports@yahoo.com.ph / Editor: Jun Lomibao

D.O.J. DOUBTS JURISDICTION OVER SORSOGON BUBBLE

By Joel R. San Juan

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@jrsanjuan1573

HE Department of Justice (DOJ) is still evaluating whether or not it has jurisdiction over the report submitted by the Commission on Higher Education (CHED) on the controversial “Sorsogon City Bubble” involving players of the University of Santo Tomas (UST) men’s basketball team.

Justice Secretary Menardo Guevarra said a resolution would be released if the CHED report warrants DOJ’s action.

“All of these are under study. We will act soon,” said Guevarra, referring to the admission of CHED Chairman Prospero de Vera III that the report does not dwell on alleged violation of laws or quarantine protocols.

De Vera earlier said its investigation is merely “on possible violations of CHED advisories” and “it’s not connected with any law and order issue or violations of local government rules.”

A high-ranking official of the DOJ who agreed to talk on condition of anonymity, also expressed doubts that the Justice Department has jurisdiction over the matter in light of De Vera’s statement.

“I think it is more an administrative than

JUSTICE Secretary Menardo Guevarra says a resolution would be released if the Sorsogon City Bubble warrants the department’s action.

criminal investigation unless DOJ will direct the National Bureau of Investigation to conduct its own investigation to determine possible criminal liability,” the official explained.

However, the source said the NBI would

Tigers as farmers?

Unbelievable—Roque

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RESIDENTIAL Spokesman Atty. Harry Roque Jr. is not buying the Sorsogon provincial Philippine National Police (PNP) report that cleared former University of Santo Tomas (UST) Growling Tigers head coach of any violation of quarantine protocols.

“We are promoting sports through discipline and excellence, but within the parameters of following the rules and following the sportsmanship conduct which is very important especially to the youth,” said Roque, adding the case of Ayo and UST is not done yet despite being cleared by the Sorsogon police.

“I think the decision of the PNP Sorsogon and the DOJ [Department of Justice] is different.

Let’s also wait for the decision of the CHED [Commission on Higher Education] and DOJ,” said Roque, also the spokesperson of the Inter-Agency Task Force for the Management of

PRESIDENTIAL Spokesman Atty. Harry Roque Jr. is not convinced by the Sorsogon police report on the bubble controversy.

Emerging Infectious Diseases.

Gov. Chiz Escudero cleared Ayo of any wrongdoing after the Sorsogon PNP concluded in a September 23 report that the Growling Tigers didn’t train for basketball during the three months that they stayed in Ayo’s house and farm in Capuy.

Instead, the Sorsogon PNP declared the players farmed, planted trees and tended to Ayo’s piggery for some financial allowances from the resigned UST coach to tide them up and their family during the Covid-19 pandemic.

Silver: It’s unlikely for NBA to accommodate Tokyo Games

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ATIONAL Basketball Association (NBA) Commissioner Adam Silver warned players who are hoping to represent their country at the postponed Tokyo Olympic that it is “unlikely” the league will accommodate Games by pausing the league’s delayed 2021 season.

The 2021 NBA campaign is expected to clash with the Tokyo Olympics, pushed back to next year because of the coronavirus campaign, as Silver said the league will not begin before Christmas.

Silver again suggested NBA stars who want to play at the Games may be left disappointed, while admitting a stoppage in the season would be considered.

“I think it’s unlikely at the end of the day that if we start late that we would stop for the Olympics,” he said. “It’s not just a function of stopping just for the period that they would be

competing over in Tokyo. They would require a training camp and they require rest afterwards.”

Silver said “everybody’s just going to have to make certain accommodations” in the 2021 season following an extraordinary period sparked by the Covid-19 pandemic, but conceded NBA players not competing in Tokyo would be detrimental to the quality of several national sides in the Olympic tournament.

Basketball Australia is among the organizations which expressed concern regarding the impact the NBA refusing to pause its season for the Olympics could have on its team.

American basketball head Coach Gregg Popovich also admitted his fears over the clash between the 2021 NBA Season and Tokyo, scheduled to run from July 23 to August 8.

Insidethegames

unlikely intervene in the issue since the Sorsogon City Philippine National Police (PNP) had already conducted an investigation together with the provincial government which took into consideration all factual and legal

issues raised against the Sorsogon Bubble issue.

In a seven-page investigation report, the Sorsogon City Police Station declared that Aldin Ayo “is not liable for violation of any health protocol pursuant to IATF-EID guidelines and local executive order in the province during the arrival and stay of the UST players in his residence.”

This was contrary to critics’ claim that the Sorsogon bubble was a clear violation of the quarantine protocols issued by the IATF-EID as the country continues to deal with the Covid-19 pandemic.

The PNP report also belied the reason proffered by the University Athletics Association of the Philippines (UAAP) in imposing an indefinite ban on Ayo from joining all leaguesanctioned events.

The UAAP earlier ruled that Ayo endangered the health and well-being of his players when he conducted the Sorsogon bubble.

But the PNP report said “ That, the actions performed by former UST Head Coach Aldin V. Ayo is in accordance with the health protocol and guidelines as per the existing Inter-Agency Task Force for the Management of Emerging Disease.”

The report of the Sorsogon City PNP was affirmed by the provincial government through Sorsogon Gov. Chiz Escudero.

Earlier, Interior and Local Government Secretary Eduardo Ano said the PNP report “would help a lot in clearing the controversy.”

‘Magnifico’ shows rust in split decision victory

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ARK “MAGNIFICO” MAGSAYO settled for a split decision victory over American Rigoberto Hermosillo in a non-title main event featherweight showdown promoted by the Premier Boxing Champions (PBC) at the Microsoft Theater in Los Angeles, California, on Sunday.

It was Magsayo’s third fight in the US, but the first pay-per-view outing for the pride Tagbiliran City.

Interestingly, the 28-year-old Hermosillo connected more punches (181-136), but two of the three judges saw the 25-year-old undefeated Magsayo making more effective hits in the 10-round bout televised over Fox Sports 1 during the PBC’s Fight Night.

Judge Rudy Baragan scored the fight 100-90 and Zachary Young 96-94 for Magsayo, while Lou Moret saw Hermosillo as the better boxer and gave him a 96-94 score. All three judges are from California.

International matchmaker and Manny Pacquiao’s MP Promotions President Sean Gibbons said the last-minute change of opponent from a right-hander Jose Haro to a southpaw Hermosillo gave Magsayo some difficult times.

But Magsayo’s determination, hard punches,

MAGSAYO

aggression and a little bit of luck extended his unbeaten run to 21 fights with 14 knockouts.

“It was a good start, it was a tremendous backand-fourth battle. I think early on he did very well, and then he kind of stopped putting combinations together,” Gibbons told the BusinessMirror. “Mark landed the cleaner and better punches. The other guy just threw a lot [of punches].”

“But at the end of the day, Mark showed he can do better things,” Gibbons added.

Magsayo floored Hermosillo with a short left in the ninth round, but referee Jack Reiss declared it a slip.

Magsayo turned more aggressive in the final round Hermosillo fell to an 11-3-1 win-lossdraw record with eight knockouts.

He never really fought a real aggressive guy who keeps throwing punches even in the 10th round,” Gibbons said.

Freddie Roach, the longtime trainer of eight-division world champion Manny Pacquiao, felt Magsayo fell short of expectations in the fight.

“We have a lot of work to do in the gym,” he told Fox Sports.

Magsayo last fought Thailand’s Panya Uthok in August 31 last year, scoring a unanimous decision victory over.

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to be around a horse like this.”

Jesus’ Team was a distant third at 40-1 and Art Collector fourth at 2-1. The 145th running of the Preakness at a mostly empty Pimlico came four weeks after the Kentucky Derby and 3 1/2 months since the Belmont as they were held out of order for the first time since the 1930s.

At 11-1 odds, Swiss Skydiver pulled off an upset of 3-2 favorite and Kentucky Derby winner Authentic.

Albarado made a powerful move around the final turn that would usually come right by revelers in the infield unable to catch a glimpse of the home stretch.

“I had an opportunity,” said Albarado, who won his second Preakness after 2007 aboard Curlin. “I took advantage of the rail. Johnny stayed off the fence there, made a conscious decision to move at that time.

Give or take now. If I make that move now or I wait and get smothered.”

Bleachers’ Brew

A dream that is 10ACT THE swell folks at 10ACT (pronounced as “tenacity” Sports recently donated face masks to Covid-19 frontliners at the Quirino Memorial Medical Center in Project 4, Quezon City.

I had the opportunity to visit 10ACT’s flagship sportswear shop along JP Rizal in Project 4 and I was very much impressed.

The bulk of their sportswear include jerseys and jackets that feature fan and street art of various basketball heroes. They also have shorts, compression shirts, golf polo shirts, caps and even now, face masks.

This fledging company that began as a dream from some friends in La Salle is now a reality. Although the pandemic somewhat put a damper on their launch, 10ACT has done the bulk of their promotions online. And it caught my eye.

When I visited their store, Arnold Lanaria showed me around their flagship store. I am told that the reception by sports fans—mainly basketball though—has been very positive.

Judging by the designs that include fan art that is a form of expression, they are impressive.

There is the street feel or an in your face attitude to their designs.

But perhaps their biggest move was to donate a bunch of face shields to the frontliners at nearby QMMC. “I think this is the least that we can do,” offered Lanaria. “And we’re quite happy to provide them with this simple token for their sacrifices.”

Like all hospitals, the QMMC saw its share of Covid-19 patients while experiencing their own hardships.

10ACT began in March of 2018 following a chat between Lanaria and his De La Salle friend Charles Tan. “We love hoops both in playing and watching. And part of basketball culture are the kicks and even the gear. Who doesn’t want to play with a certain style and flair,” bared Lanaria. “So we thought, how about doing our own designs? Designs that reflect this attitude.”

What started out as a customized shop in Valenzuela is now a real deal store.

“We are starting to grow a following for our personalized fan art jerseys,” pointed out Lanaria. “Our own original designs have picked up as well.”

While the bulk of their designs are of popular National Basketball Association stars, 10ACT hopes to do more local content in the near future.

“I think when the pandemic is over, and live sports with fans in the stands are back, we will be able to find our place,” summed up Lanaria.

“But for now, we’re happy that we are fulfilling our dreams.”

Saso drops to No. 2 spot in Japan LPGA

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UKA SASO missed another top 10 finish in a major Japan Ladies Professional Golf Association (JLPGA) Tour tournament despite a final round 70 that sent the Filipino-Japanese to joint 14th place in the Japan Women’s Open local bet Erika Hara dominated in Miyakawa City in Fukuoka Prefecture on Sunday.

Saso in the process lost the Player of the Year top ranking after seven tournaments with Sakura Koiwai surging

SILVER

ahead with a runner-up finish worth 240 points, hiking her total to 784.

Saso, who led by 143 points following back-to-back victories at the NEC Karuizawa and Nitori Ladies, slipped to second with 739.35 points.

Hara jumped to third with 540 points followed by Earth Mondahmin Cup winner Ayaka Watanabe (520.10 points) and JLPGA Championship Minolta Cup titlist Saka Nagamine (507.25 points).

Saso, however, kept the No. 1 spot in the money list with Y65,190,250

Ladies first at Preakness as filly Swiss Skydiver wins ALTIMORE—Those hanging around the heavily restricted stakes barn at Pimlico Race Course this week joked around that Authentic would stare down filly Swiss Skydiver whenever she walked past.

“He got a good look at her today,” jockey Robby Albarado said.

Swiss Skydiver added one final memorable moment to cap off a topsy-turvy Triple Crown season, beating favored Authentic by a neck after a stretch duel in the Preakness Stakes run without fans Saturday. She became the sixth filly and first since Rachel Alexandra in 2009 to win the Preakness, which this year served as the third leg of the Triple Crown for the first time.

“She’s just such a special filly,” said trainer Kenny McPeek, who won the Preakness for the first time for his second Triple Crown race victory. “Just a real honor

Rick Olivares bleachersbrew@gmail.com

McPeek won a Triple Crown race for the first time since the 2002 Belmont with Sarava, which was the biggest upset in the history of that race. Swiss Skydiver was the first filly to run in the Preakness since 2014, when Ria Antonia finished last.

“I didn’t feel that much tension really,” McPeek said. “I felt like we had her well-prepared. Any horse race, things have to go your way. But every day she was happy, she was bright-eyed.”

It went Swiss Skydiver’s way in part because Authentic’s Hall of Fame jockey, John Velazquez, abandoned the rail, giving Albarado the lane for a near-perfect trip.

“That’s a good filly,” said Authentic and Thousand Words trainer Bob Baffert, who was denied a recordbreaking eighth Preakness victory. “He had every chance to get by her. He got beat. He just couldn’t get by her. She dug in. She’s tough.” AP

SWISS SKYDIVER is the sixth filly and first since 2009 to win the Preakness, which this year serves as the third leg of the Triple Crown for the first time. AP

in earnings, counting the Y1,226,250 she claimed this week with Watanabe still in second (Y53,454,250) followed by Koiwai (Y52,559,000).

Saso never got going despite hitting two birdies against a bogey in the first three holes as she muffed at least a couple of birdie chances although she gunned down two more birdies, including on the last hole, against another bogey for a 34-36 card.

The International Container Terminal Services Inc.-backed bet assembled a 286 for a share of 14th with six others, winding up 14 strokes behind Hara, who turned the final round into a victory walk on her way to a 68 and a 16-under 272 for a four-shot romp over Koiwai for her first major victory in a three-year pro career.

Dottie Ardina, meanwhile, faltered in a frontside finish and wound up with a 73 as she dropped to joint 35th after three rounds of the Symetra Classic now led by Taiwanese Peiyun Chien in Daytona Beach, Florida, on Saturday.

Ardina looked headed to submitting a second under-par round in three days with three straight birdies from No. 18 that negated a bogey on No. 13.

But she—wavered with three bogeys in the last six, including the last two to finish with a 37-36 for a 214 that included a 69 and 72.

That was 12 shots behind Chien, who carded a 70 for a 202 and a one-stroke lead over American Lucy Li, who pooled a 203 after a 58 while Spain’s Fatima Cano also shot a 70 and gained a share of third at 206 with Anna Redding of the US, who slowed down with a 72 after back-to-back 67s.

Fil-Am Clariss Guce turned in a second straight 71 to move to joint 26th at 212.