BusinessMirror September 09, 2020

‘Data gaps delayed SAP distribution’ P OOR-QUALITY data was one of the causes of delay in the timely distribution of the Social Amelioration Program (SAP), according to the Philippine Institute for Development Studies (PIDS).

The PIDS discussion paper, titled “Innovating Governance: Building Resilience Against Covid-19 Pandemic and Other Risks,” dwelt on funds for the SAP that were provided under the government’s Bayanihan to Heal as One Act of 2020 for those severely impacted by the pandemic-induced lockdowns.

The research team was led by PIDS Research Fellow Aubrey Tabuga.

The Department of Social Welfare and Development (DSWD) earlier said 13.7 million beneficiaries have already received their cash assistance from the government, but criticism of the prolonged implementation of the aid program has continued.

“This is compounded by the varying processes of local government units [LGUs] in

TWO boys wearing face masks to protect themselves against Covid-19 walk past a mural at the University of the Philippines. The Department of Education has moved the opening of classes for school year 2020-2021 to October 5, 2020. BERNARD TESTA

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identifying target recipients and the ’lack of reliable lists and databases for SAP validation and accountability’ in communities,” the authors said.

Another issue, PIDS said, is the lack of coordination and misalignment of plans and actions between the different levels of government.

According to the paper, the weak coordination between the national and local governments led to the violation of the enhanced community quarantine (ECQ) guidelines on social distancing and mass gathering.

Lessons

TO address these gaps, the researchers urged the government to examine and learn from the best practices of its Asian peers and even LGUs nationwide.

“The authors underscored some lessons that the country can draw from both local and international experiences to be able to

enhance its governance systems and structures,” PIDS said.

These lessons include the need to establish an integrated information system and data interoperability in all levels of government. This will improve data collection and information sharing, which are crucial to speed up the distribution of the government’s assistance to its intended beneficiaries.

The Philippine Identification System Act (Republic Act 11055) and the Free Internet Access in Public Places Act (RA 10929) are among the government’s initiatives to achieve this objective.

Second, it needs to strengthen the coordination and linkages among different government levels and across local governments.

It is essential to align and harmonize plans and policies from top to bottom to ensure the effective implementation of measures against the pandemic and other risks.

See “Data Gaps,” A2

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’DEBT MONETIZATION’ A CALOOCAN City Hall employee demonstrates how to use the Q Band, or quarantine band, for distribution to residents undergoing quarantine at Barangay Grace Park in Caloocan City on Tuesday. The wristbands will be used to remotely monitor individuals who have tested positive for Covid-19. NONOY LACZA

T

By Tyrone Jasper C. Piad

HE peso may weaken and inflation may pick up if the Bangko Sentral ng Pilipinas (BSP) allows its repurchase agreement with the Bureau of the Treasury (BTr) to be renewed, an analyst has warned.

ING Bank Manila Economist Nicholas Antonio T. Mapa noted that the P300-billion repurchase agreement of the Central Bank with the BTr is set to expire at the

end of the month.

“Should BSP allow continuous rollovers of upsized repurchases agreements, they may be engaging in de facto debt monetization,

which may likely not be received well by the market,” he said in a statement on Tuesday.

Debt monetization refers to the process of the Central Bank purchasing bonds from the market to bring about liquidity.

Mapa said that the “practice of having the Central Bank buy up debt to help lower costs has generally been frowned upon as it generally leads to inflation and currency weakness.”

In addition, Mapa noted that the BSP has been active in the secondary market as well, buying bonds amounting to roughly P800 billion over the last six months to

stabilize market yields and inject additional liquidity.

The Bayanihan to Recover as One Act or the Bayanihan II is also allowing the BSP to purchase up to P850 billion worth of bonds from the primary market, the economist said.

“The Central Bank continues to single-handedly provide the much-needed stimulus to the economy, while fiscal authorities stockpile funds and yet roll out modest stimulus packages,” Mapa observed.

Mapa called on the other sectors to make a move to aid the See “Debt,” A2

Nielsen tracks Covid-era consumption patterns

By Cai U. Ordinario

T

HE power of the consumers’ purse and their penchant for do-it-yourself (DIY) are redefining consumption patterns across Southeast Asia as Covid-19 continues to infect millions worldwide, according to a study released by global measurement and data

analytics firm Nielsen.

In a statement, Nielsen said despite media reports of rising virus transmissions, Southeast Asians let the size of their wallets determine fast-moving consumer goods (FMCG) they will be buying.

Nielsen also noted that in countries like the Philippines, “routines of consumers at home”

PESO EXCHANGE RATES n US 48.6160

or their DIY behaviors and “homebound lifestyles” influence them to make purchases.

“As consumer response deviates from the news cycle, the building blocks of the everyday shopping basket have bent in the face of economic downturn and transformation of the workforce,” Scott McKenzie, head of the Nielsen In-

telligence Unit, said.

“Decisions will need to be made to reconcile purchase habits people have had in place for years alongside today’s new reality, where health and value priorities compete side by side,” McKenzie said.

In terms of cost, the Nielsen study showed that with less Continued on A2

CITIZEN-GENERATED INFO, BIG DATA ON PSA PRIORITY AGENDA

By Cai U. Ordinario

T

HE Philippine Statistics Authority (PSA) is keen on exploring the use of big data, citizen-generated data and administrative-based statistics in light of the pandemic.

National Statistician Claire Dennis S. Mapa said these innovations would be an important support to official statistics amid the coronavirus disease 2019 (Covid-19) pandemic.

In the 7th Session of the Committee on Statistics at the United Nations Economic and Social Commission for Asia and the Pacific, Mapa said the Philippines also intends to use these innovations for the country’s data requirements, including for the Sustainable Development Goals (SDGs).

“During these extraordinary times, with the clamor for more timely and more granular data for policy-making, the PSA is exploring new initiatives to improve official statistics in the areas of (a) Big Data (i.e., webscraping as a price collection method), (b) Citizen-Generated Data, and (c) Local-level statistics through the CommunityBased Monitoring System,” Mapa said in the country’s proposed list of interventions for the region obtained by the BusinessMirror.

Mapa said big data, citizen-generated data and administrativebased statistics are being used to strengthen Civil Registration and Vital Statistics (CRVS) system for SDG monitoring.

See “Big Data,” A2

n JAPAN 0.4575 n UK 64.0030 n HK 6.2731 n CHINA 7.1190 n SINGAPORE 35.5926 n AUSTRALIA 35.3633 n EU 57.4495 n SAUDI ARABIA 12.9632

Source: BSP (September 8, 2020)

News BusinessMirror

A2 Wednesday, September 9, 2020

Data gaps…

Continued from A1

International best practices included those found in South Korea, Singapore, Taiwan and Vietnam. PIDS said South Korea is open and transparent in data sharing to affected individuals, while Singapore implemented a package of restrictions and rules through the “circuit breaker”.

Taiwan has integrated the travel records of its citizens into its national health insurance database to monitor patients’ travel history, while Vietnam imposed strict entry and work permit bans on both local and foreign nationals.

“The authors pointed out that these countries used their experiences to build their information systems, allow for complementary laws and guidelines to work around data privacy and trust issues, and integrate databases such as immigration and health insurance records for ease of determination of travel history of patients,” PIDS said.

PIDS added that these governments were also proactive in dealing with the pandemic by immediately recognizing the threat early on and closing borders.

They also used innovations to create systems and applications to facilitate contact tracing and stop the transmission of disease.

Meanwhile, the authors noted that some LGUs in the Philippines also introduced innovations and reforms that their counterparts can adopt.

The state-owned think tank said the mayor of Marikina City initiated the opening of a testing center in his locality to treat infected residents at the earliest stage of the disease and isolate them.

The mayor of Pasig City has also rolled out various initiatives such as contact tracing, deployment of disinfectant drones, and conversion of hotels into quarantine facilities.

PIDS noted that the mayor also launched the “mobile palengke” program to minimize the number of people crowding at public marketplaces and assist those who have no access to transportation.

Cai U. Ordinario

www.businessmirror.com.ph

Co-ops helped communities with ₧1.3-B funding–CDA

A

By Samuel P. Medenilla

ROUND P1.3 billion of the Community Development Fund (CDF) was spent by cooperatives nationwide for their novel coronavirus disease (Covid-19) response.

In an online briefing on Tuesday, the Cooperative Development Authority (CDA) said the assistance from local cooperatives benefited over 1.4 million people.

Of the beneficiaries, 790,000 are cooperative members, while the remaining 653,000 are nonmembers.

Under Republic Act 9520 or the Cooperative Development Act,

cooperatives are mandated to put up their CDF, which will come from 3 percent of their profit, to be used for helping the community.

Aside from cash aid, the concerned cooperatives also distributed over P433 million worth of donations in kind in the form of relief goods, food packs and personal protective equipment (PPE).

CDA chairman Orlanado Ravanera commended the cooperatives, who heeded the government’s call for them to tap their CDF to help people affected by Covid-19.

He noted the active participation of cooperatives during the

pandemic affirms the study conducted by the United States Overseas Cooperative Development Council that the Philippines is among the Asia and the Pacific countries that have cooperatives actively helping in community development.

“This means the Philippines is the cooperative leader in Asia and the Pacific.... This is shown by the cooperatives during this crisis,” Ravanera said.

Ravanera said there are currently 18,451 active cooperatives nationwide with about 11.6 million members.

Nielsen tracks Covid-era consumption patterns Continued from A1

disposable income, consumers are looking for ways to maximize their budgets. Consumers tend to prioritize health and their value needs.

Data showed 36 percent of surveyed consumers in multiple markets around the globe have noticed a decline in promotions across stores they’ve shopped at, and retail measurement confirms it.

Nielsen also observed a historically low level of trade promotion

activity across various countries.

Channel preferences are also shifting as the criteria for affordability evolves in the minds of consumers.

“As consumers become more discerning in their purchasing decision, FMCG companies need to think about their offering tailored to consumers’ priorities, simplify omni-channel fulfillment and enhance shopping experiences in the new reality,” Nielsen Managing Director for Consumer Intelligence in Asia Vaughan Ryan said.

Nielsen said DIY behaviors and demand for in-home branded experiences have persisted even beyond living restrictions and store re-openings in many Southeast Asian markets.

Around 24 percent of consumers surveyed in the Philippines switched pack sizes, suggesting that they are seeking FMCGs that suit their homebound lifestyle.

In-home consumption

ACROSS Southeast Asia, consumers continued to demonstrate a focus on in-home consumption, where food and dairy saw strong uptake in markets like Singapore (up by 42.6 percent vs last year), the Philippines (11.4 percent) and Malaysia (6.8 percent).

“Companies that can intelligently align with DIY behaviors will succeed in empathizing with current consumer interest in creative, cost-conscious and safe consumption,” McKenzie said.

“Consumers are already willing to do the legwork to bring a product experience into the safety of their homes. Therefore, companies have the opportunity to seize that interest and respond with affordable, accessible and branded take-home experiences,” he added.

Nielsen said it expects that due to these changes, consumers may soon redefine the significance and meaning of the FMCG goods they buy.

Around 83 percent of consumers in Asia Pacific said they were cutting down their expenses in the second quarter of 2020 compared to 73 percent in the pre-pandemic fourth quarter of 2019.

Among surveyed consumers who have changed their spending, 30 percent or more are spending less on takeaway meals, holidays, out-of-home entertainment and new clothing.

Big data…

Continued from A1

Apart from this, Mapa said the PSA encouraged other National Statistics Offices (NSOs) in the Asia and the Pacific region to not limit capacity building for data producers.

Mapa said capacity building should include users, media and policy-makers. This is crucial in understanding and utilizing statistics whenever possible and relevant.

To help in this, Mapa recommended that three additional indicators be added to the Results Matrix in the Monitoring and Evaluation Framework for the Regional Collective Vision and Framework for Ac-

Nielsen predicts that consumers will turn to consumer goods as a means to fulfill emerging entertainment and experience gaps in smaller ways.

Across Southeast Asia, Nielsen said there are already signals of strong demand for FMCG categories that could benefit from this rationale reset.

Data showed that key segments in Singapore have experienced an acceleration in sales during the year-to-date period ended in June including snacks (+25 percent) and alcohol (+15 percent).

“Consumers throughout the region are constrained to spend as every purchase holds greater significance, while those consumers who remain insulated, too, will justify premium spending based on benefits and convenience,” Ryan said.

The Covid-19 Behavioral Reset study presents how behavioral responses could differ according to the circumstances and level of personal impact the pandemic has had on consumers.

Predictions are made across the spectrum of two polarized consumer groups, namely, insulated spenders and constrained spenders.

Across Asia nearly two out of every five consumers or 38 percent said they have been impacted by Covid-19 versus 32 percent of consumers globally.

The predictions also help to identify and anticipate the differences in future shopping behavior between constrained and insulated spenders, who span the spectrum of consumers who have and have not been personally or financially impacted by Covid-19.

The study aims to help retailers and manufacturers to recalibrate strategies around how consumers will transform behaviors due to the prolonged socioeconomic impacts of the pandemic.

tion and the Declaration on Navigating Policy with Data to Leave No One Behind.

With the new indicators, PSA said, the NSOs should produce infographics, videographics and other digital media for dissemination as well as conduct capacity building on communicating statistics for NSO staff across the region.

Mapa also proposed that an indicator should determine whether NSOs regularly conduct consultative and dissemination fora, webinars, or press conferences.

He said the Philippines fully supports the endorsement of the Monitoring and Evaluation Framework which provides important and necessary guidance and assistance to producers and users of quality data in support of the 2030 Agenda.

This can include constant dialogue, empowerment of NSOs and the National Statistical Systems, investment in statistics and statistical offices, capacity building, and leveraging the use of Information and Communication Technology (ICT), involving a whole-of-government approach at all levels, from national to subnational governance.

Dive resorts already open sans DOT rules Continued from A8

Best dive sites

THIS developed as the Philippines continued to reap recognition as among the best dive sites in the world, thus setting the stage for the country’s hosting of an international diving expo in October.

Just recently, the Marine Diving Magazine cited the Philippines as “a first pick for many diving lovers” in the Overseas Diving Category, garnering 814 out of the 3,572 total votes cast by its subscribers.

The recognition was made at the Marine Diving Fair 2020 in Tokyo.

Also, popular travel guidebook publisher Lonely Planet cited Tubbataha, Palawan and Cebu as among “6 national parks around the world with surprisingly spectacular diving.”

In her piece, Lonely Planet writer Angela Ballard encouraged readers to visit Palawan dive spots like Amos Rock, Washing Machine and Black Rock to “experience 600 species of fish, 360 species of coral, 11 species of sharks and 13 species of dolphins and whales, along with manta rays, barracuda, nudibranchs, pipefish and seahorses.”

These recent awards and recognition “fortify our status as one of the premier diving sites in the world, and very timely with the scheduled staging of the second edition of the Philippine Dive Expo (Phidex) 2020,” said Romulo Puyat.

Phidex will be held from October 9 to 11, 2020, via digital platform.

The Virtual Marketplace and Dive Travel Exchange (Travex) will be free of charge for all DOT and PCSSD-accredited establishments, while the Dive Conference and Panel Discussions will be livestreamed through socialmedia networking sites.

The Marketplace is a virtual exhibition floor that can accommodate over 100 exhibitors offering the latest deals, dive holiday packages and promos from different dive resorts, dive operators, dive shops, dive centers, dive equipment and underwater photography gear dealers, and dive training agencies.

Travex is a business-to-business (B2B) networking program via online video conferencing to be attended by at least 100 dive agents, dive operators and dive club leaders from established key and opportunity markets, such as the United States, Canada, Germany, France, Spain, Italy, Australia, New Zealand, the UAE, South Korea, Japan, China, Taiwan, Singapore, Malaysia, Thailand and Indonesia, through algorithm-based matchmaking for business leads generation.

Debt…

Continued from A1

“aggressive” initiatives of the Central Bank to help the economy. This, as he stressed that the de facto debt monetization scheme may hurt the BSP’s credibility should it happen.

“Desperate times do indeed call for desperate measures, but for the most part, monetary authorities have thrown everything including the kitchen sink at the virus; perhaps it may be time for other sectors to complement the BSP’s aggressive moves as it would be a pity to see the Central Bank lose its credibility for the sake of other accolades,” he said.

The country’s headline inflation slowed to 2.4 percent in August from 2.7 percent the month earlier.

Meanwhile, the peso strengthened by a few centavos to close at P48.56 against the greenback on Tuesday, according to data from the Bankers Association of the Philippines.

www.businessmirror.com.ph

The Nation BusinessMirror

Villanueva slams offloading of UK-bound Pinoy nurses

By Butch Fernandez @butchfBM

S

EN. Joel Villanueva deplored on Tuesday the offloading of seven Britain-bound Filipino nurses by Bureau of Immigration (BI) authorities over the weekend.

Villanueva, chairman of the Senate Committee on Labor, Employment and Human Resources Development, denounced the deployment ban invoked by BI officers to offload the nurses, asking concerned authorities to quickly sort out the matter.

The lawmaker lamented the incident involving the seven Filipino nurses bound for the United Kingdom who were offloaded by BI authorities Sunday night purportedly due to the deployment ban on healthcare workers, noting it “highlights how disjointed this policy is, to the detriment of our own people.”

Villanueva prodded concerned officials of the Department of Labor and Employment to promptly “sort out the misunderstanding so that no other health-care worker suffers the trouble caused by the wrong interpretation of government policies.”

He asserted that it was “clear from the current policy that healthcare workers can leave with a contract ratified before the cut-off of March 8.”

“It is no longer included in the discussion when our workers were granted visas,” Villanueva said.

In a news statement, the lawmaker lamented that the BI “misinterpreted the existing deployment ban, and the memo they released last August 20 is proof of this, stating that health-care workers who were granted visas after March 8 are not

allowed to leave the country.”

According to Villanueva, it is clear that the current policy allows health-care workers with contracts perfected as of March 8, noting that “the date when the visa was issued is not part of the discussion.”

Moreover, he noted that “the BI’s interpretation of the deployment ban is clearly wrong as seen in its memo issued on August 20, which states that health-care workers whose visas were issued after March 8 are not allowed outbound travel.”

At the same time, Villanueva pressed his call to lift the deployment ban on health-care workers invoking the need to “balance the regulation with realities on the ground.”

The senator pointed out that most of the affected workers are their families’ breadwinners, who left their local jobs to pursue overseas employment, and have spent considerable time and money to train and prepare for deployment. Villanueva recalled that during the recent labor committee inquiry, health officials testified the country only needed 16,500 health-care workers to join its ranks, citing in particular, that of the 10,468 slots waiting to be filled, only 7,850 health-care workers have been filled up.

Villanueva suggested that what DOH should do is to “make the terms of employment enticing enough for our health-care workers to consider working for the government,” adding that “aside from the low pay and unclear guidelines on the grant of hazard pay, the employment under the emergency hiring program lasts only for three months. I don’t think this pandemic will end in the next three months, that’s why the terms should be longer.”

Senate tackles ban vs foreign entities abetting ‘intrusions’ into Philippine sea territories

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HE Senate is set to tackle a resolution asking the Duterte administration to ban from receiving government contracts, or conducting business in the country, “foreign entities who are engaged in, or abetted activities, that infringed on the sovereignty of the country” over the West Philippine Sea and other areas within its territorial jurisdiction.

Filed by Senate President Pro Tempore Ralph Recto, Resolution 507 cited ongoing efforts to liberalize the Philippine economy, particularly in the sectors of public services, retail trade and foreign investments “need to ensure foreign entities conducting business in the country shall respect and obey Philippine laws, including, and most importantly, laws governing national territory and patrimony.”

At the outset, the Recto resolution invoked a constitutional mandate for the State to protect the nation’s marine wealth in its archipelagic waters, territorial sea, and exclusive economic zone, and reserve its use “exclusively to Filipino citizens.”

It recalled that China’s construction of the “Great Wall of Sand” and rampant militarization of the maritime area well within, or in proximity to the West Philippine Sea have “affected the lives and threatened the livelihood of Filipinos” in terms of degradation of the environment and deterioration of fisheries production.

Moreover, the resolution noted conservative estimates from a maritime expert from the University of the Philippines Maritime Science Institute show the Philippines is losing P33.1 billion annually in terms of food and other resource production, climate and environmental regulation, animal habitat provision, and cultural and recreational services due to the damaged ecosystems in the Panatag Shoal and the Spratly Islands brought about by dredging, reclamation activities and illegal fishing operations by Chinese entities.

In addition, the Recto resolution recalled the Unites States Government has imposed sanctions against the People’s Republic of China for dredging and reclaiming over 3,000 acres of artificial islands within or in proximity to the West Philippine Sea “instigating destabilization in the region, encroaching on the rights of sovereign nations and causing “untold levels of environmental destruction.”

At the same time, it acknowledged that the US government imposed visa restrictions against Chinese individuals responsible for, or complicit in, either the large-scale reclamation, construction, militarization of disputed maritime feature within or in proximity to the West Philippine Sea, or use of coercion against the Southeast Asian claimants to inhibit their access to offshore resources.

“The US government has also included several Chinese companies, including the China Communications Construction Company and its 24 subsidiaries, into the US Department of Commerce Entity List, which imposes restrictions on doing business with American companies,” the resolution said.

In turn, the resolution noted that the Philippine government itself has “yet to impose any sanction against any Chinese enterprise or entity despite being directly affected by their aggressive reclamation activities, establishment of Chinese districts in disputed maritime features, and continuous military buildup in areas within or in the proximity to the West Philippine Sea and the Philippines Exclusive Economic Zone.

“While many local contractors were blacklisted for violation or circumvention of procurement laws,” it noted that Chinese enterprises, “notwithstanding a history of fraudulent public procurement practices or direct involvement in the reclamation activities in the disputed territories, are securing contracts for major infrastructure projects in the Philippines.” Butch Fernandez

Editor: Vittorio V. Vitug • Wednesday, September 9, 2020 A3

DND budget hike sought as China keeps developing islands in WPS

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By Jovee Marie N. Dela Cruz

@joveemarie

LAWMAKER on Tuesday asked Congress to increase the budget allocation for the Department of National Defense (DND) to upgrade its capabilities to perform its role in securing the country’s sovereign territory, as the agency admitted that China continues to develop islands in the West Philippine Sea.

During deliberations on the proposed P283.2-billion budget of the DND for 2021, Muntinlupa Rep. Ruffy Biazon said the current and emerging challenges the Philippines face require more than the allocation currently provided for the DND in the National Expenditure Program.

“Although the Department of National Defense usually ranks among the top 5 agencies based on the amount appropriated every year, the need to provide for the modernization of the Armed Forces of the Philippines to counterterrorism and local insurgency, as well as conducting humanitarian assistance and disaster relief in times of calamities and other emergencies should com-

pel Congress to find other means of sourcing funds beyond the General Appropriations Act,” he said.

Of the proposed P283.2-billion 2021 budget of the DND, P208.7 billion will be allocated as regular funds and the remaining P74.5 billion, for the pension of retirees and war veterans.

“It is a fact that in spite of calls by individual legislators to increase the appropriations for the DND-AFP included in the annual National Expenditure Program submitted to the Congress by the President, there is usually very minimal or no change at all when the General Appropriations Bill [GAB] is filed and passed as the General Appropriations Act

[GAA],” Biazon added.

While this is understandable, given the limitations in the formulation of the NEP, Biazon said Congress is not limited to the GAA in providing funds for the AFP to upgrade its capability especially in securing our maritime and air domain.

“Congress’s power of the purse is exercised not only through the passing the GAA but in the passage of other laws as well,” he said.

“It is in this light that during the Budget Briefing by the Department of National Defense and its attached agencies held by the House Appropriations Committee, I sought the support of Members of the House for the passage of bills I filed, that would provide additional sources of funds outside the GAA for the modernization of the Armed Forces of the Philippines,” Biazon added.

House Bill 699 seeks to amend the Bases Conversion Development Law to increase the share of the AFP for its modernization program from the current 35 percent to 55 percent.

Based on the average remittances of the BCDA in the first three years of the Duterte administration (P15.2 billion), this would mean an additional P3 billion in one year.

“Depending on how much the remaining properties will sell in the future, this figure could go higher,” he said.

China’s presence

IN the same hearing, Defense Secretary Delfin Lorenzana, mean-

while, admitted that China is continuously developing artificial islands in the West Philippine Sea while maintaining its presence in the disputed territory.

“They [China] continue to improve the islands they have built,” he told lawmakers.

Lorenzana said Chinese vessels are always located on Fiery Cross, Mischief and Subi Reefs.

“We know they have troops there [West Philippine Sea] but we do not know how big. We cannot have any way of knowing that,” the Defense secretary said.

But Lorenzana assured the public that the defense department is doing its best with the assets available to protect the Philippine territory.

Meanwhile, Gabriela Rep. Arlene Brosas on Tuesday questioned the budget increase of the DND. According to Brosas, the agency’s “sovereignty” fund has increased to P41.4 billion next year from P33.96 billion under the proposed 2020 national budget.

She noted that the increase in the sovereignty fund is contrary to President Duterte’s order not to involve Philippine troops in the naval exercises in the West Philippine Sea. Earlier, Lorenzana said that the President has a standing order “to us, to me, that we should not involve ourselves in naval exercises in the South China Sea except our national waters, the 12-mile distance from our shores.”

PRC lays down protocols for physician examinees

E

XAMINEES who will be taking the upcoming second part of the March 2020 Physician Licensure Examination (PLE) this month will be required to follow the necessary quarantine, or testing protocols.

The Professional Regulation Commission (PRC) issued an advisory reminding the participants of the upcoming PLE to first undergo Reverse Transcription Polymerase Chain Reaction (RT-PCR) test if they are suspected of being exposed to the novel coronavirus disease 2019 (Covid-19).

This requirement will apply for the following suspect cases: individuals with relevant history of travel and exposure (or contact) whether symptomatic or asymptomatic; and health-care workers with possible exposure, whether symptomatic or asymptomatic.

“The examinee shall be required to submit the results of his/her RT-PCR. Only those with negative results shall be allowed to take the examination,” PRC said in a news statement.

Examinees who do not fall in the said cat-

Groups seek deeper probe into Manila Bay’s ‘beach nourishment’ initiative

By Jonathan L. Mayuga @jonlmayuga

A

T least 10 environmental and cause-or iented g roups on Wednesday called for an investigation into the controversial “beach nourishment” project at a portion of Manila Bay’s shoreline.

The call for the probe was contained in a position paper sent to Environment Secretary Roy A. Cimatu, Agriculture Secretary William Dar, Bureau of Fisheries and Aquatic Resources Director Eduardo Gongona, and the Senate and House of Representatives, in the exercise of their oversight powers and the Office of the Ombudsman.

The group also prodded Manila Mayor Francisco Domagoso, Sangguniang Panlungsod ng Manila and Chairman Rene Escalante of the National Historical Commission (NHC) to investigate the violations committed by the proponents of the project.

In the position paper, entitled “DENR’s Dumping of Crushed Dolomite Boulders in Manila Bay,” groups that include Oceana, Living Laudato Si’ Philippines, Environmental Legal Assistance Center Phil. Earth Justice Center Inc. Archdiocese of Manila-Ministry on Ecology Dr. Jurgenne H. Primavera, Chief Mangrove Scientific Advisor of Zoological Society of London, Inte-

egories should undergo 14-day quarantine prior to the PLE, the statement added.

They will have to submit a Certificate of Quarantine, or its equivalent, signed by the accredited licensed physician, or duly authorized local officials to be allowed to take the exam.

Minimum health standards

ON day of the PLE on September 20 and 21, 2020, the examinees will also be required to comply with minimum health standards.

grated Rural Development Foundation, NGOs for Fisheries Reform, Tambuyog Development Center, and Pangingisda Natin Gawing Tama (PaNaGat) Network expressed alarm the P398-million Manila Bay “beautification project” is being implemented without compliance with national laws amid the pandemic and climate crisis.

The dumping of dolomite, they alleged, would create adverse environmental impacts, such as aquatic pollution, marine habitat degradation, loss of a globally important water bird site, loss of sardine spawning grounds, and the loss of mangroves and wetland areas.

They pointed out that Manila Bay waterfront was declared a National Historical Landmark by the National Historical Commission of the Philippines in 2012, and hence, it is protected by the National Cultural Heritage Act of 2009.

The law mandates that the bay “shall be maintained as close to their appearance at the time the area was of most importance to Philippine history as determined by the National Historical Institute.”

They said Manila Bay is also a key biodiversity area identified by the Biodiversity Management Bureau of the Department of Environment and Natural Resources.

These measures include social distancing; wearing of face masks (preferably N95 mask) and face shield; bringing their own alcohol isopropyl or ethyl alcohol rub, meals, as well as their own ballpens, pencils and erasers; and submit the duly accomplished informed consent and health declaration, which could be downloaded from PRC web site.

To minimize queuing time, PRC will be separating examinees into two batches when entering testing centers. Samuel P. Medenilla

A4 Wednesday, September 9, 2020 • Editor: Vittorio V. Vitug

Economy BusinessMirror

ADB experts: Covid may spur ‘lockdown generation’ with poor access to job markets

A

By Cai U. Ordinario

@caiordinario

SIAN Development Bank (ADB) experts said the Covid-19 pandemic could create a “lockdown generation” wherein young workers experience difficulties in entering the workplace and experience shorter employment.

In an Asian Development Blog, ADB Senior Youth Employment Specialist Helen Osborne, Senior Economist Paul Vandenberg and Principal Social Development Specialist Chris Morris said prevent-

ing a lockdown generation requires state intervention.

They said helping young workers would require wage subsidies from governments; job creation and search assistance; training, reskill-

Natgas output from Jan to Aug pegged at 73,388 MMcf–DOE

By Lenie Lectura @llectura

T

HE country’s natural gas output from January to August this year stood at 73,388 million cubic feet (MMcf), data from the Department of Energy (DOE) showed.

As of August 25, the country consumed 69,856 MMcf out of the 73,388 MMcf production.

Natural gas production in the country is mainly consumed by the power, industrial and transport sectors.

Of which, 68,629 MMcf was utilized to boost the country’s power generation.

Meanwhile, the industrial sector took up 1,227 MMcf. The transport industry recorded zero consumption.

The latest data brings the total output to 2,322,447 billion cubic feet, while consumption stood at 2,236,121 billion cubic feet.

Of the total output, the power sector consumed 2,195,589 billion cubic feet, while 40,348 MMcf went to the industrial sector. The transport sector used up 184 cubic feet.

The DOE said in July that natural gas production and demand could drop this year by over 4 percent versus last year.

Domestic production for 2020 is seen to decline by 4.49 percent, or 148,502 mmscf, compared to last year’s 155,495 mmscf.

The projected decline is mainly due to the scheduled maintenance shutdown of the Malampaya gas platform for five days in October and the implementation of the enhanced community quarantine (ECQ) in Luzon.

Further, there will be an expected gas restriction as gas nomination is expected to surge for more demand of electricity.

Also, the operation of the Gas Export Pipeline (GEP) from the platform to the onshore gas processing plant will meet some chal-

lenges in view of its capacity limitation and distance.

“These events are perceived to impact in the nomination on the volume of natural gas from the Malampaya gas field by the identified customers and/or users,” the DOE said.

Projected demand this year could reach 142,808 mmscf against the 2019 level of 149,007 mmscf, or a plunge of 4.16 percent.

The expected decline is, likewise, attributed to the impact of the Malampaya shutdown this year, the ECQ and the expected implementation of the maintenance activities of the respective consumer of natural gas.

The same data showed that natural gas for the power sector is projected to reach 140,304 mmscf this year, 4.14 percent lower than last year’s level of 146,365 mmscf.

The DOE attributed the expected decline to the implementation of major maintenance program of the Ilijan, Sta. Rita and San Lorenzo gas plants within the year.

Also, the ECQ has enhanced the impact in the consumption level of natural gas resulting to the low demand of electricity as most industrial and commercial sectors ceased operations.

Meanwhile, the industrial sector’s forecasted demand this year could reach 2.505 mmscf, reflecting a 5.18percent dip from the previous year’s actual utilization of 2,642 mmscf.

The decrease is the result of the refinery’s economic shutdown in May as an effect of the implementation of the ECQ. There is no projected consumption in transport industry.

At present, the Malampaya Deep Water Gas-to-Power project is producing 3,400 megawatts to fuel the gas plants in the country.

Prior to the Malampaya gas facility, the country had the San Antonio gas field from 1994 to 2008.

However, Malampaya gas field is projected to be depleted by early 2022, or by 2027 at the latest.

ing and upskilling; and entrepreneurship assistance.

“They [young workers] are suffering a double impact from both layoffs and work-hour reductions on the labor demand side and disruptions to education and training on the supply side. The Covid-19 crisis risks creating a ‘lockdown generation,’” the authors said.

Osbor ne, Vandenberg, and Morris said the government can help employers by providing a wage subsidy to avoid layoffs and retain young workers during the pandemic.

The authors also said the government can stimulate demand for job creation targeted for young workers by creating employment opportunities.

They also said a time-bound social assistance for young jobseekers can be combined with supporting access

to relevant information about labor market opportunities.

Further, the government can also opt to provide young people with training to enter or reenter the work force.

The authors also said governments can invest in youth entrepreneurship. They said past economic shocks, the number of young selfemployed workers spiked, so it is critical that self-employment become a space for productivity and self-fulfillment.

“The public and private sectors, civil society and youth themselves must work together to protect young people’s jobs through the crisis,” the authors said.

Beyond the crisis, they said, young workers can also find employment opportunities in the green and digital economies, as well as flexible but secured forms of employment.

PERA hike for public school teachers pushed

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PARTY-LIST group on Tuesday pushed for an increase of at least P8,000 each in the financial aid for public school teachers under the Personnel Economic Relief Allowance (PERA) to address the gap between their monthly income and the approximate living wage in the Philippines for a family of five.

In filing House Bill 6329, or the act to increase PERA of public school teachers, Ang Probinsyano Rep. Alfred de los Santos said that the measure aims to enhance and uplift teachers’ living and working conditions.

According to de los Santos, even with the pay adjustment of the lowest salary grade teachers (Salary Grade 11 for Teacher 1) to P22,316 after the first tranche of increase under the Salary Standardization Law, the rate still falls below the approximate living

wage of P30,270 per family of five.

“Hence, it is proposed in the bill that the PERA granted to public school teachers must be increased to at least P8,000, an amount which would, at least, substantially cover the discrepancy,” de los Santos said.

“It has become necessary to grant the much-deserved increase in the benefits given to our public school teachers,” he added.

The lawmaker said the increase in the take-home pay of uniformed personnel further underscores the need to adjust upward the salaries of public school teachers.

As of April 2020, there are 965,660 regular employees in the Department of Education, more than 805,000 of them are holding teaching positions, while over 43,000 others are doing teachingrelated jobs. Jovee Marie N. Dela Cruz

www.businessmirror.com.ph

PCCI backing may prompt early passage of Balik Probinsya bill–solon says

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LEADER of the House of Representatives on Tuesday said the full backing of the country’s biggest business group for the Balik Probinsya, Bagong Pag-Asa program should serve as a strong impetus for Congress to immediately pass the bill.

Deputy Speaker Luis Raymund Villafuerte Jr. said the Philippine Chamber of Commerce and Industry (PCCI) that boasts 35,000 enterprises nationwide has expressed its support to House Bill 6970 institutionalizing Balik Probinsya to create jobs in the countryside and decongest cities.

According to Villafuerte, with a population density of 20,785 persons per square kilometer (sq km)— or 60 times higher than the 337 persons per sq km at the national level—Metro Manila is ranked 15th among the most densely populated cities in the world.

PCCI has endorsed Villafuerte’s proposed legislation on township revitalization meant to finally decongest Metro Manila and create more jobs and livelihood opportunities in rural communities amid the seemingly drawn-out coronavirus pandemic.

In a letter sent last month to President Duterte, PCCI said “with high population density becoming a major cause of the spread of the contagious Covid-19, we all the more must intensify the Balik Probinsya effort.”

Villafuerte filed HB 6970 during the first regular session of the 18th Congress in a bid, he said, “to fasttrack the implementation of President Duterte’s initiative to stop unbridled urban migration and create a lot of jobs plus livelihood and selfemployment in the countryside and to encourage people to stay put and work in their home provinces.”

HB 6970 seeks to “harness public investments and incentives as the linchpin of a two-pronged approach to encourage people who have migrated to the heavily congested Metro Manila to return to their home provinces and for those who have opted to stay put

in their cities or municipalities to remain there instead of relocating to Metro Manila and other urban centers in search of jobs, or better livelihood opportunities.”

President Duterte endorsed Balik Probinsya in one of his televised public addresses last May. PCCI told President Duterte in the letter that the decongestion of urban centers, notably Metro Manila, “has been planned and in fact, has been the ambition of previous administrations, their efforts inevitably have fallen short of expectations and come to naught. No administration has yet been able to successfully reverse rural migration to Metro Manila and other urban centers!”

Moreover, Villafuerte said he will “encourage businesses to relocate or expand to rural areas via a slew of government come-ons, such as tax breaks; incentives for relocation and creation of new jobs; and low-interest loans and financial aid for investors who will engage in rural industrialization.”

“Encouraging Metro Manilabased workers to return to their home provinces against the backdrop of the Covid-19 pandemic will only become an effective strategy to decongest the metropolis and spur genuine rural growth and development if government will provide the essential physical and social infrastructure, tax incentives and other financial assistance not only to entice Filipinos to make an exodus to the countryside but also encourage those residing in their provinces to stay put,” Villafuerte said.

He explained that HB 6970’s two-pronged approach of public investments and incentives had been the catalyst for successful programs to create townships and transform rural communities into new growth areas in the United States and Europe.

“By incentivizing business and other economic activities in the provinces, this bill will encourage workers in Metro Manila and other urban centers to go back to their hometowns where gainful employment awaits them,” he added. Jovee Marie N. Dela Cruz

₧1.5B in budget boost for dairy program pitched PCAFI said P150 million should be used to fund the National Dairy Herd Improvement Program that would “improve milk productivity and enhance the Artificial Insemination program expanded from the current diffusion rate of 7.9 percent to as much as 30 percent of breedable female animals.”

The program would also increase services per technician from the current 76 to 100 per year to a range of 150 to 200 services through incentive schemes to bring significant increase in the production of potential dairy animals, PCAFI explained.

The group proposed that P300 million be used to establish laboratory facilities in NCR, North Luzon, South

Luzon, Visayas and Mindanao to allow good genetic production, data processing and analysis facility, as well as creation of a dairy animal registry.

The laboratories would also help in ensuring compliance of milk standards and preventing animal diseases, according to PCAFI. PCAFI said P200 million would be used for enterprise support, which includes milk processing facilities, dairy hubs and credit support while the remaining P100 million would be allocated for extension services and improve milk production through utilization of forage and silage.

“There is no shortage of market and demand for the locally produced fresh milk because of its undisputed

competitive advantage from reconstituted powdered milk and UHT processed milk,” Fausto said.

“What we lack is supply.

Considering proper technology and innovations, there will be no poor farmer in the Philippines if each one could be given one or two dairy animals to milk,” he added.

PCAFI submitted their proposal on August 31, a few days before the Senate Committee on Agriculture and Food probed the delays in the implementation of P450million dairy projects of the government.

The inquiry was led by Villar, who expressed her disappointment over the country’s poor milk performance despite the NDA and the

continued from a8

Carabao Center having existed for decades.

Villar observed that “this means we have been missing the opportunity to make our kababayan, especially the farmers, benefit from the dairy industry as a source of additional income and for our children to have access to affordable milk.”

The Senate panel was informed that the Herd BuildUp Program ran for six years, from 2012 to 2018, starting with 39,069 dairy animals, but ended up with only 47,600 animals at the most recent count in 2018 and included cattle and carabaos. The program aimed to increase the local supply contribution for milk to 10 percent from a 2012 local supply figure of 1 percent.

Gumaca molecular laboratory ready to serve Covid patients in Quezon

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HE Department of Health (DOH)-Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) and the RAKKK Prophet Medical Center Inc. formally inaugurated on Wednesday the hospital’s molecular laboratory for Covid-19 testing, the second private health facility in the province to provide diagnostic test service located at Km. 194 Maharlika Highway, Barangay Rosario, Gumaca, Quezon.

“Malaki ang maitutulong ng additional molecular laboratory na ito upang mapabilis ang proseso ng swab testing sa mga pasyente at mas

marami at mas madali nating malalaman ang positibo o hinde at kung sino ang dapat ilagay sa isolation facility,” Regional Director Eduardo C. Janairo stated.

The RAKKK was granted accreditation by the DOH for the establishment of its molecular laboratory last August 2020.

There is now a total of 12 accredited laboratory centers in the region, namely, De La Salle University Medical Center and Ospital ng Imus in the province of Cavite; Qualimed Health Network, LPH— San Pablo City District Hospital, San Pablo Colleges Medical Cen-

ter, Calamba Medical Center and UPLB Covid-19 Molecular Laboratory in the province of Laguna; Batangas Medical Center, Daniel O. Mercado Medical Center, Mary Mediatrix Medical Center, Philippine Red Cross-Batangas Chapter in the province of Batangas; and Lucena United Doctors Hospital and Medical Center and RAKKK Prophet Medical Center in the province of Quezon.

Janairo, in his message, acknowledged the participation of the private sector in the fight against Covid-19. “Kailangan nating magsamasama at magkaroon ng iisang layunin sa

pagsugpo sa problemang kinakaharap natin ngayon.”

He added that the regional office will continue to support and extend assistance to private health facilities applying for accreditation to boost the region’s testing capability.

At present there are 21 laboratories which applied for accreditation, either for the convent iona l Rea l-Time Reverse transcription Polymerase Chain Reaction (RT-PCR) Testing or GeneXpert Testing. Of these, 13 are already licensed laboratory testing centers.

DEPARTMENT of Health-Calabarzon Regional Director Eduardo C. Janairo and RAKKK Prophet Medical Center Medical Director Leovigildo I. Leopando lead the formal opening of the hospital’s molecular laboratory for Covid-19 testing during the ribbon cutting and inauguration held on September 5, 2020, in Gumaca, Quezon.

The World BusinessMirror

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

Trump hints at vaccine ‘surprise’ as Biden demands transparency

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resident Donald Trump hinted on Monday that the US could approve a coronavirus vaccine in October, ahead of the November election, as Joe Biden demanded transparency from the government as it studies the shots.

“This could’ve taken two or three years, and instead it’s going to be—going to be done in a very short period of time,” Trump said during a news conference in which he criticized Biden for his skepticism that the FDA is operating free of political pressure.

“Could even have it during the month of October,” Trump added, calling Biden’s doubts “political lies.”

Many public health officials and scientists have expressed concerns that the Food and Drug Administration is under pressure from the White House to approve a vaccine before Trump faces re-election on November 3. Americans may be unwilling to receive a shot if they believe it was rushed to market based on the campaign timetable.

“The vaccine will be very safe and very effective,” the president said on Monday. “And it’ll be delivered very soon. Now, you could—you could have a very big surprise coming up.”

Before Trump’s news conference, Biden said he would heed the advice of scientists about whether to get a coronavirus vaccine if one were to become available before November’s presidential election.

“I’d want to see what the scientists said,” he told reporters

on Monday outside a supporter’s home in Lancaster, Pennsylvania.

Asked if he would trust Anthony Fauci and the Food and Drug Administration, Biden redirected, saying he’d “want full transparency on a vaccine.”

B id e n h a s p re v iou s l y e x pressed concern about Trump and political appointees pushing for the premature approval of a vaccine in hopes of boosting his re-election chances. “He’s undermining public confidence,” Biden said of Trump.

Trump fired back during news conference on Monday.

Biden and his running mate, Kamala Harris, “should immediately apologize for the reckless anti-vaccine rhetoric that they’re talking right now, talking about endangering lives, and it undermines science.”

Biden said he worries Trump’s behavior will damage public confidence if there’s an effective vaccine.

“One of the problems with the way he’s playing with politics is he’s said so many things that aren’t true I’m worried if we do have a really good vaccine, people are going to be reluctant to take it,” he said.

Biden also said he’d want an effective vaccine no matter the electoral consequences.

“If I could get a vaccine tomorrow I’d do it,” he said. “If it cost me the election I’d do it. We need a vaccine and we need it now.”

Bloomberg News

Japan’s economy shrinks 28% in Q2, worse than 1st estimate

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OKYO—Japan’s economy shrank at a record, even worse rate in the AprilJune quarter than initially estimated.

The Cabinet Office said Tuesday Japan’s seasonally adjusted real gross domestic product contracted at an annualized rate of 28.1 percent, worse than the 27.8 percent figure given last month.

The coronavirus pandemic, which has people staying home, restaurants and stores empty or closing, and travel and tourism nose-diving, has hurt all the world’s economies and many companies. But it has slammed Japan’s export-reliant economy.

Restoring growth will be a priority as the country prepares to choose a new leader to replace Prime Minister Shinzo Abe, who is resigning for health reasons.

A vote among governing party members is expected next week.

Other data released on Tuesday showed cash earnings improving somewhat, and consumer spending and other business activity is expected to rebound following the sharp drops as the country sought to bring the coronavirus pandemic under control.

“However, high-frequency data show that growth is struggling to gain pace, suggesting a very gradual and protracted recovery after the initial bounce. The nearterm outlook therefore remains challenging,” Oxford Economics said in a commentary.

Quar ter- on- quar ter, the economy contracted 7.9 percent, according to the

revised figures, down from 7.8 percent in the preliminary data.

The annual rate shows what the number would have been if continued for a year.

The Cabinet Office said the government began keeping comparable records in 1980. The previous worst contraction, a 17.8-wpercent drop, was in the first quarter of 2009 during the global financial crisis. But anecdotally the latest drop is considered the worst since World War II. Japan had already slipped into recession in the first quarter of this year, contracting by an annualized 2.3 percent. It shrank 7.0 percent in the final quarter of last year. Recession is generally defined as two consecutive quarters of contraction. Growth was flat in July-September of last year.

Domestic demand contracted even worse in this year’s second quarter, as private investment fell. Public demand, driven by government spending, also fared worse than thought earlier.

Abe has centered his “Abenomics” p o l i c i e s o n ke e p i n g t h e e c o n o m y going through super-easy lending and deregulation. The approach relied mostly on monetary easing by the central bank and helped to end years of deflation. But it never attained the sustained growth rates Abe had targeted.

All of the candidates to replace him are expected to keep most of those policies in place. AP

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crewmember was recovered before a second typhoon halted the search.

The aerial search had resumed late Monday. Coast Guard officials said two patrol ships were back at sea on Tuesday after the waters calmed.

Rescuers have seen dozens of cows carcasses, an empty raft, a life vest carrying the ship’s name and a bundle of rope floating in the area. They also found traces of fuel in

A5

Scorched earth: 2 million acres burned in California

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HAVER LAKE, California—Wildfires have burned a record 2 million acres in California this year, and the danger for more destruction is so high the US Forest Service announced on Monday it was closing all eight national forests in the southern half of the state.

After a typically dry summer, California is parched heading into fall and what normally is the most dangerous time for wildfires. Two of the three largest fires in state history are burning in the San Francisco Bay Area. More than 14,000 firefighters are battling those fires and dozens of others more around California.

A three-day heat wave brought triple-digit temperatures to much of the state during Labor Day weekend. But right behind it was a weather system with dry winds that could fan fires. The state’s largest utility, Pacific Gas & Electric, was preparing to cut power to 158,000 customers in 21 counties in the northern half of the state to reduce the possibility its lines and other equipment could spark new fires.

Randy Moore, regional forester for the Forest Service’s Pacific Southwest Region that covers California, announced the national forest closures and said the decision would be reevaluated daily.

Campgrounds at all national forests in the state also were closed. “ T he w i ldf ire situation throughout California is dangerous and must be taken seriously,” Moore said. “Existing fires are displaying extreme fire behavior, new fire starts are likely, weather conditions are worsening, and we simply do not have enough resources to fully fight and contain every fire.”

Lynne Tolmachoff, spokesman for the California Department of Forestry and Fire Protection, or Cal Fire, said it’s “unnerving” to

have reached a record for acreage burned when September and October usually are the worst for fires because vegetation has dried out and high winds are more common. The previous high was 1.96 million acres burned in 2018. Cal Fire began tracking the numbers in 1987.

W h i le t he t wo m a m mot h Bay Area fires were largely contained after burning for three weeks, firefighters struggled to corral several other major blazes ahead of the expected winds.

Evacuation orders were expanded to more mountain communities Monday as the largest blaze, the Creek Fire, churned through the Sierra National Forest in Central California.

It was one of many recent major fires that displayed terrifyingly swift movement. The fire moved 15 miles (24 kilometers) in a single day and burned 56 square miles (145.04 square kilometers).

Debra Rios wasn’t home when the order came to evacuate her hometown of Auberry, just northeast of Fresno. Sheriff ’s deputies went to her ranch property to pick up her 92-year-old mother, Shirley MacLean. They reunited at an evacuation center.

“I hope like heck the fire doesn’t reach my little ranch,” Rios said.

“It’s not looking good right now.

It’s an awfully big fire.”

Mountain roads saw a steady stream of cars and trucks leaving the community of about 2,300 on Monday afternoon.

Firefighters working in steep terrain saved the tiny town of

Shaver Lake from f lames that roared down hillsides toward a marina. About 30 houses were destroyed in the remote hamlet of Big Creek, resident Toby Wait said.

“About half the private homes in town burned down,” he said.

“Words cannot even begin to describe the devastation of this community.”

A school, church, library, historic general store and a major hydroelectric plant were spared in the community of about 200 residents, Wait told the Fresno Bee. Sheriff ’s deputies went door to door to make sure residents were complying with orders to leave.

Officials hoped to keep the fire from pushing west toward Yosemite National Park.

The Creek Fire had charred more than 114 square miles (295 square kilometers) of timber after breaking out Friday. The nearly 1,000 firefighters on the scene had yet to get any containment. The cause had not been determined.

On Saturday, National Guard rescuers in two military helicopters airlifted 214 people to safety after flames trapped them in a wooded camping area near Mammoth Pool Reservoir. Two people were seriously injured and were among 12 hospitalized.

On Monday night, a military helicopter landed near Lake Edison to rescue people trapped by the Creek Fire, the Fresno Fire Department said on Twitter.

Chief Warrant Officer Joseph Rosamond, the pilot of a Chinook helicopter, said visibility was poor and winds increasingly strong during the three flights he made into the fire zone. His crew relied on night-vision goggles to search for a landing spot near a boat launch where flames came within 50 feet (15.24 meters) of the aircraft.

The injured, along with women and children, took priority on the first airlift, which filled both helicopters to capacity, he said.

“We started getting information about how many people were out there, how many people to expect, and that number kept growing. So we knew that it was a dire

situation,” Rosamond said.

Rosamond called the conditions “extreme” and said it was one of the most difficult flying missions in his 25 years as a military pilot.

Record-breaking temperatures were driving the highest power use of the year, and transmission losses because of wildfires have cut into supplies. Throughout the holiday weekend, the California Independent System Operator that manages the state’s power grid warned of outages if residents didn’t reduce their electricity usage. But none had occurred by late Monday afternoon.

Pacific Gas & Electric warned it might cut power starting late Monday because of the increased fire danger. Some of the state’s largest and deadliest fires in recent years have been sparked by downed power lines and other utility equipment.

PG&E received criticism for its handling of planned outages last year. The utility said it has learned from past problems, “and this year will be making events smaller in size, shorter in length and smarter for customers.”

In Southern California, crews scrambled to douse several fires that roared to life in searing temperatures, including one that closed mountain roads in Angeles National Forest and forced the evacuation of the historic Mount Wilson Observatory.

Cal Fire said a blaze in San Bernardino County called the El Dorado Fire started Saturday morning and was caused by a smokegenerating pyrotechnic device used by a couple to reveal their baby’s gender. In eastern San Diego County, a fire destroyed at least 10 structures after burning 16 square miles (41.44 square kilometers) and prompting evacuations near the remote community of Alpine in the Cleveland National Forest.

California has seen 900 wildfires since August 15, many of them started by an intense series of thousands of lightning strikes in mid-August. There have been eight fire deaths and more than 3,300 structures destroyed. AP

Samsung wins $6.65-B contract for 5G network

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amsung Electronics Co. will develop 5G network infrastructure for Verizon Communications under a $6.65 billion deal announced on Monday.

The contrac t runs through 2025, according to a Samsung corporate filing.

Samsung and Verizon have worked together before. In 2018, for example, Samsung technology was behind a 5G home service that Verizon offered to some customers in California, Texas and Indiana.

“Samsung has demonstrated their

commitment to collaborating with us to drive innovation in 5G,” New York-based Verizon said in a statement. “We are excited to expand our relationship with them and benefit from a long-term strategic agreement.”

Samsung said its expanded partnership with Verizon will allow the companies to “push the boundaries of 5G innovation to enhance mobile experiences for Verizon’s customers.”

“We’re excited to continue delivering

on breakthrough network technologies that will expand what’s possible through 5G,” the company said in a statement.

The South Korean technology giant beat out rivals like Finland’s Nokia, which has collaborated with Verizon in the past.

But one 5G rival—China’s Huawei Te c h n o l o g i e s L t d . — w a s n’ t i n t h e running for the contract. Huawei has been largely absent from the US since 2 0 1 2 , w h e n a c o n g re s s i o n a l p a n e l warned phone carriers to avoid it. The

Search for missing livestock ship crew off Japan resumes OKYO—Japanese coast guard ships resumed searching on Tuesday for a livestock ship and its 40 missing crewmembers off Japan’s southern islands after the efforts were suspended due to a typhoon.

The Gulf Livestock 1 sent a distress signal early Sept. 2 while it was sailing in stormy conditions in the East China Sea as a typhoon passed the area. Two survivors were rescued and the body of a third

Wednesday, September 9, 2020

the water, a sign of the ship’s submersion.

The Gulf Livestock 1 left New Zealand in midAugust carrying 5,800 cows to Tangshan on China’s eastern coast. New Zealand temporarily suspended new approvals for exporting live cows after the ship’s sinking.

The first survivor, a chief officer from the Philippines rescued last Wednesday, told Coast Guard officials that the ship stalled when an

engine stopped, then capsized after being hit broadside by a powerful wave and sank. A second survivor, a Filipino deckhand, was rescued on Friday while floating in a raft.

The total crew included 39 from the Philippines, two from New Zealand and two from Australia. The body of the crewmember that died has not been identified.

The ship’s operator, Dubai-based Gulf Navigation Holdings PJSC, owns and

operates chemical tankers, livestock vessels and other ships. It issued a statement last week praying for more survivors among the crew and expressing regret for the lost livestock.

The Philippine Department of Foreign Affairs earlier said the country was coordinating with the ship owner and the Japanese coast guard and it remained hopeful other Filipino crewmembers would be found. AP

US says it’s a security risk to give China too much access to 5G systems, which are expected to support self-driving cars, factory robots and other applications.

More recently, the Trump administration has been pressuring European companies not to work with Huawei. In February, Attorney General William Barr said the US government should consider taking a “controlling stake” in the European companies Nokia and Ericsson to thwart Huawei’s global ambitions. AP

A6 Wednesday, September 9, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Why food subsidy is worth considering

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hile most of the world was under lockdown, farmers and fishermen were among those not covered by lockdown restrictions so they can supply food required by citizens who stayed home to avoid the spread of Covid-19. In the Philippines, the government even classified them as “frontliners,” on a par with those working in health-care facilities, so they can go out to their farm or venture out to sea to help the government iron out kinks in the supply chain. Filipino farmers heeded the call of the government to continue producing food even as they also faced uncertainty due to mobility restrictions that prevented some traders from immediately transporting food items to urban areas.

Farm production was relatively uninterrupted in the Philippines even as demand for many food items, including those served by local restaurants, fell drastically due to the shift to home-cooked meals (See, “Shift to home-cooked meals boosts RFM income in H1,” in the BusinessMirror, July 30, 2020). Also, the decision of households to tighten belts and cut the purchase of food items considered unnecessary while the country was under lockdown contributed to the fall in demand for farm produce like sugar. These factors resulted in a glut of some food items and consequently pulled down the farmgate prices of some agricultural products.

Exacerbating the demand situation is the fact that many workers lost their jobs while the country was under lockdown, according to the latest data released by the Philippine Statistics Authority. While unemployment rate eased to 10 percent in July compared to the record-high 17.7 percent in April, the figure means that more than 4.5 million Filipinos were unemployed during the period (See, “As jobless rates stay high, growth ‘limping,’” in the BusinessMirror, September 4, 2020).

The loss of livelihood forced these jobless workers and members of their families to reduce consumption and cut spending on certain items, including food.

One of the proposals pitched by local producers to ease the supply glut is to temporarily suspend imports (See, “Poultry raisers urge DA to halt chicken imports,” in the BusinessMirror, May 12, 2020).

Sugar millers belonging to the Philippine Sugar Millers Association are also pushing for a higher export quota from the United States as local sugarcane production in crop year 2020-2021, which kicked off on September 1, is expected to hit a four-year high (See, “Sugar millers seeking higher export volumes for US,” in the BusinessMirror, August 28, 2020). Increasing the sugar quota of the Philippines, which is currently at 136,201 metric tons (commercial weight), is expected to help ease the supply glut.

The government may also consider the proposal put forward by the Philippine Chamber of Agriculture and Food Inc. The group said the Department of Agriculture should consider giving food subsidy to medical frontliners and jobless Filipinos to help boost demand for agricultural products (See, “Govt told: Give food subsidy to frontliners, jobless Pinoys,” in the BusinessMirror, September 7, 2020). We urge the government to consider this proposal and include medical frontliners and those belonging to the so-called Bottom 30 who lost their jobs to get food subsidy during the pandemic.

Giving food subsidy to those who need it the most will be beneficial for Filipino farmers, as this would create a ready market for their crops.

Government can consider partnering with the private sector, which could help subsidize food packs for the poor and their own employees.

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BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor Senior Editors

Online Editor Creative Director Chief Photographer Chairman of the Board & Ombudsman President Advertising Sales Manager Group Circulation Manager

Aurora C. Ignacio

All About Social Security What is SSS and why do I need to contribute?

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or new members of the Social Security System (SSS), this is one of the basic questions that we hear when they transact with us.

Fresh graduates are naturally curious about everything, especially about the value and importance of their membership with SSS. As part of the employment process, they are asked to get an SS number, which is required by every employer. Now, they can apply for an SS number online, so it is easier, simpler and faster unlike before when it is applied over the counter.

For SSS members, membership is a lifetime commitment, thus we say, once a member, always a member.

Even with one contribution, one is entitled to receive such benefit, even his beneficiary. Even those who have stopped paying their contributions for years, they still get something from SSS. However, in most cases, it is more beneficial if members are regularly paying their SSS contributions because it is one’s savings and investment for future contingencies and retirement as well. Not only that, as workers, we have something to look forward to in times when something happens to us. It is our protection and our security.

Indeed, the salary and the em-

ployee benefits are everyone’s concern when joining any organization or company. Most workers are also breadwinners who have to support their families with their daily needs, provide quality education for their children and live comfortably. During these challenging times while we are in the middle of a pandemic and money is limited, we would like to make sure that our hard-earned financial resources are spent conscientiously.

I remember three important words that Senator Richard Gordon, one of the authors of Republic Act 11199 or the Social Security Act of 2018, said in one of our hearings before the passage of the SSS Law…

Lourdes M. Fernandez

Dennis Gorecho

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso Ruben M. Cruz Jr. Eduardo A. Davad Nonilon G. Reyes Judge Pedro T. Santiago (Ret.) Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

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“work, save and prosper.”

About 20 to 40 years of our life are dedicated to working and earning. However, we have yet to adopt a culture of financial literacy where we should have our own personal savings, aside from our private or government pension fund and pension plans, so that when we reach our retirement age, we can live comfortably without ne eding any help from anyone, even from our children.

If you look at your pay slip, there’s a portion that says “SSS Contributions.” Consider that as your monthly “savings,” which you and your employer put into your SSS account.

Currently, SSS contributions are pegged at 12 percent, where the employer shoulders 8 percent of it and the 4 percent is from their employees. For self-employed, voluntary and overseas Filipino workers, they pay the full 12 percent due to the absence of an employer. These are the same contributions that you can tap in times of contingency brought about by sickness, maternity, disability, unemployment, and death. For employed workers, they have an added protection from the Employee’s Compensation Commission where they can also get paid for work-related contingencies such as sickness, disability and death.

Aside from the benefits that SSS offers, members are also entitled to various loan privileges such as Salary, Calamity, Educational As-

sistance, among others. SSS employer-members are also qualified to avail themselves of our Business and Social Development Loan Facilities, particularly for those who are engaged in tourism, hospital operations, education, etc.

For 63 years, we never failed our members. We continued providing their benefits in times of need. Just like our theme, “Responding to the times through ExpreSSS,” the agency now offers the enhanced SSS online services that aim to provide our members, employers, pensioners, beneficiaries, and the public with simple, faster, and more convenient means of registration, filing of benefits and loans, and other transactions. As a brand, it is a product of our continuous digital transformation efforts over the years to expand the use of digital technologies for the prompt delivery of our services, wherever and whenever they are needed.

At SSS, we are doing everything in our power to be able to keep our mandate to promote social equality and provide meaningful protection to you, our members. This is our promise. This is our purpose. We will always be your kabalikat.

Aurora C. Ignacio is SSS president and chief executive officer.

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

Entitlement to disability benefits despite recovery

T. Anthony C. Cabangon

BusinessMirror is published daily by the Philippine Business Daily Mirror

MEMBER OF

Knowing the value of your SSS membership

Pinoy Marino Rights

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he seafarer’s recovery from his illness or injury will not negate his entitlement to total permanent disability benefits.

Total disability does not mean absolute helplessness since it is not the injury that is compensated but rather it is the incapacity to work resulting in the impairment of one’s earning capacity.

The Supreme Court reiterated this principle in the case of Sealanes Marine Services Inc. v. Arnel de la Torre (GR 214132, February 18, 2015) as it stressed that it is of no consequence that the seafarer was cured after a couple of years in connection with his disability compensation.

The seafarer was medically repatriated after he suffered a lower back injury due to an accident during the crew’s rescue boat drill on August 1, 2010.

After undergoing several physical therapy sessions, the companydesignated physician finally assessed the seafarer on March 10, 2011 with a

Grade 11 disability for slight rigidity or one-third loss of motion or lifting power of trunk. He was informed of the assessment, however, only in May 2011, or more than 240 days since the accident.

The Supreme Court affirmed earlier rulings by the NLRC and Court of Appeals that the seafarer is entitled to total disability benefits as he continued with his rehabilitation even after the company’s Grade 11 disability rating issued on March 10, 2011.

The disability rating was intended merely to comply with the 240-day limit for the company-designated physician to either declare him fit

to work or to assess the degree of his permanent disability.

The medical assessment of the company-designated physician is not the alpha and the omega of the seafarer’s claim for permanent and total disability.

The Supreme Court explained that the POEA Standard Employment Contract (POEA SEC) provides merely for the basic or minimal acceptable terms of the contract.

In the assessment of whether his injury is partial and permanent, the same must be so characterized not only under the Schedule of Disabilities in Section 32 of the POEA SEC, but also under the relevant provisions of the Labor Code and the AREC implementing Title II, Book IV of the Labor Code.

In Kestrel Shipping Co., Inc. v. Munar (GR 198501, January 30, 2013), the Supreme Court explained that: (a) the 120 days provided under Section 20(B)(3) of the POEA SEC is the period given to the employer to determine fitness to work and when the seafarer is deemed to be in a state of total and temporary disability; (b) the 120 days of total and temporary disability may be extended up to a maximum of 240 days should the sea-

farer require further medical treatment; and (c) a total and temporary disability becomes permanent when so declared by the company-designated physician within 120 or 240 days, as the case may be, or upon the expiration of the said periods without a declaration of either fitness to work or permanent disability and the seafarer is still unable to resume his regular seafaring duties.

The company tried to contest the award by showing that seafarer was able to work again as a chief mate in March 2001.

The Supreme Court disregarded the company’s argument as it reiterated its ruling in Crystal Shipping, Inc. v. Natividad ( GR 154798, October 20, 2005) that it is of no consequence that the seafarer recovered from his illness or injury.

The information does not alter the fact that as a result of his illness, the seafarer was unable to work as a chief mate for almost three years.

The Court stressed that the law does not require that the illness should be incurable.

What is important is that he was unable to perform his customary work for more than 120/240 days, See “Gorecho,” A7

Opinion BusinessMirror

www.businessmirror.com.ph

Philippine Machinery Management Services Corporation Atty. Dennis B. Funa

INSURANCE FORUM

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he Philippine Machinery Management Services Corp.

(PMMSC) or also known as ‘the “MacPool”) is an insurance pool that is dedicated to offering Construction and Engineering Insurance.

This insurance pool was conceptualized in 1955 when four domestic insurers and the German reinsurance company Munich Re got together with an idea to offer engineering insurance collaboratively.

The reinsurance treaty that Munich Re offered required the formation of this pool. This idea was concretized in 1961 with the formation of MacPool. The pool was launched with an Erection All Risks (EAR) Policy for the Central Philippines Milling Corporation, its first client. With the construction boom of the 1960s, the pool was an instant success. On February 22, 1995, it was registered with the SEC as a corporation and changed its name from MacPool to the current PMMSC. The corporation is run by a seven-man Board of Directors. The incorporation was triggered by a tax case decided by the Court of Tax Appeals on October 19, 1992 and affirmed by the Court of Appeals on October 11, 1993 which found the “Pool of Machinery Insurers” liable for corporate tax (Afisco Insurance Corp. et al. v. Court of Appeals, et al., GR 112675, January 25, 1999). The pool had originally claimed that it was an organization exempt from income tax since it was merely a “clearing house” and an “informal partnership.” There was no precedent for insurance pools during this time.

Today, this insurance pool is a pillar of the country’s construction and engineering industry. The pool now comprises 41 members, as of December 31, 2019, of which six are inactive cedants. This comprises most of the non-life insurers in the country. Included in the pool is the Government Service Insurance

Gorecho. . .

continued from A6

and this constitutes total permanent disability.

Back pains or spine injuries or illnesses are inherent in a seafarer’s job characterized by excessive and strenuous physical activities, such as lifting, carrying, pushing, pulling and moving heavy equipment and materials.

The common back injuries or illness include lumbar spondylosis, lumbar radiculopathy, multi-level disc dessication, posterior disc herniation, or canal stenosis.

Companies cannot deny the fact

It has been said that the rules on pricing engineering insurance products in the Philippines is “vague” due to the lack of tariff. The idea of pooling should remove any large pricing discrepancies in the market.

System (GSIS). The pool has been consistently profitable for over 10 years. The latest available published premium income figures show a gross premium income of over P300 million. The insurance combined ratio for 2012 was at 67.71 percent, down compared to 77.47 percent in 2011, reflecting favorable underwriting results. The combined ratio measures whether the insurance company is earning more revenues from its collected premiums relative to the claims it pays out.

It has been said that the rules on pricing engineering insurance products in the Philippines is “vague” due to the lack of tariff. The idea of pooling should remove any large pricing discrepancies in the market.

The pool members retain around 45 percent of the risk internally, cede (reinsure) 2.25 percent to NatRe and the balance of 47.5 percent to MunichRe who remains to this day the pool’s reinsurance partner. It manages its own claims servicing.

Among its insurance products are the Contractors’ All Risks, the EAR, the Machinery Insurance, the Machinery Loss of Profits, the Boiler and Pressure Vessel, the Electronic Equipment Insurance, the Deterioration of Stock and the Civil Engineering Completed Risks. Most premiums are generated from CAR policies. that a seafarer suffering from any of these medical conditions will be considered more of a liability than an asset if he is allowed to go on board the vessel.

He would no longer be able to perform strenuous activities such as the rigorous duties of a seafarer.

An award of a total and permanent disability benefit would be germane to the purpose of the benefit, which is to help the employee in making ends meet at the time when he is unable to work.

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

Is the Senate at loggerheads with the House over juvenile crime?

Dr. Jesus Lim Arranza

MAKE SENSE

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have already discussed this topic in one of my columns, particularly about the fact that children are being used by unscrupulous criminals and/or crime syndicates to commit atrocities because they can escape liability. This is true in the case of illegal drugs syndicates where children below 18 are being used as couriers, among others, to avoid prosecution by exploiting the provisions of Republic Act (RA) 9344 otherwise known as the Juvenile Justice Welfare Act. Section 6 of the Act states that a child 15 years of age or under at the time of the commission of the offense shall be exempt from criminal liability. However, the child shall be subjected to an intervention program pursuant to Section 20 of this Act. Moreover, the Act also states that a child above 15 years but below 18 years of age shall likewise be exempt from criminal liability and be subjected to an intervention program, unless he/she has acted with discernment, in which case, such child shall be subjected to the appropriate proceedings in accordance with this Act. While Section 7 of the same Act says a child in conflict with the law shall enjoy the presumption of minority, he/she shall enjoy all the rights of a child in conflict with the law until he/she is proven to be 18

years old or older.

I remember questioning the jurisprudence of the Senator Francis Pangilinan-sponsored Juvenile Justice Welfare Act then, as it runs in conflict with an existing law in terms of determining the age of discernment among minors to know what is right or wrong.

RA 7160 otherwise known as the Local Government Code of 1991 provides that young people aged 15 to 21 can take custody of all Sangguniang Kabataan property and funds not otherwise deposited with the city or municipal treasurer, collect and receive contributions, monies, materials, and all other sources intended for the Sangguniang Kabataan and Katipunan ng Kabataan and disburse funds in accordance with an approved budget of the Sangguniang

Bloomberg Opinion

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he state shall not establish an official religion.”

It would be presumptuous to suggest that the American Bill of Rights inspired Sudanese Prime Minister Abdalla Hamdok and rebel leader Abdel-Aziz al-Hilu. But if their invocation of the establishment clause was unintended, it was no less portentous for that. The principle of separation of faith and state is enshrined in the accord they signed in Addis Ababa last Thursday, effectively ending 30 years of Islamic rule.

The significance of this seems to have escaped the Trump administration, which has responded to the accord in the most anodyne terms. But this

is, if anything, a more consequential achievement than the normalization of Sudan’s relations with Israel, which seems to have been Secretary of State Mike Pompeo’s goal during his visit to Khartoum late last month. (He failed.)

A separation of religion and state has rarely been achieved in the Muslim world without violence or the will of a dictator. Indeed, both were in abundance when Islamic rule was imposed on Sudan in 1989 by the tyrant Omar al-Bashir. Like other despots before and since, he hoped religious law would legitimize his seizure of power. He claimed it would turn his poor, Muslim-majority country into “the vanguard of the Islamic world.”

If his religiosity was false, his ruthlessness was all too real: Bashir’s rule was marked by brutal attempts to

Can we consider the enactment of RA 7344 as a classic example of a legislative lapse or oversight that raised many questions in the public’s mind? How prudent and diligent are our legislators in passing laws? Did our legislators do their homework in passing the Juvenile Justice Welfare Act and checked whether its provisions are not in conflict with existing laws?

Kabataan, among others.

Clearly, with all the responsibilities granted to them under RA 7160, 15-year-old youths are considered to have the proper discernment to know what is right or wrong. Meanwhile, under RA 7344, crime offenders aged below 18 years old are exempted from criminal liability, unless the atrocities were done with discernment.

These two provisions of the law that provide the age when a person shall have discernment to know what is right or wrong are running in conflict with each other. Which law shall then apply in determining the age of discernment of offenders?

Can we consider the enactment of RA 7344 as a classic example of a legislative lapse or oversight that raised many questions in the public’s mind? How prudent and diligent are our legislators in passing laws? Did our legislators do their homework in passing the Juvenile Justice Welfare

Act and checked whether its provisions are not in conflict with existing laws? Who should be accountable for such legislative lapse/oversight?

Would filing for Declaratory Relief on the jurisprudence of the conflicting provisions of the two laws be appropriate at this time? Would there be existing laws that were passed mostly because of “pakikisama” (goodwill)? And what is holding our legislators from deciding expeditiously on the proposed amendments to the Juvenile Justice Welfare Act? Meanwhile, as the two Houses of Congress, especially their oversight committees, are kept busy with a lot of other things than to amend the conflicting provisions of the Juvenile Justice Welfare Act, criminal syndicates continue to prey on the minors by using them in their criminal activities. And after watching the news on TV showing how a 16-year-old boy running away with a stolen tarp from a truck was caught, but endorsed only to the DSWD for intervention, who knows if the next victim of an even more heinous crime by a child offender could be you or someone you love. We certainly don’t want this to happen.

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

ENTREPRENEURS’ FOOTPRINTS

The age of survival entrepreneurship

By Dr. Carl Balita

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he pandemic experience is not all bad. There are blessings that come as great surprises to humanity trying to navigate the new normal. While many people have suffered the negative impact of the economic and health crisis, there are opportunities that emerged—by choice and by chance.

Survival entrepreneurship has become the lifesaver of three kinds of people in the time of the pandemic. First are those who lost their jobs and livelihood and need to survive through means within their capacity. Second are those who, in the pursuit of their passion, are able to produce something that gets the attention and patronage of a market, usually within their sphere of influence. And third, those businesspeople that are forced into pivoting their business to be able to survive and remain relevant in the changing times. The pandemic has nested entrepreneurs locked down at homes but accessing the power of social media and digital space to soar into business above the pandemic.

Survival entrepreneurship is highly evident among the millennials, the digital natives, who were labelled notorious for their restless and reckless nature, and misinterpreted as being a selfish generation. Their character, in fact, is demonstrating some excellent entrepreneurial inclinations. They belong to a purpose-driven generation searching for meanings in what they need, what they want, and whom

they patronize. They work and spend for a lifestyle as they are guided by the YOLO principle—you only live once.

The creative millennials, being the biggest chunk of the population, are significant in number and are very comfortable with the digital world to navigate this new normal of entrepreneurship.

Years from now, we will look back at 2020 not only as the year of the Covid-19 pandemic, but also as the year of the entrepreneurs.

Tracing back its roots, the term entrepreneurship was coined from the two Latin words “entre,” to swim out, and “prendes,” to grasp, understand or capture. It was the FrenchIrish Economist Jean-Baptiste Say who popularized the word entrepreneur in 1800. In its original context, entrepreneurs were “resource hackers” who were able to scant resources to create innovative products. In his 1800 Treatise on Political Economy, Say wrote, “the entrepreneur shifts economic resources out of the area of lower into an area of higher productivity and greater yield.” There was however a revelation, through an investigation, that as early as 1755,

Sudan needs help to successfully end Islamic rule

By Bobby Ghosh

Wednesday, September 9, 2020 A7

suppress dissent and crush uprisings, usually among non-Arab minorities, in the western and southern regions of the country. But if anything, the imposition of Islamic law added impetus to separatist movements, culminating in the 2011 independence of South Sudan.

Bashir was toppled by a peaceful protest movement last year, allowing Sudan a fresh start. It has gone remarkably well so far. The transitional government, made up of civilian representatives and military brass, has until the summer of 2022 to make way for a real democracy.

It has announced a string of dramatic social and political reforms, dropping laws imposed by Bashir in the name of Islam. Among other things, it has abolished a law against apostasy,

ended punishment by flogging, criminalized female genital mutilation— and even loosened prohibitions on the sale and consumption of alcohol.

A draft constitution drawn up for the transitional period made no reference to Sharia Law, but stopped short of formally separating religion and state.

This concession was opposed by top military officials, but they were faced down by the protesters.

In the meantime, Bashir’s ouster allowed the transitional government to begin good-faith negotiations with several rebel groups. At the end of August, all but two signed a historic deal, which promises the rebels political representation and integration into the security forces, as well as greater autonomy for their restive regions.

It was one of the holdouts that fi-

Richard Cantillon, in his Essay on the Nature of Trade in General, already cited that entrepreneurs are non-fixed income earners who take risk and pay unknown costs of production to earn uncertain incomes. And during the Great Depression from 1929 to 1939, Joseph Schumpeter formulated the Theory of Economic Development (1934) and cited entrepreneurs as drivers of change and progress. History tells us that entrepreneurs were born out of crisis.

This Covid-19 pandemic has opened great doors of opportunities for entrepreneurs who are willing to explore the unknown. From the hobbyists who realized that what they create and post on social media may actually sell to friends and neighbors, to the intentional producers of what people need and want, the entrepreneurs are responding to what others are willing to patronize and buy. From the businesspeople that in desperation observe existing gaps on how a market is served to the people who lost their jobs and who need to find a way to earn a living, the entrepreneurs are taking the leadership to be self-reliant. From a creative pursuit of what is not yet available for the market to an innovative improvement of what is already available, the entrepreneurs are solving some problems. Entrepreneurs are innovative problem-solvers and are ready to seize the many problems and offer solutions.

However, the survival entrepreneurs may need to take entrepre-

neurship beyond survival. They need to establish a long-term vision of growing the business through an enterprise they should start building, with a team that they should start empowering, and toward a pursuit of greater purpose beyond profit and financial gains. The survival entrepreneurs should be intentional lifelong learners who are reflective of the lessons learned through experience, which no book or education can teach. They should see the big picture of the internal and external environments and brace for the envisioned ideal future anchored on a moral compass that is valued and shared to its people. Survival entrepreneurs should understand the changing needs and behavior of the market it serves, and should relentlessly innovate to improve the product or service.

Beyond survival, the entrepreneurs born of the pandemic should explore the possibility of entrepreneurship as a way of life. And the entrepreneurial journey extends beyond survival toward a more meaningful blessing derived from the pandemic experience. Even if survival entrepreneurs are engaged in business by neither intention nor design, they are learning the lessons that are imperative to move forward. The survival entrepreneurs should never lose that chance to take the road less travelled, and in the future when they look back, they can say that this pandemic is a blessing in disguise.

nally administered the coup de gras on Bashir’s “Islamic” Sudan. The Sudan People’s Liberation Movement - North (SPLM-N) insisted that it would only agree to peace if the government explicitly committed to a secular state— which Hamdok did in last Thursday’s accord.

The deal is done, but not quite dusted. The “final” peace deal between the transitional government and the rebels is expected to be signed early next month, giving Hamdok three weeks to persuade the final holdout group.

Arrangements must be made for the return of millions displaced by the rebellions and government crackdowns.

The regions will require massive investments to repair the damage of war and make up for decades of neglect. It is not clear where the government will

find the money for all this.

Bashir faces a trial in the International Criminal Court on charges of genocide and war crimes, but there are political groups that will still oppose the separation of religion and state—and they will have at least the tacit backing of some powerful military men.

Hamdok might be able to count on the protest movement to help defend the political changes, but his other pressing problems may be harder to solve. The economy, which was moribund even before the debilitating impact of the coronavirus pandemic, now faces a new crisis: devastating floods. Sudan is $1.3 billion in arrears to the International Monetary Fund and external debt will top $55 billion this year.

A8 Wednesday, September 9, 2020

Dive resorts already open sans DOT rules

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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HE Department of Tourism (DOT) is preparing new guidelines in the operation of scuba diving establishments, in keeping with new health and safety protocols while dealing with Covid-19.

Among the proposed measures, according to draft guidelines obtained by the BusinessMirror, is the operation of dive establishments at 50-percent capacity under a modified general community quarantine (MGCQ), and the accommodation of guests only from MGCQ area.

Aside from the usual health screening procedures, guests shall be required to bring their own set of scuba gear, instead of renting from the establishment. Resorts will also be required to provide defogging solutions, limit members of the group dives, prepare packed meals for boat diving, among others, It was learned, however, that a number of dive resorts are already operating under guidelines from their respective local government units (LGU).

After visiting a Batangas dive resort last week, a source who requested anonymity said, “They have very strict guidelines from the LGU. They need a permit to operate which they get after their resort has passed

inspection. Once given a permit, they are only allowed to operate at 30-percent capacity and their guests are required to produce a travel permit and health certificate.”

The source added, she also had to show the results of her RT-PCR Covid test to the resort.

The Philippine Commission on Sports Scuba Diving (PCSSD), an attached agency of the DOT, had sent out draft guidelines on dive establishments in July for comments, but due to the lack of responses, has yet to finalize it.

Diving is one the top products being developed under the National Tourism Development Plan 20162022, a road map to achieve DOT’s goals in the areas of revenue, arrivals, contribution to the economic growth, and employment.

Per the PCSSD, there are 177 accredited dive establishments and liveaboards, as well as 39 voluntary and 65 declared dive individuals in the country as of September 7, 2020.

“When the situation is better and with the easing of travel restrictions around the world, we hope to again showcase to divers not only our underwater jewels and biodiversity, but also our brand of culture and hospitality,” said Tourism Secretary Bernadette Romulo Puyat in a news statement.

Continued on A2

₧1.5B in budget boost for dairy program pitched

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By Jasper Emmanuel Y. Arcalas

@jearcalas

ITH the country’s lackluster milk performance in focus from parallel hearings in the Senate and the House of Representatives, stakeholders have urged Congress to increase the budget of the government’s dairy programs and revisit existing projects to be able to improve milk sufficiency levels that now stand at a dismal 1 percent.

The lackluster performance was flagged amid an observation that the National Dairy Authority (NDA) and the Philippine Carabao Center have been existing for 25 years and 28 years, respectively.

The Philippine Chamber of Agriculture and Food Inc. (PCAFI) wrote to the chairmen of the Agriculture Committees of the House

of Representatives and the Senate to express their concerns and recommendations for the budget allocated for the livestock industry next year.

The House Committee on Agriculture is chaired by Quezon 1st District Rep. Wilfrido Mark Enverga while the Senate Committee on Agriculture and Food is headed

by Sen. Cynthia A. Villar.

In his letter, PCAFI President Danilo V. Fausto said the dairy sector is a “low-hanging fruit” that could contribute “tremendously” to the country’s agriculture sector and economy if given the “appropriate support” from the government.

Fausto noted that the country is only capable of producing 1 percent of the estimated total milk demand of about 2.052 million metric tons (MMT) at a 19 liters per-capita consumption.

He explained that the country would need a 2.4 million dairy herd, with 800,000 of which being in the

milk line in order to meet the annual demand.

“Current dairy animal stock of the Philippines has a total of 20,00 dairy cattle and carabaos combined, producing a pitiful 1 percent of the country’s total requirement, 41 years after the congressional passage of a law [Batasang Bilang 21] known as the Dairy Industry Development Act and followed by the National Dairy Development Act of 1995 [RA7884],” said Fausto’s letter.

Due to the dismal local production, the country has been virtually importing all of its milk requirements worth $1 billion from New Zealand, Australia, and the United States with the majority of which in powdered form, Fausto noted.

However, the sale of fresh milk has “an undisputed competitive advantage” over imported powered, reconstituted and ultrahigh temperature (UHT) milk, he pointed out.

The group thus recommended that an additional P1.5 billion budget be allocated to the NDA to kick-start a five-year program that can hike the country’s milk sufficiency from the dismal 1 percent to as much as 3 percent to 5 percent.

PCAFI proposed that P750 million of the additional fund be used to import 5,000 heads of dairy cattle for an initial dairy herd build-up, with the target of reaching 25,000 heads in the next five years.

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BTr raises ₧30B from T-bonds auction

By Bernadette D. Nicolas

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@BNicolasBM

HE Bureau of the Treasury easily raised P30 billion as investors swamped Tuesday’s auction of three-year Treasury Bonds (T-bonds).

The auction was almost four times oversubscribed with total bids for the security reaching P87.963 billion.

With strong demand for the new bond offer, the Treasury also ended up opening the tap facility for an additional P15-billion offer.

The tenor fetched a coupon rate of 2.279 percent.

National Treasurer Rosalia V. de Leon told reporters this is within the secondary pricing since the benchmark rate is 2.35 percent.

De Leon said investors prefer the tenor, which she called a “sweet spot with lower duration risk.”

The Treasury is set to borrow a total of P160 billion from the local debt market this month. This is slightly lower than the P170 billion it programmed in August.

It is also no longer offering 35day T-bills this month to match investors’ appetite for longer tenors.

The government borrows to finance its spending requirements and to cover its budget deficit.

As tax collections are down amid the pandemic, the Development Budget Coordination Committee (DBCC) is projecting the budget deficit to more than double to 9.6 percent of GDP or P1.815 trillion from only 3.4 percent of GDP or P660.2 billion last year.

The DBCC also expects the country’s debt-to-GDP ratio this year to increase to 53.91 percent of GDP— level that it has not seen in over a decade—from a record-low of 39.6 percent of GDP last year.

Home quarantine still an option but with absolute terms–DOH

By Claudeth Mocon-Ciriaco

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Correspondent

HE Department of Health (DOH) maintained on Tuesday that home quarantine for Covid-19 patients is still being encouraged for as long as the requirements are met.

This was the reaction of the DOH when sought for comment after Interior Secretary Eduardo Año said that the goverment is considering to implement strictly a “no home quarantine” policy to prevent the spread of the virus to family members.

“HQ [home quarantine] is encouraged only when all of the following, not just some, requirements are strictly met: solo room, solo toilet, and no elderly,” the DOH said.

It is also expected that patients undergoing HQ are regularly monitored by their Barangay Health Emergency Response Team.

“Otherwise, the patient should be transferred to a quarantine/isolation facility,” the DOH said.

The DOH emphasized that they have always been consistent in saying facility-based quarantine/isolation is preferred.

“However, as we were ramping up establishments or conversion of more facilities to TTMFs, the option for HQ needed to be considered,” it said, adding that, “Let us not lose sight of the issue here—there’s no need to pit one government agency with another— we might just confuse the public.”

What is important, DOH added, “is we know, if in doubt [do I have

symptoms of Covid]? I may have been a contact of a Covid-positive patient etc., then isolate/quarantine,” it concluded.

Taguig’s vow

Despite garnering one of the lowest numbers for active Covid-19 cases in National Capital Region, the Taguig City government opened the site of the Lakeshore Hotel Mega-Quarantine Facility. At the event, the InterAgency Task Force for the Management of Emerging Infectious Diseases (IATF)-Coordinated Operations to Defeat Epidemic (Code) Team turned over face masks to the city under the “Mask para sa Masa” program.

“The Taguig leadership has ensured adherence to the test-tracetreat approach, beefing up our capabilities on all fronts. We have acted with urgency and innovated to cope with the challenges,” said Mayor Lino Cayetano.

Even as it already offers five ways to get tested under the Systematic Mass Approach to Responsible Testing (SMART) program (i.e., hospital testing, house-to-house testing, community-based testing through health centers, drive-thru testing and testing at national facilities), the city will launch the Taguig Mobile Testing Centers.

Another first following the drive-thru testing, it will be a roving state-of-the-art, medically equipped vehicle which City Epidemiology and Disease Surveillance Unit can use to conduct PCR tests in different sites all over Taguig.

“We also have quarantine facilities that take in suspect and probable cases, as well as confirmed cases who are asymptomatic or show mild symptoms. This system has helped us prevent household- and community-level infections, especially in areas where social distancing is just not possible,” Cayetano said.

The city currently has five quarantine facilities, including newly built structures and repurposed government buildings. The Lakeshore Hotel Mega-Quarantine Facility, where the “Mask para sa Masa” event transpired, has been much talked about.

It can host up to 500 patients when it fully operates in three months.

The structures ensure comfort for patients. They are complete with beds, partitions, air-conditioning, a bath, a toilet and a living room.

On September 1, the average number of active cases for the whole NCR was 898; Taguig’s average was 591. In active cases per 100,00 individuals, NCR was at 184 and Taguig at 60.

Taguig’s September 6 tally noted that, of 5,469 confirmed Covid-19 cases since January 27, only 463 were active cases, even lower than the 591 average. Some 4,962 patients have recovered and 44 died.

As of September 8, the city posted a case fatality rate of 0.83 percent.

The NCR has 1.44 percent. Case fatality rate is the incidence of deaths among Covid-19 cases. Meanwhile, the attack rate, which tracks the percentage of the population that gets infected, is 0.56 percent in Taguig.

In NCR, it is 0.95 percent.

Companies BusinessMirror

www.businessmirror.com.ph

Wednesday, September 9, 2020

B1

Vista Land focuses on provincial home buyers

P

By VG Cabuag

@villygc

roperty developer Vista Land and Lifescapes Inc. on Tuesday said it is capitalizing on the increasing preference of customers for house and lots, particularly those in provincial areas.

The company said home buyers and investors now put a premium on safety, as they look for homes with adequate space and within an integrated community amid this pandemic. It added that the buyers are more interested in properties in the provinces.

Vista Land has always focused on horizontal housing and has since scattered its developments across the country.

In the last five years the company generated half of its revenues from areas outside of Metro Manila.

“This pandemic has impacted our performance for the first half of 2020

and we still expect the rest of the year to be challenging. However, we are happy to see encouraging signs for both our residential and leasing businesses,” Manuel B. Villar Jr., the company’s chairman, said.

“For our residential business, we are glad to have always been able to cater to the changing needs and preferences of our homebuyers, and to stay true to our core goal of building homes for every Filipino, most especially during these trying times.”

Villar said the company has witnessed the shift of customer preference to house and lot products in the provincial areas as evidenced by the

Photo from www.camella.com.ph

increase in proportionate sales from housing products outside Metro Manila compared to the same period last year.

As to its leasing business, the com-

pany’s operational gross floor area has expanded to 79 percent, from 20 percent during the strict lockdown period that started in mid-March.

“The 21 percent that remain

SEC: Stop investing in Carefund

T

he Securities and Exchange Comm ission (SEC) ha s warned the public against betting on Cristiano Alberto Real Estate Fund (Carefund) as it is not authorized to offer its investing scheme to the public.

The SEC’s Enforcement and Investor Protection Department has advised the public to stop investing in the said entity and take the necessary precautions in dealing with it.

“Further, those who invite or recruit others to join or invest in such venture or offer securities to the public may incur criminal liability, or otherwise be sanctioned or penalized accordingly,” it said in a notice.

“Everyone is reminded that aside from the strict penalties imposed

by the Commission for violations of the Securities Regulation Code, the Revised Corporation Code, and such other rules and regulations it enforces, the Bayanihan to Heal as One Act [Republic Act 11469] also punishes those participating in cyber incidents that make use or take advantage of the current crisis situation to prey on the public through scams, phishing, fraudulent e-mails or other similar acts.”

According to its website carefund.net, the group is an international venture capital group under the leadership of Christian Albert Gaza, who is also a real estate financier in Southeast Asia and the chief executive officer and chief investment officer of Sindicato Cristiano Group of Companies.

Carefund, it claimed, is composed of a P100-million fund, divided into 5,000 shares. The minimum amount of investment is P20,000 equivalent to one share while the maximum amount of investment is P1 million for 50 shares. It claimed that such kind of scheme is similar to a time deposit or term deposit which has a lock-in period of two years.

There are two ways to earn from the said fund—via the common profit wherein there is no direct referral required; and the preferred profit, where there must be 2 direct referrals with at least one share each.

The said fund promises a return of as high as 45 percent after a 2-year period for the common profit and

75 percent for the preferred profit.

The SEC said that its records show that Carefund is not registered as a corporation, partnership or association. Carefund is not authorized to offer its investment scheme to the public, which constitutes securities, without a registration statement filed and approved by the agency, it said.

“The aforementioned scheme offered by Carefund involves the offer and sale of securities to the public, the SRC requires that these securities are duly registered with the Commission and that concerned entity or its agents have appropriate registration and/or license to sell such securities to the public pursuant to Section 8 of the SRC,” it said. VG Cabuag

EasyJet falls as UK Masinloc lockdown lifted as Covid-19 cases wane carrier cuts capacity

By Henry Empeño

E

asyJet Plc. fell as much as 8.2 pecent after the latest curbs of the United Kingdom on international travel forced the discount carrier to slow the build-up of its summer flight schedule.

Britain’s biggest discount airline, which had been been planning to fly at 40 percent of normal capacity in its current fourth quarter, now expects to operate at slightly less than that, it said in a statement on Tuesday. Coronavirus cases are on the rise in some European countries including important holiday destinations like Greece, France and Spain.

EasyJet also dropped a forecast for a smaller loss this period than in the third quarter through June, when it had a shortfall of 324 million pounds ($426 million). It will provide no financial guidance for the fiscal year starting next month.

“Demand is now likely to be further impacted and therefore lower than previously anticipated,” Chief Executive Officer Johan Lundgren said in the release. “It is difficult to overstate the impact that the pandemic and associated government policies has had on the whole industry.”

Greek islands

UK Transport Secretary Grant Shapps on Monday announced 14 days of self-isolation for travelers arriving from islands including Crete and Santorini.

While the introduction of a regional approach, which avoided limits on the Greek mainland, was welcomed as less severe than blanket quarantines, the move adds to confusion and complexity around where people can fly unhindered.

EasyJet shares traded 4.9 percent lower at 597.6 pence as of 8:31 a.m. in London, taking the decline this year to 58 percent and valuing the company at 2.73 billion pounds.

Lundgren repeated calls for sector-specific support for aviation, including the removal of the air passenger duty tax for 12 months, alleviation of air traffic control charges and the extension of a waiver of use-them-or-lose-them airport slot rules. Bloomberg News

Correspondent

M

ASINLOC, Zambales—Local authorities on Monday lifted the lockdown that has paralyzed Barangay Bani here in the last three weeks, finally easing travel in and out of the coal-plant community that became the epicenter of the biggest new coronavirus diseases (Covid-19) outbreak in Zambales.

Masinloc Mayor Arsenia Lim ordered the lifting of the Bani lockdown following the containment of the outbreak that affected residents and more than a hundred workers at the coal-fired thermal plant owned by San Miguel Corp. (SMC) in the barangay.

Lim noted in an executive order issue last Sunday that “the number of positive cases has prominently declined and the number of recoveries has increased desirably.”

“Considering the foregoing, the return to normal is called for in order to boost the economy of the barangay and to allow [residents] to recover from the setback brought about by the Covid-19 pandemic,” she added.

The mayor first ordered the lockdown of Bani and the neighboring Sitio Relocation in Barangay Taltal on August 20 after 20 coal plant workers tested positive for Covid-19 virus in just a matter of 5 days.

The outbreak, which was traced to a contractual worker brought into the plant from Muntinlupa City, spread like wildfire in the community because hundreds of laborers hired from Manila were bunked together in barracks outside the power plant, said

Residents of Barangay Bani take to the shore near the Masinloc coal-plant jetty to collect shellfish after the community lockdown was lifted on Monday. Henry Empeño Rolex Estella, head of the Provincial Disaster Risk-Reduction and Management Office.

Lim extended the lockdown and the attendant intensive contact-tracing in the community on August 28 after 99 new cases were confirmed on August 24, days after the start of mass testing in the community.

Eventually, the Bani outbreak recorded a total of 232 cases, almost 63 percent of the provincial total. Of these, 104 were workers from outside Masinloc, while 128 were residents, 98 of whom were from Bani.

Estella told the BusinessMirror that there were many cases when infected workers passed on the virus to family members. SMC agreed to include them in the mass testing ordered by the provincial government at the expense of the company, he added.

Of the 2,494 persons swabbed in the Bani community, he said 594 of them were family members of local coal-plant workers.

“They were also RT-PCR [reverse transcription polymerase chain reaction] tested, and were isolated while awaiting results,” Estella said. “Those

who tested negative were sent home; those positive were brought to the PRMMH [President Ramon Magsaysay Memorial Hospital], which is the dedicated Covid-19 facility in the province.”

He added that those who tested positive, except for the index case, were asymptomatic. “They were in good health while in isolation and nobody was ever in severe or critical condition.”

As of now, the worst appears to be over. Masinloc Municipal Secretary Glenn Elayda said that the last batch of swab tests made on 38 suspect cases on Wednesday last week all yielded negative results.

Meanwhile, among the 232 confirmed cases, those recovered are catching up fast, too. Records from the Masinloc Municipal Health Office showed that from the 49 recoveries announced on August 28, the number grew to 135 on September 2 and then to 153 on September 5, exactly a month after Patient Zero tested positive and Bani’s Covid-19 nightmare began.

This left just a total of 79 active cases—52 among the 128 locals who tested positive, and 27 among the 104 workers from outside Zambales.

closed are those tenants that are still not allowed to operate as per government mandated restrictions,” he said.

Vista Land has launched only two residential projects valued at P2 bil-

lion in the first half, but the company said it is looking at launching more by the second half especially if the upward trend in sales will continue.

“Our June sales are already at 70 percent of pre-Covid level with July and August sales tracking better than June. Thus, if this sales trajectory continues, we might decide to launch more projects in the fourth quarter.

We do not need to acquire new land anyway as we have an existing land bank of about 3,000 hectares,” Villar said.

Manuel Paolo A. Villar, the company’s president and CEO, said the synergy between its residential and leasing businesses, the company’s malls are still enjoying a decent foot traffic since most of Vista Land’s commercial properties are within its existing residential community.

“This pandemic may have upended the real estate industry and the economy in general yet a lot of opportunities are still there especially in our sector. Right now, we are making the necessary adjustments to our business operations in order to better position the company once the economy fully recovers,” he said.

Gaisano kin seeks NBI help in locating prime suspect in stock scam

By Joel R. San Juan @jrsanjuan1573

A

MEMBER of the affluent Gaisano family has sought the assistance of the National Bureau of Investigation (NBI) in determining the whereabouts of one of the primary suspects in the P3.2-billion syndicated estafa case filed before the Regional Trial Court of Cebu City.

In a letter sent Tuesday, Valerie Gaisano-Sebastian asked NBI Director Eric B. Castor to follow through on said leads, as their family continues to receive information that suspect Wong Chung Yin, alias David Wong, is hiding in Taiwan.

“Recently, we received information that the subject Wong... is in hiding in Taiwan. Even if INTERPOL did issue a Red Notice against said Wong Chun Yin, we find it appropriate to actively involve your office so that this 'fugitive from justice’ may finally be arrested to face trial,” Gaisano-Sebastian's legal counsel, Atty.

Jose Mariano Tan, said in his letter to the NBI. Tan said his client is willing to give a P2-million reward to anyone who can provide information that will lead to the arrest of Wong.

Wong is one of the 10 officers of stock brokerage company DW Capital Inc. who were charged by Gaisano-

Sebastian with syndicated estafa, a non-bailable offense.

In her complaint filed in 2018, Gaisano-Sebastian accused DW Capital Inc. (DWCI) of selling her P3.2billion aggregate investments without informing her of the transaction.

The missing shares were discovered in July 2017.

The proceeds of the unauthorized sale of shares were allegedly diverted to Wong and most of his family, who are his co-accused and executives of DWCI. She also filed a complaint with the Securities and Exchange Commission detailing the unauthorized transactions.

Following the raffle of the case to Branch 7, Judge Stewart Himalaloan in March 2019 issued a warrant of arrest against the accused officers and personnel.

Aside from Wong, others who were named suspects are Derwin Wong, Derick Wong, Diane Wong, Davidson Wong, Lucy Chua, Juvy Ting, Susan Lu, Beverly Ansay and Leonardo Marsan.

Derwin was arrested in April last year, while Davidson was apprehended last January in Madrid, Spain.

Prior to their arrest, the NBI informed the Gaisano camp that Wong, along with Diane, Davidson, and Derick Wong were already included in red notices issued by the Interpol.

NGCP upgrades facilities

T

he National Grid Corp. of the Philippines (NGCP) has moved to modernize its facilities to make inspection activities, particularly during emergency restoration activities, faster.

The grid operator said Tuesday that 3 of its helicopters are now equipped with high definition photo and video cameras with gimbal stabilizers, infrared scanning, and UV detection equipment to monitor, inspect, and evaluate the condition of transmission lines and equipment, particularly those inaccessible due to terrain and environmental restrictions.

With these helicopters, NGCP can assess, immediately identify, and deploy personnel and equipment.

NGCP said this is crucial after typhoons, earthquakes, volcanic eruptions and other natural or man-made calamities. NGCP began using Unmanned Aerial Vehicle (UAV) and Remotely Piloted Aircraft (RPA) or drone technology in 2019. With its high definition photo and video capabilities, transmission line inspections are efficiently completed within a shorter amount of time, in contrast to the previous practice of climbing transmission towers.

The company said it has 3 currently in use and will continue to rollout the use of drones around the country in the coming years. It said that 45 of these are scheduled for procurement. The grid operator said it is also preparing to introduce a Central Control and Monitoring System (CCMS) to remotely operate its substations. The system will comprise of real-time monitoring software and hardware, which will be used for the acquisition, collection, monitoring, and analysis of power data and equipment condition.

By operating the CCMS, NGCP said it will be able to pilot unmanned substations, effectively improving the operational performance of its facilities and provide greater flexibility for expansion.

NGCP said its substations are also equipped with anti-flooding and fire blocking systems. Critical facilities such as the High Voltage Direct Current (HVDC) buildings in Ormoc and Naga, which connect the Luzon and Visayas Grids, were also refurbished to make them more resilient and to protect them against possible damage brought about by typhoons and other natural and man-made calamities. Lenie Lectura

B2

Companies BusinessMirror

Wednesday, September 9, 2020

PSE STOCK QUOTATIONS

September 8, 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 PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

45.9 93 66.3 21 8.35 35.45 19.98 49 16.02 95.55 54 0.76 21.5 2.64 0.95 0.285 735 0.58 153.1 1950 1.03

46.25 93.5 66.4 21.15 8.36 35.5 20.05 49.85 16.3 95.6 54.2 0.81 22.35 2.65 0.99 0.295 755 0.61 158 1980 1.1

46 90.9 65.8 21 8.35 35 19.98 49.85 15.8 94.15 54 0.81 21.1 2.65 0.95 0.285 730 0.61 158 1960 1.03

46.25 93.5 66.55 21.15 8.4 35.6 19.98 49.85 16.3 96 54.2 0.81 22.5 2.65 0.95 0.285 730 0.61 158 1980 1.03

46 90.2 65.55 20.85 8.32 34.75 19.76 49.5 15.8 94 53.95 0.81 21.1 2.65 0.95 0.285 730 0.59 158 1960 1.03

46.25 93.5 66.4 21.15 8.35 35.5 19.98 49.5 16.2 95.6 54.2 0.81 22.5 2.65 0.95 0.285 730 0.61 158 1980 1.03

2600 2119570 1036950 116800 315700 2913000 174700 300 2400 607720 11520 1000 8100 1000 3000 20000 10 91000 100 10 1000

120225 111000 194832480.5 23581179.5 68804654 -42714816 2452840 -779100 2635083 -504285 102,697,080( 21,505,435.0004) 3481904 139079.9999 14920 38720 58004159.5 -14401321 622239 24325 810 176430 -9000 2650 2850 5700 7300 -7300 54650 -30290 15800 19700 1030 -

INDUSTRIAL AC ENERGY 2.93 2.94 2.89 2.95 2.89 2.93 20900000 61116930 1.24 1.26 1.24 1.26 1.24 1.25 459000 574110 ALSONS CONS ABOITIZ POWER 27.5 27.6 26.65 27.5 26.5 27.5 1929300 52416990 0.178 0.181 0.182 0.182 0.178 0.182 2590000 464400 BASIC ENERGY FIRST GEN 25.15 25.65 24.7 25.65 24.05 25.65 717800 18000090 FIRST PHIL HLDG 60.1 61.5 61.45 61.5 60 61.5 34820 2135770.5 265 272.4 262.2 272.4 260.6 272.4 230540 61242308 MERALCO MANILA WATER 14.04 14.1 14.08 14.2 13.94 14.04 988100 13886270 3.06 3.08 3.07 3.1 3.06 3.06 1078000 3320000 PETRON 3.1 3.3 3.26 3.32 3.26 3.31 6000 19850 PETROENERGY PHX PETROLEUM 10.76 11 10.72 11 10.72 11 143400 1568858 17.72 17.8 17.74 17.9 17.72 17.72 475800 8,452,122( PILIPINAS SHELL SPC POWER 9.17 9.18 9.18 9.18 9.1 9.18 158800 1453243 AGRINURTURE 7.81 8.04 8.05 8.05 7.8 8.04 93300 740272 2.37 2.38 2.45 2.45 2.36 2.38 19905000 47553430 AXELUM BOGO MEDELLIN 76.8 93 76.85 76.85 76.85 76.85 310 23823.5 17.68 17.7 17.4 17.7 17.32 17.7 3890600 68018648 CENTURY FOOD 4.7 4.78 4.68 4.75 4.68 4.7 87000 409080 DEL MONTE DNL INDUS 5.5 5.51 5.05 5.5 5.05 5.5 8914800 48011475 9.94 9.97 9.94 9.97 9.9 9.97 491400 4883423 EMPERADOR SMC FOODANDBEV 64.8 64.95 66 66 64.55 64.95 63970 4155362 ALLIANCE SELECT 0.65 0.66 0.65 0.66 0.65 0.66 488000 317540 1.16 1.17 1.17 1.17 1.15 1.17 2695000 3130440 FRUITAS HLDG GINEBRA 45.8 46 44.9 46.4 44.9 46 11000 505410 138 138.1 138.1 138.2 136.1 138.1 839820 115224916 JOLLIBEE 7.74 7.95 7.9 7.96 7.9 7.95 4100 32552 MACAY HLDG MAXS GROUP 5 5.05 4.8 5 4.8 5 1220000 6027480 0.125 0.132 0.125 0.134 0.124 0.134 1090000 135640 MG HLDG SHAKEYS PIZZA 5.8 5.83 5.8 5.86 5.68 5.84 419700 2426642 ROXAS AND CO 1.14 1.15 1.17 1.18 1.13 1.14 6570000 7597520 4.51 4.72 4.47 4.47 4.47 4.47 13000 58110 RFM CORP ROXAS HLDG 1.91 1.99 2.09 2.36 1.94 1.99 1888000 4085440 0.104 0.11 0.104 0.104 0.104 0.104 10000 1040 SWIFT FOODS 141 143.5 140.9 143.5 138.7 143.5 759420 107608752 UNIV ROBINA VITARICH 0.8 0.81 0.77 0.81 0.77 0.8 8442000 6722970 52 55 52 55 52 55 410 21350 CONCRETE B CEMEX HLDG 1.59 1.6 1.52 1.62 1.52 1.59 35369000 56145640 EAGLE CEMENT 14.4 14.6 13.84 14.8 13.84 14.6 2872200 41568246 6.75 6.76 6.72 6.94 6.71 6.75 2338500 15850883 EEI CORP HOLCIM 6.35 6.36 6 6.39 6 6.36 8555900 53575427 7.26 7.29 7.36 7.36 7.01 7.29 2316000 16729704 MEGAWIDE 8.48 8.9 8.9 8.9 8.9 8.9 800 7120 PHINMA TKC METALS 0.66 0.67 0.66 0.67 0.66 0.66 114000 75540 0.73 0.76 0.77 0.77 0.73 0.73 1113000 846050 VULCAN INDL CHEMPHIL 110.9 137.7 110.9 110.9 110.9 110.9 10 1109 1.89 1.92 1.93 1.93 1.9 1.9 25000 48000 CROWN ASIA 1.83 1.84 1.86 1.9 1.82 1.83 148000 272960 EUROMED LMG CORP 4.4 4.5 4.45 4.5 4.4 4.45 8000 35740 4.2 4.66 4.49 4.65 4.2 4.2 38000 168830 MABUHAY VINYL PRYCE CORP 4.15 4.18 4.15 4.18 4.15 4.15 722000 2997380 CONCEPCION 19.92 19.98 20 20 19.1 19.9 8400 165818 2.14 2.15 2.13 2.17 2.12 2.15 8400000 18038040 GREENERGY INTEGRATED MICR 6.43 6.45 6 7.1 6 6.43 4528500 30049768 0.96 0.97 0.95 0.98 0.95 0.97 265000 254730 IONICS 4.62 4.89 4.62 5 4.62 4.96 50000 235590 PANASONIC SFA SEMICON 1.45 1.46 1.43 1.48 1.4 1.46 2027000 2935000 5.75 5.78 5.74 5.89 5.74 5.75 2607600 15114490 CIRTEK HLDG

-820530 22006375 6996800 -1306275.5 9544552 407454 -9210 -746528 1,666,222.0003) 218230 28900 -43630620 12155320 -65810 9470275 -1398456 -3209876 -231999.9999 -41355 -69068724 790910 12500 170930 9120 58110 -1890 -11925342 -19130 -675260 -9970992 6803690 2569254 -5413435 18500 215800 -88000 -328640 -3364710 580 -143248

HOLDING & FRIMS ABACORE CAPITAL 0.49 0.495 0.5 0.52 0.49 0.49 24977000 12520530 7.25 7.49 7.64 7.64 7.49 7.49 13200 99311 ASIABEST GROUP AYALA CORP 718 719 702.5 720 702.5 718 362230 258751795 48.95 49.2 49.4 49.4 48.8 48.95 489900 23997370 ABOITIZ EQUITY ALLIANCE GLOBAL 6.42 6.46 6.23 6.48 6.23 6.42 15748500 100823109 AYALA LAND LOG 1.84 1.85 1.77 1.85 1.77 1.85 2731000 4982790 6.16 6.47 6.47 6.47 6.47 6.47 800 5176 ANSCOR ATN HLDG A 0.54 0.55 0.55 0.56 0.54 0.55 924000 508220 0.55 0.56 0.56 0.56 0.56 0.56 112000 62720 ATN HLDG B 5.12 5.15 5.01 5.2 5.01 5.12 3061100 15675133 COSCO CAPITAL DMCI HLDG 4.04 4.05 3.98 4.05 3.97 4.04 11142000 44688550 8.5 8.52 8.49 8.55 8.49 8.52 18000 152969 FILINVEST DEV FORUM PACIFIC 0.178 0.189 0.186 0.186 0.186 0.186 50000 9300 400 401 387 406.6 385 400 268440 107242334 GT CAPITAL 62.1 62.15 61.45 62.7 61.35 62.15 1282390 79703270 JG SUMMIT LODESTAR 0.6 0.62 0.6 0.63 0.6 0.62 209000 125610 2.46 2.49 2.46 2.5 2.42 2.46 100000 247080 LOPEZ HLDG 8.64 8.65 8.68 8.69 8.55 8.65 1066800 9204582 LT GROUP METRO PAC INV 3.52 3.54 3.37 3.57 3.36 3.54 34339000 119728910 2.91 3.05 3 3.04 3 3.04 17000 51040 PACIFICA HLDG PRIME MEDIA 0.77 0.79 0.78 0.8 0.78 0.8 211000 167300 REPUBLIC GLASS 2.5 2.6 2.6 2.6 2.6 2.6 20000 52000 0.98 1 1 1 1 1 5000 5000 SOLID GROUP SYNERGY GRID 154 166 158 158 158 158 20 3160 900 908 871 908 871 908 271890 244648605 SM INVESTMENTS 99.95 100 101 101 99.95 100 476980 47790848 SAN MIGUEL CORP SOC RESOURCES 0.63 0.64 0.64 0.64 0.64 0.64 108000 69120 129 131 131 131 131 131 110 14410 TOP FRONTIER WELLEX INDUS 0.186 0.196 0.186 0.186 0.186 0.186 50000 9300 0.149 0.152 0.146 0.152 0.146 0.15 500000 74580 ZEUS HLDG

-1757035 -125278650 -12387555 40026254 -559750 -143172.9996 -26335940 -44905580 -45548622 -7340 1256165 25642710 45000 780 23362025 -5569890.5 9170 -

PROPERTY ARTHALAND CORP 0.51 0.52 0.52 0.52 0.51 0.52 368000 191350 7.03 8.39 8.39 8.39 8.39 8.39 600 5034 ANCHOR LAND AYALA LAND 30.8 30.9 29.9 30.9 29.2 30.9 13582100 410482575 0.97 1.02 1 1.02 1 1.02 327000 331140 ARANETA PROP AREIT RT 25.8 25.85 25.55 25.85 25.5 25.8 1355600 34902725 BELLE CORP 1.35 1.37 1.36 1.36 1.35 1.36 839000 1134340 0.75 0.76 0.75 0.76 0.73 0.76 2324000 1733530 A BROWN CITYLAND DEVT 0.83 0.88 0.84 0.88 0.84 0.88 118000 103400 0.123 0.129 0.125 0.129 0.123 0.129 490000 61310 CROWN EQUITIES 5.68 5.9 5.65 5.94 5.65 5.68 44300 250778 CEBU HLDG CEB LANDMASTERS 5.11 5.14 5.17 5.17 5.09 5.14 472700 2425207 0.365 0.37 0.365 0.37 0.365 0.37 660000 242200 CENTURY PROP DOUBLEDRAGON 14.76 14.78 14.8 14.96 14.76 14.78 202900 3005554 DM WENCESLAO 5.95 5.99 5.97 5.99 5.95 5.95 621100 3696405 0.255 0.26 0.265 0.265 0.255 0.26 120000 30750 EMPIRE EAST EVER GOTESCO 0.087 0.091 0.088 0.088 0.087 0.087 1370000 119970 0.91 0.92 0.94 0.94 0.91 0.92 36722000 33817430 FILINVEST LAND 0.79 0.8 0.79 0.79 0.79 0.79 100000 79000 GLOBAL ESTATE 8990 HLDG 7.4 7.59 7.88 7.88 7.3 7.3 6500 49427 1.16 1.17 1.17 1.17 1.12 1.16 2077000 2379310 PHIL INFRADEV CITY AND LAND 0.71 0.73 0.7 0.71 0.7 0.71 6000 4230 3.09 3.1 2.96 3.11 2.96 3.1 24300000 74666830 MEGAWORLD 0.239 0.24 0.232 0.242 0.231 0.24 19430000 4606830 MRC ALLIED PHIL ESTATES 0.285 0.295 0.285 0.285 0.285 0.285 20000 5700 1.14 1.15 1.17 1.17 1.14 1.15 91000 105340 PRIMEX CORP 14.88 14.96 15.14 15.14 14.7 14.88 3293200 49096762 ROBINSONS LAND PHIL REALTY 0.222 0.232 0.222 0.222 0.221 0.221 200000 44240 1.52 1.57 1.52 1.52 1.52 1.52 3000 4560 ROCKWELL SHANG PROP 2.67 2.68 2.72 2.72 2.68 2.68 8000 21600 STA LUCIA LAND 1.92 1.98 1.99 2 1.95 1.98 171000 337570 29.15 29.35 29 29.45 28.95 29.15 7838100 229034730 SM PRIME HLDG VISTAMALLS 3.76 3.85 3.76 3.85 3.75 3.85 20000 75270 1.2 1.21 1.19 1.21 1.18 1.2 827000 991760 SUNTRUST HOME 3.24 3.26 3.17 3.29 3.12 3.26 2075000 6696530 VISTA LAND

3683670 -15852010 -716070 -311330 11100 -1740540 -68885 -28546020 -3916 -4660170 74680 -25070602 -16160 -92599565 -987070

SERVICES ABS CBN 7.1 7.2 7.15 7.26 7.1 7.1 474400 3415826 5.14 5.15 5.09 5.15 5.06 5.14 536800 2736990 GMA NETWORK MANILA BULLETIN 0.395 0.405 0.395 0.405 0.395 0.405 80000 32100 11.4 11.78 11.14 11.8 11.14 11.8 1200 13500 MLA BRDCASTING GLOBE TELECOM 2116 2120 2106 2130 2090 2120 31635 66979380 PLDT 1449 1450 1441 1464 1426 1450 101470 147000190 0.056 0.058 0.058 0.06 0.056 0.056 254650000 14703690 APOLLO GLOBAL DFNN INC 2.9 3.01 2.9 3 2.89 3 35000 103480 3.27 3.28 3.26 3.3 3.26 3.28 6772000 22190690 DITO CME HLDG 1.37 1.43 1.36 1.52 1.35 1.43 34000 46970 IMPERIAL ISLAND INFO 0.067 0.073 0.067 0.073 0.067 0.073 140000 9980 1.57 1.61 1.62 1.63 1.53 1.55 50000 78220 JACKSTONES NOW CORP 2.34 2.35 2.4 2.42 2.3 2.34 6062000 14228510 TRANSPACIFIC BR 0.175 0.176 0.177 0.177 0.174 0.176 2570000 449310 2.3 2.31 2.16 2.31 2.15 2.31 1150000 2606720 PHILWEB 2GO GROUP 8.4 8.44 8.45 8.45 8.4 8.4 18400 154941 3.31 3.32 3.31 3.33 3.3 3.31 396000 1311980 CHELSEA 38.5 38.55 37 38.6 36.55 38.55 1008700 38484855 CEBU AIR INTL CONTAINER 107.4 107.5 106.7 108 105.3 107.5 1395510 149009131 14.62 15.58 15 15.1 14.62 14.62 1900 28130 LBC EXPRESS MACROASIA 4.86 4.88 4.72 4.89 4.71 4.86 1653000 7976860 METROALLIANCE A 1.58 1.59 1.59 1.59 1.55 1.59 152000 238000 5.72 5.75 5.95 5.95 5.7 5.72 44300 253857 PAL HLDG HARBOR STAR 1.06 1.07 1.1 1.1 1.06 1.06 3283000 3516110 1.09 1.23 1.08 1.08 1.08 1.08 2000 2160 ACESITE HOTEL 0.028 0.029 0.028 0.029 0.028 0.029 15500000 439300 BOULEVARD HLDG WATERFRONT 0.38 0.395 0.38 0.38 0.38 0.38 620000 235600 7.29 7.99 7.99 7.99 7.99 7.99 200 1598 IPEOPLE STI HLDG 0.315 0.32 0.33 0.33 0.315 0.32 6820000 2199650 BERJAYA 2.57 2.6 2.6 2.62 2.52 2.6 512000 1324150 7.16 7.17 6.88 7.18 6.8 7.16 11448900 80590917 BLOOMBERRY PACIFIC ONLINE 1.92 2 2 2 2 2 25000 50000 1.32 1.33 1.36 1.37 1.31 1.32 242000 323450 LEISURE AND RES 2.19 2.3 2.3 2.3 2.2 2.3 24000 54900 PH RESORTS GRP PREMIUM LEISURE 0.33 0.335 0.33 0.335 0.325 0.33 24800000 8147250 5.92 5.93 5.95 6 5.87 5.93 16757900 99738923 ALLHOME METRO RETAIL 1.4 1.41 1.45 1.46 1.36 1.41 4698000 6590650 PUREGOLD 51.45 51.5 51.5 51.7 51.2 51.5 1246750 64261307.5 68.1 68.4 68.2 68.2 67.85 68.1 1214310 82688461.5 ROBINSONS RTL PHIL SEVEN CORP 121 121.1 121.1 121.1 121.1 121.1 300 36330 1.13 1.14 1.13 1.16 1.12 1.13 4810000 5463650 SSI GROUP 16 16.02 16 16.04 15.8 16 1807200 28904104 WILCON DEPOT APC GROUP 0.29 0.295 0.295 0.295 0.295 0.295 3900000 1150500 6.15 6.2 6.15 6.2 6.1 6.2 24800 151816 EASYCALL IPM HLDG 4.01 4.38 4.01 4.01 4.01 4.01 1000 4010 0.223 0.226 0.222 0.226 0.221 0.223 2790000 621450 PRMIERE HORIZON 4.33 4.5 4.34 4.34 4.34 4.34 10000 43400 SBS PHIL CORP

24476880 -18840195 1245200.0001 486820 79820 99300 -24855165 -94508016 36330 1160 31030 -12100 -5712801 5300 -330000 -7059208 -170160 -4143556 -59523205 1211 -41670.0002 16969812 147500 -

MINING & OIL

ATOK 7.5 7.98 7.88 8.03 7.88 8 8000 63474 APEX MINING 1.58 1.59 1.59 1.6 1.57 1.58 6075000 9593450 26630 0.0008 0.0009 0.0009 0.0009 0.0008 0.0009 256000000 212000 ABRA MINING ATLAS MINING 3.81 3.9 3.8 3.94 3.78 3.81 559000 2144560 3.09 3.1 3.06 3.1 3 3.1 380000 1166670 BENGUET A 2.97 3.02 2.94 3.02 2.94 3.02 227000 679050 BENGUET B CENTURY PEAK 2.43 2.59 2.44 2.59 2.44 2.59 55000 141710 129110 7.63 7.78 7.68 7.79 7.63 7.63 7300 55908 DIZON MINES 1.28 1.3 1.31 1.31 1.28 1.28 8746000 11312450 97260 FERRONICKEL GEOGRACE 0.233 0.234 0.232 0.233 0.23 0.233 70000 16220 0.148 0.149 0.15 0.151 0.148 0.148 9970000 1491390 LEPANTO A LEPANTO B 0.151 0.155 0.156 0.156 0.152 0.152 400000 61900 31200 MANILA MINING A 0.0095 0.0097 0.0098 0.0098 0.0097 0.0097 21000000 204900 0.01 0.011 0.01 0.011 0.01 0.011 6000000 63000 MANILA MINING B MARCVENTURES 0.95 0.97 1 1 0.95 0.95 7278000 7022670 433180 2.08 2.1 2.05 2.1 2.05 2.08 888000 1840680 32760 NIHAO 3.14 3.15 3.2 3.2 3.11 3.14 9019000 28292790 648650 NICKEL ASIA OMICO CORP 0.375 0.405 0.38 0.385 0.38 0.385 40000 15250 0.57 0.58 0.58 0.58 0.56 0.58 809000 461660 ORNTL PENINSULA PX MINING 4.13 4.14 4.17 4.19 4.02 4.13 2128000 8774100 3846740 SEMIRARA MINING 9.79 9.8 9.65 9.82 9.65 9.79 1752800 17120426 1221235 0.0049 0.0052 0.0049 0.0049 0.0049 0.0049 6000000 29400 29400 UNITED PARAGON ACE ENEXOR 5.8 5.87 5.7 5.99 5.7 5.87 176800 1039031 0.0084 0.0087 0.0086 0.0086 0.0084 0.0084 11000000 93000 ORNTL PETROL A 0.0087 0.0089 0.0092 0.0092 0.0086 0.0088 36000000 316500 PHILODRILL PXP ENERGY 5.31 5.32 5.25 5.35 5.23 5.31 665100 3525689 112212

PREFFERED HOUSE PREF A 100.2 101 101 101 101 101 30 3030 100.2 103.4 100 100 100 100 750 75000 ALCO PREF B AC PREF B2R 506 514 506 506 506 506 100 50600 100.8 102 100.6 102 100.6 102 110 11141 DD PREF FGEN PREF G 106.5 108 106.5 106.5 106.5 106.5 90 9585 502.5 515 517 517 517 517 40 20680 GLO PREF P 100.1 101.4 100.2 100.2 100.1 100.1 1040 104204 MWIDE PREF PNX PREF 3A 96.55 96.9 96.75 96.75 96.45 96.45 21660 2090472 440212.5 100 102.8 99.8 100 99.7 100 5130 512968 1000 PNX PREF 3B 942 948 942 949 940 948 7940 7464585 PNX PREF 4 PCOR PREF 3A 1042 1060 1041 1060 1041 1060 55 57350 1.35 1.98 1.46 1.46 1.35 1.35 60000 82220 SFI PREF SMC PREF 2C 78.2 78.5 78.45 78.5 78.4 78.5 28490 2236440 75.3 80 75.6 75.6 75.3 75.3 15610 1177483 SMC PREF 2D 76 76.5 76.5 76.5 76 76 4110 312415 SMC PREF 2E SMC PREF 2G 76 76.85 76.85 76.85 76.85 76.85 7400 568690 76.5 76.6 76.5 76.5 76.5 76.5 5000 382500 SMC PREF 2H 78.5 79 78.5 78.5 78.5 78.5 9900 777150 SMC PREF 2I

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 6.64 6.8 7.15 7.15 6.62 6.8 83600 568717 -504000 4.98 5 4.99 5 4.99 5 437000 2184300 -1249500 GMA HLDG PDR

WARRANTS LR WARRANT 0.65 0.66 0.64 0.67 0.64 0.66 393000 256790 64000

SMALL & MEDIUM ENTERPRISES ALTUS PROP 11 11.04 10.5 11.3 10.26 11.04 1319700 14361794 -5004538 1.79 1.8 1.8 1.82 1.78 1.79 1103000 1974740 ITALPINAS KEPWEALTH 5.15 5.18 5.12 5.15 5.12 5.15 9000 46200 2.93 2.94 3.01 3.01 2.92 2.93 25778000 75966650 1606470 MERRYMART XURPAS 0.51 0.52 0.5 0.52 0.5 0.52 1714000 884610

EXHANGE TRADE FUNDS

FIRST METRO ETF 90.95 91.25 89.95 91.25 89.5 91.25 12950 1173035.5 40685.5

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ACI to hire skilled workers for construction projects

A

By Lorenz S. Marasigan

@lorenzmarasigan

boitiz Construction Inc. (ACI) said it is planning to hire 1,200 skilled workers, as it resumes construction projects in Surigao, Cebu, Iligan, Davao, Sarangani and Subic.

Nina Ylagan-Pedro, a vice president at the company, listed the job openings as: project managers, engineers, safety and quality inspectors, pipefitters, welders, fitters, scaffolders, crane operators, and TIG (tungsten inert gas) welders for ongoing works, shutdowns, and

acceleration projects.

She added that healthcare workers are also needed, as part of the group’s health and safety protocols for Covid-19.

“Amidst the massive disruption in the labor market caused by the global pandemic, we are still for-

tunate to be able to offer jobs to a sector of Filipino workers who need livelihood the most,” she said.

Pedro noted that ACI “prioritizes the hiring of local residents from nearby communities,” noting that her group might need more workers towards the end of the year.

She explained that to ensure the hiring of appropriate skilled workers, all shortlisted candidates will go through standard trade proficiency exams and health and safety protocols aligned with the Aboitiz Group’s safety guidelines and policies, as well as those imposed by the national and local government units.

New hires will also be subject to a mandatory 14-day quarantine.

Aboitiz Construction project sites strictly observe physical distancing in the work areas (service vehicles, offices, canteens, barracks, and staging areas) and are equipped with preventive and control measures such as disinfection and wash bays, proper personal protective equipment, and constant health and temperature checks. In addition, project sites have also set up isolation areas for use if needed.

A construction employment contract starts upon project mobilization and ends with project turnover. With this, ACI provides project-based team members with valuable experience and training for jumpstarting future employment.

Pandemic boosts demand for Amway products

By Elijah Felice E. Rosales @alyasjah

T

he Covid-19 pandemic may be a bane to most of retail firms, but not to multilevel marketing company Amway Philippines.

The distributor of health, beauty, home care and agricultural products on Monday announced it is taking its business operations here to the next step. Amway Philippines Country Manager Leni P. Olmedo said the firm has seen a demand surge for nutrition items during the pandemic, and it intends to supply buyers with these products to help them cope with the crisis.

“Health and wellness products are now on demand; some even go through mental awareness activities to make it through the pandemic,” Olmedo said in a news briefing.

“We are seeing that nutrition is becoming a factor even in across a lot of households,” she said. “What they are trying to do is take in vitamins to ward off the virus.”

As such, Amway Philippines is looking to grow its business by 10 percent this year in the face of the pandemic, which has forced numerous industries to cut their growth targets.

Last year the firm manages about 80,000 Amway business owners

(ABO), or direct sellers that offer health products to customers. From April to June this year, Amway has seen a 130-percent increase in new signups to become ABOs. “Direct selling provides newly unemployed Filipinos a new chance at building a career at a difficult time,” Olmedo said.

“People would try to find a way to replace the income that was lost.

This showed in our numbers, which has kept on growing because [those] unemployed [by the pandemic] are trying to find means to earn."

In terms of avenue, the firm has seen its physical stores transfer to digital platforms, pushing its number of online sellers to 70 percent, from 8 percent before the pandemic, as the health crisis left people with no other option but to expand their purchasing options.

In support of these online sellers, Olmedo reported that Amway has distributed over 90 digital courses that educate on how to manage businesses from home. Likewise, live video trainings were conducted during the pandemic.

“We are upgrading our e-commerce facilities, and we conduct nearly daily trainings to help those sellers who are shifting to online from offline,” the country manager said.

Malaysian food tech firm expands to PHL

K

UALA LUMPUR-BASED SmartBite has entered the Philippine market in line with its goal of becoming the go-to corporate catering company in the region.

“We intend to be the largest food catering marketplace in Southeast Asia and to do so, we are dedicated to continuously provide professional caterers with the best easy to use tech tools for them to satisfy the catering needs, which are massively moving online around the world,” said SmartBite Chief Executive Officer and Cofounder Alessandro Voltolini.

With their latest venture, he said the company wants to tap into the catering industry for the country’s information technology-business process management (IT-BPM) sector.

“Currently, there are more than 1.35 million employees working under the IT-BPM industry. By 2022, this number is expected to reach 1.85 million,” he said.

Since its soft launch here, SmartBite has already managed to onboard a few regional corporate clients, including Zalora and other outsourcing companies.

The company seeks to replicate its principal’s success by helping employers develop employee meal plan solutions that are flexible, affordable and easy to implement.

This is timely to the ensuing Covid-19 pandemic, its executives said, since most companies adopt the “work from home” setup in compliance to the social distancing

protocols to help curb the spread of the virus.

“SmartBite helped us facilitate affordable and hygienic meal solutions for our frontliners during this challenging time which allowed our team members to focus on their jobs without having to worry about lunch every day,” said Glenda Hernandez, head of human resources for Zalora Philippines.

“In addition, SmartBite arranged for packed food basket solutions that they arranged to be delivered to each of our employees’ homes, which our employees appreciated very much as they continue to work from home during the pandemic,” she added.

Powered by artificial intelligence, this corporate catering startup was launched in Malaysia 3 years ago, and since then has expanded with over 200 restaurants and caterers listed on its platform and a five-fold annual revenue growth. Its clients include Zalora, Lazada and General Electric, among others.

In June, SmartBite said it recorded a six-fold revenue increase as compared last year's record.

In the same month, it successfully delivered around 3,000 individual meals to employees of the Malaysian insurance company AIA Bhd and various residential addresses.

The food-tech startup is also in the midst of a pre-Series A funding round and is hoping to raise a capital of $2 million to boost scalability across the region. To date, the firm has already raised $900,000 from previous seed rounds. Roderick L. Abad

mutual funds

September 8, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 195.49 -24.1% -10.99% -4.72% -22.38% ATRAM Alpha Opportunity Fund, Inc. -a 1.078 -30.78% -13.19% -2.84% -22% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.6205 -34.77% -15.66% -6.8% -28.76% Climbs Share Capital Equity Investment Fund Corp. -a 0.6697 -30.12% -12.7% n.a. -25.42% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6908 -19.43% n.a. n.a. -18.66% First Metro Save and Learn Equity Fund,Inc. -a 4.2092 -22.35% -9.23% -4.18% -21% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6567 -24.6% -12.01% n.a.

-23.07% MBG Equity Investment Fund, Inc. -a 82.26 -29.8% n.a. n.a. -20.31% PAMI Equity Index Fund, Inc. -a 39.161 -24.73% -9.68% -3.55% -23.64% Philam Strategic Growth Fund, Inc. - a 421.26 -22.25% -8.95% -3.71% -20.93% Philequity Alpha One Fund, Inc. -a,d,5 0.8783 n.a. n.a. n.a. -14.74% Philequity Dividend Yield Fund, Inc. -a 1.0005 -23.74% -9.09% -3.24% -22.26% Philequity Fund, Inc. -a 29.3144 -23.99% -8.71% -2.9% -22.65% Philequity MSCI Philippine Index Fund, Inc. -a 0.7716 -24.91% n.a. n.a. -24.21% Philequity PSE Index Fund Inc. -a 3.9977 -24.36% -9.13% -2.83% -23.47% Philippine Stock Index Fund Corp. -a 668.39 -24.24% -9.12% -2.94% -23.35% Soldivo Strategic Growth Fund, Inc. -a 0.6037 -34.24% -13.07% -6.97% -29.09% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.0947 -28.02% -10.56% -4.22% -26.48% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7659 -24.46% -9.32% -3.03% -23.47% United Fund, Inc. -a 2.7837 -24.84% -8.37% -2.5% -23.8% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 89.7471 -24.11% -8.7% -2.14% -23.26% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.0567 12.13% 0.4% 4.52% 2.75% Sun Life Prosperity World Voyager Fund, Inc. -a $1.516 17.89% 8.61% n.a.

9.96% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5623 -7.13% -4.58% -2.72% -0.03% ATRAM Philippine Balanced Fund, Inc. -a 2.0481 -11.41% -4.97% -1.17% -6.1% First Metro Save and Learn Balanced Fund Inc. -a 2.3925 -10.02% -3.54% -2.03% -9.08% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1727 n.a. n.a. n.a.

-24.42% NCM Mutual Fund of the Phils., Inc. -a 1.8296 -6.67% -1.56% 0.43% -6.73% PAMI Horizon Fund, Inc. -a 3.4591 -9.15% -3.02% -0.79% -8.71% Philam Fund, Inc. -a 15.4274 -9.56% -3.3% -0.92% -9.04% 1.9015 -11.6% -4.3% -1.01% -10.4% Solidaritas Fund, Inc. -a Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2503 -16.62% -5.4% -2.14% -15.87% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9309 -9.06% n.a. n.a.

-8.35% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8306 -17.95% n.a. n.a. -16.64% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8049 -20.24% n.a. n.a. -18.96% Sun Life Prosperity Dynamic Fund, Inc. -a 0.801 -19.43% -6.58% -3.01% -17.83% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03908 0.57% 2.67% 2.02% 2.3% 6.94% PAMI Asia Balanced Fund, Inc. -b $1.0421 1.2% 3.97% 2.97% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.1511 10.5% 5.94% 6.29% 6.15% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1664 4.67% 3.06% n.a.

3.34% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 367.94 4.02% 3.08% 2.61% 2.79% ATRAM Corporate Bond Fund, Inc. -a 1.9487 1.84% 0.99% 0.15% 2.46% Cocolife Fixed Income Fund, Inc. -a

3.1999 3.94% 4.86% 5.02% 2.63% Ekklesia Mutual Fund Inc. -a 2.3007 3.69% 2.78% 2.35% 3.48% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4528 4.47% 3.4% 1.98% 3.97% Philam Bond Fund, Inc. -a 4.6687 7.84% 4.46% 2.81% 6.76% Philam Managed Income Fund, Inc. -a,6 1.3104 5.73% 4.36% 2.46% 4.27% Philequity Peso Bond Fund, Inc. -a 3.9514 5.64% 4.2% 2.52% 4.31% Soldivo Bond Fund, Inc. -a 1.0372 8.74% 3.6% 2.02% 7.56% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1807 4.95% 4.85% 2.95% 3.42% Sun Life Prosperity GS Fund, Inc. -a 1.7432 3.79% 4.13% 2.29% 2.47% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $478.65 3.02% 2.47% 2.89% 2.2% ALFM Euro Bond Fund, Inc. -a Є217.16 -1.48% 0.73% 1.16% -1.2% 2.73% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2386 3.25% 2.99% 2.6% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0264 1.54% 1.7% 1.67% 2.33% PAMI Global Bond Fund, Inc -b $1.0901 -1.66% 0.1% 0.42% -0.32% Philam Dollar Bond Fund, Inc. -a $2.4979 2.54% 3.52% 3.46% 3.93% Philequity Dollar Income Fund Inc. -a $0.0610386 1.29% 2.06% 2.04% 1.22% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2256 0.85% 1.98% 2.69% 1.59% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129 3.56% 3.3% 2.51% 2.52% First Metro Save and Learn Money Market Fund, Inc. -a 1.0443 2.22% n.a. n.a.

1.75% Sun Life Prosperity Money Market Fund, Inc. -a 1.2892 2.89% 3.03% 2.61% 1.91% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0482 1.58% n.a. n.a.

0.95% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.0145 n.a. n.a. n.a. n.a.

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.95 n.a. n.a. n.a.

-4.04%

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

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

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

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

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

www.businessmirror.com.ph

Banking&Finance BusinessMirror

PHL banks boost digital efforts amid pandemic

By Tyrone Jasper C. Piad @Tyronepiad

P

hilippine banks are expected to beef up digital efforts as the coronavirus pandemic restricts mobility amid lockdown measures, according to a report by the FintechAlliance.ph.

The financial technology (Fintech) group, in its recent release titled “The Philippines Fintech Report 2020,” noted that mobile banking and e-wallets downloads are on the rise since the country was placed under a community quarantine back in March.

FintechAlliance.ph observed that banks such as the LandBank of the Philippines, Union Bank of the Philippines and Rizal Commercial Banking Corp. have been accelerating digital banking services improvements through mobile applications.

“With imposed lockdowns and mobility restrictions brought about

by Covid-19 [coronavirus disease 2019], we will see a reduction of brickand-mortar branches,” the report reads. “More banks will further intensify its digitalization initiatives.”

As of end-2019, there are 547 bank head offices and over 12,200 bank branches.

FintechAlliance.ph noted that an automated teller machine (ATM) was the top electronic facility used by a majority of the Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions in 2019.

Majority or 88 percent said they have an ATM facility, with corresponding payment transaction value

of P6.32 trillion—showing 7 percent year-on-year growth—last year.

Meanwhile, 47 percent said they offer mobile banking and electronic money (e-money) issuance and 18 percent uses credit cards.

In 2019, payment transactions of credit card facilities grew by 18 percent to P1.23 trillion; e-money, 36 percent, P730 billion; and debit card, 15 percent, P451 billion.

There are nearly 200 fintech players in the Philippines currently, bulk or 24 percent of which are in lending services. Other major service offerings are payments (21 percent), e-wallets (12 percent), remittance (12 percent) and blockchain/crypto (8 percent).

“The Philippines fintech has been observed to take the opposite direction of majority of other industries,” FintechAlliance.ph Chairman Angelito M. Villanueva said. “Exponential growth in use and adoption has been observed, among other benchmarks.”

BSP Governor Benjamin E. Diokno said that the agency has been making efforts to expand the digital finance ecosystem in the past years.

One of them is the drafting of guidelines on the establishment of digital banks whose licensing regime is under the Central Bank’s Digital Payments Transformation Roadmap.

“The current global health emergency has only emphasized the need to democratize access to financial services and address exclusion, benefiting those most hit by the pandemic’s effects on the economy,” Diokno said.

When will we see real normal times again?

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or the past six months or so, we had been through a lot of ordeals.

From being locked down in our homes to the economic downturn of our country and the rise in poverty and, worse, the rising cases and deaths due to Covid-19.

In March of this year, we were hoping that a vaccine will be discovered towards the end of the year. But it seems that this is still far-out since there was no approved vaccine yet in the market as of this time. Many countries in the world are spending time and money to come up with the right vaccines but there’s no official release of any vaccine in sight as of this time.

The World Health Organization lists 26 Covid-19 vaccines currently in human trials, with 12 of them in Phase-2 trials and six in Phase 3. But it will still take months to distribute these vaccines. (www.nature.com, August 2, 2020: “How the pandemic might play out in 2021 and beyond.”)

Given the above scenario, in my assessment (I hope I’m wrong), December is not yet a month for face-to-face big gatherings for Christmas parties. We are on “ber” months already and even if a vaccine will be made available in November, I am sure that by that month, these vaccines will not be available yet for distribution. Let us try to explore scenarios that are forecasted by some medical researchers.

First scenario: although some people will disagree without the vaccines, I also believe that change of habits can radically change the surge of this virus.

Frequent hand washing, mask-wearing, social distancing and strengthening immunity even after strict lockdown can reduce the number of cases.

Given that in December lockdowns will be lifted in the Philippines, to be on the cautious side, we should limit faceto-face gathering to people within the house for Christmas parties. I would not even attend a gathering outside my house with even 10 people or less even if the lockdown is lifted.

We just have to strictly continue to observe the protocols. If the lockdowns are eased, we can go to parks, dine inside restaurants, shop in malls, etc. provided social distancing, mask-wearing, hand washing, etc. are strictly observed.

The second scenario will be the protective capability of our immune system when a vaccine is available or when immunity is developed in a previouslyinfected person.

Covid-19 is a new virus without precedent. While there are vaccines for polio and measles that last for decades, nothing is known yet how long the protection of a vaccine will or antibodies after being

Finex free enterprise Wilma Inventor-Miranda infected will last to continue its protection against this virus. It will take time for researchers to come up with a conclusion and only after a long observation.

There are countries like the United States, those in Europe, Asia and other regions that had lifted lockdowns despite the rising number of cases. Schools in the US opened with children attending classes and workplaces opening with people going to work (although there are still work- from-home cases) and restaurants and parks opening. People in certain countries in these regions don’t even wear masks and observe social distancing anymore.

The advantage they have is they have more mass testing for free coupled with an effective contact tracing and availability of facilities to take care of Covid19 victims. These are rich countries that can afford to provide for their citizens.

But for poor and developing countries like the Philippines, without a vaccine, it will be a big challenge to ease a lockdown given the situation we are in right now.

The lack of good quarantine facilities, lack of mass testing for free or more affordable, the lack of space in the houses of Filipinos for those with family members required to home-quarantine and the need for social distancing among informal settlers are major deterrents in a complete nationwide lifting of lockdowns.

In the meantime, the best we can do as Filipinos is to observe strict protocols whether at home or work, whether there’s a lockdown or not.

What will the future of our country be? With a virus that has no precedent and with no assurance of an effective and lasting vaccine in the coming months, uncertainty looms ahead. But as an optimist at heart sans “rose-colored glasses” (or without disregarding the negative aspects), I still want to subscribe to the motto—no matter how run-of-the-mill it is—to “hope for the best but prepare for the worst.”

Wilma Miranda is the managing partner of Inventor, Miranda & Associates and CPAs, Board of Director member of KPS Outsourcing Inc. and Treasurer of Negros Outsourcing Service Inc. The views expressed herein do not necessarily reflect the opinion of these institutions or the BusinessMirror.

Wednesday, September 9, 2020 B3

Govt to lure OFWs to save, invest via digital platform

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By Bernadette D. Nicolas

@BNicolasBM

he government is luring overseas Filipino workers (OFWs) to shave from their earnings for savings and investment via the newlylaunched digital platform for investment and retirement savings products.

The Department of Finance (DOF) coined the platform as the “Digital Personal Equity and Retirement Account,” or “Digital Pera” (money in English).

Finance Secretary Carlos G. Dominguez III said on Tuesday “OFWs now have the opportunity to make the most of their hardearned pay by saving a portion of it through various Pera-products available, until such time they decide to retire and return home to their loved ones.” “[An] initiative such as the Digi-

tal Pera is the least this government can do for the heroic Filipinos working overseas and helping support our economy,” Dominguez said in his videotaped message during the launch of the platform on September 8.

Done in partnership with the Trust Officers Association of the Philippines (Toap), the Digital Pera is being promoted as “a one-stop shop where investors can open, access and monitor their accounts and settle transactions via InstaPay or PESONet [Philippine EFT (electronic fund

transfer) System and Operations Network] through online banking.”

Dominguez said he expects the platform will also enable Filipinos “to get acquainted with financial products and eventually develop financial literacy, while producing a new source of capital to power the nation’s growth.”

“It will help deepen the country’s local debt market, as it would convert savings into investable funds that can be tapped by Philippine companies,” he said.

Created under Republic Act (RA) 9505, the Pera is a voluntary retirement account that aims to promote capital market development and financial security for Filipinos here and abroad.

Unlike existing national or corporation pension schemes, the Digital PERA does not require deduction from one’s salary to accumulate funds but relies on local worker’s decision to invest up to P100,000 annually to prepare for retirement and up to P200,000 annually for OFWs. Contributions to employees’ Pera can also come from employers.

The Pera Law was enacted in 2008 but its implementation was delayed because of taxation and regulatory issues.

It was under the Duterte administration when these issues were resolved, so that “this powerful investment instrument” can “flourish and finally benefit the Filipino people,” Dominguez said.

The finance chief added the government should encourage life insurance and pre-need companies to take on an active role in promoting savings mobilization through Pera.

Dominguez also encouraged young Filipinos “priming to enjoy their retirement in style” to likewise invest in the Pera through the means that they are most familiar with— a digital platform available on their smartphones.

“Through the current pandemic that we are experiencing, the importance of this transition to digital transactions has been magnified.

The digital PERA is a historic step not only into the ‘New Normal,’ but also into the ‘New Economy,’” he said.

Banks’ marketing execs vow strong cybersecurity

O

fficials of the Bank Marketing Association of the Philippines (BMAP) assured its member-banks are strengthening online security measures as cybercrime and theft are seen evolving.

Cyberthreats such as phishing and smishing are on the rise, the bankers group said, noting that the unprecedented shift to digital amid the pandemic has increased vulnerability to online scams.

“BMAP member-banks are continually stepping up their cybersecurity structure and awareness campaign to increase the resilience of the banking industry against cyberattacks and protect public inter-

est,” BMAP said.

The BMAP is also encouraging the public to remain vigilant of potential cyberattacks and to always verify related news on the matter so as not to fall victim to fake information.

The BMAP told the public to avoid using shared networks or shared computers when accomplishing financial transactions because hackers may access sensitive data, adding that it is necessary to install and update the anti-virus software in one’s device.

“Make sure your computer’s firewall is turned on to block unauthorized communications,” BMAP said.

The BMAP issued the statement a

week after United Coconut Planters Bank (UCPB) reported its system fell under a cyber-attack. The UCPB said in a statement it has implemented security measures to avoid the incident from happening again.

The UCPB said it is currently working with the National Bureau of Investigation and other concerned authorities on the case.

“Pending completion of the investigation, the Bank continues to review and strengthen its IT [information technology] and security controls,” it said.

The BMAP said cybercriminals are creating false emails and social media accounts of financial institu-

KPMG wins at ITR Awards, is Asia Tax Firm of the year

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PMG LLP announced it won across 15 premier national and regional categories at the ITR Asia Tax Awards 2020 organized by financial information services company Euromoney Plc. KPMG was the biggest winner at the prestigious awards, garnering widespread national and regional recognition, the auditing firm said in a statement.

“The firm’s prowess in tax earned it a total of 15 awards, including team wins in the coveted ‘Asia Firm of the Year’ category as well as in key tax, innovation, compliance and reporting and mobility categories.”

At a national level, the KPMG team in Hong Kong scooped wins across both the transfer pricing and tax disputes categories for the third year running. KPMG in Pakistan, Thailand and Vietnam also completed a hat-trick of tax prize victories, winning as ‘Tax Firm of the Year” for the third consecutive year (2018, 2019, and now 2020). KPMG firms in China and Singapore have been recognized as Firm of the Year 2020 in their respective countries.

KPMG International Cooperative local member KPMG R. G. Manabat & Co. was nominated in three country categories but lost to SyCip Salazar Hernandez & Gatmaitan Law Office as Philippines Tax Firm of the Year, Deloitte Philippines (Navarro Amper & Co.) as Philippines Transfer Pricing Firm of the Year and Zambrano Gruba Caganda & Advincula Law Office as Philippines Tax Disputes Firm of the Year.

David Linke, incoming Global Head of Tax & Legal for KPMG, and currently its Head in Asia Pacific, was quoted in a statement as saying “that KPMG has been recognized as the Asia Tax Firm of the Year

by ITR speaks volumes of the confidence

our clients have in us, and of the quality of advice we provide.”

“Our support of and investment in innovative solutions and technology have benefited our clients and equipped our employees with even more opportunities to help organizations to contribute back to society in the form of responsible tax,” Linke said. “I’m very proud of our people for their achievements.”

KPMG also scooped two inaugural awards, one for “Asia Diversity & Inclusion Firm of the Year,” and the other in the individual category for “Asia Indirect Tax Practice Leader of the Year,” awarded to Lachlan Wolfers, a KPMG partner in China.

Wolfers, who is KPMG’s Global and Asia Pacific Head of Indirect Tax Services, said of the award: “When I began my career, indirect taxes only applied sporadically across the Asia Pacific region, and in some respects was a mere afterthought.”

“However, it is clear that indirect taxes are now becoming an increasingly important component in the strategy and operations of a business,” Wolfers said.

“Digitalization, Customs and supply chain planning, and the likely introduction of new environmental taxes and turnoverbased taxes will only enhance that trend in years to come.”

“The firm has displayed its capability and excellence across the board in winning the largest tax mandates in the Asia Pacific region,” ITR Commercial Editor Prin Shasiharan said of KPMG. “By providing integrated tax and legal advice, the firm has shown the strength-in-depth of its team and resources.”

According to Shasiharan, KPMG’s recognition, coupled with the sheer number of top prizes it has taken, “highlights a successful 2019 for the firm.”

tions and government agencies. The intention is to trick the public into giving their personal and account information.

With this, the group advised to always verify the contact details, official website and social media accounts.

“Don’t open or reply to unsolicited emails as this lets the sender know that your address is valid and can be used for future scams. Be wary of email attachments and free software from unknown sources,” BMAP stressed.

The group also advised to create and use a strong password for accounts. Tyrone Jasper C. Piad

LandBank earmarks ₧3B for bus operators

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he Land Bank of the Philippines is bankrolling a P3-billion loan facility for bus operators seeking capital to modernize their fleet.

In a statement, the state-owned bank said that initiative was under a lending program it christened “I-Rescue for Bus Transport,” which stands for “Interim Rehabilitation Support to Cushion Unfavorably-affected Enterprises by Covid-19 for Better Urban Services Transport.”

The loan facility is aimed at extending funds to public transport cooperatives and corporations for the acquisition of modern public utility buses (PUB) as the government pushes for the Metro Manila Bus Modernization Program.

‘The lending program offers responsive financing to PUB operators to invest in new buses equipped with the latest innovative technology,’ LandBank President and CEO Cecilia C. Borromeo was quoted in the statement as saying.

Borromeo said the lending program also supports the government’s plans for “a modernized transport system that provides commuters with safe, reliable and convenient transportation services.”

Qualified borrowers may avail up to 80 percent of the purchase price of the PUB. The loan has a fixed interest rate of 5 percent annually for the first three years and payable up to a maximum of seven years. The payment period includes the 2-year grace period on the principal.

The loan facility is available until December 31, 2021.

The announcement of the lending program for the transport came two months after the LandBank launched in July a P10billion loan program aimed at boosting recovery efforts of the local government units (LGU) amid the coronavirus pandemic.

Loans will be available to eligible LGUs provided that the total loan exposure is less than their net borrowing capacity according to the computation by the Bureau of Local Government Finance.

The amount of borrowings to be granted depends on the LGU’s project requirement.

The borrowing will carry an interest rate of 4.5 percent per year, but subject to annual re-pricing after the first year based on Landbank’s prevailing interest rate.

Proceeds of the loans can be used to fund acquisition of agricultural produce and equipment and construction of facilities linking products to market. These include market infrastructure development or improvement, mobile market, collection and buying stations, among others. Tyrone Jasper C. Piad

B4

Show BusinessMirror

Wednesday, September 9, 2020 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Michelle Williams, 40; Eric Stonestreet, 49; Adam Sandler, 54; Hugh Grant, 60.

Happy Birthday: Take the initiative, and do what makes you happy. A change you face will challenge you to live life to the fullest. Don’t sit back when you should be moving forward and embracing what life has to offer.

Expand your interests, knowledge and circle of friends.

Delve into unique projects that encourage you to use your creative imagination. Your numbers are 5, 12, 22, 26, 31, 38, 42.

HIS POLITICAL LEANINGS

THIS TV personality has been very much absent from the events and happenings of the past few months, considering that they had an effect on his livelihood.

So why is he keeping a low profile? Even before that devastating event, the TV personality already knew it would happen. He had been informed by some of his friends about it. The truth is, the TV personality is not sympathetic to the company that gave him a home all these years. His political leanings are not aligned with said company, and this was also apparently the reason for his falling out with a former close friend. So what awaits the TV personality, career-wise? He is already a rich man.

NO HOPE FOR THIS LT

SO the network is making noise for a love team that, truthfully, has seen better days. They have some fans but these fans are not enough to sustain the love team. It’s common knowledge that the girl and the guy were never really a couple, nor do they have a future as a real-life couple. But the girl reportedly begged the network to give her a job and said she was willing to be quarantined. Those who work in shows are now quarantined while filming is in progress.

The guy wasn’t that amenable to working with the girl again but the network and his own management encouraged him, so he said yes. This early, the network realizes that the love team will not click with the audience anymore, unless they come up with something extraordinary.

a

ARIES (March 21-April 19): Let the past be the barometer that helps you move forward without hesitation. New beginnings are overdue, and having a positive, forward-thinking attitude will make whatever transition you pursue easier. HHHH Robert Pattinson (left) and John David Washington in a scene from Tenet, director Christopher Nolan’s latest time-bender.

‘Tenet’ tallies $20.2-M as Americans step back into theaters

DREAM HOUSE

SO the actress is finally building her dream house.

This is something she has wanted since she joined show business years ago. Before the pandemic, she had a role in a hit TV show so she was all set financially. But the pandemic happened and while she is hardly penniless, the actress’s income has diminished. So her rich boyfriend (not the actor being linked to her) is helping her with her dream house project. The actress has been with her rich boyfriend for a while although she did try to hook up with the actor.

SOUGHT-AFTER

THERE are many rumors about this and that star transferring to a certain network because it is the only one left. Technically it is not but this network is the one with the capability and desire to produce shows.

Anyway, about 90 percent of the rumors are false.

The network is reportedly interested in just one star right now—a young actress who has had her share of scandals but is very popular and bankable. They were also interested in another female star but her asking price was too much. We don’t know whether the network has approached the young actress. We’re also not sure if the girl is amenable to a transfer. Let’s just wait and see what happens.

N

By Jake Coyle The Associated Press

EW YORK—In a litmus test for American moviegoing in the pandemic, Christopher Nolan’s Tenet brought in an estimated $20.2 million through the holiday weekend in US and Canadian theaters.

The result could be greeted as either the rejuvenation of US cinemas—more Americans went to the movies this weekend than they have in nearly six months—or a reflection of drastically lowered standards for Hollywood’s top blockbusters given the circumstances.

About 70 percent of US movie theaters are currently open; those in the country’s top markets, Los Angeles and New York, remain closed.

Theaters that are operating are limiting audiences to a maximum of 50 percent capacity to distance moviegoers from one another. Tenet played in 2,810 North American locations, about three-fourths of what most major releases typically launch in.

Warner Bros. declined to split up US and Canadian box-office receipts. Theaters in Canada, where Covid-19 cases are much lower than in the US, began showing Tenet a week earlier. The film debuted stateside with nightly preview screenings on Monday through Wednesday before the official opening on Thursday. Warner Bros. included all of the above in its estimated gross on Sunday, along with expected returns for Monday’s Labor Day. Tenet opened stronger in China. It debuted there with $30 million in ticket sales from Friday to Monday. Internationally, Tenet has exceeded expectations. In two weeks of release, its overseas total is $126 million, with a global tally thus far of $146.2 million. Warner Bros. has emphasized that the usual opening-weekend calculus is out the window. Few onlookers felt it was possible to gauge how Tenet would open. The film, which cost $200 million to make and at least $100 million to market, will need to get close to $500 million to break even.

In the film’s favor: It currently has the big screen almost

entirely to itself. Some multiplexes played Tenet as many as 100 times over the weekend. With little else on the horizon, Warner Bros. is counting on a long run for Tenet.

Not in the film’s favor: Audiences didn’t love Nolan’s latest time-bender. Moviegoers gave the thriller, starring John David Washington, Robert Pattinson and Elizabeth Debicki, a “B” CinemaScore, the lowest grade for a Nolan release since 2006’s The Prestige. Reviews (75 percent positive on Rotten Tomatoes) have been good but far from overwhelming.

Warner Bros. declined to make executives available to discuss the opening but said in a statement that Tenet had to be judged differently. “We are in unprecedented territory, so any comparisons to the pre-Covid world would be inequitable and baseless,” said the studio.

Analyzing the film’s performance was virtually impossible, said senior media analyst Paul Dergarabedian for data firm Comscore. He acknowledged North America remains a more challenged marketplace than Europe or Asia, but called it a solid start in what will be lengthy run for Tenet. “It’s going to take a longer time to assess this,” said Dergarabedian. “The win is just to have movies open. To me, that says a lot.”

Hollywood is watching closely. With the majority of the studios’ top productions delayed until next year, the industry is experimenting with how to release its most expensive movies in the Covid-era. The Walt Disney Co. this weekend also debuted its $200 million live-action Mulan remake, but did so as a $30 purchase for Disney+ subscribers.

Disney on Sunday didn’t share digital returns for Mulan—a practice that’s been common among streaming companies and previous anticipated VOD releases, like Universal’s Trolls World Tour and Disney’s own Hamilton.

But Mulan is also playing in theaters in some overseas territories. It began with $5.9 million in Thailand, Taiwan, the Middle East, Singapore and Malaysia. Next week, it debuts theatrically in its most important market: China.

The release of Tenet was also hotly debated, given the health risks associated with indoor gatherings. Several prominent film critics said they wouldn’t review Tenet over ethical concerns.

Theater chains, meanwhile, are struggling to remain solvent. Exhibitors have argued that they need new films to survive. Last weekend offered the first significant opportunity for US cinemas to convince moviegoers to come back.

Disney’s The New Mutants, a long delayed X-Men spinoff, collected about $7 million in 2,412 locations last weekend.

Dipping significantly in its second weekend, its total is now up to $11.6 million.

Fittingly in an upside-down year, the palindromic Tenet—a thriller in which time is reversed—essentially began the summer movie season on the weekend it typically ends.

Labor Day weekend, this year a historical one at the movies, is usually among the sleepiest weekends of the year at cinemas. n

b

TAURUS (April 20-May 20): You’ll secondguess the decisions you make if you are impulsive. You have more options than you realize. Take a moment to discover the possibilities.

Slow down, and follow the path that leads to peace of mind and long-term happiness. HHH

c

GEMINI (May 21-June 20): Someone will play with your emotions if you are gullible or too accommodating. Take a step back, and question the motives behind any requests that someone makes.

Use your intelligence, and you will recognize what’s best for you. Romance is encouraged. HHH

d

CANCER (June 21-July 22): Look for the right moment to make a change. Be direct regarding your plans to deter anyone from intervening at an inconvenient moment. Someone from your past will entice you to consider something that isn’t in your best interest. HHH

e

LEO (July 23-Aug. 22): You’ll capture interest with your charm. Present and market your idea to those who are in a position to help you reach your goal. Pick up the pace, stay in shape and pay attention to your health and well-being. HHHH

f

VIRGO (Aug. 23-Sept. 22): Someone will raise issues, suggesting you reconsider your options. The insight provided will lead to an emotional moment that requires honesty and the need to put the past behind you. HH

g

LIBRA (Sept. 23-Oct. 22): You can resolve sensitive issues if you have a positive attitude.

Offer alternatives that will benefit everyone and compromises that accommodate your suggestions.

Personal improvements will lift your spirits. Intellectual and emotional connections look promising. HHHHH

h

SCORPIO (Oct. 23-Nov. 21): Don’t let a change of plans ruin your day. Take precautions when dealing with situations that have a risk factor involved. Make your health and well-being priorities. Someone who has helped you will ask for a favor. Pay it forward. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Make professional moves or form a partnership.

Review money matters to ensure you are financially stable before making an expenditure that may not be necessary. Someone will take advantage of you if you are gullible. Make romance a priority. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Take time to explain yourself and your actions to someone you love. Unfinished business needs to be dealt with openly and honestly. A change at home will give you a new lease on life. HHH

k

AQUARIUS (Jan. 20-Feb. 18): You’ll face uncertainty regarding personal matters, relationships and domestic issues. Refuse to let an outsider interfere in your business or your decisions. Protect your position, health and reputation.

Focus on self-improvement and nurturing meaningful relationships. Romance is encouraged. HHHHH

l

PISCES (Feb. 19-March 20): An emotional debate will be debilitating. Take a step back from a situation you face with a friend, lover or relative, and consider the consequences before you say something you regret. HH Birthday Baby: You are sensitive, forceful and ambitious.

You are steadfast and productive.

‘got milk?’ by michael liberman The Universal Crossword/Edited by David Steinberg

ACROSS 1 “He likes it!” cereal 5 Pat down, as before a concert 10 Hardly hilly 14 Sign of things to come 15 Ewoks’ moon 16 Four-letter state that isn’t Ohio or Utah 17 “Goddess of Pop” 18 “Two scoops” cereal 20 Empty talk 22 Pharmacist’s recommendation 23 Be a fan of 24 Approximate weight of a paper clip 26 Sylvester’s nemesis 28 “Snap, Crackle, Pop” cereal 33 Milestone for a start-up co.

34 Stringed Indian instrument 35 Gave four stars, say 39 Substandard 41 Cliched Father’s Day gift 42 Tiny amount 43 Make up on stage 45 Pass, as a law 48 What an avocado is high in 49 “I vant to eat your cereal!” cereal

2 “Aw, shucks!”

5 55 Unsung ___ 56 In favor of 57 Plays Othello, e.g.

60 Stop surfing?

64 “Follow your nose!” cereal 67 Wicked 68 Mrs. Krabappel on The Simpsons” 69 Clear, as a chalkboard 70 Bravo star Leakes 71 Snorkeling spot 72 Middle Eastern country with a women-only village 73 “Silly rabbit!” cereal DOWN 1 ___ Ness 2 “I think,” in textspeak 3 Podiatrist’s concerns 4 Infuriate 5 Lamborghini competitor 6 Genetic messenger 7 “Oops!...___ It Again” (Britney Spears album) 8 Mediocre 9 Skater Yamaguchi 10 Little lie

11 Singer whose name is scrambled in her album title Melodrama 12 Anticipate 13 Like many barbecue sauces 19 More recent 21 Bothers 25 Clothing item shaped sort of like Michigan 27 Morales of Ozark 28 TV host Kelly 29 Popular music player 30 Like the other side of the pillow 31 Virtuous person 32 Deliver a sermon 36 Meat alternative 37 And others, for short 38 Inputs for number crunching 40 Costa ___ 44 Title role for Sacha Baron Cohen 46 Clinton who wrote She Persisted 47 Spanish bull 50 Fester, Jesse and Sam 51 Convincing 52 One may be “best and final” 53 Unruly mass 54 Provider of aerial footage

8 Fashion designer Burch 5 59 Fly high 61 At an end 62 Done, in Dijon 63 Show off one’s muscles 65 Buffoon 66 Tire gauge measure

Solution to yesterday’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, September 9, 2020

5 times neck pain is a pain in the neck

Navigating your way through office politics

I

Office politics is a tricky business primarily because people are involved, and people are unpredictable. However, you can manage your reaction and your team’s behavior when you understand your organization’s culture and how things get done.

HAVE heard it said before that when there are two people in a room, there will always be politics. You can never get away from it even if you want to. Those who say they are apolitical have already, ironically, become political because when they say so they already have made a stance against, well, everybody. And in the workplace, you can never really get away from politics especially if you deal with a lot of people.

While you cannot get away from office politics, there are some things you can do to keep from being caught in its gnarly web.

One of the most important skills you can learn to avoid becoming a victim of the political machinery in the workplace is to be observant and be very discerning. You should have the rudimentary skills of reading people and how they interact with other people in the organization. Read up or watch videos on how to read people’s body language so you can be aware of what to look for and what they mean.

A good place to start is with your team. Observe your team and how they interact with each other.

In time, you will know who only goes to you when they need help and ignores you the rest of the time.

You will also notice people who work well together and those who tolerate each other. Each person has their own personality so they will naturally gravitate toward people they like working with. As a leader, you can take advantage of those good working relationships to increase motivation and engagement.

And of all the members in your team, learn how to read your immediate supervisor. At the end of the day, they will be the one evaluating and rating your performance. Learn what ticks him off and what kind of work he expects from the team and, if there is an occasion, specific expectations from you. Learn fast and apply whatever you discover into everything you do until it becomes second nature to you. Knowing how your manager reacts to certain situations helps

you anticipate questions so you can prepare better.

Then go to the organizational chart and familiarize yourself with the reporting lines. This will give you an idea who to go for approval of projects. But if you really want to get things done faster, look for the key players and influencers in the organization. And you will only know these by immersing yourself in the workings of the organization. When I transfer to a new organization, I usually do not say “no” to tasks and projects where I am involved with a lot of people.

This will help me find my bearings and leverage on opportunities where I excel. You then create a network of connections maximizing your strengths.

If there is a formal hierarchy in the organization, there are also informal ones. Just like with team members working well with certain people in your team, departments and offices have a history of how they work together. It would do you good to understand which departments are cooperative and which ones you need to convince. Tenured members of your team can help you identify which those departments and offices are. And if you are a new member of the team, that will give you an opportunity to strengthen the working relationship by building new bridges.

And speaking of bridges, build your own influence.

Start making connections and building relationships with people you closely work with. Always put your best foot forward by noticing and praising people for their ideas and successes. What you give comes back to you hundredfold. Do not be afraid to go out of your way to help when you can. Encourage people with positivity and catch people doing good. Keep an open mind by taking other people’s opinion as another perspective and always find common ground.

If you find these hard to do, then work on your people skills. Like any other skill, people skills can be learned with practice, patience and a few unsuspecting guinea pigs. Some have the natural

skill of making people at ease with them, while some just rub people the wrong way. Take time for selfreflection and asking trusted people with what they think you need to improve in your personality.

When you have mastered a significant amount of people skills, pay it forward. As you improve yourself, make an inventory of what you need help on so you can look for resources to help you develop them. And then write another list of what you can teach others.

Mentoring others can help you solidify your own personal values and in the long run create a group of people who will support you. It also galvanizes what you have learned because the best way to retain a skill is to teach it to others.

But also, do not be naive. Think well of people but be guarded against manipulative people who will use you for their own reasons. There are people so good at pretending to be your ally when they are only using you as a leg up. The sad part is you will only know after the fact. So, guard your heart by using your head—that is the reason why your head is above your heart.

Be warned of people who say bad things about other people. In the company of trusted colleagues and when it is used as an intervention, a group can be effective in implementing change in the behavior of a team member. But when the gossip is destructive, be the buffer and let it stop with you. Even if it is true but you are not part of the solution, do not propagate the information. Foster trust by being a model of trust.

Keep with you what is said in private.

Office politics is a tricky business primarily because people are involved, and people are unpredictable. However, you can manage your reaction and your team’s behavior when you understand your organization’s culture and how things get done. But when you do know how to work your way in the organization, you will discover that working smarter is a lot easier than working hard. n

Alex Gonzaga is loving SM delivery service AS the pandemic and its impact persist, the Call to Deliver service of The SM Store gains more import, with the major retailer launching a new face and a new easy-toremember hotline number. With that, its new ambassador, television host, actress and singer Alex Gonzaga highlights the service’s hotline number #143SM (#14376).

Bridging the convenience of online shopping and premium in-store customer assistance, Call to Deliver started out with a few stores in the Vismin area on April 13 to assist locked-down customers who would be needing essential items from the store.

Since then, it has become available at all SM Stores nationwide. And it’s easy to see why shoppers love the service. It makes everyone a little bit special by bringing a new, complete and happy shopping

experience to customers by providing you with your own personal shopper via Viber ordering/video call ordering/virtual shopping and offering multiple payment options that include Cash on Delivery Credit/ Debit Card, Contactless Payment Options like GrabPay and GCash, online payment and even bank transfers. It also accepts SM Gift Cards and SM Sodexo Gift Passes.

Enjoy your items at front of your door as SM Call to Deliver delivers nationwide.

Sixty-four (64) branches of The SM Store are ready to deliver your items the next day after completing your transaction. Or you may opt to pick-up items at your own convenience through the allotted curbside pick-up point. Alex, who says she and her family have been SM customers for many years, recalls trips to Megamall and North

Edsa from their home in Taytay, excursions she considered very much like “a trip to Baguio.” With that, as brand ambassador, she is “happy to be part of this family, this brand, this product that Filipinos have trusted for years. It’s really an honor and privilege to be part of SM’s new service.”

And she’s loving this new way to shop as with a personal shopper: “It’s nice to be able to talk to someone for orders. It feels good if someone can answer your questions and make some recommendations when you want to buy something.”

As someone who considers shopping retail therapy, Alex’s picks include “everyday essentials like toiletries and face masks, things for the home especially kitchen accessories, gadgets, as well as clothes from The SM Store’s Call to Deliver service.”

SOMETIMES, all it takes is just one aching body part to throw off your entire day.

Take neck pain, for example. A stiff neck limits your head’s range of motion, while the pain brought about by the sudden jerking of the head could leave you with a headache, shoulder and back strain.

On the average, neck pain is rarely serious and often goes away on its own after a few days. To make sure you aren’t directly contributing to it, top hospital Makati Medical Center (MakatiMed, www.makatimed. net.ph), through its Department of Orthopaedics, pinpoints the five things you do every day that could be causing your neck pain—and what you can do about them. n SITTING ALL DAY. Who would have thought that such a sedentary activity could be the reason behind your aching neck? “Sitting behind a desk leads to postural strain in the neck, back, and shoulders,” says Anne Kathleen Ganal-Antonio, MD. “Prevent muscle strain by standing up, stretching, and walking after long periods of time. Also, practice good posture. Sit up straight, with your feet flat on the floor. If working with a computer, adjust the placement of your monitor and keyboard to a comfortable level.” GanalAntonio added that too much bending down of the neck increases the stress on the neck, leading to pain.

It is best to keep the neck in a neutral position. n EXERCISING. Ironically, even an active lifestyle can give you neck pain. Certain workouts (like crunches or yoga positions) and sports (golf, swimming, cycling) can strain your neck if done poorly or in a wrong position. “Ask your trainer or coach to help you execute the proper form for your workout or sport,” advises Ganal-Antonio.

“You can also ease neck pain with this simple stretch. Facing forward, slowly bend your head to the right. Hold for three seconds, then go back to your starting position and slowly bend your head to the left. Hold for three seconds then go back to the starting position. Repeat 10 times.” n SLEEPING THE WRONG WAY. Bedtime is supposed to be restful and relaxing—until you wake up after sleeping in a position that strains your neck. “When you sleep on your stomach, your neck is turned to one side. Holding that position for hours strains your neck muscles, giving you that stiff feeling in the morning,” she points out.

“Try sleeping on your back with a pillow underneath your knees to relax your lower back, or on your side with a pillow between your legs. The kind of bed or pillow type is a subjective preference.”

“Laying your head on a too-high pillow also strains your neck; replace it with a lower one,” adds GanalAntonio. “Travel pillows for the neck are also helpful as they support your head while you sleep sitting down.” Interestingly the lack of sleep has an indirect effect on the neck. “Sleep is the time when the body repairs itself,” says Ganal-Antonio. “When you don’t sleep enough, you become sluggish and achy.” n CARRYING HEAVY BAGS. Besides affecting your posture and the way you walk, lugging a heavy bag strains the trapezius muscle on the top of your shoulder, and affects nearby body parts like the neck and back. “To ease strain on your neck, shoulders, and back, lessen the amount of things inside your bag,” Ganal-Antonio explains. “Also, look for bags with wide straps because they distribute the weight of your bag over a wider area. Cross-body bags also evenly distribute the weight of your bag. When using backpacks, have this close to your back to provide support. Avoid just using one strap, as this makes the weight and posture uneven.” n USING A SMARTPHONE. Whether you’re taking a call with your phone cradled between your ear and shoulder, or are catching up on your social-media feeds by looking down at your phone, you can bet your neck’s going to feel the strain later. “We call that text neck,” says Ganal-Antonio of the latter. “To prevent straining your neck from reading from your phone, take mini-breaks to move and stretch your neck and back, or limit your cellphone use to 20 minutes.”

To address the former, he suggests switching your cellphone between your left ear and right ear instead of favoring one side to take the call.

“Gentle stretches, a soothing massage, a cold compress for 20 minutes, and over-the-counter pain medication can also alleviate neck pain. But if the pain lasts for more than a week and makes simple movements difficult to do, see your family physician immediately,” says Ganal-Antonio.

B5

Wednesday, September 9, 2020

B6

SMFI brings health services to SMDC residents Hans Sy encourages ARISE PH to make disaster risk reduction its advocacy

Challenge accepted! ARISE PH Board of Directors convenes for the first ARISE PH Virtual Board Meeting this year. Upper photo, from left, are: Liza Silerio, PH Representative, ARISE Global; Kenneth Hartigan-Go, MD, MD (UK) School Head, Asian Institute of Management; Antonia Yulo Loyzaga, President, National Resilience Council; VAdm Alexander P. Pama AFP (ret), Consultant for Disaster Resilience, SM Prime Holdings Inc.; (middle) Ed Sunico, Vice President, Unilever Philippines; Dr. Erdsan Rene S. Suero, DPA, National President, Philippine Institute of Civil Engineers, Inc.; Raymond Rufino, Chief Executive Officer, NEO; Hans T. Sy, Chairman of the Executive Committee, SM Prime Holdings Inc.; (below): Rene Meily, President, Philippine Disaster Resilience Foundation (PDRF); Ma. Teresita Medado, PhD, President, Asia Pacific College; Alex B. Cabrera, Chairman and Senior Partner, PwC Philippines; and, Maribeth Marasigan, President and Chief Operating Officer, Aboitiz Foundation.

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RISE Philippines convened and announced its first batch of Board of Directors in a virtual meeting held in September 4. The new and pioneering Board exchanged ideas and further discussed the next steps of the organization to formally set in motion the Alliance’s initial and forthcoming activities to achieve its goal of a disaster-resilient Philippines.

ARISE (Private Sector Alliance for Disaster Resilient Societies) Philippines is a local network of the Global ARISE network, led by the UN Office for Disaster Risk Reduction (UNDRR) where companies from the private sector are enabled to build and develop strategies to make their companies and its constituents resilient to disaster risk. The network supports the UN Office for Disaster Reduction (UNDRR) in its effort to pursue the Sendai Framework for Action for Disaster Risk Reduction 2015-20130, a UN endorsed International agreement aimed to achieve “The substantial reduction of disaster risk and losses in lives, livelihoods and health and in the economic, physical, social, cultural and environmental assets of persons, businesses, communities and countries”.

The newly elected directors are: • Hans T. Sy, Board Member and , Co-Chair, Chairman of the Executive Committee, SM Prime Holdings Inc. • VAdm Alexander P. Pama AFP (ret), Board Member and Co-Chair, Consultant for Disaster Resilience, SM Prime Holdings Inc. • Alex B. Cabrera, Board Member and ViceChair, Chairman and Senior Partner, PwC Philippines Ma. Teresita Medado, PhD,

Board Member and Treasurer, Asia Pacific College, President.

• Maribeth Marasigan, Board Member, President and Chief Operating Officer, Aboitiz Foundation.

• Kenneth Y. Hartigan-Go, MD, MD (UK), Board Member, School Head, Asian Institute of Management.

• Raymond Rufino, Board Member, Chief Executive Officer, NEO. • Rene “Butch” Meily, Board Member, President, Philippine Disaster Resilience Foundation (PDRF).

• Ed Sunico, Board Member, Vice President, Unilever Philippines.

• Antonia Yulo Loyzaga, Board Member, President, National Resilience Council.

• Dr. Erdsan Rene S. Suero, DPA, Board Member, National President, Philippine Institute of Civil Engineers, Inc. In his welcoming remarks, ARISE PH Co-Chair Hans T. Sy persuaded the board to make institutionalization of disaster risk reduction as a business strategy an important part of the organization’s advocacy.

“Consider that your election to the ARISE Board means that you are part of the integral and growing worldwide movement.

As a member, you will have first-hand access to the current life-saving and critical knowledge in DRR methodologies. You’ll be able to strengthen your own company’s DRR using the network that welcomes you with open arms and you will share your programs to help others in return. We can’t predict a crisis or disaster but we can better prepare, and I am sure you will all agree with me that DRR as a good business strategy should be our advocacy,” he said.

During the meeting, VAdm Alexander P. Pama AFP (ret), Board Member and Co-Chair, laid down the organization’s initial plans in response to the COVID-19 crisis in the country. He noted that the organization will likewise have to undertake a significant paradigm shift in order to achieve its vision and mission given that the pandemic has fundamentally upended the nature of the corresponding DRR models.

The initial plans include the Annual General Membership Meeting 2020; Review and Reassessment of Arise Philippines Goals and Objectives with the ARISE Four (4) Priority Areas such as integrating DRR into the financial sector decision making, building the resilience of SMEs, resilient infrastructure, and the role of insurance in DRR and resilience; Setting up KPIs and Target Accomplishments; and, Work Plan for 2020-2023 as the main activity references and drivers. These plans will be further discussed and fine-tuned by the members in the coming days.

ARISE Vice Chair Alex Cabrera noted that the pandemic is a sufficient motivation for the Board to succeed in its goals. “Our job today is pretty much cut out in building a resilient business community and resilient society… I will be very interested to work on what kind of partnerships we can do with the public sector as well and how can we improve the quality of intervention of the public sector in helping ARISE achieve its purpose as an organization,” Cabrera added.

PDRF’s President and ARISE Board Member Butch Meily, on the other hand, encouraged all the members to stand united in boosting their DRR efforts amid the crisis. “If there's one thing that we've learned in this pandemic is that we all have to work together… Unless we are all safe, no one is safe, and I think it's time for the ARISE Board to come together,” he told the members.

Ms. Toni Loyzaga, National Resilience Council President and ARISE Board Member for her part said that, “We (at the NRC) look forward to even close collaboration with ARISE Philippines as it steers the course (of) this country for evidence-based private sector partnerships in pursuit of DRR and resilience development.”

To know more about ARISE Philippines, you may contact its secretariat through arisephilippines@ smprime.com or visit https:// cc.preventionweb.net/arise/asia_pacific/ arise_philippines

More Filipinos see the value of gold

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n August of 2020, business tycoon Warren Buffett bought shares in the Canadian mining company Barrick Gold Corp., reinforcing the value of gold, whose price soared above $2,000 per troy ounce, in the world market. This shows that despite the ongoing global pandemic, the value of gold continues its upward trend.

Chamber of Pawnbrokers of the Philippines, Inc. (CPPI) President, Jean Henri Lhuillier knows the value of gold, all too well, proving how valuable this rare metal is and why Filipinos should realize its importance as a good investment asset.

“Gold remains to be one of the best commodities to invest on because it is a highly liquid asset. There is always a strong local and global market demand for gold and besides this,owning gold also acts as a hedge against inflation and even deflation, because its price tends to rise when the cost of living increases,” said Lhuillier.

Globally, gold has always been seen as a good store of value, evidenced by the fact that people buy gold especially when the local currency is losing value.

Whenever a currency loses its purchasing power due to inflation, gold is normally priced using those same currency units, thus its value increases, along with everything else. ”Locally, more and more people have been investing in gold and jewelry. In fact, this is further evidenced by the overwhelming response of agrowing number of jewelry online selling channels particularly in social media including the buying of foreclosed or what is locally termed as “naremata” items from pawnshops, and then sold via FB Live selling, done by various groups and individuals in the country,” added Lhuillier.

Rematado Sale: A big hit among common Filipino consumers

Based on the actual inventory of Cebuana Lhuillier’s foreclosed jewelry, the number of Filipinos who has been buying these items are growing. In fact, even

during the quarantine period, the number of buyers significantly increased.

“More and more people are now seeing the value of jewelry and gold, for that matter, as good assets to have, especially during times like this. You would be surprised at the types of jewelry being pawned off.

Some are even heirloom pieces and sold at very good prices,” shared Lhuillier.

Aside from it being affordable, pawnshops also provide easy accessibility as they remained openallthroughout the quarantine period being an essential service.

Pawnshops also provide easy acquisition options for clients such as a lay-away program as well as a repawn scheme.

These“rematado” sales in pawnshops has led to a shift in the perception of jewelry, from being only high value and inaccessible to many, to being affordable and accessible to most.

Clients now flock to pawnshops to purchase foreclosed gold jewelry as most, if not all, major pawnshops practice this, including Cebuana Lhuillier, Palawan Pawnshop, M Lhuillier, Villarica Pawnshop, Tambunting, and RD Pawnshop, among others.

Online Jewelry Selling: A welcome option to the market

Aside from rematado selling in branches, pawnshops have likewise started online jewelry selling and the reception from clients has been quite astounding. It has even unraveled new markets like millennials, who did not used to invest in gold or jewelry previously.

Moving with the necessity of the times, pawnshops are now utilizing the use of social media sites like Facebook to sell rematado jewelry. In fact, as much as 10,000 people have tuned in to previously held FB Live sessions where items are sold out within the first hour.

“This move to enable clients to purchase gold

CPPI President Jean Henri Lhuillier

online is very timely since a lot of people are looking to invest on something that appreciates over time, and gold and jewelry is one of them.Social media has definitely made it more accessible for clients, not to mention, safer and convenient for everyone,” claimed Lhuillier.

The wonderful reception of clients to online rematado selling, shows that while retail-based jewelry business is declining because of the current situation, more and more people are now finding ways to acquire and invest in gold and jewelry because of the timely initiative of CPPI-member pawnshops in making use of social media, which has not only benefited them but also their customers.

Part of SMFI medical team on caravan.

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M Foundation, in close collaboration with SM Development Corp (SMDC), brought basic health services for the elderly and other vulnerable residents of SMDC properties during the COVID-19 pandemic.

Aside from providing basic health services, this social good initiative aims to lessen the risk of exposure of the target beneficiaries by providing the basic health intervention they need close to their residence. SMFI setup the medical caravan in a spacious area within the SMDC properties where social distancing will be closely monitored, as well as other necessary safety protocols such as wearing of masks and personal protective equipment.

In addition to the provision of free medical consultation and medicines, SM Foundation also conducted bloodletting

activities simultaneous with the medical caravan at the SMDC properties in cooperation with the Philippine Blood Center (PBC).

For 2019, more than 800 SM employees and external stakeholders were able to donate blood to the PBC through the efforts of SM Foundation. Through the said initiative, almost 2,500 lives were saved as noted by Jerick Laxamana, Blood Donor Recruitment Officer of the Department of Health (DOH) – PBC. SMFI, through its Health and Wellness Program, upgrades public health centers in its host communities, complemented by its medical caravans across the country.

To date, it has renovated more than 160 health and wellness centers and served more than 1 million patients in medical missions.

Market leader Jimini launches top your own frozen pizza

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UNTIME at Home!… A whole new pizza experience only from Jimini Whole Pizza. Family home bonding made more fun with the all-new jimini top your own pizza!

Create your own flavors and name it yourself! Like Jimini (your Name) Superblast! Taste the great goodness of our All-New Jimini Top Your Own Pizza and savor it with your own favorite toppins anytime you like it! Exciting fun times for mom, dad and kids as you make your own Jimini flavors at your homes, Safely!

Like all your favorite Jimini Whole Pizza flavors, the All-New Jimini Top Your Own Pizza is topped with a whole layer of 100% Mozzarella Cheese and sauce base ready to be topped with the toppins of your choice! Be creative and follow your cravings with the All-New Jimini Top Your Own Pizza Anytime and Anywhere!

The All-New Jimini Top Your Own Pizza comes in Supermarket Packs with 3pcs of 6-inches whole pizza perfect for sharing with family and friends. Enjoy great deep-dish pizza at the safety of

your home Anytime!

All Jimini Whole Pizza variants including our Jimini PizzaBars and our newest Jimini Top Your Own line are available online at www.pacificbay.com. ph or at your select favorite premium supermarkets like All Day Marts Libis, All Day Marts Vista Mall Las Piñas, All Day Marts Vista Mall Taguig, Waltermart North Edsa, Waltermart Makati, Waltermart Pasay, Waltermart Sta Maria, Landmark Trinoma, Landmark Alabang, Landmark Makati, Shopwise Alabang, Shopwise Antipolo, Shopwise Araneta, Shopwise Commonwealth, Shopwise Libis, Shopwise Sucat, Robinsons Alabang Hills, Robinsons Antipolo, Robinsons Eastwood, Robinsons Galleria, Robinsons Selections Forbes Taguig, Robinsons Selections Mckinley, Robinsons Magnolia, Robinsons Z-Square Banawe, Rustan’s Katipunan, Rustan’s Makati, Rustan’s Pontevia, Rustan’s Rockwell, Rustan’s Shangri-La, and Rustan’s Tomas Morato. You may also visit us at our website [www.jiminifoodsgroup.com] Hate Delivery? Love Jimini! A Whole New Pizza Experience!

BusinessMirror

Editor: Tet Andolong

Wednesday, September 9, 2020 B7

Developing communities

the Ayala Land way F

By Rizal Raoul S. Reyes @brownindio

or any business, location is quite important to thrive and succeed.

The importance of location was highlighted during the Covid-19 pandemic wherein people have been experiencing limited movement.

With the reality of having restricted movement under the lockdown period, property developers are now giving more importance in developing projects that provide the basic essentials.

Ayala Land has an excellent track record in developing master-planned estates that offer a balanced mix of residential, commercial, lifestyle components, and green open spaces that help communities and businesses grow.

Vermosa, Ayala Land’s 725-hectare mixed-use estate in Cavite, is an example of a well-planned estate.

Ayala Land Estates AVP Cris Zuluaga pointed out the original plan of Vermosa to house a one-of-a-kind sports complex is just timely as it seeks to promote a community with a balanced and active lifestyle, which has become all the more important in this pandemic.

He added Vermosa could provide locators good business opportunities from the young and active population surrounding Cavite towns and nearby Alabang has to offer, not to mention about 500,000 workers the estate is expected to have once fully completed.

Zuluaga also noted it is also a bustling area with commercial, industrial, and IT zones, presenting solid opportunities for anyone looking to enter that market.

“The potential for growth in this area of Cavite continues to be unmistakable despite of the impact of the pandemic to construction and development, but we are now back on track with the easing of quarantine guidelines,” Zuluaga said.

“We maintain an optimistic view of the future of our estates as these are designed for the long term and are all grounded on sustainability,” added

Artist’s perspective of Vermosa estate, master plan.

Alviera’s planned community center

Zuluaga.

Meanwhile in the Calabarzon area, Nuvali, Ayala Land’s 2,290-hectare eco-city development spanning the cities of Santa Rosa, Cabuyao and Calamba in Laguna, is emerging as its premier regional growth center and is positioned to follow the path of Makati as the next business and lifestyle district in the south.

Zuluaga said Ayala Land wants to expand the number of locators in Nuvali as it continues to offer commercial lots for Peza and non-Peza locators in the estate.

East Bloc, its upcoming commercial district, would be the perfect place to set up office buildings, hotels, condominiums, or other institutional facilities.

Moreover, Zuluaga said Nuvali also houses Lakeside Evozone, a 65-hectare commercial district which has already attracted multinational customer solutions firms Concentrix and IBM and into their BPO offices in this

Nuvali Lakeside Evozone

part of Laguna. Retail and recreational facilities like Ayala Malls Solenad, Seda Hotel and The Monochrome Events Place are also rooted within the district.

The 74-hectare mixed-use estate Arca South is geared to be another success for Ayala Land because of its proximity to Makati and Bonifacio Global City.

Zuluaga stressed Arca South is a good investment now since prices are bound to appreciate the same way other Ayala Land properties have. Land values at Bonifacio Global City have posted a 17-percent compounded annual growth rate (CAGR) since 2003, while land values in Makati CBD have shown CAGR of 14 percent since 1994.

Zuluaga said the appeal of Arca South’s commercial district to investors will get stronger as it is accessible to several upcoming government infrastructure projects, such as the South East Metro Manila Expressway, Taguig Inte-

grated Terminal Exchange, and the Mega Manila Subway.

Zuluaga said the development of Alviera will enhance Ayala Land’s position in the north. Alviera, in partnership with Leonio Land, is the 1,800-hectare urban development in Pampanga intertwined with the natural features and views of Porac.

Alviera is just five minutes away from the SCTEx Porac exit, 20 minutes from the Clark International Airport, 45 minutes from the Subic Freeport and 1.5hour drive from Manila. Zuluaga said Alviera offers a strategic location for multinational and regional businesses looking to take advantage of emerging economies in the Central and North Luzon regions.

East Commercial Center,one of Alviera’s key centers, allow lot owners to utilize their property into commercial, institutional, multi-family residential, or accommodation uses. This com-

mercial district is strategically surrounded by institutional facility, Holy Angel University, the 64-hectare Alviera industrial park, as well as different Ayala Land residential brands such as Alveo and Avida.

The estate management unit of the company will ensure that communities r un smoot h ly, adapt and recover quickly from challenges.

“Soon, confidence will return; economic activities will increase, and so our efforts today are focused on ensuring that our developments are well-positioned for resurgence and remain as strong platforms for growth,” Zuluaga shared.

As the pandemic continues to pummel the country with living in the new normal, Ayala Land is pulling all the stops to enable a resident, office worker, or business owner in an Ayala Land commuity to hope of a better life in the future.

Residential market still strong in H1 amid virus

By Roderick L. Abad Contributor

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ITIES with central business districts (CBD) continue to have a strong residential market for the first half of the year as they remain popular among property seekers, revealed the Lamudi’s latest trend report.

Per the study, titled “The Outlook on the Residential Market: Property investment as a safe haven during a crisis,” most of the potential clients were interested to buy or rent a property (house, condo, apartment, or foreclosed) from Quezon City, accounting for 26 percent of the total inquired cities on Lamudi from January to June 2020.

This was followed by Makati (12 percent), Pasig (10 percent), and Taguig (9 percent)—all cities in Metro Manila with a CBD. In Quezon City, there are three CBDs—Eastwood City, Araneta City and Triangle City. Makati City’s CBD is in the Ayala Makati area. On the other hand, Pasig City has the Ortigas Center as Taguig City has Bonifacio Global City.

Meanwhile, other sought-after cities in the National Capital Region (NCR) by homeseekers were Manila (9 percent), Parañaque (8 percent), Mandaluyong (7 percent), Las Piñas (5 percent), Muntinlupa (3 percent), Pasay (3 percent), and others (8 percent).

In terms of views on Lamudi platform in the first six months of the year, house hunters looked at Quezon City (28 percent), Makati (14 percent), Pasig (10 percent), Taguig (9 percent), Manila (8 percent), Parañaque (8 percent), Mandaluyong (6 percent), Las Piñas (6 percent), Muntinlupa (5 percent), Marikina (3 percent), and others (3 percent).

Per Lamudi’s report, property seekers may have looked for residential estates closer to their workplaces since public transportation was suspended from March to May and was on limited operations due to government-imposed lockdowns in NCR and other areas.

In particular, they’re mostly those who have been deemed as essential workers and are at higher risk to the coronavirus disease 2019 (Covid-19).

This move can also keep their loved ones safe from Covid-19, especially if there are family members that are more susceptible to the virulent illness, the study added.

The art of collaborative design at The Seasons Residences in BGC W

hat does it take to bring a piece of Japan to Manila? Collaboration is needed to seamlessly fuse Japanese innovation with Filipino hospitality and create a unique development that will redefine the real-estate market.

The Seasons Residences in Bonifacio Global City, the upscale Japanese-inspired condominium project by Federal Land Inc. in partnership with Nomura Real Estate Development Co. Ltd. and Isetan Mitsukoshi Holdings Ltd., is set to exceed the standard. Through the shared expertise of the developer and its world-renowned partners, the design and structure of The Seasons Residences make it more than just a technical collaboration, but of cultural harmony as well.

Industry experts from design, architecture, and engineering from both Tokyo and Manila were commissioned for the project, making The Seasons Residences a masterwork of collaborative design.

The master plan is designed by Nikken Sekkei, a Japanese architectural firm ranked No. 2 in Building Design’s 2019 World Architecture top 100 list. Established in 1900, Nikken Sekkei has completed over 20,000 projects in 40 countries and 200 cities worldwide. Their expertise is not

just limited to architecture and design, but also in construction-related services which ensures consistency and quality of work. Some of their recent notable projects are Roppongi Hills Residences and Tokyo Midtown in Tokyo, Japan. Lending a hand with their prominent interior design work is Nomura Co. Ltd. led by Creative Director Shunsuke Saeki. Renowned for its “space creation” and “space visualization” philosophies, the company is tasked to design the commercial area to incorporate distinct Japanese spatial characteristics.

The concept behind the façade of the podium, on the other hand, is the brainchild of Torafu Architects led by up-andcoming designers, Koichi Suzuno and Shinya Kamuro. The company has established itself on a wide array of projects ranging from architectural design, interior design, exhibition space design, to product design. Working hand-in-hand with Torafu’s façade concept is Asao Tokolo, a modern master of pattern design and the artist

Artist’s perspective of The Seasons Residences

behind the Tokyo Olympics 2020 emblem.

Working with Japanese partners are elite groups of Filipino architects and engineers.

Arch. Carmelo Casas of Casas+Architects spearheads the construction process of The Seasons Residences as the project architect. Known for remarkable landmarks

such as the Grand Hyatt Manila and Solaire Resort and Casino, Casas+Architects is sought-after for their expertise in highrise residential and office building design and master planning.

Since both Japan and the Philippines experience frequent earthquakes, The Seasons Residences needs to be prop-

erly equipped to mitigate the effects of violent tremors. Engr. Raul Manlapig of Ove Arup & Partners Hong Kong Ltd. provides the structural, wind, and seismic engineering services for The Season Residences. The company equips The Seasons Residences with Viscoelastic Coupling Dampers (VCDs), a Japanese damping technology which absorbs wind or quakeinduced vibrations in tall buildings.

Federal Land Inc. also tapped DCCD Engineering Corp. as the MEPF Consultant of the project. DCCD Engineering is in charge of the design and implementation of the mechanical, electrical, plumbing, and fire protection plans of The Seasons Residences. DCCD Engineering Corp. has an impeccable track record of completing more than 10,000 engineering and consulting assignments since its inception in 1957.

To complete the Japanese aesthetics of The Seasons Residences, GF & Partners provides a Zen-inspired interior design to the amenities and common areas in

collaboration with Japanese partners. GF & Partners is an architecture and design firm known for their contributions to The Peninsula Manila, GT Tower International, and US Embassy in the Philippines.

The coming together of industry experts will set the bar higher for upscale residential areas in BGC and the country.

The Seasons Residences is poised to become the standard of premium living with its sophisticated design and world-class safety features. Its timeless aesthetic, combined with improved safety and comfort made possible through advanced design and engineering ensures that it will be a landmark in BGC’s skyline for decades to come.

To know more about the project, e-mail The Seasons Residences at invest@federalland.ph or visit the showroom at 7th Ave. cor. 34th St., Grand Central Park, North BGC, Taguig City (across the Lexus Manila Showroom). Haru, the development’s first tower, is set for completion in 2023, while Mitsukoshi Mall will open in 2021. Natsu, its second tower is now on pre-selling stage.

Sports BusinessMirror

B8 Wednesday, September 9, 2020

mirror_sports@yahoo.com.ph / Editor: Jun Lomibao

DE VERA TO SCHOOLS: SIMPLY CALL ME

By Jun Lomibao

O

N hindsight, the damage caused

by University of Santo Tomas (UST) men’s basketball Coach Aldin Ayo’s Sorsogon City bubble could have been avoided.

Had Ayo—or UST officials—asked the Commission on Higher Education (CHED) about his intention to keep the Growling Tigers in fighting shape while quarantines are enforced, there would be no “bubble” crisis.

“A simple phone call would have prevented the problem,” CHED Chairman Prospero de Vera III told BusinessMirror on Tuesday, adding the resigned UST coach, through university officials, didn’t have to go deep into complications for the Tigers to resume training amid the Covid-19 pandemic.

“The CHED is here to help all universities and colleges,” De Vera said. “We have a specific team that handles such cases—requests— that borders on seeking exemptions from the protocols imposed by the IATF [Inter-Agency Task Force on the Management of Emerging Infectious Diseases].”

“I don’t understand why the universities do not coordinate with CHED,” he said.

The UST Sorsogon City bubble is bound to

Organizers, IOC try to erase doubts over Tokyo Olympics

Al Mendoza alsol47@yahoo.com

THAT’S ALL

turn even uglier.

Tigers captain CJ Cansino was dropped from the team because of defiance and three players transferred to other schools. The UST athletic department was rattled with Fr. Ermito de Sagon, OP, making a comeback to replace Fr. Jannel Abogado, who quit amid the controversy.

UST acknowledged the bubble but stressed it was “not a university-ordered activity”—but the school still has to heed the CHED’s show cause order and explain why it should not be penalized for violating IATF guidelines.

Ayo resigned as the kitchen got too hot for his tough coaching acumen, leaving a Tigers’ lair in disarray.

The ill-advised bubble is now under the scrutiny of the IATF and the Department of Justice, which was tasked by Malacañang to handle violations of protocols during the pandemic.

And comes the Department of the Interior and Local Government (DILG) as a major part of the picture.

“Did the UST team violate ordinances imposed by LGU’s when they traveled to Sorsogon City?” said De Vera, stressing the bubble is one complicated issue that involves several government agencies.

But de Vera painted the bubble as one major

lesson learned during the pandemic.

“There is a right way to do it, and there is a wrong way to do it,” De Vera said. “If you want to be exempted [UST team holding a bubble], make a request to the CHED, do a workable proposal.”

De Vera said dozens of schools have submitted proposals for exemptions for various reasons and that many, if not most of them, were granted by the IATF. He also said that several reports of IATF guidelines violations have passed through his desk and are now being investigated, including National University’s (NU) case that involves its student athletes getting stranded at the school’s Manila and Calamba campuses.

“The universities should not hide anything from the CHED, we can work things out,” he said.

The University Athletic Association of the Philippines (UAAP), meanwhile, praised the CHED for creating a technical working group (TWG) that would formulate return-to-training guidelines for student athletes.

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TOUR REST DAY LIKE NO OTHER

Ayo out in the cold

CHAIRMAN Prospero de Vera III says the Commission on Higher Education is here to help colleges and universities during the pandemic.

“The UAAP is committed to helping with this initiative as one of our stakeholders of collegiate sports in the country,” the league said in a statement.

“We will be presenting our point of view as an athletic association as well as those of our individual member-schools responsible for the care of student athletes,” it added.

UAAP Executive Director Rebo Saguisag is part of the TWG along with UP College of Human Kinetics Dean Francis Diaz and Far Eastern

University Athletic Director Mark Molina.

The National Collegiate Athletic Association (NCAA), on the other hand, would only order its student athletes to return to training once face-to-face classes resume.

“The position of the NCAA is that if there are no face-to-face classes, we won’t allow face-toface practice,” NCAA Season 96 Chairman Fr. Vic Calvo of Letran said.

The NCAA also has a representatives to the TWG. With Ramon Rafael Bonilla

OKYO—The International Olympic Committee (IOC) and Japanese organizers are trying to convince the public that the postponed Tokyo Olympics will take place next year despite the Covid-19 pandemic.

Tokyo organizing committee CEO Toshiro Muto said last week that the Games could go ahead without a vaccine. This week John Coates, the IOC member who oversees the Tokyo Olympics, said the Games would happen despite the pandemic.

Coates is to appear Wednesday in a virtual meeting with the IOC executive board. He is expected to give an upbeat assessment of Tokyo’s prospects.

Several recent public opinion polls have shown skepticism from the Japanese public and the business community that the Games can go on—or should go on.

“We can tell you that the IOC is fully committed to celebrating the Games of the 32nd Olympiad next year in Tokyo,’’ organizing committee spokesman Masa Takaya said Tuesday. ”We have begun formulating the concrete steps we will take.”

City, government, and Tokyo Olympic officials gathered last week in the first of a string of meetings to plan for countermeasures against Covid-19.

Panels will make plans to deal with possible quarantines, getting athletes into Japan, Covid-19 testing, measures to keep venues safe, anti-virus measures at the Athletes’ Village and immigration issues. They’ll also consider if fans will be allowed, and if non-Japanese fans will be among them. AP

A ROCHELLE, France—It was a rest day like no other for the Tour de France bunch.

After nine nervous and exhausting stages that took the peloton from the Riviera to the Pyrenees via a short journey in the Alps, riders would have normally taken some time off on Monday with their friends and families.

But this year is different.

In addition to their recovery routine, the 166 remaining riders stayed in their own “bubble” with a Damocles sword hanging over their head as they underwent coronavirus tests that will decide whether they can keep on racing.

“It’s disturbing, but we need to be patient,” said French rider Warren Barguil, sitting alongside his Arkea-Samsic team leader Nairo Quintana during a video conference. “We’ll see our families in Paris on September 20.”

Even with the video filter separating them from reporters, both riders kept their face masks on as they answered questions.

Tour de France organizers said about 650 tests will be performed. Some took place on Sunday, with the majority of riders being tested Monday.

Under threat of cancelation at some point—more than 30,000 people in France have died after contracting the coronavirus, making the country one of the hardest-hit in Europe—

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Johnson finally wins FedEx Cup, cashes in $15M

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TLANTA—Dustin Johnson only looks like he plays without a pulse. Beneath his stoic stare and that swagger as he walked the fairways of East Lake were jangled nerves Monday because it meant so much to him.

The $15 million prize for winning the FedEx Cup? That would get anyone’s attention, especially someone who thought he was rich when Johnson cashed his first tournament check as a Professional Golfers Association (PGA) Tour rookie for $113,571.

But there was more.

“The prestige, for sure,” Johnson said after

delivering a key par putt and steady play down the stretch for a 2-under 68 and a three-shot victory in the Tour Championship.

“Being a FedEx Cup champion is something that I really wanted to do. I wanted to hold that trophy at the end of the day,” Johnson said. “It was something that I wanted to accomplish

REIGNING champion Egan Bernal (right), wearing the Best Young Rider’s white jersey, and Peter Sagan, donned with the Best Sprinter’s green jersey, wear masks at the start line before the ninth stage on Sunday. AP

the Tour has been salvaged by pushing it back from its traditional July date to end of the summer. The price paid for the race to be run is a heavy sanitary protocol which includes mandatory Covid-19 testing for riders and teams staff members on rest days.

All were tested before the Tour started in Nice and have since lived in the race quarantine, making sure they stayed away from fans and

during my career.”

He did it by hitting his stride at just the right time.

He won two of the three FedEx Cup postseason events and lost in a playoff by a 65-foot putt in the other. It all came down to the final day of the final event, and even with a five-shot lead, it was never easy.

Xander Schauffele and Justin Thomas each got

sponsors usually omnipresent during the three weeks of the popular event.

After four staff members of the Belgian team Lotto-Soudal were sent home following abnormal coronavirus tests on the eve of the Tour, the race has been run without any further Covid-19-related incidents.

But keeping the social distancing with the roadside crowds in place has not been an easy

within three shots on the front nine. They each got within two shots of Johnson with two holes to play. He never let them catch them, and his only birdie of the back nine on the final hole gave him his third victory since June and the 23rd of his PGA Tour career.

“It’s a very tough trophy to win,” Johnson said. “I controlled my own destiny, but I still

Serena yells to herself: Keep fighting!

N DUSTIN JOHNSON earns the prestige of being a FedEx Cup champion. AP

EW YORK—Her breathing loud enough to hear in an empty Arthur Ashe Stadium, her third-set deficit a point from growing to 3-1 against someone who beat her less than two weeks earlier, Serena Williams scrambled to extend a 13-stroke exchange until her opponent netted a forehand.

“Keep fighting!” Williams exhorted herself.

Locked in a tough fourth-round match Monday, and without the benefit of a proAmerican audience, Williams provided her own encouragement along the way to coming back and beating 15th-seeded Maria Sakkari of Greece, 6-3, 6-7 (6), 6-3, reaching the quarterfinals in a 12th consecutive appearance at Flushing Meadows.

“I feel like I’m pretty vocal with or without a crowd.... I’m super passionate. This is my job. This is

what I wake up to do. This is what I train to do, 365 days of the year,” said Williams, who moved a step closer to a record-tying 24th Grand Slam title.

“Yeah, I’m always going to bring that fire and that passion,” she continued, “and that ‘Serena’ to the court.”

When the match ended, after Williams collected six of the last seven games, she turned and yelled toward her husband, who stood at his front-row seat and yelled right back.

How tight was this contest? Sakkari produced more aces than Williams, 13-12, and more total winners, 35-30.

Williams was two points from victory at 6-all in the second-set tiebreaker, but faltered there, sending a backhand return long to give Sakkari her fifth set point, then pushing a forehand out.

task. During Saturday’s first stage in the Pyrenees mountains, many spectators without masks did not respect the 2-meter distance required by organizers as they cheered their favorite riders.

Although test results are not expected to be unveiled before Tuesday, teams will soon find out whether the virus has contaminated the race bubble.

“It would really be a shame to see a rider excluded from the Tour de France because he has been cheered on by not attentive enough fans,” Cofidis Team Manager Cedric Vasseur said.

The next round of testing could indeed throw the race into turmoil. Anyone who tests positive will have to leave the race and any team with more than two positive tests—either rider or staff—within seven days will be thrown out.

To avoid false positive results that could rule healthy riders out of contention, Tour organizers have said they will try to perform a retest and a blood analysis as quickly as possible. They have set up a mobile coronavirus lab that can produce results in two hours.

Following Sunday’s final stage in the Pyrenees, where Primoz Roglic of Slovenia seized the race leader’s yellow jersey, the 22 Tour teams have traveled by bus to the western Charente region. The race resumes Tuesday with a flat stage linking two islands, the Ile d’Oleron and the Ile de Re. Roglic leads defending champion Egan Bernal by 21 seconds with Frenchman Guillaume Martin in third place, 28 seconds off the pace. AP

had to go out and play well. I had a lot of great players right behind me. It got close at the end. I knew it was going to come down the stretch and I’d have to hit some golf shots.” AP But as is so often the case, when the outcome was hanging in the balance in the third set, which Sakkari led 2-0 but couldn’t quite get to 3-1, Williams was better down the stretch, when it mattered the most.

“I have to be deadly honest: I wasn’t brave enough in the third set. I kind of like, not choked, but didn’t [convert] my chances,” Sakkari said. “And if you don’t get your chances with a good Serena against you, it’s done.”

Williams, who turns 39 in less than three weeks, will face unseeded Tsvetana Pironkova for a semifinal berth.

Playing in her first tournament in more than three years after taking time off to have a child, the 32-year-old Pironkova advanced with a 6-4, 7-6 (5), 6-3 victory over Alize Cornet. AP

THE government rule is very clear: No training or any form of activity in sports during the pandemic. This is to help avoid the spread of the coronavirus bedeviling the globe since March.

But almost in every rule there is an exception and, in the case at hand, professional basketball and football are the exemptions.

That is why the PBA (Philippine Basketball Association) and the PFF (Philippine Football Federation) have been implementing their government-approved respective drills for quite some time now.

But obviously unknown to all and sundry, some sectors from the amateur backyard had broken the rule—in clandestine fashion yet.

In one fell swoop, the University of Santo Tomas (UST) was exposed as the amateur world’s first high-profile law-breaker. This came to the fore when news broke out that its top basketball player, CJ Cansino, had transformed from Tiger to Maroon.

The leak to the media was forthcoming because how can one hide the hop from UST to University of the Philippines (UP)-Diliman, when the deserter himself is the basketball squad’s team captain?

It would not have mattered, perhaps, if Cansino was a bench-warmer.

And, adding fuel to the fire, didn’t Cansino bolt the UST’s training camp in faraway Sorsogon in defiance of his coach’s authority?

Grist for news.

No doubt UST’s basketball Coach Aldin Ayo instigated the team’s secret training—a palpable violation of government protocols.

Ayo didn’t deny reports he threatened to kick Cansino out of the UST squad if Cansino left Sorsogon for Manila.

Cansino called Ayo’s bluff, triggering the Ayo-authored training violations to explode into the open.

Exacerbating the issue is the exodus of three more Tigers to other schools, the latest of which was Rhenz Abando, who, reportedly, is transferring (a done deal?) his much-bandied repertoire of shots to Letran in the next season.

As a result of the Tiger storm, the first victim was the UST’s athletic director, who promptly resigned even before the official probe of the controversy could begin. A salute to him for his dignified stance.

Ayo would follow next, quitting as UST coach before he could be meted a penalty by the UAAP (University Athletic Association of the Philippines) technical committee. A salute to him, too, for owning up his mess.

Like it or not, Ayo is liable for his actions before both the UAAP and the government through the IATF (Inter-Agency Task Force) on the Management of Emerging Infectious Diseases.

If the UAAP committee would exact a light penalty on Ayo, fine. For, by resigning as UST coach, the multititled mentor has, in effect, punished himself already.

And when the UAAP is done punishing Ayo, will the government still throw the book at Ayo? If yes, it can only mean one thing: Ayo will twist in the wind as a chief model for disrespecting the law.

Ouch!

THAT’S IT With momentum regained following their series-tying 117-97 Game Two victory on Monday (PHL time), the Los Angeles Lakers gun for the go-ahead win today in Game Three against the Houston Rockets of their West Conference playoffs in Lake Buena Vista, Florida.

But in the East series, will Milwaukee win back-toback, also today, to further chop Miami’s lead down to 3-2? These are interesting times, indeed.

SERENA WILLIAMS provides her own encouragement in crowd-less US Open. AP

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TURNING PATRIOTIC

Rekindling the ‘Bayanihan’ spirit in this time of the pandemic

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By Leony Garcia

ISTORY and medical records show that no global disease outbreak since the Spanish Flu of 1918 has affected the world’s populace like the novel Coronavirus Disease (CoViD-19).

For seven months now, societies are coping with the ongoing pandemic, with countries around the world still struggling to flatten their case numbers while keeping their economies afloat—a volatile balancing act between humanity and economy.

It's a good thing corporate sustainability is alive and kicking in the midst of the pandemic. Leading the way in advancing business and communities amid Covid-19 in the Philippines is the Aboitiz

Group, an organization which for a hundred years has been giving back to the community.

As of August, Aboitiz has reported to have contributed over P2.2 billion to help the government, frontliners, and communities deal with the COVID-19 crisis.

The Group’s corporate social responsibility arm, Aboitiz Foundation, Inc., facilitated nationwide donations together with Aboitiz business units and utilized its online crowdfunding platform ‘Kinder’ to raise

cal sectors that will help keep our economy moving. We will continue to provide reliable and ample power supply to the country; ensure food security along with our partners; continue to create better ways to live; and ensure sufficient and domestically-produced cement of good quality to support the country’s infrastructure initiatives,” he said.

"Aboitiz is committed to providing unhampered delivery of products and services across critical sectors that will help keep our economy moving,” Aboitiz added as he underscored that the most important thing is ensuring that Aboitiz team members especially those in the frontlines are well taken care of.

Aboitiz assures continued business operations

ABOITIZ Group chief Sabin M. Aboitiz inspected various Aboitiz facilities to ensure continuous business operations, especially in critical sectors that help keep the country’s economy moving, and that strict health and safety protocols are in place. With him at the Republic Cement Batangas Plant site visit (pictured above) is Republic Cement President and CEO Nabil Francis.

more funds and expand the coverage of its COVID-19 efforts.

Aboitiz Group president and Chief Executive Officer Sabin M.

Aboitiz affirmed the company’s commitment to keep its businesses running smoothly to help the country’s economy weather the chal-

lenges posed by the health crisis.

“Aboitiz is committed to providing unhampered delivery of products and services across criti-

VARIOUS Aboitiz business facilities are continuously operating and implementing health and safety protocols in the midst of the Coronavirus-19 (Covid-19) pandemic.

A series of site inspections has been going on with Aboitiz himself leading.

In August 14, the Aboitiz Group chief visited Republic Cement and Building Materials, Inc.’s (Republic Cement) Batangas Plant, which boasts of its consistent high standard in environmental and safety practices. He also toured AboitizLand, Inc.’s Seafront Residences in San Juan, Batangas, its first residential project in Luzon.

Team members on site felt empowered with the strong leadership support at this challenging time.

A few weeks prior, the Aboitiz

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Aboitiz Group: Advancing business T

HE current global health crisis has ravaged almost every economy, not sparing the Philippines, which has been one of the hardest hit countries in Asia.

While businesses, from micro industries to blue chip companies, have undoubtedly felt its egregious impact, the will to help fellow Filipinos and push for collaboration to ride out this challenge remain.

The Aboitiz Group, an organization which for a hundred years has been giving back to the community, pledged its support to the government to keep the economy running, while providing the needs of those whose lives are greatly affected by the pandemic.

As of August, Aboitiz has contributed over P2.2 billion to help the government, frontliners, and communities deal with the COVID-19 crisis.

Keeping the economy running

AT the onset, the company extended financial support and benefits to its team members, including early release of bonuses and salaries, as well as coverage of medical expenses. With the vast majority of team members still working from home (WFH), the company ensures the health and safety of the workforce reporting on various Aboitiz sites and facilities to keep business operations running smoothly.

“Aboitiz is committed to providing unhampered delivery of products and services across critical sectors that will help keep our economy moving,” Aboitiz said, adding that the most important thing is ensuring that Aboitiz team members especially those in the frontlines, are well taken cared of.

The company ensured uninterrupted power supply and electrification of critical industries, communities, hospitals and other facilities, while extending payment terms for customers.

Through the Group’s banking and financial services subsidiary UnionBank, Aboitiz has provided innovative digital banking solutions, access to liquidity and service remained open to proactively serve its customers’ financial needs. UnionBank also extended loan payment deadlines (including credit card, housing, and automobile loans) and the waiving of online Instapay transfer fees for its clients.

At the onset, Its food group Pilmico mobilized food distribution to critical sectors such as hospitals and military checkpoints in various areas including Tarlac and Iligan City, providing livelihood to small bakery owners where they sourced the bread for distribution. From March to May, Pilmico and its partners have distributed about 500,000 pieces of bread in various parts of the country.

Lima Water Corporation, an Aboitiz Infra-

ONE MERALCO FOUNDATION CONTINUES TO ENERGIZE OFF-GRID SCHOOLS DESPITE COVID-19 CRISIS

HINO PARTNERS WITH DOTR TO PROVIDE FREE RIDES TO HEALTH WORKERS, FRONTLINERS Euro 4 AC Class II PUVs to be deployed in Metro Manila for free shuttle service

ENGINEERS install the solar panels of a 1-kilowatt photovoltaic system on the roof of an island school in Western Samar. Although face-to-face classes are suspended, teachers need access to electricity to prepare learning materials which will be delivered to students studying at home.

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ITH the ongoing crisis disrupting the education of over a million Filipino learners nationwide, One Meralco Foundation (OMF) beefs up its efforts to energize more off-grid schools, enabling technology-aided blended learning in far-flung communities.

Despite the logistical challenges brought about by travel restrictions implemented by both national and local governments, OMF's engineers were able install a 1-kilowatt solar PV system at the Takut Elementary School in the island municipality of Sto. Niño, Western Samar last week. To reach the school, they had to travel for more than a day to Calbayog City from Manila and take a two-hour boat ride to the island community.

Now that their school is energized using solar power, teachers can prepare materials needed by the students for the upcoming opening of classes this October like modules and worksheets.

The engineers observed health

protocols such as undergoing a mandatory 14-day quarantine, wearing of face masks at all times, and observing social distancing.

OMF will also conduct online training on solar PV maintenance and operations for teachers in the newly-energized schools.

The school electrification program is a core advocacy of the foundation. It has energized 245 far-flung public schools nationwide to date, and has received numerous international and local recognition for its impact on education in last mile communities in the Philippines.

One Meralco Foundation is the social development arm of the Manila Electric Company (Meralco).

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LOCALS help load the solar PV equipment on to a boat headed for the island schools to be energized. The support of community officials and the local government is vital to expediting the electrification of off-grid schools.

AFTER installation, engineers orient teachers and officers of the school’s parents-teachers association (PTA) on the proper use and maintenance of the photovoltaic equipment.

REE shuttle services for health workers and frontliners are now operational in Metro Manila through a partnership with Department of Transportation (DOTr) and Hino Motors Philippines.

Since the implementation of the enhanced community quarantine for Luzon, public transportation has been suspended in the entire Luzon island. To ease the commute of these modern-day heroes, free PUV rides have been made operational daily until from 8AM to 5PM. The commuters only have to present their IDs for proper identification.

The shuttle services prioritize health workers and frontliners, but citizens of the city who need to go to the hospital or other establishments for basic necessities may also ride the shuttle as long as they present their quarantine pass.

To comply with the enhanced community quarantine guidelines, preventive measures against COVID-19 are implemented inside the PUVs such as social distancing, basic

alcohol sanitization and free face masks for passengers. The PUV units also undergo disinfection before and after deployment.

Hino and DOTr recognize the important contribution of healthcare professionals in battling COVID-19. “We thank and sympathize with our health workers and frontliners. We stand-by our corporate mission of making the world a better place to live - by helping people and goods get where they need to go safely, economically and with environmental responsibility.

Through this simple effort, we hope that our frontliners would know that they are not alone in this fight – that we from Hino and the DOTr are with them,” shares Hino Chairman Vicente T. Mills Jr. In line with the company’s mission of mobilizing innovations to promote the best interest and well-being of its stakeholders, Hino Motors is continuously working with DOTr to provide safe and reliable transportation support to the most vulnerable.

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s and communities amid Covid-19 Capital unit, has supported locators at the Lima Technology Center in Batangas with payment deadline extensions and waiving of late payment charges.

AboitizLand’s ensured establishments in its commercial developments will continue to offer basic necessities, as restaurants offer deliveries and take-outs to serve community needs.

Its residential sales team remains ready to serve the country’s housing needs amid the need for a safe and secure sanctuary.

Keeping the communities thriving

WHEN the enhanced community quarantine (ECQ) was imposed, Aboitiz immediately mobilized relief operations and donations to various communities throughout the country.

These include the Group’s P100 million donation to “Project Ugnayan” which fed around 7.6 million people, food donations, and essential medical supplies for frontliners in hospitals, agencies, and local government units across the country.

The Group’s corporate social responsibility arm Aboitiz Foundation, Inc., facilitated nationwide donations together with Aboitiz business units and utilized its online crowdfunding platform ‘Kinder’ to raise more funds and expand the coverage of its COVID-19 efforts.

The foundation also provided food supply for COVID-19 patients and frontliners assigned in some quarantine facilities in Manila. It likewise donated P3 million to help set-up quarantine facilities in Cebu including the Bayanihan Cebu IEC Field Center.

Notably, Aboitiz Group’s power subsidiary

Aboitiz Power Corp. immediately worked with the Department of Energy (DOE) to make over half a billion worth of Energy Regulations No. (ER) 1-94 funds available to its host LGUs in Luzon, Visayas, and Mindanao for their own COVID-19 response efforts. ER 1-94 is a policy under the DOE Act of 1992 and Electric Power Industry Reform Act of 2001 (EPIRA) which stipulates that host communities will get a share of one centavo for every kilowatt-hour (P0.01/kWh) generated by power plants operating in their area.

To date, the Aboitiz Group and its business units have collectively donated hundreds of thousands of medical supplies including N95 and surgical masks, PPE kits, infrared thermometers, nitrile and latex gloves, laboratory and disposable goggles, gowns, hazmat suits, face shields, alcohol, hand sanitizers, as well as tents and medical equipment such as ventilators to various public and private hospitals all over the country. These were distributed in partnership with the Department of Health and various local government units.

The Aboitiz Group has also donated over 4,000 rapid test kits in Batangas and partnered with other private firms to build four BSL-2 modular laboratories to help boost confirmatory testing capacity in the country.

Aboitiz Foundation, Inc. fed hundreds of frontliners and patients at the Rizal Memorial Quarantine Facility in Manila with three daily meals to help ease their burden.

The Aboitiz Group also donated muchneeded medical equipment, protective gear, and other related items to government and military frontliners, as well as to government

hospitals, in recognition of their hard work and valuable presence amid the crisis. These include the Armed Forces of the Philippines, Philippine National Police, Bureau of Immigration, Philippine Ports Authority (PPA), Civil Aviation Authority of the Philippines, National Disaster Risk Reduction Management Council, the Bureaus of Customs and Quarantine, and the Departments of National Defense, Labor and Employment, Agriculture, Trade and Industry, Transportation, and Social Welfare and Development.

Visayas and Mindanao aid

RECOGNIZING the nationwide threat of COVID-19, Aboitiz through its various business units also stepped up its COVID-19 response efforts in Visayas and Mindanao with food distribution, assistance to government hospitals, and provided livelihood to struggling families affected by the pandemic.

The Aboitiz Group also provided meal assistance (breakfast, lunch, and dinner) for frontliners and patients in various hospitals and quarantine facilities including the Vicente Sotto Memorial Medical Center (VSMMC) and Cebu City Quarantine Center (CCQC), as well as nine other private hospitals in Cebu.

Visayan Electric Company facilitated various COVID-19 initiatives in Cebu including the turnover of medical supplies and equipment to VSMMC, CCQC, in partnership with PT Bayan Resources. It also dontated tents used as quarantine areas for asymptomatic patients to the New Normal Oasis for Adaptation and a Home (NOAH) Complex in Cebu City in partnership with the Philippine Disaster Resilience Foundation.

Aboitiz’s Cebu-based family foundation, the Ramon Aboitiz Foundation, Inc., aided stranded passengers at seaports due to the ECQ and provided livelihood to small and micro-entrepreneurs whose income was affected by the pandemic.

RAFI also partnered with the Cebu City government and Metropolitan Cebu Water District (MCWD) for the launching of a handwashing campaign called #HUNAWunaw to combat the spread of COVID-19. Through #Hunaw, RAFI aims to raise awareness on the importance of proper handwashing through the deployment of portable sinks at bus terminals, parking lots, jeepney stops, and other places where people frequent around the city.

In Mindanao, the Aboitiz Group through the Aboitiz Foundation, AboitizPower subsidiaries (namely Davao Light and Power Co., Inc., Hedcor Group, Therma South, Inc. and Cotabato Light and Power Co.), Pilmico and Apo Agua Infrastructura facilitated numerous relief operations and donations of medical supplies and food packs to hospitals, checkpoints, and LGUs in Davao City, Cotabato City, Iligan City, Sultan Kudarat, Cotabato and Datu Odin Sinulat, Cotabato.

As of August, AboitizPower generation units Hedcor and TSI have remitted around P26 million to Davao City through the Energy Regulations 1-94 (ER 1-94) program. Such funds may be fully utilized for the COVID-19 response of the LGUs.

The Aboitiz Group is committed to providing long-term efforts to help the government address the concerns of the country’s brave frontliners and the needs of affected communities as we all navigate toward healing the nation.

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C O R P O R AT E S O C I A L R E S P O N S I B I L I T Y

C4 Wednesday, September 9, 2020

Turning patriotic...

Continued from C1

areas for development. “It was good to be able to highlight our successes and initiatives towards meeting our construction goals despite the challenges brought about by the pandemic,” AboitizLand assistant vice president for Customer Management Monica Trajano said.

Sustainability going strong within the private sector

ABOITIZ Group President and CEO Sabin M. Aboitiz (2nd from right) and Aboitiz Power Corp. President and CEO Manny Rubio (extreme right) inspect current operations at AP Renewables, Inc. Makiling-Banahaw (MakBan) Geothermal Power Plant and check on team members’ working conditions at the site last July 15, 2020.

chief and a team of AboitizPower senior officials, inspected the geothermal power plant facilities of AboitizPower Renewables, Inc. (APRI) in Makiling-Banahaw (MakBan) in Laguna and Tiwi, Albay. Aboitiz also went around the Pagbilao Thermal Power Plant in Quezon province to inspect the 420-megawatt Pagbilao 3 unit operated by Pagbilao Energy Corporation, a joint venture between AboitizPower and TeaM Energy.

In all these visits, Aboitiz noted that these facilities are conscientiously following strict pre-entry safety requirements, health screening, and other safety protocols.

Aboitiz noted that while the health crisis has undoubtedly created challenges, it is also paving

the way for opportunities such as harnessing the full potential of innovation and applying it in the company’s business operations.

“We were able to showcase the performance of the Batangas plant, the safety of the plant as well as our preparations on the new normal and how we implement it,” shared Republic Cement Batangas Plant manager Erwin Cruz.

The Republic Cement Batangas Plant, located in Taysan, Batangas, has been in operation since 1967. It produces Type 1, Type 1P, and Type 1 OPC (Ordinary Portland Cement) Bulk Cement.

Meantime at the Seafront Residences which was launched in 2017, Aboitiz inspected completed houses and amenities, and future

ACCORDING to GreenBiz Group, a media and events company that views global environmental challenges as existential threats and significant opportunities to business and society, there are five reasons for this: Corporate sustainability is a long-term evolution. Today's companies are making commitments into 2025, 2030 and beyond. That means they have set the wheels in motion for long-term structural change.

Companies understand that sustainability engenders resilience by making supply chains more transparent, operations more efficient and, increasingly, improving the ability of operations to withstand or recover from calamities of all types.

Investors see sustainability as material. Institutional shareholders see sustainability performance as a proxy for a well-managed company that is taking a risked-based approach to strategy and investing.

There’s a growing call for a business-led "green recovery" to revive economies around the world and help them prepare for the next likely pandemic: climate change.

Companies understand that the world is watching. They want

to be able to attract and retain customers and talent — to be seen as part of the solution or at least not part of the problem.

Indeed, the lockdown could be the craziest thing for many Filipinos—and definitely for the rest of the human race—for disrupting our normal activities. But there's al-

ways a silver lining behind this crisis: we all learn together to make do with what we have, live simply and love and look for the well-being of every member of the family.

Still for many it was also the best time to assess ourselves and find out the things that really matter to us. It was also the time for

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learning new things, finding avenues of our talents ang grabbing opportunies that come our way.

Thanks to companies like Aboitiz and their heightened corporate social responsibility programs and to many enterprising individuals among us to make our lives a lot better in this time of crisis.

MERALCO POWERS NCR’S BIGGEST COVID-19 QUARANTINE CENTER. Meralco crews work round-the-clock to ensure safe, adequate,

and reliable supply of electricity to the Solaire-PAGCOR Mega Quarantine Facility. The 525-bed center located in Paranaque City, is the biggest quarantine facility in Metro Manila and is one of the additional COVID-19 facilities to serve Metro Manila, Bulacan, and the Calabarzon Region. The said energization project includes the installation of new metering facilities, four (4) new concrete poles, three (3) spans of covered conductor, and three (3) 333KVA single-phase distribution transformers. Powering quarantine and treatment facilities is one of Meralco’s priority projects this year, as the company continues its relentless support to the government and to the private sector in the fight against COVID-19.