BusinessMirror September 24, 2020

Malampaya operator selling 45% stake S

HELL Philippines Exploration B.V. (SPEx), operator of the Malampaya deepwater gas-to-power project, said Wednesday it is selling its 45-percent stake in the offshore Palawan project that fuels five power plants with a combined capacity of 3,211 megawatts (MW).

“As part of an ongoing portfolio rationalization to simplify and increase the resilience of its business, Shell is exploring its options with a view to divest its interest in SC38 [Malampaya]. Shell would ensure a smooth transition of the asset to a credible buyer who would be well placed to optimize the value from Malampaya,” said SPEx.

It did not say if there are interested buyers that have approached the upstream operating company of Shell Philippines.

SPEx said the Philippines remains an important country for Shell. It vowed “to continue to pursue opportunities where it can leverage its global expertise

AROUND 230 repatriated overseas Filipino workers are assisted by Philippine Coast Guard personnel as they arrive from Dubai early Wednesday at the Ninoy Aquino International Airport. Another 530 were set to come home from Abu Dhabi and Bangkok later in the day. President Duterte said in his speech at the United Nations General Assembly that the “government will continue to bring home Filipinos working abroad who had been affected by the coronavirus pandemic.” He thanked the countries that “provided Filipino migrants with residence permits, access to testing, treatment, and related health services in this pandemic.” NONIE REYES

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in line with its strategy.”

The Malampaya gas field is being maintained and operated by a consortium led by SPEx. Other members include Udenna Corp. (UC), 45 percent, and state-led Philippine National Oil Co. Exploration Corp.

(PNOC-EC), 10 percent.

UC, which is led by Davao businessman Dennis Uy, earlier bought the Malampaya stake from Chevron Malampaya Llc.

The consortium members were awarded Service Contract (SC) 38, allowing them to explore and develop an area in Northwest Palawan, Philippines.

UC said earlier that a plan has been crafted for the future development of the Malampaya field and its surrounding fields to ensure the future of Philippine energy security. The gas field could be depleted by 2024.

“The acquisition of Chevron’s interest in the Malampaya gas field marks an important milestone for Udenna, fitting strategically with our long-term ambitions of developing a sustainable clean energy business in the Philippines,” UC had said at the time it

bought out Chevron.

The entry of UC in the Malampaya consortium prompted Uy’s Phoenix Petroleum Corp. and China National Offshore Oil Corp. Gas and Power Group Co. Ltd. to ask the Department of Energy (DOE) to suspend the permit to proceed with their joint LNG (liquefied natural gas) project.

“They are withdrawing their application and they want to reassess and submit a new concept. They want to revisit their LNG terminal project in lieu of the Malampaya development. They are going to tie it together,” DOE Secretary Alfonso Cusi said earlier.

Last August, Shell Philippines announced that it would cease its refinery operations and instead import finished petroleum products because it is no longer viable for the oil company to run its Tabangao, Batangas, oil refinery.

The second-largest oil company in the country blamed the Covid-19 pandemic for depressed refining margins, as fuel demand has plunged since the community quarantine was imposed by the government.

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8-MO BUDGET DEFICIT HITS P740.7B ON COVID www.businessmirror.com.ph

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TARIFF RECOVERIES FROM BOC AUDIT EYED FOR FARMERS’ BENEFIT

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PRESIDENT Duterte’s prerecorded message is played during the 75th session of the United Nations General Assembly late Tuesday, September 22, 2020, at the UN Headquarters. The UN’s first virtual meeting of world leaders started Tuesday with prerecorded speeches from some of the planet’s biggest powers, kept at home by the coronavirus pandemic that became a dominant theme at their video gathering this year. Story on A2. MANUEL ELIAS/UN VIA AP

T

By Bernadette D. Nicolas

HE national government’s budget deficit ballooned to P740.7 billion from January to August this year, equivalent to more than six times the budget gap in the same period last year.

Latest data from the Bureau of the Treasury showed the year-to-date budget deficit soaring by 515 percent from last year’s P120.4 billion. The end-August figure also exceeded the full-year fiscal deficit in 2019 at P660.2 billion.

This, as the government incurred a much wider budget deficit for the month of August amounting to P40.1 billion, 16 times the P2.5-billion fiscal gap re-

corded a year ago.

A budget deficit occurs when government expenditures exceed the level of its revenues.

For January to August this year, the government spent 20.79 percent more than it did last year. State expenditures jumped to P2.672 trillion for the eight-month period this year from P2.21 trillion in 2019.

ICE industry groups on Wednesday hailed the Bureau of Customs’ decision to charge erring importers who undervalued their imports, calling it a victory for Filipino farmers since the amount to be collected from them could mean additional funds to support local production.

They urged the BOC to allocate the tariff recoveries from the audits on over 40 erring rice importers to the government’s rice competitiveness enhancement fund (RCEF).

They also pressed the government to chase the “real” importers, as some of the audited rice importers could be just cooperatives that serve as dummies or fronts of unscrupulous traders.

The Federation of Free Farmers (FFF) and Rice Watch and Action Network (R1) had noted that cooperatives used by unscrupulous traders, which include some farmers-led groups, could be caught in a crossfire as the BOC digs deeper on the issue of rice import undervaluation.

And the BOC could be running the risk of collecting lesser or no charges if the dummy cooperatives are indeed found liable for the rice imports undervaluation since it was their names that were used for the shipments.

“We call on the BOC to go hard on these importers and to also prevent this from happening again in the future,” R1 Executive Director Hazel A. Tanchuling told the BusinessMirror.

Tanchuling said BOC’s latest action is crucial in alleviating the problems of the rice producers and improving their productivity.

“Collecting the right tariffs is important because the amount collected should go back to the farmers in support,” she said.

“So, losses in tariff revenues also reduce potential support to farmers heavily impacted by liberalization,” she added.

FFF National Manager Raul Q. Montemayor told the BusinessMirror that the BOC’s possible tariff recoveries should be part of the RCEF.

“We think that the tariff recoveries should form part of the rice fund. As for the penalties, which could be higher than the tariff recoveries, it is not clear if it will go to RCEF since the RTL [rice trade liberalization law] talks only of tariffs,” he said.

“We will need to evaluate where the additional money will be spent best, but either way, it would be of great help,” he added.

Continued on A2

See “Budget,” A2

P

REMIUMS earned by the insurance industry for the first quarter of 2020 grew by 10.53 percent to P78.15 billion compared to the same period in 2019, data that regulators said do not fully reflect yet the impact of the Covid-19 pandemic. This, even as they aired hopes the sector’s hit during the quarantines would be blunted by the government’s response.

Citing insurers’ unaudited quarterly reports, Insurance Commissioner Dennis Funa said the figure was up from P70.71 billion as of end-March last year.

In terms of net worth, the entire insur-

ance industry suffered a 7.03-percent drop to P345.27 billion in the first quarter this year from P371.39 billion in 2019.

Nevertheless, insurance density —the amount of premium per capita or average spending of each individual on insurance— climbed by 9.89 percent.

Still, Funa said, the figures “do not yet fully reflect the effects of the pandemic” given that the national government implemented the enhanced community quarantine in Luzon on March 16.

“The Insurance Commission is hopeful that the economic and financial impact of the

PESO EXCHANGE RATES n US 48.4490

pandemic in the succeeding reporting quarter will, to a certain degree, be mitigated by the measures in the various Covid-19-related Circular Letters that we have issued,” Funa added.

The schedule for the submission of the insurance industry’s unaudited Quarterly Reports on Selected Financial Statistics was extended until June 30 and extended again until July 31 due to the effects of the Covid-19 pandemic.

Of the total premium income generated by the industry for the first three months of the year, P60.9 billion came from the life insurance sector. This was up from its total premium in-

come of P54.4 billion a year ago.

“Despite the decrease in first-year variable life insurance premiums of 6.04 percent, single and renewal premiums posted a significant increase of 25.80 percent and 18.49 percent, respectively. Traditional life insurance products also posted an overall increase of 4.28 percent,” Funa said in a statement.

However, the life insurance sector saw a “remarkable” 19.83-percent decrease in its total net worth to P201.6 billion as of end-March this year from last year’s P251.5 billion.

See “Insurance,” A2

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IC hopes Covid response blunts impact

THE BROADER LOOK » A4-A5

CUT CONSUMPTION COULD CANCEL CHRISTMAS

n JAPAN 0.4618 n UK 61.7434 n HK 6.2516 n CHINA 7.1440 n SINGAPORE 35.4990 n AUSTRALIA 34.7234 n EU 56.7241 n SAUDI ARABIA 12.9187

Source: BSP (September 23, 2020)

News BusinessMirror

A2 Thursday, September 24, 2020

Insurance…

Continued from A1 The IC said this can be attributed to the 80.89-percent drop in fluctuation reserves to P14 billion from P73 billion a year ago, as well as to the decline in market value of investments for the first quarter of this year.

On the other hand, non-life insurance industry’s aggregate net worth surged by 21.24 percent to P100.37 billion as of endMarch this year from P82.78 billion in the same period in 2019. The sector’s total assets also rose by 15.68 percent for the three-month period this year to P269.5 billion from P232.94 billion last year.

Moreover, its net premiums written also climbed by 7.01 percent with a total of P14.40 billion in the first quarter compared to P13.46 billion in the same period last year.

“The increase in NPW of the nonlife sector is attributable to increases in Fire and Accident Insurance at 59.69 percent and 18.60 percent, respectively.

Similar with the past reporting periods, Motor Car business still comprised the major share of the NPW with 44.44 percent followed by Fire business with 19.88 percent, and Accident with 9.05 percent share. These three lines of business accounted for 73.37 percent of the total NPW for Q1 2020,” Funa said.

Meanwhile, the Mutual Benefit Associations’ (MBAs) net surplus for the first quarter of the year contracted by 28.2 percent to P1.15 billion from the previous year’s P1.6 billion. Funa said this may be traced to the decrease in collections and other income coupled with the increases in operating expense and benefit expense by 23.87 percent and 4.43 percent, respectively.

Nonetheless, MBAs’ total assets as of end-March surged by 15.41 percent to P105.5 billion from P91.4 billion in the same period last year. Its total fund balance also jumped by 16.66 percent to P43.3 billion for the first quarter this year from P37.1 billion in 2019.

Bernadette D. Nicolas

www.businessmirror.com.ph

Duterte’s SCS ruling pitch highlights speech at UNGA

P

By Samuel P. Medenilla

RESIDENT Duterte’s much-awaited debut before the 75th United Nations General Assembly (UNGA) late Tuesday night (early morning Manila time) was marked with a strong affirmation of the Philippines’s rights in the South China Sea, anchored on a UN convention and a 2016 arbitral ruling.

In the unprecedented virtual assembly, he also tackled other global threats including the Covid-19 pandemic, terrorism, as well as “flash points” which could lead to a world war.

In his 19-minute speech before the UNGA, Duterte raised the 2016 arbitral award on the South China Sea, saying the Philippines firmly rejects attempts to undermine it. Now being “part of international law,” it is “beyond compromise and beyond the reach of passing governments to dilute, diminish or abandon,” Duterte said.

Before an international audience, Duterte finally said he “affirms that commitment in the South China Sea in accordance with UNCLOS (UN Convention on the Law of the Sea) and the 2016

Arbitral Award.

On Wednesday, his raising the SCS arbitral ruling drew praise from many quarters, including those who have repeatedly attacked his seeming softness on China.

Special occasion

PRESIDENTIAL spokesperson Harry Roque explained on Wednesday that Duterte picked the occasion to stress the country’s position on the matter due to its importance.

“The forum where he addressed, where he delivered his line is a multilateral forum, the United Nations, and it does not involve bilateral ties specifically with China,” Roque said in an interview with CNN. He said this would finally address criticism that Duterte is play-

ing down the relevance of the arbitral award in exchange for better diplomatic relations with China.

Roque reiterated that the Philippines will still maintain its bilateral ties with China even if both countries still have “territorial issues” in the South China Sea. “We will proceed on all other aspects of our relationship and we would probably accept the fact that there will be no resolution in the near future as far as the territorial dispute is concerned, but let’s proceed on matters that we could move forward with such as investment and trade,” Roque said.

Public good

DUTERTE also stressed the importance of international cooperation during the pandemic, which has now infected over 31 million people.

Containing the spread of the pandemic, he said, will depend on “ensuring universal access to anti Covid-19 technologies including the vaccine for it.... When the world finds that vaccine, access to it must not be denied nor withheld. It should be made available to all, rich and poor nations alike, as a matter of policy,” Duterte said.

“The Philippines joins our partners in the Asean and the NonAligned Movement in raising our collective voice: the Covid-19 vaccine must be considered a global

Budget…

Continued from A1

Cumulative primary spending reached P2.402 trillion, 22.48 percent higher than P1.96 trillion in the same period last year.

Meanwhile, interest payments for January to August 2020 rose by 7.57 percent to P269.6 billion from last year’s P250.6 billion.

On the other hand, revenues for the eightmonth period this year were down by 7.67 percent to P1.93 trillion from P2.09 trillion in the previous year.

Revenues came mostly from main collection agencies, with the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) collecting P1.303 trillion and P347.3 billion, respectively.

However, BIR saw its revenues dropping by 10.26 percent year-on-year from P1.452 trillion last year.

Still, the Treasury said the year-to-date collections of BIR already comprised 77 percent of the revised 2020 target of P1.685 trillion, although this is only 58 percent of the original program. BIR needs a monthly average collection of P96 billion for the rest of the year to reach its revised full-year program.

For its part, the BOC also suffered a 15.55-percent year-on-year drop in its revenue take as of end-August from P411.2 billion in 2019.

public good. Let us be clear on this,” he added.

Migrant protection

AMID the crisis, he appealed to members of the UN to ensure safety of all migrant workers, including overseas Filipino workers (OFWs), by adhering to the Global Compact for Safe, Orderly and Regular Migration.”

He thanked the countries who helped in the repatriation of “about half” so far of the 345,000 OFWs who needed to return home during the pandemic, as lockdowns around the world gouged economies and businesses, displacing millions of workers.

In response to such assistance for OFWs, the country, he said, pioneered the International Maritime Organization (IMO) Green Lane, which allowed safe crew changes in the country, which benefited not only Filipino seafarers, but also other nationalities.

International peace

DUTERTE also sought to defuse brewing global conflicts in flash points, which, he said, could escalate into a full-scale war.

To serve as deterrent to the eruption of such conflict, he called on UN members to fully implement the Nuclear Non-Proliferation Treaty, and the Chemical and the Biological Weapons Conventions.

The Treasury said this is equivalent to 51 percent of the original program.

For the year, it added. BOC has still to collect P158.9 billion, or P40.0 billion on average per month, to achieve its revised P506.2-billion program.

Year-to-date, the Treasury managed to collect P192.9 billion, a 78.8-percent increase year-on-year from P107.9 billion in 2019. It has already exceeded its P82.3-billion original fullyear target and has already collected 90 percent of its revised program of P213.3 billion.

For the month of August, government expenditures inched up by an annualized rate of 0.38 percent, but revenues contracted by 13.05 percent year-on-year.

The amount of state expenditures for the month was almost flat at P283.3 billion compared to P282.2 billion in the same month of 2019.

In terms of revenues, the government collected P243.2 billion for the month, lower than the P279.7 billion in August 2019.

As tax collections are down amid the pandemic, the Development Budget Coordination Committee (DBCC) projects the country’s 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 economy to contract by 5.5 percent this year, potentially marking the country’s worst economic downturn in 35 years.

Tariff recoveries from BOC audit eyed for farmers’ benefit Continued from A1

Rice tariff lib

THE RTL law mandates that rice tariffs collected by the government since its enactment in March 2019 until 2024 should be earmarked for the government’s RCEF.

Latest estimates of the FFF showed that unscrupulous rice importers may have shortchanged the BOC of nearly P2.8 billion since the implementation of the RTL law.

In a separate statement on Wednesday, the FFF also reiterated its call on the government to be more stringent in approving farmer cooperatives and groups as eligible rice importers, as the practice of using dummy schemes by unscrupulous traders continues today. (Read this Broader Look piece: https:// businessmirror.com.ph/2019/10/31/pre-and-postrice-trade-liberalization-law-big-traders-gamingfarmer-groups/)

“Even if a co-op importer is found guilty of undervaluation, BOC might not be able to collect anything because many of these co-ops actually have very little funds or assets, and might be dormant already. Meanwhile, the actual importer who financed the shipments will go scot-free,” the FFF said.

Customs Assistant Commissioner and spokesperson Vincent Philip Maronilla told the BusinessMirror that “a percentage” of the P1.4billion combined charges to be collected from the erring audited rice importers will go to the RCEF.

“Yes. A percentage of the collection will be allocated for RCEF,” Maronilla said in a message.

Pressed on the specific percentage of the total charges that could be allotted for RCEF, the BOC official said: “It will be determined by our collection service following the provision of the law.”

He said their legal department has yet to resolve whether penalties and surcharges which form part of the P1.4-billion charges could also be allocated to RCEF.

Of the P1.4-billion charges, Maronilla said the duty component amounted to at least P600 million, while the remaining P800 million were penalties and surcharges.

However, Maronilla said “not all” duties to be collected from the undervalued rice imports would go to the RCEF.

“Insofar as to the portion of additional duties and taxes, yes [that could be used for RCEF],” he said. “But insofar as to the penalties that are yet to be determined, whether that could be considered” for credit to RCEF has yet to be decided, he added.

The BusinessMirror earlier reported that over 40 rice importers were told by Customs to pay a combined total of P1.4 billion in “additional audited assessment” after the BOC found them liable for undervaluing their rice shipments from March to June last year. (Read story here: https:// businessmirror.com.ph/2020/09/23/rice-importerscharged-p1-4-billion-on-undervaluation/)

The FFF urged the BOC to fast-track the resolution of the audit cases and “finally end the practice of undervaluation” so that farmers would receive the correct amount of benefits that they should get from rice tariff collections.

Jasper Emmanuel Y. Arcalas & Bernadette D. Nicolas

DOH, DOLE move on health workers’ pay Continued from A8

Status quo

ALSO at the meeting, FNU urged DOH to call on DBM not to pursue its plan to modify the existing position attributes, which they claimed downgraded those with Nurse 2 up to Nurse 7 positions through DBM Circular 2020-4.

FNU President Maristela Abenojar opposed the reclassification, saying it trivializes the times served by many senior nurses in the government.

Tong-an promised to ask the DBM to reconsider its plan to reclassify nurse positions.

Equal pay and benefits

THERE are also ongoing moves to improve the benefits of healthcare workers in the private sector, which lag behind those in the government.

In an online press briefing on Wednesday, the Department of Labor and Employment (DOLE) said it will propose a bill to level the wages and benefits of private and private sector healthcare workers.

Labor and Employment Secretary Silvestre H. Bello III said this will be contained in a bill they will endorse to the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) on Thursday.

“Hopefully, the IATF will have it [proposed bill] certified by the President,” Bello said.

Under the proposal, private sector medical employees will be get the same pay and benefits, including hazard pay, as those working in the public sector.

Healthcare worker retention

THE measure aims to reduce the number of healthcare workers eyeing overseas work due to low pay, according to Bello.

“Whatever the amount is should be in the same level with that of nurses and medical workers in the public sector since they are facing the same hazard in exercising their profession,” Bello said.

He is confident private companies can afford the additional pay once it is legislated.

“These hospitals continue to earn and it is time for them to share their blessings to their workers,” Bello said.

Cheers greet Boracay’s opening to more tourists Continued from A8

He predicted the same confusion in Boracay. “I think I’d like to see tourist numbers go up to a comfortable amount first before reopening [our restaurants].”

The decision to open Boracay to tourists outside Western Visayas was agreed on

by BIATF principals Environment Secretary Roy A. Cimatu, Interior Secretary Eduardo M. Año, and DOT’s Romulo Puyat with Aklan Gov. Florencio Miraflores on Tuesday.

“The reopening of Boracay to new market sources signals a gathering momentum for domestic tourism all over the country. We are pleased that the BIATF and the LGUs of Aklan and Malay have agreed to put health and safety as the priority as we carefully and safely welcome more guests to the island,” said Romulo Puyat in a news statement.

She stressed the need for would-be visitors to Boracay to take an RT-PCR test 48 hours to 72 hours before traveling. Only those negative for the novel coronavirus will be allowed to travel. “Also, travelers will be advised to go on a strict quarantine immediately after a test and until the time of travel to the island,” she added.

Tourists of all ages will be allowed in Boracay, said the DOT chief, noting that “Filipinos travel as a family.”

Only the Caticlan airport in Malay will be the main airport of entry and exit for tourists going to the island, as per agreement between the BIATF principals and Miraflores.

Since the island reopened to tourists from Western Visayas on June 16, the DOT had already issued Certificates of Authority to Operate to 199 hotels and resorts, representing 4,416 rooms.

Aside from Boracay, other island destinations that are open to tourists are El Nido and Miniloc in Palawan, Pamalican Island (Amanpulo), and Polillo Island (Balesin).

News BusinessMirror

www.businessmirror.com.ph

P10-B ‘surprise’: Senators, DOF chief shocked over unspent SAP fund

By Butch Fernandez

NBI legal exec, brother face criminal raps for alleged culpability in ‘pastillas’ scheme

By Joel R. San Juan

@butchfBM

S

ENATORS were shocked to learn Wednesday about a still unused P10-billion fund Congress allocated in the 2020 national budget intended for the Duterte administration’s Social Amelioration Program (SAP).

Dur ing a Senate hear ing on Wednesday, even Finance Secretar y Carlos Doming uez III told senators that he too was “sur pr ised ” to hear about the id le f und from officia ls of the Depar tment of Socia l Welfare and Development (DSW D).

Dominguez assured senators he will promptly take up the matter with the administration’s economic managers at the next meeting of the Development Budget Coordinating Committee (DBCC).

The Duterte administration’s finance chief gave the assurance after Senate Minority Leader Franklin M. Drilon brought up the matter seeking clarification on the existence of the P10billion idle fund that the opposition senator suggested should have been used to benefit the people.

Drilon deplored that the uncovered P10-billion idle fund is contrary to government policy to release funds to revitalize the economy.

In response, Dominguez explained that the untouched P10 billion was just a part of the multibillion-funding allocated for government’s assistance to sectors affected by the pandemic.

@jrsanjuan1573

T

HE National Bureau of Investigation (NBI) on Tuesday filed graft and other criminal charges against its own legal assistance chief, lawyer Joshua Paul Capiral, and his brother, for allegedly extorting money from respondents of corruption activities in the Bureau of Immigration (BI) that has widely become known as the “pastillas” scheme in exchange for exoneration.

Capiral and his brother Christopher John Chua, who employee of

BI, were charged with robbery (extortion) as defined and penalized under Article 294 of the Revised Penal Code; Violation of Republic Act 3019, or the Anti-Graft and Corrupt Practices Act; Violation of Executive Order 608, Series of 2007 Establishing a National Security Clearance System for Government Personnel with Access to Classified Matters and For Other Purposes; and Violation of Republic Act 6713, otherwise known as Code of Conduct and Ethical Standards for Public Officials and Employees.

BI personnel Jeffrey Dale Salam-

eda Ignacio, who is being linked in the pastillas scheme and the NBISpecial Action Unit (SAU), represented by Special Investigator Joel Otic are named as complainants against the brothers.

Salameda was among the 19 BI personnel who were charged by the NBI before the Ombudsman for their involvement in the illegal practice.

The pastillas scheme allows the unhampered entry of Chinese nationals who were about to be employed by Philippine Offshore Gaming Operations (POGO), for a fee.

Each arriving Chinese national

Defensor to Hontiveros: Look who’s talking over pricey PPEs

By Jovee Marie N. Dela Cruz @joveemarie

T

HE chairman of the House Committee on Public Accounts on Wednesday threw his support behind a Department of Budget and Management’s (DBM) decision to acquire more expensive but relatively reliable personal protective equipment (PPE) as the country grapples with the Covid-19 pandemic.

Anakalusugan Rep. Mike Defensor, in a news statement, turned the tables on Sen. Risa Hontiveros, saying that her accusations of “overpricing” against the DBM for the purchase of PPE are baseless and a mere “smokescreen” to hide overpricing during the previous administration.

“As the contagion spread and our frontliners were falling ill, or dying, due to lack of protection, government had to think and act fast,” he said.

During the Aquino administration, Defensor said the Department of Health purchased PPEs from Rebmann Inc. at a much higher price of P3,500 per set in September 2015.

“This was followed by another

purchase in 2016 of the same 8-piece PPE set at a much higher price of P3,864 per set. These prices are higher by at least 97 percent and 118 percent, respectively, compared to the purchase price of similar PPE sets bought by DBM in the middle of a pandemic at an average price of P1,773.51 per set,” he pointed out.

“Senator Hontiveros questions the alleged P200 overprice without proof but she’s tight-lipped when her colleagues in the former administration bought PPEs at twice today’s prices,” Defensor added.

He also debunked the senator’s claim that government lost P1 billion in taxpayers’ money in purchasing PPEs from Chinese companies.

“Claims of overpricing are untrue. At the time of DBM’s questioned purchases between March and May this year, the Philippines and the whole world were in panic mode. Each country was scrambling for PPEs and face masks and were fighting over limited supply. Even first world countries like the United States and Great Britain didn’t have enough protective gear for their frontliners,” Defensor added.

Hontiveros earlier said the Chinamade PPEs were at least P200 more expensive than the average estimated cost of PPE by the Philippine General Hospital, which pegged the price at P1,200 to P1,500.

“It’s no secret that between March and May 2020 there was extremely high demand for PPEs. As the epicenter of Covid-19 at that time, China itself was prioritizing its needs over other countries. Following the law of supply and demand, it was expected that prices of protective gear would go through the roof. Since it was a seller’s market, government had no choice but to bite the bullet,” Defensor said.

“If DBM did not purchase PPEs at the questioned prices in March, they would not be accused now of overpricing but of criminal negligence for allowing frontliners to be infected, or die, due to lack of protective equipment,” he added.

On allegations that DBM favored imported PPEs over local, Defensor said that at the time of the questioned procurement, only one local supplier made an offer and didn’t even qualify.

Roll out the barrel! Mayor Sara lifts Davao liquor ban

By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

D

AVAO CITY—Mayor Sara Duterte-Carpio lifted the liquor ban here on Tuesday but establishments to observe the limit in serving beer, wine and liquor to customers in their premises.

The ban was imposed here since April to prevent the exposure and possible contamination

Editor: Vittorio V. Vitug • Thursday, September 24, 2020 A3

of individuals to Covid-19.

The mayor, however, reminded Dabawenyos of the City Ordinance prohibiting the selling, serving, and drinking alcoholic and other intoxicating drinks from 1 a.m. to 8 a.m., which is an existing prohibition under City Ordinance 004-13, Series of 2013 or the Liquor Ban Ordinance of Davao City.

Mayor Sara said Dabawenyos should be reminded of Section 4 of the Department of Trade and Indus-

try (DTI) Memorandum Circular 2044, which states that “beerhouses and similar establishments whose primary business is serving of alcoholic drink, such as nightclubs, bars, beer gardens, etc. shall not be allowed to operate under any form of community quarantine.”

The serving of alcoholic beverages would be permitted in restaurants and fast-food businesses but would only be allowed a maximum of two individual servings, as also stated

under Section 3 of the DTI Memorandum Circular 20-39, Series of 2020.

She said the rule shall also apply to “videoke” bars and karinderyas, or food business serving alcoholic drinks.

They must not exceed the allowable serving in restaurants and fastfood because of the regulation in the quantity of serving.

Mayor Sara warned of the city’s “one strike rule” on establishments caught violating the rule on serving alcoholic drinks.

reportedly paid an additional P10, 000 service fee, P2,000 of which is divided among officials from the BI’s Travel Control and Enforcement Unit (TCEU), duty immigration supervisor and terminal heads.

The money-making scheme earned the tag pastillas because grease money was handed over to immigration personnel neatly rolled in white paper similar to the popular sweet Filipino delicacy.

T he Capira l brothers have waived their right for a preliminary investigation during inquest proceedings, a development which

may pave the way for the Department of Justice to come up with a resolution immediately.

The two were arrested by the NBI agents on Monday during an entrapment operation.

It was repor ted that they were caught red handed receiving marked money from Ignacio, from one of the persons implicated in the pastillas scheme.

The two have reportedly been extorting money from BI personnel linked in the pastillas scheme in exchange for “fixing” the cases against them.

SUCs reserved for Filipino scholars, not foreigners, Marcos tells education execs

S

EN. Imee Marcos is reminding education authorities that Statefunded universities and colleges (SUCs) are reserved for Filipino scholars and not for foreign students whose tuitions are paid for by taxpayers.

Marcos maintained that SUC scholarships are exclusive to qualified Filipinos, stressing such benefit should not include foreigners.

In a news statement issued on Tuesday, Marcos moved to “end the commercialization of state colleges and universities that has allowed foreign students to enjoy the same benefits reserved for Filipino state scholars.”

The senator lamented that enrollment quotas for foreign students in SUCs tend to prevent more Filipinos from availing of government-funded college education, particularly in expensive medical courses.

“Let us take care of Filipinos first. Our taxes must support our future Filipino doctors, especially amid this enduring pandemic,” Marcos said.

She reminded that “our effort to ratchet up our supply of doctors may be lost entirely and merely expended on foreigners,” recalling that senators were already “on the verge of enacting legislation on expanding medical scholarship, known as the Doktor Para Sa Bayan bill.”

At the Senate finance committee hearing on Monday, Marcos asked the Commission on Higher Education (CHED) to submit a list of foreign students in SUCs in the past five years,

noting that the CHED has asked for an additional P4.6 billion to expand the government’s capacity to sponsor Filipino medical students to 5,368 each year.

CHED chief Prospero de Vera, however, told the committee their hands are tied in limiting the number of foreign students in SUCs, explaining that the decision to accept them is the prerogative of the Board of Regents of each college, or university.

This as the data furnished the Senate panel showed that the Bureau of Immigration recorded 26,000 foreign students in the country but did not determine how many were studying medicine in eight SUCs, including Mariano Marcos State University, University of Northern Philippines, Cagayan State University, Bicol University, West Visayas State University, University of the PhilippinesSchool of Health Sciences, University of the Philippines -Manila and Mindanao State University-Marawi.

The committee was also informed that three more SUCs have ongoing application to offer medical courses—Cebu Normal University, Western Mindanao State University in Zamboanga City, and the University of Southeastern Philippines in Davao City, prompting Marcos to ask the CHED, SUCs, and the Bureau of Immigration to conduct an immediate review of policies regarding foreign students to ensure that Filipino students are given priority. Butch Fernandez

Lawmakers want Cayetano to stay despite ‘term-sharing’ agreement

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AWMAKERS from diverse political parties in the House of Representatives on Wednesday expressed their support for the continuation of the leadership of Speaker Alan Peter Cayetano until the end of the 18th Congress.

Seemingly gaining renewed confidence from the expression of support from his fellow lawmakers, Cayetano vowed he would not be “blackmailed” into allowing corruption, or the distribution of pork barrel funds, in the 2021 national budget.

“I will not let anyone push me around,” said Cayetano, reacting to issues being raised by some House members accusing him of favoring some districts in the 2021 national budget allocations.

He said the supposed issues being raised are part of moves to unseat him as House Speaker, adding he will not hold on to the House speakership post

if the majority wants him out.

The affirmation of support for Cayetano’s leadership came after Marinduque Rep. Lord Allan Velasco late Tuesday broke his silence, saying “my silence does not mean I am disinterested, nor I have turned my back on the covenant,” apparently referring to a so-called termsharing agreement between him and Cayetano for the House leadership.

ButSagipRep.RodanteMarcoletasaid the “gentleman’s agreement” between Cayetano and Velasco did not foresee the onslaught of the Covid-19 pandemic that is still ravaging the country.

“I am happy that my friend, Congressman Lord Allan Velasco, finally broke his silence. In all sincerity, I thought that his eventual declaration that he has not turned [his] back on the covenant came very late in the day,” he said.

“Leadership is not about competing, or waiting our turn at the right time. The last six months dictated the most criti-

cal path of our national life. In Congress, we needed everyone to rally behind the Speaker in enacting the crucial pieces of legislation that will secure our survival as a people,” he added.

According to Marcoleta, Covid-19 taught lawmakers that the “gentleman’s agreement” is not the test of leadership in the lower chamber but it is the way how they gallantly resolve the problems it brought about.

“Even under the Covid threat and via Zoom, Congress disposed of and discussed critical issues that confronted the nation, including ABSCBN, Meralco, PhilHealth and now, the 2021 budget,” he said.

“May kasabihan po tayo na mahirap magpalit ng kapitan sa gitna ng uma alimpuyong bagyo. I know that in another time, the star of my friend will still shine the brightest. After all, he has the youth and vitality on his side,” he added.

In a manifestation, Caloocan City

Rep. Edgar Erice of the Liberal Party said the term-sharing agreement between Cayetano and Velasco should be postponed given Covid-19 pandemic.

“We are all aware of it. However, in the interest of this House and the interest of the Filipino people who are in dire need of our prompt actions in confronting the pandemic. I think this agreement should make way for the tested leadership of Speaker Alan Peter Cayetano,” Erice added.

“Congressman Velasco’s aspirations can wait. He is young, brilliant and only in his second term. In God’s time, he will shine, but not for now,” he added.

National Unity Party (NUP) and Dasmariñas Rep. Elpidio Barzaga Jr., also in a manifestation, expressed support to the leadership of Cayetano.

Barzaga said the NUP will continue to support Cayetano in the remaining months of the 18th Congress.

Deputy Speaker Danilo Fernandez

said a lot of House members right now believe that “it’s not the right time [to replace Cayetano] because the Congress right now, in addressing the problem of Covid-19, is doing well.”

Deputy Speaker Luis Raymund Villafuerte, a close ally of Cayetano, said while their camp will honor the term-sharing agreement, the members of the House are not keen on having a leadership change.

“The term-sharing will start in November…Now what I am saying is as that time nears, we will honor that but if you ask the congressmen, they do not want a change,” he added.

Anakalusugan Rep. Mike Defensor, Misamis Occidental Rep. Henry Oaminal, Bulacan Rep. Jonathan Sy-Alvarado along with Cavite Reps.

Francis Gerald Abaya, Jesus Crispin Remulla, Strike Revilla, Alex Advincula and Luis Ferrer also backed the leadership of Cayetano.

Honor

MEANWHILE, Buhay Rep. Lito Atienza has reminded Cayetano to honor the term-sharing agreement between him and Velasco with no conditions.

“Speaker Cayetano assumed the Speakership on the basis of the term-sharing agreement between him and Cong. Velasco. They agreed upon that arrangement as suggested

by Cayetano himself. They agreed to this in front of no less than President Duterte himself. Cayetano did not carry the majority numbers at that time, and Cong. Velasco did not ask for that to be a condition before he agreed to the agreement.

Now that his term is about to end and Cong. Velasco is about to begin his, why is the Speaker’s supporters questioning if Cong. Velasco has the numbers. It is totally unfair to make it a condition now,” Atienza said.

Jovee Marie N. Dela Cruz

TheBroa

Business

A4 Thursday, September 24, 2020 | www.businessmirror.com.ph

Low demand, imports influx dampen econo

Cut consumption cou

By Cai Ordinario @cuo_bm & Jasper Emmanuel Arcalas @jearcalas

K

Reporters

NOWN for celebrating the longest Christmas season in the world, the Philippines will also see this year’s holiday on a short budget.

Instead of the usual fare of hamon, quezo de bola, salad, leche flan and other Christmas favorites, some Filipino families may likely swap these for roasted chicken, a simple noodle dish, rice and a no-frills dessert from more affordable ingredients.

Nonetheless, it is still a Noche Buena (Christmas eve meal) that Filipinos would still enjoy, economists like Philippine Institute for Development Studies (PIDS) Senior Research Fellow Roehlano Briones told the BusinessMirror.

“The spread will be simpler and good for just one family. People will still save up to buy hamon and quezo de bola [ham and cheese ball],” Briones said.

Briones’s v iew ref lects the fa l l ing consu mpt ion pat ter n that has marked the economy since lockdowns were imposed in mid-March to contain the Covid-19 pandemic.

Monetary Board member and economist V. Bruce J. Tolentino pointed to the latest Social Weather Station (SWS) indicator on hunger as one direct evidence of falling consumption.

Better-off Pinoys

THE SWS July report noted that one out of five Filipinos, or about 5.2 million families, experienced involuntary hunger (hunger due to lack of food to eat) at least once in the past 3 months.

The report pointed out this was the sum of 15.8 percent or about 3.9 million families who suffered moderate hunger and the 5.1 percent or about 1.3 million families who experienced severe hunger.

The SWS defines moderate hunger as experiencing hunger “only once” or “a few times” while severe hunger refers to those who experienced it “often” or “always” in the last three months.

“There has been a spike in people experiencing hunger—both moderately and severely. This pattern will likely continue as the pandemic prevails and many enterprises are closed or slowed down and many lose their jobs,” Tolentino told the BusinessMirror.

“Economic science predicts that when people’s incomes fall, their total food consumption bill will fall, and that total will also be reallocated to more basic staples— more rice, corn, root crops, and lower priced meats and greens,” Tolentino added.

The recently appointed MB member noted that there would be a “negligible” effect in consumption quantity and quality among better-off Filipinos while consumption adjustments would be largely observed among the less fortunate.

More spending

BASED on the 2018 Family Income and Expenditure Survey (FIES), Filipino families spent P5.91 trillion in

2018 to cover all their food and nonfood expenses. About 42.6 percent of this was spent on food and 33.6 percent was spent on food consumed at home.

In terms of food consumed at home, the highest expense was on bread and cereals at 11 percent.

This covered spending for rice, the country’s food staple.

However, there are differences when the pie is divided according to income classes. Those who have less in life tend to spend more on food compared to those in the upper crust of society.

Data showed a family earning less than P40,000 a year spent P4.37 billion on various food and non-food expenses. In contrast, the richest families or those earning P500,000 and over annually spent P2.08 trillion in 2018.

Families earning P40,000 to P59,999 per year spent P22.23 bi l l ion wh i le t hose e a r n i ng P60,000 to P99,999 annually spent P163.35 billion on various food and non-food expenses.

Upper-income-class households or those earning P100,000 to P249,999 and P250,000 to P499,999 a year spent P1.68 trillion and P1.96 trillion, respectively in 2018.

Of all income classes, those earning less than P40,000 a year spent the most on food expenses, which accounts for 58.3 percent of their annual expenses. This means their food expenses reached P2.76 billion in 2018.

Not at home

DATA showed that only families earning P250,000 to P499,999 a year and those earning P500,000 and over annually spent less than 50 percent of their total expenses on food at 44.1 percent and 31.4 percent, respectively.

In terms of food consumed at home, those earning P60,000 to P99,999 a year and P40,000 to P59,999 annually spent the most at 52.9 percent and 52.2 percent, respectively. With this, they are also the ones who spent the least on food consumed outside the home at 5.4 percent and 6.6 percent, respectively.

It may be noted that those earning P250,000 to P499,999 per year spent the most on food consumed outside the home at 10.1 percent of their expenses.

Further, households earning the least at less than P40,000 a year and those who earned P100,000 to P249,999 annually, allocated almost the same share of their expenses at 8.1 percent and 8.2 percent, respectively, on food consumed outside the home.

The richest, or those earning over P500,000 a month, tend to spend a similar percentage at 8.8 percent of their total expenses, on food consumed outside the home.

Nonetheless, data showed that food, especially food consumed at home, accounted for the largest

share of Filipino families’ expenses in 2018.

Elasticities, handling

NATIONAL Economic and Development Authority Undersecretary Rosemarie G. Edillon told the BusinessMirror that the consumption of food and nonalcoholic beverages in the second quarter of the year grew only by 2.4 percent, slower than the firstquarter growth of 4.7 percent and the 2019 second-quarter growth of 5.5 percent.

The deep contraction at -66.4 percent, Edillon said, was experienced by the restaurant and hotel sector.

The rate came from a contraction of -14.3 percent in the first quarter.

“We do not have information on which food items became less in demand, but based on known income elasticities and handling issues, we have some ideas,” Edillon said.

She added that the consumption of meat products, fish, some fruits and vegetables—which were expensive before the pandemic—are likely to fall as these are income-elastic foods.

Edillon explained that the closure of tourism establishments and restaurants as well as the decline in incomes will also contribute to the drop in the consumption of these food items. “ There is also the problem of supply chain disruptions; although the IATF [Inter-Agency Task Force on Emerging Infectious Diseases] has made sure that delivery of food and other essential goods should not be hampered, there are still regulations that need to be complied, which adds to the cost of delivery,” Edillon said.

Wary to eat out

IN a recent presentation, Ateneo Center for Economic Research and Development (ACERD) Director Alvin P. Ang said Filipinos’ food and non-alcoholic beverage consumption increased to 38 percent of total household consumption in the first semester of 2020 from 34 percent in the same time last year.

Further, Filipinos’ consumption of food from restaurants and use of hotel facilities also shrank to 6 percent in January to June 2020 from 9 percent in the same period last year.

The increase in food consumption was understandable given the relatively cheap food commodities.

Inflation slowed to 2.4 percent in August from 2.7 percent in July this year. The Philippine Statistics Authority (PSA) reported that this led inflation to average 2.5 percent in the January to August period.

However, the increase in food prices was even lower than the average inflation rate at only 1.7 percent in August. While this was still higher than the 0.3 percent recorded in August 2019, this was a significant slowdown from the 2.5 percent posted in July 2020.

The PSA data showed that the 1.7-percent inflation for food in August was the lowest posted this year. It was the lowest since December 2019.

Supply chains

BY specific food item, the PSA said the indices for rice and corn contracted 1.1 percent and 0.6 percent, respectively. Similarly, the index for vegetables declined 0.9 percent during the month, from

a 0.9 percent annual increase in the previous month.

The low inflation, Ang said, was also due to the availability of food in the market. Despite the lockdowns, the government, through the Department of Agriculture (DA), facilitated the movement of various commodities.

Filipinos also had access to rice, and at least one source of protein, chicken, which remained in abundant supply. “[The] DA is on track ensuring availability and connection of supply chains,” he noted.

“In terms of GDP [gross domestic product] growth, it is due to the growth of information, communication technology (ICT), utilities and a little [was due to] food,” Ang told the BusinessMirror. “[For some households], the only thing they can spend on at this time is food.”

However, amid the weak demand, Foundation for Economic Freedom (FEF) President Calixto V. Chikiamco said the pandemic has led more Filipinos to order food online and made them more health- conscious, such as purchasing foods rich in Vitamin C to fight the pandemic.

Pandemic continues

CHIKIAMCO said Filipinos also learned to make purchases in bulk to reduce the number of times they need to go to the grocery. He added that Filipinos also consumed a lot of familiar food items that are considered “comfort food.”

Moving forward, food consumption will increase especially when it comes to the essentials or food staples like rice, in Ang’s v iew. Consumption of “ fancy

food” may take a backseat given the ongoing crisis, he noted.

In an email to BusinessMirror, University of Asia and the Pacific Center for Food and Agri Business Executive Director Rolando T. Dy said the elasticity of demand will definitely set in.

Items considered to have inelastic demand are those that do not have substitutes while commodities that have elastic demand are those with substitutes and could even pass for luxuries.

Overall, Chikiamco said consumption will remain muted as long as mobility restrictions are in place and the spread of the pandemic continues. These limit employment options and generally leave Filipinos without any confidence to spend.

“For sure, consumption will be curtailed, not only because of the limitations in crowd gatherings and restaurant occupancy but because disposable incomes have been eroded with the increased unemployment,” Chikiamco said.

“Also, the fear of the pandemic will continue to hamper consumption.”

Agriculture weak

BRIONES added that while food consumption during the lockdown somehow helped buoy GDP, the agriculture sector does not have enough strength to lead the economy in a high growth path.

In the least, Briones said food consumption, which kept the agriculture sector afloat, helped prevent the economy from suffering a deeper contraction than it had.

Nonetheless, Briones said the potential is there. Food consumption can still help boost growth,

especially if consumers buy from local food sources and reduce their consumption of food items that were either imported or had high import content.

Ang agreed, noting that a lot of imported foods are available in the Philippines. This is especially common among online food businesses.

“Consumers may wish to patronize local food—reduced processed meat which has imported ingredients—fresh pork and chicken, fresh fish, and avoid imports to boost local employment,” Briones said.

Production, peso

THE government, Briones said, can also play an important role in facilitating the distribution of food by encouraging online sales and creating mobile markets.

Dy said if there will be more food consumption, this will help GDP grow. He estimated that currently, food consumption accounts for about 30 percent of GDP. Dy said higher food demand will affect local crops, poultry, pork, meat and fish, especially if these are processed or have valueadded. He added that having local value added in these commodities will help create jobs and lead to higher incomes and, ultimately, faster GDP growth.

Ho w e v e r, C h i k i a mco s a id the Philippines does not produce enough food. Much of the cou nt r y ’s food requ i rements are still being imported such as rice, he noted.

“We don’t produce enough. We import a big portion of our food requirements, including rice,” Chikiamco said. “What may affect

aderLook

sMirror

Editor: Dennis D. Estopace | Thursday, September 24, 2020

A5

omic recovery expected in holiday season

uld ‘cancel’ Christmas our problem is demand as people lost jobs, businesses closed,” Fausto added.

Citing latest government data, Fausto noted 4.6 million unemployed Filipinos today—possibly spelling 4.6 million households with lower food consumption.

Farm-gate prices of live hogs peaked at P170 per kg, but have gone down in recent months to P150 per kg due to lack of demand—considering the fact the local production is down as well.

DREAMSTIME

Tweaking demand

food production is the strong peso, which makes it cheaper to import food. Imported chicken, for example, are flooding the local market.

Extreme volatilities

BROILER raisers who suffered most parts of this year from low farm-gate prices due to glut and lack of demand are thinking less of Christmas.

It was a year like no other for broiler raisers—even worse than 2017, when farm-gate prices plunged due to adverse impact of bird flu outbreaks on Filipinos’ consumer behav ior, industr y players said.

For most months of the year farm-gate prices for broilers were below production cost: P70 per kilogram (kg) to P75 per kg; even plunging to as low as P35 per kg.

The decline in farm-gate prices was caused by higher production coupled by the loss of the hospital, restaurant and industrial (HRI) sector market in the lockdowns.

As this accounted for 30 percent of total industry demand, its absence resulted in a glut.

The current market situation has caused extreme volatilities in the price movements of broilers, with times reaching a peak of P85 per kg and then suddenly dropping below P70 per kg the following week.

Running out of money

AS of mid-September, the average farm-gate price of regular-sized broilers fell slightly to P74.5 per kg from the previous week’s P76 per kg, based on latest United Broiler Raisers Association (Ubra) data.

Worse, consumers in urban areas like Metro Manila did not even

benefit from the downward price movements at the farm-gate level.

The retail price of dressed chicken remained elevated at a range of P140 per kg to P160 per kg in the past months.

“We think demand is getting even weaker. It seems people are running out of money,” Ubra Chairman Gregorio San Diego told the BusinessMirror.

“The producers tried to increase the prices since retail prices remained high but low demand made the farm-gate price retreat,” he added.

However, San Diego said the industry is bracing for a steeper decline in the following days as they do not see demand picking up; worsened by the influx of imported chicken.

“Talks in the broiler sector are that there’s no Christmas this year in terms of level of consumption,” he added.

Over-importation

THE country’s broiler output this year is estimated to grow slightly to 1.441 billion heads from last year’s 1.431 billion heads, but Ubra is pessimistic that the figure would be achieved. Ubra said some broiler raisers have even reduced their production by 30 percent to 40 percent due to current market conditions.

“It’s possible that it will be lower considering the fact that even integrators have already reduced their production volume,” San Diego said. “If chicken meat importation continues to increase, local production may reduce some more.”

A Global Agricultural Information Network (Gain) report has revised downward its projection for

the country’s chicken meat production this year from a 3.44-percent expansion to 15-percent contraction due to lack of demand.

“The 6-month lockdown in the Philippines has heavily affected the hotel, restaurant and institutional industry, where it is estimated that one third of all chicken is consumed,” read the report, prepared by the US Department of Agriculture’s Foreign Agricultural Service in Manila.

Job losses and work closures have also contributed to lower consumer spending, particularly for food consumed outside the home, according to the report.

“Broiler integrators have reportedly cut down or delayed their production cycles to reflect this weak poultry demand,” it added.

Food sufficiency

SEEKING to improve food sufficiency by boosting local production to mitigate impacts of international trade disruptions, the government has been aggressive in its “Plant, Plant, Plant” program.

Industry groups like the Philippine Chamber for Agriculture and Food Inc. (PCAFI) said, however, the program should be complemented with a “Buy, Buy, Buy” program to boost Filipinos’ demand for food products to ensure a market for planters’ produce.

“C hr ist mas demand t his year is far from the Christmas demand that we know,” PCAFI President Danilo V. Fausto told the BusinessMirror.

“What is needed are programs that will stimulate—to help create—demand. There is no problem with production and supply,

FAUSTO has been vocal about government’s stimulus fund, even that of the DA. He has said the stimulus should focus on creating more demand for food products as the country transitions toward the new normal.

Fausto points out that this year is all about survival and stimulating demand to keep the economy running since consumption plays a big part in the country’s economic growth.

He proposes the government continue providing cash subsidies to people who lost their jobs and financial support to businesses, particularly the small and medium enterprises.

Imagine a Christmas without puto bumbong (purple rice cake) after dawn masses: that is how Fausto pictures this year’s yuletide season.

“Filipinos may just make their own hams this Christmas. If they are used to a whole lechon (roast pig), they will just buy two kilograms this year for Noche Buena,” he said.

“The Christmas spirit always will be there but the level of consumption will not be the same.

And since Simbang Gabi is now online, there’s no puto bumbong anymore,” Fausto added.

Hams anew

IN fact, hams may indeed get pricey this Christmas—again. And if families want an alternative? Luncheon meat. Or perhaps, hotdogs.

The damage caused by the African Swine Fever (ASF) to local hog production has been felt this year, causing farm-gate prices of hogs to rise to unprecedented levels resulting in higher retail prices of pork.

Pork prices have hovered above P230 per kg since the Covid-19 pandemic started, forcing consumers to find cheaper alternatives such as eggs.

More so, the tight global pork supply caused by the damage to China’s pork herd due to ASF, have made imports pricier than ever.

Philippine pork imports from January to August fell by 40 percent, the steepest on record.

Against this backdrop, Trade Undersecretary Ruth B. Castelo told the BusinessMirror prices of Noche Buena products, particularly hams, will likely go up this year.

Eyeing hotdogs

LAST year, buyers had to pay nearly P57 more to bring home a kilo of ham last year, as the average price of a 1 kilo shot up 11.35 percent to P558, from P501.08 in 2018, based on the suggested retail price (SRP) list of the Department of Trade and Industry.

They also had to spend an additional P5.5 for an 800-gram variant and P8.17 for the 150-gram option.

If there is a meat product with a bright future this Christmas, it could be hotdogs.

Frabelle Corp. sees demand for hot dogs to increase in the days leading up to Christmas eve, as the meat product’s versatility— it can be eaten on its own, can be topped on spaghetti, can be fused in tomato-based dishes—bring value to a buyer’s money. Industry estimates that hotdog penetration in households is 80 percent, meaning 8 in 10 Filipino families consume hot dogs.

Yuletide sales

PHILIPPINE Amalgamated Supermarkets Association Inc. President Steven T. Cua told the BusinessMirror that the government has to step in to force people to buy during the holidays.

Without intervention, families will keep their cash in their pockets and spend only for basic needs, Cua added.

“Technically speaking, it looks like we’re headed for bleak Christmas sales,” he said.

“This may be helped if the government is able to schedule another round of social amelioration program or a form of soft loan nearing Christmas Day to inject some life into our consumer-led economy,” he added.

For Tolentino, the government should now focus its efforts on improving the competitiveness of other food commodities like vegetables and meats that contribute to the food price inflation.

According to Tolentino, the Philippines “really needs to support agriculture, because it assures food security and jobs.”

He said, “Consumers spend less of their lower incomes on food, and labor wages are made more adequate because food costs are lower...With lower wage bills, the economy can provide more jobs.

Thus, the payoff from greater agriculture productivity and lower food prices is immense.”

Extra efforts

NO less than Agriculture Secretary William D. Dar said that low consumer food demand would “greatly affect food production and farmers.”

Dar explained that if food supply in the market exceeds current consumers’ demand then it will cause prices of specific commodities to fall, which may force farmers to shift in producing to other crops or opt to stop farming at all.

“This is the reason we are strictly implementing our programs to ensure that performance of agriculture will not be disrupted by any changes in consumption patterns, and the whole food systems in the country,” Dar told the BusinessMirror Dar said they are now exerting extra efforts in empowering food producers to enhance their productivity and profitability to ensure sufficient supply of basic food commodities.

Noting that increased food consumption would contribute to higher GDP, Dar said the Department of Agriculture (DA) is “working hard” to ensure that “nutritious and affordable food reaches” Filipino consumers. (Read here about the DA’s stimulus fund: https://businessmirror.com.ph/2020/09/17/p88-billion-of-da-stimulus-fundto-go-to-income-enhancementprojects/).

“We can assure that we will have enough food on our table during Noche Buena and even until the first quarter of 2021. Additionally, the Covid19 pandemic has significantly increased Filipino consumers’ preference on healthy food,” he said.

Affordable commodities

“ THEREFORE, we can expect that most Filipino households will have a healthy and affordable food to feast on this coming holiday,” he added.

Dar pointed out that the agriculture sector grew by 1.6 percent in the second quarter despite the pandemic’s impact, indicating the relative strength and resiliency of the sector.

“Also, as long as accessible and affordable commodities can supply and reach the increasing demand for food, the agriculture sector can help boost our GDP growth,” he said.

“With these efforts, we are hoping that we can achieve the 2 percent growth target, especially with sufficient funds and investments,” he added.

Dar said part of the programs being implemented by the DA under the new normal include improving production-to-consumption value chain while empowering the marginalized sector and supporting diverse distribution efforts with good logistics.

The DA is also harmonizing the food systems with other related sectors, such as energy, water, manufacturing, to build resilience, he added.

Dar said DA is also keen on addressing hunger and all forms of malnutrition, such as obesity and micronutrient deficiencies, through production and consumption of nutritious foods.

Reopening the economy

ULTIMATELY, Edillon said the key to increasing food production and boosting GDP growth is to open the economy in the “safest possible way.”

These efforts should be complemented by the smooth functioning of checkpoints and continued implementation of food resiliency protocols.

“There is a need to effectively manage the supply and distribution of food commodities to ensure enough buffer stock, prevent wastage and spoilage, and minimize the losses of farmers. Food production in both rural and urban areas needs to be promoted,” Edillon said.

Other efforts include the “Plant, Plant, Plant” program, which provides starter kits for urban agriculture and eases access to nutritious food even in a lockdown.

Local government units, Edillon said, can also encourage the use of idle lands for community gardening. They can purchase directly from farmers’ groups for use in relief distribution or engage them to sell their produce in mobile markets.

Further, Edillon said the government must invest in cold storage facilities; and innovations in food packaging and processing, which prolong the shelf-life of food, need to be increased.

She added that delivery services need to be made more efficient through the use of digital marketing platforms.

A6 Thursday, September 24, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Meralco’s ₧200-M lifeline discount

F

lattening economies and killing hundreds of thousands of people, the Covid-19 pandemic has been causing unprecedented devastation and suffering around the world. The resultant health and economic crises, however, present a great opportunity for businesses to show genuine concern for customers in the communities where they do business. Now is a good time for them to demonstrate good corporate citizenship.

The Manila Electric Co. (Meralco) on Monday got a shower of plaudits from House Deputy Speaker Johnny Pimentel for promptly paying the P19 million fine earlier imposed by the Energy Regulatory Commission (ERC) for its failure to establish a mandatory bill installment payment plan for customers during the enhanced community quarantine. “Meralco’s action demonstrates good corporate citizenship that should be emulated by all firms in highly regulated sectors, especially those enjoying exclusive congressional franchises,” Pimentel said.

The commendation came amid a barrage of negative press from Bayan Muna Party-list representatives saying that “Meralco’s refusal to implement the P200 million relief for lifeline electricity users is really anti-poor.” The ERC earlier ordered Meralco to extend an aggregate discount of P200 million plus to all of its lifeline consumers. This will cover end-users with base consumption of zero to 100 kilowatt hours.

Meralco Spokesman Joe Zaldarriaga, however, put the issue to rest when he said in a radio interview that Meralco will comply with the ERC ruling on the P200 million lifeline discount. He categorically said the utility company has paid the penalty imposed by ERC and will implement the zero rating in the distribution charges for lifeline consumers.

Meralco said roughly 2.77 million lifeline customers will have discounts ranging from P114 to P206 in their electric bills in October, in line with the utility firm’s implementation of the ERC sanctions. Based on the company’s calculation, if the distribution, supply, and metering charges of the lifeline users will be set to zero, the total discount for households with 100 kilowatt hours (kwhs) of consumption will be as much as P206.47; while those in the 70kwh level will get a discount of P151.05. Further, the marginalized consumers with usage of 50kwh will not be charged P114.10 worth of DSM charges in their electric bills in October.

The Meralco electricity bill includes many components, including the distribution rate, transmission, generation, taxes and other charges. The Energy Regulatory Commission regulates Meralco’s distribution rate. “The said retail rate discount will provide temporary economic relief to more than 2 million lifeline consumers and their family members at least for a month,” the ERC said in its ruling.

Meralco said: “We are one with the government in overcoming this crisis. We are keeping the lights on for our frontliners and affected Filipinos.” What was left unsaid were the challenges it has to hurdle. Increasing unemployment due to the pandemic has prevented many customers from paying their electricity bills. The payment delays and delinquency of utility bills by end-consumers (residential, commercial, and industrial) is beginning to have an adverse effect along the energy supply chain. Lawrence Fernandez, Meralco vice president for utility economics, said that while Meralco has given its customers installment options, the company itself was not granted a similar reprieve by its power suppliers. He said Meralco has started paying power generators in full since May to help ensure the suppliers can pay for their obligations and keep on producing the electricity that consumers need.

Meralco’s franchise areas include Metro Manila and nearby provinces, which account for about 50 percent of the country’s gross domestic product. A shortage of electricity in these areas can undermine the economy, which is already in recession. Thankfully, Meralco continues working with the energy sector to ensure that electric power remains uninterrupted in the time of the pandemic.

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Accountability and the responsible voter James Jimenez

spox

T

raditional voter education teaches us that voters have rights. As a part of the electorate, citizens have the right to free and fair elections, to have the secrecy of their ballots protected, and for voters running for office, to have free and equal access to government resources. All of that is true, of course, and very important for our democratic way of life to keep on thriving. But one thing—among many, to be honest—traditional voter education doesn’t emphasize nearly enough is the right of voters to hold their elected representatives accountable, once they’ve been installed in power.

According to most voter education lectures, accountability comes from two main mechanisms: first, the recall election; and second, the opportunity to vote lemons out of office when they run for re-election.

To be honest, both these “solutions” are too easy to subvert, too lame and ultimately, available too late to do much good.

For the responsible voter, therefore, accountability means so

much more.

“Holding elected officials accountable” should not be limited to the threat of removal from office—as dramatic as that threat may sound.

Rather, the definition should be given a more active voice; a more practical component that will help ensure faithful performance instead of just penalizing bad governance.

Voters should be taught, therefore, that holding elected officials

Useless criticism

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John Mangun

OUTSIDE THE BOX

Lourdes M. Fernandez

S

ome of us are clinophiles, people who love reclining and lying in bed. A person who is obsessed with tattoos is a stigmatophile. I just found out that I might be a quodophile, one who is overly enthusiastic about “quotes.”

Another person’s words can often express an idea better than my own and can center my own thoughts.

Another person speaking on an issue can bring me a different perspective.

Over the weekend, I found this quote from an unnamed source: “The raindrop never thinks it is responsible for the flood.” When you read that sentence, you receive an incredible image that clearly shows the idea that the speaker is trying to communicate. Almost immediately the negative perception of a flood of water can twist to a “flood” of charity and other positive experiences that a person can bring to the world. The phrase can help us realize the collective impact that many individuals can have.

It also makes us understand that while we may not take responsibility for our “one” action, we never know how that action might fit into the bigger picture and how it might influence others.

Social media is both depressing and enraging. Expressing opinions, no matter how absurd, is a human right, according to the United Nations. St. Paul in the biblical book of 2 Corinthians said, “Because you think you are so smart, you happily listen to other people’s stupidity.” Not an exact translation but that is the idea.

On one hand we complain about social media and the “fake news,” slandering, and other intellectual abominations. But we keep using it “as a dog returns to his vomit.” The

Voters should be taught that holding elected officials accountable starts even before those people become elected officials.

This is why I teach pre-voters— the people who have yet to be registered to vote—to start observing politicians long before they file their certificates of candidacy.

accountable starts even before those people become elected officials. This is why I teach pre-voters—the people who have yet to be registered to vote—to start observing politicians long before they file their certificates of candidacy.

What are the positions they take on issues? What policies do they advocate or oppose? How do they speak in their unguarded moments? A responsible voter can learn more about a politician’s fitness for office from these things than from a campaign advertisement. Or from a video of a politician doing the latest dance challenge on social media.

Do not buy into the fiction that running for office means that a

Karl Marx wrote, “Nothing can be of value without being an object of utility. If it be useless, the labor contained in it is useless, cannot be reckoned as labor, and cannot therefore create value.”

I will not accept that Marx was talking about cryptocurrencies.

Or maybe he was. But useless and nothing of value might be a good way to describe much of the social media bandwidth at times. authors of the book of Proverbs were much more blunt and much less politically correct.

Criticism of a nation, its people and government is truly a God-given right. But sensible, accurate, and even constructive disapproval is becoming rare. We are in the center of a global typhoon, but the Philippines is not The Center. How bad is it in the rest of the world?

Depending on the area, 25 to 60 percent of all restaurants in the US that were closed for quarantine will never reopen. The Philippines is not out of the business-closure woods yet. But in no way are we ever going to be near that point of destruction. We keep being told that we are the “Covid worst” in Southeast Asia. In fact, that

person automatically knows more than you do. Just as princes still pass gas, so too do the people hoping to become elected officials still make mistakes, they can still be swayed by the wrong arguments or, worse, they might just be skillfully pretending to know what they are talking about.

So it is very important to ask them questions like why and how; to interrogate their plans beyond just having them enumerate promises.

Ask: What if your proposal doesn’t work? What if things don’t go according to plan? What if your assumptions are wrong? And if they refuse to answer, or if they beat around the bush too much, call them out on it as well.

In this way, you can make sure that the people who do end up representing you—even though they aren’t the people you voted for— aren’t just going to be place holders more likely to blindly toe the party-line than to meaningfully represent your interests. In this way, you make sure that elected office is a temporary grant of authority by the true sovereign power—you!— and not an abdication; a trust to be held sacred, and not permission to be subjugated.

is like saying you live in the smallest, ugliest house in Forbes Park.

Every country in South America, except for Venezuela and Uruguay, has a higher deaths and cases per million population than the Philippines. Conspiracy theory time. Every nation in South America—and Covid hot spot Mexico—was a Spanish or Portuguese colony at one time.

Which Asian nation has 500 years of Spanish blood running through its veins?

Karl Marx was only interested in remaking the world and pushed so hard on that ideal that many of his smarter economic observations are lost. He wrote, “Nothing can be of value without being an object of utility. If it be useless, the labor contained in it is useless, cannot be reckoned as labor, and cannot therefore create value.”

I will not accept that Marx was talking about cryptocurrencies. Or maybe he was. But useless and nothing of value might be a good way to describe much of the social media bandwidth at times.

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

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Short in action, long in intention Msgr. Sabino A. Vengco Jr.

Alálaong Bagá

I

T is easy to mistake good intentions with the necessary actions required by true, living faith. The parable of the two sons (Matthew 21:28-32) strongly reminds us that we shall be judged on our actions and not just on our sweet intentions.

The good turned disobedient There are those who to others look good and sound good and themselves feel good. They know what is proper and what they should be attending to. They intend to be doing so, and they say so. Hence, they readily appear to others as ideal and exemplary, and they easily think so of themselves. Such were the religious leaders during the time of

Jesus. They felt secure enough in their patented religious sophistication, they paid no heed to John the Baptizer’s call for repentance and transformation. They did not believe Him, as they refused to change any of their ways.

Jesus, akin to John, came but the religious leaders would not take Him seriously either. He told them what the Father’s will really is, but

they held themselves beyond His teachings. They knew all about the law of God, though they fell short of living according to it. They were very much like the son in the parable who knew how to say yes to his father’s wish, but was not really interested to carry it out. These are people who appear to the public as good and who think of themselves as good, but who in God’s eyes are not among His authentic obedient children. They have the right words and slogans but not the right, consequent actions.

The disobedient turned good

There are those who in the assessment of others would be “the last” in any line to heaven and “the least likely to succeed” in the project.

They are persons who seem not to know what is good for them, and who appear to be constantly doing the wrong thing. They may even be themselves resigned to the fact of

The ‘Chinafication’ of Philippine telecom Val A. Villanueva

Businesswise

D

ito Telecommunity, the third telco to challenge the socalled duopoly of Globe Telecom and Smart Communications Inc., says that it will definitely meet its launch target in 2021, even as it shrugs off espionage apprehensions leveled at its partner China Telecom.

Dito’s announcement, however, fails to appease opposition questioning the agreement it signed with the Department of National Defense (DND) to build cell towers inside the country’s military camps.

Given the country’s territorial conflict with China arising from its brazen annexation of islands within the Philippines’s exclusive economic zone, it looks like Dito is destined to be perceived as a sleeper. Such caginess toward the joint venture is reflected in a recent survey conducted between July 3 and 6 by the Social Weather Stations (SWS). The survey revealed that the Filipino people’s trust in China has slid from “poor” to “bad,” as mirrored by a -36 net trust rating, a 9-point dive from -27 in December last year.

It doesn’t help that Dito has chosen Chinese companies to build its cell towers throughout the country.

With most local businesses bleeding from the months-long pandemic lockdown, which also spawned a record-high unemployment rate that placed a huge strain on the economy, critics bewail that Chinese firms are gobbling up jobs that could and should be done by local firms, a direct affront to Filipino cell-tower builders. Local cell site erectors have been left with crumbs, having been awarded only subcontracts.

Based on incontrovertible information passed on to me, Dito is set to award cell tower contracts to any or several of these Chinese firms: Huawei, ZTE, Nokia-Huaxin Bell Shanghai, China Communications Services Corp. Ltd., and Wuhan FiberHome International.

Among the local tower builders that have been left out is Filipinoowned, 99 percent Filipino-staffed Leo Technologies Infrastructure, which has built majority of the cell sites of both Globe and Smart.

I couldn’t help but compare this situation with the influx of Chinese workers in the Philippine Offshore Gaming Operators industry. These POGOs have brought thousands of illegal mainland Chinese workers into the country with the help of corrupt immigration officials, to the detriment of local counterparts. With Dito’s preference for Chinese companies constructing its cell towers, it is not farfetched to think that the incursion of more Chinese workers could ease out our homegrown labor force from jobs that they are competent in performing. This, despite the

Based on incontrovertible information passed on to me, Dito is set to award cell tower contracts to any or several of these Chinese firms: Huawei, ZTE, Nokia-Huaxin Bell Shanghai, China Communications Services Corp. Ltd., and Wuhan FiberHome International.

Among the local tower builders that have been left out is Filipino-owned, 99 percent Filipino-staffed Leo Technologies Infrastructure, which has built majority of the cell sites of both Globe and Smart. constitutional prohibition on foreign firms from owning more than 40 percent of business in the country.

What more if Congress succeeds in altering the Constitution to enable foreigners to have full ownership in some local industries, including telecommunications?

Dito says it has committed to spend P150-billion for its planned commissioning. But as in all other business, the company would not do so if it has not done sufficient pencilpushing to ensure that it can recoup its substantial investment.

There are many foreign investors that have brought in million-dollar investments much larger than what Dito plans to spend here, but never have those companies leveraged such monies to bring in their own workers. Some of them, most especially the Japanese, even send Filipino workers to Japan for training. In the process of transferring technology, Filipinos are encouraged to further hone their skills. Such is part of Japan’s philosophy of corporate social responsibility.

The pandemic has somehow slowed down telecommunications growth, but it still is one of the better investment prospects for local and foreign investors. Although real gross domestic product growth declined from 6.4 percent in 2015 to only 5.8 percent in 2020, and likely to remain as is in 2021, the market remains potentially robust.

Projected mobile subscriber growth would generally be placid during the next five years. However, it is expected to be driven by the continued migration from LTE/4G to 5G services starting 2021, the year most experts predict the competition will intensify.

Imagine the telecommunications’ market landscape that Dito would be treading on: a raw, underdeveloped market with low penetration in both the fixed broadband and fixedline markets. This is due to underinvestment in fixed infrastructure, the dominance of the mobile segment and the rapid development of mobile broadband. In the coming years, most of the investments in the telecom sector will be focused on supporting fiber infrastructure in urban areas, and on 5G infrastructure.

Also, Dito will have an unwarranted advantage over both Globe and PLDT. Having no problems with heirloom equipment, it can always tap into the latest technology through advanced apparatus and systems which are not only service-capable, but much cheaper than those developed a decade ago. It can also use the international gateway that the government has signed with Facebook at a cheaper broadband cost, and use the Transco/NGCP nationwide Fiber Optic Cable as its backbone, as well as other government telecommunication facilities. Both Globe and PLDT poured in money for their own backbones, which eventually limited their ability to deliver fast and cheaper services to remote areas.

Despite Dito’s assurance that espionage will never be a problem even if Dito’s towers nest on military camps, some lawmakers would have none of it. They believe that it is going to be a security nightmare akin to freely giving a third party the password to open up the country’s vault of classified national security secrets.

Also, the United States Senate is bent on delisting from the US Securities Exchanges Chinese companies that have not disclosed whether they are foreign state-backed, such as by the Chinese politburo. This runs parallel to the Philippine senators’ opposition to ChinaTel operating in the country. To compound the problem of Chinese companies, such as China Telecom Americas, China Unicom Americas, Pacific Networks, and ComNet, the US Federal Communications Commission is proceeding with the banning of these companies from operating in the US. Both US government actions are based on concerns about these foreign companies being subjected to control, manipulation and exploitation by foreign governments. Based on past forays of China in the telecommunication industry of other countries, its goal appears to be total dominance— from infrastructure to data piracy, resources, and debt-trap financing.

The US has long been cognizant of the need to restrict Chinese intrusion, especially on its home grounds.

Such is the case with Chinese telecommunications companies that can exercise control over infrastructure at the risk of subjecting millions of American—and in our case, Filipino—users of digital connectivity to cybercrime and electronic espionage.

For comments and suggestions, e-mail me at mvala.v@gmail.com

To be part of God’s kingdom, we must be among those who carry out the divine will in the world: the obedient ones to God’s word in the realities of life, not those who know only how to make verbal avowals while failing to translate the same into deeds.

It is action, not mere lip service that counts. being numbered among the astray and outcasts of society. Such were the religious undesirables during the time of Jesus, like the prostitutes and tax collectors considered lost and beyond redemption. But when they heard John the Baptizer, they believed him and opened themselves to God’s mercy and turned to change their lives.

Jesus preached His gospel of forgiveness, and the sinful and the poor ones availed themselves of

Thursday, September 24, 2020 A7

the chance to be born again in the spirit. They received love and they discovered hope; they saw conversion as vital and possible. They were very much like the other son in the parable who earlier outright said no to the father’s wish, but thought the better of it and changed his mind and did carry out the paternal command. Initially, such persons may have been misled and began their life’s journey with the wrong, worldly values, but later they become enlightened and in truth and in humility learn what actually will lead them to eternal life.

Alálaong bagá, to be part of God’s kingdom, we must be among those who carry out the divine will in the world: the obedient ones to God’s word in the realities of life, not those who know only how to make verbal avowals while failing to translate the same into deeds. It is action, not mere lip service that counts; doers of the word,

not just theorists; fruits delivered, not merely promising blooms. Openness to the truth and readiness to change are clearly needed for a course into the future according to God’s plans. The disobedient and wicked ones can still change their mind and turn away from evil and become good, but the good can also still turn from good and become evil and disobedient. No one can really rest and write a definitive resume for oneself or for anybody until it is over. Crucial is that one be willing to correct past mistakes and indiscretions and change for the better. Those persons complacent with their good intentions may well find themselves excluded, while those written off already beforehand may well be entering the kingdom of God ahead of others. Indeed, the first shall be last, and the last, first.

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

BBB: Can it rev up a flattened economy?

Dr. Rene E. Ofreneo

LABOREM EXERCENS

I

N the proposed national budget for 2021, the focus is on the revival and expansion of the Covid-derailed “Build, Build, Build” (BBB) program of the government. The DBM is allocating a total of P1.107 trillion for the revival of infrastructure development christened as the “Rebound” program. This amount is estimated to be equal to 5.4 percent of the gross domestic product (GDP).

BBB is, of course, at the center of the Duterte administration’s economic growth program for 20172022. According to the economic managers, BBB ushers in the “golden age of infrastructure development” in the country. Past administrations, from Corazon Aquino to Benigno Aquino, neglected infra development, which is one reason for the low level of the country’s productivity, for example, the failure to build and maintain irrigation projects is one explanation for the abysmal performance of the agricultural sector. Annual infra spending from the 1980s to 2000s averaged less than two percent of the GDP. The reason for under-spending on infra development is not difficult to find: the debt-ridden government had limited funds for infras, from the 1980s to early 2010s, no thanks to the debt agreements with the IMF-World Bank group.

Projects lined up under the BBB are numerous and even tantalizing: railways in Luzon and Mindanao (from 77 kms, to grow to 1,900 kms), subways in Metro Manila, road and water projects all over the country, airports and sea ports in major cities, Clark Green City covering 10,000 hectares, and so on. To speed up the implementation of the BBB program, the government has been mobilizing Official Development Assistance (ODA) resources and public funds from the General Appropriations Act (GAA) in support of pet BBB projects.

What is the role of the private sector in the BBB? It plays a central role in all BBB projects—as builder-contractor and as subsequent operatormaintainer of the finished projects, DOF explained. The BBB also covers the Public-Private Partnership (PPP) program, which encourages private sector builders to use their own financial resources in developing infra projects such as the proposed Aerotropolis airport project of San Miguel’s Ramon Ang. Now, can BBB be relied upon as the country’s salva vida in Covid from 2020 to 2022? The coronavirus cannot be licked until the end of 2022 or even later because a reliable, accessible and affordable Covid vaccine cannot be available sooner than this date.

In this connection, Congress, which is now deliberating on the proposed National Budget for 2021, should consider the following in as-

This brings us then to the need to tweak the BBB in support of community rebuilding for the communities of the poor nationwide —be they in the urban, periurban, rural, upland and coastal areas. Covid has amply revealed that these communities have not been enjoying the so-called fruits of high GDP growth in the last two decades. Covid infection has been surging in these areas precisely because of poor housing facilities and lack of access to basic services such as primary health care. Why not transform BBB into a building program for the poor for a better Philippines? sessing what should be the role of BBB as a life saver and growth sustainer.

First, BBB and the country’s soaring debt. The government was not shy in revealing how much the BBB would cost the country. The estimated budget cost announced in 2017-2018 was $160 billion or P8 trillion for the entire period of 2017-2022, or an average of more than P1 trillion a year. Given the ambitious BBB and other expenses of the government, borrowing from local and foreign lenders is unavoidable. Thus, the P6.6 trillion national debt in 2017 went up to P7.7 trillion by the end of 2019.

Some organizations such as the Freedom from Debt Coalition warned the Senate Committee on Economic Affairs that the country is building “a debt bomb”. This warning was ignored by the economic managers. They argued that the country’s debt-to-GDP ratio is one of the lowest in Asia and in the world. In fact, before the Covid-19 pandemic, the ratio had been going down. In 2010, the ratio was 52.4 percent; in 2019, the percentage went down to 39.6, probably the lowest in decades.

However, the arrival of Covid changed all the debt trajectories.

As reported by the DOF, the government borrowed a gargantuan amount of P1.9 trillion in the first seven months of 2020. For the entire year, the DOF expects the total borrowings to reach P3 trillion. In 2021, new borrowings would more or less be the same, P3 trillion, and in 2022,

P2.3 trillion. In short, the total national debt would double by the end of the Duterte administration.

The surge in borrowings immediately altered the trend in the annual debt-to-GDP ratios. The DOF gave new estimates for the ratios: 53.9 percent for 2020, 58.1 percent for 2021 and 59.9 percent in 2022.

The problem is that we have an economy that was slowing down in 2018-2019 and now flattened by the Covid pandemic. Yes, government stimulus spending during crisis periods is crucial. But where will the government get the wherewithal if the economy remains weak despite the BBB? So far, there are no indications that BBB spending in 2017-2019 helped boost the growth of industry and agriculture. GDP growth was due largely to the robust expansion of services such as education, real state, entertainment, tourism and so on, thanks mainly to the remittances of 10 million plus OFWs, who have succeeded in transforming the economy into a “consumption-driven” one.

But now the remittances are on the decline. Industrial output is also going down due to weakened demand.

Clearly, it is critical for the government planners to re-think how to do stimulus spending in a highimpact-least-cost manner. This means strategic adjustments in the BBB program. For example, why not postpone the expensive subway projects that are likely to use more machines than people?

Such adjustments in BBB and government spending are also needed in the light of the other pressing requirements of the country under the pandemic. As this column keeps reiterating, the foremost task facing the nation is to save all the citizens of this country, especially the vulnerables.

The vulnerables happen to be the overwhelming majority, composed of the displaced and jobless, including the “newly-impoverished” MSME entrepreneurs who have to shut down their businesses. Thus, it is surprising that the proposed 2021 budget does not give enough attention to the social amelioration of the masses, the restoration of jobs and livelihoods of the ordinary workers (as outlined in Congresswoman Stella Quimbo’s ARISE), and the health needs of the entire population. Without a healthy society, infra development becomes meaningless.

This brings us then to the need to tweak the BBB in support of community rebuilding for the communities of the poor nationwide—be they in the urban, peri-urban, rural, upland and coastal areas. Covid has amply revealed that these communities have not been enjoying the so-called fruits of high GDP growth in the last two decades. Covid infection has been surging in these areas precisely because of poor housing facilities and lack of access to basic services such as primary health care. Why not transform BBB into a building program for the poor for a better Philippines?

A8 Thursday, September 24, 2020

Financial institutions ready transition plans from IBORs W

By Tyrone Jasper C. Piad @Tyronepiad

ITH 15 months left, the majority of the financial institutions are prepared to transition to alternative credit rate benchmarks from the incumbent interbank offered rates (IBORs), according to a survey by Moody’s Investors Service.

The debt watcher said it surveyed 85 banks and nonbank financial institutions (NBFIs) across the globe this year to know their plans amid the phaseout of IBORs by end-2021.

“Most banks [75 percent] and NBFIs [82 percent] say their transition plans are on track and that

Covid-19 [coronavirus disease 2019] will not delay the IBOR phaseout,” Moody’s said.

This was an improvement, the credit rating agency firm said, stressing that only around twothirds of the banks and one-third of the NBFIs had transition plans last year.

On the other hand, 27 percent of the banks and 18 percent of the NBFIs said they are still behind in some aspects of the transition plans because of the coronavirus-related delays.

Moody’s stressed, however, that communication with stakeholders is deemed crucial, noting that transition cost is something that the banks and NBFIs should discuss with the borrowers. Majority of them expect to split the cost with the clients or fully absorb the expenses to avoid reputational risks.

Currently, most of the surveyed financial institutions are making inventory of the IBOR-linked contracts to prepare their amendments.

“A majority have also adopted communication plans, though most client engagement will start once final fallback protocols are available,” Moody’s said.

Around 60 percent of the surveyed banks, meanwhile, have issued floating-rate debt linked to alternative reference rates (ARRs) in 2020 from just 20 percent in the previous year.

Apart from this, the banks’ exposure to Sterling Overnight Index Average (SONIA) increased this year as well.

“However, sur veyed NBFIs have not made any progress issuing floating-rate debt indexed to ARRs,” Moody’s said, noting that only two pension funds issued short-term secured overnight financing rate—another interest benchmark—paper.

RCBC Chief Economist Michael L. Ricafort, in an earlier interview with the BusinessMirror, said the local banking industry has been preparing for the imminent transition in recent years. Should the

transition go accordingly, he said the impact would be “minimal.”

S&P Global Ratings Analyst Nikita Anand said the local financial system may not find it too difficult to adapt to the new interest rate benchmark because of its low exposures on IBOR-linked instruments.

Fitch Ratings Director for APACBanks Willie Tanoto, meanwhile, stressed the need for a thorough review of the banks’ current contract portfolio to measure and manage exposures.

“In addition, a host of systems and procedures need to be in place, from updated loan and trading systems and software, administrative and accounting systems, risk management modelling adjustments, updated legal procedures, regulatory reporting, internal staff training, external customer education and so on,” he said.

Cheers greet Boracay’s opening to more tourists T

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HE Department of Tourism (DOT) is looking to reopen most major tourism destinations

before the year ends.

In an interview over ANC News on Wednesday, Tourism Secretary

Bernadette Romulo Puyat said, “Hopefully, all the tourism destinations under a modified GCQ [general community quarantine] will be open to [tourists] outside their province or outside their city or municipality.”

On Tuesday morning, the DOT chief had launched the Ridge and Reef travel corridor between Baguio City and the Ilocos region, starting October 1. (See, “Sagada, other North Luzon destinations eye reopening to tourists,” in the BusinessMirror, September 23, 2020.)

This developed as stakeholders on Boracay Island welcomed the decision of the Boracay Inter-Agency Task Force (BIATF) on Tuesday evening to allow more tourists, even those coming from GCQ areas, to visit the island starting October 1.

(See, “Boracay to reopen to tourists from GCQ October 1,” in the BusinessMirror, September 22, 2020.)

In a statement, Ma. Elena T. Brugger, president of the Philippine Chamber of Commerce and Industry-Boracay said, “PCCI welcomes the scheduled October 1 opening [of Boracay]. The success of reopening the island lies in strictly following all health and safety protocols to prevent a local outbreak and another closure. We call on all the stakeholders and members of the business community to prioritize health and safety overall.”

Randy Salvador, general manager of Coast Boracay, was equally

enthusiastic, saying, “We all need to take a quick break from this health crisis brought on by Covid-19.” He noted the DOT secretary “was true to her word in support to the President’s State of the Nation Address last July, that Filipinos will boost the economy by traveling local. By opening Boracay, this can be the jumpstart of local tourism and soon, international tourism.”

He underscored, “Boracay Island as a multi-awarded tourist destination in the world, is in the spotlight once again to showcase and be a model as a safe yet fun tourist destination…with the support of the LGUs [local government units] and stakeholders, we have to do this right and there is no other way but to move forward and coexist with the virus.”

Restaurateur Nowie Potenciano (Sunny Side Cafe/Coco Mama) was more cautious about the development, however. He and his wife Odette had closed their restaurants on Boracay as the pandemic caused revenues to drop, and didn’t feel reassured to return to the island.

“It’s still too big a risk for us to open right now. All the LGUs have their own guidelines which make it very confusing for would-be travelers.”

He cited Tagaytay City where conflicting pronouncements were issued by the Inter-Agency Task Force on Emerging Infectious Diseases and the Tagaytay LGU regarding visitors’ travel passes.

Continued on A2

Small nuke generators eyed for off-grid sites

S

MALL nuclear power generators could be put up in the country to power off-grid areas by 2027, Energy Secretary Alfonso Cusi said.

“With the evolution of Small Modular Reactors that are suitable for the off-grid or island areas of the Philippines, the possibility of establishing a modular power plant in the country might come sooner—even as early as 2027,”said Cusi before the International Atomic Energy Agency (IAEA) Scientific Forum on September 22.

He believes the time is ripe for the Philippines to embark on a full national nuclear energy program, following the issuance of Executive Order (EO) No. 116 creating the Nuclear Energy Program Inter-Agency Committee.

The committee, to be chaired by the DOE, will study the adoption of a national position on a Nuclear Energy Program.

“We are strongly pushing for the passage of the necessary legal and regulatory frameworks to pave the way for nuclear power, which are among the bills that have been certified as urgent in Congress,” he said.

The energy chief expressed his regret over the country’s having missed its chance to use nuclear energy as an alternative source of power early on.

“I firmly believe that our country’s economic landscape would be much different had we tapped nuclear power back then. Instead, our economic development was stunted, whereas our regional neighbors, who had boldly ventured towards nuclear, had all been transformed into economic powerhouses. I continue my call on my countrymen to open themselves to the idea,” he said.

Before the EO was issued, the Philippine Energy Plan already projected the inclusion of nuclear power in the country’s energy mix by 2030, Cusi said.

A survey firm in the Philippines was also commissioned to gauge national public perception on nuclear energy in 2019. Results indicated that a majority of Filipinos were open to nuclear energy.

“With such a positive turnout, I feel that now is time for intensified and informed public discussions on nuclear energy. I hope that our update would open doors for potential collaborative opportunities in the future with the international nuclear energy community, or with our participants in this Forum,” Cusi said.

The Scientific Forum on “Nuclear Power and the Clean Energy Transition” is being held in conjunction with the 64th IAEA General Conference until September 25.

Featuring speakers from the government, industry, and international organizations, the event seeks to facilitate discussions on how nuclear power figures in the global transition to clean energy. Lenie Lectura

DOH, DOLE move on health workers’ pay

By Samuel P. Medenilla

T

@sam_medenilla

HE gover nment is now pushing for better pay and benefits for its medical workers in a bid to persuade them to stay put amid the Covid-19 pandemic.

The Department of Health (DOH) wants to raise the salaries for government nurses with higher positions to address prevailing wage distortion among their ranks.

This after the Supreme Court’s decision to uphold the provision of Republic Act 9173, which states that the pay for entry-level nurses should be at least P30,000 or equivalent to salary grade (SG) 15, became final and executory last year.

The decision will make the salaries of entry-level nurses equal to those for the position of Nurse 2.

No legal basis

During an online forum hosted by the Filipino Nurses United (FNU) on Tuesday, Health Undersecretary Roger Tong-an said they will meet with the Department of Budget and Management (DBM) soon to remedy the situation by proposing additional pay for those with the rank of Nurse 2 and those with subsequent higher positions.

He said they initially proposed raising the SG of Nurse 2 up to Nurse 7 by at least one level.

This means Nurse 2 will get SG 16, Nurse 3 with SG 17 and so on so forth.

However, DBM rejected these

adjustments for having “no legal basis,” Tong-an said.

Compromise

As a compromise, Tong-an said they agreed to retain the SG 15 Nurse 2 position, but he suggests these Nurses should still given a pay increase.

In their proposal, Nurse 1 with SG 15, will have a basic pay of P32,053, while Nurse 2 will be SG 15, but with increment of step 8, so they will get a pay of P34,801.

He hoped DBM will accept the proposal, although ultimately he said they are eyeing to raise the respective pay of those nurses with Nurse 2 to Nurse 7 positions though the passage of appropriate legislation.

Continued on A2

Companies Thursday, September 24, 2020

B1

MerryMart forays into ‘dark stores’

M

By VG Cabuag

@villygc

errymart Consumer Corp., a company led by businessman Edgar Sia II, on Wednesday said it signed a deal with Foodpanda Philippines to operate what it called a “dark grocery” store concept in the country.

The “dark grocery” store concept is a dedicated online shop for grocery items that offer a 15-minute delivery service within a specific area. The new business will be operated by its unit MerryMart Grocery Centers Inc. and Panda Mart, Foodpanda’s instant grocery delivery services.

The first two online stores are set to start operations in Makati City and Manila next month, the company said.

“This concept is a real game changer in the online grocery space, imagine being able to buy exactly what you need, when you need it, and for it to arrive at your doorstep in a very short span of time. We are glad to join forces with the global delivery platform Foodpanda to power this ‘dark grocery’ store concept as they are the leaders in the online food delivery space,” Sia, the company’s chairman, said.

“These dark grocery stores will generally be located in select hidden locations and are exclusively intended for online deliveries, we see this initiative to complement the expansion of the brick-andmortar MerryMart branches which will serve both delivery

and walk-in customers.”

The said concept, however, is not new to the Philippines as there are already a number of mobile phone applications that are already catering to such segment of grocery delivery, including Honestbee that shut down its operations last year, MetroMart, and Lazada’s LazMart.

MerryMart has a total of 11 operational branches and targets to end the year with 25 branches. It aims to open its 100th branch by December 2021.

The company is targeting to cover all the grocery retail categories from small, medium and large grocery retail formats.

Mer r yMart reported a 24-percent increase in its net income in the first half to P13.67 million, from last year’s P11.03 million.

Revenues for the period grew 35 percent to P1.64 billion from last year’s P1.21 billion last year.

Foodpanda Philippines has over 20,000 riders and is present in 71 cities across the country. The company is operated by the Berlin-based Delivery Hero SE which operates in 51 countries.

Loan payments from electric coops declined in H1—NEA

By Lenie Lectura @llectura

T

he country’s electric cooperatives (ECs) posted a total of P773.91 million in loan payments for the first six months of the year, the National Electrification Administration (NEA) said on Wednesday.

The amount, which translates to 95.90-percent collection efficiency, is 27 percent lower than the P1.098 billion registered in the same period last year.

Milagros Robles, NEA acting director of Finance Services Department, said most ECs utilized their advance payment to pay for their dues during the period. This and the extension for amortization payments were the reasons for lower collection.

NEA Administrator Edgardo Masongsong earlier extended for 30 days the pay-

ment deadline for loan amortization of ECs fell due in the first and second quarters.

Many parts of the country were under lockdown during the period.

The top 5 highest-paying ECs in the list are Nueva Ecija II Electric Cooperative Inc.- Area 2, Occidental Mindoro Electric Cooperative Inc., Central Pangasinan Electric Cooperative Inc., First Laguna Electric Cooperative Inc., and Misamis Oriental I Rural Electric Service Cooperative Inc. The agency offers various loan windows to qualified ECs, such as regular, calamity and concessional loans, stand-by and short-term credit loans, single-digit system loss, renewable energy, and modular generator sets loan.

The agency also offers 10-year calamity loans at 3.25 percent annual interest.

NEA is responsible for the electrification of rural communities, regulating 121 ECs.

URC Thailand bags FDA Quality Award

T

he Thai unit of Universal Robina Corp. (URC), the food group of the Gokongwei family, has bagged Thailand’s FDA Quality Award for Year 2020, making it the only Filipino company to receive such recognition in the food category.

URC (Thailand) Co. Ltd. was recognized for its use of efficient systems to manufacture safe and high-quality products, the company said. It was also lauded for implementing socially responsible projects and prioritizing safety and quality for its consumers.

URC Thailand produces many of the brands that its parent company is known for in the Philippines, plus others that are distinct to markets in Southeast Asia, including Jack ‘n Jill Fun-O,

Tivoli, Roller Coaster, Cream-O, Dewberry, Lausanne, Dynamite and Lush.

“Receiving this award is one of the company’s successes, as providing safe and quality products to our consumers is a collaboration of everyone in the organization,” URC Quality Assurance and Quality Management System Manager Boonyarat Chunet said.

“We will stay committed and plans to further uplift the quality system of our organization to bring it to the next level,” he added.

The award was given by Thailand’s Ministry of Public Health.

URC has expanded its presence in the Asean and Oceania regions. It also exports to markets like the United States, Europe and New Zealand. VG Cabuag

B2

Companies BusinessMirror

Thursday, September 24, 2020

www.businessmirror.com.ph

SMC backs govt effort to clean up Manila Bay

S

By Jonathan L. Mayuga

@jonlmayuga

an Miguel Corp. (SMC) President and COO Ramon S. Ang lauded the government’s effort to clean up and rehabilitate Manila Bay which required the dredging and removal of silt, trash, and other obstructions from tributaries.

“Government has done a really good job cleaning up Manila Bay. Water quality has improved a lot.

But we all need to pitch in and do our

part to sustain these initial gains,” Ang said in a statement.

“Cleaning the tributaries leading to Manila Bay would entail massive

cost and we understand that government has to prioritize more urgent basic needs during the pandemic. We are here to support the government in whatever way we can.”

SMC is targeting to dredge a total of 700,000 tons of garbage from the Tullahan River and Pasig River every year in the next 10 years as part of its pledge under the massive P1-billion Tullahan-Tinajeros dredging and clean-up project and planned Pasig River clean up.

Cleanup operations in Tullahan continue to remove 600 tons of garbage daily since resuming operations with the lifting of the quarantine restrictions in June.

SMC is also looking to dredge major rivers and water tributaries in Bulacan that lead to Manila Bay.

Bulacan airport

The proponent of the P734-billion New Manila International Airport in Bulacan, SMC is now preparing for the construction phase.

An SMC hydrology study has identified the Marilao-MeycauayanObando River System (MMORS) as one of the major tributaries leading

to Manila Bay that will need constant dredging.

Aside from MMORS, SMC also indicated the Malolos stream and the Tullahan River, the latter acting as a spillway for water coming from Angat and Ipo Dams.

“Aside from the dredging and cleaning, the rivers in Bulacan will need to be widened and deepened in order to increase their capacity to carry excess rainwater or water coming from upstream and thus reduce flooding,” Ang said.

Flood mitigation activities

“Flood mitigation in Bulacan is something we committed to the people from day one. It’s not just to benefit the airport, more importantly, it will benefit the entire province, Metro Manila, and parts of Central Luzon,” he said.

Ang said that on a daily basis, SMC extracts an average of 600 tons of silt and solid waste from the initial 5.25-km part of the Tullahan from Bagumbayan South in Navotas City to Barangay Catmon in Malabon City.

The entire Tullahan-Tinajeros river system stretches 27 kilometers

from the La Mesa Dam to Navotas City. As of September 14, more than 29,000 cubic meters of dredged soil and solid waste were collected from the river.

To fast-track operations, SMC acquired larger excavators, a fleet of barges, tugboats, cranes, and dump trucks and is looking to acquire more equipment as the project progresses.

“We are looking to complete the Navotas-Malabon section in two years and we are expecting to dredge a total of 1 million cubic meters from this section alone. From there, we will move to the Valenzuela and Caloocan section of the Tullahan River,” said Ang. The Navotas-Malabon phase of the dredging project is divided into 5 sectors: Sector 1 from Manila Bay to Tonsuya Bridge; Sector 2 from Tonsuya Bridge to Lambingan Bridge; Sector 3 from Lambingan Bridge to Tinajeros Bridge; Sector 4 from Tinajeros Bridge to Tullahan Bridge, and Sector 5 from Tullahan Bridge up to Potrero. The accumulation of trash and silt has reduced the depth of many sections of the Tullahan River to just one to two meters. A DPWH

study stated the need to increase the depth of the Tullahan River to 5 meters to increase its capacity and reduce flooding in nearby areas.

“By dredging, cleaning, deepening and widening these rivers, we will be able to improve water quality enough to attract marine life again and for these rivers to be utilized as an alternative means of transport,” he said.

“This is a sustainable and longterm solution to the perennial flooding in Bulacan. It will be a major, coordinated effort between many stakeholders, local government units, and residents.”

Ang said the airport project will not worsen the flooding as the company has set in place flood mitigation measures that will help the whole province as well. “We will make sure that this airport will live up to its promise to bring positive change in the community and the lives of many Filipinos.”

Recently, SMC also has undertaken to plant a total of 190,000 mangroves over 76 hectares of coastal areas in Bulacan and Central Luzon with Hagonoy town as pilot site.

PhilRatings upgrades credit rating of PBB

P

hilippine Business Bank (PBB) received a PRS Aa credit rating with a stable outlook from the Philippine Rating Services Corp.

(PhilRatings).

“The Issuer Credit Rating takes into account PBB’s above satisfactory asset quality, funding profile, and continued positive operating results,

amid the community quarantine and pandemic, supporting expectations that the bank’s financial performance will remain more than satisfactory, at least in the short-term period,” the Yao-led bank said in a disclosure on Wednesday.

In addition, PhilRatings also considered the bank’s target market—the small and medium

enterprises. The said sector is currently dealing with the challenges brought about by the economic uncertainty amid the coronavirus pandemic.

A PRS Aa rating means the firm has a strong capacity to meet its financial commitments. Meanwhile, a stable outlook means that the rating is likely to remain unchanged in the next 12 months.

mutual funds

PBB saw its net income rise by 37.2 percent to P794.9 million in the first semester from last year’s P578.9 million despite the challenging market conditions. It allocated P550 million in loan loss reserves in the first half, higher than the P150 million earmarked in the same period last year. Tyrone Jasper C. Piad

September 23, 2020

NAV One Year Three Year Five Year Y-T-D

per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 194.17 -23.98% -12.06% -5.08% -22.9% ATRAM Alpha Opportunity Fund, Inc. -a 1.0772 -31.25% -13.52% -2.89% -22.05% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.6065 -34.26% -16.45% -6.96% -29.14% Climbs Share Capital Equity Investment Fund Corp. -a 0.6652 -30.71% -12.95% n.a. -25.92% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.672 -20.8% n.a. n.a. -20.88% First Metro Save and Learn Equity Fund,Inc. -a 4.1758 -22.76% -10.17% -4.78% -21.63% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6514 -24.86% -12.67% n.a.

-23.69% MBG Equity Investment Fund, Inc. -a

82.11 -30.24% n.a. n.a. -20.45% PAMI Equity Index Fund, Inc. -a 38.8741 -24.99% -10.82% -3.99% -24.19% Philam Strategic Growth Fund, Inc. -a 418.25 -22.33% -10.1% -4.11% -21.5% Philequity Alpha One Fund, Inc. -a,d,5 0.8703 n.a. n.a. n.a. -15.51% Philequity Dividend Yield Fund, Inc. -a 0.994 -23.66% -10.19% -3.66% -22.76% Philequity Fund, Inc. -a 29.1202 -24.05% -9.86% -3.31% -23.16% Philequity MSCI Philippine Index Fund, Inc. -a 0.7655 -25.42% n.a. n.a. -24.81% Philequity PSE Index Fund Inc. -a 3.9693 -24.61% -10.31% -3.29% -24.01% Philippine Stock Index Fund Corp. -a

663.6 -24.5% -10.3% -3.41% -23.9% Soldivo Strategic Growth Fund, Inc. -a 0.6016 -33.85% -14% -7.26% -29.34% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.0656 -28% -11.65% -4.73% -27.17% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7603 -24.72% -10.49% -3.48% -24.03% United Fund, Inc. -a 2.7818 -24.33% -9.37% -2.99% -23.85% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 89.1216 -24.38% -9.87% -2.63% -23.8% Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b $1.0522 10.05% -0.4% 3.61% 2.31% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4715 12.82% 6.97% n.a.

6.73% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5412 -5.9% -5.56% -3% -1.38% ATRAM Philippine Balanced Fund, Inc. -a 2.0328 -11.1% -5.63% -1.36% -6.8% First Metro Save and Learn Balanced Fund Inc. -a 2.3776 -10.1% -4.3% -2.67% -9.65% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1718 n.a. n.a. n.a.

-24.81% NCM Mutual Fund of the Phils., Inc. -a -6.69% -2.13% 0.1% -6.97% 1.8248 PAMI Horizon Fund, Inc. -a 3.4288 -9.12% -3.93% -1.18% -9.51% Philam Fund, Inc. -a 15.304 -9.52% -4.14% -1.31% -9.77% Solidaritas Fund, Inc. -a 1.8959 -11.45% -4.94% -1.3% -10.66% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.23 -16.43% -6.19% -2.52% -16.4% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9243 -9.04% n.a. n.a.

-9% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8196 -18.32% n.a. n.a.

-17.74% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.7961 -20.45% n.a. n.a. -19.84% Sun Life Prosperity Dynamic Fund, Inc. -a 0.7891 -19.63% -7.54% -3.47% -19.05% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03902 1.59% 2.66% 2.13% 2.15% PAMI Asia Balanced Fund, Inc. -b $1.043 5.68% 0.5% 3.42% 3.06% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0612 7.46% 4.84% 5.56% 3.85% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.153 3.81% 2.56% n.a.

2.15% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 367.72 3.91% 3.08% 2.57% 2.73% ATRAM Corporate Bond Fund, Inc. -a

1.9498 1.75% 0.94% 0.23% 2.51% Cocolife Fixed Income Fund, Inc. -a 3.2011 3.84% 4.81% 5% 2.67% Ekklesia Mutual Fund Inc. -a 2.2866 3.92% 2.65% 2.16% 2.84% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4442 4.9% 3.31% 1.96% 3.61% Philam Bond Fund, Inc. -a 4.6081 7.56% 4.07% 2.41% 5.38% 1.3098 5.93% 4.33% 2.44% 4.23% Philam Managed Income Fund, Inc. -a,6 Philequity Peso Bond Fund, Inc. -a 3.9434 5.52% 4.06% 2.25% 4.1% Soldivo Bond Fund, Inc. -a 1.0332 8.95% 3.49% 1.82% 7.15% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1719 5.31% 4.65% 2.78% 3.13% Sun Life Prosperity GS Fund, Inc. -a

1.7349 4.12% 3.91% 2.28% 1.99% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $478.17 2.83% 2.49% 2.79% 2.09% ALFM Euro Bond Fund, Inc. -a Є217.14 -1.35% 0.81% 1.16% -1.21% 3.59% 3.01% 2.65% 2.63% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2389 First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0263 1.94% 1.57% 1.59% 1.94% PAMI Global Bond Fund, Inc -b $1.0876 -0.76% 0.21% 0.35% -0.55% Philam Dollar Bond Fund, Inc. -a $2.4921 3.26% 3.52% 3.3% 3.69% Philequity Dollar Income Fund Inc. -a $0.061283 2.03% 2.2% 2.07% 1.63% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1886 0.91% 1.77% 2.37% 0.42% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 129.09 3.62% 3.29% 2.51% 2.59% First Metro Save and Learn Money Market Fund, Inc. -a 1.0448 2.21% n.a. n.a.

1.8% Sun Life Prosperity Money Market Fund, Inc. -a 1.2902 2.85% 3.03% 2.61% 1.99% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0489 1.58% n.a. n.a.

1.02% Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 0.9822 n.a. n.a. n.a. n.a.

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

-5.05%

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

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

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

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

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

Editor: Anne Ruth Dela Cruz

Start early, ease senior skin troubles

By Anne Ruth Dela Cruz

A

s you get older, you notice that you start having health issues.

Your start to notice aches in various parts of your body; you get tired easily and sometimes, you experience heart burn after having a feast. There is one part of your body that experiences dramatic changes as you age and that is your skin.

Your skin also becomes rougher and develops lesions and slack as the loss of elastic tissue or elastin in the skin causes skin to hang loosely. Skin becomes more transparent with the thinning of the epidermis (surface layer of the skin). You will also notice that your skin is more fragile and becomes more easily bruised because of thinner blood vessel walls.

“Our skin is at the mercy of many different factors that set in motion the start of the aging process like sunlight, harsh weather, bad habits, cosmetics that you apply and stress, among others,” said Dr. Grace Carole Beltran, a dermatologist, dermatologic surgeon and genitologist.

“The skin definitely changes together with the external factors and that could hasten it. Genetics definitely has a say on these changes too,” she added.

Lifestyle, habits

Other factors that could affect your skin include lifestyle, diet and other personal habits. Smoking and alcohol, for example, “can produce free radicals that can damage cells and produce premature wrinkles.”

“Exposure to the sun, on the other hand, leads to photoaging [dermatoheliosis] pollution, loss of subcutaneos support [fatty tissue between your skin and muscle],” Dr. Beltran said. “Other factors that contribute to aging of the skin include stress. gravity, daily facial movement, obesity and even sleeping position.”

Aside from the changes brought about by aging, Dr. Beltran pointed out that other things could set in. These include a crawling, pricking sensation, skin dryness and flakiness, skin darkening and thickening usually on the face, thinning of the skin elsewhere so that scars which were not present during your younger years suddenly become evident.

Veins also become more prominent and are easily bruised.

So how do you look after your skin when you reach your twilight years?

Dr. Beltran said “prevention is the key” to skin care. This means that when you reach 25 years of age, you should “be conscious about all these factors that hasten the aging process so that as early as that, you can change your lifestyle and habits.”

Start early

“You can alsw o start early when it comes to sun protection. In fact, this should be done as early as during childhood or once the child starts getting exposed to sunlight,” she said. “Rejuvenating creams, procedures such as botox, lasers, fillers, whitening packages can be started at age 25 to 40 years old, while ultraformer/ ultherapy can be started later like for those people in their 50s to 60s.”

Dr. Beltran emphasized that the procedures will be recommended based on the severity of the age problem. A combination treatment is what is best for most, she added. Then as you reach the senior citizen bracket “surgical procedures might be the answer to improve on how one would look.”

Since senior citizens have been locked up at home because of the Covid-19 pandemic, Dr. Beltran advised them to eat healthy, exercise regularly and avoid alcohol although “they can take one glass of red wine every day.”

“Avoid stress and do not worry to much about this pandemic but at the same time protect yourself by not going out,” she said. “Enjoy your time with your family. Do things you did not do before like engage in reading, the arts, playing musical instruments, writing stories, cooking, cleaning the house and most importantly, pray.”

Health&Fitness BusinessMirror

Thursday, September 24, 2020 B3

Parents, teachers lead the way in mental health

H

By Claudeth Mocon-Ciriaco

ow important is it for parents and teachers to look after their mental health during the Covid-19 pandemic?

Philippine Mental Health Association (PMHA), Inc. National Executive Director, Dr. Carolina Uno-Rayco has underscored the importance of parents and teachers to take care of their mental health as the new realities of the pandemic are starting to set in especially now that some private schools have already started online classes.

“It is important that we, as parents and teachers, also take care of our mental health. Tayo muna, sa atin mag sisimula.

Our students, our children actually take from us,” Rayco said during the online Orientation-Meeting regarding PMHA Mental Health and Psychosocial Support for Frontline Health Workers.

Rayco said that whatever the children sees, they emulate.

“So when they see that we are super stressed, super anxious, then most likely they will also feel that way. They may also behave in a manner that may show their anxiety,” she added.

Rayco noted, without explaining in detail, that children manifest their anxiety and negative feelings in a “very different way.”

“So, it is better that we should start taking care of our mental health first. Set boundaries, although this is very difficult especially now that everyone is working from home, studying at home,” Rayco said as she stressed the importance of practicing physical and psychological boundaries.

DepEd’s Psychosocial support

In order to further strengthen the role of parents and teachers as the education frontline amid the pandemic, the Department of Education (DepEd) is conducting a series of Psychosocial Support and Training for parents, teachers, school heads and identified DepEd region and division non-teaching personnel as the opening of School Year 2020-2021 approaches.

Education Secretary Leonor Magtolis Briones also said that when classes start on October 5, students will receive psychosocial support for at least two weeks.

For parents, the Department launched in July “Gabay Bahay: An Online Parenting Series,” a weekly online learning activity with the goal of engaging parents in protecting the health, safety and well-being

of their children.

This is in line with the Department’s goal of protecting and fulfilling the rights of a child anchored on the Convention on the Rights of Children especially during community quarantine.

Challenging times

With the pandemic, the task of educating students has become more challenging because schools are temporarily halted and the DepEd saw that parents could be vital in fulfilling the continuity of learning.

As implementing partners of the online parenting series, Save the Children prepared the modules that were discussed in the sessions while Globe Telecom Inc. provided the resource persons.

This online activity started last July 15 and aired its last episode on August 19.

The Psychosocial Support and Training on Wellness ran until September 11 with topics that included self-care, intellectual and financial wellness, environmental wellness, social and vocational wellness and other dimensions of wellness which were led by professionals in psychosocial support.

“Isolated but not alone”

To ensure the mental stability of the top leaders at department, Briones emphasized the need to help each other as she led the fourth and final group session of DepEd’s Kaginhawaan of Top Leaders earlier.

“I thought that we needed to assure

each other in the department that we are for each other and that we will hold each other’s hands. That we are going to be together because the magnitude of the change that DepEd is facing is so much greater than perhaps what other departments are facing,” Briones said.

Briones pointed out her experiences during the pandemic, especially when she was infected by Covid-19, and how she carried on in leading the department’s initiatives for the upcoming school year.

Intense degree of anxiety

“I am very happy that this little exercise that we engaged in has really taken place and what pushed me to suggest it [Director] Roni [Co] and the others is that I was also undergoing the same, if not much more, intense degree of anxiety, of fear and insecurity as DepEd has been adjusting and planning, and trying to make sure that education continues even as we have this pandemic,” she added.

The event, spearheaded by the Disaster Risk Reduction and Management Service (DRRMS), served as a culminating activity for the series of psychosocial support activities held for the members of the Management Committee (ManCom) to make sure that their psychosocial well-being and mental health are taken care of.

In the session titled “Isolated but not alone: Hindi ka nag-isa”, Dr. Lourdes Ladrido-Ignacio, a Professor Emeritus at the University of the Philippines, discussed

various concepts that were inclined towards mental health and said that social and spiritual needs ought to be fulfilled to have a healthy life.

Well-being

Following the talk, an activity called “Ginhawa: Well-being in Everyday Life,” which was led by Dr. Henrietta Espanola, an Associate Professor at the West Visayas State University, was conducted to focus on finding silence through Zen meditation.

All of the participants were advised to assume the proper posture and perform relaxation and breathing techniques as they were encouraged to lend time for themselves to meditate or find peace as part of their break time and to take care of their mental health amidst the challenges the Department is facing because of the pandemic.

The previous sessions covered various topics and activities such as understanding the different dimensions of psychosocial well-being, how to achieve kaginhawaan (wellness) in one’s daily life and its relationship with the core essentials of leadership, Zen meditation, self-care techniques, application of arts-based coping strategies, and other concepts related to psychosocial recovery, resilience, and wellness.

The Kaginhawaan sessions for the top leaders of DepEd sessions is part of the Mental Health and Psychological Support Services (MHPSS) initiatives of the DepEd.

D.O.H. Launches Teledentistry Consultations in Region 4A S tressing the need to maintain good oral health for a person’s overall health, the Department of Health (DOH)-Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) began conducting online oral health consultations and referral services through the “O-HI DOC” Project.

Regional Director Eduardo C. Janairo said that O-HI DOC is an online dental consultation to reach out and to provide health service to the community. It is also a way of scheduling dental visits in Rural Health Units (RHU) with the use of the telemedicine platform.

“This is in response to the Covid-19 pandemic in order for us to reach our clients and

provide the necessary oral health services to the communities in the provinces, especially those in the geographically isolated and disadvantaged areas and indigenous communities,” Janairo said.

The “O-HI-DOC” stands for Oral Health Initiative for Dental Online Consultation. Every RHU in the various municipalities will have an “O-HI DOC” unit that will be connected to the regional online referral system.

Oral health consultation

The DOH-Calabarzon Oral Health Unit will conduct the teledentistry DOH launches tele-

dentistry project in Region IVA and provide oral health consultation to residents of the region, especially those living in far-flung communities.

According to Regional Oral Health Outcome Manager Dr. Edwina J. Go, all patients seeking consultation must register and follow the simple steps provided to avail of the service. “First, go to our Facebook page which is www.facebook. com/oralhealthcalabarzon and click on the “Book Now” button.”

The regional dentist on duty will then check the patient’s application as to what province he/ she is from. The regional dentist will then contact

the dentist at the provincial office who will refer the patient to the municipal dentist where he/ she resides and will be the one to contact patient for the scheduled consultation.”

“If there are no dentists on duty, we will conduct the consultation at the regional level.

Consultations will be done in real time through live video with the patient. In case the patient needs immediate special care or surgery the dentists on duty will refer the patient immediately to the nearest hospital,” she added.

Meaningful ways

As of September 17, 2020, a total of 43 pa-

tients have registered online, 17 were given referrals, two have inquired and 24 have yet to reply.

“There are meaningful ways to do things and serve with the people’s interest in mind.

Even if we are consumed with the COVID-19 pandemic, we must never stop. We must not forget our health concerns and responsibilities to our people,” Janairo pointed out.

The “O-HI DOC” Teledentistry Project is a collaboration of the Regional Oral Health Team and Health Accessibility Innovation and Development Unit (HAIDU).

Claudeth Mocon-Ciriaco

New drug for chronic kidney disease promising Taiwanese beauty products’ New treatment option growth potential unmasked A new drug aimed at reducing cardiovascular or renal death and the risk of kidney failure in patients with chronic kidney disease with or without type 2 diabetes is showing promise.

Detailed resuts form the groundbreaking Phase III DAPA-CKD trial showed that AstraZeneca’s Dapagliflozin, on top of standard of care, reduced the composite measure of worsening of renal function or risk of cardiovascular (CV) or renal death by 39 pecent compared to placebo in patients with chronic kidney disease (CKD) Stages 2-4 and elevated urinary albumin excretion.

The results were consistent in patients both with and without type-2 diabetes (T2D). Dapagliflozin is the 1st and only diabetes medication under the class of SGLT2 inhibitors to meet all primary and secondary endpoints including death from any cause by 31 percent compared to placebo. A 34 percent relative risk reduction is seen in the exploratory composite outcome of chronic dialysis, kidney transplantation or renal death.

Consistent

The safety and tolerability of Dapagliflozin were

consistent with its well-established safety profile.

In the trial, patients treated with Dapagliflozin experienced fewer serious adverse events compared to placebo.

One of the investigators in the Philippines, Dr. Romina Danguilan quoted: “The long awaited results of the DAPA CKD study bring to light Dapagliflozin as a new and effective treatment for chronic kidney disease that would save more patient lives.” CKD is a serious, progressive condition defined by decreased kidney function affecting nearly 700 million people worldwide, many of them still undiagnosed, and the most common causes are diabetes, hypertension and glomerulonephritis.

The co-chairs of the DAPA-CKD trial and its Executive Committee Professor David Wheeler, University College London, UK and Professor Hiddo L. Heerspink, University Medical Center Groningen, the Netherlands, said: “The impressive DAPA-CKD trial results are a remarkable development for patients with chronic kidney disease. These data have the potential to transform the standard of care for this patient population, which has a significant unmet need for new and improved treatment options.”

Co-author and primary investigator of DAPACKD trial in the Philippines, Dr. Rey Isidto shared: “The much anticipated results of DAPA-CKD highlights Dapagliflozin as a new treatment option for CKD patients, showing mortality benefit which ultimately allows our patients to live longer, delay their dialysis or transplant and have a better quality of life.

Mene Pangalos, executive vice president, BioPharmaceuticals R&D, said: “With today’s results, Dapagliflozin becomes the first SGLT2 inhibitor proven to significantly prolong the survival of patients with chronic kidney disease with and without type-2 diabetes and we look forward to sharing these data with regulatory authorities around the world. Dapagliflozin is also the first medicine in its class to demonstrate benefit in treating both heart failure and chronic kidney disease in patients with and without type-2 diabetes, and reduce the risk of hospitalization for heart failure and nephropathy in type-2 diabetes.”

In the Philippines, Dapagliflozin is currently indicated only as an adjunct to diet and exercise to improve glycemic control in patients with type 2 diabetes mellitus.

SM provides relief goods to transport groups, communities The SM Foundation Inc. (SMFI) distributed 58,100 Kalinga packs worth P26.5 million to transport groups and communities across the country through its Operation Tulong Express (OPTE) program. The distribution of Kalinga packs, each containing rice and other food essentials, aims to relieve the plight of those whose livelihoods came to a grinding halt due to the Covid-19 pandemic.

Through OPTE, 144 jeepney transport groups, 61 UV express transport groups, 94 tricycle transport groups, and 46 communities/ barangays received Kalinga packs.

By Roderick L. Abad

VEN in these difficult times, there’s no stopping Filipinos and their Southeast Asian neighbors from maintaining or enhancing further their physical looks while keeping or boosting their health and well-being.

This holds true as the beauty industry continues to demonstrate great business potential while the global retail industry is experiencing difficulties caused by the raging coronavirus disease 2019 (Covid-19) pandemic.

“The market was worth $298 billion in 2018 and will exhibit a compounded annual growth rate of 5.1 percent during the forecast period,” said Walter M. S. Yeh, President and Chief Executive Officer of Taiwan External Trade Development Council (Taitra). Dr. Grace Liao Yuan Li, an expert in the skin-care product industry, added that the global beauty products market is the fifth largest consumer sector, with the Southeast Asian market, including the Philippines, having the highest growth rates worldwide.

technology brand, demonstrated how its products can fit the zero-contact demands.

Its latest virtual try-on solution detects face masks, allowing users to try on products without taking their masks off.

Perfect Corp. has also upgraded their artificial intelligence and augmented reality technologies by supporting voice activation and gesture control, where everything can be zero-touch and absolutely safe to consumers.

It helps beauty brands get away from the waves of the pandemic impact and even possibly earn 2.5 percent up to 38 percent hike in sales conversion rates.Shaan Honq’s products, on the other hand, help consumers protect their hair from ultraviolet rays and heat. These are widely used by Hollywood celebrities.

Meanwhile, O’right announced its new toothpaste was awarded with the 100 percent United States Department of Agriculture biobased certificate. Its products also support the sustainable development of the environment.

Digital transformation

Jelly masks

E

While most consumers in the region still prefer to shop through traditional channels, beauty brands have been driven to undergo a digital transformation to overcome the Covid-19 crisis.

This was shown in a webinar dubbed “Taiwan Excellence Smart Medical Express—Beauty and the Masks” jointly organized by Taitra and the Bureau of Foreign Trade, Ministry of Economic Affairs.

Five Taiwan Excellence Award winners from the cosmetics industry in Taiwan demonstrated their most innovative products in this online event that gathered prospective buyers and distributors, as well as media organizations from the Philippines and other Southeast Asian nations.

Zero contact

During the online forum, Perfect Corp., a beauty

Shinybrand launched its brand Mirae and a line of daily skin-care products, where the brand partnered with renowned skin-care teams in South Korea.

Annie’s Way offers nine different jelly mask variants and provides a whole new different experience for skin care.

How brands passed global standards and Halal or BPOM (Badan Pengawas Obat dan Makanan or the Indonesian Food and Drug Administration) certifications, which are essential for entering Southeast Asian markets, was also discussed during the event.

The 90-minute webinar attracted more than 3,000 views online from countries such as the Philippines, Malaysia, India, Indonesia, Singapore and Thailand.

B4

Thursday, September 24, 2020 • Editor: Gerard S. Ramos

Show BusinessMirror

www.businessmirror.com.ph

After 32 years, a film comes home THE award-winning documentary A Rustling of the Leaves: Inside the Philippine Revolution can be seen in Daang Dokyu, the country’s first documentary festival of its kind.

Today’s Horoscope

By Eugenia Last

z

CELEBRITIES BORN ON THIS DAY: Spencer Treat Clark, 33; Erin Chambers, 41; Nia Vardalos, 58; Kevin Sorbo, 62.

Happy Birthday: Put your house in order. Take care of situations that are slowing you down. Make changes that will encourage greater financial growth. Pay more attention to what’s going on around you and how well you take care of your health and well-being. Rethink your strategy, and make adjustments that will counter unsavory situations. Don’t get angry; get moving. Your numbers are 6, 19, 23, 29, 31, 37, 45.

a

ARIES (March 21-April 19): Expect limitations if you fall behind with work responsibilities. A change to the way you do things will help you cut corners. Getting into an argument will work against you. Take pride in what you do, and avoid criticism.

HHH

I

T was in 1988 when a film was completed and released. The dictator had left the country; a new president had been sworn in.

The word “people,” for the first time, became a modifier as it was attached to “power.” People Power coined meant the people were the power and not the traditionally insular concept of people possessing the power. There was euphoria all over the land.

But something was amiss. There was trouble in the air: politicians in power either ignored the discord or were ignorant about it. There was a new idol—this soft-spoken widow whose gender was the target of traditional and male-ordained politics.

The “rustling of the leaves” would not stop, as the title of this documentary about those days preceding the days of the end of the dictator and the beginning of what many Filipinos then thought of as auguring of the new day.

The documentary is called A Rustling of the Leaves: Inside the Philippine Revolution. Ominous is its homecoming as the opening film for Daang Dokyu, the country’s first documentary festival of its kind.

Immediately, one realizes what the festival proposes: a presentation of truths as captured by a film medium whose core is reality as compared to the celebrated artifice of even the most realistic of feature films.

Immediately, we confront the “revolution” in the title of the piece? Shall this include the Edsa Revolution? If it does not, what is truth in those four days of uprising, which was co-opted as a miracle?

The documentary directed by acclaimed Canadian documentarian Nettie Wild is definitely not about the four-day miracle crusade on that highway in Metro Manila. It is about a different kind of revolution, the kind that involved the masses in the countryside.

It is about the crisis faced by peasants and laborers, the general population unseen and unrecorded.

Misunderstood and easily misquoted, the people up on the hills, in the forests or blending with their sympathizers are the great outsiders. No media can reach them except documentaries that are immersive and participatory.

Herein lies the most exciting part of the documentary: Does Nettie Wild condone or condemn the movement? Is she a sympathizer? Is she one of them?

Here is the good part of the experience. The fact that a documentary was made in those days spoke of the greater ease with which these filmmakers were able to enter towns and villages and made their way into the camps of the New People’s Army.

Will a documentarian be able to do that now in the present administration?

According to Wild, there were many things that the mainstream media did not cover in those days.

One goes back to the social history of the period and would remember what the Cory Administration called the “democratic space.”

The film tracks the lives of Kumander Dante, founder of the New People’s Army, and Fr. Ed de la Torre, a radical priest. We meet also in this work Fr. Frank Navarro, a priest who works among the

b

TAURUS (April 20-May 20): Subtly alter the way you work with your colleagues, and it will make it easier for you to bring about the changes you want to make. Don’t take on something that will cost you physically, emotionally or financially.

HHHHH

c

GEMINI (May 21-June 20): Work diligently on your own until you are happy with the results you achieve. Personal satisfaction will lift your spirits and give you the confidence you need to pursue your personal and professional goals. Romance is in the stars. HHH

d

CANCER (June 21-July 22): Stay calm, do whatever is necessary and avoid getting into a spat with someone who doesn’t share your opinions. Be imaginative and show interest in what others do, but don’t leave yourself open for criticism.

Practice moderation. HHH

e

LEO (July 23-Aug. 22): Be a leader, do your own thing and finish what you start. A personal change will encourage you to take on more responsibility. Before you make unrealistic promises, consider the time and cost involved.

Romance and home improvements are favored. HHH

f

VIRGO (Aug. 23-Sept. 22): Mix things up a bit. A change will be energizing and encourage you to try new things. Using social media, you will discover groups that share your concerns and interests. Think before you speak; an impulsive response will lead to trouble. HHHHH

“rebels;” Jun Pala, a radio announcer who serves as the voice of the growing “anti-communist crusade” in Davao; and a young lieutenant, Ronald de la Rosa, the same man who is now a senator.

There is nostalgia seeing Burgos, Tadeo, Nelia Sancho and other luminaries of the labor and workers’ front running for the senate. These were personalities who worked for the masses and who knew the struggle that mainstream society then and now could only question.

Then there are the footages of young women who are part of the revolutionary court deciding on the fate of a young man whose treachery against the movement merits him a death sentence. There is no hysteria in that scene, only this detached assessment of case. There is also no sentimentality when one dies quickly in the forest.

Where did our memory go? Here we see the footage of Cory Aquino flying out to Davao to express an official support to Alsa Masa, one of the vigilante groups supported by the government then trying to stop the rise of “communism.”

“Better late than never” is a strange phrase to use in a documentary, but this is exactly the feeling one gets from this homing report of years gone by. Is it late to get a sense of what we are in now after viewing this film? The film vividly captures that age: Enrile is embraced by the new government and Ramos becomes the poster boy of the “new democracy.” In those turn of events can be explained the fate of the nation whose leaders ignored the signs and omen of what will be happening soon—the return of the dictator and his memories in the guise of a preserved corpse, the ascendancy of the right, the preparation of

the horizon for the governments that will follow the unexplained revolution, the decay of what would have been the gilding of a nation.

There is poignancy in the narrative of this documentary that still resonates now—how a nation can ignore the rustling of the leaves, its big men and women opting always for the comfort of the status quo and the assurance of a monolithic and monumental sense of class identity.

It is the irony of the People Power Revolution that after some years, the “People” were banished and only the “Power” has been retained.

A sense of the tragic and the triumphant attended the screening of The Rustling of the Leaves: Inside the Philippine Revolution on the day observing the declaration of Martial Law so that we would not forget the Martial Law years. The film, which won the People’s Choice Award at the 1989 Berlin International Film Festival and given the Prix du Public award on the 50th anniversary of the National Film Board of Canada, is a tribute to truth as Daang Dokyu opens its celebration of the arts of documentary and the realness of veritas.

A Rustling of Leaves: Inside the Philippine Revolution will have a re-run from October 9 to 15 as part of Daang Dokyu’s festival proper. The documentary was produced in association with the UK’s Channel 4 with the participation of Telefilm Canada, and with the further assistance from the National Film Board of Canada and the Canada Council (Media Arts and Explorations Program.) Music is provided

by Joey Ayala, The Hotdogs, Salvador Ferreras, Rob Porter, David Byrne and the Talking Heads, and the Bee Gees. n

g

LIBRA (Sept. 23-Oct. 22): Process what’s going on around you. Refuse to let what others do slow you down. Offer suggestions, but don’t take on responsibilities that don’t belong to you. Choose peace and love over discord. HH

h

SCORPIO (Oct. 23-Nov. 21): Change can be useful as long as everyone affected benefits equally. Listen to complaints, make adjustments and do your best to keep the peace. Put a personal vendetta behind you. Hanging on to the past will make you bitter and hold you back. HHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Avoid unnecessary purchases, and handle shared costs reasonably. Balance and structure will help you counter indulgent behavior. Concentrate on learning, fitness and self-improvement. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Alter the space you live in to suit your current needs. The change will be refreshing and lend itself to creative flow and the ability to overcome any discord you face. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Put more thought and action into your pursuits.

Refuse to get caught up in someone’s plans.

Concentrate on what’s important to you, and you will overcome the pressure and demands you face.

Personal improvements and romance are favored. HHH

l

PISCES (Feb. 19-March 20): Help others without fuss, and the rewards will be worthwhile. A change regarding how others perceive you will depend on what you are willing to do and how well you manage situations that require insight and mediation. HHHH Birthday Baby: You are articulate, sophisticated and active.

You are sensitive and feisty.

‘long division’ by david alfred bywaters The Universal Crossword/Edited by David Steinberg

ACROSS 1 Simple dwellings 5 Objective 9 Basil sauce 14 Gumbo thickener 15 Quick to snap, say 16 States with confidence 17 Hospital wing for a plutocrat?

19 Amassed, as expenses 20 Studio supporters?

21 “Your majesty” 23 Leb. neighbor 24 Shakespeare’s “For shame!”

25 Data upload letters 27 Message from a scammer?

29 Tar Heels’ sch.

30 Theater class assignment?

32 Tempestuous 33 Leave alone 35 Center of rotation 37 Does something with 38 Marketers’ word choice?

41 Like a wafer 44 A person’s 45 Poem by David

49 Is inadequate 51 Casual stride 53 Prefix suggesting revival 54 Refuses to settle?

56 Convent figure 57 Letter before upsilon 58 Fuel additive brand 59 Wiener schnitzel ingredient 61 Becomes fit to eat 63 Aboriginal Bahamian people (hidden in “mountainous”) 65 Hair condition that explains how the starred answers break up?

67 “Snowy” waterbird 68 Barriers to cooperation 69 Bendable leg part 70 Marsh plants 71 Grains in most breads?

72 Organs with canals DOWN 1 Optimistic 2 Largest country that’s fully in Europe 3 Divide into thirds 4 Rescue 5 Reaches

6 Certain 8-Down poem 7 Gets older 8 Emotional poetic genre 9 Ewe or ram, for a lamb 10 Actress Longoria 11 Next year’s alumni, often 12 “I’m not kidding!”

13 Large, fish-eating birds 18 Nobel who established the Nobel Prize 22 Martini & ___ 26 Unadorned 28 Objects in English class?

31 Do wonderfully 34 Xhosa and Zulu’s language group 36 “Let’s fight!”

39 Lorna ___ 40 Impatient cry on Christmas morning 41 Tornado 42 A diplomat may negotiate one’s release 43 Give ideas to 46 Projecting insect part 47 He loved Hero 48 Styles with foam

50 Golfer’s gouges 52 Strict grammarian 55 Neon and argon 60 Women’s links org.

62 Toy from China, briefly?

64 Nickname for Edward 66 Texter’s reaction to a joke

Solution to yesterday’s puzzle:

www.businessmirror.com.ph

Parentlife BusinessMirror

Editor: Gerard S. Ramos

• Thursday, September 24, 2020

B5

Boost your daily health rituals with nature’s super healers

Clockwise: Karl Dehesa at his 6th Grade Travel Team winning third place; Dehesa proudly representing our country at the 2016 Fiba World Cup; Coach Karl with wife Krystle and their two kids, Noa and Naaz; Marcus proudly wearing his ALIGN uniform as he practices Coach Karl’s digital basketball homework; Meagan and Marcus with Coach Karl onscreen right after their ALIGN online class.

Let’s go: Sports ‘kidspirations’ (Part II)

L

AST week, I shared how grateful I am about the role coaches have played in my kids’ lives. I remember how my daughter’s first basketball coach, Paolo Rivero, pushed her with tough conditioning exercises even if she was then only 10 years old. I remember how their Coach Lucio, who accompanied them in foreign competitions for fencing, gave Meagan a four-hour pep talk after she gave in to her frustration and temper during a tournament in Thailand. She even told me that, that talk made a lot of difference, not just in her future games but also in her overall maturity in school.

This week, let me spotlight on my son’s “idolcoach,” Karl Matthew Dehesa. He is a FilipinoAmerican professional basketball player who founded ALIGN Worldwide.

Coach “KD” was born and raised in Long Beach, California. He played for St. Anthony High School, and earned the All CIF First Team Honors during his junior and senior years. Thereafter, he attended Waldorf University in Iowa on a basketball scholarship, where he averaged 16PPG and was awarded 1st Team All-Conference in the Midwest Collegiate Conference during his Senior Season.

Coach KD’s professional career began in 2011, when he moved to Manila. He played for the 3-Peat Champions, NLEX Road Warriors, in the PBA

D-League. He was the Asian Heritage Import for the Saigon Heat of the ABL, and played 4 seasons in the PBA for Kia Carnival, Globalport Batang Pier, and Phoenix Fuelmasters. One of the highlights of his career was representing the Philippines in the 2016 3x3 World Cup held in Guangzhou, China. He currently plays for Chooks to Go Philippines 3x3 National Team, which has given him the opportunity to play in various countries such as Qatar, Romania, Russia, Korea and China.

Below are excerpts from our interview that I hope would inspire young athletes and their families: When did you start having an interest in basketball? Who were your inspirations?

I grew an interest in basketball at a young age. My dad didn’t allow us to watch TV during school nights but the one thing we were allowed to watch were the Laker games. My brother and I would play 1-on-1 everyday and mimic Kobe’s moves in front of our house, and the games got so competitive they would always end up in a fight.

What do you like most about the game and your craft? Please explain the 3x3 to our young athletes.

What I love about what I do is that I am able to travel and compete against the top 3x3 players in the world. Experiencing different cultures and foods, and connecting with different people while playing a game that I’ve loved since I was a kid have been an eye-opening experience.

As a coach I love teaching and motivating. The feeling when something clicks in the player after you have been teaching them a specific skill is, I think, what all coaches love and find gratification in. As coaches, we want to bring a positive impact into these young athletes lives.

The 3x3 game is beautiful, it’s so raw and pure

that it gives me that nostalgic feeling of when I was younger and just playing with my friends at the local park or gym. The environment, the pace, the rhythm, the intensity and physicality are what makes the game unique from 5v5. I’m proud to be one of the pioneers of this sport in the Philippines, and happy that more opportunities to play have been created for the future generation of basketball stars. 3x3 has grown since I had my first taste in 2015. It’s an official Olympic sport in the 2021 Tokyo Games, so the opportunity for growth in this sport is on the rise.

What is your advice for young athletes and their parents?

What I can advise parents is to expose your kids to all kinds of sports and activities at an early age.

Specialization in one sport at an early age can be detrimental to their development, and studies show this can cause burnout and injuries. Keeping the game fun and establishing their love and passion for the sport is the priority. At the end of the day, the best way to be the best at your craft is to love it.

For young athletes today my advice would be to find joy in what you do. Never take a half step. Go full force and push pass limitations. You’ll be surprised what lies ahead when you push yourself outside your comfort zone.

ALIGN Worldwide is a global basketball training service. It aims to enrich and enhance basketball players by teaching them valuable skills of goal setting, pushing pass their limitations, and instilling self-belief and confidence.

Players from the US, Canada, Saudi Arabia, Qatar, and the UAE, as well as Philippines are members of the ALIGN program. Both Meagan and Marcus attend the 10-week ALIGN Handle Course. ALIGN also arranges special classes with coaches from around the globe. More information is available at www. alignworldwide.com. n

STAYING at home and adjusting to the new normal over the past several months has led many of us to incorporate selfcare practices, as a way to recharge mentally, emotionally and even physically. Simple things, like breathing exercises or eating clean and healthy, can give us a much-needed and well-deserved boost. Because of the times, giving yourself some love and attention should actually become more than just a daily reminder on your phone, but a ritual—a time you hold sacred for yourself.

Giving you a supercharged boost for your daily health rituals, locally blended juice drinks Locally Superfruits are packed with antioxidants, fiber, vitamins and minerals and other nutrients. Using fruits sourced from farms around the country, the three flavors—Passiontastic, Mangosteencredible and Wondragonful—give you everything you need from nature’s superhealers. n A sugar-buster proudly grown in Quezon, passion fruit improves insulin sensitivity and helps regulate blood sugar levels. One glass of Locally Passiontastic is loaded with potassium for heart health, fiber for digestion and vitamin C for immunity. n Known as the queen of fruits, mangosteen is famously used as natural medicine in different parts of Southeast Asia. Rich in a powerful cardio-protective antioxidant called xanthones, Locally Mangosteencredible, which sources its main ingredient from Davao, can help boost heart health and immunity, decrease inflammation and even fight cancer. n Nature’s wonder detox, dragon fruit is known to enhance digestion and nourish growth of healthy bacteria in the gut. Using dragon fruit sourced from farms in Baler, Nueva Ecija and Isabela, Locally Wondragonfruit is rich in antioxidants, which can help prevent conditions like gout and arthritis.

Keeping yourself a supercharged boost has never been easier with these super-healthy drinks now available in 1-liter bottles.

A healthier choice for a quick flavorful snack.

Healthy can now be yummy

STAYING healthy and maintaining overall well-being is ideal for everyone. But keeping a good diet and lifestyle, and resisting sweet cravings can be hard.

There is no need to resist cravings anymore as Universal Robina Corp. offers Nice & Natural, a healthy nut bar that’s enjoyable to eat. Give in to the delicious combination of natural ingredients such as nuts, whole grain oats and fruit bits, all drizzled with chocolate.

Now available in Choco Almond Crunch and Mixed Berry Crunch flavors, this delicious treat contains protein, and is a good source of fiber. So, whether one is taking a break from work or looking for a convenient tummy-filling snack, Nice & Natural nut bars can be one’s go-to snack—an ideal treat that’s healthy, enjoyable and guilt-free.

Why sign language is vital for all deaf babies, regardless of cochlear implant plans

By Kimberly A. Wolbers University of Tennessee WHEN their newborn failed a hearing test, Quinn and Kai were distraught. Their pediatrician reassured them their baby was a candidate for a cochlear implant—an electronic device consisting of an external part worn behind the ear and an internal part surgically placed under the skin—that could partially restore hearing through electrical stimulation of the auditory nerve.

“We were told Casey would go to a mainstream school and learn to hear and talk just like any other kid,” Quinn told us. “The doctors said to speak to him as if he were hearing and not to learn sign language, because it would inhibit his spoken language development.” A few years later, Casey could speak some words but fell short of language milestones.

Quinn and Kai’s story is one that is all too familiar to parents of deaf children.

As researchers of language and literacy in deaf education, we regularly see implanted deaf children like Casey arrive at school with limited language and reasoning skills.

September is International Deaf Awareness

Month. We want to debunk common misconceptions that can—and often do—harm deaf children. n Cochlear implant ‘success.’ Cochlear implants are not a proven substitute for natural hearing. After surgery, children must undergo ongoing, intensive therapy to train the brain to make meaning of the sound it hears. Implant users’ understanding of speech is highly variable and declines substantially when talking or other environmental noise is present.

Research shows cochlear implant success is uneven. Although children implanted at younger ages have higher speech and language scores than those implanted at older ages, the majority still perform “below” to “well below” average. n Sign language and speech development. It is a misconception that learning sign language hinders spoken language development for implanted children.

Research shows the opposite to be true. Deaf children of deaf parents, whose first language is sign language, end up having better spoken language skills once they are implanted than deaf children of hearing parents who did not learn sign language.

Research also shows a relationship between sign language and spoken English in school-aged children with cochlear implants: The children who

scored highly in sign language were the same ones who scored highly in English. And the children with weak sign language skills also struggled with spoken English.

In fact, sign language is so good for the developing brain that some hearing parents teach it to their hearing children to boost brain development and jump-start communication before speech. n The window of opportunity for language development. The idea that sign language can be introduced later, if a cochlear implant is not successful, ignores the basic facts of language development. In the first years of life, children absorb language like sponges, as long as social interactions are accessible. The longer a child waits for meaningful language input, the greater the risk of never fully acquiring language. The first five years are a critical period for acquisition.

Research shows that deaf children exposed to sign language later—after unsuccessfully developing spoken language—demonstrate rapid word learning but stop short of attaining complex grammatical structures. The long-term implications of language deprivation are quite serious. A wide range of adverse childhood experiences are known to be

associated with adult disease and health problems.

Communication exclusion and neglect experienced by deaf children create toxic stress that can trigger physiological and psychological responses. n Audism in the medical community. Just as racism is at the root of structural inequalities toward Black, Indigenous and other people of color, audism is institutionalized discrimination against deaf people.

The medical community is steeped in hearing-at-allcosts attitudes and beliefs that can lead to language deprivation in deaf children. n The way forward. We believe the medical community must be educated about deaf children’s need for sign language education.

Families can learn sign language along with their babies. It takes two years to acquire conversational skills and five to seven years to develop language fluency, which perfectly matches a child’s language development timeline. Free services are available to families, including home visits, sign language classes and deaf mentorship.

The catastrophe of language deprivation is entirely preventable with early sign language exposure. Lack of awareness is all that stands in the way.

THE CONVERSATION

B6 Thursday, September 24, 2020

‘Our work knows no bounds’ SM scholars at Boystown and Girlstown graduate

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UST like what we provide our OFWs, we also look after the welfare of the stranded students from Solomon Islands. The Philippine Red Cross provided them a place to stay, food and transportation, and tested all of them for COVID-19. Recently, their Prime Minister Hon. Manasseh Sogavare expressed his gratitude to the PRC for taking good care of their citizens. "In this trying times, let us be a source of hope to those who are hopeless.

Only then we can achieve," Solomon Island Prime Minister Manasseh Sogavare, MP, in

AXL Rose Villanueva

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RADUATION ceremonies of senior high school were held recently in the campuses of The Sisters of Mary Schools. Students of the schools come from indigent families.

Applicants go through a screening process that consists of a written examination and interview. Despite being administered by a Catholic congregation, the Sisters of Mary Banneux, non-Catholic applicants are also accepted if they qualify. The Fr. Al’s Children Foundation, Inc. was established to accept donations and gifts from generous individuals and private institutions to fund the schools.

Funding of scholars are from sponsors, among them, Providential Foundation, LRP Foundation, ANCOP, GT Foundation and Artesin, an Electronics company where their students go on the job-training (OJT).

SM Foundation is among these entities extending assistance through its scholarship program and donation

ALEXIS Kyle Tagle

of equipment needed by the schools. In 2016, 20 students were sponsored at the Girlstown in Biga campus with 20 more as personal scholars of the Sy family.

From that time on, the number of SM scholars in the four campuses of The Sisters of Mary Schools has increased with 1,150 scholars in Boystown; and 2,746 in Girlstown.

Aside from the secondary education academic curriculum, the students at The Sisters of Mary Schools are also given the vocational-technical curriculum. From Grades 11- 12, they go on OJT for 5-6 months in partner companies.

This year’s batch though had limited job immersion because of the COVID-19 pandemic.

Axl Rose A. Villanueva, one of the SM Foundation scholar graduates in the Adlas campus who pursued Automotive Servicing NC I, Technical Drafting NC II, Electrical Installation and Maintenance NC II and Mechatronics Servicing.

JOANNE Salazar

While Joanne D. Salazar applied at the St. Augustine Church in Coron, Palawan chose Technical Drafting NCII, Call Center Services and Computer Programming. She also had her OJT inside the school campus.

Alexis Kyle P. Tagle chose Bread and Pastry Production and Bookkeeping. On her 12th year, she obtained a National Certificate in Mechatronics Servicing.

These young ladies plan to pursue further studies while working as student teachers in their alma mater thus saving for their college education.

The National Certificates they obtained certainly improve their employability in tech-voc fields.

The Sisters of Mary Schools was founded by Msgr. Aloysius Schwartz who also established the Sisters of Mary Banneux congregation in 1964. The school officially started its operation in the Philippines in 1985 with a convent in Sta. Mesa, Manila.

BTS Pinoy fans, Rotaract, scouts group and Mayani team up to support displaced drivers and farmers

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HAT happens when legions of Filipino fans of BTS, now the world’s most popular K-Pop boy band, unite towards a community cause? A lot.

On September 20, almost 2 metric tonnes of rice and kamote were donated to the jeepney and tricycle drivers of Balic-Balic in Sampaloc, Manila. This is part of the “Support Farmers, Help Jeepney Drivers” umbrella project, a series of parallel multi-stakeholder initiatives brought together by the Philippine fandom BTS ARMY, Rotaract Club of Tugon-Rescue, Patches4Piston, and Mayani, a rapidly-growing farm-totable digital platform.

“In honor of BTS members RM’s and Jungkook’s birthdays, we launched this drive to aid our jeepney drivers who stopped operating due to the pandemic,” said Levyl Alcala, the Project Head. “Farmers were also negatively affected so when we spoke with Mayani, we raised the possibility of coming up with a solution with the BTS ARMY community.”

ARMY stands for Adorable Representative M.C. for Youth, a global network of millions of fiercely loyal fans of BTS, the first Korean group that made it to the #1 of the Billboard Hot 100, on top of its more than 200 music awards worldwide. Last June, BTS donated $1

million to the racial justice movement Black Lives Matter, which has been matched by ARMY in less than 24 hours via the influential social media activism of its fans.

“What we are seeing here is a global movement that actually cares about specific social causes, and I am glad that BTS’ Philippine ARMY considered our Nueva Vizcaya and Cabanatuan farmers as a key impact sector of the project,” said JT Solis, the Co-Founder & Chief Executive Officer of Mayani, who negotiated and structured the unified fresh produce sourcing for the mega-project’s parallel runs until December 2020.

Under the banner initiative “Tugunan: Tsuper Helping Hands”, Rotaract Club of Tugon-Rescue led the repacking and delivery efforts to the target driver recipients in Sampaloc, Manila in collaboration with PLM College of Science Student Council, PLM Tugon Rescue, Rotary Club of Sampaloc, and Tsuper Helping Hands.

“Rotaract members believe that we always have a shared responsibility to take action on our society’s most persistent issues. For this endeavor, we aspire to help not only our jeepney drivers but also our farmers,” said Edwin Karl Basa, its Transformational President.

By next month, Patches4Piston, another initiative by volunteers of the Boy Scouts of the Philippines-National Capital Region, will also come to fruition by selling customized patches and then donating crops to drivers in Taguig, Marikina, and Quezon City.

At least 1 metric tonne of rice from Mayani is earmarked for it. Backing the scout volunteers are Rotaract STICollege Pasay-EDSA, Sangguniang Kabataan-Batasan Hills, Pagkakaisa ng mga Samahan ng Tsuper at Operation Nationwide (PISTON), PhilPatch, Hipajoda, and our Lady of the Holy Rosary Parish Youth Council.

his weekly address to the nation, thanked PRC Chairman and CEO Sen. Richard Gordon and PRC for looking after their students in the Philippines.

“Senator Gordon, when we started to lose hope, your commitment to serve and respond to the need of others has reinvigorated our strength and resolve to work with your organisation as a sincere and genuine partner to look after our students. Your organization has took the place of a family away from family, a home away from home.”

PCPPI named Sustainability Rising Star at ACES Awards 2020

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EPSI-COLA Products Philippines Inc. (PCPPI)—the exclusive manufacturer of PepsiCo beverages and snacks in the Philippines—was hailed as the Sustainability Rising Star during the recently concluded Asia Corporate Excellence & Sustainability (ACES) Awards 2020 held in Kuala Lumpur, Malaysia.

The Sustainability Rising Star Award is presented to organizations that create new pathways and pilot a change of course through grassroot sustainable initiatives.

The winner demonstrates commitment to sustainable development by implementing diverse solutions to sustainability challenges faced in their settings.

PCPPI is among the highly qualified and deserving participants selected as winners by the jury members of ACES, headed by ACES’ Chairman of Panel of Jury, Hemant K. Batra. Batra is the founder and chairman of Kaden Borris, a global alliance of full-service law firms and legal enterprises; and the vice president of South Asian Association for Regional Cooperation in Law (SAARCLAW).

“We are honored to have been recognized as a sustainable company, a good news amid the pandemic. Over the years, PCPPI has always been relentless and committed to create a positive impact on society with programs focused on environmental sustainability, nation-building, and inclusive development,” said PCPPI president and CEO Frederick D. Ong. PCPPI’s sustainability agenda is driven by the “Sustainability Play” framework, which was created in 2018 in response to the global effort towards achieving the United Nations Sustainable Development Goals (UNSDGs). The Framework consists of three key sustainability pillars which are Water Stewardship, Circular Economy, and Inclusive Business, and are led by a three-pronged “Engage, Transform, and Lead” strategy.

PCPPI’s Corporate Social Responsibility (CSR) programs are in line with the company’s sustainability framework. One fine example is the Water for Peace in Marawi, whereby PCPPI teamed up with the Philippine Disaster Resilience Foundation (PDRF) to provide

clean water to the Internally Displaced People (IDP) of Marawi.

This helps PCPPI in creating a healthy and sustainable ecosystem that nurtures the business and its employees, as well as the communities upon which the company built its success, and the environment that provides resources needed for businesses to thrive.

One of the flagship programs of PCPPI’s sustainability efforts is Luntiang Yaman, which is an initiative to reduce water use, optimize electricity use, optimization of fuel yield, solid waste management, and community-building participation.

Through years of developing Returnable Glass Bottles, PCPPI has optimized packaging by reducing the materials in other containers apart from glass bottles by making them lighter, successfully diverting tons of solid waste from landfills. Since the implementation of the program, PCPPI has successfully recycled 81% of in-plant solid waste, putting them right on track to reach their 85% goal by 2020.

Since its inauguration in 2014, the ACES Awards has grown to become one of the most sought-after accolades in Asia. The Asia Corporate Excellence & Sustainability Awards recognizes Asia’s most renowned business leaders, corporations, and brands across two main domains; leadership and corporate social responsibility.

Gierran takes oath as PhilHealth chief

NEW PhilHealth chief Atty. Dante A. Gierran takes oath of office before Secretary of Health Francisco T. Duque III.

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TTY. Dante A. Gierran officially assumed leadership of the Philippine Health Insurance Corporation (PhilHealth) after Department of Health (DOH) Sec. Francisco T. Duque III swore him in via a simple ceremony held online on September 17.

Gierran replaced retired Army General Ricardo C. Morales who resigned on August 26, 2020 due to his health condition.

Gierran thanked Duque for his support to

the National Health Insurance Program and vowed to regain the people’s trust in PhilHealth through effective public service devoid of fraud and corruption.

Prior to assuming the helm at the country’s state health insurance agency, Gierran retired from the service on February 2020 after serving the National Bureau of Investigation for 29 years, the last four of which as the Bureau’s chief.

Envoys&Expats BusinessMirror

www.businessmirror.com.ph

Thursday, September 24, 2020

SFA Locsin bats for robust counterterrorism links in Asean

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N the 27th Asean Regional Forum (ARF), Secretary of Foreign Affairs (SFA) Teodoro L. Locsin Jr. called for continuous cooperation to fight terrorism.

The country’s top diplomat expressed gratitude for the expressions of support the Philippines received in the wake of the Jolo bombings, as he reminded colleagues that “this kind of terrorism threatens everyone in the association.”

“It will be tempting to pass on the threat, but its very exportability makes this terrorism as easily importable as [the attacks that] happened in Marawi [City]. Nor is one country turning its back on another’s terrorist problem an option,” Locsin emphasized. “As terrorism grows in one, the threat of it increases in others.”

The ARF is an important and inclusive platform in the Asia-Pacific region for fostering constructive

dialogue and cooperation among participants on political and security issues of common interests and concerns, such as counterterrorism and cooperation against transnational crimes.

The SFA noted that while the whole world collectively deals with the pandemic, particularly in coming up with a vaccine for the disease, states cannot ignore political and security issues of common concern, including counterterrorism.

Locsin expressed gratitude to partners like the United States and Australia “for helping retake Marawi [City],” and called for continued regional cooperation, even as the Philippines strives to improve its own defense capabilities

Amb. Gerardo Lozano

A SECRETARY Teodoro L. Locsin Jr. (center) delivers his intervention at the 27th Asean Regional Forum. DFA

in dealing with terrorism.

Being the country coordinator for Asean-China Dialogue Relations, he said the Philippines will “push as hard as it can for the conclusion of an effective and substantive Code of Conduct in the South China Sea.” The Philippines hopes to make substantial headway on the second reading of the negotiating draft before turning over the co-chairmanship of the negotiations to Myanmar next year.

Ministers of participating countries also adopted the following

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Rotary Club of Japan sends face shields

ROTARY Club of Nagoya-Wago Chairman Tetsuzo Fukuda (left) and Nagoya Deputy Consul General Jerome Castro. DFA

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N an effort to contribute to the Philippines’s fight against the pandemic, the Rotary Club of Japan donated 144,000 face shields which were received by the Philippine Consulate General in Nagoya.

In a message to Deputy Consul General in Nagoya Jerome Castro, Rotary Club of Nagoya-Wago Chairman Tetsuzo Fukuda informed that the fully loaded 40-foot container is set to set sail for the Philippines in the third week of September from the Port of Nagoya.

For his part, Ambassador of the Philippines to Japan Jose Laurel V said the donation was sparked by the Rotary Club of Japan’s wish to contribute to the protection of the health of Filipinos during the pandemic through the auspices of Health Secretary Francisco T. Duque III and the Rotary Club of the Philippines, particularly the Rotary Club of Quezon City.

Laurel hailed the gesture as one more concrete expression of the brotherly ties between Filipinos and the Japanese, as both nations continue to battle the spread of the deadly virus. DFA

SECRETARY Locsin and Ambassador-Designate Shambhu S. Kumaran DFA

ogy. Particular emphasis was given to cooperation in health and pharmaceuticals, especially in addressing challenges brought about by the pandemic.

For his part, the SFA took the occasion to thank India for its support to the Philippine government

Celebrating Independence Day in the time of a pandemic

LA VOZ DE MÉXICO

documents and statements during the 27th ARF: 1) ARF Hanoi Plan of Action II (2020-2025); 2) ARF Statement on Enhancing Cooperation to Prevent and Respond to Infectious Disease Outbreaks; 3) ARF Statement on the Treatment of Children Recruited and Associated with Terrorist and Violent Extremist Groups; and 4) ARF Statement on Cooperation in the Field of Security of, and in the Use of Information and Communications Technologies in the Context of International Security. DFA

India’s ambassador-designate pays virtual courtesy call on SFA MBASSADOR-DESIGNATE of the Republic of India to the Philippines Shambhu S. Kumaran paid a virtual courtesy call on Secretary of Foreign Affairs (SFA) Teodoro L. Locsin Jr. on September 17.

Both took stock of the state of Philippine-Indian relations, as they acknowledged the high degree of engagement across all fronts, and the impetus generated by the state visit of Indian President Ram Nath Kovind last year.

The two diplomats reaffirmed their governments’ commitment to further boost overall ties and cooperation in the areas of security, trade and investment, agriculture as well as information and technol-

B7

and the Philippine Embassy in New Delhi in the repatriation of Filipinos from India. To date, more than 800 Filipinos have been repatriated, many of whom were accommodated in flights chartered by the Indian government.

Kumaran likewise expressed

appreciation to the Philippine government for the positive and timely facilitation of the repatriation of Indian nationals stranded locally through the Vande Bharat missions.

In 2019, the Philippines and India celebrated 70 years of diplomatic relations, which date back to November 16, 1949.

Foreign Affairs Assistant Secretary for Asian and Pacific Affairs Meynardo LB. Montealegre, Executive Director for Asian and Pacific Affairs Josel F. Ignacio and Director for South and Central Asia Anna Marie C. Santos joined Locsin during the virtual courtesy call.

The Indian envoy arrived in Manila on July 31 as a successor to Jaideep Mazumdar. DFA

S in previous years, our embassy in the Philippines celebrates México´s Independence Day this September—one of the most important onomastics in our country, traditionally accompanied by a special ceremony to commemorate the women and men who fought for our right to self-determination.

In 2020, the event will of course include the well-known Grito de Dolores, a reminiscence of the sermon pronounced in the early hours of September 16, 1810, by the priest Miguel Hidalgo y Costilla, as he called on the people to defend their freedom.

On this occasion however, unlike in the past, the “Fiesta Nacional” was held online, as we took advantage of technology in these times of the pandemic. Its occurrence has represented challenges for everyone, and diplomatic missions are no exception. Thus, the unprecedented circumstances required creativity and imagination from the embassies to maintain contact with Mexican communities while continuing to promote national cultural expressions.

Without a doubt, the use of social networks and virtual tools have taken on an unparalleled importance in these moments of worldwide quarantines. The Mexican Ministry of Foreign Affairs, aware of this reality, has developed a digital platform with the hashtag #DiplomaciaCulturalMX, which allowed us to continue our efforts to promote our culture, with a wide and diverse audiovisual, performing arts and literature offerings.

Magnifying messages

THE so-called new normal has required a certain degree of adaptation to the technological options available. It has brought new horizons of visibility by magnifying the scope of our messages and events. On September 15, the celebration by the Mexican Embassy

for the 210th anniversary of the National Independence was done live through Facebook not only with our countrymen’s community in the Philippines, but also by anyone else in the world.

At the same time, another activity, the screening of the medium-length films 1810 and Mujeres X on September 16, was opened to the general public, regardless of their places of residence. This also applied to the promotion of children’s coloring materials, with Mexican motifs, which was shared online and could be downloaded anywhere, for the enjoyment of kids and their families.

The wreath-laying ceremony in the México Monument at Plaza Hidalgo in the City of Manila on September 16 was also an experience that was streamed online.

Perhaps the exception was our Mexican food festival, the menus of which was made available electronically.

In touch, online

DUE to the situation created by the health crisis, the Mexican Embassy will continue, for the rest of this year, privileging electronic media and online platforms in order to keep promoting México’s cultural richness and strengthening bilateral relations, along with a better understanding of our countries and a deepened presence of México in the Philippines.

It will be a pleasure for the embassy to keep in touch with the Mexican community and all of you, and to receive your feedback and comments regarding our cultural activities, through Facebook (@embamex.filipinas) and Twitter (@ EmbaMexFil). We invite you to virtually accompany us in upcoming events and those scheduled this September, while we remember our National Independence to the cry of ¡Viva México!

PHL: Inaugural chair of new Asean tech-voc council

US boosts Manila’s fight vs Covid-19

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MBASSADOR of the United States Sung Y. Kim handed over 5,000 hygiene kits and 16 handwashing stations to Manila City Mayor Francisco “Isko Moreno” Domagoso on September 17 to support the local government unit’s (LGU) fight against the coronavirus disease 2019 (Covid-19).

“The US government is a friend, partner and ally of the Manileños in facing this pandemic,” Kim stated in his visit to the Delpan Quarantine Facility in Tondo, Manila.

“The American people are pleased to support the City of Manila’s efforts to fight Covid-19.”

The hygiene kits, which contain face masks, soap, laundry detergent, dishwashing liquid and toothbrushes, provide an additional form of protection against the deadly virus through the provision of items essential for good personal hygiene practice.

The hygiene kits and handwashing stations are part of “BIDA Solusyon,” a national information campaign to fight Covid-19, implemented through a partnership between the Department of Health, USAID, and American company Procter and Gamble. Through this campaign, USAID and P&G are providing 70,000 hygiene kits to assist DOH

TESDA Secretary Isidro S. Lapeña (center) and his counterparts in the region DFA

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AMBASSADOR Sung Y. Kim (left) activates handwashing stations with Manila City Mayor Francisco “Isko Moreno” Domagoso (center). US EMBASSY

and LGUs nationwide in their fight against contagion.

To complement the donation, USAID will continue collaborating with the Manila City Health Office to help ensure that citizens can access quality tuberculosis services during the pandemic as well as support the rollout of the Health Department’s Coordinated Operations to Defeat Epidemic strategy, or

CODE, to contain the pandemic.

USAID also recently donated two ventilators to the Tondo Medical Center as a part of the 100 brand-new, state-of-the-art ventilators that the US handed over on August 28.

To date, the US government has invested more than $22.6 million, or about P1 billion, to support the Philippines’s response to the pandemic. US Embassy

HE Asean Technical Vocational Education and Training Council (ATC) was officially launched on September 21 during the high-level Human Resource Development (HRD) Conference hosted by Vietnam five days prior.

The Philippines, through the Technical Education and Skills Development Authority (Tesda), is the inaugural chair of the ATC from 2020 to 2022.

The ceremony was held virtually and streamed live through online platforms. Delegates from Asean member-states, relevant United Nations agencies and external partners attended the event.

In his opening remarks, Tesda Secretary Isidro S. Lapeña thanked the bloc’s member-states and the Asean Secretariat for their support in establishing the ATC during the 36th Summit in June 2020.

Lapeña recalled that the initiative stemmed from the challenges posed by the Fourth Industrial Revolution, which just started to gain traction in 2017. The uncertainties of the digital and technological transformation made the Philippines realize the need for a unified approach among the key players in skills development from both the supply and demand sides. Asean-Philippines Director-General Junever M. Mahilum-West of the Department of Foreign Affairs’ Office of Asean Affairs represented Education Secretary Leonor Magtolis-Briones as the Asean Education Ministers’ Meeting (ASED) chair.

Mahilum-West delivered the statement for the

adoption of the Roadmap of the Asean Declaration on HRD for the Changing World of Work.

Said road map will serve as the region’s guide in operationalizing the Asean Declaration on HRD for the Changing World of Work. The Philippines, as the ASED chair, commits its full support towards the implementation of the road map and the development of future-ready, competitive, and resilient Asean human resources.

The director-general also participated in the panel discussion on “Educational and Training Systems that Promote 21st Century Skills.” She emphasized the importance of partnerships in operationalizing the HRD Roadmap: “Asean sectoral bodies and stakeholders should strengthen their cooperation through information sharing, exchanges of experiences and best practices, joint learning, capacity building, and conduct of regular multi-stakeholders’ meetings to monitor the progress of the region’s initiatives.”

The ATC seeks to provide a platform for coordination, research and development on innovations, and monitoring of programs for technical vocational education and training advancement in the region. It was proposed by the Philippines as Asean chair in 2017.

The country, through Tesda, will host the first meeting of the ATC in 2021. The video presentation of its inaugural chairmanship may be accessed through https://youtu.be/FqVLHtKueZM. DFA

B8 Thursday, September 24, 2020

Sports BusinessMirror

PBA CLARK BUBBLE LOOKS GOOD TO GO? I

Pride of Makilala hangs PBA jersey after 17 seasons

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PRESIDENTIAL Spokesman Harry Roque hints of a positive result for the Philippine Basketball Association’s bubble in Clark.

N the words of Presidential Spokesman Harry Roque, the Philippine Basketball Association’s (PBA) effort to resume its shuttered 45th season in a Clark bubble looks rosy.

Very rosy that the Inter-Agency Task Force (IATF) on the Management of Emerging Infectious Diseases could give its approval to the PBA’s return-to-action request on Thursday.

And the announcement will come direct from Roque’s mouth.

“I will be the one who will announce it. As soon as it is approved, I will release it publicly,” Roque told BusinessMirror on Wednesday.

The PBA picked Clark for its National Basketball Association (NBA)-style Disney World bubble to at least complete the Philippine Cup which kicked off in March

with only one game because of the enhanced community quarantine wrought by the Covid-19 pandemic.

Roque confided that the IATF will discuss the pro league’s application and said that it is just only a matter of time—perhaps Thursday— that the PBA will be allowed to exercise its Clark bubble that would last for 49 days.

“Correct, correct,” said Roque, referring to the IATF’s scheduled meeting on Thursday to discuss the PBA’s request. “Let’s just say that to set a precedent, it’s a new policy, but it has been done in other countries, and it’s still ‘support the industry, the sports industry.’”

Roque said the PBA bubble is enticing to the IATF because the local pro league’s model, the NBA’s program in Florida, has been very successful so far. Besides, he added that other leagues in the world have resumed competitions with hardly a serious virus crisis.

Nike survives pandemic blues via online sales

National youth, masters online chessfest set

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EW YORK—Nike appears to have recovered from its pandemic slump, posting a solid quarterly profit driven by soaring online sales of its sneakers and workout apparel.

The world’s largest sports apparel maker on Tuesday reported a net profit of $1.5 billion profit, or 95 cents per share, in the three-month period ending August 31, up 11 percent from the same 2019 quarter.

That was well ahead of Wall Street analysts’ expectations of 47 cents a share, according to FactSet. Nike’s stock surged 13 percent in after-hours trading following the release of the results.

In previous quarter that ended May 31, the Beaverton, Oregon-based company reported an unexpected loss, with its revenue falling 38 percent after digital sales failed to make up for losses in physical stores shuttered to combat the spread of the coronavirus.

But analysts had predicted a rebound because Nike has been popular with online shoppers.

In the latest quarter, Nike’s digital sales rose 82 percent, helping offset declines in its wholesale business and Nike-owned stores.

Revenue in the fiscal first quarter held steady at $10.6 billion, a 1 percent decline from the previous year. Sales in China rose 6 percent while North America sales fell 2 percent.

Analysts had expected revenue of $9.2 billion.

Most of Nike’s stores are now open worldwide but sales continue to be slow because of lower customer traffic and safety measures related to Covid-19, the company said. Shipping costs and promotions aimed at reducing inventory continued to eat at margins but order cancellations fell.

Nike has stepped up its direct-toconsumer online strategy amid the pandemic, leveraging its workout app to drive digital sales. Online sales now make up at least 30 percent of its revenue, a goal the company had set for 2023. AP

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HE Endgame Sports Multi-Events Inc. and National Chess Federation of the Philippines (NCFP) teamed up for the 2020 National Youth Online Chess Championships and Masters Challenge set from September 29 to October 10.

A guaranteed cash pot of P77,000 will be up for grabs in the tournament that will feature competitions in boys and girls open, 7-Under, 9-under, 11-under, 13-under, 15-under and 17-under. There will also be a masters event for older and titled players.

“I think, since we really have the facilities in Clark, and it [bubble] is being done in a few industries, I can possibly say it will also be allowed in the sports,” Roque said.

Expected to lead the meeting are IATF Chairman and Department of Health Secretary Francisco Duque III and IATF co-chairman Cabinet Secretary Karlo Nograles. Games Amusements Board (GAB) Chairman Abraham “Baham” Mitra was also confirmed for the meeting.

“It’s going to be taken up tomorrow [Thursday] by the IATF for approval. BCDA [Bases Conversion and Development Authority] chief Vince Dizon will be present and we’re [GAB] just going to assist,” said Mitra, who is also optimistic on the IATF’s approval of the PBA’s request.

“We are confident that it will be approved.

The PBA is observing the NBA bubble and

“It is the goal of Endgame Sports to encourage the youth to keep on focusing their training and attain new heights,” Endgame Sports founding President Cris Aspiras said.

“Youth program is the main thrust of the National chess program, they have my support,” NCFP President Rep. Prospero Pichay said.

Interested parties may contact Michelle Yaon at 0966-8108378 or may log in at www. endgamesportsmgmt.com.

The qualifiers for the 7U, 9U and 11U are set at 9 a.m. on September 29 followed by the 13U,

mirror_sports@yahoo.com.ph / Editor: Jun Lomibao

has already introduced innovations,” he added. “Credit should be given to them for spending time, effort and resources to meet and improve the requirements to practice and resume the conference.”

Mitra said the league has patiently prepared and followed the newly improved safety protocols by the Joint Administrative Order team composed of GAB, DOH and the Philippine Sports Commission.

The PBA, meanwhile, could delay the start of the Clark bubble which is set to start this Saturday because of hitches in swab tests schedules.

“Let’s wait for the meantime” PBA Commissioner Willie Marcial told the BusinessMirror in a text message.

The PBA targets an October 9 to resume the Philippine Cup at the Angeles University Foundation Gym.

Under the PBA Clark bubble, everyone involved in the league will be confined inside the freeport zone. No one will be allowed out and those who insist at leaving the facility will be barred from returning and players who violate the rules will be fined P100,000 with a five-game suspension next season.

15U and 17U the next day and the Masters Challenge on October 1.

The grand finals are scheduled on October 3 and 4 for 7U, 9U, 11U, October 6 and 7 for 13U, 15U and 17U and October 9 and 10 for the masters using a time control of 15 minutes plus a five-second increment.

Registration is free in the 7U, 9U, 11U and 13U levels while a P100 entry fee will be charged in the 15U, 17U and masters class.

Every participant also need lichess, viber or Zoom accounts.

Geisler relentless against own association

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ONALD GEISLER’S fight against the very association that once painted him as one of the country’s bright prospects for even an Olympic gold medal has gone beyond the Philippine Taekwondo Association’s (PTA) spacious gym at the Rizal Memorial Sports Complex in Manila.

The PTA declared Geisler persona non grata for his breach of the national sports association’s (NSA) bylaws only days ago, stripping the former 1998 World Cup and Bangkok Asian Games silver medalist all the rights of a jin—including coaching and maintaining a school.

Geisler said that even before the PTA officially expelled him, he already filed last June 24 a complaint with the Philippine Competition Commission for “various discriminatory and anti-competitive practices” against NSA. “I also filed criminal complaints for libel and cyber libel for various defamatory statements made against me,” Geisler said.

“I tried my best to spare others in this battle. However, because of false statements and for twisting facts, I am now constrained to deal with all those who allowed themselves to be used as instruments of oppression [against me],” he added.

A three-time Southeast Asian

Games gold medalist, Geisler said PTA’s decision to strip him of his rights and affiliation with NSA impacted his being an accredited taekwondo Instructor and coach.

“The decision from the association was instantly posted in its Facebook page with a ‘Notice to the Public’ statement, saying that I was already expelled from the association as an accredited instructor,” he said. “That now prevents me from conducting and continuing my business in teaching the sport that I love. From the looks of it, these are all baseless and intended to create leverage against me.”

After donning the national colors for a decade, Geisler established his taekwondo training center in

Greenhills, San Juan, in 2016. He was also one of the national coaches for taekwondo and was a consultant for the national kickboxing team in the 30th Southeast Asian Games last December.

The PTA said that Geisler violated association rules by operating an online taekwondo school under his name and invited former and present national team members to provide inspirational talk to his students without prior permission from the association.

THE Nuggets’ Jamal Murray has 28 points, 12 assists and two late 3-pointers to halt a Lakers charge. AP

ETER JUNE SIMON retired after a 17-season career in the Philippine Basketball Association (PBA), leaving behind a legacy that borders from his relentless style to a reliable off-the-bench type of player who springs surprises when his team needed them most.

Simon, who owns the moniker “Scoring Apostle,” announced his retirement on social media and confirmed on Wednesday by his coach at Magnolia, Chito Victolero.

“I think he is a very respected player and he contributed a lot in the PBA. His name is also a legacy in his hometown,” said Victolero, who couldn’t remember if they ever met from opposite sides of the court during their playing years in the defunct Metropolitan Basketball Association (MBA) in 2001.

“I think we played in the MBA, but I just can’t remember what happened. He was too young during those times,” added Victolero, who praised the 40-year-old Simon for his professionalism and class act.

“He was good teammate and he gave advise to his teammates,” Victolero said.

Simon was unsigned after being drafted 43rd overall by the defunct Sta. Lucia Realty in 2001, but polished his game when he returned to the MBA and the then-Philippine Basketball League.

He joined James Yap at Purefoods in 2005 as a free agent and stayed with the franchise for the rest of his professional career.

Magnolia put Simon— the pride of Makilala, Cotabato, who burned the hoops for University of Mindanao in Davao City in his college years—on the free agent list this season.

Simon, who plays both guard and small forward positions, was a huge factor in Purefoods’s eight title runs— including the 2014 grand slam under Coach Tim Cone. He was also an eight-time All-Star and a Mr. Quality Minutes awardee twice in 2008 and 2014.

He joined other veterans—Kelly Williams of TNT KaTropa, Ranidel de Ocampo of Meralco and Sonny Thoss of Alaska—who retired during the Covid-19 pandemic.

PETER JUNE SIMON leaves a legacy as a reliable off-the-bench player who springs surprises when his team needed them most.

NUGGETS MAKES IT 2-1 WITH GAME 3 VICTORY L

AKE BUENA VISTA, Florida— They had just lost a playoff heartbreaker, and two nights later the Denver Nuggets quickly went from in control to in trouble.

Escaping trouble is what these Nuggets do best.

“Everybody always has us packing our bags and leaving, but we’re not ready to go,” Coach Michael Malone said. “For some reason we love this bubble.”

They’ll get at least two more games in it.

Jamal Murray had 28 points, 12 assists and two late 3-pointers to halt a Lakers charge, helping the Nuggets to a 114-106 victory Tuesday night that cut Los Angeles’ lead to 2-1 in the Western Conference finals.

The Nuggets lost almost all of a 20-point lead in the fourth quarter but held on, avoiding a 3-0 hole that would have been daunting even for this neverout-of-it team.

“We feel that we should be up 2-1 right now, to be honest,” Murray said. “So we’re just going to move on to Game Four.”

Denver has set a record by erasing two 3-1 deficits in this postseason, but no National Basketball Association (NBA) team has ever come back from 3-0.

Jerami Grant added a playoff career-high 26 points and Nikola Jokic had 22 points and 10 rebounds for the Nuggets, who will try to even the series on Thursday.

LeBron James had 30 points, 11 assists and 10 rebounds—his 26th playoff triple-double—for the Lakers, who remain two wins from their first NBA Finals appearance in a decade. Anthony Davis, who made the winning 3-pointer at the buzzer in Game Two, scored 27 points.

The Nuggets led by 20 with 10:30 left and soon

after were hanging on after the Lakers charged back with a 19-2 run, turning to a zone defense and forcing turnovers that led to easy baskets.

“We played some pretty good ball in the fourth quarter, but those first 36 minutes, that hurt us obviously,” James said.

With Denver’s lead down to four, Murray made a 3-pointer with 2:16 remaining. He then found Paul Millsap under the basket for a score before hitting a long 3 to push the lead back to 111-99 with 53 seconds to play.

Coach Frank Vogel acknowledged the Lakers were fortunate to win Game Two, in which they committed 24 turnovers, and would have to be better Tuesday.

Instead, it was the Nuggets who raised their game and played from ahead, ending a streak of six straight games where they trailed at halftime.

“Maybe they can beat us by 20, 30, they can beat us by a last shot, but we just cannot quit,” Jokic said. “Effort needs to be there.”

The Lakers built leads of 15 or more in the second quarter of the first two games. This time it was the Nuggets who started to run away in that period, even with Jokic on the bench resting for their big run that started it.

Denver began with a 7-0 spurt, the last five from Michael Porter Jr., to open a nine-point lead. After a dunk by James, Murray made a 3-pointer and Monte Morris scored the next five to make it a 15-2 start to the period and give the Nuggets a 44-29 advantage.

It would grow to 18 and could have been worse if not for Davis, who scored nine straight Lakers points. Markieff Morris’s 3-pointer trimmed it to 63-53 at halftime.

The Lakers got the first five points of the third to cut the lead in half, but Denver regained control and led 93-75 after three. AP