BusinessWeek Mindanao (April 17, 2020)

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Briefly No operations HOLCIM Philippines Inc. reported that it has suspended operations in its Davao City plant in compliance with the City government’s order imposing an enhanced community quarantine (ECQ).

In a disclosure to the P h i l i p p i n e S t o ck E x c h a n g e, Holcim said the suspension in operations will be from April 4, 2020 until April 19, 2020, or until the ECQ is lifted or withdrawn.

“Our Lugait Plant in Misamis Oriential will continue to operate and serve the requirements of our business partners and customers in Northern Mindanao and the Visayas,” the firm said.

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Lockdowns in Mindanao hurt banana production www.businessweekmindanao.com

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Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting

Friday | April 17, 2020

By CARMELITO Q. FRANCISCO Correspondent

Tax payment extended FINANCE Secretary Carlos Dominguez III has issued the revenue regulations extending t h e d e a d l i n e s fo r f i l i n g o f tax retur ns, submission of documents, and the payment of taxes, pursuant to Republic Act 11469, otherwise known as “Bayanihan to Heal as One Act.” According to Revenue Regulations (RR) No. 7-2020 dated March 30, 2020, the extension aims to relieve Filipino taxpayers who will not be able to prepare, let alone file, the necessar y documents under the Tax Code because of the enhanced community quarantine (ECQ) and other restrictions on the personal movement being implemented by the national and local governments to prevent community transmission of the coronavirus disease.

Section 4(z) of the Bayanihan Act, which placed the Philippines in a state of national emergency, grants the President the authority to “move statutor y deadlines and timelines for the filing and submission of any document, the payment of taxes, fees, and other charges required by law.”

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DELIVERIES SLOWED DOWN. A stevedore unloads a sack of eggplants from Lantapan, Bukidnon at the Bulua vegetable landing area in Cagayan de Oro City on Tuesday, April 14. The supply of vegetables and agricultural products are threatened with delays by recent quarantine measures set up by various local governments units against COVID-19. MindaNews photo by FROILAN GALLARDO

SSS to launch calamity loan

by April 24 amid pandemic

D A VA O C i t y — Quarantine protocols imposed by some local governments in Mindanao in line with the coronavirus disease 2019 (COVID-19) crisis have affected the production of some banana export firms in the midst of strong demand for the fresh fruit, a top industry executive said.

Stephen A. Antig, executive director of the Pilipino Banana Growers and Exporters Association, Inc. (PBGEA), said companies are seeing lower output as the movement of people is restricted by lockdowns and curfews.

The demand is high, but PRODUCTION/PAGE 7

By April 24 amid pandemic

EXECUTIVES of the Social Security System (SSS) target to launch by April 24, 2020 a calamity loan assistance program to support members affected

by quarantine implemented to address the coronavirus disease 2019 (Covid-19) pandemic.

In an online briefing Wednesday, SSS Vice President Fernando PANDEMIC/PAGE 7

DOT repatriates 5 stranded Canadian tourists from Caraga B U T UA N C i t y – T h e Department of Tourism (DOT) 13 (Caraga region) repatriated on Tuesday five Canadian tourists who were stranded in different

provinces in the region when local governments implemented community quarantine to contain the spread of the coronavirus disease 2019 (Covid-19).

TOURISTS/PAGE 7

MODE OF TRANSPO. Jenelyn Arnejo, 34, rides her horse from Brgy. Lucac to buy goods at the town’s public market in San Francisco, Agusan del Sur, which is six kilometers away. The provincial government has enforced the enhanced community quarantine to help contain the coronavirus disease (COVID-19). MindaNews photo by CHRIS V. PANGANIBAN

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FRIDAY | APRIL 17, 2020

Water fountain, gitunol ni Gov. Emano sa NMMC

ARON mas mahimong komportable ang atong mga frontliners sa Northern Mindanao Medical Center (NMMC) nga nahimutang sa dakbayan sa Cagayan de Oro, nagtunol og drinking fountain with water purifier si Gov. Bambi Emano niadtong Abril 15, 2020.

Gidawat ni NMMC chief of hospital Dr. Jose Chan ang pasilidad nga gidonar sa Kooler Industries.

Malipayong gipaabot ni Gov. Emano nga gihimong tulay ang pangagamhanang lokal

sa Misamis Oriental aron masiguro nga modangat gayud sa nasangpit nga tambalanan ang maong butang nga adunay UV LED water disinfection.

Matud ni Dr. Chan, dili na kinahanglan mogawas pa sa tambalanan ang doctor, nurses ug uban pang hospital workers aron mopalit sa bugnaw ug limpyo nga tubig mainom. Mosalud lang sila sa drinking fountain, hupay na ang ilang kauhaw.

Matud ni Mr. Rod Ratunil III, branch head sa Kooler Industries

dinhi sa Cagayan de Oro, nagtuo sila nga makatabang ang drinking water fountain sa pakigbatok sa coronavirus disease 2019, maong

gidunol nila kini sa NMMC. Ug, aron dili mopadulong bisan kinsa o bisan asa ang nasangpit nga butang, gipaagi kini kang Gov. Emano.

Stranded local tourists in Davao Oro launches online medical consultation Caraga get aid from DOT BU T UA N C i t y – Department o f To u r i s m i n Caraga Region ( D OT- 1 3 ) s a i d it is working for the repatriation of foreign and local tourists stranded in different tourist sites in Caraga Region following the implementation of the regionwide community quarantine. “ We n e e d t o l o o k i nt o t h e s i t u at i o n of our local tourists stranded here. While c au g ht i n t h e i mp l e m e nt at i o n o f c o m mu n i t y q u a r a nt i n e s ,

the DOT provided them with financial assistance to sustain their daily n e e d s ,” D O T13 OIC-Director M a r y Je a n A .

Camarin told the Philippine Ne w s A g e n c y o n Tu e s d ay ( Ap r i l 14).

Local g o v e r n m e nt units in the r e g i o n i mp o s e d t h e q u a r a nt i n e in response to t h e t h r e at o f t h e 2 0 1 9 c o r o n av i r u s disease (C ovid-19) pandemic.

Camarin said there are about 167 stuck local tourists in the

r e g i o n , s c at t e r e d in the provinces of Surigao del S u r, A g u s a n d e l No r t e , a n d S u r i g a o d e l No r t e , particularly in S i a r g a o Is l a n d .

“Mo s t o f t h e s e stranded local tourists are in S i a r g a o. T h e y a r e in Siargao since t h e d ay t h e t r i p s of vessels were canceled due to t h e q u a r a nt i n e ,” she added.

Camarin s a i d t h at t h e distribution of financial aid, through the “D OT C a r e s” p r o g r a m s t a r t e d S at u r d ay l a s t w e e k ( Ap r i l 11) and will c o nt i nu e u nt i l t h e

DAVAO City – The province of Davao de Oro launched on Monday the online and text messaging platform, Call DdOc, for those seeking medical help amid the coronavirus disease 2019 (Covid-19) pandemic.

In a statement, the Davao de Oro government said the platform uses a virtual doctor and will cater to persons who are vulnerable to the

disease, such as senior citizens, individuals with co-morbidities, pregnant women and children, it said.

“Targets of the newly launched project is to cater online consultations for the usual hospital services only such as for common illnesses, pregnancies, pediatrics, and surgeries,” the provincial government said.

Call DdOC is available

from Monday to Friday from 8 a.m. to 5 p.m. within Davao de Oro province.

Aside from having emergency hotline numbers for Covid-19 cases, the provincial government said four hospitals in the towns of Montevista, Laak, Pantukan, and Maragusan have been equipped teams and hotline numbers to cater calls only for medical consultations.

end of this week.

A s o f Tu e s d ay, a total of 104 stranded local tourists were already provided with financial assistance worth P2,000 each in the region.

Camarin also reported the c o nt i nu i n g e f f o r t s

o f D O T- 1 3 a n d t h e L G Us i n t h e a r e a t o r e p at r i at e stranded foreign tourists in the region.

“The DOT is n e g o t i at i n g f o r av a i l a b l e s w e e p e r f l i g ht s t o f e r r y the stranded foreign tourists while

their respective embassies are also w o r k i n g w i t h u s ,” she said.

A total of 462 foreign tourists were already f lown out from the region to Manila as of March 31 this y e a r. ( P NA )

CONSULTATION/PAGE 6

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FRIDAY | APRIL 17, 2020

CorporateWorld

PSALM ups power capacities of 2 power utilities in Mindanao

STATE-led Power Sector Assets and Liabilities Management Corp. (PSALM) allotted more power capacities to two rural electric utilities in Mindanao to ensure a steady supply in their service areas under enhanced community quarantine (ECQ) to contain the coronavirus disease 2019 (COVID-19) pandemic.

In a statement on

Monday, the agency tasked to privatize the government’s power assets said it increased the power allocation of Lanao del Sur Electric Cooperative, Inc. (Lasureco) to 42 megawatts (MW) from 16.8 MW and Maguindanao Electric Cooperative, Inc. (Magelco) to 17.88 MW from 10 MW. The move was authorized by Republic

Act No. 11469, or the Bayanihan to Heal as One Act, which orders government agencies to implement emergency measures to support the ECQ. Specifically, PSALM has done this upon the order to conserve and regulate the distribution and use of electricity amid the public health crisis because of COVID-19.

PSALM serves 54

power stakeholders in Mindanao composed of electric cooperatives, industrial entities, and private and government corporations.

Lasureco serves 63,003 connected memberconsumers, while Magelco attends to 44,156 memberconsumers.

Recently, PSALM has extended the bills payments of distribution UTILITIES/PAGE 6

AirAsia execs take unpaid leave to cut costs LOW-COST carrier Philippines AirAsia, Inc.’s management and senior-level employees have taken voluntary unpaid leaves of absence to reduce costs because of the coronavirus disease 2019 (COVID-19) crisis.

“Those taking voluntary unpaid leaves include managers, heads of departments, pilots, among others,” Philippines AirAsia’s Head of Communications David F. de Castro said.

AirAsia Group Berhad Chief Executive Officer Anthony Francis “Tony” Fernandes announced on Friday last week that “AllStars” or all employees of the group have “accepted temporary pay reductions of anywhere between 15-75%, depending on seniority.”

AirAsia operates in Malaysia, Indonesia, Thailand, the Philippines, India and Japan. Its services include hotels, holidays, activities and

online shopping, as well as integrated logistics and digital financial services.

As for the Philippines AirAsia, which has around 2,000 employees, Mr. de Castro said: “Not all will be getting a salary reduction (via voluntary unpaid leave). Those in the junior positions will continue to get their salaries in full.”

“To minimize the impact on junior posts is the company’s objective,” he added.

Mr. Fernandes said he and the chairman of the group, Kamarudin Meranun, “will not be taking a salary during this period.”

“There’s no denying that our industry has been hit hard, and we are no exception. This is possibly the biggest challenge we have ever had to face. We have no revenue coming in; 96% of our fleet is grounded and we still COSTS/PAGE 6

3 Villar remains the wealthiest Filipino with P283B net worth MANUEL B. Villar, Jr. remains the richest Filipino in 2020 based on Forbes Magazine’s latest list of world billionaires.

The Forbes World’s Billionaires List came out Tuesday night, hailing real estate tycoon and former senator Mr. Villar as the wealthiest in the Philippines with a net worth of$5.6 billion (about P283.11 billion).

A total of 15 Filipinos made this year’s billionaire list, which Forbes collected using stock prices and exchange rates from March 18. The list is composed of individuals with an estimated net worth of at least $1 billion, and totaled 2,095 billionaires, fewer by 58 persons from in 2019.

Mr. Villar ranked 286th in the global list with his wealth growing about 2% from last year’s $5.5 billion (about P278.06 billion).

He is the chairman of four listed companies: real estate firm Vista Land & Lifescapes, Inc.; mall operator Vistamalls, Inc.; death-care service provider Golden Bria Holdings, Inc.; and home improvement retailer

AllHome Corp.

In the ongoing coronavirus disease 2019 (COVID-19) pandemic, Mr. Villar has donated disinfecting apparatus, face masks and a daily supply of bottled water to the government for distribution to government hospitals.

His group of companies also teamed up with a local construction firm in assisting the Department of Public Works and Highways, which is headed

by Mr. Villar’s son Mark A. Villlar, in building a health facility in the Philippine International Convention Center for COVID-19 patients.

Following Mr. Villar in Forbes’ list of billionaires is port and gaming magnate Enrique K. Razon, Jr. — second richest in the Philippines and 565th in the global list. He took the place of JG Summit Holdings, Inc. founder John L. Gokongwei, Jr. who died in late 2019.

Mr. Razon recorded a net worth of $3.4 billion (about P171.89 billion) in 2020, down by about 29% from last year’s $4.8 billion (about P242.95 billion).

WORTH/PAGE 6

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Opinion

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Rise to the challenge (Part 1) Think a minute...One man said, “I have problems flown in fresh daily wherever I am!”

Ever feel like you cannot get away from problems no matter where you go? We all know that problems and challenges are a part of life.

Some of them we face every day at home and at work.

Then there is that once-ina-lifetime challenge we must overcome. How we respond to challenges greatly determines how successful and satisfying our life will be. Remember: “A smooth sea never made a skillful sailor.”

The world of sports can help us see the kind of heart and courage we need to rise to the challenge. Years ago the Australian Herb Elliot was a great runner until he broke his foot and could not run for months. He was then forced to only watch as John Landy ran the mile in under four minutes.

Afterwards, Elliot told a famous running coach that he also wanted to run the mile in less than four minutes.

THINK A MINUTE

JHAN TIAFAU HURST The coach looked at him and answered: “Son, do you know what it takes to run a mile in under four minutes?

Are you ready to run until you can hardly stand and you’re almost unconscious?”

Young Herb Elliot rose to the challenge. Less than one year later, at age 19, he broke the world record by running a mile in only 3 minutes and 54 seconds!

The great female athlete Babe Didrikson won two gold medals in the Olympics and was also a champion in CHALLENGE/PAGE 7

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FRIDAY | APRIL 17, 2020

Are you faithful?

As family members and signatories, are you faithfully complying with what you agreed and wrote in the family constitution? Are all signatories walking their talk?

In short, are your actions consistent with what you all concurred during your constitution crafting sessions?

Founders and business leaders must realize that it is the process that REALLY matters! And it is often said that when making a constitution, the process is more important than the output. Why? The process gives family members the chance to work and make decisions together, deliberate in a structured logical way about the future of the family and the business and prepare for the transition long before the founder or the key business leader retires or becomes incapacitated.

The essence is to create a certain level of shared understanding among family

members, create a set of family norms of behavior, clarify roles, define rules, understand ever y family member’s/ shareholders’ rights and responsibilities (active and passive) and institutionalize accountability.

In a Harvard Business Re vie w ar ticle entitled “The Three Components of Family Governance” penned by noted Family Business expert, Dr. John Davies, he adeptly recommends the activation of the following cr it ica l comp onents in the governance ecosystem immediately right after the signing of the family constitution: · Family must initiate periodic (annual) assemblies and · Activate the Family Council so issues that were not heard nor given importance during the constitution building sessions can now be thoroughly discussed and planned

Under a post constitution stage, the primary objective is to sustain the energy and the drive of the family by encouraging them to further strengthen business-family communication. Treating the family in a more formal, organizational way can feel awkward at first and asserting the value (without exception) that each family member must embrace the concept of a fair process is a sensitive, crucial and very important governance phase.

Overcoming the initial discomfort and encouraging every family member to par ticipate in decision making is part of the journey of transformation. When they have a “voice”, when they believe the process for making a decision is fair and transparent, they will accept the outcome of that process even if it may not reflect their own personal views.

The fairness principle was already introduced when

Global tourism industry dips down With each passing day, the impact is coming out loud and clear for all the major economies that are hit hard by the blow of coronavirus.

Travel and tourism not only involve leisure and holiday but binds the entire world for business, educational, medical and many other purposes that we may call as essential and unavoidable. The tourism industry currently accounts for 10 pc of global GDP and by now, it is crystal clear that the travel and tourism sector is facing the most disastrous phase ever.

The World Travel and Tourism Council (WTTC) has already warned that the COVID-19 pandemic could cut 50 million jobs worldwide in the travel and tourism industry and Asia is expected to be the worst affected continent. Within the travel and tourism industry, airlines and cruise ships are suffering bigger losses than the hospitality sector.

Once the outbreak is over, it could take up to 10 months for the industry to recover.

Of the 50 million jobs that could be lost worldwide,

around 30 million would be in Asia only, seven million in Europe, five million in the Americas and the rest in other continents, according to WTTC. According to reports, the equivalent to a loss of three months of global travel in 2020 could lead to a corresponding reduction in jobs between 12 pc and 14 pc.

This impact would depend on how long the pandemic will last and could still be aggravated by all the restrictive measures, travel

Sore loser, sure loser WE cannot deny that in life we cannot avoid experiencing some defeats and losses, some setbacks, failures, disasters and crises. And all these possible scenarios can occur in spite of our best intentions and efforts.

O u r re a c t i on to a l l these should be, as much as possible, gracious, not bitter, sad or sullen. Like Christ who also suffered the worst defeat by being crucified as a criminal in the worst kind of injustice that can take place in this world, we have to go through these possible situations calmly and, yes, prayerfully.

We a l w ay s h av e t o remember that only with Christ, only when we unite our suffering with the passion and death of Christ, would our defeats and losses, our setbacks, failures, disasters and crises become a path to our own resurrection with Christ. Our victory is assured and guaranteed by Christ himself who takes care of everything.

Obviously, human as we are, we can neither deny that our reflex reactions to these negative scenarios would be anger or sadness, bitterness, cursing, and the like. But we should not stay long there. We have to cut it as immediately as possible.

God will always understand us. He is a father who is omnipotent to provide us with all the graces and means to overcome those instantaneous human reactions.

We should not be sore losers, because to be one is also to be a sure loser. If we are always guided by our Christian faith, we know that the many contradictions we can meet in life are good, and even privileged, occasions to get closer to God. He actually pays special attention to us when we are in some difficulty. This truth of our faith should never be lost in our mind and heart.

We have to learn to train and purify our emotions and the other human faculties we have so they can conform to

this wonderful truth of our faith. We have to learn to smile and be cheerful, sport and game, whenever some of these dark events come our way. We should always be hopeful, optimistic, brighteyed in all this drama.

We should try to avoid playing the role of the victim, because there is only one real victim, and that is Christ, who turned things around by converting his passion and death into his way to his resurrection.

Of course, we also suffer.

We cannot avoid it. But that suffering becomes sweet and meaningful when united with the suffering of Christ.

May we learn to suffer with a smile on our lips, and an irrevocable confidence in the God’s mercy and love in our heart.

To those who may have caused us suffering and humiliation, we should always be nice and charitable. We have to drive away any trace of anger, hatred and rancor.

We have to be magnanimous,

FAMILY BUSINESS COACH

PROF. ENRIQUE SORIANO family members started working together on the family constitution. That is why this frame of mind should be carried over to the family council and assembly.

Critically and through the activation of the family council, facilitators and the framers of the constitution must thoroughly spend time embracing the values and the vision as articulated by the founder’s original motives for building the family business. It is important that family members first clarify the shared beliefs, FAITHFUL/PAGE 7

NUTS & BOLTS

JEROME DE LA FUENTE

advisories, airline lockdown and revoking of the issued visas.

“Certain measures are not helping and they can prompt the economic impact to be way more significant,” WTTC’s managing director Virginia Messina told an DOWN/PAGE 7

HINTS AND TRACES

ROY CIMAGALA offering the other cheek as Christ himself told us. (cfr.

Mt 5,39) In a sense, we should even be thankful for them because they are giving us the occasion to identify ourselves more like Christ. This is never a form of masochism, but rather a concrete expression of Christian charity. And so, we should even be welcoming to these situations whenever they approach us.

Of course, this does not mean that we provoke or cause our suffering, although as a way to prepare ourselves for the unavoidable suffering, MILE/PAGE 7

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FRIDAY | APRIL 17, 2020

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ENTERPRISE BANK INC. Centro Mariano Bldg Osmeña St. Cdoc 723869/ 3093395 FIRST CONSOLIDATED BANK CM Recto Ave., Cor.Agudo Road Cdoc 8565360/2316678 LBP – CAPISTRANO Capsitrano St. Cdoc | 8565515/727678 LBP – VELEZ LunaVelez St. | 723549/8563198 LBP – PUERTO Puerto Cdoc | 8558858 MAYBANK JR Borja Tiano Cor. Bldg. Cdoc 8574439/726060 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999 METRO BANK- VELEZ A. Velez St. Cdoc | 8561724/726054 METRO BANK- JR BORJA JR Borja St. Cdoc | 8572999/724415

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5

Banking&Finance

BSP undertakes extraordinary measures to boost liquidity THE Bangko Sentral ng Pilipinas (BSP) is shoring up domestic liquidity to address the economic impact of the coronavirus disease 2019 (Covid-19) pandemic.

It has decided to implement extraordinary measures to help in the national government’s Covid-19 response by, among others, expanding the range of pesodenominated government securities (GS) that it buys starting April 8.

In a statement, the central bank said that since March 24, 2020, it opened a daily one-hour window from 9:30-10:30 a.m. to buy a select series of highly traded and liquid GS from banks at market prices.

However, this changed on Wednesday after it decided to purchase not just select series but all peso-denominated GS issuances.

“This measure is aimed at reassuring market participants of demand for GS should they need to liquidate their holdings thus, encouraging participation in the GS auctions,” the BSP said.

The central bank said this exercise will remain open between April and

June 2020, or until market conditions return to normal.

Along with the decision to purchase peso-denominated GS is the cut of its offering for the overnight reverse repurchase (RRP) facility starting April 8 “as necessary depending on liquidity conditions to encourage counterparties to lend in the interbank market or re-channel their funds into other assets such as GS or loans.”

These are on top of the P300-billion repurchase agreement with the national government (NG) wherein the BSP will buy a three-month GS from the Bureau of the Treasury for a (BTr) at no cost.

“The Monetary Board may extend the repurchase period for a maximum of three more months upon due date, if conditions so warrant. In turn, the NG shall use the proceeds to finance expenditures authorized in its annual appropriation, as deemed necessary to support programs to counter the impact of the Covid-19 outbreak in the country,” the BSP said.

The central bank said these measures are being made since the global

pandemic caused by the coronavirus disease (Covid-19) “has had a sweeping impact on economies and financial systems around the world.”

“The outlook for global economic growth has dimmed considerably in Q1 (first quarter) 2020, while turbulence in financial markets has constrained liquidity.

These developments have prompted monetary authorities around the world to step in to cushion economic activity and stabilize financial markets,” it said.

As a result of this global development, the BSP said it has observed some volatility in the domestic financial market in recent weeks, as uncertainty over the impact of the health crisis continues to dampen market sentiment.

The central bank said while it “believes that the Philippine financial system remains sound with adequate capital and liquidity buffers, we also recognize the need to shore up market confidence to ensure the proper functioning of the financial market and prevent serious repercussions on the

economy over the medium term.”

“Therefore, guided by its mandate as the country’s central monetary authority, and in accordance with the provisions of the New Central Bank Act, the BSP deems it necessary to take extraordinary measures to complement the national government’s broad-based health and fiscal programs in mitigating the impact of Covid-19,” it said.

By ensuring sufficient liquidity in the financial system, the BSP aims to assist its financial intermediaries in responding to the needs of Filipino households and businesses amid these challenging times, it added.

In a piece he wrote for the Nikkei Asian Review, BSP Governor Benjamin Diokno said monetary officials “can increase to P500 billion if necessary” the repurchase agreement with the NG. Aside from this agreement with the NG, the central bank’s policymaking Monetary Board (MB) has reduced the central bank’s key policy rates by a total of 75 basis points and cut universal

EMPLOYEES working for the micro, small and medium enterprises (MSMEs) will get additional government support as part of the program to help lessen the impact of the coronavirus disease 2019 (Covid-19) pandemic to their livelihoods.

“We will announce a program to assist the employees of MSMEs by tomorrow (April 14), as well as to assist the MSMEs with a loan guarantee program. This will be aimed at what people call the middle class,” Finance Secretary Carlos Dominguez III told journalists in a Viber message Monday.

Dominguez said the government continues to help people affected by the global pandemic but added the distribution of cash support is only targeted for poor households and the vulnerable sector to date.

In a phone-patch interview by CNN Philippines Monday, he said the initial government support for the middle class comes in the form of policies that require financial institutions, among others, to extend

the payment period for loans and credit cards with due dates falling during the quarantine period.

He said the Bayanihan to Heal as One Act also mandates banks, among others, not to slap their customers with interest or additional fees on unpaid bills due within the quarantine period.

Dominguez discounted any cash aid for the middle class to date “because when we define middle class, we define the middle class as those people who have regular jobs.”

He, however, said the about three to 3.5 million MSME workers will “evidently will receive cash support.”

“The total cost will be between P35-51 billion.

So that part of the middle class, they will receive support,” he added.

Dominguez further said the government currently has sufficient funds to address the contagion.

The government has established a four-pillar socioeconomic strategy against the impact of Covid-19 and the first of these pillars is the support for the vulnerable groups and individuals.

Included in the first pillar is the P205billion emergency subsidy program for 18 million low-income families belonging to the informal sector, the P35-billion wage subsidy for employees of MSMEs, the P30 billion top-up for local governments to support their vulnerable constituents, the P16.5 billion for rice programs of the Departments of Agriculture (DA) and the Department of Trade and Industry (DTI), the P10 billion for Land Bank of the Philippines (Landbank) emergency loan program for local government units (LGUs).

Also part of the first pillar are the PHP2.8 billion additional fund for DA’s Survival and Recovery Assistance Program (SURE Aid) for zero-interest loans of up to P25,000 for affected farmers and fishermen, P2 billion for Department of Labor and Employment (DOLE) cash assistance program for displaced workers, the P1-billion DTI loan program for MSMEs and P203 million for enterprise development training and livelihood kits; P1.2 billion

for Social Security System (SSS) unemployment benefits, P3 billion for Technical Education and Skills Development Authority (TESDA) online upskilling courses for workers, the up to P15million loan assistance from DA for micro and small enterprises engaged in agriculture and fisheries production, the tax benefits like tax relief for donations of medical supplies and relief goods, and the 30-day grace period on commercial rents and moratorium on loan payments of MSMEs due during the enhanced quarantine period.

The second pillar involves the utilization of about PHP8 billion to purchase medical supplies and testing kits, among others.

The funds will come from the Philippine Amusement and Gaming Corporation (Pagcor) and the Philippine Charity Sweepstakes Office (PCSO), amounting to P2.9 billion; half of the P300-billion grant from the Asian Development Bank (ADB); and the P5-

LIQUIDITY/PAGE 7

Gov’t finalizing Covid-related support for MSME workers

WORKERS/PAGE 7

6

Consultation... from page 2

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points (ppts) to 23% in the fourth quarter of 2019 in terms of market dominance, driven by a strong 21% growth in passengers carried.

According to Philippines AirAsia Chief Executive Officer Ricardo P. Isla, the Philippine unit’s net income for 2019 grew “almost like P1.5 billion.”

To recall, the budget carrier swung to a net operating loss of P2.11 billion in 2018 from a profit of P710 million in 2017 as it was hit by the rise in the price of jet fuel and the weakening of the Philippine peso against the US dollar.

Dr. Ferdinand Anthony Soberano, chief of the four provincial hospitals, said Call DdOc was conceptualized to further cater to persons who wanted medical attention.

“This is intended for OPD wherein people will no longer go to the hospitals and they will be given medical assistance,” Soberano said.

He said the innovation would address medical concerns without the need for patients’ physical presence in line with the social distancing and “stay at home” policies to from page 3 prevent the spread of the Mr. Razon is the virus. (PNA)

Worth...

Utilities...

chairman of listed port operator International from page 3 Container Terminal utilities, independent Services, Inc. and hotel power producers (IPP) and gaming operator administrators and Bloomberry Resorts Corp. universal charge (UC) He also recently took a collecting entities up to 30 stake in Ayala-led water days from April 14, which concessionaire Manila was initially the end of Water Co., Inc. the Luzon-wide lockdown In the fight against period.

COVID-19, Mr. Razon The bills deferment was is taking part in a ordered by the Department consortium of companies of Energy (DoE) and helping communities the Energy Regulatory affected by the LuzonCommission (ERC) which wide lockdown through seek the unhampered a P1.7-billion donation. delivery of energy services His infrastructure firm amid the quarantine Prime Metro BMD Corp. period. is also working with the The DoE earlier government to transform clarified that power the Ninoy Aquino Stadium consumers should still pay into a COVID-19 facility. their dues and obligations The children of SM to PSALM due before the Investments Corp. (SMIC) ECQ on March 15. founder Henry Sy, Sr., who The quarantine period died in early 2019, took was extended until the end the next four spots in the of April. country’s wealthiest men: Hans T. Sy and Herbert T. Sy tied at 1,063rd in the from page 3 global list with net worth of $2 billion each (about have significant ongoing P101.23 billion); and financial commitments Harley T. Sy and Henry such as fuel suppliers and T. Sy, Jr. tied at 1,135th leasing agents,” he said.

Mr. Fernandes said the with net worths of $1.9 group is doing all it can to billion each (about P96.17 cut costs during the crisis, billion).

Hans’ and Herbert’s net as it strives to “come back fighting as fast as possible worths this year fell from last year’s $2.4 billion each and continue to be the (about P121.48 billion), world’s best low-cost while Harley’s and Henry carrier.”

Sr.’s net worths dropped Philippines AirAsia used to operate more than from last year’s $2.2 billion (about P111.35 billion).

500 weekly domestic and Their two other international flights from siblings also made the its hubs in Manila, Clark, list: Teresita T. Sy-Coson Cebu and Kalibo. ranked eighth in the Philippine Airlines, local list and 1,196th Cebu Air, Inc. (Cebu in the global list with a Pacific), Philippines net worth of $1.8 billion AirAsia, Air Philippines (about P91.11 billion), Corp. (PAL Express), and Elizabeth T. Sy ranked and Cebgo, Inc. have 12th in the local list and temporarily shut down their passenger operations 1,335th in the global list with a net worth of $1.6 after Luzon was placed billion (about P80.98 under an enhanced billion). community quarantine.

Teresita’s wealth Over 30,000 flights declined from last year’s were canceled, affecting $2.2 billion (about P111.35 nearly five million billion), while Elizabeth’s passengers, according wealth decreased from last to the Air Carriers year’s $1.9 billion (about Association of the P96.17 billion).

Philippines.

In helping in the In January, AirAsia ongoing health crisis, the Group reported that its Sy family, through the SM Philippine unit grew the Group, has earmarked most by 4 percentage

Costs...

more than P170 million to buy personal protective equipment, test kits and ventilators to be given to hospitals.

Other Filipino billionaires that made the list include Alliance Global Group, Inc. Chairman Andrew L. Tan (tied with Hans and Herbert at 1,063rd), with a net worth of $1.9 billion (about P96.17 billion). His wealth this year is lower from last year’s $2.7 billion (about P136.66 billion).

Alphaland Corp.

Chairman Roberto V. Ongpin also made the list — ninth locally and 1,267th globally. His net worth stood at $1.7 billion (about P86.05 billion), higher from last year’s $1.1 billion (about P55.68 billion).

LT Group, Inc. and PAL Holdings, Inc. Chairman Lucio C. Tan, whose businesses expand across banking, tobacco, spirits, property and airlines, was the 10th richest man in the country and 1,267th in the world.

His net worth dropped to $1.7 billion (about P86.05 billion) from last year’s $4.4 billion (about P222.71 billion).

Mr. Tan is tied with Jollibee Foods Corp. founder Tony Tan Caktiong and his family, whose net worth of $1.7 billion (about P86.05 billion) this year fell from last year’s $3.9 billion (about P197.4 billion).

Completing the list from ranks 13th to 15th are San Miguel Corp.

President and Chief Operating Officer Ramon S. Ang; Prudential Guarantee & Assurance Chairman Robert G. Coyiuto, Jr.; and San Miguel Chairman Eduardo M. Cojuangco, Jr. Mr. Ang’s and Mr. Coyiuto’s net worths were at $1.4 billion each (about P70.86 billion). This is lower for Mr. Ang whose wealth in 2019 stood at $2.9 billion (about P146.78 billion). Mr. Coyiuto’s net worth was flat.

Mr. Cojuangco recorded a net worth of $1 billion (about P50.61 billion), down from last year’s $1.4 billion (about P70.86 billion).

Forbes noted 51% of the billionaires in this year’s billionaire list are “poorer” from a year ago, which it attributed to the collapse of global equities and business declines due to the COVID-19 pandemic.

The consolidated net worth of the billionaires in the list stood at $8 trillion (about P404.92 trillion), lower by $700 billion year on year.

Topping the global list are Amazon founder Jeff Bezos ($113 billion from last year’s $131 billion) and Microsoft founder Bill Gates ($98 billion from last year’s $96.5 billion).

7

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Workers...

from page 5 billion loan from World Bank (WB).

The third pillar is about the fiscal and monetary actions to finance the Covid-19 response and these include the P310 billion additional financing from several multilateral agencies like ADB and WB, and the P300 billion extended by the Bangko Sentral ng Pilipinas (BSP) for the purchase of government securities that are redeemable at a maximum of six-month period.

0The last pillar is about the bounce-back program for the economy that involves, among others, the continued investment for infrastructure programs. (PNA)

Production...

Cooperatives in Mindanao (FEDCO), which is composed of small banana growers, is looking for funding to irrigate more farms in M’lang, North Cotabato to maintain production despite the dry spell.

“There had been no rain in North Cotabato since January this year, FEDCO founder and Chief Executive Officer Ireneo D. Dalayon said in a text message.

He said they have already set up irrigation systems in at least 20 hectares of banana farms since last year and they need to source capital to cover another 20 hectares.

Mr. Dalayon said an investment of about P500,000 is needed to irrigate one h e c t are, i n clu d i ng t h e procurement of water pumps.

Pandemic... from page 1

said they are just finalizing their system for this loan, from page 1 which will have a maximum movement of the workers amount of PHP20,000 per is our main concern, said member.

He s ai d appl i c at i on Mr. Antig.

In Bukidnon, banana farms for the loan will be online are not included in the list of via MY.SSS, which can be essential businesses that are accessed using the agency’s allowed to continue operating website, www.sss.gov.ph. during the quarantine period Members who are qualified for this loan are those who from April 13 to 26.

Under the guidelines have paid contributions for issued by Gov. Jose Maria 36 months and six months of R. Zubiri, Jr., non-exempt these should have been made businesses shall be closed within the last 12 months during the effectivity of the before the loan application is submitted. order.”

In Davao del Norte, the top Delinquent borrowers are banana-producing province not qualified for this loan in the country accounting for program. about 37% of total exports, N i c o l a s u r g e d S S S Gov. Edwin I. Jubahib ordered members to open bank the reduction of the number a c c o u n t s b e c a u s e S S S of agricultural workers and management has approved directed them to observe the recommendation to pay all the loan proceeds and two-meter distancing.

The order is in effect from other benefits through an online banking facility.

April 5 to 20.

Provincial lockdowns have He clarified that proceeds also been preventing workers of this loan program are not from crossing borders if their sure to be made through residence is not within the online bank crediting because same locality as the farms. SSS officials are still finalizing The farms could have agreements with several banks maximized productivity now “but definitely, the benefits that the market has improved, that have been approved but these orders have become earlier can be sent to the a big challenge (to meet), members’ bank accounts anytime.” said Mr. Antig.

He added that the initial Aside from the calamity problem on cargo movement loan program, SSS has has b e en res olve d and extended to within 60 days the shipments are now operating filing of sickness notifications for s e l f - e mp l oye d an d smoothly again.

February 2020 export data voluntary members. released earlier this month A t h r e e - m o n t h by the Philippine Statistics moratorium on loan payments Authority (PSA) showed is also in effect until May 2020 fresh bananas were among to lessen the impact of the the bright spots with a 29.6% quarantine on workers in the private sector and those who growth rate.

In 2019, the value of are self-employed. exported Cavendish bananas S S S m e m b e r s m a y MAIN s e nd any i nqu i r i e s on stood atCDO $1.93 billion, 40%BRANCH theTiano agency’s programs to P& Lim $1.38 Bldg., Brothers higher than theJ 2018’s member_relations@sss.gov. billion. Kalambagohan Bananas accounted Sts., ph, ofw.relations@sss.gov. for 38.77% of the Tel. # agro-based (08822) 727-829 * prnhelpline@sss.gov.ph, exports Telefax last year, and#2.75% (088)ph; 856-1947 onlineservicesassistance@ of total exports. sss.gov.ph, the SSS website PBGEA President Victor S. CAMIGUIN BRANCH at MY.SSS. Mercado,B. in aAranas press briefing in St., Poblacion, They may also call the SSS February,Mambajao, noted that while theCamiguin automated telephone number export value has increased, Tel. # (088) 387-0491 production actually fell to 195 at 7917-7777. (PNA) million metric tons (MT) in CORRALES BRANCH 2019 from 207 million MT Corrales in 2018 due mainly to aAve., mild from page 1 de Oro City drought,Cagayan which is expected D OT-13 OIC-Dire c tor to continue this year.

Mary Jean A. Camarin said T h e F e d e r a t i o n o f on Wednesday that four of the

Tourist...

stranded Canadian tourists were repatriated through a chartered flight from Davao City to Manila, while the other one was flown from Cagayan de Oro City.

Camarin thanked local officials for helping the agency send back the stranded foreign tourists to their countries.

“With the implementation of the ECQ (enhanced community quarantine), we wrote the governors to help us in the process. We are thankful for their positive response and the help they provided for the success of the repatriation of our stranded foreign tourists,” she said.

Four stranded Canadians from Bislig City in Surigao del Sur were ferried to Davao City Airport on Tuesday to catch their chartered flight to Manila, she added.

“It’s the embassies now that work with us in the arrangement of chartered flights to repatriate their nationals stranded here,” Camarin said.

She also told PNA that they are now working for the repatriation of Australian and Spanish tourists also stranded in various areas in the region.

“We hope that we can finalize their chartered flights.

We are closely working with their respective embassies now,” Camarin said.

Based on DOT-13 records, the stranded foreigners consisted of 26 Americans, 23 Australians, 19 Britons, 17 Canadians, 13 Germans, 10 Spaniards, 9 Swedes, 5 Italians, 4 Belgians, 4 Japanese, 3 Finnish nationals, 3 Swiss, 3 Austrians, 3 from the Netherlands, 3 Argentines, 2 French, 2 New Zealanders, 2 Norwegians, 2 Danes, 2 Malaysians, 2 South Africans, one Dutch, one South Korean, and one Cypriot.

Camarin said several stranded tourists were repatriated to Manila last month. (PNA)

possible. That’s because in the end, we are meant for a life of joy and bliss which, though fully fulfilled in heaven, can be sought here also on earth.

So, instead of being sore losers, let’s be a good sport, knowing fully well that our defeats and losses, setbacks, failures, disasters and crises are only temporal. They do not have the last word. It’s God’s love and mercy that has it.

Faithful... from page 4

experiences and legacies that unite them in their choice of stewardship over ownership of the enterprise. These values represent the kind of business culture in which the company operates and will define how the family will work to support the business’ future success.

When the shared vision is i nte r na l i z e d, t he j ou r ne y tow ard s g row t h c an n ow move forward by way of family commitment and strategic thinking.

To c o n c l u d e , a w e l l crafted family constitution (reinforced with a family council, assembly and the S h a re h o l d e r s a g re e m e nt ) t h at go e s b e yon d t wo to three generations towards the future can perpetuate a family business for a long time. It is therefore my wish that family business members should start the process now in order to ensure the legacy of the founders and the everlasting prosperity of the family and its businesses. Having a standalone Constitution devoid of any collective effort is empty and a complete waste of time and resources.

Challenge... from page 4

tennis, golf, horseback riding, swimming, basketball . . . and then cancer. At the end of her fight with this deadly disease, she called her husband to her bedside, took him by the hand and said: “Honey, I hope you’ll find someone to love you as much as I have loved you.” As her husband began to weep, she said: “It’s OK, dear.

While I’ve been in the hospital I have learned that a moment of true happiness is a lifetime, and I have had a lot of happiness.”

That is character and courage rising to the challenge. To give your life to loving others and your Cre ator is w hat life is all about. Jesus will enable you to take whatever problems and pain are thrown at you and use them to grow and live a life full of love, truth, peace, power, and purpose. From this day forward, won’t you choose to live your Maker’s way? Jesus will always be with you to guide and strengthen you to rise to every single challenge you face—big or small. Just think a minute . . .

Deed of Extrajudicial Partition of Estate Among Heirs That the late Spouses ESTEBAN BALTAZAR Sr. and REMEDIOS M. BALTAZAR who died intestate on 30 June 1997 and 6 October 1995 in Cagayan de Oro City, to the best of our knowledge and information, the deceased left no will and no known debts which have remained unpaid, the deceased at the time of their death left five parcels of land located at Gusa, Cagayan de Oro City which are more particularly described as follows: Original Certificate of title No. P-2542 situated in the Barrio of Gusa, City of Cagayan de Oro City, Island of Mindanao, containing an area of TWO THOUSAND EIGHT HUNDRED TWNETY EIGHT (2, 828) SQUARE METERS, Original Certificate of Title No. T-3972 situated in the Barrio of Gusa, City of Cagayan de Oro City, Island of Mindanao, containing an area of THREE HUNDRED EIGHT (308.50) SQUARE METERS and FIFTY DECIMETERS, more or less, Transfer Certificate of Title No. T-107716 situated in Barrio of Gusa, City of Cagayan de Oro City, Island of Mindanao, containing an area of SIX THOUSAND NINE HUNDRED NINETY TWO (6,992) SQUARE METERS, more or less, Transfer Certificate of Title No. T-107715 situated in Barrio of Gusa, City of Cagayan de Oro City, Island of Mindanao, containing an are of THREE HUNDRED FIFTY (350) SQUARE METERS, more or less, Transfer Certificate of Title No. T-107713 situated in Barrio of Gusa, City of Cagayan de Oro City, Island of Mindanao, containing an area of THREE HUNDRED NINETY (390) SQUARE METERS, more or less. And has been the subject of an Deed of Extrajudicial Partition of Estate Among Heirs, filed by the heirs of the Spouses ESTEBAN BALTAZAR Sr. and REMEDIOS M. BALTAZAR, per DOC #388; PAGE #63; BOOK #XV; Series of 2019 under the Notarial Registry of ATTY. ROBERT W. RAYPON.

Down... from page 4

DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd.,Cagayan de Oro City Tel. # (088) 231-2011

news agency, referring to the U.S. administration’s decision of travel advisor y to Europe.

Messina also said that such policies are too generic and not proven to be effective to contain the virus as these restrictions could c ompl i c ate t r avel for medical experts and deliver y of medical supplies.

The global travel industry is already crying out to governments to remove or simplify visas wherever possible, cut travel taxes and i nt r o d u c e i n c e nt i v e s onc e t he e pi d e m i c i s u n d e r c o nt r o l . Fr o m big to medium to small, a l l t r av e l a g e nt s a n d tour operators are tr ying to influence or manipulate their customers to postpone and reschedule, and not cancel their travel plans.

Loser... from page 4

we may actively submit ourselves to some personal mortifications. It is our duty to try to avoid suffering and to overcome it as soon as

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Friday | April 17, 2020

PARA SA BAYAN

Shell gives fuel discounts for everyone in Mindanao

With the number of confirmed COVID-19 cases climbing over a hundred in Mindanao, Pilipinas Shell has expanded its efforts in the region to improve public transportation and aid frontliners in their fight against a potentially severe outbreak in Mindanao.

With the number of confirmed COVID-19 cases climbing over a hundred in Mindanao, Pilipinas Shell has expanded its efforts in the region to improve public transportation and aid frontliners in their fight against a potentially severe outbreak in Mindanao.

Shell Fuel Discount

Ambulance Gasing Up at Shell

“The health and safety of our people, our customers, and the community are most important to us, and we continue to monitor the situation closely so we can respond to the needs of our kababayans,” said Pilipinas Shell CEO and Country Chairman Cesar Romero.

“As everyone plays their part in this fight against this pandemic, patuloy ninyong kasama ang Shell sa bawat biyahe ng buhay.”

Free fuel has been provided to two partner hospitals, Davao Doctors Hospital in Davao and Cagayan de Oro Polymedic Medical Plaza.

After identifying a mobility challenge in the area, Pilipinas Shell offered the fuel subsidy to its partners in order to aid the transportation of frontliners, the mobilization of ambulances, and other ongoing relief efforts.

As of the moment, there are also 61 Shell retail gas stations in Mindanao who are offering discounts on gasoline and diesel products not only for frontliners, but

for everyone making their journey on the road.

Shell’s gas stations have also starting donating water and food packs to nearby hospitals and frontliners from their Select convenience stores. One site in Davao has even set itself up as a donation hub where people can leave donations such as PPEs and food packs to be picked up by the Davao Task Force and delivered to hospitals.

Other stations have also started making face shields for frontliners and have donated them to Socomedics Hospital in Koronadal City as well as various checkpoints throughout Iligan City.

In an effort to help decongest traffic in supermarkets, Select stores have updated their product

offerings to provide basic needs to the public so they can continue to purchase crucial supplies while still maintaining appropriate social distancing.

Various retailer partners have also stepped up to provide additional support by offering free coffee, face masks, and snacks at their stations.

For 106 years, Shell as remained committed to be the country’s partner in nationbuilding. During this trying time, the company has made the Philippines’ mobility, health and safety, and energy security its top priorities.

It aims to help the nation weather today’s COVID-19 situation so it can be ready to progress again tomorrow.