BusinessWeek Mindanao (January 4, 2021)

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Briefly Niche exports THE Swiss Import Promotion Programme (SIPPO) has launched its studies on Philippine products with big market potential in European Free Trade Association (EFTA) countries — Iceland, Liechtenstein, Norway, and Switzerland.

Local agricultural products with export opportunities in EFTA and other European countries include value-added textiles, natural ingredients, and processed food.

In partnership with the Department of Trade and Industry (DTI), SIPPO’s market study aims to promote exports of these agricultural products and also to harness the potential of the free trade agreement (FTA) between the Philippines and EFTA.

New strain THE Philippines is closely monitoring the new coronavirus variant that emerged in the United Kingdom (UK) after the United States (US) reported its first case in Colorado, Malacañang said Wednesday.

“We are closely monitoring the situation in the United States (US) regarding the new Covid-19 strain in Colorado.

Concerned local officials are now studying this matter,” Presidential Spokesperson Harry Roque said in a statement.

Colorado Governor Jared Polis announced Tuesday that they discovered their first case of the Covid-19 variant B.1.17, the same strain of severe acute respiratory syndrome coronavirus 2 or SARS-CoV-2 discovered in the UK.

We strive for Excellence!

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

IN-DEPTH

Monday|January 4, 2021

P15.00

Moratorium may exempt coal expansion projects T Thank you for trusting us!

By MYRNA M. VELASCO, Contibutor

HE blueprinted expansion projects in coal-fired power installations are being mulled to be excluded from the coal moratorium declaration of the Department of Energy, according to Director Mario C. Marasigan of the agency’s Electric Power Industry Management Bureau.

SUNRISE. Picnickers come early, at about sunrise, on Wednesday (23 December 2020) to enjoy the beach at Amaya Resort, a hideaway in Datu Odin Sinsuat, Maguindanao. mindanews photo by jules l . benitez

He told reporters that coal expansion is are among the key points of contention still being fleshed out in the Circular that the DOE will be issuing relative to the coal moratorium declaration.

THE other ventures not covered by the moratorium are those that were classified “committed” projects; as well as the indicative projects that were already endorsed and

had so far started groundwork at project sites.

“Our hierarchy is: the committed projects that already have endorsements, then we have committed and indicative projects that already have permits, endorsements and groundwork; then we are looking into the expansion projects of existing plants,” he noted, as to the scope of EXPANSION/PAGE 7

Better BARMM investments seen with Cotabato City’s inclusion COTABATO City – Investment officials in the Bangsamoro Autonomous R e g i on i n Mu s l i m Mi n d an a o (BARMM) are optimistic that the formal inclusion of Cotabato City to the BARMM will boost the region’s investment prospects.

Lawyer Ishak Mastura, chair of Regional Board of Investments (RBOI), said cursory business surveys point out that Cotabato City, due to its strategic location is the “de facto” financial center of Central Mindanao, COTABATO/PAGE 7

Air travelers warned vs fake COVID test labs in Manila

By ANTONIO L. COLINA IV, MindaNews

DAVAO City – The local government has warned against fake laboratories in Manila offering cheap COVID-19 tests after finding out that most passengers who arrived at the Davao

International Airport since August with invalid test results were scammed, City Tourism and Operations Office head Generose Tecson said.

WARNED/PAGE 6

BUILD, BUILD, BUILD. On a holiday and a year that has just ended, others still have to earn their keep and build their community, as in the case of these workers in Tugbungan, Zamboanga City on Wednesday (30 December 2020). mindanews photo by jules l . benitez

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MONDAY|JANUARY 4, 2021

Balik Probinsiya' to resume early next year

D

By CHE PALICTE, PNA

AVAO CITY – Suspended in June this year, the Balik Probinsya, Bagong Pag-asa (BP2) program is set to resume early next year, an official said Wednesday.

In an interview, Marcelino Escalada, executive director of the program and general manager of the National Housing Authority, said it was put on hold to prioritize the return of stranded persons in the National Capital Region following the travel restrictions related to the coronavirus disease pandemic.

“I talked to Senator Christopher Lawrence Go and Executive Secretary Salvador Medialdea just this morning (Wednesday), and we decided to resume the rollout because a lot of our fellow Filipinos in Metro

Manila wanted to go home to their provinces,” he said.

Escalada said the local government units that have expressed readiness to welcome their returning residents include the province of Leyte, Tacloban City, Zamboanga del Norte, Zamboanga del Sur, Camarines Sur, Lanao del Norte, and Isabela.

Some 120,000 Manila residents have expressed the desire to return home to their respective provinces, Escalada said.

“We will just schedule it so that they can avail the free transportation, other programs and projects, and entitlements they

needed,” he added.

President Rodrigo Duterte approved the BP2 program -- a brainchild of Sen. Go -- to decongest Metro Manila and other urban centers and promote growth in the regions.

Under the program, recipients would receive government aid such as transportation, cash, and livelihood assistance.

The program, contained in Executive Order No. 114 signed

by President Duterte in May this year, aims “to ensure balanced regional development and equitable distribution of wealth, resources and opportunities through policies and programs that boost countryside development and inclusive growth, provide adequate social services, and promote full employment, industrialization and improved quality of life in rural areas." (PNA)

BALINGASAG, MISAMIS ORIENTAL National Highway Balingasag, Barangay 4, Balingasag, Misamis Oriental Mobile Number/s: 0933-823-3161, 0933-823-3304 Tel. Number: 333-5161 CAGAYAN DE ORO P&J Lim Building, Tiano Kalambagohan St., Barangay 14, Cagayan de Oro City, Misamis Oriental Tel No. (08822) 727-829 / 231-6629 Telefax No. (088) 856-1947 Mobile No. 0933-823-3303 / 0943-708-7065 CAGAYAN DE ORO WAREHOUSE Warehouse 7, Bonbon Road, Kauswagan, Cagayan de Oro City, Misamis Oriental Mobile No. 0917-825-4149 / 0943-708-7065 CARMEN, CAGAYAN DE ORO Vamenta Blvd., fronting CEPALCO, Carmen, Cagayan de Oro City, Misamis Oriental Tel. No. (088) 233-2011 Mobile No. 0933-823-3159 CORRALES, CDO Corrales Ave., Barangay 29, Cagayan de Oro City, Misamis Oriental Telefax No. (088) 231-2055

The Cagayan de Oro chapter of the Institute of Integrated Electrical Engineers of the Philippines led by chapter president Engr. Ferdie Bernasor (leftmost) lights up 18 households in Barangay 18 as part of its Balik Liwanag outreach together with the Office of the City Building Official. Receiving the symbolic lighting on behalf of the beneficiaries is city administrator Teddy Sabuga-a (rightmost). photo by mark francisco

DIVISORIA, CDO A. Velez St., Barangay 9, Cagayan de Oro City, Misamis Oriental Telefax No. (088) 856-1947 Mobile No. 0917-841-4000 / 0933-823-3164 GINGOOG CITY G/F Wyne Militante Bldg., Lugod St., Barangay 22, Gingoog City, Misamis Oriental Telefax No. (088) 861-0104 Mobile No. 0933-823-3168 LAPASAN, CDO National Highway (FICCO Bldg.), Lapasan, Cagayan de Oro City, Misamis Oriental Tel. No. (088) 231-6739 Mobile No. 0933-823-3160 PUERTO, CDO Purok 6, Puerto, Cagayan de Oro City, Misamis Oriental Tel. No. (088) 859-0574 Mobile No. 0943-708-7537 CAMIGUIN B. Aranas St., Poblacion, Mambajao, Camiguin Telefax No. (088) 387-0491 Mobile No. 0943-708-7539

Davao braces for post-holiday Covid surge DAVAO City – The city government is preparing for a possible spike of coronavirus disease (Covid-19) cases due to Christmas and New Year gatherings.

In a radio interview Monday, Mayor Sara

Z. Duterte reminded Dabawenyos to avoid mass gatherings and limit parties or gatherings within the same household.

“We were already told to prepare for a surge during the early part of December because of the gatherings of hard-headed people holding parties during the Christmas holidays.

We have prepared our facilities,” she said.

Dr. Ashley Lopez, the focal person of the City’s Covid-19 Task Force, said a surge in cases occurs if the number of positive cases in the city reaches up to 110 cases per day.

Still, Duterte expressed confidence that the city government has enough patient care centers in the event of a surge.

To date, the city government’s isolation facilities for probable and suspect cases, along with the temporary treatment and monitoring facilities (TTMF) for Covid-19 cases, have at least 1,284 available beds out of 2,194 total capacity.

The facilities are a mixed set-up of a hotel, public schools, gyms, and other facilities converted to patient care centers.

The mayor reiterated her appeal for Dabawenyos to continue following the health protocols, such as wearing face masks, face shields, safe physical distancing, and frequent BRACES/PAGE 7

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MONDAY|JANUARY 4, 2021

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CorporateWorld

PLDT, Smart secure ‘record’ permits in 2nd half of 2020

P

LDT and its wireless subsidiary Smart have secured a record number of permits to build and upgrade cell sites in the second half of 2020 following the signing of the Anti-Red Tape Authority’s (ARTA) Joint Memorandum Circular (JMC) on streamlining permits for common towers.

In a statement on Tuesday,

PLDT-Smart said over 2,500 permits to build cell sites were secured by Smart alone, with an additional 4,000 permits secured

by PLDT. “As of November, Smart has also increased the number of its base stations to over 58,000, increasing the number of base stations by 20 percent compared to end-2019. Smart has also rolled out additional 5G sites as

Indonesian firm exports 1st 3 locomotives to PH SURABAYA, E Java – State-owned train manufacturer PT INKA for the first time shipped three locomotives and 15 cars to the Philippines via the Tanjung Perak port in East Java on Saturday.

"The export of locomotives produced by Indonesian sons is the first of its kind," PT INKA president director Budi Noviantoro said while seeing off the consignment ordered by the Philippine National Railways (PNR) at the port.

The shipment followed

the signing of a contract between Philippine National Railway general manager Junn Magno and PT INKA’s Noviantoro in Manila on May 28, 2018 for the purchase of locomotives and cars worth USD26 million (PHP1.4 billion).

In December 2019, PT INKA exported two train sets of diesel multiple unit (DMU) worth USD9.7 million to the Philippines and four DMU train sets worth USD21.4 million in February 2020.

EXPORTS/PAGE 7

it accelerates its 5G commercial services nationwide,” PLDTSmart said.

Alfredo Panlilio, Smart president, CEO, and PLDT chief revenue officer, thanked the government for “making it easier” for the company to expand its reach and build out its network.

"Despite the challenges of Covid-19 and the lockdowns,

we managed to ramp up our network rollout, with the help of government,” Panlilio said.

To date, it said Smart has over 10,000 cell sites in the country, 700 of which were installed by the end of 2020 despite the restrictions and challenges brought by the Covid-19 pandemic.

Meanwhile, PLDT’s fiber infrastructure now spans

422,000 kilometers and is projected to reach 48 percent of the country’s cities and municipalities by the end of the year.

From 2015 to 2019, PLDT’s investments in capital expenditures (CAPEX) has reached P 260 billion, with the company’s CAPEX for 2020 alone projected to reach at least P70 billion. (PNA)

Phoenix Petroleum ends year with P4.25-B refinancing program DENNIS A. UY-LED Phoenix Petroleum Philippines, Inc. has closed the year with a P4.25-billion refinancing program, which included the settlement of P3 billion in short-term commercial papers (STCP) and the redemption of its P1.25billion preferred shares this month, the company said on Monday.

The firm’s STCP Series C, settled on Dec. 5, was refinanced by a long-term loan. It is eyed to enhance

Phoenix Petroleum’s liquidity profile while relieving pressure on immediate cash resources.

Meanwhile, the redemption of the third tranche series A (PNX3A) of its preferred shares, which was announced on Dec. 18, is expected to generate savings on the cost of capital, Phoenix Petroleum said.

“It has been a turbulent year, but we have been making headways in our engagements with

creditors, and are ending the year with renewed strength and positivity,” said Phoenix Petroleum President Henry Albert R. Fadullon.

He added that the company was making “significant progress” in ensuring the firm’s longterm viability, so the enterprise could “come out stronger and healthier” after the pandemic.

Phoenix Petroleum’s current financial management program

is supported by a capital-light expansion strategy that focused on partnerships and an integrated franchising model that covered its fuel and liquified petroleum gas products, convenience stores, and payments.

Last week, the firm asked for a voluntary trading suspension on its PNX3A preferred shares as Phoenix Petroleum said it needed to address concerns and questions on PHOENIX/PAGE 6

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Opinion

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Training for parents (Pt. 2) Think a minute . . . Yesterday we learned from the boiling frog that it is easy to become so accustomed and comfortable with our emotionally and spiritually unhealthy parenting habits that we do not see the dangerous direction we are leading our kids. Before it is too late, we need to start changing the negative, hurtful ways we may be raising and teaching them.

First, we learned not to use anger, yelling and nagging to train our children. It does not truly work, nor does it make a happy family.

Second, we parents must earn our child’s respect. It is easy to get your child to fear you, but it will take your time and love to earn their true respect. This is greatly important, because your child’s respect for your authority is going to determine his respect for all other kinds of authority: his school teachers, bosses, l aw s a n d g ov e r n m e nt , along with everyone else he will live and work with.

If you want your children to accept your authority and values when they are

THINK A MINUTE

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MONDAY|JANUARY 4, 2021

ALL GOOD INTENTIONS

We could spend all year living healthier, more productive lives, so why do we only decide to make the change at the start of EVERY year?

Why do we all make (and break) New Year resolutions?

Many of us will start 2021 with resolutions too - despite or because of the pandemic: to get fit, learn a new skill, eat differently. If we really want to do these things, why did we wait until an arbitrary date which marks nothing more important than a timekeeping convention?

British psychologist Tom Stafford asked this. And not only him. The answer tells us something important about the psychology of motivation, and about what popular theories of self-control miss out.

At bedtime you might

want to get up early and go for a run, but when your alarm goes off you find you actually want a lie-in. When exam day comes around you might want to be the kind of person who spent the afternoons studying, but on each of those afternoons you instead wanted to hang out with your friends on social networking.

You could see these contradictions as failures of our self-control: impulses for temporar y pleasures manage to somehow override our longer-term interests.

One fashionable theory of self-control, proposed by Roy Baumeister at Florida State University, is the 'ego-depletion' account.

This theory states that selfcontrol is like a muscle. This means you can exhaust it in

the short-term – meaning that every temptation you resist makes it more likely that you'll yield to the next temptation, even if it is a temptation to do something entirely different.

A corollary of the 'like a muscle' theory is that in the long term, you can strengthen your willpower with practice.

So, for example, Baumeister found that people who were assigned two weeks of trying to keep their back straight whenever possible showed improved willpower when asked back into the lab.

But, and more importantly, that theory doesn't give an explanation why we wait for New Year's Day to begin exerting our self-control. If your willpower is a muscle, you should start building it up as soon as possible, rather

HAVE MY SAY

KLAUS DORING than wait for an arbitrary date.

Another explanation may answer these questions, although it isn't as fashionable as ego-depletion. George Ainslie's book 'Breakdown of Will' puts forward a theory of self and self-control which uses game theory to explain why we have trouble with INTENTIONS/PAGE 7

Thru the collective power of the people

A Paradigm Shift Towards Social Transformation How time flies! Soon it will be 2021. So many things are happening now-a- days before you can even make a sense out of it, i.e COVID-19 pandemic, climate change, violent extremism, increasing inequities, etc. But while this may be so, yet, what is of substance is not just the unfolding of events as these may just be meaningless unless we subject them to some analyses and reflections.

There were awesome and amazing happenings in the past worthy of our utmost reflection, more on transformation not only on the changing of the dates but on what really matters: which is on the shift of paradigms and mindset.

Some four-score years ago during the height of the people’s struggle against British colonial rule in India, Mahatma Gandi’s “Satyagraha” (Love Force) approach to liberate his

people from the clutches of Imperialism had manifested a principle that was not given much attention then but is now reverberating throughout the world. Gandhi’s simple statement was, “If man has to be saved from doom, development must be in harmony with nature and not at its expense.”

In the Philippines, we have a more precise declaration f r o m a Lu m a d l e a d e r foretelling of an impending disaster if we continue on sacrificing nature in the name of so-called progress, “Only when you have cut the last tree, only when you have caught the last fish, only when you have dried the last river, only then will you realize that you cannot eat your money.”

An environmentalist from Canada has even a more horrible prediction, “At the rate we are destroying the ozone layer and the world’s resource base and subjecting

to extinction some 100 species of flora and fauna every day, what seems unimaginable may become possible, which is, the end of life on Earth.”

Soon it will be 2021 but we do not know anymore whether we can reach the 22nd century which is just 79 years from now. Every day, a thousand hectares of 386-meter high iceberg is melting contributing to the rising of the ocean level. For every one Celsius increase in global temperature, there will be a corresponding 10% reduction in food production.

As global warming goes up, insects’ bites will become more fatal.

In the light of the present ecological disasters we are now experiencing, we should now do some reflections with reference to the abovementioned warnings that have not been taken heedof at all. Have the loggers not decimated our forests?

KIM'S DREAM

ORLAN R. RAVANERA Have industries not treated bays and rivers as their waste pits? Have costly agricultural technologies tied-up to the use of heavy toxic chemicals not continuously promoted and practiced though there are more ecologically sustainable ways? And isn’t it that all of these were done in the name of development?

It behooves upon us now to examine the dominant paradigm, in whose name and for whose cause, advancing the common good has been SHIFT/PAGE 7

Devotion to the archangels JHAN TIAFAU HURST teenagers, you must first earn their respect by your daily good example during their younger years. As an expert family counselor says: “Rules without relationship bring rebellion.”

We parents can damage, even destroy, our children through overly strict, harsh and unloving punishment that hurts them emotionally through cruel, unkind words or even physical harm to our kids. A child should never be laughed at and his fe elings not va lue d and cared about by his or her father and mother. A parent who regularly hurts and humiliates their child will eventually lose their TRAINING/PAGE 7

WE have to p opularize this devotion some more.

The archangels are great allies that we can count on especially during our difficult moments. They are so close and so identified with God that we can refer to them as God’s organic or vital extensions of his own self, if we may describe them that.

Remember what Christ said about angels in general?

It was when he talked about the angels of little children whom the disciples wanted to shoo away from Christ for being a disturbance. “See that you do not despise one of these little ones,” he said.

“For I tell you that their angels in heaven always see the face of my Father in heaven.” (Mt 18,10) Angels, to be sure, are real beings. They are not fictional, figments of our imagination, projections of what we like to have.

They are pure spirits who have entirely identified themselves with God. They are not God themselves, but creatures of God who upon their creation have chosen to be with God for all eternity.

And among them are the archangels. They are specially chosen by God to undertake some special tasks. The Archangel Michael, for example, whose name means “He who is like God” led in the fight against Satan and all the devils.

He will be most helpful to us in our lifelong struggle against temptations and sin that nowadays are getting more subtle, daunting and irresistible.

And let’s remember what St. Paul said about whom we are up against. “Our struggle is not against flesh and blood, but against the rulers, against the authorities, against the powers of this

dark world and against the spiritual forces of evil in the heavenly realms.” (Eph 6,12) The Archangel Gabriel, whose name means “God’s strength,” would be most helpful to us in knowing God’s concrete will and mission for us. He was the one who announced to both St. Zachary and Our Lady about the birth of their respective child.

He will also be helpful to us in facilitating our communication with everybody else. We cannot d e ny t h a t d e s p i t e t h e tremendous communication technologies we are enjoying these days, we still are bothered by miscommunication, misinformation and the like. He will help us be faithful always to the truth that will always have to be delivered with charity.

The Archangel Raphael,

HINTS AND TRACES

ROY CIMAGALA whose name means “God’s remedy,” was the one who helped the youth Tobias to carry out the errand of his father and to meet his wife and rid her of demonic possession, as well as healing t he blindness of Tobit, Tobias’ father. (cfr. Tobit 12) We can just imagine what he can do for us!

It’s important that we be aware of the existence of t hes e ver y p ower f u l archangels who, for sure, DEVOTION/PAGE 7

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MONDAY|JANUARY 4, 2021

BSP OKs new regulatory relief for savings and loan associations THE BANGKO Sentral ng Pilipinas (BSP) will allow non-stock savings and loan associations (NSSLAs) to include accrued interest on some loans in their 2020 net profit, for the purpose of income distribution to members, as a way to extend relief to the industry during the pandemic.

Memorandum No. M-2020-088 signed by BSP Deputy Governor Chuchi G. Fonacier on Dec. 9 said the Monetary Board will allow NSSLAs to recognize as income their accrued interest on members’ unclassified loans outstanding from Sept. 15 to Dec. 31, net of general allowance for credit losses (ACL) of one percent of outstanding accrued interest receivable.

The period falls under the one-time 60-day loan moratorium provided by Republic Act No. 11494 or the Bayanihan to Recover as One Act. In order be eligible, the Board of Trustees of an NSSLA should submit a certification of accuracy and integrity of income recognition that will be verified by the BSP in their next on-site examination.

Likewise, availing

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Banking&Finance

the measure will only be allowed if the distribution of accrued interest income net of ACL will not result in insufficiency of funds, borrowing to finance the net income distribution, restricted lending activities, or liquidity issues.

NSSLAs should also have no deficiency in ACL on loans and other risk assets, based on its latest approved report of examination.

NSSLAs interested to avail of the relief measure can submit the necessary requirements to the BSP’s Financial Supervision Department until Dec. 31.

NSSLAs gather deposits from their members which are then utilized to disburse loans meant to finance personal and home building expenses exclusive for military and uniformed personnel, teachers, employees, and market vendors, among others.

Cumulatively, these non-stock corporations service 1.4 million members across the country.

BSP Governor Benjamin E. Diokno has said they expect NSSLAs RELIEF/PAGE 6

Reduction in BSP rates possible in Q1 '21: reports A NZ Research forecasts a further reduction of 25 basis points in the Bangko Sentral ng Pilipinas’ (BSP) key policy rates in the first quarter this year as the economic recovery continues to face challenges.

In a report dated Dec.17, the markets and economic research provider said the uncertain economic environment has affected consumer and

business confidence thus, the slow pass-through rate of the total of 200 basis points reduction in the BSP’s key rates last year.

This situation, it said, made monetary policy transmission ineffective to date.

It also noted, “despite negative real interest rates, credit growth has been weak across households and businesses”.

The BSP has reported a slowdown to 1.9 percent of universal and commercial

banks’ loan growth, excluding placement in the central bank’s reverse repurchase (RRP) facility, last October from 2.6 percent in the previous month.

It attributed this development to “combined effects of muted business confidence and banks’ stricter loan standards attributed mainly to continued disruptions in business operations.”

ANZ Research said domestic sentiments

have improved but weak export growth and labor market and continued repatriation of overseas Filipino workers (OFWs), which affects consumer demand, dampen recovery opportunities.

“The economic recovery has a long way to go and therefore, in our view, the rate cut cycle is not yet over, with another 25 bps cut likely in Q1 2021,” it added.

Rizal Commercial REDUCTION/PAGE 6

SSS contribution rate hike to offset pension increase, prolong fund life THE HIKE in the Social Security System’s (SSS) contribution rate is meant to guard the fund’s longterm viability and to offset the increase in monthly pension implemented in 2017, the state-run pension fund said.

SSS announced it will push through with the scheduled hike in the monthly contribution rate to 13% of members’ respective salary starting

January from 12% currently.

“We understand the plight of our pensioners and recognize the good intention of the P1,000 second tranche additional monthly benefit, but without any additional funding, this would significantly reduce the SSS fund life,” SSS President and Chief Executive Officer Aurora C. Ignacio said in an

If interested, contact:

online briefing.

“Historically, from 1980 to 2016, the contribution rate was only increased four times while pensions increased 22 times,” she added.

Ms. Ignacio said the additional one percent will be equally shared by the employer and the employee, with each of them spending an additional 0.5% for the monthly contribution.

DANICA SUDARIA

The higher contribution rate is part of reforms under Republic Act No. 11199 or the Social Security Act of 2018.

Meanwhile, SSS contribution collections in the 10 months ended October went down 5.4% to P169.73 billion from P179.34 billion a year ago.

“Any drop in collections may lead to SSS/PAGE 6

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MONDAY|JANUARY 4, 2021

Phoenix... from page 3

CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City 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

their settlement.

On Dec. 22, the company said in a regulatory filing that it “substantially complied” with all the terms and conditions of its PNX3A shares offering, and that there were no unpaid dividends.

MAINthe BRANCH CDO During third quarter, P & J Lim Bldg., Tiano Brothers Phoenix Petroleum reported Kalambagohan Sts., a net income of P296 million, Tel. # (08822) 727-829 * a reversal its P5-million Telefax #from (088) 856-1947 loss in the second. Overall volume sales grew 42% CAMIGUIN BRANCH from JulySt.,to September, B. Aranas Poblacion, Mambajao, Camiguin following the recovery of its Tel. business # (088) 387-0491 local amid relaxed quarantine protocols as CORRALES BRANCH well as tripled sales in other Corrales Ave., countries.

Cagayan de Oro City Shares in Phoenix Petroleum on Monday shed 3.22% to close at P12.02 apiece.

Relief... from page 5

to exhibit sustained profitability and a stable performance despite headwinds caused by the coronavirus pandemic.

In August, the central bank issued tighter measures for “complex” NSSLAs or those with total assets of at least P5 billion.

The NSSLA industry’s assets stood at P260.2 billion as of end-2019, climbing by 19.9% from the end-2018 level of P226.4 billion. A huge chunk or about P205.5 billion of their assets are loans.

SSS...

from page 5

cash flow and liquidity issues.

This could endanger the SSS’ ability to provide its members and their beneficiaries with benefits and loan privileges,” Finance Secretary Carlos G. Dominguez III said in a statement.

Despite the drop in collections, the pension fund’s investments remain wellmanaged, with the agency able to respond to members’ needs, he said.

SSS said it is also launching its Workers’ Investment and Savings Program for members with salaries in excess of P20,000 up to those with the

Warned... from page 1

In a text message Tuesday, Tecson said that of the 21 passengers who were caught with invalid reverse transcription-polymerase chain reaction (RT-PCR) test results, 18 were scammed.

Te c s o n , c o n c u r r e n t head of the Airport Health Monitoring Team, said in an interview over Davao City Disaster Radio (DCDR 87.5) that scammers offered to get the swabbing done at the residence of their clients for as low as P1,000 without issuing official receipts.

The local government re qu i re d i n c om i n g ai r travelers to present negative RT-PCR test results taken within 24 to 48 hours at their place of origin before their scheduled flight, or subject themselves to free testing upon their arrival

maximum monthly salary credit of P25,000. Members that fall under the bracket will automatically have a portion of their contributions going into the new investment scheme.

“For example, under the P25,000 monthly salary credit, a member who will be paying the new monthly contribution DIVISORIA BRANCH of 13% rate will actually shell Atty.

Erasmo B. Damasing out P3,250, of whichBldg., P2,600 #61 Don A. Velez St., will go to the Regular Social Cagayan de Oro City Security Fund (RSSF) and Tel. # (088) 857-3631 the remaining P650 to the Workers’ Investment and LAPASAN BRANCH Savings Program,” SSS said.

Lapasan Hi-way,

Reduction...

Cagayan de Oro City Tel. # (088) 231-6739

from page 5

CARMEN BRANCH Banking Corporation (RCBC) Vamenta Blvd.,Cagayan de Oro City chief economist Michael Tel. # (088) 231-2011

R ic afor t a ls o fore c ast s possible cuts in the BSP’s key rates this year even with the recent uptick in the domestic inflation rate.

He said the 21-month high inflation rate of 3.3 percent last November, which was traced to the impact of Typhoons Ulysses and Rolly on some agricultural products, makes any cut in the central bank’s policy rates “somewhat challenging now.”

He, however, projects in f l at ion to e as e f rom December last year until February this year to over 2 percent.

This, he said, “could still support any additional monetary easing measures, going forward.”

Average inflation in the first 11 months this year stood at 2.6 percent, within the government’s 2-4 percent target band until 2022.

The BSP has revised upwards its average inflation forecast for this year and next year to 2.6 percent and 3.2 percent, respectively, but kept the 2022 forecast at 2.9 percent.

The previous 2020 forecast is 2.4 percent while the 2021 forecast was 2.7 percent.

“Inflation could fundamentally pick up in 2021 especially if economic recovery picks up further, especially with any additional measures to further reopen the economy especially if the Covid-19 (coronavirus at the DIA. The official added that airport authorities were unable to verify their falsified test results with COVID-19 laboratories in Manila.

“What happened was, they were given a test result with a QR code. But when you scan it, it would provide you with a name of a different person.

Others don’t have a QR code, but you can see already from the letterhead and format that it is not something that we normally encounter in the airport. We verify all of these in the laboratories in Manila,” she said.

She said some of the victims claimed they got swabbed by agents of the Philippine Red Cross (PRC) Molecular Laboratory. “ The Philippine Red Cross does not have an agency. If you were told by the agency, you should be doubtful already. It is better

disease 2019) vaccine rolls out in 2021 that could help lower new Covid-19 local cases (from the current 1,000 per day levels recently), increased infrastructure spending, and lower base/denominator e f fe c t s st ar t i ng March

2021 or exactly a year after the Covid-19 lockdowns/ pandemic started (that would mathematically lead to higher year-on-year inflation rate thereafter, assuming all other factors remain the same),” he added. (PNA)

DBP inks P416-M credit deal with local iron ore mining giant MANILA – State-owned Development Bank of the Philippines (DBP) has granted a PHP416million credit line to the country’s first large-scale offshore mining company to augment its working capital requirements in its export production of iron ore, a top official said.

DBP President and Chief Executive Officer Emmanuel G. Herbosa said the bank’s assistance to JDVC Resources Corporation is expected to boost local production efficiency of the essential mineral and meet the expected rise in demand in anticipation of a global economic recovery.

“Supporting businesses that are commercially viable yet ecologically sound form part of our aggressive drive to deliver and usher in further economic growth in the country,” Herbosa said.

DBP is the seventh largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy -- infrastructure and logistics; micro, small and medium enterprises; social services and community development; and the environment.

JDVC is the Philippines’ first largescale offshore iron sand (Fe3O4) mining company operating in Cagayan province. It

that you personally go to the laboratories,” she said.

Na m e s of P R C a n d Philippine Airport Diagnostic Laboratory were often used by scammers to lure air travelers, she added.

Out of the 21 passengers, only one was a resident of Davao City. None of them tested positive for COVID-19 during their testing at the airport, according to Tecson.

She reminded the public to avoid suspicious individuals offering COVID-19 tests to prevent waste of money.

She said cases of falsification of documents have been filed against three individuals who deliberately forged their virus test results, including P/Lt. Joy Line Cumbao, a forensic officer assigned at the Philippine Nat i on a l Pol i c e C r i me Laboratory-Davao.

Cumbao, who is facing dismissal from police service

holds a 25-year Mineral Production Sharing Agreement with the national government for a mining concession and commercial extraction of minerals such as magnetite iron sand, titanium, vanadium, and other valuable minerals.

Herbosa added that unlike onshore mining that involves heavy earth movements, offshore mining is done through the use of an environmentally-safe and ecologically-balanced siphoning vessel with an advanced technology system for the mining of minerals located under the sea.

He said JDVC is the first firm to be granted a Declaration of Mining Project Feasibility by the Department of Environment and Natural Resources which authorized the extraction and commercial disposition of magnetite sand and associated minerals in an initial area of over 1,902 hectares in Cagayan.

“We are confident about the long-term economic benefits that may be reaped from this notable project that will buttress the growth of the local steel industry. Rest assured that DBP will continue ensuring that its funded projects are always vetted in terms of potential environmental and economic impacts,” Herbosa added. (PR)

for grave misconduct and dishonesty, presented a falsified virus test result upon her arrival at the DIA last December 10, but no record of such test was found when the local government verified it with Camp Crame, Tecson said.

“It’s really dangerous when they get used to faking (a virus test). I know most of them did what they did so that they could leave the airport right away,” she said.

As of Decemb er 23, Depar tment of HealthDavao reported a total of 11,839 COVID-19 cases in the region, with 1,857 active ones, 9,516 recoveries and 466 deaths.

Of the total cases, Davao City reported 8,348, Davao de Oro 581, Davao del Norte 1,423, Davao del Sur 843, Davao Occidental 122, and Davao Oriental 522. (Antonio L. Colina IV/MindaNews)

7

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Training...

destroys everything it finds on dates but on paradigm has in it path, i.e., rivers, bays, indeed come of age. from page 4 forests, agricultural lands, That imperative paradigm child’s love and respect for communities, indigenous shif t is now unfolding them. The child will fear cultures, etc. It continues t h rou g h t he c ol l e c t ive you enough to obey you building military arsenals power of the people through when they are young, but capable of killing mankind cooperativism. But such can later as a young adult they forty times over. Because of only happen when the people may deeply resent you for it, we are now losing Mother are awakened from their deep years, even their lifetime. Earth, that is, if we have not slumber, buried in so much unconsciousness, controlled A t h i r d i m p o r t a n t lost Her already. principle is to show your That economic system by the ego-ic mind. The new love to your child after you oftentimes follows trickle- consciousness will connect have needed to discipline down approach described, us to the Unmanifested, to and punish him. Let him that as if, we allow sparrows the Inner Being that is within know that you will always to pick on something that has each one of us. When that accept him, even if you already passed the digestive happens, there will be a new do not approve of his bad tracts of cattle.We cannot earth and a new heaven and b e h av i or an d att itu d e . continue on pursuing the the divine purpose of the Remember, punishment is unsustainable pattern of universe will unfold through not something we do TO resource exploitation that us. That’s how important we our child, but something only survives by whetting all are! we do FOR our child, so the consumerist appetite that he can build real happiness has produced a throw-away and success from his good materialistic, consumerist from page 4 character we have helped society. The message has would be most willing and him develop. That is how always been, spend, buy this, most happy to help us in we communicate to our buy that, so that you will be their own way. We just have child: “I love you too much happy. In a world so enamored to enliven our faith in them to let you think and behave in the profit-motive that and develop the appropriate wrongly.”Love should be the has already captured the devotion. reason for everything we mindset of all governments, Many great saints have say and do with our child. all institutions, all universities benefited from the help Today, won’t you ask and even of religious groups, of these archangels. For Jesus to forgive you for there is so much denigration one, St. Josemaria Escriva, your mistakes as a parent? of spirituality making the the founder of Opus Dei, Globe myBusiness Then ask Him to help you homo sapiens the most flawed e nt r u s t e d t o t h e m t h e love and teach your children species of God’s creation that tremendous apostolic work brought together the way they need and are has caused more than one he and the faithful of Opus expert designed for.speakers Just think a hundred million killed of Dei have to carry out till to talk its own kind in the last 120 the end of time. minute . . . about years. Mankind (the homo It would be good if we telemedicine and sapiens) is now killing Mother train ourselves to develop how from page 4businesses Earth (Gaia)! an intimate relationship can stayandafloat our impulses, why our Mankind has sacrificed with them. To be sure, only attempts to control them take Gaia to the altar of greed good things can come out throughout the and profit. As you spend, of such a relationship! the form they do.

The virgin new normal page of a new calendar marks the economy will prosper, Email: roycimagala@ a clean break between the old then, you will have more gmail.com and new you - a psychological money. And because you boundary that may help you have now money, you can buy more and more. What from page 2 keep your resolutions.

And, so to speak with to buy? All that the modern handwashing.

Tom Stafford again, Ainslie technologies can offer in The latest Department gives us an answer to why efficiently exploiting our non- of He a lt h ( D OH ) d at a our resolutions start always renewable resources from the showed that 60 new cases on 1st of January. The date bosom of Mother Earth. That of Covid-19 were recorded is completely arbitrar y, is the meaning of extractive as of December 28, which but it provides a clean line and consumerist. That is the showed an increase from between our old and new meaning of the money-must- the 42 cases recorded in selves. The practical upshot grow principle. It is “pacman- the previous day. of the theory is that if you like” diabolical monster Lopez made assurances make a resolution, you should gulping-up everything it sees the city government would formulate it so that at every --the forest, mega-diversity, not take chances, noting point in time it is absolutely the ozone layer and even all that health experts have clear whether you are sticking life-forms on Earth. predicted a surge during to it or not. The clear lines are And because we have the incubation period of the arbitrary, but they help the allowed that at the expense of virus, "or the post-holiday truce between our competing our spirituality and that of the season, after New Year.”

Earth, nature’s fury is upon (PNA) interests hold.

Good luck for your 2021 us now! That love-force of resolutions! But the most Gandhi, that pure spirituality important thing for all of us of our Indigenous People from page 1 that gives high adherence projects that shall not be is to stay healthy. to the Laws of Nature, that covered by the moratorium. +++ Email: doringklaus@gmail. ecological warning from a On expansion ventures, com or follow me on Facebook, Canadian Environmentalist, he expounded that what’s Linkedin or Twitter or visit must now change our mindset. being scrutinized by the www.germanexpatinthephilip- Only then can we be saved DOE is if these were part of pines.blogspot.com or www. from doom! That kind of the original proposed plans klausdoringsclassicalmusic. reflection of change not only of the project sponsors – but blogspot.com.

Devotion...

Intentions...

Braces...

Expansion...

Shift... from page 4

pursued but has only been successful in inf licting massive destr uc tion to the ecosystems, our very means to life. That kind of “development” is anchored on growth-at-all-cost strategies; it is extractive as it is consumerist, based on the “money-must-grow” principle.

That paradigm is now described as a giant offbalance. So as not to fall, it must run. And in running, it

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if not, then they shall be disqualified.

In the updated Power Development Plan (PDP), targeted coal project installations to year 2030 would still hover at 9,550 megawatts – although the bu i l d - up i s app are nt ly c om i n g at a re l at i v e l y slow pace versus ot her technologies like gas and renewables.

Marasigan s aid t he energy department has not come up with any definitive list yet which power projects shall be excluded and which shall be covered by the moratorium, hence, the draft Circular to be issued by the DOE on this is still being fine-tuned.

“We have continuing simulations because there are existing projects with expansion plans, so we have to determine if the expansion projects are really part of the original plan and that they’re not just trying to evade the moratorium,” Marasigan said.

Energy Secretary Alfonso G. Cusi said he already approved the draft of the Circular for the moratorium, but he admitted the final form is still formulated by relevant bureaus at the department.

“The Circular is still being edited. What I approved was the draft and it’s still being edited,” he indicated, while also noting that the department’s preference now is a Circular issuance instead of the earlier plan of just issuing an advisory.

At this stage, the energy chief reiterated “basically, we’re not accepting anymore any new applications – we’re just processing now the committed projects as part of our PEP (Philippine Energy Plan), our national power development program until 2040.”

Cusi nevertheless admitted that since the coal moratorium will just be firmed up through a Circular, that can easily be changed or revoked by his successor.

“That will depend on the next administration. What we do here is not a law. If they (next administration) will open it, there’s nothing we can do about it,” he stressed.

Cotabato... from page 1

having the most number of banks and bank branches in the area.

“Cotabato City even has its own Central Bank regional office, which many other similar-sized cities cannot boast of,” Mastura said in a statement Tuesday.

Mastura said BARMM is considered the most underbanked region in the country with only the government-owned Land Bank of the Philippines (LBP) having the most branches in the region.

While LBP recently opened its first bank in Lamitan City, Basilan, it already operates three branches in Cotabato City.

“Now t hat C ot abato City is expected to soon become part of the region, the banking profile of BARMM would improve dramatically,” Mastura said.

Cotabato City has the most number of banks and bank branches in the region.

About one-third of all banks in the region are situated in the city. “ These factors make Cotabato City the natural financial center of BARMM,” Mastura said.

The city has long been serving as the provisional capital of BARMM with the Bangsamoro government complex located in the city. “ Wi t h t h e BA R M M government having an annual block grant amounting to PHP70 billion this year and PHP75 billion next year going through the banking system in Cotabato City, this volume of money alone cements its role as the financial center of the region,” he said.

B esides, government funds also go through the city to service the needs of the military in the region with the 6th Infantry Division, one of the Armed Forces of the Philippines’ biggest divisions in terms of personnel and material res ources and budget, located in the vicinity.

International donors and official development assistance from foreign aid agencies including the agencies of the United Nations, which have programs to assist the BARMM, also course their money through the city’s financial ecosystem

internationalizing its fund sources further.

This is aside from the huge remittances flowing to its banks from overseas Filipino workers, of which Central Mindanao is a top recruiter and source for several years now, particularly for those bound for the Middle East.

Mastura also said his agency is promoting Cotabato City as the Islamic banking and finance hub not only of the region but also of the country.

“Under the Investment Priority Plan 2020 recently signed by President Rodrigo Duterte, only investment operations in the BARMM of Islamic banks and financial institutions can enjoy fiscal incentives from RBOI, such as Income Tax Holidays and Reduced Duties and Tariffs for imported capital equipment,” Mastura said.

Currently, the Al-Amanah Islamic Investment Bank is the only Islamic bank that operates in the country and has a branch in Cotabato City.

This is set to change with last year’s passage of Republic Act 11439 or the Philippine Islamic Banking Act. “Together with RBOI Board of Governor Mohamad Pasigan, we recently talked with the Malaysian Ambassador to the Philippines in order for MayBank, which is Malaysian-owned and its biggest bank, to open a branch in Cotabato City and eventually for its Islamic banking subsidiary, MayBank Islamic, the largest Islamic bank in Asean, to follow shortly,” he said. (PNA)

Exports... from page 3

"The export of locomotives to the Philippines is (part of) the implementation of the SOE Go Global (program). It also proves the existence of PT INKA and the continuation of SOEs in the midst of the Covid-19 pandemic," Noviantoro said.

Taufiek Bawazier, director general of metal, transportation mode and electronic industry at the Industry Ministry, urged PT INKA to strengthen innovation with the help of digitalization to artificial intelligence.

That would help PT INKA compete with foreign rivals, particularly in the Southeast Asian market, he said. (Antara)

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NGCP continues annual Christmas outreach, relief ops despite pandemic

D

ESPITE the COVID-19 pandemic, NGCP continued on with its annual gift-giving tradition to its partner communities through its Christmasaya project, alongside relief operations for areas affected by the recent

typhoons.

Instead of the usual Christmas party with games, prizes, and entertainment, NGCP turned over Christmas packages to barangays from NGCP’s host communities, which were then distributed to the most indigent families in

the area.

A total of 7,100 Christmas packages were distributed to around 33 barangays from NGCP’s host communities nationwide. The Christmas packages contain rice, noche buena items, coffee, and canned goods.

Essential items such as rice, canned goods, and t-shirts are part of NGCP’s relief assistance for typhoon-affected communities

Despite the pandemic, the annual Christmasaya gift-giving continued with the help of partner-barangays nationwide.

“Christmas is all about sharing. Times may have changed under the new normal, but this will not stop NGCP from giving back to its host communities. We hope this will give the most indigent families more reasons to celebrate the holidays,” said NGCP. Besides the Christmas giftgiving, NGCP also continues

with its relief assistance to provinces in the Bicol Region, Southern Tagalog, Cagayan, Isabela, Agusan del Sur, and Surigao del Sur affected by the recent typhoons Rolly, Ulysses, and Vicky. Grocery items amounting to over PhP 37 million and t-shirts were turned over to the provincial governments for distribution to

communities heavily affected by the weather disturbances.

NGCP is a Filipino-led, privately owned company in charge of operating, maintaining, and developing the country’s power grid, led by majority shareholders and Vice Chairman of the Board Henry Sy, Jr. and Co-Vice Chairman Robert Coyiuto, Jr.