Issuu

Rody pleads for 3rd world Implores UN: Poor countries must have access to life-saving vaccines By Vito Barcelo and Willie Casas

NY NOTES.

President Rodrigo Roa Duterte delivers his remarks during the 31st Special Session of the United Nations General Assembly ( in response to the coronavirus disease (COVID-19) pandemic via virtual convention from the UN Headquarters in New York on December 3, 2020 (NY date).

AYING “no one is safe unless everyone is safe,” President Rodrigo Duterte told the United Nations General Assembly’s special session on COVID-19 that leaving poor countries out of vaccine distribution would be a “gross injustice.”

“The Philippines wants to ensure the swift and unimpeded provision of medical care to all Filipinos, especially the most vulnerable,” Duterte said. “If any country is excluded by reason of poverty or strategic unimportance, this gross injustice will haunt the world for a long time. It will completely discredit the values upon which the United Nations was founded,” he said. “We cannot let this happen. No one

• Lowest cases since July • Curbs may get prolonged to 436,345. THE Philippines The Department logged 934 new of Health reported COVID-19 cases 148 new recoverFriday, the lowest ies, bringing to single-day record 399,457 the number of patients who since July. The new cases bring the total number have recovered from the disease. These of infections since the pandemic began Next page

LOCAL ROUNDUP

VOL. XXXIV • NO. 274 • 3 SECTIONS 12 PAGES • P18 • SATURDAY, DECEMBER 5, 2020 • www.manilastandard.net • mst.daydesk@gmail.com

Comelec affirms bid to disqualify Gabriela for ‘supporting terror’

COVID-19 PH AT A GLANCE

(AS OF 4 PM DECEMBER 4)

436,345 TOTAL NUMBER OF CASES

934

28,379

8,509

399,457

148

NEW

DEATHS

RECOVERIES

By Rio N. Araja and Macon Ramos-Araneta

ACTIVE

NEW

WORLD ROUNDUP

SUPERKID.

A 15-year-old scientist and inventor from Colorado, USA, Gitanjali Rao has been named the first-ever “Kid of the Year” by Time Magazine. Rao, who appears on the cover of Time’s December 14, 2020 issue has been selected from a field of more than 5,000 nominees. Her latest innovation is an app that helps detect cyberbullying at an early stage.

• 65m virus cases • US still tops MORE than 65 million cases of the novel coronavirus have been detected worldwide, according to a tally from official sources compiled by AFP on Friday. In total, 65,084,394 cases, leading to 1,504,984 deaths, have been recorded around the world since the virus emerged in China late last year. The rise can be explained only in part by increased testing, with Europe and the United States confronted by a major new wave of infections. Europe, with more than 19 million confirmed cases including 430,000 fatalities, remains the region with the most infections. Over the past week, almost 1.7 million new infections have been recorded in 52 European countries, a similar level to the prior seven days. The United States has recorded over 14 million infections (including 276,000 deaths) – a fifth of the global total. Next page

THE Commission on Elections (Comelec) has upheld a government anti-insurgency body’s petition seeking the cancellation of the Gabriela Women’s Party’s registration in the party-list system for violations of the election law and the Constitution. In an order dated Nov. 27 and signed by presiding Commissioner Socorro B. Inting, the Comelec’s Second Division ruled that the National Task Force to End Local Communist Armed Conflict (NTF-ELCAC) had the legal standing to file a petition to void the registration of Gabriela Women’s Party for receiving foreign government funding and supporting terrorists’ activities. The NTF-ELCAC, which was created under Executive Order No. 70 adopting a whole-of-approach against insurgency, also named Gabriela, Inc. and General Assembly of Next page

Court rebuffs De Lima for ‘inaccurate claims’ By Rey E. Requejo THE Muntinlupa City Regional Trial Court has reprimanded detained Senator Leila De Lima and her lawyers for allegedly “twisting facts or inaccurate claims” before the media, in connection with the court proceedings involving the illegal drug trade case filed by the Department of Justice against the opposition lawmaker. “The RTC judge has reprimanded Sen. De Lima’s defense lawyers for twisting facts or inaccurate claims before the media,” court sources revealed. The warning was made by the judge during a hearing last week. Next page

Gov’t forces hunt down BIFF who attacked Maguindanao town COTABATO CITY—Military and police troops are hunting down suspected Bangsamoro Islamic Freedom Fighters (BIFF) terrorists who attacked the town proper of Datu Piang shortly before

midnight Thursday. Maj. Gen. Juvymax Uy, Army’s 6th Infantry Division commander, said they had secured the municipality after receiving calls for assistance from local

Love and cargo scams abound, Justice warns By Rey E. Requejo THE Department of Justice-Office of Cybercrime has warned the public against falling victim to the “love and cargo” scam. Next page

officials around 11:30 p.m. military-led Joint Task Force Central, told “We immediately responded after reporters in an interview Friday. learning that they are only a bunch of “We have controlled the situation,” policemen assigned to the municipal po- he added. lice office,” Uy, concurrent chief of the Next page

FAILED RAID. Policemen led by Brig. Gen. Samuel P. Rodriguez inspect the patrol vehicle which 50 marauders allegedly belonging to the BIFF and IS-inspired Dawlah Islamiyah set on fire during a failed attempt to take over the municipality of Datu Piyang in Maguindanao. Town cops repulsed the raiders who fled after a brief firefight.

News

SATURDAY, DECEMBER 5, 2020

mst.daydesk@gmail.com

House okays anti-drug abuse bill By Maricel V. Cruz

HE House of Representatives has approved on third and final reading the bill institutionalizing the creation of Anti-Drug Abuse Councils in all provinces, cities, municipalities and barangays all over the country. Surigao del Norte Rep. Robert Ace Barbers, principal author of HB 7812, welcomed the bill’s approval. Once enacted, Barbers said the concerned local governments shall be mandated to appropriate no less than 2 percent of their budgets to fund the creation and operations of the ADACs and Anti-Drug Abuse Offices (ADAOs). “The ADAOs shall serve as the ADACs secretariat in charge of unify-

ing and consolidating all local antiillegal drug programs, projects and activities and institutionalizing all of ADACs’ activities,” he said. To activate, strengthen and ensure their functionality, the governors, city and town mayors, and barangay captains, all tasked to head the local ADACs, were mandated with clear, specific guidelines and processes, including their duties and responsibilities in the prevention, moni-

Local... From A1

Rody... From A1

account for 91.5 percent of the total number of cases. The DOH also logged 63 new fatalities bringing the death toll to 8,509, which is 1.95 percent of the total number of cases. There are still 28,379 active cases undergoing treatment or quarantine. This is 6.5 percent of the total cases. Among these, 85.4 percent are mild, 6.9 percent are asymptomatic, 2.5 percent are severe, 4.9 percent are critical, and 0.28 percent are in moderate condition.

safe unless everyone is safe,” he added. He asked that life-saving services and products be made accessible to the most vulnerable: “The most to the least.” “Our first priority is to strengthen the capacity of health systems. Without a cure and a vaccine, we can only delay the spread of the disease while we reopen our economies,” Duterte said. While he recognized how the pandemic showed the weaknesses of institutions, Duterte also noted the advantages of lockdowns imposed to curb the virus spread. “Lockdowns have forced us to take full advantage of technology and innovation. It has sped up the adoption of ecommerce, e-learning, videoconferencing, and artificial intelligence,” he said. The Philippines has been subjected to various levels of community quarantine since March to prevent coronavirus transmission while also slowly reopening the economy. Duterte reaffirmed that the Philippines will do its part by contributing to the pooling of global resources and helping other countries without preconditions. “Together with our brothers in Asean and the Non-Aligned Movement, the Philippines supports a global health agenda with adequate resourcing and

Restrictions lifted by 3Q 2021

THE government plans to lift COVID-19 quarantine protocols in the entire country by the third quarter of 2021, Health Undersecretary Maria Rosario Vergeire said Friday. Vergeire’s remark was made in response to the comment of National Economic and Development Authority (NEDA) Director General Karl Chua that the country is expected to stay under quarantine protocols for the whole of next year. Vergeire said the key to faster transition to the new normal is strengthened local government units’ gatekeeping components such as surveillance, contact tracing, quarantine facilities, and COVID testing efforts so they can transition to a more relaxed modified general community quarantine (MGCQ) by the second quarter of 2021.

World... From A1

toring and rehabilitation of drug dependency cases in their localities. Barbers, chair of the House Committee on Dangerous Drugs, said ADAOs would be created in every city and municipalities, manned with an appointed Executive Director and two support staffs all responsible in the prompt submission of collated local anti-drug programs, projects and activities to the concerned ADAC chairperson and their other partner agencies. Under the bill, the composition of the Provincial ADACs includes the Governor as Chairperson; PNP provincial director as vice-chair person; and DepEd Provincial Official, DoJ Provincial Prosecutor, Provincial Social Welfare Officer, Provincial Health Officer,

Provincial Information Officer, two non-governmental organization representatives, Sanggunian Chairperson of the Committee on Peace and Order or Committee on Women, and Sangguniang Kabataan Provincial Federation President as members. The City ADACs, on the other hand, will be chaired by the City Mayor, the City Chief of Police as vice-chair, with DepED Division Superintendent, DOJ Prosecutor, City Social Welfare Officer, City Health Officer, City Public Information Officer, two NGO representatives, and the Sangguniang Kabataan City Federation President as members. The Municipal ADACs will have similar composition of their chairman, vice-chairman and as well as members of their team.

policy space for the World Health Organization,” he added. Meanwhile, the head of the Department of Science and Technology’s vaccine technical panel said the World Health Organization (WHO) clinical trials for COVID-19 vaccines will likely start early next year. During a Department of Health briefing, Dr. Nina Gloriani said the WHO has shortlisted five vaccines, but has not made an official announcement yet. Meanwhile, Gloriana said, two vaccine developers—AstraZeneca and Janssen-might soon be given initial clearance for their proposed clinical trials in here, after they respond to follow-up questions from the virus technical panel. Once they are satisfied with the answers, their application may then be forwarded to the ethics review board. Once cleared by the board, they can undergo final evaluation by the Food and Drug Administration. “We just have a few more comments. If they respond to that we should be granting technical clearance,” Gloriani said of AstraZeneca, which recently received regulatory approval in the United Kingdom. A group of private companies here and the government have also recently signed a supply deal with the British vaccine manufacturer if it passes local regulations. Gloriani said they had to defer ac-

tion on Janssen, which is under Johnson & Johnson, while waiting for their response. The company finally replied on Dec. 2. She said the vaccine expert panel will have to meet again and discuss the response. “If we are satisfied with their responses we will actually approve technical clearance,” she said. Currently, only Chinese companies Sinovac and Clover Biopharmaceuticals have passed the vaccine expert panel. The DOST said last week that the ethics review would only take a few days more. Of the five vaccine developers that applied for clinical trials, only Gamaleya Institute from Russia has not submitted complete documents. “They have provided us with animal studies Phases I and II data. But their Phase 3 study protocol… still has some missing information. So we have requested that. And the informed consent has not been submitted,” Gloriani said. While some vaccine developers already published their interim findings, Gloriani said they cannot rely on published papers alone, especially if they are not peer-reviewed. “Gamaleya has somehow provided information that they have 92 percent efficacy. We want the scientific data. We cannot rely on what is published on the internet,” she said.

UK defends vaccine approval

Sputnik V production in Kazakhstan

The government has allowed the conduct of workshops, training, seminars, and other similar events in areas under general community quarantine at 30-percent venue capacity, Malacanang said. In a statement, presidential spokesman Harry Roque said other events allowed are congresses, conferences, board meetings, colloquia, conclaves, symposia, and consumer trade shows. “The above-mentioned events must be held in venues in areas under general community quarantine (GCQ) and will be permitted up to 30 percent venue capacity,” Roque said. Willie Casas

The number of positive cases continues to rise at an unprecedented rate – more than 210,000 were registered in the US on Thursday alone, a record since the start of the pandemic, according to Johns Hopkins University. Overall, the United States and Canada have declared 14.5 million cases with at least 288,705 deaths. Latin America and the Caribbean has registered 13.3 million infections with 453,974 deaths, followed by Asia (12.6 million cases, 197,559 deaths), the Middle East (3.4 million cases, 80,163 deaths), Africa (2.2 million cases, 52,825 deaths) and Oceania (30,388 cases, 942 deaths).

Britain’s medicines regulator insisted Friday its world-first approval of the Pfizer-BioNTech coronavirus vaccine met all safety standards, after officials in Europe and the United States raised questions about the rapid process. Britain announced on Wednesday it had given emergency approval for the vaccine’s general use and would start rolling it out next week. “Any vaccine must undergo robust clinical trials in line with international standards, with oversight provided by the Medicines and Healthcare products Regulatory Agency,” the MHRA regulator said in a statement. “No vaccine would be authorized for supply in the UK unless the expected standards of safety, quality and efficacy are met.”

Comelec... From A1

foreign governments. The case stemmed from the document entitled “Overview of Non-Government Actors in the Philippines-Program 2017-2021,” shared by the Ministry of Foreign Affairs of the Kingdom of Belgium with Philippine delegates during a meeting in Brussels in February 2019. The document showed that the Belgian government, through its accredited non-government organization G3W, funded the Gabriela Women’s Party, the petitioners said. They also cited the report of the AntiMoney Laundering Council, that from 2012 to 2016, the respondents received about P22.7 million. “Respondent’s act is a blatant and direct violation of the Constitution which

prohibits, in no uncertain and equivocal trend and qualifications, political parties, coalitions of political parties or organizations from receiving support from any foreign government,” the NTF-ELCAC said. The NTF-ELCAC added that the respondents have violated the Constitution for their “acts of helping and supporting a declared terrorist organization,” referring to the Communist Party of the Philippines-New People’s Army (CPP-NPA). Meanwhile, a broad alliance of rights groups on Friday filed a criminal and administrative complaint against National Security Adviser Hermogenes Esperon Jr. as ex-officio of the NTFELCAC before the Office of the Om-

The prosecutors cited the press statement made by Tacardon after the bail hearing on October 23, 2020 on the testimonies of witnesses Artemio L. Baculi, financial investigator from AntiMoney Laundering Council, and PDEA digital forensic examiner Krystal R. Casenas, which the defense lawyer conveyed to the public as exoneration of De Lima from illegal drug trading. “As improperly insinuated by Atty. Tacardon, it is not true that prosecution witnesses ‘reaffirmed’ that the accused was not involved in any suspicious transaction that would link accused De Lima to the illegal drug trade inside the New Bilibid Prison. It is also not true that the said witnesses found no suspicious transactions between the senator and drug convicts,” the petition said. “In fact, the prosecution presented to the Court evidence to the contrary as

clearly pointed out in the judicial affidavit of Senior Assistant City Prosecutor Darwin Canete,” it added. The DOJ also cited the statement made by De Lima’s lawyer that twisted the testimony of prosecution witness Vicente Sy and would want to convey to the public that “the panel’s witnesses, Atty. Rigel Salvador, PDL Vicente Sy and Mr. Dennis Alfonso” have already cleared respondent De Lima from illegal drug trading, which is not true as the prosecution presented evidence to the contrary. The prosecutors said Tacardon’s misinformation, which has expressed imprimatur from accused De Lima, constituted violation of the sub judice rule, which restricts comments and disclosures pertaining to judicial proceedings to avoid prejudging the issue, influencing the court, or obstructing the administration of justice.

Seminars at 30% capacity OK’d

Women for Reforms as respondents in its petition filed before the Comelec in May last year. The poll body’s ruling, however, does not yet resolve the main case brought by the government’s petition against the respondents. Section 8 of the Rule 32 of the Comelec Rules of Procedures provides that upon verified complaint of any interested party, “registration of any political party under the partylist system may be cancelled after due notice and hearing” if that party has received financial contributions from

Court... From A1 This came as the DOJ prosecutors led by Provincial Prosecutor Ramoncito Bienvenido Ocampo Jr. on Friday asked the Muntinlupa City RTC to hold De Lima and her lawyer Filibon Fabela Tacardon liable for indirect contempt and impose “upon them the maximum penalty under the law” for violating the sub judice rule. In a 39-page petition, the prosecutors accused De Lima and her lawyer of “intentional and malicious misinformation” to the media that tends to convey to the public that prosecution’s witnesses have already cleared De Lima from illegal drug trading, “which is not true as the prosecution presented to the Court evidence to the contrary.”

Ex-Soviet Kazakhstan said Friday it will begin producing Russia’s coronavirus vaccine later this month, becoming the latest country to do so as a global inoculation race heats up. Russia last month said its Sputnik V drug was 95 percent effective and would be cheaper and easier to store than some alternatives. President Vladimir Putin has called on Moscow’s allies to mass produce the country’s vaccines. In a statement on Friday, Kazakhstan’s presidency said the country would begin producing Sputnik V from December 22, with plans to begin inoculating vulnerable groups in early 2021. AFP budsman for red-tagging. Cristina Palabay, Karapatan secretary general, also implicated Armed Forces of the Philippines-Southern Luzon Command’s Lt. Gen. Antonio Parlade Jr. as NTF-ELCAC spokesperson, Presidential Communications Operations Office Undersecretary Lorraine Marie Badoy as NTF-ELCAC Strategic Communications Cluster spokesperson, and Overseas Workers and Welfare Administration Undersecretary Mocha Uson. She said the four anti-communist task force officials “must held criminally and administratively liable for the acts that malign, vilify and baselessly redtag her, along with Karapatan’s officers and members.”

Love... From A1 “The Christmas spirit is indeed a spirit of giving. However, there are still ill-intent individuals who will deceive you during this season through the employment of various fraudulent schemes, such as the Love and Cargo Scam,” the OOC said in its advisory posted on its social media account. “It is important to make time in appraising yourself of the current trends and threats so you can avoid being victimized by cyber-criminals,” it advised. Under the scheme, the OOC stressed that perpetrators befriend victims through online dating or social media. “Vigilance is always the key. Never send money or gifts to a sweetheart you

Rappler’s Ressa slapped with 2nd cyberlibel case VETERAN Philippine journalist Maria Ressa asked a court on Friday to quash the second charge of cyber libel she has faced this year, in a case sparked by a screenshot of an online news article. The critic of President Rodrigo Duterte is already on bail pending an appeal against a conviction in June for the same type of offense, for which she faces up to six years in prison. Ressa and her news site Rappler face at least a dozen criminal charges and probes after publishing stories critical of the Duterte government, including its bloody war on drugs that has killed thousands. Ex-Rappler journalist Reynaldo Santos was also found guilty in the previous case. Ressa, a former CNN journalist, described the latest cyber libel charge as “crazy” and “dangerous.” The charge – which prosecutors filed on November 23 – stems from a complaint by businessman Wilfredo Keng over Ressa’s tweet in 2019 of a screenshot of a 2002 story published by Philstar.com about Keng. The news site removed the article “after the camp of Mr. Wilfredo Keng raised the possibility of legal action,” Philstar.com said last year. “It’s crazy that I have to face a criminal case for tweeting a screengrab of a newspaper article,” Ressa told journalists after appearing in court Friday. “By any stretch of the imagination that just seems off. That’s why we have a motion to quash.” Ressa, who Time magazine named as a Person of the Year in 2018, has asked the court to dismiss the charge on the grounds she cannot be liable for sharing a screenshot of a news story she did not write. “This is a bad precedent for social media, for Twitter,” she said. AFP

Gov’t... From A1 He said military troops engaged the terrorists who withdrew later using the darkness of the night as cover. He said the attackers shot houses and burned a police car but clarified that the Santa Catalina Church in Poblacion was not burned as mentioned in initial reports. “They just burned a police car,” he said. Uy said a report reaching them identified the attackers as those under the BIFF Karialan faction, a radical group that has pledged allegiance to the Islamic State of Iraq and Syria. Datu Piang town in Maguindanao’s second district had Dulawan for its old name. Meanwhile, the Philippine National Police said it was now looking into reports that Capt. Israel Bayona, police chief of Datu Piang, Maguindanao, was the target of the attack by BIFF members. “Our investigators would include that in the probe. All angles would be looked into,” PNP spokesperson Brig. Gen. Ildebrandi Usana said in a media statement on Friday. Earlier reports quoted Joint Task Force Central spokesman Lt. Col. Anhouvic Atilano as saying that around 50 suspected members of the BIFF and terrorist group Dawlah Islamiya attacked Barangay Poblacion, resulting in an encounter between the terrorists and government troops. Usana, meanwhile, added that there were no casualties from the incident but a police vehicle was burned. PNP chief, Gen. Debold Sinas, meanwhile, has alerted the Special Action Force to help in pursuit operations against those behind the attack. Maricel V. Cruz haven’t met in person,” the DOJ’s anticybercrime body stressed. The DOJ-OOC said the public should watch out for red flags including the perpetrators informing them that they would be receiving packages “containing luxury items and/or money.” It explained that victims would even receive messages from bogus courier service companies that would inform them that the packages had arrived. “Perpetrator would convince the victim to pay the necessary custom (sic) duties and to deposit the amount to the bank account provided by the courier service representative,” the agency emphasized. The OOC noted that the bogus courier service would even present bogus receipts, tracking numbers of packages, and other documents to make the transaction look legitimate.

News

SATURDAY, DECEMBER 5, 2020 mst.daydesk@gmail.com

AFP, V. Luna receive P93.22 -m aid T

WO medical government institutions will soon get a facelift and provide better services to their patients after the Philippine Amusement and Gaming Corporation turned over to them P93.22 million in financial aid.

FIRST FRIDAY MASS: Observing social distancing, Catholic devotees gather outside the Quiapo Church for the First Friday Mass on the first week of Advent on Dec. 4, 2020. For most Christians, Advent is a four-week religious season devoted to preparations for the birth of Jesus Christ.

Acidre’s Jaycees GSIS to complete crediting for pensioners election hailed By Maricel V. Cruz HOUSE of Representatives Majority Leader and Leyte Rep. Martin Romualdez and Tingog party-list Rep. Yedda Marie Romualdez on Friday congratulated Jude Acidre after his election as the 73rd National President of the Junior Chamber International Philippines or the Philippine Jaycees Inc. on Nov. 29. “With great pride and joy, we wish to extend our warm congratulations to Mr. Jude Acidre on his election as the new President of JCI Philippines,” the Romualdez couple said. “You have a kind heart in serving God and the country with great passion and malasakit” [compassion].” Acidre is the Chief of Staff of Rep. Yedda Marie Romualdez and the second nominee of the Tingog party-list. “Mr. Acidre has shown his exemplary service to less fortunate people through worthy projects that touched so many lives under the Tingog party-list. We hope that his skills will create positive change and further the interests of the Filipino people,” the Romualdezes said. “We also pray for your continued wisdom and knowledge in the next phase of your service to inspire young people to promote social responsibility and develop their leadership skills.” Acidre, from JCI Candahug Liberation, was given an overwhelming mandate by JCI chapters all over the country to be the incoming president. The election was a milestone for the 73-year old national organization after the process was done online. Acidre joined JCI Candahug Liberation in 2014. He became President in 2018 and served as National Treasurer in 2020.

Breast surgeons stress education By Macon Ramos-Araneta

CREATING awareness of cancer patient management in the time of COVID-19 pandemic, the Philippine Society of Breast Surgeons, is strengthening the importance of continuing education through the webinar series in partnership with various companies including Roche (Philippines) Inc. For its first webinar series, PSBS focused on “Neoadjuvant to adjuvant therapy: A multidisciplinary approach to patient care”, with medical oncologist Marcelo Severino B. Imasa highlighting the clinical decision points in early breast cancer treatment. Neoadjuvant therapy is the treatment given as a first step to shrink a tumor before the main treatment or the adjuvant therapy. “Neoadjuvant therapy offers several benefits for eBC treatment management, as it enables early response assessment, enhances surgical options and early systemic treatment that allows early treatment of micro metastases and provides opportunity for pathologic complete response. This can translate to a longer disease-free survival in certain sub-types,” Imasa said.

STATE pension fund Government Service Insurance System says it will complete the crediting of P3.3 billion in Christmas cash gifts to the eCard of its old-age and disability pensioners by ‪December 12. “The December 1 start date of release of the pensioners’ cash gift announced earlier has been allotted for the preparatory system requirements,” GSIS President and General Manager Rolando Ledesma Macasaet said. “Kung matatapos nang maaga ang system requirements, we might be able to credit the cash gift to the pensioners’

eCards earlier, possibly on December 8 para sabay na nilang ma-withdraw ang cash gift at monthly pension.” According to Macasaet, GSIS pensioners stand to withdraw a bigger amount this month because aside from the cash gift, they will get their monthly pension in full without loan amortization deduction as a loan moratorium is now in effect. Qualified pensioners who received a Christmas cash gift of P10,000 and below in 2019 will be granted an amount equivalent to their one-month pension but not more than the maximum amount of

P10,000. Pensioners whose 2019 Christmas cash gift was above P10,000 will similarly receive a one-month pension up to a maximum of P12,600. Pensioners who resumed their regular monthly pension after December 31, 2019 (after the five-year guaranteed period) will be given a onemonth pension but not more than P10,000. Eligible to receive the Christmas cash gift are old-age and disability pensioners under Republic Act 8291, Presidential Decree 1146, and RA 660 who are receiving their regular monthly pensions and who are still living as of 30 November 2020.

Of the amount, P53.22 million was allotted for the Armed Forces of the Philippines’ Health Service Command for the construction of a halfway house at the V. Luna Medical Center, formerly V. Luna Hospital. The five-story halfway house with 35 rooms and 125 beds will be used by the families or watchers of the soldiers confined at the health facility. It will have a provision for a mini bar or convenience store, dining and kitchen and rooms for the patients’ caregivers. The building is expected to be completed in a year. AFP Finance Center Acting Commanding Officer Aaron Talens expressed his gratitude to PAGCOR for continuously supporting the AFP. “We thank PAGCOR for this significant financial aid that will help us build a halfway house for the families of our soldiers who are undergoing medical treatment. PAGCOR has always given us support through the years, even to the bereaved families of our soldiers who perished during the Marawi siege,” Talens said. AGCOR likewise turned over P40 million to the University of the Philippines Los Baños–University Health Service for the renovation of the UPLB-University Health Services Operating Room Complex, including the upgrade of the hospital’s equipment. The project’s completion is expected within two years. PAGCOR Chairman and CEO Andrea Domingo and the members of the PAGCOR board spearheaded the turnover of financial aid. Domingo said the state-run gaming agency had long been showing its steadfast support to armed personnel who constantly put their lives on the line to protect the safety and welfare of Filipinos. “We owe the peace and security in our country to our military personnel. They

NBI charges 16 before Justice By Willie Casas THE National Bureau of Investigation on Friday announced the filing of charges before the Justice department against five Filipinos, including a high-ranking official of the Mactan-Cebu International Airport Authority, and 11 foreigners for violation of the Anti-Dummy Law. NBI Officer-in-Charge Director Eric Distor identified the suspects as MCIAA General Manager and Chief Executive Officer Steve Dicdican, GMR MEGAWIDE Cebu Airport Corp. Filipino officers Manuel Louie Ferrer, Edgar Saavedra, Olover Tan, JZ dela Cruz, and foreigners Srivinas Bommidala (Indian), P. Sripathy (Singaporean), Vivek Singhai (Indian), Andrew AcquaahHarrison (Ghananian), Ravi Bhatnagar (Indian), Ravishankar Saravu (Indian), Michael Lenane (Irish), Sudarshan Md (Indian), Kumar Gaurav (Indian), Magesh Nambiar (Indian) and Rajesh Madan (Indian). Distor said the case stemmed from a complaint over the awarding of the operation and management of Mactan Cebu International Airport, which was awarded to GMCAC under a 25-Year Concession after winning the bid for P14.4 billion. The concession is for the expansion and operation of MCIA, which consists of the construction of a new passenger terminal with all associated infrastructure facilities, rehabilitation and expansion of the existing terminal along with all associated infrastructure and facilities, installation of the required information technology and other equipment commensurate with the operations, and operation and maintenance of both passenger terminals during the concession period. GMCAC is a consortium between MEGAWIDE Construction Corporation and the GMR Group.

FROZEN SCADS SEIZED: The Bureau of Customs’ Manila International Container Port Custom Intelligence and Investigation Services Chief Alvin Enciso inspects some of the 10,000 boxes of smuggled frozen scad in Parañaque City.

Agents seize smuggled scad worth P19 million By Joel E. Zurbano CUSTOMS agents have seized a shipment of frozen scad worth P19 million at the Manila International Container Port. Intelligence Group deputy commissioner Raniel Ramiro said his men from Customs Intelligence and Investigation Service intercepted the two 40-foot containers with the goods consigned to Hightower Inc. on Wednesday. He said the importer described the shipment from China as frozen squid, a clear case of technical smuggling. “Aside from illegal importation, the

shipments’ owner will be held liable for violating Customs Memorandum Order 04-2020 for removing the Electronic Tracking of Containerized Cargo GPS Seal without the presence of proper authorities,” Ramiro said. The E-TRACC device tracks the goods in real time and provides warning in case of unauthorized trips, tampering, deviation of vehicle from the authorized routes, or such events that are deemed suspicious based on the criteria determined by Customs. Ramiro and other officials presented to reporters the smuggled shipment in a press

conference at Glacier Megafridge Inc. on Amvel Business Park along Ninoy Aquino Avenue in Parañaque City. MICP district collector Romeo Allan Rosales issued a mission order for the conduct of a full inventory of the goods at the cold storage facility in Parañaque. The Customs bureau is currently heightening its alert against smuggled items intended for the holiday season. The yuletide period is critical for Customs because unscrupulous traders will try to find the opportunity to sneak in their illegal goods in time with the high volume of imports at the ports.

Closure of Edsa U-turn slot put off By Joel E. Zurbano

TWILIGHT GLORY: The widely acclaimed a coffee-table book on war veterans and modern-day heroes, ‘Twilight Glory” has drawn an inspiring remark from US Embassy’s Deputy Chief of Mission John Law who describes the book as a testament to the heroism and legacy of Filipinos. Law congratulates the book authors: PVAO Administrator Ernesto Carolina (center), flanked by Lingayen Mayor Leopoldo Bataoil (right) and Melandrew T. Velasco.

THE Metropolitan Manila Development Authority announced Friday it is canceling the Dec. 7 closure of a U-turn slot along Epifanio de los Santos Avenue in Caloocan City. This was after the MMDA granted the request of the Caloocan City government to postpone the scheduled closure, saying the move would cause heavy traffic in the area especially during this holiday season. “The scheduled closure of Edsa-Bagong Barrio U-turn slot on Monday, Dec. 7, will not push through and instead be moved to Jan. 4, 2021. The postponement of the U-turn slot closure is in deference to the Christmas season,” the MMDA said in its

advisory. To date, the MMDA has closed six Uturn slots to give way to the government’s Busway Project, which designates the innermost lane of Edsa as an exclusive lane for public utility buses traveling from Monumento, Caloocan, to SM Mall of Asia in Pasay City and vice versa. MMDA Chairman Danilo Lim said the agency was in constant coordination with the Transportation department, the Department of Public Works and Highways and the Land Transportation Franchising and Regulatory Board in exploring ways to facilitate the faster movement of commuters and private motorists along the 23.8-kilometer highway.

LGUs

Jimbo Owen Gulle, Editor

SATURDAY, DECEMBER 5, 2020 lgu@manilastandard.net editor.lgustandard@gmail.com

SMC to employ Taliptip residents for river projects

LOCAL GOVERNMENT UNITS

Probe ordered into drowning of 3 Taguig kids By Joel E. Zurbano TAGUIG City Mayor Lino Edgardo Cayetano has ordered an investigation into the case of three minors who died in Arca South business district in Western Bicutan on Thursday afternoon. Initial reports showed that the fatalities -- Dominique Nueva, 6; Reynan Sandag, 6, and Prince Almania, 8, all residents of PNR site in Western Bicutan -- drowned in a water hole along Anchor Street around 12:40 p.m. “The city has been in close coordination with Arca South management, Philippine National Police, and Barangay officials and has ordered immediate investigation on the matter,” said Cayetano. Cayetano said the accident happened in a private property, in an open lot where there was a water hole. Community watchers tried to rescue the children by pulling them out of the water hole. They brought the boys to the TaguigPateros District Hospital where attending physicians pronounced them dead. “This is a tragedy, and we are heartbroken. This should not have happened. We have reached out to the families of these innocent young children. I have personally met with their mothers and have assured them the city will continue to try to be a source of comfort for them during this difficult time,” the city chief executive said. Cayetano said local government will engage the community to make sure minors are supervised when leaving the household. “The area has been designated offlimits and has been cordoned off to the public,” he said. On Friday, the city government announced it has adopted the recommendation of Metro Manila Council (MMC) in consultation with the Philippine Pediatric Society not to allow minors to go outdoors, including shopping malls, while the National Capital Region is under the general community quarantine. The government earlier warned parents they will be held liable if they allow children to go outside their homes.

TRAINED TO WORK. San Miguel Corp. has enrolled 58 residents of Barangay Taliptip in Bulakan, Bulacan in various skills and livelihood training courses such as heavy equipment operation, practical electricity, shielded metal arc welding, cookery, and dressmaking.

Capas mayor shuts down waste treatment plant C By Jess Malabanan

APAS, Tarlac—The local government has suspended the operations of the waste processing plant of Clean Leaf International Corporation here due to the health risk it poses to residents in its surrounding communities at Barangay Cutcut ll here and in nearby Bgy. Anupul in Bamban town. \“When i received the complaints from residents in September, I quickly called the management of Clean Leaf and directed them to shut down its operations due to mounting complaints of residents there,” said Mayor Rey Catacutan. He said Clean Leaf ceased its operations since October and it would be “impossible” for residents to experience foul smells from the plant. The suspension order was covered by Executive Order 97 Series of 2020 issued by the mayor three months ago.

The company has not responded to the report, issued a statement, or answered queries from the Standard as of press time. In their complaints posted on social media, one resident stated that Clean Leaf operates at midnight up to 3 a.m. It releases black smoke from its chamber only during the wee hours to avoid being detected by the local authorities. “We have been experiencing dizziness, stomachache and headache due to noxious odor coming from the lagoon

and smoke being emitted by Clean Leaf,” stated in a post of another resident, whose home is adjacent to the hazardous waste processing plant. Catacutan said the Capas LGU environmental officer conducted an inspection at Clean Leaf as early as September, or shortly after the mayor received complaints against the waste treatment plant. A technical investigation team was also sent to Clean Leaf to determine its waste treatment procedure of hazardous substances being dumped inside the plant “I ordered the waste processing plant management to cover the lagoon with sand to trap the fumes being emitted from it,” said Catacutan, while flashing the suspension order he issued to Clean Leaf last September in a press briefing. The local chief executive said it is impossible for residents at Cutcut to experience foul smell as the plant’s exhaust chamber is more than 40 feet high and the smoke released to the air is already processed and filtered.

SAN Miguel Corporation (SMC) is hiring former residents of Barangay Taliptip in Bulacan--site of its upcoming P740-billion Manila International Airport project—as heavy equipment operators for its ongoing P1-billion Tullahan river dredging project and eventually for the Bulacan river systems and Pasig cleanup initiatives. This, after the initial batch of former Taliptip residents who underwent SMC-funded training with the Technical Education Development and Skills Authority (TESDA) on Heavy Equipment Operation, graduated from their courses. SMC president and chief operating officer Ramon S. Ang said that the deployment of the initial batch of Taliptip graduates to these river cleanup projects will allow them to earn income and get additional training in preparation for the airport project. “For the 12 that graduated the heavy equipment operations course, this will be their practical, on-the-job training. They can put the things they learned into actual practice. This will allow them to further hone their skills and prepare them for the airport construction. More significantly, this means they will now start earning from the skills they just acquired while making a difference,” Ang said. The graduates are part of a larger group of residents that enrolled in, and graduated from various SMC-funded courses designed by TESDA to equip former residents of Taliptip with skills to gain employment or put up their own small businesses. “We are also looking to match other residents who graduated from our other TESDA courses, with other job and livelihood opportunities within the company,” he added. The skills and job-training program is on top of financial assistance given by SMC for the relocation and construction of new, concrete houses of former Taliptip residents. Ang reiterated that the company’s commitment to helping former residents of Taliptip, many of whom used to live on houses on stilts and were at risk during typhoons, goes well beyond providing them decent homes. “This training and jobs program is really aimed at giving those from Taliptip who want to improve their lives, are hard-working and dream of a better future, the opportunity to do so. We know they have had a hard life, so we are helping them help themselves by providing them all the support they need,” he added.

Navotas sends rice to help typhoon-hit Batangas town By Jun David NAVOTAS extended assistance to another local government unit that was badly hit by typhoons Quinta, Rolly and Ulysses. The city government provided 100 sacks of rice in 50-kilo packaging to Mabini, Batangas, Monday. The relief operation was made after Mabini’s Municipal Administrator, Atty. Gerville R. Luistro, asked Navotas for help. “Though our city is still grappling with the effects of the pandemic, we still fare better compared to others. For this, we are thankful, and we want to help those in need as much as we can,” Mayor Toby Tiangco said. Mabini, Batangas has an estimated population of 100,000. Earlier, Navotas sent food packs containing rice, canned goods, instant coffee, instant noodles, and bottled water, mats and blankets, and other items to Cagayan. The city’s Disaster Risk Reduction and Management Office also assisted in the rescue and relief operations in the said province, and in Marikina City.

Laguna cops form group to track killers of Perez LOS BAÑOS, Laguna—Provincial police director Col Serafin Petalio has formed the Special Investigation Task Group Perez to probe the killing of Los Banos Mayor Ceasar Perez on Thursday. Lt. Col. Jesson Bombasi was designated head of the special investigation team with the support of Criminal Investigation and Detection Group-Laguna, Provincial Intelligence Unit, and other support units. Perez, 66, married and a resident of Lopez Ave. Grove, Brgy. Batong Malake, Los Baños was shot dead by two unidentified assailants inside the municipal hall in Brgy. Timugan on Los Baños Mayor Thursday night. Ceasar Perez Laguna Governor Ramil Hernandez confirmed the death of Perez, who was once the province’s vice governor as well. According to a police report, the mayor proceeded to the municipal hall after getting a massage at a spa at Brgy. Baybayin. While Perez was walking into the receiving area, the suspects shot him twice at the back-left portion of his head from an unknown direction, then immediately fled to an unknown direction. The mayor was immediately rushed to Health Serv Medical Hospital at Brgy. Batong Malake for medical treatment but was declared dead at about 9:25 p.m. by attending physician Dr. Godfrey Anijah-Obe after 30 minutes of trying to revive him. The police could not determine who the culprits were and where the shots came from, although eyewitness accounts said they seemed to have come from afar. Roy Tomandao

Opinion Roll call of valor AWED—this is the dominant feeling I have as I put together a list of the valiant men and women who, consciously or not, played a role in the country’s struggle for independence. I started the list about two years ago and now there are more than 5,100 names in my roster. But I am getting ahead of the story. As an ardent student of Philippine history, I have come to know and be friends with descendants of some of our heroes. I count as friends, or at least close acquaintances, descendants of Gen. Emilio Aguinaldo, Gregoria de Jesus, Gen. Gregorio del Pilar, Gen. Miguel Malvar, Gliceria Villavicencio, and the Apacible brothers, Galicano and Leon.

Honor our nameless and faceless heroes. Spending time with these friends talking about our story as a nation and people is always enlightening as well as it is inspiring. One comes face to face with stories and tidbits about our heroes passed through generations of descendants. These are anecdotes that are neither found in books nor taught in schools—these are stories that make our heroes human, like we are. When I am with these friends, I would always wonder about my own ancestry and wish that I also descend from at least one of the hundreds of thousands who valiantly fought for our country’s independence. But I knew no one and have not heard any story from my grandparents and parents when they were still around. Often, I would tell my friends that I envy them because they come from bloodlines of heroes. I wondered if like me, others would also be interested to know if they come from a family of revolutionists. Yes, envy was a motivation for me to find out if I have a revolutionary ancestor. I asked friends if there was a list somewhere of those who fought during the revolution. I followed the leads only to be disappointed because there was not much considering the multitude of Filipinos who took part in the events leading to, and during the revolution. The idea of making my own list came when I realized in hindsight that the history books I had read included a lot of names of revolutionists. I thought it was just a matter of jotting down their names, and this I stated doing. It helped that my group Tunay na Kasay-

SATURDAY, DECEMBER 5, 2020

EDITORIAL

sayan ng Pilipinas (TUKLAS) decided to join the HistoryCon more than two years ago. We thought it was a good interactive activity to make public the initial list I could come out with so interested visitors would have the possibility of “meeting” their revolutionist ancestors. We also wanted to know if there is interest in something like this. The reality is that we only know a handful of our heroes. Schools only teach about a few of the tens, if not hundreds of thousands of valiant Filipinos who gave their lives up for the country and for us to be independent as a people. We owe our freedoms to these nameless revolutionaries. It is not only correct, but just to name as many as we can and recognize their importance in our history. Coming out with a list is a small contribution toward this end. Thus, the list I was doing would no longer be just for my purposes. I even had a deadline. We targeted to have at least 1,500 names ready in time of the HistoryCon. This also meant that the list should be improved, and it would have more impact if details about the revolutionists in the list could be included. The initial Roll Call of Valor released during the History Con was a big success. People crowded around the list to find out if they come from revolutionary lines. Some even called their family members to ask for or confirm the names in the list. It was heartwarming to witness people’s excitement and joy upon realizing that they could be descendants of great revolutionists. Young people’s reactions were quite touching. Finding their connection with our glorious past was a meaningful experience. The notes they left for their ancestors were warm, grateful, even loving. Since then, the list has been growing significantly. As this project continues, it is amazing to realize that profiles of unknown revolutionists who appear in different history books are emerging. As more details about them are stored in one place, their role in the struggle becomes a bit clearer. Perhaps this will inspire descendants to reconnect with their past and find out more about their lineage. It will be the 125th anniversary of the Philippine revolution in 2021. The plan is to intensify the work and gather at least 10,000 names of revolutionists and launch Roll Call of Valor to honor our nameless and faceless heroes. This will just be a drop in the bucket but hopefully, the work will continue. As to my personal quest, I found two revolutionaries bearing the surname of my grandmother. I am claiming them as my ancestors and this gives me immense happiness. I come from a lineage of valiant men who fought for our country’s independence. @bethangsioco on Twitter Elizabeth Angsioco on Facebook

Fr. Tim’s grand welcome in heaven

LAST week’s Gospel reading calls on us to be alert and vigilant because we do not know when the Lord will come. But in the Second Sunday of this season, the Scripture calls on us to prepare the way for his coming. A voice of one crying out in the desert: “Prepare the way of the Lord, make straight his paths,” says the Gospel of Mark. It announces the coming of John the Baptist, the precursor of the Messiah, who spoke the words of God but also acknowledged that there is one greater than him whose sandal he is not worthy to unstrap. The period when Christ came into the world was a time of uncertainty and insecurity. The chosen people were groaning under the yoke of foreign oppression. John the Baptist’s message resonated among the people who were beginning to doubt God’s providence, feeling that he has abandoned his people. His message was one of hope amid hypocrisy, violence and greed, conflict and confusion. It was at this time when everything seemed hopeless that God sent a messenger to rekindle the hope of the people, calling on them to put their trust in the Lord. Much like in the time of John the Baptist, many are now teetering on the verge of hopelessness, as we reel from the effects of the COVID-19 pandemic and the myriad calamities that face us such. This Advent, the Lord is once again calling on us all to renew ourselves. Just as John called on his people to prepare the way for Jesus, we too are be-

Adelle Chua, Editor mst.daydesk@gmail.com

ing called to welcome Him this Advent Season and illumine, and to reflect on the words of wisdom of the Holy Father to free ourselves from our internal idols, heed the cry of John the Baptist and focus on the Lord, never doubting his eternal love for us. One person that has prepared the way for Christ for many people, especially priests, is Fr. Timoteo Ofrasio SJ. Fr. Tim, as we fondly call him, is a great liturgist of the Philippine Catholic Church, a lyricist of some of the most beautiful songs for religious celebrations, and a formator of priests in the Philippines and in Mindanao.

His work prepared the Way of the Lord for many of us. Last December 1, on the Tuesday of the first week of Advent, sad news from Fr Peter Pojol, Socius of the Society of Jesus: began appearing in my multiple social media and communications channels—in Facebook, Viber, Gmail, Telegram, and Messenger: “This is to inform you that FR. TIMOTEO J. M. OFRASIO, S. J died about 8 p.m. this evening in San Pablo General Community Hospital, San Pablo City. Fr. Tim, 72, had been on home leave and tested positive for the virus. He was hospitalized several days ago but seemed to be recovering. His death is quite unexpected, except that COVID-19 has often been seen to be more treacherous and deadly than anticipated.” When I saw the news, I could not help but cry, posting this in Facebook,

What’s the plan?

E START the ﬁnal month of a difﬁcult year with the encouraging news that at least three pharmaceutical companies have come up with a vaccine against the dreaded coronavirus.

tion of the trials’ success, the mass production of the vaccines and their transport to our shores, we also wait to hear about the government’s plan for its distribution.

When the vaccine does come, there should be no chaos, no wielding of influence, no words and actions that say “my life is more important than yours.”

Stock markets around the world reflected the hope and relief that a solution to the pandemic now has a timeline. At the very least, governments, businesses, households and individuals can plan. Life in the future, even if it were still distant, could flow back to normal. To be sure, this is not an excuse to let our guard down, not even for a minute. Nor is it an excuse to throw better judgment out the window and resume our old ways of going out and socializing. Wearing masks, keeping clean and staying physically apart should not even be legislated—people have to internalize their inherent benefits and abide by them, not because they have to, but they know they need to for their own and others’ sake. While we all wait for the confirma-

We are aware we cannot buy the required doses for all Filipinos at the same time. We know that there are sectors who, by the nature of their job or condition, need the vaccine more than others. We are also aware that millions of Filipinos cannot afford the buy the vaccines for themselves, while some can very well buy one for their own and their extended families’ use. President Duterte has made several pronouncements about who he

thinks should get the doses first. There are the frontliners who stake their safety every time they go to work, members of the police and the military, the poorest of the poor, the sick and the elderly. He has also said he wants the entire population eventually vaccinated against the virus. The decision on who should get inoculated first is complex and nuanced; the manner of how to actually carry this decision through, even more difficult. The best time to plan and to communicate this plan well to everybody is now, when the vaccines still have not arrived. Thus, when they do, there will be no chaos, no wielding of inﬂuence, no words and actions that say “my life is more important than yours.” Knowing our government’s great need for foresight and coordination, however, we the people can keep our officials on their toes by constantly demanding to see a plan based on science, logistics and common sense. We’re inching our way out of this dark tunnel every day, but the light—or the prospect of light—shouldn’t blind us and render us unable to act sensibly.

RCEP: An economic thrust rightly predicted AS ANTICIPATED, the Regional Comprehensive Economic Partnership, upon its signing on November 15, was instantly dubbed as the biggest economic bloc, bigger than the EU and NAFTA. It is seen to boost a hefty 26.2 percent of the world’s global output or 30 percent of the manufactured goods. According to the Peterson Institute for International Economics, by 2030 it is estimated that the deal could increase global GDP by $186 billion. Although China, South Korea, and Japan are expected to benefit, which is positive for the rest of the countries in the Asia-Pacific region, RCEP surpassed EU which took decades to refine their trade mechanism while the much-ballyhooed NAFTA is now faltering because of the Trump administration’s hoot to “make America great again.” Countries like the ASEAN all signed with optimism with the economic giants like China, Japan, South Korea, Australia and New Zealand around to saddle and make the concept a workable mechanism as envisioned by China’s “win-win” formula for economic growth. China now stands as the principal architect of the economic bloc after the US suddenly abandoned the TPP much that Trump’s “America First” was existentially incompatible to multilateralism. RCEP was conceived by ASEAN on November 11, 2011 and gained momentum after China substituted the US plan to organize a counterweight against its increasing economic influence in Asia. RCEP opted for an open access to regionalism to enable the participation of the ASEAN free trade agreement partners. This meant that membership with RCEP is not confined to a select few. Such a model of integration has the advantage of being more robust by the in-

Twitter, and Instagram: “Oh Fr. Tim! You just texted me a few weeks ago from Laguna! I am glad that we have reconnected these past years. As I told you when you reached out to me, I will do anything for you! Fr. Tim, I love you! You were a spiritual rock to many of us since you were a young priest in the early 1980s. Your friendship with Fr. Lennie was an awesome example for us in the ACIL Tañong-San Mateo group. I look forward to my next retreat in Sacred Heart: I always ask your good friend to help me fight the demons that visit me in my first nights; now your gentle presence through your songs will be as powerful as well.

clusion of a large number of countries. All the participants, except India, withdrew. China took the cudgels to serve as RCEP’s dynamo to be complimented by its Belt and Road Initiative. The BRI could serve as terminal and central hub to provide access to members to trade goods to Central Asia, the Persian Gulf, Mediterranean, Europe and onward to Africa. As one economist would put it, the BRI is a solution to prevent the portentous cycle of economic bust to positively turn the result to a world-wide levelling in the supply chain from East to West.

We need to stay open and inclusive. Comparatively speaking, the ASEAN has a population of 654,306 million, a GDP of $3,173,141 trillion and an average per capita income of $12,921. On the other hand, the EU has 27 members with a GDP of $18,292 trillion and a per capita income of $35,623 as of 2019. If China, Japan and South Korea are added, the trade disparity between the ASEAN and EU would be greatly reduced. In 2018, China already stood as the No. 2 economy in the world exporting $2.49 trillion worth of goods while importing $2.13 trillion. Japan accumulated a total of $713 billion making it the number 4 exporter in the world, and South Korea exported a total of $617 billion, making it number 5. Free trade among the RCEP members makes multilateralism a reality. The agreement could hasten the integration of the economies in Asia-Pacific which for decades failed to put in place the finer points in their trade differences. The APEC has been reduced to a regular gathering of member-states to make a vague declaration on the agenda vital to the interest of the US with some countries takVisiting you in Buug one Christmas season in 1983 was so magical an experience as I saw how you led a happy congregation. That misa de gallo you celebrated was one of the most joyful Christmas dawn masses I have ever experienced. I also remember New Year’s Eve mass with you in Barangka in 1981—but that was noisy! Later, when we would attend the corporation meetings of Xavier University together, I saw how happy you were in Vianney as Rector! And more recently, I have appreciated your celebration of the Latin Mass and wanted to reach out to you to learn more. I thank the Lord for the priest you

en in as freeloaders. The same can be said of NAFTA. Differences among the three biggest trading partners continue to haunt the members until President Trump was elected to say NAFTA is not working to secure American economic interest. India gave its reason to back out stating the proposed organization “failed to address its core concerns.” Indian industry feared it could reduce customs duty to flood its imports, especially from China which has a massive trade deficit.” In 2019-20, India’s trade deficit fell to US48.66 billion on account of declining imports from the neighboring country. Exports to China in the last financial year stood at $16.6 billion, while imports aggregated at $65.26 billion. The trade deficit between the countries was at $53.56 billion in 2018-19 and $63 billion in 2017-18. The border dispute with China highlighted the trade deficit. Some suggest India should have accelerated imports from other RCEP members, taking advantage of the privilege of free trade. Prior to the flare up, India’s trade deficit with China was at $13.1 billion. Politics shrunk this to $5.8 billion but at a cost to the consumers. Moreover, the economies of its neighbors have already been preoccupied by the expanding market of ASEAN, China, South Korea and Japan notwithstanding the declining value of India’s exports which is not sufficient to offset their burgeoning trade deficit. Maybe keeping India a member of RCEP to enjoy a win-win formula while diversifying exports could have been a better formula than by isolating itself from the rest including the opportunity in store by China for it to participate in the great trade caravan. In his video speech to the members of APEC last November 20, China’s President Xi Jinping outlined four objectives for RCEP. Full version at www.manilastandard.net

were, for the holy person you had become!” As announced by Fr. Pojol, for now there will not be a big wake or funeral mass for Fr. Tim. But I hope there will be one later for this priest who has been an architect of so many great Jesuit and Church celebrations. It is enough to know that Fr. Tim’s work—in liturgy, in his songs, as a formator, and as a friend— prepared the Way of the Lord for many of us. And in heaven, he is welcomed by the angels, with trumpets and all, this man of God, this son of Ignatius of Loyola. Website: tonylavina.com Facebook: deantonylavs Twitter: tonylavs

Rolando G. Estabillo Publisher ManilaStandard

Published Monday to Sunday by Philippine Manila Standard Publishing Inc. at 6/F Universal Re Building, 106 Paseo de Roxas, corner Perea St., Legaspi Village, Makati City. Telephone numbers 832-5554, 832-5556, 832-5558 (connecting all departments), (Editorial) 832-5554, (Advertising) 832-5550. P.O. Box 2933, Manila Central Post Ofﬁce, Manila. Website: www. manilastandard.net

ONLINE

can be accessed at: manilastandard.net

MEMBER

PPI

Philippine Press Institute The National Association of Philippine Newspapers

Former Chief Justice Reynato S. Puno Anita F. Grefal Baldwin R. Felipe Edgar M. Valmorida

Board Member & Chief Legal Adviser Treasury Manager Head—Ad Solutions Circulation Manager

Ramonchito L. Tomeldan Chin Wong/Ray S. Eñano Joyce Pangco Pañares Adelle Chua

Managing Editor Associate Editors News Editor Opinion Editor

Emil P. Jurado

Honor Blanco Cabie Night Editor Jimbo Owen Gulle City Editor Lino M. Santos Chief Photographer

Chairman Emeritus, Editorial Board

World

SATURDAY, DECEMBER 5, 2020 mst.daydesk@gmail.com

Greece to extend coronavirus lockdown G REECE said Thursday it will extend a coronavirus lockdown by a week to December 14, citing persistently high infection rates.

“The epidemiological burden remains high,” government spokesman Stelios Petsas told reporters as he announced the extension. An exception will be made for stores selling Christmas decorations, which

can open from December 7, he said. After weathering the first wave of the pandemic with relatively low fatalities compared to other European countries, Greece has been hit with scores of deaths daily in recent months.

More than 2,600 people have died of the virus, including nearly 90 on Wednesday, and over 600 people are in intensive care. Nearly 2,200 new infections were announced Wednesday. “Many hospitals in northern Grece are still under serious pressure,” Petsas said. He added that the first vaccines are expected in Greece by early January and that the country will be able to inoculate

more than 2.1 million people per month. The government has said that vaccination will be on a voluntary basis. Imposed on November 7 for three weeks, the lockdown had already been extended by a week to December 7. Petsas on Thursday also dismissed media reports alleging that daily government coronavirus tallies have been distorted because of shoddy bookkeeping at the state health organisation. He called the claims “conspiracy the-

ories” that have been denied by the state committee of health experts monitoring the virus. A magistrate has ordered a preliminary investigation into the media reports. Prime Minister Kyriakos Mitsotakis also faced criticism this week over a mountain bike trip on the outskirts of Athens last weekend, at a time when other Greeks are only allowed to exercise outdoors near their homes. AFP

Pompeo lambastes Turkey at NATO ministerial meeting US SECRETARY of State Mike Pompeo strongly criticized Turkey at a NATO ministerial meeting, participants told AFP on Wednesday, raising the hopes of some allies pushing for sanctions against Ankara. A US spokesman would not confirm or deny the details of Pompeo’s participation in Tuesday’s foreign minister’s videoconference, but several well-placed sources described the exchange as heated. Turkey has faced criticism over its stance in a maritime territorial dispute with fellow NATO member Greece and its support for Azerbaijan in the recently revived conflict with Armenia over a disputed enclave. European warships are also attempting to enforce an arms embargo on war-torn Libya, where Turkey is supporting the Tripoli government. Some NATO and EU members—with the notable exception of France—have been cautious about criticising President Recep Tayyip Erdogan’s government, for fear of escalating the crises. But Pompeo, attending one of his last

NATO meetings—as US President Donald Trump’s adminstration will leave office next month—did not hold back in an exchange with Turkish Foreign Minister Mevlut Cavusoglu. ‘Short but clear’ Senior participants told AFP that Pompeo accused Turkey of playing into the hands of NATO’s rival Moscow by buying the Russian S-400 missile defence system, despite the allies’ opposition, one participant told AFP. And he urged Ankara to behave more like an ally, accusing it of thwarting efforts to build unanimity for vital reforms, according to those taking part. “His intervention was quite short, but very clear,” the senior official told AFP, speaking on condition of anonymity to describe a closed-door diplomatic discussion. Another source familiar with the talks said the exchange was “punchy”. The official US State Department readout of the meeting did not mention Turkey, but Pompeo has been critical of Ankara in recent weeks.AFP

Manila

Standard

TODAY

N OTICE Notice is hereby given that PRIMA CASA LAND & HOUSES, INC. (Formerly: LUMINA HOMES, INC.) with office address at LGF Bldg. B, Evia Lifestyle Center, Daang Hari, Almanza Dos, Las Piñas City, is applying for registration with the Board of Investments (BOI) as an expanding developer of economic housing project (Lumina Tanza Phase 5) with a capacity of 734 economic and low-cost units on a Non-Pioneer status with project site located at Brgy. Bagtas, Tanza, Cavite. Any person with valid objection/s on the abovementioned project may file his/her objection in writing, under oath, with the BOI within three (3) days from the date of this publication. (SGD.) ANGELITA F. ARCELLANA Director Infrastructure and Services Industries Service

VIRTUAL PRESSCON. European Council President Charles Michel (2R) talks during a press conference marking his first

year as President, in an empty room due to the measures taken to fight the Covid-19 (novel coronavirus) at the European Council CYAN MAGENTA YELLOW BLACK headquarters in Brussels, on December 4, 2020. AFP

France could veto bad Brexit deal—European minister Beaune FRANCE could use its veto to block a post-Brexit deal with the United Kingdom if it does not meet Paris’ demands, especially on fishing, Europe Minister Clement Beaune said Friday. “If there’s a deal that isn’t a good one, we’d oppose it,” Beaune told Europe 1 radio, adding that “every country (in the EU) has the right to veto” whatever emerges from the last-ditch Brexit talks going on in London. He said France would evaluate any accord itself, adding: “We owe it to the

French and we owe it to the fishermen and the other economic sectors.” Beaune warned that the risk of a no deal situation “exists” and that “we need to be prepared”. “But I want to believe that we can have a deal and a good deal,” he said. Negotiators on both sides are working day and night to agree on a deal in time to be ratified before December 31, when Britain will no longer be bound by EU single market rules under the terms of a post-Brexit transition.

But with the deadline looming, some of the EU’s 27 member states -- led by France and the Netherlands -- fear the EU Commission is ready to give too many concessions, especially on fishing, to win a deal. On a visit to northern France on Thursday, Prime Minister Jean Castex had said French fishing would not be “sacrificed” for the sake of a deal. “We obviously hope to obtain an agreement under the best possible conditions, but not under any conditions,”

Castex said. Fishing in British waters represents around 20 percent of French fishing activity in the Atlantic, Channel and North Sea regions, in operations worth some 180 million euros ($220 million) a year. “If we resort to (only fishing in) French waters, there is a risk of overfishing and in a few months we will destroy the resources,” Castex warned after visiting a deep-sea fishing vessel which operates in the north of Scotland. AFP

(MS-DEC. 5, 2020)

IN BRIEF N OTICE

N OTICE

Notice is hereby given that PRIMA CASA LAND & HOUSES, INC. (Formerly: LUMINA HOMES, INC.) with office address at LGF Bldg. B, Evia Lifestyle Center, Daang Hari, Almanza Dos, Las Piñas City, is applying for registration with the Board of Investments (BOI) as a New Developer of Economic and Low-Cost housing project (Lumina Tanauan) with a capacity of 1,172 economic and low-cost units on a Non-Pioneer status with project site located at Brgy. Hidalgo, Tanauan City, Batangas.

Notice is hereby given that PRIMA CASA LAND & HOUSES, INC. (Formerly: LUMINA HOMES, INC.) with office address at LGF Bldg. B, Evia Lifestyle Center, Daang Hari, Almanza Dos, Las Piñas City, is applying for registration with the Board of Investments (BOI) as an Expanding Developer of Economic and Low-Cost housing project (The Balanga Residences Phase 1) with a capacity of 1,046 economic housing and low-cost units on a Non-Pioneer status with project site located at Brgy. Cupang Proper, Balanga City, Bataan.

Any person with valid objection/s on the abovementioned project may file his/her objection in writing, under oath, with the BOI within three (3) days from the date of this publication.

(SGD.) ANGELITA F. ARCELLANA Director Infrastructure and Services Industries Service (MS-DEC. 5, 2020)

(MS-DEC. 5, 2020)

(SGD.) ANGELITA F. ARCELLANA Director Infrastructure and Services Industries Service

N OTICE

Notice is hereby given that PRIMA CASA LAND & HOUSES, INC. (Formerly: LUMINA HOMES, INC.) with office address at LGF Bldg. B, Evia Lifestyle Center, Daang Hari, Almanza Dos, Las Piñas City, is applying for registration with the Board of Investments (BOI) as an expanding developer of economic housing project (Lumina San Jose Phase 2) with a capacity of 342 economic housing units on a non-pioneer status with project site located at Brgy. Sto. Tomas, San Jose City, Nueva Ecija.

Notice is hereby given that PRIMA CASA LAND & HOUSES, INC. (Formerly: LUMINA HOMES, INC.) with office address at LGF Bldg. B, Evia Lifestyle Center, Daang Hari, Almanza Dos, Las Piñas City, is applying for registration with the Board of Investments (BOI) as a New Developer of Economic and Low-Cost housing project (Lumina Pagadian Subdivision) with a capacity of 528 economic and low-cost units on a Non-Pioneer status with project site located at Brgy. Tiguma, Pagadian City.

Any person with valid objection/s on the abovementioned project may file his/her objection in writing, under oath, with the BOI within three (3) days from the date of this publication.

(SGD.) ANGELITA F. ARCELLANA Director Infrastructure and Services Industries Service

(SGD.) ANGELITA F. ARCELLANA Director Infrastructure and Services Industries Service (MS-DEC. , 2020)

(MS-DEC. 5, 2020)

N OTICE Notice is hereby given that SARANGANI BAY SPECIALIST MEDICAL CENTER INC. with office address at National Highway, Makar Junction, Brgy. Apopong, General Santos City is applying for registration with the Board of Investments (BOI) as New Operator of General Hospital- Level 2 under the Preferred ListHealthcare Services Including Drug Rehabilitation Centers (Sarangani Bay Specialist Medical Center) with a capacity of 100 beds on a Non-Pioneer status, with project site located at National Highway, Makar Junction, Brgy. Apopong, General Santos City. Any person with valid objection/s on the abovementioned project may file his/her objection in writing, under oath, with the BOI within three (3) days from the date of this publication.

N OTICE Notice is hereby given that QPAX Traffic Systems Manila, Inc. with office address at Suite 304 State Condominium 1, 186 Salcedo St., Legaspi Village, Makati City, is applying for registration with the Board of Investments (BOI) as New Operator of LGUPPP Project (No Contact Apprehension Program of Manila City) on a Non-Pioneer status with project site at Padre Burgos Ave., Manila City (Manila City Hall). Any person with valid objection/s on the abovementioned project may file his/her objection in writing, under oath, with the BOI within three (3) days from the date of this publication. (SGD.) ANGELITA F. ARCELLANA Director Infrastructure and Services Industries Service

(SGD.) ANGELITA F. ARCELLANA Director Infrastructure and Services Industries Service (MS-DEC. 5, 2020)

Migrant drowns off Greece waters

(MS-DEC. 5, 2020)

ARMED AND DANGEROUS. Fighters from a local armed group Gatia, and pro-government armed group Mouvement de Salut de l’Azawad, patrol around the town of Menaka on November 21, 2020. In October 2020 local armed group Gatia and pro-government armed group Mouvement de Salut de l’Azawad, launched a joint operation called “Menaka Sans Armes”. The operation aims to lower the number of weapons in circulation in and around the city of Menaka. Situated between Mali, Niger and Burkina Faso, Menaka is considered as an epicentre of Islamic State presence in the Sahel region. AFP

Jordanian, Israeli top envoys meet in ‘rare’ negotiation JORDANIAN Foreign Minister Ayman Safadi has held a rare meeting with his Israeli counterpart to press for the restart of stalled negotiations between the Palestinians and the Jewish state. Thursday’s meeting came days after Palestinian Authority leader Mahmud Abbas visited Jordan as part of an Arab tour to raise support for the Palestinian cause after Joe Biden beat Donald Trump in last month’s US presidential election. During the meeting at the King Hussein (Allenby) Bridge crossing between Jordan and the Israeli-occupied West Bank, Safadi said the creation of an independent Palestinian state was key to ending the conflict with Israel. “There is no alternative to a two-state solution” between Israel and the Palestinians, he told Israeli Foreign Minister Gabi Ashkenazi, quoted by the official Petra news agency. “It is necessary to return to the negotiating table according to international law in order to find a real solution to achieve a just peace,” Safadi said. Thursday’s meeting was a rare encounter between officials from the two countries and the first officially reported between Safadi and Ashkenazi since the latter, a former army chief of staff, become foreign minister in May. Jordan and Israel have been bound by a peace treaty since 1994, but relations between the two neighbors are often tense. Safadi said resuming talks between Israel and the Palestinians was timely, “particularly in light of the Palestinian Authority’s decision to resume security cooperation with Israel.” AFP

A WOMAN drowned Wednesday and another was missing after an inflatable boat carrying dozens of migrants sank off the island of Lesbos, the Greek coastguard said. Authorities added that they managed to pull 32 people from the water. “A patrol vessel and rescue groups on land are continuing the search,” a coastguard press officer told AFP. She added that the migrants are Somali. Greece’s migration minister Notis Mitarachi earlier told parliament that the Turkish coastguard had spotted the boat after it issued a distress call, but allowed it to sail on to Greek waters. Like other Greek islands close to Turkey’s Aegean Sea coast, Lesbos is one of the main points where migrants arrive on the EU’s southeastern border. Many boats that attempt the crossing sink, due especially to strong winter winds and overcrowding on the often improvised craft. AFP

Japanese spaceship heads home after 2 years CALL it a special delivery: after six years in space, Japan’s Hayabusa-2 probe is heading home, but only to drop off its rare asteroid samples before starting a new mission. The fridge-sized probe, launched in December 2014, has already thrilled scientists by landing on and gathering material from an asteroid some 300 million kilometres (185 million miles) from Earth. But its work isn’t over yet, with scientists from Japan’s space agency JAXA now planning to extend its mission for more than a decade and targeting two new asteroids. Before that mission can begin, Hayabusa-2 needs to drop off its precious samples from the asteroid Ryugu -- “dragon palace” in Japanese. “The probe is now in a very good condition,” project manager Yuichi Tsuda said on Friday, hailing its return as a “rare event in human history”. Scientists are hoping it will bring around 0.1 grams of material that will offer clues about what the solar system was like at its birth some 4.6 billion years ago. The samples could shed light on “how matter is scattered around the solar system, why it exists on the asteroid and how it is related to Earth,” Tsuda told reporters ahead of Sunday’s drop-off. AFP

Manila

g. Submit a copy of the Escrow Agreement within ten (10) days from execution in case an escrow account has been opened for the unclaimed assets of the investment company in case of liquidation of the assets of the investment company due to its failure to hire a new fund manager under Rule 5.1.10 or dissolution and withdrawal of ICA license of the fund manager;

Standard

TODAY

SECTION 7.

SECTION 16. Rule 7.9 is hereby amended, as follows: Rule 7.9 The fund manager can invest the funds of the feeder fund, fundof-funds or co-managed funds to a target fund that is administered by the fund manager or its related party/company provided that: a.

There shall be no cross-holding between the feeder fund or fund-offunds and the target funds where cross-holding refers to the holding of securities in another by two (2) or more funds;

xxxxxxx

All initial charges on the target fund are waived; and

In case of liquidation of the assets of the investment company due to its failure to hire a new fund manager mentioned above or concurrent dissolution of the fund manager with the investment company, the unclaimed assets of the investment company shall be placed by the liquidator and/or fund manager in an escrow account for ten (10) years or such period until all investors have claimed their investments, whichever is sooner, after which the funds shall be escheated in favor of the government in accordance with the procedure prescribed by existing laws and rules.

The management fee shall be charged only once, either at the level of the feeder fund, fund-of-funds, co-managed funds or at the level of the target fund.

Rule 5.1.10 is hereby amended to read, as follows: 5.1.10. Failure to hire a new Fund Manager.

SEC Memorandum Circular No. 33 Series of 2020 TO

INVESTMENT COMPANIES FUND MANAGERS OTHER ENTITIES DEALING WITH INVESTMENT COMPANIES

SUBJECT

AMENDMENTS TO THE IMPLEMENTING RULES AND REGULATIONS OF THE INVESTMENT COMPANY ACT, AS AMENDED

WHEREAS, Section 35(a) of Republic Act No. 2629, or the Investment Company Act (ICA), and Section 72 of Republic Act No. 8799, or the Securities Regulation Code (SRC), vest upon the Commission the authority to make, issue, amend, and rescind rules and regulations and orders which are necessary or appropriate to the exercise of the powers conferred upon it in the ICA and the SRC; WHEREAS, it is the policy of the State to promote the development of the capital market, protect investors, and ensure full and fair disclosure about securities;

SECTION 8.

a. Hold directly or indirectly ten percent (10%) or more of the total number of issued shares in either the investment company and fund manager or vice versa;

WHEREAS, the Commission seeks to align the Rules with global standards and practices in order to develop the Philippine capital market and help prepare investment companies qualify and compete in international cross-border transactions; WHEREAS, the amended Rules issued on 19 December 2017 need updating for relevance, clarity and ease of use by regulated entities, and on account of some procedural matters to ensure adequate protection to shareholders and unitholders; IN VIEW OF THE FOREGOING, the following rules are hereby promulgated: SECTION 1.

b. Have a common shareholder in the investment company, or the fund manager who holds directly or indirectly ten percent (10%) or more of the total number of issued shares of the investment company or fund manager. SECTION 9.

b. Safe-keep the assets of the investment company which shall be clearly identified and properly labeled as assets or properties of the investment company. Safekeeping by the Custodian applies to all assets which can be held in custody, whether by physical delivery to the custodian or by way of registration in book-entry form in the accounts of the investment company opened with the custodian.

RULE 1 – Definition of Terms

xxxxx 7. Collective Investment Scheme (CIS) – shall refer to an arrangement whereby funds are solicited from the investing public for the purpose of investing, reinvesting and trading in securities or other assets as may be allowed under these Rules and other applicable laws and regulations or such other arrangement as may be registered/authorized/approved by a regulatory authority that is an ordinary or associate member of the IOSCO.

SECTION 10. Rule 5 is hereby amended to read, as follows: Rule 5. 9. Independent Oversight Entity. An investment company shall perform oversight over its fund manager. Hence, the former is required to have an Independent Oversight Entity which shall function as an impartial committee or entity tasked to monitor the transactions and functions carried out by the fund manager.

The term CIS in the Philippines may either have a corporate structure such as an investment company or a contractual structure such as a Unit Investment Trust Fund or similar scheme held by a trust corporation or separate account fund established pursuant to a variable unit linked life insurance policy issued by an insurance company and such other forms of collective investment schemes as may be determined by the appropriate government regulatory agencies such as the Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC), and Insurance Commission (IC).

Rule 5.9.1. Constitution or Engagement of an IOE. An investment company may constitute its Audit Committee as its IOE or may engage the services of a custodian bank, trust entity or an external auditor to serve as such. Rule 5.9.2. Roles and Responsibilities of an IOE. The IOE shall:

xxxxx b.

Rule 5.3.3 is hereby amended to read, as follows: 5.3.3. Responsibilities of a Custodian. The custodian shall have the following responsibilities:

Rule 1 is hereby amended to read, as follows: a.

Rule 5.3.2. (a) and (b) are hereby amended to read, as follows: Rule 5.3.2. Independent Custodian. To be considered independent, the Custodian shall not:

10. Custodian – shall refer to an independent third-party entity duly authorized or accredited by the BSP or the Commission to engage in the business of custodial and/or safekeeping of investment assets of the investment company. It includes a universal or commercial bank with trust license, a non-bank entity with a trust license, a BSPaccredited custodian bank, and a registered securities depository.

Exercise care and diligence when monitoring the transactions and functions of the fund manager;

Oversee the transactions and functions of the fund manager to ensure compliance with the disclosures made in the Registration Statement (RS), prospectus, ICA, SRC and their implementing rules and regulations (IRR). For cross-border offerings or transactions, in addition to the abovementioned, oversee the transactions of the fund manager in order to ensure that it also complies with the standards/ requirements of bilateral or multilateral agreements allowing crossborder offerings/transactions that the Philippines is party to;

xxxxx

SECTION 2.

43. Independent Oversight Entity (IOE) - an impartial committee or entity tasked to monitor the transactions and functions carried out by the Fund Manager

44. Investment Company Assets – shall refer to assets owned by the investment company, held on behalf of stockholders/ unitholders, which are either (i) assets which can be held in custody whether by physical delivery to the custodian or by way of registration in book entry form in the accounts of the Fund opened with the custodian, or (ii) other assets which by their nature cannot be held in custody such as derivative instruments which are subject to the Fund Manager’s recordkeeping obligation and oversight function by the IOE.

Rule 3.3 (d) (e) (h) are hereby amended to read, as follows: 3.3. Classifications of Investment Company. An investment company may be classified by investment policy as either:

Oversee the activities of the fund manager in order to ensure that it complies with the rules on investment restrictions/limitations, liquidity requirements and other regulations involving the operationalization of the investment objectives, investment policy or strategy of the investment company;

Oversee the transactions of the fund manager to ensure that delegation will not result in unnecessary fees to be paid by the investment company and ensure that it will not delegate its function to the extent that it becomes a letter box such as when it no longer has the power to make decisions in the implementation of the investment policy and strategies nor retain the suitable processes to monitor, control the activities and evaluate the performance of the delegatee;

xxx d. Feeder Fund – shall refer to an investment company that invests at least ninety percent (90%) of its net assets in a single CIS established by another Fund Manager, asset management company or fund operator, which shall not be a feeder fund.

e. Fund-of-Funds – shall refer to an investment company that invests at least fifty percent (50%) of its net assets in more than one (1) CIS established by another Fund Manager/s, asset management company/ies or fund operator/s. xxx h. Multi-asset/Asset Allocation Fund - shall refer to an investment company that invests in a fixed or variable mix of both equity and fixed income instruments, as well as cash and cash-equivalents.

SECTION. 3. Rule 3.4 (f) and (j) are hereby amended to read, as follows: 3.4. Minimum Requirements. An investment company applying for incorporation with this Commission shall comply with the following requirements: xxxxxxxxxxxxxxxxxxx

(f) It shall have a minimum subscribed and paid-up capital of Fifty Million Pesos (₱50,000,000.00). However, if the investment company is one of or part of a group of investment companies to be created or already in existence to be managed or under management by the same fund manager with a track record of at least five years, the minimum subscribed and paid up capital shall not be lower than One Million Pesos (₱1,000,000.00) provided an affidavit must be submitted stating such track record of the fund manager. xxxxxxxxxxxxxxxxxxx

SECTION 5.

2. The external auditor shall not be the same as the one auditing the investment company and fund manager.

5.1.2. Responsibilities of a Fund Manager. The fund manager shall have the following responsibilities: Xxxxxxx c. Maintain records and arrange for participants to receive accounts, reports and statements either in hard/physical copies or by electronic means such as but not limited to, transmitting via electronic communication with soft-copy attachments. The participants should be given the option to request for hardcopy accounts and reports within one month from the notification of the availability of the accounts and reports. The fund manager should cause to be made available, hardcopies of the accounts and reports to any participant who provides a written request thereof within ten (10) business days from the date of request or whenever practicable in case of any fortuitous event and other circumstances upon notification by the fund manager of such fortuitous event to the Commission through a Current Report. Participants should also be allowed at any time to opt for hardcopies for all future reports and accounts.

An investment company may engage for this purpose its Audit Committee acting as IOE, provided that it is capable of calculating the NAV, and other service providers capable of calculating the NAV, provided that they are not affiliated with the investment company and fund manager. SECTION 11.

Rule 6.8 (j) is hereby amended to read, as follows: j. No investment company shall purchase from or sell to any of its officers or directors or the officers or directors of its investment advisor/s, manager or distributor/s or firm/s of which any of them are members, any securities other than the capital stock or registered units of the investment company.

SECTION 12. Rule 6.9 is hereby amended to read, as follows: 6.9. Additional Rules on Money Market Funds. Constant net asset value money market funds (C-NAV MMFs) are not permitted. The fund manager that manages an investment company that markets itself as a money market fund or an equivalent fund that primarily invests in high quality debt securities, deposits and money market instruments shall comply with the following: a. Shall have a cash reserve, or assets with high liquidity, low market risk and can be cashed within T+1 day, of at least ten percent (10%) of its net assets; b.

Invest in any of the following: i. high quality debts securities; ii. deposits; and iii. high quality money market instruments Guidance: a high quality money market instrument has:

xxxxxx

a remaining term to maturity of not more than 397 days; and an issuer credit rating that is: 1. in the case of short-term credit rating, one of the two highest credit ratings; and 2. in the case of long-term credit rating, one of the three highest credit ratings.

(a) (b)

g. Ensure that all assets of the investment company are deposited with an independent custodian except those which cannot be placed in the custody of the custodian such as: 1)

Investments in deposits;

2) Investments in other foreign/domestic collective investment schemes provided that the custodian and transfer agent (if applicable) of the CIS is approved by local regulations or registered/authorized/ approved, as the case may be, by a regulatory authority that is an ordinary or associate member of the IOSCO; 3)

OTC Derivatives; and

Such other assets as may be allowed by the Commission.

Guidance: All other assets which by their nature cannot be held in custody by the Custodian are subject to the fund manager’s recordkeeping obligation and oversight function by the IOE. In such cases, the IOE must be informed of the records of those assets for which it is satisfied that the investment company holds ownership of such assets. SECTION 6.

Rule 5.1.9 is hereby amended to read, as follows: 5.1.9. Withdrawal of license as Fund Manager. The fund manager shall undertake the following procedures: xxxxxxx c. Submit an undertaking/affidavit of assumption of liabilities of subject company’s officer, director or majority stockholder stating in effect that should third parties having claims against the corporation appear in the future (in the next five [5] years), said officer, director or majority stockholder may be held responsible for said claims including the submission of the reportorial requirements under Rule 13.1.8 for the redemption of securities of the investment company in case of concurrent dissolution of the fund manager and the investment company; xxxxxxx f. Submit an undertaking/affidavit of the appointed liquidator pursuant to Rule 13.1.2 (e) (i) and (ii) stating that the liquidator will assume the fund manager’s obligation to liquidate assets on behalf of the investment company, within a maximum period of six (6) months from the receipt of the investment company of the Order revoking the Registration Statement and its Certificate, if the fund manager cannot liquidate the assets of the investment company prior to the fund manager’s dissolution and to assume the fund manager’s obligation in relation to the reportorial requirements under Rule 13.1.8 for the redemption of securities of the investment company.

8.2. Daily Computation and Publication of the NAVps/NAVpu. The fund manager shall compute and post the net asset value per share/unit of the Investment Company on a daily basis and shall: a.

Publish such daily prices in at least two (2) national newspapers of general circulation which may be done through the industry organization/s; or

Upload daily in its website or industry association, through digital portals such as its website or social media accounts; or post them daily in a conspicuous place at the principal office of the investment company as well as in all its branches or correspondent offices which are designated redemption centers.

SECTION 18. Rule 8.6. is hereby amended to read, as follows: a.

iv.

financial derivatives for hedging arrangements

SECTION 19. Rule 10.4 is hereby amended to read, as follows: Rule 10.4. Suspension of Redemption of Shares or Units. The Commission motu proprio or, upon the request of a fund manager, may suspend the redemption of securities of investment company if: xxxxxxxxxxxxxxxxxxx If the request for suspension of redemption of shares or units is made by the Fund Manager, for any of the grounds mentioned above, the approval of the IOE must be secured. SECTION 20. Rule 10.5 is hereby amended to read, as follows: 10.5. Period for the Suspension of Redemption of Shares or Units. The Commission shall provide the period of suspension of redemption which shall not be more than twenty-one (21) business days, unless an extension is approved by the Commission En Banc. The fund manager must report to the Commission when dealing in units/shares of the investment company is resumed. SECTION 21. Rule 11.3 is hereby amended, to read as follows: Rule 11.3. Separate booking and recording for shares and units. A fund manager that manages an investment company which issues both shares and units of participation shall ensure proper booking or recording of transactions to separate the assets, liabilities, income and expenses corresponding to each type of securities issuance. An investment company offering units of participation may make periodic distribution of income to investors of the fund on a prorata basis; provided, that the distribution of income shall be made only from cash received from interest income and/or cash dividends earned after deduction of applicable taxes and expenses. Investment companies issuing units of participation shall be exempt from SEC Memorandum Circular No.11, series of 2008 or any amendment thereto. SECTION 22. Rule 13.1.2 (e) (i) and (ii) are hereby amended to read, as follows: Rule 13.1.2 Procedures for the Suspension or Revocation of Registration of Securities and License of the fund manager. The fund manager shall carry out the liquidation of assets on behalf of the investment company. In all cases of revocation of the Registration Statement and Certificate of Permit to Offer Securities for Sale, the fund manager must liquidate the assets within a maximum period of six (6) months from the receipt of the investment company of the Order revoking the Registration Statement and its Certificate. e. In case of concurrent dissolution of the fund manager and the investment company, the following must be complied with: i.

The fund manager must appoint a liquidator that will assume its obligation to liquidate of assets on behalf of the investment company, within a maximum period of six (6) months from the receipt of the investment company of the Order revoking the Registration Statement and its Certificate, if the fund manager cannot liquidate the assets of the investment company prior to the fund manager’s dissolution. In such case, an Affidavit and Undertaking of the liquidator must be submitted to the Commission;

ii.

The unclaimed assets of the investment company from the date of dissolution of the fund manager shall be placed by the fund manager in an escrow account for ten (10) years or such period until all investors have claimed their investments, whichever is sooner, after which the funds shall be escheated in favor of the government in accordance with the procedure prescribed by existing laws and rules; and

iii.

The fund manager must appoint a director, officer, majority stockholder or liquidator to assume its obligation in relation to the reportorial requirements under Rule 13.1.8 for the redemption of securities of the investment company. In such case, an Affidavit and Undertaking of the director, officer, majority stockholder or liquidator must be submitted to the Commission.

SECTION 23. Rule 13.1.8. is hereby amended, to read as follows: 13.1.8. Residual Obligation of the Investment Company with a Revoked Registration Statement. The investment company, or the fund manager, shall inform the Commission of the status of the redemption of securities every 30th of January until all the shares/units have been fully redeemed. x x x xx x In case of concurrent dissolution of the fund manager and the investment company, the person or entity that has assumed the liabilities of the fund manager shall file a monthly report with the Commission, within ten (10) days after the end of every month, on the redemption of securities in the immediately preceding month. The report shall include the following: 1. 2. 3. 4.

not be aimed at generating a return; result in an overall verifiable reduction of the risk of the qualifying CIS; offset the general and specific risks linked to the underlying being hedged; relate to the same asset class being hedged; and be able to meet its hedging objective in all market conditions.

Shall not engage in direct lending of monies.

Guidance: Direct lending of monies refers to an instance in which an investment company lends money or makes loan directly to other entities (borrower) without intermediaries. SECTION 13. Rule 6.10 (b) is hereby amended to read, as follows: 6.10. Liquidity Requirements. For liquidity purposes, unless otherwise prescribed by the Commission, at least ten percent (10%) of the assets of an investment company shall be invested in liquid/semi-liquid assets. xxxxxxx b. The investment company may implement a decreased investment of less than ten percent (10%) of its assets in liquid/semi-liquid assets, provided, however, that it shall submit a notarized liquidity contingency plan, signed by the president of the fund and its fund manager. SECTION 14. Rule 6.11.1. is hereby amended to read, as follows: xxxxxxx The computation and expense ratio of the investment company must be disclosed in the quarterly and annual report.

Number of shares redeemed; Number of shareholders or unitholders whose securities were redeemed; Number of shareholders or unitholders whose securities are yet to be redeemed; and The reasons why their securities are not yet redeemed.

SECTION 24. Rule 13 is hereby amended to read, as follows: RULE 13– Suspension, Revocation or Liquidation xxxx Rule 13.3- Liquidation of Assets of an Investment Company with a Revoked Registration Statement The fund manager shall carry out the liquidation of assets on behalf of the investment company. In all cases of revocation of the Registration Statement and Certificate of Permit to Offer Securities for Sale, the fund manager must liquidate the assets within a maximum period of six (6) months from the receipt of the investment company of the Order revoking the Registration Statement and its Certificate. Rule 13.3.1. Appointment of a Liquidator in case of Concurrent Dissolution of the Investment Company and Fund Manager In case of concurrent dissolution of the fund manager and the investment company, where applicable under Rule 13.1.2 e (i) or in such other cases under the Rules, the appointed liquidator is tasked to convert the assets of the investment company to money and dispose of the same to investors, stockholders and other parties. Any qualified natural or juridical person may serve as a liquidator; provided, that if the liquidator is a juridical entity, it must designate a natural person/s who possess/es all the following qualifications: i.

A citizen of the Philippines or a resident of the Philippines in the six (6) months immediately preceding his appointment;

ii.

Of good moral character and with acknowledged integrity, impartiality and independence;

iii.

Has the requisite knowledge of commercial laws, rules and procedures, as well as the relevant training and/or experience that may be necessary to enable him to properly discharge the duties and obligations of a liquidator; and

iv.

Such other qualifications as may be determined by the Commission taking into consideration the protection of interests of all stockholders/unitholders.

The hedging arrangement should: (a) (b)

Rule 8.6. Valuation Error or Incorrect Price. In case of valuation error or when incorrect pricing occurs, the fund manager shall:

Report to the IOE and Commission within five (5) business days from the valuation error or incorrect pricing is found on the: xxxxxxxxxxxxxxxxxxx

If necessary, recommend to the Board of Directors of the investment company that the fund manager be removed due to its inability to fulfill its functions.

1. The custodian bank or trust entity must be duly licensed by the Bangko Sentral ng Pilipinas, provided that it does not hold directly/ indirectly 10% or more of the total number of issued shares in the investment company, fund manager, or vice versa, nor have a common shareholder that holds directly/indirectly 10% or more of the total number of the issued share capital of the investment company or fund manager; and

Rule 5.1.1 (a) (i) is hereby amended to read, as follows:

Rule 5.1.2 (c) and (g) are hereby amended to read, as follows:

Report to the Commission, any act of the fund manager which in its opinion may be detrimental to the interests of the shareholders or unitholders even if the said act is not in violation of any law, rule or regulation, not later than five (5) business days from knowledge thereof; and

To be considered independent, the following criteria must be met:

5.1.1. Qualifications of a Fund Manager An investment company shall appoint a fund manager with an investment company Adviser. The following are the requirements for the licensing of an ICA: Paid-up capital of at least Fifty Million Pesos (₱50,000,000.00) which shall remain unimpaired at all times, provided the fund manager shall be required to have an additional unimpaired capital requirement of 0.02% of the excess of One Hundred Billion Pesos (₱100,000,000,000.00) of the total AUM, which additional capital infusion shall be made within 30 days after the end of the fiscal year the AUM increased. However, the amount of additional capital requirement is capped at Php1 Billion.

If, in the reasonable opinion of the IOE, the fund manager has not complied with any of the laws, rules or regulations applicable to the investment company and/or it failed to report to the Commission the said non-compliance, notify the Commission of its opinion, including particulars of the non-compliance, not later than five (5) business days after forming the opinion or upon knowledge of the non-compliance. The notification shall be done by filing an SEC Form 17-C. It shall also notify, without delay, the members of the Board of Directors of the investment company of its opinion so that the Board can apprise the fund manager of the said noncompliance and address any resulting breach;

Rule 5. 10 Independent Net Asset Value Calculator. An investment company must appoint an independent entity that will calculate or cross-check its net asset value (NAV) every dealing day which may be the custodian bank, trust entity, external auditor, audit committee or other service providers capable of calculating the NAV.

(j) An investment company shall not be required to comply with the minimum subscribed and paid–up capital relative to the increase in its authorized capital stock provided the minimum subscribed and paid-up capital under Rule 3.4 (f) or any of its amendments is complied with. SECTION 4.

Oversee the subscription and redemption of shares or units facilitated by the fund manager and to approve the request of the fund manager in the case of suspension of redemption of shares or units whenever necessary for the protection of the investors subject to the rules on Suspension of Redemption provided under Rule 10.4 of ICA-IRR;

SECTION 17. Rule 8.2. is hereby amended to read, as follows:

Rule 13.3.2. Appointment of an Escrow Agent for the Unclaimed Assets of an Investment Company Where applicable in case of liquidation of the assets of the investment company due to its failure to hire a new fund manager under Rule 5.1.10 or concurrent dissolution of the fund and its fund manager under Rule 13.1.2 e (ii), the fund manager must appoint an escrow agent responsible for the management and release of the escrowed asset/s or unclaimed assets of the investment company from the date of dissolution of the fund manager for a period of ten (10) years or such period until all investors have claimed their investments, whichever is sooner, after which the funds shall be escheated in favor of the government in accordance with the procedure prescribed by existing laws and rules.

SECTION 25. Separability Clause. Any portion or provision of this Memorandum Circular that may be declared invalid shall not have the effect of nullifying other portions or provisions hereof as long as such remaining portion or provision can still subsist and be given effect in their entirety. SECTION 26. Repealing Clause. All rules and regulations or parts thereof inconsistent herewith are hereby repealed or modified accordingly. SECTION 27. Effectivity. This Circular shall take effect within fifteen (15) days after its publication in two (2) newspapers of general circulation. Pasay City, Philippines, 27 November 2020. For the Commission:

SECTION 15. Rule 7.2 is hereby amended, as follows: 7.2. The prospectus or offering materials to be disseminated by the feeder fund, fund-of-funds, or co-managed funds in connection with its offer of securities shall provide an explanation or illustration of a feeder fund or a fund-of-funds and shall likewise make available all relevant information on the target fund/s.

EMILIO B. AQUINO Chairperson

(MS-DEC. 5, 2020)

Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor business@manilastandard.net extrastory2000@gmail.com

SATURDAY, DECEMBER 5, 2020

Business

PSE INDEX

Friday, Dece,ber 4, 2020

-59.57 PTS. 7,134.56

TOTAL VOLUME TOTAL TRADES TOTAL VALUE ADVANCES DECLINES UNCHANGED

12,607,429,136 144,024 8,474,921,633.33 121 103 49

F oreign e xchange r ate Bangko Sentral ng Pilipinas • FRIDAY, DECEMBER 4, 2020

Currency

Unit

US Dollar

Peso

United States

Dollar

1.000000

48.0460

Japan

Yen

0.009631

0.4627

Pound

1.345600

64.6507

Hong Kong

Dollar

0.129017

6.1988

Switzerland

Franc

1.122460

53.9297

Canada

Dollar

0.777605

37.3608

Singapore

Dollar

0.749738

36.0219

Australia

Dollar

0.743800

35.7366

Bahrain

Dinar

2.652238

127.4294

Saudi Arabia

Rial

0.266610

12.8095

Brunei

Dollar

0.746938

35.8874

Indonesia

Rupiah

0.000071

0.0034

Thailand

Baht

0.033135

1.5920

UAE

Dirham

0.272272

13.0816

Euro

1.214400

58.3471

Korea

Won

0.000916

0.0440

China

Yuan

0.152863

7.3445

India

Rupee

0.013539

0.6505

Malaysia

Ringgit

0.245519

11.7962

New Zealand

Dollar

0.707300

33.9829

Taiwan

Dollar

0.035196

1.6910 Source: BSP

Japan health firm discloses plan to expand PH operations By Othel V. Campos ARKRAY Industry Inc., a subsidiary of Arkray Inc. of Japan, is expanding operations in the Philippines with plans to manufacture hemoglobin A1c test cartridge and assemble reverse transcription-polymerase reaction testing machines. The local subsidiary said it would also increase the production capacity of urine and blood analyzers, blood glucose test meters and its reagents, as it widened its networks and partnership with local associations, distributors and agencies. “We have been seeing signs of recovery. The expansion plans of companies such as Arkray is a testament of the country’s resiliency even in times of adversities. Truly, we can really make things happen for foreign and local investors for them to grow their businesses here amidst challenges,” said Trade Secretary Ramon Lopez. The company recently ventured into producing RT-PCR test kits its Batangas after the project was approved by the Philippine Economic Zone Authority in September. “And with the increased testing capacity of our country, the demand for testing has also increased. This policy is an opportunity for the government to regulate the prices of testing to make it more affordable and accessible to all Filipinos,” Lopez said. The company employs 500 people and will likely hire more workers as it activates its expansion program. The Food and Drug Administration issued certifications for these test kits upon validation testing conducted by Research Institute for Tropical Medicine. The evaluation report indicated that the RT-PCR Test Kits are 100-percent sensitive and 100-percent specific with a 95-percent confidence interval. The RT-PCR test kits have a short turnaround time of 1.5 hours and an accuracy rate of 90 to 98 percent. The kits, however, are produced only on a per order basis with the total production output depending on the demand of clients to maintain accuracy considering its short shelf life. “Arkray’s recent business activity also reaffirms our competence to host activities in the production of critical medical products and devices in the country. Even during the height of the pandemic, the Philippines did not impose any export restriction of these products but rather helped capacitate the manufacturing firms to enable them to support both domestic and foreign demand” said Trade Undersecretary Ceferino Rodolfo.

TEST BEFORE BOARDING. Cebu Pacific pilots the Test Before Boarding scheme for its flight to General Santos City. More than 290 passengers went through antigen testing just hours before their scheduled flight, free-of-charge, on Dec. 3. Tests were conducted by DOH-accredited Philippine Airport Diagnostic Laboratory. Leading the event are (from left) Candice Iyog, CEB vice president for marketing and customer experience; Dr. Mickey Gonzaga, chief operations officer of PADL; and Alex Reyes, president and chief executive of Cebgo.

November inflation rate hit 3.3% on higher food prices By Julito G. Rada

HE inflation rate in November climbed to a 20-month high of 3.3 percent from 2.5 percent in October on higher food prices following a series of strong typhoons that exacerbated the impact of COVID-19 pandemic, data from the Philippine Statistics Authority show Friday. The November figure was higher than the 1.3-percent inflation rate in November 2019 and the highest increase in consumer prices since March 2019 when the figure also reached 3.3 percent. The November figure brought the average inflation rate in the first 11 months to 2.6 percent, still within the government’s target range of 2 percent to 4 percent for the year. Acting National Economic and Development Authority Director-General Karl Kendrick Chua said transport services and agricultural products such as meat and vegetables were the top

contributors to the November inflation. “This is due to the restrictions on public transport as a result of COVID-19, persistence of African Swine Fever and damage and losses in high-value crops following the onslaught of several typhoons and flooding in November 2020,” he said. Food inflation accelerated to 4.5 percent in November from 2.1 percent in October following weather disturbances. Based on the latest estimates of the Department of Agriculture as of Nov. 17, the combined amount of damage and losses to the agriculture sector brought

by typhoons Ofel, Nika, Pepito, Quinta, Rolly, and Ulysses reached P15.3 billion. Among the regions, Bicol was the most affected, followed by CALABARZON, Cagayan Valley and Central Luzon. “Our experience with the recent typhoons has highlighted the need for long-term engineering interventions, reforestation, and coordinated flood management systems across different LGUs and the need to intensify the distribution of climate-resilient technologies and other production support assistance to mitigate production loss in the agriculture sector,” said Chua. Meanwhile, inflation for transport services remained elevated in the last six months, as a result of social distancing directives and reduced passenger capacities in all modes of public transport. Chua cited the need to revisit public transport system guidelines and for LGUs and the Land Transportation Franchising and Regulatory Board to monitor and review prevailing and unwarranted fare increases in public transport.

PANGASINAN BROADBAND. The

Department of Information and Communications Technology signs an agreement with the province of Pangasinan and the municipality of Manaoag for the implementation of the Free Wi-Fi for All Program and the construction of the Pangasinan Provincial Broadband Network and the Manaoag Municipal Broadband Network. At the signing ceremony are (from left) DICT Undersecretary Jose Arturo De Castro, DICT Secretary Gregorio Honasan, Pangasinan Governor Amado Espino III and provincial administrator Nimrod Camba.

Metro Manila Subway project to traverse 5 military properties By Darwin G. Amojelar THE Department of Transportation said Friday it signed an agreement with the Department of National Defense to use parts of its real estate properties for the Metro Manila Subway Project-Phase I. Under the memorandum of agreement, five DND properties will be used for the development of designs for convenient access points to Metro Manila Subway stations and terminal interchange plazas. These properties are the Veterans Memorial Medical Center for the North Avenue Station; V. Luna Hospital for East Avenue Station; Camp E. Aguinaldo for Camp Aguinaldo Station; Philippine Army for interstation between Lawton and Senate-DepEd Stations; and Villamor Air Base for interstation between Senate-

DepEd and FTI/NAIA T3 Stations. The DOTr said three of the 17 subway stations would be located near or inside the DND properties. These stations will be built in consideration of the future development plans of the DND for their camps and bases, it said. The agency said the right-of-way usage agreement would not only speed up access to construction and work sites needed for the subway, but also give DND and the Armed Forces of the Philippines a fair and recurring source of resources for the betterment and upliftment of armed forces personnel. The DOTr said it would replicate affected DND-AFP structures and facilities, including the construction of 192 units of armed forces housing in Camp Aguinaldo and the improvement of those in the Vet-

erans Golf Course. The partial operability of the subway with its first three stations at Quirino HighwayMindanao Ave., Tandang Sora and North Avenue is targeted in 2022, while full operations of all 15 stations are set in 2025. The P355.6-billion subway will be an expansive 36-kilometer railway system with 15 stations from Quirino Highway in Quezon City to NAIA Terminal 3 in Pasay and FTI in Taguig, crossing seven local government units and passing through three business districts. With a speed of up to 80 kilometers per hour, travel time from Quezon City to NAIA Terminal 3 will go down to 30 minutes. In its first year of full operations, the MMSP is expected to serve up to 370,000 passengers daily, although it has a design capacity to accommodate up to 1.5 million passengers.

Bank loans posted smallest growth of 1.9% in October despite record-low interest rates OUTSTANDING bank loans rose 1.9 percent in October from a year ago, the smallest growth in years, despite the record-low interest rates set by the Bangko Sentral ng Pilipinas to encourage lending amid the pandemic. Data from the BSP showed outstanding loans actually dropped on a monthly basis to P8.69 trillion in October from P8.72 trillion in September. “On a monthon-month seasonally-adjusted basis, outstanding universal and commercial bank loans, net of RRPs [reverse repurchase],

declined by 0.4 percent,” it said. Loans were expanding more than 10 percent at the outset of the pandemic. “The overall slowdown in bank lending growth reflects the combined effects of muted business confidence and banks’ stricter loan standards attributed mainly to continued disruptions in business operations,” the BSP said. Loans for production activities, net of RRPs, grew 2.0 percent in October, slower than the revised 2.3 percent in September amid the continued contraction in

outstanding loans to key sectors, including manufacturing (-3.6 percent), wholesale and retail trade and repair of motor vehicles and motorcycles (-4.3 percent). Loans to households expanded at a slower pace of 8.0 percent in October from the revised 9.8 percent in September, driven by the slowdown in credit card and motor vehicle loans and salary-based general purpose consumption loans during the month. Meanwhile, domestic liquidity growth also decelerate to 11.8 percent in Octo-

ber, slower than the revised 12.2-percent growth in September. On a month-onmonth seasonally-adjusted basis, M3 increased by 0.7 percent. “Domestic claims grew by 7.9 percent year-on-year in October from 8.1 percent [revised] in the previous month as bank lending remained tepid. Growth in loans for production activities eased amid the contraction in lending to key sectors such as manufacturing as well as wholesale and retail trade and repair of motor vehicles and motorcycles,” the BSP said. Julito G. Rada

IN BRIEF Gov’t debt increased by P658.8b in October THE government’s total outstanding debt as of end-October 2020 rose by P658.81 billion, or 7 percent, to P10.027 trillion from the end-September level, driven mainly by the availment of external and domestic loans used to fund the budget deficit amid the COVID-19 pandemic, the Bureau of the Treasury said Friday. The Treasury said in a statement 28.4 percent of the total outstanding debt stock were secured from foreign sources while 71.6 percent were obtained from the domestic market. Domestic debt amounted to P7.077 trillion, P638.99 billion or 9.9 percent higher than the end-September level due to additional short-term borrowing availed from the Bangko Sentral ng Pilipinas alongside the net issuance of domestic government securities. To date, domestic debt has increased P1.949 trillion, or 38 percent, since the beginning of the year. Meanwhile, the external debt of P2.950 trillion was P19.83 billion, or 0.7 percent higher from the previous month. “For October, the increment in external debt was attributed to the P18.98 billion net availment of external loans and P2.42 billion net appreciation of third-currency against the US dollar, offsetting the effect of localcurrency appreciation amounting to P1.57 billion,” Treasury said. Julito G. Rada

PSALM sells Cagayan and Bohol properties STATE-RUN Power Sector Assets and Liabilities Management Corp. successfully sold early this week its real estate properties in Loboc, Bohol and Camalaniugan in Cagayan. PSALM said in a statement Friday local developer Sta. Clara Power Corp. is the winning party for the Loboc property, while Cagayan II Electric Cooperative (CAGELCO II) bagged the Camalaniugan real estate deal. SCPC’s financial bid for the Loboc property amounted to P12.2 million while CAGELCO II’s bid offer for the Camalaniugan property was P3.22 million. “The two firms will still undergo the postqualification process before they can be finally declared as the new owners of the said properties,” the company said. PSALM, which is mandated by the Electric Power Industry Reform Act of 2001 to manage the assets and liabilities of Napocor, said it would use revenues from the successful sale of land assets to settle the financial obligations it assumed from Napocor. Alena Mae S. Flores

Vivant signs P3-b note agreement VIVANT Corp. signed a P3-billion note facility agreement to finance capital expenditures and refinance maturing debt. Vivant said in a disclosure to the stock exchange said notes had tenors of two and five years. The company said it would use proceeds from the fund raising activity to finance capital expenditures for existing assets and investments in power generation or water infrastructure projects, and partly to refinance the fixed rate corporate notes maturing in February next year. First Metro Investment Corp. arranged the issuance while Metropolitan Bank & Trust Company–Trust Banking Group acted as the facility agent. Vivant earlier reported it is investing more than P2 billion in energy projects and looking to expand its water infrastructure business, including bulk water supply and wastewater treatment. Jenniffer B. Austria

Manila Water and partners bag seven-year deal in Saudi Arabia By Jenniffer B. Austria A CONSORTIUM composed of Saur SAS, Miahona Company and Manila Water Company Inc. bagged a sevenyear deal to “manage, operate and maintain” the water and wastewater facilities of Saudi Arabia’s North West Cluster. Manila Water said in a disclosure to the stock exchange Friday the project involves the management, operations and maintenance of the water and wastewater facilities of Madinah and Tabuk. It entails the implementation of “enabling projects and deployment of key personnel to manage the cluster and achieve the key performance indicators target set by the North West Cluster,” it said. Manila Water’s partners Saur SAS is the third largest player in the French water distribution and waste water management market, while Miahona is a developer and operator of municipal and industrial water and wastewater assets in the Middle East and North African region. North West Cluster is the first of six contracts to be awarded to the private sector to improve the quality of water services. Manila Water, through unit Manila Water Asia Pacific Pte. Ltd., also has water supply projects in Vietnam. Apart from its operations in Vietnam, Manila Water has associates in Thailand and Indonesia through Eastern Water Resources Development and Management Public Company Limited, a fully integrated water supply and distribution company and PT Sarana Tirta Ungaran, an industrial water supply operation in Indonesia, respectively. The share price of Manila Water rose P0.020 on Friday to close at P15.52.

Motoring

RAMON L. TOMELDAN Editor

SATURDAY, DECEMBER 5, 2020

Nissan LEAF reaches milepost

APAN-BASED auto maker Nissan celebrated the 10th anniversary of the Nissan LEAF electric car and the delivery of 500,000 LEAF vehicles since the model was first introduced. “In marking these milestones, we firstly want to express our appreciation to all the customers who have come on this electrifying journey with us,” said Nissan President and CEO Makoto Uchida. “By switching to electric mobility, customers around the world have brought us all closer to a more sustainable and resilient society.” Beyond mobility, the Nissan LEAF has contributed to society by helping power homes and businesses and providing emergency electricity during natural disasters. Alongside Nissan’s other electrified powertrain vehicles, the LEAF continues to show the way to a sustainable, resilient, zero-emission society. From the pioneering first version in 2010 to the LEAF e+ introduced in 2019, the 500,000 customers who have chosen the LEAF have helped drivers around the world realize the benefits of electric vehicles, both in terms of sustainability and in their daily lives. Nissan estimates that LEAF owners

have driven their cars approximately 16 billion kilometers (approximately 10 billion miles)1 cumulatively, worldwide, preventing more than 2.5 billion kilograms1 of CO2 emissions from entering the atmosphere. Today’s customers also expect electric cars to make their daily lives more enjoyable. Nissan is developing a growing lineup of advanced electrified cars and technologies that meet a wide range of needs and help customers feel more confident, connected and excited. In July this year, Nissan unveiled the Nissan Ariya all-electric crossover. The Ariya embodies Nissan’s strengths in electric vehicle development and features the latest in Nissan Intelligent Mobility technologies and design. The Ariya is a key model in the company’s Nissan NEXT transformation plan, under which Nissan plans to sell 1 million electrified vehicles annually by 2023, including EVs and vehicles with e-POWER electrified powertrains.

More than 500,000 customers have switched to the EV, helping electrify the world

Four meaningful activities you, your family can do this Christmas \THE Yuletide season this year will undoubtedly be a different one given our current situation. But that doesn’t necessarily mean it will be a “Blue Christmas”. Despite the events that have transpired and the physical restrictions still in place, the Christmas spirit of hope, love, and goodwill has the potential to shine brighter than it ever has this year—especially if you’re one of those who learned, because of the pandemic, that when all is said and done, what truly matters the most is each other.

So how can you and your family embrace the holiday spirit and ensure a memorable and meaningful Christmas? Here are some ideas: Embrace the gift of giving Besides the pandemic, which continues to affect Filipinos beyond the physiological, there have been plenty of typhoons and calamities this year that have affected our kababayans, who are now in need of help. With Christmas fast approaching, we can

embody the spirit of giving by donating money, food, and clothes to different beneficiaries and organizations that organize relief efforts for affected communities. If you wish, make it a family thing. Set a day where you and your family can look around your homes for quality items to give away and properly segregate them together, a day where you can purchase new clothes, food, and items for donation, and another day to drive to different donation centers. Just know that your family’s effort

can bring another family warmth and joy. Spend quality time with relatives So long as you’re one hundred percent sure that you, your family, and whoever you are visiting are well away from the coronavirus, it would be good to visit members of your extended family, especially those you haven’t heard from for a while. You and your family’s presence alone would be a great gift for these relatives of yours. Purchase a rewarding, yet practical gift

After a grueling year that’s looking to improve—vaccines manufacturers are wrapping up their final trials with encouraging results—it’s safe to say that we all deserve a good reward or gift for surviving this year in our own little and big ways and to celebrate what looks like a better year ahead. If you have enough saved up, don’t hesitate to buy you and your family something nice. Just make sure that what you purchase can actually be useful especially in the next normal. A good example would be an allaround vehicle like the Honda BR-V. This comfortable and right sized 7-seater SUV is loaded with advanced technology and safety features that make it a perfect vehicle for both city driving and long country road driving. What’s more is that it can save you a ton thanks to its fuel-efficient 1.5L engine and low cost of ownership— it only needs to undergo maintenance twice a year.

FASTLANE

Toyota CSR reaps 2 gold award TOYOTA Motor Philippines Corporation together with its social and humanitarian arm TMP Foundation, received awards for outstanding Corporate Social Responsibility programs during the recently concluded 4th Driven to Serve Awards bestowed by the Society of Philippine Motoring Journalists. During the virtual awarding ceremony, Toyota bagged two Gold Awards, specifically for implementing the Vegetable Garden Project in its adopted school in Santa Rosa, Laguna and for initiating the nationwide Start Your Impossible: National Mangrove-Planting and Coastal Clean-up activity among TMP employees and Toyota dealers across the country. Toyota also received a Silver Award for its Breast Cancer Awareness Project for female faculty and staff at its adopted school. These

programs are testament to Toyota’s long-term commitment to extend assistance to partner communities and ultimately help uplift the lives of more Filipinos. Receiving the awards for Toyota are (from left) TMP vice chairman and TMPF president Dr. David Go, TMP first vice president for Corporate Affairs Group Rommel Gutierrez, and TMPF assistant vice president Ronald Gaspar.

CST caps off 2020 with a new moto tire CHENG Shin Tire (CST), the largest manufacturer of motorcycle tires in the world, bids 2020 goodbye with the launch of its latest tire offering for moto street bike riders -- the CM619. The CM619, a Motorycle Street Tire, features a tread design and composition perfect for moto street bike riders who primarily drive on an urban road network but occasionally take on high speed touring. The CM619 boasts traction, stability and endurance. It has a circumferential main groove that supports efficient directional control during high-speed cornering while mitigating strain and cracking on the middle tread during high-speed banking. For efficient and excellent control, the CM619 comes with calibrated and well-positioned sipes on the shoulder, thereby boosting overall stability especially during cornering and banking. This new tire is made to stand the test of time with an intersection structure design

that supports a high-binding force for the tire casing to prevent unwanted deformation. The reinforced design on the sidewall also improves casing strength, allowing the controlled flexing of the sidewall and prolonging tire life.

Sports

SATURDAY, DECEMBER 5, 2020 Riera U. Mallari, Editor; Reuel Vidal, Assistant Editor

Olympic medalists get outright HOF nomination Postponed Olympics to cost extra $2.4 billion TOKYO—The coronavirus-delayed Tokyo Olympics will cost at least an extra $2.4 billion, organizers said Friday, with the unprecedented postponement and a raft of pandemic health measures ballooning an already outsized budget. Tokyo 2020 said an additional $1.5 billion would be needed for operational costs related to the delay, with another $900 million in spending on coronavirus countermeasures for the Games next year. The dollar figure is calculated at an exchange rate of 107 yen, and is closer to $2.56 billion when calculated at today's rate. The costs could rise further, with Tokyo 2020 saying it will release an additional $250 million in "contingency" funds to help cover the expenses. The extra costs come as organizers and Olympic officials work to build enthusiasm and momentum for the first Games postponed in peacetime, insisting that the massive international event can go ahead next year even if the pandemic is not under control. But more spending could further harden public opinion in Japan, where polls earlier this year showed a majority of people think the Games should be postponed again or cancelled together. The additional costs will be split between the national government, the city of Tokyo and the organizers. Meanwhile, about 18 percent of tickets sold in Japan for next year's coronavirus-postponed Olympics will be refunded, Tokyo 2020 organizers said Thursday, with over 3.6 million seats still reserved domestically for the Games. AFP

HE Philippine Sports Hall of Fame Review Committee adopted a resolution approving the automatic nomination of Olympic medalists during a virtual meeting last Tuesday.

PSHOF 2020 Chairperson and Philippine Sports Commission chairman William Ramirez, who headed the meeting, supported the inclusion of the “very few” medalists of the country in the Games. “Achieving a medal from the most prestigious Games in history is something worth recognizing for a lifetime. They deserve it even without the pro-

cess of someone voluntarily proving it for them,” said Ramirez. Akiko Thomson Guevara, representing the Philippine Olympian Association in the Review Committee, volunteered to produce the names of all the country’s Olympic medalists in the next meeting. There are only a total of 10 Filipino medalists in the history of the Philip-

pines in the Summer Olympics since 1924. Teoﬁlo Yldefonso, the only athlete to win a back-to-back Olympic medal in 1928 and 1932, holds the record to date. The PSHOF Review Committee seeks to have the Olympic medalists honored to ensure that they are never forgotten. Among the members of the committee are Games and Amusements Board chairman Abraham Mitra, Philippine Olympic Committee Secretary-General Atty. Edwin Gastanes, Integrated Cycling Federation of the Philippines Sec-

retary-General Atty. Avelino Sumagui, and University Athletic Association of the Philippines Executive Director Atty. Rene Saguisag Jr. Following the signing of Republic Act No. 8757 or the Philippine Sports Hall of Fame Act, the highest sports award-giving body has enshrined Filipino athletes, coaches, and trainers who made a valuable contribution in Philippine sports since its ﬁrst induction in 2010. Nominations for the Philippine Sports Hall of Fame 2020 are extended until the end of January 2021.

Application forms for PBA draft available starting Dec. 7 THE Philippine Basketball Association opens the door for prospective rookie hopefuls in its Season 46 Draft as applications will be open starting Dec. 7. The date gives applicants, both local and Fil-Am players, at least a month to complete their needed requirements before the deadline of submission on January 27, 2021. The league sets the rookie draft on March 14. The rookie application and draft proceedings were among the agenda tackled when the PBA Board under chairman Ricky Vargas met with Commissioner Willie Marcial on Thursday. The league, for this Season 46 Draft, decided to do away the required stint in the D-League. This early a slew of national team standouts have already declared their intentions to apply for the draft. Tokyo 2020 President Yoshiro Mori (left) and CEO Toshiro Muto meet with the media after an opening plenary session of the threeparty meeting on Tokyo 2020 Games additional costs due to the impact of the COVID-19 pandemic in Tokyo. AFP

Gilas in February tourney a mix of pros, cadets By Arman Carandang

Juan Gomez de Liano: Ready today

IT looks like the Gilas team that will play in the third window of FIBA Asia Cup qualiﬁer in February would be a mix of professional and cadets. This became a big possibility as cage ofﬁcials started to entertain the idea of importing players from the pro league in their bid to bolster the Philippines’ chances of getting past in the group stage elimination patterned by FIBA before FIFA’s own approach to encourage all nations to play. If and when people in charge of assembling the best possible Gilas team are to include professional players, who in the current active players in the PBA would be tapped to reinforce the Gilas cadet team? “We are planning and obviously we have to talk to all of our partners that are involved in the basketball landscape, my good friends at the PBA, SBP, our bosses and all of the college teams too,” said former Gilas coach Tab Baldwin, who is now Gilas project director. Some of the cadets are still in college, and Baldwin said their availability would be a concern also since they are not sure of when will the college programs start next year. “We don’t know when the college programs will be by the start of January so there's a lot that has to be done but I think we've already seen Boss’ (Al Panlilio’s) comments in the media that we probably be looking at bringing PBA players back into the mix,” said Baldwin.

One thing that’s also nagging the minds of the coaching staff is whether cadet players would peak just in time for the tournament. “Lahat sila (cadets) very impressive but you have also had to two ways of thinking that. ‘Yung ready today and maybe ready tomorrow.’ Kailangan balansehin,” said Jong Uichico. “May mga ready today like Juan GDL, Dwight Ramos, and Matt Nieto.” "May mga ready rin tomorrow for example, examples lang naman to, sina Justine Baltazar, Kmark Carino, maybe Isaac Go, just because they have size, and si Calvin Oftana, may size at length. Maybe they might be ready for tomorrow," added Uichico. As for the PBA side, the league has already made good its intention to help Gilas by having its opening for the 46th season in March, right after the window which is likely to happen also in the Clark bubble, the site of the PBA Philippine Cup that’s about to come to a close —successfully. “Sinabihan kami ni Pres. (Al) Panlilio na puwedeng gumamit PBA players. Pinapayagan naman (ng PBA board), kaya inusod na namin hanggang March ‘yung opening,” said PBA commissioner Willie Marcial. Gilas’ participation was one of the topics discussed during the league board meeting last Thursday which Marcial attended. Baldwin saw the PBA decision as a welcome development as the coaching staff is now in a frantic move to assemble the best possible team to the window because they are left with a scant two months and half to do the task.

Striking new logo unveiled for FIBA World Cup ’23 MIES, Switzerland—The official logo of the FIBA Basketball World Cup 2023 was unveiled on Friday as part of the launch of FIBA's new #DontMissABeat campaign. The concept for the newly unveiled logo for the FIBA Basketball World Cup 2023 stems from three key elements: a heart, the Naismith Trophy and the year 2023. The sideways heart symbolizes the passion for the game, while the Naismith Trophy is the dream for all participating teams in the World Cup. The "23" represents the year during which the spotlight will shine across three host countries: the Philippines, Japan and Indonesia. The three host countries all have a strong passion for basketball and this love of the game is embodied in the new FIBA Basketball World Cup 2023 logo, which will bring together millions of fans, with millions of hearts beating as one. The FIBA Basketball World Cup 2023 promises to be an unforgettable event with the ﬂagship competition, slated for August 25 to September 10, 2023, to be hosted in the three cities of Manila, Okinawa and Jakarta. The Group Phase will take place in all three cities, with the Final Phase to follow in the Philippine

capital city of Manila. The three nations will share the same passion and the same dream, having three times the pride and creating three times the amount of energy and excitement throughout the 17 days of action. "We Filipinos are all proud to be a part of this important milestone in basketball, together with Japan and Indonesia", said Mr. Manuel V. Pangilinan, Chairman Emeritus, Samahang Basketbol Ng Pilipinas and FIBA Central Board Member. "The Philippines look forward to extending our brand of hospitality to the participating teams, to the world congress delegates, and to the many visitors expected to come—true to the essence of the logo we are launching today—a heart, the puso of the Filipino. Our Philippine President Rodrigo Roa Duterte expressed his support to make the FIBA Basketball World Cup 2023 an unqualified success and said, '[we want to] turn this event into a proud and dignified moment for our country.'" Japan Basketball Association President Ms. Yuko Mitsuya said: "We are very pleased to be part of the launch of the FIBA Basketball World Cup 2023 official logo. For the first time in history, the tournament will be hosted by three countries.

We will continue to work together with FIBA, the Philippines, Indonesia and the city of Okinawa to create a moment where basketball fans from all around the world will feel their hearts beat together and share the excitement of the game of basketball." Mr. Danny Kosasih, President of Indonesian Basketball Association (PERBASI) said: "The official logo launch is the first exciting step of many for all three host nations, for FIBA and basketball fans worldwide. The logo certainly represents all three host nations' spirit of uniting and working together with the same heartbeat to deliver the best basketball experiences that fans could ever have. On this special occasion, we would also like to ask basketball fans around the world to be part of this extraordinary event by taking part in the #DontMissABeat campaign. Join us and be part of this historic event." FIBA Secretary General Andreas Zagklis said: "This is a very exciting milestone. The distinctive FIBA Basketball World Cup 2023 logo symbolizes our love for the game, which is shared by the organizing committees and FIBA, and it also represents the vision and passion of the event that brings together, for the first time, three host countries."

Davis agrees to 5-year deal with LA Lakers LOS ANGELES—Anthony Davis has agreed to a ﬁve-year contract worth tens of millions of dollars with the Los Angeles Lakers just one day after they locked in superstar LeBron James with a two-year extension. Davis' contract is worth $190 million and comes on the heels of his ﬁrst season in Los Angeles where he combined with James to lead the Lakers to their 17th NBA championship, the Los Angeles Times said. On Wednesday, James' agent said the NBA star agreed to a two-year, $85 million contract extension which would keep him with the team through 2023-24. Together the dynamic duo lifted the hapless Lakers out of six consecutive seasons of turmoil and losing to form the centrepiece of the offence. "In the Orlando bubble, Anthony Davis proved he is one of the game’s most complete and dominant two-way players," Lakers general manager Rob Pelinka said. "Now, Lakers fans get to watch AD continue to grow and lead our franchise for years to come. This is truly a blessed moment for Lakers Nation." The 27-year-old Davis spent seven seasons with the New Orleans Pelicans before being traded to Los Angeles in June 2019 for three players, including Lonzo Ball, and several draft picks. AFP

Tech & Gadgets

SATURDAY, DECEMBER 5 , 2020 rumallari@thestandard.com.ph

Home Credit Card users can now buy load, pay bills with My Home Credit app OVER the past three years, Home Credit, the country's leading consumer finance company with nationwide store presence and rapidly growing mobile presence, has been working on bringing financial services closer to its customers through the My Home Credit app. With its latest Home Credit Pay eLoads and eBills feature, Home Credit Card users can now buy load and pay bills anytime, anywhere—making payments easier and more convenient than ever. For every purchase of prepaid mobile and utility load via My Home Credit app, Home Credit Card users can get a 5% discount. They can also settle their bills payments— water, electricity, internet, cable, and many more—through the app with no additional convenience fees. “We want to make payments easy and hassle-free for our customers, especially during these times when our number one priority is making our customers feel safe with our services,” said Home Credit Philippines’ Digital Payments Leader Daniel Brodan. “With eLoads and eBills, customers with credit no longer need to go out and wait in long lines just to buy load and pay bills. They can now do it anytime, anywhere— even at the comfort of their homes—as long as they have the My Home Credit app.” Here’s a step-by-step guide on how to buy load and pay bills via My Home Credit App: Buy Load via My Home Credit App 1. Tap GOODS & SERVICES; 2. Tap MOBILE OR OTHERS; 3. Select MERCHANT & LOAD VARIANT; 4. Select AMOUNT; 5. Enter MOBILE NUMBER; 6. Confirm PAYMENT DETAILS; 7. Enter mAPP PIN; 8. Load successful! Pay Bills via My Home Credit App 1. Tap PAY BILLS; 2. Select BILLER CATEGORY; 3. Select the BILLER; 4. Enter AMOUNT AND BILLING DETAILS; 5. Confirm PAYMENT DETAILS; 6. Enter mAPP PIN; 7. Bill paid! Cardholders can choose from a wide array of billers, such as Maynilad, PLDT, Globe, Smart, among others. For the complete list of Home Credit Pay billing partners, visit https://homecredit.ph/hc-paybilling-partners/. Apart from eLoads and eBills, Home Credit launched the country’s first-ever QRenabled credit card last July, as part of its digital payments efforts under Home Credit Pay. The company also created an online payment option where customers can conveniently settle their loans and credit card bills via the Home Credit website and mobile app.

Brother products now available to buy online FOR some of us, COVID-19 and the resulting quarantine protocols may make you more concerned and careful about leaving your home, even if it’s to buy the things you need. Fortunately, there’s a way to cut down on your trips outside the house with the convenience of online shopping. Brother Philippines is making it easier for customers to buy the Brother products they need through authorized online dealers on Lazada, Shopee, and Facebook Shop. Through these online platforms, customers can get the printers, sewing machines, and labelers they need anytime from the safety and comfort of their home. “No matter where you are, you can now purchase the Brother product you want anytime,” said Brother Philippines President Glenn Hocson. “This way, Brother can now truly be at your side always.” To find Brother products on Lazada and Shopee, customers simply have to search for the type of product or the specific product they want, and authorized resellers will appear in the search results. They can also access the Brother Philippines Facebook Shop at https:// bit.ly/BrotherFBShop. The best way to buy online and ensure high quality and authenticity is through authorized sellers. Customers can check if an online seller is an authorized dealer by contacting the Brother Helpdesk Support at (02) 8 581-9898 or through email at helpdesk@brother.com.ph. The hotline is open from 8:30 a.m. to 5:30 p.m., Mondays to Saturdays (except holidays). For more details and updates, customers may visit our Facebook page https://www.facebook.com/BROTHERatyourside/.

Achieve your entrepreneurial success with PLDT Home Biz program

Build a home business Smart launches the 2020 run of its BuyLocal program in partnership with Cropital to help rice farmers.

with right digital and ecommerce solutions

MID economic difﬁculties brought about by the pandemicinduced lockdowns, more Filipinos are now looking for ways to earn from home either through selling or re-selling anything from face masks to food packs and succulent plants or peddling their skills online such as graphic design or teaching a new language.

The key to making this new breed of homepreneurs successful is connecting them to digital platforms so that they can reach their target customers and provide safe ways to transact business online. PLDT Home Biz, PLDT Home’s newest program for micro entrepreneurs operating at home, provides more than the fastest and reliable internet connection by equipping subscribers with the right partner e-commerce tools that are vital in operating business in the new normal. “We have packaged our PLDT Home Biz KaAsenso plans with partner e-commerce solutions that provide a complete digital ecosystem for our subscribers from creating your very own on-line store, accepting secure online payments, expanding your reach with high traffic marketplaces and lastly providing delivery in the comfort of your home,” said Patrick Tang, PLDT

Vice President and Head of PLDT Home Biz.

Total E-commerce Ecosystem

For a secure and hassle-free cashless payment system, PLDT Home Biz subscribers can accept digital payments through QR, bank transfer, and e-wallets, as well as credit and debit cards in partnership with digital financial services leader PayMaya, which is changing the game from high-risk cash-on-delivery to safer and more convenient contactless options for consumers. “With many Filipino entrepreneurs launching their business from their homes and going online, PayMaya helps them get paid with a wide array of cashless payment options--whether it's via e-Wallets or through credit/debit cards. We are there to take care of their payment needs so that they can focus on growing their business and running it smoothly and efficiently," noted Ray-

mund Villanueva, PayMaya Head of Business for QR Ecosystems. PLDT Home Biz has also partnered with UnionBankGlobalLinker, allowing MSMEs to create their own online storefronts for their business, and be connected to over 300,000 micro, small and medium enterprises (MSME) through GlobalLinker’s network. “With our diverse network and leading edge platform, we’ll be able to connect our MSMEs with potential suppliers and customers, provide them opportunities to learn from other entrepreneurs through the various webinars, provide them with business solutions to help their businesses growth further, and more,” said Jaypee Soliman, UnionBankGlobalLinker Vice President for SME Segment. PLDT Home Biz subscribers are also linked to the popular Sulit.ph online marketplace, enabling them to reach out to even more customers. “The community lockdowns have drastically changed the buying behavior of consumers. Everybody is now buying and selling online, from the techsavvy millennials to elders who are using the internet for the first time,” Sulit.ph CEO Jay Adevoso pointed out. "We also aim to enable safe and reliable

on-demand delivery—and avoid physical meet-ups between sellers and their customers; through GrabExpress. PLDT Home Biz subscribers will also be part of the GrabExpressMadiskarteng Boss Club where they get exclusive Grab perks and discounts that they can use to grow their businesses online," said Jacq Lim, Head of GrabExpress Philippines.

Virtual trade expos and events

Through its partnership with the Department of Trade and Industry (DTI), PLDT Home Biz KaAsenso subscribers can have access to the government agency’s virtual trade shows and caravans that can open up more opportunities and wider networks for aspiring MSMEs. Some of the exciting expos that MSMEs should watch out for are the BUYanihan Resellers’ Expo 2020 Rise up and resell! Happening on December 5 to 7, 2020 from 10am onwards, the PLDT Smart Sustainability Fair that runs from November 23 to December 31, 2020, and the DTI Regional Operations Group and One Town, One OTOP Virtual Trade Expo Series of bazaars until 2021 powered by PLDT Home Biz. Joining these Virtual Trade Expos is FREE, MSMEs just need to register and log in to virtualtradeexpoph.com.

Best Logitech G gear for your Christmas list GIFT the gamers in your life with awesome new gadgets and gear for the holidays, or upgrade your own rig with these fantastic products. The holidays are fast approaching, and Logitech has some fantastic gift ideas to add to your Christmas list. Now is the best time to upgrade a gaming rig, and whether you are choosing a gift to give a gamer friend or selecting new gear to use yourself, we have some great product options for you to consider. Read through to check out our roundup of Logitech G gear that make the best holiday gifts for gamers.

Gift-giving on a budget

Here are three options that make great stocking stuffers, without breaking the bank.

G102 Lightsync Mouse (SRP P1,190) The perfect mouse for newbie gamers and ﬁrst time buyers Simple and approachable with a high precision sensor. G213 Keyboard (SRP P3,399) This keyboard brings together the best in tactile feel and performance, with brilliant color spectrum illumination. G331 STEREO Headset (SRP P2,599) Hear more as you play more with this headset, compatible with multiple devices, from PC to console to mobile.

Mid-range gifts

You get your money’s worth for sure when you give these mid-range gaming accessories as gifts this Christmas. G502 HERO Mouse (SRP P4,350) Enjoy the world’s best gaming mouse, now equipped with the

Real estate groups unite to amend RESA THE movement to push for amendments of the Real Estate Service Act of 2009 (RESA) has gained strong support as some of the country’s largest real estate organizations join the call of A Better Real Estate Philippines (ABREP) for changes in the law which hopes to address the growing 6.5 million housing backlog. Experts say the backlog is expected to bal-

loon to 22 million by 2040 and leave millions of Filipino families without formal housing if left unaddressed. ABREP, a movement that seeks to increase livelihood opportunities for Filipinos, promote the use of technology in real estate, and bolster the salesforce so that the backlog can be addressed, is currently engaging industry stakeholders, including practitioners,

Proponents of the ABREP unity press conference are shown here

G213 Keyboard

world’s best sensor. G512 Mechanical Keyboard (SRP P7,299) This keyboard has all the features you want in one simple and sleek package for streamlined gaming.

G Pro X Headset (SRP P6,999) Loaded with advanced features like Blue Vo!ce mic technology and DTS Headphone:X 2.0 surround sound, this headset lets you hear like a pro, and sound like a pro.

developers, and even the regulatory bodies. In a virtual press conference, ABREP President Anthony Leuterio said, “RESA is a pre-automation law that does not serve the purpose it was intended to. It was supposed to professionalize the industry, but instead, it’s stopping the industry from progressing.” Leuterio noted that each of the large real estate organizations, such as the Chamber of Real Estate Builders Associations (CREBA), the National Real Estate Association (NREA), the Real Estate Brokers Association of the Philippines (REBAP), the Organization of Socialized and Economic Housing Developers of the Philippines (OSHDP), the Subdivision and Housing Developers Association (SHDA), have their own speciﬁc positions on proposed amendments to RESA, and have united in the push for legislative change. “RESA is not a perfect law; that is why it is subject to change. We, as an association, should remain receptive to changes in regulations,” said REBAP National Board Edwin Calamba. “Our group is supporting ABREP in amending the RESA not just for a select few but for the betterment of the whole industry.” Moreover, Leuterio revealed that ABREP has already reached out to the Professional Regulation Commission (PRC) regarding their proposed amendments and that they are awaiting further feedback. “We are not alone in our call to amend RESA. Real estate practitioners and developers have all united to make this a better law for Filipinos. At ABREP, we believe that with their guidance, the next

version of RESA will do much more to serve the Filipino,” he said. ABREP’s position that RESA is antipoor has been a rallying call to amend RESA as early as 2016. CREBA, the largest organization of developers in the Philippines, has decried RESA’s Section 14 for what it calls “discriminatory scholastic requirements,” referring to both the expensive and onerous Bachelor of Science in Real Estate Management (BSREM) degree requirement for brokers as well as the 2-year college requirement for salespersons. “We will be depriving these individuals the chance to partake in the economic beneﬁts of real estate,” said CREBA National President Noel Cariño in a 2017 statement. “Many of them have been there working for so long, and then they will be suddenly cut-off because they cannot qualify for registration.” For years, several controversial provisions in RESA have been at the center of public outcry. One such provision that has recently been highlighted by the law’s critics is Section 32’s rule on the 1-is-to-20 ratio for real estate brokers to salespersons. “We cannot sell so many real estate units if we do not have enough agents, which is restricted by this 1-is-to-20 rule. The law provides that only those who are graduates of BSREM can apply to become a licensed broker---and less than 100 people graduate from this course, a big number of which are not passing the board exam,” said NREA’s immediate past president Benny Cabrieto Jr. in last week’s press conference.

rumallari@thestandard.com.ph

SATURDAY, DECEMBER 5, 2020

TECH & Gadgets

Shopee ranks 7 on YouGov’s Best Brands 2020 PH list th

HOPEE, the leading e-commerce platform in Southeast Asia and Taiwan, ranks 7th on market research ﬁrm YouGov’s Best Brands 2020 List in the Philippines. YouGov measures the public’s perception of the brands and ranks them based on the following criteria: overall quality, value, impression, reputation, and customer satisfaction. Ervin Ha, Head of Plan & Track at YouGov Asia Pacific, said, “Shopee joins a prestigious list of 10 companies in YouGov’s Best Brands 2020 rankings. These rankings aim to recognize and celebrate the brands that are best-loved by the Filipino public. Our unrivaled panel and always-on data mean we can provide the most accurate and complete picture of the Philippine public’s response to the organizations operating in the region. Shopee is seen by consumers as a brand that, among other things, represents value, quality, and strong levels of consumer satisfaction.” Shopee is the only e-commerce platform amongst personal care brands on the list. Shopee also tops YouGov’s Best Brands 2020 List of Improvers, going up from 32.0 points in 2019 to 39.9 points in 2020. Martin Yu, Associate Director at Shopee Philippines, said, “Shopee is proud to be featured on YouGov’s Best Brands 2020 List. This past year, Filipino consumers have pivoted to e-commerce platforms, and Shopee has implemented new services to make sure we stay ahead of our customers’ demands. This ranking speaks volumes of how Shopee has become an indispensable part of Filipinos’ daily lives. We will continue to pursue excellence in meeting the needs of

Improved rankings demonstrate growing consumer trust in Shopee and interest in online shopping

our users and sellers alike.” To further increase customer satisfaction, Shopee has invested in improving its platform and focused on ensuring that shoppers can find their favorite products and brands. Shopee also created services such as ShopeePay, to provide customers with secure contactless payments, and ShopeeXpress, an integrated lo-

gistics service to enable deliveries in the fastest time possible. For more information about Shopee’s YouGov ranking, visit https://ph.yougov.com/en-ph/news/2020/11/15/ yougov-philippines-best-brand-2020-rankings/. Download the Shopee app for free via the App Store or Google Play.

Win a Ford EcoSport, P10k worth of items with vivo Christmas promo VIVO, the leading global technology company, will play Santa this Christmas by giving away a brand new Ford Ecosport and other premium prizes through its #vivoSealedWithAWish campaign. #vivoSealedWithAWish is a digitalized Santa mailbox wherein vivo customers can come up with and submit a Christmas wish list containing three items worth P10,000 each, and get a chance to win one of those items—provided that the items on the list are physical, non-perishable, available in major malls in the Philippines, and are worth no more than P10,000— plus other premium prizes like a pair of Bluetooth earphones worth P2499, an air purifier worth P7,999, and a brand new Ford EcoSport. The #vivoSealedWithAWish campaign is an ongoing promo that started last November 16 and will run until January 11, 2021. Eligible participants are vivo customers who purchased and will purchase a brand new vivo smartphone during the said period. 45 participants will get the chance to win one of the items on their wish list, while 450 and 900 others will get the chance to win Bluetooth earphones and a premium air purifier respectively. Meanwhile, there will only be one winner of the Ford EcoSport. Interested vivo customers need only head to https://www.vivoglobal.ph/ christmas-promo-campaign/, fill out and submit the form, wait for the confirmation email from vivo, and watch out for the results of the weekly draw dates happening on November 23 and 30; December 7, 14, 21, and 28; and January 4 and 11. All winners from each draw date will be announced via the official vivo Facebook page. Eligible vivo smartphones include the vivo NEX 3, those under the Y-series (Y20i, Y20i 2021, Y30, Y19, Y11, Y12, Y15, Y17, Y91, Y91c, Y91i, Y95, Y85, Y81, Y81i, Y71, Y53, and the Y53c), the S-Series (S1 and S1 Pro), the V-series (V20, V20 Pro, V20 SE, V19 Neo, V17 Pro, V15 Pro, V15, V11, V11i, V9, V7+, V7, V5s, V5lite, V5 Plus, and V5), and the X50 series (X50 and X50 Pro). To learn more, visit vivoglobal.ph.

Infinix Hot 10 coming soon to PH INFINIX, the premium smartphone brand known for its innovative state-of-the-art devices, recently announced an upgraded version of the Infinix Hot 10, one of its best-selling phone series. Available in Obsidian Black, Ocean Wave, and Moonlight Jade, the Infinix Hot 10 is available for a special price of P5,490 on its official Shopee site only on December 7, 2020. Afterward, the Infinix Hot 10 will be sold at Php 6,990. The successor to the popular Hot 9 & Hot 9 play, the Infinix Hot 10 is driven by a MediaTek Helio G70 chipset paired with 4GB of RAM and 128GB of ROM, with external memory expandable up to 512GB. Powered by a 5200 mAh battery, with a 38-day standby battery life and 36 hours talktime, the powerhouse device is fitted with a 6.78” HD + plus Infinity O display that delivers 720 x 1640 pixels and runs on Android 10. On the camera front, the Infinix Hot 10 comes with a quad-camera setup at the back, rated at 16MP (primary camera), 2MP (depth sensor), 2MP (macro lens), and AI LENS with quad rear flash, while the 8MP in-display front camera has dual flash.

With a premium build, a bigger screen, a smooth and faster experience, great gameplaying, the Infinix Hot 10 is a speed monster with a complete package that hits all the right spots for a power user with its advanced features. Infinix Hot 10 Specs: Screen 6.78HD+ Punch Hole; Platform Mediatek Helio G70; Memory 128+4; F Camera 8M; R Camera 16M Quad Camera with night shoot mode; Fingerprint Yes; Battery 5200 mAh with PowerMarathon Launched in 2013 and targeting the young generations, Infinix Mobile is a premium online-driven smartphone brand. With “THE FUTURE IS NOW” as the brand essence, Infinix aims to allow consumers to stand out in the crowd and to show the world who they really are. Infinix is committed to providing the most cutting-edge technologies, bold and stylish designs, keeping consumers on trend and up-to-date. Infinix’s portfolio spans five product lines – —ZERO, NOTE, HOT, S, and SMART; empowering users to own innovative technologies and experience intelligent lifestyles! Infinix

Available for a special price of P5,490 on December 7

has a presence in more than 30 countries around the world, covering Africa, Latin America, the Middle East, Southeast Asia, and South Asia. For more information, please visit: http:// www.infinixmobility.com/

Enjoy your K-drama viewing with a Samsung TV CAN’T get enough of K-drama but hate the struggle of watching on your mobile? With Samsung’s latest partnership with Viu, never miss any detail and swoon over your favorite oppas on a bigger screen. Starting December 1, 2020, every purchase of select Samsung Smart TVs comes with a free 1-year premium subscription to Viu, the country’s top provider of K-drama shows. This is every K-drama fan’s chance to get a bigger and budgetfriendly Smart TV, with the bonus of falli ng f u r ther dow n the K- d rama rabbit hole on Viu without distracting ads. Binge-watching K-drama is much better on a Samsung TV for many reasons. For one, there will be no need to rewind or pause every scene because you missed the subtitles when you have a bigger screen. No more squinting your eyes either. And with a bigger screen, you can bask in the glory of your beloved oppa and unni’s poreless skin and appreciate all the details in each scene of your favorite Kdrama. Samsung’s Smart TVs offer stunningly clear picture quality paired with a full and solid sound quality—a viewing experience that can transport you to the scene itself. Just imagine the intensity of emotions when you watch the latest K-drama titles on Viu this December, such as the highlyanticipated Tale of the Nine Tailed. You can also enjoy shows that are exclusively available on Viu, such as the much-awaited True Beauty featuring Cha Eun-woo. A Samsung Smart TV may just be the perfect Christmas gift you can give yourself for your K-drama cravings. Enjoy the latest string of K-dramas on Viu with a premium and featurerich TV without breaking the bank this December. For more information about Samsung’s latest promo, visit www.samsung.com/ph today.

Sun Life presents art exhibit in virtual launch

SUN Life Philippines, in cooperation with Salcedo Auctions, recently raised funds for the benefit of the recent typhoon victims with a special preview of Betsy WestendorpBrias’ limited edition Giclée on canvas collection for select clients. During the virtual preview, guests were able to purchase the featured works of Betsy at a special rate and had the chance to interact with the artist herself to ask questions about her masterpieces. “Art has the power to bring people together, and Betsy's inspiring works give us the opportunity to unite and bring hope to those who have been affected by the onslaught of the recent typhoons,” said Benedict Sison, Sun Life CEO and Country head. “This is but one way for Sun Life to express its unwavering commitment to the Filipinos amid these difficult times.” For his part, Salcedo Auctions Managing Director Victor Silvino expressed his appreciation to Sun Life for this alliance. "We are greatly honored by the chance to collaborate with Sun Life and an esteemed artist like Betsy Westendorp-Brias. Through this exhibit, Sun Life clients who are art enthusiasts will have the opportunity to delve deeper into the messages that Betsy conveys

through her masterpieces," Silvino said. Born Isabelle Maria Westendorp, Betsy started painting at a very young age by creating portraits of her family. This passion paved the way for her fame as she connected with influential personalities. At the age of 21, she moved to the Philippines after marrying her husband Antonio 'Tony' Brias. In one of her trips to Spain, she was invited by then Philippine Ambassador to Spain to represent the Philippines during the Filipino Week of the Instituto de Cultura Hispanica in Madrid, where she wowed the crowd. One milestone of her career as an artist is when Don Juan Carlos, then King of Spain, commissioned her to paint his son, Don Felipe. Betsy's art career continues to flourish as she holds several art galleries here and around the world. Notably, she is one of those few artists in the country to receive cultural distinctions from two nations. “Betsy Westendorp’s Limited Edition Giclee on Canvas Collection” ran 24/7 starting on November 23 and is still ongoing for select Sun Life clients. This event is presented by Sun Life Philippines together with Salcedo Auctions. For more updates, visit www.sunlife.com.ph or www.facebook.com/sunlifeph.