P25

IN METRO
MANILA,
PHILIPPINES

STOCK MARKET AS I A N M A R K E TS WO R L D M A R K E TS P E SO - D O L LA R R AT E S ASIAN M O N I ES -US $ RATE WORLD CURRENCIES D UBAI CRUD E OIL
JANUARY 13, 2022 JANUARY 12, 2022 JANUARY 13, 2022 JANUARY 13, 2022 FUTURES PRICE ON NEAREST

PSEi CLOSE NET % CLOSE NET FX LATEST BID (0900GMT) PREVIOUS CLOSE PREVIOUS
MONTH OF DELIVERY
$82.21/bbl
Japan (Nikkei 225) 28,489.13 ▼ -276.53 -0.96 Dow Jones 36,290.320 ▲ 38.300 OPEN P51.080 Japan (yen) 114.550 ▲ 115.310
▲
OPEN: 7,217.38 Hong Kong (Hang Seng) 24,429.77 ▲ 27.60 0.11 Hong Kong (HK dollar) 7.790 ▲ 7.796 US$/UK pound 1.3738 1.3626
NASDAQ 15,188.392 ▲ 34.943 HIGH P50.990 US$/Euro 1.1466 ▲ 1.1366
HIGH: 7,317.09 Taiwan (Weighted) 18,436.93 ▲ 61.53 0.33 Taiwan (NT dollar) 27.595 ▲ 27.667
S&P 500 4,726.350 ▲ 13.280 LOW P51.225 Thailand (baht) 33.210 ▲ 33.370 $/Aust dollar 0.7305 ▲ 0.7208
LOW: 7,217.38 Thailand (SET Index) 1,680.02 ▲ 1.52 0.09
S.Korea (Kse Composite) 2,962.09 ▼ -10.39 -0.35 FTSE 100 7,551.720 ▲ 60.350 CLOSE P51.040 S. Korea (won) 1,184.600 ▲ 1,190.710 Canada dollar/US$ 1.2484 ▼ 1.2551
CLOSE: 7,307.75 Singapore (Straits Times) 3,257.30 ▲ 2.32 0.07 Euro Stoxx50 3,828.830 ▲ 27.160 W.AVE. P51.115 Singapore (dollar) 1.345 ▲ 1.351
92.62 pts. Swiss Franc/US$ 0.9128 ▼ 0.9233
1.28% VOL.: 1.503 B Sydney (All Ordinaries) 7,474.40 ▲ 35.50 0.48 15.00 ctvs VOL. $917.25 M Indonesia (rupiah) 14,290 ▲ 14,315 $2.31
30 DAYS TO JANUARY 13, 2022 VAL(P): 7.197 B Malaysia (Klse Composite) 1,569.51 ▲ 6.31 0.40 30 DAYS TO JANUARY 13, 2022 SOURCE : BAP Malaysia (ringgit) 4.174 ▲ 4.184
30 DAYS TO JANUARY 12, 2022

VOL. XXXV • ISSUE 124 F RIDAY

T • JANUARY
HURS DAY 14, 2022
• NOVEMBER • www.bwo
19, 2020 r ld o n lin
• www.bwo r lde.co
o n linme.co m S1/1-12 • 2 SECTIONS, 20 PAGES

P H IL IP P IN E STOCK EXCHAN G E ’S 1 0 M OST ACT I VE STOCKS BY VALU E T U R N OVE R • JAN UA RY 13, 2 02 2 ( PS Ei s nap s hot on S1/2 ; article on S 2 /2)
MONDE P16.580 MBT P59.200 TEL P 1,904.000 BPI P96.200 BDO P129.700 ACEN P9.520 SPNEC P1.420 SM P950.000 ALI P35.800 JFC P 230.600
Value P444,535,698 Value P380,353,009 Value P376,216,130 Value P356,129,967 Value P332,141,230 Value P322,128,002 Value P284,620,670 Value P264,069,810 Value P258,688,835 Value P251,573,714
P0.680 ▲ 4.277% P1.500 ▲ 2.600% P39.000 ▲ 2.091% P1.250 ▲ 1.316% P2.900 ▲ 2.287% P0.520 ▲ 5.778% P0.000 — 0.000% P0.000 — 0.000% P0.200 ▲ 0.562% P7.400 ▲ 3.315%

Despite Omicron threat

2022 growth goals within reach — BSP

THE ECONOMY is still well- Pilipinas (BSP) Governor Benja- mild and less lethal,” Mr. Diokno or March. So that gives us confi- cron-driven surge. Active cases to curb the infection spread. Metro
placed to grow within target this min E. Diokno. said at the 2022 virtual inaugural dence that we will hit our growth rose by a record 34,021 to 237,387 Manila and provinces seeing the
year as the Omicron variant is “Our position is that, despite the meeting of the Management As- target of 7-9% this year, and 6-7% on Thursday, based on data from surge were placed under Alert Level
expected to be a risk to the eco- recent variant of the virus, we will sociation of the Philippines. for the next two years,” he added. the Department of Health. 3 until Jan. 15. This means business-
nomic outlook in the short term, hit our projected growth of 7-9%. “We hope that the variant will Like other countries, the Phil- After the holidays, the govern- es had to reduce their operations.
according to Bangko Sentral ng So the variant, as it turned out, is be gone by the middle of February ippines is experiencing an Omi- ment imposed tighter restrictions Goals, S1/3

PHILIPPINES INCHES UP IN The Human Freedom Index, which is co-published by the Cato Institute and the Fraser Institute, presents a broad measure of human
freedom, defined and understood as the “absence of coercive constraint.” On a scale of 0 to 10, where 10 represents more freedom,

HUMAN FREEDOM RANKING

the Philippines has a score of 6.83 in 2019, moving up a spot, ranking 101st out of 165 economies.
The country, however, dips in economic freedom (58th), and personal freedom (115th). Among
its neighboring economies in the East and South Asia,** the Philippines is in the middle.
(BUT FURTHER SLIPS IN PERSONAL FREEDOM) NOTES:
2019 2019 While 2019 is the most recent year for which sufficient data are available, the report was

10
East and South Asia** Philippines Score (/10) Rank (/165) published on Dec. 16, 2021.
*The index uses 82 distinct indicators of personal and economic freedom in the following
Human Freedom 6.83 101 areas:
Personal Freedom* 6.42 115 Areas under personal freedom: rule of law; security and safety; movement; religion;
association, assembly, and civil society; expression and information; relationships.
8.73 8.68 Economic Freedom* 7.42 58 Areas under economic freedom: size of government; legal system and property rights; sound
8.41 8.39 money; freedom to trade internationally; regulation.
8 8.00 7.98 **Southeast Asian countries such as the Philippines are lumped into the South Asia region
along with India, Pakistan, and others.
7.22 7.17 7.12 7.10
2019 Human Freedom Score (/10)

6.89 6.86 6.83 6.58 6.47 6.46 6.39

6 5.90 5.85 5.78 5.75 5.63 5.57

0
JAPAN TAIWAN HONG KONG (China) SOUTH KOREA MONGOLIA SINGAPORE TIMOR-LESTE MALAYSIA NEPAL INDONESIA THAILAND BHUTAN PHILIPPINES SRI LANKA CAMBODIA BRUNEI INDIA VIETNAM LAOS MYANMAR BANGLADESH PAKISTAN CHINA

2019 Rank (/165) =15 =19 30 31 47 48 =78 =82 84 85 96 =98 101 112 115 =116 119 =134 136 141 142 =145 =150
Change in 10 1 1 3 18 5 3 1 6 3 5
Ranking from 2018 1 1 1 4 16 7 1 3 4

Philippines Historical Scores and Ranking Top Five Bottom Five

7.26 7.33 2019 Change in Ranking 2019 Human 2019 Change in Ranking 2019 Human
7.23 7.21 2019 Human Freedom Score (/10)
7.32 7.09 Rank (/165) from 2018 Economy Freedom Score (/10) Rank (/165) from 2018 Economy Freedom Score (/10)
7.19 7.12 1 Switzerland 9.11 165 3 Syria 3.66
7.04 6.83
2 New Zealand 9.01 164 5 Venezuela 4.03
6.87 6.83 3 Denmark 8.98 163 3 Yemen 4.08
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 4 1 Estonia 8.91 162 1 Sudan 4.48
Rank 78 84 79 78 76 84 79 82 83 99 102 101 5 1 Ireland 8.90 161 3 Egypt 4.49
SOURCE: CATO INSTITUTE AND FRASER INSTITUTE (THE HUMAN FREEDOM INDEX 2021: A GLOBAL MEASUREMENT OF PERSONAL, CIVIL, AND ECONOMIC FREEDOM) BUSINESSWORLD RESEARCH: BERNADETTE THERESE M. GADON BUSINESSWORLD GRAPHICS: BONG R. FORTIN

Truckers say Roxas Blvd closure DBM asks agencies GIR as of end-2021 falls
will mean higher costs, more delays to avoid duplication below BSP projection
The damaged box culvert, which was built
of LGU services THE COUNTRY’S dollar reserves It is also equivalent to about
By Arjay L. Balinbin Senior Reporter in the 1970s, is directly in front of HK Sun inched up as of end-December 8.8 times the country’s short-
Plaza in Pasay City heading to the EDSA- THE DEPARTMENT of Budget and Management buoyed by higher valuation of gold term external debt based on origi-
Roxas Boulevard flyover. (DBM) is asking National Government agencies buffers, but fell short of the cen- nal maturity and 5.9 times based
TRUCK OPERATORS are expected to incur Mr. Macud said the northbound portion to avoid duplicating services that have been tral bank’s year-end projection. on residual maturity.
additional expenses as they would need to of the road will also be closed for another two devolved to local government units (LGUs) in its Preliminary data from the The seasonal increase in re-
take a longer route during the closure of the months after repairs on the southbound por- national budget call for 2023. Bangko Sentral ng Pilipinas (BSP) mittances sent by overseas Fili-
southbound portion of Roxas Boulevard. tion is completed by March 15. DBM in a national budget memorandum showed the gross international pinos during the holiday season
The Roxas Boulevard southbound lane will be “The number one effect is additional ex- dated Jan. 12 noted the increase in resources reserves (GIR) stood at $108.891 drove the GIR to its highest level
closed to motorists for “two months” beginning pense on the part of the truckers because we made available to LGUs. billion as of end-December. This is in 12 months or since December
Saturday (Jan. 15) to give way for the repair of will have to take longer routes, use much more “National Government agencies should 1.08% up from the $107.723 billion as 2020, Rizal Commercial Banking
the damaged box culvert, South Manila district fuel and pay bigger toll fees. Plus, the fact that refrain from duplicating the direct delivery of of end-November but was lower by Corp. Chief Economist Michael L.
engineer Mikunug D. Macud of the Department if everyone uses those routes, there will be devolved functions and services with the LGUs, 1.11% from the record $110.117-bil- Ricafort said in a Viber message.
of Public Works and Highways (DPWH) told more traffic,” Confederation of Truckers As- Duplication, S1/8 lion level seen as of end-2020. The end-December GIR level
BusinessWorld in a phone interview. Roxas Blvd, S1/3 The GIR also fell below the also reflects the 3% increase in
$111-billion end-2021 projection world gold prices during the
given by the BSP. month, he added.

Fitch Solutions hikes PHL budget deficit forecast “The month-on-month in-
crease in the GIR level reflected
mainly the National Government’s
“Despite stark depreciation
pressure on the local currency
throughout the year, the central
THE PHILIPPINES’ budget deficit would “Rebounding revenues on the back of the fiscal consolidation plans given the sharp rise net foreign currency deposits with bank has managed to maintain a
likely stay far above the pre-pandemic av- economic recovery will offset still expansion in public debt levels during the pandemic,” the BSP and upward adjustment in very decent stash of ammunition
erage in 2022 even as the gap narrows on fiscal spending, with the government seeking Fitch said. the value of the BSP’s gold holdings to stave off any speculative attack
a rebound in revenues, adding fiscal pres- to accelerate the economic recovery in 2022,” As revenues slipped during the pandemic, due to the increase in the price of on the currency,” ING Bank N.V.
sures to the next administration, Fitch the think tank said. the country’s deficit expanded to 7.5% of GDP gold in the international market,” Manila Senior Economist Nicholas
Solutions Country and Industry Research Fitch Solutions raised the budget deficit fore- in 2020 from 3.4% a year earlier. the BSP said in a statement Antonio T. Mapa said in an e-mail.
said. cast from the previous 7.8% of GDP for 2021 and In the 11 months to November, the budget At its end-December level, The peso closed at P50.999 a
Fitch Solutions in a report on Wednesday 6.9% for 2022, noting the country still faces risks deficit reached P1.33 trillion, up by 24.63% the GIR is enough to cover 10.3 dollar on Dec. 31, 2021, weaker by
said the 2022 deficit would likely narrow to from the pandemic’s threat to revenues. compared with the P1.07 trillion in the same months’ worth of imports of 6.2% from its P48.023 finish on
7.9% of gross domestic product (GDP) from an “We believe the Philippine government period last year. goods and payments of services Dec. 29, 2020.
estimated 8.3% last year. could come under some pressure to speed up Fitch, S1/3 and primary income. GIR, S1/8

OPINION THE NATION BANKING & FINANCE FOLLOW US ON:

T’S
WHAIDE Beyond Nomura’s uncertainty: The biggest Philippines posts record BSP limits basic deposit accounts facebook.com/bworldph
IN S irony of a Marcos Jr. presidency S1/6 coronavirus infections S1/12 to one per client S2/1 twitter.com/bworldph
anchor.fm/businessworld
2/S1 Corporate News FRIDAY, JANUARY 14, 2022 EDITOR VICTOR V. SAULON

Philippine Stock Exchange index (PSEi)

THURSDAY, JANUARY 13, 2022
7,307.75 92.62 PTS. 1.28%
PSEi MEMBER STOCKS
AC ACEN AEV AGI ALI AP BDO BLOOM BPI CNVRG
Ayala Corp. AC Energy Corp. Aboitiz Equity Alliance Global Ayala Land, Inc. Aboitiz Power Corp. BDO Unibank, Inc. Bloomberry Resorts Bank of the Converge ICT
Ventures, Inc. Group, Inc. Corp. Philippine Islands Solutions, Inc.
P870.00 P9.52 P60.00 P12.02 P35.80 P31.00 P129.70 P6.40 P96.20 P31.40
+P10.00 +1.16% +P0.52 +5.78% +P0.50 +0.84% +P0.08 +0.67% +P0.20 +0.56% -P0.10 -0.32% +P2.90 +2.29% -P0.10 -1.54% +P1.25 +1.32% +P0.35 +1.13%

GLO GTCAP ICT JFC JGS LTG MBT MEG MER MPI
Globe Telecom, Inc. GT Capital Holdings, International Container Jollibee Foods Corp. JG Summit Holdings, Inc. LT Group, Inc. Metropolitan Bank Megaworld Corp. Manila Electric Co. Metro Pacific
Inc. Terminal Services, Inc. & Trust Co. Investments Corp.
P3,330.00 P562.50 P203.00 P230.60 P60.00 P9.89 P59.20 P3.25 P307.00 P3.99
-P66.00 -1.94% +P10.50 +1.90% +P7.30 +3.73% +P7.40 +3.32% +P1.80 +3.09% —— +P1.50 +2.60% +P0.11 +3.50% —— +P0.09 +2.31%

PGOLD RLC RRHI SECB SM SMC SMPH TEL URC WLCON

Puregold Price Robinsons Land Corp. Robinsons Retail Security Bank Corp. SM Investments Corp. San Miguel Corp. SM Prime Holdings, Inc. PLDT, Inc. Universal Robina Corp. Wilcon Depot, Inc.
Club, Inc. Holdings, Inc.
P37.15 P19.18 P58.50 P113.50 P950.00 P110.80 P34.90 P1,904.00 P129.90 P28.30
+P0.65 +1.78% +P0.48 +2.57% +P1.60 +2.81% +P1.50 +1.34% —— -P0.20 -0.18% +P0.05 +0.14% +P39.00 +2.09% +P2.70 +2.12% -P0.15 -0.53%

AirAsia: 7 out of 10 Filipinos still keen on traveling

SEVEN out of 10 Filipinos are
still keen on pushing through
with their planned air travel in
the next nine months despite the
rising coronavirus cases, a sur-
vey commissioned by low-cost
carrier Philippines AirAsia, Inc.
showed.
This is “an encouraging indi-
cator for the aviation industry
this year,” the airline said in an
e-mailed statement on Thursday.
Tangere, a big-data analytics
firm, conducted the survey for
Philippines AirAsia in Decem-
ber last year. Tangere has 1,605
users between the ages of 18 and
60 from socioeconomic classes
A, B, C, D, and E, according to
Philippines AirAsia.
Despite the heightened cau-
tion, 60% of the respondents ex-
pressed a desire to travel domesti-
cally, with Palawan (77%), Boracay
(69%), Cebu (58%), Siargao (57%),
and Bohol (52%) topping the list
of preferred destinations.
“Davao also ranked high
among Visayan travelers, getting
the thumbs up of 52% of pollees
from the region,” the airline said.
“Should international border
restrictions relax this 2022, five
out of 10 Filipinos are also ready
to travel abroad, picking Seoul,
South Korea (78%); Singapore
(73%); and Osaka, Japan (71%) as
their must-visits,” it added.
In its analysis published on Oct.
19 last year, the Center for Asia
Pacific Aviation said, citing Inter-
national Air Transport Associa-
tion projections for next year, that
“‘Within-Asia’ traffic… is forecast
to be still nearly 90% below 2019
levels for the full year 2022.”
“Before the coronavirus pan-
demic, the Asia-Pacific region ac-
counted for about a third of global
RPKs (revenue passenger kilo-
meters). But in 2022, the region
will now remain approximately
three-quarters below Europe and
North America,” it added.
Philippines AirAsia Chief Ex-
ecutive Officer Ricardo P. Isla said
the airline is seeing that Filipinos
are now much more confident
to travel because the country is
gaining “a better understanding
of the pandemic” and developing
“a more fitting culture of safety
and vigilance.”
“At AirAsia, we are observing
an uptrend in long-term bookings
which signifies a more positive
outlook on travel plans this year.
But we are not letting our guards
down. We will be consistent in pri-
oritizing the safety and well-being
of our guests as they fly to their
intended destinations,” he added.
The survey also showed that
Filipinos will be traveling in
smaller groups this year.
The airline said 69% prefer
to travel with families, 40% with
partners, and 24% with close
friends over work colleagues, solo
trips, and group tours.
“This reflects the yearning of
some Filipinos to reconnect with
their loved ones from whom they
were isolated in the past couple of
years,” it noted.
Moreover, only 13% of the
survey respondents are willing
to spend between P30,001 and
P40,000 on their travel, while 15%
and 38%, respectively, limit their
budget to P15,000 to P20,000 and
less than P14,999.
“Frugality has been expected
by air carriers given the economic
impact of [the pandemic] and the
long list of essentials…, as well as
the need to grow personal emer-
gency funds,” the airline said.
“In line with this, Filipinos
keep an eye out for bang-for-buck
offers that can help them in their
trips like complete tour package
deals of Flights + Hotel + Tours
and Activities (66%), discounted
Flight + Hotel bundles (61%),
and discounted Food + Activities
bundles (59%),” it added. — Arjay
L. Balinbin

Cebu Landmasters posts P16.5-B record reservation sales Converge’s Uy in

CEBU Landmasters, Inc. (CLI) record-
ed a 16% increase in reservation sales
to P16.5 billion last year, the real estate
developer said on Thursday, describing
the figure as “record-breaking” coming
from P14.25 billion a year earlier.
“The company has rapidly expanded
since its listing in June 2017 and has now
more than doubled its P7.7 billion sales
take up during that year,” said CLI Chair-
man Jose R. Soberano III in a press release.
The listed property firm, which is
focused on Visayas and Mindanao, said
it launched 3,865 units in 10 projects
worth P18 billion in 2021, more than the
eight projects launched in 2020 worth
P11.5 billion.
It said by the end of last year, 96% of
completed project were sold out, 86%
of developments still under construc-
tion were taken up, and 70% of newly
launched projects were sold out.
Altogether, the company’s portfolio
was 85% sold out across different proj-
ect stages, CLI said.
The company’s new offerings include
Costa Mira Beachtown Mactan, its
beachfront condominium communities
with 659 units valued at P3 billion. The
project accounted for 17% of overall sales.
Economic housing brand Casa Mira
accounted for 41% of sales, followed by
high-end Premier Masters at 31%, and
mid-market Garden Series at 27%.
“CLI launched more economic hous-
ing projects as affordable quality hous-
ing was in demand throughout the pan-
demic,” said Mr. Soberano. “We started
to unveil higher-end projects when the
economy began to open and recover.”
Almost half of total sales come from
Cebu, accounting for 48%, followed by
Iloilo at 17%, and Cagayan de Oro at
13%, CLI reported.
Meanwhile, the developer said it
provided relief and assistance to stake-
holders affected by Typhoon Odette
(internationally named Rai) through
emergency loans, supplies, temporary
coverings and repairs, among other
initiatives.
“We are a VisMin (Visayas-Mind-
anao) firm. Thus, we are committed to
assist Cebu and surrounding provinces
get back on track. We are confident that,
as in the past, our concerted efforts will
pave the way for recovery,” Mr. Sobera-
no added.
CLI posted an attributable net income
of P535.96 million in the third quarter
last year, down 24.5% from P709.78 mil-
lion previously. Its nine-month income,
however, rose 23.3% to P1.85 billion from
P1.50 billion a year earlier.
On Thursday, its shares rose 1.75% or
five centavos to P2.91 apiece in the stock
exchange. — Luisa Maria Jacinta C.
Jocson
Forbes Asia’s list
of 50 over 50 top
women leaders
CONVERGE ICT Solutions, Inc. Co-Founder and
President Maria Grace Y. Uy is part of Forbes
Asia’s 50 Over 50: Asia 2022 List, which recog-
nizes women leaders in business, politics, art,
and science in the Asia-Pacific region.
“Ms. Grace Uy is one of only two Filipinas to
make it to the 2022 list, the other being Nobel
Peace Prize laureate and Rappler CEO Maria
Ressa,” Converge said in an e-mailed statement.
According to the company, Ms. Uy is the
youngest honoree on the list of 50 women
above 50 years old who are “shattering age

BSP: Three firms cleared Cisco PHL keen on supporting

and gender norms all over the globe.”
She was cited in her role in growing the
company “into one of the biggest fixed broad-

by SEC to buy bad assets IT-BPM sector’s hybrid work

THE Securities and Exchange
Commission (SEC) has autho-
rized three asset management
companies to buy nonperform-
ing assets of financial institu-
tions during the crisis, according
to an official of the Bangko Sen-
tral ng Pilipinas (BSP).
“There has been no BSP-super-
vised financial institution that has
availed of the incentives under
the FIST (Financial Institutions
Strategic Transfer) Act, but the
SEC has approved applications of
three FIST corporations,” BSP As-
sistant Governor Lyn I. Javier said
in an online briefing on Thursday.
The FIST Act, which was leg-
islated in February 2021, gives
financial institutions an avenue
to clean their balance sheets by
selling nonperforming assets to
FIST corporations that are regis-
tered with the SEC.
Meanwhile, the BSP has re-
ceived 11 master list application
for non-performing assets that
can be disposed through the leg-
islation, Ms. Javier said.
The submission of the master
list is only a step prior to the filing
of an application for a certificate
of eligibility of a financial institu-
tion. The certificate will be issued
by the BSP to prove the eligibility
of nonperforming assets to avail
of tax exemptions and privileges
under the FIST Law.
Earlier, the BSP has said it ex-
pects Philippine banks to offload
at least P152 billion in nonper-
forming assets through the FIST
Law to clean their balance sheets.
“We wish to highlight that the
FIST Act is a standby facility if and
when the increase in nonperform-
ing assets go beyond manageable
levels. The level of nonperforming
loans in the industry remain man-
ageable,” Ms. Javier said.
Latest central bank data
showed bad loans as of November
slipped by 0.43% to P481.879 bil-
lion from P483.98 billion in the
prior month. However, it was still
higher by 19% from the P404.687
billion seen in the same month a
year earlier.
This brought the November
bad loan ratio to 4.35%, the low-
est in eight months or since the
4.21% seen in March 2021.
The BSP said the ratio could
reach 5-6% by end-2021 before
peaking at 8.2% by 2022.
In his weekly virtual briefing,
BSP Governor Benjamin E. Dio-
kno said that the local banking
industry remained sound and
stable despite the crisis.
“The strong initial financial
position and sound governance
of banks have enabled them to
weather this crisis and manage
their nonperforming loans. Long
before the COVID-19 (coronavi-
rus disease 2019) pandemic, banks
have already embedded a strong
corporate governance and effective
risk management in their lending
operations,” Mr. Diokno said.
Preliminary data showed the
banking system’s end-November
2021 total assets rose 7% year
on year to P20.4 trillion. — Luz
Wendy T. Noble
band operators in the Philippines today.”
Ms. Uy founded Converge with her hus-
band Dennis Anthony H. Uy in 2007.
TECHNOLOGY company Cisco Philippines component of successful hybrid work in the “Now, the company which they brought
on Thursday said that it intends to support long term,” he added. public at the height of the pandemic in 2020 is
the information technology and business The hybrid work is seen to be the default valued at around P230 billion (approximately
process management (IT-BPM) sector in its arrangement for Asia-Pacific’s work force $4.6 billion),” Converge noted.
long-term remote work strategy by helping and work spaces this year and beyond, Ms. Uy previously made it to the Forbes
companies adopt the hybrid work setup. according to Plantronics, Inc., a global Asia’s 2021 Power Businesswomen list, which
“The goal is to create a simple and inte- communications company more known recognizes 20 outstanding female business
grated solution to address the challenges of a as Poly. leaders in the Asia-Pacific region.
hybrid work environment,” Officer-in-Charge Organizations are also expected to fo- Ms. Uy is a certified public accountant.
Managing Director for Cisco Philippines cus on offering better support for their re- She held senior executive positions in several
Robin Llamas said in an e-mailed statement. mote workers this year as the spread of the companies, including IBM Philippines, prior to
The company noted that a successful Omicron variant of the coronavirus disease Converge, according to Forbes.
hybrid work strategy requires ample tech- 2019 (COVID-19) shows a complete return “Ms. Uy and Ms. Ressa join other distinguished
nology infrastructure support, talent and to offices is unlikely, according technology women on the list including Tokyo Governor
culture development, and networking and company ManageEngine. Yuriko Koike, World Bank Managing Director Ans-
partnership opportunities. “Today’s work force demands more flex- hula Kant, Samoa Prime Minister Fiame Mata’afa,
“While hybrid work is already being im- ibility to work from anywhere. This calls World Health Organization Chief Scientist Soumya
plemented, we must focus on ensuring that for a radical change in the IT-BPM industry Swaminathan, Macquarie Group CEO and Manag-
this set up is productive and sustainable,” to meet this demand and ensure business ing Director Shemara Wikramanaya, OCBC Group
Mr. Llamas said. continuity, increased competitiveness and CEO Helen Wong, and Indian author Arundhati
“In addition to seamless technology, the employee productivity,” Cisco’s Mr. Llamas Roy,” Converge said. — Arjay L. Balinbin
health and wellness of employees is a critical said. — Arjay L. Balinbin
Philex copper-gold project seen to yield $7 billion over 28 years
PHILEX Mining Corp. said the P93 million by the fifth year, and “The feasibility study as- $850 and $900 for every ounce of
first-phase deposit in its Silan- P309 million by the 10th year. sumed a price of $3.20 per gold,” it added.
gan copper-gold mine project The project has an initial capi- pound of copper and $1,342 an On Thursday, Philex shares
in Surigao del Norte could yield tal expenditure of $224 million ounce for gold — both below rose 2.10% or 11 centavos to
close to $7 billion in sales of me- and will be ready for commercial current prices of copper of over close at P5.35 each in the stock
tallic mineral over 28 years. use in early 2025. It features a $4.00 per pound and of gold exchange.
“The numbers for the Silan- starter mine that will initially that is over $1,800 an ounce. Philex is one of three Philip-
gan Project are very compelling, produce 2,000 metric tons (MT) Using those assumed prices, pine units of Hong Kong-based
pushing us to pursue the mine of ore per day, which will gradu- the combined revenues from First Pacific Co. Ltd., the others
development even without a ally reach 12,000 MT per day by copper and gold totaled to $6.91 being Metro Pacific Investments
strategic partner or major inves- the 12th year. billion over the 28 years life Corp. and PLDT, Inc.
tors as we originally envisioned,” The Boyongan deposit has of the soon-to-be-developed Hastings Holdings, Inc., a unit
said Philex Chief Finance Officer an estimated 81 million MT of mine,” the Philex statement of PLDT Beneficial Trust Fund
Romeo B. Bachoco said in a stock mineable reserve estimated to read. subsidiary MediaQuest Hold-
exchange disclosure on Thursday. yield 992.8 million pounds of “The break-even cost of ings, Inc., has interest in Busi-
The Boyongan deposit is es- copper and 2.81 million ounces producing a pound of copper in nessWorld through the Philippine
timated to post gross revenue of gold. The Bayugo deposit is Silangan is between $2.00 and Star Group, which it controls. —
of P97 million for the first year, still being explored. $2.30 per pound and between Luisa Maria Jacinta C. Jocson
EDITOR TIMOTHY ROY C. MEDINA
New law grants benefits to prosecutors’ survivors
PRESIDENT Rodrigo R. Duterte
has signed into law a measure
granting survivorship benefits
to relatives of deceased retired
prosecutors.
Republic Act (RA) No. 11643,
which was signed by Mr. Duterte
on Jan. 11, grants benefits to the
legitimate spouse and dependent
Goals,
from S1/ 1
Economic managers earlier
said the more restrictive Alert
Level 3 in Metro Manila and near-
by regions could cost P3 billion in
losses to productivity contribu-
tions.
Government of f i cials are
keen on imposing granular
lockdowns instead of total lock-
downs that were implemented
earlier.
Mr. Diokno is hopeful that
because the Omicron is “mild
and less lethal” and since it hit
early in the year, its impact will
not be long-lasting to the growth
outlook.
“ We hope that the variant
will be gone by the middle of
Roxas Blvd,
from S1/ 1
sociation of the Philippines Presi-
dent Maria B. Zapata said partly
in Filipino in a phone interview.
“So this is a really a struggle for
the operators,” she added.
The Metropolitan Manila De-
velopment Authority (MMDA)
said 887 cargo trucks and 1,029
trailers traverse the Roxas Boule-
vard southbound lane every day.
As an alternate route, trucks
and trailers from Bonifacio Drive
going to Roxas Boulevard south-
bound can turn left to P. Burgos
Avenue, then straight towards
Finance Road and Ayala Boule-
vard, then right to San Marcelino
Street, and then P. Quirino Av-
enue to South Luzon Expressway
to their destination.
For free-flowing movement,
Ms. Zapata suggested that all local
government units (LGUs) in the
National Capital Region (NCR)
lift the ban on cargo trucks.
Sought for comment, MMDA
Chairman Benjamin “Benhur” de
Castro Abalos, Jr. said in a phone
message: “There is no truck ban
in the NCR except EDSA since
last year.”
Ms. Zapata said traffic enforc-
ers should be more considerate
of truckers during the closure of
Roxas Boulevard, noting the high
penalties for offenses such as
“obstruction.”
She said the truckers are hop-
ing to discuss their requests with
the Metro Manila Council, which
is composed of mayors.
In a separate phone interview,
Philippine Exporters Confedera-
tion, Inc. (Philexport) Assistant
Vice-President Flordeliza C.
Fitch,
from S1/ 1
The government’s economic
managers said the fiscal gap could
reach 8.2% of GDP for 2021, then
7.7% for this year.
Fitch Solutions said economic
growth this year would likely be
stronger than in 2021 despite the
threat of the Omicron variant
of the coronavirus disease 2019
(COVID-19).
“As such, while the budget
continues to provide economic
stimulus, revenue growth should
be such that the overall deficit
narrows in 2022,” it added.
This year’s P5-trillion na-
tional budget is larger than
previously expected, Fitch So-
lutions said.
Spending would likely grow
by 11.2% in 2022, up from the ex-
pected 11% for 2021.
“Following an announcement
that unused funds from the 2021
budget could be spent in 2022,
we expect this to push up overall
spending for the year,” Fitch So-
lutions said.
Meanwhile, revenues are pro-
jected to expand by 14% this year
from 7% in 2021 as eased lock-
downs support more domestic
activity and tax collections.
FRIDAY, JANUARY 14, 2022 Labor & Management S1/3
children of deceased members The NPS said the law provides retary of Justice, the Regional more than 21 years old, unmar- ceive during his or her lifetime
of the National Prosecution Ser- for a retroactive application for Prosecution Offices, and the of- ried, and not employed. said retirement benefits until
vices (NPS). prosecutors who died one year fices of the Provincial and City The law allows a dependent to such spouse remarries; Provid-
“The benefits provided in the prior to its effectivity “to allow Prosecutors. avail of the benefits regardless of ed, that the surviving spouse
law are also available to the quali- the widest and most meaning- It defines the term “depen- age as long as he or she is incapable and dependent children shall
fied heirs of prosecutors who are ful application of the law for the dent” as a legitimate, illegitimate of self-support because of mental each equally share the retire-
already eligible to retire option- intended beneficiaries.” or legally-adopted child who is or physical defects or conditions. ment benefits,” according to
ally at the time of their death,” the The law includes all prosecu- chiefly dependent on the de- “The surviving legitimate RA No. 11643. — Alyssa Nicole
NPS said in a statement.  tors under the Office of the Sec- ceased retired prosecutor and not spouse shall continue to re- O. Tan
OPINION
February or March. So that gives
us confidence that we will hit
our growth target of 7-9% this
HR’s role in reconciling different management styles
S
year, and 6-7% for the next two ome managers are friendly and empower your new boss transform into something like your alarming in a particular unit, one possible solution
years,” Mr. Diokno said. and engage their people, while others are former boss? is to allow the line executive to reform, with a
The last time the country saw deeply attached to their dictatorial ways transfer in extreme cases.
an infection spike was in August, and are hated for their toxic behavior. What kind HR INTERVENTIONS Last, offer a leadership program for all
no thanks to the Delta variant. of intervention must human resources (HR) per- Consult your HR department and compare its ideas line executives. This could take the form of a
Despite this, the economy beat form to keep workers from making comparisons with what other companies are doing. Assuming deep-dive workshop, as an indirect signal to the
expectations as it grew by 7.1% of the two types? — Red Rose. that your HR department is led by professionals, supervisor and manager roster to improve their
in the third quarter, bringing they should be performing the following interven- poor management skills. The module may include
full-year growth to 4.9%. A motivational speaker was asked to speak by a tions, in a calibrated and objective manner: reviewing their motivational levels and identifying
The Philippine economy charity institution. After the speech, the program One, conduct an annual employee morale their styles, for correction if necessary.
contracted by a record 9.6% in director handed him his professional fee. “I’m sor- survey. Also called as a climate survey, such an
2020 due to having one of the ry, I can’t accept this,” the speaker approach is advisable for any orga- WIN-WIN SOLUTION
world’s longest and strictest
lockdown at the early stages of
said. “I appreciate the honor of
being asked to speak before your
IN THE nization wishing to understand how
the workers perceive the manage-
If these recommendations are not feasible for
whatever reason, as your problem supervisors and
the pandemic. — Luz Wendy group. I suggest you use the mon- WORKPLACE ment style of all line supervisors managers might claim, there could be another
T. Noble ey to support your programs.” REY ELBO and managers. It can also pinpoint solution to consider: Turn the negative approach
The director replied if he would a particular unit, section, or depart- into positive. Learn from “The Adventures of Tom
mind if the money went to the ELBONOMICS: Problem ment where changes must be Sawyer,” which illustrates that even a bothersome
institution’s special fund. workers are created by prioritized. task like painting a fence can be gainfully passed
The speaker replied. “Of course Two, explore using an estab- on to other people.
not. But what’s the special fund
problem managers. lished set of survey questions. Likewise, challenge the toxic managers to make
Leong said the closure of Roxas for?” Some organizations use the Gallup’s supervising their workers an enjoyable experi-
Boulevard is a disruption but it The director replied: “It adds to our funding so Employee Engagement Survey. This includes ques- ence, day in and day out. It may involve rewarding
will improve infrastructure in the we can get a better speaker next time.” tions about how employees are being treated at model line executives for their management styles.
long term. At times, we can’t help but compare people work, how they’re recognized and rewarded, how It could be a radical idea to some people and
“When there’s disruption in the and what they can and cannot do. This happens they’re being coached on career development and not easy to imagine, even for model executives
flow of goods and the movement all the time. Recall your first experience with a how their opinions are solicited. who may be reluctant to offer their styles as a
of people, there are cost implica- new boss early in your employment. Was it a good Three, identify the low-scoring units, sec- solution for management colleagues. Unless you
tions, there is also delay in terms learning experience? Why or why not? If it was tions or departments. There’s no need to identify try it, the result could be to bear the consequences
of time, and all these will mean ad- nightmare, then what made it a nightmare? the problem managers by name. It is enough that of having a good number of demotivated and
ditional cost. Unfortunately, this Whatever the answer, you may have endured they must know how their style is perceived by unproductive workers.
is passed on to the consumers,” the remaining months or years of your tenure workers, regardless of whether the perception is
she noted, adding that there will feeling the pain until an opportunity knocked, true or not. What is important is how they change
also be “missed opportunities and allowing you to transfer elsewhere within the their ways to correct the perception.
decline in productivity because of organization or move to another job, where your Four, consider whether the findings line up Have a chat with REY ELBO via
Facebook, LinkedIn or Twitter or send
the longer route.” boss seemed a lot more friendly. with the attrition rate. There’s no better way to your workplace questions to
Among the alternatives previ- After a few months of working for the new validate the workers’ perceptions with the rate elbonomics@gmail.com
ously eyed was for the container boss, did you start getting a sense of déjà vu? Did of voluntary resignation. If the rate has become or via https://reyelbo.consulting.
vans to be carried on barges for
transport from the Manila Inter-
national Container Terminal to
the Cavite Gateway Terminal in
Tanza, Cavite.
Mr. Abalos said in a phone
interview that the plan will still
push through, “but not right away
while the DPWH is still fixing the
road network in the Tanza sta-
tion.”
“There were some problems
encountered, particularly the
right of way, because the trail-
ers are big... They’ll be stuck in
traffic, so the suggestion is there
should be one entrance and one
exit, so while the DPWH is fix-
ing it, we have no choice [but to
push through with the closure],
kasi unang-una, delikado at baka
mag-collapse na ito (because it
is dangerous and the box culvert
may collapse),” he added.
The agency plans to imple-
ment a zipper lane or counter-
flow scheme for light vehicles “on
a case-to-case basis.”
Revenue collection in the 11
months to November hit P2.7 tril-
lion, or 5.99% higher than last
year, Treasury data showed.
Amid the deterioration of the
country’s fiscal position during
the pandemic, Fitch Solutions
said the next president could face
challenges if he or she prioritizes
growth over deficit consolidation.
The think tank expects the
debt-to- GDP ratio to rise to
69.2% in 2022. To compare, the
debt-to-GDP ratio was 63.1% as of
September last year.
“Government bond investors
may become increasingly concerned
about the surge in public debt, es-
pecially if they believe that further
public debt increases are likely,”
Fitch Solutions said. “In turn, this
could see borrowing costs rise over
the coming years as bondholders
demand a higher risk premia.”
The think tank said the next
president would also need to
scale down spending to cut the
deficit and maintain investor
confidence, noting this is a “chal-
lenging” choice while the country
needs spending in infrastructure,
education, and healthcare. —
Jenina P. Ibañez
4/S1
The
Economy FRIDAY, JANUARY 14, 2022 EDITOR TIMOTHY ROY C. MEDINA

DoF blames pork for inflation Power plant coal stocks

blowout, backs more imports
THE Department of Finance (DoF) said meat
JOB OPENING
prices pushed inflation beyond the govern-
• Customer Service Manager
ment target range in 2021, and pressed for
Qualifications:
• Bachelor’s/College degree in business management or related field more pork imports and a drawdown of the
• Proficiency in Microsoft Office and Customer Service Software
• Ability to maintain calm under pressure pork inventory held in cold storage.
EPOST EDUCENTER INC.
“The 16.8% meat price inflation last year ac-
Unit B & C, 20/F Strata 2000 Bldg., Don Francisco Ortigas Jr. Rd., counted for 1.1 percentage points (of ) the 4.4%
Ortigas Center, San Antonio, Pasig City
Send your resume to eposteducenter.hrd@gmail.com overall inflation,” Finance Undersecretary
Gil S. Beltran said in an economic bulletin on
Thursday.
“Had meat price inflation been half as high,
the upper level of the 2-4% inflation target
range would not have been breached.”
Inflation in 2021 averaged 4.5%, against
the 2.6% reading in 2020 and exceeding the
central bank’s target band.
Mr. Beltran said meat price inflation in
2021 was the highest of any major food item
since 2012.
The lingering effects of African Swine Fever
(ASF) have drastically cut the hog population,
pressuring pork prices higher, he said.
“The Department of Agriculture confirmed
the outbreak of ASF in the country in the
middle of 2019 but it was in 2021 that the
country felt more fully the debilitating effects
of the hog infection.”
Mr. Beltran said the Philippines will need
to continue importing pork to meet demand
and compensate for the supply shortfall.
Other interventions may include the regu-
lar release of pork held in cold storage and
their continuous replenishment from local or
imported supply, he said.
Finance Secretary Carlos G. Dominguez III
supports the proposal by the National Eco-
nomic and Development Authority to extend
the validity of an executive order increasing
import volumes until the end of 2022.
Executive Order No. 133 in May last year
temporarily raised the pork import quota,
known as the minimum access volume, to
254,210 metric tons from 54,210 to address
increasing pork prices.
The hog and meat industry had opposed the
proposed extension, asking the government
to instead support local producers to improve
supply. — Jenina P. Ibañez
meet DoE standards for
30 days’ worth of supply
THE Department of Energy (DoE)
said on Thursday that coal-fired
power plants all have 30 days’ worth
of coal reserves, with some having as
much as 50, as the market tightened
for thermal coal following Indone-
sia’s one-month coal export ban.
“All of them have met the 30-day
requirement. In fact, some of them
even have excess which can cover up
to 45-50 days,” the director of the
DoE’s Electric Power Industry Man-
agement Bureau, Mario C. Marasigan
said at a virtual briefing on Thursday.
In a meeting with the companies
on Tuesday, the Energy department
required full reports on their coal
requirements, the status of imports,
and the schedule of deliveries in
order to provide the authorities a
better picture of the power situation.
“We have yet to receive full
reports from the companies. Actu-
ally, we have assessed that we have
coal inventories but the problem is
what will happen (to) their expected
He said some companies’ imports
were in the advanced stages of the
Indonesian export process, having been
loaded onto vessels awaiting final clear-
ance, when the ban was imposed.
Indonesia, the world’s biggest
thermal coal exporter, suspended
exports on Jan. 1 after its state power
utility reported dangerously low in-
ventory levels at its domestic power
stations, Reuters reported.
The DoE estimates that the Phil-
ippines imported 69.51% of its coal
requirement of 42.476 million metric
tons (MMT) in 2020.
Energy Secretary Alfonso G.
Cusi has said that the Philippines
imported 2.3 MMTs of coal monthly
from Indonesia last year.
Mr. Cusi announced on Monday
that he had written on Jan. 6 to his
Indonesian counterpart, Minister of
Energy and Mineral Resources Afirin
Tasrif, appealing for the ban to be
lifted, specifically for the Philippines.
Power companies operat-

Ban on foreign state-owned schedule of deliveries,” he said.

Mr. Marasigan said one scenario
that needs to be addressed is whether
ing coal-fired plants earlier told
BusinessWorld that they are looking
at tapping other sources of the

firms seen as ‘discriminatory’ the ports can handle the delivery

surge once Indonesia’s ban is lifted.
fuel should the Indonesia ban be
extended. — Marielle C. Lucenio

BUSINESS LEADERS and a former Palace official said on
Thursday that a ban on foreign state-owned companies
is “discriminatory” and runs counter to the liberalizing
intent of the proposed Public Service Act (PSA).
The President’s former Spokesman Herminio
L. Roque, Jr., a Senate candidate, said at the Pandesal
Forum in Quezon City:
“We are supposedly liberalizing the provision of
public service, and yet here is an instance where we
are expressly discriminating against foreign-owned
enterprises.”
The forum was tackling Senate Bill (SB) 2094 or the
proposed Public Service Act, which is currently being
harmonized with its counterpart House measure in
bicameral conference committee.
Under Section 16 of the measure, “an entity
controlled by or acting on behalf of the foreign govern-
ment or foreign state-owned enterprises shall be
prohibited from owning capital in any public service
classified as critical infrastructure.”
“I submit that this discriminatory provision against
state-owned enterprises particularly from China is
patently unconstitutional,” Mr. Roque said. “Although
it is not mentioned that it is Chinese businesses or
Chinese-owned businesses that are targeted, only
Chinese enterprises have state-owned enterprises
active in the public service industry, and therefore we
can reasonably infer that it is directed against Chinese-
owned enterprises.”
The purpose of the law is to allow more entrants
into the sector, he added, which makes this provision
contrary to the government’s objective of heightening
competition to the benefit of consumers.
Philippines-Chinese Mutual Cooperation Society,
Inc. Chairman and Asian Center for Comparative Gover-
nance President Peter T. Laviña said that as the country
has one of the most restrictive investment policies in
the region, and called for any liberalization not to be
exclusionary.
In 2021, Philippine laws were judged to be the
third most restrictive to foreign direct investment
(FDI) in the world, according to the FDI Regulatory
Restrictiveness Index. The index evaluates equity
restrictions, restrictions on key foreign personnel,
operational restrictions and discriminatory screening
for approval mechanisms.
“We should not restrict, discriminate or exclude,”
Mr. Laviña said during the forum, as this may stoke
anti-Chinese sentiment in the Philippines. “Very clearly,
it targets China companies, especially China state-
owned companies.”
He called on legislators to clarify and correct any
such restrictions in all three measures intended to
attract foreign investment, the proposed PSA, the
proposed Foreign Investments Act, and the proposed
Retail Trade Liberalization Act.
“Let’s open up to everyone so that the Philippines
will benefit in the same manner our neighbors have
JOB HIR ING
10 Data Analyst
2 Marketing Manager
benefited from all the foreign investment that has
come into their countries,” Mr. Laviña said.
Anvil Business Club Chairman George Siy said that
“the considerations they put in, in principle, sound
like there is sound reasoning behind them, but then
NCR retail price growth
the timing and the way that they have circumscribed
the conditions” make it seem like they are targeting
Chinese investments.
accelerates in November
Amendments to the pending foreign investment PRICE GROWTH of retail goods “Looking at recent PMI (Pur-
laws should be consistent and non-discriminatory, in the National Capital Region chasing Managers’ Index) figures,
he said, “and we should recognize that they can be (NCR) accelerated to its highest we’ve noted that increase mate-
changed over time, they are not fixed. We need to level in more than two-and-a-half rial costs may have forced pro-
adjust it to new technologies, cultures, and definitions years in November, with consum- ducers to pass on price increases
of security,” Mr. Siy said, noting that the laws and er demand not dampened by the to customers and finding its way
regulations should evolve with the times. higher cost of goods. to higher retail prices,” he said in
Flexibility in the law is vital, as is the execution, he Preliminary data from the an e-mail interview.
added. Proper implementation can be done by building Philippine Statistics Author- The country’s manufacturing
a culture that brings together talent pools of techno- ity (PSA) indicate that the gen- PMI in November jumped to an
crats, allowing them to enter government by providing eral retail price index (GRPI) rose eight-month high of 51.7 from 51
the right incentives. 2.3% from a year earlier, against posted in October, as new orders
This will allow new capital and technology inflows the 2.1% posted in October, and increased that month.
from abroad which will build new markets and capaci- the year-earlier rate of 1.3%. A PMI reading of above 50
ties, accelerate recovery, and prepare the country for The November result matched indicates that manufacturers are
the fourth stage of industrial revolution, Mr. Siy said. the rise seen in May 2021 and was gearing up to increase production
Federation of Filipino Chinese Chambers of Com- the highest increment since the by placing more orders, making the
merce and Industry, Inc. President Henry Lim Bon 2.7% expansion in April 2019. statistic a leading indicator for fu-
Liong, meanwhile, said his organization supports the In the 11 months to Novem- ture economic conditions; a read-
government’s economic reform agenda to make the ber, Metro Manila’s retail price ing below 50 signals a contraction.
country more globally competitive and promote ease growth averaged 2%, against the Mr. Mapa also noted that the
of doing business. year-earlier 1.2%. anticipation of the holiday buy-
Mr. Lim Bon Liong also said he was for the The PSA attributed November’s ing rush also contributed to the
amendments made in SB 2094 which establishes a uptick to a double-digit increase in increase in prices, which further
rate setting mechanism that will result in fair and mineral fuels, lubricants and related improved as cases of coronavirus
reasonable prices for commodities and services, materials, whose prices rose 25% disease 2019 (COVID-19) contin-
improve technology, and modernize service. He year on year from 22.1% in October. ued to drop in November.
also agreed with the updated penalties under the Other commodities where pric- According to the Department
proposed measure. es accelerated included chemicals, of Health, 1,455 new COVID-19
“The passage of this legislation will stimulate the including animal and vegetable oils cases were recorded at the start
provision of better services by lifting the restrictions and fats (1.3% in November from of November, which gradually
on ownership and operation of public services in the 0.8% in October); food (2.1% from decreased to 322 cases by Nov. 30.
country,” Mr. Lim Bon Liong said. “This will eventually 1.9%); machinery and transport However, a fresh surge brought
cascade to other parts of the economy since these equipment (0.4% from 0.3%); mis- by the highly mutated Omicron
are necessary for businesses to try to improve access cellaneous manufactured articles variant, which was first detected
and lower rates, which translates to a more conducive (0.3% from 0.2%); and manufac- in South Africa, is currently surg-
environment (for) doing business in the country.” tured goods classified chiefly by ing through the Philippines.
The entry of foreign investors, he said, will translate materials (1.2% from 1.1%). “The ongoing wave of infections
to more jobs, which are needed for the country to Beverages and tobacco price has just as quickly knocked down
recover from the pandemic. growth slowed to 4.4% in Novem- both business and consumer senti-
“The influx of foreign direct investment or the FDI ber from 6% in October, while that ment, which could sap inflationary
has been on the upswing, and we believe that this of crude materials, inedible except pressures on retail prices in the
legislation will be crucial to sustaining and further fuels eased to 0.9% from 1%. near term,” Mr. Mapa said.
improving this favorable trend,” he added. ING Bank N.V. Manila Senior The monthly GRPI is also used
The Senate approved its version of the Public Ser- Economist Nicholas Antonio T. as a deflator of the National Ac-
vices Act in December, while the House of Representa- Mapa said the rise in retail prices counts, particularly on the retail
tives passed the counterpart bill in March 2020. in November was due to higher trade sector, and serves as the ba-
Congress is hoping to pass the bill, certified as production costs caused by sup- sis of business forecasting in that
urgent by President Rodrigo R. Duterte, before the end ply chain bottlenecks as well as sector. —  Bernadette Therese
of the Duterte administration. — Alyssa Nicole O. Tan strong consumer demand. M. Gadon

Locally manufactured COVID-19 drug awaiting FDA approval

5 Korean IT Specialist
10 Marketing Assistant
15 Customer Service Representative
10 Korean Helpdesk Support
College Graduate
At least 1 Year experience
Able to read, write and speak (KOREAN, & ENGLISH).
Advance working knowledge in graphic design, spreadsheets, troubleshooting
LLOYD LABORATORIES, Inc. On Monday, the Board of mit to manufacture the drug “ We are not paying any The vaccine carries a provi-
said it is awaiting approval Investments approved the appli- for Recuenco General Hospital royalties to anyone. That is sional name of VO-1 and will
5 Sales Representative
High School graduates are welcome from the Food and Drug Ad- cation lodged by Lloyd Laborato- in Taguig, which it provided skipped from the equation. It be a recombinant vaccine that
At least 1yr experience as Sales agent or equivalent
Strong passion for selling and ability to communicate well ministration (FDA) to begin ries to register the drug manufac- with 600 capsules. will also be locally manufac- introduces a fusion protein to
KINDOSAR PROCESS SOLUTIONS INC. manufacturing Molnupiravir, turing operation for incentives. The company said it has the tured, so imports were limited patients. Antonio D. Ligsay,
Unit 5D Rose Industries Building, Pioneer St., Kapitolyo, Pasig City an oral drug to treat coronavi- The pharmaceutical compa- capacity to manufacture 1 mil- to active pharmaceutical in- medical consultant and head
Tel No. (02)8661-3682 Email: kindosarsolutionsinc@gmail.com
Look for: Sheila May L. Garcia
rus disease 2019 (COVID-19). ny said it submitted all compli- lion capsules — either 200 mg gredients (API) or the raw ma- of the clinical trials, said facili-
“Once cleared, within no ance documents and is waiting or 400 mg —per batch, with terials,” said Mr. Bamba. “We ties in the Philippines have the
time at all we can make the for emergency use authoriza- each batch to take three or four are able to (adopt) a low-price capacity to produce pre-filled
capsules available to people tion (EUA) from the FDA to days. strategy, being a local manu- syringes. 
JOB HIRING in the Philippines. We are begin manufacturing the drug. “We are not yet allowed to facturer and generic company.” The first two phases of the
ready for the manufacturing “We will be able to serve all distribute to drugstores, only Lloyd Laboratories received vaccine project have been
10 Business Consultant
5 Marketing Assistant of the product immediately. If hospitals who require it, no limi- hospitals and local govern- technology transfer to produce completed in China. The third
10 Customer Service Representative the FDA gives the clearance tations,” said Business Develop- ment units, as these are limited the drug from India’s Optimus phase of clinical studies is
• College Graduate
•
•
At least 1 Year experience
Able to read, write and speak (KOREAN, MANDARIN & ENGLISH)
tomorrow, from five to seven ment Director Christopher M. and controlled products,” Mr. Pharma Pvt. Ltd. currently being administered
• Advance working knowledge in graphic design, spreadsheets, days we can make it available Bamba. “We currently have a lot of Bamba added. Meanwhile, the company in the Philippines, Indone-
troubleshooting
3 Sales Representative to the market,” Vice-President inquiries from government hos- Lloyd Laboratories said that also said it is currently work- sia, and Russia. The study
• High School graduates are welcome
• At least 1yr experience as Sales agent or equivalent for Research and Development pitals. It will be fast for us to move as affordability is a top con- ing on manufacturing a CO - involves 21,500 test subjects,
• Strong passion for selling and ability to communicate well
Chandra Shekhara Reddy forward once we get the EUA.” cern, the drug will be 30 to 50% VID-19 vaccine with Chinese of which the Philippines pro-
KP JOEUN CONSULTANCY INC.
UNIT 7 Goldland Millenia Tower J.M Escriva Drive, Ortigas Center, San Nagareddy said in a briefing on Lloyd Laboratories obtained cheaper than imported drugs pharmaceutical group Livzon vided 12,000. — Luisa Maria
Antonio, Pasig City
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Thursday. a Compassionate Special Per- on the market. Mavpharm, Inc. Jacinta C. Jocson
Email: kpjoeun.trc@gmail.com
Look for: Ms. Anne
FRIDAY, JANUARY 14, 2022 S1/5
6/S1 Opinion
Beyond Nomura’s uncertainty:
The biggest irony of a Marcos Jr. presidency
W
hile Vice-President
Leni Robredo was
considered by Nomu-
ra Global Research as the mar-
ket-friendly choice as the next
president of the Republic, former
Senator Ferdinand Marcos, Jr.
was dismissed as an uncertain
choice. Nomura believed that
Marcos Jr. is less market-friendly
because his victory might cast
doubt on the May 2022 elections.
To Nomura’s ASEAN research
team based in Singapore, “a Mar-
cos victory will likely be viewed
negatively owing to perceptions
against him, in part because his
candidacy is facing some petitions
for disqualification on grounds of
making false statements and a
previous conviction of failing to
file income tax returns.”
Indeed, there is not only one
petition but seven petitions ques-
tioning the qualifications of Mar-
cos Jr. as candidate for president.
Seven petitions were filed with the
Commission on Elections (Come-
lec) for the invalidation of his
candidacy. Of these petitions, four
wanted him disqualified on the ba-
sis of his 1997 tax conviction. Two
petitions asked Comelec to cancel
his certificate of candidacy (COC)
on account of his conviction and
therefore ineligibility to run for
public office. One petition is for
him to be declared as nuisance
candidate because “his purpose
was mainly to have his family’s po-
litical comeback in Malacañang.”
This last one was dismissed by the
Comelec outright.
To Nomura, choosing Marcos
is choosing uncertainty as to the
possible outcome of the May elec-
tions. His scores in Nomura’s rat-
ing of the presidential bets and
their running mates paled in com-
parison with Robredo and Senator
Kiko Pangilinan’s performance.
They topped all the teams in all the
five criteria of national experience,
business friendliness, fiscal disci-
pline, infrastructure progress, and
continuity/good governance.
Marcos Jr. and Sara Duterte’s
team obtained four out of five in
infrastructure progress but only
three out of five in fiscal discipline
and continuity/good governance.
The Davos Gang’s risk list makes for depressing reading
By Mark Gilbert
THE World Economic Forum (WEF),
arranger of the annual Davos shindig,
has just published its 17th annual Glob-
al Risks Report. It makes for thorough-
ly depressing reading — for its context
as much as its content.
Male, pale, and stale remains the
defining characteristic of the Davos
crowd. Some two-thirds of the more
than 900 survey respondents were
male, with almost half based in Eu-
rope and more than 40% aged 50 or
over. More than 40% were business
executives, with 16% working in gov-
ernment, 17% in academia and 10% in
nongovernmental organizations.
But the gender imbalance isn’t the
most disconcerting aspect of the re-
port. Five of the top 10 risks that survey
RAUL L. LOCSIN
Founder
FRIDAY, JANUARY 14, 2022
SIGNS AND
WONDERS
DIWA C. GUINIGUNDO
They had dismal ratings in na-
tional experience, even lower
than Senators Ping Lacson and
Tito Sotto; and in business friend-
liness, they had the lowest score
among all the other teams.
The other issue of uncertainty
focuses on platforms of govern-
ment. Except for his brief com-
ments on specific issues of the
day, Marcos Jr. has not exactly
bared his platform of govern-
ment. As late as December last
year, when approached by a CNN
reporter for an interview on his
business and economic platform,
he declined, reasoning that he
had nothing much to say.
A month earlier, Marcos Jr.
failed to attend the 47 th Philip-
pine Business Conference and
participants said are the most severe
facing the world in the coming decade
are tied to the environment. The top
three all stem from the climate emer-
gency, with “climate action failure”
deemed the biggest global threat in
the next 10 years. So much for all those
COP conferences and the 2015 Paris
agreement designed to limit global
warming.
That’s particularly disheartening
for two reasons. First, it’s been five
years since the failure to address
climate change initially rose to the
top of the Davos worry list, and yet
the situation seems to be getting
worse. The WEF’s report ranked ex-
treme weather events as the world’s
most challenging peril from 2017 to
2021, and yet the planet continues
to overheat.
In the past half century, the last
seven years rank as the hottest on re-
WILFREDO G. REYES
Editor-in-Chief MARK T. AMOGUIS Research Head l MARIFI S. JARA Mindanao Bureau Chief l JOSE NIÑO D. NICOLAS III Head of Digital Services l SAM L. MARCELO Multimedia Editor l FRANCISCO P. BALTAZAR Sports Editor
Expo. This could have been a
great occasion to give the busi-
ness community a glimpse of his
vision. All the other presidential
candidates showed up to present
their respective plans on what the
Filipino people could expect from
them in the first 100 days in office
if elected chief of state.
The Nomura report raised the
issue of uncertainty even as Mar-
cos Jr. is leading many national
surveys. The Nomura economists
must have recognized that his
campaign strategy seems to have
bypassed the traditional media
where fact checking and editorial
supervision normally operate, and
has leveraged on social media and
reached out directly to the people
with its own narrative. Sadly, the
narrative does not conform to
both history and facts. Martial law
as proclaimed by his own father
Marcos Sr. really happened with
all the violations of human rights
and confiscation of private corpo-
cord, according to data published ear-
lier this week by the European Union’s
Copernicus Climate Change Service.
The numbers show 2021 was the fifth
warmest period in 52 years, and hotter
than both 2015 and 2018. A surge in
atmospheric methane, a greenhouse
gas more than 80 times more powerful
than carbon dioxide in contributing to
global warming, helped make July the
hottest single month ever recorded by
the National Oceanic and Atmospheric
Administration. No wonder wildfires
have become almost commonplace in
many regions.
The second reason to be dismayed
is that of all the risks that society faces,
the tools are available to governments
to ease, if not end, the climate crisis.
Terrorist attacks, natural disasters and
cybercrime — all of which have fea-
tured prominently in the WEF rank-
ings in recent years — are slippery,
CATHY ROSE A. GARCIA Managing Editor l ALICIA A. HERRERA, BETTINA FAYE V. ROC, TIMOTHY ROY C. MEDINA Associate Editors l NORMAN P. AQUINO Special Reports Editor
“recognize the heroism and sac-
rifices of all Filipinos who were
victims of summary execution,
torture, enforced or involuntary
disappearance and other gross
human rights violations commit-
ted during the regime of former
President Ferdinand E. Marcos
covering the period from Sept. 21,
1972 to Feb. 25, 1986 and restore
the victims’ honor and dignity.”
No less than Congress ac-
knowledges its moral and legal
obligation to provide reparation
to the victims and their families
as well as those whose proper-
ties or businesses “were forcibly
taken over, sequestered or used,
or those whose professions were
damaged…”
There is another formidable
challenge to Marcos Jr.
Section 27 of the same law
mandates the establishment,
restoration and preservation of a
museum, library, and similar in-
PHILIPPINE STAR/RUSSELL PALMA
stitutions in honor of the human
rights victims during the Marcos
Regime. Thus, a Freedom Memo-
rial Museum is about to rise on
a 1.4-hectare lot in UP Diliman
under the auspices of the Human
Rights Violations Victims’ Me-
morial Commission.
rations. Contrary to the Marcos ties which he continues to deny? As its Executive Director Car-
family’s claim that their wealth How would he abide by the various melo Crisanto explained, a state-
came from Marcos Sr.’s fabulous court rulings that unequivocally sponsored museum perpetuating
legal fees, there are enough laws declared the family’s wealth ill- the atrocities of military rule is
and court rulings that contradict gotten from public treasury? “akin to the government apologiz-
the family narrative that until to- The irony of it all is magnifi- ing for unleashing state forces upon
day continues to dominate social cent: Marcos Jr. — who has re- hapless citizens — and a reminder
media, especially YouTube. peatedly failed to acknowledge for succeeding administrations not
But following the kind of nar- the martial law atrocities and to make the same mistake.”
rative that is being peddled to the plunder of the nation — would Will Marcos Jr. attend the in-
Filipino people, there is a more now be charged by the Constitu- auguration of this Museum, and
fundamental, more difficult issue tion to enforce the very laws that commit to allocate a sufficient
if Marcos Jr. wins the presidency. recognize what he denies. amount in the General Appro-
Winning an election repre- For instance, RA 10368, ap- priations Act, to supplement the
sents not only an ascension to proved on Feb 25, 2013, provides initial funding of P500 million
power, but also a curtailment of for reparation and recognition of the Memorial Commission,
one’s private rights and freedoms. of victims of human rights viola- knowing that its vision is to en-
Few people realize this. As a pri- tions during the Marcos Regime. able our civil society to know and
vate citizen, Marcos Jr. is virtually Also known as the “Human be reminded of martial law as a
free to criticize government insti- Rights Victims Reparation and “way of promoting good gover-
tutions and revise history based Recognition Act of 2013,” the law nance towards just, humane and
on his own whims and opinions, overturns nearly everything that democratic society”?
no matter how unfounded. Marcos Jr. has denied knowing, What about the issue of ill-
But what happens if he becomes much less, admitting. gotten wealth?
the Chief Executive? How would Marcos Jr. will be challenged Former Chief Justice Artemio
he implement various laws with re- in implementing this law because V. Panganiban in his Inquirer col-
spect to martial law and its atroci- it declared it a state policy to umn made it easier for everyone to
FREEPIK
amorphous dangers to tackle. Taking
action to stop destroying the planet is
practical and achievable.
World in Peril
“Identify the most severe risks on a global scale over the
And yet even rich nations contin- next 10 years.”
ue to miss their targets. Germany’s
emissions climbed by 4.5% in 2021 Ranking Risk
compared with the previous year, 1 Climate action failure
according to think tank Agora Ener-
giewende. The country will probably 2 Extreme weather
fail to achieve its goals this year and 3 Biodiversity loss
next and has a “drastic deficit” in its ef-
forts to tackle global warming, German 4 Social cohesion erosion
Economy Minister Robert Habeck said 5 Livelihood crises
earlier this week.
Curbing greenhouse gas emissions 6 Infectious diseases
isn’t easy or cheap, but at least it’s mea-
7 Human environmental damage
surable and within the purview of con-
certed government action to achieve. 8 Natural resource crises
Let’s hope that in the coming years,
9 Debt crises
countries take enough steps that the
climate emergency drops off the WEF’s 10 Geoeconomic confrontation
hazards facing the world. n
SOURCE: WORLD ECONOMIC FORUM
BLOOMBERG OPINION
Editorial (+632) 8535-9919
editor@bworldonline.com

keep track of court rulings with a
common theme: the Marcos fam-
ily accumulated ill-gotten wealth.
For instance, the Supreme
Court in the Republic v. Sandi-
ganbayan (July 15, 2003), penned
by Justice Renato C. Corona,
forfeited $658 million owned by
Ferdinand and Imelda Marcos in
favor of the Philippine Govern-
ment. Kept in multilayers of front
foundations and organizations,
the Court ruled the amount was
not in proportion to the “known
lawful income of the (Marcos
couple from 1965-1985) since
they did not file any Statement
of Assets and Liabilities, as re-
quired by law, from which their
net worth could be determined.”
Their lawful income only totaled
$304,372.43. Anything above this
was deemed ill-gotten.
Other Supreme Court rulings
which forfeited assets and other
properties held by Marcos’ cro-
nies to the Philippine Govern-
ment proved that the Marcos era
as “well-entrenched plundering
regime of 20 years.” While the
Marcos family also won some
cases at the High Court, it was
because of the prosecutors’ utter
failure to observe simple proce-
dural and evidentiary rules, to use
CJ Panganiban’s own words.
So far, everyone should know
that more than P170 billion has
already been recovered by the
government, which puts to rest
the issue of whether there is sto-
len wealth or not. However, more
than P100 billion remains hidden
and awaiting recovery from the
Marcos estate. Will a Marcos Jr.
presidency result in its return to
the Philippine government?
To be sure, the issue goes be-
yond Nomura’s uncertainty. It is
also beyond an existential dread
because all these years, Marcos
Jr.’s credo was consistently coun-
ter to history and our body of laws.
It is up to the Filipino electorate
to decide on the side of history and
avoid this fruitless irony. n
DIWA C. GUINIGUNDO is the former deputy
governor for the Monetary and Economics
Sector, the Bangko Sentral ng Pilipinas (BSP).
He served the BSP for 41 years.
In 2001-2003, he was alternate
executive director at the
International Monetary
Fund in Washington, DC.
He is the senior pastor of
the Fullness of Christ
International Ministries
in Mandaluyong.
COVID revealed that our youth don’t matter
J
oe Rogan’s December 2021
interview of Dr. Robert
Malone is touted as “the
most important in our time.” And
it might well be that. Exposing the
inutility of masks and the evil of
mandatory vaccination, Malone
(a virologist and immunologist)
also talked about, and thus intro-
duced to many, the idea of “mass
formation psychosis.”
Medium (“The Original Mass
Formation Psychosis…”; Jan. 5
2022) defines it as “when a large
part of the society focuses its at-
tention on the leader or series
of occasions and their attention
shifts on one small issue or point.
Followers can be hypnotized and
be led anywhere, nevertheless of
data proving otherwise.” Actu-
ally, it was in another Joe Rogan
interview, with cardiologist Peter
McCullough, that the concept
first came up and from there dis-
cussed the four elements thereof
and its relevance to the present
situation:
• prolonged isolation of popu-
lation: lockdown
• depriving the population and
causing them to despair: viola-
tion of rights, bans on religious or
social gatherings, etc.
• supply constant anxiety:
daily reportage of new COVID
cases and deaths
• single solution from author-
ity figure: vaccine
Of course mass media ganged
up on this, immediately scoffing
at the idea and spent all their
news space trying to debunk it.
Google suppressed any objective
or positive discussion on mass
formation psychosis and Wiki
suspended its page, placing it on
“temporary maintenance.”
Advertising (+632) 8535-9941 Circulation tel. (+632) 8535-9940
advertising@bworldonline.com circulation@bworldonline.com
Challenge and opportunity
“D
efending democracy” and
“upholding the rule of law”
have long been in the United
States of America’s ideological arsenal of
justification for its intervention in the af-
fairs of other nations. But if we are to be-
lieve its own President, his political party,
and much of its media, the country Filipi-
nos trust the most is in crisis because both
are under threat at home. Rather than the
foreign foes the US has waged multiple
wars against, it is its own citizens who
have made that danger imminent.
Fueled both by malice as well as disin-
formation, that crisis, because occurring
in one of world’s supposedly “most mature
democracies,” nevertheless has an upside
to it. It underscores how even more fragile
democracy can be in such countries as the
Philippines once lies, be-
cause repeated so often,
assume the appearance VANTAGE POINT
of truths. LUIS V. TEODORO
In the United States
it has alerted those who
take democratic rights for granted to the
perils to those rights that lurk in the eco- police officers killed
nomic and political establishment from
which they choose their leaders. For the
first time in US history, a sitting President contradicted Trump’s claims and lament-
not only described his 2020 rival for the
White House as a liar and as “a threat to
democracy” but also as “a defeated for-
mer President” who refused to respect
the peaceful transfer of power and who
instead “held a dagger at the throat of
American democracy.”
Joseph Biden minced no words in re-
ferring to Donald Trump as the US marked
the first anniversary of the Jan. 6, 2021
storming and occupation of Congress by
hundreds of Trump supporters in an at-
tempt to stop Biden’s official declaration
as the 46th President of the United States.
Biden blamed that “armed insurrec-
tion” on Trump’s “web of lies” about the
2020 elections whose result he and his
followers say was “rigged.” He went on to
declare that the former President egged
on the rioters because he “values power
over principle,” “because he sees his inter-
ests as more important than his country’s
interests,” and “because his bruised ego
matters to him more than our democracy
and our Constitution.” A year after, the
threat to both had not waned. Biden told
his audience that “we are in a battle for the elections will not stop his campaign for an
soul of America” — that what is at stake in
that war is democracy itself.
Much of the US media except Fox News
agreed that US democracy is under grave
threat. They weighed in with specials on,
among others, “saving democracy,” and
BEING RIGHT
JEMY GATDULA
It wouldn’t have been so bad
really. If adults and the elderly are
happy to behave like psychos and
engage in bizarre cultish behav-
ior, that’s their call. The problem
is if it’s done on the youth, which
for the Philippines constitutes
around 70% of the population.
All this — the lockdown, mask-
ing, mandatory vaccination — are
the complete ingredients to de-
stroy the present and future of
our youths. All for what? To pro-
tect an identified segment of our
society that refuses to be identi-
fied as aged or less than healthy,
that could have been reasonably
BusinessWorld Publishing Corporation, 95 Balete Drive Ext.,
New Manila Quezon City, Metro Manila, Philippines 1112
interviews with
the families of the
and injured by the rioters, and with some
members of the Republican Party who
ed much of their party’s support for his
lies and the insurrection.
The information the media and other
institutions provided was a major factor in
Trump’s defeat in the Nov. 3, 2020 Presi-
dential elections. Trump and company’s
repudiation of its results, and the violence
that ensued on Jan. 6, 2021 are as unprec-
edented in US history as Biden’s words.
The integrity of elections is crucial
to democratic polities, while the use of
violence in questioning them presumes
the need for force in resolving differ-
ences. Trump has claimed the first and
encouraged the second. It is in alarm over
both that Biden, the Democratic Party,
and much of the US media agree that US
democracy is under threat and must be
defended from the likes of Trump and his
cohorts both in and out of government.
Trump is no longer in power. But he
still has much of the Republican Party and
various groups like Christian fundamen-
talists, neo-Nazi, pro-gun, white suprem-
acist, and racist formations behind him.
He has declared that his losing the 2020
anti-immigrant, exclusionary America,
and he has threatened to run again in
2024. Although he is now 75, and claims
to be in perfect health, time could still
catch up with him before that year. But
even if that happens, what some analysts
protected without the disastrous
costs being paid by the youth.
The “20s aren’t supposed to
represent stagnancy or solitude.
They’re meant to be filled with
fun, heartbreak, and growth,
where the comforts of friendship
buffer us against uncertainty and
help us figure out who we are. Yet
for the better part of two years
now, thanks to COVID-19, we are
forced to stay home more than
head out, and when we do, have
to count who is in or out when we
meet for meals.”
“University is meant to be a
time to make friends, fall in love,
make mistakes but COVID-19 put
a hard stop to developing these
potential relationships. For one,
it took away what matters – face-
to-face interactions.” (“Has CO-
MIGUEL G. BELMONTE
President and Chief Executive Officer
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www.bworldonline.com
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VECTORJUICE-FREEPIK are al-
ready
referring
to as “Trumpism” will quite probably
outlive him. Even without Trump, that
“philosophy” has already ushered in a
period of political instability that will
outlast Biden’s term.
What the US is going through is in
many ways what other countries and peo-
ples have had to endure, and much worse
— in many cases with the instigation and
support of various US administrations
whether Democrat or Republican. Among
others, the September 1973 coup d’état
against, and assassination of, the demo-
cratically elected President of Chile, Sal-
vador Allende, which put a brutal military
dictatorship in power, comes to mind.
So does the support by a succession of
US regimes for the Marcos dictatorship
in the Philippines that began with the
declaration of martial law in 1972. In both
instances, the US in effect validated the
use, in behalf of its and its local collabora-
tors’ interests, of the very same violence
and lawlessness the Biden administration
is now condemning.
US economic, military, and political
support helped keep the Marcos klep-
tocracy in power for 14 years. The dicta-
torship made Marcosismo, home-grown
Philippine fascism, a perennial threat
to the democratization of the country
and a lethal virus the Philippine political
elite often uses to threaten critics and
dissenters with. It has outlived “People
Power” twice, and outlasted six post-Mar-
cos regimes. Its current version values
VID-19 robbed the young of their same period, driven by higher
youth?”; Channel News Asia, incidents of crises among young
2022) girls. The data is another piece of
The effects are certainly there: the picture showing how much
Thailand is seeing a rise in sui- youth have been affected by the
cides; Malaysia and the Philip- pandemic, mentally and emo-
pines saw suicides increase in tionally.” (“CDC saw 51% increase
2021. The US Centers for Disease in suicide attempts by adolescent
Control and Prevention “re- girls during pandemic,” Leandra
ported an alarming increase in Bernstein, June 2021)
the number of suicide attempts And it can’t be said that lock-
by adolescent girls during the ing the youth up is for their own
pandemic. Between February good: “By May and June 2021,
and March 2021, the number of pediatricians noticed an un-
emergency department visits for precedented, counter seasonal
presumed suicide attempts was surge in communicable illness-
50.6% higher among girls aged 12- es, particularly RSV. Hand, foot,
17 compared to the same period and mouth disease came right
in 2019.” along with it, tearing through
Also “emergency department schools and day care centers
mental health visits were up 31% all summer with unmistakable
among adolescents during the boils. Strep throat got in on the
LUCIEN C. DY TIOCO JAY R. SARMIENTO Sales and Marketing Head l JEANETTE F. DOMINGUEZ Advertising Manager
Executive Vice-President EDWIN L. MONFORTE Circulation Director
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violence and intimidation as the first and
last methods of governance, and has made
corruption and indifference to human
lives, liberties, and the people’s welfare its
first priorities. An even worse mutation of
it could come to power this election year.
The resilience of Marcosismo is based
on the ignorance that disinformation gen-
erates and the willful indifference to fac-
tual evidence among millions of Filipinos.
It is a crucial factor in the acceptability of
“strong man” rule.
Much of the lies and rewriting of history
that feed that preference are deliberately
cultivated by the trolls and hacks in print
and broadcast media in the pay of those
handful of families that have monopolized
political power in these isles for decades
and who want to keep it whatever the cost
to this country and its people. Those dynas-
ties are not only threatening to completely
overwhelm the relatively few adherents
of reason, democratic choice, reform, and
just plain civility among the citizenry. They
are also flourishing by using the ideology of
dominance, repression, and exploitation
that lives on in what passes for the minds
not only of the ruling oligarchy but also of
its benighted followers.
Only relevant and accurate informa-
tion can combat this insidious and con-
tinuing threat. That immense respon-
sibility has fallen on those individuals
and organizations, most specially those
Filipinos for whom the resumption of the
democratization process has never been
more urgent than today, and those in the
media who are in a position to provide that
kind of information.
The campaign period for the 2022 elec-
tions is a signal challenge and opportu-
nity to do so, not only to rescue the country
from despotism and ineptitude, but also to
make sure that neither afflicts it ever again.
Like those Americans who claim ad-
herence to democratic principles, their
Philippine counterparts are also in a battle
—against the corrupt, incompetent and
power-mad legions — for their own coun-
try’s soul. Their victory can be most clearly
expressed in, to begin with, their prevailing
in the coming polls. But that would be only
the beginning. Like Trumpism in the US,
Marcosismo will continue to plague this
country until the Filipino millions achieve
its economic, political, and social transfor-
mation that is the only antidote to the false
promises of fascist rule. n
LUIS V. TEODORO is on Facebook and
Twitter (@luisteodoro).
www.luisteodoro.com
action too. Instead of dodging
diseases, this catch-up wave
suggested, children had largely
just deferred them.
“Some alleged COVID-19 miti-
gation measures, such as more
frequent sanitizing of preschool
surfaces, would have actually
done more to prevent RSV (which
does commonly transmit itself
via contact with contaminated
surfaces) than to prevent CO -
VID-19 (which does not). Yet kids
were slammed by RSV anyway.
Isolation turned them into dry
immunological kindling.
“As it turns out, isolation does
not put your immune system on
TAYLOR BRANDON-UNSPLASH
pause; sometimes immunity fol-
lows a ‘use it or lose it’ rule. While
they were Zooming in to school,
children with existing partial im-
munity to endemic contagious
diseases missed many opportuni-
ties to be exposed again, which
would have refreshed their im-
mune systems. We ended up with
the opposite of herd immunity:
a bunch of kids with suboptimal
immune systems.” (“Closing
Schools To Protect Kids Made
Them Sick,” Reason, February
2022)
Frankly, the next time any
national or local “leader” talks
about caring for the youth, the
sane proper response should be
is: oh, shut up! n
JEMY GATDULA is a senior
fellow of the Philippine Council
for Foreign Relations and a
Philippine Judicial Academy
law lecturer for constitutional
philosophy and jurisprudence
https://www.facebook.com/
jigatdula/
Twitter@jemygatdula
8/S1
The
World FRIDAY, JANUARY 14, 2022 EDITOR CATHY ROSE A. GARCIA

Omicron less severe than Delta but still poses danger for unvaccinated — WHO
THE HIGHLY infectious Omicron coro- Speaking at a news briefing, director “We mustn’t allow this virus a free ride week to Jan. 9 from a week earlier — by He said the majority of people hospi-
navirus variant causes less severe disease general Tedros Adhanom Ghebreyesus or wave the white flag, especially when far the most cases reported in a single talized around the world with COVID-19
than the Delta strain but it remains a said more than 90 countries were yet to so many people around the globe remain week. were unvaccinated and that if transmis-
“dangerous virus”, particularly for those meet the target of vaccinating 40% of unvaccinated,” he said. “This huge spike in infections is being sion was not curtailed there was greater
who are unvaccinated, the head of the their populations and more than 85% In its weekly epidemiological re- driven by the Omicron variant, which risk of another variant emerging that
World Health Organization (WHO) said of people in Africa were yet to receive a port on Tuesday, the WHO said cases is rapidly replacing Delta in almost all could be even more transmissible, and
on Wednesday. single dose. increased by 55%, or 15 million, in the countries,” Mr. Tedros said. more deadly, than Omicron. — Reuters

Indonesia relaxes coal export ban Biden imposes first

JAKARTA — Indonesia, the
world’s biggest thermal coal ex-
porter, has allowed 37 loaded
coal vessels to depart after they
secured approvals from authori-
ties, the Coordinating Ministry of
Maritime and Investment Affairs
said on Thursday.
In a statement, the ministry
said an export ban implemented
on Jan. 1 had been eased for min-
ers that had met a requirement
to sell a portion of their output
for local power generation after
the state utility procured enough
coal at power stations to ensure
15 days of operations.
“I request that this is super-
vised closely so this also becomes
a moment for us to improve do-
mestic governance,” Luhut Pan-
djaitan, coordinating minister for
Maritime and Investment Affairs,
said in the statement.
The 37 vessels included 14
ships whose clearance was an-
nounced earlier in the week. It
was not immediately known how
much coal the vessels carried.
Sending shockwaves through
global energy markets, Indonesia
set the export ban after state pow-
er company, Perusahaan Listrik
Negara (PLN), reported critically
low coal stocks at power plants
that left Indonesia on the brink of
widespread power outages.
Indonesian authorities
blamed the coal supply crisis on
miners failing to meet a so-called
Domestic Market Obligation
(DMO), requiring them to sell
25% of output to local buyers
with a price cap at $70 per ton for
power plants.
The government has been lob-
bied by coal miners and also some
of its biggest buyers including
Japan and South Korea to ease
the export ban.
There were about 120 vessels
either loading or waiting to load
off Indonesian’s coal ports in Ka-
limantan on the island of Borneo
on Wednesday, according to Re-
finitiv Eikon data.
The ministry said in the state-
ment on Thursday that mining
companies that had met their
sales contract with PLN and 100%
of their DMO requirements for
2021 would now be allowed to
begin exporting.
Miners that had not fulfilled
their PLN contracts and DMO
would face fines, it said.
Citi in a research note on Jan.
5 estimated around 490 out of
631 coal miners in the country
had not yet fulfilled their DMO
obligation. These 490 coal min-
ers represent about 35%-40% of
Indonesia’s total production, it
added.
According to minutes of a
meeting between miners and the
trade ministry earlier this month,
418 miners did not sell any of their
coal to local generators last year.
Indonesia’s two largest coal
groups, PT Bumi Resources and
Adaro Energy, as well as state coal
miner Bukit Asam, were among
companies who said in stock
exchange filings they have met
DMO requirements.
Bumi Resources direc-
tor Dileep Srivastava said on
Thursday said the company was
awaiting formal confirmation
from the government but said
an easing would be a positive
development.
An Adaro spokesperson said
its ships were yet to leave port as
of Thursday morning. — Reuters
sanctions over N.Korea
weapons program
WASHINGTON — The Biden admin-
istration on Wednesday imposed its
first sanctions over North Korea’s
weapons programs following a series
of North Korean missile launches,
including two since last week.
The sanctions targeted six North
Koreans, one Russian and a Russian
firm Washington said were respon-
sible for procuring goods for the
programs from Russia and China.
The US Treasury said the steps
aimed both to prevent the advance-
ment of North Korea’s programs and
to impede its attempts to proliferate
weapons technologies.
The United States also proposed
that five of those individuals also be
blacklisted by the United Nations
Security Council, which would need
consensus agreement by the body’s
Sim Kwang Sok, based in Dalian,
had worked to procure steel alloys
and Kim Song Hun, who was based
in Shenyang, software and chemi-
cals, Treasury said.
In a statement, US Secretary of
State Anthony Blinken said that be-
tween at least 2016 and 2021, O Yong
Ho had worked with Parsek LLC and
Alar, the firm’s director for develop-
ment, to procure multiple goods
with ballistic missile applications,
including Kevlar thread, aramid fiber,
aviation oil, ball bearings, and preci-
sion milling machines.
ROCKET FUEL MIXTURES
Mr. Blinken said Alar also provided O
Yong Ho with instructions for creat-
ing solid rocket fuel mixtures.
“The procurement and supply

Prince Andrew must face sex 15-member North Korea sanctions

committee.
The administration of US Presi-
relationship between O Yong Ho,
Roman Anatolyevich Alar, and
Parsek LLC is a key source of missile-

abuse accuser’s lawsuit — judge dent Joseph R. Biden has sought

NEW YORK — Britain’s Prince Andrew
failed to persuade a US judge to dismiss Vir-
ginia Giuffre’s lawsuit accusing the Duke of
York of sexually abusing her when she was
a teenager.
In a decision made public on Wednesday,
REUTERS US District Judge Lewis Kaplan said Ms.
A PERSON stands in front of a Canadian flag in Montreal, Giuffre, 38, could pursue claims that Prince
Quebec, Canada, Sept. 20. Andrew battered her and intentionally
caused her emotional distress while the late
unsuccessfully to engage Pyongyang
in dialogue to persuade it to give up
Ms. Giuffre’s claims against Andrew have its nuclear bombs and missiles since
not been proven, and the prince is not ac- taking office in January last year.
cused of criminal wrongdoing. US State Department spokesman
The case and Andrew’s ties to Mr. Epstein Ned Price said the United States
have nevertheless damaged the prince’s remained committed to pursuing
reputation and cost him many royal duties. diplomacy with North Korea.
Andrew’s troubles grew after critics said he “What we have seen in recent
failed in a 2019 BBC interview to appear sym- days ... only underscores our belief
pathetic toward Mr. Epstein’s abuse victims. that if we are going to make prog-
A spokesman for Buckingham Palace de- ress, that we will need to engage
applicable goods and technology
for the DPRK’s missile program,” his
statement said.
It also said O Yong Ho had
worked to procure items including
aramid fiber, stainless steel tubes
and ball bearings from “third coun-
tries” it did not name.
North Korea’s U.N. mission, Rus-
sia and China’s embassies in Wash-
ington and the Russian firm did not
respond to requests for comment.
North Korean media said leader

Quebec tax on financier Jeffrey Epstein was trafficking her.

The Manhattan judge said it was pre-
mature to assess Andrew’s efforts to “cast
clined to comment on Mr. Kaplan’s decision.
Mr. Epstein killed himself at age 66 in
a Manhattan jail cell in Aug. 2019 while
in that dialogue,” he told a regular
news briefing.
The Treasury Department said
Kim Jong Un observed the test of a
hypersonic missile on Tuesday, the
second in less than a week after he

unvaccinated may doubt” on those claims, though the 61-year-

old prince could do so at a trial.
Mr. Kaplan said it was also too soon to
awaiting trial on sex trafficking charges.
Ms. Maxwell, 60, was convicted on Dec.
29 of recruiting and grooming girls for Mr.
the sanctions followed six North Ko-
rean ballistic missile launches since
vowed in a New Year speech to bol-
ster the military with cutting-edge

be lawful but sets

September, each of which violated technology.
decide whether Ms. Giuffre’s 2009 civil settle- Epstein to abuse between 1994 and 2004. U.N. Security Council resolutions. Tuesday’s test came hours after
ment with Mr. Epstein “clearly and unambig- She is seeking a new trial after one juror Under Secretary of the Treasury the US mission to the United Nations,

risky precedent
TORONTO — A proposal by Quebec to tax unvaccinated
people may be lawful but may also go against the spirit of
Canada’s universal public health system, rights and medical
experts said on Wednesday.
Tuesday’s surprise announcement by the province’s
premier, Francois Legault, came with few details.
While his government would not say Wednesday how the
tax would be levied, when or against whom, Canada’s Civil
Liberties Association said it could violate Canadians’ fun-
damental rights, while health advocates expressed concern
about its broader implications.
“I’ve not seen anything like this in Canada before. I’m
worried about the precedent it would set,” said Danyaal Raza,
a doctor with Unity Health in Toronto and former chair of
Canadian Doctors for Medicare.
Quebec, Canada’s second-most populous province, is
struggling with surging COVID-19 hospitalizations, and Mr.
Legault noted that the province’s relatively small unvacci-
nated population was represented disproportionately among
the hospitalized.
Facing a provincial election in October, his government’s
response to the pandemic thus far has met with approval
from 65% of Quebeckers surveyed, according to a Leger poll
released this week.
But the province’s public health director stepped down
earlier this week, prior to the tax plan announcement, citing
an “erosion” of public trust in anti-pandemic measures.
Asked on Wednesday about the plan, Prime Minister
Justin Trudeau said he “received that proposal with interest”
but would not weigh in on it, saying he needed more details.
Canada’s public health system is underpinned by the
Canada Health Act, meant to guarantee universality and
accessibility, among other things. It precludes user fees for
insured services.
Quebec’s tax could be framed as a “sin tax” similar to that
placed on alcohol and cigarettes or as a tax on a health risk
factor like private insurers charge, Mr. Raza said.
As such, it might not violate Canada’s Health Act but that
did not mean it was a good idea, he said.
Cara Zwibel, acting general counsel for the Canadian Civil
Liberties Association, said it might however violate Canada’s
Charter of Rights and Freedoms if viewed as “a way of com-
pelling people to get vaccinated.”
It was not clear if the tax’s goal is to convince more
people to get vaccinated or to finance health care, she said.
McGill University biomedical ethicist Phoebe Friesen
was concerned the logic of taxing unvaccinated people
could be extrapolated to other behaviors seen as driving
health spending — obesity, for example — but that are tied
to marginalization.
“If you want to be consistent and logical, you should
charge all sorts of people for their hospitalization if it’s based
on behavior that they’re ‘responsible’ for,” she said “... And
it’s incredibly tricky to figure out what that looks like.” —
Reuters
uously” shielded Andrew from her lawsuit. told media, including Reuters, that during for Terrorism and Financial Intel- joined by Albania, France, Ireland,
The judge did not address the merits of jury deliberations he had discussed being a ligence Brian Nelson said the moves Japan and the United Kingdom,
Ms. Giuffre’s claims. victim of sexual abuse. targeted North Korea’s “continued condemned last week’s launch and
Lawyers for Andrew did not immediately use of overseas representatives to called on U.N. states to fulfill sanc-
respond to requests for comment. ‘MUDDLED’ SETTLEMENT illegally procure goods for weapons.” tions obligations.
David Boies, a lawyer for Ms. Giuffre, in In his 44-page decision, Mr. Kaplan said the North Korea’s latest launches U.N. resolutions ban North
a statement said his client was pleased, and “muddled” language in Ms. Giuffre’s and Mr. Ep- were “further evidence that it Korean ballistic missile and nuclear
“looks forward to a judicial determination” stein’s settlement agreement suggested they may continues to advance prohibited tests and impose sanctions.
of the merits of her claims. have reached “something of a middle ground.” programs despite the international Anthony Ruggiero, a sanctions
Andrew, the second son of Queen Eliza- The settlement included language to “for- community’s calls for diplomacy and expert in the former Trump admin-
beth, has denied Ms. Giuffre’s accusations ever discharge” various people who “could denuclearization,” Mr. Nelson said in istration that failed to persuade
that he forced her to have sex more than two have been included as a potential defendant” a statement. Mr. Kim to roll back his nuclear
decades ago at a London home of former in Ms. Giuffre’s lawsuit against Mr. Epstein. It said the State Department program despite unprecedented
Epstein associate Ghislaine Maxwell, and “We do not know what, if anything, went had designated Russia-based North engagement, called the new sanc-
abused her at two Epstein properties. through the parties’ minds” when drafting Korean Choe Myong Hyon, Russian tions “a good start.”
Mr. Kaplan’s decision keeps the case on the settlement, Mr. Kaplan wrote. national Roman Anatolyevich Alar However, he said the Biden
track for a trial that he has said could begin Ms. Giuffre and Andrew “have articulat- and the Russian firm Parsek LLC for administration had allowed a
between September and Dec. 2022 if no ed at least two reasonable interpretations of “activities or transactions that have reversal of sanctions pressure and
settlement were reached. the critical language,” the judge continued. materially contributed to the prolif- added: “Biden needs to continue the
“The agreement therefore is ambiguous.” eration of weapons of mass destruc- designations to increase the pressure
URGENCY TO SETTLE Settlement agreements can restrict tion or their means of delivery.” on the Kim regime.”
Sarah Krissoff, a partner at Day Pitney and a plaintiffs like Ms. Giuffre from pursuing It said Choe Myong Hyon, a Price did not respond when
former federal prosecutor, said the decision further litigation, even against third parties. Vladivostok-based representative asked why no Chinese individuals or
made it more likely Andrew would pursue Mr. Kaplan also rejected Andrew’s claim of North Korea’s Second Academy entities were targeted, or specifically
an out-of-court settlement. that letting Ms. Giuffre sue violated his due of Natural Sciences (SANS), had when asked if China and Russia were
“I can’t imagine that Prince Andrew process rights under New York’s constitution. worked to procure telecommunica- doing enough to enforce sanctions,
wants every detailed allegation to come Ms. Giuffre sued Andrew last August, less tions-related equipment from Russia. but stressed the importance of all
out in the public realm,” she said. “If I were than a week before the expiration of a state Four China-based North Korean U.N. states doing so, while adding:
on Prince Andrew’s team, I most certainly law giving accusers a two-year window to sue representatives of SANS-subordinate “Obviously we’ve not seen all of
would be having a discussion with him right over alleged child abuse occurring long ago. organizations — Sim Kwang Sok, that.”
now about resolving this case.” Mr. Kaplan called that window, which Kim Song Hun, Kang Chol Hak and Wednesday’s actions freeze any
In the 2009 settlement, Mr. Epstein paid was extended by a year because of the CO- Pyon Kwang Chol — and one other US-related assets of those targeted
Giuffre $500,000, without admitting liability, VID-19 pandemic, “a reasonable measure Russia-based North Korean, O Yong and prohibit all dealings with them.
to end her Florida lawsuit accusing him of for remedying injustice to victims” of child Ho, were also targeted. — Reuters
sexually abusing her when she was underage. sex abuse. — Reuters
GIR, Duplication,
from S1/ 1 from S1/ 1
Having an ample level of The country’s gold reserves and rather focus on capacitating and monitoring well-performing LGUs in their sectors,” DBM said.
foreign exchange buffers safe- were valued at $9.332 billion as the LGUs and shift to addressing emerging national “Agency programs to be implemented by LGUs shall
guards an economy from market of end-2021, higher by 3.7% than program concerns,” DBM said. have been coordinated with the targeted LGUs as to
volatility and is an assurance of the $9 billion a month earlier but This should be consistent with strategies that the resource availabilities and should be responsive
the country’s capability for debt falling by 19.6% from the $11.605 agencies outlined in their devolution transition plans, to local and regional needs.”
repayment in the event of an billion as of end-2020. the department added. The Finance department has said the Supreme
economic downturn. The Philippines’ reserve posi- The Supreme Court’s Mandanas ruling is named Court’s Mandanas ruling would lead to lower
The BSP earlier said that they tion in the International Mon- after Batangas Governor Hermilando I. Mandanas economic growth because the higher tax allocation
expect lower GIR than previ- etary Fund (IMF) increased by who successfully challenged the government’s for local government units would dampen spending
ously anticipated amid the “use 2.5% month on month to $801.6 previous position that LGUs were entitled to a smaller efficiency.
of reserves to pay foreign cur- million, but fell by 1.4% from the share of National Government funds. Meanwhile, Institute for Leadership, Empower-
rency obligations and various $813.1 million from a year ago. — Starting this year, LGUs get a bigger share of the ment, and Democracy (I-LEAD) Executive Director
expenditures.” Luz Wendy T. Noble National Government’s tax collections, alongside the Zy-za Nadine Suzara said spending inefficiencies
As of end-December, reserves transfer of basic services. by LGUs will not deter economic growth because a
in the form of foreign investments FULL STORY DBM in the memorandum said regional needs are ex- greater bulk of the budget remains with the National
edged up 0.26% to $91.748 billion Read the full story by scanning pected to be prioritized in national plans. At the same time, Government.
from $91.505 billion as of end-No- the QR code with your regional plans should be aligned with set national priorities. The 2023 budget will include only implementation-
vember. This was 2% down from smartphone or by typing the link “Regional agency programs must also be respon- ready agency proposals to improve efficiency in deliver-
<bit.ly/GIR011422>
the $93.644 billion seen a year ago. sive to the needs of the poorest, disadvantaged but ing public services, DBM said. — Jenina P. Ibañez
10/S1
World
Sports
Coronavirus takes its toll on Filipino athletes
THE coronavirus disease 2019
(COVID-19) pandemic has taken
its toll on Filipino sports people.
Tokyo Olympics weightlift-
ing gold medalist Hidilyn F. Diaz
and mixed martial arts (MMA)
fighters Jeremy Miado and Robin
Catalan all recently tested posi-
tive for the global health malady
and were undergoing quarantine.
“Kahit po ako nag-positive na po.
Ingat po tayong lahat. Magpalakas
at sundin lahat ng health protocols
(I, too, tested positive. Take care
everyone. Get stronger and follow
all health protocols),” said Ms. Diaz
on her Instagram account where
she also posted her test result.
Good thing Ms. Diaz, who has
trained her sights for a second
Olympic gold in the 2024 Paris
Games, got her booster shot in
Quezon City on Jan. 4.
For Messrs. Miado and Cata-
lan, both strawweights, they were
taken out of the “ONE: Heavy Hit-
Japan B.League
All-Star goes
online today
FILIPINO basketball stal-
warts in Japan get a chance
to still strut their stuff as the
B.League goes online for its
canceled All-Star festivities
starting today in Okinawa.
Kiefer Ravena of the Shiga
Lakestars lead the cast of local aces
to be featured in a virtual show at
6 p.m. (Manila time) in place of
the actual All-Star Game and side
events at the Okinawa Arena.
Included in the two-day event
is a meet-and-greet via Zoom
with Filipino and other fans from
Indonesia, South Korea, China
and Chinese Taipei.
Joining Kiefer in the alterna-
tive All-Star event are Thirdy
Ravena (San-en), Ray Parks,
Jr. (Nagoya), Dwight Ramos
(Toyama), Kobe Paras (Niigata),
Kemark Cariño (Aomori Wat’s),
Javi (Ibaraki) and Juan Gomez de
Liaño (Earthfriends Tokyo Z).
They were supposed to banner
the B.League Asia All-Star along
with other Asian imports led by
Indonesian Brandon Jawato (Ut-
sunomiya), Korean Yang Jae-min
(Shinshu) and Jin Liu of China
(Nishinomiya).
All players are under the Asian
Player Quota as part of B.League’s
new program aimed at raising
the level of play in Japan and the
Asian region.
The Asia All-Star were sched-
uled to play the Rising Stars made
up of promising locals including
Matthew Aquino (Shinshu), who
is not considered as an import
due to his Japanese heritage.
The B.League last week called
off the All-Star Game slated for
this weekend in Okinawa along
with other regular season games
last week following a spike in
coronavirus disease 2019 (CO -
VID-19) cases among the players.
— John Bryan Ulanday
FIL-AM
MJ Philips
Ben Simmons, Philadelphia Sixers meet anew, but status unchanged
REPRESENTATIVES for Ben Simmons
and the Philadelphia 76ers had a brief
sitdown on Wednesday but there was
no change in position on either side,
ESPN reported.
FRIDAY, JANUARY 14, 2022
ONE CHAMPIONSHIP
HIDILYN DIAZ FB
(LEFT TO RIGHT) MIXED MARTIAL arts fighter Jeremy Miado, Tokyo Olympics gold medalist Hidilyn Diaz, and MMA fighter
Robin Catalan all recently tested positive and were undergoing quarantine.
ters” card slated for tonight at the The three were among Fili-
Singapore Indoor Stadium. pino athletes and sports per-
Messrs. Miado (10-4) and Cat- sonalities who recently caught
alan (9-7) were supposed to clash t he v i r u s, a mong t hem a re
with Senzo Ikeda (12-6-1) and Eli- volleyball star A lyssa Valdez
pitua Siregar (4-1), respectively, of Creamline, Beach Volleyball
before it was both scrapped. Republic founder Cha ro So-
WORLD No. 6 pole-
vaulter EJ Obiena
Surgery successful, says
pole-vaulter EJ Obiena
“DOWN but not out.” and all the people who helped
Filipino world No. 6 pole-vault- finance the operation.
er Ernest John “EJ” Obiena posted “Thank you very much to ev-
these words on his Facebook ac- eryone who helped and supported
count right after his operation to me to make this surgery possible.
repair a minor meniscus tear on his I am also thankful to (Philippine
left knee went well on Wednesday. Sport Commission) chairman
“Surgery was successful,” Butch Ramirez for announcing
said the 26-year-old Mr. Obiena. yesterday (Tuesday) that funds
“They have cleaned the meniscus for my surgery are available,” said
and have removed the screw on Mr. Obiena.
my knee from the ACL (anterior “I may be able to use this
cruciate ligament) reconstruc- money once available to me to
tion back in 2017 as the bone graft reimburse the advances of good
has fully solidified.” Samaritans,” he added.
The Olympian and Asian re- Mr. Obiena did not mention
cord-holder is optimistic he will though if he will sign the PSC
recover in time for a meet late mediation papers that would
this month. help resolve the issue concerning
“It shouldn’t affect my recov- him and the Philippine Athletics
ery and we’re still on and aiming Track and Field Association.
for my 28th of January competi- But he vowed to reach greater
tion,” he said. heights this year.
Mr. Obiena thanked the Phil- “My most immediate task
ippine Sports Commission (PSC) is to get healthy and get back
Petro Gazz Angels upgrade
roster, ink Fil-Am MJ Philips
PETRO Gazz Angels revamped its
roster with an aim of acquiring play-
ers with more experience and power.
They got what they asked for
and more.
The Angels picked up a power-
hitting Fil-American in MJ Philips
and grizzled veterans Aiza Maizo-
Pontillas and Bang Pineda that
should beef their roster after let-
ting go nine of their players from
last season.
All three came from Sta. Lucia
Realty, which took a leave early
this month.
“Established names in the in-
dustry, all gassed up to give us ex-
citing games ahead,” said the team
MJ PHILIPS FB in its social media account.
The All-Star guard demanded a trade President of basketball operations
during the offseason, but the 76ers Daryl Morey and general manager Elton
(23-16) are holding firm that any deal Brand huddled with Klutch Sports CEO
shipping Simmons out of Philly must Rich Paul, ESPN reported, with the NBA
bring an equal caliber player in return. trade deadline one month away. Sources
EDITOR FRANCISCO P. BALTAZAR
OPINION
Hero or heel
T
ONE CHAMPIONSHIP
he Novak Djokovic saga continues, and not just because Austra-
lian Minister for Immigration Alex Hawke continues to have
the discretion to exercise his “personal power of cancelation” of
the visa issued to the tennis player. As things stand, it hangs like a Da-
mocles sword over the head of the latter, who seems to have been given
extraordinary leeway by Tennis Australia officials in the processing of
his medical exemption. Moreover, latest developments raise questions
about the information on which said exemption is predicated.
Through it all, Djokovic is hellbent on competing in the Austra-
lian Open. On one hand, his determination reflects the foundation
of his competitiveness on the court; even with the crowd almost al-
ways against him in the grand-
est stages of the sport, and
COURTSIDE even as circumstances seem
ANTHONY L. CUAYCONG to place him at a disadvantage,
he manages to time and again
snatch victories from the throes of disappointment. On the other,
it also underscores his seeming detachment from reality; he’s an
riano, and Premier Volleyball anti-vaxxer who appears to lend credence to conspiracy theories,
League president Ricky Palou. overwhelming scientific evidence to the contrary notwithstanding.
The PBA also postponed their If there’s anything Djokovic’s insistence on staying where he isn’t
games indefinitely after several welcome shows, it’s that he has blinders on perennially. And wears
of its players, coaches and team these proudly. He cares a lot about public adulation, but wants it on
members got COVID-19. — Joey his terms. And if things don’t go his way, he actually wonders why; the
Villar reasons, however valid, are lost on him. Which is to say the foundation
of his greatness likewise informs his public intransigence. He’s not one
without the other — a hero to some, a heel to others.
There can be no questioning the accomplishments Djokovic
has carved with a racket in his hands. At the same time, it’s fair to
wonder if his other actions wipe the luster off his resume. He’s not
merely a player, but a citizen of the world. In fact, he bears even
more responsibility to be aware of his influence given his status, and
use it for the greater good. The end never justifies the means, and it’s
not too late for him to understand why.
ANTHONY L. CUAYCONG has been writing Courtside since
BusinessWorld introduced a Sports section in 1994. He is a consultant
on strategic planning, operations and Human Resources management,
corporate communications, and business development.
Tennis world no. 1 Djokovic
included in Aussie Open
draw; visa decision looms
ATHLETISSIMA LAUSSANE
REUTERS
MELBOURNE — Tennis world
No. 1 Novak Djokovic was in-
cluded in the Australian Open
official draw on Thursday, al-
though uncertainty remained
about whether the government
will cancel the top seed’s visa for
a second time.
Immigration Minister Alex
EJ OBIENA - ERNEST OBIENA FB
Hawke is weighing exercising his
discretionary power to revoke
Djokovic’s visa over concern
about the star’s medical exemp-
tion from Australia’s coronavirus
disease 2019 (COVID-19) vacci-
nation requirements.
The 34-year-old defending TENNIS world No. 1 Novak Djokovic
champion, who was out practicing
at the Rod Laver Arena earlier on MISTAKES MADE
Thursday, drew unseeded fellow Djokovic’s cause was not helped by a
Serb Miomir Kecmanović for his mistake in his entry declaration, on
opening round match, expected to which a box stating he had not trav-
be played on Monday or Tuesday. eled abroad in the two weeks prior
AN image posted by Filipino world Organizer Tennis Australia to leaving for Australia was ticked.
No. 6 pole-vaulter EJ Obiena on his had delayed the official draw In fact, he had gone to Spain
Facebook account right after his for more than an hour, without from Serbia.
successful knee operation. saying why. Djokovic, 34, attributed the er-
The controversy has assumed ror to his agent and acknowledged
on track so that I can compete an importance that goes beyond he also should have rescheduled
again for the country. Every- tennis: it has intensified a global an interview and photoshoot for
thing else is priority number 2. debate over the rights of the un- a French newspaper on Dec. 18
Time for work to be done,” he vaccinated and become a tricky while infected with COVID-19.
said. — Joey Villar political issue for Prime Minister Fans, including many Serbian
Scott Morrison as he campaigns Australians, gave him noisy sup-
for re-election. port when he was detained. Anti-
Australia is due to hold an elec-
tion by May, and while Morrison’s
vaxxers have hailed him as a hero
and his family have portrayed him
government has won support at
home for its tough stance on bor-
der security before and during
as a champion of individual rights.
But Djokovic may face hostil-
ity from the crowd if and when he
Ms. Philips, 26, should pro- the pandemic, it has not escaped walks out on court.
vide more scoring after emerg- criticism over the botched han- There is widespread anger over
ing as one of the league’s best dling of Djokovic’s visa. the saga among Australians, who
scorers in last year’s bubble in Morrison declined to comment have a 90% vaccination rate among
Bacarra, Ilocos Norte, while Ms. on Djokovic’s visa on Thursday. adults after enduring some of the
Maizo-Pontillas, an opposite Djokovic, a vaccine skeptic, world’s longest lockdowns aimed at
hitter, and Ms. Pineda, a libero, fueled widespread anger in curbing the pandemic.
should prov ide stabilit y a nd Australia last week when he an- Crowds at the Open’s main
leadership to a team seeking to nounced he was heading to Mel- arenas will be capped at 50%
improve on a third place finish a bourne for the Australian Open capacity and masks will be man-
year back. with a medical exemption from datory for all spectators under
Petro Gazz also signed Nicole requirements for visitors to be updated COVID-19 restrictions
Tiamzon, Cienne Cruz, Djanel inoculated against COVID-19. announced on Thursday as au-
Cheng, Jonah Sabete and Yeye On his arrival, Australian Bor- thorities battle a surge of cases
Gabarda the past week. der Force officials decided his caused by the Omicron variant.
They will join the crisp-spiking exemption was invalid and he was “I don’t like his arrogance,”
troika of Myla Pablo, Gretchel held alongside asylum-seekers at Teyhan Ismain, a Melbourne resi-
Soltones and Remy Palma. — an immigration detention hotel dent, said on Wednesday. “It does
Joey Villar for several days. seem that he’s been telling a few
A court on Monday allowed fibs too. So I think he should just
him to stay on the grounds that probably go back.”
officials had been “unreasonable”
in the way they handled his inter-
There may also be resentment
in the dressing room, where all
view in a seven-hour process in but three of the top 100 men are
told ESPN the meeting took place at a the middle of the night. inoculated.
Philadelphia restaurant and Morey in- The government must now Tennis great Martina Navra-
formed Paul any trade must improve the decide whether to let Djokovic tilova told Australian television
76ers. ESPN reported the asking price for remain and bid for a record 21st Djokovic should “suck it up” and
Simmons has increased. — Reuters major title. return home. — Reuters
EDITOR FRANCISCO P. BALTAZAR FRIDAY, JANUARY 14, 2022 World Business S1/11

US inflation shows more staying

power after hitting 7% in 2021
US consumer prices are likely
to extend their eye-popping
gains after soaring last year by
the most in nearly four decades,
further burdening Americans
and ramping up pressure on
policy makers to act.
The consumer price index
(CPI) climbed 7% in 2021, the
largest 12-month gain since
June 1982, according to Labor
Department data released
Wednesday. The widely fol-
lowed inflation gauge rose a
faster-than-expected 0.5%
over the month. Investors took
a relatively sanguine view of
the data, which were broadly in
line with expectations.
Though many economists
anticipate inflation to mod-
erate to around 3% over the
course of 2022, consumers
are likely months away from
a meaningful respite, espe-
cially as the Omicron variant
of the coronavirus worsens
labor shortages and prevents
goods from reaching store
shelves.
If signs fail to materialize
that inflation is moderating,
Federal Reserve policy mak-
ers could be forced to embark
on a steeper path of interest-
rate hikes and balance-sheet
shrinkage. It would also make it
even tougher for President Jo-
seph R. Biden and Democrats
to retain their congressional
majorities in November’s mid-
term elections or pass their
tax-and-spending package.
The report did offer some
comfort to American families.
Energy prices fell last month
for the first time since April,
and food prices — while still ris-
ing — moderated somewhat as
the cost of meat fell. Mr. Biden
said that reflected “progress”
from his administration, while
acknowledging there’s more
work to be done.
Workers’ wages are simply
not keeping up. Despite a slew
of robust pay raises last year
as businesses sought to fill a
multitude of open positions,
inflation-adjusted wages were
down 2.4% in December from a
year earlier.
Whether inflation falls as
expected will depend on sup-
ply chains normalizing and
energy prices leveling off. How-
ever, higher rents, robust wage
growth, subsequent waves of
COVID-19 and lingering sup-
ply constraints all pose upside
risks to the inflation outlook.
Omicron is poised to further
disrupt already-fragile supply
chains, due in part to quaran-
tines and illness that have pre-
vented many people from work-
ing. It’s also curbed demand for
services like dining out.
Last year, the increase in
the CPI was largely due to high
goods inflation. Excluding food
and energy, the agency’s price
index of goods surged 10.7% last
year, the largest 12-month ad-
vance since 1975. Services costs
climbed 3.7%.
Shelter costs, which were
already one of the largest con-
tributors to December’s gain,
are expected to accelerate
this year, offering an endur-
ing tailwind to inflation. Other
gauges of home prices and
rents surged last year, but the
full extent of those increases
has yet to be reflected in the
government’s measure. —
Bloomberg
Metals traders are bracing for
the next major supply squeeze
INDUSTRIAL metal markets are
marching higher again, as pro-
duction outages and shrinking
inventories revive worries about
global supplies of some of the key
building blocks of the economy
and the green-energy transition.
Metals from aluminum to zinc
surged in 2021 after the pandemic
hit production at mines and
smelters, wreaked chaos in global
logistics networks, and sparked a
boom in demand. In both copper
and tin, London Metal Exchange
(LME) inventory levels collapsed
in squeezes that drove spot prices
to records in wild trading.
Traders are now zeroing in on a
fresh wave of threats to supply and
signs of shrinking stockpiles. Nick-
el futures surged to the highest
in a decade this week and a jump
in the premium for immediately-
available metal is raising concerns
about a looming supply squeeze.
Zinc and aluminum production
has been throttled in Europe by an
ongoing energy crisis, while metal
plants in China are getting caught
up in the drive to ensure blue skies
for the Winter Olympics.
Just about any product, manu-
facturing process or piece of infra-
structure around the world relies
on base metals to some degree.
Rising prices and shrinking sup-
plies will add to cost inflation for
manufacturers and consumers, as
well as governments as they roll
out infrastructure spending in
the wake of the pandemic.
“We are at critical levels of
inventory around the world, and
prices are starting to move to
reflect that,” Jeremy Weir, chief
executive officer of trading giant
Trafigura Group said at a confer-
ence on Wednesday. “We are start-
ing to see consumers wake up and
recognize the problems that exist.”
From a collapse in zinc pro-
duction to a bull run in Chinese
nickel, here are some of the big
trends that traders and analysts
are watching in metals markets:
NICKEL SQUEEZE?
After dramatic squeezes in tin
and copper last year, dwindling
inventories and surging spot
prices suggest that nickel could
be next in line.
Stockpiles in warehouses
tracked by the LME have fallen
for 51 straight days — the longest
run of declines since 2000 — and
the spread between cash and
three-month futures prices sig-
nals that buyers are scrambling to
get hold of the remaining metal.
The last time inventories and
backwardations were at these lev-
els was in 2019, when top supplier
K. DETH
Tsingshan drew down reserves so
dramatically that it prompted an
investigation by the LME.
This time, supply conditions
are also worsening on the Shang-
hai Futures Exchange, with dwin-
dling inventories creating the
risk of a simultaneous squeeze in
onshore and international mar-
kets. Chinese traders are already
piling in, with open interest in
Shanghai Futures Exchange nickel
contracts more than tripling since
lows seen in November, helping to
drive prices more than 10% higher
over the period. LME nickel prices
rose as much as 4.4% to $22,745
a ton on Wednesday, hitting the
highest since Aug. 2011.
“The message is: if you’re al-
ready long, congratulations,”
Oliver Nugent, a metals analyst
at Citigroup, Inc., said by phone
from London. “If you want to go
short, I’d commend your bravery.”
In both zinc and aluminum,
production has been hit particu-
larly hard by the surge in European
energy prices, setting the stage for
rapidly deepening deficits.
European LME storage depots
are now virtually empty, and buy-
ers are paying increasingly steep
premiums over futures to secure
spot metal in the region — point-
ing to a growing shortage.
While the copper market has
eased since October’s unprec-
edented squeeze, bulls argue that
the tight supply conditions that
helped spark last year’s rally to
record highs are far from over. A
long-awaited boom in demand in
renewables and electric-vehicles
will help support prices and any
sign that mine production is fall-
ing short of expectations could
spark further rallies.
Shanghai Futures Exchange
copper inventories are near
their lowest level since 2009,
raising the risk of a squeeze in
China’s onshore copper mar-
ket, similar to that seen in the
international market last year.
Goldman Sachs Group, Inc. sees
prices rising to $12,000 a ton
within 12 months, up from about
$10,000 currently.
“We’re seeing rising challeng-
es to bring that supply into the
future, whether it’s falling grades,
more remote locations, riskier
countries, access to water, or ac-
cess to people,” BlackRock, Inc.’s
Evy Hambro said in an interview
with Bloomberg TV Wednesday.
“During a period where there is a
gap between supply and demand
and large deficits and low inven-
tories, any destruction is going to
play out in some fairly explosive
price moves.” — Bloomberg
12/S1
The
Nation FRIDAY, JANUARY 14, 2022 EDITORS MARIFI S. JARA, NORMAN P. AQUINO

Philippines posts record coronavirus infections

THE PHILIPPINES posted
34,021 coronavirus infections
on Thursday — a fresh record
— while active cases reached
237,387, also the highest since the
pandemic started.
This brought the total to 3.09
million, while the death toll in-
creased by 82 to 52,736, the De-
partment of Health (DoH) said
in a bulletin. Recoveries rose by
4,694 to 2.8 million.
The agency said 47.9% of
78,866 samples on Jan. 11 tested
positive for coronavirus disease
2019 (COVID-19), way above the
5% threshold set by the World
Health Organization (WHO).
Of the active cases, 7,332 did
not show symptoms, 225,408
were mild, 2,881 were moderate,
1,468 severe and 298 were critical.
DoH said 98% of the latest cas-
es occurred from Dec. 31 to Jan.
13. The top regions with new cases
in the past two weeks were Metro
Manila with 16,793, Calabarzon
with 7,131 and Central Luzon
with 3,745 infections. It added
that 45% of deaths occurred in
January, 6% in December, 2% in
November and 7% in October.
It said 246 duplicates had been
removed from the Thursday tally,
180 of which were reclassified as re-
coveries, while 44 recoveries were
relisted as deaths. Seven laborato-
ries failed to submit data on Jan. 11.
DoH said 45% of intensive care
unit beds in the country had been
used, while the rate for Metro Ma-
nila was 58%.
The country is struggling to
contain a fresh spike in infections
spurred by the highly mutated
Omicron variant.
The Health department has
shortened the quarantine and isola-
tion periods for coronavirus-strick-
en people who are fully vaccinated.
Fully vaccinated people with
mild or who don’t show symptoms
should be isolated for seven days,
down from 10 days, Health Under-
secretary Maria Rosario S. Vergeire
told an online forum on Wednes-
day streamed on Facebook.
The quarantine period for
fully vaccinated close contacts
who don’t show symptoms was
also cut to five from seven days,
she said. Unvaccinated or par-
tially inoculated contacts must be
quarantined for two weeks. The
10-day isolation period partially
vaccinated and unvaccinated
people remains.
Ms. Vergeire said regardless
of vaccination status, people
with moderate symptoms should
get quarantined for 10 days. She
added that DoH kept the 21-day
isolation for severe and critical
cases, and people whose immune
system had been compromised.
RISKS AND BENEFITS
DoH modified the quarantine rules
after it allowed hospitals to cut the
quarantine and isolation periods
for fully vaccinated health workers.
Ms. Vergeire said hospitals
could shorten to five days the iso-
lation period for fully vaccinated
health workers who have received
booster shots “upon careful as-
sessment of benefits and risks.
She said fully vaccinated medical
frontliners who have been exposed
to positive individuals should get
quarantined for five days.
She said the recommendations
were updated because different
guidelines travelers, the public
and specific sectors had caused
confusion.
“Prolonged quarantine and
isolation duration has been caus-
ing a strain on our healthcare sys-
tem and our economy,” Ms. Ver-
geire said. “Our experts believe
that specifically for the Omicron
variant, the benefits of shortening
quarantine outweigh the risks.”
Health Secretary Francisco
T. Duque III on Wednesday said
deaths and hospitalizations were
lower than during the surge
spurred by the Delta variant.
The number of deaths contin-
ues to go down because severe
and critical cases were lower,
preventing hospitalizations and
deaths, he told an online forum.
Mr. Duque noted that based
on their study of 8,500 hospital
admissions, there were only about
700 severe cases.
WHO Director-General Tedros
Adhanom Ghebreyesus earlier
noted that while the highly mu-
tated Omicron variant appears to
be less severe than Delta, it should
not be categorized as mild.
“Just like previous variants,
Omicron is hospitalizing people
and it’s killing people,” he said on
Jan. 6, based on an article pub-
lished by The Tampa Bay Times.
Omicron might soon become
the dominant coronavirus strain
in the country, replacing Delta,
WHO representative to the Phil-
ippines Rabindra Abeyasinghe
separately told a televised news
briefing on Wednesday.
He said Omicron is dominant
based on a recent sequencing of
samples collected from the Na-
tional Capital Region (NCR) and
returning overseas Filipinos. This
was inconclusive since the coun-
try has few sequencing results
from the other regions, he added.
Omicron had now dominated
Philippine coronavirus infections,
Mr. Duque said on Tuesday, cit-
ing the latest genome sequencing.
He said 60% of the samples were
positive for the Omicron variant.
— Kyle Aristophere T. Atienza

Lawmakers reject
transport ban on
unvaccinated
By Alyssa Nicole O. Tan, Reporter
SENATORS on Thursday rejected a government plan to
ban unvaccinated people from public transportation in
the National Capital Region.
“There should be no discrimination among the rid-
ing public,” Senate President Vicente C. Sotto III said
in a statement. “Instead of barring them from riding
public transports, the Department of Transportation
should come up with brighter ideas on how to protect
the unvaccinated from the deadly virus.”
The senator said the government has a duty
to serve people who don’t want to get vaccinated
against the coronavirus. Some coaches or buses
should be reserved for unvaccinated riders, he added.
Transportation Undersecretary Artemio U. Tuazon, Jr.
on Tuesday issued an order limiting public transportation
access to unvaccinated people in the capital region.
Senator Francis N. Pangilinan said the government
should incentivize rather than penalize the unvacci-
nated because they have a choice to refuse vaccines.
Senator Emmanuel Joel J. Villanueva noted that
aside from incentives, educating people about the ben-
efits of vaccines should be a top government priority.
“An all-out ban on unvaccinated individuals
in public transportation — with little to no viable
alternative options — will only create resentment and
animosity, and will further discourage them to get
jabbed,” he said in a statement.
Senator Maria Lourdes Nancy S. Binay-Angeles
questioned the feasibility of the order. She said retro-
fitting public vehicles was more practical.
She said the ban “does not protect those who are
yet to be vaccinated” because it prevents them from
traveling to vaccination sites.
Senator Panfilo M. Lacson, Sr. asked whether there
are enough vaccines even for people willing to get vac-
cinated. “It’s unfair.”
“Indiscriminately punishing even the willing but
have no choice due to government shortcomings in
providing for their protection should first be taken into
consideration before taking a drastic action of possibly
denying those people their means of livelihood to feed
their families,” he said in a statement.
“It is a different matter altogether if vaccines are
available to all,” he added.
“Let us promote the vaccination of the willing,”
Senator Aquilino Martin “Koko” Pimentel III said in a
Viber message. “There is no law that makes COVID-19
vaccination mandatory, and if ever such a law is
passed, this would be unconstitutional in my view.”
He added that people who choose not to get inocu-
lated for medical or religious reasons should not suffer,
noting that even vaccinated people could be carriers of
the virus.
Senator Mary Grace S. Poe-Llamanzares said
she understood the proposed ban because majority
of those that have died of the coronavirus or were
hospitalized were unvaccinated.
“We should encourage everyone to get vaccinated
unless they have a legitimate underlying health reason
not to,” she said in a Viber message.
Regional Updates
FERNANDO Poe Jr. Avenue northbound from its intersection with Quezon Avenue
Duterte signs law naming QC road after iconic actor FPJ
PRESIDENT RODRIGO R. Duterte has signed
into law a measure renaming Roosevelt
Avenue in Quezon City (QC) after the late
Filipino iconic film actor Fernando Poe, Jr.
Under Republic Act No. 11608, the
road, which runs between Epifanio de
los Santos Avenue (EDSA) and Quezon
Avenue to the south, would be renamed
as Fernando Poe Jr. Avenue.
The law directed the Public Works
department to issue necessary rules and
circulars to implement its provisions
within 60 days from effectivity.
NATIONWIDE ROUND-UP
Comelec fixes system
issues detected
during mock polls
THE COMMISSION on Elections (Comelec)
has addressed issues in the automated vot-
ing system that were detected during the
mock polls held last month.
The hitches were found in vote-counting
machines and the consolidated canvassing
system in relation to the source code.
“As we have said earlier when we con-
ducted our trusted build in Alabama (in De-
cember), if there is a need to do the trusted
build because of some issues which involve
source codes, then we need to do another
trusted build,” Comelec Commissioner
Marlon S. Casquejo said during a Facebook
livestream on Thursday of the activity.
The final trusted
build is a process FULL STORY
that converts source
codes that are written
in human-readable
programming lan-
guage into a file that
computers can un- Read the full story by
scanning the QR code with
derstand. — Jaspearl or by typing the link
Emerald G. Tan < bit.ly/BWTheNation >
Visayan Electric says addressing reported
extortion in post-typhoon restoration
VISAYAN ELECTRIC Company, Inc. (Visayan
Electric) said on Thursday that investigation is
underway on reports of contractors or linemen
extorting money from customers to get priority
in having their supply back as restoration works
continue in the aftermath of typhoon Odette,
which toppled power lines almost a month ago.
“We ask for cooperation from the public not to
entertain or participate in these illegal activities,”
the Aboitiz-owned utility company said in a state-
ment first released to the Cebu press on Jan. 7.
The company assured that those who will be
proven to have committed “such illegal actions
will be penalized accordingly.”
Visayan Electric also warned customers that
JUDGEFLORO
it would not be liable for “any damage or loss
arising out of or in connection with the unau-
thorized re-energization arrangement.”
Mr. Poe, who died at age 65 in Dec.
AS OF JAN. 13
2004, was most known for his action
films, but he was also considered a
luminary of the Philippine cinema industry
3,092,409*
having been a director, producer, and total COVID-19 cases, up 34,021
new cases from Jan. 12’s 3,058,634
screenwriter.
(*246 duplicates were removed from the total
His daughter, Senator Grace Poe-
case count. Of these, 180 are recoveries.)
Llamanzares, said her family is “humbled
by this legislation.”
ACTIVE CASES: 237,387
In a statement, Ms. Poe said the road
(from 208,164 previously)
would give her father’s works and legacy
a sense of place in the country’s history. — SOURCE: Department of Health Case Bulletin as of Jan. 13, 4:00 p.m.
Kyle Aristophere T. Atienza
the operation of existing franchises that are marginalized groups and “bring out the best
awaiting renewal by Congress,” Senator Leila of servant leadership in government officials
M. De Lima said in a statement. and public servants by being the foremost
“As stated in the objective of the proposed example of integrity, dedication, professional-
law, the measure only seeks to address a gap ism, level-headedness, statesmanship, pursuit
in the continuity of operation of public utili- of excellence, hard work, and true caring and
ties pending the renewal of their franchises sharing for our fellow Filipinos.”
— again, a benefit that is, in the first place, The high-level officials under President
already granted to, and being enjoyed by, Fidel V. Ramos said Ms. Robredo can lead
holders of executive licensees,” she added. the country into the “positive path” consid-
House Bill 7923, which seeks to amend ering the May polls is “a critical crossroads
Section 18 of the Administrative Code of the for the country” as it emerges from the deep
Philippines, is currently pending with the scars inflicted by the pandemic.
committee on legislative franchises. They committed to do their “share to
Parañaque Rep. Joy Myra S. Tambunting, help her become the next President of the
primary author of the House version, did not Republic of the Philippines.”
immediately respond to a Viber message They also called out the prevalence of fake
seeking comment. news and disinformation, which they said could
The Justice department previously compromise the electoral campaign. They
expressed support and claimed that there was noted deliberate attempts to misuse certain
“nothing legally objectionable” in the measure, polls and surveys “that may not necessarily
but Solicitor General Jose C. Calida noted his reflect and represent true voter preferences.”
opposition to the bill in a letter to the National They also raised alarm over the “contin-
Telecommunications Commission. ued patronage and money politics,” which
Ms. De Lima countered that there is noth- they said have perpetuated dynasties and
ing unconstitutional in the proposed bill as diverted people’s choices away from electing
Congress still has the authority to deny or principled leaders.
approve the franchise renewal. Mr. Ramos, who won the presidency in
The service provider underscored that
restoration of electricity is free of charge and that
its teams have been working 24 hours a day to
fast-track repair works.
As of Jan. 12, the company said it has recon-
nected 269,747 customers, with power demand
reaching 374 megawatts or about 75% of the
pre-typhoon level.
Visayan Electric, the second largest elec-
tric utility in the country, covers an area of
about 674 square kilometers with a popula-
tion of about 1.73 million.
It’s franchise area includes the cities of Cebu,
Mandaue, Talisay, and Naga, and the towns of
Liloan, Consolacion, Minglanilla and San Fernando.
The company said damage assessment so
far indicates 1,997 poles were affected. Inspec-
tion is still ongoing in remote areas.
RECOVERED: 2,802,286
(from 2,797,816 previously)
DEATHS: 52,736**
(from 52,654 previously)
(**44 cases that were previously tagged as
recoveries were reclassified as deaths after
final validation.)
Presidential bet Gonzales:
Agri dep’t first to be reformed
AGRICULTURE will be the first department to
undergo reforms under a Norberto B. Gonzales
presidency, the standard-bearer of the Partido
Demokratiko Sosyalista ng Pilipinas (PDSP) said
in a virtual press conference on Wednesday.
He said agriculture will be his priority to
boost food production and generate more
income for farmers.
“Kaya ang una kong lilinisin, hindi naman
natin malilinis agad… uutusan natin para ku-
milos agad ay yung (That is why the first to
be revamped… we will order to immediately
take action is the) Department of Agricul-
ture,” he said.
Mr. Gonzales, a former defense secretary
and national security adviser under the
presidency of Gloria M. Arroyo, said food
security “is a national security question.”
“We want to make sure that a strategic
crop such as rice will be produced by us. And
let us not oppress those who produce them,”
he said.
He said rice production could be made
more profitable by using more modern
equipment.
He also said that stable food supply

Duterte signs bill “It only provides that pending the decision
of Congress, the franchise continues to subsist
1992, was endorsed by his predecessor, the
late Corazon C. Aquino, who took office in
would mean improved health conditions
for the population, which helps provide

that shortens Senator presses House for

swift passage of measure
so as to avoid losses both in income and in
the service provided to the public during the
1986 after the late dictator Ferdinand E. Mar-
cos was toppled by
protection against coronavirus disease 2019
(COVID-19).

adoption process on franchise expiration

PRESIDENT Rodrigo R. Duterte has signed into law a
measure shortening the process of child adoption in
the Philippines.
Republic Act 11642, which was signed on Jan. 6,
cut the waiting time of adoptive parents to at least six
months from two to three years.
It creates a National Authority for Child Care
under the Social Welfare department that will handle
applications, petitions and other matters involving
alternative child care. It also prescribes the time within
which adoption petitions must be resolved.
It penalizes coercion, undue influence, fraud,
material inducement and similar acts to induce adop-
tion, as well as exposing a child to danger, abuse or
exploitation. — Kyle Aristophere T. Atienza
A SENATOR on Thursday called for the House
of Representatives’ swift passage of a mea-
sure that prevents the automatic expiration of
franchises with pending renewal applications
to ensure continuity of utility services.
The upper chamber’s version, Senate
Bill 1530, was approved on final reading last
December, with the revised administrative code
providing the non-expiration of a license “where
the licensee has filed a timely and sufficient ap-
plication for renewal, until a final determination
on the application has been made.”
“I call on our counterparts in the House
to pass this measure, as it remains crucial to
period between its expiration and eventual
renewal,” she said. — Alyssa Nicole O. Tan
Cabinet members under Ramos
back Robredo’s presidential bid
MORE THAN 20 former Cabinet and senior
officials under the Ramos administration
have backed the presidential candidacy
of Vice President Maria Leonor “Leni” G.
Robredo, saying the 2022 elections is crucial
for the country’s economic recovery.
In a signed statement dated Jan. 12, the 23
former government officials said the country
needs a unifying leader who can empower
a popular uprising
backed by military
The presidential
aspirant also said that
generals. the pharmaceutical and
Under his drug industry should
administration, Mr. be strengthened and
Ramos, who hails reorganized to address
from Pangasinan in northern Philippines, medicine supply issues.
implemented liberal economic programs His other administrative priorities include
that encouraged private enterprise and cleaning up urban areas and decongesting
foreign investments. crowded communities.
The former military general was also The PDSP party chair advocates for
known for his so-called Philippines 2000 pro- social democracy, which he said is an
gram, which aimed to make the Philippines alternative political philosophy that puts the
a newly industrialized country by the turn of means of production more in the hands of
the century. — Kyle Aristophere T. Atienza government. — Jaspearl Emerald G. Tan
 S2/1
VOL XXXV ISSUE 124 ISSN0116-3930

www. bwo r l d o n l i n e.co m S2/1-8 • STOCK MARKET • WORLD MARKETS • ARTS & LEISURE

FRIDAY, JANUARY 14, 2022 EDITOR BETTINA FAYE V. ROC

Banking&Finance SAG AWARD

NOMINATIONS
S2/8

BPI shortens bond offer period

MARKET WATCH FOREX RATE
FOREIGN INTEREST RATES THURSDAY, JANUARY 13, 2022
Percent per annum

amid ‘overwhelming demand’

THURSDAY, JANUARY 13, 2022
LIBOR (US$) Nov 16 Dec 14 Jan 11

90-days 0.1600 0.2109 0.2444

180 0.2278 0.2911 0.3861 15.00 ctvs

SIBOR (SG$) Nov 11 Dec 09 Jan 06 Sept Oct Nov Dec Jan
Close: P51.040 BANK OF THE Philippine Islands (BPI) is Investors may buy a minimum of P1 mil-
90-days 0.4364 0.4375 0.4375 Volume: $917.25 million ending its bond offer a week earlier than sched- lion worth of the debt papers, with addi-
Previous Close: P51.190
180 0.5923 0.5932 0.5932 Source: Bankers Association of the Philippines uled due to strong demand from investors. tional increments of P100,000 thereafter.
The papers will only be offered until Fri- BPI Capital Corp. and The Hongkong
day, Jan. 14, “due to overwhelming demand and Shanghai Banking Corp. Ltd. (HSBC)
Source: REUTERS from investors, which includes institutional are the joint lead arrangers of the offer. BPI
MONEY QUOTATIONS WEDNESDAY, JANUARY 12, 2022 investors as well as high-net-worth and re- Capital is sole selling agent, while HSBC is
EXCHANGE RATES tail clients,” the bank said in a filing with the a participating selling agent for the bond
NEW YORK-one US$ expressed in respective MONEY RATES (London) local bourse. offering.
unit of foreign currency Euro$ Depo The bond offer was originally scheduled In August 2020, BPI raised P21.5 billion
United Kingdom 1.3701 One month 0.0400 0.2400 to run from Jan. 6 to 21. via its COVID Action Response bonds which
Canada 1.2507 Three months 0.1000 0.3000 The two-year papers, which make up the was used to finance credit for small busi-
Switzerland 0.9141 Six months 0.2300 0.4300 fourth tranche of BPI’s P100-billion bond pro- nesses amid the pandemic crisis.
Japan 114.6300 One year 0.6300 0.7500 gram, have a fixed rate of 2.8068% per annum. The Ayala-led lender’s net profit in-
India 73.7757 BPI said it was eyeing to sell P5 billion creased by 3% year on year to P5.657 bil-
Mexico 20.3340 Forwards & Deposits (Singapore)
worth of peso-denominated bonds but not- lion in the third quarter of 2021 amid lower
Denmark 6.5028 One month 0.2500 0.3500
ed it was open to upsize the issuance. credit provisions, which offset the decline in
Norway 8.6644 Two months 0.2500 0.3700
Sweden 8.9425 Three months 0.0900 0.7400
Proceeds from the issue will fund the its interest earnings.
Singapore 1.3456 Six months 0.5000 0.6200 bank’s general corporate needs as well as Its nine-month net profit rose by 1.8%
Australia 0.7284 Nine months 0.6200 0.7500 debt refinancing. year on year to P17.5 billion.
BPI Treasurer Dino R. Gasmen earlier BPI shares went up by 10 centavos or BW FILE PHOTO
New Zealand 0.6844 One year 0.7500 0.8700
Hong Kong 7.7909 said part of the proceeds will also be used for 0.11% to close at P95.05 apiece on Thursday. BANK of the Philippine Islands will end its bond offer
S. Africa 15.2940 LIBOR RATE -London Interbank Offered the bank’s digitalization efforts. – Luz Wendy T. Noble ahead of schedule on the back of strong demand.
Hungary 308.6300 Rates charged in US$ for Eurodollar loans
Israel 3.1083 Rates fixed at 11:00 a.m. London time
Iceland 128.3200
Czech Koruna 21.2290
One Month
Two Months
0.1130
0.0000 BSP limits basic OPINION
deposit accounts A reset on hybrid work
LONDON - one pound sterling expressed in Three months 0.2444
respective unit of foreign currency at 1637 GMT Six months 0.3861
US 1.3706 1.3707 One year 0.6956
to one per client
L
Swiss France 1.2531 1.2539
Japan 157.1300 157.1800 GOLD BULLION ATE last year, organizations all over the word were ready Another report from Forbes wrote that “there is
Norway 11.8690 11.8900 WORLD BULLION-in US$ per troy and gearing up for a smooth rollout of hybrid work in increased speculation that some work may be shifting
EURO 1.1978 1.1984 ounce, rupees/10 gms, won/gram THE BANGKO SENTRAL ng Pilipinas 2022. Companies already crafted policies and procedures more permanently from offices to the home.” Furthermore,
Canada 1.7139 1.7144 Ldn morning fix 1816.40 (BSP) directed lenders to limit basic on who should report physically in the office and who will “a large permanent shift would have major implications
Denmark 8.9120 8.9184 Ldn aftrn fix 1821.40 deposit accounts (BDA) to one per de- work remotely, the frequency of remote work, monitoring and in many spheres, including the future of office work and
Sweden 12.2580 12.2630 London close 1821.55 1822.06
positor, urging clients to consider other reporting structures, and others. Human resource (HR) lead- downtown Central Business Districts (CBDs).”
JAPAN-in ¥ per unit of foreign currency New York SPOT 826.1/
products better suited for their needs. ers were expecting a certain degree of stability in 2022, where The changing circumstance of the pandemic is now
UK 0.6363 0.6364 Zurich SPOT 826.1/
Switzerland 0.7975 0.7976 Bombay 24 carat 100.00 100.00
Memorandum No. M-2022-003 employees just need to get vaccinated, follow health proto- compelling business leaders to revisit, and even reset their
SINGAPORE-in S$ per unit of foreign currency signed by BSP Deputy Governor Chuchi cols, and go on with their daily lives amid the pandemic. hybrid work policies.
US 1.3458 1.3466 US Gold Prices ($/Troy ounce) G. Fonacier on Jan. 12 reminded banks News about the new COVID-19 variant Omicron broke in Luxury toilet maker Lixil Corp.’s chief people officer, Jin
UK 1.8446 1.8458 Engelhard gold (bullion) 1822.00 and depositors of the rules for BDAs as November, but we all knew little about it. People considered it Montesano said that the company has deviated from Japan’s
Australia 0.9797 0.9806 Engelhard gold (fabricated) 1958.65 stated in Circular 992 dated Feb. 1, 2018. as another deadly Delta-like variant that the current vaccines rigid work structure by dumping core working hours and
Per 100 Handy & Harman (base price) 1821.40 It said clients can tap other deposit can ward off. Economies and businesses morning meetings, and rethinking what
Hong Kong
Japan
0.1727
1.1737 1.1745
0.1728 Handy & Harman (fabricated)
Krugerrand 1821.00 1824.00
2021.70 products for their needs if they are be-
yond BDA limits.
continued opening in December, taking FINEX FOLIO the office should be, as reported by Re-
advantage of the merriment and spend- REYNALDO C. LUGTU, JR. uters. “It’s no longer the place to work
“The maximum balance [of the BDA] ing sprees of the holiday season. People ... wherever you get work done is where
is set at P50,000 to allow banks to were intoxicated with the prospect of you work,” said Montesano as reported
BSP REFERENCE RATES Source: BSP
THURSDAY, JANUARY 13, 2022 ensure that accounts remain low-value, living normal lives in coexistence with the virus. by Reuters. “What we want to do is reimagine the office.”
which can be considered in their risk Then in January, news sites and the internet were littered When some workers finally do return to the office in 2022
Equivalent Equivalent Equivalent Equivalent Equivalent Equivalent
assessment,” the memorandum said. with how the Omicron cases had been doubling every day. or down the road, many will find the layout and function to be
of foreign of US$1 of foreign of RPP in of foreign of EURO
currency in in foreign currency in foreign currency in in foreign
The BSP said banks are allowed In the US, hospitalizations break record cases as Omicron completely different. Nicholas Bloom, a professor of economics
Currency US Dollar currency RP peso currency EURO currency to implement automatic transaction surges. The Philippines broke the 30,000 mark on daily cases at Stanford University, US, told BBC News that “companies
rejections to keep the limit, but they just recently. The infectivity rate of the new variant is unprec- will reconfigure spaces this year to meet the needs of a newly
Convertible currencies with BSP are expected to inform depositors of edented, acting more infectious than the common flu. hybrid workforce, and accounting for how people actually want
US dollar 1.000000 1.000000 51.10000 0.019569 0.873668 1.144600 the consequences of going beyond the While the severity of the symptoms brought about by Omi- to work when they’re together in person: collaboratively.”
Japanese yen 0.008724 114.626318 0.44580 2.243158 0.007622 131.199160 deposit limit in the BDA. cron is not as grave, people infected were rendered bed ridden. So how will hybrid work look like in this year and the years
UK pound 1.370500 0.729661 70.03260 0.014279 1.197362 0.835169 It added that rejections should also HR leaders had to rethink and even reset their hybrid work plans. to come? There are many prognostications from experts. In
Hongkong dollar 0.128355 7.790892 6.55890 0.152465 0.11214 8.917425 be clearly communicated with the In France, the Ministry of Labour updated its guidelines the end, we don’t know what we don’t know. The virus may
Swiss franc 1.093972 0.914100 55.90200 0.017888 0.955768 1.046279
depositor at the point of transaction. imposing on all companies operating in France “to ensure show other mutations that have differently.
Canada dollar 0.799552 1.250700 40.85710 0.024476 0.698543 1.431551
The BDA was introduced in 2018 that each employee (whose role allows for remote working) But one thing is certain — the pre-pandemic office doesn’t
Singapore dollar 0.743163 1.345600 37.97560 0.026333 0.649277 1.540175
Australia dollar 0.728400 1.372872 37.22120 0.026866 0.63638 1.571388
to address the needs of the unbanked works remotely at least 3 days per week, and up to 4 days work the way employees in 2022 need it to. Business and HR
Bahrain dinar * 2.652450 0.377010 135.54020 0.007378 2.31736 0.431526 and underserved Filipinos. This kind per week whenever compatible with the organization of leaders need to configure the work set up with enough flexibil-
Kuwait dinar N/A N/A N/A N/A N/A N/A of account has a low opening amount work and the employee’s situation for a three-week period ity. Companies will need to implement a distributed enterprise
Saudi Arabia rial 0.266446 3.753106 13.61540 0.073446 0.232785 4.295809 capped at P100, no maintaining starting on 03-01-2022 (i.e., until 24-01-2022).” strategy that mimics the central office operations to the homes
Brunei dollar 0.740412 1.350599 37.83510 0.026430 0.646874 1.545896 balance requirement, no dormancy South Korea, the Netherlands, Germany, and Ireland and locations of workers. Constant adjustment is key.
Indonesia rupiah 0.000070 14285.714286 0.00360 277.777778 0.000061 16393.442623 charges and has a maximum balance were among countries to reimpose partial or full lockdowns,
Thailand baht 0.029985 33.350008 1.53220 0.652656 0.026197 38.172310 limit of P50,000. or other social distancing measures in recent days, impact-
U. A. E. Dirham 0.272287 3.672595 13.91390 0.071871 0.237888 4.203659 A central bank study showed ing the implementation of hybrid work. REYNALDO C. LUGTU, JR. is the founder and CEO of Hungry
E.M.U. euro 1.144600 0.873668 58.48910 0.017097 1.00000 1.000000 Workhorse, a digital and culture transformation consulting firm. He is
that lack of money and documentary BBC News reported that “finding a ‘new normal’ in the
South Korea won 0.000843 1186.239620 0.04310 23.201856 0.000737 1356.852103 the chairman of the Information and Communication
requirements, as well as the perception workplace as impossible” and that “amid constantly shifting
China yuan ** 0.157262 6.358815 8.03610 0.124438 0.137395 7.278285 Technology Committee of the Financial Executives

they don’t need an account, are cited by circumstances, it’s hard to pin down where we might find Institute of the Philippines (FINEX). He is a fellow at
Others (Not Convertible with BSP) unbanked respondents as some of the ourselves in 12 months’ time.” Further to the report, “a call the US-based Institute for Digital Transformation. He
Argentina peso 0.009647 103.659169 0.49300 2.028398 0.008428 118.652112 main hindrances to becoming part the for shorter workweeks and condensed hours has been gain- teaches strategic management in the MBA Program
Brazil real 0.180708 5.533789 9.23420 0.108293 0.157879 6.333965 formal financial system. ing traction around the globe, with companies and entire of De La Salle University. The author may be
e-mailed at rey.lugtu@hungryworkhorse.com
Denmark kroner 0.15378 6.502796 7.85820 0.127256 0.134353 7.443079 In the new memorandum, the BSP governments alike already exploring this alternative.”
India rupee 0.013555 73.773515 0.69270 1.443626 0.011843 84.438065 said clients that already have a regular
Malaysia ringgit 0.239006 4.183995 12.21320 0.081879 0.208812 4.788997 deposit account are allowed to open a
Mexico new peso 0.049179 20.333882 2.51300 0.397931 0.042966 23.274217 BDA account, especially if “they have

DBP partners with inventors’ group to

New Zealand dollar 0.684400 1.461134 34.97280 0.028594 0.597938 1.672414
difficulty in meeting the required main-
Norway kroner 0.115415 8.664385 5.89770 0.169558 0.100834 9.917290
taining balance of the existing account
Pakistan rupee 0.005685 175.901495 0.29050 3.442341 0.004967 201.328770
or wants to enjoy the benefits of the

improve access to funding for projects

South African rand 0.065385 15.294028 3.34120 0.299294 0.057125 17.505470
Sweden kroner 0.111826 8.942464 5.71430 0.175000 0.097699 10.235519 BDA.” — L.W.T. Noble
Syria pound 0.000398 2512.562814 0.02030 49.261084 0.000348 2873.563218
Taiwan dollar 0.036170 27.647221 1.84830 0.541038 0.031601 31.644568 FULL STORY
Venezuela bolivar 0.000004 250000.000 0.00020 5000.000 0.000003 333333.333333
Read the full story by scanning
DEVELOPMENT Bank of the port to shepherd the projects run by individuals who hold pat-
SDR Rate = $1.40186/SDR GOLD Buying: $1,824.60 SILVER Buying: $23.10 the QR code with your Philippines (DBP) has partnered of Filipino inventors from the ents locally and overseas.
* Various banks in Bahrain as quoted in Reuters’ Screen smartphone or by typing the link with an inventors’ group to help drawing board to actual imple- Members include profes-
<https://bit.ly/3qnyvnn>
** Asian Time Closing Rate as of January 12, 2022 improve scientists’ access to mentation and even produc- sionals and entrepreneurs who
funding for commercial projects. tion,” he said in a press release support the development of local
The state-owned bank part- on Thursday. technology.
Source: BSP
nered with the Filipino Inventors The bank is creating a program Intellectual property filings de-
PESO CROSS RATES THURSDAY, JANUARY 13, 2022
Society, Inc. to create programs that would support inventors, clined in 2020 as inventors and cre-
Phil Aussie Bahrain Canadian HKong Japan Saudi S’pore Swiss UK US EMU that will support inventors’ finan- scientists and entrepreneurs atives delayed applications amid
one unit of currency peso dollar dinar dollar dollar yen rial dollar franc pound dollar euro
cial and operational management. to speed up the development of the lockdown declared to contain
Philippines 1.0000 0.0269 0.0074 0.0245 0.1525 2.2432 0.0734 0.0263 0.0179 0.0143 0.0196 0.0171
DBP President and Chief their ideas, he said. the coronavirus disease 2019.
Australia 37.2212 1.0000 0.2746 0.9110 5.6749 83.4930 2.7338 0.9801 0.6658 0.5315 0.7284 0.6364
Bahrain 135.5402 3.6415 1.0000 3.3174 20.6651 304.0381 9.9549 3.5691 2.4246 1.9354 2.6525 2.3174
Executive Officer Emmanuel G. “We will continue to encour- Filings increased by 20% in the
Canada 40.8571 1.0977 0.3014 1.0000 6.2293 91.6489 3.0008 1.0759 0.7309 0.5834 0.7996 0.6985 Herbosa said this will help im- age the development of relevant first half of last year after rela-
Hong Kong 6.5589 0.1762 0.0484 0.1605 1.0000 14.7127 0.4817 0.1727 0.1173 0.0937 0.1284 0.1121 prove inventors’ access to fund- technologies and meaningful tively eased lockdown restrictions
Japan 0.4458 0.0120 0.0033 0.0109 0.0680 1.0000 0.0327 0.0117 0.0080 0.0064 0.0087 0.0076 ing opportunities for commercial solutions to local problems, in at the time supported economic
Saudi Arabia 13.6154 0.3658 0.1005 0.3332 2.0759 30.5415 1.0000 0.3585 0.2436 0.1944 0.2664 0.2328 production. support of the Philippine Devel- recovery, the Intellectual Prop-
Singapore 37.9756 1.0203 0.2802 0.9295 5.7899 85.1853 2.7892 1.0000 0.6793 0.5423 0.7432 0.6493 “Since market potential and opment Plan and the country’s erty Office of the Philippines said.
Switzerland 55.9020 1.5019 0.4124 1.3682 8.5231 125.3970 4.1058 1.4721 1.0000 0.7982 1.0940 0.9558 commercial viability are very Sustainable Development Goals,” Intellectual property applica-
United Kingdom 70.0326 1.8815 0.5167 1.7141 10.6775 157.0942 5.1436 1.8441 1.2528 1.0000 1.3705 1.1974 important considerations, we he added. tions stood at 22,919, driven by
United States 51.1000 1.3729 0.3770 1.2507 7.7909 114.6254 3.7531 1.3456 0.9141 0.7297 1.0000 0.8737
hope to consequently provide The Filipino Inventors Society a 23% increase in trademark fil-
EMU 58.4891 1.5714 0.4315 1.4316 8.9175 131.2003 4.2958 1.5402 1.0463 0.8352 1.1446 1.0000
the necessary funding sup- is nongovernment organization ings. — J.P. Ibañez
2/S2
The
Stock Market FRIDAY, JANUARY 14, 2022 EDITOR BETTINA FAYE V. ROC

Stocks climb as World Bank keeps GDP forecasts

STOCKS ended higher on Thurs- outlook for the Philippine econ- ippine economy at 5.9% for 2022 of Sales Luis A. Limlingan said in not be placed under a stricter to 10,402.87; holding firms added
day after the World Bank said it omy,” Timson Securities, Inc. and 5.7% for 2023. These are be- a Viber message. lockdown. 65.61 points or 0.93% to close at
is optimistic on the Philippine Trader Darren Blaine T. Pangan low the 7-9% and 6-7% growth The consumer price index rose The Health department on 7,091.31; and property increased
economy this year, even as infla- said in a Viber message. projections set by economic man- 0.5% last month after advanc- Thursday reported 34,021 new 19.10 points or 0.59% to 3,234.07.
tion and new variants of the coro- In its latest “Global Economic agers for both years. ing 0.8% in November. In the 12 COVID -19 cases, bringing ac- Value turnover grew to P7.2
navirus disease 2019 (COVID-19) Prospects” report released on The World Bank expects the months through December, the tive infections in the country to billion with 1.50 million shares
threaten the outlook. Tuesday, the World Bank said the Philippine gross domestic prod- CPI surged 7.0%, Reuters report- 237,287. switching hands from the P5.95
The 30-member Philippine Philippines could go back to its pre- uct (GDP) to have expanded by ed. That was the biggest year-on- All sectoral indices ended in billion with 854.66 million issues
Stock Exchange index (PSEi) ad- pandemic output this year, but the 5.3% in 2021, which is within the year increase since June 1982 and the green on Thursday, led by min- traded the previous day.
vanced 92.62 points or 1.28% on rapid spread of the Omicron vari- 5-5.5% target of the government. followed a 6.8% rise in November. ing and oil, which climbed 221.37 Advancers outnumbered de-
Thursday to close at 7,307.75, while ant may coincide with the threat of “Investors continued to bet on Philstocks Financial, Inc. points or 2.24% to 10,082.12. cliners, 131 against 60, while 50
the broader all shares index went inflation, growing debt, and height- the recovery of the Philippines Senior Research Analyst Japhet Financials gained 28.80 points names closed unchanged.
up 40.20 points or 1.05% to 3,870.11. ened income inequality in emerg- as the high US consumer price Louis O. Tantiangco said the local or 1.74% to end at 1,678.44; ser- Net foreign buying increased to
“The local bourse finished ing and developing economies. index (CPI) numbers made them bourse’s extended rally on Thurs- vices inched up 30.54 points or P659.73 million from the P313.75
higher as investors seem to have The multilateral lender kept return back to the PSEi,” Regina day reflected investors’ hope that 1.55% to 1,994.86; industrials million logged on Wednesday. —
taken positively the World Bank’s its growth projection for the Phil- Capital Development Corp. Head the National Capital Region will advanced 141.35 points or 1.37% MCL with Reuters

Philippine Index Charts THURSDAY, JANUARY 13, 2022

FINANCIALS: 1,678.44 INDUSTRIALS: 10,402.87 HOLDINGS: 7,091.31 PROPERTY: 3,234.07 SERVICES: 1,994.86 MINING & OIL: 10,082.12 ALL SHARES: 3,870.11 PSEi: 7,307.75

28.80 141.35 65.61 19.10 30.54 221.37 40.20 92.62

A S O N D J A S O N D J A S O N D J A S O N D J A S O N D J A S O N D J A S O N D J A S O N D J

PROVIDED BY TECHNISTOCK
PSE TURNOVERS AND AVERAGES PHILIPPINE STOCK EXCHANGE THURSDAY, JANUARY 13, 2022
OPEN HIGH LOW VOLUME VALUE (P)
FINANCIAL 1,651.74 1,678.44 1,651.60 FINANCIAL 16,463,870 1,307,645,585.94
SOURCE: TECHNISTOCK
INDUSTRIAL 10,275.62 10,402.87 10,264.05 52Wk 52Wk MktCap Stock Stocks Volume Open High Low Close Prev Net Foreign 52Wk 52Wk MktCap Stock Stocks Volume Open High Low Close Prev Net Foreign
INDUSTRIAL 340,575,842 1,927,731,702.10
HOLDINGS 7,007.19 7,146.08 7,007.19 HOLDINGS 40,507,892 1,189,616,057.37 High Low (Pmil) Code Close Trade (peso) High Low (Pmil)
Code Close Trade (peso)
PROPERTY 3,222.68 3,234.07 3,195.89 PROPERTY 96,942,983 746,987,949.83 Buy(sell) Buy(sell)
SERVICES 1,968.80 1,997.64 1,968.79 SERVICES 219,945,109 1,669,613,599.76 Banks
MINING 9,932.87 10,141.24 9,932.87 MINING 782,125,557 336,516,386.63 47.6 41.55 21,499 AUB Asia United Bank Corp. 3,700 43.8 44.3 43.8 44.3 44.4 21,900 8.69 6.44 86,457 RCR RL Commercial REIT, Inc. 1,804,000 8.66 8.69 8.6 8.69 8.65 (772,284)
ALL SHARES 3,833.33 3,871.80 3,833.33 SME 6,426,464 17,078,112.50 133.5 98.5 568,802 BDO Banco de Oro Unibank, Inc. 2,573,810 127 130 126.8 129.7 126.8 103,530,325 22.05 15.32 99,107 RLC Robinsons Land Corp. 2,656,700 18.8 19.18 18.8 19.18 18.7 24,080,950
PSEi 7,217.38 7,317.09 7,217.38 ETF 17,100 1,880,856.00 96.2 79.45 434,163 BPI Bank of the Phil. Islands 3,731,700 95 96.5 94.9 96.2 94.95 (102,679,343) 0.45 0.2 1,911 RLT Philippine Realty & Hldgs. Corp. 680,000 0.208 0.21 0.201 0.21 0.2 -
ADVANCES: 131 DECLINES: 60 UNCHANGED: 50 GRAND TOTAL 1,503,004,817 7,197,070,250.13 26.05 22.85 69,704 CHIB China Banking Corp. 47,300 25.5 25.9 25.5 25.9 25.55 (98,120) 1.64 1.4 9,053 ROCK Rockwell Land Corp. 213,000 1.48 1.5 1.48 1.48 1.52 -
8.5 6.89 1,265 CSB Citystate Savings Bank 100 8.4 8.4 8.4 8.4 8.44 - 2.79 2.5 12,434 SHNG Shang Properties, Inc. 25,000 2.61 2.61 2.61 2.61 2.58 65,250
ODD LOTS VOLUME: 478,147 TOTAL FOREIGN BUYING: 2,827,691,803.47 10.66 8.92 21,780 EW East West Banking Corp. 187,600 9.54 9.69 9.47 9.68 9.54 (19,360) 3.35 2 22,868 SLI Sta. Lucia Land, Inc. 91,000 2.8 2.8 2.71 2.79 2.71 (8,370)
ODD LOTS VALUE: 327,404.80 TOTAL FOREIGN SELLING: 2,167,965,532.80 59.2 43 266,247 MBT MetroBank and Trust Co. 6,477,920 57.7 59.2 57.65 59.2 57.7 148,616,143 39.8 31.45 1,007,885 SMPH SM Prime Hldgs., Inc. 5,506,600 35 35.2 34.45 34.9 34.85 98,881,475
11.5 8.5 5,923 PBB Philippine Business Bank 28,700 9.02 9.2 9.02 9.2 9.15 - 1.08 0.57 532 SOC SOCResources, Inc. 50,000 0.59 0.59 0.59 0.59 0.57 -
31.15 19 30,820 PNB Philippine National Bank 199,200 20.4 20.4 20 20.2 20.4 (879,065) 4.34 3.62 31,176 STR Vistamalls, Inc. 78,000 3.69 3.71 3.69 3.7 3.68 73,960
TOP 10 IN VOLUME TOP 10 IN VALUE

77 54.1
118 80
23,904 PSB Philippine Savings Bank
104,000 PTC Philippine Trust Co.
300
100 104
56 56
104
56
104
56 55.8
104 113
-
-


2.4 1.07
4.72 3.35
8,120 SUN Suntrust Home Dev., Inc.
44,443 VLL Vista Land & Lifescapes, Inc.
677,000 1.09
600,000 3.49
1.12 1.08
3.52 3.45
1.12 1.08
3.5 3.49
(111,180)
290,040
Stocks Volume Stocks Value 24.4 16.82 42,176 RCB Rizal Commercial Banking 400 20.7 20.7 20.7 20.7 19.98 -
Oriental Pet. and Minerals Corp. “B” 631,600,000 Monde Nissin Corp. 444,535,698
Solar Philippines Nueva Ecija Corp. 199,095,000 Metropolitan Bank and Trust Co. 380,353,009 138.3 104.1 85,527 SECB Security Bank Corp. 1,312,440 113 114.9 112 113.5 112 20,350,172 Media
AllDay Marts, Inc. 74,002,000 PLDT, Inc. 376,216,130 109.8 55 149,372 UBP Union Bank of the Phils. 70,890 100 100 96 98 99.9 (463,382) 16.24 10.8 11,582 ABS ABS-CBN Corp. 96,700 13.6 13.6 13.3 13.56 13.5 -
Apollo Global Capital, Inc. 47,020,000 Bank of the Philippine Islands 356,129,967 16.06 5.88 48,452 GMA7 GMA Network, Inc. 1,191,300 14.26 14.5 14.26 14.4 14.2 -
United Paragon Mining Corp. 42,000,000 Banco de Oro Unibank, Inc. 332,141,230 Other Financial Institutions 0.53 0.4 1,438 MB Manila Bulletin Pub. Corp. 80,000 0.41 0.43 0.41 0.41 0.41 -
DITO CME Holdings Corp. 40,901,600 AC Energy Philippines, Inc. 322,128,002 2.04 0.89 2,598 BKR Bright Kindle Res. & Invest., Inc. 438,000 1.63 1.7 1.63 1.7 1.59 (507,000)
AC Energy Philippines, Inc. 34,393,300 Solar Philippines Nueva Ecija Corp. 284,620,670 4.86 3.71 19,706 COL COL Fin’l. Group, Inc. 405,000 4.05 4.14 4.05 4.14 4.08 (800,950) Telecommunications
Monde Nissin Corp. 27,016,000 SM Investments Corp. 264,069,810 0.72 0.56 728 FAF First Abacus Fin’l. Hldg. Corp. 1,000 0.61 0.61 0.61 0.61 0.7 - 3,630 1,796 444,952 GLO Globe Telecom, Inc. 56,185 3,396 3,410 3,322 3,330 3,396 (21,710,140)
Nickel Asia Corp. 26,962,700 Ayala Land, Inc. 258,688,835
Megaworld Corp. 25,273,000 Jollibee Foods Corp. 251,573,714 1.69 0.8 514 I I-Remit, Inc. 19,000 0.84 0.84 0.84 0.84 0.85 - 1,904 1,195 411,370 TEL PLDT, Inc. 198,710 1,865 1,912 1,854 1,904 1,865 65,480,305
1,010 800 1,845,506 MFC Manulife Financial Corp. 570 946.5 950 946.5 950 920 541,215
LEADERS

247 141.1
2,890 2,100
17,134 PSE The Phil. Stock Exchange, Inc.
1,611,587 SLF Sun Life Financial, Inc.
640 210.2 210.2 209
110 2,700 2,750 2,700 2,750 2,650
210 212 2,102
302,250
Information Technology
0.43 0.07 21,366 APL Apollo Global Capital, Inc. 47,020,000 0.072 0.073 0.071 0.073 0.073 20,580
Stocks Volume Close Net ±%
DITO CME Holdings Corp. 40,901,600 5.98 0.610 11.36% 44 15.46 236,326 CNVRG Converge ICT Solutions, Inc. 5,883,400 31.05 31.7 31.05 31.4 31.05 (62,268,840)
LBC Express Holdings, Inc. 16,500 24.70 2.500 11.26% Electricity, Energy, Power & Water 5.64 2.35 795 DFNN DFNN, Inc. 153,000 2.49 2.49 2.37 2.45 2.47 -
Dizon Copper Silver Mines, Inc. 1,000 5.19 0.490 10.43% 12.92 6.02 363,910 ACEN AC Energy Philippines, Inc. 34,393,300 9.06 9.55 9.06 9.52 9 64,350,721 17.9 4.92 93,733 DITO DITO CME Holdings Corp. 40,901,600 5.5 5.98 5.48 5.98 5.37 20,497,810
PH Resorts Group Holdings, Inc. 3,717,000 0.81 0.070 9.46% 1.42 1.03 6,858 ACR Alsons Cons. Res., Inc. 82,000 1.09 1.09 1.06 1.09 1.06 17,440 2.45 1.68 455 JAS Jackstones, Inc. 34,000 1.78 1.82 1.78 1.82 1.74 -
ATN Holdings, Inc. “A” 900,000 0.45 0.040 8.54% 34.2 20.5 228,117 AP Aboitiz Power Corp. 699,200 31.15 31.2 30.7 31 31.1 (5,636,225) 4.02 1.17 2,457 NOW Now Corp. 3,559,000 1.28 1.39 1.25 1.36 1.28 37,230
Del Monte Pacific Ltd A-1 Pref.(USD) 6,230 10.20 0.800 8.51% 1.86 0.45 7,969 BSC Basic Energy Corp. 13,424,000 0.55 0.56 0.53 0.55 0.55 64,200 0.64 0.29 1,215 TBGI Transpacific Broadband Grp. Int’l., Inc. 610,000 0.32 0.33 0.32 0.32 0.32 -
Ionics, Inc. 167,000 0.73 0.050 7.35% 33.95 26 101,603 FGEN First Gen Corp. 240,100 27.7 28.25 27.7 28.25 27.65 (379,315)
AllDay Marts, Inc. 74,002,000 0.61 0.040 7.02% 34,161 FPH First Phil. Hldgs. Corp. Transportation Services
Bright Kindle Res. and Investments, Inc. 438,000 1.70 0.110 6.92% 82 67.1 18,110 71.3 71.3 70 70.1 71.35 34,287
Now Corp. 3,559,000 1.36 0.080 6.25% 307 261 346,019 MER Manila Electric Co. 113,280 307 307 305 307 307 8,593,030 10.16 7.5 18,466 2GO 2Go Group, Inc. 15,000 7.53 7.8 7.5 7.5 7.51 -
27 13.84 72,265 MWC Manila Water Co., Inc. 385,600 25.35 25.35 24.85 25.05 25.35 1,846,745 16.26 13.5 28,000 ATI Asian Terminals, Inc. 2,200 14 14 14 14 14 2,800
LAGGARDS

Stocks Volume Close Net ±%
4.02 2.93 32,063 PCOR Petron Corp. 2,147,000 3.39 3.46 3.35 3.42 3.34 (153,620) 5.03 1.61 3,097 C Chelsea Logistics and Infra. Hldgs. Corp. 923,000 1.61 1.71 1.61 1.7 1.62 (16,500)
4.46 3.56 2,411 PERC Petroenergy Res. Corp. 36,000 4.15 4.24 4.15 4.24 4.25 - 54.2 38.9 26,502 CEB Cebu Air, Inc. 383,000 42.5 43.3 42.3 43.3 42.3 (6,315)
First Abacus Financial Holdings Corp. 1,000 0.61 -0.090 -12.86% 13.58 10.6 15,284 PNX Phoenix Pet. Phils., Inc. 12,800 10.58 10.6 10.58 10.6 10.78 - 205 118.5 413,838 ICT Int’l. Cont. Term’l. Serv., Inc. 961,200 196.1 203.4 196.1 203 195.7 45,086,420
Philippine Trust Co. 100 104.00 -9.000 -7.96% 439 12.6 68,983 SGP Synergy Grid & Dev’t. Phils., Inc. 3,789,200 13.06 13.34 13.06 13.1 13.1 (22,545,236) 24.95 15.38 35,219 LBC LBC Express Hldgs., Inc. 16,500 24.75 24.75 24.5 24.7 22.2 245,000
Leisure and Resorts World Corp. 4,176,000 1.34 -0.110 -7.59% 24.25 17.62 30,817 SHLPH Pilipinas Shell Pet. Corp. 434,200 19.14 19.3 19 19.1 19.12 (2,077,300) 6.5 4.21 10,268 MAC Macroasia Corp. 1,103,000 5.3 5.5 5.25 5.43 5.25 (432,936)
Araneta Properties, Inc. 68,000 0.96 -0.060 -5.88%
Atok-Big Wedge Co., Inc. 35,000 6.27 -0.320 -4.86% 14.76 9.84 20,802 SPC SPC Power Corp. 78,500 13.84 13.9 13.84 13.9 13.84 16,656 3.73 1.12 215 MAH Metro Alliance Hldgs. & Eqts. Corp.”A” 10,000 1.1 1.17 1.08 1.17 1.19 -
Lodestar Investment Hldgs. Corp. 103,000 0.62 -0.030 -4.62% 1.42 1.01 11,537 SPNEC Solar Philippines Nueva Ecija Corp. 199,095,000 1.42 1.47 1.39 1.42 1.42 10,463,770 1.82 0.82 778 TUGS Harbor Star Shipping Serv., Inc. 168,000 0.86 0.88 0.86 0.87 0.83 -
Berjaya Philippines, Inc. 18,300 5.50 -0.250 -4.35%
Bogo Medellin Milling Co. 100 69.00 -2.850 -3.97% Food, Beverage & Tobacco Hotel & Leisure
City and Land Developers, Inc. 13,000 0.89 -0.030 -3.26% 7.98 3.98 5,010 ANI Agrinurture, Inc. 10,000 4.9 4.9 4.8 4.89 4.9 14,710 2.95 1.4 562 ACE Acesite (Phils.) Hotel Corp. 128,000 1.45 1.63 1.43 1.63 1.65 -
Ginebra San Miguel, Inc. 123,100 115.30 -3.600 -3.03% 3.6 2.53 11,023 AXLM Axelum Resources Corp. 667,000 2.81 2.89 2.8 2.89 2.85 (240) 6.81 1.7 1,520 DWC Discovery World Corp. 281,000 1.78 1.78 1.78 1.78 1.83 -
SOURCE: TECHNISTOCK 81.5 58 414 BMM Bogo Medellin Milling Co. 100 69 69 69 69 71.85 - 0.7 0.46 1,200 WPI Waterfront Philippines, Inc. 200,000 0.46 0.48 0.46 0.48 0.47 -
29.25 17.1 96,704 CNPF Century Pacific Food, Inc. 1,914,100 27.65 28 27.1 27.3 27.45 21,438,145
17.98 7.85 29,704 DELM Del Monte Pacific Ltd. 26,800 15.02 15.48 15 15.28 15.02 - Education
PHL ABROAD JANUARY 12, 2022 Source: PSE 9.45 6.63 63,571 DNL D&L Industries, Inc. 4,144,400 8.98 9.1 8.84 8.9 8.98 (1,156,251) 7.96 6.49 2,570 CEU Centro Escolar University 100 6.9 6.9 6.9 6.9 6.96 -
Volume High Low Close Change 20.9 9.28 308,435 EMP Emperador, Inc. 1,247,200 19.7 19.8 19.56 19.6 19.68 (3,842,394) 0.47 0.32 3,417 STI STI Educ. Systems Hldgs., Inc. 500,000 0.34 0.34 0.34 0.34 0.34 6,900
PLDT 20,008 $37.10 $36.75 $37.01 $0.31 85 58.5 413,645 FB San Miguel Food and Bev., Inc. 100,990 69.4 70.5 69.4 70 70 (5,103,566)
Manulife Financial Corp. 4,293,705 $20.82 $20.56 $20.63 $0.05 0.68 0.52 1,550 FOOD Alliance Select Foods Int’l., Inc. 208,000 0.63 0.63 0.62 0.62 0.62 - Casinos & Gaming
Sun Life Financial, Inc. 843,868 $57.56 $59.91 $57.22 $0.50 1.77 1.15 2,475 FRUIT Fruitas Hldgs., Inc. 2,301,000 1.17 1.17 1.15 1.16 1.17 58,500 1.71 1.31 13,180 BEL Belle Corp. 97,000 1.35 1.35 1.35 1.35 1.32 (76,950)
118.9 50 32,367 GSMI Ginebra San Miguel, Inc. 123,100 118.5 122.3 114.6 115.3 118.9 5,796,754 8.18 5.29 69,511 BLOOM Bloomberry Resorts Corp. 1,311,000 6.5 6.5 6.3 6.4 6.5 2,152,753
259.8 167.2 255,946 JFC Jollibee Foods Corp. 1,099,660 222 230.8 221.8 230.6 223.2 28,234,038 2.1 1.34 3,275 LR Leisure and Resorts World Corp. 4,176,000 1.41 1.42 1.34 1.34 1.45 -
DIVIDEND UPDATE

39.04
40.8
1.17
27
20,312 KEEPR Keepers Hldgs., Inc., The
4,193 LFM Liberty Flour Mills, Inc.
15,993,000 1.36 1.42 1.34
300 27.95 27.95 27.95 27.95 28.6
1.4 1.36 1,665,390
-


3.32 0.72
0.53 0.38
5,898 PHR PH Resorts Group Holdings, Inc. 3,717,000 0.74
13,423 PLC Premium Leisure Corp. 3,210,000 0.43
0.81 0.72
0.43 0.42
0.81 0.74
0.43 0.42
(702,650)
-
Issue Stock Cash Ex-date Record Payable
8.45 5.18 7,105 MACAY Macay Hldgs., Inc. 1,100 5.51 6.65 5.51 6.65 6.66 (5,510) 7.8 5.7 3,116 PRC Phil. Racing Club, Inc. 100,000 5.7 5.75 5.7 5.7 5.75 -
Jollibee Foods Corp. Series A Pref. P8.20525 20-Dec.’21 23-Dec.’21 14-Jan.’22 7.58 5.2 6,649 MAXS Max’s Group,Inc. 31,400 6.34 6.6 6.34 6.41 6.4 (3,165) 3.08 1.8 2,699 WEB Philweb Corp. 224,000 1.9 1.9 1.86 1.88 1.9 39,770
Jollibee Foods Corp. Series A Pref. P10.60125 20-Dec.’21 23-Dec.’21 14-Jan.’22 0.54 0.145 368 MG Millennium Global Hldgs., Inc. 3,730,000 0.147 0.147 0.14 0.147 0.146 21,750
DoubleDragon Prop. Corp. Pref. P1.61945 24-Dec.’21 29-Dec.’21 14-Jan.’22 20.25 13.1 297,920 MONDE Monde Nissin Corp. 27,016,000 16 16.72 15.98 16.58 15.9 86,441,318 Retail
10.4 6.75 16,518 PIZZA Shakey’s Pizza Asia Vent., Inc. 1,315,700 9.95 10.04 9.8 9.81 9.95 (2,595,389) 0.9 0.57 13,943 ALLDY AllDay Marts, Inc. 74,002,000 0.58 0.61 0.57 0.61 0.57 3,443,170
NAVPS/ One Year Three Year Five Year Y-T-D 1.3 0.62 1,467 RCI Roxas and Co., Inc. 1,743,000 0.65 0.67 0.64 0.66 0.65 200,000 7.85 4.02 23,877 BCOR Berjaya Phils., Inc. 18,300 5.46 5.5 5.46 5.5 5.75 -
MUTUAL FUNDS NAVPU Return Return* Return* Return 4.79 4.4 15,635 RFM RFM Corp. 402,000 4.65 4.65 4.63 4.64 4.65 (1,492,650) 10.98 6.9 33,563 HOME AllHome Corp. 85,900 8.9 8.98 8.9 8.95 8.88 692,525
THURSDAY, JANUARY 13, 2022 % % % % 0.168 0.1 192 SFI Swift Foods, Inc. 580,000 0.106 0.106 0.101 0.106 0.101 - 1.55 1.22 4,725 MRSGI Metro Retail Stores Group, Inc. 262,000 1.37 1.42 1.37 1.41 1.4 -
158.6 121.8 285,908 URC Universal Robina Corp. 1,008,490 128 130 127.2 129.9 127.2 (6,665,106) 44.5 31.65 107,107 PGOLD Puregold Price Club, Inc 2,903,600 36.9 37.95 36.75 37.15 36.5 (55,765,055)
STOCK FUNDS 1.05 0.69 2,199 VITA Vitarich Corp. 437,000 0.7 0.72 0.7 0.72 0.7 - 68.3 48.5 88,369 RRHI Robinsons Retail Hldgs., Inc. 954,060 58.2 58.75 57.75 58.5 56.9 (6,510,253)
Primarily invested in Peso securities 120 84.5 65,090 SEVN Philippine Seven Corp. 11,400 86.5 86.5 86 86.05 86.5 (32,765)
ALFM Growth Fund, Inc. (a) 230.44  -0.16%  -4.64%  -1.88%  -1.14%  Construction, Infrastructure & Allied Services 1.57 1.05 3,595 SSI SSI Group, Inc. 1,711,000 1.1 1.1 1.06 1.09 1.07 (457,160)
ATRAM Alpha Opportunity Fund, Inc. (a) 1.6269  22.68%  2.64%  3.65%  -2.24%  1.5 1 14,029 CHP Cemex Hldg. Phils., Inc. 926,000 1.04 1.05 1.03 1.04 1.04 31,200 34.95 16.6 116,022 WLCON Wilcon Depot, Inc. 4,399,700 28.45 28.65 28.25 28.3 28.45 (25,831,885)
ATRAM Philippine Equity Opportunity Fund, Inc. (a) 3.1947  0.13%  -8.3%  -4.58%  -1.33%  15.7 10.44 74,000 EAGLE Eagle Cement Corp. 216,100 14.66 14.8 14.66 14.8 14.8 3,121,306
Climbs Share Capital Equity Investments Fund Corp. (a) 0.7558  -6.79%  -7.24%  n.a.  -0.09%  8.83 6.29 6,943 EEI EEI Corp. 116,800 6.6 6.7 6.6 6.7 6.6 (56,838) Other Services
First Metro Consumer Fund on MSCI Phils. IMI, Inc. (a)  0.753  0.19%  -5.03%  n.a.  -2.32%  7.48 5.01 37,422 HLCM Holcim Philippines, Inc. 1,161,100 5.58 5.83 5.55 5.8 5.52 5,902,813 0.57 0.22 1,771 APC APC Group, Inc. 10,000 0.236 0.236 0.236 0.236 0.237 -
First Metro Save & Learn Equity Fund, Inc. (a) 5.1052  1.36%  -3.15%  -0.04%  -1.5% 
8.26 5.01 10,289 MWIDE Megawide Const. Corp. 181,800 5.05 5.11 5.03 5.11 5.1 (84,238) 7.1 4.53 4,830 IPM IPM Holdings, Inc. 3,200 6.8 7 6.8 7 7 -
First Metro Save and Learn Philippine Index Fund, Inc. (a) 0.7723  0.55%  -4.57%  -3.42%  -1.4% 
MBG Equity Investment Fund, Inc. (a) 95.22  -7.64%  -7.26%  n.a.  0.84%  20.5 9.65 5,574 PHN Phinma Corp. 51,500 20 20.5 20 20.5 20 - 1.7 1.07 3,273 MEDIC Medilines Distributors, Inc. 10,653,000 1.15 1.23 1.13 1.19 1.15 1,201,140
PAMI Equity Index Fund, Inc. (a) 47.3282  -0.56%  -3.43%  -0.32%  -1.66%  2.15 0.76 752 T TKC Metal Corp. 98,000 0.78 0.82 0.78 0.8 0.78 - 3.16 0.49 2,650 PHA Premiere Horizon Alliance Corp. 6,983,000 0.49 0.53 0.49 0.52 0.5 52,765
Philam Strategic Growth Fund, Inc. (a) 494.99  -0.32%  -3.22%  -0.82%  -1.14%  3.85 0.8 1,276 VUL Vulcan Industrial & Mining 1,240,000 0.89 0.89 0.87 0.88 0.87 - 5.51 3.76 6,200 SBS SBS Philippines Corp. 24,000 3.98 4 3.97 4 3.95 -
Philequity Alpha One Fund, Inc. (a,d,) 1.1502  3.72%  n.a.  n.a.  -1.08% 
Philequity Dividend Yield Fund., Inc. (a) 1.3783  16.1%  1.32%  2.51%  1.62%  Chemicals Mining
Philequity Fund, Inc. (a) 36.1449  2.36%  -2.41%  0.74%  -1.23%  2.2 1.64 1,056 CROWN Crown Asia Chemicals Corp. 100,000 1.73 1.73 1.73 1.73 1.73 - 10.5 5.5 15,957 AB Atok-Big Wedge Co., Inc. 35,000 6.63 6.63 6.26 6.27 6.59 -
Philequity MSCI Philippine Index Fund, Inc. (a) 0.9302  0.1%  -3.82%  n.a.  -1.19%  2.51 1.4 6,168 EURO Euro-Med Lab. Phil., Inc. 10,000 1.5 1.5 1.5 1.5 1.5 - 1.82 1.33 10,089 APX Apex Mining Co., Inc. “A” 6,665,000 1.65 1.67 1.59 1.62 1.64 21,260
Philequity PSE Index Fund, Inc. (a) 4.8792  0.21%  -2.74%  0.29%  -1.64%  5.49 3.5 2,844 MVC Mabuhay Vinyl Corp. 2,000 4.2 4.3 4.2 4.3 4.29 - 8.8 5.57 22,425 AT Atlas Cons. Mng. & Dev’t. Corp. 1,942,400 6.12 6.39 6.12 6.3 6.09 304,070
Philippine Stock Index Fund Corp. (a) 814.91  0.02%  -2.75%  0.25%  -1.64%  6.1 5.17 10,931 PPC Pryce Corp. 29,300 5.61 5.7 5.61 5.7 5.7 (41,548) 6.4 2.42 1,987 BC Benguet Corp. “A” 8,500 5.1 5.3 5.09 5.3 5.15 -
Soldivo Strategic Growth Fund, Inc. (a) 0.742  1.2%  -6.54%  -2.76%  -1.41%  0.36 0.26 1,160 COAL Coal Asia Hldgs., Inc. 110,000 0.29 0.29 0.29 0.29 0.29 -
Sun Life Prosperity Phil. Equity Fund, Inc. (a) 3.7256  0.93%  -4.7%  -1.13%  -1.32% 
Electrical Components & Equipment 2.95 2.48 7,897 CPM Century Peak Metals Hldgs. Corp. 20,000 2.8 2.8 2.8 2.8 2.8 56,000
Sun Life Prosperity Phil. Stock Index Fund, Inc. (a) 0.9287  -0.43%  -3.09%  0.03%  -1.67% 
United Fund, Inc. (a) 3.3894  0.62%  -3.11%  0.77%  -1.39%  24 19.7 8,359 CIC Concepcion Ind’l. Corp. 500 20.8 20.8 20.8 20.8 20.8 - 12.78 4.57 410 DIZ Dizon Copper Silver Mines, Inc. 1,000 5.19 5.19 5.19 5.19 4.7 -
Exchange Traded Fund 4.83 2.1 5,748 GREEN Greenenergy Hldgs., Inc. 9,385,000 2.21 2.22 2.17 2.21 2.21 (8,032,860) 3.15 2.04 11,254 FNI Global Ferronickel Hldgs., Inc. 17,518,000 2.16 2.19 2.12 2.16 2.14 (3,178,520)
First Metro Phil. Equity Exchange Traded Fund, Inc. (a,c) 109.6643  0.31%  -2.52%  0.73%  -1.63%  14.84 7.5 21,308 IMI Integ. Micro-Electronics, Inc. 1,024,300 9.51 9.65 9.32 9.61 9.51 1,981,624 0.6 0.181 644 GEO GEOGRACE Res. Phils., Inc. 140,000 0.183 0.184 0.183 0.184 0.183 -
Primarily invested in foreign currency securities 1.56 0.68 611 ION Ionics, Inc. 167,000 0.71 0.73 0.69 0.73 0.68 - 0.222 0.124 5,496 LC Lepanto Cons. Mng. “A” 1,210,000 0.135 0.139 0.135 0.138 0.134 -
ATRAM AsiaPlus Equity Fund, Inc. (b) $1.1445  -11.04%  6.43%  5.59%  1.6%  6.83 5.42 512 PMPC Panasonic Mfg. Phils. Corp. 10,300 6.02 6.05 6 6.04 6 - 0.224 0.127 3,717 LCB Lepanto Cons. Mng. “B” 240,000 0.14 0.142 0.135 0.14 0.14 -
Sun Life Prosperity World Voyager Fund, Inc. (a) $1.7911  4.83%  15.55%  11.15%  -3%  1.69 1.05 2,382 SSP SFA Semicon Phils. Corp. 87,000 1.1 1.1 1.1 1.1 1.1 - 0.017 0.0086 1,542 MA Manila Mining Corp. “A” 24,000,000 0.0097 0.0099 0.0097 0.0099 0.0095 -
BALANCED FUNDS 7.93 3.5 2,600 TECH Cirtek Hldgs. Phils. Corp. 1,964,000 3.7 3.89 3.65 3.89 3.7 325,230 1.88 0.86 4,160 MARC Marcventures Hldgs., Inc. 3,366,000 1.37 1.42 1.35 1.38 1.35 -
Primarily invested in Peso securities 3.45 0.96 1,010 NI Nihao Min. Resources Int’l., Inc. 40,000 1 1.01 1 1 1 (20,040)
ATRAM Dynamic Allocation Fund, Inc. (a) 1.6849  -0.1%  -0.66%  -0.49%  -0.42%  Holding Firms 6.32 4.7 77,287 NIKL Nickel Asia Corp. 26,962,700 5.45 5.69 5.43 5.67 5.41 13,536,171
ATRAM Phil. Balanced Fund, Inc. (a) 2.2739  -1.56%  -0.26%  -0.05%  -0.33%  1.38 0.72 3,809 ABA AbaCore Capital Hldgs., Inc. 8,125,000 0.88 0.91 0.86 0.91 0.89 4,267,450 1.31 0.72 2,303 ORE Oriental Peninsula Res. Grp., Inc. 360,000 0.79 0.8 0.78 0.8 0.79 -
First Metro Save & Learn Balanced Fund, Inc. (a) 2.6698  0.47%  0.11%  1.3%  -0.79% 
9.54 5.22 1,623 ABG Asiabest Group Int’l., Inc. 52,600 5.41 5.41 5.41 5.41 5.35 - 7.41 4.24 26,431 PX Philex Mining Corp. 1,356,100 5.29 5.44 5.29 5.35 5.24 48,185
First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. (a) 0.2112  5.13%  n.a.  n.a.  1.05% 
NCM Mutual Funds of the Phils., Inc. (a) 2.0018  0.93%  1.73%  1.81%  -0.74%  903 700 539,142 AC Ayala Corp. 226,690 862 882 862 870 860 81,551,790 30.5 11.78 101,801 SCC Semirara Mng. and Power Corp. 3,305,200 24 24.65 23.7 23.95 23.8 (6,095,730)
PAMI Horizon Fund, Inc. (a) 3.7405  -2.11%  1.39%  0.61%  -0.65%  60 34 337,814 AEV Aboitiz Equity Vent., Inc. 2,366,890 59.5 60.1 59 60 59.5 (5,901,113) 0.012 0.0059 1,908 UPM United Paragon Mng. Co. 42,000,000 0.0071 0.0073 0.0071 0.0073 0.0069 -
Philam Fund, Inc. (a) 16.7321  -2.1%  0.87%  0.56%  -0.67%  12.32 9 113,820 AGI Alliance Global Group, Inc. 2,899,600 12 12.1 11.92 12.02 11.94 8,908,382
Solidaritas Fund, Inc. (a) 2.106  -0.51%  -0.65%  0.49%  -0.73%  7.95 6.1 19,850 ANS A. Soriano Corp. 33,100 7.72 7.95 7.72 7.94 7.9 (162,752) Oil
Sun Life of Canada Prosperity Balanced Fund, Inc. (a) 3.6153  0.04%  -1.65%  -0.1%  -0.87%  1.43 0.61 2,763 APO Anglo Phil. Hldgs. Corp. 82,000 0.86 0.92 0.86 0.92 0.92 - 41.8 12.22 8,325 ACEX ACE Enexor, Inc. 706,300 31.4 34 30.55 33.3 31.4 (248,450)
Sun Life Prosperity Achiever Fund 2028, Inc. (a,d) 0.9792  -4.91%  n.a.  n.a.  -1.07%  0.98 0.39 1,647 ATN ATN Hldgs., Inc. “A” 900,000 0.42 0.45 0.42 0.45 0.41 - 0.03 0.01 1,200 OPM Oriental Pet. & Min. Corp. “A” 2,900,000 0.01 0.011 0.01 0.01 0.01 -
Sun Life Prosperity Achiever Fund 2038, Inc. (a,d) 0.9332  -2.84%  n.a.  n.a.  -1.2%  5.65 4.8 37,246 COSCO Cosco Capital, Inc. 647,800 5.19 5.19 5.16 5.18 5.17 (1,589,523) 0.028 0.01 800 OPMB Oriental Pet. & Min. Corp. “B” 631,600,000 0.01 0.01 0.01 0.01 0.01 -
Sun Life Prosperity Achiever Fund 2048, Inc. (a,d) 0.9216  -2.52%  n.a.  n.a.  -1.32%  9.32 5 111,398 DMC DMCI Hldgs., Inc. 9,913,200 8.18 8.44 8.16 8.39 8.14 6,105,536 0.028 0.0087 1,804 OV The Philodrill Corp. 17,000,000 0.0094 0.0095 0.0093 0.0094 0.0095 -
Sun Life Prosperity Dynamic Fund, Inc. (a) 0.9492  5.31%  -0.39%  0.35%  -0.52%  9.2 7.41 65,036 FDC Filinvest Dev’t. Corp. 24,200 7.5 7.77 7.5 7.52 7.5 - 12.48 5.8 11,858 PXP PXP Energy Corp. 266,100 5.9 6.05 5.84 6.05 5.98 (6,596)
Primarily invested in foreign currency securities 629.5 501 121,098 GTCAP GT Capital Hldgs., Inc. 295,120 551 565 540 562.5 552 66,518,405
Cocolife Dollar Fund Builder, Inc. (a) $0.03742  -3.58%  1.85%  1.08%  -1.37% 
74.5 49.4 451,259 JGS JG Summit Hldgs., Inc. 2,694,650 58.2 60 58.2 60 58.2 67,180,891 Preferred
PAMI Asia Balanced Fund, Inc. (b) $1.0676  -10.75%  4.18%  3.45%  0.05% 
Sun Life Prosperity Dollar Advantage Fund, Inc. (a) $4.6974  2.61%  11.05%  8.2%  -2.18%  6.4 4.56 222 KPH Keppel Phil. Hldg., Inc. “A” 31,900 6.21 6.21 6.2 6.2 6.2 - 101.9 99 3,719 8990B 8990 Hldgs., Inc. Series B Perp. Pref. 500 100.5 100.5 100.5 100.5 101.5 -
Sun Life Prosperity Dollar Wellspring Fund, Inc. (a,2) $1.1794  -0.67%  5.9%  4.16%  -1.6%  1.8 0.62 1,860 LODE Lodestar Invest. Hldg. Corp. “A” 103,000 0.62 0.64 0.62 0.62 0.65 - 102 98.1 5,050 8990P 8990 Hldgs., Inc. Series A Perp. Pref. 10,000 100.9 101 100.9 101 100.9 -
BOND FUNDS 3.8 2.9 14,081 LPZ Lopez Hldgs. Corp. 23,000 3.14 3.14 3.1 3.1 3.1 -
 525 502.5 3,150 ALCPD Arthaland Corp. Perpetual Pref “D” 390 525 525 525 525 525 -
Primarily invested in Peso securities 15 8.51 107,024 LT Group,Inc. LTG 2,279,700 9.92 10.02 9.89 9.89 9.89 ( 1,545,735) 105 100 1,380 BRNP A Brown Company, Inc. Series A Pref. 1,000 103.3 104 103.3 104 102.8 -
ALFM Peso Bond Fund, Inc. (a) 374.38  0.88%  2.88%  2.55%  0.02%  4.45 3.5 119,980 MPI Metro Pac. Inv. Corp. 8,713,000 3.95 3.99 3.94 3.99 3.9 13,658,820 53.05 38.6 13,481 CEBCP Cebu Air, Inc. Convertible Pref. 262,300 41.9 42.5 41.5 42.5 41.9 (9,386,765)
ATRAM Corporate Bond Fund, Inc. (a) 1.8856  -0.84%  0.57%  0.05%  0.05%  4.2 0.83 861 PRIM Prime Media Hldgs., Inc. 142,000 1.19 1.23 1.16 1.23 1.19 - 105.5 100 3,090 CPGP Century Properties Group, Inc. Pref. A 260 103 103 102 103 103 -
Cocolife Fixed Income Fund, Inc. (a) 3.2461  0.94%  2.94%  3.87%  0.06%  1.44 1.06 2,077 SGI Solid Group, Inc. 8,000 1.14 1.14 1.09 1.14 1.09 - 102.8 100 10,070 DDPR DoubleDragon Prop. Corp. Pref. 29,040 100.8 100.9 100.7 100.7 101.2 509,045
Ekklesia Mutual Fund, Inc. (a) 2.2521  -1.84%  1.8%  1.4%  0.03%  1,079 900 1,144,354 SM SM Investments Corp. 276,460 941 963.5 941 950 950 8,745,080 107.5 105.6 4,815 EEIPB EEI Corp. Series B Pref. 990 107 107 107 107 107 -
First Metro Save & Learn Fixed Income Fund, Inc. (a) 2.4277  -0.92%  3.11%  1.86%  0.07%  129 102.3 263,541 SMC San Miguel Corp. 632,450 111.2 111.3 109.3 110.8 111 (42,505,082) 111.6 100 6,794 FGENG First Gen Corp. Pref. G 34,330 105 105 102 102 102.3 -
Philam Bond Fund, Inc. (a) 4.3998  -4.92%  4.94%  1.46%  0.1%  143 121 42,243 TFHI Top Frontier Inves. Hldgs., Inc. 4,420 125 126.9 125 126.9 126.9 - 103 98 1,758 MWP2B Megawide Const. Corp. Series 2B Pref. 10 101 101 101 101 101 -
Philam Managed Income Fund, Inc. (a) 1.322  0.12%  3.95%  2.88%  0.22%  101 100 4,020 MWP4 Megawide Const. Corp. Series 4 Pref. 2,600 99 100.5 99 100.5 100.5 -

Philequity Peso Bond Fund, Inc. (a) 3.9765  -0.19%  3.95%  2.68%  0.27% 
Soldivo Bond Fund, Inc. (a) 1.0293  -0.95%  4.69%  1.98%  0.11%  108 101 758 PNX3B Phoenix Pet.-Non-Voting Pref. 3B 4,980 101 101 101 101 101 -
Sun Life Prosperity Bond Fund, Inc. (a) 3.19  -0.25%  4.6%  3.19%  0.08%  Property 1,019 987.5 6,972 PNX4 Phoenix Petroleum - Perpetual Pref. 4 9,260 995 997 995 996 998 -
Sun Life Prosperity GS Fund, Inc. (a) 1.7338  -0.78%  3.77%  2.58%  0.18%  0.77 0.61 3,404 ALCO Arthaland Corp. 242,000 0.64 0.64 0.61 0.64 0.64 4,490 1,145 1,000 14,194 PRF3A Petron Corp. - Perp. Pref. Series 3A 740 1,043 1,059 1,043 1,059 1,040 -
Primarily invested in foreign currency securities 40.75 31.2 529,718 ALI Ayala Land, Inc. 7,265,700 35.6 35.8 35.3 35.8 35.6 32,589,590 1,199 1,070 7,257 PRF3B Petron Corp. - Perp. Pref. Series 3B 415 1,145 1,145 1,100 1,100 1,095 -
ALFM Dollar Bond Fund, Inc. (a) $489.12  1.24%  2.9%  2.43%  -0.09%  6.73 2.7 39,196 ALLHC AyalaLand Logistics Hldgs. Corp. 3,035,800 6.11 6.26 6.11 6.22 6.1 (6,069,707) 80 77.3 17,777 SMC2F San Miguel Corp. Series 2-F Pref. 29,640 79 79.6 79 79.6 79.65 -
ALFM Euro Bond Fund, Inc. (a) €219.59  0.1%  1.12%  0.97%  -0.19%  1.52 0.96 1,873 ARA Araneta Properties, Inc. 68,000 0.96 1.02 0.96 0.96 1.02 - 79 75.6 12,546 SMC2H San Miguel Corp. Series 2-H Pref. 80 76.5 76.5 76.5 76.5 76.5 -
ATRAM Total Return Bond Fund, Inc. (b) $1.2  -5.09%  2.01%  1.61%  -0.32%  50.2 29.9 75,144 AREIT AREIT, Inc. 591,400 50 50 49.65 49.8 50 4,549,691 80 75.2 20,560 SMC2J San Miguel Corp. Series 2-J Pref. 510 77.1 77.1 77.1 77.1 76.45 -
First Metro Save and Learn Dollar Bond Fund, Inc. (a) $0.0259  -1.52%  1.32%  0.87%  -0.38%  1.04 0.77 1,943 BRN A Brown Co., Inc. 4,000 0.77 0.81 0.77 0.81 0.79 - 77.1 75.05 13,977 SMC2K San Miguel Corp. Series 2-K Pref. 160 76 76 76 76 75.85 -
PAMI Global Bond Fund, Inc. (b) $1.0105  -7.05%  -0.89%  -0.94%  -1.2%  1.19 0.72 3,544 CDC Cityland Dev’t. Corp. 13,000 0.73 0.73 0.73 0.73 0.73 -
Philam Dollar Bond Fund, Inc. (a) $2.4693  -1.65%  4.11%  2.29%  -1.45%  0.18 0.098 1,511 CEI Crown Equities, Inc. 380,000 0.101 0.101 0.098 0.101 0.101 (3,920) Phil. Deposit Receipts
Philequity Dollar Income Fund, Inc. (a) $0.062256  0.09%  2.97%  1.95%  -0.06% 
4.08 2.22 10,074 CLI Cebu Landmasters, Inc. 406,000 2.9 2.91 2.86 2.91 2.86 (78,210) 15.44 10.1 3,579 ABSP ABS-CBN Hldgs. Corp. “PDR” 3,000 13 13 13 13 13 -
Sun Life Prosperity Dollar Abundance Fund, Inc. (a) $3.1326  -1.78%  2.87%  1.14%  -1.99% 
MONEY MARKET FUNDS 0.57 0.38 4,640 CPG Century Prop. Group, Inc. 2,540,000 0.4 0.4 0.4 0.4 0.4 (39,650) 15.04 5.9 6,567 GMAP GMA Hldgs., Inc. “PDR” 47,200 14.1 14.1 13.72 13.8 14.1 -
Primarily invested in Peso securities 15.84 6.9 17,094 DD DoubleDragon Prop. Corp. 108,100 7.12 7.28 7.06 7.22 7.18 28,866
ALFM Money Market Fund, Inc. (a) 131.24  1.05%  2.74%  2.56%  0.04%  2.28 1.77 32,089 DDMPR DDMP REIT, Inc. 9,077,000 1.79 1.8 1.78 1.8 1.79 357,440 Warrants
First Metro Save and Learn Money Market Fund, Inc. (a) 1.0583  0.96%  n.a.  n.a.  0.06%  7.25 6.35 23,024 DMW D.M. Wenceslao and Associates, Inc. 74,900 6.78 6.78 6.76 6.78 6.78 - 1.9 0.76 220 TECHW Cirtek Holdings Phils. Corp.-Wrnts. 678,000 0.84 0.88 0.84 0.88 0.83 (3,520)
Sun Life Prosperity Peso Starter Fund, Inc. (a,1) 1.3163  1.46%  2.56%  2.53%  0.05%  0.34 0.25 3,816 ELI Empire East Land Hldgs., Inc. 160,000 0.26 0.26 0.26 0.26 0.25 -
Primarily invested in foreign currency securities 0.68 0.085 1,575 EVER Ever-Gotesco Res. & Hldgs., Inc. 10,620,000 0.32 0.32 0.3 0.32 0.32 (315,000) Small and Medium Enterprises
Sun Life Prosperity Dollar Starter Fund, Inc. (a) $1.0607  0.75%  1.43%  n.a.  0.01%  7.98 7.02 37,919 FILRT Filinvest REIT, Corp. 4,152,900 7.75 7.85 7.75 7.75 7.75 1,548,628 28.6 12.84 1,888 APVI Altus Property Ventures, Inc. 140,800 19.04 19.04 18.7 18.88 19.04 -
FEEDER FUND 1.22 1.06 26,675 FLI Filinvest Land, Inc. 6,191,000 1.1 1.11 1.09 1.1 1.11 (951,810) 2.58 1.16 755 IDC Italpinas Dev’t. Corp. 454,000 1.22 1.22 1.18 1.2 1.2 -
Primarily invested in Peso securities 1.33 0.8 10,217 GERI Global-Estate Resorts, Inc. 407,000 0.93 0.94 0.93 0.93 0.95 - 6.64 2.8 573 KPPI Kepwealth Property Phils., Inc. 9,000 2.82 2.85 2.82 2.85 2.87 -
Sun Life Prosperity World Equity Index Feeder Fund, Inc. (a,d) 1.3837  19.73%  n.a.  n.a.  0.06%  11.92 7 64,158 HOUSE 8990 Hldgs., Inc. 134,600 11.8 11.9 11.68 11.9 11.84 158,224 7.85 2.3 18,000 MM MerryMart Consumer Corp. 5,815,000 2.35 2.4 2.32 2.37 2.34 321,800
Primarily invested in foreign currency securities 1.67 1.09 6,850 IRC Phil. Infradev Hldgs., Inc. 168,000 1.14 1.15 1.13 1.13 1.13 -
ALFM Global Multi-Asset Income Fund Inc. (a,d)   $0.97  -2.02%  n.a.  n.a.  0%
2.9 0.68 1,274 LAND City and Land Developers, Inc. 13,000 0.9 0.91 0.89 0.89 0.92 - Exchange Traded Funds
a - NAVPS as of the previous banking day b - NAVPS as of 2 banking days ago 4.3 2.6 103,535 MEG Megaworld Corp. 25,273,000 3.15 3.26 3.13 3.25 3.14 13,936,060 113.2 94 2,249 FMETF First Metro Phil. Equity ETF, Inc. 17,100 109.3 111 109.3 111 109.3 129,646
c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 0.88 0.226 1,958 MRC MRC Allied, Inc. 6,920,000 0.225 0.234 0.222 0.23 0.226 -
1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.)
2- Adjusted due to stock dividend issuance last November 25, 2021 20.25 16.7 51,275 MREIT MREIT, Inc. 972,400 20.15 20.6 20 20.25 20.15 2,185,535 Dollar Denominated Securities
“While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) 0.53 0.32 368 OM Omico Corp. 10,000 0.35 0.35 0.35 0.35 0.35 - 10.5 9.4 204 DMPA1 Del Monte Pacific Ltd A-1 Pref.(USD) 6,230 9.73 10.2 9.72 10.2 9.4 -
and its members make no warranties as to the correctness of the newspaper’s publication and assume no 1.08 0.48 1,431 PHES Philippine Estate Corp. 3,004,000 0.49 0.49 0.48 0.49 0.5 24,250 10.8 9.95 108 DMPA2 Del Monte Pacific Ltd A-2 Pref. (USD) 4,670 10.8 10.8 10.8 10.8 10.8 -
liability or responsibility for any error or omissions. You may visit http://www.pifa.com.ph to see the latest 3.95 1.24 3,722 PRMX Primex Corp. 2,628,000 2.15 2.25 2.11 2.24 2.15 (866,450) 1.1 0.46 67 TCB2A Cirtek Holdings - Pref B-2 A (USD) 31,160 1 1 1 1 1 -
NAVPS/NAVPU.”
EDITOR FRANCISCO P. BALTAZAR FRIDAY, JANUARY 14, 2022 World Markets S2/3

Oil jumps 2% on US crude

DOW JONES NASDAQ COMPOSITE FTSE
30 days to JANUARY 12, 2022 30 days to JANUARY 12, 2022 30 days to JANUARY 12, 2022 SPOT PRICES
WEDNESDAY, JANUARY 12, 2022
METAL

drawdown, weak dollar

OPEN: 36,336.16 CLOSE: 36,290.32
HIGH: 36,453.49 NET: 38.30
LOW: 36,168.15 PREV: 36,252.02
OPEN: 15,263.10 CLOSE: 15,188.39
HIGH: 15,319.03 NET: 34.94
LOW: 15,117.29 PREV: 15,153.45
OPEN: 7,491.37 CLOSE: 7,551.72
HIGH: 7,564.20 NET: 60.35
LOW: 7,491.37 PREV: 7,491.37
PALLADIUM free $/troy oz 1,935.00
PALLADIUM JMI base, $/troy oz 1,944.00
PLATINUM free $/troy oz 986.31
PLATINUM JMI base $/troy oz 988.00
KRUGGERAND, fob $/troy oz 1,821.00
IRIDIUM, whs rot, $/troy oz 3,990.00
RHODIUM, whs rot, $/troy oz 16,740.00
GRAINS (JANUARY 6, 2022) NEW YORK — Oil prices hit two- ASIA-DUBAI NEW YORK-WTI LONDON-BRENT
month highs on Wednesday on (JANUARY CONTRACT) (FEBRUARY CONTRACT) (MARCH CONTRACT)
(FOB Bangkok basis at every Thursday)
FRAGRANT (100%) 1st Class, $/ton 734.00 tight supply as crude inventories 30 days to January 12, 2022 30 days to January 12, 2022 30 days to January 12, 2022
FRAGRANT (100%) 2nd Class, $/ton 687.00 in the United States, the world’s
RICE (5%) White Thai- $/ton 419.00 top consumer, fell to their lowest
RICE (10%) White Thai- $/ton 416.00 since 2018, and as the dollar weak-

Wall St. rises as inflation

RICE (15%) White Thai- $/ton 415.00 ened and worries eased about the
RICE (25%) White Thai- $/ton (Super) 415.00 Omicron coronavirus variant.
BROKER RICE A-1 Super $/ton 383.00
US crude inventories fell 4.6

data support Fed bets

FOOD
COCOA ICCO Dly (SDR/mt) 1,778.19
COCOA ICCO $/mt 2,490.14
COFFEE ICA comp ‘2001 cts/lb 206.52
US STOCK indexes rose on The Dow Jones Industrial Av- SUGAR ISA FOB Daily Price, Carib. port cts/lb 17.87
Wednesday after data showed erage rose 38.30 points or 0.11% SUGAR ISA 15-day ave. 18.41
million barrels last week to 413.3
million barrels, their lowest since
October 2018, the Energy Infor-
mation Administration (EIA) said.
Analysts had forecast in a Reuters DOLLARS PER BBL DOLLARS PER BBL DOLLARS PER BBL

that while US inflation was at its to 36,290.32; the S&P 500 gained poll a 1.9 million-barrel drop. Jan. 6 7 10 11 12 Jan. 6 7 10 11 12 Jan. 6 7 10 11 12

highest in decades, it largely met
economists’ expectations, cool-
ing some fears that the Federal
Reserve would have to pull back
support even more forcibly than
already expected.
Ten out of the 11 major S&P sec-
tors finished higher after the news
with the S&P 500 and the Nasdaq
outperforming the Dow as growth
stocks outperformed value.
Data from the Labor Depart-
ment showed the consumer
price index (CPI) increased
0.5% last month after rising
0.8% in November, while in the
12 months through December,
the CPI surged 7.0% to its high-
est year-on-year rise in nearly
13.28 points or 0.28% to 4,726.35;
and the Nasdaq Composite added
34.94 points or 0.23% to 15,188.39.
The S&P’s top sector gain-
ers of the day were materials,
up almost 1%, consumer discre-
tionary, up 0.6% and technology
which rose 0.4%.
Growth and technology stocks
have been staging a comeback
this week, with investors watch-
ing a variety of metrics to decide
whether to buy the rally or brace
for more declines.
Also on the watchlist for this
week is the unofficial kick-off of
the fourth quarter earnings season
with JPMorgan Chase & Co., Citi-
group, Inc. and Morgan Stanley due
LIFFE COFFEE Brent crude futures settled
$/bbl 78.80 80.58 80.34 79.90 82.21 $/bbl 79.46 78.90 78.23 81.22 82.64 $/bbl 81.99 81.75 80.87 83.72 84.67
Average (Jan. 3-12) $79.33 Average (Jan. 3-12) $78.92 Average (Jan. 3-12) $81.60
New Robusta 10 MT - $/ton up 95 cents or 1.1% at $84.67 a Average (Dec. 1-31) $73.18 Average (Dec. 1-31) $71.69 Average (Dec. 1-31) $74.81
High Low Sett Psett
barrel. US West Texas Intermedi- Source: REUTERS
Jan. 2225 2195 2216 2199
Mar. 2298 2270 2282 2268 ate (WTI) crude futures were up
May 2244 2221 2233 2216 $1.42 or 1.8% at $82.64. US crude inventories have output while Iranian exports are
July 2231 2209 2221 2204 The falling dollar was the main dropped for seven consecutive pinned back by US sanctions.
driver of higher oil prices, over- weeks, and overall inventories Though OPEC+ is raising out-
LIFFE COCOA taking even the EIA draw, Kpler’s have been tightening across put targets each month, technical
(Ldn)-10 MT-£/ton Smith said. A weaker greenback the globe as major producers difficulties have prevented several
High Low Sett Psett makes dollar-denominated oil struggle to increase supply even countries from hitting their quotas.
Mar. 1727 1703 1707 1718
contracts cheaper for holders of as demand rises despite rising US Federal Reserve Chairman
May 1755 1736 1740 1746
July 1756 1739 1741 1747 other currencies. cases of Omicron. Jerome Powell said the US economy
Sept. 1749 1734 1736 1742 The dollar fell to a fresh two- OPEC+ producers, the Organi- should weather the current coro-
month low against a basket of zation of the Petroleum Export- navirus disease 2019 (COVID-19)
COCONUT currencies after data showed US ing Countries and its allies, are surge with only “short-lived” im-
MANILA COPRA (based on 6% moisture) consumer prices rose solidly in still holding back more than 3 pact and is ready for the start of
Peso/100kg Buyer/Seller December. million barrels per day (bpd) in tighter monetary policy. — Reuters
Lag/Qzn/Luc 5,100.00/5,150.00
Philippine Coconut Oil - Crude

Gold bullion ends up as dollar retreats

four decades.
Economists polled by Reuters
had forecast a CPI gain of 0.4% for
December and 7.0% on a year-on-
year basis.
The central bank’s plan for
easing accommodation to fight
inflation includes raising interest
rates, which analysts expect to
start as soon as March, as well as
tapering its bond buying program
and reducing its asset holdings.
For most stock sectors it
also helped that longer-dated
US Treasury yields dipped on
Wednesday. In recent weeks,
sharp gains in the US 10-year
yield had weighed on stocks, par-
ticularly in rate-sensitive growth
sectors like technology.
to report their results on Friday.
The healthcare index, was
weighed down by shares of drug-
maker Eli Lilly, which closed
down 2.4% and was the biggest
single weight on the S&P, and Bio-
gen, which lost 6.7%.
Advancing issues outnum-
bered declining ones on the NYSE
by a 1.26-to-1 ratio; on Nasdaq, a
1.37-to-1 ratio favored decliners.
The S&P 500 posted 38 new
52-week high and 1 new lows; the
Nasdaq Composite recorded 60
new highs and 137 new lows.
On US exchanges, 10.251 bil-
lion shares changed hands com-
pared with the 10.496 billion
average for the last 20 sessions.
— Reuters
CIF NY/NOLA 80.50
FOB RAIL/NOLA 82.00
COCONUT OIL (PHIL/IDN),$ per ton,
CIF Europe
Jan./Feb.’22 0.00/1,860.00
GOLD firmed on Wednesday as inflation posted its largest an- Meger, director of metals trad-
Feb./Mar.’22 1,770.00/1,840.00 data showing US inflation was nual rise in nearly four decades, ing at High Ridge Futures.
Mar./Apr.’22 1,795.00/1,830.00 within expectations dented the making gold more attractive “Gold seems like it is in a
Apr./May’22 1,750.00/1,800.00 dollar and prompted buying for overseas investors. The US good place as Treasury yields
from investors who seemed to benchmark 10-year yield also won’t be rallying much higher
have priced in the Federal Re- slipped. until financial markets have bal-
LONDON METAL
EXCHANGE serve’s likely interest rate hike While gold is considered a ance sheet runoff certainty and
trajectory. hedge against soaring inflation, that won’t happen until at least
LME FINAL CLOSING PRICES, US$/MT
Spot gold was last up 0.2% a resultant hike in interest rates a couple more Fed meetings,”
3 MOS
ALUMINUM H.G. 2,982.50 at $1,825.83 per ounce by 14:11 translates into increased op- Edward Moya, senior market
ALUMINUM Alloy 2,300.00 ET (1911 GMT), extending gains portunity cost of holding non- analyst at brokerage OANDA,
COPPER 10,064.00 a f ter r isi ng t he most si nce interest bearing bullion. said in a note.
LEAD 2,346.00 mid-December on Tuesday. US But the building inflationary Spot silver was up 1.7%
NICKEL 22,064.00 gold futures settled up 0.5% at pressures are likely to keep gold at $23.16 an ounce, platinum
TIN 41,402.00 $1,827.3. supported in the coming weeks, gained 0.9% to $979.39, while
ZINC 3,552.00 T he dol la r fel l to a t wo - pushing it above technical resis- p a l l a d i u m d i p p e d 0. 5 % t o
month low after data showed US tance around $1,830, said David $1,911.09. — Reuters

Nickel and copper prices march to

decade peaks on supply concerns
LONDON — Nickel prices surged to their some of which will benefit industrial metals,”
highest in a decade on Wednesday and copper Mr. Hansen added.
broke back through $10,000 a ton on renewed In China, nickel prices leapt to a record
supply fears as inventories dwindle. high, with the February contract on the
Industrial metals were also buoyed by eas- Shanghai Futures Exchange (ShFE) ending
ing concerns over economic growth in top daytime trading 3.8% up at 162,340 yuan Please be advised that BusinessWorld will be migrating
metals consumer China. ($25,510) a ton.
Three-month nickel on the London Metal LME copper gained 3.5% to $10,059 a ton, to a new trunkline number effective January 16, 2022.
Exchange (LME) jumped as much as 4.4% to trading above the key psychological level for
$22,745 a ton, its highest since August 2011. the first time since Oct. 21.
It pared gains to stand at $22,085 by 1700
GMT, up 1.3%.
Nickel stocks in LME warehouses have
halved over the past five months to 99,462
You may call:
“The battery king, nickel, has been the ini- tons, their lowest since December 2019, while
tial driver, breaking above that $21,000 level,
gapping higher, and now the rally is filtering
refined nickel inventories in ShFE warehous-
es held close to a record low of 4,455 tons hit NEW TRUNKLINE NUMBER
8527-7777
through to copper and the others,” said Ole in August 2021.
Hansen, head of commodity strategy at Saxo LME cash nickel climbed to a premium of
Bank in Copenhagen. $192 a ton over the three-month contract, its
Nickel’s sharp gains were partly fueled by highest since October 2019, indicating tight
speculators buying back bearish positions, near-term supplies.
broker Marex said in a note.
“The focus in China is moving away from
LME aluminum rose 0.2% to $2,974.50 and
lead climbed 1.9% to $2,344, but zinc dipped LOCALS:
worries about the property sector slowdown 0.1% to $3,554.
to increased signs that they are going to pro-
vide stimulus and support to the economy,
Tin touched a record high of $41,600 a ton
and was last up 2.4% at $41,420. — Reuters
Editorial - 2626
us commodity futures
Source: REUTERS
WEDNESDAY, JANUARY 12, 2022
Advertising - 2619 • 2613 • 2202
PLATINUM
(JANUARY CONTRACT)
GOLD
(JANUARY CONTRACT)
SILVER
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COPPER
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OPEN: 964.70 CLOSE: 979.90 OPEN: 1,819.00 CLOSE: 1,827.20 OPEN: 22.820 CLOSE: 23.207 OPEN: 4.419 CLOSE: 4.564
HIGH: 977.70 NET: 6.10 HIGH: 1,827.10 NET: 8.60 HIGH: 23.260 NET: 0.395 HIGH: 4.581 NET: 0.144
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OPEN: 238.25 CLOSE: 240.85 OPEN: 18.19 CLOSE: 18.34 OPEN: 2,595.00 CLOSE: 2,559.00 OPEN: 768.00 CLOSE: 757.75
HIGH: 244.90 NET: 3.80 HIGH: 18.47 NET: 0.23 HIGH: 2,610.00 NET: -29.00 HIGH: 770.00 NET: -12.50
LOW: 238.00 PREV: 237.05 LOW: 18.15 PREV: 18.11 LOW: 2,550.00 PREV: 2,588.00 LOW: 753.50 PREV: 770.25
4/S2 FRIDAY, JANUARY 14, 2022
FRIDAY, JANUARY 14, 2022 S2/5
6/S2 FRIDAY, JANUARY 14, 2022
FRIDAY, JANUARY 14, 2022 S2/7
 Key nominations for the 2022
8/S2 FRIDAY, JANUARY 14, 2022 Screen Actors Guild awards
• BEST MOVIE CAST: Story; Kirsten Dunst, The Power
Belfast, Coda, Don’t of the Dog; Ruth Negga, Passing

House of Gucci and Lady Gaga

Look Up, House of Gucci, • BEST SUPPORTING ACTOR,
King Richard MOVIE: Ben Affleck, The Tender
• BEST TELEVISION Bar; Bradley Cooper, Licorice
DRAMA SERIES CAST: Pizza; Troy Kotsur, CODA; Jared

land SAG award nominations

LOS ANGELES — High fashion
drama House of Gucci led the
nominations on Wednesday
for Hollywood’s Screen Ac-
tors Guild Awards (SAG),
scoring nods for the top prize
of best cast and for the per-
formances of stars Lady Gaga
and Jared Leto.
The awards, voted on by
members of the SAG-AFTRA
acting union, a re closely
watched a s indicators of
which movies will fare well
at the Oscars ceremony in
Benedict Cumberbatch,
Kirsten Dunst, a nd Kodi
Smit-McPhee. But it was shut
out of the contenders vying
for best cast, as was Steven
Spielberg ’s cr itica l ly ac-
claimed remake of musical
West Side Story.
The films that will chal-
lenge Gucci for best movie
cast are Belfast about a fam-
ily living amid conf lict in
late 1960s Northern Ireland;
deaf community story CODA;
King Richard about the father
outsider who married into
the family only to have her
former spouse, played by
Adam Driver, killed off. Mr.
Leto portrays misunderstood
designer Paolo Gucci.
Other film acting nomi-
nees included Ben Affleck for
his turn as a caring uncle in
The Tender Bar, Will Smith
for the title role in King
Richard, and Nicole Kidman
and Javier Bardem for their
portrayals of Lucille Ball and
Desi Arnaz in Being the Ri-
The Handmaid’s Tale, The
Morning Show, Squid Game,
Succession, Yellowstone
• BEST TELEVISION COMEDY
SERIES ENSEMBLE: The Great,
Hacks, The Kominsky Method,
at a live televised ceremony Only Murders in the Building,
on Feb. 27, one month Ted Lasso
ahead of the Oscars. • BEST ACTOR, MOVIE: Javier Bar-
N e t f l i x s c or e d t h e dem, Being the Ricardos; Bene-
most SAG movie nomina- dict Cumberbatch, The Power of
tions of any film studio, the Dog; Andrew Garfield, Tick,
with seven in total, while Tick ... Boom!; Will Smith, King
HBO and HBO Max topped Richard; Denzel Washington, The
the television field with 14 Tragedy of Macbeth
nods. • BEST ACTRESS, MOVIE: Jessica
The television nomina- Chastain, The Eyes of Tammy
tions included five each for Faye; Olivia Colman, The Lost
cutthroat corporate fam- Daughter; Lady Gaga, House of
ily drama Succession and Gucci; Jennifer Hudson, Respect;
feel-good fish-out-of-water Nicole Kidman, Being the
Leto, House of Gucci; Kodi Smit-
McPhee, The Power of the Dog
• BEST ACTRESS, TV DRAMA: Jen-
nifer Aniston, The Morning Show;
Jung Ho-Yeon, Squid Game;
Elisabeth Moss, The Handmaid’s
Tale; Sarah Snook, Succession;
Reese Witherspoon, The Morning
Show
• BEST ACTOR, TV DRAMA: Brian
Cox, Succession; Billy Crudup,
The Morning Show; Kieran Culkin,
Succession; Lee Jung-Jae, Squid
Game; Jeremy Strong, Succession
• BEST ACTRESS, TV COMEDY: Elle
Fanning, The Great; Sandra Oh,
The Chair; Jean Smart, Hacks;
Juno Temple, Ted Lasso; Hannah
Waddingham, Ted Lasso
• BEST ACTOR, TV COMEDY:
Michael Douglas, The Kominsky

March. Actors form the larg-
est group that will vote for
the Academy Awards.
Dark Western The Power
of the Dog also received three
SAG nominations for actors
of tennis stars Venus and Ser-
ena Williams; and Don’t Look
Up, a comedy that is an al-
legory about climate change.
In Gucci, Ms. Gaga plays Pa-
trizia Reggiani, an ambitious
cardos.
West Side Story received
one nomination for support-
ing actress Ariana DeBose.
T he S AG Aw a r d s a r e
scheduled to be handed out
SAG-AFTRA
comedy Ted Lasso. South Ko- Ricardos Method; Brett Goldstein, Ted Las-
rean dark drama Squid Game • BEST SUPPORTING ACTRESS, so; Steve Martin, Only Murders in
landed four nominations MOVIE: Caitriona Balfe, Belfast; the Building; Martin Short, Only
including Best T V Cate Blanchett, Nightmare Al- Murders in the Building; Jason
Drama Series Cast. ley; Ariana DeBose, West Side Sudeikis, Ted Lasso — Reuters
— Reuters

EntertainmentNews
100 Days of Fundraising
activities for Odette survivors
ALMOST a month after losing their homes, livelihoods, and
loved ones, there are around 1.4 million Filipino families in
areas devastated by Super Typhoon Odette who are still
struggling to rebuild their lives in the face of the coronavi-
rus disease 2019 (COVID-19) pandemic. To help them get
back on their feet, ABS-CBN has launched “Tulong-Tulong
sa Pag-ahon: Isang Daan Sa Pagtutulungan,” a series of
fundraising activities over 100 days conducted by different
groups within ABS-CBN, starting with ABS-CBN shows
voucher will provide a food pack of 5 kilos of rice and six
canned goods for one family. Donors to the Tulong-Tulong
sa Pag-Ahon campaign called Andito Tayo Para sa Bawat
Pamilya, which has raised P56,575,497 in cash donations
and P9,062,614 of in-kind donations since December, can
make deposits to the accounts of ABS-CBN Lingkod Ka-
pamilya Foundation, Inc. through BDO (0039302-14711),
BPI (4221-0000-27), PNB (1263-7000-4128), GCash, Pay-
Maya, and PayPal accounts. International donations may
be coursed through abscbnfoundation.org.

PLAYSTATION.COM
and stars, with the goal of providing assistance to 100,000
affected families. “Isang Daan Sa Pagtutulungan,” which
marks the second phase of ABS-CBN and ABS-CBN Foun-
GUARDIANS OF THE GALAXY
dation’s online fund drive for Odette survivors, runs from
Jan. 9 to April 18. It kicked off with By Request: A Benefit
Concert featuring Regine Velasquez-Alcasid on FYE Chan-
nel on Kumu, the ABS-CBN Entertainment Facebook Sleek, stylish, and witty
S
page and YouTube channel, and iWantTFC. By Request is
being held every night at 8 p.m. until Jan. 18 with different QUARE Enix and Eidos Montreal’s Guardians of the THE GOOD:
ASAP Natin ‘To performers encouraging viewers to sup- GMA Network’s 2022 lineup Galaxy might not have the participation of the movie’s • Knocks your socks off with its great voice acting and
port the cause via virtual gifts on Kumu, Facebook stars, GMA NETWORK has a fresh roster of programs for 2022. cast, but it exudes no small measure of charm all the witty dialogue
YouTube donate button, and QR codes while fulfilling song On GMA Afternoon Prime, catch the return of the top-rating same. Following the story of Star-Lord and his ragtag bunch • Solid combat and exploration
requests. Other activities during the 100 days include an series Prima Donnas on Jan. 17, starring Jillian Ward, Althea of misfit friends, it throws you into the thick of things. You • Excellent storyline, with a heady mix of serious plot
Online Tindahan (store) from Pinoy Big Brother Kumunity Ablan, and Sofia Pablo. It will also offer the drama series must brawl, shoot, and explore your surroundings as best as points and funny jokes
Season 10, Busog sa Pagtulong from Magandang Buhay, Artikulo 247 airing on Feb. 14, starring by Rhian Ramos, Ben- you can, all while enjoying the excellent writing.
Kilig Match featuring the network’s love teams, Truth or jamin Alves, Kris Bernal, and Mark Herras. Leading the lineup It’s clear from the onset what Guardians of the Galaxy THE BAD:
Dare with leading men, and an execution from teleseryes. of weekend game and variety shows is Family Feud, a popu- focuses on. Centered around protagonists Star-Lord, • Gameplay feels a little too shallow
There will also be a Metro Fire Sale, Boom! lar franchise game show where two families Gamora, Rocket, Groot, and Drax, it puts its proverbial • Can get repetitive
Pa-Mine from It’s Showtime and an Esports FULL STORY compete by giving the most popular answer best foot forward by bringing all these unique personalities • Cutscenes can take a while
charity event, while ABS-CBN News and to survey questions. The Philippine franchise to life in-game. The witty banter between them during
ABS-CBN Regional will deliver stories about of the SBS Korea Original Running Man airs cutscenes or while in combat is all in character, and their RATING: 8/10
the beneficiaries. The 100 days of activities this year. Also to be launched this year is an unique abilities and animations help set them apart even
will culminate with a major event in April. innovative singing contest Sing for Hearts, and further. Their gags and dialogue are POSTSCRIPT: It’s hard to narrow down
consistent, with alternating goofy and Super Robot Wars 30’s best points. The
Tulong Bag donation vouchers are now avail-
able on Lazada and Shopee. A P100 voucher
Read the full story by
scanning the QR code with
Guinness World Records “Best of the Best” in
The Best Ka!, and the live-action adaptation of serious moments dotted throughout the GAME TIME Super Robot Wars (SRW) series itself is
will provide a food pack containing 1 kilo of your smartphone or by the hit Japanese animé series Voltes V: Legacy. game to keep the tone interesting. ALEXANDER O. CUAYCONG already well known for its tactical game-
rice and two canned goods for an individual, typing the link Top-rating family fantasy drama Agimat ng These characteristics also work to and ANTHONY L. CUAYCONG play and its clear homage to the mecha
<https://bit.ly/3I1SrSY>
while the P400 Tulong Family Bag donation Agila Season 2 returns on weekends. help you. You control only Star-Lord, animé genre. It wears its inspirations on
but you’re able to ask the assistance of VIDEO GAME REVIEW its shoulders with pride, making it a one-
the others to assist you during fights, of-a-kind game franchise that’s able to
Guardians of the Galaxy
or to help solve the plethora of envi- lure in new fans with its deep, engaging,
z ronmental puzzles in Guardians of Sony PlayStation 5
Pinoy Sudoku
tactical battles and, at the same time, ap-
the Galaxy. Someone like Drax uses pease old ones with its solid writing. One
Super Robot Wars 30
his brute strength to take opponents would expect Super Robot Wars 30 to do
down, but can also lift heavier objects Personal Computer via Steam the same, and it does. But more than just
to help you proceed. The same goes
Standard Sudoku. Fill in the grid so Disgaea 6: Defiance of Destiny follow in the footsteps of its predeces-
that every row, every column, and every with Groot, who uses elongating limbs sors, it openly celebrates the best parts
3x3 box contains the digits 1 to 9. to help bridge gaps or provide crowd Nintendo Switch in the series.
control. Super Robot Wars 30 starts off small,
YESTERDAY’S ANSWER In fact, the Devil-May-Cry-like combo system encour- letting players pick the character route they want to tra-
ages you to actively work with your team. By using their verse initially. However, the roster soon opens up, with
special abilities while simultaneously fighting and mixing different characters from Japan’s most famous mecha
in your own combos, you build towards striking against franchises eventually becoming available to recruit. These
the game’s stronger foes. The mechanics are pretty neat, if characters bring with them their own unique abilities and
uncomplicated, and really hammers home the point that skill sets, giving new recruits a specific role to fulfill with
Guardians of the Galaxy isn’t so much just Star-Lord but very little overlap. It’s up to the player to decide who to use,
that of the entire squad proving that it’s collectively greater which characters to bring to each stage, and what strategy
than the sum of its parts. to use to achieve victory,
When you’re not bashing in enemies, you’re dealing It all sounds pretty simple at first. Many other tacti-
with the environments. None of them are particularly cal role-playing games, including those from the Fire
challenging to navigate, but exploring tends to reward you Emblem and Disgaea franchises, can lay claim to the
Crossword By Thomas Joseph with additional lore and fanservice, letting you come out
with journals, sneak peeks, and references that will make
same thing. What really sets Super Robot Wars 30 apart
is its presentation. Tactical battles look pretty mundane
ACROSS 45 Stretches over 22 Language suffix 31 Brightens
any Guardians of the Galaxy comic book fan squeal with joy. at first, but a significant chunk of SRW’s charm lies in
1 Sound from a 46 Cheese choice 24 Was a pioneer 32 Turns red, perhaps
smithy 26 Starting bids 33 Lab work The environments themselves also never get stale, having the combat animations and character barks that go with
6 Absolutely not DOWN 28 Like some 35 Takes ten you traverse abandoned space ships, infested caverns, and it. Since each character has its own set of weapons and
11 California cager 1 Hanger site convalescent care 38 Smooth alien worlds. You’re mostly set on a linear path, but the personalities, the animations you have for each attack
12 President born in 2 Looseness 29 Pouchlike part 42 Highway rescue areas you do get to explore look absolutely beautiful. It’s are all different, each is punctuated by a special intro and
Hawaii 3 “Ran” director
13 Rust, for one 4 Homer’s neighbor got a fair amount of content to it as well, with first-time snappy quotes. Your attacks differ entirely based on what
14 Trifled 5 Terrific playthroughs lasting about 15 hours to 16 hours depending weapons are used, and effort has been spent to make it
15 Army address 6 Imaginary on how thorough and skilled you are. seem weighty and impactful.
16 Farm measure 7 Bassoon’s kin Really, the only thing holding Guardians of the Galaxy Just as strong as the combat animations is the game-
18 Letter after zeta 8 “Spirited Away” director
back is its repetitive nature. The combat and exploration play itself. While Super Robot Wars 30 does play pretty
19 Low digit 9 Last letters
20 Crew need 10 Tall boot are pretty decent as a whole, but they can get a little drain- safe, there’s no denying that there’s a keen sense of
21 Young one 17 Corn core ing, especially against the tougher enemies you might enjoyment to be had when you maneuver your characters
23 Soothing ointments encounter. Fights aren’t difficult, but they do last quite a through the stage and weather the tide of enemies the
25 GI-entertaining org. while. And while you have a decent number of upgrades game loves to keep sending after you. Care must be given
27 Maui souvenir
28 Gets ready available to kit out the characters and maximize to ensure that characters stay healthy, and the
30 Fabric worker their potential, the combat always feels just a FULL STORY few new options like auto battle come in to
33 Overly bit lacking as if it’s missing a mechanic or two to help break the monotony during points where
34 Corn unit spice things up. victory is all but guaranteed already. This
36 Ring legend
That said, its personality is more than enough strong emphasis on tactical depth is hard to
37 Gist
39 Ray-gun sound to carry this single player experience all the way ignore, and it really cements the game’s foun-
40 Barrel piece to the end. It might not be a game you’ll replay dations. A ton of missions are on offer, each
Read the full story by
41 Map division any time soon, but it’s game you’ll fondly re- scanning the QR code with
with its own wrinkles depending on when you
43 Castle part member if you’re a Guardians of the Galaxy fan. tackle it, and on which characters you bring.
your smartphone or by
44 Game piece
YESTERDAY’S ANSWER It’s sleek, it’s stylish, it’s witty, and it’s a great take typing the link Simply put, there’s just no end to the options
1-14 <https://bit.ly/3tvKOzU>
on this lovable band of superheroes. you have available to you.