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PHL shares climb on strong foreign fund inflows

SHARES CONTINUED their ascent on Thursday, bringing the main index closer to the 8,000 level on hopes of warmer trade relations between the United States and China after their officials’ meeting this week.
The benchmark Philippine Stock Exchange index (PSEi) firmed up by 0.82% or 65.56 points to 7,985.23, reversing its losses in early morning trading. The broader all-shares index likewise climbed 0.78% or 36.94 points to 4,764.91.
“Philippine shares (were) once more ever closer to the 8,000 level alongside the S&P 500 in its longest winning streak since Sept. 14, on reports that the US and China have narrowed differences over trade,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile message.
While US and Chinese officials gave little details on their trade talks that lasted for three days, they said both sides considered ways to achieve fairness, reciprocity, and balance.
Papa Securities Corp. Sales Associate Gabriel Jose F. Perez, meanwhile, attributed the market’s increase to the continued inflow of foreign funds.
Net foreign buying reached P1.5 billion on Thursday, higher than the previous session’s P1.37 billion. This marks the sixth day of net purchases for the market, with net sales recorded only logged on the first trading day of the year.
“Another strong round of net foreign buying propelled the index…even making an intraday high of 7,992.33 just a few points shy of the 8,000 mark,” Mr. Perez said in an e-mail.
The mining and oil counter was the lone sub-index that declined, slipping 0.28% or 25.07 points to 8,789.32.
The rest went up, led by services as it surged 1.68% or 25.60 points to 1,545.07. Financials jumped 1.14% or 20.56 points to 1,818.42. Industrials rose 0.98% or 112 points to 11,474.95; property went up 0.86% or 34.39 points to 3,990.24; while holding firms added 0.15% or 11.95 points to 7,930.61.
Some 2.12 billion issues valued at P10.11 billion switched hands, broadly steady from the previous session’s P10.17-billion turnover.
Advancers continued to outpace decliners, 109 to 82, while 51 names ended flat.
Papa Securities’ Mr. Perez noted that the PSEi could end the week on a positive note should foreign inflows continue to register above the P1-billion mark.
“Caveat, technical analysis indicator RSI (relative strength index) for the PSEi already at the overbought level so the potential of profit taking soon is still on the table,” Mr. Perez said.
Meanwhile, Wall Street’s major indices also posted gains overnight. The Dow Jones Industrial Average rose 0.39% or 91.67 points to 23,879.12. The S&P 500 index went up 0.41% or 10.55 points to 2,584.96, while the Nasdaq Composite index jumped 0.87% or 60.08 points to 6,957.08.
In contrast, Asian indices ended mixed after China’s inflation data missed expectations. — Arra B. Francia

Duterte signs Telecommuting Act into law

A MEASURE institutionalizing telecommuting as an alternative work scheme has been signed into law by President Rodrigo R. Duterte, as confirmed on Thursday by Malacañang and also by Senator Emmanuel Joel J. Villanueva, one of the measure’s principal authors.
Signed by Mr. Duterte on Dec. 20 last year, Republic Act 11165 or “An Act Institutionalizing Telecommuting as an Alternative Work Arrangement for Employees in the Private Sector” defines telecommuting as “a work arrangement that allows an employee in the private sector to work from an alternative workplace with the use of telecommunication and/or computer technologies.”
According to the law, “An employer in the private sector may offer a telecommuting program to its employees on a voluntary basis, and upon such terms and conditions as they may mutually agree upon: provided that such terms and conditions shall not be less than the minimum labor standards set by law, and shall include compensable work hours, minimum number of work hours, overtime, rest days, and entitlement to leave benefits.”
According to Section 5 of the law on “fair treatment,” telecommuting employees shall “receive a rate of pay, including overtime and night shift differential, and other similar monetary benefits not lower than those provided in applicable laws, and collective bargaining agreements”; “have the right to rest periods, regular holidays, and special nonworking days”; “have the same or equivalent workload and performance standards as those of comparable workers at the employer’s premises”; and “have the same access to training and career development opportunities as those of comparable workers at the employer’s premises, and be subject to the same appraisal policies covering these workers.”
The law also has provisions on data protection and on a telecommuting pilot program of up to three years in select industries and on the watch of the Department of Labor and Employment.
Sought for comment, Employers Confederation of the Philippines (ECoP) acting president Sergio R. Ortiz-Luis, Jr. said, “The problem with it is that it (telecommuting) shouldn’t be compulsory. If it isn’t compulsory, why is there a law? You can actually do it without the law…. There are companies na okay na ‘yan (that are okay [with telecommuting]).”
He added that a problem for this type of working arrangement is it’s “very hard to monitor people working at home.”
Also sought for comment, Trade Union Congress of the Philippines (TUCP) president and party-list representative Raymond C. Mendoza said, “Though the measure is not mandatory, the measure will not reduce the wages and benefits received by workers.”
Mr. Villanueva, who heads the Senate Committee on Labor, Employment and Human Resources Development, said in a statement, “With this recently signed law, we can now have a stable and consistent legal framework that can provide an enabling environment to encourage participation and enforce compliance among enterprises, big or small. This is indeed a fitting New Year’s welcome for our dedicated Filipino workers.” — With Arjay L. Balinbin and Gillian M. Cortez

JCI names 11 TOYM 2018 honorees

By Michelle Anne P. Soliman, Reporter
THE Junior Chamber International recognized 11 honorees as The Outstanding Young Men and Women of 2018 for their efforts in service and nation-building.
“The Outstanding Young Men and Women of 2018 builds upon the idea of inspiring, creating and molding leaders [to] become active citizens that hopefully will inspire more people to do the same,” Rey Felix C. Rafols, JCI Philippines national president, said in his speech during the presentation of the honorees at Romulo Cafe in Makati on Jan. 9.
“Your stories do more than inspire us when we hear about it. It gives us an example. It shows the will power of the Filipino spirit. [Lastly], it shows that anyone, regardless of status in life is capable of doing good and capable of being great,” Mr. Rafols also said.
This year’s TOYM carries the theme, “Inspiring Lives Towards Nation Building,” which gathered 108 nominees from various fields who were screened by a panel composed of past TOYM Honorees chaired by Richard Javad Heydarian, 2016 TOYM Honoree for Social Science.
The nominees were also screened by a board of judges chaired by Fortunato Dela Peña, secretary of the Department of Science & Technology. Among its members are: Alegria Limjoco, president of the Philippine Chamber of Commerce and Industry; Margie Floirendo, chairperson of the Cultural Center of the Philippines; Emmanuel Bonoan, vice-chairman and COO of KPMG Philippines; lawyer Jesus Clint Aranas, president and general manager of Government Service and Insurance System; Herman Basbaño, chairman of the Kapisanan ng mga Brodkaster sa Pilipinas; and Vincent Reyes, president and CEO of TV5 Network Inc.
At the presentation, Bienvenido V. Tantoco III, president of TOYM Foundation, Inc., highlighted an important message he learned from his grandfather — to “transform the ordinary.”
In his speech, Mr. Tantoco acknowledged the following honorees: Dr. Nassef Manabilang Adiong for International Relations who is “a firm illuminating voice of the poorly understood and underrepresented Islamic perspectives in international relations”; Jamela Aisha Martinez Alindogan for International Journalism who “works in war-torn communities to provide not just news coverage but also relief to women and children victims”; Cherrie De Erit Atilano for AgriBusiness who “gave up a full bright scholarship opportunity at an Ivy League to help farmers earn a living through agri-preneurship”; Karl Kendrick Tiu Chua for Economic Development who “left a high illustrious and coveted career at the World Bank to join the government and work on the country’s tax reform program”; Bernard Faustino La Madrid Dy for Public Service who “represents the new breed of political servants today leading a smarter and sustainable city as its mayor”; Rodne Rodiño Galicha for Environment Conservation & Climate Change Education who “walked a thousand kilometers [at the People’s Pilgrimage in 2015] for months to lobby for concrete actions at the global level to fight climate change”; Fatima Peñones Ibias-Lanuza for Government Service/Law Enforcement who “broke the stereotype against police officers to shine in the male-dominated field”; Dr. Erika Fille Tupas Legara for Education Innovation who “finished her PhD in Physics with an average of 1.0 is now at the forefront of first formal data science program in the Philippines”; Dr. Katerina Tolentino Leyritana for Public Health who “embrace(d) public health over a lucrative career to provide advance medical care for infectious diseases particularly HIV”; Dr. Mark Anthony Santiago Sandoval for Medicine/Endocrinology who “chose to practice in the academe widening his research and educate small town Filipinos on diabetes”; and Jaton Zulueta Jr. for Community Development who “gave thousands of hours teaching out of school youths starting from makeshift classrooms in the cemetery.”
2018 TOYM honorees Mses. Atilano and Alindogan expressed their message to the youth to be of service.
Ms. Alindogan said, “We live in a world where global leaders have no respect for institutional authority, [and] where global leaders only understand personal power….We need to make stock of where we are as Filipinos at this point and where we can be in the future. It’s so easy to be angry, but you have to use that discontent and harness it into something productive.”
Ms. Atilano, for her part, said, “I want to tell the Filipino youth that dreaming is very important. You need to dream for the country and for themselves. I chose to be here in the Philippines because we need to start in our own backyard. If you want to create change, you need to start here in the Philippines….We have so many problems to solve. If we just close our eyes and leave those problems, we will keep blaming our government leaders, private leaders, and at the end of the day, we will blame ourselves because we did not do anything about it.”

Sotto says no need for bicameral conference on abolition of Road Board

By Camille A. Aguinaldo, Reporter
SENATE President Vicente C. Sotto III on Thursday stuck to his position that there is no need for a bicameral conference committee on the bill abolishing the Road Board, despite proposals on such moves in order to resolve the issue.
“As far as the Senate is concerned, technically, we have adopted the House version so there is no need for a bicam,” Mr. Sotto said at the Kapihan sa Senado media forum on Thursday.
“Our Majority Leader (Senator Juan Miguel F. Zubiri) is of course coordinating and cooperating with the Majority Leader of the House of Representatives, and their request is for us to go into a Bicam. So Senator Zubiri told me, but then again, there is the other half of the Senate who believes there is no need for a Bicam because we have adopted the House version,” Mr. Sotto also said.
Last December, Mr. Zubiri suggested reconvening the bicameral conference committee “to further strengthen the abolition of the corruption-riddled agency,” following President Rodrigo R. Duterte’s statements supporting the Senate position on the Road Board’s abolition.
House Majority Leader Rolando G. Andaya, Jr. last Sunday said they are ready to designate members of the bicameral conference committee.
Mr. Sotto said at Thursday’s media forum that the proposal for both chambers to convene in a bicameral conference committee will have to be decided by members of the Senate at their caucus on Jan. 14, when Congress also resumes session.
But he also said, “It’s abolished as far as we are concerned. Maybe it’s just ministerial if you look at it. Anyway, that is the situation right now so that is why it will be second in our agenda (in the caucus). Do we agree? If we agree, we have to come up with a mechanism in the Senate to be able to resume consideration and recall the adoption of the House version.”
“Maybe it might be a monkey wrench,” he added.
The Senate leader also said, “The problem is if it is not contained in the Senate version, and it is not contained in the original House version, we cannot legally take it up in the Bicam. That is the SOP (standard operating procedure), we cannot introduce anything new into the Bicam.”
The two chambers of Congress have been at odds with the bill abolishing the Road Board after the Senate adopted the House version of the bill just as the House also rescinded it.
President Rodrigo R. Duterte has said he wanted the government agency abolished because of corruption issues. Last week, he also said he preferred the road user’s tax to be allocated for flood-control projects in Bicol after the region was devastated by typhoon Usman.

Duterte signs law on 300% increase in pension for war veterans

PRESIDENT Rodrigo R. Duterte has signed a law increasing the monthly pension of war veterans to “300%” beginning this year.
Malacañang released to reporters on Thursday, Jan. 10, a copy of Republic Act No. 11164 as signed by Mr. Duterte on Dec. 20.
Section 2 of the law states: “The old-age pension of veterans of World War II, Korean and Vietnam wars shall be increased to P20,000 per month: Provided, that the veterans of Korean and Vietnam wars are not receiving pension from the Armed Forces of the Philippines (AFP): Provided, further, that the entitlement to the increase in old-age pension shall be limited to the eligible living senior veterans and shall not be transferable to any family members and/or dependents of the senior veterans.”
The new law was passed by the Senate as Senate Bill No. 1766 on Oct. 8, 2018 and adopted by the House of Representatives as an amendment to the House Bill No. 7525 on Oct. 20, 2018.
In a press release dated Dec. 13, the Senate said the measure mandating the government to increase to “300% the monthly old-age pension of Filipino senior war veterans” was transmitted to the Office of the President “last Nov. 26.”
“In all likelihood, it will be implemented early next year, providing the more than 6,000 Filipino World War II, Korean and Vietnamese war veterans a total of P20,000 monthly old-age pension, an increase of P15,000 in their previous P5,000 annuity,” it added.
Senator Gregorio B. Honasan II, the principal author and sponsor of Senate Bill No. 1766, was quoted as saying: “The challenge is to institutionalize this to the point that it’s almost engraved in the stone, that whoever is the president, whoever sits in Congress, will make sure that our veterans will live forever in the memory of this nation.” — Arjay L. Balinbin

Palace denies red-baiting journalist group members

MALACAÑANG on Thursday denied that the government, through the Presidential Communications Operations Office (PCOO), is red-baiting members of the National Union of Journalists of the Philippines (NUJP).
Wala (None), there is no such thing. PCOO will not do that. PNP (Philippine National Police) does not do that also. As explained by (the) PNP chief, it is part of their intelligence work — they receive any info on a particular member… then they do some profiling… If you are not doing anything, they don’t have to worry,” Presidential Spokesperson Salvador S. Panelo said in a press briefing, noting that NUJP is probably just being “paranoid.”
The NUJP issued a statement Wednesday against the Philippine News Agency (PNA), a web-based newswire service of the government under the supervision of the PCOO.
In its statement, the NUJP said: “PNA fake news proves gov’t hand in red-tagging.”
“When a number of tabloids came out on January 7 with totally false banner stories on the National Union of Journalists of the Philippines’ supposed links to the Communist Party of the Philippines, we held back from voicing our suspicions of who was behind what was clearly an orchestrated campaign to vilify us and intimidate us into silence.”
The group added, “Now we can say for certain that government is involved in this nefarious effort. Thanks to the Philippine News Agency, which under this administration has been transformed into a paragon of incompetence and fakery masquerading as ‘journalism,’ for providing proof positive with the January 8 article, ‘Red link tag on NUJP not ‘orchestrated’: ex-rebels.’”
NUJP pointed out that the PNA article “follows the style of the canard foisted by the tabloids, which liberally quoted the fantastical and totally fictional account of a supposed ex-rebel and ‘NUJP founder’ who went by the alias ‘Ka Ernesto’ without even bothering to get our side.” — Arjay L. Balinbin

Maynilad seeks contractor for water reclamation facility in Kawit

MAYNILAD Water Services, Inc. is looking for a contractor to design and build a water reclamation facility with a 13 million liters per day capacity, to be located in Kawit, Cavite. In an invitation for prequalification published on Thursday, Maynilad said the winning bidder would be undertake “the detailed design, construction, testing, and commissioning of the plant with nutrient removal,” as well as operate the plant for at least one year after commissioning. Maynilad, one of the two concessionaires of the Metropolitan Waterworks and Sewerage System covering the west zone of Metro Manila and parts of neighboring Cavite province, said the project is part of its “service obligations to attain its sewerage and sanitation targets.” A prequalification orientation meeting is set on Jan. 25 at the Maynilad head office in Quezon City and the deadline for submission of applications is on Feb. 28.

Meat, vegetable prices in QC lower than in other parts of Metro Manila

PRICES OF agricultural products at the Commonwealth Market and supermarkets in Quezon City are lower by as much as P50 compared to the average selling prices in other parts of Metro Manila, based on the Department of Trade and Industry’s (DTI) monitoring.
In a statement, DTI said its latest market price monitoring activity, conducted Thursday at the Commonwealth Market, found that prices of pork, vegetables, and fish products were lower by P5 to P50 compared to the Jan. 8 prevailing prices of these products in the National Capital Region (NCR) .
The DTI used as comparative data the Jan. 8 prices reported by the Philippine Statistics Authority in its latest Comparative Retail Prices of Metro Manila Markets Report.
Fully dressed chicken at the monitored market was sold at P100 per kilo while the prevailing average recorded across Metro Manila was P145.
In the supermarkets, chicken was priced even lower, ranging between P90 to P99 per kilo — depending on whether they are branded or not — much lower than the average low of P145 and high of P164 at other supermarkets within NCR.
“The DTI is very pleased to see that prices of agricultural products are now at its most reasonable level where consumers are assured to get value for their money, and fair return of investment for the retailers,” said DTI Consumer Protection Group (CPG) Undersecretary Ruth B. Castelo in the statement.
The DTI noted that sellers at the Commonwealth Market are capable of keeping prices low as they source goods directly from the producers.
“Since Commonwealth Market removed the middle players from the supply chain, they are able to sell agricultural products at very low prices. Those retailers who do not have direct link to producers may source their products from Commonwealth Market and sell these at the SRP (suggested retail price) level. In this way, they sell at affordable prices to consumers while gaining reasonable profit,” Ms. Castelo added.
On sugar, the DTI also lauded the Robinsons and SM supermarkets for selling sugar at the set SRPs.
The Sugar Regulatory Administration’s SRP for refined sugar is P50 per kilo and brown sugar at P45. — Janina C. Lim

Governor asks village officials to help in surveillance as military, police assure Cebu is safe from terror threats

CEBU GOVERNOR Hilario P. Davide III called on barangay officials to help security forces in monitoring possible terror threats as the police and military gave him assurance that the province is safe following the travel advisory of the United Kingdom warning its citizens from traveling to parts of southern Cebu and Mindanao. “We have to be very watchful,” Mr. Davide is quoted in a statement after a meeting with security officials on Jan. 9. During the briefing, Chief Insp. Florendo L. Fajardo of the Provincial Police Operations Plans Branch said security measures are in place not only in southern Cebu but the entire province to ensure the safety of residents and tourists. Mr. Fajardo, however, asked the public to remain vigilant. “We are not discounting the possibilities of threats and with the number of tourist influx, especially during Sinulog (Festival) and upcoming summer season, we will always beef up our security measures and double our vigilance against lawless elements,” he said. The military’s Col. Noel T. Baluyan, meanwhile, said soldiers have also been deployed across the province.

2 firms face fines for medical wastes in waters off Lapu-Lapu

THE ENVIRONMENTAL Management Bureau-Central Visayas (EMB-7) is set to issue a notice of violation and impose corresponding fines of at least P50,000 against two firms in Mandaue City linked to the medical wastes found floating in the seas off Lapu-Lapu City the past few days. EMB-7, in a statement, said evidence showed that Davao City Environmental Care, Inc. (DCECI) and Chong Hua Hospital Mandaue and Cancer Center (CHHMCC) were found to have committed lapses that merit the imposition of penalties against them. DCECI is a treatment, storage, and disposal (TSD) facility that uses autoclave and charring method as treatment for its medical wastes from the University of Cebu Medical Center (UC Med), St. Vincent Hospital, and CHHMCC. Among the wastes collected was a bottle bearing the name of CHHMCC. In a meeting over the weekend, DCECI presented manifest forms and certificate of treatment for collected and treated health care wastes of CHHMCC only up to September 2018, but continued to provide services to the hospital until Jan. 2. CHHMCC, for its part, could not present any manifest form for the previous and current collections of health care wastes by DCECI. — The Freeman

2 Davao provinces, other areas in election watchlist due to NPA, armed groups

LAW ENFORCEMENT agencies have placed the entire provinces of Compostela Valley and Davao del Sur in the election watch list because of the presence of private armed groups and New People’s Army (NPA) rebels. In a press briefing on Wednesday, Police Regional Office Spokesperson Jason L. Baria said they, along with the military, are still evaluating whether to declare some of these areas as election “hotspots,” where tighter security measures will be implemented. Also, under close monitoring in the Davao region are all towns, except for Sto. Tomas, and the two cities of Davao del Norte, and seven of the nine political districts of Davao City. Mr. Baria noted that the NPA, the armed unit of the Communist Party of the Philippines, is known to take advantage of election periods by undertaking the so-called permit-to-campaign scheme wherein they forcibly collect fees from candidates. — Carmelito Q. Francisco

Charges filed vs Cotabato City blast suspects

THE Special Investigation Task Group (SITG) of the Police Regional Office (PRO) 12 has filed charges against the suspects of the Dec. 31 bombing in South Seas Mall in Cotabato City that left two dead and more than 30 others wounded. In a statement Thursday, PRO-12 Director Eliseo T. Rasco said the charges of two counts of murder and 34 counts of frustrated murder were brought Wednesday before the Office of Prosecutor Anwar Masacal in Cotabato City. “We need the community to help us detect any activity that poses a threat to our security. We need everybody to report to our law enforcers any suspicious looking person and any bags or backpacks or anything left unattended,” said Mr. Rasco. One of the suspects, identified as 56-year-old Salipudin Pasandalan, is already under police custody after he surrendered on Sunday. The other suspect identified as Alias Saed Nur Kasim remains at large. — Vince Angelo C. Ferreras