Full foreign entry likely to help modernize railway sector

December 22, 2021 | 12:31 am

TRAIN-250620_pnr-lsi10 — A TRAIN is seen at the Philippine National Railways Tutuban Station in Manila in this file photo. -- PHILIPPINE STAR/ MIGUEL DE GUZMAN

By Arjay L. Balinbin, Senior Reporter

A PROPOSED LAW that would allow 100% foreign ownership in public services is expected to accelerate the modernization of railways and subways, according to companies involved in railway projects.

The Senate last week approved on third and final reading a bill amending the Public Service Act (PSA), or Commonwealth Act No. 146, to relax restrictions on foreign investment in public services such as telecommunications, air carriers, domestic shipping, railways, and subways.

Light Rail Manila Corp. (LRMC), the private operator of Light Rail Transit Line 1 (LRT-1), said the measure will help spur investments in the transportation sector.

“This will certainly help bring in more investments and modernize the transport sector leading to better services, so we think this is a welcome development,” LRMC Spokesperson Jacqueline S. Gorospe told BusinessWorld in a phone message on Dec. 17.

LRMC is currently building the LRT-1 Cavite Extension. The project aims to add an 11.7-kilometer Baclaran-Bacoor, Cavite segment to the current 18.1-kilometer train line. The new stretch will have eight stations. It is expected to be fully operational by the second quarter of 2027.

“LRMC has always looked at best practices and working with leaders from different industries; we think this legislation will allow more of the best practices to emerge,” Ms. Gorospe added.

Meanwhile, Philippine Infradev Holdings, Inc. President and Chief Executive Officer Antonio L. Tiu said the proposed legislation “will be a boost to Build, Build, Build,” the Duterte administration’s flagship infrastructure program.

“Let us wait until [the] pandemic is over, [the result] should be positive,” he added.

Philippine Infradev’s wholly owned subsidiary is currently building the Makati City subway. It is expected to be operational by January 2026. The Fiscal Incentives Review Board recently approved the grant of tax incentives for the subway project.

Sought for comment, transport expert Rene S. Santiago said that “removing legal obstacles is first step, but will not automatically lead to more foreign investments in railways and subways because of the inherently poor financial returns.”

“It is strange to classify tollways as public utility (in the Senate version of the bill), but not railways and subways,” he told BusinessWorld in a phone message. “All three share similar characteristics.”

Unlike railways and subways, tollways will still be subject to the 40% foreign ownership limit.

For his part, Terry L. Ridon, convenor of InfraWatch PH, said in a separate phone message that the Philippine Senate is “mistaken if it thinks that merely opening up to full foreign ownership of public utilities and services will bring in more foreign investments to the sectors.”

“The main binding constraint to foreign investment was never nationality restrictions, but the governance climate in the country, such as whether businesses will be subjected to regulatory capture, red tape and corrupt activities,” he added.

LRMC is the joint venture of Ayala Corp., Metro Pacific Light Rail Corp. and Macquarie Infrastructure Holdings (Philippines) Pte. Ltd. It holds the P65-billion, 32-year PPP contract to operate LRT-1 and build its extension to Cavite.

MPIC is one of three Philippine subsidiaries of Hong Kong’s First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains an interest in BusinessWorld through the Philippine Star Group, which it controls.

Philex says $224-M mine ready by 2024-25

December 22, 2021 | 12:08 am

PHILEX Silangan Project — PHILEXMINING.COM.PH

Philex Mining Corp. announced its plan for a $224-million Silangan copper and gold project in Surigao del Norte with an estimated 571 tons worth of mineral resources.

Philex will be leading this project, along with its subsidiary, Silangan Mindanao Mining Co., Inc. (SMMCI).

“This is an opportunity for the mining industry to play a pivotal role as we enter the post-pandemic world,” said SMMCI Chief Operating Officer Michael T. Toledo in a media round table on Tuesday.

“We all know how much mining can generate so much in terms of income, revenues, and taxation, and how it can also generate employment if allowed to flourish. We can hopefully propel the economy as we move on to year 2022,” added Mr. Toledo, who is also chairman of the Chamber of Mines of the Philippines (CoMP).

The Silangan copper-gold project will initially process 2,000 tons of ore in a day, until this reaches 12,000 tons a day or four million tons annually upon its completion.

“Mining is not the enemy. It’s poverty. And it is the goal of Philex, SMMCI, as well as the CoMP, to make sure that role is played the best level possible. To really do what needs to be done and to ensure the benefits of mining trickles down to all our people,” Mr. Toledo said.

The mine is comprised of two ore deposits that are 0.52% copper and 0.64% gold, higher than any other Philex projects.

“The copper and gold grades in Silangan are twice as high as the current grades of Padcal, which for decades has been the life blood of Philex, but is now approaching the end of its mine life,” said Eulalio B. Austin, president and chief executive officer of Philex.

The project is divided into phases, with the first phase covering the Boyongan deposit. Boyongan has 81 million tons of ore containing 0.67% copper and 1.12 grams of gold per ton. It is projected to produce 2.8 million ounces of gold and 993 million pounds of copper during its mine life.

Once the second phase is commenced, the Bayugo deposit will increase annual production by 6.5 million tons.

The first phase has a mine life of 28 years, and will take two and a half years to develop beginning second quarter of 2022, will be ready for commercial use by late 2024 or early 2025.

“Silangan will be a major exporter of metallic minerals for the Philippines, generating in the future much needed foreign exchange receipts of the country that will augment and increase the country’s foreign currency reserves that can improve the country’s ability to settle foreign currency requirements for economic recovery post COVID-19 (coronavirus disease 2019) pandemic,” Mr. Toledo said.

The project is expected to create employment in towns surrounding the mine and comes with a corporate social responsibility plan that has initiatives for education, livelihood, and the promotion of socio-cultural activities.

Silangan will have a disturbed area of 24.91 hectares, with Philex offsetting this with plans to reforest an area of 185.24 hectares.

“They key to our community development and social acceptance is partnership building. We give credence and importance to what the people feel and say,” said Victor A. Francisco, Philex vice-president for environment and community relations.

“We want the people in our host areas to know we are a good neighbor, and in operationalizing that, we want them to know what is happening in their area,” he added.

The project will be financed by fresh capital infusion from Philex, equity via stock rights offerings, and possible debt.

Philex has filed an application to raise as much as P3.15 billion through a stock rights offering of up to 842 million common shares with the Securities and Exchange Commission and the Philippine Stock Exchange.

Philex Mining Corp. is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Metro Pacific Investments Corp. and PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Luisa Maria Jacinta C. Jocson

FLI’s P10-B bonds four-times oversubscribed

December 22, 2021 | 12:07 am

FLI_REIT_Northgate-Cyberzone — Filinvest REIT Corp. manages a portfolio of 17 office buildings, of which 16 are located in Northgate Cyberzone, Filinvest Corporate City in Muntinlupa. — COMPANY HANDOUT

Filinvest Land, Inc. (FLI) listed the second tranche of its P30-billion shelf-registered bonds in a fundraising that was more than four times oversubscribed from its base offer of P8 billion.

The company raised P10 billion through its latest issuance, comprising four-year 4.5030% fixed-rate bonds due in 2025 and six-year 5.2579% fixed-rate bonds due in 2027.

In a statement, FLI said the proceeds “will allow the company to implement its capital expenditure program.”

“This latest listing brings the total amount of FLI and its subsidiary bonds to be listed in the PDEx (Philippine Dealing & Exchange Corp.) trading platform to P61.1 billion,” FLI President and Chief Executive Officer Lourdes Josephine Gotianun-Yap said during the listing ceremony on Tuesday.

PDEx President and Chief Executive Officer Antonino A. Nakpil said they were advised that the company’s order book “totaled just over P30 billion or three times the final issue size.”

FLI’s fixed-rate bond listing marks the 21^st at the PDEx this year, bringing the year-to-date total of new listings to P208.59 billion. Meanwhile, the total tradable corporate debt instruments stood at P1.29 trillion, which are issued by 53 companies through 189 securities.

FLI’s fixed-rate bond issuance is the second tranche of its P30-billion shelf-registered bonds. The initial P8.1-billion tranche was issued in November 2020.

The company tapped BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., Eat West Banking Corp., First Metro Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp. to be the joint lead underwriters and bookrunners of the issuance. RCBC was also assigned as Trustee.

Meanwhile, FLI shares at the stock exchange on Tuesday went down by 0.91% or one centavo to close at P1.09 apiece. — Keren Concepcion G. Valmonte

Petroleum delivery bottlenecks in typhoon zone resolved — DoE

December 22, 2021 | 12:07 am

THE Department of Energy (DoE) said the bottlenecks hindering the delivery of petroleum products to ports serving provinces hit by Typhoon Odette (international name: Rai) have been cleared.

“The oil companies assured the DoE that we have sufficient supply, the challenge was how the vessels carrying the petroleum products can reach the ports,” Energy Undersecretary Felix William B. Fuentebella said in a briefing Tuesday.

Mr. Fuentebella said the Energy department worked with the Philippine Coast Guard to ensure that tankers are safely piloted to the offloading facilities, after sunken vessels created hazards at some ports.

A shortage of petroleum products has hindered damage assessments and the restoration of services in typhoon-hit areas.

The DoE said it has compiled estimates on the fuel needs of the National Grid Corp. of the Philippines and distribution utilities, which need fuel for their trucks to perform repair work, as well as the fuel requirements of hospitals operating on generator power.

The national inventory is currently sufficient for 22 days, the DoE said.

Oil Management Bureau Director Rino E. Abad said 66% of service stations in the Central Visayas are operational. The equivalent availability rates are 79% in the Western Visayas, and 88% in the Eastern Visayas, with most nonoperational stations concentrated in Southern Leyte.

In the Caraga region of Northeastern Mindanao, the service station availability rate is 93%.

Mr. Abad said he has received reports that some service stations are selling gasoline for up to P100 per liter, and reminded them of potential penalties for overpricing, as authorized by the Consumer Act, or Republic Act 7394.

“The challenge now is for the inspectors to be able to document the stations which are selling overpriced products,” Mr. Abad said, adding that the Philippine National Police Criminal Investigation and Detection Group have been deployed with DoE inspectors.

Various energy companies have announced relief efforts for areas affected by Typhoon Odette.

Manila Electric Co. (Meralco) said on Tuesday that it will be supplying 20,000 liters of diesel for the generator sets of PLDT, Inc. and Smart Communications, Inc. to aid in the restoration of telecommunications services in Cebu.

Meralco said that it has also deployed 50 engineers and linemen to expedite clearing operations and power restoration in Cebu.

Meralco has requested the aid of the Philippine Navy and PLDT in transporting its personnel and vehicles to deliver 11 generator sets and heavy equipment to their work sites.

Separately, the Aboitiz Group, Visayan Electric Company, Inc. and AboitizPower Corp. (AboitizPower) reported that electricity in Banilad Road and M.L Quezon Avenue in Cebu have been restored.

“The AboitizPower Distribution utility group also brought in teams from its subsidiaries Davao Light and Power, Inc., Subic Enerzone Corp., and Cotabato Light and Power Co. to accelerate debris clean-up and power restoration throughout the city,” the group said in a statement.

San Miguel Corp. (SMC) said its food donations to provinces hit by the typhoon were valued at P30 million as of Monday.

“We are exerting all efforts to reach, and help all affected provinces — with special focus on the hardest-hit areas,” SMC President and Chief Executive Officer Ramon S. Ang said in a statement.

“Our priority is to get as much food stocks from our facilities all over the country, to the affected provinces in the Visayas and Mindanao, and to make sure these are distributed to affected families at the soonest possible time,” he added. — Marielle C. Lucenio

AC Energy, unit subscribe to shares of solar project developer

December 22, 2021 | 12:06 am

AC Energy Corp. and its subsidiary ACE Endevor, Inc. have entered into an P8.25-million agreement to acquire 60% of the common shares of a renewable energy project developer, the Ayala-led listed company said on Tuesday.

In a stock exchange disclosure, AC Energy said it had subscribed, along with its unit, to 82,500 common shares in Nature’s Renewable Energy Dev’t. Corp. (NAREDCO) for P100 apiece.

The subscription price will be used by NAREDCO to fund the development of a 200-megawatt direct current (MWdc) solar power project in Lal-lo, Cagayan. The project is seen to add around 100 MW of renewable capacity to AC Energy’s power generation portfolio.

AC Energy currently has approximately 3,000 MW of capacity spread across the Philippines, Vietnam, Indonesia, India, and Australia. Around 80% of the capacity is renewable energy (RE) as the company committed to achieve net-zero greenhouse gas emission by 2050.

It also targets 5,000 MW of renewable energy capacity by 2025 and aspires to become the largest renewables company in Southeast Asia.

NAREDCO5 is a special purpose vehicle in the Lal-lo solar power project, which is a joint venture of AC Energy and CleanTech Global Renewables, Inc. subsidiary CleanTech Renewable Energy 4 Corp.

Special purpose vehicle companies are subsidiary companies used to take over a specific business purpose.

In October, AC Energy said its shareholders approved the joint venture with CleanTech, with the intent to co-own NAREDCO.

Meanwhile, AC Energy said on Monday that it had signed an agreement to subscribe to 3.6 million redeemable preferred shares of its wholly owned subsidiary Ingrid3 Power Corp. The shares will come from Ingrid3’s unissued capital stock.

The shares comprise 47.37% of Ingrid3’s total outstanding shares, priced at P1 apiece.

Ingrid3 is under ACE Endevor and serves as a special purpose vehicle for AC Energy’s development projects. The funds from the subscription will be used by Ingrid3 for future projects. — Marielle C. Lucenio

NEA doubtful of power returning by year’s end to 3 areas hit by ‘Odette’

December 22, 2021 | 12:06 am

THE National Electrification Administration (NEA) said on Tuesday that it does not expect to restore power in Bohol, Dinagat Islands, and Surigao del Norte before the end of 2021.

“it is quite impossible to restore power in… Bohol, Dinagat Islands (and) Surigao del Norte before the year ends,” the head of NEA, Ernesto O. Silvano, said in a news conference with the Department of Energy (DoE).

The NEA damage assessment means the DoE may not be able to meet its commitment to restore power to hard-hit areas by Dec. 25.

Around 939 municipalities were affected by the typhoon, as well as 95 transmission lines, of which 22 have been repaired.

The NEA’s Disaster Risk Reduction and Management Department estimates around P300 million worth of damage sustained by nine cooperatives as of Monday. The tally is expected to rise when more cooperatives file their reports.

Mr. Silvano said transmission lines in Bohol are still 100% nonoperational.

Energy Undersecretary Felix William B. Fuentebella said power restoration in Leyte is “challenging” and could not provide a timeline for the return of electricity.

“Bohol (is) connected to Leyte and we have two tall towers, according to the NGCP (National Grid Corp. of the Philippines) that were hit by the typhoon. The NGCP is targeting that now,” he said.

Mr. Fuentebella added that although the NGCP can restore transmission lines, there is no assurance normal levels of power will be supplied. — Marielle C. Lucenio

Major business chamber sees 2022 GDP growth at 6.5%, minimal impact from Omicron

December 22, 2021 | 12:05 am

Taytay Tiangge-shoppers — PHILIPPINE STAR/MICHAEL VARCAS

THE ECONOMY is expected to post gross domestic product (GDP) growth of at least 6.5% in 2022, with minimal impact from the new coronavirus variant and the national elections providing a boost, the Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) said on Tuesday.

FFCCCII President Henry Lim Bon Liong said at the Pandesal Forum on Tuesday that “2022 will be a good year for economic recovery for Asia, especially for the Philippines.”

“Actually ’yung 6.5%, conservative pa nga ’yun eh. (The 6.5% estimate is conservative) We are looking at 7.5% …we don’t rely on statistics, but we rely on the (input) of our friends from business because FFCCCII is an umbrella of 70 different business organizations,” he said at the forum in Quezon City.

“Everybody has been optimistic regarding our recovery next year…. Itong bagong variant na ito, ’di talaga ito aapekto sa Pilipinas (This new Omicron variant will not have much of an impact on the Philippines).”

“Nakikita natin na medyo bumababa ang mga COVID (We are seeing the decline of COVID cases) and hopefully this will continue. And then there will be also (an) election.”

Asked what the federation is expecting from the next government, Mr. Lim Bon Liong said: “We are looking for a President that will give the priority to agriculture and education.”

Mr. Lim Bon Liong said the federation has so far raised P12 million for victims of Typhoon Odette (international name: Rai), with its member associations dispatching relief packs containing rice, instant noodles and canned sardines to Negros Occidental, Southern Leyte, Western Samar, Surigao City and Cagayan de Oro City.

Last year, FFCCCII’s Chinese Community Calamity Fund raised P300 million for COVID-19 relief nationwide, providing face masks and other medical supplies to individual beneficiaries as well as laboratory equipment for the Philippine Red Cross. — Jaspearl Emerald G. Tan

The key to a COVID-free Christmas: Assume everyone has it

December 22, 2021 | 12:05 am

By Brontë H. Lacsamana

WITH the Department of Health (DoH) reporting on Monday three cases of Omicron, the latest coronavirus variant of concern, the Philippines must be cautious about gathering over the holidays.

“[We should be concerned] because even if a person is fully vaccinated, they can still acquire the infection — but milder — and be a carrier to others,” said Dr. Kiara Marie H. Padua, a senior resident of internal medicine at the Makati Medical Center (MMC), via Messenger. “We have to take into account that present vaccines may not be as effective with the Omicron variant.”

Last week, the country’s nationwide mass vaccination campaign was affected by Typhoon Odette, which hit areas in Visayas and Mindanao and delayed inoculation. It also resulted in the Philippines’ lowest daily tally of cases since May 2020 due to multiple laboratories’ inability to submit data amidst the typhoon.

Despite this downward trend, families and friends must follow recommendations by the Inter-Agency Task Force in order to prevent a surge.

Health Undersecretary Maria Rosario S. Vergeire also said in a media forum on Monday that the decline of national admissions and severe cases since October doesn’t mean people should be lax about the minimum public health standards.

Mutations have possibly made Omicron more infectious and more resistant to vaccines, according to various research fellows. Hence the safest bet is little to no contact with anyone, vaccinated or not.

KEEP IT SMALL

MMC’s Dr. Padua still prefers virtual Christmas parties on video conferencing platforms like Zoom. However, after two years of intermittent lockdowns, Zoom fatigue, and the increasing need for physical interaction, Filipinos are itching to gather face-to-face.

In that case, the key is to keep gatherings small.

“Current recommendations of the DoH at Alert level 2 for indoor and outdoor gatherings is 50% and 70% respectively, so the number will primarily depend on the space provided,” she said.

This means an entire space’s seating capacity should only be half-filled if indoors, and less than three-fourths filled if outdoors.

DISTANCE, VENTILATION

If dining out, people should look for alfresco areas with social distancing, said Dr. Padua.

Jose Maria “Joey” Concepcion III, presidential adviser for entrepreneurship and founder of Go Negosyo, said in a Dec. 15 webinar that the private sector has committed to follow all protocols.

“They have pledged to uphold public health standards and safe places in their establishments, to keep watch and enforce these among their members,” he said, adding that the Filipino public should seek out these places and remain vigilant as to whether social distancing and good ventilation are maintained or not.

TEST, ISOLATE

Dr. Padua also advised testing as a precaution before and after a trip or gathering.

“Possibly isolating before and after with at least an antigen swab can help — but not totally lower the risk,” she said. “Again, antigen swabs are not highly specific. This means that once you are antigen negative, you are not necessarily negative.”

It is best to assume that everyone, even oneself, may be infected. Isolation despite testing negative would be wise.

The usual practice is to take the tests 48 hours prior to the event provided that the person will quarantine from the time of swab, she added.

A safe but happy Christmas season without a serious surge can be possible — as long as Filipinos take a proactive stance on their health.

IMI installs first EV charging, transport system for Ayala

December 22, 2021 | 12:05 am

Integrated Micro-Electronics, Inc. (IMI) installed an electric vehicle (EV) charging and transportation system for its listed parent firm, Ayala Corp.

In a disclosure to the exchange on Tuesday, IMI said the EV charging and transportation system was placed at the Ayala 30^th Mall last week, on Dec. 17.

“We have been part of this ecosystem on a global basis; and now that we’re contributing locally, we are all the more proud to be deeply involved [in] this major disruption here in our country,” IMI Chief Executive Officer Arthur R. Tan said.

The company brought TGOOD LINCHR’s EV chargers for the project. It said IMI China builds the electronics and assembles the power supply systems of the EV chargers.

TGOOD LINCHR is said to be the largest EV charging infrastructure provider in the world.

The company worked with Ayala Land, Inc., TGOOD, GREENSTRUM, and Global Electric Transport for the new charging station. IMI said the project is done in support of the Ayala group’s commitment to achieving net-zero greenhouse gas emissions by 2050.

“We hope to be a catalyst for technology that drives carbon neutrality,” Mr. Tan said.

IMI shares at the stock exchange went up 4.45% or 37 centavos to close at P8.68 apiece. — Keren Concepcion G. Valmonte

Converge gets top rating for maiden bond offering

December 22, 2021 | 12:04 am

Converge ICT Solutions, Inc. announced on Tuesday that the Philippine Rating Services Corp. (PhilRatings) had assigned it a PRS Aaa rating with a stable outlook for its planned maiden bond issuance worth P5 billion.

“The Converge maiden bond offering has been granted a ‘PRS Aaa rating with stable outlook’ due to its position in the fixed broadband market following its spectacular growth in recent years and its strong cash flow that provided the company flexibility in its network rollout,” Converge said in an e-mailed statement.

On its website, PhilRatings says that a company rated PRS Aaa has a “very strong” capacity to meet its financial commitments “relative to that of other Philippine corporates.”

“A PRS Aaa is the highest Corporate Credit Rating assigned on the PRS scale.”

Converge, which aims to cover 55% of Philippine households by 2023, said the funds to be generated from the proposed bond offering would be used to support its capital expenditures.

The bond issuance has up to P5-billion oversubscription option.

“We’re pleased that our prudent fiscal management, coupled with a strong operational performance, throughout the year has garnered us the highest credit grade from PhilRatings,” Converge Chief Executive Officer Dennis Anthony H. Uy said.

For her part, Converge President Maria Grace Y. Uy said: “Gaining this seal of approval from PhilRatings signals that our debt papers pose minimal credit risk.”

“Our strong liquidity and market position should give confidence to potential investors,” she added.

Converge’s attributable net income for the first nine months of the year went up by 137% to P5.20 billion from P2.19 billion in the same period in 2020.

January-to-September revenues increased by 76% to P18.83 billion from P10.68 billion last year.

Converge ICT shares closed 0.31% higher at P32 apiece on Tuesday. — Arjay L. Balinbin

WHO sounds warning over fast-spreading Omicron

December 22, 2021 | 12:04 am

GENEVA — The Omicron variant of the coronavirus is spreading faster than the Delta variant and is causing infections in people already vaccinated or who have recovered from the COVID-19 disease, the head of the World Health Organization (WHO) said on Monday.

WHO chief scientist Soumya Swaminathan added it would be “unwise” to conclude from early evidence that Omicron was a milder variant than previous ones. “… With the numbers going up, all health systems are going to be under strain,” she told Geneva-based journalists.

The variant is successfully evading some immune responses, she said, meaning that the booster programs being rolled out in many countries ought to be targeted towards people with weaker immune systems.

“There is now consistent evidence that Omicron is spreading significantly faster than the Delta variant,” WHO Director-General Tedros Adhanom Ghebreyesus told the briefing.

“And it is more likely people vaccinated or recovered from COVID-19 could be infected or re-infected,” Dr. Tedros said.

Their comments echoed the finding of a study by Imperial College London, which said last week the risk of reinfection was more than five times higher and it has shown no sign of being milder than Delta.

WHO officials said however that other forms of immunity vaccinations may prevent infection and disease.

While the antibody defenses from some actions have been undermined, there has been hope that T-cells, the second pillar of an immune response, can prevent severe disease by attacking infected human cells.

WHO expert Abdi Mahamud added: “Although we are seeing a reduction in the neutralization antibodies, almost all preliminary analysis shows T-cell mediated immunity remains intact, that is what we really require.”

However, highlighting how little is known about how to handle the new variant that was only detected last month, Dr. Swaminathan also said: “Of course there is a challenge, many of the monoclonals will not work with Omicron.”

She gave no details as she referred to the treatments that mimic natural antibodies in fighting off infections. Some drug makers have suggested the same.

ENDING THE PANDEMIC

In the short term, Dr. Tedros said that holiday festivities would in many places lead to “increased cases, overwhelmed health systems and more deaths” and urged people to postpone gatherings.

“An event canceled is better than a life canceled,” he said.

But the WHO team also offered some hope to a weary world facing the new wave that 2022 would be the year that the pandemic, which already killed more than 5.6 million people worldwide, would end.

It pointed towards the development of second and third generation vaccines, and the further development of antimicrobial treatments and other innovations.

“[We] hope to consign this disease to a relatively mild disease that is easily prevented, that is easily treated,” Mike Ryan, the WHO’s top emergency expert, told the briefing.

“If we can keep virus transmission to minimum, then we can bring the pandemic to an end.”

However, Dr. Tedros also said China, where the SARS-CoV-2 coronavirus was first detected at the end of 2019, must be forthcoming with data and information related to its origin to help the response going forward.

“We need to continue until we know the origins, we need to push harder because we should learn from what happened this time in order to [do] better in the future,” he said. — Reuters

ARTA: Construction permit process streamlined at national, LGU level

December 22, 2021 | 12:04 am

SEVEN government agencies signed an agreement on Tuesday signifying their intent to reduce the steps and processing time for obtaining construction-related permits.

“The new policy reduces the steps in securing construction-related permits from four to three steps and the processing time for simple transactions from five days to three days,” Anti-Red Tape Authority (ARTA) Deputy Director-General Ernesto V. Perez said during the virtual signing of the joint memorandum circular (JMC).

The JMC also removes the notarization requirement for application forms. The memorandum circular covers all cities, municipalities and relevant National Government agencies.

The JMC, which updates the 2018 guidelines on the processing of construction-related permits, sets the standards for processing construction-related permits such as building permits, certificates of occupancy and other ancillary and accessory permits issued by local government units (LGUs).

It also provides guidelines on the streamlining of local government processes related to the issuance of construction-related permits and certificates.

Under the JMC, LGUs are directed to classify construction-related applications for building permits and certificates of occupancy into simple, complex, and highly technical.

Simple applications cover the construction of private garages (not more than 90 square meters), carports, sheds, agricultural buildings, fences over 1.80 meters in height, and tanks and towers, among others.

Complex applications cover the construction of multiple-unit residential houses, single detached residential houses, commercial buildings, warehouses, and market buildings, among others.

Highly-technical applications cover the construction of buildings exceeding nine storeys such as commercial and market buildings.

“This means that the processing time for simple transactions will be reduced from five to three days,” ARTA said in a statement.

“There will also be a set processing time of seven days for complex transactions and 20 days for highly technical transactions in alignment with Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018,” it added.

The JMC also calls for the setting up of a one-stop shop for construction permits in all cities and municipalities.

An oversight committee on construction permit reform will also be formed to ensure compliance.

Signatories to the JMC were Interior Secretary Eduardo M. Año, Trade Secretary Ramon M. Lopez, ARTA Secretary Jeremiah B. Belgica, Information and Communications Acting Secretary Emmanuel Rey R. Caintic, Professional Regulation Commission Chairman Teofilo S. Pilando, Jr., Public Works and Highways Acting Secretary Roger G. Mercado, and Bureau of Fire Protection Director Louie S. Puracan.

Mr. Caintic replaced former Secretary Gregorio B. Honasan II, who filed his certificate of candidacy for senator on Oct. 8. — Arjay L. Balinbin