US-based biotech firm to expand PHL office, hire Filipino developers

November 10, 2021 | 12:03 am

INTERVENN BIOSCIENCES, a US-based biotech firm, is hiring 100 full-time employees in the Philippines as it prepares to open a new office in Podium’s West Tower in Mandaluyong City.

More than half of the Philippine team will be composed of software developers. The rest will handle IT (information technology), cybersecurity, and UX (user experience).

“We expect to be over 150 employee-strong in 2022,” said Randy N. Barr, InterVenn’s chief information security officer, in an e-mail to BusinessWorld. “We are taking advantage of some of the great talent in the Philippines — not just for our software development team but also for security skillset, including individuals with good experience in IT, to support our growing organization.”

The new site, set to open on Jan. 15, 2022, expands the local team’s roster of developers and engineers that form the backbone running the company’s proprietary artificial-intelligence (AI) technology.

Group3 Design studio has been commissioned for its construction as well as for its design, which Mr. Barr says promotes natural osmosis and collaboration.

“One hundred percent of our software is done in the Philippines,” InterVenn’s Chief Executive Officer Aldo Carrascoso said in a press statement. “Our engineering team in our [present] Mandaluyong City office takes care of the cloud infrastructure, frontend, backend, and even security.”

Close to a billion pesos will be funneled to the company’s Philippine operations for 2021–2022.

“We love the culture that is inherent within Filipinos in our work spaces,” Mr. Barr told BusinessWorld. “We will blend that [culture] with the flexibility that most tech startups have but we will adjust it to fit [with] InterVenn.”

InterVenn is a pioneer in glycoproteomic research and development, and employs a platform run by artificial intelligence and mass spectrometry (which characterizes and sequences different proteins) to help advance cancer solutions and other related initiatives.

More information on job openings is found at the company’s career page. — Patricia B. Mirasol

Alec Baldwin calls for police on film sets to monitor gun safety

November 10, 2021 | 12:03 am

LOS ANGELES — As Hollywood considers new safety measures following the fatal shooting during filming of Western movie Rust, actor Alec Baldwin said on Monday he believed film and TV productions should hire police officers to monitor weapons on sets.

Mr. Baldwin accidentally shot and killed cinematographer Halyna Hutchins on Oct. 21 after being told the gun he was rehearsing with on the Rust set in New Mexico was “cold,” or safe to use, according to the Santa Fe County Sheriff’s Office.

Authorities are trying to determine how a real bullet would wind up in the gun handed to Mr. Baldwin. Attorneys for the Rust armorer, who oversaw weapons on the set, said she believed she had loaded it with dummy rounds that were incapable of firing.

Since the incident, producers and crew members have been weighing whether new steps should be taken to prevent a similar tragedy in the future. Mr. Baldwin said he believed productions should hire police to make sure guns used in filming are safe.

“Every film/TV set that uses guns, fake or otherwise, should have a police officer on set, hired by the production, to specifically monitor weapons safety,” Mr. Baldwin posted on Twitter. Others have called for banning real guns from movie and TV sets. Actor Dwayne Johnson said last week that his future productions would only use rubber guns during filming. — Reuters

DMCI posts P3.99-B net earnings in Q3

November 10, 2021 | 12:03 am

DMCI Holdings Inc.’s attributable net income more than doubled to P3.99 billion in the third quarter from P1.88 billion in the same period in 2020.

In a disclosure published on the Philippine Stock Exchange website on Tuesday, DMCI Executive Vice-President and Chief Finance Officer Herbert M. Consunji said the 113% increase in its earnings came on the back of “recovering demand and record-setting prices for coal, nickel and electricity, combined with higher accomplishments by the construction business.”

With this, DMCI’s nine-month net income soared by 245% to P13.48 billion from P3.91 billion in the same period last year.

DMCI’s core net income also jumped 113% to P4.01 billion in July to September 2021 from P1.88 billion last year, bringing its nine-month core profit 173% higher to P12.31 billion from P4.5 billion.

The company’s subsidiaries Semirara Mining and Power Corp. (SMPC) and DMCI Homes accounted for 79% of the holding firm’s core net income for the third quarter, while SMPC, DMCI Project Developers, Inc. (DMCI Homes), and Maynilad Water Services, Inc. contributed 84% of DMCI’s core net income for the first nine months of this year.

From July to September, SMPC’s contribution to DMCI’s core income soared by 428% to P2.28 billion from P432 million due to coal sales despite the power sector’s weak performance.

The global price of coal at the end of the third quarter of 2021 reached $181.12, raising the average selling price of SMPC’s coal by 82% to P2,831 per metric ton (MT) from P1,558 per MT.

Sales volume of coal also increased by 44% to 3.9 million MT (MMT) from 2.7 MMT due to the 50% drop in the power segment’s fuel consumption.

SMPC’s power plant output, however, dropped by 44% to only 873 gigawatt hours (GWh) from 1,657 GWh due to combined 167-day outages of its two units, but was covered by the 55% increase in selling prices to P4.09 per kilowatt hour (KWh) from P2.64 per KWh, “mainly due to a bilateral contract quantity of SCPC which had a fuel pass-through provision and sales to the Wholesale Electricity Spot Market,” it said.

On the other hand, DMCI Homes’ core net income contribution to its parent company declined by 14% to P900 million in the third quarter from P1.04 billion as its operating expenses climbed by 16% due to higher utilities and association dues from its unsold ready-for-occupancy units.

Its cost of sales also grew to P4.22 billion from P4.05 billion, while its revenues went up only by 4% to P5.85 billion.

Meanwhile, Maynilad’s core net income contribution improved by 7% to P406 million in the same quarter from P379 million despite a 6% lower bill volume to 129.6 million cubic meters (MCM) from 137.7 MCM following the imposition of an enhanced community quarantine in August, which caused commercial consumption to drop.

Its total noncash items, however, eased by 8% to P1.09 billion from P1.19 billion “with the absence of expected credit loss provisions.”

For this quarter, the DMCI Group said it “expects elevated coal and nickel prices to magnify the impact of more shipments.”

It added that the easing of mobility restrictions in Metro Manila may also drive business activities and commercial consumption, which could allow electricity and water prices to increase.

DMCI shares improved by 6.93% or 53 centavos to finish at P8.18 apiece on Tuesday. — Bianca Angelica D. Añago

Arts & Culture (11/10/21)

November 10, 2021 | 12:02 am

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Vibal launches book on headhunting, cannibalism

THE VIBAL Foundation, Inc. (VFI) has launched Narciso C. Tan’s Púgot: Head Taking, Ritual Cannibalism, and Human Sacrifice in the Philippines. Encyclopedic and analytical in its approach, this scholarly book dissects the ritualized forms of violence such as human sacrifice, ritual cannibalism, and head taking in the prehistoric Philippines. Púgot weaves together historical data and archaeological studies with traditional myths, legends, and songs to create a seamless narrative of some of the most misunderstood aspects of Philippine culture and to shed light on deeply rooted cultures of violence. Preceding the emergence of Islam and Christianity, deeply held religious beliefs led various Philippine communities to sanction ritualized forms of violence: human sacrifice, cannibalism, and head taking. Púgot forces Filipino readers to contemplate and confront the not-so-ancient past, when their ancestors participated in violent community-wide celebrations and rituals. The book also reveals these practices not in isolation, but as part of the wider Southeast Asian and Austronesian milieu. The book is the latest addition to VFI’s Academica Filipina+, which is an interdisciplinary series that pushes the boundaries of scholarly publishing with smart, literate, and thought-provoking works exploring the Philippine past, present, and future. Púgot: Head Taking, Ritual Cannibalism, and Human Sacrifice in the Philippines is available for online purchase at the Vibal Online Shop at https://shop.vibalgroup.com/, Lazada https://www.lazada.com.ph/shop/vibal-books/, and Shopee https://shopee.ph/vibalgroup. For queries, e-mail customercare@vibalgroup.com and marketing@vibalgroup.com or call 8580-7400 or 1-800-1000-VIBAL (84225).

Robinsons’ Artablado show supports Chosen Children Village

Robinsons Land’s ArtAblado hosts an all-female group of artists who will showcase over 40 artworks this November. Their paintings will be displayed in ArtAblado, at the 3^rd floor of Robinsons Galleria. The painting exhibit dubbed as “ARTtitude” is a showcase of the artistic talents of this group, with subjects ranging from landscapes and still life, to faces and figures. The artists are past or current students of the Creative Hands Workshop, along with members of the Sabado Group and the Art Wednesday Group. For this exhibit, the beneficiary is Chosen Children Village (CCV) in Silang, Cavite. “Due to the pandemic, the CCV now gets less support to fund basic needs such as food, staff salaries, diapers, medicines and for upkeep of the place. Hopefully, whatever we raise from the sale of artworks in the exhibit will augment the dwindling resources of the CCV,” says Maryrose Gisbert, one of the artists. The ARTablado “ARTtitude” exhibit runs until Nov. 16.

2 exhibits open at MO_Space

Two exhibits are opening on Nov. 13 at MO_Space: “A song plays from another room” featuring works by Lesley-Anne Cao at the Main Gallery, and “Tender Hours” featuring works by Pam Quinto at Gallery 2. They will be open for public viewing from Nov. 13 until Dec. 11. In her exhibit, Ms. Cao presents pensive reproductions of scenes and observations of the “ordinary.” In “Tender Hours,” Pam Quinto focuses her lens on blue sky, snapshots of dawn and dusk and moments in between, and also fashions her visions of blue in ceramics. The gallery is open daily from 10 a.m. to 7 p.m. For any inquiries, call 8403-6620, call or text 0917-572-7970, or by e-mail at exhibitions@mo-space.net. The gallery is at the 3^rd level, MOs Design, B2 Bonifacio High Street, 9^th Avenue, Bonifacio Global City.

8 fellows of the Virgin Labfest writing fellowship named

THE Artist Training Division of the Cultural Center of the Philippines (CCP) has announced the fellows accepted to the Virgin Labfest 16 Writing Fellowship Program which takes place online from Nov. 16 to Dec. 5. They are: Aleia Marie H. Anies, Shenn Airelle D. Apilado, Ian Carlo S. Bundoc, Neil Angelo S. Cirilo, Maria Isabel L. Jimenez, Faith Carisa F. Lacanlale, Mikaella Yoj B. Sanchez, and, Zarina T. Sarapuddin. The Virgin Labfest 16 Writing Fellowship Program is a three-week mentorship program on the study and practice of dramatic writing for the stage. The Fellowship Program will conclude in an online staged reading of the fellows’ works directed by Dennis Marasigan on Dec. 4 and 5.

4 exhibits at West Gallery

West Gallery currently has four exhibits on show which are running until Nov. 21. On view are the group exhibit “C20H25N30” featuring works by Edric Go, Bjorn Calleja, Geremy Samala, and Jigger Cruz, and the solo exhibits “Nucleus,” featuring works by Winner Jumalon, “Super Artists,” featuring works by Francis Bejar, and “As Days Go By,” featuring works by Lawrence Canto. “As Days Go By” features a series of eight paintings and eight videos which explore the precariousness of the human condition. The gallery is at 48 West Ave., Quezon City. Visitors must make an appointment via 3411-0336 (landline) or 0915-175-3729 (mobile). The gallery is open on Mondays to Saturdays from 9 a.m. to 4 p.m.

MADE 2021 online catalog out

TO CLOSE this year’s program cycle, the Metrobank Foundation, Inc. (MBFI) presents the 2021 MADE Art Catalogue featuring young and budding artists whose artistry has been shaped by these changing times. The MBFI recognized this year’s MADE awardees through an online awarding ceremony and exhibit which was held on Sept. 16. To access the catalogue, visit https://issuu.com/metrobankartanddesignexcellence/docs/2021_made_art_catalog_-_fa?fr=sYjdkMjQzODIwMTI.

The National Library welcomes vaccinated guests

THE NATIONAL Library of the Philippines (NLP) is now accommodating fully vaccinated visitors. Guests with an approved appointment schedule are advised to bring their certified vaccination cards for presentation to the lobby guard together with their valid ID and QR code. The National Library is open from 9 a.m. to 3 p.m. from Monday to Friday. To book an appointment, visit https://bit.ly/nlp-online-appointment. For more information, visit https://www.facebook.com/NLP1887.

CCP presents Performance Literature Festival

The Cultural Center of the Philippines (CCP) brings back the Performatura: Performance Literature Festival on Nov. 22 to 24, 2021, with the theme Performatura Pandemic Edition (PPE). This event, now virtual, will showcase poetry readings, storytelling, theatrical shows, dance dramas, musical presentations, and even spoken word competitions, through Facebook live stream and Zoom, under the festival’s director Dr. Vim Nadera, a poet and a performance artist. On Nov. 22, or Araw ni Huseng Batute, Performatura celebrates the poet Jose Corazon de Jesus’s 125^th birthday, starting at 10 a.m. with a welcome speech from Arsenio “Nick” Lizaso, CCP president and National Commission for Culture and the Arts chair, followed by a keynote speech by National Artist for Music Ramon Santos about De Jesus’ life as a lyricist. Musicians from Performatibo Manila, will perform. Jesus Jaime Aguila, the direct descendant of De Jesus, gives his response on behalf of his family. From 1-5 p.m. are the finals of the Pambansang Balagtasan; then at 7-10 p.m., Mike Coroza, Jeanette Job Coroza, Felipe de Leon, Jr., and Sonia Roco host a special edition of Pamana ng Lahi, Arte, Kultura, Atbp. Entitled Titik ni Huseng Batute sa P.L.A.K.A. On Nov. 23, CCP Vice-President and Artistic Director Chris Millado opens the day at 10 a.m. by honoring the Bagong Bonifacio through Front Act (Liners) which focuses on the unsung healing heroes who sing. At 1-5 p.m. is Claiming Indie Spaces in Challenging Times, with the Indie Publishers Collab-PH conducting a book launch and a series of storytelling performances. From 7-10 p.m. it is the S.I.P.A. International Performance Art Festival, an inter-cultural project that promotes exchange, solidarity, and peace organized by independent Filipino artists inviting artists from all over the world. On Nov. 24, Araw ng mga Aklat at Akdang Bayan, CCP Board of Trustees Chair Margie Moran Floirendo opens the last day of Performatura. At 10 a.m., via livestream from Los Baños in Laguna, the National Book Development Board (NBDB) inaugurates Book Nook, a concept that realizes reading centers for families living in areas where accessibility to books and the internet are limited. At 1-5 p.m., its Epic Center, with Luzon’s Lam-ang, Visayas’ Hinilawod, and Mindanao’s Darangen taking centerstage via modernized or post-modernized forms of the pre-colonial literature. From 7-10 p.m., the Philippine Librarian Association, Inc. Marks the 87^th National Book Week with Tanghal Makata, a nationwide spoken word contest tackling the theme “Outcomes, Outreach, Outstanding: Library Beyond Boundaries.” For details, visit https://ccpperformatura2021.wordpress.com/ or the CCP Intertextual Division Facebook page.

Course on preventive maintenance for heritage structures and sites offered

The Escuela Taller de Filipinas Foundation, Inc. will be hold “Preventive Maintenance towards Disaster Risk Reduction: A course for Managers and Administrators of Heritage Sites” on Nov. 11 until Dec. 6. Over a blended-learning period of 14 days, combining seven days of synchronous sessions and seven days of asynchronous sessions, attendees shall build their capacities in the proper maintenance of heritage structures and sites and reduce their vulnerabilities to natural and human-induced hazards through preventive conservation. The course is mainly targeted for local government officials from various offices, parish council members, parish priests, and cultural heritage groups. Some topics that attendees can expect are an overview of Philippine Architectural Heritage, developing a Preventive Maintenance Program and Cyclical Maintenance Plan, and basic documentation, condition survey, cleaning, and repair procedures. Among the roster of speakers are David Mason (Senior Heritage Specialist from the Public Works Advisory of New South Wales, Australia), Carmen Bettina “Tina” Bulaong (Executive Director, Escuela Taller de Filipinas), Jeffrey Cobilla, Archt. Michael Querido (Project Officer, Escuela Taller de Filipinas), Sarah Jane S. Pahimnayan-Pagador (architect, Escuela Taller de Filipinas), and Ma. Nicole “Nikky” Angeline Losa (Site Officer, Old La Loma Cemetery Chapel).

NAMCYA 2021 finalists announced

Organizers of The National Music Competitions for Young Artists Foundation, better known as NAMCYA, have announced the finalists in the various categories of the music competition. Those who made the cut after the rigorous selection round include Jabez Ronaldo Lejano, Kyle Adam Lorenzana, and Agung Dayaw Sicam (Junior Guitar Category); Lucio Raphael Binalla and Rayselle Anne Manipol (Children’s Solo Rondalla); Aniweng Na Cuerdas Rondalla, the Enverga Candelaria Rondalla, and the South Cotabato Family Rondalla (Junior Rondalla); and Josemaria Vincent Thomas Collado, Marvic Espino, Evan John Jamisola, Jean Galway Silangcruz, and Josh Rampall Silangcruz (Open Woodwinds). In the Senior Division, the finalists are the Bukidnon Singing Ambassadors and Coro Bicolano (Senior Choir); Denzel Abarquez, Brian Berino, and Reynaldo Gendrano (Senior Piano); Maria Monica Bacus, Alain De Asis, Vincent Del Rosario, Jose Marie Eserjose, and Mishael Romano (Senior Strings-Violin); Kirk Allen Mallorca, Jann Minn Mendoza, and Lance Morrison Tulagan (Senior Strings-Lower Strings); and Carmina Lourdes Atienza, Nerissa De Juan, Maria Corazon Flores, Jomel Garcia, Camille Juanitez, and Jane Florence Wee (Senior Voice). The National Winners in the Traditional Music category are the Kagan Traditional Ensemble, the Madayaw Cultural Ensemble, the Massalingga Dacalan Ensemble, and the Sangasang Ji Anak Ud Malibcong Ethnic Ensemble. The lone Honorable Mention awardee in the Music Video Production category is the PUP Bagong Himig Serenata. The NAMCYA National Finals will be streamed via the NAMCYA Facebook page and webpage on Nov. 23 to 28, from 3 p.m. onwards.

RWM opens Christmas art exhibit

Resorts World Manila (RWM) has opened an art exhibit, the “Christmas Mall-seum,” as part of RWM’s signature holiday celebrations, Grand Fiesta Manila 2021. The “Christmas Mall-seum” at Newport Mall will feature a line-up of 12 of the country’s most prominent artists and art houses over a span of 12 weeks. Selected art pieces will be available for purchase through www.rwmexclusives.com using cash, credit, or RWM membership points, with part of the proceeds from the sales to be donated for the benefit of the Concordia Children Services and San Lorenzo Ruiz Home for the Elderly. For more information on the “Christmas Mall-seum” and other upcoming events, visit www.rwmanila.com.

Federal Reserve warns of peril from rise of risky asset prices, stablecoins

November 10, 2021 | 12:02 am

THE US Federal Reserve is warning that prices of risky assets keep rising, making them more susceptible to perilous plunges if the economy takes a turn for the worse, and cited stablecoins as an emerging threat.

“Asset prices remain vulnerable to significant declines should investor risk sentiment deteriorate, progress on containing the virus disappoint, or the economic recovery stall,” the Fed said in its twice-yearly Financial Stability Report released Monday.

The central bank also said stablecoin threats are growing, that fragility in China’s commercial real-estate sector could spread to the US if it deteriorated dramatically, and that “difficult-to-predict” volatility similar to this year’s meme-stock frenzy could become more frequent as social media increasingly influence trading.

While the Fed is sounding alarms about high asset prices, some economists have said the central bank’s own policies are behind much of the surge. As COVID-19 struck the US in March 2020, the Fed cut interest rates to near zero and began buying massive amounts of Treasuries and mortgage-backed securities, contributing to rallies for stocks and other investments. While equities long ago eclipsed their pre-pandemic levels, the Fed kept its emergency policies in place to help the much-slower recovery in employment.

Last week, the Fed decided to begin scaling back its monthly bond buying, putting it on a path to end the purchases in June and raise interest rates as soon as late 2022. Assuming inflation trails off next year, as the Fed and Biden administration are projecting, it may be at least a few more years until the central bank’s benchmark interest rate is close to the 2.5% level currently seen as normal in the long run.

The Fed’s stability report, which is meant to highlight risks that could undermine the financial system, flagged many concerns that have appeared in previous documents, such as “structural vulnerabilities” in money market funds. The Fed said similar worries can be applied to stablecoins — digital tokens pegged to fiat currencies that underpin much of the trading in Bitcoin and other crypto assets.

In the latest document, stablecoins were cited as being “susceptible to runs” and that any problems could be “exacerbated by a lack of transparency and governance standards regarding the assets backing” them. Last week, the Fed joined the Treasury department and other agencies in urging Congress to pass legislation that would regulate stablecoins like banks with steep capital requirements and constant supervision.

Another area prompting Fed worries is China’s real estate turmoil and its regulators’ focus on highly leveraged firms, including China Evergrande Group.

“Financial stresses in China could strain global financial markets through a deterioration of risk sentiment, pose risks to global economic growth, and affect the United States,” the Fed said.

The US housing market also attracted the Fed’s attention, with the central bank noting that prices have “increased rapidly” since it issued its previous report in May. Still, the Fed said that it’s not seeing the types of dangerous market practices that fueled the 2008 financial crisis.

“Even amid such rapid and widespread price growth, there is currently little indication of highly leveraged real estate investment activity or of a deterioration in underwriting standards,” the central bank said.

The report included a survey of 26 market contacts — consisting of brokerages, investment funds, political advisory firms and other companies —on what they consider to be the top threats to financial stability. As their top concerns, the firms cited persistent inflation, vaccine-resistant COVID-19 variants, China regulatory and real-estate risks, US relations with China, and cryptocurrencies. — Bloomberg

J&J, PCCP develop smoking cessation module

November 10, 2021 | 12:02 am

JOHNSON & JOHNSON Philippines, Inc. (J&J), through its consumer health brand Nicorette, and the Philippine College of Chest Physicians (PCCP) developed a smoking cessation module for training healthcare practitioners in the counseling and treatment of Filipinos who want to quit smoking.

The online module, launched September, is open by request to all public or private institutions or organizations.

“When you talk to a smoker, it’s not just about prescribing medication. It will take roughly 30–40 minutes to do initial counseling and more time to help patients realize their motivations,” said Dr. Glynna Ong-Cabrera, PCCP’s program director, in an interview with BusinessWorld. “You have to train people. If you’re targeting a national scope, it’s important to get all the help you can get.”

She also pointed out the three factors of smoking addiction that make it a complicated disease to treat: the biological (the body craving for more nicotine), the psychological (the need for stress relief), and the sociocultural (smoking as a social practice).

In the Philippines, it was found that 23.8% of adults use tobacco in any form, with 18.7% overall smoking an average of 11 cigarettes per day, according to the Department of Health’s (DoH) latest Global Adult Tobacco Survey (GATS) in 2015. The next GATS will be conducted this year.

The training comes in two modules: brief tobacco intervention, which is mandatory, and intensive counselling, which is optional but highly encouraged. The online module is powered by J&J while its contents were developed by PCCP.

“Before the modules, if you look at Nicorette’s Facebook page, we [J&J and PCCP] have gone through informative routes first through livestreams to explain the smoking cessation landscape as well as the efficacy of nicotine replacement therapy [NRT],” said Jason Khu, senior brand manager for Nicorette in the Philippines.

HOLISTIC TREATMENT
Nicorette, an over-the-counter NRT product that comes in the form of chewing gum, is only part of the solution, he added. Though it provides a steady, medicated stream of nicotine to those trying to quit, support from healthcare practitioners is still necessary.

“NRT provides a sort of steady, medicated amount of nicotine, not the same as cigarettes, but a small amount just to tide over withdrawal symptoms,” said Dr. Ong-Cabrera.

Switching to e-cigarettes or vapes, meanwhile, is not recommended as a cessation technique.

“With vape, what happens is the addiction shifts. Vape doesn’t really stop it. You just shifted from cigarettes to vape and you’re still getting a supply of nicotine,” she said.

Dr. Ong-Cabrera emphasized that combining behavioral and pharmacological therapy increases the chances of success.

“Smoking is very complicated. People think it’s a habit you can quit easily if you want to. There’s this notion of just using medication and quitting, like it’s a wonder drug, and it’s not like that. It’s about the motivation and value of quitting, but because of addiction, people need counseling and help,” she said.

The DoH’s QuitLine 1558, a toll-free hotline service for smokers seeking consultation, provides the first step toward therapy. Quitting, however, is difficult — the 2015 GATS found that only 4% of Filipino smokers who had the intention to quit were successfully able to do so.

With J&J and PCCP’s smoking cessation module for healthcare practitioners, it will be easier to build the capacity to address smoking addiction in the country, said Dr. Ong Cabrera. — Brontë H. Lacsamana

SIDEBAR | Majority of Filipinos think vapes, e-cigs are a ‘serious health hazard’ — survey

NEARLY eight in 10 Filipinos (77%) believe that vaping devices and e-cigarettes pose a “serious health hazard,” according to a recent survey by Pulse Asia Research, Inc., conducted among 1,200 respondents in September.

The survey also found that 74% of respondents support an e-cigarette or vapes-free policy in public places while 70% support restricting access to vapes and e-cigarettes to adults 21 years old and above.

“Medical opinion and public opinion are in agreement: vapes and e-cigarettes are harmful to Filipinos’ health. Senators should heed the call of Filipinos and their doctors and reject the Vape Bill,” said Dr. Maricar B. Limpin, president of the Philippine College of Physicians, in a statement slamming the Senate Bill No. 2239.

The Vaporized Nicotine Products Regulation Act, or Vape Bill, contains provisions easing restrictions on use of flavorings and rolling back minimum age of access to vape from the current 21 years old to 18 years old. It will also shift the regulatory mandate from the Food and Drug Administration to the Department of Trade and Industry.

Finally, there are provisions that will allow vaping in public places. All of these have caused health advocacy groups to condemn the bill.

“Proponents of the Vape Bill are claiming that vapes and e-cigarettes are a healthier alternative to smoking and help smokers quit. This is not true,” explained Dr. Limpin. “There are real health harms in these devices and there is not enough evidence to claim that they help smokers quit.”

She also noted that vape products have been proven to contain cancer-causing agents, which senators must consider as they resume deliberations on the bill next week. At least 7 former health secretaries and 60 medical groups previously opposed it.

As for provisions on flavorings, public interest law group ImagineLaw pointed out that even those who use vape products support their restriction. Pulse Asia’s survey found that 66% of vape-using respondents support a ban on the availability and accessibility of e-cigarette and vape flavors that appeal to children.

“The Vape Bill will introduce more young people and even children to the dangers of vapes and e-cigarettes,” said Sophia San Luis, ImagineLaw executive director, in the statement. “The people have spoken against vapes and e-cigarettes. Our legislators’ duty is to listen and junk the Vape Bill.”

PLDT Home on track to achieve over 1M customers this year

November 10, 2021 | 12:02 am

PLDT HOME on Tuesday said it is on track to meet its goal of connecting more than one million customers this year.

“We are on track to achieve our target to connect more than one million customers to the country’s fastest broadband in 2021,” PLDT Senior Vice-President and Head of PLDT Home Business Menardo “Butch” G. Jimenez said at a virtual briefing.

PLDT Home’s fiber-to-the-home business gained 324,000 customers in the latest quarter, bringing the total customer count to 2.09 million at the end of September.

“We quickly saw the increased demand for fiber, and we immediately responded by scaling our expansion and installation capabilities,” Mr. Jimenez said.

PLDT Home said in an e-mailed statement that its churn rate in the first half of the year decreased to 1.5% from 2.1% in the same period a year ago.

The company anticipates this to go even lower in the coming months as it accelerates the migration program nationwide and connects more customers to PLDT Home.

PLDT, Inc.’s total revenues for the third quarter increased 3.7% to P48.2 billion from P46.5 billion previously.

According to the company, its fiber business contributed over 19% of its total service revenue of P46 billion in the latest quarter, compared to 11% in the same quarter in 2020.

PLDT Home saw its revenue increase 25% to P35.3 billion in the first nine months. Its third-quarter revenue went up 29% to P12.6 billion.

“To support this expanded digital ecosystem, PLDT and its mobile unit Smart continued their network buildout, bringing total capital expenditures to P63.3 billion for the first nine months. PLDT and Smart are on track to meeting the 2021 full-year capex guidance of at least P88 billion,” PLDT Home said.

PLDT’s fiber network has reached more than 50% of total Filipino households at 12.7 million homes passed, it also noted.

PLDT Home also reported that its overall fiber capacity now stands at 5.29 million ports.

“This is after the completion of the 2021 rollout plan for additional 1.7 million fiber ports in September.”

The market for fixed-line telecommunications services in the Philippines is projected at $4.7 billion by 2026, equivalent to a compound annual growth rate of 5%, from a starting point of $3.6 billion this year, according to estimates by the UK’s GlobalData.

The increase will be driven by the “strong growth” in the fixed broadband segment.

PLDT is expected to lead the fixed-line voice services segment in terms of subscriptions through 2026.

“The operator will also top the fixed broadband services market, by subscriptions, supported by its strong position in DSL and FTTH (fiber to the home) service lines,” GlobalData telecoms analyst Hrushikesh Mahananda said.

For the first nine months of the year, the company’s attributable net income declined 4.6% to P18.8 billion from P19.7 billion a year ago.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

First Circle to provide capital to SMEs

November 10, 2021 | 12:01 am

FINTECH FIRM First Circle is eyeing to extend P2 billion in fresh capital to small businesses before this year ends, it said in a statement.

“Our customers are smart business owners who have a very healthy mindset towards taking credit. They are constantly finding opportunities for growth despite less-than-ideal conditions, so rather than standing back and letting them fend for themselves, we want to be there when they need us most,” First Circle Head of Customer Success Marcus Erlano was quoted as saying.

The firm is also reducing the interest rate for its flagship financing to 1.39% per month, it said.

By 2022, they are looking to extend financing to small- and medium-sized enterprises (SMEs) at a rate of 0.99% per month. This rate would be among the lowest for non-collateral loans that can be tapped by local SMEs.

“We have seen first-hand the strength and resilience of business owners across the Philippines who have stared defeat in the face and come out stronger on the other side,” First Circle Chief Executive Officer Patrick Lynch was quoted as saying.

“Families and communities across the Philippines rely on these businesses for their livelihood…,” he added.

First Circle recently introduced a revolving credit line so SMEs can have access to amounts between P250,000 and P5 million, which can be used to cover their day-to-day business needs.

SMEs can apply for the loan online. Results will be released within five to seven business days.

The lending firm previously partnered with government agencies, including the Department of Trade and Industry as well as the Bangko Sentral ng Pilipinas, for SME loan offerings.

First Circle has also launched financial literacy programs across the country. — LWTN

11.11 Sales and Promos

November 10, 2021 | 12:01 am

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Christmas shopping at Ortigas Malls

TICK off one entry on your to-do list and start your Christmas shopping at the 11.11 sale at the Ortigas Malls. Enjoy Christmas deals from participating establishments in Greenhills, Tiendesitas, and Estancia from Nov. 8 to Nov. 14. Exclusive freebies and discounts await Ortigas Community Card members if customers register through the Ortigas Malls app. Try ShopBox, a smart locker service at Greenhills and Estancia which will deliver presents. Shoppers can also use My Home Dashers, a personal shopper and delivery service, to shop from multiple stores and have the gifts delivered directly to the recipients. For details, call the following numbers to order: 0917-815-6640 (Greenhills), 0917-857-0379 (Tiendesitas), 0917-851-9262 (Estancia). Greenhills, Tiendesitas, and Estancia are open from Monday to Thursday from 10 a.m. to 8 p.m., and Friday to Sunday from 10 a.m. to 9 p.m. The three shopping centers have been given a Safety Seal by the San Juan and Pasig local government units (LGUs).

Sunsilk courts the ARMY

HAIR care brand Sunsilk is giving all bonafide ARMY (that is, fans of the K-Pop boy band BTS) a special treat by bringing back the limited edition Sunsilk x BT21 packs. BT21 is a spin-off concept from the boy band “born from a collaborative project between Line Friends and BTS” (according to the BT21 website) that sees the band members as animated characters. These characters are Tata (V), Mang (J-Hope), Chimmy (Jimin), RJ (Jin), Koya (RM), Cooky (Jungkook), Shooky (Suga), and Van (representing the ARMY fans). These BT21 boxes will be available on Shopee and Lazada at 50% off until supplies last. These include two 350ml Sunsilk bottles as well as a limited-edition official BT21 pouch (now P322 from P699). Fans can get the full set featuring all four designs for P1,328. “We want to make it easier for BT21 fans to expand their merch collection so we’re offering this price drop for these limited edition BT21 and Sunsilk collab packs. We want the Army to have something to be excited about, and what could be more fun than having merch items at 50% off?” said Isab Galang, Assistant Brand Manager, Total Shampoo. The limited edition BT21 x Sunsilk pack is available on Shopee and Lazada starting Nov. 11. For the latest news on Sunsilk, visit All Things Hair at https://www.allthingshair.com/en-ph and BeautyHub.PH at https://www.beautyhub.ph.

Fighting misinformation

November 10, 2021 | 12:01 am

Healthy_Pilipinas — HEALTHY PILIPINAS WEBSITE

Scientific information on vaccines and medicines is expected to rapidly change with ongoing studies on coronavirus disease 2019 (COVID-19). People need to keep abreast of the evolving science so that they can make informed decisions that will keep them safe and protected.

Medicine and vaccine manufacturers are uniquely positioned to provide accurate and up-to-date health information. The more people who are accurately informed, the more chances that they can stay healthy amidst the pandemic. If more people are healthy, the faster we unburden our frontliners, our public health system, and the economy.

To fight misinformation and empower Filipinos through accurate, up-to-date health information, the Department of Health (DoH), in partnership with the Pharmaceutical and Healthcare Association of the Philippines (PHAP) and United States Agency for International Development (USAID), recently launched the Healthy Pilipinas website (healthypilipinas.ph).

Faced with the dangers of COVID-19, people are seeking information to help them stay protected against this health threat. Thanks to technology, we have been able to receive information and be part of the discourse in real time.

Unfortunately, as the World Health Organization (WHO) warns, the COVID-19 pandemic and the global response to it has been accompanied by a massive infodemic: an overabundance of information — accurate and otherwise — that may make it hard for people to find trustworthy sources and reliable guidance when they need it. This infodemic is a serious threat to people’s lives and to public health.

“Through the Healthy Pilipinas website, we aim to provide Filipinos with accurate health information that is engaging and easy to understand, especially at this time when misinformation is so prevalent online,” said Dr. Beverly Lorraine C. Ho, concurrent Director IV of the DoH Health Promotion Bureau and Disease Prevention and Control Bureau.

PHAP, together with its members Boehringer Ingelheim, Novartis, and Pfizer, supports the DoH campaign to promote the use of verified medical facts to empower people in making health decisions based on accurate information.

In addition to providing information about COVID-19, Healthy Pilipinas also tackles illnesses such as noncommunicable diseases, wellness, and health concerns of different demographic groups such as adult males, adult females, the elderly, and children.

“In the future, we want to build more features in the website that tackle practical health concerns of OFWs, among others,” said medical anthropologist Dr. Gideon Lasco.

Dr. Lasco emphasized the need to ensure the health information in the website is up-to-date, accurate, and culturally contextualized. “There are many health websites, but what we need is a website that caters to the Filipino culture and our people’s specific needs.”

He invited his colleagues in the public health community to contribute information materials to the Healthy Pilipinas website, such as databases on different disease symptoms and medicines available for their treatment.

With all these digital health information efforts, USAID Health Development Foreign Service Officer Mr. Hoang Bui rightly said that access to quality information is truly part of improving health outcomes.

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines (PHAP), which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are at the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

PLDT inks deal with MServ, Spectrum for sustainability initiatives

November 10, 2021 | 12:01 am

PLDT, Inc. inked a deal with Meralco Energy, Inc. (MServ) and Spectrum, Inc. for energy efficiency and sustainability initiatives.

“As we face daunting challenges on how to protect our environment, we believe that entering into partnerships with like-minded organizations such as Meralco (Manila Electric Co.), MServ, and Spectrum can help us contribute more significantly to the preservation of the planet and overall sustainable development,” PLDT and Smart Communications President and Chief Executive Officer (CEO) Alfredo S. Panlilio was quoted to have said during the virtual signing.

PLDT tapped Meralco subsidiary MServ to conduct an energy efficiency audit on 139 facilities of PLDT to check their compliance with the Energy Efficiency and Conservation Act and to identify savings opportunities and operational efficiencies.

MServ will also install magnetic chillers in PLDT’s facilities, which are expected to help it save up to 40% of its operational expenses.

It will likewise conduct electric facility preventive maintenance for 74 PLDT and Smart Communications, Inc. offices annually to “help avoid costly outages and improve the performance of equipment in these facilities.”

MServ will also conduct a full electrical reliability audit of ePLDT data centers and install indoor air quality solutions in PLDT offices.

“MServ is honored to be chosen as PLDT’s partner in its energy efficiency journey. This energy audit is the important first step in this journey and we hope to enable more sustainability projects in the coming years,” MServ President and CEO Ronnie L. Aperocho said during the signing.

Meanwhile, generation company Spectrum, also a Meralco subsidiary, will install solar panels with a total capacity of 483.9 kilowatt-peak in five PLDT sites in Visayas.

The solar panels will generate about 635,845 kilowatts per hour, which is equivalent to P2 million in electricity cost savings per year. The panels will also reduce PLDT’s carbon emissions by 453 metric tons, equivalent to 46,470 trees planted yearly.

Spectrum President and CEO Ferdinand O. Geluz said its partnership with PLDT “is a testament of Spectrum’s commitment to partner with the business sector and communities nationwide in providing an accessible clean energy solution that upholds our collective sustainable development agenda.”

PLDT shares closed unchanged at P1,640 apiece on Tuesday.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — B.A.D. Añago

How PSEi member stocks performed — November 9, 2021

November 10, 2021 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Tuesday, November 9, 2021.