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Pharmally delivered 2M surgical masks without request from DBM-PS; test kits with limited shelf life delivered

FREEPIK

THE GOVERNMENT’S largest medical supplier delivered two million surgical masks “in advance” without a request from the budget department’s procurement service, said Senator Ana Theresia N. Hontiveros-Baraquel on Friday.

Ms. Hontiveros, speaking at the Senate blue ribbon committee hearing, presented a text message from Pharmally regulatory affairs head Krizle Grace Mago to a former staffer of the Procurement Service of the Department of Budget and Management (PS7-DBM) saying that Pharmally had delivered two million face masks. The PS-DBM employee replied in surprise, noting that the company supposedly only had 900,000 in stock.

The senator said that this occurred before the request for quotation had been given, as well as the notice of award.

Raymond A. Abrea, a certified public accountant and the President of the Abrea Consulting Group, said that after auditing Pharmally’s financial statements, “some accounts did not add together.”

Senator Francis Pancratius N. Pangilinan noted that the company’s records were “opaque” and confusing because, as presented by Mr. Abrea, not all documents were included. The Senate body on Friday moved to subpoena Pharmally’s books, account ledgers, and other financial records.

In the text exchange, Ms. Mago also said she was only told to deliver the goods by a certain “boss.”

Ms. Mago, the regulatory affairs head who replied to the text messages for Pharmally, said that she took her insructions from Pharmally Director Linconn Ong and co-owner Mohit Dargani, who both said they could not recall the two million mask advance transaction. — Alyssa Nicole O. Tan

TEST KITS

Meanwhile, the blue ribbon committee also learned that P5-billion worth of test kits were procured and accepted by both the health department and the budget department’s procurement service despite having a shelf life below the required specifications.

Budget inspector Mervin Ian D. Tanquintic, who signed three inspection reports for this delivery, confirmed that based on the terms of reference, they would normally reject transactions inconsistent with required specifications.

Senator Pangilinan said that the test kits were procured from Pharmally within two months. These kits were set to expire after six to 10 months, but based on the Department of Health’s requirements, the procured test kits should have a shelf-life of 24 to 36 months, he added.

“It was determined that the kits would be consumed prior to the expiration date,” said Mr. Tanquintic in the meeting Friday.

“It would have been very irresponsible if we didn’t accept the supply,” Health Secretary Francisco T. Duque III said at the hearing in English and Filipino, “because we know that we’ll be able to make use of all of them”.

The secretary added that “the situation was really dire, the supply was scarce, if almost none, the demand was really acute and overwhelming, so it was very difficult.” — Alyssa Nicole O. Tan

House probe sought on proposed limited face-to-face classes

QUEZON CITY Rep. Alfred D. Vargas has filed a resolution seeking a House inquiry into plans for limited face-to-face classes in the country.

House Resolution 2204, filed on Tuesday, directs the House Committee on Basic Education and Culture to look into the proposed implementation of blended and distance learning options, specifically limited face-to-face classes in schools.

The resolution noted the Department of Education’s (DepEd) proposed pilot run of limited face-to-face classes in 120 public and private schools. The classes will follow strict health protocols and will be subject to the approval of the President.

The resolution also noted that concerns have been raised by teachers and educational groups on the need for more technology-based training and support, especially in teaching for senior high school students.

“It is the duty of the government to ensure that quality and accessible education is delivered, and that our graduates are equipped with sufficient knowledge… to take part in nation-building amidst the challenges brought about by the COVID-19 (coronavirus disease 2019) pandemic,” said the resolution.

The DepEd said in a House budget briefing Tuesday that they need an additional P37 billion for laptops and internet service allowance to assist teachers in distance learning.

As of Wednesday, DepEd has recorded 26.30 million students enrolled for this school year, surpassing last year’s 26.22 million. — Russell Louis C. Ku

Spiders in the Cargo: Customs finds 827 spiders smuggled in air postal parcels

Over 800 spiders and spiderlings were found smuggled in three air postal parcels at the Central Mail Exchange Center at the Ninoy Aquino International Airport on Sept. 14.

The Bureau of Customs Port of NAIA, along with the Environmental Protection Compliance Division, found 809 spiderlings and 17 adult spiders concealed small plastic vials in packages which were supposed to contain figurines and medicine said the Customs bureau in a statement released on Friday.

The three parcels came from Poland and were addressed to residents of Pasay City, Parañaque City, and Batangas.

“The spiderlings and spiders were immediately turned over to the Department of Environment and Natural Resources Wildlife Traffic Monitoring Unit (DENR WTMU) pursuant to Customs Administrative Order No. 10-2020,” said the statement.

The DENR is building a case against the importer and co-conspirators for violation of RA 9147, aside from seizure and forfeiture proceedings “for violation of Section 1113 in relation to Section 117 and RA 9147.” The Bureau of Customs, meanwhile, “shall conduct parallel case build-up for possible prosecution of violation of Section 1401 of the CMTA (Customs Modernization and Tariff Act).”

Globe reaches 1M fiber-to-the-home lines target

Globe Telecom, Inc. has reached its target of laying one million fiber-to-the-home lines ahead of its year-end deadline. 

Part of Globe’s P70 billion in capital expenditures for the year, the fiber lines were rolled out to meet rising demand for fast internet while people work from home during the pandemic. 
 

“With rollouts in full swing, we expect to sustain the momentum until the end of the year,”  Globe Senior Vice President for Program Delivery, Network Technical Group Joel R. Agustin said. 

“All of our regional teams delivered big numbers especially in Luzon that helped reach our aspiration despite the continuing challenges of the pandemic.” 

The telco has been reaching out to Globe At Home customers connected to old facilities and plans to upgrade their lines. 

Fiber connection improves internet speed compared to copper lines. 

“Fiber provides high-speed internet allowing customers to send data at much higher bandwidths, download or upload large files faster, stream high-definition videos and webinars, and use multiple online programs to run simultaneously to name a few of its benefits and advantages,” Globe said. — Jenina P. Ibañez 

Cebu Pacific requires COVID tests for HK-bound travelers

Company handout

Budget carrier Cebu Pacific, operated by Cebu Air, Inc., on Friday rolled out its Test Before Boarding program for Hong Kong-bound travelers.  

This comes after Hong Kong’s 14-day ban on Cebu Pacific from transporting passengers from Manila ended on Sept. 16. Separate bans were placed on both Cebu Pacific and Philippine Airlines after some passengers tested positive for the coronavirus disease 2019 (COVID-19) upon arrival. 

Cebu Pacific will now require all passengers to be tested and receive negative results at the airport before being allowed to travel. The airline in a statement on Friday said it will shoulder the antigen test costs until Sept. 30. 

“Antigen test results will be released within 30 minutes, and only passengers with negative results may proceed to the check-in area,” the airline said.  

Passengers who are not able to take the test or those who receive a positive COVID-19 result will not be allowed to check in. Those guests may rebook, store money in a travel fund, or request for a refund. 

Antigen testing for Hong Kong-bound travelers is available from 1:30 a.m.-3:30 a.m. six times weekly. 

Passengers travelling to Hong Kong must also submit negative RT-PCR test results done within 72 hours before the scheduled departure time. — Jenina P. Ibañez 

BSP fully awards 28-day bills

THE BANGKO SENTRAL ng Pilipinas (BSP) fully awarded its offer of short-term bills on Friday even as banks asked for higher yields following the increase in US Treasury rates ahead of the Federal Reserve’s policy review. 

The BSP raised P110 billion as programmed via its offer of 28-day bills on Friday, with tenders reaching P135.8 billion. However, the demand was lower than the P137.82 billion in bids seen last week. 

Accepted rates ranged from 1.7% to 1.74%, a slightly narrower margin compared to the 1.7% to 1.7415% band logged during the previous auction. This caused the average rate of the bills to increase by 0.09 basis point (bp) to 1.719% from the 1.7181% quoted previously. 

The BSP bills and the term deposit facility are used by the central bank to gather excess liquidity in the financial system and guide market rates.  

Rates for the BSP’s one-month bills inched up to track US Treasury yields’ ascent ahead of the Federal Open Market Committee meeting next week, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said. 

The yield on the 10-year US Treasuries on Thursday increased 2.9 bps to 1.333%, while the rate of the 30-year paper inched up 1.2 bps to 1.881%, Reuters reported.  

The Fed will review its policy settings on Sept. 21 to 22. The market is waiting for more hints regarding the timeline of their plan to wind down asset purchases. 

Following its July meeting, the Fed said it will keep rates low until the US economy has achieved maximum employment and inflation settles at 2% over the longer run. 

Mr. Ricafort said the higher yields sought by banks for the BSP bills reflects how the retail dollar bond (RDB) offering of the national government “siphoned off some of the excess liquidity in the financial system”. 

The Bureau of the Treasury on Wednesday raised an initial $866.2 million through its maiden sale of RDBs. It borrowed $551.8 million from the five-year notes and $314.4 million via the 10-year RDBs during the price-setting auction. — L.W.T. Noble 

DBP extends P8.5B in loans for firms’ recovery

THE Development Bank of the Philippines (DBP) extended loans worth P8.5 billion in the first half of the year to support firms’ recovery from the impact of the coronavirus pandemic. 

The loans were extended to 90 firms across the country under the bank’s Rehabilitation Support Program on Severe Events (RESPONSE) and its sub-program that caters to micro-, small-, and medium-sized enterprises (MSMEs), DBP President and Chief Executive Officer Emmanuel G. Herbosa said in a statement on Friday. 

Broken down, 43% or P4.8 billion of the loans went to 30 borrowers mainly in Luzon with businesses related to accommodation and food service industries, wholesale and retail trade, public administration and defense, manufacturing, financial and insurance activities, and other service activities. 

Meanwhile, the loan program’s sub-unit catering to MSMEs extended credit worth P3.7 billion to 60 borrowers. This financed 24 projects in Mindanao, 21 in Visayas and 15 in Luzon that were focused on wholesale and retail trade, financial and insurance activities, agriculture, forestry and fishing, and accommodation and food service industries.  

“DBP is poised to provide the strategic assistance to our development partners in the business community and to fellow government institutions as they improve current systems and boost continuity programs to mitigate the impact of future crisis situations,” Mr. Herbosa said. 

The RESPONSE program of the bank caters to DBP and non-DBP borrowers affected by calamities such as typhoons, floods, drought, pest and disease infestations, earthquakes, peace and order problems, and other similar events that cause significant socio-economic damages.  

Loans granted under the program have a repayment period of up to 15 years inclusive of a three-year grace period for public borrowers and up to 10 years with a three-year grace period for private institutions. 

Meanwhile, the sub-program for MSMEs offers low interest rates and flexible terms for registered medium enterprises, including start-ups and cooperatives engaged in agri-fishery and non-essential businesses. It also includes wholesale lending to rural banks, thrift banks, microfinance-oriented banks, cooperatives and microfinance institutions, which in turn can be tapped for relending to MSMEs.  

DBP’s net income dropped 62% to P547.83 million in the first quarter from P1.455 billion a year earlier as its operating expenses climbed. 

The lender, which is the country’s designated infrastructure bank, was the sixth largest in the country in terms of assets with P1.102 trillion as of March, based on central bank data. — L.W.T. Noble 

Banking veteran Ramon Sy dies at 91

BANKING VETERAN Ramon Y. Sy passed away on Sept. 16. He was 91. 

His death was confirmed by Apex Mining Co., Inc. where he served as chairman until his death, as well as Asia United Bank Corp. (AUB), where Mr. Sy served as vice chairman and a director since March 2012.  

Mr. Sy was known for his humble beginnings as a messenger at the former Manila branch of Bank of America while attending night classes to finish his studies. He rose from the ranks and eventually became the bank’s country manager. 

AUB on Friday said Mr. Sy was instrumental in the bank’s initial public offering roadshows and public listing in 2013. 

“Mr. Sy, the AUB family is grateful for the years you have dedicated and shared with us. We have nothing but respect and admiration for you, and we will always be grateful for your mentoring and inspiration,” AUB President Manuel A. Gomez was quoted as saying. 

Mr. Sy also previously served as president and chief executive officer of the United Coconut Planters Bank and the International Exchange Bank. He was likewise with the Metropolitan Bank and Trust Corp. in the past as vice chairman. 

He obtained a Commerce degree from the Far Eastern University. He also holds a master’s degree in Business Administration from the University of the Philippines. 

Mr. Sy is survived by his wife, three children, and his grandchildren. — LWTN 

Peso climbs vs dollar on vaccine arrivals

BW FILE PHOTO

THE PESO appreciated versus the greenback on Friday as more vaccines arrived in the country. 

The local unit closed at P49.95 per dollar on Friday, gaining two centavos from its P49.97 finish on Thursday, data from the Bankers Association of the Philippines showed.  

However, it depreciated by 8.5 centavos from its P49.865-a-dollar finish a week earlier.      

The peso opened at P50.04 against the dollar on Friday. Its weakest showing was at P50.05, while its intraday best was at P49.86 versus the greenback. 

Dollars traded slumped to $871.75 million on Friday from $1.273 billion on Thursday. 

The peso strengthened as more vaccine doses arrived in the Philippines, boosting prospects for herd immunity and economic recovery, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said. 

Additional 661,200 doses made by AstraZeneca Plc arrived in the Philippines on Friday morning. They were procured by the private sector through the national government. 

The Philippines has already received over 58.2 million doses of coronavirus vaccines since February. 

Meanwhile, a trader said the peso appreciated on the back of profit-taking ahead of the US consumer sentiment report expected to be released on Friday night. 

PSEi closes lower as Moody’s cuts PHL growth outlook

Philippine Stock Exchange index

SHARES declined on Friday after Moody’s Investors Service cut its growth outlook for the country and amid concerns over the coronavirus disease 2019 (COVID-19) situation.  

The Philippine Stock Exchange index (PSEi) declined by 55.58 points or 0.79% to close at 6,912.85 on Friday, while the broader all shares index lost 27.69 points or 0.64% to finish at 4,295.84. 

“The local bourse dropped…due to profit-taking on the last trading day of the week with a spillover of negative sentiment after Moody’s Investors Service trimmed its Philippine [economic] growth projection for 2021 to 4.8% due to the reimposition of strict lockdowns and slow vaccine rollout,” Philstocks Financial, Inc. Research Associate Claire T. Alviar said in a Viber message.   

“Net foreign selling…also weighed on the performance of the market,” she added.  

“The index finished lower as the new coronavirus cases in the country remain elevated, causing some investors to feel concerned over its impact on the economy,” Timson Securities, Inc. Trader Darren Blaine T. Pangan said in a separate Viber message.   

Moody’s Investors Service on Thursday downgraded its economic growth outlook for the country to 4.8% from its 5.8% forecast it gave in July. 

Meanwhile, the Health department reported 21,261 COVID-19 cases with a 27% positivity rate on Thursday, which brought the national tally to over 2.30 million. Active cases stood at 177,946.  

As of Sept. 16, the country has administered nearly 40.52 million COVID-19 jabs with the fully-vaccinated reaching almost 17.98 million, according to the Health department’s national vaccination dashboard.   

Metro Manila is under an alert level system with granular lockdowns until the end of the month.  

Majority of sectoral indices closed the week in the red except for financials, which gained 9.93 points or 0.69% to end at 1,442.46.   

Meanwhile, services lost 40.8 points or 2.18% to 1,830.50; mining and oil dropped 162.86 points or 1.69% to 9,446.88; property went down by 35.88 points or 1.16% to 3,039.91; industrials declined by 74.88 points or 0.73% to 10,171.96; and holding firms shed 26.65 points or 0.38% to 6,987.06.   

Value turnover soared to P15.22 billion with 1.81 billion issues traded on Friday, more than double the P7.37 billion with 1.07 billion shares seen the previous day.   

Decliners beat advancers, 119 against 74, while 52 names closed unchanged.   

Foreigners turned sellers anew with P812.96 million in net outflows on Friday, from the P53.9 million in net purchases seen on Thursday. — Keren Concepcion G. Valmonte 

Sydney pilots home quarantine as Australia looks to reopen border

Image via sydneyairport.com.au

SYDNEY — Australian officials will trial a home quarantine system for fully vaccinated international travelers arriving in Sydney, Prime Minister Scott Morrison said on Friday, as the country moves to reopen its borders despite persistent coronavirus disease 2019 (COVID-19) cases.  

Australia closed its international border in March 2020 in response to the pandemic, allowing entry almost exclusively to citizens and permanent residents who are required to undergo a mandatory two-week hotel quarantine at their own expense.  

“This is the next step in our plan to safely reopen, and to stay safely open,” Mr. Morrison said, adding the trial could set the standard for the way “we live with COVID-19.”  

Sydney, which has received more returning residents from abroad than other Australian city, will trial the seven-day home quarantine program later this month.  

Authorities will use a mobile phone app and face recognition technology to monitor compliance by around 175 people, including residents, non-residents and some Qantas air crew.  

“This is very welcome news for our crews who have been flying overseas to bring Australians home and to carry essential freight, chalking up months in quarantine since the pandemic began,” Qantas Chief Executive Alan Joyce said in a statement.  

The use of the technology, already piloted with returning defense personnel in South Australia state, has been criticized by privacy campaigners.  

Australia has locked down Sydney and Melbourne, its largest cities, and the capital Canberra, impacting nearly half its 25 million population, in response to an outbreak of the highly infectious Delta variant that began in June.  

Victoria reported 510 new cases, the majority in state capital Melbourne, on Friday, its second-highest daily rise this year, and one death. New South Wales reported 1,284 new cases, most in Sydney, down from 1,351 on Thursday, and 12 deaths.  

Mr. Morrison announced the home quarantine trial ahead of a national cabinet meeting later in the day where federal and state leaders plan to discuss vaccine passports and further easing of curbs.  

The federal government’s reopening plans are predicated on Australia reaching a 70–80% vaccination rate for its adult population. The national rate is currently at around 45% but is expected to pick up speed with just over 70% of people over the age of 16 having received a first dose.  

Both New South Wales and Victorian leaders have outlined new freedoms for vaccinated adults, with some restrictions in gatherings and travel in Melbourne to be eased from Friday night after Victoria reached its 70% first-dose target a week early.  

However, not all state and territory leaders agree with the reopening plans, with some preferring to maintain an eradication strategy.  

Even with the fast-moving Delta outbreak, Australia has largely avoided high numbers seen in many comparable countries, with some 82,000 cases and 1,141 deaths, through swift lockdowns and hotel quarantine for international travelers. — Renju Jose/Reuters  

US sends 2.58 million more COVID-19 vaccine doses to Philippines

Handout

WASHINGTON – The U.S. government will begin shipping 2.58 million more doses of COVID-19 vaccine to the Philippines on Thursday through the COVAX global distribution program, a White House official said on Thursday.

The latest shipments of vaccines made by Pfizer Inc and Germany’s BioNTech, bring the total number of vaccines sent to the Philippines to just over 9 million, the official said.

Scientific teams and legal and regulatory authorities from both countries worked together to ensure prompt delivery of safe and effective vaccine lots to the Asian nation, the official added.

Last week, U.S. President Joe Biden’s national security adviser Jake Sullivan met with the foreign and defense ministers of the Philippines during their visit to Washington to mark the 70th anniversary of the two countries’ Mutual Defense Treaty.

At the time, Sullivan announced that the United States would provide an additional $11.3 million in COVID-19 assistance to the Philippines, bringing total U.S. COVID-19 assistance to the Philippines since the start of the pandemic to $37 million, in addition to the millions of vaccine doses donated. — Reuters

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