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Petron swings to P6-B profit amid easier mobility

PETRON.COM

PETRON Corp. swung to profitability in 2021 with a reported net income of P6.14 billion from P11.4-billion net loss in 2020 on the back of higher sales volume due to more relaxed quarantine restrictions.

In a press release on Tuesday, Petron said it “continued to bounce back from the impact of the pandemic” after its sale grew by 5% to 82.24 million barrels last year.

“To say that we’ve come a long way since the start of this pandemic would be an understatement. We have recovered significant volumes in key market segments, and more importantly, we have returned profitability to our business,” Petron President and Chief Executive Officer Ramon S. Ang said.

The country’s largest oil refining and marketing company said its retail volume rose 6.4% during the implementation of granular lockdowns, while its industrial sales went up by 2%, pushed by the re-opening of the economy.

“Petron’s lubricant sales recorded the highest growth at 11%, highlighting the strong performance and presence of its locally produced engine oils and other lubricant products in the market,” the company said.

The increase in international prices also played a huge role in the firm’s economy, driving its consolidated revenue for last year to P438 billion, 53% higher than the P286 billion posted in 2020.

“Dubai crude prices breached the $80 per barrel level in the fourth quarter due to recovering oil demand and tighter supply. As a result, it averaged nearly $70 per barrel in 2021, 64% higher than 2020’s $42 per barrel. This is Dubai crude’s highest annual average in the past three years,” the company said.

The San Miguel Corp. unit is also looking forward to the completion of its 184-megawatts (MW) power plant in Limay, Bataan, which, it said, will reduce its refinery’s usage of fuel oil and will convert the feedstock into more fuel for sale.

In January, Petron said it would offer and issue $500-million worth of senior notes to repay debts and partially fund its P12-billion power plant project in Bataan.

Petron shares at the Philippine Stock Exchange on Tuesday went up by 14 centavos or 3.68% to close P3.94 apiece. — Marielle C. Lucenio

Manila Water unit acquires Davao water company

MANILA Water Philippine Ventures, Inc. (MWPV), a wholly owned subsidiary of Manila Water Co., Inc., acquired full ownership of Davao Del Norte Water Infrastructure Co., Inc. (Davao Water) after it bought the shares held by iWater, Inc.

“The acquisition is in line with the company’s strategic direction to maximize the business potential of existing ventures and take on opportunities for growth and expansion in Visayas and Mindanao,” Manila Water said in a disclosure on Tuesday.

Prior to the purchase, MWPV held 51% and iWater held a 49% equity interest in Davao Water.

Davao Water and the water district in Tagum, Davao del Norte partnered to implement a bulk water supply and purchase project, which is being carried out by their joint venture company, Tagum Water Co., Inc.

In 2015, Davao Water formalized a joint venture agreement with the Tagum City water district and formed Tagum Water Co., Inc.

The agreement covers the construction of a bulk water supply system, which includes an intake structure through riverbank filtration, a transmission pipeline, a 5,000-cubic meter water reservoir, and a water treatment plant with a capacity of 38 million liters per day.

The project began delivering water in May 2020 but is expected to fully complete its contract term in 2035.

It is estimated to benefit almost 300,000 people and will serve the water requirements of commercial and industrial establishments in Tagum City.

Manila Water brings water and wastewater services to the east concession zone of Metro Manila and Rizal province. Meanwhile, MWPV serves key metropolitan areas in Batangas, Laguna, Bulacan, Pampanga, Boracay, Iloilo, and Samar.

Manila Water Co., Inc. reported consolidated earnings of P3.7 billion for 2021, which was 18% lower than the previous year due to the pandemic.

In its unaudited report for 2021, revenues dropped 4% to P20.3 billion from P21.1 billion in 2020, due to lower billed volume across all segments in its east zone concession area and in several local subsidiaries, as well as lower customer consumption due to the pandemic.

At the stock exchange on Tuesday, Manila Water shares fell by P1.00 or 5.01% to P18.98 each. — Luisa Maria Jacinta C. Jocson

Art Fair Philippines goes hybrid

AR Art Trail featuring Leeroy New’s artwork Aparisyon (Apparition)

AFTER getting more than 276,000 website views and over 40,000 visitors in its first online edition in 2021, Art Fair Philippines returns as a hybrid event for the 10th edition, which runs from March 23 to April 1.

Since the Art Fair’s first year in 2013 and its last onsite show in 2020, a physical exhibition takes a new space at the Ayala Triangle Gardens and gallery venues, while online exhibitions and activities can be accessed at www.artfairphilippines.com.

“Coming from the pandemic, it’s about time that we move forward by encouraging people to attend activities in person. We thought it was ideal to give everyone a chance to go out and see more things,” said Art Fair Philippines co-founder Geraldine “Dindin” B. Araneta in an online press conference on March 1.

‘DELIBERATELY UGLY’
Art consultant Norman Crisologo and exhibition designer and theater director Ed Lacson will present art installations at the Ayala Tower One Fountain Area for the ArtFairPH/Projects section. The outdoor works will showcase the “baroque quality” of Philippine art, according to Mr. Crisologo.

Art Fair Philippines co-founder Lisa Ongpin-Periquet described the art installations as “the deliberately ugly, the seemingly spontaneous, the recklessly experimental with a unique Filipino sensibility.”

The other featured artists for the Projects section with special exhibitions around the space are the late Arô Soriano, social realist Nune Alvarado, Bjorn Calleja, Johanna Helmuth, Ryan Jara, Doktor Karayom, Tyang Karyel, Aze Ong, Wyndelle Remonde.

Joining the exhibition is Ilonggo artist Melvin Guirhem, this year’s recipient of the Karen H. Montinola Selection.

The inflatable sculpture of Russian artist Sasha Frolova will no longer be shown due to shipping difficulties brought about by the Russia-Ukraine crisis.

“Logistically it became difficult to ship Sasha’s artwork to Manila, after the invasion of Ukraine. We also felt that, perhaps, showing her work for the upcoming fair did not suit the times, when the war has been so devastating for the people of Ukraine,” said Ms. Lopa in a Viber message to BusinessWorld.

The ArtFairPH/Photo section also joins the physical exhibition. Curated by Neal Oshima, Michael Salientes, Mark Nicdao, and Gio Panlilio, the photography exhibition is titled Tattoos, Ternos and Couture, A Celebration of Philippine Fashion Photography.

According to Ms. Araneta, the exhibition hopes to present fashion photography as an art beyond its attachment to fashion brands.

“The curators were afraid that we’re seeing that it’s really been looked at as a service to the garment industry, but this is really a way to highlight the practice of photographers within the fashion industry,” she said.

Appearing on screen at a public amphitheater is a work by New York-based new media artist Jeremy Couillard for The ArtFairPH/Film section. The showcase includes his new film There Is No Up Or Down, Only Attraction (2022) which “explores curious creatures across galactic vistas, pixelated gaming maps, and streetscapes.” Mr. Couillard’s Fuzz Spiral series — a collection of three films based on the artist’s video game Fuzz Dungeon (2021) will also be featured.

The physical art fair will also exhibit works by the chosen artists for #ArtFairPH/Residencies: Derek Tumala for Manila Observatory, Hannah Nantes for Linangan Art Residency, Jao San Pedro for Emerging Islands, Alwin Reamillo for Orange Project, and Faye Abantao for Butanding Barrio. 

Launched in 2021, ArtFairPH/Residencies is open to Filipino artists across all disciplines. The application period for 2022 will be from March 23 to April 23. The chosen artists shall be announced by May 20.

Also returning to the art fair is “10 Days of Art,” a series of events around the Makati Central Business District in celebrating art. As in previous years, the public may visit art installations around Makati City.

This year’s three major public art exhibits will include an art installation by James Clar called I Can’t Tell You What I Don’t Know, Only That I Don’t Know at the plinth in front of the Ayala Museum; works by Juanito Torres and Norman Dreo, two solo exhibits titled Perspectives, will also be on view at the Greenbelt 5 Gallery. For schedules and updates, visit www.10daysofart.com.

DIGITAL MEETS PHYSICAL
New to the fair is an interactive augmented reality (AR) Art Trail at the Ayala Triangle Gardens, which uses the Daata AR app.

The AR Art Trail features Leeroy New’s artwork Aparisyon (Apparition), sculptures made from discarded plastic bottles; and visualized elements from author Eliza Victoria’s fantasy short story, Let Me Hold Your Hand.   

Forty-six exhibitors from the Philippines and abroad will showcase artworks in their respective galleries and through online viewing rooms at the fair’s website.

This year’s Philippine exhibitors include 1335Mabini, Altro Mondo Gallery, Art Cube Gallery, Art Elaan, Art For Space, Art Underground, Art Verite Gallery, Artery Art Space, Avellana Art Gallery, Boston Art Gallery, CANVAS, District Gallery, Eskinita Gallery, Galerie Roberto, Galerie Stephanie, Grounded Holistic Arts and Culture Studio, J Studio, Kaida Contemporary, León Gallery, Luzviminda, Modeka, MONO8 Gallery, Paseo Art Gallery, Pinaglabanan X, Qube Gallery, Salcedo Private View, Secret Fresh, Silverlens, Strange Fruit, The Crucible Gallery, Tin-aw, The Metro Gallery, White Walls Gallery, and Ysobel Art Gallery. 

Physical visits to the respective spaces of exhibitors can be planned with help from the fair website’s Gallery Hop section, which organizes galleries per location from Quezon City to Muntinlupa City.

This year’s art fair also goes beyond Metro Manila with the participation of art groups from the three main islands in the Regional Focus section. The exhibitors are: Ibagiw Art Fest x Gallery 2600 (Luzon), VIVA ExCon Dasun Bacolod x Orange Project (Visayas), Langgikit x Museo De Oro x Art Portal Gallery (Mindanao), and Lawig-diwa x Gallery Down South (Mindanao).

The six participating international galleries are: Art Agenda (Singapore/Jakarta), Gajah Gallery (Singapore/Yogyakarta), Mayoral (Paris/Barcelona), Yavuz Gallery (Singapore/Sydney), Gallery Kogure (Tokyo), and YOD Gallery (Osaka). NFT galleries A/terhen and Cyber Baat will also present exhibitions.

The exhibits by this year’s participants will be viewed at the Art Fair’s official website. Art Fair Philippines guests can also join the virtual gallery walkthrough scheduled on March 23 and 24.

WHAT’S ONLINE?
The ArtFairPH/Talks returns online this year with discussions presented in partnership with the Ateneo Art Gallery, Museum Foundation of the Philippines, and the Embassy of Spain.

This year’s ArtFairPH/Talks will include a series of discussions with Paco Barragán, an independent curator and arts writer based in Madrid, about art collecting and advice for artists. A discussion on the special photo exhibit Tattoos, Ternos and Couture, A Celebration of Philippine Fashion Photography will feature curators Messrs. Oshima, Michael Salientes, Mark Nicdao, and Gio Panlilio.

There will also be a panel discussion on NFTs — the main focus of the fair’s 2020 edition.

“The NFT talks were one of our best attended events last year,” said Art Fair Philippines co-founder Trickie Lopa.  “We were lucky because we discussed it and we put it out at the right time. It’s part of the art conversation now that there’s a very strong crypto art community here.”

Art Fair Philippines 2022 also continues to develop ArtFairPH/Open Studios. For this edition, Art Fair Philippines has collaborated with J Studio and ceramicist Pablo Capati to showcase a three-part series of pottery demos entitled Conversations on Clay with Jezzel Wee, Marco Rosario, Ella Mendoza, Krista Nogueras, Jon Pettyjohn, and Joey de Castro.

Other activities include virtual art tours. In the lineup for ArtFairPH/Tours is Baguio Artists Studio Visits: Part 2, a continuation of last year’s video documentation of visits to artists’ studios by Nona Garcia, Abbie Lara and Kawayan de Guia. Meanwhile, visual artists Plet Bolipata and Elmer Borlongan will take fair visitors on a virtual tour of their new studio called the Bolipata and Borlongan Talyer Video Tour.

“Grappling with whether we can move or not outdoors was one of the things that we had to contend with,” Ms. Araneta said. “Organizing for an online event also has its share of challenges. I think we worked with a good team. We subjected the site to several tests to make sure that everything will go well.”

Visiting hours are from 10 a.m. to 10 p.m. For more information on this year’s program and schedule of activities, visit the Art Fair Philippines website www.artfairphilippines.com and follow Art Fair Philippines on Instagram (@artfairph) and Facebook (www.facebook.com/artfairph). — Michelle Anne P. Soliman

Slow recovery seen for consumer goods industry

THE country’s fast moving consumer goods (FMCG) industry is projected to have a slow return to pre-pandemic levels, according to data and consulting company Kantar.

Kantar said in a statement on Tuesday that the country’s FMCG industry declined 4% year on year during the first nine months of 2021.

“Total beverages only saw a 1% growth, while dairy experienced a -11% growth in year-to-date September 2021 compared to the same period the year before. Moreover, breakfast categories like total coffee, coffee creamer, cereal and oatmeal further declined in the last two years since the pandemic started,” Kantar said.

“Filipinos instead turned to easier or more convenient ways of cooking via bouillons, instant noodles, cooking oil, seasonings and sauces. Healthier beverages such as cultured milk, family and adult milk, and energy drinks also showed stable growth locally,” it added.

According to Lourdes Deocareza-Lozano, Kantar Philippines Worldpanel Division new business director, local FMCG companies should consider the changes to consumer behavior following the coronavirus disease 2019 (COVID-19) pandemic in order to boost the industry.

“Our data reveal that major markets around the world are slowly showing signs of pre-pandemic times. While restrictions are being lifted in many countries, including the Philippines, FMCG companies, including our small and medium enterprises, must pay attention to behaviors that consumers have developed since the pandemic and capitalize on these in order to sustain the momentum,” Ms. Lozano said.

In comparison, Kantar said FMCG growth slowed to 0.8% in countries such as the United Kingdom, France, Spain, mainland China, Indonesia, Brazil, and Mexico from January to September last year.

“Globally, food categories under breakfast and lunch benefit most from the shift to a work-from-home setup, especially during the first nine months of 2021. Beverages (2.5%) and dairy (1.8%) such as milk, flavored milk, coffee, ready-to-drink tea, juices and carbonated soft drinks saw steady growth across the seven major markets covered by Kantar’s recent study,” it said.

“In addition, the return of face-to-face socializing in other parts of the globe may be having a positive impact on the health and beauty category with a 1.8% increase in consumer spend. This covers makeup, sun protection, and fragrances,” it added.

Meanwhile, Kantar said 1.8 million Filipino homes purchased in-home FMCG items online at least once last year.

It added that products usually bought via online channels include bar bath soap, shampoo, laundry powder, lotion, baby diaper, and frozen or chilled meat.

“During the height of quarantine restrictions, the Philippines shared the same upward trend for e-commerce activity as the other countries. From September 2019 to September 2021, the total online FMCG penetration increased from 5% to 7.2%. This was even higher in the National Capital Region (7.8% to 9.9%), North Luzon (5.6% to 8.5%), and South Luzon (6% to 9.4%),” Kantar said.

However, Ms. Lozano said e-commerce still plays a small part in the overall growth of the local FMCG industry, adding that there is still room for growth.

“E-commerce is here but there’s still room to increase its share of the FMCG market in the country. Companies that are able to optimize traditional, modern and online space to retain customers and attract new ones can help drive the sector’s growth back to pre-pandemic numbers,” Ms. Lozano said. — Revin Mikhael D. Ochave

Expect risk of COVID-19 reinfection, experts say

PHILIPPINE STAR/ MICHAEL VARCAS

By Brontë H. Lacsamana, Reporter

LOCKDOWNS have been lifted and the number of coronavirus disease 2019 (COVID-19) infections have tallied below 1,000 cases daily for the past few days, giving hope that the worst is over.

Still, experts warned that Filipinos should expect the risk of mild COVID-19 reinfection.

“A repeat case of COVID means a person was infected, then recovered, then became infected again. The difference between the first and second infection should be at least 90 days or 3 months apart,” said Regina P. Berba, head of infection control at the Philippine General Hospital, at a webinar on March 4.

This definition of reinfection is based on the US Centers for Disease Control’s (CDC) official description last updated in January.

Of the 3,058 healthcare workers in PGH who were infected in the two-year span of the pandemic, 285 or 9.3% were reinfected, reported Dr. Berba. All the reinfections were mild or asymptomatic, she added.

“Fully vaccinated individuals and also those who have been previously infected have developed a good, robust immune response to reduce risk of reinfection, but of course this is not 100%,” she said, citing studies by the CDC.

With the high possibility of a new variant causing another surge in the future, recovered individuals may experience reinfection, as was the case with every wave of COVID-19 that the Philippines had since 2020.

“Reinfections happened a lot because of the evolution of variants,” she said. “Variants allowed the viruses to have increased transmissibility, and the mutations that happened allowed these viruses to evade the current immune system of the host.”

Dr. Berba reiterated that people must continue to wear masks and observe minimum health standards. Vaccination efforts, too, must continue despite the recent downward curve of infection.

ANOTHER SURGE?
On Sunday, OCTA research fellow Fredegusto P. David told ABS-CBN Teleradyo that another surge might occur in April or May since the country usually has a resurgence of cases every three months, with the most recent one in January caused by the Omicron variant.

Several factors can bring about a surge, including a new variant, large campaign period gatherings, complacency in following health rules, and waning immunity, he said.

Meanwhile, the Department of Health, on March 7, shifted to weekly COVID-19 bulletins from daily case tallies, attracting criticism.

In a tweet, Antonio C. Leachon, a doctor and former special adviser to the country’s pandemic task force said: “Weekly reporting is quite a long wait for the government and the people to react particularly on Alert Level 1 and campaign mode which could trigger surges due to mobility.”

TnT Tropang Giga gun for safe passage to quarterfinals today

THE REIGNING Philippine Cup champions TnT Tropang Giga — PBA IMAGES

By Olmin Leyba

RECHARGED after a relatively long five-day breather in the PBA Governors’ Cup, TnT guns for a safe passage to the quarterfinals today against also-ran Terrafirma in the penultimate day of eliminations at the Smart Araneta Coliseum.

Despite early struggles and a lung-busting schedule due to Gilas Pilipinas duties, the Tropang Giga (5-4) have put themselves in good position to not just advance to the next round but also to vie for the coveted playoffs incentives.

The reigning Philippine Cup champs can bring this drive for one of the top four slots to completion with victories over the Dyip (2-8) and their final elims opponent, resurgent NorthPort (5-5), on Friday.

Coach Chot Reyes and his streaking charges, however, aren’t looking past the 3 p.m. encounter with the Dyip, are out of it all but remain motivated to end their campaign with a bang.

“We’re not thinking of that (chance for a twice-to-beat). Our entire focus now is preparing for our game tomorrow (today),” said Mr. Reyes.

The Tropang Giga amped up their playoffs bid with back-to-back conquests of San Miguel Beer (96-81) and Barangay Ginebra (119-92) to cap a draining four-game slate prior to Gilas’ stint in the FIBA World Cup Asian Qualifiers in late February.

TnT resumed its PBA campaign last March 4 and made it three in a row at the expense of Blackwater (106-93).

Mr. Reyes noted that the Tropang Giga didn’t play “a full 48-minute game at the level we wanted” in their return match. And they need to get this done against a Terrafirma side that has shown it is capable of upsetting the favorites, if only it could muster the needed finishing kick.

Terrafirma Dyip mentor John Cardel, whose wards held sizable leads against Alaska, Ginebra and NorthPort before fading in the end.

Meanwhile, top meets bottom as Magnolia (9-1) and Blackwater (0-10) face off at 6 p.m. in a game that may be inconsequential to their standings but has everything to do with pride.

Aside from building momentum for the Last-8, the No. 1-seeded Hotshots want to avoid the ignominy of being the team the Bossing beat to end their league-worst 29-game losing streak.

Not just plain prints

BENEDICTO “BenCab” Cabrera’s Isadora, 22.5 x 30.3 cm etching

PRINTS are mirror images of inked or painted designs transferred to paper, cloth, or wood. The same design can be produced in limited editions and so a work marked “20/30” means that it is the twentieth print from an edition of 30 prints of the same image.

Conrad Manila’s first “Of Art and Wine” exhibit this year features the Association of Pinoyprintmakers (AP)’s 20/30: A Limited Print Portfolio at the hotel’s Gallery C.

20/30 is the second commemorative print folio project of the Cultural Center of the Philippines in partnership with the AP. Their first folio project was produced in 2014 titled 25@45, in celebration of CCP’s 45th anniversary.

The AP formerly known as the Printmakers Association of the Philippines (PAP) was established in 1969. The group was a regular partner under the CCP Visual Arts and Museum Division. The CCP provided PAP with a printmaking studio at the back of the Folk Arts Theater in 1997 which the AP uses to this day. The CCP and AP continue their partnerships through regular programs such as annual exhibitions, demos at the CCP Pasinaya Festival, and workshops.

20/30: A Limited Edition Print Portfolio is a collection of 40 fine prints using traditional printmaking techniques by noted printmakers.

The Print Folio comes in two sets: Folio I with editions of 20 featuring prints by 15 artists, and Folio II with editions of 30 featuring prints by 25 artists.

The artists featured in this portfolio are or were affiliated with AP.

In Folio I contains etchings by National Artist for Visual Arts Benedicto “BenCab” Cabrera, Alfredo Juan Aquilizan, Virgilio Aviado, Ofelia Gelvezón-Téqui, and Jess Flores; woodcut prints by Elmer Borlongan; prints combined with etching and aquatint by Benjamin Torrado Cabrera, Imelda Cajipe Endaya, and Raul Isidro; mezzotint and engravings by Fil Delacruz; rubbercuts by the late Neil Doloricon, and Manuel Ocampo; a serigraph print by Rodolfo Samonte; a special restrike of a woodcut work by the late Rod Paras Perez dated 1963; and an etching by Juvenal Sansó from a restrike of a plate dated 1962.

In Folio 2 are woodcut prints by Ambie Abaño; rubbercuts by Leonard Aguinaldo, Suchin Teoh, Hershey Malinis, and Jonathan Olazo; serigraph prints by Mars Bugaoan, Salvador Ching, Noel EL Farol, Jun-Jun Sta. Ana, and Wesley Valenzuela; collographs by Kristen Cain; embossed method prints by Christina Quisumbing Ramilo, etchings by the late Rhoda Recto, Joey Cobcobo, Janos Delacruz, Eugene Jarque, and Henrielle Pagkaliwangan; prints combined with etching and aquatint by Anton Villaruel, Yas Doctor, Vilia Jefremovas, Angelo Magno, and Caroline Ongpin; detailed drypoint prints by Renan Ortiz and Radel Paredes; and sugarlift process on top of etching and aquatint by Lenore RS Lim.

At the exhibition opening, former AP president and 2015 National Artist nominee Filimon “Fil” Delacruz said that technical know-how of the reverse process makes the craft different from other mediums.

“What gets me excited about the process is that you work in reverse,” Mr. Delacruz told members of the press at the launch on March 1.

“Unlike when you do a painting, there is simultaneous gratification because you can see as you go along. [In printmaking], you cannot see the result until you go to press and print it. Sometimes it’s very rewarding. Sometimes it’s frustrating because it does not come out the way you want it,” he said.

For the folio project, Mr. Delacruz created a mezzotint etching of his signature “diwata” (fairy) image titled, Sulyap.

With the hotel’s regular art exhibitions, exhibition curator Nestor O. Jardin said that their goal is to encourage people to invest in artworks.

“Prints are more affordable than oil or acrylic [paintings]. The younger collectors or young people who are beginning to afford or appreciate acquiring art usually start with acquiring prints. Then, they subsequently graduate to other media,” Mr. Jardin said.

“It’s nice that they put it in their homes, but there are some buyers who buy to invest [in it],” he said.

The prints are for sale as Folio I at P420,000 and Folio II at P240,000.

Of Art and Wine: 20/30 at Conrad Manila’s Gallery C runs until April 2. The exhibit opening is presented in partnership with the Philippine Wine Merchants. For more information, call (632) 8833 9999 or e-mail conradmanila@conradhotels.com. To view the full art catalog, visit: https://bit.ly/OAAW2030Catalog. — Michelle Anne P. Soliman

Scientists identify new gene differences in patients who suffered severe COVID-19

Image via NIAID / CC BY 2.0

SCIENTISTS have pinpointed 16 new genetic variants in people who developed severe coronavirus disease 2019 (COVID-19) in a large study published on Monday that could help researchers develop treatments for very sick patients.

The results suggest that people with severe COVID have genes that predispose them to one of two problems: failure to limit the ability of the virus to make copies of itself, or excessive inflammation and blood clotting.

The scientists said their discoveries, published in the journal Nature, could help prioritize the likely treatments that could work against the disease.

Eventually, the information could even help predict which patients were likely to become severely ill.

“It is potentially possible in future that we will be able to make predictions about patients based on their genome at the point of presenting (for) critical care,” said Kenneth Baillie, consultant in critical care medicine at the University of Edinburgh and one of the study authors, told reporters.

The genetic analysis of nearly 56,000 samples from people in Britain showed differences in 23 genes in COVID-19 patients who became critically ill, when compared with the DNA of other groups included in the study, including 16 differences that had not been previously identified.

The new findings could help guide scientists in their search for existing drugs that might be useful for treating COVID-19.

For example, the researchers found changes in key genes that regulate the level of factor VIII, a protein involved in forming blood clots.

“Blood clotting is one of the main reasons why patients with COVID develop a shortage of oxygen. So that’s potentially targetable to prevent those clots from forming,” Mr. Baillie said.

But “we can’t know if these medicines will work until we try them in people.”

One of the previously discovered genes, TYK2, is targeted by Eli Lilly’s arthritis drug baricitinib, now being studied as a treatment for COVID-19.

The drug was shown last week to cut the risk of death and hospitalization in COVID-19 patients by 13% in a trial. — Reuters

SEC revises corporate dissolution guidelines

THE Securities and Exchange Commission (SEC) released revised guidelines on corporate dissolution to further standardize procedures, according to a memorandum circular on Tuesday.

For voluntary dissolutions where no creditors are affected, or if a dissolution of a corporation does not prejudice the rights of any creditor having a claim against it, the dissolution will be initiated by filing a verified request with the Company Registration and Monitoring Department and or SEC Extension Office.

The filed request must include company details, the reason for dissolution, the form, manner and time when the notices were given, and names of stockholders and directors, among other requirements.

For verifications and certifications against forum shopping, the verified request for dissolution should contain an affidavit, which should include the allegations in the verified request.

Required supporting documents include notarized copies of the board resolution authorizing the dissolution, a publisher’s affidavit of publication of the notice of the meeting, the latest due general information sheet, audited financial statements, and the Bureau of Internal Revenue tax clearance certificate, among others.

The SEC said that no application for the dissolution of banks, banking and quasi-banking institutions, insurance and trust companies, pawnshops and other financial intermediaries will be approved by the commission unless accompanied by a favorable recommendation of the appropriate government agency. — Luisa Maria Jacinta C. Jocson

POC chief Abraham Tolentino questions non-inclusion of EJ Obiena in Hanoi SEAG

PHILIPPINE Olympic Committee (POC) President Abraham Tolentino will do everything in his power to have World No. 5 pole-vaulter Ernest John “EJ” Obiena see action in the Hanoi Southeast Asian Games (SEAG) set on May 12 to 23.

“Will try but it’s better if both,” said Mr. Tolentino referring to the Philippine Athletics Track and Field Association’s (PATAFA) endorsement.

The statement came after the congressman from Tagaytay questioned the non-inclusion of the Asian record-holder to the 53-member track and field team PATAFA submitted to represent the country in the biennial event.

Mr. Obiena is the hands down favorite to win the SEA Games mint for the second time as he owns the current Asian record of 5.93 meters he set in the Golden Roof Challenge in Innsbruck, Austria last year.

He also recently set the new national indoor mark of 5.91m in the Perche Elite Tour in Rouen, France.

“I can only shake my head, this is horrible,” said Mr. Tolentino. “Barring serious injury, EJ will win the gold medal even blindfolded in Hanoi.

“He’s not only the best in the SEA Games, but in the whole of Asia — not to forget that he’s No. 5 in the world,” he added.

The POC tasked the 39 national sports associations (NSAs) to submit their entries by numbers for the SEA Games on Monday, the deadline set by host Vietnam for the submission of entry by names.

“An NSA relentlessly sanctioning its No. 1 athlete — a guaranteed win and who knows a future world and Olympic champion — I just couldn’t find a logic,” said Mr. Tolentino.

Patafa has the second biggest number of entries with 53 athletes and 17 officials, second only to esports, which fielded in 54 entries.

Mr. Obiena being out of the list meant he will also have to skip the World Indoor Championships slated for March 18 to 20 in Belgrade, Serbia because the World Athletics’s deadline of registration for qualified athletes was last Monday. — Joey Villar

Important paintings, rare furniture go on the block

BENCAB, ‘Untitled (Woman with Bilao)’, 2002, Acrylic on Canvas

FOR its first auction in 2022, Salcedo Auctions presents Important Philippine Art & Furniture, including Tribal & Ethnographic Art scheduled on March 12 at 2 p.m. live at Salcedo’s NEX Tower sale room and online via salcedoauctions.com.

The items for auction range from the country’s old and modern master artists and artisans to established contemporary artists. A recurring theme in National Artist Benedicto “BenCab” R. Cabrera’s artistic career, the Larawan series captures on canvas the image of the turn of the century Filipinas against modernist backdrops, situating them in the present. An untitled work dubbed as Woman with Bilao is one of few examples from what is one of the artist’s most important bodies of work alongside his iconic Sabel editions.

Conferred the title of National Artist for Visual Arts in 2003, José Joya had an immense impact on the development of the Philippine post-war art scene. The 5-by-3-foot masterpiece Festival combines linear and geometric aspects, calculated levels of overlapping transparency, and impressions of intentional movement.

A rare aparador made by the talleres of Isabelo Tampinco is also one of the highlights of the sale.

Other artworks for sale include a 1930 oil on canvas by National Artist Fernando Amorsolo, as well as works by fellow National Artists Victorio Edades, Vicente Manansala, Cesar Legaspi, Arturo Luz, J. Elizalde Navarro, Ang Kiukok, Abdulmari Imao, Federico Aguilar Alcuaz, and Larry Alcala. Also included are works by modern masters Mauro Malang Santos, Romulo Olazo, Juvenal Sansó, Nena Saguil, FB Concepcion, Lee Aguinaldo, Pacita Abad and contemporary stalwarts Justin Nuyda, Ramon Orlina, Elmer Borlongan, and Ronald Ventura.

Among the antique furniture is an Ah Tay Ilustrado Matrimonial Bed from the estate of Magalang, Pampanga’s first doctor, the eminent legislator and former mayor Dr. Andres Luciano.

Other highlights include a Bulacan Tambol Aparador, with rich patina and extravagant scale that speaks of a pampered past in a privileged setting. It is joined by a selection showcasing indigenous and ethnographic arts such as a 19th century fine pair of Bu’luls, a Boaya warrior necklace, and an exquisite Tagakaolo costume.

The Important Philippine Art & Furniture, including Tribal & Ethnographic Art auction is co-presented by Exclusive Banking Partner HSBC Premier. The auction preview is ongoing till March 11, 9 a.m. to 5 p.m. at NEX Tower, 6786 Ayala Avenue. For inquiries, e-mail info@salcedoauctions.com or call 09175912191. Follow @salcedoauctions on Instagram and Facebook.

Campaign aims to reduce spread of blood cancer

PIXABAY

LYMPHOMA, the most common type of blood cancer, is difficult to spot early because it shares several symptoms with other diseases such as fever, chills, night sweats, unexplained weight loss, and fatigue. Its most telling sign is the painless swelling of lymph nodes — kulani in local parlance — in the neck, armpit, or groin.

“Stop Lymphoma, Stop Lymphoma,” an initiative led by biopharmaceutical firm Takeda Healthcare Philippines, Inc., aims to raise public awareness about the disease, which has two kinds: non-Hodgkin lymphoma, wherein white blood cells called lymphocytes grow out of control and form tumors throughout the body; and Hodgkin lymphoma, which makes up 20% of all lymphoma cases and is characterized by the presence of a lymphocyte called Reed-Sternberg cells.

Like any other cancer, survival rates for lymphoma drop when it is discovered in the advanced stages.

“Between 40-48% of those newly diagnosed with Hodgkin lymphoma present in the advanced stages, or stages 3 and 4,” said Dr. Jorge G. Ignacio, chairman of the Philippine General Hospital Cancer Institute.

In the Philippines, there were over 4,000 new patients diagnosed with lymphoma in 2020. While its incidence isn’t as alarming as other types of cancers, it is important, said Dr. Ignacio, “because Hodgkin’s lymphoma shows a bimodal age distribution and is seen in both younger and elderly patients.”

Hodgkin’s lymphoma ranks second to melanoma in terms of the premature mortality caused per death in cancers affecting both sexes. Younger patients require more aggressive treatment than their older counterparts.

“These young patients, who are supposed to be very active in society, are lost to Hodgkin’s lymphoma. The cost of productivity due to this cancer is tremendous,” Dr. Ignacio said at a Feb. 24 webinar organized by Takeda Philippines.

AWARENESS CAMPAIGN
As part of “Stop Lymphoma, Stop Lymphoma,” Takeda Philippines partnered with the Philippine Cancer Society to provide free testing to over 60 patients; webinars are also in the works with the Philippine College of Hematology and Transfusion Medicine, Philippine Society of Pathology, Philippine Society of Medical Oncology, Philippine Society of Hematology, and Blood Transfusion and Health Futures, Inc.

“By joining the ‘Spot Lymphoma, Stop Lymphoma’ initiative, we hope to make the general public more aware about lymphoma, the issues that patients face, and what they can do to help,” said Jheric P. Delos Angeles, co-founder of Lymphoma Philippines Foundation.

Mr. Delos Angeles founded LPF in 2016, after he was declared free of the disease. His initial symptoms were persistent back pain, night sweats, and a swollen lymph node in his left armpit. — Patricia B. Mirasol

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