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MVP Group supports OdettePH affected areas through Gabay sa Pagbangon concert

The Manuel V. Pangilinan (MVP) Group of Companies continues to augment its support for the communities affected by Typhoon Odette amid the holiday season. Beyond the initiatives that its companies mobilized throughout the past week, the group organized “Gabay sa Pagbangon,” an online concert for the benefit of the calamity-stricken areas in Visayas and Mindanao, streaming live on Dec. 29.

Spearheaded by Metro Pacific Investments Foundation (MPIF), PLDT-Smart Foundation (PSF), and the Philippine Disaster Resilience Foundation (PDRF), and with the support of the ASEAN Center for Biodiversity (ACB), Gabay sa Pagbangon brought together a premiere roster of local talents, performing for the purpose of generating more aid and assistance for the affected communities.

The proceeds will augment the funds and appropriations raised by the group to mobilize manpower assistance, food, water, shelter materials, and mercy missions of around P80 million to date.

Singing for Hope

Hosted by Pops Fernandez and with the special participation of Derek Ramsey, Iza Calzado, and Dominic Roque, the performance lineup included Sharon Cuneta, Gary Valenciano, Maestro Ryan Cayabyab, Regine Velasquez-Alcasid, Martin Nievera, Ogie Alcasid, Basil Valdez, Kuh Ledesma, Jose Mari Chan, Erik Santos, Christian Bautista, Jed Madela, Ben&Ben, Vina Morales, Jona, Klarisse, Jason Dy, and The Company. These artists have selflessly dedicated their talent and time with only the fulfillment of helping in return — most of whom have supported Gabay Guro for over 15 years in their own personal capacity.

Streamed free via the Gabay Advocacies, Gabay Guro, and DepEd Facebook pages, the Gabay sa Pagbangon Concert is the group’s secondary effort towards drumming up more financial and in-kind help. In line with Gabay Komunidad and the Tuloy Pa Rin Ang Pasko movement, the concert’s entertainment value falls second to its two main objectives: to reach a wider audience with the aim of receiving more donations; and to be a source of hope, love, and holiday cheer for all amid the difficult situation.

“You cannot have donor fatigue during times like this, because they just need help,” said Chairman Manny V Pangilinan in an interview. “Whatever we can do — from the smallest to the biggest of help that we can render will be greatly appreciated by our people.”

Part of the proceeds from the online concert will be utilized for the purchase of necessities, primarily clean drinking water, ready-to-eat or shelf-stable meals, and building materials for reconstructing damaged shelters.

MPIF President Melody M. Del Rosario enjoins all who are able to share what they can — be it time, resources, or even links on social media. “Now more than ever, the spirit of bayanihan sees us through the darkest of moments — and that is what we at the MVP Group wish to uplift for our affected kababayans. What we think are small, insignificant contributions will amass into an expansive impact that changes the lives of those in need.”

Instrumental to the online concert are musical director Eloisa Matias, Sernne Dominica, and other production volunteers — all Gabay Guro supporters who have helped with several of the group’s initiatives.

MPIC President & CEO Jose Ma. K. Lim expressed his thanks to those who have made the event possible. “We will only be able to rise above any devastation if we help one another. We are thankful for everyone who made this collaboration happen, as this initiative is in line with our purpose of uplifting the lives of Filipinos.”

Reaching Out for Purpose

In collaboration with the Department of Education (DepEd), a significant amount of the proceeds was earmarked for the benefit of affected teachers and learners in the ravaged areas. For several years, the group has helped many disaster-stricken areas to normalize their situation, developing efforts that aim to uplift the level of resilience in these communities.

Through Gabay Guro, the MVP Group’s flagship advocacy program, classrooms were built to withstand more than 250kph winds as part of the group’s sustainability and climate resilience initiatives. Schools built in Leyte, Bohol, Capiz after Typhoon Yolanda and the big earthquake survived the wrath of Odette.

The benefit concert also intends to help the Gabay Guro teachers in Visayas and Mindanao ensure that no learner is left behind.

Calling Out for Healing

Beyond providing relief support, the concert aimed to reiterate the importance of climate change awareness and spark urgency towards climate action, environmental responsibility, and the development of sustainable initiatives with respect to climate resilience. Odette serves as a devastating reminder that the time to act is now.

Super-typhoons such as these are a stark example of what the country and the rest of the world will continue to experience if the continuous neglect for the environment persists. Through Gabay Kalikasan, the group aims to become catalysts for a cleaner, greener, and more resilient planet for every Filipino. With the support of ACB, the Gabay sa Pagbangon benefit concert is only one of the MVP Group’s trumpeting initiatives to reach out to more Filipinos and encourage positive change.

“Our group has always been at the forefront of environmental protection because we believe that it is our collective responsibility to heed the call for climate action and take care of our environment and natural ecosystems in light of our importance to our planet’s health,” said MPIC Chief Finance, Risk and Sustainability Officer Chaye A. Cabal-Revilla. “This is why, for years now, we have been actively pursuing environmental protection programs such as reforestation, urban biodiversity, mangroves preservation, marine protection, and wetlands conservation.”

In line with the MVP Gabay Advocacies for a Sustainable Philippines, Gabay Komunidad focuses on building a more resilient and disaster-prepared country. Guided by this advocacy, the entire group is taking significant strides towards providing as much assistance to the victims as possible, as soon as possible.

 

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Hong Kong police raid pro-democracy Stand News outlet, arrest six

HONG KONG – Hundreds of Hong Kong national security police raided the office of online pro–democracy media outlet Stand News on Wednesday and arrested six people, including senior staff, for suspected “seditious publications” offences.

Stand News, set up in 2014 as a non-profit, is the most prominent remaining pro–democracy publication in Hong Kong after a national security probe earlier this year led to the closure of jailed tycoon Jimmy Lai’s iconic Apple Daily tabloid.

The raid further raises concerns about media freedoms in the former British colony, which returned to Chinese rule in 1997 with the promise a wide range of individual rights would be protected.

Police said in a statement it had a warrant authorising it “to search and seize relevant journalistic materials”.

“Over 200 uniformed and plain clothes police officers have been deployed,” the statement said.

Separately, police said they had arrested three men and three women, aged 34 to 73, without naming them, for “conspiracy to publish seditious publications”.

Ronson Chan, Stand News deputy assignment editor and the head of the Hong Kong Journalists Association (HKJA), was not among those arrested, but said police confiscated his computer, iPhone, iPad, press pass and banking records during an early morning search of his residence.

“Stand News has always reported news professionally,” he added. Other senior staff could not be reached for comment.

The Stand News office in an industrial building in the Kwun Tong working class district was partially sealed off, with scores of police milling about the lobby and four vans parked downstairs.

Officers were seen loading about three dozen boxes of documents and other materials seized as evidence onto a truck.

Steven Butler, Asia programme coordinator for the Committee to Protect Journalists, said the police actions were an “open assault on Hong Kong’s already tattered press freedom”.

The government’s Security Bureau did not immediately respond to a request for comment. Authorities have repeatedly said all prosecutions are based on evidence and had nothing to do with the profession of the people arrested.

 

‘SEDITIOUS’

Sedition is not among the offences listed under the sweeping national security law imposed by Beijing on the city in June 2020 that punishes terrorism, collusion with foreign forces, subversion and secession with possible life imprisonment.

But recent court judgements have freed authorities to use powers conferred by the new legislation to deploy previously sparsely used colonial era laws, including the Crime Ordinance which covers sedition.

Authorities say the security law has restored order after often-violent pro–democracy unrest in 2019. Critics say the legislation is a tool to quash dissent and has set the global financial hub on an authoritarian path.

“When a free press … is labelled ‘seditious’, it is a symbol of the speed at which this once great open international city has descended into little more than a police state,” Benedict Rogers, chief executive of rights group Hong Kong Watch, said in a statement.

In June, hundreds of police raided the premises of Apple Daily, arresting executives for alleged “collusion with a foreign country”. The newspaper subsequently shut down after police froze its assets.

On Tuesday, prosecutors filed an additional “seditious publications” charge against Lai and six other former Apple Daily staff.

Police had not disclosed which Apple Daily or Stand News articles they considered seditious.

 

‘SPEECH CRIMES’

The Stand News charter states that it shall be independent, autonomous and committed to safeguarding Hong Kong‘s core values of “democracy, human rights, rule of law and justice”.

After the Apple Daily raid, Stand News said it would stop accepting donations from readers and had taken down commentaries from the platform to protect supporters, authors and editorial staff, adding that “speech crimes” had come to Hong Kong.

The June announcement said senior barrister and former democratic legislator Margaret Ng, pop singer Denise Ho and four others resigned from its board, with two founding directors, Tony Tsoi and former chief editor Chung Pui-kuen, remaining.

Local media said the six people arrested on Wednesday included Ng, Ho, Chung, acting chief editor Patrick Lam and former board members Chow Tat-chi and Christine Fang.

HKJA said in a statement it was “deeply concerned that the police have repeatedly arrested senior members of the media and searched the offices of news organizations containing large quantities of journalistic materials”. – Reuters

Ayala Land delivers water supplies, relief goods to Odette-stricken Cebu communities

Ayala Land delivers a truckload of water daily to barangays Apas and Luz in Cebu.

To aid in the severe Cebu water shortage following Typhoon Odette’s aftermath, Ayala Land, Inc. (ALI) has been donating truckloads of water every day to barangays in urgent need.

The initiative is part of the company’s Alagang AyalaLand (AAL) program, and targets Cebu communities who are still cut off from the Metropolitan Cebu Water District (MCWD) supply. Ayala Land has been assisting barangays Apas and Luz, and began first deliveries to Luz on Dec. 25 and to Apas on Dec. 28. The group aims to continue these efforts until the end of the year or until the areas’ regular water supply resumes.

As the delivery of these urgent supplies are under way, Ayala Land is simultaneously providing support to MCWD facilities connected to Cebu Business Park to expedite the reboot of the area’s water supply. A deepwell in Cebu I.T. Park is also currently servicing a portion of barangay Apas.

Along with aid on water supply, Alagang AyalaLand provided relief packs to Barangay Luz on Christmas day, with more communities targeted for goods distribution. Moreover, Ayala Center Cebu and Ayala Malls Central Bloc have reopened essential stores like groceries, banks, hardware stores, and pharmacies, along with allocating charging stations within the malls.

Alagang AyalaLand’s relief pack distributions have been under way and are on track to be completed before the end of the year. A total of 2,800 packs are being distributed to barangays Apas, Lahug, Mabolo, Luz, Kamputhaw, Hippodromo, and Carreta. This is in addition to relief goods that were distributed at the onset of the typhoon to Cagayan De Oro and Negros Occidental communities. To widen the reach of its relief efforts, Ayala Land is also part of Brigadang Ayala which has been working to extend assistance to other areas that were hit by Typhoon Odette the hardest.

“Many communities in Visayas and Mindanao have been struggling since the typhoon hit and essential services were disrupted, so our immediate goal is to harness available resources from our developments and mobilize our teams to address the most important needs of our neighboring communities,” said Ayala Malls President Christopher Maglanoc.

Typhoon Odette made landfall in Cebu province on Dec. 16, bringing winds of over 200 kph. According to the National Disaster Risk Reduction and Management Council (NDRRMC) report as of Dec. 29, the aftermath left at least 56,000 individuals displaced and 42,000 houses damaged in Central Visayas alone. With power and communication lines heavily damaged and access routes impeded, residents of the area have been in dire need of essentials.

In the face of natural calamities, Alagang AyalaLand is dedicated to aiding affected Filipinos through ALI-wide disaster relief operations. The community engagement program also aims to uplift communities through livelihood generation and socially-conscious sustainability efforts.

 

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Trash for rice: Bali recycling scheme gives families pandemic lifeline

STOCK PHOTO - Pixabay.com

GIANYAR, Indonesia – For Balinese souvenir shop owner I Kadek Rai Nama Rupat, the past two years during the COVID-19 pandemic have been a fight for survival.

The pandemic has prevented the foreign tourists that usually throng businesses like his on the Indonesian resort island from coming and rising food prices have compounded the economic pain.

But a local non-profit group is offering help by exchanging rice for plastic trash that is then sold to a recycling company.

“Every piece of plastic waste is very valuable for the villagers today and for our economy,” said Rupat, who exchanged about four kg (9.5 pounds) of plastic for one kg of rice.

Rice costs about 15,000-20,000 rupiah ($1.05-1.40) per kg and locals estimate a family of four consumes about two kg per day of the staple, so the trade-in is worth the effort.

The Bali Plastic Exchange was founded in May last year by I Made Janur Yasa, who like many Balinese saw his main business running a vegan restaurant hit hard by the pandemic.

The 55-year-old said the driving force behind his project was a desire to feed communities in his home province in Bali and to improve the environment.

Indonesia is the world’s second biggest contributor of plastic pollutants in the oceans, according to a 2019 study published in the journal Science.

There’s no limit on how much plastic waste a person can bring in, though organizers encourage people to collect trash from their own neighborhoods.

After spreading via word of mouth, the initiative had helped support about 40,000 families in 200 villages, while recycling nearly 600 tons (544 tonnes) of plastic waste, said Yasa.

“This programme has been very well received by community members,” said Yasa, who hopes to expand it to other provinces in Indonesia. – Reuters

France reports record high of 179,807 new coronavirus cases in one day

PARIS – France reported a record high of 179,807 new confirmed coronavirus cases in a 24-hour period on Tuesday, one of the highest one–day tallies worldwide since the start of the pandemic.

It is the highest number of new daily infections in Europe, according to data on Covidtracker.fr. Since the start of the pandemic, only the United States and India have reported average daily new cases above 200,000. On Monday, the United States reported more than 505,000 new COVID-19 cases.

Britain on Tuesday reported a record 129,471 new cases of COVID-19, but the data did not include figures for Scotland and Northern Ireland due to differences in reporting practices over the Christmas holiday period.

France‘s previous record of 104,611 was set on Saturday, after the 86,852 high of Nov. 11, 2020, was broken with two consecutive days of more than 90,000 new cases per day at the end of last week.

The seven-day moving average of new cases in France – which smoothes out daily reporting irregularities – rose to a new all-time high of 87,500. On Sunday and Monday, the health ministry reported only about 30,000 new cases per day.

On Monday, the government announced new measures nL1N2TC0ZT to curb infections, including limits on the size of big gatherings, a ban on eating and drinking in transport systems and the mandatory wearing of masks again outdoors.

Despite the jump in new cases, the number of patients in hospital with COVID-19 remained well below record levels, with COVID-19 patients in intensive care up by 83 to 3,416 on Tuesday, well below the highs of more than 7,000 in early April 2020.

France also announced 290 new Covid deaths, taking the total over 123,000, the highest one–day toll since early May but well below death tallies seen late last year.

About 77% of the population is now fully vaccinated, which has sharply reduced the number of hospitalizations and deaths.

The Covid incidence rate – the number of new cases per week per 100,000 citizens – rose to over 900, the highest since the start of the epidemic and nearly twice the levels seen during the third wave in November 2020. – Reuters

UK’s daily COVID infections hit record high of 129,471

LONDON – Britain reported a record 129,471 new cases of COVID-19 on Tuesday, a day after Prime Minister Boris Johnson said he would not bring in new restrictions this year to limit the spread of the highly transmissible Omicron variant of the virus.

Johnson said on Monday he would not introduce new restrictions in England, but his ministers have urged people to celebrate the New Year cautiously and warned that the rules could be tightened if the health system was at risk of failure.

The British government manages lockdown restrictions for England, home to most of the UK population. Devolved authorities for Wales, Scotland and Northern Ireland have already tightened their rules, as have other European countries facing a surge in Omicron cases.

The previous British record high of daily infections was 122,186 on Dec. 24.

Tuesday’s data did not include figures for Scotland and Northern Ireland due to differences in reporting practices over the Christmas holidays. The 12,378 cases reported for Wales included data that would normally have been reported in previous days.

British ministers are waiting for more evidence on how the health service is able to cope with high infection rates after early data suggested last week that the Omicron variant carried a lower risk of hospital admission.

The latest data showed the number of patients in hospital in England with COVID-19 was 9,546, up from 6,902 a week ago, but well below record levels above 34,000 seen in January.

Britain’s high vaccination rates, the time lag between infections and hospitalisations, and the potentially less harmful effects of the Omicron variant have all been put forward by health experts as factors behind the lower hospital numbers.

The government said on Tuesday there had been 18 new deaths within 28 days of a positive COVID-19 test – well below the recent trend of more than 100 per day. – Reuters

Mining revival expected as ban lifted

A port is pictured as trucks and a backhoe load rocks and soil containing nickel-ore minerals into a barge in the mining town of Sta Cruz, Zambales, Feb. 8, 2017. — REUTERS

THE PHILIPPINE government’s lifting of a four-year-old ban on open pit mining will revive the mining industry and potentially help drive the economy’s recovery from the pandemic, according to the head of the Mines and Geosciences Bureau (MGB).

However, an advocacy group warned the resumption of mining activities may lead to further environmental damage.

The Department of Environment and Natural Resources (DENR) issued on Dec. 23 the Department Administrative Order (DAO) 2021-40, which lifts the nationwide ban on the open pit method of mining for copper, gold, silver and complex ores. The order was published in a newspaper on Dec. 25 and will take effect after 15 days.

This repealed the order issued by the late DENR Secretary Regina L. Lopez, a known anti-mining advocate, in 2017.

“We had pushed for its approval because the MGB initiated the memo to the Office of the President, offering the mining sector as a potential contributor to the recovery of the economy ravaged by the pandemic,” MGB Director Wilfredo G. Moncano said in a text message.

The Philippine economy contracted by a record 9.6% in 2020 due to the coronavirus pandemic. The mining sector accounted for P102.3 billion, equivalent to 0.6% of gross domestic product (GDP) growth in 2020.

In April this year, President Rodrigo R. Duterte signed Executive Order No. 130 that lifted the nine-year moratorium on new mineral agreements.

The DENR is hoping to revive the mining industry through the lifting of the ban on open pit mining. It said the move will help create much-needed jobs and provide raw materials for the development of other industries.

Open pit mining is a globally accepted method, DENR said. It is defined as “the process of mining any near-surface deposit by means of a surface pit excavated using one or more horizontal benches.”

“There are best practice control strategies and technologies that can help avoid or manage the negative impact of open pit mining,” the department said, adding that major issues concerning mining can be attributed to accidents, not the method itself.

The DENR said mining tenement holders should ensure that using the open pit mining method will not pose hazards to public health and do not release hazardous chemicals into the environment. The mining firms should prevent acid rock drainage and other heavy metals that may contaminate land and water bodies, as well as reduce the use of freshwater resources.

“We welcome the decision to lift the ban on open pit mining,” Chamber of Mines of the Philippines (CoMP) Vice-President for Communications Rocky G. Dimaculangan said in a text message.

“As most mining applications propose the use of the open pit method, this decision will enable the industry to contribute more to our country’s economic recovery, particularly from the devastating effects of this ongoing pandemic through investment promotion, job creation, and poverty alleviation.”

Mr. Dimaculangan said thousands of mines, including those in Australia, Canada and the United States, allow open pit mining. He noted open pit mines can be operated safely and rehabilitated properly.

Meanwhile, Alyansa Tigil Mina in a statement criticized the Duterte administration for allowing open pit mining to resume, saying it is “short-sighted” and shows its “misplaced development priority.”

Reuters said the Philippines’ annual export revenue from its mineral extraction industry could increase by up to $2 billion over the next five to six years as new mining projects take off, citing the government.

The Southeast Asian country is China’s biggest supplier of nickel ore and also has substantial copper and gold reserves.

More than a third of the Philippines’ total land area of 30 million hectares (74.1 million acres) has been identified as having “high mineral potential,” but only less than 5% of its mineral reserves has been extracted so far, according to the MGB.

Philex Mining Corp. is one of the Philippine units of Hong Kong-based First Pacific, the others being Metro Pacific Investments Corp. and PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Luisa Maria Jacinta C. Jocson with Reuters

Global remittances likely to sustain rebound

REUTERS

REMITTANCES sent home by migrants are expected to continue to rebound in 2022, as economies recover from the pandemic, the Asian Development Bank said.

In a report titled “Labor Mobility and Remittances in Asia and the Pacific (APAC) during and after the coronavirus disease 2019 (COVID-19) pandemic,” the ADB said remittance inflows to the region are expected to make up 63.4% of the growth in global remittances for this year and in 2022. 

The ADB estimates that global remittances will rise by 4.8% or $34 billion this year, and by 4.2% or $31 billion in 2022. For the APAC region, remittance inflows will jump by 6.7% or $21.2 billion this year, and increase by 5.9% or $19.8 billion in 2022.

The higher remittance growth estimate for 2021 reflects the base effect and “migrant workers’ desire to remit and possibly make up for foregone remittances in 2020,” the ADB said. 

“Most advanced economies, which are the primary sources for remittances, have already recovered more strongly from COVID-19 than migrant-sending economies that are still affected severely by the ongoing COVID-19 resurgence due to the Delta variant. In turn, this wider economic divergence could provide a stronger stimulus for remittance inflows from advanced economies to developing economies,” the ADB said.

The slower growth in remittance inflows in 2022 may indicate the improvement of the global economy as base effects face.

For Southeast Asia, remittances are estimated to grow by 4% or $3 billion in 2021, and at a faster pace of 5.9% or by $4.6 billion next year.

“The estimated robust recovery of remittances in the near term can be largely linked with the expected higher remittance receipts coming from migrants in more advanced economies such as the United Kingdom (UK), the US, the European Union (EU), and the Middle East,” the ADB said.

The ADB said remittance growth in APAC could even outpace projected economic growth rates in Asia during the same period.

“These results reflect the higher COVID-19-related risks in the region — higher COVID-19 cases and lower vaccination rates — which trigger a stronger altruistic response among migrant communities abroad,” it said.

The Philippine central bank expects cash remittances to grow by 6% this year and by 4% in 2022.    

Despite the improvement in remittance inflows, the ADB said migrant workers still require assistance as many destination countries continue to have strict immigration and health protocols.

“It will likely take time before borders reopen fully to foreign workers, even if domestic outbreaks in many host economies are contained. Effective policy support and incentives to help the migrant and remittance sectors recover can make a significant difference,” the ADB said.

The ADB said both home and destination economies should ensure social protection for migrants and their families through employment-related support, health services, and social assistance.

“Some recipient households remain at risk of falling into poverty, which calls for sustaining support especially for those with little access to employment such as older persons, single parents, and persons with disabilities,” the ADB said.

The multilateral lender also stressed that access to COVID-19 vaccines must be guaranteed for migrants.

Cash remittances sent by overseas Filipino workers provide a boost to household consumption, which makes up 70% of the Philippine economy. — L.W.T. Noble

LGU spending inefficiency won’t drag growth — analyst

PHILIPPINE STAR/ MICHAEL VARCAS

By Jenina P. Ibañez, Senior Reporter

SPENDING inefficiencies by local government units (LGUs) will not likely deter economic growth as a greater bulk of the budget remains with the National Government, an analyst said.

“While spending may indeed be inefficient for some local government units who have low technical and absorptive capacity, it is incorrect to entirely attribute slowdown in economic growth to inefficient spending of LGUs,” Institute for Leadership, Empowerment, and Democracy (I-LEAD) Executive Director Zy-za Nadine Suzara said.

The Department of Finance (DoF) last month said the Supreme Court’s Mandanas ruling that expands local governments’ share in national taxes starting next year would lead to lower economic growth.

The DoF said the higher tax allocation for local government units would dampen spending efficiency — which measures the share of funds that create jobs or stimulate demand to total spending — because the National Government usually spends at double the pace.

But Ms. Suzara said that funds allocated for the Mandanas ruling represent just a fifth of the national budget.

“A large part remains with the National Government. Thus, if government spending is to make an impact on economic growth, it would still depend largely on the National Government, not the LGUs,” she said in a Viber message.

Factors that could dampen the contribution of government spending on economic growth include the ban on project implementation until after the elections next year, and limited spending from major agencies because of the pandemic, she said.

A public works ban will run from March 25 to May 8, 2022, and covers disbursement and spending as well as construction activity. This is aimed at preventing politicians from using state resources for their election campaign.

The emergence of more coronavirus disease 2019 (COVID-19) variants could also affect national and local government spending in the future.

In response, Ms. Suzara said National Government agencies need to spend their unused funds before the election ban and speed up their devolution transition plans to assist local governments.

“For LGUs, capacity development in areas like local fiscal policy and planning, investment programming, procurement and project implementation is critical,” she said.

Philippine Institute for Development Studies (PIDS) Research Fellow Charlotte Justine Diokno-Sicat said local governments must improve their use of funds by strengthening investment programs — such as local water service delivery — and spend on them.

Municipalities in 2017 just spent an average of 76% of their local development funds.

“We estimated the infrastructure gaps for municipalities to be P170 billion for roads, rural health units and evacuation centers existing in 2017,” she said in an e-mail.

Government institutions also have to avoid overlap as they devolve the provision of services to constituents, including oversight and regulation, she added.

The Supreme Court’s Mandanas ruling is named after Batangas Governor Hermilando I. Mandanas who successfully challenged the government’s previous position that LGUs were entitled to a smaller share of National Government funds.

President Rodrigo R. Duterte in June signed Executive Order (EO) 138 which transfers a number of basic services to LGUs by 2024. With this, the government is shifting programs and projects, worth an estimated P234.4 billion, to LGUs.

World Bank estimates found that tax allotments to LGUs could grow by 55% to 1.08 trillion next year.

Funds that the LGUs fail to spend could increase by P155 billion next year, or the equivalent of 0.7% of gross domestic product, if their capability to enforce projects are not upgraded, the World Bank said in June.

LGU COLLECTIONS
Meanwhile, local government collections dipped in the third quarter as provinces, cities, and municipalities rely on their share of national taxes to fund operations and projects, the DoF said.

Collections from locally sourced revenue fell by 0.33% to P208.98 billion in the third quarter versus the same period last year, the department said in a press release on Tuesday.

However, local government collections are up by 23.41% versus the second quarter.

End-September collections account for 92% of the full-year collection target of P223.9 billion.

The total current operating income of LGUs reached P648.7 billion in the third quarter, up by 0.38%.

Locally sourced revenues make up 32% of that total, or P208.98 billion. Meanwhile, internal revenue allotment — or LGU share of national revenue — represents 64% of the total at P414.5 billion.

“In aggregate terms, LGUs’ dependence on external sources (e.g. internal revenue allotment, other transfers from the National Government) in the third quarter of 2021 reached 68%, which is 0.72% or P3.14 billion higher than the third quarter 2020 levels,” Bureau of Local Government Finance Executive Director Niño Raymond Alvina said.

High-end residential market to remain resilient in 2022 

By Keren Concepcion G. Valmonte,  Reporter

THE UPSCALE and luxury residential property markets are expected to remain resilient in the coming year, property services firms said.

Demand for homes outside Metro Manila will also likely remain strong as the government continues to ramp up infrastructure projects and many companies maintain work-from-home arrangements amid the pandemic.

KMC Savills, Inc. Co-Founder and Managing Partner Michael McCullough is expecting a slow recovery for the property industry next year. Residential sales may continue to be affected by the country’s coronavirus disease 2019 (COVID-19) situation, and developments in the office sector.

“We anticipate the uneven performance of the residential market to continue and recover in tandem with the office sector,” JLL Philippines Head of Research and Consulting Janlo C. de los Reyes said in an e-mail on Dec. 7.

Meanwhile, Santos Knight Frank Residential Services Associate Director Marievie D. Gimena-Villanueva said the movements “will mainly rely on the intensity of quarantine protocols in the coming months.”   

“Mid-income and upscale residential units will continue to dictate launches and take-up of condominium units in Metro Manila,” Colliers Philippines Associate Director Joey Roi H. Bondoc told BusinessWorld in an e-mail on Dec. 6.   

KMC Savills’ Mr. McCullough said demand for luxury condominium units will “remain stable” next year as high net-worth individuals renovate units in the major central business districts (CBDs) on expectations of higher returns.   

“The mid (market) segment will start to return, but may lag behind the upper segments,” Mr. McCullough said in an e-mail on Dec. 15.   

Overall demand for the mid-market segment may be a tad weaker due to tighter disposable incomes and lower spending appetite on big-ticket items,” JLL Philippines’ Mr. De los Reyes said.

However, the mid-market segment is expected to respond with flexible payment terms and promotions to attract buyers.

“This will drive the general residential market as property buyers will capitalize on relatively lower price points and attractive payment terms,” Santos Knight Frank’s Ms. Gimena-Villanueva said.

Activity from the mid-market segment will be driven by the improving remittances from overseas Filipino workers.

Cash remittances in the first 10 months of the year reached $25.929 billion, rising by 5.3% from a year ago, data from the central bank showed.

Figaro cuts budget for stores, omits acquisitions in IPO plan

FIGARO COFFEE FACEBOOK PAGE

FIGARO Coffee Group, Inc. omitted plans to use a portion of net proceeds for potential acquisitions and decreased the budget for store launches and renovations, following the downsizing of its initial public offering (IPO) to P767.39 million.

Figaro is the holding firm of food brands such as Angel’s Pizza, Figaro Coffee, Tien Ma’s Taiwanese Cuisine, TFG Express, and Café Portofino.

According to the company’s prospectus dated Dec. 22, Figaro has maintained plans to use IPO proceeds for store openings and renovations, commissary expansion, debt repayment, and information technology infrastructure.

However, the company no longer included provisions for potential acquisitions. It previously planned to allocate P600 million of net proceeds to add food businesses to its portfolio in the next three years.

Figaro trimmed its IPO size by 57% to P767.39 million from P1.77 billion last week.

The company will now be offering to the public 930.166 million primary common shares for 75 centavos apiece, along with an overallotment option of up to 93.016 million primary common shares.

Without the overallotment option, Figaro plans to use 33% of the net proceeds for store openings and renovations. The company will now be using just P219.4 million of net proceeds for the stores, down from the previous target of P501.5 million.

The company aims to have 150 system-wide stores by end-2022 and over 300 system-wide stores in the country by the end of 2029.

Through IPO proceeds and internally generated cash, the company is eyeing to open 35 Angel’s Pizza outlets, 18 TFG Express kiosks, six Figaro Coffee shops, and two Tien Ma’s Taiwanese Cuisine restaurants within the next three years.

“We will prioritize the use of proceeds towards the stores opening in 2022,” Figaro said. The company plans to expand via 12 Angel’s Pizza outlets, six TFG Express kiosks, and three Figaro Coffee shops next year.

The company is also planning to roll out its store renovations in 2022. Renovations include “the improvements of the premises” of company-owned stores, upgrading generation sets, additional manpower, among others.

“For any shortfall in the Offer proceeds allocated for this purpose, we shall use internally generated cash flows to complement our plans for store openings and renovations,” Figaro said.

However, should the overallotment option be exercised, Figaro’s budget for store openings and renovations may bump up to P286.9 million from P219.4 million.

The company said the additional funds raised will be used for store launches planned for 2023 to 2024, which includes nine more Angel’s Pizza stores.

Meanwhile, Figaro plans to use P350.30 million of the IPO net proceeds to fund its commissary expansion, P80 million to repay debt, and P5 million for investments in information technology (IT) infrastructure.

The company plans to conduct its offer period for Jan. 10 to 14 next year, while its listing at the main board of the Philippine Stock Exchange is tentatively set to Jan. 24 under ticker symbol “FCG.”

Figaro mandated Abacus Capital & Investment Corp., China Bank Capital Corp., and PNB Capital and Investment Corp. as joint issue managers, joint lead underwriters, and joint bookrunners for the transaction. — Keren Concepcion G. Valmonte

Pace yourself during year-end crunch, says career coach

UNSPLASH

REQUIREMENTS that punctuate schedules at the end of the year can mean ringing in 2022 with additional stress. This, however, can be managed, said Caroline Ceniza-Levine, a career coach and founder of DreamCareerClub.com, a resource site on career and professional development.  

“Year-end is a natural inflection point, so managers who didn’t plan ahead may find themselves pushing to meet objectives that they should have been focused on all year,” she told BusinessWorld in an e-mail. 

Deadlines can be paced throughout the year, she advised, so work can ebb and flow between busy periods and periods of rest. Managers can also offer support during the year-end holidays by minimizing e-mails, and bringing in extra pairs of hands so team members can take the time off.  

A raft of studies released this year show that people are tired and running on empty. Leaders can help employees avoid burnout at work by taking breaks themselves. 

“Leaders should model that … you will not be judged by how late you stay or how early you come in, but rather by the results you produce,” said Ms. Ceniza-Levine. 

Modeling this approach — plus penalizing managers who overwork their staff — is the only way burnout solutions will have real teeth to them, she added. 

Burnout is classified by the World Health Organization (WHO) as a syndrome resulting from unmanaged workplace stress. This occupational phenomenon is characterized by three dimensions, as per WHO: feelings of energy depletion; increased mental distance from one’s job, or feelings of negativism related to it; and reduced professional efficacy.   

It has less to do with expectations for hard work and high performance — and more to do with how someone is managed.  

FEELING THE SYMPTOMS
An April survey by McKinsey & Company, a management consulting firm, found that almost half of those surveyed (49%) feel the symptoms of burnout. The New York-headquartered firm added that this number might be an underestimate, as employees who experience burnout are less likely to respond to survey requests.   

A March survey by global job portal Indeed, meanwhile, found that more than two-thirds (67%) believe the pandemic has worsened employee burnout. It also found that more than half (53%) of work-from-home employees work more hours at home than in the office.   

In its survey, Indeed advised employers to re-evaluate office perks, such as schedule flexibility.  

“People may quit. People may get sick. Morale will diminish,” Ms. Ceniza-Levine said. “Burnout has measurable consequences to work quality, customer satisfaction and employee engagement — and therefore the company bottom line.”  

BusinessWorld previously reported that 76% of Philippine employers plan to adjust their benefit programs in response to workplace changes caused by the pandemic, balancing the need for wellness programs to support workers against their cost, according to advisory firm Willis Towers Watson. 

REST
Individuals can avoid burnout by taking breaks — throughout the day as well as over the course of the year — pacing their workload, and getting their manager and team to support them.  

“Getting some rest is the best solution, so the question becomes how can you do that?” asked Ms. Ceniza-Levine.  

Unplugging is one way. “Technology is helpful, but it can affect our well-being. It should improve life, not the opposite,” said Bernadette Nacario, country director of Google Philippines, citing the e-Conomy SEA 2020 report that showed Filipinos spent 5.2 hours a day on the internet at the height of quarantine last year — the highest across Southeast Asia. 

Cleveland Clinic also suggested attaching work efforts to personal values. “Notice how your work makes something in the world, the culture, or in other people’s lives better,” the medical nonprofit said in a post. — Patricia B. Mirasol 

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