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Team Philippines assured of support — Fernandez

PSC FB PAGE
PHILIPPINE chef de mission to the 2021 SEA Games Ramon Fernandez reiterated their commitment to Team Philippines in its preparation by the biennial sporting meet. — PSC FB PAGE

PREVAILING conditions with the pandemic have made Southeast Asian Games (SEA) preparations of Team Philippines difficult, but chef de mission (CDM) Ramon Fernandez assured Filipino athletes continued support in their push.

In the online Philippine Sportswriters Association Forum on Tuesday, Mr. Fernandez shared that work for the SEA Games later this year in Vietnam has been manifold challenging as they grapple with the “limitations” in various forms during these trying times.

“This is a very unique situation. We are encountering this (pandemic) for the first time. Right now, we are just rolling with the punches and working with what is presented to us, adjusting to the varying situations and changes,” said the Team Philippines official.

Mr. Fernandez, however, was quick to say that they are working nonstop in coming up with the best possible setup of preparation for the athletes to produce quality representation in the biennial sporting meet in Hanoi from Nov. 21 to Dec. 2.

The SEA Games CDM, also a commissioner of the Philippine Sports Commission (PSC), said they are continuously coordinating with the various stakeholders, including the national sports associations (NSAs) and the Philippine Olympic Committee.

Mr. Fernandez said the PSC has allotted P200 million for the national athletes’ training and participation of the SEA Games, an amount that may not be enough but something they are trying to work with.

Given such a situation, the PSC official said they have talked to the NSAs if they could do their own fund raising to augment the funding of the training of their respective athletes while also appealing to local government units to come on board and support national athletes in their preparation.

“Teamwork is really needed right now and we are in discussion to come together and come up with the formula to go about things,” Mr. Fernandez said.

He went on to say that LGUs will play a key role, particularly in hosting athletes and teams with stricter lockdown setups in effect, especially in the Greater Manila Area because of the recent surge of coronavirus cases.

Mr. Fernandez said that maybe more LGUs in the provinces could accommodate Team Philippines, mentioning the experience of the fencing, decathlon, archery, weightlifting, and kickboxing teams, among others, which are currently doing their “bubble” trainings in areas in the country with less active coronavirus cases.

Despite the challenges, Philippine Basketball Association legend and former national athlete Fernandez said they will forge ahead and rally behind the athletes.

“We just have to keep a possible outlook. The road is not going to be easy, but we just have to learn along the way and adjust. We believe in the abilities of the Filipino athletes to be ready despite the challenges. We will help them as much as we can,” he said. — Michael Angelo S. Murillo

Team Lakay’s Folayang now focuses on familiar foe Aoki

EDUARD Folayang (right) of the Philippines will face off with Japanese Shinya Aoki in ONE Championship for the third time.

By Michael Angelo S. Murillo, Senior Reporter

TEAM Lakay’s Eduard “Landslide” Folayang will take on Japanese legend Shinya “Tobikan Judan” Aoki for the third time in ONE Championship.

Originally set to fight different opponents this month, the two former lightweight champions found their paths meeting anew after “unlikely turn of events.”

Mr. Folayang (22-10) was to face off with Japanese veteran Yoshihiro “Sexyama” Akiyama but the latter had to pull out of the contest due to injury. Mr. Aoki (46-9), meanwhile, was to battle American Sage Northcutt, who was forced to withdraw after reportedly testing positive for coronavirus.

The Folayang-Aoki fight is now part of “ONE on TNT IV” set for April 29 (Manila time).

The contest incidentally will serve as a de facto rubber match after the two combatants split their previous two matches.

Baguio’s Folayang took the first back in 2016, knocking out then ONE lightweight champ Aoki in the third round to become the new champion.

The Japanese then exacted payback in 2019 when he submitted the Filipino by way of arm triangle choke in the opening round to reclaim the lightweight belt.

While surprised to be paired anew with Mr. Aoki, Mr. Folayang said they are now in the process of recalibrating their game plan at Team Lakay and working on his game.

“This will be a monumental test for me. It’s a sudden change of our preparation, but I’m a professional athlete, so I have to be prepared for anything, at any given time. I have to be ready to calibrate for what will be served for that perfect aim,” Mr. Folayang said in a release.

Adding, “I am not a pessimistic person, and I’m a warrior. Naturally, I’m not expecting to lose, but to get the big victory this time.”

“ONE on TNT IV” is headlined by the ONE light heavyweight world championship fight between champion “The Burmese Python” Aung La N Sang and challenger Vitaly Bigdash of Russia.

The event is the fourth and last installment of the “ONE on TNT” series, which is catered to North America apart from the promotion’s traditional audience. Matches in the series are being broadcast both digitally and on television on prime time in the United States.

SBP’s Panlilio highlights PBA’s role as a valuable partner

Al S. Panlilio
SAMAHANG Basketbol ng Pilipinas President Al S. Panlilio — SBP.PH

THE Samahang Basketbol ng Pilipinas (SBP) has been doing a steady job in pushing for the sport’s continued development in the country but admits much of its success should be credited as well to its many partners, one of which is the Philippine Basketball Association (PBA).

Speaking recently in time for the 46th anniversary of Asia’s first play-for-pay league, SBP President Al S. Panlilio underscored how the PBA has been a valuable partner to the national basketball federation.

The SBP official, who is also the board representative of the Meralco team in the PBA, shared that the league has been leader in more ways than one in the development of the sport, and is one of the groups the federation is turning to for inputs as it goes about effecting its programs and activities.

Mr. Panlilio, for one, spotlighted the breakthrough “bubble” that the league held last year to save what was left of the PBA’s pandemic-hit Season 45.

In the bubble, the league successfully holed up all the competing teams and other participants in Clark City in Angeles, Pampanga, for two months amid strict health and safety protocols, with the Barangay Ginebra San Miguel Kings emerging as Philippine Cup champions.

It is the same success that the SBP wants to have as it serves as host to the third and final window of the FIBA Asia Cup in June, Mr. Panlilio said.

Originally set to take place in February in Clark, SBP made the tough decision to cancel the event as quarantine restrictions in the country were raised at that time.

Doha, Qatar, stepped in as replacement host but it, too, had to call things off at the last minute because of coronavirus concerns.

FIBA opened the hosting anew to those who are willing and SBP grabbed on the opportunity and is now looking to do well to have the June 16-20 proceedings staged successfully.

In the bubble window in Clark, SBP will host Group A, where Gilas Pilipinas is bracketed, as well as matches in Groups B and C.

Apart from the Philippines, Group A has South Korea, Indonesia, and Thailand.

Chinese Taipei, Japan, Malaysia, and China comprise Group B and Australia, New Zealand, Guam, and Hong Kong make up Group C.

Mr. Panlilio shared to pba.ph that the PBA could well lend some of its staff for the window — an assistance the SBP appreciates. — Michael Angelo S. Murillo

Olympian Akiko Thomson graces PSC online national summit

THREE-TIME Olympian and eight-time Southeast Asian Games (SEA Games) gold medal-winning swimmer Akiko Thomson-Guevara will lead the discussion in the ninth session of the online Philippine Sports Commission (PSC) National Sports Summit 2021 on Wednesday.

Ms. Thomson-Guevara will talk about the topic “Role of Philippine Olympians in furthering Philippine Sports,” including efforts being done by the Philippine Olympians Association which she is part of.

The discussion, among other things, seeks to provide ideas on opportunities through sports for the Filipino youth as well as how to optimize the asset of the Filipino Olympian to play a meaningful role in the realm of Philippine sports.

“Her stellar career as part of the Miracle of 1991 and as an Olympian, and further using her platform as the head of their organization will truly inspire our participants in the pursuit of improving Philippine sports,” said PSC Chairman William Ramirez of Ms. Thomson-Guevara.

Following her stellar career as an athlete, Ms. Thomson-Guevara remained active in sports in various capacities, including as PSC commissioner from 2010 to 2016.

Originally set to take place last year until the coronavirus pandemic forced it to be deferred and reconfigured, the summit has taken the form of a series of weekly conference-type online sessions hosted by the PSC via Zoom.

The summit is aimed at taking insights of different sports stakeholders and using them as foundations in crafting a sustainable and workable short to long-term plan for Philippine sports.

The PSC said all data gathered from the web series will be processed and studied to create a new set of resolutions to be presented to sports leaders for action. — Michael Angelo S. Murillo

Masters champion

Considering how the betting lines went heading into the Masters, it’s clear that hardly any follower of the sport figured on Hideki Matsuyama putting on the Green Jacket when all would be said and done. In any given season, big money is wagered on golf’s premier event, and not even its second unfolding in the midst of a continuing pandemic did little to stunt speculation on the odds of the usual suspects. Even with all the punting, he attracted close to zero interest, in no small measure because of his spotty record in major championships.

At the Masters, though, Matsuyama hitherto proved that he could hang with the best of the best. True, nine previous appearances did yield one cut. On the other hand, he was likewise able to turn in fifth- and seventh-place finishes among his performances. If nothing else, his scores showed he knew Augusta National — or, at the very least, enough of it — to tame it under the right circumstances. Experience is the best teacher in the pride of Georgia, and his capacity to take in all that it imbibed and imparted enabled him to stay ready.

As things turned out, opportunity did come knocking for Matsuyama last week. After solid, if unspectacular, scores of 69 and 71 to start the tournament, he blitzed the field with a sterling 65 in the penultimate round. Moving Day had him, well, moving up while just about everybody else stayed put or tumbled out of contention. And while the annals of the Masters are littered with examples of would-be champions unable to deal with stress under pressure, he proved he had the right combination of skill and serenity to take the measure of both the course and his opponents.

Indeed, Matsuyama hit the mother lode. He became the first Japanese male golfer to claim a Grand Slam stop, further cementing his status as an icon in the Land of the Rising Sun. And the country needed the boost, to be sure; its hosting of the Olympic Games, already postponed a year due to the novel coronavirus, remains riddled with issues. Which was why, in the countless interviews since his victory, he has made sure to acknowledge his roots, and profess his desire to be a role model for other golfers in the country. As no less than Prime Minister Yoshihide Suga noted, “It was really wonderful. As the coronavirus drags on, his achievement moved our hearts and gave us courage.”

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and Human Resources management, corporate communications, and business development.

How Japan plans to release contaminated Fukushima water into the ocean

An aerial view shows the storage tanks for treated water at the tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan, Feb. 13, 2021, in this photo taken by Kyodo. Kyodo/via REUTERS

TOKYO – Japan plans to release into the sea more than a million tonnes of radioactive water from the destroyed Fukushima nuclear station, it said on Tuesday. Plant operator Tokyo Electric Power Company Holdings Inc (Tepco) will begun pumping out water in about two years after treatment in a process that will take decades to complete.

 

CONTAMINATED WATER

Tepco has been struggling with the build-up of contaminated water since bringing three reactors under control after a 2011 earthquake and tsunami knocked out electricity and cooling.

The company has been using a makeshift system of pumps and piping to inject water into damaged reactor vessels to keep melted uranium fuel rods cool.

The water is contaminated as it comes in contact with the fuel before leaking into damaged basements and tunnels, where it mixes with groundwater that flows through the site from hills above. The combination results in excess contaminated water that is pumped out and treated before being stored in huge tanks crowding the site.

Those tanks now hold about 1.3 million tonnes of radioactive water, enough for about 500 Olympic-sized swimming pools.

Efforts to tackle the problem have included building an “ice wall” around the damaged reactors and wells to draw groundwater away before it reaches the reactors. These measures have slowed, but not halted, the buildup of contaminated water.

Over the years, Tepco has also battled leaks, spills, malfunctioning equipment and safety breaches, hindering cleanup efforts expected to run for decades.

In 2018, Tepco admitted it had not filtered all dangerous materials out of the water, despite saying for years they had been removed.

 

WATER RELEASE

Tepco plans to filter the contaminated water again to remove isotopes, leaving only tritium, a radioactive isotope of hydrogen hard to separate from water. Tepco will then dilute the water until tritium levels fall below regulatory limits, before pumping it directly into the ocean from the coastal site.

Water containing tritium is routinely released from nuclear plants around the world and releasing the Fukushima water to the ocean is supported by regulatory authorities.

Tritium is considered to be relatively harmless because it does not emit enough energy to penetrate human skin. But when ingested it can raise cancer risks, a Scientific American article said in 2014.

The first water release is not expected for about two years, time Tepco will use to begin filtering the water, building infrastructure and acquiring regulatory approval.

Until then, the buildup of contaminated water will continue, with annual costs of water storage estimated at about 100 billion yen ($912.66 million).

Once begun, the water disposal will take decades to complete, with a rolling filtering and dilution process, alongside the planned decommissioning of the plant.

 

REACTION TO OCEAN RELEASE

Tepco is engaging with fishing communities and other stakeholders and is promoting agriculture, fishery and forest products in stores and restaurants to reduce any reputational harm to produce from the area.

However, environmental groups, including Greenpeace, say the government should build more tanks to hold the water outside the plant instead of choosing the cheaper option of ocean release. Many people have questioned Tepco’s plans because there is a high level of distrust of the company.

Fishing unions in Fukushima urged the government for years not to release the water, arguing it would undo work to restore the damaged reputation of their fisheries.

Last October, the head of Japan’s fisheries unions said releasing the water would have a “catastrophic impact” on the industry.

Neighbouring countries have also expressed concern. On, a foreign ministry spokesman in South Korea, which maintains restrictions on Japanese produce, said it “expresses serious concerns that the decision could bring a direct and indirect impact on the safety of our people and surrounding environment.”

Municipal councils in Busan and Ulsan, South Korean cities close to the sea, have called for the release plan to be scrapped.

In China, a foreign ministry spokesman in October urged Japan to act with a “high sense of responsibility towards its own people, neighbouring countries and the international community”.

To view a graphic of the methods to contain water leaks at the Fukushima site, please click on: http://reut.rs/1QGhFIl

World Bank, Gavi urge countries with excess COVID-19 vaccines to release them

WASHINGTON – World Bank President David Malpass and José Manuel Barroso, chair of the Gavi vaccine alliance, on Monday discussed the importance of countries with excess COVID-19 vaccine supplies releasing them as soon as possible, the World Bank said.

Malpass expressed his desire to work closely with Gavi on a 2022 strategy, including helping expand vaccine production capacity for developing countries, the bank said in a statement.

The two officials also discussed the need for more transparency by countries, suppliers and development partners on vaccine contracts, and regarding national export and supply commitments and requirements, the bank said.

“During their meeting, President Malpass and Mr. Barroso discussed challenges facing acquisition and deployment of COVID-19 vaccines by developing countries and the importance of countries with excess vaccine supplies releasing them as soon as possible,” it said.

Malpass has been outspoken about the need to accelerate vaccinations to contain the pandemic and limit further economic damage. Last week, he warned the slow rollout of vaccines in Europe could weigh on the region’s economic growth.

On Monday, the bank said it had committed $1.7 billion of $12 billion that it has made available for vaccine development, distribution and production in low- and middle-income countries, with around $4 billion expected to be approved by mid-year.

Malpass said those funds could be used to make co-payments to the COVAX vaccine distribution initiative, and to buy additional doses beyond the basic 20% population coverage.

With new variants of the virus emerging, public health officials have warned the world could lose the race between the coronavirus and the vaccines meant to stop it due to the slow pace of vaccinations in developing nations.

The World Health Organization is urging more political will to boost production of COVID-19 vaccines and share supplies, including through stalled intellectual property waivers on vaccines through the World Trade Organization. – Reuters

China’s exports rise at robust pace in March, imports growth highest in 4 years

BEIJING – China’s exports grew at a robust pace in March in yet another boost to the nation’s economic recovery as global demand picks up amid progress in worldwide COVID-19 vaccination, while import growth surged to the highest in four years.

The data suggests the world’s second largest economy will continue to gather momentum as it emerges from the COVID-19-led slump in early 2020, though a lagging consumer rebound and resurgence in COVID-19 cases in many countries have raised risks for the outlook.

Exports in dollar terms soared 30.6% in March from a year earlier, but at a slower pace from a record 154.9% growth in February. The analysts polled by Reuters have forecast a 35.5% jump in shipments.

“Strong foreign demand is likely to be sustained throughout the second quarter as the global economy further recovers,” said Nie Wen, analyst at Nie Wen, economist at Hwabao Trust.

“But with the acceleration in global vaccination efforts, industrial sectors in other countries are gradually restarting. It remains to be seen that if China’s stellar export growth will begin to slide.”

Despite sporadic COVID-19 cases in China’s border cities, authorities have been able to largely contain the virus in a boost to the lagging consumer recovery.

Beijing managed to largely bring the COVID-19 pandemic under control much earlier than many countries thanks to stringent anti-virus curbs and lockdowns at the initial phase of the outbreak last year.

The data showed total imports jumped 38.1% year-on-year last month, the fastest pace since February 2017 on high commodity prices, beating a 23.3% forecast and compared with 17.3% growth in February.

The nation imported 1.02 million tonnes of meat in March, the highest monthly volume since at least January 2020, while imports for soybeans iron ore, copper and crude oil also rose.

China posted a trade surplus of $13.8 billion last month, versus analysts expectations for the surplus to rise to $52.05 billion from $37.88 billion in February.

 

TRADE CHALLENGES

Official and private manufacturing surveys in China pointed to robust growth, with export orders returning to growth amid improving foreign demand.

However, many analysts believe exports could lose some momentum in the short term and the advantages of orders transferred from other countries due to coronavirus-related disruptions will begin to abate.

Liu Kuiwen, customs spokesman, said that overall trade growth in the second quarter could show the pace slowing due to a higher base comparison in the year-ago period when a jump in pent-up demand boosted the headline figures.

The resurgent COVID-19 infections abroad and constraints in global trade have left some companies grappling with prolonged delivery timeframes and surging prices of raw materials.

Makers of cars and electronic devices from televisions to smartphones are sounding alarm bells about a global shortage of chips, which is causing manufacturing delays as consumer demand bounces back from the coronavirus crisis.

Meng Xianglong, founder of Heji Trade & Credit Research Centre based in the port city of Ningbo, believes the recent surging commodity prices have already deterred some exporters from taking on orders, especially those small firms, in signs of the weaknesses to come for the next couple of months.

“Factories are now facing a squeeze in profits. Even though today’s data are robust, they’re suffering from pains in reality.”

China’s gross domestic product expanded 2.3% last year, the only major economy to post growth in 2020, underpinned by solid demand for goods such as medical and work-from-home equipment.

Still, the massive initial hit from the COVID-19 crisis meant China’s growth in 2020 was still its weakest in 44 years.

This year, China has set a modest growth target of at least 6%, as authorities plotted a careful course out of a year disrupted by COVID-19 and amid heightened tensions with the United States.

China’s trade surplus with the United States slipped to $21.37 billion in March from a $23.01 billion in February.

President Joe Biden said last month that the United States was not seeking confrontation with China over differences on trade.

Brazil, Philippines due to get Pfizer shots from COVAX in Q2 

GENEVA – Some 14.1 million doses of the Pfizer BioNTech COVID-19 vaccine have been allocated to 47 countries and economies for delivery in the second quarter of this year, the Gavi Vaccine Alliance said on Monday.

Brazil, Colombia, Mexico, the Philippines, South Africa, and Ukraine are set to be among the main recipients of the Pfizer vaccine between April and June, according to Gavi, which co-leads the COVAX facility with the World Health Organization (WHO) and other partners.

The COVAX programme offers a lifeline to low-income countries in particular, allowing them to inoculate health workers and others at high risk, even if their governments have not managed to secure vaccines from the manufacturers.

Australia, Britain, Kuwait, and the United Arab Emirates are due to receive their first shots via COVAX with the Pfizer doses, which is “based on current knowledge of COVID-19 vaccine supply availability”, Gavi said in a statement.

The programme delivered nearly 38.4 million doses of COVID-19 vaccines to 102 countries across six continents, six weeks after it began to roll out supplies, Gavi said last Thursday.

Deliveries of the AstraZeneca vaccine to 142 participants under a previously announced round were underway, “with some delays” that may extend deliveries past May, Gavi said on Monday.

Reduced availability delayed some deliveries in March and April, and much of the output of the Serum Institute of India, which makes the AstraZeneca vaccine, is being kept in India, where the number of daily infections is spiralling.

The chief executive of Gavi, Seth Berkley, said last Friday that COVAX aimed to deliver one third of a billion COVID-19 doses by mid-year, on the way to more than 2 billion in 2021. — Reuters

Duterte reappears in public, dismisses rumors of health problems

MANILA – Philippine President Rodrigo Duterte reappeared in public on Monday after an absence of nearly two weeks which had fuelled concerns about his health that the government insists are unfounded.

The Philippines is battling one of the worst coronavirus outbreaks in Asia, with hospitals in the capital Manila overwhelmed amid record daily infections, while authorities face delays in delivery of COVID-19 vaccines.

Duterte, who is 76 and has not yet been vaccinated against COVID-19, resumed his weekly televised address, during which he dismissed rumors that he was in declining health and that the government was trying to keep his condition under wraps.

“If you are saying that I have a sickness that would prevent me from exercising the powers of the presidency, there’s none,” he said, in response to the concerns.

Duterte last appeared on television on March 29. He cancelled his address scheduled on April 7 to minimise his exposure as there had been an increase in active cases of COVID-19 among his staff, including some of his security detail.

To prove Duterte was well, his closest aide, Christopher “Bong” Go, a senator, posted images on social media of the president playing golf, riding a motorcycle and jogging in the presidential palace over the weekend.

“The reason I can swing (a golf club) and ride the motorcycle is because I still can,” said Duterte, whose known ailments include back problems, migraines due to nerve damage after a motorcycle accident, Barrett’s oesophagus, which impacts his throat, and Buerger’s disease, caused by his heavy smoking.

His government is facing renewed criticism over its handling of the pandemic after a surge in COVID-19 infections that forced authorities to reimpose stricter curbs in the region of Manila and in nearby provinces for two weeks. The restrictions will be eased from April 12.

The Philippines has recorded more than 876,000 COVID-19 cases and over 15,000 deaths since the start of the pandemic.

Duterte said he was willing to give his own vaccination slot to someone who needed it more.

“If anyone wants to have it, they can have it,” Duterte said. — Reuters

MultiSys, APPEND launch financial app to benefit 8.5 million microfinance members

Leading software solutions company Multisys Technologies Corporation and microfinance group APPEND launch AppendPay, an online system, and mobile application that will ease business processes and create seamless transactions for APPEND’s 8.5 million participating microfinance members.

AppendPay aims to expedite the process of approving and disbursing microfinancing of its members. Apart from providing them with a convenient and secure environment for their microfinancing and money transactions, the system will also encourage transparency within the organization and lessen human error.

“Apart from advancing technology to better service our members, AppendPay will help underserved sectors in the country through the promotion of electronic service inclusion. This will also provide additional livelihood opportunities in remote areas, and offer alternative and secure credit services,” said APPEND Board Chair Angel L. De Leon, Jr. “We commend MultiSys for their speed in expediting AppendPay. For that, they truly have become an important asset to our entire microfinance community.”

The launch of this mobile app strengthens MultiSys’ thrust to empower micro and small businesses with the right tools, innovative services, and reliable systems to implement advanced software solutions. Furthermore, it provides APPEND with a system that will automate and manage its membership acquisition process, as well as an eCommerce platform where members can buy and sell products, remit money, and sell online tickets.

“The current restrictions and fast-paced growth of micro and small enterprises in the country have created an opportunity for the technology industry to address their emerging need for more efficient and secure operations through advanced digital solutions,” MultiSys founder and CEO David Almirol said. “Through this collaboration with APPEND, we acknowledge every Filipino’s right to digital convenience and further our mission to make technology accessible to everyone.”

MultiSys continues to advance the digital transformation and sustainability of the microfinance industry, as well as businesses, government institutions, and communities, through its cutting-edge systems solutions and technologies.

LT Group, Inc. announces schedule of stockholders’ meeting

NOTICE OF ANNUAL SHAREHOLDERS’ MEETING

To All Shareholders:

Please be informed that the Annual Stockholders’ Meeting of LT GROUP, INC. will be conducted through remote communication on 05 May 2021 at 10:00 am via the video conferencing application, Zoom. 

The Agenda for the said Meeting shall be as follows:

  1. Call to Order
  2. Secretary’s Proof of Notice of Meeting/Certification of Quorum
  3. Approval of the Minutes of the 2020 Annual Stockholders’ Meeting held on 30 June 2020
  4. Management Report
  5. Ratification of All Acts, Transactions, and Resolutions by the Board of Directors and Management in 2020
  6. Election of Directors
  7. Amendment of the By-Laws of the Corporation  
  8. Appointment of External Auditor
  9. Adjournment

Only stockholders of record and in good standing as of the close of business hours on 12 March 2021 will be entitled to notice of, and to vote at, the meeting.

Procedures for registration and participation in the Meeting, as well as the contact details of persons to whom you may send your inquiries, are set forth in the Guidelines attached to this Notice. Registration will run until 26 April 2021. The meeting ID and password will be sent through electronic mail to the successful registrants. Stockholders are encouraged to log-in at least two (2) hours before the Meeting.

For your convenience, a copy of the Information Statement, Management Report, and Audited Financial Statements will be available for viewing and download at the company website (https://ltg.com.ph/) under the Disclosures tab and at the PSE Edge (https://edge.pse.com.ph/companyDisclosures/form.do?cmpy_id=12).

All shareholders are cordially invited to attend the Meeting.  However, if you are unable to attend, you may designate your authorized representative by submitting a scanned copy of your proxy form to ltgasm@ltg.com.ph not later than 29 April 2021. All proxies received will be validated on 30 April 2021.

Lastly, a visual and audio recording of the Meeting will be secured in accordance with the requirements of the Securities and Exchange Commission.

08 April 2021.

 

 

 

LT GROUP, INC. 

(GUIDELINES FOR ANNUAL STOCKHOLDERS’ MEETING 2021)

As provided in the Notice to Stockholders, the Company’s Annual Stockholders’ Meeting shall be conducted via remote communication through the video conferencing application, Zoom. Stockholders are invited to register by sending the following requirements to ltgasm@ltg.com.ph no later than 26 April 2021.

REGISTRATION 

a. For Individual Stockholders 

  • A scanned copy of the front and back portions of the Stockholder’s valid government-issued photo ID* with residential address. This must be in a digital, JPG format with a file size no larger than 2MB. 
  • Valid and active e-mail address
  • Valid and active contact number (landline or mobile number)
  • Tax Identification Number (TIN)

b. For Stockholders with Joint accounts 

  • In addition to the requirements for Individual Stockholders, a scanned copy of the authorization letter signed by all Stockholders owning the share/s jointly providing who among them is authorized to cast the vote for the account. The authorization letter must be in a digital, JPG format with a file size no larger than 2MB. 

c. For Corporate Stockholders 

  • Scanned copy of a Secretary’s Certificate attesting to the authority of the representative to vote for and on behalf of the Corporation. This must be in a digital, JPG format with a file size no larger than 2MB.
  • Scanned copy of the front and back portions of the valid government-issued photo ID* of the Stockholder’s representative with residential address. This must be in a digital, JPG format with a file size no larger than 2MB. 
  • Valid and active email address of the Stockholder’s representative
  • Valid and active contact number of the Stockholder’s representative (landline or mobile number)
  • Tax Identification Number (TIN)

d. For Individual Stockholders represented by a Proxy or authorized person

  • In addition to the requirements for Individual Stockholders in Item (a), the same requirements shall be submitted by the Proxy or authorized person.  
  • Scanned copy of the notarized Proxy Form or an authorization letter signed by the Stockholder to cast the vote for the account. This must also be in a digital, JPG format with a file size no larger than 2MB. 

e. For Stockholders under Broker accounts 

  • Scanned copy of the broker’s certification, signed by the duly authorized signatory/ies, on the Stockholder’s number of shareholdings. This must also be in a digital, JPG format with a file size no larger than 2MB. 
  • Scanned copy of the front and back portions of the Stockholder’s valid government-issued photo ID* with residential address. This must be in a digital, JPG format with a file size no larger than 2MB. 
  • Valid and active email address
  • Valid and active contact number (landline or mobile number)

REMINDERS

  • All successfully registered Stockholders will receive an electronic invitation via electronic mail containing the meeting ID, password and the rules and procedures for the meeting.
  • On the date of the Meeting, Stockholders are encouraged to log-in at least two (2) hours before the Meeting to allow the Company to address possible technical issues without delaying the Meeting. 
  • Only Stockholders who have notified the Company of his/her/its intention to participate in the Meeting by remote communication, have registered therewith, or sent in their proxies, will be included in the determination of the existence of a quorum.

VOTING 

Stockholders may cast their votes by accomplishing the proxy form and submitting a scanned copy thereof to ltgasm@ltg.com.ph on or before April 29, 2021. Validation of the proxies shall be held on April 30, 2021.  

Please take note that the Company is not asking for or soliciting proxies. 

QUESTIONS

Inquiries and/or comments limited to the items in the Agenda of the Meeting may be sent to ltgasm@ltg.com.ph on or before April 27, 2021.

Inquiries and/or comments received after the deadline shall be referred to the Company’s Investor Relations Officer for the appropriate response.