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Ayala unit plans to launch up to 1,000-MW projects this year

THE holding company for Ayala Corp.’s energy and infrastructure businesses plans to launch projects with a capacity of up to 1,000 megawatts (MW) this year, the parent firm said.

The projects are in line with the goal of Ayala Corp. unit AC Energy and Infrastructure Corp. (ACEIC) to become the largest listed renewables platform in Southeast Asia, it added.

In a regulatory filing on Wednesday, it said out of ACEIC’s planned projects, “500 MW of aggregate capacity will be installed in the Philippines and the remaining 500 MW will be built in Vietnam, Australia, and India over next one to two years.”

“ACEIC also plans to complement its renewable energy portfolio and support its capacity with peaking plants and new energy storage technologies,” Ayala Corp. said in its annual report.

It said ACEIC plans to continue expanding its ancillary business and commercial operations to maximize its power portfolio in the Philippines.

ACEIC holds majority interest in publicly listed AC Energy Corp. (ACEN), which aspires to become the largest listed renewables platform in the region with its target net attributable capacity of 5,000 MW by 2025.

As of March 8, ACEN’s power assets in the Philippines had a net attributable capacity of 966 MW, with almost half or 46% coming from renewable sources.

Last month, ACEIC inked a deal to transfer its shares in Mindanao’s biggest coal-fired power plant project to its partner, Power Partners Ltd. Co. and certain affiliate companies. The transaction is aligned with the ACEIC’s effort to rebalance its portfolio and to achieve its renewables capacity target in four years’ time.

On Wednesday, shares in Ayala Corp. increased by 1.79% or P13.50 to finish at P769 apiece. ACEN shares improved by 1.37% or 10 centavos to close at P7.39 each. — Angelica Y. Yang

Gained pandemic pounds? Here are five ways to lose them

THE ONGOING pandemic and its ensuing stay-at-home mandate may have made it more difficult for some to keep a healthy weight — and for a good reason. Maintaining a healthy weight can be challenging, but it can be extra difficult if you’re facing a global health crisis that changed the way you live in a snap of a finger.

If you’ve gained weight during the pandemic, you’re not alone. It’s a worldwide phenomenon. In a study by the Pennington Biomedical Research Center that surveyed close to 8,000 people from 50 different countries and every state in the United States from April to early May 2020, around 27% said they gained weight during the initial lockdown — that’s 10% more than those who said they lost weight.

“Gaining weight is one of the expected impacts of the pandemic,” says Gia Wassmer, MD, Head of the Weight Wellness Center of Makati Medical Center (MakatiMed). “The anxieties and depression caused by the contagious COVID-19, joblessness, and the uncertainties of the times and the loneliness from being away from loved ones can make people focus less on following a healthier lifestyle. Stress eating, losing sleep, having limited access to healthy food, and spending more time inactive can also contribute to weight gain.”

With quarantine measures gradually easing again, getting back to a healthier weight isn’t just possible — it should be a priority. “Being overweight and obese increase your risk of severe illness from COVID-19,” Dr. Wassmer pointed out. “Obesity is linked to impaired immune function and it decreases lung capacity and can make ventilation more difficult. As the body mass index (BMI) increases, so too does the risk of death from COVID-19 and developing chronic illnesses in the future.”

She says that better weight management begins with taking proactive steps. Here are five ways:

Create structure. Instead of letting the day slip by, discipline yourself to wake up, eat, exercise, and sleep at specific hours, says Dr. Wassmer. “This will curb your tendency to sit or lie around indefinitely as well as eat whenever you like,” she adds.

Make healthy choices. “Include whole grains, fruits, vegetables, and lean protein in your meals, and do practice portion control,” says Dr. Wassmer. “Also, ditch the sugary-sweet sodas or milk tea for water, and avoid drinking coffee four to six hours before bedtime since the caffeine may disrupt your sleep.”

Get moving. Dr. Wassmer reminds that an exercise routine doesn’t require fancy equipment or the latest gadgets. Do crunches for your abs and push-ups for your arms and chest. Walk up and down the stairs of your house. Follow aerobic classes on YouTube — or just spring-clean your closet. “There are countless ways to incorporate some form of activity into your day,” she says. “You just have to be creative.” But those who have never exercised before or are coming back from a long lay-off, especially because of some health concerns, should first consult their doctor.

Manage your stress. If the uncertainty of the pandemic is triggering you to stress-eat, deal with your fears by reaching out to friends, writing down your thoughts in a journal, meditating, or praying. “Expressing your anxiety, whether through the written or spoken word, somehow eases the burden you carry in your mind,” Dr. Wassmer points out. “It also allows you to hear or read your thoughts, so you know whether your fears are rational or unfounded.”

Don’t be so hard on yourself. Stop beating yourself up for gaining weight during the pandemic. Instead, aim for small yet doable goals — not overly ambitious ones, lest you want to add to your anxiety. “Crash diets and strenuous exercises are knee-jerk reactions to weight management,” says Dr. Wassmer. “Losing one to two pounds a week is a reasonable — healthy and sustainable — way to do so.”

For more information on losing weight safely, contact MakatiMed On-Call at 8888-8999, e-mail mmc@makatimed.net.ph, or visit www.makatimed.net.ph.

MacroAsia swings to net loss in 2020

MACROASIA Corp. said it swung to a net loss last year after a sharp decline in its revenues caused by the coronavirus pandemic’s impact on travel and tourism.

The listed company suffered an attributable net loss of P1.59 billion in 2020 versus the P1.13-billion profit logged in 2019, its annual report filed with the stock exchange on Wednesday showed.

“The net loss after tax for 2020 includes provisions amounting to P902.5 million, related to impairment provisions like expected credit losses and other provisions to comply with financial reporting standards,” the company noted.

Its total revenues last year dropped 63.40% to P2.26 billion from P6.17 billion in 2019.

The company’s in-flight catering business contributed 42% of the total revenues.

The catering business’s revenue fell 67.27% to P950.9 million. “The decline in revenue is aligned with the decline in meal count by 67% from 13.8 million to 4.5 million due to the decline in demand for air travel as a result of the COVID-19 pandemic,” the company noted.

Meanwhile, revenues from ground-handling and aviation services dropped 63.12% to P1.04 billion. Flights it handled declined by 124,990 (-63%), from 197,079 in 2019 to 72,089 in 2020.

The company said ground-handling and aviation services revenues contributed 46% of the total revenues.

MacroAsia saw its revenue from water operations, which contributed 10% of the total revenues, fall 36.6% to P221.42 million. “This decline is attributable to the downturn of commercial water sales in Boracay, as the island was impacted by the tourism closure due to COVID-19 restrictions and termination of bulk water supply contract of SUMMA in Marilao, Bulacan,” it said.

“The water businesses in other areas grew significantly, but such growth was not enough to offset the significant drop in billed volume in Boracay and Marilao. Billed volume of water in cubic meters (cu.m.) declined by 16% from 7.79 million cu.m. in 2019 to 6.50 million cu.m. in 2020,” MacroAsia noted.

MacroAsia shares closed 2.06% higher at P4.95 apiece on Wednesday. — Arjay L. Balinbin

J-Lo, H.E.R. and Foo Fighters to star in streamed concert to fund COVID-19 vaccines

EN.WIKIPEDIA.ORG

LONDON — Singers Jennifer Lopez and H.E.R. will star in a global streaming and broadcast special on May 8 to raise money for COVID-19 vaccines, following last year’s One World – Together at Home fundraiser in which locked-down stars including Lady Gaga performed from their homes.

VAX LIVE: The Concert to Reunite the World will be hosted by singer Selena Gomez and also feature the Foo Fighters and Eddie Vedder, according to organiser Global Citizen, an international advocacy group.

“This is really an opportunity to call on world leaders to make sure that the 27 million heroic healthcare workers around the world that don’t yet have access to a vaccine can get access over the coming months,” Global Citizen Chief Executive Hugh Evans told Reuters. The event will also campaign for fair and equal access to vaccines for all.

“The reality is that right now many of the wealthiest nations are starting to stockpile vaccines,” said Mr. Evans, adding the broadcast would urge nations to donate excess doses and give financial support to the COVAX facility, backed by the World Health Organization and the Global Alliance for Vaccines and Immunization. COVAX aims to secure 2 billion vaccine doses for lower-income countries by the end of 2021. — Reuters

Most Filipinos willing to pay for convenience — Facebook study

PHILIPPINE STAR/ MICHAEL VARCAS

By Arjay L. Balinbin, Senior Reporter

MOST Filipinos are willing to pay more for convenience, a Facebook study showed, suggesting that businesses should explore innovative ways to provide convenience to customers as a way to recover from the impact of the public health crisis.

“What convenience seekers are looking for are ways that you as companies can redefine value for them,” John Rubio, country director of Facebook Philippines, said at an online briefing on Tuesday.

He said 90% of Filipinos surveyed considered convenience “almost as important as rice.”

Mr. Rubio presented the results of the Facebook-commissioned “Emerging Trends Research” where 12,500 people (ages 18 to 64) from 14 countries including the Philippines were surveyed last year.

The study analyzed the changes in consumer behavior over the past year to guide badly impacted businesses as they try to recover from the ongoing crisis.

Respondents were asked if they were willing to pay for a product or service that would help them save time. They were also asked if they were willing to pay for a product or service that would free up their minds so they could think about more important things.

In the Philippines, 87% of the respondents said they would pay for products that free up their minds while 93% considered convenience alongside price when deciding what to buy.

Also, 92% of the participants thought social media platforms made life more convenient, with 87% saying social media allowed them to interact more and deepen their relationship with brands.

Respondents in the Philippines were also interested in live shopping. Facebook said 25% of them tried live shopping last year while 85% expected to increase their live shopping this year.

Facebook said marketers should set a new standard in convenience, embrace change as readily as their customers are, harness the power of community to create deeper connections — from Facebook Groups to innovative collaborations, and draw inspiration from the mobile-first and agile innovation of businesses around the world.

Akshat Jain, country lead of Growth Business at Facebook Philippines, presented the 2021 Global State of Small Business Report, which looked at the effects of the pandemic on small and medium-sized businesses (SMBs) and how they are pivoting towards the new normal. It reached out to over 36,000 SMB leaders, who are also Facebook users, across 27 countries and territories including the Philippines.

The survey found that 27% of SMBs in the Philippines closed in February while 56% of those that remained operational had reduced the number of their workers.

Almost half or 44% reported a decline in sales in January compared to last year.

“The pandemic led to reduced work forces and SMBs increasing their use of digital tools,” Mr. Jain noted.

He said 55% of global SMBs reported using digital tools to communicate with customers amid the pandemic crisis.

“Small businesses play an important role in pandemic recovery. At Facebook, we remain focused on providing small businesses with resources and tools, so that they could continue to reach and engage their customers, and hopefully accelerate business recovery,” Mr. Jain noted.

Vivant profit slides 38% as power sales falter

CEBU-BASED Vivant Corp. said on Wednesday that its net income attributable to its parent firm fell by 38% to P1.4 billion for the full-year 2020, as revenues declined.

In its annual report shared with the local bourse, Vivant said total revenues slid 37% to P3.8 billion last year compared with P6 billion in 2019. The drop was partly caused by lower power sales at P1.9 billion, a 47% decrease year on year.

The firm also noted that its subsidiary Vivant Energy Corp. did not record energy sales after its independent power producer administrator (IPPA) agreement with state-led Power Sector Assets and Liabilities Management Corp. was terminated in October 2019.

It said the decline in energy sales was mitigated by its subsidiaries’ improved revenues. Corenergy’s retail electricity supply business posted a 67% rise year on year, while ET Energy Island Corp.’s sales of solar rooftop projects were up by 20%.

Vivant President Arlo Angelo G. Sarmiento said the power generation business contributed 72% of the total income, followed by electricity distribution with a 27% share.

“Despite the challenges and uncertainties faced in 2020, Vivant has remained in a healthy financial position, maintaining healthy profits albeit lower than 2019, which had been our strongest year,” Mr. Sarmiento was quoted as saying in the report.

He said that the firm was able to secure a P3-billion fixed-rate corporate note facility despite the challenging times that it faced last year. The proceeds from the fund-raising activity will be used for the growth initiatives of Vivant’s power and infrastructure businesses.

Vivant also detailed its 20-year vision, saying it plans to become a “major conglomerate in the Philippines by 2040.”

Two months ago, the company said its subsidiaries Vivant Energy and Amberdust Holdings Corp. were set to acquire equity shares by infusing P433.83 million in Senator Juan Miguel F. Zubiri’s two power firms in Bukidnon. The acquisition will allow Vivant’s continued expansion in Mindanao.

Vivant, which is into power generation, distribution, and retail electricity supply, saw its shares inch up by 0.27% or four centavos to close at P14.62 each on Wednesday. — Angelica Y. Yang

Scrabble marks UK lockdown easing with light show

THEBARROWBOY/ EN.WIKIPEDIA.ORG

LONDON — Some of Britain’s favorite words were projected onto buildings around London to mark the easing of lockdown restrictions and National Scrabble Day on Tuesday.

Words like “freedom,” “hope,” “family,” and “beer” to represent the mood of the nation were beamed in the style of the game’s letter tiles onto a pub, shops and locations near landmarks such as the Harrods department store and the Shard skyscraper.

“Scrabble is projecting the nation’s favorite words to coincide with the lockdown lifting in the UK and National Scrabble Day,” said company spokeswoman Amarilis Whitty.

Scrabble commissioned a survey to find the words that best summed up people’s feelings as months of lockdown began to be eased on Monday.

The game that would eventually be called Scrabble was invented in New York by Alfred Mosher Butts, an unemployed architect, during the Depression. National Scrabble Day is celebrated on his birthday.

A redesigned version of the game, played in more than 120 countries in 33 languages, is being put on sale with the board rebranded from green to blue.

Scrabble said lockdown had boosted sales of the game in Britain by 51.2% in 2020. — Reuters

Yields on term deposits decline

BW FILE PHOTO
YIELDS on the central bank’s term deposits dropped on Wednesday on expectations of slower economic activity amid the lockdown. — BW FILE PHOTO

YIELDS on the central bank’s term deposits slipped on Wednesday as some restrictions remain in place, which could slow down economic activity and bring down inflationary pressures.

Total tenders for the term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) amounted to P634.779 billion on Wednesday, higher than the P490-billion offer but lower than the P651.115 billion in bids recorded in previous auction.

“The results in the TDF auction reflects the continued normalization in market participants’ sentiment on liquidity conditions, amid ample supply in the financial system,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

Broken down, demand for the seven-day papers reached P181.415 billion, surpassing the P140-billion offer but lower than the P191.731 billion in tenders seen a week ago.

Accepted rates for the one-week term deposits ranged from 1.7% to 1.8%, a narrower band compared with the 1.7% to 1.825% logged a week earlier. This brought the average rate of the tenor down by 1.05 basis points (bps) to 1.7737% from 1.7842% previously.

Meanwhile, tenders for the 14-day deposits amounted to P453.364 billion, going beyond the P350 billion on the auction block but down from the P459.384 billion in bids last week.

Lenders asked for yields ranging from 1.78% to 1.83%, a tighter margin compared with the 1.75% to 1.8625% seen the previous week. This caused the average rate of the two-week tenor to 1.8097%, lower by 3.34 bps from the 1.8431% a week ago.

The BSP did not offer 28-day deposits for the 25th straight auction to give way to its weekly auctions of bills with the same tenor.

The term deposits and the BSP bills are instruments used by the central bank to mop up excess liquidity in the financial system and guide market interest rates.

TDF yields went down as Metro Manila and surrounding provinces Cavite, Laguna, Rizal, and Bulacan remain under tight restriction measures, affecting businesses and, consequently, prospects for economic recovery.

“Though eased from the lockdown, the MECQ (modified enhanced community quarantine) in NCR (National Capital Region) Plus until April 30 could still lead to a slowdown in economic recovery and could reduce inflationary pressures, especially on the demand side,” Mr. Ricafort said in a text message.

Under MECQ, only authorized persons working outside their residence can use public transportation. Also, while businesses can already open fully under MECQ, enterprises related to entertainment and personal care services are still not allowed to reopen.

Meanwhile, headline inflation in March slowed to 4.5% from 4.7% in February, the Philippine Statistics Authority reported last week. This was mainly due to the slower increase in food prices.

Despite this, March marked the third straight month that the headline print went beyond the central bank’s 2-4% target as supply issues caused a hike in prices of meat products.

The central bank expects headline inflation to average 4.2% this year before easing to 2.8% in 2022. BSP officials have said the inflation path is likely to ease below the midpoint of the 2-4% target towards the fourth quarter. — Luz Wendy T. Noble

Huawei says 6G tech still being defined; 2030 launch possible

REUTERS

HUAWEI Technologies Co., Ltd. said the sixth-generation wireless communication technology or 6G, which the technology industry anticipates to be available in the market by 2030, remains unclear to the company.

“We think 6G will be launched in the market around 2030, but we still don’t know what 6G is,” Eric Xu, Huawei’s rotating chairman, said at the “Huawei Global Analyst Summit 2021” on April 12.

“The only thing we know is that our industry wants to launch something that could contribute to enterprises as well as consumers by around 2030 just like what the industry has done with 4G and 5G,” he added.

He said Huawei is currently working with other industry players to define what 6G actually is.

Huawei intends to launch its white paper on 6G “in the near future” to show to consumers and businesses what the technology would look like, Mr. Xu noted. “At the same time, we are also conducting research into cutting-edge technologies to help us, as well as the whole industry, in realizing 6G.”

“If the industry concludes that all of the scenarios and use cases that 6G is supposed to support can actually be supported by 5G or 5.5G, then 6G would be of little value. If that’s the case, we will have to wait for the next generation of industry players, who may be smarter than us or who may have different technology consumption behaviors, to brainstorm and come up with use cases that can only be addressed by 6G. That’s how the demand will come for 6G,” Mr. Xu explained.

Mr. Xu reiterated that Huawei should definitely prepare itself for the possible arrival of 6G with the necessary investment.

Huawei also intends to invest more in businesses that are less reliant on advanced process techniques.

It will also invest more in components for intelligent cars, maximize 5G and define 5.5G with other industry players “to drive the evolution of mobile communications.”

“We will continue to find ourselves in a complex and volatile global environment. The resurgence of COVID-19 (coronavirus disease 2019) as well as geopolitical uncertainty will present challenges for every organization, business, and country,” Mr. Xu noted. — Arjay L. Balinbin

Eastern Communications buys Moderna vaccines for employees

TELECOMMUNICATIONS service provider Eastern Communications has started purchasing doses of coronavirus vaccines from American pharmaceutical and biotechnology firm Moderna, Inc. for all its employees, a company official said.

“While the sourcing of the vaccines is a challenge as of the moment, we were already able to procure initial doses, and we will continue to source for more in the coming months,” Eastern Communications Co-Coordinator Aileen D. Regio said in an e-mailed statement on Monday.

The company is providing free vaccines to its more than 500 employees.

“Eastern Communications also aims to help keep its employees’ households safe by extending the vaccination program to workers who opt to purchase for their families and other members of their household at cost,” it said.

The vaccines will be delivered in batches from the second to the fourth quarter of this year.

“This initiative is in line with Eastern Communications’ commitment to ensure the health and safety of its employees especially during the pandemic,” the company said.

“Since the implementation of quarantine measures last year, the telco has enforced its COVID-19 Task Force to administer safety protocols and guidelines in line with government standards and also enacted a robust internal program supporting its employees during these tough times, including a line-up of health and wellness activities,” it added.

The company announced in February that it was allotting P2.8 billion for its expansion plans this year, which will cover wider service areas, including Davao City, Cagayan De Oro, Dumaguete, Tagbilaran, Bacolod, Roxas, Kalibo, Caticlan, Boracay, Naga, Legazpi, Iriga, and Sorsogon.

The company said it intends to support the government’s “digital cities” program aimed at boosting rural development. — Arjay L. Balinbin

Listen to the music of a spider’s web

CHRISTIAN ENGLMEIER/UNSPLASH

IT IS an eerie, foreboding, reverberating tune, enough to send a tingle down your spine.

This is what a spiderweb sounds like.

From communication to construction, spiderwebs may offer an orchestra of information, says Markus Buehler, engineering professor at the Massachusetts Institute of Technology, who has been using artificial intelligence to study them.

“Spiders utilize vibrations as a way to communicate with the environment, with other spiders,” he said. “We have recorded these vibrations from spiders and used artificial intelligence to learn these vibrational patterns and associate them with certain actions, basically learning the spider’s language.”

Mr. Buehler and his team of researchers created 3D models of spiderwebs when the arachnids were doing different things —  such as construction, repair, hunting and feeding. They then listened for patterns in the spider signals and recreated the sounds using computers and mathematical algorithms.

“Spiders are a whole different animal,” said Mr. Buehler. “What they see or sense isn’t actually audible or visible to the human eye or the human ear. And so by transposing it, we begin to experience that.”

Mr. Buehler hopes his team’s work could enable humans to understand the language of a spider and one day communicate with them.

“The melodies are really the kind of relationships that the spider would also experience. And so we can begin to feel a little bit like a spider in that way,” Mr. Buehler said.

There are more than 47,000 species of spiders, and all spin silk webs to provide housing and catch food. Scientists say the silk from a spiderweb is five times stronger than steel.

The living structure of a spiderweb could lead to innovations in construction, maintenance and repair, Mr. Buehler said. “We can imagine creating a synthetic system that would mimic what the spider does in sensing the web, repairing the web,” he said. — Reuters

Outstanding T-bills, bonds hit P7.2 trillion as of March

BW FILE PHOTO

OUTSTANDING Treasury bills (T-bills) and Treasury bonds (T-bonds) issued by the government rose to P7.203 trillion as of March as it completed its first retail bond sale for the year, data from the Bureau of the Treasury (BTr) showed.

Latest BTr data released on Wednesday showed outstanding government securities went up by 5.58% from the P6.822 trillion seen as of February.

The government runs on a budget deficit as it spends more than the revenue it generates. Falling tax collections and stimulus spending due to the coronavirus pandemic forced the state to borrow more from both local and foreign lenders.

National Treasurer Rosalia V. de Leon said the T-bills issued are mainly used to refinance existing debts. Outstanding debt will rise further throughout the year to meet the funding needs of the government, she said.

BTr data showed outstanding T-bills went up by 4.2% to P1.049 trillion as of last month from P1.007 trillion at end-February. Year on year, this grew by 81%.

The total was made up of P140 billion in 91-day debt, P201.85 billion in 182-day T-bills, and P707.39 billion in 364-day papers.

Meanwhile, outstanding T-bonds were at P6.154 trillion as of March, up 5.8% versus the P5.815 trillion recorded the month before. This was also 24% higher than the P4.96 trillion logged in the same period last year.

The increase was largely due to the P463.32 billion in three-year retail Treasury bonds (RTBs) issued on March 9.

Broken down, the outstanding bonds were comprised of P252.5 billion in three-year debt papers, P316.78 billion in five-year bonds, P458.13 billion in seven-year notes, P757.72 billion in 10-year securities, P420 billion in 20-year IOUs, and P235.98 billion in 25-year papers.

On the other hand, RTBs issued reached P2.596 trillion.

The government ramped up its borrowings last year to plug its budget deficit that hit 7.63% of the gross domestic product (GDP) from a record low ratio of 3.38% in 2019.

For this year, it is looking to raise P3 trillion from domestic and external lenders as the fiscal gap is seen to hit 8.9% of GDP. It plans to source 85% of the total from the local debt market while the rest will be sourced abroad. — B.M. Laforga