Unbeaten Hotshots gun for solo lead vs NLEX today

February 16, 2022 | 12:04 am

MAGNOLIA coach Chito Victolero expects a fierce challenge from bounce back-seeking NLEX when the unbeaten Hotshots gun for the Philippine Basketball Association (PBA) Governors’ Cup’s solo lead today at the Smart Araneta Coliseum.

The Road Warriors (4-2) have lost their last two games, which, Mr. Victolero noted, makes them all the more dangerous for his 4-0 charges.

“They (NLEX) are sure to bounce back hard so we need to be ready for that. Their aggressiveness and energy, siguradong mataas ‘yan so we have to at least match that,” Mr. Victolero said ahead of the 3 p.m. clash that ushers in the PBA’s second week of resumption and the return of a live audience.

NLEX mentor Yeng Guiao tasked his players to go for a strong start as opposed to their previous game, where they allowed Meralco to take control early and cruise to a 110-100 victory.

“We need good energy from the start. We could not dig ourselves out of the hole early on in our last game. We can’t make the same mistake against a team that’s still undefeated (Magnolia),” he said.

Meanwhile, San Miguel Beer (3-2) parades new import Orlando Johnson as it shoots for its fourth straight win in the 6 p.m. main game against skidding TnT (2-4). The Beermen brought in Mr. Johnson, who previously played for Ginebra in 2015, after starting the tournament with Brandon Brown.

The Tropang Giga, who are doing double duties with Gilas Pilipinas, seek to snap a two-game slide amid weary legs and injuries to key players RR Pogoy (calf) and Poy Erram (back). Coach Chot Reyes and his wards play their third match in six days with a fourth one set on Friday against Barangay Ginebra before embarking on Gilas’ FIBA World Cup Asian Qualifiers campaign.

Like TnT, opening-game protagonists Magnolia and NLEX are dealing with injury issues.

Calvin Abueva suffered a left calf strain in the Hotshots’ 96-93 win over TnT last Friday, joining Rome dela Rosa (hamstring) and James Laput (bone spurs) on sick bay. NLEX’ veteran Tony Semerad (calf) and rookie Calvin Oftana (fractured hand) got hurt in Friday’s duel with Meralco and would need a few weeks to recover. — Olmin Leyba

Vaccines, effective COVID-19 drugs key to exiting pandemic — NIH

February 16, 2022 | 12:04 am

VACCINES and effective medications play vital roles in exiting the coronavirus disease 2019 (COVID-19) pandemic, said infectious disease experts in a webinar organized by the University of the Philippines (UP) on Feb. 11.

“I think that we are in a much better place compared to where we were two years ago … A big part of that is because of our vaccines and the fact that we have effective medications,” said Dr. Edsel Maurice T. Salvaña, director of the Institute of Molecular Biology and Biotechnology at the National Institutes of Health (NIH) in UP Manila.

The availability of safe and effective drugs, he added, will decrease mortality and morbidity, especially in vulnerable populations.

On Friday, the Department of Health announced that in the Philippines, COVID-19 is moving toward an endemic state, just like tuberculosis and dengue (the World Health Organization defines an endemic disease as one that is “circulating at a lower and more predictable rate in the population”).

“The medications matter because even with our vaccination, the vulnerable population will still have a residual 1% risk of death. Medications can decrease risk by nearly 90%,” said Dr. Salvaña.

Though studies on COVID-19 medications are focused on the unvaccinated, it is “reasonable to assume” that these also help the vaccinated. The incremental benefit should be the same since they decrease viral replications, he added.

In the Philippines, available antiviral drugs include remdesivir, molnupiravir, and paxlovid, which have proven effective against mild, moderate, and severe COVID-19 infections.

Dr. Mary Ann Lansang, a retired infectious disease professor from the UP College of Medicine, reiterated that these treatment drugs are the line of defense after vaccines.

“An ounce of prevention is worth more than a pound of cure … Vaccination can prevent death and severe illness. The medicines are there for those who slipped through the cracks,” she said.

Though the country is nearing the point of minimizing the impacts of COVID-19 on deaths and hospitalizations, the public should still get vaccinated, both experts stressed.

The medicines still don’t come close to the benefit that one could get from vaccination, said Dr. Salvaña. — Brontë H. Lacsamana

Loyalty, analytics platform Society Pass acquires Pushkart.ph

February 16, 2022 | 12:04 am

SOUTHEAST Asian loyalty and analytics platform Society Pass, Inc. (SoPa) is expanding to the Philippines after fully acquiring online grocery delivery service firm Pushkart.ph.

In a statement on Tuesday, Nasdaq-listed Society Pass said it will help Pushkart.ph expand its on-demand grocery shopping services to more consumers and retailers across the country.

“We are excited to combine the robust technology, retail, and operational prowess of a high-performance brand like Pushkart.ph with our brand-building experience,” Society Pass Founder, Chairman and Chief Executive Officer (CEO) Dennis Nguyen said.

“As the Philippine consumer faces tremendous challenges with traditional brick and mortar shopping due to a plethora of hurdles including excessive wait times in traffic or public transport, SoPa aims to provide viable solutions by providing impetus to the growing e-commerce industry in the country,” he added.

Society Pass describes itself as a “loyalty and marketing ecosystem” that operates through various e-commerce and lifestyle platforms. It collects user data through its universal loyalty points.

The company said it is aiming to maximize technology for a “more personalized” online shopping experience, aiming to transform the retail value chain in the region.

Its acquisition of Pushkart.ph will help penetrate online grocery shopping in the Philippines. Pushkart.ph’s online grocery delivery services application currently has more than 125,000 registered users, over 35,000 social media followers, and over 20,000 mobile application downloads.

Society Pass aims to grow Pushkart.ph’s userbase to over 300,000 registered users with mobile downloads of over 150,000 this year.

Pushkart.ph CEO Michael Lim said joining the Society Pass ecosystem will allow his company to maximize the SoPa platform’s technology and strengthen Pushkart.ph’s own senior management resources.

“We foresee that this will lead to immediate returns in terms of cost optimization and increased revenue generation. With the capital provided by SoPa, Pushkart.ph will now be empowered to provide enhanced end-to-end solutions to our customers and ensure an amplified market presence,” Mr. Lim said.

For Pushkart.ph, Society Pass plans to launch more of its hubs in cities and in more regions as well as increase manpower to meet consumer demand. It aims to have Pushkart.ph serve 19 cities in Metro Manila with guaranteed next-day delivery.

Society Pass plans to acquire more Philippine companies as it expects exponential growth for the e-commerce industry in the country.

The company noted that the e-commerce industry is expected to grow 24% to P40 billion in 2025 from $17 billion in 2021.

“As Philippines is a cornerstone of SoPa’s VIP (Vietnam, Indonesia, and Philippines) acquisition strategy, I expect to acquire a number of market-leading companies in [the] Philippines over the next few months,” Mr. Nguyen said. — Keren Concepcion G. Valmonte

Popular Chicago penguin pair to star in children’s book

February 16, 2022 | 12:03 am

CHICAGO — There are new tour guides in town at the Chicago Shedd Aquarium, and they are about to star in a children’s book.

A video of an inseparable pair of penguins, affectionately known as “Edward and Annie” went viral as they explored the aquatic world of sea animals at the aquarium in the early months of the coronavirus disease 2019 (COVID-19) pandemic in 2020.

The companions quickly rose to celebrity status. With the aquarium closed to visitors, the empty halls were an adventure awaiting the waddling duo to visit some of their fellow inhabitants.

“They go on field trips, and we take them all around the aquarium which spurred their stardom being out and about during the pandemic,” said Megan Vens-Policky, an animal caretaker.

The wandering birds brought a silver lining to their virtual audience during quarantines and a cycle of lockdowns. Trainers have said that the birds’ freedom to roam has been beneficial to their own welfare, too.

They have even visited another Chicago celebrity: Sue the Tyrannosaurus rex skeleton at the nearby Field Museum.

Needless to say, Edward and Annie’s notoriety has only just begun. A book titled Edward and Annie: A Penguin Adventure is slated to hit shelves next month.

“It wasn’t on my mind that it should be a children’s book — but it brought so much joy to me, my family and so many people that I thought it made since to go that direction,” said Caryn Rivadeneira, the author.

The birds will be central characters of the book as it highlights the challenges and fun when embarking on new adventures.

“The book talks about how new things that are different can be a little scary, but exciting at the same time. I hope that our readers can take that to heart and tap into that sense of adventure,” Ms. Vens-Policky said.

The book will go on sale March 1. A portion of proceeds will benefit the penguins at the Shedd Aquarium, and conservations for penguins in the wild. — Reuters

3-time SEAG gold medalist John Leerams Chicano tops National Triathlon Trials

February 16, 2022 | 12:03 am

Chicano_PSC — JOHN LEERAMS ‘RAMBO’ CHICANO

THREE-TIME Southeast Asian Games (SEAG) gold medalist John Leerams “Rambo” Chicano showed his readiness to compete in the Hanoi Games as he topped the National Triathlon Trials at the Adventure Cove in Subic Freeport over the weekend.

Mr. Chicano overcame a slow start in the swim part with a powerful effort in the cycling and running phases to rule the one-day race in two hours, four minutes and 58 seconds, edging 2019 SEA Games silver medal winner Kim Remolino and Baguio City’s Josh Ramos, who snared the silver and bronze in 2:05:44 and 2:07:40, respectively.

The effort solidified Mr. Chicano’s place as the country’s top bet in both triathlon and duathlon in the biennial meet slated for May 12-23 after he also ruled the National Duathlon Trials in Clark, Pampanga in December last year.

The race is supported by the Philippine Sports Commission, SBMA, Standard Insurance, Gatorade, Asian Centre for Insulation Philippines, FINIS and PTV4 and organized by the Triathlon Association of the Philippines headed by Tom Carrasco and secretary-general Ramon Marchan.

Cebu pride Raven Faith Alcoseba came through big in reigning supreme in the National Age Group Triathlon on the same date and venue by clocking 2:23:19.

Erika Nicole Burgos (2:25:44) and Lauren Plaza (2:29:38) took the silver and bronze, respectively.

Other category winners were Ronel Victor (men standard 18-24), Carl Vincent Gutierrez (25-29), Michael Kramer (30-34), Reagan Nabua (35-39), Jethro Ramos (40-44), Rene Tayag (45-49), Jessie Magat (50-54), Raoul Henson (55-and-over), Jacquelyn Ann Cruz (women standard 18-39), and Celma Hitalia (40-and-over).

In the age group, Darrel Johnson Badua and Erin Denise Burgos topped the super sprint for 13-15 years old, Kira Ellis in girls’ super sprint for 16-19 and Jacob Clint Lipura, Irenold Reig, Jr. and Matthew Justin Mendoza reigning as co-champions in the boys 16-19.

In the relay events, George Alcido and Neil Nazario took the mint in the standard relay men, Cathery Manalastas, Jilliane Santos and Anika Tayah in the women and Paolo Medina, Arnel Buhia and Angeline Milig in their standard mixed gender. — Joey Villar

Prior COVID offers less protection vs Omicron; mRNA booster shot efficacy declines within months

February 16, 2022 | 12:03 am

THE following is a summary of some recent studies on coronavirus disease 2019 (COVID-19). They include research that warrants further study to corroborate the findings and that has yet to be certified by peer review.

PREVIOUS COVID-19 LESS PROTECTIVE AGAINST OMICRON VARIANT
The immune response to COVID-19 helps protect against reinfection, but that protection is weaker against Omicron than it was against earlier variants of the coronavirus, according to new data.

A previous SARS-CoV-2 infection protects against Omicron reinfection only 56% of the time, researchers found in a review of national data in Qatar. Having had COVID was 90.2% effective against reinfection with the Alpha variant, 85.7% effective against a Beta variant reinfection, and 92% effective against Delta reinfection, researchers reported on Wednesday in The New England Journal of Medicine.

As was the case with reinfection due to earlier variants, however, “the protection of previous infection against hospitalization or death caused by reinfection (with Omicron) appeared to be robust,” they said. In cases of reinfection with Omicron, for example, the immune response to previous infection was 87.8% effective at preventing the second infection from progressing to severe or critical illness or death.

mRNA VACCINE BOOSTER PROTECTION DECLINES WITHIN MONTHS
Protection provided by booster shots of the mRNA vaccines from Moderna, Inc. or Pfizer, Inc. and partner BioNTech SE starts waning quickly, according to data published in Friday’s Morbidity and Mortality Weekly Report from the US Centers for Disease Control and Prevention.

Researchers reported that within two months after the second dose of an mRNA vaccine during the surge in infections caused by the Delta variant of the virus, vaccine efficacy was 94% against hospitalization and 92% against emergency department or urgent care (ED/UC) visits. Efficacy waned thereafter, but climbed to 96% and 97%, respectively, at two months after a booster shot. Four months later, however, that protection had declined to 76% and 89%.

Once Omicron became predominant, vaccine efficacy was 71% against hospitalization and 69% against ED/UC visits within two months after the second dose, 91% and 87% at two months after a booster, and 78% and 66% four months later. The estimates are drawn from analyses of 241,204 COVID-related ED/UC visits and 93,408 hospitalizations between August and January.

“Our findings suggest that additional doses (of vaccines) may be necessary,” Brian Dixon of the Regenstrief Institute and Indiana University said in a statement. “We also found that people who are Hispanic or Black are half as likely to have a third vaccine dose than people who are white, making (them) more vulnerable to severe COVID.” — Reuters

GCash sees ‘deep entrenchment’ of e-wallet among Filipinos

February 16, 2022 | 12:03 am

GCASH expects to sustain its growth this year by expanding its portfolio of services, including options for loans and investments.

“With the growing portfolio of relevant products, as far as GCash is concerned, we see that adoption will continue to grow among Filipinos,” GCash President and Chief Executive Officer Martha M. Sazon said in an e-mailed statement on Tuesday.

The company attributes its optimism to the “deep entrenchment of the e-wallet in the lives of Filipinos,” especially during the pandemic.

GCash noted that it more than tripled its gross transactions last year to P3.8 trillion from P1.2 trillion in 2020.

It ended 2021 with 55 million registered users, 4.5 million merchants and social sellers, and around 174,000 cash-in and cash-out agents.

“We see that the behavior formed during the lockdown is sustained even as the economy opens up,” Ms. Sazon said.

GCash, operated by Globe Fintech Innovations, Inc. (Mynt), achieved profitability three years ahead of its target, the company noted.

“In 2021, GCash became the only double unicorn in the Philippines, reaching a valuation of over $2 billion,” it added.

The company said that among its priorities this year is to provide the unbanked segment of the country with access to credit through GLoan and GGives, “where we’ve had really positive initial results.”

It also aims to cover cryptocurrencies and stock trading. — Arjay L. Balinbin

S&P raises BPI rating outlook to ‘stable’ on signs of recovery

February 16, 2022 | 12:03 am

S&P GLOBAL RATINGS on Tuesday revised its rating outlook for Bank of the Philippine Islands (BPI) to “stable” from “negative” as the economy’s recovery is expected to bring down credit costs of local lenders.

A stable outlook means the rating is likely to be maintained in the next 12 to 18 months. BPI’s BBB+ long-term rating was affirmed as well as its A-2 short-term issuer credit rating, S&P said in a statement on Tuesday.

“The stable outlook on BPI reflects our view that the bank will maintain its dominant market position and strong capital buffers over the next two years,” the debt watcher said.

“The outlook revision reflects our view that BPI will benefit from improving economic conditions in the Philippines… Increased mobility and improved business and consumer sentiment will support a recovery in the banking sector,” S&P added.

The credit rater said Philippine banks are expected to get a lift from the economy’s rebound as it expects gross domestic product to grow by 7.4% this year, within the government’s 7-9% target and faster than the 5.6% expansion in 2021.

S&P said BPI’s strength lies in its solid franchise and being among the leading banks in the market, adding the lender has proven consistent profitability across economic cycles and has already seen recovery from the downturn caused by the coronavirus pandemic.

“In our opinion, the bank is well placed to weather residual stress from a position of strength, with good capital and liquidity buffers,” the credit rater said.

The debt watcher expects BPI’s credit costs to decrease as asset quality gets better. The nonperforming loan (NPL) ratio of the bank stood at 2.49% as of Dec. 31, down from its peak of 2.94% at end-June 2021 but still higher than the 1.66% seen at the end of 2019 before the crisis.

“The bank’s NPL ratio remains better than the industry average, reflecting prudent underwriting and selective lending practices,” S&P said.

BPI’s credit costs also shrank to 0.93% in 2021 from 1.96% in 2020 reflecting the industry-wide trend, showing that the economy has seen some recovery, it noted.

However, S&P said BPI could still face asset quality risks due to the threat of emerging variants that could impede economic reopening.

The credit rater expects the bank’s healthy capitalization and strong funding profile will provide support for its rating.

“We expect the bank’s risk-adjusted capital (RAC) ratio to remain strong at 10.5%-11.5% over the next two years,” S&P said.

The bank’s common equity Tier 1 and total capital ratios of 16.8% and 17.6% as of end-September 2020 are also beyond regulatory minimum and among the highest compared with its peers, it added.

Meanwhile, S&P warned that a higher-than-expected credit losses or rapid loan expansion, which could in turn result to BPI’s RAC going below 10% on a sustained basis, could cause a rating downgrade for BPI.

The Ayala-led lender’s net income rose by 11.5% to P23.88 billion in 2021 from a year earlier, supported by the lower loan loss buffers and higher fee income which offset the decreased interest earnings.

BPI’s shares closed at P99 apiece on Tuesday, down by P1 or 1% from its previous finish. — L.W.T. Noble

Amy Schumer, Regina Hall and Wanda Sykes to host the Oscars — reports

February 16, 2022 | 12:02 am

LOS ANGELES — Comic actors Amy Schumer, Regina Hall, and Wanda Sykes will host this year’s Academy Awards ceremony as producers try to attract new viewers after record-low ratings in 2021, Hollywood publication Variety and other media outlets reported on Monday.

The actors are finalizing details and an announcement will be made on Tuesday on ABC’s Good Morning America, Variety said. ABC, owned by Walt Disney Co., will broadcast the Oscars ceremony on March 27.

The film industry’s highest honors, which are handed out by the Academy of Motion Picture Arts and Sciences, have not had a host since 2018.

Ms. Schumer won an Emmy in 2015 for her variety sketch show Inside Amy Schumer. Ms. Hall is known for movies including Girls Trip and Little. Ms. Sykes stars in and created The Upshaws and played a recurring role on Black-ish.

Representatives for the actors, the academy, and ABC did not immediately respond to requests for comment.

The Oscars were handed out by celebrity presenters but had no host in 2019, 2020, and 2021. Ratings for the telecast have fallen in recent years, dropping to a low of 10.4 million people in the United States in 2021. Viewership of other entertainment awards shows also has declined.

The 2021 Oscars ceremony was scaled down because of the coronavirus disease 2019 (COVID-19) pandemic. The awards were handed out at a historic train station in downtown Los Angeles in front of a small audience of nominees and guests.

This year, organizers have said the show will return to its longtime home of the Dolby Theater in Hollywood.

Netflix, Inc.’s gothic Western, The Power of the Dog, leads the field of this year’s Oscar nominations with 12 nods, followed by science-fiction epic Dune with 10. — Reuters

‘Ski like yourself,’ coach tells Miller

February 16, 2022 | 12:02 am

miller_2022-02-09_19-25-32 — THE PHILIPPINE STAR FILE PHOTO

“Trust yourself.”

Fil-Am alpine skier Asa Miller received this piece of advise from his coach Will Gregorak as the former plunges into action in his second and last event — the men’s slalom — today at the Ice River track.

“Trust your feet and trust yourself as the skier you are,” Mr. Gregorak told the 21-year-old two-time Olympian during training runs on Tuesday. “It’s similar to what I told you before — the best you can possibly ski on race day is to ski like yourself.”

At press time, the start list has yet to be released but Mr. Miller is expected to be all out to redeem himself from a disappointing performance in the giant slalom on Sunday when he had a DNF (did not finish).

The first run is set at 10 a.m., and if Mr. Miller, whose trip is being bankrolled by the Philippine Sports Commission chaired by William Ramirez, completes it, he will join the second run at 1 p.m.

Mr. Miller will face an ultra-competitive field headed by four-time Olympian Dave Ryding of Great Britain.

Other competitors to watch out for are World Cup veteran Lucas Braathen of Norway, 2017 world champion Manuel Ferrer of Austria, 2018 world junior champion Noel Clement of France, and Pyeongchang 2018 Olympics team event gold medalist Daniel Yule of Great Britain.

For Mr. Miller to be successful, Mr. Gregorak said the former must overcome his fears.

“You’re not going to become another person, and you are already an excellent skier,” said Mr. Gregorak.

“All you have to do is find the feeling that you already know. When you get into the gate, it’s just you and the course. Go and have some fun by making your best turn.” — Joey Villar

Pharmacy expands compounding medicine categories

February 16, 2022 | 12:02 am

Apotheca_Integrative_Pharmacy_branch_in_Legazpi_Village,_Makati — Apotheca Integrative Pharmacy

APOTHECA INTEGRATIVE Pharmacy (AIP), a specialty pharmacy in Makati City, expanded its compounding medicine portfolio to include categories such as hormone replacement therapy, weight loss management, intravenous nutrition, thyroid medications, and dermatological preparations.

Compounding refers to the preparation of personalized medications for patients. “We acknowledge the fact that, nowadays, one-size-fits-all isn’t the only available [approach] in pharmaceutical care,” said pharmacist Marjorie V. Manrique, AIP director and laboratory head, in a Feb. 9 event.

While all compounded medicines are doctor-prescribed, none are approved by the Philippine Food and Drug Administration (FDA) since this regulatory process is reserved for manufactured drugs from traditional pharmaceutical companies.

The AIP facility itself, however, has been licensed since 2014 by the FDA to compound drugs.

In the United States, compounding pharmacies are controversial. Poor compounding practices, per the US FDA, can result in serious drug quality problems such as contamination.

BIOCHEMICALLY UNIQUE
Compounding does away with inactive ingredients that an individual might be allergic to (such as dyes, preservatives, and lactose). The process also allows pharmacists to adjust dosage strengths, and make a medicine more digestible through the addition of a flavor, or the transformation of its form, say, from a lozenge to a liquid solution.

“When a prescription comes in, an order management pharmacist first validates it before forwarding the prescription to a compounding pharmacist,” she said. “Any red flag will have to be directly clarified with the patient’s doctor. Only when it’s validated does the compounding pharmacist facilitate [the compounding process].”

Customized medicines, which are not necessarily more expensive than their mass-produced equivalents, expand treatment options available to patients, said Benjamin G. Topacio, AIP sales and marketing manager.

“If a request for a medication comes in and we have it in our data bank, we just ask for a prescription from them,” he said. “If the formulation is not available in our data bank, we study the market for its indication… procure the API [Active Pharmaceutical Ingredient] for it, inform doctors, and then the same validation process goes through.”

The specialty pharmacy is affiliated with healthcare practitioners from different organizations, including St. Luke’s Medical Center, The Medical City, Perpetual Help Medical Center, Belo Medical Group, The Aivee Group, and Go2Health.

“Each person is biochemically unique,” said Dr. Imelda S. Edodollon, an integrative medicine doctor who refers her patients to AIP for compounded drugs. “We all have our own medical needs… Thus, each of us needs to be assessed as the individual we are.”

AIP launched its website and e-commerce platform this year to make its products and services more accessible. — Patricia B. Mirasol

Century Pacific: P700-M facility expansion to be completed in Q1

February 16, 2022 | 12:02 am

Century Pacific Food, Inc. on Wednesday said its P700-million coconut facility expansion in Mindanao is expected to be completed by the end of the first quarter of the year.

“This much needed expansion allows us to fully serve the needs of our key partners and consumers, both locally and globally. Investing in our facilities expansion is key to support our growth for both the branded and the OEM (original equipment manufacturer) businesses in 2022 and years to come,” Vice-President and General Manager Noel M. Tempongko said in a statement.

The expansion will increase the plant’s capacity by 50%.

In 2020, Century Pacific signed the extension and expansion of long-term contracts with Malaysia’s Linaco Group and All Market, Inc.’s coconut water brand Vita Coco.

The Linaco Group is a Malaysian-based coconut producer that offers a range of high-value products sold in major retail outlets domestically and internationally. It has a network in over 40 countries, including China, Hong Kong and Australia, and across Europe and Middle East.

Century Pacific is one of the largest and long-time manufacturers of Vita Coco. The company has produced the brand’s coconut products, including packaged coconut water.

“The demand for coconut products has dramatically increased in recent years. More and more consumers are now aware of and actively manage their health and wellness every day, and they turn to coconut products, which are intrinsically healthy, to support their lifestyles,” Mr. Tempongko said.

In 2019, Century Pacific launched its own line of branded coconut products called Coco Mama, composing of packaged coconut cream, coconut oil, and coconut sugar.

In 2021, the food and beverage company completed the commissioning of a 5.2-megawatt solar photovoltaic plant for its tuna and coconut manufacturing facilities. The power plant serves around 15% of the requirements of the two divisions and harnesses over 60% of these from clean energy sources.

In 2020, Century Pacific’s coconut division launched a tripartite partnership with Globe Fintech Innovations, Inc.’s GCash and Generation Hope, Inc.’s nonprofit impact organization HOPE to plant a million coconut trees in Mindanao to be donated to small-holder coconut farmers.

In the third quarter of 2021, Century Pacific’s net income attributable to parent company grew 22.3% or P1.26 billion from P1.03 billion the year earlier.

From January to September last year, attributable net income rose P3.98 billion or 21.4% from P3.28 billion in 2020.

At the stock exchange on Tuesday, company shares dropped 80 centavos or P3.27% to close at P23.70 apiece. — Luisa Maria Jacinta C. Jocson