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PSEi to move sideways on rebalancing, oil prices

SHARES are seen to move sideways following the rebalancing of the index and the rise in oil prices, as well as anticipation of the start of the campaign period for this year’s national elections.

The benchmark Philippine Stock Exchange index (PSEi) climbed 73.58 points or 0.99% to end at 7,456.35 on Friday, while the broader all shares index rose 27.74 points or 0.71% to finish at 3,933.94.

Week on week, the index gained 204.38 points from its 7,251.97 close on Jan. 28.

“Local equities surged as optimism returned on the back of easing of alert levels in the Metro, shrugging off the US Federal Reserve’s hawkish tone in the previous week,” online brokerage 2TradeAsia.com said in an e-mail sent over the weekend.

The US central bank earlier said it is likely to raise borrowing costs starting March to quell rising inflation. Markets expect the Fed to fire off at least three rate hikes this year.

This week, analysts said investors will react to the index rebalancing. Other drivers are the surge in oil prices as well as the start of the election campaign period.

“The news of a PSEi rebalancing, placing in Monde Nissin Corp. (MONDE) and Emperador, Inc. (EMP), while removing Bloomberry Resorts Corp. (BLOOM) and Robinsons Retail Holdings, Inc. (RRHI), may cause some turbulence from the beginning of next week to its end,” COL Financial Group, Inc. Chief Technical Analyst Juanis G. Barredo said in a Viber message on Friday.

On Friday, the PSE announced MONDE and EMP will be part of the PSEi effective Feb. 14 after the regulator’s review of the index and sectoral indices’ performances from the first to last trading days of 2021.

Mr. Barredo said the addition of two companies to the PSEi will drive index funds and investors to purchase shares in MONDE and EMP and sell BLOOM and RRHI.

Meanwhile, 2TradeAsia.com said oil prices could continue to cause volatility in the market.

Oil prices surged to seven-year high on Friday. Brent crude rose $2.16 or 2.4% to settle at $93.27 a barrel, Reuters reported.

“While in the grand scheme of things, crude’s sharp ascent may not factor into a surprise rate hike soon, it may still drive investor aversion against fuel and foreign exchange sensitive sectors and/or those that may not be able to fully pass on the higher fuel cost,” 2TradeAsia.com said.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the start of the campaign period for the May national elections on Feb. 8 could also affect sentiment.

“This may start the acceleration of election-related spending around the country that could boost economic activities, more employment, and consumer spending, which accounts for about 75% of the economy,” he said.

2TradeAsia.com put the PSEi’s support at 7,300 and resistance at the 7,500-7,600 levels. — M.C. Lucenio with Reuters

Lamborghini says ‘arrivederci’ to cars with purely combustion engines

PHOTO FROM LAMBORGHINI

FRESH FROM a year of record sales, Lamborghini accelerates its drive toward an electrified future as it stays on course in transitioning to hybrid power, and eventually to fully electric. This year will be the last one with Lamborghini featuring purely gasoline combustion engines.

The Sant’Agata Bolognese-based House of the Raging Bull last year outlined its road map to decarbonization of future models in a plan called “Direzione Cor Tauri” (Towards Cor Tauri). Cor Tauri references the logo chosen in 1963 by company founder Ferruccio Lamborghini. It is the brightest star in the Taurus constellation and represents Lamborghini’s vision of a future that is electrified but “always faithful to the heart and soul of the brand.”

The first phase of the plan started in 2021 and is set to continue this year. Lamborghini will pay tribute to its combustion engine era by launching special versions of its most significant models — like the V12-powered Lamborghini Countach LPI 800-4 announced in August 2021, and which just recently took to the road for the first time. Additional special versions are also slated for introduction this year.

In the second phase, to ensue from 2022 until the end of 2024, Lamborghini will transition to hybrid power plants. The company aims to launch its first hybrid production car in 2023, and to have its entire model range composed exclusively of hybrid models by the end of 2024. The company has earmarked an unprecedented investment of nearly US$2 billion over four years to support this shift to electrification, proving Lamborghini’s strong sense of environmental and social responsibility amid a period of profound transformation in the automotive industry.

Evolving from this is the third phase of the plan in which the first fully electric Lamborghini is targeted to launch in the second half of the decade, and to transform all Lamborghini models into full-electric vehicles afterwards. Along with this, the brand aims to introduce a fourth fully electric model before 2030.

Lamborghini’s program to 2030 also involves a sustainability strategy from the production line to the brand’s offices. The brand’s Sant’Agata manufacturing site, which has already received carbon-neutral certification in 2015, has maintained this position even after production capacity has doubled in size. Further reducing carbon emissions, environmental protection, sustainability in the supply chain, attention to employees’ welfare, and corporate social responsibility are parts of this strategy.

“Lamborghini’s electrification plan is a newly plotted course, necessary in the context of a radically changing world. Our response is a plan with a 360-degree approach taking us toward a more sustainable future while always remaining faithful to our DNA,” declared Automobili President and CEO Stephan Winkelmann.

Style (02/07/22)

Lucky in Love promo at Bonifacio High Street

Bonifacio High Street (BHS) in partnership with Globe, prepares their Lucky In Love promo for both Bonifacio Global City (BGC) customers and Globe subscribers this month of February. All weekdays of February, customers can redeem their Lucky In Love basket at the One Bonifacio High Street Concierge from noon to 8 p.m. This special basket is an exclusive gift of premium treats and goodies from BHS stores: a bottle of wine, chocolates, biscuits, cookies, and sweet treats from Marks & Spencer, a Muji 2022 planner and pen, and many more surprises. To receive the Lucky In Love basket, customers need to present single or accumulated purchase receipts of P5,000 from any of the merchants found at Bonifacio High Street and other places around the estate. As for Globe subscribers, they need to present P4,000 worth of single or accumulated purchase receipts from the BGC merchants to redeem theirs. Those interested in redeeming a Lucky in Love basket must come early as the baskets are limited. For more updates, visit the official Facebook page of Bonifacio High Street  at https://www.facebook.com/BoniHighStreet/.

Korean star-endorsed Hada Labo lines now in PHL

ONE cult J-beauty brand that Asian superstars like Blackpink’s Jisoo, Jun Ji Hyun, and Jeon Somi all use and love is Hada Labo. K-pop star and actress Jisoo has once revealed that she has dry skin, so she tends to choose nourishing and moisturizing products like the Shiro Jyun Arbutin Whitening Lotion. Meanwhile, Jun Ji Hyun, who’s best known for films like My Sassy Girl and her series My Love from the Star, was once the face of the OG Goku Jyun Hydrating Lotion which she said gave her bouncy, deeply hydrated skin. Jeon Somi, a Korean solo singer and a former member of the project girl group I.O.I who loves super moisturizing products, has been tapped to endorse the same Goku Jyun Hydrating Lotion. These Hada Labo products — the Hydrating Goku Jyun and the Premium Whitening Shiro Jyun line — are now available in the Philippines. The Goku Jyun Hydrating Lotion, Japan’s #1 face lotion, is infused with four types of Hyaluronic Acid to harness their water-binding power and hydrate skin from the surface to inner skin layers, locking moisture in. Meanwhile, the Shiro Jyun Premium Whitening Lotion contains Tranexamic Acid that effectively helps fight dark spots, rebalance skin tone, and restore skin radiance. It also contains Vitamin C and E to soothe and relieve discomfort after sun exposure. The lotion also has Hyaluronic Acid that prevents moisture loss and Nano Hyaluronic Acid that provides moisture deep down into the inner skin layers. Aside from the face lotions, both lines also have their own face wash and cream selections to complete a simple three-step routine. Hada Labo is available at selected Watsons branches nationwide, or shop online at watsons.com.ph and at the official Mentholatum store on Lazada and Shopee.

Y.O.U Beauty’s special Valentine’s gift box

STAY tuned to Y.O.U Beauty social media channels to find out how to win the Rouge Velvet Matte Lip Cream Limited Edition Valentine’s Gift Box . The Rouge Velvet Matte Lip Cream by Y.O.U. Beauty is made with a smooth and lightweight formula to ensure all-day comfort. Available in 19 different shades, each product has quick dry and non-transfer features that keep it in place after applying, while the hydrating formula made with coconut oil and Vitamin E moisturizes and softens lips and helps reduce the appearance of fine lines. The gift box comes in three distinct versions. There is the Best Sellers Bundle featuring a trio of timeless shades of lip cream: Naked, a discreet yet chic take on nude lip cream; Kelly, a classic red; and Latte, a deep and moody brown. There is the Date Night Bundle containing Honey, a red shade that strikes the balance between bold and bright; Fearless, a coral shade; and Salmon, a peachy hue. And finally there is The Daily Bundle which consists of Naked, Peach, and Latte lipsticks. As a special Valentine’s Day gift, Y.O.U Beauty is giving away Rouge Velvet Matte Lip Cream Limited Edition Valentine’s Gift Boxes. To find out how to win, visit Y.O.U Beauty on Facebook and Instagram for more details. The Rouge Velvet Matte Lip Cream product range is available online at the Y.O.U Beauty Lazada and Shopee stores.

Heart Evangelista curates Trunc.ph for February

IT’S definitely Heart’s month over at the SSI Group’s online shopping destination — Trunc.ph with its special guest, Heart Evangelista-Escudero. The fashion icon is taking over the multi-branded e-commerce luxury site featuring her favorite products from Trunc, Trunc Show, Trunc at Home, and PowderRoom. See her outfits-of-the-day, home hacks, make-up must-haves, and more by turning to Trunc.ph while taking advantage of exclusive promos and discounts for the entire February. More content is brewing over at trunc.ph with digital activities including Heart’s Trunc Haul on Feb. 11, 12, and 19. Trunc shoppers can get 10% off using the voucher code LOVETRUNC from Feb. 1 to March 31. The promo can be used multiple times with no minimum spend required. Meanwhile, customers can take advantage of Free-Shipping for purchases with a minimum spend of P7,500. This discount is auto-applied upon checkout and can be used multiple times. These promos may be used with other voucher codes for bigger discounts on regular, sale, and markdown items of select brands. Learn more at www.Trunc.ph or @Trunc.ph on Instagram and Facebook.

Agriculture companies sign up for post-ASF hog repopulation

REUTERS

THE Department of Agriculture (DA) said it has signed a partnership agreement with private companies seeking to participate in the hog repopulation effort following the reduction of the herd due to the outbreak of African Swine Fever (ASF).

JG Agroventures, Inc. and Pig Improvement Co., in cooperation with the DA, launched a 5,000-sow level breeder nucleus farm in Nueva Ecija on Feb. 5.

“We are initially committing P80 million for this laudable project,” Agriculture Secretary William D. Dar said in a statement.

The facility will be stocked with PIC great grandparent breeders, whose offspring or grandparent (GP) piglets will be sold and distributed to commercial and clustered backyard swine raisers in Luzon.

To fund the operation, JG Agroventures applied for a P2.5-billion loan with the Land Bank of the Philippines (LANDBANK).

“We envision JG Agroventures to supply the DA initially with 1,000 GP quality breeders for every farrowing, which we will distribute to commercial and clustered backyard swine raisers and farmers’ cooperatives and associations (FCAs),” Mr. Dar said.

The DA said it is also partnering with other agribusiness firms to aid in the revival of the swine industry, such as the Univet Nutrition and Animal Healthcare Co. and Charoen Pokphand Foods Philippines, Corp.

Charoen Pokphand invested in a P500-million swine breeder farm in Isabela and has committed to produce 600,000 fatteners.

By 2023, the DA hopes to produce 440,563 breeders and 10.5 million finishers under the hog repopulation program.

The department has allotted P800 million for lending to backyard and semi-commercial raisers.

LANDBANK and the Development Bank of the Philippines have pledged P30 billion and P12 billion, respectively, for lending to commercial raisers in ASF-free areas. — Luisa Maria Jacinta C. Jocson

How PSEi member stocks performed — February 4, 2022

Here’s a quick glance at how PSEi stocks fared on Friday, February 4, 2022.


Share of Filipinos’ food costs to net minimum wage rises

Share of Filipinos’ food costs to net minimum wage rises

Retailers back booster requirement for shoppers

RETAILERS expressed support for a proposal to require store visitors to present proof of having received a booster shot as a condition of entry, saying that such a measure will increase confidence in the public.

Steven T. Cua, Philippine Amalgamated Supermarkets Association (Pagasa) said in a mobile phone message that the proposed booster card requirement will ensure that consumers are aware of the need to take all measures needed to contain the coronavirus disease 2019 (COVID-19) pandemic.

“Pagasa agrees to this scheme to check on vaccination cards. It will, to certain extent, remind the people to sustain the attitude needed to deal with the pandemic, tone down crowded events, and help maintain a safer environment,” Mr. Cua said.

Mr. Cua said the proposal is best implemented in areas with high vaccination rates.

“It is wise to consider administering this only in areas where a high volume of shots have been provided by government to make this policy practicable and not anti-poor,” Mr. Cua said.

In a mobile phone message, Philippine Retailers Association (PRA) President Rosemarie B. Ong said such a measure will help boost confidence among consumers.  

“(The proposal) will give more confidence as mobility increases,” Ms. Ong said.

Mr. Cua said there may be some downsides to the proposed booster card requirement if the COVID-19 pandemic lingers on.

“Guards or checkers (may not pay attention to) the ‘validity’ of booster cards if the pandemic situation carries on for some time and another series of booster shots is due. Guards monitoring these cards must (also) be well-oriented,” Mr. Cua said.  

Recently, Presidential Adviser for Entrepreneurship Jose Ma. A. Concepcion III said that booster cards should be required for entry in establishments within high-vaccination zones such as the National Capital Region (NCR).

Mr. Concepcion said booster shots are needed to maintain protection against COVID-19 since the original doses’ efficacy declines within four to six months after the last dose.

“The reality is that the vaccine’s efficacy will wane and we don’t want to risk seeing more cases that could easily have been prevented by encouraging people to get boostered,” Mr. Concepcion said.

“The booster card requirement makes sense in the NCR because they received their primary doses ahead of the rest of the Philippines. However, they are also at higher risk from waning immunity and must be encouraged to get their booster shots right away,” he added.

Currently, only vaccination cards are required for entry into public spaces. — Revin Mikhael D. Ochave

Manila Bay rehab seen inadequate; bay unswimmable, fishery unhealthy

PHILSTAR

By Luisa Maria Jacinta C. Jocson

THE Department of Environment and Natural Resources (DENR)-led effort to rehabilitate Manila Bay has been hindered by the department’s inadequate enforcement of environmental law, an ocean conservation group said.

“The current efforts to rehabilitate Manila Bay are inadequate as we have yet to see a natural transformation of the bay into a safe, swimmable and healthy fisheries ecosystem,” Oceana Philippines Vice-President Gloria E. Ramos said in an e-mail interview.

“While agencies like the Department of the Interior and Local Government (DILG) have rolled out mechanisms to ensure compliance with fisheries law by local government units surrounding the bay through the Fisheries Compliance Audit, and the Bureau of Fisheries and Aquatic Resources (BFAR) has continued to abide by its mandate to protect fisheries and aquatic resources by refusing to give clearance to dump-and-fill and seabed quarrying projects in Manila Bay, we have yet to see an honest-to-goodness implementation of environmental law by the DENR,” Ms. Ramos said.

The DENR has been tasked to address the bay’s ecological issues, including managing fecal coliform levels in the water and enforcing sewage treatment rules.

Oceana said the department’s Dolomite sand beach project was “unsustainable and artificial” and noted that the issuance of environment compliance certificate for reclamation and seabed quarrying projects remain “unabated.”

“Manila Bay spans 199,400 hectares with a coastline that runs through several provinces. It has been a witness to battles that changed the course of our country’s history. Now it is battling an environmental war against dump-and-fill projects hiding behind the promise of development,” Ms. Ramos said.

According to the Philippine Reclamation Authority, there are 26 dump-and-fill projects along Manila Bay in varying stages of development.

“There is a massive reclamation project in Bulacan for the so-called New Manila International Airport that will impact 2,500 hectares of wetlands, including mangroves and other coastal habitats,” she said. “These lead to irreversible damage and threats to fragile ecosystems in the bay, such as sardines, wetlands, mangroves and other marine habitats that still exist in Manila Bay. More importantly, there will be massive losses of fishing grounds for subsistence fishers, flooding, storm surge and increased vulnerability to climate change impacts.”

Ms. Ramos said that future initiatives by the DENR should line up with the National Economic and Development Authority (NEDA)’s Manila Bay Sustainable Development Plan.

“This is a long-term vision that is consistent with the writ of continuing mandamus and ensures the restoration of this important marine ecosystem to reduce the risks to communities living around the bay against present threats like flooding and future threats of climate change,” she said.

“Coastal local government units should prioritize their mandate of protection of municipal waters and implementation of environmental laws. Toward this end, LGUs should mainstream honest-to-goodness public participation and seriously integrate the impacts of climate change in all their programs, activities and projects,” she added.

The DENR said that it is gearing up to continue its rehabilitation program in 2022, despite setbacks last year due to natural hazards and the pandemic.

“I am especially pleased with our transformation of Manila Bay. We should be more appreciative of what we have achieved thus far, despite the challenges posed by the pandemic and natural disasters over the past couple of years,” DENR Secretary Roy A. Cimatu said in a statement.

“Our sewage treatment plants in three outfalls are reducing fecal coliform counts significantly in the bay’s water. Along with solar-powered restrooms and other geo-engineering interventions, our work will enable the public to enjoy swimming, boating, and fishing in the bay, hopefully by the end of my term this midyear, in addition to strolling on the dolomite beach,” he added.

DENR Assistant Secretary for Field Operations Gilbert C. Gonzales said that the department’s regional offices hired 2,379 rangers to conduct daily cleanup and have collected 82 million cubic meters of waste so far.

The DENR-National Capital Region (NCR), where the concentration of the rehabilitation program is being conducted, had the largest amount of waste collected at around 72 million cubic meters.

A total of 249 trash traps were also installed to control the outflow of garbage from the tributaries to Manila Bay. Region III has installed 223 trash traps,  followed by Region IV-A with 16, and the NCR with 10.

“These are the immediate measures that were introduced by the three regions to be able to address the garbage that flows out to the Manila Bay,” Mr. Gonzales said.

Philex’s Pangilinan calls for separate regulation of mining, environment

MANUEL “MANNY” V. PANGILINAN

PHILEX Mining Corp. Chairman Manuel V. Pangilinan said the regulation of the mining industry must be separate from environmental protection, functions currently carried out by bureaus of the Department of Environment and Natural Resources.

“In that regard, structures must be amended because under the department are two important agencies, the Environmental Management Bureau (EMB) and the Mines and Geosciences Bureau (MGB). You’ve got two agencies whose functions are self-contradictory: having to safeguard the environment but also promote mining,” Mr. Pangilinan said in a television interview.

“In the United States, the environmental protection agency is separate from the mining regulators so there’s still check and balance,” he added.

Mr. Pangilinan called for “better regulation of mining companies, including small miners,” following a nickel mine spill that discolored and silted rivers in Davao Oriental.

“We have to ensure the regulators are well-funded and better-educated. If the mining industry has to support that and fund the regulators, then so be it. We should support it. The more informed the regulators are, the more safeguards are adopted. That should be welcomed by the industry,” he said.

With the upcoming change in administration, Mr. Pangilinan said that he is hopeful but still cautious about the outlook of the industry.

“From what I could gather, most of the (candidates) are showing a liberal view of mining. So that’s good news, and if that follows through in terms of actual policy and the view of the new government on mining, then that would be great development for the industry,” he said.

“Whether that will eventuate on June 30 onwards, I don’t know. Something always happens,” he added, referring to the new government’s takeover date.

On Dec. 23, the government lifted the four-year ban on open-pit mining, repealing the order issued by the late Environment Secretary Regina L. Lopez, an anti-mining advocate.

“I’m not really sure if the ban will stay lifted, because ahead of us is a new government, and will the new government maintain this policy? We don’t know,” Mr. Pangilinan said.

Philex is currently developing its Silangan copper-gold project in Surigao del Norte but said it will be opting for the sub-level caving method over open-pit mining.

“We will lose a lot of time if we revert to open-pit method. We don’t want the headache of uncertainty ahead of us,” he said.

Mr. Pangilinan said that moving forward, the mining industry must prove its sustainability and benefit to society and the economy.

“To a degree, mining has been at fault as there have been unfortunate events, like the Marcopper incident in 1996, that’s one of the big pollution events to happen in history. There are also probably instances of pollutants being thrown to rivers and oceans,” he said.

“It’s so easy to demonize mining and the business itself has to demonstrate that it can be prosecuted safely. Outside the Philippines, there are much bigger mines that operate and by and large, they’ve done reasonably well in terms of protecting the environment. We must also have the proper practices in order to do the same,” he added. — Luisa Maria Jacinta C. Jocson

PCCI, DICT to conduct pilot test of satellite internet system

REUTERS

THE Philippine Chamber of Commerce and Industry (PCCI) said it has entered into a partnership with the Department of Information and Communications Technology (DICT) and private service providers to conduct a pilot test of satellite internet systems in remote parts of the country.

The PCCI said there will be six test areas, which have yet to be selected.  

“(The partnership) agreed that the satellite project should not only benefit micro, small, and medium enterprises (MSMEs) but more so the local government units (LGUs), local clinics, and public schools. Multiple sectors can likewise experience dramatic impacts, such as agriculture, finance, tourism, and telehealth,” the PCCI said in a statement.

PCCI President George T. Barcelon said connectivity is a basic requirement for any economic recovery, and could be a tool for attracting more tourism and investment.  

“As we transition out of the coronavirus disease 2019 (COVID-19) pandemic, remote work and internet-enabled services in education, health, trade and supply chain management and even government services could remain the norm where possible. In this regard, we need to scale up our digital infrastructure,” Mr. Barcelon said.

DICT Undersecretary Jose Arturo C. de Castro said the government is building so-called digital highways to boost economic activity.

“Because of our topography, internet over satellite is one of the best and fastest ways for us to leapfrog into the future of digital connectivity,” Mr. De Castro said.

According to a 2019 national survey by the DICT, 88% of barangays do not have access to free Wi-Fi, 60% have no cellular towers, and 60% have no access to fiber optic cable.  — Revin Mikhael D. Ochave 

Lack of system to monitor commercial fishing vessels seen disadvantaging small fishermen

PHILSTAR FILE PHOTO

FISHERIES stakeholders said the Department of Agriculture (DA) needs to find a way to track the fishing fleet after a court ruling against a requirement that the commercial fishing industry install Vessel Monitoring Systems (VMS).

“We are alarmed that intrusion of commercial fishing vessels in municipal waters remains pervasive due to slow implementation of measures that are in the Philippine Fisheries Code, as amended by Republic Act (RA) No. 10654,” according to Gloria E. Ramos, vice-president of Oceana, an ocean conservancy group.

The Malabon City Regional Trial Court (RTC) recently declared Fisheries Administrative Order (FAO) No. 266 unconstitutional. FAO No. 266 requires VMS installation. The VMS systems form part of the Bureau of Fisheries and Aquatic Resources (BFAR)’s Integrated Marine Environment Monitoring System.

“We waited for five years for the rules on vessel monitoring measures to apply to all commercial fishing vessels to be issued. We will not allow continuous neglect even as we know that our poor artisanal fisherfolk suffer because our fisheries resources are pillaged by the illegal intrusion of commercial fishing in municipal waters,” she added.

Kasama po ako sa National Fisheries and Aquatic Resources Management Council (NFARMC) at tinalakay namin… ang pagpapatupad ng vessel monitoring measures. Walang kwenta ang aming pag-uusap kung papabayaan lang ito at hindi ipapatupad (I was part of the NFARMC, where we discussed and passed the vessel monitoring measures. It seems like our discussions were pointless, because they were not rolled out),” according to Romeo Gupong, a fisherfolk leader and Fisheries Management Area 7 representative.

The fisheries stakeholders called on the upholding of preferences for fisherfolk in municipal waters.

“The vessel monitoring system is an important tool to ensure that commercial fishing operators do not enter municipal waters,” Mr. Gupong said.

Only 257 commercial fishing vessels registered under the jurisdiction of Malabon and Navotas are covered by the order of the Malabon Regional Trial Court, according to Oceana, citing data from the BFAR.

“This is only 5% of the total 3,0775,156 commercial fishing vessels nationwide that should have vessel monitoring systems as required in the Fisheries Code, as amended, and as ordered in FAO No. 266,” Oceana said.

“We join the fisherfolk groups in calling on Agriculture Secretary William D. Dar and BFAR Director Eduardo B. Gongona to comply with their duty to implement the law, protect our municipal water and our municipal fisherfolk,” Ms. Ramos said.

Mahabang panahon nating pinaglaban ang RA No. 10654 pero ginagawa pa rin nila ang lahat ng paraan para tayo maisahan. Labanan natin ito at huwag nating hayaang mapunta sa wala ang pangangalagang ginawa natin sa municipal waters. (We have been fighting for RA 10654 for a long time, but they have done everything to put one over us. We must continue to fight to ensure that our stewardship of municipal waters does not go to waste),” according to Pablo R. Rosales, chairman of PANGISDA, a fisherfolk organization. — Luisa Maria Jacinta C. Jocson