DBP sells $300 million in global bonds to refinance debt maturing this month

March 11, 2021 | 12:01 am

THE Development Bank of the Philippines sold $300 million in 10-year global bonds to refinance debt falling due this month. — BW FILE PHOTO

STATE-RUN DEVELOPMENT Bank of the Philippines (DBP) sold $300 million in 10-year global bonds to refinance its current obligations set to mature this month, the Department of Finance (DoF) said on Wednesday.

The DoF said in a press release that the bond refinancing offer was priced at the current rate of 10-year US Treasury notes plus 97.5 basis points (bps), lower than the previous rate of plus 225 bps when the securities were first offered in 2011. The statement cited a report from JPMorgan, which was among the joint lead managers and bookrunners of the transaction.

DBP’s debt notes were priced on March 2 following a global roadshow the day prior. The offering received strong demand, according to JPMorgan’s report.

“While investors had initially exhibited price sensitivity due to the volatility in rates, the transaction was eventually priced at T+97.5 bps to yield 2.421%, which represents a premium of approximately 32.5 bps over the implied fair value of the Philippine sovereign at the time of issuance,” the report read.

The DoF said the offering marked the first dollar-denominated bond sale in the country for the year. It was also the first Southeast Asian bank to tap the global bond market for 2021.

JPMorgan noted that the rate fetched was a “big win” for the state-run lender amid the high volatility in the financial markets and huge swings of US Treasury yields.

Credit rating Fitch Ratings last week gave an expected rating of “BBB” to the issuance, citing the bank’s “strategic policy role, full state ownership, systemic importance as the second-largest state-owned bank in the Philippines.”

The rating was at par with the “BBB” sovereign rating of the Philippines, which was affirmed by the debt watcher in May.

DBP last year raised P21 billion in two-year peso-denominated bonds at a coupon of 2.5%.

The bank’s net income went down by 26.69% year on year to P3.24 billion from January to September 2020. DBP attributed the lower profit to increased loan loss provisions amid the coronavirus pandemic. — B.M. Laforga

Verkada surveillance cameras at Tesla, hundreds more breached

March 11, 2021 | 12:01 am

A SMALL GROUP of hackers viewed live and archived surveillance footage from hundreds of businesses including Tesla, Inc. by gaining administrative access to camera maker Verkada over the past two days, one of the people involved in the breach told Reuters.

Swiss software developer Tillie Kottmann, who has gained attention for finding security flaws in mobile apps and other systems, shared screenshots on Twitter from inside a Tesla warehouse in California and an Alabama jail in messages to Reuters. Kottmann declined to identify other members of the group.

Kottmann said they sought to draw attention to the pervasive monitoring of people after having found login information for Verkada’s administrative tools publicly online this week.

Verkada acknowledged an intrusion, saying it had disabled all internal administrator accounts to prevent unauthorized access.

“Our internal security team and external security firm are investigating the scale and scope of this issue, and we have notified law enforcement” and customers, the company said.

Kottmann said Verkada cut off the hackers’ access hours before Bloomberg first reported the breach on Tuesday.

The hacking group, if it had chosen, could have used its control of the camera gear to access other parts of company networks at Tesla and software makers Cloudflare, Inc. and Okta, Inc., according to Kottmann.

Tesla, Cloudflare, and Okta did not immediately respond to requests for comment.

A list of Verkada user accounts provided by the hacking group and seen by Reuters includes thousands of organizations, including gym chain Bay Club and transportation technology startup Virgin Hyperloop.

Reuters could not independently verify the authenticity of the list or screenshots distributed by Kottmann, but they included detailed data and matched other materials from Verkada.

Madison County Jail in Alabama, Bay Club and Virgin Hyperloop did not respond to requests for comment.

Verkada says on its website it has over 5,200 customers, including cities, colleges and hotels. Its cameras have proved popular because they pair with software to search for specific people or items. Users can access feeds remotely through the cloud.

In a 2018 interview with Reuters, Chief Executive Filip Kaliszan said Verkada had deliberately made it easy for many users at an organization to watch live video feeds and securely share them, such as with emergency responders.

Verkada has raised $139 million in venture capital, with the latest financing announced a year ago valuing the Silicon Valley startup at $1.6 billion.

Verkada drew scrutiny last year after Vice reported that some employees had used company cameras and its facial recognition technology to take and share photos of female colleagues. Kaliszan later described the behavior as “egregious” and said three people had been fired over the incident. — Reuters

Hotel News (03/11/21)

March 11, 2021 | 12:01 am

Seda offers ‘Back-to-Manila’ quarantine package

EXPECTING friends and family from abroad? Seda hotels now offer a quarantine stay package. Within the premises, a comprehensive range of safety and prevention measures are in place to help visitors feel assured and well-cared for throughout their stay while experiencing the best of Filipino hospitality. They can choose from Seda’s various hotels in Metro Manila, all situated in Ayala Land’s master planned mixed-use developments: Seda BGC, Taguig (P4,800 net per night for a Deluxe Room); Seda Residences Makati, (P4,500 net per night for a Studio Deluxe Residence with a kitchenette); and Seda Vertis North, Quezon City (P4,500 net per night for a Deluxe Room). Inclusions are set breakfast, lunch, and dinner, and complimentary WiFi. Three days advance reservation is required, while a minimum number of nights may be required based on government guidelines. Rates quoted are inclusive of service charge and applicable taxes. Facilities may vary by property. Available facilities/services/amenities and operations are subject to national and local government community quarantine and safety guidelines. Package valid up to May 31.

Intimate weddings at City of Dreams

CITY of Dreams Manila has launched a new wedding package meant to deliver dream weddings that are intimate yet subtly grand, crafted in accordance with the government’s guidelines on health and safety. The luxury resort’s 2021 Intimate Dream Wedding Package, offers a choice of three venues to suit the size of the wedding reception: the Grand Ballroom, Nobu Manila restaurant, and Wave, the open-air poolside restaurant. While the number of guests allowed are kept down to 30% capacity of the venue for social gatherings (up to 50 people in Nobu and 200 people in the ballroom) to observe physical distancing, the details and experience the package provides are tailored for couples. For a reception of 50 people in the ballroom (P508,888 nett) comes with the option to add P2,500 nett for every additional guest. The package includes: a four-course plated menu, with a choice of Nobu Manila menu or other menus prepared by the luxury resort’s chefs; a custom three-layered modern-day naked cake by Naked Patisserie; accommodations at Nobu or Hyatt Regency hotels for an overnight stay in two rooms for the bride and groom, each with breakfast for two the night before the wedding, where they can stay with a family member to help them in preparations, and another overnight stay with breakfast for two for the couple after the wedding. The package also provides a custom-made bridal gown and three-piece groom suit from Simply Francis Libiran Collection, inclusive of one meeting with the designer, three fitting sessions, and wardrobe assistance on the day of the wedding. City of Dreams Manila’s Intimate Dream Wedding Package also has a photo and video package inclusive of the services of one photographer and one videographer, an edited video, and unlimited photos stored in a USB by Nice Print Photography. Completing the package is a venue styled by Jo Claravall, who offers the following: a choice of either a thematic backdrop or photo wall, the bridal bouquet and boutonniere for the groom, one VIP table set-up, a cake display table, and a set-up for 10 guest tables. For a reception below 50 people in Nobu, a customized menu of plated courses will be offered, while lighter courses befitting the outdoor vibe are offered at Wave. In keeping with the government’s coronavirus disease 2019 (COVID-19) guidelines, all guests have to fully accomplish the health declaration form, and comply with mandatory wearing of face masks and face shields, and temperature checks among other health and safety protocols observed in City of Dreams Manila’s “Play it Safe” campaign. For inquiries, call 8800-8080 or e-mail events_inquiry@cod-manila.com or visit www.cityofdreamsmanila.com.

Nüwa Manila, Nüwa Spa get 5 stars from Forbes Travel Guide Awards

NÜWA at City of Dreams Manila once again received two Five Stars in the 2021 Forbes Travel Guide (FTG) Awards for the hotel and its spa. The awards follow close on the heels of Nüwa being named one of the first hotels in the world to achieve the Sharecare Health Security VERIFIED with Forbes Travel Guide certification, a comprehensive facility verification for compliance with expert-validated best practices on health and safety protocols. “These 2021 award winners are a testament to the resiliency of the hospitality industry,” said Filip Boyen, CEO of Forbes Travel Guide. “During an unprecedented time, these top properties adapted to numerous adversities all while maintaining high service levels and ensuring the health security of their guests and staff.” The properties in the 2021 list were inspected prior to the pandemic and when regional restrictions allowed for the safe return of guests. The recognition contributes to the collective total of 97 stars achieved by Melco Resorts & Entertainment’s portfolio of integrated resort properties in Macau and Manila. Nüwa Manila and Nüwa Spa maintained their Five-Star rating for the fourth and second consecutive year, respectively since 2018. The global rating system for luxury hotels, restaurants, and spas also recognized the two other hotels in City of Dreams: Hyatt Regency Manila and Nobu Hotel Manila with Four Stars for four years running. For more information on Nüwa Manila, call 8800-8080 or visit www.cityofdreamsmanila.com or www.nuwamanila.com.

Marco Polo Ortigas, Manila announces new General Manager

COMING from its recent announcement of its fifth consecutive Forbes Travel Guide Five-Star award, Marco Polo Ortigas Manila recently announced the appointment of experienced hotelier Colin Healy as its General Manager. Mr Healy takes over from long-time hotelier Frank Reichenbach who retired in September 2020. Mr. Healy was previously assigned to lead the Marco Polo Davao in 2019. His professional journey has spanned over 33 years. It has seen him develop his management skills from his beginnings from a strong culinary background to Food and Beverage and into hotel operations, then eventually taking the helm at some of the world’s more respected international hotel brands in Europe and Asia. “Having worked with the Marco Polo Ortigas Manila team for several months has been an enriching experience for me thus far especially under the extraordinary conditions we find ourselves in as a global industry,” Mr. Healy said in a press statement. “It is often said that it is only in darkness can one see the value of light. And I look forward to more opportunities to illuminate the great work as we continue to do in the pursuit of service excellence,” he added.

FDI inflows drop to five-year low in 2020

March 11, 2021 | 12:00 am

FOREIGN direct investments (FDI) to the Philippines slid to a five-year low in 2020, as the coronavirus pandemic drove investors toward safe havens. Read the full story.

Philippines’ freedom score continues to decline amid pandemic

March 11, 2021 | 12:00 am

How PSEi member stocks performed — March 10, 2021

March 11, 2021 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Wednesday, March 10, 2021.

Peso weakens as COVID-19 case tally climbs

March 10, 2021 | 9:00 pm

THE PESO retreated against the greenback on Wednesday amid cautious sentiment due to the continued increase in new coronavirus disease 2019 (COVID-19) infections.

The local unit closed at P48.60 per dollar yesterday, depreciating by 13 centavos from its P48.48 finish on Tuesday, data from the Bankers Association of the Philippines showed.

The peso started Wednesday’s trading session at P48.45 against the dollar. Its weakest showing was at P48.69 while its intraday best was at P48.43 versus the greenback.

Dollars that changed hands increased to $1.015 billion from $890.25 million on Tuesday.

Risk-off sentiment amid rising infection cases likely caused the peso’s weakness on Wednesday, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The Department of Health reported 2,886 new patients on Wednesday, bringing the country’s tally to 603,308. Active cases reached 44,470 while deaths hit 12,545. With infections rising, more barangays have been put under localized lockdowns to contain the virus spread.

Meanwhile, a trader attributed the peso’s depreciation versus the dollar to cautiousness ahead of the release of US inflation data.

“The local currency might appreciate should US bond rates increase from the consumer inflation report,” the trader said in an email.

Mr. Ricafort expects the local unit to move within the P48.55 to P48.65 levels on Thursday while the trader gave a forecast range of P48.50 to P48.70 per dollar. — L.W.T. Noble

Shares rise on last-minute buying, easing cases

March 10, 2021 | 9:00 pm

SHARES inched up on Wednesday on last-minute buying as the country reported a slightly lower daily number of new coronavirus disease 2019 (COVID-19) infections, which slightly eased investor concerns.

The Philippine Stock Exchange index (PSEi) climbed by 41.49 points or 0.61% to close at 6,808.32 on Wednesday, while the all shares index moved up by 3.4 points or 0.08% to finish at 4,078.35.

“The PSEi recovered further as buyers picked up shares of companies that took a beating at the beginning of the week. The sentiment improved slightly, as panic selling was calmed by the fact that new COVID-19 cases came in below the 3,000 mark [on Tuesday],” AAA Southeast Equities, Inc. Research Head Christopher John J. Mangun said in an e-mail.

“The slow recovery in employment for the month of January, emphasized the importance of not returning to a hard lockdown,” Mr. Mangun added.

Preliminary results of Philippine Statistics Authority’s January 2021 round of the Labor Force Survey (LFS) showed around 3.953 million unemployed Filipinos, up from 3.813 million in October 2020 and 2.391 million in January 2020.

This put the unemployment rate at 8.7% in January, unchanged from October 2020 but higher than 5.3% in January 2020.

“The market closed at its intraday high… only due to last-minute buying. Negative sentiment still seems to be more prevalent amid the unchanged unemployment rate, and the spike in inflation and daily COVID-19 cases,” AB Capital Securities, Inc. Junior Equity Analyst Lance U. Soledad said in a Viber message.

Philstocks Financial, Inc. Research Associate Claire T. Alviar meanwhile said the market gained to follow Wall Street’s lead.

“The US markets climbed on the back of the decline of US bond yields as well as the positive sentiment towards the $1.9-trillion fiscal stimulus plan, providing positive sentiment in the local market,” Ms. Alviar said in a Viber message.

Most sectoral indices went up on Wednesday except for financials, which declined by 15.18 points or 1.05% to 1,422.69 and mining and oil, which dropped 88.64 points or 1.03% to 8,515.69.

Meanwhile, holding firms rose by 96.24 points or 1.37% to close at 7,082.36; services increased by 13.04 points or 0.89% to 1,471.98; property went up by 11.56 points or 0.34% to 3,374.64; and industrials improved by 19.37 points or 0.22% to 8,675.99.

Value turnover went down to P11.07 billion on Wednesday with 9.14 billion shares switching hands, from the P19.02 billion seen on Tuesday.

Decliners outnumbered advances, 155 against 72, while 34 names closed unchanged.

Net foreign selling slowed to P78.87 million on Wednesday from P10.55 billion on Tuesday.

“For this week, we expect the index to trade between 6,700 and 6,900 on lack of positive catalyst, as vaccine rollout optimism seems to be waning,” AB Capital Securities’ Mr. Soledad said. — Keren Concepcion G. Valmonte

Gov’t can’t meet daily vaccine goal due to supply constraints

March 10, 2021 | 7:38 pm

THE PHILIPPINE government has been unable to vaccinate at least 250,000 Filipinos daily to meet its 50-million goal this year due to supply problems, according to the country’s deputy chief enforcer of anti-coronavirus efforts.

“The target is roughly 250,000 to 300,000 a day, but it will depend on the supply that we get,” Vivencio B. Dizon, National Task Force Against COVID-19 deputy chief Implementer, told a televised news briefing in mixed English and Filipino on Wednesday.

The government could hit the daily goal once the bulk of vaccines arrive, he added.

The government had only inoculated about 36,000 people as of Mar. 7 since it started its vaccination drive this month, presidential spokesman Herminio L. Roque, Jr. said on Tuesday.

Vaccine czar Carlito G. Galvez, Jr. earlier said the main volume of vaccines bought from drug makers and secured under a global initiative for equal access would arrive by the third and fourth quarters.

President Rodrigo R. Duterte has said Manila was having difficulty getting more vaccine supplies, citing problems in the global supply chain. Rich countries were being prioritized by drug makers, he said.

With a gross domestic product (GDP) per capita of $9,471, the Philippines ranked 76^th among the poorest countries last year.

But poorer nations such as Bangladesh, Cambodia and Còte d’Ivoire, with a GDP per capita of $5,028, $4,664 and $4,457, respectively, got their vaccines before the Philippines, according to the website Our World in Data.

The Chinese government earlier donated 600,000 doses of CoronaVac made by Sinovac Biotech Ltd.

The Philippines on Mar. 4 also took delivery of 487,200 vials of the vaccine developed by British drug maker AstraZeneca Plc. Almost 40,000 more doses arrived on Mar. 7.

The vaccine doses were secured under the World Health Organization (WHO)-led COVID-19 Vaccines Global Access (COVAX).

A million more doses of CoronaVac are expected to arrive this month under a P700-million purchase deal with Sinovac.

Manila will take delivery of about 117,000 vials of the vaccine developed by Pfizer, Inc. under COVAX by April, Mr. Dizon said.

The first batch of Pfizer doses was due to arrive in February but was delayed after the government failed to submit documents freeing the drug maker from potential lawsuits.

Mr. Dizon said the government seeks to vaccinate about 3.5 million health workers by May.

TALLY
The Department of Health (DoH) reported 2,886 coronavirus infections on Wednesday, bringing the total to 603,308.

The death toll rose by 17 to 12,545, while recoveries increased by 221 to 546,293, it said in a bulletin.

There were 44,470 active cases, 91.7% of which were mild, 4% did not show symptoms, 1.7% were critical, 1.7% were severe and 0.8% were moderate.

The agency said four duplicates and two cases found to be negative had been removed from the tally, while four recovered cases were reclassified as deaths. Five laboratories failed to submit data on Mar. 9.

About 8.6 million Filipinos have been tested for the coronavirus as of Mar. 8, according to DoH’s tracker website.

The coronavirus has sickened about 118.2 million and killed more than 2.6 million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization.

About 93.9 million people have recovered, it said.

Meanwhile, the Health department said the P.1 coronavirus variant from Brazil had not been detected in 3,420 samples.

“We would also like to clarify that a common variant identified among our sequenced samples was of Brazilian origin (B.1.1.28) but not a variant of concern,” it added.

This came after Quezon City Mayor Maria Josefina G. Belmonte told a news briefing on Wednesday that a Brazilian variant had been detected in Quezon City.

The P.1 variant, a branch off the B.1.1.28 lineage, has mutations that affect transmissibility, according to the website of the US Centers for Disease Control and Prevention. — Kyle Aristophere T. Atienza and Vann Marlo M. Villegas

Human Rights Watch seeks UN probe of recent police killings

March 10, 2021 | 7:37 pm

THE UNITED Nations (UN) should investigate the worsening human rights situation in the Philippines, where more than a dozen members of left-leaning groups got arrested and killed by police this month, according to Human Rights Watch.

Phil Robertson, deputy Asia director at the global rights watchdog, urged the UN Office of the High Commissioner for Human Rights to consider sending a rapid response unit to Manila to probe the killings.

“The Southern Luzon raids were apparent politically motivated killings that the police and military have sought to justify with unconvincing justifications that echo ‘drug war’ claims,” he said in a statement on Wednesday.

“UN member states should see through this deadly deception and press for international action that would hold the Duterte administration to account,” he added.

Nine activists were killed and six others were arrested during separate raids by police in the provinces of Laguna, Batangas, Cavite, and Rizal on Mar. 7. Civil society groups have accused authorities of using warrants to harass critics.

The crackdown on activists came after President Rodrigo R. Duterte ordered state forces to “finish off” and “kill” communist rebels and “ignore human rights.”

Philippine National Police spokesman Brig. Gen. Ildebrandi N. Usana earlier claimed the victims had guns and resisted arrest.

M. Robertson said police have used the excuse in the government’s deadly war on drugs.

“Philippine security forces have a long history of unlawful killings, enforced disappearances and arbitrary arrests of leftist activists, human rights defenders and others,” he said.

“The victims in all of these raids belonged to groups that the government had earlier red-tagged, accusing them of being communist guerrillas or their supporters,”he added.

Justice Secretary Menardo I. Guevarra said the UN must have enough information before making a judgment.

“These incidents will be investigated either by the National Bureau of Investigation or by the Administrative Order 35 committee on extrajudicial killings,” he said in a statement.

More than half of thousands of police anti-drug operations under Mr. Duterte violated rules of engagement, Mr. Guevarra told the United Nations Human Rights Council last month.

Police claimed suspected drug pushers were killed after they resisted arrest, he said in a video message at the seventh meeting of the council’s 46^th regular session.

Police also did not conduct a full examination of the weapons recovered from the raids, Mr. Guevarra said, citing the initial results of a government investigation.

Still, he rejected any attempts by the international community to meddle in Philippine affairs.

Meanwhile, the Commission on Human Rights said police claims of suspects resisting arrest need evidence.

Commissioner chief Gwen Pimentel-Gana said access to police records was a “recurring obstacle” in the independent body’s investigations of human rights violations

“This restriction makes it difficult to ascertain the veracity of police claims, as well as the extent of effort extended in investigating deaths said to be not related to law enforcement operations,” she said in a statement.

“We continue to urge the public to ask the government to do more and better in reducing the violence on the ground and in respecting the human dignity of every individual,” she added.

At least 188 activists and community organizers have been killed under the Duterte administration, human rights group Karapatan said last year. — Kyle Aristophere T. Atienza and Bianca Angelica D. Añago

Senate bill mandates refund for internet service disruptions

March 10, 2021 | 7:36 pm

A SENATOR has filed a bill requiring telecommunication companies and internet service providers to give a refund for service disruptions.

These service interruptions affect business and commercial transactions, online classes and even Senate hearings, said Senator Manuel M. Lapid, who filed Senate Bill 2092.

The measure will amend the Public Telecommunications Policy Act of the Philippines.

He also said consumers pay their bills without adjustments or refunds despite frequent service disruptions.

“They are paying for a service that they have not enjoyed or used for hours, if not days through no fault on their part,” he said in the bill’s explanatory note.

Under the bill, internet service providers and telecommunication companies must provide a pro-rated refund credit or adjust the bill of a customer who experienced service interruptions for a total of at least 24 hours or more in a month. The refund should also apply to prepaid subscribers.

The refund or adjustment in the bill should be automatically implemented without the need for a request from the customer, he said. — Vann Marlo M. Villegas

Nationwide round-up (03/10/21)

March 10, 2021 | 7:36 pm

SC tallies cases involving attacks on lawyers, judges

THE Supreme Court (SC) has ordered lower courts to provide information on all pending cases involving attacks on judges, prosecutors, and lawyers in the country as part of the response to address growing concern on the safety of members of the judicial sector. The high court issued a circular on Tuesday instructing judges of first and second level courts to accomplish an online nationwide survey on criminal cases relating to the harassment, threats, attack, and killing of those in the legal profession. The circular, signed by Court Administrator Jose Midas P. Marquez, aims to make an inventory of such cases, including lawyers in private practice. This survey, with a Mar. 19 deadline, is in line with the memorandum of Chief Justice Diosdado M. Peralta in January directing the Office of the Court Administrator “to address the growing concern over the continued attacks against lawyers and judges.” Lawyers’ groups Integrated Bar of the Philippines and the National Union of People’s Lawyers (NUPL) have been making appeals to address the security of lawyers. According to NUPL, at least 54 lawyers and judges have been killed since the Duterte administration started in 2016. — Bianca Angelica D. Añago

Only 11% pass 2020 Shari’ah Bar exam, lowest in 37 years

OF the 654 examinees for the 2020 Shari’ah Bar exams, only 71 or 10.86% passed, the Supreme Court announced Tuesday. Court of Appeals Justice Japar B. Dimaampao, chair of last year’s Shari’ah Bar examination committee, said the result “will go down in history as the second lowest passing percentage” since 1983 when 14 out of 182 examinees, or 7.69%, passed. The topnotcher of the 2020 examination is Mohammad Hisham M. Mocsir with a score of 87.075%. Shari’ah Courts, which are under the supervision of the Supreme Court, handle cases involving Islamic beliefs. The establishment of these courts is in line with the Philippine Constitution, which provides that, “The State shall consider the customs, traditions, beliefs and interests of national cultural communities in the formulation and implementation of state policies.” — Bianca Angelica D. Añago

OWWA says additional funds needed to cover quarantine costs of OFWs

THE Department of Labor and Employment (DoLE) has asked the national government for additional funds to cover the quarantine costs of returning overseas Filipino workers (OFWs) following new protocols on the isolation period. Overseas Workers Welfare Administrator Hans Leo J. Cacdac said the P6.2-billion allocation for the hotel, COVID-19 swab test, transport, and food of returning OFWs might be depleted soon. “We project by April or May, maubos ang 2021 budget na (we might finish the 2021 budget),” he said in a virtual briefing on Wednesday. He explained that the new protocol issued as precautionary measure against the new coronavirus disease 2019 (COVID-19) variants requires OFWs to wait six days in quarantine hotels before they undergo a swab test. Under the previous protocol, testing is conducted immediately upon arrival and OFWs with a negative result are allowed to go home. Mr. Cacdac said Labor Secretary Silvestre H. Bello III has already written the Department of Budget and Management for a supplemental budget. — Gillian M. Cortez