Home Blog Page 7123

MRT-7 to open by end-2022

San Miguel Corporation (SMC) on Friday said the Metro Rail Transit Line 7 (MRT-7) project is now 54% complete, on track for its opening by the end of 2022.

“We have already completed a significant amount of civil works, including the installation of bored piles, girders, foundational works on stations, and we have been installing rails or tracks. At the same time, E&M works have also advanced significantly,” SMC President Ramon S. Ang said in a statement on Friday.

Around 6.2 kilometers (km) of the 13.5-km elevated section is complete, while 4.8 km out of 6.9 km of the at-grade section and 1.5 km of the 1.9 km tunnel section are done. Civil works and electrical/mechanical works are both more than halfway done.

Mr. Ang said that construction of the project connecting Quezon City to San Jose del Monte, Bulacan continued despite limitations during the lockdown declared to contain the coronavirus pandemic.

“Now that we’ve crossed the halfway mark, we’re expecting to reach a lot of major milestones for this project this year. This includes the construction of the stations, testing of various equipment in different countries, and the actual arrival of these equipment, including the first batch of trains,” he said.

The initial six trains or 18 cars will be tested in South Korea in April.

SMC bought the trains from South Korea Hyundai Rotem, with the national rail manufacturer, Korea Railroad Corporation (KORAIL), as its adviser.

If the trains pass the tests, the first batch of trains will arrive within the year. SMC will acquire a total of 36 trains or 108 cars for the MRT-7.

The MRT-7 depot will be capable of holding up to 150 trains for future capacity expansion, if needed, the company said.

Mr. Ang said manufacturing of other important equipment, sourced from various countries, have also been completed.

“Given our progress today, and all the major milestones we’re expecting this year and the next, I think we’re confident we can achieve full, complete operations by December next year, with our first test run scheduled for June next year. By then, I believe we would be recovering already from the impacts of COVID-19. Our economy will be on the way up, and people will be resuming their lives in the next normal. MRT-7 will be ready for them, to help make commutes faster, to boost our economy, and bring growth to more areas,” Mr. Ang said. — Jenina Ibañez

CLI to develop P4-B skyscraper in Cebu City

Cebu Landmasters, Inc. (CLI) on Friday said it is developing the P4-billion Masters Tower Cebu, which will feature office and retail spaces and the city’s first five-star luxury hotel.

In an online launch on Friday, CLI highlighted the skyscraper’s sustainable design and how Cebu’s local artistry inspired its architecture.

“This is an icon because of its thoughtfulness. It will connect to Cebuanos, not just today but in future generations,” CLI Executive Vice President and Chief Operating Officer Jose Franco B. Soberano said at the event.

Masters Tower Cebu will occupy a 2,840-square meter lot at the Cebu Business Park, Cebu City. It will top off at 192 meters above sea level, making it one of the top three tallest structures in the city.

Sofitel Cebu City will make up two-thirds of the project, occupying 14th to 32nd floors with 195 guest rooms, meeting rooms, a ballroom, roof deck, lounge and pool.

The hotel’s sky lobby will be housed at the 16th floor, and will feature an internal atrium to reflect natural lighting. Sofitel Cebu’s roof deck will enjoy a 360-degree view of the city.

The building will also feature sky gardens on every floor of the building, and project managers are planning to use these gardens for a farm-to-table restaurant.

Office spaces will occupy the 8th to 12th floors of the building.

Groundbreaking for the project is scheduled within the second quarter of this year. Masters Tower Cebu is expected to be completed in 2025.

CLI is hoping the tower will receive Leadership in Energy & Environmental Design (LEED) Gold Certification.

“We did a lot of extensive research into the furniture making and the craftsmanship that’s inherent to the Cebuano community,” SOM Project Manager Shilpa Patel said at the online conference.

“It became really important to look at all these different aspects of the history of where Cebu comes from and the history of the Cebuano people,” she added.

US-based architectural and engineering group Skidmore, Owings and Merril (SOM) is working with Makati design firm GF Partners and Architects on the project.

Mr. Soberano said the firm looks forward to the return of tourism in Cebu.

“[Masters Tower Cebu’s] importance to Cebu is to serve not just as an iconic landmark but through its contribution to the welfare of the economy. It will add fuel to the very active tourism industry that we have, and it will be there in the heart of Cebu City,” CLI Chief Executive Officer Jose R. Soberano III said at the virtual launch. — Keren Concepcion G. Valmonte

Subic Freeport Expressway opens

The P1.6-billion Subic Freeport Expressway (SFEx) expansion officially opened on Friday, NLEX Corp. said.

Construction of the 8.2-kilometer expansion project continued despite the pandemic to connect business activities in the Clark and Subic economic zones, the company said in a statement on Friday.

The project increases expressway capacity to a double carriageway with lanes in each direction from the single two-way carriageway. Construction included two new bridges and a tunnel.

“We continued the construction of the new expressway despite the challenges posed by the pandemic and the stringent health protocols. The construction project also provided jobs and supported the livelihood of our people. It was also our way of helping our countrymen manage the economic impact of the health crisis. MPTC and NLEX continue to stand with the government in its commitment to improve the lives of Filipinos through infrastructure projects such as this,” NLEX Corporation President and GM J. Luigi L. Bautista said in a statement.

NLEX said that the expansion would boost investments and tourism in the Subic Bay Freeport Zone, a major port in central and north Luzon.

“This fresh Metro Pacific Tollways infrastructure investment will improve mobility, accelerate the country’s economic recovery and more importantly, support the logistics and supply chain we urgently need. Around 10,000 motorists daily will benefit from this new road,” Public Works and Highways Secretary Mark A. Villar said.

The company partially opened the new expressway to serve travelers during the December holidays.

NLEX Corp. is a unit of Metro Pacific Tollways Corp. Its parent Metro Pacific Investments Corp. is one of three key Philippine units of Hong Kong’s First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Jenina P. Ibañez

Antonio eyes settlement with Revolution Precrafted’s suppliers, contractors

Revolution Precrafted Properties Inc. is discussing potential settlements with suppliers and contractors that filed complaints against the start-up company with the National Bureau of Investigation (NBI).

According to ABS-CBN News, nine contractors and suppliers filed the complaints about allegedly questionable contracts for Revolution Precrafted’s real estate projects, in which they paid 10% of the contract value to become the preferred suppliers.

The complainants claimed they were duped out of P150 million after finding that Revolution Precrafted failed to secure government permits for the projects and did not return their payments.

Revolution Precrafted in a statement Friday said that it is complying with the authorities.

The prefabricated home construction company said that it was unable to collect receivables from landowner-developers during the pandemic and was then unable to pay contractors and suppliers.

“Nonetheless, the company sincerely assures its stakeholders that it will honor all legitimate contractual obligations with its partners and suppliers, and only ask for some time consideration to resolve its issues. In parallel, we will also work in earnest to collect what is due the company,” Revolution Precrafted Chief Executive Officer Jose Roberto “Robbie” R. Antonio said in a statement.

Mr. Antonio, who is the son of Century Properties Group Chairman Jose E.B. Antonio, started Revolution Precrafted in 2015.

Since then, the company has announced numerous partnerships with international companies such as a $52-million project in Spain, a $1.2-billion project in Myanmar, and a $3.2-billion project in Dubai.

It also partnered with property companies in the Caribbean nations of Trinidad, Guyana, Jamaica, and the Bahamas, as well as in Japan, Puerto rico, Ecuador, Brazil, and Cyprus.

Locally, Revolution Precrafted was tapped to develop prefabricated structures for the $1.1-billion Batulao Artscapes in Nasugbu, Batangas, the $750-million Revolution Flavorscapes in Mexico, Pampanga, and the $125-million Puerto Azul project in Cavite. — Jenina P. Ibañez

Singapore start-up enters Philippines market

The Ayala Corp. fund for startups will inject $2 million into internet distribution technology from a Singapore-based company, venture capital firm Kickstart Ventures Inc. announced on Friday.

Kickstart manages the $180-million fund under the Ayala Corporation Technology Innovation Venture (ACTIVE) from Ayala Corp., its subsidiaries, Bank of the Philippine Islands, and Kickstart parent Globe Telecom.

The first publicly announced investment under this program will go to Trancelestial Technologies, which plans to use its Centauri device to create a wireless internet distribution network in the country.

“Transcelestial aims to work with Philippine telcos among others to provide a solution to the daunting industry challenge of putting up cell sites,” Kickstart said in a press release.

The device uses laser communications technology for wireless distribution between buildings, cell towers, and other infrastructure.

“It unlocks fiber-equivalent high bandwidth between 4G/5G cell towers and the telecom core network which connects back to their data centers,” Kickstart said, adding that it would reduce costs usually incurred by laying down fiber cables.

“As more Filipinos become reliant on internet access for their livelihood and social connections, we’re hopeful that Transcelestial will help increase Internet penetration and provide telcos and ISPs (internet service providers) with an affordable option for 5G deployment,” Kickstart President Minette Navarrete said.

The ACTIVE fund will invest between $2-10 million into startup companies in their early to mid-growth stages. — Jenina P. Ibañez

Stocks climb on possible easing of quarantine measures

LOCAL SHARES ended the week higher amid a recommendation to place Metro Manila under eased restriction measures as the government finalizes its vaccination program.

The benchmark Philippine Stock Exchange (PSEi) gained 76.77 points or 1.12% to finish at 6,926.41 on Friday. The all shares index also rose 28.51 points or 0.68% to close at 4,199.

“The market rebounded today, perhaps aided by the possible call to go to MGCQ (modified general community quarantine). Also the market found some support near the 6,800 zone after correcting for almost five days,” COL Financial Group, Inc. Chief Technical Analyst Juanis G. Barredo said in a Viber message on Friday.

“Market continued to be resilient on account of the expected economic reopening and vaccination,” First Metro Investment Corp. Head of Research Cristina S. Ulang said in a separate Viber message.

“Continuing market theme is the hunt for yield and recovery play which both reinforce equities as the favorite asset class more than bonds whose duration risk is heightened by rising inflation and the BSP’s (Bangko Sentral ng Pilipinas) reduced presence in the secondary debt markets,” Ms. Ulang added.

President Rodrigo R. Duterte is expected to make a decision on the MGCQ recommendation next week. More businesses will be allowed to operate under this type of lockdown and transportation services will also increase.

All sectoral indices at the PSE ended in the green on Friday. Holding firms increased by 168.18 points or 2.39% to 7,187.4; mining and oil grew by 182.4 points or 1.98% to 9,396.67; financials improved by 9.62 points or 0.65% to 1,471.50; services climbed 2.4 points or 0.16% to 1,479.37; industrials gained 9.31 points or 0.1% to 8,963.93; and property inched up by 1.71 points or 0.05% to finish at 3,445.68.

Value turnover went up to P9.56 billion on Friday with 16.37 billion shares switching hands, from the P8.9 billion with 16.62 billion shares traded the previous day.

Decliners beat advances, 116 against 98, while 41 names closed unchanged.

Net foreign selling went down to P579.54 million on Friday from the P1.25 billion recorded on Thursday.

“Investors returned to the Philippines for bargain hunting after successive sell-offs after recent economic data showed only a slightly better labor market amid increasing bond yields. Investors are now worried over potential inflation spikes driven by elevated commodity and energy prices,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said via Viber.

“We hope nothing untoward would come to offset this rebound, like a correction from the US. The PSEi still remains in a consolidation and has its range pegged between 6,800-6,600 low and around 7,200 to 7,500 high band,” COL Financial Group, Inc. Chief Technical Analyst Barredo said. — K.C.G. Valmonte

WhatsApp to move ahead with privacy update despite backlash

Facebook Inc’s WhatsApp said on Thursday it will go ahead with its controversial privacy policy update but will allow users to read it at “their own pace” and will also display a banner providing additional information.

In January, the messaging platform informed users it was preparing a new privacy policy, under which it could share limited user data with Facebook and its group firms.

It sparked a global outcry and sent users to rival apps Telegram and Signal, among others, prompting WhatsApp to delay the new policy launch to May and to clarify the update was focused on allowing users to message with businesses and would not affect personal conversations.

In India, the messaging app’s biggest user base, Facebook executives fielded questions from a parliamentary panel on the need for the changes, days after the country’s technology ministry asked the messaging platform to withdraw them.

In its latest blog, WhatsApp said it will start reminding users to review and accept updates to keep using the messaging platform.

“We’ve also included more information to try and address concerns we’re hearing,” it added.

WhatsApp‘s announcement comes as parent Facebook moved to block all news content in Australia on Thursday, facing backlash from publishers and politicians, prompting a senior British lawmaker to label the move as an attempt to bully a democracy. – Reuters

Rich nations have a billion more COVID-19 shots than needed – report

LONDON – Rich countries are on course to have over a billion more doses of COVID-19 vaccines than they need, leaving poorer nations scrambling for leftover supplies as the world seeks to curb the coronavirus pandemic, a report by anti-poverty campaigners found on Friday.

In an analysis of current supply deals for COVID-19 vaccines, the ONE Campaign said wealthy countries, such as the United States and Britain, should share the excess doses to “supercharge” a fully global response to the pandemic.

The advocacy group, which campaigns against poverty and preventable diseases, said a failure to do so would deny billions of people essential protection from the COVID-19-causing virus and likely prolong the pandemic.

The report looked specifically at contracts with the five leading COVID-19 vaccine makers – Pfizer-BioNTech, Moderna, Oxford-AstraZeneca, Johnson & Johnson, and Novavax.

It found that to date, the United States, the European Union, Britain, Australia, Canada and Japan have already secured more than 3 billion doses – over a billion more than the 2.06 billion needed to give their entire populations two doses.

“This huge excess is the embodiment of vaccine nationalism,” said Jenny Ottenhoff, ONE Campaign’s senior director for policy.

“Rich countries understandably hedged their bets on vaccines early in the pandemic but with these bets paying off in spades, a massive course correction is needed if we are going to protect billions of people around the world,” she added.

The analysis found that, along with other COVID vaccine supplies procured by the global COVAX vaccine-sharing plan and in bilateral deals, the excess rich-country doses would go a long way to protecting vulnerable people in poorer countries.

This would significantly reduce the risk of deaths from COVID-19, it said, as well as limiting the chances of new virus variants emerging and accelerating an end to the pandemic.

The World Health Organization on Thursday urged nations with vaccines not to share them unilaterally, but to donate them to the global COVAX scheme to ensure fairness. – Reuters

NASA’s astrobiology rover Perseverance makes historic Mars landing


LOS ANGELES – NASA’s Mars rover Perseverance, the most advanced astrobiology lab ever sent to another world, streaked through the Martian atmosphere on Thursday and landed safely inside a vast crater, the first stop on a search for traces of ancient microbial life on the Red Planet.

Mission managers at NASA’s Jet Propulsion Laboratory (JPL) near Los Angeles burst into applause, cheers and fist-bumps as radio beacons signaled that the rover had survived its perilous descent and arrived as planned on the floor of Jezero Crater, site of a long-vanished Martian lake bed.

The six-wheeled vehicle came to rest about 2 kilometers from towering cliffs at the foot of a remnant fan-shaped river delta etched into a corner of the crater billions of years ago and considered a prime spot for geo-biological study on Mars.

“Touchdown confirmed,” Swati Mohan, the lead guidance and operations specialist announced from the control room. “Perseverance safely on the surface of Mars.”

The robotic vehicle sailed through space for nearly seven months, covering 293 million miles (472 million km) before piercing the Martian atmosphere at 12,000 miles per hour (19,000 km per hour) to begin its descent to the planet’s surface.

Moments after touchdown, Perseverance beamed back its first black-and-white images from the Martian surface, one of them showing the rover’s shadow cast on the desolate, rocky landing site.

Because it takes radio waves 11 minutes to travel from Mars to Earth, the SUV-sized rover had already reached Martian soil by the time its arrival was confirmed by signals relayed to Earth from one of several satellites orbiting Mars.

The spacecraft’s self-guided descent and landing during a complex series of maneuvers that NASA dubbed “the seven minutes of terror” stands as the most elaborate and challenging feat in the annals of robotic spaceflight.

Acting NASA chief Steve Jurczyk called it an “amazing accomplishment,” adding, “I cannot tell you how overcome with emotion I was.”

Deputy Project Manager for the rover, Matt Wallace, said the descent and landing systems “performed flawlessly.”

The landing represented the riskiest part of two-year, $2.7 billion endeavor whose primary aim is to search for possible fossilized signs of microbes that may have flourished on Mars some 3 billion years ago, when the fourth planet from the sun was warmer, wetter and potentially hospitable to life.

Scientists hope to find biosignatures embedded in samples of ancient sediments that Perseverance is designed to extract from Martian rock for future analysis back on Earth – the first such specimens ever collected by humankind from another planet.

Two subsequent Mars missions are planned to retrieve the samples and return them to NASA in the next decade, in collaboration with the European Space Agency.

Thursday’s landing also came as a triumph for a pandemic-weary United States, still gripped by economic and social upheaval from the COVID-19 pandemic. The public health crisis emerged in the months before the rover was launched in July and complicated execution of the Mars mission.

U.S. President Joe Biden, watching NASA coverage of the event at the White House, tweeted his congratulations, saying, “Today proved once again that with the power of science and American ingenuity, nothing is beyond the realm of possibility.”

 

SEARCH FOR ANCIENT LIFE

NASA scientists have described Perseverance as the most ambitious of nearly 20 U.S. missions to Mars dating back to the Mariner spacecraft’s 1965 fly-by.

Larger and packed with more instruments than the four Mars rovers preceding it, Perseverance is set to build on previous findings that liquid water once flowed on the Martian surface and that carbon and other minerals altered by water and considered precursors to the evolution of life were present.

Perseverance’s payload also includes demonstration projects that could help pave the way for eventual human exploration of Mars, including a device to convert the carbon dioxide in the Martian atmosphere into pure oxygen.

The box-shaped tool, the first built to extract a natural resource of direct use to humans from an extraterrestrial environment, could prove invaluable for future human life support on Mars and for producing rocket propellant to fly astronauts home.

Another experimental prototype carried by Perseverance is a miniature helicopter designed to test the first powered, controlled flight of an aircraft on another planet. If successful, the 4-pound (1.8-kg) helicopter could lead to low-altitude aerial surveillance of distant worlds, officials said.

The daredevil nature of the rover’s descent to the Martian surface, at a site that NASA described as both tantalizing to scientists and especially hazardous for landing, was a momentous achievement in itself.

The multi-stage spacecraft carrying the rover soared into the top of Martian atmosphere at nearly 16 times the speed of sound on Earth, angled to produce aerodynamic lift while jet thrusters adjusted its trajectory.

A jarring, supersonic parachute inflation further slowed the descent, giving way to deployment of a rocket-powered “sky crane” vehicle that flew to a safe landing spot, lowered the rover on tethers, then flew off to crash a safe distance away.

Extra cameras designed to shoot video of Perseverance as it plunged toward the surface are believed to have captured the first footage ever recorded of a spacecraft descending onto another planet, JPL officials said. That video may be ready to show the world as early as next week, Wallace said.

Perseverance’s immediate predecessor, the rover Curiosity, landed in 2012 and remains in operation, as does the stationary lander InSight, which arrived in 2018 to study the deep interior of Mars. –  Reuters

Accelerated digital transformation to continue in 2021 — research firm

Four trends will shape the technology and telecommunication market in 2021: accelerated artificial intelligence (AI) automation in operations; the reshaping of the technology landscape by remote solutions; the mainstreaming of digital health and well-being; and the increase in intelligent resilience investments. 

“The disruptive impact of 2020 has required many industries to adapt rapidly and has increased demand for services or solutions that deliver greater degrees of automation and autonomy,” said 

Juniper Research Limited, a UK-based consultancy that specializes in digital technology markets, in its 2021 Tech & Telco Megatrends report

AI AUTOMATION 

The past year was marked by supply chain disruptions and an increased reliance on online services. Such impacts will carry through 2021, said Juniper Research. Physical visits to retail outlets will begin to recover this year, but are unlikely to return to pre-pandemic levels. 

Retailers and service providers will continue to adapt by investing in efficiency- and cost-saving operations. Automation will improve customer experiences, and AI’s benefits will be felt from both front-end and back-end solutions.

In the Philippines, companies such as LBC Express have since adopted AI technologies to automate its booking process between containers and carriers for the speedier movement of international goods. 

REMOTE SOLUTIONS

Industries will continue to iterate work-from-home solutions in 2021 to make them more effective. Workers will benefit from this trend, as Juniper Research sees firms’ annual budgets being invested into remote work upgrades. 

Investment management company Colliers International Philippines sees a similar trend, as it believes most local organizations will continue to implement work-from-home schemes even past the pandemic. 

With the more purposive adoption of tools beyond the simple provision of collaboration tools, SaaS (software-as-a-service) vendors with the ability to offer multiple services in a single software package will also benefit and see the most immediate adoption this year.

DIGITAL HEALTH 

Digital therapeutics will become integral to healthcare delivery as the pandemic recedes in 2021. The trend is already happening locally, with 79% of Filipino respondents in a 2021 Prudential report saying they use digital health platforms and personal health technologies like fitness trackers. 

Wearables are key to combating the spread of coronavirus disease 2019 (COVID-19) once privacy concerns are addressed, according to Juniper Research. Should wearables slow the pandemic, the strain on healthcare systems will be reduced. The large volumes of contact tracing data also mean digital health companies will have the material to refine their AI models.

INTELLIGENT RESILIENCE 

Business continuity will be essential this year. There will be an increase in interest in network automation, cloud networking, and remote access solutions, according to Juniper Research. 

Internet of Things (IoT) security concerns will be addressed by confidential computing, a technology that isolates and protects sensitive data. Benefits include a reduced risk of advanced cybersecurity attacks on end users, as well as increased trust in cloud services for processing data. 

The Philippines ranked 11th in the 2020 Cloud Readiness Index, down two places from its 2018 spot. The index measures the extent to which economies are prepared to adopt and roll out cloud computing technologies—infrastructure that involves using networks to allow online data storage, among other functions. — Patricia B. Mirasol

SSS loans, benefits can now be received via RCBC’s DiskarTech

All members of the Social Security System (SSS) worldwide can now get their SSS benefits and loans proceeds through the DiskarTech mobile app of the Rizal Commercial Banking Corporation (RCBC).

In a partnership launched during the lunar year of the Ox, RCBC President and Chief Executive Officer Eugene S. Acevedo and SSS President and CEO Aurora C. Ignacio encouraged the use of the DiskarTech digital platform by offering incentives to participating SSS members and pensioners.

Eugene S. Acevedo, RCBC president, and chief executive officer

“RCBC has been at the forefront of providing relevant and responsive digital solutions to our partners across industries. With this SSS collaboration, we are humbled to be of service to more than 36 million SSS members worldwide,” Acevedo said. “This is indeed a milestone in digitalizing government to person payments in support of the BSPs goals towards a digital Philippines.”

“The SSS partnership with RCBC is a welcome initiative aimed at encouraging members to explore and utilize digital enhancements that will provide them with the highest level of service,” said SSS President and Chief Executive Officer Aurora C. Ignacio. “This program will allow SSS members with RCBC DiskarTech accounts, enrolled in the Disbursement Account Enrollment Module or DAEM of the SSS website, to enjoy the convenience of fast and safe disbursement of their benefit and loan proceeds from the SSS, while having the chance to win cash and other exciting prizes from RCBC.”

Aurora C. Ignacio, SSS president, and chief executive officer

The Siguradong Madiskarte promo will entitle 20 SSS members to win P10,000 each by registering their DiskarTech basic deposit accounts to the Disbursement Account Enrollment Module (DAEM) of the SSS. Those who have successfully registered will earn a raffle coupon. Additional raffle entry will be added for every credit of SSS benefit to their DiskarTech account.

Any registered SSS member must register or enroll their 15-digital DiskarTech account number by visiting https://member.sss.gov.ph/members and choose RCBC/DiskarTech in the list of SSS bank partners. Members must ensure that they only enroll their actual accounts that will match with their registered SSS membership.

DiskarTech is a transactional bank account that is applied to and used online. It requires no initial deposit, maintaining balance, nor dormancy fees. Its interface is also rendered in the vernacular Taglish language for an easier understanding of financial concepts and processes.

“This partnership is just one of the several initiatives that we have lined up for all our SSS members,” says Lito Villanueva, RCBC executive vice president, and chief innovation and inclusion officer. “Millions of SSS members can enjoy 3.25 percent interest on their savings plus free fund transfers for the entire 2021 including free bills payment, e-load, and cash-in.”

Soon, DiskarTech will also provide sachet loan products on top of its microinsurance and telemedicine offerings.

RCBC is one of the leading universal banks accelerating digital transformation in the Philippines. It was judged in 2020 as the Philippines’ best digital bank by the Asiamoney Best Bank Awards and the Alpha Southeast Asia Best Financial Institutions Awards, among other global and regional recognitions.

In 2020, RCBC and its digital platforms helped the National Government disburse social amelioration funds amounting to more than P12 billion to 3.3 million households, benefitting 16.6 million individuals in 72 out of 81 provinces nationwide.

According to BSP Governor Benjamin Diokno, digital payments surged by over 5,000 percent amid pandemic. The country saw a surge in the use of electronic payment systems at the height of the COVID-19 pandemic in 2020 which went with a decline in the use of cash for transactions.

PhilHealth extends payment deadline for employers

The Philippine Health Insurance Corporation (PhilHealth) is extending its deadline for employers to remit their contributions for the applicable month of January until February 22, 2021.

The extension of the deadline is in view of the technical issues in the Electronic Premium Remittance System (EPRS) Online Payment Module since February 11, 2021, which prevented employers from generating their Statement of Premium Accounts or billing statements.

The extension is applicable to all employers in the private and government sectors nationwide.

Employers needing further assistance may contact the nearest Local Health Insurance Office or their respective PhilHealth Accounts Management Specialists.