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Stuff to do (01/08/21)

Alliance Français de Manille Storytelling Session

THE FRENCH cultural association Alliance Français de Manille will be holding its first storytelling session for children for 2021 on Saturday, Jan. 9, at 11 a.m. The session will be on Catharina Valckx’s Billy et le Gros Dur, about a cowboy hamster named Billy who, together with his worm friend Jean-Claude, try to unmask the badger bandit terrorizing the neighborhood and stealing from the poor. The storytelling session is intended for children aged three years old and above and the story will be told in both French and English. Access to the session is free via the Facebook page of Alliance Français de Manille.

Enderun webinar on parenting in the digital age

ENDERUN colleges will be hosting a webinar about the important role of parents and the very nature of Generation Z entitled, “For Parents: Guiding Gen Z in their Future Careers,” on Jan. 9, 2 p.m., via Zoom. Inspirational speaker Francis Kong will be talking at the webinar about parenting in the digital age. The talk is ideal for parents with children between the ages of 10 to 24 who are considered part of Generation Z. The members of this generation are known as the true digital natives, as they have been highly exposed to the internet, social networks, and mobile systems since birth and are now living in competitive and technology-driven environments as they approach high school, college, and the workforce. With the increasing demands and impact of digital transformation, it is relevant to discuss the critical skill sets the children need to possess that will prepare them for the jobs of the future. To register for the webinar, visit http://bit.ly/Event-GenZParents.

Manulife financial wellness webinar

MANULIFE will be holding a financial wellness webinar on Jan. 13, 3:30 p.m., where its financial advisers will tell Filipinos how they can better manage their finances in 2021. The webinar will be joined by actresses Anne Curtis and Jasmine Curtis-Smith, basketball player Kobe Paras and actor Andre Paras. The virtual event will be hosted by Luis Manzano. To join the webinar, register at manulife.pub/ReadySetGoals.

The Farm at San Benito Healing Festival

THE FARM at San Benito will be holding its first healing arts festival from Jan. 11 to 13, to be held onsite at the Farm’s amphitheater. Among the events included in the festival are Crystal Healing Bowls and Gong Bath by Francesca Warnke, Jan. 11, 1:30 p.m.; and an Introduction to Authentic Happiness Life Coaching and Vocal Sound Healing by Sita Shakti, Jan. 12, 6:30 p.m. To learn more about the event and to register, visit Healing Festival 2021 | The Farm at San Benito.

Benilde seminars of basic Filipino Sign Language

A THREE-part webinar on the basics of Filipino Sign Language (FSL) will be hosted by the School of Deaf Education and Applied Studies (SDEAS) of the De La Salle-College of Saint Benilde. The lectures aim to equip families, students, educators, professionals and members of the community with the knowledge and skills essential to become more informed about the world of the deaf. The webinar will be held on Jan. 16, 23, and 30, from 10 a.m. to noon. Ticket to the webinar cost P600 and come with full access to all three webinars and video recordings of the sessions. It will likewise grant access to online FSL posters and video tutorials for an FSL song, plus 60 Christmas-related FSL signs and a raffle entry. To register, go to bit.ly/6060webinars.

Philippine ranking sinks in index measuring ‘global connectedness’

Philippine ranking sinks in index measuring ‘global connectedness’

How PSEi member stocks performed — January 7, 2021

Here’s a quick glance at how PSEi stocks fared on Thursday, January 7, 2021.

PSEi up as Democrats gain control of US Senate

By Revin Mikhael D. Ochave, Reporter

PHILIPPINE SHARES closed higher on Thursday as market sentiment was lifted after the Democratic Party gained control of the United States (US) Senate and on the better showing of US markets.

Ending its two-day skid, the 30-member Philippine Stock Exchange index (PSEi) improved by 71.76 points or 1.01% to close at 7,119.61, while the broader all shares index rose 41.35 points or 0.97% to end at 4,271.49.

Timson Securities, Inc. Head of Online Trading Darren Blaine T. Pangan said in a mobile phone message that the market ended in positive territory as the Democratic party secured control of the US Senate.

Reuters reported that two US Senate seats in runoff elections in Georgia were swept by Democrats as Jon Ossoff and Raphael Warnock were projected as the winners in their respective Senate races on Wednesday.

The sweep gave the Democratic Party control of both chambers of Congress and the White House for the first time in a decade.

“Moreover, investors may have picked up bargain shares as the index ended just above the 7,000 mark yesterday (Wednesday),” Mr. Pangan said.

For Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco, the market ended in green territory as investors took cues from the performance of the Dow Jones Industrial Average (DJIA).

On Wednesday, the DJIA and S&P 500 indices increased 1.44% and 0.57%, while the Nasdaq Composite index fell by 0.61%.

“The local bourse also climbed as bargain hunters took advantage of the market’s prior two straight days of decline,” Mr. Tantiangco said in a mobile phone message.

All sectoral indices edged up at the close of Thursday’s trading. Financials soared by 59.1 points or 4.28% to 1,439.47; mining and oil went up 372.16 points or 3.84% to 10,052.91; services climbed 13.01 points or 0.86% to 1,516.21; holding firms increased 41.98 points or 0.58% to 7,269.76; property went up 5.87 points or 0.16% to 3,685.05; and industrials gained 7.1 points or 0.07% to 9,462.3.

Advancers bested decliners, 159 against 72, while 31 names ended unchanged.

Value turnover on Thursday reached P8.73 billion with 46.43 billion issues switching hands, lower than the P11.91 billion with 22.68 billion issues seen in the previous trading session.

Net foreign selling declined to P680.38 million yesterday from the net P685.39 million that left the market on Wednesday.

“Before the weekend, we’ll have to see if 7,000 holds. Otherwise, 7,300 may be considered the nearest resistance area,” Timson Securities’ Mr. Pangan said.

Peso retreats as oil prices rise

THE PESO weakened against the greenback on Thursday as oil prices rose, threatening a higher import bill for the country.

The local unit finished trading at P48.07 per dollar yesterday, shedding 3.7 centavos from its P48.033 close on Wednesday, data from the Bankers Association of the Philippines showed.

The peso opened Thursday’s session at P48.045 versus the dollar. Its intraday best was at P48.04 while it closed at its weakest level for the day.

Dollars traded went up to $518.45 million yesterday from $488.8 million on Wednesday.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the local unit depreciated due to the recent pickup in oil prices.

“The peso was slightly weaker after the latest rise in global oil prices above the $50-per-barrel level, which may increase the country’s oil import bill that entail purchase of more dollars,” Mr. Ricafort said in a text message.

Reuters reported that oil prices inched up on Thursday following a fall in US stock prices as well as the decision of Saudi Arabia to cut output in the next two months. 

Price per barrel for Brent crude rose 0.8% or 44 cents to $54.74 by 0734 GMT following some overnight gains.

Saudi Arabia, which is home to the biggest oil export facilities, said it would slash a million barrels per day from its February and March outputs.

For today, Mr. Ricafort gave a forecast range of P48.04 to P48.09 per dollar. — LWTN with Reuters

Velasco files House measures to suspend PhilHealth, SSS rate hikes

SPEAKER Lord Allan Q. Velasco on Thursday filed House Bill (HB) No. 8316, which authorizes the President to suspend scheduled increases in member contributions to the Philippine Health Insurance Corp. (PhilHealth) “in times of national emergency or when the public interest so requires.”

The measure proposes to amend Republic Act (RA) No. 11223 or the Universal Health Care Law, according to the text of the bill.

Mr. Velasco also filed HB 8317, which authorizes the President to suspend scheduled increases in the contributions to the Social Security System (SSS). The power to suspend entails consultation with the Secretary of Finance, who is an ex-officio member of the Social Security Commission (SSC.)

The PhilHealth measure, which is similar to HB 8300 filed by Marikina City Representative Stella Luz A. Quimbo on Wednesday, gives the President the power to suspend rate hike in consultation with the Secretaries of Health and Finance and the PhilHealth chairman.

“Suspending the imposition of the new PhilHealth premium rates will provide a much-needed relief from the negative effects of the pandemic and will assure Filipinos that the government is sensitive to their sentiments,” according to the bill.

RA No. 11223 authorizes a 0.5% percentage point increase in premium contributions every year between 2021 and 2025. The premium rate for this year will increase to 3.5% of members’ monthly basic salary from 3% in the previous year, raising the minimum contribution to P350 from the current P300.

RA No. 11199 or Social Security Act of 2018, empowers the SSC, the governing body for the SSS, to increase the contribution rate by 1 percentage point every other year between 2019 and 2025.

SSS contribution rates rise to 13% of basic salary starting this month, from 12% last year. — Kyle Aristophere T. Atienza

Private sector to take lead role in building LNG infrastructure

THE Department of Energy (DoE) said it expects the private sector to take the lead in building out the country’s liquefied natural gas (LNG) infrastructure, including terminals to receive imports, and will back efforts to “encourage” private groups to engage in such projects.

DoE Head of Public Affairs Jive Bullock told BusinessWorld via Viber Wednesday that the infrastructure needs for LNG imports include jetties, storage, regasification terminals, onshore gas processing plants and pipelines.

She gave no details on how the government intends to “stimulate” private sector participation, which in the energy industry typically involves an incentive scheme for key projects. Executive Order No. 30 from 2017, for instance, authorizes streamlined approval procedures for a category of generating assets classified as Energy Projects of National Significance.

Ms. Bullock made the remarks on LNG to BusinessWorld Wednesday.

“The DoE agrees with Senator (Sherwin T.) Gatchalian. We cannot wait for Malampaya to run out before taking action, so we are really encouraging private sector participation and interest in developing the country’s LNG industry,” Ms. Bullock said.

Developing the country’s natural gas industry, according to her, would require the construction of LNG carrier jetties, storages, regasification terminals, onshore gas processing plants and pipelines.

Mr. Gatchalian, who chairs the Senate’s energy committee, had issued a statement that in light of the impending decline of the Malampaya gas field, the Philippines’ sole domestic source of gas, it was the DoE’s mission “to encourage the private sector to build receiving terminals for imported LNG.”

“Because we haven’t discovered new sources of gas in our country, we have to resort to importing LNG just to make sure that those 3,200-megawatt gas-fired power plants keep on running,” he said, referring to the five gas-run plants that account for 20% of the Luzon grid’s installed capacity.

On Jan. 5, Mr. Gatchalian, the DoE and the Energy Regulatory Commission (ERC) participated in a Senate hearing on the proposed Midstream Natural Gas Industry Development Act, or Senate Bill No. 1819.

The measure seeks to regulate the midstream natural gas industry, covering operations such as aggregation, supply, importation, receipt, unloading, loading, processing, storage, regasification, transmission and transportation of natural gas in original or liquified form.

During the hearing, representatives from the DoE and ERC asked for more time to submit their respective agencies’ detailed comments on the proposed bill.

DoE Assistant Secretary Leonido J. Pulido III and ERC officer-in-charge for the Investigation Enforcement Division for Generation Companies Leila O. Cirio both said that they would submit their formal comments on the bill by Monday. — Angelica Y. Yang

DAR announces P2-B lending program for farmers

THE Enhanced Partnership Against Hunger and Poverty (EPAHP) program and the Department of Agrarian Reform (DAR) launched a new lending program that aims to support agrarian reform beneficiaries organizations to enhance food security initiatives.

In a statement Thursday, DAR said EPAHP, through the Land Bank of the Philippines, has allocated P2 billion for the program, which can be tapped until Dec. 21, 2022.

“It offers a loanable amount of up to 80% of the awarded contract price for goods that will be delivered by the agrarian reform beneficiaries’ organizations to a contracting government agency. Each credit facility has a short-term loan line with a 5% interest rate per annum,” the DAR said.

Agrarian Reform Undersecretary Emily O. Padilla said DAR regional offices have been ordered to introduce the new lending project to beneficiaries of EPAHP, which is run by various departments.

Ms. Padilla said the lending program aims to address hunger, poverty, and food security by extending credit to qualified community-based groups.

“As we seek to reach more farmers nationwide, we are heavily focusing on making loans accessible. The program is aggressively strengthening its goals to provide more individual borrowers with direct access to credit especially in this time of pandemic,” Ms. Padilla said.

The lending program will send financing support to the beneficiaries via farmers and fishers’ cooperatives, irrigators associations, and rural financial institutions.

“The purpose of this loan is to finance purchase orders and/or contract receivables from government agencies for the provision of needed food items required in various government programs,” Ms. Padilla said.

EPAHP aims to promote food security, lessen poverty, and mitigate hunger by 2030. It is a joint effort of several government agencies such as the DAR, Department of Agriculture (DA), and Department of Social Welfare and Development (DSWD), among others. — Revin Mikhael D. Ochave

Three departments tasked to identify key projects eligible for regulatory relief, waivers

THE Departments of Environment and Natural Resources (DENR), Trade and Industry (DTI) and Finance (DoF) will form a committee to identify critical private-sector projects deemed crucial to the post-pandemic landscape which will be eligible for regulatory relief.

The committee’s powers were defined in the implementing rules and regulations (IRR) of Section 4 (nnn) of Republic Act No. 11494, or the Bayanihan to Recover as One Act (Bayanihan II), which were issued Thursday.

Bayanihan II, signed into law last year and recently extended until the end of 2021, lays down relief measures to help the economy recover faster from the pandemic. It permits the government to extend regulatory relief and waive certain permits, licenses, certificates, clearances and other requirements. The relief applies to private sector-led projects deemed of national importance, or those judged yield significant economic returns and jobs.

The measure does not seek to provide exemptions from taxes, duties, border controls and environmental rules. The waivers are valid while the state of national emergency is in force, or until the end of June 2022.

“The Committee will work towards achieving the goal of the Bayanihan II to spur investment by speeding up the approval and implementation of private investment, stimulate economic activity and create jobs, so that our economy can recover from the effects of the COVID-19 pandemic,” Finance Secretary Carlos G. Dominguez III said in a statement Thursday.

“It will not be granting blanket relief as the committee will still carefully consider the overall contribution of the projects and their impact on the general health and welfare of the public,” he added.

“While permits, licenses, and other similar authorizations will be waived for private projects that meet the directives of the Act, we will ensure that their proponents comply with all the other laws pertinent to the implementation of these projects,” Environment Secretary Roy A. Cimatu was quoted as saying in the same statement.

Private project proponents seeking relief should apply to the committee chaired by the DoF, according to the IRR.

Projects eligible for relief will be assessed based on a per-requirement basis, as well as their economic and social impact.

The IRR said projects likely be covered by the relief package are housing and resettlement works under the Balik Probinsya Program, and projects related to water supply and sanitation, watershed rehabilitation and protection, power generation, transmission and electrification to support the digital economy, and other critical services that will help strengthen security and promote peace.

“As such, the total cost of the covered project is not necessarily the sole basis in determining national significance,” it said.

The rules also bar any court, except the Supreme Court, from issuing temporary restraining orders, preliminary injunctions or preliminary mandatory injunctions against the committee and projects covered by the relief measures.

The government can also cancel at any time the relief granted to proponents if they are found to have violated the rules. — Beatrice M. Laforga

Security of data touted as possible competitive edge

By Jenina P. Ibañez, Reporter

THE ABILITY of companies to keep data secure could emerge as a competitive advantage during the migration to online business processes, now that businesses can devote more time to privacy issues after exiting from survival mode during the early days of the lockdown, according to Singapore technology company Straits Interactive Pte. Ltd.

“Business leaders or the top of the organization should have undergone a paradigm shift and look at data privacy and data protection as a business enabler and a competitive advantage moving forward, especially in the turbo-accelerated digital transformation that is happening now,” Straits Interactive Country Manager Edwin A. Concepcion said in an online interview last month.

Contact tracing measures imposed during the pandemic increased data privacy awareness among organizations, he said.

More companies are also looking into mitigating data privacy risk as they shift to digital, he said. Firms started accelerating their digital transition during the strictest part of the lockdown as more employees worked from home.

“(Data privacy) awareness has been heightened because consumers are demanding protection and data privacy,” he added.

Mr. Concepcion identified the healthcare and education sectors as top priorities for data protection.

“We have a lot of hospitals or healthcare institutions that still probably are just starting to implement their data protection management programs. We also need to train and change some behaviors or habits, especially on the employees on how to securely or more appropriately handle information relating to the health of individuals,” he said.

“(In healthcare and education), the personal info they are processing are more valuable and at the same time the sectors are more vulnerable. The individuals are more vulnerable to identity theft and risk.”

The National Privacy Commission last year flagged “dismal” privacy standards in the health sector, raising concerns about their management of contact tracing during the pandemic. The commission said that the sector’s poor compliance with data privacy standards is the main cause of breaches.

Domestically produced energy output up 3% in 2019, led by coal

DOMESTICALLY PRODUCED energy output on an oil-equivalent basis rose 3% in 2019, led by coal, according to a report issued by the Department of Energy (DoE).

“Aggregate indigenous energy production reached 30.9 MTOE (megatons of oil equivalent) in 2019, 3.0% than its year-ago level of 30 MTOE in 2018,” the Energy Department said in an Energy Situationer.

The DoE classifies as indigenous energy fossil fuels and renewable energy, including those from biofuels which were extracted in the country.

“Coal contributed to the bulk of the increase with its 17% hike in domestic production, while notable increments were registered in production levels of geothermal (2.4%) and biofuels (2.7%),” it said.

However, the report found that coal accounted for 23.5% in terms of contribution to total indigenous production, behind geothermal (29.8%) and biomass (25.1%).

According to the situationer, the bulk of the domestically-produced coal, equivalent to 7.3 MTOE, was accounted for by Semirara Mining and Power Corp. Output from other coal mines fell 33.4% in 2019.

Domestic production of oil, crude oil and condensate fell 12% in 2019, while natural gas production from the Malampaya field fell 0.7%.

“Crude oil production plunged by 38.6% to 104.3 KTOE (kilotons of oil equivalent) in 2019 since oil wells located in Nido, Matinloc and North Matinloc have ceased operation,” according to the report.

It added that condensate from the Malampaya project fell 1.4% in 2019. Meanwhile, natural gas from the Malampaya offshore plant rose 0.7 % to 3.6 MTOE in 2019.

“The almost same level of natural gas production is attributable to the maintenance implemented during the year, which affected the operation of all natural gas power plants including the PSPC (Pilipinas Shell Petroleum Corp.) refinery,” it said. — Angelica Y. Yang

BFAR seizes nine vessels in Quezon for illegal fishing

THE Bureau of Fisheries and Aquatic Resources (BFAR) said it seized nine commercial fishing vessels in Mauban, Quezon for using illegal fishing methods.

In a virtual briefing Thursday, BFAR National Director Eduardo B. Gongona said the nine fishing vessels were using Danish Seines, known as buli-buli or hulbot-hulbot, an were apprehended along a river in Barangay Tapucan on Dec. 31.

The enforcement action was carried out by an inter-agency task force involving the BFAR, the Philippine National Police Maritime Group, the Philippine Navy, and the Philippine Army.

“The use and mere possession of buli-buli or hulbot-hulbot including its paraphernalia is prohibited by the government under the amended Fisheries Administrative Order (FAO) 246-1,” BFAR said.

The fishing vessels were brought to Alabat, Quezon for impoundment, documentation, and filing of charges.

BFAR said the owners of the nine fishing vessels were sent notices of violation of Republic Act No. 10654 or the Amended Philippine Fisheries Code.

Mr. Gongona said the BFAR hopes to eradicate illegal, unreported, and unregulated fishing (IUUF), which will eventually boost the performance of the fisheries sector.

“Billions are lost to IUUF, and if we truly commit to reduce unsustainable and destructive fishing practices, our fisherfolk will truly benefit from this effort,” Mr. Gongona said.

BFAR said that a total of 793 IUUF-related cases were filed in 2020. Of these, some 684 cases have been resolved. — Revin Mikhael D. Ochave

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