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Ayala Land to offer up to P10-B bonds due in 2025

AYALA LAND, Inc. (ALI) plans to offer nearly P10-billion fixed-rate bonds and raise funds for the early redemption of certain bonds issued by the real estate firm.

The offering is under the sixth tranche of ALI’s shelf-registered P50-billion securities program. It is expected to raise P9.88 billion, net of fees, commissions, and expenses incurred for bond issuance.

“The Securities and Exchange Commission (SEC) has received on March 12 the offer supplement of Ayala Land, Inc. for the public offering of fixed-rate bonds worth up to P10 billion, comprising the sixth tranche of its P50 billion securities program,” the commission told reporters in an e-mail on Friday evening.

Net proceeds from the offering will be used to pay off the company’s short-term loans used to fund the early redemption of ALI’s P8-billion fixed-rate bonds due 2025, which were issued in 2014 with an annual interest rate of 5.625%.

It will also finance corporate requirements related to properties in Laguna and Cavite under Alveo Land, Inc. and to fund an Avida Land Corp. property in Quezon City.

Bonds will be issued at a minimum of P50,000 each and in multiples of P10,000 thereafter. In the secondary market, they will be traded in denominations of P10,000.

The P50-billion bonds program was authorized by the commission in 2019, some P37.25-billion fixed-rate bonds have been issued in five tranches since.

The first tranche of the securities program was issued in April 2019, amounting to P8 billion. The second tranche worth P3 billion was issued in September of the same year, and the third tranche worth P10 billion was issued in the following month.

In 2020, the company issued the fourth tranche worth P10 billion in June and P6.25-billion bonds were issued in the fifth tranche of the program in September.

ALI has tapped BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., and SB Capital Investment Corp. as joint lead underwriters and bookrunners for the bond offering.

The Ayala-led real estate firm posted a 74% drop in its 2020 net income to P8.7 billion from P33.20 billion, while revenues declined by 43% to P96.3 billion last from P168.8 billion.

ALI shares at the stock exchange rose by 1.09% on Friday to close at P37 apiece from P36.60. — Keren Concepcion G. Valmonte

adidas Originals launches R.Y.V. Collection

AS PART of the Watch Us Move campaign, adidas Originals recently released its R.Y.V. Collection.

R.Y.V., which translates to “Raise Your Voice,” is a collection that was specially designed to encourage movement of all kinds. It is in line with the bigger Watch Us Move campaign, which is a long-term, brand-wide campaign created to better support all women by championing freedom of expression. Adidas said the campaign was inspired by the multiplicity of perspectives and a result of an extensive listening and research process with the end view of uniting women.

The R.Y.V. collection features tracksuits, tank tops, gym bags, and swimsuits, as well as carefully crafted updates to iconic adidas silhouettes: the Forum FSH W, Forum Plus W, Ozweego W, Choigo W, and Superstar W.

Among those giving a face to the campaign and collection is South Korean pop group Blackpink.

Also on board are Berlin-based roller skater Olumi Janta and multidisciplinary dancer Lucia Leonce, and London-based dancer Megan Charles.

The adidas Originals R.Y.V. collection arrived early this month and is available through adidas.com/watchusmove and select retailers. — Michael Angelo S. Murillo

SteelAsia says Batangas steel beams plant to start operations in 2023

STEEL company SteelAsia Manufacturing Corp. announced on Sunday that the steel beams manufacturing plant it is building in Lemery, Batangas is expected to start operations in 2023.

Considered as the country’s first steel beams manufacturing plant, the project, which broke ground in 2019, is seen to generate at least 1,500 direct jobs, the company said in an e-mailed statement.

“Construction of the two production lines — steelmaking and steel section rolling — was suspended due to the Covid-19 lockdown,” it noted.

The facility is estimated to have an annual capacity of about 1.1 million tons.

“It will produce products used in infrastructure and heavy construction including H/I beams, sheet piles, heavy angles and channels that are all currently being imported,” SteelAsia added.

Sections equipment manufacturer SMS of Germany and Fives (formerly Stein Huertey of France), which supplies reheating furnaces, provided the design and supplied the equipment for the project.

SteelAsia President Benjamin O. Yao said the facility will help the Philippines lessen its dependence on imported steel products.

“The Lemery Works steel plant is of national significance as it will reduce our reliance on imports for important steel products needed for the government’s ambitious infrastructure program,” he said.

SteelAsia, which currently has plants in Davao, Cebu, Misamis Oriental, Batangas, and Bulacan, also noted the new facility in Batangas will recycle steel scrap, which is currently being exported.

“When you export and process our resources abroad, it is creating jobs in another country,” Mr. Yao said.

“With this new plant, we will recycle our steel scrap here and generate local jobs,” he added.

Aside from its new project in Batangas, SteelAsia is also putting up plants in Compostela, Tarlac, and Quezon province. — Arjay L. Balinbin

Ayala malls to open new stores this year

ANYONE who has walked through a mall these past few months would have been hard put not to notice the increasing number of tarpaulins covering spaces where a familiar store or favorite restaurant used to be. Despite the cheery messages on the tarpaulins —  in the line of “Watch this space for an exciting new concept!!!” —  it would be hard not to think the worst. But Ayala malls is counteracting this pessimism with an announcement that it has recently opened and will be opening more local and global flagship stores at Glorietta, Greenbelt, Bonifacio High Street, and Ayala Malls Manila Bay this year.

“We’re very pleased to be the home of several flagship stores from various retail segments. We are glad to note that confidence in the market continues to be felt despite these unprecedented times. We have already opened some, but there’s definitely a lot to look forward to in the coming months ahead,” Ayala Malls President Christopher Maglanoc said in a statement.

“We are also dedicated to supporting our local merchants and SMEs (small-medium enterprises) by giving them an avenue to showcase their products. We have several collaborative projects with local communities through various pop-up stores that showcase Filipino talent and design. Meanwhile, as we welcome back our shoppers, we wish to assure the public that safe shopping continues to be a top priority,” Mr. Maglanoc said.

GREENBELT
This year, Greenbelt is set to open bigger stores and welcome new luxury brands. Greenbelt 3, whose ongoing renovation is nearly complete, will also be home to new fashion concepts and a Premium Gallery.

A bigger Louis Vuitton store will be opening soon. Other brands from the LVMH Group opening stores at Greenbelt this year are Fendi, Dior, Bvlgari, and Celine.

Other soon to open stores are Japanese fashion house Kenzo, luxury streetwear brands Off White and Univers.

Parisian perfume and cosmetics brand Officine Universelle Buly is opening its first store in the Philippines this year at Greenbelt 3. Also opening its first store in the country is Italy’s largest fashion house Max Mara, whose collections vary from casual apparel, bags, shoes, and accessories, to bridal wear.

Last year, the first branch of luxury skincare brand Aesop opened at Greenbelt

In 2022, luxury shoe brand Roger Vivier will open its first store in the country. Other Stores Specialist, Inc. labels that are launching in 2022 are Jimmy Choo, Loewe, Chloe, Tod’s, Ermenegildo Zegna, and Salvatore Ferragamo.

Meanwhile, at 1,000 square meters, Greenbelt is home to Toby’s Sports largest store in the country. It is also one of the first stores in the Philippines to integrate touch-screen and interactive walls, which customers can use to browse the brand’s website and learn about its latest products.

BONIFACIO HIGH STREET
Bonifacio High Street, already the home of the flagship store of sportswear brand Nike, saw the first and only Jordan Store in Southeast Asia open there in December 2020. Aside from it carrying a large collection of apparel for men, women, and kids, it also has a rooftop basketball court with a unique mural designed by New York City artist Kimou Meyer.

AYALA MALLS MANILA BAY
Ayala Malls Manila Bay —  the biggest of Ayala Malls to date —  is appropriately the home of the biggest OPPO Experience Store in the Philippines. The store was partly inspired by the aesthetics of the brand’s super flagship stores in China, Singapore, and Thailand. It was also strategically designed to highlight the brand’s own line of Internet of Things products.

The mall is also where one can find the biggest Huawei High-End Experience Store. Aside from selling its flagship devices, it also has a dedicated space for specific interests such as photography, music, sports, health, office, and gaming.

GLORIETTA
Amidst the busy business district, Glorietta is preparing for the opening of Surge Fitness. The 1,384-square meter gym, which will be open 24/7, is targeted to open by August, once given the go-ahead by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) and the Makati government. Gym-enthusiasts can expect a safe fitness haven as safety protocols will strictly be implemented. 

Several other sports brands are scheduled to open their flagship stores at Glorietta within the year.

“We are truly hopeful that the industry is slowly on the path to recovery, especially with further easing up of restrictions. We look forward to welcoming back more of our patrons as Ayala Malls continues to provide safe shopping in compliance with the protocols and guidelines by the IATF,” Mr. Maglanoc said in the statement.

Court favors Burlington in logo dispute with Puma

THE Court of Appeals (CA) has denied the motion of Puma SE to allow the registration of its “D with jumping cat” logo for its resemblance to the logo of Burlington Industries Philippines, Inc.

In its decision dated March 10, the court affirmed its ruling dated July 17, 2020 that the Intellectual Property Office of the Philippines erred in allowing the registration of the Puma logo.

The CA affirmed that the Puma logo may mislead the public that it is the Burlington logo due their similar dominant image of the black jumping cat.

The CA stated in its decision that Puma’s logo “is not entitled to be registered as it will possibly raise instances of confusion or deception on the part of the public.”

The intellectual property office’s ruling in 2020 reversed the final resolution of the Supreme Court that Burlington is the prior user and rightful owner of the logo, over which it has trademark rights for more than 30 years. — Bianca Angelica D. Añago

Metro Pacific hospitals vaccinate over 13,000 workers

METRO Pacific hospitals, which make up the country’s biggest private hospital group, have started vaccinating their workers, PLDT, Inc. said on Sunday.

“As of Friday, March 12, 2021, more than 13,000 workers in the Metro Pacific hospital group have received a vaccine for COVID-19 (coronavirus disease 2019),” PLDT said in an e-mailed statement.

The largest hospitals operated by Metro Pacific Hospital Holdings, Inc. (MPHHI) — Makati Medical Center, Asian Hospital and Medical Center, and Cardinal Santos Medical Center — have vaccinated the “majority” of their workers, it said, adding that MPHHI itself has also vaccinated more than 50% of its workforce.

Over 10,000 more workers are expected to be vaccinated by the hospital group.

MPHHI Chairman Manuel V. Pangilinan said: “There remain several formidable problems for our country to solve, whether it’s ensuring the health and well-being of our people, or sustaining the economy during such a turbulent period.”

“But the first step to solving many of them is the same: the successful rollout of safe and effective vaccines. We are the largest private hospital group in the Philippines, and it’s important for us to help the country’s vaccination drive as much as we can. And that begins with getting our hospital workers inoculated,” he added.

MPHHI operates 18 hospitals that are supported by two allied health colleges: Davao Doctors College in Davao City and Riverside College in Bacolod City.

Mr. Pangilinan, PLDT said, also initiated the storage of the initial 487,000 vials of Oxford-AstraZeneca vaccines and the 600,000 doses of the CoronaVac vaccine from China’s Sinovac.

The initiative was carried out through Metro Pacific Investments Corp. (MPIC) and its logistics unit MetroPac Movers, Inc.

“As the Philippines continues to move towards economic revival, it is in everybody’s best interest to protect as many Filipinos as possible from the virus. This additional batch of vaccines, this time from Oxford-AstraZeneca, is a great start,” Mr. Pangilinan said.

MPIC is one of three Philippine subsidiaries of Hong Kong’s First Pacific Co. Ltd., the others being PLDT and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains an interest in BusinessWorld through the Philippine Star Group. — Arjay L. Balinbin

T-bill rates to climb as virus cases surge

YIELDS on Treasury bills (T-bills) on offer on Monday will likely increase further on concerns over rising coronavirus cases in the country, as this could lead investors to flock to safe havens.

The Bureau of the Treasury (BTr) wants to borrow P20 billion via its offering of T-bills on Monday, broken down into P5 billion each via the 91-day and 182-day debt papers and P10 billion from the 364-day instruments.

A bond trader expects T-bill rates to inch up by five basis points (bps) from the previous auction, while a second trader sees yields rising by 10-15 bps.

The first trader said investors are still cautious about high inflation even as they believe this is only temporary.

“BSP (Bangko Sentral ng Pilipinas) Governor [Benjamin E.] Diokno also said recently that the BSP intends to keep the market liquid to aid the recovery of the economy,” the trader said in a Viber message.

“But investors are also wary of the rising confirmed COVID-19 (coronavirus disease 2019) cases in the country. If cases continue to rise, then we might see increased demand for T-bills,” the trader added.

The Philippine Statistics Authority (PSA) earlier reported that headline inflation hit 4.7% last month, picking up from 4.2% in January and the 2.6% print in February 2020. Last month’s result also marked the fastest pace in 26 months or since the 5.1% in December 2018.

The February rate brought the two-month average to 4.5%, above the central bank’s 2-4% annual target.

Mr. Diokno last week said the central bank is unlikely to tighten monetary policy soon despite rising inflation, saying high commodity prices are due to supply issues and are only temporary.

Meanwhile, new COVID-19 cases in the country reached 5,000 on Saturday, pushing the total number of active cases to hit 616,611. The country’s death toll from the virus hit 12,766.

On the other hand, the second trader said the T-bill rates will likely rise at today’s auction as they track the climb in US Treasury yields.

The second trader added that the weakening peso could also push rates up during Monday’s auction.

“On the demand side, there is a consistent demand for T-bills,” the trader added.

The BTr last week borrowed P20 billion as planned via the T-bills from P44 billion in bids even as rates continued to increase across the board following data showing quicker February inflation.

Broken down, the BTr raised the programmed P5 billion from the 91-day debt papers as demand reached P14.467 billion. The three-month papers fetched an average rate of 1.139%, up by 9.9 bps from 1.04% logged in the previous auction.

It likewise borrowed P5 billion as planned via the 182-day T-bills from P10.915 billion in bids. The average rate for the six-month debt also went up by 9 bps to 1.316% from 1.226% previously.

Lastly, the Treasury made a full P10-billion award of the 364-day securities from tenders worth P18.62 billion. The one-year T-bills were quoted at 1.852%, up by 17.2 bps from the previous rate of 1.68%.

At the secondary market on Friday, the 91- 182- and 364-day T-bills were quoted at 1.2379%, 1.3413%, and 1.854%, respectively, based on PHL Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

The BTr wants to raise P160 billion from the local bond market this month, broken down into P100 billion in T-bills to be offered weekly and P60 billion via fortnightly auctions of Treasury bonds.

The government is looking to borrow P3 trillion this year from local and foreign lenders to help fund its budget deficit that is seen to hit 8.9% of gross domestic product. — Beatrice M. Laforga

Style (03/15/21)

Linen looks from Marks & Spencer

LINEN fabrics are perfect for the warm weather ahead as it keeps the wearer cool and comfortable with its long-lasting premium breathable material. Linen is easy to care for and stays in shape even after repeated washes. Marks & Spencer (M&S) now offers understated pure linen and linen blend clothing, with easy to iron finish. There are contemporary linen blend dresses with easy to iron and feature Cool Comfort finish technology this summer. Pair a dress with sneakers or sandals for a casual look or put on either a pure linen single breasted blazer or a relaxed ruched linen blend blazer for business meetings online. There are also shorts and ankle-grazer trousers for easy movement. Pair these with a linen buttoned top crafted from pure European flax for that premium soft feel. M&S linen for women is available in stores or one can purchase them safely from home at bit.ly/MSPH-linen or by joining the M&S Viber Community at bit.ly/MSPH-VC. To get the latest updates, follow Marks and Spencer at facebook.com/MarksandSpencerPH, Instagram @marksandspencerph. Shop for M&S food, womenswear, menswear, lingerie and beauty products online at marksandspencer.com.ph.

Kate Spade launches the Knott handbag

INSPIRED by the notion that a woman’s handbag carries her entire world (and more), Kate Spade New York has launched the new Knott Handbag group for Spring 2021. Created in pebbled leather with a subtle knot detail at the gusset, the assortment features cinched sides and multiple inside pockets, giving equal amounts of style and function. This handbag from the spring collection is available in a variety of bold colors and classic prints to appeal to a range of personal styles. Creative Director Nicola Glass says, “When designing the Knott handbag, our top priority was to create a bag that would work for any woman — no matter if she’s starting a new job or exploring a new neighborhood. The Knott reflects everyday style with a pop of color and clever design details, like the beautiful knot that cinches the gusset. It’s the bag that ties it all together.” Available in four sizes — mini, small, large, and extra-large — the satchel has an optional, adjustable crossbody strap. In the Philippines, Kate Spade New York is available at Central Square in Bonifacio High Street Central, Greenbelt 5, Power Plant Mall, Rustan’s Makati, Shangri-La Plaza, and Rustan’s Cebu, also online at Trunc.ph, Rustans.com, Zalora, and Lazada.    

Ayala Malls celebrate Women’s Month

AYALA Malls celebrate women’s month with promos, discounts, and activities including a special webinar. The webinar, “Uplift: Conversations with Filipina Movers,” is a Women’s Month Special by Ayala Malls sponsored by Philam Vitality, the health and wellness rewards program of Philam Life, and done in partnership with The SHEeo Society, an organization that empowers modern women entrepreneurs by providing them with a community, a support system, and a platform for the exchange of ideas. The first webinar topic is called “#GlobalSHEeo,” a modern Filipina’s guide to being fearless and to fear less. It will be hosted by brand and marketing strategist, Jane Dee. She is the SHEeo of Beyond Beauty Global in Hong Kong. The second is “On Being a Fearless SHEeo,” which talks about fearlessly launching an intentional brand and growing the business amidst the pandemic. It will be hosted by entrepreneur, SHEeo of Wellsmith PH, and COO of Fieldtech Specialist, Inc. The third is “Passion Fuels Purpose,” hosted by Roxanne Ang-Farillas, Founder and Creative Director of local fashion giants Plains & Prints and R.A.F. She will talk about discovering personal passions and finding one’s purpose. Lastly, “The Rise of Holistic Filipina Leaders” lets the audience take a peek into a day in the life of a Filipina entrepreneur and Co-Founder of Happy Skin Cosmetics, Rissa Mananquil-Trillo. Spots are limited at this one-day event happening on Mar. 20, 4 p.m., via Zoom. Sign up at the registration link to attend the webinar: https://bit.ly/AyalaMallsUplift. Ayala Malls will also host Pop Up Fairs featuring beauty and fashion brands at the Activity Centers of the participating malls including UP Town Center (Mar. 5 – 14), Glorietta (Mar. 8 to 16), Marquee Mall (Mar. 8 to 21), Ayala Center Cebu (Mar. 8 to 31), Circuit (Mar. 12 to 28), Harbor Point (Mar. 12 to 30), TriNoma (Mar. 15 to 21), Fairview Terraces (Mar. 19 to 21), Solenad (Mar. 19 to 21), Alabang Town Center (Mar. 26 to 28), Legazpi (Mar. 26 to 30), Greenbelt, Vertis North, and Centrio.  Never miss an opportunity for self-care with Flawlessly Female, a subscription-based promo featuring monthly self-care treatments and packages at participating service, beauty, and skincare stores from Mar. 1 to 31. The Online Catalogue features exclusive promos from Happy Brows, Hey Sugar Waxing Salon, Laybare, nail.a.holics, Ooh La Lash, Passionails, and Vivere Salon. Furthermore, ladies can glow up with beauty must-haves from Beauty Bar, L’Occitane, The Body Shop, The Face Shop, and Yves Rocher. Check out the Online Catalogue to find out more about Ayala Malls’ Women’s Month promos. Visit https://bit.ly/AMWomensMonthPromos or scan the QR code. For more information on ongoing promos, mall events, and safety measures, visit Ayala Malls https://www.facebook.com/AyalaMalls360/ or Instagram @iloveayalamalls.

Young fashion designers show work in virtual gallery

EYE-CATCHING and innovative fashion creations will take center stage in the three-week Sinulid Virtual Gallery, an online exhibit of student-artists. Sinulid is the annual culminating event that spotlights the artistry and craftsmanship of the members of the graduating class of Fashion Design and Merchandising Program of the De La Salle-College College of Saint Benilde School of Design and Arts. This year the show goes virtual. It will depict diverse perspectives and interpretations on the evolution and identity of the modern Filipino. It will likewise display ensembles influenced by Philippine heritage and tradition and current social and environmental issues. Included in the exhibit are Pamela Madlangbayan’s combination of the traditional Filipino clothing and balikbayan box-inspired graphic embellishments, Eunhye Cho’s installation influenced by the Philippines and Korea, Shanica Sy’s incorporation of unique wood carvings and Mindanao patterns, and Raya Abastillas’ reintroduction of the Filipino sabong (cockfight) culture. Notions and discussions on femininity and sexuality take shape through Angela Denise Santos and Sean Carlo Betco’ works, while Angelica Achacoso sheds light into the glorification of resilience. Shayne Casi’s work is an encapsulation of biblical stories and intricate details and symbolism of Philippine folklore, while Kc Roshelle Dayao’s and Adrienne Carmela Cruel’s are individual expositions of local mythical creatures, and Gianina Dwaigne Lilagan’s is a translation on the idea of death, life and reincarnation. Also on view are Erika Mae Ng’s discussion on issues and the innate beauty of Philippine agriculture, Miri Hwang’s adaptation of futuristic post-nuclear style, Coleen Aytona’s reimagination of resin discs as theoretical clouds of icy comets, sea elements-inspired children’s wear by Katrina Rivera, and an ensemble of nostalgic origami love letters by Tricia Butler. The Sinulid Virtual Gallery will be available to view starting Mar. 20 through this link: sinulid-epilogue-20-21-gatewaygallery.aranetacity.com.

Makeup items at P38 for Ever Bilena’s 38th anniversary

MARCH is Ever Bilena’s birthday month, and as it is now marking its 38th year, the cosmetics brand is treating makeup lovers to a blowout sale offering P38 or 38% off on select Ever Bilena, Ever Bilena Advance, and Careline makeup items until Mar. 31. These include Ever Bilena and EB Advance’s best sellers like the EB All Day Eyeliner Pen, Eyeshadow Palette, EB Lip & Cheek Stain, EB Lip and Cheek Roller, EB Matte Long Lasting Dip Liner, EB Matte Nudes Lipstick, Ever Bilena Fix Curl Mascara, Ever Bilena Sculpt and Strobe Stick, and so many more, which are all priced at P38. Meanwhile enjoy 38% off the regular prices of EB Liquid DipLiner, Ever Lip & Cheek Tint, EB Matte Color Stick, EB Blush Rush Cheek Roller, EB Advance Absolute Matte Lipstick, Advance Vinyl Lip Gloss, Careline Diamond Dream Highlighter, and Careline Soft Suede Lipstick. Participating stores are: All Day, Landmark Trinoma, Landmark Makati, Landmark Alabang, Landmark Nuvali, Alturas Group, Ever Department Store, Ever Supermarket, Gaisano Capital, Gaisano Fresh and Easy Stores, Gaisano Grand Department Store, Gaisano Grand Supermarket Store, Gaisano Main Group, Gaisano Metro, Gaisano Metro-Super Metro, Isetann Department Store, Isetann Supermarket, LCC Department Store, LCC Supermarket, NCCC Department Store, NCCC Supermarket, Puregold, Puremart, Robinsons Department Store, Robinsons Supermarket, Savemore, Shopwise, SM Hypermarket Southstar Drugstore, Sta. Lucia Department Store, Super 8 Supermart, SM Supermarket, Supervalue, The Marketplace, Waltermart Department Store, Waltermart Supermarket, Alfamart, Centro Department Store, SM Beauty Department Store, Watsons Mall, Fishermall Department Store, Mart One, Ace Centerpoint, Best Emporium, Gaisano CDO Group, Gaisano Davao, JS Gaisano, KCC Shopping Center, Lee Plaza Dipolog, LTS Southwoods, Fisher Mall Supermarket, Magic Department Store, Magic Supermarket, Metro shoppers, Storezone, Inc., and Superama. To know more, follow Ever Bilena’s official Facebook page (@everbilenacosmetics) and Instagram (@everbillenofficial).

Poultry farmers, meat industry clash on easing of import bans

MEAT IMPORTERS’ proposals to ease the bans on poultry imports from countries reporting bird flu outbreaks could endanger domestic poultry farms because of the absence of border inspection facilities to detect contaminated meat, the poultry industry said.

Gregorio A. San Diego, Jr., chairman of the United Broiler Raisers Association, said in a mobile phone message that if the proposal is approved, it would increase the risk of poultry farms being infected with highly pathogenic avian influenza, otherwise known as bird flu.

“That would be dangerous… We do not have border inspection facilities. A lot of the exporters are consolidators. They are sourcing meat from different parts or zones of their countries and sometimes nearby countries,” Mr. San Diego said.

The food industry’s proposal is to ease blanket banks on countries with bird flu outbreaks and instead allow imports from parts of the source country with no cases of bird flu.

On March 12, the Meat Importers and Traders Association (MITA) sent a letter to the Department of Agriculture (DA) calling for the easing of poultry import bans. MITA President Jesus C. Cham said in the letter that the international health certificate accompanying the imports should indicate that testing was performed, confirming that no traces of bird flu were detected.

“The supply situation has become very tight as a result of the numerous bans. We recall that this procedure was last adopted in 2017. The approval will go a long way in ensuring the continuous supply of poultry,” Mr. Cham said in the letter.

Mr. San Diego noted that the Philippines is currently grappling with the African Swine Fever outbreak, while the economy remains weighed down by the coronavirus disease 2019 (COVID-19) pandemic.

The latest ban on poultry imports was imposed on March 5, with the suspension of shipments from the UK, after outbreaks in Scotland, Northern Ireland, and Wales. Previously, the DA had banned poultry imports only from England.

Some of the other countries with outstanding poultry import bans include the Netherlands, Germany, and Poland.

Agriculture Secretary William D. Dar announced during a March 12 virtual briefing that the DA is looking into allowing imports from unaffected regions of a country with an ongoing outbreak.

“We are looking at the possibility of giving permits as long as we confirm that there is no incidence of the virus in these areas,” Mr. Dar said.

According to the Bureau of Animal Industry, chicken imports totaled 16.94 million kilograms as of Jan. 31. — Revin Mikhael D. Ochave

Canon expands to automation business as firms go paperless

By Arjay L. Balinbin, Senior Reporter

CANON can no longer rely on its hardware products alone, such as copiers, printers, and scanners, because many organizations have gone paperless due to the pandemic, a company official said.

“Traditionally, we counted on our hardware business; now, we are expanding our business by offering digitization and automation service and security solutions,” Yasuhiko Shiraki, head of Canon Marketing (Philippines), Inc. Business Imaging Solutions, told BusinessWorld in a recent online interview.

More than 80% of the company’s revenue came from its hardware business prior to the pandemic. “During the pandemic, our hardware business dropped to some extent, and then we realized that we could not survive with it so we started offering new products,” Mr. Shiraki said.

He noted companies reduced their printing to a “great extent” during the pandemic because of the work-from-home setup and even the mobile working.

“Print volume was our bread and butter… The more people print, the more we can get revenue and profit,” he said.

“Even people are now working from home, we have to make our organization sustainable and profitable,” he added.

Asked when the company’s new products and services would become profitable, he said: “I think this year, we can make it happen.”

The company recently launched a security solution called Facial Access Control Temperature System or FACTS.

“From March to June last year, we were forced to work from home. But in July, we gradually started to go back to the office, but we needed to set up a safety protocol, including temperature checks and filling out health check forms every morning. We saw there were long queues to fill out forms, so we decided to set up FACTS,” Mr. Shiraki said.

What the device does is automatic contactless temperature screening with facial detection.

FACTS, which is equipped with infrared thermography, can achieve a “highly accurate reading of the user’s body temperature with a deviation of ±0.3 to help track and safeguard employees from the coronavirus disease 2019 (Covid-19),” Canon said.

The device, which can be fully customized, allows businesses to keep track of their employees and visitors for contact-tracing purposes. It is also capable of scanning company IDs to help expedite employees’ check-in.

Mr. Shiraki noted Canon is not reducing nor abandoning its hardware business.

“We don’t have any intention to reduce the hardware business. We are just expanding our solutions business in addition to our hardware business,” he said.

Canon Philippines recently partnered with the Department of Education (DepEd) for its production of learning modules.

“In our correspondence with the Region XI DepEd division, module production has been reduced by 50% with Canon’s smart sorting module printing services. We are looking forward to a longer partnership with DepEd in improving and enabling effective education in the midst of the new norm,” the company said.

Thinking about trying collagen supplements for your skin? A healthy diet is better value for money

CELEBRITY testimonials abound for pills, potions and creams that purport to make you look younger.

This time collagen supplements are in the spotlight, after Jennifer Aniston became the face of one wellness brand’s collagen campaign in late 2020.

While some research has found benefits of collagen supplementation for some aspects of skin health, it’s a case of buyer beware. The evidence is generally weak, with many of the studies claiming to find positive effects from collagen supplementation funded mostly by industries that manufacture these products. Therefore, the results need to be interpreted with caution.

When you’re reading articles promoting these products, be especially wary of phrases such as “we may receive compensation for some links to products and services.” These statements often mean the publication has negotiated some kind of payment for featuring products in its editorial coverage. Therefore, what you’re reading isn’t necessarily an independent evaluation of the product’s effectiveness.

Rather than spending a lot of money on collagen supplements that promise to defy signs of ageing, smooth wrinkles and renew your skin, spend it on healthy food. You will get better value in terms of your health and well-being in the long-term.

Normal ageing is associated with loss of connective tissues within the skin, leading to a reduction in elasticity and development of wrinkles and creases.

A 2019 review of collagen supplements, conducted by US university researchers, found four of the five studies included had reported some degree of improvement in some skin variables.

This included improvements in: skin moisture and collagen density; skin hydration, wrinkling and elasticity; skin elasticity but not moisture content; and skin moisture, elasticity, wrinkles and roughness.

Across the studies, closer scrutiny of the methods by the reviewers found many were rated as being of low methodological quality. The reviewers flagged a number of limitations of the studies. These included that the supplements differed across the trials, as did the types of people included in the studies, meaning you can’t compare results between trials.

It also wasn’t clear how the results translated to actual changes in skin appearance and whether this was noticeable to other people.

Amino acids needed to make collagen can be found in other foods containing protein. There’s no reliable evidence amino acids in collagen supplements speed up the process by which the body makes collagen.

What’s more, most of the studies were either fully or partly funded by cosmetic or supplement companies. This means the results of the research should be interpreted with caution, especially when the affiliation statement shows the study authors were also employed by the supplement manufacturer. Further high quality, independent research studies are needed.

Collagen is the major structural protein in skin and other connective tissues such as cartilage, bone, tendons and ligaments.

It has a triple helix structure. Imagine three slinkies coiled around each other, and that’s roughly what collagen looks like.

The triple helix shape makes it very strong and flexible.

Vitamin C is essential for the chemical pathway that makes collagen in the body. Without adequate Vitamin C, the collagen would be unstable, meaning the coils would unfurl, and you would develop scurvy.

Before you grab a bottle of collagen supplements, you may want to consider where it came from. Rich sources of collagen include pig skin, cattle hide, pork and cattle bones, tendons and cartilage, chicken cartilage, and fish scales.

A 2019 survey reported 37% of Australians spent up to A$20 a month on cosmetics and personal care, with 26% spending between $21-50 and 15% spending $51-200 a month. A bottle of collagen supplements costs anywhere between roughly A$15-20 to over $100. Each capsule, or per serve, contains roughly between half a gram up to five grams of collagen.

By comparison, you can get better value for money by eating foods rich in protein like meat, chicken, fish, eggs, milk, cheese, nuts, tofu, dried beans, and legumes. This will provide the amino acids your body needs to make collagen.

Because collagen would be unstable without Vitamin C, it’s also important to regularly eat foods rich in it. Good sources include broccoli, Brussels sprouts, capsicum, tomatoes, spinach, kiwifruit, lemons, and oranges.

Also aim to regularly eat foods rich in other nutrients needed to help keep skin healthy. This includes:

Zinc, which is found in seafood, meat, chicken, dried beans and nuts. Inadequate zinc intake can lead to skin conditions including acne and some types of dermatitis.

Vitamin A, from oily fish, egg yolks, cheese, tofu, nuts, seeds, whole grains, and legumes. Vitamin A helps immature skin cells develop into a mature skin layer which forms the body’s first layer of protection. “Beta-carotene” found in vegetables can be converted into Vitamin A in the body. Good sources include pumpkin, carrots, and leafy green vegetables, and foods rich in polyphenols. These are small chemicals found in vegetables, fruit, herbs, and spices that help plants grow well or protect them from pathogens. Studies suggest higher intakes are associated with slowing some of the skin damage caused by exposure to the sun.

If you’re interested in recipes that are fast, inexpensive and designed to help promote healthier skin, check our No Money No Time website, which we developed at The University of Newcastle.

 

Clare Collins is a Laureate Professor in Nutrition and Dietetics at the University of Newcastle

Indonesia draft law seeks to increase gov’t influence in central bank policy

INDONESIA is pursuing another attempt at increasing government influence in the decision making and operations of its central bank, as well as expanding its ability to fund public debt, according to a draft legislation to be discussed in parliament.

A proposed omnibus financial sector reform bill would require Bank Indonesia to take into account the government’s broad economic strategy when making monetary policy decisions, according to a copy of the bill reviewed by Bloomberg. The central bank’s mandate would also be extended to promoting job creation, supporting sustainable economic growth and keeping stability in the financial system.

Bank Indonesia declined to comment. A finance ministry officer, Yustinus Prastowo, said a draft is in the works.

This is the second time Southeast Asia’s largest economy has attempted to increase the government’s oversight of the central bank, with an earlier measure put forward and ultimately shelved last year after investor pushback. Similar moves to expand central bank responsibilities have been made elsewhere in the region, with South Korea urged to include employment and New Zealand to consider housing prices.

CENTRAL ROLE
Like many countries, Indonesia has leaned on its central bank to absorb the blow dealt by the pandemic. Bank Indonesia has since delivered successive interest-rate cuts, relaxed lending rules, and helped shoulder the largest budget shortfall since the Asian financial crisis. As the pandemic fallout looks set to continue to 2021, threatening the government’s 5% growth goal, monetary authorities could come under renewed pressure to do more to support the economy.

Policy makers will meet next week, and all economists surveyed by Bloomberg forecast the key rate to be kept unchanged.

The draft measure also lays down a new framework for the central bank to finance government debt, initially a one-off move that was allowed last year as the pandemic drained state coffers. During times of financial crisis, Bank Indonesia may directly purchase bonds in the primary market and repurchase government securities held by private companies through banks, the draft rules show. It can also reverse-repurchase debt papers from the Indonesia Deposit Insurance Corporation to address any liquidity issues in the banking sector.

“This measure aims to strengthen the safety net of the financial system, which includes optimizing the mechanism for handling banking problems, strengthening coordination, and restructuring the authority of Bank Indonesia, the Financial Services Authority, and the Deposit Insurance Corporation,” it read.

REJECT, IGNORE
To be sure, the bill says Bank Indonesia can “reject and/or ignore any form of interference from any party in the context of carrying out” its duties. Other parties are likewise “prohibited from engaging in any form of interference in the implementation of Bank Indonesia duties,” except for matters expressly regulated by the law.

“The independence of the central bank is very important in maintaining a prudent, credible and effective macro policy framework to achieve the goal of safeguarding the economy together with the government,” the bill read, adding that monetary policy must be kept “objective and free from political interests.”

Other highlights of the draft legislation include:

– Proposes the creation of a supervisory board of Bank Indonesia and the Financial Services Authority. The board, comprised of three members selected by the President and two by the parliament, will have the power to evaluate all policies taken by the two organizations, save for monetary policy decisions.

– A separate Integrated Banking Supervision Forum will be established among the central bank, banking watchdog and state deposit insurer to monitor the banking sector and formulate policy recommendations to address any problems.

– The Financial Services Authority will be tasked to conduct their own macroprudential policies for the capital market and non-bank financial industry. It should also support Bank Indonesia’s macroprudential policies and assess the systemic impact of financial conglomeration.

– The banking regulator can also give written orders to financial institutions to carry out mergers, consolidations, acquisitions, integrations or conversions. It can also exempt certain parties from the obligation to implement the principle of transparency in the capital market to prevent and resolve financial crises. — Bloomberg

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