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AI-powered contact tracing system in talks with LGUs, establishments

CAWIL.AI Solutions, an industry-agnostic artificial intelligence (AI) social enterprise, is in talks with the local government units (LGUs) of Calapan City and Quezon City for pilot testing a contact tracing system that will help offices and public areas enforce health protocols—such as physical distancing and the wearing of face masks and face shields—to prevent the spread of coronavirus disease 2019 (COVID-19). 

“The requirement for LGUs to be able to adapt to the system is a working CCTV camera or an Internet Protocol (IP) camera, which is already mandated in every local government,” said Cherry B. Murillon, CAWIL.AI’s founder and lead innovator. Other requirements are internet access and subscription to their system, which starts at P500,000 for one year, and covers the installation of two cameras per location. 

“We hope that all establishments—and not just LGUs—could adapt the automated system without compromising data privacy,” she added. “It is important to really know what data the government collects and how it is being used.”

The artificial intelligence (AI) and data analytics-powered system was developed using computer vision technology from pre-installed closed-circuit television (CCTV) cameras. Using data gathered from CCTV videos, the system can determine whether a location is operating at the capacity required for physical distancing, usually 50% of actual capacity. 

A COVID-19 map also provides information on the proximity of people, which can then be printed out or generated for reference on possible overcrowding. The system was tested in SM City North EDSA’s Annex, a mall known for its high density of human traffic.

“The data we gather is the number of people that pass through the entries and exits of a public establishment,” said Ms. Murillon. “We can alert the establishment if the number of people has exceeded the physical distancing requirement.” 

She added that the system does not breach data privacy because it does not collect personal data, and that it is more useful than sharing information on health declaration forms with no actionable input. “Contact tracing’s goal is prevention. Collecting names and contact numbers will not prevent the spread of the virus, regardless if it’s paper-based or through Quick Response (QR) codes.”

Data is protected in the cloud and is encrypted depending on the level of access the establishments prefer. All data will be turned over to the establishments at the end of each subscription year to prevent fraud. 

CAWIL.AI received a grant from the Innovation for Social Impact Partnership’s Innovative Solutions Grants Facility. — Patricia B. Mirasol

SM City Manila presents Ray of Hope: Feast of the Black Nazarene 2021 photo exhibit

Catch the exhibit from January 7-24, 2020 at the Event Center, UGL.

Ray of Hope: Feast of the Black Nazarene 2021 aims to showcase stories of HOPE, resilience and optimism as we navigate a new reality is the theme of this year’s exhibit.
Shoppers, and devotees of the Nazarene are invited to see the exhibit of photos from local community photography groups including Canon Photographers PH.

ABS-CBN Corporation announces schedule of stockholders’ meeting

NOTICE OF SPECIAL STOCKHOLDERS’ MEETING

To:          All Stockholders of ABS-CBN Corporation

Please take notice that a Special Meeting of the Stockholders of ABS-CBN Corporation will be held virtually or conducted through remote communication via https://abs-cbn.com/investors/SSM2021 on February 2, 2021 at 9:00 a.m. or if prevailing circumstances will allow, at the Dolphy Theatre, ABS-CBN Corporation Broadcast Center, Quezon City to discuss the following:

A G E N D A

  1. Call to Order
  2. Proof of Service of Notice
  3. Certification of Presence of Quorum
  4. Approval of the ABS-CBN Stock Purchase and Stock Grant Plans
  5. Other Business
  6. Adjournment

For purposes of the meeting, only stockholders of record as of January 11, 2021 are entitled to attend and vote in the said meeting.

Given the current circumstances, stockholders may only attend the meeting by remote communication, by voting in absentia, or by appointing the Chairman of the meeting as proxy, unless otherwise announced by the Corporation that physical meeting will be allowed.

Online participation and voting by remote communication will be available for all stockholders. Stockholders who wish to participate and vote online by remote communication will be required to register starting January 12, 2021 and until  January 26, 2021. Stockholders who are not able to register as of January 26, 2021, can no longer avail of online voting but may still participate by remote communication, provided such stockholders shall register not later than January 26, 2021. The Registration and Validation Procedures for the 2020 Special Stockholders Meeting (Virtual SSM) are set out below as Annex “A”, as attached to the Notice and Agenda. Stockholders intending to participate by remote communication should register at https://abs-cbn.com/investors/SSM2021.

All stockholders who will not, are unable, or do not expect to attend the virtual meeting in person may choose to execute and send a valid proxy in writing to the Office of the Corporate Secretary, at 11F Investor Relations Office, ELJ Bldg. Mother Ignacia St. Quezon City or by email at corporatesecretary@abs-cbn.com or in digital/electronic form at https://abs-cbn.com/investors/SSM2021 on or before January 26, 2021.  Proxies shall be validated beginning on January 27, 2021.

Pursuant to SEC Notice dated April 20, 2020, copies of this Notice, Information Statement, and Other Documents related to the Special Stockholders’ Meeting, shall be published through The Philippine Star and BusinessWorld.

January 12, 2021,

By order of the Board of Directors:

                

 

ENRIQUE QUIASON
Corporate Secretary

‘Remarkable’ rebound seen this year

THE WORST is over for the pandemic-hit Philippine economy, and a “remarkable rebound” is expected this year, the central bank chief said on Tuesday, adding that the current accommodative monetary stance is sufficient for a revival in growth.

At the same time, Moody’s Investors Service raised its growth outlook for the Philippines to 7% this year from its 6.2% forecast given in September, but expects the country to be among the laggards in the Asia-Pacific region in terms of recovery.

“The worst is behind us. The recovery phase has begun,” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno told the Reuters Next conference, citing “green shoots” such as improvements in remittances and foreign direct investments.

Speaking ahead of the release of the 2020 GDP data on Jan. 28, Mr. Diokno said he also expected “solid” growth in the December quarter and “double-digit” growth in the second quarter of this year.

He added that “the current policy is sufficient to carry us through” after the economy suffered its first recession in nearly three decades in 2020.

Meanwhile, Moody’s said pandemic-related restrictions will prevent the Philippines, along with India, Hong Kong and Singapore, from recovering to 2019 output levels this year.

In an e-mailed response to BusinessWorld, Christian de Guzman, senior vice-president of Sovereign Risk Group at Moody’s, said the Philippine economy is expected to grow by 7% this year, well within the 6.5% to 7.5% estimate by economic managers. This also matches Moody’s 2021 gross domestic product (GDP) growth forecast for Malaysia (7%) and is faster than Thailand’s (4%) and Indonesia (4.7%) but slower than Vietnam (7.2%).

Moody’s expected the Philippines’ GDP to have contracted by 8.7% in 2020.

Mr. De Guzman said the outlook for the Asia-Pacific region this year is still clouded by downside risks from rising coronavirus disease 2019 (COVID-19) infections.

“The vaccine helps to balance out those risks. It does lead to perhaps some improvements in consumer confidence as compared to what we’ve seen before,” Mr. De Guzman said.

The debt watcher noted the Philippines and Indonesia are among lower-rated economies that saw greater local transmissions despite moderate assessments for governance. This is in contrast to Vietnam where policy effectiveness kept infections low despite its lower score for institution and governance strength.

Local infections rose 1,524 on Tuesday to bring the total to 491,258. Active cases reached 23,532.

“In sovereigns where infection rates remain relatively high, such as in India, Indonesia and the Philippines, the pressure on governments to tamp down the pandemic has sidelined progress on fiscal reform,” Moody’s said.

Moody’s affirmed its sovereign rating of “Baa2” with a stable outlook for the Philippines in July last year, citing this reflects the country’s strong fiscal position in recent years will safeguard it from the impact of the virus.

VIRUS RESURGENCE
Meanwhile, a possible resurgence of coronavirus infections in the country could “expose the limited funding allocation towards the pandemic response and lead to a wider budget deficit,” Fitch Solutions Country Risk & Industry Research said in a note on Tuesday.

In a commentary titled “Healthcare Funding Shortfall in Philippines’ 2021 Budget,” the think tank said only P221 billion or 4.9% of the P4.5-trillion national budget has been allocated for the Philippines’ pandemic response.

“Given that the Philippines has experienced the second-highest fatality rate in the South East Asia region, after Indonesia, and the discovery of more contagious strains in the UK and South Africa, the Philippines remains vulnerable to another surge in COVID-19 cases,” it said.

“We expect the Philippines to lag behind other Asia-Pacific economies in securing vaccines for the population, which will mean risks remain elevated through 2021,” it added.

Last year, government spending for the pandemic response and economic stimulus was criticized for being relatively small compared with its Southeast Asian peers.

The Philippines’ COVID-19 response package is estimated at $21.645 billion or 5.9% of GDP last year, based on a policy database compiled by the Asian Development Bank (ADB). This placed the country’s package as the sixth largest in terms of the total amount but the fourth smallest in terms of its size relative to economic output.

“We highlight the risk that the economy could face with further COVID-19 outbreaks that divert funds towards the pandemic response and suppress revenue, thereby worsening the fiscal outlook and the budget’s ability to drive a recovery,” Fitch Solutions said.

The National Government’s budget deficit reached 7.5% of GDP last year, more than double the 3.4% fiscal gap ratio in 2019 but slightly below the 7.6% cap set by economic managers. — Reuters, Luz Wendy T. Noble and B.M.Laforga

Budget deficit soars to record high in 2020

By Beatrice M. Laforga, Reporter

THE National Government’s budget deficit ballooned to 7.5% of gross domestic product (GDP) last year from 3.4% in 2019, but slightly below the cap set by the economic team, as spending increased and revenues slumped amid the coronavirus disease 2019 (COVID-19) pandemic.

In a speech at the virtual meeting of the Management Association of the Philippines (MAP) on Tuesday, Finance Secretary Carlos G. Dominguez III said preliminary data showed last year’s budget deficit reached P1.36 trillion or equivalent to 7.5% of GDP, more than double the 3.4% deficit-to-GDP ratio in 2019.

Last year’s fiscal gap surged to a fresh all-time high, or twice as much as the previous record of P660 billion in 2019.

However, the 2020 deficit was still slightly below the P1.38 trillion or 7.6% of GDP limit set by the Development Budget Coordination Committee (DBCC) in December.

Broken down, Mr. Dominguez said overall spending reached P4.205 trillion last year, up 11% from P3.797 trillion in 2019. The total expenditures were 0.66% below the P4.233-trillion goal.

The Finance chief said total revenues reached P2.842 trillion, down by 9.5% from P3.138 trillion a year earlier, and 0.39% short of the P2.853-trillion target. Tax collections accounted for 87.6% of the total.

“We appreciate the importance of continuing fiscal discipline to ensure the resilience of our economy. The public health emergency could last for months or possibly years. The battle against COVID-19 is going to be a marathon, not a sprint. While we hope for the best, we must be prepared for the worst,” Mr. Dominguez said.

To plug the funding gap, the government borrowed P2.64 trillion from local and foreign lenders last year, excluding the P540 billion borrowed from the Philippine central bank which has been fully settled last month.

This pushed the country’s debt stock to 53.5% of GDP at the end of 2020, surging from the record low 39.6% in 2019 but lower than the projected 53.9% level for the full year.

The DBCC has capped the fiscal deficit to 8.9% of GDP for 2021, with gross borrowings seen to reach P3.03 trillion.

“We expect the National Government’s debt to settle at 57% of GDP this year. Even with the upscaling of our borrowing plan, we will still be able to keep our debt ratio within a sustainable threshold. This gives us the advantage over economies who were already saddled with heavy debt prior to the crisis,” Mr. Dominguez said.

“We remain confident that we can easily fulfill our funding requirement for this year,” he added.

ING Bank N.V. Manila Branch Senior Economist Nicholas Antonio T. Mapa said the data showed that earlier estimates of the economic team that the deficit will hit as high as 9% of GDP is not possible, proving the government still has enough fiscal room to boost spending to prop up the economy.

“We will expect the deficit-to-GDP ratio to beat its target yet again as the government continues to rein in spending to maintain its fiscal metrics,” Mr. Mapa said via e-mail on Tuesday.

University of Asia and the Pacific Senior Economist Cid L. Terosa said the “shortfall in the revenue and spending programs of the government would have shoved 2020 GDP growth a bit higher because of its inherent potential multiplier effects and capacity to expand production, employment, and income.”

Mr. Terosa also expects the government to reach the budget deficit cap this year, highlighting the need to boost spending to help the economy recover faster.

“Lack of spending (in 2020 and this year), however, will mean that the Philippine economy will likely remain stuck in low gear with both household spending and capital formation still impaired by the ongoing recession,” Mr. Mapa said.

DoF supports further opening of economy

The House of Representatives is seeking to ease economic restrictions of the 1987 Constitution for ratification at a plebiscite that will coincide with the 2022 national elections. — PHILIPPINE STAR/MICHAEL VARCAS

FINANCE Secretary Carlos G. Dominguez III said he is open to amending the restrictive economic provisions of the 1987 Constitution, as House lawmakers are set to begin deliberations on Charter change today (Jan. 13).

Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua wants to further open up the Philippine economy, but urges Congress to focus on the urgent passage of priority bills meant to attract more foreign investments.

“I’m for really opening up the economy in all areas possible, with the exceptions of land ownership [because] the issue of land ownership is so emotional… so let’s do something doable,” Mr. Dominguez said during a virtual meeting of the Management Association of the Philippines (MAP) on Tuesday.

Among the sectors that should be further opened to foreign investors are the retail trade and construction industries, he said.

“There are many areas that need to be opened. Opening up the economy challenges the local production and they respond positively if there is good support. This is why I think we should look at the Constitution and open as much as possible,” Mr. Dominguez said.

The House Committee on Constitutional Amendments is set to open deliberations on the proposed Resolution of Both Houses (RBH) No. 2, which seeks to amend economic provisions of the 33-year-old Constitution in a bid to attract more foreign investments.

Asked for his position on Charter change, Mr. Chua said lawmakers should first prioritize pending bills such as amendments to the Public Service Act (PSA), Retail Trade Liberalization Act (RTL), and Foreign Investment Act (FIA).

“We have to prioritize the PSA, RTL and FIA amendments as these are urgently needed to help attract more investments and create jobs,” Mr. Chua said via Viber on Monday.

Budget Assistant Secretary Rolando U. Toledo said in a Viber message that the economic team is pushing for the urgent passage of the three bills.

“These bills will help promote a more sustainable and resilient external sector, whilst increasing the inflow of foreign investments and generating more jobs for the Filipino people,” Mr. Toledo added.

The three bills have been approved on third and final reading at the House of Representatives.

Their counterpart measures in the Senate, however, are still in various levels of deliberations: with the bills amending the PSA and FIA still at the committee level while the proposed changes to the RTL are at the second reading.

POST-ELECTION ‘CHA-CHA’ URGED
Meanwhile, the Makati Business Club (MBC) said pursuing charter change at this time would be “highly divisive” amid national efforts to address the effects of the pandemic.

“We believe that introducing any Charter change fifteen months before presidential elections will only raise fears that other constitutional changes, some of which may be highly controversial, may be introduced and passed,” the business group said in a statement on Tuesday.

The House of Representatives is seeking to ease economic restrictions of the charter for ratification at a plebiscite that will coincide with the 2022 national elections. Congressmen want to insert provisions in the Constitution that will later allow them to pass a law relaxing foreign ownership limits in certain Philippine industries.

MBC is instead asking all major presidential and congressional candidates to commit to relaxing these restrictive economic provisions in the Constitution when they start their new term.

“(Candidates should) commit to initiate steps for the adoption of such provisions within the first 12 months of their term,” MBC said.

The Philippine Chamber of Commerce and Industry had earlier asked lawmakers to prioritize the passage of pending economic bills, warning against changes to the Constitution that could weaken it by making it easier for “ordinary legislation” to amend.

But American and European business groups in the Philippines supported the changes to improve the country’s competitiveness in attracting foreign investors and spur an economic rebound.

Albay Rep. Jose Maria Clemente S. Salceda said the country would earn as much as $7 billion in foreign direct investments each year if ownership restrictions in the Constitution are lifted. — Beatrice M. Laforga and Jenina P. Ibañez

Tourism revenues plunge as foreign visitors stay away

TOURISM REVENUES last year plunged 83% to P81.4 billion after pandemic-related travel restrictions kept foreign visitors away.

In a report released on Tuesday, the Department of Tourism said revenues slumped from the P482.16 billion recorded in 2019 after the number of foreign visitor arrivals plummeted almost 84% to 1.3 million.

Tourism Secretary Bernadette T. Romulo-Puyat said domestic travel will still be the focus for industry revival this year.

She said the local governments still decide on the reopening of tourist destinations, but the department recommended stronger and unified contact tracing among local governments.

“To standardize travel protocols and encourage movement, there is a need to harmonize the different LGU (local government unit) requirements. To ensure good traveler experience, protocols for each tourism activity should be developed,” Ms. Romulo-Puyat said.

Areas that have reopened tourist destinations include Manila, Boracay, Palawan, Cebu, Bohol, Baguio, and Ilocos Norte.

The government will be revisiting its National Tourism Development Plan 2016-2022, changing the targets as the country focuses on domestic tourism in the short term. The plan originally targeted 12 million foreign arrivals and 89.2 million domestic travelers by 2022.

For international tourism, the government is willing to partner with neighboring countries for potential travel bubbles, Ms. Romulo-Puyat said.

“International travel bubbles demand the strict enforcement of health and safety protocols at the destination countries. The proper infrastructure needs to be established and certified by both governments.”

The Philippines may only see a significant rise in foreign tourist arrivals starting late 2021 or early 2022 as uncertainty over the pandemic continues, Fitch Ratings said in October, noting that the country’s low dependence on inbound tourism should limit overall economic impact.

Inbound tourism expenditure accounted for 3% of Philippine gross domestic product (GDP) in 2019, while domestic tourism expenditure accounted for 16%. The tourism sector employed 5.7 million people that year.

Global financial industry association Institute of International Finance (IIF) said recovery would depend on the availability of the vaccine. The government is in talks with several vaccine manufacturers for 148 million COVID-19 vaccine doses to inoculate 50-70 million Filipinos this year.

The Philippine Travel Agencies Association expects some recovery as tourism corridors open by the first quarter of 2021, expecting more travel through the Holy Week and the summer.

But industry group Tourism Congress of the Philippines said recovery would depend on public reassurance of health safety as well as reasonable costs and ease of travel. — Jenina P. Ibañez

Airline revenues for first half to be ‘close to catastrophic’

By Arjay L. Balinbin, Senior Reporter

REVENUES of airlines in the first half of the year are expected to be “close to catastrophic,” aviation think tank Center for Asia Pacific Aviation (CAPA) said, as trunk routes will not be commercially viable.

“The revenue profile for airlines in this first half of 2021 looks something close to catastrophic, given that they’ve been holding their breath for so many months already,” CAPA said in an analysis posted on its official website on Jan. 11.

Some airline companies may see improvements in the second half of 2021, especially “towards the end of the year, but with only modest acceleration after the end of the first half,” it added.

The Philippines has so far banned the entry of residents from 28 countries, including the United Kingdom, United States, Japan, Germany, and Canada, where the more infectious variant of the coronavirus disease 2019 (COVID-19) has been detected.

The Presidential Palace announced on Tuesday that the travel ban will be expanded to residents from five more countries — China, Luxembourg, Oman, Pakistan, and Jamaica — starting Wednesday (Jan. 13) until Jan. 15.

CAPA Founder and Chairman Emeritus Peter Harbison was quoted as saying in the analysis that the current condition is best suited to low-cost carrier business models.

“They’re usually best positioned to benefit from the recovery process after a major shock. And the recovery will be led by domestic and international short haul leisure markets,” Mr. Harbison said.

He also said that trunk routes “will not be commercially viable.”

CAPA expects business travel to be at “as much as 50% of previous levels” in the second half of 2021.

Mr. Harbison also described the impact of the vaccine rollout on international aviation this year as “just a slideshow.”

“The rollout of vaccines will take many months, and we have already seen significant delays and clear indications of difficulties in the supply chain,” the aviation think tank noted.

“Vaccination priority is going to be given to categories who actually have, in most cases, lower travel propensity. The younger, healthier people will not receive vaccinations till later in 2021 — that’s if they receive them at all in 2021,” it added.

Mr. Harbison believes that “government subsidies are going to be needed to maintain core international truck routes, at least in the short term, because they’re going to be largely unviable at least until well into 2022.”

Low-cost carriers Cebu Pacific and Philippines AirAsia have both launched a “piso sale” offering to boost domestic travel.

Philippines AirAsia on Monday said it started seeing positive signs in domestic tourism.

In November last year, the Finance department said it was informed by the flag carrier, Philippine Airlines (PAL), of its plans to seek court protection from its creditors.

The airline sector is really “under severe stress,” Lance Y. Gokongwei, president and chief executive officer of Cebu Pacific’s listed operator Cebu Air, Inc., said recently.

PAL Holdings, Inc., the listed operator of PAL, saw its net loss hit P28.85 billion as of the third quarter of 2020, or more than three times the P8.49-billion loss recorded in the same period in 2019.

Cebu Air swung to a net loss of P14.69 billion during the January to September period, from the P6.77-billion profit it generated in the same period in 2019.

Vires, AG&P step up plans for LNG vessel, says DoE

Energy department ‘constrained to cancel’ project led by Dennis Uy

By Angelica Y. Yang

THE Energy department has identified Vires Energy Corp. and Atlantic Gulf and Pacific Co. (AG&P) as potential investors in a floating facility for imported gas, as the country prepares for the depletion of its sole supplier of the energy resource.

“Yesterday, we had a pre-application conference with Vires Energy, which plans to bring in an FSRU (floating storage and regasification unit) and also with AG&P, which has… an initial agreement with San Miguel (Corp.). They also intend to bring an FSRU,” Department of Energy (DoE) Assistant Secretary Leonido J. Pulido III told participants of a Senate hearing on Tuesday.

The DoE official made the statement in response to questions from Senator Risa Hontiveros-Baraquel, one of the lawmakers who attended the hearing on Senate Bill No. 1819, which seeks to pass the Midstream Natural Gas Industry Development Act.

Vires is a firm owned by Cagayan de Oro-based listed company A Brown Co., Inc. AG&P, which operates globally, is a Filipino company with manufacturing plants in Batangas.

An FSRU contains an onboard regasification plant, which can turn liquefied natural gas (LNG) back to gas. Natural gas is usually liquefied for ease of transport.

The DoE had earlier issued a permit to construct to Lopez-led First Gen Corp., as well as a notice to proceed to Texas-based Excelerate Energy L.P.

During the hearing, Mr. Pulido also gave an update on the planned $2-billion import terminal led by Tanglawan Philippine LNG, Inc.

“We were constrained to cancel their notice to proceed as, in fact, they essentially withdrew their plans as they were not able to reach financial close,” Mr. Pulido said. “They are no longer pursuing their project.”

He added that the withdrawal was caused by a “commercial issue.” Tanglawan is controlled by Phoenix Petroleum Philippines, Inc., the oil company owned by Davao City businessman Dennis A. Uy.

Tuesday’s hearing was the second day lawmakers heard energy stakeholders’ comments on SB 1819, which aims to regulate the midstream natural gas industry. The industry covers various operations such as aggregation, supply, importation, receipt, unloading, loading, processing, storage, regasification, transmission and transportation of natural gas in original or liquefied form.

The measure was introduced as the reserves in the offshore Malampaya gas-to-power project face imminent depletion in the coming years.

Last week, the DoE said that it expected the private sector to take the lead in building the country’s LNG infrastructure, which included constructing terminals to receive imported fuel.

The department said this in response to Senator Sherwin T. Gatchalian’s previous statement that the government must find ways to encourage private companies to build LNG hubs.

In 2019, the Malampaya project under Service Contract 38 supplied 3,200 megawatts of electricity, accounting for 21.1% of the country’s gross power generation. The DoE projects that its resources will be gone by 2027.

Cebu Landmasters reports 12.5% higher reservation sales

LISTED property developer Cebu Landmasters, Inc. (CLI) posted 12.5% increase in its reservation sales for 2020 to P14.25 billion despite the coronavirus disease 2019 (COVID-19) pandemic.

In a regulatory filing on Tuesday, CLI said the amount is equivalent to 5,300 sold units nationwide and is higher than the P12.67 billion in reservation sales recorded in 2019.

“Despite the many challenges posed by the pandemic in 2020, our sales figures indicate strong revenue streams ahead and an upward growth trajectory. We found many opportunities amidst the crisis that contributed to our performance,” Jose Franco B. Soberano, CLI executive vice-president and chief operating officer, said in the statement.

The company revealed that 69% of its sales for 2020 came from its economic brand, Casa Mira, followed by its mid-market Garden Series at 19%, and high-end Premier Masters at 10%.

For 2020, CLI said it had launched nine new projects worth P11.4 billion, equivalent to 4,300 units, and has already sold 70.6% of the new inventory by yearend.

Among provinces, Cebu accounted for 46% of the company’s sales, while the remaining 54% came from other areas in the Visayas and Mindanao such as Iloilo, Davao, Cagayan de Oro, Bacolod, Dumaguete, and Bohol.

Moving forward, the company has 8,000 units in 15 residential projects, worth P17 billion, which are scheduled in 2021. The projects will be located in Cebu, Ormoc, Bacolod, Iloilo, Cagayan de Oro, and Davao.

According to CLI, the 15 new projects scheduled for this year will use properties in its current land bank and plans have already been drawn up for their respective developments.

“We will launch the projects as soon as external factors allow and hope to further contribute to the shared goal of economic recovery,” Mr. Soberano said.

Further, he said the company sees more opportunities in 2021, helped by low-interest rates and as local and global economies continue their recovery from the pandemic.

“COVID-19 realigned spending priorities and stressed the importance of homeownership as a means of securing the future,” Mr. Soberano said.

On Tuesday, CLI shares at the stock exchange rose 2.19% or 11 centavos to close at P5.14 apiece. — Revin Mikhael D. Ochave

Auto parts workers call for manufacturing incentives

A CAR parts labor group is urging the government to introduce new incentives for automotive companies manufacturing locally to complement import safeguards designed to protect the local industry.

The Philippine Metalworkers Alliance (PMA), along with its associate Sentro ng mga Nagkakaisa at Progresibong Manggagawa, said that the import duties set this month “should only be the start.”

PMA had successfully petitioned the Trade department to slap duties on imported cars after it flagged a link between a recent surge in imports and a decline in local employment.

The labor group in a statement on Tuesday said that the government incentives program offering fiscal support to car companies that locally produce 200,000 units of high-volume car models for six years should be “earnestly implemented.”

Car firms Toyota Motor Philippines Corp. and Mitsubishi Motors Philippines Corp. are participating in the Comprehensive Automotive Resurgence Strategy (CARS), but Toyota has been asking for a compliance extension after it said the pandemic impeded its ability to meet the required production volume.

PMA added that there should be new incentives for car companies that have been manufacturing in the Philippines for a long period.

The labor groups have been pushing back against the car industry group’s criticism of the import duties. The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), after a pandemic-driven 41.6% sales drop as of November, said that duties would impede the sector’s recovery and risk employment downsizing.

But the workers groups said that the safeguard protects Philippine workers amid a drive to boost local manufacturing instead of import dependence.

The CARS program, they said, was designed to improve local industry performance.

“(The program is) along the lines of the extremely generous tax incentives being provided by many countries all over the world, including those that would supposedly be affected by the safeguard measures.” — Jenina P. Ibañez

NLEX Corp. reports ‘light traffic’ despite spike in figures

NLEX CORP. on Tuesday said the traffic flow at its toll plazas has improved after it carried out some measures to help control the congestion.

In an e-mailed statement, the tollway company reported that its average daily traffic had reached 323,000 from Dec. 18, 2020 to Jan. 4, 2021, or higher by 3,000 versus the traffic volume it saw in the first two weeks of December.

“We are delighted that even with the recent spike in traffic figures, we have not seen our toll plazas getting jampacked,” NLEX Corp. President and General Manager J. Luigi L. Bautista was quoted as saying.

Mr. Bautista attributed the improvement to the ongoing refinements the company is employing.

To recall, the Valenzuela City government suspended the business permit of the tollway company on Dec. 7 over the heavy traffic caused by the implementation of its cashless toll payment system.

Valenzuela City Mayor Rex T. Gatchalian lifted the suspension on Dec. 16 after both parties agreed to keep the toll barriers up on all lanes for vehicles with RFID stickers.

The tollway company said it is currently “working on some upgrades involving radio-frequency identification (RFID) antennas and account management systems.”

It added that it has already carried out some “enhancements in the RFID system for faster reading, repositioning of RFID installation sites, and relocation of cash and reloading lanes at the right side of the toll plazas for better traffic flow.”

Metro Pacific Tollways Corp.’s (MPTC) tollways, including NLEX, Subic-Clark-Tarlac Expressway, Cavite Expressway, and Cavite-Laguna Expressway, have so far installed a total of 2,076,252 RFID stickers as of Jan. 10, the tollway firm said.

MPTC is a unit of Metro Pacific Investments Corp., which is one of the three Philippine units of Hong Kong-based First Pacific Co. Ltd. The two others are PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains interest in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

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