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ERC asked to order refund of Meralco bills for May

A CONSUMER group on Wednesday asked the Energy Regulatory Commission (ERC) to ask Manila Electric Co. (Meralco) to return to customers their payments for May bills, as well as to halt its billings during the period of enhanced community quarantine (ECQ).

In a letter, the National Association of Electricity Consumers for Reforms, Inc. (Nasecore) said the listed distribution utility did not comply with the ERC advisory on postponing its electricity billings until after May 30, amortized in four installments in the next four billing months after the ECQ.

“Undoubtedly, Meralco customers who paid their May billings online and at payment centers while the ECQ is still in effect were deprived of the benefits they were entitled to under the ERC Advisories,” it said.

In a message to BusinessWorld on Tuesday, Meralco Vice President and Utility Economics Head Lawrence S. Fernandez said the company “strictly complied with ERC Advisories and relevant regulations.”

Last week, the Philippines’ largest distribution utility explained that the bill shock experienced by customers was due to the increase in electricity charges computed based on the actual electricity consumption in kilowatt-hours (kWh) from the current meter reading, plus the estimated consumption reflected in the deferred April and March bills.

The ERC on Monday ordered Meralco to explain the basis of its computation of the May billing.

Meanwhile, the group also accused Meralco of “abuse of market power” by supposedly imposing a P47-convenience fee for online bills payments.

The fee, it said, “should have been a subject of an application with the Commission and of a public hearing.”

Responding to this, Meralco Senior Vice President and Legal Head William S. Pamintuan said on Tuesday that the additional fees are not theirs but are “the fees charged by online payment services provider to those using their platform or system to transact online payments for their convenience.”

The Department of Energy in a letter dated May 14 asked the utility to submit its explanation on this matter. — Adam J. Ang

Best wine movies to watch

The last two months of our quarantine, I am sure most of us stuck at home have done our share of movie bingeing. For a change, why not watch movies with wine themes?

In the mid 1990s, at the beginning of my wine career, I started paying more attention to movies that had wine in their story line or backdrop. I remembered watching the 1995 romantic comedy French Kiss starring Meg Ryan and Kevin Kline, where Kline, who played a French guy, in one scene, is teaching Ryan how to associate wine aromas with herbs. I also recall a Bruce Willis action-crime movie in 1998 called Mercury Rising, where in one scene Willis breaks into the cellar of the villain played by Alec Baldwin and starts opening and drinking Alec’s luxury wine collection of Château Petrus and Château Cheval Blanc, even mentioning that one of the wines he tried is corky. Then, there was a Jacky Chan movie in 1999 with Taiwanese actress Shu Qi (of The Transporter) showing the action star rolling his hand-crafted giant Riedel crystal Bourgogne glass from side to side on a table to aerate a Bordeaux wine.

These are just some memorable wine scenes in regular movies, but there are a few good movies that really have wine as a theme or as a major part of its theme. Below are the three films I immensely enjoyed, and I highly recommend to wine lovers. Warning: I include spoilers.

Sideways (2004)

This critically acclaimed movie revolves around two old friends in their 40s portrayed by seasoned actors Paul Giamatti and Thomas Haden Church (Sandman in Spider Man 3 of the Toby Maguire era), who are on a week-long road trip to the Santa Ynez Valley wine country.

Giamatti plays Miles Raymond, a hardcore wine enthusiast and English teacher from San Diego. Miles is also a frustrated book writer and a bitter divorcee who still longs to reconcile with his ex-wife. Haden Church plays Jack Cole, a small-time TV actor who is getting married soon. The wine country road trip is Miles’ idea as a send-off bachelor gift to his long-time buddy Jack. But Jack has other things in mind. While Miles wants to enjoy the wines, the local cuisine, the picturesque scenery, and the brotherly bonding, Jack is more interested in having guiltless sexual flings before tying the knot.

As the week progresses, Miles has been constantly at the side of the testosterone-charged Jack, including being his sidekick as Jack conducts an open affair with Stephanie, a wine-knowledgeable staffer they met during a winery tasting visit. Stephanie’s friend Maya is a waitress at a restaurant Miles frequents when he visits the wine country. As Jack gets to spend more time with Stephanie, Miles and Maya also begin to develop feelings for each other. In an accidental slip up, Miles reveals to Maya that Jack is engaged to be married, and Maya quickly tells Stephanie. Stephanie physically attacks Jack in anger and ends their ill-advised affair.

Instead of learning his lesson, the incorrigible Jack quickly finds another willing victim in waitress Cammi, also a fan of his. But this time, he gets caught by Cammi’s husband, and once more Miles helps Jack out of a potentially messy situation to ensure that Jack’s looming marriage will push through.

While Jack is creating his own problems, Miles also receives bad news from his book agent. Jack’s draft novel has been rejected by another publisher, and his dream of becoming a writer seems doomed.

Everything hits rock bottom for Miles as he meets his ex-wife at Jack’s wedding, and she introduces him to her new husband. Knowing that he can no longer win his ex-wife back, Miles quickly leaves the wedding reception to pick-up his most cherished wine, a 1961 Château Cheval Blanc, that he has been saving to drink on a special occasion. He drinks this wine rather brusquely in a nearby fast food restaurant with only a styro-cup, whiffing and quaffing in total pleasure. I do see why such a majestic wine like a Cheval Blanc can make one’s crappy life more tolerable and can offer some joy in such dire situations.

There are quite a lot of memorable scenes in this movie. Most wine people I know remember the Merlot-bashing, and Pinot Noir-reverence dialogue, but for me, the most memorable scene also happens to be one of the most disgusting I have ever seen in any movie. This is when a very irate Miles (after learning his novel has been rejected by a publisher) returns to a wine tasting room, and wants to drink more out of frustration. But the winery personnel refuse to pour him a full glass even when he offers to pay for it, saying Miles should just buy a bottle and drink outside their premises. In a feat of anger, Miles takes the spit bucket and unmindfully gulps down the contents… OUCH! I still twitch every time I remember this particular visual.

Bottle Shock (2008)

Bottle Shock is based on a true story that occurred in 1976 — the historic year that literally and figuratively put Californian wines in the wine map. The movie stars the late Alan Rickman as Steven Spurrier, Bill Pullman as Jim Barrett, and Chris Pine as Bo Barrett. Bottle Shock tells of the exploits of Spurrier, a British owner of a “not-so-busy” Paris wine shop, who hatches an ambitious wine tasting plan to pit his favorite French wines against relatively unknown Californian wines.

The original idea was more to see if other country’s wines could be at par with the proud French wines in terms of taste and quality. Steven then travels to California in search of worthy wines to bring to the Paris wine tasting. In a twist of fate, Steven meets Jim Barrett, the hard nosed owner of struggling Château Montelena. And soon after, he visits the winery to taste some barrel samples of the Chardonnay. Convinced that the Château Montelena Chardonnay can compete with the best White Burgundy from France, Steven offers to buy two bottles to bring back to Paris. Jim does not believe in the tasting and feels that Steven is only taking Château Montelena to the Paris tasting to embarrass Napa wines. But son Bo thinks it is a fantastic idea and is very confident about their wine, so he sneaks out two bottles of their 1973 Château Montelena Chardonnay to give to Steven before he departs for Paris. And the rest, as they say, is history. Château Montelena emerges as the surprise winning white wine in this momentous tasting event known as Judgment of Paris by beating the more illustrious French burgundies and shocking not only the eight French wine expert judges, but also the rest of the world — a real underdog story that is actually stranger than fiction (especially during the 1970s).

The movie is just very entertaining. Alan Rickman is hilarious. But while the movie was well done and was well received by film critics, it has not escaped controversy from those in the wine trade. For one, Steven Spurrier, the main character in the supposedly true-to- life movie, questioned the accuracy of the story. Also, the real winemaker of the 1973 Château Montelena Chardonnay was Croatian immigrant Mike Grgich (now owner of Grgich Hills Cellar) who worked for Jim Barrett back then. Gustavo Brambila, who is depicted in the movie as the gifted winemaker, was more like an understudy of Mike Grgich during this period at Château Montelena.

Uncorked (2020)

Uncorked is a Netflix original movie, and one of those new releases I watched while under the pandemic quarantine. The movie has no big stars and is actually about an African-American family in Tennessee — unusual when one considers what is normally associated with wine culture. But despite the lead character, Elijah (played by Mamoudou Athie), being African-American, there are no racial undertones when it comes to Elijah’s wine endeavor, though the soundtrack is “black” hip-hop music.

Uncorked talks of the relationship between Elijah and his father, Louis (played by Courtney B. Vance). Elijah works at Joe’s, a local liquor shop where he develops fondness for wines. He is tutored by his boss Raylan, who also encourages Elijah to turn his interest in wine into a master sommelier title. To pursue a master sommelier title, Elijah needs to first pass a state exam for sommeliers, which he does. Elijah then enrolls in a sommelier/wine school to prepare himself for the very difficult master sommelier exam. As Elijah mentions to his girlfriend Tanya, “There are only 240 master sommeliers in the world.”

But when Elijah tells his father Louis that he passed the qualifying exam for master sommelier, Louis is not thrilled. The plan Louis has is for Elijah to take over their thriving barbeque restaurant started by his father, Elijah’s grandfather, in Memphis. Their barbeque restaurant is also opening its second branch. Elijah’s mother Sylvia (Niecy Nas) is, however, supportive of her son and convinces Louis to let Elijah do what he wants. While in school, Elijah is asked to join a study group which goes to Paris on an exchange program. While in Paris, Elijah finds out his mom has died from cancer.

He comes back home and is faced with a huge quandary: his desire to help his dad run their family barbeque business and his own ambition of becoming a sommelier. He chooses the former. Elijah drops out of wine school and works with his dad full time. But with prodding from Tanya and eventually, his dad, Elijah agrees to go for the master sommelier exam. Louis decides to help his son review. Elijah fails the exam but is not giving up on his dream. He re-enrolls in wine school, this time, more determined than ever to become a master sommelier.

Wine trade professionals will have real empathy with the character of Elijah. But this is still a fictional story as to achieve the actual master sommelier status — and, yes, there really are just 269 master sommeliers in the world — you need to pass four stages, not two as simplified in the movie (though the movie does a great job of showing the grind and hustle of being a sommelier).

The sommelier accreditation is administered by the Court of Master Sommeliers (CMS) through examinations that get much harder with each level. You start with the CMS first level, for the Introductory Sommelier title, and once you pass this, you go to the next level, for the Certified Sommelier title. You pass this, you go to the next level, for the Advanced Sommelier title. And finally, if you pass this, you hit the ultimate level, going for the Master Sommelier title. There is no bypassing of levels. The first three levels of exams are mostly in written form, while Master Sommelier level includes an oral exam on theories in front of a panel, aside from blind tasting of six wines (three red, three whites), and a service exam. Each part needs to be passed to become a Master Sommelier. Even after passing all three levels from introductory to advanced sommelier, the percentage of passing the final level is very low at around 4-5% only. With each level passed, you get a new lapel pin that comes with a certificate. While the Uncorked story line on father and son conflict is a bit old and tiring, the wine side of it makes this a real fun watch.

I intentionally did not include documentary movies like Netflix’s Sour Grapes (2016) about the life of wine con artist Rudy Kurniawan, or Mondovino (2004), a low-budget documentary, done entirely with a handheld digital camcorder, about commercialization and globalization of wine and its effect on the various wine regions.

For comments, inquiries, wine event coverage, wine consultancy and other wine related concerns, e-mail the author at protegeinc@yahoo.com. He is also on Twitter at

www.twitter.com/sherwinlao.

CPG backs gov’t in COVID-19 facility

CENTURY Properties Group, Inc. (CPG) is working with the government to operate a new coronavirus disease 2019 (COVID-19) testing facility in Bulacan.

The listed property firm told the stock exchange Wednesday it is “contributing significantly” in constructing and operating the mega testing facility at Philippine Arena.

The project is led by the Bases Conversion and Development Authority (BCDA) and the Department of Health.

“We recognize BCDA for its valuable efforts and quick action in rolling out these four mega testing facilities… It is in the same spirit of bayanihan that we commit our full support to this cause,”

CPG Executive Chairman Jose E.B. Antonio said in a statement.

The facility is the official swabbing center in the north for the government’s “Test, Trace, and Treat” project, which is led by BCDA President Vivencio B. Dizon.

The testing center has six healthcare station tents with 96 test booths, totaling a maximum capacity of 1,500 tests every day. The government is targeting to do 30,000 COVID-19 tests daily by the end of the month.

“We, in government, are grateful for the huge support and active participation of our private partners in responding to the COVID-19 crisis. (CPG) has largely contributed in building up the country’s testing capacity by providing healthcare stations and testing booths inside the Philippine Arena mega swabbing center,” Mr. Dizon said.

Aside from the Philippine Arena facility, other mega swabbing centers are located at the Palacio de Maynila, Enderun Tent and Mall of Asia Arena.

Shares in CPG at the stock exchange closed flat at 35 centavos each on Wednesday. — Denise A. Valdez

HSBC, Citi speed up digital push to ward off upstarts

BANKS IN Asia’s financial hubs such as HSBC Holdings Plc and Citigroup, Inc. are finding that the disruption from the coronavirus outbreak is helping them push back on a threat from a breed of virtual upstarts.

With branches shut, customers social distancing and fearful of tainted cash, the brick-and-mortar giants are seeing a surge in demand for digital services for everything from wealth management to insurance. Now they are rolling out new video services and fresh mobile features for retail and affluent clients, speeding up a transformation to cement customer loyalty and reduce costs, consultants and bankers say.

“Most banks are using this as an opportunity to sharpen their strategy,” said Fergus Gordon, growth markets banking industry lead at Accenture. “There will be a longer-term impact on their balance sheets.”

The heightened digital activity comes just as banks were contemplating how to fend off an onslaught of fresh competition from virtual banks that are being allowed into Hong Kong and Singapore.

For HSBC, which gets about a third of its revenue in Hong Kong, the stakes are high. The city is opening the door to eight new digital-only lenders with powerful backers such as Alibaba Group Holding Ltd. The startups could capture as much as $15 billion, or 30%, of the city’s banking revenue, Goldman Sachs Group, Inc. estimated in 2018.

At HSBC, the share of retail transactions in Hong Kong conducted digitally hit 94% in March. Active customers on its mobile app jumped almost 40% from a year earlier, to 1.12 million. Citigroup’s digital wealth management transactions, including stock and foreign exchange, rose 37% in the first two months of the year in Hong Kong. Overall in Asia, its digital brokerage and mutual fund transactions jumped more than 70% in March from January.

‘HELP’
“We do anticipate that COVID will lead to an acceleration in customer adoption of digital channels, which will continue,” said Greg Hingston, HSBC head of wealth and personal banking for Asia Pacific.

Citigroup has during the crisis added features to its mobile app such as a “Help” function and is working on enabling two-way messaging.

“Our view is customers will continue to embrace digital once the pandemic is behind us after having experienced first-hand the added convenience and possibilities it offers,” said Gonzalo Luchetti, head of Asia Pacific and EMEA Consumer Banking.

Bank of China (Hong Kong) Ltd., which has the biggest branch network in the city, has accelerated the roll-out of digital services, speeding up its plans by months, said Arnold Chow, an executive in charge of the personal digital banking products unit for investment and insurance.

Singapore’s three largest lenders, led by DBS Group Holdings Ltd., are reporting huge increases. More than 24,000 online equity-trading accounts were opened at DBS since Singapore tightened its lockdown on April 7. It saw more than 35,000 migrant workers, who are suffering the brunt of the city’s virus outbreak, opening bank accounts in less than two weeks. Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. are reporting similar digital trends.

Gains for the bottom-line could be significant, absorbing some of the shock from the billions in loan losses provisioned by banks. DBS’s digital customers made up 52% of its retail and small business base in Singapore and Hong Kong last year, up by almost a quarter since 2017. Such clients carry a cost-to-income ratio of 33%, compared with 53% for traditional customers, while delivering twice the income per head.

At the same time, its digital rivals are being stymied in Singapore, where authorities have pushed back plans to issue licenses to the second half of the year from June, citing virus restrictions.

Among the 21 applicant groups vying for as many as five digital banking licenses for nonbank firms in Singapore are a consortium of Grab Holdings, Inc. and Singapore Telecommunications Ltd., Tencent Holdings Ltd.-backed Sea Ltd., and billionaire Jack Ma’s Ant Financial Services Group.

Hong Kong’s challengers have been slow out of the gate, largely offering gimmicks to attract customers. The first mover of the new virtual banks, ZA Bank Ltd., attracted interest from about 24,000 people in a program started in January as it offered a 6.8% deposit rate to select clients. WeLab Ltd., backed by Alibaba, is seeking to lure customers before the launch of its bank by offering interest-free loans to pay in advance a HK$10,000 handout promised to each resident as part of the city’s virus relief measures.

Both banks declined to comment.

Like Singapore, Hong Kong has been playing catchup with other major markets in Asia in financial technology adoption. About 67% of digitally active people in both Asian hubs conducted financial services online last year, far below the reach of 87% seen in China and India, according to a report from EY.

But the biggest potential gains could be seen in other parts of the world, also under lockdown. In the US, digital banking usage is just 46%, while in Europe the rate varies from as high as 82% in Russia to as low as 35% in France.

Lenders are realizing that delivering more services digitally makes them more resilient to disruptions in their operations, said Andrew Gilder, Asia-Pacific banking and capital markets leader at EY.

“In the short term, they could defend some of the threat from the virtual banks,” he said. — Bloomberg

Quarantine Cocktails

WITH liquor bans being eased in some cities (Quezon City, Pasay, Makati, and Taguig at our last count), we think it’s okay now to have a drink, or two, or four — provided one follows social distancing measures, meaning one should drink these following drink recipes only at home. You don’t have to be lonely — some have gone on to the video-conferencing app Zoom for “e-numans” (remote drinking parties).

Desperados (kind of)

Oh, you might think the French are all about Bordeaux and champagne, but have you heard of Desperados? It’s a tequila-flavored pale lager sold in Francey. We don’t have that in these islands, so we’ve come up with our own alternative:

Ingredients:

1 shot of tequila

1 glass of beer

Basically, you can just shoot the tequila and gulp the beer as an apology. We understand the desperate situation in the outside world (you read the news, right?). Alternately, you can substitute any sort of spirit for the tequila, or drop the shot in the middle of the glass like the Bomb family of drinks. Either way, we won’t judge.

Soju Yakult

Yes, we’re about to ruin a favorite childhood treat — or else give it new life while you reminisce about better times without a pandemic. It sounds like something you make because there’s nothing else in the fridge, but apparently, they drink this in Korea. It got a moment when Yakult hit the mainstream thanks to Netflix rom-com To All The Boys I’ve Loved Before. We got this recipe from Drink Manila (drinkmanila.com).

Ingredients

120 ml Yakult

120 ml Soju

Directions:

Pour equal parts Soju and Yakult in a glass with ice.

Stir and serve with a straw.

BREAKER: DAY-DRINKING TREATS
Thanks to erratic work-from-home schedules, we have somehow been unbound by time, so we can’t blame you for taking a sip or two while the sun is still up, when you used to do that only at night.

Orange Blossom

It’s gin and juice — what can go wrong? This drink was apparently quite popular with the flappers during the Prohibition Era (and recently, sometimes it felt like we were still under Prohibition). We got this recipe from liquor.com.

Ingredients

1 oz gin

1 oz sweet vermouth

1 oz orange juice

Garnish: orange wedge

Directions

Add all the ingredients into a shaker with ice and shake.

Strain into a chilled cocktail glass.

Garnish with an orange wedge.

Kentucky Coffee

We first learned of this drink during a Christmas morning in Texas. It’s basically morning coffee with one heck of a kick. Don’t drink this before Zoom meetings. We got this recipe from the official website of Bulleit Frontier Whiskey, a brand of bourbon from beverage conglomerate Diageo. I’m pretty sure one can substitute any brand, what with the times and all.

Ingredients

2.5 oz. Coffee

1.25 oz Bulleit Bourbon

Brown Sugar (to taste)

Creamer (to taste)

Directions

Add coffee and Bulleit Bourbon to the mug.

Add brown sugar and creamer to taste.

Stir.

Finally, we’ve got the classic mind-screwer, The Long Island Iced Tea. Featuring several spirits in one glass, it’s guaranteed to put you to bed for a couple of hours, and then some. This recipe is from liquor.com.

Ingredients

3/4 oz Vodka

3/4 oz White rum

3/4 oz Silver tequila

3/4 oz Gin

3/4 oz Triple sec

3/4 oz Simple syrup

3/4 oz Fresh lemon juice

Cola, to top

Garnish: Lemon wedge

Directions

Add all ingredients except the cola into a Collins glass with ice.

Top with a splash of the cola and stir briefly.

Garnish with a lemon wedge.

Serve with a straw. — Joseph L. Garcia

No billing issues in homes using smart readers

A SOLAR company reported that no complaints on electricity billings were raised from some households under a micro-grid system in Bulacan during the lockdown period as many power consumers in Luzon were shocked with their increased electricity charges this month.

In a statement, OneSunAsia, Inc. said some power consumers in Muson village in San Jose Del Monte are “confident” of the power billings they receive as they can monitor their kilowatt-hour consumption in real-time via smart readers.

“The smart meters in the community removed any uncertainties in the electricity billing,” Andrea Capellan of OneSunAsia said.

Housing cooperative ALPAS has partnered with the renewables firm to put up an advanced metering system in their housing projects.

Under a pre-paid system, residents were encouraged to conserve electricity, buying packets of electricity on demand based on their budgets.

“Consumers with limited income scheduled their laundry and general cleaning to match their utility budget. Especially among low-income communities, a pre-paid system heavily influenced their buying behavior, procuring only small packets of electricity when needed because of their limited budget,” Ms. Capellan said.

The company even noted that a majority of its customers did not avail of its electricity loan program in aid of those whose livelihoods are affected by the enhanced community quarantine.

“Majority of the customers refused to borrow and would rather buy what they can afford. The digital technology at hand saved them from a possible debt trap,” OneSunAsia said.

“It also reduced electricity usage because they were aware of the load balance real-time,” it added.

Many consumers have complained about the spike in their electricity bills this month as Manila Electric Co. started billing its customers this May based on current reading plus the average of their kilowatt-hour consumption in the past three months in lieu of the March and April billings.

The Energy Regulatory Commission and Department of Energy have since called on the attention of the country’s biggest distribution utility to explain its present charges to customers. — Adam J. Ang

TDF rates drop further

BoT treasury
YIELDS ON the seven-day deposits inched down. — BW FILE PHOTO

YIELDS ON the central bank’s term deposit facility (TDF) inched down after a slight uptick in the prices of commodities like oil and rice.

Total bids from banks for the seven-day papers offered by the Bangko Sentral ng Pilipinas (BSP) on Wednesday reached P242.052 billion, going beyond the P120 billion on the auction block and also higher than the P231.351 billion in tenders logged on May 13 for a P100-billion offering.

Banks asked for returns ranging from 2.25% to 2.2580%, a slimmer margin compared to the 2.25% to 2.2625% seen last week. This caused the average rate of the one-week deposits to settle at 2.2543%, inching down by 0.35 basis point from the 2.2578% logged a week ago.

The TDF is the BSP’s primary tool to shore up excess liquidity in the financial system and to better guide market interest rates.

The offering of the longer 14- and 28-day tenors continues to be suspended. The BSP halted offering term deposits at the onset of the enhanced community quarantine in Luzon in March to support the banking system.

“Today’s auction results show that the domestic financial market remains calm amid ample liquidity even as the enhanced community quarantine measures in NCR was eased slightly on May 16,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

For his part, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the marginally lower average yield came after the upward correction in some commodities, including oil and rice.

“Higher rice prices recently, together with higher global oil prices could fundamentally limit the easing trend in inflation and interest rate benchmarks,” Mr. Ricafort said in a text message.

Oil prices have seen some upward correction since May, although prices are still within levels lower than what was observed before the pandemic. The slight price uptick was on the back of recovering demand, especially from major markets such as China as well as the massive production cut from oil-producing big player countries.

Meanwhile, data from the Philippine Statistics Authority showed the average farmgate price of palay or unmilled rice inched up by 0.75% to P18.81 per kilogram in the first week of May. Average wholesale price of regular-milled rice also picked up by 0.88% to P35.40 while the retail price rose by 0.11% to P37.90. — Luz Wendy T. Noble

Microsoft, innovators collaborate to fight COVID-19

MICROSOFT Philippines, technology developers and the Department of Science and Technology (DoST) have worked together to develop tools and applications to help the government combat the coronavirus disease 2019 (COVID-19).

In a statement, technology company Microsoft Philippines said it collaborated with DoST and information technology (IT) developers, entrepreneurs, students, and enthusiasts from Developers Connect Philippines (DEVCON) to “develop digital solutions to address the COVID-19 situation in the country.”

“Among the platforms developed were RapidPassPH and TraceCovid.ph, applications that help the government identify authorized vehicles and personnel and give access to map-verified COVID-19 cases, respectively,” it added.

The Department of Information and Communications Technology (DICT) has been tasked to oversee the implementation of the RapidPass System, which allows for “faster” identification throughout the various checkpoints in the National Capital Region.

The TraceCovid.ph platform, which is equipped with an up-to-date list of hospitals with confirmed COVID-19 cases, allows users to anonymously share location data to facilitate close contact detection in the event that a user tests positive for COVID-19.

“The applications are powered by Azure, Microsoft’s cloud computing platform, which enables developers to expand their projects and allow their apps to run on a high-volume file storage database. Under Azure, DCTx developers also ensure that all data gathered from the applications are secured and protected in compliance with the law,” Microsoft Philippines said.

Microsoft Philippines Country General Manager Andres Ortola was quoted as saying: “Our mission as an organization remains the same, more so now in the face of this global pandemic. Finding a solution will require massive amounts of synergy and we’re committed to providing people and organizations with the support they need to turn the tide against COVID-19 — both here in the Philippines and across the globe.”

For his part, DevCon Philippines President Winston Damarillo said: “It is during these times that we are called upon as a community to address problems strategically, and build sustainable, innovative solutions to fight this pandemic. Through this collaboration, we aim to bring the brilliant ideas of Filipino innovators into real-life impact to help the country in its time of need.”

“We are grateful to our partners and sponsors from the government and the private sector, who generously supported this initiative and invested in the rich local tech community in the Philippines,” he added. — Arjay L. Balinbin

WFH during the ECQ: Chocolatier Christian Valdes

WE as a species can live without chocolate — we simply refuse to live a life without it. Even at the height of wartime privation in the 1940s, governments somehow still deemed chocolate a necessity, and it was allowed in stores, even if the wartime bars were of lower quality. Chocolate found itself in soldier’s kits, to boost morale and to serve as emergency rations (those bars weren’t very good either, according to reports).

The chocolates of Christian Valdes aren’t of dubious crisis quality. Mr. Valdes is behind CMV Txokolat, a brand dedicated to creating luxury chocolate pralines with a mix of the cosmopolitan and the local. The pralines can be filled with salt and pepper caramel, kaffir lime and coconut, minted calamansi, or even gumamela (hibiscus).

With a commissary located at his home, we talked to Mr. Valdes about continuing to create a sweet life under lockdown, despite the hardships of a pandemic. Perhaps it’s hard to imagine why little luxuries like chocolate are still present during a crisis. We like to think of them as small mercies.

OF ALL THE THINGS TO BE AN EXPERT IN, WHY CHOCOLATE?
To be completely honest, I wasn’t expecting to take up chocolate as a hobby; let alone as a profession. I’ve always had an interest in chocolates. I’d say that interest was inspired by my grandmother, who when it came to food, could do it all and do it exceptionally well! It wasn’t until one of my friends who was interning at the Mandarin Oriental showed me how to make chocolates. That’s when my interest really took off, and fast became a hobby gone passion and profession. I mean, the things you can do to chocolate go beyond just things you can eat. It’s something you can sculpt and design. Chocolate is extremely versatile and the uses are infinite.

CAN YOU TELL US ABOUT YOUR WORKSPACE AT HOME? HOW DOES IT COMPARE TO THE ONE YOU LEFT BEHIND BEFORE QUARANTINE?
My workspace is at home and not much has changed.

HOW HAS THE QUARANTINE CHANGED YOUR WORK ROUTINE?
Quarantine hasn’t changed our work routine too much. In terms of staffing, we’re working with a skeleton crew. We want to ensure the safety of our employees and also ensure that there is no cross-contamination. As for production, we have created stocks in order to cope with demand based on our historical data, so that we can also alleviate the added pressure on less staff.

My team consists of five marketing staff, one CPA, one person in business development. Our production team consists of three chocolatiers, but to ensure the safety of our employees and to prevent cross-contamination we have one chocolatier working on production. Our marketing, CPA and business development people do not need to visit the office; we have them all working from home.

DESPITE THE QUARANTINE FEELING LIKE A VERY LONG BREAK — DO YOU STILL TAKE BREAKS FROM WORK?
This quarantine definitely feels like a large break melded together, or like grade school during the summer! Yes, I do take breaks on the weekend, we all need time to rest up and recharge our batteries, but it’s easy to lose track of time at my job because it’s something that I love to do. I mean I get out of bed excited to start working!

DO YOU STILL DRESS UP FOR WORK?
Yes, I still dress up for work. It’s integral to be in uniform as it helps maintain our safety standards and helps us maintain that normalcy.

HOW DO YOU STILL MAINTAIN A WORK-LIFE BALANCE, WHEN WE DO EVERYTHING AT HOME NOW?
I would have to say it’s quite easy to maintain a work-life balance. I have my schedule of things I need to accomplish, or production that needs to be completed, along with various other things that need to be done on any given day. Knowing this, I know how much time I need to get these things done before I can relax and let home life kick in.

HOW HAS THE QUARANTINE AFFECTED YOUR SOURCING FOR INGREDIENTS, AS WELL AS SENDING ORDERS OUT?
Yes, we’re continuing to take orders, and of course, it’s made sourcing a bit difficult during these times. It’s not so much getting the supplies necessary to fulfill orders but the logistics involved. I have my suppliers that I’ve worked with for a long time. Because we are in the food industry, we’re considered “essentials,” so despite the ECQ, we are business as usual.

CHOCOLATE ISN’T ALWAYS REGARDED AS AN ESSENTIAL, AND IT’S STILL CONSIDERED A LUXURY, ALBEIT A SMALL ONE. JUDGING FROM YOUR CONTINUED WORK, WHAT’S THE IMPORTANCE OF SMALL LUXURIES (LIKE CHOCOLATE) DURING TRYING TIMES LIKE THESE?
I think chocolate is really essential during these times. Chocolate in general contains tryptophan which is linked to the production of serotonin. These chemicals make us feel happy, loved, and just good, all in all. Each bite of chocolate despite our confinement is like a reward. These simple joys are necessary to keep us happy during these times of confinement.

Central Azucarera de Tarlac net income up 123%

LISTED sugar miller Central Azucarera de Tarlac reported a higher net income in the third quarter of its fiscal year ending March.

In a disclosure to the stock exchange on Wednesday, the company said its net income for the third quarter rose 123% to P162.14 million, from P72.69 million the company had in the same period in 2019.

However, during a nine-month period, the company’s net income fell 25% to P47.69 million, from P63.31 million during the same period the previous year.

Central Azucarera de Tarlac’s revenue for the third quarter rose 49.59% to P655.62 million, from P438.29 million.

During the nine-month period ending March, the company’s revenue went up 11.4% to P907.71 million, compared to P814.87 million it earned in the similar period last year.

“This was primarily driven by the combination of the increase in sugar sales volume by 70%, increase by sugar price by 5%, and increase in alcohol price by 18%,” the disclosure said.

The company’s operating expenses for the third quarter went down 14.1% to P28.73 million.

Meanwhile, during the nine-month period, Central Azucarera de Tarlac’s operating expenses climbed 3% to P100.79 million, with reported increases in the company’s spending on taxes, licenses, and professional fees.

“Taxes and licenses increased by P2.9M or 19% as a result of higher local government taxes remitted, while professional fees grew by P1.6M or 9% due to one-time engagements of various professionals,” the disclosure said.

The sugar company said that it has yet to assess the depth and the effects of the economic crisis from the coronavirus disease 2019 (COVID-19) pandemic on the entirety of its business.

“CAT envisions more challenging times ahead and is using this opportunistic period to strategically manage inventory, minimize operating costs and re-evaluate capital expenditure,” the disclosure said. — Revin Mikhael D. Ochave

Fintechs seen helping economy weather coronavirus pandemic

FINANCIAL TECHNOLOGY players (fintechs) need to step up amid the shift to a digital economy due to the coronavirus pandemic to boost services for small businesses which are among the most vulnerable to the crisis, said Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno.

In a webinar organized by industry group FintechAlliance.ph, Mr. Diokno said fintechs have a much larger role to play to ensure a more “inclusive and prosperous” economy after the pandemic.

“Fintechs can offer turnkey loan origination and underwriting platform for the government’s direct lending programs. Another could be digital solutions for MSMEs (micro-, small- and medium-sized enterprises) pivoting to e-commerce,” he said in his keynote speech during the webinar on Wednesday.

Mr. Diokno pointed to the role of MSMEs in the economy, noting that they represent 99% of total businesses and generate about two-thirds of the country’s employment.

“When the SMEs are having a hard time, the multiplier of that for the employees will be harder..,” BSP Managing Director of the BSP’s Center for Learning and Inclusion Advocacy Pia Bernadette Roman-Tayag said in a forum that followed Mr. Diokno’s speech.

The BSP has rolled out regulatory relief measures meant to boost credit to smaller businesses, including the temporary reduction in the risk weight of loans secured by MSMEs and the zero risk weight given for MSME exposures of banks for those covered by guarantees of the Philippine Guarantee Corp., the Agricultural Guarantee Fund Pool and the Agricultural Credit Policy Council.

Moreover, the BSP has also encouraged lending to the sector by counting new MSME loans as part of banks’ reserve requirement compliance.

With more businesses feeling the effect of the virus and the need for fresh funds to continue operations, fintechs could help provide a lifeline to these small businesses and private consumers as well, according to Mr. Diokno.

“Some fintechs can serve as digital payment channels while others can offer last-mile lending conduits like cooperatives and microfinance institutions a shared digital platform to better serve and reach more clients,” he said.

“We’ve seen the digital adoption of consumers…The fintech players can now serve as conduits for MSMEs,” said Angelito “Lito” M. Villanueva, chairperson of FintechAlliance.ph and Rizal Commercial Banking Corp. executive vice-president and chief innovation and inclusion officer.

Data from the Department of Trade and Industry showed transaction values of fintechs have hit roughly $5.8 billion in 2018, which is expected to climb to $10.5 billion by 2022. Fintech players account for more than 130 of the over 500 start-ups in the country.

Mr. Diokno also acknowledged the role of fintech players in achieving the BSP’s target to have 50% of transactions done digitally and to have 70% of Filipinos included in the formal financial system. — Luz Wendy T. Noble

Financial gain trumps espionage as reason for cyber attacks

NEW YORK — Money trumped spying as the top motivator for data breaches last year, according to Verizon’s annual report on cyber crimes published on Tuesday.

About nine out of 10 breaches were financially motivated, based on an examination of more than 32,000 incidents and nearly 4,000 confirmed break-ins in 81 countries, the report said.

Verizon Business 2020 Data Breach Investigations Report found that confirmed data breaches doubled from the prior year. As the coronavirus pandemic has forced people indoors, cyber attacks on businesses are expected to climb.

The report found that 86% of breaches were for money, not for purposes of spying. Credential theft, phishing and compromising business emails caused 67% of the cyber attacks.

As more businesses moved to web-based solutions, so did hackers. According to the report, breaches on web and cloud applications rose to 43%, double the previous year.

Companies like Facebook Inc. and Salesforce have extended working remotely to at least the rest of the year, with more businesses expected to follow suit. Verizon Business Group CEO Tami Erwin said the “digital transformation” to the work from home model during the coronavirus pandemic has presented a number of security red flags.

“A lot of people ended up sending workers to work from home without really thinking through what were some of the security elements in the future,” Erwin told Reuters. “I think employees working from home are probably more vulnerable to attacks.” — Reuters