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Trolls attack ABS-CBN online signature drive

WORKERS’ groups at ABS-CBN Corp. on Monday said their online signature campaign for the renewal of the legislative franchise of the media giant had been “sabotaged” by trolls.

In a statement, the ABS-CBN Rank and File Employees’ Union and the ABS-CBN Supervisory Employees’ Union described the online attack as an “organized effort” by those seeking to permanently close the media company.

They said the attacks were carried out by bots and fake accounts.

“We are cleaning up our database right now and will relaunch with proper security to prevent another attack. We will not give up because we are fighting for our family, for our children and their future,” ABS-CBN Rank and File Employees Union President Jon Villanueva said.

ABS-CBN Supervisory Employees’ Union President Raul de Asis said: “Our intentions are clean in conducting this online petition. To those who are discrediting us, please do not sabotage the efforts of the people working in ABS-CBN.”

ABS-CBN, whose franchise expired on May 4, halted its broadcasting operations after the National Telecommunications Commission (NTC) issued a cease-and-desist order on May 5.

Ordered closed are five AM radio stations, which include DZMM-AM in Obando, Bulacan; 18 FM radio stations; 42 TV stations; and 10 DTTB stations for implementation. — Arjay L. Balinbin

GCash registrations up 250% in first month of ECQ

GLOBE TELECOM, Inc. on Monday said its mobile wallet arm GCash saw its registration volume more than triple during the first month of the enhanced community quarantine.

In a statement, Globe said its GCash app “saw a 200% increase in the number of installations from March 15 to April 15 and a 250% growth in the number of app registrations for the same period, making it one of the top five most downloaded apps in android.”

Globe said the surge in user registrations was driven by the consumers’ need for contactless alternatives to sending money and paying bills.

GCash is also working with the government in the distribution of its financial assistance for motorcycle taxi bikers whose operations have been halted because of the coronavirus lockdown.

GCash also serves as a donation platform for some private and non-government organizations.

Last Friday, the Transportation department announced that it has partnered with GCash to carry out cashless transactions in taxis and transportation network vehicle services.

Taxi operators and transport network companies are now allowed to resume operations in areas placed under the more relaxed general community quarantine.

The Land Transportation Franchising and Regulatory Board has been pushing for the use of digital payments to limit or prevent the spread of the coronavirus disease 2019.

The Transportation department is also in talks with other electronic payment providers such as Squidpay, Paymaya, and Beep, among others. — Arjay L. Balinbin

Premium Leisure Corp. sets online stockholders’ meeting on June 22

Gaming investments company Premium Leisure Corp. will hold its annual stockholders’ meeting virtually on June 22.

Please see revised notice of annual stockholders’ meeting below:

 

TO ALL STOCKHOLDERS:

The annual meeting of the stockholders of Premium Leisure Corp. (the “Corporation”) will be held on June 22, 2020, Monday, at 11:00 a.m. Given the current circumstances, the meeting will be conducted virtually and voting conducted in absentia through the Corporation’s secure online voting facility.

AGENDA

  1. Call to Order
  2. Proof of Notice of Meeting and Quorum
  3. Approval of the Minutes of the Annual Meeting of Stockholders held on April 22, 2019
  4. Approval of 2019 Operations and Results
  5. Ratification of all Acts of the Board of Directors and Management during their term of office
  6. Election of Directors for 2020-2021
  7. Appointment of External Auditors
  8. Other Matters
  9. Adjournment

The Board of Directors has fixed the end of trading hours of the Philippine Stock Exchange on May 21, 2020 as the record date for the determination of stockholders entitled to the notice of, participation via remote communication, and voting in absentia at such meeting and any adjournment thereof.

The conduct of the meeting will be streamed live, and stockholders may attend the meeting by registering via asmregister.premiumleisurecorp.com and submitting the supporting documents listed there until June 19, 2020. All information submitted shall be verified and validated by the Corporate Secretary.

Stockholders who wish to cast votes through a proxy may accomplish the proxy form (which need not be notarized) and submit the same on or before June 19, 2020. In view of the community quarantine, scanned forms will be accepted. Paper copies shall be sent to the office of the Corporate Secretary at the 33rd Floor, The Orient Square, F. Ortigas Jr. Road, Ortigas Center, Pasig City once the community quarantine is lifted.

 

Stockholders who successfully registered can cast their votes in absentia through the Corporation’s secure online voting facility for this meeting. In order to participate remotely, they will also be provided with access to the meeting that will be held virtually. The “Guidelines for Participation via Remote Communication and Voting in Absentia” as appended to the Definitive Information Statement labeled as Schedule A will be posted in the Corporation’s website: www.premiumleisurecorp.com/ASM2020 and PSE Edge.

For complete information on the annual meeting, please visit www.premiumleisurecorp.com/ASM2020.

Thank you.

Pasig City, May 18, 2020.

 

(Sgd.)
ELMER B. SERRANO
Corporate Secretary

Belle Corp. announces virtual stockholders’ meeting on June 22

Premium tourism and leisure property and destination developer Belle Corporation will hold its annual stockholders’ meeting virtually on June 22.

Please see revised notice of annual stockholders’ meeting below:

 

TO ALL STOCKHOLDERS:

The annual meeting of the stockholders of Belle Corporation (the “Company”) will be held on June 22, 2020, Monday, at 2 p.m. Given the current circumstances, the meeting will be conducted virtually and voting conducted in absentia through the Company’s secure online voting facility.

AGENDA

  1. Call to Order
  2. Proof of Notice of Meeting
  3. Certification of Quorum
  4. Approval of the Minutes of the Annual Meeting of Stockholders held on April 22, 2019
  5. Approval of 2019 Operations and Results
  6. Ratification of all Acts of the Board of Directors and Management during their term of office
  7. Election of Directors for 2020-2021
  8. Appointment of External Auditors
  9. Other Matters
  10. Adjournment

The Board of Directors has fixed the end of trading hours of the Philippine Stock Exchange on May 21, 2020 as the record date for the determination of stockholders entitled to the notice of, participation via remote communication, and voting in absentia at such meeting, and any adjournment thereof.

The conduct of the meeting will be streamed live, and stockholders may attend the meeting by registering via asmregister.bellecorp.com and submitting the supporting documents listed there until June 18, 2020. All information submitted shall be verified and validated by the Corporate Secretary.

Stockholders who wish to cast votes through a proxy may accomplish the corresponding proxy form (which need not be notarized) and submit the same on or before June 10, 2020. In view of the community quarantine, scanned forms will be accepted. Paper copies shall be sent to the office of the Corporate Secretary at 2704 East Tower, Philippine Stock Exchange Centre, Exchange Road, Ortigas Center, Pasig City once the community quarantine is lifted.

 

Stockholders who successfully registered can cast their votes in absentia through the Company’s secure online voting facility for this meeting. In order to participate remotely, they will also be provided with access to the meeting that will be held virtually. The “Guidelines for Participation via Remote Communication and Voting in Absentia” as appended to the Definitive Information Statement labeled as Schedule A will be posted in the Company’s website: www.bellecorp.com/asm2020 and PSE Edge.

For complete information on the annual meeting, please visit www.bellecorp.com/asm2020.

Thank you.

Pasig City, May 19, 2020.

 

(Sgd.)
A. Bayani K. Tan
Corporate Secretary

Asian artists gather for livestream concert benefiting UNICEF

Kuala Lumpur-based digital entertainment company WebTVAsia and YouTube will be holding a four-hour livestream concert on May 27 titled ONE LOVE ASIA featuring top artists from the region for the benefit of the United Nations Children’s Fund (UNICEF) Asia to help its “efforts in preventing the pandemic from becoming a lasting crisis for vulnerable children,” a statement read.

“This is one of the biggest initiatives from the Asian entertainment community to show our support for UNICEF through one cohesive message of love and unity,” Fred Chong, CEO of WebTVAsia, said in a statement.

Joining the concert are UNICEF regional ambassador for East Asia and Pacific and K-Pop star Choi Siwon, and several Asian acts including the Philippines’ dance duo Ranz Kyle and Nina Guerrero, and singers Christian Bautista, Morrisette Amon, and Rico Blanco.

Other artists who will be performing are Exile Akira, Karen Mok, Apink’s Jung Eun-Ji, Namewee, G.E.M., Chi Pu, Sam Tsui, Davika Hoorne, Jack Neo, Boy William, Ice Paris, Pearwah, Baim Wong, Raditya Dika, Ismail Izzani, Quang Dang, DatG & DuUyen, Erik, Inul Daratista, Celine Tam, Priscilla Abby, and HaoRen.

“We’re excited to be supporting WebTVAsia and UNICEF to bring this very special concert to YouTube audiences across APAC and globally. ONE LOVE ASIA encapsulates our commitment to championing talent and giving them a platform to share their creativity and make a positive impact in the world,” Gautam Anand, managing director of YouTube Asia-Pacific, said in the statement.

The concert will be streamed on the ONE LOVE ASIA YouTube channel on May 27, 8 p.m. Donations can be made through the YouTube “donate now” button that directly pays to UNICEF’s account during the live stream and will continue to be available for 30 days after the concert.

“UNICEF is thrilled to be part of the ONE LOVE ASIA concert! Together we will create greater awareness of UNICEF’s work for children and families so they will be able to recover, rebound, and reimagine a stronger future,” Karin Hulshof, UNICEF’s regional director for East Asia and Pacific, said in the statement.

For more information about the concert and the cause, visit www.onelove.asia. — ZBC

Worries of surge in infections to pull shares down

LOCAL SHARES are seen to decline this week on lasting worries about second waves of the coronavirus disease 2019 (COVID-19) pandemic.

The local bourse kicks off a four-day trading week today as it was closed for trading on Monday in observance of Eid al-Fitr. The benchmark Philippine Stock Exchange index (PSEi) closed at 5,539.19 on Friday, down 0.05% on a weekly basis.

Online brokerage 2TradeAsia.com said the market might be more volatile this week as investors balance the news of increasing global COVID-19 cases and rising hopes of the development of a vaccine.

“The fact that the coronavirus is ‘novel’ spells unpredictability, as there are no comparative cases in history to match its clout. At this stage, science is on ‘trial-and-error’ mode, especially for advanced diagnosis for asymptomatic-positive cases…,” it said in a market note.

“For now, a delicate balance must be made relative to getting economies restarted and inhibiting progression of new virus strains. Anything that could alter or jolt either of these lead variables would further extend the recovery process and present new challenges for global equities markets,” it added.

For AAA Southeast Equities, Inc. Research Head Christopher John Mangun, what might push the market lower is expectations of a greater economic toll of the quarantine in April and May, which will be reported in the coming weeks.

“Our market will continue moving sideways and perhaps even test support at 5,000 towards the end of the second quarter as economic data will be worse than the previous quarter,” he said in a market note.

Still, he said he is optimistic that the third and fourth quarter would show some improvement, especially as quarantine measures are starting to ease, allowing the economy to recover.

“[W]e also believe that this market will move higher toward the end of the year as the economy will come back stronger in the third and fourth quarter if everything goes well with the containment of the pandemic and the restarting of the broader economy,” he said.

In the Philippines, there are lingering hopes that this is Metro Manila’s last week under modified enhanced community quarantine and that it will transition to a general community quarantine (GCQ) by June 1.

Majority of the Metro Manila Council, the group of mayors of Metro Manila cities, have favored transitioning the capital to a GCQ starting next week.

2TradeAsia.com said support for the market will come mostly from local investors so any development in the Philippines’ handling of the pandemic may trigger the movement of the market.

“While caution is to be expected (as can be gleaned from frail momentum improvement), investors positioning at the market’s present state must be prepared to take on a pro-active view on global economies’ healing and recovery,” it said. — Denise A. Valdez

Contactless payments encouraged at Araneta City

ARANETA City is encouraging customers to use digital payment channels amid the lockdown.

“The COVID-19 pandemic has emphasized the need for businesses to adapt safe and convenient contactless payment options without need to handle physical cash. This allows us to better reach and serve our customers in this time of unprecedented crisis. It’s good that Araneta City is prepared for this situation,” John Castelo, senior vice-president of the Araneta Group, said in a statement.

Hundreds of retail outlets within Araneta City already have contactless payment systems in place. Customers buying food at Pizza Hut, Dairy Queen, and Taco Bell can also use QR mobile payment apps PayMaya and GCash.

How PSEi member stocks performed — May 22, 2020

Here’s a quick glance at how PSEi stocks fared on Friday, May 22, 2020.


PSE among the worst-performing stock markets so far this year

PSE among the worst-performing stock markets so far this year

Second round of SAP to make use of electronic payments

THE government said second-tranche aid distribution under the social amelioration program (SAP) is expected to be more efficient due to the use of electronic payments.

The President’s Spokesman Herminio “Harry” L. Roque said in a briefing Monday that some inefficiencies have been worked out for the second tranche of aid, targeted at families affected by the coronavirus disease 2019 (COVID-19) crisis living in quarantine zones.

Gagamitin natin ang electronic ways para magbayad du’n sa ating mga kababayan… Naniniwala kami na mas mabilis na ang proseso kasi ang 12 million ay pareho lang na pangalan (We will use electronic payments… We believe that the process will be faster because we are dealing with the same 12 million names [from the first tranche]),” he said.

In addition to the 12 million still living under quarantine, which has prevented them from earning a livelihood, the list will be expanded by 5 million more beneficiaries who did not receive first-round payments.

The first round of the two-month aid scheme was marred by inefficient cash distribution featuring long lines at local government offices and disputes over people not appearing on their local beneficiary lists.

The memorandum authorizing the second SAP distribution was released Friday by Executive Secretary Salvador C. Medialdea.

May is the second month of the SAP.

The Palace memorandum directed the Department of Social Welfare and Development (DSWD) to create an online portal where the list of beneficiaries will be posted. — Gillian M. Cortez

Garin backs more testing for returning workforce

EMPLOYEES returning to work should be tested for coronavirus disease 2019 (COVID-19) to minimize possible transmission by asymptomatic persons, a former Health Secretary said.

Iloilo Representative Janette L. Garin said a worker discovered to be infected has the potential to shut down an entire workplace, resulting in lost productivity and livelihoods.

“The question on whether we need to test people going back to work, not all of them but yes we need to have a baseline of a specific (segment of the) population that can give us a better picture,” Ms. Garin said in a virtual briefing organized by the Foreign Correspondents Association of the Philippines.

She also said that companies should be allowed to perform rapid tests because they will be shouldering the cost and it would be easier to conduct contact tracing.

“If you have an employee who tests positive (in a) rapid antibody test, then you know where they go home, you know what specific barangays have many patients,” she said.

Ms. Garin added that rapid antibody test and Reverse Transcription Polymerase Chain Reaction (RT-PCR) test is necessary.

Ms. Garin, a former health secretary, said 40 to 50% of COVID-19 patients are asymptomatic and 80% of the 50 to 60% symptomatic only have mild symptoms.

Dr. Minguita Padilla, head of Project ARK (Antibody Rapid Test Kits), also said that it would be better if workers are tested, citing the risks from asymptomatic carriers.

“It’s better if we could test, that’s my opinion. It’s the opinion of a lot of business people and you cannot blame them,” she said in the forum. “If we could test, it could really, really be much better because there are many things that we can pick up and identify. but we cannot identify just by presuming that just because you are asymptomatic, you don’t have it.”

The Department of Health issued return-to-work guidelines which include the reduction of people in the workplace.

Testing for workers is not required. Health Undersecretary Maria Rosario S. Vergeire has said that the protocols are a guide to employers, emphasizing that symptomatic screening is ideal.

The department’s testing policy prioritizes patients and health care workers with severe and mild symptoms, those with a history of travel to infected areas, and those with pre-existing conditions rendering them vulnerable to contracting the disease.

Ms. Garin said the current level of testing is “too small.” She said that automation would make tests affordable and increase daily test productivity.

“We need the private sector and the government to work together, because when we do more tests, we will be able to identify the specific cities, the specific barangays, the specific provinces where there are a lot of COVID cases,” she said.

Ms. Padilla also said the problem lies with procurement and inventory of the DoH.

According to DoH data as of May 23, 272,355 individuals were tested. On May 24, a total of 8,283 were tested. The DoH hopes to conduct 30,000 tests daily by the end of May.

Major companies have declared their intention to test workers, including after concessionaire Maynilad Water Services, Inc., which has started conducting antibody screening tests.

In a statement, Maynilad said before redeployment for field assignments, workers underwent Screening Serologic Antibody Tests, including third-party service providers such as meter readers, desludging personnel, and other contractors.

“Those with positive results in this screening will undergo further coronavirus disease 2019 (COVID-19) tests,” Maynilad said.

The tests are being implemented in partnership with the Delos Santos Medical Center.

The company has also ordered safety measures for re-entry into offices.

Only one third of its employees are returning to their respective workplaces, such as those assigned to water and wastewater operations.

The remainder of Maynilad’s employees will continue to work from home.

Maynilad will also require all of its employees and service providers to practice workplace safety measures such as social distancing, temperature checks, and wearing of personal protective equipment. Facilities will also be disinfected regularly.

Meanwhile, Maynilad said that starting June, it will resume major construction projects, as well as meter reading and onsite billing activities.

“Since the start of the enhanced community quarantine, we have been putting in place new safety policies and procedures to adapt to the so-called ‘new normal’ workplace scenario. This is necessary so we can ensure the continued health and safety of our workers and customers,” Maynilad said.

Metro Pacific Investments Corp., which has majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Vann Marlo M. Villegas and Revin Mikhael D. Ochave

PCCI seeks 5-year NOLCO also for large corporations

BUSINESS GROUPS are seeking more stimulus programs directed at large companies, including expanded eligibility for the Net Operating Loss Carry Over (NOLCO), and backed immediate passage of legislation reducing the corporate income tax.

They expressed support in statements Monday for the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), the current form of the CITIRA bill, which cuts the corporate income tax (CIT) to 25% from 30% by July. The earlier proposal, CITIRA, would cut CIT to 20% gradually over a decade.

The Philippine Chamber of Commerce and Industry (PCCI) said that the extension of NOLCO to five years from three will help companies reduce their tax payments for a longer period. The benefit, under the proposal, applies only to “non-large taxpayers,” it noted.

NOLCO allows companies to deduct operating losses recognized in one period from taxable income in future periods, effectively reducing their tax due.

“In view of the community quarantines resulting in substantial losses across all industries and sectors, we request that the (NOLCO privilege) be extended to all firms, regardless of size, to protect current employment,” the country’s largest business group said.

While the PCCI supports the four to nine-year maximum transition period for businesses under the old incentives regime, the Makati Business Club (MBC) is asking for additional time. MBC is asking for an additional five years from the two to seven proposed in CITIRA, as well as a 10-year period for new investors. MBC said this would enable the Philippine Economic Zone Authority (PEZA) to attract foreign investment as other countries improve their incentive offerings.

“PEZA is one of the most successful investment generators of the country and we should enable it to be a leader in attracting relocators.”

MBC said CREATE will help attract companies looking to diversify their global locations after the pandemic, but said the Financial Incentives Review Board (FIRB) must be given the flexibility to vet “very large” investments. “Proponents of very large investments are more willing and able to negotiate, and the government can and should give them special attention,” MBC said.

Businesses support the granting of “tailor-fit” incentives unique to the needs of foreign businesses.

“The damage COVID-19 and the corresponding lockdown… has seriously damaged the economy. The business sector needs the package of reforms introduced under CREATE to help businesses recover, ensure their resilience and create more sustainable economic opportunities,” PCCI said. — Jenina P. Ibañez