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Casimero and Ancajas title fights postponed

By Michael Angelo S. Murillo
Senior Reporter

TITLE fights of Filipino world boxing champions John Riel “Quadro Alas” Casimero and Jerwin “Pretty Boy” Ancajas scheduled for next month have been postponed to a later date over concerns on the spread of the coronavirus disease 2019 (COVID-19).

In an announcement made yesterday, Top Rank Boxing, which is presenting said fights, said it was postponing all of its events scheduled for March and April because of the COVID-19, with cases of the highly contagious respiratory disease in the United States steadily climbing.

As of this writing, confirmed COVID-19 cases in the US have reached 4,667 with 87 reported deaths.

“The health and safety of our fighters, staff and ESPN’s incredible production team is the most important thing as we plan our next steps,” said Top Rank chairman Bob Arum in a statement.

“We look forward to the day when we can bring our loyal fans world-class boxing once again, but exercising caution is the most prudent thing to do at this moment,” he added.

Affected offerings were those involving Messrs. Casimero and Ancajas.

World Boxing Organization bantamweight champion Casimero (29-4) was to battle undefeated World Boxing Association and International Boxing Federation champ Naoya “Monster” Inoue (19-0) of Japan in a unification fight on April 25 at the Mandalay Bay Events Center in Las Vegas.

Mr. Ancajas (32-1-2), the IBF super flyweight champion, meanwhile, was set to defend in Las Vegas his title against Mexican challenger Jonathan Rodriguez (21-1).

Thirty-one-year-old Casimero expressed his excitement over finally landing a showdown with Mr. Inoue, 27, and vowed to come out triumphant.

He is looking at it as a great opportunity to further solidify his standing in the sport in the event of a victory.

“This is it. I’m excited for this fight. Inoue is a big challenge but I intend to fight it out and come away a winner,” said Mr. Casimero, a three-division champion, in the press conference announcing the big fight in February.

“It’s unfortunate that my fight with Inoue was postponed. But it is for the good of many, to keep everybody safe. We’ll continue preparing and be ready,” said Mr. Casimero, who is already in the States, in a Facebook video post after news of his fight’s postponement came out.

Ormoc native Casimero is coming off a win over South African Zolani Tete by way of a third-round knockout in Birmingham in November while Mr. Inoue beat Filipino Nonito Donaire by unanimous decision in Saitama, Japan, also on the same month.

Mr. Ancajas, for his part, was to engage Mr. Rodriguez in a fight that was supposed to happen on Nov. 3 last year.

Because of the failure of the Mexican to secure his US Visa on time, leaving him unable to complete his medical requirements, Top Rank decided to cancel it.

The Filipino champion eventually got to defend his title a month later against replacement challenger Miguel Gonzalez of Chile, who he defeated by technical knockout in the sixth round to retain his IBF title for the eighth straight time.

Mr. Ancajas was in thick of preparation in Manila as news of the cancellation of his fight broke out.

He was previously training in Dipolog City in Zamboanga.

10th ASEAN Para Games reset further to October

THE already-delayed staging of the 10th ASEAN Para Games in the country was further pushed back after the ASEAN Para Sports Federation (APSF) Board of Governors decided in an emergency meeting on Monday to tentatively stage the event in October over the ongoing concerns on the coronavirus disease 2019 (COVID-19).

Done by way of videoconference, the meeting was held to tackle the status of the ASEAN Para Games relative to the COVID-19 pandemic, which has now affected all Southeast Asian member countries.

The APSF members in the two-hour videoconference, chaired by Philippine Paralympic Committee (PPC) president Michael Barredo, agreed to move the sporting event for the differently abled athletes to Oct. 3 to 9 this year from March 21 to 27.

It is hoped that by moving the date of the staging, the event would finally be held and the COVID-19 disease already contained.

The move was also done to give the Philippines ASEAN Para Games Organizing Committee (PHILAPGOC) added time to prepare and make the needed adjustments.

It marked the second time that the 2020 ASEAN Para Games had been moved.

The sporting event, which usually happens immediately after the SEA Games, was scheduled to take place from Jan. 18 to 25 this year in different parts of Luzon, including in the newly built sports facilities at the New Clark City in Capas, Tarlac, but was deferred to March 21 to 27 because of lack of funds on the part of the PSC, which was tasked to fund the event.

Despite the postponement, the PPC said its preparation would continue.

But with the COVID-19 far from being contained to this date, with local cases now numbering 142 as of this writing, another postponement was rendered inevitable.

As of the moment, training of Filipino para athletes has been put on hold with the country under a state of Public Health Emergency because of COVID-19.

As part of precautionary measures, the Philippine Sports Commission requested all athletes to leave their dormitories for the meantime and placed its facilities on restricted access. — Michael Angelo S. Murillo

There is more to life than golf, says Tiger Woods

AMERICAN Tiger Woods sought to put the cancellations of a slew of golf tournaments due to the coronavirus into perspective on Monday, saying the well-being of others trumped the sport.

“There are a lot more important things in life than a golf tournament right now,” the 15-time major champion wrote on Twitter.

“We need to be safe, smart and do what is best for ourselves, our loved ones and our community.”

Woods, 44, has been struggling recently with pain in his surgically repaired back but had hoped to defend the Masters title he won last year at Augusta National next month.

Last week organizers of the year’s first major postponed the tournament in the hopes of helping slow the spread of the growing pandemic.

The decision to postpone the year’s first major came the day after the PGA Tour cancelled the Players Championship at TPC Sawgrass in Florida after one round and all events through April 5.

Woods’s remarks came on the heels of the Centers for Disease Control recommendation on Sunday that events of 50 or more people should be cancelled for the next eight weeks throughout the United States.

The coronavirus pandemic has infected almost 180,000 people and killed over 7,000 worldwide. — Reuters

Missing out

The University Athletic Association of the Philippines already cancelled Season 82 over the ongoing and concerning threat of the coronavirus disease 2019 (COVID-19). And while it still provided a glimmer of hope of resumption of collegiate play, including the marquee volleyball tournament, albeit with a reconfigured format if the situation improves, at this point nothing is definite yet.

With the abrupt ending to the season, I am not surprised at all that UAAP fans, particularly those of volleyball, are ruing greatly the unexpected turn of events, believing firmly that they are missing out on potentially one of the more exciting seasons of the sport in the country’s biggest collegiate league.

It is really hard to argue with their assertions. I mean, prior to the cancellation of the season, UAAP volleyball was up to a competitive start.

In women’s volleyball, the National University Lady Bulldogs and De La Salle Lady Spikers were the only unbeaten teams with 2-0 and 1-0 records, respectively, with four teams — Ateneo Lady Eagles, Far Eastern University Lady Tamaraws, University of Santo Tomas Golden Tigresses and University of the Philippines Fighting Maroons – third running with identical 1-1 cards.

The Adamson Lady Falcons and University of the East Lady Warriors were at seventh and eighth place with respective records of 0-1 and 0-2.

Level of play was engaging with hardly any team really dominating the other.

NU was undefeated but its victories over UST and Adamson, in that order, were hard-earned ones showing both the strength and vulnerabilities of its team of mixed faces of old and new. La Salle topped rival Ateneo in its lone game in Season 82 but it was not as fluid like what we are accustomed to seeing from the Lady Spikers.

The same goes for the defending champions Lady Eagles, who were deemed to be favorites anew but showed some kinks early on despite their tremendous upside.

UST, FEU and UP, too, were still finding their groove albeit showed fire and competitiveness.

Adamson dropped its lone game for the season but it showed promise and so did UE which displayed fight in the two games it had.

It was seemingly a wide-open race for the title, something not seen in recent league history.

Then there were the impressive individual plays which were not only confined to familiar faces as rookies were front and center, too, which made the season all the more interesting at the onset.

Rookies Faith Nisperos (Ateneo), Imee Hernandez (UST), Thea Gagate (La Salle) and Margot Mutshima (NU) were some of the freshmen who instantly impressed with their showing for their teams.

Also making heads turn with their play were Adamson setter Louie Romero, Ateneo libero Roma Mae Doromal, UE’s Jana Lana and NU’s Chi Arroyo.

These new faces complemented the showing of the veterans like Tin Tiamzon and Joanna Dela Cruz (La Salle), Kat Tolentino and Jhoanna Maraguinot (Ateneo), Risa Sato (NU), Tots Carlos and Isa Molde (UP), sisters Eya and EJ Laure (UST) and Jeannette Villareal (FEU), making the games really worth watching.

The same went for the men’s side.

The league positioned Season 82 as the year the men’s play would be better spotlighted and the UAAP men responded and showed they deserve a better share of the limelight with quality competition.

NU and FEU were tied on top with 2-0 cards, followed by UP, Ateneo and UE (1-1).

La Salle and Adamson were at 0-1 and UST at 0-2.

Just like the women’s play, the men were really fighting it out and angling to get their campaign to a solid start.

Top teams NU (defending champion) and FEU were leading the pack early alright but teams like UP and UE, which had it rough last year, were showing much competitiveness while Ateneo, UST, Adamson and La Salle could not be discounted either; all good signs worth putting forward.

Considering what the fans might have missed out with the abrupt cancellation of UAAP Season 82 volleyball, the ruing over it that we have in our midst is not unwarranted.

But the current situation over the serious threat of COVID-19 undeniably is far important than volleyball, or any sport for that matter, engaging they may be. This is a battle we have to take on with much seriousness and addressed with great resolve.

Who knows? Maybe we will still see UAAP volleyball this season. But until then, stay safe, Philippines.

 

Michael Angelo S. Murillo has been a columnist since 2003. He is a BusinessWorld reporter covering the Sports beat.

msmurillo@bworldonline.com

Optimism reigns

It’s still too early to say the world is on the way to recovery from the novel coronavirus pandemic. The worst is yet to come in many parts of the globe, and it’s fair to argue that no one country has succeeded in keeping the spread in check for good. In the midst of the uncertainty, however, all have remarkably tried to keep or restore a semblance of normalcy to their affairs. In Japan, for instance, the B. League decided to resume competition over the weekend after having suspended the season in mid-February. In South Korea, meanwhile, the Korean Basketball League is prepping for the return to action of its 10 teams by the end of the month.

Which is not to say things are looking up. The B. League’s resumption of play did not come without complications. Even as precautionary measures were taken, principal among them the banning of spectators, not all matches on the docket wound up pushing through. One had to be scuttled because three players recorded a fever prior to tipoff, while another met the same fate after a referee was likewise found to be running a temperature. A third continued, but without three otherwise-healthy imports who opted to stay in the sidelines due to fears of contracting the virus.

All the same, the intent of hoops organizations is to pick up from where campaigns have left off. It’s the case even in China, where the virus first took root; in anticipation of games being held in April, the Chinese Basketball Association has asked its foreign players to return to the country. And, significantly, many have heeded the call. Needless to say, the objectives are commercial in nature from either side; due to the delay, franchises lose potential revenues and stars forego salaries. Whether the prospect of holding set-tos in closed doors is enough remains to be seen, and will undoubtedly be subject to determination by health authorities.

In any case, optimism reigns. If there is anything the moves underscore, it’s the resiliency of all and sundry. Everybody finds ways to overcome unexpected developments. More than just livelihoods are at stake, but life goes on. And mankind manages not just to survive, but thrive.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and Human Resources management, corporate communications, and business development.

KUMU launches expanded streaming services to connect communities amid Covid-19 outbreak

In light of the COVID-19 situation, we at Kumu are releasing the Kumu Lives Streaming Service, so that–despite the mandated quarantine—the lives of Filipinos will go on: people in schools, churches, and in other big groups.

Kumu is engineered specifically for Filipino internet, so there is no delay unlike other platforms. We believe that livestreaming can help our countrymen continue their lives, given the current situation.

We are extending this service to help individuals, groups, private, and public entities to help find a solution to events, schedules, and all other social engagements that have been impacted by the nation’s situation. As a live streaming platform, Kumu realizes its responsibility in that and opens our doors to collaborate with anyone who are still unsure on how to proceed in the coming days.

“If a personal or business event has been affected by COVID-19, just reach out to LivesStream@kumu.ph and the Kumu team will support you in setting up your livestream,” said Roland Ros, Kumu’s founder.

Kumu aims to help hold gatherings for a few, or thousands of Filipinos by conducting private livestreams for free through our app, which is available for download on Google Play or the App Store.

“The initial inspiration came from churches, bands, and schools tagging us on social media and reaching out to us,” Roland said. “We’re actually already working with a few groups like The Favor Church to continue their worship in this situation, and we’re still looking for more organizations like universities and government offices to work with and help continue their lives.”

As an example, Philippine indie band IV of Spades are partnering up with Kumu, as well as Red Bull, to hold their first-ever live stream stage on March 19th, 2020. Thanks to the magic of live streaming, fans of the band will be able to catch the band’s performances held especially for the platform.

QBO to temporarily close Makati HQ in light of Covid-19

QBO Innovation Hub announced over the weekend that they will be closing their Makati HQ this week, in the interest of the health and safety of their community. This is in light of the developments around Covid-19 in the country.

Additionally, they will not be accepting any space reservations until April 15, to deter public gatherings that may serve to spread the infectious disease.

“We will still proceed with most of our programs virtually,” the announcement read. “Attendees will be contacted and will be given further instructions on how to access these programs.”

SM Group allocates Php100M towards COVID-19 outbreak support to PGH, RITM, and other government hospitals

“To ensure the safety of medical frontliners, SM is bringing in personal protective equipment (PPE) – face masks, gowns, visors, hoods, gloves, and shoe covers, as well as urgent medical supplies to help government hospitals who badly need them,” said SM Prime’s Hans Sy. Assistance has also been extended to Philippine General Hospital (PGH) and Research Institute for Tropical Management (RITM) for their urgent needs and for improving their laboratory testing capacity. SM has also allocated PPEs and medical supplies to the UP Medical Foundation Inc. to reach a wider network of hospitals.

To improve availability of tests, SM has reached out to Manila Healthtek Inc. to distribute 20,000 tests for free to government hospitals, once approved for use.

 

KonsultaMD offers Globe and TM mobile access to telehealth hotline sans call charges

More and more individuals are paying keen attention to their health nowadays because of the continuous spread of Covid-19. This development has compelled companies to offer products and services that help address this issue.

One such company is KonsultaMD, a wholly-owned subsidiary of Globe Telecom, which provides a convenient way to get health consultation for every Filipino, particularly relevant in the midst of the Covid-19 pandemic. Globe and TM customers who subscribe to KonsultaMD may now get in touch with a doctor via the 79880 telehealth hotline without incurring mobile call charges.

Maridol D. Ylanan, CEO of Global Telehealth, Inc., said the company has decided to remove the Php 1 per minute charge for calls to the 79880 mobile hotline to make it easier for the public to avail of medical advice anytime they want to. “We want access to trained and licensed medical practitioners to be as easy, affordable, and convenient as possible for every Filipino especially these days when many people are afraid to leave their homes or visit the hospital because of Covid-19. Since there is no physical interaction with our doctors, our customers avoid exposure from other illnesses when they seek advice for their health-related symptoms or queries,” she said.

KonsultaMD is equipped with modules and internal protocols in handling different health issues, including Covid-19, and provides a telephone triage to determine whether a situation is an emergency or not. Its team of doctors can also offer general health information, guidance and specific measures, interim care and self-care recommendations, reading of laboratory and diagnostic results, health coaching and nutrition counseling, and permissible medication.

The platform offers unlimited immediate access to doctors 24/7 through flexible and affordable plans such as an individual subscription fee of Php 15 a week or Php 60 a month for Globe Prepaid and TM customers, deductible from their prepaid load.

Globe Postpaid customers have the option to subscribe to a Php 99 per week plan which may be extended to one additional family member or Php 150 per month with four extensions, chargeable to their monthly bill. Non-Globe and TM customers may also avail of KonsultaMD services through a one-year subscription of Php 150 per month for group or Php 60 a month for individual, payable via credit card or mobile money and subject to regular cell phone charges if call is via mobile.

Subscriptions may be done by visiting their website or calling 79880 toll-free via mobile for Globe and TM customers, or (02) 7798-8000 for non-subscribers.

COVID-19 case count: Philippines (as of March 16)

PRESIDENT Rodrigo R. Duterte on Monday ordered the lockdown of the entire Luzon island to contain a rapid novel coronavirus outbreak, suspending work and public transportation and regulating food and health services, according to his spokesman. Read the full story.

200317Covid_Counts_NEW

Duterte locks down Luzon

By Norman P. Aquino Special Reports Editor
and
Gillian M. Cortez Reporter

PRESIDENT Rodrigo R. Duterte on Monday ordered the lockdown of the entire Luzon island to contain a rapid novel coronavirus outbreak, suspending work and public transportation and regulating food and health services, according to his spokesman.

The President ordered that Luzon be placed under “enhanced community quarantine” to stop the outbreak that has killed at least 12 people and sickened 128 more in the Philippines, presidential spokesman Salvador S. Panelo told reporters in a Viber message.

“It is effective immediately,” he later told CNN Philippines. Mr. Duterte was scheduled to detail his order in a speech later.

The spokesman announced the wider lockdown — initially limited to Manila, the capital and nearby cities — while Mr. Duterte was meeting with an interagency task force made up of Cabinet members against the coronavirus disease 2019 (COVID-19).

The virus that the World Health Organization has called a pandemic has killed more than 6,500 people and sickened about 170,000 more worldwide, mostly in China.

“Please tell people: ‘Don’t panic,’” Trade Secretary Ramon M. Lopez told reporters in a Viber message. “There will be food and necessities, more than enough.”

He added that supermarkets, drugstores and banks would remain open, while cargo transporting basic goods would be allowed to cross the checkpoints unhampered.

Police earlier deployed 1,600 cops and set up 56 checkpoints in Metro Manila to monitor the movement of people under the month-long metro lockdown that started on March 15.

Checkpoints were set up in the cities of Caloocan, Malabon, Valenzuela, Muntinlupa, Las Piñas, Parañaque, Marikina and Pasig, Brigadier General Debold M. Sinas, chief of the National Capital Region Police Office (NCRPO), told a news briefing on Sunday.

The presidential palace had not clarified Mr. Duterte’s latest order as of press time, but it had issued a memo over the weekend detailing general and enhanced quarantine procedures — so-called social distancing measures — for the metro.

The memo that also extended class suspensions until April 15 banned mass gatherings including movie screenings, concerts, sporting events and other entertainment activities, community assemblies and nonessential company gatherings.

Religious gatherings and essential company meetings were allowed as long as people maintained a one-meter distance from each other.

A “general community quarantine” was imposed on the entire Metro Manila that police were to enforce.

Under a general quarantine, the movement of people will be limited to accessing basic goods and work, while police and quarantine officers will be present at border points, according to the weekend memo signed by Executive Secretary Salvador C. Medialdea.

Police will restrict the nonessential entry and exit of people to and from Metro Manila, especially people who are at high risk of being infected such as senior citizens and pregnant women.

Health workers, authorized government officials, those traveling for medical or humanitarian reasons and people on their way to the airport for travel overseas will be exempted from the restrictions. People providing basic services and public utilities and essential skeletal work force also won’t be covered.

Aside from suspending transportation and regulating food and health services, home quarantine will also be enforced in all households under a stricter “enhanced community quarantine,” according to the memo.

Company revenues are expected to fall by as much as 15% because of the Luzon lockdown, George T. Barcelon, director of the Philippine Chamber of Commerce and Industry, said by telephone.

Factories in Luzon would probably shut down and customers from the other two main islands — Visayas and Mindanao — would be affected, he said.

Mr. Barcelon said the government should ensure that people, especially the poor are given grocery items, not just money, during the lockdown period.

He said the slowdown was not limited to the Philippines but was also being experienced by the entire world.

“We have no choice,” he said of Mr. Duterte’s latest order. “We will abide by whatever the government pronounced.”

“I wish it would be shorter,” Mr. Barcelon said, noting that the daily wage earner would be the most affected. “We don’t want them to suffer.”

Mr. Duterte on Thursday ordered the lockdown and suspended work in the Executive branch for a month.

Companies should allow work-from-home and other flexible arrangements to prevent the spread of the virus, he said. Government agencies can form “skeleton workforces” to ensure unimpeded delivery of services, Mr. Duterte said earlier.

Mr. Duterte said the highest alert level — code red sublevel 2 — was up, which means there have been community transmissions and increased infection cases beyond the government’s responding capacity.

Cotabato City and Mr. Duterte’s hometown of Davao City had been placed under quarantine to prevent the virus from spreading in southern Philippines. The provinces of Cebu and Negros Occidental also closed their borders from the rest of the country for 30 days.

Earlier on Monday, Mr. Panelo told a news briefing that the quarantine was “a matter of national survival.” “We have to be resigned to that fact. This is a matter of life and death. The only way to stop this is for us to help ourselves.” — with Jenina P. Ibañez

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PHL companies gauge coronavirus impact

THE country’s top companies are beginning to assess the impact of the coronavirus disease 2019 (COVID-19) outbreak on their businesses, warning of lower consumer demand and continued operational disruption in the coming weeks.

Malacañang on Monday said that President Rodrigo R. Duterte will impose “enhanced community quarantine” in the main island of Luzon, expanding the lockdown of Metro Manila which began a day earlier.

Diversified conglomerate San Miguel Corp. (SMC) told the stock exchange it is seeing lower demand for its food and beverage products from restaurants, bars, hotels and other public establishments amid the decline in tourism activities and ban on public gatherings.

“However, we expect that there will be a corresponding increase in in-house consumption of our food and beverage products,” SMC said.

Petron Corp., a unit of SMC, is similarly expecting a drop in demand for gasoline, diesel and aviation fuel, amid a decrease in the use of public and private transportation. This will also mean lower volume of vehicles on SMC’s tollroads.

“The company does not expect the present situation will cause delays in the delivery of the supply of raw materials for use in our products. Nor do we expect delays in the progress of the construction of our infrastructure projects, unless there is a restriction in the free movement of workers and the delivery of supplies and raw materials,” SMC, whose infrastructure projects include the Metro Rail Transit Line 7 and the Skyway Stage 3, said.

Ayala Corp. (AC) said the increasing number of COVID-19 cases has “raised concerns on its effect on the Philippine economy, which can subsequently impact the outlook for Ayala’s various business interests.”

With the coronavirus outbreak, Ayala Land, Inc. (ALI) said its malls have seen lower foot traffic, while hotels and resorts recorded a decline in bookings. It likewise expects lower sales from residential properties as buyers set aside big purchases to prioritize personal health.

Metro Pacific Investments Corp. (MPIC) said Manila Electric Co. sees strong demand in the residential segment as more people work from home, although there is a drop in demand from industrial and commercial sectors.

Its unit Metro Pacific Tollways Corp. expects a “substantial traffic decline” on the North Luzon Expressway and the Cavite Expressway due to the Metro Manila quarantine. Light Rail Manila Corp. said it has seen a 19% decline in average daily ridership at the Light Rail Transit Line 1 due to school closures and increase number of people working from home.

However, MPIC said the COVID-19 outbreak may not have any substantial impact on its water and logistics segments.

Sy-led SM Investments Corp. (SMIC) is expecting to take a hit from the outbreak, although it is assessing the impact of the closure of malls which began on Monday.

“In Retail, it is reasonable to expect a slowing of growth in the non-essential categories whilst the Food Group is business as usual including planned expansion. Quarter 1 is typically a lean quarter, and the full impact of the COVID-19 crisis remains to be seen as we progress through the year,” SMIC said.

SMIC said the impact of the coronavirus outbreak has been “limited” for banks, as BDO Unibank, Inc. recorded normal loan and deposit growth.

“However, the longer-term impact is uncertain and will depend on the COVID-19’s duration, depth and scale. With its robust business franchise and solid balance sheet, we believe it will remain resilient in the face of this current challenge,” SMIC said.

Lucio C. Tan’s LT Group, Inc. said Asia Brewery, Inc. is observing a spike in demand for its bottled water products, as consumers stockpile essential goods. Tanduay Distillers, Inc. said the COVID-19 outbreak may reduce demand for liquor, while the community quarantine may cut consumers’ spending power as workers stay at home.

“Even before the COVID-19 outbreak, demand for liquor products have already been significantly affected by higher selling prices resulting from the high increase in excise taxes,” Tanduay said.

Jollibee Foods Corp. (JFC), which operates restaurants locally and overseas such as China and the US, said the COVID-19 impact on operations varies in different countries.

“Generally, as of the week of March 9, 2020 — the adverse impact on the restaurant operations was severe in China (including Hong Kong and Macau), less severe in Vietnam and moderate in the Philippines and the United States,” JFC said.

JFC flagged the possibility of raw material shortage due to the lockdown, and the delivery service is helping keep businesses afloat.

Gotianun-led Filinvest Development Corp. and property unit Filinvest Land, Inc. (FLI) are also seeing a drop in sales, particularly in its hospitality and real estate segments. FLI said it is preparing for delayed projects, and in the worst case scenario, canceled and terminated lease deals.

STILL ASSESSING RISKS
The Gokongwei’s JG Summit Holdings, Inc. said it is still assessing the risks although restrictions both locally and abroad “have the potential to change the risk dynamics of the businesses of (its) subsidiaries.”

Ty-led GT Capital Holdings, Inc. said the impact of the virus is “yet to be fully ascertained due to the yet unfolding events of the situation.” All its business units remain operational for now.

Andrew Tan’s Alliance Global Group, Inc. likewise did not specify on the effects of the virus to its various business segments, as it said it is still assessing the material impact of the lower foot traffic in retail and restaurant sales, and overall, to the company’s financial performance.

The wave of announcements yesterday from listed companies led to a 7.92% drop in the Philippine Stock Exchange index to 5,335.37. Trading hours were also cut to 9 a.m. to 1 p.m. until April 14.

Philstocks Financial, Inc. Research Associate Piper Chaucer E. Tan said the community quarantine in Metro Manila is heavily disrupting work schedules and public transport, “putting havoc…on almost all of the commerce of man.” “I think this is a no brainer that this will affect the economy, but the question right now is by what scale and how much?” he said. — Denise A. Valdez