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Common COVID-19 vaccine concerns: Fact or fiction?

By Patricia B. Mirasol

CAN immunocompromised individuals get the coronavirus disease 2019 (COVID-19) vaccine? Can those previously affected by the virus still benefit from it? These questions and other common COVID-19 vaccine-related concerns were addressed at a Feb. 23 health forum organized by the Philippine College of Physicians and the Philippine Society for Microbiology and Infectious Diseases.

Dr. Kathryn U. Roa, vice-president of Philippine College of Physicians — Southern Mindanao Chapter, discussed these questions, as culled from the guidelines of the World Health Organization (WHO) and the US Centers for Disease Control and Prevention (CDC).

Claim: The COVID-19 vaccine is not for everyone.

True, but cases are rare. The only current contraindication to COVID-19 vaccination is an allergy to a previous dose of COVID-19 vaccine and any of its components. Those who experience an immediate allergic reaction after the first dose should not receive the second dose.

Claim: I have allergies to other vaccines and injectable medications, therefore I cannot get the vaccine.

False. People who experience an immediate allergic reaction, such as difficulty of breathing, to any other vaccine or injected therapy must first be evaluated by an allergist to assess possible allergic reactions.

Claim: I have food and/or medication allergies, therefore I can’t receive the COVID-19 vaccine.

False. There are special groups who can receive the COVID-19 vaccines. Those with allergic reactions to insects and latex, and those with well-controlled asthma, can receive the COVID-19 vaccine. Patients with autoimmune diseases such as Bell’s palsy may also get vaccinated, provided they are informed that not enough data is yet available to establish the vaccine’s safety and efficacy for such conditions.

Claim: I’m pregnant, therefore I can’t get the COVID-19 vaccine.

Discuss this with your doctor. There is limited data on the vaccine’s effect on pregnant women and their babies. Among the small group of women included in trials and in animal studies, there were no safety concerns noted. Pregnant women should consider certain factors such as the level of COVID-19 transmission in their community, as well as their personal risk of contracting the virus, when making a decision about the vaccine.

Claim: If I get vaccinated, I can give COVID-19 to my baby through breastfeeding.

False, but discuss the benefits versus risks of breastfeeding with your doctor. There is limited data available, but the vaccine is not a live virus, and is thus unlikely to pose a risk to the breastfeeding child. The WHO does not recommend discontinuing breastfeeding if the mother is vaccinated.

Claim: I am immunocompromised, therefore I can’t get the COVID-19 vaccine.

The COVID-19 vaccine is not contraindicated for immunocompromised individuals, unless the individual has allergies to the vaccine or its components. The optimal timing of one’s COVID-19 vaccination must be discussed with the attending physician, however. Immunocompromised patients, or patients with diseases such as cancer and human immunodeficiency virus (HIV), may benefit from the vaccine because they are at higher risk of developing complications from COVID-19.

Claim: I have comorbidities but am not yet a senior citizen, therefore I will not benefit from the COVID-19 vaccine.

False. You will benefit from the COVID-19 vaccine. Wait for your priority group’s turn to come up. Adults of any age with medical conditions — such as chronic kidney disease, heart failure, severe obesity, and chronic obstructive pulmonary disease (COPD) — have been shown to be at increased risk for severe illness from COVID-19. If you have underlying medical conditions, you are among the persons to whom the COVID-19 vaccination is recommended and prioritized.

Claim: I currently have COVID-19, therefore I should get the vaccine now.

False, do not get the vaccine right away. People who have COVID-19 now should wait until they have recovered.

Claim: I can’t spread COVID-19 to others once I’ve been vaccinated.

We still need more information as to whether the vaccines protect against asymptomatic transmission. Unless herd immunity is reached, wearing masks, hand washing, and physical distancing are the best ways to keep everybody else safe.

Claim: If I got a recent non-COVID vaccine, I can still get a COVID-19 shot as scheduled.

Wait at least 14 days. There should be a minimum interval of 14 days between administration of the COVID-19 vaccine and any other vaccine against other conditions.

Claim: It’s okay to mix and match vaccines and use different brands.

No, vaccine brands are not interchangeable at this time. The WHO recommends that the same product should be used for both doses. The US CDC gives a stronger statement: the mRNA COVID-19 vaccines (like Moderna) are not interchangeable with each other or with other COVID-19 vaccine products.

Claim: COVID-19 vaccines are not halal (or food and items that are permissible according to Islamic law).

False. Muslim leaders in the UK have already issued a favorable fatwa (a legal opinion or ruling issued by an Islamic scholar) on the vaccines. Pfizer, AstraZeneca, and Moderna have stated that their vaccines do not use gelatin or pork products. Indonesia has certified China-made Sinovac’s CoronaVac as halal.

Claim: I already had COVID-19, so I won’t benefit from the vaccine.

It is not known how long natural immunity lasts. Early evidence suggests natural immunity may not last very long, and experts hope that the vaccination will offer a more durable immunity.

Claim: Since COVID-19’s survival rate is so high, I don’t need the vaccine.

It’s true that most recover, but it’s also true that some people develop severe complications. More than 2.4 million people worldwide have died from COVID-19 thus far. Also, it may cause long-term health problems. Getting vaccinated protects you and the people around you, as well as those who cannot be vaccinated.

Claim: COVID-19 vaccines have really bad side effects.

You may experience side effects, but they are not necessarily bad. Side effects from COVID-19 vaccines are caused as part of the immune response to vaccines. Side effects occur during the first week — but most likely one or two days — after vaccine administration.

Claim: If I don’t experience side effects from the vaccine, it means it didn’t work.

False. Many people will get the vaccine and not experience side effects. This does not mean that the vaccine did not work for them.

REAL-WORLD DATA
Dr. Roa said that vaccines can’t be compared head-to-head, because the definition of the measured outcome per study differs. “Ninety percent efficacy could mean the efficacy against hospitalization due to COVID-19, or the efficacy against death due to COVID-19, or the efficacy against severe COVID-19 infection,” she said. “The vaccine efficacy is almost the same anyway. The WHO says that, as long as efficacy is 50%, then it’s good enough to be used.”

The US CDC, in its Feb. 19 Morbidity and Mortality Weekly Report, noted that of the 13,794,904 Pfizer/BioNTech and Moderna vaccine doses that were administered between Dec. 14, 2020, and Jan. 13, 2021, in the United States, 6,994 adverse post-vaccination events were reported. Of the 6,994, only 9.2% were classified as serious.

There were 4.5 reported cases of anaphylaxis (a rapidly progressing, life-threatening allergic reaction) per million doses administered. The US CDC’s Vaccine Adverse Event Reporting System detected 21 cases of anaphylaxis, or 11.1 cases per million doses, after the administration of 1,893,360 first doses of the Pfizer-BioNTech COVID-19 vaccine. The rate of anaphylaxis for Moderna, on the other hand, is 2.5 cases per million COVID-19 vaccine doses administered.

For comparison, Dr. Roa told the forum audience that the incidence of anaphylaxis in the inactivated influenza vaccine is 1.4 per million doses administered.

SMC spends P1 billion to vaccinate personnel, extended workforce

SAN MIGUEL Corp. (SMC) is spending around P1 billion for a program that aims to vaccinate its 70,000 employees and extended personnel for free against the coronavirus disease 2019 (COVID-19).

In a statement on Tuesday, SMC President Ramon S. Ang said the company has secured the COVID-19 vaccine from various sources and has been making plans for its vaccination strategy under the “Ligtas Lahat” task force in partnership with concerned government agencies.

Mr. Ang said employees will be inoculated on a voluntary basis. However, he wishes that all eligible employees will sign up to be vaccinated once the COVID-19 vaccine is available.

“It is our civic duty and our best chance at protecting ourselves and those we love. It is the best thing we can do today to help contain this pandemic, protect the vulnerable, and help speed up economic recovery,” Mr. Ang said.

”Our program is in line with our core value of malasakit and aims to create a safe and healthy workplace, so that we can further contribute to our country’s economic recovery,” he added.

Meanwhile, Mr. Ang said SMC will use vaccines that have passed safety protocols and received emergency use authorization from the local Food and Drug Administration (FDA).

As of writing, the FDA has granted emergency use authorization to COVID-19 vaccines manufactured by Pfizer-BioNTech, AstraZeneca, and Sinovac.

He added that the company will continue to enforce public safety methods such as wearing masks, social distancing, and proper hygiene to reduce the spread of COVID-19 and protect its workforce.

“The business sector will play an important role in vaccinating enough people to reach herd immunity,” Mr. Ang said.

On Tuesday, SMC shares at the stock exchange dropped 0.32% or 40 centavos to close at P125.80 apiece. — Revin Mikhael D. Ochave

There’s no such thing as a ‘faithful retelling’ of the Arthurian legend

KING ARTHUR by Charles Ernest Butler (1903) — EN.WIKIPEDIA.ORG

JUSTICE LEAGUE director Zach Snyder has said he is interested in working on a “faithful retelling” of Arthurian myth. Cut to a small horde of Arthurian scholars (myself included) entering stage left to loudly proclaim that there is no such thing as a “faithful retelling” of the King Arthur myth. King Arthur is one of the most pervasive legends of all time. What scholars call the “Arthurian mythological concept” has developed over several centuries — and over several cultures. Indeed, what makes the Arthur legend so enduring is its very lack of fidelity.

Although many of us today get our first taste of the Arthurian legend from films such as Guy Ritchie’s King Arthur: Legend of the Sword (2017) or TV shows such as the BBC’s Merlin (2008-2012), the core elements of the story that we recognize remain largely medieval.

Arthur’s name first appears in the work of 9th century Welsh historian Nennius. However, the legend as we know it today — knights in shining armour, damsels in distress, Round Table, Holy Grail, etc. — gallops into view from around the 12th century onward. This heralds the start of what is now known as the “Romance Tradition.”

Chances are that if you’ve read a version of the Arthur story today it is likely to be one of these Romances — most likely Thomas Malory’s 15th century La Morte D’Arthur or an early 20th century re-telling such as T.H. White’s The Once and Future King. The tradition also proved very popular with the Victorians — especially with the Pre-Raphaelites, whose visual depictions of Arthurian legend frame the way we see the legend today.

For example, their paintings popularized captivating female figures such as the virginal Maid of Astolat (or Shallot), the dangerous enchantress Morgan Le Fay, and the beguiling Lady of the Lake, the temptress Nimue.

One thing that remains consistent throughout the centuries however is the Arthurian myth’s ability to remain relevant to the people, countries, and eras in which it is being retold.

In the late 17th century, for example, Arthur was enlisted in the wake of the Glorious Revolution of 1688 as a means of bolstering support for the new Protestant regime and their political allies. Physician-poet Richard Blackmore wrote two lengthy epic poems — Prince Arthur (1695) and King Arthur (1697) — comparing the new King William III to Arthur and praising the way in which the monarch’s religious (and, crucially, Protestant) piety would “fresh Life to Albion […] impart.”

This was certainly not the first time Arthur had been associated with the English throne. Both the Tudors and the Stuarts adopted the mythical king to suit their own political purposes, with Henry VII going so far as to repaint the Winchester Round Table with a Tudor Rose at its center. The paint job was probably in honor of a state visit by the Holy Roman Emperor Charles V in 1522 and — just to ensure that Charles got the message — Henry also had himself depicted on the table, sitting in Arthur’s place.

Nor was it the last time that Arthur would find himself so conscripted. Elements of the Arthurian story — most notably the figure of Merlin — were used in the early 18th century by the Hanoverian monarchs and their supporters to bolster their own claims to an inherently “British” identity.

Queen Caroline, a clever and well-informed curator of her own public image, capitalized upon the 18th century’s rediscovery of its national history through ancient heroes. In collaboration with architect William Kent, she developed Merlin’s Cave — a name suggestive of a grotto but in reality more of a thatched folly (a round house with a thatched roof) designed around the Merlin myth — in the gardens at Richmond in 1735.

Numerous panegyric poems — poems designed to publicly praise and flatter — followed including two by “a lady subscribed Melissa.” The first praises “Her Majesty Queen Guardian” as the inheritor of Merlin’s legacy. The second, entitled “Merlin’s Prophecy,” envisages Frederick, Prince of Wales as “Ordain’d, to wield the Sceptre Royal […] And rule o’er Britons, Brave, and Loyal.”

As these examples illustrate, the one thing we can really say with any certainty about the Arthurian mythos is that fidelity is — as with any myth — an impossible concept.

Arthur has come a long way since his 9th century origins and our modern interpretations show no signs of altering that trend. Whether it’s making us laugh about the airspeed velocity of an unladen swallow in Monty Python and the Holy Grail (1975) or putting women center stage in Cursed (2020), the appeal of Arthur’s mythical world is its adaptability.

He might be “The Once and Future King,” but there’s no such thing as faithful in Arthur’s mythical world.

 

Amy Louise Blaney is a PhD Candidate and Associate Lecturer in English Literature at Keele University.

RCBC income down 7% in 2020

RIZAL COMMERCIAL Banking Corp. saw its net income decline in 2020 as it ramped up loan loss reserves amid the coronavirus crisis. — BW FILE PHOTO

RIZAL COMMERCIAL Banking Corp. (RCBC) booked a lower net profit last year as it boosted its loan loss reserves amid the coronavirus crisis.

The lender’s net income fell 7% to P5 billion in 2020 from P5.388 billion a year earlier, RCBC First Senior Vice-President and Corporate Information Officer Ma. Christina P. Alvarez said in a briefing on Tuesday.

Provisions for credit losses rose 2.5 times to P9.3 billion last year as the bank sought to “manage the higher risks due to the pandemic and economic slowdown,” Ms. Alvarez said.

“We have ensured that we have more than adequate liquidity and more than enough capital buffers,” RCBC Senior Executive Vice-President and Treasurer Horacio E. Cebrero III said in the same briefing.

In the fourth quarter alone, RCBC’s net profit improved 14.2% to P1 billion from P876 million in the last three months of 2019.

“We saw our CASA (current account savings account) move up significantly and our investment securities move up significantly in the fourth quarter,” Ms. Alvarez said.

Meanwhile, the bank’s gross revenues rose 6% to P37.9 billion in 2020 from P35.9 billion in 2019.

Net interest income also jumped by 18% to P26.3 billion last year amid a decline in funding costs and higher margins.

The bank’s loan book expanded 5% to P456.6 billion as the small and medium enterprises (SME) and consumer segments recorded increases of 8.5% and 5%, respectively.

“We believe that there are opportunities for growth in the loan book in 2021, so that will be for accrual income,” Ms. Alvarez said.

Amid the crisis, the bank’s nonperforming loan ratio inched up to 2.9% from 2.15% in 2019.

Total deposits reached P535.8 billion driven by the 21% expansion in its CASA deposits.

On the other hand, RCBC’s operating expenses in 2020 inched up 1.4% year on year to P22.1 billion. The bank embarked on rationalization efforts amid the pandemic, which caused its cost-to-income ratio to improve to 58.3% as of December 2020 from 60.8% a year earlier.

The bank’s capital adequacy ratio stood at 16.1% while its common equity Tier 1 ratio was at 12.6% as of end-December, both beyond the regulatory minimum.

Meanwhile, return on equity and return on assets were at 5.6% and 0.7%, respectively.

RCBC officials said an expected improvement in fee income as well as changes to their operations will help boost the bank’s net profit this year.

“If you get it right on operational efficiency, this will be a very big contributor to your net income. So we continue to focus on that — be it on customer focus or operating efficiency inside the bank,” Mr. Cebrero said.

RCBC President and Chief Executive Officer Eugene S. Acevedo earlier said they shut down 66 branches in 2020 as branch transactions declined and online banking gained ground during the pandemic.

The bank will continue to reap benefits from its “rationalization efforts” in 2021, Ms. Alvarez said.

“We also believe the volume of transactions will be increasing in 2021. There will be more business activities so that will feed into fee income,” she added.

Last year, RCBC launched its Diskartech app which offers digital services including a basic deposit account meant to lure the unbanked. Ms. Alvarez said the app will likely see higher usage once they launch loan offerings through the platform in the latter part of 2021.

RCBC shares closed unchanged at P17.30 apiece on Tuesday. — Luz Wendy T. Noble

AllHome opens new branch in Cauayan, Isabela

LISTED AllHome Corp. has opened another branch in Isabela as part of its ongoing expansion outside of Metro Manila.

The Villar-led firm said in a statement on Tuesday that its new branch is located at Barangay Sillawit in Cauayan City, Isabela.

The new store, spanning 7,300 square meters, is the 7th branch to open in Luzon that is outside of Metro Manila, and is the 15th large free-standing store format. It also brings AllHome’s total store network to 52 branches.

“With the launch of AllHome’s branch in Cauayan City, contractors, architects, interior designers, and even homeowners and design enthusiasts no longer have to travel far to access a wide range of reasonably-priced home building products and services,” AllHome Chairman Manuel B. Villar, Jr. said.

AllHome President Benjamarie Therese N. Serrano said the new branch in Cauayan lets customers check out the company’s main categories to complete their homes, namely: hardware, construction, tiles and sanitary wares, furniture, appliances, linens, and homewares.

Meanwhile, AllHome Vice-Chairman Camille A. Villar said the new branch in Cauayan brings with it the shopping convenience enjoyed by the company’s other customers.

“In a short span of seven years, AllHome has revolutionized the home depot shopping experience. Not only do we let customers consult in-house building experts, we are among the first to offer AllHome Personal Shopper service in 2020,” Ms. Villar said.

“Customers can submit orders through Viber, and settle payment through online bank transfer, online credit card, and QR code payments. Purchases are then delivered via our own delivery service or the customer’s choice of delivery service provider,” she added.

On Tuesday, AllHome shares at the stock exchange fell 2.44% or 20 centavos to finish at P8.00 each. — Revin Mikhael D. Ochave

Mobile app delivers on-demand hospital services

ZENNYA is an Uber-like mobile app platform that delivers health, wellness, and medical services on demand under 30 minutes.

ZENNYA HEALTH, a healthcare services startup, expanded its mobile medical app which now provides access to wellness providers, nurses, and doctors, as well as electronic medical records. It provides last-mile medical logistics that enable the delivery of hospital and wellness center services in the home or office.

Its Uber-like platform mobilizes hundreds of wellness and medical providers, as well as motorcycles and cars, for services that include full blood laboratory tests, vaccinations, virtual telehealth consultations with in-house doctors, medically focused massage therapy, and coronavirus disease 2019 (COVID-19) tests (antigen, antibody, and RT-PCR or reverse transcription polymerase chain reaction).

The services are at standard medical prices: 15-minute virtual consultations are at P500; a COVID-19 RT-PCR swab test with a 24- to 36-hour turnaround time is at P5,275; dengue screening is at P1,150; human papillomavirus infection (HPV) vaccination is at P4,500. Other packages and tests can be selected on the app through its search function.

The challenges of inconsistencies in medical records and other paper-driven processes are addressed through its integrated digital platform that connects patients to laboratories, and allows for bi-directional data sharing with Zennya’s medical, laboratory, clinic, hospital, and insurance partners. It also allows for the sourcing of authentic medication directly from manufacturers and suppliers using its own in-house hub-and-spoke logistics facilities.

“Zennya seeks to provide a convenient, hospital-grade experience for individuals who prefer to receive medical services at the comfort of their homes without having to visit conventional healthcare facilities,” said David Foote, Zennya founder and CEO, in a statement.

Systems within the app guide nurses every step of the process to ensure best practice medical standards for each service. They are able to perform full patient registration, medical intake, and consent through their mobile devices. Services are delivered using custom-designed medical kits, with all supplies barcoded and tracked, to minimize errors and increase end-to-end accountability.

“Upon arriving at the client or customer’s location, a nurse asks where they would like the service to be performed. Once identified, the nurses, using their Zennya provider app, confirm the client’s information by taking a picture of the client and asking the client to provide consent with a signature,” Mr. Foote said. “Once confirmed, the nurse/therapist will commence with the service.”

Mr. Foote added that Zennya’s nurses, therapists, and drivers are screened, equipped, and trained with infection prevention equipment. Temperatures are checked daily, with each employee tested for COVID-19 every two weeks before being released on the field as fit to work. Full and new protective personal equipment (PPE) are also provided before every patient session.

Zennya’s partners include St. Luke’s, GSK, Zuellig, Maxicare, Roche, Singapore Diagnostics, San Miguel Foundation (Better World EDSA laboratory), MyHealth Clinic, and Arc Hospital. It is Maxicare’s partner for home service phlebotomy and rabies vaccinations, and is the logistics provider for MedExpress pharmaceutical deliveries.

The Zennya app covers Alabang, Bonifacio Global City, Las Piñas, Makati, Mandaluyong, Manila, Parañaque, Pasay, Pasig, Quezon City, San Juan, and Taguig. Zennya aims to launch in Cebu by the third quarter of this year. — Patricia B. Mirasol

CCP launches online project series with a music contest

THE CULTURAL Center of the Philippines (CCP) is giving young artists an opportunity to show their creativity through the “Kanto Kultura” project, a series of online activities for music, broadcast and film, literature, theater, dance, and visual arts.

The brainchild of CCP Board of Trustees members Nikki Junia, Stanley Seludo, and Dr. Jaime Laya, with the support of CCP President Arsenio J. Lizaso, the project “seeks to encourage Filipino talents to create artistic content that showcase innovation and creativity.”

The “Kanto Kultura” series begins with the online music competition called Kanto Canta, showcasing original Filipino compositions integrated with traditional musical instruments, and a fusion of musical genres.

Ms. Junia, who is a music educator, said during a press conference on Feb. 17 held over Zoom, that the restrictions brought by the pandemic have increased the challenges to attain the CCP’s objective in “fostering the consciousness of cultural heritage and its development.” She added that the competition was established to provide a platform for artists to develop their skills and as an opportunity to promote their work.

“This is a chance for our bands and instrumentalists to have a voice and showcase their compositions,” Mr. Seludo said in a mixture of English and Filipino.

The online band competition is open to natural-born Filipinos (18 years and up) who currently reside in the Philippines. Applicants should have no existing professional and commercial entertainment contracts. The contest is open to one-man bands and groups with a maximum of seven members. Applicants are also required to create a YouTube page to upload their entries.

The original compositions are to be written in Filipino or another native language, or a mix of both. The composition should not have been previously uploaded on any social media or music streaming platform prior the competition. The song is to be accompanied with a performance music video showing the performers playing instruments. The songs should be about hope and inspiration.

The submission period is from Feb. 20 to March 20. Fifteen finalists will receive P150,000 worth of prizes and plus local and international opportunities. Three quarter-finalists will be chosen from the top 15 every quarter. Quarter-finalists will be announced on April 3.

The entries will be judged according to music quality and appeal (40%), presentation and creativity (40%), and content and song message (20%).

“We are talking to several record labels to work with us with the distribution and partnership. So if this is sealed, then it is another means for these artists to be recognized and to be heard on the live streaming platform,” Mr. Seludo added.

For more details and inquiries, visit Kanto Kultura’s Facebook page at facebook.com/kantokultura or Instagram: @kantokultura, or contact the CCP Marketing Department at (02) 8832-1125 local 1409/1800 or e-mail ccpkantokultura@gmail.com. — Michelle Anne P. Soliman

Security Bank, Krungsri to infuse P3 billion in capital into SB Finance

SECURITY Bank Corp. and Bank of Ayudhya Public Co. Ltd. are looking to infuse P3 billion in capital into SB Finance, Inc. — BW FILE PHOTO

SECURITY BANK CORP. and Thailand-based Bank of Ayudhya Public Co. Ltd. (Krungsri) are set to infuse P3 billion in fresh capital into their consumer finance subsidiary SB Finance, Inc. for its expansion.

Security Bank told the local bourse on Tuesday that the two banks have obtained internal approvals to infuse the additional capital as SB Finance gears up to expand its business and invest in digital technology.

SB Finance will issue 25,850,000 common shares that will be subscribed to on a 50:50 basis by Security Bank and Krungsri once they get approvals from regulators, it said.

Krungsri currently owns a 50% stake in SB Finance, Security Bank’s consumer finance unit, which it bought in October 2020 at P1.53 billion.

SB Finance President and Chief Executive Officer (CEO) Abigail Marie D. Casanova said the bank will use the proceeds to further expand its business as it plans to launch new products and invest in the latest cloud-based technology aiming to boost end-to-end customer service.

“As we anticipate the recovery of the economy and the resurgence of pent-up demand in the consumer finance segment, the additional capital will be used for business expansion as we are set to launch multiple products  this year starting with Car-4-Cash, a proven successful loan product offering of Krungsri in Thailand,” Ms. Casanova was quoted as saying.

The unit will also use the funds to improve its “internal capabilities” to support its growing operations.

“The capital infusion of both Security Bank and Krungsri into SB Finance is an expression of support in the recovery of the Philippine economy.  This move shows that SB Finance is ready to help foster economic growth as businesses begin to recover from the effects of the pandemic,” Security Bank President and CEO Sanjiv Vohra said in the same statement.

SB Finance is planning to expand its loan portfolio and product offerings, the statement said.

“The partnership will make a customer-centric, digital lending experience available to all Filipinos and small business owners, while building on Krungsri’s expertise as the number one consumer finance provider in Thailand,” it added.

Krungsri is the fifth-largest bank in Thailand based on assets, loans, and deposits. It also has a regional network of 698 branches, including those in Laos, Myanmar, and Cambodia.

Its parent entity is Japan’s Mitsubishi UFJ Financial Group, Inc. In the Philippines, Mitsubishi UFJ runs MUFG Bank, Ltd. and Acom Consumer Finance Corp., which offers unsecured personal loans.

Meanwhile, Security Bank is the eighth biggest domestic universal bank in the Philippines with total assets of P650.8 billion as of September 2020.

It posted a net income of P1 billion in the third quarter of 2020, down 63% from P2.7 billion in the prior year amid higher provisioning for loan losses due to the coronavirus pandemic. This brought its nine-month net profit to P6.7 billion, down 13% year on year.

Security Bank shares went up by 0.7% or 90 centavos to close at P129.90 apiece on Tuesday. — Beatrice M. Laforga

Holcim Philippines names new president, CEO

HOLCIM Philippines, Inc. has appointed Horia Ciprian Adrian as president and chief executive officer of the listed cement manufacturer in a move which he described as an honor after his predecessor’s “remarkable” job.

Mr. Adrian will take on the position left by John William Stull, who led the company for the past three years.

“It has been a privilege to have worked with the men and women of Holcim Philippines that showed resilience and dedication to grow the company amid the challenges. I am truly grateful for the support given,” Mr. Stull said in a statement.

Mr. Stull will be taking on another role in the LafargeHolcim Group.

“The focus on Health, Cash and Cost strengthens the company’s position to ensure a strong comeback and capture the growth and opportunities ahead. I wish Horia and the organization all the best,” he added.

Mr. Adrian’s appointment is effective beginning on March 1.

“It is an honor to be appointed as the new President and CEO of Holcim Philippines. The business in the Philippines is a significant contributor to the LafargeHolcim Group and it is truly exciting to continue the remarkable work done under John’s leadership,” he said.

Mr. Adrian served as chief executive in Romania and was the market head of emerging Europe. He has been appointed to a variety of management positions, including CEO roles for the company’s Russia, Eastern Europe and commonwealth of independent state, and Middle East offices, since joining LafargeHolcim in 2000.

He also managed the group’s business transformation.

On Tuesday, Holcim Philippines shares at the stock market declined by 2.03% to close at P6.28 apiece. — Keren Concepcion G. Valmonte

AC Health partners with Sanofi Philippines for better treatment programs

AYALA HEALTHCARE Holdings, Inc. (AC Health) has entered a partnership with Sanofi Philippines to provide Filipinos with better healthcare treatment, especially for those with lifestyle diseases.

The collaboration aims to better support lifestyle disease patients with diabetes and hypertension with their health maintenance through education and providing accessible healthcare solutions.

“I am delighted that we are now working with Sanofi for healthcare, a sector that we believe would be a key driver of growth to the Ayala Group,” Ayala Corporation President and Chief Operating Officer Fernando Zobel de Ayala said at the memorandum signing on Tuesday.

Mr. Zobel said the coronavirus disease 2019 (COVID-19) pandemic further strengthened the conglomerate’s commitment to healthcare.

“If there is one thing that we have learned in this pandemic, it has been the power of collaboration between the government, the private sector, and specifically the many healthcare companies and institutions that have been at the forefront of this pandemic,” he added.

Sanofi also aims to improve primary care capacity-building, to educate patients more, and to make healthcare solutions more accessible.

“Together with AC Health, we are both united on our mission to provide Filipinos living with chronic diseases such as diabetes and hypertension with the personalized care they deserve. We believe that health is for all,” country lead for Sanofi Philippines and General Manager for Sanofi General Medicines Dr. Amal Makhloufi said at the conference.

“By bringing together our combined network of clinics and hospitals, and Sanofi’s pharmaceutical expertise, I am confident we can improve access to chronic care across multiple touchpoints and even in the digital space. I am equally excited about working with Sanofi, to provide continuing education to our doctors and healthcare workers,” AC Health President and Chief Executive Officer Paolo Maximo F. Borromeo said. — Keren Concepcion G. Valmonte

Banksy’s balloon girl and Kate Moss photo top bill at London art sale

BANKSY, Girl with Balloon, 2004 — BONHAMS.COM

LONDON — A print of Girl With Balloon by Banksy and a photograph of supermodel Kate Moss are among top attractions in a sale this week celebrating 70 years of British art.

The sale, titled “British. Cool.,” at auction house Bonhams, in London, will also feature boots designed by Damien Hirst and photos of The Who and The Beatles.

“So the sale overall is a celebration of British creativity from 1950 to now and the idea is that we are celebrating all aspects of creativity, so not just the fine arts but also photography, fashion, entertainment, memorabilia and also prints and multiples,”  said head of sale Janet Hardie.

Girl With Balloon, an image of a young girl holding a heart-shaped red balloon that was originally painted as a mural on London’s Waterloo Bridge, is one of Banksy’s most recognizable works.

An original painting of the work shredded itself with a mechanism hidden in its frame moments after selling for more than 1 million pounds ($1.4 million) in an auction at Sotheby’s in 2018.

The print, one of 18 by Banksy in the Bonhams sale, is expected to sell for 100,000 to 150,000 pounds.

The Kate Moss photo, a studio proof of a lenticular 3D print by Canadian/British artist Chris Levine, is expected to fetch between 20,000 and 30,000 pounds. Artist and subject have donated the work to raise money for the charity Oxfam GB.

The sale will take place on Feb. 25. — Reuters

Pandemic increases interest in retirement planning

THE PERCENTAGE of Filipinos who started thinking about their retirement plans was the highest in Asia as the coronavirus pandemic pulled down household incomes, a survey by Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) showed.

Around 90% of Filipinos surveyed recognized the importance of getting started on retirement planning amid the ongoing health crisis, Manulife Philippines said in a press release on Tuesday, citing the results of its latest “Manulife Asia Care Survey” which assessed the common concerns and priorities of 4,000 people across Asia.

This was the highest percentage recorded in the region and compares with the regional average of 73%.

It said the high level of interest showed “increased focus on achieving financial security amid uncertainty” even as 20% of the Filipino respondents said they were concerned about their declining incomes amid the crisis.

Filipinos have also grown more conscious of their health, with 97% of respondents saying they started self-monitoring.

Most or 75% of the Filipino respondents tracked their body weights, which was the highest percentage in the region, along with Malaysia. This was followed by checking the quality of sleep, blood pressure and the number of steps taken.

“We see that the pandemic has turned the spotlight on health and retirement for many Filipinos. Amid all the uncertainty, they are finding ways to take more control of these aspects of their lives,” Richard Bates, president and CEO of Manulife Philippines, was quoted as saying.

Almost all of the 520 respondents in the Philippines said they made an effort to adopt healthier lifestyles, with 69% saying they started exercising and 61% improving their diets.

This was higher than the regional average, Manulife Philippines said.

Meanwhile, around 87% of the respondents said they plan to buy a new insurance product over the next six months, above the 71% average in Asia, and are looking at products related to health, hospitalization, life cover, retirement and children’s education.

Mr. Bates said Filipinos are now more inclined to have their insurance policies managed via digital platforms, with 70% of the respondents saying so, but many still prefer to speak with insurance agents as 53% recently conferred with an agent about getting insured.

“The Philippines remains one of the most under-insured markets in the region, but technology is enabling more Filipinos to get the protection they need,” he said.

Insurance penetration in the country or the overall contribution of the sector to the economy remained at 1.69% as of September 2020.

Meanwhile, insurance density or the amount of premiums per capita went down by 4.21% to P1,989.94 as of the same period. — B.M. Laforga

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