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Cebu Pacific offers antigen tests for P700

Cebu Pacific on Friday launched its “test before boarding” process for passengers flying from Manila, offering antigen tests for only P700 each.

In a statement, Cebu Pacific said passengers from Manila can take an antigen test hours before the scheduled time of departure, with results released within 30 minutes.

The budget carrier said antigen tests are priced at P700, “the lowest rate in the industry.”

Cebu Pacific said the testing facility at the NAIA Terminal 3 is now open for walk-ins from 2 a.m. to 2 p.m. daily. The airline’s passengers need to register onsite and pay the fee directly to the Philippine Airport Diagnostic Laboratory.

Cebu Pacific conducted a pilot run of its “test before boarding” process, with only three testing positive out of a total of 1,143 passengers. The three passengers who tested positive were not allowed to proceed with their flight.

At the same time, Cebu Pacific also offers reverse transcription-polymerase chain reaction (RT-PCR) tests for P3,300 through three partner laboratories, namely PADL, Health Metrics, Inc., and Safeguard DNA Diagnostics Inc. Passengers of Cebu Pacific and Cebgo can book appointments via https://bit.ly/CEBFlightReminders.

Domestic tourists can also get a subsidized RT-PCR test at the UP Philippine General Hospital (UP-PGH). Half of the original cost will be subsidized by the Department of Tourism through the Tourism Promotions Board, which means the passenger has to only pay P900. Passengers need to register five days before their trip via www.tpb.gov.ph/rtpcrphtravel.

SBS sees P500M gain after selling property

SBS Philippines Corp. expects to gain over P500 million after associate Cleon Philippines Holdings Corporation (CPHC) sold an investment property.

Listed company SBS Philippines Corp., which owns 37.25% of CPCH, said in a disclosure on Friday that it expects a one-time gain for financial year 2020 after disposal of the property.

SBS is a chemical trader and distributor, offering chemical products to the food, industrial, pharmaceutical, and personal care industries.

SBS in efforts to improve its distribution capabilities in 2018 took over a warehouse facility then owned by Coca-Cola Corp. for P520 million, through its subsidiary Lence Holdings Corporation.

Lence Holdings is 65% owned by SBS, while SBS Holdings and Enterprises Corp. holds 25% and the Sytengco family controls the remaining 10%.

Cleon Phils. in 2017 acquired a Mandaluyong property for investment purposes.

Shares in SBS went up 35 centavos or 5.65% to P6.55 each on Friday. — Jenina P. Ibanez

Construction starts continue to drop in Q3 as plans get shelved

By Lourdes O. Pilar, Researcher

APPROVED building permits fell by 35.3% year on year in the third quarter as households and investors opted to delay their construction plans amid the gloomy economic backdrop brought by the pandemic.

Construction starts, as measured by building permit approvals, totalled 28,696 in the July-September period from 44,376 a year ago, preliminary data from the Philippine Statistics Authority showed.

The third quarter’s decline eased from the 63.2% drop seen the previous quarter but sharper than the 2.6% fall last year.

These projects involved 5.66 million square meters of floor space worth P64.02 billion, down 48% year on year.

Residential construction, which accounted for the bulk of the approved permits during the period, shrank by 37.2% to 20,178.

Majority of approved projects under this segment came from single house construction, which declined 33.5% to 17,294. It was followed by apartment/accessoria (-50.6% to 2,154), duplex/quadruplex (-58% to 701), “other” residential (-63.6% to 20), and residential condominiums (-80.4% to nine).

Non-residential permits also went down by 34.3% year on year to 4,490.

Broken down, commercial structures fell by 32.1% to 2,857. Also posting declines were institutional (-44.8% to 876), industrial (-35% to 430), agricultural (-6.9% to 202), and “other” non-residential buildings (-24.7% to 125).

Permits for additions to existing structures retreated 44% to 879, while those for alterations and repairs of existing structures decreased by 17.6% to 3,149.

Calabarzon — the region consisting of Cavite, Laguna, Batangas, Rizal, and Quezon provinces — had the most approved permits with 5,635 or nearly a fifth of the total during the three months to September quarter. It was followed by Central Luzon with 4,009 or 14% share and Ilocos Region’s 3,701 or 12.9% share.

Economists traced the third quarter’s fall to the anemic investor appetite amid the pandemic.

University of Asia and the Pacific Senior Economist Cid L. Terosa said the third quarter’s decline was “a sustained manifestation of the lack of business confidence and poor investor sentiment.”

“The overall dour business and economic environment has dulled appetite for investments in physical capital,” Mr. Terosa said in an email interview.

“People and enterprises that had, before the lockdown, plans to build houses and buildings and with cash flows affected by the virus spread, may have opted to discontinue plans and postpone for a later date,” UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said in an email.

“As mobility increases and the economy continues to open up, building permit approvals are expected to rise, but not to pre-pandemic levels. 2020 approvals will definitely take a hit,” Mr. Asuncion said.

Mr. Terosa said the fourth quarter’s fall will be shallow due to less gloomy business and economic outlook.

“For 2020, approved building permits will fall unprecedentedly,” he said.

ERC to enforce new rules on allowable outages of power plants

THE Energy Regulatory Commission (ERC) has set new regulations for the allowable planned and unplanned outages of coal, gas, diesel, renewables, oil-fired thermal and combined cycle power plants, it said on Friday.

In a statement, the ERC said these “stringent rules” are meant to ensure the reliability, security and affordability of electric power supply while promoting accountability among generation firms, system operators (SOs), and transmission network providers (TNPs).

Based on its rules on the interim reliability performance indices and equivalent outages per year of generating units, SOs and TNPs should use the ERC’s allowable planned outage days in planning for their Grid Operating and Maintenance programs (GOMP).

“However, if the SO and the TNP shall utilize planned outages beyond what is allowable…the same shall provide a report as to the reason for such consideration,” the ERC wrote. The report must then be included in the quarterly GOMP submission to the ERC.

Meanwhile, the standard for unplanned outages must be “strictly observed”, said the regulator. It added that the unplanned outage allowance in days per year is the maximum cap per power plant technology.

“Not only shall this ensure that the generating plants will be properly maintained, consequently resulting to lesser incidents and occurrences of unplanned outages,” the ERC said.

In a separate statement, ERC chairperson and chief executive officer Agnes VST Devanadera said the parameters set for planned outages will “serve as a guide for the implementation of the GOMP, while the ones for the unplanned outages will serve as the standard for the generating units.”

If people or entities do not follow these rules, the ERC will issue a notice of non-compliance with an order to comply and to explain within seven days of receipt.

“After the Notice and Order shall have been issued by ERC and the person or entity still refuses and fails to comply within the reglementary period of what is incumbent upon the person or entity, ERC shall impose the necessary fines and penalties,” the agency said.

The sanctions, fines and penalties are based on ERC Resolution No. 3 issued in 2009.
The new rules will take effect 15 days after their publication in a newspaper of general circulation. — Angelica Y. Yang

DoE remits P4.15B to LGUs for virus fight

THE ENERGY department has so far remitted P4.15 billion from its Energy Regulations 1-94 (ER 1-94) program to help local government units (LGU) stem the spread of the coronavirus disease (COVID-19), the agency said in a statement on Friday.

Broken down, P1.05 billion went to the Development and Livelihood Fund, Electrification Fund, P2.07 billion went to the Reforestation Watershed Management Fund and P1.03 billion went to the Environment Enhancement Fund.

Under the ER 1-94 program, power generating companies are required to give one centavo for every kilowatt-hour of sales to their host communities to fund electrification, livelihood and development projects in the area.

Earlier this year, the DoE allowed for these funds to be used in helping LGUs fight the virus. The funds have been used for feeding programs, personal protective equipment, medical supplies and equipment, and the construction of medical facilities, among others.

Initial data from the DoE showed at least P462 million of ER 1-94 funds were directly remitted by generation companies to their host LGUs as of Sept. 30.

The department added that it is processing the transfer of an additional P278 million in ER 1-94 funds to host communities and regions.

“This unprecedented experience has given the energy sector the opportunities for creativity, flexibility and ingenuity to reorganize, on the local and national level, and find innovative ways of providing essential health services to all,” the department said. — Angelica Y. Yang

BSP makes full award of bills

THE CENTRAL BANK fully awarded its offer of 28-day bills on Friday as demand remained strong, with investors positioning amid expectations of recovery next year.

The Bangko Sentral ng Pilipinas (BSP) on Friday sold the programmed P80 billion in 28-day securities as its offer was oversubscribed, with tenders reaching P127.35 billion.

However, this was lower than the P141.25 billion in bids seen in the previous week’s auction.

This is the 14th consecutive week that the BSP made a full award of its offer of short-term securities.

Rates for the BSP bills ranged from 1.6699% to 1.69%, lower than the 1.68% to 1.7% band logged in the previous auction. As a result, the average rate of the securities dropped to 1.6837%, down 0.84 basis point from the 1.6921% recorded a week ago.

The bills and term deposits are tools used by the central bank to better guide market interest rates and gather excess liquidity in the financial system.

BSP Deputy Governor Francisco G. Dakila, Jr. said demand for the short-term securities was spurred by strong money supply in the economy.

“The sustained strong market interest for the BSP bills reflect the ample liquidity in the financial system,” Mr. Dakila said in a statement on Friday.

Meanwhile, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said the decline in tenders this week from the previous auction shows that investors are repositioning based on their outlook for next year, as short-tenored papers used to see higher demand.

“The theme is repositioning for the 2021 recovery. Market is winding down and preparing for a rebound next year,” Mr. Asuncion said in a Viber message.

Bids for the BSP’s 13-day term deposits auctioned off on Wednesday also declined to P334.459 billion, below the P340-billion offering as well as the P401.251 billion in tenders logged on Dec. 9. — L.W.T. Noble

DBP net income down at end-September

The Development Bank of the Philippines (DBP) saw its net profit drop by almost a third in the nine months to September, amid heightened loan loss provisions during the pandemic.

The state-lender’s net profit stood at P3.24 billion as of September, declining by 26.69% from the P4.42 billion logged in the same period of 2019, it said in a statement on Friday.

DBP Executive Vice President for Corporate Services and Concurrent Head of Operations Marietta M. Fondevilla said the lower income was mainly caused by higher provisioning for credit losses and income taxes.

The bank also saw increased administrative expenses by its field units for their pandemic response, she added.

Meanwhile, the lender’s credit portfolio grew as loans jumped 13.91% to P374.85 billion in the nine months ended September from P329.07 billion a year ago.

“DBP broadened its support to priority industries as we throw our full commitment to rebuild, recover and revitalize the economy that has been battered by the pandemic and the series of calamities,” DBP President and Chief Executive Officer Emmanuel G. Herbosa said in a statement.

Broken down, nearly half (46%) or P175.72 billion of the loans disbursed went into infrastructure and logistics projects. Meanwhile, P77.23 billion went to social services, P43.12 billion went to environment projects, and P26.48 billion went to micro, small and medium-sized enterprises.

The lender’s total deposits also climbed 50% to P754.95 billion as of September, backed by the 58% surge in term deposits and the 22% rise in low-cost deposits.

DBP’s assets rose 38.89% to P945.39 billion at end-September from P700.86 billion a year ago. The bank’s net worth was at P64.01 billion.

Total capital likewise inched up P9.49% to P64.01 billion from P58.56 billion. Mr. Herbosa said this was boosted by the P6-billion infusion from the national government under Republic Act No. 11494 or the Bayanihan to Recover as One Act.

Its capital adequacy ratio stood at 13.76%, higher than the industry average of 12.39% and also beyond the minimum regulatory requirement of 10%.

“While DBP’s fiscal position remains strong and we are confident of reaching our full-year financial targets, the bank’s focus is to optimally mobilize our available resources not just for recovery but also towards improving the resiliency of our priority sectors against future economic shocks,” Ms. Fondevilla said. — L.W.T. Noble

Peso weakens as BSP expects faster inflation

THE PESO weakened against the greenback on Friday as the central bank said it expects faster inflation this year and in 2021.

The local unit closed at P48.085 per dollar on Friday, shedding four centavos from its P48.045 finish on Thursday, data from the Bankers Association of the Philippines showed.

Week on week, it also depreciated by 1.5 centavos from its P48.07-per-dollar close on Dec. 11.
The peso opened Friday’s session at P48.05 per dollar. It reached a high of P48.04 while its closing level was its weakest showing for the day.

Dollars traded rose to $797.82 million on Friday from $674.59 million the previous day.

The peso weakened versus the greenback due to risk-off sentiment following the Bangko Sentral ng Pilipinas’ (BSP) new inflation forecasts, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

“The peso exchange rate closed weaker after higher inflation estimates by the BSP,” Mr. Ricafort said in a text message.

The central bank on Thursday kept benchmark interest rates untouched, as expected. However, it revised upwards its inflation forecasts for 2020 and 2021 to 2.6% (from 2.5%) and 3.2% (from 2.7%), respectively.

BSP Deputy Governor Francisco G. Dakila, Jr. said the revised outlook was due to the faster increase in food prices and the recent uptick in global oil prices.

Meanwhile, a trader attributed the peso’s depreciation to cautiousness in the market ahead of the holidays.

“The peso depreciated from some market caution ahead of possible developments over the weekend and from the upcoming holiday season,” the trader said in an email. — LWTN

PSEi ends lower as investors sell shares before the holidays

PHILIPPINE SHARES ended lower on Friday as investors chose to pocket their gains as the trading year winds down.

The benchmark Philippine Stock Exchange index (PSEi) shed 25.22 points or 0.34% to end at 7,272.80, while the broader all shares index inched down by 0.94 point or 0.02% to 4,349.35.

Summit Securities, Inc. President Harry G. Liu said the local bourse declined due to investors liquidating their stocks as the year comes to a close.

“Some of the investors are closing down their portfolios… There’s a five-day holiday. Nobody can leave, nobody can go shopping. It’s just that those (investors) would usually…take a long holiday. Some of them would sell,” Mr. Liu said in a phone interview.

He added that news about coronavirus 2019 (COVID-19) vaccine candidates have been “maintaining the market.”

Philstocks Financial, Inc. Research Associate Claire T. Alviar said the market declined led by the heaviest firm in the index, SM Investments Corp.

“The 2.65% decline of SM weighed on the performance of the index. Investors are now looking into the development of a COVID-19 vaccine,” Ms. Alviar said in a text message.

Issues regarding vaccine procurement in the country are impeding hopes of a recovery, she said.
“We think that the ongoing issues of the vaccine at home are not helping to lift sentiment, but rather it becomes a hurdle to recovery hopes,” she said.

Sectoral indices were mixed. Industrials rose 74.04 points or 0.78% to 9,551.95; services climbed 11.17 points or 0.72% to 1,548.66; and mining and oil improved 9.46 points or 0.09% to 9,548.44.

Meanwhile, financials dropped 17.53 points or 1.16% to 1,488.69; holding firms fell 49.45 points or 0.65% to 7,511.54; and property decreased 9.18 points or 0.24% to 3,684.52.

Value turnover on Friday reached P11.88 billion with 23.55 billion issues switching hands, rising from the P9.26 billion worth of shares that changed hands in the previous session.

Advancers and decliners were tied at 110 apiece, while 50 names ended unchanged.

Net foreign selling climbed to P1.11 billion on Friday from the net P739.83 million that left the market the previous day.

Ms. Alviar said heavy net foreign selling also caused the PSEi to decline. — A.Y. Yang

Honda officially launched the 5th generation All-New City

The all-new Honda City has advanced features, now sportier with new RS variant

Honda Cars Philippines, Inc. (HCPI), Honda’s automobile business unit in the Philippines officially launched the 5th generation All-New Honda City last Oct. 22, 2020, Thursday evening, via a virtual event streamed on HCPI’s official Facebook and YouTube pages.

Through the launch of the All-New City, with its stylish exterior design, outstanding interior space, and advanced technology, the brand asserts its 2030 vision of leading the advancement of mobility and enabling people around the world to improve their daily lives.

Moreover, the launch reaffirmed HCPI’s commitment to providing mobility to Filipinos especially on its 30th year in the Philippines and continues to expand its presence in the market.

Grand concept

Introduced in the Philippine market in 1996, the Honda City was first launched as an exclusive model for the Asian region and has become HCPI’s best-selling model over the years.

With over 131,000 units sold since its arrival in 1996, the City consistently reflected its core values of smart style, outstanding interior space and strong commanding presence through its sportier exterior, and comfortable and spacious interior that surpasses other subcompact sedans in the market.

Now on its 5th generation, the All-New City was developed under the grand concept of “Ambitious Sedan.”

Exterior

The All-New City’s exterior boasts a cutting-edge sleek design. With its thick long nose, lowered full height, and widened full width, the 5th generation All-New City is now longer by 111mm, wider by 54mm, and lowered by 10mm, compared to the 4th generation City.

It sports a new Chrome Front Grille that is paired with a new Front Bumper. The front fascia is even more stylish now with its new LED Daytime Running Lights across all variants that expresses its integrated solid wing face, and presents Halogen Projector Headlights for other variants. At the back, rear LED Tail Lamp is also now standard across all variants.

On the side, sharp horizontal character lines inspired by the Katana Blade In Motion is visible for a more commanding road presence.

For a more convenient driving experience, the All-New City maintains its Power Adjustable Door Mirrors across all variants, and Power Folding Door Mirrors with Integrated Side Turn Signals for the 1.5 RS CVT and 1.5 V CVT variants.

Interior

The interior styling of the All-New City emphasizes high-quality textures and functional approach to achieve sophistication and comfort for both driver and passengers. Inside, it features a spacious cabin with soft pads and polished textures, plus accents to further enhance its high-class sedan feel.

Adding to the comfort and advanced features, the All-New City gets an upgrade with its new One Push Start System across all variants, specifically Smart Entry Keyless Entry System for 1.5 RS CVT and 1.5 V CVT, and Keyless Entry for 1.5 S CVT and 1.5 S MT variants.

Furthermore, the All-New City is now equipped with an 8-inch Advanced Touch screen Display Audio with Apple Car Play, Android Auto & WebLink, that is now available in 1.5 RS CVT, 1.5 V CVT and 1.5 S CVT variants.

Elevating comfort further, it is also inclusive of a new Air Conditioning Design with Rotary Knobs, Digital Display & Illumination.

The center console offers an ergonomic design that allows passengers to have their essentials within reach.

On the other hand, the 1.5 V CVT emphasizes a posh and sophisticated interior with Ivory accents and a high quality full black interior for the1.5 S CVT variant.

Rear passengers also get to enjoy additional comfort through the expanded leg room and knee clearance. On top of that, the 1.5 RS and 1.5 V CVT variants now include new Rear Ventilation to further enhance the comfort provided for rear passengers.

All-new City RS

The 5th generation All-New City also inherits and embodies Honda’s sporty DNA through its new RS variant. For the first time in the Philippine market, the All-New Honda City is available in a 1.5 RS CVT variant that gives it a sportier and more premium look. The RS variant comes with a complete set of sporty upgrades including a High Gloss Black front grille with RS logo emblem, sporty front bumper and grille, full LED Headlights with LED Daytime Running Lights (DRL), LED Fog Lights, Sporty Black Power Folding Door Mirror with Integrated Side Turn Signals, Gloss Black Trunk Spoiler with RS logo, and a newly designed sporty 16-inch Alloy Wheels.

The cabin is fully equipped to reflect a complete look of sportiness with a combination o newly designed leather and suede seat material with Black and Red stitching interior trims, new Sport Pedals, 8 (4 + 4 Tweeters) Speakers, and a Multi-information Display with red illumination that are exclusively available for the 1.5 RS CVT variant.

It is also now equipped with a new Remote Engine Start, which is a first-time feature for the City, while Paddle Shifters are also offered for an engaging driving experience.

For added protection, a Side Curtain Airbag is available to enhance the safety of the passengers. All of these added features give the All-New City RS an even more enhanced sporty image.

Engine and transmission

The All-New City is powered by a new 1.5-Liter 4 Cylinder DOHC i-VTEC engine to provide an ideal balance of performance and fuel efficiency. Coupled with Continuous Variable Transmission (CVT), this powertrain is able to produce up to a maximum power output of 121ps at 6,600rpm and a maximum of 145Nm of torque at 4,300rpm.

For those who prefer driving a Manual Transmission, a wide-range 6-Speed Manual Transmission option is available for the 1.5 S MT variant.

Similar to recent Honda City models, Honda’s Eco Assist System, which consists of the ECON mode and Eco-Coaching Ambient Light is still available to help encourage drivers to drive efficiently.

In addition, all passengers can enjoy their conversations inside the car with the All-New City’s lessened noise and vibration. Moreover, this is the first City to adopt spray polyurethane foam insulation at the bottom ends of the pillars, and the amount of sound absorber adopted for the engine under cover is 3.5 times more compared to the previous model. The thickness of the body is increased and stiffeners to suppress vibration is placed in each position to provide a quiet vibration-less cabin with a high-quality feeling.

Safety

As Honda continues to strengthen its “safety for everyone” global campaign, the All-New City continuously prioritizes safety through Honda’s G-force Control (G-CON) Collision Safety Body that enhances impact absorption for the added protection of passengers in the event a collision occurs.

To add to this, customers may expect top-notch collision safety performance on the All-New City through its advanced safety features that are now available across all variants. This includes Vehicle Stability Assist (VSA) with Agile Handling Assist (AHA), Emergency Stop Signal (ESS), Anti-Lock Braking System (ABS), Electronic Brake Force Distribution (EBD), Hill Start Assist (HSA), and Power Door Locks with Speed Sensing Auto Lock.

Moreover, the 1.5 RS CVT and 1.5 V CVT variants are equipped with a Multi-view Rear Camera with dynamic guidelines.

Aside from the maintained Front Driver and Passenger Airbags, the All-New City further leveled up its safety feature as Side Airbags are applied across all variants.

With these superior safety features, the All-New City boasts a 5-star ASEAN NCAP safety rating as it gives customers better safety and peace of mind on the road.

Availability and colors

The All-New City is now available at all 34 Honda dealerships nationwide and comes in six (6) colors:

  • Ignite Red Metallic (New color; 1.5 RS CVT, 1.5 V CVT, and 1.5 S CVT)
  • Platinum White Pearl (New color; 1.5 RS CVT and 1.5 V CVT only)
  • Modern Steel Metallic
  • Taffeta White (1.5 S CVT and 1.5 S MT only)
  • Lunar Silver Metallic (1.5 V CVT and 1.5 S CVT only)
  • Crystal Black Pearl
    *Platinum White Pearl- Additional PHP 20,000

As a treat to our customers, Honda will be offering the All-New City at the following Special Introductory Suggested Retail Prices from Oct. 22, 2020 until Dec. 31, 2020: Per DTI Fair Trade Permit No. FTEB-106761 Series of 2020.

Leslie Corporation expands its BBQ Bob franchise amid pandemic

BBQ Bob, a brand under the snack food company Leslie Corporation, is set to expand with more store openings after the announcement of its franchising offer in the third quarter of 2020. BBQ Bob is a small-format store that serves freshly cooked ready-to-eat BBQ and meals at affordable prices. Priority will be given to franchisees who wish to open stores in Metro Manila, Cavite, and Laguna.

“We launched this franchising option to open opportunities for aspiring entrepreneurs who are looking for a business model that is proven to work even during a crisis. For the brand, this is the biggest change we will be doing,” said Ferdinand Obuyes, senior sales area manager of Leslie Corporation. 

The company surpassed last year’s sales as of September 2020. Network revenues have also grown by 57% as compared to 2019, with a 20% increase in sales across all stores from June to September. 

BBQ Bob’s franchise system is buttressed by the over 35-year franchising experience of its sister brand, Minute Burger, which has more than 700 stores in the Philippines. Like Minute Burger, BBQ Bob’s return on investment is estimated to be 18 to 24 months. 

There are six BBQ Bob stores as of the fourth quarter of this year.

Navigating the various lockdown restrictions was the greatest challenge BBQ Bob had to overcome this year. The brand was able to overcome these by leveraging Minute Burger’s experience, committing to the safety of both crew and customers, and focusing on food quality. 

“We have found a way to consistently serve ulam (viands) and barbecues that are always soft and juicy, with a very short preparation time at the store so our customers are sure it’s freshly prepared shortly before they order,” said Mr. Obuyes

BBQ Bob accepts contactless payments by being an active merchant on FoodPanda, GrabFood, and LalaFood, as well as MenuGo for customers in Cavite. 

FRANCHISE DETAILS

A BBQ Bob franchise needs an initial investment of around P115,000. It includes franchise fees for two stores, initial payments for site processing, and application and documentation processing. The term is for four years and is renewable on a per-store basis. Franchisees can expect to shell out a royalty fee and advertising and marketing fees; BBQ Bob does not take a percentage of sales.

Stores are entirely on a take-out format sans dine-in space. The approximate cost of store construction, based on standard design, is pegged at P14,000 per square meter. Support for growth, operations, and expansion is provided to franchisees through a sales team. The company said the model works when a franchisee is able to oversee more stores. 

Based on their experience with Minute Burger, Mr. Obuyes said that franchisees should aim for three stores.

“We monitor the news and development about the pandemic almost daily,” said Mr. Obuyes. “We feel that ‘post-pandemic’ is still quite a way to go, although we hope it will truly end very soon. While we hope for the best, we are also planning for every worst-case scenario to make sure we are ready for whatever lies ahead of us in 2021 and beyond.” — Patricia B. Mirasol

Early data show two doses of Oxford/AstraZeneca vaccine provoked good immune response

LONDON — Oxford University’s COVID-19 vaccine candidate has a better immune response when a two full-dose regime is used rather than a full-dose followed by a half-dose booster, the university said on Thursday, citing data from early trials.

The developers of the vaccine candidate, which has been licensed to pharmaceuticals company AstraZeneca, have already published later stage trial results showing higher efficacy when a half dose is followed by a full dose, compared to a two full-dose regime. However, more work needs to be done to affirm that result.

The latest details from the Phase I and 2 clinical trials released on Thursday made no reference to the half-dose/full-dose regime, which Oxford has said had been “unplanned” but approved by regulators.

Once seen as the frontrunner in the development of a coronavirus vaccine, the British team has been overtaken by US drugmaker Pfizer, whose shots have been rolled out in Britain and the United States this month.

Data published earlier from the later Phase 3 trials showed efficacy was 62% for trial participants given two full doses, but a more robust 90% for a smaller sub-group given first a half, then a full dose.

In its statement on Thursday, the university said it had explored two dosing regimes in early-stage trials, a full-dose/full-dose regime and a full-dose/half-dose regime, investigated as a possible “dose sparing” strategy.

“The booster doses of the vaccine are both shown to induce stronger antibody responses than a single dose, the standard dose/standard dose inducing the best response,” the university said in a statement.

The vaccine “stimulates broad antibody and T cell functions,” it said. — Reuters

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