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Travel, trade sectors to benefit from digitalization

THE COUNTRY’S travel and trade sectors could benefit from fully digitizing processes in response to the coronavirus pandemic, Perlin.net Chief Executive Officer Dorjee Sun said.

Mr. Sun said at the BusinessWorld Economic Forum that Filipino seafarers and overseas Filipino workers should have digital identification that would allow them to travel freely, as well as come home safely.

He added that digitalized and blockchain-enabled documentation can be used in place of letters of credit and certificates of origin in trading goods, which could help governments improve efficiency.

“The Philippines is tremendously reliant on travel. It’s a trade hub. It’s a tourism center,” he said.

The shift to digital could also expand sectors like business process outsourcing.

“The other area that’s a powerhouse for you economy, when you look at call centers, business process outsourcing, this absolutely is a chance for the Philippines to expand its work,” Mr. Sun said.

“And the work from home, I think the city of Manila, all of your cities do have terrible congestion because of traffic. How do you really optimize your economy because people can work from home and not have to lose hours a day in terms of transport? How can you add that as income, as economic benefit for the families?”

In terms of digital access, he said the Philippines has good mobile penetration and digital wallet use, but noted Filipinos can also demand for more digitized government services.

Anti-Red Tape Authority Deputy Director General Eduardo V. Bringas said at the same online session that government agencies must be streamlined before they are automated.

The problem of government, he said, is that it functions under siloed systems.

“We tend to have our own kingdoms. In the siloed system, you would enclose yourself to others. You don’t work with other agencies and that is the cause of red tape.”

SAP Southeast Asia Chief Operating Officer Khor Chern Chuen said that he tells his clients  in the private sector not to automate complexity.

“Usually, our advice to our clients is to look at the end-to-end value chain and to digitize them so that you can gain insights that will allow you to further fine-tune your business process and make business decisions,” he said.

Perlin.net’s Mr. Sun said traceability and transparency on a digital ledger will be important for purchasing in the future.

He explained that Airbnb, for example, did not streamline hotels but took unused inventory of houses and organized it around an online platform.

“You’re now recreating whole supply chains or recreating whole processes. It is still streamlining, but it’s just totally different.” — J.P. Ibañez

Smart to upgrade 40% of sites to 5G by end of next year

SMART COMMUNICATIONS, Inc., the wireless arm of PLDT, Inc. plans to upgrade 40% of its sites to fifth generation (5G) by the end of 2021.

The company said in a press release on Sunday that it will upgrade 4,000 of its base stations to 5G next year, along with deploying an additional 4,000 long term evolution or LTE base stations nationwide. The company rolled out 279 base stations in the third quarter to support its 5G networks.

The PLDT fiber infrastructure supporting Smart’s 4G, 3G, and 2G has reached 422,000 kilometers as of November. Smart has also increased its LTE and 3G base stations to over 58,000, which is 20,000 more than 2019.

Smart has also put up more than 700 new towers so far this year as it plans to reach 726 by the end of 2020.

“Not all of these new sites are already related to the permits we have received so far, as it will take many months after permits have been granted until a site is fully built and operational,” PLDT Chief Technology and Information Advisor Joachim Horn said. “These sites will help us increase our LTE population coverage to 94-95%, cover more municipalities and provide more capacity for dense areas. This goes along with all other expansion efforts done this year.”

Smart has secured 1,600 permits since the Anti-Red Tape Authority issued a joint memorandum circular that gave way to compliance orders for local government units to release permits for building cell sites. It plans to roll out 2,000 cell sites next year.

PLDT’s investments in capital expenditures or capex reached a total of P432 billion from 2011 to September 2020. It sees a capex of at least P70 billion for 2020.

The company booked a net income of P19.69 billion as of September, up 23% from the same period last year.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Jenina P. Ibañez

Cold storage facilities to be built in Pampanga, Batangas, Davao

FOUR COLD storage warehouses worth P280 million are set to be established in three provinces, according to the Department of Agriculture (DA).

The DA, through the National Meat Inspection Service (NMIS), will build the facilities in Magalang, Pampanga; Tanauan and San Jose, Batangas; and Malagos, Davao del Sur.

Agriculture Secretary William D. Dar said the facilities will aid in the recovery of the hog and poultry industries which were affected by the economic slowdown caused by the pandemic and the African Swine Fever outbreak.

“Efficient management and delivery of food crops, fruits and vegetables, fishery, livestock and poultry products are imperative and critical, in response to the country’s food security requirements,” Mr. Dar said.

Mr. Dar said the four cold storage facilities will also come with meat cutting facilities and are expected to expand the country’s ability to produce mechanically deboned meat, which the food processing sector depends on for raw material.

“NMIS will partner with hog farmers and poultry raisers, industry stakeholders, respective local government units, and the academe in Pampanga, Batangas, and Davao to put up, operate and maintain the cold storage and meat-cutting facilities,” Mr. Dar said.

NMIS Executive Director Reildrin G. Morales said negotiations with stakeholders are still ongoing.

“Once established, the facilities will provide services to meat processing industries, serve as an avenue for research and learning, and help enhance the conduct of the government’s meat industry regulatory functions,” Mr. Morales said.

Funds to build the facilities will come from the DA’s P24-billion supplemental budget as authorized by Republic Act No. 11494 or the Bayanihan to Recover as One Act (Bayanihan II). — Revin Mikhael D. Ochave

Reservation sales at DMCI Homes’ Pasig project reach P12.6 billion

RESERVATION SALES at DMCI Project Developers, Inc.’s (DMCI Homes) Pasig project Prisma Residences has reached P12.6 billion, selling close to its total inventory.

The company said in a statement on Friday that there continues to be high demand for residences in the area after it sold 3,024 of the 3,148 residential units as of November.

For the three-tower Prisma Residences launched in 2017, the Consuji-led property developer reported that it had sold 94% by August last year.

Prisma Residences 1-3 bedroom units are priced at P4.004 million or more. Its Astra building is expected to be ready for turnover by April 2022, while the Celeste building will be ready in April 2023 and the Kiran building in April 2024.

The company announced last month that it plans to complete 10 projects valued at P13.9 billion before the year ends, including 4,088 residential units, of which 3,500 have been sold.

DMCI Homes had said the lockdown caused a three-month long delay because of a 76-day work stoppage.

In the nine months through September, DMCI Homes contributed a net income of P472 million to its parent DMCI Holdings, down about 74% from P1.8 billion in the same period a year ago.

Its revenues fell 36% to P9.5 billion after projects were delayed due to restrictions on construction activities.

DMCI Homes is part of diversified engineering conglomerate DMCI Holdings, Inc., which has power, mining, construction, and water interests.

Shares in DMCI Holdings closed at P5.77 each on Friday, up 1.23% or seven centavos. — Jenina P. Ibañez

Looking beyond the pandemic: Invest in a suit

If clothes make the man, then the suit must be like a god among clothes.

WE have all been in little more than the simplest of clothing over the nine months we have spent indoors because of the COVID-19 pandemic. In anticipation of better days (since news of several workable vaccines has come out), a brand proposes investing in a suit now.

Suit It Up Manila is launching its campaign, Suiting Forward, with three key outfits.

The Black Diamond three-piece peak-lapel suit with custom gold pinstripes “speaks of Suit it Up Manila’s commitment to a whole new level of bespoke, uniqueness, and individuality,” the brand says in its publicity material. Since the pinstripes are made up of letters (publicity photos show the pinstripes spelling out the brand’s name) the customer can alter the letters to personalize what his pinstripes will say, aside from the color of his suit. It can symbolize a special event, a memory, or even the name of his bride and their wedding date. “We are the first custom tailor in the country to offer such a personalised service,” said Franco Ongkingco, Suit Up Manila’s COO, in an online interview with BusinessWorld.

The other two suits are a tuxedo in dark teal, with a wide velvet shawl lapel, and a suit in a silver-gray tartan with a notch lapel jacket made of wool silk and linen.

The fabrics used are made by Holland & Sherry, a fabric mill that produces textiles used by the best tailors of Savile Row, which was founded in 1836 (it even had operations set up in pre-revolutionary Russia).

“Luxury brands as established and successful such as Holland & Sherry are steeped in history and tradition,” said Mr. Ongkingco. “As such they operate in a very conservative and prudent fashion. They wanted to get to know us well enough both financially and personally before they decided whether we were the right fit to carry their illustrious brand. It took quite some time to build their trust, but as soon as they were able to understand who we were and [we were able to] prove our capability to move their products, we solidified our relationship. We have been very close ever since. In 2018 we also paid a visit to both their offices at Savile Row in London and Peebles in Scotland where we were able to learn more about their rich heritage and the way they do business. We are forever grateful for the opportunity to carry their brands at our flagship stores.”

Of course, one of the benefits of getting a bespoke suit (these start from P15,000 to P55,000 and could shoot up even higher) is making sure that it fits like a second skin.

“The feeling of a good suit has always been referred to as a second skin because of the way that it moves with you,” said Mr. Ongkingco. He detailed the fitting process: “A client’s experience usually starts off with our Suit Specialist’s guidance in determining the cloth, design, and accessories to be used depending on the purpose of commissioning a suit, and the client’s overall preference with regard to fit and overall appearance. We also take into account client’s personalized requests such as embroidery or fabric customization. Client’s body measurements are taken and observations are noted as to the typical stance, shoulder angle, and arm pitch among others. Our clients come back for their fittings where adjustments are noted and made on the garment based on the observations of our alteration specialists and client preference.”

The company has two locations, in Makati’s Arnaiz Ave. and at the SM Mega Fashion Hall. It was founded in 2015, and made a buzz a few years ago with a suit party inspired by Florence’s Pitti Uomo.

To get a suit, one undergoes live fittings. “We comply with the health and safety protocols mandated by government. We felt that there was a need to invest in equipment such as high-end German air purification systems, ultraviolet disinfection technology and fumigation equipment among others. Our discussions follow proper social distancing and our fitting experience is limited to the tailor in protective equipment to provide protection for our clients and themselves,” he said.

Like most businesses this year, they too were affected by the pandemic. “Volume during the lockdown for the months of May and June were non-existent as with most industries around the world. However, we are observing more and more people suiting up, especially for weddings because the uncertainty of the pandemic also triggered a let’s-not-wait-for-things-to-get-better attitude when deciding to tie the knot,” noted Mr. Ongkingco.

Thus the impetus for the Suiting Forward campaign, which has Nico Bolzico (socialite and actress Solenn Heusaff’s groom) as its ambassador: “One thing that is certain during this pandemic is that love wins and life goes on. We’ve observed that a lot of couples have become more decisive than ever with their wedding plans and their intention to ultimately tie the knot sooner rather than later,” said Mr. Ongkingco.

We did have to ask though: how important could a suit be during these times? Quite frankly, hardly anyone will see them (discounting the social media posts and the Zoom screencaps from after the wedding). But that is a short term view. “[A] suit is a worthy investment more than ever to those who appreciate its utility and value,” Mr. Ongkingco noted. “Whether as a professional who wears suits on a daily basis or as someone who prefers to express himself by dressing well when going out, the pandemic has not stopped or changed their habit of doing so. Unlike fast fashion which is dependent on trends, a custom-made suit with superior material, proper construction, and ample care can be worn to last for years.

“In spite of the pandemic and its restrictions, there is a natural yearning for people to live life. It’s something that can only be curtailed for so long. Each of us have been accustomed to a certain lifestyle which we want to continue to experience,” he said.

And for those looking forward to the time when they can ditch their work-from-home shorts and sweatpants for a suit, Mr. Ongkingco gave care instructions: “Depending on the fabric quality one chooses, the fabric care of suits can be as simple as bringing them in for dry cleaning every couple of months. More frequent users need to bring them in for cleaning monthly. Brushing and removing stains immediately also helps preserve the fabric better. Since wool is a natural fiber it is best to let it breathe on occasion by bringing them out of your closet. The manner by which they are pressed is also critical to preserving its form like its lapel roll and collar structure among others.”

If clothes make the man, then the suit must be like a god among clothes. We asked Mr. Ongkingco if a suit can make a man more handsome, or does the suit improve a man by projecting and protecting his value (and values). “A good suit may not contribute to your good looks, though with the proper silhouette it should project an image of success and accomplishment. You see, suits have been associated with formal engagements for over a century. As such, when a man wears a suit, he immediately stands out from the crowd. A suit is a tool that is used to enhance stature in society,” he said.

To set an appointment for a fitting contact Suit it Up Manila through Instagram and Facebook at @suititupmanila. — Joseph L. Garcia

Farmgate price of palay rises 1.6% in late Nov.

THE AVERAGE farmgate price of palay, or unmilled rice, rose 1.6% week on week to P15.63 per kilogram in the third week of November, with the price down 0.4% year on year, the Philippine Statistics Authority (PSA) said.

In its weekly update on palay, rice, and corn prices, the PSA said the average wholesale price of well-milled rice rose 0.2% to P37.64 while the retail price was flat at P41.29.

The average wholesale price of regular-milled rice rose 0.2% to P33.52 while the retail price rose 0.1% to P36.39.

The farmgate price of yellow corn grain rose 0.6% week on week to P11.95.

The average wholesale price of yellow corn grain rose 0.8% to P19.59 while the retail price rose 0.4% to P24.54.

The farmgate price of white corn grain rose 1% week on week to P13.03.

The average wholesale price of white corn grain rose 0.8% to P16.20 while the retail price rose 0.4% to P25.11.

The PSA released two weeks’ worth of data in its latest update.

In the second week of November, the farmgate price of palay fell 0.2% week on week to P15.38 per kilogram. The price fell 1.5% from a year earlier.

The farmgate price of yellow corn grain rose 0.5% to P11.88, while the farmgate price of white corn grain rose 0.6% to P12.90. — Revin Mikhael D. Ochave

Zaldarriaga appointed as Meralco VP

JOE R. Zaldarriaga, spokesperson and head of corporate communications at Manila Electric Co. (Meralco), has been promoted to the rank of vice president (VP), the company said.

His appointment was effective as of Tuesday, the company said. Meralco’s Board of Directors approved Mr. Zaldarriaga’s new position in its regular meeting held on Nov. 27.

Mr. Zaldarriaga was also the recipient of the University of Manila’s Dr. Mariano V. delos Santos medallion of honor and scroll of commendation for his “continued and undying service to both the country and the Filipino people.”

Under Mr. Zaldarriaga’s leadership, Meralco won four IABC Philippine Quill Awards, and two top awards for communication skills and research.

His team won the first and only PR Team of the Year Award at the Anvil Awards, which was conferred by the Public Relations Society of the Philippines.

Mr. Zaldarriaga led several Meralco campaigns, which garnered accolades such as the 2018 Silver Stevie for Communications Team of the Year, 2016 Gold Stevie for Community Relations Campaign, and winner trophies at the 2016 Asia Pacific’s The Gold Standard Awards, among others.

At present, Mr. Zaldarriaga also chairs the International Association of Business Communicators (IABC) Philippines and has three opinion columns in publications such as the Daily Tribune, Pilipino Mirror and Saksi Ngayon.

Meanwhile, at Meralco’s Board of Directors’ meeting on Nov. 27, Glen N. San Pedro was also appointed as vice president and head of Supply Chain Management, while Maria Luisa V. Alvendia was designated as first vice president, chief of staff and supply chain advisor.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., that has interest in BusinessWorld through the Philippine Star Group, which it controls. — Angelica Y. Yang

T-bill rates to move sideways on ample demand

YIELDS ON Treasury bills (T-bills) to be auctioned off on Monday are expected to move sideways despite the faster-than-expected inflation in November as investors still prefer to park their excess funds on these short-term and safe-haven assets.

The Bureau of the Treasury (BTr) will auction off P20 billion in T-bills on Monday: P5 billion each in 91-day and 182-day debt papers and P10 billion in 363-day securities.

Two traders said yields will likely move sideways or five basis points (bps) higher than those fetched at last week’s auction.

“Despite the uptick in inflation for the month of November, yields of T-bills may just move sideways to 5 bps higher from previous auction with investors’ inclination still leaning towards the safest option and these are the short-term government securities,” Kevin S. Palma, peso sovereign debt trader of Robinsons Bank Corp., said in a Viber message on Saturday.

A trader said the faster-than-expected inflation last month could push the yields of government securities up as investors “would want to preserve their purchasing power against rising prices.”

The government made a full award of the T-bills it offered last week as yields ended mixed due to expectations of faster inflation and a sluggish economy.

The BTr borrowed P20 billion as planned via the T-bills as the offer was almost four times oversubscribed, with bids amounting to P75.906 billion.

Broken down, the BTr borrowed the programmed P5 billion from the 91-day T-bills as tenders reached P19.321 billion. The three-month debt fetched an average rate of 1.006%, up by 2 bps from the 0.986% seen in the previous auction.

The Treasury also awarded P5 billion as planned in 182-day debt as bids amounted to P20.41 billion. The six-month papers were quoted at an average rate of 1.386%, inching up by 0.1 bp from the 1.385% logged in the previous offering.

Lastly, the government raised P10 billion as programmed via the 364-day securities as tenders totaled P36.175 billion. The average rate of the one-year securities stood at 1.693%, slipping by 0.2 bp from the 1.695% seen in the previous auction.

At the secondary market on Friday, the three-month, six-month and one-year T-bills were quoted at 1.12%, 1.43% and 1.701%, respectively, based on the PHL Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website.

Meanwhile, the Philippine Statistics Authority on Friday reported that headline inflation quickened to 3.3% in November from 2.5% in October and 1.3% in November 2019 after the recent typhoons and massive floods that hit the country pushed prices of agricultural goods.

Year to date, inflation averaged at 2.5%, still within the BSP’s 2-4% target as well as the 2.4%-2.6% estimate of the economic team. The BSP expects inflation to average at 2.4% this year.

“The inflation rate is still within the 2-4% inflation target range. However, to ensure prompt price normalization, the DA (Department of Agriculture) and DoTr (Department of Transportation) may need to facilitate movement of food supplies from imports and food-surplus regions,” the Finance department said in an economic bulletin.

The Treasury plans to borrow P120 billion from domestic lenders in December: P60 billion in weekly T-bill auctions and P60 billion in fortnightly Treasury bond offerings.

The government wants to raise around P3 trillion this year from local and foreign lenders to help fund its budget deficit, which is expected to hit 9.6% of the country’s gross domestic product. — Beatrice M. Laforga

Tourism on two wheels with ‘Motourismo’

 

Motoring tourism caravan encourages us to safely rediscover the country’s sights and sites

IT APPEARS THAT, following the slow and safe reopening of several provinces to visitors in an effort to reinvigorate their local economies, over-land travel has indeed become the mode of choice among many Filipinos. Going on road trips in private vehicles has allowed people to feel safer and more in control of the environment they’re in, and has thus opened the doors for tourists to trickle into several holiday destinations in the country.

Two weeks ago, we talked about how Nissan Philippines was championing the revitalization of land travel for tourism in the Philippines. This week, I’d like to delve into the adventurous world of motorcycle riders and how they’ve also been slowly gravitating back into domestic tourism. These riders experience traveling in a very different way — more intimate, and more immersed in the physical journey itself.

You see, if you are a motorcycle rider, your senses are more heightened during the journey proper. You smell everything you ride by, you feel warm under the sun, you get wet in the rain, and you hear everything around you. You also don’t have a moment to spare because your full attention is required to stay safe on the road. It is a completely different experience — and a very exciting one! And it is only natural that Filipino riders now long to travel as well.

Having said that, the Department of Tourism (DoT) and the Tourism Promotions Board (TPB) of the Philippines recently launched its “Motourismo” motoring tourism caravan, which aims to encourage Filipinos to safely rediscover on two wheels the country’s most beautiful sights. The Motourismo project is also a collaboration with the Department of Transportation (DoTr), RidePH, and a plethora of motorcycle rider clubs and associations in the Philippines.

“By initiating this safe, yet very thrilling and worthwhile campaign to promote motorcycle tourism through the TPB, we want to restore the confidence of the public to travel domestically and to help the tourism industry bounce back from the negative impact of the COVID-19 pandemic crisis,” shared Tourism Secretary Bernadette Romulo-Puyat during a recent online press conference.

“The tourism industry refuses to ride into the sunset!” she exclaimed, and added that they will also be tapping select motorcycle riders — appointing them as tourism ambassadors who can help promote motorcycle travel as a secure and viable mode of transportation to explore the country in search of fun and diverse experiences.

The benefits of such a tourism stimulus are vast. It can largely help locals who have lost their jobs, jump-start small businesses, and assist struggling tour operators stay afloat by giving them the opportunity to create new tour programs to be offered to visiting riders. Furthermore, this may also serve as a good platform to thoroughly disseminate information about the recommended health and safety protocols for travelers.

Secretary Bernadette Romulo-Puyat also shared that, hopefully, when all their plans come into fruition, they may soon also be able to offer subsidies to motorcycle riders who need to take a COVID-19 RT-PCR test as part of the requirements to travel to other provinces. They are working on partnering with the Philippine General Hospital in order to be able to extend subsidized swab tests to make the prospect of visiting other holiday destinations more attractive, especially during this time when everything we need to do seems to have gotten a tad more complicated.

Hopefully, these efforts to encourage and educate Filipinos on how to safely rediscover the Philippines and its delicious, regional food while on two wheels will steer us all in the right direction towards getting back on our feet, or should I say, wheels.

Iconic Nike sneakers given a 3M twist

GLOBAL BRANDS Nike and 3M recently collaborated to give iconic sneakers a different twist.

The shoe collaboration, which is now available in Southeast Asia, features best-in-class 3M innovation applied to iconic sneaker franchises like the Force, Air Max, React Vision, and Blazer to add durability and design.

It is a partnership dating back to last year’s Milan Design Week where 3M presented an art installation, entitled A Pinnacle of Reflection, which had Nike going away impressed.

“Once Nike experienced our installation, they knew 3M was a company that thinks differently,” said Robert Quintero, a UX creative director at 3M, in a statement. “They appreciated our ability to express the 3M brand emotionally through storytelling.”

It just so happened as well that Nike Sportswear was in the early stages of coming up with a shoe line with “protection” as its theme.

After the Milan Design Week, 3M officials invited members of the Nike design team to visit 3M’s global headquarters. There they introduced 3M’s brand by highlighting hand-selected technologies that are used to help protect end users. This included materials that expressed warmth, durability, visibility, breathability, and more.

The Nike team then took samples back to their headquarters in Oregon and eventually decided to feature 3M Scotchlite Reflective Material throughout the entire sneaker collection to elevate the shoes’ aesthetics. Nike also used 3M Thinsulate Insulation to add an extra layer of warmth in a portion of the sneakers.

Both 3M technologies have a long history of being utilized by top apparel brands around the world.

“We are thrilled to partner with such a respected global brand and change-maker like Nike,” said Brian Rice, 3M’s vice-president of brand and design. “The result of this collaboration highlights the value of design in bringing our world-leading 3M technologies to life in a way that improves the customer experience.”

Nike and 3M said they are hoping that the shoe collection makes a great impression in the Southeast Asian region, where sneaker culture has been on a steady rise.

To view the complete collection of sneakers, visit Nike.com. — Michael Angelo S. Murillo

Philippines lifts ban on poultry imports from Hungary

THE Department of Agriculture (DA) has lifted a temporary ban on poultry imports from Hungary.

In a memorandum order signed on Dec. 1, Agriculture Secretary William D. Dar permitted imports of domestic and wild birds and their products including poultry meat, day-old chicks, eggs, and semen from Hungary.

Mr. Dar said the Ministry of Agriculture in Hungary reported to the World Organisation for Animal Health (OIE) confirming that it is now free from the H5N8 Highly Pathogenic Avian Influenza or bird flu.

“Based on the evaluation of the Bureau of Animal Industry (BAI), the risk of contamination from importing domestic and wild birds and their products including poultry meat, day-old chicks, and semen from Hungary is negligible,” Mr. Dar said.

In January, the DA imposed the temporary ban after its Ministry of Agriculture reported to the OIE the H5N8 bird flu outbreak in Komarom-Esztergom, affecting turkeys.

Rex E. Agarrado, spokesman of the Philippine Association of Meat Processors, Inc., said the DA’s decision to lift the ban on Hungarian poultry imports will not have much of an effect.

In a mobile phone message, Mr. Agarrado said Hungary exported 159 metric tons (MT) of chicken cuts to the Philippines in 2019.

“Unfortunately, Hungary is not a strategic supplier to the meat processing industry,” Mr Agarrado said.

Meanwhile, Mr. Agarrado said the country’s meat processing industry may be on “shaky ground” as meat imports may be threatened by the ongoing H5N8 outbreaks in France, the Netherlands, and Denmark.

“Based on the latest BAI imports data year to date October 2020, the dependence of the meat processing industry on Europe, including the UK and Turkey, for mechanically deboned meat (MDM) is 63.2%,” Mr. Agarrado said.

Jesus C. Cham, president of the Meat Importers and Traders Association, said the lifting of the Hungarian poultry import ban is “welcome,” but added that it would be more helpful for meat importers for the DA to lift its ban on poultry imports from Brazil.

“Hungary is a new supplier so the trade relationships still need to be developed and established. It is preferable that DA reopen Brazil now since the supply chain is already well developed,” Mr. Cham said in a mobile phone message.

As of October, the BAI estimates that Brazilian meat imports account for 16.1% or 121,952 MT of all meat imports.

On Sept. 7, the DA allowed the entry of Brazilian MDM but maintained its ban on other poultry products despite lobbying by the meat industry for the lifting of the suspension.

The DA banned Brazilian poultry after a Chinese report found traces of the coronavirus disease 2019 (COVID-19) in a shipment of chicken wings. — Revin Mikhael D. Ochave

SEC warns public against two unauthorized investment groups

THE SECURITIES and Exchange Commission (SEC) Philippines recently warned the public against participating in investment schemes of Extremebot Corp. and Greenlift Wellness Products Trading (Greenlift) as these entities do not have a license to sell securities.

In advisories on its website, the corporate regulator flagged Extremebot and Greenlift as unauthorized operators of investment schemes.

The SEC advised the public “not to invest or stop investing in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of (Extremebot and Greenlift) and to exercise caution with any individuals or group of persons soliciting investments for and on behalf of it.”

Extremebot is currently registered as a corporation that primarily engages in the online and retail selling of beauty products, the SEC said. It is not licensed to “solicit, accept or take investments from the public or issue  investment contracts.”

The SEC said the firm is currently offering investments through a membership fee ranging from P135 to P160. Members “can earn around P0.010 to P0.08 for unlimited captcha typing or solving math problems; P40 for every direct referral; and P10 and P5 for every indirect referral on the 1st and  2nd  level, respectively.”

Meanwhile, for its part, Greenlift is not registered with the SEC as either a corporation or partnership, although the Department of Trade and Industry had granted it a certificate of business name registration months ago. Like Extremebot, it is not authorized to solicit investments from the public.

At present, Greenlift is offering investments with the promise of referral bonuses, trading profits and giveaways for investor-members.

For violating the Securities Regulation Code, the people behind Extremebot and Greenlift may be penalized with a P5-million fine, 21-year imprisonment, or both. — Angelica Y. Yang

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