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Pag-IBIG loan policies set to help borrowers keep homes amid pandemic

Top officials of Pag-IBIG Fund on Wednesday (Aug.19) assured borrowers that the agency’s loan policies are designed to help them keep their homes, especially during the pandemic.

“We heed President Duterte’s call to prioritize the welfare of our fellow Filipinos during these challenging times. We want to help members keep their homes, especially now because that is the safest place they can be. Pag-IBIG Fund extends favorable terms to our home loan borrowers. We give them several remedies to save their properties in case of default. Our remediation process also gives borrowers at least one year to update their accounts,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

According to del Rosario, home loan borrowers who may encounter financial difficulties as a result of the pandemic can avail of Pag-IBIG Fund’s loan restructuring and penalty condonation programs. The programs are meant to help borrowers update their loans and avoid foreclosure.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti added that unlike most financial institutions, Pag-IBIG Fund’s rules on penalty are more compassionate towards borrowers. The agency computes penalties based only on unpaid dues instead of the outstanding loan balance.

“Due to the economic slowdown, we expect to see default rates climb in the next few months. We want to assure our borrowers that we take into consideration their unexpected loss of income as a result of the pandemic. We at Pag-IBIG Fund remain committed to enable Filipino workers not only to buy homes, but to keep their homes. COVID-19 will not change that,” said Moti.

In the first half of the year, Pag-IBIG Fund deferred more than P15 billion in total loan payments when it granted an automatic grace period to all its 4.77 million borrowers, in accordance with the Bayanihan to Heal as One Act and its Implementing Rules and Regulations.

The agency also granted qualified borrowers a three-month loan payment moratorium from March 16 to June 15, 2020, giving them longer reprieves without incurring additional penalties and other charges.

‘BBB’ funding excluded from loan limit

THE central bank’s mandated limit on big banks’ real estate loans will not include loans and securities that will finance public infrastructure projects, in a bid to boost the government’s “Build, Build, Build” (BBB) program.

Circular No. 1093 signed by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno raised the limit on real estate loan exposure to 25% of banks’ total loan book from the current 20%, a move seen to unleash P1.2 trillion in additional liquidity for real estate lending.   

“Real estate exposures shall not include loans and investments in debt and equity securities the proceeds of which are used to finance infrastructure projects for public use…,” the circular read.

BSP Deputy Governor Chuchi G. Fonacier said in a text message the provision will “support funding for the Build, Build, Build program of the government.”

As the coronavirus crisis plunged the economy into a recession, the government is betting its aggressive infrastructure push will help drive recovery in 2021.

The BBB program currently includes 92 infrastructure projects worth P4.4 trillion.

In the circular, BSP said a real estate stress test (REST) will be done to gauge the bank’s exposure to commercial real estate loans, specifically to individual households, sole proprietorships, land developers and construction companies.

The prudential limit will also cover loans extended to corporate borrowers with real estate-related loans such as brokers, lessors, property management companies, and holding companies, among others.

“A universal/commercial bank which does not meet either or both the REST limits shall incorporate assessment of risks from this exposure in its internal capital adequacy assessment process (ICAAP),” it said.

The BSP has earlier said the new guidelines will exclude residential real estate loans to individuals for own occupancy and foreclosed real estate property.

The rule to increase loan limits for the real estate sector is a complementary move after the central bank maintained key policy rates last week, said Colegio de San Juan de Letran Graduate School Dean Emmanuel J. Lopez.

“The move is meant to stimulate investment in the real estate area which as of late experienced a big blow because of the pandemic,” Mr. Lopez said in a text message.

The real estate sector makes up about 18.5% of total loans in June, slightly bigger than the 17.4% share in the same month of 2019 and the 18.4% in May, BSP data showed.

Outstanding loans extended by big banks for the sector was at P1.72 trillion in June from P1.47 trillion a year ago, data from BSP showed. Credit for real estate activities increased 16.8% year on year during the month, slower than the 19.6% pace in May.

TIME TO PAUSE
Meanwhile, Mr. Diokno on Monday said it’s time to pause in easing in order to gauge how previous rate cuts are being digested.

“We have to appreciate that monetary policy works with a lag. Now that the economy is starting to open up, I think it’s time for us to pause and see how the economy is absorbing our loose monetary policy,” Mr. Diokno said in an interview with ANC on Monday.

On Thursday, the Monetary Board maintained the benchmark rates, citing the manageable inflation outlook and some early signs of recovery.

“[There were] early signs of recovery in manufacturing and exports. The construction business, especially public constructions, will pick with the BBB infrastructure programs,” Mr. Diokno said in a text message.

Mr. Diokno also said they are also expecting their policies will aid more small businesses through access to lending. — L.W.T.Noble

Laptop demand surges but supply can’t keep up

By Jenina P. Ibañez, Reporter

DEMAND for laptops surged during the lockdown, but a decline in global electronics manufacturing capacity caused a shortage in supply in the Philippines.

Technology company Lenovo Philippines said local demand during the lockdown reflected at least the 26% spike in its global laptop sales, a number that is based on shipment quantities. But local demand could actually have increased by more than double, Lenovo Philippines President and General Manager Michael Ngan said in an online interview.

“What we actually don’t see is kung ano ’yung hindi nag-ship. The pandemic actually affected the supply side,” he said.

ASUS Philippines, which also saw demand by June double its pre-lockdown numbers, attributed the spike to workers’ need for devices as they shifted to work-from-home operations.

Parents are also buying devices for young students as they prepare for online learning, ASUS Philippines Country Head George Su said in an online interview.

“The most significant change is that the younger grades in primary school, even the kindergarten, the parents need to consider to acquire a unit or two,” he said, adding that strong demand in their products is expected until the end of the year.

Outsourcing companies that were allowed to continue operations during the lockdown increased bulk orders of laptops for employees working from home, Mr. Ngan added.

But these electronics companies are not able to meet the increased demand, with Mr. Su saying that 30% to 40% of local demand is still underserved.

“Most of the vendors struggle to get more supply and distribute it across several markets during this situation,” he said.

Lenovo Philippines identified bottlenecks at every point of the supply chain. Mr. Ngan said there are shortages among their CPU and components providers, while their own manufacturing production is held up by restrictions declared to contain the pandemic.

“With the pandemic, everything is halved: production nangalahati (is halved) because nobody can deploy 100% workforce. In fact, not even in factories,” he said.

Mr. Ngan added the move to deploy only skeleton staff at the Customs bureau and domestic flight restrictions have slowed down importation and distribution.

The tech companies have manufacturing centers globally, including China and Mexico.

ONLINE SALES
While both companies sell online, Mr. Su said that most sales still come from brick-and-mortar stores. But e-commerce also saw a surge in laptop sales during the lockdown.

Lazada Philippines said average monthly laptop sales increased by five times during the lockdown compared with monthly sales in January and February, the e-commerce company said in an e-mail. Sales of its entire electronics category doubled in this period.

Lenovo’s Mr. Ngan noted some Filipinos also sold secondhand laptops on social media. One local laptop buy-and-sell Facebook group has almost 140,000 members.

To improve their own supply, he asked the government to include computers in its list of essential goods for Customs concessions.

“I think laptops nowadays should… kung pwede can be classified as essential goods and be given some concessions in customs, in logistics, para makadaaan, para makarating siya sa mga buyers,” Mr. Ngan said, explaining that the recovery of the economy could be backed by a workforce that successfully shifts to digital operations.

The company is adjusting its demand forecasts to improve shipments of their products to the country, he said.

Cashless toll payments will soon be mandatory

THE Department of Transportation (DoTr) will soon make it mandatory for toll road operators to implement cashless and contactless transactions at all toll plazas, in order to curb the spread of the coronavirus disease 2019 (COVID-19) in the country.

Transportation Secretary Arthur P. Tugade signed a department order on Aug. 13 directing all concerned agencies to “formulate new processes and procedures within three months to ensure the smooth implementation of the new policy.”

Under the order, the Toll Regulatory Board (TRB) was directed to come up with rules and regulations requiring concessionaires and operators of toll expressways to transition to an electronic toll collection system.

The Land Transportation Office was also ordered to submit a study on how to implement a cashless and contactless system along toll roads.

The Land Transportation Franchising and Regulatory Board was tasked to check if all public utility vehicle operators will use and install cashless systems in their vehicles.

The DoTr said the contactless payment policy will be implemented on South Luzon Expressway (SLEx), Manila-Cavite Toll Expressway, North Luzon Expressway, South Metro Manila Skyway, Southern Tagalog Arterial Road (STAR) Tollway, Subic-Clark-Tarlac Expressway, and Cavite-Laguna Expressway.

Mr. Tugade acknowledged there may be “initial inconveniences” caused by the new policy, but stressed there will be long-term benefits.

SMC Tollways announced in June it will implement cashless payments in all of its toll roads. The first phase will cover the elevated section of the Skyway, NAIAX and SLEx starting October, while the second phase will cover at-grade sections of the three tollways, STAR Tollways and  Tarlac-Pangasinan-La Union Expressway in January 2021. To boost compliance among motorists, the company is offering free installation of RFID stickers to all vehicles that use these expressways.

Metro Pacific Tollways Corp. is also offering free Easytrip RFID (radio frequency identification) stickers for motorists who use the toll roads it operates.

In its “Guidance Note on COVID-19 and Transport in Asia and the Pacific” published July 24, the Asian Development Bank (ADB) said public transport has played a central role in the spread of the virus.

The ADB said the government can also promote a “more sustainable transport mode balance” by making sure public vehicles are clean, providing quality travel alternatives and encouraging walking and cycling to enhance overall health and well-being.

It added the resilience of public transport systems can be improved by making better use of advanced technology and promoting digital inclusion. — A.L.Balinbin

Meralco offers P101-M aid to power users

By Adam J. Ang

MANILA ELECTRIC CO. (Meralco) on Monday said it would shoulder a portion of the electricity bills paid for by its poor customers as a form of aid.

The utility giant gave in to a previous request by House Speaker Alan Peter S. Cayetano who asked the company to provide some sort of relief to about 2.77 million so-called lifeline consumers, or those who consume 100 kilowatt-hours of electricity and below.

Kami po ay magbibigay ng relief o ayuda sa kanila (We will provide them a relief), equivalent to a total of P101 million, mula sa aming (from our) distribution charge,” Meralco President and Chief Executive Officer Ray C. Espinosa told the House Committee on Good Government and Public Accountability.

The committee continues to probe the alleged high Meralco electricity charges to customers during the quarantine period.

The relief will be given to consumers with such low consumption as of February when the company last conducted its meter reading before a strict lockdown was imposed against the global coronavirus pandemic in mid-March.

Sila ay makakatanggap ng diskwento sa kanilang distribution charge (There will be a cut in their distribution charge),” Mr. Espinosa said.

Among bill components, the distribution charge, which forms 17.5% of its customers’ bills, goes directly to Meralco.

Meanwhile, the country’s biggest distribution utility is extending until end-October its self-imposed moratorium on sending out disconnection notices to customers who still cannot settle their arrears since the lockdown started.

Ie-extend ko po ang suspension ng disconnection hanggang end ng October para mas mabigyan ng panahon ang ating mga customers na makalikom ng sapat na pambayad sa kanilang mga bills (I’ll extend the suspension on disconnection until end-October to give more time for customers to pay their bills),” Mr. Espinosa said, responding to lawmakers’ request.

As of late, Meralco reported that it waived about P2.7 billion in guaranteed minimum billing demand (GMBD) charges to 87,728 business customers, most of which are small and medium enterprises.

It is still waiving as much as P272 million in said cost to around 28,500 business establishments operating at half of their capacities during a strict lockdown this month.

Also, Meralco said its customers were able to save P1.9 billion from its relaxed supply contracts. It was also able to return P64 million to customers whose meters were still not read until July from the start of the strict quarantine months.

The utility is still covering the convenience fees that its third-party provider is charging customers who are coursing their bills payments through the Meralco app. As of July, it refunded P30.4 million in said fees to 647,000 app users.

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., has a stake in BusinessWorld through the Philippine Star Group, which it controls.

Megaworld targets more office spaces despite pandemic

By Denise A. Valdez, Senior Reporter

MEGAWORLD CORP. is targeting to launch 110,000 square meters (sq.m.) of leasable office space this year to strengthen its revenue streams while the coronavirus pandemic is ongoing.

In a virtual meeting with stockholders on Monday, Megaworld Chairman, President and CEO Andrew L. Tan said the company currently has 1.3 million sq.m. of leasable space in its inventory, occupied by more than 130 companies.

“By the end of 2020, we aim to have at least 1.4 million sq.m. of gross leasable space through the addition of another 110,000 sq.m. of fresh leasable office space,” he said.

“I believe that the value we continuously bring to our office space offerings will allow us to achieve this objective,” he added.

Megaworld completed around 192,300 sq.m. of leasable office space in 2019. Due to the coronavirus pandemic, it has cut its capital expenditures this year by 40% to P36 billion, and decided to stick with projects that have already been committed for completion.

“Our strategy of reinforcing office rentals even before the pandemic paved the way for our stable recurring income today, offsetting the slowdown in our mall business which was greatly affected by this health crisis,” Megaworld Chief Strategy Officer Kevin Andrew L. Tan said.

In the first half of the year, Megaworld’s profits dropped 34% to P5.9 billion, as revenues fell 25% to P23.8 billion. While its consolidated top line declined, revenues from its office leasing segment grew 10% to P5.6 billion.

Part of the company’s strategy in weathering the pandemic is continuing the development of its master-planned townships.

“As we mastered the art and science of building townships…we will now focus on expanding this concept by adding features that will further ensure that our communities will stand the test of time in any crisis,” Mr. Tan said.

While its spending plan has been reduced, Megaworld still intends to pursue expansion plans, land banking opportunities and digitalization investments.

“Megaworld is still firm in its belief that the tourism sector will remain as one of the key long-term drivers of the Philippine economy. As such, we are still keen on expanding our projects in townships such as Westside City, Boracay Newcoast, Twin Lakes and the Mactan Newtown,” Mr. Tan said.

“In the meantime, we will be monitoring the pace of recovery in the economy and consumer confidence levels. These are key factors to consider with regards to our investment plans moving forward,” he added.

Shares in Megaworld at the stock exchange shed seven centavos or 2.28% to close at P3 each on Monday.

ABS-CBN distributing more content to South America, Africa, Asia

MORE THAN a month after being denied a franchise, network giant ABS-CBN has pivoted and shifted its focus to expanding its distribution of shows to countries in South America, Africa, and Asia.

Among the shows that will be making their journey to other continents are Ang Probinsyano, Kadenang Ginto, Dahil May Isang Ikaw, and The General’s Daughter. In total, 14 shows will broadcast in the African continent while the Jericho Rosales and Kristine Hermosa starrer, Dahil May Isang Ikaw, which ran from 2009 to 2010, will be broadcast in Ecuador starting this month.

Dahil May Isang Ikaw is the third ABS-CBN show to be broadcast in Ecuador after Bridges of Love and Pangako Sa’Yo.

It can be argued that Pangako Sa’Yo, which ran from 2000 to 2002 in the Philippines, laid the groundwork for ABS-CBN’s syndicating its content outside of the Philippines as it has aired in Kenya, Malaysia, and Singapore. It was so popular that Cambodia made its own version in 2013. The Philippines remade the series in 2015 starring Daniel Padilla and Kathryn Bernardo.

To date, ABS-CBN content has reached around 50 territories around the world, amounting to about 50,000 hours of content, according to a company release.

The focus on exporting content is one of a series of shifts that has happened in the network in the last few weeks after its franchise was not renewed by Congress. Many of the network’s shows have been moved online, with Star Music launching a kids YouTube channel and the introduction of Kapamilya Online Live which will livestream ABS-CBN content on its Facebook and YouTube pages in early August.

The shutdown has also resulted in mass layoffs, with entire departments being let go. Even prominent ABS-CBN personalities and newscasters like Korina Sanchez-Roxas and Ces Orena-Drilon, among many others, had to be dropped by the network.

ABS-CBN also posted its first-ever loss as a publicly listed company, amounting to P3.9 billion during the first half of the year, attributed to the ongoing pandemic shrinking advertising budgets and the closure of the network, according to a company disclosure on the Philippine Stock Exchange last week. This was a steep decline from its reported P1.47-billion net income last year.

ABS-CBN has been publicly listed since 1992. — Zsarlene B. Chua

Gov’t fully awards Treasury bills despite slight increase in rates

THE GOVERNMENT fully awarded the Treasury bills (T-bills) it auctioned off on Monday even as rates inched up after the central bank’s decision to halt monetary easing and amid hopes of a “flattening” in the country’s coronavirus curve.

The Bureau of the Treasury (BTr) borrowed P20 billion via T-bills as planned out of P50.277 billion in bids, or more than twice the offered amount.

Broken down, the BTr made a full P5-billion award of the 91-day debt papers offered from P12.178 billion in tenders. The three-month papers fetched an average rate of 1.131%, up 1.3 basis points (bps) from the 1.118% logged in the previous auction last week.

It also raised P5 billion as planned via the 182-day T-bills out of total bids worth P11.661 billion. The average yield of the six-month papers inched up 1.9 bps to 1.407% from 1.388% previously.

For the 364-day securities, the Treasury raised the programmed P10 billion out of P26.438 billion in bids. The one-year instruments yielded an average rate of 1.751%, up by 0.6 bp from the previous rate of 1.745%.

National Treasurer Rosalia V. de Leon said after the auction that the results were as expected after the central bank kept its policy rates unchanged last week.

The policy-setting Monetary Board of the Bangko Sentral ng Pilipinas (BSP) on Thursday kept benchmark interest rates steady amid a benign inflation outlook and signs of economic recovery. Rates on the BSP’s overnight reverse repurchase, lending and deposit facilities are currently at record lows of 2.25%, 2.75% and 1.75%, respectively.

Ms. De Leon said they expect the rates of the government securities to move “sideways or tad higher” moving forward.

With the recent upticks in rates, a bond trader said it is “hard to think that rates will stay this low,” particularly for the shorter tenors as the market sees faster inflation next year and with hopes of a rebound after the University of the Philippines (UP) said it forecasts a possible “flattening” of the coronavirus infection curve by September.

“Hard to reconcile with higher inflation expectations for next year and recent comments from UP that the curve may flatten by next month,” the trader said via Viber.

The central bank aims to keep inflation within 2-4% this year and in 2021. The BSP last week raised its inflation forecast for this year to 2.6% from the 2.3% given in the June policy review. The 2021 and 2022 forecasts were likewise hiked to 3% (from 2.6%) and 3.1% (from 3%), respectively.

Guido David, a research fellow at the UP-OCTA, said in a radio interview on Monday there is still a chance that the curve will be flattened by the end of the month or next month as the reproduction rate of the disease — or the number of individuals that a virus carrier can infect — slows.

He said the rate slowed after a stricter lockdown was reimposed in Metro Manila and its nearby areas. However, he stressed the need to sustain containment efforts to avoid a resurgence of cases.

On Tuesday, the BTr will offer P30 billion in reissued 20-year Treasury bonds (T-bonds) that have a remaining life of 12 years and seven months and a coupon rate of 3.635%.

The government has set a P170-billion borrowing program for August. It will auction off P110 billion in T-bills weekly and P60 billion in Treasury bonds fortnightly.

It plans to borrow around P3 trillion this year from local and foreign lenders to plug its budget deficit seen to hit 9.6% of gross domestic product. — Beatrice M. Laforga

Revenues of electronics components firm fall as lockdown restrains demand

By Jenina P. Ibañez, Reporter

ELECTRONICS components company RS Components Corp. saw its revenues halved during the lockdown, an effect of lower demand from manufacturing companies cutting production as they lose customers.

“It’s a snowball effect,” RS Components Philippines General Manager George R. Santiago said in an interview on Wednesday.

The company’s clients consist mostly of multinational and local manufacturers, where it provides industrial maintenance, operations, and repair products as well as electronics.

These manufacturers, Mr. Santiago said, have been struggling with decreased product demand that lowered their production rate.

They also limited their on-site work force and saw slower movement of goods due to checkpoints and restrictions.

“Shipment of finished products were hampered and also shipment movement of raw materials were also affected,” Mr. Santiago said.

But RS Components returned to 85% of its pre-lockdown performance in July after restrictions were eased.

The company expects 2021 revenues to grow from its 2019 performance. Mr. Santiago said the company had been growing in double digits in the five years to 2019.

The growth, he said, will be largely caused by manufacturing companies resuming their delayed projects.

“Some of our customers, because of the pandemic, (have) put off their projects — expansions, additional production lines — because they are now focusing on buying only the essentials. But come next year, we expect demand to also start to pick up so they would continue with their planned expansion.”

RS Components also anticipates higher demand in automation and digital solutions products in the coming years.

Mr. Santiago said that the company has been responding to more inquiries on automation tools that could help companies check customer temperatures and count the number of people in a space without human intervention.

He said that automation was previously not prioritized by companies because labor in the Philippines is cheaper than the cost of the technologies.

“Because of this pandemic, companies now have realized that even the manpower caused a disruption in the operations, and there’s more demand now for automating whatever process they could automate.”

The company has also been seeing more inquiries for its digital solutions automating the procurement process.

Salawikain are the focus of short film tilt

TO CLOSE both the celebrations of the One Hundred Years of Philippine Cinema and National Language Month, the Film Development Council of the Philippines (FDCP) is holding a short film competition focusing on Philippine sayings (salawikain).

Called the SineWikain Challenge, the competition asks participants to select a saying from a list posted on the competition website (http://www.fdcp.ph/sinewikainchallenge) and turn it into a short film of two-minutes or less using a smartphone, which should then be posted on social networking sites Facebook, Twitter, or TikTok. The posted films should tag the FDCP and follow a caption format for the entry to be considered.

“Spotlighting the interpretation of salawikain into vertical short films, #SineWikainChallenge is a social media challenge meant to remind Filipinos about childhood teachings while also providing positive content and values that could uplift us amid the pandemic,” the council said in a press release.

The competition was said to be the idea of veteran actor Leo Martinez and was “partly inspired by the Good Moral and Right Conduct (GMRC) Law, which institutionalized GMRC and Character Development as part of the K-12 curriculum,” said the release.

The contest has two categories: an adult category for those aged 18 and over and a youth category for those aged 17 and below. Group participation is also allowed though a group may only be composed of a maximum of three people per submission and each individual or group is limited to one entry for the challenge.

The sayings on the FDCP list include musings about learned behaviors (Ang gawa sa pagkabata, dala hanggang pagtanda — what is done in one’s childhood lasts into adulthood), family values (Aanhin mo ang palasyo kung ang nakatira ay kuwago — what for is a palace if a owl lives there), love (Ang pagsasabi ng tapat ay pagsasamang maluwag — speaking the truth is equal to a good relationship), friendship (Ang tunay na kaibigan makikilala sa kagipitan — a true friend is known in hard times), and individual values (Madali maging tao, mahirap magpakatao — it is easy to be a human, it is hard to be humane).

The two first place winners in the short film competition’s two categories will receive P15,000 each, those in second place will receive P10,000 each, while those in third place will get P5,000 each. Twenty others in each category will also win P2,000.

The deadline for the submission of entries is on Sept. 20 and the announcement of winners will be on Sept. 23 on FDCP’s Facebook and Twitter pages and the Pista ng Pelikulang Pilipino and Sine Sandaan pages.

FILM ARCHIVE
Aside from the short film competition, the FDCP also announced that it has successfully processed for archiving select films from the University of the Philippines Film Institute film archive.

A total of 1,024 film reels were handed over to the FDCP in 2019, among them an original print of National Artist for Cinema Gerardo de Leon’s Noli Me Tangere (1961 and Bayan Ko: Kapit sa Patalim (1984) by National Artist for Film and Broadcast Arts Lino Brocka.

The FDCP reported that it has completed “rewinding, transfer, and inventory” of the films and categorized them as Class A (minimal damage) and Class B (medium to heavy damage). The films are currently being stored in the interim film archive in the FDCP offices in Manila.

The two films by Mr. De Leon and Mr. Brocka were tagged as priority for restoration because of their “significant historical and cultural values.” Restoration will include digitizing the films and generating access copies for the public.

The FDCP has so far restored nine films in its collection and is currently restoring two more. Taking care of the films for archiving and restoration is the responsibility of the Philippine Film Archive (PFA), a department under FDCP.

“There is excitement during acquisition; feeling of loss before we leave, seeing some films that were destroyed in time; thrill during inspection; and tension during the handling of some delicate and damaged films,” PFA head Don Gerwin Arwan said in a statement.

“Then, there is pleasure after initial cleaning and transfer to a new container, and fulfillment when we complete the inventory and put them on racks or inside the film vaults. And before the day ends, we feel very honored to be able to do this for our country and for the present and future generations,” he added.  Zsarlene B. Chua

Potential house buyers on the rise during lockdown period — Lamudi

MORE property hunters are showing interest in buying houses during the time Luzon was under a strict lockdown, online property marketplace Lamudi found.

In a report on Monday, Lamudi said the traffic on its website for properties for sale rose to 68%-74% when the enhanced community quarantine (ECQ) was in place, making up 56% of the inquiries on its platform.

The island of Luzon was under ECQ starting mid-March to end-May to contain the spread of the coronavirus disease 2019 (COVID-19). Several parts of the country remain on a relaxed lockdown to date.

The rise in traffic on Lamudi’s platform reflects a change in behavior from property hunters, who used to view properties for sale but end up placing inquiries on properties for rent.

“Lamudi’s initial trend report (in May)… showed a renewed interest in house and lot properties after the ECQ has been implemented. This trend seems to continue on a climb to reach pre-COVID percentages on the platform during the start of the year,” it said.

Leads on house properties posted an average week-on-week growth of 3% during the first half of 2020. Leads on foreclosed properties saw the highest week-on-week growth at 4%, which Lamudi attributed to their affordability.

On the other hand, condominiums and apartments posted a 3% and 1% decline on leads during the six months, respectively. This may be due to seekers choosing to hold on to cash while the pandemic situation remains uncertain, Lamudi said.

It also noted that areas with central business districts remain the top pick of property hunters, as Quezon City, Makati City, Pasig City and Taguig City lead both the most viewed and most inquired cities on the platform.

“Since public transportation has been suspended from March to May and is on limited operations, property seekers may have looked for residential properties closer to their workplaces, especially those who have been deemed as essential workers and are at higher risk to the virus,” it said.

“This move can also keep their loved ones safe from the virus, especially if there are family members that are more susceptible to COVID-19,” it added.

Seekers are also paying more attention to amenities as most are working from home during the lockdown period. Lamudi said the most searched amenities during the first half were swimming pool, air-conditioning, Wi-Fi and balcony.

“Connectivity and quality of life are the two most important considerations for property seekers,” it said.

But as the Philippine government continues to adjust quarantine restrictions every two weeks, Lamudi said data might again change in the second half to reflect new trends in real estate. — Denise A. Valdez

Game makers battle to boost accessibility for players with disabilities

AS A KID growing up in Cedar Rapids, Iowa, Randy Fitzgerald couldn’t make friends by playing sports. He was born with arthrogryposis, a muscle and joint disorder that made activities like soccer or baseball out of the question. Over time, he discovered another powerful way to bond with his peers — video games.

These days, Fitzgerald, 41, is a renowned gamer, known in the pro community as N0M4D. Since his arms and legs have limited mobility, he plays by using his upper lip and chin. When he’s not competing, he also consults with video-game companies on ways to improve their products for players with special needs.

Recently, such efforts have been gaining momentum across the gaming world. “A lot more people are able to be in the public eye and show what they can do with our disabilities,” he said.

The rise in prominence of gamers like Fitzgerald reflects a broader movement in the industry, advocates say, to make video games more accessible for people with visual, hearing, or motor impairments. In the ultra-competitive $150-billion market, improved accessibility for disabled players has become one more way that game makers can stand out. Such considerations, for example, have already opened up a new front in the fierce battle between Sony Corp. and Microsoft Corp. for supremacy in the next generation of video-game consoles.

Craig Kaufman, director of community and outreach for AbleGamers Charity, which provides resources for gamers with disabilities, said the evolution is being driven, in part, by social media. Forums such as Twitter and Discord, an audio platform used by gamers, have led to more discussions about accessibility and a greater awareness of the issue among hardware and software makers.

The major turning point, he said, happened in 2018 when Microsoft’s Xbox began selling its first adaptive controller — a long rectangular device with two large domed buttons on its face that can be specially customized by users. Microsoft promoted the product with a Super Bowl ad featuring a new slogan: “When everybody plays, we all win.”

“That got a lot of the industry talking,” Kaufman said.

Other companies have since followed suit.

In June, Sony and developer Naughty Dog came out with The Last of Us: Part II, a highly anticipated adventure game for the PlayStation 4 set in a post-apocalyptic version of the US that has been ravaged by a global pandemic. The game offered extensive features for players with disabilities, including those with low vision and color blindness.

Victor Branco, a Portuguese writer for Game Accessibility Nexus who has degenerative myopia, said The Last of Us: Part II has great text-to-speech capabilities, sound cues and controller features, such as vibrating when an enemy is near.

“Not having that feeling that at any moment I will have to call someone to overcome a barrier that prevents me from completing a part of the game,” he wrote. “Not feeling tired in the eyes because I have to force them, I end up saving a lot of energy that I can use for what the game really intends me to do, enjoy the gameplay and story.”

Tara Voelker, accessibility program manager and disability community lead at Xbox, said that such considerations need to be incorporated into the early stages of game development to be successful. “If you just thought about it from day one, it would have been super easy,” she said. “But if you forget about it, and you wait until you’re further down the product line, retrofitting it can be stupid hard.”

Karen Stevens, the accessibility lead for Electronic Arts, Inc., said that it can be difficult to anticipate every obstacle ahead of time in every game. For major franchises like Madden NFL football or FIFA soccer, she said, feedback from consumers is invaluable. If one version lacks a certain accessibility feature and it gets pointed out by gamers with disabilities, it can be included in the next product.

“Obviously, we’re a very large company — we make a lot of games,” she said. “So it’s very difficult to catch everything. But we know every little bit we try is a little bit better than it would be otherwise. It’s a journey. It’s not a one-step thing.”

Voelker said that the industry can become more inclusive by hiring more game developers (aka “devs”) with disabilities. “I talk a lot about the reason games are inaccessible is because we don’t have a lot of developers who have disabilities,” she said. “It’s kind of a Catch-22: You don’t have a lot of game devs with disabilities because a lot of games are inaccessible. So why would someone choose to go into game dev if they can’t play games?”

Fitzgerald, who has seen a lot of progress since he was a kid, said that he expects more barriers to fall in the years ahead.

“Newer developers are coming in with new ideas,” he said. “You know it’s these fresh minds in the industry, envisioning a better future in favor of everybody.” — Bloomberg