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PHL schools need new curriculum to boost talent competitiveness

By Jenina P. Ibanez, Reporter

THE Philippines should improve the education curriculum to boost competitiveness of its future workers, business leaders said.

The Philippines inched up one spot to 48th out of 63 economies in the IMD World Competitiveness Center’s World Talent Ranking 2020, which the institution attributed to poorer performance by other economies.

The country continued to lag behind other Asia-Pacific economies after poor showing in criteria like educational assessment and public expenditure in education. It ranked 12th out of 14 economies in the Asia Pacific, with Singapore, Australia, and Hong Kong taking the top spots.

“There should really be a public-private partnership relative to developing a business-centric or a technology-centric curriculum for the next generation of students so that when they graduate, they can hit the ground running and be aware of the requirements of the job market,” Willis Towers Watson Head of the Philippines James G. Matti said in a recent phone interview.

Mr. Matti said that educational institutions must develop programs that will enhance English-language learning and critical thinking, including programs in science and technology.

Filipino students had some of the lowest mean scores in reading comprehension, science, and math in the Program for International Student Assessment (PISA) ranking released last year. Included by IMD in its measurements, the PISA score placed the Philippines in 58th place in educational assessment.

“When it comes to critical thinking, there’s a huge skills gap there,” Mr. Matti said, explaining that those skills will be needed after pandemic accelerated digitalization and artificial thinking. “It’s very important for companies to invest in upskilling.”

He said the government and the private sector should develop a new curriculum that would help the talent pool keep up with the future requirements of business.

“(The curriculum) should be contemporized so that it will really meet the current needs and demands — so we can have at least a window that whoever graduates five to 10 years from now are still very competitive in the job market.”

HIGHER COMPENSATION
The IMD report also measures the country’s appeal in attracting overseas talent. Under this factor, the country ranked 8th in effective personal income tax rate and 15th in cost of living. But the Philippines ranked 48th in quality of life and 50th in the justice factor.

The Philippines also took the 35th spot in remuneration for management, and 43rd for remuneration in services professions.

“You can always attract highly skilled workers from abroad if you pay more competitively and I think in fairness to the Philippines, pay has vastly improved compared to the last decade. But of course, we can’t compare ourselves to Singapore and Hong Kong in terms of top pay but I think we’re getting to be a bit more competitive,” Mr. Matti added.

He said the current environment should become more business-friendly by improving communications and electricity infrastructure.

Employers Confederation of the Philippines (ECoP) President Sergio R. Ortiz-Luis, Jr. in a phone interview said that good compensation compared with regional competitors will give the country an edge.

“At the end of the day, it will be the income that the companies here can offer,” he said.

Mr. Ortiz-Luis added the lifestyle and comfort in living in the Philippines would also help in attracting talent.

“Thailand is still more attractive because of the low cost of living and higher earnings. They have a better perception of peace and order in the media,” he said.

IMD said that investments in education at every level will be needed to improve the entire education sector in the country.

“In order to attract more highly skilled workers from abroad, improvements in attractive job opportunities, safety and the justice system would be needed,” the institution said.

AllHome sees improved sales as it adds stores

VILLAR-LED AllHome Corp. is looking at improved sales in the fourth quarter as it continues its store expansion in the Luzon region.

The home improvement retailer said in a statement over the weekend that it recently opened a new store in Cabanatuan City to mark the 48th store in its portfolio.

It is also planning to open one more store in Bulacan before the year ends, which will leave it with a total of 49 stores heading into 2021.

“We resumed opening of new stores as soon as we have seen the positive results of the previous months. This is a testament to how fast we can mobilize our store expansion programs, which we attribute to our synergies with the Villar group of companies,” AllHome President Benjamarie Therese N. Serrano said.

AllHome Cabanatuan is seen to target not only customers from the city, but also from Pampanga, Bulacan, Tarlac and Aurora. Other Villar-owned stores are also in the area, such as AllDay Supermarket, Coffee Project coffee shop, and Bake My Day bakery.

“The AllValue retail eco system has proved to be valuable in the expansion of AllHome. The presence of AllDay Supermarket, Coffee Project, and Bake My Day helped to capture the local market,” AllHome Chairman Manuel B. Villar, Jr. said in the statement.

“The third quarter showed promising results. Based on historical sales, we are looking forward to a better fourth quarter with the holiday rush coming in,” he added.

In the July to September period, the company booked an attributable net income of P312 million, flat from a year ago but 6,140% higher than the previous quarter’s P5 million.

As lockdown rules were eased, AllHome recorded sales of P3.47 billion in the third quarter, up by 11% from last year.

But for the nine-month period, its attributable net income fell 21% to P588 million due to dampened sales when its stores were closed during the strict lockdown in the first half.

“Being a home essential provider, AllHome will continue to provide service to those who are fixing their own homes or contractors who have resumed construction activities,” AllHome Vice-Chairman Camille A. Villar said in the statement.

Shares in AllHome at the stock exchange closed at P8.52 each on Friday, up 43 centavos or 5.32% from the previous session. — Denise A. Valdez

Naval Group hopes to help modernize PHL capabilities

FRANCE-BASED shipbuilder Naval Group is looking to open an office in Manila as part of its plan to help the country in improving its naval capabilities.

Naval Group, an industrial contractor, designer and overall integrator of whole warships and combat systems, said in an emailed statement that it is hoping to bring to the Philippines its technical expertise in “ships and submarines with combat systems and all critical equipment and services necessary to engage naval power in a theatre of operations.”

Alain Guillou, Naval Group’s senior executive vice president, said: “We are the only provider with previous experience in helping a country develop a submarine force from scratch, and we stand ready to assist the Philippine Navy by providing the submarines.”

He said the Naval Group also aims to provide training and set up the facilities required to operate a fully operational submarine fleet.

Naval Group noted it has a history of more than 400 years in the defense industry, with more than 50 partners globally.

Anne Clausard, country head of Naval Group, said the creation of the submarine force serves as an opportunity for the company to partner with the local shipbuilding industry “where there will be transferring of knowledge and technology.”

She said the company expects the program to produce “hundreds of jobs.”

State-controlled media Philippine News Agency reported in December last year that Defense Secretary Delfin N. Lorenzana had visited France to check the Naval Group’s Scorpene diesel-electric submarine, which he said was “appropriate” for the Philippines’ needs.

In 2018, Mr. Lorenzana said Moscow had offered the Philippine Navy two kilo-class diesel electric submarines with an option of a soft loan if the Philippine government was short on funds. — Arjay L. Balinbin

After 10 years, Jil Sander collaborates again with Uniqlo

JIL SANDER is back for a Uniqlo collaboration after almost 10 years after her last one. The German fashion designer best known for her stark lines and Euro-flavored minimalism, started collaborating with the Japanese clothing firm in 2009 after she opened a fashion consultancy. Uniqlo’s parent, Fast Retailing, signed on as its first client, coming up with a line called +J. The revived collaboration is now available in the Philippines.

A press release clarifies that “+J is a collaboration between Uniqlo and designer Jil Sander personally and it is not affiliated with the Jil Sander brand or design house.” This is due to its founder departing after the company itself changed hands many times, after it went public in the 1990s (the Prada Group had been one of its many owners).

The +J collection was introduced earlier this month via a styling session and video launch. None other than former Vogue creative director Grace Coddington appeared in the pre-recorded video. “It goes backwards and forwards, I think; my thoughts about fashion since COVID. I sincerely hope people won’t just continue to walk around in track pants forever, because that would be very boring. I think what Jil excels at is she keeps coming back at us. That is something I really admire,” she said. Meanwhile, Carla Sozzani, the founder of the chic dining and shopping complex 10 Corso Como, said in Italian, “An individual’s characteristics are more important than femininity, and fashion shouldn’t conceal one’s characteristics. It should enhance them without destroying it. Jil is the first person to achieve this.”

Zooming into the collection reveals excellently woven fabrics with a severity of form akin to military uniforms. The men’s button-downs have nipped collars reluctant to flare, while some don’t even have collars — a bit like mandarin collars without the fuss. The similarly severe coats have an almost monastic strictness to them, displaying high collars, cowl-like hoods and such. This severity is toned down by the looseness in fit, manifesting in folds that seem to cocoon the wearer. The women’s lines are a bit softer: the stark lines are toned down with details like pussy bows.

Stylist Pam Quiñones, who facilitated the styling session, described the sort of person who would crave the +J look: “I think more than anything, it’s people who want a very uncluttered lifestyle. They want pieces that almost have an idea of an attractive stylish uniform, so that it makes their lives easier.”

Jil Sander said in a release, “I set out to define the global modern uniform with this in mind: Clothes should be long-lasting and enduring. They should serve the wearer and give her or him the energy and self-assurance which is so much needed in our global reality.” — J.L. Garcia

T-bill, bond rates may inch up

THE RATES of Treasury bills and bonds on offer this week may end flat or inch higher amid improved economic prospects.

The Bureau of the Treasury (BTr) will borrow P20 billion via Treasury bills (T-bills) on Tuesday: P5 billion each in 91-day and 182-day papers and P10 billion in 364-day securities.

On Wednesday, the government will auction off P30 billion in reissued three-year Treasury bonds (T-bonds), which have a remaining life of two years and nine months.

A trader said the rates of T-bills may remain unchanged as investors weigh potential risks to inflation even as they remain liquid and prefer short-term debt.

“Oversubscription to shorter tenors and their lower yields have shown strong liquidity among investors. However, a possible uptick in inflation may slightly increase T-bill rates,” the trader said in an e-mail.

The trader said a pickup in economic activity as more businesses reopen could stoke inflation.

Another trader said T-bond yields could increase as investors anticipate improved business activity and progress on vaccine candidates against the coronavirus disease 2019 (COVID-19).

“Investors will seek higher returns as they expect the economy to further recover with increased business activity and developments in COVID-19 vaccines and amid competition with other investment options,” the second trader said in an e-mail.

The government made a full award of T-bills it offered last week as yields declined across the board on the back of ample liquidity among investors and the central bank’s surprise rate cut.

The BTr borrowed P20 billion as planned via the T-bills as the offer was almost four times oversubscribed, with bids amounting to P73.42 billion.

Broken down, the BTr borrowed the programmed P5 billion through the 91-day T-bills as tenders reached P18.85 billion. The three-month debt’s average rate fell below one percent and fetched 0.986%, down by 3.3 basis points (bps) from the 1.019% seen in the previous auction.

The Treasury also awarded another P5 billion as planned in 182-day debt as bids amounted to P20.8 billion. The six-month papers were quoted at an average rate of 1.385%, declining by 5.8 bps from the 1.443% logged in the previous week’s offering.

Lastly, the government made a full P10-billion award of the 364-day securities as tenders totaled P33.77 billion. The average rate of the one-year securities was at 1.695%, lower by 5 bps from the 1.745% seen during the previous auction.

The BTr also opened its tap facility to raise another P5 billion in one-year papers to take advantage of the strong demand and lower rates.

Meanwhile, the government made a full P30-billion award of the reissued three-year bonds when they were last offered on Nov. 4. The papers, which have a coupon of 2.375%, fetched an average rate of 2.224%, higher than the 2.182% logged in the previous auction.

At the secondary market on Friday, the three-month, six-month and one-year T-bills were quoted at 1.131%, 1.428% and 1.704%, respectively, based on the PHL Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website. Meanwhile, the three-year T-bonds fetched a yield of 2.19%.

Inflation likely settled between 2.4% and 3.2% in November on higher oil prices and crop damage caused by typhoons, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno on Friday.

Inflation quickened to 2.5% in October from 2.3% in September, the fastest pace in three months.

The uptick was mainly due to faster increases in prices of food and nonalcoholic beverages, as well as in education, restaurant and miscellaneous goods and services.

Inflation has averaged at 2.5% to date, within the BSP’s 2-4% target.

The Philippine Statistics Authority will report November inflation data on Dec. 4.

In its latest meeting, the BSP upgraded its inflation forecast for this year to 2.4% from the 2.3% it gave in the October review.

The inflation outlook for 2021 and 2022 were, meanwhile, lowered to 2.7% (from 2.8%) and 2.9% (from 3%), respectively, due to the slower-than-expected pickup in domestic activity, the decline in global crude oil prices, and the strengthening of the peso.

Philippine gross domestic product contracted by 11.5% in the third quarter, better than the record 16.9% decline posted in the previous quarter.

Year to date, the economy shrank by 10%.

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

It is also offering another tranche of Premyo bonds to raise at least P3 billion. The offer period is set to run from Nov. 11 to Dec. 18.

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.

Uniqlo opens branches in Pasay, Parañaque, Zamboanga and Butuan

UNIQLO has opened a roadside store in Pasay City, and has plans to open in-mall stores in Parañaque, Zamboanga, and Butuan early next year.

Uniqlo has found that roadside stores are successful in Japan, Korea, Taiwan, and in the Philippines. A roadside store promises a simple, local, one-stop shopping experience for customers to enjoy a quick and convenient trip close to their home. The Uniqlo Blue Bay Walk Roadside store in Pasay City,  which officially opened on Nov. 27,  is one of them.

The store includes a parking lot for customers and is carefully designed to ensure that there is space and accessibility for all: for families with children, for elderly people, and for people with disabilities. Free parking is available for the first three hours for customers who spend a minimum single-receipt purchase of P500.

Uniqlo is also set to open more stores in Paranaque, Zamboanga and Butuan.

It will be opening a branch at SM City Sucat brand at the Ground Level of Building B on Dec. 18. Residents from nearby areas will be able to shop a wide variety of items in 1,014 sqm of shopping space.

Following this, Uniqlo will also open two new retail stores in Mindanao in the first quarter (Spring/Summer) of 2021.

It will open its first store in Zamboanga City at SM MindPro. The store will be located at the ground floor near the main entrance of the mall. Accessible from the main road, this new store will offer a 766 sqm of shopping space. It will also open a store in Uniqlo SM City Mall Butuan. The store will occupy 859 sqm of shopping space and will be strategically located on the ground floor of the mall.

All three new stores will showcase the latest and complete line-up of Uniqlo LifeWear, carrying all items for women, men, kids and babies, including Uniqlo shirts, pants, jeans, denims, dresses, the AIRism collection, and UV Protection pieces.

For updates, visit Uniqlo Philippines’ website at www.uniqlo.com/ph and follow its social media accounts.

Firms going digital amid pandemic

THE MARKET has seen an increase in smaller businesses amid the coronavirus pandemic, with most firms tapping digital platforms to reach their customers.

Lazada Philippines said some of its merchants have seen a sizeable increase in sales as they used the platform amid the coronavirus pandemic.

“During COVID, we have 2.5 times more in daily sales than we had back in February… A fresh seller [logged] 2.3 times increase in sales since onboarding in May. Another seller… who on-boarded in 2017… (has seen) sales that were three times higher,” Lazada Philippines’ chief executive officer Ray Alimurung said during BusinessWorld’s Virtual Economic Forum on Wednesday, citing in-house data.

Mr. Alimurung said the e-commerce platform started offering fresh goods, such as meat, fruit, vegetables, and fish to respond to consumer needs during the height of a government-mandated lockdown.

Lazada also recently enhanced its livestream platforms, with new programs such as a “Price Is Right” — inspired guessing contest and a singing competition, he said.

“We noticed that customers want to engage online and so we allowed brands to actively engage customers real-time,” he said, adding one brand got about 10,000 views per livestream.

The company also enabled digital donations through its For Good program, which has raised over P39 million to help local communities, Mr. Alimurung said.

The restrictions due to the pandemic led to the rise of independent sellers who primarily operate on social media, Ninja Van Philippines country manager Martin Cu said during the same forum.

“We’ve seen a real emergence of micro-SMEs (small- and-medium sized enterprises), small shippers, independent shippers who sell mainly on social (media) or are doing this as a hobby. I think all this time at home and the shutdown of retail businesses had forced people to find a new outlet,” Mr. Cu said.

To streamline the movement of essential goods during the start of the lockdown, Ninja Van Philippines opened same day delivery services for their business partners, Mr. Cu said.

Digitalization is one of the “mega-trends” driving growth among businesses, said Holcim Philippines Senior Vice-President for Marketing and Innovation Ramakrishna Maganti, as the pandemic has pushed firms to go online.

Mr. Maganti said some of the digital solutions Holcim is currently using include the remote tracking of equipment health, statistical demand forecasting, and using an online customer portal to connect with clients. — A.Y. Yang

BoE’s Haldane sees inflation risks as countries bounce back

LONDON — Bank of England (BoE) Chief Economist Andy Haldane said inflation could rise by more than expected as progress on coronavirus disease 2019 (COVID-19) vaccines and huge amounts of stimulus raised the chances of a swift economic bounce-back.

“As the economic recovery gathers pace next year, it will be important central banks remain squarely focussed on their core medium-term price stability mandates,” Mr. Haldane said in a speech to a University College London webinar on Saturday.

Mr. Haldane has consistently sounded more upbeat than his fellow interest-rate setters about the prospects for an economic recovery in Britain after the record 25% slump triggered by the first coronavirus lockdown in the spring.

Mr. Haldane said recent news of progress with the development of COVID-19 vaccines “offers some economic light at the end of the long, dark tunnel of this year” and there could be a rapid economic recovery in Britain and globally.

“Taken together with the huge amounts of policy stimulus provided this year, this will in my view leave risks to the economic outlook more evenly balanced than for some time, including risks to inflation over the medium term,” he said.

Britain’s most recent consumer price index showed inflation at 0.7%. — Reuters

Under Armour Sportsmask now available

EVEN athletes have to wear masks these days, so Under Armour (UA) has come out with the Under Armour Sportsmask, which is now available in the country in select Under Armour brand houses in the metro.

Boasting of Under Armour’s latest innovation, the sports mask is a reusable, water-resistant, and first-of-its-kind performance face mask designed to optimize breathing and provide maximum comfort.

It has athletes and active people in mind, those who want to continue with their dynamic lifestyle despite the limitations of the current situation with the coronavirus pandemic.

UA touts the sports mask as reducing the spread of respiratory droplets by the wearer.

The top of the mask features a moldable nose-bridge to secure it in place and mitigate airflow to the eyes, preventing glasses from fogging.

It features a unique, three-layer model engineered for athletes during performance. Layer 1 is the spacer fabric which is light but has air pockets for structure, so it stays off the mouth and nose for better airflow; layer 2 is the open-cell foam which is the breathable middle layer that lets air through but makes it hard for moisture and sweat to pass; and layer 3 is the UA ISO-CHILL — a fabric that feels cool against the skin, stretches, and is treated with PROTX2TM, a non-metal anti-microbial technology which inhibits growth of bacteria on the mask to keep it fresh.

The UA Sportsmask is available for P1,395 at select Under Armour brand houses, namely, Bonifacio High Street, SM Mall of Asia, Trinoma, Megamall and Greenbelt 3. Soon it will also be made available at Under Armour Ayala Cebu.

For more information on the sports mask, follow @AthletesProPH, the official distributor of Under Armour in the Philippines, on Instagram and Facebook. — Michael Angelo S. Murillo

CTA cancels MCI’s P179-M tax assessment

THE COURT OF Tax Appeals has granted the petition of Marketing Convergence, Inc. (MCI) to cancel its tax assessment of P179.7 million for 2009.

In a 23-page ruling dated Nov. 16, the tax court’s second division said the assessment against MCI is void as its accounts were examined by officers who lacked authority to do so.

“The invalidity of the deficiency assessments is due to the absence of authority on the part of the revenue officers who conducted the examination of petitioner’s books of accounts and other accounting records,” the court said.

The court noted that under the Tax Code, only the Commissioner of Internal Revenue or his duly authorized representative may authorize the examination of a taxpayer. Under the law, a revenue regional director should issue letters of authority (LoA) for examination of taxpayers within his or her jurisdiction.

Meanwhile, under Revenue Memorandum Order No. 43-90, the Bureau of Internal Revenue said regional directors, deputy commissioners and the commissioner are allowed to issue LoAs. Other officials can do so after authorization by the commissioner himself.

The memo also said any reassignment or transfer of cases to other revenue officers shall require a new LoA.

The court said an LoA was issued in May 2010, but the revenue officers named there were different from those who actually examined the books of accounts and other records of Marketing Convergence.

The revenue officers who audited the company were on the basis of a memorandum of assignment issued by an OIC-chief of the Regular Large Taxpayers Audit Division who does not have the power to authorize examination or modify a previously issued LoA, the court said.

The court also cited jurisprudence where the court held that without any authority given to revenue officers who audited a taxpayer’s accounts, the deficiency tax assessment is nullified.

“In view of the invalidity of the subject deficiency assessments, there is no need to discuss the other issues raised by the parties,” it said. 

The company was assessed for deficiency income tax, value-added tax (VAT), withholding tax on compensation (WTC), and expanded withholding tax (EWT).

Marketing Convergence claimed the assessment is void for the lack of authority of the revenue officers who audited the company as well as the formal letter of demand/final assessment notice does not contain a demand to pay within a specific period and lack of factual and legal basis. It also said that assuming the assessment is valid, the 20% deficiency interest imposed on VAT, WTC, and EWT should be cancelled.

The Bureau of Internal Revenue, on the other hand, claimed the revenue officers were duly authorized and the right to assess was not prescribed. It also claimed that the assessment had factual and legal basis. — Vann Marlo M. Villegas

Lexus IS sportier

The compact executive sedan gets a major makeover

By Kap Maceda Aguila

THE TOYOTA Technical Center Shimoyama, situated in a mountainous region between Toyota City and Okazaki, has a central test course 5.3 kilometers long that features a 250-foot elevation change, lots of curves, and terrain types. The track draws inspiration from the Nürburgring Nordschleife, “which is famous throughout the world for its grueling driving conditions.”

It was at this new proving ground where the latest iteration of the Lexus IS compact executive sedan was developed — predicated on the challenges brought forth by the course “for the sake of delivering an experience like no other to drivers around the world. Moving forward, the new IS sets the bar for the dynamic handling of all future Lexus models,” continued the luxury car maker in a release.

The IS nameplate debuted in 1999, and has since sold more than one million units. Lexus attributes its popularity to a “tossable and sharp-handling chassis, low to the ground, and powered by a longitudinally-mounted engine sending drive to the rear wheels.”

The new IS builds on this “fulfilling sensation.”

Said Lexus Philippines Vice-President Carlo Ablaza in an exclusive interview with “Velocity,” “The Lexus IS is built for life’s confident and ambitious — those for whom cars are for driving wired with the thrill of power and precision of cornering.” The target demographic is comprised of executives in their 30s and 40s who give importance to “provocative styling and agile driving dynamics.”

Key visual changes in the new IS include a lower, wider (by 30mm) stance. Its silhouette was conceived to heighten this by creating “deeply sculpted three-dimensional forms.” A new, unified tail lamp stretches across the rear fascia — lending to an overall dynamic look befitting the car’s performance.

Two variants are available: The IS 350 F Sport is fitted with 19-inch multi-spoke wheels in dark premium metallic finish — a nod to the brand’s RC and LC models — onto which 235/40 R19 tires for the front and 265/35 R19 for the rear are affixed; the IS 300h Premier, on the other hand, also gets 19-inch wheels with a multi-spoke design and shiny silver metallic finish. All of its tires measure 235/40 R19.

Meanwhile, the cabin is marked by a horizontal instrument panel design and driver-focused dashboard layout. The shift knob and steering wheel are trimmed in perforated leather, while the first-generation IS is paid homage to via larger circular air vents.

Lexus also gifts the IS with a larger touchscreen for its infotainment system, and has been moved closer to the driver for easier operation and to “minimize driver distraction.”

Buyers of the new IS 300h Premier get a choice of interior color scheme: black, Dark Rose, and ochre with complementing stitch patterns and accent trims. The IS 350 F Sport’s color choices are F Sport White, F Sport Black, and F Sport Flare Red. On both variants, the center console panel is finished in piano black, and has touch-sensitive temperature controls that can be easily adjusted by gliding a finger over them.

Sculpted front seats have eight-way power-adjustable positions with lumbar support, and are ventilated. The IS receives a 10-speaker surround sound system. The F Sport model comes with a 10.3-inch Electro Multi Vision touchscreen, while the IS 300h Premier boasts an eight-inch touchscreen display. Both variants have Apple CarPlay and Android Auto.

Providing grunt to the F Sport is a naturally aspirated V6 good for 310hp and 380Nm, mated to an eight-speed automatic. The IS 300h Premier gets a 2.5-liter inline four-cylinder hybrid power plant linked to a Lexus E-CVT intelligent transmission for optimum efficiency. The LSS+2 suite of safety features includes dynamic radar cruise control, lane tracing assist, automatic high beam, and more. A total of 10 air bags can deploy when needed, while a pop-up hood reduces injuries to pedestrians.

Expounding on the significance of Shimoyama (as the IS is the first Lexus to be developed with inputs derived from the track), Mr. Ablaza said it played a role in crafting handling, suspension, chassis rigidity and driving feel. “Put it this way: If your car can blast through the Nürburgring while still maintaining its balance, handling, ride comfort, and feel, I’d say that’s a very good vehicle.”

The IS 350 F Sport is priced at P3.808 million, while the IS 300h Premier costs P3.328 million. The Lexus IS is available in the following exterior colors, including two newly developed chromatic colors (Sonic Iridium and Sonic Chrome): F Sport color choices are White Nova, Radiant Red Contrast Layering, and Heat Blue Contrast Layering while; the Hybrid Premier gets Sonic Quartz and Red Mica Crystal Shine.

Rice seen fading as staple with higher incomes

THE PHILIPPINES’ dependence on rice as its leading staple food is expected to fade as incomes increase and diets are diversified, agriculture experts said.

“We need to increase the income of Filipino households so that we can enable consumers to access more alternatives to rice because other staples may be more expensive,” according to Tamara Palis-Duran, assistant representative for Programmes for the United Nations Food and Agriculture Organization (FAO), during the BusinessWorld Virtual Economic Forum Thursday.

Ms. Palis-Duran said the initiatives of the Department of Agriculture (DA) to introduce other alternatives was a “good start,” but added that it will take a long time for Filipinos to accept new staples other than rice.

“Considering the historical ties of rice to the country, it will really take a long time for us to get accustomed to other alternatives such as corn and sweet potato,” Ms. Palis-Duran said.

“We need to increase their incomes, increase awareness, and introduce some behavioral changes to allow them to diversify to other staples,” she added.

The Philippine Statistics Authority estimated the average annual family income in 2018 at P313,000, against P268,000 in 2015.

Paul S. Teng, senior fellow and adviser in Food Security at S. Rajaratnam School of International Studies, said that lower-income families in the Philippines and across Asia tend to eat more rice.

He said that once policymakers and national governments boost their efforts in increasing household incomes, the diversification of the consumer diet will gain traction.

“They can now start branching away to other staples. Rice is a legacy staple all over Asia. It is so difficult to change legacy food habits because food is such as personal thing,” Dr. Teng said.

Further, Dr. Teng said relative to its neighbors, the Philippines is weak in terms of food security.

“The average Filipino household spends 40% of its income on food compared to 25% in Malaysia and 8% in Singapore. That is really something to ponder,” he said.

According to the DA, rice consumption averages 118.81 kilograms per capita each year, or around 325.5 grams of rice daily.

Shahidur Rashid, South Asia director of the International Food Policy Research Institute, said technology is now playing a bigger role in ensuring food security all over the world.

“Agriculture is critically important to ensure food security but we need other systems and institutions in place to make it effective such as technology,” Dr. Rashid said.

FAO’s Ms. Palis-Duran said Filipino farmers usually live in rural communities and efforts must be exerted to provide the assistance needed to help them understand new technology.

Ms. Palis-Duran said some of the support that can be given to farmers include the translation of guides into their languages, explanations of their benefits, and the effect it will have on their farming techniques.

“Extension workers are really needed because they are the ones on the ground. They have direct reach to farmers in the communities. They can help convince farmers who are not technologically adept to make use of technology,” Ms. Palis-Duran said. — Revin Mikhael D. Ochave

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