How PSEi member stocks performed — November 20, 2020
Here’s a quick glance at how PSEi stocks fared on Friday, November 20, 2020.
Peso may climb vs the dollar on BSP easing, vaccine news
THE PESO may strengthen against the dollar this week after the central bank cut borrowing costs anew and on continued progress in trials for coronavirus disease 2019 (COVID-19) vaccine candidates.
The local unit closed at P48.23 on Friday, rising by 8.5 centavos from its P48.315 finish on Thursday, data from the Bankers Association of the Philippines showed.
Week on week, however, the peso declined by two centavos from its P48.21 finish on Nov. 13.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the peso strengthened after the Bangko Sentral ng Pilipinas (BSP) slashed key interest rates to new record lows.
“This will help boost economic recovery prospects in terms of further reducing borrowing costs, spur greater demand for loans that boost investments, jobs, economic opportunities, and more gains in the local financial markets,” Mr. Ricafort said.
The BSP Monetary Board on Thursday unexpectedly slashed benchmark interest rates by another 25 basis points to accelerate economic recovery amid the surge of COVID-19 cases in certain countries.
This brought down the rates on the BSP’s overnight reverse repurchase, lending and deposit facilities to new record lows of 2%, 2.5%, and 1.5%, respectively.
For this week, Mr. Ricafort said the peso may continue rising as the government disburses more funds out of the P165.5 billion programmed under Republic Act 11494 or the Bayanihan to Recover as One Act.
“The peso could be stronger with faster utilization of the Bayanihan II Law funds that could lead to faster economic recovery,” he said in an e-mail.
Meanwhile, a trader said the peso may also strengthen as drug companies advance in their development of COVID-19 vaccines.
Pharmaceutical companies and research centers around the world are working on potential COVID-19 vaccines, with large global trials of several of the candidates involving tens of thousands of participants underway, Reuters reported.
The US Food and Drug Administration’s outside advisers will meet on Dec. 10 to discuss whether to authorize the COVID-19 vaccine developed by Pfizer, Inc. and German partner BioNTech for emergency use, the agency said on Friday.
Meanwhile, AstraZeneca started late-stage trials on Saturday of an experimental long-acting monoclonal antibody combination drug it hopes could be used as a so-called prophylactic to prevent COVID-19 infection in at-risk people for up to 12 months.
The dollar on Friday rose against major currencies such as the euro and yen, with traders consolidating positions amid competing forces that pull the currency in different directions: the surge in virus cases, on the one hand, and positive vaccine news, on the other.
For this week, Mr. Ricafort sees the peso moving from P48.10 to P48.35 versus the dollar, while the trader expects it to range from P48.15 to P48.30. — KKTJ with Reuters
PHL shares likely to correct after last week’s rally
By Denise A. Valdez, Senior Reporter
PHILIPPINE SHARES are expected to see tempered gains this week after extended optimism in the past few days on the back of news on several coronavirus disease 2019 (COVID-19) vaccine candidates.
The benchmark Philippine Stock Exchange index (PSEi) jumped 172.17 points or 2.46% to end Friday’s session at 7,169.79. This marked the PSEi’s best finish since Feb. 24 when it closed at 7,187.44.
On a weekly basis, the index was also higher by 199.91 points or 2.87%.
However, value turnover slowed 30% to an average of P10.4 billion. Foreign investors also posted an average net selling of P596.24 million, which reversed the prior week’s average net inflows of P799.12 million.
“Local shares rallied on news of successful COVID-19 vaccine trials, shrugging off early-week weakness brought about by the devastation of Typhoon Ulysses,” online brokerage 2TradeAsia.com said.
“This week, we may see a pullback as investors book gains out of the market’s three-week rally. The local bourse may also test its initial support, which is its 10-day exponential moving average currently at 6,922.88,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco added.
The PSEi has been flirting with the 7,000 level since Nov. 10, when news on the success of Pfizer, Inc. and BioNTech SE’s COVID-19 first came out. Market optimism was sustained until the past week, when Moderna, Inc. reported similarly positive results on its vaccine.
To keep the flame alive, 2TradeAsia.com said there will be two key elements that investors will look at: news on the logistical aspect of distributing the vaccines and follow-through efforts to ensure herd immunity.
“Any concerted program at the national level and plans will be appreciated by the market, and will be crucial in turning valuations higher,” the brokerage said.
It noted that “the tide is turning quickly,” recalling that six months ago, it seemed too ambitious to hope for a vaccine soon and a return of the PSEi to the 7,000 level.
“[W]hile some correction is due, it’s not bound to cut as deep,” 2TradeAsia.com said.
Aside from the vaccine watch, investors will be looking at upcoming economic figures, such as the October budget balance report and latest bank lending and money supply data.
“Primary downside risk seen for this week is a surge in COVID-19 cases here and/or offshore as this is still considered as the main impediment to economic recovery,” Mr. Tantiangco said.
Philstocks put the PSEi’s support within 6,922.88 to 6,600. 2TradeAsia.com put support at 7,000 and resistance between 7,200 and 7,300.
Phoenix races to 2-1 series lead after key Game Three win
By Michael Angelo S. Murillo, Senior Reporter
THE Phoenix Super LPG Fuel Masters moved a step closer to reaching the finals of the PBA Philippine Cup after booking a key 92-89 victory over the TNT Tropang Giga in Game Three of their best-of-five semifinal series on Sunday at the Angeles University Foundation Sports Arena in Pampanga.
In yet another close fight between the two teams in their Philippine Basketball Association (PBA) Final Four clash, Phoenix held strong down the stretch amid the tough challenge of TNT to go up in the series.
Simon Enciso got it going early for TNT, draining three straight three-pointers to help his team to a 17-12 cushion in the first eight minutes of the opening quarter.
Phoenix, however, would charge back the rest of the frame, on the lead of Calvin Abueva, to narrow the gap, 24-22.
The Fuel Masters sustained the momentum they got in the first canto in the second quarter, outscoring the Tropang Giga, 19-11, to take a 41-35 advantage by the 5:10 mark.
TNT stayed within striking distance after, down by just two points, 49-47, at the halftime break.
Phoenix still dictated the pace of the contest at the start of the third canto.
It stretched its lead to nine points, 62-53, with 8:45 left to play behind the hot shooting of Matthew Wright.
TNT made attempts to claw its way back from there but were held down by the Fuel Masters, who were still ahead, 73-69, entering the fourth quarter.
With the outcome still wide open, the teams began the payoff canto with more bounce to their attacks as they looked to establish control for the homestretch.
The count was knotted at 77-all by the midway point.
Phoenix, however, went on an 11-4 run in the next three minutes to create a seven-point distance, 88-81.
Sensing the game was slipping from their hands, the Tropang Giga moved to press on with their charge, cutting their deficit to just a point, 88-87, with 1:10 left.
Phoenix got more breathing space, 90-87, after Jason Perkins scored off a putback with 47 ticks remaining.
TNT sued for time after to set up a play. The move paid off as Ray Parks Jr. scored a deuce with 40 seconds to go to make it a one-point game, 90-89.
Off a ceasefire, Mr. Wright countered for Phoenix, draining a jumper on top of the key to make it, 92-89, with 22 seconds left.
Without a timeout, TNT tried to level the count but three-point attempts by Roger Pogoy and Jayson Castro failed to connect, preserving the win for the Fuel Masters.
Mr. Wright top-scored for Phoenix with 25 points with Mr. Abueva tallying all-around numbers of 24 points, 14 rebounds, six assists, four steals and a block.
RJ Jazul and Mr. Perkins, meanwhile, each had 11 markers for the Fuel Masters, who incidentally are angling to make it to their first PBA finals appearance in franchise history.
For TNT, it was Mr. Parks who led with a double-double of 19 points and 13 rebounds, followed by Mr. Enciso with 16 points and Troy Rosario with 14.
Game Four of the series is on Nov. 25 at 6:30 p.m.
Latvian team Riga tops FIBA 3×3 World Tour Masters in Doha; Manila Chooks TM at 11th place
THE International Basketball Federation (FIBA) 3×3 World Doha Masters concluded on Saturday with Latvian team Riga fashioning out an impressive comeback to rule the tournament.
Showed tremendous determination, Riga, the number three-ranked team in the world, pulled the rug from under Serbian squad and top seed Liman, 21-20, in the finals held at the state-of-the-art Al Gharafa Sports Complex in Qatar.
The team from the Philippines, Manila Chooks TM, meanwhile, failed to advance from the group stage and finished 11th in the field of 14 teams.
Down, 20-15, at one point in the championship game, Riga wilfully charged back, capped by a buzzer-beating two-pointer from Karlis Lasmanis to send his team to the victory.
Mr. Lasmanis, 26, stepped up in the final with a game-high 11 points. For the tournament, which ran from Nov. 20 to 21, Riga, which grabbed the $40,000 top prize, went 5-0 to solidify its claim to the title.
Sharpshooter Edgars Krumins topped all scorers with 34 points for the duration of the tournament while speedy Nauris Miezis received the most valuable player trophy.
Despite losing in the finals of the Doha Masters, Liman has the chance to redeem itself in the FIBA 3×3 World Tour Final to be held in Jeddah, Saudi Arabia, on Dec. 18-19, 2020.
Meanwhile, Manila Chooks TM offered no excuses as it was swept in its two-game assignment in Pool A of the tournament.
“No excuses,” were the only words said by top Philippine 3×3 player Joshua Munzon as their team lost to Liman, 15-22, and hometown team Lusail, 14-19, in that order.
Mr. Munson top-scored for Manila Chooks TM with an average of 9.5 points in their two games.
Other members of the team were Alvin Pasaol, Santi Santillan, and Troy Rike. — Michael Angelo S. Murillo
Pacquiao is now Mobile Legends: Bang Bang PH ambassador
THE WORLDS of boxing and esports connected recently with Manny “Pacman” Pacquiao agreeing to be the Philippine ambassador for the popular multiplayer online battle arena (MOBA) game Mobile Legends: Bang Bang (MLBB).
Coinciding with the game’s milestone of one billion downloads worldwide, the people behind MLBB in the country said they are proud to welcome the boxing legend to their family, seeing the eight-division champion as embodying qualities that make one succeed in the game.
“We’ve been working on this partnership for more than a year. Based on the studies we’ve done, 70% of our users are big fans of boxing legend Manny Pacquiao. Mobile Legends: Bang Bang has a lot in common with boxing. Like boxing it requires skill, determination, physical effort, and most importantly, mental toughness. You can’t beat your opponent just by being strong, you have to also be smart,” said William Mei, marketing manager of MLBB for the Philippines, in a statement.
It is an involvement that Mr. Pacquiao, for his part, welcomed, highlighting, among other things, how the game touches him through his son, Jimuel, who plays and is a fan of MLBB.
“It was easy for me to say yes when Moonton approached me to be their Philippine ambassador. I already know of Mobile Legends even before they got in touch because my son, Jimuel, plays the game on his phone and regularly streams with friends. So, why not be a part of what my son loves?” he said.
Since developer and publisher Moonton released MLBB, the game has been picked up by gamers tremendously.
MLBB has over one billion installs and 100 million monthly active users. It has reached top 10 grossing rank in more than 50 countries and is a MOBA game which covers most countries, including Southeast Asia, Middle East, and India.
In last year’s Southeast Asian Games held here, MLBB was one of the featured titles as esports made its debut in the biennial Games, with the team from the Philippines bagging the gold in it.
In the country, too, the number of Mobile Legends users increased during the coronavirus pandemic lockdown, officials said, with over 100 million registered users and 25 million monthly active users.
“On behalf of the MLBB team, we can assure you that you can expect more surprises from us in the coming months. And to everyone who wants to venture into professional gaming or just wants to be the best version of themselves—be focused, keep pushing, and keep reaching for your dream because everyone can be a legend,” said Mr. Pacquiao.
For more on the Mobile Legends: Bang Bang, follow its Facebook page https://www.facebook.com/MobileLegendsOnlinePH/. — Michael Angelo S. Murillo
PSC moves to assist athletes hit by Typhoon Ulysses
The Philippine Sports Commission will come to the aid of athletes affected by Typhoon Ulysses.
In a statement released on Sunday, the sports agency said it has coordinated with the different national sports associations on the status of their member athletes following Ulysses, which battered a large part of Luzon two weeks ago, and financial assistance is being readied.
The PSC said it has received reports of athletes and coaches, numbering 57 from nine sports, as of this writing, being evacuated or lost their homes due to torrential rains and flash floods in Metro Manila and nearby areas.
“It might not be substantial but we will do our best we can to help them,” said PSC Chairman William Ramirez, who underscored that the processing of the financial assistance is being expedited so as to reach those affected the soonest.
“We will have this rolled out the soonest. We are just waiting for the final report from the NSA affairs so we can finalize everything,” added PSC Executive Director Atty. Guillermo Iroy Jr.
The aid for athletes hit by Typhoon Ulysses is a continuation of the PSC’s commitment to looking after its ranks despite the budgetary constraints presented to it by the coronavirus pandemic. — MASM
Djokovic, Nadal fall as Thiem, Medvedev advance to finals
LONDON — Rafa Nadal’s dream of a first ATP Finals title and Novak Djokovic’s quest for a record-equalling sixth vanished in defeats by Daniil Medvedev and Dominic Thiem in two seismic semi-finals on Saturday.
As the curtain comes down on London’s 12 years as host of the Association of Tennis Professionals (ATP) Tour’s prestigious season-ender, it would have been fitting for Nadal and Djokovic to face off for the 57th time in their glittering careers.
But times are a changing, or so it seems, and Medvedev and Thiem had not read the script.
Nadal, seeking the one major pot missing from his vast collection of silverware, must have seen the door creaking open when Thiem produced a staggering fightback to beat Djokovic 7-5 6-7(10) 7-6(5) in a classic contest lasting almost three hours.
He had beaten Medvedev in each of their three meetings, including a memorable US Open final last year.
It seemed like he had exhausted the wily Russian’s box of tricks when he served for the match at 5-4 in the second set but Medvedev, 10 years his junior at 24, stormed back to win 3-6 7-6(4) 6-3.
To put world number four Medvedev’s win into perspective, Nadal had triumphed in the last 71 matches in which he had taken the first set.
Medvedev looked the more likely winner as he raced through his service games in the opening set while Nadal laboured.
But the Spaniard pounced as Medvedev suffered a momentary dip at 3-4 and suddenly he was a set to the good.
Undeterred, Medvedev kept hammering away and Nadal dipped at the start of the second set, dropping serve with a double fault. Medvedev squandered a point for a 5-1 lead and paid the price as Nadal hurtled back to stand on the brink of victory.
Medvedev broke to love, though, and the set moved into a tiebreaker. A flukey forehand winner helped Medvedev into a 5-3 lead and he stayed composed to take it.
Earlier in the empty arena, the 27-year-old Thiem saw four match points vanish in the second set tiebreak against Djokovic, one with a nervy double-fault, and it seemed he would pay a heavy price.
Djokovic, who is one short of Roger Federer’s titles record at the ATP Finals, led 4-0 in the deciding set tiebreak.
But US Open champion Thiem unleashed a stunning counter-attack to reel off six points, reaching match point with a ripping crosscourt backhand. — Reuters
Busy Lakers
Free agency in the National Basketball Association has turned competition into a year-round affair. Once upon a time, the off-season used to give players and fans alike a respite from the challenges of keeping up with, and keeping tabs on, movements in the league, actual or prospective. Not anymore. Instead of quiet moments enabling protagonists to take stock of their accomplishments, or lack thereof, flurry after flurry of activity now mark campaigns and turnarounds. The hectic schedule in the midst of the pandemic serves only to accentuate the speed with which changes occur; in one particular case, eagerness got the better of trade partners to the point where the Commissioner’s Office has had to step in and probe its beginnings, its seeming consummation even prior to the start of the official negotiating phase, and its equally abrupt end.
Considering the stakes involved, the Lakers arguably stand as the prime example of the franchises’ need to keep pace with each other. Fresh off a bubble-accentuated championship run, they have been compelled to hit the ground running in their quest to put up the best-possible title defense. In part, it’s because they know their window is relatively short; LeBron James, while still the best of the best in the NBA, is turning 36 next month, and history has invariably dealt precipitous falls to supposed rocking-chair candidates defying the odds; in larger measure, it’s because they have no choice; in the modern era, doing nothing means falling behind. Even with the Larry O’Brien Trophy in hand—or, perhaps, precisely with the Larry O’Brien Trophy in hand given the targets on their backs.
So the Lakers got busy as soon as free agency began. And, in doing so, general manager Rob Pelinka proved relentlessly ruthless. He sent erstwhile starter Danny Green packing for Sixth Man of the Year runner-up Dennis Schroder. He then one-upped himself, netting actual SMoTY winner Montrezl Harrell (which then forced successful reclamation project Dwight Howard to delete a tweet announcing a return to the purple and gold and promptly move to the Sixers). For good measure, he tapped Wesley Matthews as the designated three-and-D appointee and secured the return of vital cog Kentavious Caldwell-Pope. All while he remains on the lookout for more productive deals to make. Not bad for a honcho who was publicly pilloried by living legend Magic Johnson just last year and who finished no better than seventh in the Executive of the Year sweepstakes.
Not surprisingly, the Lakers aren’t done. They may already have enough talent to let Avery Bradley walk away and join the Heat, their Finals foils, but they’re keen on staying active in free agency and, in the process, becoming even better. Whether they continue to have the financial flexibility to maintain their relevancy in the market remains to be seen; from the outside looking in, their deal with Matthews involved the use of their bi-annual exception, thus placing them in a hard cap. Creative sign-and-trade propositions, coupled with their unique status to lure title-hungry players with bargain-basement salaries, figure to keep them pushing to improve their lineup.
Which, in a nutshell, means the Lakers are poised to begin the 2020-21 season as heavy favorites. Never mind that they’ll have little rest and no time to enjoy the fruits of their previous labor. With James and fellow All-NBA First Team member Anthony Davis leading the way, they’re where they deservedly are: on top, surveying the jockeying for position at their feet. And, certainly, it helps that projected threats have become weaker even with the start of the season still a month away. The Warriors have lost Klay Thompson to injury. The Bucks have failed to add Bogdan Bogdanovic due to overeagerness and loose lips. The Clippers have become weaker following key departures.
Indeed, the Lakers are right where they want to be: first among equals.
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and Human Resources management, corporate communications, and business development.
COVID-19 tally nears 420,000; 8,123 dead
THE DEPARTMENT of Health reported 1,968 coronavirus infections on Sunday, bringing the country’s total to 418,818.
The death toll rose to 8,123 with 43 new fatalities while recoveries increased by 10,957 to 386,486, it said in a bulletin.
There were 24,209 active cases, 82.5% of which were mild, 8.2% did not show symptoms, 5.8% were critical, 3.2% were severe, and 0.28% were moderate.
Cavite reported the highest number of new cases at 107, followed by Quezon City at 97, Davao City at 86, Laguna at 84, and Quezon at 77.
A total of 5.1 million individuals have been tested for the coronavirus disease 2019 (COVID-19) as of Nov. 20, according to the Health department’s tracker website.
President Rodrigo R. Duterte last week approved the emergency use of coronavirus vaccines in the country.
This would cut the approval process to 21 days from six months.
Food and Drug Administration (FDA) Director General Rolando Enrique D. Domingo on Thursday said five vaccine manufacturers intend to conduct clinical trials in the Philippines.
About 58.5 million were infected and about 1.4 million people died of coronavirus worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization (WHO).
About 40.5 million people have recovered, it said.
COLD STORAGE FOR VACCINES
At the House of Representatives, a bill seeking to determine the specifications of the cold storage facilities needed for the COVID-19 vaccines has been filed.
Quezon City Rep. Precious H. Castelo filed House Bill No. 8000 or the proposed Vaccine-Ready Philippines Act of 2020, which mandates the Health department to provide sufficient and appropriate cold storage equipment for storage and safekeeping of the vaccines prior to arrival in the country.
“This pandemic has taught us many things, one of which is the importance of preparation. While this pandemic is something that caught many countries and governments off guard, this is not sufficient excuse not to prepare,” the bill’s explanatory note stated.
“Considering that the Philippines is also a relatively populous nation, a safe and effective mass distribution of the vaccines require ample planning and preparation.”
The measure also tasks the Health department, in coordination with the Inter-Agency Task Force (IATF) for the Management of Emerging Infectious Diseases, to promulgate the necessary rules and regulations for the implementation of the law.
Secretary Carlito G. Galvez, Jr., IATF chief implementer, has been designated by the President as vaccine czar, giving him authority to lead and coordinate all aspects of the vaccine procurement and distribution.
ASEAN
A senator, meanwhile, called on southeast Asian leaders to agree on a global price ceiling and even a waiver on patents for vaccines.
Senator Imee R. Marcos, chair of the Senate committee on economic affairs, urged the Association of Southeast Asian Nations (ASEAN) to use “its clout to start a new way of doing business in the manufacture, patenting, pricing, and distribution of vaccines for COVID-19 and future pandemics.”
“We need a global accord on COVID-19 vaccines, a standard ceiling on vaccine prices, diversified manufacturing and supply in all world regions,” Ms. Marcos said in a statement over the weekend.
“The ASEAN can initiate a new normal for patents and copyrights, a world order of fairness, compassion and commitment to the common good,” she said.
Leaders of the 10-member ASEAN held a Special Summit on COVID-19 in April to discuss a “collective response” to the pandemic.
In the joint declaration issued on April 14, the member nations resolved to “remain united and vigilant against COVID-19 and commit to work closely with the WHO, ASEAN’s external partners and the international community” to stop the spread of the pandemic and “protect people’s lives and livelihoods.”
ASEAN is composed of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. — Vann Marlo M. Villegas and Kyle Aristophere T. Atienza
Filipino scientist cites rising diseases due to warmer temperature
CONCRETE action is needed now to address the climate crisis so that nations across the world, particularly in southeast Asia, can prevent the emergence of diseases, a Filipino doctor said on Friday.
In a virtual briefing, Renzo R. Guinto, chief planetary doctor of think-and-do tank PH Lab, said a planet vulnerable to the effects of climate change will lead to the rise of more illnesses amid the new normal brought on by the coronavirus disease 2019 (COVID-19) pandemic.
“A warming planet is conducive (to) the reemergence of all diseases and the emergence of new ones,” he said during the launch of the RISE-Southeast Asia Alliance for Health and Climate.
Southeast Asian countries, including the Philippines, are hotspots for emerging infectious diseases and are highly vulnerable to the effects of climate change as well, Mr. Guinto said, citing data from Asian Scientist and the Multiple Climate Hazard Index.
Around 250,000 climate-related deaths are projected from 2030 to 2050, the World Health Organization (WHO) said six years ago. The causes of these deaths may be related to heat-related illnesses, diarrhea, malaria, and malnutrition.
Mr. Guinto noted that these are but “gross underestimates” as they only cover diseases that could be quantified.
“We’re afraid of the COVID-19 numbers but these are the additional numbers that we expect from 2030 to 2050. We should start thinking about the health consequences of climate change in the years and decades to come,” he said.
Mr. Guinto also emphasized the predicament of the recent typhoon victims in the Philippines who had to choose between protection from climate-related diseases or health security from COVID-19.
On Thursday last week, Finance Secretary Carlos G. Dominguez III urged the Climate Change Commission to “be more aggressive” in mitigating the impact of climate change in the country. — Angelica Y. Yang
SEC warns against text scams using Duterte’s name
THE SECURITIES and Exchange Commission (SEC) is warning the public against text scams that use the name of President Rodrigo R. Duterte relating to a charity raffle where the message recipients is supposed to have won thousands in pesos.
In an advisory on its website, the corporate regulator said it has received reports that a certain foundation, claiming to be named President: Rodrigo Duterte Charity Foundation, is sending text messages that it is giving away P750,000 through an electronic raffle.
“…President: Rodrigo Duterte Charity Foundation is not registered with the commission as a corporation. Further, the Policy and Specialized Supervision Sector of the Bangko Sentral ng Pilipinas (BSP) has confirmed that the alleged electronic raffle is a fake,” the SEC said.
Based on its investigation, the SEC said that the text scams claim to be working with the central bank for a “Handog Maagang Pamasko Pangkabuhayan” and “Handog Pangkabuhayan” program.
It gives an approval number by the Department of Trade and Industry (DTI) and tells the recipients to contact a hotline number to claim the prize.
A similar scam had been found by the SEC earlier this year, and accordingly, it issued an advisory against it on Apr. 2.
“[T]he public is hereby advised not to reply or call the hotline numbers given,” it said. “Should you receive any text scam, you are advised to report the matter to the National Telecommunications Commission (NTC), the National Bureau of Investigation (NBI), the Bangko Sentral ng Pilipinas (BSP), the Department of Trade and Industry, or this commission.”
The people behind the text scams are warned of criminal prosecution and penalties under Republic Act No. 11469 or the Cyber Crime Law and Data Privacy Act. This includes a two-month imprisonment, a fine of P10,000 to P1 million, or both. — Denise A. Valdez