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Red Bull River Runes makes Philippine return

ESPORTS ACTION in the country buzzes this month despite the coronavirus disease 2019 (COVID-19) pandemic with the return to the country of the Red Bull River Runes tournament.

Back for the second straight year, Red Bull River Runes allows top local DoTA 2 players a chance to showcase their talent to a wider audience and against world-class talents.

Regional qualifiers of the tournament will take place digitally throughout the month of May with the eventual winner earning a shot at going up against a member of champion team OG, the back-to-back The International world champion.

Competitors in Red Bull River Runes will battle on a custom map built in the DoTA 2 environment. The tournament offers players a fast-paced 1v1 mirror matchup that rewards intuition and the ability to make quick decisions. In order for a player to progress through the tournament, they must first achieve three kills or score the first kill on an enemy T1 Tower.

The tournament is open to all players ages 18 and above, with their own Steam and Discord accounts.

Tournament proceedings start with the Mindanao Qualifiers on May 8 and 9, followed by the Visayas Qualifier (May 15 and 16), and the Luzon Qualifier (May 22 and 23).

A Last Chance Qualifier takes place on May 29 with the Philippine Finals, to be livestreamed via Lupon WXC), set for May 30.

The 1v1 finals against a member of 2019 The International champion OG is slated for June.

Registration for the Red Bull River Runes tournament is ongoing at WIN.GS/PHR1V1RUNES. — Michael Angelo S. Murillo

Packers QB

Brett Favre and Aaron Rodgers haven’t always been friends. In fact, their relationship arguably started off as icy at best. The latter was selected 24th overall in the 2005 draft precisely to replace the former, who hitherto remained outstanding for the Packers, but who nonetheless appeared to be on the downside. Pride, not coincidentally that which fueled their competitiveness and success, got in the way of smooth interpersonal relations. “My contract doesn’t say I have to get Aaron Rodgers ready to play. Now, hopefully, he watches me and gets something from that,” the incumbent starter then defiantly told the Milwaukee Journal Sentinel. Which, creditably, the quarterback-in-waiting did, the absence of active mentorship (and petty pranks) notwithstanding.

“I don’t think you can ever replace a legend” was the quote of a grateful Rodgers, whose draft stock inexplicably fell to a point where he remained available for the Packers to take. He didn’t care that Favre was beloved in Wisconsin, and that he would have to wait for his turn. Newly installed general manager Ted Thompson was ecstatic; reflecting the sentiments of a management group fed up with the three-time Most Valuable Player’s yearly flirtation with retirement, he looked forward to the prospect of planning offseasons effectively and without being hostage to the whims of the larger-than-life face of the franchise.

Favre, meanwhile, dug in his heels. Despite the writing on the wall, he kept chugging along, going 4-12, 8-8, and then an inspired 13-3 in the next three years. By then, however, the Packers had made up their mind, and not even a series of meetings with head coach Mike McCarthy after his usual vacillation could prevent his departure for the Jets. It was Rodgers’ time to shine, they believed. And, as things turned out, they wound up proven right, though the two players’ ties stayed fractured. As he himself noted, “I would say (we were) strong enemies. I wanted to play my tail off, and so did he, especially when we played against each other.”

These days, it would be an understatement to argue that the two are close. They communicate with each other constantly, the old wounds gone and having been replaced by stronger skin. Hindsight gives perfect perspective, with all the hardware amassed since their parting of ways lending support for the changing of the guard. The Packers have celebrated a Super Bowl win since then, and Rodgers’ efforts have been rewarded with two MVP trophies. And through it all, Favre has been generous in praise of his once-upon-a-time rival. From the outside looking in, he finally appreciated what his replacement brought to the table.

Which, in a nutshell, was why Favre minced no words describing the Packers’ decision to take quarterback Jordan Love with the 26th pick in last week’s draft. Disclosing that he has talked to Rodgers about the choice, he predicted that the latter “will play somewhere else” at some point in the future. He told the Rich Eisen Show that the move sent a “disrespect message,” especially since the franchise had the option to pick up “any weapons that can help immediately.” Needless to say, he was speaking from experience; he drew from how he felt back when his exit was being engineered.

Significantly, Rodgers has stayed silent throughout. He’s also unlike his predecessor in character; he will likely be more accommodating towards Love, although not quite from the standpoint of a has-been on the way out. After all, he’s still one of the best in his position even at 36, and continues to draw from a contract that won’t expire until 2024. That said, Favre isn’t wrong. The Packers could have used the draft to provide him with more support; not for nothing does he have a grand total of one touchdown to a first-round draft pick. Instead, they went the opposite direction. He can’t possibly be happy, and only time will tell if he feels bad enough to want to leave, or bad enough to want to stay for as long as he can.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

alcuaycong@bworldonline.com

Veterans Bank deploys mobile ATM to Antipolo amidst ECQ

To help ease the difficulty of accessing funds during the enhanced community quarantine, residents of Antipolo are now able to withdraw funds from Philippine Veterans Bank’s VeteranTeller Mobile ATM which began its service last week. This ATM on wheels will be going around the vicinity of Antipolo City as a service to the LGU’s employees, who are ATM cardholders of the bank, and, to the public as well. The VeteranTeller Mobile ATM was made possible through the partnership of Veterans Bank and the City Government of Antipolo. Photo shows (L-R) Lloyd Ligutam of the Antipolo LGU; FVP Visitacion Gajitos, Branch Banking Group Head of Veterans Bank; Ms. Rowena Nuyda, Area Head of Veterans Bank North Metro Manila Branches; and Mr. Bibian Nalda, Branch Head of Veterans Bank Antipolo Branch during the launch of mobile ATM service at the City Mall of Antipolo.

The Final Pitch: Heroes Edition highlights best Covid-19 solutions

The Final Pitch, CNN Philippines’ business reality TV show, is looking for non-profit organizations, startups, and innovators with solutions to address Covid-19 challenges. Themed the Heroes Edition, its sixth season is set to begin filming by the third quarter of this year.

Best “new normal” solutions

The Final Pitch is a competition where entrepreneurs and startups pitch their proposals and get the chance to fund their businesses with help from elite investors. The upcoming season aims to address the economic and social impacts of the Covid-19 pandemic. 

Entrepreneurs, inventors, and startup teams are also invited to pitch their solutions towards the country’s new post-COVID-19 normal.

“We are hopeful as we introduce this relevant and timely format for The Final Pitch: Heroes Edition,” says The Final Pitch host and creator John Aguilar.

“We have seen in our past five seasons the exponential effects of matching the right ideas with the right investments. We hope that through this season, we will identify the best high-impact advocacies and solutions to help turn around the economic and social ramifications of the Covid-19 crisis for the sake of our kababayans.”

Sample target industries include retail, transport, and tourism. Ideas for employment of both locals and displaced OFWs, and MSME business solutions, are welcome as well.

Applicants may send their online entries and one-minute pitch videos through TheFinalPitch.ph/application. Investors and corporate partners may reach the show through submit@TheFinalPitch.ph or 0917 8136674. For more information, visit www.thefinalpitch.ph and follow its social media accounts on Facebook, Instagram, and YouTube.

The show is currently open for pitches from non-profits for support in the form of donations and grants.

According to showrunners, these pledges must come from reputable organizations that have a specific ask for beneficiary communities such as medical frontliners, farmers, indigent communities, and displaced workers.

Interested investors and conglomerate partners are also being called upon to assist in the show’s selection process, refinement of proposals, and financial backing.

AutoDeal now allows consumers to buy cars online through its platform

In today’s modern world, consumers rely heavily on on-demand services available online to further improve and ease their lives. With short waiting time, these digital solutions offer great convenience to customers hence influencing them to utilize these services more, and further demand for innovations of this nature. Various sectors are already adapting this norm, with food, transportation, logistics, and e-commerce leading the pack. The automotive industry is getting up to pace, with online vehicle marketplace AutoDeal.com.ph bringing innovative solutions to digital-driven car buyers.

Committed to continuously improving the car-buying journey with its stream of digital services available for consumers to enjoy without leaving their homes, the online vehicle marketplace is launching its online car buying component. The newest addition to its host of digital facilities allows car buyers to reserve their dream car online for up to 30 days in just a few clicks.

 

Car buyers on the go

Consumers are growing more tech-savvy and are expecting more services to be available on desktop and mobile now more than ever. According to AutoDeal’s Industry Insights 2019, 75.99% of buyers from its website shop for vehicles using their smartphones. Over 28,000 vehicles were purchased using its platform, proving that the modern car buyer goes online to look for and purchase a vehicle.

The car buyers of today do the necessary research, read and watch car reviews, and compare vehicle prices on their screens before actually purchasing a car. It takes about 45 days for a buyer to purchase after their online inquiry on AutoDeal. Over the course of 2019, there were more than 322,900 requests for quotations and test drives made on its platform.

“In 2019, we saw consumer activities that potentially mark the beginning of a paradigm shift in buying trends. On the business side, online penetration is growing, with brands investing more heavily in their online channel than ever before.”, stated Christopher Franks, AutoDeal Co-Founder.

Buying your dream car online now made possible.

The traditional process of buying a car requires a buyer to physically go to a dealership or attend an off-site event to choose the vehicle, and make the payment there or proceed to a bank branch to do so.

With AutoDeal’s ‘buy online’ feature, the customer can skip all these steps by simply heading to a screen to digitally reserve their unit in the comfort of their own home. They don’t even need to know the dealer’s bank details as this will be taken care of for them, making the process significantly convenient.

To reserve a car, car buyers need to make a vehicle selection and fill out the online reservation form on AutoDeal.com.ph. Upon keying in the details of their chosen vehicle such as vehicle make, model, variant, and color, and entering their contact information, the customer will select their dealer of choice from the website’s range of partner local dealerships.

Customers will be prompted to make their reservation payment through the website’s preferred payment gateways including PayPal, PayPal Credit, MasterCard, and GCash. The tech startup aims to add more payment methods to offer more suitable options to consumers in the coming weeks.

Once payment has been made, the customer will receive email and SMS notifications confirming the receipt of payment. They will be contacted by a partner sales representative to discuss the options available for payment completion, either through cash or auto loan. The reservation payment will be deducted from the final balance of the transaction, and will not only help customers easily reserve their vehicle of choice, but will signal to dealers the true buying intent of the customer. While customers may still opt to visit the dealership if they wish; there is now an easily accessible option for the majority of a vehicle transaction to be conducted online.

A digitized car buying experience

As advocates of a convenient car acquisition journey, AutoDeal founders Daniel Scott and Christopher Franks are always thinking of smart solutions to make the car buyers’ lives as convenient as possible. “Through this new innovation, we extend to our customers the ability to have a more seamless, faster, and more convenient car buying process. We believe that this new website feature will not only offer a safer and a more fitting way for consumers to shop but will provide dealers with a more streamlined and cost-effective method to serve their clients.”, added Franks.

Lessons from Taiwan’s response to COVID-19

By Adrian Paul B. Conoza
Special Features Writer, BusinessWorld

Timely measures, transparency emphasized by Taiwanese experts in AIM webinar

Taiwan is highly recognized for its quick and efficient response to the coronavirus disease 2019 (COVID-19) disease when it rapidly spread in China last January. Learning from the difficulties and losses experienced during the severe acute respiratory syndrome (SARS) outbreak of 2003, Taiwan was seen by the global community taking the COVID-19 outbreak very seriously by ramping up domestic face mask production and utilizing digital technology, among other measures.

With 429 cases and only six deaths as of April 27, Taiwan has become one of the countries that other states are beginning to learn from as the world fights this pandemic.

An opportunity to learn from the country came last April 24 when the Asian Institute of Management kicked off its webinar series about best practices from selected countries in their fight against COVID-19. For the webinar’s first iteration, speakers from Taiwan shared their experiences in dealing with the disease.

Fightinga ‘long-lasting’ battle
Dr. Mei-Shang Ho, M.D., M.P.H., president of the Taiwan Health Corp., expounded on the medical aspects of Taiwan’s preventive measures.

Starting her talk, Dr. Ho pointed out that since they realized that the pandemic cannot be eradicated with the available control measures, preventing a surge of patients that would inundate the healthcare system is the key.

Regarding the length of the pandemic’s duration, she stressed that “technically when the sufficient proportion of population possess immunity, the transmission of the disease will slow down or will be halted.”

Under this context, she further stressed that “the proceed of natural infection among [the] population would be made very slow” without any vaccine or effective antiviral drug curing the disease. Until then, states should prepare for a “long-lasting” kind of pandemic.

Dr. Ho also listed four layers of protection that involves the state, health care facilities, and individuals.

At the first level, there should be control of the state’s border to mitigate the entry of the virus.

The second and third levels involve personal health. The second level tackles human behaviors in order to mitigate exposure and infection to the virus, which includes social distancing, promoting proper hand hygiene, and using face masks.

The third level, on the other hand, has to do with mitigating the severity of illness whenever one gets the virus.

Expounding further on this level, Dr. Ho emphasized that one’s health behaviors and lifestyle could contribute to the level of contracting the disease.

She listed the following risk factors for severe or fatal cases of COVID-19: diabetes, cardiovascular disease, hypertension, chronic respiratory disease, obesity, and old age.

For Dr. Ho, looking into one’s health lifestyle is one of the ways to reduce the risk of having a severe type of the disease.

“Personal behavior may reduce the exposure and infection probability. Other host metabolic states or health states may determine whether they would have severe or asymptomatic cases,” she added.

The fourth level involves health care facilities, especially in helping severe cases recover.

Highlighting the need for adequate supply to protect health care workers and outdoor triage of potentially infected patients, Dr. Ho finds that they should carefully think of cost-efficient ways to allocate their resources.

She also advised that facilitiescalculate surge capacity, including the human resource of healthcare workers, as well as setting alternative plans to expand it.

Moving forward to Taiwan’s measures, Dr. Ho pointed out that setting border controls in the state is one of the country’s very early actions.

Responding to the first reported case of COVID-19 from Wuhan last Jan. 21, Taiwan banned non-essential travel and direct flight to Wuhan, and it also prohibited entry of Chinese individuals from Wuhan.

More stringent measures were applied in succeeding months, when the entry of people from China as well as the docking of cruise ships were prohibited. Flights to China were also stopped except for 5 airports, while all inbound travelers, regardless of nationality, were quarantined for 14 days with a daily compensation amounting to 35 US$.

Dr. Ho also noted that contact tracing was done respectively along with the quarantine measures. Digital tracking of location, along with a sufficient number of investigators comprising of central and local government employees, has made contact tracing much easier.

Building trust among citizens has also been very helpful as Taiwan combats COVID-19, Dr. Ho stressed. The state’s transparent information drive include a daily briefing to keep the public well-informed; the use of a digital platform to counter fake news, misinformation, and disinformation concerning the pandemic; and implementing tough penalties for disseminating fake news or disinformation.

Dr. Ho also pointed out Taiwan’s transparent policy to fairly distribute surgical masks “to build the sentiment that we are all on the same boat together”.

Aside from prohibiting the exportation of surgical masks, the government also granted the private industry to increase production capacity.

Moreover, domestically-produced masks were requisitioned and sold at a set price. To help citizens in purchasing, an app was created to indicate the stock of masks available in drug stores.

While Taiwan is successfully handling the pandemic, Dr. Ho noted, an opportunity still lies to find better tools to combat the disease, such as quick and accurate diagnostics, antivirals, and the long-sought vaccine.

Taipei’s strategy
Sharing experiences on a local scale, Tai-Chu Chou, spokesperson of the Taipei City Government, finds it very beneficial for other countries to learn from the experiences of Taiwan.

“If we want to recover our normal life [and] to enjoy our economic growth, we should walk together. We are on the same boat,” Mr. Chou said, emphasizing that experience sharing and learning is important “to strengthen the capability of the world to fight against this vicious virus”.

Under the city government’s strategies, according to the spokesperson, strict internal controls were implemented, among them monitoring individuals under home quarantine, which he regards as their most important internal control.

“One very creative measure by our Taipei government is that we provided a smart checking system to make sure those individuals would stay at the hotel or their residences,” Mr. Chou said.

When asked for recommendations on how the Philippines can harness digital technology for better contact tracing, Mr. Chou said that getting people’s confidence in the government is key to effectively apply such technologies.

He also found the increased production and use of face masks as another important facility for cutting off the spread of COVID-19 in the area.

Advanced deployment of measures, as implemented by installing isolation institutions, is also under Taipei’s strategy.

Valuing the economy as much as epidemic prevention, Mr. Chou continued, Taipei implemented strict health management measures in businesses instead of closing them down. Economic relief measures, such as those involving rent and subsidies, are also rolled out.

Avoiding excessive mobilization was also ensured within Taipei’s strategy, considering that “epidemic prevention is a long term war”.

“We should not finish all of our bullets in the first phase because more enemies may come our way,” Mr. Chou illustrated.

Sharing of experiences was also included in the strategy, as the spokesman noted that shutting down countries and cities should not last forever. “Success relies on global cooperation,” he noted.

The Taipei City Government spokesman also noted the creative measures the city implemented. Among these include the provision of transportation for people who are under home quarantine in order to prevent them from infecting others and the accommodation of hotels to the families of those who are under home quarantine.

Aside from the city’s strategy and creative measures, for Mr. Chou, the country’s advantages also play a big role in mitigating COVID-19’s spread.

He pointed out the country’s ‘superior’ national health insurance system, aside from its more than 20,000 hospitals and clinics.

“Most of the clinics in Taiwan can provide a walk-in service so that people don’t have to wait,” Mr. Chou noted, adding that such services get nearly 90% satisfaction ratings from patients.

He also stressed the country’s learned lessons from the SARS outbreak. “We paid a very heavy price. This explained why when coronavirus happened in China, early this year, our government took a very swift and effective measure to contend the virus,” Mr. Chou said.

Finding their way back home

By Hannah Mallorca
Features Writer, The Philippine STAR

Despite the lingering fear and anonymity, COVID-19 (coronavirus disease 2019) survivors are now living hopeful lives.

Three of them bravely told their tales of how the virus has changed the course of their physical, mental, and overall health. (Caution: Details in this story may trigger fear, stress, and anxiety among other COVID-19 survivors and suspected, probable and positive case individuals.) As of April 29, there are 8,212 confirmed COVID-19 cases in the Philippines. Despite this, patients seek to live another day — hoping to find their way back home.

PH4: CARLO NAVARRO
Seven days after a family trip to Japan, Mr. Navarro experienced chills and a low-grade fever of 37.7°C. The hospital said his symptoms were mild, but he insisted to get tested. The fever eventually subsided, but he experienced muscle pain and dry cough.

He soon received a call from the Department of Health (DoH) confirming that he was positive for COVID-19. Immediately, he was whisked away by an ambulance to the Research Institute for Tropical Medicine (RITM).

“I suspect I got infected during our family’s February 25 flight back home from Haneda to Manila. Behind my seat was a man coughing vigorously,” Mr. Navarro shared. “We thought we were making up for the risk by wearing masks, washing and rubbing our hands with alcohol and essential oil, and wearing disposable latex gloves which we regularly changed and threw away.”

When Mr. Navarro was confirmed to be positive, the Philippines only had three positive cases. They were Chinese tourists from Wuhan.

“This made it doubly frightening; it was surreal.My first thought was that my daughter, wife and helpers might get infected. Thankfully, they all tested negative,” Mr. Navarro recounted. His family was frightened as well. His daughter cried a lot in the beginning, while his wife remained strong.

Mr. Navarro experienced diarrhea and fever on the sixth day of his confinement. “At that point, my doctors had suspected pneumonia, which was confirmed the following day. I (also) began to lose my appetite and vomited everything I ate,” he shared.

However, it wasn’t the treatment and physical pain that put more strain on Mr. Navarro’s health — it was the psychological effects of the virus. “I was vomiting endlessly and had diarrhea probably due to stress,” he shared. According to the World Health Organization (WHO), the pandemic has also caused a crisis on mental health worldwide.

“It was terrifying to hear wails and cries from adjoining rooms when other patients would not make it through the night,” Mr. Navarro admitted. Despite this, his battle with COVID-19 strengthened his faith in God.

After 10 days in confinement, Mr. Navarro was discharged. He still experiences cough but his doctor said it is the effect of his lungs recovering from pneumonia. He was notified of his latest test result, which was negative, two weeks after his discharge.

PH# UNKNOWN: KAI SORIANO
Ms. Soriano’s story is a different one since she works on the frontline to defend patients from the virus.

Kai Soriano

“Working in the emergency room means we handle countless patients with differing diagnoses. Before the implementation of ECQ, there was a sudden influx of patients tagged as PUI. Therefore, pinpointing a specific patient as my source would be difficult,” she shared.

However, the last patient she handled was experiencing shortness of breath, although it seemed he was suffering from a myocardial infarction or heart attack. He eventually passed away — it turned out he was COVID-19 positive.

Ms. Soriano thought she was only experiencing a regular flu when she got tested. “I had fever and diarrhea, so I considered it just a normal stomach flu. What was quite unusual was I didn’t have a sense of taste and smell. That’s why it was quite a surprise when I saw my results,” she admitted.

Ms. Soriano and her family kept her condition a secret to avoid unnecessary panic. However, she was not confined in a hospital and was placed under strict quarantine.

“Every (person) living in our house was not permitted to go outside. We were discriminated,” Ms. Soriano recalled. “One day, I woke up to soldiers banging on our gate (while) yelling (through a) megaphone that I was a COVID-19 positive patient. It was then proceeded by them surrounding our house with yellow ‘Caution’ tapes.”

On April 6, the Metro Manila Council urged local ordinances to penalize acts of discrimination and violence against frontline workers, overseas Filipino workers and individuals under suspect, probable and positive cases. President Rodrigo R. Duterte and the Inter-agency Task Force for the Management of Emerging Infectious Diseases also urged local government units, police and military to prohibit discriminatory acts.

Ms. Soriano shared that she fought emotionally since she was also worried about her family’s safety. “What made home quarantine difficult was that I had to isolate myself in a separate room. It wasn’t comfortable, but I had no other choice than to stay inside,” she added.

When Ms. Soriano was declared as COVID-19-free, she was advised to boost her immune system by drinking water, taking vitamins, and eating nutritious food.

For Ms. Soriano, the discrimination that she and her family experienced was due to lack of awareness.

“Health education and information dissemination is the primary responsibility of each LGU and health worker, so they must be properly oriented to not add more confusion and unnecessary stress. There must also be a uniform process for all of COVID-related cases that may arise,” she said.When asked about her patient number, Ms. Soriano admitted that it was never relayed to her.

PH358: ROGELIO BUENO, JR.
Mr. Bueno admitted that he was in denial when he showed symptoms. On the other hand, his wife Joanna was worried about his condition since he was already experiencing fever, weakness, and difficulty in breathing.

Rogelio Bueno

“Joanna was telling me, ‘baka (COVID-19) na yan.’ I was in denial, ‘malakas katawan ko and ang taba ko, ‘di ako tatablan niyan’ was my response to my wife,” Mr. Bueno shared in his Facebook post.

According to Mr. Bueno, his symptoms quickly progressed from mild to severe. He visited various hospitals, was initially diagnosed with systemic viral illness and was prescribed various medicines as a result.

It wasn’t until the sixth hospital where Mr. Bueno got tested for COVID-19, and received his results. “The nasal swab test was very painful, it was a long stick that is inserted very deep per nostril. The throat swab test is more tolerable, thought it can still make you gag,” he admitted.

Mr. Bueno admitted that he was suffering from pre-existing asthma, hypertension and diabetes prior to being tested. Since he came from a family of doctors, they knew that his existing illnesses will complicate his condition.

“It’s hard for them because, as doctors, they go to the hospital to check their patients, but they can’t check on me since I was in isolation. At the same time, they were also put in quarantine after being exposed to me,” he added.

Like Mr. Navarro, Mr. Bueno also experienced anxiety as he dealt with the disease. “I was feeling hopeless and was preparing myself for the worst. Regrets were on my mind,” he admitted. He thought that he was not ready for his wife to be a widow at a young age.

“Good thing my wife was with me. She helped me pull through and just get through each day by telling me not to give up, by praying with me and constantly reminding me to have faith in God and that I will be healed,” he shared.

Eventually, Mr. Bueno was declared to be COVID-19-free. To maintain his condition, he observed health precautions such as taking antibiotics and checking his vital signs regularly. Despite the experience, he is grateful to have a second chance to live.

“I think (health sectors) should appreciate the frontliners more because they are putting their lives at stake (every day). I think they should be protected as well,” Mr. Bueno said.

Recovering from the virus is only the beginning of another battle for many survivors. According to the American Association for the Advancement of Science, many are likely to deal with the virus’ lingering effects and the treatments used to overcome it.

Despite this, survivors remain hopeful. “COVID-19 is not a death sentence. Since our immune systems can defend it, it is important to stay strong not just physically, but also emotionally, psychologically, and spiritually,” Mr. Navarro said.

Having the second chance to live was not easy for the three survivors. But they continue to live, hoping their stories can help patients find their way home, too.

WB sees dim PHL growth outlook

By Beatrice M. Laforga
Reporter

THE Philippine economy may contract by as much as two percent this year as the coronavirus disease 2019 (COVID-19) crisis persists, a World Bank (WB) economist said on Wednesday.

World Bank Lead Economist and Program Leader for Brunei, Malaysia, Philippines and Thailand Souleymane Coulibaly said they are currently revising the economic forecast for the Philippines for 2020.

“It will not be the six percent growth. Maybe it will be zero this year, or even minus one or two (-1, -2 contraction) this year. But next year, we will see resumption in the economy,” Mr. Coulibaly said during the BUSINESSWORLD INSIGHTS online forum on Wednesday.

In its Regional Economic Update report published earlier this month, the World Bank downgraded its earlier 6.1% growth forecast for the Philippine economy and gave a growth forecast range of 3% to -0.5%, depending on the extent of the impact of the COVID-19 outbreak and the enhanced community quarantine (ECQ) in Luzon.

“In our upcoming economic update, we’ll revise our estimates. It will definitely be downward because by the time we were providing numbers in (early) April, the health situation was not as bad as what we have now,” Mr. Coulibaly said.

“It will be lower, definitely, I can’t put out numbers yet because we need to do the calculations, my team is already working on that, we are just waiting for first quarter data,” he added.

First-quarter gross domestic product (GDP) data will be released on May 7.

Government economic managers have said the best-case scenario for the economy is flat growth, even warning of a possible one percent contraction this year.

Economic activity in Luzon, which accounts for over 70% of GDP, has been at a near-standstill since mid-March as strict lockdown measures are implemented to contain the virus outbreak.

The Development Budget Coordination Committee (DBCC) has yet to release its official updated macroeconomic assumptions, as it continues to monitor and assess the impact of the health crisis and restrictive measures on the economy.

Among those that have downgraded their Philippine growth forecasts are ASEAN+3 Macroeconomic Research Office (0.2% from the previous 4.5% estimate), the Asian Development Bank (2% from 6.2%) and International Monetary Fund (0.6% from 6.3%).

NOT ENOUGH FISCAL SPACE
Mr. Coulibaly also warned that the government may not have enough fiscal space to maneuver if the economic fallout from the pandemic widens.

“The spillover effect in many other economies, even if these middle-income economies are doing the right thing, will be large. Governments need to handle this the right way, first by having the health crisis under control. If it takes longer, then we will have a fiscal challenge because the government cannot continue to borrow to provide for daily income earners,” he said.

The Department of Health on Wednesday reported that confirmed cases of the coronavirus reached 8,212, with the death toll at 558 and recoveries at 1,023.

In that same forum, Philippine Chamber of Commerce and Industry (PCCI) President Benedicto V. Yujuico said small businesses raised concerns that government financial assistance is not sustainable in the long term.

Eventually, Mr. Yujuico said the government will have to allow companies to reopen and trust that they will do their part to observe safety measures to avoid further spread of COVID-19.

“They know that this is not sustainable, that they will just look at the Department of Finance for additional funding, loans and guarantees. It is after the third, fifth month that they are now thinking about, they are worried that it is not sustainable, they do not want to overburden the government, they are very thankful for the help, but they need to do something for their survival,” he said.

Foundation for Economic Freedom (FEF) President Calixto V. Chikiamco said a lot of micro, small and medium enterprises (MSMEs) are facing difficulties as their operations remain halted due to the extension of the ECQ until May 15.

“In the two months (lockdown), they are out of working capital and I think facing bankruptcy,” Mr. Chikiamco said.

Data from the Philippine Statistics Authority showed MSMEs account for 99.52% or 998,342 of the 1.003 million business enterprises operating in the country in 2018.

For Mr. Coulibaly, the government will have to ensure that the health situation is under control before deciding to ease lockdown restrictions.

“As soon as consumers decide to behave normally, the economy will slowly go back to where it was before the crisis,” he said.

Finance Assistant Secretary Antonio G. Lambino III said that the government has the “strong desire” to restart the economy as soon as possible but is making sure that there will be a U-shaped recovery, and not a W-shaped where a second wave of outbreak is expected to hit harder.

Mr. Coulibaly said the government, private sector and the entire country should take advantage of the opportunities arising from the health crisis and “strengthen the medium-long term prospect of the country” by focusing on the health care and education systems, as well as the digital economy.

FEF’s Mr. Chikiamco also urged the government to implement structural reforms as financial assistance programs of the government, which includes cash handouts to poor families and employees affected by the lockdown, are “useless if institutions are incapable of delivering.”

For instance, he mentioned that the Department of Social Welfare and Development (DSWD) struggled to identify and distribute cash aid to recipients of the P200-billion Social Amelioration Program, while applications for the P51-billion wage subsidy program faced backlogs as the website keeps on crashing.

To address this, the national government has ordered local governments to release the cash handouts to recipients of the SAP within 24 hours after the funds were downloaded according to Mr. Lambino of the DoF.

Further, application and distribution processes for the wage subsidy program are automated and will be quicker he said, while issues on the website were solved by launching other options to apply such as via email or cloud-based systems.

Graduating class in coronavirus limbo ponders job prospects

By Jenina P. Ibañez
Reporter

EDWARD R. INCIONG, 23, is one of almost a million graduating students in the Philippines this year anxious about their job prospects amid a novel coronavirus pandemic.

“There’s a feeling of uncertainty,” the civil engineering student from De La Salle University in Manila said in a Zoom video interview. “We don’t know if companies will accept interns after the quarantine.”

President Rodrigo R. Duterte locked down the entire Luzon island for two months until May 15, suspending work, classes and public transportation to contain the outbreak that has sickened over 8,000 and killed at least 500 people locally.

People were told to stay home except to buy food and other basic items, while a number of companies were forced to shut unless they belonged to “essential” sectors such as health care and food.

The class of 2020 has been submitting schoolwork online and graduation ceremonies have been postponed in the absence of a cure for the coronavirus disease 2019 (COVID-19) virus.

Once the lockdown is relaxed, fresh graduates will try to enter a job market marked by unemployment, as a number of companies try to reopen and stay afloat.

Arvin M. Ramos, a job recruiter at Manila Recruitment, said many of their client companies have stopped hiring.

“Business leaders have become more conservative about making decisions because of the uncertainties brought by the pandemic,” he said by Zoom.

Mr. Ramos said conservative hiring will be felt most in tourism, manufacturing, retail, entertainment and construction.

The National Economic and Development Authority said as many as 1.8 million local jobs could be lost because of the pandemic.

The International Labour Organisation (ILO) on March 18 said up to 25 million jobs could be cut globally this year. The number could be significantly higher, it said less than a month later.

IMMEDIATE EFFECT
Workplace disruptions caused by the COVID-19 pandemic could wipe out labor equivalent to the effort of 195 million full-time workers, or 6.7% of hours clocked worldwide in the second quarter, the ILO said.

Felix Weidenkaff, ILO East and Southeast Asia and the Pacific employment specialist, said this health crisis is different because the effect on global employment is immediate.

“Usually, employment adjustment follows economic contraction with some delay,” he said in a Zoom video interview. “Those full or partial lockdown measures are now affecting almost 2.7 billion workers globally, representing around 81% of the world’s workforce.”

The employment downturn will hurt young people vulnerable to falling labor demand, Mr. Weidenkaff said.

“In the case of new university graduates who enter the labor market, securing employment and a smooth transition into decent work is already a pressing challenge in itself,” he said.

Even during economic upswings, young people who enter the labor market find it difficult to find jobs that match their education. Previous recessions show how young workers will be particularly affected by the economic fallout caused by the pandemic, he added.

“As businesses are confronted with difficult decisions on how and who to keep, young workers are often the first ones to be released or face a reduction in working hours,” Mr. Weidenkaff said.

Beatrice Grace V. Berida, a 23-year-old visual communications senior at the University of the Philippines (UP), is worried about the competition.

“We might be going against a lot of people with experience and those who have been laid off,” said the graduating student who wants to work for a design start-up.

Manila Recruitment’s Mr. Ramos noted that as the economy stabilizes, companies are more likely to rehire employees they had laid off instead of hiring new ones.

“When large corporations start to hire, the people that they’ll be hiring would be people with years of experience already,” he said. “Companies don’t have the time to train people. That puts fresh graduates at a disadvantage.”

Most micro, small, and medium-sized enterprises focused on recovering from losses would not be hiring at all, Mr. Ramos said.

Some business graduates may still find work. Multinational companies might continue hiring, though delayed, he said.

FREELANCE JOBS
Theriza T. Quiambao, who graduated with a double major in Development Studies and Management of Financial Institutions from De La Salle University in February, said her job applications were pending.

She started applying for management trainee jobs at several multinational companies just before the lockdown.

“I was supposed to have an in-person interview, but we were overtaken by the lockdown so they made it virtual instead,” she said by Zoom.

Hanna D. Laurel, vice-president for external affairs at UP’s career assistance program, said a couple of companies pulled out of the university’s online career fair because they were uncertain about hiring.

“Some of them were already sure about recruiting but not until next year. They’ve changed their calendar,” she said.

Mr. Weidenkaff said young people, older workers, women, informal workers and migrants are particularly vulnerable during the health crisis.

“The outlook is highly uncertain,” he said. “There’s a likelihood that the eventual increase in global unemployment over 2020 might be higher but it will depend on how quickly the economy will recover and how effectively policy measures will boost labor demand.”

Mr. Ramos said fresh graduates should upskill and take on freelance jobs to gain experience, noting that e-commerce, online teaching, telemedicine and financial services may continue to hire workers as businesses shift to a “new normal.”

In an economy where social distancing is the norm, jobs in digital marketing and information technology will be in high demand, he said.

Rafael C. Adasa, a 24-year-old production design major at the De La Salle College of Saint Benilde, was supposed to go to Australia to study prosthetic arts.

Travel restrictions might keep him in Manila, where there are fewer jobs in an entertainment industry frozen by the lockdown.

“I don’t have any idea what will happen. It’s hard,” he said.

Coronavirus effect:Land values in Metro Manila to decline

LAND VALUES in Metro Manila are seen to drop 5-15% by the fourth quarter as rents and selling prices decline due to the impact of the coronavirus disease 2019 (COVID-19) pandemic.

Property consultancy firm Colliers International Philippines said in an online briefing on Wednesday that central business districts will take a hit from the slump in real estate demand.

“The average land values, we’re already seeing (a decline of) between 5% to 15% between the major business districts in Metro Manila… We have to consider that whenever we project land values, we’re also factoring in the prices of condominiums for residential projects. That has an impact definitely in terms of our projected land values,” Colliers Philippines Research Manager Joey Roi H. Bondoc said.

Specifically, Makati central business district is seen to record a 10% drop in land value to P773,000 per square meter (sq.m.) by the fourth quarter. Land values in Fort Bonifacio are also expected to decline 10% to P745,000 per sq.m.; in Manila Bay area by 15% to P332,000 per sq. m.; and in Ortigas Center by 5% to P337,000 per sq. m.

“We are projecting a 15% drop in average price of condominium units across Metro Manila, so definitely that has an impact on land values moving forward,” Mr. Bondoc said.

Take-up across real estate segments is also expected to slump.

Colliers Philippines said office vacancy may rise up to 5.5%, but with gradual recovery coming in by 2021 and 2022. Office supply will slow to 26% this year because of work suspension in construction sites and social distancing measures even after the lifting of enhanced community quarantine (ECQ). Online gaming operators may also reconsider expansion, while other tenants pause long-term occupancy decisions.

To kickstart recovery, Colliers Philippines said the office sector will have to rely on outsourcing tenants and traditional firms that still maintain operations. It urged the government to lift the moratorium on new economic zones in Metro Manila in order to attract global companies.

“The availability of PEZA (Philippine Economic Zone Authority) ecozones will be a significant factor given that without the incentives, it will be riskier for BPOs (business process outsourcing companies) to continue outsourcing here in the Philippines,” Colliers Philippines Director for Office Services Dom Fredrick Andaya said.

For the residential segment, a 15% price drop and a 5.5% rent drop are expected in major central business districts this year, with gradual rise seen next year. Colliers Philippines said this is due to rising unemployment rate, lower interest rates and reduced consumer confidence.

Property firms may also defer new launches this year, reducing the projected total supply by end-2022 by 3,000 from Colliers Philippines’ previous forecast of 14,000.

The retail segment also faces a slowdown as companies shift to online. Consumer spending is also expected to be muted as remittances fall and unemployment rises.

Colliers Philippines said opening of new malls will likely be pushed back because of work stoppage. He noted online retailers will shine as the practice of social distancing persists.

“What’s happening right now is we’re at this pivotal point wherein it will become a tenants’ market. It’s softer, the rentals are softer, there are price corrections… But with that, there are opportunities for companies who are doing very well in this market, looking to expand,” Colliers Philippines Managing Director Richard T. Raymundo said. — Denise A. Valdez

Minority investors can add agenda items in company meetings

Securities and Exchange Commission (SEC) logo

MINORITY INVESTORS are now empowered to add items to the meeting agenda of publicly listed companies, according to the Securities and Exchange Commission (SEC).

The corporate regulator issued Memorandum Circular No. 14 on Tuesday giving shareholders of listed companies representing at least 5% of outstanding capital stock to include items in regular or special stockholders’ meetings.

If the shareholders, whether alone or together, are qualified based on this criteria, the items they include in meeting agendas will be classified as “Other Matters.”

The new rule is set to take effect after two weeks from the memorandum’s publication in newspapers of general circulation. The SEC said this new guideline is meant to “promote good corporate governance and the protection of minority investors.”

If any officer or agent of a publicly listed company refuses to allow the shareholders to exercise this right, the company may be punished with administrative sanctions as listed in the Revised Corporation Code.

Among the penalties in the code are up to a P2-million fine, a cease and desist order, suspension or revocation of certificate of incorporation, and dissolution of the corporation and forfeiture of its assets.

“The newly issued rules promote good corporate governance and the protection of minority investors, in line with our mandate as the overseer of the corporate sector and the champion of the investing public,” SEC Chairperson Emilio B. Aquino said in a statement.

“The rules also bolster the reforms that the Commission and other government agencies have been pursuing to further improve the ease of doing business in the Philippines and make our economy more competitive globally,” he added.

The recent delistings of Melco Resorts and Entertainment (Philippines) Corp. and Travellers International Hotel Group, Inc. drew criticism from minority investors as the companies bought their shares at a much lower price than when they originally purchased them.

This eventually pushed the bourse operator Philippine Stock Exchange, Inc. to work on rules that would change the required approvals and tender offer price for voluntary delistings. — Denise A. Valdez

Cebu Air swings to losses on halted flights

CEBU Air, Inc. (Cebu Air) registered a net loss of P1.18 billion in the first quarter of the year, reversing its multi-billion profit last year as the coronavirus disease 2019 (COVID-19) crisis prompted a lockdown that suspended air travel.

The budget carrier, which operates Cebu Pacific, recorded a 24.9% decline in revenues to P15.91 billion from P21.18 billion in the same period last year. In the first quarter last year, it posted a net profit of P3.36 billion.

In a regulatory filing, the Gokongwei-led company said: “With the rapid escalation of the situation surrounding COVID-19, the Philippine government implemented an enhanced community quarantine over the entire Luzon, which then prompted the Group to suspend all its scheduled flights beginning March 19, 2020.”

Passenger revenues were down 27.4% to P11.39 billion in the first quarter from P15.68 billion in the same period last year. The group said the decrease was largely because of the nearly 17% drop in passenger volume to 4.4 million from 5.3 million.

It also reported a decrease of 29.7% to P1.01 billion in cargo revenues in the first quarter from P1.44 billion posted in the same period last year.

The company’s operating expenses were down 4.2% at P16.61 billion compared with last year’s P17.33 billion.

Cebu Air previously reported a net income of P9.12 billion for 2019, or more than double its net income a year ago of P3.92 billion. The growth was mainly driven by the airline operator’s passenger business segment, which contributed P61.68 billion to the total revenues, 13.7% higher than the previous year’s P54.26 billion.

The listed company said it had expected the COVID-19 pandemic to “adversely affect” its financial health.

“While it is difficult to predict when operating conditions will improve, the Group believes that [the COVID-19] remains a going concern, given the measures undertaken, its liquidity position, its access to short and long term funding, and the strong relationships it has with major suppliers,” it said in a statement last month.

On Wednesday, shares in the company rose by 0.82% at the Philippine Stock Exchange to close at P49.40 each. — Arjay L. Balinbin

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