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Investors buy Axelum shares as lockdown measures ease

MARKET PLAYERS snapped up Axelum Resources Corp. (AXLM) last week immediately after Metro Manila and surrounding areas returned to general lockdown, despite the coconut products exporter booking lower profit in the second quarter.

A total of 215.18 million Axelum shares worth P517.31 million were traded from Aug. 17 to 20, data from the Philippine Stock Exchange showed.

Shares in the company finished at P2.42 apiece last Thursday, 3% higher than the Aug. 14 close of P2.35. It has declined by 8% since the start of the year.

Local financial markets were closed on Aug. 21 in commemoration of Ninoy Aquino Day.

“We think that high investor participation seen on high volume [last Aug. 19] led the short-term rally on AXLM’s prices,” Claire T. Alviar, research associate at Philstocks Financial, Inc., said in an e-mail, referring to the ticker symbol for the company.

“This is along with the easing of community quarantine in the Philippines, particularly in Metro Manila,” she added.

Last Wednesday, Axelum’s total traded shares surged to 211.04 million worth P507.39 million after closing at P2.48 apiece.

Metro Manila and neighboring provinces were back under a stricter general lockdown from Aug. 19 to 31. This came after undergoing a restrictive form of community lockdown which started from Aug. 4 until Aug. 18.

This easing of lockdowns provided positive sentiment for Axelum during the week. Investors were also digesting the latest earnings results of the company, Ms. Alviar said.

Axelum’s net income during the second quarter plunged by nearly half to P82 million as revenues decreased by more than a tenth to P1.18 billion after its supply chains were affected by the strict lockdowns imposed during the period.

This brought its revenues for the first semester to P2.39 billion, 8.6% lower from a year ago, while its bottom line declined by almost half to P202.94 million.

Despite the profit decline in the second quarter, Axelum’s share price remained stable supported by its P500-million buyback program, with only P129 million being used so far, AP Securities, Inc. Senior Research Analyst Rachelle C. Cruz said in a text message.

“AXLM should be one of the companies in the consumer sector to recover first, as export sales comprise 92% of first-quarter sales. We expect external demand for its products to rebound as more countries ease strict lockdown measures implemented last Q2,” Ms. Cruz said.

She also expects Axelum’s margins to improve “sequentially” as prices of coconuts begin to normalize after most parts of the country transitioned to the less restrictive general lockdown.

“Costs are also weighing on the bottom line of the company. This will be the challenge of AXLM in the short run. While in the long run, we think that the bottom line of the company should improve to be able to trade around its P5.00 IPO (initial public offering) price,” Ms. Alviar said.

Following the strict lockdown measures, she sees Axelum finishing with P527.40-million net income by the end of this year, nearly a third lower than the P774.81 million it earned last year.

The analysts see Axelum to trade sideways in the coming weeks in the absence of fresh developments in the market.

Ms. Alviar gave support prices of P2.20 to P2.30, while resistance prices range from P2.53 to P2.60.

Meanwhile, Ms. Cruz pegged the support level at P2.13 to P2.35 and resistance at P2.65 to P2.90. — Michelle Anne P. Soliman

Style (08/24/20)

SM’s buy one, take one deals

FOR THE last week of August, SM offers buy one, take one deals to tide people over during the new normal. SM Woman offers Buy 1 Get 1 (pay for the higher priced item), and a Buy 2 Get P200 off promo on selected items. SM Men, meanwhile, has Buy 2 Get 1 (within the same brand), and Buy 3 Get 1 promos. SM Youth has Buy 2 Get 1 (within the same brand) and Buy 2 Get P200 off promos on selected items. Pieces emphasized in the promos are Zoom-ready tops, loungewear, sleepwear, activewear, and underwear. Shop at an SM Store branch and get an additional P300 off (with a minimum P3,000 single-receipt purchase) with your SM Advantage Card. Or, avail of The SM Store’s Call To Deliver service for safe shopping at home, via SM’s newest hotline: #143SM (#14376), or visit the SM website at shopsm.com.

Araneta City-zen Personal Shopper promo

WITH JUST a few clicks on a smartphone, one can book a personal shopper at Araneta City, and get a chance to win a prize. Buy from any store at the Araneta City using the Araneta City-zen Personal Shopper service in the MyKuya app from Aug. 15 to 31, and be one of five lucky shoppers who will win P1,000 worth of grocery packs. Any purchase via the Araneta City-zen Personal Shopper service is valid for the promo — whether a take-out dinner from one of the restaurants in Ali Mall, fresh produce from Farmers Market, new fashion finds from Gateway Mall, or plants or other gardening supplies at Farmers Garden. To avail of the service, download the MyKuya app from Google Play for Android users or the App Store for iOS users. Open the app, input your current location, and click the Araneta City icon. Once you get a match with a personal shopper, you can chat with him or her to facilitate the purchase and delivery of your preferred goods. The announcement of winners will be made on Sept. 3 via the Araneta City’s official Facebook page. For complete promo details and mechanics, visit the Araneta City website (https://www.aranetacity.com/news/article/Shop-remotely-get-lucky-with-Araneta-City-zen-Personal-Shopper-promo).

Rustan’s celebrates Chinese Valentine’s Day

CHINA’S equivalent to Valentine’s Day, the Qixi festival, which falls on Aug. 25, is one of the country’s oldest traditional festivals. Rustan’s has listed down some gift ideas to help customers mark the occasion. For a lady, there’s no such thing as owning too many handbags — so, why not add one more to her collection? Rustan’s has bags from some of the most coveted brands including the Alexander McQueen Skull Jeweled Satchel in embossed croc, the Givenchy Antigona, the Loewe Gate, Saint Laurent Cassandra Mini Top Handle, Bottega Veneta Swoop, Longchamp Mini Le Pliage, kate spade 3d heart crossbody, Marc Jacobs’ The Snapshot Dragon Fruit and the  Michael Kors Whitney Large Shoulder Bag,among others. For the gentleman, up his footwear A-game with a pair of Tod’s Competition sneakers, Prada Cassetta Wheel sneakers, Lacoste Men’s La Piquee 120, Bally Viber sneakers or the Jimmy Choo Bridal Romy100. The gift of sparkle is always appreciated, with Rustan’s offering Charriol, Swarovski, and Montblanc accessories. To celebrate the festival, enjoy exclusive offers of up to 50% off from SSI’s top lifestyle brands from Aug. 19 to Sept. 6. To see the complete list of offers, visit https://tinyurl.com/SSIQixiCatalogue.

Nivea offers gift packs

NIVEA MEN has developed the new Nivea Men Deep Range. It is a complete grooming system that is powered by Black Charcoal, an anti-bacterial agent that provides deep cleansing and protection. Shop from home to get the exclusive Nivea Men Deep Gift Sets in Lazada and Shopee for P354. The sets include the Nivea Men Deep Deodorant  (in Original, Espresso, and Amazonia scents), which provides perfume-like fragrance that has been proven to last long. Unlike other body sprays available in the market, it gives anti-bacterial protection and prevents underarm sweat and odor up to 48 hours. All deodorants are available in 150ml spray and 50ml roll-on formats. The gift sets also include the following: Nivea Men Deep Face Wash which deeply cleanses skin, clearing away impurities while providing 12-hour oil control and a cooling sensation (available in a 100g tube), the Nivea Men Deep Shower Gel (available in a 250ml bottle), and the Nivea Men Deep Crème, an all-around moisturizer derived from the iconic Nivea Crème. Used for both the face and body, each tub is packed with Vitamin E, is non-greasy and fast-absorbing.

Super pigmented multipurpose color cream

EVER BILENA Cosmetics has just released the super pigmented and affordable Power Paint Multipurpose Color Cream (P199). Available in four shades — Scarlet, Sangria, Chiffon and Amber — these Power Paint Multipurpose Color Creams are intensely pigmented, easy to blend, and go on soft but set to a smooth matte lightweight, powder finish. Use it on the eyes for an instant eyeshadow or colored cream liner, as a blush on the cheeks, or as a color corrector under concealer or foundation, or as a tint to add color to your lips. Watch out for this newly-released product available on EB Advance’s official page on Lazada and follow EB Advance’s Facebook page (https://www.facebook.com/EBAdvance) and Instagram page (https://www.instagram.com/ebadvance/) to know more about this product.

Indigenous protest resumes on Brazilian grain highway

SAO PAULO — Indigenous protesters on Thursday blocked a key Brazilian grain highway in the Amazon state of Para, the federal highway police said, resuming a protest that halted trucks carrying corn earlier in the week.

The Kayapó tribe say the federal government has failed to protect them from the coronavirus pandemic that has killed four of their elders, and has not consulted them on a plan to build a railway next to their land.

The Kayapó returned to the BR-163 highway in the region of Novo Progresso at 7 a.m. local time on Thursday, police said.

The BR-163 highway links towns in the nation’s biggest farm state Mato Grosso to the port of Miritituba, an important export river gateway in Para state. With the soy season almost over, the main grain transported on the road at present is corn.

Edeon Vaz Ferreira, executive director of Pro-Logistics Movement, a group linked to the Mato Grosso Aprosoja farmers association, said corn is still being shipped, but the situation is becoming increasingly complex.

“Any stoppage complicates the flow, and the programming of barges and ships,” Mr. Ferreira said, without giving further details on how the port has been affected by the protests.

Earlier this week, the Brazilian Vegetable Oil Industries Association (Abiove) said a blocked BR-163 highway could affect around 50,000 tons of soy and corn exports a day on their way towards the port of Miritituba.

A court ruling this week ordered the protesters to leave the road, which the Kayapó complied with temporarily on Wednesday. But they show no sign of backing down permanently as they insist that government representatives meet them for talks. — Reuters

Stocks to move sideways on lack of fresh leads

THE STOCK MARKET is seen moving sideways in the upcoming trading week amid rising coronavirus disease 2019 (COVID-19) cases in the country.

On Thursday, the benchmark Philippine Stock Exchange index (PSEi) fell 36.72 points or 0.6% to end at 6,005.40, while the broader all shares index dropped 18.30 points or 0.51% to 3,573.06.

Markets were closed on Friday for Ninoy Aquino Day.

Philstocks Financial, Inc. Research Associate Claire T. Alviar said in a mobile phone message that the market is expected to move sideways during the trading week amid a lack of catalysts.

Ms. Alviar said the narrative remains the same: rising COVID-19 cases and the waiting game for the development of a vaccine against the said disease.

“But so far, after the implementation of modified enhanced community quarantine in Metro Manila and as it reverted to general community quarantine, there is no risk yet of imposing stricter lockdown measures since the government is saying that the Philippines cannot afford to have stringent community quarantine,” she said.

Online brokerage 2TradeAsia.com said in a market note that economic policies will be a key factor for the market in the next few weeks, such as the signing of the new Bayanihan to Recover as One Act or Bayanihan II.

“The short trading week saw a see-saw battle between bulls and bears, as gains from the government’s quarantine easing were erased later in the week, when bears took helm,” 2TradeAsia.com said.

“At the 6,000 level, the PSEi is back to where it was just prior to the start of the second quarter earnings season in late July. Barring further black swan events plus a steady stream of fiscal support, the opinion that fundamental drivers could only improve relative to the second quarter is not unreasonable at all,” it added.

The Congress on Aug. 20 allotted a total of P165.5 billion under Bayanihan II to fund the government’s fight against COVID-19 and boost economic recovery.

Some P140 billion has been approved for funding while the remaining P25.5 billion will serve as standby funds.

2TradeAsia.com placed the market’s immediate support for the upcoming week at the 6,000 level, secondary support at the 5,800 level and resistance at 6,250.

“Due to lack of strong fresh leads, trading range would be between 5,700 and 6,100,” Philstocks’ Ms. Alviar said.

Meanwhile, a jump in US business activity and home sales helped push global equities and the dollar higher on Friday, counteracting earlier stock declines in Europe.

The Dow Jones Industrial Average rose 190.60 points or 0.69% to 27,930.33. The S&P 500, which broke out of its bear market on Tuesday by recouping pandemic-related losses, powered up 11.65 points, or 0.34%, to 3,397.16. The tech heavy Nasdaq Composite added 46.85 points, or 0.42%, to 11,311.80. — R.M.D. Ochave with Reuters

Meet Merc’s first 7-seater compact SUV

 

GERMAN luxury brand Mercedes-Benz recently launched in the Philippines its very first seven-seater in the compact car family, the stylish Mercedes Benz GLB Class. The GLB is the marque’s most versatile compact SUV yet, and is its eighth model featuring the Modular Front Architecture (MFA) — a midsize unibody automobile platform that the manufacturer uses in order to enable parts-sharing across a range of different products.

The GLB is perfect for short, medium, and long journeys in the Philippines; and especially ones that involve growing families or larger groups of friends who put great value in vehicle refinement and comfort. The compact SUV redefines space generously, with its long wheelbase that affords it a third row for two additional seats, all while maintaining comfortable legroom and headspace.

Powering the GLB 200 AMG Line available here is a 1.3-liter inline four-cylinder engine that spits out 163hp alongside 250 lb-ft of torque (from just 1,520rpm). Such hefty torque coming in at lower revs allows for some sprightly driving — with good takeoffs from complete stops, and great responsiveness when an extra push is needed for highway passing, merging and even high-elevation climbing.

Among my favorite of the drive features found in this vehicle is the Mercedes-Benz Dynamic Select — which basically offers different drive programs to the user, depending on the type of car behavior desired for the moment. Choices include Sport, Comfort and Eco. And based on the selection, the car instantaneously adjusts the settings of its engine, transmission, chassis and steering to adapt to the driving style associated with those options.

Inside the polished cabin are black Artico Dinamica microfiber seats, and 560 liters of luggage space with all the seats upright. If the third-row seats are collapsed, a generous 1,680 liters of maximum storage space is available.

And consistent with the other latest Mercedes-Benz vehicles, you now get to enjoy your own in-car personal assistant! The Mercedes-Benz User Experience (MBUX) is a special treat of modern in-car technologies and, of course, includes the standard Apple CarPlay and Android Auto compatibility. A seven-inch touchscreen is at the center of the dash, and this screen may also be controlled via an ergonomic touchpad on the center console, or through steering wheel shortcut buttons or simple language commands, if you prefer.

Moreover, Mercedes-Benz has always been at the forefront of safety. Included in the safety features of the GLB are retractable headrests, seat belts with belt tensioners, a side window air bag (which also protects the third-row passengers), and ISOFIX attachment points. Also available are top-tether anchorages for compatible child seats, as this vehicle can accommodate up to four child seats in the rear.

Part of the GLB’s Mercedes-Benz Intelligent Drive features are adaptive brake lights that flash when necessary, brake assist for emergency braking situations, and a parking package that includes a nice reverse camera and active parking assistance.

The AMG Line package includes 19-inch twin-spoke light alloy wheels, side skirts in its body color, polished aluminum roof rails, and AMG’s distinguishable body styling.

The GLB will be shipped from the Mercedes-Benz factory in Aguas Calientes, Mexico. Its purchase comes along with a two-year unlimited warranty that may be upgraded to extended warranty if desired. Its purchase price starts at P3.79 million.

Peso to strengthen ahead of budget balance data

THE PESO is expected to appreciate this week as investors await the release of July budget balance data.

The local unit closed at P48.68 against the dollar on Thursday, weakening by 10.5 centavos from its Wednesday finish, data from the Bankers Association of the Philippines showed.

Despite this, the peso was stronger by three centavos from its P48.765-per dollar close on Aug. 14. Markets were closed on Friday for Ninoy Aquino Day.

Market sentiment was affected by statements from the US Federal Reserve regarding the continued impact of the coronavirus disease 2019 (COVID-19) on the economy, said Rizal Commercial Banking Corp. Chief Economist Michael R. Ricafort.

Reuters reported that the Federal Open Market Committee, in its minutes of its July meeting, said the “substantial improvement” of the situation will be dependent on “broad and sustained” reopening of the economy.

“Noting the increase in uncertainty about the economic outlook over the inter-meeting period, several participants suggested that additional accommodation could be required to promote economic recovery…,” the minutes said.

Meanwhile, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said while domestic demand for the dollar remained muted, corporate buying affected the peso’s strength on Thursday.

“[This] week seems light in terms of data so month-end flows might play a factor in [this] week’s trading,” Mr. Asuncion added.

Another key catalyst for currency trading this week is the release of the budget balance data for July, said Mr. Ricafort.

The government posted a P1.8-billion budget surplus in June, reversing the P41.8-billion deficit a year ago, latest data from the Bureau of the Treasury showed.

In the first half of the year, the budget deficit surged 1,214% to P560.4 billion from the P42.6-billion gap in the same period of 2019. This, as pandemic-related expenses ballooned amid lower tax collections.

The July budget balance data will be released on Tuesday, Aug. 25.

For this week, both Mr. Ricafort and Mr. Asuncion expect the peso to move within P48.50 to P48.80 versus the dollar. — L.W.T. Noble with Reuters

Local execs charged for cash aid graft

MORE THAN 400 people were charged for corruption involving state subsidies to the poor — the biggest in the country’s history — amid a coronavirus pandemic, the Interior and Local Government department said on Sunday.

Corruption charges were filed against 203 local government officials, 102 village and city staff and 132 civilian co-conspirators, Interior Secretary Eduardo Año said in a statement.

“It’s so frustrating that they managed to steal money from aid reserved for people severely affected by the pandemic,” he said in Filipino.

Most of the respondents face charges involving graft and violations of the so-called Bayanihan to Heal as One Act and a law on reporting communicable diseases.

Mr. Año said police had also investigated 336 cases and filed 240 complaints at the Justice department. Police are probing 626 more officials, he added.

Fifty of the cases were filed in the Soccsksargen region in Mindanao, 40 in Western Visayas, 33 in Central Visayas, 30 in the Calabarzon region, 26 in Eastern Visayas, 24 in the Davao region and 21 in Metro Manila.

There were also 16 cases in the Bicol region, 14 in the Southwestern Tagalog region, 15 in Ilocos, 14 in Cagayan Valley, 12 in Northern Mindanao, 12 in the Caraga region, 10 in the Cordillera Administrative Region and two in the Bangsamoro Autonomous Region in Muslim Mindanao.

The Bayanihan Act, which took effect on March 24 and expired on June 24, allowed President Rodrigo R. Duterte to realign this year’s budget for anti-coronavirus measures.

About 18 million poor families were supposed to get an emergency cash aid worth P5,000 to P8,000 for two months, when much of the country was locked down to contain a coronavirus pandemic.

It also compensated public and private health workers at risk of getting infected with the virus.

The Finance department earlier noted that of the cash aid beneficiaries, 4.3 million were also recipients of the P2,150 average monthly subsidy under the government’s conditional cash transfer program.

It estimated that about P97.4 billion was needed monthly to finance the subsidy, or almost P200 billion for two months, plus administrative costs worth P5.1 billion.

Distribution of the cash aid was marred by corruption, with some local governments accused of creating fictitious beneficiaries and favoring certain families. People had also complained of the lengthy application and approval process.

Lawmakers later passed the second part of the law that gave Mr. Duterte similar powers and created another fund for poor families.

The Interior department earlier filed complaints against 50 village officials from among those being investigated and sought their preventive suspension, the agency said.

“Our fight against corruption is as strong as our fight against COVID-19,” Mr. Año said in Filipino. “It’s difficult to suppress it but we won’t stop until the corrupt are punished.”

He lauded police efforts in investigating 336 cash aid-related cases nationwide and the public for filing complaints at various police stations.

“While we continue to distribute the second tranche of the social amelioration package, we are actively filing cases against corrupt officials and their co-conspirators,” Mr. Año said.

Finance Secretary Carlos Dominguez III earlier said the P200-billion cash aid program under the first law was the biggest direct financial assistance program given by the government to Filipino families in the country’s history.

This was in keeping with Mr. Duterte’s order to give top and urgent priority to providing a lifeline to Filipino families hit hardest by the pandemic that has brought the economy to a virtual standstill.

The Philippines entered into a recession after economic output shrank by 16.5% in the second quarter.

More than seven million Filipinos were jobless amid a coronavirus pandemic in April, driving up the country’s jobless rate to a 15-year record.

The unemployment rate quickened to 17.7% from 5.1% a year earlier, according to the statistics agency.

The 7.25 million jobless Filipinos in April were about three times more than the 2.27 million unemployed people a year earlier.

Underemployed Filipinos — those already working but still looking for more work — also rose to 6.39 million from 5.61 million a year earlier, pushing the underemployment rate to 18.9% from 13.4%.

By sector, services made up the largest share of the employed population at 57.1% in April. Industry accounted for 17% and agriculture 25.9%. — Norman P. Aquino

COVID-19 cases near 190,000; 2,998 dead

THE Department of Health reported 2,378 new coronavirus infections on Sunday, bringing the total to 189,601.

The death toll rose to 2,998 after 32 more patients died, while recoveries increased by 16,459 to 131,367, it said in a bulletin.

Metro Manila had the most number of new cases at 1,022, followed by Cavite with 132 cases, Laguna with 128, Rizal with 115 and Cebu with 96, the agency said.

The Philippines has the highest number of total and active cases in Southeast Asia.

Meanwhile, more than 250 overseas Filipino workers (OFW) from Uzbekistan arrived at the weekend amid a coronavirus pandemic that has sickened 23.4 million and killed more than 808,000 people worldwide, according to the Department of Foreign Affairs (DFA).

This brought the total beneficiaries of the government’s repatriation program to more than 145,000 since February, DFA said.

This was the first time a chartered flight was used to bring home 257 Filipinos from Uzbekistan, the agency said in a statement on Saturday night.

“To understand the importance of this flight is to be reminded of the difficult conditions under which this special flight was mounted,” Foreign Affairs Undersecretary Sarah Lo Y. Arriola said.

The Philippines does not have an embassy or honorary consulate in Uzbekistan, where there is also a total lockdown and commercial flights were prohibited, she said.

The department said it helped 9,505 overseas Filipinos (OFs) come home in the past week, majority of whom worked in the Middle East.

“The DFA flew home 7,787 OFs from the region through 25 special commercial repatriation flights and 3 DFA-chartered flights,” it said in a separate statement. It also brought home FIlipinos from Kenya, Egypt and Angola.

Meanwhile, the Senate labor committee will continue on Tuesday its inquiry on issues affecting OFWs during the pandemic. Senator Emmanuel Joel J. Villanueva said the hearing would focus on government plans to reintegrate displaced workers and their job prospects in the Philippines.

“As the repatriation of our OFWs continue, reintegration strategies should be simultaneously implemented so they have alternative means of livelihood,” he said in a separate statement on Sunday.

Officials from the Inter-Agency Task Force, Department of Health and Department of Labor and Employment are expected to attend the hearing.

Lawmakers have pushed for an P820-million budget for DFA’s Assistance-to-Nationals fund under the proposed Bayanihan to Recover as One Act. — Vann Marlo M. Villegas and Charmaine A. Tadalan

Police reject calls for Duterte-led revolutionary gov’t

POLICE on Sunday rejected calls for a revolutionary government, saying they would uphold the 1987 Constitution.

“We are under the rule of law,” police spokesman Bernard M. Banac told DZBB radio. “It’s important that we obey the Constitution.”

Last week, a group that calls itself the Mayor Rodrigo Roa Duterte-National Executive Coordinating Committee urged the President to lead a revolutionary government.

The government will last until the end of next year until the Constitution is amended for a shift to a federal government by 2022.

National Police Chief Archie F. Gamboa last week said he received an invitation to a meeting of the group about the revolutionary government.

Mr. Banac said the police would monitor the group for any potential unlawful acts.

The presidential palace said the group’s call for a new form of government was not a priority of Mr. Duterte, who is focusing on the coronavirus pandemic.

“The call to establish a revolutionary government came from a private group and the organizers are free to publicly express their opinion,” Presidential Spokesman Harry L. Roque said in a statement.

“It is an idea which is pregnant with repercussions, not the least whether or not the forces of society are ready for it,” Salvador S. Panelo, Mr. Duterte’s chief lawyer, said in a separate statement.

“If it is a workable concept, it may be late in the day. Moreover, the call of a revolutionary government must come from the people and not from a single organization or an individual,” he added. — Gillian M. Cortez

Regional Updates (08/23/20)

GenSan contact tracers

A contact tracing team — composed of local police officers and members of the barangay health emergency response — on their way to a neighborhood in Barangay Bula, General Santos City where two residents tested positive for the coronavirus last week. The barangay was placed on lockdown. The city has one of the lowest coronavirus cases among major urban areas in the country, with a total of 53 as of Aug. 20, including 46 recoveries and no deaths among confirmed patients.

Tacloban reimposes ban on gatherings, liquor after new cases traced to parties

THE TACLOBAN City government reimposed the ban on social gatherings as well as the sale and consumption of alcoholic drinks starting Saturday after new coronavirus cases were traced to parties. “Taclobanons are advised to avoid social gatherings (parties) as this has been found out to be one of the causes of the spread of this deadly virus,” the local task force on coronavirus disease 2019 (COVID-19) said in a statement following a meeting Saturday morning. Mayor Alfred S. Romualdez issued a new executive order containing the prohibitions that will be in effect from Aug. 22 until lifted. “All forms of assemblies, social gatherings… public and private events, and parties are temporarily prohibited… The selling, buying, possession, or consumption of liquor within the City of Tacloban shall be prohibited for the duration of this order,” the order states.

BACK TO GCQ
The local government is also awaiting approval from the regional COVID-19 task force to revert the city, which has been under the most loose quarantine category, to the stricter general community quarantine (GCQ) level from Aug. 24 to Sept. 8. Tacloban is the regional center of Eastern Visayas. Under the national task force guidelines, mass gatherings are prohibited in an area under GCQ. “Mass gatherings such as but not limited to, movie screenings, concerts… and other entertainment activities, community assemblies and non-essential work gatherings shall be prohibited.” Religious gatherings are limited to not more than 10 persons. As of Aug. 22, Eastern Visayas had 2,184 coronavirus cases, with 839 active and 1,333 recoveries. The region saw daily record high increases last week at over 100 on more than one day. Latest data released Saturday evening showed 132 new cases for the day, with Catbalogan City having the highest at 80 which are all local transmissions. Tacloban had the second highest total for the day at 12, majority of which are close contacts of confirmed patients or health workers.

How many contacts to trace per positive patient? GenSan’s cases show it’s more than 37

THE GENERAL formula set by the national task on COVID-19 for contact tracing is 37 people per positive patient as recommended by Baguio Mayor Benjamin B. Magalong, the appointed contact tracing czar for the crisis response.

But case histories for contact tracing activities published by the General Santos City government show the affected circle of people is usually higher — oftentimes double — that average. A healthcare frontliner, for example, who tested positive last week, had 86 direct contacts and 68 2nd level contacts. Contact tracing teams were still working on the 3rd and 4th level contacts as of Saturday.

Here’s a record for a 43-year-old male patient who had 74 direct and second-level contacts:

Nationwide round-up

Push to amend air passengers’ bill of rights ‘untimely’

THE PUSH to expand the rights of air passengers amid such unforeseen circumstances as the global coronavirus pandemic is untimely, an industry expert said.

“I think this is untimely and unreasonable. The airlines have been suffering already due to the pandemic. They are losing heavily and have been asking the government for regulatory leniency by way of support,” Philippine aviation industry expert Avelino D.L. Zapanta said in an e-mailed reply to questions on Aug. 21.

Mr. Zapanta, a former Philippine Airlines chief executive officer and president,  said requiring the airlines to assume additional responsibilities could “become the last nail in their coffin.”

Civil Aeronautics Board (CAB) Executive Director Carmelo L. Arcilla said last week the airline regulator is considering expanding the rights of travelers as part of a plan to amend the air passengers’ bill of rights.

“Ang air passengers’ bill of rights natin ay muli nating pinag-aaralan, kasi maraming bagay dyan na dapat sigurong i-revise para maging relevant sa mga current developments (We are reviewing the air passengers’ bill of rights, as there are many things that we may need to revise to make them relevant to current developments),” Mr. Arcilla said in an online briefing last week.

He added that under present rules, airlines have limited responsibility to passengers in case flights are canceled due to force majeure.

Officials of Philippine Airlines, Cebu Air, Inc., and Philippines AirAsia, Inc. said in early July that they were hoping for the prompt passage of the P1.3-trillion stimulus package, known as ARISE (Accelerated Recovery and Investments Stimulus for the Economy).

The proposed measure allocates about P70 billion to aid the transportation sector this year.

The bill was approved by the House of Representatives in June but its counterpart measure is still awaiting committee-level approval at the Senate.

A separate legislation, the Bayanihan to Recover as One Act bill, provides P9.5 billion to various programs under the Department of Transportation. The measure worth up to P165 billion secured approval of the bicameral conference committee last week.

In May, the Air Carriers Association of the Philippines appealed to Congress that the aviation industry might need around P8.6 billion per month to help them survive the crisis.

Their proposal involves P1.3 billion in wage subsidies, P500 million in foregone fees due to the government, and P6.8 billion in working capital.

Airlines have started to lay off employees, with the flag carrier cutting 300 jobs in February after reporting losses in 2019. AirAsia Group was expected to reduce its workforce in the Philippines by 12%, while Cebu Pacific is looking at 800 jobs cut this month. — Arjay L. Balinbin 

Business community applauds high court ruling on warrantless searches, arrests

BUSINESS GROUPS lauded the Supreme Court for upholding in a recent decision that warrantless searches and seizures by authorities is illegal.

“We thank the Court of delivering a message that no citizen should be deprived of his personal liberty based on unlawfully obtained evidence, such as in an illegal search or a warrantless arrest,” read the joint statement of 11 business groups.

“The business community is highly encouraged by the Court’s determination to uphold the rule of law over the rule of men,” it said.

They also called on the government sector and citizens to be “watchful and to help ensure that constitutional rights are always protected” and to hold accountable those who violate these rights.

The signatories were the Financial Executives Institute of the Philippines, Institute of Corporate Directors, Institute for Solidarity in Asia, Investment Houses Association of the Philippines, Judicial Reform Initiative, Makati Business Club, Management Association of the Philippines, Shareholders Association of the Philippines, American Chamber of Commerce of the Philippines, Canadian Chamber of Commerce in the Philippines, and European Chamber of the Philippines.

The Supreme Court ruling involved the acquittal of Jerry Sapla from drug charges on ground of reasonable doubt.

His immediate release was also ordered by the country’s highest court.

The court, in its decision, asserted that law enforcers cannot act based solely on confidential or tipped information in situations involving warrantless arrest.

“A tip is still hearsay no matter how reliable it may be” and that it is not sufficient to constitute probable cause, the judges said.

The ruling also said that the warrantless search conducted on Mr. Sapla “was an invalid and unlawful search of a moving vehicle.”

“A battle waged against illegal drugs that tramples on the rights of the people is not a war on drugs; it is a war against the people,” the court said.

“The Bill of Rights should never be sacrificed on the altar of convenience. Otherwise, the malevolent mantle of the rule of men dislodges the rule of law,” it added.

Mr. Sapla was arrested in January 2014 after four bricks of marijuana leaves were found in his vehicle.

Authorities flagged his passenger jeepney based on an anonymous call and text message on the transport of marijuana in the province of Kalinga. — Vann Marlo M. Villegas

POEA orders recruitment agencies to assist stranded workers

THE PHILIPPINE Overseas Employment Administration (POEA) has ordered recruitment agencies to assist workers whom they have already processed for placement abroad but have been stranded due to the lockdown.

A POEA resolution dated Aug. 20 directs the private agencies to provide the affected workers temporary accommodation, food, and transportation for returning to their home provinces. They are also called to shoulder the cost of the coronavirus test, which is required by most local governments for returning residents.

“The Administration has received an alarming increasing number of reports concerning locally stranded overseas employment applicants who were either abandoned, neglected, or otherwise evicted by private recruitment agencies from their accommodation houses and were left unattended with very little to no means for securing sustenance and basic provisions,” reads the POEA resolution.

The agencies are required to submit a report on the status of the affected workers and applicants’ to the POEA’s Welfare Services Branch.

The POEA said agencies that fail to comply with the resolution will face documentary suspension and other administrative charges. — Gillian M. Cortez

BI tightens screening of incoming foreigners

THE BUREAU of Immigration (BI) has directed its officers in airports and other ports to tighten the screening of foreigners claiming that they are married to a Filipino to gain entry into the country.

Immigration Commissioner Jaime H. Morente said his order came following reports that some foreigners were able to enter the country by presenting fraudulent marriage certificates.

The government recently eased restrictions on foreigners, allowing those who are spouses of Filipinos or those who have minor Filipino children or children with special needs to enter the country.

“I have ordered our frontline officers at the ports to be doubly strict in screening foreigners alleging that they are married to Filipinos or have Filipino children here. It is not enough that they have entry visas, marriage and birth certificates in their possession,” Mr. Morente said in a statement.

The BI will run after the foreigners who entered the country with fake certificates, he added.

Two South Koreans were denied entry at the international airport in Cebu on Aug. 17 for presenting scanned copies of fake marriage certificates. — Vann Marlo M. Villegas

Senate bill seeks to help gov’t banks lend more

A BILL has been filed in the Senate proposing to expand government financial institutions’ (GFIs) capacity to grant loans to enterprises hit by the pandemic.

Senate Bill No. 1646, also known as the “GFIs Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE)” bill, will cover the Philippine Guarantee Corporation (PGC), Development Bank of the Philippines (DBP) and the Land Bank of the Philippines (LANDBANK).

The GFIs “must expand their credit programs to assist affected MSMEs (micro, small and medium-sized enterprises) and strategically important industries in meeting their liquidity needs,” Senator Maria Imelda Josefa R. Marcos, who chairs the economic affairs committee, said in the bill’s explanatory note.

The bill authorizes the PGC to increase the maximum loan guarantee coverage per borrower to benefit MSMEs as well as ease its rules and regulations. The PGC was also tasked to prioritize businesses and MSMEs severely affected by the crisis.

It also creates a PGC trust fund, worth P20 billion.

The Luzon-wide lockdown starting mid-March, which was intended to contain the spread of coronavirus disease 2019 (COVID-19), led to the shutdown of businesses and suspension of transportation.

“Enterprises, MSMEs or large enterprises, were heavily impacted by the disruption in travel and transport of goods and services because of the COVID-19 outbreak,’ Ms. Marcos also said.

The DBP will be tasked to provide an interest-free loan program to MSMEs, particularly those in the services, manufacturing and infrastructure. This will be payable within 3-5 years.

The DBP may also rediscount loans and other credit accommodations to such enterprises, granted by the Small Business Corp. and financial institutions supervised by the central bank. This also covers credit programs offered by the Department of Agriculture-Agricultural Credit Policy Council (DA-ACPC).

LANDBANK will also introduce interest-free loans under the bill, payable within 3-5 years, and rediscount loans to MSMEs.

The bill also appropriates P15 billion and P35 billion to the DBP and LANDBANK trusts, respectively, bringing total funding to P70 billion.

The measure incentivizes the DBP and the LANDBANK via exemptions from the documentary stamp tax and capital gains tax, among other taxes imposed in implementing the loan assistance program and rediscounting.

The GFIs will also be entitled to fee privileges, such as 50% of the filing fees for any foreclosure and 50% of the land registration fees, in lieu of other applicable fees.

The measure is among the bills being pushed to assist financial institutions during the pandemic. Its counterpart measure, House Bill No. 6795, has so far obtained committee approval.

The House version also creates a special holding company that will rehabilitate affected companies. It will also need P55 billion worth of funding.

Congress has so far sought to provide a P39.4-billion capital infusion to GFIs, under the Bayanihan to Recover as One bill. Of this, P5 billion will go to credit guarantee programs; and P18.4 billion and P6 billion to the LANDBANK and DBP, respectively, for low-interest loans.

Some P24 billion will be provided as direct cash or loan interest rate subsidies for programs under the DA-ACPC. — Charmaine A. Tadalan

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