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Robinsons Malls to reopen in GCQ areas by May 1

By Denise A. Valdez
Reporter

ROBINSONS Malls will start reopening in areas that will be downgraded to a general community quarantine (GCQ) this Friday, a top executive of the company said.

Robinsons Land Corp. (RLC) Senior Vice-President Arlene G. Magtibay said in an e-mail on Sunday some Robinsons Malls are preparing to resume operations by May 1.

“Robinsons Malls will open its malls in the areas that will be placed under general community quarantine (GCQ) on May 1 and follow the guidelines set by the national and local governments,” she said. “Currently, we are awaiting the re-opening guidelines from the different local government units.”

RLC is the second largest mall operator in the Philippines with 52 malls across Luzon, Visayas and Mindanao. Nine of these are in Metro Manila and 43 are in other urban areas.

While the enhanced community quarantine (ECQ) in Greater Metro Manila and select regions across the country will remain until May 15, several areas classified as low-risk or medium risk will observe a GCQ after April 30.

The Inter-Agency Task Force (IATF) monitoring the COVID-19 (coronavirus disease 2019) situation recommended several areas to be put under a GCQ, but other areas are still for evaluation in the next days.

For Robinsons Malls that will be reopening, Ms. Magtibay said the company will continue to implement existing sanitation and safety protocols and introduce new measures to mitigate the spread of the virus.

Among these is a one-meter social distancing rule at mall entrances, guided by markers that will be mounted on floors. Mall goers will be checked for their body temperature, required to wear face masks, and asked to walk through a disinfecting mat to sanitize their footwear.

Benches and other mall seating inside the mall will also be marked to maintain social distancing. Escalators will implement a three-step gap for each rider and elevators will limit the number of persons per ride.

Guards will also be roaming around the mall to disperse crowds and prohibit small gatherings to uphold social distancing.

High-contact surfaces like escalator handrails, elevator buttons, door handles, railings and parking cards will be regularly disinfected. Restrooms and dining areas will also be frequently cleaned.

Tenants will be required to have alcohol or sanitizer for mall goers entering their respective stores. A one-meter gap for queuing customers will be implemented, and store personnel will be asked to wear face masks and do a temperature screening every day.

In the draft proposal on mall operations by the IATF, mall goers are limited to those aged 21 to 59 and to present their identification cards and “not look sickly.” The number of people inside every mall is also proposed to be limited.

The proposal also wants an increase in air-condition temperature to 26 degrees Celsius and removal of free WiFi access to avoid lingering of mall goers.

RLC gets the biggest chunk of its revenues from mall operations, which reached P13.25 billion or 43% of its total P30.58 billion revenues in 2019. Its net earnings last year increased 6% to P8.69 billion.

Shares in RLC at the stock exchange were lower by 10 centavos or 0.64% to P15.50 each on Friday.

SEC warns investors of new schemes

THE Securities and Exchange Commission (SEC) continues to discover more groups that offer investment schemes to the public without proper licenses from the regulator.

Three new advisories were posted on the SEC website against groups with the following names: OnlineBiz or OnlineBiz E-Commerce; Accelerare, Accelerare PH, Accelerare Main PH, Accelerare Care Trading, or Accelerare Forex Trading; and Legit Payout or Legit Pay Out.

These three, the SEC said, are not registered with the commission and do not have the secondary authorization required for companies to solicit investments from the public.

People are advised to “exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of said (entities).”

The SEC said OnlineBiz operates by offering a “business opportunity” which requires a minimum investment of P19,000 and guarantees a P5,000-P50,000 earning every week. The scheme also promises insurance and free travels for investors.

The regulator noted the scheme OnlineBiz employs is similar to that of Elite Entrep Blue Print, which it had previously warned the public against. It said it might be the same group as the Facebook page of OnlineBiz also carries the name Elite Entrep Blue Print in its posts.

“The public is hereby informed that OnlineBiz/OnlineBiz E-Commerce is not registered with the commission and is not authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments…,” it said.

In the case of Accelerare, the SEC said the scheme involves getting loan investors to fund the business venture’s needs in car trading and foreign exchange trading. An investor is promised passive income through interest or payout of capital, and active income through recruitment bonuses.

“It must be clear that entities engaged in such activities (high rates of return with little to no risks) likely tend to disappear shortly to the prejudice of their stakeholders… [T]he commission encourages the public to be prudent in making or placing their monies on these entities especially during this pandemic,” it said.

Legit Payout similarly promises a “ridiculous rate of return with little or no risk,” enticing the public to invest as low as P1,000 in exchange of a 60% return of investment on top of the money invested within two weeks.

The SEC said the group is not authorized to do this, as it is not registered with the commission and does not have the secondary license needed to solicit investments.

For violation of the Securities Regulation Code, the SEC said persons behind these groups may be penalized with a fine of up to P5 million, or imprisonment of up to 21 years, or both. — Denise A. Valdez

SMC to pay nearly P12-B gov’t dues to help virus fight

SAN MIGUEL Corp. (SMC) will continue to pay P11.67 billion to the government in tax, concession and contractual payments to support the national fund in addressing the coronavirus disease 2019 (COVID-19) pandemic.

In a statement Sunday, the listed conglomerate said it was committing to give the money to the government despite an amnesty offer “to make available funds needed to respond effectively to the challenges of the pandemic.”

“[W]e remain steadfast in our commitment to assist government and continue providing assistance where it’s most needed,” SMC President and Chief Operating Officer Ramon S. Ang said in the statement.

SMC said it had paid P8.77 billion to the government, and the remaining P2.9 billion will be given before the enhanced community quarantine is lifted.

The government said last week spending in relation to the COVID-19 pandemic had reached P352.7 billion, or 88.8% of the P397 billion in capital outlays it planned to tap from the 2020 budget. President Rodrigo R. Duterte had said the government might sell state-owned properties should the need arise to support spending.

Aside from government payments, SMC will also keep giving full-time pay to its employees and extended workforce while the enhanced community quarantine is in place. More than P3 billion in full compensation with benefits have already been disbursed to 66,557 SMC employees, consultants and contract workers, it said.

“These are trying times and while we, as a company, are not immune to the challenges of this crisis, the safety and security of our workforce will always come first. We do not want them worrying about their jobs,” Mr. Ang was quoted as saying.

The San Miguel group said last week it had so far donated P1.15 billion to communities and frontliners in the form of cash, food, alcohol, fuel, free toll and personal protective equipment.

SMC booked P48.57 billion in earnings in 2019, flat from a year ago, amid lower sales from its oil and food business segments. Its shares at the stock exchange slipped 75 centavos or 0.77% to P97 apiece on Friday. — Denise A. Valdez

Governance report deadline extended

PUBLICLY listed companies are given a two-month extension to file their Integrated Annual Corporate Governance Report (I-ACGR) amid the enhanced community quarantine in Greater Metro Manila.

The Securities and Exchange Commission (SEC) said in a recent notice on its website it is allowing the submission of I-ACGR for publicly listed companies until July 30, two months from its original May 30 deadline.

The Philippine Stock Exchange, Inc. (PSE) made the same announcement on its website, noting the deadline extension will apply automatically without the need to submit a request.

But should companies prefer to submit their I-ACGR on the original May 30 deadline, the PSE said they may choose to do so.

“The leeway in complying with the reportorial requirements should allow companies to focus their efforts on coping with the impact of the COVID-19 pandemic and supporting our economy,” SEC Chairperson Emilio B. Aquino said in a statement over the weekend.

The SEC has been moving deadlines for regulatory submissions since last March, in consideration of companies that it said are challenged by the enhanced community quarantine to contain the coronavirus disease 2019 (COVID-19).

SEC Memorandum Circular No. 5 issued on March 12 extended the deadline for submitting 2019 annual reports and audited financial statements until June 30, and SEC Memorandum Circular No. 13 issued on April 21 extended the deadline for sustainability reports also until June 30.

“The resilience of the business sector is integral to the recovery of our economy,” Mr. Aquino said.

On Friday, the government extended until May 15 the enhanced community quarantine in Metro Manila, Central Luzon, Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) and other areas across Luzon, Visayas and Mindanao including Cebu, Iloilo and Davao.

Other areas that are deemed “low-risk” and “moderate risk” will be downgraded to a general community quarantine. — Denise A. Valdez

COVID-19’s economic impact to be tackled in BUSINESSWORLD INSIGHTS online forum on April 29

THE coronavirus pandemic sent a wave of uncertainty all over the business world. Talks of a recession worse than that of 2008 alongside volatile markets are forming an environment of fear and paranoia. When the dust of the pandemic settles, what will happen to the Philippine economy?

Aiming to provide a comprehensive and in-depth answer to that question, BusinessWorld, the country’s premier business paper, will be holding the first leg of BUSINESSWORLD INSIGHTS online forum series on April 29, 2020 at 11 a.m.

Under the first phase of BUSINESSWORLD INSIGHTS with the theme “Laying Out the Macro Scenario for Businesses Amid COVID-19”, the first leg, “Assessing the Coronavirus Pandemic’s Impact on the Philippine Economy”, will discuss COVID-19’s short-term and long-term economic implications.

Confirmed speakers are Souleymane Coulibaly, World Bank Group lead economist and program leader for equitable growth, finance and institutions practice group for Brunei, Malaysia, Philippines and Thailand; Benedicto C. Yujuico, Philippine Chamber of Commerce and Industry president; and Calixto V. Chikiamco, Foundation for Economic Freedom president and co-founder. It will be moderated by Wilfredo G. Reyes, BusinessWorld editor-in-chief.

The online forum series, scheduled every Wednesday, 11 a.m., will be shown live in BusinessWorld’s (facebook.com/BusinessWorldOnline) and The Philippine STAR’s (facebook.com/PhilippineSTAR) Facebook pages and will be uploaded in BusinessWorld’s website (www.bworldonline.com).

BUSINESSWORLD INSIGHTS seeks to give the Philippine business community a better outlook on the impact of the coronavirus pandemic on the economy and help the country prepare for post-COVID recovery by bringing in high-caliber speakers and experts to hold an intelligent online discussion, moderated by BusinessWorld editors.

Upcoming legs will discuss “Understanding the ‘New Normal’ for Businesses after the COVID Crisis” on May 6; and “COVID-19 and The Philippine Stock Market: Uncertainties and Opportunities” on May 13.

BUSINESSWORLD INSIGHTS is made possible by sponsors Megaworld Corp. and Globe Telecom, Inc.; eLearning platform partner Olern; partner organizations Management Association of the Philippines, Philippine Chamber of Commerce and Industry, Philippine Association of National Advertisers, and Bank Marketing Association of the Philippines; and media partner The Philippine STAR.

For more information, contact Shai Cordero at 09979954734 or smcordero@bworldonline.com.

NFA distributes 2.2 million bags of rice for COVID-19 relief efforts

THE NATIONAL Food Authority (NFA) said it released around 2.2 million bags of rice from its inventory for relief operations since the implementation of the enhanced community quarantine (ECQ).

Between March 16 and April 16, around 1.9 million bags of NFA rice were released to local government units (LGUs), 94,413 bags to the Department of Social Welfare and Development (DSWD), 86,655 bags to legislators, and 90,946 bags to other institutions involved in relief operations.

About 1.2 million bags were released in Luzon, followed by the Visayas with 631,460 bags, and Mindanao with 350,537 bags.

NFA Administrator Judy Carol L. Dansal said the agency is operating on weekends and holidays during the lockdown to ensure continuous buying operations from farmers as well as a readily-available supply for end-users.

“Starting March 16, NFA’s market participation had increased from 10% to as high as 17% as LGUs, the DSWD, legislators and other relief institutions chose to buy our lower-priced good quality NFA rice for distribution to families affected by the ECQ,” Ms. Dansal said.

The NFA increased its palay procurement and milling volumes to augment the national rice supply, in response to the extension of the ECQ period.

“We still expect high volumes of NFA rice withdrawals during the duration of ECQ until April 30 and beyond, as the threat of the coronavirus disease 2019 (COVID-19) infections continue. That’s why we also continue to replenish our rice stocks especially in areas with high incidence of infection,” Ms. Dansal said.

Under Republic Act 11203 or the Rice Tariffication Law, the NFA’s role was modified to focus it on domestic procurement and maintaining a rice buffer stock, which will be distributed during calamities and emergencies.

NFA rice is sold to local government units and relief agencies at P25 per kilogram. — Revin Mikhael D. Ochave

CCP realigns its programs to deal with the pandemic

IN LIGHT of the COVID-19 outbreak and enhanced community quarantine, the Cultural Center of the Philippines (CCP) has realigned its artistic programs with the aim of protecting lives and livelihoods, and deliver content to Filipinos on alternative platforms.

In a recent release, the CCP stated the following strategies to achieve its goals: “use alternative modes of engagement so that Filipinos continue to benefit from the educational, inspirational and healing properties of arts and culture”; “protect livelihoods in the arts and culture sector by continuing to employ artists in the alternative production and distribution platforms”; “invest in capabilities that equip artists and cultural workers to innovate on methods of production and distribution during the enhanced community quarantine and the post-COVID recovery period”; and, “collaborate with artists and companies to digitize content in order to create new markets and new job opportunities in the arts.”

Programs will be prioritized under the following categories: Arts and Culture Online, Live Arts on Lockdown, Arts for Therapy, and Capacity Building.

For Arts and Culture Online, this month the CCP began making HD and archival recordings of events from its Cultural Content Digital Archives available online on its YouTube channel.

For its third and fourth week, the following programs will be on CCP Online (all the shows will premiere at 3 p.m.):

Juan Miguel Severo’s Hintayan ng Langit, directed by Raffy Tejada for Virgin Labfest XI, will premiere on April 28.

The Philippine Madrigal Singers’ Tanghalan Naming Tahanan with choirmaster Mark Anthony Carpio will premiere on April 30.

The Ramayana-inspired ballet musical Rama Hari, a collaboration between National Artists Alice Reyes (choreography), Ryan Cayabyab (music), and Bienvenido Lumbera (libretto), premieres on May 2.

Ballet Philippines’ Firebird and Other Ballets premieres on May 5.

Carlo Vergara’s Kung Paano Ako Naging Leading Lady, directed by Chris Martinez for Virgin Labfest 9, premieres on May 7.

Triple Threats: Everything in Bituin, featuring actress-singer Bituin Escalante, premieres on May 9.

The shows will be on view for one week before they are replaced. (To watch, visit CCP’s YouTube channel at bit.ly/CCPOnlineYT.)

In a previous interview with BusinessWorld, CCP Vice-President and Artistic Director Chris B. Millado noted that other CCP events such as the Cinemalaya Philippine Independent Film Festival have been pushed back to 2021. The Luces: Festival of Light scheduled for September has been canceled. Meanwhile, the 32nd Gawad CCP Para sa Alternatibong Pelikula at Video will push through as an online short film competition, and the September Gala Show will be repurposed as a thanksgiving concert for frontliners. The CCP is also working on a time capsule to document the Arts in the Time of COVID-19 and Virtual Reality (VR) galleries and museums.

The Live Arts on Lockdown program will begin in June with the online production of the 2020 Virgin Labfest. The annual festival of new one-act plays will push through as originally scheduled from June 10 to 28, 2020.

Meanwhile, the Arts for Therapy Program will develop and implement modules on arts for mental wellness and pursue arts for healing activities. The Capacity Building program will provide training modules for artists and cultural workers in art therapy and online technology.

For updates, visit https://www.facebook.com/culturalcenterofthephilippines/ or www.culturalcenter.gov.ph. — MAPS

Capex cut, dampened sentiment pull down Ayala Land shares

By Carmina Angelica V. Olano
Researcher

INVESTORS sold off Ayala Land, Inc. (ALI) shares last week after the property developer’s decision to cut capital expenditures (capex) for the year because of overall market weakness brought about by the coronavirus disease 2019 (COVID-19) pandemic.

A total of 50.33 million ALI shares worth P1.53 billion were traded from April 20 to 24, data from the Philippine Stock Exchange (PSE) showed.

Shares in the Ayala-led real estate developer closed at P28.9 apiece on Friday, 8.4% lower than P31.55-per-share closing price a week ago. The stock has declined 35.6% since the start of the year.

“The company’s capex cut for 2020 mainly dragged ALI’s performance [last] week, as reflected with the 8.4% decline week-on-week. The dampened investor sentiment can also be seen with the significant net foreign outflow amounting to P437.7 million, with ALI being the second largest net foreign selling stock for the week, following SM Prime Holdings, Inc.,” said Charlene Ericka P. Reyes, officer-in-charge of trading and research at First Resources Management and Securities, Inc. in an e-mail.

“With the coronavirus pandemic expected to take a toll on Ayala Land’s financial performance this year, the company is seen to prepare for the worst as they slashed its capex by more than a third and postponed the launch of new projects and land acquisitions to ensure strong financial position throughout the crisis,” she added.

China Bank Securities Corp. Senior Research Associate Rastine Mackie D. Mercado shared a similar assessment, adding that investors have also priced in the impact of an extended enhanced community quarantine (ECQ) to its business.

“The downtick in capex is also likely to delay some pipeline developments which could lead to some impact on short- to medium-term revenue and profit expectations,” Mr. Mercado said.

“Moreover, it was made known on Friday that the ECQ will be extended for some parts of the country — so part of the uptick in trading [value] may be due to investors trying to price in this new development,” he added.

In its annual shareholder’s meeting on Wednesday, ALI announced to cut its 2020 capital expenditure by 36% to P70 billion from the original estimate of P110 billion as it focuses funds on essential expenditures and critical projects.

In the same meeting, ALI President and Chief Executive Officer Bernard Vincent O. Dy noted that many of its revenue generating businesses have been significantly affected by the ECQ with the company expecting a “major impact” on its performance this year from the ongoing pandemic, with a “high likelihood” of a spillover next year.

Since the ECQ, ALI has closed all its malls and resorts and some of its hotels and offices across the country, except for more than 90% of its spaces and nine out of 11 of its hotels, albeit on limited operations.

On Friday, President Rodrigo R. Duterte extended the ECQ until May 15 in Metro Manila, Central Luzon, Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon), among other areas.

“Earnings of the company is expected to be dragged down across its business segments, with the company estimating around P1.4 billion in recurring income forgone on mall closures, and the demand for office spaces and residential projects dented by the slowing economic growth,” First Resources’ Ms. Reyes said.

For China Bank Securities’ Mr. Mercado, ALI’s topline and bottom line growth is “likely to take a hit” in 2020 due to the ECQ’s impact on its retail and residential leasing businesses.

“[I]ts retail leasing business…may be further impacted due to the extension of the ECQ in some areas,” he said, referring to ALI’s previous decision to waive around P2.6 billion in rent condonation for merchants covering the 1.5-month ECQ.

Mr. Mercado also expects ALI’s residential business to slow since the firm said it would not be launching new projects this year. “Recall that around P125 billion in projects were set to be launched this year,” he said.

“The firm’s office space leasing business, however, remained a bright spot as ALI said that over 90% of its tenants remained operational. Overall, the recovery in the firm’s topline and bottomline growth is likely to be determined by continuing developments around the COVID-19 pandemic.”

ALI reported a 13.5% growth in its attributable net income to P33.19 billion in 2019 from P29.24 billion the year before. The double-digit profit growth comes even as revenues grew by just 1.8% to P168.71 billion.

“ALI may continue to trend sideways [this week]… navigating a range between P28.70 to P34.20,” China Bank Securities’ Mr. Mercado said.

First Resources’ Ms. Reyes said ALI’s share price has peaked its uptrend at P34.50. “Closing below P30.00 may trigger a possible sell-off as deep as the P25 to P26 range,” she said.

“We maintain our cautious stance for the property sector in general, especially that the market may continue to experience wild swings in the short-term. However, we think that ALI is currently trading with attractive valuations, thus long-term investors may accumulate in tranches,” Ms. Reyes added.

T-bill, T-bond rates likely to drop

RATES OF government securities on offer this week will likely decline on strong demand following the central bank’s liquidity boost.

The Bureau of the Treasury (BTr) will attempt to raise P20 billion via Treasury bills (T-bills) on Monday, broken down into P5 billion each for 91- and 182-day papers and P10 billion for 364-day papers.

On Tuesday, the BTr will auction off P30 billion of reissued two-year Treasury bonds (T-bonds) with a remaining life of one year and nine months.

A bond trader said the T-bills may fetch yields 10-20 basis points (bps) lower than the previous auction, while rates for the two-year bonds could settle between 3.15% and 3.25%.

Meanwhile for another bond trader, rates for the T-bills may decline by 15-20 bps while that for the two-year T-bonds could fall within the 3.1-3.25% range.

At the secondary market on Friday, yields on the three-month and six-month T-bills stood at 3.079% and 3.163%, while the one-year and two-year papers were quoted at 3.295% and 3.308%, respectively.

Last week, the Treasury upsized the volume of T-bills it awarded to P24 billion from its initial P20-billion plan as bids reached P80 billion and yields declined across-the-board.

It also raised another P10 billion in short-term papers via its tap facility.

Broken down, the government raised P7 billion in 91-day papers, more than the initial P5-billion offer, at an average rate of 3.113%, down 35.8 bps from the 3.471% fetched in the April 13 auction.

It also upsized its award of 182-day papers to P7 billion from the P5-billion plan as total tenders reached P21.125 billion. The six-month papers yielded an average rate of 3.239%, lower by 17 bps from 3.409% previously.

For the 364-day papers, the BTr fully awarded P10 billion as planned out of total bids worth P25.864 billion. The average rates for the one-year securities dropped 39 bps to 3.295% from 3.685% previously.

Sought for comment, Robinsons Bank Corp. peso sovereign debt trader Kevin S. Palma said investors will continue to park their funds in government securities following the Bangko Sentral ng Pilipinas’ (BSP) moves to boost liquidity.

“Both of the offerings are expected to be well-received as financial market players continue to put liquidity to work now that the effect of the monetary easing made during this crisis is now in full throttle,” he said in a Viber message on Saturday.

Meanwhile, the first bond trader said demand for the short-term papers will continue to be robust as markets react to effects of relief measures rolled out by governments here and abroad.

The BSP Monetary Board delivered a 50-bp off-cycle cut to bring the key policy rate or the overnight reverse repurchase rate to 2.75%. Following this, rates for the overnight deposit and lending facility have also been trimmed to 3.25% and 2.25%, respectively.

These rates are the lowest on record and also since the BSP shifted to an interest rate corridor in 2016.

The cut came less than a month after the 50-bp reduction fired off last month and the 25-bp cut in February, taking the total policy rate cut delivered this year to 125 bps, completely unwinding the 175 bps in hikes done in 2018.

The BSP also slashed the reserve requirement of universal and commercial banks by 200 bps earlier this month, with analysts projecting another 200-bp cut soon to boost liquidity.

Governments around the globe have unveiled economic stimulus packages to cushion the blow of the coronavirus disease 2019 pandemic.

Back home, the government rolled out a P205-billion direct cash aid program for the 18 million poorest families and a P51-billion wage subsidy program for employees of small businesses, among others.

The Treasury has set a P190-billion local borrowing program for April, broken down into P130 billion in Treasury bills and P60 billion in Treasury bonds. — Beatrice M. Laforga

Palay farmgate price up 4.7% in early April

THE FARMGATE price of palay, or unmilled rice, rose 4.7% week-on-week to P17.48 per kilogram in the first week of April, with prices down 6.5% year-on-year, according to the Philippine Statistics Authority (PSA).

In its weekly update on palay, rice, and corn prices, the PSA said that the average wholesale price of well-milled rice (WMR) rose 2.96% week-on-week to P38.59 while the retail price rose 2.19% to P42.40.

The average wholesale price of regular-milled rice (RMR) rose 2.39% to P34.14 while the average retail price rose 1.35% to P36.86.

The farmgate price of yellow corn grain rose 2.6% week-on-week to P12.23.

The average wholesale price of yellow corn grain rose 7.09% to P23.25 while the average retail price rose 1.55% to P25.50.

The farmgate price of white corn grain rose 8.9% to P15.

The average wholesale price of white corn grain rose 53.09% to P25 while the average retail price rose 13.38% to P30.50. — Revin Mikhael D. Ochave

WFH during the ECQ: KMC Savills’ Cha Carbonell, Gerold Fernando, and Michael McCullough

THE ongoing lockdown in the Philippine capital has prompted many companies to suddenly implement work from home (WFH) programs. But a few companies like real estate services firm KMC Savills had already been allowing some employees to work from home before the imposition of the enhanced community quarantine (ECQ), as long as key performance indicators (KPIs) were achieved.

“We’ve always had the option to do WFH with our sales team as long as they’ve hit their KPIs. Most of them are comfortable with the setup,” Cha Carbonell, KMC Savills executive director for transactions and advisory services, said in an e-mail interview with BusinessWorld.

Thanks to video chat technology, the team continues to hold meetings.

KMC Savills Managing Director Michael McCullough said they use Microsoft Teams for internal meetings and Zoom for client meetings.

“Zoom happens to be a client of ours so we’ve gotta show support,” he said.

Gerold Fernando, KMC Savills executive director for transactions and advisory services, said he’s glad for the extra hours gained from the WFH setup.

“The extra time enabled the team and our employees to complete trainings and online classes to improve in their craft,” Mr. Fernando said.

The KMC Savills discussed what it was like to work from home with BusinessWorld through e-mail interviews which have been lightly edited.

CAN YOU DESCRIBE YOUR HOME OFFICE?
Ms. Carbonell: It’s challenging though if you have kids at home. Overall, it works for us as most of our employees are acclimated with good internet and can work efficiently despite the new distractions of young family members.

Mr. Fernando: My office is virtually any part of the house that my WiFi can reach, as long as I have with me my MS Surface and my phone. I like to move around but for more formal business meetings, I take the call inside a quiet room.

WHAT DOES YOUR WORK DAY LOOK LIKE NOW?
Ms. Carbonell: Most days are office hours but some days I start late since it’s easier to work once it’s quiet. It’s more peaceful with less distractions for more focused work.

Mr. Fernando: The day itself starts at the same time but taking away the commute to the office means you can relax the pace. There is more time to enjoy the morning coffee and even cook breakfast.

ARE YOUR WORK HOURS EVEN MORE FLUID NOW THAN BEFORE?
Ms. Carbonell: We’ve had employees who respond to clients immediately despite time zone difference and we’ve always been flexible with time-zones and adjust it based on our client needs. There’s definitely more time for e-mails, paperwork and updating databases, upgrading processes and looking into how we can be more efficient as a team during the lockdown.

DO YOU HAVE BREAKS AT HOME?
Ms. Carbonell: Whether or not you have kids at home, it’s important to have breaks. In my case not so much watching TV but getting up and addressing domestic issues at home and paying attention to what your kids do. As a parent you don’t want to be physically present but mentally and emotionally absent for eight to nine straight hours a day. Facebook and LinkedIn are sites to visit intermittently throughout the day.

Mr. Fernando: If there is a big gap in between meetings, a few laps in the pool helps clear the mind and prepare for the next. And sometimes I play a quick online game with the kids.

WHAT’S YOUR WFH OUTFIT?
Ms. Carbonell: I put on a jacket, but I am always in my home clothes

Mr. Fernando: I put on comfy clothes — shorts and white T-shirt. Why a white T-shirt? A business shirt is easy to wear on top when you have a video call. Obviously, the shorts are kept since they’re not captured by the camera.

ANY INTERESTING STORIES FROM YOUR EXPERIENCE IN WORKING FROM HOME?
Ms. Carbonell: I am learning how to make face masks. I got a sewing machine. Sometimes I make doll clothes for my girls. It’s a good way for me to disconnect and to keep myself sane during the ECQ. With my group of friends, we’ve started a series of trivia nights through Zoom that keeps all of us entertained.

Mr. Fernando: I’ve learned to cook. Having limited access to restaurants and avoiding food deliveries gave me the motivation to make home cooked meals. I realized it is actually easier, especially when you have access to YouTube recipes.

WHAT IS THE MOST IMPORTANT LESSON YOU HAVE LEARNED FROM WORKING FROM HOME?
Mr. McCullough: Pretty sure the home office will be a future MUST HAVE in residential designs moving forwards. Whether luxury condos or mid-high end townhouses, the home office will be given it’s dedicated and much needed space and privacy.

Ms. Carbonell: Companies in the future will be more flexible with work arrangements of employees. Connectivity, measuring productivity, motivating your team and coming up with fun ways to keep connected and engaged are crucial things to consider in WFH setups. — Cathy Rose A. Garcia

Wilcon provides aid to frontliners

WILCON Depot, Inc. has extended support to healthcare workers by providing protective gear and transportation as the Luzon-wide enhanced community quarantine continues while the country struggles to contain the spread of the coronavirus disease 2019 (COVID-19).

“Through a collaboration with the Project Kaagapay: Protect our Healthcare Heroes, Wilcon has donated 16,000 personal protective equipment (PPE) and 60,000 face masks through GoNegosyo,” the home improvement and construction supply retailer said in a statement.

“The medical equipment will be distributed to different hospitals across Metro Manila that will help the brave frontline workers in minimizing the risk of exposure from the deadly virus,” it added.

Wilcon said that as the quarantine put on hold public vehicles, it donated bicycles through Go Negosyo to allow frontline workers to travel to get to work.

“The efforts of the company has already helped thousands of Filipino families and frontline workers with the initial donation of 20 million pesos to support ABS-CBN Lingkod Kapamilya Foundation and GMA Kapuso Foundation in their programs to help provide basic medical supplies for the health and safety workers as well as supply food and basic needs to poor families whose source of living has been affected by the enhanced community quarantine,” it said.

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