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Alphabet expects to complete probe of sexual misconduct claims by next month

THE BOARD of Google parent Alphabet Inc. expects to complete by next month an investigation into the company’s handling of sexual harassment and other misconduct complaints against current and former executives, according to a filing in state court last month.

Alphabet’s board formed a special litigation committee last spring after several shareholder groups filed lawsuits alleging that company directors breached their fiduciary duties by covering up sexual misconduct claims against two former top executives over the past five years.

Four of the lawsuits were joined together in June in Santa Clara County Superior Court in California, and Alphabet was expected to respond to the allegations by Nov. 8.

But Alphabet and the plaintiffs said in a joint court filing on Oct. 18 that because the internal investigation was expected to end by early December, they agreed to move the company’s response deadline to Dec. 13 so that it would have the findings from the investigation in hand.

The board committee is working with law firm Cravath Swaine & Moore, the filing said.

CNBC first reported the investigation on Wednesday, citing unspecified materials that showed an independent subcommittee of the board had retained an unnamed law firm to assist with the investigation.

Alphabet said in a statement to Reuters that its investigation had already been noted in the court filings.

“In early 2019, Alphabet’s board of directors formed a special litigation committee to consider claims made by shareholders in various lawsuits relating to past workplace conduct,” the company said.

The company declined to elaborate, and spokespeople for Cravath did not immediately respond to requests to comment.

It is unclear whether Cravath or the special litigation committee have interviewed any alleged victims, witnesses or accused executives, some of whom are no longer at Alphabet.

The investigation includes reviewing the behavior of Alphabet’s chief legal officer, David Drummond, who has been accused of having relationships with employees, CNBC said.

Drummond told news website BuzzFeed in August that he made some mistakes with one relationship he had with a colleague, but said that he had not started any other relationships with a co-worker.

The shareholders suing Alphabet directors and executives include individuals and various labor unions and pension funds, among which is the New York City Employees Retirement System. They have called for Alphabet to enact governance and oversight to stop future workplace conduct issues. They also call for Alphabet directors to pay damages to Alphabet for allegedly breaching their fiduciary duties and engaging in corporate waste.

The allegations stem primarily from large severance payments made to Andy Rubin, who led Google’s Android mobile operating division until 2014, and Amit Singhal, head of Google’s search unit until 2016. Company investigations into both men had found accusations of sexual harassment against them to be credible, according to the lawsuits.

Rubin and Singhal have disputed the allegations. — Reuters

Your Weekend Guide (November 8, 2019)

Cats the Musical at Solaire

THE latest international tour of the Olivier and Tony award-winning musical, directed by Dane Quixall and presented by David Ian Productions, opens this weekend at The Theatre at Solaire. The show stars Joanna Ampil as Grizabella. Cats runs until Dec. 1. For details visit www.catsthemusical.com. Tickets are available at TicketWorld (891-9999, www.ticketworld.com.ph).

Die Zauberflöte at St. Scholastica’s

ST. SCHOLASTICA’s College Manila School of Music and the Filipinas Opera Society Foundation Inc., in cooperation with Guang Ming College, present a production of Wolfgang Amadeus Mozart’s Die Zauberflöte (The Magic Flute) at St. Cecilia’s Hall in St. Scholastica’s College Manila. Juan Luis Muñoz will conduct the SSC Orchestra. Performances are scheduled on Nov. 8 and 12, 4 p.m., and Nov. 10, 3 p.m. For tickets call 8567-7686 loc. 2288.

Faith Gospel Singer’s Obra ng Maestro

THE Faith Gospel Singers present their 9th anniversary concert titled Obra ng Maestro featuring the Ellinwood Chamber Orchestra on Nov. 9, 6 p.m., at the Central United Methodist Church, T.M. Kalaw Ave, Ermita, Manila. Divided into four segments, the concert is a unique blend of Gospel songs, Original Pilipino Music, Broadway and movie themes, and inspirational music. Admission is free. For inquiries and ticket reservations, visit Faith Gospel Singers Facebook page or contact 0917-849-1409.

I Belong to the Zoo at Shangri-La mall

THE solo project of musician Argee Guerrero, I Belong to the Zoo takes over Shangri-La Plaza on Nov. 10, 7 p.m., at the mall’s Grand Atrium. Guerrero is known for writing sentimental, semi-autobiographical songs about love and heartbreak. For inquiries, call 8370-2597 or 98 or visit www.facebook.com/shangrilaplazaofficial.

Okko’s Inn film screening, Director’s Talk

THE Japan Foundation, Manila is partnering with Animahenasyon PH: The Philippine Animation Festival once again with a film screening of director Kitaro Kosaka’s Okko’s Inn on Nov. 8, 3:30 p.m., to be followed by a Director’s Talk at 5 p.m. at Samsung Hall, SM Aura, BGC, Taguig City. Admission is free. A second screening of Okko’s Inn will be held on Nov. 11, 6:50 p.m., at SM Megamall.

German Film Week

THE Goethe-Institut Philippinen opens the fourth German Film Week in Manila, ongoing until Nov. 11 at SM City Manila Cinema 6. It features a diverse lineup of 12 feature-length German films: 25km/h (directed by Markus Goller), 100 Things (Florian David Fitz), A Regular Woman (Sherry Hormann), All about Me (Caroline Link), Balloon (Michael Bully Herbig), Barbara (Christian Petzold), Berlin Blues (Oskar Roehler), Cold Feet (Wolfgang Groos); Good Bye, Lenin! (Wolfgang Becker), Gundermann (Andreas Dresen), The Keeper (David Kross), and, The Lives of Others (Florian Henckel von Donnersmarck). Regular tickets are P100 while students pay P50. Tickets are available via smcinema.com or the SM Cinema App. Slots are on first-come first-served basis.

Ortigas Christmas Light Tunnel

ORTIGAS & Company opened the Ortigas East Christmas Street Musical Light Tunnel to usher in the holiday season. In addition to the lights and musical display, a mural to be designed in collaboration with students from MINT College will be unveiled in front of the Silver City 1A building during the holiday season. Titled Everything Counts, the mural aims to inspire environmental awareness among the whole community and invite them to come together to take action towards environmental conservation and preservation. There will also be a StrEAT Food night market every night from 6 to 10 p.m. until Jan. 5. The Ortigas East Christmas Street Musical Light Tunnel will be open to the public every night from 6 to 10 p.m. until Jan. 5.

Christmas Tree Lighting at Araneta City

THE Araneta City (formerly the Araneta Center) will hold its annual Christmas tree lighting on Nov. 8 at the Times Square Food Park. Activities begin at 5 p.m. Registration at 4 p.m. (location to be announced). With the theme “Christmas and the City,” the program will feature guests such as Anne Curtis, Edward Barbers, AC Bonifacio, Zephanie Dimaranan, Lucas Garcia, Lou Yanong, Andre Broulette, Yamyam Gucong, and Fumiya Sankai. It will be hosted by DJ Chacha and Fifth Solomon.

Christmas at Robinsons Malls

ROBINSONS Malls have a number of Christmas-themed activities in the coming weeks. The Giant Lantern Caravan makes its way around select Robinsons Malls until Nov. 24. A grand Christmas Holiday Village if the highlight as Robinsons Manila lights up its Christmas Tree on Nov. 7. Robinsons Galleria South’s Pokémon Holiday display opens on Nov. 9, while Robinsons Magnolia’s Candyland Chic display opens on Nov. 10.

Van Gogh Alive

EXPERIENCE THE multi-sensory exhibition on the Dutch painter’s life through his works and letters at the 4F of One Bonifacio High Street in BGC, Taguig City. The exhibition runs until Dec. 8. For information, visit the official website at www.vangoghalive.ph. Tickets are priced at P750 (adult) and P450 (student) and are also available onsite and at The Mind Museum ticket booth. Senior citizen and PWD discounts are not available on online purchases.

The Quest for the Adarna

REPERTORY Philippines’s Theater for Young Audiences presents a musical retelling of the Philippine folk tale “Ibong Adarna.” The Quest for the Adarna has performances until Jan. 26 at Onstage Theater, Greenbelt 1, in Makati. In the kingdom of Berbania, the king falls mysteriously ill and can only be healed by the song of the mythical bird, Adarna, which can be found in its mountain home. His three sons take turns attempting the dangerous journey to help their father. Tickets are available through TicketWorld (www.ticketworld.com.ph, 891-9999).

SREC ready to expand Palawan minigrid

SABANG Renewable Energy Corp. (SREC) is ready to expand the capacity of its minigrid project in Puerto Princesa City, Palawan if the demand for power in the area it is serving increases to a level beyond the capacity of the 2.6 megawatt-peak (MWp) facility that started commercial operations on Thursday.

SREC is a consortium of Vivant Energy Corp., Gigawatt Power Inc. and WEnergy Global. It operates a hybrid power plant combining solar panels, batteries, and diesel engines, and an electricity distribution system in Barangay Cabayugan, Puerto Princesa City.

“SREC is our way of fulfilling our mission to combine emerging and existing technologies to provide adaptable and innovative energy solutions that improve the economy and way of life of Cabayugan,” said SREC Chairman Emil Andre M. Garcia in his message to formally launch the project.

Under optimal conditions, the hybrid plant will generate as much as 2.6 MWp once it is completed. This will allow the minigrid to provide power to around ten public buildings, 18 small businesses, 19 hotels and restaurants, and 583 households.

“As with all projects, Vivant takes a forward-looking approach where we study community needs while allowing ourselves the adaptability to adjust these solutions to changes. Any increase as has been done in our other Palawan investments, will be determined after we have more information,” said Shem Jose W. Garcia, Vivant assistant vice-president for corporate communication.

Walden Tantuico, SREC president and chief executive officer, said the company installed four diesel engines totaling 1.28 MW capacity and a 1.4-MWp solar energy system for the Sabang project.

“We erected poles and cables spanning 14 kilometers and built the power grid from the ground up,” he said.

Company officials said the project is the first minigrid project under the government’s qualified third-party scheme wherein a distribution utility — in this case Palawan Electric Cooperative — waived an area within its franchise to be energized by another entity

Anthony Shibley, chairman and chief executive officer of Gigawatt Power, placed the cost of the project at P450 million. He placed the stake of the SREC consortium members Vivant Energy, Gigawatt Power and WEnergy Global at 30%, 30% and 40%, respectively.

Energy Secretary Alfonso G. Cusi, who attended the event, said the minigrid project could be replicated in other remote areas of the country that remain without electricity. — Victor V. Saulon

Easing slowdown seen pushing yields up

THIS YEAR’S flood of monetary easing is slowing to a trickle as the world’s central banks judge they’ve done enough to avoid a recession, giving investors cause to think sovereign bond yields have finally bottomed.

Federal Reserve Chairman Jerome Powell last week said policy had reached an “appropriate” level after three cuts in interest rates this year. Mounting criticism of the European Central Bank’s negative rates leaves its new president, Christine Lagarde, under pressure to hold fire on additional stimulus, and Bank of Japan Governor Haruhiko Kuroda may be even closer to the limits of monetary policy.

As economists at Citigroup Inc. declare the arrival of “peak dovishness,” investors are responding by offloading bonds on the assumption there will be less support from aggressive central banks going forward. The 10-year Treasury yield, a benchmark for debt around the globe, has rebounded to nearly 2% from a three-year low of 1.43% in September, with the rest of the world’s markets following in its wake.

“We are past the peak of central banks easing,” said Peter Schaffrik, a global macro strategist at RBC Capital Markets. “You may get a few more cuts here and there, but the extreme cutting phase is over. And with that, yields in the US and globally are at risk of going higher. I’d be cautious about fixed income now.”

Of the 57 institutions monitored by Bloomberg, more than half cut borrowing costs this year, reaching a crescendo in recent weeks.

Now the tone is changing amid signs that the worst is over for a global economic slowdown and that the US and China may be able to resolve some of their differences over trade policy. Sweden’s Riksbank is even stressing its determination to hike by the end of the year.

Policy makers also know they can only cut interest rates so far, and in countries where they’ve turned negative there’s a growing backlash from banks and politicians. Many, including Lagarde and Kuroda, are placing the onus on governments to do more to support demand if needed.

“Central banks may be approaching the limit in terms of how much more they can help the economy,” said Pernille Henneberg, an economist at Citigroup. “If financial conditions had reached tight territory, that could have been very damaging to the economy. They have tried to go against all the uncertainty from the trade war, and maybe they have done enough now. Focus is now changing to what fiscal and monetary coordination can do.”

FALSE DAWNS
While there’s a shift in momentum, investors will be all too aware that the past decade has seen several false dawns for both central bank rates and yields. This time last year, economists at Goldman Sachs Group Inc. and JPMorgan Chase & Co. were among those predicting the Fed would raise rates four times in 2019. JPMorgan Chief Executive Jamie Dimon famously warned in 2018 that the US 10-year yield was headed to 4% from about 3%.

And though there are signs the slowdown may be bottoming out, risks remain. It’s not clear whether trade talks between Washington and Beijing will continue toward a comprehensive agreement and the European Union and UK have still to resolve Brexit. Inflation also remains well below the target of what many central banks are mandated to deliver.

“Central banks may well have reached the peak of what they’re willing to do right now, but I do not think that will last in 2020,” said Luke Hickmore, a money manager at Aberdeen Standard Investments, who is snapping up bonds across Germany, Australia and Canada. “I am a buyer if yields jump higher.”

There may yet be room for more rate reductions. Economists at Bloomberg Economics are among a handful who say the Fed will do more in coming months, and Switzerland and Australia could also shift. Emerging markets such as Brazil, Mexico, Russia may act too.

But the brunt of the easing is probably over unless the outlook darkens again. For traders, that may be a game-changer after a decade of monetary juice kept a lid on yields and left about $13 trillion of investment-grade global bonds with rates below zero.

FEELING ROSY
What’s bad news for havens such as government bonds may be good news for other asset classes. US stock benchmarks climbed to all-time highs this week, the Stoxx Europe 600 Index marched to a four-year high and major Asian indexes advanced. US investment-grade debt has also rallied.

“Central banks will mostly stay quiet next year on monetary policy,” said Fabrizio Fiorini, the chief investment officer at UBI Pramerica SGR. “There also won’t be the same level of trade-war struggles. This environment will be one marked by better growth, higher yields — with steeper yield curves — and more stable developed-market share prices.”

Markets are feeling more rosy than just weeks ago. It’s true that money markets point to more easing, rather than tightening, by central banks, but pricing for the next Fed move has pushed out toward 2021. And while 15 basis points of cuts were factored in for the European Central Bank by the end of this year, none are now expected at least through the end of 2020.

“After all the central bank easing, the market is pricing in that they expect growth,” Brian Weinstein, head of global fixed income at Morgan Stanley Investment Management, told Bloomberg TV. And regarding trade wars and political issues, the sense is that “uncertainty has peaked.” — Bloomberg

Loyalty, not competence is what counts in this company

I work for a family corporation. I am a witness to some issues committed by our management that are technically illegal, if not utterly unethical or immoral. Even the audit manager asked me to keep silent about those issues and told me the owners want everyone to be loyal to the organization. Time and again, we are reminded that the owners would rather keep the loyalists in their fold rather than be saddled with whistle-blowers, no matter if they are competent fast-trackers. What can I do under the circumstances? — Pink Lily.

A 79-year old millionaire was very energetic with his lovely 26-year old bride, but sometimes wondered whether she might have just married him for his money. So he asked her: “If I lost all my money, would you still love me?”

She replied: “Of course, I would still love you. But I would miss you!”

In your case, would you still profess love and undying loyalty to your company, if and when the authorities discover your illegal activities? Would you continue to condone their unethical and immoral actions? What would you do next? But first, let’s examine the definition of competence and loyalty.

“(C)ompetence,” according to Jorgen Sandberg of the University of Queensland’s Graduate School of Management in Brisbane, “is something more than a list of attributes” such as those items Human Resources test for in job applicants. “However, (managers) sense that a person’s way of seeing work is just as important; competent workers have a particular vision of what their work is and why it is that way,” writes Sandberg in Harvard Business Review.

This means competence should not be defined as merely a set of skills. It also includes how a person values the work and understands its rationale. And if I could add my two cents’ worth, the job holder must discover how those skills (including critical thinking) could help solve problems that may put the organization in trouble with government authorities or other entities.

On the other hand, loyalty is a complex term for so many people. Management researchers David Sturt and Todd Nordstrom say that “(l)oyalty just might be one of the most elusive concepts to grasp for organizations, leaders, and employees. It’s one of those things that is obvious when it exists, crystal clear when it doesn’t, and sadly, nearly impossible to pinpoint when it lands somewhere in the gray area. Ironically, that’s where most people fall — in the gray.”

Writing for Forbes, Sturt and Nordstrom ask the following questions: “What does the word loyal mean to you? Does it mean they’ll steal from the company, and sell trade secrets? Does it mean the employee is speaking negatively about the company or team? Or, does it simply mean you think this person would take another job if the opportunity arose?”

In addition, would it mean being blind to the illegal, immoral, or unethical policies of the organization? You’ve to answer these questions as honest as you can be.

Longtime senior executive at Walt Disney Co., Roy Edward Disney (1930-2009) was right: “It’s not hard to make decisions, once you know what your values are.” Therefore, the first thing for you to do is to define your personal beliefs, morality and values. If there’s a clash between your personal values and the unwritten values of the corporation, like the wrongful expectations about one’s loyalty (like for everyone to remain blind), then how would you decide?

If you know your values, you can make a ready decision whether to prolong your stay in that organization. But what if you don’t know your personal values?

Forbes senior contributor Kathy Caprino has the answer: “There are many ways to identify your values, but one powerful way is to focus on identifying qualities or virtues which were present during times of success or expansion in your life, or, absent during times of failure or contraction.”

So what are your personal values that made you succeed in life?

In an ideal set-up, many people don’t want to be a part of the company’s illegal, immoral, or unethical activities. But for many economic reasons, they can’t simply let go of their jobs, no matter how they become stressful, and at times fearful of the future. Resigning a job because you want to preserve and uphold your principles makes you a rare gem not only in this country but anywhere.

Given all these, are you ready now to resign because personal beliefs clash with corporate practices? It’s your choice. Make a firm decision as soon as you can before the circumstances catch up and pull you down.

ELBONOMICS: Seeking loyalty from people when you’re wrong is stupidity.

 

Send anonymous questions to elbonomics@gmail.com or via https://reyelbo.consulting

What to see this week

5 films to see on the week of November 8 — November 14, 2019

Midway

BASED ON real life events, the story centers on the Battle of Midway — a clash between the American fleet and the Imperial Japanese Navy during WWII in what turned out to be the decisive battle of the war’s Pacific Theater. Directed by Roland Emmerich, the film stars Woody Harrelson, Ed Skrein, Patrick Wilson, Luke Evans, Mandy Moore, and Aaron Eckhart. Mark Kennedy of the Associated Press writes: “The director has taken real, living men who acted heroically and turned them into pulp comic strip characters.” Rotten Tomatoes gives the film a score of 35%.

MTRCB Rating: PG

Urban Evil 2

THE SEQUEL to Korea’s biggest horror movie features four stories illustrating the shapes of hell. It shows how ordinary people with fear and desire may turn into monsters. The film stars Soo-bin Chae, and Jang Kyung-up.

MTRCB Rating: R-13

Primal

A HUNTER books passage on a freighter for himself and the rare white jaguar he bagged for a zoo. But also on the ship is a prisoner — an assassin who is being extradited to the US. Two days into the trip, the assassin escapes and releases the animal, and the hunter finds himself stalking his new prey. Directed by Nick Powell, the film stars Nicolas Cage, Famke Janssen, and Kevin Durand. Dread Central’s Michelle Swope writes, “Primal wasn’t meant to be a serious film. The dark humor in the script combined with the incredulous scenario aboard the ship genuinely works in the film’s favor.” Rotten Tomatoes gives this film a score of 55%.

MTRCB Rating: R-13

Nuuk

ELAIZA, a Pinay migrant worker in Greenland turns to drugs and alcohol after the death of her husband. She soon finds companionship with a fellow Pinoy Mark, after they meet at the pharmacy. Their relationship takes a turn when Elaiza discovers Mark’s real motives. Directed by Veronica Velasco, the film stars Alice Dixson and Aga Muhlach. Esquire Philippines’ Jill Tan Radovan writes: “Unlike other travel-oriented movies where the scenery easily overshadows the story, Nuuk’s best trait is the storytelling. With twists you may or may not expect and turns that are hardly seen in local cinema, it leaves you consistently hungry for the next scene, eager for the mystery to unfold.”

MTRCB Rating: R-13

Cara X Jagger

CARA IS gifted with a sharp memory, while her ex-boyfriend Jagger suffers from amnesia. The former lovers reunite when Jagger’s grandfather hires Cara to care for him and make him remember his past. Directed by Ice Idanan, the film stars Jasmine Curtis-Smith and Ruru Madrid.

MTRCB rating: PG

Wilcon Q3 net profit increases by 15%

WILCON Depot, Inc. reported 15.5% higher earnings in the third quarter, as it focused on bringing higher margin products to its stores.

The listed home improvement retailer said its net income in the July to September period stood at P549 million, bringing the year-to-date figure at P1.54 billion, up 11%.

“The increase was driven mainly by the sustained margin expansion due to the improving sales mix in favor of higher margin products and the growth in net sales,” the company said in a statement.

Wilcon’s net sales during the nine-month period improved 17.4% to P18.04 billion.

During the nine-month period, depot-format stores, which accounted for 95.8% of total revenues, generated P17.28 billion in sales. This was an 18% increase from the same period last year.

The company opened three new depot stores during the July to September period, raising its total depot stores to 48 and overall stores to 55.

Home Essentials stores, a smaller format store that Wilcon operates, posted P492 million in revenues for the nine months, up 6.4% from last year.

Wilcon said sales that the company gets from large property developers and the hospitality industry rose 21% to P260 million for the three quarters.

Operating expenses during the nine months jumped 24.3% to P3.91 billion as the company continued investing in new stores. Interest expenses added P208 million, soaring 8,764% from a year ago, due to increases in depreciation and amortization and significant growth in manpower expenses, utilities, trucking and taxes and licenses.

“We are pleased with our performance in the third quarter. Our gross profit margin continued to improve and comparable sales growth rate increased from 1.9% to 6.6% quarter-on-quarter, which partly offset the impact of our increasing operating expenses attendant to our store network expansion. Hence, we were able to register a 15.5% net earnings growth for the third quarter,” Wilcon President and Chief Executive Officer Lorraine Belo-Cincochan said in the statement.

Wilcon spent P2.03 billion for capital expenditures during the nine-month period, which went to the construction of new stores and warehouses and extensions or renovations in some old stores.

Shares in Wilcon shed 0.10 point or 0.58% to close at P17.10 each on Thursday. — Denise A. Valdez

Fed is data-dependent from here, NY Federal Reserve’s Williams says

NEW YORK — New York Federal Reserve President John Williams said Wednesday any changes in interest rates from here will depend on the incoming economic data but policy makers should be preemptive in taking steps to keep the expansion alive.

Williams also said the three interest rate cuts the Fed has delivered since July leave the US economy better positioned to withstand potential risks.

“We want to keep this Goldilocks economy going, not too hot, not too cold,” Williams said Wednesday at an event organized by the Wall Street Journal. “It’s a combination of responding both to what we’re seeing in the data but also looking ahead and seeing where is this economy likely to be next year and the year ahead.”

Fed officials cut interest rates last week by a quarter percentage point to a target range of 1.50% to 1.75%. Policy makers characterized the third rate reduction of the year as the last of the “insurance cuts” meant to bolster the ability of the US economy to withstand potential headwinds from a global slowdown, a manufacturing slump and a trade war with China.

Policy makers continue to point to the strong labor force as evidence that the US economy is in a good place. Fed Chair Jerome Powell and others said it would take a “material change” to the economic outlook for them to support further rate cuts.

Williams reiterated views expressed by other policy makers that there are risks to letting inflation get too low. He said he is concerned about the disinflationary pattern seen in Japan, where central bank officials have little wiggle room for stimulating economic growth.

“Having some inflation in the background, or 2% inflation, gives us more policy space to respond,” he said.

US consumers’ inflation expectations fell again in October, according to a survey released Tuesday by the New York Fed. The report showed that inflation expectations have dropped for most of this year, with the one-year inflation outlook reaching a new low for the survey, which was started in 2013.

Williams said he believes the Fed can achieve its target of 2% inflation and that officials should commit to “symmetric” inflation targeting, which allows inflation to run above the desired level half the time and below the target half the time. — Reuters

How PSEi member stocks performed — November 7, 2019

Here’s a quick glance at how PSEi stocks fared on Thursday, November 7, 2019.

 

Duterte orders compulsory quality checks for hollow blocks

PRESIDENT Rodrigo R. Duterte has ordered the inclusion of hollow blocks in the list of products for mandatory certification after questions about the quality of building materials emerged following recent earthquakes.

A statement from the Department of Trade and Industry (DTI) on Thursday said that the President raised concerns about building materials during the Cabinet meeting Wednesday, particularly those made by small suppliers, after the recent earthquakes in Mindanao.

Trade Secretary Ramon M. Lopez said steel, cement, and several other construction materials are routinely certified to comply with quality standards.

Mr. Duterte also ordered all local government units (LGU) and contractors to ensure that all construction materials they use pass quality standards.

Contractors using inferior-quality construction materials and breaching specifications in the Building Code and structural design may have their contractor licenses revoked. Contractors that use uncertified materials for government projects will not be paid and will have their contracts terminated, Mr. Lopez said.

“The quality of any building structure depends not only on the product standards, but also on the quality of the construction job, particularly on adherence to approved structural design and the Building Code, required steel density, cement mixtures, among others,” Mr. Lopez said.

DTI has issued new technical regulations for cement, steel bars, and glass. Cement, steel bars, and nails are in the mandatory certification list, while the inclusion of glass in the list is currently subject to a court injunction.

The department is studying the inclusion of roofing, ceramic tiles, and plywood in the list. DTI is also holding consultations on the regulation of black iron and galvanized iron; steel pipes; and steel sheets.

Apart from the PS (Philippine Standard) accreditation of the manufacturing plant, products are also tested at the plant, and imported steel or cement are tested at pre-shipment and post-shipment stages. The sample size for testing was also increased significantly. — Jenina P. Ibañez

Palace approves creation of more teaching positions, curriculum reform

PRESIDENT Rodrigo R. Duterte approved measures creating more teaching positions in the public school system and to reform the current curriculum.

In a Palace statement Thursday, Mr. Duterte approved the recommendations of Education Secretary Leonor G. Briones during the Cabinet meeting Wednesday.

“Moving forward, quality basic education is imperative. Thus, the President approved DepEd’s recommendation to improve the curriculum for students who want to pursue education, create more plantilla positions for teachers, produce a communication plan on quality education, and harness the use of technology to educate more students, educators and leaders,” the President’s Spokesperson Salvador S. Panelo said.

Adding more teaching positions is one of the primary programs under DepEd’s proposed 2020 National Budget of P551.7 billion, with around P1.2 billion allocated to hire 10,000 teachers next year. The education department also said it is currently studying expanding the first three Teacher ranks for public school teachers in order to provide an encouraging career path for teachers featuring regular promotions.

The Department of Education (DepEd) Computerization Program also aims to provide more information and communication technology (ICT) to public schools in order to improve teaching quality.

The DepEd added that curriculum reform is urgent in light of the years-long decline in the passing rate in the National Achievement Tests (NAT). — Gillian M. Cortez

NEDA keen to enforce no-guarantee policy on new flagship PPPs

THE National Economic and Development Authority (NEDA) will release guidelines for projects funded through public-private partnerships (PPP) after recently issuing a new list of flagship infrastructure programs that had more private participation.

NEDA Secretary Ernesto M. Pernia said that with more PPPs included in the revised infrastructure flagship list, the government will be more cautious in issuing state guarantees, subsidies “and other anything to do with material adverse government action (MAGA).”

“For PPPs we want to make sure that PPP projects are going to benefit the people. That is why we don’t want government guarantees, subsidies and other things to do with MAGA,” Mr. Pernia told reporters at a news conference in Pasig City yesterday.

He also said the government is planning to restrict the coverage of the clause to the “executive branch only, judiciary and local governments are not covered by MAGA.”

He noted that the administration is “very restrictive” with PPP projects, noting that it took one year to complete the operations and maintenance (O&M) terms of the Bohol-Panglao International Airport “because it went through so many iterations.”

“Also we want to make sure we do not get sued when we are out of office already. That is the danger when you’re not so careful in dealing with the private sector,” he added.

The revised list of 100 flagship infrastructure projects won approval from the Investment Coordination Committee-Cabinet Committee (ICC-CabCom) and the Cabinet-level Committee on Infrastructure (INFRACOM) on Wednesday which included 26 more PPP-funded projects and more “small but game-changing” projects while dropping those that were found unfeasible.

The flagship projects cover transport and mobility, which is the top priority; power, water, information and communications technology and urban development and renewal.

Mr. Pernia said that NEDA will release an official statement on guidelines for PPP projects as well as the final list and the criteria used on the projects included in the revised infrastructure flagship program.

In a statement yesterday, NEDA issued more details on the four infrastructure projects the ICC-CabCom approved Wednesday, including the Samal Island-Davao City Connector (SIDC) and the Davao Public Transport Modernization Project (DPTMP), both by the Department of Public Works and Highways (DPWH).

SIDC will link Davao City and the Island Garden City of Samal will require the construction of a toll-free four-lane bridge with an approximate length of 2.8 kilometers (km).

The permanent road has an estimated total project cost of P23.04 billion and will be financed through official development assistance (ODA).

The connector project can serve about 25,000 vehicles per day, it said, adding that it will reduce travel time and address reliability constraints due to the current conditions of the ferry services in the region.

The DPTMP, which will cost around P18.67 billion be funded by ODA, is expected to provide “attractive, efficient and affordable mode of transport in the Davao City.”

Another project approved was the P9.23 billion Camarines Sur High-Speed Highway project, a 15.21-(km) four-lane highway.

“Lastly, the ICC-CabCom also approved the unsolicited proposal for the operations and maintenance of the New Bohol International Airport under a 25-year concession period,” NEDA said in the statement. — Beatrice M. Laforga

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