Muntinlupa City extends Business Permit Renewal anew to March 31, 2022 without penalties

The City Government of Muntinlupa has announced another extension on the business permit renewal period up to March 31, 2022.

Muntinlupa Business Permits and Licensing Office has posted on its Facebook page regarding the extension of the assessment and payment of Business Permit Renewal.

“Per City Ordinance No. 2022-318, the deadline for both the assessment and payment of Business Permit Renewal is extended up to March 31, 2022. Renew your business permits now to avoid penalties,” BPLO noted.

Meanwhile, all transactions are now back at City Hall. Previously, taxpayers proceed to Muntinlupa Business Permit Renewal Hub located at Muntinlupa Sports Center, Brgy. Tunasan.

The extension has been approved by the City Council and Mayor Jaime Fresnedi following the request of BPLO. The licensing office noted the economic impact of COVID-19 pandemic to the taxpayers.

BPLO added that the initiative aims to help taxpayers who “may not be able to immediately comply with the mandatory documents which are the basis for the prudent and correct imposable taxes” due to the pandemic.

The extension covers payment of all local taxes, fees and other charges without penalty.

Further, business owners may renew their business permit online via the Business E-payment System (BESt) which can be accessed thru Muntinlupa City official website (www.muntinlupacity.gov.ph).

Muntinlupa BEST is an online platform which allows locators to accomplish business permit applications and transactions through any internet-enabled device. Taxpayers can accomplish transactions including application for New Business Permit, Renewal of Business Permit, Application Status Inquiry, Billing and Payment, and Payment History.

Another option for business locators is the Business Permit Application Self-Service (BPASS) kiosks which are located across the city’s major malls.

Business permits may also be delivered by the city government’s official courier service partner, Keridelivery Inc, to the doorstep of business owners.

Mayor Fresnedi thanked the taxpayers for their continued support in doing their part for the recovery of the city and the local economy.

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The above information was sourced from an official press release. Some parts were changed for this website.

Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  HavenorFantasy@twitter.com as well as on Tumblr at https://carlocarrasco.tumblr.com/

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Over 40 employees of online lending applications arrested over alleged harassment of clients and contact persons

Here in the Philippines, have you been harassed or threatened by people who are working for online lending applications where you borrowed money from? I had to ask that question because it was revealed that more than forty online lending app employees (including a foreigner from China) were arrested for allegedly harassing and threatening clients who could not pay back their loans in time, according to a GMA Network news report.

To put things in perspective, posted below is the excerpt from the GMA News report. Some parts in boldface…

Over 45 workers of online lending applications, including a Chinese national, were arrested for supposedly harassing and threatening clients unable to pay their loans within the prescribed period.

According to Philippine National Police Anti-Cybercrime Group Public Information Officer Police Lieutenant Michelle Sabino, the division had received several harassment complaints against lending apps that were being run by the Cashtree Lending Corp.

The terms and conditions of the applications allegedly contained a clause that granted the firm access to clients’ contacts – a requirement for taking out a loan. Once approved by the borrower, the firm is then said to save the contacts into its database.

“Hina-harass nila ‘yung mga relatives, kasi nga stated eh, ‘di ba nga like ‘yung contact numbers mo nandon… so if you do not pay out, ‘ire-rape namin ’to, papatayin namin,’ and all other threats na posible, ‘yun ang ginagawa nila,” she said in a report on GMA’s “24 Oras Weekend” on Sunday.

(They harass the relatives, as there was a clause regarding contacts… So if you do not pay, they threaten to rape, kill, and all other possible threats. That is what they do.)

The application targets mainly low-income households and those unemployed, even if it was found to have no certificate of authority or permit to operate.

The company’s loans were also said to have high interest rates, and they get in touch with the borrower’s contacts once payment is not made within eight days.

Collecting agents have also been reported to encourage borrowers to make other loans with different loan applications for them to make a repayment.

“Minsan merong mga dumadating sa kanila na sasabihin ng collecting agent na ‘Okay, para makasambot ka, para makabayad ka, magdownload ka ng itong loan app nito, would also offer, so para maka-payoff ka dito sa isa, mag-uutang ka na naman which in turn nabaon na nang nabaon si victim,” she said.

(Sometimes the collecting agents would tell the borrower that for them to be able to pay, they should download another loan app. So for them to pay off their debt in one application, they would borrow again leaving them buried in debt.)

For his part, one of the suspects, Shihai Dao, said the firm did not encourage any harassment.

“Never do anything illegal in Philippines, so I’m confused… Never allowed to employ to harass the client to pay the money back. Just reminding them and tell them to pay (sic),” he said in the same report.

The firm would face charges for violating the Cybercrime Prevention Act of 2021.

“Do not download ‘tong mga lending apps na ‘to, ‘tong mga loan apps. May tendency na ma-threaten pa ‘yung life mo or i-harass, at ang problema, hindi lang ikaw, lahat ng contact mo,” Sabino said.

(Do not download these lending and loan apps. There is a tendency that your life will be threatened or be harassed. The problem is it will not be just you but all your contacts.)

Authorities from the Securities and Exchange Commission (SEC) and the National Privacy Commission (NPC) earlier warned firms against unfair debt collection practices.

Such practices included sending violent threats, using harsh words, disclosing the name and other personal information of the borrower in public, and messaging or calling the people on the contact list of the borrower without his/her consent.

The above report ended stating that lending firms who are guilty of doing the above-mentioned practices may be fined between P25,000 to as much as P1,000,000 and also have their certificate of authority to operate revoked.

Let me end this piece by asking you readers: What do you think about this recent news report? Do you know anyone who got harassed or threatened by people because they are unable to pay back their loans in due time? Have you been seriously considering borrowing money through these online lending apps? Does this recent news development discourage you from taking loans through online lending apps? Do you believe that the immigration officials should do something about foreign workers of online lending apps who got involved with the harassment of clients?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/

COVID-19 Crisis: Muntinlupa City Government grants zero-interest loan to 200 “Muntipreneurs” to help them recover amid pandemic

The City Government of Muntinlupa continues to provide zero-interest loan assistance to micro-entrepreneurs and MSMEs dubbed as “Muntipreneurs” in a bid to revive the stalled local economy due to the COVID-19 pandemic.

Mayor Jaime Fresnedi led a ceremonial turn-over ceremony of the loan assistance amounting to P4,374,000.00 for 200 beneficiaries of Tulong Negosyo’s Batch 132, 133,134, & 135 in Muntinlupa City Hall last January 27.

Muntinlupa Mayor Jaime Fresnedi leads a ceremonial turn-over ceremony of zero-interest loan assistance amounting to P4,374,000.00 for 200 “Muntipreneurs” (Muntinlupa entrepreneurs) last January 27. The local government of Muntinlupa continues to provide zero-interest loan assistance to micro-entrepreneurs and MSMEs in a bid to revive the stalled local economy due to the COVID-19 pandemic. Muntinlupa is the first LGU to introduce the micro-financing program. (source – Muntinlupa PIO)

Of the total, four local entrepreneurs received P150,000 each, seven (7) received P100,000, and five (5) beneficiaries received P75,000. The local exec vows to continue the local financing program and hopes to revive the local economy by supporting grassroot players through various programs.

The City Government of Muntinlupa assists local micro-entrepreneurs through the Joint Resource Financing Program’s (JRFP) Tulong Negosyo (formerly Dagdag Puhunan). Muntinlupa is the first LGU to introduce the micro-financing program.

Tulong Negosyo caters to MSMEs and provides micro-finance assistance ranging from P2,000 up to P150,000 depending on the business capital ceiling and payment record of beneficiaries. The program aims to provide additional capital for business expansion for aspiring and established business owners in Muntinlupa.

Tulong Negosyo program has three categories namely: Simulang Kapital (SIKAP) Pangkabuhayan with loan application amounting to P2,000 – P5,000, Asenso Loan Program amounting to P6,000 – P75,000, and Maunlad Loan Program amounting to P75,000 – P150,000.

Further, a Savings Program has been incorporated in the loan assistance to teach clients about the importance of economizing and serve as protection to the clients and the program. Entrepreneurial education through trainings and other related interventions are also conducted.

Recently, JRFP has launched a Restructuring Program extending payment schedules for beneficiaries in a bid to help them recover from losses due to the pandemic.

Due to the limitations in face-to-face transactions, the Tulong Negosyo has also implemented Online Application services and cashless repayment system through Smart Padala and G-Cash.

To apply, visit Joint Resources Financing Program – JRF Facebook Page or click the following links: New Applications – bit.ly/TulongNegosyoNew, and Renewal – bit.ly/TulongNegosyoRenewal. The Muntinlupa Joint Resources Financing Program is located at 2F Plaza Central, Brgy. Poblacion with contact number 8772-3457.

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The above information was sourced from an official press release. Some parts were changed for this website.

Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  HavenorFantasy@twitter.com as well as on Tumblr at https://carlocarrasco.tumblr.com/

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Las Piñas City receives 2021 Seal of Good Financial Housekeeping from DILG

The City Government of Las Piñas is off to a happy start for 2022 as the Department of Interior and Local Government (DILG) awarded their city the 2021 Seal of Good Financial Housekeeping in recognition of their fiscal accountability, according to a Manila Bulletin news report. It was Mayor Imelda Aguilar who announced the news.

To put things in perspective, posted below is the excerpt from the Manila Bulletin report.

Las Pinas City Mayor Imelda Aguilar announced that the city received the 2021 Seal of Good Financial Housekeeping (SGFH) from the Department of Interior and Local Government (DILG).

Aguilar said the DILG recognized the city government’s efforts on sustained good practices in fiscal accountability and transparency in local governance.

Based on the recommendation of the DILG-Bureau of Local Government Supervision (DILG-BLGS), Las Pinas City was among the three cities given the DILG’s 2021 Seal of Good Financial Housekeeping . The other two cities are Makati and Muntinlupa.

The mayor said the recognition was certified and approved by the DILG-National Capital Region (NCR) on Nov. 5, 2021.

The criteria was based on the most recent available COA Audit Opinion and compliance with full disclosure policy, according to Maria Lourdes Agustin, DILG Regional Director.

Let me end this piece by asking you readers: If you are a Las Piñas City resident, what do you think about the recognition DILG gave to your city? Are you happy about this development?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

I Love Israel: Israeli Ambassador Ilan Flus confirms commitment on collaborating with the Philippines on technology, innovation and medicine

The ties between the Philippines and Israel continued to get stronger as the new Israeli Ambassador Ilan Fluss confirmed that the State of Israel is committed to collaborate with the Filipino nation on important fields, the Manila Bulletin reported.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Israel is committed to pursue collaboration with the Philippines in the areas of technology, innovation and medicine, according to its new ambassador to Manila.

Israel Ambassador to the Philippines Ilan Fluss confirmed at the “Pandesal Forum at Kamuning Bakery Café” that lots of cooperation are going on between the two countries.

In agriculture, the ambassador said that cooperation in agriculture technology is being discussed and is handled by its economic section. He mentioned of an Israeli initiative for an irrigation project in the country using solar technology to help Philippine agriculture.

Fluss also said that he met recently with Defense Secretary Eduardo Año to discuss cooperation in defense and military training.

On medicines, the ambassador explained that Israel is not yet into COVID-19 vaccine manufacturing, but they are going into that. He said that Israel is still in the second stage in their clinical research for COVID-19 vaccine.

We are open to discuss partnership with the Philippines,” he said. In fact, he said, that an Israeli firm is already looking into the manufacture of medicines in the Philippines, but may not be necessarily COVID-19 vaccines.

Meantime, the Philippine Economic Zone Authority announced the approval of Israeli-Filipino joint venture Savepoint Biotek for its proposal to manufacture oral COVID-19 vaccines.

According to PEZA, Savepoint is investing P83 million initially for the project to be located in the Pampanga Economic Zone. The joint venture even projected annual sales of $180 million from the Philippines and export markets.

A source privy to the project application said the company has projected annual sales of $180 million of which 70 percent is expected to come from its export markets Asia Pacific and Africa. The project is also expected to employ 425 workers upon full commercial operation.

Sources said that partners, the Filipino and the Israel pharmaceutical firm, are still finalizing their equity structure. While waiting, the source said, the project would be represented by the Filipino group.

It is always great to learn of the cooperation and unity between Israelis and Filipinos, and as always, we must thank the Lord! Apart from the diplomatic developments, the establishment of Savepoint Biotek by Israelis and Filipinos is significant especially with the ongoing COVID-19 crisis.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful (not religious), you should be aware that Christians are meant to stand united with Israel, love the Jewish people and pray for the peace of Jerusalem. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel!

In ending this I Love Israel piece, posted below are Israel-related videos for your viewing pleasure.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/

COVID-19 Crisis: More support for businesses by means of easing restrictions

Are you a business owner who has been struggling to make ends meet during the pandemic here in the Philippines? On the national level, more support for businesses by means of easing the restrictions has been pushed for by Presidential Adviser for Entrepreneurship Jose Ma. “Joey” Concepcion III according to a recent news report by GMA Network.

To put things in perspective, posted below is the excerpt from the GMA Network news report. Some parts in boldface…

Presidential Adviser for Entrepreneurship Jose Ma. “Joey” Concepcion III on Tuesday called for the need to open up more of the economy in the final quarter of the year, for businesses to recover and be able to pay their dues.

According to Concepcion, the fourth quarter is crucial for businesses given the historically higher consumer spending amid the Christmas holidays.

“We have to open the economy because this is the last quarter. This is time when most negosyantes can get back what they lost in the previous months. Babayaran nila mga 13th month pay, may utang nila sa bangko, sa suppliers [They will have to pay the 13th month pay, their loans in the banks, with suppliers],” he said during the Laging Handa virtual briefing.

Concepcion has been pushing for the imposition of “bakuna bubbles” or pockets of micro-herd immunity among closed groups such as homes and workplaces.

Under the proposed measure, vaccinations will be mandated for a range of indoor gatherings in a bit to boost the country’s immunization efforts and only allow privileges to those fully vaccinated.

At present conditions with only 30% indoor dining allowed for fully vaccinated individuals in Metro Manila, Concepcion said businesses do not gain much, noting that this should be increased to at least 50% to carry businesses over to 2022, or even 70% by November or December.

“Ito ang panahon that we should start to live with COVID. Kung pabagsak ang [If there is a downtrend on the] trajectory ng infection level, then we should open up more and more and then keep an eye, watch out if it reverses then we pull back and we can push back,” said Concepcion.

“For now, it’s only one quarter left ’til the end of the year. Bigay na natin ‘to sa mga negosyaante para mabuhay sila ’til next year. [Let’s give this to the businesses for the thrive until next year],” he added.

In relation to the news above, the Department of Trade and Industry (DTI) called for businesses to be open on all alert levels. The Cinema Exhibitors Association of the Philippines (CEAP) appealed to the Inter-agency Task Force (IATF) for the Management of Emerging Infectious Diseases to allow the limited operations of cinemas under the Alert Level 4.

Let me end this piece by asking you readers: What do you think about Joey Concepcion’s statements on supporting businesses a lot? Do you feel confident about the further reopening of the national economy? Do you think that the Metro Manila Council (MMC) and the Metropolitan Manila Development Authority (MMDA) will understand Concepcion’s pro-business push and make wise decisions this time around?

Can you imagine the MMC and MMDA recommending another enhanced community quarantine (ECQ) to the IATF in the near future that will surely destroy jobs and hurt businesses all over again?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

270 people apprehended in Parañaque City for online sabong

The latest Parañaque City crime news are here and not only was it about a relatively new form of gambling but it also involved a few hundred suspects! Two hundred and seventy suspects to be precise according to a news report by the Manila Bulletin.

To put things in perspective, posted below is the excerpt from the Manila Bulletin news report. Some parts in boldface…

Parañaque City police apprehended on Saturday 270 individuals for playing online “sabong” (cockfight) and for failure to observe social distancing.

Prior to the suspects’ arrest, the police received information about mass gatherings inside the Roligon Mega Cockpit Arena on Quirino Avenue in Paranaque City, according to city police chief Col. Maximo Sebastian.

Sebastian said cops in the nearby police sub-station were immediately dispatched and found the 270 gamblers playing online sabong.

He said the suspects were immediately rounded up and given citation tickets for violation of the health protocols under the new quarantine alert system.

The city police chief said those who will be caught for the first offense will be fined P1,000, P3,000 second for the second offense, and P5,000 for the third offense.

Sebastian also said the management of the arena failed to show a permit to operate online sabong.

He said the owner of the arena claimed they have a permit from PAGCOR and that their online sabong was just a dry run.

The above report ended stating that according to the police, any form of gambling is illegal under the new alert level.

Let me end this piece by asking you readers: Do you believe the claim that a PAGCOR permit was really issued and that the online sabong was just a dry run or trial activity? How familiar are you with online sabong (AKA e-sabong)? Are there lots of people in your local community who engage in any form of gambling during this pandemic? Do you think that the criminal elements are building up illegal gambling all over Parañaque City?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

COVID-19 Crisis: EastWest Bank employees and partners receive protection through FilVax COVID-19 vaccination program

Are you looking for something inspiring or interesting during this pandemic? Check this out…EastWest, a major bank here in the Philippines, had its employees and the personnel of its partners vaccinated for COVID-19 recently.

The EastWest logo.

To put things in perspective, posted below is an excerpt from EastWest’s announcement sent to me via email. Some parts in boldface…

We’re glad to announce that we’ve now made an important step in fighting COVID-19 by vaccinating our employees and partners across the Philippines!

Last August 3, EastWest and its parent company Filinvest Development Corporation had launched FilVax, a conglomerate-wide vaccination program. Our EastWest employees, janitorial services, drivers, messengers, security guards, and other partners had begun receiving the AstraZeneca vaccine at its supersite in Festival Mall in Alabang, Muntinlupa City, with more sites to be launched across the country soon after. This is part of the 100,000-dose order of the Filinvest Group, and is open to all of EastWest’s employees and partners nationwide, beginning with the bank’s frontliners. We are aiming for full vaccination of our employees by this October.

The vaccination program is the latest initiative in our efforts to protect our customers and employees from COVID-19, which include regular sanitization and disinfection of stores, a remote working setup for employees, and private shuttles for employees reporting for work in our stores. With these efforts, your safety and our uninterrupted service for all your banking needs continue to be our top priority.

It’s nice to see that EastWest made moves to protect its workforce plus other personnel from the dreaded effects of COVID-19. This means it is safe to visit their bank branches and do over-the-counter transactions. Moves like this one is key to help the nation’s economy recover. EastWest and its FilVax program deserve admiration. Getting vaccinated is truly essential!

Meanwhile residents of Muntinlupa City who remain unregistered and unvaccinated should make a move to get registered by learning the ways to do it. Those who are prepared (with personal information available) and willing to go through online registration for the free vaccines in Muntinlupa are encouraged to click https://vaccine.muntinlupacity.gov.ph/muncovac/

Let me end this piece by asking you readers: What is your reaction about EastWest Bank employees and partners getting vaccinated for COVID-19? Do you bank regularly at EastWest? How many EastWest banks are there in your local area right now?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

COVID-19 Crisis: Online stockbroker predicts PSE index to reach 8,100 level by the end of 2021

With the enhanced community quarantine (ECQ) all set to take effect all over Metro Manila for two weeks starting August 6, a lot of people are disturbed about what lies ahead. For one thing, there is the highly infectious Delta variant spreading nationwide. There is also the potential economic damage and the effects ECQ will have on many workers.

And then there is the local stock exchange. While many investors are constantly looking on different directions and varied factors to decide what to do with their respective investments, the COL Financial Group recently revised its end-of-the-year estimate for the Philippine Stock Exchange (PSE) but their new prediction still points to a higher count than what the current index shows.

To put things in perspective, posted below is an excerpt from the Philippine News Agency (PNA) article. Some parts in boldface…

Online stockbroker COL Financial Group expects the Philippine Stock Exchange index (PSEi) to end the year at 8,100, slightly lower than previously projected, supported by optimism for faster economic recovery and earnings growth.

COL chief equity strategist April Lynn Tan said their forecast for PSEi has been reduced from 8,300 considering the lower earnings incurred by property companies as their mall operations are affected most by the implementation of enhanced community quarantine (ECQ).

The National Capital Region (NCR) will be placed under the most restrictive ECQ from Aug. 6 to 20 to prevent the spread of the more infectious Delta coronavirus variant.

This, after the one implemented from May 17 to April 13, 2021 to stem the country’s coronavirus disease 2019 (Covid-19) surge.

We cut our earnings forecast and fair value estimates for the property companies given that they are part of a lot of the big holding companies that also dragged our fair value estimates. (But) an 8,100 target is still significantly higher from where we are today. That is why, we keep on saying that the negatives are priced in,” Tan said in a virtual press briefing Monday.

She said companies are “coping well” with the pandemic, adding that almost all sectors, except the property sector, reported higher year-on-year earnings.

“The reason why companies were able to deliver higher profits in the first quarter of this year compared to last year even though we are still in the pandemic is because they have adapted to the pandemic scenario by cutting cost and of course they also benefited from the lower tax rate, thanks to the CREATE (Corporate Recovery and Tax Incentives) law,” Tan said.

President Rodrigo Duterte last March 26 signed into law the CREATE Act reducing the corporate income tax rate by 5 to 10 percent for micro, small and medium enterprises (MSMEs) and other corporations.

Moreover, Tan said they remain bullish of the stock market on the back of efficient vaccination efforts and inflation reaching its peak.

Predicting the future is very unpredictable no matter what category gets discussed. Remember when the International Olympic Committee (IOC) predicted a brighter post-Olympics future for the city of Rio de Janeiro in relation to hosting the 2016 Summer Olympic Games? What happened after Rio Olympics were lots of unfulfilled promises, deteriorating facilities and a lot of embarrassment.

Going back to Philippine stocks, the COL Financial Group showed lots of details in their explanations of their 8,100 index end-of-2021 prediction. They were right to point to the CREATE Law which itself was a factor in the spike of foreign direct investments (FDI) in the country last April. The CREATE Law effectively reduced the corporate income tax rates for micro, small and medium enterprises (MSMEs). From this point on, it is interesting to see how the CREATE Law will impact the national economy and the local stock exchange in the months to come.

Let me end this piece by asking you readers: If you are an investor, what can you say about COL Financial Group’s end-of-the-year prediction for the Philippine Stock Exchange? Are you confident that the economic stakeholders, the businesses and investors will emerge stronger starting with the end of the next ECQ period until the end of the year? Is the CREATE Law positively impacting your business and/or investments?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

COVID-19 Crisis: ECQ for Metro Manila announced (August 6 to August 20, 2021)

A lot of people were very surprised yesterday with the sudden announcement that Metro Manila will be placed under the stricter enhanced community quarantine (ECQ) status effective August 1 until August 20, 2021 supposedly in connection to the rising spread of the highly infectious Delta variant (Parañaque and Las Piñas each have one) and COVID-19 cases in general. It is surprising because very recently it was announced that the National Capital Region (which Metro Manila is clearly part of) would be placed under the strict form of general community quarantine (GCQ) from August 1 to 15, 2021.

Take note that the Metro Manila mayors favored ECQ and even set terms that include the national government will provide financial assistance to their respective constituents plus millions of vaccines.

To put things in perspective, posted below is the excerpt from the Philippine News Agency (PNA) article about the sudden ECQ announcement. Some parts in boldface…

Metro Manila will be placed under the most restrictive enhanced community quarantine (ECQ) from August 6 to 20, Malacañang said on Friday.

This, after President Rodrigo Duterte approved the Inter-Agency Task Force for the Management of Emerging Infectious Diseases’ (IATF-EID) recommendation to impose the strict quarantine classification in Metro Manila.

In an announcement aired over state-run PTV-4, Presidential Spokesperson Harry Roque said Metro Manila will stay under general community quarantine (GCQ) “with heightened restrictions” from July 30 to August 5 and will shift to ECQ from August 6 to 20.

“Hindi po naging madali ang desisyon na ito. Maraming oras ang ginugol para pagdebatehan ang bagay na ito (It is not an easy decision. We have spent so much time to debate on the proposal [to place Metro Manila under ECQ]),” Roque said.

Metro Manila is currently under GCQ with heightened restrictions. Its quarantine status was supposed to be extended until August 15.

However, Metro Manila mayors have urged the IATF-EID to implement a two-week ECQ in the country’s metropolis to prevent the spread of the more infectious Delta coronavirus variant.

More restrictions

Roque said “additional restrictions” would be imposed in Metro Manila from July 30 to August 5.

The heightened restrictions for NCR are more stringent compared to the GCQ with heightened restrictions of other areas,” he said in a press statement.

Roque said indoor dine-in services and al fresco dining are prohibited and only take-out and delivery are allowed in Metro Manila.

“For people working in these establishments, operations are allowed to continue and finish within the day,” he said.

Personal care services like beauty salons, beauty parlors, barber shops and nail spas may operate up to 30 percent of venue or seating capacity, Roque said.

He added that indoor sports courts and venues and indoor tourist attractions and specialized markets of the Department of Tourism (DOT) may not operate, while outdoor tourist attractions, as may be defined by the DOT, will be allowed at 30 percent venue capacity.

Roque said only Authorized Persons Outside their Residences will be allowed to travel “into and out” of NCR Plus, which is composed of Metro Manila, Bulacan, Cavite, Laguna, and Rizal.

Only virtual religious gatherings shall be allowed. Gatherings for necrological services, wakes, inurnment and funerals for those who died of causes other than Covid-19 shall be allowed, provided they are limited to immediate family members, he said.

Avoid panic buying

Following the government’s decision to implement ECQ in Metro Manila from August 6 to 20, Roque reminded the public not to resort to panic buying.

“Meron naman tayong isang linggo para mag-prepara dito sa two weeks na ECQ. Wala pong dahilan para mag panic buying dahil maski ECQ po, bukas naman po ang ating mga groceries (We still have one week to prepare for the two-week implementation of ECQ. There’s no reason for panic buying because despite the ECQ implementation, groceries are still open),” he said.

Apart from Metro Manila, Iloilo province and its city, Cagayan de Oro City, and the City of Gingoog in Misamis Oriental have also been placed under ECQ from July 21 to August 7.

On Tuesday, Roque announced that individuals residing in Iloilo province and its city, as well as the cities of Cagayan de Oro City and Gingoog, will receive cash assistance worth PHP1,000 per individual or PHP4,000 per family.

When quizzed if Metro Manila residents would also be given financial aid, Roque said: “Most likely but will seek confirmation.”

And here are related news videos to watch…

Economic damage and losses very likely

While it is understandable that ECQ is a response to the Delta variant and COVID-19 problems, it is very clear that this will result more financial losses on businesses and damage the nation’s economy which itself has been struggling to stand up and grow. Take note that the more businesses lose money, it could lead to job losses and result in lower tax collection on the part of the national government and LGUs. For insight, posted below is an excerpt from another PNA article published before the ECQ announcement. Some parts in boldface…

Department of Trade and Industry (DTI) Secretary Ramon Lopez has thanked President Rodrigo Duterte for approving the recommendation of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) to put Metro Manila and nearby provinces under general community quarantine (GCQ) with heightened restrictions.

The economy cannot bear another massive lockdown. We lose around PHP30 billion for a two-week lockdown. Many lost their jobs, livelihood, most of them are micro (and) SMEs (small and medium enterprises),” Lopez said during the Laging Handa public briefing Thursday.

He said the recommendation of placing National Capital Region (NCR) Plus under GCQ with heightened restrictions is in accordance with the IATF’s consultations with reliable health experts.

“We really take a balance, a holistic approach,” he added.

Lopez underscored that the IATF enforces restrictions amid the threats of the more infectious Covid-19 Delta variant.

But the restrictions are focused on ‘super spreader’ activities like mass gatherings, while lockdowns will remain a granular lockdown approach, the DTI chief said.

He also called on businesses to create their own health and safety committee that will ensure minimum public health protocols are being monitored and maintained in their respective establishments.

COVID-19 vaccination operations will still continue

Meanwhile, COVID-19 vaccination operations will still proceed during the ECQ period. Check out this excerpt from the GMA Network news report below…

Malacañang said the government’s COVID-19 vaccination program will proceed in Metro Manila even if the region will be under the enhanced community quarantine (ECQ) from August 6 to 20.

Yes, definitely [it will proceed]. Details will be provided in due course of the COVID-19 vaccination committee,” Roque said.

Let me end this piece by asking you readers: Are you surprised about the sudden announcement of ECQ for Metro Manila? Do you believe that the Metro Manila Council (MMC) is correct that the national government should provide the financial aid and vaccines for their respective constituents?  Could it be possible that certain city governments or LGUs (local government units) of Metro Manila have ran out of funds and have no choice but to rely on the national government to provide for them?

If you are a business owner within Metro Manila, do you believe that August 6 is too early for the imposition of another ECQ? Do you think that the Metro Manila mayors spent enough time researching about the potential economic damage of the ECQ they pushed for?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673