business

PAL cancels flights till end May

May 18, 2020

IN the wake of the government’s extended lockdown, Philippine Airlines (PAL) the other night announced that all domestic flights to and from its hubs in Manila, Cebu and Clark will remain cancelled up to May 31, 2020.     However, the flag carrier is evaluating the possibility of flying international routes, as well as domestic routes, to and from its Davao hub, in coordination with concerned government authorities.     “We will announce any planned flights once these are finalized,” according to PAL’s statement. The continued pause in the airline’s Manila, Cebu and Clark hub operations is in compliance with the Philippine government’s declaration of the Modified Enhanced Community Quarantine and related local restrictions from May 16 to 31.     “We are in the process of notifying affected passengers by e-mail,” according to PAL.     The current ticket of passengers booked on a cancelled flight remains valid, the flag carrier clarified.     Starting June 1, 2020 onwards, PAL plans to operate reduced number of weekly flights on most domestic routes and on selected international routes.     However, this will still depend on COVID-19 conditions, such as community quarantine restrictions, travel bans imposed by various governments and their impact on passenger demand and the public health and safety situation in each of the countries that PAL serves.     The airline will announce the list of operating flights and routes for June 2020, once the details are finalized.     PAL will continue to operate occasional special flights to repatriate stranded passengers and to transport urgent cargo such as medical equipment and supplies to help sustain critical supply chains across the Philippines and on selected international routes.

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Ayala Corp. income down 17% as lockdown hits businesses

May 18, 2020

EARNINGS of Ayala Corp. (AC) dropped 17% to P6.7 billion in the first quarter as the coronavirus pandemic dragged its property, banking and industrial segments.     In a stock exchange disclosure on Wednesday, the listed conglomerate said its consolidated revenues fell 11% to P61.72 billion in the first three months of the year, reflecting the impact of government lockdowns across its business units.     If it were to isolate the estimated impact of the coronavirus crisis, AC said its net income would have been flat due to the P1 billion divestment gains from merging AC Education and iPeople last year.     The company’s costs and expenses during the period fell 10% to P45.64 billion. Capital expenditures for parent-only businesses stood at P6.9 billion.     By business segment, real estate arm Ayala Land, Inc. posted the largest profit drop of 41% to P4.3 billion. This is attributable to the 38% lower property development revenues at P17.2 billion due to the eruption of Taal volcano in January. Leasing revenues from shopping centers and hotels also fell 9% and 17% to P4.6 billion and P1.6 billion, respectively, because of the enhanced community quarantine (ECQ) in mid-March.     Banking unit Bank of the Philippine Islands booked 5% lower net earnings at P6.4 billion, traceable to its aggressive provisioning during the period. The company posted P4.2 billion in loan-loss provisions as it expected an increase in non-performing loans because of the pandemic.     Profits of telecommunications arm Globe Telecom, Inc. slipped 2% to P6.6 billion due to higher depreciation from network investments and an increase in non-operating charges. Its capital expenditures rose 22% to P10.7 billion to support higher demand for data-related services.     Power segment AC Energy Philippines, Inc. swung to a profit  of P1.96 billion from a net loss of P2 million last year. This was driven by the P1.3-billion pre-operating revenues from its Mindanao-based subsidiary GN Power Kauswagan Ltd. Co., on top of the recovery of costs it incurred from adjustments in the construction and operations of its power plants.     Water unit Manila Water Co., Inc. posted a 4% net income growth to P1.3 billion due to non-recurring events of paying a regulatory penalty and waiving water bills last year. Its revenues rose 9% partly due to higher billed volumes.     Industrial segment led by AC Industrials saw a net loss of P564 million on the back of a global slowdown. Integrated Micro-Electronics, Inc. booked a net loss of P235 million, largely due to the lockdown of its facilities in China in February. AC Motors posted a net loss of P204 million, mostly due to the closure of its Honda Car Philippines facility in Laguna.     “While the outlook for the business environment has fundamentally changed as a result of this crisis, we take comfort in the fact that we have always maintained a strong balance sheet that provides us with flexibility as we navigate the uncertainties,” Ayala President and Chief Operating Officer Fernando Zobel de Ayala said in a statement.     “[W]e have put in place a health protocol to ensure the re-entry of our workforce in a safe and productive way… We believe this is a critical step as our businesses readjust to this new environment,” Ayala Chairman and Chief Executive Officer Jaime Augusto Zobel de Ayala added.

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Suzuki Introduces New Online Auto Loan Feature

May 18, 2020

Suzuki Philippines Inc. (SPH), the pioneer compact car distributor in the country, brings good news to its avid customers and to those looking into purchasing their own automobile with the new Auto Loan feature found on their official website. With this new addition to one of its many available services, getting a new car is now a few clicks away!      SPH just launched a new feature on their website allowing customers to be able to apply for auto loans online. In partnership with banks including Bank of Commerce, Bank of the Philippine Islands, Chinabank Savings, East West Bank, Maybank, PS Bank, RCBC, Robinsons Bank, UCPB, and Yulon Finance, the Auto Loan Feature directs customers to their preferred bank’s website page dedicated for auto loans. Once accomplished by interested patrons, their bank of choice will be able to review and grant them the loans if eligible as they are in operation.      This new online service presented by Suzuki Philippines is an effort to provide ways to serve its customers by being reachable amid the current situation in the country brought upon by the COVID-19 pandemic. The decision to launch the online Auto Loan service with the help of dependable financial institutions is rooted from the realization that during this time of uncertainty, consumers are longing for a sense of security and reliability, more than just the product itself. SPH believes that their vehicles across different segments may provide this longing by staying committed in championing the Suzuki Way of Life! to the Filipino people and relentlessly finding solutions especially when people are now more than ever, highly concerned about where to tunnel their investments that will prove to be beneficiary to them even after these challenging times.

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Kawasaki Joins the Fight Against Covid-19 by Producing Medical Face Shields for Donation

May 18, 2020

Kawasaki Heavy Industries (KHI) has begun manufacturing medical face shields and gowns at our Kobe and Harima factories, and has been donating them to medical facilities since the 20th of April.     Up to 500 medical face shields can be made per day using the transparent pattern film used for steel processing, and up to 1,400 medical gowns can be produced per day based on the guidelines by Osaka University Hospital. We have been donating the supplies to Kawasaki Hospital (Kobe City) since 20th April, and plan to supply to other prefectural hospitals as well through the Hyogo Prefecture Hospital Bureau.     KHI would like to express their appreciation for the medical staff who have been devoting themselves on the frontlines. By utilizing their design, production and quality control techniques to efficiently produce medical face shields and gowns for donation to medical institutions, they hope to contribute to the prevention of the spread of COVID-19.     KHI also reaches out to those who have lost loved ones to COVID-19. They sincerely hope that those currently suffering from the virus will recover quickly, and that the spread of COVID-19 will end as soon as possible.

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Teleconsultation comes to the aid of non-Covid patients

May 16, 2020

[14 May 2020] CAGAYAN DE ORO CITY—While most businesses are shuttered, and office employees are working from home, the medical community must work hard to stay open to patients yet be tightly guarded by Covid-19 restrictions. The challenge for doctors is how to continue treating their patients even though their clinics are closed.  How can they “meet up” with patients without exposing themselves and their families to the risk of infection? Technology provides a solution: teleconsultation.  It minimizes the need to travel and face to face contact, thus protecting both the patients and health professionals from exposure to health risks.  For the first time in her 30-year practice, Dr. Corazon Mata attends to patients remotely. She is in charge of the obstetrics and gynecology hotline for the Telekonsulta Service of the Northern Mindanao Medical Center (NMMC).  Every day, she fields queries from ob-gyn patients all over Region 10, which covers the provinces of Misamis Oriental, Misamis Occidental, Bukidnon, Camiguin and Lanao del Norte. With the rapid spread of Covid, other health cases have been overshadowed, with many hospitals like NMMC recording a significant drop in patient consultations at the emergency room and out-patient clinics. The NMMC is a tertiary public hospital and one of the Covid referral centers in the region of 5 million. “This is the main reason we decided to start the NMMC Telekonsulta Service,” says Dr. Aris Austria, Telekonsulta project leader. “We were concerned particularly for our patients with chronic conditions requiring long-term medical care. Every healthcare facility should not focus only on handling the Covid-19 crisis but also consider minimizing ‘collateral damage’ on non-Covid patients.”  The NMMC Telekonsulta Service targets noncritical cases and aims to provide a venue for patients to directly consult medical professionals through their mobile phones.  Smart Communications partnered with the hospital by providing them with LTE phones capable of unlimited texts and calls to all networks and data connection. Each phone was assigned to doctors handling a specific field of specialization, such as pediatrics, obstetrics and gynecology, surgery or internal medicine. Since the start of the project in late March, the NMMC doctors have collectively handled more than 400 consultations, sent out almost 200 electronic prescriptions and facilitated around 50 referrals. They have also set appointments for actual clinic consultations for cases where a clinic visit is absolutely necessary. “A good part of diagnosing a patient is doing a complete physical,” says Dr. Ramon Yap, an internist-gastroenterologist. “But I believe the majority of patients can be safely managed through teleconsultation, albeit some patients may really have to be seen by a doctor in a clinic or referred to an appropriate institution like NMMC.” The experience is new to his 17-year practice, but he says doctors have to adapt. “The threat to the doctors is very real. We also have to think about protecting ourselves and our families, aside from trying to give comfort and healing to our patients. The limited resources that we have in our locality has made the practice of medicine very daunting and probably even unsettling.” As of the first week of April, the Department of Health (DOH) Region 10 had identified more than 4,000 persons under monitoring and around 300 under investigation. With more cases of Covid-19 positive patients and new admissions of suspected cases, the region’s health officials are not letting their guard down. The doctors admit that there are limitations to what they can perform without a face-to-face interaction, but they are finding ways to cope with this. Dr. Austria, a pediatrician, reports that teleconsultation has necessitated more parental engagement. He tells parents, “listen to the child’s breathing, feel their skin or pulse, touch the tummy, and describe what you find.” It is not the ideal way of examination, he concedes, so doctors should be cautious in utilizing information drawn from a teleconsultation to diagnose a patient’s condition. Pediatrics has the highest number of consultations. Dr. Jannie Lyne Palisbo, whose clinic is closed, is grateful that she can continue to treat her patients from home. “It is reassuring to both the patient and us physicians,” she says. Dr. Austria opines, “Teleconsultation should remain an option for patients under any circumstances that call for it, to hasten medical interventions, and to keep NMMC accessible to all the people in Region 10.”  With doctors and patients engaged in a back-and-forth exchange of information during teleconsultation, he appreciates that Smart ensures unhampered communications. The unlimited texts and calls are “a huge advantage,” enabling doctors to attend to as many patients as possible, he adds. Dr. Peter Quiaoit, NMMC medical training officer, also thanked Smart for making the out-patient department services “a phone call away” in the time of crisis.  “Smart is committed to providing innovative communications solutions that help fight the Covid pandemic.  The NMMC has taken a new path, using technology to enable their doctors to treat patients despite the current restrictions.  That’s why we are quite happy to support their initiative,” said Mon Isberto, Smart public affairs head. This being the institution’s first time to implement teleconsultation, the Telekonsulta team faced a lot of challenges, including a lack of proper guidelines or standard operating procedures, especially in consideration of patients’ informed consent and data privacy. Dr. Austria adds, “We also lacked essential materials, gadgets and enough volunteers to keep teleconsultation running. However, with support from our hospital administration and private companies like Smart, we were able to set it up eventually.” With the proper equipment and appropriate systems in place, teleconsultation will surely be part of the future of medical practice. As access to the internet and data-capable phones increases, there will be huge improvements in teleconsultation results, lowering the risk of misdiagnosis. With the Covid-19 pandemic far from over, and the risks remaining for even longer, interventions such as this will become part of the new normal, and technology will play a huge part.

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Food industry expects minimal impact on food supply amid ECQ

May 15, 2020

THE country's food industry such as Aboitiz food business unit Pilmico Foods Corporation echoed the government's assertion on sufficient food supply amid uncertainties brought about by the coronavirus disease 2019 (Covid-19) pandemic.     “Pilmico’s business continuity plans are in place and running, and this has allowed us to operate business as usual to meet the needs of our stakeholders," said Tristan Aboitiz, president and CEO of Pilmico Foods Corporation, in a statement on Tuesday.     "We have rigorously implemented our strict biosecurity processes to ensure the safety of our teams who report to work, and our supply chain has remained largely intact during the various ECQs (enhanced community quarantine) that have been implemented across the country. This means that our facilities are prepared to continuously cater to the requirements of our customers, which should allow us to deliver our products and meet their needs,” he said.     During the last meeting of the Inter-agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID), the Department of Agriculture (DA) presented the food supply outlook for 2020, with most commodities actually forecast to end at a surplus by year-end.     In April, the DA was assigned to chair the Task Group on Food Security created by the IATF-EID.     According to the adjusted DA report, the projected supply by the end of December 2020 will be 94 days worth for rice, 234 days for corn, two days for fish, six days for vegetables, and 253 days for chicken.     Pilmico assured the public and its stakeholders that its operations remain normal.     “As a leadership team, we have spent the last few weeks learning as much as we can about the disease, and assessing how it has impacted and will continue to impact our industry. It is critical that we understand how it affects our team members, customers, and communities, so we can make the necessary changes to different aspects of our operations,” Aboitiz said.     “Our company remains committed to helping sustain the food value chain by consistently being present and delivering raw materials needed to continue food production,” Aboitiz said.     “The flour and feed mills in Iligan and Tarlac, as well as farms, continue to operate, serving the needs of the customers despite challenges in logistics and distribution which can be attributed to COVID-19,” he added.     Aboitiz said that Pilmico’s Southeast Asian facilities are operating normally as well.     Last year, the company fully acquired Gold Coin, an international food group that operates within Southeast Asia (SEA), making Pilmico a significant regional player.     “We are currently focused on ensuring that our current production facilities across the (SEA) region are optimized and that utilization is maintained at a high level so that we can adequately cater to the needs of our customers,” said Pilmico and Gold Coin Food Group President and CEO Hubert de Roquefeuil.     “Needless to say, this includes integrating seamlessly with Food Group Philippines, in order to optimize synergies in procurement and cross-selling across countries,” he said. (PR)

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