BusinessMirror July 11, 2024 by BusinessMirror

DESPITE global uncertainties, investors remained conﬁdent as the country’s foreign direct investments (FDIs) reached US$3.525 billion from January to April this year, according to Bangko Sentral ng Pilipinas (BSP).

Latest data from the BSP showed the cumulative FDI net inflows for the four-month period rose by 18.7 percent to US$3.525 billion from US$2.971 billion in the same period a year ago. For the month of April, FDI net infl ows decreased to US$556 million, down by 36.9 percent from the US$881 million net infl ows recorded in the same month in 2023.

The BSP credited the decline in FDI net inﬂows in April due to the nonresidents’ net investments in debt instruments, lower by 38.8 percent to US$407 million from US$665 million in April 2023.

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said FDIs in April are the slowest in 10 months or since June 2023, at the height of risk aversion brought about by geopolitical risks such as the direct attacks between Iran and Israel.

“Though still wait-and-see if net FDI inﬂows would revert back to prepandemic levels in the coming months; as a pick up/improvement in FDI data later in 2024 could be supported by the possible local policy rate cut of -0.25 as early as August 2024,” Ricafort added. Nonresidents’ net investments in equity capital (other than reinvestment of earnings) declined by 48.1 percent to US$68 million from US$132 million in 2023. However, it posted a growth of 149.1 percent to US$978 million in 2024 from $393 million in 2023. In April 2024, placements went down by 47 percent to

By Samuel P. Medenilla @sam_medenilla & Reine Juvierre S. Alberto @reine_alberto

PRESIDENT Ferdinand R. Marcos Jr. has called on dam operators to go beyond just water distribution and help in ensuring the country’s climate resilience as well as food and energy security by upgrading their facilities.

During the inauguration of the impounding process ceremony of the Upper Wawa Dam in Rodriguez, Rizal last Wednesday, the chief executive highlighted

the importance of increasing the country’s multipurpose dams to eﬃciently use the country’s limited water resources.

“Water is a ﬁ nite resource while the demand for it is ever increasing. We need to use water wisely, as many times and for as many purposes as possible,” Marcos said.

“We need to build more multipurpose dams to ensure water supply not only for drinking but also for irrigation, power generation, ﬂood control, aquaculture, and hopefully other technologies that we may engage in the future,” he added.

He cited the Upper Wawa Dam as an example of such a multipurpose dam, which has other functions aside from providing for the water needs of the 2.2 million to 3.5 million people within the Metropolitan Waterworks and Sewerage System (MWSS) area.

The P26.5-billion facility will generate 600-megawatt energy once it ﬁ lls up its over 400-hectare reservoir.

It will also enhance the climate resilience of the communities it serves by being a ﬂood-control structure and providing them with a reliable source of water during

droughts. The PPP project is being led by Prime Infrastructure Capital Inc. and San Lorenzo Ruiz Builders and Developers Group through their joint venture—Wawa JVCo Inc. Razon-led infrastructure arm Prime Infrastructure Capital Inc. builds assets that support the sustainability priorities of the country such as clean, access to clean water and waste management, among others. The bulk water supply project will also include another Prime Infra-led 600-megawatt Wawa

By Samuel P. Medenilla @sam_medenilla

FFICIALS of the Com-

Omission on Elections are ready to defend themselves against impeachment complaints in relation to the P18-billion Full Automation System with Transparency Audit/Count (FASTrAC) contract, its leadership said Wednesday, as he asked the Antimoney Laundering Council (AMLC) to check accounts being linked to him and supposedly holding bribes from that transaction.

In a radio interview on Wednesday, Comelec Chairman George M. Garcia said he received information that is the next phase of what he earlier called a demolition work against the poll body.

He noted the ﬁ rst part was the allegation of Sagip Party-list Rep. Rodante D. Marcoleta that a Comelec oﬃcial had received cash in his

49 oﬀshore accounts before the FASTrAC contract was awarded to the Joint Venture (JV) led by the Korean ﬁ rm Miru Systems Co. Ltd.

Last Tuesday, Garcia said he was the Comelec oﬃcial being referred to by Marcoleta, but he denied he owned any of the said accounts and that he got any bribes in relation to the FASTrAC contract.

“It will not stop with the attempt to demolish my personality...The other individual members of the commission [en banc] also have white papers. Th is will be followed by impeachment complaints against us,” Garcia said.

Marcoleta said there are

grounds for the possible impeachment of the members of the Comelec en banc for approving the FASTrAC contract, which he claimed violated Republic Act No. 9389 or the Election Automation Law.

Garcia, however, assured the public that the FASTrAC contract is legal.

“Th is we can guarantee the people. Do not worry about us. We can defend ourselves. We have done nothing wrong. The allegations against us are untrue and we have nothing to worry about. We are focused on [our preparation] for the election year 2025,” Garcia said.

The poll chief said he already asked the National Bureau of Investigation (NBI) and the Anti-Money

TBy Ada Pelonia @adapelonia

HE average wholesale price of regular milled rice jumped by nearly a quarter in June, according to the latest data released by the Philippine Statistics Authority (PSA). Based on the data, the average price of regular milled rice nationwide reached P46.52 per kilo in June 2024, higher than the P37.24 per kilo in June 2023.

The fastest increase in regular milled rice is in the Cagayan Valley, where the price of the staple surged 37.2 percent. The PSA said this was followed by the National Capital Region (NCR), where regular milled rice prices soared 34.8 percent in June 2024.

“Wholesale price refers to the price of commodity transacted in bulk for further resale or processing. It is the actual ‘spot’ transaction price received usually by the wholesalers, distributors, or marketing agents for large lots but net of discounts, allowances, and rebates,” the PSA explained.

Average rice wholesale price jumps 24% in June

However, the average price in June was 1 percent lower than the P47 per kilo recorded in May.

In NCR, the average price of regular milled rice was P43.13 per kilo in June 2024, signiﬁcantly higher than the P32 per kilo level recorded in June 2023.

However, this was 11.1 percent lower than the P48.50 per kilo average recorded in May 2024.

PSA data showed regular milled rice wholesale prices in Central Visayas averaged P52.75 per kilo in June 2024, higher than the P40.47 per kilo posted in June 2023.

The wholesale rice prices in Central Visayas registered a 0.2-percent increase from the P52.66 per kilo in May 2024.

PSA said the monthly data on the wholesale selling prices for agricultural commodities are obtained from the results of the Wholesale Selling Price Survey conducted every week of the reference month.

PBBM wants MSME Devt Plan sustained after 2028

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Ferdinand R. Marcos

Jr. said he will issue a new Executive Order (EO) to institutionalize government measures to boost the competitiveness of micro, small, and medium enterprises (MSME).

The new issuance, he said, will help in the continuation of the MSME Development Plan (MDP) 2023-2028 after his administration.

The MDP is a roadmap on how to improve MSME performance by

providing them with a conducive business environment, enhancing the skills and innovation of their workforce, and expanding their market access.

“We will be institutionalizing this plan through an Executive Or-

der that will set the speciﬁc roles and outline the procedures and activities for all involved agencies,” Marcos said during the 2024 awards for outstanding MSMEs and Presidential recognition for outstanding development partners in Malacañang last Wednesday.

“Currently, the DTI [Department of Trade and Industry] is working with the MSME Development Council and the Oﬃce of the President to ﬁ nalize this Executive Order,” he added.

Among the ongoing initiatives of the DTI to promote the best practices for MSMEs is its 2024 Presidential Awards for Outstanding MSMEs.

The recipients of the award this year are the Kawayan Collective Agricultural Cooperative of Vi-

sayas for the small enterprise category; and the Malagos Agri-Ventures Corporation for the medium enterprise category.

Marcos noted that MSMEs have shown “excellent capacity not only in generating revenue but also in encouraging sustainability, social justice, and ecological awareness in all that they do.”

“Truly, they show us what an ideal local enterprise should look like—environmentally conscious, community-driven, and socially responsible,” he said.

Latest data from the DTI showed that MSMEs comprise 99.59 percent of the 1,109,689 registered establishments in the country as of 2022.

MSMEs also provided employment to over 5.6 million people.

JAN-APRIL FDI UP 18.7% TO $3.5B DESPITE RISKS

percent from January to April 2024 to US$1.213 billion from US$535 million in 2023. BSP data also showed withdrawals reached decreased by 41.7 per-

cent in April 2024 to US$16 million from US$27 million in the same month a year ago. Withdrawals in the four-month period grew by 65.2 percent to US$235 million from US$142 million in the same period in 2023.

Meanwhile, BSP said reinvestment of earnings decreased by 4.2 percent to US$81 million in April 2024 from $84 million in April 2023 and posted a ﬂ at decline of 0.1 percent in the ﬁ rst four months of 2024.

The BSP said equity capital placements in April 2024 were sourced largely from Japan, which accounted for 47 percent of total FDIs during the month.

Th is was followed by the United States with 21 percent of the total FDIs in April and Malaysia, which accounted for 11 percent of investments during the period, and Singapore with 9 percent.

In the four-month period, the data showed that 63 percent of the total FDIs for the quarter came

from the Netherlands, 22 percent came from Japan and 6 percent from the United States.

“Th is improvement reﬂects investor conﬁdence in the Philippine economy’s resilience amid global uncertainties,” the BSP said.

The top industries where FDIs were invested in for April 2024 were manufacturing at 36 percent of the total, followed by real estate, 26 percent; others, at 14 percent; wholesale and retail trade at 13 percent; and ﬁ nancial and insurance, 10 percent.

In the ﬁ rst four months of the year, majority, or 67 percent, of FDIs were poured into ﬁ nancial and insurance followed by manufacturing at 18 percent; others, 8 percent; and real estate, 7 percent.

Check my accounts, Garcia asks AMLC

Continued from A

Laundering Council (AMLC) to investigate the said 49 accounts, which are being linked to him.

He urged NBI and the AMLC to fast-track the investigation since it has potential implications on the integrity and independence of Comelec and the electoral process.

“The public’s trust in our democratic institution is paramount, and there is an urgent need for the public to be informed of the out-

come of this investigation,” Garcia said in his letter to the AMLC dated 10 July 2024. His letter to the AMLC also included a “Sworn Waiver of Secrecy of Bank Deposits” on the 49 oﬀshore bank accounts allegedly under his name as well as his “Afﬁdavit of Denial” that he received bribe money.

“If they ﬁ nd out I owned at least one of the said accounts, I will resign from the Commission,” Garcia said.

PRC video on disaster survival tips is unveiled

By Claudeth Mocon-Ciriaco @Claudethmc3

HOW to survive in the event of an emergency or disaster?

The Philippine Red Cross (PRC) has produced videos highlighting the importance of preparation and safety for everyone at any given time. It was unveiled in time for the National Disaster Resilience Month, “Disaster Wais Series” videos, showing what to do when disaster strikes and how to be prepared to survive.

“No one will take care of you better than yourself. Th at’s why every Filipino must learn the 4Ps: predict, plan, prepare, and practice to be safe in times of disasters and emergencies. The Red Cross is not only here for you, and anyone can join us by being a volunteer. Here, you’ll learn life-saving skills and develop the values of kusang-loob, malasakit at kapwa tao,” said PRC Chairman and CEO Richard Gordon.

Kicking oﬀ the series is Episode

1: Go Bag—which demonstrates what one should have inside a Go

PBBM HAILS UPPER WAWA DAM’S SERVICE

Pumped Storage Power Project, making it a unique water supply-renewable energy storage industrial complex. Together with the Department of Environment and Natural Resources (DENR), WawaJVCo is also implementing a watershed management plan that involves reforestation activities around the site of the Wawa Bulk Water Supply Project covering 1,800 hectares.

The dam features a 450-hectare reservoir, which can store up to 120 million cubic meters of water—about twice the size of Bonifacio Global City. The dam also has a ﬂood control component to mitigate the ﬂooding in the downstream areas and localities of the Marikina River.

The ﬁ rst phase or the 25-meter high Tayabasan Wei dam was already completed in October 2022 and is now delivering an initial 80 million liters per day of water supply. Overall, the Wawa Bulk Water Supply Project can increase water supply service to up to 710 million liters per day in the succeeding years. It is projected to generate 438 million liters of water per day once the dam starts its commercial operation next year and can increase to 710 million liters per day in the following years.

“The Upper Wawa Dam will be the biggest water source to be built in the country in over 50 years, next to the Angat Dam,” Marcos said.

Bag or Emergency Kit: Drinking water and collapsible water container at least 1 gallon per day/per person for ﬁve days

Non-perishable food for three days

Eating utensils

Flashlight Portable radio

Extra batteries for ﬂ ashlight and radio

First-aid kit with essential medicines and face masks

Personal documents (IDs, bank records)

Personal hygiene items (soap, toothbrush, sanitary products)

Whistle Candles with matches

Clothes, shoes, blankets, mats, Trash bags

The PRC said these are the essentials of emergency preparedness in a Go Bag, whose crucial supplies will help one survive a disaster situation, until help comes.

The Red Cross reminded everyone to be safe and always be “Disaster Wais”—at all times.

DOF hails collaborationpublic-private MEANWHILE, the Department of Finance (DOF) assured the public its continuous collaboration with the private sector to create an environment where critical and sustainable projects such as the Upper Wawa Dam project can thrive.

Finance Secretary Ralph G. Recto said on Wednesday at the impounding process ceremony of the Upper Wawa Dam in Montalban, Rizal, that the project will not only ensure water security for Filipinos but also create job opportunities for the local communities.

“Th is milestone is another testament to the great teamwork between the government and the private sector in accelerating the delivery of urgent infrastructure projects nationwide,” Recto said.

Senate panel cites Guo, 7 others in contempt

By Butch Fernandez @butchfBM

THE chairwoman of the Senate committee investigating alleged criminal activities being committed inside illegal Philippine Oﬀshore Gaming Operations (Pogo) hubs ruled to cite in contempt the suspended mayor of Bamban, Tarlac, Alice Guo, and seven others for snubbing Wednesday’s hearing at the Senate.

On a motion by Sen. Sherwin Gatchalian and Senate President Pro Tempore Jinggoy Estrada, the panel chairwoman, Sen. Anna Theresia “Risa” Hontiveros, said the snubbing by the eight of the Senate subpoenas is unacceptable.

Estrada also moved to issue a warrant of arrest against Guo, to compel her to attend the next hearing, and for the Senate to arrange for a government doctors to examine her as she has claimed unfitness to testify, citing “mental health” problems.

Sen. Nancy Binay, citing the letter of Guo to senators, said Guo’s claim

that she is “mentally unfit” to testify insults people with real mental health issues.

Hontiveros asked the Bureau of Immigration to check if Guo, whom Philippine authorities alleged to be a Chinese national who faked her Philippine citizenship in order to stay and engage in business the country and even run for mayor in 2022, had fled abroad. However, lawyer Omer Arellano of the BI said per their latest check as of Tuesday, “she has no record of departure yet.”

Besides Guo or Guo Hua Ping (her Chinese identity as confirmed by

NBI through fingerprint examination), cited in contempt are former Technology and Livelihood Resource Center (TLRC) deputy director general Dennis Cunanan, Guo’s associate Nancy Gamo, Wenyi Lin, Guo’s three siblings—Siemen Leal Guo, Sheila Leal Guo and Wesley Leal Guo—and Chona Alejandre.

Also at Wednesday’s hearing, the NBI testified that the test they used showing the perfect match between the fingerprints of Mayor Guo and Guo Hua Ping—the Chinese dependent of an investor visa holder is “incapable of error.”

It is a “unique identification.”

One’s fingerprint cannot be forged.

“Handwriting can be forged, but not fingerprints,” an NBI questioned documents expert said.

The Commission on Elections (Comelec) meanwhile said the newly created fact-finding committee assigned on the case of Guo is expected to wrap up its investigation this month.

Comelec Chairman George M. Garcia said he gave the committee led by the Comelec Law Department to gather pieces of evidence to determine if Guo committed material misrepresentation in her Certificate of Candidacy (COC) for the 2022 polls.

“We can say the result will be out in two weeks because I will personally follow it up to fast-track the process,” the poll chief told reporters in

an interview.

“The people can be assured that we are doing this not just to get attention because we don’t want to be accused by the public of why Comelec is being lax [with its rule enforcement,” he added.

The committee will comparing the fingerprints submitted by Guo in her COC and application for registration with that obtained by the National Bureau of Investigation (NBI).

Citing documents it has obtained from the Board of Investments and the Bureau of Immigration, NBI earlier announced Guo has the same fingerprint as Guo Hua Ping, a Chinese national, who entered the country on 12 January 2003.

“If all of the four [fingerprints] will match, that means we are talking about the same person. And that same person we are talking about, who ran [in the 2022 polls], is not a Filipino,” Garcia said.

He clarified that the investigation being conducted by Comelec will run independently with the probes being conducted by the Senate and the Office of the Solicitor General (OSG) related to Guo.

The OSG has filed a petition for the cancellation of Guo’s birth certificate.

Guo is also facing a human trafficking case from the Department of Justice (DOJ) owing to her alleged involvement in an illegal Pogo hub in Bamban. With Samuel P. Medenilla

Marcos orders DOJ, Natl Police to ensure safety of

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Marcos on Wednesday ordered the Department of Justice (DOJ) and the National Police to submit their recommendation on how to better ensure the safety of prosecutors.

“Prosecutors are vital to the administration of justice. Given this role, we recognize the threats that you face in this line of duty,” Marcos said during the signing ceremony of the 2024 Department of Justice-National Prosecution Service (DOJ-NPS) Rules on Preliminary Investigations and Inquest Proceedings in Malacañang on Wednesday.

Last month, Assistant Provincial

MILAN—From the speeches to the ecumenical prayers to the parade by Filipino Community organizations to the cultural performances and celebrity show that followed, it was the West Philippine Sea that took center stage in the commemoration in Milan of the 126th anniversary of Philippine independence. “Naiskongiparatingsainyonaangating pamahalaan ay patuloy na naninindigan, lumalabanathindinatitinagsamgapanggigipit,harassment atbullying naginagawa ng China sa ating mga magigiting na miyembrongatingSandatahang Lakas atCoast Guard patinarinsaatingmgakababayang mangingisda,” said Senate President Pro Tempore Jinggoy Estrada, who was the guest of honor in the two-day Sandiwa Fiesta Europa event at the Parco Idroscalo.

“Ang West Philippine Sea ay atin at ipaglalaban natin ito. Hindi lamang ito parte ng ating teritoryo; bahagi rin ito ng atingpagkakakilanlanatsoberanyakaya’t patuloy ang ating gobyerno na lumalaban para sa ating karapatan,” Estrada told the crowd who included Filipinos from other parts of Italy, Europe the United States, and the Philippines.

In the ecumenical prayers during Sunday’s commemoration, Fr. Noel Osial of the Filipino Chaplaincy and Pastor Benny Alcantara of the Jesus is Lord Church urged the faithful to seek divine protection for the Philippines and for Filipino troops stationed in the West Philippine Sea.

Philippine Consul General Elmer G. Cato said more than 15,000 Filipinos took part in the event that was organized by the

Prosecutor Eleanor dela Peña was shot and killed in her car in Digos City.

The police have arrested Arnel dela Peña, the half-brother of the victim, as the suspect behind the killing.

Marcos said the new rules on criminal investigation of the DOJ will help empower prosecutors by allowing them to take the lead in criminal investigations, “ensuring that there is proper and sufficient case build-up before filing in court.”

But at the same time, the rules will also make prosecutors more accountable to the public by setting the period set in resolving preliminary investigation complaints, according to the President.

“The 2024 DOJ-NPS Rules are transformative as they institutionalize the

Philippine Consulate General in Milan and the Kalayaan 2024 Organizing Committee of the Bayanihan Council of Northern Italy. He said Sandiwa is one of the largest Independence events outside the Philippines.

In the parade on Sunday, participants flashed the “W” sign with their three middle fingers raised and shouting “Atin angWest Philippines Sea!” as they passed in front of the grandstand. Even celebrities who performed on stage, including vocalist Wency Cornejo, flashed the W sign while others in the grandstand unfurled large streamers that say “Amin angWest Philippine Sea!”

The Bayanihan Council, the umbrella organization of the Filipino Community in Northern Italy, also circulated leaflets in Filipino, English, and Italian denouncing recent Chinese actions in the West Philippine Sea.

“We express our collective outrage over the illegal occupation by China in the West Philippines Sea and the bullying tactics it has been employing against the Philippines and the Filipino people,” the Bayanihan Council said.

“We condemn the dangerous and aggressive actions of China in recent weeks that include the firing of water cannons and other forms of harassment against Philippine Coast Guard and civilian vessels and personnel carrying out resupply missions, medical evacuations, and research work and against our fishermen who are fishing within our exclusive economic zone in the West

Sea,” their statement added.

executive and inquisitorial nature of preliminary [investigations], bringing them in line with historical and legal precedents that reinforce the authority of the Department of Justice,” Marcos said.

Under the new rules, the quantum of evidence was elevated from probable cause to prima facie evidence with a reasonable certainty of conviction.

“This means that only strong cases are brought to trial, reducing frivolous suits and malicious prosecution that clog our courts,” Marcos explained.

The DOJ-NPS Rules allows the submission of additional documents, enabling a more comprehensive examination of the case, while also improving inquest proceedings by providing a

prosecutors

detailed process for handling warrantless arrests, including the filing of referral letters, submission of required evidence, provisional determination of arrest validity, and submission of lacking evidence.

It also has provisions on the use of electronic-filings and virtual hearings.

“And through this [new rules], we aim to make our justice system more efficient by streamlining processes, cutting down delays, [and] making justice more accessible to everyone,” Marcos said.

Prior to the issuance of its new rules, the DOJ used the guidelines on Preliminary Investigations and Inquest Proceedings of the Supreme Court.

Spend part of Pogo revenues on law enforcement–legislator

By Jovee Marie N. dela Cruz @joveemarie

WITH the economic team still deliberating on the proposed ban on Philippine Offshore Gaming Operators (Pogos), the House Committee on Ways and Means chairman suggested a strategic approach to bolstering law enforcement by reinvesting a portion of the increased internet gaming tax revenues into enhancing law enforcement capabilities, particularly in intelligence gathering and infiltration.

In response to the growing calls for the closure of Pogos, Albay Rep. Jose Ma. Clemente Salceda made a strong case for their continued operation, provided they adhere to legal and tax obligations.

“Here’s my suggestion to my friend, [Finance] Secretary [Ralph] Recto, and the economic team: Let’s plow back some of the increased internet gaming tax revenues on improved law enforcement, especially in intelligence gathering and infiltration. The best time for it is the upcoming budget season when we return from our session break,” Salceda said.

At the same time, he issued a warning about the potential repercussions of a complete closure, stating that it would force capital and businesses into the illicit market.

“Secretary Recto’s reasoning is correct: If they are not engaged in illegal activities and if they pay their taxes, then licensees should be allowed to continue operating,” Salceda stated.

“My stance has always been this: close down the bad ones, as you would in any industry.”

“If you close down the whole sector, good players and bad, you put to waste all the efforts of the Marcos administration to crack down on the bad players,” he asserted.

Salceda stressed that under the administration of President Marcos, the Philippine Amusement and Gaming Corporation (Pagcor) has successfully cracked down on illegal Pogos, leading to a significant increase in tax compliance and cooperation among remaining licensed operators.

“The evidence is this: Pagcor under the Marcos administration has been succeeding in stamping out illegals, and the remaining licensed operators are proving more tax-compliant and cooperative with law enforcement,” he added.

Since Pagcor intensified its efforts against illegal Pogos, tax and regulatory fee collections have seen a dramatic increase despite a reduction in the number of licensees, said Salceda.

“Before Pagcor’s stricter rules were put in place, there were 158 licensees paying just P2.99 billion in fees. Now, there are just 87, and they pay Pagcor P5.17 billion in fees,” Salceda noted. He added that the impact on tax revenue has been even more significant.

“At the height of Pogos in 2019, there were 298 licensees that paid P6.42 billion in total taxes. Now, with just 87 licensees, internet gaming licensees have paid P10.3 billion in taxes,” Salceda reported. Salceda also highlighted the shift in the workforce demographics within the legal Pogo sector.

“The legal sector is now also becoming less and less Chinese and more Filipino. Filipinos now account for as many as 25,000 direct Pogo employees, with Vietnamese nationals now also outnumbering Chinese nationals. Among indirect hires, Pagcor cites indirect industry estimates that put the number of indirect offshore online gaming workers at close to 100,000, of which roughly 65,000 are Filipinos and 30,000 are foreign nationals,” he explained.

“If you close down the whole sector, the aliens, the existing Pogo clientele, and the hardware and investments already made will have nowhere to go but the illegal sector. It’s going to be a disaster we are ill-equipped to address. Our law enforcement does not have the resources, the capabilities, or even the training to infiltrate and apprehend an expanded black market for gaming,” he warned.

Remulla makes first public appearance since heart bypass operation

By Joel R. San Juan @jrsanjuan1573

AFTER several months of absence from public view owing to his health condition, Justice Secretary Jesus Crispin Remulla finally showed up in Malacañang on Wednesday for the signing of the 2024 National Prosecution Service Rules on Preliminary Investigations and Inquest Proceedings.

Justice Assistant Secretary Jose Dominic Clavano said Remulla “remains in good health” and is expected to lead the signing of the Declaration of Cooperation between the University of the Philippines (UP) Manila, United Nations Office on Drugs and Crime (UNODC) and the DOJ scheduled on Thursday. “His health is good. Recovery is on the uptick after his doctors asked him to go on a strict diet in order to lose weight,” Clavano assured. In May, Clavano said Remulla is still recovering from his heart bypass operation

but he remains active in the deparment, giving guidance to his subordinates. When asked when the justice secretary is expected to report in his office in the DOJ, Clavano answered: “Tomorrow for the signing of a MOA [memorandum of agreement] with UNODC.”

Prior to his appearance in Malacañang, Remulla also met with newly-appointed director of the National Bureau of Investigation (NBI) Jaime Santiago on Friday to give his marching orders to the latter. Remulla’s meeting with Santiago, a retired judge and former policeman, came almost a month after the latter was appointed by President Marcos to the position on June 14.

During their meeting, Remulla reminded Santiago to always “do the right thing” and appoint only competent people in the agency. He also directed the NBI chief to expose and go after erring officials and officers of the bureau and intensify its campaign to prevent cybercrimes.

Go partners with youth leaders in nation building

SEN. Christopher Go expressed his commitment to nurturing the next generation of Filipino leaders at the opening ceremony of the Sangguniang Kabataan (SK) Iloilo Chapter Provincial Congress held at the SMX Convention Center in Pasay City on Monday, July 8. Go began his address with a heartfelt thanks to the youth and leaders of the SK Federation of Iloilo province for their warm welcome. He highlighted the importance of

Congress as a platform for shaping knowledgeable and caring leaders. Aside from the SK leaders of Iloilo led by Board Member Esara Javier, also present were Sen. Alan Cayetano, Cong. Lorenz Defensor, Gov. Art Defensor and Pasay City Mayor Emi Calixto-Rubiano.

As an advocate for the youth, Go discussed his legislative efforts to support local governance and youth programs.

He is a co-author of Republic Act No. 11768,

At the same time, the NBI announced the arrest of four individuals believed to be members of a cybercrime syndicate involved in the hacking of government websites, during an entrapment operation conducted in Tagaytay City last July 9. The four suspects were identified as Eden Glenn Petilo, Carlo Reyna, John Kenneth Macampat and Leonel Obina.

The four are facing charges of violation of Section 26 (b) (Unauthorized processing of personal sensitive information) and Section 29 (Unauthorized Access or Intentional Breach) of Republic Act No. 10173; Section 5 (b) (Attempt in the Commission of Cybercrime) and Section 4 (a) (Access of the whole or any part of a computer system without right) of the Cybercrime Prevention Act (RA No. 10175). The operation stemmed from the recent incidents of multiple unauthorized breaches of government websites.

Information received by the NBI-Cybercrime Division (CCD) revealed that a certain

individual or group may be responsible for cyber intrusions including but not limited to the Commission on Elections (Comelec) and Sky Cable Data and that such data are being offered for sale.

Acting on the information, the NBI-CCD immediately conducted a surveillance operation, which revealed that the cybercrime group Blood Security Hackers was responsible for the recent cyber intrusions. Subsequently, the operatives were able to engage the subjects to buy voluminous amount of data, which came from the data breach of Sky Cable containing subscribers’ information. The subjects were arrested upon receiving the marked money used as payment for the purchase of the data breaches. Santiago lauded the NBI-CCD operatives for acting immediately on his call to intensify the campaign against cybercrime and warned the persons behind the data breaches that the NBI will be relentless in pursuing them.

WPS focus of Philippine independence celebration in Milan

BOI approves ₧9.59-billion agri project in H1 of ’24

By Andrea San Juan @andreasanjuan

IGHLIGHTING the “syn-

Hergy” between the Board of Investments (BOI) and the Department of Agriculture (DA), the investment promotion agency said the agricultural projects it approved in the January to June 2024 period have already reached P9.59 billion.

“We are transforming the agricultural sector in the Philippines,” Trade Secretary and BOI Chairman Alfredo E. Pascual said in a statement on Wednesday.

“The synergy between the BOI and the DA is already yielding significant benefits as these projects will certainly drive the adoption of new technologies and enhance food security in the Philippines—ensuring

the sustainability and resilience of our agricultural systems,” Pascual said.

The investment promotion agency attached to the Department of Trade and Industry (DTI) said the P9.59 billion in investments were endorsed by the Agriculture department as Tier II agri-based projects under the 2022 Strategic Investment Priority plan pursuant to the Corporate Recovery and Tax Incentives for Enterprises Act (Create).

The BOI said the DA endorsed these projects, recognizing their potential to “ensure competitive food security and support sustainable agriculture.”

One of the projects is Metro Pacific Dairy Farms Inc.’s facility in Bay, Laguna, an integrated dairy farm and processing facility capable of producing more than nine million liters of dairy and plant-

based beverage products annually.

“Through the use of dairy farming principles and techniques inspired by the Israeli model that utilize artificial intelligence and state-of-the-art equipment supported by a solar power plant, the facility will be able to produce four times the average milking yield of the local industry today,” the BOI said.

Another project which is located in San Rafael, Bulacan, is theMetro Pacific Fresh Farms Inc., which is expected to produce 1,620 metric tons of vegetables yearly.

According to BOI, this project,in collaboration with Innovative AgroIndustry (IAI), an affiliate of Israel’s LR Group, will take advantage of technologies developed to cultivate highquality vegetables even in challenging desert climates.

DPWH completes ₧209.68-million projects

TBy Lorenz S. Marasigan @lorenzmarasigan

HE Department of Public Works and Highways (DPWH) has completed and turned over two significant infrastructure projects aimed at enhancing public services and transportation in Metro Manila and Oriental Mindoro.

In Metro Manila, the DPWH said it has completed two fully-equipped government centers in Quezon City and San Juan City, with a combined cost of P186.76 million.

Public Works Secretary Manuel M. Bonoan said on Wednesday that these new facilities are “now able to strengthen government services in barangay Bagbag, Quezon City, and barangay Little Baguio,

Moreover, this project will utilize the Nutrient Film Technique (NFT), a hydroponic method for leafy greens that maximizes productivity while minimizing water and nutrient use, said the BOI.

Meanwhile, SL Agritech Corporation is set to become a new producer of hybrid rice seeds and palay in Tabuk City, Kalinga.

“The facility will have an annual capacity of 17,500,000 kilograms of hybrid rice seeds and 3,500,000 kilograms of palay. The use of hybrid rice technology is expected to help local farmers increase their production and remain competitive against imported rice,” BOI said.

In Tagoloan, Misamis Oriental, Vifel Ice Plant and Cold Storage Inc. will establish a cold and dry storage facility with a capacity of 5,824 pal-

San Juan City.”

Located in barangay Bagbag, the newly constructed 3-story government center is designed to accommodate approximately 100 people at a time and features office areas with toilets, a conference room, a daycare area, a pantry, and a storage area.

Additional amenities include parking space, a multi-purpose area, a roof deck, basic lighting fixtures, an air-conditioning system, and a fire exit to ensure the convenience and safety of both government personnel and the public.

The 4-story government center in San Juan includes spaces for daycare, dental, and medical clinics, as well as a mortuary facility. It also houses administrative offices for barangay officials and provides a recreational area with a basketball court.

Meanwhile, in Oriental Mindoro, the DPWH said it has completed the widening of the Sagana Bridge along the BongabongSagana-Roxas-San Aquilino Road.

The P22.92-million project, funded under the 2023 Regular Infrastructure Program, aims to facilitate smoother and more efficient transportation access for motorists and travelers in Bongabong.

The project involved the construction of two additional lanes, one on each side of the existing two-lane bridge, and included the widening of the carriageway, construction of approach slabs, retaining walls, and guardrails to enhance safety.

“Through the widening improvements of the Sagana Bridge, which complements the Bongabong-Sagana-Roxas-San Aquilino Road, residents and motorists in the area can now expect smoother and faster travel time,” Public Works Mimaropa Region Director Gerald A. Pacanan said.

lets (2,125,760 pallet-days) for cold storage and 2,606 pallets (951,190 pallet-days) for dry storage.

Additionally, Chick Haven Inc. will operate a hatchery facility in Toril, Davao City, with an annual capacity of 18,247,680 eggs.

For her part, BOI Resource-Based Industries Service Director Raquel Echague highlighted the economic benefits of these projects, which are expected to generate “thousands of jobs [direct and indirect]” across various regions of the country. Likewise, she said these projects will create “rural employment opportunities and help increase farmers’ incomes.”

“Close coordination with lead agencies such as the DA greatly helps in promoting the growth of the agricultural sector as it improves understanding of the needs of the industry and the

interventions that the government should be providing.” Echague noted.

The investment promotion agency said it aims to position the Philippines as a regional hub for globally competitive, innovative, and sustainabilitydriven industries.

“High-tech agriculture, encompassing climate-smart technologies, artificial intelligence, and farm mechanization, is a priority sector,” the BOI noted.

The Philippines has the strategic location, human resources, and natural resources to advance this goal. Agri-related sectors include smart manufacturing technologies, the production of agri-inputs such as animal vaccines and bio-fertilizers, and agri-support activities like cold chain logistics and agricultural machinery assembly.

Climate change, food, energy security on FMJr’s mind

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Marcos has called on dam operators to go beyond just water distribution and help in ensuring the country’s climate resilience as well as food and energy security by upgrading their facilities.

At the inauguration of the impounding process facility of the Upper Wawa Dam in Montalban, Rizal, on Wednesday, the Chief Executive highlighted the importance of increasing the country’s multi-purpose dams to efficiently use limited water resources.

“Water is a finite resource while the demand for it is ever increasing. We need to use water wisely, as many times and for as many purposes as possible,” Marcos said.

“We need to build more multi-purpose dams to ensure water supply not only for drinking but also for irrigation, power generation, flood control, aquaculture, and hopefully other technologies that we may engage in, in the future,” he added. He cited Upper Wawa Dam as an example of such a multi-purpose dam, which has other functions

aside from providing for the water needs of the 2.2 million to 3.5 million people within the Metropolitan Waterworks and Sewerage System (MWSS) area. The P26.5-billion facility will generate 600 megawatts of power once it fills up its over 400-hectare reservoir.

It will also enhance the climate resilience of the communities it serves by serving as a floodcontrol structure and providing them with a reliable source of water during droughts.

The dam is part of the Phase 2 of the Wawa Bulk Water Supply Project, which is being implemented by Wawa JVCo. Inc., a Public-Private Partnership (PPP) between the government and Prime Infrastructure Capital Inc. through a joint venture with San Lorenzo Ruiz Builders and Developers Group.

It is projected to generate 438 million liters of water a day once the dam starts its commercial operation next year and this can increase to 710 million liters per day in the following years.

“The Upper Wawa Dam will be the biggest water source to be built in the country in over 50 years, next to the Angat Dam,” Marcos said.

PPA Marks 50th Year of Linking the Philippines to the World

By Rodel A. Suarez

EXACTLY 50 years ago today, the Philippine Ports Authority (PPA) was established under Presidential Decree No. 505, which was subsequently amended by P.D. No. 857 in December 1975.

The establishment of PPA was driven by the need to integrate and coordinate port planning, development, operations and regulation at the national level, as there were already 591 national and municipal ports plus 200 private ports scattered all over the country in the early 1970s. The number of ports has multiplied, expanded, and immensely modernized since.

The PPA was created to facilitate the implementation of an integrated program for the planning, development, financing, operation and maintenance of ports or port districts for the entire country

Prior to the creation of PPA by then President Ferdinand Marcos, port administration in the Philippines was merged with the traditional function of revenue col-

lection of the Bureau of Customs (BOC), while port and harbor maintenance was the responsibility of then Bureau of Public Works (BPW), which has eventually evolved into a government department now known as the Department of Public Works and Highways (DPWH).

The PPA’s official anniversary is on July 11th but the port agency and those in the local port communities all over the country usually mark the milestone during the first two weeks of the month.

In recent years under the leadership of PPA General Manager, Atty. Jay Daniel R. Santiago, the port agency has been auspiciously marking its anniversary through low-key celebrations in its head office in Port Area, Manila as well as in other port districts nationwide.

However, given that this year marks the Golden Year of the PPA as one of the most prolific revenueearners as a government-owned and controlled corporation, the

port agency has the opportunity to break tradition to come up with a grand celebration. For the record, the PPA has broken its record dividend remit-

tance to the national government coffers last year amounting to P5.06 billion, placing fourth among the top GOCCs to have contributed revenues which help sustained the

country’s economic growth. Still, Atty. Jay Santiago opted for a quiet but nonetheless significant anniversary program and celebration held once again at its head office on July 9, 2024 that had Department of Transportation (DOTr) officials led by Secretary Jaime Bautista, serving as guest of honor and keynote speaker.

PPA’s Golden Anniversary theme of “50 Years of Linking Our Islands to the World” speak volumes on how the port agency has sustained its mandate and consistently achieved its dynamic objectives of turning many of the country’s ports in Luzon, Visayas, and Mindanao as world-class international gateways from previously only having Manila and Cebu as the country’s international ports, 50 years ago. And the PPA is far from done and it will pursue not just the development of international gateways but also local ports to further improve travel and trade which are truly essential in an archipelagic country like the Philippines.

“Lima Po Sa Limampu” As a forward-thinking agency of the government, the PPA is not about to rest on its laurels for having reached its 50th year trailblazing many successes along the way. In fact, the port agency has launched five major port projects this year in what it aptly called as #LimaPoSaLimampu (Five for Fifty), which is the theme of its 50th Anniversary celebration this year. With this pronouncement of five major projects, the PPA will not let up on its reputation as the country’s premiere maritime agency

Continued on A

Tubigon Port Passenger Terminal Building

PPA 50th A

PPA Marks 50th Year of Linkin

that continues to steer economic progress nationwide through the sustained development of vital ports and harbors.

PPA’s initiatives in recent years has enabled it to become one of the strongest port agencies in Southeast Asia and continues to provide to maritime connective to international trade going into and out of the Philippines as well as domestic commerce between the Philippine archipelagoes.

The five key projects of PPA this year under its #LimaPoSaLimampu program are:

Law Enforcement Building (LEB) at Port of Currimao

To ensure efficient cooperation between the PPA and other government agencies, the port agency began the construction of the Law Enforcement Building (LEB), situated at the Port of Currimao in Ilocos Norte.

It is a state-of-the-art facility that aims to strengthen security measures and streamline coordination among various government agencies tasked with ensuring the safety of ports and waters in the region.

PPA-PCG K9 Academy in Pampanga

The K9 Academy was established to assist the Philippine Coast Guard (PCG) by providing a dedicated academy equipped with comprehensive facilities, including training centers, living quarters, and more for K9 and K9 handlers.

This project is expected to significantly contribute to the community by producing a greater number of trained handlers and improving overall security and efficiency at the country’s ports.

Expansion of Balanacan Port Project in Marinduque

Situated in Mogpog in the province of Marinduque, the expansion project of the Balanacan Port is a strategic initiative aimed at improving port facilities as well as accommodate the growing demands of maritime trade and commerce in the Region IV-B province.

Tubigon Port Passenger Terminal Building

The newly upgraded passenger terminal building at the Port of Tu-

bigon in Bohol is now a two-story facility, capable of accommodating more than 1,000 passengers at any given time.

The new terminal building features state-of-the-art amenities, including passenger waiting areas, baggage handling facilities, and food kiosks.

Cruise Ship Port in Dapa, Surigao del Norte

The completion of the new cruise ship terminal in Port of Jubang located in the municipality of Dapa, Surigao del Norte brings forth a new era of maritime connectivity and economic prosperity for Siargao Island and the entire province.

The Country’s Newest International Cruise Terminal

Speaking of tourism, the PPA is set to inaugurate a new cruise terminal before the end of the year near the island of Siargao in Northeastern Mindanao. Siargao, which is known as the Surfing Capital of the Philippines, is a worldrenowned tourist hot spot in the province of Surigao del Norte.

Atty. Jany Santiago says that the new cruise terminal near Siargao will contribute in boosting the country’s tourism infrastructure, especially in Mindanao. He added that the project is also aligned with the government’s goal of enhancing tourism and drawing more tourists in local destinations across the country.

At present, ports in the country that are already accommodating international cruise ships outside of the Port of Manila include the Port of Currimao in Ilocos Norte, the Port of Salomague in Ilocos Sur, the Port of Tag-

bilaran in Bohol, and the Port of El Nido in Palawan.

PPA reported that the cruise terminal near Siargao shall become operational by the third quarter of this year, and is parallel to the PPA initiative of developing cruise terminals near renowned Philippine destinations to help boost the country’s tourism and increase tourist arrivals.

Also, in the pipeline for a new cruise terminal is the one in the Port of Coron in Palawan, another top tourist destination in the country for both local and foreign tourists.

"We are also constructing a dedicated cruise terminal in Coron, Palawan. We aim to complete the Coron cruise terminal by next year and start work on the cruise terminal in the island province of Camiguin in Northern Mindanao," the PPA General Manager said.

The new cruise terminals will boost local economies by facilitating the entry of more international and domestic tourists, which shall redound to economic trickle effects.

Once these cruise terminals are in place, the PPA is optimistic that it will improve access to the country’s top destinations and shall encourage both foreign and domestic tourists to stay longer on the tourist spots, and naturally spend more.

Related to this goal of improving cruise travel tourism in the country, the PPA has likewise expressed and showed its support to the recent holding of the Cruise Travel Tourism and Maritime Careers Convention and Expo held on June 11-12,

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Balanacan Port Coastway

Law Enforcement Building (LEB) at Port of Currimao

PPA-PCG K9 Academy in Pampanga

Anniversary

ng the Philippines to the World

and Calapan,

2024 at the SMX Convention Center because it was parallel with the overall objective of promoting some of the country’s premiere destinations through cruise travel.

The PPA has also said that plans are also being drawn up for the development of new cruise terminals in Boracay and Puerto Galera, which shall further increase visitor arrivals in those already known tourist hot spots.

These series of cruise terminal development projects reflect PPA’s visionary approach towards boosting tourism in the country by putting the Philippines in the map of premier cruise destinations not only in Asia but in the whole world.

Master Plan for 10

Domestic Ports

Late in May this year, the PPA announced that it will craft master plans for 11 ports that it intends to build across the archipelago to improve interisland trade and travel.

In a request for expression of interest, the PPA said it is ready to spend P32.29 million to hire consultancy services for the development of feasibility studies and master plans for the domestic ports of Pasuquin, in Ilocos Norte; Puerto Galera in Oriental Mindoro; and Taytay in Palawan, all in Luzon. In the Visayas, the plan includes the ports of Buenavista in the province of Guimaras; Catbalogan in Samar, San Carlos in Negros Occidental; Dumaguete in Negros Oriental;

Honored by PBBM

On May 6, 2024, the PPA has once again proven its performance during the 2024 Government-Owned or -Controlled Corporations (GOCC's) Day headed by President Ferdinand Marcos Jr. at the Philippine International Convention Center (PICC) in Pasay City. GM Atty. Jay Santiago received the recognition bestowed on the PPA from the President and the Department of Finance, together with 46 other GOCCs. A Certificate of Acknowledgment of Dividend Remittances was given to the PPA in recognition of its significant contribution to economic growth and efforts to enhance the quality of life for Filipinos.

"It goes beyond merely recognizing the GOCCs for their contributions to the nation’s coffers. This occasion encourages greater

and Lazi in the island-province of Siquijor.

The PPA also included the ports of Zamboanga City and Zamboanga del Sur, and Cagdianao in Dinagat Islands.

Consultants who are interested for the project were requested to submit eligibility documents for the scope of services. In particular, the winning bidder for the project will be required to deliver the following: previous studies; existing conditions and demand; and proposed development and operation.

The contractor will be tasked to evaluate the ports on the economic, financial and environmental aspects, too. Since the deadline for the submission of eligibility documents was on June 5, 2024, the PPA will soon draw up a short list of qualified companies that can participate in the bidding process.

The PPA has also issued another request for expression of interest for private consultancy services to investigate marine structures in nine ports around the Philippines.

The port agency has allocated P46.87 million for the contract. The winning bidder for the project will do an inventory of marine structures for the ports in Pulupandan, Negros Occidental; Culasi, Roxas City in Capiz; Cagayan de Oro, Misamis Oriental; and Ozamiz, Misamis Occidental.

The project also includes the port facilities in Tacloban, Leyte; Ormoc, Leyte; and Balanacan, Mogpog in Marinduque;

Capinpin, Bataan;

Oriental Mindoro.

Cruise Ship Port in Dapa, Surigao del Norte Continued

Atty. Jay Santiago, General Manager

PPA 50th Anniversary

Thursday, July 11, 2024

ONE WITH THE ENVIRONMENT: PPA PLANTS 4M SEEDLINGS IN A SPAN OF 4 YEARS

N celebration of Earth Day

I2024, the Philippine Ports Authority (PPA) is proud to announce that the agency and its stakeholders have already planted a total of 4 Million seedlings/mangroves nationwide from 2020 to 2024 in coordination with the Department of Natural Resources (DENR).

As climate change continues to threaten human lives and ecosystems, PPA has been consistent in its fight against climate change and in supporting the government’s National

Greening Program (NGP) as part of PPA’s corporate social responsibility. As of March 31, 2024, a total of 3,909,608 seedlings/mangroves have been planted as reported by its Port Management Offices based on Certifications issued by the CENRO/DENR.

As early as December 18, 2020, PPA Administrative Order (AO) No. 014-2020 entitled “Mandatory Tree and/or Mangrove Planting as a Condition for the Issuance of Accredita-

tion, Certificate of Registration, Appointment, or Award of Contract, or Renewal/Extension Thereof” has been issued.

Under this AO, a PPA accreditation certificate, certificate of registration (COR), permit to operate (PTO), appointment, including contracts for the provision of services in the ports are subject to the condition that the applicant/grantee shall plant trees and/or mangroves of at least ONE THOUSAND (1,000) seedlings.

PPA adheres to the concept of ensuring that port activities

are focused on minimizing the adverse or negative impact to the environment and ensuring that all aspects of port operations and port development are geared towards the protection and preservation of the environment for the maximum utilization of port facilities.

Just recently, last year, PPA was able to plant additional 8,000 seedlings in all ports nationwide in support of the "Lingap at Alagang Bayanihan (LAB)" project of the admin-

istration launched during the birthday of President Ferdinand Marcos Jr. and also in accordance with Republic Act No. 9729 or the "Climate Change Act of 2009".

Last week, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAG-ASA) announced that the highest temperature in Metro Manila was recorded 38.2 degrees Celsius at the Ninoy Aquino International Airport monitoring sta-

tion in Pasay City at 3:26 in the afternoon, this is the highest recorded temperature in the National Capital Region since 1915 with 38.0 degrees Celsius in Port Area, Manila. PPA continues to take initiatives in programs to establish linkages with national and local government units, non-governmental organizations, and port stakeholders, to ensure environmental protection and preservation while improving port facilities.

PBBM RECOGNIZES PPA’s OUTSTANDING CONTRIBUTION DURING GOCC DAY

THE Philippine Ports Authority (PPA) has once again proven its performance in the recent 2024 Government- Owned or - Controlled Corporations (GOCC's) Day headed by President Ferdinand Marcos Jr. on May 6, 2024 at the Philippine International Convention Center (PICC), Pasay City.

PPA was represented by General Manager Jay Santiago who received the recognition from the President and the Department of Finance, together with 46 other GOCCs. A Certificate of Acknowl-

edgment of Dividend Remittances was given to PPA in recognition of its contribution to economic growth and enhancing the quality of life for citizens.

"It goes beyond merely rec-

ognizing the GOCCs for their contributions to the nation’s coffers. This occasion encourages greater performance and excellence across government corporations that hold a major stake in our country’s progress," said the President in front of GOCC leaders and board members.

For 2023, PPA remitted P5.06 billion as cash dividends, equivalent to 58.25% of PPA’s Net Earnings based on its Calendar Year 2023 Unaudited Financial Statements, breaking its 2022 record of P4.4 billion.

President Marcos believes that GOCCs will surpass the Php99.98 billion total dividends remitted in 2023, which is 46%

higher than the Php 68.34 billion collected in 2022.

"Last year, dividends remitted reached an unprecedented Php100 billion. I’m sure that we will surpass it this year. And if the amount remitted as of May 3, which is Php88.56 billion, is any indication then we are on track to meet that goal," added the President.

The PPA has been a consistent top performer among government-owned and controlled corporations. For 2023, the agency was recognized as one of the leading dividend contributors among GOCCs in the country, ranking fourth overall with a cash remittance of Php4.44 billion.

Based on the data of the De-

partment of Finance (DOF), PPA was the 4th highest dividend contributor among GOCCs in 2023 following only the Land Bank of the Philippines (P32.12 billion), Philippine Deposit Insurance Corporation (P10.68 billion) and the Bangko Sentral ng Pilipinas (P9.2 billion) and surpassing other GOCCs like the Philippine Amusement and Gaming Corporation (PAGCOR) (P4.60 billion), Manila International Airport Authority (P3.45 billion), Subic Bay Metropolitan Authority (P3.07 billion), Philippine Charity Sweepstakes Office (P2.7 billion), Philippine National Oil Co. (P2.64 billion), and National Transmission Corporation (P2.16 billion), among the top 10 GOCC

dividend contributors.

"We are again making history with our highest dividend contribution so far, kung matatandaan niyo po since 2016 nagsimula ang dividend natin sa Php1.96 billion hanggang kada taon po eh pataas ng pataas and now we have over Php5 billion. This proves that we mean serious business in PPA," according to PPA GM Santiago. The 'Dividends Law' of 1994 or Republic Act No. 7656, requires all GOCCs to send the national government a minimum of 50 percent of their net annual earnings. Its goal is to provide funding for different social and economic initiatives as well as government infrastructure projects.

PPA 50th Anniversary

PPA Marks 50th Year of Linking the Philippines to the World

performance and excellence across government corporations that hold a major stake in our country’s progress," said the President in front of GOCC leaders and board members. For 2023, PPA remitted P5.06 billion as cash dividends, equivalent to 58.25% of PPA’s Net Earnings based on its Calendar Year 2023 Unaudited Financial Statements, breaking its 2022 record of P4.4 billion.

President Marcos believes that GOCCs will surpass the PhP 99.98 billion total dividends remitted in 2023, which is 46% higher than the PhP 68.34 billion collected in 2022. "Last year, dividends remitted reached an unprecedented PhP 100 billion. I’m sure that we will surpass it this year. And if the amount remitted as of May 3, which is PhP 88.56 billion, is any indication then we are on track to meet that goal,"

added the President. The PPA has been a consistent top performer among governmentowned and controlled corporations. For 2023, the agency was recognized as one of the leading dividend contributors among GOCCs in the country, ranking fourth overall with a cash remittance of PhP 5.06 billion.

Based on the data of the Department of Finance (DOF), PPA was the 4th highest dividend con-

tributor among GOCCs in 2023 following only the Land Bank of the Philippines (P32.12 billion), Philippine Deposit Insurance Corporation (P10.68 billion) and the Bangko Sentral ng Pilipinas (P9.2 billion) and surpassing other GOCCs like the Philippine Amusement and Gaming Corporation (PAGCOR) (P4.60 billion), Manila International Airport Authority (P3.45 billion), Subic Bay Metropolitan Authority (P3.07

billion), Philippine Charity Sweepstakes Office (P2.7 billion), Philippine National Oil Co. (P2.64 billion), and National Transmission Corporation (P2.16 billion), among the top 10 GOCC dividend contributors.

"We are again making history with our highest dividend contribution so far, kung matatandaan niyo po since 2016 nagsimula ang dividend natin sa PhP1.96 billion hanggang kada taon po eh pataas ng pataas and now we have over PhP 5 billion. This proves that we mean serious business in the PPA," emphasizes GM Santiago. The 'Dividends Law' of 1994 or Republic Act No. 7656, requires all GOCCs to send the national government a minimum of 50 percent of their net annual earnings. Its goal is to provide funding for different social and economic initiatives as well as government infrastructure projects.

Editor: Angel R. Calso

Govt’s commitment to total electriﬁcation essential for inclusive PHL economic growth

ACCESS to electricity is not a luxury; it is a fundamental necessity that drives economic growth, improves living standards, and empowers communities. The government’s commitment to achieving total electrification by 2028 is a crucial step towards fostering inclusive development and reducing inequality. The recent announcement that the government may borrow P47 billion from multilateral lenders to finance this ambitious program demonstrates its determination to bridge the gap in electrification and ensure that all households have access to reliable power. (Read the BusinessMirror story: “PHL eyes P47 billion loan to hit total electrification by 2028,” July 9, 2024).

As of March this year, the household electrification level stood at 93.12 percent, with 26.02 million households served. While this is commendable progress, there are still 27.94 million households that lack access to electricity. By reaching a 100-percent electrification rate, the country can unlock substantial economic benefits, estimated at P315 billion or approximately 1.8 percent of last year’s gross domestic product.

The economic advantages of universal electrification are multifaceted. A 24-hour access to electricity will significantly impact low-income families, increasing their income and expenditure by 49.4 percent and 52.2 percent, respectively. This surge in economic activity will not only uplift vulnerable communities but also contribute to the nation’s overall economic prosperity. It is imperative to recognize that expanding electricity access is not merely an infrastructural endeavor; it is an investment in our human capital and potential of millions of Filipinos.

To achieve total electrification by the set deadline, an additional P72 billion is required to finance power generation, transmission, and distribution in underserved and unserved areas. The Department of Energy (DOE) has proposed securing a loan from the Asian Development Bank (ADB) or the World Bank, in addition to utilizing the DOE’s electrification budget. This effort reflects the administration’s recognition of the urgent need to mobilize resources, and ensure that progress is not impeded by budgetary limitations. Moreover, the partnership established between the University of the Philippines, the National Electrification Administration, and the Philippine Space Agency to support the Accelerated Total Electrification Plan is a commendable initiative. By leveraging satellite technology and the Geographical Information System (GIS), this collaboration aims to identify households in off-grid areas and facilitate effective planning and implementation of rural electrification. The integration of advanced technology and data sharing will streamline efforts and expedite the electrification process, particularly in Mindanao, where a significant number of households lack adequate access to electricity.

A reliable supply of electricity is essential for rural areas to prosper. It empowers individuals, enables entrepreneurship, improves education and healthcare services, and connects communities to broader opportunities. The government’s commitment to total electrification is a testament to its dedication to inclusive economic growth. By ensuring that every Filipino household has access to electricity, the government paves the way for a more equitable society. While the financial burden of achieving total electrification is significant, it is an investment that will yield substantial returns in the long run. The economic benefits, coupled with the social and developmental advantages, far outweigh the costs. It is essential for the government to prioritize and allocate the necessary resources to fulfill this commitment. Additionally, transparency and accountability in the utilization of funds are crucial to ensure that the electrification program is executed efficiently and effectively. The road to 100 percent electrification may be long, but the dividends it will yield in terms of improved livelihoods, enhanced productivity, and strengthened social resilience make it a worthy investment. The benefits of comprehensive electrification are undeniable, and it is time we harness the power of electricity to drive inclusive economic growth across the country.

The king is not dead

‘TOUTSIDE THE BOX

HE king is dead. Long live the king!” Reportedly first used by the French in 1422, this proclamation is made with the accession of a new monarch, while announcing the death of the previous monarch and declares continuity by saluting the new monarch.

“The throne shall never be empty; the country shall never be without a monarch.”

Likewise, if you are going to kill and replace a global financial system anchored on the US dollar, you better have the next “king” ready to go. But before you do that, maybe it is smart to understand the reasons the old king became the king in the first place.

Circle the year 1972 on your calendar when the USD replaced gold as the global reserve currency. And it did not “just happen” or because the replacement of gold was good for the world. It was beneficial for the US because the rest of the planet was plundering the US gold reserves in payment for US imports.

When the US refused to pay in gold an alternative had to be found. USD made sense for America but only if everyone else would come on board. There always had been a “reserve currency” from the Greek drachma,

coined in the fifth century B.C., the Venetian ducat, and the Spanish gold Doubloon. But that depended on who was the global trade leader, and all those coins were made of some amount of precious metal silver or gold.

The USD in 1972 was not backed by gold any longer. So, why the dollar?

The US had 200 years of continuous political stability. The nation had only two weak and dependent on US trade border neighbors. The US is virtually impervious to armed invasion. It has the largest economy and the largest consumer market. The US government has been— since 1975—willing and eager to increase government debt to any level to back the US dollar. There is about $300 in physical circulation for every person on the planet. At a bar in the depths of an African jungle to kidnappers from Colombia to the Philippines to Italy, all are happy to

accept USD in payment.

One way to be the top dog of global currencies is to make the world pay for its imports in US dollars. That was the purpose of the Petro-Dollar agreement. But even before 2024, Opec would accept payment in other currencies. But there is one major import that must be paid in dollars.

If you want “God’s Own Weapons” made in the US of A, you will pay in “God’s Own Dollars.” The US global arms export is 42 percent of all global weapons sales, followed by France (11 percent), Russia (11 percent), and China (5.8 percent).

The biggest buyers of US weapons are Saudi Arabia (the reason for the Petrodollar), Qatar, Japan, Norway, the UK, and Australia. This situation is probably not going to change anytime soon, but it is only one piece of the global currency market.

Another way to gain control is to “own” the international banking transfer system, which is a platform similar to GCash called the “Society for Worldwide Interbank Financial Telecommunication” or SWIFT. The US effectively controls SWIFT and therefore can and has shut banks from countries it does not like (read Russia) out of the system. But like PayMaya challenges GCash, Russia set up its “System for Transmitting Financial Messages (SPFS).”

What keeps the US dollar in control is something that BRICS is having great trouble challenging. It recently set up its own currency swap agreement as the new solution

for BRICS countries to de-dollarize. However, it is too small and too complex to have any meaningful impact on the dollar.

Dr. Antonio Graceffo, an economist and national security analyst with a focus on China and Russia, said: “The main issues standing in their way is that the BRICS, which now includes Saudi Arabia, Egypt, Ethiopia, Iran and the United Arab Emirates, all have relatively weak, non-convertible currencies (not accepted at that jungle bar) and most of which have steadily lost value against the dollar over the past five years.”

“Additionally, none of the central banks of BRICS countries are willing to hold large amounts of BRICS currencies as reserves and they are largely useless for international trade with other countries.” So, BRICS established currency swaps with 29 countries worth $550 billion. Each pair has to “swap” with the other. If China and India agree to a $20 million swap, they each deposit $20 million worth of their respective currencies in each other’s central banks. But for most of the BRICS, the goods would still likely be priced in dollars for stability and consistency.

If you are going to replace the King, you better have a better replacement ready to go.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Divided Democrats blast Trump agenda to shift Biden focus

By Erik Wasson, Maeve Sheehey (BGOV) & Ted Mann

EVEN as congressional Democrats argued Tuesday over whether to stand behind Joe Biden’s candidacy, the White House and lawmakers grasped for a unified strategy: trying to change the subject from the president’s mental acuity to Donald Trump’s policy goals.

Democrat Mikie Sherrill of New Jersey called on Biden to step aside Tuesday afternoon, underscoring persistent worries about Biden and questions about whether he should make way for Vice President Kamala Harris or another candidate. Others signaled the matter is unresolved. In an interview with CNN on Tuesday evening, Colorado US Senator Michael Bennet said that he told colleagues in a meeting earlier that he doesn’t think Biden can defeat Trump.

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“This race is on a trajectory that is very worrisome if you care about the future of this country,” Bennet said. “Donald Trump is on track, I think, to win this election and maybe win it by a landslide and take with him the Senate and the House.”

Representative Pete Aguilar, the House Democrats’ third-ranking

leader, described the president as the party’s candidate “right now.”

Across the Capitol, many Democrats parried questions about Biden by invoking “Project 2025”—a suite of policy proposals drafted by the conservative Heritage Foundation for Trump to pursue if he is elected in November. Trump has tried to distance himself from the controversial initiative, but it’s staffed by some of the most prominent members of his former administration.

Democrats say the proposals— which range from gutting the federal civil service to banning pornography and blocking efforts to fight climate change—are likely to alarm undecided voters and push them into the president’s camp, even as doubts persist in the wake of Biden’s disastrous debate performance last month.

“There is a consensus to focus

on Project 2025,” said Representative Jim Clyburn of South Carolina, leaving a closed-door meeting of House Democrats that participants described as a listening session to allow members to vent their concerns about Biden’s ability to defeat Trump.

“I am not going to be distracted by a 90-minute debate,” Representative Ayanna Pressley of Massachusetts, a member of the left-leaning “Squad” of lawmakers, said. “I am focused on guarding against 90 years of horror if Project 2025 becomes a reality.”

Elsewhere, Representative Maxine Waters of California invoked the project as she questioned Treasury Secretary Janet Yellen during an appearance at the House Financial Services Committee.

The attempt to change the channel came from the very top.

“Google Project 2025,” Biden posted on X around midday, part of a refrain from the president’s reelection campaign as it tries to refocus voters on the stakes of the fall election and away from Biden’s struggles.

Staunching defections

THE House Democrats’ meeting early Tuesday amounted to a forum

on Biden’s political future, after several members declared publicly that he should step aside. There was no sign yet of the kind of clear consensus that might force him to reconsider his candidacy.

It’s a pivotal week for the embattled president, who is hosting a NATO summit in Washington. He will hold a Thursday press conference, offering critics and supporters another moment to study every word for signs he’s slipping.

“He shouldn’t endanger his legacy and deliver us to a tyrant,” Lloyd Doggett of Texas, the first Democrat to call for Biden to step aside, said following the House Democrats’ meeting. Many lawmakers expressed support for Biden, albeit some more begrudging than others. And very few expressed confidence that Biden can win a second term.

New York Democrat Jerrold Nadler, one of several senior Democrats who have privately said Biden should step aside, said the president has “made very clear he is running” and the party must get behind him.

“He is the person,” Nadler said when asked if Biden can beat Donald See “Divided,” A

Ambassador Antonio L. Cabangon Chua

John Mangun

Putin is meeting a lot of world leaders for a global ‘outcast’

By Henry Meyer

PRESIDENT Vladimir Putin is on a diplomatic roll at home and abroad, defying efforts by the US and its allies to cast him as an international pariah over Russia’s invasion of Ukraine.

In just two months since he began his fifth presidential term in May, Putin has held more than 20 meetings with leaders from Europe, Asia, Africa, Latin America and the Middle East. Putin has also made six foreign visits, even as his scope for travel has been limited since the International Criminal Court last year issued an arrest warrant against him for alleged war crimes in Ukraine.

Many of his interlocutors were from former Soviet nations that feel obliged to maintain good ties with Russia or came from states that share Putin’s anti-US stance. But others represent countries that have sought to maintain a neutral position on the war, showing that the Russian leader’s efforts to court the so-called Global South as a counterweight to the US-dominated world order is paying dividends.

Xi dialog

PUTIN lost no time in renewing his friendship with Chinese President Xi Jinping, flying to Beijing little more than a week after being sworn in for another six-year term. They met again this month on the sidelines of the Shanghai Cooperation Organization summit in Kazakhstan. Xi, whose backing has helped Russia to withstand unprecedented Western sanctions over the war in Ukraine, said China “always stood on the right side of history” as he and Putin pledged to “strengthen comprehensive strategic coordination.”

Modi visit

PRIME Minister Narendra Modi’s visit to Moscow this week, his first to Russia in five years, sends a clear signal about India’s determination to keep close to Russia amid the deepening Chinese-Russian embrace. New Delhi remains a major buyer of Russian weapons even as it’s diversifying its defense needs and has become increasingly reliant on discounted oil from Russia since the war in Ukraine started.

Orban ‘peace mission’

HUNGARIAN Prime Minister Viktor Orban, whose country holds the rotating presidency of the European Union, defied criticism from fellow EU leaders of his self-styled peace initiative to hold talks with Putin in Moscow last week. Orban, who’s seen as the most Russia-friendly figure in the 27-nation bloc, had earlier visited Ukrainian President Volodymyr Zelenskyy in Kyiv and went to China after his talks with Putin to meet with Xi.

Erdogan invite PUTIN met with Turkish President

Trump in November. “The president has determined that he is the best candidate.”

The president, who spoke late Monday with members of the Congressional Black Caucus and plans to meet with progressives later this week, did not speak to House Democrats directly. After a two-hour closeddoor meeting of Senate Democrats, Sheldon Whitehouse of Rhode Island said “nothing has changed” about his concerns over Biden.

“I think we need to continue to have the conversation we had today,” the senator added.

Donor discontent

A GROWING number of donors are expressing worries about Biden’s ability to beat Trump in November.

Ibong Adarna flies for the 2024 Asian Patent Attorneys Association meeting in Manila

Recep Tayyip Erdogan for the first time since last September on the sidelines of the SCO summit. They discussed booming Russian tourism to Turkey and the Akkuyu nuclear power plant that Rosatom is building in the country. Erdogan said Nato member Turkey wants to “further develop warm relations” with Russia as he invited Putin to visit him “very soon.”

North Korea alliance

PUTIN in June made his first trip in 24 years to North Korea, where he signed a mutual defense pact with leader Kim Jong Un, who pledged “unconditionally” to support Russia in its war on Ukraine. The military partnership has fanned fears that Russia may provide advanced weapons technology to the isolated Communist state, which has been sending munitions and missiles to aid the Kremlin’s war machine.

From Pyongyang, Putin traveled on to Vietnam, which ignored US complaints about hosting the Russian leader.

Broader contacts

PUTIN has been busy at home and abroad at other meetings with foreign rulers since May. In addition to Xi and Erdogan, Putin met with the leaders of Azerbaijan, Kazakhstan, Mongolia, Pakistan and Qatar on the sidelines of the SCO summit in Astana. In Russia, he has held talks with his counterparts from Zimbabwe, Bolivia, Republic of the Congo, Cuba, Armenia, Tajikistan and Bahrain. Putin also traveled to Uzbekistan and Belarus to meet their leaders.

More top-level diplomacy looms on the horizon, when Russia hosts the summit of the expanded BRICS group of states in Kazan in October. That’s likely to give Putin the opportunity to meet with the leaders of Brazil, India, China, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates. With assistance from Chris Miller and Gina Turner/ Bloomberg

Nearly 400 donors sent a letter late Monday calling for Biden to “withdraw from being a candidate for reelection for the sake of our democracy and the future of our nation.”

Among those who signed the letter are Lisa Blau, the co-founder of venture firm _able Partners, Kevin Brennan of hedge fund Bridgewater Associates, former Procter & Gamble Co. chief executive officer John E. Pepper, and two former Internal Revenue Service Commissioners Charles Rossotti and Fred Forman.

“To be clear, however this resolves, I will support him or whoever the Democratic nominee is,” Trey Beck, a Democratic donor and former managing director of DE Shaw Investment Management, told Bloomberg Surveillance Tuesday. “We’re going to have to unify behind our candidate and if it’s Biden that’s who I’ll get behind him. I’ll walk on glass for the guy.” Bloomberg

TAMICUS CURIAE

HE mythical bird Ibong Adarna serves as the logo for the upcoming 76th Council Meeting of the Asian Patent Attorneys Association (APAA) in Manila from November 18 to 21, 2024.

The APAA is a non-governmental organization dedicated to promoting and enhancing intellectual property (IP) protection in the Asian region.

Established in December 1969, membership of APAA is open to individuals practicing the profession of patent attorney in the Asian region, as well as organizations that comprise such individuals and are constituted in the Asian region.

The association now has more than 2,500 members from 21 recognized groups in Australia, Bangladesh, Cambodia, Hong Kong, India, Indonesia, Japan, Korea, Laos, Macau, Malaysia, Myanmar, Nepal, New Zealand, Pakistan, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam, as well as from Bhutan, Brunei, Laos and Mongolia.

The Ibong Adarna is an enchanting creature in Filipino folklore about the adventure of three princes on a quest to find the legendary bird, whose healing powers can save their father, the King, with an incurable

illness. The prince who successfully brings back the bird will inherit the throne.

The seven-colored, ornate tailfeather embodies the spirit of APAA’s member countries. Each vibrant color represents a unique nation, united in shared pursuit of progress and collaboration.

Like the Ibong Adarna’s transformation with each melodious song, the logo symbolizes the potential for growth and positive change within the APAA community.

The downward-facing wings, positioned mid-flight, further emphasize the collective power and momentum of the member countries soaring towards a brighter future.

The design itself is a beautiful tapestry where the intricate patterns on the Ibong Adarna’s body are reminiscent of wheat grains, representing prosperity and abundance.

The importance of collaboration is highlighted in the wordmark that is woven in the style of the traditional Saputangan tapestry weave by Yakan weavers, highlighting the rich

cultural heritage of the Philippines.

APAA main events will be in three venues in Metro Manila: the SM Mall of Asia area, the Entertainment City area and Newport City.

Some of the activities include productive workshops and round table discussions on emerging trends and challenges, featuring a wide variety of relevant topics and issues. There will also be an array of social events that showcase the Philippines’ diverse heritage, love for entertainment, and world-renowned warmth and hospitality.

The term “intellectual property rights” consists of (a) copyright and related rights; (b) trademarks and service marks; (c) geographic indications; (d) industrial designs; (e) patents; (f) layout-designs (topographies) of integrated circuits; and (g) protection of undisclosed information.

IP laws lay down the remedies available to the IP owner in case of a violation of his rights through administrative, civil and criminal sanctions against violators.

The IP laws aim to protect and secure the exclusive rights of scientists, inventors, artists and other gifted citizens to their intellectual property and creations, particularly when beneficial to the people, for such periods as provided in the law. Nobody else can copy or reuse that creation without the owner’s permission.

The Intellectual Property Association of the Philippines (IPAP) is the sole Philippine national group recognized by the APAA, the Asean

Intellectual Property Association, and the Association Internationale pour la Protection dela Propriete Industrielle.

IPAP was founded on March 31, 1977 with the aim of professionalizing the steadily growing practice of IP law in the Philippines.

IPAP’s founding member Atty. Alonzo Ancheta was the 2006-2009 president of APAA, the first Filipino to hold this position.

The Philippines hosted the APAA council meetings in 1990 (Manila Hotel), 2000 (Cebu), and 2011 (Shangri-La Makati).

IPAP’s past president Atty. Pablo Gancayco received the Enduring Award during last year’s APAA meeting in Singapore.

In the Philippines, Republic Act 8293 or the IP Code was signed into law on June 6, 1997, and took effect on January 1, 1998. The IP Code has adopted certain changes aimed at streamlining administrative procedures of registration and enhancing the enforcement of intellectual property rights in the country. One of its salient features is the shift from the “first-to-invent/use” to “first-tofile” system.

The IP Month is celebrated every April pursuant to Proclamation No. 190 signed in 2017 that aims to raise appreciation for the benefits that IP brings to Filipinos’ daily lives.

Atty. Dennis R. Gorecho heads the seafarers’ division of the SVBB law offices and is a board member of IPAP. For comments, e-mail info@ sapalovelez.com, or call 0917-5025808 or 09088665786

South Korea’s ability to arm Ukraine elevates its role at Nato summit

By Soo-Hyang Choi & Jon Herskovitz

ONE of the most influential people attending the NATO summit leads a country that is not a member. Yet it holds vast stores of weapons sought by the bloc to help Ukraine fight off Russia, and perhaps tip the battle in Kyiv’s favor.

Ukraine needs artillery shells. South Korea has millions and there is a push to convince its President Yoon Suk Yeol to change a government policy that prohibits Seoul from sending lethal aid to countries at war.

Yoon is attending the North Atlantic Treaty Organization summit this week for the third time but this visit is different. Just weeks before it opened, his government said a defense pact signed between Russia and North Korea in June has made it consider whether it’s time to start sending weapons to President Volodymyr Zelenskyy’s forces.

Zelenskyy, who has been seeking weapons from South Korea since Russia’s full-scale invasion started in 2022, will be attending the summit in Washington aimed at proving that NATO is as strong as ever in its 75th year. He is expected to speak at a meeting of the Indo-Pacific Four partners—Australia, Japan, New Zealand and South Korea—the Yomiuri newspaper reported, where he could again lay out his case for weapons.

“The types of weapons South Korea can provide Ukraine are the

ones that can make breakthroughs in the current stalemate on the front lines,” said Park Won Gon, a professor at South Korea’s Ewha Womans University, specializing in international relations.

Apart from the appeals from Zelenskyy, leaked intelligence obtained by the New York Times last year indicates Washington has been seeking to have Yoon send artillery to help Ukraine. Yoon’s aides were worried about pressure from US President Joe Biden, a document showed, and the Yoon government has denied the claims.

Congress finally approved $61 billion in funding in April, helping shift the balance of firepower, but the US and its European partners still need to ramp up their ability to make artillery shells.

The European Union missed a pledge to provide Ukraine with 1 million rounds of artillery by end-March and any munitions from South Korea could help fill shortfalls. Ukraine is estimated to need at least 200,000 rounds a month.

An unnamed senior Nato official said anything that South Korea provides to help Ukraine defend itself

would be welcome, Yonhap News agency reported.

South Korea has 155-millimeter artillery shells that are the Nato standard used by Ukraine. The stock is estimated to be at over 3 million shells, Yonhap reported.

Seoul may be less worried now about drawing down its inventory after seeing North Korea sending to Russia what Yoon’s government believes could be nearly 5 million shells. These arms transfers translated into Kyiv’s troops being outgunned by as much as 10-1 by President Vladimir Putin’s forces as military aid to Ukraine was delayed in the US Congress this year.

South Korea could also consider sending 105 mm artillery shells, which have less range but are fired from howitzers that are lighter and more mobile, the Center for Strategic & International Studies said in a report in March. South Korea has as many as 3.4 million shells that can be used by Ukraine, it said.

Meanwhile, countries bordering Russia have been buying weapons from the likes of South Korea’s leading defense contractor Hanwha Aerospace Co. Its tanks and howitzers are seen as less expensive than those from US makers and able to defeat Russian systems.

Yoon has said any decision on sending weapons would depend on Russia’s action. Lawmaker Kim Gunn, who served under Yoon as a

chief nuclear envoy until February, said the threat to supply arms to Ukraine is leverage to deter Russia from providing military support to North Korea.

Officials in Seoul have indicated a red line would be material, particularly technology that enhances Kim’s ability to make weapons of mass destruction. Putin has said he can’t exclude providing Kim with high-precision weapons in response to Western military assistance for Ukraine.

“From Seoul’s point of view, Russia’s cooperation with North Korea is a direct threat to its national security,” said Rachel Minyoung Lee, a senior fellow with the 38 North Program at the Stimson Center. She said it not only aids in advancing North Korea’s weapons development but also helps Pyongyang “manage and even improve its national economy by reviving the munitions industry.” Lee, who worked as an analyst for the CIA’s Open Source Enterprise, said South Korea has been able to deflect pressure by promoting other ways to contribute to Nato, such as cyber security, and Seoul should move cautiously.

“Direct provision of weapons to Ukraine is a major step, and that decision should be made based on South Korea’s national interest, which should also take into consideration its longer-term interest vis-a-vis Russia,” she said. Bloomberg

Zelenskyy blasts Modi’s visit to Russia as a blow to peace

By Sudhi Ranjan Sen & Dan Strumpf

UKRAINIAN President Volodymyr Zelenskyy slammed a visit by India’s prime minister to Russia, calling it a blow to peace efforts that fell on the same day as a deadly Russian missile strike.

“It is a huge disappointment and a devastating blow to peace efforts to see the leader of the world’s largest democracy hug the world’s most bloody criminal in Moscow on such a day,” Zelenskyy said in a post on the socialmedia site X. The post included photos of a missile strike that hit a children’s hospital in Kyiv and killed dozens. Zelenskyy’s comments came on

the second day of Prime Minister Narendra Modi’s two-day visit to Moscow, a trip that affirms longtime ties between the two countries but that has drawn concerns from the US, which has sought to isolate Russia for its invasion of Ukraine.

Modi met Russian President Vladimir Putin for a private dinner on Monday following his arrival in the Russian capital, India’s Ministry of External Affairs said. Russia’s first deputy Prime Minister Denis Manturov received Modi at Moscow’s airport.

US State Department Spokesman Matthew Miller told reporters Monday that Washington has already raised its concerns about India’s re-

lationship with Russia.

“We welcome people engaging with Russia about the war in Ukraine if they made clear to Russia that Russia needs to respect Ukraine’s territorial integrity and sovereignty,” Miller said. India has avoided censuring Russia for its war and abstained at United Nations votes on the issue, but has advocated diplomacy to resolve the conflict.

Modi posted photos of himself on X hugging Putin when they met Monday, saying he was looking forward to further talks “which will surely go a long way in further cementing the bonds of friendship between India and Russia.” Isolated for its invasion of Ukraine,

Moscow has laid out the red carpet for Modi. India is a major buyer of Russian oil and military hardware supplies. Maintaining the relationship is a balancing act for Modi, which is seeking investment and technology from the US. Washington is also seeking closer ties with India, which it sees as a regional counterweight to China. Economic issues, energy supplies and manufacturing will dominate Modi’s visit, as the two countries look to bolster the relationship, Indian officials said. On Tuesday, Modi will visit an exhibition of the Russia’s state-owned nuclear energy industry in Moscow before engaging Putin in formal bilateral talks in the afternoon. Bloomberg

Dennis Gorecho

Exports down 3.1% in May, but 5-mo earnings up 7.8%

By Andrea E. San Juan @andreasanjuan

WHILE Philippine exports earnings grew 7.8 percent in the January to May 2024 period, the country’s outbound shipments declined by 3.1 percent in May 2024, compared to last year, data from the Philippine Statistics Authority (PSA) showed.

PSA data showed that the country’s export sales dipped by 3.1 percent to $6.33 billion in May 2024, from the $6.53 billion booked in the same month last year, while exports saw a 27.9-percent increase in April 2024 and 2.7-percent growth in May 2023. In May 2024, PSA noted that electronic products suffered the highest decline in exports, as outbound shipments of electronics went down by $190.23 million to book $3.56 billion from last year’s $3.75 billion.

This was followed by other mineral products with an annual decline of US$43.66 million, and ignition wiring set and other wiring sets used in vehicles, aircrafts and ships, with an annual decline of US$29.54 million. In the January to May 2024 period, however, the country’s outbound shipments amounted to $30.84 billion, a 7.8-percent increase from the $28.61-billion export receipts in the five-month period last year.

Likewise, imports in May 2024 de-

clined 0.03 percent to $10.93 billion from the $10.93 billion recorded in the same month last year. This month alone, PSA said the commodity group with the highest annual decline in imported goods was transport equipment with $348.54 million.

This was followed by other food and live animals, which declined by $62.73 million and electronic products, which dipped by $54.87 million.

Rizal Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort explained the “relatively” faster pickup in exports earnings to among 7-month highs compared to the pickup in imports value to among 6-month highs.

He said this “may be partly due to the weaker peso exchange rate vs. the US dollar since 2022 by nearly 15 percent that made exports more price competitive or cheaper from the point of view of international buyers; while making imports more expensive from the perspective of local buyers.”

Meanwhile, the country’s trade gap or the difference between exports and imports amounted to a $4.60-billion deficit in May 2024, narrowing from the $4.73-billion deficit in April 2024.

Ricafort explained that while the $4.60-billion shortfall is among the widest in six months or since November 2023, it is still among the “narrowest” in two years or since March 2022.

Among the country’s trading partners, exports to the United States of America (USA) still occupied the largest chunk in export sales, amounting to $1.08 billion or a 17-percent share in the country’s exports pie in May 2024.

This was followed by Hongkong, with $904.79 million or a 14.3-percent share; Japan, $882.70 million or 13.9-percent share; People’s Republic of China, $847.12 million or 13.4-percent share; and Thailand, $267.14 million or 4.2-percent share.

On the other hand, PSA noted that People’s Republic of China was the country’s largest supplier of imported goods as it amounted to $2.73 billion or 25-percent share of the country’s import earnings in May 2024.

This was followed by South Korea with $989.60 million or 9.1-percent share; Indonesia, with $972.15 million or 8.9-percent share, USA with $748.19 million or 6.8-percent share and Thailand with $707.44 million or 6.5-percent share.

By Jovee Marie N. dela Cruz

@joveemarie

HOUSE Secretary General Reginald Velasco made it clear on Wednesday that the total funding allotted for the 2024 State of the Nation Address (Sona) is P20 million.

Velasco issued a statement addressing recent misunderstandings and providing detailed insights into the expenditure plan for Sona 2024.

In a Tuesday interview, Velasco said the budget for food alone is about P20 million, featuring Filipino cuisine.

“The amount of P20 million I referred to represents the total budget earmarked for the preparations and execution of the Sona. This figure

is an estimate and has not yet been fully expended. The budget covers a range of essential expenses to ensure the event’s success, beginning on March 12, 2024, when the Sona Task Force was created,” Velasco explained.

He said the allocation includes provisions for meals for all personnel involved, encompassing internal staff, police, MMDA officers, and support staff, and covering all preparatory activities leading up to the event.

He said approximately 2,000 Secretariat employees will each receive three sets of uniforms, designated for both the Sona and their daily duties.

He added the allocations for security measures, including person-

nel and equipment, to ensure safety and orderliness.

Also, Velasco noted the expenses for interagency coordination meetings to facilitate seamless planning.

He also emphasized that the costs of printing invitations and providing giveaways as tokens of appreciation are included, along with rental expenses for audiovisual equipment.

He said there are budget provisions for potted plants, flowers, and other decorations to enhance the venue’s atmosphere, and additional expenses cover collateral, communication needs, medical support, and incidentals.

“As Secretary General of the House of Representatives, I want

By Reine Juvierre S. Alberto

THE Department of Budget and Management (DBM) released P11.208 billion in calamity funds as of end-June 2024 to rehabilitate various projects devastated by disasters. Latest data on the status of the National Disaster Risk Reduction Management (NDRRM) fund showed the release of funds increased by 32.81 percent to P11.208 billion in January to June 2024, from P8.439 billion in the same period in 2023. The bulk of the fund was allotted to the Department of Public Works and Highways (DPWH), amounting to P6.521 billion as of end-June.

Of the amount, P1 billion was released in June to cover the funding to replenish the fiscal year 2024 Quick Response Funds (QRF).

QRF is a stand-by fund used to cover relief and rehabilitation in case of disasters and calamities.

To fund the repair/rehabilitation/reconstruction of various flood control structures in Oriental Mindoro affected by the Low-Pressure Area, Shearline and the Northeast and Southwest Monsoons in 2023, P458.298 million was released to DPWH.

Moreover, P270.481 million was disbursed for the reconstruction of slope protection projects in Balungao, Pangasinan, damaged by Typhoon “Goring” in 2023.

to assure the public that we are committed to transparency and responsibility in spending public funds. Every peso allocated for the Sona is carefully scrutinized to reflect the significance of this constitutionally mandated event while considering public sentiments regarding the use of taxpayers’ money,” Velasco stressed.

“Our goal is to ensure that the 2024 Sona is conducted with the highest standards, reflecting our dedication to serving the people with integrity and accountability,” he added.

Velasco said an estimated 2,100 lawmakers, government officials, and guests are expected to attend the “biggest” Sona in history on July 22.

Meanwhile, the Department of Social Welfare and Development (DSWD) was allocated P3.761 billion in calamity funds as of end-June. DSWD was given P875 million to replenish the FY 2024 QRF.

The Department of Human Settlements and Urban Development (DHSUD) was also allotted P374.970 million for the first half of the year.

Furthermore, the Department of National Defense (DND) was allotted P100 million to replenish the Office of Civil Defense’s QRF.

The National Irrigation Administration (NIA) was allocated P450 million as a subsidy of the government for the major rehabilitation and improvement of the Mahayag Dam Salug River Irrigation System (Saris), which was damaged by heavy flooding in 2022.

The DBM has yet to release P11.529 billion in calamity funds out of the P22.753 billion allotted for 2024.

The NDRRM fund shall be utilized for aid, relief, and rehabilitation services to communities and areas. It may also be used for the repair, rehabilitation and reconstruction work related to the occurrence of natural or humaninduced calamities in the current or two preceding years, subject to the President’s approval. The fund also serves as another funding source for agencies whose budgets include provisions for QRF when the balance has reached 50 percent, subject to DBM’s approval.

About P94.323 million was also released to improve infrastructure projects in Cordillera Administrative Region, Regions I and IVB (Mimaropa) damaged by Typhoon “Paeng” and Tropical Cyclone “Egay,” in 2022 and 2023, respectively.

Pagcor chief links Roque to Pogo; but advises

vs

total ban

FBy Butch Fernandez @butchfBM

ORMER Cabinet Secretary Harry Roque arranged for a meeting with Pagcor of a big Pogo licensee last year, the chairman of the Philippine Amusement and Gaming Corp. told senators on Wednesday.

Replying to a query by Sen. Risa Hontiveros on a “former Cabinet official who lobbied” for a Pogo entity with his office, Alejandro Tengco revealed the details of that case.

Sometime in July 2023, Tengco’s office got a call from Roque, asking for an appointment with him. On July 26, 2023, Roque visited his office in Pagcor in Ermita, Manila, along with a woman, whom he introduced as Cassandra Ong, who was “facing a problem” related to her payment of her company billings to Pagcor.

Tengco recalled Ong narrating how she trusted their authorized representative, named Dennis Cunanan, to whom they gave, for six months, their payments meant for Pagcor. Besides the regular payments, Cunanan asked them for more funds for “additional fees and penalties.” She was shocked later when Atty. Jessa Fernandez of Pagcor wrote them about USD500,000 in their “six-month arrears” to Pagcor.

Ong asked for reprieve or some relief to settle the arrears. They could only pay a portion of arrears that time. When Tengco checked, indeed, Ong’s representative had just deposited USD200,000 with LandBank to settle part of the

Pagcor arrears.

Tengco said the ex-Cabinet official did not follow up with him on behalf of Ong for her re-application under Pagcor’s new guidelines. Roque also did not apply “pressure” on them.

Ban ill-advised

PAGCOR chief Tengco, meanwhile, also told a tricommittee probing alleged crimes associated with Pogo that a drastic, full-scale shutdown of all Pogo entities nationwide will only serve to disperse nationwide the foreign criminal syndicates that have used Pogos as cover, while depriving government of the billions of revenue derived from them.

If IGLs [internet gaming licensees] “are properly regulated and really properly monitored, sayang ang buwis na kikitain ng Pagcor and BIR [then it’s a pity if we lose the revenue for Pagcor and BIR],” said Tengco. According to him, 50,000 Filipinos could lose jobs in one blow— “at a time when times are hard all around the world.” He said 30,000 Pinoys are directly working in IGLs; there are 10,000 workers in 10 SBPOs; and thousands of others in auxiliary services—transport, security, messengerial.

“We are taking to BIR, we get monthly reports, and they get copies. Our position for now is No to a total ban. But if the Senate, the Executive, decide to shut them all down, we respect that,” he said, partly in Filipino.

NAIA TRANSIT LOUNGE General Manager Eric Ines (left) of the Manila International Airport Authority (MIAA) and Philippine Airlines President and COO Capt. Stanley Ng shake hands at the entrance to the newly set up Transit Lounge at the Ninoy Aquino International Airport (NAIA) Terminal 1 on Wednesday. The transit lounge, situated at the predeparture area adjacent to the

Lounge,

Farmers to Executive: Wait for SC ruling on rice tariffs

By Joel R. San Juan | @jrsanjuan1573 & Ada Pelonia

THE Executive branch should wait for the Supreme Court’s decision on a petition against an order that mandated the reduction of rice tariﬀs to 15 percent, according to farmers’ groups.

The groups noted the SC is still asking the President and other members of his Cabinet to respond to the petition they ﬁled against Executive Order (EO) 62.

On Wednesday, the high court directed President Ferdinand “Bongbong” Marcos Jr. and several other government officials to comment on the petition filed by various groups in the agriculture sector seeking to declare unconstitutional Executive Order No. 62 which lowers the tariff on imported rice and other agricultural products.

At a press brieﬁng, SC spokesman Atty. Camille Sue Mae Ting said the magistrates issued the order during their en banc session.

Likewise, the Court deferred acting on the prayer of the petitioners led by Samahang Industriya ng Agrikultura (Sinag) Inc., for the issuance of a temporary restraining order (TRO) to immediately enjoin the implementation of the EO 62.

“The Court without giving due

course to the petition and prayer for TRO, required the respondents to file their comments within a nonextendible period of 10 days from notice,” the SC said.

The petitioners immediately welcomed the Court’s decision to compel respondents to comment on their petition, and urged Marcos Jr. and the other respondents to halt the implementation of the order pending the SC decision on the merits of the case.

“Sinag and the whole agri sector welcome the order of the Supreme Court in requiring the respondents to ﬁle their comments within 10 days,” Sinag chair Rosendo So said.

“Considering that the matter of the constitutionality/validity of EO 62 is now pending before the SC, the pendency of this legal action should be respected by the respondents; defer any action in relation to EO 62 and, give due respect to the SC,” the group said.

“The Federation of Free Farmers

[FFF] welcomes the Supreme Court’s quick action by requiring the President and other respondents to comment on our petition against EO No. 62 within ten days,” FFF Chairman Leonardo Montemayor said, noting that they would have hoped for the issuance of a TRO in the interim.

The broad agriculture sector coalition Sinag also welcomed the high court’s move, urging the public to support rice farmers, corn growers, hog producers, and poultry raisers.

“Considering that the matter of the constitutionality/validity of EO 62 is now pending before the SC, the pendency of this legal action should be respected by the respondents,” Sinag said in a statement.

“Defer any action in relation to EO 62 and give due respect to the SC,” it added.

EO 62 also known as “Modifying the Nomenclature and Rates of Import Duty on Various Products,” lowered the tariﬀ on rice from 35 percent to 15 percent; and tariﬀs on other agricultural products.

The order, according to the Palace, could bring down the price of rice to P6 to P7. However, certain economists had said the impact of the lower tariffs on prices in the local market would not be felt right away.

OSG studying legal issues

THE Oﬃce of the Solicitor General (OSG), which serves as the chief government counsel, said it has yet to receive a copy of the Court’s resolution requiring it to comment on the petition, but is already studying the legal issues raised in the actual petition.

Solicitor General Menardo Guevarra, however, said EO 62 will continue to be implemented unless a TRO is issued by the Court.

“We do not know whether the SC will issue a TRO or not in the days to come. I suppose the SC justices are also presently evaluating whether any injunctive relief is necessary as far as the government is concerned; however, the EO will be implemented unless temporarily restrained by the SC,” Guevarra stressed.

Aside from Sinag, other petitioners in the case are Federation of Free Farmers Inc. (FFFI), United Broiler Raisers Assn. 1 Inc., Sorosoro Ibaba Development Cooperative (SIDC), and Magsasaka Partylist representative Att. Argel Cabatbat, Marcos Jr., Executive Secretary Lucas Bersamin, National Economic and Development Authority (Neda) Secretary Arsenio Balisacan and Tariﬀ Commission chairperson Marilou Mendoza were named respondents in the petition.

The petitioners argued that EO 62 should be scrapped for being unconstitutional as it was hastily issued without proper consultation with the aﬀected stakeholders.

They added that EO 62 violates the limitation/conditions set forth in the Flexible Clause of Republic Act 10863 which makes its issuance invalid and the exercise tantamount to undue delegation of legislative powers.

The order also violates the state policy to develop a self-reliant and independent national economy effectively controlled by Filipinos and violates the constitutional mandate to protect the farmers from unfair competition and trade practices.

‘PHL must attract investments that help it make its own steel products’

By Andrea E. San Juan @andreasanjuan

AS the fifth most mineralized country in the world, the Philippines should attract more investments in the processing of basic steel raw materials such as iron ores and coal towards the establishment of integrated steel mill—one that will enable the country to manufacture its own steel products, according to the Philippine Economic Zone Authority (Peza).

Peza Director General Tereso O. Panga said this in a social media post after he joined President Ferdinand Marcos Jr., Trade and Industry Secretary Alfredo E. Pascual, Steel Asia Chairman Benjamin Yao and Special Assistant to the President for Investment and Economic Affairs Frederick Go, among others, at the inauguration of Steel Asia’s Compostela Steel Works in Compostela, Cebu on Tuesday.

“With [the] Philippines’s status as the 5th mineralized country in the world, the government can induce more investments into

Tengco said that, “if we do that [total shutdown],” the danger is that these criminals will further go underground and disperse across the country. “These criminals, now spread out all over the Philippines, won’t go back to China,” he stressed. Instead they will continue nefarious activities here, so “we must keep tracking them down,” he said.

“If we can’t run after them, then the reason for shutting down [Pogos] becomes for naught—while we lose such precious revenue,” Tengco explained in Filipino. Definitely, he said, “we condemn

localization of processing of basic steel raw materials such as iron ores, coal and limestone towards the establishment of integrated steel mill that will allow the country to manufacture its own steel products,” Panga said.

According to the Peza chief, the “world-class” steel mill in Cebu which utilizes Danieli equipment from Italy—the global industry leader in rebar rolling technology—enables SteelAsia to process billets at a lot faster time, while minimizing carbon dioxide emissions for “better yields and higher productivity.”

Panga stressed that the steel mill’s “longer” horizontal mills enable the steel ﬁrm to engage in the production of long products segment, particularly rebars of all sizes and with a commercial length of up to 12m to 18m.

“As Southeast Asia’s largest rebar manufacturer, SteelAsia has exported over 41,148 metric tons [since 2023] of high-strength 18m steel bars to Canada for its subway system. This only proves that the Philippines can become a major steel producer for both domestic and export markets,”

all these criminal activitiies. We are doing things, maybe not enough or not fast enough, but in the past two years,” Pagcor’s reforms have caused a drastic lowering of illegal activities,” he noted. Asked by Sen. Sherwin Gatchalian for a guarantee “this will be the last cases” of criminal activity related to Pogo, Tengco replied, “I cannot assure that this will be the last chapter” of the cases of torture, illegal detention, etc. However, he pointed out, what happened to Bamban and Porac cannot happen now, “because we are already banning hubs under our new

Panga stressed.

Self-sufficiency in steel

WITH this, Panga said the Department of Trade and Industry (DTI) and Peza “can contribute a lot in the country’s attainment of selfsuﬃciency in our steel requirements by hosting integrated- and ministeel manufacturing facilities in the ecozones.”

By providing for distributed utilities system, Peza said it can allow for embedded power, water and gas providers to “co-locate” with process subcontractors to lower the country’s production cost and make viable steel manufacturing in the country’s ecozones.

Meanwhile, for Peza, Panga said, the agency can provide for the “best” location and business ecosystem for investors, adding that the agency hopes to host SteelAsia’s next big-ticket and most high-tech steel manufacturing facility in the ecozone.

The Peza chief also urged the government to beef up not only steel production but also other “critical elements” of industrialization.

“As steel is often referred to as the

guidelines—we won’t allow any hub, existing or about to be applied for— because we want to be site-specific n location-specific—no longer contained in sprawling, tightly guarded enclaves” such as those in Bamban, Tarlac and Porac, Pampanga, where regulators and local officials and police could not enter tightly guarded enclaves housing dozens of structures.

Roque: Lucky South not my client

IN a statement, Roque “vehemently” denied representing an illegal Pogo. “As clearly stated by Pagcor Chairman Alejandro Tengco in today’s Sen-

Alice Guo asks SC to stop Senate from compelling her to attend Pogo probe

Texcess of jurisdiction.” The petitioner claimed her constitutiona rights to due process and to privacy were vio ated when she appeared in the first two hearings of the committee he d on May 7 and May 22 2024 She noted that the Court had previously nullified the orders issued by the Senate and the House of Representatives in conducting inquiries in aid of egislation on the grounds of grave abuse of discretion.

During the May 7 and May 22 2024 hearings

Guo s camp said several violations of petitioner s right to due process were committed.

Gu o noted that she was in v ited as a resource person to discuss “what she knows” b u t in rea l ity she was ne ver a fforded any opportunity to sufficiently exp ain her side whenever a certain issue was raised. She added that despite being asked questions relative to the issues against her her side of the story was never considered as she was a ready branded a “liar,” “spy,” and “Pogo operator.” Guo s camp pointed out that the mayor was invited to testify on her know edge about

backbone of vital infrastructure and modern industry, the government is stepping up to boost local steel production in support of our massive infrastructure projects and growing manufacturing sector,” said Panga.

He added: “It is a must that we strengthen as well the factories, reﬁneries [especially petrochemical], mines, and agribusiness, which are all critical elements of industrialization.”

As the country’s leading provider of world-class steel products, SteelAsia operates six manufacturing facilities in Bulacan, Batangas, Cebu and Davao that directly employ 2,605 employees and produce a total of 3 million metric tons of ﬁnished steel products per year.

Currently, 86 percent of the country’s steel needs are imported mostly from Vietnam, with SA only making reinforcement bars (rebars), Panga said.

SteelAsia’s upcoming facilities with capital investment of P65 billion will produce steel products that are not yet being manufactured in the country, such as H-beams, I-beams, wire rods, sheet piles, and billets, the Peza chief added.

ate hearing, I requested a rescheduling of arrears payment of a lessee and principal of my client Whirlwind Corporation. My client is a service provider to Lucky South, then a holder of a valid license from Pagcor,” Roque explained. He also said Hontiveros’ conclusion was wrong “that I lied when I claimed in the media that I am Whirlwind’s counsel.” He stressed, “I did not consent to nor was I informed of my name’s inclusion in any submission by Lucky South with the Philippine Amusement and Gaming Corporation [Pagcor] concerning license renewal.”

By Manuel T. Cayon

He continued: “If her only basis is the organizational chart naming me as legal counsel of Lucky South 99, then I challenge her to prove that I had a direct hand in preparing the said document. No such evidence exists.”

He also disputed that Cassandra Ong was Lucky South’s representative. “Both Chairman Tengco and Atty. Jezza Fernandez admitted that Dennis Cunanan was still the Pogo’s official liaison to Pagcor when Ms. Ong and I met with them on July 26, 2023. That is a matter of record. “I accompanied Ms. Ong in the meeting because I thought Lucky

South—Whirlwind’s principal—was a victim of estafa. By way of accommodation, I joined Ms. Ong since I was then persuading Whirlwind to invest in two energy projects of which I was the primary proponent.” Roque said he has “no reason to deny my legal engagement with Lucky South if there is truth to it. Providing legal representation is why the legal profession exists. But the reality is that an attorney-client relationship

PHL targets fivefold rise in cacao production

By Ada Pelonia @adapelonia

THE Philippines is aiming to increase the yield of local cacao plantations as global demand for the crop continues to rise, according to a senior oﬃcial of the Department of Agriculture (DA).

Agriculture Undersecretary

Cheryl Marie Natividad-Caballero

said the Department of Agriculture (DA) wants to raise the output of each cacao tree to 1 kilo from the current 0.5 kg. This, she said, will help the Philippines achieve its target of producing 50,000 metric tons (MT) of cacao by 2025.

Data from the Philippine Statistics Authority (PSA) showed that cacao production reached

10,759.12 metric tons (MT) in 2023, slightly higher than the 10,446.07 MT recorded in 2022.

Caballero also said each tree could produce as much as 3 kilos of beans. This, she said, can be done through proper crop nutrition, integrated pest management, and proper pruning.

An industry roadmap prepared by the DA showed that the 2 kilo per tree yield performance has not

been achieved by most farms due to the limited supply of quality planting materials and

lack of training on good agricultural practices. “Other farms have produced as

DA asks Vietnamese firm to build fertilizer factory in PHL

THE Department of Agricul-

ture (DA) is urging a Vietnamese fertilizer manufacturer to put up a factory in the Philippines to make its products more accessible to local planters.

The DA said a delegation led by Agriculture Secretary Francisco Tiu Laurel Jr. met executives of Binh Dien Fertilizer Joint Stock Co. in Vietnam to explore areas of cooperation, particularly the potential for the firm to supply, or if viable, to manufacture fertilizer in the Philippines.

During his recent visit to Binh Dien’s facilities, Laurel highlighted the need for the Vietnamese fertilizer giant’s presence in the Philippines to help increase local farm production.

“We see great potential in partnering with Binh Dien. Our

country stands to benefit significantly from their advanced technology and expertise in agriculture,” he said in a statement.

Established in 1975, Binh Dien has grown to become Vietnam’s leading producer of NPK (a mixture of nitrogen, phosphorus, and potassium in fertilizers) and a major driver of agricultural and rural development in the country. It has several factories with a combined capacity of 1 million metric tons (MMT) that supply 30 percent of Vietnam’s fertilizer requirements.

The agri chief said Binh Dien could initially agree to a distribution agreement that could eventually lead to the transfer of technology and even potential investment in a manufacturing facility in the country.

“We have high expectations

following our visit to Binh Dien’s factory. Their management and technical team’s expertise is impressive and much needed in the Philippines.”

The DA said the Vietnamese company sees the Philippine market as “a strategic opportunity” to expand internationally.

“They aim to contribute their specialized knowledge to enhance agricultural practices in the Philippines while fostering their growth outside Vietnam.”

The DA noted that discussions concluded with optimism for a fruitful partnership, highlighting mutual benefits and the potential for significant advancements in agricultural technologies between the two countries.

Vietnam is a major exporter of rice and is currently the Philippines’

main source of the staple. Vietnam earlier agreed to a fiveyear trade deal to supply through the private sector up to 2 MMT of white rice every year to the Philippines at a competitive and affordable price.

The country relies heavily on imports to meet its demand for various fertilizer grades. Citing data from the Bureau of Customs, the Congressional Policy and Budget Research Department (CPBRD) said imports accounted for almost 87 percent of the fertilizer used by the Philippines in 2021 to 2023.

Last year, the think tank said the country imported a total of 2.54 million metric tons of fertilizer products, mostly from China. Of the volume, more than half consisted of nitrogenous types like urea. Ada Pelonia

‘Tomato prices to soften as harvest begins in Southern Tagalog’

THE Department of Agriculture (DA) said Wednesday the public can expect lower tomato prices owing to the incoming volume of harvest.

Agriculture Assistant Secretary and Spokesman Arnel de Mesa told reporters that farmers in Southern Tagalog have started to harvest their crop.

“We expect prices to go down in the coming days,” he said in an interview.

Tomato prices in Metro Manila markets ranged between P140 and P220 per kilo as of July 9, according to the latest price monitoring

report of the DA. The figures are higher than the P90 to P160 per kilo recorded on June 25.

De Mesa attributed the hike in tomato prices to weather disturbances, such as typhoons. He said this could also be due to soaring oil prices.

“If the tomatoes would come from Benguet, Baguio, or Southern Tagalog, traders would incur additional expenses because fuel is expensive.”

Agriculture Secretary Francisco Tiu Laurel Jr. recently issued a memorandum order approving the distribution of P510.447 million

worth of fuel subsidies to farmers.

Laurel said the fuel subsidies would be distributed to about 160,000 farmers who own or rent machinery used in crop, livestock, and poultry production. He said they expect the subsidies would alleviate the financial burden on farmers amid the rising fuel cost.

According to the department, farmers who have agricultural machinery and equipment and are listed in the “Registry System for Basic Sectors of Agriculture” (RSBSA) will receive a fuel subsidy of P3,000 each.

DA said the distribution of these subsidies will be facilitated

through assistance cards provided by the Development Bank of the Philippines (DBP) and its financial technology partners.

Laurel said this forms part of several initiatives by the administration to support farmers, “who are integral to ensuring food security and are considered the backbone of the economy.”

“This is just one of the several assistance projects that the Marcos administration provides to ease the burden of our farmers, the unsung heroes of our economy and the main pillar of our food security goal.”

Ada Pelonia

Govt wants local farms to produce more garlic

THE Department of Agriculture (DA) wants to expand the output of native garlic to make it more accessible to consumers.

Agriculture Undersecretary Cheryl Marie NatividadCaballero issued the statement after the DA’s latest price watch report as of July 6 showed that the price of garlic in some markets in Metro Manila jumped to as high as P500 per kilo.

“For our local garlic, we

produce only 3 percent of the requirement and 90 percent of that comes from the Ilocos region,” Caballero told the BusinessMirror in an interview.

She said native garlic has become a “prized commodity” because of its superior quality compared to the imported varieties.

The country’s selfsufficiency in garlic was 5.5 percent in 2022, according to the Philippine Statistics Authority (PSA). The Ilocos

Region was the top producer as it accounted for a chunk of the national output of 5,884.93 metric tons (MT).

“Agriculture Secretary Francisco Tiu Laurel Jr. has given us instructions to prop up the local production of garlic,” Caballero said in a mix of English and Filipino.

She said the department has spoken with provincial officials in the Ilocos region and Mindoro to provide support for the planting

materials and access to credit for areas planted with garlic.

“Secretary Laurel was able to approve the proposed financing, the loan package for the garlic production for 300 hectares,” Caballero said, noting that the loan would be around P50 million.

“We work either through organizations or with the local governments, so that has always been the case for the national government’s intervention.” Ada Pelonia

high as 2 to 3 kilograms (kg) per tree. So, this will now boil down to how the farmers can take care of

their trees and sustain the pruning and cultural management,” Caballero told the BusinessMirror in an interview.

She said the government is providing cacao farmers with crop nutrition management along with organic and inorganic fertilizers and farm equipment while expanding support toward the fermentation of beans. Demonstration farms have also been set up to assist planters.

“We also do capacity-building activities in partnership with local government units (LGUs) and extension workers. We are working on the quality planting materials and promoting the value addition of the products by giving research support.”

To allow farmers to earn while waiting for a long-gestating crop like cacao to bear fruits, Caballero said the government is encouraging them to consider planting other cash crops.

PSA data indicated that the country had more than 6.6 million fruit-bearing cacao trees last year, 3 percent higher than the previous year’s 6.48 million.

Malaysian palm grower ready for tougher ESG rules with IPO

JOHOR Plantations Group Bhd. (JPG) will use funds raised in its 735 million ringgit ($156 million) initial public offering (IPO) to build a palm oil operation powered by clean energy, as it navigates increasingly tough regulations in key markets like Europe.

The mid-sized producer is confident about appealing to European consumers thanks to its short, sustainability-certified supply chain and plans to halve its carbon output by next year, Managing Director Mohd Faris Adli Shukery said in an interview ahead of the listing on Tuesday.

The company’s shares rose as much as 10.7 percent on its debut and were trading at 0.93 ringgit as of mid-morning in Kuala Lumpur Growers of the world’s mostconsumed edible oil are facing heightened global scrutiny over their devastating impact on tropical rainforests, with the most immediate pressure coming from the European Union Deforestation Regulation. Due to come into effect by the end of the year, the law forces companies selling commodities like palm oil and cocoa to make sure their products don’t come from recently deforested land.

Malaysia is the world’s secondlargest palm oil producer and Europe is among its biggest export markets.

For JPG, it’s a chance to accelerate its net zero plans, Faris said in the interview in Kuala Lumpur, adding that the company is committed to meeting “whatever developments that have been put by different jurisdictions.”

“Given that we have a restricted production volume and we are certified, we are optimizing that opportunity in being able to accommodate” stricter environmental

requirements including the EUDR, he said.

Bigger palm oil producers have struggled to completely stamp out deforestation and prove their supply chains are fully-traceable right down to the estate. By comparison, JPG, with a valuation of more than 2 billion ringgit, has around 56,000 hectares of planted area in the southern region of Peninsular Malaysia.

“End-buyers are looking at companies which have got more distinctive characteristics,” Faris said. “In our case, you’re talking about a shorter supply chain, and a very confined geographical area of production,” containing risks, he said.

The IPO is the largest in Kuala Lumpur since the first quarter of 2022, when dairy maker Farm Fresh Bhd. raised $240 million. Since then, the market for new share sales across Southeast Asia has been slow amid low valuations.

Companies that listed in Malaysia over the past 10 years with offerings larger than $100 million, rose by 4 percent on average in their opening session, according to data compiled by Bloomberg.

JPG plans to spend its IPO proceeds on building a palm oil complex powered by renewable energy, replanting old trees, and repaying debt. It also plans to develop new income streams with three biomethane plants that will be running by the end of the year.

The firm will launch a specialty oils and fats refinery that is a joint venture with global food ingredient manufacturer Fuji Oil Holdings Inc., which when completed in 2026, will boost JPG’s revenue by at least 20 percent, Faris said. Bloomberg News

• Editor: Angel R. Calso

Airstrike on school-turned-shelter in southern Gaza kills 25; Israeli assault shuts down medical facilities

By Wafaa Shurafa & Samy Magdy The Associated Press

DEIR AL-BALAH, Gaza Strip—

An Israeli airstrike on a schoolturned-shelter in southern Gaza killed at least 25 Palestinians on Tuesday, as heavy bombardment in the north forced the closure of medical facilities in Gaza City and sent thousands ﬂeeing in search of increasingly elusive refuge.

Israel’s new ground assault in Gaza’s largest city is its latest effort to battle Hamas militants regrouping in areas the army previously said had been largely cleared.

Large parts of Gaza City and urban areas around it have been flattened or left a shattered landscape after nine months of fighting. Much of the population fled earlier in the war, but several hundred thousand Palestinians remain in the north.

“The fighting has been intense,” said Hakeem Abdel-Bar, who fled Gaza City’s Tuffah district to the home of relatives in another part of the city. He said Israeli warplanes and drones were “striking anything moving” and that tanks had moved into central districts.

The strike at the entrance to the school killed at least 25 people, according to an Associated Press reporter who counted the bodies at Nasser Hospital in Khan Younis. Hospital spokesperson Weam Fares said the dead included at

least seven women and children and that the toll was likely to rise.

Earlier airstrikes in central Gaza killed at least 14 people, including a woman and four children, according to two hospitals that received the bodies. Israel has repeatedly struck what it says are militant targets across Gaza since the start of the war nine months ago.

The military blames civilian deaths on Hamas because the militants fight in dense, urban areas, but the army rarely comments on individual strikes, which often kill women and children. The Israeli army said the airstrike near the school and reports of civilian casualties were under review, and claimed the strike targeted a Hamas militant who took part in the October 7 attack on Israel.

There was also no immediate word on casualties in Gaza City. Families whose relatives were wounded or trapped were calling for ambulances, but first

China opens tit-for-tat investigation into European Union’s trade barriers

By Bloomberg News

CHINA is investigating whether the European Union’s spate of actions against the world’s No. 2 economy constitute an illegal barrier to free trade, as the two blocs edge another step closer to a trade war.

The Ministry of Commerce said the Chinese probe would span a range of sectors, including rail, solar and wind power, and security equipment in a Wednesday statement. Those are areas the EU has targeted in recent months with an array of new tools, which it says are designed to defend itself against Beijing’s unfair practices.

If Beijing determines an EU measure to be illegal, Chinese officials could conduct bilateral talks, start a multilateral dispute settlement and take “other appropriate measures,” according to the rules of the probe. In a separate document, the ministry said steps could include a recommendation to introduce “retaliatory measures.”

A spokesperson for the European Commission didn’t immediately reply to a request for comment. Beijing’s relationship with the EU has hit fresh lows in recent months, as the bloc brings its China policy closer to that of the US. American and European leaders have slammed Beijing for flooding their markets with a surge in cheap exports, and raised the alarm about strengthening economic security as tensions flare.

At the center of those strains with the EU are China’s electric car exports, which Europe is worried threaten jobs in its own autos sector. The bloc last week set provisional tariffs as high as 37.6

percent against some car exports from China, after US President Joe Biden announced a new 100 percent tariff on such Chinese products.

On top of that, the EU has launched a probe into China’s procurement of medical devices under a new tool to ensure reciprocity, and used fresh anti-subsidy rules to raid a Chinese security equipment firm it claimed had used subsidies to distort the market. China, which says the EU’s actions violate the principle of free trade, has responded with investigations into French brandy and Spanish pork, as well as telegraphing threats against other industries such as large-engine cars that Germany specializes in and aviation, a sector where France looms large. Beijing’s wide-reaching investigation should be completed by Jan. 10, with a possible extension till mid-April, according to the Ministry of Commerce statement. The probe was launched on the back of a request from the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, it added.

The results will come shortly after the November deadline for the EU to decide whether to impose lasting tariffs on electric cars from China.

Behind closed doors talks are underway on the EV tariffs, with the EU welcoming China to respond to the findings of its probe. Despite that, the EU ambassador to China said Beijing only recently responded to the bloc’s requests for talks—a claim commerce officials dismissed as “definitely inconsistent with facts.” With assistance from Kevin Whitelaw/Bloomberg

responders could not reach most of the affected districts because of the Israeli operations, said Nebal Farsakh, a spokesperson for the Palestinian Red Crescent.

“It’s a dangerous zone,” she said.

After Israel on Monday called for an evacuation from eastern and central parts of Gaza City, staff at two hospitals—Al-Ahli and the Patients Friends Association Hospital—rushed to move patients and shut down, the United Nations said. Farsakh said all three medical facilities run by the Red Crescent in Gaza City had closed.

Scores of patients were transferred to the Indonesian Hospital in northern Gaza, which itself was the scene of heavy fighting earlier in the war. “We do not know where to go. There is no treatment and no necessities for life,” said Mohammad Abu Naser, who was being treated there. “We are dying slowly.”

The Israeli military said Tuesday that it told hospitals and other medical facilities in Gaza City

they did not need to evacuate. But hospitals in Gaza have often shut down and moved patients at any sign of possible Israeli military action, fearing raids.

The Episcopal Church in the Middle East, which operates AlAhli, said the hospital was “compelled to close by the Israeli army” after the evacuation orders and a wave of nearby drone strikes on Sunday.

In the past nine months, Israeli troops have occupied at least eight hospitals, causing the deaths of patients and medical workers along with massive destruction to facilities and equipment. Israel has claimed Hamas uses hospitals for military purposes, though it has provided only limited evidence.

Only 13 of Gaza’s 36 hospitals are functioning, and those only partially, according to the United Nations’ humanitarian office.

Israel’s campaign in Gaza, triggered by Hamas’ October 7 attack, has killed or wounded more than 5 percent of Gaza’s

2.3 million Palestinians, according to the territory’s Health Ministry. Nearly the entire population has been driven from their homes. Many have been displaced multiple times. Hundreds of thousands are packed into sweltering tent camps.

The UN humanitarian office said the exodus in Gaza City was “dangerously chaotic,” with people instructed to flee through neighborhoods where fighting was underway.

“People have been observed fleeing in multiple directions, not knowing which way may be safest,” the agency said in a statement. It said the largest UN bakery in the city was forced to close, and that the fighting had blocked aid groups from accessing warehouses.

Maha Mahfouz, a mother of two, said she fled twice in the past 24 hours. She first rushed from her home in Gaza City to a relative’s house in another neighborhood. When that became dangerous, she fled Monday night to Shati, a decades-old refugee camp that has grown into an urban district where Israel has carried out repeated raids. She described vast destruction in the areas targeted in the latest raids. “The buildings were destroyed. The roads were destroyed. All has become rubble,” she said.

The Israeli military has said it had intelligence showing that militants from Hamas and the smaller Islamic Jihad group were regrouping in central Gaza City. Israel accuses Hamas and other militants of hiding among civilians. In Shijaiyah, a Gaza City neighborhood that has seen weeks of fighting, the military said it had destroyed 6 kilometers (3 miles) of Hamas tunnels.

Hamas has warned that the latest raids in Gaza City could lead to the collapse of negotiations for a cease-fire and hostagerelease deal.

Israel and Hamas had appeared to narrow the gaps in recent days, with the US, Egypt and Qatar mediating.

CIA Director William Burns met Tuesday with Egyptian President Abdel Fattah el-Sissi in Cairo to discuss the negotiations, el-Sissi’s office said. More talks were to be held Wednesday in Qatar, where Hamas maintains a political office. But obstacles remain, even after Hamas agreed to relent on its key demand that Israel commit to ending the war as part of any agreement. Hamas still wants mediators to guarantee that negotiations conclude with a permanent cease-fire.

Israel has rejected any deal that would force it to end the war with Hamas intact. Hamas on Monday accused Israeli Prime Minister Benjamin Netanyahu of “putting more obstacles in the way of negotiations,” including the operations in Gaza City.

Hamas’ cross-border raid on October 7 killed 1,200 people in southern Israel, most of them civilians, according to Israeli authorities. The militants took roughly 250 people hostage. About 120 are still in captivity, with about a third said to be dead.

Israel’s bombardment and offensives in Gaza have killed more than 38,200 people and wounded more than 88,000, according to the territory’s Health Ministry, which does not distinguish between combatants and civilians in its count. Magdy reported from Cairo.

New US envoy to Taiwan pledges to help self-ruled island with self-defense as threats from China loom

TAIPEI, Taiwan—The United States’ new top envoy to Taiwan promised Wednesday that Washington will help the selfruled island defend itself as China ramps up its military threats.

Raymond Greene, who assumed his new role as director of the American Institute in Taiwan on Monday, met with Taiwanese President Lai Ching-te.

“First of all, and the most important thing, the US will strongly support Taiwan’s self-defense capabilities,” Greene said. “We both have common and long-term interests in peace and stability over the Taiwan Strait.”

Lai said Taiwan will strive to maintain the status quo with Beijing, which claims the island democracy of 23 million people as its own territory, to be reclaimed by force if necessary.

Taiwan’s Defense Ministry also said Wednesday it detected 36 Chinese military jets, including J-16 fighters and H-6 bombers, flying south and southeast of the island and headed into the Western Pacific to carry out drills with China’s Shandong aircraft carrier.

The US, like most countries, does not recognize Taiwan as a country. But it’s the island’s main partner and is bound by US laws

to provide it with the means to defend itself. Less than a month ago, the US State Department approved the sale to Taiwan of missiles and drones for an estimated $360 million.

In April, the House of Representatives approved an $8 billion military aid package for Taiwan.

“Taiwan and the US are solid partners to each other who strive to maintain regional peace and stability,” Lai said Wednesday.

The Chinese government didn’t immediately comment on the meeting.

The American Institute in Taiwan functions as a de facto

embassy. Taipei also operates an Economic and Cultural Representative Office in the US and similar de facto embassies in other countries.

China has ramped up its military pressure against the island since Lai took office in May. Beijing sees Lai as a separatist and refuses to speak with him. In late June, Beijing threatened to hunt down and execute “hardcore” Taiwan independence supporters. In response, Taipei urged its citizens to avoid traveling to China and the semi-autonomous Chinese territories of Hong Kong and Macao. AP

Samsung Electronics workers announce ‘indefinite’ strike

By Hyung-Jin Kim The Associated Press

SEOUL, South Korea—Unionized workers at Samsung Electronics declared an indefinite strike Wednesday to pressure South Korea’s biggest company to accept their calls for higher pays and other benefits.

Thousands of members of the National Samsung Electronics Union launched a temporary, three-day strike on Monday. But the union said Wednesday that it was announcing an indefinite strike, accusing the management of being unwilling to negotiate. Samsung Electronics says there have been no disruptions to production.

“Samsung Electronics will

ensure no disruptions occur in the production lines,” a Samsung statement said. “The company remains committed to engaging in good faith negotiations with the union.”

However, in a statement posted on its website, the union said it has engaged in unspecified disruptions on the company’s production lines to get management to eventually come to the negotiating table if the strikes continue.

“We are confident of our victory,” the union statement said.

The union statement didn’t say how many of its members would join the extended strike. It earlier said that 6,540 of its union members had said they would participate in the earlier, threeday strike.

That would represent only a fraction of Samsung Electronics’ total workforce, estimated at about 267,860 globally. About 120,000 of them are in South Korea.

Earlier this year, union members and management held rounds of talks on the union’s demand for higher wages and better working conditions, but they failed to reach agreement. In June, some union members collectively used their annual leaves in a one-day walkout that observers said was the first labor strike at Samsung Electronics.

About 30,000 Samsung workers are reportedly affiliated with the National Samsung Electronics Union, the largest at the company, and some belong to other, smaller unions.

In 2020, Samsung chief Lee Jae-yong, then vice chairman of the company, said he would stop suppressin g employee attempts to organize unions, as he expressed remorse over his alleged involvement in a massive 2016 corruption scandal that removed the country’s president from office.

Activists had criticized the company’s union-busting practices for decades, though labor actions at other businesses and in other sectors of the society are common in South Korea. Thousands of South Korean medical interns and residents have been on strike since February, protesting a government plan to sharply increase medical school admissions.

PALESTINIANS mourn relatives killed in the Israeli bombardment of the Gaza Strip, at a hospital morgue in Deir al-Balah on Tuesday, July 9, 2024. AP/ABDEL KAREEM HANA

Las Vegas eyes record 5th consecutive day over 115 degrees as heat wave continues to sear US

By Ken Ritter & Christopher Weber The Associated Press

LAS VEGAS—Used to shrugging oﬀ the heat, Las Vegas residents are now eyeing the thermometer as the desert city is on track Wednesday to set a record for the most consecutive days over 115 degrees Fahrenheit (46.1°Celsius) amid a lingering hot spell that will continue scorching much of the US into the weekend.

On Tuesday, Las Vegas flirted again with the all-time temperature record of 120 F (48.8 ° C) reached on Sunday, but settled for a new daily mark of 119 F (48.3 ° C) that smashed the old one of 116 F (46.6 ° C) set for the date in 2021. Forecasters say the city will likely hit a record fifth straight day above 115 F (46.1 C) on Wednesday. Even by desert standards, the prolonged baking that Nevada’s largest city is experiencing is nearly unprecedented.

“This is the most extreme heat wave in the history of recordkeeping in Las Vegas since 1937,” said meteorologist John Adair, a veteran of three decades at the National Weather Service office in southern Nevada.

Tuesday’s high temperature tied the mark of four straight days above 115 ° F (46.1° C) set in July 2005. And Adair said the record could be extended through Friday.

Alyse Sobosan said this July has been the hottest in the 15 years she has lived in Las Vegas. A counselor at a charter school that’s on summer break, Sobosan said she doesn’t step outside during the day if she can help it, and waits until 9 p.m. or later to walk her dogs.

“It’s oppressively hot,” she said. “It’s like you can’t really live your life.”

It’s also dangerously hot, health officials have emphasized.

“Even people of average age who are seemingly healthy can suffer heat illness when it’s so hot it’s hard for your body to cool down,” said Alexis Brignola, an epidemiologist at the Southern Nevada Health District.

The searing heat wave gripping large parts of the US also led to record daily high temperatures in Oregon, where it is suspected to have caused six deaths, the state medical examiner’s office said

Zelenskyy says the world cannot wait until the US election in November to take action to repel Putin

By Matthew Lee, Ellen Knickmeyer & Eric Tucker

The Associated Press

ASHINGTON—Ukrainian President

WVolodymyr Zelenskyy said Tuesday that decisive action must be taken before the US presidential election in November to repel Russia’s offensive against his country, using an address on the sidelines of the NATO summit to press for greater support during a pivotal but tumultuous stretch in America’s political calendar.

“It’s time to step out of the shadows to make strong decisions to act and not wait for November or any other months to descend. We must be strong and uncompromising all together,” Zelenskyy said.

Speaking in Washington four months before an election beset by new uncertainty following President Joe Biden’s shaky debate performance, he aimed his message at Republicans, whose NATO-adverse leader looks to be in an improving position to win back the presidency.

The president of the United States, Zelenskyy added, must be “uncompromising in defending democracy, uncompromising against (Russian President Vladimir) Putin and his coterie.” Zelenskyy has proven to be an adept navigator of international relations in defense of his war-ravaged country, publicly cajoling and sometimes loudly complaining to get the military assistance it needs to defend itself against Russia.

This latest trip to Washington came against the backdrop of a fresh commitment of aid—Biden earlier Tuesday announced that dozens of air defense systems will be sent to Ukraine by NATO allies—but also ahead of an election that could yield a change in power. Zelenskyy said he hoped the race would not yield a policy overhaul.

The Ukrainian leader sought to minimize the potential fallout of a Donald Trump victory, who is a NATO skeptic and has criticized the Biden administration’s support

for Kyiv during Russia’s war in Ukraine. Zelenskyy spoke at the Reagan Institute, named after Republican icon Ronald Reagan, and his appeal for support was directed at an audience of GOP heavyweights that included Senate Minority Leader Mitch McConnell. Zelenskyy will meet with lawmakers on Capitol Hill on Wednesday.

“I hope that if the people of America will elect President Trump, I hope that his policy with Ukraine will not change,” Zelenskyy said in a question-and-answer session with Fox News host Bret Baier after his speech.

“I hope that the United States will never go out from NATO.”

Otherwise, he said, “the world will lose a lot of countries” that “count on America.”

Zelenskyy, who will have a separate meeting with Biden on Thursday, said he doesn’t know Trump well but had good meetings with him when he was president. He noted, however, that they did not go through the Russia-Ukraine war together, and only during a shared experience like that can one understand “if you can count on somebody or not.”

As president, Trump was impeached in late 2019 by the House of Representatives after pressuring Zelenskyy to announce an investigation into Biden and his son Hunter, while withholding $400 million in military aid to Ukraine. Biden at the time was mounting a campaign to run against Trump in the 2020 election. Trump was ultimately acquitted by the Senate.

Despite the fresh aid announced Tuesday and the warm embrace he received from the Republican-dominated audience at the Reagan Institute, Zelenskyy finds that his most coveted prize—membership in the military alliance—remains elusive. The European and North American countries making up NATO are in no hurry to admit Ukraine, especially while it is engaged in active hostilities with Russia that could drag them into a broader war.

AP writers Hanna Arhirova in Kyiv, Ukraine contributed to this report.

Tuesday. More than 161 million people around the US were under heat alerts Tuesday, especially in Western states.

Dozens of locations across the West tied or broke previous heat records over the weekend and are expected to keep doing so all week.

The heat was blamed for a motorcyclist’s death over the weekend in Death Valley National Park. At Death Valley on Tuesday, tourists queued for photos in front of a giant thermometer that was reading 120 ° F (48.9 ° C).

Simon Pell and Lisa Gregory from London left their air-conditioned RV to experience a midday blast of heat that would be unthinkable back home.

“I don’t need a thermometer to tell me that it’s hot,” Pell said. “You hear about it in stories and wildlife documentaries. But just for me, I wanted to experience what

it would feel like.... It’s an incredible experience.”

Death Valley is considered one of the most extreme environments in the world. The hottest temperature ever officially recorded on Earth was 134 F (56.67 C) in July 1913 in Death Valley, though some experts dispute that measurement and say the real record was 130 ° F (54.4 ° C), recorded there in July 2021.

Record highs for the date were also hit Tuesday in parts of Oregon and Washington, with Portland reaching 103 F (39.4 C) and Salem and Eugene hitting 105 F (40.5 C). Triple digit temperatures were also recorded in Idaho.

Phoenix, which has averaged the hottest temperature ever for the first eight days of July in records dating to 1885, tied the daily record Tuesday of 116 ° F (46.6) set in 1958.

The high Tuesday of 106 ° F (41.1° C) in Reno, Nevada, broke the daily record of 104 ° F (40 ° C) last tied in 2017 and extended to four days the longest streak ever of 105 ° F (40.5 ° C) or higher. Before this week, at an elevation of 4,500 feet (1,372 meters), the city had never been that hot for more than two consecutive days in records dating to 1888.

The US heat wave came as the global temperature in June was a record warm for the 13th straight month and marked the 12th straight month that the world was 1.5 degrees Celsius (2.7 degrees Fahrenheit) warmer than pre-industrial times, the European climate service Copernicus said. Most of this heat, trapped by human-caused climate change, is from long-term warming from greenhouse gases emitted by the burning of coal, oil and natural gas, scientists say.

In Las Vegas, hotels and casinos keep their visitors cool with massive AC units. But for homeless residents and others without access to safe environments, officials have set up emergency cooling centers at community centers across southern Nevada.

Firefighters in Henderson, Nevada, last week became the first in the region to deploy what city spokesperson Madeleine Skains called “polar pods” used to cool a person exhibiting symptoms of heat stroke or a related medical emergency.

Skains said four vehicles, including battalion chiefs in the city of more than 330,000 residents have the devices that are similar to units first put into use a month ago in Phoenix. They can be filled

with water and ice to immerse a medical patient in cold water on the way to a hospital.

Extreme heat and a longstanding drought in the West has also dried out vegetation that fuels wildfires.

A new blaze in Oregon, dubbed the Larch Creek Fire, quickly grew to more than 5 square miles (12 square kilometers) Tuesday evening as flames tore through grassland in Wasco County. Evacuations were ordered for remote homes about 15 miles (24 kilometers) south of The Dalles.

In California, firefighters were battling least 18 wildfires Tuesday, including a 42-square-mile (109-square-kilometer) blaze that prompted evacuation orders for about 200 residences in the mountains of Santa Barbara County. The Lake Fire was only 16% contained, and forecasters warned of a “volatile combination” of high heat, low humidity and northwest winds developing late in the day. Northeast of Los Angeles, the 2-square-mile (5-square-kilometer) Vista Fire chewed through trees in the San Bernardino National Forest and sent up a huge plume of smoke visible across the region. The National Weather Service said it was extending the excessive heat warnings across most of the Southwest US through Saturday morning.

“It’s not over yet,” the service in Reno said.

Weber reported from Los Angeles. AP journalists Anita Snow in Phoenix; Ty O’Neil in Death Valley, California; Rio Yamat in Las Vegas; and Scott Sonner and Gabe Stern in Reno, Nevada, contributed to this report.

Hundreds of new UK lawmakers are sworn in as Parliament returns after a dramatic election

LBy Jill Lawless The Associated Press

ONDON—Hundreds of newly elected lawmakers trooped excitedly into Parliament on Tuesday after the UK’s transformative election brought a Labour government to power.

The halls of the labyrinthine building echoed with excited chatter of the 650 members of the House of Commons—335 of them arriving for the first time. That compares to 140 new lawmakers after the last election in 2019.

The seat of British democracy took on a back-to-school feel, from the rows of lockers temporarily installed in wood-paneled corridors to the staff holding “Ask Me” signs ready to help bewildered newcomers.

The new House of Commons includes the largest number of women ever elected—263, some 40% of the total—and the most lawmakers of color, at 90.

The youngest new lawmaker is Labour’s Sam Carling, 22. He is one of 412 Labour legislators elected last week who will cram onto green benches on the government side of the House of Commons.

Opposite them will be a shrunken contingent of 121 Conservatives, a vastly increased number of Liberal Democrats, 72 strong, and a smattering of representatives from other parties including the environmentalist Green Party and the anti-immigration Reform UK.

Even as the newcomers arrived, lawmakers who lost their seats

last week were carting away the contents of their offices in boxes and suitcases.

First job: electing a speaker

THE first task for lawmakers was electing a speaker to oversee the business of the House of Commons and try to keep the often unruly assembly in line.

The speaker is chosen from the ranks of lawmakers and sets his or her party affiliation aside while they fill the impartial role.

Lindsay Hoyle—originally elected for Labour to the speaker’s post in 2019—was reelected unopposed. He promised lawmakers he would continue to be “fair, impartial and independent.”

In keeping with tradition, the speaker feigned reluctance and was dragged to the speaker’ chair by colleagues—a custom dating to the days when speakers could be sentenced to death

if they displeased the monarch.

After tributes from party leaders including Prime Minister Keir Starmer and Conservative leader Rishi Sunak, the speaker-elect was taken to the House of Lords by an official known as Black Rod to receive Royal Approbation, the formal approval of King Charles III.

Starmer said all lawmakers had a responsibility “to put an end to a politics that has too often seemed self-serving and self-obsessed, and to replace that politics of performance with the politics of service.”

Sunak, fresh off the Conservatives’ crushing election defeat, agreed that “in our politics, we can argue vigorously, as the prime minister and I did over the past six weeks, but still respect each other.”

Swearing in WITH a speaker in place, lawmakers were sworn in one by one,

taking an oath of allegiance to the king and “his heirs and successors.” Members can swear on a religious text of their choice or make a non-religious affirmation. They must take the oath in English first, and can repeat it in Welsh, Ulster Scots, Irish Gaelic, Scottish Gaelic or Cornish.

The longest-serving lawmakers—Conservative Edward Leigh and Labour’s Diane Abbott, known as the father and mother of the House—were sworn in first, followed by the prime minister and the Cabinet, senior members of the official opposition and then remaining lawmakers in order of their length of service. There are also seven lawmakers from Irish nationalist party Sinn Fein, who refuse to swear loyalty to the Crown and do not take their seats to protest UK control over Northern Ireland.

Down to business AFTER all MPs are sworn in—a task expected to take several days—the House of Commons will rise until July 17, when a new session will formally start with the State Opening of

The

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More Power to invest ₧3.5B in Negros Occidental, Bohol

By Lenie Lectura @llectura

ILOILO

City—More Electric Power Corp. (More Power) is investing as much as P3.5 billion to improve the power distribution service in some cities in Negros Occidental and Bohol.

More Power President Roel Castro said P1 billion will be earmarked for Bohol Light Company Inc. and as much as P2.5 billion will be allotted for Central Negros Electric Cooperative Inc. (Ceneco).

“For Bohol, probably P1 billion would be doable in the next four years because Bohol Light is not as big as Ceneco. It’s not also as big as Iloilo.

I was looking at the system, it’s not that bad but it needs improvement.

I’m looking at about a billion.”

The P1-billion investment will be

utilized to purchase an automatic circuit recloser (ACR), which would increase the stability of the power system, and improve Bohol Light’s customer service.

“With ACR, 98 to 99 percent of outages will be averted. So that one will immediately bring improvement. Number two is the helpline. It’s a bit not responsive,” said Castro.

Primelectric Holdings Inc., a subsidiary of More Power, is buying the shares held by SPC Power Corp. in Bohol Light, the power distribution

utility in Tagbilaran City.

Meanwhile, Ceneco distributes electricity in the cities of Bacolod, Talisay, Silay, and Bago, and some towns in Negros Occidental. Ceneco formed a joint venture with Primelectric. The joint venture is called Negros Electric and Power Corp. (NEPC), which will replace Ceneco.

“The initial investment to buy the distribution system was about P2 billion, and then we are readying another P2.1 to P2.5 billion for the next five years for the improvement,” said Castro.

NEPC’s franchise under House Bill 9805 has been submitted to the Office of the President for signing into law.

“The bill is now in Malacañang. I think if the President doesn’t sign it, it will lapse into law by the end of July. After that, we will apply for the CPCN [Certificate of Public Convenience and Necessity] already.

I don’t know how long the ERC [Energy Regulatory Commission] will take to approve the CPCN but we are ready now. We made sure that the systems are ready, the people are ready, the forms, the permits, the logistics, so we are ready,” Castro said.

He said NEPC is “financially and technically capable” to providing improvements in Bacolod and Central Negros, drawing from their successful experience in Iloilo. More Power is the electric distribution utility in Iloilo City.

Currently, Ceneco takes 90 minutes to two hours to respond, while More Power in Iloilo achieves a response time of 15 minutes.

“There’s a lot of complaints, and over and above that, their system loss is already beyond the cap. And when the systems loss is above the cap, it means that it is being passed on to the consumers, and Ceneco is already losing P20 million to P30 million a month.”

‘TPLEX extension to spur Luzon growth’

By Samuel P. Medenilla

@sam_medenilla

WITH the P23-billion extension of the TarlacPangasinan-La Union Expressway (TPLEX) underway, President Ferdinand R. Marcos Jr. is confident the project will usher in “a new wave of economic development” in Luzon.

“Remembering how the TPLEX became a driver of economic growth in Central and Northern Luzon when it was completed, we expect this ex-

tension to generate an even greater flurry of activity in Luzon,” the chief executive said during the presentation of the signed Concession Agreement (CA) for extension project in Malacañang last Wednesday.

The project is a 60-kilometer, four-lane toll road, which will extend the present terminus of the TPLEX from Rosario to San Juan in La Union. Upon its completion, it will reduce the travel time to just 40 minutes from the current 90 minutes.

Marcos said the extension will bring in more tourists to Northern

Luzon, while also serving as an important trade corridor.

“So, we also expect [it] to forge value-adding partnerships among agriculture, industry, and tourism enterprises in the area as it links vital regional corridors and hubs,” he said.

“This will, of course, generate a significant number of decent jobs and more opportunities for all.”

The TPLEX extension is financed through a public-private partnership between the Department of Public Works and Highways and San Miguel Holdings Corp. (SMHC) with a proj-

ect concessionaire, the SMC TPLEX Extension Infrastructure Corp. Marcos thanked SMHC for supporting the project and urged it to ensure TPLEX Extension Segment 1 will be completed before the end of his term in 2028.

Apart from TPLEX, the Southern Tagalog Arterial Road, South Luzon Expressway, the Skyway System, and the NAIA Expressway, Boracay Airport, the MRT-7 rail and road project, and the Bulacan Bulk Water Supply Project are also part of San Miguel’s infrastructure portfolio.

Vanke warns of $1.2-B loss on China’s housing slump

CHINA Vanke Co. warned of hefty losses in the first half, as the country’s property downturn took a toll on the closely watched developer that’s trying to secure cash to pay off debts.

State-backed Vanke expects to post a first-half loss of 7 billion yuan to 9 billion yuan ($962 million to $1.2 billion), it said in a filing late Tuesday. The projected loss signals a sharp downturn from the first quarter, when it lost 362 million yuan.

The homebuilder resorted to price discounts to reduce inventory and boost cash flow, squeezing profit margins. Investment in some projects has been “over-optimistic” and resulted in high land acquisition costs, it said.

At the same time, Vanke said it has made “repayment arrangements” on onshore bonds due in the second half of this year, and has no offshore notes maturing in the period.

Vanke’s update is the latest sign that China’s years-long property crisis continues unabated, as the government’s supportive policies have yet to materially reinvigorate homebuyer demand. The company, once considered one of the more sound players in the industry, has been raising funds and looking to sell assets to calm investor concern over liquidity stress.

The developer hasn’t reported a first-half loss since at least 2003, according to data compiled by Bloomberg. In the first half of 2023, it had a profit of 9.87 billion yuan.

“The company deeply apologizes for the performance loss,” it said. Vanke’s Hong Kong-listed shares fell 1.8 percent on Wednesday, bring-

‘Swiss challenge for Laguindingan airport ends in Aug’

By Lorenz S. Marasigan @lorenzmarasigan

THE Department of Transportation (DOTr) is set to finalize the competitive challenge for the Laguindingan Airport deal next month, according to a Cabinet official.

Transportation Secretary Jaime Bautista said the agency is now “finalizing the privatization” of the airport, expecting to complete the Swiss challenge for the deal as early as August 12.

“We are finalizing the privatization of the Laguindingan airport.

The Swiss challenge will be I think August 12 or 13,” Bautista said in a recent interview.

Aboitiz InfraCapital submitted the unsolicited proposal to the DOTr and the Civil Aviation Authority of the Philippines (Caap) during the previous administration.

In 2023, it secured the approval of the National Economic and Development Authority (Neda) Board, which also approved the negotiated parameters, terms, and conditions of the project in January this year.

ing this year’s decline to 39 percent. Its dollar bond due 2027 slid 0.9 cent to 61.9 cents, and its note due 2029 dropped 0.6 cent to 54.7 cents. The earnings warning was significantly worse than expected, Jefferies Hong Kong Ltd. analysts led by Calvin Leung wrote in a note. “We believe the cash flow mismatch could widen, in turn lifting reliance on asset disposal and new financing.”

Vanke said many of its projects were developed on land acquired before 2022 that had relatively high purchase costs. Because they were sold during the subsequent market downturn, sales and gross profit margins were lower than expectations, shrinking profits.

Other developers that bought land before the property slump intensified—such as Longfor Group Holdings Ltd. and Greentown China Holdings Ltd.—may also issue profit warnings, according to Bloomberg

Intelligence analysts Andrew Chan and Daniel Fan. “Major Chinese developers could write down their inventory as falling new-home prices are unlikely to turn around in the near term,” they wrote in a note.

Vanke said a package of plans was formed during the first half of this year for business reformation and risk mitigation. It also sought to slim down and achieved “positive progress.” Also, 74,000 homes were delivered and Vanke “ensured repayment of open market debts on schedule.”

On the bright side, executives told some analysts Tuesday that Vanke has reduced some of its short-term debt, according to minutes of the meeting published online by the builder. Debt refinancing and new financing has totaled 60 billion yuan this year as over 50 billion yuan of debt has been paid. In a separate statement on Tues-

day, Vanke said it has a combined 4.3 billion yuan of onshore bonds due in the second half of this year and has made “repayment arrangements.” It added 10.5 billion yuan of offshore bonds were repaid in the first half and that no such notes are due the rest of this year.

Vanke, whose major shareholder is a state-owned firm in Shenzhen, is one of the few distressed Chinese developers that have yet to default.

Others such as Country Garden Holdings Co. and Shimao Group Holdings Ltd. face winding-up hearings in Hong Kong courts, while former giant China Evergrande Group has been ordered to liquidate.

Vanke continues to face headwinds as its home sales growth stalled in June. Its month-on-month contracted sales rose 7.9 percent, much slower than the average 36 percent increase at the 100 biggest real estate companies in China.

The builder’s June sales reached a breakeven level of 25 billion yuan, Jefferies estimated, but part of it was driven by front-loaded purchases following the easing of home-buying rules in May. With diminishing room for cities to further relax property measures, analysts including Leung remain skeptical on the sustainability of sales into the second half.

The preliminary interim loss is likely to extend into a full-year one, according to JPMorgan Chase & Co. property analyst Karl Chan.

“As Vanke’s priority is to prevent a bond default, we think the margin squeeze will continue as Vanke would likely have to prioritize cash flows over profitability,” Chan said. Bloomberg News

This allowed the government to start the Swiss challenge in February.

A Swiss challenge allows other

interested parties to submit their bids for the same project. However, the original proponent will have the right to match the best offer and eventually secure the deal.

According to the website of Aboitiz InfraCapital, the proposed P42.7-billion project involves the augmentation of the capacity of the Laguindingan Airport, including the renovation and expansion of existing facilities. It also covers the passenger terminal building, installation of required equipment, and enhancement and development of airside facilities for a concession period of 35 years. Laguindingan is considered the main gateway to Northern Mindanao. The expansion of the airport is expected to benefit Misamis Oriental, Misamis Occidental, Lanao del Norte, Bukidnon, and Camiguin. If no other parties formally challenge Aboitiz InfraCapital’s proposal by the end of the Swiss challenge process, the contract can be awarded to the original proponent within 90 days.

Aboitiz InfraCapital currently operates the Mactan-Cebu International Airport (MCIA), after acquiring shares in GMR-Megawide Cebu Airport Corp.

US diaper makers warn EU of shortages under law to save forests

US paper makers are warning the European Union that a new law requiring them to trace timber to its origins risks disrupting $3.5 billion of trade and raising prices for diapers, sanitary pads and other hygiene products.

It will be impossible to comply with the pending EU Deforestation Regulation (EUDR) because pulp supply chains are too diffuse to track all trees, and there’s often a two-year lag between the time they’re cut down and when they’re turned into fiber, according to the American Forest and Paper Association. The US industry is a major exporter of “fluff pulp,” an absorbent material used by the likes of Procter & Gamble Co. and Kimberly-Clark Corp. to make personal products. American suppliers meet about 60 percent of the EU’s needs, so any interruption would reverberate throughout the 27-nation bloc.

“The EUDR as is currently written will raise the costs significantly for US producers, and it will translate into inflationary pressures in the EU,” said Mark Pitts, executive director at the paper association. “Is this really necessary?”

His group wants the law’s implementation, scheduled for year’s end, delayed while it pushes for the sector to be categorized as a low risk to global deforestation. That would ex-

empt producers from the traceability requirement.

US government officials also asked for a postponement, saying in a letter to the EU that the rule posed “critical challenges” to domestic producers. The EU aims to slash the 10 percent of global deforestation — and associated loss of biodiversity— linked to its consumption of commodities such as timber, beef, coffee and cocoa. The pending law requires every log, cow and bean entering the region to be traced to their origins, or the bloc will levy hefty penalties.

“The EUDR mandates that companies document the geolocation of all relevant plots of land for commodities traded in bulk,” said Adalbert Jahnz, a spokesman for the European Commission. “This requirement is not about tracing each individual wood fiber to a single plot.”

Pampers maker Procter & Gamble and Huggies manufacturer Kimberly-Clark are the top suppliers of diapers in Europe, while P&G is the biggest supplier of menstrual care products, according to data from Euromonitor International.

A spokesperson for P&G said the company complies with applicable laws and regulations, and it will do so with the EUDR. It also expects suppliers to do the same through its sourcing guidelines. Bloomberg News

Banking&Finance

Credit-card use higher due to Gen-Zs–TUPH

THE country’s largest private credit information bureau believes that more Filipinos belonging to the “Generation Z” (Gen-Z)—those born between 1995 to 2010—participate in the credit market; likely greater as they reach adulthood.

According to TransUnion Information Solutions Inc. (TUPH), the younger generation emerged as a significant contributor to the increase in credit card originations.

The number of Gen Zs with access to credit more than doubled over the past five years from a 9-percent share in the overall originations in 2019 to 22 percent in 2023. Filipino Gen Zs also made up a third (33 percent) of all New-to-Card borrowers in 2023 or those originating their first-ever credit card on file, according to TUPH, citing data it collected.

“The credit card market in the Philippines will continue to experience growth as demand remains high, especially amongst younger consumers. Data from TransUnion clearly shows that the younger generation of Filipinos, particularly Gen Z, are quickly emerging as a cornerstone for future market growth,” Research and Consulting for Asia Pacific Principal Weihan Sun was quoted in a statement as saying.

Almost all, or 98 percent, of Filipino Gen Zs see the importance of access to credit and lending products

in achieving their financial goals, according to TUPH, citing its “Philippines Consumer Pulse Study” in the first quarter of 2024. Gen Zs were also found to be some of the most frequent credit monitors in the country who consistently keep an eye on their credit status to find the best credit offers accessible to them.

“As more Gen Z consumers reach adulthood, we expect their share of the credit market to continue increasing,” Sun added. TUPH noted this trend signals an opportunity for lenders to tap into the growing market of New-to-Card consumers in the country, which could also be ascribed to value-added services including reward points, installment payment facilities and discounts associated with these cards.

However, the analysis also revealed a gap between male and female borrowers and that more effort is needed for financial inclusion for women. Its recent quarterly findings showed female borrowers accounted for 40 percent while males comprised 60 percent—a ratio consistent over the past five years.

Sun said lenders must consider offerings tailored to female consumers to foster a financially inclusive credit market, which would also help them further capitalize on an expanding market’s growth potential.

Reine Juvierre Alberto

Asialink gets ₧125M credit link from Korean bank

NON-BANK financing company Asialink Finance Corp. announced last Wednesday it has secured a P125-million credit link from Korean bank KEB Hana Bank Global to bolster its lending resources to small-scale businesses in the Philippines.

Asialink said This is the company’s first financial tie-up with a Korean bank, read a statement the firm issued on July 10.

“This breakthrough collaboration with a South Korean bank marks a vital step towards strengthening further Asialink’s diversification of funding sources for re-lending to the largely unbanked business sector,” Asialink President and Chief Operation Officer Eillen Mangubat was quoted in the statement as saying. The credit agreement between Asialink and Hana Bank is a “testament to our commitment to enhancing Filipino lives through increased funding and sustainable growth,” according to KEB Hana Bank Manila Site General Manager Francis Koo. According to Asialink, four Taiwanese financial institutions consistently provide the com-

Investors

DISTRESSED investors see one of the best opportunities in a generation to buy troubled US real estate assets as the commercial property crash continues to roil the market.

Private equity firms are already positioning to take advantage. About 64 percent of the $400 billion of dry powder that the industry has set aside for property investment is targeted at North America, the highest share in two decades, according to data compiled by Preqin.

The fear elsewhere is that a strong US bias will mean other parts of the world won’t draw the same demand, delaying the work out of troubled loans and properties there.

PE firms want to take advantage of deep American discounts after office values fell by almost a quarter last year, more than in Europe, following the pandemic work from home shift.

Almost $1 trillion of debt linked to

UN-backed Fund hosting seen opportunity, challenge for PHL

By Reine Juvierre Alberto

AFTER securing its bid to host the Loss and Damage Fund (LDF) Board, the Philippines will have access to climate finance and investments to future-proof the economy and ensure sustainable growth, according to Finance Secretary Ralph G. Recto.

However, the coordinator of the nonprofit Asian Peoples’ Movement on Debt and Development also sees the LDF hosting as posting a challenge to raise cash and remain independent from the World Bank, the LDF’s secretariat’s host for the next four years.

“It’s unacceptable that the Fund has received only $661.39 million in pledges when loss and damage will cost at least from $447 billion to $895 billion a year by 2030,” Lidy Nacpil was quoted in a statement her organization issued late Tuesday.

The LDF of the United Nations Climate Change Commission (UNCCC) is a global financial mechanism created to assist countries’ response and recovery from losses and damages caused by climate change. The Philippines garnered a seat on the Board in December 2023.

According to the Department of

pany with funding. The firm did not cite figures.

The Korean bank’s credit line followed after Malaysian private equity firm Creador Sdn Bhd invested P4 billion in Asialink to expand its loan portfolio. The fund also boosted capital to hit P12 billion, Asialink CEO Robert B. Jordan Jr. said.

Asialink is targeting to disburse a total of P24 billion. At the same time, its two other companies, Global Cebuana Finance Inc. and South Asialink Finance Corp., aim to disburse P13 billion and P8 billion, respectively, in loans to SMEs.

However, Jordan said this goal is contingent on the ability of Global Cebuana and South Asialing to obtain funding.

Asialink also aims to go public no later than 2028 with a capitalization of P30 billion, according to Jordan Jr. He added 20 percent of this will be floated in the market.

Jordan said they aim to double Asialink’s customer base of 100,000 micro-scale, small-sized and medium-sized enterprises (MSMEs) next year.

Juvierre Alberto

Reine

commercial real estate will mature this year in the US, according to the Mortgage Bankers Association, and rising defaults as borrowers fail to repay will create more options for buyers of distressed assets.

“Compared with the Savings & Loans crisis and 2008, we’re still in the first or second innings” when it comes to troubled assets, said Rebel Cole, a finance professor at Florida Atlantic University who also advises Oaktree Capital Management. “There’s a tsunami coming and the waters are pulling out from the beach.”

John Brady, global head of real estate at Oaktree, is similarly blunt about what’s ahead: “We could be on the precipice of one of the most significant real estate distressed investment cycles of the last 40 years,” he wrote in a recent note on the US.

“Few asset classes are as unloved as commercial real estate and thus we

Finance (DOF), the fund’s initial capitalization reached $726 million, which is expected to help lowincome developing countries recover the damage from natural disasters caused by climate change.

“It’s particularly shameful that the United States has pledged only $17.5 million when they’re the largest historical emitter of greenhouse gasses and therefore most responsible for the climate crisis,” Nacpil said. “The Philippines should join the rest of the Global South in demanding trillions, not millions, in climate finance from the developed countries who’ve pushed us to the brink of climate chaos.”

Commitment, actions

AS the host of the LDF Board, the Philippines will be instrumental in attracting financial support from developed countries and development

partners to contribute to efforts in averting, minimizing and addressing losses and damages.

According to Recto, the support by President Ferdinand R. Marcos Jr. to the country’s bid in the LDF helped the Philippines clinch its selection.

The Philippines was selected over Antigua and Barbuda, Armenia, The Bahamas, Barbados, Eswatini, Togo and Kenya by the 26-member LDF Board in its second board meeting in Songdo, South Korea on July 9.

The DOF led the technical working group (TWG) interagency team together with other departments and the Climate Change Commission.

“We were chosen because of our strong commitment and concrete climate actions on the ground, and we thank the President for his steadfast support and dedication in making this happen,” Recto said.

“Hosting the LDF Board reinforces our dedication to inclusivity and our leadership role in ensuring that the voices of those most affected by climate change shape the future of international climate policies,” Marcos Jr. said in a social media post last Tuesday (See: https://businessmirror.com.ph/2024/07/09/ phl-elected-host-of-the-board-ofun-climate-change-bodys-726-mloss-and-damage-fund/)

Through the Philippines’s participation in the LDF, countries from all over the world can also collaborate with the national government in tackling climate-related challenges, according to the DOF.

Moreover, the LDF will also enable

the Philippines to highlight its initiatives, reforms, science-based innovations on adaptation and mitigation actions as well as disaster risk management aligned with its national plans and strategies.

‘Stand firm’ ACCORDING to Nacpil’s group, climate justice movements in the Global South are pushing for the Fund’s independence from the World Bank, citing the global lender’s “history of financing fossil fuel projects, supplying billions in trade finance to oil and gas projects as recently as 2022 and preference for loans with conditions.”

“The World Bank, after all, is a bank whose governance and operations is dominated by the governments of developed countries. This makes it unfit to run a Fund whose primary financial instrument should be grants, not loans, and whose mission is to serve the self-determined needs of developing countries,” says Nacpil.

“The Philippines must stand firm for a Loss and Damage Fund that is democratic and independent of the World Bank. As interim host, the World Bank should not compromise the integrity of the Fund’s operations and decision-making,” Nacpil said. To ensure this, the participation of civil society organizations at the Fund’s board meetings is crucial. “We call on the Board to encourage and facilitate a mechanism that ensures the active and meaningful engagement of civil society organizations in all Loss and Damage Fund processes and decisions.”

Planbank named ‘Most Durable Rural Bank’ by RBAP

PLANBANK (Rural Bank of Canlubang Planters Inc.) was honored as one of the “Most Durable Rural Banks” in the Philippines at the Rural Bankers Association of the Philippines (RBAP) Conference, held at the SMX Convention Center in Bacolod City, Negros Occidental, on June 4 to June 5, 2024.

The award was presented by RBAP President Anacleta D. Aboyme and Rural Bankers Research and Development Foundation Inc. (RBRDFI) Chairman Mary Ann E.M. TupasiSaddul. Accepting the award were Planbank’s Executive Vice President, Carollyn Hilbero, and Head of Branch Banking Group and Sales, Seednee Alcasabas.

This recognition underscores Planbank’s steadfast commitment to delivering exceptional banking services and meeting the financial needs of its communities.

“We are honored to receive this award and extend our heartfelt gratitude to the Rural Bankers Association of the Philippines and our loyal

believe there are few better places to find exceptional bargains.”

That focus means other regions could be left with bottom feeders — so called because of the low offers they typically make—as the main bidders. That risks dragging values in Europe and Asia down further, or leaving some markets stuck in stasis as sellers and lenders refuse to cave to super-lowball bids.

The strong North American economy, deeper markets and currency strength may contribute to “a delayed market recovery” outside the region, said Omar Eltorai, research director at data provider Altus Group.

The opportunity in the US is being driven by lenders pulling away from commercial real estate after borrowing costs rose and values plunged. Asset manager PGIM estimates a gap of almost $150 billion between the volume of loans coming due and new credit availability this year.

clients for their trust and support.

At Planbank, ‘Your success is our success’ is not just our tagline—it’s our commitment to you,” Planbank Executive Vice President Carollyn

“When you start to get into the cycle, the big market is where people find the opportunities,” John Graham, chief executive officer at Canada Pension Plan Investment Board, said in an interview. For everything from private equity to private credit and commercial real estate “the US is the biggest and the deepest market.”

Smaller lenders look particularly vulnerable because of their real estate exposure, and there’s already been turmoil in the sector. New York Community Bancorp had to take a capital injection of more than $1 billion earlier this year after its financial challenges mounted. More regional bank failures are likely because of their property debt, according to Pimco.

Based on Oaktree analysis, the number of US banks at risk would exceed levels seen in the 2008 financial crisis levels if CRE values fell by only 20 percent from their peak. Of-

Planbank is the second oldest rural bank in the Philippines. It was founded on November 24, 1952, in Calamba City, Laguna, by a coopera-

fice values there fell 23 percent last year, according to the IMF.

Barry Sternlicht, chairman of real estate investor Starwood Capital Group, has also indicated that he sees more problems ahead for lenders. With regional banks, “you wonder what’s going on, like how could they not be experiencing larger losses, certainly in their office portfolios,” he said on an earnings call in May.

Starwood also hasn’t been immune to the troubles. Its real estate income trust tightened limits on investors’ ability to pull money from the vehicle to preserve liquidity and stave off asset sales.

Shrinking pool WHILE the US looks attractive to private equity buyers, the overall pool of PE capital for CRE has shrunk. That will throw up some problems for credit investors, for example. The amount of money set aside

tive of sugar planters from Laguna, Cavite, and Batangas, The bank was licensed to operate by the Central Bank of the Philippines (now Bangko Sentral ng Pilipinas) on January 25, 1953. Planbank has a rich history of dedication to the agricultural community and has consistently supported farmers, individuals, and SMEs.

In October 2013, Ambassador Antonio L. Cabangon Chua acquired Planbank, integrating it into the ALC Group of Companies—a diverse conglomerate spanning media, car dealerships, pawnshops, restaurants, banking, insurance, pre-need, healthcare, memorial care, hospitality, security services, printing and real estate. The ALC Group is currently chaired by D. Edgard A. Cabangon.

Today, Planbank has 13 branches across Laguna, Bulacan, and Batangas. As one of the largest rural banks in Laguna, Planbank remains committed to enhancing the economic well-being of its clients and the communities it serves.

for real estate debt strategies globally by the firms shrank by 26 percent to $56.1 billion through May from the end of 2021, Preqin data show. That could, for example, limit buyer interest in non-performing CRE loans from Korea to China as loans sour.

“Dry powder is declining,” said Charles McGrath, an associate vice president at Preqin. Higher borrowing costs mean private equity players are “seeing a sharp decline in fund raising and transactions.” One of the key deterrents for investors in Europe are doubts about the robustness of valuations of real estate and loans. They “may not always provide an accurate reflection of the true worth of the assets, especially in the light of changing market conditions,” the European Insurance and Occupational Pensions Authority wrote in a June report.

Hilbero said.

THI June 5, 2024, photo shows Planbank Executive Vice President Carollyn Hilbero (second from left) and Head of Branch Banking Group and Sales Seednee Alcasabas (second from right) accept the award from RBAP President Anacleta D. Aboyme (leftmost) and Rural Bankers Research and Development Foundation Inc. Chairman Mary Ann E.M. Tupasi-Saddul (rightmost). CREDIT: PLANBANK

Editor: Anne Ruth Dela Cruz

Parents’ group calls on govt agencies not to accept donations from tobacco industry

By Claudeth Mocon-Ciriaco

SHOULD the Department of Social Welfare and Development (DSWD) accept donations from individuals and businesses linked to the tobacco industry?

It’s a big “no” for the Parents Against Vape (PAV) group.

However, a recent legal opinion issued by the Department of Justice (DOJ) says otherwise.

“This decision poses significant risks to the health and well-being of our children and youth. Our primary concern is the impact of this decision on impressionable young minds,” Rebie Relator, president of PAV said.

Relator stressed that allowing the DSWD to accept donations from the tobacco industry sends a “misleading message to our children, suggesting that the tobacco industry is a partner in healthcare and development.”

Overlooks key provisions

FROM a legal standpoint, PAV said the DOJ’s opinion overlooks key provisions and the broader context of

existing laws and regulations. One of them is The Joint Memorandum Circular (JMC) No. 2010-01 of the Civil Service Commission and the Department of Health, particularly Section 3.3, which explicitly prohibits government officials and employees from soliciting or accepting gifts, favors, or donations from entities in the tobacco industry.

“This prohibition is aligned with the Code of Conduct and Ethical Standards for Public Officials and Employees, which aims to prevent conflicts of interest and maintain the integrity of public service.”

“Moreover, the acceptance of donations from the tobacco industry contravenes commitments under the World Health Organization Framework Convention on Tobacco Control [WHO FCTC], which seeks to protect public health policies from commercial and other vested inter-

ests of the tobacco industry. Article 5.3 of the WHO FCTC states that parties shall act to protect public health policies from the interests of the tobacco industry, a principle that should guide all national policies and regulations,” the PAV official explained.

In light of these concerns, PAV called on the DSWD to reject donations from the tobacco industry.

Protect future generations

INSTEAD, DSWD should seek alternative sources of funding that align with the nation's commitment to public health and the protection of our future generations.

PAV described it as a dangerous irony, given that tobacco use is a leading cause of seven out of the top ten non-communicable diseases in the Philippines.

By accepting these donations,

Drinking alcohol is a threat to public health–DOH chief

STRESSING that drinking alcohol is a threat to public health in the Philippines, Health Secretary Teodoro Herbosa said the Department of Health (DOH) continues to advocate evidence-based policies to reduce alcohol-related harm and promote public health. These policies include implementing public health warning labels, increasing the price of alcohol including excise taxes, strengthening restrictions on availability, and enforcing a comprehensive ban on alcohol marketing.

The DOH is also alarmed at the recent data from the Global Burden of Disease Health Metrics which indicated that risks and health impacts of alcohol consumption was found

NTU Singapore scientists develop ‘band-aid’ that measures glucose levels in sweat

SCIENTISTS from Nanyang Technological University, Singapore (NTU Singapore) have developed a “band-aid” or plaster that measures body “biomarkers” that can indicate health or disease through sweat, paving the way for a new non-invasive and effective way for patients to monitor their health.

Human sweat contains biomarkers such as glucose, lactate and urea that indicate various health conditions and can be collected in a non-invasive and painless manner, making it ideal for daily monitoring, said the team of NTU researchers at the School of Electrical and Electronic Engineering (EEE).

Diabetic patients typically use an invasive finger prick test to selfmonitor blood glucose levels. Patients have to prick their fingers to collect a small drop of blood on a strip before inserting it into a portable glucose meter for a reading. An alternative is sensor-based monitoring devices, which are expensive and rigid and must be attached to the patient’s skin over prolonged periods. By encapsulating a microlaser in liquid crystal droplets and embedding the liquid within a soft hydrogel film, the NTU team created a compact and flexible light-based sensing device, like a plaster which can provide highly accurate biomarker readings within minutes. Nanyang Assistant Professor Chen Yu-Cheng at the School of EEE and Director of the Centre for Biodevices and Bioinformatics at NTU said, “Our innovation represents a non-invasive, quick and effective way for diabetic patients to monitor their health. By combining a microlaser with a soft hydrogel film, we have demonstrated the feasibility of a wearable laser to provide a more pleasant health monitoring experience for patients.”

to be a significant risk factor in over 27,000 deaths nationwide.

“Drinking alcohol is a threat to public health in the Philippines. We must implement evidence-based policies to mitigate these risks. The data are clear. There is no safe level of alcohol consumption,” Herbosa said.

Seeking to address the ills of alcohol consumption in the Philippines, the DOH on Monday joined the Sin Tax Coalition in a forum dubbed “Alcohol Tax: Itaas” in support of higher alcohol taxes in Quezon City. Findings from the DOH's 2023 Health Promotion and Literacy Longitudinal Study revealed that a significant portion of Filipino adults perceive moderate alcohol consump-

tion as harmless or even beneficial to health. This perception contrasts with the evidence reaffirmed by the World Health Organization (WHO) earlier this year which emphasized that no level of alcohol consumption is without risk.

Multifaceted eﬀects

THE effects of alcohol consumption are multifaceted, as a study published in 2022 in the journal Acta Medica Philippina by (now Health Secretary) Herbosa, and Lu cited data from the Metro Manila Accident Recording and Analysis System (MMARAS) of the Metropolitan Manila Development Authority (MMDA) from 2005 to 2020.

It was determined that in Metro

Manila, alcohol intoxication increases the risk of a driver’s death and injury, where 12,000 road users die annually due to road crashes. Almost one-third of these deaths are alcoholrelated crashes.

Moreover, the DOH reminds the public to contact the National Center for Mental Health (NCMH) Crisis Hotline 1553 if anyone is experiencing alcohol addiction and is uncertain about where to find support.

“We must act now. By educating the public, enforcing stricter regulations, and providing support for those struggling with alcohol addiction, we can create a healthier future towards a Bagong Pilipinas kung saan Bawat Buhay Mahalaga,” Herbosa concluded. Claudeth Mocon-Ciriaco

Every Juan urged to unite for PPAN this Nutrition Month

TIMED to coincide with the 50th year celebration of National Nutrition Month, the Nutrition National Council (NNC) and UNICEF encouraged the public to support the Philippine Plan of Action for Nutrition (PPAN) 2023 to 2028 to transform children’s nutrition, fight stunting, and reverse the tide of childhood overweight and obesity.

Data shows that 26 percent of children below five years are affected by stunting, which can lead to poor cognition and academic performance, and can negatively impact outcomes later in life such as low wages and lost productivity.

Since 2023, it has been reported that the number of overweight and obese children has almost tripled and is now classified as “high” based on global standards.

The lack of micronutrients such as iron, iodine and vitamin A has its toll on pregnant and lactating women, and children. Families or parents are struggling to provide nutritious and diverse foods that kids require to reach their full potential.

In fact, the Philippines is among the countries that account for 65 percent of the total number of children living in severe child food poverty or children consuming only two of eight defined food groups, according to a UNICEF study.

More work to do STAKEHOLDERS like the national and local governments, nongovernment organizations, business, civil society and communities have agreed to the PPAN, which charts the path until 2028.

Amid their unification, however, more needs to be done to realize substantive improvements in the

so-called triple burden of malnutrition. This is in line with the UN Sustainable Development Goals, particularly in ending hunger and eliminating all forms of malnutrition and the Philippine Development Plan on ensuring food security and nutrition.

“As we celebrate the 50th Nutrition Month, we call on all sectors of society to support the Philippine Plan of Action for Nutrition come alive in each and every barangay. We encourage local chief executives, and other partners to implement local nutrition action plans that reflect this vision,” said Assistant Secretary Dr. Azucena Dayanghirang, executive director IV of the NNC. “In this Nutrition Month, we are addressing the low awareness of the PPAN. NNC’s survey showed that about 40 percent of respondents were aware of the PPAN.”

For UNICEF Philippines Representative Oyunsaikhan Dendevnorov, having the right nutrition is every child's right. He said: "When children are well-nourished, they can better learn, play, and engage in their communities, while also being more resilient in the face of illness and crises. Good nutrition is a fundamental driver of development and is essential for nation-building."

‘Golden’ celebration

MARKING its fifth decade, this year’s National Nutrition Month is themed “Sa PPAN: Sama-sama sa Nutrisyong Sapat Para sa Lahat!” (Through PPAN, let’s collaborate on nutrition security for all!).

Its national launch was held in Koronadal City in partnership with the provincial government of South Cotabato. Participants pledged to support

the PPAN and learn from the good practices of implementers from the SOCCSKSARGEN region.

To promote the PPAN, the Nutrition Month campaign aims to increase consumer demand for healthy diets and enhance access to adequate, age-appropriate, nutrientdense, diverse, safe, and sustainable diets. The PPAN, which includes nutrition interventions in all stages of life, emphasizes the need to educate families and communities on proper nutrition.

Local government units responsible for delivery of nutrition services at the local level are expected to have local nutrition action plans that are aligned with the PPAN. Their investment in nutrition must include interventions in the critical first 1,000 days that should be reached at least 90 percent of target pregnant women and children 0 to 23 months old. They ought to be complemented with interventions to stop the rise in obesity including policies on reducing marketing of unhealthy food and beverages to children, promoting physical activity by transforming the built environment and improving access to nutrition services.

The NNC calls on all stakeholders to integrate services in the PPAN priority areas which are 34 provinces with the highest rates of child stunting and food poverty. It recently launched the PPAN Stakeholder Map which profiles the interventions of different sectors in municipalities and cities nationwide. Stakeholders can give support in areas with program gaps.

For its part, UNICEF played a key role in shaping the path ahead by holding focus group talks, theory of change workshops, and developing an operational plan, among others. Roderick L. Abad

they said, the government risks normalizing the presence of the tobacco industry in sectors dedicated to public health and welfare.

“This not only undermines efforts to reduce tobacco use and its devastating health impacts but also compromises the integrity of public health policies,” Relator said.

Furthermore, they reiterated, the DOJ decision could create conflicts of interest within the DSWD and other government agencies.

“It opens the door for the tobacco industry to influence public health policies and programs, which should remain free from any vested interests that could jeopardize public health, especially the health of our children,” he said.

Practical concerns

PAV also raised practical concerns regarding the implementation of such

donations like: How will the government ensure that the donations from the tobacco industry do not influence the priorities and decisions of the DSWD? How will transparency and accountability be maintained to prevent any undue influence from the tobacco industry?

“We urge the government to reconsider this decision and prioritize the health and well-being of our children and youth,” Relator said, reiterating that the acceptance of donations from the tobacco industry contradicts the spirit of the WHO FCTC and our national legal framework designed to protect public health and ethical governance.

“We must uphold our commitments to protect public health and prevent the undue influence of the tobacco industry in public health policies,” he concluded.

Pharma company initiates program to address PHL declining birth rate

By Rory Visco Contributor

OVER the years, the fertility rate of the Philippines experienced a serious decline. The year 2021 saw the country’s fertility rate slow down to 2.504 births per woman for a 1.03-percent decline from 2020, 2.479 births per woman in 2022, a decline of one percent from 2021, and 2.454 births per woman last year for 1.01-percent decline from 2022.

For this year, the current fertility rate in the country was at 2.431 births per woman for a 0.94-percent drop from last year.

According to the 2022 Civil Registration and Vital Statistics (CRVS), the number of registered births slowed from 1.76 million in 2013 to about 1.46 million in 2022 for a 17.4-percent fall over the last 10 years.

When compared with the 2022 National Demographic and Health Survey, the 12th edition carried out since the survey was instituted, and covered a national sampling of more than 30,000 households and almost 28,000 women in the 15-to-49 age bracket, showed that the total fertility rate (TFR) in the country dropped sharply to 1.9 children, which is below the replacement level of 2.1 children per woman, a decline from 2.7 in 2017 in the last five years, the “sharpest ever recorded” according to the Commission on Population and Development (PopCom).

Changing fertility preferences

IT is believed that this drop was due to changing fertility preferences and/or the results of various programs and policies that have been in place to address the problem of population growth in the past decades.

It is also seen that the country’s young population is gradually ageing as the number of people aged 60 and above is seen to grow to 13 percent by the year 2050 from a low of around five percent back in 2020. As for the Asia-Pacific (APAC) region, this age bracket of 60 years old and above is seen to grow three times in number from 2010 to 2050.

In Japan, for example, around 12 million people, or about 20 percent, are seen to vanish from its workforce by 2040, according to an article that appeared at the World Economic Forum website. This development certainly poses significant challenges for economic growth and societal support structure. In Taiwan, meanwhile, there would be 10 times fewer working-age people that can support each elderly person between 1990 and 2050.

Fertility Counts

AS part of its efforts to push for policy interventions that hopefully may lead to a family-friendly society, global health care company Merck in the Philippines launched an initiative that focuses on the social, economic, and societal impacts of declining birth rates.

The company supported the Economist Impact’s Fertility Counts, which is aimed at encouraging policymakers and advocates to prioritize socioeconomic incentives for couples who

want to have children and contribute to building family-oriented societies. Merck believes that the initiative holds significance in the Philippines, which is a key market in the APAC region. In a statement, it reiterated that the country’s diverse demographic landscape and evolving social dynamics are important factors that could support promotion of sustainable population growth and societal development.

The global pharma company further identified the fundamental goal of Fertility Counts, saying that while the decision to have children is personal, “the aggregate impact of these choices affects the population count and overall economic stability of a country,” and likewise pointed out that declining birth rates could be a crucial socio-economic issue as it could influence the structure and future of the national economy.

To further accentuate why Fertility Counts is significant, Merck attended the Aspire Congress in the Philippines, a convention that served as an effective platform in the exchange of ideas and insights as well as exploration of innovative solutions among policymakers, healthcare professionals, advocates, and other stakeholders regarding slowing birth rates.

Thought provoking discussions DURING the congress, Merck facilitated thought-provoking discussions on topics related to declining birth rates, and likewise engaged local and regional experts and stakeholders in identifying effective policies that can support the creation and development of familyfriendly societies.

“We are thrilled to have the Fertility Counts initiative in the Philippines and be present at the Aspire Congress,” said Dr. Virgilio Novero, reproductive medicine specialist and former president of the Philippine Society of Reproductive Medicine.

“The Philippines holds a critical position in our mission to create familyfriendly societies across the APAC region. Through collaborative efforts and informed policymaking, we aim to empower individuals and communities to make informed choices regarding family planning,” Dr. Novero added. Also launched was the Fertility Counts Scorecard (https://www.fertilitycounts.com), a report Merck supported with global business intelligence firm Economist Impact. The report, generated by a panel of the region’s academic, clinical, and public sector experts, provided an evidence-base for discussion and implementation of policies aimed at addressing diminishing fertility rates in the country and the APAC region. The Fertility Policy Toolkit identified four specific policy areas: childcare, workplace, financial incentives, and assisted reproduction. This resource offers practical guidance customized to the socio-economic contexts of various countries across the APAC.

“We believe that by addressing the root causes of declining birth rates and advocating for supportive policies, we can positively impact the future of our communities,” said Merck Inc. Managing Director Martha Paiz Herrera.

METRO PACIFIC INVESTMENTS FOUNDATION’S 15-YEAR JOURNEY RECOGNIZED AT THE 2024 CSR GUILD AWARDS

METRO Pacific Investments Foundation (MPIF) is proud to announce that its flagship program, “Shore It Up! Celebrating 15 years of championing environmental conservation,” has been honored at the 2024 CSR Guild Awards by the League of Corporate Foundations (LCF). The program’s 15th Anniversary initiative titled, “Enlarging Our Blue Footprint for Philippine Marine Biodiversity Conservation,” was awarded the distinction of Most Outstanding Corporate Social Responsibility (CSR) Project in Environment for its sustainable impact.

The CSR Guild Awards, a recognition program of LCF, honors foundations and corporations for exceptional CSR initiatives. SIU’s award signifies its holistic and multidimensional approach to marine conservation, addressing various aspects of environmental protection and community engagement.

Melody del Rosario, President of MPIF, reiterates the importance of such initiatives, stating, “As a country increasingly vulnerable to the impacts of climate change, we must take decisive action. Shore It Up! is committed to creating real change through conservation and restoration efforts, education, sustainable tourism, livelihood diversification, and fostering essential partnerships. Our goal is to build a sustainable and resilient environment for future generations.”

Shore It Up!’s 15th anniversary was marked by a focused initiative aimed at significantly enhancing marine biodiversity conservation across the Philippines. Some of the key projects included impactful projects such as sustaining the UNESCO World Heritage Site Tubbataha Reefs Natural Park, rehabilitating the Mangrove Center in Del Carmen postTyphoon Odette, hosting of a Multisectoral Forum for environmental issues, and formal-

izing partnerships with local government units like Mabini, Batangas for marine conservation programs.

These efforts aimed on strengthening the resilience and health of marine and coastal ecosystems through active restoration and protection efforts, while simultaneously promoting sustainable economic opportunities for local communities. By providing training and support for eco-tourism and sustainable fisheries, Shore it Up! ensures that conservation efforts are not only environmental sound but economically viable for the community. Additionally, SIU focused on increasing awareness and participation through targeted educational campaigns and community engagement efforts.

SIU’s remarkable impact over the past 15 years includes the establishment of three mangrove centers, the protection of 5,263 hectares of mangroves, partnerships with 13 local government units, collaboration with 464 partner organizations, safeguarding 102,083 hectares of Ramsar sites, engaging 1,034 scuba divers, 2,600 runners, 86,902 volunteers nationwide, 2,800 junior environmental scouts, 48 marine guardians, and six mangrove eco-guides.

Aligned with Gabay Kalikasan, one of the MVP Group’s Gabay Advocacies for a Sustainable Philippines, Shore It Up! actively supports the United Nations Sustainable Development Goals (SDGs), particularly Goal 14: Life Below Water, Goal 15: Life on Land, and Goal 17: Partnerships for the Goals.

Mondelēz International Holds Successful CBA Negotiations

MONDELĒZ Int ernational, the world’s leading snack company, recently concluded its latest Collective Bargaining Agreement (CBA) negotiations in the Philippines. With the aim of upholding the Company’s mission to build a winning growth culture, the negotiations with the Mondelez Philippines, Inc. Workers Union-ALU-TUCP resulted in a renewed agreement that will be effective from August 2024.

Established in 1994, the CBA of the Company outlines agreements between the Company’s management and the Union for competitive wages and benefits, scope of work, and performance indicators. This year’s CBA was aimed as a platform for progressive communication and included a comprehensive review of workplace conditions to ensure that all aspects

of employment are addressed and mutually agreed upon by the Management and the Union. The Union is a member of the Associated Labor Unions—Trade Union Congress of the Philippines (ALU-TUCP).

Mondelēz International aims to build a winning growth culture through its continuous efforts of adapting to the changing needs of its employees.

The Company’s three values are Love Our Consumers & Brands, Grow Every Day, and Do What’s Right. These values help shape its culture, guide its actions, and reflect what they believe in and how they desire to lead. During this year’s CBA negotiations, agreements were made to ensure employees continuously enjoy a great workplace while driving better efficiency and performance for the Company.

“We commend our Union representatives and

CBA negotiating team for a successful agreement,” said Aleli Arcilla, Mondelēz International’s Managing Director in the Philippines. “This will help ensure that all colleagues are supported, and their development is provided for, all while allowing our business to operate efficiently and effectively. This is a testament to our ongoing commitment to creating a positive and productive work environment and working towards an important level of engagement and partnership.”

“We are pleased to announce the successful conclusion of the collective bargaining agreement between Mondelez Employees Union and Mondelēz International,” said Rolante Santos, Director—Membership, Recruitment, and Services Department of ALU-TUCP. “This agreement reflects our commitment and collaboration in the workplace. We look forward to continuing to work together to create a positive and productive working environment for all.”

Successfully completing the CBA negotiations reflects Mondelēz International’s dedication to fostering a collaborative and supportive environment for everyone involved in the Company. The agreement highlights the Company’s dedication to creating a favorable workplace grounded on a proactive approach to employee welfare, while persistently pursuing world-class plant performance.

Rotary Club of Lucena Circle Donates Ultrasound, ECG Machines to City Government of Lucena have made a tangible difference in the lives of many Lucenahins,” he stated. For her part, Dr. Chua highlighted the importance of the new equipment, noting that it would allow the city’s health professionals to provide better care and more efficient services to patients.

Bisagas emphasized the Rotary Club’s commitment to serving the community, stating, “Our mission is to create hope and improve lives. By providing these advanced medical machines, we aim to make a lasting impact on the health and well-being of our fellow Lucenahins.”

Underlining the Rotary’s global commitment to health initiatives and expressing his pride in the local club’s efforts. “This is a testament to the power of Rotary’s network and our shared goal of promoting better health outcomes worldwide,” he said.

The ceremony concluded with a photo opportunity with the new ultrasound and ECG machines, showcasing their advanced features and the immediate benefits they will bring to Lucena City’s healthcare services. The Rotary Club of Lucena Circle’s donation is expected to significantly enhance the city’s medical infrastructure, ensuring that residents have access to high-quality diagnostic tools.

their contributions

A Floral Feast Discovery Moment: Petals & Palates at Sheraton Manila Bay

HAPPENING on July 25, 2024 at &More by Sheraton is a meticulously crafted five-course dinner paired with five exquisite floral-inspired cocktails and a floral exhibit by Imahica Art Gallery. Guests will be greeted with a refreshing Lavender Blueberry Vodka Soda, a delightful welcome drink that sets the tone for the evening’s floral elegance.

The feast begins with a Garden Toast with dill goat’s cheese and petals, beautifully paired with the Blue Pea Garden, a refreshing gin-based cocktail infused with basil and thyme. This will be followed by Oysters and Scallops in lime dressing, perfectly complemented by the Chamomile Gin Fizz, a cocktail that balances the sunny flavors of chamomile, lemon, and honey.

The third course presents Flower Laminated Ravioli with cod filling in garlic cream sauce, paired with the Tropical Hibiscus, a tequila-based cocktail enhanced with homemade hibiscus syrup and ginger beer. The fourth and fifth course will be kept a secret for our guests to discover during the event.

The evening will be further enriched by a stunning floral exhibit from Imahica Art Gallery, creating a visual feast that complements the culinary delights. Join us for

an unforgettable night celebrating the beauty and flavors of flowers in a harmonious blend of art and cuisine. Gather at Sheraton Manila Bay’s Discovery Moment: “Petals and Palates.”

Discovery Moments are a monthly gathering sssexclusively at Sheraton Manila Bay. Reservations are now open. To secure your table, please contact Manila Bay Kitchen at +632 5318 0788 or email sh.mnisb.fb@sheraton.com

Sheraton Manila Bay is a renowned hotel located at M. Adriatico corner Gen. Malvar Streets, Malate, Manila. The hotel offers luxurious accommodations, exceptional dining experiences, and state-of-the art facilities. With its commitment to providing exceptional service and creating unforgettable moments, Sheraton Manila Bay is the perfect destination for both leisure and business travelers. To reserve or book your room accommodations go to www.sheratonmanilabay.com. Sheraton Manila Bay is conveniently located at M. Adriatico corner Gen. Malvar Streets, Malate, Manila. Like us on Facebook and Instagram @sheratonmanilabayand follow us on Twitter at@sheratonmnlbay

The City Government of Lucena and the Rotary Club of Lucena Circle reaffirmed their commitment to ongoing collaboration, with plans for future projects aimed at further improving the health and well-being of the community.

MPIF

MONDELĒ Z International concludes its latest Collective Bargaining Agreement negotiations with the signing of the CBA.

Envoys&Expats

VISIT TO NHRFI AND MRT Foreign Minister Yoko Kamikawa of Japan (second from right) visited Nippon Human Resources Foundation Inc. on July 7, where she exchanged views with NHRFI president Danilo S. Navarro on the foundation’s activities and support prospects for dispatching

US backs Iloilo’s responsible seafood sourcing expansion

THE United States Agency for International Development (USAID) Philippines joined local partners for the “Responsible Seafood Sourcing Program” expansion in Iloilo.

The effort aims to boost the domestic market for responsibly sourced seafood while reducing illegal, unreported, and unregulated fishing in the province.

“Through the…program, businesses can consistently provide quality seafood products, while ensuring [marine environment health] and supporting the livelihoods of local fishing communities,” Mission Director Ryan Washburn of USAID said at an event attended by representatives of Iloilo’s local government, the Bureau of Fisheries and Aquatic Resources (BFAR), the national government and privatesector, as well as the local seafood industry.

THE Embassy of Japan’s officials witnessed the hand-over of the Digital Transformation Center (DTC) at the Department of Information and Communications Technology (DICT) Office in Cotabato City.

Under the P1.8-billion ($33-million) “Fish Right” program, USAID and BFAR will work with the local community, the private sector, and government partners to develop direct market linkages among fishers, hotels, restaurants, and groceries in growing the local market for responsibly-caught blue swimming crabs; as well as creating livelihoods for fisherfolk, and incentivizing sustainable fishing practices.

GPCCI hails

EU-PHL FTA resumption of negotiations

THE German-Philippine Chamber of Commerce and Industry Inc. lauded the announcement of the European Commission that the European Union (EU) and the Philippine government have officially resumed negotiations for a free trade agreement (FTA), as announced in Brussels, Belgium.

“We are encouraged by recent developments surrounding the resumption of the EU-Philippines [FTA], particularly highlighted by President Marcos’s remarkably successful visit to Germany…that included a business forum we had the honor of coorganizing.” said GPCCI president Stefan Schmitz.

With Germany standing as the Philippines’s leading trading partner and top investment figures in 2023, as reported by the Board of Investments, the FTA presents a significant opportunity to further enhance interests of German firms, as demonstrated by their keen enthusiasm observed during the business forum.

USAID’s work with BFAR and the private sector to widen responsible seafood sourcing in Iloilo connects responsible fishers to Philippine seafood businesses, buyers, distributors, and communities and improves transparency of the seafood supply chains. Through USAID’s support, crab fishers from Igbon Island are now able to supply whole chilled crabs to the Courtyard by

Marriott Hotel in Iloilo City.

The program will also aid small fishers in finding new local markets to lessen their dependence on the volatile export market. The Philippines is a key exporter of blue swimming crab, and is the secondlargest exporter of the said species to the US.

“Responsible seafood sourcing is the way to go, as we endeavor to achieve conservation and sustainability of our fisheries resources, while ensuring that livelihood

and welfare of fishing communities are appropriately taken care of,” Agriculture Undersecretary for Fisheries Drusila Bayate said in a statement.

For more than three decades, USAID has partnered with the Philippines in supporting environmental conservation. Through “Fish Right,” the aid agency is promoting safe, legal, and responsible fisheries practices in the Visayan Sea, Southern Negros Island, Calamian Group of Islands, and Zambales Province.

Taiwan’s ‘smart city’ Kaohsiung shares know-how with Philippine vice mayors

VICE Mayor Charles Lin was invited to represent Taiwan’s Kaohsiung City government at the Second Quarter-2024 Regular National Executive Board Meeting of the Vice Mayors’ League of the Philippines (VMLP) last month in Manila.

In his keynote, Lin discussed the topic: “People-Oriented Smart Cities: The Experience of Kaohsiung City” that highlighted recent efforts and successes in developing a smart city and its urban transformation. At the event, he exchanged insights on urban governance with local vice mayors and officials nationwide. The vice mayor was invited to the Regular National Executive Board Meeting by the Center for Local and Regional Governance at the University of the Philippines’ National College of Public Administration and Governance and the VMLP.

and governance, Lin focused on making Kaohsiung efficient and livable. He shared examples like solar-panel installations, the light-rail circle, the undergrounding of the city’s train station, the preservation of the old rail depot, Love River remediation, the Kaohsiung Railway Workshop transformation, signature parks, social housing, and harbor area redevelopment.

The DTC’s construction was part of the government of Japan and the International Labour Organization’s (ILO) extensive project: “Bringing Back Jobs Safely under the Covid-19 Crisis in the PH: Rebooting Small and Informal Businesses Safely and Digitally (BBJS Project).” Launched in 2021, it implemented various activities that promoted resilience and economic recovery for micro, small and medium enterprises (MSMEs), as well as informal businesses in the Philippines following the health crisis.

The newly launched DTC in Cotabato City will provide digital resources and training programs to promote digitalization of business operations and job creation among MSMEs in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

In his remarks, First Secretary Chihiro Kanno emphasized that while the project was initiated because of the Covid-19 pandemic, the project’s promotion of occupational safety and health as well as digitalization of business operations proved to be extremely important even beyond a health crisis. He expressed hopes that the collaborative efforts behind the DTC’s creation will continue to empower more people in the coming years, ensuring the center’s positive impact even beyond the project’s term.

Satellite-based Internet connectivity via Starlink and computers were also handed over to five DICT Tech4ED Centers to address challenges. The centers are located in the BARMM municipalities of Upi, Parang, and Buldon; and in Region 12: General Santos City and M’lang. Over the years, Japan and ILO have collaborated on development initiatives for the Philippines, with a common goal of helping improve the lives of Filipinos.

NHCP leads 22nd Phil.-Spanish Friendship Day events, 126th yr of Baler siege commemoration

SAN MIGUEL, BULACAN—

The National Historical Commission of the Philippines (NHCP) headed festivities of the 22nd Philippine-Spanish Friendship Day and the 126th annual commemoration of the start of the siege in Baler, Aurora on July 1. An earlier commemoration and equally significant remembrance was done at the house of Lt. Col. Simon Tecson in San Vicente, San Miguel, Bulacan on June 26, which honored his role in securing Filipino victory in Baler.

NHCP chairperson Lisa Guerrero Nakpil led the wreath-laying rites with Ambassador Miguel Utray Delgado of the Embassy of Spain. They were joined by officials of the Municipality of San Miguel, the Philippine National Police, the local government of the province of Bulacan, and descendants of Tecson.

Lin was the first Taiwanese representative invited to speak at the meeting, where he delivered a presentation on smart cities, net-zero emissions, and urban governance. He suggested ways cities can promote digital and smart transformation, enhancing the government officials’ knowledge and implementation abilities. Kaohsiung’s geographical and climatic conditions are similar to those of the Philippines, as both face similar challenges in urban governance. Lin explained how smart transformation can boost governance efficiency and address municipal issues.

Vice mayors in attendance took photos of Kaohsiung’s achievements on their smartphones during the speech and exchanged views with Lin on topics such as light rail, Kaohsiung Station experiences, rapid solar-panel deployment, and others. Participants shared that the cases inspired them to develop more smart strategies on city governance in the future.

By integrating technology into public services, he said the government can “do more with less” by enhancing publicservice quality and efficiency for citizens. Kaohsiung’s successes in traffic management, smart agriculture, water management, reclaimed water, and health care impressed the city representatives in attendance, who expressed deep interest in establishing closer ties with and visiting Kaohsiung. In his sharing on net-zero initiatives

During the question-and-answer session, those present asked how Kaohsiung enables its citizens to engage in agriculture smartly and conveniently, as well as how various modes of vehicles are integrated into single interface and provide users with real-time, intelligent transportation information. Several cities also expressed their desire to visit the Taiwanese city and learn from its experience to accelerate their own urban transformation.

For the second part of the program, the invocation was read at the Diocesan Shrine and Parish of St. Michael Archangel, with messages from Municipal Mayor Roderick Tiongson, Governor Daniel Fernando of Bulacan, Nakpil and Delgado.

According to the NHCP, thenpresident Emilio Aguinaldo assigned Tecson as the leader of the Baler siege. Along with other soldiers from Bulacan, the military official helped end it, received the surrender of Spanish soldiers, and ensured they left unharmed. The Siege of Baler tells the story

of Spanish soldiers who held out in Baler Church 15 days after the proclamation of Philippine independence. Despite informing them that the war had already ended, the soldiers barricaded themselves for 11 long months. Only when Aguinaldo passed a presidential decree that commended their heroism, as well as allowed for their safe passage and their treatment as friends, did they finally come out. In 2003, Republic Act 9187 created the Philippine-Spanish Friendship Day to be observed every June 30 to remind Filipinos of the simple benevolent act in Baler that paved the way for better relations between the Philippines and Spain today.

75 YEARS OF FORMAL TIES Ambassador David Hartman (left) and Foreign Affairs undersecretary Maria Theresa Lazaro raise their glasses to celebrate the 75th anniversary of formal diplomatic cooperation between the Philippines and Canada in June. Both diplomats highlighted the dynamic people-to-people exchanges of the two nations, which serve as the bedrock of their relations through time.

MISSION Director Ryan Washburn (front row, second from left) joins local government officials, private-sector partners and members of the fishing community.

KAOHSIUNG vice mayor Charles Lin attended the Regular National Executive Board Meeting of the Vice Mayors’ League of the Philippines.

TECSON house marker

VITO SARINES bagged a third leg victory with plenty to spare over Jacob Casuga as leaders went coast-to-coast in winning the titles in the International Container Terminal Services Inc.

Junior Philippine Golf Tour (ICTSI JPGT) Luzon Series 4 at the Riviera Golf and Country Club’s Couples in Silang, Cavite, on Wednesday.

Sarines carded a 74 in overcast skies after a 70 for 144 total and a whopping 15-stroke triumph over Casuga, who pooled a 159 after a 79.

Nathaniel Yeung struggled with a 91 and wound up third behind Sarine with a 178 in the boys’ 10-12 category. Sarines, who won at Splendido Taal and Pinewoods and was second at Pradera Verde, vowed to secure at least one more win in the ﬁnal three stops of the seven-leg Luzon series. “I will compete in the rest of the Luzon series and aim for another victory,” he said.

In the girls’ 10-12 division, Aerin Chan finally clinched the top spot after two fifth-place finishes in the girls’ 10-12 division—she slowed down with an 86 after an impressive 73 but still won by five with a 159 total.

Quincy Pilac shot an 85 for second at 164, while Pradera Verde leg winner Georgina Handog and Maurysse Abalos, who topped Splendido Taal, placed third and fourth with 84-175 and 97-191, respectively, in the fourth leg of the regional series sponsored by ICTSI and organized by Pilipinas Golf Tournaments Inc.

“It’s really exciting to win, and I hope to continue this success in future tournaments,” Chan said as she emphasized the importance of working on her attitude. “My goal is to signiﬁcantly improve my short game, especially my putting.”

In the boys’ 8-9 group, Cebu’s Kvan Alburo, already a finalist after dominating the three-part Visayas series, matched his first round output of 90 to finish the 36-hole competition with a 180 over Jesus Yambao and Michael Ray Hortel II by 23 strokes. Yambao carded a 104 while Hortel II faltered with a 105 as they tied for second with 203s with the former snaring runner-up honors via countback.

Athena Serapio made a strong debut in the JPGT by cruising to an 11-stroke victory in the girls’ youngest category with a 91 for a 184 total.

Tyra Garingalao ﬁnished second with 100 for a 195, while Andrea Dee came in third with a 103, totaling 202. “I just focused on each hole. I needed to make a good score because my ﬁrstround performance was poor,” said Serapio, who will turn eight this year. She thanked her parents and swing coaches for their support.

In the 13-15 category, set over 54 holes, Jose Carlos Taruc and Levonne Talion maintained ﬁrm control, while Patrick Tambalque and Rafa Anciano stayed ahead of their rivals in the premier 16-18 division of the nationwide circuit supported by PGTI oﬃcial apparel Kampfortis Golf.

Taruc shot a 78 after a 79, his 157 aggregate giving him an eight-shot cushion over Andres Fabie, who carded an 80 after an 85 for a 165. John Paul Agustin Jr. slipped to third at 166 after an 84.

Obiena focused on Paris–Tolentino

By Josef Ramos

RNEST JOHN “EJ”

EOBIENA will remain in France as he winds up his preparations for the Olympics and according to Philippine Olympic Committee president Abraham “Bambol” Tolentino, the world No. 2 men’s pole vaulter is focused on Paris.

“EJ is doing well and is very focused, him despite missing on a medal in the Diamond League in Paris,” said Tolentino, who talked with Obiena via internet call on Tuesday afternoon. “After the Diamond League, EJ and his team will remain in France and no longer return to their base in Formia [Italy].”

Obiena confirmed to BusinessMirror that he and his team will be based in Normandy for the rest of the training period ahead of the men’s pole vault competitions in Paris are set August 3 for the qualification and August 5 for the final both at the 81,000-seat Stade de France.

“We’ll be in Normandy,” said Obiena, referring to his renowned Unkranian coach Vitaly Petrov’s decision to bring his world-class ward to the Normandy Sports Centre.

“It’s a good facility, no distractions,” said Obiena’s conﬁdante Jim Laﬀerty.

The Normandy facility mirrors the Metz training camp which the POC arranged for the other Parisbound athletes.

Obiena said his team, including physiotherapist Antonio Guglietta, is locked and loaded for the Olympics.

“Vitaly Petrov really knows my

program very well,” Obiena said. “All I do now is trained. All I care about now is Olympics.”

Added Obiena: “The Patafa is dealing with the other things like the logistics and also my parents who will also ﬂy to Paris.”

The Patafa is the Philippine Athletics Track and Field Association headed by Terry Capistrano.

Tolentino said it would be practical for Team Obiena to remain in France instead of returning to its base in Formia, Italy,

He also assured Obiena that his parents—Emerson, himself a former national pole vaulter, and Jeanette—will be in Paris to cheer and support their son.

The elder Obienas, Tolentino said, are managing their son’s other logistical needs to keep him focused on the games.

The Normandy Sports Centre is a mere two-hour drive from Paris and Tolentino assured Obiena that he will send a team from the POC secretariat to make sure the Asian champion gets the needed support for his preOlympics training.

Joining Obiena on Team Philippines in Paris are weightlifters Vanessa Sarno, John Febuar Ceniza and Elreen Ando; boxers Aira Villegas, Hergie Bacyadan, Carlo Paalam, Nesthy Petecio and Eumir Felix Marcial; rower Joanie Delgaco;

fencer Samantha Catantan; gymnasts

Carlos Yulo, Emma Malabuyo, Aleah Finnegan and Levi Ruivivar; swimmers Kayla Sanchez and Harold Hatch; judoka Kiyomi Watanabe; golfers Bianca Pagdanganan and Dottie Ardina; and hurdlers Lauren Hoﬀman and John Cabang Tolentino.

FORMER Ironman 70.3 champion

Eric van der Linden faces a formidable challenge from a bumper crop of young triathletes and veterans in the Sun Life 5150 Bohol unfolding Sunday on Panglao Island. Known for his resilience and skill, van der Linden defied challenging conditions to clinch the title at the Ironman 70.3 Subic last year. The 50-year-old Olympian from

Schagen in Holland will be taking on a shorter yet equally demanding race this time—the 5150 Bohol features a 1.5-km swim, a 40 km-bike ride, and a 10-km run.

In addition to his impressive victory at Subic, van der Linden showcased his prowess by winning his age group at the IM 70.3 Lapu-Lapu last April and securing 15th overall.

He also dominated the 50-54 age category at the IM 70.3 Westfriesland in his home country last month.

The 5150 Bohol will see van der Linden competing against 44 other international participants and hundreds of local racers.

Athletes from Australia, Switzerland, Germany, France, Great Britain, Greece, India, Japan, Korea, Mexico, Malaysia, Norway, New Zealand, Russian Federation, Singapore, Taiwan and the US, along with close to 500 local racers, will be out to foil van der Linden’s drive in the event organized by The Ironman Group.

The event will also feature the 5150 relay competition, with the Sun Life Tri-Team of Juan Miguel Guidote (swim) and Sun Life celebrity ambassadors Piolo Pascual (bike) and Matteo Guidicelli (run) all geared up to defend their crown in the 13-team all-male category.

64th Palaro in

Cebu

out and the general public can have access to all the professionally managed sports facilities. Why an Athlete’s House in the middle of this Sports Wonderland? When athletes train, they want to perfect their game. If they can avail themselves of more than one sports facility in just one place to develop various aspects of their game, that would be great. If they can eliminate worry about commuting to and from the training facility, especially at night, that would be terriﬁc. The Athlete’s House as dormitory or hotel makes sense. On Sunday, we took a tour of the two-story facility built like a cozy hotel with features and ﬁnishing that make it both upbeat and relaxing. Designed with the Filipino

Former 70.3 champ leads 5150 Bohol chase

City, puts premium on future sports heroes

RESIDENT Ferdinand R. Marcos

PJr. opened on Tuesday the 64th edition of the Palarong Pambansa in Cebu City where athletes from the National Academy of Sports (NAS) and Philippine Schools Overseas (PSOs) are making their debut in the annual sports competition of the Department of Education (DepEd).

“This event is more than just an inter-school [and] inter-regional competition, it is also a platform where we discover, where we develop, and hone future professional athletes, Olympians, and servantleaders,” President Marcos said in his speech before representatives from 17 DepEd-recognized regions at the Cebu City Sports Center.

Philippine Sports Commission Chairman Richard Bachmann joined President Marcos in the torch ceremony and lauded the role of school-based organizations in providing prestigious platforms for aspiring athletes.

“The present is bright, but the future looks brighter seeing these young athletes ready to showcase their own version of history here in Cebu City,” Bachmann said.

The DepEd included dancesports as a medal sport and soft tennis, karatedo, football for secondary girls and esports as exhibition sports in the Palaro program.

President Marcos emphasized the Palaro’s digitalization which will provide exceptional experience for all the young athletes.

“The values and virtues that will be displayed and put into practice here—such as excellence, teamwork, discipline, perseverance and most importantly sportsmanship—are the same ideals that we need to succeed in life and build a great nation,” the President said. With the President were Interior and Local Government Secretary Benhur Abalos, DepEd Assistant Secretary and Palaro secretarygeneral Francis Cesar Bringas and Director Leocadio Trovela, PSC Commissioner Edward Hayco and Philippine Paralympic Committee president Mike Barred. Local executives, Acting Mayor Raymond Alvin Garcia and Acting Vice Mayor Donaldo “Dondon” Hontiveros welcomed the President’s entourage.

Lady Bulldogs make strong presence felt via lopsided win vs Endurun gals

ATIONAL University made quick work of Enderun Colleges, 25-19, 25-15, 25-16, for a rousing start in Pool A of the 2024 Shakey’s Super League (SSL) National Invitationals Wednesday at the Ninoy Aquino Stadium.

Veteran Vange Alinsug and young winger Kaye Bombita led the Lady Bulldogs’ balanced scoring in the onehour, 18-minute clinic that sent a clear

athlete in mind, room conﬁgurations and design were built for teams looking for a comfortable and convenient home base for training. There are PWD rooms with wider shower rooms and aisles on the ground ﬂoor.

The bathrooms have a three-way feature so three persons can use the vanity area, the toilet or the shower simultaneously without getting into each other’s way. Besides the rooms, guests have a marketplace and an open terrace where they can enjoy the cool winds of Vermosa and reflect on the lush greenery of the Estates. The best part is that the training facilities and gym are just a few meters away. The best news is the Athlete’s House is open to the public. So individuals, family or friends thinking of a unique staycation where sports and fitness are high on the agenda can book rooms at the Athlete’s House and enjoy all the facilities as well. Also part of the Ayala Vermosa Sports Hub is The Athletics’ Center Dugout that had its groundbreaking Sunday. The only missing piece to the FIFA Certified football field will be finished in early 2025 and will turn the AVSH grounds into a loud, roaring field of fans when teams start competing. It will have team locker rooms, dedicated rooms for officials, referees and the media. It will have an open deck with panoramic views of the field and track. High quality

Celine Marsh made her presence felt oﬀ the bench with eight points including seven in the second set. NU, which ruled University Athletic Association of the Philippines Season 86 to gain a spot in the competition, peppered Enderun with 45 attack points and took advantage of its opponent’s spotty

canopies will protect spectators from the weather.

“The formal inauguration of the Athlete’s

PRESIDENT Ferdinand R. Marcos Jr. passes the Palarong Pambansa torch to Cebu City Acting Vice Mayor Donaldo “Dondon” Hontiveros as Acting Mayor Raymond Alvin Garcia looks on. MALACAÑANG PHOTO

vault competitions in August.