BusinessMirror April 12, 2022 by BusinessMirror

Last-ditch pitch for real property valuation bill

‘Close borders, cut Omicron exposure risk’ By Bernadette D. Nicolas @BNicolasBM

W C

By Cai U. Ordinario

ITH just over two months left under the Duterte Finance LOSING administration, the country’s borders Secretary Carlos G. Dominguez is one of the most immediate III renewed call forthe thegovernpassage of courses his of action the Real Property Valuation and Asment must take to prevent the latsessment Reform Act, saying est Covid-19 variant, Omicron, fromthis would help the government collect reaching Philippine shores, accordmore revenues. ing to local economists. Dominguez that the T he new var iantlamented is a threat, government is losing tens e s p e c i a l l y w it h t he hol id ayofs billionsupofand pesos because it is using coming more foreigners an “outdated” real property being a llowed to travel to thevaluation system proposed Philippines, De Lawhich Sa llethe Univermeasure seeks to address. sit y economist Mar ia Ella Oplas Passing the bill would help told BusinessMirror. the government collect theinright The holidays usually bring amount of taxes by regularly updatOverseas Filipino Workers (OFWs) ing the schedule of market values who are eager to spend Christmas @caiordinario

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(SMV) in assessing real estate assets, the finance chief said. “The loved market value of forprime with their ones, while commercial areas in Ayala Avenue eigners living in temperate regions within theto vicinity Lorenusually want relax of in San tropical zo in Makati City is only about countries like the Philippines. This P40,000 per square meter (sq year’s influx of OFWs is expected tom), based on themany City’sofSMV, be heavier since themwhen were in fact, the real market value ranges unable to come home for the holidays from P400,000 to P900,000 per in December 2020. sq m. So we are losing tens of bil“My recommendation is to protect lions of Do pesos that with kind of the borders. notbecause allow people wealth is not being taxed correcta history of travel to countries with ly,” Dominguez said in a statement. positive cases to enter,” Oplas said. A check by the Department “We should be more restrictive. [We of (DOF) on landinvalues haveFinance to be] more protective termslocated in Barangays San Lorenzo of our measures.” and Bel-Air in Makati City showed Oplas said that while this will be that the current SMV for real propa setback to some industries, this (RPT) considering imposed by LGUs is a erty fair tax measure that in these areas is only P40,000 this could help prevent placing per the sq m, as opposed to the high-end zonal country in another strict lockdown,

value of P940,000 per sq m used by the Bureau of Internal Revenue to compute estate, which, she said, the donor’s economyand cancapino tal gains taxes, which are national longer afford. taxes. “It is better that we do protective Based measures on the current set preventive than SMV get exby the Makati local government, posed again. We have a lot to lose,” the said. DOF“We saidshould the total for Oplas do it RPT now so both commercial areas would only that we can open just before Christamount tocontained, 50.27 million, which mas. If it gets we can openit called “relatively paltry” compared it again.” to P1.18Center billionfor that could beRecolAteneo Economic lected yearly using the more current search and Development (ACERD) zonal values to compute the RPT. Associate Director Ser Percival “Thus, the total RPT that K. Peña-Reyes said closing could the be collected yearly wouldbebeeffechigher country’s borders would atbut P593.78 for Barangay tive shouldmillion still adhere to the San Lorenzo, and P587.46 million standards set by the World Health for Barangay Bel-Air, or a total of Organization (WHO). P1.18 billion for these sampled What is needed, Peña-Reyes told commercial areas intravel Ayala restricAvenue,” this newspaper, is for the DOF said. tions to be put in place swiftly and

Better than wealth tax

DOMINGUEZ also reiterated that reforming the property valuation for government to be proactive in system is the correct way to impose a imposing them. so-called “wealth tax” on the rich,the bePrevious instances when cause land cannot be hidden nor spircountry had the opportunity to imited travel away unlike the proposed wealth pose restrictions did not pretax on movable assets that could vent the spread of Covid-19. That lead was to capital flightthe anddecision tax avoidance. mainly because was not Heimmediately, added that local government made he said. units are in the best position to imple“Kung papatay patay [If we’re ment the “effective form of wealth tax” slow] and we get caught flat-footby using updated SMVs and a proped, [that’s risky] We were too reerty valuation system aligned with active instead of proactive before. international standards. However, We should learn from that,” Peñathe DOF out thatbalancing LGUs are Reyes said.pointed “It’s a delicate hesitant to impose the RPT basedand on act. We need to push testing updated SMVs, mainly due to polititracing to be properly informed considerations despite the Local ofcal our decisions. Blanket/shotgun Government Code stating that these approaches could have dire conseshould be updated every three years. quences on the economy.” See “Real property,” A10 See “Omicron,” A2

PANDEMIC SHAVED P3T NATL GOVT BORROWINGS FROM FOR 10 ECONOMY—NEDA MOS DIP TO P2.75T w w

n Tuesday, April 12, 186 Monday, November 29, 2022 2021 Vol. Vol.17 17No. No.52

SRA to sugar import critics: Omicron risk revival Can you handlespurs shortage? of quarantine rules in PHL

By Bernadette D. Nicolas @BNicolasBM

P25.00 P25.00 nationwide nationwide || 22 sections sections 18 20 pages pages ||

HE national government’s gross borrowings as of end-October shrank by almost 6 percent year-on-year to P2.75 trillion.

By Jasper Emmanuel Y. Arcalas @jearcalas

Latest data from the Bureau of the Treasury showed that the government’s gross borrowings during the 10-month period fell by 5.99 percent from P2.92 trillion a year ago. With only two months left for this year, the latest figure is already equivalent to 89.6 percent of its P3.07-trillion borrowing program. Broken down, gross domestic borrowings from January to October settled at P2.23 trillion, down by 5.08 percent from P2.35 trillion in 2020. The bulk of the amount was PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. sourced from Fixed Rate Treasury The country will celebrate the 158th birth anniversary of Filipino revolutionary Bonds (P1.19 trillion), followed by hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO short-term borrowings from Bangko Sentral ng Pilipinas or BSP (P540 PASSENGERS are seen at the Parañaque Integrated Terminal Exchange (PITX) on Monday, April 11, 2022. Transport authorities are bracing for a surge in passenger traffic during the Holy Week. NONIE REYES billion), Retail Treasury Bonds/Premyo Bonds (P463.3 billion), Retail By Cai U. Ordinario @caiordinario Onshore Dollar Bonds (P80.84 billion). In the same period, there was By Jasper Emmanuel Y. Arcalas dating its registry following the them. This allows everyone to see also a net redemption of Treasury @jearcalas enactment of the Coconut Farmwho are listed in the registry and if Bills amounting to P43.94 billion. ers and Industry Trust Fund law. farmer doesn’t see his name then he Net debt redemption means ORE than 3 million Rosales explained that about shall coordinate with the PCA imthere were more debts repaid comHEcoconut Philippines invests terconnected factors coconut farmers and 500,000 farmers and mediately,” he risk explained at athat recent pared to the amount borrowed durless than a percent of its cause stunting,” the authors led workers are now regisworkers were added to the PCA’s dialogue with coconut farmers. ing the period. GDP for nutrition proby PIDS Supervising Research tered with the government’s reg2018 list that had about 2.5 million “On the other hand, if people Meanwhile, gross foreign borgrams that could prevent stuntSpecialist said.list and istry, which serves as the basis coconut farmers and farm workers. would seeJhanna names Uy on the rowings in the same period also ing, according to a study released “We have large investments for the number of people to be The PCA’s next step is to conthey think they are not coconut contracted by 9.7 percent to P518.7 by state-owned think tank Philin households maternal covered by the utilization of the duct an exclusion-inclusion profarmers or theirand details are incorbillion from last year’s P574.4 billion. ippine Institute for Develophealth, but lack investments in P75-billion coconut levy fund. cedure by making the updated rect, they can report it to the PCA This was raised through global ment Studies (PIDS). child health care and factors at Philippine Coconut Authority farmers’ registry public, providfor immediate action,” he added. bonds (P146.17 billion), program In an online forum on Monday, nesses that were not able to produce In the study, titled “A Rehome which directly determine (PCA) Deputy Administrator Roel ing everyone the opportunity to The PCA official noted that loans (P139.98 billion), euro-deNeda Undersecretary for Policy and as expected,” Edillon view of Public Expenditures child dietary intake [i.e.initial mater-list M. Rosales said aboutexplained. 3.11 million check the veracity of the list, for Rothe completion of the nominated bonds (P121.97 billion), Planning Rosemarie G. Edillon said “This means you have businesses Nutrition in National Governnal education, adolescent fertilcoconut farmers and farm worksales added. of coconut farmers registry would a project loan (P86.41 billion), and if it weren’t for the pandemic, the that actually lost during these past ment Agencies of the Philippines ity],” they added. ers have been registered with the “The list will be posted in public be just in time for the expected yen-denominated samurai bonds country’s GDP would have already twogovernment years.” [2017–2019],” the country only The study also found that insince it started upspaces where people can easily see rollout of coconut levy-funded (P24.19 billion). reachedSee P22 trillion. Because of the losses they ininvested 0.95 percent of its GDP ternational aid, including loans, “Borrowings,” A2 Edillon said this meant that the curred, businesses may have laid for nutrition programs. for nutrition to the Philippines pandemic’s cost to the economy is off workers or reduced the salaries The study said this amounted was one of the lowest among UStheir 50.4600 n JAPAN 0.4374in n n HK 6.4722billion n CHINA 7.9013 n countries SINGAPORE 36.8968and n SouthAUSTRALIA around P3 trillion to P4 trillion. As n of employees or both theUK 67.2329 to only P492.7 or an averin South of 2021, the country’s GDP in nomipast two years, Edillon said. age annual per capita of P1,554.3. east Asia with high stunting nal terms reached P19.4 trillion, This, the Neda official stressed, The amount only represents 7.9 prevalence. 99.4 percent of the P19.5-trillion is the reason the government must percent of total government exThe authors said the total inGDP in 2019. accelerate the economy’s recovery. penditures in 2017 to 2019. ternational aid for nutrition the “The thing to remember is that Nonetheless, Edillon said, the “Overall, NGA [national govcountry received between 2014 this GDP is more than a number. country is already on the mend ernment agencies] expenditures and 2018 amounted only to $3.7 GDP is really a measure of all the and is able to better manage the for nutrition are incoherent in million or $3 cents per capita. production of all the businesses and pandemic. that they fail to account for inSee “Phl,” A2 this means there were lots of busiSee “Pandemic,” A2

HE Sugar Regulatory Administration (SRA) on Monday stood pat on its proposal to import sugar, sounding the alarm that the country may grapple with a shortage and high prices of the sweetener by the third quarter. In a statement, SRA Administrator Hermenegildo R. Serafica explained that the country could face insufficient supply of sugar in the coming months as higher demand continues to outpace anemic production of the sweetener. Serafica pointed out that the lower sugar output this crop year 2021-2022, caused by weather problems, has contributed to the spike in sugar prices that have soared “to record highs and continue to go higher every week.” Serafica added that farmers are rushing to mill their canes to take advantage of the higher sugar prices, resulting in lesser tonnage and sugar content. This is also leading to an earlier end of the sugar milling season, he explained. The SRA administrator maintained that the agency’s assessment of the country’s sugar supply situprograms as President Duterte ation is sound, based on historical is expected to sign the industry and actual data. development plan in early 2022.

OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND PHL INVESTS UNDER-1% OF GDP HE pandemic has prevented

the Philippine economy from breaching the P20-trillion mark in terms of its nominal GDP, according to the National Economic and Development Authority (Neda).

PESO EXCHANGE RATES

PESO EXCHANGE RATES n US 51.5280

TO FIGHT STUNTING, SAYS PIDS

Rosales said the PCA will not stop updating its list of coconut farmers and enjoined them to register in order to reap the benefits of the decades-long idled coconut levy fund. “We will not stop at 3.1 million. We hope that more individuals will register in our coconut farmers registry,” he said. The updating of the coconut farmers registry is mandated by Republic Act (RA) 11524 or the Coconut Industry Trust Fund Act. See “3-M farmers,” A2

By Samuel P. Medenilla @sam_medenilla

NTER NATIONA L concerns over the possible spread of the more infectious Omicron Co“Can you imagine what will happen if vid-19 variant prompted the govthere is no sugar available in the local ernment to reimpose mandatory market for households, for food retailers facility-based quarantine for all and manufacturers? I would like to ask arriving passengers in the country. the detractors of importation: will they be Acting Presidential spokesperaccountable when we run out of sugar?” son Karlo B. Nograles announced —SRA Administrator Hermenegildo R. Serafica on Sunday that the Inter-Agency Task Force for the Management such and coupled with the of “As Emerging Infectious Diseases increase in demand for sugar due to (IATF) suspended the implementhe opening up of the economy, SRA tation of its Resolution No. 150has determined that thereimposing won’t be A (s.2021), effectively enough local production of sugar to stricter protocols for all inbound meet our domestic consumption in travelers. theTocoming months, particularly note, IATF Resolution 150June to allowed August,” he said. A had fully vaccinated Serafica lashed out the “denon-visa travelers fromatGreen List tractors” of the SRA’s sugar areas to enter the countryimporwithtation programs, daring them to be out the need for facility-based accountable should a sugar shortage quarantine as long as they secure occur in the upcoming months. negative Reverse Transcription“Can you imagine what will hapPolymerase Chain Reaction (RTpen if there is no sugar available in PCR) test within 72 hours prior the local market for households, for to their departure. food retailers manufacturers?” “Except forand countries classified he asked. as ‘Red,’ the testing and quarantine See “SRA,” A2 protocols for all inbound international travelers in all ports of entry shall comply with the testing and quarantine protocols for ‘Yellow’ list countries,” Nograles said, citing the provision of IATF Resolution No. 151-A. He noted Hong Kong, which has confirmed a case of the Omicron variant, will also fall under the Yellow list countries. The suspension of the rules for “Green List” countries will be in effect from November 28, 2021 to December 15, 2021. Continued on A2

36.2807 n EU 56.5758 n SAUDI ARABIA 13.4531

Source: BSP (November 26, 2021)

n JAPAN 0.4148 n UK 67.1667 n HK 6.5734 n CHINA 8.0963 n SINGAPORE 37.8298 n AUSTRALIA 38.4450 n EU 56.2222 n SAUDI ARABIA 13.7400

Source: BSP (April 11, 2022)

News

BusinessMirror

A2 Tuesday, April 12, 2022

Automatic exemption from gun ban for high-risk execs

By Samuel P. Medenilla

@sam_medenilla

O ensure the safety of highrisk government officials during the election period, the Commission on Elections has granted them “automatic” exemption from the ongoing gun ban.

In a press conference on Monday, Comelec Chairman Saidamen B. Pangarungan announced the Comelec en banc recalibrated the rules and regulations for gun ban under Comelec Resolution No. 10728. “With these approved Amendments, the Comelec aims to provide a faster and simpler process of availing exemptions to the gun ban without sacrificing the safeguards and security measures in place,” Pangarungan said.

List of exempted

UNDER the new guidelines, among those to be granted exemption are the Vice President, Senate President, Senators, Speaker and members of the House of Representatives, Chief Justice and Justices of the Supreme Court, Justices of the Court of Appeals, the Sandiganbayan and the Court of Tax Appeals; judges of the regional, municipal,

and metropolitan trial courts; cabinet secretaries, undersecretaries, and assistant secretaries; the Ombudsman, Deputy Ombudsman, and investigators and prosecutors of the Ombudsman. One or two members of the security detail of each of these officials will also be exempted from the gun ban. The exemption will also cover the prosecutor general, chief state prosecutor, state prosecutors, and prosecutors of the Department of Justice; and officials and agents of the National Bureau of Investigation; and Election Officers, Provincial Election Supervisors, and Regional Election Directors were also exempted from the election ban. “These officials need to feel secure in performing their duties, free from fear and pressure from others,” Pangarungan said.

He noted the President was no longer included in their list since his Presidential Security Group is already exempted from the ban. Also not specifically mentioned in the list, he said, is the Solicitor General, since he or she is already covered by the exemption for Cabinet secretaries.

Exemption requirements

AVAILERS of the “automatic” exemption must have a valid License to Own and Possess Firearms (LTOPF), Certificate of Firearms Registration (CFR), and valid Permit to Carry Firearms Outside of Residence (PTCFOR). They will also be limited to carrying a maximum of two firearms. Pangarungan said they must also submit to the Comelec Committee on the Ban of Firearms and Security Concerns the list of their firearms and qualified security detail no later than April 9, 2022.

Areas of concern

IN a related development, Pangarungan said the Comelec en banc also provided him with the authority to place areas under Comelec control. He said this will allow him to implement the necessary measure “in urgent and meritorious cases” without waiting for the weekly Comelec en banc meeting. The poll official assured the public he will not abuse such power,

which was previously limited to the discretion of the Comelec en banc. “I can assure you that the power will not be abused. It will be exercised sparingly, only on urgent and meritorious cases,” Pangarungan said. As of Monday, the Comelec had yet to place any area under its control.

UniTeam readies relief goods for ‘Agaton’ victims

RESIDENTIAL frontr u n n e r Fe rd i n a n d ‘Bongbong’ Marcos Jr., has activated the UniTeam’s relief operations team to immediately bring help to the victims of typhoon Agaton in the Visayas and Mindanao that has thus far affected 38,399 families from 106 different barangays in Region 10, 11, Caraga and BARMM in Muslim Mindanao. This developed as the UniTeam’s legal team said it is now readying necessary documents to secure an exemption from the Commission on Elections to make sure that the relief mission is compliant with the provisions of the Omnibus Election law. Flooding and heavy rainfall brought about by Tropical Storm Agaton in the Visayas and Mindanao resulted in at least three reported deaths so far in the Davao region. O ne p e r son h a s a l so been reported missing in Region 11. Marcos said that while he wanted to immediately send relief goods to the affected areas, he was constrained by existing election laws that prohibit those running for public office to hand over any forms= of help lest they be accused of vote buying. “I ask for understanding from our people because we could not rush assisance to them; our hands are tied because there are certain election-related laws,” Marcos said, mostly in Filipino. He assured those affected, though, that they will rush help as soon as possible once clearance is obtained. Flooding has also so far displaced 23,841 families with 3,228 families or 11,264 persons now staying at 52 evacuation centers. Meanwhile, Marcos appealed to his supporters in the affected areas to momentarily veer away from campaigning and instead shift to distribution of relief goods to affected families. Marcos was in Samar and Leyte last April 8 to 9 where he conducted hugely successful campaign sorties before the provinces were hit by the typhoon. The UniTeam in December also mounted a series of relief operations to help victims of Super Typhoon Odette in Butuan City, Dinagat Islands, Cebu, and Southern Leyte. The UniTeam relief operations, which reached eight provinces from December 19 to 20, delivered millions worth of construction materials for the repair of damaged houses and several thousands of bags of rice intended for distribution to the typhoon victims.

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SRA...

Continued from A1

“I would like to ask the detractors of importation: will they be accountable when we run out of sugar?” he added. Without naming names, Serafica lamented that the issue on sugar importation has become “very political” because of the “stoking” of people, who only consider their “self interests.”

Not midnight deal

SERAFICA also dismissed claims that the proposed 350,000-metric ton (MT) sugar importation is a “midnight deal” or a “sweet deal,” claiming that the proposal was aimed at ensuring the country’s food security. “There is no midnight deal or sweet deal, I will always do what I believe is right for the greater good. As the government agency regulating sugar supply, SRA has a mandate to ensure food security,” he said. “What the detractors of importation have failed to consider is the issue on food security, in particular, the availability of supply and the issue on affordability of sugar,” he added. The BusinessMirror broke the story last week that the country is mulling over importing 350,000 MT of sugar to plug the

PHL...

Continued from A1

I n compa r i son, t he st udy showed that countries like Indonesia, which has a similar stunting prevalence and a higher GDP per capita than the Philippines, received $92 million or $34 cents per capita. Majority of nutrition-related expenditures were for nutritionsensitive activities accounting for 95.28 percent, followed by specific activities at 3.87 percent with the least for enabling interventions at 0.85 percent. Between 2017 and 2018, the research found that financing allocated for disease Prevention and Management, a nutrition-sensitive intervention, decreased by half to P4 billion. Specifically, the expenditures for the National Immunization Program decreased P1.2 billion and the Infectious Disease Program to P242 million. Maternal and Child Health expenditures under the Family Health Sub-program of DOH sharply declined to P25 million (2017-2018)

Pandemic... According to Edillon, there is currently a need to boost confidence in the economy, noting that even if case loads are low in the National Capital Region, many businesses are still operating below 100 percent onsite. “We are on the mend, we have successfully managed Covid-19 although we are still very cautious and we are prepared to take on any eventuality with respect to the Covid-19,” Edillon said. “We are really working towards building the resiliency of the country.”

Growth goal

shortfall in domestic supply and arrest skyrocketing prices of the sweetener. The SRA plans to open an importation program of 250,000 MT refined sugar and 100,000 MT raw sugar, based on a draft SRA Sugar Order obtained by this newspaper. (Related story: https://IH.com. ph/2022/04/07/phl-eyeing-importation-of-350k-mt-of-sugar/) Last week, Sen. Imee R. Marcos slammed the proposed importation program by the SRA, calling it a “midnight deal.” Marcos urged Agriculture Secretary William D. Dar, who chairs the SRA board, not to sign the SO formalizing the importation. The United Sugar Producers Federation also called the proposed sugar importation a “midnight deal” that would “greatly benefit the industrial users, particularly the bottling companies.” Latest SRA data showed the average wholesale price of 50-kilogram bag raw sugar as of April 1 is now at P2,266.15, while wholesale price of refined sugar has reached an unprecedented P3,084.23 per 50-kilogram bag. SRA data also showed that the average retail price of raw sugar is now at P51.43 per kilogram while refined sugar is at P68.14 per kilogram.

THE impact of the pandemic, she said, has prompted the government to aim to grow the economy by 7 to 9 percent this year and 6 to 7 percent in 2023 and 2024. These targets will not only help the economy recover to its prepandemic form and sustain the growth but also attain the AmBisyon 2040 when Filipinos are able to have a matatag, maginhawa, panatag na buhay [stable, prosperous and peacefule life]. “The bottomline is actually the kind of life that we want,” Edillon said. “Filipino families live together. There’s work-life balance so there is time to spend with family,

but since then increased to P627 million in 2019. “ We h ave i nve s t me nt s i n households, mothers, treatment options when a child is already malnourished, and supplementary feeding after children are irreversibly stunted—but we do not have visible investments in the first 1000 days of life which is crucial to prevent stunting,” the researchers said. The Department of Social Welfare and Development (DSWD) accounted for the largest share at 61 percent or P293 billion. In terms of budget execution efficiency, the researchers found that for all nutrition expenditures across agencies, the absorption remained steady from 2017-2019 at 73 percent. Unfortunately, the data showed that the Department of Health (DOH) had one of the lowest absorptions at less than 38 percent next to nutrition-sensitive interventions of the Department of Education at 11 percent.

Continued from A1

even for members who work on weekends. [They want to] enjoy time together in parks and recreational centers. And they live in a high trust society with a strong sense of community.” Efforts to build confidence include ensuring that businesses and services continue by adopting risk-informed guidelines as well as harmonizing and streamlining travel protocols. T he government, she said, must also conduct a needs assessment to immediately formulate the catch-up plan as well as mobilize government resources. She added that there is also a need to undergo digital transformation to make the country more resilient to shocks. This means the country needs to invest in digital infrastructure, improve digital literacy in the government, among businesses and citizens. This will contribute to the government’s efforts in addressing future threats. The Neda, the Department of Health, and the University of the Philippines National Institutes for Health are working toward the creation of a Pandemic Response Playbook in order to guide efforts in the event of another pandemic.

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SC clears ex-FG Mike Arroyo in ₧105-million chopper deal By Joel R. San Juan @jrsanjuan1573

HE Supreme Court has exonerated former First Gentleman Jose Miguel “Mike” Arroyo of any criminal liability in connection with the procurement of helicopters in 2009 amounting to P105 million. In a 19-page resolution, the Court’s Special Third Division reversed its previous ruling issued on January 27, 2020, which upheld an Office of the Ombudsman resolution issued in 2013, which found probable cause to indict him for violation of Section 3 (e) of Republic Act 3019 or the Anti-Graft and Corrupt Practices Act. The information filed by the Ombudsman before the Sandiganbayan alleged that the sale of the two preowned helicopters, purportedly owned by Arroyo caused undue injury to the Philippine National Police and the government in the amount of P34.6 million. Aside from Arroyo, also named respondents in the complaint were his late brother Ignacio “Iggy” Arroyo, Manila Aerospace Products Trading Corporation (MAPTRA) President Hilario “Larry” De Vera, and some former officials of the Philippine National Police (PNP). “Here, a careful scrutiny of all the evidence the prosecution submitted to establish the existence of probable cause against Arroyo reveals that no evidence of the prosecution demonstrated the manner by which Arroyo connived with any public officer in the purported anomalous procurement,” the Court said. “Even if the unverified statements of the prosecution’s witnesses are admitted, these still fail to show how Arroyo connived with any public officer,” it added. The case stemmed from the PNP’s purchase from MAPTRA of one fully equipped Robinson R44 Raven II Light Police Operational Helicopter (LPOH) for P42,312,913.10 and two standard Robinson R44 Raven I LPOHs for P62,672,086.90, or for a total amount of P104,985,000.00 from 2009 to 2010. An investigation conducted by the Ombudsman with regard to the procurement showed that the helicopters that were subject of the procurement were not brand new contrary to the requirement of the PNP procurement. The probe also showed that two of the three delivered Robinson Raven I LPOHs were actually pre-owned by former First Gentleman Atty. Jose Miguel “Mike” Arroyo. Arroyo, however, denied the allegations against him and insisted that he has no connection with MAPTRA. He explained that it was Lourdes T. Arroyo Incorporated (LTA), through its president and brother, the late Ignacio “Iggy” Arroyo, who transacted with Archibald L. Po, owner of Lionair Inc. (Lionair) and Asian Spirit Inc. (Asian Spirit) for the advancement of money so that Po’s Lionair could acquire five helicopters from its manufacturer Robinsons Helicopter Co. (RHC). He added that he had divested from LTA long before the purchase of the helicopters from RHC.

In finding probable cause, the Ombudsman (OMB) was not convinced that Arroyo had already divested himself of any interest in LTA before the procurement of the helicopters. On May 27, 2013, Arroyo filed with the Sandiganbayan a motion for judicial determination of probable cause, seeking the dismissal of the case on the ground of lack of probable cause. But in a resolution dated August 15, 2013, the Sandiganbayan denied Arroyo’s motion. It held that the prosecution’s evidence sufficiently showed that there is probable cause that Arroyo participated in the transaction. On January 27, 2020, the Court issued a decision dismissing Arroyo’s petition seeking to nullify the Ombudsman’s resolution indicting him for graft, citing judicial policy of non-interference with the discretion of the Ombudsman with regard to determination of probable cause. It also declared that the petition hadbeenrenderedmootandacademic since the Sandiganbayan had already judicially determined that there is probable cause to proceed with trial.

SC reverses decision

THE Court, however, reversed its decision saying that Arroyo’s motion for reconsideration is “meritorious” and that the Ombudsman and Sandiganbayan committed grave abuse of discretion in finding probable cause to indict and proceed with Arroyo’s trial for graft. “The evidence the prosecution adduced to substantiate its claim of conspiracy is insufficient to maintain a reasonable belief that Arroyo is probably guilty of violating Section 3[e] of RA 3019. The element of conspiracy with a public officer was not established,” the SC pointed out. The SC held that the evidence gathered by the Ombudsman during its preliminary investigation failed to substantiate and show how Arroyo conspired with the other accused public officers, which is an essential element in prosecuting a private individual of violating Section 3 (e) of RA 3019. “The Court is mindful that it is not a trier of facts and that the calibration of evidence to determine whether there is probable cause to pursue a case against Arroyo necessarily involves questions of fact that cannot be entertained in a petition for certiorari,” the SC explained. “Nevertheless, after a judicial review of the case, the Court finds that the OMB has grossly misappreciated the attendant and clear facts in a manner that is tantamount to grave abuse of discretion amounting to lack or excess of jurisdiction,” it added. The SC noted that even the testimony of de Vera, who admitted not personally knowing Arroyo, supports the conclusion that Arroyo is not connected to MAPTRA. Furthermore, the SC said the Sandiganbayan should have gone beyond the resolution of the Ombudsman to determine the existence of any link that would connect Arroyo’s participation in the procurement in conspiracy with any of the respondents and not just assume that LTA and Arroyo are one and the same.

Off-season storm ‘Agaton’ kills three in Davao Oriental, forces thousands of families to flee A

T least three people were reported killed following the onslaught of off-season Storm Agaton, which dissipated into a tropical depression on Monday morning after lashing the Visayas and parts of Mindanao with heavy rains that caused flooding and landslides. The casualties were recorded in Monkayo, Davao de Oro and Cateel, Davao Oriental, according to the National Disaster Risk Reduction and Management Council (NDRRMC), which also reported that thousands of evacuated families remained in government-run shelters. Agaton triggered flooding in 195 areas in Regions 6, 7, 8, 10, 11 and 12, and in Caraga and Bangsamoro Autonomous Region in Muslim Mindanao, although waters have begun to recede in some areas, while power outages were reported in at least 11 cities and municipalities. The NDRRMC said more than 50 houses and at least 251 hectares of agricultural crops were also damaged, but figures could still increase as officials conduct post-typhoon assessments. In Sulu, Marine forces rescued nine passengers of a boat that capsized in the waters of Barangay Tandu Bato, Luuk, Sulu on Sunday as the storm pummeled Visayas and Mindanao. Joint Task Force Sulu commander Maj. Gen. Ignatius Patrimonio said the passengers—two adults and minors—were rescued by elements of the 4th Marine Brigade after a fisherman reported the incident. The boat, which was overloaded, sank after it was battered by huge waves and strong current as it headed toward Sitio Taindi, Barangay Kan Mindus, Luuk, Sulu. At the Philippine National Police, Brig. Gen Roderick Augustus Balba said policemen were deployed

FAMILIES affected by flooding due to Tropical Depression “Agaton” are rescued in Barangay Tabunan, Lemery, Iloilo, on Monday, April 11, 2022. Agaton has brought heavy rains to portions of Western Visayas causing flooding and landslides. PNA PHOTO COURTESY OF JEROME MARAPO

and are helping in disaster operations in the affected areas while additional rescue teams have also been placed on standby. “Policemen were deployed in affected areas and even in barangays threatened by Agaton. Police authorities have been working with the LGUs and other agencies for the evacuations,” said Balba, who is the chief of the public information office.

Telco disruption

GLOBE Telecom Inc., meanwhile, reported service interruptions in several Visayan towns due to power failure, amid the tropical depression. In an advisory, Globe said call and text service outages were reported in 24 towns in Leyte, 16 in Southern Leyte, 10 in Bohol and 4

ELCAC) Vice Chairman Hermogenes Esperon Jr., in a news statement, said President Duterte will visit the Caraga Region today, Tuesday, to receive reports about the peace and order situation in the region as well as update on the progress of BDP. Earlier, Esperon estimated 5.2 million Filipinos are expected to benefit from the BDP for 2021 and 2022. On the status of the BDP in Caraga Region, about 191 barangays were provided with different projects that include 359 infrastructure and noninfrastructurepriorityprojectsin2021.

in Cebu. Data connection interruptions, meanwhile, were reported in 24 towns in Leyte, 15 in Southern Leyte, 10 in Bohol, and 2 in Cebu. Globe noted that it is also readying its Libreng Tawag and Libreng Charging stations in storm-hit areas as soon as it is safe to do so. Smart Communications Inc. and parent firm PLDT Inc., meanwhile, have yet to provide the media with a network report. However, as early as Sunday, they have “prepositioned personnel and mission-critical equipment including emergency generators in the Visayas and Mindanao.” Since Sunday, PLDT group’s Libreng Tawag, Libreng Charging stations have been on standby, ready to be deployed in areas that will be heavily impacted by the tropical cyclone.

Power restoration efforts under way

THE National Grid Corporation of the Philippines (NGCP) has restored one transmission line affected by Agaton, but three more were rendered inoperational as of late Monday afternoon. The grid operator said the Ormoc-Baybay 69kV (kilovolt) line was restored at 2:51 p.m. Electricity was thus restored to customers of Leyte Electric Cooperative (LEYECO) IV and V. However, the Ormoc-Maasin 138kV Lines 1 and 2, Maasin-Baybay 69kV Line, and Maasin-Ubay 138kV Line remain damaged since early Tuesday morning. Customers of Bohol Electric Cooperatives (BOHECO), Bohol Light Company (BLCI), and LEYECO were affected, the NGCP said. Rene Acosta, Lorenz S. Marasigan and Lenie Lectura

There will be passers, flunkers: SC Senator reminds MMDA to consider to release Bar Exams results today economic impact of modified coding

HE Supreme Court is expected to release the results of the 2020/2021 Bar Examinations today, Tuesday, which were held in various locations nationwide last February 4 and 6, 2022. The SC en banc approved the release upon the recommendation of Associate Justice Marvic M.V.F. Leonen, chairman of the 2020/21 Committee on Bar Examinations. Justice Leonen will make the formal announcement of the Bar results on the fate of the more than 11,000 law graduates who took the exams. A video wall will also be placed in the New Supreme Court Building courtyard to show the list of successful Bar examinees. The same list will, likewise, be posted at the SC web site http:// sc.judiciary.gov.ph/, the official web site of the Supreme Court of

the Philippines, and its designated mirror sites. Meanwhile, the in-person oath taking of the successful Bar examinees is scheduled on May 2, 2022. L eonen ea rl ier a nnou nced that there were approximately 219 Bar examinees who were unable to take the Bar examinations after having tested positive for Covid-19. There were also a number of examinees that were disqualified to take the Bar Examinations for violating the clearly published policies of the Office of the Bar Chairperson and their Honor Code. Among the violations committed by some Bar takers were failure to disclose that they had previously tested positive for Covid-19, smuggling of mobile phones inside the examination rooms and accessing social media during lunch break inside the premises. Joel R. San Juan

NSC chief bares neutralization of 37 high-ranking communist officials, weakening of 2 guerrilla fronts

ITH the neutralization of 37 high-ranking officials of the Communist Terrorist Group (CTG) and two guerilla fronts (GF) significantly weakened, the chief of the National Security Council on Monday expressed confidence that more areas can now be covered under the Congress-approved Barangay Development Program (BDP) before the end of the Duterte administration. National Security Council Secretary and National Task Force and Regional Task Force to End Local Communist Armed Conflict (NTF-

Editor: Vittorio V. Vitug • Tuesday, April 12, 2022 A3

For this year, another 94 barangays were added as recipients of BDP in the region. They are from Butuan City (three); Agusan del Norte (eight); Agusan del Sur (45); Surigao del Norte (20) and Surigao del Sur (18). Duterte is the chairman of the NTF-ELCAC and the BDP is the flagship project of his administration. Moreover, Esperon said the law enforcement agencies of the government were successful in neutralizing 978 New People’s Army (NPA) regulars and seized 290 firearms. In 2016, he said there are a total

of 11 GFs in Region 13, saying three of these were completely dismantled while two are significantly weakened, the remaining six are in the process of clearing by security forces. “I wish to highlight the neutralization of 37 high-ranking officials of the Communist Terrorist Group in the region,” Esperon said. Another significant accomplishment of the RTF-13 was the closure of Alternative Learning Center for Agriculture and Livelihood Development and Tribal Filipino Program in Surigao del Sur, he said. Jovee Marie N. Dela Cruz

By Butch Fernandez

@butchfBM

EN. Joel Villanueva, citing the worsening traffic situation in the metropolis, prodded the Metropolitan Manila Development Authority (MMDA) to consider the economic impact of a modified coding scheme. “The MMDA should ensure that the proposed modified Unified Vehicle Volume Reduction Program [UVVRP] or number coding scheme could address the economic cost of congested Metro Manila traffic under Alert Level 1,” the senator said after the MMDA posted on Facebook its proposals to modify the traffic coding scheme for Metro Manila on April 9. Noting that the MMDA’s social media post also asked the public to weigh in on the proposal, Villanueva reminded that people simply “want to go back to work as we are reopening the economy.” The senator suggested in a news statement issued on Monday the MMDA should “make it clear” that the modified coding scheme won’t be at the detriment of commuting workers and economic rejuvenation. He conveyed concerns that traffic congestion does “have adverse effects on the economy and the lives of everyone on the road,” suggesting that “MMDA should study if the 20 percent, 40 percent, or 50 percent volume reduction of vehicles in Metro Manila has a net positive impact for the economy.” The senator acknowledged that while MMDA said it consulted local governments and transport groups on the proposed modified plan to solve traffic in Metro Manila, “the

agency should make sure the proposals heed the recommendations of the economic managers on what would be the proposals’ effects for businesses and workers.” Moreover, Villanueva asserted that the proposed modified scheme should go hand in hand with an improved public transportation system, noting that better public transportation services and alternatives should be offered “if we are to reduce traffic congestion,” asking: “Para saan pa ang masulusyonan natin ang traffic pero wala namang masakyan ang mga tao?” At the same time, the senator reminded business and government to fully implement the “Telecommuting” or Work From Home Law, especially in areas clogged by severe traffic congestion, adding, “Until we can find a clear solution to our traffic and transport problem, alternative working arrangements remain viable options for workers and businesses.” Citing Republic Act 11165, known as the Telecommuting Act or the Work From Home Law that Sen. Villanueva authored and sponsored, empowering employers to offer alternative work arrangement options to their employees, the senator affirmed that the law allows both employers and employees to mutually agree on terms and conditions for the alternative working arrangement, which shall not be less than the minimum labor standards set by law. Ruing that “a lot of time is being wasted because of traffic,” the senator noted that “instead of our workers being productive, they are stuck for two to three hours or more every day on the road just to get to work and back home.”

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A4 Tuesday, April 12, 2022 • Editor: Vittorio V. Vitug

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Job generation, low prices: Solon outlines ‘last lap focus’ for outgoing Duterte admin

By Jovee Marie N. Dela Cruz

3 approaches

@joveemarie

MEANWHILE, Salceda proposed a three-pronged approach to creating stable jobs in the agriculture sector while also reducing food prices for the average consumer. “First, we need to make sure our defensive strategies are strong. We have to defend from existing threats, such as ASF and avian flu, expedite the introduction of hybrid rice seeds especially in typhoon areas, and accelerate the rollout of training and other programs on biosafety, natural and artificial pest control, and more climate-resilient farming. We also have to take measures to ensure that irrigation will be adequate during this year’s dry season,” he said. “Second, we need higher value in crops that are labor-intensive. That will create new jobs and new sources of income. That’s coffee, cacao, abaca, and heirloom varieties of rice and other cereals. These crops pay the farmer very well, if successfully harvested, and they tend to need more manpower. My problem with mechanization in rice, corn, and other crops, is that while we have successfully increased yield, on the ground, we

HE co-chairman of the Economic Recovery Cluster of the House of Representatives on Monday said stable jobs and low prices should be “last lap focus” of the Duterte administration.

Even if the economy recovers to pre-pandemic levels, Albay Rep. Joey Sarte Salceda said unstable income and high prices could still lead to high poverty this year. “ W hile March employ ment numbers showed an increase of about 2 million new jobs, most of these jobs are still rather weak and impermanent,” said the Albay lawmaker. “The formula for poverty reduction is simple: stable jobs plus low prices equals low poverty. The mark of real, genuine economic recovery is if we can reduce poverty levels to pre-pandemic rates, and recover the momentum reached on reducing poverty further,” the economist-

lawmaker said. The House leader said the government particularly has to look at agriculture, where most jobs are “part-time.” “3.7 million out of the 7.2 million workers in the agriculture sector are part-time. So, they’re probably not earning enough,” Salceda said, citing March figures. “I would strongly advise President Duterte and his team to focus on agricultural jobs and farmer income, as well as stable and cheap food production, in the final lap of his term. That’s the area where we will get the most socioeconomic returns,” Salceda added.

2 landmark legislations on EVs and SIM card registration expected to be signed into law soon

WO landmark legislations, the bill providing for a national energy policy and regulatory framework for the use of electric vehicles (EVs), and the establishment of electric charging stations and the proposed SIM Card Registration Act, are expected to be signed into law soon. The enrolled copies of the bills on the Electric Vehicle Industry Development Act and the mandatory registration of all subscriber identity module (SIM) cards were transmitted to Malacañang last March 15 and 17, respectively, for the President’s signing. “Malaking tulong para sa mga awtoridad na mapabilis ang paglutas ng mga krimen o magkaroon ng pagkakakilanlan ang mga kriminal kapag batas na ang pagpaparehistro ng mga SIM card,” said Sen. Sherwin T. Gatchalian, co-author in the Senate and proponent of the measure since the time he was still a congressman. The reelectionist senator noted the continuing prevalence of text scams, unsolicited text messages or those offering non-existent or dubious jobs, smishing, and similar activities. “Initially, when I first filed the SIM card registration bill in the House of Representatives in 2013, it was aimed at addressing terrorism and criminal acts of syndicates. But over a period of time, the anonymity in the use of SIM cards has allowed those engaged in nefarious activities untraceable by law enforcers,” Gatchalian said. Aside from addressing criminal activities, the legislation of SIM card registration will establish a system for a more secure digital transaction, reduce fraud, provide greater consumer access to e-government services, and create opportunities for mobile e-commerce, he explained. Meanwhile, the lawmaker’s proposed Electric Vehicle Industry Development Act will require the establishment of designated parking slots and charging points for EVs to help kick-start the promotion and adoption of EVs in the country.

are seeing signs of labor displacement, especially seasonal labor,” Salceda added. Third, Salceda said the government should promote agri-entrepreneurship so that farmers can take care of a business side of things when they are done with cropping. “That means food preservation facilities and training, packaging, and other value-adding processes,” he said.

New mindset

ACCORDING to Salceda, the country’s agri-infrastructure program may require a “mindset shift” from farm-to-market to “farm-to-process.” “Let’s face it. There’s something missing in our farm-to-market inclination in agri-infra. The crucial missing link is processing, especially for food surplus. That means building new food processing and cold storage facilities and the roads to those facilities. That will also mean building new food terminals. That will even involve cyber infra that would allow farmers to sell and negotiate their goods online,” Salceda said. “We have already made moves to that end, as the Agri-Agra

Credit amendments are about to be enacted into law. I am particularly hopeful that it will increase private lending to value-added in agriculture. But the public sector needs to increase outlays in agri value-added as well,” said the lawmaker. He said what President Duterte’s team can do towards this paradigm is to ensure that Agri-Agra credit reform is enacted within his term. The proposed Agri-Agra Reform Credit Act requires banks to allocate 25 percent of their loanable funds to the agriculture sector. “[Agriculture] Secretary [Willian] Dar is able to generate a comprehensive report on the problems in agri value chains, and the DA [Department of Agriculture] and the DPWH [Department of Public Works and Highways] are able to map out how to link farms to processing facilities, for the next administration’s reference,” Salceda said. “I hope to play a key role in that area by talking with the DA and the DPWH on the matter. Farm-to-process is the future of Philippine agriculture. It is what will build quality jobs and generate cheap food for our people,” he added.

DAR’s SPLIT program bolsters LGU real property tax take in Casiguran, Sorsogon By Jonathan L. Mayuga @jonlmayuga

PROGRAM to subdivide the collective certificates of land ownership awards or CLOAs distributed under the Comprehensive Agrarian Reform Program (CARP) encourages timely payment of real property taxes. This was disclosed on Monday by officials of the Department of Agrarian Reform (DAR) in the province of Sorsogon, following the distribution of individual computerized land titles or C-titles in the area. It was learned that in Casiguran, Sorsogon, 34 agrarian reform beneficiaries have recent paid their realty taxes. Francisco Lariosa, revenue collection officer of the Casiguran Municipal Treasurer’s Office also confirmed the positive effect of subdividing the CCLOAs, saying they have so far collected a total of P209,670 in land taxes from said agrarian reform beneficiaries (ARB) this month. Lariosa stated that the tax payments had boosted the LGU’s own-source revenue. The treasurer’s office is still expecting payments from farmer beneficiaries who have not yet paid real property taxes on their farms. “With DAR’s help, our efforts to improve tax collection will be effective only if we can win the cooperation of our farmers by assuring them that their hard-earned money is being spent effi-

ciently,” he added. Lariosa urged other farmer-beneficiaries to comply with their tax obligations as well. “If you already have DARissued Emancipation Patents [EPs] or Certificates of Landownership Award [CLOAs], he said, you should visit the local treasurer’s office where your land is situated and pay your taxes on time to avoid additional fines.” Sorsogon agrarian reform chief Nida A. Santiago said the ARBs are among the 46 beneficiaries of the 55.4466-hectare agricultural land formerly owned by Augorio Martires and Carmen Manabat in the villages of Mabini and Timbayog. The said property is one of the 84 targeted landholdings, with collective titles from 13 municipalities being divided up among recipients individually under DAR’s Support to Parcelization of Lands for Individual Titling (SPLIT) Project. SPLIT project subdivides CCLOAs into individual titles to be re-awarded to beneficiaries who are co-owners of a landholding. Sorsogon intends to subdivide 8,461.1331 hectares by 2023, ensuring that each ARB has its own land title. According to Santiago, SPLIT project provided the ARBs with property documents that clearly show their absolute ownership, which they can use to access markets, programs, and incentives that will enable them to improve farm pro-

ductivity, thus increasing their incomes. Santiago said that parceling collective CLOAs will not only address the issues causing the insecurity of the ARB’s property rights in their awarded lands, but will also help local government units collect new taxes. “Tax compliance is a trademark of ownership. As the lead CARP implementer, we are tasked with enforcing farmers’ compliance with their rights and obligations as new owners of the government-acquired property.” “We believe that payment of the real property tax by CARP beneficiaries to LGUs shall commence from the time the DAR awards the lands to them.” This is clear under Section 24 of RA 6657,” she said. She added that farmlands are assessed based on their ability to produce income (its agricultural economic value). Meanwhile, Casiguran municipal agrarian reform officer Mariam G. Jamoralin helped farmers pay their taxes and get tax declarations of real property by connecting them directly to the municipal treasurer and assessor offices. “The municipal assessor must have a receipt attesting to the payment and updating of real property tax before issuing tax declarations. And that’s why we initiated a pulong-pulong to inform them of their responsibilities,” Jamoralin explained.

Farmers urged to practice balanced land fertilization for better economy and yield By Jasper Emmanuel Y. Arcalas @jearcalas

HE Philippine Rice Research Institute (PhilRice) urged Filipino palay

farmers to practice balance fertilization as incorporating organic fertilizer, such as rice straws, would allow them to save as much as P4,000. In a news statement, PhilRice said their nutrient experts have discovered that rice farmers could save P2,000 to P4,000 if they will complement inorganic fertilizer application with organic ones. Wilfredo B. Collado, a nutrient management expert from PhilRice, said rice farmers must “maximize the benefits of natural sources of nutrients” in terms of productivity and economic opportunities.

“One hundred cavans of palay [5 metric ton-yield] produces 5 metric tons of rice straw. If this is incorporated into the soil and decomposed, it can produce 30 kilogram [nitrogen], which is equivalent to 1.3 bags [65 kilograms] of urea,” Collado said. PhilRice said it has been promoting balanced fertilization among rice farmers since it started its campaign titled “Abonong swak (Swak sa budget, swak sa palay)” recently. The campaign, Philrice added, seeks to help farmers cut their fertilizer costs amid rising price of the commodity. “It is important for farmers to know the specific nutrients and the amount needed by their crop to avoid applying excessively or sparingly,” Collado said. “These can be identified through MinusOne Element Technique, Leaf Color Chart, Leaf Color Computing App, and Rice Crop Management Advisory Service,” he added. Latest Fertilizer and Pesticide Authority data showed that the average price of urea (prilled) is at P2,803 per 50-kilogram bag, more than double of its average quotation

last year of P1,104.24 per bag. “Aside from saving money, organic fertilizer application has a long-term benefit as it improves soil fertility,” Bureau of Soils and Water Management (BSWM) Assistant Director Gina P. Nilo said. PhilRice said around 500 on-site participants and 15,000 online viewers participated in their two-day Lakbay Palay last April 6 and 7 learned about the possible organic-inorganic fertilizer combinations based on their budget and target yields. The agriculture department has been aggressive in promoting balanced fertilization as one of the solutions to mitigate the impact of rising fertilizer prices on the country’s farm sector. Agriculture Secretary William D. Dar earlier said that the DA under its “Plant, Plant, Plant” Part 2 program would focus on the “execution of balanced fertilization strategy in food production areas, and include biofertilizers and bio-stimulants in the subsidy vouchers distributed to local farmers.”

Oil companies slash fuel pump prices anew By Lenie Lectura

@llectura

NOTHER oil price rollback takes effect this week. Oil firms announced Monday a P1 per liter price reduction for gasoline, P0.35 per liter for diesel, and P3 per liter for kerosene. The third oil price rollback for the year takes effect Tuesday morning, April 12. Seaoil, PTT, Shell, Petron, Caltex, Total, Unioil, and Phoenix will implement their price rollback at 6 a.m. For Cleanfuel, the price reduction takes effect at 8:01 a.m. Other oil firms have yet to announce as of press time. Last week, gasoline price was reduced by P2.30 per liter, diesel by P1.85 per liter and kerosene by P1.65 per liter. These resulted in the year-to-date adjustments to stand at a net increase of P16/liter for gasoline, P26/liter for diesel and P24.10/liter for kerosene. Oil firms adjust their pump prices every week to reflect movements in the world oil market. Asian oil price benchmark Dubai crude has declined after membernations of the International Energy Agency announced the release of 60 million barrels over the next six months.

Group bats for bigger CSO role in budget prep process

AVAO CITY—Social Watch Philippines (SWP) has called on the Senate to allow wider participation of civil society organizations (CSO) in the budget process and adopt the amendments proposed by the CSOs. Two separate bills have been filed in Congress, House Bill 7407 and Senate Bill 24. The house bill has been approved on third reading. A technical working group meeting last week on the Senate Committee on Electoral Reforms and People’s Participation, the SWP said, raised the need for simplified accreditation requirements for all nongovernment organizations (NGOs), CSOs, and people’s organizations (POs). “Based on the third reading version of House Bill 7407, we still believe that the scope is quite restrictive as the bill does not allow for the optimal participation of CSOs and individuals,” SWP said. It said it also asked the committee “to advance child participation in the bill by including representatives from the children’s sector in the eligible groups or individuals to participate in the budget process.” It did not elaborate however, on how children should be allowed in a budget process. While it commented on the House bill as still restrictive, it commended the bill for incorporating a penalty provision for non-recognition of legitimate CSOs and POs. “This will be crucial for the effective enforcement of people’s participation in the budget process,” it said. “We humbly request the Senate to adopt the same penal provision for its version of the bill,” SWP said in a manifestation before the committee. The SWP said it has been advocating since 2006 for the passage of a law on people’s participation in the budget process. It said there would be another technical working group meeting on April 27, “where the rest of the components of the SWP position on simpler accreditation procedures, wider extent of participation, timely access to relevant documents and invitations to budget deliberations, including the bicameral conference meetings, and provision for trainings and shouldering cost of participation will be put forward before the Committee.” Manuel T. Cayon

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ADB expert pushes full PWD access to fintech By Cai U. Ordinario @caiordinario

ER SONS w ith disabilit y (PWDs) need greater access to financial technology or fintech to bring down their regular expenses and gain greater control over their finances, according to an expert from the Asian Development Bank (ADB). In an Asian Development Blog, ADB Sustainable Development and Climate Change Department Principal Financial Sector Specialist Arup Kumar Chatterjee said there is a wide gap when it comes to the access of PWDs to fintech. Chatterjee said visual and auditory disabilities, among others, are not only limited to blindness and hearing loss. With this, he said people suffering these “invisible” disabilities are not as vocal about their difficulties. “One in six people live with a disability in our world today. These individuals suffer a range of auditory, cognitive, physical, speech, and visual disorders that can hinder access to financial services,” Chatterjee said. “The invisibility of most disabilities makes addressing financial inclusion for these people challenging since many choose not to be open about their difficulties,” he added. Visual disabilities, Chatterjee said, are not only due to mild to severe vision loss in one or both eyes. People who suffer from color blind-

ness could also lead them to have lower or complete lack of sensitivity to specific colors. The ADB expert said auditory disabilities include partial hearing loss or hearing impairment in one or both ears, which will also affect their access to financial services. He added that other disabilities such as cognitive, learning and neurological disabilities could range from mild reading-related disabilities to severe impairments. Physical disabilities, Chatterjee said, can include paralysis, arthritis, poor coordination, tremors, and missing limbs, which could also prevent them from accessing financial services. Chatterjee said fintech innovations have the potential to expand access to finance for many of these people, especially those living in Asia. In countries like Australia, Canada, the United States, and the United Kingdom, financial service firms could open themselves to lawsuits if their products are not accessible to PWDs. “Financial institutions and fintech companies need to ensure that disabled customers can access the same financial services that non-disabled people can. They, therefore, need to have a sound understanding of the unique needs of people with disabilities and barriers to technology accessibility,” said Chatterjee.

Solon urges Comelec to resolve ‘disorganized’ overseas voting

PARTY-LIST lawmaker on Monday asked the Commission on Elections (Comelec) to look into the “disorganized” voting system in Hong Kong. Bayan Muna Rep. Ferdinand Gaite said the government should not allow the potential massive disenfranchisement of overseas voters due to the “ineptitude and lack of proper organizing by these officials.” “If they were aware of the ‘capacity limit’ of the venue beforehand, should they not have planned for that?” Did they not think of requesting for at least 10 VCMs [vote counting machines] similar to 2019 so as to quicken the voting process and lessen long queues, scheduling voters, extended hours during weekdays, among others?” said Gaite. Around 1.7 million Filipinos voters abroad are expected to participate in the month-long activity, which started last April 10 and will end on May 9, 2022. For her part, Deputy Speaker Loren Legarda said overseas Filipinos should take advantage of the opportunity to elect their next leaders, and to choose wisely. Legarda said the Department of Foreign Affairs should see to it that registered overseas Filipino voters are adequately assisted as they cast their votes in Philippine embassies and consulates worldwide. “I trust that our embassies and consulates worldwide will provide adequate assistance to almost 1.7 million registered Filipino overseas to ensure that the voting process will go smoothly. Let us help our ‘kababayan’ overseas as they exercise their right to take part in electing the leaders who they think will give them and their family the service and protection that they needed,” Legarda said. Earlier, Comelec said logistical difficulties delayed the start of the overseas voting in six Philippine posts. The Comelec-Office for Overseas Voting (OFOV) said the issue affected the Philippine embassies in Wellington, New Zealand; Islamabad, Pakistan; and Dili Timor-Leste. Also covered by the delays are the Philippine consulates in Shanghai, China; Milan, Italy; and New York,

United States of America. Last week, Comelec already announced that it would be deferring overseas absentee voting in Shanghai due to the ongoing Covid-19 lockdown imposed by the Chinese government in the city. The poll body also said there will be delays in the voting in the Philippine posts in Baghdad, Tripoli, and Warsaw, Poland.

Sen. Imee: Extend OFW voting hours

SEN. Imee Marcos has called for extended office hours at Philippine embassies and consulates to ensure that OFWs can cast their votes in this year’s national elections. Marcos, who chairs the Senate Committee on Electoral Reforms and People’s Participation, warned that setbacks reported on the first day of voting in Hong Kong, the United States, Italy, and New Zealand may be replicated in other areas where large OFW populations are located. “Let’s not wait for a last-minute scramble to implement remedies. Thousands of OFWs will end up being disenfranchised,” Marcos said. “The immediate solution is to extend voting hours at our embassies and consulates, while the logistical challenges of setting up more voting precincts still have to be sorted out by the Comelec,” she added. Marcos pointed out that government offices abroad did not have consistent voting hours, with some ending mid-afternoon and others extending into the night. Long lines, the delayed shipment of election paraphernalia, and unreceived mail-in ballots are preventing many OFWs from voting. Complaints reaching Marcos’s office from Saudi Arabia and the United Kingdom also revealed that some OFWs still did not know where to vote or that the deadline for voter registration was already over. “The Comelec and DFA must review the math of accommodating OFWs in different areas daily and within the one-month voting period allotted. It’s also not too late to ramp up an information campaign so that OFWs know their precinct assignments,” Marcos said. Jovee Marie N. Dela Cruz and Butch Fernandez

Tuesday, April 12, 2022 A5

Tolentino to Duterte: Spare OFWs from ‘exploitative’ e-sabong habit

Recalling a Senate hearing on esabong last March, Tolentino pointed out the central bank allowed e-sabong features in wallet services, even as it had no legal basis, such as a legal opinion from the Department of Justice allowing the Philippine Amusement and Gaming Corporation to issue a license for e-sabong.

No more than cash gateways in betting

PNA FILE PHOTO

By Butch Fernandez @butchfBM & Lorenz S. Marasigan @lorenzmarasigan

DMINISTRATION Sen. Francis Tolentino alerted the Duterte administration to act quickly to protect overseas Filipino workers (OFW) from exploitative e-sabong operators.

According to Tolentino, there is an urgent need for related government agencies to step in following reports that a growing number of OFWs are getting buried in e-sabong gambling debts and can no longer regularly

send money to their families here. Reports reaching the senator’s office indicated that OFWs are able to bet on e-sabong from abroad through e-wallet in the Philippines, contrary to claims that e-wallet services are

exclusive only in the country. But the senator cited related information that this can be bypassed as the claimed security of e-wallet services can be bypassed by downloading an online application called virtual private network or VPN to show the phone user based abroad to be in the Philippines, enabling entry to the e-sabong feature of the local e-wallet services. Tolentino stressed “literally blood and sweat were invested” by the OFWs just to earn money for their families here so “it should not just evaporate like bubbles what they worked hard for, more so that a big percentage of the country’s economy is leaning on the dollars remitted by OFWs to their families.”

BOTH GCash and PayMaya clarified that their platforms are just cash in gateways, which means actual transactions during the online cockfights are processed by Pitmasters. “GCash is just a payment gateway. Betting and playing are on the Pitmaster wallet,” a GCash representative said via text message. For its part PayMaya, said the platform serves “hundreds of thousands of merchants of all types and sizes with convenient and safe digital payments.” “Among these merchants are a couple of the Pagcor-accredited platforms, specifically for cash in services. We cannot speak for the user access policies of these merchants regarding their platforms,” a PayMaya representative said. The BusinessMirror tried using both the GCash and PayMaya platforms to gain access to Pitmasters. Both platforms asked for permission to use existing user data such as name, mobile number, and date of birth, in registering an account on Pitmasters. Once the registration has been completed, both platforms will redirect users to an in-app cash in landing page, wherein users can essentially transfer money from their e-wallets to a Pitmasters account. Actual betting is done on the web site of the live cockfights.

Palace assures Soccsksargen workers file for ₧388 minimum pay hike amid rising inflation assistance to 4K

ISING cost of liv ing prompted the countr y’s largest labor group to demand for a P388 daily minimum wage hike in Soccsksargen. On Monday, the Trade Union Congress of the Philippines (TUCP) filed a new wage petition before the Regional Tripartite Wages and Productivity Board-Region 12 (RTWPB-Region 12) for the said pay increase. In a news statement, TUCP President Raymond C. Mendoza disclosed the pay adjustment aims to allow minimum wage earners in Region 12 to cope with the rising cost of petroleum products, power, food as well as the projected rise in inflation this year.

The labor leader said the increasing prices of basic goods and services already eroded the value of the P315 to P336 existing minimum wage rate in Region 12 to the point workers in the region have to make do with “nutritionally deficient survival meals.” “TUCP said that with the current minimum wage in Region 12, a measly P12.32 per meal can be allocated per member of the family which is P48.85 lower compared to P61.17 per meal per person,” Mendoza said. “Our wages are ridiculously low and are now setting the stage for massive malnutrition and hunger,” it added.

He noted minimum wage earners in Soccsksargen now earn below P13,298.00 per month, which is the Poverty Threshold for the region in 2021. TUCP urged the government and employers to allow workers in Region 12 will be able to enjoy better living conditions. “Our workers need to have living wages so that they will not only survive to continue working, but also to have a life of dignity,” Mendoza said. Aside from Region 12, TUCP already filed wage petitions in the National Capital Region, Central Visayas, Davao Region, Northern Mindanao, Zamboanga Peninsula, and Caraga. Samuel P. Medenilla

Number coding lifted, more mobility measures adopted By Claudeth Mocon-Ciriaco @claudethmc3

HE Modified Unified Volume Vehicular Reduction Program or number coding scheme will be lifted from 5 pm to 8 pm from Holy Tuesday, April 12 up to Good Friday, April 15, the Metropolitan Manila Development Authority (MMDA) said on Monday. MMDA Chairman Romando Artes said the suspension of the scheme on Holy Tuesday and Holy Wednesday, and also on Maundy Thursday and Good Friday which are both regular holidays, is meant to give the public the opportunity to travel earlier to avoid heavy traffic expected with the influx of passengers going to the provinces for the Holy Week break. “We are suspending the number coding scheme on Tuesday and Wednesday to provide the public unhampered mobility by allowing them to use their vehicles going to

the provinces,” said Artes during the inspection at the Parañaque Integrated Terminal Exchange (PITX). Artes was joined by MMDA General Manager Usec. Frisco San Juan Jr., Department of Transportation Undersecretary for Road Sector Mark Steven Pastor, Land Transportation Franchising and Regulatory Board (LTFRB) Chairman Martin Delgra III, and other officials to ensure an orderly and safe travel of passengers. During the inspection, authorities observed a high volume of passengers at the PITX. “We want to ensure a safe and convenient movement of motorists and commuters during the Holy Week. We have seen that passengers are starting to crowd the terminal. At present, the commuter volume at PITX is 100,000 daily,” said Artes. Traffic personnel are now posted at transport terminals, traffic chokepoint areas, and several major churches, he said. “We will exert all

efforts to ensure that there will be a faster turn-around of passenger buses at terminals.” Under MMDA’s “Oplan Metro Alalay Semana Santa 2022,” a total of 2,861 personnel are deployed on major thoroughfares, major transport hubs, and key areas in the metropolis to ensure the safe and smooth flow of vehicles this Lenten season. Meanwhile, Pastor said they expect the number of passengers to increase this week for the first time in two years since the Covid-19 pandemic. Commuters in Metro Manila are also being offered free rides at the Edsa Busway Carousel starting today. For his part, Delgra ordered his personnel to review the service plan or deployment of passenger buses to address the demand for public transport during Holy Week, a peak season. Meanwhile, authorities urged passengers to strictly follow the health protocols to prevent the spread of Covid-19.

families affected by storm ‘Agaton’ By Samuel P. Medenilla @sam_medenilla

ALACAÑANG announced on Tuesday that the government would provide assistance to around 4,000 families, who were displaced by tropical storm “Agaton” (international code name Megi). �� Citing data from the National Disaster Risk Reduction and Management Council (NDRRMC), Acting Presidential Spokesman Martin M. Andanar disclosed that as of 8 a.m. last Monday, 3,717 typhoon-affected families are now staying in government-run evacuation centers. The victims were from Regions 6,7,8,10,11,12, Caraga Region and the Bangsamoro Autonomous Region in Muslim Mindanao. “The Executive is closely monitoring the track of Tropical Storm Agaton as the government’s hands are on deck to assist affected residents,” Andanar said. Agaton battered parts of the country during the weekend causing strong rains and floods in some parts of the country. Prior to typhoon Agaton hitting the country, the Department of the Interior and Local Government (DILG) implemented preemptive evacuation in high-risk areas. “We reiterate our call to the public, especially in areas affected by the storm, to implement the needed precautionary measures,” Andanar said. “They should coordinate and assist authorities if there will be a need for evacuation in an area,” he added.

BusinessMirror

Tuesday, April 12, 2022

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1, Pitx Kennedy Road, Tambo, City Of Parañaque

YIN, HAN Customer Service Representative Mandarin Speaking 1.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking.

ALOGO OKOMO, DAVID EDU Multilingual Service Desk Member Basic Qualification: Knows how to recommend potential products or services to management by collecting custom and analyzing customer needs.

NG YEAN SHEN English Sales Specialist

Basic Qualification: can speak English

Brief Job Description: expanding company sales

Salary Range: Php 60,000 - Php 89,999

YANG, TING Marketing Business United Head

Basic Qualification: Knowledgeable in marketing field. Demonstrate strong leadership

Brief Job Description: in-charging of the department’s day to day operations

12.

Salary Range: Php 150,000 - Php 499,999

Brief Job Description: Resolves issues utilizing excellent customer service skills, problem solving skills, technical thinking/ reasoning skills and a high level of individual judgment

SUN, SHIGANG Project Manager 13.

Brief Job Description: Leading project planning sessions. Ensuring projects meet deadlines

HE, ZAIRONG Chinese Speaking Solutions Consultant 4.

Brief Job Description: Assist/help customers, give customers information about product and services.

JIANG, GUANGXIONG Chinese Speaking Admin Associate 14.

Brief Job Description: Assist/help customers, give customers information about products and services.

HU, WEIXIA Chinese Speaking Solutions Consultant 5.

Brief Job Description: Assist/help customers, give customers information about product and services.

Salary Range: Php 30,000 - Php 59,999

APRICUS TECHNOLOGY INC. 8/f Aguirre Building, 107 Aguirre St. Legaspi Village, San Lorenzo, City Of Makati DAOREE,, RATCHADAPORN Customer Support Specialist - Thai Speaking 6.

Brief Job Description: Evaluation of the systems’ problems to recommend enhancements

Basic Qualification: Experience using help desk software and remote support tools

Brief Job Description: Manage the Project Operation

WING, GLENN ROBERT Project Manager Brief Job Description: Manage the Project Operation

15.

16.

10.

Brief Job Description: Understanding in world business and financial affairs and awareness

BUDI ARYANTO Bahasa Indonesian Language-supervisor Fund Management Brief Job Description: Must fluently speak and write any of Bahasa Indonesian, Malaysian, Vietnamese

11.

Brief Job Description: Act as a Consumer and Market Insight Analyst utilizing English and Indonesian language to provide quality reports

Salary Range: Php 60,000 - Php 89,999

No.

Basic Qualification: Experienced in high end construction fit out

Brief Job Description: Assist/help customers, give customers information about products and services.

GARMENDIA BILBAO, JON ANDER Project Director 17.

Brief Job Description: Working with the clients to ensure that the requirements are fulfilled & expectations etc.

PEÑAS GARCIA, JOSE IGNACIO Country Manager 18.

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Experienced in high end construction fit out Salary Range: Php 150,000 - Php 499,999

Basic Qualification: Bachelor’s degree in accounting, finance, management or any business course

Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Proficient in written and spoken Indonesian language, experience with Brand Watch/ Salesforce Social Studio/ Talk Walker/Keyword Planner/Mintel/Nielsen/ Sprout Social Salary Range: Php 90,000 - Php 149,999

CGI (PHILIPPINES) INC. 2/f One World Square, Mckinley Hill, Pinagsama, City Of Taguig

Brief Job Description: Will be responsible in local brand, Key Player in multidisciplinary and multi lingual infrastructure team BOLAÑOS BETANCURT, GABRIEL DARIO Project Management Officer - Infrastructure Expert

19.

Brief Job Description: Highly skilled in structural design of buildings and bridges both steel and concrete systems

ADAN DIAZ, ALDO NERI Project Management Officer - Quality Expert 20.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in accounting, finance, management or any business course

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

YU YU KHIN Chinese Speaking Data Entry Clerk 23.

Brief Job Description: Assist/help customers, give customer information about product and services.

Basic Qualification: College Graduate, preferably 5years railway experience for Project Manager Salary Range: Php 60,000 - Php 89,999

Basic Qualification: With at least 6 months customer service experience, good in oral communication and written.

ZHONG, LIJUAN Chinese Speaking Data Entry Clerk 24.

HATSUTA, SHUICHI General Manager At Ocean Cargo Division 25.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months customer service experience, good in oral communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months customer service experience, good in oral communication and written.

Salary Range: Php 150,000 - Php 499,999

Brief Job Description: Highly skilled in documenting project progress through quality control inspection

MONCLUS FUMANAL, INES Project Management Officer - Technical Consultant 21.

Brief Job Description: Leading a team of professionals in completing projects by set of deadlines to uphold business initiatives

Basic Qualification: Masters in Civil Engineering

26.

27.

28.

JEREMY CHANG WEIYANG Cx Director, Client Business Partnership, Insight Division 22.

Brief Job Description: Drive technical excellence and spearhead innovation in research and consulting tasks; Lead best practices for core solutions so as to deliver game-changing insights to clients;

Basic Qualification: At least ten (10) years of experience in quantitative research in a Marketing Research environment, five (5) years of which is with an agency. Salary Range: Php 150,000 - Php 499,999

NEO INCORPORATED North Tower Centrum Bldg., Aseana Avenue, Entertainment City, Baclaran, City Of Parañaque

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months customer service experience/Good in oral communication and written. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: 5 to 10 years of experience in Freight Forwarding company. Excellent communication skills (Nihongo and English) Salary Range: Php 150,000 - Php 499,999

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignments.

Basic Qualification: A native speaker of Burmese language both spoken and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A native speaker of Indonesian language both spoken and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A native speaker of Vietnamese language both spoken and written. Salary Range: Php 30,000 - Php 59,999

SHANG WACK WACK PROPERTIES, INC. Level 5, Shangri-la Plaza, Edsa Cor. Shaw Boulevard Main Wing, Highway Hills, City Of Mandaluyong

LEE, FUK KWONG LOUIE Senior Site Interior Designer 29.

Brief Job Description: Ensure the project is completed on time and within budget and projects objectives are met and oversee the project to ensure the desired result is achieved

Basic Qualification: Must be a Bachelor’s degree holder in interior designing; Must have an experience of at least 1 years on interior designing Salary Range: Php 150,000 - Php 499,999

SHOPEE PHILIPPINES INC 37/f Seven/neo, 5th Avenue E-square Crescent Park West Bgc, Fort Bonifacio, City Of Taguig YU, DACHUAN Key Account Manager

30.

Basic Qualification: Masters in Civil Engineering

KANTAR PHILIPPINES, INC. 23rd Floor, The Podium West Adb Avenue Corner, Julia Vargas Avenue, Ortigas Center, Wack-wack Greenhills, City Of Mandaluyong

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignments. VO PHUONG THAO Senior Customer Service Support Staff-Vietnamese Language

Basic Qualification: Civil Engineer Graduate

Salary Range: Php 60,000 - Php 89,999

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignments. KEVIN ZAKHARIA Indonesian-language Customer Support Staff

Salary Range: Php 60,000 - Php 89,999

Brief Job Description: Does planning and forecasting for the branch sales and revenue performance in achieving the goals. Sees to it that the works in harmony and cooperation among the team member

HTAN SHIN MON TONE Burmese-language Customer Support Staff

Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Civil Engineer Graduate

Basic Qualification: With at least 6 months customer service experience/Good in oral communication and written.

RUNNINGMAN CORPORATION 8/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Any design or architectural degree with foreign diploma

Brief Job Description: Assist/help customers, give customer information about product and services.

QUALIFICATION AND SALARY RANGE

NIPPON EXPRESS PHILIPPINES CORPORATION Lot 85 A & B, Avocado Road Fti Complex, Western Bicutan, City Of Taguig

IDOM CONSULTING, ENGINEERING, ARCHITECTURE, SOCIEDAD ANONIMA UNIPERSONAL Rm, 802a 8/f Rci Bldg.,, 105 Rada St.,, San Lorenzo, City Of Makati

CAPGEMINI PHILIPPINES CORP. 12f, Ten West Campus Bldg., Le Grand Avenue, Mckinley West, Fort Bonifacio, City Of Taguig

RIO FERNANDO BONG Senior Associate

Basic Qualification: Must be fluent in Spanish and in English

GOUDIE MANILA CONSTRUCTION & DEVELOPMENT CORPORATION 2/f, 3/f, 4/f & Deck Goudie Corp. Center, 30 Paseo De Roxas Cor. Jupiter St., Bel-air, City Of Makati

BIGCAT SOFTWARE SOLUTIONS, INC. 18/f Pbcom Tower, 6795 Ayala Avenue Cor. Rufino Street, Salcedo Vill., Bel-air, City Of Makati LINTARRIO SYOFRIE RINHO Bahasa Indonesian Language-officer Fund Management

Brief Job Description: Assist/help customers, give customers information about products and services.

ZHENG, LIPING Chinese Speaking Data Entry Clerk

Salary Range: Php 30,000 - Php 59,999

BCMS INTERNATIONAL SPECIALTY CONTRACTORS INC. No. 666, Sgt. Bumatay, Plainview, City Of Mandaluyong

MCDONALD, DONALD Project Manager

JIANG, ZHUFENG Chinese Speaking Data Entry Clerk

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

QUALIFICATION AND SALARY RANGE

CRONYX INC. No. 4th-10th Flr. Yinhope Bldg., Dela Rama Cor. Zoili Hilario St., Seascape Village, Ccp Complex Subd. Zone 10, Barangay 76, Pasay City

ACE VELOCITY CONSULTANCY INC. 37/f Lkg Tower, 6801 Ayala Ave., Bel-air, City Of Makati Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

ESTABLISHMENT / ADDRESS

CHINA RAILWAY DESIGN CORPORATION PHILIPPINE BRANCH 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati

Salary Range: Php 30,000 - Php 59,999

AB LEISURE EXPONENT, INC. 5/f Sm Megamall Bldg. D, J Vargas, Wack-wack Greenhills, City Of Mandaluyong

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Brief Job Description: Responsible for establishing and maintaining good working relationships with key accounts’ decision-makers or representatives; Know the details and drivers of assigned sellers and responsible for the seller’s growth and management on Shopee Mall; Understand data points to provide insights to brands regarding sales performance and operational improvements; Assist in troubleshooting seller-related problems and providing actionable proactive solutions to potential issues; Deliver impact on category growth by ensuring seller campaign participation and marketing support; Provide in-depth insight on assigned sellers to Category Managers / Team Leads in order to execute overall category strategies in line with the brand’s goals

Basic Qualification: 2-3 years’ experience in Key Account Salary Range: Php 150,000 - Php 499,999

SIFANG AUTOMATION PHILIPPINES CORPORATION Unit W-2102c 21/f West Tower, Philippine Stock Exchange Centre, San Antonio, City Of Pasig DU, LIZHI Operation Manager 31.

Brief Job Description: Plan and review compensation actions, enforcing policies and procedures

Basic Qualification: Must know how to ensure safe and efficient operations Salary Range: Php 30,000 - Php 59,999

SPEEDWELL INC. 5/f King’s Court 2 Bldg., 2129 Chino Roces Ave., Pio Del Pilar, City Of Makati

WANG, HELING Chinese Speaking Business Consultant 32.

Brief Job Description: Assist/help customers, give customers information about product and services

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written Salary Range: Php 30,000 - Php 59,999

News BusinessMirror

www.businessmirror.com.ph

DOH reports 1,906 Covid cases from April 4 to 10

TOTAL of 1,906 Covid-19 cases were logged by the Department of Health (DOH) from April 4 to April 10, or an average of 272 cases per day. The DOH said that the figure is lower by 29 percent as compared to March 28 to April 3. The DOH also recorded 428 deaths. Of the 428 deaths, 31 occurred in April 2022 (7.2 percent), 65 in March 2022 (15.2 percent), 45 in February 2022 (10.5 percent), 51 in January 2022 (11.9 percent), 6 in December 2021 (1.4 percent), 2 in November 2021 (0.5 percent, 17 in October 2021 (4.0 percent) 34 in September 2021 (7.9 percent), 33 in August 2021

(7.7 percent), 7 in July 2021 (1.6 percent), 6 in June 2021 (1.4 percent), 11 in May 2021 (2.6 percent) 19 in April 2021 (4.4 percent), 16 in March 2021 (3.7 percent), 8 in February 2021 (1.9 percent), 5 in January 2021 (1.2 percent), 5 in December 2020 (1.2 percent), 8 in November 2020 (1.9 percent), 9 in October 2020 (2.1 percent), 11 in September 2020 (2.6 percent), 13 in August 2020 (3.0 percent), 14 in July 2020 (3.3 percent), 10 in June 2020 (2.3 percent), and 2 in May 2020 (0.5 percent). On April 10, there were 707 severe or critical Covid patients. Of the 2,951 ICU beds for Covid patients, 542 (18.4 percent) are occupied, according to the DOH.

Tuesday, April 12, 2022 A7

Pagcor remits ₧6 billion in cash dividends to National Treasury T

HE Philippine Amusement and Gaming Corp. (Pagcor) turned over P6 billion in cash dividends to the National Treasury on Monday, bringing to P48.94 billion its total remittances for dividend years 2016 to 2021. The latest remittance represents the agency’s declared dividends for 2021 amounting to P1.04 billion and its additional/advance cash dividends (that may be applied against future dividend obligations) worth P4.95 billion. With this contribution, Pagcor maintains its status as one of the government-owned and -controlled corporations (GOCCs) in the elite “Billionaires’ Club” or agencies that remit cash dividends of at least a billion pesos to the government. The state-run gaming firm has consistently been one of the top 3

contributors among GOCCs. Last year, the agency turned over a total of P5 billion in cash dividends and advances (applicable to future obligations) to the National Treasury for the dividend year 2020. Prior to that, it made its highest remittance of P18 billion, representing cash dividends for the years 2019-2020. Pagcor made its latest remittance in response to the request of Department of Finance (DOF) Secretary Carlos Dominguez III for support to the government’s funding of the increase in social expenditures to mitigate the impact of the Russia-Ukraine conflict on the vulnerable sectors. Pagcor Chairman and CEO Andrea Domingo said the agency was able to contribute substantially to the state coffers with the country start-

ing to recover from the economic effects of the global health crisis and their gaming operations easing back to normalcy. “We are now gaining momentum towards economic recovery as all businesses, including the gaming industry, are now on full operational level and revenues start pouring in once again. This enables us to fulfill our financial obligations with the government and to remain committed as one of its major partners in nation building,” she said. Even amid the pandemic when gaming operations were temporarily halted, the state-run gaming firm was able to implement its corporate social responsibility programs and fund various Covid-19 and nonCovid related projects. Deputy Treasurer Ed Mariño and OIC-Director Kenneth Ian

Francisco formally received Pagcor’s cash dividends contribution at the Bureau of the Treasury office in Intramuros, Manila. “This latest dividend contribution from Pagcor will greatly help in our government’s effort to cushion the economic effects of the Russia-Ukraine war and continue our recovery from the pandemic,” Mariño said. Pagcor Vice President for Finance Group Recto Baltazar Jr. and Assistant Vice President for Fund Management Lolita Gonzales represented the agency during the simple turnover ceremony. The remittance by GOCCs of at least 50 percent of their net earnings to the national government is mandated under Republic Act No. 7656, otherwise known as the Dividends Law.

Atienza won’t drop VP bid; Lacson reiterates he’ll stay in prexy race

OUSE Deputy Speaker Lito Atienza on Monday said he will not back out from the 2022 vice presidential race. “Definitely not. No withdrawal for me,” Atienza said in an interview. Atienza earlier said he is considering pulling out of the vice presidential

race and said he wants Senate President Vicente “Tito” Sotto III to run with Pacquiao to provide a stronger challenge against the frontrunners, Ferdinand “Bongbong” Marcos Jr. of the Partido Federal ng Pilipinas (PFP) and his tandem Davao City Mayor Sara Duterte-Carpio.

Atienza, however, rejected the suggestion of presidential bet Senator Panfilo Lacson to make his running mate, Sotto, the common vice presidential candidate of Pacquiao. He said such a suggestion would only boost the Marcos-Duterte tandem more.

“With that idea of Ping, there’ll be no movement. You’ll be stuck. It will strengthen Bongbong Marcos,” he said. Earlier, Pacquiao said he may opt to support his colleague, Sotto, if and when Atienza backs out from the 2022 race. “Kung sakaling mag-desisyon sya

[Atienza] na ano, ang naiisip namin ang pupwede lang ay si Sen. Vicente Sotto [If Atienza decides to back out, our only option is Senator Vicente Sotto],” Pacquiao said. The 80-year-old Atienza underwent knee surgery in February and has since been unable to join cam-

paign activities. “Ang mga senior inaalagaan natin. Kung ‘di nya kaya, ‘wag nyang pilitin [We take care of our senior citizens. If he is not up to it, he should not force it],” Pacquiao said. Lacson, for his part, reiterated that he would not withdraw from the May 9 elections. PNA

A8 Tuesday, April 12, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Don’t ever get tired protecting yourself

he Associated Press reported on Saturday that in the latest battle of the coronavirus mutants, an extra-contagious version of Omicron has taken over the world. The report said the BA.2 variant is now dominant in at least 68 countries, including the United States. The BA.2 has lots of mutations. It’s been dubbed “stealth Omicron” because it lacks a genetic quirk of the original Omicron that allowed health officials to rapidly differentiate it from the Delta variant. Besides being more contagious, it’s spreading at a time when governments are relaxing restrictions designed to control Covid-19. Also, people are taking off their masks and getting back to activities such as traveling, eating indoors at restaurants and attending crowded events. The World Health Organization says the BA.2 variant makes up about 94 percent of sequenced Omicron cases submitted to an international coronavirus database in the most recent week. And the US Centers for Disease Control and Prevention says it was responsible for 72 percent of new US infections last week. One reason the BA.2 has gained ground, scientists say, is that it’s about 30 percent more contagious than the original Omicron variant. China in March started banning citizens from leaving a Covidhit Northeastern province and mobilized military reservists as the fast-spreading stealth Omicron variant BA.2 was starting to fuel the country’s biggest outbreak since the start of the pandemic two years ago. In mid-March, the National Health Commission reported 1,337 locally transmitted cases in one day, including 895 in the industrial province of Jilin. A government notice said that police permission would be required for people to leave the area or travel from one city to another. From Bloomberg: “China’s largest Covid outbreak in two years continues to spread despite an extended lockdown of Shanghai’s 25 million people, weighing on a fragile economy and straining global supply chains. There were 26,087 new daily infections reported in the Chinese financial hub on Sunday, an all-time high. Residents have been locked down for weeks now, with frustration building among the population as they struggle to get access to food and medical care.” The good news is that no new Covid variants have been detected in the Philippines, according to Health Undersecretary Maria Rosario Vergeire. “The latest sequencing result was last March wherein we can say that the Omicron variant is almost 80 percent of the samples detected in the latest genome sequencing run. Aside from that, we have not seen any variant or sublineages of this Omicron variant,” Vergeire said (Read, “DOH: No Covid recombinant variants detected in PHL, in the BusinessMirror, April 8, 2022). The Department of Health on Friday said the number of new Covid-19 cases is on a plateau in the National Capital Region and all other regions of the country. “When we say it’s plateauing, it means infections stopped, it has plateaued, it stopped from decreasing or it was sustained at that level. As we continue to see a plateau in new Covid cases, we highly encourage the public to complete their primary vaccine series and get booster doses to better protect the whole community,” Vergeire said. (Read, “DOH: Covid-19 cases nationwide are ‘plateauing,’” in the BusinessMirror, April 8, 2022). Although hospitalizations and deaths are trending down in the country, the advice from experts remains the same: Take precautions to avoid getting Covid. The virus, which killed more than six million people in the world, is still circulating and evolving into more contagious variants. Let’s continue using our face masks, especially in public places. Since 2005

BusinessMirror A broader look at today’s business

A recovery in full swing Manny B. Villar

THE Entrepreneur

lmost all the economic figures we’ve seen in the past few weeks point to a strong Philippine recovery this year. The numbers are a telltale sign that the gross domestic product (GDP) performed creditably well in the January-to-March period, and would do much better in the succeeding months if we fully reopen the economy. The emerging indicators provide us hope that we can attain pre-pandemic economic levels this year and lift more Filipinos out of poverty. I do not blame our economic managers if they are upbeat on the country’s growth prospects this year. Such enthusiasm is not without bases, as most businesses observed more hectic activities beginning in the fourth quarter of 2021, which likely picked up further in the first quarter of 2022. Even the conservative Asian Development Bank, which looks at complete data sets, expects the country’s GDP to grow faster in 2022 and

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2023, after the 5.6-percent expansion in 2021. One concrete indicator is the Purchasing Managers’ Index (PMI), a gauge of manufacturing output, which rose to a three-year high of 53.2 in March 2022. A PMI above 50.0 indicates an expansion in the manufacturing sector. The Department of Trade and Industry interpreted the latest PMI reading as a sign of a robust first quarter GDP performance and further expansion in the coming months, following the easing of mobility restrictions and the implementation of health and safety protocols as

est of Paris is Poissy, what we would call a municipality of 37,000 people, its population basically unchanged since 1970.

Over this past weekend, the Associated Press printed a story in the run up to France’s first round presidential election held last Sunday. In France, a nail-biting election as Macron’s rival surges read the headline. For me the election was not important, but the article caught my attention for the language and tone. The article written by John Leicester begins, “From the market stall outside Paris that she’s run for 40 years, Yvette Robert can see firsthand how soaring prices are weighing on France’s presidential election.” “Shoppers, increasingly worried about how to make ends meet, are buying ever-smaller quantities of Robert’s neatly stacked fruits and vegetables,” she says. “People are scared—with everything that’s going up.” The phrase “people are scared” is a translation of the French “les gens

ont peur.” But more accurately the English should be “The people are afraid.” The word “scared” comes from the Old Norse for “timid” as a child might be around a family pet, or an adult startled by slammed door. But “afraid” comes from the Anglo-Norman French word “afrayer,” meaning an emotion caused by an actual danger or threat. The Middle English “affraien” has an even stronger meaning—“to terrify.” And the French word “peur” is from the Old Irish word úath for “horrible.” Are you afraid? Who could blame you? Just look at the headlines. There’s a lot of bad situations coming down right now not least of which is rising fuel prices in the Philippines. Or is there any reason for fear? If you look closely at the presidential election, there seems to be only one issue from the “Opposition” candidates. “I am NOT Bongbong

I am also optimistic that we will rebound strongly from the pandemic-induced shock and remain resilient despite the war in Ukraine. We have solid economic fundamentals and policies. They have served as part of our first line of defense against the pandemic and geopolitical upheavals. virus transmission in the country continued to ebb. I share Trade Secretary Ramon Lopez’s optimism that all signs point to a recovery in full swing starting March and in the coming months. His positive outlook is supported by the recent Bangko Sentral ng Pilipinas report that net inflows of foreign direct investment reached a record $10.5 billion in 2021. The higher numbers mean foreign companies are preparing to expand their production capacity in the country. This decade may be the start of high investment growth in the Philippines, after our Southeast Asian neighbors like Singapore, Thailand, Malaysia and Vietnam drew most of the FDIs going into the region in the past few years. It is time for us to be the leader in FDI generation in

Marcos—son of the Dictator—and I am more NOT Bongbong than the other candidates.” There is nothing wrong with that. The Martial Law period and after were extraordinarily difficult times. The justification, the implementation, and the results are almost side issues. However, aside from the “Marcos” discussion, it seems like we need a “Kinder and Gentler War on Drugs.” We need more “Build, Build, Build” only “Better.” And the term paper for this election is “Defining Character vs. Competence: Which Would You Choose?” Otherwise, every candidate is on board with “All of you—except for the rich guys of course—need more government money. But if you and your group are not on the list, just tell me so I can Show You The Money and you Show Me The Vote.” Covid prevention was a campaign issue. Geopolitics has not changed since Duterte moved the needle along the fine line the Philippines must tread between China and USA. The West Philippine Sea issue is still with us but nobody cares outside of our borders. You really need videos of body bags to get the world excited. But the critical issue for the next administration is food. That is something the candidates can only talk about in broad terms and with solutions like “A key advocacy area is food security and nutrition” and

Southeast Asia. The economic reforms under the Duterte administration will help us achieve this goal. These reforms include a focus on “Build, Build, Build” infrastructure projects, an overhaul of the taxation system through the Tax Reform for Acceleration and Inclusion law and Tax Incentives for Enterprises Act, as well as the lifting of restrictions on foreign capital through the amendments in the Retail Trade Liberalization Act, the Foreign Investments Act and Public Service Act. But it is equally important to acknowledge the challenges that lie on the road to recovery. For one, the pandemic is not yet over, with new variants posing a threat to our freedom of mobility. Then, there is the indirect impact of the UkraineRussia conflict that disrupted global trade and pushed crude prices higher. Yet, despite these seemingly insurmountable challenges, our economy remains stable, thanks to the careful handling by the Duterte administration. Finance Secretary Carlos Dominguez III is correct in saying that President Duterte has “masterfully steered” the Philippines from being an inward-looking economy to one that is ready to compete with the rest of the world. See “Villar,” A9

“The agricultural sector should be able to provide a secure and strategic food supply.” How bad is the situation? Global food prices jumped to a new record high, soaring the fastest on record. March’s food price index from the Food and Agriculture Organization of the United Nations was up 33 percent from last year and 13 percent month-on-month. The Philippines’s self-sufficiency ranges from 100 percent for tomato to seven percent for garlic. For rice we are 85 percent and corn 91 percent sufficient. Other items come in at 26 percent for coffee, 72 percent for onion and 90 percent for both pork and dressed chicken. We are relatively self-sufficient, but conditions can change almost overnight. Infant formula is in short supply as US retailers begin rationing due to Covid-19-related supply chain problems and a major baby formula recall earlier this year. Food security is not going to be obtained with government handouts to farmers and fisherfolks and more one-lane roads. Maybe get rid of the 50-year-old Department of Agrarian Reform and form a 2022 Department of Food Security. 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.

Opinion BusinessMirror

www.businessmirror.com.ph

Inaction of BOC not appealable to CTA?

Outside the Magic 12 Manny F. Dooc

TELLTALES

Atty. Mabel L. Buted

Tax Law for Business

he Court of Tax Appeals (CTA) is a court of special jurisdiction. It is the country’s court that specializes in tax and customs cases. But it can only act on matters that have been conferred to it by law, i.e., Republic Act 1125, as amended by RA 9282 and 9503. The usual cases that are commonly raised before the CTA are decisions rendered by the Commissioner of the BIR (CIR) on disputed assessments and on claims for refund of internal revenue taxes and similarly, decisions rendered by the Commissioner of the Bureau of Customs (COC) on customs collection and refund cases. The CTA can also clearly rule on cases that are elevated to it because of inactions by the CIR. There are some provisions in the Tax Code where the CIR is required to decide up to a particular period and if it fails to do so, the inaction is deemed a denial of the protest to the assessment or of a claim for refund. The CTA can acquire jurisdiction over the CIR’s inaction as mandated by its Charter and by its own rules of court. But it is not clear whether the same rule applies to the inaction by the COC. It is clear that the CTA has jurisdiction to act on decisions by the COC on cases involving liability for customs duties, fees or other money charges. But it is not clear whether the CTA could act over the inaction of the COC. Our Customs Laws prescribe certain periods for the COC to act on a protest or a claim for refund, just like CIR is mandated to act within a certain period. But the CTA charter and rules are not clear in this regard. One provision under RA 1125, as amended, provides that the persons “who may appeal” include any party who is adversely affected by an inaction of the COC. But in another provision, under the same law, which enumerates the CTA’s “jurisdiction”, the inaction of the COC was not specifically and separately provided as one of the instances where the CTA may acquire jurisdiction. The Customs Modernization and Tariff Act is also silent about this predicament. The law speaks only of decisions of the Commissioner of the BOC. In a recent case (CTA EB 10559, February 22, 2022), the CTA held that it does not have jurisdiction over the inaction of the COC on cases involving liability for customs duties, fees or other money charges. Notably, the Supreme Court has also made a much earlier pronouncement in GR L-18808 (May 29, 1964), that there is no statutory grant for importers claiming refund of duties to go directly to the CTA, without awaiting

Villar. . .

Continued from A8

Infrastructure spending, as a percentage of the GDP, reached more than 5 percent under the Duterte presidency. Infrastructure projects are critical in decongesting traffic in Metro Manila and linking provinces and islands across the country. The government’s response to contain the spread of the pandemic also deserves accolade from the public. The implementation of health protocols and massive vaccination over the past two years prevented more deaths and put us in a better position today, compared with our Asian neighbors. We have fully inoculated over 70 percent of the target population against the virus, allowing us to reopen our economy and catch the attention of foreign and local investors. With the Philippines now under low-risk classification, we can manage the situation better and retrace

There seems to be inconsistent positions in the decisions of the courts. I would like to advocate though that our taxpayers should be given a clear remedy against the inaction of the COC. If not, taxpayers will be left at the mercy of the inaction by government officers who swore to serve them. I do not think this is what the law intends, and I do not think justice will be served if inaction is left unchecked. the decision of the COC. In another case (CTA EB 1973, July 14, 2020), however, the Tax Court itself made a statement that the inaction of the BOC shall not bar the Court from taking cognizance. The BOC’s inaction should not prejudice the right of the adverse party. I would like to note, however, that while this is the ruling, the CTA did not determine the specific point in time when the taxpayer may appeal after the inaction. In this case, the claim for refund has been pending for review with the COC for two years. In GR 134114 (July 6, 2001), the Supreme Court also remanded the case to the CTA for proper determination of a claim involving a refund of customs duties, after the COC’s inaction for almost six years. There seems to be inconsistent positions in the decisions of the courts. I would like to advocate though that our taxpayers should be given a clear remedy against the inaction of the COC. If not, taxpayers will be left at the mercy of the inaction by government officers who swore to serve them. I do not think this is what the law intends, and I do not think justice will be served if inaction is left unchecked. The author is a junior partner of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at mabel.buted@ bdblaw.com.ph or call 8403-2001 local 160.

our economic growth path towards an upper middle-income status. This would soon translate into a reduction in unemployment and poverty rates. The ADB predicted our recovery would gain traction this year, underpinned by rising domestic investment and consumption as pandemic restrictions eased. The ADB sees our GDP growing by 6.0 percent in 2022 and 6.3 percent in 2023, after the government lifted mobility restrictions and eased international travel. Airlines, hotels and other tourism establishments are hiring again. I am also optimistic that we will rebound strongly from the pandemicinduced shock and remain resilient despite the war in Ukraine. We have solid economic fundamentals and policies. They have served as part of our first line of defense against the pandemic and geopolitical upheavals. For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar. com.ph

welve is the magic number for the 64 candidates seeking a berth in the Senate. The list of aspirants is star-studded and consists of six reelectionists (Win Gatchalian, Migz Zubiri, Joel Villanueva, Risa Hontiveros, Dick Gordon and Leila de Lima) and seven former senators (Loren Legarda, Alan Peter Cayetano, Chiz Escudero, Jinggoy Estrada, JV Ejercito, Gringo Honasan and Antonio Trillanes). If previous experience as a senator would be the sole gauge, we have more than enough to fill in the entire slate. In addition, we have a former vice president, Jojo Binay, and a former presidential candidate, Gibo Teodoro, who have joined the fray. The other hopefuls have notable credentials as public servants and professionals who have excelled in their fields, to wit: Raffy Tulfo, Mark Villar, Robin Padilla, Herbert Bautista, Guillermo Eleazar, Harry Roque, Larry Gadon, Chel Diokno, Neri Colmenares and others. Undoubtedly, we have a rich harvest of candidates but unfortunately we have only a dozen slots to fill. Based on the latest Pulse Asia senatorial survey, the top 12 hopefuls are: Tulfo, Legarda, Cayetano, Escudero, Villar, Gatchalian, Zubiri, Villanueva, Robin Padilla, Binay, Estrada and Ejercito. Tulfo and Robin Padilla stood out as not having held any elective position before. All the others, except Binay and Villar, are either incumbent or comebacking senators. The second set of 12 who ranked 13th to 24th places are as follows: Hontiveros, Bautista, Honasan, Gordon Trillanes, Eleazar, Teodoro, Roque, Gadon, Diokno, Colmenares and de Lima. Three of them are reelectionist senators and two are former senators. Eleazar was former Chief PNP, Teodoro and Roque are former cabinet members and congressmen, Colmenares is a former congressman, Bautista is a former 3-termer mayor and Gadon and Diokno are practicing lawyers. All of them have been in the public limelight and have distinguished themselves in their respective ca-

reers. Hontiveros and Gordon deserve to retain their Senate seats if only to reward them for their impressive performance as legislators and fiscalizers of the current administration. Hontiveros has proven that she has the competence and guts to pursue her legislative agenda despite being a female and an oppositionist. She comes to the session hall well prepared and armed with facts to do battle with the majority solons that obviously don’t intimidate her. Gordon enjoys a wealth of experience in public service as the youngest delegate to the 1971 Constitutional Convention, multi-term city mayor of Olongapo, congressman, senator, Chairman of Bases Conversion and Development Authority, Secretary of Tourism and Chairman of the Philippine Red Cross. There is no other senatorial aspirant who can claim the same breadth and length of experience in public service as Gordon. Teodoro is an underrated candidate despite his excellent credentials and solid qualifications. He’s a product of Xavier School, De La Salle and UP where he harvested academic medals. He topped the 1989 Bar Examinations and completed his Master of Laws in Harvard University. He was a member of the House of Representatives for three terms and served as the Secretary of National Defense at the age of 43 under President Gloria Macapagal-Arroyo. In the 2010 presidential election, Teodoro was nominated to run for president under the ruling party’s banner, the Lakas-Kampi-CMD of

Tuesday, April 12, 2022 A9

President Arroyo. His huge promise remains unfulfilled and our people should be wiser to return Teodoro to public life. Another outstanding lawyer, Diokno, has failed to capture the public imagination despite his dedicated service to our people particularly the victims of oppression and injustice. He’s the son of former Senator Jose W. Diokno, an ardent nationalist and intellectual leader of the opposition against Ferdinand Marcos. His grandfather, Ramon Diokno, was a justice of the Supreme Court while his great grandfather, General Ananias Diokno, fought both the Spaniards and the Americans during our war for independence. Chel Diokno studied at De La Salle, UP and finished his law at Northern Illinois University, magna cum laude. Upon his return to the Philippines, he headed the Free Legal Assistance Group to provide legal assistance to the victims of martial law. He handled several celebrated legal cases involving police and military abuses. He was the founding dean of the De La Salle University College of Law, now renamed the De La Salle University Tañada-Diokno College of Law to honor two prominent human rights advocates. Another human rights crusader vying for a Senate seat is Colmenares. He earned his Economics degree at San Beda College and his law degree at UP. He was an active student leader and a militant youth organizer. He was arrested by the military for a couple of times and he was tortured while under captivity. After passing the bar, he became a human rights lawyer. He is the president of the National Union of People’s Lawyers whose members have been the target of numerous assassinations due to their commitment to defend the rights of the poor and the oppressed. Colmenares has consistently stood for the rights of the underprivileged and his election to the Senate will ensure that their voices are heard in our highest legislative body. Eleazar is a new face in politics although he has long been in public service as a bemedaled police officer. If he gets elected, he woud be the third Chief PNP after Panfilo Lacson and Bato de la Rosa to serve in the Senate in recent years. He promises to be the “siga” in the Senate and it

may be worth to test his mettle in that august body. Both Honasan and Trillanes had colorful military career, which they had parlayed to endear themselves to the masses and win their Senate seats. Honasan had served four Senate terms and Trillanes, two terms. Our people can duly assess their performance during their long years of stay in the Senate and decide if they still deserve their trust. In the case of De Lima, our country was virtually deprived of her services as a Senator since she has spent almost five years of her term behind bars. She’s a very capable lawyer having placed No. 8 in the 1985 bar examinations. She served as the Chairman of the Human Rights Commission and as the Secretary of Justice. Right now, De Lima is not only languishing in jail but also in the ranking of senatoriables in this year’s election. Roque was a respected law professor of constitutional and public international law. He handled celebrated cases like the Maguindanao massacre victims and the family of Jennifer Laude, a transgender who was killed by a US marine. He was elected as a party-list congressman but cut his term short when President Duterte appointed him as the presidential spokesperson in 2017. He earned his bachelor’s degree at the University of Michigan, his law degree at UP and his Master of Laws degree at the London School of Economics. Those who occupy the13th to 16th slot—Hontiveros, Bautista, Honasan and Gordon— have a statistical chance of entering the magic column. They have better opportunity to dislodge the candidates at the tail end of the top 12. There are still four weeks left before the election and anything can still happen. It will be tough to overtake the first eight in the survey although their standings may interchange. There will be changing of the guards at the Senate after this election. A Gordon-less or Honasan-less Senate may be hard to comprehend but now we have gotten used to a Senate without an Osmeña after generations that this illustrious family had served the Senate. Gordon’s and Honasan’s partisans should not allow this to happen. Their 2022 senatorial fight should not be their last hurrah!

Living with Covid: Experts divided on UK plan as cases soar

By Sylvia Hui | The Associated Press

ONDON—For many in the UK, the pandemic may as well be over. Mask requirements have been dropped. Free mass testing is a thing of the past. And for the first time since spring 2020, people can go abroad for holidays without ordering tests or filling out lengthy forms. That sense of freedom is widespread even as infections soared in Britain in March, driven by the milder but more transmissible Omicron BA.2 variant that’s rapidly spreading around Europe, the US and elsewhere. The situation in the UK may portend what lies ahead for other countries as they ease coronavirus restrictions. France and Germany have seen similar spikes in infections in recent weeks, and the number of hospitalizations in the UK and France has again climbed—though the number of deaths per day remains well below levels seen earlier in the pandemic. In the US, more and more Americans are testing at home, so official case numbers are likely a vast undercount. The roster of those newly infected include actors and politicians, who are tested regularly. Cabinet members, House Speaker Nancy Pelosi, Broadway actors and the governors of New Jersey and Connecticut have all tested positive. Britain stands out in Europe because it ditched all mitigation policies in February, including mandatory self-isolation for those infected. Prime Minister Boris Johnson’s conservative government is determined

to stick to its “living with Covid” plan, but experts disagree on whether the country is coping well. Some scientists argue it’s the right time to accept that “living with Covid” means tolerating a certain level of disruption and deaths, much like we do for seasonal flu. Others believe that Britain’s government lifted restrictions too quickly and too soon. They warned that deaths and hospital admissions could keep rising because more people over 55—those who are most likely to get seriously ill from Covid-19—are now getting infected despite high levels of vaccination. Hospitals are again under strain, both from patients with the virus and huge numbers of staff off sick, said National Health Service medical director Stephen Powis. “Blinding ourselves to this level of harm does not constitute living with a virus infection—quite the opposite,” said Stephen Griffin, a professor in medicine at the University of Leeds. “Without sufficient vaccination, ventilation, masking, isolation and testing, we will continue to ‘live with’ disruption, disease and sadly, death, as a result.” Others, like Paul Hunter, a medicine professor at the University of East Anglia, are more supportive of

the government’s policies. “We’re still not at the point where (Covid-19) is going to be least harmful … but we’re over the worst,” he said. Once a high vaccination rate is achieved there is little value in maintaining restrictions such as social distancing because “they never ultimately prevent infections, only delay them,” he argued. Britain’s official statistics agency estimated that almost 5 million UK residents, or 1 in 13, had the virus in late March, the most it had reported. Separately, the REACT study from London’s Imperial College said its data showed that the country’s infection levels in March were 40% higher than the first Omicron peak in January. Infection rates are so high that airlines had to cancel flights during the busy two-week Easter break because too many workers were calling in sick. France and Germany have seen similar surges as restrictions eased in most European countries. More than 100,000 people in France were testing positive every day despite a sharp drop-off in testing, and the number of virus patients in intensive care rose 22% over the past week. President Emmanuel Macron’s government, keen to encourage voter turnout in April elections, is not talking about any new restrictions. In Germany, infection levels have drifted down from a recent peak. But Health Minister Karl Lauterbach backed off a decision to end mandatory self-isolation for infected people just two days after it was announced. He said the plan would send a “completely wrong” signal that “either the

pandemic is over or the virus has become significantly more harmless than was assumed in the past.” In the US, outbreaks at Georgetown University and Johns Hopkins University are bringing back mask requirements to those campuses as officials seek out quarantine space. Across Europe, only Spain and Switzerland have joined the UK in lifting self-isolation requirements for at least some infected people. But many European countries have eased mass testing, which will make it much harder to know how prevalent the virus is. Britain stopped distributing free rapid home tests this month. Julian Tang, a flu virologist at the University of Leicester, said that while it’s important to have a surveillance program to monitor for new variants and update the vaccine, countries cope with flu without mandatory restrictions or mass testing. “Eventually, Covid-19 will settle down to become more endemic and seasonal, like flu,” Tang said. “Living with Covid, to me, should mimic living with flu.” Cambridge University virologist Ravindra Gupta is more cautious. Mortality rates for Covid-19 are still far higher than seasonal flu and the virus causes more severe disease, he warned. He would have preferred “more gentle easing of restrictions.” “There’s no reason to believe that a new variant would not be more transmissible or severe,” he added. Geir Moulson and Kirsten Grieshaber in Berlin, Angela Charlton in Paris, Barry Hatton in Lisbon and other AP journalists around Europe contributed to this report.

A10 Tuesday, April 12, 2022

NAMFREL URGES PINOYS TO BE CITIZEN ELECTION OBSERVERS By Roderick L. Abad Contributor

HE National Citizens’ Movement for Free Elections (Namfrel) on Monday encouraged all Filipinos to guard the entire election process to guarantee fairness and ensure that their votes are counted rightly. According to the poll watchdog, the voting public need not be a member of any election monitoring organization, political parties, or poll management body to become citizen election observers or “Bantay ng Bayan.” “Any Filipino can be a citizen election observer, whether they are campaigning for or against a candidate, or are not campaigning, or are undecided,” it added.

In a Youtube video) (https:// bit. ly/2022NAMFRELBantayNg Bayan) it released on April 11, Namfrel enumerated the various violations that citizens can easily look out for during the prepoll season, election day, and after the voting period. It also outlined how and to whom citizens can report or seek assistance from to officially report these violations, including itself, the Commission on Elections, the Philippine National Police, political parties, and the media. In the coming weeks prior to the May 9 elections, Namfrel said it will be issuing more guidelines on how ordinary citizens may join to make sure that the 2022 national and local polls will be transparent, free and fair.

Heed court injunctions, halt new sugar imports, Migz tells Dar, Serafica By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

AVAO CITY—Agriculture Secretary William Dar and Sugar Regulatory Administration (SRA) head Hermenegildo Serafica should hearken to two previous court injunctions against the importation of sugar, saying that the new proposal to import sugar may turn the tables against them. “Lest the SRA...be accused of this being a midnight deal bereft of propriety and due process, they should not allow this while our farmers are harvesting their crops during the harvest season,” Sen. Juan Miguel Zubiri said, over reports that government would import sugar again. Zubiri said he was calling on the SRA to reconsider a new importation program “supposedly proposed by the administration, after already receiving two injunctions for Sugar Order No. 3 in February.” “Our local sugar farmers are again approaching our office, deeply concerned over talks of a new SRA proposal that would green light the importation of 350,000 metric tons of sugar into the country,” he said. “Our courts have already landed on the side of our sugar farmers last February, so it’s disheartening that we are having the same conversation about importation again.” The Sagay City and Himamaylan City Regional Trial Courts issued separate preliminary injunctions in February against the importation of 200,000 metric tons of sugar under Sugar Order No. 3, he said. “Sagay RTC Branch 73 Judge

Reginald Fuentebella went so far as to say that the court recognizes the grave and irreparable injury [that] will result from the implementation of SRA Sugar No. 3,” Zubiri said, “I would hope that these injunctions have prompted the SRA to reconsider the harm that their importation programs would inflict on our local sugar farmers. “I enjoin Secretary Dar and Administrator Serafica to take heed of the call of our local sugar sector, and also of our courts—let us be on the side of our farmers,” he said. The proposed 350,000 MT importation deal would put sugar farmers at a gross disadvantage, and leave them completely unable to recover from the setbacks already imposed by the pandemic and the skyrocketing fertilizer prices, Zubiri said. “Instead of this importation program, let us focus on delivering much-needed assistance to our farmers, and let us find ways to boost local production not just of crops, but of fertilizers as well. “The SRA and the DA are here not to shepherd imported produce into the country, but to strengthen our own production and to ensure that our farmers are able to make a good living out of their labor. So I reiterate my call to the SRA and the DA to devote all their efforts to supporting our farmers, and I assure them that we in the Senate are always prepared to work with them on the legislation and budgetary allocations that we need to make for our farmers,” Zubiri said.

Real property... “That kind of wealth cannot escape to offshore accounts or anywhere. That is wealth here. The other kind of wealth they want to tax can disappear,” Dominguez said in a statement on Monday, referring to the proposals of some individuals and legislators to impose a “wealth” tax on the country’s richest Filipinos. T he t h i rd pac k a ge of t he Duterte administration’s comprehensive tax reform program also seeks to increase government revenues by broadening the tax base used for property-related taxes imposed by the national

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and local governments instead of raising the existing tax rates or devising new taxes. Last year, Dominguez wrote a letter to House Speaker Lord Allan Jay Velasco to say that imposing a “super-rich” tax on individuals with assets exceeding P1 billion as proposed in House Bill (HB) No. 10253 would defeat its purpose of generating more revenues. While this wealth tax could initially lead to gains in tax collections, it could, at the same time, discourage growth and investments in the long haul, he said in his letter.

Moody’s has stable outlook on PHL, 14 banking systems

By Bianca Cuaresma

@BcuaresmaBM

OODY’S Investors Service announced on Monday that it has maintained a stable outlook on the majority of Asia Pacific (APAC) banking systems, including the Philippines. In a release, the international credit watcher said recovery in operating conditions and banks’ steady solvency and liquidity metrics support a stable outlook for 15 APAC banking systems, while one system —Vietnam—is on positive outlook. The 15 banking systems with stable outlooks are Australia; Bangladesh; China; Hong Kong SAR, China; India; Indonesia; Japan; Korea; Malaysia; New Zealand; Pakistan; Philippines; Singapore; Taiwan, China; Thailand.

Moody’s said the outlook on many APAC banking systems could have been positive, if not for the military conflict in Eastern Europe, which is the key risk for the outlook. “A potential further escalation of the military conflict and/or additional sanctions or embargoes on Russia’s exports would fuel commodity prices and inflation, a credit-negative for real economic growth, financial markets, business and consumer confidence,” the credit watcher said.

For the Philippines, Moody’s said the stable outlook comes mainly from the easing of coronavirusrelated restrictions, which will stabilize the banks’ operating environment and slow the growth in problem loans. “Banks’ profitability will improve as provisions decrease and core earnings increase. Banks’ capital ratios will modestly decline closer to pre-pandemic levels as loan growth picks up, but they will remain high, well above regulatory requirements,” Moody’s said. The credit rating agency, however, warned of potential risks such as the rising prices due to geopolitical unrest and lingering effects of the pandemicrelated economic disruption. “The accelerating inflation due to the Russia-Ukraine military conflict, lingering pandemic woes due to new variants, and possible rate hikes in the country will dampen but not derail the economy’s recovery,” Moody’s said. “Still, the system continues to face high tail risks as ratios of

nonperforming, restructured and overdue loans will remain higher than pre-pandemic levels,” it added. Regionally, Moody’s expects APAC banks’ profitability to generally rise this year because of wider net interest margins against the backdrop of higher policy rates. Moody’s also said loan loss provisions as a share of gross loans in the region, will likely decrease modestly in parts of APAC; however, banks will be reluctant to release significant amounts of general reserves amid macroeconomic uncertainties. “APAC banks will maintain strong and stable funding and liquidity, following improvements over the past two years in funding conditions that benefited from easier monetary policy and slow credit growth. Their core capital will remain stable, although a mild decrease will occur in some systems as banks will post higher credit growth and pursue capital optimization strategies,” Moody’s said.

COMMUTERS in Metro Manila will again be able to enjoy free rides at the Edsa Busway Carousel—as they did on Monday, April 11, 2022—under the third phase of the Department of Transportation’s service contracting program. NONIE REYES

Hotels, carriers see more Holy Week bookings By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

OTELS and resorts in key leisure destinations in the country are expected to enjoy high occupancy rates for the Holy Week. In a news statement, Philippine Hotel Owners Association (PHOA) President Arthur M. Lopez said, “I have been receiving feedback from our members that bookings are rising, which is very encouraging.” Holy Week, which culminates on April 17, Easter Sunday, is historically a peak period for domestic travel in the country. He gave assurances that PHOA members will continue to strictly implement health and safety protocols at their properties. “We are committed to ensuring a safe and enjoyable stay for all our guests. We will therefore ensure adherence to public health standards in the entire customer journey,” he said. Greater mobility of domestic travelers has been made possible with the easing of interzonal requirements, such that airlines are

also reporting higher bookings.

Most popular destinations

FOR his part, Alfred M. Reyes, president of the Hotel, Resort & Restaurant Association of Cebu Inc., told the BusinessMirror, “Resorts in Mactan are doing very well. Many of them are averaging 70 percent occupancy on their available rooms.” Most of the guests are still domestic travelers, he added, with majority coming from the National Capital Region. The story is different for the city hotels, however. Reyes said occupancy rates are running at 2030 percent only as traditionally, people usually go to the beach on Holy week. “Even residents here can go on day trips to resorts in Mactan,” he noted. Diony Salme, chairman of the Boracay Foundation Inc., expressed optimism for the prospects of the island’s recovery. “Most of our hotels/ resorts are already fully booked for the Holy Week,” he said. Data from the Malay Municipal Tourism office showed over 50,000 arrivals in Boracay from April 1-9, 2022. Of this number, 48,4981 were domestic trav-

elers, while 984 were foreign tourists. Visitors from Metro Manila accounted for the largest number of domestic visitors at 18,050, while visitors from the United States, at 209, topped the list of foreign tourists on the island.

More flights to key destinations

PHILIPPINES Air Asia spokesman Steve Dailisan said the carrier has observed a “significant uptick in booking behavior since March. This was sustained during the first week of April. In fact, we’ve already increased our flight frequencies to as much as 30 percent to accommodate summer demand.” Flights to Caticlan have increased to 41 times weekly from 34 times in March, while flights to Kalibo are now 18 times weekly from 11 times. Flights to Cebu grew to 26 times weekly from 21 times in March. Other destinations where the carrier has increased its flight frequencies per week are Iloilo, Tacloban, Tagbilaran, Bacolod, Puerto Princesa, Davao, and Cagayan. He added, “The top destina-

tions with the highest number of travelers inc lude Catic lan (37,8 81); Tac loba n (13,737); Panglao/ Tagbi laran (13,303); Cebu (12,778); and Kalibo with 11,754 guests already booked to f ly over the upcoming peak travel period.” Cebu Pacific, the largest domestic carrier in the Philippines, has confirmed the most popular routes this Holy Week are still Cebu and Boracay, according to its spokesperson Carmina Romero. While the carrier didn’t have to add more f lights especially toward this weekend, she said, “We’ve ramped up enough ahead already. We’re almost 100 percent of pre-pandemic capacity since the beginning of April.” The carrier’s Manila-Caticlan route is now being served with 16 flights daily, while its Manila-Cebu is now 15 flights daily, she added. Prior to the pandemic, Cebu (including Lapu-Lapu/Mactan) and Boracay ranked as the top two leisure destinations in the country, attracting inbound arrivals (foreign and domestic) at some 4.7 million and 2 million, respectively, according to government data.

Companies

Editor: Jennifer A. Ng

Tuesday, April 12, 2022

Meralco: Power rates to rise on higher generation cost

By Lenie Lectura

@llectura

ower rates for this month will go up to P10.1830 per kilowatt hour (kWh) from P9.6467 per kWh last month, the Manila Electric Co. (Meralco) announced Monday.

The P0.5363 upward adjustment is equivalent to an increase of around P107 in the total bill of a residential customer consuming 200 kWh. Meralco said generation charge, which makes up bulk of an electric bill, went up by P0.3987 to P5.8724 per kWh from the P5.4737 per kWh registered the previous month due to higher charges from Independent Power Producers (IPP) and the Wholesale Electricity Spot Market (WESM). “This month’s generation charge increase would have been significantly higher, but Meralco coordinated with the Energy Regulatory Commission [ERC] and some of its suppliers to again defer collection of portions of their generation costs to cushion the impact on the customers’ bills,” Meralco Head of Regulatory Management Office Jose Ronald V. Valles said. Valles said on top of the additional deferred generation charges from suppliers totaling around P945 million, the ERC also directed Meralco to defer collection of P300 million generation costs, which further reduced this month’s generation rate by about 11 centavos per kWh. All these charges will subsequently be billed on a staggered basis over the next three months, as ordered by the ERC. For this billing month, charges from IPPs increased by P1.4885 per kWh mainly due to the scheduled maintenance of Quezon Power plant that lasted until March 24, and the higher fuel costs of First Gas–Sta. Rita. The Malampaya facility’s continued failure to supply sufficient natural gas resulted in Sta. Rita utilizing more expensive liquid fuel to ensure continuous supply. Peso depreciation against the US dollar also contributed to the increase in IPP charges, since around 97 percent of these costs are dollar-denominated. Also weighing on the generation charge were WESM prices, which remained elevated in March. The secondary price cap was imposed 4.49 percent of the time during the supply month amid tight supply conditions in the Luzon grid. Peak demand in Luzon rose by more than 1,500 megawatts (MW)

with the onset of the dry season and increase in economic activity after Metro Manila and nearby other provinces were placed on less restrictive alert level beginning March. The higher demand and the maintenance shutdown of Quezon Power prompted Meralco to source additional supply from the WESM. Charges from Power Supply Agreements (PSAs) were lower by P0.1068 per kWh due to the deferral of generation costs. IPPs, PSAs, and WESM accounted for 31.0 percent, 51.6 percent, and 17.4 percent, of Meralco’s energy requirement, respectively. With the current situation, Meralco warned that generation rates are still expected to increase in the coming months. “On top of the deferred generation charges, the impact of the quarterly repricing of the Malampaya natural gas for the April supply will be reflected in the generation charge in May,” Valles said. “Electricity consumption historically increases during the dry months, and this is expected to also weigh on the customers’ power bills.”

Deferred generation cost

When sought to elaborate, Meralco utility economics head Lawrence Fernandez said the P500-million deferred generation cost last March will be collected in April, May, and June, equivalent to around P0.06 per kWh. Also, generation cost for April amounting to P1.245 billion will be collected in May, June, and July, equivalent to around P0.15 per kWh. Fernandez said if the generation charges were not deferred, the cost impact would have been “more than P1 per kWh,” but the move was meant “to cushion the impact on the bills of Meralco customers.” In addition to deferred generation charges, Meralco’s refund of P18.7 billion in distribution-related charges helped temper this month’s increase. This is equivalent to a total refund of P0.4684 per kWh for residential customers. To recall, Meralco secured the ERC’s provisional approval to implement a P13.9

billion Distribution Rate True-Up (DRTU) refund to its customers for 24 consecutive months or until the amount is fully refunded. This is equivalent to a rate refund of P0.2761 per kWh for residential customers, implemented beginning March 2021. The refund amount represented the difference between the Actual Weighted Average Tariff and the ERC-approved Interim Average Rate for distribution-related charges for the period July 2015 to November 2020. Following the ERC order in March 2022 to expand the period subject of the refund to include December 2020 to December 2021, Meralco last month started another refund to cover the additional P4.8 billion. This is equivalent to a P0.1923 per kWh rate refund for residential customers, and will be implemented for an estimated period of 12 months, or until the amount is fully refunded. Transmission charge, meanwhile, for residential customers had a slight increase of P0.0071 per kWh, while taxes and other charges registered a net increase of P0.1305 per kWh mainly because of higher generation costs. The collection of P0.0025 per kWh representing the Universal Charge-Environmental Charge remains suspended as ordered by the ERC. Meralco reiterated that it only earns from distribution, supply, and metering charges, which have remained unchanged since the reduction in July 2015. Meanwhile, pass-through charges from generation and transmission are paid to the power suppliers and the system operator, respectively, while taxes, universal charges, and Feed-in Tariff Allowance (FIT-All) are all remitted to the government. As the 2022 National and Local Elections draw near, Meralco is continuously working with the government to ensure the delivery of stable and reliable electricity service, especially to the critical sites identified by the Commission on Elections. The company also expressed readiness to address any electricity-related problem that may occur in any of the over 2,900 polling and canvassing centers and vital election sites within its franchise area. To ensure that the electrical facilities in these sites will be in good condition in time for the elections, Meralco conducted inspections and maintenance of its distribution facilities. Meralco crews and contractors, along with generator sets and floodlights, will be deployed in strategic locations across its franchise to immediately address any problem or electricity-related troubles.

NY court junks lawsuit vs Bloomberry

loomberry Resorts Corp., which owns Solaire Resorts and Casino, on Monday said the New York Court dismissed a lawsuit filed against its unit by the Bangladesh Bank in connection with the 2016 bank heist for lack of jurisdiction. The company led by billionaire Enrique K. Razon Jr. said it received the decision on April 8, which states that the New York Court in the United States has sided with its unit Bloomberry Resorts and Hotels Inc. The Razon camp filed a motion to dismiss the complaint filed by the Bangladesh Bank in 2020. The New York court ordered that the complaint “is dismissed in its entirety as against the defendant, with costs and disbursements to defendant Bloomberry Resorts and Hotels Inc. d/b/a Solaire Resort

and Casino as taxed by the Clerk of the Court, and the Clerk is directed to enter judgment accordingly in favor of defendant Bloomberry Resorts and Hotels, Inc. d/b/a Solaire Resort and Casino.” The case, which was filed by the bank in May 2020, is related to another case in the United States filed in 2016 about the $81-million Bangladesh Bank heist. Some of the amount of was allegedly channeled through several local casinos, include Solaire. The suit involved Rizal Commercial Banking Corp., Maia Santos Deguito, Angela Ruth Torres, Lorenzo V. Tan, Raul Victor B. Tan, Ismael S. Reyes, Brigitte R. Capina, Nestor O. Pineda, Romualdo S. Agarrado, Philrem Service Corp., Salud Bautista, Michael Bautista, Centurytex Trading, William So Go, Bloomberry Resorts and Hotels

Inc, Eastern Hawaii Leisure Co. Ltd. that includes Midas Hotel and Casino, Kam Sin Wong or Kim Wong, Weikang Xu, Ding Zhize, Gao Shuhua and several John Does. “The complaint in the State Court is for: conversion/ theft/ misappropriation; aiding and abetting the same; conspiracy to commit the same; fraud (against RCBC); aiding and abetting and conspiracy to commit fraud; conspiracy to commit trespass against chattels; unjust enrichment; and return of money received.” Razon earlier said that Bloomberry has banned one junket operator and 18 junket players in relation to the $81-million Bangladesh money-laundering case. It has also implemented stricter procedures for new junket players coming into Solaire as part of a change in protocol. VG Cabuag

URC: Units lead march towards net-zero goal

niversal Robina Corp. (URC), the food unit of the Gokongwei Group, said its agro-industrial and sugar groups have been leading the way for the company’s overall push for a net-zero emission goal by 2050. Since 2015, the company’s agro-industrial group has been generating over 600 megawatts a year at its poultry farm in Naic, Cavite, and pig farm in San Miguel, Bulacan, using biogas. Its sugar group,

meanwhile, kept the biogas program in place when it took over the assets of Roxas Holdings Inc. in La Carlota City, Negros Occidental, in 2020. “These efforts are part of URC’s overall push towards reaching its ‘net zero’ goal by 2050, by sourcing its energy needs from power producers that use renewable sources,” Irwin Lee, URC president and CEO said. Net zero emission is a strategy to zeroout the amount of greenhouse gases the

company emits, by offsetting these with its efforts such as recycling or planting trees or in this case using renewable energy in its operations. This commitment will support the Philippines’s pledge to the Paris Agreement on Climate Change, which aims to reach carbon neutrality by 2050 and to reduce the country’s GHG emission by 75 percent by 2030 as part of its National Determined Contribution. VG Cabuag

Advent to supply power to ice plant

ita Tropic Ice Company Inc., an ice manufacturing company in Malabon City, will tap Advent Energy Inc., a retail business unit of Aboitiz Power Corp., for the supply of renewable energy under the government’s Green Energy Option Program (GEOP). GEOP, a salient point of the Renewable Energy Act of 2008, is a voluntary policy mechanism that provides electricity end-users with an average peak demand of at least 100 kW for the past 12 months, the option to switch to renewable energy sources and choose their own renewable energy supplier Vita Tropic is AboitizPower’s first GEOP customer. AboitizPower has already received GEOP permits from the Department of Energy (DOE) for its retail companies, namely Advent Energy Inc., Aboitiz Energy Solutions Inc. (AESI), and Prism Energy Inc. With the DOE-issued permit, these entities are authorized to enter into a supply contract with qualified GEOP customers. “As responsible citizens, we must ensure that in everything that we do, we do it with utmost regard to what effects it has on our environment, which is why we are very proud to be one of the

first GEOP customers in the country today. We’re happy to be partners with AboitizPower, a leader in the Philippine power industry. Through concrete solutions that use the best practices, our partnership built on trust and shared values give us the power to create meaningful impacts to build a better world for a cleaner and more sustainable future,” said David Co, Vita Tropic Ice Company Inc.’s head of business development. Juan Alejandro Aboitiz, AboitizPower Senior Vice President for Commercial Operations, said the GEOP will give more customers the option and opportunity to join the movement towards a sustainable energy transition. “We’ve been looking forward to the implementation of GEOP and now that it’s finally happening, we’re confident that we have the ability and expertise to serve the needs of the GEOP market,” he said. In the next 10 years, Aboitiz Power will expand its Cleanergy portfolio, in support of the government’s efforts to promote renewable energy in the country. It plans to build an additional 3,700 MW of renewable energy, growing its existing Cleanergy capacity threefold by 2030. Lenie Lectura

Elon Musk turns down offer to join Twitter board

witter Inc. said Elon Musk has decided not to join its board, a stunning twist to a week-long saga that’s captivated the tech community and touched off renewed speculation about the company’s future. Musk held “many discussions” with Twitter’s directors but the entrepreneur ultimately declined their offer to take a board seat, Chief Executive Officer Parag Agrawal tweeted. According to the CEO, Musk informed Twitter of his decision April 9, the same day he was slated to formally join the board. “I believe this is for the best,” the Twitter CEO said in an internal memo shared late Sunday. “There will be distractions ahead, but our goals and priorities remain unchanged.” The abrupt reversal ignites renewed speculation about Musk ’s intentions for Twitter since disclosing he had taken a stake of just over 9 percent -- becoming the social media giant’s largest individual shareholder. If he doesn’t join the board, Musk would not be subject to an agreement to keep his stake at no more than 14.9 percent. The billionaire behind Tesla Inc. and SpaceX has been vocal about changes he’d consider at the social media platform. Musk wasted no time in appealing to users about prospective moves from turning Twitter’s San Francisco headquarters into a homeless shelter and adding an edit button for tweets, to granting automatic verification marks to premium users. Those open musings drew in even Amazon.com Inc. founder and space-faring rival Jeff Bezos, among other high-profile personalities. Musk and Twitter executives had been expected to host a town-hall for employees this week, though it’s uncertain if that will proceed. Representatives for Musk and Twitter declined to comment. Musk ’s tweets have enthralled the social media sphere since the revelation of his stake. Twitter announced shortly after that the entrepreneur would be joining its board, spurring widespread debate. Several market-watchers tweeted that Musk

Elon Musk Photographer: Patrick Pleul/AFP/Getty Images/Bloomberg News

may be staying off the board to avoid potential conflicts of interest in future— were he to consider increasing his stake of Twitter or acquiring it outright. Musk, CEO of automaker Tesla, is the world ’s richest man, according to the Bloomberg Billionaires Index. He’s also one of the biggest personalities on Twitter and has regularly stirred controversy on the platform. The billionaire could face scrutiny from United States regulators by disclosing his massive stake days later than regulations allow, and because he revealed it in a filing typically reserved for passive investments. Ascending to Twitter’s board so swiftly after the disclosure could have complicated that process. Musk is already seeking to exit a 2018 deal with the SEC that put controls in place related to his previous tweeting about Tesla. Citing internal company messages, the Washington Post on Thursday reported that some workers in recent days have expressed concern on Twitter’s employee Slack channels that Musk could inflict damage to the company’s culture, as well as make it harder for people to do their jobs. “Let’s tune out the noise, and stay focused on the work and what we’re building,” Agrawal said in his Sunday memo to employees. Bloomberg News

Companies BusinessMirror

Tuesday, April 12, 2022

Strong demand for property allows GERI to post profit

By VG Cabuag

@villygc

lobal-Estate Resorts Inc. (GERI), a unit of Andrew Tan's property developer Megaworld Corp., on Monday said its income in 2021 grew 15 percent to P1.5 billion from last year’s P1.3 billion on the resumption of construction activities in its projects. GERI’s income was still 21 percent lower when compared with its 2019 income of P1.91 billion. Consolidated revenues for 2021 came in at P5 billion, some 3 percent lower than the previous P5.19 billion and 39 percent lower compared with P8.29 billion in 2019. “For 2021, we continued to capitalize on the strong demand for

properties in the provinces. Aside from the intrinsic attractiveness of owning a place that allows you to commune more closely with nature, the past couple of years also highlighted the potential of owning real estate as an investment. In fact, the underlying land values for our offerings continued to appreciate at a brisk pace in spite of

the pandemic,” company president Monica T. Salomon said. Real estate sales contributed the lion’s share of revenues for 2021, registering a mere 3-percent increase to P3.7 billion from the previous year, in line with the expansion in construction activity. Real estate sales for the fourth quarter alone came in at P1 billion, 49 percent higher than the same period last year. Last year, GERI said it continued to bank on the strong demand for leisure developments, with reservation sales growing by 25 percent year-on-year to P17.2 billion. Boracay Newcoast led the company’s property sales with P4.1 billion worth of projects sold, followed by Eastland Heights and Alabang West, which registered sales amounting to P3.6 billion and P3.4 billion, respectively. The rest of GERI’s offerings also registered demand with Arden Botanical Estate, Southwoods City, and Twin Lakes combining for P5 billion

in sales during the year. Meanwhile, the company’s leasing revenues declined by a third to P409 million as consumer confidence remained subdued for the majority of 2021. Revenue from hotel operations also declined by 27 percent to P146 million in 2021 from P201 million in the previous year as a result of prevailing travel restrictions. The relaxing of restrictions in the fourth quarter of 2021 led to a resurgence in bookings, resulting in P78 million in revenues. “The increased economic activity in the last couple of months of the year has really been a boon for us. Furthermore, the relaxation of travel requirements will help sustain the ramp up in operations of our hotels which rely a lot on leisure and tourism-related activities,” Salomon said. GERI has eight integrated tourism developments across the country covering more than 3,300 hectares of land.

ACEN finalizes loan deal with banks

C ENERGY Corp. (ACEN) has finalized an amended and restated omnibus loan and security agreement for its wholly-owned subsidiary, South Luzon Thermal Energy Corp. (SLTEC), with the Bank of Philippine Islands and Rizal Commercial Banking Corp. It said Monday that the loan facility--up to P13.7 billion-- is intended to refinance SLTEC’s outstanding P9.8 billion loan facility; fund the partial redemption of capital in SLTEC held by ACEN; and finance other transactionrelated expenses. ACEN, in turn, shall use the proceeds of the equity redemption to reinvest in renewable energy projects. ACEN earlier announced its commitment to net-zero greenhouse gas emissions by 2050 in November last year. This goal is supported by key milestones that will bring ACEN generation output to 100 percent renewable energy by 2025. Through this mechanism, ACEN’s coal-fired power plant with a capacity of 244 MW in Calaca, Batangas shall be decommissioned by 2040, 15 years ahead of the end of its technical life. This transaction shall serve as a pioneer energy transition financing in the country. The concept adopts the principles of the Energy Transition Mechanism (ETM) being piloted by the Asian Development Bank (ADB) in South and Southeast Asia. ETM aims to use public, private, and philanthropic financing to provide low-cost capital to coal-fired power plants to accelerate their retirement

and help jumpstart reliable and affordable clean energy. ADB had announced an ETM partnership involving the Philippines and Indonesia at COP26 in Glasgow last year. ETM is also consistent with the Department of Finance’s goal to retire coal-fired power plants and transition to clean energy. “In leading the energy transition, enabling mechanisms such as the ETM help accelerate our shift to a low carbon growth path and unlock new renewable energy investments,” said Eric Francia, ACEN President. “It is through this shared commitment between the public and private sectors towards achieving a low carbon economy, and our collective action for a sustainable and inclusive future that we can truly make an impact on our climate goals.” BPI Capital Corp. is the mandated lead arranger and sole bookrunner, while RCBC Capital Corporation is the lead arranger. “Energy transition will not be possible without responsible and proactive private sector actors. We commend the Ayala group and ACEN for the signing of this groundbreaking transaction, which is consistent with ADB’s Energy Transition Mechanism to provide a pathway from fossil fuels to renewable energy. Their actions demonstrate that we can all accomplish more together, and that we have no time to wait when it comes to the accelerated decommissioning of coal-fired power,” said Ahmed Saeed, ADB Vice President. Lenie Lectura

mutual funds

April 11, 2022

NAV

One Year Three Year Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

225.9

5.94%

-5.39%

-3.14%

-3.08%

ATRAM Alpha Opportunity Fund, Inc. -a

1.5018

15.64%

-2.7%

0.78%

-9.76%

7.05%

-8.93%

-5.72%

-3.43%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1267

Climbs Share Capital Equity Investment Fund Corp. -a 0.7444 -0.76%

-7.86% n.a.

-1.6%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6875 0.69%

-7.64% n.a.

-10.82%

First Metro Save and Learn Equity Fund,Inc. -a

5.0705

First Metro Save and Learn Philippine Index Fund, Inc. -a

-3.03%

-0.78%

-2.16%

0.7555

11.83%

-5.25%

-4.22%

-11.9% n.a.

-8.23%

MBG Equity Investment Fund, Inc. -a

86.66

-11.05%

PAMI Equity Index Fund, Inc. -a

46.2545

5.59%

-4.28%

-1.8%

-3.89%

Philam Strategic Growth Fund, Inc. -a

484.97

5.73%

-4.04%

-1.87%

-3.14%

Philequity Dividend Yield Fund, Inc. -a

1.3653

22.88%

1.02%

1.46%

0.66%

Philequity Fund, Inc. -a

35.6806

9.08%

-3.07%

-0.42%

-2.5%

0.9205

8.22%

-4.3% n.a.

-2.22%

Philequity MSCI Philippine Index Fund, Inc. -a Philequity PSE Index Fund Inc. -a

4.797

6.97%

-3.52%

-1.07%

-3.3%

Philippine Stock Index Fund Corp. -a

796.99

6.22%

-3.67%

-1.16%

-3.8%

Soldivo Strategic Growth Fund, Inc. -a

0.7227

-3.97%

7.02%

-8%

-3.94%

7.26%

-5.86%

-2.28%

-3.63%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a

0.9078

5.85%

-3.96%

-1.42%

United Fund, Inc. -a

6.41%

-3.71%

-0.16%

-2.71%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6385 3.3441

-3.55%

-3.89%

Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a

1.1649

Philippine Stock Index Fund Corp. -a

972.33 n.a. n.a. n.a. n.a.

12.7% n.a. n.a.

0.19%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

107.5194

6.79%

-3.4%

-0.72%

-3.55%

Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b

$1.0129

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6693

-20.56%

-1.02%

1.64%

-10.08%

-3.2%

9.1%

8.77%

-9.59%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a

1.6119

-1.43%

-2.42%

-1.66%

-4.73%

ATRAM Philippine Balanced Fund, Inc. -a

2.212

1.79%

-1.67%

-0.97%

-3.05%

First Metro Save and Learn Balanced Fund Inc. -a 2.649

5.13%

-0.17%

0.83%

-1.56%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2069

9.18% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

0.87%

1.9766

4.74%

1.09%

PAMI Horizon Fund, Inc. -a

3.6621

1.99%

-0.31%

-0.1%

-2.74%

Philam Fund, Inc. -a

16.4093

1.93%

-0.54%

-0.17%

-2.59%

Solidaritas Fund, Inc. -a

2.0823

3.17%

-1.15%

-0.33%

-1.84%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5531 3.86%

-2.85%

-0.76%

-2.58%

Sun Life Prosperity Dynamic Fund, Inc. -a

-2.02%

-0.35%

-2.83%

0.9272

9.3%

-1%

-1.99%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a

0.9458

-1.71%

-2.03% n.a.

-4.45%

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.9024

2.35%

-3.62% n.a.

-4.46%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.8917

2.81%

-3.95% n.a.

-4.52%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03512

-7.21%

-0.86%

-0.18%

-7.43%

-11.31%

0.17%

1.46%

-5.54%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.3889 -4.71%

5.83%

6.06%

-8.6%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1037 -6.15%

1.77%

2.32%

-7.92%

PAMI Asia Balanced Fund, Inc. -b

$1.008

Bond Funds Primarily invested in Peso securities (shares)

Smart Broadband franchise extended

resident Rodrigo R. Duterte signed new laws, which extended the telecommunication franchise of Smart Broadband Inc. and five other companies. Three other measures were also signed into law last week, which allowed three other organizations to start their own broadcast operations. Under Republic Act (RA) 11678, the franchise of Smart Broadband Inc. was extended by another 25 years, which

will allow it to continue constructing, installing, establishing, maintaining, leasing and operating wire and other wireless telecommunication systems nationwide throughout the Philippines. Duterte also signed laws which provided a similar privilege to Mati Telephone Corporation in Davao Oriental (RA 11674); Odiongan Telephone Corporation in Romblon (RA 11675); R.C. Yulo Telephone System, Inc. in the municipalities of Binalbagan, Hinigaran, Pontevedra, Murcia, Himamaylan, and Isabela, Province of Negros Occidental (RA 11676); Marbel Telephone System Inc. in South Cotabato, Sultan Kudarat, and Sarangani (RA 1677); and the Bicol Telephone and Telegraph Inc. in Albay and Sorsogon (R A 11679). Samuel P. Medenilla

ALFM Peso Bond Fund, Inc. -a

373.65

0.94%

2.45%

2.42%

ATRAM Corporate Bond Fund, Inc. -a

1.8874

-1.16%

0.1%

0.12%

-0.17% 0.14%

Cocolife Fixed Income Fund, Inc. -a

3.2394

0.65%

2.45%

3.6%

-0.14%

Ekklesia Mutual Fund Inc. -a

2.2113

-1.63%

0.83%

1.12%

-1.79% -0.37%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4171 -0.42%

2.33%

1.83%

Philam Bond Fund, Inc. -a

4.2977

-3.36%

2.22%

1.15%

-2.23%

Philam Managed Income Fund, Inc. -a

1.3188

0.21%

3.34%

2.82%

-0.02%

Philequity Peso Bond Fund, Inc. -a

3.9314

-0.75%

2.93%

2.47%

-0.87%

Soldivo Bond Fund, Inc. -a

1.0136

-1.31%

3.35%

1.89%

-1.42%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1664

-0.14%

3.18%

3.09%

-0.66%

Sun Life Prosperity GS Fund, Inc. -a

-0.85%

2.39%

2.4%

-0.81%

1.7166

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a

$484.36

0.46%

2.19%

2.12%

-1.06%

ALFM Euro Bond Fund, Inc. -a

Є215.57

-1.85%

-0.05%

0.46%

-2.02%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1102

-5.6%

-1.6%

-0.11%

-7.78%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0248 -3.88%

-0.53%

-0.08%

-4.62%

PAMI Global Bond Fund, Inc -b

$0.9478

-9.51%

-3.71%

-2.36%

-7.33%

Philam Dollar Bond Fund, Inc. -a

$2.3348

-5.25%

1.16%

1.22%

-6.82%

$0.0611388

-2.27%

1.72%

1.44%

-1.85%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.917 -6.55%

-0.65%

-0.17%

-8.74%

Philequity Dollar Income Fund Inc. -a

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a

131.52

1.25%

2.46%

2.52%

First Metro Save and Learn Money Market Fund, Inc. -a

1.0609

1.04%

1.74% n.a.

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3211

1.53%

2.33%

2.5%

0.25% 0.3%

0.42%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0622

0.64%

1.26% n.a.

0.15%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

45.3921 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3064

6.76% n.a. n.a.

-5.53%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

$0.9105

-8.03% n.a. n.a.

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

c - Listed in the PSE.

-6.13%

d - in Net Asset Value per Unit (NAVPU).

1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

April 11, 2022

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALs

BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PHIL NATL BANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG MEDCO HLDG PHIL STOCK EXCH

98,194,995 7,049,802 259,220,206.50 1,611,720 33,800 4,185,660 25,748,691.50 2,477,000 21,600 289,778 38,647,021 29,726,251.50 6,240 31,000 161,520 89,050 97,440

-28,853,667 6,055,022 -135,560,394 -33,800 -1,423,403 5,026,853.50 19,500 -21,000,212 22,160,106 91,350

INDUSTRIAL AC ENERGY 8.55 8.58 8.54 8.6 8.46 8.55 6,381,800 54,526,327 1.01 1.03 1.01 1.01 1.01 1.01 32,000 32,320 ALSONS CONS ABOITIZ POWER 35.75 35.95 36 36 35.65 35.75 406,300 14,530,600 0.405 0.41 0.41 0.41 0.405 0.405 1,250,000 507,400 BASIC ENERGY 25.2 25.4 25.2 25.7 25.1 25.2 85,900 2,175,550 FIRST GEN FIRST PHIL HLDG 69.95 70 70 70.05 69.95 69.95 47,750 3,341,473.50 371.6 372.4 373.8 374 370.2 372.4 296,950 110,559,190 MERALCO 19.9 19.96 19.72 19.98 19.66 19.9 331,200 6,565,034 MANILA WATER PETRON 3.29 3.33 3.32 3.34 3.28 3.29 321,000 1,064,400 4.55 4.9 4.9 4.9 4.9 4.9 1,000 4,900 PETROENERGY 10.3 10.4 10.4 10.48 10.4 10.48 2,100 21,848 PHX PETROLEUM SYNERGY GRID 12.3 12.34 12.3 12.34 12.26 12.3 3,104,700 38,184,368 18 18.1 17.84 18 17.6 18 15,400 276,058 PILIPINAS SHELL SPC POWER 14.6 14.66 14.4 14.68 14.4 14.66 17,600 256,826 1.8 1.81 1.8 1.81 1.77 1.81 32,904,000 58,939,050 SOLAR PH 14.14 16.74 14.12 16.74 14.12 16.74 1,600 25,212 VIVANT AGRINURTURE 4.94 4.95 5 5.08 4.89 4.95 1,275,500 6,372,351 AXELUM 2.42 2.49 2.5 2.5 2.42 2.42 320,000 778,430 23.3 23.5 23.5 23.6 23.15 23.5 1,499,200 35,225,590 CENTURY FOOD DEL MONTE 14.18 14.48 14.18 14.18 14.18 14.18 17,400 246,732 DNL INDUS 7.59 7.6 7.68 7.68 7.59 7.59 121,600 927,159 14.04 14.12 14.1 14.16 13.98 14.04 3,008,900 42,213,200 EMPERADOR SMC FOODANDBEV 62.05 62.5 62.9 62.9 62.05 62.5 14,290 892,244.50 0.57 0.59 0.6 0.61 0.57 0.57 10,064,000 5,851,510 FIGARO COFFEE 0.57 0.59 0.59 0.6 0.57 0.6 140,000 81,450 ALLIANCE SELECT FRUITAS HLDG 1.1 1.12 1.13 1.13 1.11 1.12 1,540,000 1,722,980 107 107.1 107 108.4 106.9 107.1 5,070 542,373 GINEBRA 219 219.4 219.8 221.6 219 219 331,880 72,871,618 JOLLIBEE KEEPERS HLDG 1.23 1.24 1.21 1.23 1.2 1.23 1,967,000 2,395,560 6.2 6.24 6.1 6.3 6.06 6.2 36,300 222,516 MAXS GROUP MG HLDG 0.133 0.135 0.135 0.135 0.135 0.135 480,000 64,800 12.8 12.9 13.12 13.26 12.8 12.8 5,970,400 77,216,960 MONDE NISSIN 8.35 8.59 8.2 8.7 8.2 8.35 1,152,700 9,788,257 SHAKEYS PIZZA ROXAS AND CO 0.57 0.58 0.57 0.58 0.56 0.57 181,000 103,220 4.35 4.37 4.39 4.39 4.3 4.37 25,000 107,930 RFM CORP 121 121.1 120.9 121.4 119.3 121 317,100 38,348,854 UNIV ROBINA VITARICH 0.61 0.63 0.61 0.63 0.61 0.63 3,328,000 2,091,340 2.7 2.72 2.78 2.78 2.53 2.72 17,000 45,410 VICTORIAS 44.5 55 55 55 55 55 150 8,250 CONCRETE B CEMEX HLDG 0.86 0.87 0.89 0.89 0.86 0.86 913,000 788,520 EAGLE CEMENT 12.92 13.34 12.98 12.98 12.92 12.92 2,900 37,606 4.4 4.47 5.07 5.07 4.38 4.41 8,703,200 38,798,709 EEI CORP HOLCIM 5.53 5.56 5.58 5.6 5.53 5.53 92,700 516,557 5.09 5.1 5.1 5.2 5.09 5.1 178,000 908,203 MEGAWIDE 19.5 19.52 19.48 19.5 19.48 19.5 49,100 957,208 PHINMA VULCAN INDL 0.96 0.97 0.97 0.97 0.93 0.95 828,000 792,820 1.78 1.82 1.8 1.84 1.77 1.82 126,000 226,450 CROWN ASIA 1.11 1.14 1.14 1.14 1.14 1.14 1,000 1,140 EUROMED MABUHAY VINYL 4.3 4.41 4.41 4.41 4.41 4.41 3,000 13,230 5.67 5.74 5.67 5.67 5.67 5.67 100,000 567,000 PRYCE CORP 19.44 19.7 19.6 19.6 19.56 19.6 7,000 137,150 CONCEPCION GREENERGY 1.52 1.53 1.53 1.54 1.49 1.53 4,367,000 6,610,180 7.7 7.72 7.75 7.75 7.72 7.72 35,800 277,003 INTEGRATED MICR IONICS 0.71 0.72 0.71 0.72 0.71 0.71 293,000 208,530 6.2 6.3 6.28 6.3 6.28 6.3 2,700 16,980 PANASONIC 1.1 1.11 1.08 1.11 1.08 1.11 387,000 425,150 SFA SEMICON CIRTEK HLDG 3.12 3.13 3.18 3.19 3.1 3.14 483,000 1,513,940

1,319,801.00 -1,655,470 -20,400 -824,605 324,374 32,819,720 107,962 526,590 -5,120,000 -30,484 5,249,970 -20,329 -418,850 2,055,035 -246,732 72,653 -10,850,328 -173,969 74,790 -30,240 -363,833 -26,795,390 -67,080 -31,439,346 3,404,598.00 -21,930 966,353 -126,620 355,099 -153,255 10,740 -136,000 25,542 -9,360

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG GT CAPITAL JG SUMMIT LOPEZ HLDG LT GROUP METRO PAC INV PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SEAFRONT RES TOP FRONTIER WELLEX INDUS ZEUS HLDG

130.1 12.16 98.6 26.8 6.79 8 54.95 18.86 95.15 19.62 106 84.45 1.97 3.7 2.65 0.295 203

1.06 3.68 777.5 55.8 11.92 9.03 0.9 0.57 0.58 4.93 9.15 514.5 55.8 3.01 8.94 3.82 1.44 0.88 865 107 2.41 114.4 0.28 0.158

131 12.18 100 26.95 8.14 8.09 55 18.9 107.9 19.98 107.3 84.5 2.07 3.89 2.72 0.335 204

1.07 3.96 778 56.8 12 9.18 0.94 0.58 0.59 4.96 9.16 519 56 3.25 8.97 3.83 1.45 0.9 869 107.6 2.79 115 0.285 0.159

132 12.16 98.5 27 6.76 8.08 55 18.94 108 19.76 109 84.85 2.08 3.87 2.67 0.3 203

1.06 3.67 779 57 12.1 9.03 0.9 0.6 0.59 4.91 9.08 514 56.45 3.25 8.94 3.84 1.46 0.93 865 108.9 2.41 115 0.285 0.16

132 12.18 100 27 6.76 8.15 55.2 18.94 108 20.1 109 84.85 2.08 3.89 2.83 0.335 203

1.08 3.67 792.5 57 12.1 9.04 0.94 0.6 0.59 4.97 9.21 522 56.85 3.28 9.05 3.84 1.46 0.93 875 108.9 2.41 115 0.285 0.16

130.1 12.14 97.35 26.8 6.76 8 54.6 18.9 108 19.46 106 84 2.08 3.87 2.65 0.29 203

1.06 3.67 775 55.8 11.92 9.03 0.9 0.57 0.58 4.91 9 514 55.7 3 8.91 3.81 1.44 0.9 860 106.9 2.41 114.4 0.285 0.159

130.1 12.18 100 26.95 6.76 8 55 18.9 108 20.1 106 84.45 2.08 3.89 2.73 0.335 203

1.07 3.67 778 55.8 11.92 9.04 0.94 0.58 0.58 4.96 9.15 514.5 55.8 3.25 8.95 3.83 1.44 0.9 865 107 2.41 114.4 0.285 0.159

751,470 579,100 2,608,450 60,100 5,000 520,900 468,110 131,000 200 14,600 363,300 352,060 3,000 8,000 60,000 300,000 480

3,290,000 1,000 127,590 691,630 1,288,900 80,100 615,000 2,067,000 57,000 53,000 11,566,900 91,850 1,531,010 77,000 1,248,100 10,967,000 65,000 82,000 273,200 59,150 148,000 500 40,000 860,000

3,508,060 3,670 99,316,895 38,712,172.50 15,426,036 724,103 553,540 1,187,130 33,130 262,590 105,913,842 47,499,930 85,741,760 237,840 11,180,156 41,976,080 94,280 74,040 236,615,445 6,344,238 356,680 57,470 11,400 136,890

PROPERTY ARTHALAND CORP 0.56 0.59 0.56 0.56 0.56 0.56 18,000 10,080 34.3 34.4 34.9 34.9 34.3 34.3 5,796,100 199,901,935 AYALA LAND AYALA LAND LOG 4.77 4.78 4.8 4.8 4.71 4.78 214,000 1,016,150 1.02 1.03 1.03 1.03 1.03 1.03 107,000 110,210 ARANETA PROP 44.95 45 45.05 45.9 44.9 45 199,900 8,990,655 AREIT RT A BROWN 0.87 0.9 0.88 0.88 0.85 0.87 171,000 147,560 0.7 0.71 0.71 0.71 0.7 0.7 154,000 107,970 CITYLAND DEVT 0.092 0.093 0.093 0.093 0.093 0.093 200,000 18,600 CROWN EQUITIES CEB LANDMASTERS 3 3.01 3.03 3.03 2.97 3.01 450,000 1,350,680 0.4 0.41 0.405 0.41 0.405 0.41 850,000 345,950 CENTURY PROP CITICORE RT 2.58 2.6 2.6 2.61 2.58 2.58 2,088,000 5,405,230 DOUBLEDRAGON 8.78 8.84 8.84 8.84 8.78 8.78 57,000 501,226 1.56 1.57 1.56 1.57 1.55 1.56 4,008,000 6,242,220 DDMP RT DM WENCESLAO 6.78 6.8 6.87 6.87 6.78 6.8 37,800 257,229 0.226 0.23 0.23 0.23 0.23 0.23 230,000 52,900 EMPIRE EAST 0.25 0.26 0.25 0.26 0.25 0.26 5,880,000 1,494,100 EVER GOTESCO FILINVEST RT 7.29 7.33 7.37 7.37 7.23 7.33 131,900 963,190 FILINVEST LAND 1.04 1.05 1.04 1.05 1.03 1.05 33,349,000 34,684,170 0.88 0.9 0.88 0.88 0.88 0.88 20,000 17,600 GLOBAL ESTATE 8990 HLDG 13.36 13.66 13.6 13.88 13.32 13.66 271,500 3,705,740 0.94 0.98 0.98 0.98 0.93 0.94 441,000 415,820 PHIL INFRADEV 2.95 2.97 2.95 2.98 2.95 2.95 1,741,000 5,157,010 MEGAWORLD MRC ALLIED 0.237 0.238 0.24 0.24 0.237 0.238 6,010,000 1,434,360 17.74 17.76 17.72 17.96 17.7 17.76 714,200 12,690,818 MREIT RT 0.34 0.38 0.34 0.34 0.34 0.34 10,000 3,400 OMICO CORP PHIL ESTATES 0.42 0.435 0.42 0.435 0.42 0.435 630,000 269,250 2.4 2.5 2.48 2.52 2.38 2.5 1,299,000 3,222,120 PRIMEX CORP 7.29 7.35 7.38 7.43 7.29 7.29 1,552,600 11,383,757 RL COMM RT ROBINSONS LAND 19.98 20 20.25 20.25 19.98 20 2,004,200 40,095,809 0.216 0.23 0.211 0.23 0.211 0.23 780,000 169,900 PHIL REALTY ROCKWELL 1.4 1.45 1.45 1.45 1.45 1.45 20,000 29,000 2.56 2.6 2.56 2.56 2.56 2.56 10,000 25,600 SHANG PROP 2.81 2.97 2.98 2.98 2.8 2.97 2,005,000 5,614,880 STA LUCIA LAND SM PRIME HLDG 36.9 37 37.05 37.55 37 37 3,680,500 136,952,045 VISTAMALLS 3.21 3.44 3.29 3.29 3.29 3.29 5,000 16,450 1 1.04 1.04 1.04 1.03 1.04 105,000 109,030 SUNTRUST HOME VISTA LAND 2.73 2.75 2.75 2.76 2.7 2.75 609,000 1,664,250 SERVICES ABS CBN 12.9 12.92 12.94 13.1 12.74 12.9 150,700 1,946,526 15.86 15.88 15.9 15.92 15.8 15.88 1,513,300 23,979,430 GMA NETWORK MANILA BULLETIN 0.39 0.395 0.375 0.42 0.375 0.395 160,000 62,900 2,470 2,510 2,480 2,520 2,450 2,470 18,790 46,797,020 GLOBE TELECOM 1,828 1,835 1,839 1,839 1,827 1,828 23,425 42,853,305 PLDT APOLLO GLOBAL 0.046 0.047 0.045 0.047 0.044 0.046 532,100,000 24,208,300 29.15 29.2 28.7 29.35 28.7 29.2 3,490,700 101,707,575 CONVERGE 2.6 2.7 2.65 2.7 2.55 2.7 184,000 484,180 DFNN INC DITO CME HLDG 5.04 5.05 5.1 5.1 5.04 5.05 5,348,400 27,038,105 1.32 1.33 1.3 1.34 1.3 1.33 1,354,000 1,789,790 NOW CORP TRANSPACIFIC BR 0.325 0.33 0.33 0.335 0.325 0.325 4,880,000 1,591,100 7.35 7.51 7.5 7.5 7.32 7.5 8,400 62,762 2GO GROUP 13.26 13.78 13.34 13.34 13.3 13.3 26,400 351,586 ASIAN TERMINALS CHELSEA 1.57 1.6 1.52 1.6 1.51 1.6 189,000 291,560 CEBU AIR 48.7 49 47.45 52 47.45 48.7 2,200,900 109,167,880 223 223.8 222.2 225 221.2 223 582,400 129,868,522 INTL CONTAINER LBC EXPRESS 22.2 22.65 22.1 22.1 22.1 22.1 200 4,420 0.86 0.93 0.87 0.87 0.86 0.86 12,000 10,420 LORENZO SHIPPNG 5.69 5.7 5.5 5.74 5.5 5.7 895,600 5,080,111 MACROASIA METROALLIANCE A 0.97 1.02 0.99 0.99 0.99 0.99 1,000 990 6.35 6.4 6.15 6.4 6.15 6.4 31,100 197,040 PAL HLDG 0.7 0.72 0.7 0.71 0.7 0.7 36,000 25,400 HARBOR STAR ACESITE HOTEL 1.55 1.67 1.55 1.55 1.55 1.55 15,000 23,250 1.76 1.83 1.76 1.77 1.76 1.77 17,000 30,060 DISCOVERY WORLD 6.56 6.86 6.54 6.54 6.54 6.54 100 654 CENTRO ESCOLAR FAR EASTERN U 530 538 537 538 530 538 900 481,460 7 7.44 7 7.44 7 7.44 800 5,688 IPEOPLE 0.36 0.365 0.36 0.36 0.36 0.36 10,000 3,600 STI HLDG BELLE CORP 1.26 1.3 1.23 1.32 1.23 1.25 42,000 52,600 6.31 6.32 6.22 6.36 6.17 6.31 3,420,400 21,580,566 BLOOMBERRY PACIFIC ONLINE 1.55 1.67 1.68 1.68 1.67 1.67 44,000 73,500 1.23 1.27 1.24 1.27 1.21 1.27 191,000 232,600 LEISURE AND RES 0.99 1.03 1.01 1.03 0.98 1.03 720,000 731,760 PH RESORTS GRP PREMIUM LEISURE 0.465 0.47 0.455 0.47 0.455 0.47 11,920,000 5,556,650 PHILWEB 2.24 2.27 2.3 2.3 2.24 2.24 107,000 241,080 0.455 0.46 0.46 0.46 0.45 0.455 3,380,000 1,539,300 ALLDAY BERJAYA 5.54 5.69 5.69 5.69 5.69 5.69 100 569 7.78 7.81 7.79 7.8 7.61 7.78 222,400 1,727,008 ALLHOME 1.33 1.35 1.33 1.35 1.33 1.35 85,000 113,770 METRO RETAIL PUREGOLD 36.25 36.45 37 37.15 35.8 36.25 144,800 5,249,585 ROBINSONS RTL 55.4 55.45 56 56 55.1 55.4 326,720 18,102,196 67 67.8 68 68 67 67 234,310 15,812,175 PHIL SEVEN CORP SSI GROUP 1.11 1.12 1.12 1.12 1.1 1.11 1,754,000 1,951,500 26.5 26.55 25.5 26.6 25.2 26.5 2,736,900 71,719,955 WILCON DEPOT 0.85 0.86 0.85 0.87 0.84 0.85 249,000 211,480 MEDILINES PRMIERE HORIZON 0.54 0.55 0.54 0.55 0.54 0.55 1,518,000 827,400 MINING & OIL ATOK 5.64 5.92 5.75 5.92 5.75 5.92 5,000 28,960 APEX MINING 1.71 1.72 1.66 1.72 1.66 1.71 4,148,000 7,062,030 6.9 6.93 6.95 6.98 6.8 6.93 237,500 1,634,239 ATLAS MINING 7.4 7.49 7.48 7.49 7.01 7.49 147,200 1,077,154 BENGUET A BENGUET B 7.3 7.5 7.01 7.3 6.65 7.3 128,100 875,515 2.7 2.76 2.7 2.76 2.7 2.76 20,000 54,300 CENTURY PEAK 5.18 5.19 5.07 5.18 5.07 5.18 30,800 158,375 DIZON MINES FERRONICKEL 2.95 2.96 2.91 2.95 2.86 2.95 11,186,000 32,410,760 0.173 0.185 0.173 0.173 0.173 0.173 130,000 22,490 GEOGRACE LEPANTO A 0.145 0.15 0.147 0.15 0.143 0.15 11,190,000 1,627,660 0.145 0.146 0.149 0.149 0.145 0.145 1,920,000 281,560 LEPANTO B 0.01 0.011 0.01 0.011 0.01 0.011 26,600,000 288,300 MANILA MINING A MANILA MINING B 0.01 0.011 0.01 0.01 0.01 0.01 3,000,000 30,000 1.55 1.56 1.56 1.56 1.53 1.55 677,000 1,040,770 MARCVENTURES 0.97 0.99 0.97 0.97 0.97 0.97 39,000 37,830 NIHAO NICKEL ASIA 7.69 7.7 7.74 7.75 7.58 7.69 1,981,200 15,181,826 ORNTL PENINSULA 0.94 0.95 0.95 0.96 0.94 0.94 9,000 8,490 5.34 5.35 5.35 5.35 5.28 5.34 402,500 2,133,457 PX MINING SEMIRARA MINING 30.8 30.9 30.7 30.9 30.1 30.9 5,759,900 175,978,065 ACE ENEXOR 16.2 16.6 16.6 16.6 16.06 16.6 44,000 720,510 0.011 0.012 0.011 0.012 0.011 0.012 2,600,000 28,700 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 200,000 2,200 0.0091 0.0094 0.0092 0.0092 0.0092 0.0092 16,000,000 147,200 PHILODRILL 5.34 5.4 5.39 5.58 5.2 5.4 938,400 4,987,875 PXP ENERGY PREFFERED HOUSE PREF B 99.4 101 101 101 101 101 150 15,150 503.5 514.5 504 505.5 503 503.5 2,000 1,007,570 AC PREF B1 AC PREF B2R 505 509 505 505 505 505 14,000 7,070,000 48.4 48.5 46.55 48.75 46.55 48.5 206,700 9,941,385 CEB PREF 99.8 99.9 100 100 99.8 99.8 12,470 1,245,482 DD PREF EEI PREF B 106.1 109.4 109.7 109.7 109.4 109.4 5,030 550,991 102.6 105 105 105 105 105 500 52,500 FGEN PREF G 1,010 1,035 1,010 1,010 1,010 1,010 2,170 2,191,700 GTCAP PREF B JFC PREF B 971 1,000 1,000 1,000 1,000 1,000 5 5,000 97 100.7 97 97 97 97 2,000 194,000 MWIDE PREF 4 PNX PREF 3B 100.8 101 100.8 101 100.8 101 190 19,160 975 980 979 979 979 979 910 890,890 PNX PREF 4 1,082 1,095 1,095 1,095 1,082 1,082 1,205 1,303,875 PCOR PREF 3B SMC PREF 2F 76.3 77.9 76.3 77.9 76 77.9 68,610 5,231,328 SMC PREF 2H 75.25 75.5 75.5 75.5 75.5 75.5 600 45,300 75 75.95 75.95 75.95 75.5 75.5 20,010 1,510,759.50 SMC PREF 2K TECH PREF B2D 54.6 55 55 55 55 55 30 1,650 PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 14.9 14.94 14.78 14.9 14.76 14.9 177,200 2,635,500 WARRANTS TECH WARRANT 0.61 0.62 0.65 0.66 0.61 0.61 149,000 93,210

1,973,700 -25,554,850 -3,523,641.50 -6,978,498 -4,960 -9,504,238.00 2,708,950 -42,655,621.50 -4,787,924 19,389,550 9,000 -90,728,500 -1,850,673 -82,953,515 -180,390 -583,465 30,070 -1,629,120 203,731.00 159,520 68,350 -240,297 -1,537,440 -55,304 33,840 -1,135,750 -6,098,552 -4,622,561 31,253,580 56,789,545 -789,780 -22,422,800 -8,447,955 57,300 38,436,495 5,800,595.00 -36,890 -30,200 -9,689,905 44,932,022 -153,480 -52,600 -6,117,166 44,390 -9,300 33,900 27,300 33,272 1,430,855 -1,197,379.50 -517,960 -577,060 2,496,345 -52,910 -75,550 -22,506 66,595 54,300 -2,327,890 6,431,712 26,598 67,407,555 -68,464.00 1,181,975 -708,830 -237,000 610,400 -

SMALL & MEDIUM ENTERPRISES

ALTUS PROP HAUS TALK ITALPINAS MAKATI FINANCE MERRYMART XURPAS

16.5 1.15 0.9 2.16 1.8 0.315

16.7 1.18 0.93 2.49 1.81 0.32

EXHANGE TRADE FUNDS

FIRST METRO ETF

107.6

109.5

16.5 1.19 0.93 2.16 1.78 0.315

16.5 1.19 0.93 2.16 1.82 0.315

16.16 1.15 0.91 2.16 1.77 0.315

16.5 1.15 0.93 2.16 1.81 0.315

4,600 222,000 113,000 8,000 1,089,000 200,000

75,764 257,190 102,950 17,280 1,947,890 63,000

-1,590 8,060 -157,140 -

109.5 109.5 107.6 107.6 32,490 3,520,124 1,789,341

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Tuesday, April 12, 2022

Pre-need industry income surges to ₧2.1B

By Bernadette D. Nicolas

@BNicolasBM

HE pre-need industry saw its total net income surging to P2.1 billion last year as it sold more life plans amid the Covid-19 pandemic. Latest data from the Insurance Commission showed total net in-

come of the industry jumped by 36.73 percent from P1.55 billion

in the same period in 2020. Of the 11 operational pre-need companies that submitted their financial performance report to the regulator, six reported having net income during the period while the rest reported net loss. There are currently 12 licensed pre-need companies but the Insurance Commission said New Life Memorial Plan is non-operational since it obtained its license in 2020 as it has yet to have its life plan product approved. Topping the list of pre-need

companies in terms of total net income is Saint Peter Life Plan Inc. with P2.2 billion. Insurance Commissioner Dennis B. Funa said the growth in the pre-need industry’s net income was driven by the rise in sales of memorial or life plans during the period. Life plans accounted for the bulk of the 564,579 total plans sold last year. Sales of life plans soared by 49.59 percent year-on-year to 563,186 from 376,495 in 2020. On the other hand, pension

plans dropped by 28.34 percent to 1,393 from 1,944 in the previous year. “The increase may be attributable to the increase in awareness on the importance of pre-need plans during the time of pandemic. Saint Peter contributed the majority of the plan sold with around 540,236 sold in 2021,” Funa told the BusinessMirror in a message. Nonetheless, pre-need companies’ total premium income l a st yea r h it P19.76 bi l l ion, posting a double-digit growth

of 11.06 percent from P17.79 billion in 2020. Meanwhile, pre-need industry players’ assets rose by 9.47 percent year-on-year to P111.63 billion from P101.98 billion. Total industry’s net worth, however, dipped to P17.78 billion from P18.05 billion in 2020. Pre-need reserves, which include benefit obligations/payables as mandated by the Pre-Need Code, climbed by 11.56 percent to P89.97 billion from the previous year’s P80.65 billion.

Investors flock to short-term securities as oil prices ease

HE Bureau of the Treasury sold P19 billion in Treasury Bills (T-bills) on Monday as investors flocked to short-term securities and submitted lower bids. This was an upsize from its P15billion offering after it doubled the accepted non-competitive bids for the 91-day and 182-day T-bills, allowing it to raise a total of P7 billion each. It fully awarded P5 billion in 364-day T-bills. The drop in rates across all tenors compared to those from the previous auction paved the way for the auction committee’s decision, according to National Treasurer Rosalia V. De Leon. Tota l bids for the auction

Pru Life NBAPE This photo courtesy of Pru Life lnsurance Corp. of UK (Pru Life) shows

Insurance Commissioner Dennis B. Funa (right) with Chief Executive for Prudential in Asia and Africa Nic Nicandrou (left) during his courtesy visit to the chief of the regulator of the Philippines’s insurance industry. Pru Life UK maintains its number one position among life insurers in the Philippines in terms of New Business Annual Premium Equivalent for the year 2021, achieving a total NBAPE of P8.83 billion last year. photo courtesy of Pru Life lnsurance Corp. of UK

Manulife China Bank offers insurance plan for as low as ₧1 a day or P500 a year

ANULIFE China Bank Life Assurance Corp. (MCBL), the bancassurance partnership between Manulife Financial Corp. and China Banking Corp., announced it is selling a term insurance plan that offers life protection or accident and medical reimbursement, for as low as P1 a day or P 500 a year. Exclusive to CBS China Bank Savings customers, the plan called “Secure Pinoy” is available in four annual premium plans: P500, P1,000, P2,500 or P 5,000, the company said. For the P500 entry-level plan, customers can get P35,000-worth of life insurance coverage for one year or P200,000 coverage for death due to an accident plus P 10,000 coverage for accidental medical reimbursement. MCBL CEO Sandeep Deobhakta

cited the firm’s third “Asia Care Study” as impetus for the product. Deobhakta said the study revealed that 91 percent of Filipinos surveyed recognize the importance of insurance and 86 percent intend to buy life insurance in the next 12 months. “By making life and health coverage more widely available to Filipinos, we can help them ensure stronger financial protection, focus on their life journeys and make their everyday better,” he was quoted in a statement as saying. “We at CBS want our clients to gain greater access to opportunities for life protection, which they can also extend to their families, so they are financially secure when it matters most,” CBS China Bank Savings President James Christian Dee was also quoted in the statement as saying.

reached P71.3 billion, making it almost five times oversubscribed compared to the P15-billion original offering. “Markets flocked to short term as oil prices ease with release of reserves from stockpile. Maturities also added support for reinvestment,” De Leon told reporters in a message. In a bid to offset the shortfall in Russian crude after the transcontinental country was hit with economic sanctions following its invasion of Ukraine, member nations of the International Energy Agency vowed to release 60 million barrels in the next six months while the United States committed to matching this move, according to reports.

extended from seven years to 10 years. Qualified for a 10-year loan term are: permanent employees who have at least 10 years of premium payments; members with existing home emergency loan program account; and, special members under agencies with memoranda of agreement on MPL with GSIS. Non-permanent government personnel who have at least 15 years of premium contributions, on the other hand, may pay for the loan in nine years. Previously, their maximum loan term was only five years. The uniform interest rate of 7 percent computed in advance will be applied to all borrowers. In the previous MPL, members with less than three years of paid premiums were charged 8 percent interest, while those with at least three years of premiums were charged 7 percent. “We will keep helping our mem-

raised P91.7 billion, more than onethird of its P250 billion programmed offering as investors demanded higher bid rates amid Russia-Ukraine war and the recent hawkish signals from the US Federal Reserve that it could further raise rates if necessary to rein inflation. This year, the government is set to borrow a total of P2.2 trillion, of which around 75 percent is expected to come from domestic sources. As of end-February this year, the national government’s outstanding debt rose to another record-high level of P12.09 trillion due to currency fluctuations and net financing from both domestic and foreign sources. Bernadette D. Nicolas

Tycoon Tan’s bank brings 10 effective ways to make forward property listing money online in 2022

ILLIONAIRE Lucio Tan’s Philippine National Bank (PNB) brought forward its plan to list its property unit, now aiming to float the asset by the end of this year to boost capital. That puts the listing of PNB Holdings Corp. ahead of the original 2023 schedule and will generate about P10 billion ($194 million) of additional capital, President and Chief Executive Officer Jose Arnulfo A. Veloso said in an interview. “As we continue to aspire for growth, we are going to need capital,” Veloso, 56, said. The lender had plans that didn’t push through because it was held back by its nonperforming loans and “we need to resolve our NPL issue first before we can proceed.” The rejigged plans at the firm that was once the country’s biggest bank comes as Tan’s business portfolio grapples with the aftermath of the pandemic shock that also sent its airline into bankruptcy. Veloso, who was CEO of HSBC Holdings Plc’s Philippine unit before joining PNB, said he also hopes to increasingly wind back almost 30 billion pesos of remaining provisions that the Tan-owned lender set aside during the Covid-19 crisis. Listing the PNB Holdings unit will help un-

lock the value of key properties, paving the way for a resumption of the bank’s search for a strategic investor to help grow retail lending, he said. PNB’s share price has lagged the Philippine Stock Exchange Index’s more than 50 percent rebound from its pandemic nadir in March 2020.

Other insights

EXCLUDING acquired assets, provisions and one-off items, PNB can sustain an ROE of at least 7 percent in the next three years and could reach 10 percent this year In three years, Veloso seeks to cut the share of large corporates to 25 percent from 66 percent currently and raise retail, which provides fatter margins, from 9 percent to 25 percent A key to boosting profitability is to raise its net interest income margin by increasing low-cost funds through PNB’s cash management services Still, foreign investors have continued to ask him about Tan’s successor ever since the death of the tycoon’s expected heir Lucio Tan Jr. in November 2019, Veloso said. “I have insulated the bank as much as possible,” he said, adding “that’s a question I can’t answer” and a matter that only Tan and his family can decide. Bloomberg News

GSIS to offer loans of up to P5M to help members HE Government Service Insurance System (GSIS) will open on April 23 the Multipurpose Loan (MPL) Plus program that offers a credit limit of P5 million. It also extended the maximum payment term to 10 years and relaxed the borrowers’ eligibility requirements. “We enhanced the MPL program based on the feedback from members in the previous MPL so we can offer a loan program that will best suit their needs,” President and General Manager (PGM) Rolando L. Macasaet was quoted in a statement as saying. He added the GSIS hopes it can help more members through the MPL Plus. Under MPL Plus, the credit limit has been raised from P3 million. The actual amount will depend on the borrowers’ paid premiums and monthly salary. The loan term has likewise been

On Monday’s auction, the 91day T-bills fetched an average rate of 1.25 percent, slipping by 13 basis points from the previous auction’s 1.38 percent. Meanwhile, the 182-day T-bills capped at an average rate of 1.555 percent, a 22.6-basis-point contraction from 1.781 percent recorded in the last auction. For the 364-day T-bills, rates dipped by 2.6 basis points to 1.857 percent from 1.883 percent. The Treasury programmed to raise P200 billion from the domestic debt market this month. Since Monday last week, the Treasury has so far sold P59.8 billion. Last month, the Treasury only

bers put their finances in order,” Macasaet was quoted as saying in the statement. “From the start, the objective of our loan program is to give our government workers access to cheap credit.” Moreover, GSIS relaxed the eligibility conditions of prospective applicants. Previously, members with arrearages in their GSIS Financial Assistance Loan and housing loan are not qualified to avail of the MPL. Now, under MPL Plus, they will be allowed to apply, but their arrearages under GFAL will be deducted from the proceeds of their loan. Qualified to apply for MPL Plus are regular and special GSIS members who have paid at least three months of premiums; are not on leave of absence without pay at the time of application; and have no pending administrative or criminal case. In addition, they should not belong to

an agency which has been tagged as suspended, and their net take-home pay should not go lower than the amount required under the General Appropriations Act after all monthly obligations have been deducted. Members may apply for the loan via the GSIS’s mobile app; wireless automated processing system kiosks located nationwide; e-mail; electronic GSIS Member Online; or, drop boxes located in all GSIS offices. “For the safety of both our clients and employees, we will only accept over-the-counter or in-person filing if the GWAPS kiosk is offline, or if the applicant has lost or defective electronic card or Unified Multipurpose Identification card; has unreadable biometrics; or is a temporary eCard holder,” Macasaet said. GSIS said it has disbursed P106 billion to 444,425 MPL availees last year.

NE of the most important realizations that many had in recent years while stuck at home is that there are a lot of ways to make money online. Indeed, the Internet provides income opportunities to those who are curious and willing enough to learn and try. Here’s a quick rundown of the 10 most effective ways you can earn online in 2022. I hope this list will give you an idea of which to pursue and later on help you in generating additional monthly cash flow. 1. Sell something online. Buy and sell essential items, like soap, alcohol or face masks. Sell baked goodies on Instagram. Try asking your social media friends what they often need, find a supplier for that item and then sell those to them. 2. Sell digital products. Write an ebook. Create stock photos and videos. Offer document templates. Sell white-label content. A friend recently made good money by selling a list of inspirational quotes, which social media managers and digital marketers often need. 3. Be an online freelancer. The most in-demand online jobs are writing and translation, graphic design, digital marketing, virtual assistance and programming. If you have these skills, then all you need is to find clients. 4. Do online work. There are online jobs that don’t require expert skills. You can work as a data encoder, survey respondent, software tester, email reader and file sorter, among others. 5. Be a content creator. Write a blog. Start a Youtube channel. Create a podcast. Do live streaming. Grow your social media following. Later on, you can earn from sponsorships and advertisements or sell your own products through your content. 6. Start a website. Build a virtual forum. Launch an online magazine. Create an online store. It requires some technical skills, but you can always hire someone to do it for you. 7. Create an app. Launch a mobile application. Develop webbased software. Offer an automated online service. Again, this would require technical skills, which you

Fitz Gerard Villafuerte

personal finance can always outsource. What’s more important is that unique idea that you have. 8. Teach and help others. Offer mentoring or coaching services. Launch an online course. Start a virtual consultancy business. Be a resource expert and offer your services as a speaker or trainer in corporate online events. 9. Earn from the financial markets. Be a stock trader. Try your skills at forex trading. Go into commodities, precious metals and/ or cryptocurrencies. Explore global markets. The learning curve is reasonably shallow for becoming an equitable trader. 10. Be an affiliate. Study affiliate marketing. Or simply, promote products or services that give cash incentives for referrals. A lot of apps and software offer this. Or, just help a friend sell their products in exchange for a small commission. There are more ways to make money online. I gave you ten general methods to earn from the Internet today. You can choose one and do a deep-dive into more specific ways. And the good news is there are countless resources online that will help you learn them in greater detail. A simple search on Google and Youtube will give you the basics, while intermediate tips can usually be found in forums and Facebook groups. For expert-level advice, there are certain books and seminars you can pay for. The important lesson that I want you to realize is that there are hundreds (perhaps thousands) of income opportunities online that are just waiting for you to be discovered. So go ahead and find the one that will bring in the money this 2022. Fitz Villafuerte is a registered financial planner of RFP Philippines. To learn more about personalfinancial planning, attend the 95th RFP program this April 2022. To inquire, e-mail info@rfp.ph or text at 0917-6248110.

Art

BusinessMirror

Tuesday, April 12, 2022 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Today’s Horoscope

❶ A Hellenic

sculpture of a head from the ancient Libya city of Cyrene is displayed after it was returned by the United States.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Saoirse Ronan, 28; Claire Danes, 43; Retta, 52; Ed O’Neill, 76.

PHOTOS: AP

Happy Birthday: Make your move. Consider what makes you happy, and push to incorporate it into your daily routine. Self-improvement, honing your skills and setting yourself up for advancement will give you the confidence to go one step further than you’ve ever gone. Live up to your expectations, and the rewards you receive will give you hope for a better future. Your numbers are 5, 13, 20, 29, 32, 37, 44.

❷ A collection

of ancient pottery is displayed, as part of a cache of antiquities is returned to Libya.

ARIES (March 21-April 19): Follow through with intentions. Don’t let anyone push you in a direction you don’t care to go. Follow your instincts and your heart, and take charge. It’s up to you to pursue your goals and take responsibility for your happiness. HHHHH

❶

❷

US returns smuggled ancient artifacts to Libya

By Yousef Murad The Associated Press

RIPOLI, Libya—The United States on Thursday returned a cache of smuggled ancient artifacts to Libya as the oil-rich Mediterranean country struggles to protect its heritage against the backdrop of years of war, turmoil and unrest. The repatriated items include two sculptures dating to the 4th century BC from the ancient city of Cyrene. One, named the “Veiled Head of a Female,” was previously in the hands of a private collector of other illegal artifacts, according to a statement from the US Embassy in Libya. The other, also a Hellenic bust, had been at the Metropolitan Museum of New York since 1998, the statement said. Both were

displayed by Libyan antiquities officials at a reception ceremony in the country’s capital, Tripoli. Libyan antiquities authorities thanked American officials and law enforcement for the returned items, and said that they looked forward to future cooperation. The embassy credited the work of the Manhattan District Attorney’s office and Homeland Security Investigations officials for the recovery of the artifacts. “Although these antiquities were brought illegally to the United States by traffickers, legal efforts have succeeded in returning them to their country of origin,” the embassy statement read. Libya boasts many ancient Greek and Roman structures, along with a wealth of ancient artifacts in its major museum in the capital of Tripoli and in other museums countrywide, though its archeological sites

have been plundered for decades. Libya has been wrecked by chaos since a NATObacked uprising toppled and killed longtime dictator Moammar Gadhafi in 2011. The country was after that split for years between rival administrations in the east and the west, each supported by an array of militias and foreign governments. Large-scale fighting has only stopped in the past year, but Libyans have yet to unite under a single political leadership, despite strenuous UN-led efforts. The Greeks founded the settlement of Cyrene, close to the modern town of Shahat, in the 4th century BC. It was later incorporated into the Roman empire. The United Nations added Cyrene to the list of Unesco World Heritage sites in 1982 and it has been classified as a location that is particularly endangered due to neglect and looting since 2016. n

CCP launches grants to stimulate local creative economy

IN an effort to energize the local creative economy by generating original intellectual property (IP) content that reflects the country’s rich cultural heritage, the Cultural Center of the Philippines (CCP) Board of Trustees has earmarked around P20 million in development funding for the launching of the CCP Grants. The program provides financial, technical and educational support to Filipino creative businesses, content developers, artists and students. By supporting and encouraging Filipinos to create original content, the CCP hopes to produce a collection of original IP and build a national identity in terms of original Filipino content development. The goal is to showcase the world-class talent and ingenuity of Filipino artists.

“The global animation industry revenue is around $270 billion and the Philippines contributes to around $20 million to $30 million per year,” said CCP Board of Trustee Benedict Carandang. “We have an estimated 10,000 full-time artists supporting this industry.” Carandang added that of the $174.9 billion global gaming revenue, the local contribution stands at $1.38 million. Meanwhile, the Philippines has 1,000plus self-published titles, 266 published titles from 12 publishers, and an estimated 5,000 original IP creators in the comics industry. The hope, Carandang said, is that the CCP seed investment will help encourage future government legislators to support and fund parallel programs that can help stimulate the local creative economy. Under the program, Filipino content creators can pitch their ideas for a chance to win in any of the following three categories, namely: Game Development Grant, Animation Grant, and Comics Grant. For the Game Development Grant, potentially four SEC-recognized game development organizations will be awarded a maximum cap funding of P1.5 million each, along with a maximum of P300,000 each to independent game developers, to create and complete a digital game project with a mix of creative, cultural and commercial outcomes, and content derived from the CCP Encyclopedia of Philippine Art.

The Comics Grant offers P330,000 for six potential winners, while the Animation Grant has funding of P2 million each for four potential winners to bring to life five-minute animated short films. Both the animation and comics output must be developed around the theme of “Philippine Folktales, Myths and Legends.” Additionally, a training component with leading industry professionals will be integrated for the winners. “In this digital era, visual and literary arts in the form of animation, comics and even gaming have made an impact in the lives of the public,” said CCP Board of Trustee Nikki Junia. All these art forms are important to be given attention, as they can support the preservation, development and awareness of the culture and arts that will be engaging for today’s generation.” The CCP Grants program is supported by the Creative Content Creators Association of the Philippines (SIKAP), Game Developers Association of the Philippines (GDAP), Animation Council of the Philippines (ACPI), and KOMIKET. Filipino individuals and organizations at all stages of their careers are invited to join. The Game Development Grant Application form can be found at forms.gle/cvM1UNqLmWSEK6239, while the Animation and Comics Grant Application form can be accessed at forms.gle/7P6PNASVPsXhtgUo9.

TAURUS (April 20-May 20): Take the initiative to get things done. Don’t wait for someone to make a move. Step up and take charge. Your independence and leadership qualities will help you get things done and get ahead. Set high standards and expectations. HH

GEMINI (May 21-June 20): Make your point heard. Be direct about what you want and why. Set guidelines and boundaries, and stick to your plan. You don’t have to keep up with anyone. The only person you must please is yourself. HHHH

CANCER (June 21-July 22): Offer exciting suggestions. Bring about change that makes a difference to the outcome of something that matters to you. Update your look or your qualifications, and it will help you convince others that you are ready for a new challenge. HHHH

LEO (July 23-Aug. 22): Common sense will pay off. Put more thought into the way you handle your finances. Stretching your intake to fit your overhead will take pressure off you. Use charm and finesse, and you will make an impression on someone influential. HHH

VIRGO (Aug. 23-Sept. 22): Listen carefully, and respond with clarity. Share your vision, and consider similar experiences as guidelines to secure getting what you want. A good connection with someone who shares your sentiments will give you the courage to pursue your goal. HHH

LIBRA (Sept. 23-Oct. 22): Do it yourself if you want something done. Make use of your time and talent, and you’ll reach your destination. A reward will give you the incentive to pick up the pace and set your sights on something that encourages growth. HHH

SCORPIO (Oct. 23-Nov. 21): Tweak your space at work or home to make it convenient. Don’t begrudge yourself the time or pleasure of something that brings you joy or peace of mind. Refuse to let anyone dump responsibilities that don’t belong to you in your lap. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Take better care of your health and well-being. Don’t take a risk or let someone put you in a vulnerable position. Stay on top of your expenses, and refuse to overspend on something you don’t need. When pushed, push back. HH

CAPRICORN (Dec. 22-Jan. 19): Say what’s on your mind, but be ready to back your claims. Attitude will play a role in how well you do and who you impress. If a little charm is coupled with common sense and a willingness to compromise, you’ll gain ground. HHH

AQUARIUS (Jan. 20-Feb. 18): Do your homework; jot down facts and figures to back your words. Preparation is essential if you don’t want someone to railroad you into something unfavorable. Show compassion and offer suggestions, but do your own thing. HHH

PISCES (Feb. 19-March 20): Leave nothing to chance or unfinished. When it comes to delivering your promises, accuracy and promptness are the best ways to gain respect. Selfimprovement will turn out better than anticipated and boost your confidence. Romance is on the rise. HHH Birthday Baby: You are brave, disciplined and enthusiastic. You are prompt and helpful.

‘ba-dum-tss’ by michael b. berg The Universal Crossword/Edited by David Steinberg

ACROSS 1 Photograph 5 Alcoholic treat that jiggles 10 Free throw 14 Turkish currency 15 Fiji competitor 16 Brand of dog food 17 Rapper/actor in “SVU” 18 It might be hard to resist 20 Hawaiian geese 22 Dissenting votes 23 Swimwear in a Sisqo hit 24 Tiny particles 26 West of old Hollywood 27 Pranked using bathroom tissue, for short 28 Rest area? 32 Went after 35 ___ tai 36 Just all right 37 “Told ya!” 38 Drum stroke after a punchline...or a hint to interpreting the starred clues’ answers 41 West Bank grp. 42 How a WNBA game may end

44 45 47 49 50 51 55 58 59

Prefix with “binary” Attaches, like a patch Wage Car part that can be used as a swing Angsty genre Blush or foundation, e.g. Despises Honey ___! (cereal) Animal whose name means “laziness” 60 Environmentally friendly travel 63 End in ___ (come out even) 64 Prefix with “nautical” 65 Present-day deliveryman? 66 Name hidden in “copped an attitude” 67 Tricky tennis stroke 68 Like eyes after an all-nighter, maybe 69 Powerful hockey hit DOWN 1 Y-shaped weapon 2 More upscale 3 Large performance venue 4 Inventors’ documents 5 Jacuzzi feature 6 Smoothed (out)

7 8 9 10 11 12 13 19 21 25 26 28 29 30 31 32 33 34 35 39 40 43 46 48

Rides to the red carpet Drinks like a cat N.Y.’s Canadian neighbor Some families have two Oil, at a trattoria Atop One-in-a-million chance Slightly “___ Mario Bros.” Served as a segue for Process by which one cell becomes four Cry of contempt “My bad!” Capital by a fjord Apollo mission, e.g. Short golf stroke Actress ___ Mae Lee “Howdy, sailor!” AOL alternative The Simpsons bartender Semesters, e.g. Where a Christmas angel might be placed Young’uns, in Scotland “Are not!” comeback

49 51 52 53 54 55 56 57 58 61 62

Throw at Slacks fabric Tally 1986 Turner autobiography Low blow Photo in an actor’s portfolio Laptop brand Bull, in Spanish Like dissertation defenses Computer port letters Furious

Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Tuesday, April 12, 2022

HARMAN KARDON REIMAGINES MUSIC EXPERIENCE THROUGH SENSES Harman Kardon reimagines the music experience this summer, with the brand collaborating with five personalities for a series of video campaigns. Creating an extraordinary music experience with all five senses for this campaign are Magic Liwanag (Sight), a Manila-based photographer and rising star in the concert photography circuit; Moksha “Moki Gray” Alfonso (Smell), a creative director and designer specializing in events and floral styling; Cesca Litton-Kalaw (Hearing), a podcaster, host and sports broadcaster; Chef Miko Calo (Taste), a French-trained chef and coowner of Metronome restaurant; and Jacqe Gutierrez (Touch), CEO and co-founder of well-loved beauty brands Happy Skin, blk Cosmetics, and Seoul White. The campaign also features the following Harman Kardon products: Onyx Studio 7—with an elegant design crafted from premium materials with sleek, anodized aluminum handle as a sturdy base for ease of portability; Neo—delivering impeccable sound in a palm-sized portable package; Fly Bluetooth, which free the user from the nuisance of entwined earbud cords; Citation 100, which manages the user’s desired playlist through the built-in Google assistant, plus a sophisticated design and forefront audio quality; and Soundsticks 4, where extraordinary sound meets sculptural design in a stunning system that fills your space with vibrant treble and incredible bass. The series of video campaigns can be viewed on the brand’s official YouTube channel, and its Facebook and Instagram accounts. The Harman Kardon products are available at the Harman Kardon web site and official stores on Lazada and Shopee.

Sonic the Hedgehog 2 got off to a solid start at North American theaters.

‘Sonic 2’ steals weekend box office, but ‘Ambulance’ stalls

GLAIZA DE CASTRO and Xian Lim star in False Positive

GMA’s ‘Love Together This Summer’ campaign launched

IN the GMA (www.gmanetwork.com) summer campaign, fun-filled activities under the sun can now be enjoyed more, as shown by the stars of upcoming shows and specials this April and May, including Raya Sirena, Raising Mamay, False Positive, Apoy sa Langit, the “Eleksyon 2022” coverage, Jose and Maria’s Bonggang Villa, Love You Stranger and Bolera. Every Sunday beginning April 24, Sparkle love team Sofia Pablo and Allen Ansay can be seen in the afternoons with Raya Sirena, which tells the story of Raya (Sofia), who continues her journey of self-discovery both as a human and mermaid, and the importance of love for friends and family. Premiering in the afternoon block on April 25 is Raising Mamay, the heartwarming drama on the reversal of roles between a mother and her child. A teenage daughter, portrayed by Shayne Sava, takes care of her scornful mother, played by Ai-Ai delas Alas, whose brain function regressed after being shot in the head. The romantic comedy False Positive is set to air on May 2 in primetime. Bannered by Xian Lim and Glaiza de Castro, the series showcases a neglected wife who wishes in front of a magical fountain that results her husband carrying a fetus. Also airing on May 2 is Apoy sa Langit, which tells the unusual story of betrayal and family affairs. The drama is headlined by Maricel Laxa, who continues her small-screen comeback following her stellar performance in Mano Po Legacy. She is also joined by Zoren Legaspi, Mikee Quintos, with showbiz newcomer Lianne Valentin. As the country votes for its next leaders, GMA is all set to deliver the most comprehensive election coverage across all platforms through Eleksyon 2022: The GMA News and Public Affairs’ Election Coverage on May 9 and 10. It is headlined by the network’s top anchors and news figures led by Mel Tiangco, Mike Enriquez, Vicky Morales, Arnold Clavio, Howie Severino and Jessica Soho. And on May 14, catch the highly-anticipated TV comeback of reel- and real-life power couple Dingdong Dantes and Marian Rivera-Dantes in Jose and Maria’s Bonggang Villa. The weekly sitcom is about the most hospitable couple you’d ever meet who will start a garden bed-and-breakfast business. Meanwhile, also all set to air in prime time soon is Love You Stranger, top-billed by real-life young couple Gabbi Garcia and Khalil Ramos. The mystery romance series revolves around a film designer searching for the truth behind a shadow monster from folklore feared by her reclusive mother, and the charming young director whose next movie is about the same shadow creature. Concluding the program offerings for this summer is Kylie Padilla making her TV comeback with the original series Bolera this May 30. She plays a billiards prodigy who aims to prove herself worthy of the male-dominated sport and her struggles along the way. Joining her are Rayver Cruz and Jak Roberto. GMA’s newest summer campaign is accompanied by a music video for the song “Love Together This Summer” performed by Thea Astley and Anthony Rosaldo, with lyrics by Jann Fayel Lopez and arranged by Natasha L. Correos. For more stories about the Kapuso Network, visit www. gmanetwork.com.

By Lindsey Bahr | The Associated Press

ONIC the Hedgehog 2 sped to the top of the charts in its opening weekend, earning an impressive $71 million according to studio estimates on Sunday. Paramount’s PGrated sequel easily bested the weekend’s other major newcomer, Michael Bay’s Ambulance, which faltered in theaters. Sonic 2, which brings back the first film’s director, writers and cast, including James Marsden, Jim Carrey and Ben Schwartz, who voices the blue video game character, opened in 4,234 locations and actually surpassed its predecessor’s opening weekend. The first Sonic the Hedgehog opened over the Presidents Day holiday weekend in February 2020, earning $58 million in its first three days. “The normal pattern domestically is that sequels

slide a little bit,” said Chris Aronson, the president of domestic distribution for Paramount. “But we certainly bucked that trend.” For a sequel to open 22 percent above the first, Aronson added, is “quite remarkable.” Sonic 2 got mixed to positive reviews from critics and audiences were even more enthusiastic. They gave the CG/live-action hybrid a strong “A” CinemaScore. “The filmmakers did a great job of being in service of not only the general audience but Sonic fans themselves,” Aronson said. “Many feel it’s a bigger, better film than the first one.” It’s an important weekend not just for the Sonic franchise, but for PG-rated family films, too. comScore senior media analyst Paul Dergarabedian said that one of the big questions of the pandemic was whether families would return to movie theaters with seemingly limitless viewing options available at home. According to exit polls, families made up 58 percent of the Sonic 2 audience. “There’s been some indication that they wanted to go back with movies, like Sing 2, but it’s moved in fits and starts,” said Dergarabedian. “This says once and for all that families want to go back. It’s a really good indicator of things to come for family films in 2022 with Lightyear and the next Minions movie.” Sonic 2 is also the latest in a string of theatrical hits for Paramount in 2022, including Scream, Jackass Forever and The Lost City, which is still in the top five. “A lot of credit goes to our marketing and distribution teams,” Aronson said. “We’ve been judicious about picking our dates and knowing who

our audience was for each.” And their next release could be their biggest yet. Top Gun: Maverick opens on May 27. Meanwhile, Ambulance got off to a bumpy start in its first weekend. With an estimated $8.7 million in grosses, it opened behind Sony’s Morbius and The Lost City. Bay’s nail-biter about a botched bank robbery was released by Universal and stars Jake Gyllenhaal, Yahya Abdul-Mateen II and Eiza González. Its tepid launch proved a head-scratcher for many. Reviews weren’t terrible (it’s at a 69 percent on Rotten Tomatoes versus Sonic 2’s 67 percent) and on paper Ambulance appears to be the kind of throwback, big screen blockbuster spectacle that would draw significant crowds to the theaters. “This is a filmmaker who will forever be looked at as a blockbuster director, whether you like his movies or not. The bar is always raised for someone like that,” Dergarabedian said. “But this is a different kind of movie and I think that’s why we’re seeing these numbers. It’s not trying to be Transformers. If Bay’s name wasn’t on it, expectations wouldn’t be as high.” Sonic 2 wasn’t the only success of the weekend. A24’s critical darling Everything Everywhere All At Once expanded nationwide in its third weekend in theaters and earned $6.1 million from only 1,250 screens. “A24 has done a spectacular job of rolling it out on a platform release and building buzz,” Dergarabedian said. The film, directed by the Daniels and starring Michelle Yeoh, will expand to more theaters in the coming weeks. n

Girl groups sprout like mushrooms

Different girl groups are being launched one after the other, sprouting like mushrooms, and there seems to be no drought in discovering fresh, fierce and fabulous Filipino female talents. Beauty authority-turned-talent manager Bambbi Fuentes recently launched the five-member female band Gandaras, carefully selected from among 50 hopefuls through a rigid audition process. “It was not easy for us in the selection committee every time we needed to cut the list. It was also not easy for the girls since they have only a few minutes every time to show us their best performances during auditions,“ Fuentes shared, adding, “We were looking for the total package—talent, beauty, personality and the right attitude.” Fuentes and her business partner Tine Areola were both pleased with the results of the auditions,

and they introduced Christa Jocson, Mosh Gerodias, Mira Aquino, Shira Mae Tweg and Emcel Abuso as the new members of Gandaras. The girls, who can all sing and dance, have started to make their presence felt through appearances in various TV shows and in many election campaign sorties out of town. Singer and songwriter-turned-music label owner Nino Alejandro is proud of his new girl group Daydream, composed of Denise Silva, Kiara Dario, Awie de Guzman and Jom Logdat. After the group launched its debut single “Falling 4U” under Rebel Records Philippines, music aficionados took notice of the group’s potential right away and reckoned that this is a group which has truly gifted members who can stand out individually and collectively, and can do more than sing and dance. They can act and host, and can be very good spokespersons, too. The group, which shouldn’t be confused with a Korean all-female group with the same name, is currently promoting its second single, “Lumayo,” a collaboration of music experts from Manila and Los Angeles. Also, creating a big bang is G22, a four-member girl act from Cornerstone Entertainment that can rap, sing and move. Alfea, Bianca, Jaz and AJ make up G22 and they just released their debut song, “Bang!” “It took more than a year to train the girls, “ shared Erickson Raymundo, Cornerstone’s top honcho. “ We

have to make sure they are polished and ready before we give the green light. After Vxon, our all-male group, we are as excited to showcase G22. We want to contribute to the strengthening of P-pop because the Filipino talent is undeniable.” The latest to join this mushrooming of local girl groups is Calista, inspired by a Greek word meaning “most beautiful.” Calista launched its debut single “Race Car,” in a lavish program at the Novotel Hotel recently. The members—Denise Pello, Laiza Comia, Olive Bihay, Dain Leones, Anne Tenorio and Elle Pascual—were picked from more than 100 auditionees, according to Tyronne Escalante, who also sought out the help of Merlion Events Production in the search for the new members of Calista. “We also made sure the girls undergo personality development, body conditioning and intensive skills enhancement training to build their vocal strengths and smoothen their movements,” shared Escalante. “Calista represents girl power, and we aim to make them inspire more young people to stand up for what they feel strongly about, and to not be shy to let their voices be heard,” he added. Calista will have its first major concert come April 26 at the Smart Araneta Coliseum, where special guests like Andrea Brillantes, Darren Espanto and Yeng Constantino are expected to lend their support to the newest girl group in town.

B6 Tuesday, April 12, 2022

PTT upskills coaches with online seminars and training

Cleanfuel opens 94th station with price rollback, discounts, and freebies

HE 94th branch of Cleanfuel is now open in Quezon City. Cleanfuel CommonwealthMindanao, strategically located along Commonwealth Avenue corner Mindanao Avenue Extension in Barangay Pasong Putik, Quezon City, complements existing stations at Commonwealth and Fairview in providing affordable and quality fuel along the west and east thoroughfares of Quezon City. Atty. Jesus “Bong” Suntay, President and CEO of Cleanfuel Group of Companies, led the opening rites on April 6 with an offering of P3 off per liter on diesel and P5 off per liter on gasoline. This was on top of a price rollback of P1.85 for per liter for diesel and P2.30 per liter for gasoline (effective April 5). Moreover, customers were treated to more freebies such as Cleanfuel T-shirts and loyalty cards which earn points for every purchase. “Yes, this is our 94th branch and we still try to build as many branches as we can. In fact, we are currently building 14 more branches with on-going construction. We’re very happy with the good reception of our customers. That trust allows us to grow and make more fuel stations to provide more customers, our kababayans, with the lowest price of quality fuel,” Atty. Suntay told the BusinessMirror. “Our stations are all companyoperated. Wala kaming middle man, wala kaming franchising, so yung kita na dapat binibigay mo sa franchise mo, nabibigay namin sa customers that allows us to lower the price of our fuel products. We strive hard to do our best

kaya tuloy tuloy lang. We see na madami pang opportunity for growth dito, not only in Luzon but also in other areas in the country. And that’s what we’re doing -- to find the right location and build more Cleanfuel branches,” he added. Earlier on March 24, the company opened Cleanfuel Pila, the 6th Cleanfuel station in the province of Laguna. Strengthening its presence in the province, Cleanfuel Pila is poised to serve residents and tourists alike who will trek to Pila for the numerous ancestral houses and the National Shrine of St. Anthony de Padua. Recently, Cleanfuel also renewed its partnership with Motul Philippines to provide its customers with a high-quality range of oils to keep their cars protected. Now available at Cleanfuel stations

is a complete line of Motul lubricants that include the Motul Multigrade Plus 15W40, the 4100 Turbolight 10W40, and the H-TECH Prime 5W40. The new partnership between Motul, a French company, known for producing high-performance motor oil, for performance vehicles, heavy-duty trucks, and industrial lubricants for the past 160 years, and Cleanfuel will give Filipino motorists the best opportunity to experience the Motul brand in protecting their different types of vehicles from sedans, SUVs, pickups, and commuter vans. Cleanfuel promises to continue to provide and fuel every business with Quality Fuel for Less! For more information, visit: Quality Fuel for Less – Clean Fuel (Text/Photo: Leony Garcia)

SMDC’s South 2 Residences takes integrated living above and beyond

T’S always convenience in day-today living that an integrated lifestyle promises. After all, who wouldn’t enjoy having everything within reach, in a strategic location where all key destinations are made accessible? Yet master-planned developments unlock so much more than just ease and comfort. Backed by their unwavering commitment to sustainability, SM Development Corporation (SMDC) is at the forefront of building not just ecosystems of holistic communities, but rather, multi-faceted real estate investments — one of which is South 2 Residences. Located in the Southmall Complex in Las Pinas City, SMDC’s South 2 Residences is orbited by several key lifestyle, commercial, and office destinations. This includes retail shops, leisure and entertainment stations, and a plethora of dining options at SM Southmall. There are also banking establishments such as BDO and Chinabank, health institutions such as The Medical City Clinic, and office spaces at the SM South Tower. “It is much more important now to have easy and fast access to essential facilities such as hospitals, rehabilitation centers, drug stores, supermarkets, and places of worship,” writes Andrew Frondozo,

Head of Project Management at Santos Knight Frank, in the real estate expert’s Global Buyer Survey 2021: The Philippine Edition. “This increased realization is no longer for the middle-aged or the elderly, but younger people even.” Living in a 15-minute city like South 2 Residences, where important destinations are all within walking distance, also means your car can stay parked, helping you save money as oil prices shoot up. And that leads us to our next point. Oil prices have recently hit decadehigh marks. Inevitably, higher oil prices contribute directly to inflation by increasing the cost of economic inputs. If you’re an investor looking to minimize investment losses if the market takes reactionary big swings, just take it from the world’s richest man, Elon Musk, who recently tweeted that it is generally better to own “physical things like a home” than cash when inflation is high. Musk references the general principle to prioritize asset classes that are impervious to wild fluctuations during inflationary climates. These are called hedges. According to financial website Invetopedia.com, real estate serves as one of the time-honored inflation hedges. It’s a tangible asset that tends to hold value in

times of inflation. “More specifically, as prices rise, so do property values, and so does the amount a landlord can charge for rent, so that the property earns higher rental income over time.” As with any other investment, informed selection matters. SMDC is the reigning back-to-back “Best Developer” in the PropertyGuru Awards, and all of its award-winning qualities are reflected in each of their developments — making South 2 Residences one of the most coveted homes in Las Piñas. SMDC’s South 2 Residences is accessible to all parts of the metro through convenient road networks such as the Muntinlupa-Cavite Expressway (MCX), South Luzon Expressway (SLEX), Emilio Aguinaldo Hi-way, and the Metro Manila Skyway. It is also close to the Skyway Extension, LRT-1 Cavite extension, and C-5 Southlink. Upon reaching the property, one can immediately get a sense of grandeur from South 2 Residences’ imposing presence in the neighborhood. The impression only gets stronger as you enter the hotel-like lobby, adorned with impeccable design and décor. South 2 Residences, likewise, presents a full range of resort-style amenities, including landscaped swimming pools, children’s play areas, pocket gardens, a gym, and high-speed elevators. What truly sets this development apart, however, like all other integrated developments on SMDC’s roster, is the low-carbon footprint lifestyle it offers. With the walkability South 2 Residences promotes, you not only get unmatched convenience and accessibility, but also become a steward of the earth, and a witness to SMDC blazing the trail towards sustainable communities. For more information, visit https://smdc.com/properties/south-2residences/.

INOY Tennis Trainers (PTT), led by its program head Sebastien Lhuillier, once again opens its doors for online training as in-court competitions resume nationwide. The webinar PTT Serve Online functioned as a venue for tennis trainers and coaches to gain a fresh perspective in teaching budding athletes and adult learners the basics of tennis, as well as tips for organizing clinics and competitions for players. The PTT, now in its sixth year, was cofounded by brothers Stephan and Sebastien Lhuillier, sons of Philippine Tennis patron Jean Henri Lhuillier. The organization was established in 2016 to provide training and workshops for local coaches and help them get access to more lucrative tennis gigs. The program was also designed to upskill trainers by sending them to international conferences and seminars to attain international tennis certifications. Joining Sebastien on the webinar is coach Roland Kraut. Coach Kraut acts as the lead resource person and is the first Filipino tennis coach to be conferred an ITF Level 3 certification by the International Tennis Federation, the highest coaching level in tennis. Local coaches Alquinn Flores, Austin delos Santos, and Reymund Padigos rounded up the panel and provided first-hand knowledge in building up grassroots tennis in the countryside. “As an active player, I am elated that we are going back to in-court training and competitions. This provides players like us, whether newbies or seasoned pros, the opportunity to hone our skills as we await new opportunities to compete,” said Sebastien.

GEARING UP FOR GAME TIME. Led by Sebastien Lhuillier, Pinoy Tennis Trainers (PTT) holds a webinar on running tennis clinics, programs with coaches and trainers. “But more than that, the resumption of incourt sessions means more opportunities for the trainers and coaches whose livelihood was severely affected by the pandemic. After all, we started PTT because we wanted to give them alternative means to improve their skills, raising their chances of landing higherpaying in-court gigs to better support their families.” he added. In 2019, Sebastien took the helm of managing PTT from Stephan who left to concentrate on his university studies. Since then, Sebastien has spearheaded online webinars and led a successful bike donation drive in 2021. Dubbed “Bikes for Life”, the program gave 30 tennis trainers free bicycles which they used as means to earn extra livelihood to augment their family income amid quarantine restrictions.

SSS resumes RACE operations in Metro Manila

OCIAL Security System (SSS) President and CEO Michael G. Regino announced that the Run After Contribution Evaders (RACE) operations has been resumed in the National Capital Region (NCR) starting April 1, 2022. Subject to the first operations in the NCR are 10 non-compliant employers in Manila City with combined contribution delinquencies estimated to be about P26.26 million composed of P9.12 million past-due contributions and P17.14 million penalties, affecting around 95 SSS members. “These employers were found to be delinquent in the payment of contributions even prior to the pandemic. As a general rule, we have given them 15 calendar days from the date of the SSS’ visit to settle their obligations,” Regino said. The campaign in Manila is part of a series of RACE operations nationwide, which aims to exact the continuous compliance of delinquent employers with their statutory obligations under Republic Act No. 11199 or the Social Security Act of 2018, ensure the social security coverage of members, and enhance SSS’ collection efficiency.

“This time, we are giving non-compliant employers the option to settle their delinquencies through our Pandemic Relief and Restructuring Programs (PRRPs), which provides more amicable and flexible payment terms,” Regino said. In November 2021, the SSS launched PRRPs to alleviate the burden of employers and members adversely affected by the pandemic. Among these programs is the PRRP 2, a social security contribution penalty condonation program for employers, which covers the applicable month of March 2020 and onwards. This program will run until May 19, 2022. Another is the PRRP 3 or the Enhanced Installment Payment Program, which allows qualified employers to settle their past-due SS and Employees’ Compensation contributions in installment with payment terms ranging from nine to 60 months, depending on the total amount of delinquency. It will run until November 22, 2022. The complete details of PRRPs 2 and 3 can be accessed at https://bit.ly/SSSCI2021-015, and https://bit.ly/SSSPRRP3, respectively.

Panda Express opens new branch in Las Piñas

PANDA Express® continues to expand its presence in the Philippines, bringing American Chinese favorites closer to the fans, with the opening of its seventh store located at the SM Southmall in Las Piñas City.

GREEN light for the world famous The Original Orange Chicken® as it travels southbound. Panda Express®— the world’s largest American Chinese dining concept— opened its newest branch on April 1, at the SM Southmall in Las Piñas City. Located at the Lower Ground Level, the latest store will be the seventh Panda Express in the whole Metro Manila area, since opening its first location at SM Megamall in Ortigas, Pasig City in late 2019. “We are thrilled to announce that we continue to expand our stores here. We have received so much love from our fans in the Philippines and what better way to reciprocate this kind of brand love than to bring Panda Express closer to them. We can’t wait for more people to try our American Chinese favorites, as well as the new dishes in the pipeline,” said Ned Bandojo, Business Development Head, Foreign Franchises Brands of the Jollibee Group. The Panda Express menu includes a variety of entrées with Chinese and Sichuan influences—from its bestselling The Original Orange Chicken, a wok-tossed crispy chicken coated in sweet tangy sauce, to Panda’s awardwinning Honey Walnut Shrimp, a mouth-

watering entrée made with premium crispy shrimp wok-tossed in a honey sauce and topped with glazed walnuts. The newest dish on Panda’s serving table is Kung Pao Fish, a limited time offer product inspired by the classic Panda entrée, Kung Pao Chicken. In time for the Lenten season, Panda puts its own unique spin on the dish by using lightly breaded boneless fish, a wide variety of freshly cut vegetables along with crunchy peanuts, all tossed in a flavorful sauce with a kick. Panda also offers Honey Sesame Chicken, available for a limited time only. Made with thin, crispy strips of all-white meat chicken raised without antibiotics and tossed with fresh-cut string beans and crisp red bell peppers, Honey Sesame Chicken is coated in a delicious honey sauce and topped off with sesame seeds. Foodies can also enjoy their Panda Express favorites in the comfort of their own homes by ordering for delivery through ord er.pandaexpress.com.ph, GrabFood, or foodpanda. To get more information, visit www. facebook.com/PandaExpressPH/ (Facebook) and @PandaExpressPH (Instagram).

www.businessmirror.com.ph • Editor: Angel R. Calso

TheWorld

Ukrainian defenders dig in as Russia boosts firepower By Adam Schreck & Cara Anna The Associated Press

YIV, Ukraine—As Ukrainian forces dug in on Sunday, Russia lined up more firepower and tapped a decorated general to take centralized control of the war ahead of a potentially decisive showdown in eastern Ukraine that could start within days. Ukrainian President Volodymyr Zelenskyy warned Sunday in his nightly address to the nation that the coming week would be as crucial as any in the war, saying “Russian troops will move to even larger operations in the east of our state.” He also accused Russia of trying to evade responsibility for war crimes in Ukraine. “When people lack the courage to admit their mistakes, apologize, adapt to reality and learn, they turn into monsters. And when the world ignores it, the monsters decide that it is the world that has to adapt to them,” Zelenskyy said. “The day will come when they will have to admit everything. Accept the truth,” he added. Experts have said that the next phase of the battle may begin with a full-scale offensive. The outcome could determine the course of the conflict, which has flattened cities, killed untold thousands and isolated Moscow economically and politically. In an interview that appeared on “60 Minutes” Sunday night, Zelenskyy said Ukraine’s fate as the war shifts to the south and east depends on whether the United States will help match an expected surge in Russian weaponry in those regions. “To be honest, whether we will be able to [survive] depends on this,” said Zelenskyy, speaking through a translator. “I have 100 percent confidence in our people and in our armed forces. But unfortunately, I don’t have the confidence that we will be receiving everything we need.” Zelenskyy thanked President Joe Biden for US military aid to date but added that he “long ago” forwarded a list of specific items Ukraine desperately needed and that history would judge Biden’s response. “He has the list,” Zelenskyy said. “President Biden can enter history as the person who stood shoulder to shoulder with the Ukrainian people who won and chose the right to have their own country. [This] also depends on him.” Questions remain about the ability of Russia’s depleted and demoralized forces to conquer much ground after their advance on the capital, Kyiv, was repelled by determined Ukrainian defenders. Britain’s Defense Ministry reported Sunday that the Russian forces were trying to compensate for mounting casualties by recalling veterans discharged in the past decade. In Washington, a senior US official said that Russia has appointed Gen. Alexander Dvornikov, one of its most seasoned military chiefs, to oversee the invasion. The official was not authorized to be identified and spoke on condition of anonymity. Until now, Russia has had no central war commander on the ground. The new battlefield leadership comes as the Russian military prepares for what is expected to be a large, focused push to expand control in Ukraine’s east. Russia-backed separatists have fought Ukrainian forces in the eastern Donbas region since 2014 and declared some territory there as independent. Dvornikov, 60, gained prominence as head of the Russian forces deployed to Syria in 2015 to shore up President Bashar Assad’s government during the country’s devastating civil war. US officials say he has a record of brutality against civilians in Syria and other war theaters. Russian authorities do not generally confirm such appointments and have said nothing about a new role for Dvornikov, who received the Hero of Russia medal, one of the country’s highest awards, from President Vladimir Putin in 2016. US national security adviser Jake Sullivan, speaking Sunday on CNN’s “State of the Union,” played down the significance of the appointment. “What we have learned in the first several weeks of this war is that Ukraine will never be subjected to Russia,” Sullivan said. “It doesn’t matter which general President Putin tries to appoint.” Western military analysts say Russia’s assault has increasingly focused on a sickleshaped arc of eastern Ukraine—from Kharkiv, Ukraine’s second-largest city, in the north to Kherson in the south. The narrower effort could help Russia’s problem, earlier in the war, of spreading its offensive too widely over too great a geographic area. “Just looking at it on a map, you can see that they will be able to bring to bear a lot more power in a lot more concentrated fashion,” by focusing mainly on eastern Ukraine, Pentagon spokesman John Kirby said Friday. Newly released Maxar Technologies satellite imagery showed an 8-mile (13-kilometer) convoy of military vehicles headed south through Ukraine to Donbas, recalling images of a convoy that got stalled on roads to Kyiv for weeks before Russia gave up on trying to take the capital. On Sunday, Russian forces shelled government-controlled Kharkiv and sent reinforcements toward Izyum to the southeast in a bid to break Ukraine’s defenses, the Ukrainian military command said. The Russians also kept up their siege of Mariupol, a key southern port that has been under attack and surrounded for nearly 1 and a half months. A Russian Defense Ministry spokesman, Maj. Gen. Igor Konashenkov, said Russia’s military used air-launched missiles to hit Ukraine’s S-300 air-defense missile systems in the southern Mykolaiv region and at an air base in Chuhuiv, a city not far from Kharkiv. Sea-launched Russian cruise missiles destroyed the headquarters of a Ukrainian military unit stationed farther west in the Dnipro region, Konashenkov said. Neither the Ukrainian nor the Russian military claims could be independently verified. The airport in Dnipro, Ukraine’s fourth-largest city, was also hit by missiles twice on Sunday, according to the regional governor. On Sunday night, Zelenskyy again called on Western countries to provide more assistance to Ukraine. During talks with German Chancellor Olaf Scholz, Zelenskyy said, he discussed “how to strengthen sanctions against Russia and...force Russia to seek peace.” “I am glad to note that the German position has recently changed in favor of Ukraine. I consider it absolutely logical,” Zelenskyy said. The president of the European Commission said on CNN’s “State of the Union” Sunday that Ukraine’s response to a questionnaire she recently handed to Zelenskyy will enable her to decide whether to recommend the nation as a candidate to join the EU. The process normally takes years, but Ursula von der Leyen has said Ukraine’s application could take just weeks to consider. “Yesterday, somebody told me: ‘You know, when our soldiers are dying, I want them to know that their children will be free and be part of the European Union,’” von der Leyen said. Ukrainian authorities have accused Russian forces of committing war crimes against civilians, including airstrikes on hospitals, a missile attack that killed at least 57 people at a train station and other violence discovered as Russian soldiers withdrew from the outskirts of Kyiv. A day after meeting with Zelenskyy in Kyiv, Austrian Chancellor Karl Nehammer announced that he will meet Monday in Moscow with Putin. Austria, a member of the European Union, is militarily neutral and not a member of Nato. Ukraine has blamed Russia for killing civilians in Bucha and other towns outside the capital where hundreds of bodies, many with their hands bound and signs of torture, were found after Russian troops retreated. Russia has denied the allegations and falsely claimed that the scenes in Bucha were staged. Maria Vaselenko, 77, a resident of Borodyanka, said her daughter and son-in-law were killed, leaving her grandchildren orphaned. “The Russians were shooting. And some people wanted to come and help, but they were shooting them. They were putting explosives under dead people,” Vaselenko said. “That’s why my children have been under the rubble for 36 days. It was not allowed” to remove bodies. In Mariupol, Russia was deploying Chechen fighters, reputed to be particularly fierce. Capturing the city on the Sea of Azov would give Russia a land bridge to the Crimean Peninsula, which Russia seized from Ukraine eight years ago. Residents have lacked food, water and electricity since Russian forces surrounded the city and frustrated evacuation missions. Ukrainian authorities think an airstrike on a theater that was being used as a bomb shelter killed hundreds of civilians, and Zelenskyy has said he expects more evidence of atrocities to be found once Mariupol no longer is blockaded. The Institute for the Study of War, an American think tank, predicted that Russian forces will “renew offensive operations in the coming days” from Izyum, a town southeast of Kharkiv, in the campaign to conquer the Donbas, which comprises Ukraine’s industrial heartland. But in the view of the think tank’s analysts, “The outcome of forthcoming Russian operations in eastern Ukraine remains very much in question.” Anna reported from Bucha, Ukraine. Yesica Fisch in Borodyanko, Robert Burns and Calvin Woodward in Washington, and Associated Press journalists around the world contributed to this report.

BusinessMirror

Tuesday, April 12, 2022

China’s Covid outbreak worsens as Shanghai infections top 26,000

hina’s largest Covid outbreak in two years continues to spread despite an extended lockdown of Shanghai’s 25 million people, weighing on a fragile economy and straining global supply chains.

There were 26,087 new daily infections reported in the Chinese financial hub Sunday, an all-time high. Residents have been locked down for weeks now, with frustration building among the population as they struggle to get access to food and medical care. Elsewhere, the southern metropolis of Guangzhou is implementing a series of restrictions after local authorities warned the 20 cases they found last week could be the tip of the iceberg. The city is a trading hub and infections and similar containment measures across China are causing an increasing drag on the world’s secondlargest economy, with consequences for global growth, supply chains and inflation. Shanghai’s struggle with the virus means other local governments may become more sensitive to flare-ups and step up mobility controls even when cases are low, according to Tommy Xie, head of greater China research at Oversea-Chinese Banking Corp. “The Chinese economy may have to brace for more short-term disruptions in the coming months,” Xie wrote in a report Monday. Economists now predict the economy will expand 5 percent this year, below the official target of around 5.5 percent. Analysts at Morgan Stanley have cut their growth forecasts this year on the lockdown impact, while Citigroup Inc. has warned of risks to growth in the current quarter. Chinese stocks plunged Monday over Covid concerns, rising global interest rates and persistent regulatory headwinds. The Hang Seng Index declined 2.5 percent as of 12:33 p.m.

local time in Hong Kong, while China’s benchmark CSI 300 Index slumped 2.4 percent. China’s slowdown is already having a ripple effect across the region. Activity among Hong Kong’s private businesses slumped further into contraction in March, as lockdowns in mainland China weighed on new orders, according to the S&P Global purchasing managers’ index. Taiwan’s exports to China also decelerated in March from February.

Logistics logjam

“China’s worst Covid outbreak may lead to delays and higher prices, which could stall recovery and further add to global inflation,” said Bruce Pang, head of macro and strategy research at China Renaissance Securities Hong Kong Ltd. The Shanghai Shipping Exchange Shanghai (Export) Containerized Freight Index, a measure of freight rates, has declined to 4,349 on April 1 from a peak of 5,110 in early January. The drop indicates an easing in exports, according to Pang. Containers are piling up at Shanghai, China’s biggest port, as the lockdown in the city has led to a shortage of trucks to clear imports. It has also disrupted business operations in the city, with companies like chip giant Semiconductor Manufacturing International Corp. struggling last week to secure trucks to ship out finished goods. Cities in more than 10 provinces have shut some entrances and exits to highways in order to strengthen Covid checks of people entering

their cities, local media Jiemian reported Saturday. Many highway checkpoints are stopping drivers based on their travel history, forcing them to detour or turn back and disrupting logistics. Logistics in the Yangtze River delta area around Shanghai has not been smooth, the Ministry of Transport said Saturday, in a statement. The ministry ordered that no Covid testing checkpoints be set up in the main lanes of highways so that transport is smooth. Economists forecast China’s exports expanded 13 percent in March, which would be an acceleration from 6.2 percent in February but slower than the 30 percent growth recorded for the full year of 2021. Exports are expected to slow down later this year due to a high base and as factories in other countries reopen. The case numbers in Shanghai figures have surged despite the city’s move to lock down its population to curb transmission, however about 95 percent of the virus cases were among people already under isolation, data from the municipal government on Monday showed. Many individual housing compounds were locked down earlier in March, and then the city banned movement in the eastern part—home to the financial district and numerous industrial parks—on March 28 and then in the west from April 1. Other cities across the country are also seeing rising cases, with 21 of China’s 31 provinces reporting cases Sunday. Wuhan city, the site of the first outbreak more than two years ago, reported 12 asymptomatic cases Sunday and announced Monday morning that people would have to show a negative Covid test to ride the subway. Guangzhou has shut schools until April 17 and will conduct mass testing and several districts have closed indoor entertainment venues. The local government is also requiring

people to have a negative nucleic acid test before leaving the city. Business disruptions are showing up in various indicators. Factory activity in March in China fell to its worst level since the pandemic’s onset two years ago, according to the Caixin Manufacturing Purchasing Managers’ Index, a private survey focusing on smaller export-oriented businesses. The official PMI also indicated a contraction in both manufacturing and services sectors in March. The hit to consumption from lockdowns and more residents staying home instead of shopping or traveling continues to get worse. Data Monday showed a 10.9 percent plunge in vehicle sales in March from a year earlier, after a gain of 4.7 percent in February. Tourism revenue over the Qingming festival, the three-day national holiday last week, declined by 31 percent from last year to 18.8 billion yuan ($3 billion), according to official data. That’s equivalent to 39 percent of the pre-pandemic level in 2019, the Ministry of Culture and Tourism said.

Inflation pressure

The lockdowns have also pushed up vegetable prices, which surged 17.2 percent year-on-year in March, compared to a drop of 0.1 percent in February. In addition, there’s rising concern that mobility restrictions are threatening spring planting of crops in the Northeastern region, the nation’s most important source of rice, soybeans and corn. This means “the risk of food shortage may rise in the second half, adding further pressure to the worsening global food shortage caused by the ongoing military conflict in Ukraine,” Nomura Holdings Inc. economists led by Lu Ting said in a note Monday. Rising food and energy price inflation may limit the space for the People’s Bank of China to cut interest rates despite the rapidly worsening economy, Nomura wrote. Bloomberg News

In France, it’s Macron against Le Pen, again, for presidency Biden and Modi

ARIS—Incumbent Emmanuel Macron will face far-right nationalist Marine Le Pen in a winner-takes-all runoff for the French presidency, after they both advanced Sunday in the first round of voting in the country’s election to set up another head-to-head clash of their sharply opposing visions for France. But while Macron won t heir last contest in 2017 by a landslide to become France’s youngest-ever president, the same outcome this time is far from guaranteed. Macron, now 44, emerged ahead from Sunday’s first round, but the runoff is essentially a new election and the next two weeks of campaigning to the April 24 second-round vote promise to be bruising and confrontational against his 53-year-old political nemesis. Savvier and more polished as she makes her third attempt to become France’s first woman president, Le Pen was handsomely rewarded Sunday at the ballot box for her years-long effort to rebrand herself as more pragmatic and less extreme. Macron has accused Le Pen of pushing an extremist manifesto of racist, ruinous policies. Le Pen wants to roll back some rights for Muslims, banning them from wearing headscarves in public, and to drastically reduce immigration from outside Europe. On Sunday, she racked up her best-ever first-round tally of votes. With most votes counted, Macron had just over 27 percent and Le Pen had just under 24 percent. Hardleft leader Jean-Luc Melenchon was third, missing out on the two-candidate runoff, with close to 22 percent. Macron also improved on his first-round showing in 2017, despite his presidency being rocked by an almost unrelenting series of both domestic and international crises. They include Russia’s war in Ukraine that overshadowed the election and diverted his focus from the campaign. With polling suggesting that the runoff against Le Pen could be close, Macron

immediately started throwing his energies into the battle. Addressing supporters Sunday night who chanted “five more years,” Macron warned that “nothing is done” and said the runoff campaign will be “decisive for our country and for Europe.” Claiming that Le Pen would align France with “populists and xenophobes,” he said: “That’s not us.” “I want to reach out to all those who want to work for France,” he said. He vowed to “implement the project of progress, of French and European openness and independence we have advocated for.” The election outcome will have wide international influence as Europe struggles to contain the havoc wreaked by Russian President Vladimir Putin’s invasion of Ukraine. Macron has strongly backed European Union sanctions on Russia while Le Pen has worried about their impact on French living standards. Macron also is a firm supporter of Nato and of close collaboration among the European Union’s 27 members. Macron for months had looked like a shoo-in to become France’s first president in 20 years to win a second term. But National Rally leader Le Pen, in a late surge, tapped into the foremost issue on many French voters’ minds: soaring costs for food, gas and heating due to rising inflation and the repercussions of Western sanctions on Russia. To win in round two, both Macron and Le Pen now need to reach out to voters who backed the 10 presidential candidates defeated Sunday. For some of the losers’ disappointed supporters, the runoff vote promises to be agonizing. Melenchon voter Jennings Tangly, a 21-year-old student of English at Paris’ Sorbonne University, said the second-round match-up was an awful prospect for her, a choice “between the plague and cholera.” She described Macron’s presidency as

“abject,” but said she would vote for him in round two simply to keep Le Pen from the presidential Elysee Palace. “It would be a survival vote rather than a vote with my heart,” she said. Le Pen’s supporters celebrated with champagne and chanted “We’re going to win!” She sought to reach out to left-wing supporters for round two by promising fixes for “a France torn apart.” She said the second round presents voters with “a fundamental choice between two opposing visions of the future: Either the division, injustice and disorder imposed by Emmanuel Macron to the benefit of the few, or the uniting of French people around social justice and protection.” Some of her defeated rivals were so alarmed by the possibility of Le Pen beating Macron that they urged their supporters Sunday to shift their second-round votes to the incumbent. Melenchon, addressing supporters who sometimes shed tears, repeatedly said: “We must not give one vote to Mrs. Le Pen.” Describing herself as “profoundly worried,” defeated conservative candidate Valerie Pecresse warned of “the chaos that would ensue” if Le Pen was elected, saying the far-right leader has never been so close to power. Pecresse said she would vote for Macron in the runoff. To beat Le Pen, Macron will aim to pick apart her attempted rebranding as a less dangerous political force, a makeover that has even highlighted her love of cats. Her softer image has won over some voters but made others even more suspicious. Yves Maillot, a retired engineer, said he voted for Macron only to counterbalance Le Pen. He said he fears that her long-standing hostility to the EU could see her try to take France out of the bloc, even though she has dropped that from her manifesto. “I don’t think she’s changed at all,” he said. “It’s the same thing, but with cats.” AP

to speak as US presses for hard line on Russia

ILMINGTON, Del.—President Joe Biden is set to speak with Indian Prime Minister Narendra Modi on Monday as he presses world leaders to take a hard line against Russia’s Ukraine invasion. India’s neutral stance in the war has raised concerns in Washington and earned praise from Russian Foreign Minister Sergey Lavrov, who lauded India this month for judging “the situation in its entirety, not just in a one-sided way.” Most recently, India abstained when the UN General Assembly voted Thursday to suspend Russia from its seat on the 47-member Human Rights Council over allegations that Russian soldiers in Ukraine engaged in rights violations that the US and Ukraine have called war crimes. The vote was 93-24 with 58 abstentions. In the virtual meeting, Biden will talk about the consequences of Russia’s war against Ukraine “and mitigating its destabilizing impact on global food supply and commodity markets,” White House press secretary Jen Psaki said in a statement Sunday. They’ll discuss “strengthening the global economy, and upholding a free, open, rules-based international order to bolster security, democracy, and prosperity in the Indo-Pacific,” she said. India continues to purchase Russian energy supplies, despite pressure from Western countries to avoid buying Russian oil and gas. The US has also considered sanctions on India for its recent purchase of advanced Russian air defense systems. Last month, the state-run Indian Oil Corp. bought 3 million barrels of crude from Russia to secure its needs, resisting entreaties from the West to avoid such purchases. India isn’t alone in buying Russian energy, however. Several European allies such as Germany have continued to do so, despite public pressure to end these contracts. AP

Cambodia lists 39 sports in 2023 SEAG hosting

AMBODIA will be putting on a showcase as a first-time host of the Southeast Asian Games in 2023 with 39 sports already on its competition program. Philippine Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino said that Cambodia has shown its readiness to host next year’s Games during a SEA Games Federation meeting held over the weekend in Siam Reap, a resort town that’s the gateway to the UNESCO World Heritage Site Angkor Wat. “Cambodia is ready to host and they promised an excellent edition of the Games,” said Tolentino, who was joined in the meeting by POC Deputy Secretary General Bones Floro, triathlon head Tom Carrasco, volleyball chief and POC broadcast committee chair Ramon “Tats” Suzara, soft tennis’s Capt. Bob Moran and bowling legend Bong Coo representing women’s in sports. Cambodia scheduled the 32nd edition of the SEA Games from May 5 to 16—a year after Vietnam hosts this year’s Games—with the capital Phnom Penh as main hub. Tolentino said that centerpiece athletics and aquatics tops the sports program as Category I sports with the marathon for men and women starting and finishing at Angkor Wat as well as the road and mountain bike (MTB) of cycling. The other sports under Category II are badminton, basketball (5x5 and 3x3), boxing, billiards, cycling (road and MTB), canoeing, rowing, Ok Chaktrong, Asean and Xiangxi), dancesports, fencing, football, golf, gymnastics (aerobic and artistic), hockey (including indoor), judo, karate, muay, petanque, sailing, sepaktakraw (including chinlone), soft tennis, table tennis, taekwondo, traditional boat race, triathlon (including duathlon and aquathlon), volleyball, wrestling and weightlifting. Grouped in Categor y III are arnis, bodybuilding, esports, jiu jitsu, jet ski, kickboxing, kun vocator, vovinam and martial arts Korea.

LRWC, PBA seal sponsorship deal

By VG Cabuag

EISURE and Resorts World Corp. signed its first major sponsorship deal with the Philippine Basketball Association (PBA) for BingoPlus, the new gambling brand of the company’s unit AB Leisure Exponent Inc. According to the deal, BingoPlus will support the PBA for the entire 47th season and connect with the PBA community through on-court branding opportunities and a social series. The deal was signed during the ongoing Governors Cup Finals between Barangay Ginebra San Miguel and Meralco Bolts. LRWC president Andy Tsui, ABLE president Jasper Vicencio and PBA Commissioner Willie Marcial made the ceremonial signing. “We see this as a perfect opportunity to reach our target audience,” Tsui said. “Through collaborations like this, we strive to grow the number of our patrons so that more can have the opportunity to win.” “This partnership is something we are proud of. Given the solid fan base of PBA in the country, we are convinced that this will be a fruitful and mutually benefitting collaboration,” Tsui added. BingoPlus, a remote gaming platform,

Sports BusinessMirror

| Tuesday, April 12, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

TIGER INSPIRES AT MASTERS

THAT Tiger Woods’s able to walk the course again—for four days, no less—is a feat in itself. AP

UGUSTA, Georgia—The Masters patrons filled in every nook and cranny around the 18th green, awaiting the appearance of the man in red. A scene that’s been so familiar to Tiger Woods on so many Sundays at Augusta National, but this one was different. It wasn’t even 3 o’clock on the warm, sunny afternoon in east Georgia. Over on the adjacent first hole, leader Scottie Scheffler and offers the first online traditional bingo in the country, licensed by the Philippine Amusement and Gaming Corp. Since its launching in January 2022, the platform has already awarded 10 jackpot winners and 26 bingo winners, for a total of P32.16 million in accumulated winnings to date. Early this year, BingoPlus also teamed up with All-Star Bacolod Ballers in its campaign at the Filbasket 2022 Summer Championship. LRWC’s has been beefing up its online gambling platforms as the series of lockdowns have kept its gaming areas almost vacant. Its unit Total Gamezone Xtreme Inc. last year started the full operation of its betting platform called Gsports, wherein gamblers can place wagers on a variety of betting markets across professional, collegiate and other sports leagues via retail or online. The said LRWC unit recently secured accreditation from the PAGCOR The online Gsports sportsbook, allows gamblers to use a gadget of their choice like tablet, laptop or smartphones to quickly start placing wagers. Sports fans can place bets on any competition and live betting from across the world 24/7, ranging from well-known sports like football, tennis, basketball, volleyball, to popular leagues and even to the niche markets.

High Impact’s Hugo Inglis THE Olympic.org.NZ bared that that Otago midfielder/ striker Hugo Inglis made his third Olympic appearance in Tokyo after London 2012 and Rio 2016. He was part of the team that clinched silver (Gold

closest pursuer Cameron Smith had just teed off in the final group. Hunched over and limping noticeably, Woods climbed the deceptively steep hill leading up to the green as the fans slowly rose to their feet, the roar building as they saluted a remarkable comeback if not a fairy tale of a weekend. “Way to hang in there, Tiger!” a man standing back in the crowd belted out. From a strictly golfing viewpoint, this was hardly the Woods that so many remembered. The guy who’s won five green jackets, the last of them just three years ago. The guy who’ll go down as one of the greatest to ever play the game, even if he never strikes another shot. (Don’t worry, he’s not done.) This Woods, the one hobbling on a rebuilt right leg that he could’ve lost in that horrific car crash 14 months ago, closed with back-to-back 78s that were the worst scores of his Masters career. He even had to take a left-handed swing at the 13th after knocking his ball onto the pine straw behind the green, right up next to an azalea. His battered body simply ran out of steam after an electrifying 71 on Thursday, when Woods made his return to competitive golf for the first time in more than 500 days. He grinded out a 74 on Friday, ensuring he would make the Masters cut for the 22nd time in a row. There was nothing left in the tank for the weekend. Still, it was a gratifying experience, one that Woods clearly didn’t regret putting himself through even if he didn’t come close to winning a recordtying sixth green jacket. “This tournament has meant so much to me and my family,” Woods said. “This is where all the great champions have ever played. They have walked these grounds.” That Woods was able to walk the course again—for four days, no less—

was a feat in itself. After his wreck in February 2021, doctors told Wood that his shattered right leg might have to be amputated. They managed to save it, but he was confined to a hospital bed for three months. He’s still got screws and rods holding the bones in place. Woods walked Augusta National with a limp that got more and more noticeable, sometimes using a club as a walking stick to help him get around. Most telling, he couldn’t bend all the way over to read putts on Augusta’s tricky greens, which may explain why his stellar touch with the short stick seemed to abandon him on the weekend. But excluding all the tournaments he’s won—especially those 15 major championships—this felt like his greatest achievement in golf. “For not winning an event, yes. Yes, without a doubt,’ Woods said. ”I don’t think people really understand. The people who are close to me understand. They’ve seen it. Some of the players who are close to me have seen it and have seen some of the pictures and the things that I have had to endure. They appreciate it probably more than anyone else because they know what it takes to do this out here at this level.” Everyone realizes how much Woods still means to the game, even if he is surely in the twilight of his career at age 46. “You just pull so hard for him,” said Harold Varner III, who joined Woods and Cameron Champ to make this the first Masters with three Black players. “Obviously, he’s great for the sport. If he’s around, we’re going to make a lot of money.” Woods told Sky Sports that he plans to play the British Open at St. Andrews in July. He isn’t sure about the next two majors: the PGA Championship, set for May 19 to 22 at Southern Hills, or the US Open at Brookline in June. AP

Tab downplays perfect record

ECOND round action in University Athletic Association of the Philippines Season 84 men’s basketball action resumes on Tuesday with a blast—Ateneo battles archrival De La Salle with the reigning champion Blue Eagles expecting a mighty fightback by the Green Archers. Unscathed in seven games in the first round, Ateneo Head Coach Tab Baldwin said it’s not their record that they’re concerned much with, it’s the Green Archers seeking revenge from their 57-74 rout the first time they met. “We’re not playing this season to sweep the first round or to win any particular game, but we are playing to win each game so we haven’t accomplished anything yet,” said Baldwin, whose team plays De Salle in the 7 p.m. game at the Mall of Asia Arena in Pasay City. “They have a strong inside game and outstanding guard lineup,” added Baldwin, referring to guard Evan Nelle, Joaquin Manuel, Deschon Wilson and Michael Philips. “They are a championship caliber team. So for our part, we must grow as a team.” Solo second University of the Philippines (6-1) collides with National University (4-3) at 10 a.m., Adamson

Coast 2018) and bronze (New Delhi 2010) in the Commonwealth Games. Inglis, with more than 230 caps for his country, is a super-skilled playmaker with excellent elimination skills. He is the team’s vice-captain. There’s no feeling like representing your country on the Olympic stage. I was able to speak to Hugo last week. Unfortunately, I wasn’t able to ask him if he plays professionally in the country. The question will be one of many that I will ask as we host him on the program “Sports For All.” Inglis, when not representing New Zealand, is competing professionally in the German Feldhockey Bundesliga for Hamburg Polo Club. The league is currently managed by the German Hockey Federation. In August 2020, five months into the pandemic, Hugo joined an impact consultancy where they worked with clients to optimize for profit, people and planet. He found similarities with sport commenting: “Pro sports people are heavily invested into their organization [their team],

MALIXI TOPS AJGA TILT IN PLAYOFF

University (1-6) takes on Far Eastern University (3-4) at 1 p.m. and University of Santo Tomas (2-5) meets University of the East (0-7) at 4 pm. in the other games. The Blue Eagles are coming off a 91-80 rout of the Growling Tigers to sweep

IANNE MALIXI drilled in a pressure-packed three-footer for par on the third playoff hole and claimed the American Junior Golf Association (AJGA) Thunderbird Junior All-Star crown in Phoenix, Arizona, Sunday as Scarlett Schremmer wilted under pressure and missed her bid from closer range. Malixi blew the chance of winning it in regulation with a three-putt miscue on the 54th hole for a 70 but flashed steely resolve as the duel dragged on. She matched Schremmer’s birdie and par on their return stints on Nos. 10 and 11 then took the hotly-disputed crown as the latter, who closed out with a 69 to force a tie at 207, flubbed a matchextending putt from two-and-a-half feet. “It’s a great warm-up for me for next week’s AJGA event,” said the 15-year-old Malixi, who humbled the pros back home twice and dominated the Vietnam Southeast Asian Games qualifying the last four months. It was the International Container Terminal Services Inc. (ICTSI)-backed shotmaker’s second AJGA title following her wire-to-wire triumph in the Se Ri Pak Desert Junior last year with her latest exploit sure to fire her up all the more in the Ping Heather Farr Classic unfolding Thursday at the Longbow Golf Club in Mesa, also in Arizona. Nikki Oh actually made it a threeplayer duel after she closed out with a 71 but the two-day leader missed a birdie-putt on the first playoff hole

RIANNE MALIXI is piling up those victories. and bowed out of the title race in the circuit for junior players seeking to earn college golf scholarships. On their second trip to the par-5 No. 10, Malixi reached it in two and two-putted for birdie while Schremmer made it in three but buried her birdie putt. The duo then matched pars on the par-3 11th. They both overshot the par-four No. 12 with Malixi chipping to within three feet and Schremmer poised to send the duel to another hole after rolling her third shot closer to the cup but missed. Malixi battled back from as many as four strokes despite a 69 after 18 holes as Oh opened with a 65 spiked a rare double-eagle feat but the former threatened to within one with a 68 Saturday.

PHL women’s volleyball team flies to Brazil for 2-week training camp

By Josef Ramos

HE national women’s volleyball team takes its turn to train overseas in preparation for the 31st Southeast Asian Games that kick off next month in Hanoi where a podium finish is a modest goal. And way to go for the nationals—they’re flying to Brazil, one of the world’s hotbed of volleyball—un-

BALDWIN

the first round over the weekend. Tyler Tio had a career-high 20 points, including four triples, in that victory. Josef Ramos

OFF TO WORLDS

THE Smart/MVP Sports Foundation National Poomsae Team will compete in the World Taekwondo Poomsae Championships set from April 21 to 24 in Goyang, South Korea. The team members are (top row) Rodolfo Reyes Jr., Darius Venerable, Kobe Macario, Rani Ann Ortega (coach), Joaquin Dominic Tuzon, Raphael Enrico Mella, Jeordan Dominguez and Patrick King Perez; (second row) Angelica Joyce Laxa, Juvenile Faye Crisostomo, Aidaine Krishia Luxa, Maria Nicole Anne Labayne, Rinna Babanto, Jocel Lyn Ninobla and Janna Dominique Oliva; and (bottom row) Ian Matthew Corton. The team is also supported by the Philippine Sports Commission. Mella heads the team with Rani Ann Ortega as the other coach. they have the intention to contribute towards measurable on-field impact, whilst hopefully achieving some financial return. Individual performance is consistently measured using both qualitative and quantitative measures. Insight, science, data and technology are all blended towards managing for future outcomes.” Who is field hockey striker Hugo Inglis? The webpage fih.ch sheds a bit of light as to who the man is. “For McCaw’s compatriot Hugo Inglis, the classy attacker who has scored 66 times in 232 appearances since making his Black Sticks debut in 2009, it is a very different situation. In February this year, after struggling with a back complaint for the previous eight months, he had surgery on a prolapsed disc, targeting a return to full fitness in time for Tokyo 2020. In an interview with New Zealand’s Otago Daily Times in March, Inglis admitted he knew the risks, telling reporter Adrian Seconi that competing in Tokyo “would be fantastic, but if it is too soon, it’s too soon. That’s life.”

der the meticulous watch of former Brazilian national player and now a sought-after coach, Jorge Edson Souza de Brito. “We’re planning to play five or six tune-up games against top Brazilian clubs from SuperLiga A and under-21 teams,” said de Brito during the team’s send off on Monday in a restaurant in Mandaluyong City. “It’s going to be a very busy and different training camp.” The team will fly to Sao Paulo on Tuesday night and from there, they will go on a half-hour land trip to the training camp in Barueri. The camp will last for two weeks. This marks the first time that a national team is training in Brazil, a country which owns Olympic and world titles as much as it does in football. The national men’s team only recently concluded its own foreign training, also lasting two weeks, in Doha, Qatar. The 14-member team is composed of open spikers Alyssa Valdez, Jema Galanza and Ces Molina, opposite spikers Kat Tolentino and Mylene Paat; setters Kyle Negrito, Deanna Wong and Iris Tolenada; middle blockers Ria Meneses, Majoy Baron, Dell Palomata and Aby Maraño; and liberos Dawn Macandili and Kath Arado. Middle blocker Jaja Santiago will fly from Japan to Brazil. Philippine National Volleyball Federation (PNVFI) Secretary General Don Caringal represented PNVF President Ramon “Tats” Suzara during the send off, along with PNVF Executive Board member and National Team chair Tony Boy Liao, team manager Fe Moran. Also with the team are head coach Odjie Mamon and Grace Antigua, trainers Raffy Mosuela and George Pascua and physical therapist Grace Gomez.

Whilst his desire to compete at a third Olympic Games—Inglis represented the Black Sticks at both London 2012 and Rio 2016—was one of the reasons for his decision to have the operation, it was certainly not the only one. “It is also about building my back for life,” said Inglis in the same interview. “I’ve had eight months of pain—actually it has probably been eight years of back pain.” Obviously makes an impact of the highest degree on the field and off the field as well like the aforementioned impact consultancy but what’s “High Impact Athletes?” Hugo is the Managing Director of High Impact Athletes, the non-government organization channels donations to the most effective, evidence-based charities in the world in the sectors of Global Health and Poverty, Climate Change and Animal Welfare, and harnesses the power of the collective athlete voice to educate the world about the outsized benefits of giving effectively. As Hugo Inglis makes an impact on the field, he makes a bigger impact off of it.