BusinessMirror April 18, 2022

PHLborders, region’scut biggest OECD beneficiary ‘Close Omicron exposure risk’

T C

HE Philippines received the

“At the beginning of the pan-

@caiordinario Assistance (ODA) from Organisation for Economic Co-operLOSING country’s borders ation and the Development (OECD) in is one the most Far EastofAsia at theimmediate height of the courses of action the governCovid-19 pandemic. ment must take to prevent the latOECD Development Assistance est Covid-19 variant, Omicron, Committee (DAC) data from showed reaching Philippine shores, accordthe Philippines received ODA dising tobursements local economists. worth $1.38 billion T he new var iant is a threat, from OECD countries in 2020, a e s p e 63.77-percent c i a l l y w it h tgrowth he hol id ay s the from coming up and more foreigners $840.14 million it received in 2019. being aThis llowed to travel the to the is considered highest Philippines, De Lawhich Sa llereceived Univer-a toin the region, sit y economist ia Ella Oplas tal of $4.77Mar billion in 2020.

Indotold BusinessMirror. nesia received the second highest The holidays usually in disbursements worthbring $1.3 billion Overseas Filipino Workers (OFWs) during the period. who are eager to spend Christmas

eigners living to in temperate regions to strive protect ODA. They usually want to relax in tropical continue to live up to this comcountries like the Philippines. mitment, despite facing This tough year’s influx of OFWs is expected to fiscal and economic pressures, be heavier sincemuch manyworse of them werewar now made by the unable to come home forChair the holidays in Ukraine,” DAC Susanna in December 2020.

Moorehead said.

“My“Multiple recommendation is to protect crises mean multiple the borders.

Do not allow people with demands on ODA. ODA must supa history of travel to countries with port people in need in all partner positive cases to enter,”forced Oplas said. countries—those to flee “Webecause should be restrictive.

[Weare of more conflict, those who havehungry to be] more protective in terms and those who are particuof our measures.” larly poor and vulnerable, especially Oplas saidand thatchildren while this willsuffer be women who a setback to some industries, this most,” she added. is a fair measure considering that The ODA received by the Philthisippines could help prevent placing the in from OECD members country in another strict lockdown,

By Cai U. Ordinario their DAC lovedmembers ones, while formost Official Development withdemic, committed

w w

n Monday, April 18, 190 Monday, November 29,2022 2021Vol.Vol.1717No.No.52

which, she said, the economy can no longer afford.

“It is better that we do protective preventive measures than get exposed again. We have a lot to lose,” Oplas said. “We should do it now so that we can open just before Christmas. If it gets contained, we can open it again.”

Ateneo Center for Economic Research Development (ACERD) “OECDand countries have once again shown Associate that even inDirector times of crisis,Ser theyPercival will step K. upPeña-Reyes saidto more closing the and provide support vulnerable country’s borders countries and people.”would be effective but should still adhere the —OECD Secretary-General Mathiasto Cormann standards set by the World Health Organization 2020 was the(WHO). highest between 2011 What is needed, Peña-Reyes and 2020.

The lowest was in told 2011 this newspaper, is for travel when disbursements to therestriccountry tions to be put in place swiftly and

contracted by $123.23 million. for government be provided proactive by in Meanwhile, to ODA imposing them. members of the OECD DAC in 2021 Previous instances when the included $6.3 billion spent on procountry had the opportunity imviding Covid-19 vaccines to to develpose travel restrictions did not oping countries, equivalent topre3.5 vent the spread of Covid-19.

That was percent of total ODA. mainly becauseODA the decision was not Excluding for donated Comade immediately, he saw said. vid-19 vaccines, ODA a 0.6-per“Kung papatay patay [If we’re cent increase in real terms from slow] and we get caught flat-foot2020, according to OECD. ed, [that’s We Covid-19 were toovacreODA forrisky] donated active instead to of nearly proactive cines equated 857 before. million We should from that,” Peñadoses for learn developing countries.

Reyes said. a delicatetotal, balancing Within the“It’s $6.3-billion some act. needorto1.3 push testing and $2.3We billion percent of total tracing to be properly informed ODA covered donated doses left ofover our decisions.

Blanket/shotgun from domestic supplies or approaches have dire consenearly 357 could million doses. quences on the economy.”

See “PHL,” A2 See “Omicron,” A2

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

NATL GOVT BORROWINGS ‘FISCAL PRUDENCE, NOT FOR MOS BEST DIP TO P2.75T NEW10 TAXES, OPTION’

By Bernadette D. Nicolas

By Cai U. Ordinario

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@BNicolasBM @caiordinario

HE HEnext national administration government’s would not have to gross raise taxes if it will use borrowings as of its resources efficiently end-October in order to ushershrank in a sustainable inclusive by almost and 6 percent economic recovery year-on-year to postpandemic, according to P2.75 trillion. local economists.

Latest data from the Bureau the Former Ateneo Center forofEcoTreasury showedand thatDevelopment the governnomic Research ment’s gross borrowings during the (ACERD) Director Alvin P. Ang said 10-month fell by 5.99 percent managingperiod expenditures would be from P2.92 trillion year ago. crucial for the next aadministration, With two fiscal months left for given theonly country’s challenges. thisAng year, the latest figure is already said the main issue for the equivalent to 89.6 percent of its next administration is the use of P3.07-trillion borrowing program. resources, especially in light of the Broken down, gross domestic borcountry’s challenges with higher rowings from January tothe October oil prices, Covid-19, and weak settled at P2.23 trillion, down by global economy.

5.08 percent from P2.35 trillion “[The] new administration should in 2020. have a battle plan for all of these [chalThe They bulk cannot of theadopt amount was lenges]. a populist sourced from Fixed Rate Treasury approach [especially] if there’s no Bonds (P1.19 flow,” trillion), by sure revenue Angfollowed told Busishort-term borrowings nessMirror on Sunday.from Bangko Sentral ng Pilipinas or BSP Ang said currently, the (P540 main billion), Retailfrom Treasury Bonds/Prethreats come the global econmyo (P463.3 billion), Retail omy’sBonds problems which impact the Onshore Dollar Bonds bilPhilippines.

This will(P80.84 also place lion).

In the there was pressure onsame the period, country’s ability also a net redemption of Treasury to borrow funding.

Bills amounting to P43.94 According to Ang, one waybillion. to raise Net debt redemption means revenues is through investments. there were more repaid (FDI) comBut Foreign Directdebts Investment pared to the amount borrowed durwill only reach Philippine shores if ing the the nextperiod. administration has a solid Meanwhile, gross foreign borplan for economic recovery. rowings in the same This plan, Ang said,period shouldalso incontracted by 9.7 percent to P518.7 clude efforts to standardize the billion from lastCovid-19 year’s P574.4 billion. government’s response.

This Eagle was raised global Ateneo Watchthrough Senior Fellow bonds (P146.17 billion),Jr.program Leonardo A. Lanzona agreed, loans (P139.98 billion), euro-deand said addressing the health sitnominated bonds (P121.97 billion), uation is something that the next aadministration project loan (P86.41 and shouldbillion), prioritize. yen-denominated samurai bonds See “Fiscal prudence,” A2 (P24.19 billion).

See “Borrowings,” A2

n

Omicron risk Permanently spurs revival displaced of quarantine workers rules in PHL fewer by 30%

EASTER RITES A traditional “Salubong”—a predawn ritual that reenacts the Risen Christ's meeting with His mother—is held at the National Shrine of Saint Padre Pio in Sto. Tomas, Batangas on Easter Sunday (April 17, 2022). The “salubong” is performed in the churchyard under a specially prepared arch where the veiled image of the Virgin Mary is placed. A child dressed as an angel is lowered by ropes from a high platform to lift the mourning veil of the grieving Mother. Church bells are rung, and images of Christ and His mother are displayed in a procession that ends up inside the church. ROY DOMINGO

By Samuel P. Medenilla

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PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass.

The country will celebrate the 158th birth anniversary of Filipino revolutionary hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO

3-M FARMERS LISTED FOR LEVY FUND 6OVER REGIONAL WAGE BOARDS TOP75-B WRAPCOCO UP HEARINGS

By Jasper Emmanuel Y. Arcalas @jearcalas

By Samuel P. Medenilla

M A

@sam_medenilla

ORE than 3 million coconut farmerswage and T least six regional workers are set now boards are now to regiscomtered with government’s regpletethe their public hearing istry, which serves as the basis for a possible minimum wage for the of peopletotothe be hike thisnumber month, according covered by the utilization of the National Wages and Productivity P75-billion coconut levy fund.

Commission (NWPC).

Philippine Coconut Authority In its website, NWPC posted (PCA) Deputy Administrator Roel the list of Regional Tripartite M. Rosales about 3.11Boards million Wages andsaid Productivity coconut farmers and farm work(RTWPB) which have scheduled ers have been registered with the government since it started up-

dating its registry following the enactment of the Coconut Farmtheir public hearing for minimum ers and Trust Fund law. wage rateIndustry review purposes before explained the Rosales end of the month. that about 500,000 coconut are farmers and These RTWPBs from the workers were added to the PCA’s Cordillera Administrative Region 2018 list 2.5Region million (April 19that to had 28),about Ilocos coconut farmers and farm workers.

(April 20), Bicol Region (April PCA’s nextRegion step is to con26 The to 28), Davao (April duct an exclusion-inclusion pro19), Soccsksargen (April 26), and cedure (April by making the updated Caraga 25 to 29). farmers’ registryinpublic, providThe RTWPB Western Viing everyone the opportunity to sayas earlier completed its public check thefrom veracity list, Rohearings Aprilof8the to 12. sales added. wage boards exMeanwhile, “The list will be posted in public spaces where people can easily see

them. This allows everyone to see who areto listed in the registry and if pected continue conducting farmerhearings doesn’t see hisnext namemonth then he public until shall coordinate with theCagayan PCA iminclude those from the mediately,” explained at a recent Valley regionhe(May 5), Central Ludialogue farmers. zon (Aprilwith 20 tococonut May 12), Mimathe27 other hand, people ropa“On (April to May 18), if Central would see names on the list and Visayas (April 12 to May 6), Eastthey think they are not coconut ern Visayas (April 22 to May 23), farmers or theirPeninsula details are(April incorand Zamboanga rect, 25 to they May can 4). report it to the PCA forInimmediate he added. the case action,” of the National TheRegion PCA official noted that Capital (NCR), its RTWPB the completion of the initialwill list announced its public hearing ofheld coconut farmers registry would be on May 5, but it has yet to be just in time for the expected rollout of coconut levy-funded

programs as President Duterte is expected to sign the industry publish the entire schedule. development early 2022.

The NWPC plan also in released the Rosales the PCA willfor not schedule of said a public hearing stop updating list of coconut the review of theits minimum wage andworkers. enjoined them to regoffarmers domestic ister in order to concluded reap the benefits Those to be this of the decades-long coconut month are from theidled Cordillera levy fund. “WeRegion will not(April stop at 3.1 Administrative 28), million.

We hope that more indiIlocos Region (April 20), Bicol Reviduals will26 register our coconut gion (April to 28),in Western Vifarmers registry,” he said. sayas (April 11), Central Visayas The12), updating of the Region coconut (April and Davao farmers (April 19).registry is mandated by Republic Act (RA) 11524 See “Wage boards,” A2 or the Coconut Industry Trust Fund Act. See “3-M farmers,” A2

@sam_medenilla

HE labor market has started NTER NATIONA showing signs Lof concerns recovery over themonth possible of the last as spread the number more infectious Omicron Coof permanently displaced workers vid-19 variant prompted the govdropped by 30 percent compared to ernment to reimpose mandatory last February, according to a new facility-based for all Department of quarantine Labor and Employarriving passengers ment (DOLE) report.in the country.

Acting Presidential spokesperIn its preliminary Jobs Displaceson Karlo B. Nograles announced ment Monitoring report obtained on BusinessMirror, Sunday that the Inter-Agency by DOLE was TasktoForce for38,446 the Management able register workers who of Emerging Infectious lost their jobs in March. Diseases (IATF) suspended Of these, 32,881the wereimplemendue to retation of its Resolution No. trenchments implemented by150910 A (s.2021), imposing firms, while effectively the remaining 5,565 stricter protocols for all inbound were affected by the permanent travelers. closure of 126 establishments.

To note, Resolution 150The latestIATF displacement figures A had allowed fully vaccinated were much lower compared to that non-visa travelers from Green List of last February (52,206), and Januareas to enter the country withary (56,286). outLabor the Assistant need forSecretary facility-based Domiquarantine asattributed long as they nique R. Tutay thesecure trend negative Reverse Transcriptionto the implementation of the Alert Polymerase Chain Reaction (RTLevel 1 in Metro Manila and other PCR) of test hours prior parts thewithin country,72 which allowed to their departure.

100-percent operational capacity forand countries classified for “Except businesses public transporas ‘Red,’ the testing and quarantine tation. protocols all inbound interna“We arefor hoping that it will contional to travelers in all entry tinue decrease inports the of coming shall comply theatesting and months as wewith expect better emquarantinesituation,” protocolsTutay for ‘Yellow’ ployment said in countries,” Nograles said, citing alist Viber message. theThe provision of IATF Resolution latest displacement figures No. 151-A. of DOLE bring the total number of He notedjobless Hong Kong, which has additional workers for the confirmed of the Omicron first quarteraofcase the year to 146,938. variant, will of also fall under the YelThe bulk these permanently low list countries. displaced workers are from the conThe suspension of the rules for struction sector (38,022) and the “Greenservice List” activities countries (24,186). will be in other effect from NovemberA228, 2021 to See “Workers,” December 15, 2021.

Continued on A2

PESO EXCHANGE RATES n US 52.1750 n JAPAN 0.4161 n UK 67.8536 n HK 6.6577 n CHINA 8.1955 n SINGAPORE 38.2599 n AUSTRALIA 38.8912 n EU 56.5055 n SAUDI ARABIA 13.9134 Source: BSP (April 13, 2022) PESO EXCHANGE RATES n US 50.4600 n JAPAN 0.4374 n UK 67.2329 n HK 6.4722 n CHINA 7.9013 n SINGAPORE 36.8968 n AUSTRALIA 36.2807 n EU 56.5758 n SAUDI ARABIA 13.4531 Source: BSP (November 26, 2021)

News

BusinessMirror

A2 Monday, April 18, 2022

OFWs in Shanghai seek aid, consulate staff also locked in

F

By Malou Talosig-Bartolome

@maloutalosig

ILIPINO workers in Shanghai are seeking help from the draconian measures of the Chinese government in implementing a citywide lockdown in China’s major financial hub.

China registered 3,529 new Covid-19 cases Sunday and 22,626 new asymptomatic cases Saturday, mostly in Shanghai. With a zerotolerance approach to pandemic management, Shanghai is now on its third week of lockdown and many Chinese locals and foreigners are angry at the lack of access to food, medicine and other essential supplies that come with the rigid control of people’s movement.

There are 4,000 Filipinos living

and working in Shanghai.

“I’ve been living here in Shanghai for 11 years and this has been my second home. It’s sad because this is not the Shanghai that I used to know,” Cristina (not her real name), a 38-year old OFW, told BusinessMirror.

Cristina said she was afraid that the local health authorities would forcibly quarantine her because she was told by the community leader in the residential complex where

Fiscal prudence...

Continued from A1

“Regardless of who becomes president, the government needs to first address the health situation so that we can withstand further virus attacks without engaging in lockdowns anymore,” Lanzona said.

Besides improving the country’s health system, Lanzona said the

government must be “more entrepreneurial in developing the other products and regions” by supporting agriculture.

In the 1980s, he recalled, the Malaysian government’s centerpiece program was Palm Oil Development. A similar program can

www.businessmirror.com.ph

PHL...

Continued from A1

Some $3.5 billion went to finance the purchase of doses for developing countries, and $0.5 billion went on secondary costs.

All but one of the DAC’s donors followed an OECD recommendation to value 2021 donations of excess Covid-19 vaccines at $6.72 per dose, and to make any necessary adjustments if they paid less to prevent any overstating of ODA. DAC donors spent a total of $18.7 billion on Covid-19 related activities, accounting for 10.5 percent of their combined net 2021 ODA – up from $16.6 billion or 10.2 percent of total ODA in 2020.

“OECD countries have once again shown that even in times of crisis, they will step up and provide support to more vulnerable countries and people,” OECD SecretaryGeneral Mathias Cormann said, presenting the new data.

“While the effort last year was another significant step up in development support, there continues

she lives that she got tested positive for Covid-19.

“I’m asymptomatic and I only live by myself here, I have my own toilet. I don’t want to be placed in a quarantine facility because some of my friends who’ve been there said it is bad out there. There’s no shower, no social distancing and we all have to wear masks 24/7,” she shared.

“An Italian friend of mine got tested negative four times and still, he’s not allowed to go out of the quarantine,” added the Filipina expat who works as a marketing specialist of a school in Shanghai.

She said local health staff came knocking at her door Saturday and for a while, she was scared, for fear that she would be taken forcibly to the quarantine facility. It turned out that she needed to be re-swabbed to reconfirm the positive result on her. “They came knocking at the door and they were shouting ‘Come out now, come out

now!’ And after a while, I came out and they swabbed my nose, it was really abrasive. I know health workers are tired but still, I felt they could have done this with less pressure.”

When she sought help at the Philippine Consulate General in Shanghai, a staff member called and asked about her condition. However, she said, the staff said there’s “not much that they can do” because they, too, are on lockdown.

BusinessMirror sought to confirm this with Consul General Josel Ignacio.

“It’s a tough lockdown. We’ve been attending to a deluge of such queries or requests for aid. We do our best to help and we make sure to reply to each one,” Ignacio said.

“We’re also locked down in our respective homes and team members are also having their own supply issues and are now rationing what they have. We’re looking at (hoping for) some easing in May, but things are fluid,” he added.

be implemented in the country not only to boost agriculture growth but also to become the base for manufacturing growth.

However, Lanzona admitted that such a program will require significant technological innovations, not only from the government but also from the private sector. Efforts to improve the government’s financial position are still needed.

“On the fiscal side, we need to

impose a wealth tax. Increasing the absorptive capacity of the government will be insufficient in light of the worldwide economic slowdown,” Lanzona said.

Tutay said the displacement for construction was probably from disrupted or discontinued small projects, while that for “other service activities” is from small businesses which were no longer able to recover from severe financial losses.

Rest of tax reforms

Testing the waters

BOOSTING public revenues, Action for Economic Reforms (AER) Coordinator Filomeno Sta. Ana III said, can be done through tax reforms.

He noted that tax reform packages 3 and 4 proposed by the Department of Finance (DOF) may no longer be legislated under the current administration.

The DOF said package 3 of the Comprehensive Tax Reform Program (CTRP) aims to promote the development of a just, equitable, and efficient real property valuation system.

Package 4 or the proposed Passive Income and Financial Intermediary Taxation Act (Pifita) aims to make passive income and financial intermediary taxes simpler, fairer, more efficient, and more competitive regionally.

Sta. Ana added that gaps and even “compromises” made in undertaking previous reforms also need correction in order to boost growth. He added that “there are products with negative externalities that need to be taxed higher.”

“Government has to grow the economy amid the uncertainty and volatility caused by the Russian invasion of Ukraine and the pandemic,” Sta. Ana said.

“That means continued heavy government spending for public goods which, however, must be tempered by cutting waste and inefficiency. A Marcos presidency however will spook good investments,” he added.

Pandemic shaves GDP

LAST week, the National Economic and Development Authority (Neda) said the pandemic has prevented the Philippine economy from breaching the P20-trillion mark in terms of its nominal GDP. In an online forum, Neda Undersecretary for Policy and Planning Rosemarie G. Edillon said if it weren’t for the pandemic, the country’s GDP would have already reached P22 trillion.

Edillon said this meant that the pandemic’s cost to the economy is around P3 trillion to P4 trillion. As of 2021, the country’s GDP in nominal terms reached P19.4 trillion, 99.4 percent of the P19.5-trillion GDP in 2019.

Because of the losses they incurred, businesses may have laid off workers or reduced the salaries of their employees or both in the past two years, Edillon said. This, the Neda official stressed, is the reason the government must accelerate the economy’s recovery.

to be much more to be done. With the world now hit by a new humanitarian crisis following Russia’s unprovoked war on Ukraine, we must make additional efforts to help those developing countries that will be hardest hit by supply shortages and higher prices for food and key commodities,” he added.

The Philippines is one of the 37 lower-middle-income country recipients of ODA from OECD countries. This group of countries includes other Southeast Asian countries such as Indonesia and Vietnam.

ODA makes up over two thirds of external finance for least-developed countries. The OECD also monitors flows from some non-DAC providers and private foundations.

Preliminary data released by the OECD each April is followed by final statistics published around the end of the year with a detailed geographic and sectoral breakdown.

Cai U. Ordinario

Workers...

Continued from A1

T HE ea si ng of bu si ness a nd movement restrictions imposed by the government to prevent the spread of Covid-19 also translated to a significant reduction in additional workers affected by f lex ible work ing ar rangement (FWA) and temporary closures (TC).

Last month, DOLE only registered 46,746 temporarily displaced workers, which was less than half of the 96,743 in January and 96,143 in February.

This brings the overall number

of temporarily displaced workers this year to 239,632.

Of these, 130,887 were covered

by FWA, while 108,745 were affected by TC. The most commonly implemented FWA are reduction of workdays (39,988), other unspecified schemes (26,023), compressed work week (19,767), and telecommuting work arrangement (17,519).

Based on her inquiry with some establishments, Tutay said the number of temporarily displaced workers still increased in March as some establishments have yet to restore their operations to prepandemic levels.

“They are still unable to recall 100 percent of their workers [to their workplaces] as they are still testing the current Alert Level 1 if it will be continued in the coming months,” Tutay said.

Samuel P. Medenilla

Cybercrime...

Continued from A12

He noted that 155 countries have adopted the registration of SIM Cards and even the telcos in the Philippines are supportive of the push for mandatory SIM card registration.

Without a law requiring the disclosure of personal information prior to purchasing a SIM Card, Manila Rep. Manny Lopez also said it would be very difficult, if not impossible, for government authorities to prosecute criminal acts arising from the use of mobile phones, as there are very limited means to identify the perpetrator.

“Only when government agencies are able to pinpoint the root cause of this problem can they begin to hold certain individuals responsible for the commission of this crime. Without any means of identifying these anonymous texters and personalities behind the fake social media accounts, we will not be able to put a stop to this recurring criminal act,” he said.

Earlier, Sen. Panfilo Lacson said the part that spurred the veto— the inclusion of social media account

registration — may indeed be violative of the Constitution.

Lacson said the inclusion of this requirement apparently violates the “one subject, one title rule” as defined by the Charter.

“I may have to agree with the presidential veto. Mandating social media registration could be violative of the “one subject, one title rule” as defined under the 1987 Constitution not to mention the absence of safeguards or guidelines in the said provision not even covered by the title of the measure itself,” he said.

On concerns that the bill impacts individual privacy and free speech, as cited in the veto message, Drilon, meanwhile, noted that Section 9 of the bill provides for the confidentiality clause which mandates that “any information obtained in the registration process described under this Act cannot be disclosed to any person.”

Drilon said “by vetoing this bill, the President lets trolls thrive, spread lies and hate, and fuel discord and division.”

Jovee Marie N. Dela Cruz

Wage boards...

Continued from A1

Four regions—Cagayan Valley Region (May 5), Central Luzon (April 20 to May 12), MIMAROPA (April 27 to May 18) and Eastern Visayas (April 22 to May 23)— have public hearings set for next month.

“Posted schedules [in the NWPC website] are those that have been published officially by concerned RTWPBs,” NWPC Executive Direc-

tor Maria Criselda R. Sy told BusinessMirror in an SMS. RTWPBs must first publish the schedules for public hearings before such can be held.

The public hearing is the last phase before the RTWPBs are able to finally deliberate if they will issue a new wage order, which will raise the minimum wage rate in their jurisdiction.

News

BusinessMirror

A4 Monday, April 18, 2022

PHL urged to focus on upgrading BPO, after pandemic performance

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By Bianca Cuaresma

@BcuaresmaBM

HE Philippines needs to focus on upgrading and improving its business process outsourcing (BPO) industry, after the sector proved to be a resilient source of economic growth during the pandemic, an international think tank said.

In its recent report on the regional economic outlook, Asean+3 Macroeconomic Research Office (AMRO) said the Philippines’s BPO sector proved its potential to be one of the main economic growth drivers in the country during the pandemic.

“In the Philippines, the growth in the business process outsourcing (BPO) sector during the pandemic was underpinned by technology’s crucial role in business continuity during the lockdowns and remoteworking conditions. BPO sector

revenues are projected to have grown 9 percent in 2021, from less than 2 percent the previous year,” AMRO said.

“With BPO employees tagged as ‘essential’ by the authorities, thus allowing for more mobility, the industry managed to take advantage of the pandemic-driven client demand in segments like healthcare, banking and financial services, and other high-value added areas like software and game development,” the think tank added.

Recently, continued dollar inflows from BPO receipts have been tagged by analysts and government officials as “helpful” in keeping the economy stable such as in its contribution to the country’s gross international reserves (GIR) level and balance of payments (BOP) position.

AMRO also said that to sustain

the BPO sector’s drive, especially in the increasingly competitive environment, the Philippines would need to constantly upgrade and innovate.

“In the Philippines’s case, this would entail continued investments in education and training to upgrade the skills of the BPO workforce to offer new services after existing softskill modern services jobs are lost to automation,” AMRO said.

“Most of the future growth in BPO services is expected to come from the healthcare and animation and game development sectors, which require technical and creative skills. However, only about 60 percent of Filipino BPO employees currently have the capacity to deliver the complex and high value services required by clients,” the think tank added.

www.businessmirror.com.ph

Duterte hopes successor succeeds in talks with CPP

By Samuel P. Medenilla @sam_medenilla

P

RESIDENT Rodrigo R. Duterte said he hopes the next administration will be able to reconnect and end the communist rebellion in the country after his term.

Duterte made the statement during his visit to Pontevedra Elementary School Evacuation Center in Pontevedra, Capiz, to check the status of those affected by tropical storm “Agaton” (international name: Megi) in the province last Saturday.

“I hope that whoever [president] comes in next after me, they would try to reconnect [with communist rebels] and I pray that it (talks) would succeed,” Duterte said in his speech during the visit.

The President said he once considered members of the Communist Party of the Philippines-National Democratic Front (CPP-NDF) as his friends, but the group’s continued threat to the

country’s peace and order prompted him to end the said friendship.

“When I became President, our relationship changed. You know, because I am now, in my hands the security and the safety of the nation. So, if they will not stop [with their rebellion], we will surely be in conflict with one another.

But we were friends; ‘were’ since it is already over,” Duterte said.

Duterte formally ended his peace talks with the CPP-NDF in 2017 after the group allegedly continued to attack government troops and civilians despite the said dialogues.

The administration then branded the CPP and its armed wing, the New People’s Army, as terrorist groups, and intensified its anti-insurgency initiatives through the National Task Force toEndLocalCommunistArmedGroup.

The President reiterated his call on members of the CPP-NDF to drop their arms and join the election if they really want to become part of the government.

IBP condemns slay try ‘Digital infra improvement key to good governance’ on Bangsamoro lawyer

By Rizal Raoul S. Reyes @brownindio

By Joel R. San Juan @jrsanjuan1573

T

HE Integrated Bar of the Philippines (IBP) condemned the recent attempt to kill Bangsamoro Chamber of Commerce and Industry chairman-lawyer Ronald Torres and urged law enforcement agencies to immediately establish the motive and identities of the perpetrators.

In a statement issued last Sunday, the IBP asked the Philippine National Police (PNP) and the National Bureau of Investigation (NBI) to immediately provide protection for Torres who survived an ambush attack last April 7 by still unknown gunmen while on his way home to Cotabato City.

“The IBP, thus, respectfully calls upon our law enforcement agencies, particularly the PNP and the NBI, to thoroughly investigate the matter, exact accountability, and all the more significantly, elevate state responsibility to guarantee that lawyers can do

their job without fear of reprisal or violence,” the IBP said.

The organization also requested authorities to provide protection to Torres and his family “until this matter is successfully resolved.”

The IBP assured Torres of the organization’s continued support in his bid to unmask those responsible for the attack and bring them to justice.

“Apart from instilling fear and restlessness in the hearts and minds of his family, such an occurrence plainly subverts the administration of justice, which is one of the hallmarks of our free and civilized society,” the IBP emphasized. “The danger to a lawyer’s very own wellbeing may unduly temper his zeal in representing his client to the fullest extent under the law.”

Torres was attacked by still unknown gunmen at around 4:30 p.m. Thursday as he was traveling home to Cotabato City. The lawyer and his driver managed to escape death as they were using a bulletproofed vehicle.

T

HE 2020 Outstanding Young Scientist opined that improved digital infrastructure is key to achieving good governance in the period of the Fourth Industrial Revolution (FIRe).

Erika Fille T. Legara, National Scientist and associate professor at the Asian Institute of Management, said such move would make Filipinos gain more access to technology and further appreciate data science.

Filipinos need to prepare for the future that will be dominated by data and information, Legara said.

She emphasized that the country needs to continuously upgrade its

data storage capacity and computing power as the data is experiencing 9-times to 10-times growth every two to three years.

Legara, a BS Physics cum laude graduate of the University of the Philippines-Diliman, said the country must first address the digital gap to enable young Filipinos especially women to have access and opportunities to study science, technology, engineering and mathematics (STEM).

“The power of STEM could uplift the lives of millions of Filipinos. We must spread awareness on the importance of data science to enable Filipinos to appreciate it,” Legara, named as 2020 Outstanding Young Scientist by the National Academy of Science and Technology (NAST),

said. “But first, we improve our digital infrastructure so many Filipinos can access these tools.”

Earlier, she said that the Philippines was losing billions of dollars in revenue as the country is experiencing a dearth of data science talent.

Legara said that applying data science methods to the government could improve efficiency and transparency in its operations. Hence, she urges government to proceed with total digitalization in its operations. “[Government] should use cloud technology to store data that is accessible for everyone so it can be applied on different mission levels,” Legara, also the academic director of the AIM Master of Science in Data Science program, said.

Search, retrieval ops continue in ‘Agaton’-hit Leyte villages

By Rene Acosta @reneacostaBM

KBL leadership affirms support for BBM, eyes raps vs usurpers

T

HE national leadership of the Kilusang Bagong Lipunan (KBL) has upheld its support for the candidacy of presidential frontrunner Ferdinand ‘Bongbong’ Marcos Jr., even as they dispelled reports that some members in their Baguio chapter have shifted their allegiance to another candidate.

In a news conference in Baguio City, KBL Vice President for Luzon Chris Garrido read the party’s official statement, belying the reported withdrawal of support from its Baguio chapter members.

“This is to inform the public that there is no truth to the publicized withdrawal of support of the KBL members in Baguio City. We want to assure you that our officers and members are fully in support of BBM,” a portion of the statement signed by KBL National President Efren A. Rafanan Sr. read.

On April 13, a group of KBL-Baguio Benguet officers were invited to a private residence lunch meeting and told to bring their appointment papers by a fellow party official.

Several officers who attended the Wednesday event explained to the media that they were kept in the dark about the reason for the meeting.

After entering the venue, the group said the gates were closed behind them and media members streamed in, taking photos and videos.

They added that they felt helpless

as a tarpaulin bearing the image of Manila Mayor Isko Domagoso was unfurled behind them while they were raising their KBL appointment papers.

“Nakisakay na lang kami dahil wala na kaming magawa at sumunod na lang sa kanila [We just went along with it and followed them],” the group said.

The group also showed a T-shirt, ID sling and a pack of rice given to them by the event organizer they identified as Aries Mendoza.

According to Rafanan, an initial investigation conducted by Chris Garrido, the party’s vice president for Luzon, revealed a nationwide effort from the Domagoso camp to “present a scenario” where Marcos supporters are backing out and switching to Domagoso.

Rafanan denounced this as “a desperate attempt” to show an artificial increase in the number of his supporters and prevent the victory of BBM, who has consistently topped surveys.

Rafanan said that the KBL leadership is looking to file charges against the individuals responsible for the “frame up” and “vote buying” directed at their members.

“We appeal to our supporters to be in tact and vigilant, as there are divide and rule and demolition strategy being undertaken by opposing parties and individuals to thwart the imminent landslide victory of BBM and SARA and the UniTeam,” Rafanan added.

She said the country will need analysts, scientists and engineers to churn out the underutilized data coming from the different sectors such as government and telcos.

With a sufficient pool of data scientists, Legara said the Philippines will be able to explore the potentials of diagnostics analytics, predictive analytics and prescriptive analytics that would contribute to the development to better decision-making by government officials.

Legara said big data analytics, cloud computing and simulation of models for policy are tools that the government should apply.

“But all the other pillars of FIRe are equally important,” she said during a webinar by the NAST.

A PRESIDENTIAL BETS’ JOINT PRESSER Former national security adviser Norberto Gonzales (center) gestures as he chats with

Manila Mayor Isko Moreno and Sen. Panfilo Lacson at a joint press conference they held at Manila Peninsula on Easter Sunday. They declared they have no plans of withdrawing from the presidential race. (Story on page A12.) NONIE REYES

Pro-Robredo Sumilao farmers reach CamSur

S

UMILAO farmers who are taking their march from Mindanao to Luzon in support of the presidential candidacy of Vice President Leni Robredo have reached Camarines Sur on Easter Sunday.

The 17-man Sumilao farmers marched from Iriga City to Naga City, the home province of Robredo, as they reached Camarines Sur in Bicol region where they barnstormed provinces, cities and towns campaigning for Robredo.

The farmers left Maramag in Bukidnon on March 28 for their March to Manila, which they hoped to reach by May 7, in their campaign for Robredo’s election as the country’s next president.

In 2007, Robredo, a lawyer for the poor, and her husband, then Naga City Mayor Jesse Robredo, welcomed

the farmers from Sumilao in Bukidnon in Naga and gave them food as they marched from Mindanao to Manila, passing by Bicol, to fight for ownership of their ancestral lands.

Meanwhile, the family and relatives of the vice president, including daughters Aika, Tricia and Jillian, visited Naga Market to campaign for Robredo.

“Lumaki kaming pinupuntahan ang ating mga kababayan sa kung nasaan sila. 22 araw na lang at balak naming suyurin ang marami pang lugar. Walang sitio ang malapit o malayo, walang munisipyo ang malaki o maliit. Lahat mahalaga,” Aika said. [We grew up visiting our countrymen wherever they were. It’s only 22 days and we plan to explore many more places. There is no sitio near or far, no municipality big or small. Everything matters.]

The Robredo children passed by the tomb of their father, the late DILG Secretary Jesse Robredo, at Eternal Gardens in Camarines Sur. On Saturday night, it was Robredo herself who did some houseto-house campaigning at Barangay Sabang in Naga City.

“Paalala lang at paghihikayat sa lahat na volunteers na bawat pagkakataon, ang pakikiusap, tao sa tao,” Robredo said. “Masaya ang tao pag siya binibisita mo at naglalaan ka ng oras na makipagkuwentuhan. Na miss ko yata ang ganitong klaseng pag-iikot,” she added.

[This is just a reminder and encouragement to all volunteers that every opportunity, every request, is person to person. A person is happy when visited and given the time to talk. I think I miss this kind of visits.] Rene Acosta

T least 172 people have been reported killed due to Storm Agaton, the National Disaster Risk Reduction and Management Council (NDRRMC) said on Sunday as search and retrieval teams continued to clear landslide-hit villages in Baybay City and Abuyog, both in Leyte.

The NDRRMC said at least 110 people remained missing due to flooding and landslides that hit Visayas and Mindanao last week.

Agaton triggered flooding in 517 areas in Regions 6, 7, 8, 9, 10, 11 and 12, Caraga and Barmm; although waters have receded in 317 areas. At least 583,994 families or 2,015,643 individuals were affected in 2,419 barangays in the nine regions, NDRRMC data revealed.

The NDRRMC said 64 municipalities were still without power while 20,383 houses were partially damaged or totally destroyed.

Meanwhile, the Philippine Coast Guard (PCG) responded to a fire that hit M/V General Romulo with 20 crew members onboard in the waters ofTalisay City, Cebu on Sunday.

Coast Guard Sub-Station (CGSS) Talisay received information that M/V General Romulo, a container ship and domestic vessel, was caught on fire while anchored.

Coast Guard Spokesman Commodore Armando A. Balilo said personnel stationed in Talisay and members of the Talisay City Bantay Dagat responded to the incident and conducted medical evacuation.

Balilo said three were reported injured and one was killed.

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Editor: Jennifer A. Ng • Monday, April 18, 2022 A5

PHL abaca output down by 13% in Jan-Feb

By Jasper Emmanuel Y. Arcalas @jearcalas

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HILIPPINE abaca production in the first two months of the year declined by 13.7 percent to 8,693.38 metric tons (MT) from 10,076.41 MT as the output of Bicol region—the country’s top abaca producer—continued to fall.

Despite the double-digit decline, Philippine Fiber Industry Development Authority (PhilFida) Executive Director Kennedy T. Costales said he remains confident that the agency’s 70,000-MT production target this year would still be achieved. The target this year is 3.72 percent higher than the 67,488.11 MT recorded last year.

“It’s too early to conclude [that we will miss the target]. There’s still a possibility that production could rebound,” Costales told reporters in a recent interview.

Data from PhilFida, an agency

ABACA tuxy. PHOTO FROM THE WEB SITE OF PHILFIDA

attached to the Department of Agriculture, indicated that the Bicol region’s performance during the pe-

riod pulled down overall production in January and February.

Abaca production in the Bicol re-

gion plunged by nearly 35 percent year-on-year to 2,361.37 MT. Output in Catanduanes, the country’s largest producer of abaca, fell by 30.8 percent to 2,041.38 MT from last year’s 2,951.47 MT. In January, Costales said the downward trend of abaca production in the Bicol region is “very alarming.”

He went to the extent of saying that abaca production in the Bicol region could disappear in six to seven years if the downward trend continues.

Costales said farmers in the Bicol region practice “bacbac” or “umbak” and “pojada” harvesting that led to the spread of diseases and the decline in their abaca output.

PhilFida data also showed that abaca production in other key regions, such as Northern Mindanao and Davao, declined during the twomonth period.

Abaca output in Northern Mindanao fell by 13.2 percent to 1,137.5

MT from 1,310.83 MT while production in Davao region plunged by 21.8 percent to 1,705.14 MT.

Expansion program

COSTALES said PhilFida is also looking into the possible reasons behind the 13.7-percent drop in abaca output in the first two months of the year.

“We are still studying the factors that led to the decline, because we have the momentum coming from an increase in 2021 then it suddenly fell,” he said.

Costales was referring to the rebound in local abaca output last year, when volume expanded by 9.8 percent to 67,488.11 MT from 61,491.66 MT in 2020.

He said abaca output last month and this month may be lower due to continuous rainfall.

“This is the first time that we have had two typhoons as early as April.

When it is raining, farmers cannot

harvest, therefore production slows down,” he said. “Most likely we will see declines in March and April.”

Nonetheless, Costales said the huge global demand for abaca, which he estimated at 150,000 MT, and the agency’s massive planting and replanting program in the previous years would enable local output to hit 70,000 MT this year.

He added that the agency continues to implement its abaca expansion program. Some 1,500 hectares of abaca farms are expected to be opened this year.

Costales said the country’s total abaca output last year could have returned to the 70,000 MT-level if Typhoon Odette did not damage nearly 15,000 hectares of abaca plantation last December.

The Philippines produces 85 percent of the world’s abaca fiber supply, and 1.5 million Filipinos depend on it for their livelihood.

Farm business school to give ‘Better R&D funding enables stronger partnerships training to Sarangani planters between UP-BIOTECH and farmers, fishers’

By Jonathan L. Mayuga @jonlmayuga

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EMBERS of the Kapate Agrarian Reform Beneficiaries Farmers Association (KARBFA) based in Sarangani Province will undergo training in the farm business school (FBS) in this province starting this month.

Department of Agrarian Reform Sarangani Chief Cenon S. Original said the activity will help farmers upgrade their knowledge and skills in developing competitive farm enterprises that will open opportunities for them to earn more.

“In collaboration with other government agencies and local government units, this training will enhance the farmer-beneficiaries capacity towards higher productivity and income. This way, it will also help alleviate poverty and contribute to national food security,” Original said in a statement.

During the launching of the FBS in Barangay Kapate, Kiamba, Pro-

vincial Agrarian Reform Program Officer Ramonito C. Marciano urged the farmer-beneficiaries to make a difference in their lives.

“They need to devote some time to train their minds and hands so that their talents in farming and marketing will propel them in acquiring their most desired treasures,” Marciano said.

The FBS weekly sessions, which will be conducted by Provincial FBS facilitators Kristine Joy C. Carriedo and Lorna S. Acanto, will cover 25 modules designed for on-site training. The 25 enlisted agrarian reform beneficiaries will be trained to become agricultural entrepreneurs by learning agroenterprise principles.

“Since the official registration of our organization last year, we have seen the interventions of the DAR unfolding at great length, and for this, we are very grateful. As a farmer-leader, I encourage my fellow ARBs to seize this opportunity to become better because I believe this training will open opportunities for us,” said Alejandro Sanchez, KARBFA President.

P

RESIDENTIAL bet Panfilo ‘Ping’ Lacson has credited his recent town hall meetings in building mutually beneficial working relationships between ordinary people and relevant organizations that can help them, thus proving that his priority lies on establishing connections, not creating political divisions.

In an interview with a Zamboanga City-based online radio station earlier this week, Lacson mentioned how he is actively supporting farmers and fisherfolk by referring them to institutions like the University of the Philippines-National Institute of Molecular Biology and Biotechnology (UP-BIOTECH).

Problems over the high costs of conventional fertilizers were among the typical concerns raised by many farmers and agricultural workers to Lacson and vice-presidential running mate Senate President Vicente ‘Tito’ Sotto III during their town hall meetings before the Holy Week break.

Lacson and Sotto have been instrumental in augmenting the national budget allocation for UP-

BIOTECH, which enabled it to increase its funding for research and development (R&D). This led to the innovation of more cost-effective organic fertilizers that local farmers can use for their crops.

“Napaka-enthusiastic nila nang malaman nilang naiuugnay natin sila sa mga magsasaka… Kung tutulungan lang sila ng Department of Agriculture (DA) para ma-upscale ’yung kanilang production, distribution, application ng kanilang mga biofertilizers,” Lacson said over the program “Emedia Mo.’ [They (UP-BIOTECH) were very enthusiastic when they learned that we were connecting farmers to them… If only the Department of Agriculture (DA) can support them to upscale the production, distribution, and application of their biofertilizers.]

According to Horizon magazine, the official publication of UP Los Baños, researchers from the UP-BIOTECH have developed biofertilizers such as Nutrio for sugarcanes and Mykovam for trees, crops, and ornamental plants. They are eco-friendly and

4 bets to stay in prexy race, tell N Leni to withdraw instead

are sold cheaper than petrochemical fertilizers.

Lacson is hoping more farmers would prefer using more organic and locally developed fertilizers in the country to boost their food production. This way, workers in the agricultural sector could save up to P3.57-billion in production costs, according to the senator.

The presidential aspirant reiterated his plans to increase better appropriations for the R&D sector—from a mere 0.4 percent share in the national budget to at least two- or three-percent of our gross domestic product—in aid of farmers and fisherfolk enroute to achieving food security.

Aside from developing organic fertilizers, the UP-BIOTECH also has a program called Project SARAI (Smarter Approaches to Reinvigorate Agriculture as an Industry) in the Philippines, which trains farmers in using technology to facilitate their crop irrigation needs through water management.

Meanwhile, the DA has recently estimated a total of P639.7-million in agriculture damage and losses

following the onslaught of tropical storm ‘Agaton.’ This affected some 10,453 farmers across five regions in Visayas and Mindanao, according to media reports.

In a status update posted on his official Facebook page on Good Friday, senatorial aspirant and former Agriculture Secretary Emmanuel F. Piñol called on both citizens and public officials alike to pay closer and serious attention to environmental hazards and its effects on the lives and livelihoods of Filipinos.

“Killer floods are signs of our greed, destroying forests and mountains to amass wealth, sacrificing lives. We remain blind!” Piñol lamented. He has been a longtime advocate of various national reforestation programs.

“As part of my personal advocacy for Green Philippines, my farm nursery has already distributed 500,000 Giant Bamboo propagules all over the country. Next week, we will deliver 10,000 GB planting materials in seed bags to Typhoon ‘Odette’ battered Bohol,” Piñol posted last April 14.

USDA identifies new bird flu cases in Pennsylvania

continued from a12

Gonzales claimed that former Comelec commissioner Rowena Guanzon from Robredo’s camp and two other “close friends” talked to him on withdrawing from the presidential race as a “patriotic” duty.

In their joint statement, Moreno, Lacson, Gonzales and vice presidential candidates Dr. Willie Ong and Senate President Vicente Sotto III said none of them would withdraw from their race and will continue their campaigns until May 9 elections.

The candidates vowed to serve the government if one of them gets elected.

They also vowed to join forces to fight any plan to distort the real decision of the Filipino people.

Best chance

IN a press statement, Akbayan partylist group said the joint press conference of presidential candidates may be considered a first in Philippine politics, but it is also a “historic missed opportunity, a triumph of macho egos and a tragedy of political and common sense.”

According to the group, Robredo represents “our best” chance to defeat Marcos Jr. “Of all the presidential candidates

opposed to Marcos Jr., Leni pulls the biggest numbers, carries the momentum and enjoys the support of a truly broad democratic movement. Failure to see this is foolish and selfish. This presidential election is bigger than the self interest of all the candidates.

Their careers and reputations are not at stake here, but the very soul and future of our democracy. With 22 days left before the election, we hope that the said presidential candidates will see the forest and not just the trees, and defend the nation’s interests far beyond their oversized egos and fragile skins,” it said.

‘Subverting’ democracy

LACSON, who declared himself an independent presidential candidate after resigning from Partido Reporma, described maneuvers to make him withdraw from the race are akin to a plot to subvert democracy by limiting people’s choices in the May 9 presidential derby.

“We are not the only one being wooed,” Lacson said, confirming that he was not alone in getting feelers to withdraw from the presidential derby in exchange for financial and other considerations.

In a press conference with fellow candidates, Lacson lamented, partly in

Filipino: “They are subverting the will of the electorate even before the elections.

In so many words, what is this? This is an attempt to subvert the will of the electorate even before Election Day.” Lacson affirmed this was “the essence of our press conference - and a warning against those concerned against subverting the will of the electorate because we will stand up as one,” refering to other presidential candidates at the press conference.

For his part, Gonzales narrated their own experiences of being approached to back out of the race - and made a similar vow to reject the plot.

Lacson said he and other rival presidential bets vowed to unite “against those trying to subvert the democratic process, and to continue with their respective campaigns.”

Lacson made it clear that, “nobody will withdraw. We will go all the way till May 9, come what may. Let us not buy theirpropagandanomatterhowfouland below the belt,” the senator stressed.

He named ex-Quezon City Mayor Brigido Simon Jr. as the messenger who approached him to withdraw in favor of Robredo after a meeting with Robredo at least twice earlier, adding that he learned from Gonzales that he had a similar experience. With a report from Butch Fernandez

EW cases of bird flu have been detected in a commercial chicken flock in Pennsylvania and a backyard flock in Utah, the United States Department of Agriculture said Saturday, in what is one of the worst outbreaks in the country’s history.

Avian influenza has affected more than 24 million wild, commercial and backyard birds since midJanuary and the virus is pushing the price of eggs and poultry higher.

The price of processed eggs, used in liquid or powered form in every-

thing from cake batter to chips, has soared to record highs and is adding to production costs for a wide-range of food brands on top of existing inflationary pressure.

Farmers in the Midwest, where much of the nation’s egg and poultry supply is located, have been hit particularly hard. The latest cases were found in Lancaster County, Pennsylvania and in Utah County, Utah, the USDA said.

Infected animals, including chickens and turkeys, are often killed to prevent further spread of

the virus. The USDA is investigating a new vaccine to fight the flu.

Recent detections do not present an immediate public health concern to humans, according to the US Centers for Disease Control and Prevention.

More than 50 million chickens and turkeys died from the highly pathogenic virus or were depopulated during a previous outbreak between 2014 and 2015. It cost the US economy about $3.3 billion in losses, according to a USDA assessment. Bloomberg News

PHL justifies imports sanitary permits continued from a12 “The United States urges the Philippines to comply with its obligations to the Agreement on Import Licensing Procedures, General Agreement on Tariffs and Trade, Agreement on Agriculture, and Agreement on the Application of Sanitary and Phytosanitary Measures,” the United States said in its communication dated March 22.

In its latest communication, the United States sought explanation from the Philippines regarding its import rules concerning onions, following a statement from Agriculture Secretary William D. Dar that the Department of Agriculture will manage the commodity’s entry to address the

concerns of local farmers.

“Please explain the CNI (Certificate of Necessity to Import) requirement and its relationship to the issuance of SPS-ICs. How is the establishment of “import necessity” prior to issuance of SPS-ICs different from a quantitative restriction?” the United States said.

“What is the phytosanitary justification for limiting the volume of product for which SPS-ICs will be issued to the CNI volume?” it added.

The United States also took notice of Socioeconomic Planning Secretary Karl Kendrick T. Chua’s comment

regarding the release of SPS-ICs of rice during the lean season.

“Please explain the comment from Secretary Chua on the seasonal practice of SPS-IC issuances for rice,” the United States said.

The United States also asked the Philippines if it does not have any plans to make the current 90day validity for SPS-IC of imported meat products “permanent.”

“How are SPS-IC validity periods for commodities determined and why are SPSIC validity periods for other commodities, such as fish and plant products, shorter than for meat and poultry SPS-ICs?” it said.

A6 Monday, April 18, 2022

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BusinessMirror

Monday, April 18, 2022 A7

A8 Monday, April 18, 2022

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Editor: Angel R. Calso

Biden to host Southeast Asian leaders for May 12-13 summit

W

ASHINGTON—President Joe Biden will host leaders of the Association of Southeast Asian Nations in Washington next month for a summit, the White House said Saturday.

The May 12-13 gathering is meant to demonstrate the United States’ commitment to being a partner with countries in the region.

The White House previously had announced that the summit would be held March 28-29, but the regional grouping of countries known as Asean sought a postponement due to scheduling concerns among some of its members.

The summit will commemorate 45 years of relations between the US and the Asean nations.

The gathering follows Biden’s participation in an October 2021 summit where he announced $102 million in new initiatives to help these countries with Covid-19 and health security, climate change, economic growth and gender equality.

“It is a top priority for the Biden-Harris Administration to serve as a strong, reliable partner in Southeast Asia,” White House press secretary Jen Psaki said Saturday in a statement.

“Our shared aspirations for the region will continue to underpin our common commitment to advance an Indo-Pacific that is free and open, secure, connected, and resilient.”

Asean’s 10 members are Brunei, Cambodia,

Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Its members have been at odds with each other over Myanmar, which has been wracked by violent unrest since the army ousted the elected govern-

Shanghai infections top 23,500 as Xian starts partial lockdown

North Korea says it tested new tactical guided weapon

S

hanghai’s coronavirus outbreak continued unabated with more than 23,500 new cases, while the northwestern Chinese city of Xian said it will temporarily impose a partial lockdown after reporting dozens of infections this month.

China reported 24,680 new daily infections for Friday, according to the National Health Commission. More than 80 percent of Shanghai’s cases were asymptomatic as the virus continues to disrupt spread despite the weeks-long lockdown of 25 million people in the financial hub.

Xian said on Friday that it will act to reduce movements of its residents for four days till April 19. People are advised to stay at home and refrain from unnecessary out-of-home activities, while major entertainment businesses including cinemas, bars, museums and hotels are temporarily closed. Restaurants are required to only provide take-away services.

As infections pop up in more and more cities, lockdown measures are hitting Chinese consumption, industrial output and supply chains, and taking a toll on the world’s secondlargest economy.

The lockdown in Shanghai has spawned some of the most anti-government criticism in years on the country’s tightly controlled social media, Bloomberg News reported this week. While food shortages have eased in some places, residents of a Shanghai area that hosts research centers for major tech firms fought with police over plans to open quarantine facilities near them, underscoring burgeoning anger over the Chinese government’s handling of its worst Covid outbreak since Wuhan in early 2020.

President Xi Jinping reiterated earlier this week that China will adhere to the Covid Zero policy despite the hardships it is causing, with the government adamant it is less damaging than allowing the virus to spread unconstrained across the country. Bloomberg News

1 dead, 7 injured in explosion aboard tanker off Hong Kong

H

ONG KONG—One person was killed and seven others injured Saturday in an explosion aboard an oil tanker in waters off Hong Kong, authorities reported.

The Hong Kong Maritime Rescue Coordination Center said the tanker was 300 kilometers (186 miles) east of Hong Kong when it caught fire as a result of an explosion. The fire was extinguished, according to state-run Radio Television Hong Kong.

The Government Flying Service sent a fixedwing aircraft and two helicopters with doctors aboard to the Panama-registered Chuang Yi vessel to transport the injured to a hospital in the city. One crewmember was reported to have died and four others were in serious condition, RTHK reported.

The cause of the explosion was not immediately clear.

The casualties reportedly included crewmembers from Indonesia and Myanmar.

According to ship tracking apps, the 5,500ton oil and chemical tanker was on its way to Taiwan. The 120-meter (393-foot) long tanker is 22 years old. AP

President Joe Biden speaks at North Carolina Agricultural and Technical State University, in Greensboro, N.C. on Thursday, April 14, 2022. AP Photo/Carolyn Kaster

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EOUL, South Korea—North Korea has testfired a new type of tactical guided weapon designed to boost its nuclear fighting capability, state media reported Sunday, days after it passed its biggest state anniversary without an expected military parade, which it typically uses to unveil provocative weapons systems.

The test, the 13th round of weapons launches

by Pyongyang this year, came amid concerns that North Korea may soon conduct a larger provocation like a nuclear test in an effort to expand the country’s weapons arsenal and increase pressure on its rivals amid stalled diplomacy.

The official Korean Central News Agency said leader Kim Jong Un and other top officials observed the launch. It said the weapon tested has “great significance in drastically improving the firepower of the frontline long-range artillery units, enhancing the efficiency in the operation of [North Korea’s] tactical nukes of and diversification of their firepower missions.”

KCNA didn’t elaborate, but the mention of the word “tactical nukes” suggested the weapon is likely capable of carrying a battlefield nuclear warhead that could hit strategic targets in South Korea, including US military installations. The KCNA dispatch didn’t say when and where the launch occurred.

“North Korea is trying to deploy not only longrange nuclear missiles aimed at American cities but also tactical nuclear weapons to threaten Seoul and US bases in Asia,” said Leif-Eric Easley, a professor at Ewha University in Seoul. “Pyongyang’s purposes likely exceed deterrence and regime survival. Like Russia employs the fear it could use tactical nukes, North Korea may want such weapons for political coercion, battlefield escalation and limiting the willingness of other countries to intervene in a conflict.”

Some observers speculated the weapon tested Sunday might be a smaller, lighter version of North Korea’s nuclear-capable KN-23 missile that has a highly maneuverable and lower-trajectory flight aimed at defeating missile defense systems.

South Korea’s Joint Chiefs of Staff said in a statement Sunday that it had detected two projectile launches from the North’s eastern coastal town of Hamhung early Saturday evening.

It said the projectiles flew about 110 kilometers (68 miles) at an apogee of 25 kilometers (16

ment of Aung San Suu Kyi in February last year.

Asean is seeking to implement a five-point plan for Myanmar it reached last year stressing dialogue, humanitarian assistance and an end to violence. But Myanmar’s ruling military council has delayed the plan’s implementation even as the country has slipped into a situation that some UN experts have described as civil war.

Myanmar’s lack of cooperation led Asean last year to bar its leader, Senior Gen. Min Aung Hlaing, from attending its annual summit meeting, an unprecedented step for the body whose members traditionally have avoided public criticism of each other and have operated by consensus.

It has applied a similar policy for subsequent meetings, saying that it would allow Myanmar to send only non-political representatives.

Biden hosted Singapore’s prime minister, Lee Hsien Loong, for talks last month in which the president tried to assure Singapore and other Pacific allies that the administration remains focused on the region even while working with Europe and other allies to end Russia’s invasion of Ukraine. AP

miles) and at a maximum speed of Mach 4. The statement said South Korean and US intelligence authorities are analyzing additional details of the launches. South Korea’s presidential office said officials have met twice this weekend to discuss the North Korean military activities.

North Korea has started this year with a slew of weapons tests, including its first flight test of an intercontinental ballistic missile since 2017.

South Korean and US officials said Pyongyang could soon launch additional provocations like another ICBM test, a rocket launch to put a spy satellite into orbit or even a nuclear test explosion that would be the seventh of its kind. South Korea’s military said it has detected signs that North Korea is rebuilding tunnels at a nuclear testing ground it partially dismantled weeks before it entered now-dormant nuclear talks with the United States in 2018.

Sunday’s KCNA dispatch quoted Kim as presenting unspecified tasks to build up North Korea’s nuclear combat forces and its defense capability after praising what he called successive progress in its efforts to reinforce the country’s war deterrence power.

The North’s recent testing activity involved the sophisticated weapons systems Kim has vowed to introduce to cope with what he calls American hostility. Analysts say North Korea may perform more missile tests after the South Korean and US militaries begin their annual drills this week because North Korea views them as an invasion rehearsal.

“North Korea has a domestic imperative to make and perfect weapons ordered by Kim Jong Un last year regardless of what the US does or doesn’t do. The test also tells his people that their country is strong despite their apparent economic difficulties,” said Duyeon Kim, a senior analyst at Washington’s Center for a New American Security. “One reason for the political timing could be to protest anticipated US-South Korea military drills.”

On Friday, Kim attended a massive civilian parade in Pyongyang that marked the milestone 110th birth anniversary of his state-founding grandfather, Kim Il Sung. It appeared the country passed its most important national holiday without a highly anticipated military parade to showcase its new weapons systems. AP

Army denies ‘sinister’ allegations of crackdown on Sri Lanka protests

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ri Lanka’s army denied speculation it is planning to crack down on protesters seeking the ouster of President Gotabaya Rajapaksa.

In a statement Saturday, it termed as “sinister” allegations that troops are training to assault the demonstrators. Soldiers will step in only if the police call on them for assistance, the army said.

“Troops as everyone witnessed in the past few days, have NOT at all interfered with any of those peaceful protesters or organizations, NOR have they acted against the interests of the State as disciplined members of an organization which brought peace to this country through immense and invaluable sacrifices,” the army said.

Citizens have occupied the sea face opposite Rajapaksa’s office for eight straight days, accusing him and his brother, the Prime Minister, of misrule leading to the island’s worst economic crisis in decades. The protesters have rejected offers for negotiations and are seeking the immediate resignation of the Rajapaksas.

Rajapaksa—a former military officer and exDefense Secretary credited with crushing a threedecade civil war—has been defiant. In traditional

festival greetings last week, he urged “unity and understanding,” while Prime Minister Mahinda Rajapaksa reminded citizens of his family’s role in ending the war in 2009.

Speculation of a crackdown had escalated in recent days as the nation approaches the anniversary of the 2019 Easter Day bombings, which had killed more then 200 people. The Rajapaksas swept back to power following the attacks, promising security and stability in a country where the economy had slowed and debt had soared.

Opposition leaders are declining to work with Rajapaksa until he relinquishes some of the wideranging executive powers he amassed for the President’s Office through a constitutional amendment in 2020. Lack of political stability may imperil talks due to begin in the coming week for a much-needed loan from the International Monetary Fund.

The army in its statement asked citizens to place “full confidence in the troops as it has been done in the past because current serving troops remain more trained, professionally-qualified and well-suited to take on any security challenge, in this scenario, ONLY if the Police call us to assist them.” Bloomberg News

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For many, Easter Sunday marks a return to in-person worship

By Steve Leblanc, Giovanna Dell’orto & Luis Andres Henao The Associated Press

B

OSTON—For many US Christians, this weekend marks the first time since 2019 that they will gather in person on Easter Sunday, a welcome chance to celebrate one of the year’s holiest days side by side with fellow congregants.

The pandemic erupted in the country in March 2020, just ahead of Easter, forcing many churches to resort to online or televised worship. Many continued to hold virtual services last spring after a deadly winter wave of the coronavirus and as vaccination campaigns were still ramping up. But this year more churches are opening their doors for Easter services with few Covid-19 restrictions, in line with broader societal trends.

Among them are Catholic parishes in the Archdiocese of Boston, which since last June has once again required most churchgoers to attend Mass in person—though those with health risks may still watch remotely, and pastors have been asked to make space for social distancing in churches.

MC Sullivan, chief health care ethicist for the archdiocese, said celebrating Mass communally is important to how Catholics profess their faith.

Church attendance has been trending upward, and parishioners are excited to gather again to commemorate Christ’s resurrection.

“It has been quite wonderful to see how well-attended Mass is right now....It seems to have brought a lot of people back to the idea of what’s important to them,” she said.

While most pandemic restrictions have been lifted, some area parishes are holding Easter Sunday services outside, including a 6 a.m. sunrise Mass near the waterfront in South Boston.

Hundreds of people lit candles in the vast Cathedral of St. Paul, Minnesota, after Archbishop Bernard Hebda blessed the fire and lit the Paschal Candle to open the Easter Vigil service late Saturday.

The century-old cathedral echoed with the singing of the congregation as candles flickered in the darkness.

Well past 8 p.m., wide-eyed children fascinated by the little flames and the cantors far outnumbered people wearing masks—the archdiocese rescinded all Covid protocols on April 1, while allowing the faithful and individual parishes to retain precautions if they wish.

Similarly the nearby Holy Trinity Lutheran Church, which became a community hub during protests over George Floyd’s killing in 2020, ended its mask requirement as of Palm Sunday and returned to shoulder-to-shoulder communion at the rail instead of in the pews. Ingrid Rasmussen, the pastor, said Easter attendance was expected to be similar to pre-pandemic levels—but split

between those in pews and those joining remotely.

Christ Church Lutheran, an architectural landmark also in Minneapolis, is taking a cautious approach to loosening Covid protocols. But while masks and social distancing measures remain in place, there was an indoor Easter Vigil Saturday night, to be followed by a gospel procession to the middle of the sanctuary Sunday.

“The gift of being in the same physical space for the first time in three years is so grounding and beautiful,” said Miriam Samuelson-Roberts, the pastor. “We do not take it for granted.”

Peace Lutheran Church in Baldwin, Wisconsin, was holding Easter in the sanctuary again after spending 16 months hosting services, baptisms and funerals in the parking lot, surrounded by fields and dairy farms. But services continue to be broadcast via social media and local TV—that has been successful in attracting people from other communities.

“One thing I am certain is that should we have to restrict our gatherings—for any reason—we will certainly be drawing on our resources to ‘meet people where they are,’” said John Hanson, pastor.

In New York City, Middle Collegiate Church was gathering for its first in-person Easter service since 2019, only not in their historic Manhattan church, which was destroyed by fire two Decembers ago.

While they rebuild, they’re sharing space at East End Temple, where Rabbi Joshua Stanton will offer a prayer during the Easter celebration—at a time when the synagogue is observing its own holy days of Passover.

The Rev. Jacqui Lewis, Middle Collegiate’s senior minister, said everyone will have to be “vaxxed and masked,” and attendance in the 190-person temple is being capped at 150. Those leading the service, plus choir singers and musicians, took rapid Covid tests. Coffee hour will be outdoors, in the park across the street.

“We’ll miss it, but we will not hug for passing the peace. We’ll just bow to each other,” Lewis said. “We are watching numbers and will pivot as we need to stay safe.”

Just north of the city in Westchester County, Bedford Presbyterian Church also was keeping a close eye on local infection rates and following public health guidelines. The congregation will split into two in-person Easter services to allow for social distancing, the sanctuary’s windows will remain open and the church will use heavy-duty air purifiers.

“Ministers juggle a lot of concerns and expectations as we head into our third Easter with Covid looming,” said the Rev. Carol Howard Merritt, the senior pastor. “We know church wards off isolation and builds up community, so we try to figure out ways to worship in person and online.” Dell’Orto reported from St. Paul, Minnesota, and Henao reported from Pennsylvania.

Georgia man accused of leaving grandmother in freezer to die

A

RMUCHEE, Ga.—Police say a northwest Georgia man killed his grandmother by stuffing her in a freezer while she was still alive.

Floyd County Police discovered the body of Doris Cumming, 82, late Thursday in the Armuchee home she shared with her grandson, 29-year-old Robert Keith Tincher III. Tincher was charged with murder, aggravated battery and concealing the death of another. He remains jailed in Rome. It’s unclear if he has a lawyer who could comment on his behalf.

Police said Cumming’s family believed she had moved out of state, but grew concerned after not hearing from her and reported she might be missing.

Police said they believe that Cumming was injured in a fall in December and that instead of getting her medical attention, Tincher dragged her through home. Criminal charges say Tincher “heard and saw numerous bones break.” He then wrapped her in plastic bags and placed her in a large freezer, with the charges saying Tincher “acknowledged her back broke

going into the freezer.” Charges say there was “no altercation or provocation” leading up to the acts.

“From what we determined, at the time, he believed she was still breathing and had some movement at the time she was going into the freezer,” said Floyd County Investigator Brittany Werner told WAGA-TV. Tincher continued living in the home with the body inside the freezer for months, but moved it to a storage unit in March, fearing Cumming’s body might be found.

Werner said Tincher told police he didn’t call 911 because he was wanted for arrest because of terroristic threats made in 2018 against his wife.

Tincher also told investigators how much he loved his grandmother.

“He said she was the only family member that gave him the courtesy and love and attention he needed,” said Werner.

The Georgia Bureau of Investigation is conducting an autopsy to determine Cumming’s cause and time of death. AP

Monday, April 18, 2022 A9

Russia renews strikes on Ukraine’s big cities, bears down on Mariupol

K

By Adam Schreck & Mstyslav Chernov The Associated Press

YIV, Ukraine—Russian forces renewed missile strikes on Kyiv and intensified shelling of Kharkiv, Ukraine’s second-largest city, in an apparent strategy to hobble Ukraine’s defenses in preparation for what is expected to be a full-scale Russian assault in the east.

These attacks and others scattered across the country were an explosive reminder to Ukrainians and their Western supporters that the whole country remains under threat.

With the port city of Mariupol under siege, Ukrainian President Volodymyr Zelenskyy said Russia “is deliberately trying to destroy everyone who is there.” He said Ukraine needs more heavy weapons from the West immediately to have any chance of saving the city.

Each day brings new discoveries of civilian victims of an invasion that has shattered European security. In the towns and villages just outside Kyiv, authorities have reported finding the bodies of more than 900 civilians, most shot dead, since Russian troops retreated two weeks ago.

After the humiliating loss of the flagship of its Black Sea Fleet, Russia’s military command vowed to step up missile strikes on the capital. The Russians said they hit an armored vehicle plant on Saturday, a day after targeting a missile plant.

Kyiv Mayor Vitali Klitschko advised residents who fled the city earlier in the war not to return.

“We’re not ruling out further strikes on the capital,” he said.

“If you have the opportunity to stay a little bit longer in the cities where it’s safer, do it.”

The mayor said Saturday’s strike killed one person and wounded several. It was not immediately clear from the ground what was hit in the strike on Kyiv’s Darnytskyi district. The sprawling area on the southeastern edge of the capital contains a mixture of Soviet-style apartment blocks, newer shopping centers and big-box retail outlets, industrial areas and railyards.

Russian Defense Ministry spokesman Igor Konashenkov said an armored vehicle plant was targeted. He didn’t specify where the factory was located, but there is one in the Darnytskyi district.

He said the plant was among multiple Ukrainian military sites hit with “air-launched highprecision long-range weapons.”

T he Russian missiles hit the city just as residents were emerging for walks, foreign embassies planned to reopen and other tentative signs of the city’s prewar life started resurfacing, following the failure of Russian troops to capture Kyiv and their withdrawal.

Kyiv was one of many targets Saturday. The Ukrainian president’s office reported missile strikes and shelling over the past 24 hours in eight regions across the country.

The governor of the Lviv region in western Ukraine, which has been only sporadica l ly touched by the war’s violence, reported airstrikes on the region by Russian Su-35 aircraft that took off from neighboring Belarus.

In Kharkiv in the northeast, Mayor Ihor Terekhov said three people were killed and 34 wounded on Saturday. One explosion believed to have been caused by a missile sent rescue workers scrambling near an outdoor market. They said one person was killed and at least 18 wounded.

“All the windows, all the furniture, all destroyed. And the door, too,” recounted stunned resident Valentina Ulianova.

The day before, rockets hit a residential area of Kharkiv, killing a 15-year-old boy, an infant and at least eight other people, officials said.

Nate Mook, a member of the World Central Kitchen NGO run by celebrity chef José Andrés,

Injured civilians sit in an ambulance before being taken to a hospital after a Russian attack in Kharkiv, Ukraine on Saturday, April 16, 2022. AP Photo/Felipe Dana

said in a tweet that four workers in Kharkiv were wounded by a strike. Andrés tweeted that staff members were unnerved but safe.

Austrian Chancellor Karl Nehammer, who met with Vladimir Putin this past week in Moscow—the first European leader to do so since the invasion began Feb. 24—said the Russian president is “in his own war logic” on Ukraine.

In an interview on NBC’s “Meet the Press,” Nehammer said he thinks Putin believes he is winning the war and “we have to look in his eyes and we have to confront him with that, what we see in Ukraine.’’

Nehammer said he confronted Putin with what he saw during a visit to the Kyiv suburb of Bucha, where more than 350 bodies have been found along with evidence of killings and torture under Russian occupation, and “it was not a friendly conversation.”

Zelenskyy said in an interview with Ukrainian journalists that the continuing siege of Mariupol, which has come at a horrific cost to trapped and starving civilians, could scuttle attempts to negotiate an end to the war.

“The destruction of all our guys in Mariupol—what they are doing now—can put an end to any format of negotiations,” he said.

Later, in his nightly video address to the nation, Zelenskyy said Ukraine needs more support from the West to have a chance at saving Mariupol.

“Either our partners give Ukraine all of the necessary heavy weapons, the planes, and without exaggeration immediately, so we can reduce the pressure of the occupiers on Mariupol and break the blockade,” he said,

Unrest sparked by far-right demos continues in Sweden

H

ELSINK—Unrest broke out in southern Sweden late Saturday despite police moving a rally by an anti-Islam far-right group, which was planning to burn a Quran among other things, to a new location as a preventive measure.

Scuffles and unrest were reported in the southern town of Landskrona after a demonstration scheduled there by the Danish right-wing party Stram Kurs party was moved to the nearby city of Malmo, some 45 kilometers (27 miles) south.

Up to 100 mostly young people threw stones, set cars, tires and dustbins on fire, and put up a barrier fence that obstructed traffic, Swedish police said. The situation had calmed down in Landskrona by late Saturday but remains tense, police said, adding no injuries were reported in the action.

On Friday evening, violent

clashes between demonstrators and counter-protesters erupted in the central city of Orebro ahead of Stram Kurs’ plan to burn a Quran there, leaving 12 police officers injured and four police vehicles set on fire.

Video footage and photos from chaotic scenes in Orebro showed burning police cars and protesters throwing stones and other objects at police officers in riot gear.

Kim Hild, spokeswoman for police in southern Sweden, said earlier Saturday that police would not revoke permission for the Landskrona demonstration because the threshold for doing that is very high in Sweden, which values free speech.

The right of the protesters “to demonstrate and speak out weighs enormously, heavily and it takes an incredible amount for this to be ignored,” Hild told Swedish news agency TT. The demonstration took place

Saturday evening in a central park in Malmo where Stram Kurs’ leader Rasmus Paludan addressed a few dozen people.

A small number of counter-protesters threw stones at demonstrators and police was forced to use pepper spray to disperse them.

Paludan himself was reported to have been hit by a stone on his leg, Swedish media said. No serious injuries were reported, according to police.

Since Thursday, clashes have been reported also in Stockholm and in the cities of Linkoping and Norrkoping — all locations where Stram Kurs either planned or had demonstrations.

Paludan, a Danish lawyer who also holds Swedish citizenship, set up Stram Kurs, or “Hard Line” in 2017. The website of the party, which runs on an anti-immigration and anti-Islam agenda says, “Stram Kurs is the most patriotic political party in Denmark.” AP

“or we do so through negotiations, in which the role of our partners should be decisive.”

Konashenkov, the Russian Defense Ministry spokesman, said Saturday that Ukrainian forces had been driven out of most of the city and remained only in the huge Azovstal steel mill.

Russian Maj. Gen. Vladimir Frolov, whose troops have been among those besieging Mariupol, was buried Saturday in St. Petersburg after dying in battle, Gov. Alexander Beglov said.

Ukraine has said several Russian generals and dozens of other high-ranking officers have been killed in the war.

Capturing Mariupol would allow Russian forces in the south, which came up through the annexed Crimean Peninsula, to fully link up with troops in the Donbas region, Ukraine’s eastern industrial heartland.

Zelenskyy estimated that 2,500 to 3,000 Ukrainian troops have died in the war, and about 10,000 have been wounded. The office of Ukraine’s prosecutor general said Saturday that at least 200 children have been killed, and more than 360 wounded.

Russian forces also have taken captive some 700 Ukrainian troops and more than 1,000 civilians, Ukrainian Deputy Prime Minister Iryna Vereshchuk said Saturday. Ukraine holds about the same number of Russian troops as prisoners and intends to arrange a swap but is demanding the release of civilians “without any conditions,” she said.

Russia’s warning of stepped-up attacks on Kyiv came after it accused Ukraine on Thursday of wounding seven people and damaging about 100 residential buildings with airstrikes in Bryansk, a region bordering Ukraine.

Ukrainian officials have not confirmed hitting targets in Russia. Chernov reported from Kharkiv. Yesica Fisch in Kramatorsk, Ukraine, Robert Burns in Washington and Associated Press journalists around the world contributed to this report.

U.S. FDA investigating Lucky Charms after reports of illness

T

he US Food and Drug Administration is investigating Lucky Charms cereal after dozens of customers complained of illness after eating it.

The FDA said Saturday it has received more than 100 complaints related to Lucky Charms so far this year.

“The FDA takes seriously any reports of possible adulteration of a food that may also cause illnesses or injury,” the agency said in a statement.

Several hundred people have also posted on a food safety website, iwaspoisoned. com, complaining of nausea, diarrhea and vomiting after eating Lucky Charms.

General Mills Inc., the Minneapolisbased company that makes Lucky Charms, Cheerios and other cereals, said it’s aware of those reports and takes them seriously.

But the company said its own investigation has not found any evidence of consumer illness linked to Lucky Charms.

General Mills said it encourages consumers to share their concerns directly with the company. AP

A10 Monday, April 18, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

We aren’t Sri Lanka and won’t be

‘Y

ou have fallen into the commonest fallacy of all in dealing with social and economic subjects—the “devil theory.” You have attributed conditions to villainy that simply result from stupidity.”—Robert A. Heinlein, Logic of Empire, 1941.

We humans always want to find a scapegoat. There are a couple of reasons.

If we can find an external cause, then we do not have to take responsibility for the problem. “I can’t put this computer table together. The instructions were written by a moron.”

In 2020 and 2021 the great global goblin was China. The pandemic started in China. There were shipping problems from China. Inflation from the supply chain problems was caused by China. Even before 2020, the geopolitical situation was unstable because of China, and we know the debt problems of emerging economies in Asia and Africa are a result of the debt trap from China.

June 9, 2021: “The United States will target China with a new ‘strike force’ to combat unfair trade practices that the administration says are damaging US supply chains.”

Russia, however, owns 2022. President Joe Biden: “What people don’t know is that 70 percent of the increase in inflation was the consequence of Putin’s price hike because of the impact on oil prices.”

The second characteristic is that we tend to try to find a single cause for a variety of problems.

We all have known for many centuries that eating certain foods and in certain qualities can be unhealthy. Chapter 11 of Leviticus says not to eat shellfish, which was a good idea before modern health care since even today as much as 10 percent of a given population depending on ethnicity and location are allergic to it.

But that is not necessarily a reason for the thousands of books, such as Transform Your Health From the Inside Out, and articles like “20 Must-Read Books About Health and Food.”

Combine these two ideas—scapegoating and oversimplification—and we get conclusions such as all the social and economic problems of the Philippines are the result of “a corrupt government controlled by political dynasties.”

It seems as if any discussion of solutions to the social and economic difficulties in the Philippines must include the fact that they would not happen without “government and private sector corruption” augmented by “political dynasties.” It might be valid.

But then again, the Liberal Democratic Party ruled Japan for 40 consecutive years until 1993 and then for 10 of the past 16 administrations. The Kuomintang party controlled Taiwan from 1948 to 2016 less eight years. There is no stronger political dynasty than a political party.

From 1989 to 2009 there was either a Bush or a Clinton as US president and only because Hillary Clinton lost the Democratic primary to Barack Obama in 2008 and the General election to Donald Trump in 2016.

Sri Lanka is facing its worst political and economic crisis in more than 70 years. That country also has corruption and dynasties. So the disaster of 2022 is because of those two variables and of course there is a lesson to be learned by the Philippines, especially with the coming election.

Then again, Sri Lanka, half the size of Luzon with half the population, had a civil war from 1983 to 2009, killing 100,000. Perhaps some of today’s crisis is from that war. But maybe it’s China’s fault since 10 percent of Sri Lanka debt is with China. Except they have been running a large external debt-toGDP ratio since 2015 at 105 percent (115 percent now) versus the Philippines’ current 61 percent.

Our inflation is 4 percent; theirs is 18 percent. Philippine foreign currency reserves are $108 billion; Sri Lanka has $2.4 billion in reserves. Maybe the lesson that should be learned is by the Sri Lankans: Be more like the Philippines.

Possibly also, it is not evil corruption and dynasties that are the problem.

Maybe it is bad management caused in part by those two but unquantifiable as we as nowhere near a Sri Lankan disaster. Further, “Never attribute to malice that which can be adequately explained by stupidity”: Robert J. Hanlon.

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Climate change and its impact on our cultural heritage Atty. Jose Ferdinand M. Rojas II

RISING SUN

L

ast week, many Filipinos went on a Visita Iglesia as part of their observance of Holy Week. It was a welcome development to be able to go around again after two years of restrictions due to the pandemic. And so, many among the faithful took the opportunity to visit the seven churches on their itinerary.

In Metro Manila, some of the popular churches being included in the visitation are the Quiapo Church, Baclaran Church, Sta. Cruz Church, Manila Cathedral, San Agustin Church, Sto. Domingo Church, and Binondo Church. Of course, there are many other popular Metro Manila churches that people usually visit during Holy Week to fulfill their panata, or promise. It is not just being done as a form of devotion but also as a way to ask for divine favors like healing or guidance.

The Philippines is blessed with plenty of heritage churches scattered in different provinces. The oldest churches were built here in the 1600s, with San Agustin Church

being regarded as the most ancient among the lot. These churches stand as a symbol of our country’s colonial past. To say that they are beautiful is an understatement—their structure or architecture, ornate designs, and rich history are a source of national pride.

Many of them have been ravaged by time, wars, and destructive disasters; some of them have even crumbled to the ground, like the Loon church in Bohol that was completely destroyed when the 2013 earthquake happened in Central Visayas. It is our responsibility to become the caretakers of our historic churches, especially those classified by the National Historical Commis-

Because of climate change, our heritage sites are more exposed to natural calamities. There isn’t a moment to lose; preventive measures have to be considered and implemented at the soonest possible time. It would be wise to support organizations like ETFFI, which, incidentally, faces challenges in terms of funding.

To continue its programs—including training the youth and preserving not just historic structures but traditional building techniques—the private sector has to step in and help out.

sion as historic structures.

One way to look after these treasures is to restore them not just to preserve their charm and beauty, but also to increase their value and that of their surrounding areas and buildings. Restoration and conservation are, indeed, a form of investment for the sake of the community where the historic structure is built.

Aside from the National Commission for Culture and the Arts, the National Historical Commission of the Philippines, and the National Museum of the Philippines, the

Escuela Taller de Filipinas Foundation Inc. is doing its part to help the abovementioned government organizations to manage, preserve, and restore the nation’s cultural heritage.

Founded in 2009, ETFFI also trains out-of-school youth in skills related to heritage preservation to empower the marginalized Filipino youth and to benefit local communities.

Because of climate change, our heritage sites are more exposed to natural calamities. There isn’t a moment to lose; preventive measures have to be considered and implemented at the soonest possible time.

It would be wise to support organizations like ETFFI, which, incidentally, faces challenges in terms of funding.

To continue its programs—including training the youth and preserving not just historic structures but traditional building techniques—the private sector has to step in and help out.

ETFFI welcomes donations, CSR partnerships, and volunteers. The public can directly donate to Escuela Taller: through ESCUELA TALLER DE FILIPINAS FOUNDATION, INC. (account name), account number 200-7-200-52397-7 (Metrobank Intramuros). To know more about Escuela Taller de Filipinas, check out their web site , Facebook page, Twitter and Instagram accounts.

Canada wants to double home construction but needs to find workers

By Brian Platt | Bloomberg Opinion

C

anada’s housing minister has a daunting target in front of him as his government tries to rein in skyrocketing housing prices: doubling the pace of housing construction in the country within 10 years.

But Ahmed Hussen, who was appointed to the job after last year’s election, says Canada doesn’t have a choice if it wants to keep expanding its economy and attracting skilled immigrants.

“The issue of housing supply is critical to our future success as a country,” Hussen said in an interview with Bloomberg.

Canadian housing prices were already high before the pandemic before rising by more than 50 percent in the past two years. The price surge has become one of the top political issues in the country.

There’s significant debate about what’s driving it, with limited housing supply, a high level of immigration, investor activity and extremely low interest rates all cited as factors. But with younger families increasingly priced out of owning a home in most large cities, affordability has become a major problem for Prime Minister Justin Trudeau’s Liberal government.

His political rivals are turning

their attention to it. Pierre Poilievre, the front-runner in the leadership race for the opposition Conservative Party, posted a video on Twitter this week that slammed the cost of housing and blamed the Liberals’ spending record, as well as municipal government “gatekeepers.”

Boosting supply was the centerpiece of the housing plan laid out in the Trudeau government’s spring budget. It said Canada has averaged around 200,000 new housing units annually in recent years and pledged to “double our current rate of new construction over the next decade.”

The plan quickly prompted skepticism from analysts. “Dollars to doughnuts this won’t happen, and not for lack of good intentions,” Robert Kavcic, senior economist with the Bank of Montreal, wrote this week in a note to investors.

Kavcic pointed out that housing completions are already running at the highest level since the 1970s, skilled labor in the building indus-

Boosting supply was the centerpiece of the housing plan laid out in the Trudeau government’s spring budget. It said Canada has averaged around 200,000 new housing units annually in recent years and pledged to “double our current rate of new construction over the next decade.”

try is scarce, and municipal governments will fight any effort to zone for more density. Avery Shenfield, chief economist at CIBC World Markets, also doubted the feasibility of the plan given labor constraints.

“Without a targeted immigration plan, or a concerted effort to convince young residents to consider taking up a hammer rather than a laptop, we’re going to continue to struggle to ramp up supply enough to allow more Canadians to own their own castle,” he wrote Thursday.

Hussen said he knows this skepticism is out there, but argued his government has already shown it can deliver on ambitious programs. Last year the Liberals pledged to get every province to sign on to a universal child care program, and they got the final piece in place last month when Ontario agreed.

“Skepticism can be expressed, but the fact is we have shown a track record and an ability to build and collaborate with other orders of government,” he said. The biggest new housing measure in the budget is a C$4 billion ($3.2 billion) Housing Accelerator Fund that municipal governments can tap in exchange for taking measures to boost home supply.

Hussen said the details of how the fund will work were still being finalized, but it has two main objectives.

First, local governments applying for the money will need to create “road maps” on how to overcome obstacles preventing them from building more housing. Second, the money can be used to speed up project approvals by digitizing records or hiring more workers to handle permit and zoning requests.

‘Credible plan’

Hussen emphasized that this money won’t flow to a municipality simply based on its population.

“You have to demonstrate the political will to tackle those barriers,” Hussen said of municipalities. As examples, he pointed to zoning changes to allow for more density near transit stations and requiring affordable housing in new developments.

See “Canada,” A11

Opinion BusinessMirror

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Tax financing a bankrupt state

Changing midstream Siegfred Bueno Mison, Esq. Joel L. Tan-Torres

THE PATRIOT

he Bureau of Internal Revenue derives a significant amount of data from various sources. Taxpayers submit regularly to the BIR their tax returns, information returns, and various attachments thereto that contain financial and tax-related information.

here’s a certain folly for any person to continue a path of ruin in the guise of principled doggedness. In the Army, going on the offensive requires flexibility knowing that plans should be changed when battlefield conditions warrant. Ask any combat officer, retrograde operations are the most difficult maneuver to do, as it requires a seamless transition from offense to defense, at the same time, slowly moving backward, minimizing casualties and preserving troop morale. People often hear “no retreat no surrender,” but seldom understand the value of retrograde operations.

DEBIT CREDIT Sixth part

T

Third parties engaging with taxpayers are compelled to submit various reports to the BIR on their transactions with their clients and suppliers, including lists of purchases, sales, and withheld taxes. There are other entities that also provide taxpayer-related information to the BIR, including government agencies, external auditors, accredited tax practitioners, printers of receipts and invoices, dealers of cash registers and point of sales machines, service providers of computerized accounting systems, Philippine Council for NGO Certification and a host of others.

For the non-recurring or uncommon transactions with the BIR, taxpayers have to submit information pertaining to retirement funds, transfers of properties, tax amnesties, availing of tax exemptions, qualifying for tax and investment incentives, related party transactions, operations of excisable articles, etc. All of these bring in the BIR’s possession trigintillion (the largest imaginable number) amount of data available for processing. Data processed into information can bring so many advantages to the BIR in its decisionmaking process and implementation of key functions.

Picking up from last week’s article on the BIR audit of taxpayers, I advocate that this processed information, if actually done and done properly, can radically transform the tax investigation system. Data arising from the Googolplex (another description of the largest number) sources abounding in the BIR can be put into immediate utilization to increase the tax financing that the BIR can generate to support a bankrupt state. I have been focusing on this precarious state of the government in my ongoing series of articles.

Of course, the key to putting into productive use this voluminous data is tapping information and communication technology. The traditional term long in use for ICT was “computerization.” I was part of the then ambitious Five-year Tax Computerization Progam initiated by the BIR in August 1994. As then the Assistant Commissioner for Management and Planning, I was the project owner of the Management Information System tasked to formulate the applications for the executive decision making or what is commonly called now as Management Dashboard. Unfortunately, I had to leave the BIR to join the private sector and tax practice in 1996 and hence was not able to complete that MIS assignment.

At that time, one of my visions then on the MIS was the setting up of an automated selective audit pro-

Canada . . .

continued from A10

“If they’re not willing to do any of those, or even present a credible plan to tackle these barriers, then we simply will not engage,” Hussen said. “But I believe that all municipalities will welcome this,” he added.

The program has support from the Federation of Canadian Municipalities and the big city mayors’ caucus, Hussen said.

As for labor shortages, Hussen argued investments in skills training and immigration can help with this.

“Immigration is one of the tools to address the lack of adequate housing supply, because many skilled immi-

At that time, one of my visions then on the MIS was the setting up of an automated selective audit program. This program was supposed to come up with a risk-based and weighted scoring system to select the taxpayers to be audited by the BIR. Instead of relying on the discretionary judgment from the various BIR audit heads, this system would have relied on objective data-driven parameters culled from the various data sources of the BIR to select taxpayers who could be examined and could result in the maximum tax audit revenues. gram. This program was supposed to come up with a risk-based and weighted scoring system to select the taxpayers to be audited by the BIR. Instead of relying on the discretionary judgment from the various BIR audit heads, this system would have relied on objective data-driven parameters culled from the various data sources of the BIR to select taxpayers who could be examined and could result in the maximum tax audit revenues. Again, with this potential of increased tax collections, financing of the bankrupt state will be enhanced with this system in operation.

Furthermore, this application can mitigate if not eliminate the perennial issues and problems encountered in the BIR audit process. You can just imagine an audit environment where such irritants and anomalies, such as the “suki” system, the perennial selection of the same taxpayers, audit numbers beyond the absorptive capacity of the BIR offices, etc. are a thing of the past. Unfortunately, these continue to persist today without this measure being taken.

I just hope that the Digital Transformation Plan that the BIR initiated in 2019 will be able to address these much-needed changes in the tax audit process.

To be continued.

Joel L. Tan-Torres is the Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy, and partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979.

This column accepts articles from the business and academic community for consideration for publication. Articles not exceeding 600 words can be e-mailed to jltantorres@up.edu.ph.

grants are coming in through our smart immigration policies to help us build, literally help us build our country,” he said.

The budget promised other items to boost supply, such as tying federal infrastructure money to requirements around housing and putting another C$1.5 billion into a fund for affordable-housing projects.

Ultimately, Hussen said his government has limited tools to use for housing, since much of the power over housing belongs to provincial and municipal governments. “What we’re responsible for is to provide leadership to have a national approach, a national plan to tackle the affordable housing challenges faced

by Canadians,” he said.

T

In his invasion of Ukraine, Putin, for instance, appeared to be stubborn enough not to give up on taking the capital Kyiv until changing course and focus on taking on the lesser defended Eastern Ukraine, perhaps to save face. During World War II, Hitler was given a similar scenario when his Wehrmacht invaded Russia. Taking heavy losses owing to disease and poor weather, the German Army eventually retreated although over the objection of Hitler. Were it not for the defiance of some of Hitler’s generals, the German 6th Army could have been decimated down to the last man in Russia. In contrast, George Custer faced a similar situation but never changed course. His ego eventually allowed him and his union soldiers to be massacred at the Battle of Little Bighorn. The bigger question for military leaders to resolve is whether to change midstream—to keep on attacking or start withdrawing.

For the national elections, leaders and campaign strategists ponder whether to stick to the original plan towards victory. Others have considered changing course to adapt to circumstances dictated by events not anticipated by the most meticulous planners. In a recent press conference, Presidential candidates Senator Ping Lacson, Manila Mayor Francisco “Isko” Moreno Domagoso,

and Norberto Gonzales declared some kind of alignment of forces to unify a third force. Consistent cellar dwellers in surveys can easily decide to execute retrograde operations and save whatever campaign funds they have generated and fight another round, if need be. At the Presidential level, some local leaders and political supporters have decided to shift their “loyalties,” if ever you call it one, from one candidate to another. At first glance, these turncoats, branded as “balimbings,” are not given respect owing to their lack of word of honor. They are likely seen as traitors if not unprincipled. Of course, those who stick to one party or affiliation, through and through, are to be applauded for their consistency. I see value in their firm belief, unless bordering on fanaticism, since they simply live according to their values.

But I also admire people who are flexible and mature enough to do their own retrograde operations in their personal or professional lives. Such change, as long as influenced by the correct perspective and purpose, is just as laudable. Take the case of Tim Orbos who, after much discernment and analysis, decided to support another candidate with only 30 days left before Election Day. I hope others follow suit, with much candidness and heartfelt respect.

I was taught that perspectives

Monday, April 18, 2022 A11

For the national elections, leaders and campaign strategists ponder whether to stick to the original plan towards victory. Others have considered changing course to adapt to circumstances dictated by events not anticipated by the most meticulous planners. are influenced by what you see, read, hear, and experience. A large part of the changes midstream in my life was dictated by the people that our Almighty God sent my way.

Changing midstream is always good, if done for the good, based on one’s own perspective. My own story has been a life of changing midstream— resigning from the AFP to join the IBP, converting to being a Christian from being raised as a Catholic, and, most recently, switching support from Senator Ping to VP Leni.

As her campaign now focuses on house to house engagement, what her team needs to utilize must be more than just a convincing argument to make voters do the “switch and shift.” After all, a lot of information has circulated around all media platforms that have influenced if not solidified the mindset of many voters.

The lull time during the pandemic exacerbated this “mind conditioning” as many Filipinos were glued to online channels that affected their perspectives for or against certain candidates. Call them bloggers or influencers, they have maximized their free time either spreading truthful information or sheer lies, contributing to the polar divide among naive fanatics! Facebook doesn’t help since its algorithm feeds more disinformation to those unsuspecting “clickers” on their social media feeds.

In biblical history, a similar pattern can be observed. Pharisees prevailed in spreading their own version of “fake news” practically destroying the credibility of Jesus Christ. With His chosen disciples and a handful of followers at the onset, Jesus’s mission of converting the lost sheep was severely impaired by the establishment. Despite miracle after miracle,

Jesus wasn’t able to gain a significant breakthrough as the Jews even opted to crucify Him. It took a certain Jewish scholar, the most impactful “balimbing” of all time, to carry out the great commission of any believer —“Therefore go and make disciples of all nations, baptizing them in the name of the Father and of the Son and of the Holy Spirit,” (Matthew 28:19). I learned that the apostle Paul used to persecute Jesus followers and even stoned one to death. But, in one masterful stroke from God, Paul became the most influential “turncoat” bringing non-believers towards Jesus. Paul did not use the sword to intimidate, or money to influence others. Rather, he chose the convincing power of the pen coupled with prayers to convince generation after generation about being a Jesus follower.

In our lives, there can be opportunities that will behoove us to consider changing, for the good.

In these elections, for instance, it takes courage to be like Paul and change midstream out of fear of being branded “balimbing.” It takes greater courage to be like Paul and convince others to be a convert and support/vote a different candidate.

From my personal perspective, people don’t change people. Only God does, at His own pace. Our role as believers is to simply pave the way, in the most loving manner, for others to consider changing midstream. As Jesus used His parables and miracles and Paul used letters and epistles, we can make use of whatever gift we have to minister to others and let God do the rest.

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission.

For questions and comments, please e-mail me at sbmison@gmail.com.

US Army using lessons from Ukraine war to aid own training

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By Lolita C. Baldor | The Associated Press

ORT IRWIN, California—In the dusty California desert, US Army trainers are already using lessons learned from Russia’s war against Ukraine as they prepare soldiers for future fights against a major adversary such as Russia or China.

The role-players in this month’s exercise at the National Training Center speak Russian. The enemy force that controls the fictional town of Ujen is using a steady stream of social media posts to make false accusations against the American brigade preparing to attack.

In the coming weeks, the planned training scenario for the next brigade coming in will focus on how to battle an enemy willing to destroy a city with rocket and missile fire in order to conquer it.

If the images seem familiar, they are, playing out on televisions and websites worldwide right now as Russian forces pound Ukrainian cities with airstrikes, killing scores of civilians. The information war on social media has showcased impassioned nightly speeches by Ukraine’s president, Volodymyr Zelenskyy, as well as Russian efforts to accuse Ukraine’s forces of faking mass killings in towns such as Bucha—massacres that the West blames on Moscow’s troops.

“I think right now the whole Army is really looking at what’s happening in Ukraine and trying to learn lessons,” said Army Secretary Christine Wormuth. Those lessons, she said, range from Russia’s equipment and logistics troubles to communications and use of the Internet.

“The Russia-Ukraine experience is a very powerful illustration for our Army of how important the information domain is going to be,” said Wormuth, who spent two days at the training center in the Mojave Desert watching an Army brigade

wage war against the fictional “Denovian” forces.

“We’ve been talking about that for about five years. But really seeing it and seeing the way Zelenskyy has been incredibly powerful.... This is a world war that the actual world can see and watch in real time.”

At the center, the commander, Brig. Gen. Curt Taylor, and his staff have ripped pages out of the Russian playbook to ensure that US soldiers are ready to fight and win against a sophisticated near-peer enemy.

It’s a common tool. For example, his base and the Joint Readiness Training Center in Louisiana both shifted to counterinsurgency training during the Iraq and Afghanistan wars. And the military services have focused other training on how to fight in cold weather—mimicking conditions in Russia or North Korea.

But these latest changes have happened quickly in the early months after Russia invaded Ukraine.

About 4,500 soldiers from 2nd Brigade, 1st Cavalry Division, based at Fort Hood, Texas, are out in the vast desert training area at Fort Irwin, where they will spend two weeks fighting the NTC’s resident 11th Armored Cavalry Regiment, which acts as the enemy military.

Soldiers from the regiment—known as Blackhorse—are arrayed in and around Ujen, which also includes role-players acting as the locals.

As the sun was rising earlier this past week, Army Col. Ian Palmer, the brigade commander, stood on Crash Hill, on the outskirts of the town, preparing his soldiers to launch an

At the center, the commander, Brig. Gen. Curt Taylor, and his staff have ripped pages out of the Russian playbook to ensure that US soldiers are ready to fight and win against a sophisticated nearpeer enemy.

attack. Lines of tanks spread out in the distance. Heavy winds the night before hampered his progress, so the attack was a bit behind.

He said the exercise is using more drones by the friendly and enemy forces, both for surveillance and attacks. So his forces are trying to use camouflage and tuck into the terrain to stay out of sight. “You know if you can be seen, you can be shot, where ever you are,” he said.

Down in the makeshift town, the opposition forces are confident they can hold off Palmer’s brigade despite the size difference. The Denovians only have about 1,350 forces, but they are throwing everything they have at the brigade, from jamming and other electronic warfare to insurgency attacks and propaganda.

The role-players have their phones ready to film and post quickly to social media.

The Denovian forces want to portray the unit in the worst possible light, said Taylor, and constantly twist the narrative on social media so Palmer’s troops realize they are in a battle for the truth.

That’s a challenge, he said, because “when I’ve got a bunch of casualties and I’m getting overrun on my left flank and my supply trains aren’t where they need to be and I can’t find the bulldozers, it’s hard to think about something that someone said about me on Twitter.”

The training goal, said Taylor, is teaching the brigades that come in how to fuse all elements of their combat power into a coordinated assault.

“Everyone can play an instrument, but it’s about making music—bringing it all together in a synchronized fashion. And what you saw today was the artillery was doing the artillery thing, the aviation was doing the aviation thing and the maneuver guys were doing the maneuver thing. But part of the delay in their assault on the town was they couldn’t synchronize those three,” he said.

Again, they can look to Ukraine to see how Russia failed to do that in the early weeks of the war. US leaders repeatedly noted that in Russia’s initial multipronged assault in Ukraine, commanders consistently failed to provide the airstrikes and support their ground troops needed to move into key cities such as Kyiv.

That failure led to Russian troops bombing the cities from the outskirts, hitting hospitals, apartment buildings and other structures, and killing civilians.

So when the next brigade arrives as the training center, Taylor said it will face an enemy on board with doing just that.

“We will be very focused on how to fight against an adversary that is willing to destroy infrastructure because that’s how we think our adversaries will fight,” Taylor said. “We’ve got to be prepared for urban combat where we have an adversary that is indiscriminately firing artillery.”

Wormuth, the Army secretary, said seeing the training also underscored other lessons the US is taking from the war in Ukraine.

“As we’re watching what’s happening to the Russians now, it’s informative for us to think about what is right, from a modernization standpoint,” she said, noting that some US tanks are very heavy and the terrain in Europe is muddier, not like the hard-packed sand of the desert.

A12 Monday, April 18, 2022

4 bets to stay in prexy race, Isko tells Leni to withdraw

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By Jovee Marie N. dela Cruz

@joveemarie

HREE weeks before the May 9 national and local elections, four presidential candidates on Sunday said they are staying in the race amid constant speculation they will withdraw and rally behind Vice President Leni Robredo, who is a far second in most major surveys. Two of them instead urged Robredo to make the “supreme sacrifice” and withdraw from the presidential race.

In a joint press conference at the Manila Peninsula hotel, presidential candidate and Manila Mayor Isko Moreno said Robredo should withdraw her candidacy because she only ran to prevent Ferdinand Marcos Jr. and his family from returning to Malacañan Palace.

“Kung meron mang supreme sacrifice, ‘yung number 2 [in the survey] should do and start. Let Leni withdraw. Withdraw, Leni, if you love your country. Their [Robredo’s camp] fight is just against Marcos.

It’s always about the Marcos.... Time

to move on,” Moreno said.

Marcos continues to enjoy a commanding lead in the pre-election surveys followed by Robredo at a distant second trailing by 32 percentage points, then Moreno, Sen. Manny Pacquiao and Sen. Ping Lacson.

If Filipinos want “peace of mind,” Moreno said people should now consider other presidential candidates as their alternative.

“Senator Ping, he ran to offer his skills. Secretary Norberto [Gonzales], Manny Pacquiao...we are offering solutions,” he added.

“I’m calling for Leni to withdraw.

Come and join us. Because whatever she’s doing against Marcos is not effective,” Moreno added. He and former Defense Secretary Norberto Gonzales urged Robredo to withdraw, but Lacson did not make a similar call.

In the same conference, Gonzales also noted the sizeable margin between Marcos and Vice President Leni Robredo in recent preelections surveys.

“Ayaw ng taumbayan ang number two [Robredo] na lumaban sa number one [Marcos]. Hanap tayo ng bagong Number 2. Dapat ang tinitignan ng ating survey, hindi lang yung sino iboboto mo. Sensing the sentiment of the people is another indicator of where they will be going come election day,” he said.

“But the reason is not because we’re anti-Leni. It’s because we have been asked to withdraw by the Vice President. Nagkataon lang na siya.

Kung si BBM [Marcos] ang nagsabi mag-withdraw kami then we will be on the same sentiment as it is today,” said Gonzales.

For his part, Lacson reminded the public that there are other options for the presidency aside from Marcos and Robredo.

“They are limiting the choices to 2 candidates. Nakakahon na

lang and that’s the reason why we have to do this. That among 111 million Filipinos or so, hindi lang dalawa ‘yung pagpipilian. Actually, meron pang ibang tumatakbo,” he said.

Lacson said people who don’t want to support Marcos and Robredo can choose him, Moreno, Pacquiao, Gonzales and other candidates.

However, Lacson clarified that their joint press conference is not an “anti-Leni press conference,” while adding that they don’t want either Marcos or Robredo to win.

“We are offering ourselves. We’re not campaigning for Marcos. We don’t want Marcos to win because of destabilization,” said Lacson. He explained later that he was concerned by an alleged threat by some Robredo supporters that if Marcos wins, there will be chaos.

Lacson, meanwhile, disclosed that former Quezon City Mayor Brigido Simon Jr. approached him and asked him to withdraw for Robredo and Senate President Vicente “Tito” Sotto III ticket. “[Simon] told me they can ask Kiko Pangilinan to withdraw to give way to the tandem of Vice President Robredo and my running mate,” he said.

‘CYBERCRIME TO KEEP THRIVING WITH VETO OF SIM CARD BILL’

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ITHOUT the SIM Card registration law, Filipinos will continue to experience fraud, scams, threats, unwanted messages, cybercrimes, and terrorism, a deputy speaker warned at the weekend, even as he blamed a last-minute insertion of a provision on social media for scuttling the badly-needed measure via a Palace veto.

Deputy Speaker for Trade Wes Gatchalian made the statement after President Duterte vetoed the proposed legislation, which aims to deter electronic communication-aided crimes.

“I agree with the decision of the President even if I am the principal author and a staunch advocate since the 16th Congress. Unfortunately, the last-minute insertion of Sen. [Franklin] Drilon to include the registration of social media providers is totally not in line with the essence of this bill. There is nothing in the bill specifying how to register such a broad environment [internet],” said Gatchalian.

“Though equally important, that provision should have been studied further and filed as a separate bill,” he added.

The Palace said Duterte opted to veto the bill as the proposal included social media,

“which was not part of the original version of the bill.” It said Duterte hopes lawmakers still be able to come out with a better version of the bill, which will be “consistent with the demands of the Constitution.”

“Out of the 152.4 million mobile subscribers in the country today, only 3 percent of which are registered postpaid users, meaning 97 percent or over 147 million mobile subscribers utilize unregistered prepaid numbers. This untraceable platform opens up greater prospects for small-time opportunists and organized criminal syndicates to create fake names and hide behind the anonymity that a prepaid mobile number can give, to become brazen in defrauding our citizens with their hard-earned money. There is obviously a flaw in the system that we can remedy by this legislation,” Gatchalian said.

PHL among outliers

WITH a very high penetration rate of mobile usage, the Valenzuela lawmaker is surprised that the Philippines is among the remaining 20 percent of countries in the world without a mandatory SIM card registration law.

See “Cybercrime,” A2

Continued on A5

PHL justifies imports sanitary permits

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE Philippines stood pat on its sanitary and phytosanitary import clearance (SPSIC) regime, arguing that its mechanisms are risk-based and grounded on pertinent international guidelines, allowing the country to efficiently respond to emergency cases such as disease outbreaks.

In its latest communication to the World Trade Organization (WTO) Committee on Import Licensing (CIL), the Philippines explained its current SPSIC regime in response to concerns and questions raised by the United States in previous meetings of the committee.

The Philippines justified that it adopted a “one SPSIC, one shipment” policy as it is “administratively manageable” to verify compliance of importers with SPS requirements. It is also efficient

in allowing the government to respond to emergency cases “such as outbreaks of transboundary animal diseases or plant pests in the country of origin.”

The Philippines also argued that the validity period it has set for SPSICs is based on “risk involved.”

“High-risk commodities, such as those categorized as level 3 and 4 under ISPM 32, are imposed with shorter duration validity period,” it said in its communication dated April 7.

Last year, the United States asked the Philippines if the latter would consider a single SPSIC issuance for multiple shipments as well as the basis for limiting the validity periods for SPSICs of specific commodities.

The Philippines also responded to the United States’s query regarding the purpose of requiring utilization and good standing certificates for imported meat products.

“On the purpose of requiring the utilization and good standing certificates, this is to guarantee that the Office International des Epizooties [OIE] guidelines in deactivating foot-and-mouth disease [FMD] virus are properly complied with,” Manila explained.

“This requirement is specific to the importation of meat intended for re-export and Indian Buffalo Meat [IBM] for processing in order to protect the country from the entry and spread of FMD virus and maintain its FMD-free status,” it added.

New, additional questions

IN a separate communication to the WTO-CIL last Month, the US raised additional questions regarding the Philippines’ SPSIC regime, saying that it remained “concerned” that the latter’s system could be used to “restrict the flow of trade.”

Continued on A5

GATHERING Businessman Noel Onate recently hosted dinner for friends in business and the social circuit, including BusinessMirror Chairman D. Edgard A. Cabangon. From left (standing), Earl Villaroso, Brenda Ngo, Ruby Chua, Georgette Wilson, Aida Cobankiat. Seated (from left), Sharon Tan, Cabangon, host Onate and Tiffany Cuna. CONTRIBUTED PHOTO

Companies

Editor: Jennifer A. Ng

Monday, April 18, 2022

B1

Easing of Covid curbs boosts power sales in Q1–Meralco

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By Lenie Lectura

@llectura

he Manila Electric Co. (Meralco) may have registered an increase of close to 6 percent in energy sales in the first three months of the year compared to the same quarter a year ago, as demand improved due to the easing of restrictions.

“Indicative numbers we have (show) close to 6 percent quarter growth compared to same period last year,” said Meralco Chief Commercial Officer Ferdinand Geluz.

He said electricity demand of Meralco’s residential, commercial, and industrial customers—which reached 7.4 million as of end-2021— grew because of “strong energization performance, recovery of commercial segment with easing of mobility

and occupancy restrictions, steady growth of industrial segment with easing of mobility after the Omircron surge, back to office or hybrid set up for most segments, and warmer temperature”.

Meralco is set to announce the final figures on April 25 during the release of its first quarter financial performance.

At end-2021, Meralco’s energy sales volumes rose by 6 percent to

46,073 GWh (gigawatt hours) from 43,572 GWh in 2020.

Energy sales volumes from Meralco and Clark Electric Distribution Corp. rose by 6 percent and 10 percent, respectively.

The improvement was driven by sustained residential consumption, ramp-up in commercial volumes amid more relaxed quarantine restrictions, and strong industrial rebound within the franchise areas.

In terms of the sales mix, residential sales accounted for 37 percent, while commercial and industrial sales accounted for 33 percent and 30 percent, respectively.

In January, Geluz said Meralco’s consolidated sales volume grew to 3,506GWh, which was “actually 2 percent better than 2021”.

For February, Geluz said then “all indications lead to an increase of 6 percent at least for Meralco. So, we estimate Meralco volume to be more than 3,700 GWh and plus north of 3,700 GWh if we include Clark. That’s (a) 6-6.5 percent increase.”

The company announced last week that power rates for April will go up to P10.1830 per kilowatt hour (kWh) from P9.6467 per kWh last month.

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 and the Wholesale Electricity Spot Market.

“This month’s generation charge increase would have been significantly higher, but Meralco coordinated with the Energy Regulatory Commission 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.

Power auction gets DOE nod T

HE Department of Energy (DOE) has given the Manila Electric Co. the green light to proceed with the second round of competitive bidding for the 850megawatt renewable energy (RE) mid-merit (MW) and 180MW of baseload power supply requirements.

Meralco will proceed to conduct the competitive selection process (CSP) for the 850MW power supply deal, starting with a pre-bid conference on April 25, followed by the deadline of submission of expression of interest on May 18, and the bid submission deadline and opening of bids on May 25.

Interested bidders who will challenge the unsolicited proposal of Terra Solar Philippines, Inc. must post a bid security amounting to P2.5 billion and secure the bid documents for P4.25 million.

Last April 5, Meralco declared the CSP for the 850MW a failure after the Third-Party Bids and Awards Committee (TPBAC) did not receive any bid offer that would have challenged the unsolicited proposal of Terra Solar, the special purpose vehicle of Razon-led Prime Infrastructure Capital Inc. and Solar Philippines Power Project Holdings Inc. led by Leandro Leviste.

Terra Solar offered P6.0800 per kilowatt-hour (kWh) for headline rate and levelized cost of electricity.

It proposed to supply Meralco 600 MW to be made available by February 26, 2026; while the additional 250 MW is expected to be delivered starting February 26, 2027.

It will source power from its planned solar power plants with energy storage system in Batangas-Cavite, Bulacan, Nueva Ecija, Tarlac, and Zambales. These plants

CEB resumes Cebu, Davao hub flights

By Lorenz S. Marasigan @lorenzmarasigan

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udget carrier Cebu Pacific (CEB) said on Sunday it is ramping up its domestic route with the resumption of direct flights from its hubs in Cebu and Davao.

Xander Lao, Chief Commercial Officer at Cebu Pacific, said this month, the carrier resumes direct flights to four destinations from Cebu, namely: Calbayog, Surigao, Puerto Princesa, and Legazpi. It also resumes four direct flights from Davao, namely: Bohol, Iloilo, Zamboanga, and Cagayan de Oro. “We are happy to keep enabling everyJuan to safely fly across our largest Philippine network. Cebu and Davao are very important for us as they serve as our main hubs in the Vis-Min area. We know that now is the perfect time for us to resume these direct flights while we see an increase in overall passenger confidence,” he said.

The carrier also increased the frequencies of its other flights

from Cebu to Manila, Davao, Iloilo, Zamboanga, Coron, Boracay, Cagayan de Oro, Bacolod, Clark, General Santos, Siargao, Tacloban, Dumaguete, Pagadian, Butuan, Ozamis, Camiguin, and Dipolog.

Lao said the increased operations are “in line with the airline’s commitment to ensure it provides affordable and accessible flights for everyJuan across its widest domestic network.”

“We are positive that this expansion in routes and frequencies would further enable Cebuanos and Dabawenyos alike to fly to their favorite destinations in the country—whether to visit family and friends, or go on muchneeded vacations over the summer season.”

Cebu Pacific aims to restore 100 percent of its pre-pandemic domestic capacity this month.

The Gokongwei-led airline has a fleet of 22 A320ceo, six A320neo, seven A321ceo, 10 A321neo, six A330ceo, two A330neo, 14 ATR 72-600, six ATR 72-500 and two ATR Freighters.

are under development.

According to the TPBAC, there were no comparative bids received even if two interested bidders initially expressed interest to participate in the bidding. These are SMC Global Light and Power (SGLP) and SunAsia Energy Inc. SGLP wrote and notified the TPBAC that it would no longer participate in the 850MW CSP. SunAsia, meanwhile, did not submit a bid but instead submitted and read a “Notice of Non-Submission of Bid”.

SunAsia had already manifested its interest to participate in the next round of CSP. Also, Meralco secured the goahead of the DOE to conduct a second CSP for the 180MW power supply deal, which was intended to augment available supply during the summer months and to cover for the output of plants that are

affected by Malampaya facility’s continued inability to supply adequate natural gas fuel.

Under the approved TOR, Meralco proposed that the required contract period runs from May 26 to July 25 this year, and maybe extended for up to five months, upon mutual agreement by the parties.

The minimum offered capacity per bidder is at least 50MW. The first competitive auction last March 31 was declared a failure because there was no expression of interest received by the TPBAC. For the second round, the deadline for the submission of expression of interest is set on April 27.

A pre-bid conference is scheduled on May 4, while May 23 is the bid submission deadline and opening of bids.

Interested bidders must pay a bid security of P3.75 million. Lenie Lectura

Firms with most number of women in board bag award T he Securities and Exchange Commission (SEC) has cited three publicly listed companies that have the most number of female directors in its board.

In its 2022 Gender and Development Awards, the regulator cited BHI Holdings Inc., National Reinsurance Corp. of the Philippines, and Monde Nissin Corp.

The said award was part of the agency’s call for corporations to ensure gender diversity in their boardroom.

“Year 2022 is an opportunity for the Philippine corporate sector to revitalize its leadership roles through gender diversity,” SEC Chairman Emilio B. Aquino said in his opening remarks for the event.

“This recognition marks not only the corporate governance breakthrough achieved by PLCs [publicly listed companies] today, but the ardent hope that these gender and development achievements will continue in the years to come. The SEC is confident that this event will inspire PLCs to continue their initiatives despite the difficulties and

complications brought about by the pandemic.”

The awardees were listed firms that were in good standing and found to have the most number of woman directors in their board, based on their disclosures to the SEC and the public for the covered year 2021.

Ensuring female representation in the boardroom is in line with the recommendation that the boards of corporations should be as diverse as possible, gender-wise, among other good corporate governance practices, the agency said.

“The awards given by the commission should neither be construed as its express or implied endorsement of the awarded companies nor a guarantee that the awarded companies are high performing, profitable or compliant with all applicable regulations,” the SEC said.

“The awards shall be without prejudice to any penalty that may be imposed at a later time on the awarded companies if found to be in violation of the rules and regulations issued by the commission.” VG Cabuag

B2

Companies BusinessMirror

Monday, April 18, 2022

Logistics solutions provider sets sights on VisMin SMEs

G

By Lorenz S. Marasigan

@lorenzmarasigan

lobe Telecom Inc.’s portfolio business Brad, an ondemand logistics solutions provider, plans to expand its presence beyond Metro Manila and go nationwide this year.

Brad General Manager Richie Santos said the group has started covering “Metro Manila and nearby provinces” last quarter, and is gearing up to expand “to the rest of Luzon and then to Visayas and Mindanao in the second half of 2022.”

“What we want to highlight for Brad is convenience. We’re focusing our efforts on expanding the channels we have right now to

serve the SMEs [small and medium enteprises], especially homegrown businesses and communities, given the limited options for on-demand logistics solutions in the provinces,” Santos said.

Brad offers a range of logistical services that are tailored for businesses from various industries, such as health and wellness, food and beverage, e-commerce, and telecommunications. It also looks into the

education, medical, pharmaceutical, and hospitality sectors.

Santos said Brad also plans to expand its customer base by targeting SMEs, as the country continues to ramp up digital transformation initiatives, including the development of e-commerce.

Currently, Brad has more than 30 merchants in its portfolio and over 150 riders based in different localities. Santos said the group expects to “grow the number significantly with its ongoing expansion.”

Brad is part of the Asticom Group, a subsidiary of Globe.

In February, Globe announced that it has allocated a budget of P89 billion for its capital expenditure (capex) program this year.

The amount–just 4 percent lower than the P92.8-billion capex spend in 2021, an all time high for Globe– will be used to build more cell sites, upgrade existing ones, deploy 4G and 5G radios, and add more fiber lines across the country, according

to a Globe disclosure on Wednesday.

Last year, Globe aggressively expanded its fixed line and wireless networks, building 1,407 new cell sites, upgraded over 22,300 mobile sites, installed more than 2,000 5G radios, and installed 1.4 million fiber-to-the-home lines.

Aside from announcing its capital outlays program for 2022, Globe also reported that it netted P23.7 billion in profits last year, a 27-percent increase from P18.6 billion the year prior, thanks to the upside impact of the Corporate Recovery and Tax Incentives for Enterprises Act as well as the gain from the P4.3 billion deemed sale of investment in subsidiary Mynt.

Its core net income stood at P21.2 billion, which is 9 percent higher than the year prior, fueled by the 4-percent increase in net income to P151.5 billion, but this was partially offset by the effects of Typhoon Odette to its total operating expenses of P76.6 billion.

STOCK-MARKET OUTLOOK Last week

Share prices continued to decline last week, with the main index staying at the 6,900-point level on lackluster trading, as most investors were already in a holiday mood due to the Holy Week activities.

The benchmark Philippine Stock Exchange index was down 33.12 points to close at 6,984.90 points during the three-day trading week.

The main index was down for the first two days but bargain hunters prevailed on Wednesday, ahead of the long break.

Average trading value came in at P6.89 billion, with foreigners accounting for 43 percent of the total trades but they were still net sellers at P1.25 billion.

With the exception of the Holding Firms index that gained a mere 2 points to close at 6,570.64 points, all other sub-indices closed lower.

The broader All Shares index shed 12.87 to 3,726.58, the Financials index lost 16.23 to 1,653.45, the Industrial index declined 33.28 to 9,633.81, the Property index retreated 46.57 to 3,221.44, the Services index was down 5.21 to 1,927.11 and the Mining and Oil index fell 212.57 to 12,217.61.

For the week, losers led gainers 118 to 78 and 40 shares were unchanged.

Top gainers were Ferronoux Holdings Inc., Emperador Inc., Vivant Corp., Asiabest Group International Inc., Roxas Holdings Inc. and Central Azucarera de Tarlac Inc. Top losers were Citystate Savings Bank Inc., Concrete Aggregates Corp.

B shares, EEI Corp., PXP Energy Corp., Manila Mining Corp. A and Oriental Petroleum and Minerals Corp. A.

This week

Trading may remain volatile this week, but investors are keen on picking up cheap stocks due to the two straight weeks of decline but the main index is seen to stay close to the 7,000-point level as macroeconomic concerns linger.

“Higher cost of debt, further volatility of the peso and oil, and supply chain impact of China’s centers shutting down for a brief period in the first quarter pose macro downside risks that can bring the average earnings per share expectations for the first quarter to single digits,” broker 2TradeAsia said.

It advised investors to range trade as the market attempts to find better footing near the 7,000-point level.

“Note that we are a month away from what is dubbed to be the most polarizing national elections in history, a possible 50 basis points rate hike from the United States Federal Reserve and the full blast of the first quarter earnings report,” it said.

Meanwhile, Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said the rising yields in the US in light of high inflation and hawkish monetary policy expectations could lead to sustained foreign fund outflows which would negatively affect the local bourse this week.

“Our country’s inflation is also expected to remain as a weighing concern amid the elevated oil, energy, and other commodity prices. Next week, investors may also take cues from our OFW remittance and balance of payments data,” he said.

He said the main index is seen to test the 7,000 to 7,100-point range.

“If it is unable to regain its position at the said range, then this would already serve as its resistance while its next support is seen at 6,600,” he said.

Stock picks

Broker Regina Capital Development Corp. advised to hold on to the stocks of Ayala Corp. as the company seems to be overcome with selling pressure at the moment but is still far from the oversold region.

“At this point, there could very well be a retest of the support at P750 per share. Nonetheless, chances of this level breaking are slim considering we’re not seeing strong bearish momentum or volatility, for that matter.

Indicators, while slightly skewed to the downside, are supportive of sustained sideways movement at this relatively lower range,” it said.

The broker said it is likely that Ayala’s stocks will continue trading between P750 to P770 within the next few days.

Shares of Ayala Corp. closed last week at P768 apiece.

Meanwhile, it advised to position on the stock of International Container Terminal Services Inc. (ICT) as the company is one of the most stable heavyweights that have yet to break down amid increasingly bearish market sentiment.

“Throughout the past three months, it has managed to maintain a relatively stable range between P210 to P240. This stable spread looks like an attractive enough chance for range-playing, in our view,” the broker said, adding that its indicators show sustained sideways movement.

“What we’d like to point out about ICT is that for roughly half a year, its 50-day moving average has served as a good entry point. That level has, since November 2021, been a solid support trend line. Every time ICT hit below these levels the past few months, a rebound immediately followed after a few trading sessions,” it said.

ICTSI shares closed last week at P220.40 apiece. VG Cabuag

www.businessmirror.com.ph

Raslag wants to build solar farm in Bataan

P

ampanga-based solar power provider Raslag Corp. is expanding its presence in Bataan and Zambales for its future renewable energy (RE) projects.

Raslag founder and chairman Peter Nepomuceno said discussions are currently underway for the acquisition of a property for its next solar power project.

“We have expansion plans outside Pampanga. We are negotiating for a property in Hermosa, Bataan. We’re looking at other properties in Bataan, in Zambales. Initially, Bataan. We’re negotiating to purchase a 30-hectare property there. There are other areas we are looking into,” he said.

Location, he said, is vital in ensuring the success of a solar power venture.

“You see, in getting land for solar, not just plain land – it has to be land that has access to NGCP [National Grid Corporation of the Philippines] facilities so that you can connect to the NGCP facility. If you’re too far from the NGCP facilities or is not available, the land you bought cannot be used for solar,” said Nepomuceno.

Apart from solar, Raslag may also venture into battery energy storage systems. “We are studying batteries.

We’re looking into that.”

Raslag currently has two solar power plants in Mexico, Pampanga.

These are the 10.046-MWp (megawatt peak) Raslag-1 and the 13.141 MWp Raslag-2. Both are running under the Feed-in-Tariff system of the Department of Energy with a

base tariff of P9.68/kWh and P8.69/ kWh, respectively.

On May 2, the 18.011 MWp Raslag-3 in Mabalacat and Magalang, Pampanga will commence operation.

“When Raslag-3 operates, it will add income to the company, and that will bring up earnings per share.

When Raslag-4 operates, it will increase the ROI [return on investment],” Nepomuceno said.

The company has commenced work for the development of the 35.2-MWp Raslag-4 solar plant and has acquired the site for the 60 MWp Raslag-5 solar plant, both in Pampanga.

Raslag-4 is estimated to cost P1.5 billion and is targeted to commence construction in the second quarter of 2023, with completion eyed in March 2024.

For Raslag-5, which is estimated to cost P2.1 billion, construction is expected to commence in the second quarter of 2024, with completion and commercial commissioning in March 2025.

The company has set on June 6 its P700-million initial public offering (IPO). Raslag plans to sell 350 million common shares at P2 apiece. Nepomuceno said that if the overallotment is sold, the public float would be 26 percent. Proceeds from the IPO will be used to pay for the balance of land acquisition for Raslag-4 and its construction, pegged at P30.4 million and P330 million, respectively. Lenie Lectura

mutual funds

April 13, 2022

NAV

One Year Three Year

Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

221.99

6.04%

-5.74%

-3.43%

ATRAM Alpha Opportunity Fund, Inc. -a

1.501

16.82%

-2.75%

0.73%

-9.81%

7.32%

-9.37%

-6.01%

-5.05%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0744

-4.76%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7414 0.19%

-7.96% n.a.

-2%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6834 0.74%

-7.76% n.a.

-11.35%

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

4.985

First Metro Save and Learn Philippine Index Fund, Inc. -a MBG Equity Investment Fund, Inc. -a PAMI Equity Index Fund, Inc. -a

9% 0.7426

-3.42%

-1.13%

-3.81%

12.12%

-5.58%

-4.56%

-12.43% n.a.

-9.32%

85.63

-12.73%

45.4569

5.83%

-4.63%

-2.08%

-5.55% -4.81%

Philam Strategic Growth Fund, Inc. -a

476.59

5.84%

-4.45%

-2.18%

Philequity Dividend Yield Fund, Inc. -a

1.3402

22.46%

0.53%

1.15%

-1.19%

Philequity Fund, Inc. -a

35.0822

9.13%

-3.45%

-0.7%

-4.13%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9012

8.01%

-4.74% n.a.

-4.27%

Philequity PSE Index Fund Inc. -a

4.7156

7.21%

-3.85%

-1.37%

-4.94%

Philippine Stock Index Fund Corp. -a

783.23

6.46%

-4.01%

-1.46%

-5.46%

Soldivo Strategic Growth Fund, Inc. -a

0.7118

7.41%

-8.59%

-4.2%

-5.42%

7.19%

-6.35%

-2.63%

-5.49%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5684 Sun Life Prosperity Philippine Stock Index Fund, Inc. -a

0.8922

6.13%

-4.31%

-1.72%

United Fund, Inc. -a

6.63%

-4.14%

-0.41%

-4.26%

3.291

-5.2%

-5.54%

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

1.1431

Philippine Stock Index Fund Corp. -a

955.82 n.a. n.a. n.a. n.a.

12.5% n.a. n.a.

-1.69%

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

105.6765

7.04%

-3.74%

-1.02%

-5.2%

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

$0.9972

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6592

-21.36%

-1.6%

1.4%

-11.48%

-4.56%

8.86%

8.62%

-10.14%

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

1.6126

-0.95%

-2.27%

-1.63%

ATRAM Philippine Balanced Fund, Inc. -a

2.1986

2.07%

-1.8%

-1.11%

-3.63%

4.93%

-0.44%

0.57%

-2.69%

First Metro Save and Learn Balanced Fund Inc. -a 2.6186

-4.69%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.204

8.68% n.a. n.a.

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

1.9602

3.23%

0.67%

0.94%

-2.8% -3.76%

PAMI Horizon Fund, Inc. -a

3.6237

2.03%

-0.57%

-0.29%

Philam Fund, Inc. -a

16.2371

1.96%

-0.8%

-0.36%

-3.61%

Solidaritas Fund, Inc. -a

2.0603

3.38%

-1.4%

-0.54%

-2.88%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5066 3.73%

-3.18%

-1.02%

-3.85%

Sun Life Prosperity Dynamic Fund, Inc. -a

-2.41%

-0.59%

-4.06%

0.9155

9.71%

-2.39%

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

0.9406

-1.45%

-2.07% n.a.

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.8904

2.58%

-3.88% n.a.

-4.97% -5.73%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.8792

3.12%

-4.23% n.a.

-5.86%

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

$0.03491

-8.03%

-0.98%

-0.29%

-7.99%

$0.9948

-12.58%

-0.37%

1.2%

-6.78%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.3554 -5.94%

5.54%

5.89%

-9.3%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0935 -7.28%

1.41%

2.15%

-8.77%

PAMI Asia Balanced Fund, Inc. -b

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

373.73

1.01%

2.45%

2.41%

ATRAM Corporate Bond Fund, Inc. -a

1.8863

-1.25%

0.08%

0.09%

0.08%

3.24

0.66%

2.45%

3.6%

-0.12%

2.211

Cocolife Fixed Income Fund, Inc. -a Ekklesia Mutual Fund Inc. -a

-0.15%

-1.56%

0.83%

1.12%

-1.8%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4167 -0.46%

2.32%

1.83%

-0.38%

Philam Bond Fund, Inc. -a

4.2974

-3.37%

2.23%

1.14%

-2.23%

Philam Managed Income Fund, Inc. -a

1.3163

0%

3.28%

2.78%

-0.21%

Philequity Peso Bond Fund, Inc. -a

3.9274

-0.72%

2.95%

2.45%

-0.97%

Soldivo Bond Fund, Inc. -a

1.0133

-1.33%

3.35%

1.85%

-1.45%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1632

-0.29%

3.17%

3.04%

-0.76%

Sun Life Prosperity GS Fund, Inc. -a

-0.95%

2.38%

2.34%

-0.91%

1.7148

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

$483.54

0.22%

2.13%

2.07%

ALFM Euro Bond Fund, Inc. -a

Є215.25

-2%

-0.12%

0.41%

-2.16%

ATRAM Total Return Dollar Bond Fund, Inc. -b

$1.1018

-6.32%

-1.87%

-0.27%

-8.48%

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

$0.9362

-10.88%

-4.15%

-2.6%

-8.47%

Philam Dollar Bond Fund, Inc. -a

$2.2925

-7.22%

0.55%

0.84%

-8.51%

$0.0611316

-2.3%

1.71%

1.43%

-1.86%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.853 -8.79%

-1.41%

-0.64%

-10.74%

Philequity Dollar Income Fund Inc. -a

-1.23%

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

131.59

1.28%

2.47%

2.53%

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

1.061

1.03%

1.74% n.a.

1.52%

2.33%

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

1.3213

2.5%

0.3% 0.31%

0.43%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0623

0.64%

1.26% n.a.

0.16%

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

45.6477 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3152

7.56% n.a. n.a.

-4.9%

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

$0.9067

-8.41% 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.

-6.53%

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

Banking&Finance

‘Tax clarity’ seen a tool for smoother collection

By Jovee Marie N. dela Cruz @joveemarie

T

O ensure that private schools and hospitals “would not suffer from tax uncertainty,” the chairman of the House Committee on Ways and Means urged the Bureau of Internal Revenue (BIR) to clarify the definition of “unrelated activities” under its revenue regulations.

House Ways and Means Chairman Joey Sarte Salceda said in a statement that his office issued over the weekend that clarifying what unrelated trade, business or other activity would help ensure that schools and hospitals toe the line.

“Tax clarity is the clear next step after that law,” Salceda said.

He further said he will work with the BIR and the private schools on the matter.

“I particularly want to know what business activities of these schools was counted as unrelated in the past; and I want to know what the gray areas are so that we can figure them out with the tax authorities,” Salceda said.

The lawmaker added the country has “to take these steps so that we can prevent conflict and litigation.”

“The faster and smoother tax collection is, with little dispute between taxpayers and tax authorities, the better for economic recovery,” Salceda added.

Malacañang signed the law that reinforces the 10-percent preferential income tax rate to proprietary private educational institutions, including for-profit schools—overturning an earlier BIR order that raises private schools’ corporate income tax rate to 25 percent.

President Rodrigo Duterte signed Republic Act 11635, also known as “An Act Amending Section (B) of the National Internal Revenue Code of 1997, As Amended and For Other Purposes,” clarifying a contested portion on revenue regulation under the Corporate Recovery and Tax Incentives for Enterprises (Create) Act. Under the Create Act (RA 11534), “proprietary educational institutions and hospitals which are nonprofit” must pay 10 percent of their taxable

income, which has been brought down to 1 percent until June 2023.

But under Revenue Regulation 3-2022, issued by the tax bureau, consistent with the tax code’s provisions, the regular corporate income tax rate of 25 percent “shall be imposed on the entire taxable income of the institutions…if their gross income from unrelated trade, business or other activity… exceeds 50 percent of the total gross income they derived from all sources.”

“I think it’s better if we prevent confusion by clarifying what that means and providing examples of those activities. For example, is selling a PE (Physical Education) shirt for related PE-classes unrelated business activities? What about varsity merchandise?

What about revenues from sponsorships for their school teams? I think we have to be clearer so they know what to avoid,” he said.

“Citing specific cases that the BIR would consider unrelated is a good way to prevent litigation and tax uncertainty. It would also prevent arbitrary actions on the part of BIR agents,” Salceda explained. “Generally, the clearer the test for ‘unrelated activities’ the better.”

According to the lawmaker, he will work with the bureau again to make sure that the definition “is consistent with prudent tax policy as well as the experience of private schools and hospitals.”

Salceda is the principal author of RA 11635, which clarified the tax regime for proprietary schools and hospitals.

Private schools touted the measure as a way to provide relief to these educational institutions and help keep tuition fees lower.

“We should consider an omnibus compendium of what constitutes related and unrelated business activities for hospitals and schools. That would make the work of tax practitioners, tax assessors, and other parties involved in the tax collection process easier,” Salceda said. “Tax conflict always arises out of tax uncertainty. The result is always bad for everyone concerned.

The people don’t get taxes on time. The parties pay for litigation costs. And tax still has to be paid anyway.”

BusinessMirror

Editor: Dennis D. Estopace • Monday, April 18, 2022

Small town lottery operations lift PCSO revenues to ₧43.37B

S

By Bernadette D. Nicolas

@BNicolasBM

MALL Town Lottery (STL) operations lifted gross revenues of the Philippine Charity Sweepstakes Office (PCSO) last year for a total of P43.37 billion, which is merely P2.9-billion short of its target.

In its year-end report, the PCSO said its gross revenues jumped by 133 percent last year from P18.58 billion in 2020, marking its recovery after government suspended gaming operations following the onset of the Covid-19 pandemic.

However, the agency failed to hit

its full-year gross revenue goal of P46.36 billion by 6.45 percent.

Of all the PCSO games, the agency collected half of its revenues for the year from STL at P21.55 billion, more than triple the amount earned from the mass-based local lottery in 2020.

“STL has the highest earnings in

By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

D

FIN LIT DRIVE

This April 16, 2022, photo courtesy of the Bangko Sentral ng Pilipinas shows BSP Governor Benjamin E. Diokno during the recent Integrated Provident Fund Operations Network Conference. According to Diokno, the BSP’s two-pronged approach for the education sector involves first, embedding financial literacy concepts in the basic education curriculum, and second, integrating personal financial management in the regular training of teaching and non-teaching personnel of the Department of Education. As part of the first approach, Diokno commended the DepEd’s “Financial Education Policy,” which integrates financial education in the K-to-12 curriculum. To support the second approach, IPON was launched to promote financial learning among DepEd workers, teachers and parents. CREDIT: Bangko Sentral ng Pilipinas

U

This undated photo courtesy of LandBank of the Philippines shows its Pangasinan Corporate Center located along MacArthur Highway in Barangay Nancayasan, Urdaneta City.

2022. They were joined by Pangasinan Provincial Treasurer Marilou E. Utanes, Asingan Mayor Carlos F. Lopez, Jr., LandBank Executive Vice Presidents Julio D. Climaco Jr. and Alex A. Lorayes, and Senior Vice Presidents Ma. Celeste A. Burgos, Randolph L. Montesa, Ma. Belma T. Turla and Filipina B. Monje.

“The inauguration of the LandBank Pangasinan Corporate Center, at the heart of Urdaneta City, underscores our commitment to support the ongoing recovery and sustained economic growth of Pangasinan. This serves as a one-stop shop, offering a wide array of services to our customers and devel-

opment partners including LGUs, government agencies, MSMEs, farmers and fishers, and rural banks,” Borromeo was quoted in a statement as saying.

Meanwhile, Parayno was appreciative of LandBank’s continuous support to the City Government of Urdaneta.

Other LandBank field offices are also stationed in the LandBank Pangasinan Corporate Center, such as the North Luzon Branches Group, Pangasinan Accounting Center II, Agrarian Operations Center IIISatellite Office, Property Valuation and Credit Information Department–Pangasinan Field Team, Area Legal Unit I, Field Legal Services I, and the Loan Operations Field UnitPangasinan Field Team.

As of end-March, LandBank has a total of 18 branches and branch-lite units, one lending center and 88 automated teller machines across Pangasinan, delivering a wide array of banking services for Pangasinenses, as part of LandBank’s thrust of serving the nation.

US bond market gives notice it’s no longer a one-way street

T

RADERS of US government debt were dealt a stern reminder last week not to sleep on a market that’s been headed in one direction for a long time.

Yields had risen to the highest levels in years in anticipation of more Federal Reserve interest-rate hikes and the central bank beginning to shed Treasury notes and bonds from its balance sheet by not replacing them when they mature.

For most of the first quarter, short-dated yields paced the move. While the tune had begun to change this month, with long-dated yields leading the latest move higher, a violent mid-week dive in shortdated yields left traders wondering if they

were looking at a new trend or just a bout of gains-harvesting on the old one. The reversal was accompanied by a plethora of large trades in related futures contracts, consistent with locking in profits.

Fundamental catalyst

A smaller-than-expected increase in March consumer prices excluding food and energy, reported Tuesday, provided a fundamental catalyst for wagers that the Fed may wind up raising rates less than currently expected as inflation cools, allowing short-dated yields to fall. But there’s no consensus on the inflation outlook, or prospect of one in sight. Economic data is sparse next week.

2021 compared to 2020, having a 278-percent increase from the previous year. This is attributed to the increasing number of authorized agent corporations (AACs) operating STL from 59 AACs in 2020 to 82 AACs in 2021,” according to the PCSO report.

Next to STL, the second biggest revenue earner for PCSO is lotto wherein it collected P12.75 billion, an 87-percent jump from P6.82 billion in 2020 as fewer lockdowns were imposed.

This was followed by digit games (P7.8 billion), instant sweepstakes (P954.36 million) and Keno (P306.6 million). “Peryahan” games remain suspended since February 2020.

Nonetheless, the agency extended P2.4 billion for its charity assistance and medical assistance programs to over 287,000 individuals and over 2,600 local government units (LGUs),

institutions and hospitals.

As part of its mandatory contributions, the PCSO allocated P1.64 billion to the Universal Health Care (UHC) program. Under the law, the agency is mandated to appropriate 40 percent of its charity fund to the UHC program.

Apart from this, the state-run firm also turned over P1 billion in additional dividends to the Department of Finance through the Bureau of the Treasury. It also paid a total of P12.42 billion in taxes during the period.

The agency also disbursed P251 million as part of its mandatory contributions to other government institutions and released P202.1 million as lotto shares to various LGUs and P117.89 million as STL shares to the National Bureau of Investigation, the Philippine National Police and LGUs.

Shari-shari seen to entice more Pinoys to stock market

LandBank opens corporate center in Urdaneta RDANETA CITY, Pangasinan—The Land Bank of the Philippines (LandBank) officially inaugurated a 3-story corporate center along MacArthur Highway in Barangay Nancayasan, Urdaneta City, to serve as a one-stop shop for the banking and financing needs of Pangasinenses.

The LandBank Pangasinan Corporate Center houses the LandBank Urdaneta Branch, which services customers from the combined 136 barangays of Urdaneta City and the municipalities of Villasis, Asingan, Manaoag and Pozorrubio.

This is complemented by the LandBank Pangasinan Lending Center, which provides financing for agricultural production, working capital, and acquisition of equipment, among others.

Urdaneta City Mayor Julio F. Parayno III, Pozorrubio Mayor Emma Zosima T. Chan and LandBank President and CEO Cecilia C. Borromeo led the inauguration rites for the LandBank Pangasinan Corporate Center on April 8,

B3

“It’s an awkward period at the moment for the bond market,” said Gregory Faranello, head of US rates trading and strategy for AmeriVet Securities. “Inflation is at extreme levels and we just don’t know what level it declines to from the peak.” Here’s how it shook out: The twoyear note’s yield—more sensitive than longer-dated yields to changes in the Fed’s policy rate—fell to as low as 2.27 percent on Thursday from this year’s peak of 2.60 percent on April 6. It ended the week around 2.45 percent after a sharp rebound on Thursday, when a gauge of import prices rose more than economists expected. US markets were closed Friday.

The swoon in 2-year yields represented

some dialing back of expectations for how much the Fed might raise rates this year, even as a half-point increase at the next meeting in May is nearly fully priced in to corresponding futures contracts.

‘Reasonable option’

NEW York Fed President John Williams on Thursday said that was “a reasonable option” because rates remain low. The March quarter-point increase to 0.25 percent-0.5 percent was the first since 2018. Williams also said the underlying inflation trend will soon peak. Fed Chair Jerome Powell is slated to take part in an IMF event next week on Thursday.

Bloomberg News

AVAO CITY—A Filipino financial technology (fintech) company has tapped the traditional concept and values of a sarisari store to encourage Filipinos to take another look at investing in the stock market.

May Antoniette Yamson-Ajero cofounded the financial technology company called Shari-Shari Ltd. to become the first Filipino fintech company to provide access to the US stock market through its platform. Its Internet website the name combines “share” and “sari-sari store.”

“This is a start-up inspired by our neighborhood sundry store. Sari-sari stores are integral to our culture as they are our go-to shop for convenience and affordability, whether to satisfy cravings for favorite snacks or provide basic, daily and emergency needs,” Ajero told the BusinessMirror from her current home base in New Zealand, where she put up the company. “The sari-sari stores allow us access to products we can buy in small units, or colloquially ‘tingi.’”

She said the “tingi” concept of affordability may sit well with persuading the especially first time, but hesitant Filipino investor.

“Contrary to barriers for first timers are not always financial or economic but often are psychological,” Ajero said. Many Filipinos have disposable income that may be used for investing but have misconceptions about investing in shares market, like “investing in stocks is only for rich people” or “Investing in stocks is like gambling.”

Ajero said there is a general lack of information on how to or where to start, she added.

In Shari-Shari, the company would tap into the “sari-sari store” psyche to assure them that retail investors like them could buy fractional shares for as little as $1 in US stocks and exchange traded funds (ETFs) with a market capitalization of at least $1 billion.

“We provide Filipinos access to invest in over 2,500 companies and ETFs listed in the US shares market. We are your gateway to the US shares market,” she said. ETFs are entities of stocks and bonds linked to certain trends in stocks indexes.

She said Shari-Shari partnered with a duly-licensed US registered broker dealer and developed a platform that provides Filipinos the access and opportunity to start investing in the US stocks market.

In recent years, she said, “fueled with advances in technology, retail investing in the stock market has been growing in popularity around the world and Philippines is well-placed for this growing trend.”

“With Shari-Shari and in partnership with a duly licensed US registered broker dealer, Filipinos can now own full or fractional shares of funds and of global brands they regularly use

and love,” according to May Ajero, one of five all-Filipino founders of ShariShari. “We want to give seasoned investors the opportunity to diversify their investments and we want to contribute to seeing new and young investors get started with investing.”

It should not be scary for Filipinos to try investing the US stocks, saying that “Filipinos have long been regular consumers of global brands from cars to technology, to fashion and entertainment, as well as health and food products.”

“Philippines has also consistently been in top ranks for heavy internet usage in the region and even globally.

With the pandemic, Philippines was pushed to embrace digital transformation quickly with businesses bringing their products online and tech-savvy Filipinos adopting digital payments almost instantly,” she said.

Ajero said first time Filipino investors are usually attracted to opportunities to invest in global companies and brands that they love and already regularly use. “They invest for different reasons. For existing Philippine Stocks Exchange investors, it is an opportunity to diversify their portfolio.”

For wealth builders, she added, “it is a new avenue for investing in addition to property, insurances, or term deposits and savings in banks.”

“No matter what their investing experience, Shari-Shari is designed with the goal to make investing as simple as transacting in an online store,” she said.

The company’s website said investors do not need to open a dollar account to start. Shari-Shari has partnered with Unionbank for its unified payments platform called “Upay” and has registered as an Operator of Payment System with the Bangko Sentral ng Pilipinas so customers can fund their brokerage accounts with Philippine pesos via UnionBank online, e-wallets and online transfers from other local banks. There is no need to open a dollar bank account.

All brokerage services in ShariShari are provided by its partner US broker-dealer, who is a member of the Washington, D.C.-headquartered Financial Industry Regulatory Authority, a private American corporation that acts as a self-regulatory organization and the Securities Investor Protection Corp., a federally-mandated, non-profit, member-funded, US corporation created under the Securities Investor Protection Act of 1970 that mandates membership of most US-registered broker-dealers.

Shari-Shari platform would allow Filipinos access to set-up, fund, select and communicate buy and/or sell trade orders to its partner US broker dealer who would implement the trading, Ajero said.

The company was set up early this year and “since going live in March, we now have around 2,500 sign-ups,” she said.

Explainer BusinessMirror

B4 Monday, April 18, 2022

www.businessmirror.com.ph

What is Musk really doing as he guns for Twitter?

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By The Associated Press

and even trying to game out this hy pothetical might be taking the man too seriously. By saying Twitter is not living up to its potential to be a “platform for free speech,” he seems to be saying he would scale back content moderation. But he has also called for the company to crack down on spam accounts, which implies more moderation.

He proposed dropping ads from the service—ads are how Twitter makes money—and making its San Francisco headquarters into a homeless shelter. He also seems to approve of a button to edit tweets.

ERCURIAL billionaire Elon Musk now says he wants to buy Twitter outright, taking it private to restore its commitment to what he terms “free speech.” But his offer, which seemed to fall flat with investors on Thursday, raises as many questions as it answers.

Why is Musk interested in Twitter?

Ostensibly because the service, he says, isn't living up to its potential as a “platform for free speech.”

Musk insists that he’s not interested in making money off Twitter and on Thursday said his motivation sprang from the realization that “having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization.”

Twitter, like other social-media platforms, suspends accounts for violating content standards, including on violence, hate speech or harmful misinformation. Its suspension of Donald Trump angered the former president’s followers.

Musk has described himself as a “free speech absolutist”—but he has blocked Twitter users who question or disagree with him.

Regulators have also accused his car company, Tesla, of retaliating against Black workers who spoke up about discrimination.

Has Musk said where he will get the funds to buy Twitter?

No. And his regulatory filing says the offer is subject to “completion of anticipated financing.”

During a Thursday on-stage interview at the TED 2022 conference, Musk noted vaguely that

What concerns does Musk as an owner of Twitter raise?

he has “sufficient assets” to complete the deal, adding: “I can do it if possible.”

Can he just buy Twitter outright from his personal wealth?

Musk is the world’s wealthiest man, according to Forbes, with a nearly $265-billion fortune. But much of his money is tied up in Tesla stock—he owns about 17% of the company, according to FactSet, which is valued at more than $1 trillion—and SpaceX, his privately held space company. It’s unclear how much cash Musk has.

“I do think this will be somewhat painful and I’m not sure that I will actually be able to acquire it,” Musk said in his Thursday interview.

Musk could sell Tesla stock to raise money—which could hurt Tesla’s share price—or borrow against his stock holdings. But Forbes notes that he has already used more than half of his Tesla stake as loan collateral.

Elon Musk, founder, CEO and chief engineer/designer of SpaceX, speaks during a news conference after a Falcon 9 SpaceX rocket test flight at the Kennedy Space Center in Cape Canaveral, Florida, January 19, 2020. AP/John Raoux

brett jordan | pexels.com

Among them: Is he serious?

Can he get the money together?

Would a sale make shareholders happy? And what would the social platform look like if he succeeds?

Would Twitter shareholders be happy with his offer?

The stock traded lower than the offer price of $54.20 a share Thursday, suggesting investors doubt the deal will go through.

The shares have traded above $70 in the past 12 months and peaked at $80.75 in February 2021.

There has been executive turnover since co-founder Jack Dorsey’s departure in November left Twitter with a new CEO, Parag

Agrawal, whose initial actions have involved internal reorganizations. There have not been any major changes to Twitter, which, despite its outsized influence due to high-profile celebrity and politician posters, as well as a devoted base of journalists, has fewer us-

ers than social-media rivals like Facebook and TikTok. Musk himself is a huge user, with more than 81 million followers.

Dorsey, still a major shareholder, has not indicated what he thinks of Musk’s offer.

Twitter said only that it will

look at the offer. A spokesperson declined to answer if the board will put in place a defense against a hostile takeover known as a “poison pill.”

How might Musk remake Twitter?

It’s hard to know with Musk,

Social-media companies struggle to contain misinformation and hate speech. Musk, whose tweets can lead online bullies to swarm his critics online, does not seem keen on content moderation.

“Regulators worldwide will be w i nc i ng at t he potent i a l free speech implications should Musk ’s takeover bid succeed,” said GlobalData analyst Rachel Foster-Jones. “Musk is clearly serious about promoting free speech for the benefit of democracy, but the line between free speech and hate speech or misinformation is becoming increasingly muddied, and attempts to change Twitter could easily lead to these issues spiraling out of control.”

In his talk with Anderson, Musk said that Twitter is “bound by the laws of the country it operates in, so obviously there are some limitations on free speech in the US and of course Twitter would have to abide by those rules.” But he said it was “quite dangerous” to have “tweets be mysteriously promoted and demoted” and having a “black-box algorithm.”

What happens next?

Twitter may hire bankers and advisers to help it review the deal, said Third Bridge technology, media and telecom analyst Scott Kessler. And other buyers could emerge. “It seems that if wouldbe strategic and/or financial buyers are interested in Twitter, they should probably engage now.”

What Twitter’s ‘poison pill’ is supposed to do T

witter is trying to thwart billionaire Elon Musk's takeover attempt with a “poison pill”—a financial device that companies have been wielding against unwelcome suitors for decades.

What are poison pills supposed to do?

The ingredients of each poison pill vary, but they’re all designed to give corporate boards an option to flood the market with so much newly created stock that a takeover becomes prohibitively expensive. The strategy was popularized back in the 1980s when publicly held companies were being stalked by corporate raiders such as Carl Icahn—now more frequently described as “activist investors.”

Twitter didn’t disclose the details of its poison pill Friday, but said it would provide more information in a forthcoming filing with the Securities and Exchange Commission, which the company de-

layed because public markets were closed Friday.

The San Francisco company's plan will be triggered if a shareholder accumulates a stake of 15 percent or more. Musk, best known as CEO of electric car maker Tesla, currently holds a roughly 9-percent stake.

Can a poison pill be a negotiating ploy?

Although they are supposed to help prevent an unsolicited takeover, poison pills also often open the door to further negotiations that can force a bidder to sweeten the deal. If a higher price makes sense to the board, a poison pill can simply be cast aside along with the acrimony it provoked, clearing the way for a sale to be completed.

True to form, Twitter left its door open by emphasizing that its poison pill won't prevent its board from “engaging with parties or accepting an acquisition proposal” at

a higher price.

Adopting a poison pill also frequently results in lawsuits alleging that a corporate board and management team is using the tactic to keep their jobs against the best interests of shareholders. These complaints are sometimes filed by shareholders who think a takeover offer is fair and want to cash out at that price or by the bidder vying to make the purchase.

tanic in scale.”

Musk has publicly said that its $43-billion bid is his best and final offer for Twitter, but other corporate suitors have made similar statements before ultimately upping the ante. With an estimated fortune of $265 billion, Musk would seem to have deep enough pockets to raise his offer, although he is still working out how to finance the proposed purchase.

How did Elon Musk react to Twitter’s announcement?

How has this defense worked in the past?

Musk, a prolific tweeter with 82 million followers on Twitter, had no immediate reaction to the company’s poison pill. But on Thursday he indicated he was ready to wage a legal battle.

“If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty,” Musk tweeted. “The liability they would thereby assume would be ti-

Takeover tussles often dissolve into gamesmanship that include poison pills and other maneuvers designed to make a buyout more difficult. That’s what happened in one of the biggest and most drawn out takeover dances in Silicon Valley history.

After business software maker Oracle made an unsolicited $5.1-billion offer for its smaller rival PeopleSoft in June 2003, the

two companies spent the next 18 months fighting with each other.

As part of its defense, PeopleSoft not only adopted a poison pill that authorized the board to flood the market with more shares, it also created what it called a “customer assurance program.” That plan promised to pay customers five times the cost of their software licenses if PeopleSoft was sold within the next two years, creating an estimated liability of up to $800 million for an acquiring company.

PeopleSoft also got another helping hand when the US Department of Justice filed an antitrust lawsuit seeking to block a takeover, although a judge ruled in Oracle’s favor.

Even though the company ended up selling to Oracle, PeopleSoft’s defense strategy paid off for its shareholders. Oracle's final purchase price was $11.1 billion—more than twice its original bid. AP

Style

BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Monday, April 18, 2022

Miss Universe Philippines 2022: The 10 standouts

PHOTO BY JULIANA MAXINE VASQUEZ

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HOEVER wins Miss Universe Philippines 2022 will be crowned in the presence of pageant royalty. Miss Universe titleholders Pia Wurtzbach (2015), Iris Mittenaere (2016) and Demi-Leigh Tebow (2017) will be hosting the coronation night. Catriona Gray (2018) was sent an invitation to attend while the reigning queen, Harnaaz Sandhu of India, will be a special guest. I hope the organization will also invite Gloria Diaz (1969) and Margarita Moran (1973).

The third coronation night of the local Miss Universe search will be held on April 30 at the Mall of Asia Arena in Bay City, Pasay City. Cebu City’s Beatrice Luigi Gomez, who finished at the Top 5 at Miss Universe 2021, will crown her successor.

The beautiful Belgian-Boholana Pauline Amelinckx, 26, enjoys an advantage over her rivals, as she placed third runner-up in Miss Universe Philippines 2020. Davao del Sur’s gorgeous Jedidah Korinihona, 25, born in the Solomon Islands, was Top 30 last year. Cebu Province’s stunning Lou Dominique Piczon, cracked the Top 16, and was named Best in National Costume and Best in Runway in 2020.

Experience in national pageantry also gives any phenomenal woman an edge. Aklan’s Jona Sweett, 26, was Top 10 at Miss World Philippines 2017, Miss Paraw Regatta 2015, and Miss Philippines Earth EcoTourism 2015. Baguio’s Ghenesis Latugat, 22, was Miss Cordillera Queen of Festivals 2016 and Miss Baguio 2021. Quezon Province’s Gracelle Nicole Distura, 22, was Binibining Bondoc Peninsula 2020 and fourth runner-up at Mutyang Quezon Turismo 2017.

My homegirl, Misamis Oriental’s Annabelle Mae McDonnell, 21, is the reigning Miss Kuyamis. Born in the United Kingdom but grew up in Iligan City, she was Miss Lanao del Norte 2019, Miss Iligan 2018, and 2019 Miss Millennial second runner-up. Lanky and awkward on the runway at the start of her pageant career, she was trained by a top Cagayan de Oro runway coach and blossomed to win the Frontrow Catwalk Queen this year.

Two women of international bearing and upbringing are making waves. Albay’s articulate Julia Eugénie Augustias Saubier, 27, a Binibining Pilipinas Miss Universe 2019 candidate, was born in Lyon, France. She graduated magna cum laude from New York University Abu Dhabi, took her Master’s Degree in Yenching Academy of Peking, and went to the Identity School of Acting in London.

Cebu City’s captivating Chantal Elise Legaspi Schmidt, 20, holds a Bilingual International

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Why Japanese and Korean sunscreens reign supreme

UNIQUELY BEAUTIFUL Pasay’s Silvia Celeste Cortesi, Cebu City’s Chantal Elise Legaspi Schmidt, Bohol’s Pauline Amelinckx, Taguig’s Maria Katrina Llegado, Quezon Province’s Gracelle Nicole Distura, Makati’s Michelle Daniela Marquez Dee, Baguio’s Ghenesis Latugat, Aklan’s Jona Sweett, Misamis Oriental’s Annabelle Mae McDonnell, and Albay’s Julia Eugénie Augustias Saubier. MISS UNIVERSE PHILIPPINES FACEBOOK

Baccalaureate Diploma in German and English from the Cebu International School, and is currently taking up online classes for her law studies at a German university.

Three former national titleholders who had remarkable international campaigns are in strong contention. Pasay’s Silvia Celeste Cortesi, 24, was Miss Earth Philippines 2018 and placed Top 8 at the

global finals. Taguig’s Maria Katrina Llegado, 24, was Reina Hispanoamericana Filipinas 2019.

And Makati’s Michelle Daniela Marquez Dee, 26, was Miss World Philippines 2019 and Top 12 at the world finals. That Dee is the daughter of the legendary Melanie Marquez makes her the “Girl to Beat” at this year’s most prestigious beauty pageant. It doesn’t mean, though, that she’s unbeatable. n

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The season of fun beckons WHETHER you are planning a summer trip to the beach, having a staycation, or simply spending summertime in the city, all roads lead to favorite lifestyle hub Kultura for fashion that is stylish, fun and, yes, uniquely Filipino.

Add a touch of the exotic and the elegant to your summer wardrobe with cool caftans and tunics as well as pretty summer dresses. There are also ethnic-inspired sarongs and ruffle skirts worn with halter tops that make stylish

statements. Accessorize with Kultura’s statement bracelets and neck pieces to complete the look. There are also beautifully textured unique handmade totes and hats perfect for fun in the sun and beyond.

For men, there are linen tops and tropical print shirts that will keep them cool and casual during sizzling summer days.

It’s poised to be a stylish summer at Kultura (www. kulturafilipino.com), which ships here and abroad.

❶ HALTER top with pearl straps worn with a floral sarong and a wide brimmed hat.

❷ COOL and casual tropical print shirt. ❸ SUMMERIZE with a tropical printed tunic, handwoven buri tote and wide brimmed hat.

B5

IN 2021, I had a eureka moment about sunscreens.

I realized that the best ones for me were those from Japan and Korea because they did not make my eyes tear. Even at home, I still use sunscreen because in 2020, right before the lockdown, I went on a trip to Europe where it was winter and I (mistakenly) thought I only needed to apply sunscreen once a day.

Guess what? I am still dealing with the dark spots that resulted from that mistake.

Anyway, back to the matter at hand. One of the reasons why I love Japanese and Korean sunscreens is because they use the latest and most cutting-edge technology. The textures are better than Western sunscreens because in the US, sunscreen formulations are subject to stringent standards as sunscreens are under the over-the-counter drugs category. So, for now, there are a lot of ingredients that are not allowed to be used in sunscreen formulations.

In Japan and Korea, sunscreens are under the cosmetics-grade products category so they are more innovative in terms of perfecting how the products can be worn on an everyday basis, unlike Western sunscreens which are formulated to help prevent skin cancer. Another thing I love about Japanese and Korean sunscreens is that they’re mostly water- and sweat-proof. Anessa, for instance, has the Aqua Booster EX Technology in three of its sunscreens and this technology boosts the product’s protection when it comes into contact with sweat and water.

So here are some of my favorite Japanese and Korean sunscreens: The Anessa Moisture UV Sunscreen Mild Gel SPF 50 PA+++ for sensitive skin (light blue tube) is so mild it can be used on babies and toddlers. I love the texture of this and while I only use this at home and during rainy days, it works perfectly with makeup. It doesn’t pill or create a weird texture. For me, however, the best thing about this sunscreen is that it doesn’t make my eyes tear when I sweat.

There is another version of the Anessa sunscreen for sensitive skin. The Perfect UV Sunscreen Mild Milk SPF 50+ ++++ (pink bottle) has a higher SPF and is still okay with sensitive skin. This has a slightly silicone feel as compared to the mild gel but I’m still okay with that. If you’re looking for a sunscreen spray for retouching, the Anessa Perfect UV Sunscreen Skincare Spray SPF 50+ ++++ has skincare ingredients such as Tormentil flower, super hyaluronic acid and marine collagen. The micro mist will not disturb makeup or make you look oily.

SunPlay Skin Aqua UV Watery Gel SPF50+ PA++++ is also a Japanese sunscreen with a good texture. It is a light gel that’s not oily and will not clog pores.

This one has hyaluronic acid and other skincare ingredients. This also doesn’t make my eyes tear.

Beauty of Joseon Rice + Probiotics SPF50+ PA++++ is a Korean sunscreen with a lightweight formula.

Aside from being a sunscreen, it also has skin calming and brightening ingredients. This is one of the most popular sunscreens right now, thanks to TikTok. Etude House Sunprise Mild Airy Finish Sun Milk SPF50+ PA+++ is another Korean sunscreen with skincaring plant-based ingredients like centella asiatica and aloe vera. What I love about this sunscreen is its watery texture. It can leave a white cast but that disappears after a while.

There are a number of sunscreens from Filipino brands that are quite good but that’s a story for another time.

Marketing BusinessMirror

B6 Monday, April 18, 2022

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The coronavirus chronicles: Great business writing and why it’s about survival

PR Matters

By Millie F. Dizon

“Business writing is a customer service problem”

Stillman starts by imparting an important business writing PR principle—“writing is not about you, your feelings, or your accomplishments. It’s about serving the reader.”

After all, don’t our eyes roll when we come across yet another article from serial self-promoters who indulge in endless reveries about their achievements, their opinions, their families, and whatever?

Nivi frames this truth in a particularly succinct and business friendly way “when he admonishes entrepreneurs and others to see writing as a customer service problem,” she adds.

“You’re not the star—the reader is,” Nivi says. “help them get what they want quickly and effectively as possible. They may want to solve a problem. They may want to be persuaded. Give ‘em the goods.”

Arts & Culture: Silverlens presents ‘Crime and Ornament’ by Pio Abad and Stephanie Syjuco

MANILA, PHILIPPINES – Silverlens is proud to present the twoartist exhibition, Crime and Ornament, featuring Pio Abad and Stephanie Syjuco. Re-engaging and re-energizing previous works to confront the urgency of the moment, the artists materialize the ontology of protest, recalibrating how text, image, and even the seeming impersonality of the chroma key may be activated to prompt oppositional relationships, revolutionary impulses, counter-narratives.

The material components of the show share the same skin as those found in the streets steeped in the climate of outrage and dissent: banners, photographs, textiles—inert objects that, through the artists’ fierce subjectivities, are transformed into vehicles of chronicle and commentary, able to traffic within the discursive spheres of the social and the political. Their approaches are wildly different: Abad, through the

mechanized language of seriality, disassembles and desecrates Marcosian iconography while Syjuco reconfigures the slogan of resistance through the transformative labor of human hands.

Crime and Ornament brings to critical visibility the compulsion to disrupt the vectors through which the dominant ideology flows, slashing a seam so that the energies of the periphery—voices, visions, vocabularies—can rush through. In the works of Abad and Syjuco, these energies achieve surface texture.

Released into the world and able to circulate in the air and light of human consciousness, they are apperceived, generate fresh topographies of meaning, and join other modes of action so that alternative/alternate versions of the real may be forged.

Arts & Culture: Silverlens Galleries holds ‘light, growth, residue’ exhibit by Poklong Anading

MANILA, PHILIPPINES—Light, growth, residue reveals a body of work that confirms Poklong Anading’s place in contemporary art as one of its most keen observers of processes, particularly of the contentious bond that humans forge with nature. As an artist who has displayed incredible adaptability in using differ-

WWW.FREEPIK.COM

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ASTERING good business writing is a must for all communicators.

After all, “great business writing isn’t just about style,” says Jessica Stillman in an article in Inc.com.

“It’s about survival.”

She makes her case clear: “If your sales copy isn’t compelling, people won’t buy your products.

If your interoffice communications are unclear, that will hold back collaboration. No one will invest in your company if you can’t articulate why it’s going to succeed.”

Experts, she continues, are suspicious of “bloated, jargon-filled writing,” which they consider “a warning sign that a company has deeper strategic or execution problems it’s trying to paper over with bloviating prose.”

In short, writing well will make or break your business or career.

But how does one get good at it?

Here, Stillman—who is ever on the lookout for useful advice— shares with us some tips from AngelList co-founder Babak Nivi in her article 5 Commandments of Great Business Writing:

“Sum it up in a tweet.”

(Or a headline)”

After all these years, short and sweet still works best when communicating. Otherwise your message could get drowned in a sea of confusing words.

Stillman and Nivi believe that if you can’t sum up what you’re say ing succinctly at the end, you’re really in trouble. “If the tweet isn’t compelling, the rest isn’t compelling,” Nivi writes. “ The ideal tweet absolves the reader from reading further.” It has been suggested by another expert, Sequoia, to “summarize the company’s business at the back of a business card.”

Stillman also shares with us that when she starts an article, she starts with a headline, which she constantly reworks “because my thinking has shifted.”

Writing, after all, “is about thinking, not expressing.” But if you don’t start “with a clear destination in mind, expressed in the form of a headline [or a tweet], you’re likely to waste a colossal amount of time.” And the reader

ent media and materials—from drawing, to video, and to actual organic forms—Anading makes good of this versatility by demonstrating their interconnectedness, and by insisting on seamless movements from one idea to the next. These are ideas that remain faithful to an inquiry: on whether art is simply for the transformation of materials or is it through our interaction with materials that ultimately shape art?

Revisiting seven different works from different stages of his career, Anading is able to piece together a developing commentary on the conditions of the Anthropocene. Where man’s relationship with his environment increasingly becomes more shrouded in controversy, he reflects on their interdependence and how the artist, who has his own particular relationship with objects and materials, can navigate his way across the pitfalls of consumption and usage.

Poklong Anading’s latest solo exhibition is a prime example of a remarkable attentiveness in viewing objects—particularly, un objet d’art. It crosses new territories that are beyond merely consuming materials and into understanding our relationship with them; and eventually, in realizing our place in nature. As in growth: it is the artist’s own

could easily lose interest.

published them.”

“Writing is rewriting.”

“Don’t write your thought process”

Jeff Bezos, who built a famously writing-centric culture at Amazon, believes that “writing well is an iterative, time-intensive process.”

Stillman recalls how Bezos once warned in a shareholder letter no less that “writers often ‘mistakenly believe that a high standard, six-page memo can be written in one day or two or even after a few hours, when it really might take a week or more.”

While there are naturally gifted writers who can turn out wonderful works at the snap of a finger, writing is actually a skill and talent that can be developed through time, practice, hard work, and determination. And constantly rewriting one’s work is a good start.

Nivi has a suggestion: “Write down your thoughts in a stream of consciousness. Don’t get hung up on diction, then, spend most of your time rewriting and reorganizing—sweat the details. I’m still rewriting posts after I’ve

passage and development alongside the objects that inhabit his daily routine, his experience with the nature of things, and their cycles, which in turn dictate their forms. And in gathering these forms together, we are presented with an invaluable message for the resource-depleted world— that instead of merely valuing objects for their usage, we must also understand the nature of their existence.

Campaign Spotlight: Worldfamous Red Bull Athlete Dario Costa sets 5 World Records with ‘The Tunnel Pass Project’ by Serviceplan

VIENNA, AUSTRIA—On September 4, 2021 in Istanbul, World-famous Red Bull Athlete Dario Costa accomplished a hairraising stunt in his racing plane.

The daredevil aerobatic pilot took on his greatest challenge yet, defying all odds to become the first person ever to fly a plane through a tunnel and setting five World records in the process.

Dario and Red Bull brought the guts and creative agency Wien Nord Serviceplan together with brand partnership specialist Now Serviceplan provided the right backup for him to turn a dream into a success story.

After identifying the 2020 m Catalca tunnels near Istanbul

Businessmen are busy people for whom time is currency. That is why it is important to get to the point in business writing. Leave the self-indulgent thought processes for other genres.

Stillman says that it’s best to start off with destination to avoid unfocused, overlong writing. In short, it is important to be able to organize your thoughts before writing your piece.

“The final draft shouldn’t mimic the path you took to come up with the idea,” says Nivi. “Instead start the piece with a conclusion and make your best case.”

“Scrutinize every word for bias and rhetoric”

This is especially important in today’s politically correct world, where race, gender, and all other biases and scrutinized. If you’re in business, this could have dire consequences for your brand.

“Learn more about bias,” Nivi advises. “It is important to avoid

as the location for the worldfirst stunt, Dario, Red Bull and a team of experts created a 3D virtual model of the location to study air waves and currents in the tunnel that could easily drive Dario’s Zivko plane to disaster. In preparation Red Bull developed an uncompromising 14-month-program of cognitive and physical training that enabled the pilot to hone his reaction time down to 0.25 seconds. Serviceplan then brought in brand partners BMW M and luxury watchmaker Hamilton to amplify “The Tunnel Pass Project.”

Serviceplan struck up a strong brand partnership with the Swiss precision of Hamilton in which the watchmaker designed a special edition watch for Dario with a face that can be unclipped and placed on the plane’s console so his eyes were undistracted from his mission at all times. With only 2 meters between each wingtip and the tunnel walls, maximum focus was absolutely crucial. 100 of these watches were produced as a limited edition and sold out within minutes.

To further perfect Dario’s reaction time, Serviceplan turned to BMW M for help to practice on their racetrack as well as on location in Istanbul at bullet speed. A 360-degree-camera was fitted to

unintentionally offending people with a poorly-thought-out word of choice, but scrutinizing your text also helps you root out your ow n unexamined biases, and think more logically.” This can only be good for you and your business.

With this, products that evoke physical, emotional, and spiritual well-being will enhance of these Self-Love Seekers, resulting in better customer loyalty.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chair.

We are devoting a special column each month to answer the reader’s questions about public relations.

Please send your comments and questions to askipraphil@gmail. com.

the roof of a BMW M model car at the precise level Dario’s eyes would be in his plane, so that it could later be connected to VR —giving him the option to train over a thousand times before performing the stunt in the tunnel.

Dario’s successful, recordsetting flight was pushed out globally on Red Bull, BMW and Hamilton platforms immediately conquering screens, news outlets and social media feeds across the planet—generating over 1.7 billion euros in earned media.

What started as one man’s lifelong dream became an instant sensation turning Dario Costa and his successful record attempt into a viral news story that was quickly picked up by countless TV, print and online news outlets all around the world. His inspirational message of challenging your own limits and turning dreams into reality turned the Red Bull athlete into an overnight superstar.

Red Bull always encourages its athletes and audiences to chase their dreams.

Dario Costa says: “There was a lot of learning from this project, a lot of tools and knowledge that we have to fulfill even bigger dreams. I’m writing a book about The Tunnel Pass and what’s behind it, which is actually a lot of my life.”

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

Sports BusinessMirror

Alido spices up title chase as men’s golf tour resumes at Caliraya Springs

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LITTLE over a year after scoring a breakthrough at Riviera, Ira Alido is back in the hunt for a Philippine Golf Tour (PGT) crown, stronger and better coming off a stint on the Asian Tour and the Asian Development Tour.

He missed the season’s kickoff leg at Luisita last month, but the 21-year-old rising star is more than ready to slug it out with the cream of the local pro crop in the International Container Terminal Services Inc. (ICTSI) Caliraya Springs Championship unfolding Tuesday in Cavinti, Laguna.

Alido, who broke into the pro circuit in 2018 with a lot of promise, dominated the same field in the PGT Riviera Invitational Championship in 2020, coasting to a nine-stroke romp over former PGT Order of Merit winner Jobim Carlos and two others at the Langer course.

He stayed fit and in shape during the long pandemic break through home practice although he admitted it’s a different thing being on the range or fairways where he could hit balls and measure his progress as a player. He vied in the DGC Open of the Asian Tour last month and in the ADT’s Gurugram Challenge three weeks ago, both in India.

But the rest of the 60-player PGT cast are also all primed up for the P2 million championship, including former Philippine Open champion Clyde Mondilla, who lost to absentee Miguel Tabuena in sudden death at Luisita, Jhonnel Ababa, Tony Lascuña, Jay Bayron, Michael Bibat, Marvin Dumandan, Zanieboy Gialon, Reymon Jaraula, Frankie Miñoza, Robert Pactolerin, Joenard Rates, Gerald Rosales, Ruperto Zaragosa, Dutch Guido Van der Valk, Lloyd Go and Carlos.

Held simultaneously with the PGT is the 54-hole Ladies PGT also set to fire off tomorrow with Chanelle Avaricio seeking a second straight championship after besting multititled Princess Superal in the ICTSI

Hallow Ridge Challenge in San Pedro, Laguna two weeks ago.

But like Alido, Avaricio braces for a fierce challenge from the likes of reigning Order of Merit winner Harmie Constantino and leg winners Daniella Uy and Sunshine Baraquiel while Chihiro Ikeda is also going all out to snap a long spell in the circuit organized by Pilipinas Golf Tournaments Inc. Superal won’t be around to honor a commitment to play in Thailand but Marvi Monsalve, Sarah Ababa, Florence Bisera, Kristine Fleetwood, Apple Fudolin, Lucy Landicho, Pamela Mariano, Eva Miñoza, Gretchen Villacencio and Shery Villasencio along with lone amateur Aily Kidwell toughen up the cast in the P750,000 event put up by ICTSI. What makes this week’s title chase doubly interesting is that no player from each circuit holds a distinct advantage as the touring pros will tackle the Arnold Palmer-designed layout for the first time, thus ruling out the proverbial edge in local knowledge of the course spruced up in championship condition.

But there sure will be players who will stand out in the next three or four days, most specifically those armed with long game and superb ball control and those who will come up with the necessary adjustments on a well-kept course that varies in character in every swirl of the wind.

THE 21-year-old rising star Ira Alido is more than ready to slug it out with the cream of the local pro crop.

AS flag bearer, a big responsibility comes with the honor but Ernest John “EJ” Obiena says he’s ready for the challenge.

PHL gals set training to high gear in Brazil

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REPARING for its next assignment, the Philippine women’s volleyball team intensified its practice sessions on Saturday by giving importance to defense and tactics that could serve the country well in the coming 31st Southeast Asian Games in Hanoi, Vietnam.

The spikers will play another tuneup on Tuesday against a top-caliber Brazilian club that head coach Jorge Edson Souza de Brito has yet to name, the second of at least five high-level matches on tap to whip them up in superior shape in time for the Games less than a month from now.

“We always add something new each time we go into practice. I can see the improvement day by day, so when we play the next match, we’ll become better,’’ said de Brito after concluding a pair of workouts on Day 3 of the team’s two-week training camp at Sportville, Brazil’s national women’s volleyball center located in Barueri.

Middle blockers Jaja Santiago and Dell Palomata were bunched with

open spikers Alyssa Valdez and Ces Molina, opposite spiker Mylene Paat, setter Iris Tolenada and libero Dawn Macandili, who all worked on the defensive pattern instilled by the coaching staff. The other group focused on ball control and receiving with open spiker Jema Galanza, opposite spiker Kat Tolentino, setter Kyle Negrito and libero Kath Arado teaming up with middle blockers Aby Maraño, Majoy Baron and Ria Meneses.

“We did tactics in the morning and put all the guys together in the afternoon, but we used only five players on each side,’’ said de Brito, who was competently assisted by coaches Odjie Mamon, Grace Antigua, Raffy Mosuela, Tina Salak and therapist Grace Gomez.

“With five (players), you will do more using less guys. They have to move more, react more and cover more space than usual,’’ added the Brazilian tactician who captured a gold medal with Brazil’s men’s volleyball team in the 1992 Barcelona Olympics.

Bye Boyet Sison I JUST lost my oldest friend in the world… Boyet Sison. For most, he was a sports broadcaster and a disc jockey. Me? He was more than that.

As a kid, the first-ever place we lived was at the apartment complex Boyet’s family owned along Calbayog Street in Mandaluyong—just across Eric Reyes’s place.

He was my first-ever kalaro and friend. When school was out, we played tex, trumpo and read comic books all day long. Oh...he was my tormentor and big brother, too. But I say the former affectionately.

When we moved homes I lost touch with him. My dad, who he called, “Tito Danny” or my mom, “Tita Neomi” he

The Philippine National Volleyball Federation under its president Ramon “Tats’’ Suzara has formed the national women’s squad seeking for a podium finish in the Vietnam SEA Games set from May 12 to 23.

The last time the PHL spikers captured at least a bronze medal in the Games was back in the 2005 edition when Manila played host.

OBIENA NAMED FLAG BEARER IN HANOI SEAG

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By Josef Ramos

T could have been two but policies say only one so from one Olympian to another, Hidilyn Diaz would be at Ernest John “EJ” Obiena’s back when the world-ranked pole vaulter bears the country’s colors during the traditional parade of nations in the May 12 opening ceremony of the 31st Southeast Asian Games at the My Dinh National Stadium in Hanoi.

Diaz, the country’s first Olympic gold medalist, fully support Obiena, saying that her fellow Tokyo Olympian pole vaulter is the “story of every Filipino athlete who fights to bring home pride and glory to the country.”

“I’m very happy to see EJ as our flag bearer for Team Philippines,” said Diaz, who, like Obiena, will defend her weightlifting gold medal in the postponed Games from last year. “I’m happy for him and the rest of the Philippine delegation. I will support him.”

Philippine Olympic Committee president Rep. Abraham “Bambol” Tolentino asked the Vietnam organizers for Diaz and Obiena carrying the country’s colors together in the parade of nations, but the SEA Games allow only one athlete to be PNVF secretary general Don Caringal helped arrange the Brazilian training camp while PNVF executive board member and national team chairperson Tony Boy Liao serves as head of delegation in the trip backed by the Philippine Sports Commission, Philippine Olympic Committee, Rebisco, PLDT and the City of Taguig.

Prior to the bronze finish in 2005, Team Philippines also claimed the same medal color in 2003 Hanoi long after the national lady spikers seized the gold in the 1993 Singapore edition.

BRAZILIAN Coach Jorge Edson Souza de Brito is preparing the team for another tuneup match.

would see once in a while. Boyet would also go to my dad’s PARI office for music stuff (my dad was the president of the local music association for 27 years). And he would from time to time, talk to my siblings as well.

I got reacquainted with him many years later when I established myself as a journalist and he reintroduced himself to me.

When I remembered him, we had this huge bear hug.

And since then, we always stayed in touch…and how.

Boyet and another good friend, Bill Velasco, would oft invite me to their Hardball show. Suki nga kung tawagin. I think I was on their show about 15 times! Maybe even more because I’ve lost count.

When Senator Freddie Webb wasn’t available for Fastbreak, which Boyet co-hosted on DZMM, I was the one to fill in. I even once held that chair for three weeks straight.

When he needed a story for his newsbreaks, he would call.

When he needed the lowdown on some chismax, he would call.

When he needed an opinion, he would call. When he needed a listening ear, he would call. And we’d talk. Talk the talk of friends. Unfiltered and honest. But that is us.

During this pandemic, Boyet joined my Batch #4 writing class along with actor Jamie Wilson, singer Medwin Marfil, foodmaker Sandee Masigan, indie film producer turned baker Mitch Moreno, and others in a star-studded class that was amazing in talent and brilliance. Bet you didn’t know that he wrote well...he sure did.

Then they all moved up to my Creative Writing class and

Monday, April 18, 2022 B7

bestowed with the honor.

“There could only be one flag bearer for each country. We nominated Hidilyn and EJ, but it was turned down,” Tolentino said. “Like Hidilyn, EJ has all the qualifications to be our flag bearer.”

Obiena retaining the SEA Games gold medal is a no-brainer. He won gold in the 2019 Philippine Games with a commanding leap of 5.45 meters and since then, has set the bar higher to a new Asian men’s record of 5.93 meters he set last year in Innsbruck, Austria.

“It’s an honor,” Obiena said. “I was heading home after training here in Formia [Italy] when I received the message.”

As flag bearer, a big responsibility comes with the honor. But Obiena said he’s ready for the challenge.

“All I can do for now is to train harder and be better, and smarter,” the 26-year-old Obiena said. “I really want to defend my SEA Games title.”

The 6-foot-2 pole vaulter is one of 656 athletes who will be defending the country’s grip of the overall championship in the Games that Vietnam is hosting for only the second time since 2003.

The hosts programmed 40 sports—the Philippines is

competing in 39 of them—which they intend to dominate. But Tolentino is undaunted.

“We are fielding a fighting team,” Tolentino said.

Team Philippines will fly to Vietnam in batches with the main bulk set to leave on May 10, two days before the opening ceremony. The Games end on May 23.

Obiena heads a cast that include fellow Tokyo Olympian Kristina Knott and SEA Games marathon queen Christine Hallasgo who were nominated to the national team for Hanoi by the Philippine Athletics Track and Field Association (Patafa).

Obiena and co. will be competing in 39 of the 36 events programmed for athletics.

Included in the athletics roster are Eric Cray, Aries Toledo, Janry Ubas, Melvin Calanoc, Clinton Bautista, Natalie Uy, William Morrison and Sarah Dequinan, all of who will all be defending their gold medals in Hanoi.

Gonzaga University standouts Said and Yacine Guermali will be making their debut in the SEA Games where the Filipino bets are hoping to match or surpass the 27 medals won during the 30th edition the country hosted at the New Clark City.

San Beda stays unbeaten in five matches at Arellano U’s expense

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AN BEDA pulled away in the second period to beat Arellano University, 82-68, and remain unbeaten in National Collegiate Athletic Association seniors basketball action at the La Salle Greenhills Gym on Sunday.

Holding a slim 17-15 lead after the first 10 minutes of play, the Red Lions outscored the Chiefs, 30-17, in the second period to erect a 4732 halftime advantage and never looked back.

Raising its record to 5-0 won-lost, the week-long break has benefitted San Beda as it embarks on a tough two-week stretch that ends with a rivalry game with Letran on April 29.

“Well, it’s the schedule. We have no qualms with that,” Red Lions coach Boyet Fernandez said. “We took advantage of that because it’s Holy Week, at least we were able to reflect and then we also have to prepare for the future games.”

We are looking for five games in

eventually, the book writing class. Boyet was a part of it until he got called to do TV Patrol.

The one year he was in my class, we got closer. In those sessions (that numbered about 40 all in all), he shared his brilliance. In fact, he missed class only twice. And that says something about his dedication.

Outside class on zoom or on messenger, he bared his feelings about many things. On many nights, we— on zoom or sometimes face-to-face—along with Juno Oebanda, Jamie Wilson, Nicole Asensio and Sancho would talk about the pandemic, our national problems, movies, music, projects we wanted to do together, and stuff. And by God, those sessions were hilarious, insightful, and well, encouraging.

Ah...music. Something close to our collective hearts and souls. We made playlists for one another and were even working on a music project together.

Boyet was my cheerleader without fail. It was also because of him that many others who I now call friends enrolled in my writing class. He was like that with everything I did. “See,” he would oft say, “You found your place in the world and didn’t really need anyone’s help.”

Boyet was my oldest friend and without fail would tell everyone about that. And warts and all, I am proud of that.

Boyet was my kuya. The only one I acknowledged as such.

Just the other day, we spoke. What is this, I asked about his post.

“Brad, okay lang ako. Ikaw ang dapat mag-watch out for

two weeks,” he said. “We got already Sunday and then we have four games remaining.”

Fernandez added: “As I have said, we are looking at our campaign one game at a time. We are looking forward for Perpetual Help on Wednesday.

We will just be ready for that.”

James Kwekuteye had 14 points and four rebounds and recorded a +15 efficiency rating to lead San Beda.

Gab Cometa was the other Red Lion who finished in double figures with 11 points.

Axel Doromal took the scoring mantle for Arellano University with 16 points while Gelo Sablan added 10 points and six rebounds.

Justin Arana, the league leader in double-doubles with four, was held to seven points but grabbed 13 rebounds for the Chiefs.

The games resume on Tuesday with College of Saint Benilde facing Mapua University at noon and Jose Rizal University taking on San Sebastian College at 3 p.m.

your health,” he said. “Prayers lang, brad. Okay na.”

Then I get a call.

How do you process this? His luck had turned. After battling a few months of depression, he was back on prime time television and boy did he deserve it. When he got the slot, he called, “Brad, I got it.” And I was ecstatic for him.

Now, just like that...he’s gone.

During one of our last writing classes together, he said he was looking for this old photo of me and him when we were kids. It was his birthday party at the garage of their old apartment complex.

Whatever photos we had of those days were lost when a fire hit my parents’ home in 2014. So it was up to Boyet to search for his copies.

Eventually I said, “It’s okay, Papa B, even if you don’t find it.”

“Why do you say that,” he replied.

“Because we still have our memories.”

He smiled and in his usual excited tone bellowed, “Yan ang sinasabi ko. Magaling ’yung balik.”

I may have our pictures from my guestings on Hardball and other talk shows with him as well as from parties and in class but he will always live on in my memory.

Thanks to my cheerleader, oldest friend, and kuya. It hurts like crazy to lose you. But I am strong because of you.

Rest in peace.

Your cheerleader as well, your oldest friend, and your younger brother—the one you never had.

ExecutiveViews BusinessMirror

B8 Monday, April 18, 2022 | www.businessmirror.com.ph

ANDREAS I. BALLA

A CHEF’S HOMECOMING AT OKADA

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By Anne Ruth Dela Cruz

FTER two years of limited activity and movement due to the Covid-19 pandemic, people are raring to go out, travel and just basically have a good time with family and friends. Now that most of the country is under Alert Level 1, the hotel industry has opened its doors to staycations, events with limited number of guests and unforgettable dining experiences.

The Restaurants at Okada Manila serve up traditional classics alongside innovative culinary creations, offering guests a world of flavors ranging from zesty Asian fare to the flavorful European and intercontinental cuisines.

The man who will make sure that guests at Okada Manila will enjoy only the best food is Chef Andreas I. Balla, the Vice President for Food and Beverage.

Balla could be described as a “balikbayan” as he has worked in the Philippines before. He was tapped back in September 2015 to serve as the Director of Culinary during Okada’s pre-opening phase. He stayed in that post for four years before he moved to another hotel in Vietnam where he worked from September 2019 to March 2021. And in the midst of the Covid-19 pandemic, Balla again found himself back in Philippine shores to continue his work in Okada.

Academic career Before his foray into the culinary field, Balla initially wanted to pursue an academic career. He related that it was pure coincidence that he got into culinary. He started working as an extra in a bar as a bartender during weekends just to earn extra money.

“And then I was asked to help out in the service side, which I did and after that I helped out in the kitchen and that was how I started and I really loved what I was doing. It was a very special thing so I worked in some small restaurants not far from where I was from,” he related.

He started his culinary career in one of the most prestigious hotels in Munich, Hotel Kempinski.

The plan was to undergo internship for a few months and those three months became two years. After years of working in Germany and Sweden, Balla found the opportunity to move to Asia, specifically the Philippines, back in November 2004 where he worked as Sous Chef

at the Hotel Mandarin Oriental. He worked there until January 2006.

“You asked me how I ended up in the Philippines. I still ask myself that question,” Balla said with a laugh.

“From what I recall, it was 20 years ago when I received a call from a head-hunter who said that Mandarin Oriental was looking for a sous chef and I, who was still quite young, who has never been to Asia, has never been outside of Europe, said I should try this, So I did,” he recalled.

Adapting to a Life in Asia He added that he knew very little about the Philippines and admitted that he was culture shocked when he first arrived in the country. At that time, the Internet was just at its infancy and he had no way of researching about the Philippines.

“When I rode from the airport going to the hotel, I did not know what route the driver was taking. I was surprised to see the disparity in the living conditions from one side of Manila to the other, and that’s something that was entirely new to me. And when I arrived in Makati, and it was a completely different world. I was never aware that it can be rough in some places. So, I had to gradually learn to adapt to living in Manila, know more about the local culture and the working environment,” he said.

According to Balla, working in Michelin star kitchens and restaurants was a real challenge. There were moments of frustration that involved some screaming and cursing. Amidst all the chaos, there he was trying to prove his mettle.

That, however, was a bad move.

“After two weeks of working, the Human Resources office called me and asked if I liked working in the Philippines. I said yes, of course. And then I was told that if I wanted to continue working in the country, I would have to change my ways because I was just too pushy, rough, direct and the screaming had to stop. That doesn’t work in all kitchens,” Balla said.

“That was really an eye opener for me. The longer I stayed here, it became easier for me to learn all these small things that you don’t even have a clue about. It took a while but I managed. I came through and I worked there at Mandarin for two years before I went back to Germany,” he added.

Pandemic appointment In the midst of the Covid-19 pandemic, Balla received a call from Okada, asking him if he would like to return to the Philippines as Vice President for Food and Beverage.

“To be honest, I did not hesitate.

First of all, it would be a challenge for me. Even though it was similar to what I was doing before, it comes

NONIE REYES

One hotel that is happily welcoming back visitors is Okada Manila. Touted as Manila’s grand icon, the 42-hectare hotel is known for its top tier facilities and services. As a premier destination for hospitality and entertainment with a prestigious 5-star award from Forbes Travel Guide, the integrated resort has 993 exceptional accommodations ranging from 60 square meter deluxe rooms to 1,400 square meter villas complemented by amenities such as the one-of-a-kind Cove Manila nightclub and indoor beach club; a range of event venues for all types of celebration, a plethora of dining options, an expansive spa, the Retail Boulevard, and the world’s largest multicolor dancing musical fountain.

with new areas of responsibility and I said yes, ‘why not’ because I love new challenges.” he said.

He returned to the Philippines on the day the country observed the first anniversary of the Covid-19 lockdown. He now manages roughly 1,000 staff and relies a great deal on his managers.

“Something I have learned throughout the years is to delegate work. It is impossible to do everything by yourself. You have to trust your subordinates and you have to be able to delegate and trust. That’s the only way,” he said.

When asked if he enjoyed the management side or the culinary side of his job, Balla said that it’s an equal balance of both worlds. He stressed though he enjoyed cooking, the reason why he became a chef in the first place.

“What I am doing now is on top of being a chef. I have been in the business for the past 20 years and 15 years in the casino resort business. I have worked with a lot of luxury brands and I have gathered knowledge not only in cooking but I am also involved in the development of concepts and what not,” he said.

“So I am trying to change.

I know it is not going to happen overnight. You have to be patient and take baby steps and at the same time, you cannot push people too hard. The people here have been through two years of real hardship so now slowly, making a little bit of change. You cannot pick the fruits the next day right?

You have to be patient in order to make change,” he added.

Special time Now, Balla said, is a special time because it is like the reopening of Okada. The management team is currently in the process of activating “a lot of areas that have been asleep for a very long time, opening up new restaurants.” Okada will also be opening new areas like The Executive Lounge.

“Hopefully, this is it. We are moving in the right direction and we have come to the fact that the situation has tapered off and majority have been vaccinated and more and more countries are starting to accept the fact that we have to adapt to the situation and impose the needed safeguards to continue on. Hopefully, it stays that way,” he said.

As for his management style, Balla described it in three words – collaborative, participatory and engaging. He allows his staff to participate because he does not know everything that is happening in every corner of the hotel.

“I try to listen to my team and the same with the cooking staff.

Who am I to tell them how to cook adobo? Or a Korean chef? I cannot say. This is not my palate and I have to trust them and that is why we hired them because of their expertise. So I am part of the decision making process. I have to make the ultimate decision but at the end of the day I always consult

my team,” he said.

“Regardless of position, you can always learn something from anyone. You can pick up stuff from a junior. It is a constant learning process as well,” he added.

A typical day for Balla starts between 6 to 6:30 in the morning where he can have an hour or two of “me time” when the office is still dark. He goes through the emails that he did not finish the previous day before and to just focus for the tasks ahead.

“On a property like this, no day is like the other day. There is always something new coming up and it make the day exciting. People start dropping into the office at 8 am and questions start to come in and continuously, meetings, emails and walking around the property, making sure that all is well in the outlets, kitchens, in the restaurants,” Balla said.

Full steam ahead Okada Manila is ready to go full steam ahead, Balla said. The Restaurants at Okada Manila that are now open to receive customers are the Medley Buffet, the center of local and international gastronomy with a banquet of local and international cuisines ranging from Chinese to Indian, Japanese, Korean and Italian fare that is served every day; the newly opened Red Spice which specializes in Cantonese and other Chinese cuisines; Goryeo, which offers an authentic Korean barbecue experience; Kiapo, a go-to

place for well-loved Filipino staples; and the Lobby Lounge.

Soon to reopen is Enbu, which offers traditional Japanese grill and classic Japanese dishes and La Piazza, known for its wide culinary landscape of delectable Italian fare. Guests can also look forward to the opening of their brand new concept in late second quarter of 2022– Sinag. Sinag is a beautiful Filipino themed restaurant that will offer traditional and wellloved Filipino dishes. Sinag will cater to checked-in guests staying at the Coral Wing for breakfast and offer an ala carte menu for lunch and dinner.

“You can tell that Filipinos miss going out in the past two years. They want to do something and have a semblance of normalcy. They want to go away for a staycation. They want to jump into the pool and enjoy good food with friends like it was before,” Balla noted.

Balla stressed there is something in Okada for everyone. “At Okada, guests can create great stories – a place to celebrate milestone occasions, have memorable stays, savour a world of flavors by dining at our various restaurants; appreciate the quality service complemented with Okada Manila’s signature renowned blend of Japanese hospitality and Filipino warmth; and overall, an enjoyable place for the entire family where the customer experience is always extraordinary,” Balla concluded.