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Thursday, August 4, 2022 Vol. 17 No. 300

P.  |     | 7 DAYS A WEEK

GROWTH COULD HIT 6-7%

TAIWANESE President Tsai Ing-wen (standing), speaks during a meeting with US House Speaker Nancy Pelosi and other members of Congress in Taipei, Taiwan, Wednesday, August 3, 2022. Pelosi, meeting top officials in Taiwan despite warnings from China, said Wednesday that she and other congressional leaders in a visiting delegation are showing they will not abandon their commitment to the self-governing island. Story in “World,” page A10. TAIWAN PRESIDENTIAL OFFICE VIA AP

B C U. O

@caiordinario

ESPITE surging inflation, the Philippine economy remains on track to posting a full year growth of 6 to 7 percent this year, according to a local think tank. In its latest Market Call report, First Metro Investment Corp.University of Asia and the Pacific (FMIC-UA&P) Capital Market Research said, however, that GDP growth in the second quarter will be slower than the first quarter’s 8.3 percent. Data from the Philippine Statistics Authority (PSA) showed inflation was above 5 percent in the second quarter or the April to June period. Second quarter GDP, meanwhile, grew 12 percent in 2021. “Given the positive data and improved consumer sentiment, the economy will continue to recover rapidly, albeit at a slightly milder pace. We still see the economy expand by 6 percent to 7 percent for the entire year,” the report stated. FMIC-UA&P Capital Market Research said their optimism for the year stemmed from expectations that infrastructure spending is expected to accelerate in the second half of the year. The think tank said this will be

fuelled by better fiscal space as tax revenues recover during the period. Part of the improvement in tax revenues is the positive impact of the peso depreciation on sectors like the Business Process Outsourcing (BPO). The peso depreciation against the dollar, FMIC-UA&P Capital Market Research said, will also benefit Overseas Filipino Workers, who will enjoy higher remittances. It added that the country’s export sector will also benefit. “We see the peso depreciation to boost income of some 70 million Filipinos and offset likely softer consumer spending due to the elevated inflation. We expect a short-run respite for the peso with the US dollar weakening from its peak and Philippine trade deficit lower in H2 [second half of the year] from record highs in May and June,” the think tank said. FMIC-UA&P Capital Market Research said the country’s growth

THE BROADER LOOK »A6

Shift to hybrid forced BPOs to be ‘creative’ in employee benefits B A E. S J

HE shift to a hybrid work setup has prompted business process outsourcing (BPO) companies to become “more creative” in providing benefits to their employees, says IT and Business Process Association of the Philippines (IBPAP). “In terms of these compensation, these benefits in general, we’ve had to be very creative, especially since it’s a very fierce market out there,” said Frankie Antolin, IBPAP Executive Director for Talent Attraction and Development at a forum in Makati on Wednesday. The IBPAP official emphasized that prior to shifting to the hybrid setup, BPO firms’ focus was on the soaring transportation allowance, which had to be rechanneled into “digital content, more of the internet, some subsidy in terms of power” and some that employees could use while setting up their office. Antolin noted that as these firms transition to a “new world order” in terms of hybrid work, they had to resort to creativity in terms of shifting the pieces of the pie, if

there is really no room to increase the overall amount. Meanwhile, Antolin said that IBPAP, together with its partner associations, have been “looking at something a little bit more permanent” in terms of the work set-up that the Association will be implementing. However, she stressed that it’s still an ongoing conversation. Nonetheless, the IBPAP official said they are weighing their decision according to the country’s competitors across the region and even across the globe, as IBPAP wants to ensure that the country remains a lot more competitive in that aspect. In a survey done by IBPAP, employees of a number of companies indicated that they’re more efficient and productive in a hybrid model. In addition, she said, the type of workplace model arrangement will affect their decision to stay in the company. According to the IBPAP official, post-pandemic, “about 75 percent of IT and Business Process Management [IT-BPM] organizations C  A

C  A

MECO tags evacuation sites, shelters for OFWs B M T-B @maloutalosig

‘E

VERYTHING is very normal, very calm, especially our OFWs.” The Philippines’s top representative to Taiwan Silvestre Bello III made this assurance Wednesday when asked by BM on the situation in Taiwan following the controversial visit of US House Speaker Nancy Pelosi. Pelosi arrived in Taiwan Tuesday night despite dire warnings

from Beijing that it would take all “necessary measures” to defend the territorial sovereignty of China. On Wednesday, China was on high military alert; 21 of its warplanes entered the Taiwan Air Defense Identification Zone (ADIZ), and the Taiwan government web site was attacked. China regards Taiwan as a renegade province and has been blocking international efforts to recognize it as an independent state. S “MECO,” A

PESO EXCHANGE RATES US 55.3930 ■ JAPAN 0.4159 ■ UK 67.3856 ■ HK 7.0566 ■ SINGAPORE 40.0615 ■ AUSTRALIA 38.3264 ■ SAUDI ARABIA 14.7447 ■ EU 56.3181 ■ KOREA 0.0422 ■ CHINA 8.2064

Source: BSP (August 3, 2022)

News BusinessMirror

Thursday, August 4, 2022

DESPITE INFLATION, ’22 GROWTH COULD HIT 6-7% C  A

this year will also be supported by the 453,000 additional jobs created as of May which was a partial rebound from a decline in April. Further, manufacturing PMI for July clocked at 53.8, the fifth consecutive month of expansion while capital goods imports surged by 21.8 percent in May. Even National Government (NG) spending when adjusted for one extraordinary item, it added, still expanded by 7.5 percent in May. On Tuesday, Bangko Sentral ng Pilipinas Governor Felipe Medalla hinted at lowering their inflation forecast for next year, as favorable global developments may bode well for local prices in 2023. Medalla said they are looking at revising their current forecast of 4.3 percent downward nearer the ceiling of their 2 to 4 percent target range. (Story here: https://businessmirror.com.ph/2022/08/03/bsp-chiefsees-local-prices-easing-in-2023/)

The PSA will release the official inflation estimates for July on Friday while the National Income Accounts for the second quarter will be released next week.

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Another piece of Chinese rocket debris falls into WPS—PhilSA

B M T-B

@maloutalosig

NOTHER piece of debris from the Long March 5B (CZ-5B) Chinese rocket that was launched into space on July 24 was found in the West Philippine Sea, the Philippine Space Agency (PhilSA) reported on Wednesday. PhilSA said Filipino fishermen first discovered a torn metal sheet bearing a part of the Chinese flag and a portion of the Long March 5B rocket some 100 miles off the coast of Mamburao, Occidental Mindoro. It was later retrieved by the Philippine Coast Guard. “Upon visual verification, the Philippine Space Agency [PhilSA]

confirms that the debris was part of CZ-5B,” PhilSA said in a statement. This is the second time that debris from the Chinese rocket fell over Philippine territory. The first one came from rocket components that disintegrated during re-entry into atmosphere and landed at Sulu Sea on July 31,

east of Palawan. However, unlike the first debris, the second piece that fell on West Philippine Sea is part of the CZ-5B’s “payload fairing” which detaches from the rocket as it enters outer space during launch. “These discarded rocket stages are usually designed and planned to shed over specific drop zones. The drop zones are usually bodies of water and are selected to minimize the hazards of falling onto populated areas,” PhilSA explained. PhilSA said they “proactively” issued an advisory to all relevant agencies about the launch and the estimated drop zone locations of the rocket debris before the rocket launch occurred on July 24. When debris from the same rocket re-entered the Earth’s atmosphere, PhilSA said they had mobilized teams and prepared to

implement coordination protocols with other national government agencies “for the issuance of actionable information as necessary.” It was not known if the agencies issued any advisories or notice to their constituencies after receiving PhilSA alerts. “PhilSA reiterates its earlier advice to the public to immediately inform local authorities of suspected debris sighted at sea or land. PhilSA cautions everyone against retrieving or coming in close proximity to these materials, since fallen rocket debris may contain remnants of toxic substances such as rocket fuel,” it said. PhilSA said they continue to coordinate with relevant government agencies and partners such as the Philippine Coast Guard and National Coast Watch Center to ensure the proper handling of the rocket debris.

BIRTH, DEATH, MARRIAGE CERTS VALID ALWAYS S EN. Sherwin Gatchalian hailed the enactment of long-awaited remedial legislation he co-authored, granting permanent validity of live birth, death and marriage

certificates. Republic Act No. 11909 or the Permanent Validity of the Certificates of Live Birth, Death, and Marriage Act, covers live birth, death,and marriage

certificates issued by the Philippine Statistics Authority (PSA), its predecessor the National Statistics Office (NSO), and local civil registries. It also applies to certificates registered and issued by the Philippine Foreign Service Posts, and transmitted to the PSA. The senator stressed that the intent of the remedial legislation is to facilitate getting vital public documents and cutting the costs of people in accessing these for various transactions. “We should make it easier for our people to obtain important documents. That is why we pushed for having permanent validity for our birth, death and marriage certificates, so as not to burden the public in having to get them for each new requirement,” he explained in a mix of English and Filipino. Gatchalian asserted that “regardless of the date of issuance, these certificates shall be recognized and accepted in all government or private transactions or services requiring their submission as proof of identity and legal status.” He added, however, that these documents should “remain intact and readable, and should still visibly contain the authenticity and security features.”

At the same time, Gatchalian pointed out that the permanent validity of marriage certificates applies only when the marriage has not been judicially decreed annulled or void, as provided for under the Family Code of the Philippines or any subsequent amendatory law on marriage. Moreover, he added, the law further provides that national government agencies and instrumentalities, government-owned and -controlled corporations, local government units, private companies, private and public educational institutions, and other non-government entities are “prohibited from requiring the submission of another or newer certificates when a valid certificate can already be presented.” The new law was intended to “spare Filipinos from the additional expense and inconvenience of getting new copies of these documents.” He, however, clarified that to verify the authenticity of these certificates and reports of birth, death, or marriage, the law mandates the PSA to coordinate with the Department of Information and Communications Technology (DICT) to develop a civil registry database and establish a virtual viewing facility in local civil registries and in the Philippine Foreign Service Posts. Butch Fernandez

DepEd, YSEALI boost climate change educ

HE Department of Education (DepEd), in partnership with Young Southeast Asian Leaders Initiative (YSEALI), exchange alumni, is boosting climate change education through the conduct of Climate Changemakers. Climate Changemakers is the first climate change training course recognized by the National Educators Academy of the Philippines (NEAP) as part of the Professional Development Priorities of the Department. The program aims to increase the capacities of teachers to effectively teach climate change competencies, integrate climate change in competencies, and commit to climate action. “Time is of the essence. Climate change is an emergency. The time to act is now,” DepED-DRRMS Director Ronilda Co emphasized. Some 400 teachers completed the 10n-week online course that utilized synchronous and asynchronous modalities focusing on correcting misconceptions about climate change. It also provided a space for teachers to reflect on their learning and share challenges and good practices. The course featured lectures from exchange alumni of the YSEALI program of the US Department of State, representatives and former and present members of the National Panel of Technical Experts of the Climate Change Commission, technical specialists and teachers from the Department of Education, and climate

change-focused organizations like the Oscar M. Lopez (OML) Center and Youth Strike for Climate Philippines. The first batch of the training was held from November 2021 to March 2022, and completers were trained to be mentors in partnership with the Divisions of Apayao, Sorsogon, Iloilo City, Eastern Samar, and Surigao Del Sur from the Cordillera Administrative Region, Region V, VII, VIII, and Caraga, respectively. The second batch was opened to all K-12 teachers from public and private schools across the country; hundreds applied and completed their synchronous and asynchronous activities. “Following the ongoing K-12 curriculum review and revision, we will also further enhance the Climate Changemakers online training course before its next release in 2023 and we hope to continue training our teachers to effectively teach climate education and ultimately answer the call to commit to climate action in the Philippines,” Director Co added. Climate Changemakers is also supported of the US Embassy in the Philippines, Save the Children Philippines, YGoal Philippines, Climate Reality Project Philippines, and Climate Action for Sustainability Initiative. An Online Completion Ceremony for the 400 completers was held last July 29, 2022. For more information on Climate Changemakers, please email climatechangemakersPH@gmail. com and drrmo+ccam@deped.gov.ph.

SHIFT TO HYBRID FORCED BPOS TO BE ‘CREATIVE’ IN EMPLOYEE BENEFITS C  A

are likely to operate in hybrid models in the future where hybrid work is increasingly integrated in business solutions offered by service providers.” The IT-BPM sector’s revenues rose 10.6 percent from 2020 levels to $29.49 billion in 2021, eclipsing its recalibrated target for 2022. Employment figures in the industry also increased, recording a 9.1-percent growth compared to 2020. The number of full-time employees in the country increased by 120,000 in 2021, bringing the sector’s total headcount to 1.44 million. Two months ago, IBPAP chief Jack Madrid said that this will spill over into 2022 and continue to boost demand for IT-BPM services worldwide. Meanwhile, at the recent post-State of the Nation Address (SONA) Economic briefing, Trade Secretary Alfredo E. Pascual listed IT-BPM among sectors with the highest growth potential in the Philippines. The Trade chief added that the potential is even greater now with the heightened use of digitalization and online services as a result of the pandemic. He said DTI is encouraging more locators to set up their IT-BPM backroom operation. According to a May 2022 study by Cisco, a US-based multinational technology firm, hybrid work has improved the total well-being of Filipino employees, with 90 percent saying they saved money in the past year. However, the study noted that only 29 percent feel their organization is very prepared for hybrid work.

MECO...

C  A

Bello, former Labor Secretary

and recently appointed by President Marcos as chairman of the Manila Economic and Cultural Office (MECO), said OFWs in Taiwan are already “used” to hearing sirens whenever Chinese fighter jets fly past by Taiwan air space. There are 200,000 Filipinos working in Taiwan. According to Bello, factories where most Filipinos are working have emergency plans in place in case China attacks Taiwan. “Places of work and factories [have been] required ever since to have shelter and food provision for at least two weeks,” Bello said, quoting a report he received from Taipei. Aside from that, MECO and the three Philippine Overseas Labor Offices (POLOs) in Taipei, Kaohsiung and Taichung have a contingency plan “in place for execution” with identified evacuation areas and bomb shelters. “Situation is normal and majority of the people and expats do not believe that China will attack Taiwan at this point it time, although some media outlets are speculating or insinuating otherwise. Nonetheless, our three POLOs and MECO in Taiwan are prepared for any eventualities,” the report to Bello said. “POLOs and MECO in Taiwan are closely monitoring the situation.” MECO has also maintained contact with the Taiwan Office of the Civil Defense, Ministry of Defense, Ministry of Labor and relevant agencies. Gina Lin, a longtime resident of Taipei who volunteers to help OFWs with translation or legal concerns, said so far they have not felt any effect of the Pelosi visit on their everyday living. But they expect China would retaliate once Pelosi leaves the island Thursday. “Although Taiwan cancelled 50 international flights and shipping for today and tomorrow,” Lin said. China’s threat to sanction Taiwan by stopping the export of agricultural products this might also affect Taiwan’s manufacturing sector where Filipinos are mostly employed, she said.

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The Nation BusinessMirror

‘Bato law’ brings ladderized training, economic package for private security guards By Butch Fernandez @butchfBM

EN. Ronald “Bato” dela Rosa remains confident that thousands of private security personnel nationwide will benefit from the improved economic package and ladderized professional development mandated by the Private Security Industry Act, which he authored and championed. It lapsed into law last July 30 as Republic Act 11917 (RA 11917), after President Ferdinand R. Marcos Jr. did not sign nor veto it, pursuant to Article VI, Section 27 of the Constitution. In an interview with CNN Philippines’s The Source host Pinky Webb on Wednesday, dela Rosa said, “This law provides for a whole range of measures to improve the welfare and conditions of our private security guards.” He recalled that “this law is more than 50 years ago already, but it did not capture the prevailing conditions of private security agencies.” The senator affirmed the updated law provides for professional advancement of guards, for their progression from security guards to investigators or trainers, or in short, for a ladderized professional development. Also, it mandates the progression of their salaries and benefits as they go up the ladder of professional development. To be known as the “Bato law,” it

covers both the security guards and the agencies. Dela Rosa took special pride in citing Section 15 of Republic Act 119171 on “Ladderized Training and Education,” which provides that “the Philippine National Police, in partnership with private security training institutions or public institutions duly accredited by the government to provide such training education to private security professionals, shall develop ladderized training and education, which include basic security guard courses, specialized security guard courses, and candidate protection agent courses.” Moreover, it shall also “include enhancement trainings, such as but not limited to, supervisory trainings, personal upliftment and other specialized trainings to place the security professional a level up from his current position.” In turn, it further provides penal provisions for “any violation of the provisions of this Act, after due notice and hearing, subject to corresponding penalties.” This developed, as another “Bato bill” lapsed into law, which may pave the way for the establishment of regional penitentiaries in Visayas and Mindanao to decongest the national penitentiary. For humanitarian reasons, it also proposed to separate hardened criminals from each other so as to cut their ties and prevent them from continuing to work together on nefarious activities inside prison.

Teachers press for retention of tax exemption on honoraria for poll duties By Jovee Marie N. Dela Cruz @joveemarie

HE Alliance of Concerned Teachers (ACT) on Wednesday called on the leaders of the Congress to override President Ferdinand R. Marcos Jr.’s veto on the bill giving tax exemption on the honoraria and allowances for election service. The teachers issued the call during a protest action in front of the House of Representatives. “If the President can’t see the sacrifices of teachers every election, I hope our legislators can see it and we hope they listen,” said Ruby Bernardo, spokesperson of ACT Philippines. The progressive teachers group said they would ask the members of Congress to support their call. Earlier, House Deputy Minority leader and ACT Teachers party-list Rep. France Castro said imposing taxes on the honoraria and allowances of election service volunteers destroys the spirit and intent of the Election Service Reform Act or Republic Act 10756 to compensate the hardships of persons rendering election service. “They must therefore enjoy the compensation in full and not bear additional burdens,” Castro added. “Add to this the fact that no tax was ever imposed on the honoraria and other election service benefits until 2018, since there is no law providing for such imposition,” she added. President Marcos vetoed a bill that would exempt from income tax the honoraria of people who volunteered during the polls. Press Secretary Beatrix “Trixie” Cruz-Angeles said the Palace

thumbed down House Bill No. 9651 and Senate Bill No. 2520, which would have granted the income tax exemption, as it is contrary to provisions of Republic Act No. 10963 or the Tax Reform Acceleration and Inclusion Act (TRAIN). “Moreover, the studies of pertinent government agencies on the revenue loss is too substantial an impact to be foregone,” Cruz-Angeles said. In a related development, Deputy Minority Leader France Castro, meanwhile, welcomed the pronouncement of the Department of Education (DepEd) to hire more non-teaching personnel to relieve teachers of administrative tasks. “We welcome the plan of the Department of Education to hire more non-teaching personnel to relieve teachers from their admin tasks and focus on their teaching. For so long, we have had clinic teachers, teacherlibrarian, teacher-clerks, canteen teachers, feeding teachers, registrar teachers, teacher-guidance counselors, teacher nutritionists, property custodian teachers, and many other tasks shouldered by teachers due to the lack of education support personnel hired by our government. Hiring enough education support personnel per school for these specific and specialized tasks will allow teachers to concentrate and prepare for their classes,” Castro said. “We hope that the Department of Education would release guidelines as to what kind of education support personnel they would hire and we hope that they would start hiring in time for the reopening of classes. We also urge the DepEd to release guidelines, amend or repeal those existing which allow the assignments to teachers of tasks not related to teaching,” Castro added.

Editor: Vittorio V. Vitug • Thursday, August 4, 2022 A3

Labor groups hail filing of bill for 14th month pay for private, state workers By Bernadette D. Nicolas @BNicolasBM

ABOR groups on Wednesday welcomed the filing of a bill pushing for the grant of 14thmonth pay for government and private employees. Stressing that many Filipino families struggle to sufficiently provide for their families because of their meager salaries, Kabayan Party-list Rep. Ron Salo filed House Bill No. 520 seeking to grant a 14th-month pay to employees in the public and private sector regardless of their employment status. Under the bill, the 13th-month

pay will be paid on or before May 31 of each year ahead of the school enrollment of the employees’ dependents, while the 14th-month pay shall be given to employees on or before November 30 in time for the Christmas season celebrations. The Partido Manggagawa (PM) said the proposed 14th-month pay would help low-income workers cope with inflation, which has already hit a near four-year-high of 6.1 percent in June. Year-to-date inflation is already at 4.4 percent, beyond the government’s target band of 2 to 4 percent. “The filing of such bill is most welcome and the passage of which into law is a form of economic relief,

especially to low income workers in the country amid continuing rise of prices of basic commodities and services,” PM National Chairman Rene Magtubo said in a news statement. Meanwhile, the Federation of Free Workers (FFW) said this will help augment the income of majority and unorganized workers, pointing out that most workers with unions and covered by collective bargaining agreements already have the 14thmonth pay or more. “We urge government to enact this proposal into law as well as the P100-billion stimulus package to help SMEs [small and medium enterprises] increase their capital-

VP Sara deploys OVP buses in six key cities for free rides during rush hours By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

AVAO CITY—The Office of the Vice President (OVP) will offer free bus rides in six cities in the country, using its buses assigned to the satellite offices for these rides. Vice President Sara Duterte said the free rides were coordinated with the Department of Transportation (DOTr). The program is called “Peak Hours Augmentation Bus Service [PHABS]- Libreng Sakay” in key areas of Luzon, Visayas and Mindanao. “We hope that through this program, we will be able to provide relief to some of our fellow Filipinos who rely on public transport for their daily commute to work, to school, and to many other places,” Duterte said during the official launch ceremony of the OVP Libreng Sakay program at the Parañaque Integrated Terminal Exhange. The free rides were simultaneously started in Metro Manila in Luzon, in the cities of Cebu, Lapu-Lapu, Mandaue and Bacolod in the Visayas, and Davao City in Mindanao. According to the Vice President,

two buses will be deployed in Metro Manila, one in Davao City, one in Cebu, and another one in Bacolod. The Wi-fi-ready buses were lent for the use of the OVP in Manila and its satellite offices, but Duterte said these “would be more useful if they were deployed in some key areas of the country to be used by the commuting public for free.” “It will support the national government’s Libreng Sakay Program, and at the same time, it is hoped that this meager contribution will translate to daily savings for our public transport-riding kababayan,” Duterte said. Duterte said she is confident that this is just the beginning of many more successful collaborations with the private sector “to provide muchneeded relief to the public.” “Let me emphasize that this program is a demonstration of effective government and private sector collaboration,” she said. In Metro Manila, pick-up of passengers would start as early as 4 a.m. and up to 10 a.m., and 4 p.m. up to 10 p.m. from Monday to Saturday and would follow the usual Edsa bus way. Mandaue City would start ferrying passengers from Jagobiao

at 7 a.m. and up to 10 a.m. and 7 p.m. up to 10 p.m. on Mondays and Tuesdays, while Cebu City would commence at 6 a.m. and up to 9 a.m. and from 4 p.m. to 8 p.m., en route from SM Seaside to IT Park on Wednesdays and Thursdays. Lapu-Lapu City shuttles at 6 a.m. to 9 a.m. and 4 p.m. to 7 p.m. on Fridays and Saturdays, starting at the Mactan Economic Processing Zone (MEPZ) 1. The OVP bus would also start its point-to-point ride in Bacolod City at 6 a.m. and up to 10 a.m. and from 4 p.m. to 8 p.m., except on Saturdays. The free bus transport will also serve other selected barangays in the city on scheduled days. The areas of Lasang, Toril, and Calinan are the designated pick-up stations in Davao City. The operation would start at 6 a.m., and up to 9 a.m. and from 5 p.m. to 8 p.m., every Monday and Tuesday for Lasang area passengers, Wednesdays and Thurdays for Toril residents, and Fridays and Saturdays for Calinanbound commuters. The OVP said the free shuttle transport will strictly impose the “no facemask, no ride” policy to control the possible spread of Covid-19.

Pag-IBIG’s acquired assets go on sale to group buyers By Roderick Abad

Contributor

@rodrik_28

EVERAL groups and employers were encouraged to avail of affordable shelter financing program for their employees through the bulk and group sale of Pag-IBIG Fund’s acquired assets. During its recent virtual Fourth Kapihan event, titled “Own a Home for Less: Pag-Ibig Fund Acquired Assets for Bulk Sale,” the Subdivision and Housing Developers Association Inc. (SHDA), together with the Fund, made this call to enable more Filipino workers to purchase a dwelling place and at, the same time, help address the housing backlog in the country. “For over 50 years, SHDA has remained steadfast, not only in articulating the advocacy of the housing industry but also in championing the welfare of the member developers and providing its members more opportunities,” SHDA National President May Rodriguez said, while citing their strong partnership with Pag-IBIG to provide affordable home financing to the people.

For their part, Marilene C. Acosta, deputy chief executive officer of home lending operations cluster at Pag-IBIG Fund, underscored their thrust of ensuring that the housing loan programs consider all stakeholders involved and they cater to both the demand and supply of the housing sector. “This is why we manage the PagIBIG Fund prudently to keep our interest rates low and our home loans affordable. This is also why we have inclusive programs that cater to all Philippine workers, including the socialized housing market,” she said. At the webinar, they discussed how members, through their employers, could avail of the Funds’ Real and Other Properties Acquired (ROPA) that are up for grabs at discounted rates upon approval of their loans. For regular bulk sales, buyers must purchase at least P10 million worth of properties under the Negotiated Sale only, while for buyerinitiated bulk sale (BIBS), ROPA may be in different stages for disposal, which are first and second Public

Auction or Negotiated Sale. The discount rates are as follows: 40 percent for approved P10 million to P50 million worth of properties; 42 percent, over P50 million to P100 million; and 45 percent, more than P100 million for both regular bulk sale and BIBS. If the buyers fail to secure properties worth P10 million in their first try, they can still bid or submit another request for three consecutive attempts within five successive postings of properties to meet the ceiling prices set by Pag-IBIG to qualify for the discounts. The Fund only approves cash payments or short-term installments and requires a fee of 5 percent of the net selling price. On top of the down payment, a P5,000 cash bank per property for short-term installments is required. Once it approves the properties under regular bulk or BIBS, the members of employees, associations, or cooperatives will sign a memorandum of agreement with Pag-IBIG stating the properties sold and the terms of payment, including the qualified discount.

ization, recover and cope up with the payment of wages and benefits of workers, while still, or after onslaught, of the Covid-19 pandemic,” FFW President Sonny Matula said. For his part, Sentro ng mga Nagkakaisa at Progresibong Manggagawa (Sentro) Secretary General Joshua T. Mata said the proposed bill is a “step in the right direction towards ensuring that workers could enjoy the fruits of their labor,” despite noting that the government “has yet to fix the flawed minimum wage setting mechanism to ensure just wages.” To recall, similar bills were filed in the previous Congress but these did not hurdle the legislative mill.

‘Pagbubuklod’ drill hones PF’s warfighting capability By Rene Acosta @reneacostaBM

HE Philippine Fleet’s (PF) unilateral training activity “Exercise Pagbubuklod” wrapped up its drill on Tuesday at Sangley Point, Cavite, giving the Navy’s primary sea force to improve and revisit its war fighting doctrine and capability. “This exercise enabled us to develop, evaluate, validate and sustain the coherence of our war fighting doctrines and platforms interoperability,” PF commander Rear Adm. Nichols Driz declared. “The exposure of our personnel to the different capabilities, old and new, as well as our limitations provided a holistic understanding of how we should fight as one,” he added. Driz said it is the capacity and commitment to learn, enhance, adapt and develop that will propel the PF to sustain different capacities and acquire new capabilities. Exercise Pagbubuklod 2022 was spearheaded by the Fleet Training and Doctrines Center (FTDC) with its superintendent Capt. Lorenzo Bolor Jr. as exercise director. The training began on July 25, 2022, featuring a series of subject matter expert exchanges, tabletop exercises, shipboard lectures, in-port training activities at Naval Operating Base-Subic. The exercise was highlighted by the “at-sea events” wherein participating personnel and assets such as the BRP Fort San Antonio Abad (AGS701), BRP Manuel Gomez (PC388), BRP Carlos Albert (PC375) and NH434 aircraft simulated various scenarios of maritime security operations in Bataan. Sailor reservists also took an active role during the exercise aimed at acquainting them with the organization and the Navy’s latest capabilities of well deck operations, antisubmarine warfare and others. The reservists also toured aboard BRP Jose Rizal (FF150), BRP Conrado Yap (PS39), BRP Davao del Sur (LD602) and BRP Tarlac (LD601). Driz said the “hotwash” served as the penultimate chapter of the exercise whose purpose was to evaluate and assess the just-concluded training with the goal of developing sound operational concepts of the Navy’s interoperability in addressing security threats in the country’s vast maritime environment.

Hontiveros welcomes passage of anti-online sexual abuse and exploitation of children act

EN. Risa Hontiveros on Wednesday lauded the passage of Republic Act No. 11930, otherwise known as the Anti-Online Sexual Abuse and Exploitation of Children (OSAEC) law, which she authored and

sponsored in the Senate. It lapsed into law on July 30, 2022. “Napakasaya ko na sa wakas ay naisabatas na ang Anti-OSAEC Law. Mas dumami ang exploitative materials online lalo na nitong pandemic kaya’t

kailangang ma-implement na agad ang batas. Urgent action is always needed when it comes to the protection of our children,” Hontiveros said in a news statement. The Anti-OSAEC law increases the re-

sponsibilities of social media platforms, electronic service providers, as well as Internet and financial intermediaries, requiring these stakeholders to block and preserve OSAEC materials and cooperate with law enforcement agents. The

new law also grants additional tools to our law enforcers when surveilling and investigating OSAEC cases. Another feature of the law is the creation of the National Coordinating Center against OSAEC and Child

Sexual Abuse and Exploitation Material (CSAEM), which will be under the Inter-Agency Council against Trafficking. It also establishes protections and guarantees for child victims of OSAEC to address any psycho-social needs.

A4 Thursday, August 4, 2022 • Editor: Vittorio V. Vitug

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TCT cash aid program to cushion impact of inflation for poor Pinoys–Neda chief

By Cai U. Ordinario

@caiordinario

HE release of the government’s Targeted Cash Transfer (TCT) program will help shield millions of poor Filipinos from the impact of high commodity prices, according to the National Economic and Development Authority (Neda). Socioeconomic Planning Secretary Arsenio M. Balisacan said the TCT is an important intervention to protect consumers, particularly the poor, from the decline in their purchasing power.

The Department of Budget and Management (DBM) has already approved the release of the Special Allotment Release Order (SARO) worth P4.1 billion for the TCT Program. “The timely release of the fund is

crucial in the government’s efforts to help the poor cope with the continuous rise in commodity prices due to external shocks and other factors,” Balisacan said in a news statement issued on Wednesday. Balisacan said protecting the poor from the further erosion of the purchasing power is among the priorities of the Marcos administration’s 8-point Socioeconomic Agenda. Neda is tasked to flesh out the 8-point Agenda in the Philippine Development Plan 2023-2028, which socioeconomic agency has committed to deliver by the end of the year. “Our near-term goal as envisioned in our 8-point Agenda is to safeguard Filipinos against the most pressing issues today, which are rising inflation and the lingering socioeconomic scarring caused by the Covid-19 pan-

demic,” Balisacan said. In June, the rapid increase in commodity prices led to the reduction of the purchasing power of the peso to only P0.87 centavos. This means, in order to buy goods worth P1, every Filipino must shell out P0.13 centavos more or P1.13. The Philippine Statistics Authority (PSA) said based on their estimates, the level of the purchasing power of the peso was at P0.89 in March 2022. This means, there was a P0.02-centavo decline in the value of the currency in terms of purchasing goods and services. For the poorest Filipinos, their purchasing power is even lower. The BusinessMirror estimated that for the Bottom 30 percent or the poorest 30 percent of the population, the value of the currency is at P0.72

centavos as of June 2022 from P0.74 centavos in March 2022. The budget allotment is part of the second tranche requirements for implementing the TCT program. It will benefit over 4 million beneficiaries, who mostly belong to the poorest 50 percent of the country’s population. The Department of Social Welfare and Development (DSWD) has been tasked to distribute the cash subsidy. Under the program, the DSWD will also provide P500 per month for two months. Distribution will be through remittance centers, Special Disbursing Officers, and the Land Bank of the Philippines. Under the guidelines of the TCT program, the DSWD will facilitate the distribution of cash grants amounting to P3,000, or P500 per month for six months.

DHSUD cites difficulty of marginalized in house buy

ONSTRAINTS such as the lack of livelihood opportunities and administrative difficulties prevent the poor from owning residential houses, according to documents obtained by the BusinessMirror. In a technical report prepared by the previous administration, the Department of Human Settlements and Urban Development (DHSUD) said it was only able to provide direct assistance to less than 20 percent of what is needed annually. This, the agency said, is compounding the challenges faced by poor Filipinos in accessing affordable homes. The DHSUD added that while microfinance is available, these are often “uncollateralized, short-term” and carry high interest rates. “The physical and administrative difficulties encountered by the urban poor in accessing credit for housing and livelihood opportunities often constrain them from achieving their housing goals,” the report stated. The report added that between 2011 and 2015, the DHSUD, through its Key Shelter Agencies (KSAs), provided direct housing assistance to 883,222 households. This translates to a total of 196,271 households per year, less than 20 percent of the estimated average annual housing need, which is pegged at 926,077 households. “Overall, the need for housing units is estimated to reach over 6 million by 2022. This figure increases to a projected 22 million by 2040. Addressing this deficit requires innovative housing strategies, given the growing urban population and dwindling urban land,” the report pointed out. The ability of the government to provide housing assistance is also constrained by the budget granted to DHSUD and its KSAs. The total housing need of 6 million up to 2030 requires a total budget of P2.7 trillion or an annual budget of P180 billion for 15 years. The report stated that if the housing sector were allocated 5 percent of the total annual budget similar to other countries that would translate to P135 billion annually. This amount, the DHSUD said, would be adequate to cover 100,000 units under the National Informal Settlement Upgrading Strategy and an additional of 300,000 units annually for qualified housing beneficiaries. However, in 2021, the budget allocation for housing was only P4.98 billion or 36 percent lower than the P7.82 billion budget in 2020. “This is not sufficient to cover the annual budget requirement for ISFs [informal settler families] alone, estimated at P45 billion for the 100,000 ISF units as committed in the National Informal Settlement Upgrading Strategy,” the report stated. “Beyond this, ISFs, low-income and poor households are also unable to shoulder the cost of housing, or access the formal housing system, given the lack of income and availability of financing options,” it added. In 2020, the newly formed DHSUD estimated that between 2017 and 2022, the housing backlog is at 6.57 million. Cai U. Ordinario

Newly signed creative industries law seen boosting PHL economy By Butch Fernandez

@butchfBM

EN. Loren Legarda is banking on the timely enactment into law of the Philippine Creative Industries Development Act (PCIDA) to boost the economy. As co-author of the new law, Legarda depicts RA 11904 as “a significant milestone for creative industries.” She stressed that the PCIDA “recognizes and protects individuals” whose skills and ingenuity are being offered for the creative expression of the arts and “for helping the country achieve a stronger economy.” Asserting, “The Philippine creative industry is appreciated and recognized globally,” Legarda found it “prudent for the Duterte government to see how it can protect and nurture the excellence of the movers of this industry.” She noted “creative industries are defined in the law as trades involving persons that produce cultural, artistic, and innovative goods and services originating in human creativity, skill, and talent and having a potential to create wealth and livelihood through the general and utilization of intellectual property.” The senator reminded that an existing law required the creation of the Philippine Creative Industries Development Council, which is mandated to implement a long-term plan for the development and promotion of the country’s creative industries through programs that create opportunities and employment, financial-enabling mechanisms, and incentives. Moreover, she added the Council is tasked to formulate the Philippine Creative Industries Development Plan that shall include a 10, six and three-year development timeline with a list of specific activities in the industry, noting that the law also grants the creative industries the necessary legal protection they deserve. The senator suggested, “We should provide adequate support and protect the artistic brilliance of this industry,” stressing, “The new law is a triumph for all Filipinos, recognizing the competitive edge of talents in our country and the strategic potential of the creative industry to the Philippine economy.”

Mayor Abby, KOICA ink pact for smart public transport system in Makati City By Claudeth Mocon-Ciriaco @claudethmc3

AKATI will soon introduce electric buses to the riding public after Mayor Abigail Binay on Wednesday signed an agreement with officials of the Korea International Cooperation Agency (KOICA) to establish a smart public transport system in the city. Apart from the Makati Subway, Binay said the new public transport system is in line with the efforts of the city government to transform Makati into a smart city. “We need to upgrade our systems because smart transportation is more convenient, safe, and cost-effective for both the city and commuters than traditional frameworks,” Binay said as she led the signing ceremony together with Kim Eunsub, KOICA country director, Yoo Jiyoung, KOICA deputy country director, and Francis Afable, KOICA program manager. She said the smart public transport system would provide commuters with an affordable means of transportation. The mayor also said that the project would mitigate the impacts of climate change and reduce greenhouse gas emissions since the eco-friendly buses are powered by electricity.

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Party-list lawmakers file Good Samaritan measure By Jovee Marie N. Dela Cruz @joveemarie

AWMAKERS are pushing for the passage of a bill that seeks to protect good Samaritans in emergency situations. In filing House Bill 1949 or the proposed “Good Samaritan Act of 2022,” Houses Reps. Yedda Marie K. Romualdez and Jude Acidre of party-list group Tingog said there would be situations “where civilians will have the desire to provide aid to legal channels yet fear the negative repercussions of their actions.” “This bill seeks to support individuals who sought to assist during times of emergencies by protecting them from legal liability if their aid was useful and appropriate to the situation’s deescalation,” the two lawmakers said in the bill’s explanatory note. The measure’s proposed short title is “Good Samaritan Act of 2022.” The House has referred the proposal to the Committee on People’s Participation. They said the approval of the proposed law “will provide an avenue where both the concerns of civilians and government parties can be put to rest, encouraging the populace to aid in the protection of the nation.” HB 1949 defines a “good Samari-

tan” as “an individual performing volunteer services who does not receive compensation to reasonably assist a person in an emergency.” On the other hand, an “emergency” would refer to “a situation requiring immediate attention and remedial action involving a sudden, unexpected, and impending threat to life, health, or safety of a person.” The bill would protect a good Samaritan for harm caused by an act or omission if: The good Samaritan was acting in an emergency at the time of the act or omission; If appropriate or required, the good Samaritan was properly licensed, certified or authorized by the appropriate authorities for the activities undertaken in an emergency at the time of the act or omission; and The harm was not caused by willful or criminal misconduct, gross negligence, reckless misconduct, or a conscious, flagrant indifference to the rights or safety of the individual harmed by the Good Samaritan. The proposed liability protection would not apply to any misconduct that constitutes a crime or was performed under the influence of intoxicating alcohol or any dangerous drug at the time of the Good Samaritan’s improper conduct.

5 against 41: Palace disputes ‘bill vetoing spree’ insinuations By Bernadette D. Nicolas @BNicolasBM

ALACAÑANG on Tuesday disputed insinuations that President Ferdinand “Bongbong” R. Marcos Jr. had resorted to a “bill vetoing spree” by disclosing there were only five bills that were vetoed as against 41 others that have lapsed into law. Press Secretary Trixie CruzAngeles issued the clarification on Wednesday, days after Sen. Francis “Chiz” Escudero said the President may have opted to veto measures approved by the previous Congress, the latest of which was the exemption of honoraria for teachers doing poll duties. “Gusto ko lang linawin ‘no. Hindi po nagkaroon ng ‘veto spree’ ang ating Pangulo. 41 bills lapsed into law and only five were vetoed, hindi kasama doon sa 41. So it’s not a spree,” Cruz-Angeles told reporters in a news briefing. “Tinutono lang naman ng Pangulo doon sa mga sistema iyong mga batas natin, lalung-lalo na iyong mga batas that involved some kind of tax

DAR distributes Rep. ‘Goma’ seeks to uplift local entertainment industry land titles to Misamis Oriental farmers

HE Department of Agrarian Reform (DAR) announced on Wednesday the distribution of certificates of land ownership award (CLOAs) to 506 agrarian reform beneficiaries (ARBs) in Tagpako, Ginoog City, Misamis Oriental. The CLOAs cover the landholdings formerly owned by Milagros Cuenco, a landed estate covered under Republic Act No. 3844 Series of 1963, also known as the Agricultural Land Reform Code, which abolishes the share tenancy system and emphasizes owner-cultivatorship and farmer independence. The beneficiaries of the Cuenco estate are tillers of the land for 15 years. The distribution of the CLOAs is consistent with Administrative Order No. 8 Series of 2016 or the “Guidelines Governing the Completion of Distribution and Titling of Landed Estates under 3844” generating individual CLOAs to farmers who tilled the land for more than a decade. DAR Northern Mindanao Regional Director Zoraida O. Macadindang said that the CLOA covers a total of 114.4245 hectares of agricultural lands, the coverage of which started when she still the position as the provincial director. Jonathan L. Mayuga

EYTE Rep. Richard Gomez has filed two measures seeking to boost the local entertainment industry. Gomez, in a news statement, said that thousands of Filipino films have been lost due to lack of systematic identification, preservation, and restoration efforts. One of these is a bill seeking to preserve the country’s film heritage and promote cinematographic arts and building in compliance with the constitutional provision mandating the government to protect and save the nation’s film reservoir, said Gomez. House Bill 936 notes that other than the establishment of a film archive as mandated under Republic Act No. 9167, or the law which created the Film Development Council of the Philippines, “not much has been done along the line of protecting and conserving our film reservoir, understandably due to the usual problems of funding constraints and lack of technical expertise and storage infrastructural facilities.” “This bill is premised on that hope or chance, no matter how slim and diminishing, that some copies of ‘lost’ Filipino classics may still be traced, acquired, and preserved for the benefit of our present and future generations,” Gomez said. “The film industry is much more than a commercial enterprise de-

Thursday, August 4, 2022 A5

signed for public entertainment. Cinematic films mirror the human and social conditions, dramatizes the people’s struggles towards total liberation and enhances our understanding and appreciation of our social values and national identity,” he added. Gomez said the measure will “give life, infuse meaning, and flesh out the intent of constitutional provisions with the end in view of promoting our cinematographic arts and building and conserving our Filipino film heritage.” On the other hand, House Bill No. 1428 seeks to “provide the much-needed spark for the Filipino artists to excel in their own chosen field” by giving cash incentives and non-monetary benefits to actors and actresses who bring pride and honor to the country when they win in international competitions. “ T his proposed leg islation would be a step closer in the right direction in making the arts a respectable and decent source of livelihood for our artists,” Gomez said. He expressed hope that the measure would “rectify, to a limited extent, the decades of neglect, discrimination and sometimes even opprobrium suffered by artists in a society which prides itself as being democratic and labels itself as humane.” Jovee Marie N. Dela Cruz

break or tax benefits, itutono mo doon sa ating polisiya of tax reform,” she added. Cruz-Angeles said the President vetoed the measure granting tax breaks to the honoraria and travel allowances of poll workers as a matter of “good housekeeping.” Instead of giving tax breaks, CruzAngeles said the government would give subsidies to poll workers. “Sa dami dati ng binibigyan ng ganoon, medyo magulo na iyong sistema, hindi natin alam kung sino iyong mga nagbi-benefit dito at kung makatarungan nga na so many people are exempt or have tax breaks or tax benefits. So, inayos natin iyan under the tax reform laws. So, iyong mga ganitong proposal ay parang binabalik tayo doon sa dating sistema na marami na naman tayong exemptions at benepisyo na binibigay na nakaka-cause ng confusion sa ating sistema,” she said. “Imbes na ganito, ang sinasabi ng ating Pangulo, magbigay tayo ng form of ayuda sa ating mga poll workers. Imbes na iyong benepisyo ay gagawin natin sa pamamaraan ng pagtatanggal ng pagbubuwis; in that

way, maayos iyong pangungolekta natin, iyong sistema ng pangungolekta ng buwis, pero matutulungan pa rin natin sila. So iyon po iyong konteksto noon,” she added. Other measures earlier vetoed by President Marcos include the following bills: creation of the Bulacan Airport Special Economic Zone, strengthening the Office of the Government Corporate Counsel Charter, granting the franchise of Davao Light and Power Company Inc., and creating the Philippine Transportation Safety Board Act.

Newly designated officials

MEANWHILE, Malacañang also announced that President Marcos, Jr. has appointed new officials under his administration, including the Chief Executive’s lead physician Dr. Samuel Zacate who will serve as chief of the Food and Drug Administration (FDA). Cruz-Angeles said Zacate, a public health advocate with years of expertise in medicine and medical consultancy, met all the qualifications to head FDA. Other newly designated officials

include Carlo Dimayuga as acting chairman of the Metropolitan Manila Development Authority, Retired Brig. Gen. Roman Felix as Secretary of the Office of the Presidential Adviser on Military Affairs (Opama), Retired Major General Ariel Caculitan and Retired General Isagani Perez as undersecretaries of Opama and Atty. Nesauro Firme as member of the Judicial Bar and Council representing the academe.

State funeral for FVR

MALACAÑANG also said a state funeral would be held for former President Fidel V. Ramos on August 9. “The state funeral is a right of the family of a deceased President, so yes, he will be accorded a state funeral with full military honors,” Cruz-Angeles said. However, Malacañang did not give any details on whether the President will be visiting the wake of the late former President. On Monday, President Marcos declared a 10-day period of national mourning from July 31 to August 9 following the death of FVR.

MMDA reroutes traffic in City of Manila to give way for Skyway Stage 3 build By Claudeth Mocon-Ciriaco @claudethmc3

PORTION of Tomas Claudio St. in Manila will be closed on Friday to give way to the Skyway Stage 3 construction, the Metropolitan Manila Development Authority (MMDA) announced on Wednesday. The MMDA said a portion of Tomas Claudio Street in Manila City will be temporarily closed to vehicular traffic starting 10 p.m. on Friday, August 5 until November 30. Affected motorists are advised to

take alternate routes. Traffic rerouting: For vehicles coming from Valenzuela Street, Sta. Mesa going to Quirino Avenue or Beata Street Pandacan: • Take Ramon Magsaysay Ave., turn left at Lacson Avenue (Nagtahan), straight ahead to Quirino Ave. or turn left at Jesus Street to destination For vehicles coming from Osmeña Highway going to Valenzuela Street, Sta. Mesa: • Straight ahead to Quirino Avenue to Mabini Bridge and to the bridge down ramp turn right at Ra-

mon Magsaysay Avenue, turn right at Valenzuela Street to destination. For vehicles coming from Osmeña Highway going to Beata Street, Pandacan • Straight ahead to Quirino Avenue, turn right at Tomas Claudio Street to destination For vehicles coming from Beata Street, Pandacan to Quirino Avenue: • Light vehicles: Take Tomas Claudio Street to Quirino Avenue to destination • Long and heavy trucks/trailers: Take Jesus Street to Quirino Avenue to destination.

Remulla to ICC: Please file your info request on anti-drugs war

HE Department of Justice (DOJ) on Wednesday assured it would be willing to cooperate and provide the International Criminal Court (ICC) information to prove that the justice system in the country is functioning. However, Justice Secretary Jesus Crispin Remulla said the information would only cover what the justice department have gathered and accomplished pertaining to the investigation and prosecution of cases involving anti-drug operations where deaths occurred from the time he assumed his post. Furthermore, Remulla said the ICC would also have to submit a request before it could be provided with

the information it needed. “Request would be appreciated, because why should we give away data to parties who are not interested in what we have to give. If they really want [some information] they just have to ask and we will give the information available at that time,” Remulla said at a news briefing. However, Remulla stressed that it would not be able to provide the ICC any information before the period of his appointment to his current office. “If you want the information for the last 11 years, because that is where it’s going to anyway, we cannot give it to them because we have been here in the office only for 39

days,” the DOJ chief said. Remulla also assured that the justice department would leave no stone unturned in its investigation into drug-related killings. In fact, he noted that the cases of 52 individuals covered by “Task Force 52 Nanlaban Cases” have also been acted upon by the justice department with the assistance of the National Bureau of Investigation (NBI). “The case build-up and prosecution have been completed for seven cases against PNP personnel. Cases for murder have been properly filed in the courts and we believe the evidence culled will be sufficient to hold them for conviction,” he said. Joel R. San Juan

Travelers blamed for entry delays House leader pitches food sovereignty bill amid global crises continued from a14

These agencies will absorb the functions and resources of the Agribusiness Group, the National Agribusiness Corporation, the Agricultural Credit Policy Council, the Quedarl and Rural Credit and Guarantee Corporation of the Philippines and the National Food Authority. Under the proposed set-up, the specialized functions are clearly identified, delineated and distributed among the appropriate agencies so as to avoid conflict-of-interest situations that have so often hamstrung past policy making and implementation. “In the Philippine countryside,

the government must confront the challenge to develop the market institutions that will put a stop to the massive waste of resources, bring productive inputs together, pave the way for more innovative modes of production and deliver our products to national, regional and international markets,” said Robes. Robes, who remains chairman of the House Committee on People’s Participation from the previous 18th Congress, said the proposed National Food Sovereignty Act is one of her 23 filed bills. “[I’m] committed to make the 19th Congress a very productive Congress

by passing these bills,” said Robes. Robes, meanwhile, also filed HB 1501, which instituting a re-employment program for retired employees and workers in the civil service and private sector and for other purposes; HB to establish a framework for citizens’ participation in legislation and rule-making through the use of information and communications technology platforms; HB 1509 to declare the city of San Jose Del Monte in the province of Bulacan as human resource capital; and HB 2904 to establish the Philippine Virology Science and Technology Institute. Jovee Marie N. Dela Cruz

BOQ also encouraged government agencies overseeing the return of overseas Filipinos and airlines to provide the exact link to the OHP site so travelers to the Philippines don’t get scammed by fraudulent web sites. Earlier, the Tourism Congress of the Philippines raised the matter of “proxy” OHP web sites to Tourism Secretary-designate Christina Garcia Frasco at a recent meeting. A number of travel agents have reported the scamming of some of their clients because of these fake sites. (See, “Foreign tourists warned on fake OHP site charging $75,” in the BusinessMirror, August 1, 2022.)

Scams continue

IN a Memorandum Circular No.

2022-12 dated July 29 reminded all BOQ stations, airline operators, overseas Filipino workers, returning overseas Filipinos, and concerned government agencies, Regional Task Forces of the National Task Force Covid-19, Salvador and BOQ Director IV Dr. Ferdinand S. Salcedo said, “to guide the passengers properly when they seek assistance, where to register. Do not just ask passengers to search ‘One Health Pass’ in their web browser but instead provide the proper link for registration by typing www.onehealthpass.com.ph because searching ONLY for the words ‘one health pass’ will also display the fake web sites which risks the passengers to mistakenly select these sites.” Among the fake web sites: www. philippines-cif.com, www.philip-

continued from a14

pines-healthpass.com, www.philippinesvisa.com, www.philippinesohp. com, www.onlinevisa.com /onehealth-pass-philippines/ BOQ said it has been constantly disseminating information about the correct URL link to the OHP site via web sites and social media accounts of member-agencies of the One Stop Shop for the Management of Returning Overseas Filipinos (OSS-MROF). The BOQ noted these fraudulent web sites charge anywhere from $49.99 to $95 to supposedly register a passenger arriving in the Philippines with the OHP. The BOQ reminded arriving passengers that registration to the OHP site is “free of charge and and does not require any form of payment.”

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SKYROCKETING SUGAR PRICES STOKE INDUSTRY LIBERALIZATION STAKES By Jasper Emmanuel Y. Arcalas @jearcalas, Cai U. Ordinario @caiordinario

& Jovee Marie N. Dela Cruz @joveemarie Reporters

Jovy Rodriguez

Lyceum of the Philippines University

ORON, Palawan and Manila— Many call it “dirty.” And they still eat it.

Just ask these fifty-something entrepreneurs: Zosimo and Nelson who know the dirty ice cream business like the back of their palms. But an essential ingredient—refined sugar—has brought bittersweet success to their business. Zosimo and Nelson shared that the price of refined sugar rose just as fast it melted their profits. The brothers said times have changed, indeed, since their father, Maximo Catapang, considered as the pioneering magso-sorbetes in the municipality of Coron, Palawan, gave birth to the enterprise a decade ago. The stainless steel-bodied carts of Catapang Dirty Ice Cream has been a staple across the streets of the town proper of this island municipality that is home to 65,000 people and an annual haven to over 200,000 tourists. They, however, may see fewer carts of this 1960sbuilt ice cream venture as the Catapangs said they are taking “drastic measures” to cope with Covid-19 and rising sugar prices and ensure the business survives. Nelson said they used to have seven carts. They trimmed this to two since the Duterte administration imposed mobility restrictions against Covid-19 in 2020. “Malaki na ang binawas.” He added they had to increase the boundary price collected from vendors from P2,500 to P2,600. Nelson said they have “measly” earnings because of the rising costs of everyday ingredients like sugar, ice and salt. The Catapang family business earns from a fixed boundary price that their street vendors remit to them. Zosimo said their daily income has now been slashed to P200 from P500. Their two operating dirty ice cream carts holding four gallons consume about four kilograms of refined sugar each. That is where it hits the most: Zosimo said a kilo of sugar that before cost P60—a dollar and a dime—now hits their pockets with P95, or nearly $2. This is being experienced not only by the Catapang family business.

Glazed, no caramel

THERE’S Medelyn Collorado, a street seller of “ banana-Q ,” short for two to three pieces of Musa saba bananas queued on a stick. Collorado said she had to cut the amount of sugar she uses: before the bananas were caramelized; these days they’re just glazed. She said before, daily sales hit 250 sticks at P10 each and they pocketed P870 ($15.61 at current exchange rates) cleanly. These d ays, t he 60 -yearold vendor

told the BusinessMirror, she’s only able to sell a hundred sticks at P15 each and takes home only P390 ($7) each day. Collorado said the price of brown sugar she uses in her banana cues have risen by half to P80 ($1.44) per kilogram from P40 kilogram ($0.72). This forced her to cut the brown sugar she uses to just 2 kilograms from 5 kilograms. T he cou nt r y ’s s u g a r (r aw, washed and refined) pr ices have i ncrea sed u nabated since September l a st yea r. In Metro Manila alone, the price of refined sugar has now averaged P90.85 ($1.63) per kilogram at supermarkets and P93 ($1.67) per kilogram at wet markets. Refined sugar prices in Metro Manila is now fetching as high as P115 ($2.06) per kilogram.

Odette’s impact

TO understand how sugar prices zoomed past the P100-per-kilogram level—the first in the Philippine history—we must go back to December 16, 2021, when Super Typhoon Odette (international name: Rai) hit the country. The sugarcane industry was estimated to have suffered P1.5-billion losses due to destroyed sugarcane and damaged sugar milling and refining facilities. The destruction and disruption came as the sugar milling season was peaking and refineries were just barely starting to operate. The aftermath of Odette was evident: prices of raw and refined sugar started to increase nationwide, especially in Metro Manila. Odette’s impact prompted officials to slash the total sugar production estimate for crop year (CY) 2021-2022 to 2.072 million metric tons (MMT) from 2.099 MMT pre-milling crop estimate. The sugar refineries association, meanwhile, revised its total refined sugar output to 837,400 MT from 878,600 MT The Department of Agriculture (DA) instructed the Sugar Regulatory Administration (SRA) to consult industry stakeholders on the probability of a sugar importation program. In a meeting last January, sugar producers to industrial users unanimously supported the proposed importation tack. However, the players debated the conditions and terms of the program, particularly on the eligible importers and arrival of shipments. Local sugar producers wanted importation to be limited to the estimated shortfall in supply and shipments arriving in tranches

after the milling season. In February, the SR A issued Sugar Order (SO) 3 that authorized the importation of 200,000-MT refined sugar for industrial users, with half of the volume being bottlers’ grade (for use by beverage makers). No one expected that the worse was about to happen after the issuance of SO 3.

Delayed implementation

HOW E V ER , s u g a r pro duce r s sought to stop SO 3 through the powers of the court, which issued two temporary restraining orders (TROs) and a writ of preliminary of injunction. After the SO 3 was stopped in its tracks, sugar prices began breaking all-time highs every week. Raw and refined sugar supply were outpaced by rising demand and total sugar production was not high as expected. T he final sugar production forecast of the SRA was further trimmed to just 1.928 MMT, the lowest level in more than a decade. Sugarcane yield also dropped due to the ill effects of a persistent La Niña phenomenon that affected plantations. By April, the SRA attempted to get a new sugar import program going with a higher volume of 350,000 MT, comprised of 250,00 MT refined sugar and 100,000 MT raw sugar to address the worsening supply shortfall. However, the new sugar import program did not f ly as the SR A resumed the implementation of SO 3 in May after it received a legal opinion from the Office of the Government Cor porate Counsel that SO 3 could still be implemented in other regions except Region VI, where the writ of injunction was issued. “So, SRA went ahead and implemented SO3, but the damage caused by the delay in its implementation was already done and is being felt now,” SRA Administrator Hermenegildo R. Serafica said in a 3-page statement last June. That month, the prices of refined sugar reached P90 per kilogram after breaking past the P70-per-kilogram mark in May. By July, refined sugar prices were as high as P115 per kilogram. The calculations and estimates of both the DA and SR A pointed to one scenario: the Philippines will run out of both raw and refined sugar this month.

Side by side neighbors’

TO see a “better” and “real” picture of the country’s sweetener industry situation, Monetary Board member V. Bruce J. Tolentino said local sugar prices must always be compared to the sugar prices of the Philippines’s neighbors like Vietnam and Thailand. If such is the benchmark, Tolentino pointed out, Philippine sugar prices have “undoubtedly” been more expensive than any other country for a long time now. The reason is simple, Tolentino says: the sugar industry has been “administratively” controlled to “protect” local growers even to the “detriment” of anybody who consumes sugar, both ordinary Fi l ipi no consu mers a nd food manufacturers.

“There are many food products in Thailand and Vietnam that contained sugar and yet they are cheap. Sugar is an input and therefore, the more expensive it is, the more expensive the product is,” Tolentino, a former agriculture undersecretary, told the BusinessMirror. And if it is up to Tolentino, the protected days of the sugar industry must now come to an end, just like the rice industry four years ago. “It should be opened like we how opened rice. Let us use the lessons from rice [trade liberalization] to deal with sugar [industry],” he said. “If we are consistent with the idea of having people with competitively priced food and we are committed to the growth of the manufacturing sector, then we should liberalize the sugar industry,” he added.

Profit margins

SUCH insights from Tolentino fail to assuage people like Danilo V. Fausto, president of the Philippine Chamber of Agriculture and Food Inc. (PCAFI). According to Fausto, their member-companies, which are food processors and exporters, are already “ hurting” from the high sugar prices. The affected export products include banana chips, biscuits, confectionary, Fausto warned that the expensive sugar would further erode the country’s competitive advantage in certain food exports, which is already threatened by stringent competition from neighboring Southeast Asian countries with cheaper raw ingredients and materials. “The price of imported sugar is 50-percent less than our local production. If you want to compete in the export market, you need to provide them with imported sugar–at least for processing of their products,” Fausto told the BusinessMirror. Roehlano M. Briones, senior research fellow at the Philippine Institute for Development Studies, said he was surprised when he found out that the country’s refined sugar is now the second most-expensive sweetener in the world next to Oman. Briones said Oman is a country that imports virtually all its sugar supply. He further said that the “unusually high” sugar prices would slash the profit margins of Filipino food exporters. “These are low-margin products. Even if you say sugar is only about 10 percent to 15 percent of production costs, if its price doubled, then it would eat into their margin,” Briones told the BusinessMirror.

Eye on SRA

TOLENTINO said libera lizing the sugar industry would mean removal of the quedan system that classifies and segmentizes the country’s sugar production according to a specific market. He argued that this classification makes sugar one of the most protected commodities in the country, with only a “favored” few benefitting from such system. In 2019, the National Economic and Development Authority (Neda) commissioned Brain Trust Inc. to conduct an assessment on the country’s sugar industry. At that time, talks and plans of sugar liberalization were at their height. The commissioned study showed that the SRA’s “tight control” over the sugar industry impeded its growth. The study outlined various regulations enforced by the SRA that included restrictions on interisland shipping of sugar, mandatory production-sharing arrangement between planters and millers, and mandatory quedan system that segmentizes the use of raw sugar. A key finding of the study was that liberalizaing sugar trade “appeared weak” back then, as it would only yield a modest net gain of about P2 billion. The study estimated that liberalizing the industry would slash the profits of sugarcane farmers and millers by 57 percent while “consumers gain in welfare” would increase by 65 percent.

Elite benefits

THE liberalization of the industry would result in a “society gain” of about P7 billion to P9 billion every year, according to the study. However, one concern rose: who would benefit the most? The study was clear: the rich more than the poor. The study estimated that the lowest income group in the country would gain P262 million while the richest income decile would benefit as much as P1.6 billion. “Should government wish to pursue sugar trade liberalization (even as the findings suggest that the case for it is weak at this time), it must be through a gradual easing of controls over sugar trade, to ensure that gains therefrom are equitable, and not unduly penalize the groups directly dependent on the sugar industry,” the study read. Nonetheless, the study gavee recommendations to improve the sugar industry. These include the phasing out of the segmentation of the sugar market allowing for a unified quedan or warehouse system. Other recommendations were

for the establishment of a tripartite price management system to curb monopsony and incentivizing investments in state-of-the-art milling technologies. Briones said they “were a bit more cautious in that study.” “I think the solution for the sugar industry right now is to accept the tariffication formula,” he told the BusinessMirror. Doing to learn ATENEO Eagle Watch Senior Fellow Leonardo A. Lanzona Jr. called the high price of sugar a “plague” to the country—even before the Covid-19 pandemic. Lanzona argued that the need to “open up” the country’s sugar market is to encourage competition and have a “more efficient” sugar industry. “The sugar industry should have liberalized a long time ago. The industry is one of the most inefficient as it continues to be protected,” Lanzona told the BusinessMirror. “There is a great potential in this industry for scale economies, but it needs to learn by doing if it is to take advantage of the existing technology.” He said both Filipino consumers and manufacturers will suffer the consequences of high sugar prices if the industry remains protected from foreign competition. Lanzona noted that the liberalization of the sugar industry shouldn’t be patterned, however, after the rice trade liberalization (RTL) law since the two commodities have different value chain structures. For example, there are a lot of small-scale farmers in the rice sector while players in the sugar industry are “large firms” that have “invested a lot of capital” for production, he explained. “The goal here is to allow more foreign investment to come, even including those who wish to stay here and start their own operation. Farmers who plant sugar can now sell them to these new firms,” he said. “It is not the same as rice where an inefficient NFA made it clear that importation is necessary. In this case, importation may not be the solution. The situation only needs a more efficient industry,” he added.

Joey’s views

ALBAY Rep. Joey Sarte Salceda, an economist, said that as a “progrowth” and “pro-consumer” policymaker, he is inclined toward the liberalization of the sugar industry. But not anytime soon. Salceda argued that given current global market conditions, the current difference between the local price and the landed cost of imported sugar is not “dramatic enough” for him to push for liberalization of the industry. Based Salceda’s estimates, the price gap between the prices of local and imported sugar is just about 6 percent or P3.85 per kilogram; this, compared to rice, which had a price differential of 16 percent in 2019 when the latter was liberalized. “If you import raw sugar, my estimates are that they would be just 6 percent cheaper because of tariffs and handling costs,” he said. “But at least, companies that

Editor: Dennis D. Estopace

have stopped producing certain sugar-dependent goods would be able to resume producing such goods; if buying sugar in bulk has become difficult. Then again, that request must come from sectors affected,” he added.

Abandoned by government

SALCEDA admitted the sugar industry must be liberalized in the future for the benefit of most of the Filipino people. But this admission came with a price: accepting that the government abandoned the sugar farmers, too. The lawmaker points to the ill implementation of earmarked funds for developing the sugar industry, like those under Republic Act (R A) 10659, or the Sugar Industry Development Act (SIDA), and the TR AIN law (R A 10963). “We also have sins against the local sugar industr y, mind you. T he TR A IN Act, for example, provides for sugar industr y development, but the SR A has not been able to utilize the funds well, so the DBM [Department of Bud get a nd M a n a ge me nt] has not allocated a significant amount of funds for local sugar development,” Salceda said. “In this particular case, there is government nonfeasance. So, we should try to solve that first before doing something that would hurt local industry,” he added. A portion of the collections f rom t he T R A I N L aw, wh ic h includes excise taxes on sugar sweetened beverages, should be allocated for various government measures including the P2-billion

TheBroaderLook BusinessMirror

programs under the SIDA Act of 2015, which aimed at developing the sugarcane industry and improving the lives of sugarcane farmers.

Step in right direction

FOR lawyer Roland B. Beltran, an incumbent Sugar Board member (representing the sugar millers), the productivity woes of the sugar industry could all be traced back to administrative “mismanagement.” Beltran was referring to the “bad” implementation of sugar industry development programs, especially those under the SIDA law. “The industry would not be in this situation if the projects prioritizing the improvement of the sugar industry were implemented properly. The sugarcane farmers need all the assistance today,” he told the BusinessMirror. Beltran thinks that President Ferdinand R. Marcos Jr.’s plan of revamping agricultural value chains to address their inequalities—from farmers to consumers—is a step in a right direction, particularly for sugarcane industry. Beltran emphasized, however, that any liberalization effort doesn’t bode well for the President’s vision of boosting domestic food production and fixing erratic value chains. “Sugar is not a sunset industry. I still have faith in the sugar industry given its resiliency. It will bounce back to its glory years as it had proven in the past and help perk up our economy,” he said. “It is like having a house. Why will you buy the furniture first

if you haven’t constructed your house?” he added. Since 2016, the SIDA has been marred by underspending and underutilization, earning the ire of lawmakers and policymakers. The SIDA Act mandated an annual P2-billion allocation for the implementation of four interventions: block farm programs; socialized credit; research and development; and, scholarship and infrastructure support. But the underspending and underutilization by SR A resulted in the annual slashing of the SIDA fund. During the 2019 budget deliberations, it was unearthed that the SIDA f und for 2020 could be only a measly P67 million, nowhere near the P2 billion mandated allocation, due to fund management issues. From 2017 to 2022, the budget of SIDA was never restored to P2 billion. Worse, the SIDA fund from 2019 to 2022 has been below P1 billion and averaged at P606.130 million, with certain components of the program suffering as they had zero budget allocation.

Probable volume

PUNDITS are unanimous in proposing that the short-term measure to temper skyrocketing sugar prices is to expand the current importation program. Industry sources and experts told the BusinessMirror that t he add it ion a l i mpor t f ig u re could range from 150,000 MT to as much as 350,000 MT. The DA and the SRA held its first of a series of stakeholders’

consultation last week to discuss the country’s current sugar supply situation. Agriculture officials are mum on the probable volume of the second round of sugar importation by the country pending the conclusion of the consultation with stakeholders and the physical inventory inspection of sugar mills and refineries nationwide. “I think what we are looking at is a seasonal shortage of market supply by as much as 43-percent lower than usual demand. I estimated by looking at the sales volumes of raw and refined sugar by sugar milling companies,” Salceda said. “They are able to sell much less, not because people are buying less, but because they do not have the supply, or so it seems. That is why we need the SR A audit to verify farmer claims that supply shouldn’t have collapsed by that much,” the lawmaker added.

Entrepreneurs’ woes

JOHN LLOYD ESPARAGUERRA, one of Catapang’s sorbetes vendors, shared that he used to take home P1,000 after a day’s work. Today, that amount could only be earned within two days to three days— rain or shine. However, Esparaguerra has to shoulder the P200 for ice and salt to keep the ice cream from melting. “Iyon ngang P200 pandagdag na sana na kita namin kaso no choice ka rin dahil matutunaw naman iyong ice cream kapag hindi bumili ng asin at yelo.” He explained to the BusinessMirror that he used to sell six

Thursday, August 4, 2022

scoops of dirty ice cream on a cone for P10 and eight scoops for P20. Today, he sells these for less a scoop at the same prices. “Yung dating 6 scoops ngayon 4 to 5 scoops na lang for P10, ‘yung dating 8 scoops ngayon 7 nalang for P20.” The Catapang brothers said they don’t see further increasing their boundary price any time sooner as there’s lackluster demand. They just wish the government would intervene in the high sugar prices and make the situation easier for vendors like them. Zosimo said there are rumors of hoarding, which should be looked into by government officials. “May nababalitaan akong hoarding; eh iyan dapat pakinggan ng gobyerno. Dapat iminimize nila iyong hoarding.” Collorado wishes that she, too, can just hold off price increases in the future. However, her hands would be forced to do so to make ends meet. If we do not increase our prices, nothing will happen to us, Collorado said in Filipino. You cannot even recoup your minimum labor, she added. Collorado said she’s now selling corn on the cob and drinks, aside from banana-Q. She also hopes the government would have projects to help vendors like her to clamber from usurious debts. Our capital is from 5-6; if we cannot pay daily, we must pay double in the following day, Collorado told the BusinessMirror. “Ganon talaga kakapit talaga kami sa patalim, ang hanap-buhay

talaga namin ngayon ay puro utang.”

Reckoning with liberalization

FORMER Tariff Commissioner George N. Manzano said the government may have to weigh a lot of factors in liberalizing the sugar industry: first, the displacement of sugar producers, and second, the current market environment amid the on-going Covid-19 pandemic. Manzano pointed out that “crafting” a policy on the sugar sector is “always complicated” since the price of sugar is “more distorted” compared to rice. The industry structure of sugar is different from rice since the former has been under a more stringent quantitative restriction regime, he added. “There are social costs to liberalize the industry as this will displace sugar producers as well as the farmers,” he said. “With the pandemic still in the air, it may not be prudent to create shocks through liberalization at the moment, in my opinion.” United Sugar Producers Federation (Unifed) President Manuel R. Lamata said liberalizing the sugar industry would easily “kill” it and would be a disaster for the Philippines in the long run amid global food security concerns. “Every country is holding on to what they use to export to protect their people. If you no longer have an industry to go back to, then our people won’t be able to eat anymore,” he told the BusinessMirror. “The high sugar prices is temporary; the cause of this is the deliberate mismanagement [by] the government.”

A6 A8

BusinessMirror

Thursday, August 4, 2022

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

3M SERVICE CENTER APAC, INC. 17th, 18th, 19th Floors, Bonifacio Stopover Corporate Center, 31st Street Cor., 2nd Avenue, Bonifacio Global City, City Of Taguig

HEO, SUJIN Buyer Analyst - Korean 1.

Brief Job Description: Perform simple to moderate transactional buying activities for a specific assigned country/ies, region or area.

Basic Qualification: Bachelor’s degree in any Business, Engineering, Finance or any related courses, 2-3years’ experience within Sourcing area or purchasing transactional activities, Knowledge in English and Korean language (Speaking, Reading, Writing and Listening skills) are required for this role. Salary Range: Php 30,000 - Php 59,999

KIM, GUNWOO Buyer Senior Analyst - Korean 2.

Brief Job Description: Perform moderate to complex transactional buying activities for a specific assigned country/ies, region or area.

LIM, YERIM Buyer Senior Analyst - Korean 3.

Brief Job Description: Perform simple to moderate transactional buying activities for a specific assigned country/ies, region or area.

Basic Qualification: Bachelor’s degree in any Business, Engineering, Finance or any related courses, 2-3years’ experience within Sourcing area or purchasing transactional activities, Knowledge in English and Korean language (Speaking, Reading, Writing and Listeningskills) are required for this role. Salary Range: Php 30,000 - Php 59,999

ACCENTURE, INC. 7f, Robinsons Cybergate Tower 1, Pioneer St, City Of Mandaluyong

DIKSHIT, GAURAV Hr Service Delivery Senior Manager

Brief Job Description: Deliver HR services to our people and business leads; execute performance achievement and rewards processes; oversee reporting and insights on metrics and trends impacting the business. Advise leadership on HR aspects of business strategies, issues and decisions; design and deliver HR programs

Basic Qualification: Complexity: degree of difficulty of an assignment or the level of problemsolving assessment and resolution required, as indicated by degree of problem-solving, strategic vs. Routine focus, and stakeholder interactions (e.g., executives, supervisor, etc.). Requires identifying and assessing complex problems for area(s) of responsibility. Salary Range: Php 150,000 - Php 499,999

No.

Brief Job Description: Capable of creatively developing and implementing strategic marketing plan for a category compromising of several brand portfolio mix

NISHIMURA, ERIKO Department Head For Information Technology 6.

Brief Job Description: Ensure at all time the company’s business continuity by managing the proper operations of all infrastructure such as networks, servers, data and business systems

SHIBUKI, KAZUAKI Department Head For Production Technology 7.

Brief Job Description: Oversee major facility improvement and renovation including new or extension of factories

Basic Qualification: Graduate of a 4 year degree from a reputable university, attended extensive trainings in brand development Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Graduate of a 4 year degree from a reputable university, attended extensive trainings in Information Technology with at least 14 years of work experience as consultant in an IT company Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Graduate of a 4 year degree from a reputable university preferably with Master’s Degree. At least 15 years work experience in production and technology for multinational food company

QIN, ZHILIANG Mandarin Language - Officer Marketing 12.

13.

IKEDA, RYO North Area Supervisor 8.

Brief Job Description: Analyze and create effective solutions for sales operations

14.

Brief Job Description: To assist customers regarding their queries, complaints, and promotions. KIM, SUNGCHE Customer Service Representative

10.

Brief Job Description: To assist customers regarding their queries, complaints, and promotions. MIN, DONGIL Customer Service Representative

15.

11.

Brief Job Description: To assist customers regarding their queries, complaints, and promotions.

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

No.

Brief Job Description: Responsible for the overall management of the daily activities of the operations team

Brief Job Description: Resolving all issues co-workers have with their IT system and software

27.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluently speak and write Vietnamese language to cater foreign markets.

HSIEH, CHENG-TSE Process Specialist - Voice 16.

Brief Job Description: Service Support Solutions includes diagnosis, resolution, and reporting of customer issues and questions

MASE, KENTO Deputy Representative 28.

Basic Qualification: Knowledge and experienced in BPO operations

17.

18.

19.

Brief Job Description: Prepare airline and custom documentations. SHI, NENGTUAN Chinese Cargo Office Agent Brief Job Description: Prepare airline and custom documentations. SU, XINXING Chinese Cargo Office Agent Brief Job Description: Prepare airline and custom documentations. YAN, BAOCAI Chinese Cargo Office Agent

20.

21.

Brief Job Description: Prepare airline and custom documentations. ZHANG, LIQUN Chinese Cargo Office Agent Brief Job Description: Prepare airline and custom documentations.

22.

Brief Job Description: To Direct all activities in the facility necessary to operate and support the produce warehouse at maximum efficiency YANG, LIN General Affairs Supervisor

23.

Brief Job Description: Plans, directs organizes and controls the overall activities of General Affairs Section including Employee Services, Safety and Security

CHENG, JILIN Hub Qc Manager 24.

Brief Job Description: To manage, oversee and direct all aspects of the hub’s operation including letting, memberships, finance, sales, marketing and events

LIU, CHEN Network Manager 25.

Brief Job Description: To review and assign work orders and trouble tickets and assisting in the workflow of team.

WU, XINGHUI People Business Partner Specialist 26.

Brief Job Description: Ensure the partnership needs of the company are being met, with a long-term talent strategy in mind

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

Brief Job Description: Promote and monitor ongoing projects (project management) and to address issues/problems by recommending solutions

Basic Qualification: University graduate with a bachelor’s degree. Fluent in Japanese and English (verbal and written). Preferably with sales and marketing experience for more than 5 years Salary Range: Php 60,000 - Php 89,999

IDINSIGHT PHILIPPINES INC. 3/f Molave Bldg., 2231 Chino Roces Ave., Bangkal, City Of Makati CHITRAKA, ADITI Junior Economist

Basic Qualification: Bachelor’s and/or Master’s degree: 2+ years of relevant work experience preferred: significant experience

29.

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

JIANGSU DIBANG CONSTRUCTION PHILIPPINES CORPORATION Unit 2106-a West Tower, Psec Exchange Road, Ortigas Center, San Antonio, City Of Pasig

Basic Qualification: BA or BS degree, Native Mandarin Speaker

30.

31.

LIN, CHIA-HSUAN Chinese Customer Service Representative 32.

Basic Qualification: Knowledgeable in Chinese documentation. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Chinese documentation. Salary Range: Php 30,000 - Php 59,999

33.

34.

Basic Qualification: 5-10 years’ work experience in supervisory position, jobrelevant degree, Multi-lingual

Brief Job Description: Maintains financial account, recommend potential products and services; attracts potential to a customer’s Provide daily support of various computer systems including answering questions, analyzing problems, and quickly forming solutions to return systems to proper operation.

WANG, XUECHAO Compliance Officer / Customer Service Manager 35.

Brief Job Description: Be in charge of all aspects of customer relationships with clients while simultaneously maintaining support relationships ZHANG, HAN Compliance Officer / Mandarin Account Manager

36.

Brief Job Description: Is required to maintain all Account relationships with all existing and new clients all in coordination with colleagues and partners in China and Taiwan

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 5-10 years’ work experience in supervisory position, jobrelevant degree, Multi-lingual

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

GAO SHOU TECHNOLOGY MANAGEMENT, INC. 52/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in English, both verbal and written; with working knowledge in construction. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for; fluent in chines/mandarin is an advantage. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: - Atleast 19y/old - Ability to speak write and communicate in Chinese mandarin Salary Range: Php 30,000 - Php 59,999

Basic Qualification: - Atleast 19y/old - Ability to speak write and communicate in Chinese mandarin Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Must work well under pressure, be able to juggle many projects simultaneously, Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must work well under pressure, be able to juggle many projects simultaneously and have excellent interpersonal and communication skills Salary Range: Php 30,000 - Php 59,999

ZHANG, GUOYU Compliance Officer / Mandarin Marketing Manager 37.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 5-10 years’ work experience in supervisory position, jobrelevant degree, Multi-lingual

Basic Qualification: Fluent in English, both verbal and written; with working knowledge in construction.

MD HVAC (PHILIPPINES) CORPORATION Unit 1407 The Trade And Financial Tower, 7th Avenue Corner 32nd Street Bonifacio Global City, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: 5-10 years’ work experience in supervisory position, jobrelevant degree, Multi-lingual

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

Basic Qualification: 5-10 years’ work experience in supervisory position, jobrelevant degree, Multi-lingual

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

SHAO, CHIEN-CHUAN Chinese Customer Service Representative

Basic Qualification: Knowledgeable in Chinese documentation.

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

Brief Job Description: Monitor all site safety and legal requirements; review project proposals and plans to develop project objectives.

Salary Range: Php 90,000 - Php 149,999

JIU ZHOU TECHNOLOGIES INTERNATIONAL, INC. U-3401 34/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

Basic Qualification: Knowledgeable in Chinese documentation. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Monitor all site safety and legal requirements; review project proposals and plans to develop project objectives. ZHUO, YIYING Mandarin Speaking Project Design Specialist

Basic Qualification: Knowledgeable in Chinese documentation. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Primary role will be coding in Stata and/or R, and ensuring the quality of research design, implementation and outputs. Depending on the projects, the Junior Economist may be responsible for any of the following activities: evaluation design

LUO, DAN Mandarin Speaking Project Design Specialist

Salary Range: Php 90,000 - Php 149,999

FLASH EXPRESS SOFTWARE (PH) CO., LTD. INC. 11/f Cybersigma, Lawton Ave., Mckinley West, Fort Bonifacio, City Of Taguig VU NGUYEN TUYET TRANG Assistant To Warehouse Operations Deputy Director

Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for, fluent in Chinese Mandarin is an advantage.

Basic Qualification: Fluent in Mandarin and English with good communication skills and preferably 5 years of experience as Chinese speaking IT specialist

DEXIN INTERNATIONAL IMPORT AND EXPORT CORP. Lot 3 E&e Cmpd., F. Santiago St., Parada, City Of Valenzuela LIN, HUAYU Chinese Cargo Office Agent

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

QUALIFICATION AND SALARY RANGE

HANKYU HANSHIN PROPERTIES CORP. - PHILIPPINE REPRESENTATIVE OFFICE 27/f & 28/f Tower 2, The Enterprise Centre Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

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

Salary Range: Php 500,000 and above

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

WONGSASIRIROTE, NATTHAPAPHATS Thai Customer Service Representative

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig

Basic Qualification: 21 years old and above, fluent in Korean language.

Brief Job Description: Create specific promotions for affiliates.

MA, JICHANG Chinese Speaking It Specialist

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

HOANG KIM NGOC NHI Vietnamese Language - Officer Marketing

Basic Qualification: Degree holder, fluently speak and write mandarin language.

CHINA COMMUNICATIONS SERVICES PHILIPPINES CORPORATION 21st Floor Menarco Tower, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

Basic Qualification: 21 years old and above, fluent in Korean language.

Brief Job Description: Create specific promotions for affiliates, develop rapport with the customer.

CARNEY, SEAN BRIAN Executive Vice President- Operations

ASIAN TECHNOLOGY SERVICES, INC. 11/f Tower 2, Double Dragon, Macapagal Blvd., Barangay 76, Pasay City CHA, DONGWON Customer Service Representative

QUALIFICATION AND SALARY RANGE

C3/CUSTOMERCONTACTCHANNELS PHILIPPINES LTD. 11/f, 17/f, 18/f, 19/f, 20/f Bonifacio One Technology Tower, 3030 Rizal Drive Cor. 31st St. Bgc, Fort Bonifacio, City Of Taguig

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Graduate of a 4 year degree from a reputable university, attended extensive trainings on sales and marketing

ESTABLISHMENT / ADDRESS

BIGCAT SOFTWARE SOLUTIONS, INC. 18/f Pbcom Tower, 6795 Ayala Avenue Cor. Rufino Street, Salcedo Vill., Bel-air, City Of Makati

AJINOMOTO PHILIPPINES CORPORATION 11th Floor, V Corporate Centre, 125 L.p. Leviste Street, Bel-air, City Of Makati KYOYA, KAZUKI Category Manager

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Brief Job Description: Is required to provide leadership of all Marketing activities in order to gain new customers

HUANG, YAYUE Treasurer/mandarin Operations Manager 38.

Brief Job Description: Is required to assist in providing leadership and strategic direction

Basic Qualification: 2 Year Programming, Marketing, Operation Specialist and Human Relations, and Administrative is preferred. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bi-lingual is a requisite. Fluent in Cantonese, Taiwanese and Mandarin language. Salary Range: Php 30,000 - Php 59,999

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

39.

40.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION PHONE MYINT AUNG Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires SOE NAING Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires CUI, SHAOJIE Chinese Customer Service Representative

41.

42.

43.

44.

45.

46.

Brief Job Description: Managing incoming calls and customer service inquires. JIN, DONGMING Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires ZHAI, QIANGJIAN Chinese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires ZOU, ZHONGHUI Chinese Customer Service Representative Brief Job Description: Managing Incoming calls and customer service inquires. NGUYEN DUC HOANG Customer Service Representative Brief Job Description: Customer service

NGUYEN HUNG CUONG Customer Service Representative Brief Job Description: Customer service NGUYEN HUU NGOC Customer Service Representative

47.

Brief Job Description: Customer service

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

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

48.

49.

50.

51.

52.

53.

Brief Job Description: Customer service

NGUYEN NAM PHUONG Customer Service Representative Brief Job Description: Customer service

NGUYEN THI HIEN Customer Service Representative Brief Job Description: Customer service

NGUYEN THI LY Customer Service Representative Brief Job Description: Customer service

NGUYEN THI MY THANH Customer Service Representative Brief Job Description: Customer service

NGUYEN THI NAM Customer Service Representative Brief Job Description: Customer service NGUYEN THI THUY DUNG Customer Service Representative

54.

55.

56.

57.

58.

59.

60.

Brief Job Description: Customer service

PHAM LE THANH TRUNG Customer Service Representative Brief Job Description: Customer service.

PHAM THE DUYET Customer Service Representative Brief Job Description: Customer service.

QUACH THI TAN Customer Service Representative Brief Job Description: Customer service.

SAM VAN SANG Customer Service Representative Brief Job Description: Customer service.

THANG VAN LONG Customer Service Representative Brief Job Description: Customer service.

TRAN BAO LONG Customer Service Representative Brief Job Description: Customer service.

61.

62.

Basic Qualification: Able to speak, read, and write chinese language. Salary Range: Php 30,000 - Php 59,999

63.

Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to Speak, Read, and Write Chinese Language

64.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, read, and write Chinese language.

65.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999

66.

TRAN THI MINH YEN Customer Service Representative Brief Job Description: Customer service.

TRAN VAN THE Customer Service Representative Brief Job Description: Customer service.

VU MINH ANH Customer Service Representative Brief Job Description: Customer service. YATI Indonesian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires WONG KEAN HOW Malaysian Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires

LI, BOWEN Chinese Customer Service 67.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

LIU, YANJUN Chinese Customer Service 68.

Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

MA, XIN Chinese Customer Service 69.

Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents. WANG, PENG Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English

Brief Job Description: Customer service.

70.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

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

YE, SHIHAI Chinese Customer Service

Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

71.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English

ZUO, ZHIQIANG Chinese Customer Service 72.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English

LI SAUNG HONG Myanmari Customer Service 73.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English Salary Range: Php 30,000 - Php 59,999

74.

75.

Salary Range: Php 30,000 - Php 59,999 76.

Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English. 77.

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

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

HOANG MANH CUONG Vietnamese Customer Service

Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

DOAN TRONG KIEN Vietnamese Customer Service

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

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents. ZAY YAR MYINT Myanmari Customer Service

Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents. YEE MON KYAW Myanmari Customer Service

Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

LUONG THI CHAM Vietnamese Customer Service 78.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English. Salary Range: Php 30,000 - Php 59,999

No.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English)

VAY LAM PHAT Vietnamese Customer Service 79.

Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English)

VU XUAN TRUONG Vietnamese Customer Service 80.

Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language)

VY HONG HANH Vietnamese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English.

81.

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

PHILIPPINES E-SKY COMMUNICATION INC. Unit E-1905a East Tower, Psec Exchange Road, Ortigas Center, San Antonio, City Of Pasig

Basic Qualification: Able to Speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

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

Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English)

82.

83.

84.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999

85.

Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English) Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English) Salary Range: Php 30,000 - Php 59,999

Basic Qualification: At least 5 years of experience with all telecommunications systems.

Brief Job Description: Managing, supervising and providing technical advice on telecommunications systems.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least 5 years of experience with all telecommunications systems.

Brief Job Description: Managing, supervising and providing technical advice on telecommunications systems.

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

Basic Qualification: Bachelor Graduate

Brief Job Description: Developing and executing the company’s business strategies

Salary Range: Php 90,000 - Php 149,999

TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre, Adb Avenue, Ortigas Center, San Antonio, City Of Pasig AKEMTEU, AICHETOU French Business Process Outsourcing Bpo Representative V 86.

Brief Job Description: Provides the company team members and vendors with French/English support on all invoices or payment issues. NISHIMWE, HAPPY INES French Operations Csr Iii

87.

88.

Basic Qualification: Proficiency in the French Language and invoice or payment support system. Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Skilled in French Language

Brief Job Description: Provides expedient and accurate customer service to French Speaking clients and customers

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

HAN, HYOJONG Korean Operations Csr Ii

Basic Qualification: Skilled in French Language

Brief Job Description: Provides expedient and accurate customer service to French Speaking clients and customers

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

ZAPPORT SERVICES, INC. 36/f Burgundy Corporate Tower, 252 Sen. Gil J. Puyat Ave., Pio Del Pilar, City Of Makati BERTUS CALVIN Indonesian-speaking Customer Service Officer 89.

Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language) Salary Range: Php 30,000 - Php 59,999

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

TAKAHASHI, TAISUKE Managing Director

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language)

Brief Job Description: Managing, supervising and providing technical advice on telecommunications systems.

RIZE SYSTEMS, INC. 23rd/f Tower 6789 ,, 6789 Ayala Avenue,, Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language)

Basic Qualification: At least 5 years of experience with all telecommunications systems.

TONG, MINGJIE Telecommunications Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Preferably 1 year experience in the same field, Speaks and write (Native Language)

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

FANG, WEN Telecommunications Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1 year experience in the similar field, speak and write fluently (native language & English)

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file documents.

CAO, BINGAN Telecommunications Specialist

Basic Qualification: Able to Speak, Read, and Write Chinese Language

NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f, Pearl Marina Building Pacific Drive, Don Galo, City Of Parañaque

Basic Qualification: College Graduate/Level, and Fluent in Mandarin/Basic English

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TRAN LOC NHUNG Customer Service Representative

Basic Qualification: Able to Speak, Read, and Write Chinese Language

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

NGUYEN MINH HIEU Customer Service Representative

No.

Thursday, August 4, 2022

Brief Job Description: Indonesian written reports on a daily operation of call center activities performing customer-oriented telephone activities and various background operation duties.

FENY Indonesian-speaking Customer Service Officer 90.

Brief Job Description: Indonesian written reports on a daily operation of call center activities performing customer-oriented telephone activities and various background operation duties.

Basic Qualification: Indonesian speaking and written. Salary Range: Php 30,000 - Php 59,999

ZIMI TECH, INC. 29th/f Burgundy Corporate Tower 252, Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati

RAYMOND HOGAN Bahasa Language Customer Service Representative 91.

Brief Job Description: Professionally handle incoming requests from customers and ensure that issues are resolved both promptly and thoroughly

Basic Qualification: Proficient in Writing, Reading and Speaking in Both English and Korean/Bahasa/Chinese/ Vietnamese/Malaysian/ Cambodian Salary Range: Php 30,000 - Php 59,999 *Date Generated: Aug 3, 2022

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

TheWorld BusinessMirror

A10 Thursday, August 4, 2022

Pelosi says US will not abandon Taiwan as China protests visit By Huizhong Wu

The Associated Press

AIPEI, Taiwan—US House Speaker Nancy Pelosi, meeting leaders in Taiwan despite warnings from China, said Wednesday that she and other members of Congress in a visiting delegation are showing they will not abandon their commitment to the self-governing island.

“Today the world faces a choice between democracy and autocracy,” she said in a short speech during a meeting with Taiwan’s President Tsai Ing-wen. “America’s determination to preserve democracy, here in Taiwan and around the world, remains ironclad.” China, which claims Taiwan as its territory and opposes any engagement by Taiwanese officials with foreign governments, announced multiple military exercises around the island and issued a series of harsh statements after the delegation touched down Tuesday night in the Taiwanese capital Taipei. Taiwan decried the planned actions. “Such an act equals to sealing off Taiwan by air and sea…and severely violates our country’s territorial sovereignty,” said Captain Jian-chang Yu at the National Defense Ministry’s media briefing Wednesday morning. Pelosi’s trip has heightened USChina tensions more than visits by other members of Congress because of her high-level position as leader of the House of Representatives. She is the first speaker of the house to come to Taiwan in 25 years, since Newt Gingrich in 1997.

Tsai, thanking Pelosi for her decades of support for Taiwan, presented the speaker with a civilian honor, the Order of the Propitious Clouds. “Facing deliberately heightened military threats, Taiwan will not back down,” Tsai said. “We will firmly uphold our nation’s sovereignty and continue to hold the line of defense for democracy.” Tsai later said in a news conference, “Military exercises are unnecessary responses.” Shortly after Pelosi landed, China announced live-fire drills that reportedly started Tuesday night, as well as a four-day exercise beginning Thursday in waters on all sides of the island. China’s air force also flew a relatively large contingent of 21 warplanes, including fighter jets, toward Taiwan. Pe losi add ressed B eiji ng ’s threats, saying that she hopes it’s clear “while China has stood in the way of Taiwan going to certain meetings, that they understand they will not stand in the way of people coming to Taiwan as a show of friendship and of support.” Pelosi noted that support for Taiwan is bipartisan in Congress

IN this photo released by the Taiwan Presidential Office, US House Speaker Nancy Pelosi, center left, and Taiwanese President Tsai Ing-wen arrive for a meeting in Taipei, Taiwan, on Wednesday, August 3, 2022. Nancy Pelosi, meeting top officials in Taiwan despite warnings from China, said Wednesday that she and other congressional leaders in a visiting delegation are showing they will not abandon their commitment to the self-governing island. TAIWAN PRESIDENTIAL OFFICE VIA AP

and praised the island’s democracy. She stopped short of saying that the US would defend Taiwan militarily, emphasizing that Congress is “committed to the security of Taiwan, in order to have Taiwan be able to most effectively defend themselves.” Her focus has always been the same, she said, going back to her 1991 visit to Beijing’s Tiananmen Square, when she and other lawmakers unfurled a small banner supporting democracy, two years after a bloody military crackdown on protesters at the square. That visit was also about human rights and what she called dangerous technology transfers to “rogue countries.” Pelosi is visiting a human rights museum in Taipei that details the history of the island’s martial law era later Wednesday before she departs for South Korea, the next stop on an Asia tour that also includes Singapore, Malaysia and Japan. Pelosi, who is leading the trip with five other members of Congress, met earlier Wednesday with representatives from Taiwan’s legislature.

“Madam Speaker’s visit to Taiwan with the delegation, without fear, is the strongest defense of upholding human rights and consolidation of the values of democracy and freedom,” Tsai Chi-chang, vice president of Taiwan’s legislature, said in welcome. The administration of US President Joe Biden has sought to tone down the volume on the visit, insisting there’s no change in America’s longstanding “one-China policy,” which recognizes Beijing but allows informal relations and defense ties with Taipei. Pelosi said her delegation has “heft,” including Gregory Meeks, chair of the House Foreign Affairs Committee, and Raja Krishnamoorthi from the House Intelligence Committee. She also mentioned Rep. Suzan DelBene, whom Pelosi said was instrumental in the passage of a $280 billion bill aimed at boosting American manufacturing and research in semi-conductor chips—an industry in which Taiwan dominates that is vital for modern electronics. Reps. Andy K im and Mark Takano are also in the delegation.

China blocks some Taiwan imports but avoids semiconductor disruption By Joe Mcdonald

AP Business Writer

EIJING—China blocked imports of citrus and fish from Taiwan in retaliation for a visit by Nancy Pelosi, a top American lawmaker, to the self-ruled island but has avoided disrupting one of the world’s most important technology and manufacturing relationships. The two sides, which split in 1949 after a civil war, have no official relations but multibillion-dollar business ties, especially in the flow of Taiwanese-made processor chips needed by Chinese factories that assemble the world’s smartphones and other electronics. They built that business while Beijing threatened for decades to enforce the ruling Communist Party’s claim to the island by attacking. Two-way trade soared 26 percent last year to $328.3 billion. Taiwan, which produces half the world’s processor chips and has technology the mainland can’t match, said sales to Chinese factories rose 24.4 percent to $104.3 billion. “The global economy cannot function without chips that are made in either Taiwan or China,” said Carl B. Weinberg of HighFrequency Economics in a report. On Wednesday, Beijing blocked imports of citrus fruits and frozen mackerel from Taiwan after Pelosi, speaker of the House of Representatives, arrived in Taiwan late Tuesday. But the ruling party avoided disrupting the flow of chips and other industrial components, a step that would send shock waves through the shaky global economy. Beijing also announced four days of military exercises with artillery fire in waters around Taiwan. That might delay or disrupt shipping to and from the island, one of the

CUSTOMERS buy fruit at a stall in Taipei, Taiwan, on September 20, 2021. China has blocked imports of citrus and fish from Taiwan in retaliation for a visit to the self-ruled island by a top American lawmaker but avoided sanctions on Taiwanese processor chips for Chinese assemblers of smartphones and other electronics, a step that would send shockwaves through the global economy. AP/CHIANG YING-YING biggest global traders. The potential disruption adds to concerns over weakening global economic growth, but Asian stock markets rose Wednesday after there was no immediate sign of Chinese military action. The Communist Party says Pelosi’s visit might embolden Taiwan to make its decadesold de facto independence permanent. Beijing says that would lead to war. The administration of US President Joe Biden has sought to tone down the volume on the visit, insisting there’s no change in America’s longstanding “one-China policy,” which recognizes Beijing but allows informal relations and defense ties with Taipei. Meeting leaders in Taiwan, Pelosi said she and other members of Congress in a visiting delegation were showing they will not abandon their commitment to the self-

governing island. “America’s determination to preserve democracy, here in Taiwan and around the world, remains ironclad,” Pelosi said in a short speech during a meeting with Taiwan’s President Tsai Ing-wen. “Facing deliberately heightened military threats, Taiwan will not back down,” Tsai said. The ban on imports of citrus fruits and frozen mackerel will hurt suppliers seen as Tsaí’s supporters. Taiwan plays an outsize role in the chip industry for an island of 15 million people, accounting for more than half the global supply. I t s p r o d u c e r s i n c l u d i n g Ta i w a n Semiconductor Manufacturing Corp. make the most advanced processors for smartphones, tablet computers, medical devices and other products. Taiwan says chip sales to China

factories rose 24.4 percent last year to $104.3 billion. Beijing has invested billions of dollars in developing its own industry, which supplies low-end chips for autos and appliances but cannot support the latest smartphones, tablet computers, medical devices and other products. Chips are China’s biggest import at more than $400 billion a year, ahead of crude oil. That concentration has fueled concern in the United States and Europe about relying too heavily on supplies that might be disrupted by conflict. The US government is trying to expand its domestic chip production capacity. Overall, China is Taiwan’s biggest trading partner, taking more than twice as much of its exports as the United States, the island’s No. 2 foreign market. Beijing has tried to use access to its markets to undermine Tsai and other Taiwanese leaders it accuses of pursuing independence. The customs agency blocked imports of cookies and other food products from more than 100 Taiwanese suppliers on Monday ahead of Pelosi’s visit, according to the Global Times and other Chinese news outlets. There was no official announcement. The Communist Party also has used military action in the past to try to hurt Taiwanese leaders by disrupting the island’s economy. The mainland tried to drive voters away from then-President Lee Teng-hui ahead of the island’s first direct presidential elections in 1996 by firing missiles into shipping lanes. That forced shippers to cancel voyages and raised insurance costs but backfired by allowing Lee to brag about standing up to Beijing in front of cheering supporters. Lee won the four-way election with 54 percent of the vote.

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

US, Indonesia hold joint military exercises amid China concerns By Niniek Karmini The Associated Press

A K A R TA , I nd o ne s i a —T he United States and Indonesian militaries began annual joint combat exercises Wednesday on Indonesia’s Sumatra island, joined for the first time by participants from other partner nations, signaling stronger ties amid growing maritime activity by China in the Indo-Pacific region. More than 5,000 soldiers from the US, Indonesia, Australia, Japan and Singapore were participating in this year’s exercises, making them the largest since the drills were established in 2009. The exercises are designed to strengthen interoperability, capability, trust and cooperation in support of a free and open Indo-Pacific, the US Embassy in Jakarta said in a statement. “It’s a symbol of the US-Indonesia bond and the growing relationship between land forces in this consequential region,” Gen. Charles Flynn, Commanding General of US Army Pacific, said in the statement. “Because land forces are the glue that binds the region’s security architecture together.” Flynn and Indonesia’s Military Chief Gen. Andika Perkasa opened the joint drills with a ceremony on Wednesday morning in Baturaja, a coastal town in South Sumatra province. The exercises will last until August 14, encompassing army, navy, air force and marine drills. The planned two-week drills opened after China’s Defense Ministry said Tuesday night it would conduct a series of targeted military operations to “safeguard national sovereignty” in response to US House Speaker Nancy Pelosi’s visit to self-governed Taiwan, which China claims as part of its territory to be annexed by force if necessary. China has also been increasingly assertive over its claim to virtually the entire South China Sea.

US Gen. Mark Milley, chairman of the Joint Chiefs of Staff, said the number of intercepts by Chinese aircraft and ships in the Pacific region with US and other partner forces has increased significantly over the past five years, and the number of unsafe interactions has risen by similar proportions. “The message is the Chinese military, in the air and at sea, have become significantly more and noticeably more aggressive in this particular region,” Milley said last month during a trip to the Indo-Pacific that included a stop in Indonesia. Milley said Indonesia is strategically critical to the region and has long been a key US partner. Earlier this year, the US approved a $13.9 billion sale of advanced fighter jets to Indonesia. And in Jakarta last December, Secretary of State Antony Blinken signed agreements for enhanced joint naval exercises between the US and Indonesia. While Indonesia and China enjoy generally positive ties, Jakarta has expressed concern about Chinese encroachment on its exclusive economic zone in the South China Sea, which China claims virtually in its entirety. The US-Indonesia military exercises coincided with Pelosi’s arrival in Taiwan late Tuesday, as the highest-ranking American official in 25 years to visit the self-ruled island. Beijing views visits by foreign government officials as recognition of the island’s sovereignty. Japan’s Ground Self-Defense Force is participating for the first time in the exercises, saying it promotes a “free and open” IndoPacific vision of security and trade with the US and other democracies in the region. The expanded drills are seen by China as a threat. Chinese state media have accused the US of building an Indo-Pacific alliance, similar to Nato, as a means to intentionally provoke conflict.

TURKISH INFLATION HIT 80% IN JULY AND HAS YET TO PEAK By Beril Akman

URKISH inflation accelerated again and may be months away from peaking, soaring to levels unseen since the aftermath of the Asian financial crisis in 1997 as the central bank sticks with its ultra-loose monetary course. The upward march of consumer prices has already forced officials and economists to rewrite forecasts multiple times this year, as efforts to stabilize the lira falter at a time when Russia’s invasion of Ukraine is boosting the cost of everything from food to energy. Data on Wednesday showed that annual inflation sped up to 79.6 percent last month from 78.6 percent in June, gaining slightly less than forecast by economists in a Bloomberg survey. Istanbul, Turkey’s most populous city, saw price growth exceed 99 percent in July from a year earlier. Even in a world consumed by the fastest inflation in decades, Turkey is an outlier that ranks behind only a handful countries like Zimbabwe, Venezuela and Lebanon, where the pace of price increases has already topped triple digits. Loosening inflation’s grip is proving harder to achieve in Turkey because the central bank has refrained from raising its key rate from 14 percent under pressure from President Recep Tayyip Erdogan. The Turkish leader believes—contrary to mainstream economics—that higher rates cause faster inflation. “We see no signs of a stabilization in the macroeconomic environment for Turkey arising from the current unorthodox macroeconomic policy settings and recommend refraining from investing in Turkish assets,” said Nenad Dinic, emerging markets equities strategist at Bank Julius Baer. The approach has put Turkish policy makers out of sync with the most aggressive global monetary tightening since the 1980s

and pushed the country’s rates deeply below zero when adjusted for prices. “Unanchored expectations and a weakening lira are feeding further into prices. We don’t expect the central bank to tighten interest rates in response to ever rising inflation—instead, the political leadership is calling for even lower rates,” said Selva Bahar Baziki, Bloomberg’s Turkey economist. Erdogan is intent on keeping the economy powering ahead at a rapid clip ahead of elections scheduled for next June, even as the run-up in consumer costs eats into disposable incomes and threatens his popularity. Speaking last week, central bank Governor Sahap Kavcioglu sounded confident that the so-called new economy model that prioritizes production, exports and employment will help stabilize prices and the lira. Turkish authorities have instead relied on macroprudential measures like curbing commercial loan growth as well as policies aimed at widening the use of the local currency and channeling capital toward long-term investment. The results are playing out in the currency market, with the lira down more than a quarter of its value against the dollar, this year’s biggest loss in emerging markets.

Looming risks

THE worst of the crisis is probably still ahead. Price growth is set to peak around 85 percent in September-October, according to a forecast range chart accompanying the central bank’s latest inflation report. The bank’s projection now shows inflation will end the year at 60.4 percent, an upward revision of almost 18 percentage points that puts prices 12 times above the target. That outlook is still upbeat relative to the views in the market. Bloomberg Economics predicts inflation will reach a high of 91 percent in the third quarter and only slow to 69 percent at the end of 2022. Bloomberg News

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Thursday, August 4, 2022 A11

PhilRice: Free inbred seeds boosted rice yield By Jasper Emmanuel Y. Arcalas @jearcalas

ARMERS who received and used the free inbred rice seeds from the government improved yield by 15.7 percent to 4.2 metric tons per hectare (MT/ha), the Philippine Rice Research Institute (PhilRice) said. Phi lR ice said its monitoring showed that yields improved steadily to 4.2 MT/ha in the 2022 dry season from 3.63 MT/ha in the 2019 dry season. “For the wet season, yield increased from 3.69 [MT/ha] in the 2019 wet season to 4.03 [MT/ha] in the 2021 wet season,” the agency attached to the Department of Agriculture (DA) said in a statement on Wednesday. PhilRice said about 98 percent of the farmer-beneficiaries under the inbred rice seed component of the Rice Competitiveness Enhancement Program (RCEP) planted the

seeds within the actual season they received their provision. “In close coordination with our partner-local government units, we carefully plan the seed delivery schedule in every city and municipality,” said Flordeliza Bordey, head of the DA-PhilRice RCEF Program Management Office. “This made seed distribution activities timely based on the planting period of various localities.” PhilRice said it has distributed over 10 million bags of certified inbred seeds to about 1 million farmers from the 42 target provinces under RCEP. About 1.5 million hectares of farms are planted with RCEP inbred seeds annually. “As of July, 1.57 million bags were distributed to more than 630,000 farmers in 731 cities and municipalities, with an estimated area coverage of 720,000 hectares for 2022 wet cropping season.” The agency said the adoption rate among RCEP inbred rice seed

FARMERS in two Aklan towns received free certified inbred rice seeds from the Rice Competitiveness Enhancement Fund-Seed Program through Binhi e-Padala, a digital voucher system. PHOTO FROM WWW.PHILRICE.GOV.PH

beneficiaries of the certified seeds rose to 84 percent in the 2021 wet season from 48 percent in the 2019 wet season or prior to the program’s implementation. PhilRice is the mandated agency to implement the annual P3-billion inbred rice seed component of the P10-billion RCEP, which was cre-

ated by Republic Act 11203 or the rice trade liberalization law. The 42 provinces that benefit from the RCEP inbred rice seed program include Ifugao, Kalinga, Ilocos Sur, La Union, Nueva Vizcaya, Quirino, Aurora, Bataan, Bulacan, Pampanga, Zambales, Cavite, Laguna, Quezon, Albay, Masbate, and

Sorsogon in Luzon. Rice farmers in Aklan, Antique, Capiz, Negros Occidental, Bohol, Negros Oriental, Biliran, Samar (Western Samar), Southern Leyte in the Visayas also received inbred rice seeds. In Mindanao, the provinces of Zamboanga del Sur, Zamboanga Sibugay, and Lanao Del Norte, Misamis Occidental, Misamis Oriental, Davao de Oro, Davao del Norte, Davao del Sur, Davao Oriental, Sarangani, South Cotabato, Agusan del Norte, Agusan del Sur, Surigao del Sur, Lanao del Sur, and Maguindanao were included in the inbred rice seed program.

Fertilizer recommendations

PHILRICE said the RCEP-seed program has also started to develop sitespecific fertilizer recommendations to help farmers “increase their yield and ensure that their fertilizer inputs are cost-efficient.” The agency said it assessed the

nutrient status of the rice areas using Minus-One Element Technique (MOET), a diagnostic tool for detecting soil nutrient deficiencies in actual field conditions based on the crop growth response. The results of the tool, PhilRice said, include recommendations on the “right” element, amount, and timing of fertilizer application. The fertilizer recommendation program is being implemented by PhilRice in partnership with th RCEP-Extension Services program. “Through this, we want to help farmers make more informed decisions in their crops’ nutrient management. With the expensive fertilizer prices and farmers’ existing resources, it is important that they use what is only useful and beneficial for their rice crops,” Bordey said. “PhilRice studies show that knowing the right element, amount, and timing of fertilizer application can help increase efficiency in input cost and nutrient uptake.”

House panel chair seeks briefing Zambales local govt sells rice below ₧20 per kilo on sugar import volumes, prices By Henry Empeño Correspondent

By Jovee Marie N. Dela Cruz @joveemarie

ITH his oversight power over the sugar industry, the chairman of the House Committee on Ways and Means will ask the Bureau of Customs (BOC) to brief lawmakers on sugar import volumes and prices. House Committee on Ways and Means Chairman Joey Sarte Salceda said the briefing is aimed at preventing the country from running out of sugar. “On my end, what I can do as Ways and Means chair is to have the Customs brief me on import volumes and prices, and to exercise oversight of the sugar industry development activities mandated under the TRAIN [Tax Reform for Acceleration and Inclusion] Law,” Salceda told the BusinessMirror. Salceda said Congress will try to meet with sugar stakeholders as soon as committee members are organized. “As soon as we have enough members for quorum, because we are still in the process of naming all members, we will organize the committee and meet stakeholders. Hopefully that happens within the next two or three weeks.” The Sugar Regulatory Administration (SRA) said it will start the nationwide sugar inventory this month amid concerns that the Philippines will soon run out of the sweetener. In Circular Letter (CL) No. 32, SRA OIC-Administrator Hermenegildo R. Serafica said the physical inventory to be conducted in all operating sugar mills and refineries nationwide is part of the SRA’s efforts of assessing the country’s sugar production in

crop year (CY) 2021-2022. Also, Agriculture Undersecretarydesignate Kristine Y. Evangelista said the DA and the SRA would meet industry stakeholders on August 3 to determine the additional volume of sugar needed for the country’s proposed second importation program. Salceda has proposed a five-point mitigation agenda to prevent the country from running out of sugar. He said the Executive branch can immediately undertake the proposed “five-point plan” to mitigate supply woes, short of increasing imports. Salceda said the National Biofuels Board (NBB) should set the supply of sugar biofuel additives required of petroleum products to zero, and redirect the demand to other sources such as jathropa, cassava, and others. “Second, let us request manufacturers of rubbing alcohol and other non-food sugarcane-based products to shift to other sources. I think in this regard, the Department of Science and Technology will be very important.” Once face-to-face classes resume, Salceda said the government should restrict sugar-sweetened beverages in schools to reduce nonessential and unhealthy consumption of sugar. Salceda said the President can instruct the Sugar Regulatory Administration, the Department of Agriculture, and the local government units covering sugar districts to evaluate and optimize processes in the sugar value-chain, from harvesting to milling to refining. “Fifth, PBBM can validate and investigate possible hoarding of sugar by traders. Some local planters have pointed out that there should not be sugar shortages,” he said.

OTOLAN, Zambales—A program initiated by the local government unit (LGU) in this town has effectively reduced the price of rice sold to residents to less than P20 per kilogram. Botolan Mayor Jun Omar Ebdane said the project allows local folks to buy rice at the discounted price of P100 for 6 kilos, or about P16.67 per kg. “This is really meant to help the poor, especially our Ayta brethren in the remote areas, as well as marginal farmers and even fishermen, so that they may avail of rice at cheaper prices during the rainy months when there is no rice harvest,” Ebdane said. The program was launched by Ebdane last July 12 and will continue until the end of September. Ebdane said local rice growers supply the commercial-grade rice varieties that the LGU sells to residents. Under the program, two LGU teams go out to the barangays on a

AN Aeta woman and her granddaughter bring home rice bought from a barangay distribution center in Botolan, Zambales. HENRY EMPEÑO

thrice-a-week schedule and distribute the rice with the help of barangay officials who check out whether the buyers are bona fide residents. Since the program started in July, Botolan has released some 580 cavans of rice, or more than 29,000 kilos to residents. Botolan, which has the biggest

land area among the 13 towns in Zambales, has a total of 31 barangays, some of which are in the rugged foothills near Mt. Pinatubo. It has a total population of 66,739 as of 2020. Ebdane said the rice subsidy program is a joint project of the Botolan LGU, the provincial government of

Zambales, and the office of Congresswoman Doris Maniquiz of the second district of Zambales. “Originally, our target price was P20 per kilo for 5 kilos. But Congresswoman Bing [Maniquiz] added a counterpart of one kilo, so it became 6 kilos for P100,” Ebdane added. He added that the rice subsidy program has been in place Botolan since 2016 when Maniquiz was the town mayor. “I just adopted it because it really makes a difference to the residents.” “We did not set a limit as to how many 6-kilo packages the residents may avail of,” Ebdane said. “As long as they get stubs from their barangay, they can buy as much as they need.” The subsidy program in Botolan is the first project in Zambales that seeks to allow residents to have access to cheap rice. One of President Marcos’s campaign promises is to reduce the price of the staple to P20 a kilo, a goal that the Department of Agrarian Reform recently said may be attainable early next year.

Dairy processing facility soon to serve N. Ecija ARBs

HE Department of Agrarian Reform (DAR) has revealed the ongoing construction of a village-level dairy processing center in Barangay Porais, San Jose, Nueva Ecija to serve members of the Simula ng Panibagong Bukas (SIPBU) Multi-Purpose Cooperative based in the area. The SIPBU MPC is part of the San Jose City agrarian reform community (ARC). Provincial Agrarian Reform Program Officer II Eden B. Ponio said the construction of the 2-story

building started on May 25, and is expected to be completed by the end of September. The project will benefit a total of 78 members of SIPBU MPC, consisting of 57 agrarian reform beneficiaries (ARBs). She said the construction of the 147-square-meter 2-story building within the 420-square-meter lot of the SIPBU MPC, will hold a 63.5-squaremeter dairy milk processing facility. “The SIPBU MPC is among the DAR-assisted agrarian reform beneficiary organizations [ARBOs] which

availed the business development service with support facility under the Village Level Farm Focused Enterprise Development [VLFED] of the DAR,” Ponio said. She added the VLFED project amounts to P464,000.00 comprising of materials and training for the first year and P370,000.00 for the second year, with the San Jose local government unit (LGU) providing their counterpart construction materials amounting to P700,000.00 and the ARBO providing their counterpart materials and labor amounting to

P1,800.000.00. “The VLFED project aims to enhance the products of farmers through the provision of appropriate facilities and equipment,” she said. Ponio added that the VLFED project aims to establish a sustainable Income-Generating Project (IGP) in the area and provide additional income to the ARBs, develop ruralbased entrepreneurs, upgrade the production, processing, packaging, distribution, and marketing of products, and, at the same time augment the ARBO’s income. Jonathan L. Mayuga

World’s food supply faces new threat from lack of rain in India

ICE could emerge as the next challenge for global food supply as a shortage of rain in parts of India, by far the world’s biggest exporter, has caused planting area to shrink to the smallest in about three years. The threat to India’s rice production comes at a time when countries are grappling with soaring food costs and rampant inflation. Total rice planted area has declined 13 percent so far this season due to a lack of rainfall in some areas, including West Bengal and Uttar Pradesh, which account for a quarter of India’s output. Traders are worried that a drop in rice production will complicate India’s inflation fight and trigger restrictions on exports. Such a move will have far-reaching implications for the billions of people

that depend on the staple. India accounts for 40 percent of global rice trade, and the government has already curbed wheat and sugar exports to safeguard food security and control local prices. The jump in India’s rice prices reflect concern about output. Prices of some varieties have soared more than 10 percent in the past two weeks in major growing states such as West Bengal, Odisha and Chhattisgarh due to deficient rain and increased demand from Bangladesh, said Mukesh Jain, a director at Sponge Enterprises Pvt., a rice shipper. Export prices may climb to $400 a ton by September from as much as $365 now on a free-onboard basis, he said. Most of the world’s rice is grown and consumed in Asia, making it vital for political and economic stabil-

ity in the region. In contrast to the surge in wheat and corn prices after Russia’s invasion of Ukraine, rice has been subdued due to ample production and stockpiles, helping to ward off a bigger food crisis. Much is riding on the rice crop in India and the monsoon’s progress. Some agricultural scientists are optimistic that there’s still time to continue planting and make up for some of the shortfall. Rain is forecast to be normal for August to September, which may improve crop output. Farmers are less upbeat. Rajesh Kumar Singh, 54, a grower in Uttar Pradesh, said he planted rice on only half of his seven acres (2.8 hectares) of land due to a lack of rain in June and July. “The situation is really precarious,” he said. Rice prices are feeling the pres-

sure, said Himanshu, a professor at Jawaharlal Nehru University, who goes by only one name. “Rarely any sowing happens after mid-July, so the hope that it will recover is unlikely to be the case,” he said, adding that a drop in output is a risk to inflation. Rice could present a fresh challenge to India’s inflation fight. Consumer prices have maintained above the Reserve Bank of India’s tolerance limit of 6 percent this year, prompting a sharp rise in interest rates. “Lower area of rice sowing amidst increased demand of imports from Bangladesh and other Middle Eastern countries have pushed up rice prices of different varieties to as much as 30 percent since June,” said Deutsche Bank Economist Kaushik Das. “This poses challenges for food inflation outlook.”

WORKERS clean rice paddy at a wholesale market in the outskirts in New Delhi. BLOOMBERG NEWS

The central bank may increase borrowing costs further this week as a weakening rupee offsets the impact of falling commodity prices such as fuel and vegetable oils. If geographic disparities in rain-

fall persist, it could have a detrimental impact on crop production, negatively impacting economic growth and inflation, according to Sonal Varma, an economist at Nomura Holdings Inc. Bloomberg News

A12 Thursday, August 4, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Knowing the telltale signs of a gifted child

very child is special. But a few children have exceptional intelligence. Can you tell if your little one is more than just smart and actually in the leagues of Albert Einstein, Isaac Newton or Marie Curie, the first woman to win a Nobel Prize? It pays for parents to know the telltale signs that they are taking care of a future Mensa member. An article published by webmd.com—What Are Signs of Genius?—said there are many different signs of genius. Together they are called “giftedness” in children. The article said, “no two brains and no two people are the same (even twins!). Different geniuses can display different traits.” The article said there is no official checklist for signs of genius, but some of the signs that often appear in children include: Intense need for mental stimulation and engagement; ability to learn new topics quickly; ability to process new and complex information rapidly; desire to explore specific topics in great depth; insatiable curiosity, often demonstrated by many questions; learning educational material at grade levels ahead; emotional depth and sensitivity; excitement about unique topics or interests; a mature or unique sense of humor; imaginative and able to discover creative solutions to problems; quick learner; and more aware than other kids of self, social situations, and global issues. In a long-running research called the Study of Mathematically Precocious Youth, scientists followed 5,000 kids who tested in the top one percent of intelligence for over four decades. The findings, published in the science journal Nature, contradict two long-held theories: First, the idea that high performance comes mainly from practice, and second, that “anyone can get to the top with enough focused effort of the right kind.” The research suggests that early cognitive intelligence has more effect on success than deliberate practice or outside factors like one’s socioeconomic status. “The kids who test in the top one percent tend to become our eminent scientists and academics, our Fortune 500 CEOs and federal judges, senators and billionaires,” Jonathan Wai, a psychologist at Duke University Talent Identification Program in Durham, says in Nature. The research also emphasizes the importance of nurturing precocious children and the significance of allowing fast learners to skip grades in school. From The Washington Post: “Alena Analeigh Wicker is like other 13-year-olds in that she enjoys going to the movies, playing soccer, baking and hanging out with friends. But very much unlike other teenagers, she just got accepted to medical school. In May, Alena was offered a spot at the University of Alabama’s Heersink School of Medicine for 2024, as part of its Early Assurance Program—which offers early admission to applicants who meet specific requirements.” “I’m still a normal 13-year-old,” said Alena, a student at both Arizona State University and Oakwood University, where she is simultaneously earning two separate undergraduate degrees in biological sciences. “I just have extremely good time management skills and I’m very disciplined.” While trying to keep up with friends and regular childhood activities, Alena has stayed laser-focused on her academic and professional goals, the report said. “I have a hunger and desire to learn, and that’s just always been me,” said Alena. She became NASA’s youngest intern in the summer of 2021—which was a longheld dream. The report narrated how Clayton Turner, the director of the agency’s Langley Research Center, came across a news story last year about Alena—then a 12-yearold who was headed to college and who hoped one day to work at NASA. He decided to reach out. Turner became Alena’s mentor and got her an internship at NASA, where she did various assignments, including remote research for the Jet Propulsion Laboratory in La Cañada Flintridge, California, which she visited during her internship. “Alena is one of those exceptional intellects,” Turner said. The Washington-based National Association for Gifted Children estimates that 3 million children in America are gifted. They define “gifted” as “those who demonstrate outstanding levels of aptitude or competence in one or more domains.” Although there’s no current data for exceptional children in the Philippines, it’s about time Filipino parents start nurturing their kids and teaching them to think and see beyond the box. It’s also important for parents to learn how to recognize the telltale signs of a gifted child. We need to discover Filipino kids who are potential Mensa members.

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2023: The year from hell John Mangun

OUTSIDE THE BOX

isastrous economic policies for more than 30 years led to the political chaos of 2016, which led to the economic chaos of 2020. The cycle moved in January 2022 to another stage in increased upheaval in both arenas. When bad politics meets bad economics, it creates a breeding ground for war. The situation is only going to get worse. Look at Ukraine. North Atlantic Treaty Organization (Nato) was created for one reason and one reason only. A military partnership was needed in Europe after World War 2 to contain any thought of expanding the USSR by Joseph Stalin. His troika successors—Malenkov, Beria, and Molotov—were no less expansionist minded. Nato effectively kept the Soviet Union behind the Iron Curtain. But after the fall of the USSR, domestic political considerations (after the reunification of Germany) made Nato expansion against an economically and militarily weak Russia a good campaign issue. Bad politics. While moving Nato closer to Russia’s borders, in the name of “Green Energy” and “Climate Change,” western Europe also became increasingly

dependent on Russian energy sources. Bad economics. So Russia feels disrespected by Nato and holds substantial power as a major supplier of European energy. Why wouldn’t Putin take advantage of that situation? Richard Nixon effectively opened China up to the world and the US to China. The purpose was to put a large wedge between the USSR and China as now Beijing could enjoy economic benefits from moving towards the US. The “One China” policy, as clearly stated by the US, meant that “all Chinese on either side of the Taiwan Strait maintain there is but one China and that Taiwan is a part of China.” US National Security coordinator John Kirby said this week that the US is clear about its One China policy and does not support “Taiwan independence.” Nixon did everything possible to

Banners reading “Speaker Pelosi, welcome to the Republic of Taiwan” greeted the House Speaker’s motorcade into Taipei. The Americans are either incredibly naïve or are showing—to be polite—a great lack of intelligence and common sense. separate China and USSR in 1972. Against the backdrop of the Ukraine war, the US is doing everything it can to push Russia and China closer together. The timing could not be worse. China needs Russian energy. Russia needs China to provide goods to circumvent the sanctions. However, neither Russia nor China likes being more dependent on the other. That is the way it is. But now they have a common enemy, and the enemy of my enemy is my friend. Pelosi’s trip to Taiwan accomplished absolutely nothing except to show how “strong” Biden is against China during this election year. Unfortunately for Biden, concerns about Russia and China are way down on Americans’ list after inflation. The next 60 days—which probably not-coincidentally include the Ghost Month—is critical and we will see more stress on the global economy and politics. As the US had no understanding of Putin and Russia, it does not understand the situation that they created for the Beijing government. Xi cannot appear weak

and cannot let this go “unpunished.” Banners reading “Speaker Pelosi, welcome to the Republic of Taiwan” greeted the House Speaker’s motorcade into Taipei. The Americans are either incredibly naïve or are showing —to be polite—a great lack of intelligence and common sense. But the greater worry that will make 2023 the year from hell is sovereign debt problems. We have been fooled to think that it is countries like the Philippines that are at risk. It is not. The bigger they are, the harder and quicker they fall. The British pound was worth $2.48 in October 1980. Within four years, that currency lost 57 percent. Note that the credit risk default is worse than the Philippines for Brazil, Indonesia, South Africa, Egypt, and India. The bible may have talked about “rumors of war” but it did not mention sovereign debt, which will eclipse war. As the European Central Bank followed with a rate increase —the first in 11 years—it adopted a “new tool” called Transmission Protection Instrument (TPI). This will allow the ECB to buy the sovereign debt of countries in big debt trouble. On the top of that list is Italy, Spain, and Portugal not Bangladesh, Uganda, or El Salvador and not only because they are in Europe. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Clergy, bags of cash set off new sectarian brawl in Lebanon

By Kareem Chehayeb | The Associated Press

EIRUT—A Lebanese archbishop who carried more than $460,000 from Israel to Lebanon is at the center of the latest sectarian showdown in crisis-hit Lebanon, and the case could even spill over into presidential politics. The situation has ramped up discord between two powerful political camps: Lebanon’s Shiite Muslim Hezbollah group and the Maronite Church. The clergyman was briefly detained last month by Lebanese border agents who confiscated 20 suitcases stuffed with cash and medicine, arguing he violated Lebanon’s strict laws against normalization with Israel. Hezbollah’s opponents say the Iran-backed group has sway over Lebanese institutions and security agencies, and have used them to target the Maronite Church. The archbishop, Moussa el-Hajj, is a senior member of the Maronite Church, whose patriarch has become increasingly critical of the Iran-backed Hezbollah and its growing influence in Lebanon. Much of the Christian community saw the archbishop’s detention as an attack on the church. In a sermon late last month, Maronite Patriarch Beshara al-Rai

denounced the legal proceedings against el-Hajj as a fabrication, arguing that the money was for charity. He demanded that the charges be dropped and that the military judge who presides over the case resign. Al-Rai was met with a standing ovation and protesters gathered the following week at his summer residence to rally in support of the church. Underlying the dispute are decades of hostile relations between Israel and Lebanon. The two countries have formally been at war since Israel’s founding in 1948, and Lebanon has tough anti-normalization laws on the books. The border remains closed, though several top Lebanese Christian officials have permission to cross on occasion to visit their flock in Israel, the Palestinian territories and Jordan. On July 20, Lebanese border agents held el-Hajj for eight hours after he returned from Israel with 20 suitcases of medicine and cash.

El-Hajj said he was delivering money and assistance from Lebanese Christians in northern Israel to their relatives in the cash-strapped country. The agents confiscated the money, the medicine, el-Hajj’s cellphone and passport. Hezbollah officials saw el-Hajj’s act as normalization with Israel and accused him of delivering money from Lebanese affiliated with a militia that once fought alongside Israel. Thousands of Lebanese moved to Israel after it ended an 18-year occupation of parts of southern Lebanon in 2000. Many of those who fled to Israel were linked to the main proIsraeli militia in the region, the South Lebanon Army, which collapsed after Israeli troops withdrew. The case could have wider political implications. The country for months has been without a fully functional government and is expected to hold presidential elections before the end of October. Under Lebanon’s sectarian powersharing system, its president must always be a Maronite. Incumbent President Michel Aoun is an ally of Hezbollah, but the Maronite patriarch’s increasingly vocal criticism of Hezbollah suggests there is no guarantee the next president will continue an alliance with the militia.

Lebanon’s parliament once had a clear majority for Hezbollah and its allies but since elections in May it now stands neck and neck with some of its staunchest opponents, most notably the Christian Lebanese Forces party. Most Christian members of parliament and legislators of other sects who oppose Hezbollah rallied to back the archbishop and the Maronite church. “We agree with everything they have said, whether it’s their calls for removing the judge, or the selectivity in how the archbishop was treated,” said Elias Hankash, a Christian legislator of the Kataeb Party. “They (Hezbollah officials) shouldn’t just take out their anger on a religious official to send their message to the patriarch.” Imad Salamey, a political science professor at the Lebanese American University in Beirut, said much is at stake for Hezbollah. “We’re coming to a presidential election and following that we have to form a new government, and set a government policy to negotiate with the IMF (International Monetary Fund,” he said. “I think Hezbollah wants to send all kinds of messages at the moment, and is determined to show it continues to be the major player among all.”

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Food and conflict: Demands for corporate accountability are growing

Opinion BusinessMirror

SONA: Unaddressed policy issues Dr. Rene E. Ofreneo

LABOREM EXERCENS

By Margarita Lysenkova

res mined in war zones have long been subject to heightened attention when it comes to sustainability and reputational risks. Yet in 2022, it is the production and sourcing of “soft” commodities, like wheat, that are increasingly under scrutiny. As the conflict in Ukraine continues to escalate, the impacts on sustainable development become more pronounced, and the vulnerabilities in global food supply chains are increasing. Almost half of the world’s calorie intake is derived from essential crops, such as maize, rice, and wheat—and according to World Bank analysis, Ukraine and Russia account for 29 percent of global wheat exports and 17.4 percent of world trade in maize. Supply of crucial cooking oils and fertilizers has also been affected. Many companies have suspended trade and operations in Russia due to sanctions and stakeholder pressure. While the diplomatic agreement reached to unblock Black Sea trade routes from Ukrainian ports offers some encouragement, uncertainties remain. In addition, concerns over products being obtained under extortion add to the challenges for companies involved in commodity trade throughout the region.

Rights to food are being eroded

IT goes without saying that when agricultural areas are devastated and water installations destroyed, the right to food of the local population is violated. Yet the impact of the Ukraine crisis spreads well beyond the nation’s borders. It is expected that many millions will be at risk of hunger globally as a result of tightening supply and affordability of essential crops, which comes on top of existing difficulties that have already been exacerbated by two and a half years of Covid-19. Not all world regions are exposed in the same way. Where people are already experiencing severe poverty, the risks of hunger and malnutrition are much higher. As the World Food Programme has warned, countries dependent on food exports from the conflict-affected region are being hit hardest. Meanwhile, to prevent local shortages, we are seeing some countries restricting food exports, which may further impact the global supply. When viewed from the human rights perspective, the right to food for many is not primarily about a lack of sufficient quantity but lack of access—largely due to affordability. However, with continuing declines in Russia-Ukraine food exports, we are seeing heightened concern over insufficiency of food availability. Less crops harvested and planted in 2022 is likely to instigate a spiral of worsened food security in the year ahead.

Global baseline for transparency

Most food is produced, processed, traded, and distributed by private businesses. At the same time, when an individual company looks at their impacts on food security in isolation, it often struggles to determine them. Multinational companies may also focus on developed markets where food security is not a significant concern. The risk is that food security is perceived as a macro “development” issue, which is why expectations for transparency on food security is relatively new for many companies. The GRI Agriculture, Aquaculture and Fishing Standard (GRI 13), launched in June, supports any organization operating in these sectors to communicate and disclose their sustainability impacts in a comprehensive and comparable way. This new reporting standard singles out food security as one of the significant issues that companies need to consider, providing a new global baseline for transparency on the topic. As GRI 13 recognizes, there is no silver bullet solution to global food security. A myriad of approaches and actions are needed, including: Strengthening capacity for farmers to increase production and supply, such as a newly launched US$1.5 billion African Emergency Food Production Facility that is delivering ur-

gently needed seeds and fertilizers and helps producers to cover food shortages in the region. Rising fuel and transportation costs is another pressure on farmers’ incomes, further increasing the vulnerability of small producers. By reporting their contribution to economic inclusion of farmers, companies can demonstrate the role they are playing—and where more action is needed. Partnerships and collaboration to alleviate food security concerns, with some companies working with governments and international development institutions. For example, a link up between the International Finance Corporation and Olam Agri will boost exports of wheat, maize and soy to developing countries. The existing distribution channels of companies can be leveraged in cases of a crisis for a prompt response. This is why GRI 13 recognizes partnerships on food security as key information to report. Greater action on food loss, to ensure more food is persevered for human consumption. According to the Food and Agriculture Organization, globally 13.8 percent of food is lost from harvest to retail. And of course, mitigating food loss also brings cost savings and economic benefits, while reporting can help assess the efforts to minimize food loss. Food sovereignty policies, which emphasize local resilience within agriculture systems, to help countries that are largely dependent on food imports to redress the balance and reduce vulnerability to crises in other regions. Localized food production also reduces the distance between producers and consumers. By reporting actions to strengthen food security at the local and regional level, companies can highlight how they address food security locally or regionally. Trade-offs and compromises— such as those related to land use for products, or changes to align dietary choices with sustainably produced food. As the EAT-Lancet Commission report outlines, food production needs to shift to be beneficial for both human health and the environment. This means businesses need to be taking active decisions about how they are using land and natural resources.

A persistent and pressing challenge

The actions of the companies producing the essential food and materials on which humanity’s survival depends can be a multiplying factor when it comes to the UN Sustainable Development Goals. And given we are presently on a trajectory to fail to reach SDG 2 (Zero Hunger), with 800 million people going hungry every day (according to a UN Food & Agriculture Organization report), it’s clear that we need private companies to take greater accountability for their food security related impacts. The global population is projected to rise to 10 billion by 2050, meaning that we can expect the issue of food security will continue to rise up priority lists—for governments, policy makers and big business alike. That means that civil society groups, responsible investors and other stakeholders will press companies to be transparent. Food is more than just a commodity that can be left to the whims of market forces—nor should its supply and security be undermined as a consequence of armed conflicts and natural disasters. The integration of food security considerations into the sustainability strategies of companies, as encouraged through GRI’s new Sector Standard, is a crucial next step towards the long-term solution. Margarita Lysenkova is the Sector Program Manager of the Global Reporting Initiative.

Thursday, August 4, 2022 A13

he SONA of PBBM was a relief. It was delivered in a nonrambling manner sans insults and threats being hurled to enemies, real and imagined. The Marcosian baritone voice was pleasantly not grating to the ears. President Marcos also spouted a number of policy promises, a number of which have huge budgetary implications for a debt-saddled economy. One notable pledge is the commitment to upgrade the country’s health-care system and bring health care down to the community level through the full staffing of RHU clinics (with a doctor, nurse, midwife and medtech). This seems to be patterned after the globally successful Cuban model, which promotes preventive and restorative primary health care in every “barrio.” Another notable policy thrust: all-out support to the operationalization of the Department of Migrant Workers and its myriad programs for the benefit of the OFWs and their families. DMW Secretary Susan “Toots” Ople, an ardent advocate of migrant workers’ rights, is an enemy of human traffickers and bureaucrats who make the life of OFWs miserable through time-consuming rules and procedures in the processing of outbound/inbound OFW papers. There are other positive policy promises. On education, the President highlighted the need to strengthen “connectivity,” meaning providing the students access to the Internet and digital materials. However, he failed to address some weaknesses in education such as the failure of the system to inculcate na-

tionalism and sense of history. His proposal to strengthen the teaching of English as a medium of instruction is also contestable because students learn fastest through the use of the national language. On agriculture, the President seeks a condonation of the debts of agrarian reform beneficiaries and the all-out development of value chains between the farmer and the consumer. However, he is obviously not fully apprised of the reasons and circumstances why so many ARBs are drowning in debt and why the farmer-consumer value chains have not been developed despite decades of DA-DAR “modernization” programs involving billions of budgetary allocations. Up to now, there are no clear and sustained programs in the transformation of ARBs and small farmers to become the modern agribusiness leaders for the country. Please—not the giant agribusiness companies, not the multinational input producers-distributors, not the big agri smugglers-importers. On energy, President Marcos is a well-known advocate of green or renewable energy. After all, Ilocos Norte is the pioneer in the establishment of wind mill farms in the country. However, his proposal to “re-examine” the nuclear option is questionable given the unsettled

Now on the unaddressed policy issues. First and foremost among these is the lack of quality and sustainable jobs for more than half of the labor force. As of January 2022, the unemployed numbered around 3 million, or roughly 6.5 percent of the labor force. Among the unemployed are the graduates of 2019, 2020, 2021 and 2022. issue of safety in an earthquakeprone country. The Bataan Nuclear Power Plant, fully paid (over $2 billion) without generating a single watt of electricity for the country, is a symbol of corruption and a monument to incompetence in energy planning. As to his program to provide incentives to natural gas development, this is also contestable. The development of natural gas is contrary to the program of going green and clean because natural gas is an emitter of methane, a major greenhouse gas that is causing global warming. Now on the unaddressed policy issues. First and foremost among these is the lack of quality and sustainable jobs for more than half of the labor force. As of January 2022, the unemployed numbered around 3 million, or roughly 6.5 percent of the labor force. Among the unemployed are the graduates of 2019, 2020, 2021 and 2022. And then there are millions of inadequately employed. Among them are those considered officially as underemployed because they lack sufficient hours of work (6.3 million or 14 percent of the labor force as of April 2022). However, the inadequacy of jobs should not be measured only in terms of hours of work. There are millions of informal workers and micro en-

trepreneurs who are unable to find better jobs or businesses or work with adequate compensation. A big number are hardly surviving on a day-to-day basis. The inadequately employed include the contractuals, project hires and even regulars, who have been placed in rotating no work-no pay work schedules by companies that are also struggling to survive in a depressed economy. All these workers suffer from the precarity of work— lack of job security, lack of certainty on the continuity of work/business and lack of social protection. It appears that the President has been assured by the newly-appointed economic technocrats that things will be better for everyone should the economy register 6-7 percent annual growth. However, such growth is not an assurance that everyone shall get good quality job. This kind of economic thinking represents trickledown economics. In 2018, then DA Secretary Manny Piñol presented in a Senate hearing how the high growth registered in 2016-2017 was not cascading down to the benefit of the farmers. Clearly, the government should be able to craft a more concrete and reliable program of generating jobs in a post-pandemic period characterized by so much uncertainty and volatility in the world economic order. Please, not a repeat of the 2011-2016 and 2017-2022 Philippine Development Plans, which give rosy economic growth forecasts, as if such forecasts are automatically translated to reality and automatically lift millions of jobs and lives. And then there are other unaddressed policy issues. More on this in the next column. Dr. Rene E. Ofreneo is a Professor Emeritus of the University of the Philippines. For comments, please write to reneofreneo@ gmail.com.

The downside: US strike shows Afghanistan still terror base By Aamer Madhani, Zeke Miller, Nomaan Merchant & Lolita C. Baldor The Associated Press

ASHINGTON—The Biden administration is holding out the CIA operation that killed al-Qaida leader Ayman alZawahiri as a monumental strike against the global terror network responsible for the September 11 attacks of 2001. But there’s a downside, too. The drone strike also is putting into stark relief the mounting evidence that after 20 years of America’s military presence—and then sudden departure—Afghanistan has once again become an active staging ground for Islamic terror groups looking to attack the West. The operation, carried out over the weekend after at least six months spent monitoring movements by alZawahiri and his family, came just weeks before the one-year anniversary of the chaotic US withdrawal from the country. The Biden administration is making the case that the operation shows Americans at home and allies abroad that the United States hasn’t lost focus—or the ability to strike terrorists in the region—and validates its decision to end two decades of fighting in Afghanistan with its withdrawal. Announcing the strike from the White House, President Joe Biden said Monday night that “justice” had been exacted on a leader who in recent weeks had recorded videos calling for his followers to attack the United States and allies. And the White House on Tuesday framed the operation as an enormous counterterrorism win. “The president has made good on his word when we left,” National Security Adviser Jake Sullivan said on NBC’s “Today” show. “After 20 years of war to keep this country safe, he said we would be able to continue to target and take out terrorists in Afghanistan without troops on the ground.” But as details of the operation continue to emerge, the administration has also revealed troubling evidence

of al-Qaida’s presence and of the Taliban once again offering refuge to the group that was behind the 9/11 attacks on the United States. White House officials believe that senior members of the Haqqani Network, an Islamist terror group with strong ties to the Taliban, were aware that al-Zawahiri was in Kabul. Sullivan said that while al-Zawahiri wasn’t involved in day-to-day planning at the time of his killing, he continued to play an active role in directing al-Qaida and posed “a severe threat” against the US and American citizens. On Tuesday, the State Department updated its Worldwide Caution, warning US citizens traveling abroad that “there is a higher potential for anti-American violence given the death of Ayman al-Zawahiri.” Concerns about al-Qaida efforts to regroup inside Taliban-controlled Afghanistan are hardly new. Before the strike, US military officials, including Gen. Mark Milley, chairman of the Joint Chiefs of Staff, had said al-Qaida was trying to reconstitute in Afghanistan, where it faces limited threats from the nowruling Taliban. Military leaders have warned that the group still aspired to attack the US. Al-Qaida leadership has reportedly played an advisory role since the Taliban returned to power in the leadup up to the US withdrawal, according to a UN Security Council report last month. The UN report also noted that ISIS-K—the group that carried out a massive attack that killed 13 US troops and dozens of Afghans near the Kabul International Airport just days before the US completed its

Announcing the strike from the White House, President Joe Biden said Monday night that “justice” had been exacted on a leader who in recent weeks had recorded videos calling for his followers to attack the United States and allies. And the White House on Tuesday framed the operation as an enormous counterterrorism win.

withdrawal last year—has become increasingly active in northern and eastern Afghanistan. That’s a worry for the West though ISIS-K and the Taliban espouse different ideologies and interests, with ISIS-K carrying out a bloody insurgency against the Taliban and religious minorities across Afghanistan. “Zawahiri’s presence in postwithdrawal Afghanistan suggests that, as feared, the Taliban is once more granting safe haven to the leaders of al-Qaida – a group with which it has never broken,” said Nathan Sales, ambassador-at-large and coordinator for counterterrorism during the Trump administration who is now a senior fellow at the Atlantic Council. Frank McKenzie, the retired Marine general who until earlier this year was the top American military officer in the Middle East, said the US has noted an effort by al-Qaida to restore training camps in Afghanistan. “I see nothing happening in Afghanistan now that tells me that the Taliban are determined to prevent that from happening,” he said in an interview. Since the American troop withdrawal, US military leaders have said America’s ability to monitor and strike a target in the country would be difficult but not impossible. The strike on Zawahiri proved both, said McKenzie, who is now executive director of the Global and National Security Institute at the University of South Florida. But he cautioned not to draw broad conclusions from this one

drone strike. “This was a unique circumstance,” he said. “You had a target that didn’t move, and they had the opportunity to get a good look at pattern of life. That’s not always going to be the case. In fact, typically, that is not the case.” That al-Zawahiri was living in a Kabul neighborhood and not in rural Afghanistan as previously believed, “tells you that he got really comfortable” under the protection of the Taliban, said Colin Clarke, director of research at The Soufan Group, a global intelligence and security firm. “These entities work hand in glove,” Clarke said of the Taliban and al-Qaida. The Taliban had promised in the 2020 Doha Agreement on the terms of the US withdrawal from Afghanistan that they would not harbor alQaida members or those seeking to attack the US. The Taliban were quick to condemn the US strike as a “a clear violation of international principles and the Doha Agreement,” though they did not acknowledge that alZawahiri was killed. The US gave no forewarning to the Taliban government, which the United States does not recognize, that it was carrying out the operation. “Such actions are a repetition of the failed experiences of the past 20 years and are against the interests of the United States of America, Afghanistan, and the region,” the Taliban statement said. White House National Security Council spokesman John Kirby declined to comment on how, or if, the US would hold the Taliban responsible for sheltering al-Zawahiri. “The Taliban have a choice now,” Kirby said. “And that is they can comply with their agreement under the Doha agreement ... or they can choose to be going down a different path. And if they go down a different path, it’s going to lead to consequences not just from the United States but from the international community.” AP Diplomatic Writer Matthew Lee contributed.

A14 Thursday, August 4, 2022

TRAVELERS BLAMED FOR ENTRY DELAYS By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HE Bureau of Quarantine (BOQ) assured travelers that the One Health Pass (OHP) is “user friendly” and instead, blamed passengers for the delays they experienced when lining up for entry into the Philippines. Asked whether the OHP could be simplified to ease the confusion among arriving travelers, BOQ Director III Dr. Roberto M. Salvador explained in a mix of English and Filipino, “OHP is user-friendly and if travelers will upload required documents like the vaxx card showing they are fully vaccinated plus the booster, or fully vaccinated without a booster dose but RT-PCR test results pre-departure, they will receive a QR code eligible to pass the express lane.” In a Viber message to the BusinessMirror, he explained, “Those who have not complied with uploading documents or protocol, a barcode will be given and they will have to undergo manual verification of documents upon arrival.” He stressed, “It’s the behavior of the passengers that is the problem, that’s why the process

at the airport gets delayed. If they don’t comply with the OHP, they are manually verified which is slower instead of the express lane where it is just ‘scan and go.’ As of now more than 80 percent of arrivals are able to comply that’s why the [entry] process at the airport is quick.”

Travelers’ experiences

A NUMBER of newly-arrived passengers in the Philippines told this paper they received both a bar code and a QR code after registering with the OHP, causing confusion upon arrival at the airport. In other cases, arriving passengers received only a bar code despite having uploaded all the documents required by the OHP site. “Then the queue for those with the barcode is so long, while the queue for those with a QR code is short. We were concerned as these passengers were squeezed into such a small space, without any social distancing,” said one traveler, who requested anonymity. “We were also treated rudely by the staff checking our papers; they were mad that we were in the bar code queue despite the fact we had uploaded all our documents to the OHP site,” he added. Continued on A5

House leader pitches food sovereignty bill amid global crises

S the Covid-19 pandemic has adversely affected food security all over the world, the chief of the House Committee on People’s Participation is pushing for the passage of the proposed National Food Sovereignty Act. House Bill 1493, according to San Jose Del Monte City Rep. Florida Robes, seeks to enhance food security and ultimately achieve food sovereignty through the efficient production, processing, marketing and distribution of agricultural products, rationalizing and restructuring for the purpose, existing government organizations in agricultural production, distribution, marketing and other support programs. “The pandemic has reduced incomes and disrupted food supply chains. The condition was exacerbated by the Russia-Ukraine conflict which has aggravated hunger and poverty all over the world. The Philippines is no exception to these adverse effects as Filipinos continue to feel the crisis brought about by the exponential increase in fuel prices and ultimately the prices of all kinds of commodities,” she said. “To remedy the situation in order to reverse the trend of food insecurity in the country, necessary steps must be initiated to support, diversify and transform the country’s agricultural output through cooperatives, investments in technology and innovation that prioritize the needs of the farmers must be put in place,” Robes added. Robes said her bill addresses the longtime need of agricultural workers, especially farmer-beneficiaries of land reform, to access support, access to credit, market opportunities, among others. “Government intervention is needed to institutionalize ways of packaging factor inputs in agriculture to bring about innovative, efficient and competitive modes of production and marketing. Otherwise, support services like extension, information, and infrastructure will not be sufficient to overcome

the perceived production risks that deter the farmer from venturing into higher value crops,” she said. The bill rationalizes and restructures the existing government organizations in order to establish harmony and coordination between policy-making and implementation, and market development programs geared towards supporting the farmer as he transforms himself into an entrepreneur. More than food security, Robes said the bill establishes the Food Sovereignty program, as envisioned by President Ferdinand “Bongbong” R. Marcos Jr., which puts control back in the community’s hands by directly linking farmers and fishermen to the consumers and thereby limiting number of people in the value chain, adopting modern techniques, incentivizing research and development to promote innovation and transforming agricultural workers into entrepreneurs. To achieve all of these, the bill creates the National Agricultural Marketing Council to serve as the policy-making body for agricultural trading, with the Regional Agricultural Marketing Councils as its branch offices. These attached agencies are also created to serve proprietary roles in marketdevelopmentandintervention: The National Agricultural Trading Corporation (Natcor), to function as the market development and intervention arm of the council. The Public Warehousing Corporation, to operate Commodity Exchange Centers (CECs), establish terminal markets all over the country, and maintain the country’s buffer stocks of food grain and other food commodities The Agricultural Credit and Guarantee Corporation of the Philippines (Agcredor) to provide credit assistance and guarantee cover on project bans and inventory financing for commodities deposited in the Public Warehousing Corporation’s warehouses. Continued on A5

PHL eyes 300K MT sugar imports as yields plunge

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Philippines is mulling over importing 300,000 metric tons (MT) of sugar to plug the shortfall in supply and temper rising prices as local production falls to its lowest level in more than two decades.

The Sugar Regulatory Administration (SRA) is looking at 300,000MT additional sugar imports to ensure the country’s supply is adequate until next the milling season peaks, its administrator told the BusinessMirror. “ This should be enough to cover the local demand until such time that the local production is able to build up and cover domestic demand,” SRA Administrator Hermenegildo R. Serafica said in an interview Wednesday. Serafica explained that even if some sugar mills start operating in August, they would not be able to meet the monthly estimated sugar demand of the country. “The volume produced in August and September are negligible and cannot meet the 169,000 MT

monthly average consumption since the volume of sugarcane that can be harvested in August and September are minimal,” he said. “In addition, the refineries need time to build-up their raw sugar supply before they can start refining the same,” he added.

Lowest in 22 years

THE country's sugar production in crop year 2021-2022 may settle at 1.8 million MT, its lowest level in 22 years, documents and data obtained by the BusinessMirror showed. The volume would be 16 percent lower than the 2.143 MMT recorded output in the previous crop year. The volume is also 9 percent lower than the 1.98 MMT final crop estimate made by the SRA months ago. Historical SRA data showed that

this is the lowest sugar production of the country since the 1.619 MMT recorded in crop year 1999-2000. SRA’s latest sugar output estimate was presented at a recent stakeholders’ consultation on the sugar supply situation. Industry sources told the BusinessMirror that participants during the stakeholders’ consultation were unanimous in proposing an additional sugar import program with a volume ranging from a low of 150,000 MT to as much as 350,000 MT.

Marcos was briefed

PRESIDENT Ferdinand R. Marcos Jr. was briefed by Department of Agriculture (DA) and SRA officials on the country’s sugar supply situation last August 1. In his presentation to the President, Serafica said the country would end the crop year 2021-2022 with a deficit of 35,231 MT of raw “B” sugar and a shortfall of 20,749 MT of refined “B” sugar. The current crop year ends on August 31. “B” sugar is sugar classified by the SRA for domestic use. Serafica explained that sugar prices skyrocketed in the past months due to tightening supply worsened by delayed implementation of the Sugar Order (SO) 3 import program and increased pro-

duction costs. Serafica also recommended to Marcos, the concurrent Agriculture Secretary and SRA Board Chairperson, the drafting of a new SO for another import program. Documents and data obtained by the BusinessMirror showed that the country must have a comfortable buffer stock of about 250,000 MT of raw sugar and another 250,000 MT of refined sugar. The country’s total refined sugar ending balance by August 31 would only be at 129,251.35 MT while raw sugar ending stocks would be totally wiped out (-11,617 MT), latest government estimates showed. SRA price monitoring reports showed that the average price of refined sugar in Metro Manila supermarkets as of July 29 reached P90.85 per kilogram, while those sold in wet markets were pegged at P93 per kilogram. Furthermore, SRA price monitoring reports showed that the refined sugar in Metro Manila supermarkets and groceries go as high as P115 per kilogram. The Philippines has been scrambling to arrest skyrocketing sugar prices caused by thinning supply due to lackluster domestic production. Government officials earlier warned that the country’s sugar supply would be depleted by the end of the month.

MILD RELIEF Prices of pork and chicken have gone down, according to Manny Pareja, a meat vendor in Las Piñas City, due to lower transportation costs after a series of rollbacks in gasoline prices last month. NONIE REYES

PAL reports ₧4.2-B income as revenues surge

HILIPPINE Airlines Inc. (PAL) said on Wednesday it generated a net comprehensive income of P4.2 billion in the first half of 2022, as travel restrictions ease. In a statement, the flag carrier said this is the “first positive first and second quarter financial results since 2016.” “We view the positive operating results for first half 2022 as a demonstration of the loyal support of our PAL customers, for which we are deeply grateful, and a validation of the efforts of our shareholders, management and personnel to rebuild our international and domestic network

amidst the strengthening recovery of air travel,” said PAL President & COO Capt. Stanley K. Ng. It netted P58.1 billion in revenues, as it generated a 258-percent surge in passenger revenues and another 31-percent rise in cargo revenues versus last year. Operating expenses, meanwhile, reached P51.5 billion, which includes P19.9 billion in fuel expenses. “We acknowledge tough challenges ahead, as various regions grapple with rising inf lation, higher energy costs and economic uncertainties,” said Ng. “So we will

continue to be fiscally prudent as we mobilize our talents and resources to grow responsibly, in a way that helps boost tourism, supports overseas Filipinos and offers the best value to travelers and cargo shippers.” PAL is a few months fresh from getting $505 million in fresh funding, allowing it to restore more flights and routes, as local and international travel restrictions ease. Ng said PAL has invested in rebuilding its international network between the Philippines and North America, Australia and the Middle East, along with many parts of Asia.

In addition to PAL’s extensive domestic network linked to gateways in Manila, Cebu and Davao, the flag carrier is the only airline operating nonstop flights linking the Philippines to the US and Canada, along with the largest network of flights from Manila to multiple cities in the Middle East, Japan and Australia. PAL also operates all-cargo flights to various local and overseas economic centers. “As we continue to rebuild and grow, our top priority will always be the safety and health of our passengers and personnel,” Ng said. Lorenz S. Marasigan

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, August 4, 2022 B1

Core income of MPIC rises as economy picks up pace By VG Cabuag

@villygc

onglomerate Metro Pacific Investments Corp. (MPIC) on Wednesday said its core net income rose 24 percent to P7.5 billion in the first half from last year’s P6 billion. The company said its constituent companies—spanning from energy distribution and generation, water to toll roads, hospitals and light rail operations—delivered a 15-percent increase in contribution from operations, mainly driven by a strong recovery in road traffic and growth in power consumption as more industries ramped up operating capacity. Power accounted for P5.9 billion or 60 percent of net operat-

ing income, toll roads contributed P2.5 billion or 26 percent, water contributed P1.4 billion or 15 percent and the other businesses, mainly real estate, hospitals, fuel storage and light rail, incurred a net loss of P35 million. Revenues rose 25 percent to P243.3 billion from last year’s P194.7 billion. This, however, excludes Manila Electric Co.’s pass-through revenues. Light Rail Manila Corp., which operates the 20-station LRT Line

1, reported a core net loss of P329 million due to the start of the amortization of concession assets and borrowing costs. Company chairman Manuel V. Pangilinan said the current headwinds make it difficult to predict how the second half of the year would turn out, but he said MPIC’s earnings would be better in 2022 and “may approach the 2019” figures at P15 billion in income. “While we are growing our sales and core profitability, we remain grounded by our North Star—to contribute to national progress and improve the lives of Filipinos,” Pangilinan said. “We remain steadfast in our pursuit of other potential growth areas, particularly in agriculture, tourism and logistics, but we are still mindful of the crucial role that MPIC plays in Philippine infrastructure and enabling the progress that our government envisions. I am hopeful that the positive tone toward infrastructure investment set by the new

administration will lead to accelerating development for our country.” The company said average interest rates on borrowings have been reduced and resulted in a 12-percent decline in net interest costs in the first half, after the company made its re-rating and refinancing of expensive debt facilities ahead of the current rising interest rate environment. Reported net income attributable to the parent reached P9.5 billion, lower by 9 percent from the previous year when the company reported a gain from the sale of Global Business Power and Don Muang Tollways. “Our collective efforts across the group, championed by our board and our sustainability council, have allowed us to have a pervasive impact in our respective areas of influence. Embedding sustainability in all aspects of our business resonates with our people and translates into better and more purposeful service to our customers,” said June Cheryl A. Cabal-Revilla, the company’s CFO. “This is exactly the kind of ripple effect that we hope to achieve with our sustainability initiatives.”

SMIC income hits ₧25.5B in H1 S

M I n v e s t m e nt s C o r p. (SMIC), the holding firm o f t h e S y f a m i l y, o n Wednesday said its income rose 27 percent to P25.5 billion in the first half from last year’s P20.1 billion, as consumers are again shopping in brick and mortar stores. Consolidated revenues rose 2 3 p e rc e nt t o P 2 3 8 . 5 b i l lion from the previous year’s P193.5 billion. “Our financial performance was led by strong consumer spending across all categories and formats of our retail business and the return of crowds in malls. Despite rising inf lation, we are encouraged to see shoppers’ robust spending in the first half. This is a bright spot in the Philippines and in the region amid global headwinds,” said Frederic C. D yBu nc io, SM IC pre s id e nt and CEO. In terms of net earnings, banks accounted for 48 percent, followed by property at 26 percent, retail at 20 percent and other por tfolio investments at 6 percent. The company said consumers have returned to its stores,

which drove retail growth. SM Retail reported revenues of P163.7 billion, higher by 18 percent from the previous year’s P138.2 billion, driven by higher foot traffic in retail stores and malls as well as renewed vigor in shopping in the department stores. The larger food retail form at s a l so benef it ted f rom higher foot traffic in malls, the company said. Retail net income a lmost doubled to P7 billion from the previous P3.6 billion, benefitting from cost reductions and efficiencies across all formats. “ T his consumer-dr iven momentum brings more optimism moving forward as we keep innovating on our retail offerings to ensure an excellent shopping experience for the Filipino consumer,” DyBuncio said.

In January to June, SM Retail and its affiliates added 147 stores. This brought total stores to 3,336 which include 69 department stores, 1,543 specialty retail, 62 supermarkets, 52 hypermarkets, 214 under the Savemore brand, 1,320 Alfamart convenience stores and 75 WalterMart stores. SM Prime Holdings Inc. saw a 21-percent increase in consolidated net income to P14.1 billion from P11.6 billion last year. Lender BDO Unibank Inc. delivered P23.9 billion in net income for the period, up 12 percent from the previous year on strong results across its core businesses. SMIC said its portfolio companies in the different industries also delivered growth for the period as these also benefited from the reopening of the economy. VG Cabuag

Samat seeks DOE nod for LNG terminal

he Department of Energy (DOE) has received an application from Samat LNG Corp. to proceed with its plan to put up a liquefied natural gas (LNG) terminal in Mariveles, Bataan. “The company is seeking the necessary regulatory approvals and investment incentives which will enable to proceed with the development and construction of the Mariveles LNG Terminal together with the marine jetty, trucking operations and satellite installations and all related activities to bring LNG securely and safely to all of its customers for the long term,” the company said on its web site. A check with the DOE confirmed that Samat LNG applied for a Notice to Proceed (NTP) with the agency.

“It’s a new applicant so they filed for an NTP,” said DOE Director for Oil Industry Management Bureau Rino Abad. Should it proceed with its LNG plans, Samat Mariveles LNG said it would be the first small scale LNG terminal in the country. The proposed terminal would be designed to handle approximately 200,000-400,000 tons of LNG annually. The company is led by its president and founder Captain Roy Watson, who is based in Manila. Samat LNG was established in 2020 in the Philippines to develop, own and operate LNG import terminals together with the receiving, storage, distribution and wholesale marketing of LNG into the Philippines primarily to industrial and commercial customers for power supply and transportation fuel.

Six LNG projects have already secured the green light of the DOE. These are FGEN LNG Corp.’s Interim FRSU (Floating Storage Regasification Unit) and LNG ter mina l; Linseed Field Power Corp.’s FSRU and onshore regasification; Energy World Corp.’s LNG storage and regasification terminal project, the FSRU LNG terminal of Excelerate Energy L.P., the FSRU terminal project of Shell Energy Philippines Inc., and the FSRU terminal of Vires Energy Corp. First Gen said last June that it has requested the DOE to extend the validity of its permit to build its LNG offshore terminal to March 23, 2023 from September 23, 2022. T he LNG project of Linse e d , me a nwh i le, cou ld b e commissioned within the year. Lenie Lectura

SMPC profit in Q2 more than doubles By Lenie Lectura @llectura

ONSU NJ I-led Sem i ra ra Mining and Power Corp. (SMPC) booked a 171-percent increase in net income in the second quarter to P10.8 billion from the P4 billion reported a year ago. All-time high coal selling prices and higher spot electricity sales volume helped boost the company’s numbers, SMPC said. Contributions from the coal segment grew by 195 percent from P3 billion to P9 billion while SEM-Calaca Power Corp. (SCPC) accounted for P1 billion, up 81 percent from P581 million. Southwest Luzon Power Generation Corporation (SLPGC) contributed P742 million, a 107-percent increase from P359 million. SMPC said total coal shipments from April to June dropped by 24 percent to 3.7 million metric tons (MMT) from 4.9 MMT as China imposed Covid-19 lockdowns and shifted to Russian coal. Also, export sales plunged by 44 percent to 1.8 MMT from 3.2 MMT while domestic sales grew by 12 percent to 1.9 MMT from 1.7 MMT. “As expected, we had a weaker performance quarter over quarter because of the China lockdowns but compared to last year, we did very well,” said SMPC President and

COO Maria Cristina C. Gotianun. “We maintain our view that the second semester will be anemic because of market volatility and unfavorable weather conditions.” Still, SMPC booked a126-percent increase in average selling prices from P2,393 to P5,399, the highest for any given quarter. Heavy rainfall and higher stripping activities curbed coal production, dropping 21 percent to 3.4 MMT from 4.3 MMT. This, together with lower sales volume, raised high-grade coal inventory by 50 percent from 1 MMT to 1.5 MMT. In the power business, overall gross generation in the second quarter was mostly flat at 984 gigawatthours (GWh) as SCPC Unit 2 remained on forced outage because of a defective generator stator. Total electricity sales declined by 9 percent from 987 GWh to 900 GWh, 56 percent of which was sold to the spot market. The remaining 393 GWh was sold through bilateral contracts. High uncontracted capacity allowed SMPC to boost spot electricity sales by 188 percent from 176 GWh to 507 GWh. Average spot selling prices remained elevated at P6.91 versus P6.87 last year. Total spot purchases declined by 60 percent to P245 million from P617 million on higher plant availability, which improved by 8 percent to 65 percent from 60 percent.

Thursday, August 4, 2022

Companies BusinessMirror

SMFB income up 8% in H1 despite higher input costs

By VG Cabuag

@villygc

an Miguel Food and Beverage Inc. (SMFB) said its income in the first half grew 8 percent to P18.8 billion from last year’s P17.36 billion, as the company said it posted a record-breaking performance since its consolidation in 2018 despite higher prices and currency depreciation. Consolidated revenues grew 17 percent to P172.1 billion from last year’s P146.79 billion, driven by gains in volume and pricing adjustment across the product portfolios of its beer, spirits and food divisions to mitigate the impacts of input cost increases. “Our financial position and long-term fundamentals remain strong, notwithstanding current macroeconomic headwinds. We remain committed to delivering operational excellence and value to all our stakeholders, as well as good quality products for the everyday needs of all our consumers,” said Ramon S. Ang, SMFB president and CEO. The company’s beer business, San Miguel Brewery Inc., reported consolidated revenues of P65 billion, 20 percent higher than

last year on account of improved volumes and a price increase implemented in October last year. Income from operations jumped 22 percent to P14.7 billion. The beer business, it said, implemented various campaigns in key channels after restrictions eased following the Covid-19 Omicron surge in January with more on-premise outlets reopening. As a result, its domestic operations repor ted volume improvement of 20 percent quarter-on-quarter, the company said. It s i nt e r n a t i o n a l operations registered strong volume improvements, particularly in its Thailand, Indonesia and export units.

Local telcos get Ookla’s nod By Lorenz S. Marasigan

@lorenzmarasigan

okla has awarded Smart Communications Inc., PLDT Inc., and Converge ICT Solutions Inc. with separate laurels for coverage, speed, and customer rating, respectively. In its latest Speedtest Awards, Ookla said Smart has

the best network coverage for the first half of 2022, achieving a coverage score of 794, beating competitors Globe Telecom Inc.’s 732 points, and Dito Telecommunity Corp.’s 363 points. The Coverage Score captures both the number of locations in which an operator offers service and the quality of service in each location. Ookla added that of the scans from Smart subscribers, a total of 99 percent had general service, while 90.8 percent had 4G service. “This new citation not only reinforces Smart’s network superiority but also reflects our strong commitment to continuously improve our network so we can deliver a world-class mobile experience to our customers,” said Francis E. Flores, SVP and Head of Consumer Business Group z Individual. He added: “Having the Best Mobile Coverage means our subscribers nationwide can truly rely on Smart to connect online and achieve more in our fast-paced, hyperconnected world—whether for work, school, e-commerce, social media, or entertainment.” Ookla also proclaimed PLDT as the winner for its Fastest Fixed Network Award for the first half of 2022. To win this award, PLDT achieved a Speed Score of 77.91, with top download speeds of 210.83 Mbps and top upload speeds of 234.21 Mbps. Converge trailed behind at 68.91 points, followed by Globe at 43.39 points, and Sky Broadband, 39 points. Lastly, Converge was named as the Top-Rated Fixed Network provider in Ookla’s latest report. It garnered a score of 3.5 points. Globe came in second at 3.4 points, PLDT at 3 points, and Sky at 2.8 points.

Mea nwh i le, revenues of t he spirits business under Ginebra San Miguel Inc. jumped 14 percent to P23.1 billion, driven by a 9-percent increase in volumes and modest price increases. Strong thematic campaigns, consumer promotions, a broadening d istr ibution network, and efficiencies all supported growth. Income from operations increased 25 percent to P3.3 billion. San Miguel Food, meanwhile, also sustained its growth from the first quarter and registered consolidated revenues of P84 billion, a 16-percent increase over the prior year driven by strong volume growth in certain product categories and substantial price pass-ons to partly absorb increasing raw material costs. Its animal nutrition and health and f lour segments continued to post strong revenue growth, with bot h volumes and pr ices posting double-digit increases, while the prepared and packaged food business remained resilient with

mutual funds

moderate growth in both volume and price. Its poultry segment, meanwhile, was faced with supply challenges due to erratic weather conditions, constraining its ability to meet a surge in foodservice demand as on-premise dining bounced back strongly. The company said tight supply pulled up prices and shored up its performance. Consolidated operating income reached P8.6 billion or a 3-percent improvement from last year. “ The food business has been actively working to drive its costs down by improving efficiencies, enhancing productivity, and maximizing utilization of its expansion facilities,” the company said, adding that the global macroeconomic outlook remains uncertain and the remainder of the year may continue to be challenging. “SMFB will continue to implement various strategies and efficiencies to mitigate cost pressures and help protect profits.”

August 3, 2022

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds Primarily invested in Peso securities (shares) ALFM Growth Fund, Inc. -a 201.63 -3.16% -9.15% -5.87% -13.5% ATRAM Alpha Opportunity Fund, Inc. -a 1.3153 -2.97% -7.25% -3.83% -20.97% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7886 -2.59% -12.55% -8.33% -13.87% Climbs Share Capital Equity Investment Fund Corp. -a 0.6963 -5.59% -10.43% n.a. -7.96% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6638 -7.1% -9.39% n.a. -13.89% First Metro Save and Learn Equity Fund,Inc. -a 4.5851 0.11% -6.22% -3.95% -11.53% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6833 -0.18% -8.57% -6.56% -12.77% MBG Equity Investment Fund, Inc. -a 77.47 -18.91% -13.76% n.a. -17.96% PAMI Equity Index Fund, Inc. -a 41.9508 -1.07% -7.7% -4.25% -12.83% Philam Strategic Growth Fund, Inc. -a 431.71 -3.59% -8.16% -4.62% -13.78% Philequity Dividend Yield Fund, Inc. -a 1.2128 10.46% -3.57% -1.52% -10.58% Philequity Fund, Inc. -a 31.9377 -0.1% -6.95% -3.41% -12.73% Philequity MSCI Philippine Index Fund, Inc. -a 0.8286 0.23% -8.02% n.a. -11.98% Philequity PSE Index Fund Inc. -a 4.3461 -0.09% -7.07% -3.6% -12.39% Philippine Stock Index Fund Corp. -a 724.32 -0.49% -7.13% -3.66% -12.57% Soldivo Strategic Growth Fund, Inc. -a 0.6383 -4.17% -12.4% -6.71% -15.19% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2266 -3.39% -10.08% -5.32% -14.54% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8243 -0.79% -7.42% -3.92% -12.73% United Fund, Inc. -a 3.0235 -0.83% -7.41% -3.12% -12.04% Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a 1.0106 -2.07% n.a. n.a. -13.08% Philippine Stock Index Fund Corp. -a 881.62 n.a. n.a. n.a. n.a. Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 97.602 -0.11% -6.93% -3.29% -12.45% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.9052 -23.95% -2.28% -2.71% -19.64% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5153 -16.62% 4.82% 5.01% -17.93% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.585 -3.34% -3.51% -2.23% -6.32% 0.37% -3.12% -1.95% -6.15% ATRAM Philippine Balanced Fund, Inc. -a 2.1412 First Metro Save and Learn Balanced Fund Inc. -a 2.5012 0.29% -2.5% -1.17% -7.05% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1943 5.08% n.a. n.a. -7.03% NCM Mutual Fund of the Phils., Inc. -a 1.8748 -0.97% -1.61% -0.31% -7.04% PAMI Horizon Fund, Inc. -a 3.3993 -4.5% -3.92% -1.9% -9.72% Philam Fund, Inc. -a 15.0343 -5.68% -4.42% -2.21% -10.75% Solidaritas Fund, Inc. -a 1.9486 -2.02% -3.67% -1.92% -8.15% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2779 -3.42% -6.12% -2.86% -10.12% 0.8646 2.94% -5.18% -2.17% -9.39% Sun Life Prosperity Dynamic Fund, Inc. -a Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9161 -4.36% -4.05% n.a. -7.45% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8188 -4.97% -7.45% n.a. -13.31% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8071 -4.39% -7.8% n.a. -13.58% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.0344 -10.21% -2.87% -0.81% -9.33% PAMI Asia Balanced Fund, Inc. -b $0.924 -15.65% -2.49% -1.74% -13.41% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0847 -14.47% 2.51% 3.22% -14.94% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.0461 -13.22% -0.8% 0.43% -12.72% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 374.81 0.49% 2.11% 2.31% 0.14% ATRAM Corporate Bond Fund, Inc. -a 1.8986 -1.29% -0.15% 0.14% 0.74% Cocolife Fixed Income Fund, Inc. -a 3.2448 0.28% 2% 3.29% 0.02% Ekklesia Mutual Fund Inc. -a 2.1868 -3.64% -0.24% 0.78% -2.87% -0.69% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4092 -1.44% 1.06% 1.69% Philam Bond Fund, Inc. -a 4.2052 -6.4% -0.41% 0.6% -4.33% Philam Managed Income Fund, Inc. -a 1.3128 -0.49% 2.23% 2.66% -0.48% Philequity Peso Bond Fund, Inc. -a 3.9123 -1.82% 1.78% 2.39% -1.35% Soldivo Bond Fund, Inc. -a 1.0164 -2.1% 2.37% 1.83% -1.15% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1529 -2.05% 1.62% 2.73% -1.08% Sun Life Prosperity GS Fund, Inc. -a 1.7047 -2.72% 0.76% 2.04% -1.5% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $482.68 -0.91% 1.6% 1.75% -1.41% ALFM Euro Bond Fund, Inc. -a Є211.51 -3.99% -1.17% -0.06% -3.86% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1043 -7.94% -2.42% -0.41% -8.27% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0243 -6.9% -1.72% -0.49% -6.54% PAMI Global Bond Fund, Inc -b $0.9221 -12.21% -5.37% -3.08% -9.85% Philam Dollar Bond Fund, Inc. -a $2.2744 -9.72% -1.16% 0.36% -9.23% Philequity Dollar Income Fund Inc. -a $0.0604585 -4.11% 0.56% 1.09% -2.94% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.8876 - 9.41% -2.28% -0.87% -9.66% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 132.37 1.5% 2.17% 2.54% 0.9% First Metro Save and Learn Money Market Fund, Inc. -a 1.0649 1.04% 1.53% n.a. 0.68% Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3278 1.59% 2.06% 2.46% 0.93% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0647 0.62% 1.11% n.a. 0.39% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a 45.3558 n.a. n.a. n.a. n.a. -6.56% Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2922 -1.64% n.a. n.a. Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a $0.842 -14.95% n.a. n.a. -13.2% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

August 3, 2022

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

ASIA UNITED 43.25 44.3 43.2 43.25 43.2 43.25 1,000 43,215 115.6 117.3 113.9 117.3 113.2 117.3 2,916,320 336,182,212 30,189,004 BDO UNIBANK BANK COMMERCE 8 8.1 8.1 8.1 8 8.1 52,400 419,993 92.95 93 92 93.5 90.3 93 1,483,700 137,482,444.5 (30,649,911) BANK PH ISLANDS CHINABANK 27.75 27.8 27.7 27.75 27.7 27.75 55,100 1,527,960 591,075 6.75 6.8 6.73 6.8 6.73 6.8 126,600 858,622 (496,213) EAST WEST BANK METROBANK 49 49.15 48.9 49.45 48.1 49 1,551,000 76,012,030 (890,685) 15.26 16.2 16 16 16 16 500 8,000 PBCOM PHIL NATL BANK 17.5 17.56 17.58 17.8 17.4 17.5 460,100 8,078,506 228,420 PSBANK 55.3 57.45 55.3 55.3 55.3 55.3 160 8,848 19.7 19.8 19.8 19.8 19.8 19.8 1,000 19,800 RCBC SECURITY BANK 81 82 85.8 85.8 80.3 81 5,878,680 479,267,561 (186,007,296) 76.5 76.95 75 78.65 75 76.5 27,080 2,074,729.5 (1,037,860.5) UNION BANK BRIGHT KINDLE 1.72 1.77 1.73 1.77 1.72 1.77 99,000 173,440 3.42 3.49 3.44 3.49 3.42 3.49 111,000 381,070 COL FINANCIAL IREMIT 0.7 0.78 0.65 0.65 0.65 0.65 1,000 650 0.238 0.27 0.28 0.28 0.265 0.265 40,000 10,750 MEDCO HLDG 0.61 0.68 0.63 0.63 0.63 0.63 100,000 63,000 NTL REINSURANCE PHIL STOCK EXCH 168.6 169 168.8 169 168.8 169 1,470 248,216 1,688 0.73 0.82 0.73 0.73 0.73 0.73 1,000 730 VANTAGE INDUSTRIAL ACEN CORP 8.58 8.6 8.41 8.67 8.39 8.6 21,206,500 182,104,630 (1,443,972) ALSONS CONS 0.95 0.96 0.95 0.95 0.95 0.95 68,000 64,600 32.15 32.2 32.5 33.15 32.2 32.2 1,941,800 63,463,150 (6,370,020) ABOITIZ POWER RASLAG 1.78 1.8 1.79 1.81 1.75 1.8 5,765,000 10,153,940 1,550 0.415 0.42 0.41 0.425 0.405 0.415 3,650,000 1,512,450 BASIC ENERGY FIRST GEN 17.2 17.5 17.4 17.5 17.2 17.5 113,100 1,961,904 (345,204) 63.1 64.5 64.95 64.95 63 63.1 25,490 1,618,793.5 (1,438,886) FIRST PHIL HLDG MERALCO 312 313 324.6 327.8 309 312 973,690 307,422,980 (113,183,798) MANILA WATER 14.56 14.84 15.1 15.1 14.5 14.56 1,436,800 21,167,014 (14,043,190) 2.95 2.96 2.96 2.96 2.94 2.96 703,000 2,079,040 (1,485,920) PETRON PETROENERGY 4.78 4.94 4.93 4.95 4.93 4.95 15,000 74,100 (24,650) 9.59 9.6 9.59 9.6 9.59 9.6 4,900 47,001 PHX PETROLEUM SYNERGY GRID 12.2 12.28 12.3 12.36 12.2 12.2 2,326,000 28,575,944 208,706 17.8 18 17.88 18 17.52 18 177,700 3,180,854 (1,203,360) PILIPINAS SHELL SPC POWER 10.24 10.28 10.2 10.24 10.1 10.24 161,000 1,639,910 1.6 1.61 1.62 1.63 1.6 1.61 9,638,000 15,549,940 (61,200) SOLAR PH 15.7 18 18.04 18.04 18.02 18.02 200 3,606 VIVANT AGRINURTURE 5.3 5.32 5.28 5.46 5.2 5.32 362,600 1,928,215 270,390 2.51 2.52 2.55 2.66 2.5 2.51 1,106,000 2,780,500(2, 187,539.9995) AXELUM CENTURY FOOD 23.8 24.5 23.2 24.5 23.05 24.5 1,732,000 41,309,780 (13,505,005) 14.18 14.2 14.38 14.38 13.5 14.2 49,500 675,134 39,136 DEL MONTE DNL INDUS 6.99 7 6.98 7.02 6.96 7 1,866,100 13,060,720 (4,360,331) 19.1 19.12 18.96 19.16 18.96 19.12 18,097,500 346,088,926 140,000,282 EMPERADOR SMC FOODANDBEV 43.6 43.9 43 44 43 43.6 63,500 2,773,080 (480,210) FIGARO COFFEE 0.68 0.69 0.68 0.71 0.67 0.68 28,428,000 19,656,440 (840,000) 0.53 0.55 0.54 0.54 0.54 0.54 180,000 97,200 ALLIANCE SELECT FRUITAS HLDG 1.04 1.05 1.04 1.07 1.04 1.05 1,288,000 1,358,020 (21,000) 97.05 99 97 99 96.8 99 1,570 154,405 GINEBRA JOLLIBEE 207.4 211 205.8 211 205.2 211 381,510 79,644,982 (13,693,958) 1.17 1.18 1.17 1.18 1.16 1.17 3,881,000 4,541,690 3,823,560 KEEPERS HLDG LIBERTY FLOUR 17.12 18.8 17.02 17.02 17.02 17.02 500 8,510 4.5 4.62 4.63 4.63 4.46 4.5 57,000 256,630 MAXS GROUP MONDE NISSIN 15.04 15.1 14.88 15.26 14.82 15.1 5,154,700 77,652,576 30,684,334 SHAKEYS PIZZA 7.15 7.18 7.18 7.18 7.18 7.18 2,000 14,360 0.59 0.61 0.59 0.61 0.59 0.61 1,529,000 914,410 676,200 ROXAS AND CO RFM CORP 3.85 3.9 3.9 3.9 3.9 3.9 26,000 101,400 (101,400) 0.086 0.09 0.089 0.09 0.086 0.09 1,010,000 87,730 SWIFT FOODS UNIV ROBINA 124.2 124.8 121 124.8 120.4 124.8 3,021,840 373,847,678 72,030,191 0.58 0.6 0.58 0.6 0.57 0.6 41,000 23,840 7,409.9999 VITARICH VICTORIAS 2.49 2.67 2.49 2.49 2.47 2.47 436,000 1,077,160 1,025,050 45 55.8 46 55.9 46 55.9 22,800 1,268,590 CONCRETE B 0.69 0.7 0.7 0.71 0.69 0.69 1,179,000 821,850 (11,210) CEMEX HLDG EAGLE CEMENT 13.84 13.86 13.6 13.84 13.6 13.84 64,700 894,888 3.3 3.34 3.3 3.31 3.3 3.3 171,000 564,330 (270,600) EEI CORP HOLCIM 4.6 4.7 4.69 4.69 4.55 4.6 134,000 615,330 (9,200) 4.22 4.36 4.15 4.37 4.15 4.22 292,000 1,267,560 1,173,280 MEGAWIDE PHINMA 19.24 19.42 19.4 19.42 19.2 19.2 2,348,700 45,555,202 0.63 0.69 0.69 0.69 0.69 0.69 10,000 6,900 TKC METALS VULCAN INDL 0.84 0.85 0.89 0.89 0.85 0.85 664,000 569,020 1.4 1.42 1.42 1.43 1.4 1.4 457,000 640,900 15,400 CROWN ASIA 0.98 1.01 0.99 1 0.99 1 21,000 20,900 EUROMED CONCEPCION 17.7 18.2 17.46 18.2 17.46 18.2 1,900 33,470 1.68 1.7 1.62 1.74 1.62 1.7 7,167,000 12,229,160 (17,300) GREENERGY INTEGRATED MICR 7.11 7.24 6.83 7.25 6.82 7.24 443,800 3,137,126 (489,668) 0.69 0.7 0.71 0.71 0.69 0.71 33,000 22,890 IONICS PANASONIC 5.57 5.77 5.78 5.78 5.57 5.57 3,700 20,903 1.57 1.59 1.6 1.61 1.56 1.59 748,000 1,188,280 SFA SEMICON CIRTEK HLDG 3.18 3.19 3.22 3.23 3.14 3.19 2,231,000 7,131,970 (142,820)

HOLDING & FRIMS

ABACORE CAPITAL 2.09 2.1 2.05 2.11 2.02 2.1 18,978,000 39,442,330(6, 778,970.0004) 665 668.5 658 668.5 656.5 668.5 358,500 238,344,755 21,618,505 AYALA CORP ABOITIZ EQUITY 58.3 58.9 57.5 59.75 57.2 58.9 3,019,740 177,490,445.5 50,573,633 9.6 9.61 9.61 9.67 9.56 9.6 673,200 6,458,012 (3,495,679) ALLIANCE GLOBAL ANSCOR 8.25 8.5 8.4 8.4 8.25 8.25 14,800 123,785 0.72 0.78 0.78 0.78 0.78 0.78 1,000 780 ANGLO PHIL HLDG ATN HLDG A 0.375 0.385 0.4 0.405 0.365 0.375 5,010,000 1,905,250 0.4 0.44 0.4 0.4 0.4 0.4 40,000 16,000 ATN HLDG B COSCO CAPITAL 4.29 4.3 4.3 4.3 4.26 4.3 627,000 2,695,140 (743,290) DMCI HLDG 9.49 9.5 9.35 9.49 9.24 9.49 7,146,700 67,245,856 23,053,217 7 7.07 7 7 7 7 12,200 85,400 70,000 FILINVEST DEV GT CAPITAL 450 452 449.8 456.8 447.2 450 174,030 78,338,954 (46,496,410) 54.3 55.5 52.5 55.5 52.5 55.5 1,619,680 88,478,084 54,725,305.5 JG SUMMIT LODESTAR 0.55 0.56 0.54 0.56 0.54 0.56 33,000 17,840 2.98 3.02 2.91 2.98 2.9 2.98 57,000 166,340 38,700 LOPEZ HLDG LT GROUP 8.68 8.7 8.74 8.74 8.64 8.7 839,000 7,290,206 (1,339,780) 0.235 0.34 0.236 0.236 0.236 0.236 50,000 11,800 MABUHAY HLDG 3.64 3.68 3.73 3.73 3.64 3.64 10,096,000 37,003,670 (4,613,010) METRO PAC INV PRIME MEDIA 2.1 2.12 2.1 2.16 2.1 2.1 190,000 399,570 0.84 0.85 0.85 0.85 0.85 0.85 10,000 8,500 SOLID GROUP SM INVESTMENTS 793 795 772 798 765 795 353,400 278,009,015 (9,438,405) 103.7 104.5 105 105 103.1 104.5 5,031,900 525,817,584 522,500,773 SAN MIGUEL CORP WELLEX INDUS 0.25 0.29 0.25 0.25 0.25 0.25 50,000 12,500 PROPERTY AYALA LAND 25.9 25.95 26.1 26.6 25.8 25.95 12,255,100 320,952,400 57,946,695 AYALA LAND LOG 3.26 3.29 3.34 3.34 3.21 3.26 357,000 1,173,920 (20,040) 13.38 14.4 14.46 14.46 14.4 14.4 300 4,326 ALTUS PROP ARANETA PROP 1.31 1.37 1.33 1.39 1.3 1.39 1,028,000 1,359,480 36.4 36.5 36.5 36.65 36.4 36.4 442,500 16,149,105 (6,814,645) AREIT RT A BROWN 0.74 0.75 0.74 0.74 0.74 0.74 116,000 85,840 0.081 0.085 0.082 0.089 0.081 0.085 2,750,000 227,670 CROWN EQUITIES CEB LANDMASTERS 2.43 2.47 2.48 2.48 2.42 2.43 242,000 594,090 4,900 CENTURY PROP 0.385 0.39 0.39 0.39 0.39 0.39 10,000 3,900 2.39 2.4 2.41 2.41 2.39 2.4 15,162,000 36,407,920 671,020 CITICORE RT DOUBLEDRAGON 7.5 7.7 7.82 7.82 7.45 7.5 702,400 5,301,368 (47,438) 1.52 1.53 1.52 1.53 1.5 1.53 1,152,000 1,738,000 9,160 DDMP RT DM WENCESLAO 6.84 6.85 6.84 6.85 6.84 6.85 16,200 110,948 0.198 0.204 0.194 0.214 0.194 0.204 1,100,000 214,680 EMPIRE EAST EVER GOTESCO 0.28 0.285 0.295 0.295 0.28 0.285 18,240,000 5,253,000 6.79 6.8 6.8 6.8 6.76 6.79 432,000 2,926,121 13,594 FILINVEST RT 0.9 0.91 0.91 0.91 0.9 0.91 303,000 274,820 (176,130) FILINVEST LAND GLOBAL ESTATE 0.85 0.86 0.85 0.85 0.85 0.85 235,000 199,750 9.11 9.2 9.11 9.2 9.11 9.2 2,600 23,695 8990 HLDG GOLDEN MV 632 670 651.5 670 651.5 670 250 165,650 1.02 1.05 1.04 1.06 1.04 1.05 207,000 217,710 PHIL INFRADEV CITY AND LAND 0.71 0.72 0.71 0.72 0.71 0.72 32,000 22,990 2.34 2.35 2.36 2.4 2.33 2.34 14,840,000 35,114,490 7,496,030 MEGAWORLD MRC ALLIED 0.177 0.179 0.177 0.178 0.177 0.177 1,080,000 191,470 8,850 MREIT RT 15.86 15.9 15.94 15.94 15.76 15.86 503,600 7,991,916 (3,476,490) 0.38 0.385 0.375 0.385 0.37 0.385 180,000 67,650 PHIL ESTATES PRIMEX CORP 2.22 2.23 2.17 2.22 2.15 2.22 2,059,000 4,529,790 (2,190) 6.38 6.39 6.39 6.45 6.36 6.39 2,699,200 17,272,269 2,317,813 RL COMM RT ROBINSONS LAND 17.6 17.8 17.86 17.86 17.5 17.8 1,155,900 20,512,232 574,052 0.21 0.232 0.236 0.236 0.215 0.232 320,000 69,300 PHIL REALTY ROCKWELL 1.26 1.31 1.26 1.26 1.26 1.26 1,000 1,260 2.86 3 2.73 3.02 2.73 3.02 7,000 20,800 STA LUCIA LAND SM PRIME HLDG 36.9 37 36.95 37.05 36.4 37 4,594,100 169,769,080 3,476,930 VISTAMALLS 3.2 3.25 3.33 3.33 3.2 3.2 7,000 22,680 1.02 1.04 1.02 1.04 1.02 1.04 126,000 128,810 SUNTRUST RESORT VISTA LAND 1.95 1.96 1.97 1.97 1.94 1.95 438,000 855,830 (484,400) 1.74 1.75 1.74 1.75 1.73 1.75 935,000 1,632,300 17,300 VISTAREIT RT SERVICES ABS CBN 9.2 9.23 9.45 9.45 9.1 9.2 60,700 562,352 GMA NETWORK 10.3 10.34 10.4 10.4 10.28 10.36 204,000 2,112,422 0.32 0.345 0.32 0.32 0.32 0.32 30,000 9,600 MANILA BULLETIN GLOBE TELECOM 2,068 2,070 2056 2,084 2,052 2,070 30,665 63,438,650 (6,644,400) 1,705 1,720 1728 1,728 1,686 1,720 56,590 96,780,615 6,560,320 PLDT APOLLO GLOBAL 0.034 0.035 0.035 0.035 0.034 0.034 20,300,000 704,300 19.94 20.05 20 20.45 19.6 20.05 10,399,100 207,899,644 15,178,140 CONVERGE DFNN INC 3.34 3.42 3.5 3.5 3.33 3.34 210,000 708,310 33,500 DITO CME HLDG 3.8 3.82 3.82 3.85 3.8 3.8 1,611,000 6,148,030 140,740 1.13 1.34 1.13 1.13 1.13 1.13 2,000 2,260 IMPERIAL NOW CORP 1.17 1.19 1.18 1.21 1.18 1.19 1,479,000 1,760,010 (356,000) 0.27 0.275 0.27 0.27 0.265 0.27 580,000 156,400 (59,400) TRANSPACIFIC BR 2GO GROUP 6.4 6.49 6.25 6.25 6.25 6.25 6,200 38,750 13.6 13.96 13.96 13.96 13.62 13.62 2,100 28,636 (27,240) ASIAN TERMINALS CHELSEA 1.15 1.18 1.16 1.19 1.15 1.18 255,000 298,010 21,849.9999 41.45 41.5 41.4 41.5 41 41.45 16,800 693,515 8,290 CEBU AIR 185 185.6 188.5 189.8 184.7 185 1,201,300 224,298,495 40,279,026 INTL CONTAINER MACROASIA 4.2 4.21 4.17 4.21 4.16 4.2 83,000 346,890 5.54 5.84 5.54 5.54 5.54 5.54 1,600 8,864 PAL HLDG HARBOR STAR 1.12 1.13 1.14 1.14 1.11 1.11 396,000 445,620 0.076 0.077 0.075 0.077 0.075 0.076 15,300,000 1,152,480 (2,280) BOULEVARD HLDG WATERFRONT 0.45 0.47 0.45 0.45 0.45 0.45 50,000 22,500 0.315 0.32 0.315 0.32 0.315 0.315 940,000 296,600 (249,050) STI HLDG BELLE CORP 1.17 1.18 1.19 1.2 1.15 1.18 2,566,000 3,018,150 (153,100) BLOOMBERRY 6.21 6.3 6.15 6.3 6.1 6.3 2,614,700 16,345,604 34,200 1.4 1.48 1.4 1.4 1.4 1.4 21,000 29,400 PACIFIC ONLINE LEISURE AND RES 1.39 1.41 1.42 1.42 1.4 1.41 2,264,000 3,173,970 0.77 0.78 0.77 0.79 0.77 0.77 494,000 383,690 (8,000) PH RESORTS GRP PREMIUM LEISURE 0.415 0.42 0.415 0.415 0.415 0.415 1,010,000 419,150 3.25 3.26 3.36 3.36 3.26 3.26 3,736,000 12,388,220 (2,418,570) PHILWEB ALLDAY 0.305 0.31 0.3 0.31 0.3 0.31 11,820,000 3,619,300 709,450 4.66 4.85 5 5 4.85 4.85 960,700 4,673,278 14,600 ALLHOME METRO RETAIL 1.45 1.46 1.45 1.47 1.45 1.45 68,000 98,740 30.6 30.9 30.2 31.2 30.15 30.6 1,519,000 46,609,690 (9,946,630) PUREGOLD 57.45 57.8 57 58 56.9 57.8 348,080 20,024,362.5 11,048,154.5 ROBINSONS RTL PHIL SEVEN CORP 65.5 66.7 67.7 67.7 66 66 680 45,221 (13,300) 1.39 1.4 1.41 1.42 1.39 1.4 799,000 1,115,980 306,730 SSI GROUP WILCON DEPOT 27.95 28.4 27 28.45 27 28.4 2,358,800 66,446,605 13,314,805 0.191 0.2 0.2 0.2 0.2 0.2 100,000 20,000 APC GROUP MEDILINES 0.72 0.73 0.72 0.74 0.72 0.73 455,000 330,040 14,400 0.395 0.4 0.4 0.405 0.395 0.395 2,200,000 872,750 (79,050) PRMIERE HORIZON MINING & OIL ATOK 6.9 6.91 6.92 6.94 6.9 6.9 31,800 219,524 APEX MINING 1.54 1.56 1.56 1.59 1.54 1.56 2,095,000 3,277,380 (133,980) 4.66 4.7 4.62 4.7 4.62 4.7 96,000 449,440 ATLAS MINING BENGUET A 5 5.03 5 5.03 5 5.03 11,100 55,593 2.72 2.73 2.7 2.72 2.7 2.72 450,000 1,220,500 CENTURY PEAK FERRONICKEL 2.32 2.33 2.37 2.37 2.32 2.33 1,100,000 2,567,350 4,710 0.135 0.139 0.137 0.14 0.133 0.134 4,070,000 548,940 LEPANTO A LEPANTO B 0.133 0.138 0.133 0.133 0.133 0.133 30,000 3,990 0.0096 0.0098 0 0.0095 0.0097 0.0095 0.0097 7,000,000 67,700 MANILA MINING A 0.0092 0.0099 0 0.0094 0.0094 0.0092 0.0092 25,000,000 230,900 MANILA MINING B MARCVENTURES 1.4 1.41 1.39 1.43 1.39 1.41 1,010,000 1,419,690 (13,899.9999) 0.9 0.95 0.9 0.9 0.9 0.9 1,000 900 NIHAO NICKEL ASIA 5.84 5.85 5.81 5.95 5.73 5.85 4,653,300 27,334,317 (1,357,950) 0.77 0.79 0.8 0.8 0.77 0.79 386,000 300,840 ORNTL PENINSULA PX MINING 3.15 3.16 3.2 3.2 3.13 3.16 1,781,000 5,613,690 (913,920) 40.85 40.9 40.2 40.85 39.7 40.85 7,330,900 296,182,615 113,411,310 SEMIRARA MINING 0.0058 0.0059 0 0.0059 0.0059 0.0059 0.0059 6,000,000 35,400 UNITED PARAGON ACE ENEXOR 13.98 14 14 14 13.82 13.98 226,000 3,159,226 (39,216) 0.011 0.012 0.011 0.011 0.01 0.011 5,200,000 56,200 ORNTL PETROL A PHILODRILL 0.0085 0.0087 0 0.0086 0.0086 0.0085 0.0085 13,000,000 110,800 5.62 5.63 5.95 5.95 5.6 5.63 483,500 2,745,462 26,567 PXP ENERGY PREFFERED HOUSE PREF B 69 98.5 98.5 98.5 98.5 98.5 10 985 HOUSE PREF A 99 101.3 101.3 101.3 101.3 101.3 240 24,312 505 508 505 505 505 505 470 237,350 ALCO PREF D AC PREF B2R 496.6 500 500 500 500 500 40 20,000 41.15 41.75 41.05 41.15 41 41.15 3,100 127,520 CEB PREF CPG PREF A 99.15 101 100.5 101 100.5 101 450 45,250 98.05 99 99 99 98 98 1,300 127,638 DD PREF EEI PREF A 100.6 100.6 100.6 100.6 100.6 5,000 503,000 106 107 107 107 107 107 3,840 410,880 EEI PREF B 975 1,014 975 975 975 975 2,070 2,018,250 GTCAP PREF A MWIDE PREF 2A 95.05 99.75 95 95 95 95 20 1,900 75.05 79 75 80 75 80 24,820 1,911,215.5 PNX PREF 3B PNX PREF 4 687 706 700 708 688 706 3,270 2,281,125 35,000 1,035 1,050 1035 1,050 1,035 1,050 40 41,700 PCOR PREF 3A SMC PREF 2F 76.05 76.45 76.4 76.4 76.1 76.1 26,600 2,025,235 72.75 73.85 73 73 73 73 1,000 73,000 SMC PREF 2J 71.3 73.7 73.9 73.9 71.25 73.7 45,060 3,314,101.5 SMC PREF 2K TECH PREF B2D 55.25 55.8 55.7 55.7 55.5 55.5 6,850 381,255 -

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR 8.7 9.38 8.6 8.6 8.6 8.6 200 1,720 10.1 10.48 10.04 10.04 10.04 10.04 5,000 50,200 4,015.9999 GMA HLDG PDR

WARRANTS TECH WARRANT 0.68 0.69 0.7 0.7 0.67 0.69 523,000 359,710

SMALL & MEDIUM ENTERPRISES

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS KEPWEALTH MERRYMART XURPAS

0.66 1.01 0.85 0.71 2.06 1.23 0.3

0.67 1.02 0.86 0.73 2.4 1.25 0.315

0.68 1.02 0.86 0.71 2.32 1.23 0.31

0.69 1.03 0.86 0.73 2.4 1.25 0.31

0.66 1.01 0.85 0.71 2.32 1.22 0.3

0.67 1.02 0.85 0.73 2.4 1.23 0.3

3,875,000 1,496,000 275,000 163,000 11,000 416,000 130,000

2,632,350 1,527,140 235,250 116,370 26,000 513,680 39,300

309,000 2,440 -

EXHANGE TRADE FUNDS FIRST METRO ETF

98.3

97.5

100

42,260

4,157,933

83,522.5

www.news.businessmirror@gmail.com

Banking&Finance

LandBank H1 income grew 94% to ₧20.3B By Bianca Cuaresma @BcuaresmaBM

tate-lender Land Bank of the Philippines reported on Wednesday a 94-percent growth in its net income in the first half of the year, along with doubledigit growth in assets and deposits. The bank said its net income reached P20.3 billion in the first six months of 2022, up from the P10.3 billion in the same period last year. In a statement, the bank attributed the rise in its net income to “prudent management” of the cost of funds as well as sustained interest income from loans and investments. LandBank also said its total assets in the first half of the year grew by 11.8 percent to P2.8 trillion, as propelled by deposits amounting to P2.5 trillion, up 10.1 percent yearon-year. “LandBank’s robust financial performance will continue to drive

its intensified assistance to key industries, especially the agriculture sector, in support of the country’s continuing recovery,” LandBank President and CEO Cecilia C. Borromeo said. “We will also build on this growth momentum to further our efforts to rebuild local communities, advance financial inclusion, and support the National Government’s development agenda,” Borromeo added. The government sector continues to account for the bulk of Land Bank’s total deposits at 62 percent or P1.5 trillion, while the private sector comprised the remaining 38 percent share amounting to P930 billion. LandBank also posted modest capital growth year-on-year at 1.9 percent to P206.5 billion. The bank’s return on equity was at 15.43 percent, return on assets at 1.19 percent, and net interest margin at 2.92 percent.

BusinessMirror

Editor: Dennis D. Estopace • Thursday, August 4, 2022

Marcos to LGUs: Tap PPP as project-financing mode

By Bernadette D. Nicolas

@BNicolasBM

RESIDENT Ferdinand R. Marcos Jr. urged local government units to be open to public-private partnerships (PPP) as a mode of financing for their projects. “I think this is the way forward, and I encourage all our local government units to be open to the possibilities of PPPs; to have PPPs, especially in your areas,” the president said during a meeting with members of the

League of Cities of the Philippines. Digitalization would also play a big part in PPP, Marcos said, especially in pushing for the country’s economic recovery and digital transformation.

“Digitalization is going to be a very natural fit for something like PPPs,” the president added. In the same event, Marcos said he had received offers to fund big-ticket projects as he encouraged local chief executives to be the “driving force” behind the country’s economic transformation. There’s Official Development Assistance, private sector and joint venture, the president said. “You’re local government, you know that already. Local government generally cannot do it by itself. We have to find partners, we have to find local partners. We have to find investors.,” he told local executives. “Sanay na kayo diyan.” [You know that well.] In a bid to widen its fiscal space

without sacrificing infrastructrue goals, Finance Secretary Benjamin E. Diokno earlier said the government is eyeing to open around 90 government infrastructure projects to PPP. In his first State of the Nation Address, Marcos said PPPs will also be tapped for energy projects, specifically for small-scale nuclear projects apart from the usual infrastructure projects to help the country attain energy security. The Marcos administration vowed to sustain infrastructure spending at 5 percent to 6 percent of gross domestic product as it expressed commitment to expand the previous government’s “Build, Build, Build” program.

RCBC loses in damage suit vs Bangladesh central bank By Joel R. San Juan @jrsanjuan1573

BSP DONATIONS Bangko Sentral ng Pilipinas Governor Felipe M. Medalla (right) is shown giving checks of donations to five health institutions as part of the month-long celebration of its 29th anniversary and corporate social responsibility. In the photos are (first row, from left) Philippine Red Cross Chairman Richard Gordon, Philippine General Hospital Director Dr. Gerardo D. Legaspi, Philippine Heart Center Executive Director Dr. Joel M. Abanilla, (second row, from left) Lung Center of the Philippines Executive Director Dr. Vincent M. Balanag Jr., and National Kidney and Transplant Institute Executive Director (Officer-in-Charge) Dr. Romina A. Danguilan. CREDIT: Bangko Sentral ng Pilipinas

DOF unit fetes QC as top revenue collector in 2021

HE strong commitment of the Belmonte administration to good governance has remained the most important driver of Quezon City’s success in terms of tax collection, according to City Treasurer Edgar T. Villanueva. “Our citizens have seen significant improvements in the way they transact with the city. In various ways, they have expressed their satisfaction with the quality of programs and services that were made available to them. They trust that their hardearned money would translate into efficient public services for all,” Villanueva was quoted in a statement as saying. In a memo released by the Department of Finance-Bureau of Local Government Finance (DOF-BLGF), the city was named anew as the nation’s top-performing city in terms of local revenue generation after it collected P22.9 billion in taxes last year. The Quezon City government was also cited as a hall of famer under the special category “Local Revenue Generation Hall of Fame” after it consistently ranked first in tax collection among cities nationwide from

2018 to 2020. The city’s tax income came from real property tax, business tax and other taxes, such as amusement, transfer, and contractors among others. According to Villanueva, the streamlining efforts of the city, which includes the use of online services and the establishment of satellite offices for tax payment have helped ease processes and encouraged more business owners to settle their dues. The mayor’s decision to allow a staggered payment scheme for under-declared and undeclared business taxes instead of hefty penalties also encouraged businessmen to settle their obligations, Villanueva added. “We are honored to share this milestone with every QCitizen. Because of your continued trust and support of our administration, we have been able to increase our annual local revenue by more than P10 billion since we assumed office,” Mayor Maria Josefina Tanya “Joy” G. Belmonte was quoted in the statement as saying.

HE Regional Trial Court (RTC) of Makati City has ordered the dismissal of the more than P100-million damage suit filed against the Bank of Bangladesh by the Rizal Commercial Banking Corp. (RCBC). In a 9-page order, Makati City RTC Branch 142 Presiding Judge Rainald C. Paggao granted the motion for reconsideration filed by the Bangladesh central bank on October 28, 2021. The bank sought the reversal of the court’s orders issued on July 19, 2019, and October 18, 2021, which declared that summons was duly served against the Bank of Bangladesh through its executive head Hena Mohammad Razee Hasan. Hasan, however, refused to sign the summons when it was served on March 12, 2019, at Conrad Manila Hotel in Pasay. The trial court held that it has no jurisdiction over the Bangladesh Bank due to the lack of provisions in the Rules of Court for the service of summons to a foreign public cor-

poration. It did not give weight to the argument that since the Bangko Sentral ng Pilipinas (BSP) is not immune from suits per its charter and, thus, the defendant Bangladesh Bank is also not immune from suit. “Such may be. Nevertheless service of summons is an entirely different matter and is based on express and specific provisions under the Rules of Court,” the order read. “In short, which certain domestic procedural processes may be jurally presumed to mirror foreign ones, the said principle cannot be validly applied successfully where the domestic procedural provision themselves do not provide for jural template that could be regarded with minor effect as to presume that they have their foreign counterparts.” “If our own rules do not provide for service of summons to foreign public corporations, then there is no processual presumption to apply in favor of herein plaintiffs and against herein defendants,” it added. The court also said RCBC’s notion that extraterritorial service of summons may be undertaken against

Bangladesh Bank has no legal leg to stand on. Joining RCBC as plaintiff in the case was the bank’s National Sales Director Ismael S. Reyes who accused the Bangladeshi bank of maligning the reputation of RCBC when it called for a news conference to implicate the bank in the heist. The court noted that the rule on extraterritorial service of summons is provided for under Section 15 of the 1997 Rule of Civil Procedure and Section 17 of the 2019 Rules of Civil Procedure. It pointed out that based on the said provisions, it is not enough to allege that the defendant “does not reside and is not found in the Philippines” for the court to authorize the extraterritorial service of summons. The court said it must also be alleged that “the action affects the personal status of the plaintiff or relates to, or the subject of which is, property within the Philippines.” The foregoing discussions inescapably lead to the conclusion that this court has no jurisdiction over the person of the defendant (Ban-

DIY pay machines put up in Dasmariñas LGU areas

HE financial technology unit of the Manila Electric Co. (Meralco) announced it has put up self-service bills payment machines in select areas at the Local Government of Dasmariñas, Cavite. CIS Bayad Center Inc. said the installation of these machines stems from a partnership with Dasmariñas local government officials and BTI Payments Philippines Inc. (Pay&Go). The firm said the machines would be “stationed” at the Dasmariñas City Hall and City Hospital. “The partnership solidifies a one-stopshop bills payment solution, as it onboards more biller brands on Pay&Go’s interface covering services such as electric and water utility, cable, internet, government contributions, loan payments, school tuition fees, online shopping, insurance and many others,” CIS Bayad’s statement rea. “The sentiments of our customers are our number one priority,” Bayad President and CEO, Lawrence Y. Ferrer was quoted in the statement as saying. “We want to bring financial services closer

to our kababayans [compatriots] as we amplify our advocacy on financial inclusion. Today, residents of Dasmariñas can enjoy not only our over-the-counter and online payment services, but also access a user-friendly digital solution such as what Pay&Go generates.” “We always strive to enable more Filipinos to experience easier, simple access to transactional services,” BTI Payments Country Manager and Managing Director Dan Ibarra said in the statement. “That’s why we are happy to be partnering with CIS Bayad and the local government of Dasmariñas as we share the common purpose of providing safe and convenient payment solutions made closer to the community.” “The City Government of Dasmariñas continuously comes up with valued benefits to its citizens. We partnered with Bayad and Pay&Go to provide a bills payment alternative that is made more convenient and accessible to Dasmariños, LGU Dasmariñas Mayor Jennifer Austria-Barzaga was quoted in the statement as saying.

gladesh Bank) , nor will it ever have within the limits of the provisions of the present rules as regards summons and the service thereof,” the court said. RCBC and the Bank of Bangladesh became entangled after $81 million from the latter reportedly landed in a number of Philippine accounts under the names of Michael Cruz ($6 million), Jessie Christopher Lagrosas ($30 million), Alfred Vergara ($20 million) and Enrico Vasquez ($25 million) despite stop-payment requests from the Bangladesh Bank. In 2021, the Bangladesh Bank also filed a complaint before the Supreme Court of New York in connection with the incident. The Department of Justice has also filed anti-money laundering charges against five executives of RCBC in connection with the heist. Prosecutors cited the “willful blindness doctrine” as “the deliberate avoidance or knowledge of a crime, especially by failing to make a reasonable inquiry about suspected wrongdoing, despite being aware that it is highly probable” in filing the complaint.

Firms face lender ire after loan’s collapse

NVESTORS fuming over the rapid collapse of a leveraged loan issued in June have hired a law firm to examine legal options over what they view as inadequate disclosures during the debt’s marketing process. The loan, issued by technology company Avaya Holdings Corp., plunged nearly 30 cents on the dollar over the last week after the company slashed quarterly revenue and earnings expectations and jettisoned its chief executive officer. The rapid change in Avaya’s fortunes—revealed mere weeks after the debt hit investors’ accounts—left some buyers questioning why the information wasn’t disclosed when Avaya was marketing the deal with help from Goldman Sachs

Group Inc. and JPMorgan Chase & Co. Investors who bought the company’s $350 million incremental first-lien leveraged loan have hired law firm Akin Gump Strauss Hauer & Feld to explore their options, according to people with knowledge of the matter, who asked not to be named discussing a private transaction. Some holders of the company’s other first-lien loans have also joined the group, the people said. Representatives for Avaya, Goldman Sachs and JPMorgan declined to comment. A representative for Akin didn’t respond to requests for comment. LevFin Insights earlier reported on Akin’s hire, and other elements of the situation. Bloomberg News

Cryptocurrency trading takes a new hit as thousands of Solana wallets hacked

ACKERS targeted the Solana ecosystem early Wednesday with thousands of wallets affected in the latest hit to the cryptocurrency market after bridge protocol Nomad was attacked at the start of the week. Estimates of the damage vary. Just over $5.2 million in cryptoassets have been stolen so far from more than 7,900

Solana wallets, according to blockchain forensics firm Elliptic. Security company PeckShield said four Solana wallet addresses drained approximately $8 million from victims. “The root cause is still not clear,” Elliptic’s co-founder Tom Robinson said. “It appears to be due to a flaw in certain wallet software, rather than in the Solana blockchain itself.”

The attack sent Solana’s SOL token down as much as 7.3 percent to $38.40 in early trading on Wednesday, its lowest in a week. Bitcoin was up 1.5 percent at $23,367. Crypto projects are proving a rich vein for hackers and the industry has suffered numerous attacks this year. Solana’s woes come days after Nomad—a bridge protocol for transferring crypto tokens

across different blockchains—lost close to $200 million in a security exploit on Monday. More than $1 billion has already been stolen from bridges in 2022, according to a June report by Elliptic. “Much remains unknown at this point—except that hardware wallets are not impacted,” Solana Spokesman Austin Federa said. While there’s speculation the in-

cident was a supply-chain attack, the nature of the exploit remains unclear, Federa said. Supply-chain hacks occur when an outside party or provider with access to the victim’s systems and data is infiltrated. Solana, which has suffered network outages in the past, is a rival to the Ethereum blockchain. As transaction prices on Ethereum rose last year, chains like

Solana, which tout their low transaction fees, emerged as alternatives for minting non-fungible tokens. The code underpinning Solana is also popular with clients looking to build their own decentralizedfinance applications. Some NFTs were also stolen in the hack—but the full impact of the exploit is still unclear, Elliptic’s Robinson said.

Bloomberg News

www.businessmirror.com.ph

Thursday, August 4, 2022

France wants PHL’s women entreps to stamp their class in local business

By Rizal Raoul S. Reyes

HE envoy of France recently commended the Women’s Business Council Philippines (WomenbizPH) for empowering the country’s female entrepreneurs. “Women can lead the change toward progress by empowering them,” Ambassador Michele Boccoz declared in her address during WomenbizPH’s recently concluded “Women Strong Network” hybrid

trade fair. By educating Filipinas, especially those belonging to the micro, small, medium enter prises (MSMEs), Boccoz said female entrepreneurs can now pursue

research and innovation for better products and ser vices. She also pointed out that they should pursue digital education towards digital transformation. WomenbizPH, the lead privatesector partner of the Department of Trade and Industry (DTI), provided assistance to 120 womenowned MSMEs through the trade fair to equip them with needed skills and tools for business continuity in 2022 and beyond. With more than 99.5 percent of registered businesses in the countr y belonging to small enter prises—54 percent of which are run by women—the trade fair aimed to promote products o f w o me n - e nt re p re ne u r s t o both local and global markets.

Boccoz also encouraged them to develop a strong networking strateg y so they can share their knowledge and skills to the next generation. Meanwhile, the French envoy mentioned that diplomatic relations between Paris and Manila remain robust, as the two countries mark the 75th anniversar y of interactions: “We want to build stronger…between our two countries in the next 75.” To celebrate this significant milestone, several events will be organized throughout the second half of 2022 to manifest the historic friendship between France and the Philippines, offering new opportunities to bring their people closer together.

UN, partner-nations: Post-‘Odette’ recovery work carries on

ALF a year after Typhoon Odette (international name: Rai) left a trail of devastation in 11 of the country’s 17 regions, the United Nations (UN) and humanitarian partners in the Philippines have provided lifesaving assistance to over a million people. Since April and following the announcement by the national government of the response phase’s end, the humanitarian community has since been supporting local governments to implement early recovery activities. To mark six months since the howler’s onslaught, UNPhilippines has just launched the Typhoon Odette Six Months On Photo exhibit at the Instituto Cervantes in Intramuros, Manila. The retrospective, hosted by the Embassy of Spain, the Instituto Cervantes and AECID, in partnership with the UN Office for the Coordination of Humanitarian Affairs (OCHA) on behalf of the Humanitarian Community (HC), seeks to raise awareness of the increase in the occurrence of disasters as a direct impact of climate change and its effects on the development of societies. It will be open to the public until August 20 in observance of World Humanitarian Day on August 19. “The HC will continue its support to affected communities to ensure that progress made in the last six months is not rolled back,” UN Resident and Humanitarian

Coordinator in the Philippines Gustavo Gonzalez said. Gonzalez cited a recent report of the OCHA, which said damaged houses still number over 2.1 million. The revised Humanitarian Needs and Priorities plan, which was launched by the HC Country Team in the Philippines on February 2, committed to aid 840,000 people in Caraga, Southern Leyte, Cebu and Bohol. Shelter assistance, as one of the main needs, was provided to more than 210,000 typhoon-affected households. To date close to 66,000 families have received kitchen items, sleeping kits, and lighting items. However, more shelter-repair kits and other materials for the rebuilding of homes are needed. Over 3,000 individuals remain displaced in Regions 4-A (Calabarzon), Region 4-B (Mimaropa), 7 (Central Visayas), 8 (Eastern Visayas), and Caraga. Relocating these internally displaced persons or IDPs needs resettlement sites to be prepared.

Challenges still present

GONZALEZ noted that in the last six months, over 1.2 million people have received livelihood support, particularly for agriculture. Humanitarian partners have started implementing cash-for-work activities in Bohol and Southern Leyte. These have helped beneficiaries restart fishing and farming livelihoods. However, restarting

agricultural activities is hampered by a number of factors, including the unfinished clearing of debris left by “Odette,” and challenges in operating farming equipment due to oilprice increases. The UN official said some 84,000 health-care workers have been deployed and have served in temporary health facilities. However, health facilities remain semifunctional in many areas, and communities continue to require support to access health services. Close to 46,000 children aged zero to 59 months have been screened for acute malnutrition. The quality and coverage of services for the early detection and treatment of life-threatening acute malnutrition in early childhood needs to be improved and prioritized. Earlier, in the response effort, humanitarian partners deployed 562 trucks to deliver relief items. While logistics operations for the typhoon have ended, the Department of Social Welfare and Development has requested humanitarian organizations to move cargo in response to Tropical Storm “Agaton.” Said goods were shipped into areas also affected by “Odette,” including the delivery of governmentsupplied food, hygiene items, and family or sleeping kits, among others.

Global aid

THE UN country coordinator

acknowledged the support of donors such as the United States Agency for International Development, the European Union, Japan, the UN Central Emergency Response Fund, Australia, Canada and Spain for enabling the UN and over 260 humanitarian partners to address urgent humanitarian needs and implement early recovery programs through more than 15,000 activities in food security and nutrition; protection; shelter; water, sanitation and hygiene; education; health; as well as camp coordination and camp management. He said while long-term and sustained recovery will be the focus of support to the government until the end of the year, the HC will reinforce measures to strengthen preparedness and build resilience against future shocks. “Humanitarian partners will continue to work closely with local authorities to pilot new approaches, such as anticipatory action,” Gonzalez shared. “As nations continue to address the different impacts of the global pandemic, the reality is that several hazards may strike at once. The Philippines has already experienced responding to catastrophes in a Covid-19 crisis scenario, amid difficult access to resources due to the war in Ukraine” he added. “This is forcing all of us to change the way operations are being conducted.”

AMBASSADOR Ma. Theresa Dizon-De Vega, with Korea Hydro and Nuclear Power Co. Ltd. Executive Vice President Nam Yoh-Shik SEOUL PE/PNA

PHL, South Korea discuss nuke collab

EOUL—Ambassador to South Korea Ma. Theresa Dizon-De Vega discussed potential Philippines-Republic of Korea (ROK) cooperation on nuclear technology and renewable energy with Korea Hydro and Nuclear Power Co. Ltd (KHNP) executives on July 19. During the call De Vega affirmed the Philippines’s interest in focusing on a viable and sustainable energy plan, then informed the officials that President Ferdinand R. Marcos Jr. himself expressed interest in pursuing nuclear technology and other energy cooperation platforms with South Korea. KHNP is the largest power generator in Korea, which produces one-third, or around 28 percent, of South Korea’s domestic demand

for power through a combination of nuclear power, hydropower, pumped-storage power, as well as new and renewable energy. It is also an energy provider of 29 countries for global power supply. The KHNP is a long-time partner of the Philippines on energyrelated activities, having led feasibility studies for the safe use of the Bataan Nuclear Power Plant and the Cagayan EcoZone. The power company likewise shared that it is trying to support more experts in the nuclear-energy sector, and was pleased to share that Korea Electric Power Corp. International School has a student engineer from the Philippines. The officials looked forward to further strengthening energy cooperation between both countries in the future. PR/PNA

EU welcomes PHL to the bloc’s digital Covid certificate system

ROVING a Filipino’s vaccination status when traveling between the Philippines and the European Union is now easier, as the country is now connected to the EU Digital COVID Certificate (EUDCC) system. This means that, as a result of the equivalence decision, the EU recognizes the Philippines’s Covid-19 vaccination certificates and, at the same time, the country can now accept and recognize EUDCC certificates according to its own legal order. Following discussions between the EU and the Philippines, the European Commission adopted an Implementing decision giving technical recognition to the latter’s VaxCertPH as equivalent to the EUDCC. Effective July 29, when traveling between EU member-states, holders of the Philippine vaccine certificate can use it under the same conditions as people holding the EUDCC. At the same time, travelers carrying the EUDCC can now use it to confirm their vaccination status when entering the Philippines. “The EU regards this as an important milestone in ensuring expedite and safe travel and people’s

mobility,” said the region’s Chargé d’Affaires a.i. to the Philippines Dr. Ana Isabel Sánchez Ruiz. “We are grateful to the Department of Information and Communications Technology, Department of Health and Bureau of Quarantine for their work through the process, as well as to the departments of Foreign Affairs and Tourism for their support.” The Philippines is the sixth country in the Asean to be recognized under the EUDCC system, as Indonesia, Malaysia, Thailand, Singapore and Vietnam had earlier been included. Globally, the EU has, to-date, adopted equivalence decisions with 45 third-world countries and territories in five continents, which brings the total to 75. The most recent decisions were adopted also on July 29, when Oman and Peru were also added. Filipino travelers who have yet to be vaccinated with an EUauthorized vaccine still need to check which ones are accepted by the relevant member-state prior to their travel. A ll there is to know about the EUDCC is on https://europa. eu/!yh86gY.

US Embassy, Ayala Foundation launch ‘Liberation: War and Hope’ exhibit

HE United States Embassy and Ayala Foundation’s Filipinas Her itage Librar y launched in July Liberation: War and Hope, an exhibit illustrating the strength of the US-Philippine alliance in rebuilding and recovery after World War 2. Chargé d’Affaires a.i. Heather Variava joined Ayala Foundation President Ruel Maranan, Ayala Museum Senior Director Mariles Gustilo, as well as distinguished historian and curator Dr. Ricardo Jose at the exhibit launch at the Ayala Museum in Makati City. In her remarks, Variava highlighted the unbreakable bond formed between Filipinos and Americans during the war, and reaffirmed the continued promise of the US-Philippine relationship as enduring friends, partners, and allies.

The exhibit is the much-anticipated opening display of the Ayala Museum as it once again welcomes the public after two years of renovation. Made possible through a US Embassy grant extended to the Filipinas Heritage Library in 2019 to commemorate the 75th anniversar y of the end of the last world war, Liberation: War and Hope walks the path of the Philippines as it moved to a sense of normalcy, independence, and hope after centuries of oppression, struggle, and rebuilding with the help of the Americans. Liberation: War and Hope is located at the second f loor gallery of the Ayala Museum Complex. The exhibit is free to all visitors and runs until September 25.

CHARGÉ D’AFFAIRES A.I. Heather Variava (first photo, middle) joins organizers at the opening, and views the exhibit pieces.

Parentlife BusinessMirror

www.businessmirror.com.ph

BACK TO SCHOOL IN A PANDEMIC? FIVE TIPS TO KEEP KIDS COVID-FREE AFTER living for two years with the perks and pitfalls of online classes (your Internet is spotty but at least the kids are safe from Covid-19), students in all levels are set to go back to school for traditional in-person classes this month. National Action Plan on Covid-19 Chief Implementer Secretary Carlito Galvez Jr. made the announcement in February after noting that no transmission of the novel coronavirus was reported among the 10,000 children who participated in face-to-face classes held in pilot-test schools. All participating children were inoculated with the vaccine against Covid-19. Naturally, this news leaves parents of school-aged kids with mixed feelings. “On the one hand, you are happy your children can finally go back to school. There is nothing like learning in an actual classroom setting where they can get instant feedback from a teacher and interact with classmates,” says Dr. Shirley V. Dy, MD, Active Consultant from the Department of Pediatrics of top hospital in the Philippines, Makati Medical Center (MakatiMed, www.makatimed.net.ph). “On the other hand, Covid-19 is still very much a threat and as a parent you cannot always be there to shield your children from classmates, teachers, or school employees who may have the virus and not know it.” Still, you can prepare your kids for their inevitable return to school. Use this time to ensure your children remain healthy and Covid-free despite their exposure to the outdoors. Dy recommends the following: n GET YOUR CHILDREN VACCINATED. “No less than the US’s Centers for Disease Control and Prevention (CDC) has recommended that everyone ages 5 years and older get a Covid-19 vaccine to help protect against the virus,” she underlines. “The CDC reassures that the vaccines were developed using science that has been around for decades. They are much safer than getting Covid-19 and more effective at preventing severe diseases from Covid-19 and limiting the spread of the virus that causes it.” As proof, only four of the 10,000 inoculated children who participated in the pilot-test schools experienced “very, very minor side effects,” according to Secretary Galvez. Vaccinations for kids aged five to 11 (which are given in a smaller dose that befits their size) began in February 2022, while jabs for ages 12 to 17 years old were given as early as October 2021. Vaccine rollouts for these age groups are found almost everywhere; selected malls, schools and hospitals offer them for free. n INSTILL HEALTHY HABITS. By now, the pandemic’s health and safety standards are ingrained into our system: Wear a facemask. Observe social distancing. Hand-wash regularly. “Get your kids to practice them too,” says Dy. “Stock up on facemasks designed for their size and age. Remind them to stand a meter apart from people. And pack a small container of alcohol in their bags so they can use it to disinfect their hands when water and soap aren’t available.” n RAISE HEALTHY CHILDREN. Minimum health and safety protocols protect you from Covid-19—but they are not enough. “Even with vaccines and facemasks, it is still important to build a strong immune system,” she points out. “Make fruits and vegetables part of your children’s meals. Expose them to the morning sun every day. Get them to be active through sports and play at least 30 minutes a day. And make sure they get at least eight hours of sleep at night.” n SCHEDULE AN ANNUAL CHECKUP. Did your children skip a visit to their pediatrician, or, worse, miss routine immunizations for measles, diphtheriatetanus-pertussis (DTP) and other vaccinepreventable diseases during the pandemic? They are not alone. According to the Department of Health’s data on Fully Immunized Children, the immunization rate among infants and children in 2020 is 3.9 percent lower than the rate in 2019. “It’s a reflection of parents’ fear of exposing their kids to Covid-19 in a hospital or health center setting,” says Dy. “But do not put your children at risk for developing diseases that are easily preventable by vaccines.” “Even strictly observing health and safety protocols is a big help,” she shares. “By now, your child’s doctor would have had vaccinations and booster shots, and he or she will most likely be wearing personal protective equipment (PPE) which should guard your kids against the virus.” It helps to know that many hospitals have ramped up their efforts to maintain safe and sterile surroundings. For its best practices against Covid-19, MakatiMed was recognized with the Excellence Award for Patient Safety in the 2020 Asian Hospital Management Awards, besting 89 hospitals in 16 countries. The International Hospital Federation also praised the institution for its timely and effective response to the coronavirus pandemic, particularly its prioritizing the health and safety of its patients and healthcare workers. n LISTEN TO YOUR CHILDREN. Are they afraid of needles—or of catching Covid-19 when they go back to school? Dy says, “Tell them that these are unprecedented times we are all trying to navigate together. Most of all, let them feel that they are always loved and that they can come to you for anything, whether it is because they’re afraid of something or are experiencing out-of-the-ordinary symptoms.”

Editor: Gerard S. Ramos

• Thursday, August 4, 2022

Hard evidence: Spanking could lead to health problems, antisocial behavior By Elizabeth Gershoff & Andrew Grogan-Kaylor

The University of Texas at Austin College of Liberal Arts | University of Michigan

HETHER you are a parent who has occasionally spanked your child, an adult with recollections of childhood spanking or even an observer who has witnessed spanking in a public place, you likely have personal experience with the spanking of children for misbehavior. Spanking remains a common parenting practice in the US. A nationally representative, long-term study of children beginning in kindergarten found that 80 percent of children had been spanked by the time they reached third grade. While we all may have our opinions about whether spanking “works” as a method of disciplining children, what does science tell us? And what are the average outcomes for children who are spanked? Recently, we conducted a “meta-analysis”—a review of existing research on spanking—to answer these questions. We found that spanking significantly increases the risk of detrimental outcomes for children. While this finding does not mean that every child will experience problems as a result of spanking, it does mean that a large body of research has shown it significantly increases the risks for problems. Is thErE Any EvIdEncE thAt spAnKInG Is Good for chIldrEn? WE included data from 75 studies from the US and 12 other countries that were conducted over a period of 50 years, which included over 160,000 children. We looked at the associations between spanking and several different child outcomes. Spanking was not linked with better child behavior. Instead, we found spanking was linked with worse child behavior. Spanking was associated with 13 of the 17 outcomes we examined, and all showed spanking was linked with detrimental outcomes. The more children were spanked, the more aggressive and antisocial they were. We also found that children who were spanked were more likely to have mental health problems, problematic relationships with their parents and lower cognitive ability. Most troubling were our findings that children who were spanked were at significantly increased risk of being physically abused by their parents. In addition, the link between spanking and negative outcomes for children was two-thirds the size of the link between physical abuse and the same negative

outcomes. This could well mean that spanking and physical abuse are not categorically different behaviors but rather are points along a continuum of hitting children. The findings of our study were incredibly consistent. Nearly all (99 percent) of the statistically significant effect sizes indicated a link between spanking and negative outcomes for children. WhIch comEs fIrst? spAnKInG or BEhAvIor proBlEms? OUR findings that spanking is linked with more problem behavior cannot prove that spanking causes the problems. It could well be that children with more problems elicit more spanking from their parents. Clearly, we cannot do “randomized controlled trials”—that is, have a control group where children are spanked and another where they are not—to determine if spanking is the cause of children’s problem behaviors. So we depend upon statistics to know whether these outcomes are a result of spanking or a child’s behavior. To tease apart this chicken-and-egg problem, several studies have looked to see if the link is entirely from children’s behavior to parents’ spanking rather than from parents to children. Studies with large samples and sophisticated statistics have found that when children are spanked, their behavior worsens over time, even when we account for many other factors, including the extent to which parents’ use of spanking is a reaction to children’s earlier problem behavior. One such study, conducted by one of the authors (Gershoff), found that kindergartners with problem behaviors did elicit more spanking from parents over time. However, spanking still predicted increases in problem behavior by third grade, over and above the extent to which children elicited spanking from their parents. The second author of this article (Grogan-Kaylor) has worked with data from a large and national sample of children. He too found that corporal punishment was related to increases in children’s behavior problems even when accounting for multiple other factors. Results from other long-term studies also indicate that spanking predicts a worsening of child behaviors over time, regardless of how problematic they are to start with. For example, researcher Lisa Berlin from the University of Maryland and her colleagues found that the more one-year-olds were spanked, the more aggression they showed one year later and the lower cognitive ability they showed two years later.

WhEn thE pArEnt Is AffEctIonAtE A COMMON question is whether spanking is effective if used by an otherwise warm and loving parent. One of the authors (Gershoff) and her colleagues analyzed data from a large study of parents and children, and found that spanking increases problem behavior regardless of how loving mothers are. Love and affection did lead to increases in children’s positive behaviors over time, such as being caring, polite and responsible. However, spanking did not lead to increases in these positive behaviors. Instead, spanking predicted increases in problem behavior over time, proving that hugs, not hits, help children become caring and responsible individuals. Some researchers, such as Kirby Deater-Deckard and Kenneth A. Dodge, have argued that spanking could have positive outcomes when it is considered a culturally accepted practice. However, research in the ensuing two decades has not supported this idea. Using the same long-term study of kindergartners cited above, one of us (Gershoff) found that spanking was used more often (which suggests that it was more acceptable culturally) in black families than in white, Latino, or Asian-American families, but spanking predicted increases in behavior problems equally across all four race and ethnic groups. Spanking was not “better” for children among groups that use it frequently. A study we collaborated on using data from families in six different countries found spanking to be linked with higher aggression and anxiety. This was true even when parents and children believed spanking was an accepted way of disciplining in their communities. Spanking is not linked with positive child behaviors, even when it is supported by the family’s culture. no rEAson to spAnK THE evidence against spanking is so strong that the American Academy of Pediatrics has recommended that parents not spank their children. The US Centers for Disease Control and Prevention also has recommended that education campaigns and legislation be used with a goal of reducing spanking. The United Nations considers all forms of physical punishment to be violence and has called for an end to the practice. A total of 49 countries have already banned all physical punishment of children, including spanking by parents. The message from academic, medical, public health and human-rights organizations is one and the same: spanking is ineffective and potentially harmful to children. It should be avoided for the good of all children. THE CONVERSATION

Smart additions to the home WITH the still-ongoing pandemic underscoring the value of a pleasant home life, now is the time to create your dream home, or give it a refresh. SM Home in SM Stores nationwide (www.shopsm.com/collections/ sm-home/) is having its Home Sale, ongoing until August 31, with great finds and great bargains up to 50-percent off from select items. There are stylish and affordable furniture pieces for the home or home office, as well as innovative appliances for gracious living. Entertain in style with elegant dinnerware and tea sets; and whip up a foodie feasts for friends and family with state-of-the-art grills and cookware. Organize your home with storage solutions for the pantry, closet, vanity table, or garage; and make bath and bed true comfort zones with luxe linens.

CHEER’S stylish and elegant L-shaped sofa should give families more reason to relax at home.

TEFAL Compact Power Cyclonic Bagless Vacuum Cleaner, with a compact design and a 2.5 dust capacity container ready for extreme cleaning performance.

HOSH Gorky Harper Computer Desk for the study or home office for contemporary compact homes.

HAPPY Call Double Pan Jumbo Grill is a non-stick silicon double pan jumbo grill that makes mealtimes happy by making food crispy on the outside and juicy in the inside.

AKEMI Medi + Health Aloe Vera Soft Touch Memory Pillow promotes health and a good night’s sleep.

B6 Thursday, August 4, 2022

The ‘dark’stores: Changing the rules of e-grocery shopping

Isuzu Philippines turns over donation to Northern Mindanao Medical Center

S part of their 25th inaugural anniversary celebration, Isuzu Philippines Corporation (IPC) kicked off their drive to sustainability by providing support to select hospitals nationwide. With the assistance of Isuzu Cagayan De Oro, IPC connected with Northern Mindanao Medical Center (NMMC) which is a government hospital managed by Department of Health. The state-owned hospital serves patients from Cagayan de Oro and Misamis Oriental where it is located and patients from nearby provinces of Bukidnon, Camiguin, Misamis Occidental, Lanao Norte, Zamboanga del Norte and the Agusan Provinces as well. The cash donation will be of great assistance in the hospital’s continuous expansion to cater to the medical needs of more patients from the region. The donation for Mindanao region was made possible because of Isuzu Cagayan De Oro who assisted IPC in coordinating with NMMC. Isuzu Cagayan De Oro is under the Northern Mindanao Automotive Dealership Inc. (NMADI) group which also manages three (3) other Isuzu outlets in Mindanao – Butuan,

A pioneer and leader in the e-grocery space

THE IPC team, led by Ms. Imelda Bernas – Administration Division Head and Mr. Robert Carlos –Sales Assistant Division Head, headed to Cagayan De Oro for the turnover ceremony of Php 250,000 cash donation to Northern Mindanao Medical Center. Dipolog, and Pagadian. Isuzu Cagayan De Oro is one of the twelve (12) pioneer dealerships of Isuzu since 1997. In line with their Road to Progress vision, IPC will continue with this CSR project by donating to three (3) more hospitals – one (1) from NCR, one (1) from Luzon, and one (1) from Visayas before the year ends. This

CSR project is yet another testament that IPC continues to live up to their tagline “Your Responsible Partner”. Visit Isuzu Philippine’s official website at www.isuzuphil.com and follow their Facebook page at www.facebook.com/ IsuzuPhilippines. to be the first to know the latest news and updates from the brand.

Level up face-to-face classes with Rex Education’s Schoology

ITH schools getting ready to transition back to face-to-face classes, Rex Education reminds educators that there are many tools and best practices from their distance learning setup that can help them level up students’ learning experiences inside and outside the classroom. Schoology is one useful and impactful tool. Schoology is one of the very first learning management systems (LMS) made available to teachers and students to continue their teaching and learning from home when schools were forced to close temporarily in 2020. Because of the demand for LMS during that period, REX expanded the reach of Schoology and the wealth of resources available on the platform. “When we introduced Schoology to the Philippines in 2015, we had an idea in mind that the digital classroom is the classroom of the future. That’s why when the pandemic broke out, we were ready. Schoology created an avenue for seamless learning, without compromising our learners, and playing to the advantage of our learners being digital natives," said Rex Education CEO, Don Timothy Buhain.

Digital classroom

TECHNOLOGY cannot be an add-on; it’s a necessity. Flexible learning is not a privilege or an advantage; it’s also a necessity. Certainly, future-proofing our

classrooms, although it cannot be perfected, is a reality. To date, the transition is ongoing and many schools are in different stages in their choice of learning modalities that will fit their learners’ needs. Some may still be designing or experimenting, and some others are already strengthening what they have. Having a trusted partner grounded in sustainability, flexibility, and technology is key in making the transition as smoothly and efficiently as possible. Backed by more than 70 years of expertise, Rex Education and with Schoology could be every school’s ideal partner for the 21st-century classroom. Schoology makes synchronization seamless. Since many schools have been employing a hybrid learning setup where students go to school in schedules or batches,

using Schoology as the primary LMS for each class ensures that all students— both on-site and off-site—are on the same page. In addition, assessment is made easier with the automated test scoring and consolidation of results through Schoology’s Grade Book. Analytics are readily available for teachers so they may adjust their materials based on the class performance, while parents are able to monitor their children's progress throughout the quarter and the academic year. Moreover, classroom management and communication are centralized in the platform. Students, teachers, and parents can also monitor the student workload through Workload Planning, and they can be reminded of deadlines using the platform’s Calendar function. Schoology can be accessed via browser on PC and laptops, or on mobile phones and tablets via the app. As an all-in-one learning platform, it comes packed with features like Personalized Courses, Calendar, Messages, Dropbox, Online Tests, Integrated Apps, Groups, and Grade Book. Stay updated with Rex Education’s latest releases. Be part of the REX Basic Education Community by registering here. For more information about REX’s Basic Education programs, Schoology and Rex Academy, visit rex.com.ph or contact cicsupport@rex.com.ph.

Retail Associates named 2022 LS Retail Diamond Partner

BO Lundqvist (right), President and CEO of Retail Associates receives the award for LS Retail Diamond Partner for 2022 from Qiping Sun, LS Retail Regional Vice President for Asia Pacific during the recent conneXion Iceland, the company’s flagship international event.

ETAIL Associates, one of the country’s leading retail solution advisory firms has just been named as LS Retail Diamond Partner for 2022, the only awardee in the whole Asia Pacific region and the only one to receive the highest Diamond Level distinction.

OR some who are not yet familiar, “dark” stores are generally warehouses used to store products and items that will cater specifically to online grocery shopping. And leading this space in the Asia Pacific and the Philippines in particular is pandamart, powered by online quickcommerce platform foodpanda. According to foodpanda’s Director of New Verticals Karan Bhaskar, they are the pioneers of the dark store business model, having been the first to introduce the concept in the Philippines. “When we first brought pandamart to the Philippines in 2020, we changed the rules of e-grocery shopping in the country. Two years later, we continue to be a leader in the industry as the biggest online grocery shopping platform with more than 40 warehouses all over the country.”

The company was chosen over a field of 386 partners worldwide. The winners of the LS Retail Partner Awards 2022 were announced recently during conneXion Iceland, the company’s flagship international event attended by over 540 guests from all over the world. The recognition is given only to partner companies that displayed extraordinary dedication to the LS Retail solutions and drove unparalleled sales success during the previous year. The award levels are Gold, Platinum and Diamond. LS Retail is a world-leading provider of unified commerce software solutions for retail, hospitality, forecourt and pharmacy companies with 40 years of exceptional industry presence. Founded in Iceland in 1982, LS Retail solutions now power over 90,000 stores, retails chains, restaurants, pharmacies and gas stations across 140 countries. Retail Associates is among the 386 partner companies of LS Retail’s global partner network in 88 countries. This huge number of partnerships has made it possible for LS Retail to have the largest

partner ecosystem in the Microsoft Dynamics world. Retail Associates provides global standard unified solutions and consulting services to Philippine retailers and distributors to improve business workflow, internal processes, and overall management. Retail Associates provide the following services: Audit for system, process, and IT infrastructure; System delivery for business consulting, project management implementation, system integration, localization and customization; and Customer Support for service desk, infrastructure and managed services. The company provides Unified Solutions built on Microsoft Dynamics. These are end-to-end business solutions that provide seamless integration across finance management, supply chain, warehouse, store operations and marketing all in a single system. Kickstart your company’s digital transformation, connect with Retail Associates at mobile: 0917-571-5489, email info@retail-associates.com or visit www.retail-associates.com.

“WHAT separates us and makes us unique is not just that we are the first and the biggest – we also have control over the entire ecosystem. We have our own warehouses where we curate, store and pick inventory. In addition, the grocery platform is ours and we are also the ones who do the delivery.” “We are committed to bringing muchloved grocery products closer to our Filipino consumers and solidify our position as the biggest grocery delivery service in the country. That’s why aside from major cities in the Metro, we have also expanded the areas where our warehouses are located to include, Baguio in Luzon as well as Cebu and Davao in VisMin.” Available in the foodpanda app under the “pandamart” tab, online shoppers can

browse for items and products. Afterward, a designated person or what they call as “pickers” will get the items you selected. The order will then be received by your assigned Ka-Panda rider which will be delivered to your doorstep in as fast as 25 minutes.

Supporting and empowering businesses

FOODPANDA’S Director of New Verticals also shared that pandamart currently houses hundreds of brands ranging from big names in the industry to small and medium enterprises. Some of their partners include leading brands from Unilever, Procter & Gamble, Coca-Cola, and Universal Robina Corporation (URC). On the other hand, pandamart has also tapped into Micro, Small, and Medium Enterprises (MSMEs). “Being able to house both big-time companies and MSMEs in the app allows us to provide a variety of choices that would fit whatever it is our shoppers are looking for. In the end, it is ultimately the Filipino shopper who should win with a choice that is tailor fit for their preference.” “We have also seen how assisting MSMEs can help them gain more exposure in our app so one of our goals moving forward is to partner with local jewels in the months ahead,” he added.

Looking ahead

“WE now get 5x as many customers compared to when we started back in October of 2020. What’s also noteworthy is that even with the easing of restrictions, consumers continue to believe in the benefits of groceries being delivered in the safety and convenience of their homes.”

SECB celebrates 71 years of BetterBanking service Ltd. invested PHP36.9B for a 20% stake in Security Bank—enabling both organizations to leverage cross-border capabilities and further innovate their financial products and services.

Delivering on a vision of customer-centricity

THE façade of Security Bank’s head office in Ayala Avenue features an installation titled Perfect Harmony—a modernized yin and yang depiction of synergy and collaboration.

ECURITY Bank Corporation (PSE: SECB), one of the Philippines’ leading universal banks, has been serving retail, corporate, institutional, and MSME clients since it opened its doors in 1951. In the 1980s, while expanding its branch network, the Bank launched various innovative credit and trust products that have become forerunners of many of today’s industry offerings. It was a pioneer in the country’s credit card industry with the launch of the first credit card franchise through Diners Club. In 1991, new majority owners led by current Chairman Emeritus Frederick Y. Dy took over Security Bank, provided a fresh direction, and in 1995, the Bank was listed at the Philippine Stock Exchange. In 2016, Japan’s banking giant MUFG Bank

BUILDING on a heritage of BetterBanking service, as recognized over the years by The Asian Banker, Euromoney, Asiamoney, Alpha Southeast Asia, and many others, the Bank embarked on a new journey in 2020. Amid the pandemic, the Bank found opportunities to evolve and carve out paths for growth. With changing customer behaviors and business needs in mind, the Bank pivoted to invest in service differentiation. Anchored on a vision to become the most customer-centric bank in the Philippines, Security Bank focused its lens on high growth sectors in retail, wholesale, and MSME segments—understanding and investing in what matters to clients. In doing so, significant investments were made in people engagement and talent development, scalable infrastructure, cloud technology, as well as robust risk management controls. The Bank recently held its Service Tenure Awards to honor and recognize long-serving employees, including 40-year veteran, Retail Banking Segment Head, Maki Tingson. “Serving our customers has always been crucial to our success. We have taken this a step forward by investing in our customers— thinking long-term and focusing our resources to innovate and delight them. We have and continue to make investments in order to transform our customers’ journey and exceed their expectations across our different products and services,” said Sanjiv Vohra, Security Bank President and CEO.

Vivo presents 1st Masterpiece Short Film winners

IVO, one of the leading smartphone brands in the Philippines, has announced the winners of its 60-second Masterpiece Short Film Contest, vivo’s first-ever film contest, which encouraged aspiring Filipino filmmakers and enthusiasts to creatively capture life’s masterpieces around them by just using a smartphone. With the theme, “Own your Masterpiece,” the participants were tasked to find the masterpieces in the ordinary and use the power of storytelling through films to encapsulate the messaging. The Best Film was awarded to Paul Caisip for “The Social Experiment” – a 60-second film about how one should always practice honesty and integrity even if no one’s looking. The Best vivo Product Placement was presented to Michael Golez for “Untitled” –a film that redefined the meaning of masterpiece. More than his artworks on a canvas, Golez highlighted that his very own masterpiece is his life and the memories he

makes with his loved ones. The People’s Choice Award was given to Joshua Penes for “Nung Nawala Ka” – an open-letter film of a lover to his beloved. The winners will receive the latest vivo X80, vivo Y21T, and vivo Y73, respectively, to capture more of their life’s masterpieces in amazing detail and share more stories that matter. Watch the winning entries via vivo Philippines official Youtube channel.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Education needed to conquer hazards compounded by Covid-19 By Rory Visco

Contributor

here is nothing more dangerous than a calamitous event related to the climate, and this is true in every country in the world. Even earthquakes, a geologic event not connected to the climate, or a volcanic eruption, can cause monumental and disastrous effects such as damage to infrastructure and loss of lives. And imagine these upheavals happening while the country is still in the middle of a pandemic, which further compounds the problem. How do you deal with Covid-19 and still maintain physical distancing and observe other health protocols to curb the spread of the virus in a miniscule evacuation center that is packed with evacuees, either from floods, earthquakes, or volcanic eruptions? Which one should be prioritized: Covid-19 or disaster recovery and safety of the victims? Disaster risk expert and Director of the UP Resilience Institute Dr. Mahar Lagmay said during the latest TV UP webinar, titled “Bagyo, Baha, Lindol, Landslide, at Covid-19” organized by the University of the Philippines together with UP Manila NIH National Telehealth Center and in cooperation with UP Philippine General Hospital, that the disastrous events mentioned are not the actual hazards themselves. “There are many hazards under them, and these are the ones we should prepare for, not the ac-

tual event.” And these natural hazards, according to Lagmay, will not stop just because there is a pandemic. This is because the country is in the so-called Typhoon Belt, so we experience typhoons on a regular basis. The Philippines is also in the “Pacific Ring of Fire” where lots of earthquakes and volcanic eruptions occur around the Pacific Ocean. He mentioned several disasters like Typhoons “Rolly” and “Ambo,” and then the recent temblor that hit the province of Abra. All these happened while we are still in the middle of a pandemic.

Biological hazards BUT aside from these, we also have biological hazards like viruses, and then there’s leptospirosis during floods and dengue during the rainy season. This is not to mention the Chemical, Biological, Radiological, and Nuclear (CBRN) hazards that may also happen without us knowing it, he said. With weather, it is not the ty-

phoon or the rains that can cause loss of lives but the hazards like floods, landslides, intense winds and storm surges. “Each hazard of a severe weather should have a map, and these maps should be looked into by people, every family. They should know the hazards in their neighborhood so they would know the danger much earlier,” he said. Lagmay emphasized that people should know where to go, what to do in case of floods, and if their area is in danger when there are floods. He added that these high-risk areas have maps so people should already look at these maps. Some of them can be found on the web site of the University of the Philippines called noah.up.edu.ph. “It has maps for floods, landslides, and storm surges, and they are high resolution and very detailed. It would be very costly to have these things done by others, yet UP did it at a fraction of the cost.”

Volcanic explosions FOR volcanic explosions, he reiterated that the volcano itself is not dangerous but the hazards like pyroclastic fall and flow, debris avalanche, ballistics, lava, noxious gases, tsunami. As for an earthquake, he said the earthquake per se does not kill but the hazards like ground rupture and shaking, subsidence, liquefaction, tsunami/ seiche, landslides, or fire. He pointed out that it is not just about “Duck, Cover, and Hold,” or the “Go Bag” that should be part of the preparation because so much more is needed. “We should learn what each of these hazards are and find out as early as now the profile

of the environment you are in, whether it is in danger when these hazards occur so you will know what to do and avoid last-minute preparations. By knowing what to do, you can take quick action, and chances of survival will be greater.” In terms of reducing the impact of hazards, Lagmay recommends the short term, hazard specific, area-focused, and time-bound warnings, not just general warnings that may create what he called the “Cry Wolf” effect. This happens where if a warning is given and it did not happen, people may tend to ignore it when it is given again so it must be accurate, dependable, and timely.

Use of sensors HE also suggested the extensive use of sensors that employ low-cost technologies and even the Internet, use of high-resolution maps to identify safest places, coupled with real-time monitoring using web and mobile apps. For the long term, Lagmay mentioned anticipatory planning, where experts can put their heads together to help communities do their Comprehensive Land Use Plans (CLUP), Climate and Disaster Risk Assessment (CDRA) and Disaster Risk Reduction and Management Plans (DRRMP) a good education platform to teach people about disasters, the use of Open Data for better communication in science, and of course, scientific research. “We cannot provide a solution to the problem if we do not understand the problem so we can better react and deal with hazards that are compounded by other hazards such as Covid-19,” he said.

Monkeypox is not a sexually transmitted disease–DOH By Claudeth Mocon-Ciriaco

ew research published by the New England Journal of Medicine indicated that 95 percent of monkeypox cases have been transmitted through sexual activity. However, Department of Health (DOH) Officer-in-Charge Undersecretary Maria Rosario Vergeire was quick to correct the misinformation circulating in social media that monkeypox is a sexually transmitted disease (STD). “It is not classified as a sexually transmitted disease. While the monkeypox virus has evolved, it is possible that this can be transmitted through sexual contact. 95 percent of the cases right now globally were transmitted through sexual contact,” Vergeire said. Vergeire stressed that the virus can also be transmitted through respiratory droplets, clothing or other surfaces, during kissing and cuddling.

Two types of monkeypox

THERE are two types of the monkey-

pox virus according to the Centers for Disease Control and Prevention: West African and Congo Basin. Infections in the current outbreak are of the West African type. Monkeypox is a rare disease caused by infection with the monkeypox virus. It is part of the same family of viruses such as the variola virus, the virus that causes smallpox. Monkeypox symptoms are like smallpox symptoms, but are mi lder, and monkey pox is rarely fatal. It was discovered in 1958 when two outbreaks of a pox-like disease occurred in colonies of monkeys kept for research. Despite being named “monkeypox,” the source of the disease remains unknown. However, A f r ican rodents and non-human primates (like monkeys) might harbor the virus and infect people. The first human case of monkeypox was recorded in the Democratic Republic of the Congo in 1970. Prior to the 2022 outbreak, monkeypox had been reported in people in several central and western African

countries. Previously, all monkeypox cases in people outside of Africa were linked to international travel to countries where the disease commonly occurs or through imported animals. These cases occurred on multiple continents.

Is it deadly?

Infections w ith the t y pe of monkeypox virus identified in this outbreak—the West African type— are rarely fatal, according to the US CDC. Over 99 percent of people who get this form of the disease are likely to survive. However, people with weakened immune systems, children under eight years of age, people with a history of eczema, and people who are pregnant or breastfeeding have a greater chance of getting seriously ill or die. Although the West African type is rarely fatal, symptoms can be extremely painful, and people might have permanent scarring resulting from the rash. The Congo Basin type of monkeypox virus has a fatality rate around

10 percent.

Symptoms

THE symptoms of monkeypox include fever, headache, muscle aches and back aches, swollen lymph nodes, chills, exhaustion and respiratory symptoms like sore throat, nasal congestion our cough. A rash that can look like pimples or blisters that appear on the face, inside the mouth, and on other parts of the body, like the hands, feet, chest, genitals, or anus is also a symptom. Sometimes, people get a rash first, followed by other symptoms. Others only experience a rash.

Symptoms usually appear one to two weeks after infection

Since the monkeypox and smallpox viruses are genetically similar, vaccines developed to protect against smallpox viruses may be used to prevent monkeypox infections. “With the entry of a lone monkeypox case, the DOH assures that all hands are on deck and that we are capable to prevent the further transmission of the virus,” Vergeire said.

Ospital ng Makati receives highest ranking among public hospitals in Metro Manila

akati Mayor Abby Binay announced that the Ospital ng Makati (OsMak) received the highest ranking among Metro Manila public hospitals in terms of infection control and Covid-19 response and management. Binay said OsMak scored 97/100 in the inspection and validation report conducted by the Health Facility Development and Enhancement Unit (HFDEU) of the Metro Manila Center for Health Development (MMCHD). The MMCHD is an agency under the Department of Health (DOH). The inspection covered all local government and DOH health facilities in Metro Manila.

OsMak was rated 19/20 for Governance; 19/20 for Ethics and Patient’s Rights; 15/15 Quality Measurement and Improvement; 20/20 for Patient Safety; 9/10 for Facility Safety and Emergency Management; 15/15 for Resource Management. The total score was 97/100. “Time and again, OsMak has set the benchmark for efficient, effective, and compassionate delivery of healthcare services. Our Makatizens can rest assured that OsMak follows the standards and protocols set by DOH as a tertiary care hospital. Maayos, ligtas, at sigurado ang mga serbisyong ibinibigay natin sa ating mga pasyente,” Mayor Abby said.

DOH mandate

THE audit and evaluation of all LGU and DOH-run facilities is mandated by DOH Memorandum No. 20200202 on the “Use of Infection Prevention and Control [IPC] Assessment Form for Health Facility Managers and Healthcare Professionals in the context of COVID 19.” The HFDEU assessed the hospital’s compliance with infection prevention and control (IPC) standards and protocols regarding the Covid-19 pandemic, as well as with the Integrated Hospital Operations Management Program (IHOMP). The latter prescribes the standards and guidelines used in the evaluation.

The IHOMP target is to improve the efficiency and effectiveness of healthcare services through the creation and use of information for clinical, administrative, and monitoring purposes in hospitals and other health facilities. Binay said that OsMak also had to accomplish and submit both IHOMP and IPC self-assessment forms and supporting documents prior to the validation. In March this year, OsMak received its second ISO 9001:2015 certification after a three-day external audit. The local hospital received its first ISO 9001:2015 Certification for Quality Management System in 2019.

Thursday, August 4, 2022 B7

Experts urge gov’t to come up with strategic plan vs pandemic By Roderick L. Abad Contributor

HE new administration was advised to strategize its handling of the ongoing pandemic and to strengthen initiatives to inoculate the people so as to maintain low infection rates in the country and avoid wastage of the Covid-19 vaccines. “The lack of planning led to the loss of the vaccines,” OCTA Research President Professor Ranjit Rye said during a forum organized by Cardinal Santos Medical Center last July 28. “The government should now define a comprehensive national Covid-19 strategy or exit plan that would guide the national and local government and the private sector on how to respond and recover from the pandemic.” For her part, Philippine College of Physicians President Dr. Maricar Limpin urged the government to also weigh matters carefully as the State of Public Health Emergency is about to expire next month. “We have not done the necessary preparations…the vaccines are still under EUA [Emergency Use Authorization],” she noted. With this in mind, she reminded the government to decide whether to keep the EUA for Covid vaccines or encourage the pharmaceutical firms to apply for Certificates of Product Registration (CPR) to make sure that they are available to the public, whether commercially or through public procurement and donations. Dr. Nina Gloriani, chairman of the Vaccine Experts Panel, said boosters are necessary to keep immunity at sufficient levels. She explained: “The primary series is not sufficient at this time, especially with the emergence of variants.” Even if the growth rate in Covid cases is stable, OCTA Research Fellow Dr. Guido David observed that it might take longer for the pandemic to transition to an endemic due to waning immunity and/or the occurrence of subvariants. “We need to keep healthcare utilization rates down so that the economy can stay open. A sure way of doing this is by strengthening our wall of protection, especially against variants,” said Go Negosyo Founder Joey Concepcion.

Addressing gaps to avoid jab expiration

IN a separate town hall meeting held by the nonprofit organization, he and independent medical experts offered suggestions on how to avoid a repeat of the expiration of Covid vaccines in the country. Last April, the entrepreneurship czar sounded the alarm on the millions of such jabs worth billions of pesos that are nearing their expiry date. As of June 26, there are 29,795,970 available doses in the national cold chain

facility, with more than four million confirmed to expire by July 31. “We need to learn from this experience,” Concepcion said of their expiry just days after the Department of Health (DOH) allowed the use of second boosters for adults 50 years and older, and those 18 to 49 years with comorbidities. “There are clearly several gaps that led to the expiry of the vaccines… We tried to point out some of these gaps such as the need to listen to the science coming from abroad, and to act swiftly considering that our economy is on the line.” Having the visibility on the supply, the DOH, he said “could have stepped in.” He pointed out: “It would just be a simple computation as the expiry dates are clear. They knew the levels we all had, from both the private sector, government procurements and donations from abroad.” Since the agency had the pertinent date, Concepcion emphasized that it could have advised the Health Technology Assessment Council (HTAC) accordingly while the guidelines for implementation should have been issued immediately. Moving forward, the DOH Secretary, with assistance from an executive committee, must be able to override decisions in consideration of an emergency, suggested Dr. Ted Herbosa, the special adviser of the National Task Force Against Covid-19 and an expert on disaster and emergency medicine. Seeing that several bodies have been advising the government, with some even having overlapping functions, all throughout the pandemic, he reiterated that this must be addressed.

What to do next

EVEN if the Philippines has remained under the “very low risk” level for Covid-19 compared to its neighboring countries, the new government must not be complacent with regards to its strategies to sustain this and, eventually, end the ensuing health crisis. Concepcion believes that the plan of President Ferdinand R. Marcos Jr. to establish the Philippine Center for Disease Prevention and Control is a promising idea, and that it should be headed by the DOH secretary. The Go Negosyo founder added that the upcoming vaccination programs should be confined to only two brands to make future procurements of the private sector more streamlined with the government. He agreed with Dr. Limpin that there must be a plan on whether vaccines will still be under EUA or granted with CPR as the State of Public Health Emergency is scheduled to lapse in September. “We will support the vaccination, but the roadmap needs to be clear,” Concepcion said.

AstraZeneca’s Covid-19 vaccine prevented 50k deaths in PHL

ith a total of 39.1 million doses delivered to the Philippines, AstraZeneca’s Covid-19 vaccine is estimated to have prevented 52,224 deaths locally, an independent assessment of vaccine effectiveness shows. Lotis Ramin, Country President of AstraZeneca (Philippines) Ltd., said: “Primary and booster vaccination coverage remains critically important, and this new data further demonstrates that our vaccine is highly effective in protecting against COvid-19’s worst outcome. AstraZeneca remains fully committed to continuing our work with the Philippine government, local government units, and the private sector to ensure each and every Filipino is vaccinated and boosted as a priority.” The analysis conducted by Airfinity, a health data firm, covers the period from December 8, 2020 to December 8, 2021. The data showed that globally, the AstraZeneca vaccine is estimated to have saved more than 6.3 million lives. In addition to the human health impact, Covid-19 vaccinations also created significant and measurable economic benefits, according to recent research from the consultancy firm KPMG, which was commissioned by AstraZeneca. In the Philippines, mass vaccinations from January to October 2021, covering the first stages of the country’s vaccine rollout, is estimated to have saved US$3.2 billion in pandemic healthcare costs.

Billions of doses

SINCE the Covid-19 pandemic began, AstraZeneca and its global partners have released more than three billion vaccine doses to more than 180 countries, and approximately two-thirds of these doses have been delivered to lowand lower-middle income countries. AstraZeneca’s vaccine, which is a viral vector vaccine, and mRNA Covid-19 vaccines, both provide high protection against hospitalization (91.392.5%) and death (91.4-93.3%) after two doses regardless of age, with no statistical difference between them. A stra Zeneca’s Cov id-19 vaccine was invented by the University of Oxford. It uses a replication-deficient chimpanzee viral vector based on a weakened version of a common cold virus (adenovirus) that causes infections in chimpanzees and contains the genetic material of the SARS-CoV-2 virus spike protein. After vaccination, the surface spike protein is produced, priming the immune system to attack the SARS-CoV-2 virus if it later infects the body. The vaccine has been granted a conditional marketing authorization or emergency use in more than 125 countries. It also has Emergency Use Listing from the World Health Organization, which accelerates the pathway to access in up to 144 countries through the COVA X Facility.

Sports

Marcial sets goals high with Paris gold in mind By Josef Ramos

UMIR FELIX MARCIAL has reactivated his goal of snaring that Olympic gold medal that he missed in Tokyo last year by focusing on Paris 2024. But he set his dream a notch higher—Marcial also wants a world title in that same year. “I’ll be gunning for two—a professional world title and an Olympic gold,” Marcial, 26, told BusinessMirror on Wednesday, “If the opportunity comes, why not? Whatever fight is in front of me, I am willing to take it.” Marcial fought twice this year. He beat American Isiah Hart last April 9 in a six-rounder in Las Vegas to improve his professional record to 2-0. In May, he retained his Southeast Asian Games middleweight gold medal in Hanoi. “It’s always my dream to capture an Olympic gold, while my other goal is to achieve a world title as a professional,” he said. “I’m determined to go for both.” Marcial will fly to the United States later this month to prepare for his third pro fight against a still undetermined opponent sometime in October. “Eumir [Marcial] needs to focus on 2022 and 2023 and then we’ll be gunning for a world title in 2024,” International matchmaker and Manny Pacquiao’s MP Promotions head Sean Gibbons told BusinessMirror also on Thursday. “He needs to come out hard, especially next year.” Gibbons noted that Marcial needs to plug loopholes in his skills as a pro boxer. “He needs a lot of experience and a lot of work in the US. He needs to learn that’s why we’re looking for him to be more active next year,” Gibbons said. “We will make him a monster in his division.” The coming year offers a busy schedule for the Tokyo Olympics bronze medalist. Staring at his schedule are the SEA Games in Cambodia in May, Asian Games in Hangzhou in September and the Olympic qualifiers. But Marcial vowed he’s prepared his mind and body. “I never get tired of representing our country,” he said.

BusinessMirror

| Thursday, August 4, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ASUSANO DELIVERS ON DRY DAY THROWER Cendy Asusano wins the women’s shotput F54 gold medal.

URAKARTA, Indonesia— After a rush of eight golds overnight, Filipino para athletes struggled Wednesday and mustered a

HE Philippines finally got to meet JIP last Sunday with the official mascot for the International Basketball Federation (FIBA) Basketball World Cup 2023 introduced to Filipinos at the SM Mall of Asia Atrium. JIP—short for co-hosts Japan, Indonesia and the Philippines—is considered a key component to the success of the 2023 edition of the world meet, as well as the future of the sport itself. “JIP will provide a fun aspect to the FIBA World Cup 2023. Through his story, he will bring in more fan engagement and media exposure,” said Local Organizing Committee (LOC) Master Implementor Ramon “Tats” Suzara. “One of the LOC’s objectives is to make basketball a more inclusive game, and the presence of JIP in our campaigns will draw the youth into the picture, an age group we cannot ignore, as they represent the next generation of players and fans,” LOC Deputy

lone gold medal courtesy of thrower Cendy Asusano in the women’s shotput F54 in morning action of the 11th Asean Para Games at the Manahan Stadium. Disqualified in the discus throw last Tuesday due to a loose strap on the throwing chair, Asusano came back strong and won gold with a new personal best of 5.65 meters on her fourth try, surpassing her old mark of 5.50 meters in the 2017 Malaysian edition. It was the Pasig City-based athlete’s second gold out of three events after handily winning the javelin throw in opening day of action of the 11-nation showcase for the best para-athletes in the region. “It’s a bounceback from the DQ [disqualification]. I refused to be stressed, praise God,” added Asusano, who swept all of her three events in Kuala Lumpur five years ago.

MEET JIP, FIBA WC 2023 MASCOT

INTERNATIONAL Basketball Federation (FIBA) Basketball World Cup 2023 Executive Director David Crocker, Philippine Sports Commission Commissioner Olivia “Bong” Coo and Event Director (Philippines) Renauld “Sonny” Barrios pose with JIP.

order to improve their performance in international competitions.” He added that “there is a pressing need to revisit sports relevant laws and policies which are aimed to support Philippine National Teams participating in international competitions and review any related measures that will ensure the competitiveness and welfare of Filipino athletes.” The Philippines was unable to complete a record-breaking 14th consecutive Southeast Asian Games gold medal in men’s basketball after losing to Indonesia in Hanoi in May. This also put an end to the country’s 33-year basketball dominance of the SEA Games. The Philippines was also unable to reach the quarterfinals of the FIBA

Bill and Fidel TWO larger than life people left the Planet on the same day, on July 31. Both were sportsmen, each in his own right. One was an athlete of mythical stature. The other, a former president of his country, with his life story woven into the tapestry of the land. Bill Russell was not just a legend of the National Basketball Association (NBA) or of American sports. His

T63, respectively. Table tennis also delivered a bronze through the Class 10 mixed doubles tandem of Pablo Catalan Jr. and Minnie Cadag, who took a 6-11, 8-11, 4-11 loss to Indonesia’s Komet Akbar and Aminah in the semifinals. Overnight, judo also gave the country its first medal in the sport courtesy of Deterson Onas in the men’s J1-60 kg class. The Philippine men’s wheelchair basketball squad played a pivotal preliminary match on Wednesday afternoon against host Indonesia in the 5x5 event at the GOR Sritex Arena, with the winner setting up a showdown for the gold against pacesetting Thailand. The charges of Vernon Perea kicked off their campaign in the event with a 26-6 rout of the Cambodians two days ago but fell 9-30 to the Thais last Tuesday. Executive Director Erika Dy said. Suzara and Dy were present alongside FIBA Basketball World Cup 2023 Executive Director David Crocker and LOC Executive Director Renauld “Sonny” Barrios in the lively introductory event that also had a photo booth, arcade basketball, art tables and an intermission from rock band Sponge Cola for the enjoyment of fans. FIBA sees JIP and his launch as yet another step forward in the co-hosts’ preparations for the World Cup 2023. “This is, still, a celebration of the World Cup 2023. I know the work all three countries put in together and I think it’s a great mascot. It symbolizes three countries working together,” Crocker said. “We want to show how basketball can make an impact outside of sport.” Even more than basketball, JIP symbolizes sustainability, with his story stressing the importance of recycling and taking care of the environment.

UE Red Warriors, finally, nail victory

Go files resolution supporting national basketball program EN. Christopher “Bong” Go, on Monday filed Senate Resolution No. 83 urging the Committee on Sports to conduct an inquiry in aid of legislation on the ways to support the Philippine men’s basketball team and, in the process, review the relevant laws and policies to ensure optimal performance in future international sports competitions and to protect the welfare of Filipino athletes. Aside from Go, the said resolution was also introduced by Senators Mark Villar, Francis Tolentino, Alan Peter Cayetano and Senate Majority Floor Leader Joel Villanueva. Go, who will continue to serve as chair of the Senate Committee on Sports, noted in the resolution that “avid Filipino Gilas fans have clamored that the team receive more support in

Over at the Jatadiri Sports Complex in Semarang, swimmers Roland Sabido and Arnel Aba added silver and bronze medals, respectively, to the country’s collection in their games participation backed by the Philippine Sports Commission. Sabido was second in the men’s 100-meter backstroke S9 event in one minute and 15.820 seconds while Aba bagged the bronze in the men’s 100-meter butterfly stroke S9 event in 1:23.40. The swimmers hoped to recover from their anemic showing on Wednesday with 2017 games gold medalist Gary Bejino, veteran Ernie Gawilan and Angel Otom expected to vie for gold Thursday. Contributing bronze medals in athletics were King James Reyes and Andy Avellana in men’s 1,500-meter T46 race and men’s high jump T42/

Asia Cup for the first time in 15 years after losing to Japan in a knockout playoff in Indonesia in July. These losses came just 14 months before the Philippines co-hosts the 2023 FIBA Basketball World Cup with Japan and Indonesia, which will be held at the Smart Araneta Coliseum and the Mall of Asia Arena from August 25 to September 10 next year. The country will also host the final phase of the competition. “For so many years, our national teams have brought pride and honor to our country. So we want to make sure we can keep on improving,” Go said. “As a legislator, I would want to listen to the athletes, organizers, coaches and sports officials on how the government can help in achieving goals in international competitions,” he said.

fame and his good works spilled beyond the court. But in his realm of sports, he had no equal. To this day. Despite the accomplishments and GOAT-hood of contemporary greats Michael Jordan, Kobe Bryant and LeBron James in basketball, none of them could equal or outdo No. 6 of the Boston Celtics, born William Felton Russell on February 12,1934. An Olympic gold medalist and two-time NCAA champion, he led the Celtics to 11 NBA titles, two of them as player-coach, and made Boston the first pro basketball dynasty. He was a 12-time All-Star too and had five MVP awards. The NBA Finals MVP Award is in fact named after him. Bill Russell’s record in his sport is insurmountable to this date. His “challengers” come from other sports: Henri Richard who won the Stanley Cup 11 times with the Montreal Canadiens. And Yogi Berra who won 10 World Series titles with his New York Yankees. Writer Jay King says in The Athletic: “This truth cannot be debated: Russell and the Celtics owned the NBA like no other team ever has or ever will. He cared only about winning and he did it better than anyone—in any team sport—ever has. He encountered 10 Game 7s and left each one with a victory. How improbable is that? The likelihood

FTER almost three years, University of the East (UE) is finally a winner once more after the Red Warriors beat the Arellano University Chiefs, 58-50, at the Filoil EcoOil Centre on Wednesday in San Juan. It wasn’t only the Red Warriors’ first win in the tournament, it was also the team’s first victory since October 30, 2019 during the last eliminations game of the University Athletic Association of the Philippines (UAAP) Season 82. Behind Rey Suerte, Alex Diakhite, and Philip Manalang, UE edged National University, 79-76. “Before, I always tell the boys ‘good game’ after every match, now I told them ‘congratulations,’” a beaming UE head coach Jack Santiago said in his first postwin interview after a 0-14 record in UAAP Season 84 and a 0-3

start in Group B of the preseason tournament. This time around, it was Nico Paranada and Harvey Pagsanjan who showed the way. Paranada had 17 points, four rebounds, four steals and three assists and Pagsanjan registered nine points, five rebounds and two steals to key UE’s win built around two big runs—15-2 after tip off and 18-5 in the third quarter. The Chiefs closed in to within six, 50-56, with 34 seconds to go but the Red Warriors forced two stops and two turnovers the rest of the way. CJ Payawal iced the emotional win for the Recto-based squad that owns 18 UAAP titles. “Out coaches’ patience … that motivates us,” said a teary-eyed Pagsanjan after the Red Warriors send the Chiefs to their fourth loss.

of flipping a coin the same way 10 times in a row is 0.098 percent. Russell’s teams were the NBA’s 1 percent. He has as many rings as Michael Jordan and Magic Johnson combined. He won eight straight championships during one stretch.” Outside of the court he did big things too. NBA Commissioner Adam Silver said, “Bill stood for something much bigger than sports: the values of equality, respect and inclusion that he stamped into the DNA of our league. At the height of his athletic career, Bill advocated vigorously for civil rights and social justice, a legacy he passed down to generations of NBA players who followed in his footsteps.” And here’s a little trivia about Bill Russell that’s closer to the hearts of Filipinos. Did you know that he and Caloy Loyzaga were friends? The two met and played together in the 1954 FIBA world championship in Rio de Janeiro where the Philippines placed third, knocked out of title play only by powerhouse, Team USA. No.6 (6-foot-10) was reportedly so impressed with Caloy, who became a member of the FIBA Mythical Five that year, because despite his 6-foot-2 height, The Big Difference could outrebound much taller guys. The secret, said Caloy, was in

PROOF of Jeaneth Aro’s (third from left) expertise on sports nutrition include Tokyo Olympics gold medalist Hidilyn Diaz-Naranjo, who is with her husband-coach Julius Naranjo, and bronze medalist Eumir Felix Marcial (right)

Diaz’s nutrition coach launches books to nurture Olympic dreams

HE woman who decides what Hidilyn Diaz eats and drinks—enabling her to perform at an Olympic gold medalwinning level—is spreading the importance of proper nutrition especially to kids who want to nurture their own sports dreams. Elite performance nutrition coach Jeaneth Aro launched a series of story books that aim to reach children at the household level, while also giving parents a guide and the chance to not just bond with their kids, but also learn with them about health and nutrition. The first book in her collection, Ang Natatagong Lakas ni Bulas Gatas, is about how milk has helped a young aspiring basketball player achieve his goals. “I want to give back to our community by helping the grassroots athletes, by giving them the opportunity to achieve their potential in sports,” said Aro, a former University of the Philippines taekwondo athlete and now a Registered Nutritionist-Dietician, during the launch of her 37-page children’s book she co-authored with eldest son Alex. “We’re all aware of the hope and character development that sports provide,” added the renowned coach, who takes care of the nutritional needs of Diaz and fellow Olympic medalists Nesthy Petecio, Carlo Paalam and Eumir Marcial, as well as former world boxing champion Mark Magsayo and the TNT Tropang Giga team members, among others. Aro pledged to help raise funds for the Milk Feeding Program for Young Athletes in partnership with the MVP Sports Foundation (MVPSF) under their Community Sports and Youth Development Program, from the sale of the book. “Youth grassroots development has always been an integral part of MVPSF’s core values.,” MVPSF President Alfredo Panlilio said. “We have to underscore the importance of proper nutrition in all our grassroots activities which will enable us to have sustainable national sports programs.” “We strongly embrace our pivotal role in helping launch this nutrition education campaign together with Coach Jeaneth Aro to empower the youth with the knowledge to make healthy food and beverage choices,” MVPSF Executive Director Jude Turcuato said. Diaz, just days after tying the knot with head coach Julius Naranjo, took time to attend the book launch and congratulated Aro. “Nutrition and proper food intake should start with the kids, it’s great that we have this kind of book,” Diaz said. “This is very important for an athlete for better performance and for an ordinary person for a healthier lifestyle.”

his wingspan, which was much longer than his height. The two met again in the Melbourne Olympics in 1956 where Russell gave Loyzaga sage advice about a basketball career. “Getting to the top is hard, but when you’re already there, it’s twice as hard to stay there.… Quit while you’re ahead. And remember to treat everybody well.” The two stayed in touch every and then. As for the other sportsman, Fidel V. Ramos, 12th president of our Republic, he was not into competitive sports, but was a sportsman through and through. He played golf, jogged and was all about fitness, discipline, physical strength and good health. Up before the crack of dawn and a workaholic, he out-energized everybody around him. He challenged people to do sit-ups and push-ups. He would hoist his entire upper body out of car windows just to bid goodbye and finish it off with fist bumps. One look at FVR and you were inspired to get fit. His Leap of Joy at EDSA One is unforgettable. How he jogged straight from the airport to EDSA for EDSA Dos is unbelievable. As obsessed as he was about physical fitness, he also made government and the economy fit during his term. Thank you, FVR, for those Ramos Years. Thank you, Bill, for teaching us greatness.