BusinessMirror August 05, 2022 by BusinessMirror

PHL PHLto tofix fixweak weakspots spotsin inpath pathto to$500-B $500-Bdream dream B S A B A C S A Bloomberg A News C

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HILIPPINES’S incoming economic planning secretary HILIPPINES’S incoming Arecosenio Balisacan to bol-Arnomic planningplans secretary ster thesenio economy’s weak spots Balisacan plans to as bolhester targets least 6-percent the ateconomy’s weak annual spots as growth throughout term of Preshe targets at leastthe 6-percent annual ident-elect Ferdinand the Marcos growth throughout termJr. of PresThe next Ferdinand administration ident-elect Marcosmust Jr. boostTh investment in agriculture and e next administration must manufacturing and build infrastrucboost investment in agriculture and ture to grow the and economy between manufacturing build infrastruc6-8 percent annually to 2028,between Baliture to grow the economy sacan in an interview Wednes6-8 said percent annually to 2028, Baliday. sacan said in an interview WednesFarm and industry output curday. rentlyFarm account less than 40 perandfor industry output curcent of gross domestic product, rently account for less than while 40 percent of gross domestic product, while

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services contributes the majority. “I wouldcontributes like to see those weakest services the majority. points“Ias the priority of the adminiswould like to see those weakest tration,” said 64-year-old, who’s points as thethe priority of the adminiscurrently of the nation’s tration,”chairman said the 64-year-old, who’s antitrust commission. currently chairman of the nation’s Consistently growing at the rate antitrust commission. of 6 percent for sixgrowing years will make Consistently at the rate Philippines a for half-a-trillion dollar of 6 percent six years will make economy, according to Bloomberg Philippines a half-a-trillion dollar calculations. economy, according to Bloomberg The nation’s first-quarter expancalculations. sion of percentfiis already among Th8.3 e nation’s rst-quarter expanAsia’s thanks istoalready the reopensionfastest, of 8.3 percent among ingAsia’s fromfastest, the pandemic. Marthanks toStill, the reopencos’s ingteam fromfaces the immediate pandemic. challengStill, Mares:cos’s inflation is at its fastest inchallengthree team faces immediate years, budget has widened es: infl ation isdefi at cit its fastest in three and the global outlook dimmed. years, budget deficithashas widened Still, said the and theBalisacan global outlook haseconomy dimmed. can expand by at leastsaid 7 percent this Still, Balisacan the economy can expand by at least 7 percent this

year, within the official growth estimate, from the year,riding withinthe therecovery official growth estirecord in 2020 from due tothe mate,contraction riding the recovery therecord pandemic. He saidinhe2020 will push contraction due to forthe more targeted He support measures pandemic. said he will push tofor easemore inflation’s burden on the poor targeted support measures while ensuring “tight” government to ease inflation’s burden on the poor finances are managed properly. while ensuring “tight” government canare achieve moreproperly. with less,” fi“We nances managed he said, that more a review “We adding can achieve withand less,” streamlining of benefi he said, adding that aciaries revieware and needed. The nation cannot streamlining of also benefi ciaries af-are ford removal certain needed. The of nation also taxes cannotonafgoods proposed some sectors, ford asremoval of by certain taxes on hegoods said. as proposed by some sectors, he said.

Experienced economist BALISACAN willeconomist draw from his exExperienced

perience in crafting a newfrom economic BALISACAN will draw his exdevelopment plan. Before taking perience in crafting a new economic helm of the antitrust he served development plan.body, Before taking helm of the antitrust body, he served

as economic planning secretary of theas late president Benigno Aquino of economic planning secretary from 2016. Benigno Aquino the2012 late to president To sustain from 2012 toeconomic 2016. growth of at least To 6 percent, next administrasustain the economic growth of at tion must addressthe rednext tape administraand build least 6 percent, infrastructure needed attract intion must address redtotape and build vestment in manufacturing and ag-ininfrastructure needed to attract riculture, said who holds vestment inBalisacan, manufacturing and aagPhD in Economics from thewho Univerriculture, said Balisacan, holds a sity of Hawaii. PhD in Economics from the UniverGiven a budget deficit inflated sity of Hawaii. by pandemic-era support Given a budget defiprograms, cit inflated companies and multilateral develby pandemic-era support programs, opment agencies be tappeddevelto companies and may multilateral finance roads, rail and heto opment agencies mayirrigation, be tapped said. Balisacan thehe finance roads, helped rail andmanage irrigation, Aquino administration’s flagshipthe said. Balisacan helped manage public-private partnership fl infraAquino administration’s agship public-private partnership infra-

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2006 National Newspaper of the Year CLUBNewspaper OF MANILA JOURNALISM AWARDS 2011 ROTARY National of the Year National Newspaper the Year 2013 2006 Business Newspaper of theofYear National Newspaper the Year 2017 2011 Business Newspaper of theofYear Business Newspaper the Year 2019 2013 Business Newspaper of theofYear Business Newspaper of the Year 20212017 Pro Patria Award 20192018 Business Newspaper of the Year PHILIPPINE STATISTICS AUTHORITY Data Champion 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion

AAbroader look at today’s business look at today’s business A■broader broader look at today’s business Thursday, June 2, 2022 Vol. 17 No. 237

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ON NEW ECONOMIC TEAM’ ON NEW ECONOMIC TEAM’ PRIORITY BILLS TO PASS By Jovee Marie N. dela Cruz

FROM left: Malaysian Foreign Minister Saifuddin Abdullah, Philippines Foreign Affairs Acting Undersecretary Theresa Lazaro, Singapore Foreign Minister Vivian Balakrishnan, Thailand’s Foreign Minister Don Pramudwinai, Vietnam Foreign Minister But Thanh Son, Cambodia’s Prime Minister Hun Sen, Cambodia’s Foreign Minister Peak Sokhonn, Indonesia’s Foreign Minister Retno Marsudi, Brunei Second Minister of Foreign Affair Erywan Yusof, Laos Foreign Minister Saleumxay Kommasith, and SecretaryGeneral of Asean Lim Jock Hoi pose for a group photograph at the opening of the 55th Asean Foreign Ministers’ Meeting in Phnom Penh, Cambodia, Wednesday, August 3, 2022. The Asean is calling for calm in the Taiwan Strait, urging against any “provocative action” in the wake of a visit to Taipei by US House Speaker Nancy Pelosi that has infuriated Beijing.

@joveemarie

HE leadership of the House of Representatives on Thursday assured the Philippine Chamber of Commerce and Industry (PCCI) of the passage, before yearend, of priority bills that business groups have been pushing to boost the economy and hasten recovery from the pandemic.

In a statement following his speech at PCCI’s general membership meeting in Makati City, Speaker Martin G. Romualdez said majority of the priority measures spelled out by President Ferdinand Marcos Jr. in

his recent State of the Nation Address are principally authored by him, “so I expect my fellow legislators to act on these bills with dispatch.”

Story on page A12 and A16. See “Biz,” A2

SOLONS, ECONOMIC TEAM OK DEVT BLUEPRINT FOR 6 YEARS

AP/HENG SINITH

What would it take to shield PHL from supply chain woes? By Cai U. Ordinario

The increase in inflation has prompted the Bangko Sentral ng PiliEADERS of the House man Joey Sarte Salceda, the THE BRP Melchora Aquino, the second of two multi-role response vessels procured by the Philippine government from Japan, is welcomed by the Philippine Coast Guard at the Port Area in Manilato onraise Wednesday, June 1,rates 2022, completing its maiden voyage from Japan. Constructed by Mitsubishi Shipbuilding Co. in Japan, the ship, named pinas (BSP) interest by of Representatives and Appropriations panel’s chairafter Sora, the Grand Woman ofofthe Revolution during thevessels Spanish colonialbyperiod, is part ofgovernment the Maritimefrom Safety Capability Improvement Project ofCoast the Coast Guard. ROY DOMINGO THETandang BRP Melchora Aquino, the second two multi-role response procured the Philippine Japan, is welcomed by the Philippine Guard at the Port Area in Manila on Wednesday, June 1, 2022, completing its maiden voyage from Japan. Constructed by Mitsubishi Shipbuilding Co. in Japan, the ship, named NSULATING the Philippines 75 basis points in July and signal that economic managers on man Zaldy Co and senior vice after Tandang Sora, the Grand Woman of the Revolution during the Spanish colonial period, is part of the Maritime Safety Capability Improvement Project of the Coast Guard. ROY DOMINGO from supply chain disruptions another hike is possible this month. Thursday agreed the chairperson Stella Luz QuiB CtoU.keep O @caiordinario that could accelerate inflation “It’s [inflation] mostly supplymacroeconomyB stable and prombo, Deputy Speaker Ralph C U. O @caiordinario requires making the necessary indriven, that’s why it remains elvide Filipinos adequate social Recto, Majority Leader Manuel vestments to increase farm sector evated. [Unfortunately], we have services in the next six years. Dalipe. productivity and improve the counno control over global stresses. But Speaker Martin Romualdez Diokno was joined by Natry’s logistics network, according to we have to start preparing for [our] made a statement following a tional Economic and Developlocal economists. long-term response,” Ang told the meeting between House ofment Authority (Neda) DirecThe country’s inf lation woes BusinessMirror on Thursday. UTGOING Senate PresiDrilon moved to elect Majority ficials whom he led, and the tor-General Arsenio Balisacan, B J M N.mainly D C and strengthened our political and rehave been caused by supply Ang said these long-term dent Vicente Sotto III Leader Juanmoved MigueltoZubiri as the UTGOING Senate PresiDrilon elect Majority Executive’s economic team led and Department of Budget and institutions. Bdisruptions J@joveemarie M which N. Dare C and strengthened our political and chain bound governmental sponses would mean addressing declared at 7:41 Sotto pm ofIII acting Senate Pro Temdent Vicente Leader Juan President Miguel Zubiri as the by Finance Secretary Benjamin Management (DBM) Secretary “Despite theproductivity many challenges @joveemarie governmental institutions. to worsen as the Christmas season as adjourned sinepm dieof pore fromSenate noon President of June 30 agriculture concerns Wednesday declared at 7:41 acting Prountil TemDiokno. Amenah Pangandaman. HE House of according Representatives happened during mychallenges tenure “Despite many fast approaches, to Alvin that third regular session of thedie July 25,from when the of 19th Congress and makingthe strides toward achiev- the Wednesday as adjourned sine pore noon June 30 until With Romualdez were Ways onHEwho Wednesday ended the de asthat your Speaker, we have risen and House of Representatives happened during my tenure P. Ang, chairs the Ateneo 18th on thesession part ofofthe convenes. ing energy security. the Congress third regular the first July 25, when the 19th Congress and Means committee chairSee “Solons,” A2 18th Congress, highlighting proven ourselves to be One Conon Wednesday ended the as your Speaker, we have risen and Senate, capping on what Minority in the day, colleagues Manila University’s Department 18th Congress the part of the fiEarlier rst convenes. itsof3-year achievements, including gress, ready to people,” 18th Congress, highlighting proven ourselves toour beA2One Con- Leader Seeserve “What,” Franklin Drilon thatinZubiri had colleagues secured Economics. Senate, capping whatdescribed Minority signaled Earlier the day, laws to helpachievements, the country navigate histo colleagues. its 3-year including Velasco gress, told ready serve our people,” asLeader cabinet can handle the emerging scenario,” the In its latest Market Call report, First Metro “one of Franklin the most Drilon productive sesthe “votes” that of majority senators described signaled Zubiri of had secured through emerge strongernavigate from “One Congress, ready to scrutilaws toand help the country Velasco told his colleagues. report stated. Investment University of Asia First and the sions” of the chamber, a feat made sit in 19th Senate, a cabinet can handle the emerging scenario,” the In itsCorp. latestand Market Call report, Metro as “one of the most productive ses- who thewill “votes” ofthe majority of senators the Covid-19 pandemic. the national budget, pass and emerge stronger from nize “One Congress, ready to 38.6879 scrutiOne n of the major risks that post the 67.6328 most Pacifi c (FMIC-UA&P) Capital Markets Research remarkable by KOREA the fact0.0426 that much matter confi rmed by Drilon. report stated. Investment Corp. and University of Asia and sions” of the chamber, a feat made who will sit inSource: the 19th Senate, ntheUS 55.6740 japan 0.4160 n UK n through HK 7.0927 n CHINA 8.2362 n singapore 40.3201 n australia n EU 56.6260 n n SAUDI arabia 14.8077 BSP (August 4, 2022)a In Covid-19 his valedictory laws, conduct hearings, the pandemic. speech, nizetothe national budget,totopropass ofremarkable uncertainty is the Russia-Ukraine saidPacifi thecgrowth momentum which gave rise to One to of the the economy major risks that post the most (FMIC-UA&P) Capital Markets Research it was in a pandemic. Zubiri confi appears to be the by the fact that much matter rmednow by Drilon. Speaker Velascospeech, said vide oversight on the implementaIn Lord his Allan valedictory waruncertainty which willtomark its first 100 days. The war thesaid 8.3-percent growth in the fiwhich rst quarter laws, to conduct hearings, to prothe economy is the Russia-Ukraine the growth momentum gave will rise to peers heaped praise on only Zubiri likely candidate to stand ofHis it was in a pandemic. appears now to befor the the 18th Congress was Velasco a key and of oversight laws, and on to generally make Speaker Lord Allan said tion began February 24 this anddays. will The reachwar spillthe over to the second quarter. vide the implementawar in which will mark its fiyear rst 100 8.3-percent growth in the first quarter will SottoHis for his leadership, laud-on election as the next Senate Presi-for peers heaped and praise only likely candidate to stand steady partner of President easier theand next 100began days on 3. FMIC-UA&P Capital However, of the economy in the 18th Congress was aDuterte key and it tion offor laws, to Congress generally and make edSotto in June February 24 this year and Markets will reach spill over tothe theperformance second quarter. and thanked as well theand seven after as Sen. Cynthia Villar, earfor his leadership, laud- dent, election the next Senate Presiinsteady passing lawsof that promoted Research saidoncommodity prices, particularly oil the third and fourth quarters will of bethe determined to continue the legpartner President Duterte itsitleadership, easier for the next Congress and other 100 days June 3. FMIC-UA&P Capital Markets However, the performance economy in “graduating” members of seven the lier touted a strong contender, ed and thanked as well the dent, afterasSen. Cynthia Villar, earprices, could remain elevated until the particularly war in East- oil by the the third policies be implemented the new economic development, work for the sake of our in passing laws thatstrengthpromoted islative Research said commodity prices, andtofourth quarters will by be determined its leadership, to continue thekaleg- chamber, including two other of pilwithdrawing other “graduating” members the announced lier toutedshe as awas strong contender, ernprices, Europecould is resolved. This uncertainty lead economic will greet ened the administration justice babayans,” he added. remain elevated until the will war in Eastby the team. policiesMuch to beuncertainty implemented by thethenew economic development,ofstrengthislative work for the sake of our ka- lars—Drilon and Senate President from the race. she was withdrawing chamber, including two other pilannounced to an average infl ation of above 5 percent in the economic managers as the pandemicwill continues and thethe ruleadministration of law, enhanced the ern Europe is resolved. This uncertainty will lead economic team. Much uncertainty greet the He said the ened of justice babayans,” hepandemic added. forced the Pro Tempore Ralph “Walathe nang [There is no] SP race,” lars—Drilon and Recto. Senate President from race. country year. inflation of above 5 percent in the andeconomic commodity prices remain protection of labor andenhanced social welto anthis average managers as theelevated. pandemic continues to be dynamic, and the rule of law, the House Heleadership said the pandemic forced the As his “last offi cial act,” Drilon she told reporters, Pro Tempore Ralph Recto. “Wala nang [Thadding, ere is no]“ISPwant race,” In April, “Thecommodity robustness in the economic country thisthe year.Philippine Statistics Authority and prices remain elevated.recovery, fare, improved of and and proactive. protection of the laborquality and social wel- innovative House leadership to be dynamic, introduced a“last resolution meant to a she simple life” and explained she As his offi cial act,” Drilon told reporters, adding, “I want (PSA) reported that infl ation nationwide increased founded“The heavily on employment gains, should In April, the Philippine Statistics Authority robustness in the economic recovery, increased access to “Despite the lingering threat fare, improved theeducation quality ofand and innovative and proactive. prevent a month-long leadership just wanted to “take care of my adintroduced a resolution meant to a simple life” and explained she to 4.9 percent in April Thenationwide average inflincreased ation spillfounded over intoheavily Q2 [theonsecond quarter].gains, And while (PSA) reported that 2022. inflation employment should information, enhanced our health increased access to education and “Despite the lingering threat gap in the Senate, as the terms of vocacy, agriculture,” signaling her prevent a month-long leadership just wanted to “take care of my adfor tothe4.9first four months of theThe yearaverage stood at a tighter fiscal andsecond inflation pose And serious percent in April 2022. infl3.7 ation spill over intospace Q2 [the quarter]. while C  A and emergencyenhanced response our system, information, health Sotto and Recto end at noon of desire to keep her chairmanship of gap in the Senate, as the terms of vocacy, agriculture,” signaling her headwinds in H2 [second half], an economic team for the first four months of the year stood at 3.7 a tighter fiscal space and inflation pose serious C  A and emergency response system, S “H,” A Butch Fernandez June 30. and Recto end at noon of that committee. Sotto desire to keep her chairmanship of of high-quality the new President’s headwinds intechnocrats H2 [secondinhalf], an economic team S “H,” A Butch Fernandez June 30. that committee. of high-quality technocrats in the new President’s

T T

HE performance of the Philippine HE performance of thehalf Philippine economy in the second the second half ofeconomy the year in will rest squarely of the yearofwill squarely on the shoulders therest incoming on the shoulderseconomic of the incoming administration’s team, administration’s economic team, according to a local think tank. according to a local think tank.

@caiordinario

PANDEMIC CHALLENGE PANDEMIC CHALLENGE MARKS MARKS18TH 18THCONGRESS CONGRESS

Sotto Sottocloses closes‘productive’ ‘productive’ session; session;Zubiri Zubirinext nextSP? SP?

O O

PESO exchange rates

PESO EXCHANGE RATES ■ US 52.4120 ■ JAPAN 0.4073 ■ UK 66.0496 ■ HK 6.6799 ■ SINGAPORE 38.2625 ■ AUSTRALIA 37.6004 ■ SAUDI ARABIA 13.9750 ■ EU 56.2643 ■ CHINA 7.8555 Source: BSP (June 1, 2022) PESO EXCHANGE RATES ■ US 52.4120 ■ JAPAN 0.4073 ■ UK 66.0496 ■ HK 6.6799 ■ SINGAPORE 38.2625 ■ AUSTRALIA 37.6004 ■ SAUDI ARABIA 13.9750 ■ EU 56.2643 ■ CHINA 7.8555 Source: BSP (June 1, 2022)

News

BusinessMirror

A2 Friday, August 5, 2022

Standoff at PEZA as execs clash over Palace circular, DTI’s order By Andrea E. San Juan

HE standoff continues at the Philippine Economic Zone Authority (PEZA), where the officer-in-charge named by the Department of Trade and Industry (DTI) allegedly ordered the padlocking of the office of former PEZA chief, Charito B. Plaza, who insists that she is following Malacanang’s order that says all incumbent officials who are holdovers will stay at their posts until yearend. The DTI on Thursday told Plaza, however, that the law allows the new DTI chief to designate an officer-in-charge (OIC) in PEZA. In a letter addressed to Plaza, Trade Undersecretary Herminio C. Bagro III replied to the former’s letter to Trade Secretary Alfredo E. Pascual on August 2, where she questioned the DTI's interpretation of Memorandum Circular (MC) numbers 1, 2 and 3 issued by Malacañang. "While a government instru-

What... Continued from A1

mentality exercising cor porate powers like PEZA seems to be covered by RA [Republic Act] 10149, Section 4 explicitly excludes economic zone authorities from its coverage,” Bagro’s letter read. The Trade official noted that Plaza may have overlooked an "important provisio" in MC 3, which declared that MC 1 does not apply to government-owned and -controlled corporations (GOCCs). Bago said MC 3, item 3 indicated that GOCCs will continue to be governed by their respective charters, articles of incorporation and by-laws in relation to RA 10149 or the GOCC Governance Act of 2011. “In fact, the Governance Commission on GOCC, in a 2014 Memorandum Circular, confirmed that the PEZA DG position was indeed excluded from the coverage of the law,” he said.

Meanwhile, in a statement on Thursday, Plaza stood her ground, saying she will only follow the decision of the Office of the Presi-

dent (OP) on the confusion that emerged from the memoranda issued by the OP—MCs 1 and 3. The former PEZA chief noted that she still heads PEZA on a holdover capacity as shown by MC 3 which was issued on July 27 that superseded MC 1 which was earlier issued on June 30. “MC no. 1 and this Memor a ndu m C i rc u l a r i n sof a r a s they declared certain positions vacant and prov ided for the rules to address the vacancies, do not apply to governmentowned or -controlled cor porations (GOCCs), government instrumentalities with corporate powers, government cor porate entities, and gover nment fin a nc i a l i n s t it ut ion s , w h ic h shall continue to be governed by their respective charters, articles of incor poration and by-laws in relation to Republic Act 10149 or the GOCC Governance Act of 2011." MC 1 was described by Plaza as “vague” because PEZA could be one of the GOCCs or government

instrumentalities and is therefore exempted. According to Plaza, PEZA is a government instrumentality with corporate powers. She said that MC 3 showed that the incumbent DG “still stays on a ‘holdover capacity unless there is a new appointee or appointed OIC’”. For its part, the PEZA Employees Association, in a statement on Thursday, emphasized that this issue has been dragging since last week and has greatly affected the employees of PEZA and the image of the agency. “Let it be known that PEZAEA is always on the side of the truth and for the service of PEZAns, ecozone locators, and Filipino people. We strongly refute former DG Plaza’s statements in the press conference, and PEZAEA is deeply disheartened with the said allegations. The accusations are reprehensible, unfounded, and inconsiderate for failing to recognize the dedication, dignity, and honor of PEZA employees,” said PEZAEA.

Part of these long-term measures, University of the Philippines School of Economics Director for Research Renato E. Reside Jr. said, includes addressing the country's infrastructure

constraints. “Long-term solutions to address supply and logistics issues could be to develop more ports—and indeed more of hard infrastructure in the

country, not just airports and seaports, also roads, bridges, etc.,” Reside said. Reside said logistics issues are broad and can cover everything from the fragmentation of the world into various trade blocs that have lesser trade now than before the pandemic, to the congestion of ports caused by the shutdown to prevent the spread of Covid-19 and the lack of truck drivers. Persistent challenges in the logistics sector will ultimately lead to higher inflation. Reside explained that congestion slows the movement of goods and drives the cost of deliveries higher. This has led to rising costs of these goods as well as the containers used to ship them globally. The increase in the cost of containers, Reside noted, has been particularly dramatic due to the congestion. “Part of the congestion can be traced to the relatively strong US economy, which the Fed is now trying to slow down,” Reside told the BusinessMirror on Thursday. The decision of monetary authorities to raise interest rates in order to stem inflation leads to undesirable consequences such as an increase in unemployment, according to the local economists. However, Ang said it was difficult to say how the recent central bank pronouncements w ill impact unemployment, given that firms are still recovering from the pandemic. “As demand continues to increase, so will firms continue to hire or maintain activities,” Ang said. “Although, the highest cost of money may affect [the] expansion plans [of firms].” Reside said the aim of rate hikes is to forestall increases in inflation as well as inflation expectations. However, these undermine consumption and economic growth. Nonetheless, he said, the decision to raise interest rates was made by the BSP and other monetary authorities to soften the impact of ongoing crisis to economies like the Philippines. “The ultimate aim is to support growth and to prevent a larger problem and a harder landing for our economy. Ultimately, the rate hikes are meant to reduce the persistence of unemployment,” Reside said. 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-chief-sees-local-priceseasing-in-2023/) The PSA will release the official inflation estimates for July on Friday while the National Income Accounts for the second quarter as well as the results of the latest Labor Force Survey will be released next week.

Plaza stands ground

www.businessmirror.com.ph

Biz...

Continued from A1

Romua ldez was refer r ing to these priority measures: (1) The Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Act; (2) Valuation Reform Bill; (3) Passive Income and Financial Intermediary Taxation Act or PIFITA; (4) E-Government Act; (5) Internet Transaction Act or E-Commerce Law; (6) National Land Use Act; (7) Enactment of an Enabling Law for the Natural Gas Industry; (8) Amendments to the Electric Power Industry Reform Act; and (9) Amendments to the Build-Operate-Transfer (BOT) Law. “In fact, I am hopeful that we can approve most of these measures before the year ends,” Romualdez said. “One thing I assure you, though. As stakeholders, you will be consulted in every measure that we tackle, especially those involving commerce and industry. Please make your positions very clear on the issues I mentioned earlier as I want all stakeholders to be heard before we pass these measures,” he added.

Fiscal framework adopted

The Lakas-CMD President said PCCI’s invitation also came at an opportune time as the House adopted last Monday Concurrent Resolution No. 2, which expresses the chamber’s full support to the Medium-Term Fiscal Framework (MTFF) crafted by the administration of President Marcos. “I dare say that the adoption by Congress of the MTFF Concurrent Resolution is a historic one,” Romualdez said. “To my knowledge, this is the first time that our legislators fully committed themselves to a medium-term fiscal plan that will serve as anchor for the annual spending and financing plan of the national government. This— the Medium-Term Fiscal Framework—will serve as our guide in preparing the annual budget for the next six years,” he said. The Marcos administration designed the 2022-2028 Medium-Term Fiscal Framework to

Solons... Continued from A1

According to Romualdez, lawmakers and the economic team discussed the recently adopted House Concurrent Resolution 2 supporting the Medium-Term Fiscal Framework (MTFF) of the Marcos administration. “We had a brief discussion on the Medium-Term Fiscal Framework designed by the administration of Ferdinand Marcos, Jr. The House leaders reiterated our chamber’s decision, as contained in House Concurrent Resolution No. 2, to extend full support to the six-year fiscal plan,” he said. The House on Monday adopted, by viva voce voting, House Concurrent Resolution No. 2, a resolution supporting the 20222028 Medium Term Fiscal Framework (MTFF) of the National Government. “We agree on one thing: the MTFF should be a fiscal consolidation and resource mobilization plan,” he said. “The objective: in the short run, keep the macroeconomy stable and provide adequate social services; in the medium term, generate more jobs, quality jobs, green jobs,” Romualdez added. “I appreciate the gesture of Finance Secretary Ben Diokno to invite the leaders of the House of Representatives to his new office,” said Romualdez, adding, “This gave us an opportunity to discuss, among others, ways on how to forge tighter coordination and smooth working relationship

attain short-term macro-fiscal stability while remaining supportive of the economic recovery and promoting medium-term fiscal sustainability. It aims to reinvigorate job creation and poverty reduction by steering the economy back to its high-growth path in the near term and sustain the high—but inclusive and resilient—growth all through 2028. “The philosophy is simple: efficient collection of taxes especially under a strong economy ensures adequate funding for government programs. In simple terms, the MTFF is a fiscal consolidation and resource mobilization plan. The objective: in the short run, keep the macroeconomy stable and provide adequate social services; in the medium term, generate more jobs, quality jobs, green jobs,” Romualdez explained. “We, in the House of Representatives, not only support the MTFF. We are also aligning Congressional initiatives with the economic recovery programs of the National Government,” he added. The framework contains an eight-point Socioeconomic Agenda aimed towards immediate job creation and poverty reduction. These include attaining food security; reduction of transport and logistic costs; reduction of energy cost to families; addressing public health concerns; strengthening of social protection programs; return to faceto-face classes; enhanced bureaucratic efficiency; and sound fiscal management. The MTFF also sets macroeconomic targets for the next six years, as follows: (1) 6.5- to 7.5-percent GDP growth in 2022 and 6.5- to 8-percent annual GDP growth from 2023 to 2028; (2) 9-percent poverty rate by 2028; (3) 3-percent national government deficit by 2028; (4) Less than 60-percent debt-to-GDP ratio by 2025; and (5) Upper middle-income country status for the Philippines, with each Filipino earning at least 4,046 US dollars per year. Romualdez also said he will engage PCCI in serious discussions on how the government and private sector can work together to give flesh to the administration’s economic agenda. between the Executive and the Legislative departments.” “Our discussion with Secretary Diokno was a fruitful one, and we hope to conduct future consultations with him in the days to come,” Romualdez said. Quimbo has said that HCR 2, which is based on the national government's annual spending and financing plan, should serve as a guide for Congress in preparing the annual budget. The 2023 national budget is expected to be submitted to Congress on August 22. “It is important that congressional initiatives are aligned with the economic recovery programs of the government. After two years of the pandemic, the country is gradually moving towards economic recovery,” she added. For his part, Salceda, said it is critical that the legislative agenda be guided by targets contained in the 2022-2028 MTFF, with the concurrence of the House and Senate. HCR 2 provides that the Marcos administration design the MTFF to attain short-term macrofiscal stability while still supporting economic recovery and promoting medium-term fiscal sustainability. With this, the measure states that the proposed strategies for economic managers are 1) nearterm socioeconomic agenda, which would continue to implement risk-managed interventions, and 2) med ium-ter m socioeconomic agenda, which would create more, high-quality, and green jobs for Filipinos. Jovee Marie N. dela Cruz

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DTI and DICT told to boost SME defense vs cyber threats By Jovee Marie N. Dela Cruz @joveemarie

SENIOR lawmaker on Thursday urged the new secretaries of the Departments of Trade and Industry (DTI) and of Information and Communications Technology (DICT) to work in tandem to ensure the preparedness of the business sector against growing online threats. Camarines Sur Rep. LRay Villafuerte issued the statement reports showed that one out of every two small and medium enterprise (SME) has suffered cyber attacks since last year. The lawmaker urged the DTI and DICT to complement their campaign to encourage SMEs to shift to digital platforms with a massive information drive underscoring the need to shield these enterprises’ respective systems from cybercriminals. “We welcome the plan of Trade Secretary Alfred Pascual to focus on digitalizing the processes of the DTI as well as of SMEs as this will dramatically improve the ease and cost of doing business in the country, and expand the market reach of the country’s small businesses. But DTI should team up with the DICT to ensure that these digital platforms are safe and secure from hackers and other cyber threats,” Villafuerte said. “Cyber attacks not only lead to revenue losses and disruption of operations for SMEs. They also erode the trust and confidence of consumers on businesses that have been victims of such cyber attacks. Cyber security is an indispensable element to ensure that SMEs are adequately protected when they expand their businesses to the digital marketplace,” said Villafuerte, who himself was a successful young entrepreneur before he entered electoral politics in 2004. Villafuerte pointed to Cisco’s “Cybersecurity for SMBs: Asia Pacific businesses prepare for digital defense” study that was released recently, which showed that 57 percent of small and medium-sized businesses (SMBs) across the Philippines suffered a cyber-incident over the past year. This study said over a quarter of these cyber incidents cost their business more than $500,000. Based on the study, the No. 1 reason given as the cause of these incidents was that cyber-security solutions were not adequate to detect or prevent cyber attacks. DICT Secretary Ivan John Uy earlier underscored the need to bolster the country’s digital police amid the proliferation of online scammers. Uy said the three agencies under the DICT—the National Telecommunications Commission (NTC), Cybercrime Investigation Coordinating Center (CICC) and the National Privacy Commission (NPC)—should work together to address this growing issue of scamming using text message or social media. Villafuerte, who is vice president for political affairs of the National Unity Party (NUP), has long recognized the urgency of arming the government with more powers and better tools to run after cybercriminals. He filed a measure in the 18th Congress that was incorporated into a final congressional measure—House Bill (HB) No. 10689— that aimed to add more teeth to the efforts of regulatory agencies to combat cyber offenses by penalizing social engineering schemes, commonly known as “phishing,” that lead to illegal financial activities. Villafuerte said that cybercrimes have risen with the rapid shift in the way people live and use the Internet to interact both socially and economically.

Editor: Vittorio V. Vitug • Friday, August 5, 2022 A3

Sandiganbayan orders arrest of SBMA chief, 15 Olongapo LGU officials for alleged graft By Henry Empeño | Correspondent

LONGAPO CITY—The Sandiganbayan has ordered the arrest of Subic Bay Metropolitan Authority (SBMA) Chairman Rolen Paulino Sr. and some officials of the Olongapo City local government after it found probable cause for alleged violation of Section 3(e) of Republic Act No. 3019, or the Anti-Graft and Corrupt Practices Act, as amended. The Sandiganbayan Fifth Division on July 12 ordered the arrest of Paulino and 16 other co-accused after it granted the prosecution’s motion for reconsideration and set aside the April 1, 2022, resolution from the Sandiganbayan’s Seventh Division. The Seventh Division earlier found no sufficient grounds for a probable cause to issue a warrant of arrest against the accused and dismissed the charges filed on February 6, 2018 against Paulino and other officials. Paulino was then Olongapo mayor when graft charges were filed against him and other city officials in connection with the construction of a mall and commercial center on government property. His co-accused are Vice Mayor Aquilino Cortez; former city councilors Elena Dabu, Benjamin Gregorio Cajudo II, Eduardo Guerrero, Noel Atienza, Alreuella Bundang-Ortiz, Edna Elane, Emerito Bacay, Randy Sionzon, and Egmidio Gonzales Jr. The rest of the co-accused are Tony-Kar Balde III of the City Planning and Development, Cristiflor Buduhan from the Office of the City Accountant, Ann Sison of the Office of the City Legal Office, Mamerto Malabute of the Office of the City Administrator, and Department II Head Joy Cahilig from the City Budget Office, who all members of the city’s Special Bids and Awards Committee. The accused were indicted in February 2018 for allegedly failing to comply with the

Steady Eddie:PBBM extols FVR’s strength amid Edsa ‘tumult’ By Samuel P. Medenilla

@sam_medenilla

SYMBOL of stability during tumultuous times. This was how President Ferdinand “Bongbong” R. Marcos Jr. described former President Fidel V. Ramos, as he attended the latter’s wake at the Heritage Memorial Park in Taguig on Thursday. Marcos said Ramos’s ascent to the presidency in 1992, after serving as Armed Forces chief of staff and then defense secretary to President Corazon Aquino, stabilized the country following the “tumult” of the 1986 Edsa uprising. The bloodless revolt led to the ouster of Marcos’s father, the late strongman and former President Ferdinand E. Marcos Sr. and swept Mrs. Aquino into power. “When he [Ramos] came into the presidency, he brought calm and he brought stability to our country. And for that, we will always be grateful to him and for all his service all throughout his life—as a soldier and as a public servant,” Marcos said in an ambush interview with reporters at the Heritage Memorial Park.

Family loss

MARCOS also personally lamented the passing of Ramos, who was also fondly called “Steady Eddie,” who was the President’s distant uncle. “You also must remember that we are related with FVR and so it is also a family—it is also part of our—it is also a family event, the loss of FVR,” Marcos said. Marcos condoled with former first lady Amelita “Ming” M. Ramos during the wake. During the wake, Marcos was accompanied by Executive Secretary Victor D. Rodriguez, House Speaker Martin G. Romualdez, and Special Assistant to the President Anton F. Lagdameo Jr. The former first lady thanked those who attended the wake to honor the memory of her late husband, whose has been extoled for his services to the nation as a soldier, patriot, and as a president who steered the country through the Asian crisis and championed peace with insurgents. “Thank you very much for coming. I realized we have so many friends. He [Ramos] worked hard. We also tried to work hard, and now he deserves the rest that he needs,” Mrs. Ramos said. In recognition of the public service of Ramos, Marcos earlier issued Proclamation No. 33 declaring a 10-day national mourning.

provisions of RA 6957, or the Act Authorizing the Financing, Construction, Operation, and Maintenance of Infrastructure Projects by the Private Sector, as amended by RA 7718 and its implementing rules and regulations, in the lease and development of the Olongapo City Civic Center, now the location of the SM Central Mall. However, the accused were cleared in 2019 by the Seventh Division, which ruled that the lease agreement was for commercial purposes and was thus outside the scope of the Build Operate and Transfer law. In the recent resolution penned by Associate Justice Theresa V. Mendoza-Arcega, however, the Sandiganbayan Fifth Division pointed that after allowing the state to correct the defect in the amended information, the anti-graft court said it now found “the

allegations in the present information sufficient to constitute an offense.” The Fifth Division noted that “the core issue to be resolved is whether there is probable cause to issue a warrant of arrest against herein accused.” It also said that the refiling of the charges was within the bounds of the Rules of Court. It added that the court “is convinced that the present information is also sufficient to indict herein accused for violation of Section 3[e] under Republic Act 3019, as amended.” Section 3(e) of RA 3019 defines the corrupt practices of public officers as “causing any undue injury to any party, including the Government, or giving any private party any unwarranted benefits, advantage or preference in the discharge of his official administrative or judicial functions through manifest partiality, evident

bad faith or gross inexcusable negligence.” This provision applies to officers and employees of offices or government corporations charged with the grant of licenses or permits or other concessions. Paulino and his co-accused have not yet issued any formal statement about the arrest warrant, but the SBMA chairman confirmed it during a flag-raising ceremony on Monday. “I want to be transparent to everybody, so I’m telling you that your chairman has a warrant of arrest,” Paulino told SBMA employees. He said the case was already dismissed some three years ago, but was revived “by people who have not much things to occupy them[selves] with.” “This has something to do with my confirmation as SBMA chairman,” Paulino added, saying that he has already posted a bail of P30,000.

A4 Friday, August 5, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

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DA expands coverage of P500-M fuel voucher program for farmers

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Department of Agriculture (DA) has expanded the coverage of its P500-million fuel voucher program to all agricultural commodities that use farm machinery to help them cope with expensive oil prices. The DA issued Memorandum Circular (MC) 32 that authorized the expansion of the eligible farmer-

beneficiaries to all agricultural commodities under its P500-million fuel voucher program.

Previously, only corn farmers and fisherfolk were eligible to receive a P3,150 worth of fuel voucher under the DA’s fuel discount program. MC 32 stipulated that the DA expanded the eligible farmerbeneficiaries for a “more efficient implementation” of its fuel discount program. “The coverage of the fuel discount shall be expanded to include all agricultural commodities. The program will therefore cover all farm machinery with an attached engine that is being used for crop production as well as motorized

banca,” MC 32 read. “All farm machinery enrolled under the Program should have a proof of ownership,” it added. MC 32 d irected t he Sugar Regulatory Administration, National Tobacco Administration, Philippine Coconut Authority, Philippine Fiber Industry Development Authority and Philippine Center for Postharvest Development and Mechanization to submit their master list of qualified recipients and corresponding machinery to the regional field offices for subsequent submission to the Bureau of Agricultural and

Fisheries Engineering. Industry groups welcomed the development, pointing out that expanding the eligible beneficiaries for the fuel discount program would help in pulling down the costs of domestic food production. “That’s good news. All farmers of different commodities have equal right to any assistance from the government,” Danilo V. Fausto, Philippine Chamber of Agriculture and Food Inc. President, told the BusinessMirror. “A l l of t hem used f uel a s part of their input and the fuel voucher prog ram w i l l help a

lot in bringing down their cost making farming a worthwhile venture,” Fausto added. United Sugar Producers Federation President Manuel Lamata said the inclusion of the sugarcane farmers to the fuel discount program is “highly appreciated” by the industry since it has been clamoring for more government support to mitigate the impact of high fuel and fertilizer prices. “Kudos to the President [Ferdinand R. Marcos Jr.],” Lamata told the BusinessMirror. Marcos is currently serving as the concurrent agriculture chief of the country.

Senate resolution seeks to assess impact of Russia-Ukraine war on energy security By Butch Fernandez

@butchfBM

ITING spiraling pump prices of gasoline twice this week, Senator Sherwin Gatchalian prodded the Senate to promptly assess the impact of the lingering war between Russia and Ukraine on the country’s energy security and affordability.

In filing Senate Resolution No. 78, Gatchalian aired growing public apprehension over what was seen as a “drastic increase in global oil and coal prices reverberating across the domestic market” with local pump prices experiencing consecutive weekly increases. To drive home the point, he cited

the 22-percent increase in gasoline prices to P77.71 per liter in May from P63.58 per liter in January and diesel pump prices soared by 49 percent to P75.92 per liter in May from P50.95 per liter in January. Gatchalian recalled during the same period, “many PUV [public utility vehicle] drivers opted not to ply their

usual routes, while provincial buses and taxis were operating only at 20 to 30 percent capacity which led to severe lack of available public transportation.” The senator stressed “the need for Congress to be apprised of the short, medium, and long-term effects and implications of the Russian invasion of Ukraine on the Philippine

economy, in particular, the country’s oil supply and the effects of the continuous elevated global oil and coal prices on domestic oil and petroleum products.” As chairman of the Senate Committee on Energy in the 18th Congress, Gatchalian convened a panel hearing in March to seek specific so-

lutions and programs of the Department of Energy (DOE) and relevant government agencies to mitigate the impact of the Russia-Ukraine crisis on the country’s oil supply and prices. The lawmaker lamented that the burden of spiraling fuel prices is aggravated by its downstream effect triggering price hikes of basic commodities.

OECD-FAO: PHL sugar imports in next 9 yrs may be necessary continued from a16 Total sugarcane milled in the current crop year was at 20.8 million MT, slightly higher than the previous crop year’s 20.798 million MT. SRA Administrator Hermenegildo R. Serafica told the BusinessMirror that the country’s raw sugar output in crop year 2021-2022 could have hit 2.2 million MT “if not only for the excessive rainfall” that affected sugar yield or recovery in sugarcanes. The growth of late milling sugarcanes was also stunted due to the

residual effect of Supertyphoon Odette on sugarcane plantations. Nonetheless, Serafica remains optimistic that the country’s sugar production would rebound with the release of new planting technologies and implementation of programs aimed at optimizing sugarcane farming. “But with the potential of our newly released sugarcane varieties and the ongoing expansion of seed cane areas all over the Philippines, the sugarcane industry

will surely have a good chance in battling the challenges in the ever-changing climate and high cost of farm inputs [fertilizer and fuel],” he said. On climate risk mitigation, “we will monitor and use weather data to optimize the farm decision making by installing additional Automatic Weather Station [AWS] to determine when will be the best opportunity to plant and harvest,” he added. Serafica said the SRA will promote

planting technologies that “optimize” sugar recovery of early milling sugarcanes “through drone-assisted spraying of ripeners.” The use of Beneficial Microorganism (BMO) is also being promoted to “compensate for the inorganic fertilizer reduction of our farmers due to high cost.” Nitrogen-fixing bacteria specific to sugarcane is used; when sprayed on sugarcane, it can “reduce the requirement for fertilizer up to 30 percent.”

BusinessMirror

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ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION QUALIFICATION AND AND BRIEF DESCRIPTION SALARY RANGE 7 PRIME TECH, INC. 10/f Ewestpod, Eton Westend Square, Yakal St. Cor. Don Chino Roces Ave., San Antonio, City Of Makati Basic Qualification: ALEXANDER Excellent in reading, writing Bilingual Customer Service Manager and speaking in foreign 1. language Brief Job Description: Manage and monitor Indonesian speaking customer service Salary Range: representative Php 60,000 - Php 89,999 Basic Qualification: WILLY YANTO Excellent in reading, writing Bilingual Customer Service Manager and speaking in foreign 2. language. Brief Job Description: Manage large amount of calls, handle customer concerns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: FERA ROSDIANI Excellent in reading, writing Indonesian - Speaking Customer Service Officer and speaking in foreign 3. language. Brief Job Description: Manage large amount of calls, handle customer concerns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: HENDRY Excellent in reading, writing Indonesian - Speaking Customer Service Officer and speaking in foreign 4. language. Brief Job Description: Manage large amount of calls, handle customer concerns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: IVAN MARCSELINO GOWTAMA Excellent in reading, writing Indonesian - Speaking Customer Service Officer and speaking in foreign 5. language. Brief Job Description: Manage large amount of calls, handle customer concerns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: JAMES WILSON Excellent in reading, writing Indonesian - Speaking Customer Service Officer and speaking in foreign 6. language. Brief Job Description: Manage large amount of calls, handle customer concerns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: SUWANDI Excellent in reading, writing Indonesian - Speaking Customer Service Officer and speaking in foreign 7. language. Brief Job Description: Manage large amount of calls, handle customer concerns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: YEHSSY Excellent in reading, writing Indonesian - Speaking Customer Service Officer and speaking in foreign 8. language. Brief Job Description: Manage large amount of calls, handle customer concerns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: YENNY Excellent in reading, writing Indonesian - Speaking Customer Service Officer and speaking in foreign 9. language. Brief Job Description: Manage large amount of calls, handle customer concerns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: ANDRI SETIAWAN TAIRAS Excellent in reading, writing Indonesian-speaking Customer Service Officer and speaking in foreign 10. language Brief Job Description: Manage large amount of calls, handle customer concerns Salary Range: Php 30,000 - Php 59,999 Basic Qualification: CARWIN TANDEAN Excellent in reading, writing Indonesian-speaking Customer Service Officer and speaking in foreign 11. language Brief Job Description: Manage large amount of calls, handle customer concerns Salary Range: Php 30,000 - Php 59,999 Basic Qualification: EKO TA WAN Excellent in reading, writing Indonesian-speaking Customer Service Officer and speaking in foreign 12. language Brief Job Description: Manage large amount of calls, handle customer concerns Salary Range: Php 30,000 - Php 59,999 Basic Qualification: FERDI YANTO Excellent in reading, writing Indonesian-speaking Customer Service Officer and speaking in foreign 13. language Brief Job Description: Manage large amount of calls, handle customer concerns Salary Range: Php 30,000 - Php 59,999 Basic Qualification: FERRY SETIAWAN Excellent in reading, writing Indonesian-speaking Customer Service Officer and speaking in foreign 14. language Brief Job Description: Manage large amount of calls, handle customer concerns Salary Range: Php 30,000 - Php 59,999 Basic Qualification: FRENGKI WIJAYA Excellent in reading, writing Indonesian-speaking Customer Service Officer and speaking in foreign 15. language Brief Job Description: Manage large amount of calls, handle customer concerns Salary Range: Php 30,000 - Php 59,999 No.

16.

17.

18.

19.

HARIANTO Indonesian-speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns

HENDRA TANAKA Indonesian-speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns

JIMMY NOVIAN HENDARSIN Indonesian-speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns

JULIANTO Indonesian-speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns

No.

20.

21.

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NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION RIO SAPUTRA Indonesian-speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns SANDRO CROWN KWEE Indonesian-speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns SHENDY Indonesian-speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns STEVEN TJOENG Indonesian-speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns SYLVANI WONGSO Indonesian-speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns VINNY Indonesian-speaking Customer Service Officer Brief Job Description: Manage large amount of calls, handle customer concerns

AGROCROPS PHILIPPINES CORPORATION 3/f Builders Center Bldg., 170 Salcedo St., San Lorenzo, City Of Makati

26.

JAYAPALAN, ARUN ADHIDYA Business Representative (Tamil And Bahasa Indonesia Speaking) Brief Job Description: Search new buyer clients/ through traveling to the locations/ markets/ directories/ supermarkets.

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29.

30.

Brief Job Description: Initiate conversation to uncover customer needs. MAI THI AI NHI Vietnamese Language - Officer Marketing Brief Job Description: Initiate conversation to uncover customer needs. NGUYEN TRAN PHONG VU Vietnamese Language - Officer Marketing Brief Job Description: Initiate conversation to uncover customer needs.

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

Basic Qualification: Excellent in reading, writing and speaking in foreign language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in reading, writing and speaking in foreign language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in reading, writing and speaking in foreign language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in reading, writing and speaking in foreign language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in reading, writing and speaking in foreign language

DEN HERTOG, CHRISTIAAN JACOB ALEXANDER Works Manager 35.

Brief Job Description: Managers, monitors, and supervises the execution, according to the contract of a part of the dredging & reclamation project.

No.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in writing, reading, and speaking in English, Bahasa Indonesia and Tamil. Salary Range: Php 90,000 - Php 149,999

Basic Qualification: Fluency in mandarin language. Salary Range: Php 60,000 - Php 89,999

KHAN, ZEESHAAN ZAMIR Bi-lingual Speaking Data Analyst Officer 38.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Degree holder, fluently speak and write Vietnamese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Degree holder, fluently speak and write Vietnamese language. Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Extensive project management experience of at least 5 years in an international dredging and land reclamation project environment. Salary Range: Php 150,000 - Php 499,999

Brief Job Description: Interprets data, analyzes results using statistical techniques and provides ongoing reports

MOI WING FOO Bi-lingual Speaking Data Analyst Officer 39.

Brief Job Description: Interprets data, analyzes results using statistical techniques and provides ongoing reports

CONCENTRIX DAKSH SERVICES PHILIPPINES CORPORATION Bldg. F, Ayalaland, Technohub, Quezon City WATTHANAMIKAEO, THITIRAT Advisor I, Customer Service 40.

Brief Job Description: Will be providing customer service support for Spotify customer thru email/chat

DEXIN INTERNATIONAL IMPORT AND EXPORT CORP. Lot 3 E&e Cmpd., F. Santiago St., Parada, City Of Valenzuela

41.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

BRIGHTLEISURE MANAGEMENT INC. 10/f Newport Entertainment & C Newport City, Manlunas, Barangay 183, Pasay City Basic Qualification: LEE, WONYOUNG An individual contributor VIP Marketing Assistant Manager whose role is to acquire and 36. convert new VIP players Brief Job Description: An individual contributor whose role is to acquire and Salary Range: convert new VIP players Php 90,000 - Php 149,999 CHROMELAB TECHNOLOGIES INC. 25/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati Basic Qualification: Fluent and proficient in writing and speaking at least YU HOU JING 2 of the ff languages: English, Bi-lingual Speaking Customer Service Officer mandarin, Cantonese, Thai, 37. Bahasa Malaysia, Bahasa Brief Job Description: Indonesia, Korean, Spanish Resolves product or service bt clarifying the customers and Portuguese complaint.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in reading, writing and speaking in foreign language

BILLION DRAGON OUTSOURCE PHILS., INC. One Townsquare Place Bpo Bldg., Alabang Zapote Rd., Almanza Uno, City Of Las Piñas Basic Qualification: School Graduate in Chinese, LIU, YANGFENG Can Speak and Write Fluent Customer Service Representative Chinese Mandarin, Can 31. Operate Mandarin Characters Brief Job Description: Customer Service Representative (CSR) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: School Graduate in Chinese, WANG, YIFENG Can Speak and Write Fluent Customer Service Representative Chinese Mandarin, Can 32. Operate Mandarin Characters Brief Job Description: Customer Service Representative (CSR) Salary Range: Php 30,000 - Php 59,999 BOSKALIS PHILIPPINES INC. Unit 3701, 3801 The Orient Square, F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig Basic Qualification: KWON, MINSEO At least 5 years of experience Health, Safety And Security (HSS) Specialist in similar role. Experience in an international dredging, and 33. Brief Job Description: land development industry. Ensures that all our health, safety, and security standards are followed and implemented. Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Minimum, 3 years experience working in an ROUT, RANJIT KUMAR international dredging Mechanic Specialist and land development industry. Minimum of 4 years Brief Job Description: experience in a technical 34. Responsible for compiling (complex) mechanical equipment environment, working with in the workshop and ensuring proper operations of excavators, bulldozers and (complex) mechanical equipment / installations of dump trucks and various equipment. heavy equipment.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in reading, writing and speaking in foreign language

QUALIFICATION AND SALARY RANGE

BIGCAT SOFTWARE SOLUTIONS, INC. 18/f Pbcom Tower, 6795 Ayala Avenue Cor. Rufino Street, Salcedo Vill., Bel-air, City Of Makati AYUN PHAM LUU LY Vietnamese Language - Officer Marketing

ESTABLISHMENT / ADDRESS

AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex, Harbour Drive Cor. Bay Shore, Brgy. 076, Pasay City ZHANG, CHAO Payroll Analyst, Mandarin Brief Job Description: Processes end-to-end Chinese payroll; review input and output payroll data from various resources; support to accounting, finance, HR, HR services, and compensation and benefits teams; participates process improvement projects that will have positive impact on amazon employees; responds to system access requests, questions, and troubleshoot program issues.

Friday, August 5, 2022

JIN, LING Chinese Cargo Office Agent Brief Job Description: Prepare airline and custom documentations.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent and proficient in writing and speaking at least two of the following languages: English, Mandarin, Cantonese, Thai, Bahasa, Malaysia, Bahasa Indonesian, Korean, Spanish and Portuguese/ 1 year experience of working in a similar role Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent and proficient in writing and speaking at least two of the following languages: English, Mandarin, Cantonese, Thai, Bahasa, Malaysia, Bahasa Indonesian, Korean, Spanish and Portuguese/ 1 year experience of working in a similar role Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Basic computer navigation skills and PC Knowledge, and Ability to work as a team member, as well as independently Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Knowledgeable in Chinese documentations. Salary Range: Php 30,000 - Php 59,999

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower, 6795 Ayala Ave., Bel-air, City Of Makati QUAN GIA LOI Basic Qualification: Vietnamese Speaking Customer Service Representative Proficient in Speaking, Reading and Writing in Mandarin 42. Brief Job Description: Immediately escalating serious complaints or issues that you Salary Range: are not equipped to deal with. Php 30,000 - Php 59,999 EONMAC MACHINERIES PHILIPPINES INC. 3/f Marmic Building, Carlo J. Caparas, Ugong, City Of Pasig Basic Qualification: Candidate must possess at least bachelor’s degree in mechanical design and manufacturing and automation or any related fields. Conduct inspection HE, SHIDI with the local technical staff Senior Technical Consultant in customer site and train and transfer knowledge and skills 43. Brief Job Description: to local staff; knows how to Provide technical analysis on the preventive maintenance, read, speak and write Chinese repair, replacement, and servicing of all heavy equipment and mandarin. Provide client and vehicles of customers under the different brands. resolution to equipmentrelated issues; at least 10 years of experience in an automotive company. Salary Range: Php 30,000 - Php 59,999

EXLSERVICE PHILIPPINES, INC. 6th Floor, One E-com Center, Harbor Drive, Mall Of Asia Complex, Pasay City Basic Qualification: A technocrat with 14+ years of experience in project management and other areas such as; omni channel, speech analysis, business analysis, project and program HORA, ANKUSH management, budget and Assistant Vice President- Digital Transformation Front Office cost optimization, resource planning and control. Brief Job Description: Customer satisfaction, system In-depth understanding of front office transformation tools migrations/integrations, 44. and technologies like omni channel, cti, conversational ivr. infrastructure planning Interaction analytics, preferably google analytics or using & security voice design & tensor flow including speech, chat bot, unified agent desktop, implementation, strategic identify & analyze information related to existing client & tactical planning, risk systems visibly show the hands off/handshakes between the management, and client various systems. relations. Possess broad competence in strategic management and technical matters. Strong problem solving & technical skills. Salary Range: Php 150,000 - Php 499,999 FIVE LAKES CONSULTING SERVICES INC. U-203 Pacific Center Bldg. No. 33, San Miguel Ave., San Antonio, City Of Pasig MORVAN, JEAN-GAEL Service And Partner Specialist 45.

Brief Job Description: Is a customer and partner-facing role for performance matter and ensure that customer technical issues are promptly resolved and accurately communicated.

FLYING DRAGON NETWORK PHILIPPINES INC. Ri Rance Ii Bldg., Block 2 Lot 3 Aseana City, Tambo, City Of Parañaque

Basic Qualification: Strong technical background and understanding to complex environment, 15 years industry experience and with national diploma in aerospace studies. Salary Range: Php 150,000 - Php 499,999

BusinessMirror

Friday, August 5, 2022

ESTABLISHMENT / ADDRESS No.

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NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WU, SHUANGLONG Call Center Agent Brief Job Description: Customer Service CHEN, GANG Customer Service Representative Brief Job Description: Customer Service

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

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

INNOVATIAL INC. 32a Rufino Pacific Tower, 6784 Ayala Ave. Cor V.a Rufino St., San Lorenzo, City Of Makati Basic Qualification: MA, TAO College graduate, at least Chinese Language Operations Manager 18 years old and can speak 53. Chinese language. Brief Job Description: Determine staffing requirements and interview, hire and Salary Range: train new employees or oversee those personnel process. Php 30,000 - Php 59,999 KING-MERCHANT BUSINESS TRADING INCORPORATED Unit 2505-f, The Finance Centre 26th St., Fort Bonifacio, City Of Taguig Basic Qualification: CHEN, ZHENZHEN With at least 6 months Chinese Speaking Sales Marketing Specialist customer service experience/ good in oral communication 54. Brief Job Description: and written Assist/help customers, give customers information about product and services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: LIU, XINJIAN With at least 6 months Chinese Speaking Sales Marketing Specialist customer service experience/ good in oral communication 55. Brief Job Description: and written Assist/help customers, give customers information about product and services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: HO KOK LOON With at least 6 months Chinese Speaking Trade Marketing Specialist customer service experience/ good in oral communication 56. Brief Job Description: and written Assist/help customers, give customers information about product and services Salary Range: Php 30,000 - Php 59,999 LUVTRISH TRADING CORP. 7 Riyadh Street, Multinational Village, Moonwalk, City Of Parañaque Basic Qualification: DASWANI, MANISHA Ability to work and effectively Finance Manager communicate with senior level 57. business partners. Brief Job Description: Provide and interpret financial information. Salary Range: Php 30,000 - Php 59,999 MERCK BUSINESS SOLUTIONS ASIA INC. 36th To 39th Floor, The Finance Centre Condominium, 26th Street Corner 9th Avenue, Bonifacio Global City, City Of Taguig Basic Qualification: Background using ARIBA and SHIRLEY FAWCETT SAP System, proficiency in Procurement Associate - Bahasa MS Office, 1-2 years Buyer Procurement experience and 58. Brief Job Description: knowledge preferably shared Support the shared services center in the day to day process services P2P process for indirect spending within a specific category or regional areas Salary Range: Php 90,000 - Php 149,999 MILESSOFTWARE SOLUTIONS INC. 5/f Phinma Plaza, 39 Plaza Drive, Rockwell Center, Poblacion, City Of Makati

59.

Brief Job Description: Evaluates software specifications and performance requirements

Basic Qualification: College graduate; Preferably with relevant experience; Excellent English communications skills.

60.

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Brief Job Description: Customer Service.

DENG, ZHOUYANG Call Center Agent Brief Job Description: Customer Service.

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Salary Range: Php 60,000 - Php 89,999 82.

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

62.

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

GLOBALLGA BUSINESS PROCESS OUTSOURCING, OPC Ground Level, Level 2-5 Floor, Silver City 4, Ortigas East, Ugong, City Of Pasig Basic Qualification: Knows how to recommend SAI, PENGCHAO potential products or services Customer Service Representative Mandarin Speaking to management by collecting 48. customer information and Brief Job Description: analyzing costumer needs Build sustainable relationship of trust through open and interactive communication in Mandarin speaking Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to recommend TRAN NGOC HIEU potential products or services Customer Service Representative Mandarin Speaking to management by collecting 49. customer information and Brief Job Description: analyzing costumer needs Build sustainable relationship of trust through open and interactive communication in Mandarin speaking Salary Range: Php 30,000 - Php 59,999 GRAND EVEREST HOLDING INC. 16/f Tower 6789, 6789 Ayala Ave., Bel-air, City Of Makati Basic Qualification: CHAN, WAI HAN With at least 6 months Chinese Speaking Admin Financial Officer customer service experience/ good in oral communication 50. Brief Job Description: and written. Assist/help customer’s information about products and services. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: KHAING ZIN THET With at least 6 months Chinese Speaking Admin Financial Officer customer service experience/ good in oral communication 51. Brief Job Description: and written. Assist/help customer’s information about products and services. Salary Range: Php 30,000 - Php 59,999 IBM BUSINESS SERVICES, INC. 8th Floor, 1800 Bldg., Eastwood City, Libis, Quezon City Basic Qualification: Candidate must possess at least a Bachelor’s/College Degree, Preferably Human Resources or equivalent, Excellent verbal and written TCHEUKO TCHIADJIE, YANNICK JOEL communications skills required EDM Practitioner - French Language in English and French. Similar work experience of at least Brief Job Description: 1-2 years especially in a BPO 52. Provides customer support by phone, email or instant or similar fast-paced setting. message to consumers. Good English Communication Serves as primary contract for inbound customer issues. (verbal & non-verbal) skills. Escalates more technical product related issues to proper Basic computer and internet product support department. navigation skills. Amenable to working in shifting/night schedule. Intermediate in MS Excel.

SHAH, ANIL Associate Engineering Manager

No.

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

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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

84.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION DING, KUI Call Center Agent Brief Job Description: Customer Service. DONG, QINGYANG Call Center Agent Brief Job Description: Customer Service. HA, LU Call Center Agent Brief Job Description: Customer Service. LI, JIAN-YOU Call Center Agent Brief Job Description: Customer service. TAN, MINGGUANG Call Center Agent Brief Job Description: Customer Service. TIAN, PENGYU Call Center Agent Brief Job Description: Customer Service. WANG, HUAYU Call Center Agent Brief Job Description: Customer Service. WANG, WENXIU Call Center Agent Brief Job Description: Customer Service. ZHENG, XIATING Call Center Agent Brief Job Description: Customer Service. BONNIE CHIA SIEW MEI Customer Service Representative Brief Job Description: Customer Service CHOW YEE HOONG Customer Service Representative Brief Job Description: Customer Service. DANG THI THUY Customer Service Representative Brief Job Description: Customer service HOANG THI HIEP Customer Service Representative Brief Job Description: Customer Service HOANG THU PHUONG Customer Service Representative Brief Job Description: Customer Service KOH WOEI JIUNN Customer Service Representative Brief Job Description: Customer Service. LAY LAY WIN Customer Service Representative Brief Job Description: Customer Service. LIM KAH YAO Customer Service Representative Brief Job Description: Customer Service. LIM SEN KHONG Customer Service Representative Brief Job Description: Customer Service LIM SIEW MENG Customer Service Representative Brief Job Description: Customer Service LOC THI VAN ANH Customer Service Representative Brief Job Description: Customer service LY VAN HOAN Customer Service Representative Brief Job Description: Customer Service. MA TIEN THO Customer Service Representative Brief Job Description: Customer Service

MAC THI THU THAO Customer Service Representative Brief Job Description: Customer Service

www.businessmirror.com.ph

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 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 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 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 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 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 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 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 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 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 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 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

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NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NG WEI CHIEK Customer Service Representative Brief Job Description: Customer Service NGUYEN THI BE Customer Service Representative Brief Job Description: Customer service NGUYEN VAN DAT Customer Service Representative Brief Job Description: Customer service NGUYEN VAN DIEP Customer Service Representative Brief Job Description: Customer service NGUYEN VAN DOANH Customer Service Representative Brief Job Description: Customer service NGUYEN VAN HOP Customer Service Representative Brief Job Description: Customer service NGUYEN VAN LINH Customer Service Representative Brief Job Description: Customer service NGUYEN VAN THAI Customer Service Representative Brief Job Description: Customer service NGUYEN VAN TRUONG Customer Service Representative Brief Job Description: Customer service NONG THI HIEN Customer Service Representative Brief Job Description: Customer service NONG THI THOA Customer Service Representative Brief Job Description: Customer Service NONG TUAN DUNG Customer Service Representative Brief Job Description: Customer service PHAM THU HUONG Customer Service Representative Brief Job Description: Customer service SIU KWAN TATT Customer Service Representative Brief Job Description: Customer Service. TRAN THU HA Customer Service Representative Brief Job Description: Customer service TRAN VINH TUAN Customer Service Representative Brief Job Description: Customer service UNG SAT MUI Customer Service Representative Brief Job Description: Customer service VI VAN QUOC Customer Service Representative Brief Job Description: Customer service VU NGOC DIEP Customer Service Representative Brief Job Description: Customer service VU PHUONG THANH Customer Service Representative Brief Job Description: Customer service YEO SHI SHENG ERIC Customer Service Representative Brief Job Description: Customer Service.

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

MOS BURGER PHILIPPINES INC. #12, Brixton Street, Pineda, City Of Pasig AGHAYERE, KAREN Executive Assistant 106.

Brief Job Description: Reporting and documentation in Japanese headquarters overseas administrative duties on behalf of Japanese officers of the overall team management.

NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg., Quirino Ave., Tambo, City Of Parañaque

Basic Qualification: Years of experience working in Japanese based restaurants. Salary Range: Php 60,000 - Php 89,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

107.

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NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION FENG, MIN Chinese Customer Service Brief Job Description: Customer support and data base services LI, GUOQING Chinese Customer Service Brief Job Description: Customer support and data base services ZHOU, HAO Chinese Customer Service Brief Job Description: Customer support and data base services SAI KYAW KHAM Myanmari Customer Service Brief Job Description: Customer support and data base services. YEN, HAN-SHENG Taiwanese Customer Service Brief Job Description: Customer support and data base services CHIENG QUOC DUNG Vietnamese Customer Service Brief Job Description: Customer support and data base services TAT VAN LUONG Vietnamese Customer Service Brief Job Description: Customer support and data base services TRAN DUY QUY Vietnamese Customer Service Brief Job Description: Customer support and data base services.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills. Salary Range: Php 30,000 - Php 59,999

OCTAGON PRIME OUTSOURCING SERVICES INC. Ub 111 Paseo De Roxas Bldg., Paseo De Roxas, San Lorenzo, City Of Makati LEE MUN KIT Basic Qualification: Customer Service Representative Ability to multi task and manage time effectively 115. Brief Job Description: Provide specialized services to assist end-users in technology Salary Range: needs Php 30,000 - Php 59,999 HU, CHENG Basic Qualification: Mandarin Technical Support Fluent in Mandarin, Both Oral and Written 116. Brief Job Description: Provide specialized services to assist end-users in technology Salary Range: needs Php 30,000 - Php 59,999 LI, LIN Basic Qualification: Mandarin Technical Support Fluent in Mandarin, Both Oral and Written 117. Brief Job Description: Provide specialized services to assist end-users in technology Salary Range: needs Php 30,000 - Php 59,999 LIANG, MENGYING Basic Qualification: Mandarin Technical Support Fluent in Mandarin, both oral and written 118. Brief Job Description: Provide specialized services to assist end-users in technology Salary Range: needs Php 30,000 - Php 59,999 MAO, JUN Basic Qualification: Mandarin Technical Support Fluent in Mandarin, Both Oral and Written 119. Brief Job Description: Provide specialized services to assist end-users in technology Salary Range: needs Php 30,000 - Php 59,999 SHEN, YIBO Basic Qualification: Mandarin Technical Support Fluent in Mandarin, both oral and written 120. Brief Job Description: Provide specialized services to assist end-users in technology Salary Range: needs Php 30,000 - Php 59,999 WU, XIANFENG Basic Qualification: Mandarin Technical Support Fluent in Mandarin, both oral and written 121. Brief Job Description: Provide specialized services to assist end-users in technology Salary Range: needs Php 30,000 - Php 59,999 YU, JUNQI Basic Qualification: Mandarin Technical Support Fluent in Mandarin, both oral and written 122. Brief Job Description: Provide specialized services to assist end-users in technology Salary Range: needs Php 30,000 - Php 59,999 ZHANG, YUAO Basic Qualification: Mandarin Technical Support Fluent in Mandarin, both oral and written 123. Brief Job Description: Provide specialized services to assist end-users in technology Salary Range: needs Php 30,000 - Php 59,999 OUTWIT, INC. 2/f Marvin Plaza, 2153 Chino Roces Ave., Pio Del Pilar, City Of Makati Basic Qualification: Good oral and written WANG, YU-WEN communication skills in Mandarin Speaking Customer Service Representative mandarin. At least 6 months of 124. work related experience Brief Job Description: Helps gain customer’s loyalty to the company and its services Salary Range: Php 30,000 - Php 59,999 PEPSI-COLA PRODUCTS PHILIPPINES, INC. 26th Flr., Filinvest Axis Tower Two Bldg., Northgate Cyberzone, Fcc, Alabang, City Of Muntinlupa Basic Qualification: With MBA and 20 Yrs YANGA, ELMER JOSEPH NIDO Experience in Overseeing Chief Finance Officer Financial Activities of the 125. Company Brief Job Description: Responsible for directing fiscal functions of the company Salary Range: Php 500,000 and above RUNNINGMAN CORPORATION 8/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati Basic Qualification: NG SIEW LEONG A native speaker of the Asian Regional Senior Finance Manager Chinese/mandarin language 126. (spoken and written) Brief Job Description: Evaluate the financial performance of the company and Salary Range: ensure returns on investment Php 150,000 - Php 499,999 SC RESERVATIONS (PHILIPPINES), INC. 27/f, 28/f & 29/f Tower Ii Rcbc Plaza, 6819 Ayala Avenue, Bel-air, City Of Makati

AL-FARDI, ABDULLAH OMAR MOHAMMED Reservations Sales Specialist - Arabic 127.

Brief Job Description: A sales expert in providing travel advice and reservations solutions. A critical customer touch point for delivering on our ihg brand experience. Provide an industry-leading reservation, loyalty program and service recovery solution for all contacts.

Basic Qualification: Strong customer service and sales skills balance sales with service; strong communication skills – listening, written, verbal, bi-lingual skills where required. Active listening, appropriate conversation pace, problem identification and resolution. Salary Range: Php 60,000 - Php 89,999

SEAGULL-WORLD INC. Unit 2807 28/f Cityland, Pasong Tamo Tower, 2210 Chino Roces Ave., Pio Del Pilar, City Of Makati

No.

128.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION AN, MAN Mandarin Speaking Customer Service Brief Job Description: Responsible for inbound and outbound service calls

SINCERELY SERVICES INC. Units 2 & 3 24/f Tower 6789, 6789 Ayala Ave., Bel-air, City Of Makati CHEN, GUANZHONG Mandarin Customer Service Representative 129.

130.

Brief Job Description: Answer customer inquiries completely and accurately through live chat, emails and inbound/outbound calls to resolves customer complaints ZHAO, SIYI Mandarin Customer Service Representative Brief Job Description: Answer customer inquiries completely and accurately through live chat, emails and inbound/outbound calls to resolves customer complaints ZHENG, LINA Mandarin Customer Service Representative

131.

135.

Brief Job Description: Report on a daily basis operation of call centre activities performing customer oriented telephone activities & various background operation duties.

QUALIFICATION AND SALARY RANGE Basic Qualification: Excellent in reading, writing and speaking in Mandarin

No.

Basic Qualification: Proficient in writing, reading and speaking in Mandarin

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in writing, reading and speaking in Mandarin

Basic Qualification: Proficient in writing, reading and speaking in both English/ Bahasa/Thai/Chinese/ Vietnamese/Malay

148.

149.

144.

Brief Job Description: Organizes and schedules appointments with office software WANNALOP, SIRORAT Thai-speaking Customer Service Officer Brief Job Description: Build good customer relationships LU MY Y Vietnam-speaking Customer Service Officer

145.

Brief Job Description: Responsible to resolve queries of the Malay-customers through email and chats PHAM THUY HONG DIEM Vietnam-speaking Customer Service Officer

146.

Brief Job Description: Responsible to resolve queries of the Malay-customers through email and chats VO THI DUYEN Vietnam-speaking Customer Service Officer

147.

Brief Job Description: Responsible to resolve queries of the Malay-customers through email and chats

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Reading, Writing and Speaking Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Reading, Writing and Speaking Vietnamese Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent in Reading, Writing and Speaking Vietnamese Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proficient in speaking, reading and writing in Vietnamese.

HUYNH TAN THANH Vietnamese Language - Customer Service Staff Brief Job Description: Deal with and help resolve customer complaints.

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

Basic Qualification: Proficiency Speaking, Reading and Writing in Mandarin

LIN, XIANGANG Chinese Consultant 150.

Brief Job Description: Responsible for working with account planners to device a campaign that meets clients brief and budget

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency Speaking, Reading and Writing in Mandarin

ZHANG, JUNLONG Chinese Consultant 151.

Brief Job Description: Responsible for working with account planners to device a campaign that meets clients brief and budget

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency Speaking, Reading and Writing in Mandarin

HU, LUYAO Chinese Customer Service Representative 152.

Brief Job Description: Responsible for ensure customer satisfaction and provide professional customer support

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency speaking, reading and writing in mandarin.

LIEW WAY YAP Chinese Customer Service Representative 153.

Brief Job Description: Responsible for managing a team of junior customer service representative.

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

LUO, ZHAOJUN Chinese Interpreter 154.

Brief Job Description: Responsible for making travel arrangements, coordinating conferences calls, and handling RSVPs for event DERIC LAI YONG WEI Chinese Technical Support Representative

155.

Brief Job Description: Responsible for follow standard processes and procedure. PAU KAI LOON Chinese Technical Support Representative

156.

Brief Job Description: Responsible for follow standard processes and procedure. XU, CHAO Chinese Technical Support Representative

157.

Brief Job Description: Responsible for follow standard processes and procedure. RUDI HARYANTO Mandarin Administrative Associate

158.

Brief Job Description: Responsible for approving expenditure and issuing payments to vendors and supplies. CHEN, ZHENHE Mandarin Audit Associate

159.

Brief Job Description: Responsible for completes allocated task to a high standards which meet set reporting and auditing standards GUAN, XIN Mandarin Audit Associate

160.

Brief Job Description: Responsible for completes allocated task to a high standards which meet set reporting and auditing standards HENDRA Mandarin Frontdesk Associate

161.

Brief Job Description: Responsible for ensures that customers request is completed timely and accurately.

KIKI ROSALINA Mandarin Marketing Assistant 162.

Brief Job Description: Responsible for gathering data on campaign success, often through collecting audience feedback.

CHEN, LONG Mandarin Marketing Officer 163.

Brief Job Description: Responsible for prepare content for the publication of marketing material and oversea distribution

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Proficient in speaking, reading and writing in Thai

Salary Range: Php 500,000 and above

YOUBIN CONSULTANCY INC. 7/f Ba Lepanto Bldg., Paseo De Roxas, Bel-air, City Of Makati

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor., Washington St., Pio Del Pilar, City Of Makati

143.

Brief Job Description: Manage and develop multiple specialized teams of less experience managers and professional individual contributors with focus on delivering highly complex task and risk services for cross functional stakeholders, internal partners associated with the function or affected by its outcome; work with senior management to develop and execute business plans

Basic Qualification: 8+ years of Operation experience or equivalent demonstrated through one or combination of the following work experience, training, military experience, education

WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp., 213 Buendia Ave., San Antonio, City Of Makati

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

Basic Qualification: Excellent in writing, reading and speaking in bilingual languages

QUALIFICATION AND SALARY RANGE

SAIFUDDIN Vice President For Payment Operations Under Enterprise Payments Operations

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in writing, reading and speaking in Mandarin

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

WELLS FARGO INTERNATIONAL SOLUTIONS LLC-PHILIPPINES Wells Fargo Center, 1180 Wells Fargo Drive, Mckinley Hill Cyberpark, City Of Taguig

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

VERTEX DIGITAL ENTERTAINMENT TECHNOLOGIES, INC. 1439 Adriatico Cor. Sta. Monica St., 072, Barangay 669, Ermita, City Of Manila Basic Qualification: College Graduate With BUI THI NGA Experience in Maintaining It Specialist Gaming Devices; Fluent in 136. Mandarin and English Brief Job Description: Maintain the operation of electronic device Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with DINH DIEU LINH experience in maintain gaming It Specialist devices; fluent in Mandarin 137. and English speaking. Brief Job Description: Maintain the operations of electronic gaming devices. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate With GIU HEN KHIN Experience in Maintaining It Specialist Gaming Devices; Fluent in 138. Mandarin and English Brief Job Description: Maintain the operation of electronic device Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate With LUU VAN TU Experience in Maintaining It Specialist Gaming Devices; Fluent in 139. Mandarin and English Brief Job Description: Maintain the operation of electronic device Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with PHAN DANG THAN experience in maintain gaming It Specialist devices; fluent in Mandarin 140. and English speaking. Brief Job Description: Maintain the operations of electronic gaming devices. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate with THONG NHOC VAN experience in maintain gaming It Specialist devices; fluent in Mandarin 141. and English speaking. Brief Job Description: Maintain the operations of electronic gaming devices. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate With VONG CUN SENH Experience in Maintaining It Specialist Gaming Devices; Fluent in 142. Mandarin and English Brief Job Description: Maintain the operation of electronic device Salary Range: Php 30,000 - Php 59,999

LU, LINLIN Bilingual Admin Officer

ESTABLISHMENT / ADDRESS

Brief Job Description: Answer customer inquiries completely and accurately Salary Range: through live chat, emails and inbound/outbound calls to Php 30,000 - Php 59,999 resolves customer complaints TOTAL CREST BUSINESS SUPPORT, INC. 26/f & 27/f Alphaland Corporate Tower, Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati NGUYEN VAN TIEN Basic Qualification: Bilingual Field Marketing Officer Proficient in Speaking, Reading and Writing in Mandarin 132. Brief Job Description: Define a region-specific marketing plan that supports the Salary Range: regional sales strategy Php 30,000 - Php 59,999 TRI7 SOLUTIONS, INC. Unit 9-a 9/f Marvin Plaza Bldg., 2153 Don Chino Roces Ave., Pio Del Pilar, City Of Makati Basic Qualification: AEKPRASEART, ARISARA Proficient in writing, reading Thai Language Customer Service Representative and speaking in both English/ Bahasa/Thai/Chinese/ 133. Brief Job Description: Vietnamese/Malay Report on a daily basis operation of call centre activities performing customer oriented telephone activities & various Salary Range: background operation duties. Php 30,000 - Php 59,999 Basic Qualification: KEATCHAIVUT, NANTAPORN Proficient in writing, reading Thai Language Customer Service Representative and speaking in both English/ Bahasa/Thai/Chinese/ 134. Brief Job Description: Vietnamese/Malay Report on a daily basis operation of call centre activities performing customer oriented telephone activities & various Salary Range: background operation duties. Php 30,000 - Php 59,999 MATARAK, PHITHAKCHAI Thai Language Customer Service Representative

Friday, August 5, 2022

TAN CHEE HOW Mandarin Marketing Officer 164.

Brief Job Description: Responsible for prepare content for the publication of marketing material and oversee distribution

Basic Qualification: Proficiency Speaking, Reading and Writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency speaking, reading and writing in mandarin. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency speaking, reading and writing in mandarin. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency speaking, reading and writing in mandarin. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency speaking, reading and writing in mandarin. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency Speaking, Reading and Writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency Speaking, Reading and Writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency speaking, reading and writing in mandarin. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency speaking, reading and writing in mandarin. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency Speaking, Reading and Writing in Mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency Speaking, Reading and Writing in Mandarin Salary Range: Php 30,000 - Php 59,999

*Date Generated: Aug 4, 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.

A Business

Friday, August 5, 2022 | www.businessmirror.com.ph

A BORACAY EXPERIENCE LIKE NO OTHER Discovery Shores remains the go-to resort for business, pleasure

By Edwin P. Sallan

AVING regained the pristine form that has endeared it to millions of tourists from all around the planet, it’s no surprise that Boracay is once again the most sought-after tourist attraction in the Philippines. No less than Time.com has hailed it as “one of the world’s greatest places.”

Day shot of the facade of Boracay Shores

Batuan Roast Chicken

So, it’s equally not surprising that the acclaimed resort island has also found a solid market for Meetings, Incentives, Conferences, and Exhibitions (MICE). But whether an individual or group is coming to Boracay for business or pleasure, there is a plethora of accommodation options to choose from and easily one of the most popular is Discovery Shores. Located in Station 1 right smack at the center of Boracay’s world-famous White Beach, Discovery Shores is an awardwinning luxury resort named as one of the Top 25 Resorts in Asia in the 2021 Condé Nast Traveler Readers’ Choice Awards. Before that, it was also named Best for Families in Asia at the Condé Nast Johansens 2018 Awards for Excellence. A proud member of Preferred Hotels & Resorts’ vibrant Lifestyle collection, Discovery Shores boasts of 99 suites that will easily make both first time and returning visitors feel very much at home—as we did during our recent visit.

Safety protocols

ALTHOUGH visitors are now very welcome to visit Boracay, the still ongoing pandemic necessitates the observance of safety protocols. The Province of Aklan requires fully vaccinated individuals to fill up a Tourist Arrival Form, Health Declaration Card and Covid-19 vaccination ID or certificate from VaxCertPH while the unvaccinated need to undergo and test negative for an RT-PCR test. Upon arriving in the island, it was clearly noticeable how much Boracay has greatly benefitted not only from its six-month closure in 2018 that allowed for major renovation works and the improvement of its sewage system but also to its closure again in 2020 due to the Covid-19 pandemic. Those who haven’t visited the island for quite a while will be

greeted by newer and refurbished establishments including resorts, restaurants, bars, stores and yes, shopping malls (D’ Mall, City Mall and E.Mall). Even though its location has somewhat distanced itself from the madding crowd of the busier Station 2, Discovery Shores has remained the go-to resort of not only Boracay regulars but also first timers and corporate types.

Picturesque architecture

UPON arriving there, our group can’t help but marvel at the modern yet picturesque white architecture that takes up most of its sprawling landscape. A leisurely walk through its facilities alone is more than enough to keep us within its premises. “Instagram-ish” is an understatement to describe how picture worthy most of its facilities are. While there is a lot to discover on Boracay island as a whole, food alone is a good reason to remain in Discovery Shores. There are three restaurants and two bars from within the resort to keep us full for the duration of our stay. And just last summer, Discovery Shores started its Guest Chef Series that kicked off with numerous gastronomic feasts prepared by celebrated chefs Lau and Jackie Laudico. At The Sands restaurant facing the beach, we were treated to modern Filipino specialties which included carvery dishes like Batuan Roast Chicken, Lechon Baka (Angus Shortplate) and Belly Lechon by Chef Lau, and a selection of creative local dessert by Chef Jac which included Suman Panna Cota Rice Cake, Maja Blanca Cheesecake, and Tsokolate O (Tablea Custard). Known for its homegrown comfort dishes, The Sands served as the perfect venue for the Laudico couple’s Pinoy creations. Later at the Indigo Restaurant that serves seafood delights and a highly seasonal

Maja Blanca Cheesecake

Discovery Shores Boracay’s Executive Chef Jason Feeney Cruz with Guest Chef Jackie and Chef Lau Laudico at Sands Restuarant.

menu, Chef Lau regaled us with a generous serving of fresh Seafood Papillote. These bagfuls of savory pouches contained fresh prawns, mud crabs, Chilean mussels, salmon, octopus and lobster that were perfectly baked just a few minutes before serving. The Seafood Papillote came with Adlai Pilaf and Roasted Vegetables and were served with three different sauces: namely, Cognac Aligue sauce, Lemon Butter in Herb, and Garlic Lemon Butter. The hearty dish also came with a bottle of Jim Barry Rosé that perfectly complemented it.

Italian fare

ON our final night, we had dinner at the resort’s own Italian restaurant, the Forno Osterio where Chef Lau, again in fine form, treated us to an exquisite five-course tasting menu consisting of “Salmone E Tonno Crudo” (fresh Norwegian salmon served with orange emulsion, basil oil, roasted capsicum, lumpfish caviar, and salmon roe) as appetizer; “Zuppa D’orzo Con Fontina” (Orzo pasta with Tyrolean speck, white beans, and fontina cheese) as soup; “Grigliato Panzanela” (grilled romaine & tomatoes with grilled herbed bread, prosciutto crisp, calamata olives, burrata cheese, and anchovy vinaigrette) as salad. For the main course, Chef Lau paraded a surf and turf

Discovery Boracay Front View

dish of “Frutti De Mare Ala Milanese E Bisteca Con Salsa Al Funghi” (seafood saffron risotto Milanese, grilled angus ribeye, served with truffle mushroom sauce) while Chef Jackie concluded the evening with her “Torta Olio D’oliva Limoncello” (olive oil cake, served with limoncello and gelato). Each dish was wonderfully paired with premium wines by Jim Barry, a boutique winery from Australia. In between meals, we also checked out the wide array of alcoholic and non-alcoholic beverages at The Sand Bar and the elevated 360 Roof Lounge. What makes the 360 Roof Lounge so special is that aside from the 360-degree view over Boracay and the sea that it offers (hence, the name), its added facilities include a pool deck, a

hammock to laze in and a choice of either a Jacuzzi or infinity lounge pool to further relax and unwind. The Signature Suites, are of course, another big reason why Discovery Shores stands head and shoulders above the other resorts that pretty much surround Boracay. The suites are characterized by high ceilings, spacious dining areas, separate living rooms and balconies that provide a breathtaking view of the island and its coastal waters. All told, a visit to one of the world’s greatest places combined with staying in one of the Top 25 Resorts in Asia will surely result in a Boracay experience like no other. Whether for a specially planned weekend or for a longer rendezvous, it’s really hard not to go wrong with Discovery Shores.

Chef Lau unwrapping the Seafood Papillote

The second Seafood Papillote contains fresh prawns, mud crabs, Chilean mussels and octopus

sMirror Special Feature

www.businessmirror.com.ph | Friday, August 5, 2022 A9

Stakeholders push for Boracay as ideal MICE destination I

By Patrick Miguel

N April 2018, then President Rodrigo Roa Duterte announced that Boracay, one of the most popular tourist destinations in the country, would be closed to tourists for six months. This closure would give way to the rehabilitation of the island because of the alleged faulty sewage system, with pipes disposing effluent directly to the sea. According to reports, most residential and business properties were found to have no official discharge papers and were presumed to be releasing wastewater to the sea. The “rehabilitation” took six months as it finally reopened on October 26, 2018. However, the joy of Boracay island returning to life was short-lived because in March 2020, the island closed its door to tourists once again due to the rising COVID-19 cases. Workers in Boracay heavily rely on the tourism industry, so when the island closed twice, workers were heavily affected. When quarantine restrictions were loosened, Filipinos took advantage of this and started going on out of town trips. Boracay was once again a favorite destination. During the first quarter of 2022 alone, a total of 267,278 guests visited Boracay with a daily average of between 4,000 to 6,000 guests. To sustain the momentum, Boracay’s multi-sectoral partners and stakeholders alongside the Department of Tourism (DOT) Region VI, the Tourism Promotions Board (TPB) of DOT and the local government of Malay have teamed up to form an alliance in the hope of transforming

Boracay into a resilient Meetings, Incentives, Conferences and Exhibitions (MICE) venue. “The real goal (of the Boracay MICE Alliance) is to be able to offer Boracay island not just as a leisure destination but of course as an option, a safe dynamic option for MICE business supporting sustainable tourism at the same time. That’s the core vision of the creation of the group,” the Alliance’s chairman Cleofe Albiso, who is also the Managing Director of Megaworld Hotels and Resorts, said. The Alliance recognizes the hurdles Boracay went through these past few years. Albiso added that it has not been easy for the island and added that “the creation of the Boracay MICE alliance is very apt because we know we can’t really be reliant on the leisure business alone.” “Too many people have been affected, too many businesses have been put to a test, and it’s time for us to look at other segments and MICE is really one of those,” she added.

More than leisure traveling

Other than leisure traveling, MICE Alliance aims to promote business-related destinations in tropical islands such as Boracay. “We want the world to know that aside from Boracay being a leisure destination, we are a MICE destination. We just want to strengthen that message and we just want everybody to finally know that this is not just an island for leisure. Bring your company to the island and have a leisurely meeting on the island,” said Elmar Lina, Boracay MICE Alliance President and General Manager of Savoy Hotel Boracay.

There is an “economic multiplier effect” if MICE is cultivated in the island, Albiso said. She explained that companies who visit Boracay for MICE purposes would also help local businesses such as retail shops, bars, water sport activities, transportation, and among others. “It really expands the economic boost,” she added. However, despite how promising the MICE project is, there is still a hurdle that needs to be addressed: the lack of tourists. Felix Delos Santos Jr., Chief Tourism Officer of Malay, Aklan pointed out that while Boracay is averaging 5,800 visitors a day, the number is still small as the island has 356 DOT accredited facilities with 13,583 rooms.

“If and when the MICE tourists start coming in, Boracay has been ready since 2020. That’s because the government has been collaborating with the tourism frontliners and all our health and safety protocols are in place,” he added. He added that they have been cultivating “skills enhancement” activities with the help of the DOT and the private sector during the lockdown.

Why Boracay

When asked why Boracay was the ideal MICE destination, Myrine Jade C. Esmaya, RN, DOT Region VI MICE Officer, said the island has everything that is needed to have successful MICE events.

“It’s an all-in-one experience in Boracay because you don’t have to travel hours to do your other activities. If you want to go diving or island hopping, if you want to go biking, food trips or relax in the spa, or bar hopping, it’s all there in Boracay. Everything is within reach,” Esmaya said. Recognizing the sustainability and accessibility of Boracay island, Delos Santos Jr. said the island was ideal because “name it and we have it.” For Lina, going to Boracay for MICE activities is “putting business and leisure all together in one.” “Imagine having a business trip in Boracay and after your business trip, you can just easily

go to the beach which is just a few steps away. Imagine holding a convention, an exhibition in Boracay New Coast. You have the Sibuyan Sea just a few meters away with the beach front. And you cannot experience that in any other MICE destination. Boracay has it all,” he added. As her parting message, Albiso called on the other stakeholders to join the alliance so that the island can be formally launched as the preferred MICE destination in the Philippines. “Putting your MICE here is not just helping us recover. It is making lives and livelihood continue. So, you are not just helping the business sector, you are helping individuals sustain their jobs and be able to put food on the table of families who are dependent on the business they get in the island,” Albiso said.

BusinessMirror

Friday, August 5, 2022

A10

Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4 Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

August 5, 2022

NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S)

ESTABLISHMENT AMKOR TECHNOLOGY PHILIPPINES, INC.

119 N Science Ave., Laguna Technopark, Biñan, City of Biñan, Laguna

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

KIM, YOUNG GON

Basic Qualification:

Director/PMLF

Must be an engineering course graduate with more than 10 years in same/related field

AUNG THAN OO

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Salary Range:

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s: NO.

www.businessmirror.com.ph

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

NANG KHAING YIN MYAT TUN

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Salary Range:

Brief Job Description:

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

THAN THAN SEIN

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Salary Range: Handle the station’s frontline to endline process 2

CUTECH PROCESS SERVICES PHILIPPINES, INC.

4th Floor, Unit 4C, Maptan Buidling, Pallocan Kanluran, Batangas City, Batangas

PALANISAMY, TAMILARASAN

Basic Qualification:

Advance Non-destructive Testing Specialist

10 years of experience in advanced non-destructive testing & training services

H.R.D. SINGAPORE PTE LTD

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Brief Job Description: Salary Range:

Brief Job Description:

14 Php60,000 - Php89,999

MIYAKOSHI, MASATO

Basic Qualification:

Technical Adviser - R&D Sheet Metal

Knowledge in house plans and construction

Block 3, CEZ II, Bacao II, City of General Trias, Cavite

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

20, Lanceta Town House, Barandal, City of Calamba, Laguna

HANMIGLOBAL CO., LTD. PHILIPPINES BRANCH OFFICE (THE HG-PBO) 20, Lanceta Town House, Barandal, City of Calamba, Laguna

JECO AUTOPARTS PHILIPPINES INC.

CHEN, MAOLIN

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Salary Range: Salary Range:

HANMIGLOBAL CO., LTD. PHILIPPINES BRANCH OFFICE (THE HG-PBO)

Php30,000 - Php59,999

Brief Job Description: Brief Job Description:

Manage incoming calls and customer inquiries Salary Range:

Perform and can supervise ANDT, PAUT, TOFD, MFL, EOT, IRIS testing 3

13 Php500,000 and above

In charge of research and development sheet products

Php90,000 - Php149,999

LEE, BYUNG KWAN

Basic Qualification:

Architectural Project Manager

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Has an excellent managerial experience

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

HUANG, DECHENG

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Salary Range: Brief Job Description: Salary Range: Coordinate and contact clients to present proposals or reports of construction works

Php90,000 - Php149,999

CHOI, YEONGHWO

Basic Qualification:

Electrical Manager

Has an excellent managerial experience

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

HUANG, LONGGANG

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Salary Range:

Brief Job Description: Salary Range: Validate and introduce materials related to electric and circuit

Php60,000 - Php89,999

KIM, SE WAN

Basic Qualification:

Project Quality Manager

Has an excellent managerial experience

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

HUANG, PING

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description:

Salary Range:

Salary Range: Handle the quality management and project management section

Php60,000 - Php89,999

JANG, YONG GU

Basic Qualification:

Senior Manager

Has an excellent managerial experience

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Brief Job Description: Salary Range:

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

HUANG, SHIH-TIEN

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Salary Range:

Manage the project staff including the selection, hiring, training and conducting performance evaluations

Php60,000 - Php89,999

KATSUMATA, AKIHITO

Basic Qualification:

President / Director

College graduate

Brief Job Description:

Salary Range:

Brief Job Description:

Act as chief executive officer of the corporation and shall direct business affairs

Php90,000 - Php149,999

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

HNIN EI WAI

Basic Qualification:

SONG, BINGGANG

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

Chinese Customer Service Representative

Able to speak, read and write Chinese language

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

122 Excellence Ave., CIP I, Canlubang, City of Calamba, Laguna

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

QIAO, ZHIWEI

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Salary Range:

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Brief Job Description:

Salary Range:

Salary Range: Manage incoming calls and customer inquiries

Php30,000 - Php59,999

AIKE KHAM HLA

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese language

21 10

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

WEI, ZHENGAO

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Salary Range:

Brief Job Description: Salary Range: Manage incoming calls and customer inquiries

Php30,000 - Php59,999

Manage incoming calls and customer inquiries

Php30,000 - Php59,999

News BusinessMirror

www.businessmirror.com.ph

Friday, August 5, 2022 A11

PHL one of the least cyber-secure nations worldwide–UK SEO firm

By Cai U. Ordinario

@caiordinario

HE Philippines is one of the least cyber-secure countries in the world, according to a study conducted by a United Kingdom-based search engine optimization (SEO) firm. A study done by Reboot Digital PR Services showed that the country’s cyber danger score was 62.7 out of 100. This ranked the Philippines 9th out of 25 Asian countries and 20th out of 87 countries in the world.

The least cyber-secure countries in the world are Indonesia and Cyprus whose overall score is 82.8 out of 100 while the most cyber secure country is Finland with a score of 12.6 out of 100.

“The Philippines [62.7] places in ninth with 19 monthly drive-by downloads and an average of 880 malware hosting sites online, which is only 20 sites more per 100,000 URLs than that of its relatively close neighbor, Malaysia—who ranks in third,” Reboot Digital PR Services said in a statement. “Nomads spend their time relaxing on the pristine beaches and swimming in the glistening waters that your country is known for. Those more in tune with the thrum of city life may head to Manila to find out why it’s dubbed the city that ‘never sleeps,’” it added. Reboot Digital PR Services conducted the study to identify the

most cyber-secure and cyber insecure countries for digital nomads, particularly those on work-cation. This research analyzed the cyber threat landscape within each country considering the prevalence of phishing and malware along with botnet networks. In the Philippines, the study found, 7.98 restaurants and cafes per million are offering free Wi-fi connection. In this category, the country ranked 15th out of 87 countries with the least number of establishments offering free Wi-fi connection. The data also showed the country ranked 14th overall with a monthly average of 19 per 100,000 URLs as drive-by download pages.

The Philippines also ranked 22nd overall with 200 per 100,00 URLs deemed as “phishing” sites while the country ranked 24th overall with 880 per 100,000 URLs as malware hosting sites. The data also showed the country ranked 29th overall since 790 out of 100,000 Internet users have compromised computers. Globally, Indonesia and Cyprus, both popular destinations for tourists and digital nomads, shared the crown for the least cyber-secure country in the world. They were followed by Malaysia and Vietnam with cyber danger scores of 79.9 and 78.2 out of 100. Rounding up the top 5 least cyber-

secure countries in the world is Bulgaria with a cyber danger score of 77.6 out of 100. The company used Python data mining tools to extract cyber-security statistics from over 90 Microsoft Security Intelligence reports in 2017. This resulted in a comprehensive dataset containing the number of phishing sites, malware hosting sites, compromised computers (part of gamarue botnet), and average monthly drive-by download pages for over 90 countries. Each statistic collected, the company said, was presented on a per 100,000 URLs basis, with the exception of compromised computers presented per 100,000 Internet users.

TheWorld BusinessMirror

A12 Friday, August 5, 2022

US-China ties on a precipice after Pelosi visit to Taiwan By Matthew Lee

AP Diplomatic Writer

ASHINGTON—US-China relations are teetering on a precipice after House Speaker Nancy Pelosi’s visit to Taiwan. Pelosi received a rapturous welcome in Taipei and was applauded with strong bipartisan support in Washington, despite the Biden administration’s misgivings. But her trip has enraged Beijing and Chinese nationalists and will complicate already strained ties even after her departure. Already, China is preparing new shows of force in the Taiwan Strait to make clear that its claims are non-negotiable on the island it regards as a renegade province. And, as the US presses ahead with demonstrations of support for Taiwan, arms sales and diplomatic lobbying, the escalating tensions have raised the risks of military confrontation, intentional or not. And the trip could further muddle Washington’s already complicated relationship with Beijing as the two sides wrest with differences over trade, the war in Ukraine, human rights and more. Wary of the reaction from China, the Biden administration discouraged but did not prevent Pelosi from visiting Taiwan. It has taken pains to stress to Beijing that the House speaker is not a member of the executive branch and her visit represents no change in the US “one-China” policy. That was little comfort for Beijing. Pelosi, who is second in line to the US presidency, was no ordinary visitor and was greeted almost like a head of state. Taiwan’s skyline lit up with a message of welcome, and she met with the biggest names on the island, including its president, senior legislators and prominent rights activists. Chinese officials were enraged. “What Pelosi has done is definitely not a defense and maintenance of democracy, but a provocation and violation of China’s

sovereignty and territorial integrity,” Foreign Ministry spokesperson Hua Chunying said after her departure. “Pelosi’s dangerous provocation is purely for personal political capital, which is an absolute ugly political farce,” Hua said. “ChinaUS relations and regional peace and stability is suffering.” The timing of the visit may have added to the tensions. It came ahead of this year’s Chinese Communist Party’s Congress at which President Xi Jinping will try to further cement his power, using a hard line on Taiwan to blunt domestic criticism on Covid-19, the economy and other issues. Summoned to the Foreign Ministry to hear China’s complaints, US Ambassador Nicholas Burns insisted that the visit was nothing but routine. “The United States will not escalate and stands ready to work with China to prevent escalation altogether,” Burns said, according to the State Department. The W hite House also said that Pelosi’s visit “doesn’t change anything” about the US posture toward China and Taiwan. Press secretary Karine Jean-Pierre said the US had expected the harsh reaction from China, even as she called it unwarranted. “We are going to monitor, and we will manage what Beijing chooses to do,” she added. Alarmed by the possibility of a new geo-strategic conflict at the same time the West sides with Ukraine in its resistance to Russia’s invasion, the US has rallied allies to its side. The foreign ministers of the Group of 7 industrialized democracies released a statement Wednesday essentially telling China—by the initials of its formal name, the People’s Republic

of China—to calm down. “It is normal and routine for legislators from our countries to travel internationally,” the G-7 ministers said. “The PRC’s escalatory response risks increasing tensions and destabilizing the region. We call on the PRC not to unilaterally change the status quo by force in the region, and to resolve cross-Strait differences by peaceful means.” Still, that status quo—long identified as “strategic ambiguity” for the US and quiet but determined Chinese opposition to any figment of Taiwanese independence—appears to be no longer tenable for either side. “It’s getting harder and harder to agree on Taiwan for both Beijing and Washington,” said Jean-Pierre Cabestan, an emeritus professor at Hong Kong Baptist University. In Taipei and the US Congress, moves are afoot to clarify the ambiguity that has defined US relations with Taiwan since the 1970s. The Senate Foreign Relations Committee will soon consider a bill that would strengthen relations, require the executive branch to do more to bring Taiwan into the international system and take more determined steps to help the island defend itself. Writing in The New York Times, committee C ha ir ma n Rober t Menendez, D-N.J., lambasted China’s response to Pelosi’s visit. “The result of Beijing’s bluster should be to stiffen resolve in Taipei, in Washington and across the region,” he said. “There are many strategies to continue standing up to Chinese aggression. There is clear bipartisan congressional agreement on the importance of acting now to provide the people of Taiwan with the type of support they desperately need.” But China appears to be pressing ahead with steps that could prove to be escalatory, including live-fire military exercises planned for this week and a steady uptick in flights of fighter jets in and near Taiwan’s self-declared air defense zone. “They are going to test the Taiwanese and the Americans,” said Cabestan, the professor in Hong Kong. He said the actions of the

US military in the area, including a naval force led by the aircraft carrier USS Ronald Reagan, will be critical. China had ratcheted up potential confrontation weeks ago by declaring that the Taiwan Strait that separates the island from the mainland is not international waters. The US rejected this and responded to by sending more vessels through it. Cabestan said that showed that “something had to be done on the US side to draw red lines to prevent the Chinese from going too far.” Meanwhile, Taiwan is on edge, air raid shelters have been prepared and the government is increasing training for recruits serving their four months of required military service —- generally considered inadequate—along with annual two-week annual refresher courses for reservists. “The Chinese feel that if they don’t act, that the United States is going to continue to slice the salami to take incremental actions toward supporting Taiwan independence,” said Bonnie Glaser, a China expert at the Asia Program at the German Marshall Fund. She said that domestic US support for Taiwan actually gives China added incentive to take a strong stance: “China does feel under pressure to do more to signal that this is an issue in which China cannot compromise.” Despite the immediate concerns about escalation and potential miscalculation, there are others who don’t believe the damage to US-China ties will be more long-lasting than that caused by other, non-Taiwan-related issues. China is “going to raise a huge fuss and there will be military exercises and there will be embargoes on importing Taiwan goods. And after the shouting is over, you will see a gradual easing,” said June Teufel Dreyer, a Chinese politics specialist at the University of Miami. “The situation never goes back to completely normal, whatever normal is, but it will definitely die down,” she said. AP writers Zeke Miller in Washington, Joe McDonald in Beijing and David Rising in Phnom Penh, Cambodia, contributed to this report.

Asian shares rise on optimism on economic data and earnings By Yuri Kageyama AP Business Writer

OKYO—Asian shares mostly rose Thursday as investors welcomed encouraging economic data and quarterly earnings reports from big companies. Benchmarks rose across the region, including Japan, China, Australia and South Korea. The gains followed a strong rally on Wall Street. Jitters eased over the visit of US House Speaker Nancy Pelosi to Taiwan after she left for South Korea and then later Japan, firm US allies for decades. But analysts said some geopolitical risks remain, with China conducting military exercises near the self-ruled island that it claims as its own territory. “Despite the easing in immediate concerns, investors will be looking out for any potential escalation in US-China tensions, with any economic sanctions from China likely to negatively affect risk sentiment and positioning in Asian markets,” said Anderson Alves of ActivTrades. Alves said investors are also watching US nonfarm payrolls, due Friday, for indications on hiring, and how that might affect interest rate policy. But overall Pelosi’s trip so far has had little impact on markets.

Japan’s benchmark Nikkei 225 added 0.5 percent in morning trading to 27,892.68. Australia’s S&P/ASX 200 gained 0.2 percent to 6,990.30. South Korea’s Kospi added 0.4 percent to 2,471.26. Hong Kong’s Hang Seng rose 1.7 percent to 20,105.06, while the Shanghai Composite edged up 0.4 percent to 3,175.17. On Wall Street, the S&P 500 rose to 4,155.17, an almost 2-month high. The Nasdaq gained 2.6 percent to 12,668.16. Both indexes more than recouped losses earlier in the week. The Dow Jones Industrial Average rose 1.3 percent to 32,812.50. The Russell 2000 index of smaller companies ended 1.4 percent higher, at 1,908.93. Technology companies, retailers and communications companies were some of the biggest winners. Only energy sector stocks fell, dragged down by lower oil prices. Investors cheered a report on the services sector, which makes up the bulk of the US economy. The sector grew faster than expected in July, according to the Institute for Supply Management. A separate report showed US orders for big-ticket, durable goods increased more than expected in June. Some weak recent data on the economy heightened speculation that the peak for inflation and for the Federal Reserve’s aggressive rate hikes may be approaching or

has already passed. The weak data, though, also shows the risk of a recession as the Fed puts the brake on the economy. That’s why Wednesday’s more positive economic reports helped put traders in a buying mood. “That just provides people with more evidence that this economy is hanging in there,” said Jeff Buchbinder, equity strategist for LPL Financial. “At this point, we have a combination of evidence that inflation is coming down.” The yield on the 10-year Treasury fell to 2.71 percent from 2.73 percent late Tuesday. Earnings remain in focus this week as investors parse the latest results and statements from companies to better understand how inflation is affecting businesses and consumers. Drugstore chain CVS rose 6.3 percent after reporting solid financial results and raising its profit forecast for the year. Starbucks rose 4.3 percent after also reporting solid financial results. Nearly three-quarters of companies within the benchmark S&P 500 have reported earnings for the latest quarter and the results have mostly beaten analysts’ forecasts. Several companies, though, have slipped amid disappointing results. Taco Bell owner Yum Brands fell 1.9 percent following a weak earnings report and online dating service company Match Group tumbled 17.6 percent after giving investors

a weak financial forecast. PayPal jumped 9.2 percent on a report that activist investor Elliott Management has taken a large stake in the payment company. Robinhood Markets, whose stock trading app helped bring a new generation of investors to the market, rose 11.7 percent following an announcement that it’s cutting nearly a quarter of its workforce. Crashing cryptocurrency prices and a turbulent stock market have kept more customers off its app. Oil prices rose following Opec’s decision to boost production in September at a much slower pace than previous months. Benchmark US crude added 34 cents to $91.00 a barrel. On Wednesday, US crude oil fell 4 percent to settle at $90.66 per barrel. Brent crude, the international standard, added 21 cents to $96.99 a barrel. Markets are also watching for potential economic fallout from China after US House Speaker Nancy Pelosi’s visit to Taiwan. China claims self-ruled Taiwan as part of its territory, and banned imports of Taiwanese citrus fruits and frozen fish in retaliation for Pelosi’s visit. But it has avoided disrupting the flow of computer chips and other industrial goods, a step that could jolt the global economy.

AP Business Writers Damian J. Troise and Alex Veiga contributed.

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

Asean urges US, China to avoid ‘provocative action’ over Taiwan By David Rising

The Associated Press

HNOM PENH, Cambodia— The Association of Southeast Asian Nations is calling for calm in the Taiwan Strait, urging against any “provocative action” in the wake of a visit to Taipei by US House Speaker Nancy Pelosi that has infuriated Beijing. In a rare statement on such issues from the 10-nation group, some of whose members drift more toward China in allegiance and some toward the United States, Asean foreign ministers meeting in Phnom Penh, Cambodia said Thursday that they were concerned the situation could “destabilize the region and eventually could lead to miscalculation, serious confrontation, open conflicts and unpredictable consequences among major powers.” Both US Secretary of State Antony Blinken and Chinese Foreign Minister Wang Yi were taking part in the ongoing Asean meetings in Phnom Penh on Thursday and Friday. Pelosi received a euphoric welcome as the first US House speaker, and highest-ranking US official, to visit Taiwan in more than 25 years, and China swiftly responded by announcing multiple military exercises nearby. China claims the self-governing island of Taiwan as its territory and opposes any engagement by Taiwanese officials with foreign governments. Beijing has accused the US of breaking the status quo with the Pelosi visit, while the US insists

there has been no change to its “one-China” position of recognizing the government in Beijing, while allowing for informal relations and defense ties with Taipei. On the other side, with China’s recent increase in military activities around Taiwan, Washington accuses Beijing of no longer accepting the status quo. Shortly after Pelosi landed Tuesday night, China announced live-fire drills that reportedly started that night, as well as the four-day exercises starting Thursday. The People’s Liberation Army Air Force also flew a contingent of 21 warplanes toward Taiwan. Meantime, the US has an aircraft carrier group and other naval assets in the region. In their statement, the Asean foreign ministers called for “maximum restraint” and for all sides to “refrain from provocative action.” “The world is in dire need of wisdom and responsibility of all leaders to uphold multilateralism and partnership, cooperation, peaceful-coexistence and healthy competition for our shared goals of peace, stability, security and inclusive and sustainable development,” they said. “We should act together and Asean stands ready to play a constructive role in facilitating peaceful dialogue between all parties including through utilizing Aseanled mechanisms to deescalate tension, to safeguard peace, security and development in our region.” Asean is made up of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

China drills force ships to sail around Taiwan danger zones By Kevin Varley, Stephen Stapczynski & Ann Koh

HIPPERS rerouted vessels as China began its most provocative military drills in decades around Taiwan, creating logistical headaches for global supply chains. The maneuvers, announced by Beijing in the wake of US House Speaker Nancy Pelosi’s visit to Taiwan, are taking place in six different areas around the island from noon local time Thursday until Sunday. China has advised ships and aircraft not to get near regions where exercises are taking place. Some ships continued to t rave l t h roug h t he Ta iw a n Strait on Thursday, with a few still in the drill zones, according to data compiled by Bloomberg. As of noon, there were approximately 15 vessels in the exercise regions, compared to 45 at the same time Wednesday. There were no ships in the zone closest to the China mainland in the Taiwan Strait. Vessels are also being rerouted around the eastern side of the island, which will create delays of about three days, shipbrokers estimate. Delays of that duration aren’t uncommon, and the longterm impact may be minimal if tensions ease next week. However, the risks for ships traveling through Chinese waters may be compounded by bad weather, threatening further delays. Shenzhen city, which hosts the Yantian container port and lies directly west of Taiwan’s southern tip, issued a tropical cyclone warning, citing a lowpressure system about 117 kilometers (73 miles) away as of Thursday morning.

The Taiwan Strait is a key route, with almost half of the global container fleet passing through the waterway this year. The disruption is just the latest inconvenience for supply chains, which have been reeling since the start of the pandemic and Russia’s invasion of Ukraine. At least one liquefied natural gas tanker south of Taiwan changed course to avoid militar y drills, according to ship-tracking data compiled by Bloomberg. Several other ships are reducing speed to avoid the maneuvers, which will result in small delivery delays to Taiwan and other nearby countries, traders said. Some agricultural container cargoes from Southeast Asia to China have been postponed to load next week to avoid the risks, while some couldn’t be rescheduled and are still waiting for shipping companies’ notices, according to a Shanghai-based commodity trader. Taiwan’s Maritime Port Bureau issued a notice warning ships to avoid the area where drills will take place as there is no fixed route for sea transportation, according to Taiwan’s transportation minister Wang Kwo-tsai. Ta iwa n’s For mosa Pet ro chemical Corp. said Thursday morning there are currently no delays or postponements of cargoes heading to or leaving Mailiao port. CPC Corp., which has a refinery in Kaohsiung, located close to one of the drill zones, said its port operations remain unaffected. “We’re very careful and asking port and ship agents to be cautious, and to not go into the drill zones,” said FPCC spokesman Lin Keh-Yen. Bloomberg News

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UN chief criticizes ‘grotesque greed’ of oil, gas companies By Edith M. Lederer

The Associated Press

NITED NATIONS—The United Nations chief sharply criticized the “grotesque greed” of oil and gas companies on Wednesday for making record profits from the energy crisis on the back of the world’s poorest people, “while destroying our only home.” Secretar y- Genera l A ntonio Guterres said it was “immoral” that the largest energy companies in the first quarter of the year made combined profits of close to $100 billion. He urged all governments to tax these excessive profits “and use the funds to support the most vulnerable people through these difficult times.” Guterres urged people everywhere to send a message to the fossil fuel industry and their financiers that “this grotesque greed is punishing the poorest and most vulnerable people, while destroying our only common home, the planet.” The secretary-general spoke at the news conference launching a report by the Global Crisis Response Group he set up to tackle the triple interconnected crises of food, energy and finance which have especially hit countries trying to recover from the Covid-19 pandemic and deal with the devastating impact of the war in Ukraine. Guterres told reporters that “we are seeing excessive, scandalous profits of the oil and gas industry in a moment in which all of us are

losing money” because of inflation around 7 percent-8 percent. And “nothing will be more popular than to tax the excessive profits…and to distribute that money to the most vulnerable families,” he said. The crisis group has already presented recommendations on food and finance and Guterres said he believes “we are making some progress” in those areas, especially on food. The report released Wednesday focuses on the energy crisis, and the secretary-general said it aims to achieve the equivalent of the grain deal he first proposed to the Russian and Ukrainian presidents to enable Ukrainian grain to be shipped from Russian-blockaded ports on the Black Sea to world markets in desperate need of food supplies. The first ship to leave Ukraine was headed to Lebanon Wednesday after a three-hour inspection in Turkish waters. Guterres said speculators and obstacles to getting grain and fertilizers to global markets during the Ukraine war sent food prices soaring. But since negotiations on the grain deal “gained traction,” he said, there has been “a significant fall” and today prices

UNITED Nations Secretary-General Antonio Guterres makes remarks before the 2022 Nuclear Non-Proliferation Treaty (NPT) review conference in the United Nations General Assembly on Monday, August 1, 2022. AP/YUKI IWAMURA

of most foodstuffs and fertilizers are more or less at their prewar prices. “But that doesn’t mean that bread in the baker y is at the same price before the war, because these are quotations in wholes a le m a rket s, some of t hem related to f utures,” he said, and there are a lot of other factors contributing to rising prices including transportation and insurance costs and supply chain disruptions. UN trade chief Rebeca Grynspan, who coordinated the crisis group, said wheat prices are down almost 50 percent from their peak, corn and fertilizer prices have dropped almost 25 percent in the past month and crude oil is now around $93 a barrel compared to $120 dollars a barrel in June. “Only natural gas has bucked the trend and is still higher than a month ago,” she told reporters by video from Geneva. Falling prices are “good news,” Grynspan said, but they have been high for too long and since June forecasts for extreme poverty have risen by 71 million people and forecasts for food insecurity by 47 million.

In another key recommendation, the crisis group urges richer developed countries, especially, to conserve energy including by reducing air conditioning and heating use and by promoting public transport “and nature-based solutions.” Guterres said new technologies including storage for batteries “should become public goods,” and governments must scale up and diversify supply chains for raw materials and renewable energy technologies. The group also recommends scaling up private and multilateral finance for “the green energy transition.” And it backed the International Energy Agency’s goal of increasing investments in renewable energy by a factor of seven to meet the goal of cutting greenhouse gas emissions to “net zero” by 2050 to help curb manmade climate change. “ Today, developing countries are spending around $150 billion on clean energy,” said Grynspan, the secretar y-general of the United Nations Conference on Tr ade a nd D e ve lopme nt . “ They need to spend $1 trillion in investments.”

Argentina vows end of money printing to battle 60% inflation By Patrick Gillespie & Scott Squires

RGENTINA’S new Economy Minister Sergio Massa pledged Wednesday night to stop printing money that helps fuel runaway inflation, outlining his strategy to turn around the country’s deepening crisis. Massa rolled out his economic roadmap after being sworn in by President Alberto Fernandez as the third such minister in a month. Massa’s measures also focused on boosting exports, reducing the country’s fiscal deficit and increasing the central bank’s dwindling reserves. Massa inherits the enormous challenge of taming inflation that’s now over 60 percent and expected to reach 90 percent by the end of this year. Cut off from international capital markets, Fernandez’s government has relied on money printing to cover its chronic fiscal deficit. “Magic doesn’t exist,” Massa bluntly told reporters in Buenos Aires. “We have to confront inflation with determination.” The government will finance its budget by reducing its deficit or via private lending. The country is considering four loan offers by three international banks and a sovereign wealth fund, he said, without providing a figure of the potential deal. Separately, Massa is launching

SERGIO MASSA, Argentina’s economy minister, speaks during a press conference at the Economy Ministry building in Buenos Aires, Argentina, on Wednesday, August 3, 2022. New Economy Minister Massa is preparing a set of measures to address one of Argentina’s key problems. BLOOMBERG PHOTO

a voluntary local debt swap in pesos for bonds that mature in the next 90 days. He said that there’s already 60 percent “adhesion” to the swap, without providing more details at the press conference. The government began discussions with some banks to offer a so-called dual bond to swap securities with maturities under 90 days, according to people with direct knowledge of the matter. Finance Secretary Eduardo Setti offered the dual bond, an instrument in which investors receive the highest rate out of two options at the time of the asset’s maturity. In this case, either an inflation-linked rate or a dollarlinked rate. A Massa spokesperson didn’t

respond to request for comment on the dual bond.

‘Technical aspects’

ALTHOUGH light on specifics, Massa committed to meeting the government’s primary deficit target this year, a key pillar of its $44 billion program with the International Monetary Fund. Massa said he spoke to IMF staff Wednesday to discuss the program’s future. An IMF spokesperson said in a statement that its staff spoke to Massa about implementing the program. “After meeting with the IMF on Wednesday, Argentina’s new economy minister, Sergio Massa, committed to stop using money issuance to fund the government.

This is a bold promise, but the minister didn’t lay out a credible path to get there. Without a detailed plan for cutting the deficit, we’re skeptical of any pledges,” said Adriana Dupita, Bloomberg’s Latin America economist. Investors said Massa needs to deliver more fine print details to assuage market concerns. “Massa’s speech had a strong political component and some aspirational components but was weak on the technical aspects that the market was demanding,” said Jorge Piedrahita, managing partner at Gear Capital Partners in New York. It rema ined u nc lea r how Massa would reduce the deficit while also providing one-time payments to retirees next week as well as “income recovery,” for low-wage private sector workers. He mentioned a “reordering” of social welfare plans focused on getting recipients to return to the job market, including suspending welfare plans for those who don’t participate in a hearing August 15. “Despite the commitment not to tap additional central bank funding, the measures do little to underpin fiscal credibility, so a fiscal anchor remains absent,” said Ramiro Blazquez, head of strategy at BancTrust & Co. in Buenos A ires. “Bottom-line, implementation details remain scarce.” Bloomberg News

A14 Friday, August 5, 2022 • Editor: Angel R. Calso

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editorial

Greed can destroy the tourism sector

ocial media is a powerful platform used by billions of people across the globe. For tourist destinations, social media provides an opportunity to reach prospective visitors globally. For customers, the platform makes it easier for them to communicate with businesses. Social media has the power to make or break a business. For example, a bad review about a tourist destination can turn away potential visitors, which is impossible to quantify.

Recently, a viral Facebook post showed a group of tourists being charged over P26,000 for various types of seafoods that they consumed in Panglao’s Virgin Island. The alleged food overpricing has alarmed the Department of Tourism and local government officials in Bohol. In a statement on August 2, Tourism Secretary Christina Garcia-Frasco said the overpricing by vendors “is a matter that the DOT takes seriously, especially as it concerns the welfare of tourists whose continued support for our destinations is critical to the recovery of the tourism industry.” Garcia-Frasco added: “The DOT has coordinated with the Department of Trade and Industry because it is imperative that reasonable pricing standards are upheld for purposes of consumer protection. Our regional office is also coordinating with the LGUs to provide guidance on standards for the provision of tourist goods and services.” Bohol Governor Aris Aumentado on Tuesday ordered the temporary suspension of trips to Virgin Island in Panglao after the alleged overpriced sale of seafoods in the area went viral online. Aumentado said: “We are grateful to social media because it has given us a solid reason for the Sangguniang Panlalawigan to craft resolutions or ordinances that can provide protection and order to tourists that have been exploited for a long time by some businessmen in Panglao and other cities.” The World Tourism Organization of the United Nations said the collapse in international travel because of Covid-19 represents an estimated loss of $1.3 trillion in revenues—more than 11 times the loss recorded during the 2009 global economic crisis. The pandemic has put between 100 and 120 million direct tourism jobs at risk, many of them in small and medium-sized enterprises. The Philippine tourism industry reportedly lost some $8 billion (P400 billion) in 2020 because of the pandemic. The tourism industry was one of the key contributors to the country’s economic growth before the pandemic. In 2019, for example, we registered 8.3 million tourist arrivals and P550.2 billion in international tourism receipts. In 2020, tourist arrivals and tourism receipts went down to 3.9 million and P279.5 billion, respectively. The shutdown of tourism establishments to help curb Covid infections has led to the country’s highest-ever unemployment rate. The Philippine Statistics Authority said over 7.3 million jobs were lost in 2020 alone, bringing our unemployment rate to a record high of 17.7 percent. With the closure of many tourism enterprises, employment in the sector declined by 18.1 percent in 2020 to 4.7 million workers from 5.7 million workers employed in 2019. As early as February 10 this year, the Philippines started easing restrictions and begun admitting fully vaccinated travelers from countries that do not require a visa. As the tourism sector starts to recover, many local destinations and tourism-related businesses and establishments are gradually recouping losses due to previously imposed travel restrictions. We understand the challenges faced by many tourism-related businesses and establishments, which are eager to recoup losses due to Covid travel restrictions. But all Filipinos need to help make our tourist spots more attractive to both foreign and local visitors if we want to maximize the sector’s potential. Let’s not be greedy in our desire to recoup our losses during the pandemic. We need to keep visitors happy, for them to recommend our tourist destinations to family and friends. As the DOT chief said, Tourism is a shared responsibility, and it is in helping each other along this period of recovery that we can fully enjoy the benefits that tourism brings. As stated earlier, the country’s income from travel and tourism is huge, amounting to P550.2 billion before the pandemic. A booming tourism sector will not only benefit stakeholders but the whole country as well. It’s best for tourism-oriented businesses to heed the wisdom of Desmond Tutu, a South African Anglican bishop and theologian, who once said: “There is only one way to eat an elephant: One bite at a time.” Greed can destroy the country’s tourism sector.

Bringing better health care to our people Sonny M. Angara

Better Days

mong the highlights of President Marcos Jr.’s first State of the Nation Address (SONA) was when he said that the government must bring health care to the people and not wait for them to come to the country’s hospitals and health-care centers. The inaccessibility of health care has long been a challenge the country has faced—one that is exacerbated by poor health-seeking behavior among Filipinos. An oft-cited study from the UPecon Foundation of the University of the Philippines School of Economics (UPSE), which has been reaffirmed in 2015 by the University of the Philippines National Institutes of Health (UP-NIH), found that up to six out of 10 Filipinos who succumb to sickness do so without see-

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ment, at least one satellite specialty hospital or specialized unit within a Department of Health (DOH) hospital is established in each of the pre-identified regions. Currently, under a 2021 DOH Department Order, there are 10 facilities that have been designated as national specialty centers, which are hospitals with the highest level of expertise in clinical services, teaching and training, and research; and are among the country’s apex or end-referral facilities for a given medical specialty. Unfortunately, all of these facilities are found within the National Capital Region (NCR), which possibly contributes to another longstanding problem of the health-care system—the apparent lack of health-care workers across the country. In fact, according to a 2019 Philippine Institute for Development Studies (PIDS) discussion paper, while national-level statistics may show that there is a sufficient supply See “Angara,” A15

The deeper implications of digitalization Dr. Leonardo A. Lanzona Jr.

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ing a medical professional. And as other studies have likewise shown, one of the top factors that dissuade citizens from going to the doctor relates to the actual physical distance they would have to travel just to get themselves checked. All these make the President’s pronouncement a most-welcome development. He also underscored that while many Filipinos have benefited from the Philippine Heart Center (PHC), the Lung Center of the Philip-

pines (LCP), the Philippine Children’s Medical Center (PCMC) and the National Kidney and Transplant Institute (NKTI), it is clear that the services and treatment that these specialty hospitals offer should be available to all throughout the country. We could not be more heartened by these words, because among the priority measures we filed at the beginning of the current 19th Congress was the Satellite Specialty Hospitals Act (SBN 93). The bill basically mandates existing specialty hospitals—specifically PHC, LCP, PCMC and NKTI—to establish satellite or affiliated centers in provinces that are geographically isolated, and to manage and operate these centers pursuant to their respective charters. The measure then calls on these specialty hospitals to formulate prioritization plans so that the satellite specialty hospitals to be established cater to the top burdens of disease in the region. The avowed goal is that within five years of our proposed law’s enact-

EAGLE WATCH

N his first State of the Nation Address (SONA), President Ferdinand R. Marcos, Jr. spoke of the need for a digital transformation in the country. He instructed the Department of Information and Communications Technology (DICT) to identify and utilize digital innovations to improve governance, specifically by deploying digital connectivity through the implementation of the National Broadband Plan and connecting the remote areas of the country through the “Broad Band ng Masa” project. In addition, he also pushed for the completion of the National Identification (ID) card system. Viewing the transformative power of digitalization, he looked forward to technological innovation in all sectors as it creates new wealth-producing opportunities that are accessible to everyone.

Indeed, several reasons exist for embracing digitalization as a means for social transformation. For one, given this technology, face-to-face transactions in the service sector will no longer be required, hence allowing for the possibility of scale economies, and enhancing trade in services. Moreover, with digitalization, the distinctions between services and industry can be blurred if service activities are used as inputs for industry, thus lowering the costs of doing business. Given these wellknown advantages, the push for digitalization is nothing more than a motherhood statement. However, the speech ignored a key aspect of this policy, which is the potential to commodify labor and, hence, create a series of social problems. If labor is only seen as

an input of production, instead of a measure of human dignity, increasing digitalization, where individuals are viewed merely as ID numbers, can bring about some sort of devaluation of the individual. As Karl Polanyi, a well-regarded labor sociologist, has indicated, labor is not a “fictitious product” that results from market transactions, and treating labor as such can result in the destruction of the worker’s essential character. With their power to set wages, employers can view labor as a mere factor of production rather than as a human quality, hence leading to conditions that are harmful to the very people who embody that labor. Polanyi suggested two ways to solve this problem of (dis)embeddedness or commodification. The first is the hard Polanyi approach,

which calls for labor market reforms. Such government-initiated changes aim to reverse the commodification effect and reinstate the competitive discipline of the labor market, a process termed as “re-commodification.” This implies the incorporation into the employment agreements of various institutional interventions— particularly firm internal conditions, social protection, and trade unionization—which reduce the market power of employers and enhance the rights of the workers. The second is the soft Polanyi approach, which is more methodological than theoretical. This pertains to societal embeddedness in ways that will influence the behavior of workers and employers within the acceptable institutional, social, and cultural context. Importance is given to community norms and institutions, and how a lead firm’s origin and heritage can operate more responsively. For instance, in a recent study of online labor platforms, the way American computer game artists, designers and programmers are embedded within occupational communities are deemed necessary in bringing social values to a particular transaction. Such work is important in highlighting the societal dimension of embeddedness and in rectifying over-reaching firm behavior through communitydriven movements. The point is that digital technology will not be eliminating any existing market power simply through adoption. Because of information asymmetry, digitalization will only reinforce this power. To enhance social welfare, digitalization should

be accompanied by laws or community norms that ensure fairness and security for all parties using such technology. Indeed, the government must first define the rights of the individuals. In short, digital transformation is a complex subject with significant effects on society. As the country engages in this technology, economic and social structures are invariably modified. The central issues are not about technological adoption but the underlying conditions that will direct this technology towards greater social welfare. Through both government intervention and community participation, digitalization can be a force for structural transformation with equity. Considering the current recovery process, seldom are we given a chance to take on this challenge. The SONA was comprehensive in the way that it’s been cast and written. However, it could also be fundamentally flawed because of its shallowness. The SONA should prioritize a few key goals, analyze these thoroughly, and attempt to work out an effective and more detailed plan to achieve them. For instance, we are all aware of how the digital economy, particularly the social media and the election processes, influenced the results of the just concluded presidential elections. President Marcos, Jr. could have used the SONA to highlight legally and socially the possible ways digitalization can eliminate disinformation to prevent election abuses and uncertainty from happening in the future. Dr. Leonardo A. Lanzona, Jr. is a Professor of Economics at the Ateneo de Manila University.

www.news.businessmirror@gmail.com

Amend the Rice Tariffication Law now!

Opinion BusinessMirror

Rethinking martyrs and monuments

By Raul Montemayor

Tito Genova Valiente

he Federation of Free Farmers (FFF) presents the following brief to explain the urgent need for major revisions in Republic Act No. 11203 or the Rice Tariffication Law (RTL).

1. RTL’s claimed benefits are overstated and deceptive: a. During RTL’s first three years (2019 to 2021), rice retail prices fell by an average of P6 per kilo, but only if compared to the exceptionally high prices during the rice crisis in late 2018. b. When analyzed against prices in 2017 (a more normal pre-RTL year), the above-cited average drop is only about half a peso for both regular milled rice (RMR) and wellmilled rice (WMR). c. RTL hurt poor consumers in particular—they spent P12/kilo more for the same RMR they had previously bought from NFA at P27/ kilo. About 87 percent of imported rice were premium grades sold to well-off consumers. d. For farmers, palay prices decreased by an average of P1.37/kilo vis-a-vis 2017 levels, causing cumulative losses of P66 billion and an income decrease of P4,657 per hectare per season. e. Most of the gains from cheaper rice imports were captured by market intermediaries. f. Undervaluation of rice imports was rampant, resulting in an estimated P12 billion in tariff undercollections to date. g. While palay output reached a historic high in 2021 of 19.96 million tons, this was only 3.5 percent more than production in 2017. Population growth actually outpaced the rise in domestic output, resulting in greater dependency on rice imports. h. Yields in 2021 were just 3.7 percent better than in 2017. The current average of 4.15 tons per hectare is still way below the minimum 5 tons (100 cavans) per hectare needed to be competitive against imports. i. There is no reliable and updo-date information on whether the estimated P40 billion spent for rice farmers under the RTL’s Rice Competitiveness Enhancement Fund (RCEF) have really reduced farmers’ production costs and improved their competitiveness. 2. Changes in the RTL should aim for: a. Proper management of imports and supply to ensure stock availability, while avoiding supply gluts that unduly depress palay prices. b. Ensuring that gains from lower import prices actually benefit consumers. c. Giving timely and effective relief to farmers negatively affected by the law. 3. To properly manage imports and supply, the following can be undertaken: a. Timely and accurate monitoring of stock levels, import volumes, and prices. b. Reinstate the issuance of import permits and licensing of accredited importers as tools for tracking and managing imports. c. Manage the issuance of sanitary and phytosanitary import clearances (SPSICs) to avoid supply gluts, particularly at harvest time. d. Use the minimum access volume (MAV) mechanism to better manage imports from non-Asean sources by adjusting MAV quanti-

Angara. . .

continued from A14

of health-care workers in the Philippines when benchmarked with international metrics, disaggregated data relating to where these health-care workers actually practice show how they are unevenly distributed across the country. The PIDS study estimated that less than 25 percent of cities and municipalities have a health hu-

Repeal may not be necessary, if amendments can ensure proper management of imports and supply situation, and adequate protection for rice farmers. ties and tariffs as deemed necessary; rescind Executive Order 171, which cut non-MAV tariffs to 35 percent. e. Streamline the process for imposing safeguard duties, and amend RTL so that government can temporarily ban rice imports during import surges (allowed under R.A. No. 8800 and World Trade Organization rules). f. For food security purposes, allow NFA to import rice and distribute limited volumes, subject to strict controls and parameters so as not to disrupt the normal operation of markets. g. Alternatively, empower NFA to purchase a certain percentage of private sector imports for NFA’s buffer stocks (buying price to be equal to the import price declared by importers). 4. To ensure that consumers truly benefit from cheaper imports, we can: a. Restore NFA’s powers to inspect warehouses and apprehend hoarders and price manipulators. b. Provide alternative sources of rice for consumers (including electronic trading systems, whereby farmers can sell directly to consumers using NFA and private warehouses as depository and logistic hubs). c. Authorize NFA to sell subsidized rice to targeted sectors. 5. To extend more timely and effective assistance to affected farmers, we can: a. Reconfigure the RCEF and other tariff collections to support interventions that are locationspecific and can be dynamically adjusted as farmers’ needs change over time. b. Maximize tariff collections by plugging loopholes that encourage undervaluation, misdeclaration and outright smuggling of rice imports. c. Aside from its buffer stocking functions, strengthen NFA’s capacity to prop up palay prices through strategic procurement (if necessary). d. Give incentives for local government units to provide marketing support to their farmer-constituents. e. In helping farmers acquire needed farm inputs and implements, allow them to select their preferred types and brands (“farmers’ choice”). 6. Repeal or amendment of RTL a. Repeal of RTL and a unilateral reinstatement of quantitative restrictions (QRs) on rice will require renegotiation of our obligations under the WTO and entail payment by way of concessions to some negotiating parties/countries. b. Repeal may not be necessary, if amendments can ensure proper management of imports and supply situation, and adequate protection for rice farmers.

Friday, August 5, 2022 A15

annotations

What you leave behind is not what is engraved in stone monuments, but what is woven into the lives of others.—Pericles

onuments and statues have long been considered as signs of civilization. Western in spirit, that sense has nevertheless seeped into the cultural politics of our country. The irony of it all is that only when a group or an individual calls our attention to the flaw of the memorial—either by commission or omission— that we begin to look once more at certain monuments and statues. At present, there is a wave of movement either changing names of certain places or structures or imposing a name on those that bear labels that are not connected to any dominant political family or regime. We can mention the move to change the name of the Ninoy Aquino International Airport (Naia) to Marcos. Obvious in this act, which comes from a congressman whose connection to the present President is through political affiliation and not by blood, is the tendency for politicians to insist on their legacy or on memories that will institutionalize their newfound power and status. That tendency also speaks volumes about how politics in this country always manifests itself in a show of force, the ability to erase names of those whose reign has somewhat dissipated the presences of those who now are in place to dictate new labels. Related in kinship to the case of the airport is a bill reportedly filed by Ilocos Norte 2nd District Rep. Angelo Marcos Barba seeking to rename the Mariano Marcos State University in Batac, Ilocos Norte, to Ferdinand E. Marcos State University (FEMSU). If approved, the university will bear the name of the son, banishing, in effect that of his father. While the shift from Aquino to Marcos, in itself politically confrontational and nearly bellicose,

has generated passionate reactions from both supporters of the two names, that of the university being renamed from Marcos to Marcos provides a novel situation. Will there be a division of the Marcos house? Will there be members of the clan who will be unhappy with the move, which will supplant the legacies that come from Mariano with the histories of Ferdinand? There are many more examples of this altered sentiments with regard to monuments. In the US, there is the case of Kate Smith, she of the “God Bless America” fame. The song became very popular in the aftermath of 9-11. It was even regularly played in record stations in nonAmerican places like Tokyo. But back in 2019, Smith’s statue was removed outside the arena of the Philadelphia Flyers, an ice hockey team, because she was discovered to have sung songs with racial slurs. What remains at present, according to the report, is just the base of the statue. In Metro Manila, we have Buendia

(pronounced “Buyndya” by many), which has been renamed Gil Puyat Avenue. Nicolas Buendia, an officer in the Philippine Revolutionary Army and one of the founders of the Philippine Independent Church, was an Assemblyman of the first District of Bulacan from 1935 to 1941 and Senator from 1941 to 1946. Gil J. Puyat was Senator from 1951 to 1972. What could be the reason for opting to let go of the older memory of a politician with one that was new? It is, however, to the ironic credit of the Filipinos that, with their reckless memories, they neglect to remember the new name and still honor the Katipunero. In Naga City, there is a famous landmark called the Quince Martires or the Fifteen Martyrs. It is a monument to 15 individuals (in some historical reports, only 11 suffered the

fate with four dying in jail or in exile) who were executed in 1897. Situated in the middle of the old commercial area of Naga City, the monument certainly has an iconic presence. At the apex of the monument are two figures common in statuaries: a man is about to slump

from being hit by a bullet while a female figure catches him with such power and passion, arresting the fall. These iconographic depictions can be found also in any Rizal monument, a sort of additional illustration to the narrative of the hero. The martyrs are all placed as basrelief busts around the base. The pedestal above these personages contain this dedication: El Pueblo de Camarines Sur a sus Quince Martires Del 96. This could be translated as “The Township of Camarines Sur and their Fifteen Martyrs of (18) 96.” It is that transcription, which urged the city council of Naga City to schedule a series of hearings to clarify what appears to be a harmless dedicatory inscription. The date, 1986, is a contentious fact. Why place that date when the relevant year for these martyrs is 1897, the date of their execution? Made in 1918 (some records mention 1923 as the date of its formal dedication), the monument seems to backtrack in order to honor the martyrs as being part of the 1986 Revolution. Memory thus plays a political game. The question does not end there, for at the pedestal of the monument, above the martyrs, is the proud eagle, an archetype closely linked to American conquest. Were the 15 Martyrs (13 in Cavite; 19 in Capiz/Aklan) a symbol perpetuated by the American colonizers? What about those not honored by monuments or statues? In our city, we will be looking at records, inviting historians. We will critique the past if only to make sense of our future. Other regions could do the same. E-mail: titovaliente@yahoo.com

Kenya’s election rips open scars of inequality, corruption By Cara Anna | The Associated Press

Raul Montemayor is the National Manager of the Federation of Free Farmers

Kenya’s August 9 election is ripping open the scars of inequality and corruption as East Africa’s economic hub chooses a successor to President Uhuru Kenyatta. The vastly rich son of the country’s founding leader, Kenyatta has deflected graft allegations by calling for transparency but done little in a decade in power to enable it. The vendors on a barren patch along Nairobi’s Outer Ring Road can hardly grasp the enormous amounts of money spent on next week’s election. Few can. In Kenya, candidates aren’t required to publicly account for campaign donations or spending. But voters have watched the helicopters and long convoys that have whisked top candidates around the country for months. “They’re spending millions of dollars, but I’m not sure if it’s their own money or the public’s money,” said Martin Wambua, who sells secondhand clothes and rarely is able to save anything from his earnings. “I know the (election spending) can fund more than 10 people a

day,” estimated Joseph Kaguthi, who walks everywhere selling baked goods and says he often eats just one daily meal. “But I’m a poor man, and maybe the way I talk is distant from the way it is.” Rising prices for food and fuel, exacerbated by Russia’s invasion of Ukraine and following the economic pain of the Covid-19 pandemic, add to the traditional ethnic tensions in a vote called so closely contested that Kenya might go to a runoff election for the first time. How the country of 56 million people will cope with extended uncertainty is a major question given a recent history of turbulent elections. The vote “will be an opportunity for Kenya to showcase its democracy to the world,” US Secretary of State Antony Blinken said Wednesday, arguing for “a peaceful and transparent democratic process.” Kenya’s 2017 vote saw results overturned by the courts, a first in Africa. Longtime opposition contender Raila Odinga boycotted the

ordered re-vote and declared himself the “people’s president” in a mock swearing-in that led to allegations of treason. The standoff ended when Kenyatta and Odinga, the son of Kenya’s first vice president, shared a public handshake. Now, in the latest twist of Kenya’s shifting alliances, Kenyatta is backing former rival Odinga to succeed him after falling out with his deputy president, 55-year-old William Ruto, the other main presidential candidate and a former Odinga ally. Ruto was indicted by the International Criminal Court for crimes against humanity for his role in violence following the 2007 election that killed more than 1,000 people after Odinga alleged he had been cheated out of victory. An ICC indictment is hardly a bar to the presidency; Kenyatta was indicted over the turmoil, too. Both men saw their cases terminated amid allegations of witness tampering. Said to be one of Kenya’s richest men after a decade as deputy president, Ruto promotes himself to the young and poor as a “hustler” who rose from humble beginnings as a chicken seller in contrast to the elite backgrounds of Kenyatta and Odinga. He says he seeks greater agricultural productivity and financial inclusion. Agriculture is a main driver

man resource (HHR) density that is above the 41 physicians, nurses, and midwives per 10,000 population standard recommended by the World Health Organization. This suggests that as much as 75 percent of all cities and municipalities do not have a sufficient number of healthcare workers. The discussion paper then explained further that while the number of health-care workers was generally increasing in the past 25 years, these workers were more likely to locate in areas

with greater earning potentials (i.e. highly urbanized cities), and in communities close to where they are trained. This is where our bill on Satellite Specialty Hospitals dovetails with the Doktor Para Sa Bayan Act (RA 11509), which was enacted earlier this year under the 18th Congress. The measure, which was principally authored by former Senate President Tito Sotto, sponsored by then Senate Committee Chairman on Higher Education Joel Villanueva, and co-authored by

14 other senators (including myself), establishes a program wherein statesupported medical scholars will undergo a mandatory return of service at public health institutions, including the satellite specialty hospitals that hopefully will be established in the coming years. We are trying to address this issue from another angle—by supporting the creation of hospitals in state universities and colleges (SUCs) that already offer medical degrees. Filed as SBN 92 under the present Congress,

our proposed Health Facility Augmentation Act will not only increase the overall hospital bed capacity of our health-care system, it will also provide medical students with the training they require within the SUCs where they are enrolled. Essentially, our measure envisions the establishment of teaching hospitals wherever medical degrees are being offered. That the applause from the gallery during the SONA was particularly energetic when the President spoke about bringing better health-

AIROBI, Kenya—In the shadow of a glossy, thousand-dollar campaign billboard, one of many across Kenya’s capital, street vendors struggle to make even 200 shillings ($1.68) a day and often pocket none.

of Kenya’s economy and about 70 percent of the rural workforce is in farming, while informal street vendors make up the majority of nonfarm work. “Our economic system is rigged against small people,” Ruto said in a campaign video. The video came out as a court ordered his wealthy running mate, Rigathi Gachagua, to repay to the state about $1.6 million that was determined to be the proceeds of corruption. Ruto has said he would accept the election’s outcome “whichever way it goes.” The 77-year-old Odinga, making his fifth and likely final try to win the presidency, is campaigning closely with running mate Martha Karua, a former justice minister who could become Kenya’s first female deputy president. Karua has caught the attention of women in a country that fails to meet a gender quota for elective bodies like Parliament and where female candidates commonly face harassment. Odinga, famous for being jailed while fighting for multi-party democracy decades ago, has promised cash handouts to Kenya’s poorest while saying “the middle class, of course, know how to look after themselves.” He has said he’ll accept election results “as long as they’re free and fair.”

care closer to the people speaks volumes of its importance and timeliness. We are confident that through close collaboration across the different branches of government, we inch ever closer to realizing that vision. Senator Sonny Angara has been in public service for 18 years—9 years as Representative of the Lone District of Aurora, and 9 as Senator. He has authored and sponsored more than 250 laws. He is currently serving his second term in the Senate. E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

A16 Friday, August 5, 2022

House leader pitches tariff cuts on fertilizers, farm gear

By Jovee Marie N. dela Cruz

@joveemarie

O boost domestic farmers, the chairman of the House Committee on Ways and Means on Thursday proposed to the economic managers the reduction to zero of tariffs on fertilizers, machineries, and farm equipment; and the increase of tariffs—by 5 percent for the next 18 months—on imported agricultural products that have not exceeded their bound rate yet. This, Albay Rep. Joey Sarte Salceda said, will help address productivity and competitiveness issues in the domestic sector. “In a [Thursday] meeting [with the economic managers], I proposed reducing tariffs on equipment, fertilizers, and farm machineries to zero, and to increase the tariffs on imported agricultural products such as meat, chicken, and vegetables by 5 percent outside our free trade partners, as long as they have not exceeded their bound rates,” he said in a statement. Leaders of the House, including Salceda, Speaker Martin Romualdez, Appropriations Committee chairman Zaldy Co and senior vice chairperson Stella Luz Quimbo,

Deputy Speaker Ralph Recto, Majority Leader Manuel Dalipe, met with Finance Secretary Benjamin Diokno, National Economic and Development Authority (NEDA) Director-General Arsenio Balisacan, and Budget and Management Secretary Amenah Pangandaman to discuss the proposed 2023 national budget and other priority bills. “According to the International Trade Association, the Philippine average applied tariff rate for those under the Most Favored Nation (MFN) regime is 9.8 percent for agricultural products. The average bound rate, or the highest tariff rate we can apply, for agricultural products under MFN is 35 percent.

So, there is plenty of room for adjustment,” Salceda said. “The differentials in prices between imported and domestic agri products are also large enough to be able to absorb the higher tariffs on imports. The landed cost of imported pork, for example, should be P265 per kilo, and domestic pork is sold at around P355 per kilo,” he added. Salceda said zero tariffs on inputs and slightly higher tariffs on agricultural output will allow Philippine farmers to “benefit from trade in inputs, while also getting higher direct support from tariff revenues.” “The problem of the domestic sector is really input costs. Fertilizers are especially problematic, as fertilizers are 85 percent higher than last year’s prices. We impose 1 percent to 3 percent tariffs on fertilizers,” he added Executive Order No. 133 already exempts agricultural enterprises from tariffs on their imported machineries and equipment, but small farm holders do not have the capacity to import products directly, and instead buy from domestic dealers who have to pay import duties and pass them on, according to Salceda. “This is also in parallel with my bill to allocate tariffs on agricultur-

al products to the domestic sector, or House Bill No. 2471,” he said. Salceda was referencing his Universal Tariffs for Domestic Competitiveness Act, which, if enacted, would allocate tariff revenues of all imports of raw agricultural products to funding for support for domestic sector counterparts. “So, we should tackle them side by side. Sen. Imee [Marcos] already asked me about the bill.” “The revenues from agri products should go to the nearest substitutable equivalent of the import, in other words, the sector that is hurting. For imported pork, it’s domestic swine producers. For industries without an exact domestic equivalent, such as, say, palm oil, we can provide assistance to the coconut sector,” he said. Earlier, Philippine Chamber of Agriculture and Food Inc. proposed that the government earmark all tariff collections from imported commodities to develop domestic agricultural industries. “This is in line with President Marcos’s objective of expanding domestic sector productivity to bolster our food security. He’s right. Especially given climate issues, if the world stops selling to us, and we don’t have a strong domestic agri sector, we’re done for,” Salceda added.

OECD-FAO: PHL SUGAR IMPORTS IN NEXT 9 YRS MAY BE NECESSARY

HE Philippines may have to import an average of 282,670 metric tons (MT) of sugar annually in the next decade to meet growing demand for the sweetener as local production stagnates, based on international projections. Joint projections by the Organisation for Economic Cooperation and Development (OECD) and the United Nations’ Food and Agriculture Organization (FAO) showed that the Philippines will continuously import sugar from 2023 until 2031 to boost its domestic supply. The OECD-FAO said the Philippines will import sugar from a low of 231,180 MT to as much as 320,340 MT in the next 9 years. The Philippines has been importing sugar for domestic consumption for the past five consecutive years. Erratic domestic sugar production has forced the government to implement sugar import programs to ensure sufficient supply and avert price increases. This year alone, the Philippines could be implementing two sugar import programs to boost supply and temper skyrocketing prices that hit P115 per kilogram.

Asean foreign chiefs: Taiwan Strait at risk of ‘miscalculation’ By Malou Talosig-Bartolome @maloutalosig

OREIGN ministers of the Association of Southeast Asian Nations (Asean) are wary that the tension in the Taiwan Strait following the controversial visit of US House Speaker Nancy Pelosi to Taiwan would lead to “miscalculation” and “open conflict.” The ministers are meeting in Phnom Penh at the time when tension in the Taiwan Strait is at its highest level in 20 years, with the visit by the US congressional delegation led by Pelosi to the self-ruled island. Pelosi is the most senior American lawmaker to visit the island in 25 years. In a joint statement entitled, “Asean Foreign Ministers’ Statement on the Cross Strait Development,” the ministers said they are “concerned with the international and regional volatility, especially in the recent development in the area adjacent with the Asean region.” They said the Taiwan Strait standoff “could destabilize the region and eventually lead to miscalculation, serious confrontation, open conflicts and unpredictable consequences among major powers.” The day after Pelosi arrived in Taipei, China conducted live-fire exercises in the sea and airspace around Taiwan. The defense department of Taiwan said China has encroached on its territory, as close as 12 nautical miles from the island. The statement made no specific mention of Pelosi, China or the United States, but was obviously referring to the two superpowers when it called for “maximum restraint,” and to “refrain from provocative action and to [uphold] the principles enshrined in United Nations Charter and the Treaty of Amity and Cooperation in Southeast Asia (TAC).”

Manila’s statement

The Philippines, which is the closest Asean country to the Taiwan Strait, also issued a short statement that neither condemned Pelosi for the visit, nor Beijing, for holding military exercises that observers say is almost akin to a naval and air blockade of the island. “The Philippine is concerned with the rising tensions in Taiwan Strait, just north of the Philippines,” the Department of Foreign Affairs said. “The Philippines urges retraint by all parties concerned. Diplomacy and dialogue must prevail,” it added. The Philippines reiterated its support for the One-China Policy— which China has been espousing in the international community, to ward off attempts by its “renegade province” Taiwan’s independence bid. The other Asean foreign ministers likewise issued a reiteration of the One-China Policy.

ASEAN ministers

“THE world is in dire need of wisdom and responsibility of all leaders to uphold multilateralism and partnership, cooperation, peaceful-coexistence and healthy competition for our shared goals of peace, stability, security and inclusive and sustainable development,” read the draft statement of the Asean foreign ministers. “We should ACT TOGETHER (caps lock provided) and ASEAN stands ready to play a constructive role in facilitating peaceful dialogue between all parties including through utilizing Asean-led mechanisms to deescalate tension, to safeguard peace, security and development in our region,” it added. Chinese State Councilor and Foreign Minister Wang Yi and US State Secretary Antony Blinken are also in Phnom Penh to attend the Asean Regional Forum (ARF) and other related meetings Thursday.

In February, the Sugar Regulatory Administration (SRA) approveda200,000-MTrefinedsugar importationprogramforindustrial users and beverage makers. The BusinessMirror recently broke the story that the SRA is looking at 300,000-MT additional sugar imports to ensure adequate supply until the next milling season peaks. (Related story: https://businessmirror.com.ph/2022/08/03/phleyes-300k-mt-sugarimportsas-yields-plunge/)

Production stagnates

THE OECD-FAO projected that the Philippines’s sugar production from 2023 to 2031 would average at 2.213 million MT with sugarcane output averaging at 20.463 million MT during the 9-year period. The OECD-FAO also estimated that the average sugarcane area harvested in the Philippines in the next 9 years would be at 375,668 hectares with an average yield of 54.46 MT per hectare. The Philippines’s sugar production in crop year 2021-2022 plunged by 16 percent year-onyear to 1.8 million MT, its lowest level in 22 years. Continued on A4

DepEd: ₧4.5-B ‘deficiencies’ cited by COA were explained

HE Department of Education (DepEd) on Thursday said it has already replied to the Commission on Audit (COA), which flagged “deficiencies” in the utilization of funds amounting to P4.527 billion for the implementation of the distance learning program, for school years 2020-2021 and 2021-2022. In a press briefing, DepEd spokesperson Atty. Michael Poa said there was a delay encountered during the procurement “due to the surges (in Covid-19 cases) last year.” Poa said, “We will look into it first but right now, what we are doing is, these are AOMs (Audit Observation Memorandum), these are just findings. They are not conclusive. So what the DepEd is doing, we are responding to whatever COA wants us to respond on.” Whatever is the final determination of COA, Poa said, “we would always correct and cooperate with COA for the improvement of our processes here in DepEd.” Likewise, based on the annual audit report of COA, DepEd purchased expensive laptops for 2021 which are “outdated and pricey.” T he united were purchased through the Procurement Service of the Department of Budget and Management (DBM-PS), and auditors said fewer units were bought with the fund allocation because the laptops were “pricey,” depriving 28,917 teachers of the benefit. Poa said that they are aware that some time in March 22, the DepEd was in receipt such audit observation.”What I know is we have already submitted the documentary requirements . . .We’re just waiting for feedback from COA.” The Audit Team could not ascertain the basis of DBM-PS for adopting the unit price of P58,300. “Apparently, the supposed number of laptops to be procured of 68,500 units was significantly reduced to 39,583 units which was mainly due to the huge increase of estimated cost from P35,046 to P58,300 anchored on the DBM-PS’ recommendation, which was duly accepted by the DepEd,” the COA stated. Claudeth Mocon-Ciriaco

Companies BusinessMirror

Editor: Jennifer A. Ng

Friday, August 5, 2022 B1

Forex losses, CREATE law pull down SMC’s H1 income

By VG Cabuag

@villygc

onglomerate San Miguel Corp. (SMC) said its income in the first half slid 33 percent to P19.8 billion from last year’s P29.57 billion, partly as a result of the effects of foreign exchange (forex) losses and the CREATE law. Recur r ing income, which excludes forex losses and the CREATE Law or the Corporate Recovery and Tax Incentives for Enterprises Act, rose 24 percent to P32.48 billion from last year’s P26.09 billion. Consolidated sales revenue rose 73 percent to P711.4 billion from the previous P410.12 billion on sustained volume growth and better selling prices. The company’s operating in-

come grew 41 percent to P85.85 billion from last year’s P61.01 billion mainly due to the improved performance of its fuel and oil subsidiary Petron Corp. and sustained recoveries of its food, beverage, packaging and infrastructure businesses. “Overall, it’s been a very challenging period, with geopolitical conflict resulting in uncertainties and serious supply and costs issues that are affecting indus-

tries all over the world. Despite this, and even with the lingering effects of the pandemic, we’re encouraged by the strong and increasing demand for our products and services, as evidenced by our higher volumes and revenues in the first half,” said San Miguel President and CEO Ramon S. Ang. “This shows that our country’s economic recovery and growth are gaining pace. We will maximize every opportunity to further strengthen our performance in the second half.” San Miguel Food and Beverage Inc.’s income rose 12 percent to P10.65 billion from last year’s P9.5 billion, driven by volume growth and better selling prices across the Beer, Spirits, and Food divisions. Meanwhile, the off-take volumes for SMC Global Power Holdings Corp. reached 14,336 gigawatt hour during the period, up 6 percent from last year. Consolid ated revenues reached P102.6 billion, a 70-per-

cent increase from the previous P60.27 billion driven by improvements in Meralco nominations and higher demand from distribution utilities and contestable customers and the commencement of its 20MW Kabankalan battery energy storage system’s commercial operations. Operating income, however, declined by 26 percent to P12.76 billion from last year’s P17.15 billion due to the unprecedented increase in fuel input costs and the deration of the Ilijan gas plant due to Malampaya gas field supply issues. Petron’s income doubled to P7.7 billion from last year’s P3.87 billion as consolidated volumes from its Philippine and Malaysia operations grew 34 percent to 51.4 million barrels on the back of demand recovery due to sustained easing of travel restrictions and the improved pandemic situation. Meanwhile, revenues of the company’s infrastructure arm grew 58 percent to P13.4 for the period from the previous P8.48 billion. Operating income more than doubled to P6 billion from the previous P2.31 billion on higher traffic volume.

PLDT may raise capex for 2022 By Lorenz S. Marasigan @lorenzmarasigan

LDT Inc. “might” increase its capital expenditures (capex) program by as much as P3 billion to P88 billion for 2022, no thanks to the prevailing “tough and challenging” economic conditions in the Philippines. During the company’s press briefing for its first half financial results, PLDT Chairman Manuel V. Pangilinan said there is a “risk that we might exceed the P85-billion” capex program for the year due to the impact of foreign exchange. Almost half or 45 percent of the telco titan’s capex is foreign spend. The Philippine peso closed at P55.67 against the greenback on Thursday, 11 percent higher than the close the year prior. When asked how much the additional capex spend will be, Pangilinan replied: “Probably, P2 billion to P3 billion.” “Remember we’ve already committed to spend about half of our capex for the first half. So about half of the P85 billion or so are at risk.” He noted, however, that the foreign exchange risk also has a benefit for the company’s foreign operations, which generates about $600 million in interna-

tional revenues. Its impact on the profit and loss charts, then, is “more beneficial to PLDT,” Pangilinan said. “Taken in the round, it’s probably more beneficial. We do have enough cash from operations to be able to fund the entire capex.”

Stronger headwinds

PLDT President Alfredo S. Panlilio also characterized the year 2022, both for the first half and forecasting for the second half, as “challenging.” Aside from the lingering effects of the pandemic, the industry, he said, is battling it out for a share in the customers’ wallets. “Economic situations are tough; we are seeing the effect on the wallets,” Panlilio said. In fact, PLDT SVP Francis Flores said, the rising inflation numbers have caused Filipinos to “economize” with consumers “stretching their load, trying to cut down on non-essential telco use.” Nevertheless, PLDT is confident that it will meet its income guidance of P33 billion by the end of the year. PLDT recorded P16.7 billion in net profits in the first half, a 30-percent surge from P12.9 billion the year prior, padded by the sale of its tower assets during the said period.

Its telco core income, which also excludes the impact of innovations arm Voyager, also rose by 12 percent to P17 billion from P15.2 billion last year. Consolidated service revenues reached an all-time high of P94.3 billion, a 5-percent growth from P89.9 billion the previous year, driven largely by its data and broadband businesses. Data and broadband, which now account for 79 percent of the consolidated service revenues, grew by 10 percent to P74.9 billion. The wireless business contributed P35.7 billion in revenues, while home, P24.6 billion, corporate, P11.9 billion, and ICT, P2.6 billion. Expenses were f lattish at P43.8 billion. “We expect stronger headwinds in the second half, with higher inflation impacting our customers’ pockets as well as our own operating costs. With so much pressure on growth, it is imperative that we stay focused on our strategic initiatives and managing costs,” Pangilinan said. “As to full year profit guidance, we maintain telco core income at P33 billion, albeit some upside may be possible as portions of proceeds from the towers sale are used to pay down debts in the second half.”

Pryce income dips in Jan-June By Lenie Lectura @llectura

ISTED Pryce Corp. posted a lower net income of P708.79 million at end-June this year from P745.92 million in the same period a year ago. The 4.98-percent decline was mainly brought about by an increase in operating expenses. It reported Thursday that operating expenses rose by 16.84 percent to P1 billion due to inflation and fuel price hikes, thereby causing increases in the costs of transport, wages, services, logistics, and supplies. It added that the opening of new sales centers and refilling plants further increased expenses. Further, other income also declined. “All these contributed

to the 4.89 percent fall in net income.” The company completed last December a new import marine terminal in Lugait, Misamis Oriental. It has a storage capacity of 4,000 metric tons (MT), the biggest in Mindanao. Pryce Corp. is expected to complete another marine terminal by the end of this year in Lila, Bohol. By then, Pryce Corp. would have a total of 10 import marine terminals, bringing its overall storage capacity of all marine terminals to 38,840 MT. Last year, the company built three refilling plants and 178 new sales centers. Pryce said it booked a 39.17-percent increase in revenues to P9.91 billion from January to June compared to the same period last year.

“The increase in consolidated revenues is primarily explained by the increase in average international LPG contract prices and secondarily by the growth in sales volume of LPG,” it said. The company said the average contract price, which directly influences local LPG prices, rose by 51.6 percent from the previous semester’s $546.25 per MT to this year’s $827.92 per MT. The increase in contract price is due to the disruption of the oil supply chain, brought about by the Russia-Ukraine war. Sales volume of LPG grew by 12.3 percent to 141,214 MT from the previous year’s 125,776 MT. The increase largely occurred in Luzon where margins are lower compared to that in Visayas and Mindanao.

FLI home, condo sales rise in H1 F

ilinvest Land Inc. (FLI), the Gotianun-led property developer, said sales of its housing and condominium units rose 30 percent in the first half, with total option sales reaching P9.1 billion. “We are happy to see our sales volume increase to pre-pandemic (levels) and, happier to see sales growth recorded in almost all the provinces where we operate. We have invested to build bigger distribution channels both locally and abroad to reach more customers and support our expansion activities, and it is paying dividends for us,” FLI President Tristan Las Marias said. For the first half, the company said it recorded a 7-percent growth in its consolidated revenues and other income to P9.1 billion from last year’s P8.31 billion. The first semester’s revenue, however, was still lower than the P9.3 billion the company posted in 2020. FLI said its residential revenues grew by 10 percent to P5.8 billion, while its retail rental revenues grew 53 percent from last year. Residential and retail rental revenues contributed 72 percent of the company’s revenues, while office leasing and sale of industrial projects contributed the remaining 28 percent. The company has not yet disclosed its income figures, only say-

ing that its consolidated earnings before interest and taxes also grew by 5 percent from the previous year. FLI said the growth in residential revenues was due to accelerated construction progress and strong performance of its housing projects in Cavite, Laguna, and Rizal and medium-rise condo projects in Metro Manila and Davao. Meanwhile, the company attributed the increase in its retail rental revenues to the improvement in its malls’ occupancy and the removal of rental concessions. Filinvest Land said it has launched new condominium projects in Dagupan City, Zamboanga City, and new condo buildings in existing condo communities in Davao City, Cagayan De Oro, Cebu City and Metro Manila. It also opened expansion phases in its housing and subdivision projects in Pampanga, Rizal and Cavite. FLI said it will roll out some P14 billion in new launches and expansion projects for the rest of the year. “Our economy is vibrant once again and our OFW remittance has never been stronger. We are seeing strong recovery from all our business segments, and we aim to take advantage of our extensive geographic presence to catch unserved and emerging property demands as businesses further open in the country,” Las Marias said. VG Cabuag

Friday, August 5, 2022

Companies BusinessMirror

IFC invests in local towers firm to bridge digital divide By Cai U. Ordinario

@caiordinario

he International Finance Corp. (IFC), the private-sector lending arm of the World Bank Group, has extended a loan that aims to help improve mobile connectivity in the Philippines. The loan is part of the $70 -mi l lion f inancing package arranged by IFC for Communication and Renewable Energy Infrastructure (CREI) Phils. Inc. The financing package, which aims to bridge the digital divide through shared mobile infrastructure, includes a $25.5-million loan from IFC and a parallel facility of $44.5 million. “Digital connectivity is more important than ever

for businesses and people to thrive,” said Jean-Marc Arbogast, IFC Country Manager for the Philippines. “By supporting the entry of a new company, IFC’s investment will contribute to a strong independent tower market in the Philippines, increasing competition, creating jobs, spurring economic growth and help cut emissions.” IFC’s investment will allow CREI Phils., a new tower company in the Philippines, to fund the construction of over 600 new towers by next year. For the first time in the country, these towers will be shared under an open-access basis. Aside from creating a competitive market for tower collocations, the loan will help increase mobile network capacity, allowing

Globe, Eastern to build $150-M cable network By Lorenz S. Marasigan @lorenzmarasigan

lobe Telecom Inc. said on Thursday it has partnered with ICT solutions provider Eastern Communications and digital solutions provider InfiniVAN to build the $150-million Philippine Domestic Subm a r ine C able Net work (PDSCN). The domestic fiber network aims to improve both mobi le a nd broadba nd connectivity and fiberize previously unserved areas across the country’s three main island groups, according to Globe. “We are doing this so that our customers will get equitable access to connec-

tivity, wherever they may be in the country,” Globe Business VP Arlene Jallorina said. PDSCN has a total cable distance of roughly 2,500 kilometers or about the same distance between Manila and Singapore. It will be landing at several points across the country, including Sorsogon, Masbate, Marinduque, Camiguin, Siargao, Boracay, and Zamboanga, for undersea laying in 24 segments over the next nine months. Globe claimed that once completed, this will be the “country’s longest submarine fiber cable network.” Segments for the submarine cable network are expected to be completed by April 2023, and fiber connections will be activated thereafter. “Providing equitable access to mobile and internet connection in all parts of the country has been our dream, and through this cooperation, we are finally at the cusp of realizing this goal,” Eastern Communications Co-coordinator Vince Tempongko said. In February, Globe announced that it alloted P89 billion for its capital expenditures (capex) program this year. The amount—just 4 percent lower than the P92.8-billion capex spend in 2021, an all time high for Globe—will be used to build more cell sites, upgrade existing ones, deploy 4G and 5G radios, and add more fiber lines across the country, the company said. Last year, Globe aggressively expanded its fixed line and wireless networks, building 1,407 new cell sites, upgraded over 22,300 mobile sites, installed more than 2,000 5G radios, and installed 1.4 million fiber-to-the-home lines.

operators to expand high-speed mobile networks (4G and 5G) across the country and offer better services at affordable rates. According to the 2020 Global Digital Overview, the number of internet users in the Philippines has more than tripled to 73 million in 2020, from 23 million in 2010. However, the country ranks 95th out of 142 countries for mobile internet download speed. IFC said the number of mobile subscribers per tower, a measure of network congestion, is more than double the regional average. According to market estimates, to fill the gap, the Philippines would need a significant number of new towers built in the next seven to eight years to support the government’s network capacity requirements. “Despite the challenging market conditions triggered by the pandemic, IFC’s long-term funding will allow us to meet our ambitions of expanding our digital infrastruc-

ture portfolio in the Philippines,” Kadri Hakim, CEO of CREI, said. “Our management team’s extensive knowhow gained through 15 years of telecoms operations across South-East Asia and Africa combined with IFC’s deep knowledge of the country’s telecoms regulatory regime and its experience as an investor in tower companies, will enable us to effectively develop and grow our operations in the country.” The company’s entry into the Philippine telecoms market brings robust expertise in the design, construction, and operation of towers, as well as the provision of efficient energy solutions that help displace and reduce the use of diesel fuel on towers connected to the grid. In line with the nation’s climate goals, this project will lead to significant greenhouse-gas savings. IFC will also assist the company align its environmental and social practices with IFC’s performance standards.

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

August 4, 2022

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

BDO UNIBANK 118 118.7 117 118.7 116.5 118.7 1,985,190 234,168,035 46,319,318 BANK COMMERCE 8.2 8.34 8.1 8.36 8.1 8.2 22,200 181,900 BANK PH ISLANDS 93 94 93 94 92.1 94 1,541,930 144,093,066.5 4,557,429 27.55 27.75 27.75 27.75 27.5 27.55 97,000 2,686,335 1,304,250 CHINABANK 6.8 6.81 6.86 6.86 6.75 6.81 199,600 1,359,034 (1,112,517) EAST WEST BANK METROBANK 49 49.15 49.35 49.5 48.65 49 983,300 48,204,855 6,557,940 PB BANK 6.35 7.1 6.41 6.41 6.35 6.4 261,800 1,675,530 (1,535,900) 15.3 16.2 16.2 16.2 16.2 16.2 200 3,240 PBCOM PHIL NATL BANK 17.5 17.74 17.7 17.76 17.7 17.7 36,000 638,384 88,600 PSBANK 55.35 57 57.5 57.5 55.3 57 110 6,263 RCBC 19.6 19.96 19.6 19.6 19.6 19.6 5,500 107,800 (98,000) SECURITY BANK 82.1 82.5 82.5 83.8 81.25 82.1 4,883,460 401,847,885.5 (53,815,557) 75.5 76 76.95 76.95 75.4 76 54,950 4,173,362 2,541,260.5 UNION BANK 1.72 1.77 1.79 1.79 1.79 1.79 3,000 5,370 BRIGHT KINDLE FIRST ABACUS 0.62 0.68 0.68 0.68 0.68 0.68 1,000 680 IREMIT 0.71 0.75 0.75 0.75 0.75 0.75 14,000 10,500 7,500 925 940 925 925 925 925 60 55,500 55,500 MANULIFE 166.1 167 169 169 166 166.2 2,650 442,005 PHIL STOCK EXCH (383,055) INDUSTRIAL ACEN CORP 8.65 8.71 8.64 8.71 8.58 8.71 17,363,000 150,513,647 64,389,563 ALSONS CONS 0.95 0.96 0.95 0.96 0.95 0.95 181,000 171,960 32.3 32.5 32.15 32.65 32.15 32.4 964,400 31,239,165 15,332,110 ABOITIZ POWER 1.79 1.8 1.8 1.8 1.78 1.8 595,000 1,067,230 (9,000) RASLAG BASIC ENERGY 0.41 0.415 0.415 0.42 0.415 0.415 5,160,000 2,146,100 FIRST GEN 17.22 17.46 17.64 17.64 17.2 17.22 168,700 2,916,226(1, 423,492.0002) 63.25 64 64 64 63.2 64 35,130 2,248,251 (861,371) FIRST PHIL HLDG 316.6 316.8 313.4 318.2 310.2 316.6 763,390 240,217,490 (99,900,170) MERALCO MANILA WATER 14.48 14.5 14.9 14.9 14.32 14.5 1,206,200 17,470,500 (12,883,208) PETRON 2.9 2.91 2.94 2.95 2.9 2.9 652,000 1,897,370 (781,230) PETROENERGY 4.77 4.94 4.92 4.92 4.92 4.92 9,000 44,280 9.13 9.75 9.13 9.75 9.13 9.75 26,100 253,537 PHX PETROLEUM SYNERGY GRID 12.3 12.32 12.28 12.32 12.26 12.32 492,700 6,062,996 2,353,790 PILIPINAS SHELL 17.7 17.88 18 18 17.7 17.88 4,500 80,090 SPC POWER 10.48 10.5 10.24 10.5 10.24 10.48 42,100 437,194 1.6 1.61 1.61 1.62 1.59 1.61 19,743,000 31,685,630 28,940 SOLAR PH 15.82 17.98 15.7 15.7 15.7 15.7 100 1,570 VIVANT AGRINURTURE 5.59 5.6 5.31 5.61 5.15 5.6 280,200 1,495,330 715,214 AXELUM 2.5 2.54 2.5 2.6 2.48 2.5 390,000 975,370 (335,010) CENTURY FOOD 25.35 25.45 24.05 26 24.05 25.45 2,089,900 52,966,545 (822,645) 13.56 14.06 13.6 14.18 13.5 13.54 56,000 763,424 DEL MONTE DNL INDUS 7.02 7.06 7.02 7.07 6.97 7.06 1,363,800 9,582,792 (3,056,687) EMPERADOR 19.2 19.24 19.2 19.28 19.2 19.24 7,124,800 137,170,810 (5,213,434) SMC FOODANDBEV 45.35 45.5 44.1 46 44.1 45.5 323,600 14,711,760 (7,707,690) 0.67 0.68 0.69 0.69 0.67 0.67 7,040,000 4,784,520 1,097,360 FIGARO COFFEE 1.03 1.04 1.06 1.07 1.04 1.04 1,229,000 1,290,610 FRUITAS HLDG GINEBRA 101 102.1 99 102.8 99 101 19,170 1,942,367 (436,203) JOLLIBEE 212 212.4 210 212.8 207.8 212.4 290,990 61,631,042 478,520 KEEPERS HLDG 1.18 1.19 1.17 1.19 1.17 1.19 918,000 1,080,070 448,110 17.3 18.8 17.3 17.3 17.3 17.3 400 6,920 LIBERTY FLOUR MAXS GROUP 4.5 4.6 4.5 4.5 4.5 4.5 13,000 58,500 MG HLDG 0.102 0.107 0.108 0.108 0.102 0.102 60,000 6,360 MONDE NISSIN 15.48 15.5 15.1 15.5 14.98 15.5 5,133,200 79,031,478 39,631,138 0.61 0.62 0.59 0.62 0.59 0.62 3,487,000 2,095,360 37,210 ROXAS AND CO 3.86 3.9 3.85 3.85 3.85 3.85 10,000 38,500 7,700 RFM CORP SWIFT FOODS 0.086 0.088 0.086 0.086 0.085 0.085 500,000 42,860 UNIV ROBINA 124.2 124.7 124.5 125.6 121.7 124.7 2,270,460 281,987,458 88,896,360 0.6 0.61 0.6 0.6 0.6 0.6 141,000 84,600 VITARICH CONCRETE A 42.2 47 43.5 47 43.5 47 3,000 140,615 CONCRETE B 45 59.7 63.9 64.95 62 62 100,030 6,496,898 CEMEX HLDG 0.67 0.69 0.7 0.7 0.67 0.67 2,136,000 1,450,040 (82,490) EAGLE CEMENT 14 14.3 13.86 14.48 13.6 14.3 285,400 4,005,960 (70,000) 3.44 3.48 3.3 3.49 3.3 3.49 84,000 286,330 EEI CORP HOLCIM 4.48 4.5 4.51 4.6 4.5 4.5 290,000 1,306,720 32,199.9999 MEGAWIDE 4.34 4.36 4.22 4.34 4.17 4.34 278,000 1,193,930 PHINMA 19.18 19.26 19.4 19.4 19.18 19.2 685,000 13,265,200 0.64 0.69 0.69 0.69 0.69 0.69 7,000 4,830 TKC METALS VULCAN INDL 0.86 0.88 0.85 0.89 0.83 0.88 3,204,000 2,736,730 CROWN ASIA 1.4 1.43 1.4 1.42 1.4 1.4 210,000 294,040 PRYCE CORP 5.3 5.47 5.28 5.3 5.28 5.3 2,100 11,128 GREENERGY 1.69 1.7 1.68 1.72 1.67 1.7 4,129,000 6,943,140 7.12 7.15 7.24 7.26 7.1 7.12 280,500 2,005,749 (1,152,025) INTEGRATED MICR 0.67 0.69 0.68 0.7 0.66 0.69 157,000 107,430 IONICS PANASONIC 5.53 5.76 5.76 5.76 5.76 5.76 1,200 6,912 SFA SEMICON 1.46 1.49 1.58 1.59 1.41 1.46 2,858,000 4,306,480 74,550 3.15 3.16 3.19 3.21 3.13 3.16 1,914,000 6,071,420 15,800 CIRTEK HLDG

HOLDING & FRIMS

mutual funds

August 4, 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 203.58 -3.63% -8.86% -5.69% -12.66% ATRAM Alpha Opportunity Fund, Inc. -a 1.3249 -3.35% -7.03% -3.65% -20.39% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8168 -3.22% -12.26% -8.15% -13% Climbs Share Capital Equity Investment Fund Corp. -a 0.6988 -5.32% -10.32% -7.05% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6705 -7.17% -9.09% n.a. First Metro Save and Learn Equity Fund,Inc. -a 4.6229 -0.61% -5.96% -3.83% -10.8% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6902 -0.92% -8.26% -6.43% MBG Equity Investment Fund, Inc. -a 77.17 -19.87% -13.87% n.a. -18.28% PAMI Equity Index Fund, Inc. -a 42.4017 -1.71% -7.37% -4.05% -11.9% Philam Strategic Growth Fund, Inc. -a 436.01 -4.03% -7.85% -4.44% -12.92% Philequity Dividend Yield Fund, Inc. -a 1.2063 8.71% -3.74% -1.63% -11.06% Philequity Fund, Inc. -a 32.2445 -0.77% -6.65% -3.2% -11.89% Philequity MSCI Philippine Index Fund, Inc. -a 0.8364 -0.62% -7.73% n.a. -11.15% Philequity PSE Index Fund Inc. -a 4.3916 -0.75% -6.75% -3.4% -11.47% Philippine Stock Index Fund Corp. -a 731.99 -1.16% -6.8% -11.65% -3.47% Soldivo Strategic Growth Fund, Inc. -a 0.6438 -4.92% -12.15% -6.55% -14.46% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.263 -3.87% -9.75% -5.12% -13.57% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8331 -1.47% -7.09% -3.73% United Fund, Inc. -a 3.0457 -1.48% -7.18% -2.99% -11.39% Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a 1.0121 -3.52% n.a. n.a. -12.95% Philippine Stock Index Fund Corp. -a 890.91 n.a. n.a. n.a. n.a. Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 98.6405 -0.78% -6.6% -3.1% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.9013 -24.61% -2.42% -2.77% -19.99% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5042 -17.32% 4.56% 4.86% -18.53% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.5774 -4.1% -3.66% -2.33% -6.77% ATRAM Philippine Balanced Fund, Inc. -a 2.1421 -0.6% -3.11% -1.97% -6.11% First Metro Save and Learn Balanced Fund Inc. -a 2.5131 -0.21% -2.35% -1.09% -6.61% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1947 4.79% n.a. n.a. NCM Mutual Fund of the Phils., Inc. -a 1.8841 -1.27% -1.45% -0.22% -6.58% PAMI Horizon Fund, Inc. -a 3.4163 -4.87% -3.76% -1.79% -9.26% Philam Fund, Inc. -a 15.0908 -6.17% -4.3% -2.15% -10.42% Solidaritas Fund, Inc. -a 1.9577 -2.48% -3.52% -1.83% -7.72% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2984 -3.86% -5.93% -2.76% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8694 2.43% -5.01% -2.06% -8.89% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9195 -4.78% -3.94% n.a. -7.1% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8287 -5.12% -7.08% n.a. -12.26% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8164 -4.7% -7.44% n.a. -12.58% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03449 -10.16% -2.79% -0.77% -9.09% PAMI Asia Balanced Fund, Inc. -b $0.9179 -16.71% -2.7% -1.88% -13.98% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0568 -15.16% 2.27% 3.08% -15.52% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.039 -13.92% -1.03% 0.28% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 374.91 0.46% 2.12% 2.31% 0.16% -1.35% -0.15% 0.16% 0.73% ATRAM Corporate Bond Fund, Inc. -a 1.8984 Cocolife Fixed Income Fund, Inc. -a 3.2458 0.35% 2.02% 3.29% 0.06% Ekklesia Mutual Fund Inc. -a 2.1928 -3.4% -0.15% 0.8% -2.61% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4102 -1.45% 1.08% 1.74% Philam Bond Fund, Inc. -a 4.2093 -6.42% -0.38% 0.62% -4.24% Philam Managed Income Fund, Inc. -a 1.3129 -0.52% 2.23% 2.66% -0.47% Philequity Peso Bond Fund, Inc. -a 3.917 -1.63% 1.82% 2.42% -1.23% Soldivo Bond Fund, Inc. -a 1.018 -2.09% 2.43% 1.85% -0.99% 1.65% 2.74% -1% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1556 -2.05% Sun Life Prosperity GS Fund, Inc. -a 1.7066 -2.72% 0.8% 2.06% -1.39% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $482.36 -1.01% 1.57% 1.73% -1.47% ALFM Euro Bond Fund, Inc. -a Є211.46 -4.04% -1.17% -0.07% -3.89% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1029 -8.26% -2.46% -0.44% -8.39% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0243 -6.9% -1.72% -0.49% PAMI Global Bond Fund, Inc -b $0.9253 -12.09% -5.26% -3.01% -9.53% Philam Dollar Bond Fund, Inc. -a $2.2643 -10.17% -1.3% 0.27% -9.63% Philequity Dollar Income Fund Inc. -a $0.060476 -4.08% 0.57% 1.09% -2.92% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.8628 -10.43% -2.56% -1.04% -10.43% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 132.4 1.53% 2.18% 2.54% 0.92% First Metro Save and Learn Money Market Fund, Inc. -a 1.0649 1.04% 1.53% n.a. Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3279 1.59% 2.06% 2.46% 0.93% Primarily invested in foreign currency securities (shares) 1.11% n.a. 0.4% Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0648 0.63% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a 45.5537 n.a. n.a. n.a. n.a. Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2895 -1.8% n.a. n.a. Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a $0.8411 -15.04% n.a. n.a. -13.29%

-7.63% -13.02% -11.89%

-11.79%

-11.51%

-6.84%

-9.56%

-13.32%

-0.65%

-6.54%

0.68%

ABACORE CAPITAL 2.12 2.13 2.1 2.14 2.1 2.13 15,220,000 32,269,950 10,539,480 AYALA CORP 692 692.5 670 692.5 668.5 692.5 641,610 440,005,010 162,359,215 ABOITIZ EQUITY 58.8 59 59 59.5 58 59 2,371,660 139,808,724 44,092,702 9.61 9.62 9.61 9.71 9.6 9.62 1,924,900 18,539,878 (8,062,222) ALLIANCE GLOBAL 0.76 0.78 0.76 0.76 0.76 0.76 10,000 7,600 ANGLO PHIL HLDG ATN HLDG A 0.37 0.39 0.365 0.39 0.365 0.37 4,180,000 1,553,300 ATN HLDG B 0.385 0.435 0.4 0.4 0.385 0.395 480,000 190,100 36,000 4.29 4.3 4.3 4.3 4.29 4.3 373,000 1,603,890 (167,690) COSCO CAPITAL 9.33 9.34 9.49 9.49 9.32 9.33 1,450,900 13,566,661 (296,606) DMCI HLDG FILINVEST DEV 7 7.02 7 7 7 7 1,800 12,600 FORUM PACIFIC 0.22 0.25 0.22 0.22 0.22 0.22 50,000 11,000 (11,000) GT CAPITAL 453 458.8 452 459 451.2 458.8 158,890 72,184,878 (21,937,248) 3.34 3.54 3.42 3.42 3.42 3.42 1,000 3,420 HOUSE OF INV JG SUMMIT 54.85 55 55.45 55.45 54.7 55 1,258,160 69,206,826 42,077,508.5 LODESTAR 0.54 0.56 0.55 0.55 0.54 0.55 13,000 7,090 LT GROUP 8.52 8.62 8.71 8.78 8.52 8.52 3,514,200 30,285,056 (9,289,142) 3.63 3.67 3.68 3.68 3.62 3.63 13,183,000 47,949,330 (10,198,480) METRO PAC INV 2.04 2.05 2.1 2.1 2.04 2.04 437,000 899,210 PRIME MEDIA SOLID GROUP 0.83 0.84 0.84 0.84 0.84 0.84 11,000 9,240 8,400 SM INVESTMENTS 790 792 790.5 803 785 792 294,960 233,476,935 (94,928,815) SAN MIGUEL CORP 104.5 104.8 104.8 104.8 102.9 104.5 624,150 65,094,760 53,118,416 PROPERTY ARTHALAND CORP 0.51 0.54 0.53 0.53 0.53 0.53 78,000 41,340 ANCHOR LAND 5.6 5.61 5.61 5.61 5.61 5.61 4,000 22,440 26 26.15 26.05 26.35 25.65 26 9,020,100 234,682,125 38,420,165 AYALA LAND 3.28 3.29 3.25 3.31 3.23 3.28 596,000 1,953,320 (9,750) AYALA LAND LOG ALTUS PROP 13.46 14.38 14.38 14.38 14.36 14.36 800 11,490 ARANETA PROP 1.32 1.37 1.39 1.39 1.32 1.32 410,000 543,150 36.65 36.7 36.5 36.7 36.5 36.7 374,000 13,713,640 (1,297,395) AREIT RT 0.74 0.76 0.74 0.76 0.74 0.76 125,000 92,890 A BROWN CROWN EQUITIES 0.081 0.086 0.087 0.087 0.087 0.087 10,000 870 CEB LANDMASTERS 2.44 2.45 2.44 2.47 2.44 2.44 70,000 171,440 CENTURY PROP 0.38 0.39 0.38 0.39 0.38 0.39 150,000 58,400 2.39 2.4 2.4 2.41 2.39 2.4 7,944,000 19,082,800 994,990 CITICORE RT 7.37 7.45 7.5 7.68 7.37 7.37 390,600 2,902,447 (47,248) DOUBLEDRAGON DDMP RT 1.51 1.53 1.52 1.54 1.51 1.51 483,000 737,110 (60,670) DM WENCESLAO 6.86 6.87 6.85 6.87 6.85 6.87 20,000 137,140 0.194 0.209 0.204 0.214 0.193 0.193 450,000 90,890 EMPIRE EAST EVER GOTESCO 0.285 0.295 0.285 0.295 0.285 0.295 8,070,000 2,338,800 FILINVEST RT 6.78 6.79 6.8 6.8 6.76 6.79 61,500 417,013 (219,306) FILINVEST LAND 0.91 0.92 0.91 0.92 0.9 0.91 2,652,000 2,414,500 (954,640) GLOBAL ESTATE 0.85 0.86 0.86 0.86 0.85 0.85 3,000 2,570 9.11 9.58 9.4 9.6 9.2 9.6 37,200 347,007 8990 HLDG PHIL INFRADEV 1.03 1.04 1.04 1.04 1 1.04 536,000 545,250 25,520 CITY AND LAND 0.7 0.72 0.75 0.75 0.72 0.72 6,000 4,390 MEGAWORLD 2.34 2.35 2.36 2.39 2.33 2.34 6,830,000 16,023,040 (91,240) 0.179 0.18 0.179 0.18 0.179 0.18 770,000 138,200 MRC ALLIED MREIT RT 15.84 15.86 15.86 15.98 15.76 15.84 808,800 12,844,562 (6,846,236) PHIL ESTATES 0.375 0.38 0.38 0.38 0.38 0.38 70,000 26,600 PRIMEX CORP 2.27 2.28 2.23 2.28 2.22 2.28 1,084,000 2,450,200 8,880 RL COMM RT 6.38 6.39 6.39 6.45 6.38 6.38 1,090,800 6,981,263 (3,341,514) 17.62 17.9 17.62 17.9 17.5 17.9 541,000 9,655,368 989,654 ROBINSONS LAND 0.212 0.229 0.212 0.229 0.212 0.229 200,000 43,250 PHIL REALTY ROCKWELL 1.25 1.29 1.25 1.31 1.25 1.25 63,000 79,550 11,250 SHANG PROP 2.56 2.6 2.6 2.6 2.6 2.6 1,000 2,600 2.99 3.02 2.76 3.02 2.76 3.02 19,000 57,020 STA LUCIA LAND SM PRIME HLDG 37.2 37.5 37.2 37.5 36.75 37.5 6,978,200 260,165,130 38,982,175 VISTAMALLS 3.25 3.32 3.25 3.25 3.25 3.25 19,000 61,750 VISTA LAND 1.94 1.96 1.96 1.98 1.94 1.94 1,056,000 2,057,710 (1,081,580) 1.74 1.75 1.74 1.75 1.74 1.75 80,000 139,810 VISTAREIT RT SERVICES ABS CBN 9.25 9.35 9.23 9.45 9.23 9.35 26,300 245,528 GMA NETWORK 10.66 10.68 10.38 10.68 10.38 10.68 284,700 3,005,492 6.55 8.49 6.31 6.31 6.31 6.31 100 631 MLA BRDCASTING GLOBE TELECOM 2,058 2,060 2070 2,080 2,040 2,060 47,875 98,772,500 (25,103,500) PLDT 1,755 1,760 1705 1,762 1,685 1,760 158,875 277,526,260 (27,958,725) APOLLO GLOBAL 0.034 0.035 0.035 0.036 0.034 0.035 179,300,000 6,279,000 19.92 19.94 20.2 20.25 19.78 19.94 6,713,400 133,766,715 6,541,578 CONVERGE 3.3 3.34 3.33 3.39 3.3 3.3 339,000 1,124,100 36,300 DFNN INC DITO CME HLDG 3.77 3.8 3.8 3.83 3.77 3.77 1,453,000 5,522,150 (535,240) NOW CORP 1.15 1.16 1.2 1.2 1.14 1.16 762,000 881,450 TRANSPACIFIC BR 0.27 0.275 0.27 0.28 0.27 0.27 1,380,000 378,950 277,250 6.26 6.5 6.5 6.5 6.5 6.5 5,300 34,450 (30,550) 2GO GROUP 13.56 13.92 13.56 13.56 13.56 13.56 3,000 40,680 ASIAN TERMINALS CHELSEA 1.18 1.19 1.18 1.19 1.15 1.19 95,000 111,510 (34,500) CEBU AIR 41.6 41.7 41.45 41.8 41.45 41.7 22,600 942,400 (41,700) 186 187.9 186 188 184.8 187.9 1,015,480 190,324,807 (27,432,274) INTL CONTAINER 4.25 4.3 4.22 4.32 4.22 4.3 129,000 552,770 MACROASIA PAL HLDG 5.6 5.84 5.5 5.84 5.5 5.84 43,000 247,675 HARBOR STAR 1.17 1.18 1.11 1.18 1.11 1.17 1,149,000 1,336,990 (17,700) BOULEVARD HLDG 0.076 0.077 0.078 0.078 0.076 0.077 8,080,000 616,230 (17,020) 1.52 1.7 1.53 1.7 1.53 1.7 5,000 7,820 1,700 DISCOVERY WORLD 0.445 0.45 0.45 0.45 0.45 0.45 130,000 58,500 WATERFRONT CENTRO ESCOLAR 6.63 6.86 6.86 6.86 6.86 6.86 200 1,372 STI HLDG 0.325 0.33 0.315 0.33 0.315 0.325 3,420,000 1,114,600 (578,200) 1.19 1.2 1.19 1.19 1.19 1.19 210,000 249,900 BELLE CORP BLOOMBERRY 6.25 6.26 6.3 6.3 6.19 6.25 346,900 2,165,527 806,276 PACIFIC ONLINE 1.38 1.48 1.4 1.4 1.38 1.38 48,000 66,840 LEISURE AND RES 1.39 1.4 1.41 1.41 1.39 1.39 383,000 536,300 MANILA JOCKEY 1.09 1.49 1.49 1.49 1.49 1.49 6,000 8,940 0.76 0.78 0.78 0.78 0.76 0.76 726,000 559,320 PH RESORTS GRP PREMIUM LEISURE 0.415 0.42 0.42 0.425 0.42 0.42 2,520,000 1,060,350 PHILWEB 3.03 3.04 3.25 3.25 3.03 3.04 2,967,000 9,298,320 (1,759,440) ALLDAY 0.315 0.325 0.315 0.325 0.315 0.315 34,130,000 10,931,100 889,400 5.62 6 5.62 6 5.62 6 1,200 6,820 BERJAYA ALLHOME 4.85 4.9 4.92 4.92 4.85 4.86 38,000 185,160 (9,720) METRO RETAIL 1.45 1.47 1.45 1.46 1.45 1.45 52,000 75,410 PUREGOLD 32 32.1 30.9 32 30.9 32 3,416,000 108,459,885 (26,321,585) 59.1 59.7 57.95 60.2 57.95 59.7 691,060 40,993,235.5 21,816,632.5 ROBINSONS RTL 65.25 65.5 66 66 65 65 4,150 271,115 (162,500) PHIL SEVEN CORP 1.42 1.43 1.39 1.44 1.39 1.42 1,510,000 2,147,230 362,490 SSI GROUP WILCON DEPOT 28.35 28.4 28.4 28.85 27.8 28.4 2,844,200 80,913,060 (13,618,420) APC GROUP 0.192 0.2 0.2 0.2 0.2 0.2 20,000 4,000 0.76 0.77 0.73 0.78 0.73 0.77 3,025,000 2,314,570 (102,650) MEDILINES 0.4 0.41 0.4 0.41 0.4 0.4 810,000 324,850 (24,000) PRMIERE HORIZON MINING & OIL ATOK 7.52 7.7 7.02 7.8 7.02 7.52 409,500 3,057,904 APEX MINING 1.59 1.61 1.55 1.6 1.53 1.59 2,099,000 3,298,820 4.68 4.69 4.62 4.7 4.62 4.69 138,000 645,010 ATLAS MINING BENGUET A 5 5.04 5 5 5 5 2,000 10,000 BENGUET B 5 5.04 5.04 5.05 5 5 8,700 43,747 41,227 CENTURY PEAK 2.71 2.73 2.7 2.73 2.7 2.73 620,000 1,683,700 2.36 2.39 2.34 2.39 2.32 2.39 1,034,000 2,411,610 (121,950) FERRONICKEL 0.172 0.191 0.172 0.172 0.172 0.172 200,000 34,400 GEOGRACE LEPANTO A 0.135 0.138 0.139 0.139 0.139 0.139 10,000 1,390 LEPANTO B 0.133 0.138 0.133 0.137 0.133 0.137 100,000 13,340 MANILA MINING A 0.0095 0.0096 0 0.0095 0.0095 0.0095 0.0095 10,000,000 95,000 1.4 1.41 1.39 1.44 1.38 1.42 903,000 1,256,200 MARCVENTURES NICKEL ASIA 5.83 5.9 5.85 6 5.75 5.83 4,908,200 28,733,488 (4,944,851) ORNTL PENINSULA 0.78 0.8 0.8 0.8 0.79 0.8 229,000 182,960 PX MINING 3.14 3.16 3.17 3.18 3.13 3.14 1,345,000 4,234,440 (723,950) 40.85 40.9 41 41.2 40.75 40.9 6,315,800 258,373,055 24,104,375 SEMIRARA MINING 0.0059 0.0062 0 0.0059 0.0059 0.0058 0.0059 6,000,000 35,200 UNITED PARAGON ACE ENEXOR 15.62 15.7 14 15.78 13.98 15.62 1,522,200 22,807,358 (127,350) ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 3,600,000 39,600 ORNTL PETROL B 0.011 0.012 0.012 0.012 0.011 0.012 22,500,000 258,800 0.0086 0.0089 0 0.0087 0.0089 0.0087 0.0089 13,000,000 115,400 PHILODRILL PXP ENERGY 5.32 5.33 5.62 5.62 5.33 5.33 547,700 2,978,497 PREFFERED AC PREF B1 498 500 500 500 500 500 110 55,000 ALCO PREF C 100.9 104.9 104.9 104.9 104.9 104.9 10 1,049 496.6 500 500 500 496.6 496.6 6,990 3,477,694 AC PREF B2R CEB PREF 41.3 42 42 42 42 42 5,800 243,600 EEI PREF A 100.6 100.6 100.6 100.6 100.6 600 60,360 EEI PREF B 106 107 107 107 106 107 2,640 279,880 96 99 99 99 99 99 10,070 996,930 MWIDE PREF 4 PNX PREF 3B 78 79.95 78.95 79.95 78 79.95 4,870 382,742.5 PNX PREF 4 707 738.5 687 744 687 738.5 590 425,495 21,210 PCOR PREF 3A 1,035 1,054 1055 1,058 1,055 1,058 280 296,150 PCOR PREF 3B 1,053 1,060 1060 1,060 1,060 1,060 200 212,000 75.8 76 76.05 76.05 76 76 31,150 2,367,615 SMC PREF 2F SMC PREF 2H 75.1 75.2 75.2 75.2 75.2 75.2 770 57,904 SMC PREF 2I 75.5 77 77 77 77 77 16,870 1,298,990 SMC PREF 2J 73 73.9 73.95 74 72.5 73.9 7,010 518,113 72.75 73.75 73.7 73.75 73.7 73.75 11,650 858,962.5 SMC PREF 2K TECH PREF B2D 55.25 55.8 55.25 55.25 55.25 55.25 150 8,287.5 -

PHIL. DEPOSITARY RECEIPTS

-6.75%

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."

ABS HLDG PDR 8.8 9.58 GMA HLDG PDR 10.2 10.48

TECH WARRANT 0.67 0.69 0.68 0.7 0.67 0.69 393,000 266,130

WARRANTS SMALL & MEDIUM ENTERPRISES

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS KEPWEALTH MERRYMART XURPAS

0.64 1.02 0.86 0.69 2.32 1.23 0.3

0.66 1.04 0.87 0.71 2.5 1.24 0.31

0.69 1.02 0.86 0.71 2.32 1.24 0.295

0.7 1.06 0.87 0.71 2.32 1.26 0.31

0.63 1.01 0.86 0.69 2.32 1.23 0.295

0.66 1.04 0.87 0.71 2.32 1.24 0.31

8,994,000 8,630,000 44,000 622,000 2,000 1,082,000 180,000

5,808,800 8,950,720 38,040 435,400 4,640 1,343,420 53,500

(7,680) (15,550) (309,030) 50,600 -

EXHANGE TRADE FUNDS FIRST METRO ETF

98.6

99.35

99.4

99.35

5,410

536,449.5

(40,934)

www.news.businessmirror@gmail.com

DBP to finance new economic zone in Bataan for P2.3 billion By Bianca Cuaresma @BcuaresmaBM

TATE-run Development Bank of the Philippines (DBP) reported that it is set to finance the establishment of a new economic zone in the coastal town of Pilar in Bataan. DBP President and CEO Emmanuel G. Herbosa said the credit assistance amounted to P2.3 billion and was extended to real estate firm Diamond Land Resources Inc. (DLRI). The loan is expected to partially finance the first phase of the Bataan Harbor City (BHC) project. “We in DBP believe that the Bataan Harbor City will usher in a new era of prosperity in the province due to its potential to help attract foreign investments, generate economic opportunities, as well as create jobs for more Filipinos,” Herbosa said. The sixth-largest bank in assets provides credit support to four strategic sectors of the economy: infrastructure and logistics; micro, small and medium enterprises; the environment; and, social services and community development. The BHC is envisioned to become a self-sustained community and a master-planned development composed of a 75.5-hectare industrial estate with a neighboring port facility and an integrated property with leisure, tourism, commercial and residential spaces. The DBP said its financing will focus on the horizontal development of the first phase of the project, which includes the industrial park, residential, leisure, and tourism components. DBP Executive Vice President for Development Lending Paul D. Lazaro said the project is expected to significantly contribute to the economic development of Pilar, a thirdclass municipality with a population of over 46,000 residents and dubbed as the historical-cultural tourism center of Luzon. Lazaro said the BHC is expected to provide local employment to at least 300 personnel annually. “As an economic zone, we foresee this initiative as a key investment promotion tool which increases business, economic and spending activities in the area, while providing additional revenue to the local government in form of taxes, permits, and license fees,” Lazaro added.

Banking&Finance BusinessMirror

DBM to submit ₧5.27-T budget on time

By Bernadette D. Nicolas

@BNicolasBM

HE Department of Budget and Management (DBM) is on track to submit the proposed P5.268-trillion 2023 national budget to Congress on August 22. Budget Secretary Amenah F. Pangandaman said the timelines for the proposed national budget next year were among the matters discussed at Thursday morning’s meeting between the Marcos administration’s economic team and some members of the Lower House led by Speaker

Leyte Rep. Ferdinand Martin G. Romualdez. “It was just a quick breakfast meeting. We discussed the budget timelines and committed that from our end I will submit NEP [National Expenditure Program] 2023 on August 22,” Pangandaman told the

BusinessMirror. “DBM will submit on time. In fact, we are now in the process of printing the budget documents,” she added. Next year’s proposed national budget was higher by 4.9 percent than this year’s P5.024 trillion, but this was the lowest increase in a decade, Pangandaman earlier said. The administration’s top budget priorities for next year include education, health, social safety nets, infrastructure, and agriculture. Apart from the budget, Pangandaman said the legislative agenda was also discussed during the meeting, adding that the National Economic and Development Authority will convene the Legislative-Executive Development Advisory Council (Ledac) “soon.”

The Ledac serves as a consultative and advisory body to the President as the head of the national economic and planning agency for further consultations and advice on certain programs and policies essential to the realization of the goals of the national economy. It also serves as a venue to facilitate high-level policy discussions on vital issues and concerns affecting national development. Several lawmakers have recently prodded the Executive to convene the Ledac soon, arguing that the consultative body’s relative inactivity in the past administration partly accounted for the less-than-ideal liaison between the Executive and Congress, leading in turn to the veto of several bills passed by the 18th Congress. In his first State of the Nation Ad-

dress, President Ferdinand R. Marcos Jr. called on the 19th Congress to pass 19 priority measures to help his administration in the next six years. The President’s priority bills include the following: National Government Rightsizing Program; Budget Modernization Bill; Valuation Reform Bill; Passive Income and Financial Intermediary Taxation Act; Internet Transaction Act or E-Commerce law; Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery; enactment of an enabling law for the natural gas industry; amendments to the Electric Power Industry Reform Act or EPIRA; and, the Amendments to the Build-Operate-Transfer (BOT) Law, among others.

SEC warns public on investing in Binance crypto exchange–group By VG Cabuag

@villygc

DVOCACY group Infrawatch Ph said it has secured a statement from the Securities and Exchange Commission (SEC) cautioning the public against investing on Binance, the world’s largest cryptocurrency exchange. “Based on our initial assessment, Binance is not a registered corporation or partnership. Consequently, Binance does not possess the necessary authority and or license to solicit investments as only registered

corporations can apply for and be issued the necessary licenses to solicit investments,” the SEC’s Enforcement and Investor Protection Department said in a reply to a 12-page letter of the Infrawatch sent to the agency late last month. Terry L. Ridon, the group’s convenor, said they welcome the significant development, as it provides policy clarity on the position of government on unauthorized and unlicensed cryptocurrency platform operations in the country. “This advisory provides immedi-

NEW PRESIDENT

Photo shows Princess Charm B. Balingit, the newly-appointed president and director of Pru Life UK Asset Management and Trust Corp., the asset management company of insurer Pru Life UK. Balingit has been in the financial industry for almost 20 years with extensive experience in insurance, banking and asset management. She graduated cum laude from the University of the Philippines-Diliman with a Bachelor of Science degree in Business Economics.

ate protection to Binance users who may have lost their money investing in an unlicensed platform. It also provides a way forward on how to ensure greater accountability in the cryptocurrency sector,” Ridon said. “As more Filipinos participate in this emerging sector, it is the duty of government to ensure that all service providers follow strict regulatory mechanisms and undertake commitments protecting the investing public,” he added. The SEC’s reply, however, gave more of a template advise not to in-

to participants. QualitaHE most common tive value propositions question that a proare based on things that spective association cannot be quantified, e.g., member asks is: “What value do I get from being Association World a networking event that builds business relationa member?” From the perOctavio Peralta ships or a professional despective of the association, velopment program that it is about planning, develadvances your career. oping, organizing, and communicating its Step 2: Discover more value extervalue proposition. nally. This could be done via attendee Since value proposition is a key commarket research and sponsor market ponent of an association’s business research. For an attendee market remodel, the Philippine Council of Assearch, methods you can use include sociations and Association Executives surveys, focus groups, and phone calls (PCA AE) conducted recently a webinar with key leaders. Ask them what is imon “How to Write Value Propositions portant for them and how they value it. that Sell.” The speaker was Dr. Michael At the end of each encounter, quantify Tatonetti, founder and CEO of Atlanta, a the value and don’t be afraid to ask for US-based Pricing for Associations whose feedback. In short, you have to sell the mission is to advance associations in value well. their pricing models for financial susFor a sponsor market research, methtainability. ods may include phone calls and meetMichael presented a five-step process ings with potential sponsors. Ask what that your team needs when deciding what they value most and why until you get to do with the product and its pricing, to the heart of it. If the sponsor’s goal and how to sell the value to your board. is to gather at least 50 leads, then be Step 1: Define the value you give ready to respond or negotiate. In short, internally. This would be both quantitathis is B2B sale so you need to quantify tive and qualitative. Quantitative value the value. propositions are based on a numerical ROI Step 3: Write your value proposithat you can document and deliver upon, tion. Using a virtual event as an example, e.g., an exhibition guaranteeing that atyou may write the following value propositendees will meet 50 exhibitors or a leadtion to attendees: “Unlike our live event, ership program that provides three skills

vest on a firm that is not registered with the agency. It did not yet state what concrete plans it has on curbing the operations of Binance in the Philippines. Infrawatch’s letter to the SEC quoted newspaper reports that said Binance has some 3.4 million users in the Philippines. The group added Binance Holdings Ltd. has been operating its eponymous exchange in the Philippines sans securing a permit or license from either the SEC and the Bangko Sentral ng Pilipinas (BSP). Binance offers products and ser-

vices such as cryptocurrency exchange, peer-to-peer trading, spot and margin trading, cryptocurrency derivatives such as futures and options and cryptocurrency loans. The company has no office in the Philippines and only uses third-party companies that employ Filipinos for technical and support services. Former Finance Secretary Carlos G. Dominguez III also previously warned the public against investing on Binance since it does not have registration records with regulators.

VAT on digital transactions pitched By Butch Fernandez @butchfBM

ENATOR Pia S. Cayetano is pushing for passage of an enabling legislation imposing the value-added tax (VAT) on all digital transactions, saying it is but fair to traditional businesses that have for decades been covered by the VAT law. In filing Senate Bill 250, the senator proposes to collect the VAT on all sales and barters, or exchange of product and services done “digitally or electronically,” or using Internet technology, such as “online shopping, online video game, social network, online courses and webinars, online newspapers and those with digital contents like movie and music.” Cayetano clarified that the measure should not be seen as

Writing value propositions that sell

Editor: Dennis D. Estopace • Friday, August 5, 2022

you can access every single session live and on demand so you do not have to rush between sessions and make split-second decisions.” or “Attendees will have access to all 40 sessions—a 250 percent increase in training and knowledge!” For sponsors: “No need to put in sweatequity assembling booths. We will set up your landing page with a demo-scheduling tool so we bring leads right to you!” or “We’re proud to grow from 500 attendees on-site, 50 of which might be great leads, to over 2,000 registrants, quadrupling your pool of lead sources.” Step 4: Measure the value for pricing. This can be achieved by understanding your segments and doing a final market test with the price and value propositions to ensure your marketing and sales are ready before launch. Step 5: Communicate and sell. This can be made through sales pages, emails and content marketing. Some tips: share an evolving story, e.g., “We heard you…”; highlight your qualitative and quantitative values; think through your FAQs; have a video demo or beta testimonials for buy-in. Octavio Peralta is currently the executive director of the UN Global Compact Network Philippines and founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” E-mail: bobby@pcaae.org.

an imposition of a new tax, but a clarification of the Bureau of Internal Revenue (BIR) mandate, meant to strengthen BIR’s authority so it can collect VAT properly from all digital service providers based within and outside the country. She added that it was also anchored on similar legislation forwarded by the House of Representatives to the Senate in the 18th Congress, which aimed to equalize the treatment and imposition of taxes on traditional and digital business. Which means, she explained, that if a purchase in a department store is imposed a VAT, the VAT should also be imposed on a purchase made in an online shopping platform and the BIR must also collect it from the digital service provider. Moreover, Cayetano noted

that based on an international report, the Philippines had the “fastest-growing internet economy in Southeast Asia,” where 12 million new digital consumers were added since the Covid-19 pandemic started in 2020—apparently because lockdowns forced people to buy food and shop online for most of the products and services they required. As the country continues to accelerate towards digitalization, Cayetano said that it is thus important for the tax collection system to keep pace with developments. In his State of the Nation Address, President Ferdinand Marcos Jr. said the government is looking to collect P11.7 billion in 2023 from the imposition of the VAT on digital service providers.

GSIS to offer emergency loans for members in quake-hit Abra

TATE pension fund Government Service Insurance System (GSIS) announced it will open an emergency loan program on August 5 to nearly 7,000 members and pensioners in Abra, the epicenter of the 7.3 magnitude earthquake that hit the country last July 27. “We are encouraging our members and pensioners who have been affected by the earthquake to avail of the GSIS emergency loan,” GSIS President and General Manager Jose Arnulfo A. Veloso was quoted in a statement as saying. “Nandito po ang GSIS para tumulong.” [The GSIS is here to help.] According to the GSIS’s statement, it has already announced as early as July 28, the day after the earthquake, that it is prepared to open the emergency loan facility to extend financial assistance to its members and pensioners in Northern Luzon. However, under the guidelines, GSIS has to wait for the declaration of the affected localities as calamity areas before it could open the loan program. “The other provinces in North Luzon have yet to be declared as calamity areas but GSIS is ready to open the emergency loan program once the declaration has been done,” Veloso said. Affected active GSIS members working or residing as well as old-age and disability pensioners residing in the area may apply for the

loan until September 4, the statement read. Members and pensioners with existing emergency loan and would like to apply for the loan anew may borrow up to P40,000. The remaining balance will be deducted from their loan proceeds. While those without emergency loan, may apply for a P20,000 loan. Pensioners may similarly borrow P20,000. The proceeds will be directly credited to the borrower’s UMID card or temporary eCard Plus account. The GSIS said six portable wireless automated processing system kiosks were deployed to far-flung areas in the province to enable prospective loan applicants to save time and money in applying for the loan. “Sa mga pag-aari naman ng gobyerno sa Abra na nasira ng lindol, titiyakin po natin na magbabayad ang GSIS upang magawang muli ang mga nasirang pag-aari ng pamahalaan na naka-insure sa GSIS. Sa ngayon, na-inspeksyon na namin at na-assess ang damage ng pito sa 29 na gusali ng gobyerno na nasira ng lindol,” Veloso added. [As for the government properties in Abra that were damaged by the earthquake, we will make sure that the GSIS pays to rebuild the damaged government properties insured by the GSIS. So far, we have inspected and assessed the damage of seven of the 29 government buildings damaged by the earthquake.]

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Friday, August 5, 2022 • Editor: Gerard S. Ramos

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Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Lolo Jones, 40; Jesse Williams, 41; Jonathan Silverman, 56; Maureen McCormick, 66. HAPPY BIRTHDAY: Being informed will help you get your way. Protect your position, reputation and status by welcoming what others think. The knowledge you gain will help you appease anyone who opposes your plans. Don’t limit what you can do because you are too stubborn to give an inch to get a mile. Your numbers are 4, 12, 22, 26, 30, 37, 46.

ARIES (March 21-April 19): Be patient, thorough and protective. Take money matters and dealing with institutions seriously. Look at alternative methods of how to use your money wisely. Aim to build a secure future that offers peace of mind and the comforts you desire. HHH

KARL and Tina enjoying a morning outside their old Japanese house

THE ritual of sending off the insects during Mushiokuri

Those enchanting NHK World-Japan documentaries

TAURUS (April 20-May 20): Don’t let your concerns consume you. Be open to suggestions, consider all your options and don’t get in over your head. You may desire change, but don’t make a move to satisfy a whim. Be smart and sit tight. HHH

GEMINI (May 21-June 20): Getting along with your peers, friends and family will be complicated if you overreact or don’t fulfill your promises. Organization, preparation and finishing what you start will be the pivotal point between success and failure. Do what’s right. HHH

CANCER (June 21-July 22): Emotional spending won’t solve anything. Buying favors will backfire. Consider who you are, what you do and what you want. If you lose sight of your goals and agonize over what others think, you will miss an opportunity to advance. HHHHH

LEO (July 23-Aug. 22): Finish what you start. Refuse to let what others do start a feud. Distance yourself from situations, people and decisions you feel don’t support your needs. Choose stability over reacting emotionally. Don’t give in to someone manipulative. HH

YU MAYUYAMA creating the missing Phoenix for the celadon vase from the 12th- to 13th-century Song Dynasty

VIRGO (Aug. 23-Sept. 22): Get motivated to make changes that encourage better opportunities and relationships. Attend functions conducive to meeting people who can help you advance. Update your look to ensure others view you as trendy and progressive. Romance is on the rise. HHHH

NABASHEDLY poetic, one of the documentaries of NHK World-Japan on its YouTube channel (www.youtube.com/ user/NHKWorld) is called Rainy Nights, Summer Mysteries, and the presentation lives up to the expectations generated by that title. These documentaries are classified under NHK World, a way of introducing Japan to the nonJapanese. As such, there are foreigners acting as narrators (and, yes, speaking in excellent Japanese), or persons who introduce the series. In this film, we are brought into a world where seasons are not just a change in temperature but also the experience of magical things that appear with the shift in the wind, or a tiny trembling in the environment. One of these is the luminescent fungi that abound on a mountain in Kochi Prefecture (the equivalent of a province in our country). It asks the question about why these fungi give out an iridescent green light but it does not belabor the science behind them. We are, after all, curious human beings ready to be in awe of anything in the forest. With glimmering fungi here, can fireflies be far behind? Even in our country, we have fireflies. The difference that the Japanese bring to an appreciation of nature is their propensity to ritualize their approach to the elements around them. In Mie Prefecture, another event, the festival known as Mushiokuri, involves not watching insects but driving them away. It is a ritual aimed at driving away the insects that multiply easily during the summer season. However, if we examine the Japanese term for this ritual, the word “okuri” is to send off in a kind of farewell. The ritual involves a procession or parade on the paths built in between rice paddies, with people bearing torches and banging on drums. The documentarian offers a new insight on why the rituals

LIBRA (Sept. 23-Oct. 22): Take care of your health and emotional well-being. Risks will cause problems. Stick to what and who you know in order to ward off interference and peer pressure. Choose what makes the most sense and brings the highest return. HHH

are fast vanishing, and this is because with pesticides, the insects have all but disappeared and there is nothing to be sent off anymore. The documentary notes how the ceremonials are being revived and new lessons learned. Despite the absence of winter in our country (and maybe because we don’t have it), I became fascinated with a documentary on a German couple living in a village in Niigata, noted for having great snowfall at certain times of the year. At the center of the narrative in a documentary, titled Kar and Tina: Village Life in the Deep Snow, are two people who relocated from Germany to this rural village nearly isolated in the winter of 2021, when more than 4 meters (that is about 13 feet!) of snow covered the village. Karl, an architect, began his adventure by renovating a kominka, an old traditional Japanese house and turning it into their home. He worked on other structures in the village. During the filming, one woman who is retiring is viewing another kominka in the process of being rebuilt. More than just a tale of an aging society, this episode narrates a culture where people need to leave the city if they are to experience freedom. The documentary does not dwell on how repressive or demanding corporate life is, or the so-called lifetime employment in Japan that retirement is not a pause

but a beginning for a new life. We only meet a woman who enjoys foraging for wild vegetables on the mountain. She is with older women, some in their 90s, who are still able to explore the surroundings. In their company is another housewife who discovers wild meadow flowers and creates art out of them. We discover through the eyes and minds of Karl and Tina and the other villagers how a snow and a winter scene can be calming, and how they can “warm” the heart of the person. For Karl, walking on the snow into the woods can clear his mind and allow it to be “karappo” or empty. But what is a documentary on Japanese culture and society without one that focuses on their fastidious art of preservation. In a documentary, The Unknown Master of Restoration” we meet Mayuyama Koji and his son, Yu. The father and son are a tandem in restoring anything precious that has been broken. And we are not talking of expensive wares but museum pieces. As the documentary begins, we see them dealing with the Fujita Museum. Offered to them for restoration is a “chawan” or a teabowl connected to Sen no Rikyū, the person considered to have the deepest influence on tea ceremony. Before them, another restorer has applied to it the Japanese way

Continued on B5

SCORPIO (Oct. 23-Nov. 21): Keep your emotions in check and your mind focused on what you are trying to achieve. Refuse to let anyone stand in your way. Walk away from partnerships that no longer encourage or motivate you to look, feel and do your best. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Put more into your surroundings. Clear a space conducive to getting things done that will secure your financial position. Invest time and money in comfort, convenience and bringing you closer to loved ones. Be blunt and pay attention to detail. HHH

CAPRICORN (Dec. 22-Jan. 19): Simplicity and moderation will help you keep things in perspective and stay on target. Focus on your financial plans, and maintain a lifestyle that puts a smile on your face. Don’t give in to temptation or emotional manipulation. Romance is encouraged. HHHH

AQUARIUS (Jan. 20-Feb. 18): Bypass anyone trying to convince you to do something that doesn’t feel right. Take the path that feels comfortable and offers something concrete. Refuse to let an emotional incident ruin your plans or come between you and your goals. HH

PISCES (Feb. 19-March 20): Implement change and invest more time and money in you, your future and the lifestyle you want to live. A difference in how you look will attract attention and lead to compliments. Social events will bring you in contact with someone special. HHHHH BIRTHDAY BABY: You are astute, impulsive and passionate. You are persistent and visionary. H: Avoid conflicts; work behind the scenes. HH: You can accomplish, but don’t rely on others. HHH: Focus and you’ll reach your goals. HHHH: Aim high; start new projects. HHHHH: Nothing can stop you; go for gold.

‘file storage’ BY EVAN MAHNKEN The Universal Crossword/Edited by David Steinberg

ACROSS 1 Fiscal bigwig 4 Love to pieces 9 Intel-gathering mission 14 Place to go in London? 15 Car part used on a rainy day 16 Get hitched in Vegas, say 17 Sixteenth prez 18 Summer theme park attractions 20 Knighted folks 22 File format that’s often mispronounced 23 Inventor’s goal 24 Researchers on track to be profs 26 Enjoyed some pad thai 27 Tender cut of pork 28 “Deep Rock Galactic” resource 29 Bestie 32 Seattle has the only zero-carbon one in the world 34 Big ol’ nerd 36 Romantic partner 37 Bed coverings that are unfit for a king? 40 Diamond specialists? 41 “...ish”

42 43 44 45 46

Units of land Total jerk Whopper Messy person Body part with a hammer, anvil and stirrup 47 Movies, books, paintings, etc. 51 ___ Fire (indie rock band) 54 Samosa morsel 55 Big jump 56 Cloud storage option whose apps are featured at the ends of the starred clues’ answers 59 Like dry wit 60 Author Zola 61 Not serious 62 Part of the psyche 63 Great ___ (big dogs) 64 Disparaging 65 Kylo ___ DOWN 1 Hold tightly 2 One-named model known for romance novel covers 3 Hits snooze too many times 4 “That kitten is SO cute”

5 ___ Alley (wizards’ shopping hub) 6 Vision-related 7 Coral ___ (home to 25 percent of all marine life) 8 Screw up 9 Sympathize 10 Best of the best 11 A cryptographer might crack one 12 Neon sign word 13 Twitter headquarters? 19 LA’s WNBA team 21 They might be skipped 25 Conservationist Fossey 28 “Milk’s favorite cookie” 29 Person who buys hops 30 Destiny 31 Hullabaloo 32 Color similar to teal 33 Captain Morgan products 34 Like a bad situation 35 Lb. parts 36 “Just act natural!” 38 Evening party 39 50 percent 44 Punch bowl utensils 45 Fended (off)

46 “Bald” bird 47 Garment that protects against splatter 48 Japanese energy healing 49 Simpson with a blue beehive hairstyle 50 Watch secretly 51 Like some wine or cheese 52 Tomato variety 53 “Heads or tails” item 57 Uses a turntable 58 Optometrist’s organ Solution to today’s puzzle:

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Those enchanting NHK World-Japan documentaries Continued from B4 of repairing, called “kintsugi.” This approach is spellbinding enough, with the expert putting gold inlay where the parts have been shattered. Mayuyama, however, describes “kintsugi” as “urushaii” (literally, noisy or creating a clatter), which means the restoration calls attention to itself. Another object turned over to them is a Celadon Phoenix Flower Vase. Referencing a national treasure, the restorers discover that what they have before them is missing the phoenix figures. This means that they need to create two new pieces of Phoenix head, and make sure they are equal in dimension to the extant form. The son is assigned this formidable task. Discounting kintsugi, the two restorers remove the gilding applied to the bowl and the vase. They then put the pieces together with an exacting eye, using a special glue and paste made from ancient ingredients, including old tea powder. They are aiming at achieving a “tomonaoshi,” which is for the objects to “appear as if they are new.” Indeed, when the restoration is finished, the two individuals who commissioned the father and son the task are incredulous with the results. The narrator speaks of a broken bowl as “history as being broken.” Regarding the vase, Mayuyama employs a paste that when introduced to a drop of water produces a thin light on the surface, which then matches the new addition to the original texture. According to the documentary, “to restore a piece of pottery is to battle with its sense of translucence.” The range of NHK World-Japan documentaries is so varied, they pay tribute to the alluring complexity of Japanese cultures. They indicate a style which favors a slow rhythm that allows us to view a scene or an event, with measured annotations between the silences, the words not overwhelming the artefacts before us. n

Editor: Gerard S. Ramos

• Friday, August 5, 2022

Coco Martin bids a famous character farewell

FTER seven years on the air, FPJ’s Ang Probinsyano will bid adieu to its loyal viewers. The program started innocuously enough: a TV adaptation of the original 1997 film starring the late Fernando Poe Jr. The story follows a policeman named Ador de Leon who was killed in a drug bust operation after being betrayed by a fellow cop. Ador’s twin brother, Cardo Dalisay, assumes his late brother’s identity to ensure justice is served by going after the drug syndicates and dirty cops that were responsible for his brother’s death. Ador and Cardo are both played by Coco Martin. To say that FPJ’s Ang Probinsyano is a pop culture landmark is apt. After all, especially during the 2010s, when teleseryes that run for more than a year were something to crow about. This show lasted SEVEN years. It was consistently in the Top 3 of the mostwatched programs and even after ABS-CBN lost its broadcast franchise, its combined ratings (from A2Z, TV5 and Kapamilya Channel) were enough for it to remain in its lofty perch. Many have dismissed the show as just an actionpacked teleserye but thanks to its longevity, FPJ’s Ang Probinsyano became more than that. This deeply

character-based police drama from Dreamscape is notable for being a show where the situations were less important than the psyches of the cops who solved the various issues thrown at them. The show is often cited for promoting crime awareness and even many people lauded how the program puts on a mainstream platform realistic issues such as the illegal drug trade, police abduction, child abuse and many more. It proved that an action show can be dramatic, and that drama can be endearing even to male viewers. FPJ’s Ang Probinsyano launched Coco Martin to superstardom. Inadvertently, it also made a lot of its other cast members household names, such as Yassi Pressman and Awra Briguela, and reinvigorated the careers of veterans, like Susan Roces, Lito Lapid, Angel Aquino, Lorna Tolentino, Rowell Santiago, Jaime Fabregas, Joey Marquez, Edu Manzano, Joel Torre and, most recently, Charo Santos and Sharon Cuneta. The show has also garnered multiple awards from numerous award-winning bodies such as the PMPC Star Awards for TV, PEP List Awards, KBP Golden Dove Awards, and the Catholic Mass Media Awards, among others. Notwithstanding its much-maligned flaws (remember that viral video showing a supposedly dead body suddenly scratch its nose?) and how it became a running joke that Cardo seems to be immortal and couldn’t die, FPJ’s Ang Probinsyano will remain to be one of the most memorable TV shows in Philippine history. But in a way it’s a misnomer to call FPJ’s Ang Probinsyano as one of TV’s best shows—it’s a fine show on the level of character and writing and even direction, but what makes it a classic is that it became one of those shows that challenged its viewers. And TV is such a fickle medium where many showrunners

COCO MARTIN

in the country would forcefully dumb down their programs in their misguided assumption that viewers will flee anything remotely that challenges them. However, FPJ’s Ang Probinsyano has proven that millions will support a difficult, intelligent and even frustrating story—as long as you find the right mix. FPJ’s Ang Probinsyano will have its finale this month. It airs weeknights on Kapamilya Channel, A2Z, TV5, CineMo, iWantTFC, and Kapamilya Online Live on ABS-CBN Entertainment’s YouTube channel and Facebook page. Viewers who use any digital TV box at home such as the TVplus box only need to rescan their device to be able to watch FPJ’s Ang Probinsyano on TV5 and A2Z. The show is also available to viewers in and out of the Philippines on iWantTFC, while viewers outside of the Philippines can watch on The Filipino Channel (TFC) on cable and IPTV. n

B6 Friday, August 5, 2022

Laurent Boisdron is new GM of Lanson Place Mall of Asia

Sheraton Cebu Mactan Resort is set to open in September 2022

embellished with Cebuano-inspired design elements – from the earth-toned furnishings to the carefully handcrafted furniture. Unveiling the courtyard scenery is the swimming pool, complemented with the stunning view of Mactan Island’s famed white sand beach, natural landscapes, and crystal blue waters. Exhibiting the truest design philosophy of Sheraton’s “The World’s Gathering Place”, the outlet offers coffee bar, deli, and bakery coined as “Sa Sitio” – a community-inspired space, where guests can connect, join together, or be alone among others where a vast array of pastries, staple drinks, and grab-and-go offering for gastronomic satisfaction. While experiencing relaxation and fun activities in the resort, all three main dining outlets will have you ready to serve a variety of food selection. 5 Cien, the resort’s all-day dining, brings culture, art, and haute cuisine all together over an etch of international dining selections complemented with local selection of variations such as the taho station, sikwate or tablea station, and other Cebuano delicacies served in a gourmet ensemble. Dip, on the other hand, offers a neo festive palatable experience to the guests – serving the best of Nikkei cuisine paralleled with bold eye-catching Peruvian-Japanese dishes and interiors. Another peculiar feature in the resort is the Buhi Bar – a stone-carved exquisite cave bar serving classic and contemporary drinks handcrafted by seasoned mixologists paired with scrumptious Mediterranean dishes. Socials and business meetings are also catered in Sheraton Cebu Mactan Resort.

The property boasts a total of 1,400 square meters of event space, and 5 stateof-the-art Meeting Rooms. Another area of interest for events is the ballroom that can accommodate up to 500 guests which will surely trademark indelible memories. Sheraton Cebu Mactan Resort remains to loyal to Marriott International’s Commitment to Clean protocols and programs to strictly secure the guest experience and assure their safety. Parallel to the program, the resort also highlights its initiatives to conserve the environment through the Serve 360 Program: Doing Good in Every Direction, a collective effort for a more sustainable world. One of the initiatives implemented at Sheraton Cebu Mactan Resort, together with the 800 plus hotels in Asia Pacific, is the use of Residential Bath Amenities which projects to save 500 million tiny bottles in a year reducing 45% landfill waste – strengthening Marriott’s global environmental footprint. “We are to be welcoming guests to the Sheraton Cebu Mactan Resort. Recognized as one of the Philippines’ most important hubs, Cebu is one of the few places in the Philippines where white-sand beaches are within the reach from a bustling historic city. It is a place known for its heritage and natural environment, and this truly makes Sheraton Cebu Mactan Resort a tropical sanctuary to experience the authentic and heartfelt Cebuano hospitality,” said Sheraton’s General Manager, Dottie V. Wurgler–Cronin. For more information, visit www. sheratoncebumactan.com and follow @ sheratoncebumactan on Facebook and Instagram.

Amesco Drug launches online store on its 65th year

MESCO Drug Corporation, one of the biggest Mindanao drug store chains celebrates its 65th year anniversary with the launch of its online store. Being the go to pharmacy of Mindanao locals and having the most complete inventories for medical supplies, they have coined the popularity of the their company slogan “Basta Amesco, mas kumpleto, hanep sa serbisyo”. The online store, shop.amescodrug. com, offers a wide range of medical devices, supplies and equipment. These include body support devices, health monitoring devices, orthopedic supplies and equipment and hospital supplies, among others. Amesco Drug makes sure that their inventory of medical devices, supplies and equipment are up to date. Customers can even submit a

Award for outstanding quality for Radisson North America, among others. Slated to open in 2023, the first Lanson Place property in the Philippines is located in the heart of SM Mall of Asia. The property will feature a 247-room hotel and a 143-room serviced suites, providing guests with direct access to extensive retail, F&B and entertainment facilities. Lanson Place Mall of Asia is within close proximity to the flagship SMX Convention Center Manila as well as the iconic eCom office buildings, making it ideal not only for leisure guests but for business travelers and MICE delegates as well.

APDC, SMS Hospitality Network ink partnership

SHERATON Cebu Mactan Resort exterior façade. EING one of the world’s leading tourist destinations in the Asia Pacific, Mactan, Cebu is yet to have another hospitality and travel giant to cradle as Marriott International’s first resort in the Philippines finally opens showcasing its resilience despite the challenges met in the pre-opening. Nestled in the historic islands in the Philippines, Sheraton Cebu Mactan Resort shall become a destination for tourists as it unveils a welcoming and assured hospitality service and offerings. The property comprises of 261 stylish rooms and suites with the captivating views of the Hilutungan Channel, one of Cebu’s finest and richest sanctuaries, and the scenic Olango Island, one of the seven best-known flyaways for migratory birds in the world. The resort also offers the fitness gym equipped with modern facilities, the signature Sheraton Spa – the first of its rebranded feat in the Asia Pacific, the elegant functions spaces and board rooms, and a meticulously curated selection of dining outlets to seal the resort experience. The property gives pride to the spacious rooms with majority of it overlooking at the ocean view. On the highlight among the rooms is the Sheraton Honeymoon Suite. This uniquely designed space has the 180 degrees view of the ocean in the bedroom area. Room categories include the King Room, Sheraton Honeymoon Suite, the Junior Suite, the Executive Suite, and Presidential Suite. As the World’s Gathering Place in the Queen City of the South, guests will be welcomed by the open-space lobby

M Hotels and Conventions Corp. (SMHCC) is pleased to announce the appointment of Laurent Boisdron as VP & General Manager of Lanson Place Mall of Asia. Laurent has over 29 years of experience in the hospitality industry across Europe, the Middle East, United States, and Southeast Asia. Prior to his recent appointment, Laurent spearheaded the pre-opening and opening teams of Sable Navy Pier, Curio Collection by Hilton as the General Manager in Chicago, Illinois. Prior to that, he was the General Manager of SMHCC’s luxury property, Conrad Manila from 2018 to 2020. He also held various positions from the Radisson Hotel Group, namely: General Manager – Radisson Blu Cebu; Corporate Director of Operations for Owned & Managed Hotels–Americas; and Hotel Manager–Radisson Blu Chicago. Laurent’s work has been recognized through the years, as validated by his numerous awards: 2021 Hotel Management’s GMs To Watch (USA), 2019 CMO Asia Award for one of the Best General Managers in the Philippines, 2017 Asia Pacific Hotel of the Year Award (Radisson Blu Cebu), and the 2015 President’s

product request for items not on the website and Amesco's team will find that product for them. The items can be delivered right to their doorstep via delivery nationwide. The launch of the website also comes with payment options that accept International credit cards. Filipinos overseas may now purchase medical supplies for their loved ones in the Philippines from abroad.

They can log on to the website and order the medical supplies, pay using their credit card and have the items delivered to their relatives anywhere in the country. For more information, visit shop. amescodrug.com. Follow the brand on their social media channels: Facebook: Amesco Drug Corporation Instagram: @amesco.drug Tiktok: @amescodrug.official

AT PARTNERSHIP SIGNING, FROM LEFT: APDC VP for operations, Alexander Zafra Jr., APDC President, Godfrey Digal, APDC Chairman, Alfonso Damalerio II, SMS President and CEO Nikki Rocha, and SMS Managing Director Francis Asuncion.

THARRA Primeland Development Corp. (APDC) recently signed a hotel management agreement with Manilabased SMS Hospitality Network to fully manage Atharra Suites Panglao, elegant an 221-room, 5-story hotel in Dao town. Once opened in 2023, Atharra Suites will be the most stylish hotel in Panglao, targeting the discerning “bleisure” travelers, which combine business and leisure. “With the emergence of remote work location set up, as well as the vibe and energy of a co-working space, modern travelers can have the flexibility of working far from their homes to their favorite holiday destination for a fun-filled travel without compromising productivity,” says president and CEO of SMS Hospitality Nikki Rocha. The Quezon City-based firm is a hybrid hotel management company which assists small and medium-sized hotels unleash their full revenue potential by improving online visibility and boosting sales. “Our coffeeshop will have the energy of

a co-working space where you can build your network while sipping your favorite espresso or having a nightcap with a glass of wine in our rooftop bar while inking a million-peso deal with the picturesque beach as the backdrop. Those bringing their families can enjoy our Instagram-worthy swimming pool or just stroll along the beach,” SMS Hospitality managing director Francis Asuncion added. Atharra Primeland chairman Alfonso Damalerio II noted that Panglao will be the country’s next main gateway with the new Bohol-Panglao International Airport. “We are ready to welcome local and foreign visitors alike with the continued easing of travel restrictions globally,” he said. “Bohol has so many things to offer beyond its beautiful beaches. We have many ecotourism spots, historical sites, delectable foods, and of course, the warm and friendly hospitality Bolanons are known for,” APDC president Godfrey Digal concluded. For more information, visit www. atharraprimeland.com.

Cebuana Lhuillier Foundation steps up efforts to promote herd immunity against COVID-19

EBUANA Lhuillier Foundation (CLFI), the corporate social responsibility arm of Cebuana Lhuillier, partners with GoNegosyo on a campaign to actively support the humanitarian efforts provided by various private sectors. Their main objective is to help curb the impact of COVID-19 and ensure the health and safety of both community members and private sector employees. “Our participation in this campaign is in line with the national government’s efforts to address COVID-19. We believe that in order for us to combat this pandemic and keep everyone safe, tests and vaccinations shall be made available to the public, much more to our employees,” President and CEO Jean Henri Lhuillier said. In the early stages of the pandemic, CLFI purchased 20,000 rapid kits that were donated to 30 organizations, including national government agencies, public hospitals, various LGU’s, and other non-profit organizations. This

joint effort paved the way for the community members in far-flung areas to be tested and checked for COVID-19. Cebuana Lhuillier likewise allotted kits for its own employees, prioritizing their branch personnel who are the company’s frontliners. This has been the company’s practice up to this day since the onset of the pandemic in 2020. Through GoNegosyo’s private sectors alliance, CLFI was able to procure a total of 27,000 vaccines which included donations to both the national government, as well as local communities across the country. This also included 9,000 vaccines for PJ Lhuillier Inc.’s own employees. “Ensuring the health and safety of our employees is part of our commitment to continuously provide financial services to the general public. Our goal is to be able to vaccinate 100% of our employees to assure our customers that they are safe while transacting at any of our branches,” Lhuillier adds.

SUPPORTING THE BACKBONE OF THE COVID-19 RESPONSE TEAM. Cebuana Lhuillier Foundation (CLFI) actively takes part in its own COVID-19 response by empowering healthcare institutions by further ramping up more tests and vaccinations. Jonathan Batangan, CLFI Executive Director (4th from the left) and Dr. Philip Estinar, OIC Assistant Chief of Clinics of Sta. Ana Hospital (5th from the right) together with CLFI employees and hospital staff were present during one of the Tulong sa Pagbangon campaign activities.

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Editor: Jun Lomibao

CHEERS FOR ‘OTOM BOMB!’

TNT, San Miguel Beer brace for rivals’ strong comeback

By Josef Ramos

EFENDING champion TNT Tropang Giga and San Miguel Beer go for 2-0 leads in their respective semifinals series of the Philippine Basketball Association Philippine Cup at the Smart Araneta Coliseum. But their opponents—Magnolia and Meralco—are coming in prepared for Game 2 of the race-tofour duels set at the Smart Araneta Coliseum on Friday. After yielding 96-108 setback in Game 1 to the Tropang Giga last Wednesday, head coach Chito Victolero made sure his Hotshots are ready to equalize in Game 2 that’s set for 6 p.m. “We must,” Victolero told BusinessMirror. “We are ready offensively and defensively, we cannot afford to play like we did in Game 1.” Mikey Williams played big for TNT coach Chot Reyes with 26 points, a production Roger Pogoy complimented with his own 23 points in Game 1. Raymond Almazan, on the other hand, vowed that they would be playing with stronger legs in Game 2 to rid themselves of the stigma of an embarrassing 97-121 loss to the Beermen in their semifinals series opener. “It’s a long series but of course we cannot be down 0-2. We have stronger legs now than the last time,” said Almazan, who posted 16 points, six rebounds and two blocks in Game 1. CJ Perez was a main man last Wednesday with his 25-point output, making him a marked Beerman in Game 2, which, head coach Leo Austria said they won’t take for granted. “The Bolts want to run, they suffocate us with their defense. They are a defensive team while we’re an offensive team,” Austria said. “We have to improve our defense, and that would be the key. I already addressed that to them to keep our defense.”

mirror_sports@yahoo.com.ph | Friday, August 5, 2022 B7

SWIMMER Angel Otom emerges as the Philippines’s first triple gold medalist in 11th Asean Para Games.

URAKARTA, Indonesia— Angel Otom bagged two more gold medals, including one in recordbreaking time, to emerge as the country’s first triple gold medalist as the Philippine para swimmers emerged with four titles at the Jatidiri Sports Complex pool in Semarangi in the 11th Asean

Para Games Thursday. Picking up from where she left off, Otom was a runaway winner in the women’s 50-meter butterfly S5 event in 48.070 seconds, nearly eight seconds faster than the 17-year-old mark of 56.80 set by Singapore’s RT Goh in the Manila Asean Para Games in 2005. Otom finished so far ahead of Vietnamese Thi Sari Nguyen and Thi My Thanh Dan, who were second and third with times of 1:14.150 and 1:32.460, respectively. As an encore, the 19-year-old pride of Olongapo City added her second gold in the women’s 50-meter freestyle S5 event, leading from start to finish in clocking 41.40 seconds, much to the delight of her parents Marlou and Mila Otom, who flew all

the way from Manila just to watch their daughter perform. “I’m so happy but it has not sunk in yet that I’m the country’s first triple gold medalist,” said Otom of her outstanding achievement as a Para Games first timer. “So this is how it feels to watch your daughter win,” chorused Otom’s parents who witnessed their daughter compete for the first time. Ernie Gawilan scooped up his second gold medal in the men’s 200-meter individual medley SM7 also in record-breaking fashion in 2:49.530, sinking the 14-year-old standard of 4:00.02 set by Salungyoo Rawin of Thailand in the 2008 Bangkok Games. A pleasant surprise was rookie Marco Tinamisan, who won the

swimming team’s fourth gold medal in the men’s 50-meter freestyle S3 event in 54.660 seconds in the games supported by the Philippine Sports Commission. Over at the Manahan Stadium, wheelchair racer Jerrold Mangliwan secured his second gold in the men’s 400-meter T5 race in 1:06.20 while teammate Rodrigo Potiotan Jr. finished third but did not get a medal because there were only three entries in the event. He clocked 1:09.870. Gary Bejino lost by a touch to Thailand’s Aekkharin Noithatto and settled for a silver in the men’s 50m butterfly S6 event in 35.440 seconds to the Thai’s 35.300 seconds before securing another silver in the men’s 50m freestyle (34.40). The duo of Russel Cundangan

JAMAICA’S Ben Kong looks out at the sheet during a practice game against Hong Kong in April at the Unionville Curling Club in Markham, Ontario, Canada. AP

Slide over, bobsleds, curling coming to tropical Jamaica

LIDE over, Jamaican bobsledders. A group of expats from the ice-free island are hoping to bring a whole new winter sport to their tropical homeland: curling. Three decades after Jamaica crashed the Winter Olympics— and then crashed at the Winter Olympics—with the bobsled team made famous in the movie Cool Runnings, the country has joined the World Curling Federation (WCF). The status allows it to compete in international events, and the new national governing body is hoping that formal recognition will help the sport breakthrough in a place better known for sprinters, reggae and rum. “The bobsled team broke the ice— pardon the pun,” Curling Jamaica President Ben Kong said in a recent interview with The Associated Press. “Now there’s sort of an acceptance that Jamaicans can compete in any sport, even if it is a winter sport.” Born on Scottish lochs and most popular among Scandinavians, Scots

and Canadians, curling is riding a post-Olympic boost from TV viewers who quadrennially fall in love with the quirky sport with the sweeping and shouting and chess-like strategy. Lately, that’s brought the sport to some new—and non-white—nations. Since the Pyeongchang Games in 2018, the WCF has recognized federations in the Dominican Republic, Kenya, Bolivia, Turkmenistan, India and Kuwait. Jamaica is the first to join since the Beijing Olympics, earning conditional status last month as the third member from the Caribbean. WCF President Kate Caithness called it “an exciting milestone for the sport as we continue to increase our members in nontraditional curling nations.” Curling Jamaica technical director Cristiene Hall-Teravainen, who moved to Toronto when she was 6, said that after taking up curling in Canada she saw exactly one other person of color in competitions: a Russian. AP

Cool Smashers outhustle Lady Troopers in 4-setter

REAMLINE bucked a second set loss with superior firepower and class to beat Army Black Mamba, 25-21, 23-25, 25-19, 25-17, and set its title drive in motion in the Premier Volleyball League Invitational Conference at the Ynares Center in Antipolo City on Thursday. Four Cool Smashers churned out double-digit outputs to underscore their awesome offensive while their middle blockers and the rest kept their defense almost unbreakable at the net and on the floor to fashion out the one-hour and 56-minute victory.

It was a rousing win for a team seeking a second straight pro championship after running away with the Open Conference trophy last April. But the Cool Smashers are bracing for a tougher test given the strength of the rest of the semifinals cast, made more daunting by the presence of two foreign guest squads. But Kobe Shinwa of Japan and King Whale of Thailand won’t be seeing action until Monday when they

Czech ace eyes Ironman 70.3 crown in Cebu ETR LUKOSZ sets out as the man to beat in the Megaworld Ironman 70.3 Philippines blasting off Sunday in Lapu-Lapu City, Cebu, all fired up to nail the crown against a mix of international bidders five months after dominating the full Ironman race in Subic. The 40-year-old Czech ace bucked extreme heat and lack of competitions to rule the Subic joust (3.8-km swim, 180-km bike and 42-km run) in nine hours, 52 minutes and 34 seconds, nearly an hour ahead of second placer Filipino Jethro Ramos. That makes him the triathlete to watch in the upcoming 1.9-km swim, 90-km bike and 21-km run race presented by AIA Vitality which drew 1,898 bidders from 46 countries, which offers titles in 12 age-group categories on a refreshed racecourse. Lukosz and Ramos also head the 40-44 division of the event which also features competitions in the allmale and all-female relay and mixed relay. Also up for grabs is the CEO division trophy. Lanao del Norte’s Satar Salem, who topped the Sun Life 5150 Bohol last month, is also tipped to contend for the overall championship and in the 25-29 age category. Other titles to be disputed in the event, backed by Active, Breitling 1884, Gatorade, Hoka and ROKA, are the 18-24, 30-34, 35-39, 45-49, 5054, 55-59, 60-64, 65-69. 70-74 and 75-and-above. A total of 222 bidders are also vying in the Ironman Saturday, which ushers in the Ironman weekend. “For all the athletes, it is time for your preparations to pay off and enjoy the experience. We understand the effort and sacrifice that you have made to prepare fot his event and our IRONMAN team stands ready to help you achieve your goals,” said Jeff Edwards, managing director of IRONMAN Asia. The press conference for the Ironman 70.3 will be held at 3 p.m. today (Friday) with the Ironman race briefing set at 5 p.m. on Facebook live. Edwards also cited the event’s partners, volunteers, supporters and the local community for their all-out support to ensure the successful staging of the event billed as the crown jewel of Asian triathlon. Race director Neville Manaois also expects a fast but exhausting race against time in the bike stage given the reconfigured racecourse that will take the triathletes over the CCLEX bridge, which connects Lapu-Lapu City to the Municipality of Cordova.

PHL chess bets draw Israelis RANDMASTER (GM) Rogelio “Banjo” Barcenilla took his turn to lead the Philippines to another upset performance on Wednesday—a 2-2 draw with fancied Israel— in the sixth round of the 44th World Chess Olympiad in Chennai, India. Barcenilla beat GM Tamir Nabaty in 64 moves of a King’s Indian on Board 2 to save the day for the Filipinos, who dropped into a tie for 14th spot with 10 other countries with 9.0 match points. GM Mark Paragua was the last to finish as he tried to salvage a win but ended up splitting the point with GM Avital Boruchovsky in 59 moves of a Four Knights Game that sealed the stunning standoff. GM Darwin Laylo also drew with veteran GM Ilya Smirin on Board 3, but International Master Paulo Bersamina lost to GM Evgeny Postny on the last board. The 11-round, 12-day biennial event took a much-needed breather on Thursday before plunging back into battle in the seventh round Friday when the Philippines, sponsored by the Philippine Sports Commission, clashes with No. 5 Poland. National men’s team coach GM Eugene Torre is expected to field in an all-GM roster versus the Poles with GM John Paul Gomez expected to replace a shaken Bersamina in the lineup. In the women’s side, the Filipinas battled the lower-ranked Ecuadorians to a 2-2 draw, a result sealed by a defeat by Woman FIDE Master Shania Mae Mendoza to WIM Anahi Ortiz Verdezoto on board two. WGM candidate Kylen Joy Mordido delivered the lone win on board four while WIMs Jan Jodilyn Fronda and Marie Antoinette San Diego were held to draws on second and third board, respectively.

and Mary Ann Taguinod also took the silver in the J1-J2 women’s team event of judo. With the combined five golds of athletics and swimming, the country raised its overall medal tally to 19 golds, 16 silvers and 34 bronzes, just one gold shy of the 20 golds a Philippine para team hauled in the 2017 edition in Kuala Lumpur. The Philippines was poised to add another gold in the men’s P1 team event after FIDE Master Sander Severino and Jasper Rom downed their separate rivals in the fifth and penultimate round of chess at the Lo-rin Hotel. With their victories, the Filipinos were assured of their fifth gold regardless of the outcome of the final round.

FOR Creamline’s Tots Carlos, pink is the color of the day.

clash in an explosive twin bill capped by the Creamline-Cignal rematch at the SM Mall of Asia Arena. Tots Carlos, sporting a pink hair complementing the franchise’s colors, spewed fire from all angles and finished with 21 attack points for a 24-hit output, while Alyssa Valdez, Jema Galanza and Pangs Panaga hammered out 18, 12 and 10 points, respectively, for the Cool Smashers. So overpowering were the crowd

favorites that they produced 20 attack points more than the Lady Troopers, 63-43, while coming away with eight blocks, including three from Panaga, against their rivals’ six with Jeanette Villareal accounting for all but one. “We were able to recover from the second set since Army won’t give up that easily,” said Creamline coach Sherwin Meneses, so confident of his wards’ ability to bounce back. “That’s all we’re looking for

because the game is already there. And everybody contributed,” he added. Army also finished with four players posting double-digit scores but Jovelyn Gonzaga could only end up with 13 points while Honey Royse Tubino made 11 hits and Joanne Bunag and Villareal chipped in 10 points apiece. But it was only in the last two sets that Creamline reasserted its might with Carlos soaring for a slew of attacks on both sides, Valdez unleashing her trademark power hits and Galanza backing them up with her own variety of kills.

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Friday, August 5, 2022

Editor: Tet Andolong • www.businessmirror.com.ph

SHELL INTRODUCES FIRST EV CHARGING STATION AND CARBON OFFSET PROGRAM

Story & photos by Randy S. Peregrino

ILIPINAS Shell Petroleum Corp. recently introduced two sustainability initiatives for local motorists. First was the launch of the pioneer Nature-based Solutions (NBS) Carbon Offset Service for drivers, followed by Shell Recharge, the company’s first high-powered electric vehicle (EV) charging service in the country. The latter is also the first of its kind installed on Philippine expressways.

According to Pilipinas Shell, both initiatives emphasize the company’s drive toward decarbonizing mobility by helping customers avoid, reduce, and compensate for carbon emissions, as well as its transformation toward becoming the mobility destination of choice for motor-

ists. “Shell is rapidly becoming the Philippines’s leading mobility company, and this launch is a testament to the range of its offer to motorists,” said Istvan Kapitany, Global Executive Vice President for Shell Mobility. “The NBS Carbon Offset Service and Shell’s first EV charging

THE two EV charging points with CCS2 connectors THE newly-installed Shell Recharge EV charging facility

station in the country are among the initiatives to reduce carbon emissions and to cater to a growing number of customers whose needs are changing fast. We are making sure that Shell sites will become the go-to place for all customers, whether they drive traditional or EV, thanks to an

integrated offer of fuel, EV, and convenience retail. They will be mobility destinations for everyone,” Kapitany added.

Shell Recharge for EV

IN response to the growing demand for EVs, Pilipinas Shell and its retailers are taking the lead in the energy transition. Shell unveiled the company’s newlyinstalled and first EV charging facility at the Shell Mamplasan site. As the first Shell-branded charger, it will make charging an EV more convenient and accessible to users, considering the company’s claim that it is currently the most powerful DC high-performance fast charger located along South Luzon Expressway. Simultaneous charging is possible thanks to the two EV charging points with CCS2 connectors.

According to Shell, producing a 180-kWh current, an average EV can recharge to optimal battery charge levels in just 30 minutes. Of course, this varies per vehicle type and according to the EV’s battery management systems. According to Shell, the charging cost is P65 per minute. Considering that 30 minutes of charging is all it takes to attain an optimal EV battery charge level, EV owners are looking at P1,950 as a theoretical cost.

Driving Carbon Neutral with Shell

IN 2020, Pilipinas Shell became the first energy company in the Philippines to offer the NBS Carbon Offset Service to its B2B fleet customers. Today, with its retailers, the petroleum company will practice compensating for carbon emissions feasible for everyday consumers. No less than Pilipinas Shell Country Head Lorelie Quiambao-

VIOS CUP ENJOYS SUPPORT OF 2 GIANTS

HE best deserves only the best. That seems very natural for both Toyota Motor Philippines (TMP) and Petron Corporation. They have forged a partnership that aims only to magnify their being industry leaders in their own right. Their union began to take form in July with the blast-off of the 2022 edition of the Toyota Gazoo Racing (TGR) Vios Cup at the Clark Speedway in Angeles City, Pampanga, in the process strengthening their motorsports partnership that’s been forged with undiminished resolve. The iconic Vios Cup Race, first flagged off eight years ago in 2014, is now powered anew by Petron XCS as the event’s official fuel and the Petron Blaze Racing Engine Oil as the official engine oil. The TGR Vios Cup 2022 includes two main events, with the Circuit Championship showcasing the country’s top racing teams, and the Autocross Challenge featuring celebrities, influencers, and media personalities. Consisting of three legs, the last two races will be held this month and in November. All the competing race cars this year are powered by Petron XCS, a 95-octane premium gasoline formulated with a high-performance additive system containing a unique combustion catalyst and excellent detergent additive for optimum performance. The additive technology used in Petron XCS ensures quicker engine response, excellent engine protection,

and optimal fuel efficiency. Christine Giray of Gadgets said professional racer and motoring personality Mike Potenciano was able to gather excellent testimonials about the official fuel in use for the country’s broadest motor road race during Leg One on July 2. Mike quoted consistent podium finisher Iñigo Anton as saying: “Amazing! PETRON XCS works very well with our Vios Cup race cars and, of course, our road cars. It is good that Petron also supports local racing championships as it brings in more racers and a lot more competition.” Said Red Diwa, a Super Sporting Class competitor: “The XCS fuel is the number 1 fuel in the Philippines. There was no power drop from start to finish and it was very strong and powerful.” From Joaquin Garrido, Sporting Class rounds 1 and 2 winner for Leg 1: “It is a very, very good fuel for racing and for the road as well! There was no difference in power for the whole race.” And Gerald Loy, who finished first in the Super Sporting Class of the leg’s second round: “ Ang XCS natin ok na ok . Kahit sobrang init, from start to finish, walang problema .” Christine assures that with Petron XCS as the official fuel of the 2022 TGR Vios Cup, competitors are certain of enhanced engine power and responsiveness for the most optimal track performance. And with the Petron blaze racing

Osial pointed out that by being the first Shell market in Asia to offer this particular service to everyday customers, Pilipinas Shell underscores its commitment to continue powering progress to achieve a more sustainable future. “These two new low-emission energy solutions encapsulate what Pilipinas Shell means when we say sustainability. It’s about providing energy in a responsible manner to our consumers so that we can minimize the impact we make on the environment while achieving a lower-carbon future,” she added. The NBS Carbon Offset Service invites B2B Fleet customers and everyday drivers to go carbon neutral. Customers can opt to compensate for the equivalent carbon emissions from their fuel purchase for an additional service fee per liter. The total number of liters purchased with carbon offsets by customers are then assigned the equivalent carbon credits from Shell’s independently verified global portfolio of Shell NBS afforestation, reforestation, and conservation projects. These carbon credits are then retired by Shell on behalf of the customer. The launch of Shell Recharge and Shell NBS Carbon Offset Service is part of Pilipinas Shell’s steps to meet its goal of lowering its carbon footprint. Shell considers these new offerings as services to Filipino motorists and as Shell’s way to join every EV user’s and customer’s carbon offsetting journey. For now, Shell Recharge is available in Shell Mamplasan starting July and will gradually roll out to more Shell Mobility stations within the next 12 months. Shell NBS Carbon Offset Service is now available in 15 sites, including Shell Mamplasan, with a target of 100 more by the end of the year. engine oil in harness, it keeps the oil stable even at extreme temperatures, as it likewise provides the ultimate protection from engine stress while maintaining superior engine cleanliness. “Having served the fuel needs of the country for almost 90 years now,” said Christine, “only Petron has a deep understanding of the unique driving conditions on Philippine roads. Created by Filipinos for Filipinos, Petron fuels and lubricants are designed to meet the motoring needs of everyone, whether for everyday road use or on the highlycompetitive racetrack.” Toyota just continues to make the right choice.

PEE STOP Honda’s Pasig, Pampanga and Cebu dealerships will adopt the “New Visual Identity” of the global design network in the Philippines by the third and fourth quarters of 2022, Colene Jalalon reports...The Toyota Mobility Solutions Philippines, Inc. will be launched on August 12 at 11am at the Grand Ballroom of the Grand Hyatt Manila in Bonifacio Global City, Taguig. Health permitting, I told Sunshine Cabrera I might make it there? Cheers!... The nation mourns the passing of Fidel V. Ramos, our 12th president. A well-respected officer and a gentleman, FVR, 94, was my friend when he was Chief Executive; he became my bosom buddy after his term ended in 1998. Jake P. Ayson and Tony Sisante both recall FVR’s warm friendship, the duo doing a duet by saying, “Tabako always addressed us by our first name every time we crossed paths on the golf course.” FVR called me Kabaleyan Al—kabaleyan being the Pangasinense translation of compatriot. We are both from Pangasinan; he was from Asingan town, I am from Mangatarem. Goodbye, Sir. We will miss you.

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