BusinessMirror August 16, 2023

O.F. REMITTANCES SEEN TO BREACH $33.5B IN ‘24

By Jasper Emmanuel Y. Arcalas @jearcalas

CASH remittances sent by overseas Filipinos could surpass $33.5 billion next year, which could be the highest in at least six years, fueled by improved economic conditions abroad.

Bangko Sentral ng Pilipinas

(BSP) Governor Eli M. Remolona Jr. said at a Senate Committee on Finance hearing that they expect cash remittances to “rise further” next year from this year’s projected total amount of $33.5 billion.

Remolona made the remarks just as the BSP released on Tuesday the latest figures on cash remittances coursed through banks, indicating a 2.9-percent year-onyear increase in the total amount recorded for the first half. Based on the BSP’s projections, total cash remittances this year would grow by 3.07 percent yearon-year to $33.5 billion from $32.5 billion last year. (Related story: https://businessmirror.com.

ph/2023/08/14/bsp-efforts-tostabilize-phl-peso-successful/)

Executive Director Jeremaiah

M. Opiniano of the Institute for Migration and Development Issues concurred with Remolona in the expectations that total overseas Filipinos’ cash remittances would further increase next year.

“It will be surprising if remittances fall. With the US economy making a rebound as reported by CNN [citing US data], at least temporarily the world is enjoying a post-pandemic economic recovery [with some fits of slowdown like countries such as China]. So while there are these positive trends, migrants abroad try to send as many incomes as possible,” Opiniano told the BusinessMirror

First-half cash remittances

BSP data showed that first half cash remittances reached $15.79 billion, about $44 million higher than the $15.35 billion recorded in the January-to-June period of last year.

The BSP attributed the 3-percent increase in cash remittances to higher cash remittances from the United States, Singapore and

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surpassing even the toll of a 1960

By Andrea E. San Juan @andreasanjuan

NOTWITHSTANDING

the risks to the country’s economic growth, the National Economic and Development Authority (Neda) believes the Gross Domestic Product (GDP) growth targets in 2023 and in 2024 to 2028 remain achievable.

At the Development Budget Coordination Committee (DBCC) Briefing to the Senate on the Proposed Fiscal Year (FY) 2024 National Budget on Tuesday, Socioeconomic Planning Secretary Arsenio M. Balisacan said “risks to the growth

we took into account last year remained today.”

Balisacan said the domestic risks included elevated prices due to inadequate food supplies and, with the typhoons and natural disasters, the onset of El Niño which may last until the first quarter of 2024, and the spread of highly infectious animal diseases.

Meanwhile, external risks included “elevated” international commodity and input prices, lower global outlook and geopolitical and trade tensions.

Despite these risks, he said, “we believe the GDP growth targets—i.e., 6 to 7 percent in 2023 and 6.5 to 8 percent in 2024 to

2028—remain achievable.”

For 2023, Balisacan said the economy needs to grow by 6.6 percent in the second semester to achieve this year’s 6 to 7 percent growth, or an additional 0.4-percentage point from the baseline forecast of 6.2 percent for the second semester.  Moving forward, he listed government’s plans to attain these targets.

First, the need to sustain the downtrend in inflation by intensifying supply-side interventions and demand-side management. He said inflation is seen to go back to the 2 to 4

Remolona: Economy can absorb up to 6.8% policy rate

THE Philippine economy can absorb the impact of a policy rate of as much as 6.8 percent to fuel its growth in the long-run, according to the Bangko Sentral ng Pilipinas (BSP).

BSP Governor Eli M. Remolona Jr. disclosed at a Senate Committee on Finance hearing that a 6.8-percent policy rate in nominal terms would be “just right” to support the economy’s growth in the “long-run.”

“If we talk about the real rate, we remove the 3-percent inflation from the 6.25 percent, then the real interest rate of borrowing is 3.25 percent,” Remolona told senators, speaking partly in Filipino.

“That is quite low. Our estimated rate that is just right for [the long run for the economy to

ASHEN MOONSCAPE

The wildfire that struck Maui nearly a week ago has transformed one of the nation’s most celebrated island v istas into an ashen moonscape and claimed the lives of at least 99 people, a toll that authorities warn might increase as the search continues. This wildfire, the deadliest in the US in over a century, engulfed homes and businesses, consumed cars, and left neighborhoods in ruins. In some areas, the fire spread as swiftly as a car on a highway—covering a mile in just a minute. Lahaina was hit particularly hard, losing almost every building in the town of 13,000. The aftermath presents a challenging journey of recovery for survivors, who mourn the loss

lives,

search teams sift through the charred debris and families aim to rebuild. The cause of the wildfire is being investigated, fueled

dry conditions and strong winds linked to a passing hurricane. This wildfire marks Hawaii’s deadliest natural disaster in decades,

tsunami and a 1946 tsunami that claimed the lives of over 150 on the Big Island. AP/RICK BOWMER

DOT: We’ll rebid ₧50-M branding campaign project

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

HETDepartment of Tourism

(DOT) is set to rebid the P50million branding campaign project that produced the “Love the Philippines” slogan, after terminating the services of DDB Philippines Inc., the advertising agency which was earlier awarded the contract.

At Tuesday’s House of Representatives Committee on Appropriations Hearing on the DOT’s P2.99-billion budget for fiscal year 2024, Tourism Secretary Christina Garcia Frasco said, “I can confirm that since the termination of the contract, the process of procurement for the branding, which includes the production of videos, is already underway.” She added that DOT also “forfeited” the P14.98-million surety bond DDB had to submit in compliance with the terms of the branding project.

The so-called “mood video” created by DDB was found to have used foreign scenes, leading to to termination of its contract. The video was shown in Cambodia, to industry stakeholders, at the DOT’s 50th anniversary as part of the unveiling of the new “Love” slogan. It was likewise uploaded on DOT’s social media pages.

DDB project for TPB on sked

IN response to OFW Partylist Rep. Marissa “Del Mar” P. Magsino’s questions on other contracts

awarded to DDB,  Frasco said  DOT has also “suspended” the P124.45million project awarded to the advertising agency on February 8, 2023 for the “Promotion of Philippine Islands, Award-Winning Destinations, and Tourism Products.”

DOT’s marketing arm, the Tourism Promotions Board, on the other hand, said DDB already completed the P12.99-million branding project for the Meetings, Incentives, Conventions, Exhibitions (MICE) sector. “The contract that we have with DDB for the MICE  campaign is already ready to launch.  We also did a thorough review on the terms of reference and the deliverables of the DDB to us,  so far all have been okay. So we will continue with it,” said TPB COO Margarita M. Nograles.

DOT, however, didn’t mention the status of other projects which may have been won by DDB or its other units, such as Ripple8 for public relations, and Touch XDA, for media placement.

‘Speed up your BUR’ MEANWHILE , the commitee senior vice chairm Marikina 2nd District Rep. Stella Luz A. Quimbo, bewailed DOT’s poor budget utilization rate (BUR) of 31 percent as

PSA: Approved Q2 foreign investments hit ₧59.1B

of June 2023. Agency officials said they were targetting to increase its BUR to 55 percent this month.

“While everybody, of course, supports additional budget for the DOT, it’s very important for the DOT family to really show that it can fully absorb our current budget,” she said, trying to address concerns of fellow House members over the DOT’s P2.99budget for 2024, which was 20 percent less that its appropriation this year of P3.73 billion. She underscored the disappointing growth in the local economic output, which slowed down to 4.3 percent in the second quarter due to the 7-percent contraction in government spending. Analysts had been projecting the gross domestic product to grow by 6 percent in the second quarter.

The DOT budget includes allocations to the Office of the Secretary (P2.65 billion), Intramuros Administration (P75.95 million), National Parks Development Committee (P252.76 million), and the Philippine Commission on Scuba Sports Diving (P14.56 million). (See, “Tourism’s a priority, but agencies get P3B less fund,” in the BusinessMirror, August 8, 2023.)

TOTAL Foreign Investments (FI) approved in the second quarter of 2023 was recorded at P59.09 billion, 27.8 percent higher than the P46.26 billion in the same quarter of 2022, according to the Philippine Statistics Authority (PSA).

In a statement on Tuesday, PSA said these investments were pledges from the following Investment Promotion Agencies (IPAs), namely: Board of Investments (BOI), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark Development Corporation (CDC), Clark International Airport Corporation (CIAC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA).

PSA said no FI approvals were reported by the Authority of the Freeport Area of Bataan (AFAB), Cagayan Economic Zone Authority (CEZA), Poro Point Management Corporation (PPMC), and Tourism Infrastructure and Enterprise Zone Authority (Tieza).

The Zamboanga City Special Economic Zone Authority (ZCSeza), the latest addition to the list of IPAs covered by this report, also had no approved FI in the second quarter of 2023.

Of the total approved FIs for the second quarter of 2023, Japan posted the highest investment commitment of P20.36 billion, or 34.4 percent; followed by Singapore at P17.65 billion or 39.9 percent; and Cayman Islands at

Remittances. . .

Continued from A1

United Arab Emirates.

P11.63 billion or 19.7 percent.

By sector, manufacturing received the largest amount of approved investments at P35.07 billion or 59.3 percent of the total.

This was followed by Information and Communication with P13.92 billion or 23.6 percent share, and Administrative and Support Service Activities with P3.33 billion or 5.6 percent share.

Real Estate Activities received the largest amount of approved FI.

Approved Investments of Foreign and Filipino nationals in the second quarter of 2023 were expected to generate a total of  31,218 employment.

This indicates a 63.5 percent annual growth from the 19,094 expected employment in the same quarter of the previous year. Of this total employment, 67.9 percent would be absorbed by foreign investment projects, PSA said.

Among the regions, Soccsksargen received the largest share of pledged investment of P19.39 billion or 32.8 percent of the total approved FIs for the second quarter.

This was followed by Calabarzon with P14.64 billion or 24.8 percent; and the National Capital Region with P3.12 billion or 5.3 percent.

The total Approved Investments of Foreign and Filipino nationals reached P317.23 billion, or 218.4 percent higher than the reported amount of P99.64 billion in the same quarter of the previous year. Filipino nationals contributed P258.14 billion or 81.4 percent. Andrea E. San Juan

reach stability, i.e., stay at positive levels. Remember that even during the pandemic, migrants abroad tried to send more money,” Opiniano said.

grow as fast as ours is around 6.8 percent. Beyond that it would be dangerous for the economy. So it's 3.8 percent in real terms,” Remolona added.

T he BSP governor was responding to Sen. Imee Marcos’s query regarding the direction of the present 6.25-percent policy rate of the BSP—whether it would be maintained or would still increase.

Marcos explained, partly in Filipino, where she was coming from:

“That is one of the reasons being blamed for the slowed economic performance in the second quarter.”

Remolona said that having a policy rate of as much as 6.8 percent would not impede the economy’s growth.

“Hindi iyon makasasagabal sa ekonomiya [It won’t derail the economy],” he said.

Earlier, Remolona noted that the country is “nearing our full capacity” in terms of interest rates. This means, if the Monetary Board will raise interest rates on August 17, it cannot be too high.

Continued from A1 Neda.

“I think we’re very close to our full capacity at this point so that means, if we’re going to hike, we have to be very careful not to hike too much; [maybe just a little] but if we’re gonna cut, there’s room to cut. So wait until August 17,” Remolona said.

Meanwhile, resorting to a pause, Remolona said, will only happen if the Monetary Board gets conflicting data or those inconsistent with each other.

The BSP Governor added that the Monetary Board will consider the forward guidance of the United States Federal Reserve as well as the BSP when making its decision. (Related story: https://businessmirror.com. ph/2023/08/07/phl-may-overshoot-inflation-target-bsp/)

Jasper Emmanuel Y. Arcalas

Opiniano said it might be “too early” if there is a plateau happening already in terms of the growth rate of cash remittances in the first half, citing seasonality of remittances.

Historical BSP data showed that the increase in cash remittances during a January-to-June period has been within the vicinity of 3 percent since 2018, excluding the pandemic-struck years of 2020 and 2021.

“There may be unpredictable trends in regard to the growth rates of remittances. There is a ‘season’ for remittances, such as during tuition payments and perhaps Christmas,” Opiniano said.

“So it may be too early to tell that there’s a plateau happening already. [But] I do not expect remittances to jump its growth rates to over-10 percent. Gone are those days,” he added.

BSP data showed that the 3.6-percent growth in cash remittances last year was the slowest full-year growth recorded since the onset of the pandemic in 2020.

“But given that the world is now moving forward from this pandemic, hopefully remittance incomes transmitted home will

Continued from A1

percent target range in the second semester.

If inflation can be cut to 3 percent in the second semester, he said the country can pull up its growth by an additional 0.1 percentage point for the period.

B alisacan also cited the need to accelerate the execution of government programs and projects, including the delivery of public services and formulate catch-up plans on missed spending during the first semester.

The Socioeconomic planning chief said the catch-up spending for public construction activities may add up to 0.3 percentage points in the country’s economic growth in the second semester.

Meanwhile, he said, implementing the catch-up plan on maintenance and other operating expenses (MOOE) and personnel services (PS) will boost growth by 0.5 percentage points in the second semester.

To achieve the growth target set for 2024, Balisacan said “the government will continue to implement the strategies we have set in the Philippine Development Plan 2023-2028, guided by the President’s 8-point socioeconomic agenda.”

This in turn, also guides the

In June alone, cash remittances reached $2.81 billion, about 2.1 percent over $2.75 billion posted in the same month last year, according to the BSP.

“The expansion in cash remittances in June 2023 was due to the growth in receipts from land- and sea-based workers,” the BSP said.

Personal remittances

THE BSP said personal remittances from overseas Filipinos in June rose by 2.2 percent to $3.13 billion from $3.06 billion a year ago.

The BSP attributed the increase to higher remittances sent by land-based workers with work contracts of one year or more and sea- and land-based workers with work contracts of less than one year.

“Similarly, cumulative personal remittances grew by 3.0 percent to $17.59 billion in the first half of 2023 from $17.09 billion recorded in the comparable period in 2022,” the BSP said.

“Meanwhile, in terms of country sources, the US posted the highest share of overall remittances during the period, followed by Singapore, Saudi Arabia, and Japan,” the BSP added.

allocation of government resources to various programs and projects that will contribute to the attainment of the government’s socioeconomic agenda,” Balisacan said.

To strengthen people’s purchasing power, the government will still pursue priority measures that ensure food security and reduce transport, logistics, and energy cost. Balisacan briefed senators on the country’s economic performance, growth outlook and priorities for next year at the Committee on Finance’s hearing Tuesday on the 2024 National Expenditure Program (NEP).

At the same hearing, Finance Secretary Benjamin Diokno briefed senators on the status of the National Government’s revenue collection. He assured them the Department of Finance will continue its prudent debt management as it prioritizes domestic financing to prevent external vulnerabilities.

Budget and Managemen t Secretary Amenah Pangandaman cited the highlights of the proposed FY 2024 National Expenditure Program For FY 2024, Pangandaman said the proposed national budget is P5.768 trillion, or 9.5 percent higher than the P5.268-trillion budget for 2023.

The Senate Committee on Finance chairman, Sen. Juan Edgardo Angara, presided over the discussions on the proposed P5.768trillion budget. The 2024 NEP is equivalent to 21.7 percent of the country’s Gross Domestic Product (GDP). With Butch Fernandez

NGCP tells lawmakers: Don’t heap blame on us

THE National Grid Corporation of the Philippines (NGCP) on Tuesday told lawmakers that it should not be blamed for the three-day power outage in Negros and Panay last April.

During the House Committee on Energy hearing, NGCP said that although the April 27 disturbance occurred at the Bacolod-Silay 69-kiloVolt (kV) line, which is co-owned with the Central Negros Electric Co-operative Inc. (CENECO), no fault was found along the NGCP-owned segment and its protection system functioned as intended.

Subsequently, Palm Concepcion Power Corporation (PCPC), with estimated generation load of 135MW, tripped 1.3 seconds after fault clearing.

The NGCP explained that the resulting undervoltage and underfrequency were severe and unrecoverable, directly causing the tripping of other power plants, and ultimately, the Panay subgrid collapse. The subsequent trippings that occurred last April 28 and 29 were a direct result of the avoidable events of April 27, the grid operator claimed.

Other contributing factors that made it difficult for the Panay subgrid to immediately recover from the event includes unplanned outages and deration of other plants, insufficient non-variable energy sources and unique configuration of the Negros-Panay subgrid, and the delay in completion of the Cebu-Negros-Panay 230kV Backbone project.

The company highlighted that incidents like these may be caused by many factors and not only to a single

Rice farmers’ group cautions DA on warehouse inspections

energy industry player.

“The energy sector is an interconnected system among generators, the transmission network, and distribution utilities or electric co-operatives.

We have long advocated that a holistic approach to power planning, particularly proper, mindful, and responsible generation and transmission planning, are key to a stable grid.

Basic principles such as individual island self-sufficiency, decreased interisland interdependency, and transmission redundancies must be considered. Improvements must be made on the entire system,” NGCP said.

It already identified several solutions involving all sectors of the energy industry, including clearance of line obstructions, review of generator settings, improvement in generation planning, enhancement of information dissemination, effective use of emerging technologies, acceleration of grid reinforcement projects, and review of the grid code.

“NGCP is grateful that the Committee recognized that all sectors of the industry must be involved to create a lasting solution. We continue to look for opportunities for improvement, for broader solutions to long standing energy issues, as we coordinate with other energy players for a synchronized plan of action,” the power grid operator added.

“NGCP also vowed to expedite transmission side solutions, including the completion of the Cebu-Negros-Panay 230kV Backbone Project,” the company added. Lenie Lectura

NSP 2023-2028 to complement PHL development plan, Año says

ASIDE from giving the government guidelines in addressing all national security concerns, National Security Policy (NSP) 2023-2028 will also complement the medium-term Philippine Development Plan 2023-2028.

This was stressed by National Security Adviser (NSA) Eduardo Año in a statement Tuesday as he lauded President Ferdinand R. Marcos Jr. for issuing Executive Order No. 37, which effectively adopted NSP 2023-2028 on August 12. He said “NSP 2023-2028 aims to complement the medium-term Philippine Development Plan 2023-2028, as well as contribute to the realization of the long-term national dream of a ‘Matatag, Maginhawa, at Panatag na Buhay’ by the year 2040.”

Año, who is also the head of the National Security Council (NSC), said NSP 2023-2028 is in-line with the Chief Executive’s vision of a free, united, secure, and prosperous Philippines.

He also added that the NSC crafted NSP 2023-2028 with the goal of providing “the guidelines for addressing our national security needs and concerns in the next five years highlighting the crucial connection between security and development.”

The NSP 2023-2028 is the Philippines’ third such national security policy document that contains the guiding principles and interests for the protection and promotion of national security.

It further outlines policy objectives and priority areas to guide the state in its efficient allocation of its finite resources and capitalization of its core strengths for the attainment of a peaceful and prosperous nation.

Año said the national security goals identified in NSP 2023-2028 are based on an assessment of our ever-changing strategic environment, while also noting the country’s socio-political values, fundamental laws, and core national interests.

The NSP 2023-2028 has identified the following as the country’s national security interests: national sovereignty and territorial integrity; political stability, peace, and public safety; economic strength and solidarity; ecological balance and climate change resiliency; national identity, harmony, and culture of excellence; cyber, information, and cognitive security; and regional and international peace and solidarity.

THE Federation of Free Farmers on Tuesday cautioned the Department of Agriculture (DA) against “frightening” legitimate rice traders in its bid to control rice hoarding and eliminate market price manipulation through warehouse inspections.

“It is very difficult to detect hoarding and price manipulation. Traders normally buy a lot of palay during harvest time, then gradually mill and dispose of their rice inventory during the off season,” FFF national manager Raul Montemayor told the B usiness M irror on Tuesday.

“So it is only normal that they have stocks in their warehouses. As for manipulation, they can say they are just following price trends,” he added.

Montemayor cited a recent DA statement that the agency will tap its Inspectorate and Enforcement Group, headed by DA Assistant Secretary James Layug, to inspect warehouses amid persistent reports of manipulation of stocks to justify another spike in retail prices of rice.

DA Assistant Secretary and deputy spokesman Rex Estoperez said that while the Rice Tariffication Law or Republic Act (RA) 11203 removed the regulatory powers of the National Food Authority (NFA) to inspect warehouses, the DA is still empowered to visit rice storage facilities.

“We cannot compel the rice warehouses as the regulatory function of the NFA was removed but on the part of DA, we can, through our Inspectorate and Enforcement, we can also request them to visit the warehouses of rice,” he said.

Montemayor, however, said that some monitoring and inspection could help and discourage too much profiteering.

“But the basic problem still remains—there is limited and tightening supply because of the slow inflow of imports. But they also have to be careful so as not to frighten the legitimate traders,” the federation official added.

Estoperez noted that the retail price of the staple food increased as the palay harvest would start in the latter part of September or early October.

export ban as a humanitarian consideration,” Estoperez added.

Earlier, Agriculture Senior Undersecretary Domingo Panganiban announced that the country is eyeing the importation of 300,000 to 500,000 metric tons from India and Vietnam to ensure that there will be enough rice stocks in the country.

For his part, Jayson Cainglet, executive director of Samahang Industriya ng Agrikultura said that DA is “acting too late and too little” to assure the public that there is ample stocks of rice.

“By visiting warehouses, it sends the wrong signal that there is an ongoing hoarding or shortage of rice,” he said.

Cainglet added that “the President [Ferdinand Marcos Jr.] has assured us of enough stocks until the end of El Niño. What we do not have is the buffer stock in government’s possession.”

“The NFA has a P7-billion budget to buy rice. The price is P25/kilo farm gate, they can buy 5.6 million bags of rice,” he said.

Meanwhile, Cainglet said that instead of resorting to imports that will only benefit importers and favored traders, the DA, through the NFA, should start buying palay from local rice farmers.

“They asked for additional budget to buy rice. The mindset is always importation, we don’t have a shortage of supply. What is missing is the holding stocks of NFA,” he added.

Cainglet said that importation as a solution has all been discarded by countries in the era of extreme weather situations as the new norm.

“Countries with surplus production have been limiting their allocation for export as a way of increasing their local stocks. Nations across the globe are all protecting their local agriculture and building capacities for self

reliance,” he said.

Cainglet added “the last two cropping seasons have been very positive to our rice farmers because of the extended help of the private sector [buying palay from P21/kilo and up] and the increased fuel and fertilizer subsidies from the government.”

Meanwhile, farm-gate prices have increased and the cost of producing palay has been reduced because of these interventions.

These developments are encouraging farmers to plant and more institutional support from the DA would further encourage the local rice industry.

No rice price manipulation?

RICE traders in Intercity Industrial Estate and Golden City Business Park, two of the country’s major rice trading centers, denied allegations hurled by certain quarters that they are involved in rice price manipulations on Tuesday.

Rice stakeholders claimed that the Bureau of Internal Revenue (BIR) have started conducting revenue inspection on rice traders in the two major rice trading centers at a time when rice and palay stocks are currently thin and business is on a slump.

Malou Tolentino, Bulacan coordinator of the Philippine Rice Industry Stakeholders Movement, confided that many wholesale rice traders in Bulacan are thinking of temporarily shutting down their operations due to the high cost of palay that translates to the rising prices of rice.

Meanwhile, for his part, Tony Santos, a rice trader, said that the country is now currently at the peak of the “rice lean months” wherein stocks of the grain staple are thinly spread throughout the country.

He cited that rice prices usually increase during these times as palay traders and rice

traders have thin volume stocks of the staple grain and its prices follow the law of supply and demand.

Santos explained that the law of supply and demand states that prices are determined on the volume and supply of a product wherein if the supply of a good or service outstrips the demand for it, prices will fall. If demand exceeds supply, prices will rise.

Citing reports from certain quarters that rice traders manipulated the spike in rice prices, Santos urged these sectors to first assess the meaning of rice lean months; assess if the National Food Authority (NFA) or what government agency has enough rice buffer stocks for the country’s rice lean months; the effect in the increase of fuel prices and the rising dollar-peso exchange rate.

“What actually happened was that the price of rice increased in the world market,” Santos explained.

Recently, Kilusang Magbubukid ng Pilipinas national chairman Danilo Ramos and Bantay Bigas spokesperson Cathy Estavillo accused rice traders of being involved in price manipulation to justify the spike in retail prices of grains.

“It is not true that the high retail price of rice was caused by the high farm-gate price of palay as farmers have yet to harvest. The spike was caused by the rice cartel,” Ramos said.

“The stocks are already in the warehouses. The retail prices of rice have increased because of the rice cartel,” he added.

Estavillo noted that the farm-gate price of palay in Mindoro, Iloilo and Isabela was only at P21 per kilo.

“The P34 [per kilo] farm-gate price of palay mentioned by traders was only part of efforts to condition the minds of the public that the retail prices of rice could reach as high as P60 per kilo,” Estavillo said. Raadee S. Sausa

1. Defense and Military Security;

It also identified the following as the country’s 15-point National Security Agenda:

2. Maritime, Air, Land and Space Security;

3. Border Security; 4. Political Security; 5. Public Safety, Peace and Justice; 6. Health and Biodiversity;

7. Economic, Infrastructure and Financial Security; 8. Food, Nutrition and Water Security; 9. Energy Security;

10. Transportation and Port Security; 11. Moral and Spiritual Cohesiveness; 12. Socio-Cultural Cohesiveness; 13. Ecological Balance and Climate Change Resiliency; 14. Cyber, Information and Cognitive Security;

15. Regional and International Peace and Stability.

To implement the policy document, the President, through Executive Order No. 37, has directed all national government agencies and Instrumentalities, including governmentowned and -controlled corporations (GOCCs), and local government units (LGUs) to adopt NSP 2023-2028 in the formulation and implementation of their security-related strategies and programs.

“There is a need for all national security-related strategies, along with the plans and programs of all national government agencies and instrumentalities to be aligned with the NSP 2023-2028. This alignment is vital for the successful wholeof-government and whole-of-society implementation of the policy document,”

Año emphasized.

Executive Order No. 37 also stated that the National Security Council Secretariat, through the NSA, shall serve as the principal body for the monitoring of the implementation of the NSP 2023-2028.

The monitoring will be conducted by coordinating with various national government agencies and instrumentalities, GOCCs, and LGUs.

Año underscored his commitment to the effective implementation of the NSP 20232028, which now serves as the Philippines’ roadmap in ensuring that the country’s “sovereignty, territorial integrity, national interests, and the well-being of its people and institutions are preserved, protected, and enhanced.”

He added that NSP 2023-2028 will be vigorously pursued across all government agencies and that they will take the lead in mainstreaming the said policy not only in government agencies but across Philippine society. Rex Anthony Naval

He also defended the decision of the DA to use the humanitarian issue in its negotiation with India to allow the Philippines to import rice despite its export ban.

“We were hit by a typhoon and so far, based on our negotiation with India, we asked that we should be exempt from the

DOLE ready to assist workers affected by reclamation suspension–Laguesma

THE Department of Labor and Employment (DOLE) assured it is ready to provide assistance to workers, who are expected to be affected by the suspension of 22 reclamation projects in Manila Bay.

“As long as there will be workers who will be affected or displaced, we are prepared to help them in various forms,” DOLE Secretary Bienvenido E. Laguesma told reporters in an interview with reporters in Malacañang last Tuesday.

H e said the aid may include filling up vacancies in DOLE’s official job facilitation website, PhilJobnet.

The labor chief said they might also refer the affected workers to their partner firms and business organizations for placement.

As of Tuesday afternoon, Laguesma said they have yet to receive any report of workers, who were displaced amid the suspension the reclamation projects.

Last week, the Department of Environment and Natural Resources (DENR) announced the suspensions pending the result of their assessment on the soundness of the projects.

It noted that the reclamation activities, which will be found to have violated environmental laws and regulations, might have their respective environmental compliance certificate (ECC) suspended or even canceled.

DENR S ecretary Maria Antonia YuloLoyzaga assured they would give the affected reclamation projects time to implement the necessary corrective measures.

The review of the said projects comes amid concerns these have a negative impact on the environment, which includes worsening flooding in areas near Manila Bay and vulnerability to rising sea water level. Samuel P. Medenilla

Wednesday, August 16, 2023

PBBM orders faster rollout of programs to address government underspending

the DOLE chief said.

DOE screening at least 5,488 applications for LPG license

By Lenie Lectura @llectura

AN official of the Department of Energy

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Ferdinand R. Marcos Jr. on

Tuesday held a Cabinet meeting to fast track the rollout of government programs and address underspending, which plagued several agencies during the first half of the year.

“ The President gave those [agencies] with available funds, strict instructions to ensure social protection will reach their intended beneficiaries,” DOLE Secretary Bienvenido E. Laguesma said in Filipino during a briefing in Malacañang.

Laguesma was among the Cabinet officials who attended the meeting to present updates on their respective agencies’ budget utilization and catch-up plans.

The respective heads of the Departments of Social Welfare and Development (DSWD), Health, Agrarian Reform, Energy, Public Works and Highways, Migrant Workers and Transportation also joined the meeting. Last w eek, economic managers said government underspending contributed to the slowdown in economic growth during the second quarter of the year.

Among the iden tified causes for the

low disbursement of government agencies were procurement-related difficulties, substantial outstanding checks recorded as of end of June 2023 and billing concerns from suppliers/creditors. To help accelerate government spending, the Department of Budget and Management (DBM) proposed the creation of catch-up plans; early release of allotments, conduct of early procurement activities, and simplified Implementing Rules and Regulations (IRR) for the Government Procurement Reform law; launch of the Government Purchase Card program; digitalization of government disbursements and collection; and adoption of Integrated Financial Management Information System across agencies.

Flagship project

LAGUESMA admitted there was a slow pace in the implementation of their flagship emergency employment initiative, the Tulong Panghanapbuhay sa Ating Disadvantaged/ Displaced Workers (TUPAD) program, from January to March this year.

“We needed to have a stringent profiling of the intended beneficiaries to ensure the funds allocated for the program will go to the intended eligible citizens under the program,”

Und er DOLE’s catch-up plan, Laguesma said they are targeting to exhaust their funds before the last quarter of the year, including the P20.13 billion budget allocated for the TUPAD and Government Internship Program for 2023.

Our catch up plan is geared towards being able to utilize all the available funds but always conditioned that it will be given to proper beneficiaries and in compliance with documentary requirements,” Laguesma said.

DOLE hopes to further accelerate the implementation of its programs with the launch of its Labor and Employment Program, which was already approved by the President after being presented to the Cabinet last week.

We are targeting [the launch during] a National Tripartite Conference with an Employment Summit. So sometime in September probably,” Laguesma said.

Reassessment

DSWD Secretary Rexlon “Rex” T. Gatchalian also gave a similar commitment to increase spending once they resume with the implementation of their flagship anti-

Villafuerte bares SPIC budget hike to ₧49.8B

ASENIOR lawmaker on Tuesday said the national government will nearly double the funding for the social pension for indigent senior citizens (SPIC) program to P49.8 billion under the 2024 national budget plan.

C amarines Sur Rep. LRay Villafuerte said this funding will cover the 100 percent increase in the monthly stipend of these aging Filipinos, as provided for in the new law granting additional benefits to the elderly.

However, as for the additional monthly stipend due to the vulnerable elderly population for 2023—as a result of last year’s signing of Republic Act (RA) 11916, Villafuerte expressed the hope anew that the Department of Budget and Management (DBM) could ferret out enough funds in the current national budget to be able to carry out

fully this year the higher monthly pension of P1,000 for the country’s estimated 4 millionplus indigent seniors.

“Given the still elevated inflation, the decision by President Marcos to double the P500 monthly stipend to P1,000, in keeping with RA 11916, will mean bigger financial assistance for our indigent senior citizens who grapple with the ever-spiraling cost of living,” Villafuerte, a lead author of this amendatory social protection law, said.

“This dramatic increase in the annual outlay of the SPIC program means that far from ending up as a great but unfunded program, this 2022 law will actually spell greater financial relief for our indigent seniors who are in dire need of state subsidies to help them cope with incessantly soaring

Panel-crafted MUP bill seen ‘acceptable’ to all parties

Continued from A12

The House committed to approve its version on third reading as soon as possible or before August 29, he said.

“F or the past 25 years, the salaries have only increased for nine years, so this is also a win for the active personnel, who will get a salary increase every year for the next ten years,” he said.

“We are also ensuring that all the MUP services will get a separation benefit if they leave the service below 20 years in service.

That is a new benefit to the PNP,” he added.

Salceda said Congress, economic managers went through dozens of consultations, and heard the statements and comments of the various services before approving the bill.

“L et me reiterate the Three Guarantees of this Reform: Guaranteed salary increase; Guaranteed pension indexation; Guaranteed funding sources for the pension,” he said.

The approved substitute bill has included the proposed contribution

scheme for the MUP pension, which incorporates both the positions of the legislative and executive branches of the government.

Under the proposed scheme, for the first three years of the reformed MUP pension, the government will shoulder 16 percent of the contribution, while the MUP would contribute 5 percent to fulfill the 21 percent total monthly premium for the trust fund.

In the next three years, 7 percent will come from personnel and 14 percent from the government. T his sharing scheme will be updated until the seventh year, when a contribution ratio of 9 percent to 12 percent is reached.

The sharing scheme for new entrants will be 9 percent from personnel and 12 percent from the government.

In the bill, lawmakers and stakeholders also agreed on the retention of promotion to one rank higher upon retirement.

They also agreed to a 90-percent maximum retirement package based on the base pay of all MUP, raising by 5 percent

commodity prices and recover as quickly as possible from the economic scarring caused by the nearly three-year pandemic,” Villafuerte said.

But in the absence of a bigger allocation in the current national budget for the higher monthly pension, Villafuerte appealed to the DBM to “scour the 2023 GAA and other possible sources for enough funds to bankroll this year the 100 percent increase in the monthly pension of indigent seniors, in the same way that the Department had managed to ferret out a sufficient outlay to finance Malacañan Palace’s extended targeted cash transfer [TCT] project for the poorest families.”

He explained that RA 11916 last year doubled the monthly pension of indigent senior citizens from P500 to P1,000

the previous package for AFP personnel, plus base pay for a lump sum benefit upon separation below 20 years in service.

The bill also includes PNP personnel who served below 20 years in the list of those eligible for a lump sum separation.

It also guaranteed a 3-percent annual increase in salaries for 10 years and indexation of pensions to 50 percent of the adjustment in pay.

The proposal also fixes 57 as the age of retirement for all MUP.

According to Finance Secretary Benjamin Diokno, the President has approved decreasing the contributions of the government to the pool of funds for the pension of MUP, among other reforms to avoid a fiscal collapse.

For 2023 alone, Diokno said the government would spend more than P120 billion (roughly $2.21 billion at current exchange rates) to fund the pensions of those serving under several state institutions. The latter are: the Armed Forces of the Philippines; the Bureau of Jail Management and Penology; the Bureau of Fire Protection; the Philippine National Police; the Philippine Public Safety College; the Philippine Coast Guard; and the Bureau of Corrections. Jovee Marie N. Dela Cruz

poverty measure, the Pantawid Pamilya Pilipino Program (4Ps) next month.

C urrently, Gatchalian said they still have a P96 billion budget left for 4Ps amid their ongoing “reassessment” of 1.4 million household beneficiaries.

Among those undergoing the review were the 700,000 beneficiaries, who were supposed to graduate from the 4Ps prior to the pandemic, and another 700,000, who are still undergoing assessment to qualify for the program.

Come the end of September, the reassessment will be completed and what we could do next is start paying them [4P beneficiaries],” Gatchalian said.

He noted this would be the last year they will handle the list of 4Ps beneficiaries through their “Listahanan” database, which has 4.4 million registered households.

S tarting next year, he said, the creation of the 4Ps beneficiaries would be handled by Philippine Statistics Authority (PSA) and local government units.

“The task of creating the database was already removed from the national departments. PSA will now oversee it through its Community-Based Monitoring System,” Gatchalian said.

and granted additional benefits such as financial assistance to them from their local government units (LGUs) during disasters and calamities and tax breaks for employers that hire elderly Filipinos.

Villafuerte noted that in the President’s budget message to the 19th Congress following his economic managers’submission of his government’s proposed 2024 GAA of P5.768 trillion, President Marcos said: “We will provide P49.8 billion for the Social Pension for Indigent Senior Citizens to ensure ongoing support for our vulnerable elderly population.”

“This amount is almost double compared to its previous funding as a direct outcome of the implementation of RA 11916, which, among others, introduced an additional P500 to senior citizens’ monthly pension, bringing it to P1000,” added the President in his message. Jovee Marie N. Dela Cruz

(DOE) said Tuesday the agency is processing over 5,000 applications for the issuance of LPG (liquefied petroleum gas) licenses.

According to Rino Abad, DOE Director for Oil Industry Management Bureau [OIMB], a list of registered LPG participants and their accredited LPG brands will be released soon.

“We are processing so far around 5,488 applications as of August 9. It will probably take us around one to one and half months to process the applications. After which, we will release a list of registered LTO [license to operate] holders and legitimate brands,” said Abad.

Under the LPG Industry Regulation Act, LPG industry stakeholders are mandated to convert their Standards Compliance Certificate (SCC) to LTO. Failure to do so

would mean that their operations are deemed illegal.

“B y implication, any DOE-regulated LPG industry participants conducting business in the LPG industry without the said LTO and corresponding Certificate of Registration [COR] shall be in violation of the prohibited acts and will be penalized accordingly under the LPG Industry Regulations Act,” the DOE earlier warned.

Abad said illegal LPG brands are mostly those with generic cylinders. This can be determined if the trade name is not approved by the IPO, if the trademark is not properly marked in the cylinder, and if the trade name is not registered with the DOE together with its LPG seal.

He clarified that LPG cylinders with trade names Island Gas, Sulagas, and MGas are legitimate brands.

For 2022, the DOE-OIMB recorded LPG demand of around 3.297 billion liters or around 1.68 billion kilograms.

Employers reminded on proper pay rules during Aug holidays

THE Department of Labor and Employment (DOLE) reminded all private sector employers to observe giving proper payment of wages to workers in the upcoming holidays this month.

DOLE S ecretary Bienvenido E. Laguesma issued Labor Advisory No.17 Series of 2023, which specifies the proper computation of workers’ wages for the special (non-working) holiday on August 21 and the regular holiday on August 28.

A ugust 21, which falls on Monday, is a special non-working holiday in observance of Ninoy Aquino Day, and August 28, which also falls on Monday, is National Heroes Day.

Labor A dvisory No. 17-23 states that employees who worked on the special nonworking holidays must be paid an additional 30 percent of their basic wage on the first eight hours of work.

T hose who rendered overtime work shall be paid an additional 30 percent of their hourly rate on the said day.

The “no work, no pay” principle may apply to employees who did not report for work. This is unless there is an existing favorable company policy or collective bargaining agreement (CBA) granting payment on a special day.

“F or work done during the special day that also falls on the employee’s rest day, the employer shall pay the employee an additional 50 percent of the basic wage on the first eight hours of work,” the advisory noted.

T he advisory added that work done “in excess” of eight hours during the employee’s rest days privileges an additional 30 percent of the hourly rate on the said day.

E mployees who render work during a regular holiday, meanwhile, shall be entitled to a total of 200 percent wage for that day for the first eight hours.

In e xcess of eight hours, the employer shall pay an additional 30 percent of the hourly rate on the said day.

T hose we worked on the regular holiday despite being their rest day shall be paid an additional 30 percent of the basic wage of 200 percent.

T he advisory also states that employees who worked on the said regular holiday that falls on their rest day shall be paid an additional 30 percent of the basic wage of 200 percent. Those who rendered overtime work shall be paid an additional 30 percent of the hourly rate. Patrick V. Miguel

OCD gets 20 satcomm kits from private firm

THE Office of Civil Defense (OCD)’s capability to communicate with its units in the field during times of natural disasters or calamities was strengthened with the donation of 20 portable satellite communications kits by I.T. solutions provider Diversified Financial Network Inc. (DFNN, Inc.) last Monday, August 14.

OCD, in a statement, said the donated equipment consists of SpaceX Starlink kits.

It added that these portable satellite communication kits would greatly enhance the emergency communications capability of the National Disaster Risk Reduction and Management Council (NDRRMC) as this will allow operations in rural and remote areas.

“The said kits are low maintenance devices with low operational cost, easily deployable due to their mobility and portability design and can be operated by a single person. The Starlink kits can deliver high-speed internet to support virtual conferences, video calls, among others,” OCD noted. The handover of these communication equipment to the OCD was witnessed by Defense Secretary Gilberto C. Teodoro Jr., Civil Defense Administrator Ariel Nepomuceno and DFNN, Inc. chair Ramon C. Garcia Jr.

A demonstration of the equipment

capability was also done by the joint team of OCD’s Information and Communications Technology Division and the DFNN, Inc.’s technical staff.

“We welcome this donation as another boost in our effort to strengthen the communications capability of OCD, our counterpart DRRM councils and local governments using redundant communication systems across the archipelago,” Nepomuceno said.

The OCD chief also highlighted the importance of a reliable and resilient communication system as a critical component of humanitarian assistance and disaster response operations.

Meanwhile, Teodoro expressed his thanks to Garcia and DFNN, Inc. for their help in beefing up the government’s capability to prepare and respond to disasters.

The defense chief also explained President Ferdinand R. Marcos Jr.’s push for a vigorous effort to make the country’s disaster response system a more robust component of the national DRRM endeavor, able to ensure speedy, appropriate, and adequate response in times of emergency.

The OCD, the implementing arm and secretariat of the NDRRMC, also provides emergency communications support to

disaster-stricken local government units and localities as part of its repertoire of emergency management functions.

Meanwhile, Garcia reiterated their organization’s commitment to support the continuous strengthening of the Philippines’ disaster management system.

“By providing Starlink connectivity to critical government functions, particularly in disaster risk reduction, we are taking a step toward the future where communication is never compromised, even in the face of nature’s most challenging moments,” he added.

Garcia said this aligns with the government’s vision of creating a leading digital infrastructure that is both sustainable and globally scalable.

“Our contribution to this noble cause is not just about technology; it’s about people, progress, and the resilience of our nation,” he added.

The donor organization, DFNN, Inc., is a publicly listed company on the Philippine Stock Exchange.

It has operated as a leading I.T. solutions provider and systems integrator, enabling its clients to compete in an increasingly technology dependent environment since its establishment in 1999. Rex Anthony Naval

Editor: Vittorio V. Vitug

Wednesday, August 16, 2023 A5

Makati: Taguig takeover won’t happen sans writ

By Claudeth Mocon-Ciriaco @claudethmc3

THE Makati City government on Tuesday demanded that Taguig City officials should first secure a writ of execution to implement the transfer of jurisdiction of over 10 barangays.

Taguig needs to secure a writ of execution to effect the transfer of jurisdiction over 10 barangays from Makati to Taguig, the Administrator of the Supreme Court said,” Makati said in a news release.

Such, the Makati City statement read, is contained in a reply to a query posed by Makati Regional Trial Court Branch 64 Executive Judge Gina M. Bibat-Palamos to the Office of the Court Administrator.

Meanwhile, as an initial assessment, the decision of the Supreme Court’s Third Division should be the subject of a writ of execution before the trial court of origin. When the said writ has been implemented by the Department of the Interior and Local Government, then that is the reckoning period for the transfer of jurisdiction of cases emanating from the Fort Bonifacio Military Reservation, consisting of Parcels 3 and 4, Psu-2031, from Makati City to the City of Taguig,” stated Court

Administrator Raul B. Villanueva in his reply to Executive Judge Bibat-Palamos dated July 25, 2023.

Makati City Administrator Claro F. Certeza said Villanueva’s response has “set a clear path forward, delineating the necessary steps that must be taken before any jurisdictional transfers can proceed.”

H e explained that he wrote a letter to Palamos last August 11 to seek clarification on the transfer of pending court cases in the 10 affected barangays. On Monday, he received the reply from the executive judge, who quoted Villanueva’s response verbatim in her letter.

V illanueva further stated, “All cases currently filed and pending before the first and second level courts in Makati City should continue to be tried, heard, and decided by the said courts.”

Lying again

MEANWHILE , Taguig City accused Certeza of lying anew to the public when he announced that officials of Taguig City “rejected an offer from Makati to continue providing free uniforms, shoes, supplies and other school needs of some 30,000 public schools students” affected by the final decision of the Supreme Court to return the jurisdiction of 10 barangays from Makati to Taguig.

I n a new release issued on Monday, Certeza said that the offer was made during a meeting called by the Department of Education (DepEd), which was attended by both Mayors Abigail Binay of Makati and Maria Laarni Cayetano of Taguig.

What he deliberately fails to disclose is that he himself was not present during the meeting held on July 18. The belated announcement, made in time for the start of the academic year, is maliciously calculated to portray Taguig as an uncaring city,” Taguig said.

T hey urged Certeza to stick to the facts that Cayetano asked the DepEd for a meeting inasmuch as Taguig needed to prepare for the Brigada Eskwela and opening of the school year and ensure that services to students, teachers, and staff would not be disrupted.

A nd that, during the meeting, Binay promptly made it clear that she would close down all the public schools in the so-called “embo” barangays unless Taguig pays first for the cost of the school buildings or else pays rent for their use.

“ That was the first and only matter she wanted to talk about during the meeting,” Taguig said.

T his shocked Cayetano, Taguig said.

C ayetano, they added, expressed disbelief at such threat.

Mayor Binay, just days prior, was in Facebook live shedding tears for her students and their parents but in private showed no concern at all for their effective expulsion from their schools. She was using the students as bargaining chips for her misguided cause,” they said.

Cayetano maintained that the issue of ownership or reimbursement should be deferred as it only distracts the parties from the pressing issues that need to be addressed.

L ikewise, Cayetano stressed that the focus should be the coming Brigada Eskwela and opening of school year.

O n the other hand, Binay, in passing, reportedly boasted that Makati provides school packages to its students to which Cayetano replied, “Taguig provides similar benefits and thus Makati should not be worried.”

L ater, Binay said that she would ask the Commission on Audit (COA) if she could still spend for the schools and students in embo.

T hen, Taguig City Administrator Atty. Jose Luis G. Montales replied that COA’s opinion is irrelevant to the issue of transition, and that Brigada Eskwela and opening of school year were timelines that would not wait for Makati’s demands and pre-conditions.

“ In the end, the DepEd agreed with Taguig’s position. Mayor Binay, realizing that closing down the schools contradicts her public and crying pronouncement, withdrew her threats and went along with the transition. Consequently, DepEd issued its Regional Memorandum Order No. 2023735 which ordered the transfer of management and supervision of the affected public schools from the Division of Makati City to the Division of Taguig and Pateros,” Taguig said.

A lso, Taguig requested Makati to provide the data pertaining to number of students per grade level, number of city-hired school employees, types of benefits given to students and teachers, and other relevant information necessary for planning for the schools in the affected barangays but Unfortunately, Makati simply ignored our request, Taguig said.

Taguig is ready

DESPITE all the obstacles, delays, and difficulties thrown its way, Taguig assured that it is ready to extend to its new students in the 14 schools all the benefits that they presently give to their students.

We reiterate that we heartily welcome our new constituents. We will work even harder to expand and improve the services we deliver for our new residents,” the Taguig City news release said.

Cooperation

TO achieve this goal without further delay, Taguig urged Makati to cooperate and turn over to Taguig—at least as initial step:

1. Tthe list of Senior Citizens and Persons with Disabilities so we can start giving them door to door their birthday cash gifts;

2. T he list of residents with asthma, hypertension and diabetes so we can deliver monthly house to house their maintenance medicines;

3. The list of residents who are bedridden so our health personnel can visit them regularly and provide them home care;

4. The list of taxpayers so they can immediately avail of our lower tax rates;

5. The streets in embo so motorists can enjoy the No Number Coding policy of Taguig.  O ne final note, since Makati boasts to have so much cash and resources, it may consider giving school supplies, uniforms, and shoes to students from local government units devastated by calamities, the Taguig news release added.

Taguig disregarded the rule of law

CERTEZA , on the other hand, accused Taguig of not adhering and disregarding the rule of law.

It is evident that Taguig did not adhere to and disregarded the rule of law by not waiting for a writ of execution. Their unlawful entry in our public schools, without securing the necessary legal processes, clearly demonstrate a lack of respect for established procedures and the principle of jurisdiction,” Certeza said.

C erteza was referring to the launching of the annual Brigada Eskwela at Makati Science High School, which was attended by Cayetano.

S he also visited Fort Bonifacio Elementary School and Fort Bonifacio High School—all three schools are located within the disputed territories.

C erteza appealed to Taguig to adhere to the rule of law to avoid sowing confusion among parents and students and unnecessary tension in barangays affected by the SC decision.

T he Makati official said the city might file criminal and administrative charges against Taguig for its unlawful attempt to take possession of properties owned by Makati.

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SPECTRUM BRINGS SUSTAINABILITY WITHIN REACH OF FILIPINO CONSUMERS

targets and operationalize initiatives to achieve their financial objectives while protecting the environment.

Spectrum has welcomed additions of renowned brands to its growing portfolio of clients that engaged them to advance their sustainability goals through cleaner energy. Among the new customers are Aficionado and Takoyatea by Joel Cruz.

office in Sampaloc, Manila, and its manufacturing plant and warehouse in Meycauayan, Bulacan. With a combined expected annual savings of around P951,000, the two respected brands will collectively reduce their carbon footprint by 87.34 tonnes equivalent to planting 4,020 trees or reducing nearly 348,000 kilometers in car travel in a year.

The Orchard Golf and Country Club, a sports and leisure park located in Dasmarinas, Cavite is among the many businesses that have already been enjoying the benefits of using solar power. The Orchard’s partnership with Spectrum involved the installation of a solar rooftop project with a capacity of 99.9 kWp.

the benefits that solar power offers from the prospect of caring for the environment to incurring potential savings on power expenses.

Taking the leap and investing in solar energy, one of the most popular types of renewable energy in the country, has become a viable and popular option to embrace sustainability, and demand for credible and reliable partners to make this happen has significantly grown.

Spectrum, a solar power company owned by Manila Electric Company (Meralco), has become one of the top-of-mind solutions providers for customers who opt to utilize renewable energy.

Spectrum hits 50-Megawatt target

SINCE its establishment in 2016, Spectrum has been at the forefront of empowering customers to embrace sustainability through utilization of renewable energy, particularly solar power.

Backed by Meralco’s energy expertise and safety track record, it should no longer come as a surprise that consumers consider Spectrum as one of, if not the most reliable partner as they embark on their sustainability journey.

The company tailor-fits solutions for industrial, commercial, and residential customers through an in-depth understanding of energy consumption patterns and strategic

partnerships with world-class technology partners.

The solar unit’s commitment to deliver topnotch service has earned the trust of many customers from big industrial ones down to the households, all of whom have entrusted not just their solar investment but also their journey towards sustainability to Spectrum.

Spectrum’s roster of local and international customers paved the way for the company to end the year 2022 strongly as it successfully achieved its 50-Megawatt target for installed capacity.

These partnerships have so far generated around 67,500,000 kilowatthours (kWh) of clean energy and have reduced total customer carbon footprint by more than 48,000 tonnes. This is equivalent to a total of more than 2,200,000 million trees planted to offset carbon emissions or an aggregate reduction of 192,000,000 km in vehicle travel.

Helping sustainabilityadvancegoals

EMBEDDING sustainability in operations of businesses and local governments and in personal lifestyles has been gaining ground over the years.

For businesses, it has become imperative to set sustainability

Through these partnerships, Spectrum installed solar photovoltaic (PV) systems with a collective capacity of 89.82-kilowatt peak (kWp) in four sites including the solar rooftop project in Takoyatea’s commissary in Sampaloc, Manila, which was energized in June 2022. The other three sites include Aficionado’s main

Reaping the benefits of partnering with Spectrum

PARTNERING with Spectrum brings a host of significant benefits to individuals and businesses alike. The company’s expertise enables customers to maximize their solar investment.

One year following its completion, the solar installation generated more than 125,000 kWh of clean energy and has allowed The Orchard to save around 10,000 kWh in monthly energy consumption. This translated to savings in energy costs amounting to P785,000 in 2022.

Furthermore, the company’s carbon emissions have been reduced by around 89 tonnes, which is equivalent to planting 4,100 trees or reducing approximately 355,000 kilometers in vehicle travel per year.

After realizing the benefits of its first solar installation, The Orchard signed another deal with Spectrum for a 99.9-kWp solar installation to further reduce energy cost.

Prior to engaging the company, The Orchard’s sustainable practices included having bird and wildlifefriendly areas and using environmentfriendly fertilizers and pesticides. The initiative to utilize renewable energy through a solar rooftop installation was considered another milestone that further cemented the company’s commitment to continue being a sustainable business.

While 98% of Spectrum’s customer base comprises industrial and commercial businesses, the company also extends its services to residential customers. Over the years, perception of sustainability has continued to grow, hence, more and more individuals have recognized

A good example would be Mr. Jun Umali, the President and CEO of Gardenia Philippines. He tapped the services of Spectrum for a solarpowered rooftop for his newly built home back in 2018. Benefitting from his solar facility with a total capacity of 6.16 kWp, his 5-month average bill of P28,000 declined to a 5-month average of P22,600 reflecting approximately 19% savings. As part of Spectrum’s end-to end service, the company continues to handle the maintenance of Mr. Umali’s solar panels.

With a genuine appreciation for the benefits of utilizing clean energy, Mr. Umali also tapped Spectrum’s services in installing a 250.8-kWp solar system for one of Gardenia Philippines’ warehouses.

This is a testament to the longterm savings in cost that customers can experience through utilization of solar power. In addition to this, customers are also empowered to future-proof their homes and businesses by championing energy independence and sustainability.

“With sustainability at the core of Meralco’s business strategy and operations, the company aims to achieve its business objectives while protecting the environment and powering the good life for its customers. Spectrum is a testament to that. While we are committed to achieving market leadership in the solar power space, we also strive to foster a culture of sustainability and preserve the environment to ensure a better, brighter and greener future for the next generations,” Spectrum President Ferdinand O. Geluz said.

WITH the heightened awareness on environmental issues, many consumers now consider sustainable practices as a way to help address the impact of climate change.

IN PHOTO L-R: Spectrum President and CEO Engr. Ferdinand Geluz, Aficionado President and CEO and Takoyatea owner Joel Cruz, and Spectrum Chief Operating Officer Patrick Panlilio led the inauguration of Spectrum’s 89.82-kilowatt peak (kWp) solar rooftop installations in Takoyatea’s commissary and Aficionado’s main office in Sampaloc, Manila, and Aficionado’s manufacturing plant and warehouse in Meycauayan, Bulacan.

with The Orchard involved a solar rooftop project with a capacity of 99.9 kilowatt-peak (kWp) installed at the latter’s sports and leisure facility in Dasmarinas, Cavite.

Yellen says China’s slowdown is ‘risk factor’ for US economy

By Christopher Condon

TREASURY Secretary Janet

Yellen called China’s economic woes a “risk factor” for the US, but one that doesn’t significantly dent her optimism for the American economy. “China’s slowdown will have the largest impact on its Asian neighbors, but there will be some spillovers to the United States,” Yellen told reporters following a speech in Las Vegas, where she’s touting the economic policy accomplishments of the Biden administration.

“That said, I feel very good about US prospects overall. Let’s call that a risk,” she said, referring to China.

For the US, she said, “we’re seeing a slowdown in growth, but growth that remains healthy, a job market that is

very strong and inflation that’s coming down.”

Yellen’s comments come days after President Joe Biden blasted China’s economic problems as a “ticking time bomb” and referred to Communist Party leaders as “bad folks.” Speaking at a political fundraiser on August 11, Biden said China was in “trouble” because its growth had slowed and due to its high unemployment rate.

Worries continued to mount this week over the outlook for growth in China. The yuan fell to the weakest level since November after the release of a series of disappointing economic figures. The currency has now tumbled about 5 percent this year, the worst performer in Asia after the yen.

Among the worst readings for the Chinese economy, bank loans slid to

a 14-year low, consumer and producer prices both declined, and exports slid the most since February 2020.

By contrast, Yellen drew attention to the surprising strength of the US labor market despite the Federal Reserve’s most aggressive rate-hiking campaign in decades.

Asked why polls showed most Americans didn’t feel the economy was doing well, Yellen responded by saying their view was much more positive when they’re asked how they are doing personally.

“When Americans are asked about their own personal financial situation, 70 percent or more say they feel very good,” she said. “When they’re asked about the economy overall, they have weaker views.”

In an interview with CNN later on

Explosion at a gas station in Russia’s Dagestan kills 30 and injures 105

MOSCOW—A massive explosion at a gas station in Russia’s southern republic of Dagestan killed 30 people and injured scores more, Russian officials said Tuesday.

Some of those injured will be airlifted to Moscow for treatment, according to the report.

Russian authorities have begun a criminal investigation.

Monday, Yellen also commented on the continuing impact of the Russia’s war in Ukraine on the global and US economies. She said Russia’s recent decision to withdraw from an agreement to allow Ukrainian grain to exit the Black Sea was raising world food prices and hurting the poorest countries the most.

She also noted that Russia was suffering from the war, as well.

“The ruble has declined in value, which is a reflection of the fact that our program of sanctions with our allies, and the war, is causing a drain on the Russian economy,” she said.

Russia’s central bank called an extraordinary meeting set for Tuesday after the ruble crashed through the level of 100 to the dollar for the first time since March 2022. Bloomberg News

Kim Jong Un orders sharp increase in missile production, days before US-South Korea drills

By Hyung-Jin Kim

The Associated Press

SEOUL, South Korea—North Korean leader Kim Jong Un again toured major munitions factories and ordered a drastic increase in production of missiles and other weapons, state media said Monday, as the South Korean and US militaries announced

they will begin major drills next week to hone their joint capability against the North’s evolving nuclear threats.

Kim’s push to produce more weapons also comes as US officials believe Russia’s defense minister recently talked with North Korea about selling more weapons to Russia for its war with Ukraine.

The Korean Central News Agency said Kim

visited factories producing tactical missiles, mobile launch platforms, armored vehicles and artillery shells on Friday and Saturday. He visited a spate of other munitions factories in early August.

During a stop at the missile factory, Kim set a goal to “drastically boost” production capacity so the facility can mass-produce missiles to meet the needs of front-line

military units, KCNA said.

“The qualitative level of war preparations depends on the development of the munitions industry and the factory bears a very important responsibility in speeding up the war preparations of the (North) Korean People’s Army,” Kim said, according to the report.

Visiting other factories, Kim called for building more modern missile launch trucks and said there is an urgent need to boost production of large-caliber multiple rocket launcher shells “at an exponential rate,” the report said. Kim also drove a new utility combat armored vehicle, KCNA said.

Kim has been focusing on enlarging his nuclear and missile arsenals since his highstakes diplomacy with then-President Donald Trump collapsed in 2019. Since the start of 2022, Kim’s military has conducted more than 100 missile tests, many of them in the name of warning the US and South Korea over their expansion of joint military training exercises. Many experts say Kim eventually aims to use his modernized weapons arsenals to wrest US concessions, such as sanctions relief, whenever diplomacy resumes with Washington.

North Korea could perform more weapons tests soon as the US and South Korea are set to start their summer military exercises next Monday. North Korea calls the US-South Korean training a practice for an invasion. The allies say they have no intentions of attacking North Korea.

KCNA quoted Kim as saying North Korea must have “an overwhelming military force and get fully prepared for coping with any war” with the power to “surely annihilate” its enemies.

The US-South Korean drills, called Ulchi Freedom Shield, is a computer-simulated command post exercise. During this year’s exercise that is scheduled to run through until August 31, the allies said they’ll also conduct large-scale field training events, which will reportedly be the largest of their kind in recent years.

South Korea’s Joint Chiefs of Staff spokesperson, Lee Sung Joon, told reporters that this year’s UFS drills are aimed at further strengthening the allies’ response capabilities by performing exercises based on scenarios that reflect North Korea’s advancing nuclear and missile capabilities and other regional security situations. Col. Isaac L. Taylor, a spokesperson for the US military, told the same news conference that the drills are designed to be “a tough and realistic exercise.”

Earlier this month, the White House said US intelligence officials had determined that Russian Defense Minister Sergei Shoigu spoke to North Korean officials during a visit to Pyongyang last month about increasing the sale of munitions to Moscow for its war in Ukraine.

North Korea has denied American claims that it shipped artillery shells and ammunition to Russia. But the North has publicly supported Russia over the war and hinted at sending workers to help rebuild Russian-occupied territories in Ukraine.

Kim has been trying to beef up ties with China and Russia in the face of US-led pressure campaigns over its nuclear program and pandemic-related economic difficulties.

Russia’s Emergency Ministry reported Tuesday that a total of 105 people were injured, and 30 of them died.

Three of those killed were children, Dagestan’s governor Sergei Melikov said.

The explosion took place Monday night on the outskirts of Makhachkala, the region’s capital. A fire started at a car repair shop and spread to a nearby gas station, prompting a blast, Russia’s state news agency RIA Novosti reported, citing the country’s Emergency Ministry. The subsequent fire raged on the area of 600 square meters (yards), the report said.

Families of the victims will receive 1 million rubles (about $10,000) each, Dagestan’s authorities said, and those injured—200,000-400,000 rubles (about $2,000-$4,000).

Tuesday in Dagestan has been declared the day of mourning.

Across Russia, in western Siberia, another blast killed two people and wounded five more on Monday night. The explosion occurred at an oil mine in the Khanty-Mansiysk region late in the evening, local authorities said. AP

Hawaii’s governor warns that scores more people could be found dead following wildfires on Maui

By Claire Rush, Jennifer Sinco Kelleher & Christopher Weber

The Associated Press

LAHAINA, Hawaii—Hawaii’s governor warned that scores more people could be found dead following the Maui wildfires as search crews go through neighborhoods where the flames galloped as fast as a mile a minute and firefighters struggled to contain the inferno with what some officials complained was a limited water supply.

The blazes that consumed most of the historic town of Lahaina are already the deadliest in the US in more than a century, with a death toll of at least 96. The cause was under investigation.

“We are prepared for many tragic stories,”

Gov. Josh Green told “CBS Mornings” in a recorded interview that aired Monday. “They will find 10 to 20 people per day, probably, until they finish. And it’s probably going to take 10 days. It’s impossible to guess, really.”

As cellphone service has slowly been restored, the number of people missing dropped to about 1,300 from over 2,000, Green said.

Twenty cadaver dogs and dozens of searchers are making their way through blocks reduced to ash.

“Right now, they’re going street by street, block by block, between cars, and soon they’ll start to enter buildings,” Jeff Hickman, director of public affairs for the Hawaii Department of Defense, said Monday on NBC’s “Today.”

Meanwhile, some state officials say there is a shortage of water available for firefighters, and they blame a recent ruling by an environmental court judge. It’s part of a long-running battle between environmentalists and private companies over the decades long practice of diverting water from East Maui streams that started during Hawaii’s sugar plantation past. Elsewhere, evacuees were expected to begin moving into hotels Monday evening. Green said on Sunday that 500 hotel rooms were being made available for displaced locals and an additional 500 rooms will be set aside for workers from the Federal Emergency Management Agency who are aiding in the recovery.

In addition, FEMA has started to provide $700 to displaced residents to cover the cost of food, water, first aid and medical supplies, agency administrator Deanne Criswell said Monday. The money is in addition to whatever amount residents qualify for to cover the loss of homes and personal property.

“We’re not taking anything off the table, and we’re going to be very creative in how we use our authorities to help build communities and help people find a place to stay for the longer term,” Criswell said. More than 3,000 people have registered for federal assistance, according to FEMA, and that number was expected to grow.

On the water-supply issue, the deputy head of the US Fire Administration, Tonya Hoover, said she did not have details on the island’s current water supply. She said the head of her agency has been meeting with firefighters, including one who was badly hurt and hospitalized.

The Biden administration is seeking $12 billion more for the government’s disaster relief fund as part of its supplemental funding request to Congress.

Authorities had required anyone traveling into the disaster areas to get a police-issued placard, but that was suspended Monday due to overwhelming demand. Lahaina resident Kevin Eliason said when he was turned away, the line of cars with people waiting to get a placard had grown to at least 3 miles (4.8 km) long.

“It’s a joke,” Eliason said. “It’s just crazy. They didn’t expect, probably, tens of thousands of people to show up there.”

The blaze that swept into centuries-old Lahaina last week destroyed nearly every building in the town of 13,000. That fire has been 85 percent contained, according to the county. Another blaze known as the Upcountry fire has been 60 percent contained, officials said.

“There’s very little left there,” Green said of Lahaina in a video update Sunday, adding that “an estimated value of $5.6 billion has gone away.”

Even where the fire has retreated, authorities have warned that toxic byproducts may remain, including in drinking water, after the flames spewed poisonous fumes. And many people simply have no home to return to.

The Red Cross said 575 evacuees were spread across five shelters on Monday, including the War Memorial Gymnasium in Wailuku. Among the visitors was Oprah Winfrey, who told Hawaii News Now that she delivered personal hygiene products, towels and water in recent days.

Winfrey, a part-time Maui resident, warned that news crews will eventually depart from the destruction and the world will move on. But she said that “we’re all still going to be here trying to figure out what is the best way to rebuild.... I will be here for the long haul, doing what I can.”

As firefighters battled the flames, a flurry of court actions were lodged last week over access to water. On Wednesday morning, Judge Jeffrey Crabtree issued an order temporarily suspending water caps he imposed for 48 hours. He also authorized water distribution as requested by Maui fire officials, the county or the state until further notice if the judge could not be reached.

But that wasn’t enough for the state attorney general’s office, which later filed a petition with the state Supreme Court blaming Crabtree for a lack of water for firefighting. The state asked the court not to let Crabtree alter the amount of water to be diverted or to put a hold on his restrictions until the petition is resolved.

The judge “substituted his judgment for that of the agency,” the petition said, referring to the Board of Land and Natural Resources. “As a result, there was not enough permitted water to...battle the wildfires.”

Wayne Tanaka, executive director of the Sierra Club, said Monday that the attorney general’s office exaggerated the effect of water diversion caps on firefighting.

“It’s a shameless exploitation of this horrible tragedy,” he said. “The central Maui reservoirs are of no use to west Maui, where most of the devastation is ongoing.”

He said he’s concerned the state is out to help a private company monopolize water. Kelleher reported from Honolulu, and Weber from Los Angeles. Associated Press journalists Haven Daley in Kalapua, Hawaii; Beatrice Dupuy in New York; and Josh Boak in Washington contributed.

The World

South Korea’s Yoon calls for strong security cooperation with US, Japan

incoming missiles. In June, their defense ministers said they recognized efforts to activate such a data-sharing mechanism before the end of the year.

Worries about North Korea’s nuclear program has grown since the North openly threatened to use nuclear weapons in conflicts with its rivals and conducted about 100 missile tests since the start of last year. Many of the missiles tested were nuclear-capable weapons that place both South Korea and Japan within striking distance and could potentially reach the US mainland. South Korea and Japan together host about 80,000 US troops.

By Hyung-Jin Kim

The Associated Press

SEOUL, South Korea—South Korea’s president called for deeper security cooperation with the US and Japan to address North Korean nuclear threats, saying Tuesday that his upcoming summit with the US and Japanese leaders at Camp David will “set a new milestone in trilateral cooperation.”

It will be the first time for the leaders of the three countries to gather entirely for a trilateral summit, rather than on the sidelines of international meetings. This suggests they are serious about boosting their ties in the face of North Korea’s advancing nuclear arsenal and China’s increasingly assertive foreign policy.

In their summit Friday at the US presidential retreat in Maryland, President Joe Biden, South Korean President Yoon Suk Yeol, and Japanese Prime Minister Fumio Kishida are expected to announce plans for expanded military cooperation on ballistic missile defenses and technology development, according to two senior Biden administration officials.

“The ROK (Republic of Korea)US-Japan summit to be held at Camp David in three days will set a new milestone in trilateral cooperation contributing to peace and prosperity on the Korean Peninsula and in the Indo-Pacific region,” Yoon said in a televised speech in Seoul on Tuesday.

Yoon’s speech marked the 78th anniversary of Korea’s liberation from Japan’s 35-year colonial rule in 1945. Past South Korean presidents commonly used Liberation

Day speeches to ask Japan to make fresh apologies over its colonial wrongdoing. But Yoon, a conservative who has pushed to resolve the historical grievance as a way to boost Seoul-Washington-Tokyo cooperation, didn’t do so and rather explained again why improved ties with Japan were needed.

Yoon said the seven rear bases provided to the US-led UN Command by Japan serve as “the greatest deterrent” that keeps North Korea from invading South Korea. He said a North Korean invasion would trigger an immediate, automatic intervention by the U.N. Command and that the bases in Japan have the necessary land, sea, and air capabilities.

“As partners that cooperate on security and the economy, Korea and Japan will be able to jointly contribute to peace and prosperity across the globe while collaborating and exchanging in a futureoriented manner,” Yoon said.

Yoon said the significance of Seoul-Washington-Tokyo security cooperation is growing on the Korean Peninsula and in the region.

“In order to fundamentally block North Korea’s nuclear and missile threats, the Republic of Korea, the United States and Japan must closely cooperate on reconnaissance assets and share North Korea’s nuclear weapons and missiles data in real time,” Yoon said.

When they met at the margins of a regional conference in Cambodia in November, Yoon, Biden and Kishida said they intended to share North Korea missile warning data in real time to improve each country’s ability to detect and assess the threat posed by

Former Malaysian PM Muhyiddin Yassin acquitted of 4 graft charges

By Eileen Ng

The Associated Press

KUALA LUMPUR, Malay -

sia—Former Malaysian Prime Minister Muhyiddin

Yassin was acquitted by the high court of four corruption charges on Tuesday, just days after his opposition bloc expanded its influence in local elections.

Muhyiddin, 76, said the high court ruled in favor of his application to overturn four charges of abusing his power to obtain 232.5 million ringgit ($50 million) in bribes for his Bersatu party. He was charged in March and still faces three charges of money laundering involving 200 million ringgit ($43 million).

“From the start, I have said that these are politically motivated charges. I have not done anything wrong ... and today it has been proven that these were false allegations,” he told reporters outside the courthouse. His lawyer, Hisyam Teh Poh Teik, said the court agreed with the de -

In response to North Korea’s torrid run of missile tests, the United States and South Korea have expanded their military drills and resuming some trilateral training involving Japan. That has infuriated North Korea, which views US-led military exercises on and near the Korean Peninsula as an invasion rehearsal. North Korean officials say US moves to bolster military cooperation with South Korea and Japan are pushing the North to reinforce its own military capability.

During his recent tour of munitions factories, North Korean leader Kim Jong Un ordered officials to drastically increase production of missiles and build “an overwhelming military force” to “surely annihilate” its enemies, state media reported Monday.

South Korea, the US and Japan have held a trilateral leaders’ meeting a total of 12 times since they had their first such a summit in 1994, but all of them were held on the sidelines of international conferences, according to South Korea’s presidential office.

This week’s first stand-alone trilateral summit at Camp David comes as ties between Seoul and Tokyo have eased significantly in recent months. In March, Yoon took a major step toward resolving bilateral wrangling over colonial-era Korean forced laborers, despite vehement opposition at home by some victims and his liberal rivals. Yoon has argued Seoul and Tokyo share challenges like the intensifying US-China strategic rivalry and global supply chain problems as well as the North Korean nuclear program.

The Associated Press writer Aam

er Madhani in Washington contributed to this report.

party, further expanded its influence among the country’s majority Malays in an outcome that deepened Malaysia’s ethnic polarization.

fense contention that the charges were defective legally and lacked details on how the offenses were committed. With the collapse of the four main charges, Teh said they were confident the other three money-laundering charges would not stand. The graft charges revolved around the award of contracts to selected ethnic Malay contractors allegedly in return for bribes, and approving an appeal by a business tycoon over the cancellation of his tax exemption.

Prosecutors said they would appeal the court’s decision.

Muhyiddin is the second former leader charged with crimes after exPrime Minister Najib Razak, who received multiple charges after losing a 2018 general election. Najib began a 12-year prison term last year after losing his final appeal in the first of several graft trials.

Muhyiddin’s legal victory came just days after fiercely contested state elections returned the status quo. But his Malay nationalist Perikatan Nasional (PN) bloc, which includes a conservative Islamic

Prime Minister Anwar Ibrahim has rejected accusations that the charges against Muhyiddin were politically motivated and noted the investigations were carried out independently by the anti-graft agency.

After taking power in November,

Anwar ordered a review of government projects approved by past administrations including Muhyiddin’s government from March 2020 until August 2021. Anwar has said many of the projects were overpriced and awarded without tenders.

Two senior members of Muhyiddin’s Bersatu party were also charged with graft. The anti-graft agency also froze Bersatu’s party accounts.

Anwar and Muhyiddin fought for the premiership after November’s general election produced a hung parliament. Muhyiddin’s PN bloc received stronger-than-expected support from Malays, who account for two-thirds of Malaysia’s 33 million people. The king later appointed Anwar as prime minister after he formed a unity government with former rivals.

SOUTH Korean President Yoon Suk Yeol delivers a speech during a ceremony to celebrate the 78th anniversary of the Korean Liberation Day from Japanese colonial rule in 1945, in Seoul, South Korea on Tuesday, August 15, 2023. AP/LEE JIN-MAN

Agriculture as linchpin of PHL economic growth

AgricuLture continued to be a laggard among the major economic sectors, based on the National income Accounts (NiA) of the Philippines for the second quarter. According to the Philippine Statistics Authority, which publishes the NiA, Agriculture, forestry, fishing (AFF) grew by a measly 0.2 percent in April to June, lower than the 2.1 percent of industry and the 6 percent of Services. Minus forestry, agriculture and fisheries output even contracted by 1.3 percent during the period. (See, “Agri-fisheries output falls by 1.3 percent in Q2–PSA,” in the BusinessMirror, August 10, 2023).

The contraction in the value of agri-fisheries output during the period was driven by the fisheries subsector, which recorded a 14-percent decline. All other subsectors—crops, livestock and poultry—recorded increments in value at constant 2018 prices. Crop prices increased by an average of 1.2 percent, livestock by 0.7 percent and poultry by 1.5 percent. In terms of volume, the production of almost all marine species registered declines during the second quarter, based on PSA data. Of the marine species monitored by the PSA in the second quarter, only tiger prawn (sugpo) and roundscad (galunggong) posted increases of 0.9 percent and 30.1 percent, respectively. The output of tilapia and milkfish or bangus, which are some of the most popular fish species consumed by Filipinos, contracted by 4.6 percent and 19.1 percent, respectively. Also, the output of corn, sugarcane and popular vegetables like cabbage, eggplant, and mongo were lower, based on PSA data. Among the crops monitored, sugarcane recorded the steepest decline at 11.3 percent while corn—the second most important crop—contracted by 0.8 percent. The production of chicken eggs, the cheapest source of protein, fell by 2.1 percent, while hog output grew by only 1 percent.

Because of the dismal performance of agri-fisheries, AFF contributed a measly 0.01 percentage point to the country’s production of goods and services in the second quarter. This contribution, just like the 4.3 percent GDP posted during the period, disappointed not only experts and economists, but also government officials. (See, “Imee, economist see full-year growth still possible, but much work must be done,” in the BusinessMirror, August 11, 2023)

Unfortunately, agriculture has been a laggard among major economic sectors for years. The immediate reversal of this trend should be of paramount importance to economic managers if they want to temper spikes in food prices, which have been largely responsible for the jump in inflation rates in the second half of 2022. Certain food items like pork and onions almost became inaccessible to the poor, especially during the holidays.

The Marcos administration has set aside more funds for the agrifisheries sector next year, and programs that seek to increase productivity have been rolled out. Mechanisms such as the Rice Competitiveness Enhancement Fund as well as the trust fund for the coconut sector are in place to assist farmers. The state has the necessary resources at its disposal to enable the agriculture sector to produce more food and contribute significantly to the country’s GDP.

Amid global headwinds and a growing protectionist stance by some food exporting countries, it would do well for the Marcos administration to boost agricultural production to strengthen the country’s food security. These programs in place can potentially make agriculture the linchpin of the country’s economic growth.

Since 2005 ✝

Antonio L. Cabangon Chua Founder

China’s $138 billion shadow bank spirals at terrible time for Xi

By Bloomberg News

Fou NDeD in 1995 as a lumber business, Zhongzhi enterprise group co. grew to become a financial conglomerate with more than 1 trillion yuan ($138 billion) under management. Now it risks becoming the latest chinese financial giant to fail.

The under-the-radar group, often dubbed China’s Blackstone by local media, operates at the heart of China’s once high-flying shadow banking market, which regulators have sought to corral since 2017. The firm has now raised alarm bells across Chinese markets after affiliated firms missed payments on some investment products.

Investors aren’t the only ones spooked by the implications of its possible demise. Chinese authorities have already set up a task force to study any possible contagion, with the banking regulator examining risks at Zhongzhi, according to people familiar with the matter.

Zhongzhi is one of the last freewheeling private wealth managers that Beijing has been trying to rein in to minimize risks for the hundreds of thousands of retail clients who bought these high-yield products assuming they were safe. The timing couldn’t be worse for Xi Jinping’s government, as China is already struggling with a weak economy and fall out from the moribund property market that’s threatening to push giants like Country Garden Holdings Co. into default.

Zhongrong International Trust, part owned by Zhongzhi, is among the biggest firms in the country’s $2.9 trillion trust industry, which pools savings from wealthy households and corporate clients to invest

in and make loans to real estate, stocks, bonds and commodities. The firm, which has missed at least two payments, has 270 products totaling 39.5 billion yuan due this year, according to data provider Use Trust.

This is “the one that everyone knew was going to blow up,” said Jason Hsu, chief investment officer at Rayliant Global Advisors. Zhongrong’s troubles are likely tied to its sales of investment products linked to real estate, he said.

Zhongzhi’s rise and potential downfall closely mirror China’s trajectory over the past three decades.

The once booming economy is now mired in difficulties after a crackdown on private enterprise, including the nation’s celebrated tech firms, shocked investors. Consumer sentiment remains in the doldrums after years of stringent Covid restrictions.

It’s not the only firm in difficulties. A total of 106 trust products worth 44 billion yuan defaulted this year through July 31, according to Use Trust. Real estate investments accounted for 74 percent of the defaults by value. Last year also saw billions of dollars in defaults.

Zhongzhi is the second-largest shareholder of Zhongrong Trust, holding about 33 percent. The conglomerate also holds stakes in five other licensed financial firms, including a mutual fund manager and two insurers, and is invested in five

By Kate Brumback | The Associated Press

AtLANtA—A grand jury in georgia that has been investigating former President Donald trump over his efforts to undo the 2020 election results in that state returned at least one indictment Monday, though it was not immediately clear against whom.

There was no immediate confirmation from Fulton County prosecutors about who was charged and for what, but the existence of indictments became apparent around 9 p.m. when the judge who for months has been presiding over the grand jury investigation was presented by clerk’s office officials with a set of papers in a courtroom packed with reporters anticipating news.

as to when an indictment might be released.

The grand jury heard from witnesses into the evening Monday in the election subversion investigation into Donald Trump, a long day of testimony punctuated by the mysterious and brief appearance on a county website of a list of criminal charges against the former president that prosecutors later disavowed.

asset management companies and four wealth units, according to its website. It also controls listed companies and owns 4.5 billion tons of coal reserves among its industrial operations.

The founder

T HE firm’s founder, Xie Zhikun, died of a heart attack in 2021, just as pandemic lockdowns slowed China’s economy and sparked volatile markets. While his replacement, Liu Yang, vowed to keep the company’s focus on industrial and asset management businesses, the economic slowdown and the property-market slump have weighed on its operations.

Xie made a fortune in the 1980s through a printing factory, before expanding into distressed assets including real estate, China Real Estate Business reported August 12. Deals in Beijing alone in recent years by the firm include the 3.3 billion yuan office tower, a 1.7 billion yuan project managed by Shimao Group Holdings Ltd., and an office building that was once the headquarters of Jia Yueting’s conglomerate, according to the report.

Many of those projects were left in trouble amid the property market slump and following Xie’s death.

Even as rival firms sought to pare risks, Zhongzhi and its affiliates, especially Zhongrong, provided financing to troubled developers, snapping up assets from companies including Kaisa Group Holdings Ltd. and Shenzhen Wongtee International Enterprise Co. Zhongrong issued more than 10 trust products for the now defaulted China Evergrande Group between 2014 and 2016. The percentage of real estate trust assets

at Zhongrong more than doubled to 18 percent in 2020 from 6.6 percent in 2017, according to the newspaper. Those real estate investments have soured after the expected property turnaround failed to materialize. China’s home sales tumbled the most in a year last month, curbing revenue for developers like Country Garden, whose stock and bonds cratered after it missed coupon payments to bondholders this month.

Unverified letter

ZHOnGROnG has disclosed little to the public about its situation, though it has said it’s aware of forged letters being shared on social media claiming the company is no longer able to operate. The firm has reported the letters to authorities, according to a statement on its website.

In one unverified letter being circulated, a wealth manager at Zhongzhi apologized to his clients, saying the group’s wealth arms have delayed payments on all products since mid July. The incident involves more than 150,000 clients with outstanding investments totaling 230 billion yuan, according to the letter. nearly half of the funds raised by Zhongrong were funneled to its parent or affiliated units, one of the people familiar with the task force said.

Beijing’s long battle against the excesses of the trust sector may now be coming to a head, analysts say.

“The window guidance has been discouraging any and everyone who was involved in kind of a trust business, wealth business, in terms of selling real estate backed bonds,” Hsu said. “Maybe the last of this ugly episode has come to an end.” With assistance from Qingqi She / Bloomberg

Parañaque, Metro Manila

MEMBER OF

Inside the courthouse, cameras offered live feeds of the movements of the judge and other county officials, but no one offered clarity

Prosecutors in Fulton County presented evidence to the grand jury as they pushed toward a likely indictment, summoning multiple

former state officials including the ex-lieutenant governor as witnesses.

But the process hit an unexpected snag in the middle of the day, when Reuters reported on a document listing criminal charges to be brought against Trump, including state racketeering counts, conspiracy to commit false statements and solicitation of violation of oath by a public officer.

Reuters, which later published a copy of the document, said the filing was taken down quickly. A spokesperson for Fulton County District Attorney Fani Willis said the report of charges being filed was “inaccurate,” but declined to comment further on a kerfuffle that the Trump legal team rapidly jumped on to attack the integrity of the investigation.

The office of the Fulton County courts clerk later released a statement that seemed to only raise more questions, calling the posted

document “fictitious,” but failing to explain how it got on the court’s website. The clerk’s office said documents without official case numbers “are not considered official filings and should not be treated as such.” But the document that appeared online did have a case number on it.

Asked about the “fictitious” document Monday evening, the courts clerk, Che Alexander, said: “I mean, I don’t know what else to say, like, grace … I don’t know, I haven’t seen an indictment, right, so I don’t have anything.” On the question of whether the website had been hacked, she said, “I can’t speak to that.”

Trump and his allies, who have characterized the investigation as politically motivated, immediately seized on the apparent error to claim that the process was rigged. Trump’s campaign aimed to fundraise off it, See “Indictment,” A11

Ambassador

The end of the system of international law is near Of dangling wires, substandard products and The Big One: Coincidental or providential?

the Philippine authorities refused to cooperate with the ICC. This is to intimidate the country’s former leader Rodrigo Duterte, who put national issues above the interests of the West, and to teach the country’s leadership a lesson.

SENSE

TH e expression “new world order” is in fashion again today. Recently, there has been a situation when Western countries are trying to replace international law with their own “rules” and thus trying to prevent the formation of a polycentric world, to regain their privileged positions, to impose on others standards of behavior based on a narrow Western interpretation of liberalism. In these endeavors, the West is less and less aware of international law and more and more frequently and obsessively talks about order based on rules. But who has seen these rules, what are they about?

The purpose of the concept of such an “order” is obvious: to revise the norms of international law, which no longer suit the West, and to replace it with “rules” adapted to its own selfish schemes, which are formulated depending on political expediency. This leads to the erosion of the central role of the UN and to the sliding of the world community into a state of legal chaos.

Increasingly, instead of equal collective work, closed formats outside legitimate multilateral frameworks are created, and approaches agreed upon by a select few are then declared “multilateral agreements.” A vivid example of this is the Summit for Democracy, which is seen as an alternative to the UN, but unlike the UN, only selected countries are invited to participate.

Recently, it has become evident that many international organizations are being used as repressive instruments of the West that make politically motivated decisions. The International Criminal Court has been most notable in its ambivalent approaches. According to the statute, the ICC has jurisdiction over natural persons and specializes in crimes against humanity and war crimes.

At the same time, the ICC investigates only those cases that are favorable to its handlers. Thus, the ICC does not abandon its attempts to investigate crimes against humanity committed during the socalled “war on drugs” in the Philippines. This decision was made despite the fact that back in 2019,

It is noteworthy that the International Criminal Court is still ignoring the appeals of the inhabitants of Donbas, but has readily launched an investigation into Kyiv’s accusations against Russia because these efforts were supported in the e U and the United States. The scandalous story of the so-called arrest warrant for the Russian president issued by the International Criminal Court is instructive for the entire international community. According to former Austrian Foreign Minister Karin Kneissl, “The court came under pressure from Washington and many other e U countries. This only demonstrates how politicized the ICC is.”

In the 20 years of its existence, the pseudo-international court in The Hague has primarily prosecuted African leaders, spending more than a billion dollars for this purpose. Many African Union states, convinced of the ICC’s bias, denounced the Rome Statute. In its current form, the International Criminal Court is nothing but a repressive tool in the hands of the West. The ICC’s only proudest act was in 2020, when it attempted to investigate the US military’s actions in Afghanistan. But after US threats, the ICC refused to investigate US war crimes against humanity.

Therefore, when reading publications “on rule-based order” one should remember that there is no set of “rules.” No one has developed them either by consensus or by voting. It is an absolutely illusory concept invented by the West to cover up its attempts to dominate on the basis of its own exclusivity, which they themselves proclaimed. This is why the concept of a rules-based world order is supported by a minority in our world.

The countries of Asia and the global South are indirectly capable of creating a balance between the warring parties. They do not need to create any structure for this; they do not need to adhere to one ideology. They simply need to be against new wars, and there is no need for new treaties and alliances, which always impose restrictions on their members. It is necessary to unite and join the efforts of States advocating the restoration of universal respect for international law and the strengthening of its role as the foundation of international relations.

Gary Bauzon

Last July 31, my wife Evelyn expressed on a Facebook post her frustration and concern over the dangling wires and cables from the power pylons all over Metro Manila.

She said: “One of the things that perturbs me is: Why is it that in Metro Manila, Philippines nobody is complaining about the crisscrossing, dangerous, disconcerted, dirty-looking, dangling Meralco/PLDT/Cable wires that hover over the streets? Are the people blind or do they deserve this kind of shameful environment?”

Then on August 3, an accident waiting to happen showed how dangerous these dangling wires are when seven power pylons in Binondo, Manila collapsed, injuring three people and damaging a number of vehicles.   Coincidental or providential? We can’t tell. Maybe God is telling us to do something about this, as mentioned by my wife, before a repeat of such accident happens, and even worse, on a bigger scale.   Authorities are still investigating

Indictment . . .

continued from A10

sending out an e-mail with the sincedeleted document embedded.

“The Grand Jury testimony has not even FINISHeD —but it’s clear the District Attorney has already decided how this case will end,” Trump wrote in the e-mail, which included links to give money to his campaign.

“This is an absolute DISGRACe

Trump’s legal team said it was not a “simple administrative mistake.” Rather it was “emblematic of the pervasive and glaring constitutional violations which have plagued this case from its very inception,” said lawyers Drew Findling, Jennifer Little and Marissa Goldberg.

It was unclear why the list was posted while grand jurors were still hearing from witnesses in the sprawling investigation into actions taken by Trump and others in their efforts to overturn his narrow loss in Georgia to Democrat Joe Biden. It was also unclear whether grand jurors were aware that the filing was posted online. They still would need to vote on charges, so the counts listed in the posting may or may not ultimately be brought against Trump.

Legal experts said it was likely a clerical error listing charges prosecutors were planning to ask the

the incident, but many theories on why the incident happened are being proposed. Some people think that the weight of the overhanging wires and cables has become too heavy for the power pylons. Some people blamed the strong winds, while others speculated that the posts have seen better days and should have been replaced a long time ago.

For me, another possibility is that the pylons probably did not meet the required quality standards to be able to carry such loads and stress.

As many people know, substandard products, especially construction materials, have caused accidents on numerous occasions, and are therefore hazardous to life and property.

This is why we at the Federation of Philippine Industries (FPI) have

grand jury to vote on. Prosecutors draft indictments and present them to the grand jury, which ultimately decides whether to hand charges down.

“I think this tells us what they are planning to present to the grand jury, and the grand jury could say no,” said Clark Cunningham, a Georgia State University law professor. He said while the error will give Trump’s legal team fodder to complain, “it will not scuttle the case.”

“Will his lawyers make a lot of noise about it? Yes, they will. Will Mr. Trump make a lot of noise about it? Yes, he will. I’m sure there will have to be an explanation for it,” Cunningham said.

One person who said he’d been called to testify to the grand jury suggested on Monday that the process may be moving more quickly than anticipated. George Chidi, an independent journalist, had tweeted previously that he was asked to testify on Tuesday, but later posted he was going to court on Monday, adding: “They’re moving faster than they thought.”

Chidi wrote in The Intercept last month that he barged “into a semiclandestine meeting of Republicans pretending to be Georgia’s official electors in December 2020.” He described being thrown out of the room just after entering, told that it was an “education meeting.”

been aggressively fighting for strict enforcement of our national standards on critical products, primarily to safeguard the welfare of the consumers and the public, and secondarily to protect industries and their workers from cheap but substandard products that are flooding the market.

I firmly believe that engaging in the importation, production and peddling of substandard products is the worst form of smuggling. The traders behind these illicit acts are not only cheating the government of rightful revenues by reducing the standard and quality of their products to lower their price. Worse, they are cheating the consumers and endangering the lives and properties of the people. This is also glaringly true in the case of substandard medicines that are relying on the placebo effect; they could easily aggravate the condition of the patients.   This is why, just like in the case of dangling cables, all sectors—the government, the private sector, and the people—should work together to end this menace to society.

Climate change continues to strengthen storms and super typhoons are a threat to substandard buildings. We have also seen that when a strong earthquake strikes, many poorly constructed buildings

Former lieutenant governor Geoff Duncan, who over the weekend said he’d also been asked to testify Tuesday, instead appeared before the grand jury Monday. He told reporters outside the courthouse that the 2020 election had been “fair and legal” and said now was the “opportunity to get the real story out.”

The document listing criminal charges filed midday Monday listed more than a dozen felony counts, including Georgia’s Racketeer Influenced and Corrupt Organizations, or RICO. Willis has long been expected to levy that charge against Trump and his associates, accusing them of participating in a wide-ranging conspiracy to overturn the state’s 2020 election results.

Two counts—including solicitation of violation of oath by a public officer—listed the date of offense as January 2, 2021, which was when Trump during a phone call with Georgia Secretary of State Brad Raffensperger said he wanted to “find” enough votes to overturn his loss in the state. Other counts list the date of offense as September 17, 2021, which is the same day Trump sent Raffensperger a message urging him to investigate “large scale voter fraud,” decertify the election and “announce the true winner” if the investigation found the fraud.

Former Democratic state Sen. Jen

and structures suffer the “pancake mode” of collapse. That’s the danger of using substandard materials in buildings.

In the Philippines, experts have been warning that The Big One is imminent. I’ve been saying this for years, but still I want to highlight the importance of ensuring quality standards for construction materials amid the many earthquake drills that are being conducted: “Duck, Cover, and Hold. But Will the Building Hold?”

We have seen what happened in Turkey. We have seen what happened to the Ruby Tower. We have seen how a 7.7 magnitude earthquake in 1990 toppled the Baguio Park Hotel. Do we want history to repeat itself when The Big One comes?

We at the FPI and other wellmeaning groups have been doing our work, helping the government’s campaign against sub-standard products to spare lives and property from this impending disaster.

With God’s help, many lives will be saved if we succeed in making sure that we are strictly adhering to the quality standards set by the government with the help of experts from the academe and industries.

After the fact, this should not be a question anymore of: is it coincidental or providential?

Jordan, who had been subpoenaed to testify before the grand jury, said as she left the Fulton County courthouse late Monday morning that she had been questioned for about 40 minutes. Former Democratic state Rep. Bee Nguyen also confirmed that she testified. News outlets reported that Gabriel Sterling, a top official in the secretary of state’s office, was seen arriving at the courthouse earlier Monday.

“No individual is above the law, and I will continue to fully cooperate with any legal proceedings seeking the truth and protecting our democracy,” Nguyen said in a statement. Nguyen and Jordan both attended legislative hearings in December 2020 during which former New York mayor and Trump attorney Rudy Giuliani and others made false claims of widespread election fraud in Georgia. Trump lawyer John e a stman also appeared during at least one of those hearings and said the election had not been held in compliance with Georgia law and that lawmakers should appoint a new slate of electors.

Sterling and his boss, Georgia Secretary of State Brad Raffensperger—both Republicans—forcefully pushed back against allegations of widespread problems with Georgia’s election. Associated Press reporter Alanna Durkin Richer in Boston and Eric Tucker in Washington contributed to this report.

Young environmental activists prevail in first-of-its-kind climate change trial in Montana

| The Associated Press

By Matthew Brown & Amy Beth Hanson

HELENa, Mont.—Young environmental activists scored what experts described as a ground-breaking legal victory Monday when a Montana judge said state agencies were violating their constitutional right to a clean and healthful environment by allowing fossil fuel development.

The ruling in this first-of-its- kind trial in the US adds to a small number of legal decisions around the world that have established a government duty to protect citizens from climate change. If it stands, the ruling could set an important legal precedent, though experts said the immediate impacts are limited and state officials pledged to seek to overturn the decision on appeal.

District Court Judge Kathy Seeley found the policy the state uses in evaluating requests for fossil fuel permits—which does not allow agencies to look at greenhouse gas emissions—is unconstitutional.

It marks the first time a US court has ruled against a government for violating a constitutional right based

on climate change, said Harvard Law School Professor Richard Lazarus. “To be sure, it is a state court not a federal court and the ruling is based on a state constitution and not the US Constitution, but it is still clearly a major, pathbreaking win for climate plaintiffs,” Lazarus wrote in an e-mail.

The judge rejected the state’s argument that Montana’s emissions are insignificant, saying they were “a substantial factor” in climate change.

Montana is a major producer of coal burned for electricity and has large oil and gas reserves.

every additional ton of GHG [greenhouse gas] emissions exacerbates plaintiffs’ injuries and risks locking in irreversible climate inju-

ries,” Seeley wrote.

However, it’s up to the Montana Legislature to determine how to bring the state’s policies into compliance. That leaves slim chances for prompt changes in a fossil fuelfriendly state where Republicans dominate the statehouse.

Only a few states, including Pennsylvania, Massachusetts and New York, have constitutions with similar environmental protections.

“The ruling really provides nothing beyond emotional support for the many cases seeking to establish a public trust right, human right or a federal constitutional right” to a healthy environment, said James Huffman, dean emeritus at Lewis & Clark Law School in Portland.

State officials had tried to derail the case and prevent it from going to trial through numerous motions to dismiss the lawsuit.

Claire Vlases was 17 years old when she became a plaintiff in the case. Now 20 and working as a ski instructor, she said climate change hangs over every aspect of her life.

“I think a lot of young people feel really helpless, especially when it comes to the future,” Vlases said, adding that she expects Montana lawmakers to respect the state’s constitution and abide by the court’s decision. “Hopefully this is one for history,” she said.

emily Flower, spokesperson for Montana Attorney General Austin Knudsen, decried the ruling as “absurd” and said the office planned to appeal. She criticized Seeley for allowing the plaintiffs to put on what Flower called a “taxpayer-funded publicity stunt.”

“Montanans can’t be blamed for changing the climate,” she said. “Their same legal theory has been thrown out of federal court and

courts in more than a dozen states. It should have been here as well.”

Attorneys for the 16 plaintiffs, ranging in age from 5 to 22, presented evidence during the two-week trial that increasing carbon dioxide emissions are driving hotter temperatures, more drought and wildfires and decreased snowpack.

The plaintiffs said those changes were harming their mental and physical health, with wildfire smoke choking the air they breathe and drought drying out rivers that sustain agriculture, fish, wildlife and recreation. Native Americans testifying for the plaintiffs said climate change affects their ceremonies and traditional food sources.

The state argued that even if Montana completely stopped producing C02, it would have no effect on a global scale because states and countries around the world contribute to the amount of C02 in the atmosphere. A remedy has to offer relief, the state said, or it’s not a remedy at all.

Seeley said the state’s attorneys failed to give a compelling reason for

why they were not evaluating greenhouse gas emissions. She rejected the notion that Montana’s greenhouse gas emissions are insignificant and noted that renewable power is “technically feasible and economically beneficial,” citing testimony from the trial indicating Montana could replace 80 percent of existing fossil fuel energy by 2030. Since its founding, Our Children’s Trust has raised more than $20 million to press its lawsuits in state and federal court. No previous attempts reached trial.

Carbon dioxide, which is released when fossil fuels are burned, traps heat in the atmosphere and is largely responsible for the warming of the climate. This spring, carbon dioxide levels in the air reached the highest levels they’ve been in over 4 million years, the National Oceanic Atmospheric Administration said earlier this month.

July was the hottest month on record globally and likely the warmest that human civilization has seen, according to scientists.

Dr. Jesus Lim Arranza MAKE

District Court Judge Kathy Seeley found the policy the state uses in evaluating requests for fossil fuel permits—which does not allow agencies to look at greenhouse gas emissions—is unconstitutional.

A12 Wednesday, August 16, 2023

MAP pitches tariff reforms for agri-food value chains

THE Management Association of the Philippines (MAP) wants the government to reform the tariff structure of the Philippines in a way that strengthens sustainable agri-food value chains, especially domestic agricultural value-adding enterprises including processing, storage, and logistics, among others.

I n particular, the business group advocated a rational tariff structure where tariff rates on inputs do not exceed those on finished products.

I n a position paper dated August 3, 2023 but distributed to reporters on August 15, MAP said the government should review and reform the tariff structure of the Philippines amid the ongoing move by the Tariff Commission (TC) and the National Economic and Development Authority (Neda).

A mong its recommendations: come up with a tariff structure that supports food security for Filipinos, especially accessibility and affordability of competitivelypriced food, via low tariffs on food products.

M AP said the country’s tariff structure should be “neutral” across industries and avoid distortions and unwarranted protection aris -

ing from tariff peaks, currently seen primarily in agricultural products.

T he business group also underscored the importance of reducing incentives and opportunities for corruption and smuggling by “unifying” Minimum Access Volume (MAV) and non-MAV tariff rates, and keeping tariffs relatively low and uniform across all goods (with a maximum 10 to 15 percent) to keep food prices affordable, especially to the poor.

I n the position paper signed by MAP President Benedicta DuBaladad and MAP Cluster on Resilience and Recovery Governorin-Charge (GIC) Cielito F. Habito, MAP stressed that Trade enhances food security.

It improves access to food, lowers food costs, mitigates supply shocks, reduces inflationary pressures, and ultimately strengthens

economic and social prosperity,” MAP said. High tariffs, it noted, have long been shown to be “counterproductive, and lead to reduced investment, low or stagnant wages, and higher rates of malnutrition.”

Moreover, using protective trade policy to help farmers causes “unwanted collateral damage” to the much wider mass of consumers, especially the poor who suffer the long-term consequences of highpriced food, MAP said.

Moving forward, MAP said the positive economic gains to greater trade must be accompanied by “effective implementation” of focused adjustment and assistance measures carefully aimed at adversely affected sectors, especially small farmers.

Government must refocus its support and assistance to farmers from high levels of trade protection to effective improvement of productivity and competitiveness,” MAP said.

“

In sum, removal of existing peaks and achieving low uniform rates in a tariff structure that provides equal incentives across domestic industries will encourage more and wider agricultural processing and value-adding, help control inflation, and enhance the country’s food security. We urge the TC and Neda to move the Philippine economy in this direction,” it added. Andrea E. San Juan

PANEL-CRAFTED MUP BILL SEEN ‘ACCEPTABLE’ TO ALL PARTIES

THE Ad Hoc Committee on the MUP Pension System on Tuesday approved the Military and Uniformed Personnel (MUP) reform bill that is now “acceptable” to all stakeholders, including the Armed Forces of the Philippines and the Philippine National Police, as well as economic managers.

A lbay Rep. Joey Sarte Salceda, the panel chairman, and Speaker Ferdinand Martin Romualdez described the reform bill as “win-win solutions.”

“ We are pleased to report to the President and to the public that

Meralco sells e-vehicle unit ESakay for ₧87.4M

THE Manila Electric Co. (Meralco) sold its electric vehicle (EV) unit, ESakay Inc., to On-Us Solutions Inc. for P87.4 million.

Please be informed of the sale of ESakay, Inc., a wholly owned subsidiary of the Company, to On-Us Solutions, Inc. with the total consideration of P87.4 million as stated in the share purchase agreement dated August 15, 2023,” Meralco said in a disclosure.

On-Us is a jeepney modernization platform under MPT Mobility Corp., a subsidiary of another Pangilinanled firm Metro Pacific Tollways Corp. (MPTC).

No other details were provided.

we have formalized a solution to the MUP Pension problem. The members of the Ad Hoc Committee on the MUP Pension System have agreed in principle on an MUP Pension Reform that is amenable to both the military and uniformed services and to the economic managers,” Salceda said.

“ This is a win-win solution, because we are removing the risks of sudden spikes in pension liabilities while also ensuring that salaries and pensions increase at manageable levels,” Salceda added.

Continued on A4

A ccording to a source, Meralco wants to focus on EV charging stations instead. “ESakay has an e-jeepney route franchise from LTO [Land Transportation Office] for Makati -Mandaluyong route and Meralco wants to concentrate on providing charging stations so the company was sold,” the source said.

L ast March, Meralco announced that it formed a new subsidiary, Movem Electric Inc., to hasten the EV adoption in the country.

A s of October last year, there are around 9,000 registered EVs, of which 378 are public utility vehicles (PUVs), while 276 charging stations have already been deployed nationwide.

T he Department of Energy is currently pushing to ramp up the EV rollout to 10 percent of all vehicle fleets from five percent as required by RA 11697 or the Electric Vehicle Industry Development Act.  Lenie Lectura

COURTESY CALL Chief Justice Alexander G. Gesmundo (third from right) receives a Plaque of Appreciation for his participation at the 104th Rotary Club of Manila Induction and Handover Ceremony of Officers and Directors from Rotary Club of Manila President and former Department of the Interior and Local Government Secretary Rafael M. Alunan III on Monday, August 14, 2023, at the Dignitaries Lounge of the Supreme Court of the Philippines. Joining them are (from left)

Associate Justice Jose Midas P. Marquez; Rotary Club of Manila Foundation President Wilfredo M. Peliño; District Governor-Elect RI District 3810 Joaquin “Jackie” C. Rodriguez; and Rotary Club of Manila Foundation Trustee Francisco “Paco” Magsaysay. CONTRIBUTED PHOTO

Editor: Jennifer A. Ng

Companies

Wednesday, August 16, 2023

San Miguel, MPTC to invest ₧72B in new expressways

By Lorenz S. Marasigan @lorenzmarasigan

nation-building has led us to this historic collaboration. to gether, we aim to deliver world-class road networks that will serve as arteries of progress, growth, and development for our country and the Filipino people. t h is collaboration stands as a testament to what we can achieve when we are united in purpose,” s MC President and C e O Ramon s Ang said.

t h e groundbreaking is scheduled for 2024 and CB e X and n B e X a re expected to be completed and open to the public in 2027.

partment of Public Works and Highways and was granted the original proponent status.

s i milarly, s M C’s unsolicited proposal for the CB e X and n B e X w as approved by the Cavite and Batangas governments. Both projects share the common goal of connecting the provinces of Cavite and Batangas through tag aytay City and MP t C and s M C have come together as partners in this significant venture.

B1

Aboitiz unit to begin construction of 2 solar power plants

ABO i tiz Renewables i n c.

(AR i), the renewable energy (R e) arm of Aboitiz Power Corp., is scheduled to commence construction of two solar power facilities that will help achieve its goal of adding over 3,000 megawatts (MW) of renewables capacity.

Olongapo solar will be built within an approximate land area of 196 hectares, to be undertaken by a joint venture between Guangdong electric Power Design institute Co., lt D (GeDi) and parent company China energy international Group Co., ltd.

Under the agreement, the two groups will jointly undertake the construction, operation, and maintenance of the 88-kilometer-long toll road projects. to gether, the projects will require an investment of P72 billion.

t h e CB e X will establish a “crucial link” that will connect the s i lang (Aguinaldo) i n terchange

of the Cavite- l a guna e x pressway (Calax) to n a sugbu, Batangas.

t h e n B e X , meanwhile, will connect n a sugbu and Bauan in Batangas, via the townships of s il ang, Amadeo, ta gaytay, i n dang, Mendez, and Alfonso in Cavite before crossing into n a sugbu and finally reaching Bauan, Batangas.

“Our shared commitment to

to gether with s M C, we envisage a future where our CB e X a nd n B e X can help pave the way for connectivity and economic growth in the Calabarzon region.

We look forward to leveraging on our respective strengths for the realization of this vital infrastructure project,” said MP t C C hairman Manuel v Pangilinan.

MP t C proposed in 2018 the construction of the 50.4-kilometer Cavite-ta gaytay-Batangas e x pressway (C t B e X ) to the De-

FDC H1 income surges to ₧3.9B

Filinvest Development Corp. (FDC), the holding firm of the Gotianun Group, on tuesday said its attributable income in the first half jumped 77 percent to P3.9 billion from the previous year’s P2.2 billion.

Revenues grew 29 percent to P42.5 billion from the previous year’s P33.1 billion.

t he company said its total revenues and other income in the first six months of 2023 already equaled the P41.6 billion it generated in the first half of 2019.

“We are very encouraged by the continued recovery of our businesses. We look forward to sustaining our growth momentum for the balance of the year. We are working to make the businesses and the entire organization even stronger under the leadership of newly appointed executives in the business units and FDC, the parent company,” FDC President and CeO Chiqui A. Huang said. t he company said it saw a 41-percent increase in its banking business, 9 percent in real estate, 24 percent in power, 36 percent in sugar and 61

percent in hospitality.

t he increases reflected mainly the continued recovery of the businesses over prior periods which were adversely affected by the pandemic, the company said.

Revenues from eastWest Bank surged by 32 percent to P3.8 billion, driven by higher interest income from loans this year.

t he recurring revenues of its real estate segment expanded by 16 percent year-on-year, or by P504.7 million, with the improvement in mall leasing. VG Cabuag

sMC and MP t C said the signing of the agreement signals the cooperation between the two groups “to ensure a sustainable and responsible development that aligns with the country’s infrastructure goals.”

i t should be noted that the implementation of the transaction is still subject to the completion of certain conditions, including the execution and procurement of relevant approvals and the execution of definitive agreements.

t h e two groups are the leading toll road operators in the Philippines.

AR i will build the 172.7-MW peak solar power project in Calatrava, negros Occidental. it is expected to export electricity to the grid via the Calatrava substation as soon as December 2024. Construction will commence in september within an approximate land area of 143 hectares. it will be undertaken by sUMeC Complete equipment and engineering Co. ltd., the same firm currently completing the 159 MWp laoag solar Project of Pv sinag inc. Meanwhile, AR i will also build the 211-MW peak solar power project in Olongapo, za mbales, by far its largest solar project. Construction of the project will also start in september and will be commercially operational by september 2025 to provide electricity through the Castillejos substation.

“We are looking to begin the construction of our Calatrava solar and Olongapo solar projects this year on the way to achieving our growth strategy of providing an additional 3,700 megawatts of renewable energy by the next decade,” said AboitizPower President emmanuel Rubio. t his brings the total number of Aboitiz Power solar projects to 5, including sa n Carlos sun Power inc. in negros Occidental and the l aoag and Cayanga solar projects in Pangasinan. At present, the company has a pipeline of close to 1,000MW of R e projects, including developing wind and solar farms throughout the country, as well as geothermal. in the next 10 years, AR i aims to have a total of 4,600MW of clean energy and a 50:50 balance between its renewable and thermal capacities. Lenie

Lectura

Metro Pacific tollways Corp. (MPtC) and San Miguel Corp. (SMC) have signed a memorandum of agreement (MoA) for the construction and operation of the 27.06-kilometer Cavite-Batangas expressway (CBeX) and the 60.90-kilometer Nasugbu-Bauan expressway (NBeX).

7-mo sales boost optimism of local carmakers–Campi Megawide swings to income in Jan-June

By Andrea E. San Juan @andreasanjuan

Campi made the pronouncement after it released a report which showed that vehicle sales in January to July jumped by 31.1 percent to 239,501 units from last year’s 182,687. The report included data from the Truck Manufacturers a ssociation (TM a)

“The auto industry is notably going strong despite the consumer spending slowdown attributed to the risks of inflation,” Campi said in a statement on Tuesday.

The group said the automotive industry is aiming to sustain its “positive growth trend” as sales of new motor vehicles recorded increases

for 17 consecutive months starting in March 2022. “The industry hopes to maintain this trend for the year.” with the continued growing demand for motor vehicles, Campi said it is “truly inspired to expand its product and service offerings to the consumers and businesses.”

The Campi-TM a report indicated that their members sold 37,086 units of vehicles in July, up by 33.3 percent from the 27,813 units sold a year ago.

On a monthly basis, sales of vehicles went up by 2.1 percent from the 36,311 units sold in June.

i n terms of vehicle segments, data from Campi-TM a indicated

that sales of heavy trucks and buses jumped by 87 percent year-on-year in July while passenger car went up by 49.8 percent; medium trucks and buses, 40.9 percent; light commercial vehicle, 32.7 percent; commercial vehicle, 28.5 percent; aU V by 14.1 percent; and light trucks, 0.2 percent.

Toyota Motor Philippines Corp.

led year-to-date sales with 110,158 units, followed by Mitsubishi Motors Philippines Corp. with 43,831 units, and Ford Motor Company Phils inc. with 16,611 units. Campi and TM a said in March that they are optimistic that vehicle sales would grow by as much as 15 percent and allow them to hit the 395,000-unit mark this year.

Megawide Construction Corp. on Tuesday said it posted a consolidated net income of P362.61 million in the first half, a reversal of last year’s P441.14million net loss.

Continuing operations, which reflected the same amount as the consolidated net income, was also an improvement from the P347.5 million last year, the company said.

Consolidated revenues grew 51 percent to P11.31 billion from the previous year’s P7.46 billion, of which construction operations accounted for the bulk at P10.97 billion while landport operations contributed the balance of P191 million.

“Construction is on its way to recovery and we are starting to see it. we have yet to capitalize on the big-ticket infrastructure projects in our portfolio, such as the Metro Manila Subway Project (MMSP), which has yet to commence,” edgar Saavedra, the company’s president and CeO, said.

“Our landport is also recovering in terms of foot traffic, office occupancy, and commercial sales. a l l in all, we are confident of sustaining the momentum for the remainder of the year.”

The company said its order book of P50 billion remains “healthy and diverse.” More than half of the projects

are still in the 0-20 percent completion stage, providing a significant balance for bookable revenues in the coming periods, it said. in addition, the company expects to gradually reap the benefits from its acquisition of affiliate PH1 world developers inc. over the years in terms of revenue stability and profitability.

“Our property development arm, PH1 world, will be a significant contributor to our consolidated performance moving forward. a side from generating synergies and providing long-term project visibility, PH1 world’s healthy pipeline will also strengthen our order book quality by de-risking it from contractual and collection issues,” Saavedra said. average daily foot traffic at the Paranaque integrated Terminal exc hange [Pi T X] as of June breached the 100,000 level anew, after falling below this threshold in the first few months of the year.

Together with the improvement in foot traffic, is the increase in average passenger spend to P35.4, its highest ever level to date, from P28.5 per passenger at the start of the year. This was attributed to strong leasing performance at 82 percent occupancy and robust sales from new tenants like dunkin donuts, Bonchon, Tim Horton’s, Highlands Coffee, watsons and many more. VG Cabuag

Photo by NoN e Reyes

The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) said local carmakers will expand their product and service offerings to consumers despite the threat of inflation.

CDO green start-up secures US funding support for food waste recycling project

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

The Cagayan de Oro’s Kids Who Farm has established a Food Loop, a circular food system concept, and its technology wanted to help households convert edible material waste into organic components for growing food, the US embassy said.

This project was one of the 20 start-up initiatives that offer sus-

tainable solutions to environmental issues in Cagayan de Oro, Dumaguete, and Manila, and which the US government recently supported to get them developed to be implemented.

The US Embassy’s American Spaces Philippines and The Spark Project recently concluded the Green Impact Accelerator (GIA)

Food delivery app bares new initiatives for MSME growth

By Roderick L. Abad @rodrik_28 Contributor

ON-DEMAND food and grocery platform foodpanda has launched a new lineup of products and initiatives meant to strengthen its support to partner-vendors.

“At foodpanda, we believe in fostering meaningful relationships with our partners. We are eager to share the innovative initiatives and remarkable products we have for them so that together, we can drive progress and revolutionize the online food delivery industry,” foodpanda Philippines Commercial Director Luis Antonio Yanga said during their recent partner-vendors summit, titled “CRAVE: Creating Relationships and Advancing Vendor Experiences.”

Yanga said their company’s “hypercare” approach ensures that its programs and solutions are fit to the needs of its allied merchants, including those who belong to its pandapick program.

First introduced last year, it allows app users to discover dishes from brands available only on foodpanda. Also, merchants have access to elevated benefits only available to them.

“It is crucial to understand each vendor’s top growth objectives and pain points. From those criteria, we will start to customize the benefits most relevant to them, including additional visibility on the app, marketing support, and tools to drive their growth,” he noted.

foodpanda also offers app users exclusive discounts and deals for dine-in orders. To drive growth in this segment, it is introducing an improved QR Code scanning process.

This new feature is a response to a rising market demand, as shown the country’s QR Code transactions amounting to P32.7 billion in the first quarter of this year.

Through Tabsquare, partner-merchants will be supplied with QR Codes tagged to their own accounts.

Moreover, restaurant owners can review the transactions via TabSquare’s analytics.  “By embracing this innovation, we help streamline restaurant operations and simplify customers’ ordering process. We are confident that by offering services such as dine-in and pick-up, we can greatly enhance the value we provide to our partner vendors. These services are specifically designed to help them effectively meet the ever-evolving demands of today’s consumers,” Yanga said.

Recognizing outstanding entrepreneurial skills of allied merchants, he added that they have recognition programs, such as the CRAVE Awards.

Through this, exceptional partner-vendors were feted for their brand growth, operational excellence and impeccable customer service during the summit.

The commercial director revealed their timely partnership forged with the Online Food Vendors Marketing Cooperative during last month’s MSME Week celebration, encouraging member contribution and shared responsibility among its thousands of partner-merchants and shops that are mostly micro, small and medium enterprises (MSMEs).

It also offers them a chance to earn interest in their share capital, while expanding their industry network.

The online channel, likewise, tied up with Security Bank Finance to provide allied vendors affordable and accessible loan products.

“We value the opportunity to work alongside DTI [Department of Trade and Industry] in supporting their dedicated efforts to advance the MSME sector—the backbone of our economy,” Yanga said.  Based on latest data from the Philippine Statistics Authority, around 1.076 million establishments, or 99.9 percent of local businesses, fall under the MSME category. They account for about 90 percent of businesses, about 70 percent of employment, and 50 percent of gross domestic product worldwide.

“You can count on our unwavering commitment to contribute to the growth and success of MSMEs as we help drive the nation forward,” he assured.

bootcamp, a five-month program that supported the growth and commercial viability of green start-ups through mentorship, networking, and crowdfunding matching.

Of the 20 solutions presented, three start-ups were selected to receive seed funding to develop, implement, and scale up their projects, it said.

These were the Cagayan de Oro organization, the Dumaguete’s Plantsville Health, which developed Green LiveS, an artificial intelligence-powered system that can record and monitor Philippine cinnamon production, and the Manila’s Dewaste Solutions, which created MARE!, a modular and portable materials recycling facility that promotes environmental sustainability through education and provides employment for women in waste management.

“We are very excited to finally run an accelerator program that caters

to enterprises that positively impact the environment,” Patch Dulay, founder and CEO of the Spark Project, said. “I believe that programs like these not only level-up entrepreneurs and their businesses, but also connect them to a like-minded community that is eager to support their work.”

US Embassy Assistant Cultural Affairs Officer Pauline Anderson said the program was part of the US commitment to support environmental resilience and promote inclusive economic growth. “The projects we saw in this program showcase the Philippine start-up community and how their talents can build sustainable ecosystems and help achieve prosperity.”

The Green Impact Accelerator teams would convene again in October for the American Spaces Angel Investing Seminar where they would be matched with potential investors and benefit from seed funding opportunities.

11 tech start-ups qualify for Shell’s acceleration program

TO help strengthen entrepreneurship in the country, Shell Pilipinas Corp. (SPC) has chosen 11 companies qualified to its flagship enterprise development project for this year where they will receive mentorship, training and financial support. Shell LiveWIRE is a program aimed at helping businesses identify their core strengths and build a system that can bolster their capacity to scale, improve their products, expand their market, and generate sustainable streams of revenue.

“In these uncertain times, the significance of platforms like Shell LiveWIRE cannot be overstated. They act as catalysts for progress, fostering connections, driving innovation, and empowering local enterprises to navigate challenges and thrive in an ever-changing world,” SPC Vice President for Corporate Relations Serge Bernal said.

This year, Shell LiveWIRE received 219 applications, of which 141 are technology start-ups, and 78 are community enterprises. The selection process was done by a panel of judges comprised of Shell leaders, Department of Trade and Industry representatives, and venture capitalist experts in industry and market requirements.  Three of the 11 shortlisted candidates are early stage tech businesses with focus on innovation, energy solutions, value chain integration, and economic diversification. They are LITHOS Manufacturing OPC, a company focused on adding value to the local minerals for industrial, agricultural, aquaculture, and environmental applications; Lycan, an integrator of smart technologies into two-wheeled electric vehicles; and Farmvocacy Inc., a social climate fintech start-up that supports climate-smart rice farming, environment-friendly, and

high-yielding planting systems.

The six community-driven enterprises, on the other hand, are Samahang Mangingisda ng Dalupaon, a group of fishermen that entered into an agricultural enterprise related to fish processing; Tagbilaran Young Workers Association, a producer of bags and other souvenir items with upcycled plastic waste; PHILIA Variety Store, a direct market conduit for smallholder community farmers of coffee, cacao, coconut and other agricultural products; DLR Foods Supply Trading, a firm that provides ready-to-eat meals in retort pouches that are halal certified; Odicon Small Coconut Farmers’ Organization, an agri-enterprise that specializes in the sustainable processing of coconut byproducts; and AgriVINO Enterprises, a poultry business that provides egg incubation service to the community, reducing travel costs

for fellow growers. The two other businesses that made it to the Shell Sponsor’s A-List are Forent, a homegrown Philippines’ peer-to-peer car-sharing platform provider that allows auto owners to rent out their vehicles to anyone in need of transportation; and USHER Technologies or the Universal Structural Health Evaluation and Recording System, a firm that offers equipment that monitors and analyze the structural health of buildings.

All of these will get a chance to pitch their ideas and win funding needed for their business growths. At stake are P1 million for tech start-ups and P100,000 for community enterprises, which will be awarded in the culminating event later this year.

On top of these, all participants get a chance to be a part of the Shell Value Chain as suppliers or vendors in the company’s ecosystem. Roderick L. Abad

Group pushes use of engineered bamboo as school, home furniture

By Miguel Gil Philippine News Agency

ANTIPOLO CITY—The Philippine Bamboo Industry Development Council (PBIDC) is ramping up efforts to promote the widespread use of engineered bamboo school desks in public learning institutions ahead of the start School Year 2023-2024 on Tuesday, August 29.

In an interview on Sunday, Butch Madarang, PBIDC executive director, said the Department of Science and Technology’s (DOST) campaign to promote engineered bamboo as the primary material for school tables and chairs will give a much-needed boost to growers and processors.

The DOST, through its Forest Products Research and Development Institute (FPRDI), launched earlier this year its “Silyang Pinoy” (Filipino Chair) program, which offers sustainable and competitive materials to replace hardwood and plastic school furniture.

“We are encouraging that [use of bamboo school furniture]. The DOST is our partner agency, and it is represented in the PBIDC. We [involved government agencies] are harmonizing all our efforts to promote the use of bamboo,” he said.

The DOST-FPRDI is seeking to match the Department of Education’s (DepEd) budget for the acquisition of school desks made of hardwood or plastic, with similarly priced furniture made of engineered bamboo.

The DepEd currently spends P116,000 to provide tables and chairs for a class of 45 students, according to the DOST-FPRDI web site.

“Our country’s geographic location situates us in the pathway of destructive typhoons. This furniture technol-

ogy will support our educational school system and at the same time, [provide for] sturdier furniture for evacuees who seek shelter in schools during disasters,” DOST Secretary Renato Solidum Jr. said in an earlier statement.

Meanwhile, Madarang told the Philippine News Agency that PBDIC officials were in Northern Mindanao over the weekend for ocular visits to bamboo processing facilities. They also attended a public hearing

on the bamboo sector development at the Bamboo Pavillion in Barangay Damilag, Manolo Fortich, Bukidnon on Friday.

“Discussions centered on the deliberation of the drafted measures mandating government agencies to allot at least 5 percent of their budget for furniture and fixtures by 2030 using engineered bamboo,” said Madarang.

He said efforts to strengthen the local bamboo industry enjoy significant

support in Bukidnon, the home province of Senate President Juan Miguel Zubiri, who filed Senate Bill 605 or an Act Institutionalizing the Philippine Bamboo Industry Development Program. PBIDC council members together with ranking Department of Agriculture officials were also set to visit the facilities of engineered bamboo manufacturer Rizome Philippines in Cagayan de Oro as of posting time.

DAVAO CITY—An organization based in Cagayan de Oro was selected to be among three Philippine organizations to get support funding from the US government to scale up their start-up green projects.

Kids Who Farm Facebook page photograb

BuKidnon First district Rep. Jose Manuel Alba spearheads a public hearing on exploring ways to develop the domestic bamboo sector on Friday, August 11. Agriculture undersecretary deogracias Victor savellano and department of Agriculture-10 Regional Executive director Carlene Collado joined officers of the Philippine Bamboo industry development Council at the Bamboo Pavillion in Barangay damilag, Manolo Fortich town. photo courtesy oF butch Madarang

DOF plans offering restructuring for debt-saddled uniformed staff

By Jasper Emmanuel Y. Arcalas @jearcalas

Bill on taxpayers’ rights gets House panel’s nod

By Jovee Marie N. dela Cruz @joveemarie

DOF officials said last Tuesday they believe restructuring loans would ease the impact of the proposed mandatory contributions on MUP personnel, particularly to those currently burdened with “heavy personal loans.”

“The creation of a self-sustaining pension fund insulated from economic shocks and the budget-

ary process is key to ensuring that the State is able to honor its future promises to retirees and their dependents,” Finance Secretary Benjamin E. Diokno was quoted in a statement as saying. Diokno said government believes requiring soldiers, policemen, and other uniformed employees of the state to contribute to their own pen-

sion would be “beneficial” since such arrangement would give these staff “full ownership and vested rights over the pension fund.”

The DOF explained that the executive’ branch, proposed reforms to the MUP include a uniform retirement age of 57 or upon accumulation of 30 years of satisfactory service in order to “encourage those in the active service to stay longer and ensure more experienced personnel are retained.”

Through the statement, the DOF emphasized the need for a periodic review of the pension benefits as officials see these benefits involving a “possible” increase of up to 1.5 percent per year. The increase shall be subjected to the evaluation of the economic conditions and actuarial life of the pension fund in order to keep up with the country’s inflation rate, according to the DOF.

According to Diokno, these pension funds shall be funded through the MUP’s contributions, with a corresponding government share, and

supplemented by the proceeds from the sale or lease of MUP assets. The Finance Secretary, however, did not identify these assets.

The DOF said the MUP pension arrearages in the past few years amounted to the following: P3.7 billion in 2021, P32.6 billion in 2022, P5.2 billion in 2023, and projected to reach P4.8 billion next year.

The DOF disclosed its plan the day the House of Representatives ad hoc committee held its first hearing on the MUP pension reform bill.

Diokno emphasized through the statement that the current MUP pension system’s “dependence on full government funding exposes it to economic and fiscal downturns and compromises its stability and reliability.”

“The goal is to craft a pension system that factors in the welfare of the military and uniformed personnel in active service and retirees, while making sure it is sustainable and can withstand the test of time,” the DOF chief added.

Citystate Savings Bank celebrates 26th anniversary

THE Citystate Savings Bank Inc. (PSE: CSB) celebrated its 26th anniversary on August 8, 2023, at the Citystate Centre in Pasig City. The event was led by Chairman and CEO D. Edgard A. Cabangon, who was joined by members of the Board of Directors, President Jaime Valentin L. Araneta, executive officers, along with employees and friends.

The celebration started with a Thanksgiving Mass officiated by Rev. Fr. Rufino “Jun” Sescon. A simple program followed, with Araneta sharing the significance of 26 as a hallmark year.

Chairman and CEO D. Edgard A. Cabangon expressed his appreciation to all who played a significant role in CSB’s journey. In a short message, he said: “As we celebrate our 26th anniversary, we are reminded of the support and trust that our valued customers and partners have bestowed upon us. Our journey would not have been possible without the dedication and hard work of our exceptional team. We are committed to continuing to provide reliable financial services that contribute to the growth of our clients and the communities we serve.”

Cabangon added: “My father, Amb. Antonio L. Cabangon-Chua, was not only a founder but also a

By Butch Fernandez @butchfBM

SENATOR Grace L. Poe prodded the Bureau of Internal Revenue (BIR) to coordinate with the Philippine Gaming Corp. (Pagcor) and collect unpaid tax dues amounting to P2.2 billion from the Philippine Offshore Gaming Operator (Pogo) reported to have closed shop. The lawmaker lamented that apart from reported dodging tax

guiding light for us. As we continue his legacy, we are inspired to reach even greater heights, always guided by the principles he instilled in us.”

Looking ahead, CSB has plans for expansion. The Bangko Sentral ng Pilipinas (BSP) has granted CSB approval to establish four branchlite units in strategic locations, including Naga City in Camarines

obligations, the Pogo was linked to troublemakers.

Poe pressed the BIR to coordinate with Pagcor and make every effort to collect the dues from the POGO firm “that just closed shop and disappeared.”

“Hindi lang sila nagdadala ng gulo, nagnanakaw pa sa kaban ng bayan,” the lawmaker lamented. [They are not only causing trouble, they are also stealing from the public coffers.]

Sur, Baguio City, Cabanatuan in Nueva Ecija and San Fernando City in Pampanga, adding to its existing network of 30 branches nationwide. This expansion will provide even greater accessibility and convenience to clients in key locations across the country. This move reflects the bank’s commitment to enhancing its presence and service offerings to better cater to

Last week, police authorities reported to have recovered 28,000 registered SIM cards at a P O GO facility in Pasay City allegedly involved in online scams. Senator Sherwin T. Gatchalian said last August 9 that the confiscation of registered SIM cards indicates that POGOs are heavily entrenched in online scams, possibly victimizing hapless individuals both here and abroad.

According to a report from the Philippine National Police (PNP), a total of 4,355 individuals fell victim to POGO-related crimes from January 2017 to June 30 of this year, involving 903 perpetrators.

The crimes documented in the report include human trafficking, forcible abduction, homicide, illegal detention, kidnap-for-ransom, theft, robbery-extortion, serious physical injuries, swindling, and grave coercion, among others. Chinese nationals, or a total of 793, account for the majority of the suspects involved in these crimes, Gatchalian said, citing PNP data.

Poe stressed that if the Pogo that closed shop and disappeared “is a legitimate company, in the first place, then regulators should have a way

THE House Committee on Ways and Means on Tuesday approved the proposed Magna Carta of Taxpayers.

The committee, chaired by Albay Rep. Ma. Jose Clemente “Joey” S. Salceda, approved an unnumbered substitute bill providing for the bill of rights and obligations of taxpayers.

According to Salceda, the bill mandates the State to provide increased protection of taxpayers’ rights in complying their to pay national and local taxes to the government, to the end that abuses committed against taxpayers are prevented, if not completely eradicated and taxes are collected responsibly.

In turn, he said taxpayers are expected to faithfully comply with their tax obligations to the government.

“This is a leap towards empowering citizens with clear rights and responsibilities in our tax system,” he said.

Under the bill, a taxpayer has the right; to be informed; to fair, uniform and faithful application of laws; to challenge the position of and be heard by revenue authorities; to fair and impartial proceedings before the revenue authorities; to present evidence and witnesses; to be assisted or represented by a qualified professional of their choice; to timely and expeditious completion

and finality of tax audits; against baseless assessment; to be given an opportunity for amicable settlement; to avail of installment payment; to pay no more than the correct amount of tax; to relief from paying interests, surcharges and penalties; to recover actual costs and actual damages arising from judicial actions; to quality service and assistance; to privacy; and, to confidentiality.

Likewise, the bill said a taxpayer has the following obligations: to comply with tax laws; to truthfully and timely disclose information; to lodge and submit required documents completely and on time; to keep and make tax records available for examination; to cooperate with revenue authorities in tax audit; and, to timely pay taxes.

The bill also provides penalties for violations of the bill of rights of taxpayers.

The bill said that notwithstanding the administrative remedies provided in several laws and codes, any person or revenue officer who is found to have violated Section 5 (“Taxpayer’s Basic Rights”) of this proposal shall be punished with imprisonment of not less than six months nor more than six years, or a fine of not less than P100,000.00 but not more than P1.5 million, or both.

The measure also mandates all public and private higher education institutions to integrate the “Taxpayer’s Bill of Rights and Obligations” as part of the curriculum.

Benchmarking the financial services sector

THE Philippine Stock Exchange Inc. (PSE) has unveiled the updated composition of four sectoral indices after conducting a comprehensive review covering the trading period from July 2022 to June 2023. These indices are for the services, mining and oil, industrial, and property sectors.

the evolving financial needs of its valued customers.

With its 26-year journey marked by growth, innovation, and customer-centricity, CSB remains dedicated to upholding its mission of empowering communities through exceptional banking experiences.

As Araneta added, “Brighter days are ahead. It’s a good time to grow!”

PSE president and CEO Ramon S. Monzon said the “regular screening of these barometers ensures that only the most eligible companies comprise these indices since they are used as benchmarks to gauge the market’s performance.” Monzon announced that the constituents of the main composite index called the PSEi would remain unchanged.

The PSEi consists of the 30 most liquid and well-capitalized companies that are listed on the local bourse. To qualify for inclusion in the indices, publicly-listed firms must meet specific financial criteria set by the PSE, including the maintenance of free-float levels not lower than 20 percent, as well as being among the top companies in terms of liquidity and market capitalization.

of finding it and making it settle its liabilities.”

The lawmaker recalled in a statement that “every year, we rack our brains to make the limited budget cover the vast needs of all departments.

“There are those who argued on the financial benefits of keeping POGOs in the country and yet we have a staggering 2.2 billion in unpaid taxes,” Poe added.

The senator shared the hope the Marcos administration will also “finally put its foot down on the existence of POGOs in the country.”

According to the Department of Finance, the national government raised P8.88-billion worth of tax payments from the existing Pogos in the country in 2022.

Pagcor said the number of registered POGOs has decreased to 32 as of July 18 from its pre-pandemic peak of 281 in 2019.

“The gross gaming revenue generated from P O GO s is expected to reach P24 billion by the end of 2023, more than doubling the P11 billion achieved in the previous year,” DOF said in a statement.

(See https://businessmirror.com. ph/2023/07/24/ng-tax-take-frompogo-up127-to-p8-88b-pagcor/ )

The review of the index composition was based on PSE’s policy on index management; its implementation taking effect on August 7, 2023.

DFNN Inc. is now included in the services sector index of PSE. The listed fintech and IT-solutions provider earned its place among the index components in recognition of the significant growth and efficiencies that the company has diligently pursued over the past few years. Being acknowledged as a benchmark in a fiercely competitive sector serves as a strong motivation to strive for greater achievements.

Last Monday, DFNN signed an agreement with the Philippine Space Agency (PhilSA) to provide a learning management system and scholarships for PhilSA employees. The donation was made possible through the auspices of DFNN Executive Chairman Ramon C. Garcia Jr. Accepting the grant on behalf of the central government agency that addresses all national issues and activities related to space science and technology was PhilSA Director General Dr. Joel Joseph S. Marciano Jr.

Meanwhile, Manila will host the “Asian Banking and Finance Forum 2023” on October 3, bringing together leaders and experts in the country to discuss current trends

and developments in the industry. The event offers a platform for the sharing of insights and best practices as well as the promotion of innovative and collaborative efforts across the sector. This is the fourth installment of the event series following similar forums in Bangkok, Jakarta, and Kuala Lumpur earlier this year. Attendees will take part in panel discussions and network with fellow industry professionals. They can participate in interactive sessions with notable speakers, including Boston Consulting Group’s Managing Director Sumit Kumar, Bain & Co. Partner Patricia Nichol, EY-SGV & Co. Asia Pacific FSO Risk Management Leader Vicky Lee-Salas, Security Bank Corp. Senior Vice President Rahul S. Rasal, and GoTyme Bank Corp. Co-CEO Albert Tinio. Happening also on October 3 will be the “Insurance Asia Forum 2023” that aims to address the evolving challenges and opportunities in Asia’s insurance industry. Participants may engage in thought-provoking discourse through keynote presentations of confirmed speakers such as ZA Tech Country Manager Tyler Thuy Long, EY-SGV & Co. Consulting Partner Charisse Rossielin Y. Cruz, Manufacturers Life Insurance Co. CEO Raul Hora and Head of Strategy Prahlad Agarwal. (E-mail businessconference@ charltonmediamail.com for details on these twin conferences.)

Asia’s financial services sector has indeed become a powerhouse, captivating the world with its robust economies and forward-thinking strategies. The resilience, resourcefulness and appetite for progress of the region have propelled it to the forefront of the global financial revolution.

Joseph Gamboa is the vice-chairman of the Ethics Committee of the Financial Executives Institute of the Philippines and director of Noble Asia Industrial Corp. The views expressed herein do not necessarily reflect the opinion of these institutions and the BusinessMirror . Visit www.finex.org.ph for more information.

THE Department of Finance (DOF) said the economic team is exploring the possibility of extending loan restructuring to military and uniformed personnel (MUP) to cushion the impact of the proposed reforms on the security officials’ pension system.

Sen. Poe slams unpaid dues by POGO that ‘disappeared’

This photo courtesy of Citystate savings Bank inc. (PsE: CsB) shows CsB executive officers and members of the board (l-r): Dir. Dante T. Fuentes; Dir. Maria Katrina C. Bote Veguillas; Dir. Reynaldo A. Catapang; Rev. Fr. Rufino “Jun” sescon; Chairman and CEO D. Edgard A. Cabangon; sharon Tan; and, President Jaime Valentin L. Araneta. CREDIT: C T ysTaTE sav ngs Bank InC

Finex Free enterprise

Joseph Araneta Gamboa

Overcoming your fear of making mistakes

THE story goes that a teacher wrote the multiplication table of the number nine on the board, but he intentionally made one mistake. His students kept laughing at him until he said, “you have learned how the world will treat you–laugh at your one mistake and ignore the other nine good things you do.”

In the workplace and in life, people look at their mistakes as weakness and they strive to keep it hidden unless they want to be ridiculed. But there is great value in mistakes if only we knew how to use them to our advantage.

There are generally two ways people deal with mistakes–either they avoid them completely or learn from them to grow. Avoiding mistakes starts in school when the teacher only counts the number of correct answers in favor of the student. Most people carry over this mindset to their work and think that everything is all about following the rules and avoiding making mistakes. But in reality, problems are complex and involve dependencies from other people which would sometimes lead you to commit a mistake or two.

If you avoid mistakes, you will deteriorate and you will not learn anything new. What you need is to increase your mistake tolerance by looking at mistakes as opportunities for learning and growth.

One way you can increase your mistake tolerance is to experiment with new ideas and learn by trial and error. When I was still a trainer, one of the concepts that management trainees need to learn is that leadership is both an art and a science.

In identifying the leadership style that they can adopt, they are taught to know their team members and to pattern how they lead with what their team needs. And to know this, you will need to try different methods and ways to get the right mix of what works well with your team. Use mistakes to identify what you need to avoid and to build your arsenal of motivational tools to keep your team going.

When you do commit a mistake, admit when you are wrong but provide alternative solutions. One of the reasons why people are afraid of committing mistakes is that they think there is only one way of doing things. But if you look at the evolution of your office’s processes and tools, improvement only happens after people have made mistakes. Errors are indicators that things can be improved and that there is a better way of doing things. When you commit a mistake, take it as an opportunity to improve the existing process or yourself. Who knows, you just might discover a better way of doing things.

But it also does not mean that you intentionally commit mistakes for its own sake. You need to look at an issue and take calculated risks in resolving

By Janet Colson Middle Tennessee State University

WE’VE all heard that an apple a day keeps the doctor away, but how true is that?

Apples are not high in vitamin A, nor are they beneficial for vision like carrots. They are not a great source of vitamin C and therefore don’t fight off colds as oranges do.

However, apples contain various bioactive substances–natural chemicals that occur in small amounts in foods and that have biological effects in the body. While these chemicals are not classified as nutrients like vitamins, apples contain many healthpromoting bioactive substances. Thus, the fruit is considered a “functional” food.

Functional foods contain a variety of bioactive substances, each with a unique function in the body. The bioactive substances

them. When it comes to complex and ambiguous issues, you need to think through of what you can do to resolve them, but, at the same time, understand the concomitant risks involved in taking a certain course of action. This way, you can also think of mitigating measures to reduce the risks and how to address the complications that might arise from them. So, when the mistake happens, you already have an action plan to address them.

When you are afraid of making a mistake, label what you are feeling and identify what is causing you to be afraid. Self-reflection will help you identify the factors that exacerbate your fear of making a mistake and will help you develop targeted solutions to reduce or even eradicate those fears.

The first step in processing any emotion is knowing what it is because its nature will determine what you can do to properly address it. For example, if you are feeling anxious, you can make a list of what is making you anxious and then identify those you can do to change it immediately. You can then focus your attention on those that you can do now, rather

than worrying what could have been. We have all grown thinking that mistakes define us, but this is not true. We beat ourselves up and we become too hard on ourselves when in fact, it was just a bad day, not a bad life. An essential element in life that people forget is that people always change, whether they intend to or not. Environmental factors and societal restrictions can hinder people from fully developing, but in time, we become the kind of person that we invest our time and effort into. Mistakes help us recalibrate what we need to do, so that we can go where we need to be. If you are managing people, you need to model how to handle mistakes. Admit when you are wrong and provide solutions to address them. If possible, ask your team members how they think you should handle it and brainstorm with your team on possible fixes. If you have developed a positive team culture, they will see it as an opportunity to meaningfully contribute to the team. If not, you need to put in place processes for addressing your team’s mistakes so that they will see errors as a means of developing their own skills.

A n apple’s natural dietary fibers are one of the bioactive components that lead to its classification as a functional food. The fiber pectin is found mainly in an apple’s pulp. Pectin functions to reduce the amount of sugar and fat that is absorbed into the body. This helps reduce the risk of diabetes and heart disease. Apple peels are also packed with fiber that acts as a laxative. In addition, apples contain high amounts of natural chemicals known as polyphenols that have vital roles in promoting health and reducing chronic disease.

So if apples are functional foods that promote health, do they really help keep the doctor away?

Researchers have tried to figure this out.

Just as much as you are working on your fear of making mistakes, you also need to increase your mistake tolerance of others. How do you react when people commit mistakes? If you get angry or annoyed at them, there is a good chance that you feel the same way about your mistakes. If people annoy you, know also that it is your problem, not theirs. In addressing other’s mistakes, you need to understand that people have learning curves and they are also just trying to learn more. Instead of judging or getting annoyed at them, try thinking of solutions that they could use. In adopting a growth mindset, you help the person but at the same time, you learn from the experience.

Thomas Edison, known for inventing the light bulb, once said that he has not failed, but that he has found 10,000 ways that do not work. Mistakes are inevitable if we are trying to improve the way we manage people, increase our work efficiency, or enhance our personal relationships.

If we want to have a better life, we need to look at mistakes as stepping stones to achieving the best version of ourselves.

for demographic and health-related factors, the researchers found that the daily apple eaters used marginally fewer prescription medications than the non-apple eaters. But the number of doctor’s visits was about the same between the two groups.

If one apple a day is not enough to make us healthy, what about eating two or three?

A group of European researchers found that eating two apples a day improved heart health in 40 adults. And Brazilian investigators found that eating three apples daily improved weight loss and blood glucose levels in 40 overweight women.

SAFEGUARDING the well-being of the entire family has always been a priority for Filipinos. As champions of health and wellness, Southstar Drug (www.southstardrug.com.ph) and Maxicare (www. maxicare.com.ph) have joined forces to support Filipinos in their journey toward a healthier and happier life.

By offering an extensive selection of health essentials and world-class health services, Southstar Drug and Maxicare aim to be reliable companions, or “Kasama sa Best Life,” for Filipinos. Their shared vision emphasizes the importance of holistic health as a key to unlocking one’s full

can be found naturally in foods or added during processing. The list of bioactive components in foods grows daily as research expands.

One U.S. team analyzed the apple-eating patterns and number of doctor visits among more than 8,000 adults. Of those, about nine percent ate one apple daily. Once adjusted

While eating an apple a day won’t necessarily cut down substantially on prescription medications or doctor visits, it could be one step in the direction of making the transition to eating more healthful, fiber-filled, whole foods. THE

potential and achieving life goals. We’re excited to work with Maxicare to help our fellow Filipinos take charge of their health by making positive changes in their lifestyle,” said Mariel Crisostomo, General Manager of Southstar Drug. “With readily available quality healthcare solutions, they can embrace a healthier lifestyle and unlock their full potential. Just take that first step, and we’ll be here to support them every step of the way.”

To kick off this pioneering wellness partnership, Southstar Drug and Maxicare will hold the 12th edition of Run for Wellness, an annual event that

aims to promote physical health and mental wellbeing, while encouraging Filipinos to take the first step in their journey toward their best life. For the first time, the event featured a Metro Manila leg at UP Diliman, Quezon City on August 13 in addition to the traditional location in Naga City, Camarines Sur, scheduled for September 10.

“With our mission to help Filipinos embrace a healthier future, Maxicare proudly joins hands with Southstar Drug for the Run for Wellness,” said Maxicare president and Chief Executive Officer Christian S. Argos. “Together, we reaffirm our dedication to fostering the well-being of Filipinos

by delivering the finest healthcare services. As your health partner, we enable Filipinos to take charge of their personal wellness journey through healthy habits to help them live their best lives.”

Southstar Drug is one of the country’s largest and most established drugstore chains, with over 600 stores nationwide and a user-friendly online platform, providing a wide range of affordable medicines, products, and services. Meanwhile, Maxicare is the Philippines’ leading HMO, serving nearly 2 million members with a comprehensive range of healthcare plans for corporations, SMEs, individuals, and families.

PHOTO BY MARTA NOGUEIRA ON PEXELS

PHOTO FROM PEXELS

Does an apple a day really keep the doctor away? A nutritionist explains

Supporting the wellness journey of Filipinos

MR.DIY Brigada Eskwela: Empowering Education with Acts of Kindness

IN the spirit of fostering a brighter future and spreading Acts of Kindness (AOK), MR.DIY recently concluded its impactful two-leg back-to-school outreach program, “Brigada Eskwela.” The campaign, held on July 21 and July 22, 2023, exemplified MR.DIY’s commitment to making a positive difference in the lives of young learners and their communities.

On July 21, 2023, MR.DIY employees, joined by the dedicated World Vision Team, stepped up to the plate and initiated the first leg of the campaign at Concepcion Elementary School in Malabon City. The volunteers put their hearts and hands together to revitalize the learning environment and bring smiles to the faces of the students.

The day started with a complete classroom refurbishment, involving a thorough general cleaning and a fresh coat of paint to breathe new life into the rooms.

To create a more engaging and conducive space for learning, the volunteers thoughtfully furnished the classrooms with curtains and visual aids.

A heartwarming moment came during the turnover ceremony when MR.DIY proudly presented a range of essential donations, including children’s books, toys, cleaning materials, school bags, steel racks, air conditioners, and PVC accordions. These contributions will undoubtedly provide invaluable support to the students and teachers of Concepcion Elementary School, enhancing their educational journey and fostering a love for learning.

In a remarkable display of support for education and community development, MR.DIY has been a longstanding partner of the “Pencil for a Smile” program, organized by Pagna’t iMontanosa and founded by Analiza Pelwa, along with their dedicated member volunteers, Maia Lein Balisong, Federico Murphy, and Adam

Bahingawan for the past three years.

On July 22, 2023, MR.DIY employees joined hands with the 2nd Provincial Mobile Force Company headed by Police Capt. Faustino Lang-Akhan, PNP Explosive Ordinance Disposal and Canine group headed by PEMS - Norman Batoon, and the Bokod Municipal Police Office to extend a helping hand to Poodan Elementary School and Ekip Elementary School in Bokod, Benguet.

The event commenced with inspiring speeches from teachers, emphasizing the transformative power of education in shaping the future of the community. The gathering witnessed a beautiful display of cultural heritage through a mesmerizing tribe dance, bringing parents and students together in celebration of unity and togetherness.

As part of this heartfelt outreach, the 2nd Provincial Mobile Force Company, PNP Explosive Ordinance Disposal and Canine, and the Bokod Municipal Police Office conducted a hair-cutting session for the students, symbolizing a fresh start and instilling confidence in their young minds.

Furthermore, MR.DIY distributed essential donations, including hygiene kits and school supplies, ensuring that the young learners have all the necessary tools to pursue their dreams and achieve their aspirations. This collaborative effort between MR.DIY, Pagna’t iMontanosa, and the local authorities demonstrates the collective commitment to empowering the next generation in Bokod, Benguet.

“At MR.DIY, we firmly believe in the power of Acts of Kindness to create meaningful and lasting change in the communities we serve. The MR.DIY Brigada Eskwela’s campaign is a testament to our dedication to empowering education and uplifting the lives of children. Through our overarching corporate social

responsibility program, AoK, we are committed to enabling and empowering communities, making a positive impact on society. We are immensely proud of our employees and volunteers whose unwavering passion and compassion have made this campaign a tremendous success,” shared Charles Salecina, MR.DIY’s Senior Marketing Manager

The MR.DIY Brigada Eskwela campaign is a shining example of the company’s overarching corporate social responsibility program, Acts of Kindness (AOK). Rooted in the Good Bag Campaign, where proceeds from the purchase of MR.D.I.Y. Eco-bags are thoughtfully donated to NGO partners, AOK exemplifies MR.DIY’s genuine commitment to enabling and empowering communities nationwide. As the campaign concludes, the spirit of AOK continues to live on, inspiring hope, compassion, and unity within each community touched by MR.DIY. The company’s dedication to creating a positive impact on society serves as a beacon of hope, illuminating the path toward a better and brighter future for all.

MR.DIY Brigada Eskwela’s campaign has left an indelible mark on the hearts of students, teachers, volunteers, and the entire MR.DIY family. Through the power of Acts of Kindness, MR.DIY has contributed to building a stronger and more resilient education system, nurturing young minds to reach their full potential. The company’s unwavering commitment to making a difference stands as a shining example for others to follow, embodying the true essence of corporate social responsibility.

For more information about the Acts of Kindness Program, visit MR.DIY’s official website or follow /mrdiyPH on Facebook, and @mrdiy.philippines on Instagram and Tiktok.

AGRI-REFORESTATION

HARVEST. Tarlac Heritage foundation co-founder Dr. Isa Cojuangco Suntay is joined by Armed Forces Chief of Staff Gen Romeo S. Brawner, Jr., Environment Secretary Maria Antonia Yulo-Loyzaga, Defense Secretary Gilberto C. Teodoro and LT. Gen. Roy Galido, with ASEAN ambassadors from Myanmar, Laos, Thailand, Brunei and Cambodia. They show their appreciation and happiness of the vegetable harvests from the Hardin Ng Lunas biodiversity farm inside the Camp O’Donnell in Capas, Tarlac.

Embrace the power of uncompromising love, limitless care and affection with your little ones, Treasured Moms

WITH every heartbeat shared with your precious little one, an eternal melody of emotions is composed, transcending all boundaries. Throughout the enchanting journey of motherhood, each decision you make resonates with the profound cadence of your limitless care and affection.

Imagine, if you may, a world where your baby’s comfort and protection are elevated to the level of the love that courses through your veins. Assure® Diapers transcend being a mere choice; they embody your unswerving commitment to nurturing every chuckle, every tranquil slumber, and the promise of nights embraced in serene dreams.

In this delicate symphony of parenthood, allergies often cast shadows of concern. However, with Assure®, those shadows disperse like morning mist, revealing a sunlit path of tranquility. The fleeting discomfort that traditional materials may bring transforms into a sanctuary of unadulterated contentment and cocoon-like security. As you gently envelop your little one in the tender embrace of Assure® Diapers, you’re wrapping them in the soothing warmth of your enduring love.

With every diaper change, you inscribe a testament to your unwavering commitment – a vow to safeguard your bundle of joy from even the faintest whisper of unease. Assure® Diapers are not just about comfort and protection; they are strands interwoven in a tapestry of

FWD Philippines jumps to 2nd place in Million Dollar Round Table Top 10 Companies in the country for 2023

FWD Life Insurance (FWD Philippines) has secured the number two spot in the Million Dollar Round Table (MDRT) Top 10 Companies in the Philippines for 2023, one rank higher than the previous year.

Meanwhile, FWD Group Holdings Limited (FWD Group) ranked number six in the MDRT Top 10 Multinational Companies, retaining its position from last year.

The MDRT is a global independent association recognized as the standard of excellence in the life insurance and financial services industries. The association requires members to serve clients with exemplary performance and the highest standards of ethics, knowledge, service, and productivity.

FWD Philippines President and CEO Manuel “Jumbing” De Rosas shared that he is proud of this achievement for FWD as it continues to help more Filipinos celebrate living.

“Bridging the financial and protection gap in the Philippines

remains a key focus for us and underscores our vision of changing the way people feel about insurance.

Having one of the highest MDRT memberships in the industry is a testament of our efforts in providing best-in-class customer experience and nurturing the next-generation of financial advisors,” said Jumbing. “We hope that our industry-leading and digital-enabled training and compelling career opportunities will lead to more agents achieving their best future.”

FWD Philippines Chief Agency Officer Adnelle Valeza also states that this recognition can help the company strengthen customer trust and loyalty.

Adnelle adds, “Ultimately, this spells a more enticing perspective for both our customers and clients because it provides better credibility for FWD not just in the local industry, but also in the regional rankings. This motivates us to further develop our training programs to provide exciting career opportunities that are intrinsically and financially

rewarding. We want to expand our network of financial advisors so we can reach more Filipinos to help them be financially secure and empower them to celebrate living.”

Attaining MDRT qualification by meeting the required high level of premiums, commissions or income during the year can be a long and difficult process for many life insurance and financial services professionals during their careers. For this reason, FWD Philippines have put in place training programs to assist our agents in their progression to MDRT qualification, including the MDRT Elite Learning Series, a quarterly learning session that captures the whole person concept, a core tenet of the MDRT culture.

FWD Philippines and FWD Group continues its trailblazing streak both within local and international industry rankings. Through this recognition, FWD moves forward with its mission to help more people celebrate living and help them build their best future.

love, care, and silent reassurances.

The odyssey of motherhood is an extraordinary narrative, punctuated by tranquil nights, whispered lullabies, and a myriad of heartwarming smiles. In each of these treasured moments, Assure® Diapers stands as your steadfast ally, empowering you to relish these fleeting instances without compromise.

For within the haven of Assure® Diapers, your love radiates boundlessly, and your baby’s comfort flourishes unreservedly, ushering in nights of tranquil slumber, where the absence of allergies lays the foundation for dreams woven from the threads of your unwavering care.

Ascott Makati Unveils Spectacular Ascott Soiree in Collaboration Fashion Designer Happy Andrada

ASCOTT Makati, the premier upper upscale serviced residence in the heart of the Philippines’ business district, is thrilled to announce the resounding success of its highly anticipated Ascott Soiree. This exclusive event marks a significant milestone for Ascott as it is part of the global launch of the brand’s refreshing new identity, featuring a curated local collaboration that celebrates the exquisite artistry of couture arts. The Ascott Soiree, held in the opulent Penthouse Suite, showcased Happy Andrada’s exceptional 10-piece fashion collection, infusing timeless Filipiniana heritage with the allure of contemporary design.

Cecille Teodoro, the General Manager of Ascott Makati, expressed her enthusiasm for the Ascott Soiree and the collaboration with Andrada, saying, “We are immensely proud to have hosted such a remarkable Ascott Soiree, celebrating the talent of Happy Andrada. This event not only reflects Ascott’s commitment to providing unparalleled luxury experiences but also showcases our dedication to supporting Filipino artists and promoting local creativity on a global stage. The success of the Ascott Soiree has inspired us to continue collaborating with more Filipino artists, enriching our future events and ensuring a seamless fusion of art, culture, and hospitality.”

The Ascott Soiree was an evening of elegance, sophistication, and creativity, where Andrada’s extraordinary talent took center stage. With an unwavering focus on couture

arts, the event showcased a mesmerizing display of digital prints inspired by the timeless Filipino craft of basket weaves and rattan. These exquisite prints were thoughtfully complemented by the rich textures of Philippine weaves, such as the renowned Binakol weave from Abra and various kinds of pineapple fabrics, adding a touch of opulence to each creation.

Ascott’s commitment to sustainability was flawlessly exemplified through Andrada’s creative vision. Embracing the use of indigenous materials and techniques in her couture arts collection, the designer showcased a profound appreciation for the environment and the preservation of cultural heritage. The collaboration stands as a testament to the brand’s dedication to sustainable practices and cultural responsibility. Ascott takes immense pride in supporting local talent and artisans. The Ascott Soiree was a testament to this commitment, offering a global platform for Filipino creativity and artistic excellence. The event underscored Ascott’s pledge to uplift and promote the talents of the nation, showcasing the Philippines’ artistic prowess on an international scale.

The resounding success of the Ascott Soiree and the positive response from attendees reinforce Ascott Makati’s position as an unrivaled leader in luxury hospitality. The event’s celebration of couture arts, sustainability, and cultural heritage sets the stage for a new era of curated local collaborations, promising more extraordinary experiences for guests and the wider community.

The event was made possible with the generous support of Laura Mercier, sponsoring hair and makeup services; Doreen Odvina Custom Shoes, providing elegant yet comfortable footwear; and Christopher Munar Accessories, adding the perfect finishing touches with their elegant creations. Raymund Ramirez Seranillo directed the soirée, ensuring an enchanting experience for all attendees.

MR.DIYs Senior Marketing Manager Charles Salecina (left) and Corporate Engagement Specialist Lorina Krish D. Atchico (right) of World Vision turned over donations to Melibeth Ruiz (middle), Principal of Concepcion Elementary School, Malabon.

Data centers: A shining star in the property sector

By Rizal Raoul S. Reyes

Monica Gonzalez, Santos Knight Frank Director and Data Centers Lead, Occupier Solutions and Services, pointed out that Covid-19 accelerated the dependence on data centers. With the demand for more video calls and hybrid work happening around the world, the demand for technology was quite obvious. The demand for co-location, internet, and cloud services required the need for sophisticated facilities based in-country. There is no turning back, according to Gonzalez, as the global data center market is estimated to grow at an average of more than 13 percent every year to $143.4 billion by 2027, according to Research and Markets. By 2023, Asia Pacific is predicted to account for 30 percent of global center revenues. “Excitingly, the Philippines is near the epicenter of this wave of developments happening across the region.”

Gonzalez said the Philippines has been on the radar for data center operators primarily for the local population’s high digital consumption. The heavy use of the internet and social media by the Filipinos rose by 6.1 percent and 22 percent respectively between 2020 and 2021, according to Hootsuite.

Furthermore, government support, infrastructure investment, growing renewable energy sector, and availability of engineering and IT talent have made investors take a closer look at the Philippines. “Lastly, the country offers an important factor that some established hubs cannot: available raw land. Indeed, this has been the primary constraint of data center sector expansion in areas such as Singapore,” Gonzalez said.

In fact, YCO Cloud Centers recently announced the construction of a 12-MW Data Center in Malvar, Batangas. The initial

phase involves the construction of a 10,000-sq-m 2-story Data Center, including the first of four 3-MW data halls.

“The data center market is an exciting space for the Philippines.

As the data center sector continues to grow alongside the increasing demand for data, we expect to see an upswing in activity for data center investments into the country,” Gonzalez said.

Going to the cloud

A BIG n umber of entrepreneurs are aware of the importance of digitalization. A majority (85 percent) of Philippine businesses plan a full-scale cloud migration in two years, while more than nine in 10 (91 percent ) of them will increase their investment in cloud in 2023, according to a survey entitled “The Next-Generation Cloud Strategy in Asia.”

The survey was commissioned by Alibaba Cloud, the digital technol -

A LiLy-inspired sAnctuAry in ALAbAnG: Our LAdy OF LOurdes chApeL

IT S e asy to get caught up in the frantic and busy environment of a metropolis and once in a while, we want a space for solitude and prayer, somewhere to pause from life’s daily grind even for just a quick moment.

This is the idea that prompted Filinvest Alabang Inc. to tap the awardwinning Japanese architectural firm Hiroshi Nakamura & NAP Architects to design the Our Lady of Lourdes Chapel that welcomes anyone seeking a much-needed meditation and prayer within the busy city.

The chapel stands out amidst the sharp geometric shapes of nearby office and commercial buildings. It has a distinctive design inspired by an inverted white Lily—the flower that perfectly represents the purity of Mother Mary. The towering structure, with its graceful curves that seem to open up to the skies, definitely exudes a serene and comforting atmosphere.

Located at the River Park in Filinvest City, the project’s lead architect and co-representative of NAP International Kohei Omori noted, “It would be great if people can make visiting the Our Lady of Lourdes Chapel a part of their daily life. The chapel is here to welcome them.”

“We made the connection between the kindness and gentleness of Mother Mary to the Lily. Through this concept, we envisioned an architecture that gently embraces people, and when the sunlight reflects on the chapel, the purity of the white Lily is emphasized,” he explained.

The chapel being built on a hill further adds to its welcoming nature.

Omori added, “It’s quite visible from afar. There are two streets that surround the site and a walking path and bridge. Instead of closing it off to the surrounding areas, we wanted it to be very open to the public so people feel that they can always come and visit

the chapel.”

These special qualities are complemented by the chapel’s sustainable features that ensure visitors remain comfortable while doing their reflections. “The top portion of the chapel acts like a funnel. Heated air is essentially exhausted to the outside, which will then draw in a cool air inside with the help of the creek nearby.”

He also shared, “Acoustic was also a very important criterion that we had to overcome [to enrich the worship experience], and because this is a place to reflect, we wanted to allow people to feel the passing of time throughout the day, through the natural light reflecting inside the chapel.”

For Omori who believes that design is something that should affect people emotionally and spiritually, this collaborative work with Filinvest and different craftsmen from all over the world is solid proof of this belief: “Just seeing how people interact with the building and looking at how they spend their time inside the chapel made us realize that we did succeed in allowing this to be part of their daily life, which was one of our goals since beginning this project,” he concluded.

“The dream for Filinvest City has

always been to build an environment that inspires and enables possibilities,” shares Francis Gotianun, Director of Filinvest Development Corporation. “Once everything was built and done, we wanted to finally welcome her [the Chapel] to Filinvest grounds so that the community may have another space where they can feel safe, protected, and at peace.”

The Our Lady of Lourdes Chapel is open daily from 6 am to 9 pm. Regular masses are scheduled once a day every Saturday at 5 pm and twice a day on Sunday at 10 am and 3:30 pm. Mass on a First Wednesday and First Friday may be celebrated upon the availability of the priest.

“We hope that through this chapel, people can see that, amidst the vibrant Filinvest City, there’s always a safe space where they can be still and silent. We are happy to have worked with the expert team of Hiroshi Nakamura & NAP Architect to design the Our Lady of Lourdes Chapel,” said Don Ubaldo, First Vice President for Project Development Townships, Filinvest Alabang Inc.

For more information and chapel inquiries, visit the official Facebook Page of Our Lady of Lourdes Chapel @LourdesChapel.Alabang.

ogy and intelligence backbone of Alibaba Group.

Moreover, the study observed that a spike in interest among local businesses is driven mainly by the rapid growth of the local data center market (78 percent) and the government’s steadfast plan for digitalization (79 percent). When it comes to selecting cloud vendors, security (85 percent), availability (74 percent) and expertise (62 percent) are the key factors considered by Philippine businesses, the survey shows. Businesses in the Philippines lead the pack on prioritizing security among its Asian counterparts followed by Indonesia (82 percent) and Thailand (78 percent ).

“Alibaba Cloud has prioritized providing highly scalable, robust and secure infrastructure to Philippine businesses. As we anticipate a rise in cloud adoption, Alibaba Cloud is committed to offering innovative and proven

cloud solutions and services to Philippine businesses,” said Allen Guo, Country Manager for the Philippines, Alibaba Cloud Intelligence in a recent roundtable held in Makati City.

In the survey, the majority of the respondents revealed that insufficient training for employees is among the top barriers to cloud adoption. To help address this challenge, Alibaba Cloud has partnered with local IT-focused educational institutions—such as Asia Pacific College—to train and strengthen the cloud computing competencies of teachers and students as part of its efforts to support local digital talent empowerment in the Philippines.

“The future landscape of cloud computing lies in the hands of the next generation, and as educators, it is our duty to foster and nurture their digital talents. Our recent collaboration with Alibaba Cloud has been instrumental in

accelerating our mission to equip students with the essential tools to thrive in the current scenario, especially with the rising demand for cloud computing in local businesses,” stated Rhea-Luz Valbuena, Executive Director, School of Computing and Information Technologies, Asia Pacific College, from the event.

During the roundtable, Alibaba also introduced new enterprise and sustainability solutions—including Wuying Workspace and Energy Expert—to meet Philippine customers’ intelligent transformation demands.

To provide Philippine businesses with unlimited computing power without making significant upfront hardware investments, Alibaba Cloud offers Wuying Workspace, a secure cloud-based solution that enables desktop environments to be created, deployed and managed quickly and easily.

American Standard honors bathroom space designers in Asia Pacific

By Roderick L. Abad

LIXIL, the pioneer of water and housing products, feted the winners and finalists from the American Standard Design Award (ASDA) 2023 during an awards ceremony and exhibition held recently at The Arts House Singapore.

Themed “A Home to Love, A Space for Everyone,” the ASDA aims to uncover the power of design in creating a well-loved bathroom space of a home.

On its second edition, the competition was launched and opened for sophomore and above tertiary design school students from 10 countries across Asia Pacific (AsPac): Australia, Cambodia, India, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

It received close to 1,500 entries—a two-fold increase from last year—which were adjudged by creative minds and thought leaders in each country and the entire region.

At the national level, a judging panel made up of architecture and design luminaries from each country evaluated entries from local participants.

The 1st prize winners from their respective countries were Azra Hrnjic (Australia), Riya Awati (India), Sin Ponleu from IndoChina (Cambodia/Laos/Myanmar), Grace Wong Jing Yee (Malaysia), Aevan Georgeline de Jesus (the Philippines), Rossalinda (Singapore), Marisa Chonpracha (Thailand), and Duong Pham Ngoc Hoai (Vietnam).

The regional contest had each of them evaluated again by the AsiaPacific judging panel to determine the APAC grand prize awardee.

Ponleu emerged as the victor.

“I am very grateful for this achievement; it has been such an incredible experience for me to move forward to higher levels. With this achievement, I will remember to keep pushing myself to improve and continuously learn new things, all in the pursuit of enhancing the quality of life through architecture,” he said.

For Arch. Le Troung, founder and chief executive officer of TTAssociates and one of the APAC jury members, judging this year’s designs was impressive as the contestants showed an in-depth understanding of each space, material, color, lighting, and ventilation conditions.

“Overall, the entries reflect clear purpose, attractiveness, allure, and high feasibility. And within it, there are technical elements, sanitary technology, convenience, and aesthetics as core values that we all aim for. ASDA has played a very crucial role in initiating and creating challenges for young designers,” he said.

This annual recognition was organized as a platform to hone and honor exceptional talent in the industry, according to LIXIL Global Design Asia leader Antoine Besseyre des Horts.

“We are thrilled to honor the winners and showcase their groundbreaking ideas. Through its rich history of over 140 years, American Standard has continuously set new benchmarks in delivering bathroom solutions that combine purposeful designs and pioneering technologies. American Standard continues to be trusted by generations for its progressive and dependable products. This event not only celebrates their achievements but also acts as a catalyst for further innovation and collaboration for sustainable architecture and design,” he said. Each of the national winners brought home a cash prize of $2,000. The APAC grand prize winner walked away with $5,000. They also joined in a half-day tour and a design workshop at the LIXIL Design Centre in Singapore.

First of two parts

The data center market is one of the bright spots in the country’s realestate sector.

for technology and development and Operations, Greg igaya, Globe business Field chief technology Officer for c oud and cybersecurity, Kristofferson de Ocampo, and Asia pacific college executive director, school of computing and information technologies, rhea-Luz Valbuena

A rendered image of the $500-million state-of-the-art ycO data center facility in batangas, philippines. from Santo S Knight fr an K webS te

FrOM left, LiXiL Myanmar leader, indochina LW t ApAc thongchai phanuwongcharoen; re: edge Architecture, cambodia principal architect and founder hun chansan; LiXiL LW t ApAc leader satoshi Konagai; ApAc grand prize winner/1st prize winner from indochina (cambodia/Laos/ Myanmar) sin ponleu; LiXiL Global design Asia leader Antoine besseyre des horts; and Aerne Architects & Associates co., Ltd. cambodia Martin Aerne

Our Lady of Lourdes chapel has a distinctive design inspired by an inverted white Lily that perfectly represents the purity of Mother Mary.

SPAIN IN FINAL Olga Carmona celebrates with her teammates after she scores the winning goal for Spain against Sweden, 2-1, in the Women’s World Cup semifinal at Eden Park in Auckland, New Zealand, Tuesday. AP

Senator Bong Go bats for more cash incentives for para athletes

SENATOR Christopher “Bong”

Go stressed his support to the country’s para athletes as the Senate tackled a bill seeking to upgrade incentives for the differentlyabled who represent and win medals in international competitions.

Through the years, we have witnessed how the Filipino athletes stand out in various international sports competitions, such as the Southeast Asian Games, Asian Games, Para Games, world championships and the Olympics,” Go said during Monday’s hearing. “We can excel in sports with hard work, perseverance, and determination.”

G o is the author Senate Bill No. 2116, which seeks to amend Republic Act No. 10699 or the “National Athletes and Coaches Benefits and Incentives Act” the Senate Committee on Sports, which he chairs, tackled during the hearing.

He emphasized the need to further recognize para-athletics on the same footing as other international competitions.

The proposed measures seek to upgrade the incentives for para athletes to be at par with other international competitions of the same caliber,” Go said. “This bill intends to provide equal opportunities and recognition to all athletes, thereby promoting

PANLILIO: WE ARE READY

By Josef Ramos

SIXTEEN countries

playing 52 games in 16 days of basketball in two competition venues with the world watching and the Philippines is ready to host the International Basketball Association (FIBA) 2023 World Cup.

“ Everybody is ready to go,” Al Panlilio, head of the Local Organizing Committee and president of the Samahang Basketbol ng Pilipinas (SBP) declared on Wednesday.”

I’m hoping for the best World Cup ever for FIBA, not only showing the world that we can host an international event like this, but really the hospitality of the Filipino people,” Panlilio added in the special session of the Philippine Sportswriters Association Forum at

the Meralco Conference Hall along Ortigas Avenue.

Panlilio made the declaration just 10 days before most of the world’s best basketball players representing 16 of the 32 teams that qualified for basketball’s most important tournament start descending at the Ninoy Aquino International Airport.

The [whole] Local Organizing Committee [LOC] has been tireless when it comes to the World Cup preparations and I have full belief that we can provide a hosting like no other,” added Panlilio, who was joined in the forum by deputy event director Erika Dy, joint management committee head John Lucas and SBP executive director Renauld “Sonny” Barrios.

The venues for the games are Smart Araneta Coliseum in Cubao and Mall of Asia Arena in Pasay City, both spruced up to FIBA-standards for the World Cup that happens once every two years.

But the cavernous 55,000-seat Philippine Arena was added to the list to host the Philippines’ opening

match with the Domican Republic where the country aims to break the FIBA record for the most number of fans watching one World Cup Game.

We are really primed to beat the 32,616-crowd record,” said Dy, referring to the 1994 FIBA World Cup final in Toronto where a Shaquille O’Neal-led Team USA won the title by beating of Russia. “We are very close to the goal, but not yet there.”

D y said that ticket sales to the Philippine Arena game are close to breaching the 30,000-mark, adding that the LOC are initiating measures and promos to guarantee that the Philippines get on the FIBA map with a flourish as host.

Panlilio said members of the FIBA working staff are already in the country as pre-World Cup events commence next week beginning with a welcome dinner on Monday for the delegates of the different national federations who will be attending the FIBA National Congress set on August 22 and 23 at Sofitel.

On August 23 will be the FIBA Hall of Fame ceremony where the country’s

pride, Carlos “Caloy” Loyzaga, will be poasthumously enshrined.

Panlilio also said that believes the LOC, in cooperation with relevant government agencies, has done its part in putting up a premium hosting experience for the teams.

World Cup work kicked off 522 days ago from the Mount Malarayat Workshop and under three weeks to Day 1 of the World Cup on August 25, the LOC has, at a glance, has fully activated 210 workforce, deputized close to 500 security personnel from local government units and relevant government agencies, contracted 202 official vehicles and sold more than 600,000 tickets.

A ll of that to guarantee a successful and unforgettable World Cup where the protagonists— including those playing the group stage simultaneously in Japan and Indonesia—are after one goal—the Naismith Trophy.

A nd the Philippines’ other important goal? Finish as the bestplaced Asian team to secure a ticket

Capiz’s Prebillo, Bantayan’s Molina wins 1st gold medals

PIEPET PREBILLO of Filamera

Christian School in Capiz City ruled the women’s 200 meters and Peter Molina of West Visayas State University followed suit in the men’s side to emerge as the first gold medal winners in the Philippine Reserved Officers Training Course Games Visayas Leg on Tuesday at the Iloilo Sports Complex in Iloilo City.

P rebillo, a 20-year-old Army cadet and a Criminology sophomore, clocked 27.91 seconds to bring

home the gold medal, while Molina, a Physical Education junior, won in 23.50 seconds.

The revival of the ROTC would really help students to be guided in the right direction through discipline,” said the 20-year-old  Molina, an Air Force cadet.

“ It’s good that our officials revived the ROTC because this would help students become good leaders and veer away from vices,” Prebillo said.

MVP on Filipinas at World Cup: It’s a good start

THE MVP Group led by PLDT Inc. (PLDT) and MVP Sports Foundation (MVPSF)

Chairman Manuel V. Pangilinan congratulated members of the national women’s football team Filipinas for their historic campaign in the FIFA Women’s World Cup in New Zealand.

It’s a good start for the Filipinas.

Keep it up!” said Pangilinan, who was joined by PLDT and Smart Communications President and CEO Alfredo Panlilio and PLDT Leadership

Transition Officer Ricky Vargas, as well as PLDT and Smart FVP and MVPSF Executive Director Jude Turcuato at the PLDT offices in Makati City. We hope to see more of you in succeeding World Cup tournaments,”

Pangilinan told the team. “We also would like to congratulate PFF [Philippine Football Federation] for gathering these talented young women to represent the nation.”

PFF president Mariano “Nonong”

Araneta accompanied the Filipinas, who first made world football history

Sotto like raincoat in the rain

C adets from the University of Negros Occidental-Recoletos of Bacolod City, meanwhile, dominated the men and women 4x100-m relays.  David Paul Balagat, John Lloyd Moreno, Romeo Constancio and Christian Sericon won gold in 49.6 seconds while Angelica Pacaro, Marla Jean Pacaro, Ciara Largavista and Jocel Talaver ruled the distaff race in 57.7 seconds.

I loilo Science and Technology (ISAT-U) won by forfeiture over

to the Olympics in Paris next year.

“Get at least two wins,” said Panlilio as he expressed hope and added confidence on Gilas Pilipinas playing beyond expectations in Group A where it will face, besides the Domican Republic, Angola and Italy. The Philippines last played in the Olympics in 1972 in Munich.

Salazar College of Science and Technology (SCSIT) of Bantayan (Cebu) in women’s volleyball at the University of San Agustin gym.  SCSIT missed their game because their service vehicle driver arrived late to pick them up from their billeting facility. The tem beat Capiz State  University (CAPSU), 25-9, 2510, 25-10, Monday.

Leyte College-Tacloban (LCT) proved too much for CAPSU, 25-13, 257, 25-8, in the other match.

Our team is trying to cope up with the pressure. Hopefully we can advance to the next round and get the No. 1 spot,” LCT coach Bob Montejo said.

inclusivity and diversity in sports.”

Highlighting the equal efforts and honors brought by para athletes, Go said that they worked hard to become athletes and that “being disabled doesn’t mean their incentives rank differently because they reap the same honors for the country.”

G o drew more inspiration to work harder for the bill from Angel Mae Otom, a medalist swimmer at the 12th ASEAN Para Games in Cambodia last May.

“ We will be forever grateful if the bill is passed into law,” Otom said. “This will be of great help to us para athletes, especially the veterans who have reaped honors for our country and to the future generation who’ll give the country even more accolades.”

G o emphasized how the achievements of the athletes have become a source of national pride. He further insisted that disabilities should not lessen the honor for the para athletes, urging his colleagues in the Senate to support the bill as he emphasized that “investments in sports can elevate the youth and protect them from detrimental vices.”

“ Why do our para athletes receive less attention?” Go asked during the hearing. “What is the Philippine Sports Commission doing to give equal importance to them?”

“ These financial incentives are not just rewards but a recognition of the effort, commitment, and perseverance of our para athletes,” said Go, reiterating his dedication to supporting and empowering athletes, both in their athletic pursuits and life beyond sports.

‘Cong Franz’ tells Pagcor to review online betting services’ licenses

By Jovee Marie N. Dela Cruz

ALAWMAKER on Tuesday called on the Philippine Amusement and Gaming Corp. (Pagcor) to review the operations of its licensed online sports betting service providers that could give rise to game fixing and compromise the morals and livelihood of athletes.

Q uezon City Rep. Franz Pumaren, in a statement, asked for a review of sports betting operations as the House Committee on Appropriations began discussions on Pagcor’s proposed 2024 budget.

The lawmaker recalled a recent game of the Philippine Basketball Association’s (PBA) D-League that had to be called off as both teams apparently refused to win. The game was featured in one of the 15 Pagcor service providers for both onsite and online sports betting.

“ I think we will have to take a deeper look at it. As a sportsman, I know what is really happening, it is becoming a tool not only for really friendly sports betting. We will have to review it,” Pumaren told Pagcor.

He said the gaming regulator should coordinate with the PBA to review at least the said D-League game.

by qualifying for the event’s biggest stage and scoring the country’s first goal through Sarina Bolden and Olivia McDaniel’s impressive goalkeeping performance against host New Zealand in the World Cup.

The MVP conglomerate and MVPSF have long been staunch supporters of the development of sports for Filipinos.

I n particular, the group has supported football more than a decade ago through the PFF-Smart National Club Championships.

WE continue to be deeply enamored with Kai Sotto because his 7-foot-3 height easily makes him one of the tallest players in the Federation Internationale de Basketball (FIBA) set to start on August 25 at the Philippine Arena in Bulacan.

A s the game’s tireless saying goes, “height is might.”

For sure, Sotto, 21, will be a big boost to our FIBA campaign. Having him in the Gilas squad is like providing one ample raincoat in the rain. If he could exploit his potential to the fullest, his ceiling would assure us stability at the slot. A basket scored usually starts with the rebound.

The promise that Sotto packs is palpable. What he brings to the table when FIBA action is finally on is what matters in the end.

I ’ve been saying all along that Sotto might have veered away from the start regarding his priorities. To me, he has spent so much precious time expending his energy somewhere other than the real task at hand: Be with the

Gilas squad from Day One.  He wandered into hostile National Basketball Association territory without a surefire assurance of success. He went to Adelaide, only to painfully warm the bench in the Australian league as what had also happened to him in Orlando. Was he not benched in the Magic’s first two games—surely a heartbreaking moment?

I ’m not saying those forays were all useless. Sure, they helped hone Sotto’s game. The experience he gained there are lessons that should readily sharpen his skills—that is, if he kept a serious tab on his battles.

Still, had he devoted more of his time to the Gilas program in the run-up to the FIBA Worlds, he might have scored more pluses insofar as growing, improving, his game is concerned.

I n every team sport, blending and jelling are supreme considerations, and basketball is no exception.

Pagcor lists 15 companies licensed to operate sports betting—PhilWeb Corp., Orient Capital Ventures, Jade Entertainment and Gaming Technologies, Total Gamezone Xtreme, Glowlight Corporation, Breddas Inc., Infinitech Digital Gaming Corp., Kingwin Ventures, Trojans Well Entertainment Corp., Las Casas Gaming, Sandbox Entertainment, Silver Goose 8 International, GoTech Entertainment and One Visayas Gaming Corp.

Pagcor Assistant Vice President Jeremy Luglug told the committee that these licenses only cover local sporting events like basketball, and does not offer betting options for international sporting events.

A lready, how many Gilas games overseas has Sotto missed? A lot. The skirmishes alone in Europe were all bigtime outings, not to mention that the China tournament also tested our team’s readiness for the Worlds.

So that as things stand now, Sotto seems short of the much-needed toughening matches.  And, pitifully, his aching back (due for final assessment yesterday) he had incurred in Orlando continues to hound him.

Here’s praying Sotto got a clean bill of health to certify his re-entry into active Gilas duty.

We still need him in the Fiba mission, my golly.

THAT’S IT Here’s to my dear friend, Evelyn Quinsay, for a strong runner-up finish in the just-ended 31st Durian Tee in Davao City’s tough Apo Golf & Country Club. She missed winning the Gross Championship by a single point. Keep punchin’, Evelyn. Cheers!

THE Filipinas and Philippine Football Federation President Mariano Araneta pay a courtesy call to PLDT and MVP Sports Foundation Chairman Manuel V. Pangilinan, PLDT and Smart Communications President and CEO Alfredo S. Panlilio and Leadership Transition Officer Ricky Vargas

AL PANLILIO airs confidence the Philippines will emerge as a World Cup host to remember.