BusinessMirror August 24, 2021 by BusinessMirror

No early relief seen for veggie price spike By Jasper Emmanuel Y. Arcalas

@jearcalas

HE prices of vegetables in Metro Manila wet markets continue to increase, with certain crops being even more expensive than some meat products as the country grapples with supply issues. Government price monitoring reports showed that the average prices of vegetables have risen for one straight month after production areas were battered by weeks-long rains brought about by the Habagat (southwest monsoon) last month. The average price of cabbage has more than doubled to P220 per kilogram from P80 per kilogram recorded

last month. Cabbage prices now range from a low of P180 per kilogram to a high of P300 per kilogram. The average price of pechay (baguio) is now 233 percent higher than its previous month price level as it fetches between P150 and P270 per kilogram. In comparison, the price of a fullydressed whole chicken in Metro Manila wet markets ranges from P125 per kilogram to P170 per kilogram, reports showed. Carrot prices doubled to P140 per kilogram, eggplant is up by 75 percent to P100 per kilogram; while both squash and ampalaya prices rose by 25 percent month-on-month to P50 per kilogram and P100 per kilogram, respectively.

The average price of chayote is now at P70 per kilogram versus P40 per kilogram last month, while Baguio beans price increased by 25 percent to P100 per kilogram. Department of Agriculture (DA) officials attributed the price spikes to the adverse impact of Typhoon Fabian and monsoon rains to vegetable farms in Cordillera Administrative Region (CAR), Regions 2, 3, and 4A. In the CAR region alone—the country’s top source of highland vegetables—the estimated damage to vegetable production reached P80 million, DA CAR Regional Executive Director Cameron P. Odsey said. “The volume of vegetables being traded now in La Trinidad [trading

posts] is declining. Before the Habagat damage, which is up to early August, we were seeing volumes that are bound for Manila at 1,500 metric tons daily,” he told the BusinessMirror. “Then the volume being traded gradually decreased to 1,400 metric tons, 1,300 metric tons, and now we are seeing only 1,000 metric tons per day,” he added.

Till November, December

Consumers may have to endure the high prices for a little longer as highland vegetable supply may only recover in the latter part of November to early December, Odsey explained. Continued on A5

GOVT ’22 BORROWINGS

Tuesday, August 24, 2021 Vol. 16 No. 314

P25.00 nationwide | 2 sections 30 pages |

CUT TO P2.5T FROM P3.1T See “Lockdowns,” A5

Members of the Pasig Rescue team measure cracks on Topaz Road in Barangay San Antonio in the Ortigas business district on Monday (August 23). The cracks, stretching around 50 meters, appeared following a severe thunderstorm on Sunday, but experts ruled out a direct hit by lightning or an earthquake fault’s movement as the cause. Mayor Vico Sotto’s office has tasked engineers to submit a report right away. Story on A5. ROY DOMINGO By Bernadette D. Nicolas @BNicolasBM

YEING a smaller budget deficit, the government has set a smaller borrowing program for next year at P2.47 trillion, down by nearly a fifth from P3.07 trillion this year. Broken down, the government will be borrowing P1.91 trillion from domestic sources while the remaining P560.58 billion will come from external sources, 2022

budget documents showed. National Treasurer Rosalia V. de Leon told reporters that next year’s borrowing program is smaller due to the expected reduction in the

budget deficit. In its July meeting, the Development Budget Coordination Committee (DBCC) said it expects the national government’s budget deficit to go down to P1.67 trillion or 7.5 percent of the country’s GDP from the programmed P1.86 trillion this year or 9.3 percent of GDP. The government’s budget deficit stood at 3.4 percent of GDP or P660.2 billion in pre-pandemic 2019, and this has more than doubled to a record-high 7.6 percent of GDP or P1.37 trillion in 2020. The government expects the downtrend in the budget deficit starting 2022 as the rise in revenues

is expected to outpace the increase in disbursements. Interestingly, the 2022 budget document did not state if the government will once again borrow from the Bangko Sentral ng Pilipinas (BSP), as it did while shoring up funds for the Covid-19 pandemic response. However, De Leon clarified that they are not closing any doors, saying “it is still available.” “We did not say no more BSP borrowings. It depends,” she said. The last time the BSP extended a P540-billion short-term loan to the government was back in July. Continued on A5

Pay-hike bill targets 200K private HCWs By Samuel P. Medenilla

@sam_medenilla

ROUND 200,000 private sector health-care workers (HCW) are expected to get better working conditions from the proposed legislation of the Department of Labor and Employment (DOLE), which will upgrade their benefits so it will be on a par with those enjoyed by their public sector counterparts. Labor Secretary Silvestre H. Bello III announced on Monday he will be endorsing the bill to Malacañang so it could be certified as urgent by President Duterte. DOL E c a me out w it h it s

“Since they have more earnings now that they have more patients, it is only fair that they....give the health-care workers in their sector the same benefits that health-care workers in the public sector are getting.” —Labor Sec. Bello

PESO exchange rates n US 50.4240

proposed bill, which specifically benefits entry-level private sector HCWs, after conducting stakeholder consultations. “Anytime now we are expected to submit our recommendation to the Cabinet assistance group for them to gather or collate all this recommendation regarding the proposed bill to improve the benefits of our health-care workers in the private sector,” Bello said in an online press briefing on Monday.

Benefits disparity

Currently, HCWs, particularly nurses, earn higher in government facilities than if they work in private companies.

DOLE noted an entry-level nurse in private institutions earns an average of P9,757 per month, which is lower compared to the P13,500 in government health facilities. The monthly pay for government nurse 1 position was adjusted last year and is now pegged at P22,316. Some HCW groups in private health-care facilities have recently threatened to hold a “medical lockdown” unless their demand to get similar benefits provided to public sector HCWs under the Bayanihan to Recover as one Act (Bayanihan 2) are also extended to them.

MANILA TRAILS ASEAN-5 PEERS IN SAFE CITIES INDEX, RANKS 51ST OF 60 By Cai U. Ordinario @caiordinario

E A K persona l and health security made Manila the least safe city compared to other Asean-5 cities included in the 2021 Safe Cities Index (SCI) released by the Economist Intelligence Unit (The EIU). Based on the data, Manila ranked 51st out of 60 cities in the 2021 SCI with an overall score of 52.5 out of 100. This is below the average score of 66.1 out of 100. In the Asean-5, Singapore ranked 3rd overall with a score of 80.7 of 100; Kuala Lumpur, 32nd and a score of 66.6; Bangkok, 43rd with a score of 60.2; Ho Chi Minh City, 45th with 58.5; and Jakarta, 46th, 56.4. “The pandemic is an immediate health challenge, but it has also created a potential turning point across every pillar of urban safety. A renewed, more holistic understanding of urban safety gives hope for cities that are not just more

secure, in every sense, but more sustainable and enjoyable places in which to live,” the EIU white paper stated. The index measures safety by looking at five pillars of security —digital security; health security; infrastructure security; personal security; and environmental security. Manila’s lowest score was 46.4 for personal security where it ranked 55th, tied with Bangkok. This pillar measures crime and terrorism as well as the government’s efforts to respond to them. In terms of health security, Manila scored 49.9 out of 100 but was ranked 54th out of 60 cities worldwide. The city’s score was higher in digital security where it scored 47.4 but ranked higher at 49th out of 60. Manila also ranked 52nd out of 60 in terms of infrastructure security where it scored 52.9 out of 100. The city’s best ranking was 41st for environmental security where it scored 65.9 out of 100. Continued on A5

See “Pay-hike,” A2

n japan 0.4594 n UK 68.6926 n HK 6.4726 n CHINA 7.7561 n singapore 37.0139 n australia 35.9170 n EU 58.9961 n SAUDI arabia 13.4457

Source: BSP (August 23, 2021)

News

BusinessMirror

A2 Tuesday, August 24, 2021

Partial data shows plunge in private-school enrollment

By Claudeth Mocon-Ciriaco | Correspondent

ARTIAL enrollment data of the Department of Education (DepEd) showed that the number of enrollees in private schools nationwide was lower, registering only 118,000, compared to the 2 million students who were enrolled in school year (SY) 2020-2021, in the first pandemic year. “As of today [August 23], there are only 118,000 enrollees in the private basic education schools, out of 2 million students last academic year SY 2020-2021, based on DepEd’s partial data,” Coordinating Council of Private Educational Associations of the Philippines (Cocopea) Chairman Dr. Anthony Tamayo said in a statement on Monday. Prior to the pandemic in SY 2019-2020, the enrollment in private basic education schools was at

4.3 million students. “This latest enrollment data emphasizes how the pandemic has affected the viability of private educational institutions and the urgency of a policy intervention from the government,” Tamayo said. He added: “With the few remaining number of days in the legislative calendar and the number of urgent measures lined up in Congress, we are racing against time to have the law enacted in this 18th Congress.” He stressed that this legislative

policy intervention, once enacted into law, will “provide” the needed stability to education not only in this time of pandemic but also for generations to come, as it aligns with all existing and future initiatives to revive our battered economy. “We further hope for the prompt action of the Senate on the measure as declared by Sen. Pia Cayetano, the Chair of the Senate Ways and Means Committee as it now shifts the legislative process from the lower House to the Senate,” the Cocopea official said.

Delta threat

Despite the threat of Covid-19 and its variants, particularly Delta, Tamayo stressed that private schools are committed to continue with online learning to keep both students and teachers safe. Tamayo said online learning has been their main teaching method during the pandemic as they adapt to a “better normal.” “Cocopea member-schools are resolved to continue with online learning for this school year. The presidents of the associations that comprise Cocopea agree that the safety of our students and stakeholders at this time of the pandemic is our paramount concern.” At present, Cocopea memberschools are devoting their resources to online learning, including teacher-training and upgrading of their

IT infrastructure. “Online learning allows us to keep both our students and teachers safe while accomplishing our mission of delivering quality education,” he said. “We are also committed to follow health and safety protocols in the workplace as outlined by the concerned government agencies like the IATF [Inter-Agency Task Force] Department of Labor and Employment, Department of Health, and the Commission on Higher Education. We have been strictly enforcing these protocols since the pandemic began. We continue to be cautious and practice vigilance, especially now with the spread of the Delta variant,” he assured. Founded in 1961, Cocopea is the umbrella organization of private schools in the country and takes the lead in public policy development for the sector. Some 2,500 private schools around the country are part of this umbrella organization. The other associations that comprise Cocopea are: Philippine Association of Colleges and Universities (PACU); Catholic Educational Association of the Philippines (CEAP); Philippine Association of Private Schools, Colleges and Universities (PAPSCU); Association of Christian Schools, Colleges and Universities (ACSCU); and the Tech-Voc Schools Association of the Philippines (TVSA).

House…

Continued from A12

Budget OIC-Secretary Tina Rose Canda was unable to present the budget documents, having tested positive for Covid-19, which earlier also infected her predecessor, Wendel Avisado. The proposed P5.024-trillion budget bill was said to be 11.5 percent higher, or P500 billion more in next year’s budget compared to this year’s P4.5-trillion budget. In accordance with the rules, the Senate Finance Committee, chaired by Senator Angara, will spearhead scrutiny of the annual multitrillionpeso budget bill before the annual money measure is submitted for plenary approval. But while the Senate Finance Committee and its sub-committees can conduct hearings on the national budget, senators will still need to wait for congressmen to approve their version of the budget bill as the rule provides that all money measures must emanate from the House of Representatives. Butch Fernandez, Jovee Marie N. dela Cruz

Pay-hike…

Continued from A1

These benefits include life insurance, paid residence, free transportation, free food, hazard pay, and medical allowance.

Legislation support

Bello said he is confident the legislation will still be passed into law before the end of the term of Duterte, since it is being supported by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) and some lawmakers. He added that many health-care facilities have registered more profit amid the Covid-19 pandemic. “Since they have more earnings now that they have more patients, it is only fair that they should give the health-care workers in their sector the same benefits that the health- care workers in the public sector are getting since they rendered the same services,” Bello said.

www.businessmirror.com.ph

Congress gets last Duterte budget, at P5.024T, for ’22 Continued from A12

The DBM said about P45.4 billion is also provided under the proposed FY 2022 Unprogrammed Appropriations to cover the Covid-19 booster shots of 93.798 million fully vaccinated Filipinos. Meanwhile, it said P17 billion will also be allotted for the continuous hiring and deployment of health service professionals through the Human Resources for Health Program. On the other hand, to further strengthen the capacity of the health-care sector and improve medical infrastructure, the department said P19.6 billion is allocated for the construction and upgrading of health facilities and purchase of medical equipment and ambulances under the Health Facilities Enhancement Program. Of this amount, it added P1.4 billion will cover the requirements for newly established government hospitals; and P106 million, to ensure the efficient health facility referral system of the One Hospital Command Center. DBM said government will continuously invest in medical research and development (R&D) by allocating P1.3 billion to support the Covid-19 R&D efforts of the Department of Science and Technology. This includes P983 million allotted to set up the Virology Science and Technology Institute of the Philippines and P140.0 million for the conduct of biosurveillance and immune-biosurveillance of Covid-19 variants under the Philippine Genomic Information and Resource Hub.

Recovery

Recognizing of the community quarantine measures on the most vulnerable groups of the country, the DBM said the national government packaged the 2022 NEP to provide essential funding support to foster socioeconomic recovery. To help displaced workers affected by the pandemic, P21 billion was allotted for the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) Program of the DOLE. Meanwhile, budgetary support will also be provided under the Emergency Repatriation Program (P11.2 billion) and Reintegration Services Program (P52.7 million) to assist our repatriated OFWs. Social protection programs of the DSWD such as the Pantawid Pamilyang Pilipino Program (P115.7 billion), Protective Services for Individuals and Families in Difficult Circumstances (P18.0 billion) and Sustainable Livelihood Program (P4.9 billion) will safeguard the poor and the vulnerable, the DBM said. In education, P49.7 billion is allocated for the programs of the CHED and Tesda under the Universal Access to Quality Tertiary Education Act. The government has also provided budgetary support for the DepEd’s banner programs, such as the Basic Education Learning Continuity Plan (P15.1 billion) to cover the development, reproduction, and delivery of 924 million learning modules, and the Computerization Program (P11.6 billion) to cover the procurement of 108,177 packages of ICT-related equipment. The DBM said the National Irrigation Administration’s irrigation services and DA’s National Rice Program will be allocated with P21.8 billion and P15.7 billion, respectively.

Infra development

To boost economic recovery and provide a modernized public transport system, the government will continuously invest in the Build, Build, Build Program. Of the 2022 NEP, P1.180 trillion is provided for infrastructure. “This is equivalent to 5.3 percent of GDP and shall be allocated for the major programs of the DPWH and DOTr, such as the Network

Development Program [P128.1 billion], Flood Management Program [P113.5 billion], Rail Transport [P110.9 billion] and Land Public Transportation Program [P13.9 billion],” DBM said.

By class

The DBM said bulk of the budget, in the amount of P1.456 trillion or 29.0 percent of the FY 2022 NEP, will go to Personnel Services expenditures for the hiring of health-care workers and teaching personnel, the implementation of the third tranche of the Salary Standardization Law V, and the requirements of the 2018 Military and Uniformed Personnel pension arrears, among others. Capital Outlays are pegged at P939.8 billion while Maintenance and Other Operating Expenditures will reach P777.9 billion next year, it said. The agency added the debt burden amounts to P541.3 billion, which corners 10.8 percent of the 2022 NEP and is lower by 3.4 percent year-on-year. It said the support to government-owned and -controlled corporations, composed of national government subsidies and equity, sums up to P178.0 billion while tax expenditures remain the same with this year’s level at P14.5 billion. The DBM also said the allocation to local government units (LGUs) will amount to P1.116 trillion. This includes the P959-billion National Tax Allotment share of LGUs, consistent with the Supreme Court ruling on the Mandanas-Garcia case.

By sector

The Social Services sector will still receive the biggest chunk of the 2022 NEP with P1.922 trillion, higher by 15.2 percent than this year’s allocation. According to the DBM, this will fund health-related services such as the continued implementation of the Universal Health Care Act, purchase of Covid-19 vaccines, procurement of personal protective equipment, and others. Educationrelated programs, including the implementation of the Universal Access to Quality Tertiary Education, will also be prioritized. Next is the Economic Services sector, which gets P1.474 trillion or 29.3 percent of the proposed budget, the DBM said. This inched up by 11.4 percent compared to the FY 2021 budget and will largely support flagship programs under the Build, Build, Build Program. Meanwhile, the General Public Services sector is allocated with P862.7 billion (17.2 percent), the Debt Burden with P541.3 billion (10.8 percent), and the Defense sector with P224.4 billion (4.5 percent).

Top 10

The DBM said the education sector covering the Department of Education (DepEd), State Universities and Colleges and the Commission on Higher Education (CHED), shall receive the highest allocation with P773.6 billion, higher by P21.9 billion or 2.9 percent than its share from the 2021 budget. This is followed by the Department of Public Works and Highways (DPWH) with P686.1 billion, Department of the Interior and Local Government with P250.4 billion, Department of Health and the Philippine Health Insurance Corporation with P242.0 billion, Department of National Defense with P222.0 billion, Department of Social Welfare and Development (DSWD) with P191.4 billion, Department of Transportation (DOTr) with P151.3 billion, Department of Agriculture (DA) and National Irrigation Authority (NIA) with P103.5 billion, The Judiciary with P45.0 billion, and the Department of Labor and Employment (DOLE) with P44.9 billion. The total budget of the top 10 departments amounts to P2.71 trillion and comprises 53.9 percent of the FY 2022 NEP.

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Valenzuela City tops population growth in NCR

HE Philippine Statistics Authority (PSA) has listed Valenzuela as the fastestgrowing city in the National Capital Region (NCR) for the past five years. Based on the NCR’s 2020 Census of Population and Housing (2020 CPH), the population growth of Valenzuela City averaged 3.03 percent between 2015 and 2020. The population of the city reached 714,978 in 2020, represented a 15.24-percent increase from the population count of 620,422 in 2015. PSA data showed this was followed by the City of Mandaluyong with an annual population growth rate (PGR) of 2.07 percent and the City of Taguig at 2.06 percent. Mandaluyong’s population grew to 425,758 in 2020, a 10.22-percent increase from the 386,276 population recorded in 2015. The City of Taguig’s population increased to 886,722 in 2020, a 10.16-percent growth from the 804,915 population counts in 2015. Navotas, meanwhile, posted the lowest PGR with a contraction of 0.16 percent. This is the only highly urbanized city in the region that saw a decline in population. PSA data showed, however, Quezon City remained the most populous city in NCR with 2.96 million residents in 2020. This was an increase of 0.815 percent from the 2.94 million recorded in 2015. Between 2015 and 2020, the average PGR of Quezon City was among the lowest at an increase of only 0.17 percent. The PSA data showed that apart from Quezon City, HUCs in NCR that posted a population of over a million were the Cities of Manila and Caloocan. The City of Manila had a population of 1.85 million in 2020, a 3.72-percent increase from the 1.78 million posted in 2015. The annual PGR of Manila averaged 0.77 percent between 2015 and 2020. For the City of Caloocan, total population reached 1.66 million in 2020, a 4.899-percent increase from the 1.58 million recorded in 2015. The annual PGR of Caloocan averaged 1.01 percent between 2015 and 2020. T he municipa lit y of Pateros, meanwhile, recorded t he l o w e s t p o p u l at io n at 65,227 in 2020, a 2.17- percent growth from the 63,840 population count in 2015. The annual PGR of Pateros averaged 0.45 percent between 2015 and 2020. Meanwhile, PSA said of the 1,710 barangays in the NCR, the largest in terms of population size is Barangay 176 in the City of Caloocan with 261,729 persons. It was followed by Barangay Commonwealth with 213,229 persons and Batasan Hills with 166,572 persons, both in Quezon City. The population of NCR as of May 1, 2020 is 13,484,462 based on the 2020 CPH. This accounts for about 12.37 percent of the Philippine population in 2020. The 2020 population of the region is higher by 607,209 from the population of 12.88 million in 2015, and 1,628,487 more than the population of 11.86 million in 2010. Moreover, it is higher by 3,551,902 compared with the population of 9.93 million in 2000. Cai U. Ordinario

Editor: Vittorio V. Vitug • Tuesday, August 24, 2021 A3

Pandemic stymies RH services, leaves women vulnerable to abuses–UNFPA By Cai U. Ordinario @caiordinario

NITED Nations Population Fund (UNFPA) Philippines expressed concern that the pandemic has made reproductive health (RH) services less accessible, leading to gender-based violence and teen pregnancies. In a news statement, UNFPA said gender-based violence may have increased by 20 percent due to the pandemic, but most of these cases may go unreported. This leaves many women at the mercy of their abusers during the lockdown. “The Covid-19 pandemic contin-

ues to strain the access to life-saving sexual and reproductive health services in the Philippines, leaving women and young people more vulnerable,” Leila Joudane, UNFPA country representative in the Philippines said. The UNFPA called on the national government, and nongovernment partners to reinforce their policies to ensure the availability of maternal health, family planning, including supplies, and GBV protection. It is also important to include response information and services, which adapts to the Covid context, including availability of helplines, clear referral pathways, among others.

UNFPA said such services should also integrate health, psychosocial support, case management, security, and socioeconomic support, especially to victim-survivors of genderbased violence. These life-saving mechanisms should also reach the community level. Given the risks associated with adolescent pregnancies, the UNFPA said health facilities should consider them priority cases and ensure provision of appropriate services without discrimination, especially in areas where adolescents are not allowed to go out under the InterAgency Task Force for the Management of Emerging Infectious Dis-

eases (IATF) guidelines. UNFPA also said the need to ensure minimum number of beds and staffing in OB wards for either Covidpositive or negative pregnant women in facilities with high virus infection cases remain critical and life-saving. Further, since pregnancy increases the risk of severe Covid-19 illness, pregnant women are also recommended to get vaccinated by discussing it with their health-care providers. “Sustained attention and support to women and girls’ sexual and reproductive health choices and rights, and freedom from violence are equally important as we continue to fight against Covid-19,” Joudane added.

UNFPA Philippines said its recent assessment showed the country’s high Covid-19 cases reported are found in major urban areas. These areas are also end-referral facilities providing critical sexual and reproductive health (SRH) services such as Maternal Health Services, Family Planning, and GenderBased Violence (GBV) Protection and Response Services. Data showed 54 provinces and cities are currently in the highest alert level for Covid-19 cases or Alert Level 4, while 28 provinces and cities are in Alert Level 3, and 27 provinces and cities are in Alert Level 2 across the 17 regions in the country.

Go asks PhilHealth to halt suspension of claims; Gordon summons ex-DBM’s Lao to Blue Ribbon By Butch Fernandez @butchfBM

ENATOR S a i red concer n s on potent i a l adverse effects during public health emergency amid a brewing disagreement over payment of PhilHealth reimbursement claims. Sen. Christopher Lawrence “Bong” Go, chairman of the committee on health heading the Senate panel in the joint congressional oversight committee on the National Health Insurance Program, pressed for PhilHealth’s reconsideration of its Circular 20210013 suspending the payment of claims that are subject of inv e s t i g at i o n s p e r t a i n i n g t o “fraudulent, unethical acts, and/or abuse of authority.” “As chairman of the Senate Committee on Health, I am appealing to PhilHealth to defer implementation of said Circular 2021-0013,” Go said over the weekend. “Let us give some slack as we are in a different situation. We are facing a pandemic and we need to help each other to surmount it and protect lives.” This developed as Sen. Richard J. Gordon, chairman of the Blue Ribbon Committee, signed a subpoena ad testificandum approved by Senate President Vicente Sotto III requiring the attendance of former Department of Budget and Management (DBM) Undersecretary Lloyd Christopher Lao to the next hearing of the committee on Wednesday, August 25, into the 2020 Commission on Audit (COA) report on the Department of Health (DOH). Lao, who resigned last June, was head of the Procurement Service of the DBM at the time when bulk purchases of masks and face shields were undertaken by the government due to the Covid-19 pandemic. “He w i l l be asked to e xplain the circumstances of such procurement. It is important that he appears because there are so many questions that need answers, especially, he was previously investigated over procurement of overpriced medical supplies and equipment as Usec. Canda said,” Gordon stated. Inanewsbriefing,Laosaidheiswilling to attend the hearing “to shed light on the matter,” adding that the most appropriate avenue is the Blue Ribbon Committee. “Mr. Lao is still in the Philippines, or at least, has not left the country, as certified by the Bureau of Immigration. This is a good sign that can only mean to indicate that he is not fleeing and can help us in our investigation in bringing light to the seemingly murky processes of government procurement,” Gordon added. T his developed as Go on

Sund ay repor ted he a lready reached out to PhilHealth President Dante Gierran, Executive Secretary Salvador Medialdea and Secretary Carlito Galvez to help resolve these issues and protect the stability of the health system. In appealing for PhilHealth not to suspend payments to hospitals, Go said he prodded the officials concerned “to work together in order for these issues to be resolved.” Affirming support for PhilHealth’s efforts to reform their system and protect public funds from fraudulent claims, he reminded, however, that “it should not compromise the health services for Filipinos.” “Bagama’t sang-ayon ako sa hangarin ng PhilHealth na repormahin ang kanilang sistema para maproteksyunan ang pondo ng bayan laban sa mga namamantala, isaalang-alang rin dapat natin ang mga maaapektuhang ordinaryong mamamayan na walang matatakbuhan at nangangailangan ng tulong, lalo na pagdating sa kalusugan,” Go noted. He pointed out that while the country remains under a public health emergency, concerned government agencies need to “be more flexible so they can prioritize what Filipinos’ need at this time.” At the same time, Go noted that due to the issuance of the circular, the Private Hospitals Association of the Philippines, the Philippine Hospitals Association, and the Philippine Medical Association came out on August 21 with a joint statement announcing that they will “disengage” from the state-run health insurer. The administration lawmaker, in turn, requested the state insurer and concerned hospitals to “work together to speed up the processing of their requirements so that payment may be made as quickly as possible.” He added: “Ang payo ko sa PhilHealth at sa mga ospital na may pending claims, ayusin niyo na agad ang mga dokumento para hindi na matagalan ang pagbayad.” Moreover, Go reminded that those found to have proven fraudulent claims will face charges while those with valid claims will be assisted to continue rendering service to the community. “’Yung mga mapatunayangmay fraudulent claims, iyon ang kasuhan. ’Yung mga maayos naman, tulungan natin silang magampanan ang tungkulin nila sa komunidad lalo na ngayon na napaka-importante ng mga ospital dahil tumataas na naman ang kaso ng mga nagkakasakit,” Go added. At the same time, the senator asked hospitals to “follow proper procedures and be truthful in their claims, particularly in these exceptional circumstances due to the pandemic.”

“Sundin lang po natin ang tamang proseso at huwag na pong patagalin pa. Bilisan na po natin dahil malaking bagay ito upang mas makaresponde tayo sa pangangailangang p angk alu s u gan ng taumbayan,” he sa id, add ing , “Pangalagaan rin natin ang pon-

do ng ba yan at hu wag nat in palampasin ang mga nangsasamantala.” The administration lawmaker likewise called on PhilHealth and hospitals to prioritize the welfare of ordinary Filipinos who need their services now more than ever,

saying, “Huwag nating hayaan na mailagay sa alanganin ang buhay ng mga Pilipino dahil iyon pangunahing konsiderasyon natin palagi. Sa lahat ng aksyon at desisyon ng gobyerno, dapat balanse para hindi makompromiso ang serbisyo na dapat matanggap ng bawat Pilipino.”

A4 Tuesday, August 24, 2021 • Editor: Vittorio V. Vitug

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Let vaccinated people spur PHL economic recovery–Concepcion By Tyrone Jasper C. Piad @TyronePiad

RESIDENTIAL Adviser for Entrepreneurship Jose Ma. Concepcion III is pinning hopes on the fully vaccinated population to boost economic activities amid the protracted lockdowns that have been hurting the business sector. In a virtual event on Monday, Concepcion reiterated his call to expand mobility for the fully vaccinated Filipinos by allowing them to go to commercial establishments, in

addition to their workplaces. The Go Negosyo Founder said that the proposal is “allowing the vaccinated to create that economic activity” in restaurants, spas, salons, malls and other establishments. “Yes, the vaccinated can still be infected even with the best brands of vaccines out there, but clearly, we’ve seen it, all these brands of vaccines that the government and the private sector have purchased, clearly protect the vaccinated from getting severe infection or landing in ICU [intensive care unit] or even dying,” he explained.

Bill exempting from tax medical oxygen, Covid-19 supplies up for House plenary OK By Jovee Marie N. Dela Cruz @joveemarie

HE House Committee on Ways and Means on Monday endorsed for plenary approval a substitute provisions to the bill exempting critical medical supplies, including medical oxygen, from any and all other taxes. To expedite the process and given the urgency of the request of President Duterte, Albay Rep. and House Committee on Ways and Means Chairman Joey Salceda said that the committee worked on the substitute provisions and inserted them in a similar measure already approved by the tax panel earlier. “We introduced the provisions to House Bill 8895 already approved by the committee, and principally authored by Rep. Ruffy Biazon. We inserted the provisions that would have fit the President’s request so that we could expedite the process,” Salceda said. The substitute bill or the proposed Public Health Emergency Tax Exemption Act exempts the manufacture, importation, sale, and donation of critical medical supplies and essential goods during public health emergencies. The bill mandates the Secretaries of Health and Finance to draw up the list of goods subject to exemption. The exemptions will require the declaration of a public health emergency by the President after December 2023,

but will be in effect until then. Critical medical products refer to vaccines and other necessary medicines to contain public health emergencies. Essential goods refer to personal protective equipment (PPE) such as gloves, gowns, masks, goggles, and face shields; surgical equipment and supplies; laboratory equipment and its reagents; medical equipment and devices; support and maintenance for laboratory and medical equipment, surgical equipment and supplies; medical supplies, tools, and consumables such as alcohols, sanitizers, tissue papers, thermometers, hand soaps, detergents, sodium hypochlorite, cleaning materials, povidone iodine; testing kits, and such other supplies or equipment as may be determined by the Department of Health (DOH) and other relevant government agencies. The bill mandates the Secretary of Finance, upon the recommendation of the Secretary of Health and the Secretary of Trade and Industry, may also suspend the threshold on required export sales for availment of privileges under Title XIII of the National Internal Revenue Code of 1997, to allow manufacturers to sell to the domestic market. “I can see this getting to the floor during this session opening. We already emphasized to the Committee on Rules that this is a Presidential request, not to mention an urgent Covid-19 response,” Salceda added.

“This proposal to allow the fully vaccinated to enter different business establishments, I think, is a way forward not only to bring down the level of quarantine that you have today, but hopefully will end all lockdowns in the future,” he added. But for this to work, Concepcion said that establishments should ensure the safety of their premises to boost consumer confidence. “Because if the confidence is not there, the consumers will not enter these establishments,” he said. Concepc ion ea rl ier a rg ued that further mobility is needed,

especially by the fourth quarter, to allow the economy to regain some footing. The last quarter is deemed the most critical as this is the last chance this year for the businesses to recoup their losses accumulated over the last months, he explained. The proposal is line with Concepcion’s call to promote micro-herd immunity, which refers to a close system that achieved 80 percent vaccination rollout already. He stressed the need of continuous vaccination rollout to make the Covid-19 bubble “stronger.”

Recently, Concepcion suggested the deployment of buses for fully vaccinated passengers in Metro Manila to establish a “bubble” for the public transportation system. This is seen to provide safe mobility for the working population amid the pandemic. Metro Manila is under modified enhanced community quarantine until August 31. While essential activities are allowed, the government banned indoor and al fresco dining in restaurants, beauty salons, barbershops, beauty parlors, nail spas and gyms, among others.

Semicon industry urged to enhance supply chain amid global digital shift

high-value market for IoT amid growing demand. Trade Secretary Ramon M. Lopez explained that nearly all devices will be connected to the Internet in the future; and semiconductor chips and electronics hardware will make this happen. He said that IoT will be integrated with other advanced technologies as well, including artificial intelligence, edge computing, virtual reality and augmented reality. The trade chief added that the demand will be supported by industrial and consumer segments, including autonomous and connected vehicles, smart home products, smart health wearables, clean and resilient technology and gaming products, among others. This year, the local semiconductor industry aims to grow by 7 percent despite the shipment delays threatening its supply chain. Tyrone Jasper C. Piad

DAR distributes farm machines, equipment to CamSur farmers By Jonathan L. Mayuga @jonlmayuga

HE Department of Agrarian Reform (DAR) announced on Monday the turnover of P6.3 million worth of farm machines and equipment to 10 farmers’ organizations in Camarines Sur. The distribution of farm machines and equipment to the farmers is expected to improve the quality of crops, prevent postharvest losses and increase the production of rice and vegetables in the province. “We want to uplift their economic lives by increasing their agricultural production and household income. That’s why these farm inputs are being provided to enhance the support systems of our agrarian reform beneficiaries,” DAR Secretary John Castriciones said in a news statement. The cooperatives include the Magsaysay Planters Association, Sta. Cruz Farmers & Farmworkers Association, Balaton Farmers & Fisherfolks Organization, Dominanao Silverio Estate Irrigators Association, Hibago Farmers Irrigators Association, Pagiriba kan mga Paraoma asin Parasira kan Haponan, Bagong Sirang Farmers’ Co-operative, Siembre ARBs Assoc., Vegetable Growers Association of Tigaon, and Pagasa Farmers and Farmworkers Association. These organizations will be operating and maintaining common service facilities, which include five solar-powered irrigation systems, a hauling truck, tractor with rotavator, a hand tractor, a corn sheller, a rice thresher, and two tilling machines. Ruth Bermillo, president of the Pag-asa Farmers and Farmworkers Association thanked the DAR and President Duterte for the support to their organization and other farmers in the area.

N response to growing demand, the semiconductor industry has been urged anew to enhance supply chain and revisit product strategy. T homas Cau lf ield, CEO of US-based semiconductor firm Global Foundries, said in a virtual event on Monday that the accelerated shift to digitalization has fueled the demand for the industry. With this, he encouraged to make adjustments across the sector, including raw materials, equipment and packaging, among others. “From my perspective, it starts with rethinking your supply chain and your product strategy by rebalancing resources, innovation and effort,” Caulfield said. “It requires a bold reconsideration of your product portfolio, with thereby a disruption in your strategy.” He said these initiatives should be coupled with enhancing the research and development as well on the part

of the semiconductor firms. In addition, Caulfield called for a “new economic model” for the industry, which will be based on public-private ties and partnerships with customers, manufacturers and suppliers. “We must collectively partner to meet this accelerated growth,” he said. Among the industry growth drivers cited by Caulfield is fifth generation (5G) technology, which can enable next generation of digital applications. Another is Internet of Things (IoT), which is being used to different sectors, including manufacturing and health care, he said. Caulfield said that there are about 10 billion active devices connected to IoT and it is expected to grow to 25 billion before 2030. Previously, the Department of Trade and Industry (DTI) urged the electronics and semiconductor industry to further explore the

For third straight week, oil firms roll back fuel prices

Companies need to undergo a shift in cyber culture By Henry J. Schumacher

ID you read about the recent large data breach? It happened at T-Mobile in the US. The cell phone carrier said the stolen data included first and last names, birth dates, SSS numbers and driver’s license information from 40 million current and potential customers. By Lenie Lectura

@llectura

IL firms will reduce pump prices this week to reflect movements in the world market. They announced Monday that gasoline prices will go down by P0.80 per liter, diesel by P0.75 per liter and P0.90 per liter for kerosene. Petron, Shell, Total, PTT, Seaoil, Caltex said they will adjust pump prices at 6 a.m. of Tuesday, August 24. Cleanfuel, meanwhile, will implement the price rollback at 8:01 in the morning. Other oil firms have yet to announce their price adjustments. This is the third consecutive week of fuel price rollback. Last week, diesel and kerosene prices went down by P0.30 per liter and P0.40 per liter, respectively. Last August 10, they also reduced gasoline prices by P0.65 per liter, diesel by P0.70 per liter and kerosene by P0.75 per liter.

This is not a single case and data breaches happen more and more by vicious cybercriminals. Companies everywhere will need to undergo a shift in cyber culture, engaging data engineers and network security professionals in the search for vulnerabilities. When companies think about cyber-security training, they often focus on employees outside technology. This makes sense because data breaches often happen at the operational level. This is the reason why we are training people at the operational level so they could understand the responsibility they carry in working with data. They are at the frontline of cyber-security risk without the appropriate training. But we need to train the data engineers and network security professionals also. Who knows about engineering systems? The

engineers. Who has been excluded from the world of cyber security? The engineers. Cyber-security skills are the next natural step for a career in engineering as companies rely on engineers to operate secure systems. Engineers and network security professionals have to look for anomalies in the network or in processes. Issues within processes are often absent from network irregularities. Engineers may be fundamental to a given business, but inclusion in cyber security is part of a greater cultural movement. The penultimate test of a cyber-ready company culture is one where employees think differently—business continuity is not the sole indicator of a secure network. This is where training comes into play. When overhauling a culture of cyber security in an organization— or lack of a culture—we recommend

revisiting the basics. Companies should be able to answer: How effective is our training? Are employees well-versed in security? Do we consider and implement security throughout our design process? Is security a component of maintenance measures? Are vendors asked to add security to their offering? Are our partners best of breed? Security has a role to play when it becomes tempting to connect and monitor everything in an environment. Instead of reacting to monitoring and concluding something is broken, engineers should instinctively ask “have we seen an increase in the data? Is it giving some peaks and some spikes that we haven’t seen before?” Or unusual information consumption. By combining the expertise and observations between engineers, security professionals and people in operations, companies have an entirely new dataset to review for abnormalities or vulnerabilities that threaten the business as a whole. If you don’t have the ability to know whether incidents were cyber related or not, training and everything else is going to be so important. If you need assistance in the shift in cyber culture to avoid data breaches, let me know; we have access to experts; contact me at hjschumacher59@gmail.com

News BusinessMirror

www.businessmirror.com.ph

PHL among the top 10 non-OIC destinations for Muslim travelers By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

HE Philippines rose a notch higher in the list of favored leisure destinations by Muslim tourists, outside of the Organization of Islamic Countries (OIC). In this year’s MasterCard-CrescentRating Global Muslim Travel Index (GMTI), the Philippines is now ranked no. 8 among the top 20 non-OIC leisure destinations, up from no. 9 in 2019. Singapore continues topping the list, since the GMTI was launched in 2015. The Philippines is tied with France, Germany, and the United States. The GMTI in 2021 ranked 140 destinations around the world, accounting for 95 percent of Muslim visitor arrivals. The Philippines remains at no. 36 in terms of global destinations for Muslim travelers, with an average score of 46 across factors like access, communication, environment, and services. Malaysia once more topped the list of Muslim-friendly destinations with a GMTI score of 80. This year’s index gives the largest weight to services (40 percent) including halal food and prayer facilities as well airport and accommodations; and to the environment (30 percent) such as safety, faith restrictions, visitor arrivals, and enabling climate. The visa requirement metric was not included this year. Fazal Bahardeen, founder and CEO of the CrescentRating said in the report’s foreword: “The pandemic has had a colossal impact on the travel sector. Muslim arrivals dropped to 42 million in 2020 from an all-time high of an estimated 160 million in 2019. As we start this recovery journey, we project that the Muslim travel market will return to the 2019 levels by 2023.”

Halal food a must

THE report noted the Philip-

pines as among the countries that have published Muslim Visitor Guides in the last few years, which “not only inspire Muslim travelers for travel beyond the pandemic, but also enable them to search for the relevant services with ease.” But the key in attracting Muslim visitors, the report stressed, was the availability of halal food in a destination. In a market study by Nielsen Research for the Department of Tourism (DOT) in 2015, it found the absence of halal food among the “pain points” of tourists from Indonesia, Malaysia and Saudi Arabia. This drove the DOT in 2016 to launch a halal marketing strategy in a bid to increase arrivals from Islamic countries, which included the certification of halal restaurants. It tied up with CrescentRating, the world’s leading authority on halalfriendly travel, to help rate local halal restaurants. T he DOT has yet to complete its Halal Tourism Roadmap, but this is considered a key prog ram under its refor mu lated National Tourism Development Plan for 2021-2022. In Ju ly, it launched a Ha la l Cu linar y Tou r i s m s e r ie s to showc a s e unique dishes and tasty delicacies in Mindanao, as well as the island ’s grow ing list of ha la lcer tified restaurants. T he v ideo ser ies is available on DOT ’s socia l-media platfor ms. In 2019, prior to the pandemic, tourist arrivals from the Middle East dipped by 10.4 percent to 73,703. This was a slight improvement from the 11.34-percent decline to 82,251 in 2018, ostensibly due to a region-wide si lent recession. Bu l k of the Middle Eastern tourists in 2019 were from Saudi Arabia (43,748) and the United Arab Emirates (10,192), which both recorded declines by 6.85 percent and 33.83 percent, respectively.

182 Pinoys now out of Kabul, 17 more seeking repatriation By Recto L. Mercene @rectomercene

HE Department of Foreign Affairs (DFA), in its August 23 situation bulletin, said a total of 182 overseas Filipino workers have left Afghanistan, while 17 are requesting company or government repatriation. At least 27 Filipinos still remain in the war-ravaged country. The DFA said they are in contact with the 27 Filipinos and of this number 10 signified their intent to remain in Afghanistan, while the remainder have requested to be evacuated. Some who left Afghanistan are not returning to the Philippines for various reasons, DFA Assistant Secretary Eduardo Menez said. He added he believes those who

are not leaving despite the risks have “mostly work-related” reasons. All those workers who managed to exit Afghanistan, despite the chaos at the Hamid Karzai International Airport—where thousands of Afghans and foreigners desperate to flee the Taliban takeover of the country have flocked since Sunday afternoon— were assisted by various Philippine Embassies so that no repatriated worker in transit need not fully quarantine in the transit country, “as they will be undergoing quarantine upon arrival in the country.” Many of the OFWs who exited Afghanistan on military planes of western or Asean countries are still in transit countries like the United Arab Emirates or Qatar, although some have gone on to European destinations.

No early relief seen for veggie price spike

continued from a1

“Some of the vegetables like pechay baguio and Chinese cabbage take about three to four months to produce, so these will hit the market by November and December,” he said. Nonetheless, unlike last year, the transport of vegetable supply from CAR to Metro Manila did not face any problems or challenges despite the imposition of a two-week enhanced community quarantine over the National Capital Region, Odsey said. DA-High Value Crops Program Director U-Nichols A. Manalo said it is still planting season for vegetable production in Regions 2, 3, and 4A, which are some of the

country’s major producers. “These areas were affected by Typhoon Fabian and rains brought by Habagat. The harvest season in these areas is expected to start by the end of August or September,” Manalo told the BusinessMirror. Nonetheless, Manalo assured Filipino consumers that the DA through its regional offices in Luzon continues to mobilize vegetable supply for the National Capital Region. In January, the DA projected that the country may suffer a 79-day shortage of vegetables this year as supply shortfall is estimated at about 434,840 metric tons.

Tuesday, August 24, 2021 A5

Mayor Vico prods experts on report on Pasig road cracks By Claudeth Mocon-Ciriaco @claudethmc3

& Jonathan L. Mayuga @jonlmayuga

ASIG City Mayor Victor Ma. Regis Nubla “Vico” Sotto has ordered the City Engineer’s Office to submit their “full assessment” after cracks appeared on a portion on Topaz Road in Ortigas Business District at the height of severe thunderstorms and heavy rains on Sunday night. Initial interviews with experts, however, ruled out the possibility that the cracks were caused directly by a lightning strike, or by a movement in earthquake faults. The road was ordered closed to motorists as barricades were placed on Topaz Road between the corners of Opal and Garnet Roads. “Our engineers are working with Ortigas Land, Manila Water, Meralco, and the barangay to pinpoint the cause of the damage along Topaz Road,” Sotto said in a tweet on Monday. Sotto added, “They will finish submit their full assessment by today [August 23].” A video went viral earlier showing the long crack, and many netizens wondered aloud if this was caused by the thunderstorm.

Lightning hitting ground? Not likely

A BOLT of catastrophic lightning hitting the ground, enough to cause a crack in a city full of buildings, is not likely, according to Ariel Rojas, weather forecaster at the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (Pagasa). “Definitely it was not caused by lightning. Because in a city, the first thing that will be hit by lighting is the tallest structure in that area, not the ground. So it is impossible,” says Rojas. “There are other explanations for that crack but that was not caused by lightning,” he reiterated. While thunder and lightning depends on the severity of the thunder-

EMPLOYEES of the Pasig City engineer’s office examine the mysterious cracks on Topaz Road in Ortigas area on Monday morning. ROY DOMINGO

storm, he said its impact could not cause a huge crack on the ground. A bolt of lightning can kill a man or an animal as reported in the media in the past, but this is because the person or the animal was standing tall in the plains of a grassy area or rice field, making them the likely target. During the monsoon months, severe thunderstorms are frequent. The ones observed in the areas of Cavite and National Capital Region (NCR), he said, are natural, especially because the Philippines is archipelagic, surrounded by bodies of water, that likely help buildup of weather disturbance, like thunderstorms, tropical storms, or worse, typhoons.

Not a fault–Phivolcs

A FAULT movement was also raised as a possibility, but the Phivolcs ruled this out. Department of Science and Technology (DOST) Undersecretary Renato Solidum said: “First of all, there’s no fault [passing] in that area. And if

there’s a fault, a crack like that could not happen without an earthquake,” Solidum, the concurrent Director of the Philippine Institute of Volcanology and Seismology (Phivolcs) told the BusinessMirror. Meanwhile, a barangay official in the Ortigas area affected by the long road cracks said residents and workers of the four buildings near the cracks will not be evacuated. “There will be no evacuation. So far, there’s no danger,” said Chairman Raymond Lising, of Barangay San Antonio. He said authorities are looking into soil erosion as a possible reason. Lising joined Sotto, city hall officials, personnel of DPWH, Meralco, and Ortigas Land in inspecting the affected area.

Soil erosion

“OUR initial findings showed that soil erosion could have caused the cracks. Yesterday, it was raining very hard here,” Lising told media, adding that thunderstorms brought heavy

rains in Metro Manila on Sunday, leaving some areas flooded. He added that the construction site near the affected area were ordered to temporarily stop their operations. “But they will still help with the investigation on this matter,” he added. The barangay official also appealed to the public not to panic. “We are appealing to everyone not to panic. But we must always remain vigilant and alert at all times,” he said. Solidum said based on the video and photographs he observed, the crack on the pavement on Topaz road could have been caused by soil erosion. It is possible that the problem was caused by a leak in the drainage system. “If you can see, there was a cover in a controlled area [where the crack appeared.] And there’s a strong water pressure so possibly, it was caused by possibly a leak in the drainage system that caused the soil to erode,” he explained.

Manila trails Asean-5 peers in safe cities index, ranks 51st of 60 continued from a1 The city’s performance was below the global average in all indicators. This includes the city’s score in environmental security where the global average score was 68.5 out of 100. “The introduction of the new pillar for environmental security in this year’s index reflects the increased importance of sustainability issues and climate adaptation measures amid the pandemic,” the EIU said in a statement.

This year, Copenhagen topped the SCI, scoring 82.4 points out of 100 while Toronto followed close behind with 82.2. This was a departure from the last three SCI editions where Tokyo, Singapore and Osaka—always in that order—have been the index leaders. EIU said the change reflected a reordering among cities that have always come close to the top. In all four editions of our index, six cities

—Amsterdam, Melbourne, Tokyo, Toronto, Singapore and Sydney— have all figured among the leading the top 10, with only a few points separating them. The performance of some cities were also affected by the introduction of the new pillar on environmental security. Toronto and Copenhagen performed better in this pillar compared to the top 3 cities from earlier years. The EIU also said

Govt ’22 borrowings cut to ₧2.5T from ₧3.1T Of the gross domestic borrowings next year, the bulk of the amount will be borrowed through fixed-rate Treasury Bonds amounting to P1.86 trillion while P52 billion will be raised through auctioning off Treasury Bills. In terms of gross external borrowings, P353.5 billion will come from bonds and other inflows, P126.7 billion through program loans, and P80.37 billion via project loans.

2023 projections

FOR 2023, the government also projects an even smaller borrowing program of P2.31 trillion, down by 6.7 percent from the 2022 borrowing program. It is also expected that the budget deficit for 2023 will be further slashed to P1.43 trillion or 5.9 percent of GDP. Meanwhile, 2022 budget documents also showed the national

government expects outstanding debt by the end of the year to balloon to P11.73 trillion, up by 19.8 percent from P9.795 trillion in 2020. This is also projected to further swell in 2022 to P13.42 trillion, higher by 14.39 percent than the projected level of outstanding debt by the end of 2021. From a record-low debt-to-GDP ratio of 39.6 percent in 2019, the country’s debt as a share of the economy surged to a 14-year-high of 54.6 percent in 2020. Finance Secretary Carlos G. Dominguez III earlier said the debtto-GDP ratio this year is projected to further rise to 59.1 percent and peak next year at 60.8 percent—slightly above the internationally accepted threshold—before gradually tapering off to 60.7 percent and 59.7 percent in 2023 and 2024. The Department of Finance

the index showed that leading middle-income cities did better in this area than in any other categories. In particular, three at this income level finish in the pillar’s top 10: Bogota (4th); Rio de Janeiro (8th); and Kuala Lumpur (10th). The 2021 index ranks 60 cities across 76 indicators. The 2021 framework has been refined to better capture a city’s environmental security.

continued from a1

(DOF) sees the national government returning to its pre-pandemic debt and budget deficit levels as early as 2024 or by 2025 if the recom-

mended fiscal measures are passed early by the next administration and if the economy quickly recovers.

BusinessMirror

A6 Tuesday, August 24, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

24 INCH GAUGE CONSTRUCTION INC. L4 Blk. 4 Near Kay Buboy Bridge San Dionisio Parañaque City 10.

LIU, DEZHONG Marketing Specialist 1.

Brief Job Description: Responsible for coordinating with other marketing and sales professionals to implement innovative campaigns for branding or product launches

Basic Qualification: Ability to work under pressure and motivation to succeed in a competitive environment; Should have a bachelor’s degree in journalism, marketing, communications or a related field; Good communication and interpersonal skills Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ZHANG, YAN Mandarin Site Technical Officer Brief Job Description: Preparing and following general maintenance schedule.

Brief Job Description: Monitor, review and report on all Marketing activity and result

Basic Qualification: Analyze the productivity of the Marketing plans and projects, recommend to Senior Management

CAO, ZEHONG Mandarin Speaking Customer Service Representative 11.

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails

CHEN, HUALIN Mandarin Site Technical Officer 3.

Brief Job Description: Diagnosing equipment malfunctions and performing repairs

DING, LI Mandarin Speaking Customer Service Representative 12.

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

ALLIANTPRIME SERVICES INC. Unit No. Unit 2c Flr. No. 4f One Ecom Center Building, Ocean Drive St., Moa Complex Subd. District 1, Barangay 076 Pasay City Basic Qualification: Proficient in speaking, reading and writing in Mandarin Salary Range: Php 30,000 - Php 59,999

13.

Brief Job Description: Managing incoming calls and customer service inquires

14.

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

XU, XIAOQIANG Mandarin Project Planning And Design Supervisor 5.

Brief Job Description: The Mandarin Project Planning and Design Supervisor will be a strategist ad a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

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

Brief Job Description: Monitor and maintain rigging equipment to ensure safety. Report all safety concerns/issues to management immediately. Set up and breakdown necessary equipment

17.

Brief Job Description: Responsible to ensure that the momentum of business growth through the nationwide wholesale and retail distribution of jaguar land rover in target premium market segments are exceeded year or year.

Basic Qualification: Reputable local and international exposure of over 15 years in Senior Management Capacity to lead premium automotive brands.

18.

LIU, XIAO Mandarin Site Technical Officer Brief Job Description: Preparing and following general maintenance schedule.

SU, MINGCHAO Mandarin Site Technical Officer Brief Job Description: Preparing and following general maintenance schedule.

Brief Job Description: Interpret written or spoken marketing material into one or more other languages-Mandarin; Ensures meaning and context are maintained, creates glossaries or term dictionaries, possesses knowledge of multiple languages, works with an individual client and corporations; Communicate in dual languageEnglish and Mandarin Chinese (spoken and written) with clients.

CHEN, ZHIYUE Marketing And Sales Agent 19.

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

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas

GAO, HUIJIE Marketing And Sales Agent 20.

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

KUAI, LIUHUI Marketing And Sales Agent 21.

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas

QUALIFICATION AND SALARY RANGE Basic Qualification: Can contributes information, ideas, and research to help develop marketing strategies; can help to detail, design, and implement marketing plans for each product or service being offered. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999

LIU, JIE Marketing And Sales Agent 22.

Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas

Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers

LU, XIAOMEI Marketing And Sales Agent 23.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas

EVERLOUNGE INC. 27th/f Robinsons Summit Center 6783 Ayala Ave. Bel-air Makati City

KAENDAM, WACHIRAPORN Business Analyst 24.

Brief Job Description: Conduct research and analysis, introduce systems to businesses and clients

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers

HWANG, DONGHO Business Development Associate 25.

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

Brief Job Description: Conduct market research, develop business strategies, build client relationships

LE VAN VIET Business Development Associate 26. Basic Qualification: Can speak, write, type in Mandarin language. Technical skills in software as stated above.

Brief Job Description: Conduct market research, develop business strategies, build client relationships

LEE, SEUNGJUN Business Development Associate

Salary Range: Php 30,000 - Php 59,999 27.

Basic Qualification: Can speak, write, type in Mandarin language. Technical skills in software as stated above.

Brief Job Description: Conduct market research, develop business strategies, build client relationships

TASHIRO, HIROAKI Business Development Associate 28.

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

Brief Job Description: Conduct market research, develop business strategies, build client relationships

TRINH HUNG MINH Business Development Associate

Basic Qualification: Can contributes information, ideas, and research to help develop marketing strategies; can help to detail, design, and implement marketing plans for each product or service being offered.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers

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

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

29.

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

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

No.

EASTERN GOLD CORPORATION 503 Nueva St Binondo Manila

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

CURRENTCORE SERVICES INC. Unit 2c, Flr. No. 4f One Ecom Center Bldg. Ocean Drive St. Moa Complex Subd. Barangay 076 Pasay City

Brief Job Description: Interpret written or spoken marketing material into one or more other languages-Mandarin; Ensures meaning and context are maintained, creates glossaries or term dictionaries, possesses knowledge of multiple languages, works with individual clients and corporation. Communicating in dual language English and Mandarin-Chinese (spoken and written) with clients.

YU, RONGXIANG Mandarin Marketing Specialist

COVENTRY MOTORS CORPORATION Block 8 Lot 2 5th Avenue 24th St., Bonifacio Global City Fort Bonifacio Taguig City

WARD, CHRISTOPHER IAN President And General Manager

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails

CUI, LICHUN Mandarin Marketing Specialist

Basic Qualification: With good oral and communication skills, specifically in English and Mandarin language. Familiarity in field and construction works. Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE

DING LI BUSINESS CONSULTANCY INC. Unit 25d 2/f Zeta Ii Bldg. Salcedo St. San Lorenzo Makati City

CHN-PHL HUAIYUAN INTERNATIONAL CONSTRUCTION CORPORATION Unit A&b 20/f Rufino Pacific Tower 6784 Ayala Avenue San Lorenzo Makati City

TAN, QIAN Mandarin Safety Officer

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails

YANG, GUORONG Mandarin Speaking Customer Service Representative 16.

Basic Qualification: The Mandarin Project Planning and Design Supervisor will be a strategist ad a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails

LIU, KE Mandarin Speaking Customer Service Representative

Basic Qualification: Able to speak, read, and write chinese language

CHINA WUYI CO., LTD. 4/f Commodore Bldg. 422 Arquiza St. 072 Bgy. 667 Ermita Manila

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails

LI, MENGSHUO Mandarin Speaking Customer Service Representative

15.

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails

LAN, CHENBIN Mandarin Speaking Customer Service Representative

ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D. Macapagal Blvd. Cor. Aseana Street Tambo Parañaque City

WU, DEHUI Chinese Customer Specialist

ESTABLISHMENT / ADDRESS

DAXIFA CORPORATION Mpire Center 93 West Avenue Project 7 Bungad 1 Quezon City

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

YU, XINGSHOU Marketing Staff Mandarin Speaking

www.businessmirror.com.ph

Brief Job Description: Conduct market research, develop business strategies, build client relationships

TRINH VINH PHUOC Business Development Associate 30.

Brief Job Description: Conduct market research, develop business strategies, build client relationships

AMANO, MASAKI Digital Marketing Specialist 31.

Brief Job Description: Developing, managing, and designing layouts of communications

Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

VO LE NHU QUYNH Marketing Associate 32.

Brief Job Description: Conduct market research, gather, and analyse behaviour data

CHAE, YOUHWA Marketing Executive 33.

Brief Job Description: Advertising, direct marketing and campaigns, supporting Marketing Manager

LAOJANATAMKUL, RANTIYAKORN Marketing Executive 34.

Brief Job Description: Advertising, direct marketing and campaigns, supporting Marketing Manager

TRAC MY TRAN Marketing Manager 35.

Brief Job Description: Work with top management, supervise and coordinate business activities

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field

No.

44.

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

Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field

PARK, HEESUNG Korean Customer Service Representative 45.

36.

Brief Job Description: Develop, implement, and improve company quality standards

JAN, MICKAEL, GEORGES, HENRI Senior Director For Ecommerce 37.

Brief Job Description: Collaborates cross functional partners, business planning and content strategy

YAP KIAN CHEONG Senior Fund Management Specialist 38.

Brief Job Description: Providing technical advice for FM work, support the preparation and supervision of high visibility

WANG, JIANGTAO Service And Parts Director 46.

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

40.

Brief Job Description: Customer Service

SEIN WIN Customer Service Representative Brief Job Description: Customer Service

ZHANG, WEILIANG Service And Parts Director 48.

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

Brief Job Description: A customer service representative supports customers by providing helpful information, answering questions, and responding to complaints. They’re the front line of support for clients and customers and they help ensure that customers are satisfied with products, services, and features.

50.

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

42.

KANG, YOUNG BUM Sales Manager Brief Job Description: Manage key personnel, client and service provider

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

INVECH TREASURE PROCESSING CORPORATION Ground, 2nd, 3rd And 4th Floor Eight West Campus Mckinley West Fort Bonifacio Taguig City

FAN, GAOYAN Mandarin Customer Support Representative 43.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

52.

Basic Qualification: Able to speak and write in MANDARIN/FUKIEN and at least college level with related BPO experience.

53.

54.

Brief Job Description: Overall responsible for effective and efficient operational crew management of Maersk vessels in compliance with relevant legislation

Basic Qualification: Head of Rating and Documentation is responsible for the rating management of Maersk owned container vessels. Salary Range: Php 60,000 - Php 89,999

CONG, SHUANG Chinese Speaking Customer Service Staff Brief Job Description: Provide outstanding and exceptional customer service

LIANG, XIUFENG Chinese Speaking Customer Service Staff Brief Job Description: Provide outstanding and exceptional customer service

PHAM THU UYEN Chinese Speaking Customer Service Staff Brief Job Description: Provide outstanding and exceptional customer service

Basic Qualification: Can speak Chinese/ Mandarin Fluently

63.

TANG, ZIMO Chinese Speaking Customer Service Staff Brief Job Description: Provide outstanding and exceptional customer service

64.

ZHOU, MAN Chinese Speaking Customer Service Staff Brief Job Description: Provide outstanding and exceptional customer service

RAYNER, PETER ALAN Marine Superintendent

65.

55.

Brief Job Description: Responsible for the efficient and effective coordination of field operations

Salary Range: Php 500,000 and above

OU, XIAOHU Mandarin Speaking Customer Relations Service Provider Brief Job Description: Responsible for handling service support calls

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

Brief Job Description: Responsible for handling service support calls

WU, HU Mandarin Speaking Relations Service Provider Brief Job Description: Responsible for handling service support calls

Brief Job Description: Conducting research and marketing strategies to develop areas of business

Brief Job Description: Committed to improving customer experience and operational efficiency

Brief Job Description: Work closely with 6 colleagues in organization in planning & reporting process, it strategy and it operations; act as finance business partner to Philippine VP and management team; undertake financial performance of the company

POLSONG, SUWANNEE Order Management Team Member - Thai Speaker 66.

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

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

Basic Qualification: Graduate degree in business admin, finance, accounting; 8-10 years of experience in finance; 5 years’ experience in financial managerial position Salary Range: Php 150,000 - Php 499,999

Brief Job Description: The Order Management Team Member supports our customers in Thailand, he/she ensures timely and accurate capture of orders, and also timely completion of order delivery according to customer requirements while adhering to agreed Service Level Agreements.

Basic Qualification: Must be fluent (written and verbal) in Thai Language. Experience in Supply Chain and Order Management, Customer Service and SAP Salary Range: Php 30,000 - Php 59,999

PLAY TO THE MAX INC. U-2c 4f One E-com Bldg. Moa Complex Bldg., Ocean Drive St. Brgy. 076 Pasay City

PARK, HEESUN Technical Manager For Korean Machines Brief Job Description: Specifically handle and maintain Korean machines used by the company

Basic Qualification: Must be familiar with Korean machines, 5 years of experience and an Engineering graduate Salary Range: Php 30,000 - Php 59,999

PRANCING DESEN TECHNOLOGY SERVICES INC. Unit 1620 Burgundy Transpacific Place Taft Ave. 079, Bgy. 727 Malate Manila WU, JIAWEN Mandarin Product Developer 68.

69.

Brief Job Description: Enhance existing products in order to meet customer expectations

CHENG, ZHOUYU Mandarin Technical Support Specialist Brief Job Description: Technical support service

Basic Qualification: Proven working experience in related field Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Skills in computer networking and hardware Salary Range: Php 30,000 - Php 59,999

TANZILA TRADING INC. U-29 3/f Bac. Bagong Milenyo F.b. Harrison St. Brgy. 076 Pasay City

BANG, JONGMOON Business Development Analyst

MEGA-WEB TECHNOLOGIES INC. 6,7,8,9,10,11/f Met Live Bldg. Edsa Cor. Macapagal Blvd. Brgy. 076 Pasay City

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

LI, KEHAO Mandarin Speaking Relations Service Provider

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

PHILIPS DOMESTIC APPLIANCES SUPPORT PHILIPPINES, INC. 10/f Sunlife Center 5th Ave. Cor. Rizal Drive Fort Bonifacio Taguig City

Basic Qualification: Can speak chinese/ Mandarin Fluently

Basic Qualification: min. 5 yrs’ experience relevant to the designated project & had held a position of supervisor

Brief Job Description: Responsible for handling service support calls

FRANDSEN, JAKOB GØTTRUP Finance & Operations Director

Basic Qualification: Can speak chinese/ Mandarin Fluently

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

HU, ZHUBING Mandarin Speaking Relations Service Provider

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

NOVO NORDISK PHARMACEUTICALS (PHILIPPINES), INC. Unit 2101 21/f Twenty Four Seven Mckniley Bldg. 24th St., Cor. 7th Ave. Bonifacio Global City Fort Bonifacio Taguig City

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

Brief Job Description: Responsible for handling service support calls

HAN, FURONG Mandarin Operation Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak chinese/ Mandarin Fluently

CHEN, XIAOPING Mandarin Speaking Relations Service Provider

WANG, JIAN Mandarin Marketing Specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can Speak Chinese/ Mandarin Fluently

ZHANG, TAIFU Mandarin Speaking Customer Relations Service Provider

QUALIFICATION AND SALARY RANGE

MINDSCAPE CREATIVES INC. Unit 19-o, Burgundy Corporate Tower 252 Sen. Gil Puyat Ave. Pio Del Pilar Makati City

MC CONNELL DOWELL PHILS., INC. Level 4 Nol Tower Commerce Ave. Mbp Muntinlupa City

56. J-NA ALLOUT TECHNOLOGY SOLUTIONS CORP. 3/f Lipams Bldg. #48 President Avenue Bf Homes Parañaque City

Basic Qualification: Bachelor’s degree in business or related field of study. Excellent communication skills. Ability to meet company’s production and quality standards. Ability to read and comprehend instructions and information.

62.

67.

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

Basic Qualification: Can speak Korean/English language.

60.

MARKETROLE ASIA PACIFIC SERVICES, INC. 26/f, 27/f, 28/f The Enterprise Center Tower 1 6766 Ayala Ave. Cor. Paseo De Roxas San Lorenzo Makati City

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

HYUNDAI MERCHANT MARINE (PHILIPPINES) CO., INC. Unit No., U-2 Bldg. No. 13 Fly Ace Corporate Center Bldg. Coral Way St. Barangay 076 Pasay City

Brief Job Description: Provide cost estimates for body damage and internal repairs. Create and maintain a process to effectively manage warranty, customers paid, and internal repair orders.

MOLDRUP, NIELS MARTIN SLOTH Head Of Rating And Documentation

GATEWAYSOLUTIONS CORP. Unit 2306 Antel Global Corporate Center Julia Vargas Ave. Ortigas Center, San Antonio Pasig City

41.

WANG, XIANHAI Mandarin Speaking Customer Relations Service Provider

Brief Job Description: Responsible for handling service support calls

MAERSK CREW MANAGEMENT SERVICES PHILIPPINES INC. (MAERSK CREW MANAGEMENT) One E-com Ctr. Moa Complex, Harbor Drive Brgy. 076 Pasay City

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

Basic Qualification: Must be a College graduate; Can Prepare product or service reports by collecting and analyzing customer information; Can contribute to team effort by accomplishing related results as needed; Can Manage large amounts of incoming calls

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

51.

ZHU, LIN Customer Service Representative

Brief Job Description: Provide cost estimates for body damage and internal repairs. Create and maintain a process to effectively manage warranty, customers paid, and internal repair orders.

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

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

58.

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

49.

39.

Brief Job Description: Provide cost estimates for body damage and internal repairs. Create and maintain a process to effectively manage warranty, customers paid, and internal repair orders.

YU, XINJIE Service And Parts Director

Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field

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

Basic Qualification: College Graduate , Speaks and Write fluently (Korean and English)

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Responsible for handling service support calls

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

61.

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

Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field

57.

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

Basic Qualification: College graduate, fluent in English, preferably 6 months to 1 year experience to the same field

Basic Qualification: College graduate speaks and write fluently (Korean English)

No.

59.

FLYING DRAGON NETWORK PHILIPPINES INC. 4th-11th Floor Aseana 3 Building Aseana Avenue Corner Diosdado Macapagal Tambo Parañaque City

CHU THI KIM CHI Customer Service Representative

Brief Job Description: Managing incoming calls and Korean customer service inquires

QUALIFICATION AND SALARY RANGE

LTE CONCRETE SOLUTIONS INC. Unit 304 & 305 Elements Bldg. #560 Quezon Ave. Tatalon 4 Quezon City

47. VU MANH TUAN Quality Assurance

Brief Job Description: Managing incoming calls and customer service inquires

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

HWANG, RAN Korean Customer Service Representative

Tuesday, August 24, 2021

70.

Brief Job Description: Develop, implement and communicate metrics reporting processes and documentation across plants and companies in collaboration with operations, marketing and sales functions, fluency in English and Korean language is a must . leading and executing various special projects with senior leadership primarily related to the evaluation of possible growth strategies or driving operational improvement

Basic Qualification: must be flexible analytical and good communication in the next few sectors we look at the academic requirements professional certifications and soft skill requirements for BA roles , Fluency in English and Korean language is a must Salary Range: Php 30,000 - Php 59,999

BusinessMirror

A8 Tuesday, August 24, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGO GIA LAC Business Development Analyst

71.

Brief Job Description: Develop, implement and communicate metrics reporting processes and documentation across plants and companies in collaboration with operations, marketing and sales functions, and fluency in English and Korean language is a must. leading and executing various special projects with senior leadership primarily related to the evaluation of possible growth strategies or driving operational improvement

PAN, KUAN-LING a.k.a. CROWN-RING PAN Financial Services Consultant 72.

Brief Job Description: A commendable sales performance specializing in financial services and in corporate banking or wealth management/ financial planning services to high net worth clients fluency in English and Mandarin Language is a must.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: must be flexible analytical and good communication in the next few sectors we look at the academic requirements professional certifications and soft skill requirements for BA roles , Fluency in English and Korean language is a must

No.

SRAN, VARINDER Financial Services Consultant 73.

JOHNSON, MATTHEW DAVID Vice President Of Global Operations

82.

74.

Brief Job Description: Creating and implementation of trade marketing strategy managing brand awareness across various categories and products develop implement and communicate metrics reporting processes and documentations and companies in collaboration with operations marketing and sales functions , Fluency in English and Mandarin language

Basic Qualification: Strong Knowledge of consumer industry Ability to think and creativity, Fluency in English and Mandarin Language is a must

Brief Job Description: Responsible for the overall direction and performance of the teams· Ability to set the vision, direction, and culture of the team by managing individual and team performance expectations and goals, monitoring real time service levels and schedule adherence, and holding the team accountable for meeting and exceeding performance targets

GE, YULING Bilingual Finance Support Specialist 83.

Brief Job Description: Process and prepare financial business forms for the purpose of checking

ZHONG, WENPING Bilingual Technical Support Specialist 84.

Brief Job Description: Evaluates expansions or enhancement by studying work load capacity

NGUYEN MINH PHUNG Vietnam-speaking Customer Service Officer 85.

Brief Job Description: Recommends potential products or services to management by collecting customer information and analyzing customer needs.

75.

76.

JIANG, ZHEN Mandarin Operations Specialist Brief Job Description: Optimizing operational processes & procedures

WANG, XUAN Mandarin Operations Specialist Brief Job Description: Optimizing operational processes & procedures

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

Basic Qualification: Project management experience Salary Range: Php 30,000 - Php 59,999

ZHANG, PENG Project Manager

94.

77.

Brief Job Description: Maintain and drive program knowledge for the team

Basic Qualification: Knowledge of performance metrics Salary Range: Php 30,000 - Php 59,999

86.

Brief Job Description: Managing Operations, Scheduling/staffing KPIS Focus on Maximizing customer experience while optimizing costs Create appropriate servicing and retention strategies for customers

QIAO, YI Mandarin Field Service Supervisor 95.

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

78.

Brief Job Description: Troubleshoot hardware/software issues

Basic Qualification: Skills in computer networking and hardware

JIN, CHUNCHUN Mandarin Technical Supervisor 96.

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

Basic Qualification: Bachelors Degree in the related field with 5 to 7 of experience in services industry, preferably with collections background, relevant experience in BPO industry

ZOU, JINLAI Mandarin Speaking-business Development Manager 87.

Brief Job Description: Builds market position by locating, developing, defining and closing business relationship especially Mandarin speaking clients.

HU, ZHIMING Mandarin Customer Support Representative 79.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

HUANG, XIANGSONG Mandarin Customer Support Representative 80.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

LAN, PINGPING Mandarin Customer Support Representative 81.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

88.

LI, BEIQIAN Marketing Manager 89.

Basic Qualification: Able to speak and write in MANDARIN/FUKIEN and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak and write in MANDARIN/FUKIEN and at least college level with related BPO experience.

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

Brief Job Description: The Marketing Manager will be a strategist ad a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

WAN, BEN Marketing Manager 90.

Brief Job Description: The Marketing Manager will be a strategies and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

ZHANG, ZHENGYONG Marketing Manager 91.

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

Basic Qualification: Able to speak and write in MANDARIN/FUKIEN and at least college level with related BPO experience.

ZHOU, PENG Marketing Manager 92.

Basic Qualification: Proven experience as Technical Manager, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proven Experience as Mandarin Field Service Supervisor Familiarity, knowledge and awareness on Machinery and Heavy Equipment use by company, Demonstrable experience in developing strategic business plan.

Brief Job Description: The Mandarin Technical Supervisor will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

Basic Qualification: Proven Experience as Mandarin Technical Supervisor Familiarity, knowledge and awareness on Machinery and Heavy Equipment use by company, Demonstrable experience in developing strategic business plan.

YOUXUE EDUCATION CONSULTING INC. Level 10-1 One Global Place 5th Avenue & 25th Street, Bgc Fort Bonifacio Taguig City

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

CUI, JIXING Mandarin Speaking - Business Development Brief Job Description: Identifying business development opportunities within Mandarin speaking business communities

Basic Qualification: Speaks and writes fluent in English and Mandarin language, excellent oral and written communication in Mandarin, has a notable network of potential clients locally and internationally, notable business development and marketing skills. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Speaks and writes English and Mandarin Language; Excellent oral and written communications in Mandarin; Has a notable network of potential clients, locally and internationally; Notable business development and marketing skills.

WUHAN FIBERHOME INTERNATIONAL TECHNOLOGIES PHILS., INC. U-19d 19/f Rufino Pacific Tower 6784 Ayala Ave. Cor. V.a. Rufino St. San Lorenzo Makati City

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

WJCQ INTERNATIONAL CONSULTING SERVICE INC. Unit 602 6f Cityland Condo 10 Tower 1 156 H.v. Dela Costa St., Bel-air Makati City

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

TRIVES TECHNOLOGY CORPORATION Tower 4 Bayport West Naia Garden Residence, Naia Road Tambo Parañaque City

Brief Job Description: The Mandarin Field Service Supervisor will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

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

Basic Qualification: Foreign language speaking

Basic Qualification: Proven Experience as Project Manager Familiarity, knowledge and awareness on Machinery and Heavy Equipment use by company, Demonstrable experience in developing strategic business plan.

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

97.

CHEN, XUEWEI Marketing Manager YI, JING Mandarin Technical Support

Brief Job Description: The Technical Manager will be a strategies and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

QUALIFICATION AND SALARY RANGE

XINCHUAN INTERNATIONAL ECONOMIC AND TECHNOLOGICAL PHILIPPINE PROJECT LTD CORP. 16/f Tower 6789 6789 Ayala Ave. Bel-air Makati City

Salary Range: Php 60,000 - Php 89,999 LIM KIM YOKE Mandarin Team Leader

Brief Job Description: The Project Manager will be a strategist ad a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

DAI, BO Technical Manager

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

WIPRO PHILIPPINES, INC. 7th Floor Eton Centris Building Edsa Corner Quezon Avenue Quezon City

PANDEY, ANKIT ABHAYKUMAR Sr. Group Leader

Basic Qualification: Project management experience

Basic Qualification: The ideal candidate should be a Graduate / PG having 15 - 20 years of work experience and should be currently working in an MNC BPO as a VP / GM Operations handling a span of 600 - 1000 team in an international process (Candidates currently working in MNC Captive BPOs only are suitable).

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

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

TELOQUET OUTSOURCING SERVICES INC. Upper 2/f Unit B 2444-a Burgundy Transpacific Place Taft Ave. 079, Bgy 727 Malate Manila

No.

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

Salary Range: Php 30,000 - Php 59,999 CHEN, LIYAN Trade Marketing Specialist

QUALIFICATION AND SALARY RANGE

93.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent communication , interpersonal and listening skills, the capability to explain complex information simply and clearly the ability to network and establish relationship with clients negotiation and influencing skills as wee as determination and tenacity in English and mandarin language is a must

ESTABLISHMENT / ADDRESS

VALOR GLOBAL, INC. 18th Floor Panorama Bldg. 34th St. Cor. Lane A Bonifacio Global City Fort Bonifacio Taguig City

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

LI, YONGNENG Mandarin Speaking - Business Development 98.

Brief Job Description: Identifying business development opportunities within Mandarin speaking business communities

Basic Qualification: Proven experience as Manager, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven Experience as Marketing Manager Familiarity, knowledge and awareness on Machinery and Heavy Equipment use by company, Demonstrable experience in developing strategic business plan.

ZHENG, WEIWEI Mandarin Speaking - General Manager 99.

Brief Job Description: Overseeing the daily operations of the business segment, department or be in-charge of the entire operations.

Basic Qualification: Bachelor’s degree in business administration or related fields, good knowledge of different functions and strong leadership and interpersonal skills. Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as Manager, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as Manager, excellent communication, interpersonal and presentation skills.

*Date Generated: Aug 23, 2021

In the ad material of Notice of Filing of Application for Alien Employment Permits published on August 11, 2021, the position of MOTA MONTILLA, LEONARDO JESUS under SHELL SHARED SERVICES (ASIA) B.V., should have been read as CUSTOMER OPERATIONS SPECIALIST - ORDER TO CASH and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on August 20, 2021, the name of JENNYFER TSIA POH HUA under MARKETROLE ASIA PACIFIC SERVICES, INC., should have been read as JENNYFFER TSIA POH HUA and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE-NCR Regional Office located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE-NCR if you have any information on criminal offense committed by the foreign nationals.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven Experience as Marketing Manager Familiarity, knowledge and awareness on Machinery and Heavy Equipment use by company, Demonstrable experience in developing strategic business plan. Salary Range: Php 30,000 - Php 59,999

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

News BusinessMirror

Editor: Vittorio V. Vitug

DOH notes ‘clustering’ of virus infections in NCR, Region 4A; 466 Delta cases logged By Claudeth Mocon-Ciriaco

hile an official of the Department of Health (DOH) on Monday said that a possible community transmission of Covid-19 Delta variant has been observed in the National Capital Region (NCR) and Region 4A, an additional 466 of the more transmissible virus mutation were detected in the country based on the latest batch of whole genome sequencing conducted by the University of the Philippines-Philippine Genome Center (UP-PGC). Of the total 746 samples submitted by 62 collecting institutions and different Centers for Health Development (CHD) sequenced, there were also 90 Alpha (B.1.1.7) variant cases, 105 Beta (B.1.351) variant cases, and 41 P.3 variant cases that were detected. Health Undersecretary Maria Rosario Vergeire said that currently the DOH is seeing and has noted the “clustering” of cases in NCR and Region 4A. However, Vergeire stressed, they still “need evidence” to officially confirm community transmission. “We have seen and observed in NCR and [Region] 4A na talagang

parang community transmission na ito [that this may be a community transmission already],” Vergeire said in an online media forum. “We can observe that [community transmission] already but we need further evidence,” the DOH official added. Community transmission, she earlier explained, is when the infection spreads in such a way that the source is not known. The DOH also clarified that the government needs “further evidence” to support the announcement of the whole country to have community transmission of the Delta variant. However, the DOH explained that community transmission was identified in Region 4A and in NCR based on the following observations: 1. Large numbers of Delta cases and; 2. Case investigations and phylogenetic analysis showed that these cases can not be epidemiologically linked to each other nor source/s of infection determined. “Analysis of the latest sequencing results for the determination of community transmission is ongoing among other regions. The DOH, the national government, and the local government units, however, have

since responded as if there is already community transmission,” DOH said.

Delta variant

Of the additional 466 Delta variant cases, 442 are local cases, 14 are returning overseas Filipinos (ROF), and 10 cases are currently being verified if these are local or ROF cases. Of the 442 local cases, 201 cases have indicated addresses in the NCR, while 69 cases have indicated addresses in Central Luzon, seven in Cagayan Valley, 49 cases in Calabarzon or Region 4A, 14 cases in Mimaropa or Region 4B, four cases in Bicol Region, 52 cases in Western Visayas, 19 cases in Central Visayas, six cases in Northern Mindanao, 11 cases in Davao Region, seven cases in Soccsksargen, and three cases in the Ilocos Region. Based on the case line list, one is still active, eight cases have died, while 457 cases have been tagged as recovered. All other details are being validated by the regional and local health offices. The total Delta variant cases now stand at 1,273.

Alpha variant

Of the additional 90 Alpha variant

cases detected, 89 were local cases and one case is currently being verified if this is a local or ROF case. Based on the case line list, one case is still active, one case has died, and 88 cases have been tagged as recovered. The total Alpha variant cases are now 2,322.

Beta variant

Of the additional 105 Beta variant cases, 101 were local cases and 4 cases were ROFs. Based on the case line list, four cases have died, 99 cases have been tagged as recovered, and two cases with outcomes that are being verified. The total Beta variant cases are now 2,588.

P.3 variant

The 41 additional P.3 variant cases were all local cases. Based on the case list, 40 cases have been tagged as recovered while one case has an outcome that is being verified. The DOH further reiterated that active case finding, aggressive contact tracing and testing, lowering the interval between detection and isolation/quarantine, strengthened Prevent-Detect-IsolateTreat-Reintegrate strategies, vaccination, and the strict adherence to the minimum public health standards are the interventions in preventing the transmission of the Covid-19 and its variants.

FDA okays EUA for Russian single-dose vax Sputnik Light By Samuel P. Medenilla @sam_medenilla

he local use of the new single-dose vaccine of Russian pharmaceutical firm Gamaleya Research Institute of Epidemiology and Microbiology could boost the country’s chances of achieving population protection before the end of the year, according to vaccine czar Carlito Galvez Jr. In an online news briefing on Monday, Galvez announced the Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for Gamaleya’s Sputnik Light vaccine, which would allow the jab to be locally used. Sputnik Light immediately provides protection its its recipients against Covid-19 with a single dose, compared to Gamaleya’s other vaccine product, Sputnik V, which requires two doses to

achieve a similar effect. Aside from Sputnik Light, FDA had already issued an EUA to another single-shot Covid-19 vaccine from Johnson & Johnson. Galvez said they would follow their order for the delivery of 10 million doses of Sputnik Light. “This means 10 million [people] will get full protection [against Covid-19] since Sputnik Light is one dose,” Galvez explained. He said this would be more convenient compared to most of the two-shot Covid-19 vaccines brands, which the government is administering.

Vaccine procurement

As of Monday, Galvez said the country already secured the commitment from vaccine manufacturers for over 170 million doses of Covid-19 vaccines. Of which, around 100 mil-

lion doses were procured by the national government, while 44 million doses were donated by the Vaccines Global Access (Covax) facility. Another 24 million doses were purchased by private sector and local government units, while 4 million were donated by three countries. Galvez reported over 42.4 million doses already arrived in the said commitments in the country as of Aug. 15, 2021. Last Monday, 30.3 million of the said doses were already administered. The government is aiming to achieve “population protection” before the end of the year by vaccinating 50 million to 70 million of the country’s adult population. Under population protection, people who are most vulnerable to Covid-19, which include health-

SC upholds SBMA’s power to collect CUSA fee from freeport locators By Joel R. San Juan

@jrsanjuan1573

HE Supreme Court has affirmed the constitutionality of the imposition of Common Use Service Area (CUSA) fee by the Subic Bay Metropolitan Authority (SBMA) on all its tenants to recover its expenditures in maintaining the Subic Bay Freeport Zone (SBFZ). In a 19-page resolution, the Court’s First Division denied the petition filed by Philip Morris Philippines Manufacturing Inc. seeking the reversal of the decision issued by the Court of Appeals, which affirmed the December 2, 2015 ruling of the Regional Trial Court (RTC) of Olongapo City, Branch 75, dismissing its plea to stop the imposition of CUSA. Philip Morris questioned the validity of the imposition of CUSA Fee, arguing that it is, in reality, a property tax. The tobacco company insisted that Republic Act 7227 (Bases Conversion and Development Act of 1992) and its Implementing Rules and Regulations (IRR) did not grant SBMA with the power to tax but only to collect reasonable fees for the implementation of a sanitation system, collection and disposal of garbage, and/or installation and maintenance of a sewage system. Furthermore, it noted that under Section 12(c) of RA 7227, the SBMA is barred from imposing national and local taxes within the Subic export processing zones, other than the 5-percent gross receipts tax (GRT) imposed on all locators. In its decision dated December 15, 2016, the CA affirmed the RTC decision, declaring that while SBMA

has no power to tax, it is empowered by law to regulate the operation and maintenance of utilities as well as other services, and to fix just and reasonable rates and charges for such. The petitioner elevated the issue before the SC, saying that the CA committed serious and reversible error in holding that SBMA is authorized under RA 7227 and its IRR to impose CUSA fee on its tenants as it had earlier imposed garbage fee and road user’s fee which validity were not questioned. It also argued that the CUSA fee is unconstitutional for being violative of the non-impairment and equal protection clauses of the 1987 Constitution. It said the imposition of the CUSA fee makes doing business in the SBFZ costlier and more difficult. In upholding the CA ruling, the SC held that RA 7227 and its IRR grant the SBMA with authority to fix reasonable service and utility fees necessary for the establishment, operation and maintenance of utilities, other services, and infrastructure of the SBFZ. “Necessarily, these fees would include the charges collected by SBMA from its tenants to cover expenses for security services or law enforcement, fire protection and prevention, street cleaning, and street lighting, which comprise the CUSA Fee,” the SC stressed. Furthermore, the Court noted that under Administrative Order 31 dated October 1, 2012, GOCCs, such as SBMA, have been directed, not only to rationalize existing fees but also to impose additional charges “to enable the government to effectively provide services without straining the national government’s

sources.” “The SBMA not previously collecting charges or fees for the subject services from business establishments or locators in the SBFZ is not a bar to the subsequent implementation of the CUSA Fee. The law clearly granted it authority to impose reasonable fees and charges for the provision of the municipal services covered by the CUSA Fee,” the SC explained. The Court said it found no merit in Philip Morris’ assertion that the CUSA fee is in reality a tax. “Hence, We reject the position made by Philip Morris that the CUSA Fee is a tax measure since the revenue generated therefrom did not exceed the cost of the regulation,” it noted. The SBMA implemented on October 1, 2012 the policy on CUSA Fee to recover the expenses for the following municipal services for tenants at the SBFZ: 1) Security Services or Law Enforcement; 2) Fire Protection and Prevention; 3) Street Cleaning; and 4) Street Lighting. The CUSA Fee Policy was filed with the University of the Philippines (UP) Law Center and letters were sent to all locators and residents. Public hearings were also conducted regarding the implementation of the said policy. Philip Morris received billings for the CUSA Fee and was charged an amount of P59,166.12 per month at a rate of P1.20 per sq. To avoid penalties, Philip Morris paid the amount under protest. On August 30, 2013, Philip Morris filed a complaint for injunction with application for Issuance of a writ of preliminary injunction against SBMA.

care workers, senior citizens, and those with comorbidities will be fully vaccinated.

Tuesday, August 24, 2021

Ex-DPWH chief highlights PNoy admin’s infra legacy

ormer Department of Public Works and Highways (DPWH) Secretary Rogelio “Babes” Singson highlighted the strategic policy reforms and infrastructure projects of the administration of the late President Benigno Simeon Aquino III that have resulted in long-term benefits for the Philippines during a recent virtual town hall discussion hosted by think tank Stratbase Albert del Rosario Institute (ADRi) in commemoration of Ninoy Aquino Day. He discussed major strategic policies adopted by the Aquino administration, namely, the Good Governance Reform and Anti-Corruption Program, Strategic Convergence Program, the Public-Private-Partnership program, and the DPWH management policy of “Right Projects, Right Cost, Right Quality, Right on Time, and Implemented by the Right People.” Singson said, “What we did was really upgrade our Philippine National Roads into higher standards and safer roads.” “We did not implement projects that only benefited a few or were based on the whims of the politicians in the area. So, we had to choose the right projects,” Singson said. Singson pointed out that, “Under our Public-Private Partnership program, we developed High Standard Highway Master Plan for Metro Manila and radius from NCR [National Capital Region], which means, all the way to the north, to Tarlac, all the way to the south, leading to Batangas and to Quezon province, we had already established the High Standard Highway to connect and disperse people from Metro Manila.”

He added, “We already had paved almost 100 percent of almost all primary national roads, 90 percent of secondary roads, and tertiary at 80 percent. In terms of bridges, we have already fixed all of the bridges. We had already made permanent all the wooden bridges we inherited in 2010.” “We had to open a lot of east-west which led to the major ports of Cagayan de Oro, Nasipit, Sasa Port in Davao, and General Santos. So what we did was connect the ports, airports to the major production centers in the whole of Mindanao. To me this was a major development that we consider a major legacy of the Aquino administration,” Singson said. ADRi President Prof. Dindo Manhit, in his statement, said “by contrasting the practices, policies, and results of the Duterte administration with those of the Aquino administration, we can extract valuable lessons for current and future leaders to build back better through the preservation and the promotion of a democratic way of life, a democracy with integrity and decency in government, public participation, transparency, and dynamism for social and institutional reforms.” “I believe that principled leadership, good governance, a dignified foreign policy is good economics. We need a reality check for all Filipinos and government leaders. In facing challenges, great leaders may be adventurous in their decisions and actions. Greater leaders decide by principle, and confidently act through reforms. This is the political wisdom behind building back better that should enlighten us in the 2022 national elections,” Manhit said.

A10 Tuesday, August 24, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The DOH drama

he Health Department is facing a storm inadvertently created by Secretary Francisco Duque III. The Health chief ignited a firestorm of controversy after the Commission on Audit (COA) flagged the agency for numerous “deficiencies” in the use of a P67.3-billion fund, which undermined the timely and efficient response to the pandemic last year. Perhaps sucked into the conspiracy vortex, Duque sees the COA’s 2020 Consolidated Annual Audit Report as venom that tears his organization apart. He perceives the report that found deficiencies in the agency’s use of its Covid response fund as morale buster for Department of Health (DOH) personnel. “I think COA should also consider that we are not operating under normal circumstances. We’re operating under a state of public health emergency,” Duque said in a congressional hearing. “Winarak na ninyo kami. Winarak ninyo ang dangal ng DOH. Winarak ninyo ang lahat ng mga kasama dito,” he added. From COA: “The Consolidated Annual Audit Report for FY 2020 of the Department of Health contains observations and findings made by the Commission on Audit on the utilization of the budget by the DOH. Accompanying the observations and findings are the recommendations made by the auditors for the management of DOH to address the observation and findings. These are part of the audit process, which allows the audited agency to comply with the recommendations and rectify any deficiencies. The Report itself does not mention any findings by the auditors of funds lost to corruption. Of the P67.3 billion, P42.4 billion consisted of fund transfers to procurement/implementing partner-agencies without the required documentation. There is no finding that this amount cannot be accounted for.” Most government officials get an Audit Observation Memorandum from COA. As this is mostly procedural in nature, all they need to do is answer it, or justify their transactions. It’s so easy for Duque to clear the DOH’s “ruined honor,” to use his words. Just submit to COA the needed documents that justify or clarify questioned transactions. As the issue has been magnified on social media, what the people “see” are deficiencies and questionable DOH transactions. Senator Richard J. Gordon, chairman of the Senate Blue Ribbon Committee, called for a hearing on the alleged deficiencies in management of the DOH Covid-19 funds following complaints from health-care workers (HCWs) regarding the delay in the issuance of their benefits such as the active hazard duty pay and special risk allowance, among others. Gordon said they focused initially on the hazard pay and special risk allowance of HCWs deployed in the Covid-19 response, given widespread complaints of health frontliners in both the public and private hospitals that they did not receive these, despite being mandated by the Bayanihan to Heal as One law. “We are calling this hearing because this is a very serious matter and we cannot just turn a blind eye or a deaf ear to this issue. Some of our health workers are not getting the right benefits and this problem has become so grave that they now mull mass resignation over lack of benefits. Not only are our health workers getting sick and dying of Covid-19; they are also demoralized,” Gordon said. While questioning DOH officials, Gordon discovered why the health-care workers’ benefits were not given on time. The Department of Budget and Management only released funds to DOH five days before the lapse of Bayanihan 1! Gordon snapped: “We are fighting a medical war. No government worth its salt should ever allow its soldiers, the medical workers in this case, to go to war without adequate support and compensation.” In June, the DOH announced that the P9 billion funds for the new tranche of SRA for health workers have been released to the agency’s regional offices. Gordon said the responsibility of Secretary Duque does not stop in releasing the money. The Health chief, he said, has to make sure that the money reaches the intended recipients. A wise man once said, “attitude reflects leadership.” It is a leader’s job to create an environment that promotes good morale. In the case of the DOH, the lack of knowledge by the leadership of frontline frustrations became a large part of the problem. Leaders can’t address issues they are not aware of, and, in the case of the DOH chief, he needs to communicate with health-care workers for him to know their true perspectives and feelings. In the time of the pandemic, our health-care workers continually risk their lives to keep us safe. We can’t thank them enough for their hard work, selflessness, and compassion during these difficult times. The least we can do is to give them adequate compensation without delay.

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THE Entrepreneur

E have seen what severe lockdowns are doing to the Philippine economy. They have shut down thousands of small businesses, displaced hundreds of thousands of workers and dampened household consumption.

The enhanced community quarantine has swelled the ranks of the poor and is not, to me, the most efficient way to curb the spread of Covid-19 and its Delta variant. A ramped-up vaccination is the clear solution to the virus spread, but pending the arrival of more supplies, we should live with the virus and do our best to protect the population for the meantime. I personally think that it is time again to calibrate our tactics in reducing the menace of the virus, while balancing them with the risks and benefits of reopening the economy. The enhanced community quarantine per last week’s data has failed to contain the number of Covid-19 cases in the nation. The ECQ clearly failed to achieve its desired results, while wrecking havoc on the economy at the same time. Daily Covid-19 cases in the Philippines hit a record 17,231 on Friday and have not gone down below 10,000 since August 17, 2021. Other Asian countries in this part of the world are not faring better, although the “fewer” cases we have

here are not a consolation. Japan logged 25,155 daily cases on Friday while Malaysia reported a new record of 23,564. Thailand had 19,851 in daily cases on the same day, while Indonesia settled with 20,004. But the number of cases in these other countries belies their readiness to reopen the economy. Japan has the confidence to further reopen its economy with a vaccination rate of 51.56 percent (first and second doses) of its total population. Thailand, per the latest data of ourworldindata.org, has inoculated 27.43 percent; Indonesia, 20.49 percent; and Malaysia 55.01 percent. The Philippines so far has vaccinated 17.07 percent of its population. The interagency Development Budget Coordination Committee, a grouping of the country’s economic managers, immediately saw the negative effects of the ECQ on the economic output just over a week of its implementation. The collegial body reduced the 2021 gross domestic product growth forecast by two percentage points from the previous range of 6 percent to 7 percent, to 4

Dynamic stability John Mangun

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Manny B. Villar

Lourdes M. Fernandez

Senior Editors

Creative Director Chief Photographer

ECQ should no longer be an option

OUTSIDE THE BOX

hich of the two scenarios is better? You teach your child the moral lesson by encouraging and supporting discipline and a diligent work ethic, which will make him or her a better person and a more useful member of society. Or, you teach your child the monetary lesson by compensating him or her with material benefits for excellent grades in school, showing that better performance gains better rewards. It’s a trick question. Good parents spend much time and effort providing some sort of system to help their children develop into responsible adults, which usually provides for a better life for their children and that is what we all want. We parents have the difficult task no matter if the choice is “moral” or “monetary.” That is one reason the first paragraph is a “trick question.” There is another. In 1803, the French mathematician Lazare Carnot proposed that in any natural process there exists an inherent tendency towards the dissipation

of useful energy. We call that concept and process “Entropy.” A consequence of entropy is that certain processes are irreversible. For example, “cold” is the absence of “heat.” Your refrigerator takes “heat” out of the box and puts it on the outside. Heat will flow to a cold area like placing a pot of boiling water in the freezer. But entropy also is the concept that if left alone from external forces, everything will go from an orderly state to disorder like a raw or green mango to a rotten mango. Just like children.

percent to 5 percent in the wake of the latest ECQ in Metro Manila and nearby provinces. The lower gross domestic product (GDP) growth means reduced employment opportunities for the rest of the year, when we should be creating jobs in the time of the pandemic. It also translates into lower state revenues because of fewer business transactions. The government, thus, has little resources to meet the funding needs of the poor (through “ayuda”) and may be forced to borrow money here and abroad. The government, among other things, must see to it that indispensable social programs like the Pantawid Pamilyang Pilipino Program, or 4Ps, are sustained. 4Ps provide conditional cash grants to the poorest of the poor in the nation, in order to improve the health, nutrition and the education of children aged 0-18. We can, perhaps, contain the virus spread without undermining the Philippine economy. As I have written in this column in the past, I favor granular or selective lockdowns instead of an ECQ or widespread quarantines. I agree with the position of the DBCC and my peers in the business community. We must remember that we balanced Covid-19 risks with economic reopening that enabled the GDP to grow 11.8 percent in the second quarter. The Philippine Chamber of Commerce and Industry aptly puts it when it warned against the ECQ or any of its modified form. An extended lockdown is erasing the temporary economic gains the Philippines has

Romanian economist Nicholas Georgescu-Roegen touched on the idea in 1971 as he argued that economic scarcity is rooted in physical reality like over enough time, all mineral resources will be totally exploited and disappear. However, even with entropy ruining our lives on a daily basis (my air con never needed repair until enhanced community quarantine), the broader picture shows an eventual long-term equilibrium in many instances. A rotten mango that falls from the tree to the ground can produce—overtime— a healthy mango tree producing more mangoes. Léon Walras, a French economist working on the ideas of classical economist Adam Smith, propounded the idea that economies and markets always return to a steady stable state regardless of the amount of natural entropy. How much entropy has the pandemic caused? However, there is “dynamic stability” as when a supply shortage causes an imbalance in supply and demand, raising prices. Then suppliers increase production to take advantage of the higher prices. Unfortunately, there is “artificial stability” such as when government intervenes by subsidizing the price of common goods like gasoline or rice. This can lead to serious shortages if

achieved so far and could stop the momentum of business from moving forward. We can manage the health risks by enforcing granular quarantines that will allow a greater number of people to earn a living. Localized lockdowns, or the confinement of a few people in some areas with a clustering of Covid-19 cases, will be more effective in tracking down and containing the infection. I am glad Metro Manila mayors are now supportive of this tack. Our local executives in the capital region are now amenable to a less restrictive quarantine level. Local executives and the national government can reallocate police and military assets to Covid-19 hotspots in Metro Manila and nearby provinces so they can effectively implement localized lockdowns, testing and tracing. But our authorities should do more in easing the quarantine rules. Last week’s modified ECQ that started on Saturday still banned dine-in and al fresco dining, beauty salons, barbershops and nail spas. The modified lockdown form will not create employment and keep those previously working in malls, fast-food, restaurants and small retail outlets still jobless. The increasing number of Covid-19 cases in the Philippines is not the doing of many of our Filipino workers, who have religiously adhered to rigid health protocols. They should not be penalized for the misdeeds of a recalcitrant few. For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar. com.ph

the subsidies are never removed, as there is no incentive for increased production. The New York stock market has always been going up for the past 13 years until briefly in 2020 when Covid shut down the whole economy. No entropy whatsoever in over a decade? Never a correction and reversal? In physics, “dynamic stability” is the ability of a system to return to a steady state of operation after significant disturbances. Apparently, there was never a situation in the US during the past decade that could be classified as a “significant disturbance,” Artificial stability strips the mechanisms of dynamic stability. “Dynamic stability” requires volatility, liquidity, and removes the illusions of low risk of artificial stability that essentially guarantees gains for those who continue to increase their positions, as has been the case this past decade. “Artificial stability” was brought to the stock market by the never ending “money pumping” by the US Federal Reserve. Like removing price controls and subsidies, if the forces behind artificial stability ends, it is always crash-and-burn.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

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Opinion

YouTuber not YouTube

A gloomy Sunday

BusinessMirror

Atty. Irwin C. Nidea Jr.

Manny F. Dooc

Tax law for business

TELLTALES

here are many popular apps that changed the landscape of media as we know it. These platforms are used by celebrities and ordinary citizens to deliver interesting and wide array of entertainment contents. The number of likes and engagements are measured by these social-media sites and the creators also known as social-media influencers are rewarded with substantial compensation.

ast Sunday (Saturday night in the US) was the gloomiest weekend in New York City and Manila. In the Big Apple, it was supposed to be a grand celebration to mark the comeback of New York City after a harrowing 18 months of pandemic. Thousands of New Yorkers and even from remote places trooped to the Central Park to watch live an all-star concert headlined by the top artists from the music world.

The Bureau of Internal Revenue (BIR) is aware that these socialmedia influencers are earning a lot as many of them naively flaunt their earnings in their own socialmedia account. In RMC 97-2021, the tax man is now after bloggers and video bloggers who derive income from the following sources, among others: YouTube Partner Program, sponsored social and blog posts, display advertising, becoming a brand representative/ambassador, affiliate marketing, co-creating product lines, promoting own products, photo and video sales, digital courses, subscriptions, and e-books, podcasts and webinars. This is just fair since ordinary working Filipinos are required to register and pay tax. Social-media influencers are also required to withhold creditable/expanded withholding tax, final taxes, or other withholding taxes and remit the same to the BIR as well as issue the necessary Certificates of Tax Withheld, and failure to comply would mean corresponding penalties and criminal liability. It is not the first time that the BIR has targeted this new economy. Through the years, the BIR has issued circulars to address the different players of the digital economy. In 2013, the BIR issued RMC No. 55-2013 subjecting to tax online business transactions such as online shopping or retailing, online intermediary service, online advertisement and online auction. These online entities, treated similarly with any other brick-and-mortar businesses, are required to be BIRregistered, obtain and issue invoices and receipts, and most importantly, be subject to the corresponding taxes such as income tax on its earnings, withholding taxes, and value-added tax (VAT) or percentage tax, among others. In 2015, the BIR, through RMC 70-2015, required transport network companies (TNCs) and their partners (i.e., owner or driver of vehicle) to likewise register with the BIR, secure and issue registered official receipts and be subject to income and business taxes. The BIR also issued RMC 602020 reminding persons conducting business through any forms of electronic media to pay taxes and register their business with the BIR. It covers individuals and nonindividuals who are partner sellers/merchants, payment gateways, delivery channels, Internet service providers and other facilitators. The RMC did not specify whether it seeks to cover both residents and non-resident individuals or corporations. But as can be gleaned from the RMC’s registration guidelines and requirements, (i.e., Birth Certificate and Department of Trade and Indus-

The featured top performers included Bruce Springsteen, Barry Manilow, Paul Simon, Earth, Wind and Fire, Jennifer Hudson, the New York Philharmonic Orchestra, among other celebrities. The event was fittingly called, “We Love NYC: The Homecoming Concert” and was conceived by Mayor Bill de Blasio to highlight NY City’s resilience and its people’s tenacity to confront the horrors of Covid-19. The concert signifies the city’s comeback to normal life after a grueling struggle against the pandemic. It aims to rekindle hope among the New Yorkers whose native city was the epicenter of the coronavirus at the beginning of the pandemic during the first half of 2020. Today it is leading the country in the recovery efforts and its government leaders have been at the forefront of containing the spread of the dreaded Delta variant by adopting stringent measures such as intensive vaccination, strict requirement of masks and social distancing and other health protocols. New Yorkers agree that “it is vital and important that New York be back.” Although concerned that the event would be a superspreader, Mayor de Blasio pushed for the holding of the concert but he announced that only vaccinated people would be

try registration for Individuals, and SEC Certificate of Registration and Articles of Incorporation/Partnership for Non-individuals), the said documents would seem to apply to resident entities only. The House of Representatives, on the other hand, introduced bills to amend the country’s VAT law by clarifying that all goods, “including electronic in nature,” and all kinds of services, “whether rendered electronically or otherwise,” shall be subject to 12-percent VAT. The bills also added to the current VAT coverage the supply by any resident or non-resident person of digital advertising services, subscriptionbased services and digital services (i.e., Google, Facebook, Amazon, YouTube, among others). There is, however, no specific provision on the House bills amending the current provisions on income tax, except on withholding tax for individual members of network orchestrators. The requirement for the non-residents to establish a representative office or agent in the Philippines has been scrapped since the country has treaty obligations, specifically on the creation of a permanent establishment before Philippine income tax may attach. This is the hurdle why the latest House Bill is just imposing VAT and not income tax on digital transactions. It appears that currently, the BIR can only capture Philippine residents that are engaged in the digital economy. Philippine online platforms, online sellers and social-media inf luencers must rightfully be subjected to tax. But the real revenue can be derived by the government from the online platforms by which the online sellers and social-media influencers conduct their business. Unfortunately, it seems that they are out of reach by our current laws mainly because they are registered in a foreign country. I hope the discourse surrounding the issue of taxing the foreign online platforms will gain traction once again. The target should not only be Philippine residents. Our country must be given its fair share of the income that these foreign registered platforms derive from us. The author is a senior partner of Du-Baladad and Associates Law Offices, a member-firm of WTS Global.  The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at irwin.c.nideajr@bdblaw.com.ph or call 84032001 local 330.

allowed in the outdoor concert. Proof of vaccination would be required, as well as wearing a mask. The NYC concert started at 5 p.m. with a ray of sunshine, which encouraged the huge crowd to go out and mill around the park. But as it got underway, lightning and thunder struck in the sky sending the multitude to scamper for cover. Barry Manilow was belting out his song, “Can’t Smile Without You” when the audience left him, wiping the smile on Manilow’s face. Hurricane Henri, an uninvited guest, broke up the party and cancelled the big event. A guy from Long Island had put it succinctly, “It kinda summarizes 2020 and 2021 for us. If you look at it, it sucks all around.… This would be the concert that people get rained on and it gets cancelled and everyone gets screwed.” Pretty much like our life during this pandemic. Lockdown. Decrease in number of cases. Lift lockdown. Spike in cases. Reimpose lockdown. A never-ending ordeal and agony for all our people. In another city, Las Vegas, the entertainment capital of the world, Filipinos’ yearning for a quiet Sunday was upended when Yordenis Ugas, an underrated Cuban boxer scored a dramatic upset over our boxing

Tuesday, August 24, 2021 A11

We commiserate with Pacman on his loss against Ugas. Pacman has suffered losses before but this last one is the costliest. He did not only fail to regain his boxing crown but his dream to achieve the crowning glory of his political journey may also be in jeopardy. Filipinos love a winner and he badly needed the victory against Ugas to bolster his chance to capture the presidency. legend, Manny Pacquiao. Pacman, at age 42, was oftentimes caught flatfooted by the lightly regarded Ugas who was a last minute replacement for Errol Spence, Pacman’s original opponent. Spence, the holder of two welterweight crowns, accepted the challenge of Pacman to stake his crowns in a world title fight. Unfortunately, Spence suffered from a detached retina, which prompted him to withdraw from the bout. The three judges awarded the fight unanimously to Ugas, which underlines the Cuban fighter’s domination of the bout. Pacman graciously and humbly accepted the decision. He said later after the fight, “That’s boxing. I had a hard time making the adjustments. My legs were tight. I’m sorry I lost tonight, but I did my best.” But his best was not good enough when he’s fighting a much bigger and younger opponent like Ugas. It’s true that he had fought and won over bigger and more intimidating adversaries but that was during his prime and he was much younger. It is unfortunate that two major events have dampened, instead of uplifting, the spirits of the New Yorkers and the Filipinos. It was a gloomy Sunday, which is normally a day of peace and quiet with our family. But last Sunday was a much-anticipated day where every New Yorker and every Filipino was expecting an exciting

The kids are going to be alright Lyca Balita

Onwards

S I write this, Jade plays with a yellow balloon two times bigger than his small, shaved head. He’s six, with bright eyes and an ever-present grin. With his head turned up, he gently hits the yellow balloon with his small palms, making hollow rubber sounds every few seconds. To his colorful mind, he must prevent the balloons from touching the wooden floor, or else all hell will break loose. A couple of minutes in, and a loud boom fills the room. Then silence. I ask him if he’s hurt, and with wide eyes he says no, so I tell him that it’s okay and he can get more balloons downstairs. He comes back with five more balloons— bright red ones this time, all still bigger than him—and he goes on excitedly playing with them again. He’s always been an active kid with a wild imagination, and nothing gets him more excited than running around and moving. I ask him what he wants to be when he grows up and he casually replies, “Spiderman.” I almost corrected him because that’s what “adults” did during our time. But I saw his Spiderman slippers and watch, so I opted to nod and give him a high

five. That moment, I realized that the kids are going to be alright. Back in our time, specifically for those born before the 2000s, we had to get “real” jobs because these were supposedly more impressive—even if we didn’t want to, we had to be doctors, lawyers, engineers, nurses, and all the other occupations that required pretty diplomas, years of study, and board exams. This mindset presupposed the existence of less real jobs, which mostly referred to anything related to the arts. Hence, today, we have engineers with secret unfinished melodies in their Voice Recording apps, lawyers who still unknowingly doodle on corners of scratch paper, and nurses with stanzas of poetry in their Notes

apps, among others. We have numerous “successful professionals” who pursued the “real” jobs, but whose chests twinge upon meeting those who bravely traversed the less traveled roads. Whether or not filled with regret, trying them out would’ve been nice. In another universe, maybe? I realized that the kids are going to be alright when I noticed that we, millennials especially, have just collectively decided to end that old school mindset in the past. Now, we actively encourage kids to pursue their passions, whether it’s sports, arts, business, or creation. This is evident in the rising number of very young entrepreneurs, YouTubers, TikTokers, streamers, and just young content creators altogether all over the Internet. Beyond the Internet, we also have younger athletes joining the Olympics, and for formal education, we have Philippine universities offering more modern degrees such as animation, computer applications, and Esports—and the list gets more interesting in universities abroad. The world is changing, and the future is so colorful for the kids of the new generation. With our more open minds plus the new opportunities and platforms opened up by modern technology, the kids are going to have so many options

Xi doubles mentions of ‘common prosperity,’ warning China’s rich

resident Xi Jinping’s rhetoric about “common prosperity” surged this year, evidence of the Communist Party’s commitment to closing the country’s yawning wealth gap. The term appeared sporadically in his first eight years in power. Last year, he began to reference “common prosperity” more often and has picked up the pace: The phrase has appeared 65 times in Xi’s speeches and meetings so far this year, compared with 30 in all of last year.

The sloganeering signals the strength of Xi’s intent, said Maria Repnikova, who studies China’s political communication at Georgia State University. “Slogans often capture new policy directions or shifts and can signal how the policy is changing,” she said. “They’re also often broad, leaving some space for ambiguity and adjustment in interpretation.” The government put a finer point on it last week. The party’s top economic and financial affairs committee vowed at a meeting

Tuesday to “reasonably adjust high incomes,” encourage philanthropy and pursue other strategies to bring the country’s income distribution into the more ideal olive-shaped structure, small on both ends and fat in the middle. During the Tuesday meeting top policy makers pledged to use “taxation, social security and transfer payment” policies and to tackle illegal and “unreasonable” income. They also suggested that Xi’s target may for the first time expand to include

the merely wealthy in addition to the ultrarich. Xi had previously focused on “excessively high income,” according to a Bloomberg analysis of his speeches. There’s no official definition of the two groups, but the overall egalitarian push seems to implicate a wider swath of top earners. The idea of “common prosperity” was originally introduced into party documents by Mao Zedong to reflect the pursuit of a more egalitarian society. It fell out of frequent use under Deng Xiaoping, who shifted the fo-

cus to developing an economy that would allow “some people to get rich first.” Common prosperity, he said, would come later. China’s richest 20 percent earn more than 10 times the poorest 20 percent, a gap that hasn’t budged since 2015. The country counts 400 million people—about one-third of its population—in its middle class, defined as those with annual household income between 100,000 yuan ($15,392) and 500,000 yuan. More than 600 million people in China still live on a monthly

day amid this pandemic. In the case of our friends from New York, despite the optimism of the city’s leaders, nature has signaled that NYC is not yet ready for a comeback. It may take some more time but with the city’s resolve and its people’s resilience, New Yorkers will find themselves, as the song claims, number one, top of the list, head of the heap and king of the hill. It’s not a question of whether New York City can come back, but how soon. In Manila, the sky was overcast and occasional rains dampened the spirit for the rest of Sunday. Manila weather, not just its people, grieved with Pacman’s loss. We spent the rest of the day subdued and dejected. We could hardly bear watching the replays of the fight in the evening news. Words of sympathy, love and support, coming from both friends and foes, were heaped on the People’s Champ. For more than two decades, Pacman has given us much honor, joy and pride. No professional boxer, before or following Pacman, has captured world titles in eight different weight divisions. I boldly wrote once that it is a record that will remain in the history books of boxing forever. We commiserate with Pacman on his loss against Ugas. Pacman has suffered losses before but this last one is the costliest. He did not only fail to regain his boxing crown but his dream to achieve the crowning glory of his political journey may also be in jeopardy. Filipinos love a winner and he badly needed the victory against Ugas to bolster his chance to capture the presidency. But Pacman is not an ordinary fighter. He has shown in the past that he could pick up after a crushing defeat and has gone on to win again. He lost to Marquez and Mayweather in the ring, among others. He was defeated by Congresswoman Darlene Antonino. No question he has done that whether in boxing or in politics.

on how they can pursue their passions. May we support and guide them the way we wish we were supported and guided—with assurance, open-mindedness, and gentleness. When they make mistakes and the balloons pop, let’s help them clean up, then get five more they can play with. We end the curses in our generations, and nudge the door a little wider for the kids. At the rate we’re going, with our awareness and openness and our desire to leave the world better off than when we arrived, the kids are definitely going to be alright. The great thing about this mindset of leaving behind a better world is that we can apply this in all other aspects of life: careers, the environment, and even philosophies. The phrase, “noong panahon ko,” is no longer going to be used to justify why we keep harmful traditional concepts, but instead we use it to show how much improvement we’ve made for the next generations. Still, for those of us who succumbed to traditional expectations, it isn’t too late to pivot. Even now, we can chase what, to this day, still makes our hearts sing. The kids are going to be alright; we can focus on ourselves, too. For feedback, send an e-mail to lyca.balita@ gmail.com

income of 1,000 yuan. In a series of front-page commentaries published in recent days, the official Economic Daily newspaper said China needed to “prevent the trap of high welfare” and “avoid overemphasizing material comfort,” suggesting caution against people slacking off as a result of the commonprosperity push. The government needed to implement policies that encourage people to achieve wealth through hard work and innovation, the newspaper said. Bloomberg News

A12 Tuesday, August 24, 2021

SUGAR-FOR-U.S. EXPORT NIXED IF OUTPUT CAN’T MEET LOCAL DEMAND By Jasper Emmanuel Y. Arcalas

@jearcalas

FARMERS’ group is proposing that the Sugar Regulatory Administration (SRA) not allocate any sugar volume for export to the United States in the next crop year if the projected output will only be able to meet domestic demand. “There is no point to allocate A sugar when we will also import the differential to satisfy the local needs.” United Sugar Producers Federation (Unifed) President Manuel Lamata said in a statement on Monday. Lamata’s group made the statement in anticipation of the issuance of Sugar Order (SO) No. 1, which sets the policy direction for the crop year by outlining production volume allocation. The SO 1 for crop year 20212022, which starts on September 1, is expected to be issued by the SRA next week. Lamata said certain sectors in the sugar industry are “pushing for a 7 to 8 percent allocation for the US market,” which is almost the same allocation rate in the previous crop year. “Unifed agreed to a seven percent allocation of A sugar last year. But the problem was farmers were shortchanged because the differential given was only P100 instead of the expected P400. In other words, somebody made money, but it was not the farmers,” he said. Lamata noted that scrap-

ping A sugar allocation for a crop year has been done in the past, particularly when sugar output could not meet domestic demand for the sweetener. “It has been done, and we are asking SRA to do it again and prioritize the local market,” he said. Unifed also urged the SRA to release immediately its crop estimates for the next crop year. The SRA’s crop estimates serve as the basis of various industry groups, including producers and millers, for their proposed allocation for the upcoming crop year. “This has to be conducted immediately and we urge the SRA to check on sugar balances of the mills so we can come up with accurate data,” he said. “Sugar mills have already opened, yet we have yet to hear from SRA as to their projection for this crop year,” he added. At the start of the current crop year 2020-2021, the SRA allocated 7 percent of sugar production for US exports, but later on scrapped it and allocated all volume for the domestic market due to lower-than-expected supply output. The country’s sugar output as of August 1 stood at 2.138 million metric tons (MMT), slightly lower than the 2.145 MMT recorded in the same period of last year. SRA’s last projection for total output in the crop year 2020-2021 was at 2.101 MMT, a downward revision from its earlier estimate of 2.19 MMT.

Congress gets last Duterte budget, at ₧5.024T, for ’22

By Jovee Marie N. dela Cruz

@joveemarie

HE Executive on Monday submitted to the House of Representatives its proposed P5.024-trillion National Expenditure Program (NEP) for 2022. This last budget of the Duterte administration, falling on an election year, will focus on people’s health, including booster vaccines and economic recovery, as the response to the Covid-19 pandemic continues.

With the theme, “Sustaining the Legacy of Real Change for Future Generations,” the 2022 NEP is equivalent to 22.8 percent of gross domestic product (GDP) and is higher by 11.5 percent than this year’s national budget. In his last budget message to the members of Congress, President Rodrigo Duterte said the proposed P5.024-trillion budget will energize the economy enabling the country to regain consumer and business confidence, as the Philippines pursues a real GDP growth target of 7 to 9 percent for next year. “To ensure that the 2022 national budget would be an effective impetus to drive us back to a strong and genuine recovery, the crafting of the P5.024-trillion proposed budget is guided by three

main pillars: building resilience amidst the pandemic; sustaining the momentum towards recovery; and continuing the legacy of infrastructure development,” he said. For 2022, the President said the government expects to generate P3.290 trillion in total revenues, representing 14.9 percent of the GDP. Also, he said the deficit as a share of GDP will reach 7.5 percent next year, lower than the 9.3 percent of GDP program this year. “Financing requirements will rely mostly on domestic sources, with a borrowing mix of 77:23 to ensure fiscal sustainability, as we gradually bring the deficit back to pre-Covid levels over the medium term,” the President said. “Notwithstanding the challeng-

es ahead, we still commit to a manageable and sustainable debt-toGDP ratio over the medium-term. Evidently, despite our debt-to-GDP ratio reaching 54.6 percent last year due to Covid-19 spending and inevitable drop in revenues as a result of the pandemic, our prudent and effective fiscal, debt, and liability management strategies in recent years, as reflected in our historically low deficit and debt-to-GDP ratios, enabled us to afford the temporary deviation and expansion of the deficit from the pre-pandemic program of 3.2 percent of the GDP,” he added. Duterte, however, admitted that the onslaught of the Covid-19 pandemic has reversed some of his administration’s gains. “Almost 18 months since the outbreak of the pandemic in our country, the unseen enemy persists to threaten our fragile progress, especially with the emergence of new variants of the virus. This, however, does not deter us from continuing our effective pandemic response focused on vigorously-pursued vaccination programs, among others,” Duterte said in his budget message. “Today, I present the proposed national budget of P5.024 trillion for 2022. It is the last full-year financial program crafted by my ad-

ministration—a crucial documents because it is key to our success in the battle against Covid-19 in the coming year,” he added.

Spending priorities

In a statement, the Department of Budget and Management (DBM) said the NEP was carefully crafted to provide the necessary funding requirements to support the country’s resilience against the pandemic, to sustain the trajectory of economic growth, and continue the legacy of infrastructure development. The agency said the government will continuously support the implementation of the National Health Insurance Program, with a budgetary support of P80.0 billion, to subsidize the health insurance premium of 13.2 million indigent families and 7.3 million senior citizens. To combat the spread of the Covid-19 virus, the DBM said the intensified rollout of the Prevention, Detection, Isolation, Treatment and Reintegration (PDITR) strategy will be prioritized through the procurement of 758,700 complete sets of personal protective equipment (P819 million) and 11 million GeneXpert cartridges (P5.1 billion). Continued on A2

House eyes Sept. 30 budget OK; Senate starts own review

OUSE Committee on Appropriations Chairman Eric Go Yap said on Monday he has set a meeting with Speaker Lord Allan Velasco and Executive Secretary Salvador Medialdea on Thursday to discuss his proposal to certify as urgent the P5.024-trillion national budget for 2022. According to Yap, his committee will immediately start the budget process with briefings from Development Budget Coordination Committee (DBCC) on Thursday. He said the House is eyeing to finish and approve the 2022 national budget by September 30. As promised, the Executive branch through the Department of Budget and Management on Monday submitted the National Expenditure Program for 2022 to the House of Representatives and the Senate. For his part, Speaker Velasco vowed to scrutinize the NEP for 2022. “Today, we gladly received from President Rodrigo Roa Duterte— through the Department of Budget and Management—the National Expenditure Program that would assist the legislature in the review and deliberation of the proposed national budget for fiscal year 2022,” he said. “This officially signals the start of the budget season in Congress or the legislative process of evaluation, debate and amendment which we hope could lead to the timely and decisive passage of the 2022

General Appropriations Act,” he added. Majority Leader Martin Romualdez said he supports the decision of President Duterte to mainstream health in every aspect of the budget priorities. “Now that Congress has formally received the 2022 NEP, it is now the duty of your Representatives to review the proposed budget to ensure that the people’s taxes will be spent fairly and equitably among regions. Rest assured that during the congressional review, our people’s interest in these challenging times will be our primordial concern,” Romualdez added.

Senate ‘on track’

The Senate is on track to start early review of the P5.024-trillion proposed 2021 national budget upon receipt of the voluminous documents detailing the various spending items to be funded in the annual General Appropriations Act. The senators, as in the past, are expected to break up into smaller committees that can simultaneously scrutinize the National Expenditure Program (NEP) and sort out questionable items with executive agencies, in order to fast-track review and Senate deliberations once the House approves their budget version. The voluminous budget documents comprising the NEP were submitted to Senate President Vicente Sotto III by DBM Undersecretary Janet Abuel. Continued on A2

A worker in protective suit picks up donated goods outside the Hospicio de San Jose in San Miguel, Manila, on Monday, August 23, 2021. The institution is asking for donations due to a surge in Covid-19 cases, with a total of 103 persons infected by the virus admitted to hospital, according to Sister Socorro Pilar Evidente. NONIE REYES

Comelec vows fair decision on Cusi-Pacquiao tussle By Samuel P. Medenilla

@sam_medenilla

HE Commission on Elections vowed to come out with an objective decision in the ongoing leadership dispute of the Partido Demokratiko Pilipino–Lakas ng Bayan (PDP-Laban). Comelec Chairman Sheriff Abas made the commitment as the factions of Energy Secretary Alfonso Cusi and Senator Emmanuel “Manny” Pacquiao are now vying for the leadership of PDP-Laban.

“Comelec decides depending on the laws, constitution, and by laws of their party,” Abas said during an online press briefing on Comelec’s signing of Memorandum of Agreement with Ayala Malls last Monday. “We don’t care about their [party] politics. We decide on what is right,” Abas said. The camps of Cusi and Pacquiao each submitted a separate Sworn Information Update Statement (SIUS), containing the full name of the party, headquarters address, list of current officials, list of elect-

ed members, and list of members, among others. The split in the PDP-Laban happened after Pacquiao started talking of alleged corruption in the Duterte administration, prompting an angry reaction from President Duterte, who is the chairman of the political party. Pacquiao and Sen. Koko Pimentel, whose father is cofounder of the party born in Mindanao at the height of the Marcos dictatorship, has backed Pacquiao. Both senators criticized Cusi for giving priority to

calling what they deemed a premature party assembly at a time when Cusi’s agency could not provide lawmakers a coherent explanation for power disruptions. Abas said they have handled similar leadership disputes involving PDP-Laban and other political parties. He expects the tension within PDP-Laban to escalate and likened it to one of the boxing matches of Pacquiao. “It will be a bloody [affair] just like a boxing [match] between Pacquiao and Cusi,” Abas said.

Editor: Jennifer A. Ng

Companies BusinessMirror

Tuesday, August 24, 2021

DPC allots ₧3.5B for 2 plants

By Lenie Lectura

@llectura

onsunji-led DMCI Power Corp. (DPC) is setting aside P3.5 billion to construct a 15megawatt (MW) thermal power plant and a 12-MW hybrid diesel-solar power plant.

Of the amount, P2.7 billion will be spent for the thermal plant in Narra, Palawan. The remaining P800 million will be utilized for the hybrid power facility in Cataingan, Masbate. Target commercial operation of the 12MW hybrid power project— 4MW will come from solar energy

while the 8MW will be generated by the diesel plant—is the first quarter of 2022 while the 15MW is set to go online by the second quarter of 2023. “These investments are in response to the government’s mandate to accelerate the exploration,

development and utilization of renewable energy and indigenous fuel resources, thus decreasing our dependence on imported fuel,” said DPC Chief Operating Officer Antonino E. Gatdula Jr. The operation of the new thermal plant is also expected to lower the cost of electricity in Palawan, which will reduce the subsidy paid by all consumers. Once operational, the Palawan and Masbate power plants will increase the company’s installed capacity in the missionary areas to 163.72MW from 136.42MW. DPC was established in 2006 to provide sufficient and reliable electricity to areas that are not connected to the main transmission grid. Its off-takers include the electric cooperatives in Masbate, Palawan and Oriental Mindoro.

The off-grid electricity supplier said the thermal power project is not covered by the moratorium on new coal projects since endorsement from the Department of Energy was secured long before the directive took effect last year. DMCI Holdings, DPC’s parent company, earlier reported that its net income jumped almost five times to P9.5 billion in the first semester, from the P2 billion it reported last year. The surge in net income was due to the rebound of its subsidiaries, Semirara Mining and Power Corp., DMCI Homes and DMCI Mining, the company said. Contributions from DPC grew 5 percent to P270 million from P256 million because of higher electricity sales to Masbate and Palawan.

Medilines plans to expand product portfolio

edilines Distributors Inc., a distributor of medical equipment in the country, on Monday said it is planning to expand its presence as well as its product portfolio to help boost the Philippines’s access to medical devices amid the ongoing pandemic. In light of medical equipment shortages in the country, Medilines—which has been in the in-

dustry for almost 20 year—said it responded to the call through the quick deployment of critical medical equipment despite logistical challenges. “We are proud to be at the frontline of the country’s fight against Covid-19 through the urgent distribution of much needed equipment,” said Medilines Chairman Virgilio Villar, brother of Vista Land & Lifescapes Inc. Chairman Manuel Villar.

Since the onset of the pandemic and despite strict lockdowns, Medilines has been deploying a significant number of Covid-related equipment, including CT scans and mobile x-rays, which help detect possible complications due to the disease. The company has installed a total of 126 dialysis machines and 63 portable reverse osmosis machines in intensive care units

across the Philippines. The firm continues to equip hospitals with more dialysis machines as 30 to 50 percent of hospitalized Covid-19 patients have shown to develop severe kidney injury from the infection. Medilines said it faced logistical challenges most especially during the initial phase of the lockdown when inter-region transport was hampered. VG Cabuag

SEC orders Royal O’ to halt operations

he Securities and Exchange Commission (SEC) has ordered Royal O’ Consultancy Services OPC, Royal O’ International Import and Export OPC and their affiliate companies to stop soliciting investments from the public. The SEC said Royal O’ is operating a scheme disguised as an investment platform for alleged gambling and medical supplies trading activities. In an order the agency issued last August 12, the SEC directed Royal O’, which is a one-person corporation (OPC), to immediately cease and desist from offering securities in the form of investment contracts. The order covers Royal O’s affiliate companies Oromagnet International EGames OPC, Plasmatech Medical Supplies Trading and Princess Joana Jo Alfajid Foundation, as well as owner and CEO Princess Joana Jo Alfajid Campos and president Gretchen Aguas. The order also extends to representatives, salesmen, solicitors, agents, uplines, enablers and influencers, including Scelnna M. Jimenez, Christopher Dimaguila, Christopher Tundag and Honeylyn Grace Israel. The SEC prohibited Royal O’ from moving its assets and cash from banks to ensure the preservation of its assets for the benefit of affected investors. Royal O’ offers two investment programs, depending on the amount

an investor is willing to part with. An investment of P5,000 to P499,000 with a three-month contract would yield a daily return of 3 percent, or 201 percent in 67 days, while an investment of between P500,000 to P10 million is guaranteed higher returns at 60 percent per month, or 360 percent for six months. “The investment scheme employed by Royal O’ has the characteristics of a Ponzi scheme as it promises exorbitant returns with little or no risk at all to investors,” the SEC’s order read. “Clearly, Royal O’s investment scheme is not sustainable because the time will come that no more new investors will come in, and this reality will likely cause grave or irreparable injury or prejudice to the investing public.” Investors could also earn by recruiting more people into the program, where they are promised an additional 6 percent for direct referrals and downlines. The funds sourced from the public are then supposedly invested in various businesses being managed and operated by Campos, such as Oromagnet and Plasmatech. The scheme involves the sale and offer of securities to the public in the form of investment contracts, in which a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others, the SEC said. VG Cabuag

Companies BusinessMirror

Tuesday, August 24, 2021

ERC targeting to conclude probe on gencos in Sept

By Lenie Lectura

@llectura

HE Energy Regulatory Commission (ERC) is expected to release next month the result of its investigation into 17 power generation companies (gencos) earlier found to have breached their plant outage allowance, which caused the unscheduled brownouts from May 31 to June 3. “We committed to finishing the evaluation by September,” said ERC Commissioner Rexie Digal via SMS. Consumer advocate Power for People Coalition (P4P) inquired from ERC Chairperson Agnes Devanadera the status of 35 gencos that were issued notices of non-compliance, investigations for 17 of which were reportedly close to conclusion by July 1 as declared by the ERC in a June 10 hearing of the Senate Committee on Energy. “What happened to these investigations? The ERC owes it to consumers to shed light on why disruptions in their electricity service still happen even though there supposedly are enough power plants in operation and even as they pay increasingly costly charges, especially in these trying times with the pandemic still lingering,” said

Gerry Arances, convenor of P4P. Digal said ERC will “try to have something by end of the month, but safe to say, we may need until September.” P4P also called attention to Sual Unit, SLTEC Unit 1, and Sta. Rita Module 10, which have been given clearance to shut down for maintenance for 70 days, 61 days, and 35 days, respectively, within August to October—all of which are beyond the allowable maximum periods for planned outages as specified in ERC rules. The same group asked the ERC if the probe on this new set of prolonged outages is already underway and if the commission intends to halt the simultaneous shutdowns because, it pointed out, consumers stand to suffer. “The injustice and inconve-

nience suffered by consumers at the hands of these gencos are already undeniable, and we need the ERC to stand guard against even more abuses. Moreover, the commission’s investigations is potentially scathing to coal and fossil fuel obsessed companies currently dominating the power industry, and can be an important signal fire that it is indeed high time we switch to more reliable, sustainable, and affordable renewable systems,” Arances said. Last month, ERC Chairman Agnes Devanadera told the Senate Energy Committee that her office has already evaluated the gencos’ explanations following the show-cause orders issued on June 22. “We have already evaluated their explanations, [most] are mere allegations not supported by documents. We asked them to support their allegations. It’s really moving and we’re

looking also [at] how they complied or did not comply with the performance indices,” said Devanadera. The ERC is also looking into possible collusion among gencos whose facilities were on extended shutdown, including those that performed unplanned maintenance that led to rotational brownouts in Luzon last month. The Department of Energy earlier said gencos that reported prolonged plant outages could face charges of anti-competitive behavior and economic sabotage for violating government-enforced laws and policies. Gencos, except for those operating hydroelectric power plants, are not allowed by the DOE to conduct power plant maintenance during the peak quarter. Also, the ERC has put in place a cap on annual unplanned outages per generating plant technology to promote accountability.

mutual funds

August 23, 2021

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

214.66

8.04%

-6.12%

-4.82%

-5.53%

ATRAM Alpha Opportunity Fund, Inc. -a

1.4684

43.34%

-0.24%

0.17%

11.84%

-10.2%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9614

-7.79%

-5.48%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7365 7.93%

-6.99% n.a.

-8.38%

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

-4.69% n.a.

-0.22%

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

4.7644

11.86% 6.89% 11.47%

-3.8%

-2.96%

-3.58%

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.7122

6.33%

-6.13%

-6.84%

MBG Equity Investment Fund, Inc. -a

97.06

24.82%

-4.5% n.a.

-4.79%

PAMI Equity Index Fund, Inc. -a

43.7244

9.65%

-4.65%

-3.88%

-6.67%

Philam Strategic Growth Fund, Inc. -a

461.65

7.69%

-4.22%

-4.16%

-5.59%

19.17% n.a. n.a.

-3.13%

Philequity Alpha One Fund, Inc. -a,d,5

1.063

Philequity Dividend Yield Fund, Inc. -a

1.1402

12.56%

-3.86%

-3.03%

-2.4%

Philequity Fund, Inc. -a

33.2411

11.66%

-3.98%

-2.72%

-4.4%

8.31% n.a. n.a.

-6.23%

Philequity MSCI Philippine Index Fund, Inc. -a

0.8561

Philequity PSE Index Fund Inc. -a

4.4961

10.46%

-3.97%

-3.11%

-6.16%

Philippine Stock Index Fund Corp. -a

750.72

10.33%

-3.96%

-3.28%

-6.35%

Soldivo Strategic Growth Fund, Inc. -a

0.6871

13.05%

-7.67%

-6.13%

-4.42%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.476

10.39%

-5.69%

-4.22%

-4.08%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8574 9.95%

-4.29%

-3.42%

-6.57%

United Fund, Inc. -a

-4.33%

-2.34%

-5.3%

-3.77%

-2.76%

3.1431

10.44%

-6.26%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 100.7999

10.3%

-6.28%

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

$1.1432

7.26%

4.1%

4.84%

-4.96%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7964

19.04%

11.83%

11.38%

7.39%

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

1.6497

4.7%

-0.7%

-2.24%

-1.13%

ATRAM Philippine Balanced Fund, Inc. -a

2.1674

4.86%

-1.71%

-2.13%

-5.16%

First Metro Save and Learn Balanced Fund Inc. -a 2.553

5.54%

-0.46%

-1.07%

-2.82%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1875

1.52% n.a. n.a.

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

4.61%

1.06%

1.9247

-0.26%

-2% -4.37%

PAMI Horizon Fund, Inc. -a

3.6224

3.21%

0.09%

-1.52%

Philam Fund, Inc. -a

16.2258

3.86%

0.24%

-1.49%

-4.2%

Solidaritas Fund, Inc. -a

2.0225

5.51%

-1.09%

-1.14%

-3.42%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4854 6.12%

-2.03%

-2.28%

-2.46%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d

0.97

2.47% n.a. n.a.

-5.14%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8795

3.69% n.a. n.a.

-7.34%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.864

5.22% n.a. n.a.

-7.41%

Sun Life Prosperity Dynamic Fund, Inc. -a

7.62%

0.8744

-2.51%

-2.64%

-1.5%

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

$0.03845

-1.79%

2.89%

1.25%

-1.71%

PAMI Asia Balanced Fund, Inc. -b

$1.0738

2.12%

2.86%

2.73%

-6.64%

14.4%

9.06%

7.97%

4.85%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2169 6.35%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7317

5.29%

4.22%

1.23%

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

372.8

1.28%

3.07%

2.41%

0.47%

1.9253

-1.26%

1.07%

0.2%

1.32%

Cocolife Fixed Income Fund, Inc. -a

3.2374

1.23%

3.53%

4.26%

0.71%

Ekklesia Mutual Fund Inc. -a

2.2604

-2.38%

2.1%

1.16%

-1.55%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4384 -0.98%

3.21%

1.64%

-0.6%

Philam Bond Fund, Inc. -a

4.4818

-4.89%

4.24%

1.11%

-3.3%

Philam Managed Income Fund, Inc. -a, 6

1.3178

0.56%

3.94%

2.67%

-0.26%

ATRAM Corporate Bond Fund, Inc. -a

-5.59%

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

August 23, 2021

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH

43.85 111 81.8 24.25 9.1 46.45 20.5 55.25 19.7 113.2 77.45 4.26 2.88 1.23 0.35 0.65 205.2

45 112.4 82.15 24.45 9.2 46.5 20.6 56 19.88 114.5 77.5 4.3 3 1.35 0.37 0.68 216

44 112.3 82.5 24.4 9.32 45.9 21.25 56 19.6 114.6 77.25 4.3 2.89 1.23 0.345 0.65 216

44 113.2 83.45 24.75 9.4 46.7 21.25 56 19.62 115 78.1 4.32 3 1.35 0.365 0.65 216

44 111 81.8 24.4 9.1 45.7 20.6 56 19.6 113.2 77.2 4.26 2.89 1.23 0.345 0.65 205

44 111 81.8 24.45 9.1 46.5 20.6 56 19.6 113.2 77.45 4.3 3 1.35 0.365 0.65 216

100 1,247,700 1,380,960 31,200 425,700 1,163,600 227,100 50 1,700 72,630 106,070 112,000 15,000 2,000 20,000 1,000 11,100

4,400 139,756,836 113,709,619 763,440 3,931,677 53,876,580 4,699,245 2,800 33,332 8,272,227 8,241,121.50 481,260 43,460 2,580 7,100 650 2,302,538

0 12,576,547 -51,998,762.50 -1,180,262.00 -6,475,765 -592,645 1,078,864 3,273,083 8,600 -

INDUSTRIAL AC ENERGY 9.1 9.11 8.95 9.16 8.9 9.11 25,005,900 227,817,410 1.19 1.22 1.25 1.25 1.22 1.22 12,000 14,670 ALSONS CONS ABOITIZ POWER 25.1 25.2 25.15 25.2 25 25.2 895,800 22,509,420 0.62 0.63 0.58 0.63 0.57 0.63 49,591,000 30,067,230 BASIC ENERGY FIRST GEN 27.15 27.5 27.85 27.9 27.15 27.15 448,900 12,297,640 73.95 74.1 74.25 74.25 73.95 73.95 9,460 699,923.50 FIRST PHIL HLDG MERALCO 281 282 285 285 281 281 250,270 70,760,384 18 18.06 18.16 18.16 18 18 669,700 12,069,074 MANILA WATER PETRON 3.15 3.16 3.16 3.2 3.15 3.15 1,128,000 3,570,130 3.92 3.95 3.92 3.96 3.92 3.93 15,000 59,040 PETROENERGY PHX PETROLEUM 12.52 12.88 12.54 12.88 12.54 12.88 91,500 1,171,242 18.38 18.48 18.5 18.6 18.34 18.48 333,800 6,148,722 PILIPINAS SHELL SPC POWER 12.64 12.66 12.62 12.72 12.62 12.66 80,700 1,020,266 15.02 15.5 15.02 15.02 15.02 15.02 100 1,502 VIVANT AGRINURTURE 5.98 6.03 6.05 6.06 5.95 6.03 479,400 2,885,520 2.81 2.86 2.81 2.87 2.81 2.81 268,000 756,800 AXELUM CNTRL AZUCARERA 13.16 14.34 13.16 14.34 13 14.34 4,300 59,126 24.75 24.8 25 25.1 24.5 24.8 760,800 18,920,895 CENTURY FOOD DEL MONTE 12.8 12.82 13.04 13.2 12.52 12.82 325,700 4,182,268 8.47 8.49 8.33 8.55 8.33 8.49 5,506,300 46,699,731 DNL INDUS EMPERADOR 16.38 16.4 16.8 16.9 16.3 16.38 5,570,400 91,305,402 79.5 79.6 79.5 79.95 79.5 79.6 270,000 21,489,280.50 SMC FOODANDBEV ALLIANCE SELECT 0.65 0.66 0.66 0.66 0.66 0.66 66,000 43,560 1.17 1.18 1.18 1.2 1.17 1.18 4,688,000 5,522,720 FRUITAS HLDG GINEBRA 101.8 102 100 102.8 100 101.8 20,060 2,036,012 195 196.2 193.5 196.8 193.5 195 1,379,720 268,680,186 JOLLIBEE LIBERTY FLOUR 27.2 28.8 27.4 27.4 27.2 27.2 2,100 57,180 6.08 6.09 6.05 6.1 5.95 6.09 148,100 894,219 MAXS GROUP MG HLDG 0.217 0.22 0.218 0.23 0.214 0.23 490,000 108,900 16.72 16.76 16.8 16.88 16.54 16.76 5,795,100 97,074,870 MONDE NISSIN SHAKEYS PIZZA 7.7 7.9 7.75 7.9 7.55 7.9 53,700 415,940 0.87 0.88 0.88 0.91 0.87 0.88 1,291,000 1,138,480 ROXAS AND CO RFM CORP 4.45 4.59 4.46 4.46 4.46 4.46 6,000 26,760 0.129 0.13 0.129 0.131 0.129 0.129 3,120,000 406,040 SWIFT FOODS UNIV ROBINA 139.9 140 138 140 138 140 406,910 56,929,948 0.81 0.82 0.83 0.83 0.8 0.81 1,615,000 1,320,830 VITARICH CONCRETE A 48.45 48.8 48.5 48.8 48.5 48.8 3,000 145,790 50.2 53.7 52.7 55 52.6 53.7 2,560 135,339 CONCRETE B CEMEX HLDG 1.21 1.22 1.23 1.25 1.21 1.22 685,000 841,800 14.24 14.5 14.5 14.5 14.22 14.5 72,100 1,036,620 EAGLE CEMENT EEI CORP 8.6 8.61 8.64 8.64 8.59 8.6 759,700 6,534,074 6.85 6.86 6.65 6.86 6.61 6.85 348,600 2,378,657 HOLCIM MEGAWIDE 6.19 6.2 6.1 6.2 6.1 6.19 215,000 1,321,724 13.86 13.9 13.94 13.94 13.9 13.9 45,400 631,306 PHINMA VULCAN INDL 1.51 1.52 1.45 1.52 1.45 1.52 9,239,000 13,845,810 1.69 1.7 1.69 1.69 1.69 1.69 53,000 89,570 CROWN ASIA EUROMED 1.8 1.84 1.81 1.81 1.8 1.8 124,000 223,840 4.12 4.54 4.12 4.13 4.12 4.12 8,000 32,980 LMG CORP MABUHAY VINYL 5.18 5.37 5.17 5.37 5.17 5.37 8,100 41,897 5.41 5.45 5.4 5.44 5.4 5.44 32,100 173,452 PRYCE CORP 20.1 20.9 20.9 20.9 20.9 20.9 600 12,540 CONCEPCION GREENERGY 3.02 3.03 2.9 3.06 2.9 3.03 8,819,000 26,490,210 8.58 8.63 8.4 8.58 8.39 8.58 226,400 1,916,274 INTEGRATED MICR IONICS 0.91 0.92 0.9 0.95 0.9 0.92 234,000 217,830 5.93 6.05 5.78 6.05 5.78 5.93 6,600 39,227 PANASONIC SFA SEMICON 1.2 1.21 1.21 1.21 1.18 1.2 229,000 271,600 4.47 4.49 4.7 4.75 4.44 4.47 4,626,000 21,020,790 CIRTEK HLDG

68,792,749.00 1,469,920 -3,981,730 -1,257,640 -40,683.50 -34,264,348 8,604,880 -202,150 891,504 -1,220,210.00 -6,655,320 18,004 -21,519,995.00 -22,694,530 -8,017,996 58,500 -32,745 -6,540,907 470,690 -3,833,352 40,340 -574,170 26,000 7,460,615 -31,590 -128,610 -236,350 -250,978 164,036 1,082,150 -5,199,030 -228,684 47,500 436,790

HOLDING & FRIMS ABACORE CAPITAL 1 1.01 1 1.01 0.99 1.01 1,911,000 1,917,200 6.03 6.38 6.49 6.49 6.03 6.38 7,700 47,288 ASIABEST GROUP AYALA CORP 710 712 719 726.5 710 710 677,320 483,533,235 39.55 40.4 40.5 40.8 39.55 39.55 310,100 12,376,495 ABOITIZ EQUITY ALLIANCE GLOBAL 10.32 10.5 10.58 10.7 10.32 10.32 7,200,100 74,863,730 4.51 4.52 4.48 4.53 4.45 4.52 11,155,000 50,252,400 AYALA LAND LOG ANSCOR 6.56 6.86 6.86 6.86 6.86 6.86 2,200 15,092 0.92 0.93 0.94 0.94 0.92 0.93 735,000 678,050 ANGLO PHIL HLDG ATN HLDG A 0.57 0.58 0.57 0.58 0.56 0.58 734,000 419,440 4.96 5 5 5.06 4.96 4.96 1,946,300 9,698,522 COSCO CAPITAL DMCI HLDG 6.05 6.07 6.16 6.29 6.04 6.05 13,218,400 80,952,568 7.47 7.79 7.46 7.79 7.46 7.47 11,400 85,300 FILINVEST DEV FORUM PACIFIC 0.295 0.315 0.295 0.32 0.295 0.315 1,650,000 501,000 523.5 524 526 534 523.5 523.5 155,290 81,643,020 GT CAPITAL JG SUMMIT 63.4 63.6 62.75 63.9 60.5 63.6 2,519,000 159,178,583 6.26 6.44 6 6.46 6 6.26 169,200 1,054,678 JOLLIVILLE HLDG LODESTAR 0.65 0.66 0.63 0.65 0.63 0.65 1,011,000 641,800 3.05 3.27 3 3.05 3 3.05 1,117,000 3,376,650 LOPEZ HLDG LT GROUP 9.16 9.17 9.43 9.49 9.15 9.17 4,921,100 45,461,906 1.43 1.5 1.55 1.55 1.5 1.5 2,000 3,050 MJC INVESTMENTS METRO PAC INV 3.82 3.83 3.84 3.85 3.81 3.83 12,493,000 47,865,000 3.11 3.25 3.1 3.25 3.1 3.25 2,000 6,350 PACIFICA HLDG PRIME MEDIA 2.06 2.1 2.08 2.09 2.05 2.09 289,000 598,500 965 967.5 994.5 994.5 963.5 965 150,880 146,330,590 SM INVESTMENTS SAN MIGUEL CORP 112 112.2 111 112 110 112 338,440 37,664,212 133.1 137.9 135 138 133.1 133.1 301,850 40,177,234 TOP FRONTIER ZEUS HLDG 0.195 0.198 0.195 0.195 0.195 0.195 110,000 21,450

546,260 -144,817,580 -2,342,450 28,843,464 -597,920.00 -5,011,677 -5,128,906 -39,026,385 97,229,002 3,050 -32,862,886 -13,834,380 -20,800 -32,464,105 -3,700,214 -

PROPERTY ARTHALAND CORP 0.65 0.68 0.69 0.69 0.65 0.65 49,000 32,710 33.2 33.95 34.8 35 33.2 33.2 6,870,600 232,354,635 AYALA LAND AREIT RT 37.2 37.25 37.3 37.45 36.65 37.2 364,800 13,523,130 1.43 1.44 1.42 1.44 1.4 1.44 2,238,000 3,165,540 BELLE CORP A BROWN 0.86 0.88 0.87 0.88 0.86 0.88 543,000 467,860 0.78 0.79 0.8 0.8 0.77 0.79 271,000 210,780 CITYLAND DEVT CROWN EQUITIES 0.128 0.129 0.129 0.129 0.125 0.128 21,050,000 2,634,410 6.1 6.29 6.1 6.1 6.1 6.1 700 4,270 CEBU HLDG CEB LANDMASTERS 3.14 3.15 3.07 3.2 3.05 3.15 4,972,000 15,546,150 0.43 0.44 0.435 0.44 0.425 0.44 15,410,000 6,653,550 CENTURY PROP DOUBLEDRAGON 10.16 10.18 10.22 10.22 10.16 10.18 267,100 2,724,086 1.85 1.86 1.84 1.88 1.84 1.86 7,920,000 14,708,290 DDMP RT DM WENCESLAO 6.97 6.98 6.99 6.99 6.97 6.98 24,600 171,696 0.28 0.29 0.28 0.29 0.28 0.285 600,000 171,500 EMPIRE EAST EVER GOTESCO 0.4 0.405 0.36 0.4 0.35 0.4 114,210,000 44,431,300 7.14 7.15 7.32 7.32 7.1 7.15 10,103,700 72,400,419 FILINVEST RT FILINVEST LAND 1.1 1.11 1.11 1.11 1.1 1.11 4,897,000 5,401,760 0.88 0.9 0.89 0.9 0.87 0.9 69,000 61,320 GLOBAL ESTATE 8990 HLDG 7.4 7.44 7.44 7.44 7.4 7.4 3,900 28,920 1.3 1.31 1.32 1.34 1.29 1.31 208,000 269,540 PHIL INFRADEV KEPPEL PROP 3.24 3.72 3.77 3.77 3.77 3.77 1,000 3,770 1.34 1.36 1.27 1.38 1.26 1.36 484,000 644,450 CITY AND LAND MEGAWORLD 2.9 2.91 2.87 2.95 2.86 2.91 7,635,000 22,327,910 0.3 0.305 0.295 0.3 0.29 0.3 12,620,000 3,763,450 MRC ALLIED PHIL ESTATES 0.53 0.54 0.54 0.54 0.52 0.53 3,752,000 1,990,950 1.87 1.93 1.88 1.98 1.84 1.92 155,000 294,230 PRIMEX CORP ROBINSONS LAND 16.78 16.84 16.9 17.18 16.76 16.84 3,965,400 67,108,906 0.28 0.285 0.27 0.28 0.265 0.28 1,910,000 517,750 PHIL REALTY ROCKWELL 1.5 1.53 1.51 1.51 1.5 1.5 45,000 67,650 2.63 2.67 2.61 2.67 2.61 2.67 46,000 120,760 SHANG PROP STA LUCIA LAND 3 3.04 2.95 3.04 2.88 3.04 248,000 745,550 33.15 33.35 34.25 34.25 33.15 33.15 4,374,500 146,012,920 SM PRIME HLDG VISTAMALLS 3.73 3.81 3.73 3.81 3.73 3.81 4,000 15,080 1.57 1.58 1.53 1.6 1.53 1.58 182,000 281,720 SUNTRUST HOME VISTA LAND 3.45 3.48 3.49 3.49 3.43 3.45 654,000 2,262,450 SERVICES ABS CBN 10.9 10.94 11 11 10.9 10.9 95,100 1,039,580 13.5 13.62 13.7 13.86 13.5 13.5 1,633,900 22,349,238 GMA NETWORK MANILA BULLETIN 0.41 0.435 0.405 0.435 0.405 0.435 220,000 91,500 2,166 2,172 2,154 2,172 2,152 2,172 81,145 175,692,470 GLOBE TELECOM PLDT 1,245 1,253 1,249 1,260 1,245 1,245 91,975 114,915,885 0.134 0.135 0.117 0.136 0.117 0.135 980,120,000 124,871,140 APOLLO GLOBAL CONVERGE 30.35 30.45 29.4 30.85 29.35 30.45 18,331,800 556,718,215 3.9 3.95 3.88 4.05 3.88 3.99 222,000 868,590 DFNN INC DITO CME HLDG 7.86 7.87 7.85 8.1 7.76 7.86 6,944,600 54,945,209 2.02 2.03 2.09 2.09 2 2.02 3,269,000 6,629,140 NOW CORP TRANSPACIFIC BR 0.395 0.4 0.385 0.395 0.385 0.395 2,590,000 1,015,050 2.21 2.26 2.19 2.26 2.19 2.26 88,000 194,090 PHILWEB 2GO GROUP 8.1 8.25 8.27 8.27 8.1 8.25 5,100 41,976 13.9 14 14 14 14 14 3,800 53,200 ASIAN TERMINALS CHELSEA 2.58 2.6 2.58 2.6 2.55 2.6 198,000 512,230 44.5 44.55 44.9 44.95 44.5 44.55 248,300 11,088,530 CEBU AIR INTL CONTAINER 180 181.8 180 185.1 179.2 180 1,310,920 239,079,023 16.24 16.5 16.26 16.5 16.24 16.24 2,700 43,924 LBC EXPRESS MACROASIA 4.56 4.6 4.56 4.64 4.52 4.6 341,000 1,568,410 1.8 1.81 1.8 1.8 1.8 1.8 29,000 52,200 METROALLIANCE A HARBOR STAR 1.03 1.07 1.07 1.07 1.04 1.07 35,000 36,590 1.64 1.68 1.63 1.71 1.63 1.68 47,000 77,620 ACESITE HOTEL BOULEVARD HLDG 0.106 0.107 0.102 0.107 0.1 0.106 120,410,000 12,607,550 2.42 2.53 2.53 2.53 2.53 2.53 11,000 27,830 DISCOVERY WORLD WATERFRONT 0.52 0.53 0.52 0.53 0.51 0.52 111,000 57,330 7.01 7.45 7.45 7.46 7.45 7.46 3,000 22,378 CENTRO ESCOLAR FAR EASTERN U 550 594.5 560 560 560 560 100 56,000 7.08 7.46 7.46 7.46 7.46 7.46 3,600 26,856 IPEOPLE STI HLDG 0.34 0.35 0.345 0.345 0.34 0.34 210,000 71,700 5.36 5.5 5.65 5.65 5.21 5.5 48,700 262,529 BERJAYA BLOOMBERRY 5.93 5.95 5.9 5.97 5.9 5.93 2,966,300 17,532,627 1.97 2.06 2.02 2.02 1.96 1.97 50,000 98,890 PACIFIC ONLINE LEISURE AND RES 1.45 1.5 1.43 1.51 1.43 1.51 53,000 77,520 1.69 1.7 1.7 1.72 1.68 1.7 2,933,000 4,999,220 PH RESORTS GRP PREMIUM LEISURE 0.405 0.41 0.415 0.415 0.405 0.405 530,000 218,150 7.37 7.38 7.35 7.4 7.35 7.37 187,900 1,385,645 ALLHOME METRO RETAIL 1.3 1.31 1.3 1.3 1.29 1.3 649,000 842,120 39.75 40 40 41 39.75 39.75 741,200 29,972,225 PUREGOLD ROBINSONS RTL 50 50.7 51.4 51.9 50 50 539,370 27,192,819 85 86 86 86 84 86 13,410 1,140,520 PHIL SEVEN CORP SSI GROUP 1.1 1.11 1.11 1.12 1.09 1.11 1,342,000 1,486,740 24.15 24.25 23.9 24.45 23.55 24.15 697,100 16,796,210 WILCON DEPOT APC GROUP 0.325 0.34 0.335 0.34 0.33 0.33 3,250,000 1,081,900 5.19 5.45 5.45 5.45 5.44 5.45 5,700 31,045 EASYCALL GOLDEN MV 465.8 475.6 461 480 461 480 920 430,900 6.8 7.1 7.1 7.1 7.1 7.1 2,100 14,910 IPM HLDG PRMIERE HORIZON 1.09 1.1 1.1 1.14 1.08 1.1 14,924,000 16,567,540 4.12 4.15 4.15 4.15 4.15 4.15 7,000 29,050 SBS PHIL CORP

50,897,380.00 1,608,795.00 100,100 -802,990 81,150 -925,054.00 -4,891,680 -113,777 -136,800.00 302,600 -3,576,892 -1,791,780 3,770 124,830 -3,690,200 88,500 69,430 -9,700 11,164,398 55,500 -34,908,425 -337,740 71,983,520 -25,594,425 -279,250 105,714,220 -668,180 1,059,345 10,150.00 245,550 -357,510 -98,910,561 279,970 -312,880 3,450.00 11,920,696 10,260 1,068,231 -518,400 4,073,730 -6,219,274 -466,277 106,570 -1,363,775 -10,200 -379,200 -1,952,960 -

MINING & OIL ATOK 6.14 6.15 6.2 6.3 6.14 6.17 94,700 582,648 -40,607 APEX MINING 1.52 1.53 1.51 1.52 1.51 1.51 446,000 675,900 4,530 6.15 6.17 6.26 6.37 6.05 6.15 1,125,300 7,040,853 -23,227 ATLAS MINING BENGUET A 4.9 5.21 5.21 5.21 4.75 5.21 11,200 57,501 Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2167 0.55% 5.06% 2.22% 0.33% 5.01 5.1 5.1 5.1 5.1 5.1 2,000 10,200 BENGUET B COAL ASIA HLDG 0.29 0.3 0.29 0.29 0.29 0.29 70,000 20,300 Sun Life Prosperity GS Fund, Inc. -a 1.7504 -0.52% 4.4% 1.54% -0.26% 2.76 2.84 2.76 2.76 2.76 2.76 3,000 8,280 CENTURY PEAK Primarily invested in foreign currency securities DIZON MINES 6.03 6.2 6.2 6.2 6.08 6.08 7,100 43,305 2.29 2.31 2.29 2.34 2.28 2.31 2,714,000 6,241,670 -3,535,870 FERRONICKEL ALFM Dollar Bond Fund, Inc. -a $487.71 1.99% 3.15% 2.09% 0.79% GEOGRACE 0.28 0.285 0.285 0.285 0.285 0.285 130,000 37,050 0.139 0.14 0.138 0.14 0.136 0.14 5,150,000 706,620 LEPANTO A ALFM Euro Bond Fund, Inc. -a Є220.51 1.61% 1.04% 0.84% 0.61% LEPANTO B 0.141 0.152 0.141 0.141 0.141 0.141 50,000 7,050 0.01 0.011 0.01 0.011 0.01 0.011 5,100,000 51,300 MANILA MINING A ATRAM Total Return Dollar Bond Fund, Inc. -b $1.206 -2.62% 2.56% 1.37% -5.81% MANILA MINING B 0.01 0.011 0.011 0.011 0.011 0.011 1,000,000 11,000 0.95 0.97 0.93 0.97 0.93 0.97 175,000 166,620 MARCVENTURES 1.85% 0.78% -1.5% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0262 -1.13% NIHAO 1.23 1.25 1.24 1.29 1.21 1.25 249,000 311,140 5.53 5.57 5.52 5.64 5.5 5.53 5,108,200 28,384,641 2,712,171 NICKEL ASIA PAMI Global Bond Fund, Inc -b $1.0566 -3.13% 0.54% -1.07% -3.3% OMICO CORP 0.38 0.395 0.38 0.38 0.38 0.38 130,000 49,400 0.92 0.94 0.91 0.96 0.91 0.94 983,000 919,660 ORNTL PENINSULA Philam Dollar Bond Fund, Inc. -a $2.5331 1.02% 5.2% 1.9% -0.1% PX MINING 5.35 5.37 5.45 5.46 5.35 5.35 924,000 4,981,764 43,986 16.3 16.34 16.8 16.8 16.3 16.3 6,959,600 114,603,302 -44,747,004 SEMIRARA MINING Philequity Dollar Income Fund Inc. -a $0.063104 3.32% 3.56% 2.08% 1.26% UNITED PARAGON 0.0083 0.0085 0.0083 0.0083 0.0083 0.0083 9,000,000 74,700 Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.2065 -0.83% 3.32% 0.77% -0.53% 16 16.2 16.24 16.42 16 16.2 71,000 1,142,054 ACE ENEXOR ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.012 7,400,000 85,600 Money Market Funds 0.01 0.011 0.01 0.011 0.01 0.011 43,500,000 474,000 PHILODRILL PXP ENERGY 6.27 6.34 6.4 6.4 6.2 6.27 391,800 2,464,350 -67,578 Primarily invested in Peso securities PREFFERED ALFM Money Market Fund, Inc. -a 130.53 1.37% 2.97% 2.53% 0.55% HOUSE PREF A 100.2 101 101 101 101 101 10,000 1,010,000 43.7 43.9 43.8 44.75 43.6 43.9 110,300 4,828,065 -3,816,210 CEB PREF First Metro Save and Learn Money Market Fund, Inc. -a 1.0544 0.98% n.a. n.a. 0.6% DD PREF 100.9 102.9 100.8 100.9 100.8 100.9 2,080 209,667 101 107.3 101 101 101 101 60,000 6,060,000 MWIDE PREF 2A 2.55% 0.89% Sun Life Prosperity Money Market Fund, Inc. -a 1.3081 1.56% 2.79% PNX PREF 3B 106 106.8 106.8 106.8 106.8 106.8 20 2,136 Primarily invested in foreign currency securities 1,002 1,006 1,003 1,006 1,000 1,006 7,755 7,758,720 10,020 PNX PREF 4 PCOR PREF 3A 1,115 1,117 1,117 1,117 1,115 1,115 2,030 2,263,510 -2,230,000 Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0583 1.05% 1.61% n.a. 0.56% 1,169 1,179 1,169 1,170 1,169 1,169 870 1,017,070 PCOR PREF 3B SFI PREF 1.75 2 1.74 1.75 1.74 1.75 53,000 92,730 Feeder Funds 75.9 75.95 76.05 76.05 75.95 75.95 19,080 1,449,669.50 101,080 SMC PREF 2C SMC PREF 2E 75.85 76 76 76 76 76 160 12,160 Primarily invested in Peso securities 78.6 78.65 78.65 78.65 78.6 78.65 9,870 775,830.50 SMC PREF 2F SMC PREF 2H 76.15 76.95 76.2 76.2 76.2 76.2 200 15,240 15,240 Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.3153 28.37% n.a. n.a. 16.44% 78.05 78.85 78.85 78.85 78.85 78.85 4,180 329,593 SMC PREF 2I SMC PREF 2J 76.15 76.2 76 76.2 76 76.15 758,770 57,764,340 Primarily invested in foreign currency securities 76.5 76.8 76.85 76.85 76.85 76.85 230 17,675.50 - SMC PREF 2K ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 4.21% n.a. n.a. 1.02% PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.38 10.5 10.4 10.5 10.4 10.5 66,200 693,480 -525,000 12.2 12.32 12.3 12.32 12.2 12.2 43,800 537,974 -52,890 GMA HLDG PDR a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit WARRANTS (NAVPU). LR WARRANT 0.425 0.43 0.45 0.45 0.42 0.43 2,150,000 935,400 22,500 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 1.83 1.84 1.93 1.99 1.77 1.84 49,188,000 91,315,930 135,430 TECH WARRANT 2019. SMALL & MEDIUM ENTERPRISES 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, ALTUS PROP 18.22 18.5 18.1 18.58 18.1 18.5 15,500 286,362 36,700 2.03 2.05 2.08 2.08 2.02 2.03 302,000 614,670 ITALPINAS 2019. KEPWEALTH 4.25 4.46 4.25 4.25 4.25 4.25 3,000 12,750 3.61 3.62 3.57 3.67 3.57 3.62 4,375,000 15,859,720 -539,980 MERRYMART 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund). 7 - Launch date is July 6, 2020. "While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the EXHANGE TRADE FUNDS FIRST METRO ETF 100.1 100.2 100.8 102.1 99.4 100.2 25,060 2,518,893 123,674 newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

Philequity Peso Bond Fund, Inc. -a

3.9803

0.51%

4.54%

1.93%

-0.52%

Soldivo Bond Fund, Inc. -a

1.0377

-0.8%

4.75%

1.56%

-0.41%

www.businessmirror.com.ph

Banking&Finance

Investors troop to T-bills auction; ₧15B awarded

HE Bureau of the Treasury has once again fully awarded P15 billion in Treasury Bills (T-bills) as rates moved sideways. All tenors fetched average rates that are lower than the secondary market rates. The auction was also more than thrice oversubscribed as it attracted total tenders amounting to P50.9 billion. National Treasurer Rosalia V. De Leon expressed satisfaction with the auction results, saying they have observed good investor appetite. “[It’s] well participated and outcome expected as liquidity remains to be deployed,” De Leon said. The 91-day T-bills’ average rate inched up by 1.1 basis points to reach 1.077 percent from 1.066 percent in the previous auction. Total bids for the tenor hit P14.6 billion, nearly thrice the P5-billion offer. For the 182-day T-bills, the average rate was almost flat at 1.408 percent, down only by 0.1 basis point from 1.407 percent. Tenders for the security stood at P19.02 billion, almost four times the P5-billion offer. Meanwhile, the 364-day T-bills’ average rate slid to 1.612 percent, lower by 0.5 basis points from 1.617 percent. The debt paper attracted P17.24 billion in tenders, more than thrice the P5-billion offer.

For August, the Treasury has set to borrow P200 billion from the local debt market, slightly lower than the P235 billion it programmed in July. This year, the national government programmed to borrow a total of P3.1-trillion, of which around 75 percent is expected to be raised through domestic sources. The outstanding debt of the national government has already piled up to P11.166 trillion as of end-June this year, swelling by 23.3 percent from P9.054 trillion a year ago. This year’s ratio of debt to gross domestic product (GDP) is forecasted by finance officials to rise to 59.1 percent from 54.6 percent in 2020. It is also expected to peak next year at 60.8 percent—slightly above the internationally accepted threshold— before gradually tapering off to 60.7 percent and 59.7 percent in 2023 and 2024. Prior to the pandemic, the government notched a record-low debt-toGDP ratio of 39.6 percent in 2019. The Department of Finance is projecting that the government’s debt-to-GDP ratio will return to the pre-pandemic level by 2024 or 2025 if their recommended fiscal measures will be passed early by the next administration and if the economy quickly recovers.

BusinessMirror

Editor: Dennis D. Estopace • Tuesday, August 24, 2021

Bill cutting private school tax rate approved by lawmakers

By Jovee Marie N. dela Cruz

@joveemarie

HE hope of private school operators to get a reprieve from widening liabilities after the House of Representatives approved on third and final reading a bill defining the tax rates for proprietary schools.

Under the House Bill (HB) 9913, which was approved by 203 lawmakers last Monday, a preferential tax rate of 10 percent imposed on proprietary educational institutions will be reduced to 1 percent from July 1, 2020 to June 30, 2023. After that, the tax rate shall be set at 10 percent as provided by Republic Act (RA) 11534, otherwise known as the Corporate Recovery and Tax Incentives for Enterprises Act, or “Create” law.

HB 9913 provides that no credit or refund of taxes or penalties shall be given resulting from the availment of the reduced income tax rates under Section 27 (B) of RA 8424, or An Act Amending the National Internal Revenue Code of 1997. House Committee on Ways and Means Chairman Joey Sarte Salceda said the bill’s intent will constitute a 96-percent tax discount to private schools from 2020 to 2023 and a 60-percent tax discount thereafter.

“That is the largest ever tax cut to any sector ever in the country’s history, and I am proud that we will do it for the sector the Constitution values the most–the education sector,” Salceda, the principal author and sponsor of HB 9913, said. The bill is meant to intervene in the implementation of the recent regulation of the Bureau of Internal Revenue (BIR), increasing the tax rate of private educational institutions to 25 percent from 10 percent. The BIR has already suspended the rule. “Unless legislative action is taken, these schools can still be applied a rate of 25 percent or the regular CIT (corporate income tax) rate, from the 10 percent some of them have complied with previously, if not now, then at some future point,” Salceda said. He noted that the BIR has suspended the implementation of Revenue Regulation 5-2021, which would have increased the income tax private schools pay by defining proprietary educational institutions as private and non-profit entities.

“Although the rule was suspended, their responsibility under the law has not yet been expunged. So, we still have to address that complication. Besides, they are unable to avail of the 1-percent rate,” Salceda added. The lawmaker emphasized the need to immediately pass the bill to help private schools hire more teachers and keep existing staff through tax relief. “It will help private schools keep their teachers. They already had to fire teachers due to the pandemic. I think the whole committee agrees we should provide them relief,” Salceda said. He said applying the reduced preferential rate under the Create law until 2023 would allow schools to save an equivalent of 3.43 percent of compensation expenses, which could help them rehire 13,000 teachers at the start of the next school year. Salceda also expressed hope that the bill can be transmitted to Malacañang for the president’s signature before the year ends.

Gains from cryptocurrency- 4.5M unbanked Pinoys BSP to stakeholders: Adopt based games taxable–BIR registered at LandBank sustainable-finance tenets

This digital snapshot courtesy of the Bangko Sentral ng Pilipinas shows BSP Governor Benjamin E. Diokno (top left) with participants in the general membership meeting of the Bankers Institute of the Philippines.

HE Bangko Sentral ng Pilipinas (BSP) continues to strengthen engagement with varied stakeholders in the domestic and international fronts to intensify its campaign for the adoption of sustainable finance principles. During the recent general membership meeting of the Bankers Institute of the Philippines, BSP Governor Benjamin E. Diokno said the central bank, in partnership with the World Wildlife Fund Philippines, the World Bank and industry associations, will conduct vulnerability assessments and stress testing exercises with volunteer banks. “These exercises will enable the BSP to gather more data and information

for financial surveillance analysis and policy development on sustainable finance,” Diokno said. The campaign for the adoption of sustainability principles is in line with the BSP’s Sustainable Finance Framework issued under Circular 1085, a statement from the BSP said. “The framework safeguards the stability of the financial system against potentially significant and protracted impact of climate change and other environment related risk.” It also aims to mainstream the adoption of the sustainability agenda in the financial industry and encourages the offering of green and sustainable finance instruments.

Download only official mobile app, BDO urges

DO Unibank Inc. reminded its customers to only download the mobile banking application through official digital store platforms amid cybersecurity risks. In the advisory issued last Monday, the Sy-led bank advised against downloading mobile apps from unofficial platforms and websites. The listed bank warned these may offer outdated versions of the app, or include malicious software or malware. BDO shares fell by 0.80 percent, or 90 centavos, to close at P111 each amid the 0.63-percent drop for the main index on Monday. “Scammers use malware to gather confidential information that may be saved in mobile devices, such as online banking username and password, debit or credit card information, and other personal data,” BDO explained. For clients who are unable to

download the mobile apps, the bank encouraged them to transact via the web version instead. BDO’s mobile apps include BDO Digital Banking, BDO Pay, BDO Deals, BDO Securities Mobile App, BDO Checkout, BDO Merchant and BDO Unibank SG. In the first half, BDO saw its net earnings improve to P21.42 billion from previous year’s P4.29 billion, thanks to sustainable revenue channels and normalized provisions for bad loans. Total provisions were down to P6.8 billion in the first half, the bank noted. The gross non-performing loan ratio stood at 3.1 percent, which is below its worse-case expectations of 4-5 percent. The bank’s capitalization is at P412.7 billion, with capital adequacy ratio at 15 percent and common equity tier 1 ratio at 13.9 percent. Tyrone Jasper C. Piad

OCAL players earning from cryptocurrency-based games like the famous Axie Infinity must pay their income taxes, according to the Department of Finance (DOF). Finance Undersecretary Antonette C. Tionko told reporters the DOF and the Bureau of Internal Revenue (BIR) have already looked into the company behind Axie Infinity, which they found is a non-resident foreign corporation that is also not registered in the Philippines. Vietnam-based Sky Mavis Pte. Ltd. developed Axie Infinity. “That is one of the things that we hopefully capture once we have that system of registration for non-residents, those types of companies. It’s not in the Philippines, that company. But certainly whoever earns currency from it, it’s income; you should report it,” Tionko told reporters. In the play-to-earn game Axie Infinity, players can earn cryptocurrency token “Smooth Love Potion,” which can be sold in exchange for cash. In its website, it said the game has attracted many players from developing countries as it provides a new income stream during the Covid-19 pandemic. While Tionko admitted that the Securities and Exchange Commission and the Bangko Sentral ng Pilipinas have yet to look deeper into the characterization

of the cryptocurrency on whether it is a security or a currency, Tionko clarified that it is taxable. “Cryptocurrency is an asset, so it’s already taxable in the Philippines. Now, what kind of tax applies? Well, certainly, the gains are subject to income tax,” she said. Apart from income tax, BIR Deputy Commissioner Arnel SD. Guballa told the BusinessMirror that earnings from cryptocurrency-based games are also subject to value-added tax (VAT). Under Republic Act 10963, or the Tax Reform for Acceleration and Inclusion (Train) law, those with annual taxable income that does not exceed P250,000 are exempted from paying personal income tax. Moreover, the Train law also provided that gross annual sales and/or receipts earned from the sale or lease of goods or properties or the performance of services not exceeding P3 million are also exempted from VAT. However, Guballa said he personally believes that the P250,000 threshold on imposing income taxes on gaming revenues should be removed. However, he admitted this move requires passing a law. “I believe that [threshold] should be reviewed,” Guballa told the BusinessMirror. “Gaming revenues should be taxable without threshold.” Bernadette D. Nicolas

By Bernadette D. Nicolas @BNicolasBM

TATE-owned Land Bank of the Philippines (LandBank) announced it has “onboarded” nearly 4.5 million unbanked national ID registrants as of end-June. LandBank reported there were 4,468,249 new accounts that were registered as of June 30, accounting for 47 percent of the 9,484,696 individuals who had already registered in the Philippine Identification System (PhilSys) from 884 sites in 32 provinces. Of the total “onboarded” applicants, 1,225,675 individuals have already received their LandBank “agent banking cards,” which can be used for various transactions, the bank said. These cards are provided free of charge and with no initial deposit requirement to PhilSys applicants in areas where the LandBank has co-located with the Philippine Statistics Authority in PhilSys registration sites across the country. The bank said these cards can be used by Philsys-ID holders to withdraw cash at ATMs and point-of-sale cash-out terminals, shop online and perform other cashless transactions, as well as receive any government subsidy digitally. The card is also contactless-

Investing like a basketball legend

NVESTING is a journey. It is not about getting rich quick but having discipline, patience, strategies and a combination of ideas, analysis and data. As we always teach to our countrymen, there’s no single investment approach that works for everyone. If we will illustrate it through a basketball league, I think it will be a good practical example. Nowadays, there are a lot of platforms that we can invest in because of the growth in technology. Just to enumerate some of it, stock market, crypto currency, online gaming platforms, real estate, business and many more. Oftentimes we can be swayed by the trend, hype or even stories of other people’s successes but end up being frustrated whenever there are unforeseen events such as the pandemic, investment risk fluctuations, unmet expectation and wrong information. If you’re playing or interested about basketball, let’s take a look at investing as a basketball league. The levels of leagues vary depending if you’re in a community, municipality, city or nationwide game. If you are just starting to play basketball, you need to learn the basics. Dribbling, passing, rules, shooting, team work, exercise, coaching and many more. Winning is just a by-product of the hard work behind the scenes.

Karlo Biglang-Awa

personal finance If we will relate this to financial planning on a generate note, we cannot expect overnight results to match all our financial goals right? Yes there will be winning games, but there will also be challenges along the way, sometimes our analysis is right, sometimes it might not turned out to good results. This is the reason why one of the investments that we should take first is investing in ourselves through knowledge, seeking mentors, coaches who are experienced in a particular platform to guide us. The question for us to answer is this, do I know the basics already so I can advance in my journey? We can compare dribbling, passing and shooting to budgeting, savings, and insurance. Afterwards we can now proceed to investing. This time we can go to the next level of financial planning league. May it be through stock market, real estate or crypto currencies? Make sure that you understand first the rules and regulations because there are also inherent risks involve in investing.

Just like what happened to the Milwaukee Bucks, before becoming the 2021 NBA Champion, it took them a lot of challenges, hard work, sacrifices, team work and, most of all, prayers. In investing, we cannot take control of everything, this is the reason why setting parameters is important. Here are some of the aspects that you should consider in investing: 1. Invest in a platform that you understand. This season, a lot of financial platforms may it be digital or traditional one entered the market. We have the stock market, crypt currencies, online gaming platforms, forex, mutual funds and many more. We always remind our countrymen to make sure to invest in a platform that suites your goals and skills. Not all investment platforms are suited to all of us. 2. Know your goals. Having goals in mind will allow us to tailor fir the financial solutions to our problems. Someone who’s investing in the long term will have a different platform for someone investing in the short term. Since the timeline vary, you should know also the right platform where you can place your money; may it be a conservative, moderate or aggressive investment. 3. Diversify your investments. Once you have identified the plat-

enabled, which means it can be used for “tap” payments, such as for the automated fare collection system that the government plans to roll out for public utility vehicles. According to the state lending institution, a total of 4,338 Philsys registrants made 8,099 transactions over-the-counter (through LandBank branches), or through mobile banking apps, point of sale and online. Majority of the transactions were conducted in the Visayas as well as in Central Luzon. LandBank added that facilitating the opening of bank accounts for PhilSys registrants will help ensure the speedy and efficient delivery of future government assistance programs to unbanked beneficiaries. As for the other digital transformation initiatives, LandBank reported that since November 2018 up to endJune this year, a total of 1,671,470 accounts were opened through the bank’s “digital onboarding system,” which includes accounts opened for clients of the Overseas Filipino Bank. The latter is a LandBank subsidiary and is the first digital-only bank in the country. For the month of June this year, accounts opened reached 68,863, higher than the 67,889 accounts opened in the previous month. With reports from Manuel T. Cayon

forms that suites your needs, you need to allocate your resources in different basket to avoid too much exposure in risks. Since there’s no perfect investment, diversification can help us maximize returns and minimize losses. Consult a professional first to have a guided decision and decide based on your verified conclusion. Try to ask yourself these questions: 1. Can I afford to lose this amount of money in case my plan didn’t work out? Investing may not be always beneficial for us depending on the season of the economy. Like at this season, knowing the cycle of the market will give us a wider perspective if we should place investments or not. Always invest an amount that you are comfortable with which will not affect your day-to-day needs. 2. Why am I investing in the first place? Establishing your deep “why” will give you motivation, during tough times or it will allow you to be consistent even in breakthroughs too. Since there’s clarity of goals, you can press on and have a guiding path towards a better future.

Karlo Biglang-awa is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 91st RFP program this August 2021. To inquire, e-mail info@ rfp.ph or text at 0917-6248110.

Tuesday, August 24, 2021 • Editor: Gerard S. Ramos

Art

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‘Lost Leonardo’ unpeels the mysteries of the ‘Salvator Mundi’ THE cleaned version of the Salvator Mundi as a crack is restored in a scene from the documentary The Lost Leonardo. AP

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Rupert Grint, 33; John Green, 44; Dave Chappelle, 48; Steve Guttenburg, 63. Happy Birthday: Take the initiative to make things happen. Dream big and explore what’s possible. Question shortcuts, and be prepared to implement last-minute changes that will save you time and money. Focus on building a strong foundation for what’s to come. Don’t back down when patience and expertise are gateways to success. Believe in your ability to finish what you start. Your numbers are 9, 16, 24, 26, 32, 38, 44.

By Jake Coyle The Associated Press

EW YORK—We’re accustomed to movies—usually adventures, like Indiana Jones—with lines that traverse the globe and pinball between global capitals, showing us where our characters are traveling. The Lost Leonardo, a documentary about the rediscovery of a Leonardo da Vinci painting, begins with such a line. But its international stops, chronicling the painting’s sales, are baffling leaps.

ARIES (March 21-April 19): Self-improvement projects will pay off. Focus on fitness, emotional and physical strength, and what you can do to enjoy life. Consider your relationships with others and the benefits and liabilities you face, then make the necessary adjustments. Romance is encouraged. HHH

New Orleans, 2005. $1,175. London and Geneva, 2013. $83 million, then $127 million. Saudi Arabia, 2017. $450 million. Such is the winding journey of the Salvator Mundi, a painting of Jesus Christ attributed to Leonardo da Vinci that has been enveloped in mystery and intrigue ever since it was first acquired, restored and celebrated as a lost original of the Renaissance master. The Lost Leonardo, which Sony Pictures Classics releases in theaters Friday, engrossingly frames the unlikely saga like an international thriller as opaque as any John Le Carré novel. To its director, the Danish filmmaker Andreas Koefoed, it’s also a kind of dark fairy tale, complete with a prince and a lost treasure. Above all, perhaps, it’s a portrait of an art world where masterworks can serve as global capital. “You have this romantic idea of art as something pure and a beautiful expression of human beings through history, and then it meets this very cynical, capitalistic world,” says Koefoed, speaking by Zoom from Copenhagen. “It’s an explosive cocktail together.” The painting in 2017 obliterated art-sale records. But it was first acquired, like a far-fetched episode of Antiques Roadshow, at a Louisiana estate sale. While browsing, a pair of New York art dealers believed it worth buying to get a better look. They brought it to one of the field’s top conservators, Dianne Dwyer Modestini, who carefully removed the heavy overpainting that coated it and mended other mistreatments from the intervening centuries. Gradually she and others began to think the painting wasn’t the work of a Leonardo pupil, as once suspected, but of the master, himself. Modestini’s bond with the painting was especially strong. She worked on it for three years following the death of her husband, Italian conservator and art buyer Mario Modestini. “It’s not just a painting. It’s more than that,” Modestini says, speaking by phone from her New York apartment. “It’s an object infused with power. That sounds a little weird and corny but I believe that. When I was working on it, I had this experience of feeling my husband was right by my side the whole time. And I couldn’t have done it without him.” Many art historians and institutions—like London’s National Gallery, which exhibited the painting in 2011—have arrived at the same attribution. (Modestini created a web site with technical details on her findings.) But not everyone agree with her conclusions. In the film, art critic Kenny Schachter jokes that it’s a “contemporary painting” for how heavily it was restored. The art critic Jerry Saltz calls it “no more real than any of the dreamed-up scams and schemes by people that may not mean to be flim-flamming, but in the end, they all went along for the ride.” In Lost Leonardo, it’s a ride through an art world peopled by colorful characters and eccentric billionaires. The painting was first sold to Swiss businessman Yves Bouvier, who expanded the use of freeports as tax-free stations for high-priced

Today’s Horoscope

TAURUS (April 20-May 20): Make the changes that suit your needs. Don’t sit on the sidelines waiting for someone else to make the first move. Use your intelligence, and turn your ideas into something concrete. Keep life simple, be direct and finish what you start. HHH

GEMINI (May 21-June 20): Digest what’s going on around you and decide who is on your team and who opposes you. It’s OK to think big, but you are better off living within your means. Discipline and hard work will bring the best results. HH

CANCER (June 21-July 22): Spend more time finding unique ways to up your game or make your surroundings less stressful. Be creative, and consider changes that won’t break your budget. Call on someone with experience, and you’ll be offered insight into how to cut corners. HHHHH

LEO (July 23-Aug. 22): Uncertainty is a warning that you aren’t satisfied with a proposition or situation. Rethink your steps, and consider the pros and cons. Be resourceful and check out other opportunities that may be a steppingstone to something new and exciting. HHH

VIRGO (Aug. 23-Sept. 22): Interact with experts. Gather information, formulate a strategy and take on something that will help you achieve your dreams. Speak up, share your intentions and move forward with enthusiasm and confidence. Embrace change, and exciting opportunities will follow. HHH

LIBRA (Sept. 23-Oct. 22): Play to win, figure out what you want and negotiate with finesse. Do whatever it takes to stabilize your personal life. Make your space inviting and convenient. Rethink your spending habits, and be generous with love and affection, not expensive gifts. HHH

goods, like artwork. He paid $83 million but he was really acting on behalf of Russian oligarch Dmitry Rybolovlev, whom Bouvier immediately flipped it to for $127.5 million. (A high-profile lawsuit resulted when Rybolovlev learned of Bouvier’s negotiating tactics.) In the art market as seen in Lost Leonardo, it’s seldom clear who’s buying and who’s selling. One person calls it the most unregulated market after drugs and prostitution. Even once the Salvator Mundi was auctioned by Christie’s, the winning bidder of $450 million was unknown. Only later did reports leak out that the ruler of Saudi Arabia, Crown Prince Mohammed bin Salman, was behind the purchase. The Salvator Mundi was later expected to be shown at the Louvre, but was ultimately absent from a major exhibition reportedly due to the museum’s refusal to exhibit it, as Mohammed requested, alongside the Mona Lisa. Since 2017, the painting hasn’t been seen publicly. “It proves a point of the story that the truth is somehow lost in all this,” says Koefoed. “There’s so much at stake, so many power interests, so many money interests that the truth disappears. Not only do we have a lost painting, we also have lost the truth somehow.” Koefoed, a veteran documentary filmmaker, has no fine arts background and was only drawn into the story of the Salvator Mundi after its headline-making auction. He and cinematographer Adam Jandrup shot

many of the subjects head-on, as if they’re sitting for a portrait, and lit them a little like a Renaissance painting. The movie refuses to take sides in the still simmering disputes over the Salvator Mundi. “I decided to remain open to both possibilities,” says Koefoed. “I think it’s more interesting to let the viewer become their own detective in the story.” The National Gallery, the Louvre and Christie’s declined to participate. But of the many players that did none has a role like Modestini. Her experience with the painting and its contested reputation is rendered intimately. She has only praise for Koefoed and his film, but debates over the Salvator Mundi Modestini no longer has energy for. “I don’t really care. I know what I know about the painting and it seems to me a no-brainer to me, the attribution. If people have other ideas, that’s fine. But I really would like to get on with my life. It’s been so consumed by this. I will never make another film,” Modestini says. “This is it for me.” The painting, though, still looms large in her mind. Its power, she says, is only really conveyed in person. The effect can’t be photographed. It can’t be reproduced. “It just emanates this extraordinary sense of something totally beyond human understanding,” Modestini says. “It’s a tragedy that it was so abused,” she adds, before reflecting on it being out of sight. “It’s a continuing tragedy.” n

SCORPIO (Oct. 23-Nov. 21): Do something eccentric, adventuresome or creative. Become the topic of conversation and the go-to person when others need advice. Explore new possibilities, and stretch your mind to accommodate new options. Use your skills distinctively, and you’ll influence future trends. HHHHH

SAGITTARIUS (Nov. 22-Dec. 21): Don’t lose sight of your objective. Be suspicious of anyone trying to take over. Information will be sketchy and require verification before you pass it along. Spend more time on personal improvements and less on trying to change others. Love yourself. HH

CAPRICORN (Dec. 22-Jan. 19): Take advantage of a moneymaking opportunity. A financial gain is apparent. The experience you have will help you instinctively know when to make your move. A positive change at home or with your assets is within reach. Monitor physical indulgence carefully. HH

AQUARIUS (Jan. 20-Feb. 18): Be secretive about financial, medical or contractual dealings. Pay more attention to the way you look and present yourself to others. Set trends instead of adopting what others are doing. Romance is on the rise. Make a promise to someone you love. HHHH

PISCES (Feb. 19-March 20): You’ll gain respect if you follow through with your plans. Find a way to manage money efficiently, and it will loosen up cash flow and encourage you to invest more in your future. HHH Birthday Baby: You are aggressive, intuitive and wise. You are resourceful and practical.

‘twice the fun’ by alex eaton-salners The Universal Crossword/Edited by David Steinberg

ACROSS 1 Puts one and one together, say 5 Handbag monogram 8 Cliff notes? 13 (I touched your nose!) 14 Shop selling salami 15 Soft palate projection 16 Wrestling popular in Tokyo 17 “Everything’s fine!” 18 Bread crumbs used for tempura 19 They relate well to others 22 Spanish custard 23 Family Guy matriarch 24 Cut, as grass 27 Employ 29 Boardroom VIP 32 “I want to see!” 34 Prez before Jack 35 Cobra curl 36 With 38-Across, snitches 37 Size above med. 38 See 36-Across 39 Sitter’s bane 40 Triumphant cry 41 Photo often snapped at arm’s length

42 Bottle alternative 43 Lab report writer? 45 Hither’s partner 46 Cut, as costs 47 Director Ephron 49 What Kevin Love achieved in 53 consecutive NBA games, or a theme hint 53 One may have attachments 55 Touch a side of 56 “Carpe diem” acronym 58 Pop, as a balloon 59 Covers with black goo 60 Shout after the pound of a gavel 61 Collections of bits 62 Hurricane’s center 63 Drove lickety-split DOWN 1 Muscles below the ribs 2 Arrange, as hair 3 Rounded roof 4 Spaceballs, for Star Wars 5 Sana’a citizen 6 Sty food 7 Have a crush on, informally

8 Affluent ‘80s city dweller 9 Flattened circles 10 Mound in the Sahara 11 Animal with antlers 12 Southeast Asian language 14 What pupils may do during an exam? 20 Prunes, once 21 Flow like molasses 24 The ReidOut channel 25 Catherine of Schitt’s Creek 26 “I’m Every ___” (Chaka Khan hit) 28 Hardly heavy 29 Like pj’s 30 “Old MacDonald” letters 31 Elizabeth of Wandavision 33 Just out of the jacuzzi 35 Stanford’s rival, for short 37 Airing in the wee hours 38 India’s first prime minister 40 Parsley, sage, rosemary or thyme 41 Gets a move on 43 Bank heist targets 44 Stick it out 46 Personal grace

48 Bottomless pit 49 It’s thrown at a board 50 PayPal’s parent company, once 51 Circular Blue Angels stunt 52 Palindromic fashion magazine 53 Gradually decline 54 “___ bien, gracias!” 57 Like 2021, but not 2022

Solution to today’s puzzle:

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GMA entertainment site surges Media giant GMA continues to deliver news and entertainment beyond free TV as its GMA Entertainment web site posted an impressive traffic growth performance last July. Surpassing its numbers month after month, July was the site’s best performing period thus far as it registered a 49-percent increase in page views and 24 percent in user growth. Since the start of 2021, the site’s page views have shown a surge of 138 percent from January. The significant numbers driven by the entertainment web site for the said month greatly impacted the performance of the GMA Network portal (www.gmanetwork.com), which likewise posted its highest traffic performance. The portal, which consists of the GMA Entertainment site along with GMA News Online, delivered a record-breaking total of 291 million page views in July. First Yaya, GMA’s top-rating prime-time series which recently concluded its run, remained as the web site’s most popular show in terms of video views for the reported month in the Full Episodes site. In terms of popularity, First Yaya was followed by Ang Dalawang Ikaw, The World Between Us, Endless Love and Legal Wives. In addition to the latest news and updates that can be seen on GMA Entertainment, netizens can also catch up on currently airing and past GMA shows via the full episodes site and on the GMA Network mobile app.

Disgraced K-pop star Seungri

K-pop star sentenced to 3 years in prostitution case

SEOUL, South Korea—A South Korean military court sentenced disgraced K-pop star Seungri to three years in prison on Thursday for crimes including providing prostitutes to foreign businessmen. The Defense Ministry said the former member of the boy band Big Bang was also fined 1.15 billion won ($989,000). He was taken into custody after the ruling by an army court in Yongin, near Seoul. Seungri, whose real name is Lee Seung-hyun, was indicted in January 2020 on multiple charges, including arranging illegal sexual services for business investors from Taiwan, Japan and Hong Kong from 2015 to 2016. He was also convicted of embezzling funds from a Seoul nightclub he ran and violating laws prohibiting overseas gambling by betting heavily at foreign casinos from 2013 to 2017. He denied most of the charges. His case was transferred to a military court after he enlisted in the army in March last year for 21 months of military service, a requirement for most able-bodied men in South Korea because of the threat from rival North Korea. Yonhap news agency reported that Seungri appeared in court in a combat uniform and shook his head repeatedly as the judge announced the verdict. Before his fall from grace, Seungri was one of the biggest stars in K-pop because of the success of Big Bang, which attracted huge followings in Asia and other parts of the world after its debut in 2006. Forbes magazine reported in 2016 that the group had made $44 million in pretax earnings the previous year. Seungri left the group in 2019 after the media reported the prostitution accusations. His case is one of several scandals that have roiled South Korea’s entertainment industry in recent years. In 2019, singer Jung Joon-young received a six-year prison term and former boy band member Choi Jong-hoon a five-year term after they were found guilty of illicit sexual relations with a woman who was unable to resist. AP

Editor: Gerard S. Ramos

• Tuesday, August 24, 2021

I love Lucy LUCY TORRESGOMEZ

HAVE known Lucy Torres-Gomez for a quarter of a century now, and she has remained ladylike in her dealings, lavish in kindness, laudable in both her many passions and public service, large in generosity, and lackadaisical in anything that fosters negativity. Lucy is on her final term as the representative of Ormoc province at the Congress, and she has not made any decision yet as to what post she intends to target in next year’s elections. “I am still weighing my options. Everything is still fluid at this point. While I am keeping my options open in terms of running for higher office, I have yet to decide if I should do that or stay in Ormoc and serve my hometown. There are many factors I must consider before I make a decision. Over and above that, we all have this pandemic to fight. My focus and priority now is Covid response and how to cope with it as a province, as a people, as a nation. We are all fighting the same battle, and I guess it is but right that we should all look out for each other.” There are reports that she has already been included in the senatorial wish list of some political parties. “Well, I am glad somebody wants to include me in their slate. I am thankful as it is a blessing, an added value. We should listen to anybody offering their services to the people as to what they exactly have in mind in terms of what they can offer and give. But there are no formal talks with any of them, and I have not really decided yet,” she said. However, Lucy confirmed that husband Richard will be running for a seat in Congress. In their years as public servants, the celebrity couple has managed to balance their time really well as a couple, as parents to their only daughter Juliana, and as politicians to the respective territories that they serve. “Marriage is just like a dance,” she shared, adding, “When you know your spouse well, you know what moves to make and what the next steps should be. Be sensitive to what your spouse needs. There was this period when we spent a lot of time away from each other because Richard was based in Ormoc and I was based in Manila to attend to Congress. But now, we’ve stayed put in Ormoc since the virus surge and it’s a time we cherish the most as a couple.” She was quick to add: “Not every day is good, and there are days when we are stressed, but just know when to stay quiet and give each other space.”

Lucy recounted those two weeks when her husband contracted the dreaded virus. “When someone gets it, the whole family is affected, and it’s both a mental and a physical battle. That’s why we have to guard our emotional health, too. The tendency is to panic but each Covid case is an individual journey, so you just listen to your own doctor and stop reading about other cases as these are not your case. I’m just thankful my husband is very energetic and it happened at the same time of the Olympics because otherwise, he would not have stayed put. The Games distracted him so he was able to rest and just watch his preferred sports. I always reminded him to conserve his energy for faster healing.” At 46 and looking as fabulous as the day I met her, Lucy paused for a few seconds when asked about her beauty secrets. “I guess there’s none, really. I am mindful of what I eat, and it was not long ago when I transitioned to a more healthy way of eating. I eat a lot of fresh food,

especially fruits. I eat whatever is in season.” She also said she has never tried anything invasive to enhance her looks. “My game plan is pahabaan na lang ng shelf life by natural means. I exercise, I do yoga, and I am more into the zen spectrum of things. I also spend time on arts and crafts as these help me become less agitated. I also like reading, but not heavy stuff. I value my personal quiet time to recharge.” Being in Congress has changed her in many positive ways, and strengthened her core to serve and make a difference in the lives of those she serves. Being at home in Ormoc has taught her many priceless lessons about simplicity, the joys of minimalism, the power of love, and the strength of family. Her constituents in Ormoc respect her. Her colleagues in politics hold her in high esteem. Her family, friends and followers adore her. And I more than appreciate her—I love Lucy. n

Hong Kong quarantine exemption for Nicole Kidman draws flak HONG KONG—Hong Kong’s granting of a quarantine exemption to Hollywood star Nicole Kidman is drawing criticism from lawmakers as the city tightens entry restrictions for international travelers to control the coronavirus. Kidman, who reportedly flew to Hong Kong last week from coronavirus-hit Sydney, was exempted from a weeklong quarantine and was spotted in the city this week filming a new Amazon Prime Video series, titled Expats, according to local media reports. The government said in a statement on Thursday that it had granted the exemption “for the purpose of performing designated professional work.” It said the work was “conducive to maintaining the necessary operation and development of Hong Kong’s

economy.” Some Hong Kong lawmakers criticized the decision. “Nicole Kidman’s exemption case is not just about politics, it involves the health security issue and is a matter of unfairness,” said lawmaker Priscilla Leung. Leung said she herself was not exempted from quarantine when a family member was infected with the coronavirus. Kidman’s exemption sets a precedent for other celebrities in the future, said lawmaker Michael Tien. “[Even] our athletes who came back from the Tokyo Olympics were required to have seven days of quarantine,” he said. Kidman’s exemption comes as the Hong Kong government has tightened entry requirements for travelers, adding 15 countries including the US to the

high-risk category and requiring vaccinated travelers from medium-risk countries to spend 14 days in quarantine effective Friday. Previously, those traveling from medium-risk countries could quarantine for just seven days in a designated hotel if they had a valid vaccination record and a positive Covid-19 antibodies test. Authorities say Kidman is obliged to comply with virus rules in Hong Kong, and is required to submit an itinerary and travel in a private vehicle to avoid contact with the public. “With this exemption, it doesn’t mean that she can go anywhere she wants,” Edward Yau, Hong Kong’s secretary for commerce and economic development, said on Friday. AP

Civic-minded Christine Escalante eyeing to be 2021 Mrs. Universe Philippines Manila By Leony Garcia A dedicated young mom, Christine Escalante is more than grateful to Manila City Mayor Isko Moreno, who early on strongly endorsed and supported her candidacy to be the 2021 Mrs. Universe Philippines Manila. She has partnered with the pro-active public servant in undertaking several charitable socio-civic projects for the city’s constituents. Christine’s platform, among others, is to promote the country’s tourism industry believing it can bring in more potential investors to provide more jobs, alleviate poverty, and promote peace and order. This should also boost Manila that she is representing locally and overseas as a first-rate tourist destination. During the screening for the competition, she shared her philosophy both as an established business woman and an empowered lady, saying: “Money in large measure can impress the passive and stereotyped ladies-in-waiting. But when a woman works hard, a man with the money is like a bonus, not

a ladder to economic mobility, self-actualization, and independence. Cheers to all hardworking women out there.” She will vie for the coveted national title of Mrs. Universe Philippines along with other contestants from all over the Philippines. The pageant will be held at Okada Manila in September. If she wins, Christine will represent the country in the Mrs. Universe International pageant, to be held in Seoul, Korea, this year, according to Maria Charo Calalo, National Director of the local Mrs. Universe Philippines franchise. An advocate of human development, Christine heads the League of Empowered Women (LEW) and is the vice presisent of Wanita Filipina. These organizations are at the forefront of uplifting the social and economic conditions of marginalized women in the country. Christine is also officially designated Lady Queen of World-Class Excellence Awards (WCEA), an international organization of like-minded professionals advocating charitable and sustainable

projects for the disenfranchised. On the side she is a part-time commercial model and has been through some acting workshops under ABS-CBN, and Balintataw Film and Theater Arts handled by Sydney-based tutor Mars D. Cavestany, PhD, and director George Vail Kabristante. This in preparation for her debut film on the biopic of Macario Sakay with Robin Padilla as her leading man to be directed by William G. Mayo, president of the Kapisanan ng mga Direktor Ng Pelikulang Pilipino (KDPP). Christine also cohosts a lifestyle and entertainment show on TV31 with the secretary of KDPP director Erwena Arguelles. Recently, she won the title Best in Modern Filipiñana at a WCEA event. Her winning gown was created by her official designer-stylist Lanny Liwag. She was backed by her own team of trainers and pageant coaches headed by Darwin Buenviaje. If fortunate enough to win as Mrs. Universe International, Christine will be the first-ever to bring home the title under the Duterte administration.

CHRISTINE ESCALANTE

B6 Tuesday, August 24, 2021

Lucio Co-led The Keepers Holdings income up 56.8% in H1 2021

MPIC and MVP Group bolster PH government vaccination initiatives

ETRO Pacific Investments Corporation (MPIC) and PLDT are set to distribute 50,000 AstraZeneca COVID vaccines for five local government units in Metro Manila and Mindanao, to augment the ongoing vaccination efforts of the government. With the assistance of Zuellig Pharma and four Metro Pacific Hospitals, the two batches of vaccines shared with PLDTSmart Foundation are allocated for the Malabon, Navotas, Davao, Bacolod, and General Santos LGUs. As a leading infrastructure holding company committed towards nationbuilding, MPIC aims to help the country further reopen its economy and continue to move forward amid the pandemic. Pushing towards this, the group has pledged alongside other private sector companies to pay for vaccine doses, dispensed equally between supplementing the government’s supply and covering the employees in the private sector. In November 27 of last year, over 30 business leaders inked a deal with the Philippine government for 2.6 million doses of AstraZeneca's COVID-19 vaccine. MPIC Chairman Manuel V. Pangilinan signed on behalf of the conglomerate, with the deal supplementing the government’s endeavors to secure supplies to inoculate around two-thirds of the population. The 50,000 vaccine doses from the MVP group will be sufficient for 25,000 individuals for their first and second doses. Last August 17, General Santos received the first batch of 2,500 doses as one of the first local government units to receive the vaccines. St. Elizabeth Hospital, a Metro Pacific Hospital and MVP Group Company, will administer the inoculation program in support of GenSan’s local vaccination initiative.

Davao vaccine turnover

NEXT, the Davao LGU, represented by Davao City Mayor Sara Duterte, received its first 5,000 doses from MPIC and PLDT, represented by Chairman Pangilinan, to be inoculated through the Davao Doctors Hospital. “We know that our local executives

have been very busy 24/7 and remain at the frontlines as the COVID-19 pandemic continues to endanger lives, especially with new variants arising. While your City Government has admirably responded to the needs of the people, we understand that the situation calls for “all-hands-on deck”,” said Chairman Pangilinan. “We join you in our common goal to attain herd immunity as soon as possible. We pray that the pandemic may end soon, but while we might still have a long way to go before we can truly revert to normal, be assured of our support to make the way less painful for our countrymen.” In receiving the vaccines, Mayor Sara thanked Chairman MVP and the officials of MPIC and PLDT-Smart Foundation for their support in the COVID-19 vaccination in Davao City. “With the invaluable support of the private sector in efforts to inoculate more Davaoeños, we are hopeful that we may see a reduction in the number of our confirmed cases and look forward to attaining herd immunity in Davao City and the entire Davao region,” added Mayor Sara. “The various Foundations under the MVP Group are relentless in filling the gaps and reaching out to help the country, so that soon we can reopen its economy and continue to move forward amidst the pandemic” says MPIF President Melody del Rosario. “On our part, we hope that through our humble vaccine support, we are enabling more Davaoeños to brave the circumstances of the new normal.” Present during the turnover were Davao City City Health Office OIC Dr. Ashley Lopez, Davao City City Administrator Atty. Juleika Lopez, Davao Doctors Hospital President and CEO Celso Bernard Lopez, Metro Pacific

Investments Foundation President Melody del Rosario, PLDT-Smart Foundation President Esther Santos, PLDT Chief People Officer Gina Ordonez, PLDT Senior Vice President and Chief Procurement Officer Os dela Paz, PLDT First Vice President and Group Head for Corporate Communications Cathy Yang, and PLDT Vice President for People Operations and Enablement JM Co, and PLDT Assistant Vice President and Head Mindanao Corporate Relationship Management Benbrackie Melasa, among other attendees from the MVP group, Davao Doctors Hospital, and Davao LGU. THE turnover to the Bacolod LGU is tentatively scheduled for the 23rd of August and will be delivered through Riverside Hospital, another institution under Metro Pacific Hospital Holdings Inc. (MPHHI). Doses allocated for Malabon and Navotas, as well as doses to be administered by Makati Medical Center, will be distributed in the weeks to come. The second batch of 50,000 AstraZeneca doses are expected to arrive in January or February for beneficiaries that the group has yet to identify. MPIC envisions to continuously supplement the government’s COVID-19 efforts and now aims to significantly contribute towards successfully achieving herd immunity in the country. MPIC’s support for the government’s vaccination initiatives is aligned with its commitment to contribute to the United Nations Sustainability Development Goals (SDGs), particularly SDG#3 Good Health & Well-Being, which focuses on ensuring healthy lives and promote wellbeing for all, at all ages.

be handled by safe, healthy people. And the more we move towards achieving microherd immunity within our organization, we know we’re one step closer to accomplishing our goals,” said LBC’s Chief People Officer Jhayner Bufi. LBC’s total commitment to see its vaccine program succeed followed a well-thought-out process that employed three steps: Education, Encouragement and Engagement. LBC’s first order of business was to visit the earliest vaccination sites in Metro Manila and observe and even experience each step of the vaccine process. Through this, they

were able to fine-tune their internal vaccine program to make it less tedious and confusing. Equipped with the proper knowledge, LBC started tapping officers to disseminate relevant information to all their teams in huddles and meetings. According, they engaged the company’s managers to be the spokespersons given their sphere of influence to their employees. LBC educated its managers about available vaccines, and tried to dispel all misunderstandings and fears about getting jabbed. It was also intended to convince managers to get vaccinated as well to become role models. We conducted nationwide townhalls explaining how vaccines were made; the cost they have to bear when they get hospitalized; etc. A lot of focus was given on factual data on the efficacy of vaccines, highlighting that all vaccine brands will prevent them from getting severe symptoms”. To make the sign-ups easy, an in-house registration e-link was also established. NCR-based registrants were directed to proceed to LBC’s Mega Vaccine Center in their cargo exchange while jabs of provincial-based workers were done via hospital service providers. Throughout these vaccination activities, rapid antibody and antigen testing among LBC employees continued without fail. LBC’s vaccine program is not just for their employees and their families- but is their way to help the country get back on its feet.

growth in the first half of 2021. The brandy segment now accounts for 78.1% of the group’s total sales by volume. The Company owns three major players in the Philippine liquor, wine and specialty beverage distribution segments, namely, Montosco, Inc., Meritus Prime Distributions, Inc. and Premier Wines and Spirits, Inc., which it acquired through the share swap transaction. In June this year, the Company increased its authorized capital to P2 billion, divided into 20 billion common shares at a par value of P0.10 per share and issued 11.25 billion common shares in exchange for Cosco Capital’s 100% equity interest in the liquor subsidiaries. “The Keepers Holdings, Inc. is now the largest distributor of imported spirits in the Philippines holding 74% volume market share,” according to Santamarina. The Company is the distributor of leading brands such as Alfonso, Johnnie Walker, Jose Cuervo, Jim Beam and Jinro.

PH Resorts successfully conducts top-up placement

Vaccine turnover to other LGUs

Logistics company pushes vaccination program ITH this shift to online, logistics companies have become even more crucial in the supply chain during the pandemic. As one of the industries whose employees are most exposed, LBC steps up its vaccination drive after more than 90 percent of its employees expressed their desire to get vaccinated. LBC is eyeing no less than 100% inoculation of its workforce here and around the world, and has committed to shoulder free vaccines for all their employees and their household dependents. “The way LBC has been servicing and moving commerce around, we'd like it to

UCIO Co-led The Keepers Holdings, Inc., the largest distributor of imported spirits in the Philippines, reported that its net income climbed 56.8% to P650.7 million in the first half of 2021 compared to the P415.0 million it recorded in the same period last year. The Keepers President Jose Paulino Santamarina attributed the strong rebound to “the jump in sales on the back of the gradual reopening of the economy in the second quarter which allowed the Company to intensify marketing and promotional activities.” He added that a favorable sales mix and the strategic cost-saving measures implemented by the Group were contributing factors as well. The Keepers posted consolidated net sales of P4.30 billion for an increase of P1.11 billion, or a 34.8% increase year-on-year. “While we remain cautious of pandemic-related developments, we are optimistic for the business prospects for the second semester as we are seeing a very encouraging trend with our current sales under the brandy segment already surpassing pre-pandemic levels,” Santamarina said. The Keepers’ brandy segment, led by flagship brand Alfonso, registered a 58.6% sales

THE NEXT ATTRACTION: Render of PH Resorts Group's flagship project, the Emerald Bay in Punta Engaño, LapuLapu City, Cebu.

H Resorts Group Holdings, Inc (“PHR” or the “Company”), the Udenna Group’s gaming and hospitality subsidiary, successfully conducted a top-up placement where it was able to raise P600 million from a select group of Qualified Buyers, as defined under the Securities Regulation Code. The transaction consisted of approximately 352 million shares sold by PHR’s parent Udenna Corp at P1.70 per share. With the proceeds, Udenna Corp will then subscribe to the same number of shares to be issued by the Company at the same price, thereby injecting the funds into PHR. The proceeds will be used for the continued construction of the Company’s flagship project, the Emerald Bay Resort and Casino in Mactan, Cebu.

The top-up placement was successfully consummated despite the re-imposition of the Enhanced Community Quarantine (ECQ) restriction in the National Capital Region (NCR) and certain provinces adjacent to it as well as steadily rising COVID-19 cases nationwide. “Despite continuing fears about COVID-19 and with the Delta variant reaching our shores, we are very happy that there are investors that continue to remain bullish on the prospects of the country’s tourism and gaming industry. In fact, the participants in our top-up placement are existing shareholders and also participated in the Company’s follow-on offer (FOO) last November,” said PH Resorts COO gaming veteran Jose Angel Sueiro. PHR appointed Unicapital, Inc, Abacus Capital and Investment Corporation and China Bank Capital Corporation as placement agents for the transaction. The Company believes that with more of the population vaccinated in the coming months, there will be a resumption of both international and local flights, spurring a recovery in tourism in the Philippines and in the region. Emerald Bay is scheduled to open by the third quarter of next year. Upon completion of the first phase, Emerald Bay will feature 122 gaming tables for mass, premium mass and junkets; 600 electronic gaming machines (EGM) and 270 hotel room bays.

Entrasol Platinum now in the Philippines

HEN people get into their 40s, health and medical issues come to fore. At this age, the nutritional needs and metabolism of the body changes. Specific nutrients become more crucial for body development and to reduce the risk of diseases like diabetes, hypertension, cancer and osteoporosis. Sadly, these nutrients are not produced naturally in the body, so there is a need to be proactive with one’s habit and diet. Kalbe International, a leading manufacturer of nutritional products in Asia, understands that adults over 40 has a lot more going for them. Afterall, life begins at 40. They still have a lot to share and contribute to their families and the society. What they really need is a SOLmate that can help them get more so they can be more. For Kalbe, it is but natural to formulate a product that will help them to get more and be more. Known for being leader in the nutrition industry, Kalbe International is committed to providing quality and latest innovation products for specific needs of every segment of the society. Their products are scientifically formulated and manufactured under the most stringent quality and safety standards. They have now made available to the Philippine market another science based nutrition brand – Entrasol Platinum. Entrasol Platinum’s PROcare formula allows adults to get more nutrition. Its high protein,vitamin D and calcium combination helps maintain muscle mass and bone strength. Its high fiber that content helps optimum nutrition absorption. Its high

vitamin C, E and Zinc with MCT helps optimize the immune system. Its 75% whey protein helps muscle growth. The PROCare formula also contains 9 vitamins and 6 minerals and folic acid. In a pre-marketing surveillance conducted in 2020, it showed that with daily supplementation of Entrasol Platinum, patients recover faster. From an average of 14 confinement days, COVID-19 patients who were given 2 servings of Entrasol a day, were discharged after 10 days only or 53% earlier. Forty-three out of the 68 patients, or 63% enrolled in the program maintained their weight and 23 or 34% out of the 68 patients gained weight. This proves that Entrasol Platinum may be used to assist in supporting the nutritional needs of critically ill and hospitalized patients and even people recovering from illnesses and surgeries. For inquiries, call +63917-951-2000 email customer.ph@kalbeitnernational.com . “Kuya” Kim Atienza is first brand ambassador to help promote the company and its newest nutritional powdered milk drink, Entrasol Platinum.

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

The World BusinessMirror

Tuesday, August 24, 2021

Ardern further extends lockdown as New Zealand outbreak grows

In this photo released by Malaysia’s Department of Information, Malaysia’s incoming Prime Minister Ismail Sabri Yaakob, left, receives documents from King Sultan Abdullah Sultan Ahmad Shah before taking the oath as the country’s new leader at the National Palace in Kuala Lumpur. Khirul Nizam Zanil/Malaysia’s Department of Information via AP

Malaysia’s new PM strikes conciliatory tone in 1st address

UALA LUMPUR, Malaysia—Malaysia’s new Prime Minister Ismail Sabri Yaakob struck a conciliatory tone in his first national address Sunday, saying he would embrace the opposition in an effort to tackle the runaway pandemic and revive a slumping economy. A day after being sworn in, Ismail said the political battles that led to a change of government twice since 2018 elections had been detrimental to the country and distressed the public. “Let us move forward. Let us stem this grab for political power,” he said, urging all lawmakers to find common ground and work together to help the nation recover. The new prime minister, 61, said he would invite the opposition to be part of the National Recovery Council and the committee combating Covid-19. “Political stability must be swiftly achieved through unity, and this includes cross-party cooperation,” he said. Many view Ismail’s appointment as a return to the status quo. He was the deputy prime minister under the government of Prime Minister Muhyiddin Yassin, who resigned Monday after less than 18 months in office as infighting in his coalition cost him majority support. Ismail has sought to set himself apart from Muhyiddin’s government, which has been blamed for failing to curb the pandemic despite a seven-month state of emergency and a lockdown since June. Ismail obtained the backing of 114 lawmakers for a slender majority—one that also brought

Muhyiddin’s alliance back to power and returned the premiership to Ismail’s United Malays National Organization. The party led Malaysia since independence from Britain in 1957 but was ousted in 2018 elections amid a multibilliondollar financial scandal. Ismail said the government will purchase an addition 6 million doses of coronavirus vaccines, which will arrive next month to boost vaccination efforts. He did not provide further details. He said he believes that once the nation achieves herd immunity, the virus will no longer pose a serious threat. More than half of Malaysia’s adult population is fully vaccinated. Daily new infections have more than doubled since June to hit a record 23,564 on Friday, bringing the country’s total to over 1.5 million cases. Deaths have surged to above 13,000. The central bank cut its estimated growth forecast this year to between 3 percent and 4 percent due to the lockdown. Ismail said he understands the public is suffering, as thousands have lost their livelihoods. He said his government will introduce new policies to raise purchasing power and bolster the private sector. “Let us together, as one big Malaysian family, work to return Malaysia to its level of prosperity we were all once accustomed to. I pledge to work with the people,” he said. Muhyiddin pulled his party out of the reformist alliance that won 2018 elections, and formed a new government in March 2020 with UMNO and several other parties. AP

ew Zealand Prime Minister Jacinda Ardern further extended a strict, nationwide lockdown as an outbreak of the Delta strain of coronavirus continues to grow. The entire country will remain at Level 4 restrictions, the highest level of lockdown, until midnight August 27, Ardern told a news conference Monday in Wellington. That means the lockdown, initially put in place for three days, will now be in force for at least 10 days. Largest city Auckland, the epicenter of the outbreak, will remain at Level 4 for two weeks until midnight August 31. “We do need more information, we need more certainty,” Ardern said. “We don’t want to take any risks with Delta.” The Delta strain is testing New Zealand’s elimination strategy because it is so much more transmissible than the first iteration of the virus and has a shorter incubation period, meaning contact tracers have less time to find and isolate positive cases before they become infectious. In neighboring Australia, which is also struggling to contain a Delta outbreak, Prime Minister Scott Morrison wants the country to abandon his Covid-Zero strategy once 70 percent of the adult population is fully vaccinated. Ardern said her government still plans to “stamp out” the current outbreak, which on Monday grew by 35 new cases to 107. “For now, the elimination strategy is the right thing for New Zealand,” she said. “Going into next year, let’s continue to get advice. We are constantly learning, constantly adapting.”

6 million residents are wearying of it, even as authorities there this week implement tougher stay-athome restrictions in some areas, including nightly curfews. There were 818 new cases detected in New South Wales state on Monday. Me lbou r ne i s i n it s si x t h lockdown and today recorded 71 new cases. New Zealand and Australia have both had slow vaccine rollouts. According to the Bloomberg Vaccine Tracker, only about 24 percent of all Australians and 20 percent of New Zealanders are fully vaccinated. Ardern said early estimates suggest the transmission rate in the current outbreak—the number of people that each case infects on average—may be six or greater. It needs to be less than one to stamp the virus out, “so we have some way to go yet,” she said. There were over 320 locations of interest and more than 13,000 contacts recorded. So far, cases have only been identified in Auckland and Wellington, but there are contacts all over the country, Ardern said. The longer the lockdown remains in place, the bigger its impact will be on the economy. Last week the central bank delayed an interest-rate increase but insisted it remains on track to begin tightening monetary policy at its next meeting in October.

Australian lockdowns

HK border not reopening until virus at bay: Yau

Sydney has now been in lockdown for two months and the city’s

Key developments:

Hong Kong commerce secretary

Edward Yau defended authorities’ U-turn to reimpose some of the world’s strictest quarantine policies in an interview with Bloomberg TV. “We are playing a safe strateg y that we must keep Covid at bay before we talk about a f u l l a nd ent i re open border or economy,” he said, adding that reopening the border with mainland China “remains one of the major priority areas.” The city last week abandoned an attempt to cut quarantine to just a week for some vaccinated travelers, and put more countries on the high-risk level that requires three weeks. The move sparked anger locally, notably after it was revealed actress Nicole Kidman was given an exemption.

Thailand sees fewest cases in weeks

Thailand added the fewest number of new Covid cases in more than three weeks after quasi-lockdowns in the capital Bangkok and other virus hot spots entered its second month. The Southeast Asian nation, battling its most severe outbreak since the pandemic began reported 17,491 new cases in the past 24 hours, the lowest singleday increase since July 30, official data showed Monday. It also reported 242 deaths, taking the cumulative fatalities to 9,562.

China reports zero new local infections

China had zero locally transmitted cases and 21 imported coronavirus infections on Aug. 22, the National Health Commission said in a statement, as the country has worked to control a wave of delta variant cases. It also reported 16 imported asymptomatic infections. China’s model shows what it takes to get Covid under control, and raises questions about whether other nations would be willing and able to follow the

same draconian steps.

Taiwan’s Tsai gets homegrown jab

Taiwan begins administering its first domestically developed Covid-19 vaccines as it seeks to rely more on local options after struggling to secure sufficient supply of the major international shots. President Tsai Ing-wen on Monday got the vaccine developed by Taipei-based Medigen Vaccine Biologics Corporation. The company is yet to complete phase-3 trials for its vaccine but has been granted an emergency use authorization to begin inoculations.

Singapore seeks to broaden travel rules

Singapore is seeking to add more countries to its vaccinated travel lane program in a signal to the world it’s committed to reopening. After starting to allow vaccinated visitors from Germany and Brunei from next month, the citystate will “work from there to see which countries and how we can go about it,” Minister of Transport S. Iswaran told Bloomberg.

Schools may become unsafe, ex-FDA head says

T he US i s d i a g nosi ng “ ju st a small fraction” of children with Covid-19, and schools now reopening around the nation could become centers for broader transmission, said Scott Gottlieb, former head of the Food and Drug Administration. Tens of thousands of students are already in quarantine in states including Florida and Mississippi. “It’s proving to be hard to control in schools,” Gottlieb, a Pfizer Inc. board member, said on CBS’s “Face the Nation.” “I think that this is a harbinger of the challenges that we’re going to face nationally as schools reopen. The schools could become focal points of community transmission and can become environments that

Harris meets with Singapore officials to begin Asia visit Biden’s special envoy urges

I NGA PORE —T he W h ite Hou s e on Mond ay a n nounced a series of new agreements with Singapore aimed at combating cyberthreats, tackling climate change, addressing the Covid-19 pandemic and alleviating supply chain issues. The announcements coincide with Vice President Kamala Harris’s visit to the region, as part of the Biden administration’s efforts to counter Chinese influence there. On cyber security, the Treasury and Defense Departments, as well as the Cybersecurity and Infrastructure Security Agency, have each inked a memorandum of understanding with their Singapore counterparts expanding information sharing and training to combat cyber threats. On climate, the two nations are launching the US-Singapore Climate Partnership, a new effort between the Departments of Commerce, Energy, Transportation and Treasury and their counterparts in Singapore to develop new climate standards and collaborate on projects to expand clean energy infrastructure development and improve sustainability. The two nations agreed to cooperate more closely to track Covid-19 variants and engage in research on coronavirus treatments. And the Department of Commerce is joining with the

Singapore Ministry of Trade and Industr y to create a partnership focused on strengthening trade throughout a handful of key industries. The White House announced additional agreements between the two nations fostering cooperation on space exploration and defense issues as well. The announcements came Monday after Harris met with Singapore President Halimah Yacob, and Prime Minister Lee Hsien Loong. Harris’s Southeast Asian trip, which brings Harris to Singapore and then later to Vietnam this week, is aimed at broadening cooperation with both nations to offer a counterweight to China’s growing influence in the region. On Monday morning, Harris participated in a welcome ceremony outside the Istana, the presidential palace, where she held her hand over her heart while a marching band played the Star Spangled Banner. She then walked around the courtyard, reviewing the band, accompanied by Singapore Prime Minister Lee Hsien Loong. Loong then showed her a species of an orchid that was named in her honor, and Harris participated in a brief courtesy call with President Halimah Yacob, before heading into a series of bilateral meetings with the prime minister. After her meetings, the vice

president will participate in a joint news conference, and later visit the Changi Naval Base, where she’ll speak to American sailors aboard the USS Tulsa, a combat ship. On Tuesday, Harris will deliver a speech outlining the Biden administration’s vision for the region, and meet with business leaders to discuss supply chain issues. The trip marks Harris’s second foreign trip—she visited Guatemala and Mexico in June—and will be the first time a US vice president has visited Vietnam. Singapore is the anchor of the US naval presence in Southeast Asia and has a deep trade partnership with the US, but the country also seeks to maintain strong ties with China and a position of neutrality amid increasingly frosty US-China relations. Relations between the US and China deteriorated sharply under Biden’s predecessor, Donald Trump, and the two sides remain at odds over a host of issues including technology, cyber security and human rights. US Secretary of State Antony Blinken and US Defense Secretary Lloyd Austin made their first overseas trips to Japan and South Korea. Austin traveled to Singapore, Vietnam and the Philippines last month and he vowed US support against Beijing’s intrusions in the South China Sea.

Harris is expected to emphasize the need for a free and open IndoPacific region in her conversations with Singapore’s and Vietnam’s leaders. Alexander Feldman, president and CEO of the US-Asean Business Council, said Harris will have to be careful in her conversations with Singapore’s leaders not to focus too heavily on China, but to emphasize a positive, productive US relationship with Singapore and Vietnam. “Where she could fall into a trap is really trying to pit this as a US versus China trip. It should be a US trip to our friends and partners in Southeast Asia,” Feldman said. If China becomes the main focal point, he said, “that makes it harder for our friends to move forward across the region, not only in Singapore and Vietnam but beyond that.” Indeed, Singapore Foreign Minister Vivian Balakrishnan said in a recent interview that Singapore will “be useful but we will not be made use of ” in its relations with both countries, and the nation’s prime minister previously warned the US against pursuing an aggressive approach to China. Beijing, however, has seized on the visit, with China’s official Xinhua News Agency issuing an editorial Saturday on Harris’s trip portraying it as part of a drive to contain China. AP

North Korea to return to talks

EOUL , Sout h Korea—US President Joe Biden’s special envoy for North Korea said Monday he’s ready to meet his North Korean counterparts “anywhere and at any time” as he held discussions with South Korean officials over stalled nuclear talks with the North. Sung Kim’s visit to Seoul comes amid declining expectations for a quick resumption of talks and new tensions over ongoing US-South Korean military exercises. North Korea has described the exercises as a rehearsal for an invasion and has threatened unspecified countermeasures that would cause a “security crisis” for the US and South Korea. A fter meeting w ith senior Sout h K orea n d iplom at Noh Kyu-duk, K im reiterated that the Biden administration has no hostile intent toward North Korea and that the joint drills are routine and defensive in nature. Kim and Noh told reporters they discussed possible ways to facilitate diplomacy, including humanitarian cooperation with North Korea in providing anti-virus resources, sanitation and safe water. They did not announce any specific plans. Kim also is to meet Russian Deputy Foreign Minister Igor Morgulov, who is also visiting Seoul. “The United States does not have hostile intention for North Korea,” Kim said. He said the joint US-South Korea military exercises

are “long-standing, routine and purely defensive in nature and support the security of both our countries.” “I continue to stand ready to meet with my North Korean counterpart at anywhere and at any time,” Kim said. Talks between the United States and North Korea have stalled since the collapse of a summit between former President Donald Trump and North Korean leader Kim Jong Un in 2019, when the Americans rejected the North’s demand for a major easing of economic sanctions in exchange for a partial reduction of its nuclear capabilities. Kim has since pledged to bolster his country’s nuclear deterrent while urging his people to stay resilient in a struggle for economic self-dependence in the face of US pressure. His government has so far rejected the Biden administration’s overtures for talks, demanding that Washington abandon its “hostile” policies first. North Korea has closed its borders since the start of the pandemic, but it will eventually have to open itself to humanitarian assistance and dialogue with the United States to carry out vaccinations, said Leif-Eric Easley, a professor of international studies at Ewha Womans University in Seoul. That doesn’t necessarily mean it will abstain from a missile test during or after the US-South Korea drills, Easley said. AP

Sports BusinessMirror

Magsayo: The next star is born?

ISING junior golfer Monique Arroyo continued to make a name on the green as she ruled the FCG National Tour Series last July 12—two weeks before the historic Olympic gold medal of Hidilyn Diaz—at the Lomas Santa Fe in California. The Grade 11 student at International School Manila, a granddaughter of former President Gloria Macapagal-Arroyo and daughter of Rep. Mikey Arroyo, shot a 78 to beat Emma Rahn of the United States. The young Arroyo’s impressive effort also proved too much for Boys College Prep division champion Kai Myers, who managed an 80. Arroyo also joined the Los Angeles Junior Championships last July 17 and 18 and held her own against the best players of Los Angeles County in the event recognized by the United States Golf Association. She finished with a strong 151 against eventual champion Rilee Crosby of USA (145) and Jillian Leh of Taiwan (148).

OKYO—Having left their troubles behind in Manila, all 12 members of the Philippine contingent have settled down and are getting ready for the opening ceremony of the 2020 World Paralympic Games on Tuesday at the sprawling Japan National Stadium. From their quarantine facility at the Conrad Hotel, the delegation left early Sunday for the airport and were given a clean bill of health after all of them had taken swabs tests shortly following their arrival at the Haneda International Airport in Tokyo before noon. They were then taken by shuttle to the Paralympic Athletes Village where each delegate was assigned

| Tuesday, August 24, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

‘I WANT TO LEAVE

MARK “MAGNIFICO” MAGSAYO’S bound for stardom. AP

AS VEGAS, Nevada— Opportunities are now up for grabs for knockout artist Mark “Magnifico” Magsayo for showing the world how dangerous he is in the featherweight class. Magsayo thrilled on Saturday at the T-Mobile Arena after knocking out cold Mexican Julio Ceja in the 10th round of their World Boxing Council (WBC) world featherweight title eliminator with a solid right straight followed by a right hook to stay undefeated in 23 fights (16 knockouts). That performance elevated his pro career into a new level: World title opportunities in the WBC or World Boxing Organization (WBO). “All I can tell you is that a star was born. Mark Magsayo showed amazing fortitude,” MP Promotions President Sean Gibbons told BusinessMirror on Sunday. “He scored an early knockdown, he went down, but he was learning every round, and he came home and took

the guy’s lights out.” Gibbons clarified that the 26-year-old Tagbilaran City fighter has a lot of opportunities on his side although it is not very easy at the moment to assure if one of them will be a world title bout. “We’ll see what opportunities may arise. Champions have their mandatories, but I’d like to see him fight,” Gibbons said. Although Magsayo is ready to take on any of the world champions, Gibbons wants the best opportunity possible. WBO has the dangerous reigning champion Emanuel Navarrete of Mexico, British sensation Kid Galahad and American WBC champion Gary Russel Jr. as the top dogs of the featherweight community. “At the end of the year, I’d like to see him fight for sure,” Gibbons said. “We just want to make sure when he gets the opportunity, he seizes it and wins it.” Josef Ramos

Make way for Monique

A LEGACY’ By Josef Ramos

AS VEGAS, Nevada— The whole world has seen the best of Manny Pacquiao as he carved his rightful place in the annals of boxing. On Sunday, the world saw his worst, if not the last time he’d be inside the ring. But Pacquiao, at 42, is in no rush to retire from the sport he loves so well. “I have to consider my body,” he said. “I will see the response of my body.” Pacquiao suffered a unanimous decision loss at the hands of Cuban orthodox fighter Yordenis Ugás who retained the World Boxing Association welterweight crown the Filipino won two years ago atop the ring opposite Keith Thurman. The Filipino boxing icon obviously was the inferior boxer inside the ring, unable to move around as fluidly as he did many times in the past that made him an eight-division world champion. The lethal punches that did the talking as he took one superior and equally illustrious fighter after another was also wanting in the fight viewed by a live fans of more than 17,000. Freddie Roach, Pacquiao’s long-time trainer, said Saturday’s loss could be the sign of retirement.

“I hate to see the day he retires, but this could be it,” Roach said. “He didn’t perform well. I am a little bit worried about it. He boxed for a long time.” But again, Pacquiao has given himself a month to make one final decision—including on his aspiration of becoming the 17th president of the Philippine republic. “As long as I live in this world, I want to leave a good legacy not only as a good fighter but I also want to be an inspiration to everybody inside and outside the ring,” said Pacquiao, who has boxed professionally for more than two decades. “I’m a public servant, not a politician. I want to serve my people.” Pacquiao said he has no regrets taking on a substitute fighter just to entertain his million fans. He was supposed to fight International Boxing Federation and World Boxing Council welterweight titleholder Errol Spence Jr., but was forced to withdraw at the last minute because of a left eye injury. “I don’t have any regrets for taking the fight. No excuses for me,” the fighting senator said. “As I said, boxing is my passion, that’s why I am here at age 42. I am enjoying it.” BusinessMirror learned that Pacquiao’s eyes were irritated from the fight, just like what happened when he fought Adrien Broner and Thurman in 2019.

MMA bets in PSA Forum

MONIQUE ARROYO is a rising star on the green.

HE sister-brother tandem of Denice and Drex Zamboanga make their first appearance in the virtual session of the Philippine Sportswriters Association (PSA) Forum on Tuesday. Denice will discuss her coming fight in One: Empower which features 18 of the best

mixed martial artists seeing action in the historic September 3 event at the Singapore Indoor Stadium. She is taking on Arale Chan Seo Hee Ham of South Korea in the quarterfinals of the women’s atomweight World Grand Prix. Drex will talk about what’s next for him following a successful One debut last year after winning via submission against Detchad-

MANNY PACQUIAO is in no rush of retiring from the sport he love so well. AP

He added he wanted to take on the best fighters in his weight class to motivate the young lions led by IBF super flyweight champion Jerwin Ancajas, World Boxing Organization bantamweight champion Johnriel Casimero and rising featherweight star Mark Magsayo and Jonas Sultan, among others. Pacquiao, his family and entourage left Las Vegas quietly before noon on Sunday and are expected to stay a few days in Los Angeles before returning to the Philippines. in Sornsirisuphathin of Thailand. The session, presented by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant, and the Philippine Amusement and Gaming Corp. starts at 10 a.m. The forum, powered by Smart with Upstream Media as the official webcast partner, is livestreamed via the PSA Facebook page fb.com/ PhilippineSportswritersAssociation and also shared by Radyo Pilipinas 2 Facebook page.

PHL PARA ATHLETES READY FOR GAMES

their respective quarters in the trip fully supported by the Philippine Sports Commission. Leading the delegation was Philippine Paralympic Committee president Mike Barredo while the athletes who qualified are swimmers Ernie Gawilan and Gary Bejino, discus thrower Jeanette Aceveda, wheelchair racer Jerrold Mangliwan and powerlifter Achelle Guion. Taekwondo jin Allain Ganapin and his coach, Dindo Simpao, are scheduled to leave for the Japanese capital on August 29.

Lessons from Coach Winters MIKE WINTERS still exudes calm and confident demeanor even after 25 years in high school basketball, 18 as head coach and seven as an assistant. He was named IBCA District Coach of the Year seven times, the Sauk Valley Newspapers Coach of the Year award once in 2006 and the NIC-10 Coach of the Year in

A veteran of the 2016 Rio Paralympic Games, Mangliwan was awarded the distinction of being the country’s flag-bearer during the audience-free opening ceremony starting at 7 p.m. (8 p.m. in Manila) in the 80,000-seat arena featuring the world’s premier para athletes from 163 countries. “While the formal opening will begin at 7 p.m. the participants will be starting to move from the Athletes Village to the stadium,” chef de mission Francis Diaz said. Not to be outdone by their Olympic counterparts, PPC secretary-general Walter Torres said the delegation members will all be clad in the traditional Barong Tagalog designed by the Bordado ni Apolonia, a family of

2016. His teams also won seven conference titles, eight regional crowns and 4 sectional championships, as well as nine 20-win seasons and two 30-win seasons. It’s a resume and a body of work worthy of a Division 1 head coaching job in a major program. Winters will consider an opportunity, if and when it presents itself, after he talks to his family. He has received offers but to him, it has to be at the right time. He’s never been thrown out of a game. Unfortunately, I never got to ask him if he’s ever gotten a technical foul for arguing a call or arguing with an official, but I’d be surprised if he even argued a call or contested a call. If he ever did, it is because he’s fighting for his kids, he’s fighting for his players, especially if he thinks they’re getting the short end of the calls. Winters is the head coach of the Harlem High School Huskies. The school is located in Machesney Park which is west of Chicago about an hour and a half drive and an hour and 15 minutes away from Milwaukee, Wisconsin, which is the home of the newly minted National Basketball Association champion Milwaukee Bucks.

noted artisan embroiderers from Taal, Batangas. “The embroidery on the Barong is fully hand-made and a labor of love,” Torres said. “The ‘Disenyong Bigkis’ portrays the unity and nationalism of every Filipino.” Embroidered on the right of the Barong are the words “Mahal Kita” and on the left “Pilipinas” written in the early form of the Filipino alphabet. Each participant will also be wearing a “salakot” or native hat and given a hand-embroidered face mask made of pina with the sun and stars of the Philippine flag The parade uniforms as well as other logistical requirements of our Paralympics delegation are provided for and supported by the PSC.

According to his book The Journey: Lessons from the Hardwood and his website coachwinters.com, “Coach Winters has coached players who have gone on to play at Kansas State, New Orleans, Florida A & M, Evansville, Southeast Missouri, Ball State, WisconsinGreen Bay, University of Illinois-Chicago, WisconsinMilwaukee and Air Force and many others who have competed at the Division II, Division III and JUCO levels. Two of his former players are now college head coaches.” His coaching style is values based and his system is structured. He’s established relationships with hundreds of his players and made an impact in their lives. Two of his former players have gone on to become college head coaches, Josh Pickens at Lawrence Tech University and Jeremy Reigle at Rockford University. Coach Winters was a guest on “Sports For All” last Saturday and I asked him everything from mental health in youth sports, to coaching against former Golden State Warrior, Sean Livingston, who’s from Chicago, to Chet Holmgren, former No. 1 high school

Romero gives cash incentives to Tokyo Games boxing medalists

OUSE Deputy Speaker Mikee Romero (1-Pacman Partylist) delivered his promise to the Tokyo Olympics boxing medalists even though he is out of the country. Romero led a virtual and simple handover ceremony of checks representing rewards to Nesthy Petecio, Carlo Paalam and Eumir Marcial at the AirAsia headquarters at the Ninoy Aquino International Airport Terminal 3 over the weekend. In a ceremony aptly dubbed “Bagsik Ng Kamao,” Romero fulfilled his pledge of rewarding P2 million each to silver medalists Petecio and Paalam and P1 million to bronze medalist Marcial. “Nesthy, Carlo and Eumir brought immense pride and hope to the Filipino people amid these trying times due to the pandemic. They truly deserve these blessings,” said Romero. “But please, your Olympic journey should not stop in the Tokyo Games, the gold medal is within your reach.” Edwin Galvez, CEO in one of Romero’s companies, and AirAsia executive Erick Arejola handed the checks to the Tokyo Olympics heroes. Romero also stressed the significance of their victories to Philippine boxing. “They proved once again that the Filipino can match and surpass the best in the world in boxing, like what Manny Pacquiao and our other great boxers did,” he said. Two weeks ago, Romero personally handed a P3 million check to Hidilyn Diaz, the country’s first Olympic gold medalist. Romero also promised Marcial of a lifetime free electricity as he operates the electric cooperative in Zamboanga City. To his delight, Marcial stood out and unleashed some combinations before thanking the former amateur basketball godfather. Romero also appealed to Paalam not to turn professional, telling the pride of Cagayan de Oro City that “you’re still young and the Paris 2024 Olympics beckons.” “We are extremely proud of these sports heroes. Their achievements will surely serve as an inspiration to the next generation of Filipino boxers,” said the NorthPort owner. The sports patron’s handing of the rewards to the three fighters couldn’t have a better timing as they were bound to return to their respective hometowns.

WITH Deputy Speaker Mikee Romero in the background, boxers Carlo Paalam, Nesthy Petecio and Eumir Marcial hold replicas of their checks alongside Edwin Galvez, CEO in one of Romero’s companies, and AirAsia executive Erick Arejola.

player in the US and a 7-foot-1 incoming freshman at Gonzaga University who can shoot from anywhere on the court and who can handle the ball like a guard, in my opinion, Kevin Durant 2.0. I also asked him about coaching his kids, McKenna in softball, and Brandon in basketball and possibly hearing whispers from their peers and their parents about being on the team only because their father is the coach. I’m sure Coach Winters has prepared his children to deal with the outside noise—their awareness is different and they’re on the outside looking in. We also talked about his growth as a teacher and as a student of the game. Winters follows Coaches John Calipari, Rick Pitino and former Wisconsin Badgers coach Bo Ryan. Reading his book (just finished part 1), you get a sense of how passionate this man is about coaching and that he never holds back when it comes to his players, and you begin to understand why his players are willing to run through a wall for him, if I were one of his players, I would.

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