BusinessMirror December 07, 2021 by BusinessMirror

UNWTO cites risks ‘Close borders, cut Omicron risk’ to intl exposure tourism restart By Cai U. Ordinario

with their loved ones, while foreigners living in temperate regions usually want to relax in tropical LOSING the country’s borders countries like the Philippines. This is one of the most immediate year’s influx of OFWs is expected to courses of action the governbe heavier since many of them were ment must take to prevent the latunable to come home for the holidays est Covid-19 variant, Omicron, from in December 2020. reaching Philippine shores, accord“My recommendation is to protect ing to local economists. the borders. Do not allow people with T he new var iant is a threat, a history of travel to countries with e s p e c i a l l y w it h t he hol id ay s positive cases to enter,” Oplas said. coming up and more foreigners “We should be more restrictive. [We being a llowed to travel to the have to be] more protective in terms Philippines, De La Sa lle Univerof our measures.” sit y economist Mar ia Ella Oplas Oplas said that while this will be told BusinessMirror. a setback to some industries, this SENATOR Manny Pacquiao, a presidential aspirant, and his running mate Buhay Rep. Lito Atienza pose with the ALC Media Group representatives led by in its chairman, A. Cabangonconsidering (fifth from left) after a The holidays usually bring is D. a Edgard fair measure that freewheeling exchange with journalists on Monday at Pacquiao’s Makati residence. Others in photo are (from L): Cely Ortega BuenoWorkers of DWIZ, Susan Cambri and Evelyn of Pilipino Sharon Tan, Lourdes Overseas Filipino (OFWs) thisQuiroz could help Mirror, prevent placing the BERNARD TESTA Fernandez of BusinessMirror, Mrs. Beng Atienza, Butch Fernandez of BusinessMirror and Lito Gagni of Philippine Graphic magazine. Story onChristmas page A12, “Free housing impossibleinif you don't have a plan.“ who are eager to spend country another strict lockdown, @caiordinario

Tuesday, December 7, Monday, November 29,2021 2021Vol.Vol.1717No.60 No.52

HEsaid, continuing spreadcan of the which, she the economy no coronavirus across the globe longer afford. will likely tourism “It is better that cost we dothe protective sector some $2 trillion in earnings preventive measures than get exthis year. posed again. We have a lot to lose,” This latestdoforecast of Oplas said.was “Wethe should it now so the United Nations World Tourthat we can open just before ChristismIf itOrga ni zat ion we (U can N Wopen TO), mas. gets contained, with one in five destinations conit again.” tinuing to be completely closed Ateneo Center for Economic Reas Covid-19 surges hinder the search and Development (ACERD) restart of international tourism. Associate Director Ser Percival was the same amount the lost K.This Peña-Reyes said closing in 2020. country’s borders would be effec but As of end-November, just tive should still adhere to four the destinations had completely lifted standards set by the World Health all Covid-19-related Organization (WHO). restrictions: Colombia, Costa Rica, Dominican What is needed, Peña-Reyes told Republic and Mexico. this newspaper, is for travel restric The warned thatand intions to beUNWTO put in place swiftly

ternational tourism be furfor government to be will proactive in ther delayed by “uneven vaccinaimposing them. tion rates around the world Previous instances when and the new Covid-19 strains which country had the opportunity tohad imprompted new travel restrictions pose travel restrictions did not prein some countries.” The discovery vent the spread of Covid-19. That was of the new Omicron variant has led mainly because the decision was not many countries to reinstate made immediately, he said. border restrictions to avert its spread to “Kung papatay patay [If we’re their and shores. slow] we get caught flat-foot In the risky] Philippines, ed, [that’s We weregoverntoo rement widened the so-called Red active instead of proactive before. List countries, which now inWe should learn from that,” Peñacludes: South Africa, Botswana, Reyes said. “It’s a delicate balancing Namibia, Zimbabwe, Lesotho, act. We need to push testing and Eswatini, Mozambique, Austria, tracing to be properly informed Czech Republic,Blanket/shotgun Hungary, The of our decisions. Netherlands, Switzerland, Belapproaches could have dire consegium, and quences on Italy. the economy.” Continued on A2 See “Omicron,” A2

BSP PRODS BANKS: FUND NATL GOVT BORROWINGS FOR 10 MOS DIP TO P2.75T PHL ENERGY TRANSITION ww

n n

P25.00 P25.00nationwide nationwide||22sections sections20 20pages pages||

Bicameral Omicron risk spursofrevival OK ₧5-T of quarantine ’22 budget rules in PHL this week

Bianca Cuaresma ByBy Bernadette D. Nicolas @BcuaresmaBM @BNicolasBM

HE HE Bangko national Sentral ng government’s Pilipinas gross (BSP) urged borrowings as of banks to support end-October shrank the country’s by almost 6 percent energy transition year-on-year to and shift to P2.75 trillion. mainstream sustainable Latest data from the Bureau of the finance inthat anthe governTreasury showed ment’s gross borrowings during the effort to “climate10-month period fell by 5.99 percent proof” the alocal from P2.92 trillion year ago. With only two months left for financial situation. this year, the latest figure is already

equivalent to 89.6 percent of its P3.07-trillion BSP Governor Benjamin Dioborrowing program. kno called on banks, in a recent Broken down, gross domestic borspeaking engagement, toOctober follow rowings from January to the central bank’s enabling regusettled at P2.23 trillion, down by latory environment to drive sus5.08 percent from P2.35 trillion tainable in 2020. finance in the country. Banks, Diokno said,amount should take The bulk of the was on the green sustainable path sourced fromand Fixed Rate Treasury and lead(P1.19 supervised entities by exBonds trillion), followed by ample. short-term borrowings from Bang ko“We have started integrating Sentral ng Pilipinas or BSP (P540 sustainability principles in our billion), Retail Treasury Bonds/Preinvestment process with over myo Bonds (P463.3 billion), Retail $550-million investment in Onshore Dollar Bonds (P80.84the bilGreen Fund managed by lion). InBond the same period, there was the International SettlealsoBank a netfor redemption of Treasury ments,” the governor said. billion. Bills amounting to P43.94 “We are also reviewing our Net debt redemption means investment strategy to consider there were more debts repaid com-

By Samuel P. Medenilla @sam_medenilla

By Jovee Marie N. dela Cruz @joveemarieL concerns NTER NATIONA over the possible spread of the HE congressional bicameral more infectious Omicron Cocommittee on vid-19conference variant prompted the govthe to disagreeing ernment reimpose provisions mandatory offacility-based the proposedquarantine 2022 P5.024for trilall lion General Appropriations Act is arriving passengers in the country. eyeing to finish the final version Acting Presidential spokesperofson theKarlo B. annual Nograles budget this week, a announced leader of the House of Representaon Sunday that the Inter-Agency tives on Monday. Tasksaid Force for the Management ofInEmerging an interview, House ComInfectious Diseases mittee Appropriations Chair(IATF) on suspended the implemenman EricofYap members the tation its said Resolution No.of150bicameral committee from both A (s.2021), effectively imposing chambers of Congress agreed stricter protocols forhave all inbound to approve their final version of the travelers. budget this week for them to ratify To note, IATF Resolution 150the budget proposal next week or A had allowed fully vaccinated by December 13. from Green List non-visa travelers areas According to Yap, he and Senate to enter the country withCommittee on Finance Chairman out the need for facility-based Sonny Angara will as reconcile the quarantine as long they secure conflicting versions of the 2022 negative Reverse Transcriptionnational budget in their “one-onPolymerase Chain Reaction (RTone” meetings. PCR) test within 72 hours prior to“[By finalizing the theirtradition] departure. budget will be to me and Sena“Except forleft countries classified tor Angara with the guidance of the as ‘Red,’ the testing and quarantine members the House appropriaprotocolsoffor all inbound internations committee,” he added. tional travelers in all ports of entry

PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. The country will celebrate the 158th birth anniversary of Filipino revolutionary hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO

OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND By Jasper Emmanuel Y. Arcalas

dating its registry following the them. This allows everyone to see programs as President Duterte enactment of the Coconut Farmwho are listed in the registry and if is expected to sign the industry TWENTY-EIGHT public schools in the National Capital Region Monday started conducting pilot face-to-face classes amid the Covid-19 pandemic. At thehe La Huertadevelopment Elementary School in Parañaque ersonand Industry Trust Fund law. farmer doesn’t see his name then plan in earlyCity, 2022. students and teachers wearing face masks return after two years to physical classrooms fitted with plastic dividers and social-distancing markers as a safety precaution against the coronavirus. page ORE than 3 million Rosales explained that about shall coordinate with the PCA imRosales said the PCAStory willonnot See “BSP,” A2 NONIE REYES Continued on A2 A6, "DepEd cautiously opens in-person classes in some NCR schools amid Omicron threat." coconut farmers and 500,000 coconut farmers and mediately,” he explained at a recent stop updating its list of coconut pared to the amount borrowed durshall comply with the testing and workers are now regisworkers were added to the PCA’s dialogue with coconut farmers. farmers and enjoined them to reging the period. quarantine protocols for ‘Yellow’ tered with the government’s reg2018 list that had about 2.5 million “On the other hand, if people ister in order to reap the benefits Meanwhile, gross foreign borlist countries,” Nograles said, citing istry, which serves as the basis coconut farmers and farm workers. would see names on the list and of the decades-long idled coconut rowings in the same period also the provision of IATF Resolution for the number of people to be The PCA’s next step is to conthey think they are not coconut levy fund. “We will not stop at 3.1 contracted by 9.7 percent to P518.7 No. 151-A. covered by the utilization of the duct an exclusion-inclusion profarmers or their details are incormillion. We hope that more indibillion from last year’s P574.4 billion. He noted Hong Kong, which has P75-billion coconut levy fund. cedure by making the updated rect, they can report it to the PCA viduals will register in our coconut This was raised through global confirmed a case of the Omicron By Cai U. Ordinario Philippines the laggard defense mance, according to fall theunder data, the is Yel Philippine Coconut Authority farmers’ registry public, provid- the for immediateisaction,” he added. capability farmersand registry,” henetworks; said. bonds (P146.17 billion), program variant, will also @caiordinario with Singapore taking the lead economic capability and relationdeclining. (PCA) Deputy Administrator Roel ing everyone the opportunity to The PCA official noted that The updating of the coconut loans (P139.98 billion), euro-delow list countries. followed byinitial Indo-list ships; diplomatic and in-by I mpro vesuspension me nt s i n ofpthe e r for - for M. Rosales said about 3.11 million check the veracity of the list, Ro- at 8th the place, completion of the farmers registry is cultural mandated nominated bonds (P121.97 billion), The rules HE Philippines’s perfornesia at 9th; Thailand at 10th; fluence; and resilience and future mance were noted in political coconut farmers and farm worksales added. of coconut farmers registry would Republic Act (RA) 11524 or the a project loan (P86.41 billion), and “Green List” countries will be in in the PowerinInandthe Vietnam the country’s ers have been registered with the mance “The list willAsia be posted public Malaysia be justatin11th; time for expected resources. Coconut Industry Trust Fund Act. stability effect where from November 28, 2021 to yen-denominated samurai bonds dex continued to contract in see at 12th overall. scoreDecember improved15, by 2021. 2 points, placgovernment since it started upSee “3-Mmeasure farmers,”tracks A2 spaces where people can easily rollout of coconut levy-funded The resilience (P24.19 billion). 2021 due to low scores in resilience “The Philippines performs best a country’s capacity to deter real ing it in 22ndContinued out of 26 See “Borrowings,” A2 oneconoA2 and future resources, according to in the defense networks measure, or potential external threats to mies as well as government efthe Sydney-based Lowy Institute. where it places 9th. The country’s state stability. The indicator is fectiveness with an increase of n US 50.4600 n JAPAN 0.4374 n UK 67.2329 n HK 6.4722 n 16th CHINAout7.9013 lowest n SINGAPORE 36.8968 innthe AUSTRALIA 36.2807 n 56.5758 n SAUDI ARABIA 13.4531 Source: BSP (November 26, 2021) The country ranked ranking occurs remeasured in EU terms of internal 1 point and ranked the country of 26 economies for comprehensilience measure, coming in at institutional stability, resource 15th overall. sive power, with an overall score 20th place, reflecting poor levels security, geoeconomic security, Meanwhile, the Philippines lost of 13.1 out of 100 in the Lowy Inof internal stability,” the Lowy geopolitical security and nuclear the most points in future resources stitute’s Power Index. The country Institute said. deterrence. with 1.4 points. This deals with the lost 0.2 points or a contraction The Low y Institute evalu The Philippines ranked the distribution of future resources of 2 percentage points in overall ates international power in Asia lowest in terms of high-intensity and capabilities, which play into score in 2021. through 131 indicators across eight internal conflict years at 25th perceptions of power today. Compared to its Asean peers, thematic measures—militar y overall. The trend of the perforSee “Power index,” A2 @jearcalas

LOWY ASIA POWER INDEX: PHL KEEPS POOR RANKING

PESO EXCHANGE RATES

PESO EXCHANGE RATES n US 50.4050

n JAPAN 0.4467 n UK 66.6556 n HK 6.4673 n CHINA 7.9054 n SINGAPORE 36.7544 n AUSTRALIA 35.2734 n EU 57.0030 n SAUDI ARABIA 13.4367

Source: BSP (December 6, 2021)

News

BusinessMirror

A2 Tuesday, December 7, 2021

PNRI, citing energy crunch, pushes EO on nuke power

By Lyn B. Resurreccion

HE head of the Philippine Nuclear Research Institute (PNRI) is appealing to President Duterte to sign the policy statement on the use of nuclear energy in the energy mix of the country.

“I appeal for President Duterte to sign it [proposed executive order adopting a national position on the use of nuclear power],” Director Carlo Arcilla of the PNRI of the Department of Science and Technology told an online news conference. Arcilla said that the Nuclear Energy Program-Interagency Committee (NEP-IAC) that was created by Duterte in 2020 submitted to the president late last year the proposed national position, which is awaiting the president’s signature.

“I hope he [Duterte] will leave a lasting [policy by signing the executive order],” he said. Arcilla made the appeal expressing the urgency to have a new energy source, saying the country is facing a power shortage with Malampaya expected to run out of gas source in three years. In case the issue is not resolved under the Duterte administration that will end in May 2022, it could be an election issue, he added. Arcilla told the BusinessMirror that if Duterte agrees to develop

nuclear power, the quickest facility the country could have is the Bataan Nuclear Power Plant (BNPP), which was never used since it was built in the 1980s. He said South Korea has an active proposal to rehabilitate BNPP for $1 billion to $2 billion. Rehabilitation can be made in four to five years. The PNRI chief said that if the proposed executive order is not signed, all the steps that were prepared will not push through. He said scientists from Japan and the International Atomic Energy Agency (IAEA) have helped the country in assessing the country’s nuclear power capability in the past years. At the same time, the PNRI has led in giving briefings to government officials from July to December 2020 on the use of nuclear power. Arcilla added that the renewable energies that are available for the country—solar, wind and geothermal—are important energy sources, but they are not sufficient baseload source.

He said the nuclear power plants that were “sisters” of BNPP, having been made at the time in the 1980s or having the same structure, are still working and providing the needed energy, citing those in South Korea, Brazil and Slovenia. No problems were encountered in their operations, he added. At the same time, South Korea, from one nuclear plant in 1980, now has 23 power plants—all aiding Korea’s industry energy requirements and providing its residents “about half of our electric rates.” Arcilla reiterated the nuclear energy advocates’ position regarding its benefits—such as, it is clean for having no greenhouse emission; is unaffected by weather disturbances; new technologies are safe having lower risks based on lessons learned; and, it enhances industry and energy security, among others. At the same time, scientists from the National Academy of Science and Technology have supported nuclear power as part of the country’s energy mix.

UNWTO cites risks to intl tourism restart Continued from A1

“Filipinos from Red List countries/territories/jurisdictions al-

lowed entry via government-initiated repatriations, non-government-initiated repatriations, and

Bayanihan Flights shall only be allowed to deplane via the Ninoy Aquino International Airport and/

or Clark International Airport,” said the latest guidelines from the Inter-Agency Task Force on the Management of Emerging Infectious Diseases.

Arrivals still below pre-Covid levels

ALTHOUGH the UNWTO recorded a 58-percent increase in tourist arrivals from July to September this year compared to the same period in 2020, this remained 64 percent below 2019 levels. Between January and September 2021, international tourist arrivals were 20 percent lower compared to 2020, a clear improvement from the 54-percent drop over the first six months of the year. “Data for the third quarter of 2021 is encouraging,” said UNWTO Secretary-General Zurab Pololikashvili in a news statement. “However, arrivals are still 76 percent below prepandemic levels and results across the different global regions remain uneven.” With the emergence of new Covid-19 variants, he added, “We cannot let our guard down and need to continue our efforts to ensure equal access to vaccinations, coordinate travel procedures, make use of digital vaccination certificates to facilitate mobility, and continue to support the sector.” Arrivals in Asia and the Pacific were down by as much as 95 percent compared to 2019, as many destinations remained closed to non-essential travel. The UNWTO projected revenues from international tourism could reach $700-800 billion this year, a small improvement from 2020, but less than half the $1.7 trillion recorded in 2019. The economic contribution of tourism is estimated at $1.9 trillion in 2021, as measured in tourism direct gross domestic product. This, however, was well below the prepandemic value of $3.5 trillion. “The safe resumption of international tourism will continue to depend largely on a coordinated response among countries in terms of travel restrictions, harmonized safety and hygiene protocols and effective communication to help restore consumer confidence. This is particularly critical at a moment when cases are surging in some regions and new Covid-19 variants are emerging in different parts of the world,” the UNWTO said. Ma. Stella F. Arnaldo

www.businessmirror.com.ph

Bicameral OK of ₧5-T ’22 budget this week Continued from A1

“We are going to finish this [bicam deliberation] in four days [starting this Monday] because we need to ratify it next week before our Christmas break. Our target [ratification] is December 13. Hopefully, the President can sign it into law before Christmas,” said Yap. Congress is expected to take a Christmas break starting December 15.The proposed P5.024-trillion GAA for 2022 is the last national budget to be enacted under the Duterte administration. With the theme, “Sustaining the Legacy of Real Change for Future Generations,” the 2022 P5.024-trillion 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. For 2022, the government expects to generate P3.290 trillion in total revenues, representing 14.9 percent of the GDP. Moreover, Yap said his meeting with Angara will focus on budget provisions for the National Task Force to End Local Communist Armed Conflict (NTF-Elcac), the Special Risk Allowance (SRA) of the qualified public and private health workers, Assistance to Individuals in Crisis Situations Program and the Tulong Panghanap buhay sa Ating Disadvantaged/ Displaced Workers (Tupad). In the Senate, the NTF-Elcac budget was trimmed down from the proposed P28 billion to just P4 billion allegedly due to failure of the agency to provide Congress with detailed reports on the utilization of the P16billion budget for this year. Before transmitting the budget to the Senate, the House of Representatives has introduced a total of P65.5 billion, including P20 billion to buy vaccine booster shots, as institutional amendments to the

BSP…

2022 P5.024 trillion General Appropriations Bill.

DA budget boost

FOR his part, House Committee on Appropriations Senior Vice Chairman boosted Secretary William Dar’s request for an additional P12billion budget for the Department of Agriculture, citing the significance of the expanded programs in making the price of key commodities such as meat and vegetables “stable.” “Inflation is the next big enemy after we have defeated the prospect of a stagnant recovery. We need lower prices for meat and vegetables, and feeds and fertilizers will play an important role.” “As I said in a speech in February this year, when it comes to livestock prices, it’s all about feeds, feeds, feeds. And the DA is proposing increased spending in the corn development program. After supply issues in meat due to the African Swine Fever, and considering the reduced cost-competitiveness of our domestic meat industry, we need a strong feed sector,” he added. To address surmounting food and agriculture global challenges onto the “new world,” the DA is asking Congress for an additional P12-billion budget for 2022. In a letter to Senate President Vicente Sotto III and House Speaker Lord Allan Velasco, Dar said the country is in need of a “lifeline” to sustain its productivity and meet its food security needs. The department initially proposed a total of P231.7 billion to support the implementation of its programs, activities and projects. However, only P91 billion or 39.27 percent of the proposed amount was approved by the Department of Budget and Management.

Continued from A1

“We are also reviewing our investment strategy to consider strategic allocation of investments toward those that espouse environmental, social, and governance principles,” the governor said. The BSP earlier issued the Sustainable Finance Framework (SFF) and Environmental and Social Risk Management Framework (ESRMF) to set the groundwork for succeeding BSP policy issuances in sustainable finance. Released in April 2020, the SFF highlights overarching principles of integrating sustainability and environmental, social, and governance considerations in banks’ corporate and risk governance frameworks, business strategies and operations. Meanwhile, the ESRMF, released in October this year, gives more de-

tailed supervisory expectations on the management of environmental and social risks in the context of credit and operational risks. Earlier this month, Diokno said the BSP is set to issue more regulations particularly directed toward sustainability as the Central Bank pushes to streamline the so-called “green financing” in the country. According to Diokno, future regulations will be directed towards banks’ green investments, climate stress testing, prudential reporting, and potential regulatory incentives. “We view that banks can fully heed the call for action only when they have a clear and comprehensive understanding of the impact of environmental and social risks in their operations and business viability,” Diokno said.

Power index… This is measured in terms of estimated economic, defense and broad resources in 2030, as well as working-age population and labor dividend forecasts for 2050. The country ranked the lowest in Broad Resources 2030 at 18th overall. Broad resources performance is based on every country’s current ratio of GDP and military expenditure to their aggregate score for economic resources, military capability and resilience. The Philippines was ranked the highest in terms of demographic resources at 8th overall. However, the performance saw a 2-point decline in score. Based on this data, Lowy Institute says the working-age population baseline of the Philippines is 71 million in 2020—projected to increase to 96 million by 2050. Labor dividend between 2020 and

Continued from A1

2050 is expected to average $88.1 billion. “Labor dividend from gains in the working-age population [is] adjusted for quality of the work force and climate change resilience,” Lowy Institute explained. Based on the 2021 Power Index, the United States, which scored 82.2; China, 74.6; Japan, 38.7; India, 37.7; and Russia, 33 were the top five countries with the highest comprehensive power. The US and China are considered superpowers while Japan, India, and Russia are considered Middle powers. The middle power countries include those in the Asean-5, including the Philippines. The report showed minor powers or those at the bottom of the index were Brunei, Bangladesh, Sri Lanka, Myanmar, Cambodia, Laos, Mongolia, Nepal, and Papua New Guinea.

www.businessmirror.com.ph

The Nation BusinessMirror

Senator lists serious China threats for PHL in WPS tiff By Butch Fernandez @butchfBM

EN. Panfilo Lacson listed on Monday three serious threats posed by China in the West Philippine Sea (WPS), even as the lawmaker prodded the Duterte administration to enlist allied countries to press China’s compliance with an international court ruling upholding the Philippines territorial claims. “China’s creeping cross-border encroachments well within the West Philippine Sea territory pose serious threats on three fronts,” Lacson warned. “Not one or two, but three: national security, food security, and economic security.” The chairman of the Senate Committee on National Defense and Security aired the warning in a news statement, saying “These are the aspects of Philippine security that continue to be hit by China’s continued encroachment into our territorial waters in the West Philippine Sea.” Moreover, Lacson lamented “more often than not, we only think of national security when we hear of China’s encroachment into our territorial waters. It’s actually much more than that... It has a great effect not only on our national security because that much is obvious—but our food security and our economic security are greatly affected.” Presiding over a hearing of the Senate Committee on National Defense and Security, Lacson called on

the Duterte administration to take “more proactive efforts by the Philippines to urge the international community to exert pressure on China to comply with the arbitral ruling favoring the Philippines.” At the same time, the senator pressed his suggested option for maintaining “a balance of power in the region” with the Philippines “likeminded and militarily capable allies” referring to the United States, Australia and European Union, among others. Lacson proposed, “One course of action we can take is to appeal to the international community to exert whatever political pressure they can have on China to comply with the ruling. It cannot be sought by war especially in this day and age of modern technological warfare where nobody wins.” This as the committee tackled Lacson’s Senate Resolution 954 condemning China’s increasing intrusions into the Philippines’s territory and its exclusive economic zone (EEZ) in the WPS. Also in the agenda was Senate Bill 2289, which Lacson co-authored with Senate President Vicente Sotto III, defining the Philippines’s maritime areas. Moreover, the senator noted fish production in the Philippines amounted to 4.36 million tons valued at P265 billion in 2018, while 1.9 million fisherfolk depended on fishing for their livelihood, with fishing accounting for P181.1 billion, or 29.1 percent of the ocean-based activities Gross Value Added in 2018.

Editor: Vittorio V. Vitug • Tuesday, December 7, 2021 A3

Gunmen shoot 2 mayors in Zambo City–one dead, the other injured

OUR motorcycle-riding gunmen shot on Monday two municipal mayors of the province of Basilan in Zamboanga City, killing one of them, police said.

An initial report sent to Camp Crame by the Police Regional Office-9 identified the victims as Alih Awal Sali, mayor of Akbar, and Darussalam Saguindilan Lajid, mayor of Al-Barka, both in Basilan. The report said the two mayors were walking toward a mosque at Seaside, Barangay Baliwasan, Zamboanga City when the four suspects armed with .45 caliber pistols appeared and shot them at about 8:31 a.m. The suspects fled toward the inner

portion of the seaside after the incident while the victims were brought to Brent hospital and Ciudad Medical Zamboanga, but Lajid was pronounced dead upon arrival at the medical facility. A driver-bodyguard of Lajid also reportedly died during the ambush. Sali, on the other hand, is in critical condition. Checkpoints were put up to possibly arrest the suspects while neighboring provinces have been alerted about the incident. Rene Acosta

POLICEMEN check the crime scene at the seaside in Barangay Baliwasan, Zamboanga City, where a shooting incident occurred on Monday, December 6, 2021, resulting in the death of two persons, including Mayor Darussalam Lajid of Al-Barka, Basilan and his driver. PNA/ELY E. DUMABOC

PNP starts probe into bombings of NGCP towers in Lanao del Sur

HE Philippine National Police is thoroughly investigating the series of bombings that damaged a tower of the National Grid Corporation of the Philippines (NGCP) last week in Lanao del Sur. T he deeper probe was an-

nounced by PNP chief General Dionardo Carlos during a news briefing on Monday, adding security operations were also ongoing in areas where transmission lines are located in the province. “A deeper investigation is under

way by PRO-BAR [Police Regional Office-Bangsamoro Autonomous Region] to establish the circumstances surrounding a series of deliberate explosions that damaged an unenergized transmission tower of the National Grid Corp. of the Philip-

pines in Maguing, Lanao del Sur last December 2,” Carlos said. “The investigation will focus on establishing the motive and identifying the persons behind these acts of sabotage of public utilities,” he added.

Rene Acosta

A4 Tuesday, December 7, 2021 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Leechiu: PHL office take-up surges in Q4 By VG Cabuag

@Villygc

HILIPPINE office take-up surged in the last quarter of the year, but were just 38 percent higher than the previous year, Leechiu Property Consultants Inc. said. Demand year-to-date reached 539,000 square meters, some 38

percent higher than last year’s 389,000 square meters, but way far from 1.7 million office space taken up in 2019. Office demand levels driven by sustained take-ups from IT-business process management firms would have been higher had it not been for mobility issues brought about by the third quarter lock-

downs, according to the company’s CEO David Leechiu. “Even at the height of the pandemic in 2020, IT-BPMs took up space. We foresee that they will remain a catalyst of the office segment for as long as outsourcing remains a viable solution for recovering firms in the West,” he said. The Leechiu study projected that

for the fourth quarter of the year, take ups from the BPO sector will reach at least 54,000 square meters of office space. It also projected that total 2021 demand from this category by year-end would register at 229,000 square meters. “We are pleased to be seeing new brands from among the captives

Cheaper fuel pump prices starting today

IL firms will slash fuel pump prices this week by more than P2 per liter. They said on Monday that a new round of oil price rollback takes effect Tuesday morning. Gasoline prices will be reduced by P2.40 per liter, diesel by P2.65 per liter and kerosene by P2.70 per liter.

Seaoil, PTT Philippines, Pilipinas Shell and Caltex said they would implement the price rollback at 6 a.m. of Tuesday, December 7. Cleanfuel will adjust its prices at 8:01 am. Other oil firms have yet to make an announcement as of 4 p.m. The downward price adjustment comes after international oil prices decreased week-onweek by almost $2.30 per barrel. MOPS gaso-

line and MOPS diesel have also decreased by nearly $5.30 per barrel and $2.90 per barrel, respectively, according to the latest oil monitoring data of the Department of Energy (DOE). Last week, oil companies implemented a price cut of P1.10 per liter for gasoline, P0.60 per liter for diesel and P0.50 per liter for kerosene. These resulted to the year-to-date adjustments to stand at a total net increase of P18.10/liter for gasoline, P15.70/liter for diesel and P13.19/liter for kerosene. Lenie Lectura

looking to offshore and outsource to the country,” Leechiu said. Office space demand from the BPO sector has been erratic this year as a result of a series of lockdowns implemented by the government. Other than BPOs, online retail companies or e-commerce will continue to drive growth and expand both office and industrial require-

ments, the company said. It also noted surging demand for industrial and warehousing to meet logistics requirements. “In all likelihood, most companies will slowly ease back to the business districts while maintaining a portion of their operations on a workfrom-home basis, This will give rise to hybrid operations,” it said.

BI prepares for influx of arrival of Holiday season passengers

ESPITE the emergence of Covid-19 Omicron variant, designated as a new variant of concern by the World Health Organization (WHO), the Bureau of Immigration said it remains optimistic that the number of arriving passengers would continue to increase for the holiday season. In a news statement, Bureau of Immigration (BI) Commissioner Jaime Morente noted that 85 percent of arrivals during the first day of December were Filipinos, mostly overseas Filipino workers and balikbayans. “Of the more than 6,000 arrivals during the first day of December, majority are Filipinos. While the numbers remain relatively low, we expect it to slowly rise as we near Christmas and New Year,” he said. A total of 152,000 passengers arrived in the country during the entire month of December last year. “We see that domestic travel is, little by little, bouncing back, and we see the same coming soon for the international travel sector,” Morente noted. Morente assured that the agency has put in

place several measures to meet the expected influx of arrivals in the coming days. The BI noted that Filipino passengers may now pass through the e-gates installed at the immigration arrival areas of all three terminals of the Ninoy Aquino International Airport (Naia) and at the Clark International Airport (CIA) in Pampanga, which prioritize arriving OFWs. Morente earlier ordered the reopening of the e-gates in time for the Christmas holiday break when an influx of international travelers is anticipated. The e-gates were relaunched as part of the measures to speed up immigration processing for returning Filipinos. The BI earlier said that the e-gates cut the processing time for passengers from the present 45 seconds to as low as eight seconds. Launched in August 2018, the BI’s egates were in operation until March 2020 when the Covid-19 pandemic hit countries around the world, including the Philippines, prompting the agency to suspend the scheme. Joel R. San Juan

The knowledge society

By Henry J. Schumacher

LL countries and peoples are changing rapidly—as the market economy, democratic politics, and the international millennial’s culture spread all over the world. In the process called “globalization” American management thinker Peter Drucker, memorably described this emerging social organization as the “knowledge society.” By this Drucker meant that— in our world today—knowledge has become the basic human resource. Nowadays, value is created not so much by capitalists, workers, and natural resources, as by productivity and innovation—both of which are the application of knowledge to work. Today, value is created primarily by intelligence —creativity—and inventiveness. The new tribe are “knowledge workers”— individuals who know how to allocate knowledge to productive use. And, for both individuals and nations, education—the systematic acquisition of knowledge—has become the ultimate ladder to opportunity! Globalization will speed up the flow of technical and scientific knowledge from the developed to the less-developed countries. Education must work to close the gap in learning between those two types of countries. In other words, globalization will intensify and broaden every country’s need to educate all its people. No longer will it suffice to educate a tiny elite that will then manage and direct the politics, the economy, and the culture of the many. Development will require not only a corps of highly skilled individuals capable

of absorbing advance technology; it will also require a minimum of scientific literacy and technological skill; it will also need the setting of professional standards, the delineation of fields of expertise, and theorganizationofcommunitiesofknowledge. Education can no longer afford to leave anybody behind. All young people— whether they go to college or not—will need a similar set of core competencies if they are to succeed in today’s labor markets. Government, the private sector and civil society have to work closely together to save the children. Ramon del Rosario Jr., chairman of the Philippine Business for Education (PBED) found the right words: “It’s the private sector that is creating the jobs. But government has to create an enabling environment for the jobs to be created!” If the Philippines is to survive in the ever-changing, fast moving, technologydriven world taking shape before our eyes, the country has to position itself strategically in this new economy. The end-effort must be to secure the Philippines’s place on the right side of the digital divide the revolutions in communications, information, and computer technologies are creating. This requires a work-class work force, something that the ICT and creative industries have been asking for. And because knowledge has become the modern economy’s central resource, we must keep in mind continuous learning has become essential. So swift is the generation and transmission of knowledge that learning has become a life-long process for every one of us. On the industry side, we are already seeing moves from sectors that will be significantly affected by the adoption of artificial intelligence such as high tech and telecom, financial services, manufacturing, transportation and logistics, health care and education. The Asian Development Bank anticipates that a quarter of jobs in outsourcing and electronics will be lost due to automation, but this loss will be offset by new roles within those industries. Let’s also bear in mind that digitalization means that new skills and capabilities are needed, and companies must provide the appropriate programs and training for their employees to remain competitive. Feedback would be highly appreciated; if specialized training is needed for your employees, let me know—contact me at hjschumacher59@gmail.com

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Salceda urges DTI to finish SIPP under CREATE Act

O “end the uncertainty” over foreign direct investments (FDI), the chairman of the House Committee on Ways and Means on Monday urged the Department of Trade and Industry (DTI) to finish the Strategic Investment Priorities Plan (SIPP) mandated under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. During the ways and means committee hearing, Albay Rep. Jose Salceda said DTI should finish SIPP before March 2022, the first anniversary of the measure. “As a result of not having the SIPP finished, industries are still unsure about the tax incentives they will receive in the country…we are losing too much to Vietnam, Thailand, Malaysia,” said Salceda. “Let’s make this law work. The deadline I will insist upon, when it comes to issuing the SIPP, is March 2022. Otherwise, I will be forced to call oversight hearings,” he warned. For her part, Finance Director Juvy Danofrata informed the panel that 265 projects with a total investment capital of P31.02 billion were granted tax incentives by the Investment Promotion Agency (IPA) as of October 31, 2021. The SIPP is the list of industries eligible for tax incentives under the CREATE Act. Salceda suggested to the Department of Finance and DTI’s Board of Investment (BOI) to study the creation of a negative list. Jovee Marie N. Dela Cruz

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PHL keeps luster as investment destination for Japanese medical devices, products–BOI By Cai U. Ordinario @caiordinario

HE Philippines remains to be a preferred destination for Japan-based manufacturers, particularly those engaged in the production of medical devices and products, according to the Philippine Board of Investments (BOI). The BOI recently welcomed a high turnout of participants in a recent Medical Devices Industry Webinar for Japanese investors. The webinar discussed doing business in the Philippines. BOI Governor Angelica Cayas also shared opportunities in the medical devices industry under the country’s new reformed tax system through the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.

“It is a major game changer for investors in the Philippines since it rationalizes, modernizes, and offers more incentives,” Cayas said during the webinar. “As the Philippine economic situation continues to improve, we hope that you will look at our country more closely as a valuable contributor to your global business growth,” she added. BOI-Manufacturing Industries Service (MIS) Director Evariste Cagatan also encouraged Japanese companies to look at the opportunities in investing in the country’s medical devices industry. She shared the medical products that are currently being produced and exported by the Philippines, such as syringes, ventilators, IR thermometers, and personal protective equipment (PPE), to name a few.

Cagatan added that several of the world-class medical devices companies in the country are Japanese such as Arkray, Terumo, JMS Healthcare, Atomed, Yokoisada, and Tokai Medical Products. “With a world-class electronics industry, abundance in intellectual talent, ready access to key markets, and ultra-cost efficiencies, the Philippines is where design, development, and manufacture of medical devices go hand-in-hand with profitability serving international and rapidly growing markets,” she said. One of these companies provided a testimonial in doing business in the Philippines. Finding success in the country, Terumo Philippines Corporation (TPC) President Toshiyuki Akaike shared the company’s operations and experiences. Akaike said the company’s con-

tinued growth in the Philippines may be attributed to our highly proficient talent pool, cost-competitive labor rate, generous investment incentives, and continued support of the government. “Starting its operations in June 2000, Terumo Philippines has been producing and offering high quality medical devices in the country for more than 20 years now. Currently, we have 3,000 employees in our factory in Laguna Technopark,” Akaike said. Philippine Commercial Counselor to Osaka, Emmanuel Ang explained that Japan is the thirdlargest market in the world in terms of medical expenditure. It is complemented by the Kansai Region’s strong presence in medical devices manufacturing and life sciences industries in general. “The region accounts for around

30 percent of Japan’s total non-pharmaceutical medical products manufacturing, and hosts a large cluster of biomedical-related university and industry research institutions for medical devices as well as 16 percent of all the Japanese companies engaged in medical-related manufacturing,” he said. The virtual event was jointly organized by the Philippine Trade and Investment Center in Osaka (PTICOsaka), the Philippine Consulate General (PCG) in Osaka, the Osaka Chamber of Commerce and Industry (OCCI), and the Philippine Board of Investments (BOI). The event apprised Kansai-based companies with the latest information on doing business in the Philippines and opportunities in the medical devices industry under the country’s new reformed tax system.

House approves mandatory SIM registration bill on final reading

O help law enforcement agencies in tracking down criminals who use mobile phones in their nefarious activities, the House of Representatives on Monday approved on third and final reading the proposed Subscriber Identity Module (SIM) Card Registration Act. Voting 181 affirmative, 6 negative and 0 abstention, lawmakers

passed House Bill 5793, requiring the registration of SIM cards. A priority bill of the Duterte administration, the proposed law seeks to deter the commission of illegal activities using unregistered mobile SIM cards. The measure establishes a system of sale and registration of SIM card for all users by registering pertinent

data in a registration form. It also provides for mandatory registration of end users who are foreign nationals. The bill mandates all public telecommunication entities and direct sellers of SIM cards to establish a register and submit the same to the Department of Information and Communications Technology.

The measure also provides for a confidentiality clause that prohibits the disclosure of any information of the subscriber, unless through subpoena or lawful order from a competent court or written request from law enforcement agencies in relation to an ongoing investigation that a particular number requested was used in the commission of a crime.

It mandates the registration of existing prepaid SIM card phone subscriber, the failure to comply therewith within the prescribed period shall authorize the public telecommunication entities to automatically deactivate its services to the specific existing prepaid SIM card subscriber. Jovee Marie N. Dela Cruz

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DepEd cautiously opens in-person classes in some NCR schools amid Omicron threat By Claudeth Mocon-Ciriaco @claudethmc3

S the pilot run of the face-toface (F-to-F) classes of the additional 117 schools, including 28 from the National Capital Region (NCR), started on Monday, an official of the Department of Education (DepEd) assured that they are constantly coordinating with the Department of Health (DOH) amid the reported creeping spread of Covid-19 Omicron variant in other countries. “Our existing protocols are sufficient based on [the] existing situation,” DepEd Undersecretary Nepomuceno Malaluan, said adding that if there would be changes, “we anticipate that it will figure in the alert

level system or change in the health and safety standards.” The DepEd said that over 2,000 learners joined Monday’s pilot run. In the NCR, 28 public schools— two in each cities of Manila, Caloocan, Mandaluyong, Marikina, Muntinlupa, Navotas, Parañaque, Pasig, Taguig, Valenzuela, Las Piñas, and Quezon City. The cities of San Juan, Pasay, Malabon, and Makati will have one school each. The 117 schools are on top of the 118 schools, which joined the pilot run in November. In San Juan City, Mayor Francis Zamora said that the pilot run in Pedro Cruz Elementary School included students from Kinder to

Grade 3 who were given consent by their parents to go back to in person classes again. The students were chosen based on a survey ran by the school administration. Zamora said that Pedro Cruz Elementary School was chosen because it is one of the schools that was tagged as “low-risk” by DepEd. “This is a huge progress from where we were last year. Online schooling can only do so much, even if we have provided all our students with tablets, laptops, and internet connection, I believe that the children can learn better when they are guided physically by their teachers,” Zamora said. “Some lessons can get lost in translation and not all kids may have a conducive learning en-

vironment at home,” he added. Toensure thestudents’ safety,classes will only last for 3 hours for Kinder, and four hours for grades 1 to 3. There will also be a 15-minute interval for students to enter the school premises to prevent crowding at the school gate. Minimum public health and safety protocols were strictly observed. Children were seated at a safe distance from each other and were required to wear face masks at all times and to wash and sanitize their hands if needed. Based on the partial result of the weekly school reporting on the limited F-to-F classes as of November 24, there were 4,537 learners in Kinder to Grade 3 and Grade 11 to 12 who attended the first week of the pilot run.

Despite bigger tax allocation Carpio: China warships for LGUs in 2022, complete pass through Balabac devolution ‘unlikely’ Strait sans notice to PHL

ILL complete devolution or transfer of powers to the local governments happen in 2022? This was the question discussed by local governance experts at a webinar organized by the University of the Philippines Diliman on November 26. The prospect of complete devolution arises from two policies that will come into effect next year. Starting in 2022, the Supreme Court’s Mandanas ruling will require local government units (LGUs) to receive 40 percent of most national taxes (beyond the current practice of getting only from the internal revenue allotment or IRA). In exchange, however, local governments will also shoulder the responsibilty over public services to be devolved under Executive Order No. 138 issued on June 1, 2021. According to UP Economics Professor Joseph Capuno, as the incomes of local governments from the national tax allotment or NTA increase next year, their responsibilities and expenditures will also increase. “All types of local governments will have greater expenditures for social services, including health services,” said Capuno at the UP #PILIpiLUNAS2022 webinar. “Municipalities will have greater expenditures than cities or provinces.” Dr. Alex Brillantes noted that the problem of scarcity of resources will continue to plague LGUs due to the fragmentation

of districts, rendering many of the barangays unsustainable. “Are they more effective as administrative rather than political units? There’s a lot of divisiveness, a lot of politics and corruption there” said Brillantes, a professor at the UP National College of Public Administration and Governance. Meanwhile, UP Political Science Professor Maria Ela Atienza said that despite thirty years after the enactment of the Local Government Code, there are still wide disparities in local government’s performance across the country. “Performance is affected by limitations in the Code and the electoral system,” said Atienza, “as well as the disparity in the quality of local leadership and personnel quality, local civil society presence, and citizen’s awareness and participation; ability to generate local resources; and persistence of political patronage, clans, corruption, and national executive dominance.” She also proposed to include reforming the party system, strengthening regional development councils, and banning political dynasties. #PILIpiLUNAS 2022 is a webinar series organized by the UPD Office of the Chancellor, to present researchbased policy recommendations for a governance agenda in the 2022 national elections and beyond. The series will run from August 2021 to March 2022.

By Malou Talosig-Bartolome

HINESE warships are passing through the Balabac Strait at the south of Palawan without giving prior notice to the Philippine government, former Supreme Court Associate Justice Antonio Carpio revealed. In the same way, Carpio said, United States submarines refuse to surface every time they pass through Philippine archipelagic waters. The former SC justice made these comments as one of the resource persons during the virtual public hearing held by the Senate Foreign Relations Committee on Monday. The committee is drafting a bill to define the maritime zones of the Philippines, in compliance with the country’s obligations under the United Nations Convention on the Law of the Sea (Unclos). Unclos is the set of rules for the international community to follow when it comes to conducting activities at sea, including military, economic and environmental protection. It has been the anchor of Philippine claims in asserting its sovereign, territorial and maritime rights over the West Philippine Sea. Carpio was reacting to the Senate Bill No. 2459 filed by Sen. Aquilino “Koko” Pimentel III on the right of

innocent passage. “I suggest that we add reciprocity [on innocent passage],” Carpio said. “I noticed that China, whenever our ships pass through their area, they require prior notice from their warships. But when they pass through our territorial sea on innocent passage, they do not give us prior notice...” “Every time Chinese warships passes through the Balabac Strait, they do not notify us. But they require us to notify them when we pass through their territorial sea,” Carpio said. Carpio also suggested that the senators include in the maritime zones bill to require all warships of foreign countries passing through the archipelagic waters to turn on their Automatic Identification System (AIS). The AIS is the transceivers on ships that allow maritime authorities to track their movement at sea. He cited Chinese warships which also turn off their AIS whenever they pass through the Balabac Strait. Carpio also suggested that submarines passing through archipelagic waters must “surface” and not travel underwater. “They must show themselves. The Americans don’t want to surface. They must surface if they want to exercise innocent passage,” he added.

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New Palace EO to hasten completion of OFW hospital in Pampanga–DOLE exec By Samuel P. Medenilla @sam_medenilla

HE delay in the construction of the first-ever overseas Filipino worker (OFW) hospital will soon finally be addressed with President Duterte’s recent signing of a new executive order, according to the Department of Labor and Employment (DOLE). At a virtual news briefing on Monday, Labor Undersecretary Renato L. Ebarle said they are now just waiting for the official release of the new executive order, which would allow them to start the bidding process for the medical equipment to be used for the medical facility. He said they got word over the weekend from Sen. Christopher Lawrence “Bong” T. Go that the issuance was already signed by the President. As of of this writing, the Malacañang’s Records Office has yet to receive the copy of the said “signed” executive order. Ebarle explained they were not able to immediately start the bidding process for the medical equipment

using the P200 million donation from Philippine Amusement and Gaming Corp. (Pagcor) for the said purpose due to legal issues. “But with that [EO], we can start the procurement process,” Ebarle said. The labor official said currently the construction of the 6-storey hospital in San Fernando, Pampanga is still only 49 percent complete due to the deferred procurement. “The construction slowed down because the contractor wanted us to submit to them what kind of equipment [will be installed] so they could design the dimensions of the building,” Ebarle said. The OFW Hospital was initially set to be inaugurated by the end of the quarter of the year. Ebarle said they are now targeting to complete it by March or April next year before the 2022 elections. “We can be sure that it will be completed under the administration of President Duterte because the President does not want any project which was started in his term to be left incomplete,” Ebarle said.

New Covid variant hunt: DOH scrambles to find 8 more travelers from South Africa

HE Department of Health (DOH), reiterating that there’s still yet no reported case of the Covid-19 Omicron variant, on Monday said the agency is still tracing the whereabouts of eight more travelers from South Africa who arrived in the Philippines between November 15 and 29. Health Undersecretary Maria Rosario Vergeire said that the eight travelers being located are part of the 253 travelers from South Africa where the more transmissible variant with multiple mutations was traced. To date, 80 travelers have been located, three of whom are foreign nationals and 77 were returning overseas Filipinos. Meanwhile, 165 more travelers are currently being verified. Vergeire also said that they are awaiting the result of 12 samples, including one from South Africa, which are expected to be released by the Philippine Genome Center (PGC) either on Tuesday afternoon or Wednesday. However, she admitted that Omicron may still enter the country and the government’s response is to buy time “to prepare our system.” “Hindi natin sinasabi [We are not

saying] it will not enter the country but when it would enter the country,” Vergeire said but appealed to the public not to panic and instead get themselves vaccinated. Vergeire said that most of the detection in the latest whole genome sequence run conducted by the PGC as of December 6 was that of the Delta variant. Of the 629 samples sequenced, 90.78 percent or 571 were positive from Delta variant (B.1.617.2; Indian lineage), 0.16 percent (1) of samples were positive for the Beta variant (B.1.351; South African lineage), and 0.16 percent (1) were positive from the Alpha variant (B.1.1.7; UK lineage). “Delta variant is the most common lineage comprising 40.54 percent nationally among sequenced samples. Once detected in a region, it becomes the more common lineage,” Vergeire said. The Beta variant comprises 18.75 percent among all samples sequenced, making it the second most common lineage, 16.36 percent or 3,168 samples positive for the Alpha variant, and 0.02 percent or three samples positive for the Gamma variant. Claudeth Mocon-Ciriaco

Nurses’ party-list group slams Comelec delisting

HE Nurses United (NU) party-list slammed on Tuesday the Commission on Elections (Comelec) after poll body junked its petition for accreditation to join the 2022 polls. In a news statement, the group representing nurses expressed dismay over the decision of Comelec, which it said deprived genuine representation of a marginalized sector in Congress. “They let down the hundreds of health-care workers and millions of patients, who are looking forward to better national healthcare,” NU said. The group issued their statement after the Comelec released last week a resolution containing the list of party list groups, which would be allowed to participate in the raffle on Friday to determine their placement in the 2022 election ballot. NU was among the 107 party list groups, which were not allowed to join the raffle after Comelec denied their petitions for registration. To note, the Comelec questioned the composition of the majority of the NU membership, which the poll body said do not belong from

INDIGNANT members of the Nurses United party-list throw rotten tomatoes on Monday to a mock seal of the Commission on Elections (Comelec) to dramatize their protest over the purge of their group from official list of party-lists joining the May 2022 elections in front of the Comelec office at the Palacio del Gobernador in Intramuros, Manila. ROY DOMINGO

the sector they want to represent. NU said Comelec denied their petition for accreditation even after they submitted documentary proof that their members do in fact come from the health-care sector.

“Comelec did not give any formal reason to Nurses United party-List why it was not allowed to run in the upcoming polls,” the group said. NU decried how Comelec continued to allow the misuse of the

party-list system by “traditional politicians” as a “backdoor” to get another term in Congress and at the same time barring “legitimate” marginalized group representation. Samuel P. Medenilla

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DAR installs Capiz ARBs

HE Department of Agrarian Reform (DAR) has finally installed 175 agrarian reform beneficiaries (ARBs) at a CARP-cov-

ered land formerly owned by landowner Nemesio Tan in the province of Capiz. The installation of the ARBs

is the final and last step in the land-acquisition and distribut ion compone nt of C A R P or Comprehensive Agrarian Reform

Tuesday, December 7, 2021 A7 Program wherein the ARBs take physical possession of the awarded lands. The Philippine National Police

(PNP) and the Armed Forces of the Philippines (AFP) assisted the installation of the ARBs. Jonathan L. Mayuga

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Tuesday, December 7, 2021

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

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 WANG, SHAN Mandarin Field Marketing Officer 1.

Brief Job Description: Plan, organize and execute marketing and sales programs CUI, JIANBO Mandarin Site Technical Officer

Brief Job Description: Diagnosing equipment malfunctions and performing repairs

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

16.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LIU, BAODI Customer Service Representative Brief Job Description: Customer Service Representative

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

17.

WANG, QINGSONG Customer Service Representative Brief Job Description: Customer service representative

ASCENT DEVELOPMENT CONSTRUCTION INC. 5th Floor Strata 100 Bldg., F. Ortigas Jr. Ave. Ortigas Center, San Antonio, City Of Pasig LEE, YOUNGBEOM Quality Assurance Manager 3.

Brief Job Description: Create quality measurements to track improvement in products

Basic Qualification: At least with 5 years experience in relevant industries, bachelors degree graduate

18.

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

BANK OF CHINA (HONG KONG) LIMITED - MANILA BRANCH G/f, 2/f, 28/f, West Retail The Finance Centreblock 55 Lot 1 & 2, 26th St. Cor 9th Ave. Bonifacio Global City, Fort Bonifacio, City Of Taguig

CHEN, KE Relationship Manager - Global Corporate Banking Department Brief Job Description: Generates revenue growth & account profitability of the company

Basic Qualification: Proficient in both Mandarin/English

Brief Job Description: Delivering excellent customer service and managing the needs of customers through phone calls and emails. ONG CHAI KEONG Mandarin Customer Service Representative

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

Basic Qualification: College Graduate Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate

10.

11.

12.

13.

14.

15.

Brief Job Description: Customer Service Representative

CHEN, JUN Customer Service Representative Brief Job Description: Customer Service Representative

CHEN, YANSONG Customer Service Representative Brief Job Description: Customer Service Representative

DAI, WEILONG Customer Service Representative Brief Job Description: Customer Service Representative

GU, CHANGHONG Customer Service Representative Brief Job Description: Customer Service Representative

GUO, LUYANG Customer Service Representative Brief Job Description: Customer Service Representative

HONG, FUFENG Customer Service Representative Brief Job Description: Customer Service Representative

HUANG, DING Customer Service Representative Brief Job Description: Customer Service Representative

HUANG, YU Customer Service Representative Brief Job Description: Customer Service Representative

20.

ZHANG, NANER Customer Service Representative Brief Job Description: Customer service representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters

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

Brief Job Description: Shape and integrate functional strategies; ensure people growth

WANG, CHENG Mandarin Speaking Computer Support Specialist 22.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High school graduate in Chinese. Can speak and write fluent Chinese Mandarin. Can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High school graduate in Chinese. Can speak and write fluent Chinese Mandarin. Can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999

CHEN, YIYONG Web Developer 30.

31.

Basic Qualification: At least 10 years of combined leadership experience in the various facets of animal health business; at least 3 years of experience in managing a business unit or function

Brief Job Description: Investigate user problems and prepare reports for developers.

Basic Qualification: Excellent speaking, writing and reading in Chinese

23.

YAN, YAOHUI Mandarin Site Technical Officer Brief Job Description: Reporting Urgent Maintenance and Repair Tasks

32.

33.

24.

Brief Job Description: Customer service in a remittance company

34.

DENG, SHUANG Area Manager 25.

Brief Job Description: Provide training and development for staff, ensuring quality consistency across the region and increasing sales and profitability in their region

ZHANG, SHUJIE Product Manager 26.

Brief Job Description: Identifying the customer need and the larger business objectives that a product or feature will fulfill.

CHEN, YUNQIANG Talent Acquisition Specialist 27.

Brief Job Description: Sourcing, attracting, interviewing, hiring and on boarding employees

Basic Qualification: Job-relevant degree / 5-10 years supervisory / managerial experience in logistics or operations / multilingual

35.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Job-relevant degree / 5-10 years supervisory / managerial experience in logistics or operations / multilingual Salary Range: Php 60,000 - Php 89,999

FLY ASIAN INTERNATIONAL CORPORATION Eighty One Newport Blvd., Newport City, Va, Brgy. 183, Pasay City CHEONG WEI LUN Marketing Consultant (mandarin Speaking Clients) 28.

Brief Job Description: *Studying company profile and operations to understand its marketing needs. * Implementing a marketing strategy according to objectives and budget.

Basic Qualification: *Preferably 6 months experience with the above position. *Can multi-task and keen to details. *Any nationality who can speak and write Chinese fluently.

36.

HUANG, JIANHONG Chinese Finance Supervisor 29.

Brief Job Description: Oversees the collection and analysis of financial information for an organization

Basic Qualification: Bachelors degree in any related field Salary Range: Php 30,000 - Php 59,999

Brief Job Description: The IT Support Specialist (ITSS) is an integral member of the company infrastructure, Application Support, and of the IT Division and is responsible for providing quality IT support of enterprise systems throughout the Chinese clientele.

37.

38.

39.

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

Basic Qualification: Must be appointed by the company Salary Range: Php 90,000 - Php 149,999

Basic Qualification: A Chinese and fluent in Chinese writing and speaking language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language Salary Range: Php 30,000 - Php 59,999

JDB MANAGEMENT AND CONSULTANCY CORP. 107 T & D House, Magallanes St., 069, Bgy. 655, Intramuros, City Of Manila TIAN, HAILONG Strategic And Facilitation Officer 40.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company WU, JINGWEI Strategic And Facilitation Officer

41.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company ZHANG, ZHANKUI Strategic And Facilitation Officer

42.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company

Basic Qualification: Must be fluent in Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be fluent in Chinese Language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Must be fluent in Chinese Language Salary Range: Php 30,000 - Php 59,999

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

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

FUJIAN ELECTRIC POWER ENGINEERING COMPANY 5 West, Lawin, Phil-am 1, Quezon City

TRAN MANH TOAN IT Support Specialist

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Job-relevant degree / 5-10 years supervisory / managerial experience in logistics or operations / multilingual

TRAN CHI CUONG IT Support Specialist

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

FLASH EXPRESS SOFTWARE (PH) CO., LTD. INC. 9th Flr. Arthaland Century Pacific Tower, 5th Avenue 30th Street Cor. 4th Avenue, Fort Bonifacio, City Of Taguig

Brief Job Description: The Chinese IT Support Specialist (CITSS) is an integral member of the company infrastructure. Application Support and of the IT Division and is responsible for providing quality IT support of enterprises systems throughout the Chinese clients.

HOANG THI NGOC IT Support Specialist

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

Basic Qualification: Vast knowledge and experience in customer service

Brief Job Description: Over-all management of operation

BUI THI MINH THU IT Support Specialist

ETRANSS REMITTANCE INTERNATIONAL CORP. G/f Jx Tower Block 2 Lot 17 Fuentes Cor. San Pedro Street, Aseana, Tambo, City Of Parañaque ZHONG, YI Customer Service Representative

VAN STRATEN, JEROEN HENDRIKUS General Manager

HONG, YUHAO Chinese IT Support Specialist

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

Basic Qualification: Proficient in Speaking, Reading and Writing in Mandarin

Brief Job Description: Quality-test and Troubleshoot website its applications in various browser

Basic Qualification: Bachelor’s degree in web development or related field, relevant experience

ITECHNO SPECIALIST INC. 24/f Yuchengco Tower I, Rcbc Plaza, Bel-air, City Of Makati

Basic Qualification: High school graduate in Chinese. Can speak and write fluent Chinese Mandarin. Can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE

INDOOR AIR QUALITY PHILIPPINES INC. 5th Flr. Ignacia Place, 62 Sgt. Esguerra, 4, South Triangle, Quezon City

Basic Qualification: High school graduate in Chinese. Can speak and write fluent Chinese Mandarin. Can operate Mandarin characters Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

HJ WEB SOFTWARE DEVELOPER INCORPORATED Unit 207, Heritage Condominium, 1851 Antonio Vasquez St., 076, Bgy. 697, Malate, City Of Manila

ECHOTECH SERVICES INC. 18/f Philamlife Tower, 8767 Paseo De Roxas, Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters

Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters

No.

DIGIVIRTUAL TECH CORPORATION 7/f Ba Lepanto Bldg., 8747 Paseo De Roxas, Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters

QUALIFICATION AND SALARY RANGE

Salary Range: Php 500,000 and above

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters

Brief Job Description: Customer service representative

SUNG, SUK JE Head Of Animal Health 21.

Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters

ZHAO, QINGBIN Customer Service Representative

ESTABLISHMENT / ADDRESS

BOEHRINGER INGELHEIM ANIMAL HEALTH PHILIPPINES, INC. 23/f Citibank Tower, 8741 Paseo De Roxas, Bel-air, City Of Makati

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

BILLION DRAGON OUTSOURCE PHILS., INC. 3/f, Ayala Mall Southpark, Alabang, City Of Muntinlupa CAO, TING Customer Service Representative

Brief Job Description: Customer service representative

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

BAOLONG TECHNOLOGY INDUSTRY GROUP LIMITED INC. 24th-27th/f Century Diamond Tower, Kalayaan Ave. Cor. Salamanca St., Poblacion, City Of Makati JIN, XIULING Mandarin Customer Service Representative

19.

YANG, CHUNJUN Customer Service Representative

www.businessmirror.com.ph

ZHENG, DONGLIAN Mandarin Purchasing Coordinator 43.

Brief Job Description: Coordinate with the supervisor and provide support to all product research program and assist to obtain all required approvals and maintain all spreadsheets and evaluate

Basic Qualification: Fluent in Mandarin and English language both in written and verbal. Must familiar in expert planning and administrative writing and reporting skills Salary Range: Php 30,000 - Php 59,999

BusinessMirror

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ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

JIHUA GROUP LTD. CORPORATION Unit No. U-11a&11e Flr., No. 6/f Eighty One Newport Blvd. Bldg., Newport Blvd. Vab St., Barangay 183, Pasay City Basic Qualification: Able to speak Chinese XU, YIZHONG and English fluently. / E-commerce Consultant (mandarin Speaking) knowledgeable in computer 44. applications. / good at Brief Job Description: strategizing. Provide suggestions to clients. Salary Range: Php 30,000 - Php 59,999 JVD GLOBAL CONSULTANCY INC. L2 Ayala Circuit Mall, Circuit Makati, A.p. Reyes Ave., Carmona, City Of Makati Basic Qualification: With at least 6 months ROY, BISHWAJYOTI experience in the said Head Customer Support field With good oral and communication skills, Brief Job Description: specifically English language 45. Will be in-charge of helping the customers with Knowledgeable in basic complaints and questions, give customers information computer applications and about products and services, take orders, and process softwares returns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months ASYER MISAEL MEWENGKANG experience in the said Indonesian Customer Support field With good oral and communication skills, Brief Job Description: specifically English language 46. Will be in-charge of helping the customers with Knowledgeable in basic complaints and questions, give customers information computer applications and about products and services, take orders, and process softwares returns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months MARIO JOHANES KORENGKENG experience in the said Indonesian Customer Support field With good oral and communication skills, Brief Job Description: specifically English language 47. Will be in-charge of helping the customers with Knowledgeable in basic complaints and questions, give customers information computer applications and about products and services, take orders, and process softwares returns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months CHANKITTIMA, RATTANA experience in the said Thai Customer Support field With good oral and communication skills, Brief Job Description: specifically English language 48. Will be in-charge of helping the customers with Knowledgeable in basic complaints and questions, give customers information computer applications and about products and services, take orders, and process softwares returns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months SUKCHALOEM, SURIWIPA experience in the said Thai Customer Support field With good oral and communication skills, Brief Job Description: specifically English language 49. Will be in-charge of helping the customers with Knowledgeable in basic complaints and questions, give customers information computer applications and about products and services, take orders, and process softwares returns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months NGUYEN HOANG THANH TRUC experience in the said Vietnamese Customer Support field With good oral and communication skills, Brief Job Description: specifically English language 50. Will be in-charge of helping the customers with Knowledgeable in basic complaints and questions, give customers information computer applications and about products and services, take orders, and process softwares returns. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months NGUYEN NHAT PHUOC experience in the said Vietnamese Customer Support field With good oral and communication skills, Brief Job Description: specifically English language 51. Will be in-charge of helping the customers with Knowledgeable in basic complaints and questions, give customers information computer applications and about products and services, take orders, and process softwares returns. Salary Range: Php 30,000 - Php 59,999 KAWAJUN PHILIPPINES, INC. Unit B 2/f S.t.i.l. Building, Sta. Agueda Cor. Del Bros. Avenue, Pascor Drive, Santo Niño, City Of Parañaque Basic Qualification: KABEYA, NOBORU Oversees the daily business President/manager operation 52. Brief Job Description: Salary Range: Oversees the daily business operation Php 30,000 - Php 59,999 MJP-INTERNATIONAL TECH INC. 7r Fort Palm Spring, 30th St. 1st Ave., Fort Bonifacio, City Of Taguig Basic Qualification: YOOK, KYUNG WAN With IT knowledge, 25 years Technical Support Specialist above, can speak and write 53. Korean language. Brief Job Description: Provide data analysis, conduct research & current Salary Range: systems updated Php 60,000 - Php 89,999 NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg., Aseana Avenue, Entertainment City, Tambo, City Of Parañaque Basic Qualification: knowledgeable in computer BAI, QIN application with good oral Chinese Customer Service and written communication 54. skills Brief Job Description: customer support and data base services Salary Range: Php 30,000 - Php 59,999

55.

56.

57.

58.

CHEN, WANGHAO Chinese Customer Service Brief Job Description: customer support and data base services

DENG, QIHANG Chinese Customer Service Brief Job Description: customer support and data base services

FANG, MING Chinese Customer Service Brief Job Description: customer support and data base services

HUANG, WENLAI Chinese Customer Service Brief Job Description: customer support and data base services

Basic Qualification: knowledgeable in computer application with good oral and written communication skills

No.

59.

60.

61.

62.

63.

64.

65.

66.

67.

68.

69.

70.

71.

72.

73.

74.

75.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LI, CHAO Chinese Customer Service Brief Job Description: customer support and data base services LIU, ZHONGLIANG Chinese Customer Service Brief Job Description: Customer support and data base services

MAO, YAO Chinese Customer Service Brief Job Description: customer support and data base services

PENG, YONG Chinese Customer Service Brief Job Description: customer support and data base services

QIU, SHENWEN Chinese Customer Service Brief Job Description: Customer support and data base services

SHEN, DAORUI Chinese Customer Service Brief Job Description: Customer support and data base services

SONG, QINGBO Chinese Customer Service Brief Job Description: customer support and data base services

SONG, XINQIANG Chinese Customer Service Brief Job Description: customer support and data base services

SUN, YUXUE Chinese Customer Service Brief Job Description: Customer support and data base services

WANG, JIAXING Chinese Customer Service Brief Job Description: customer support and data base services

WANG, QIAN Chinese Customer Service Brief Job Description: customer support and data base services

YU, ZEJIANG Chinese Customer Service Brief Job Description: customer support and data base services

ZHANG, HAONAN Chinese Customer Service Brief Job Description: customer support and data base services

ZHANG, JIAQI Chinese Customer Service Brief Job Description: customer support and data base services

SUHANDI Indonesian Customer Service Brief Job Description: customer support and data base services

GONG, CHANIL Korean Customer Service Brief Job Description: customer support and data base services

HO KAR MING Malaysian Customer Service Brief Job Description: Customer support and data base services

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

76.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

77.

78.

79.

TZU, PEI-CHING Taiwanese Customer Service Brief Job Description: customer support and data base services

CHUONG TUYET PHUNG Vietnamese Customer Service Brief Job Description: customer support and data base services

DINH THI LIEN Vietnamese Customer Service Brief Job Description: customer support and data base services TRAN RAT LIL Vietnamese Customer Service Brief Job Description: Customer support and data base services

Tuesday, December 7, 2021

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

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

SA RIVENDELL GLOBAL SUPPORT, INC. 9-11 Flr., The Biopolis Bldg., Macapagal Blvd., Brgy. 076, Pasay City 80.

81.

82.

EI EI KHAING Customer Service Representative Brief Job Description: Customer support and data base services GIP KIM LAN Customer Service Representative Brief Job Description: Customer support and data base services THAN XUAN TUNG Customer Service Representative Brief Job Description: Customer support and data base services

QUALIFICATION AND SALARY RANGE Basic Qualification: Has knowledge in computer applications Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has knowledge in computer applications Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has knowledge in computer applications Salary Range: Php 30,000 - Php 59,999

SOFTWAREONE PHILIPPINES CORPORATION 11/f 6780 Bldg., Ayala Ave., San Lorenzo, City Of Makati XXX, RUSIRU THARAKA KUMARA Solution Specialist 83.

Brief Job Description: Will be responsible for providing technology consulting to external customer and internal project teams

Basic Qualification: Relevant experience in architecting, designing, and implementing complex IT solutions Salary Range: Php 150,000 - Php 499,999

TELEPHILIPPINES INCORPORATED Edsa Central It Center 2, United Street Corner Edsa, Greenfield District, City Of Mandaluyong KISHAN, PREETH Basic Qualification: Senior Director - US Transformation Excellent oral and written communication skills; Brief Job Description: 7-8 years of relevant 84. Overall accountable for improvement and experience; Certified data transformation of the process. Works with the Scientist operations team to identify opportunities to enable other functions to achieve strategic goals through Salary Range: business excellence. Php 150,000 - Php 499,999 TOTAL CREST BUSINESS SUPPORT, INC. 26/f & 27/f Alphaland Corporate Tower, Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati Basic Qualification: SOONG FU YUAN Proficient in speaking, Mandarin Customer Service Specialist reading and writing 85. mandarin Brief Job Description: Prepare product or service reports by collecting and Salary Range: analyzing customer information Php 30,000 - Php 59,999 TSUKIDEN GLOBAL SOLUTIONS, INC. Unit 2102 One Corporate Center, Julia Vargas Ave., Ortigas Center, San Antonio, City Of Pasig Basic Qualification: College graduate; at least 3 ABE, KOICHI years relevant experience; Software Technical Analyst proficient in English and 86. Japanese Brief Job Description: In charge in providing project technical guidance Salary Range: Php 60,000 - Php 89,999 VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor., Washington St., Pio Del Pilar, City Of Makati Basic Qualification: ZENG, QIN Excellent in writing, reading Bilingual Admin Support Specialist and speaking in bilingual 87. languages Brief Job Description: Handles administrative request and queries from senior Salary Range: manager/officer Php 30,000 - Php 59,999 Basic Qualification: SHEN, YIBO Excellent in writing, reading Bilingual Finance Support Specialist and speaking in bilingual 88. languages Brief Job Description: Process and prepare financial business forms for the Salary Range: purpose of checking Php 30,000 - Php 59,999 LUU TIEU LINH Basic Qualification: Vietnam-speaking Customer Service Officer Excellent in writing, reading and speaking in Vietnamese 89. Brief Job Description: Responsible to resolve queries of the Malay-customers Salary Range: through email and chats Php 30,000 - Php 59,999 WISHLAND SOFTWARE TECHNOLOGY INC. 28/f Techzone Condo Corp., 213 Buendia Ave., San Antonio, City Of Makati Basic Qualification: WANG, ZHIGANG Proficient in speaking, Chinese Language-marketing Staff reading and writing in 90. Chinese Brief Job Description: Providing details to clients relative to services being Salary Range: offered Php 30,000 - Php 59,999 ZENDESK, INCORPORATED 30th Floor Net Park 5th Ave., E-square Crescent Park, Fort Bonifacio, City Of Taguig EE MEI YUET, DELIA a.k.a. YU MEIYU, DELIA Senior SMB Account Executive

91.

Brief Job Description: Account executives for SMB, companies with less than 100 employees, covering Chinese speaking region like China, Taiwan and Hongkong. A self started who has a consultative sales approach, provides excellent customer experience and offers polished presentation skills, running an inbound pipeline of sales opportunities and expansion.

Basic Qualification: Must be fluent in writing, reading and speaking Mandarin and English, with experience in software/ SAAS sales; Bachelor’s degree or equivalent work experience. Salary Range: Php 60,000 - Php 89,999

ZTE PHILIPPINES INC. Unit 1201 & 1202 12th Floor Fort Legend Towers, 3rd Ave. Corner 31st St., Bgc, Fort Bonifacio, City Of Taguig

92.

93.

94.

95.

Basic Qualification: Graduate of any four-year course

ZHANG, ZHENZHEN Financial Manager Brief Job Description: Responsible for financial and tax management WU, YUNHUI Product Manager Brief Job Description: Support the team in taking technical parts WANG, SHENGRONG Project Manager Brief Job Description: Responsible for monitoring the project of company PU, QUCHUAN Warehouse Manager Brief Job Description: Supervise warehouse activities

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of College Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of four-year course Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of any four year course Salary Range: Php 30,000 - Php 59,999 *Date Generated: Dec 6, 2021

In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 26, 2021, the name of LO, SHU-HAN under ANDES CONSULTING ADVISORY INC., should have been read as LO, SHU-HAN a.k.a. ANITA LO and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 26, 2021, the name of WANG, YU-SHU under ANDES CONSULTING ADVISORY INC., should have been read as WANG, YU-SHU a.k.a. WANG, CHIH-WEI 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 National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

A10 Tuesday, December 7, 2021 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

An emerging threat: Hypersonic weapons

S Defense Secretary Lloyd Austin last week said China’s pursuit of hypersonic weapons “increases tensions in the region” and vowed the US would maintain its capability to deter potential threats. Austin made the remarks in Seoul following annual security talks with his South Korean counterpart that focused on challenges from China and North Korea and other issues facing the allies. From the Associated Press: “China’s growing military muscle and its drive to end American predominance in Asia has triggered unease in Washington. The Chinese push was highlighted by its July test of a hypersonic weapon capable of partially orbiting Earth before reentering the atmosphere and gliding on a maneuverable path to its target. Experts say the weapons system is clearly designed with a purpose of evading US missile defenses, although China insisted it was testing a reusable space vehicle, not a missile.” “We have concerns about the military capabilities that the PRC continues to pursue, and the pursuit of those capabilities increases tensions in the region,” Austin said. China’s military modernization greatly worries the US because hypersonic weapons have the potential to nullify existing US missile defense systems, destabilize military balances abroad, and heavily alter deterrence strategies. Rylie White wrote in a study that “hypersonic weapons are characterized by their capacity to travel at and maintain speeds higher than Mach 5, or five times the speed of sound. Two types of hypersonic weapons are currently in development: Hypersonic Cruise Missiles (HCMs), which operate similar to existing subsonic cruise missiles and are sustained by aerodynamic lift, and Hypersonic Glide Vehicles (HGVs) which are launched on a ballistic missile, but are released to quickly re-enter the atmosphere in order to “glide” at a flatter trajectory to their target. Both types of vehicles can be maneuvered during flight, and their targets and trajectory may be altered. Gen. Mark Milley, chairman of the Joint Chiefs of Staff, said the US is also working on hypersonic weapons. But there is concern in Washington that it is lagging behind China and Russia in pursuing these types of weapons. Russia last week said its navy had successfully tested a prospective hypersonic cruise missile, which could hit targets at sea and on land with a range of 1,000 kilometers and a speed of Mach 9. Austin said he and South Korean Defense Minister Suh Wook discussed a wide range of topics, including North Korea’s newly developed hypersonic missile that it test-fired in September. The two agreed that North Korea’s advancement of its missile and other weapons programs “is increasingly destabilizing for regional security.” From AP: “Earlier this week, the Pentagon released the results of a global posture review that directs additional cooperation with allies and partners to deter “potential Chinese military aggression and threats from North Korea.” The review also informed Austin’s approval of the permanent stationing of a previously rotational attack helicopter squadron and artillery division headquarters in South Korea.” China, Russia, and the US are the leading powers in hypersonic weapons technology research, but many other countries are reportedly pursuing similar capabilities. Defense experts said the US should work with China and Russia to regulate export and proliferation of hypersonic technology because of the destabilizing threat of hypersonic weapons.

Response to Omicron Manny B. Villar

THE Entrepreneur

S we started making a significant dent on active Covid-19 cases in the country, here comes the news that a mutated coronavirus variant called Omicron may lead to new surges in global infection. Many countries, including the Philippines, quickly moved to tighten border control and even imposed ban on foreign travelers as a preemptive response, which is understandable. Such response, however, should be based on science, not on fear or panic. We have millions of Filipinos working and living overseas who usually come home for the Christmas season, and we cannot afford to make things unbearable for them. W hat we need instead of a ban is to implement the proven strategy of requiring all travelers to show negative results from swab tests, present vaccination cards, and undergo quarantine, if needed. Immigration and health authorities should ensure that no traveler would take a shortcut.

The same strategy and local health protocols led to a substantial decline in virus transmission in recent weeks. Active Covid-19 cases in the Philippines, per data of the Department of Health, fell to 15,327 as of December 1 from a peak of more than 125,000 cases in the first week of September out of 2.83 million total infections. Daily infections are now in the vicinity of 500, substantially down from over 22,000 in the first week of September. Subsequently, hospitalization is now significantly lower,

BusinessMirror A broader look at today’s business

John Mangun

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giving doctors and nurses flexibility to attend to non-Covid cases. Much remains to be known about the Omicron variant, although the World Health Organization already sounded the alarm about it being a variant of concern. What worries health experts is Omicron’s ability to reduce vaccine efficacy, but this is still in the realm of speculation. Even Fitch Ratings, one of the major credit rating agencies, considers it too soon to estimate the effects of the Omicron variant on global growth. What I am afraid of is its im-

‘The Summit for Democracy’

Since 2005

Founder

I agree with the assessment of the National Economic and Development Authority that we should begin looking beyond the pandemic and prepare for the future. A research paper released by the Philippine Institute for Development Studies says the Philippines might have incurred P2.3 trillion in productivity losses as direct and indirect health impacts of the pandemic.

he apologists for China and its government have been out in full force these past couple of weeks. The conversations both on SocMed and in the press/media have ranged the gamut from “China never did anything wrong” to “China has always been mistreated.” It is understandable as Joe Biden and the US prepare for “The Summit for Democracy.” It is a virtual conference, hosted by the United States, “to renew democracy at home and confront autocracies abroad.” From the official web site: “Since day one, the Biden-Harris Administration has made clear that renewing democracy in the United States and around the world is essential to meeting the unprecedented challenges of our time. On December 9 to 10, 2021, President Biden will host the first of two Summits for Democracy, which will bring together leaders from government, civil society, and the private sector to set forth an affirmative agenda for democratic renewal and to tackle the greatest threats faced by democracies today through collective action.” “In advance of the first summit, we are consulting with experts from

government, multilateral organizations, philanthropies, civil society, and the private sector to solicit bold, practicable ideas around three key themes: Defending against authoritarianism, Addressing and fighting corruption, and Promoting respect for human rights.” Participation though is by “Invitation Only” and while the promotion of global democracy is goal, naturally as would any nation, promotion of the US is an important side agenda. Therefore, it is important that Biden does not have to put up with any sort of nonsense from Russia or China, especially in light of the fact that both the Ukraine and Taiwan are going to attend. Others left off the guest list include Turkey and Hungary. The attendees are supposed to be nations that respect and follow “democracy” as measured by the benchmarks used by The Cato Institute in Washington DC and the Fra-

In Southeast Asia, just four out of the 11 Southeast Asian states were invited, namely Indonesia, Malaysia, the Philippines, and Timor-Leste. While there are those that strongly believe that the Philippines does not deserve the invitation and is only invited because the US wants a counterfoil to China, the fact is that the Philippines scores higher on the Freedom Index (6.88) than all our Asean neighbors, except Singapore and Cambodia. And Cambodia is deep in China’s economic sphere.

ser Institute in Vancouver, Canada, co-publishers of the annual Human Freedom Index Report ranking 162 countries in two distinct categories: Personal Freedom and Economic Freedom to form the final Human Freedom score. The problem is that Hungary, according to the Human Freedom index, scores better at 7.65 than Ukraine (7.26) and hugely better than another attendee, Pakistan at 5.69. Turkey scores at 6.21 versus Iraq with a rating of 4.34. But there is no way that the US is going to do anything to help the presidents of Turkey—Erdoğan—or Hungary— Orbán—who are both running for reelection this year. The top 10 “Freest Countries in the World for 2021-Human Free-

pact on the recovery of the tourism sector, which employs millions of Filipinos here and abroad. Several airlines, hotels and resorts earlier announced they were ready to rehire furloughed or retrenched personnel as the government reopened tourism establishments beginning November. The contribution of the tourism sector slipped by about 80 percent in 2020 from the pre-pandemic levels, as most hotels, resorts and similar establishments were closed at the beginning of the outbreak. More than a million tourism jobs were lost in the aftermath. I remain confident, though, that domestic tourism will pick up the slack from the current restrictions on international travel to give our workers a source of income, especially during the holidays. Amid the new variant threat, we should sustain our vaccination program, which gained speed from November 29 to December 1 when over 7 million Filipinos received their doses against the virus. Vaccination and health protocols, especially the mandatory use of face See “Villar,” A11

dom Index” include Hong Kong in third spot, while Singapore ranked 28 and Hungary ranked 49, yet none of these countries were invited to the Summit. However, countries like Pakistan ranked 140 and Ukraine ranked 110 were invited. In Southeast Asia, just four out of the 11 Southeast Asian states were invited, namely Indonesia, Malaysia, the Philippines, and Timor-Leste. While there are those that strongly believe that the Philippines does not deserve the invitation and is only invited because the US wants a counterfoil to China, the fact is that the Philippines scores higher on the Freedom Index (6.88) than all our Asean neighbors, except Singapore and Cambodia. And Cambodia is deep in China’s economic sphere. China went so far as to publish across the Internet infographics on “China’s Whole-Process People’s Democracy” and “Comparison of election systems between China and the US.” The latter highlights that “Voter turnout in China is 90 percent versus 66 percent in the US and that the government has a 94 percent approval rating.” Well, the last is certainly correct with Biden at negative 9.9 percent net approval. Apparently, democracy is alive everywhere and only where the US says it is. 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.

Opinion BusinessMirror

www.businessmirror.com.ph

Dr. Anthony Fauci says early reports encouraging about Omicron variant

Which one will the fountain bless? Manny F. Dooc

TELLTALES

By Gene Johnson The Associated Press

S health officials said Sunday that while the Omicron variant of the coronavirus is rapidly spreading throughout the country, early indications suggest it may be less dangerous than Delta, which continues to drive a surge of hospitalizations. President Joe Biden’s chief medical adviser, Dr. Anthony Fauci, told CNN’s “State of the Union” that scientists need more information before drawing conclusions about Omicron’s severity. Reports from South Africa, where it emerged and is becoming the dominant strain, suggest that hospitalization rates have not increased alarmingly. “Thus far, it does not look like there’s a great degree of severity to it,” Fauci said. “But we have really got to be careful before we make any determinations that it is less severe or it really doesn’t cause any severe illness, comparable to Delta.” Fauci said the Biden administration is considering lifting travel restrictions against noncitizens entering the United States from several African countries. They were imposed as the Omicron variant exploded in the region, but UN Secretary-General Antonio Guterres has blasted such measures as “travel apartheid.” “Hopefully we’ll be able to lift that ban in a quite reasonable period of time,” Fauci said. “We all feel very badly about the hardship that has been put on not only on South Africa but the other African countries.” Omicron had been detected in about a third of US states by Sunday, including in the Northeast, the South, the Great Plains and the West Coast. Wisconsin, Missouri and Louisiana were among the latest states to confirm cases. But Delta remains the dominant variant, making up more than 99 percent of cases and driving a surge of hospitalizations in the north. National Guard teams have been sent to help overwhelmed hospitals in western New York, and Massachusetts Gov. Charlie Baker issued an emergency order requiring any hospitals facing limited patient capacity to reduce scheduled procedures that are not urgent. US officials continued urging people to get vaccinated and to receive booster shots, as well as take precautions such as wearing masks when among strangers indoors, saying anything that helps protect against Delta will also help protect against other variants. Even if Omicron proves less dangerous than Delta, it remains problematic, World Health Organization epidemiologist Dr. Maria Van Kerkhove told CBS’ “Face The Nation.” “Even if we have a large number of cases that are mild, some of those individuals will need hospitalizations,” she said. “They will need to go into ICU and some people will die.... We don’t want to see that happen on top of an already difficult situation with Delta circulating globally.” Two years into the outbreak, Covid-19 has killed over 780,000 Americans, and deaths are running at about 860 per day. More than 6,600 new hospital admissions are being reported daily, according to tracking data from the US Centers for Disease Control and Prevention. Covid-19 cases and deaths in the US have dropped by about half since the Delta peak in August and September, but at more than 86,000 new infections per day, the numbers are still high, especially heading into the holidays, when people travel and gather with family.

enator Bong Go’s withdrawal from the presidential race has entirely changed the political landscape in our election-crazy republic. The dominant political party that the President heads, although contested by a rival faction led by Senator Manny Pacquiao and Senator Koko Pimentel, has lost its presidential standard bearer.

and lost Bong Go as presidential candidate. The party lost its soul. I don’t know if we’ve all been taken for a ride or the PDP-Laban under the Cusi wing has been running around like a headless chicken. It typifies the best laid out plans of mice and men, leaving us to wonder what their plans are for our country in case they keep the helm of our government under their control for the next six years. Without its own candidate, the Cusi-wing of the PDP-Laban has no other option but to adopt a candidate it will support in the next election. In an advisory released on December 1, Secretary Melvin Matibag said that the party and its members “shall support the best and most qualified candidates who are aligned with our mission to fight drugs, corruption, terrorism, criminality, poverty, and the establishment of a federal form of government.” He further stated that they “will endorse candidates for national positions that will embody the PDP-Laban principles.” Now, there’s a frantic race to get President Duterte’s endorsement. If before they dare not touch President Duterte with a 10-foot pole, some candidates are now anxious to get the President’s support. They are making a beeline to get an audience with the President to explain why they should get the presidential anointment. Others are more discreet and probably sent their emissaries to get President Duterte’s blessings; one or two of them have openly courted his political backing. Now they have changed their tone with a different kind of messaging when talking about the administration and the President’s management

Tuesday, December 7, 2021 A11

Now, there’s a frantic race to get President Duterte’s endorsement. If before they dare not touch President Duterte with a 10-foot pole, some candidates are now anxious to get the President’s support. of our country. Whereas before they were unkind and harsh, now they are all praises for the President’s leadership and alleged accomplishments. Mayor Isko, for instance, makes no bones about his wish to receive President Duterte’s endorsement. In an answer to an interview, Yorme Isko admitted: “Kung ako ang mapupusuan nila, uy salamat, thank you in advance. Pero ayaw ko pa rin pangunahan sila until they say so. For the meantime, I’m always hopeful.” On the other hand, Pacquiao announced that he is open to a possible endorsement by the President in his 2022 presidential bid. “Kung ie-endorso ako, walang problema. Pagkakaisa naman ang isinusulong natin, kasi biblical naman ’yan eh. If a kingdom is divided against themselves, that kingdom cannot stand. If a house is divided, that house cannot stand.” Pacquiao met with the President in Malacañang last month for a renewal of friendship after the former had severely criticized Duterte for widespread corruption in his administration. In the case of Bongbong Marcos, it’s the President’s own daughter, Mayor Sara, who has been making the pitch for her presidential tandem. Congressman Paolo Duterte has already endorsed Marcos. It’s likely that Vice Mayor Baste Duterte is also supportive of

Now it is scrambling to look for a candidate that it will endorse and hopefully save the PDP-Laban from totally disintegrating and vanishing from the political center stage. It does not even have a vice presidential candidate since nobody replaced Senator Bong Go after President Duterte abandoned his announced plan to bid for it and averted a head-on collision course with his own daughter, Mayor Sara Duterte-Carpio. The leadership of PDP-Laban, led by Secretary Alfonso Cusi, has itself to blame for this imbroglio. Consumed by its desire to perpetuate the Dutertes in power, it didn’t look outside the family (which includes Senator Bong Go) for its standard bearer. Senator Manny Pacquiao, who had made known his presidential ambition before anyone else, was not even given scant attention despite earlier encouragement made by the President. Initially, the Cusi-faction floated the tandem of Duterte-Duterte but when this was met with unfavorable comments, the party shifted to endorse Senator Bong Go to be its standard bearer with President Duterte as his

running mate. From the very start, Bong Go had set the condition that he would only seek the presidency if the President would be his partner. Meanwhile, Mayor Sara, who had taken the position that only one Duterte should run for a national office, announced her decision to seek reelection as mayor of Davao City. However, it would seem that the ruling party had not given up its hope to lure Mayor Sara to be its presidential candidate so Bong Go, instead of running for the top post, had settled for vice president. But Mayor Sara firmed up her decision and filed her candidacy for mayor. To save the presidential slot, Senator Bato de la Rosa filed his candidacy for president under the PDP-Laban banner. The good senator did not conceal the fact that he was only a placeholder when he fielded a question from the media that it would be good if eventually Mayor Sara substituted him as the party’s presidential bet. Now we all know what happened. PDP-Laban lost Senator Bato, lost Sara to another party, lost President Duterte as the party’s vice presidential contender,

Villar. . .

CREATE: More VAT confusion

Continued from A10

masks outside our homes, and social distancing, remain the key to addressing the pandemic. We should not let our guard down, while allowing the economy to function and workers to earn income. More coronavirus variants may emerge in the future, but we should continue to adopt the proven scientific, calibrated and targeted approach to deal with the pandemic, instead of employing a blanket lockdown that will only spread the virus more quickly within households, where face mask use is limited. The granular lockdown based on alert level system has been proven more effective and less damaging to the economy. At the same time, I agree with the assessment of the National Economic and Development Authority that we should begin looking beyond the pandemic and prepare for the future. A research paper released by the Philippine Institute for Development Studies says the Philippines might have incurred P2.3 trillion in productivity losses as direct and indirect health impacts of the pandemic. The same study shows an “alarming” decline in inpatient care among children and the large drop in medical claims among the poor. The same is true with the state of education. Locking down children inside our homes for two years might have affected their physical, mental and emotional development. We have lost two good years of education for our children, and it is time to plan how we can help them adjust to the new normal through vaccination and reopening of schools. I hope the downtrend in Covid-19 cases will continue despite the threat of Omicron, so we can shift to Alert level 1 and possibly start face-to-face classes by January 2022. Covid-19 variants may go and new mutations may emerge. They are part of the new normal that we will face in the coming year. The new strains, however, should not stop the Philippines from fully reopening the economy. For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar. com.ph

Atty. Irwin C. Nidea Jr.

Tax law for business

he quest for a definite answer to the question—what is the proper VAT treatment of a sale to a registered business enterprise (RBE) inside the ecozone?—is a continuing saga. The first chapter started when Revenue Regulation (RR) 9-2021 was released. RR 9-2021 was issued to implement the imposition of 12 percent VAT on certain transactions previously taxed at zero rate under the Tax Code. After a few days, the Implementing Rules and Regulations of CREATE Law was issued. I flagged in my previous article, that the IRR of CREATE added a provision acknowledging RR 9-2021 and the VAT burden it carries. These additional provisions in the implementing rules of CREATE are considered unauthorized administrative legislation for they cannot be found in the law. They altered the application of VAT zero-rating, and they added restrictions to the incentives, that are not contemplated by the legislature. CREATE’s only condition is that sale to an ecozone entity must be directly and exclusively used for its registered activities to be considered VAT zero-rated. It does not contemplate the scenario laid down in RR 9-2021, where VAT will be passed on to RBEs. This regulation was passionately opposed by ecozone locators. You cannot blame them because if RR 9-2021 is carried, VAT will be passed on to RBEs and the crossborder doctrine will be compromised. Thus, the government was forced to issue a circular deferring the implementation of RR 9-2021. Please note that it was not cancelled nor repealed by a subsequent issuance. It was just deferred. In the meantime, RBEs and their suppliers are in suspended animation since the deferral of RR 9-2021. These businesses are going concerns. After the deferral of RR 9-2021, they are now

in an unenviable position where they have to choose between two opposing schools of thought. The first school of thought asserts that the deferral of RR 9-2021 means that the status quo stands. All purchases of an RBE are considered zero-rated and the principle of cross-border doctrine remains untainted. The second school of thought, on the other hand, warns that the CREATE law is already in effect and is now part of our Tax Code. It categorically states that only sale to ecozone entities that are directly and exclusively used for their registered activities are considered VAT zero-rated. It has somewhat tweaked and limited the cross-border doctrine. Both positions carry with them compliance risks. If you follow the first school of thought and the BIR examiner does not agree, an RBE will be assessed with deficiency VAT. The BIR will argue that you should prove that your purchases are directly and exclusively used for your registered activities before you can avail yourself of VAT zero-rating. If you follow the second school of thought, on the other hand, the BIR examiner might ask suppliers of ecozone entities why are they not treating all purchases as zero-rated? RBEs might file a claim for refund against their suppliers for imposing VAT. This is a continuing saga and we are now opening the next chapter. An amendment to the IRR of CREATE was recently issued. The new IRR now reads that all registered EXPORT AND DOMESTIC M A R K ET ENTER PR ISES may continue to enjoy the duty exemp-

Loosening the restrictions for VAT zero-rating may be good for the economy, in general. But is it worth it if it means undermining the wordings of the law? Only time will tell. This may not be the end of this saga, after all.

tion, VAT EXEMPTION ON IMPORTATION, AND VAT ZERO-RATING ON LOCAL PURCHASES provided the DUTY EXEMPTION, VAT exemption on importation and VAT zero-rating on local purchases shall only apply to goods and services directly ATTRIBUTABLE TO and exclusively used in the registered project or activity of SAID REGISTERED export enterprises LOCATED INSIDE THE ECOZONES AND FREEPORTS UNTIL THE EXPIRATION OF THE TRANSITORY PERIOD. This is now the prevailing rule. To be considered VAT zero-rated, purchases by an ecozone entity must be directly attributable to and exclusively used in its registered project or activity. Suppliers and buyers must determine if what is being bought or sold will be directly attributable to and exclusively used for the registered activity of the ecozone entity. There is a glaring attempt to abandon the phrase “directly and exclusively used” as worded in CREATE and in the old IRR. Why did they insert the term “attributable” in this new IRR? As I discussed in my previous article, the Tax Code speaks of attribution. The Court of Tax Appeals (CTA) in the case of Toledo states that “directly” and “entirely” as stated in Section 112 of the Tax Code does not mean that only those purchases of goods that form part of the finished product of the taxpayer can be subject of an input VAT refund. According to the CTA, it is significant to note that (in claims for refund) the Tax Code did not limit input taxes to those purchases that only form part of the finished product of the taxpayer. To the extent possible, words must be given their ordinary meaning. The word “attribute,” the adjective form of which is “attributable,” is defined in the dictionary as “to explain as to cause or

Bongbong. Mayor Sara called on all supporters of President Duterte to unite in the coming elections and to rally behind Marcos. Senator Ping Lacson, for his part, said he would not seek PDPLaban’s endorsement after Bong Go’s withdrawal. He won’t do it because he claimed “it’s too presumptuous on our part.” But if Lacson gets the offer, I don’t think he would decline. After all, he has said that he is neither anti- nor pro-Duterte but pro-Filipinos. With respect to VP Leni, I believe there is no love lost between the top two officials of our land. If President Duterte will survey the landscape to consider his possible presidential anointee in the coming election, I don’t think VP Leni will be in the radar screen. And we don’t expect VP Leni to seek the President’s support. That would be a betrayal of her principles. Sleeping with the enemy and abandoning one’s cause is a fact of political life. As the late Senate President Amang Rodriguez would love to say: “Politics is addition.” Winning a public office is a game of numbers and to hell with one’s convictions and principles. They don’t win elections. To the candidate, there is no substitute for victory. So what matters is to get the President’s endorsement—certainly a boon to one’s candidacy. And the President in his final act as a kingmaker on his way to his lame duck presidency will make the final choice as the popular ditty croons: “Three coins in the fountain/ Each one seeking happiness/ Thrown by three hopeful lovers/Which one will the fountain bless?” And the hopefuls ask: “Make it mine/ Make it mine/ Make it mine.”

origin.” In other words, “creditable input tax due or paid attributable to such sales” simply means that the input tax is connected with the zero rated or effectively zero-rated sales. By inserting the word “attributable,” sale to RBEs that may qualify for VAT zero-rating significantly widens. Unlike the phrase “directly and exclusively used,” which is limiting, the phrase “directly attributable to and exclusively used” is much more encompassing. I have three concerns with this new IRR though. First, what is the status of RR 9-2021? Will it not be categorically repealed? Will it stay in limbo forever? Second, the question of whether the cross-border doctrine has been abandoned is still up in the air. CREATE nor this new IRR did not repeal the PEZA Law. My other concern is that the word “attributable” cannot be found in CREATE. Is this another attempt of administrative legislation with the hope of undermining the restrictive wordings used in the law? CREATE is categorical that to be considered VAT zero-rated, sale to an ecozone enterprise must be “directly and exclusively” used for its registered activity. It does not say that to be considered VAT zero-rated, it is enough that a sale to an ecozone enterprise is “directly attributable to and exclusively used” for its registered activity. Loosening the restrictions for VAT zero-rating may be good for the economy, in general. But is it worth it if it means undermining the wordings of the law? Only time will tell. This may not be the end of this saga, after all.

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 8403-2001 local 330.

A12 Tuesday, December 7, 2021

‘FREE HOUSING IMPOSSIBLE IF YOU DON’T HAVE A PLAN’

EN. Emmanuel D. Pacquiao is determined to pursue his free housing advocacy for deserving poor Filipino households, saying critics of his plan should junk their defeatist attitude about it being “fiscally unsustainable.” “Imposible kasi wala silang plano [They say it’s impossible because they have no plan],” Pacquiao said, in response to a query from BusinessMirror during a free-wheeling exchange with journalists under the ALC Media Group on Monday. Pacquiao said the country, for all its problems, is rich in resources and can resolve most of the problems tied to poverty —such as shelter—is a thoroughgoing campaign against corruption is waged to free up monies for human settlements. Besides reducing corruption, Pacquiao is looking to tap what he described as “a lot of nontax revenue” that is undercollected, thus creating a fiscal imbalance where government unduly relies mostly on tax sources to funds development programs. “If you remove corruption, there’s really so much you can do,” Pacquiao said. His running mate, Buhay Rep. Lito Atienza, agreed and said that their tandem is anchoring its vision to reduce poverty on two planks: cutting corruption and pursuing “genuine local autonomy” to allow local government units more freedom to chart their areas’ direction. Staff of the senator screened videos of five so-called “Pacman villages” which some critics had earlier belittled, and they showed fully-developed housing communities with an average 55-square-meter size, spread out in Pacquiao’s turf Sarangani and General Santos City. Aides explained that it becase

possible for Pacquiao to develop the five villages, benefiting over 2,000 home owners, because he incrementally buillt up the villages through the years. “Every time he wins a boxing match, he sets aside money to buy land, and then, the next time around, saves more money to build the houses,” one aide explained. He personally supervised the process of screening beneficiaries, often taking time from his daily morning runs and walks to talk to potential beneficiaries, and interviewing them. “They could be women washing clothes at the river, or an old ice cream vendor. If he learns they don’t own decent homes, he interviews them further.” Asked how this could be duplicated elsewhere in the country, the senator said he does not envision a “one-size-fits-all” template for housing, adding, “of course I cannot do in Metro Manila what I did in Sarangani or Gensan. For Metro Manila cities, they would have to be multi-storey structures where the ground floor can house small businesses, and people reside at the second, third, fourth floors.” Finally, he had a message for critics: “If I let them tell me it can’t be done, it’s like I’m letting them tell me, you can’t beat Dela Joya,” referencing his stunning victory that started him on an unstoppable path as global boxing icon, the only one who won in eight divisions. According to his running mate Atienza, “the commitment to provide shelter should be delivered because the very poor today are victims of government inaction and lack of attention. So it’s just right that they’re given primarily housing, which is even a mandate of the Constitution. Housing should be a guaranteed government service to the people.” Butch Fernandez

Bill declaring PHL maritime zones hurdles House vote

By Jovee Marie N. dela Cruz

@joveemarie

HE House of Representatives on Monday endorsed for the Senate approval the bill declaring the maritime zones under the jurisdiction of the Republic of the Philippines. This after lawmakers—voting 189 affirmative and 0 negative— approved on third and final reading House Bill 9981 declaring the maritime zones of the Philippines in order to establish the legal bases by which social, economic, commercial, and other activities may be conducted thereat.

The bill provides flexibility in enacting laws pertinent to the rights and obligations that the Philippines can exercise over its maritime zones. The measure also provides a general declaration of the maritime zones under the jurisdiction of the Philippines. The various maritime

zones include internal waters, archipelagic waters, territorial sea, contiguous zone, exclusive economic zone (EEZ), and continental shelf. It claims the maximum extent of territorial sea (12 nautical miles), contiguous zone (24 nautical miles), EEZ (200 nautical miles), and continental shelf (200 nautical miles). The bill allows the delineation in accordance with Article 76 of the United Nations Convention on the Law of the Sea (Unclos) of continental shelves extending beyond 200 nautical miles. T he mea su re prov ides for the sovereign rights over these maritime zones, thus establishing the Philippines’s exclusive rights to explore and exploit living and nonliving resources found in these zones, in accordance with the Unclos and other existing laws and treaties. It also provides for the exercise of jurisdiction over these zones with

regard to rights and duties provided for in the Unclo. House Committee on Foreign Affairs Chairperson Ann K. Hofer said the bill was crafted in close consultation with officials from the Executive Branch and members of the academe and civil society. Explaining the bill’s impact, Hofer pointed out that, taken together with the bill on the Archipelagic Sea Lanes, the Philippine Maritime Zones Act brings to realization the other half of said twin measures which will complete the Philippines’s archipelagic house. “The approval of HB 9981 marks an important step towards consolidating our maritime jurisdiction as declared in the historic Arbitral Award,” she said. Hofer also expressed optimism that the Senate’s counterpart bill for HB 9981 will see swift passage and that the measure will eventually be signed into law before the end of the 18th Congress.

BBM wants NFA back to ensure price stability By Jasper Emmanuel Y. Arcalas

@jearcalas

RESIDENTIAL aspirant Ferdinand “Bongbong” Marcos Jr. wants to amend the rice trade liberalization (RTL) law to restore the National Food Authority (NFA) as the top regulator of the country’s rice industry to ensure stability of palay prices. Marcos said he will suspend the RTL law, a legislation enacted by the Duterte administration in 2019 that deregulated the rice industry, if he gets elected as President in next year’s national elections. The NFA was created during the reign of the late dictator Ferdinand E. Marcos Sr. Marcos said he wants to bring back the “original functions” of the NFA that were stripped away by the RTL law, which were regulatory and price stability mandates. The RTL law or Republic Act 11203 stripped away most of the NFA’s regulatory functions, reducing the state-run authority to a buffer stocking agency. “We cannot subsidize the price [for farmers]. I think the NFA can still go back to its original function and stabilize the price for the local market. I do not think that is regarded as a subsidy but a price stabilization—we can argue with the WTO [World Trade Organization], I think there is a possibility there,” he said at a virtual forum hosted by an alliance of agriculture industry groups on Monday. “The NFA should return to its functions as a regulatory and price stabilization agency rather than just an importation agency,” he added.

‘Too dependent’ on imports

MARCOS noted that the RTL law had many “unintended consequences” that are now “ravaging” the agriculture sector. “I understand that during the crisis, the pandemic, that our government decided to use importation to maintain the price of rice, and that’s been effective. But the problem with importation and rice tariffication law, it ravages the local agriculture sector,” he said. Marcos wants the policy direction of prioritizing importation over local production to stop, deeming it detrimental to farmers’ lives. “I remember last year, suddenly there was a notice from the Department of Agriculture [DA] saying that we should prioritize importation…. Where does that kind of thinking come from? Why?” he said. “What possible reasons do you want to prioritize importation before the local [production], especially in the middle of a pandemic? That is something we have to attend to,” he added. Marcos claimed the Philippines has become “too dependent” on importation to meet its food supply needs, which he pointed out is “worrisome.” “We can consider over 30 decades of diminution of our agriculture and our increasing dependence on importation is something that is worrisome. We cannot simply continue to do this,” he said. “When Covid-19 came, it became sharply clear that we really have a problem with our food supply chain. We have to figure this out. We cannot continue just doing this. We must have a strategic food supply. We must not be dependent on importation,” he added.

A GROUP of fishermen push ashore a boat used in scuba diving and fishing along Anilao beach in Sitio Looc Barangay Bagalangit, Mabini, Batangas. BERNARD TESTA

Stranded Pinoys rush to join Balikbayan flights

By Malou Talosig-Bartolome

EMEDIOS ILAGAN, a 58-year-old housekeeper of an African diplomat in Brussels, was excited to fly back to the Philippines. Her years of hard work abroad was finally paying off. Her son is graduating at the AFP Officer Candidate School this December 20. But when she was about to check in her luggage at the Emirates Airlines at the Brussels International Airport, she was told she could not be allowed to board the plane. “I did not expect this to happen to me, to be stranded, on the spot,” Ilagan told BusinessMirror, partly in Filipino. Ilagan’s flight was on December 10 and 12, four days after the Philippine government announced a ban on travelers from Brussels and six other countries in Europe. Ilagan admitted that she heard about the travel ban in news and

thought that she can still make it because her flight was BrusselsDubai and then Dubai-Manila. She called the airlines and was told her flight was not cancelled She also asked her travel agency if she can still fly. She was told, “Yes, you can go.” “I even had my pictures taken pushing my luggage,” she mused. She reached the Philippine Embassy in Brussels and was told there may be a flight specially chartered for Filipinos like her who need to fly back to the Philippines this month. Ilagan added she would go to Amsterdam, “by plane or train,” if she had to “because it’s so important for me to be at my child’s graduation.” The Department of Foreign Affairs is mounting Bayanihan repatriation efforts for around 100 Filipinos stranded in Europe and Africa. DFA Undersecretary for Migrant Workers Affairs Sarah Lou Arriola said they are eyeing the schedule of repatriation flights to

be on December 10 and 13. Prior to this, the Philippine Embassy in the Netherlands — the first European country placed on red list—has also facilitated the repatriation of 150 Filipinos. “We have been able to arrange flights with KLM for weeks already. Filipinos from here as well as transiting seafarers are being allowed entry to the Philippines on humanitarian basis,” Philippine Ambassador to The Netherlands Eduardo Malaya told BusinessMirror. Aside from land-based Filipino expatriates in Europe, some Filipino seafarers were stranded due to the Philippine government’s travel ban. Arnel Pangatungan, a seafarer who came from Pisa, Italy, shared in his YouTube channel that he was also held at the Amsterdam airport. He was able to fly from Pisa to Amsterdam, but the KLM staff told him he came from a Red List country. “The KLM staff who assisted me explained that since I came

from a Red Flag country, which is Italy, I must quarantine for 14 days in the Netherlands. I was so dismayed. Imagine, 14 days of quarantine in the Netherlands and then another 14 days in the Philippines. When I computed, it means I’ll spend Christmas ko— in quarantine [facility]!!” Pangatungan said. He was profusely thankful for a fellow Filipino, a KLM employee, and the Philippine Embassy in The Hague who helped him take a special repatriation flight on December 1. Besides the The Netherlands, Belgium and Italy, the other countries in Europe on the Red List are Austria, Czech Republic, Hungary and Switzerland. Seven countries in Africa —South Africa, Botswana, Namibia, Zimbabwe, Lesotho, Eswatini, and Mozambique— are also in the Red List. Arriola said 49 Filipinos are stranded in those countries and waiting to be repatriated too by the Philippine government.

Companies BusinessMirror

Editor: Jennifer A. Ng

Tuesday, December 7, 2021

Meralco electricity sales up in Nov as demand improves By Lenie Lectura

@llectura

he Manila Electric Co. (Meralco) saw an improvement in electricity sales last month mainly due to improving demand across all sectors. Meralco First Vice President and Chief Commercial Officer Ferdinand Geluz said in a text message Monday that the utility firm registered a 10.6-percent increase in sales for the month of November versus the same month a year ago. Meanwhile, year-to-date sales rose by 6 percent from last year. The utility firm noted the continued recovery in the commercial and industrial sectors, following more flexible community quarantine restrictions, and sustained growth in

the residential sector. “All sectors exhibited double-digit growth. For November, the whole Meralco franchise experience full month under GCQ [general community quarantine] level 2 and less restriction resulting in better mobility and economic and commercial activity,” said Geluz. He added that there was no major typhoon this year and temperature was relatively warmer. Last year, typhoons Tolly and Ulyses affected Meralco's franchise area.

Meralco’s franchise area spans the entire Metro Manila, and nearby provinces of Bulacan, Cavite, Rizal and parts of Batangas, Laguna, Pampanga and Quezon. It registered 7.4 million customers at end-September this year. From January to September, Meralco reported a 6-percent increase in consolidated energy sales volume to 34,398 gigawatt hour (GWh) from 32,539 GWh in 2020. Energy sales volumes from Meralco and Clark Electric were 6 percent and 10 percent higher, respectively. In terms of the sales mix, residential sales accounted for 37 percent, while commercial and industrial sales accounted for 33 percent and 30 percent, respectively, Despite cooler temperatures since the start of the rainy season in June, residential sales volume reached 12,746 GWh, a 2-percent increase from 12,543 GWh in 2020 driven by continued high-volume energization

of applications from socialized and mass housing customers. Commercial sales volume grew by 2 percent to 11,281 GWh in 2021 from 11,063 GWh owing to the reopening of the economy and increased mobility that led to demand growth from retail, restaurants, and public transport sectors. Industrial sales registered the highest increase at 16 percent to 10,263 GWh from 8,827 GWh in the same period last year, backed by the strong performance of the semiconductor industry amid the high demand for microchips, electronic parts, and devices; growth from cement and steel industries stimulated by public and private construction projects; and higher operational capacities in the food and beverage, and plastics industries. Consolidated customer count went up by 4 percent to 7.4 million at end-September from 7.1 million in the same period in 2020, as energization of new customers continued.

MPT South wants to tap green finance By Lorenz S. Marasigan @lorenzmarasigan

etro Pacific Tollways South Managment Corp. (MPT South) is looking into green financing to refinance its existing loans for the development of the Cavite-Laguna Expressway (Calax). Chris Lizo, the company’s CFO, said the group intends to be the “pioneer in terms of doing green financing” in the tollways sector in the Philippines, and is planning to implement this fund raising activity within the next three years. “We have financing in place already for the completion of Calax. At some point we want to consider green financing to refinance our loans in Calax. Of course with green financing comes the obligation to keep or maintain certain standards in terms of our commitment to make the road sustainable. It’s a medium term aspiration,” he said during the signing of a partnership contract between MPT South and the United States Agency for International Development’s (USAID) Sustainable Interventions for Biodiversity, Oceans and Landscape (Sibol). In 2018, the expressway operator raised P24 billion in loans from

several banks to finance the construction of the Calax, which is expected to be completed within the next three years. Calax is a 45-kilometer highspeed road network connecting the two provinces of Cavite and Laguna, targeting to serve around 45,000 motorists upon its completion. As of today, Calax operates from Biñan, Laguna up to the east of Silang, Cavite. “When we are ready we will consider looking at green financing to refinance our existing loans,” Lizo said, noting that some of the considerations for this initiative include

the completion of the project and meeting sustainability goals. Meanwhile, MPT South VP Cynthia Casino said the partnership with USAID Sibol will help accelerate the sustainability initiatives of the group. Under the partnership, the two groups will develop a biodiversity program initially for Calax. “Our intention is to pilot Calax and expand this into our other expressway,” she said. MPT South is part of the Metro Pacific Tollways Corp., the largest expressway operator in the Philippines with holdings in various thoroughfares in Luzon and Visayas.

‘Yanson matriarch is special administrator’ By VG Cabuag @villygc

livia V. Yanson, the matriarch of the family that operates the country’s largest bus company, has been appointed by a Bacolod court as the special administrator of the estate left by her late spouse. As special administrator, Olivia is in charge of the preservation and management of the estate of her late husband Ricardo B. Yanson. The court issued the order in late October. Spouses Ricardo and Olivia founded the Ceres bus lines with Vallacar Transit Inc. as its flagship company in the late 60s. It started as a lone 14-seater jeepney plying a single route and now is the country's largest bus liner with more than 800 units. Olivia, in her capacity as special administrator and conjugal co-owner, then led the annual

stockholders meeting of Vallacar Transit at its principal office in Brgy. Mansilingan, Bacolod over the weekend. Yanson, her son Leo Rey V. Yanson, Ginnette Y. Dumancas, Charles M. Dumancas, Anita G. Chua, Arvin John V. Villaruel and Daniel Nicolas Golez were re-elected as members of board of directors of the company. “The newly appointed board is excited to see how they can continue to push boundaries to provide quality transportation to every Filipino despite the challenges of the pandemic,” the company said in a statement. The company said that despite all the turbulence experienced by the management in the past two years, it remains strong and resilient and continues to operate despite the economic effects of the pandemic. Following the election of the directors, the board held an orga-

nizational meeting in which Leo Rey was re-appointed as chairman of the board and president of Vallacar Transit while Olivia was reappointed as corporate secretary and treasurer. The company said that despite the proper notice, Olivia's other children and also stockholders Roy V. Yanson, Ma. Lourdes Celina Yanson-Lopez, Ricardo V. Yanson Jr., Juan Manuel Lopez and Ma. Susan F. Yanson did not attend the meeting. The company alleged that the siblings were hiding abroad since March 2020 as cases were filed against them by Olivia's camp. The Yanson four wrest control over the bus company in 2019 after they unseated their youngest brother Leo Rey from his post as the group's president, which started a family feud between the two camps. The matriarch camp later was able to regain control of the bus company.

Globe migrating all customers to fiber by next year—exec

lobe Telecom Inc. said on Monday it will migrate all of its broadband customers to fiber by next year, as it gears towards capitalizing on the growing demand for home Internet connectivity amid the pandemic. Barbie Dapul, the VP for Marketing of Globe At Home, said the group’s target comes after Globe exceeded its 2021 migration target by more than 250 percent. Globe has been migrating its broadband customers from DSL and LTE to fiber for over a year now. By yearend, Globe aims to install 1.4 million fiber-to-the-home lines. "By 2022, all of our customers will be able to enjoy fast fiber technology capable of handling the present and future needs of the household. We will continue to guide them for an easy and smooth

transition," Dapul said. Customers on fiber enjoy faster upload and download speeds versus those who are still using copper or hybrid copper technology. Aside from upgrading the lines of its existing customers, Globe is also enticing new ones through free access to a variety of digital services and products such as subscriptions to Viu, HBO Go, Amazon Prime Video, Upstream, WeTV, and KonsultaMD. Globe said its latest internal survey conducted on customers who shifted to fiber shows customer satisfaction has already increased by 45 points. The company's core net income in January to September rose by 17 percent to P18.3 billion from P15.6 billion the year prior as demand for Internet connection continued to rise due to the pandemic. Lorenz S. Marasigan

Companies BusinessMirror

Tuesday, December 7, 2021

Del Monte to raise $90M via senior notes offering

By VG Cabuag

@villygc

ampos-led Del Monte Pacific Ltd. (DMPL) is set to issue some $90 million in three-year unrated senior notes offshore, its first issuance in the international debt markets.

The debt carries a fixed coupon rate of 3.75 percent, payable semiannually. The notes were priced with a yield of 4 percent at a reoffer price of 99.3 percent. Credit Suisse acted as sole global coordinator and Union Bank of the Philippines acted as domestic lead manager. “Approval in-principle has been received for the listing of the notes on the Singapore Exchange Securi-

ties Trading Limited,” it said. The company does not need to secure approval from the Securities and Exchange Commission in the Philippines since will the offer the notes overseas. The company's United States unit, Del Monte Foods Inc., earlier secured a ratings upgrade from S&P Global Ratings as it continues to demonstrate improvement in operating performance, achieving

an 11-percent revenue growth and higher profitability in its first fiscal quarter. “We believe the company will sustain leverage under the mid-5 times area and that it has the ability to generate positive free cash flow,” the company said. “As a result, we raised our issuer credit rating on Del Monte to 'B' from 'B-'. We also raised our issue-level rating on its debt to 'B' from 'B-'. The recovery rating remains '3', indicating our expectation for meaningful (50 percent to 70 percent; rounded estimate: 65 percent) recovery in the event of a default.” The company said the stable outlook reflects its forecast for strong revenue growth and its expectation it will be able to offset inflation headwinds with productivity and pricing actions such that leverage will be in the low-3 times area in

fiscals 2022 and 2023. "We also expect at least break-even free cash flow generation in 2022 and above $50 million in 2023." Del Monte Philippines Inc., the local unit of DMPL, reported in September that its income grew 33 percent to P1.3 billion in the first quarter of fiscal year 2022 ending July mainly due to the increase in its international sales. Sales rose 16 percent to P8.6 billion for the period led by the international market. The Philippines accounted for more than half of DMPI’s sales, while the balance came from the international market. Del Monte’s international sales grew 37 percent to P3.3 billion on robust sales of packaged fruit and beverages, including premium packaged pineapple in the United States, and S&W packaged products in Asia.

EasyCall to complete acquisition of TESI

asyCall Communications Philippines Inc. on Monday said it is set to complete its acquisition of Transnational EBusiness Solutions Inc. (TESI), a

technology company that specializes in software development, software as a service, and information technology outsourcing. Plans for the acquisition were approved by the company's board earlier this month. The company is set to complete the deal by January. EasyCall, known for its pagers in the 1990s but its business rapidly ebbed at the onset of text messaging service, has since shifted its focus into becoming a data technology company, and is keen on expanding its service offerings in the digital

space through the acquisition of TESI. “We see synergy between EasyCall and TESI, having EasyCall directly own TESI, and we hope to expand our services to help businesses unlock their potential through digital transformation,” EasyCall President Zaki Antoni H. Delgado said. “We are very optimistic that through this new development with TESI, we can build on our culture of innovation and provide the best digital solutions that address the needs of our customers." For 20 years, TESI has been assisting local and international companies to innovate digitally and has over 100 technology professionals

specializing in agile delivery and professional services, with vast experience in developing web and mobile applications. TESI ensures solutions are built to scale and suited to the business needs of micro, small and medium enterprises to enterprise level corporations. TESI is 50 percent owned by the Delgado holding company, Transnational Diversified Corp., and 50 percent by TDG Ventures Inc., which is also the biggest shareholder of EasyCall at 88.03 percent. The company said the acquisition of TESI is seen to “add to the overall business scale and capabilities of the EasyCall Group.” VG Cabuag

mutual funds

December 3, 2021

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

224.94

-0.61%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6234

-3.24%

-1.35%

-0.99%

25.89%

5.07%

3.72%

23.64%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1208

-0.16%

-6.85%

-4.2%

-0.39%

Climbs Share Capital Equity Investment Fund Corp. -a 0.75

-5.87%

-5.44% n.a.

-7.73%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7741 2.88%

-1.91% n.a.

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

2.27%

-1.11%

0.4%

1.81%

0.7532

-0.8%

-3.27%

-3.22%

5.0308

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

4.38%

-2.99% MBG Equity Investment Fund, Inc. -a

94.64

PAMI Equity Index Fund, Inc. -a

46.1964

-0.65%

-1.71%

0.22%

-1.37%

Philam Strategic Growth Fund, Inc. -a

483.17

-0.82%

-1.75%

-0.46%

-1.18%

Philequity Alpha One Fund, Inc. -a,d

-3.28%

1.134

-5.83% n.a.

5.98% n.a. n.a.

Philequity Dividend Yield Fund, Inc. -a

1.2836

11.11%

1.08%

1.77%

Philequity Fund, Inc. -a

35.2097

2.62%

-0.98%

0.93%

3.34% 9.88% 1.27%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9059

Philequity PSE Index Fund Inc. -a

4.7613

0.16%

-0.93%

794.9

-0.03%

-0.95%

Soldivo Strategic Growth Fund, Inc. -a

0.728

1.14%

-5.14%

-2.34%

1.27%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6234

0.76%

-3.63%

-0.76%

-0.01%

-1.3%

0.62%

-1.23%

Philippine Stock Index Fund Corp. -a

-0.35% n.a. n.a.

-7.1%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9064 - 0.45% United Fund, Inc. -a

3.3299

0.8%

-1.4%

-0.78%

0.93%

-0.62%

0.87%

-0.84%

1.45%

0.34%

-0.74%

1.36%

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

106.9091

0.06%

-0.6%

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

$1.1283

-3.55%

5.06%

5.5%

-6.2%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8034

10.69%

14.71%

11.88%

7.81%

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

1.6597

0.78%

0.32%

-0.09%

-0.53%

ATRAM Philippine Balanced Fund, Inc. -a

2.2231

-1.47%

0.52%

0.09%

-2.73%

First Metro Save and Learn Balanced Fund Inc. -a 2.6422

0.9%

1.64%

1.79%

0.58%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2032

2.68% n.a. n.a.

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

1.9746

0.71%

2.57%

2.16%

0.38%

PAMI Horizon Fund, Inc. -a

3.6832

-2.34%

1.63%

1.04%

-2.82%

Philam Fund, Inc. -a

16.4922

-2.18%

1.45%

0.92%

-2.64%

Solidaritas Fund, Inc. -a

2.0767

-0.38%

0.48%

0.78%

-0.69%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5515 -0.05%

-0.88%

0.41%

-0.61%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9757

-3.99% n.a. n.a.

-4.59%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9152

-3.24% n.a. n.a.

-3.58%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9035

-2.73% n.a. n.a.

-3.17%

Sun Life Prosperity Dynamic Fund, Inc. -a

4.34%

0.9218

-0.24%

0.56%

2.57%

3.84%

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

$0.0376

-3.93%

2.53%

1.48%

-3.84%

PAMI Asia Balanced Fund, Inc. -b

-5.96%

3.68%

3.49%

-6.73%

7.28%

10.85%

8.76%

4.78%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.1895 0.44%

$1.054

5.66%

4.35%

-1.06%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7285

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

373.59

0.97%

2.93%

2.61%

1.9245

1.38%

1.29%

0.35%

1.27%

Cocolife Fixed Income Fund, Inc. -a

3.2424

3.1%

3.97%

0.84%

-2.01%

ATRAM Corporate Bond Fund, Inc. -a

Ekklesia Mutual Fund Inc. -a

2.2459

0.67%

1.82%

1.7%

-1.1%

3.14%

1.86%

-1.35%

Philam Bond Fund, Inc. -a

4.3868

-5.21%

3.97%

1.87%

-5.25%

Philam Managed Income Fund, Inc. -a

1.3161

-0.04%

3.76%

2.71%

-0.39%

Philequity Peso Bond Fund, Inc. -a

3.9527

-0.66%

4.21%

2.61%

-1.21%

Soldivo Bond Fund, Inc. -a

1.0246

-1.11%

4.81%

2.3%

-1.81%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1727

-0.43%

4.67%

3.71%

-1.04%

Sun Life Prosperity GS Fund, Inc. -a

-1.19%

3.85%

3.06%

-1.89%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.42

1.7218

-2.28%

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

$488.46

2.99%

2.48%

ALFM Euro Bond Fund, Inc. -a

Є219.49

0.39%

1.1%

0.94%

0.12%

$1.199

-5.54%

2.21%

1.73%

-6.31%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 -2.26%

1.46%

0.95%

-2.63% -6.85%

ATRAM Total Return Dollar Bond Fund, Inc. -b

1.17%

0.92%

PAMI Global Bond Fund, Inc -b

$1.0153

-7.17%

-0.27%

-0.79%

Philam Dollar Bond Fund, Inc. -a

$2.4865

-1.65%

5.08%

2.79%

Philequity Dollar Income Fund Inc. -a

$0.0623569

0.35%

3.08%

2.05%

0.09%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1575 -1.59%

3.27%

1.63%

-2.05%

-2.11%

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

2.56%

0.95%

First Metro Save and Learn Money Market Fund, Inc. -a 1.057 0.95% n.a. n.a.

0.85%

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

131.05 1.3141

1.13% 1.49%

2.86% 2.64%

2.53%

1.33%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0601

0.8%

1.47% n.a.

0.62%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.3504

22.64% n.a. n.a.

PSE STOCK QUOTATIONS

December 6, 2021

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL IREMIT MANULIFE NTL REINSURANCE PHIL STOCK EXCH

19,100 835,650 4,894,730 590,296,811 2,928,120 272,625,799.50 123,200 3,116,415 334,300 3,112,893 3,363,700 169,492,000 13,100 115,270 22,700 390,440 203,400 4,064,868 3,300 189,907.50 31,200 593,190 487,450 57,918,087 89,140 8,825,032 4,168,000 7,117,150 21,000 84,580 12,000 11,180 100 97,520 2,000 1,360 1,880 386,696

-297,500 143,180,171 117,545,643.50 12,650 -576,032 -5,834,360 101,200 -57,940.00 8,557,108 -1,051,967.50 -70,400 -41,400

INDUSTRIAL AC ENERGY 10.94 11 11.14 11.34 10.84 11 36,277,500 397,348,824 ALSONS CONS 1.08 1.14 1.08 1.14 1.08 1.14 2,501,000 2,701,140 ABOITIZ POWER 30 30.15 30 30.3 29.75 30.15 563,400 16,933,130 BASIC ENERGY 0.63 0.64 0.66 0.66 0.63 0.63 7,612,000 4,901,890 FIRST GEN 28.75 29 28.4 29.1 28.4 28.75 17,400 498,190 FIRST PHIL HLDG 72.35 73 73.3 73.3 72.35 72.35 111,680 8,085,084.50 MERALCO 295 295.8 295 297 294.2 295 176,560 52,128,702 MANILA WATER 25.15 25.2 24.1 25.3 24.1 25.15 2,181,000 54,433,260 PETRON 3.17 3.18 3.22 3.22 3.18 3.18 750,000 2,400,390 PETROENERGY 3.97 4 3.9 4.05 3.9 4.03 39,000 153,820 PHX PETROLEUM 10.94 11.44 10.66 11.48 10.66 11.48 2,100 24,006 PILIPINAS SHELL 19.94 20.25 20 20.7 19.8 19.94 458,900 9,256,267 SPC POWER 13.78 13.98 14 14 13.7 13.98 129,400 1,792,858 AGRINURTURE 3.88 4 4.02 4.02 3.83 4 136,000 538,500 AXELUM 2.92 2.97 2.99 3 2.92 2.97 3,783,000 11,301,330 CNTRL AZUCARERA 13.2 13.8 13.2 13.8 13.2 13.8 1,400 18,600 CENTURY FOOD 26 26.15 26 26.15 26 26 986,900 25,686,260 DEL MONTE 14.14 14.3 14.36 14.36 14.14 14.3 14,700 209,748 DNL INDUS 8.69 8.7 8.55 8.76 8.51 8.7 1,693,700 14,719,026 EMPERADOR 18 18.06 18.02 18.14 17.96 18 3,125,100 56,271,008 SMC FOODANDBEV 74.3 74.35 75.1 75.1 74.35 74.35 36,830 2,742,973 ALLIANCE SELECT 0.54 0.6 0.57 0.57 0.52 0.57 105,000 59,750 FRUITAS HLDG 1.24 1.25 1.25 1.25 1.23 1.25 2,610,000 3,226,520 GINEBRA 105.3 105.8 105 106 101 105.8 51,420 5,400,542 JOLLIBEE 227 229.8 223.2 231.8 223.2 227 803,350 184,029,922 LIBERTY FLOUR 27.3 28.95 27.5 28.95 27.25 27.25 1,000 27,685 MAXS GROUP 6.55 6.6 6.48 6.6 6.45 6.6 43,400 282,293 MG HLDG 0.145 0.159 0.144 0.159 0.144 0.159 130,000 19,240 MONDE NISSIN 16.48 16.5 16.78 16.94 16.5 16.5 13,654,200 228,710,074 SHAKEYS PIZZA 8.9 9 8.7 9.12 8.7 9 119,800 1,081,202 ROXAS AND CO 0.64 0.65 0.67 0.67 0.64 0.65 1,258,000 821,060 RFM CORP 4.61 4.64 4.58 4.58 4.58 4.58 1,000 4,580 SWIFT FOODS 0.113 0.115 0.115 0.115 0.11 0.11 250,000 28,590 UNIV ROBINA 132.3 132.5 130 132.7 130 132.3 1,400,240 185,238,222 VITARICH 0.74 0.75 0.72 0.75 0.72 0.74 373,000 273,980 VICTORIAS 2.28 2.4 2.4 2.4 2.4 2.4 8,000 19,200 CONCRETE B 50.05 56.95 50.05 50.05 50.05 50.05 110 5,505.50 CEMEX HLDG 1.17 1.19 1.19 1.19 1.17 1.18 389,000 458,940 EAGLE CEMENT 13.72 14.36 14 14.6 13.7 14.42 48,900 690,816 EEI CORP 6.5 6.6 6.43 6.5 6.43 6.5 50,600 328,013 HOLCIM 5.2 5.28 5.35 5.48 5.15 5.2 508,600 2,675,657 KEEPERS HLDG 1.51 1.52 1.5 1.53 1.48 1.51 22,031,000 33,239,220 MEGAWIDE 5.35 5.36 5.29 5.44 5.25 5.36 362,500 1,926,861 PHINMA 18.5 18.98 18.44 18.98 18.42 18.98 563,800 10,431,646 TKC METALS 0.83 0.86 0.85 0.86 0.83 0.83 251,000 210,880 VULCAN INDL 0.95 0.96 0.97 0.98 0.95 0.96 587,000 564,190 CROWN ASIA 1.71 1.73 1.71 1.73 1.7 1.73 20,000 34,130 EUROMED 1.47 1.48 1.47 1.51 1.47 1.48 80,000 118,710 MABUHAY VINYL 3.71 4.28 4.1 4.3 3.8 3.8 12,000 47,640 PRYCE CORP 5.8 5.85 5.86 5.86 5.8 5.85 45,000 263,434 CONCEPCION 20.9 21.2 21.65 21.65 21.2 21.2 500 10,690 GREENERGY 2.35 2.37 2.32 2.41 2.32 2.37 6,552,000 15,599,220 INTEGRATED MICR 8.48 8.49 8.52 8.56 8.48 8.49 266,300 2,267,389 PANASONIC 5.88 5.99 5.94 5.99 5.89 5.89 23,900 140,951 SFA SEMICON 1.07 1.12 1.1 1.12 1.07 1.12 22,000 24,170 CIRTEK HLDG 3.88 3.92 3.84 3.95 3.66 3.92 1,623,000 6,171,320

23,069,218 -2,700,000 709,265 67,140 -80,285 -6,633,231.50 -11,903,184 -13,692,285 -1,654,200 -78,000 1,688,529.00 -535,396 -38,900.00 -7,828,470 1,414 -76,684 6,770,422 -374,420.50 -12,300 1,551,226 -4,467,962 48,205 -89,191,370 27,000 263,380 -82,123,450 -24,258 -301,375 2,456,380 -190,445 -58,200 17,100 43,870 1,077,004 93,850

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS ZEUS HLDG

43.95 120 93 25.45 9.3 50.5 8.72 15.92 19.96 57.1 19.1 119 98.7 1.72 4.05 0.94 950 0.6 206.6

0.95 5.72 832 53.2 11.34 5.87 7.43 0.89 0.4 5.09 7.89 7.52 561 3.5 56 6.1 0.63 2.93 9.95 0.37 3.88 2.84 1.22 1.11 14.8 935 112.3 125 0.24 0.169

45.8 120.3 93.8 25.5 9.31 51 8.8 17.2 20 57.5 19.9 119.1 99 1.73 4.08 1.07 980 0.67 207

0.97 5.96 833.5 53.25 11.36 5.88 7.5 0.91 0.425 5.12 7.9 7.79 562.5 3.58 56.8 6.2 0.66 3.11 9.98 0.39 3.89 2.94 1.3 1.17 14.88 935.5 113 126 0.255 0.179

43.8 120 90.8 25.3 9.34 49.45 8.7 17.2 20.15 57.6 19 116 100 1.55 3.99 0.91 950 0.69 207

0.96 5.8 838 51.4 11.08 5.58 7.5 0.9 0.43 5.07 7.97 7.8 560 3.58 56.8 6.1 0.63 3.14 9.99 0.375 3.87 2.91 1.2 1.17 15 949 113.1 126 0.232 0.17

43.8 123 93.8 25.45 9.34 51 8.8 17.2 20.15 57.6 19.9 119 100.8 1.76 4.08 0.95 978 0.69 207

0.99 5.97 841 53.25 11.46 5.87 7.5 0.91 0.43 5.13 8.05 7.99 572.5 3.58 57.8 6.1 0.66 3.14 10.04 0.375 3.93 2.95 1.21 1.17 15.08 951 113.1 126 0.24 0.17

43.75 120 90.75 25 9.3 49 8.7 17.2 19.92 57.5 19 116 97 1.51 3.99 0.91 950 0.67 205

0.95 5.8 830 50.55 11.08 5.58 7.5 0.9 0.4 5.07 7.89 7.8 560 3.58 56 6.1 0.63 3.14 9.94 0.375 3.87 2.85 1.2 1.17 14.8 930.5 112.2 126 0.232 0.17

43.75 120 93.8 25.45 9.3 51 8.8 17.2 19.96 57.5 19.9 119 99 1.72 4.05 0.94 978 0.67 207

0.97 5.97 832 53.2 11.36 5.87 7.5 0.91 0.4 5.09 7.89 7.8 561.5 3.58 56 6.1 0.66 3.14 9.95 0.375 3.89 2.85 1.21 1.17 14.8 935 113 126 0.24 0.17

1,609,000 5,600 149,210 2,536,140 3,320,000 12,670,100 19,500 201,000 50,000 438,000 2,567,400 15,000 135,590 1,000 2,165,340 4,200 134,000 3,000 5,240,900 20,000 11,757,000 62,000 30,000 1,000 4,714,500 169,180 564,250 4,840 140,000 1,410,000

1,539,350 33,322 124,325,795 134,229,951.50 37,711,524 73,480,111 146,250 180,910 21,200 2,235,950 20,404,272 117,190 76,617,220 3,580 123,118,776 25,620 84,510 9,420 52,289,409 7,500 45,832,130 177,760 36,100 1,170 70,322,122 158,457,220 63,345,427 609,840 32,880 239,700

PROPERTY ARTHALAND CORP 0.62 0.63 0.63 0.63 0.63 0.63 5,000 3,150 AYALA LAND 35.45 35.5 34.55 35.55 34.5 35.5 5,227,600 184,684,030 ARANETA PROP 0.98 1.02 0.98 0.98 0.98 0.98 1,000 980 AREIT RT 46.5 47 47.9 48 46.5 46.65 308,900 14,576,835 BELLE CORP 1.34 1.38 1.34 1.38 1.34 1.34 304,000 409,160 A BROWN 0.78 0.8 0.81 0.81 0.79 0.8 28,000 22,250 CROWN EQUITIES 0.103 0.109 0.107 0.109 0.101 0.109 1,920,000 198,770 CEBU HLDG 6.13 6.5 6.5 6.5 6.5 6.5 16,800 109,200 CEB LANDMASTERS 2.82 2.84 2.81 2.85 2.81 2.82 372,000 1,050,010 CENTURY PROP 0.395 0.4 0.405 0.405 0.39 0.395 940,000 371,950 DOUBLEDRAGON 7.27 7.28 7.5 7.5 7.26 7.28 855,200 6,274,322 DDMP RT 1.81 1.82 1.79 1.82 1.79 1.81 5,384,000 9,691,870 DM WENCESLAO 6.9 6.92 6.85 6.92 6.85 6.92 43,600 300,562 EMPIRE EAST 0.265 0.27 0.27 0.27 0.27 0.27 170,000 45,900 EVER GOTESCO 0.31 0.32 0.31 0.325 0.31 0.32 5,750,000 1,817,050 FILINVEST RT 7.7 7.75 7.72 7.77 7.69 7.75 6,831,900 52,953,614 FILINVEST LAND 1.11 1.12 1.1 1.12 1.1 1.11 2,501,000 2,763,220 GLOBAL ESTATE 0.82 0.83 0.83 0.83 0.83 0.83 248,000 205,840 8990 HLDG 10.36 10.66 10.7 10.7 10.66 10.66 19,300 206,378 PHIL INFRADEV 1.18 1.19 1.18 1.2 1.18 1.19 864,000 1,030,800 CITY AND LAND 0.94 1 1.05 1.05 0.94 0.94 448,000 449,730 MEGAWORLD 3.15 3.16 3.09 3.15 3.09 3.15 9,347,000 29,187,570 MRC ALLIED 0.265 0.27 0.27 0.275 0.265 0.27 3,250,000 874,750 MREIT RT 18.28 18.3 18.32 18.32 18.28 18.3 2,562,500 46,900,192 PHIL ESTATES 0.51 0.53 0.54 0.54 0.51 0.51 5,506,000 2,877,940 PRIMEX CORP 1.97 1.98 2.04 2.04 1.89 1.98 513,000 990,560 RL COMM RT 7.33 7.34 7.39 7.4 7.33 7.34 5,755,700 42,295,083 ROBINSONS LAND 18.22 18.4 18 18.4 17.9 18.4 1,313,700 23,984,800 PHIL REALTY 0.211 0.217 0.21 0.218 0.21 0.211 220,000 47,110 ROCKWELL 1.49 1.55 1.55 1.55 1.5 1.5 91,000 139,200 SHANG PROP 2.6 2.62 2.62 2.62 2.62 2.62 6,000 15,720 STA LUCIA LAND 2.74 2.9 2.9 2.9 2.9 2.9 31,000 89,900 SM PRIME HLDG 35.7 35.8 35.7 35.75 35 35.7 2,101,300 74,955,250 SUNTRUST HOME 1.19 1.21 1.22 1.24 1.17 1.22 224,000 271,630 VISTA LAND 3.7 3.72 3.74 3.74 3.66 3.72 392,000 1,446,850 SERVICES ABS CBN 12.9 13 13.04 13.06 13 13 76,300 993,406 GMA NETWORK 13.74 13.76 13.84 13.84 13.7 13.76 189,800 2,612,098 MLA BRDCASTING 9 10.4 10.4 10.4 10.4 10.4 100 1,040 GLOBE TELECOM 3,242 3,318 3,280 3,356 3,242 3,242 95,685 315,086,830 PLDT 1,691 1,698 1,625 1,699 1,625 1,698 132,430 222,729,580 APOLLO GLOBAL 0.077 0.078 0.074 0.079 0.073 0.077 242,850,000 18,577,690 CONVERGE 32.4 32.5 31.5 32.5 31.5 32.5 12,877,100 414,458,390 DFNN INC 2.85 2.87 2.58 3.13 2.55 2.87 2,019,000 5,777,250 DITO CME HLDG 6.11 6.12 5.73 6.15 5.73 6.11 10,667,800 64,200,419 IMPERIAL 1.42 1.49 1.42 1.42 1.42 1.42 10,000 14,200 NOW CORP 1.54 1.55 1.54 1.56 1.53 1.54 195,000 300,990 TRANSPACIFIC BR 0.305 0.31 0.31 0.325 0.31 0.31 1,780,000 559,650 PHILWEB 1.88 1.9 1.86 1.9 1.77 1.9 203,000 370,320 2GO GROUP 7.6 7.85 7.6 7.7 7.6 7.7 1,300 9,900 ASIAN TERMINALS 13.8 14 14 14 13.9 13.9 4,000 55,800 CHELSEA 1.64 1.67 1.68 1.68 1.62 1.64 553,000 914,670 CEBU AIR 44.1 44.4 43.9 45 43.9 44.15 150,100 6,666,115 INTL CONTAINER 199.6 199.9 197 201.6 195.3 199.9 1,603,120 320,649,861 MACROASIA 5.58 5.6 5.35 5.64 5.35 5.6 1,413,500 7,887,798 METROALLIANCE A 1.3 1.31 1.31 1.31 1.31 1.31 13,000 17,030 HARBOR STAR 0.91 0.92 0.92 0.92 0.92 0.92 39,000 35,880 ACESITE HOTEL 1.42 1.49 1.49 1.49 1.49 1.49 4,000 5,960 DISCOVERY WORLD 1.98 2 1.96 2 1.95 1.98 94,000 184,910 WATERFRONT 0.47 0.48 0.47 0.47 0.47 0.47 20,000 9,400 FAR EASTERN U 531 590 531 531 531 531 37,490 19,907,190 IPEOPLE 7.01 7.47 7.47 7.47 7.47 7.47 1,500 11,205 STI HLDG 0.35 0.355 0.355 0.355 0.35 0.355 2,520,000 886,550 BERJAYA 6.86 6.88 7.8 7.85 6.88 6.88 793,500 5,683,120 BLOOMBERRY 7.04 7.1 7.09 7.13 6.98 7.1 7,609,700 53,797,655 PACIFIC ONLINE 1.88 2 1.96 2.05 1.96 2.05 65,000 131,460 LEISURE AND RES 1.51 1.54 1.5 1.54 1.5 1.54 8,000 12,220 PH RESORTS GRP 0.84 0.86 0.82 0.86 0.82 0.84 385,000 322,060 PREMIUM LEISURE 0.435 0.445 0.445 0.445 0.44 0.44 1,000,000 441,800 ALLDAY 0.7 0.71 0.7 0.72 0.7 0.71 40,267,000 28,505,740 ALLHOME 9.6 9.66 9.44 9.6 9.44 9.6 253,200 2,413,384 METRO RETAIL 1.42 1.43 1.43 1.43 1.41 1.43 1,162,000 1,651,260 PUREGOLD 40.25 40.3 39.7 40.6 39.2 40.3 407,800 16,399,715 ROBINSONS RTL 63.6 63.9 63.3 64 63.25 63.9 343,640 21,874,975 PHIL SEVEN CORP 88.7 92.8 92.95 92.95 92.95 92.95 20 1,859 SSI GROUP 1.15 1.16 1.16 1.16 1.12 1.15 1,200,000 1,374,850 WILCON DEPOT 31 31.2 30.5 31.3 30.5 31 1,564,300 48,486,435 APC GROUP 0.225 0.238 0.23 0.238 0.21 0.238 470,000 104,630 EASYCALL 5 5.1 5.9 5.9 4.97 5.1 37,200 206,881 IPM HLDG 7 7.04 7.02 7.04 7 7.04 18,800 131,946 PRMIERE HORIZON 0.63 0.64 0.64 0.66 0.63 0.64 7,987,000 5,141,090 SBS PHIL CORP 3.85 4.05 3.85 3.85 3.85 3.85 1,000 3,850 MINING & OIL ATOK 5.72 5.75 5.8 5.8 5.57 5.75 5,200 29,405 APEX MINING 1.36 1.39 1.36 1.37 1.36 1.36 185,000 251,630 ATLAS MINING 6.02 6.03 6.05 6.1 6 6.02 879,900 5,309,750 BENGUET A 5.01 5.25 5.1 5.1 5 5.01 127,100 636,924 BENGUET B 4.81 5.09 4.83 4.83 4.81 4.81 243,000 1,169,130 COAL ASIA HLDG 0.27 0.28 0.27 0.27 0.27 0.27 410,000 110,700 FERRONICKEL 2.06 2.07 2.07 2.12 2.06 2.06 1,457,000 3,036,500 GEOGRACE 0.194 0.2 0.191 0.2 0.191 0.2 150,000 29,100 LEPANTO A 0.126 0.128 0.128 0.128 0.123 0.125 1,470,000 183,640 LEPANTO B 0.129 0.139 0.13 0.14 0.128 0.13 1,040,000 135,120 MANILA MINING A 0.0086 0.0087 0.0087 0.0087 0.0087 0.0087 13,000,000 113,100 MARCVENTURES 1.2 1.23 1.27 1.27 1.2 1.2 614,000 744,870 NICKEL ASIA 5 5.03 5.16 5.16 5 5 2,450,000 12,474,996 ORNTL PENINSULA 0.72 0.73 0.74 0.74 0.73 0.73 86,000 63,030 PX MINING 4.75 4.89 4.75 4.9 4.71 4.89 389,000 1,844,180 SEMIRARA MINING 22.35 22.4 22.5 22.7 22.25 22.35 339,700 7,612,060 UNITED PARAGON 0.006 0.0062 0.0059 0.0061 0.0059 0.0061 4,000,000 24,000 ACE ENEXOR 29 29.4 27.75 29.75 27.5 29.4 1,553,000 44,911,775 ORNTL PETROL A 0.01 0.011 0.01 0.01 0.01 0.01 22,300,000 223,000 ORNTL PETROL B 0.01 0.011 0.012 0.012 0.01 0.01 633,900,000 6,345,100 PHILODRILL 0.0088 0.0091 0.0088 0.009 0.0087 0.009 25,000,000 220,200 PXP ENERGY 6.19 6.3 6.14 6.31 6.14 6.3 247,800 1,547,300 PREFFERED HOUSE PREF B 99.6 101 101 101 101 101 10 1,010 HOUSE PREF A 100.5 101 100.5 101 100.5 101 1,750 176,725 AC PREF B1 515 526.5 514 514 514 514 10 5,140 ALCO PREF D 480.4 505 505 505 505 505 1,100 555,500 AC PREF B2R 505 515 506 525 496 525 4,010 2,007,790 BRN PREF A 100.2 100.8 100.6 100.8 99.85 100.8 32,650 3,270,212 CEB PREF 43.8 44.45 43.3 44.45 43.2 44.45 29,400 1,285,940 CPG PREF A 102.6 103 102.5 103 102.5 103 3,100 317,800 DD PREF 100.6 100.8 100.7 100.7 100.4 100.4 8,000 804,360 FGEN PREF G 105.4 109.5 105.4 109.5 102.5 109.5 29,720 3,062,999 JFC PREF A 998 1,000 1,000 1,000 1,000 1,000 5 5,000 JFC PREF B 1,015 1,025 1,015 1,015 1,015 1,015 1,000 1,015,000 MWIDE PREF 4 98.4 100.5 100.6 100.6 100.6 100.6 90 9,054 PNX PREF 3B 104 104.5 104.5 104.5 104.5 104.5 1,660 173,470 PNX PREF 4 997 1,000 997 1,000 997 1,000 17,220 17,200,080 PCOR PREF 3A 1,054 1,100 1,108 1,108 1,054 1,054 410 432,680 PCOR PREF 3B 1,090 1,140 1,120 1,170 1,110 1,170 1,125 1,265,750 SMC PREF 2F 79.3 79.6 79.4 79.6 79.25 79.6 7,890 626,073 SMC PREF 2H 75.85 76.95 77 77 77 77 330 25,410 SMC PREF 2I 79.55 79.8 79.55 79.55 79.55 79.55 16,790 1,335,644.50 SMC PREF 2J 76.6 77 76.6 76.6 76.5 76.6 25,000 1,914,400 SMC PREF 2K 75.5 76.4 75.55 75.55 75.5 75.5 7,000 528,703.50 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.2 12.5 12.4 12.4 12.4 12.4 200 2,480 GMA HLDG PDR 13.32 13.64 13.64 13.64 13.64 13.64 458,300 6,251,212 WARRANTS TECH WARRANT 0.85 0.87 0.86 0.88 0.81 0.85 465,000 397,660

-14,278,395 -4,417,969 5,982,610 201,669 122,616 -353,659 -14,072,235 -3,580 -51,929,203 -396,727 -12,633,640 -7,565,388 -54,331,450 -1,841,243 -238,000 45,104,680 -4,995,815 -42,250 -155,760 11,850 -580,812 141,600 -27,000 -3,150 -3,834,860 -198,520 43,818 -63,160 15,040 -4,332,780 -4,009,866 1,640,596 10,224,426 8,400 -10,850 -14,500 -8,227,230 -40,260 775,850 -58,529,130 99,268,775 -342,780 -85,958,040 306,080 491,598 44,660 15,350 778,675 28,252,253 -537,391 1,960 310,950 -7,475,703 0 331,400 849,979 -315,560 -8,923,399.50 69,600 -18,322,400 22,000 396,520 6,050 -1,169,130 -287,120 16,760 1,230 -6,128,886 -313,060 -547,230 -102,650 17,500 -85,492 14,000 -5,000 11,080 - - -

SMALL & MEDIUM ENTERPRISES

19.55% Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -a,d

www.businessmirror.com.ph

$0.96

-1.03% n.a. n.a.

-2.04%

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 (NAVPU). 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

ALTUS PROP ITALPINAS KEPWEALTH MAKATI FINANCE MERRYMART

17.82 2.42 3.35 2.45 2.87

FIRST METRO ETF

108.4

18 2.46 3.48 2.47 2.88

EXHANGE TRADE FUNDS

109

18.48 2.43 3.48 2.47 2.91

18.48 2.59 3.48 2.47 2.91

17.8 2.39 3.48 2.47 2.8

17.82 2.46 3.48 2.47 2.88

46,300 4,291,000 3,000 13,000 3,421,000

829,022 10,671,860 10,440 32,110 9,822,870

-12,400 1,060,880

108.5 109 108.1 108.4 23,480 2,548,115 -1,570,267

www.businessmirror.com.ph

BTr raises ₧10B from T-bills sale

HE Bureau of the Treasury raised P10 billion from its auction of Treasury Bills (T-bills) with investors preferring short-term government securities. The auction was more than four times oversubscribed as the tenors attracted total bids of P41.3 billion. Average rates during Monday’s auction ended up moving sideways and were also lower than the secondary market benchmark rates. National Treasurer Rosalia V. De Leon told reporters after the auction that the rates were slightly lower for the 92-day and 183-day T-bills and less than a basis point higher for the 365day security. In terms of investor appetite, De Leon said the market is still anticipating the inflation print for the month of November as investors weigh the risks posed by the Omicron variant of Covid-19. The new variant, which has been dubbed by the World Health Organization as a “variant of concern,” has already been detected in 38 countries. Analysts fear a new wave of infection would prompt the imposition of lockdown measures that would curtail the economic-recovery momentum expected to gain headway this season. “Bias continues on short-end with Omicron uncertainties,” De Leon has said. R ates fetched by the 92-day T-bills averaged 1.155 percent, down by 0.9 basis points ( bps) from the previous auction’s 1.164 percent. Tenders for the security reached P13.3 billion, exceeding the P2-billion offering by more than six times. Meanwhile, the 183-day Tbills’ average rate slid by 0.6 bps to 1.443 percent from 1.449 percent. Bids for the tenor hit P16.01 billion or five times the P3-billion offered. The average rate of 365-day T-bills posted an uptick of 0.7 bps to reach 1.643 percent from 1.636 percent in the last auction. The debt paper recorded total bids of P11.97 billion, more than twice the P5-billion set for the tenor. For this month, the Treasury programmed to borrow P70 billion from the local debt market. The amount is smaller than previous months as government slows down in taking up debt and to stick to its annual borrowing program. Likewise, the state attempts to maintain its debt-to-gross domestic product ratio “at “sustainable levels.” The ratio measures the proportion of the country’s national debt to its GDP. As of the end of the third quarter, the debt-to-GDP ratio is already at 63.1 percent, zooming past the projected 59.1 percent target for this year. Government economists forecast the debt-to-GDP ratio 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, respectively. The Department of Finance (DOF) sees the national government returning to its pre-pandemic debt and budget deficit levels only by 2024 or by 2025, two or three years after the Duterte regime. This, however, would be achieved if the recommended fiscal measures are passed early by the next administration and if the economy quickly recovers, according to the DOF. Bernadette D. Nicolas

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Tuesday, December 7, 2021

Govt crop insurer cited as risk seeker

By Bernadette D. Nicolas

@BNicolasBM

EARLY a month after meeting with executives of the Philippine Crop Insurance Corp. (PCIC), PCIC Board Chairman and Finance Secretary Carlos G. Dominguez III expressed dismay on the risk-seeking tack of the state-run insurer. “The PCIC is the perfect example of how not to manage risks,” Dominguez was quoted as saying during his meeting with the PCIC board members last November 19. A statement from the Department of Finance (DOF) said the DOF chief learned the corporation needs to correctly price the commodities covered by its insurance after a presentation showed the PCIC has been paying out claims more than it is collecting premium payments for certain types of crops or subsectors it covers. Dominguez said the state-run firm should spread its risks and apply the best practices of other countries to improve its financial status. Land Bank of the Philippines (LandBank) President and CEO Cecilia C. Borromeo also said during the meeting that PCIC should properly assess the risks associated with different crops or subsectors so that it can correctly price the commodity

it insures. “Instead of disaggregating the sources of funds or premiums from sources like the General Appropriations Act and the Agri-Agra law [Republic Act 10000 or the Agri-Agra Reform Credit Act], can we take a look at the premiums paid for rice and corn, for example, versus hogs, versus the high-value crops, and then compare the premiums collected from these different subsectors with the claims of the same subsectors, so that PCIC can properly price per commodity or product?” Borromeo was quoted as having expressed during the meeting. According to Dominguez, the PCIC would have earned more money had the firm placed P6.8 billion of its cash assets in other higher-yielding investments. However, unnamed PCIC executives said during the meeting its cash assets were mostly in LandBank and

Prudent holiday spending

the Bureau of the Treasury (BTr). National Treasurer Rosalia V. De Leon pointed out that the cash being invested by PCIC comes from the subsidy provided by the government. Thus, according to De Leon, the PCIC’s investment in the BTr is like returning to state coffers money that earns passively by incurring interest. The DOF said Dominguez has ordered PCIC President Jovy C. Bernabe to instruct the firm’s Treasury Office handling the corporation’s investments to coordinate with the Government Service Insurance System (GSIS) in finding ways to increase the yield of PCIC’s cash assets. The finance chief was quoted as saying that the GSIS “is in a better position to assist the PCIC” as it has been efficiently handling about P1 trillion in investments for the state pension fund and its members. Apart from enhancing PCIC’s investment portfolio, Dominguez reportedly also directed the GSIS and LandBank to work with the staterun firm to find ways to efficiently manage risks. He was said to have issued the directive after finding out that the PCIC has been spending 35 centavos for every peso that goes out of the company. A DOF statement quoted GSIS President and General Manager Rolando L. Macasaet as having said that compared to the PCIC, the GSIS spends only around 3 centavos to 5 centavos for every peso it gives out. Dominguez, who chairs the Social Security Commission, said the Social Security System, for its part, spends

t rend s on g i f ts h a s ECEMBER is been made easier due traditionally a to advances in technolspecial month ogy. While traditional for many Filipinos . The cool weather and Genesis Kelly S. Lontoc gifts are still valued, there may be alternavibrant lights usher in a month of festivities. personal finance tive emerging trends that are taking place. It is a month filled with For example, the pandemic has led to celebrations and gifts. It is a month many Filipinos engaging in do-it-yourwhen families get to be together. self activities. It may be possible that Given the challenges brought about a do-it-yourself gift may be cheaper by the reeling effects of the pandemic, and be also more appreciated given it is a month that can be seen to provide the personal touch. Gifts that support a ray of hope for the coming year. Still, the environment also help remind reholiday spending must not be wanton cipients of bigger societal causes like and must not be irresponsible. There saving the earth. are a number of ways to make holiday In terms of payment, cash would spending a lot more manageable. still be king or queen. Cash makes Income must be the first considit easier to track expenses against eration. The Philippine economy has budgets. It also helps avoid impulse been in bad shape due to the negative purchases and debt. However, in the impact brought about by the pandemic. event that credit cards will be used, Many businesses have suffered and one should be cognizant of the right many Filipinos have been displaced. ways of managing credit cards. Late The tough economic conditions adpayments will just lead to cumbersome versely affect income. The lack of an emergency fund among individuals debt. Only paying the minimum balance is not recommended since highand businesses makes matters worse. er interest rates will be most likely Therefore, if income is lowered, then forthcoming. One has to be on top of spending must be lowered too. Spendcredit transactions so that there are ing more than income will most likely no loose ends. lead to debt and this will just exacerHoliday spending is usually done bate things. for families and friends. However, the A budget for holiday spending must pandemic makes us realize that we be determined at the start of every need to go beyond our social circles. year. It is okay to do holiday spending Given the struggling economy, a cerbut it must be budgeted. A total holiday spending budget can be developed tain part of holiday spending can be and it can be a reasonable percentage allocated to helping our fellow Filiof actual income and expected income. pinos who are finding a way to surA holiday spending list can then be vive and pivot. Our economy is only developed to identify the pertinent as strong as its weakest citizenry. No details of spending like recipients Filipino must be left behind in good and amounts. Having a budget makes times and bad times. Government holiday spending strategic and orgaalready has its hands full in managnized. Having a budget makes holiday ing our nation. Every contribution we spending easier to do. make matters. Time is a great ally in holiday spendExperiencing December festivities ing. The key is to plan early and execute with the reality of a lingering pandemic is an opportune time for us to early. Being able to look around for take stock of what we need to continue the best deals with respect to product, doing, stop doing and start doing with price, place and promo can possibly respect to our personal finance situlead to gains in terms of both price ation. Spending wisely will go a long and quality. For pricing, there may be way as right decisions pave the way items that can probably be bought at toward a good future. cheaper prices if they are purchased during non-peak seasons. For quality, being able to compare the various feaGenesis Kelly “Gemmy” Lontoc is a registered finantures, advantages and benefits across cial planner of RFP Philippines. To learn more about perbrands and categories can lead to the sonal-financial planning, attend the 93rd RFP program best purchases being done. this January 2022. To inquire, e-mail info@rfp.ph or text Researc h can help. Ident if y ing at 0917-6248110.

about 6 centavos for every peso going out of the pension fund. The DOF chief reportedly asked Macasaet and Borromeo to “take a lead on this.” “Let’s determine if we are doing the right thing here or do it in a way that is better,” Dominguez said. The DOF said that it was also during the meeting that De Leon reminded the PCIC that the source of its premium subsidies comes from the budget under RA 10000. The National Treasurer added that once proposed amendments to this law are passed by Congress and enacted, the PCIC would no longer be able to receive this allocation. De Leon said that under the proposed amendments to the law, a portion of the penalties paid by the banks to make up for their non-compliance with the provision to extend at least 25 percent of their total loanable funds to agriculture and agrarian reform beneficiaries would no longer go to the PCIC. The funds will instead be utilized for the lending operations of Landbank and the Development Bank of the Philippines along with the Support to the “Parcelization of Lands for Individual Titling” (Split) program of the Department of Agrarian Reform. “In this case, the PCIC would need to have a more efficient operation so that they would be able to conserve their resources to be able to provide more insurance coverage for our small farmers,” De Leon reportedly said. Macasaet was said to have proposed that the PCIC expand its base

of paying clients so that the firm can generate income from its insurance operations. Agriculture Undersecretary Fermin D. Adriano was quoted to have said that the PCIC should balance its social welfare functions with its commercial operations, “which can be harnessed as there is a big market for paying insurance clients in the high-value crops sector.” Adriano represented Agriculture Secretary William D. Dar, the vice-chairman of the PCIC board, in the meeting. The DOF said Dominguez earlier instructed the PCIC to present its revised financial statements for 2020 that conform with the Philippine Financial Reporting Standard (PFRS) 4. However, the presentation during the meeting was deferred because the corporation has yet to clear these reports with the Insurance Commission. The Board also deferred the presentation of the PCIC’s Corporate Operating Budget and Operations Manual for Rice and Corn because it has not yet been approved and endorsed by the Board’s Committee on Governance. The DOF said their chief has made it clear in previous PCIC board meetings that the government has no intention of reducing the premium subsidies being extended to the PCIC, but such funds should be used efficiently. The DOF said this is the reason the PCIC Board wants to examine the firm’s expenditures to compare these with those of other corporations engaged in insurance operations.

SB Corp. extends 13th-mo pay loan window after only 447 applied By Samuel P. Medenilla @sam_medenilla

HE Small Business Corp. (SB Corp.) announced it has extended the deadline for microscale and small firms to apply for interest-free loans to finance the 13th-month pay of their workers. SB Corp. said the decision was due to the low turnout of applicants of the program. The Department of Labor and Employment (DOLE) made the announcement last Monday after only 447 employers have applied for SB Corp.’s loan facility.

The 13th-month pay is “a mandatory benefit provided to employees pursuant to Presidential Decree 851, which requires employers to grant 13th month pay to all its rank and file employees,” according to the DOLE. Out of the said applicants, DOLE Spokesman Rolly Francia said only 125 have approved loans worth P27 million. SB Corp. allocated P500 million for the lending window to help between 6,000 to 7,000 small-scale and micro-scale companies, which are struggling to pay the 13th month benefits of their

workers. Each applicant could borrow between P12,000 to over P50,000 payable in 12 months. Francia said SB Corp. extended the deadline for loan applications for seven days from December 7 to December 14, 2021. The deadline is meant to give enough time for SB Corp. to process the loans before December 24—the deadline for the payment of 13th month benefits. Francia said in a briefing last Monday “this is your [business’s] chance to avail of the interests-free loan.”

Regulator honors PDIC as Champion in promoting corporate governance

HE Philippine Deposit Insurance Corp. (PDIC) was among the 60 Securities and Exchange Commission (SEC) Champions from the government and private sectors recognized for its contribution in the promotion of good corporate governance in the financial system. The virtual SEC Awards was organized by the SEC as part of its 85th anniversary celebration last November 12, a statement from the PDIC said. The awardees were cited as SEC champions in different categories such as good corporate governance, campaign network partners, capital market, enforcement and investor protection, ease of doing business and organizational development. “Corporate governance is crucial for any organization’s long-lasting success regardless of the industry. For PDIC, it is a non-nego-

tiable component in fulfilling our deposit insurance and closed bank liquidation mandates. We always strive to become efficient and responsive in providing services to our stakeholders, even with the challenges of the prevailing health crisis,” PDIC President and CEO Roberto B. Tan was quoted in the statement as saying. “The award from SEC mirrors our dedication and commitment to stay strong and focused in achieving our vision of ‘ being a leading institution in governance, recognized for operational excellence in depositor protection and responsiveness to changing times.’” The PDIC said it and the SEC continue to collaborate in advancing good governance and market customer-centricity. They have worked together in the adoption of effective accounting and auditing stan-

dards to help strengthen the corporate governance practices of business organizations in the country. Both have also partnered with member-agencies of the Financial Sector Forum (FSF) to coordinate and harmonize supervision and regulation of institutions in the financial system, the PDIC said. The PDIC was established on June 22, 1963, by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

Tuesday, December 7, 2021 • Editor: Gerard S. Ramos

Art

BusinessMirror

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Today’s Horoscope

❶ A WOMAN

walks past the artwork 1995.2 created by Chinese artist Fang Lijun during a media preview in November in the West Kowloon Cultural District of Hong Kong.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Emily Browning, 33; C. Thomas Howell, 55; Tom Waits, 72; Ellen Burstyn, 89. HAPPY BIRTHDAY: Put in the effort and you will reap the rewards. A fast pace, quick mind and creative imagination will take you where you want to go. It’s up to you to take advantage of the opportunities that come your way and to enjoy the life adjustments you make. Share your enthusiasm with others, and take a leadership position. Your numbers are 2, 12, 20, 29, 34, 37, 48.

PHOTOS: AP

❷ A VISITOR

looks at the artwork Crucified TVs—Not a Prayer in Heaven created by South Korea artist Chang Young-hae, inside the “M+” visual culture museum.

ARIES (March 21-April 19): Lean on someone who is always there for you. The added reinforcement will give you an edge. Be smart about the way you handle your peers, and you will gain respect and support that will tip the scale in your favor. HHHH

❶

❷

Hong Kong’s M+ museum opens amid censorship controversy

ONG KONG—Hong Kong’s swanky new M+ museum—Asia’s largest gallery with a billion-dollar collection—opened in November amid controversy over politics and censorship. M+ boasts 183,000 square feet (17,000 square meters) of exhibition space, 33 galleries and over 6,400 works in its collection that range from modern and contemporary art to architecture and moving images. Designed by Swiss architects Herzog & de Meuron, M+ aims to put Asia on the global map for art and was built to rival London’s Modern Tate and the Museum of Modern Art in New York. But the museum has come under fire for censorship, after it decided not to display a piece by Chinese artist and dissident Ai Weiwei after proBeijing politicians said that it was “spreading hatred against China” and could violate the city’s sweeping national security law. On its web site, M+ replaced the digital image of the work with its logo. The work by Ai, titled Study of Perspective: Tian’anmen (1997), depicts Ai raising a middle finger at Beijing’s Tiananmen Square, where a bloody crackdown by the People’s Liberation Army on pro-democracy protesters on June 4, 1989, killed hundreds, if not thousands. Some of his works will be on display, but not the other images from Ai’s Study of Perspective series featuring middle fingers aimed at the White House, the Swiss parliament and the Mona Lisa, though they’re still on the museum’s web site.

Beijing imposed the national security law after massive anti-government protests shook Hong Kong in 2019, challenging China’s rule over the semiautonomous city that was promised Western-style freedoms after its handover from Britain in 1997. The law outlaws secession, subversion, terrorism and foreign collusion, and has been used to arrest over 120 people and silence opposition voices in the city. Among them, the annual vigil commemorating the Tiananmen massacre as well as the June 4 museum. Ai has criticized M+ over its decision to censor his work. “Under the current National Security Law, I think Hong Kong is facing a very dramatic political change,” Ai said in an interview with The Associated Press from Cambridge, England. “So the freedom of speech [can] no longer be performed in a normal way, but rather under severe censorship. “So I don’t think the museum...with this kind of condition can still have this ambition to become one of the world’s most advanced cultural facilities.” M+ has insisted that it is only acting in accordance with the law. “This is the first contemporary museum in Hong Kong, so therefore I want to ensure that the message is clear so that people don’t think that we are above the law,” Henry Tang, chairman of West Kowloon Cultural District Authority Board, said at the museum’s opening ceremony, ahead of the public viewing. “This is the first principle that I always emphasize, particularly in the past, [as] there were some

controversies regarding whether some exhibits might be in violation of law.” Some, however, believe that the artwork’s removal may be justified. “It is self-censorship, but maybe it is survival, too, for M+. They need to balance what is important and what they can get away with,” said John Batten, president of the International Art Critics Hong Kong. “And because this particular photograph has been such a lightning rod of criticism...maybe we should just put it aside for a while.” Batten said that the opening of M+ would be beneficial to the arts scene in Hong Kong. “M+ is the start of possibly a 50, a 100-year-old institution, so it should be forward looking,” he said, adding that the excitement visitors will feel walking into M+ could be similar to that of the Metropolitan Museum or the Museum of Modern Art in New York. The collection of works in M+ also includes those from local artists, like South Ho. Ho’s photos Not Every Daily VI and Not Every Daily V captured the city’s Occupy Central protests in 2014, and are part of the museum’s collection. “As a contemporary artist, I think it’s a good that the museum provides a new channel for us to get to know the arts in Hong Kong, and from Asia and other parts of the world,” said Ho. “This is a form of investment in culture which allows people to know that apart from Hong Kong’s economic achievement...it’s a good idea that we also have some cultural developments as well,” he said. AP

Gina Osterloh’s ‘her demilitarized zone’ THE latest solo exhibition of Gina Osterloh, her demilitarized zone reflects on the current human condition and contemplates an alternate way of being where words and images are de-weaponized; implements of brutality, violence, and exclusion metamorphose into a poetry of pleasure and possibility. The slow and labor-intensive processes of creating each image and object in this exhibit embody the difficult and committed work necessary to see the other without preconceived notions and ideology. Ruminations on the etymology of photography— writing with light—led to experiments using a welder’s torch to inscribe words on steel. Words that initially seem like scribblings of black paint are burned onto steel bars,

artist encountered in reading philosophy and art theory texts describing the act of camouflage as a momentary loss of one’s individuality, a psychic drop in ego. In resonance with the idea of de-weaponization, camouflage is conceived of “not as a tactic of war, but instead a strategy to inhabit other points of view.” Silencing oneself demands time and work, it requires shedding the artificial, ultimately ineffective protections we layer on ourselves, layers that like the tape in the portraits adhere to skin becoming one with the body, leaving their marks when ultimately removed. Gina Osterloh’s solo exhibition on view until December 22 at Silverlens Galleries, 2263 Don Chino Roces Avenue Extension, Makati City.

the intensity requiring the artist to stop after each gesture is rendered. The steel of industry, modernization, and militarization—steel bars that wall off the other—are slowly transformed. Intractable steel is blistered and scarred with phrases suggesting release, a letting down defenses. Unlike earlier works on steel plates, these are not left to rust but are subjected to a series of processes akin to darkroom photographic chemical baths that infuse them with the black color and coatings that fix the surface, rendering them forever irreversibly altered. Visualized through room sets that Osterloh uses to invite viewers to inhabit the photographic space, Psychic Drop-Pink and Psychic Drop-Grey refer to a concept the

TAURUS (April 20-May 20): Keep an open mind, but don’t take unnecessary risks that put you in a compromising position. A minimalist approach will save you time and money and help you avoid an argument with someone who can influence your status or reputation. HH

GEMINI (May 21-June 20): Assess a situation, make your move and finish what you start. Living up to your word will help ward off criticism and interference. A steady pace and articulate plan will lead to victory. Refuse to let emotional manipulation slow you down. HHHHH

CANCER (June 21-July 22): Map out what you can do before committing to something that may not be feasible. An act of kindness shouldn’t put you in a vulnerable position. Get your facts straight, and find a novel way to reach the specified requirements. HHH

LEO (July 23-Aug. 22): Don’t tempt fate. Stick to a schedule, and take care of your responsibilities. Don’t get involved in gossip or show gullibility when dealing with peers. A resourceful approach will help you avoid wasting valuable time and letting someone make you look bad. HHH

VIRGO (Aug. 23-Sept. 22): Mull things over. Be smart by easing into any change that comes your way; things will turn out better than anticipated. A networking event will pay off. Selfimprovement will give you the boost you need to excel. HHH

LIBRA (Sept. 23-Oct. 22): Consider what’s essential, and concentrate on keeping the peace and being honest about how you feel and what you plan to do next. Don’t let emotions stand in the way when it comes to your happiness, health and financial well-being. HH

SCORPIO (Oct. 23-Nov. 21): Do your part and make a difference. Look for solutions instead of complaining about what’s wrong. Change begins with you, and documenting everything will help you keep a tab on who does what and what helps the most. Romance is encouraged. HHHH

SAGITTARIUS (Nov. 22-Dec. 21): Dive in, take charge and get things done. Take the initiative, and you will turn an idea into something concrete. Refuse to let someone’s negativity or misleading rhetoric come between you and what you are trying to accomplish. Finish what you start. HHH

CAPRICORN (Dec. 22-Jan. 19): Concentrate on getting things done on time. Use your imagination, and you’ll find a way to outmaneuver anyone who tries to compete with you. Use your physical attributes to your advantage. Don’t exaggerate or make unrealistic promises. Truth matters. HHH

AQUARIUS (Jan. 20-Feb. 18): A last-minute change will limit what you can do, causing doubt and stress. Have a backup plan in place before you commit to someone or something that has the potential to run amok. Keep your goals as simple as possible. HHH

PISCES (Feb. 19-March 20): Don’t let anyone take advantage of your kindness and generosity. Offer only what you can afford and what will not compromise you mentally, emotionally or financially. A little romance will lighten the mood and enhance a meaningful relationship. HHH BIRTHDAY BABY: You are unique, resourceful and open-minded. You are passionate and impulsive.

‘choice words’ BY LEWIS ROTHLEIN The Universal Crossword/Edited by David Steinberg

ACROSS 1 With 24-Across, newspapers and such 5 Be sick 8 Has faith in 14 Deal prerequisite, in poker 15 It’s hidden in “tooth and nail” 16 Majestic bird’s baby 17 Choice of hair terms? 19 Comfortable (with) 20 Brick in some Santa Fe houses 21 Other than that 23 Typist’s stat 24 See 1-Across 25 High-pitched woodwind 26 Navy noncom 27 Choice of produce section terms? 31 Acronym on a poolside bottle 34 Total up 35 Chocolate tree 36 Old-timey messengers 39 Becomes an expert in 41 State Farm ___ (Atlanta Hawks’ venue) 42 Slump

43 44 49 50 51 55 56 57

Turn blond, say Choice of sailing terms? Acer Aspire 5 and others He was jealous of Abel Sit tight for “That feels nice!” Crooked African capital dubbed the “Hollywood of the Middle East” 58 Body of water parted in the Bible 60 Choice of pro wrestling terms? 63 Gotten outof bed 64 Dublin’s republic: Abbr. 65 Dole (out) 66 Urban diversion? 67 Four-legged friend’s foot 68 Pomegranate morsel DOWN 1 Title whose “d” can also be an apostrophe 2 A current flows through it 3 Got to one’s feet 4 Novak Djokovic’s homeland 5 Tumult 6 Business magazine

7 8 9 10 11 12 13 18 22 25 26 28 29 30 31 32 33 37 38 39 40 42 45

Erie’s bottom, e.g. Magazine cover, essentially Give a 10/10, say Cry of disgust Leisurely Opposite of “permanent” It may bear fruit “Quantum” change Flat can? Alero automaker, briefly Conversation in a dating app Enhance, as a resume Some duplicate letters, in two ways Aspirin amount Suffragist Anna Howard ___ Outer edge Beef sandwich served au jus Common connecting words ___ Palmas, Spain See 52-Down Before the present It may include gondola rides They produce much of Earth’s oxygen 46 Was published

47 48 52 53 54 55 56 59 61 62

Soft or crunchy Mexican food Groups in hives With 39-Down, “Save Me” singer Like The Hulk Carried around ___ League (Qatar’s group) Individuals in hives 9-digit ID source Presidential period, perhaps Not a lot

Solution to today’s puzzle:

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Editor: Gerard S. Ramos

• Tuesday, December 7, 2021

CNN fires Chris Cuomo for helping brother deal with scandal By David Bauder & Michelle L. Price The Associated Press

EW YORK—CNN fired anchor Chris Cuomo on Saturday less than a week after new information emerged about how he assisted his brother, former New York Gov. Andrew Cuomo, as the politician faced sexual harassment allegations earlier this year. The network had suspended its prime-time host on Tuesday to investigate his conduct, after New York’s attorney general released details showing he was more involved than previously known in helping to strategize and reach out to other journalists as his brother fought to keep his job. CNN hired a law firm for that review, which it would not identify. The lawyers recommended Chris Cuomo’s termination and CNN chief Jeff Zucker informed the anchor of the decision on Saturday. “It goes without saying that these decisions are not easy, and there are a lot of complex factors involved,” Zucker said in an e-mail to CNN staff on Saturday. The network said that “while in the process of that review, additional information has come to light.” CNN would not discuss that information, or characterize whether it had anything to do with his brother. Cuomo issued a statement on Twitter calling the decision disappointing. “This is not how I want my time at CNN to end but I have already told you why and how I helped my brother. So let me now say as disappointing as this is, I could not be more proud of the team at Cuomo Prime Time and the work we did,” he said. Even with the firing, CNN said it will continue to investigate Cuomo’s conduct “as appropriate.” A year ago the two sons of the late New York Gov. Mario Cuomo were flying high: Andrew as a threeterm governor praised initially in many circles for his handling of the pandemic, Chris as the top-rated personality on CNN. Now they’re both out of work. As women came forward accusing former Gov. Andrew Cuomo of sexual harassment, his brother, despite being a CNN anchor, pressed sources for information on the accusers and reported back to the governor’s staff on what he was learning. He was active in helping craft their response to the charges, according to e-mails and a transcript of his testimony to investigators working for state Attorney General Letitia James. Her office found Andrew Cuomo sexually harassed at least 11 women; the former governor resigned in August to avoid a likely impeachment trial. Chris Cuomo and CNN have been under fire for months about their anchor’s conduct. When it first came to light in May that the anchor had been talking to his brother’s advisers, the network acknowledged that he had broken its rules but, as CNN said in a statement upon his suspension earlier this week, “we also appreciated the unique position he was in and understood his need to put family first and job second.” The transcripts released by James this week revealed considerably more detail about Cuomo’s involvement—conduct CNN executives admitted was a surprise even to them. While Cuomo has said he never tried to influence CNN’s own coverage of his brother, he told investigators for James about his calls to other journalists to find out what information they had

BEA ALONZO is among the featured stars in GMA Pinoy TV’s new station ID.

GMA PINOY TV UNVEILS 2021 STATION ID

about some of his accusers. That seemed to conflict with an on-air statement Cuomo gave on CNN following his brother’s resignation in August. Cuomo had said that “I never made calls to the press about my brother’s situation.” Cuomo also said that he never “attacked, nor encouraged anyone to attack any woman who came forward” with accusations against his brother. According to e-mail transcripts released this week, Cuomo wrote to aides that “I have a lead” on one of the accusers, although it was not clear what he meant. Things moved quickly this week following the release of the transcripts. CNN took him off the air on Tuesday and suspended him indefinitely before the firing on Saturday. It was clearly a painful decision for Zucker, who installed Cuomo as a morning show host shortly after taking over at CNN in 2013, then later moved him to prime time. Until this week, he had backed Cuomo despite criticism. Cuomo Prime Time had been the network’s highest-rated show this year, airing at the 9 pm Eastern hour between shows by Anderson Cooper and

Don Lemon. The firing leaves a significant hole in the network’s schedule. One former rival is becoming a free agent soon: Brian Williams recently announced he was leaving MSNBC, where he had anchored a nightly news hour, when his contract ends with the end of the year. There was always a potential of conflict with one Cuomo brother as governor and another as a journalist. But since Chris Cuomo joined CNN, it was always made clear that he would not cover anything that involved his brother. That changed with the Covid-19 pandemic, when the governor appeared on his brother’s show several times, trading familial banter that entertained viewers but raised ethical red flags. They were then halted. A veteran TV executive, Shelley Ross, wrote a column for The New York Times in September saying Chris Cuomo had groped her at a party 16 years ago, when they both worked for ABC News. Cuomo told the newspaper that “I apologized to her then, and I meant it.” AP

GMA’s flagship international channel, GMA Pinoy TV has unveiled its grandest offering for Filipinos abroad this year via the 2021 station ID, dubbed “Stronger Together.” Masterfully performed by top singer-actress Julie Anne San Jose and all-female vocal group XOXO, the upbeat GMA Pinoy TV station ID encourages everyone to get back on their feet and move past the dark moments as they face a brand new day together. The “Stronger Together” station ID was officially launched on November 28 on All-Out Sundays. “Stronger Together” is GMA Pinoy TV’s umbrella campaign for the year-round celebration of its 16th anniversary. The campaign includes the successfullylaunched “Stronger Together: The GMA Pinoy TV Podcast,” which showcases conversations with the network’s top personalities, global celebrities, and Filipinos around the world who remain strong and resilient amid life’s challenges; “Pockets of Hope,” interstitials that inspire everyone to share the things that helped them weather these trying times; “Frontliners Stronger Together,” another interstitial that features Filipino frontliners who share inspiring and unforgettable stories on how they were able to surpass the challenges during this pandemic; “Stronger Together” Viber stickers, which make chatting with friends and loved ones even more colorful; and “Pinoy Abroad Fun Connect,” the virtual meet-and-greet event that enables Pinoys from across the world bond with their favorite GMA stars and personalities. “For us at GMA Pinoy TV, ‘Stronger Together’ has deeper layers of meaning that transcends borders and social issues which concern Filipinos all over the world. Aside from the pandemic, our campaign was released at an opportune time during the heat of #StopAsianHate, women empowerment, the call for inclusiveness in mainstream pop culture, and more awareness for mental health and resilience. Amid these challenges, what proves to be true is that we get our strength from each other and that when joined together, we can be stronger than any of the adversities that come our way,” says GMA International first vice president and head Joseph T. Francia. “We offer the new GMA Pinoy TV station ID as a battle cry and as a reminder for all our beloved Kapuso abroad that we are here for them no matter the circumstance and no matter the distance,” he assures. “The new ‘Stronger Together’ station ID spotlights migrant Pinoys’ resilience during the global pandemic and hopes to encourage them to continue with the fight,” adds GMA International senior assistant vice president and head of programming Cheri C. Domingo. Subscribers in the US, Canada, Singapore, and Hong Kong can now watch GMA shows while on the go via the mobile app of one’s pay-TV provider and enjoy TV everywhere. Those who missed an episode of their favorite GMA program can catch it on demand on selected carriers globally.

Is Diego Loyzaga the brightest star of the season?

THE suave, sleek and sanguine son of actors Teresa Loyzaga and Cesar Montano is definitely on a roll. He jumps from one movie set to another and even his romantic liaisons have become extra-sensational these days. Loyzaga is currently in the thick of promotions for his movie Dulo, which starts streaming on Vivamax this weekend. He is doubly excited because he is paired with his real-life girlfriend Barbie Imperial in this project directed by former actor Fifth Solomon. “On the set, B [his term of endearment for his girlfriend] and I had to forget about us being lovers, because we had to both get into our respective roles and give life to them as naturally as we could for the

characters to become believable. I guess that is the challenge of being actors in general, that we have to leave who we are to portray who we have to in the most convincing manner possible,” he explained. The month of December is special for Loyzaga because it was on December 11 a year ago when he and Imperial became sweethearts. “Whew, and just like that, it’s been a year, and our relationship remains as solid, happy and colorful as ever.” Colorful might be an understatement to describe the relationship of these young lovers. Just very recently, rumors had it that Loyzaga had a tryst with siren newcomer AJ Raval, who is also a second generation actor like him. Raval is the daughter of action star Jeric Raval who decided to take the sexy route to jumpstart her acting career. The two were paired in a movie, titled Death of a Girlfriend, not long ago. The gentleman that he is, Loyzaga has kept mum even as the issue continues to be a hot topic in the local showbiz circuit. And like a twist in his recent movies, it was his girlfriend who came to his rescue, giving interviews to clear her boyfriend’s name and even challenging Raval to come out to end all speculations about the alleged indiscretion.

But Loyzaga gets excited when the topic shifts to his girlfriend. “She is a very organized person, both in work and in the home front. I like that and I appreciate that in her very much. In a way, B is very much like my mom—she is very caring, maalaga, and she can be very quietly selfless. She is very accepting, and she embraced me, my strengths, my flaws and my controversial past, my entire package.” This “past” that Loyzaga is talking about, he considers it the turning point of his young life. “The experience was life-changing. I even had to recharge and re-evaluate my life overseas to be able to pick up the pieces and start anew. But looking back, that part of my distant past made me the person I am today, and although I still continue to learn about living and loving, it has helped lay down the foundation I needed in order for me to bounce back,” he said. This year has been quite challenging for most of us but Loyzaga remains thankful that he is very much in-demand as an actor, even being touted as the brightest star of this season. “I don’t know about that, but it will surely be a happy Christmas for me and those I hold dear. Hope and gratitude must always be in our hearts, not only during this joyous season but throughout the year.”

B6 Tuesday, December 7, 2021

CSMC’s award-winning webicon highlighted at PHA Convention

ARDINAL Santos Medical Center’s (CSMC) continued commitment to making quality healthcare accessible through their educational webicon (webinar + press conference) program was once again put into the spotlight at the Philippine Hospital Association’s (PHA) 72nd Virtual Annual National Convention and Exhibits, held on November 17-19, 2021. During the PHA Master Class session at the convention, CSMC Vice President and Head of Human Resources Maria Louzel Diaz-Tiozon shared the motivations and story behind the creation of one of the hospital’s most successful programs to date, as well as the webicons’ impact on both their audience and their institution. Joining Diaz-Tiozon in the session were other notable speakers from hospitals with award-winning practices. According to Diaz-Tiozon, the first building block that inspired the birth of the webicons was the desire to ensure the welfare of their patients and the viability of the institution amidst a crisis, as well as an advocacy to empower people with

the right information to help them make good decisions for their health and wellbeing. This led to the development of a health and literacy campaign that also harnessed the power of technology, social media, and the Internet. “As healthcare workers, we recognize the importance of doing our share in restoring the trust and confidence of people that our clinics and our hospitals are safe spaces for healing,” said Diaz-Tiozon. The webicons were conceptualized by the human resources team of CSMC, with the aim of engaging their community and the general public through advocacy and health education. The hospital’s medical and marketing teams, alongside CSMC’s public relations partner Grupo Agatep Inc., executed the webicons and promoted them through various media partners via online and offline platforms. Diaz-Tiozon also shared that the webicons may have fostered a newfound trust of first-time patients in CSMC’s services. “We have gone far since we first broached the idea of the webicon,”

Diaz-Tiozon said. “After producing 6 [webicons], our hospital saw a rise in new patient turnout, recording 64,293 new patients or 36% of CSMC’s total unique individual cases for the period January to September of this year.” Due to the initiative’s positive impact, CSMC was awarded the Gold Award for Branding and Marketing Campaign at the annual Asian Hospital Management Awards (AHMA), an achievement that led to the participation as an honored speaker at the PHA convention. Diaz-Tiozon ended her speech by reiterating the three valuable lessons learned from the WebiCon: 1) The best ideas come from unexpected places; 2) Pilot. Iterate. Repeat; and 3) Use storytelling to inspire and motivate others. “(The impact of our webicons) underscores the importance of being aware of your measures for success,” Diaz-Tiozon said in closing. “(By) aligning and driving everyone toward a common goal, (you are) doing excellent work that truly makes a difference.”

Breville’s Bambino Plus gives deeper meaning to the Filipinos’ never-ending love affair with coffee

VERYONE can now master third wave specialty coffee with Breville’s Bambino Plus. Coffee was never just a regular drink for Filipinos. Regardless of which coffee wave we are talking about, our culture has always provided more meaning to it like it was a significant part of our lifestyle. It’s what can differentiate a good morning from a bad one, and it can also be reminiscent of the perfect breakfast or a nightcap with loved ones. Filipinos have always known how to show their appreciation to their cup of joe, and that is even more evident now during the third wave movement. Third wave coffee, simply put, is a concept that focuses on delivering high-quality coffee. It is a subculture that considers the drink as artisanal, but unlike the second wave that gives more premium to experience, it also gives importance to a deeper understanding of coffee and its origins—how it is grown, where it is sourced, how it is prepared. This approach adds more romance to the act of preparing the drink as well as enjoying it. It is this kind of perspective that Breville Philippines, a lifestyle home brand offering premium kitchen partners, has always

nurtured in its years of operation in the country. A household name when it comes to coffee machines, Breville is known for its high-quality espresso models like the Breville Barista Express and the Breville Dual Broiler, the latter being a particular favorite even among entrepreneurs. Recently, however, the brand decided that there is a niche they are yet to fill and a need to address, and that is to provide the market with a friendlier kitchen partner that can help them master the art of making third wave coffee right in their homes.

The new Bambino Plus

“THERE are different kinds of coffee enthusiasts,” says Elijah Marie Cortez-Flores, F&B Unit Manger of Breville Philippines. “There are those who are really serious about it and are very detailed and mechanical when making their drink. That’s what we address with our Barista Express and the Dual Broiler, but then we thought, what about those who have the same level of love for coffee but wanted a simpler way to approach it? That’s what the Bambino Plus is for.” That’s not saying that Breville’s newest

addition to their roster of high-quality espresso machines is not as precise as the other models. True to the brand’s promise of always providing kitchen partners that can deliver artisanal drinks, the Bambino Plus uses what Breville calls the 4 Keys formula to provide the best balance, consistency, flavor, and texture in every cup of joe. The combination of ideal dose, proper temperature, optimal pressure, and sufficient steam promises a serving that can challenge brews from coffee shops. The model also uses an innovative ThermoJet heating system, Adjustable Milk Temperature Setting, and a Hands-free Automatic Steam Wand that makes it easy for anyone to recreate their favorite third wave drink without leaving their home. “For some, there’s always the connotation that ‘third wave coffee is such an exclusive thing—almost elitist in some sense. The truth is that anyone can appreciate it if they’re interested in what the movement stands for, which is understanding coffee more. When you have that mindset, you can definitely enjoy your coffee better because you know more of its story, its processes, the whole package. You build your knowledge from the ground up so you can enhance your experience,” explains Flores. “We want to elevate the whole coffee experience by educating everyone that there is a story behind every bean and every roast. It’s like adding more dimension to what we already love by getting to know it on a deeper level. More than just that though, we also want everyone to know that everyone can make their favorite drink at home without being too specific or technical about it,” Flores closes. Visit www.breville.com.ph.

MR D.I.Y. is best brand regional awardee at the World Branding Awards 2021-2022

R D.I.Y. announced that it had been accorded the Brand of the Year Regional Award at the World Branding Awards 2021-2022 last 25 November. The Awards saw some of the world’s best brands recognized for their work and achievements, based on brand valuation, as well as through consumer market research and public online voting. For the past three years, MR D.I.Y. has received the National Award, which is presented to the leading brands in each participating country. These are brands that are household names in their home country that have been judged to be truly exceptional. This year, for the very first time, MR D.I.Y. has moved up to the Regional Award, which is presented to brands which are top in several countries in a particular geographic region. Dedicating the award to the Group’s employees across its 6 regional markets Malaysia, Thailand, Indonesia, Philippines, Singapore, and Brunei - MR D.I.Y. Group Vice President of Marketing, Mr. Andy Chin said, “This award is in recognition of the work that our MR D.I.Y employees do every day. It is a testament to their commitment; they persevered despite the challenges of the COVID-19 pandemic. Moving up to become a regionally-recognised brand also demonstrates that we are well on the way to becoming the leading value retailer across ASEAN.” Chin said that the award was also a reflection of the loyalty of MR D.I.Y.’s customers, who have supported the brand since its first store opened in Kuala Lumpur in 2005. “This award underlines how much our customers value our commitment to deliver on our promise of convenience, value, and "Always Low Prices”,” he said. “Our aim going forward is to stay the course - to keep delivering on our promise in new, innovative ways. Exploring new store formats that will allow us to take MR D.I.Y. to new communities in different types of markets will be a key priority,” added Chin.

MR D.I.Y. accorded Brand of The Year Regional Award at The World Branding Awards 2021-2022 He added that the Group was increasing its focus on Environmental, Social, and Corporate Government (ESG), through a breadth of initiatives that protect people and the planet. Since 2020, he said, the Group had activated more than 50 programmes across the region to support the communities affected by the pandemic, including sourcing personal protective equipment (PPEs) and necessities directly from manufacturers, to giving out care packs, and providing hospitals with muchneeded medical/non-medical equipment. The World Branding Awards is an annual award ceremony organized by the World Branding Forum, a global nonprofit organisation dedicated to advancing branding principles for the benefit of customers and the branding community. Now in its 13th edition, the 2021-2022 award programme saw 150 brands from 41 countries named “Brand of the Year”. This year’s ceremony was held virtually at Kensington Palace, United Kingdom. For more information, visit www. mrdiy.com.

GBP recognized by HR Asia for outstanding people management practices and workplace excellence

LOBAL Business Power Corporation (GBP) was named among the Best Companies to Work for in Asia in the recent awards organized by HR Asia, the region’s most authoritative publication for HR Professionals. It is the third consecutive year that the company has been included in the annual list. HR Asia’s Best Companies to Work for in Asia Awards recognizes companies that have shown world-class employee engagement and workplace excellence, while displaying demonstrable empathy and care for their employees. “We would like to thank HR Asia for recognizing GBP for three years in a row as one of the Best Companies to Work in Asia since 2019,” said GBP President Jaime T. Azurin. “We dedicate this prestigious commendation to the hardworking and passionate men and women of GBP across all our sites. It is through their collective efforts that we have reached this status and have been deemed worthy of this recognition for three consecutive years.” GBP also won the WeCare Certification,

which is given out along with the HR Asia Best Companies to Work for in Asia 2021. The WeCare Certification recognizes companies that have demonstrated empathy and care as part of their DNA. It is the second year that GBP has received the esteemed citation. “We at GBP are truly honored to receive these distinguished awards as we give the utmost importance to our employees, whom we value as our company’s greatest asset,” highlighted Azurin. “As we aim to provide our customers with sustainable energy solutions, we prioritize the well-being of our people, who build the foundation of our organization.” GBP is committed to continue making its policies, processes and practices flexible and responsive to the needs of its employees in order to secure their health and safety as the Company navigates the ‘new normal’. As a member of the ONE MERALCO Group, GBP is committed to Powering the Good Life through investment in its people, among many others.

GBP President Jaime T. Azurin accepted the latest people-centered recognitions for GBP.

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

TheWorld

3 dead as Myanmar army truck rams into protesters

ANGKOK—An army vehicle plowed into a peaceful march by anti-government protesters in military-ruled Myanmar’s biggest city, reportedly killing at least three people, witnesses and a protest organizer said. Sunday’s march was one of at least three held in Yangon, and similar rallies were reported in other parts of the country a day ahead of an expected verdict in the first of about a dozen criminal cases against former leader Aung San Suu Kyi, who was toppled in a military takeover on February 1. A video posted on social media showed a speeding army truck barreling into the marchers from behind. Voices can be heard saying: “The car is coming...Please help! It hit the children...Oh!...Dead!... Run,...run!” The video shows about a dozen people running away. A witness told The Associated Press that the protesters had been on the street for just two minutes before the military truck hit them, leaving three people lying motionless on the road. “About five armed soldiers got out of the vehicle and chased after the protesters,” said the witness, who insisted on anonymity for fear of arrest. “They opened fire and also arrested young people who had been hit by the car. At least 10 people were arrested.” A worker for a local emergency rescue team, who also insisted on anonymity, said it brought two men and a woman, all in their early 20s and seriously injured, to a military hospital for treatment. State television reported that 11 protesters had been arrested, including three injured people. A local news service, Myanmar Pressphoto Agency, announced on Facebook that two of its reporters covering the march had been arrested. It said it appeared that photojournalist Kaung Sett Lin had been injured before being detained and that it had lost contact with TV reporter Hmu Yadanar Khet Moh Moh Tun. Security forces have previously used cars to attack protesters since the army took power. They have also freely used live ammunition, killing about 1,300 civilians, according to a detailed list compiled by the Assistance Association for Political Prisoners. Severa l foreig n emba ssies posted comments on social media expressing concern over the incident and reiterating calls for a return to a democratic government in Myanmar and the release of political prisoners. “The military’s widespread use of brutal violence underscores the urgency of restoring Burma’s path to inclusive democracy,” read a statement from the US Embassy, using the country’s previous name. The French Embassy said the deliberate act by the security forces “cannot remain unpunished.” The use of lethal force by the army and police has led to fewer

large-scale street protests, which have been replaced by small, quickly organized marches that usually break up at the first sight of the authorities. Sunday’s reported deaths in Yangon’s Kyeemyindaing neighborhood could not be immediately confirmed. A nother w itness said that when several people came to gather their items, three more militar y vehicles arrived and arrested several of them. “At least four people, including two young girls who were crying near the shoes, were arrested,” he said. “The soldiers told us to go inside or they would shoot us.” A statement issued by the National Unity Government, an underground opposition group that has set itself up as the country’s parallel administration, decried the incident, in which it said five people were killed and more seriously injured. “The randomized nature of the attacks—killing and maiming indiscriminately, is no accident. The intention of the junta is clear: create as much fear and panic as possible. Inflict as much pain, trauma, and suffering as they can, without a care as to who their victims are. Reinforce the message that anyone at any time can be killed, arrested, beaten, or wounded, simply for being in the wrong place,” said the statement, signed by the group’s spokesman and minister of international cooperation, Dr. Sasa. The statement reiterated the group’s call for international action to help oust the military government. About 30 people took part in the march, according to a member of Yangon People’s Strike, a local resistance group that organized it. Media posted online showed the protesters carrying placards with Suu Kyi’s image, and calling for the immediate release of the country’s detained leaders. The organizer, who spoke on condition of anonymity because of the threat of arrest, said the group held such protests to keep residents involved in the struggle against the militar y-installed government. Militant urban guerrilla groups have also attacked officials and planted bombs, while open armed conflict has engulfed rural areas, leading to a warning the country may slide into civil war. Since she was detained by the military, Suu Kyi has faced charges ranging from breaching coronavirus regulations to corruption. They’re widely seen as contrived to discredit her and justify the military takeover. The army claims it acted because of widespread fraud in an election in November last year. Independent observers of the polls, won overwhelmingly by Suu Kyi’s National League for Democracy party, say they saw no evidence justifying the army’s claim. AP

US Embassy warns that Japan is racially profiling foreigners

he US Embassy in Tokyo issued a warning Monday about foreig ners being stopped and searched by Japanese police in what it said were suspected to be “racial profiling incidents.” The unusual move by the embassy of Tokyo’s only formal ally came after Japan closed its borders to new entries by foreigners amid concern over the Omicron variant, just weeks after beginning a cautious re-opening. The closure was backed by almost 90 percent of respondents to a media

poll over the weekend. The alert posted on the Twitter account of the American Citizen Services section of the embassy warned that US citizens should carry proof of their immigration status and notify their consulate if detained. The alert added that several foreigners “were detained, questioned, and searched.” Chief Cabinet Secretar y Hirokazu Matsuno dismissed the concer ns and said at a news briefing that police questioning in the countr y is not based on nationality or race. Bloomberg News

BusinessMirror

Tuesday, December 7, 2021

Myanmar special court sentences ousted leader Suu Kyi to 4 years

ANGKOK—A special court in Myanmar’s capital sentenced the country’s ousted leader, Aung San Suu Kyi, to four years in prison on Monday after finding her guilty of incitement and violating coronavirus restrictions, a legal official said.

The sentencing was the first in a series of cases in which the 76-year-old Nobel laureate is being prosecuted since the army seized power on February 1, preventing her National League for Democracy party from starting a second five-year term in office. The verdict in another case against her is expected next week. If found guilty in all the cases she faces, she could be sentenced to more than 100 years in prison. The court on Monday did not make clear whether Suu Kyi would be sent to prison for the two convictions or placed under house arrest, the legal official said. In her long struggle for democracy, she has served 15 years of house arrest starting in 1989. The incitement case involved statements posted on her party’s Facebook page after she and other party leaders had already been detained by the militar y, while the coronavirus charge involved a campaign appearance ahead of elections in November last year which her party overwhelmingly won. The army, whose allied party lost many seats in the election, claimed massive voting fraud, but independent election observers did not detect any major irregularities. The ruling by the court in Naypyitaw was conveyed by a legal official that insisted on anonymity for fear of being punished by the authorities. Suu Kyi’s trials are closed to the media and spectators, and her lawyers, who had been the sole source of information on the proceedings, were served with gag orders in October forbidding them from releasing information. Government officials could not immediately be reached for more

details about the ruling. Special courts are a legacy of British colonial rule, appointed to hear specific cases. They are most often used for political cases. Defense lawyers are expected to file appeals in the coming days for Suu Kyi and two colleagues who were also convicted Monday, the legal official said. The cases against Suu Kyi are widely seen as contrived to discredit her and keep her from running in the next election. The constitution bars anyone sent to prison after being convicted of a crime from holding high office or becoming a lawmaker. Opposition to military rule remains strong 10 months after the army’s takeover, and the verdict may inflame tensions even further. There were protest marches on Sunday against the military government and calling for the release of Suu Kyi and other detained members of her government. An army truck deliberately sped into a march by about 30 young people in Yangon, the country’s biggest city, and at least three of the protesters may have been killed, according to unconfirmed reports. The verdicts in Suu Kyi’s first two cases, on incitement—for allegedly spreading false or inflammatory information that could disturb public order—and violating the Natural Disaster Management Law for allegedly breaching coronavirus restrictions, were supposed to be delivered last Tuesday. However, the court postponed its ruling with no explanation. At the same time, it agreed to allow testimony this week on a separate coronavirus charge from an additional defense witness who had previously been unable to attend court because of ill health.

India hosts Putin as it balances relations with Russia and US

EW DELHI—Indian Prime Minister Narendra Modi meets with Russian President Vladimir Putin on Monday to discuss defense and trade relations as India attempts to balance its ties with the United States. The agenda for the annual summit includes political and defense issues, Indian External Affairs Ministry spokesman Arindam Bagchi said. The two countries are expected to sign several agreements, particularly in trade and defense. India and Russia have a long history of close ties. But recently, India has drawn closer to the United States, which it considers critical to countering China. India and China have had a months-long military standoff along their disputed border in eastern Ladakh, where deadly clashes erupted last year. Russia, meanwhile, has expressed reservations over the formation of the Quad, a grouping involving the US, India, Japan and Australia formed in response

to China’s growing assertiveness in the Indo-Pacific region. India is trying to navigate its defense relationship with Russia as it ramps up its military ties with the Unites States. India and Russia are discussing and likely to sign a 10-year military-technical agreement that could help in the transfer of new technologies to India. India, a major buyer of military equipment, depended largely on the former Soviet Union during the Cold War. But it has been diversifying its purchases by opting for US equipment as well. During the Donald Trump presidency, the US and India concluded defense deals worth over $3 billion. Bilateral defense trade increased from near zero in 2008 to $15 billion in 2019. India’s acquisition of Russian S-400 missile systems, which it considers to be critical in countering China, could prove to be an irritant in Indo-US ties. Wa sh i ng ton h a s a sked its partners to stay away from Russian military equipment to avoid possible sanctions. AP

Myanmar’s leader Aung San Suu Kyi waits to address judges of the International Court of Justice on the second day of three days of hearings in The Hague, Netherlands, on December 11, 2019. A Myanmar court on December 6, sentenced ousted leader Suu Kyi to 4 years for incitement, breaking virus restrictions. AP/Peter Dejong

Suu Kyi’s lawyers sought vigorously to have the incitement charge dismissed. The prosecution’s evidence consisted of statements posted on a Facebook page of Suu Kyi’s party. Defense lawyers argued that Suu Kyi and a co-defendant, former President Win Myint, could not be held responsible for the statements— which criticized the takeover and suggested in broad terms that it be resisted—because they were already in detention. The former mayor of Naypyitaw, Myo Aung, was another defendant on the incitement charge, which carries a maximum penalty of two years in prison and a fine. He was sentenced to two years, while Win Myint was sentenced to a total of four years, two for incitement and two for breaching coronavirus restrictions. February’s seizure of power was met by nationwide nonviolent demonstrations, which security forces quashed with deadly force. They have killed about 1,300 civilians, according to a detailed tally compiled by the Assistance Association for Political Prisoners. With severe restrictions on nonviolent protest, armed resistance has grown in the cities and countryside, to the point that UN experts have warned the country is sliding into civil war. The military took Suu Kyi into custody on the day of its takeover, and she has not been seen in public since then, though she has appeared in court in several

of her trials. Judgment on Suu Kyi’s second count of violating coronavirus restrictions is scheduled for December 14. The maximum penalty for each count is three years’ imprisonment and a fine. Other cases against Suu Kyi now being tried cover the alleged unregistered import and use of walkie-talkies by her security guards; violation of the Official Secrets Act, in which jailed Australian economist Sean Turnell is a co-defendant; and four separate corruption charges covering the alleged acceptance of a bribe and abuse of office to obtain favorable terms on property transactions. Each of the corruption charges has a maximum penalty of 15 years’ imprisonment and a fine. A trial on a fifth corruption charge has not yet started, and state media last week announced a sixth charge has also been filed against Suu Kyi. The latest charge accuses her and Win Myint of corruption in granting permits to rent and buy a helicopter. In mid-November, the militaryappointed election commission announced it intended to prosecute Suu Kyi and 15 other senior political figures for alleged fraud in the last election, which could result in her party being dissolved. The military has declared it seized power because of widespread election fraud, a claim that independent election observers say lacks evidence. AP

Unvaccinated Italians face new restrictions as holidays near

ILAN—Italy is making life more uncomfortable for unvaccinated people as the holidays draw near, excluding them from indoor restaurants, theaters and museums to reduce the spread of coronavirus and encourage vaccine skeptics to get their shots. Starting Monday through January 15, Italian police can check whether diners in restaurants or bars have a “super” green health pass certifying that they are either vaccinated or have recently recovered from the virus. Smart phone applications that check people’s health pass status will be updated and those who have merely tested negative in recent days for Covid-19 will no longer be allowed into concerts, movies or performances. The number of new Covid-19 infections in Italy has been on a gradual rise for the past six weeks, even before concerns arose about the new Omicron variant. That’s a worrying trend as Italians plan holiday parties and getaways to spend time with friends and family. Christmas travel and holiday gatherings were strictly limited last year due to a steeper rise in contagion. While both Germany and Austria are moving toward making vaccines obligatory, Italy is instead tightening restrictions on the unvaccinated at the most convivial time of the year—while allowing those who are vaccinated go about life more or less as usual. Italy’s vaccination rate is higher than many of its neighbors, at 85 percent of the eligible population aged 12 and older and 77 percent of the total population. But people in their 30s, 40s and 50s have proved the most reluctant to get vaccinated, with nearly 3.5 million still not having received their first doses. They are also the same age group that is now being hardest hit by the virus, according to Silvio Brusaferro, head of Italy’s National Health Institute. AP

Sports BusinessMirror

Ando leads weightlifters’ bid in worlds

EUMIR FELIX MARCIAL and his wife Princess strike a pose with Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino at their new home in Tagaytay City on Monday.

| Tuesday, December 7, 2021

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Sebastian, 15, unblemished in national juniors chessfest

HAGE GERRIAHLOU SEBASTIAN edged Jarel Renz Lacambra to show the way in the girls’ section of the Philippine National Juniors Chess Championships at the PACE Center along North Avenue in Quezon City over the weekend. Sebastian, 15, remained perfect with five points after he beat Precious Eve Ferrer, Ma. Elayza Villa, Divine Grace Luna and Lexie Grace Hernandez. The Far Eastern University standout will have her hands full though against closest pursuer Ruelle Canino, a 13-year-old phenom from Cagayan de Oro, when they face each other in the sixth round on Monday. The prodigious Canino smashed Grace Hernandez to improve to four points in the event supported by Philippine Sports Commission Chairman William Ramirez, National

Chess Federation of the Philippines (NCFP) president Prospero “Butch” Pichay, Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino and Chess Movement Inc. chairman Dr. Ariel Potot. Fide Master Alekhine Nouri and Adrian Othniel Yulo trounced Khent Darylle Delig and Christian Marcelo Olaybal, respectively, to lead the premier open division with four points each. Nouri, 15, however, owns the better tiebreak after he beat Yulo in the previous round. Ronald Canino drew with Jarvey Labanda to trail the leaders by half a point at 3.5 points. The winners in the tournament will be the country’s representatives to the Asian and World Championships, according to NCFP chief executive officer Grandmaster Jayson Gonzales.

TJ Titans 3x3 Leg 4 champions

HE Philippine Basketball Association 3x3 Lakas Ng Tatlo crowned a new leg champion in Purefoods as the TJ Titans thwarted the Meralco Bolts, 21-16, in Sunday’s finale at the Ynares Sports Arena in Pasig City. Pao Javelona took charge with a game-high 10 points for the Titans, who took the most opportunity in their breakthrough appearance in the championship round of the three-aside tournament. The 6-foot guard out of National University sparked a closing 6-1 run by Purefoods, including three in a row that allowed the team to break free from a tight contest and finally take control, 18-15. Big man Jun Bonsubre, a replacement for the injured Val Acuna, capped the run with a long two to clinch the Leg 4 title and the top purse of P100,000. “We badly wasnted this one,” quipped Javelona, a free agent picked by Phoenix in the 2016 draft. “We were focused—even during bad calls or turnovers.” Joseph Eriobu added five points, while Jed Mendoza and Bonsubre had three points each to round out the scoring for Purefoods, a team with a rich winning tradition in the PBA’s 5-on-5 games.

“I’m just happy for the boys. They were rewarded for their hard work,” said champion coach Tony Boy Espinosa, whose team’s highest finish in the tournament prior to winning the title was third place during the maiden leg won by TNT Tropang Giga. Meralco, winner of Leg 2, settled for P50,000 as the quartet of Tonino Gonzaga, Alfred Batino, Joseph Sedurifa and Dexter Maiquez and coached by Patrick Fran placed runner-up for the second time in the tournament. TNT outlasted top seed Platinum Karaoke in a thrilling finish, 21-20, to finish third and take home P30,000. Samboy De Leon sank the game winner for the Tropang Giga, who are composed of Almond Vosotros, Lervin Flores and Martin Gozum, who took over injured Jeremiah Gray. The Titans, who topped Pool C, disposed Pioneer Pro Tibay in the quarterfinals, 20-15, and came from behind to nip Limitless Appmasters, 15-11, in the semifinals to reach the finals for the very first time. The Bolts, on the other hand, eliminated Cavitex, 21-16, before booting out No. 1 seed Platinum Karaoke in the semifinals, 21-13, to set up the title showdown with the Titans. Leg 5 of the 3x3 season opener will be played on Saturday also at the Ynares Sports Arena.

MARCIAL FIGHTS AS PRO IN MARCH By Josef Ramos

OKYO Olympics bronze medalist has to wait at least three more months before climbing the ring as a pro fighter for the second time. Marcial told reporters on Sunday that MP Promotions president Sean Gibbons informed him that he will be fighting in March either in Los Angeles or Las Vegas in the US. “I am excited to fight again,” Marcial told reporters after he and Tokyo silver medalists Nesthy Petecio and Carlo Paalam were presented their houses and lots in Tagaytay City by Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino and Senator Francis “Tol” Tolentino. “Sean [Gibbons] told me that if I fight for the second time as a pro, I should be in the undercard of a big fight,” he said. “And it will be a sixrounder or an eight-rounder this time.” Marcial, 26 and a middleweight, beat American Andrew Whitfield via unanimous decision in a four-rounder at the Microsoft Center in Los Angeles in

Ginebra Gin Kings all geared up with explosive Brownlee’s return

USTIN BROWNLEE’S back and everything looks bright for head coach Tim Cone and the Barangay Ginebra San Miguel Gin Kings for the Philippine Basketball Association (PBA) Governors’ Cup which opens on Wednesday. “Justin’s presence always makes us a contender,” Cone told BusinessMirror on Monday. “He’s the standard among imports with his championships.” Brownlee arrived last Thursday

from the US and has been practicing with the Gin Kings for four days. Brownlee helped the Gin Kings to four titles in 2016, 2017 and 2019 Governors’ Cup and 2018 Commissioner’s Cup, making him the import to watch among the returning 6-foot6 reinforcements of the conference that was shelved for almost two years because of the Covid-19 pandemic. Brownlee has averages 30.2 points, 12.9 rebounds, 6.3 assists, 2.3 steals and 1.5 blocks in the 2019-

14 peaks in six months IS mountaineering or mountain climbing a sport? According to flypgs.com, “Mountaineering, otherwise known as mountain climbing, is a very popular outdoor sport. There are thousands of mountains in the world, all with their own unique terrain, their own challenges and excitements.” Topendsport.com says, “Mountaineering describes the sport of mountain climbing. This sport is all about challenge and perseverance. This is about putting both hands and feet onto rocks or ice to reach the summit.” Nirmal “Nims” Purja, a Nepalese-born naturalized British citizen, is a mountaineering world record holder. Nims made it to the summits of 14 8,000 meter (26,000

JUSTIN BROWNLEE is back to provide Ginebra firepower.

feet) mountains in six months and six days beating the his target of seven months by almost 30 days. The documentary “14 Peaks: Nothing is Impossible” is a story of the triumph of the human spirit despite insurmountable challenges and adversity. Nims brought the sport of mountaineering to new heights and added himself to the conversation of one of the greatest mountaineers ever. Nims faced a plethora of peaks and valleys in the six months wherein he battled elements like the cold wind, ice and avalanche. One was an avalanche of rejections, I’m sorry’s and no’s. Nims, with the support of his wife Suchi, re-mortgaged his house to fund the expedition. He also had to grapple with his mother’s health and the death of one of his men on they’re first mountain. Nims Purja was also a Gurkha and according to gwt. org.uk, “The Gurkhas are soldiers from Nepal who are recruited into the British Army and have been for the last 200 years. Gurkhas are known to be as fearless in combat as they are good natured in daily life. To this day, they remain renowned for their loyalty, professionalism and bravery.” Nims is the first Gurkha to join the elite British unit, the Special Boat Service or SBS. Project Possible 14/7 was a mission to climb 14 8,000 meter summits in seven months. Nims conquered K2 without the use of supplemental oxygen, the first mountaineer to do it.

December 16, 2020. His next fight after that was at the Asian Boxing Confederation Asian Elite Championships in May 28, 2021, in Dubai where he clinched bronze along with flyweight Mark Lester Durens and bantamweight contender Junmilardo Ogayre. His next stop—and last fight— was at the Tokyo Olympics in August. “It’s a perfect date to fight,” said Marcial, referring to March. “But it’s long overdue. I should be fighting this month, but I got married last month and I had several commitments.” Marcial added: “That’s why I couldn’t train after the Olympics. But now, I’m back to training in my house in Imus. I lift weights, do the bag and jog.” The Air Force sergeant Marcial, who admitted he’s 10 pounds overweight, he would prefer to train in Tagaytay City and immediately got an offer from POC president Tolentino to use the kickboxing gym in the city. The pride of Zamboanga City said he also wanted to join his national teammates in Baguio City, but the boxers will break camp on December 18 for the holidays and will return in early January. By then, Marcial will be flying to the US. “I plan to fly to the US in early January,” he said. “By that time, my

2020 Governors’ Cup that Ginebra won in five games over Meralco. But Cone remained cautious saying all the teams have improved and played impressively in the Philippine Cup specially champion TNT Tropang Giga. “There are a lot of teams which played great in the last conference, including the recent champion, TNT. We’re still looking to bounce back,” said Cone, who tinkered a bit with his roster. Ginebra acquired forward Sidney Onwubere from NorthPort for Art dela Cruz to strengthen the team’s frontline. Ginebra will debut Alaska on Sunday at 6: p.m. at the Ynares Sports Arena in Pasig City. Josef Ramos

Forum on athletics

WO major sporting events will be up for discussion in the online session of the Philippine Sportswriters Association Forum on Tuesday. The Ayala Track and Field Championships in Baguio City is on tap in the 11 a.m. public sports program presented by San Miguel Corp., Milo, Amelie Hotel Manila, Braska Restaurant and the Philippine Amusement and Gaming Corp. Philippine Athletics Track and Field Association President Philip Ella Juico and two of his board members will talk about the December 16 and 17 event. Philippine Racing Commission Chairman Reli De Leon and Executive Director Ronald Corpuz discuss the P10-million Presidential Gold Cup at the Metro Manila Turf Club in Malvar, Batangas, on December 12. The weekly Forum is livestreamed via the PSA Facebook page fb.com/PhilippineSportswritersAssociation and also shared by Radyo Pilipinas 2 Facebook page.

wife’s [Princess] US visa would have been released.” Marcial will be under the care of renowned strength and conditioning trainer Angelo Memo Heredia in the US. He vowed to keep his Olympic gold medal dream in Paris 2024 and will be seeking a slot on the national team to the Hanoi 31st Southeast Asian Games in May and the Huangzhou 19th Asian Games in September.

OKYO OLYMPIAN Erleen Anne Ando has no other way but up when she competes in the International Weightlifting Federation (IWF) World Championships starting on Tuesday at the Uzbekistan Sports Complex in Tashkent. The 23-year-old Cebuana Ando will climb the stage on Saturday in the women’s 59 kgs and no longer in the 64 kgs where she competed in the Asian championships also in Tashkent and the Tokyo Olympics earlier this year. “I think my current lifts and techniques provided me with some advantages here on the world stage,” Ando told BusinessMirror from Tashlent on Monday. “My experience in the Olympics also made me comfortable here.” Ando collected two silver and one bronze medals at the Asian Championships last April but remained wary with her nine opponents led by Russia’s Aleksandra Kozlova and Taiwan’s Hsing-Chun Kuo. “It’s just normal to be nervous sometimes but just don’t bring it in the actual game,” she said. Fernando Agad, a 19-year-old also from Cebu, will be up first for the Philippines at 5 p.m. (Manila time) on Tuesday in the men’s 55 kgs class. The other Filipino bets are Asian 71 kgs double gold winner Vanessa Sarno, Ellen Rose Perez (49 kgs), Asian Championships silver medalist Mary Flor Diaz (45 kgs), Kristel Macrohon (76 kgs) and Margaret Colonia (64 kgs) in the women’s division and John Febuar Ceniza (61 skg), Dave Pacaldo (67 kgs) and John Dexter Tabique (96 kgs) in the men’s contest. Christopher Bureros, Richard Augusto and Roberto Colonia are their coaches. “We are just hoping Agad will lift his best as a first timer here,” Bureros said. A total of 300 weightlifters from 24 countries are competing in the event that ends December 17. Josef Ramos

PHL Olympians honor BAVI, Mascariñas with Arête Award

BOUNTY Agro Ventures Inc. president Ronald Mascariñas receives the award from (from left) former Senator Freddie Webb, Akiko Thomson-Guevara and Gerardo Rosario.

HE Philippine Olympians Association (POA) honored Bounty Agro Ventures Inc. (BAVI), the company behind Chooksto-Go, with the Arête Award recently. BAVI earned the recognition for honoring the country’s past Olympians by providing them livelihood in the form of Chooks-to-Go stores. POA president Akiko ThompsonGuevara, secretary-general Gerardo Rosario and advisor to the board former Senator Freddie Webb personally visited BAVI president Ronald Mascariñas in his home in Calauan, Laguna, last Friday to bestow him the prestigious award. “We are honored to give this award to Mr. Mascariñas and to meet him personally to present this award,” said Webb, a member of the Munich 1972 Olympics men’s basketball team. “We Olympians have gotten old and forgotten, but not Mr. Mascariñas.” “It’s common to see support for Olympians at the peak of their careers but the company just quietly stepped in and provided a means of livelihood for these sports heroes past their glory days,” said Thompson-Guevara, who swam for the country in the 1988, 1992 and 1996 Olympics. “For us, that is just like wow, who does that?” “When the board got together to decide who will take the Arete Award for the year, when the word of livelihood came about, it was not a tough decision for us to award Bounty Agro Ventures Inc,” said Rosario, a swimmer for the Philippine team that competed in the 1972 and 1976 Montral Games. “It was a decision that was approved by all the board members.”

For Mascariñas, receiving the Arête Award inspires him and his company to seek out and help more Filipino athletes. “I am truly honored to personally receive the Arete Award on behalf of Bounty Agro Ventures Inc,” Mascariñas said. “They travelled all the way to my farm in Laguna to physically hand over the award to me. I am humbled and grateful for this gracious act. Past recipients of the Arête Award were the late Celso Dayrit, former president of the Philippine Olympic Committee; Rafael “Paeng” Nepomuceno, Olympian and Guinness World Record holder; Nestlé Milo organization; and Colgate Sports Foundation. Some of the benificiaries of BAVI’s drive were boxers Leopoldo Serante and brothers Roel and Onyok Velasco and descendants of twice swimming bronze medalist Teófilo Yldefonso. Before he died, Serantes received a monthly P100,000 allowance per from BAVI. After his death, the company continued to give his family what was due their patriarch while also assisting in his funeral services. The Velasco brothers were given their own Chooks-to-Go stores while Yldefonso’s family were given monthly supplies of chicken which they can either use or re-sell. Tokyo Olympics bronze medalist Eumir Marcial also got his own Chooks-to-Go store while gaining the company’s support for his professional career. Chooks-to-Go also partnered with the Special Olympics Asia Pacific, carrying out a campaign to benefit people with intellectual disabilities through sports fests and training sessions.