BusinessMirror December 13, 2023 by BusinessMirror

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DROUGHT MAY STRIKE 65 PROVINCES–DOST www.businessmirror.com.ph

n Wednesday, December 13, 2023 Vol. 19 No. 63

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By Samuel P. Medenilla @sam_medenilla

S 65 out of the country’s 82 provinces are projected to suffer drought in the coming months due to El Niño, the government has updated its mitigation measures to cope with the projected lower rainfall next year, according to the Department of Science and Technology (DOST). The DOST said the number of drought-affected provinces could reach 65 by May 2024. The agency noted that majority of global climate models suggest that El Niño will likely persist until the second quarter of next year. “Based on recent conditions, moderate to severe drought conditions are likely from February to May 2024. And by the end of May, 77 percent of the provinces of the country will have potential for drought—that would be around 65 provinces,” DOST Secretary Renato U. Solidum said in a press briefing in Malacañang last Tuesday. “We need to further intensify our efforts to make sure that we are ready for this especially on the various fields that were See “Drought,” A2

GREEN ACTIVISM MEETS GEOPOLITICS At the COP28 UN Climate Summit in Dubai on December 8, 2023, poignant signs reading “stop war” and “go green” catch the attention of passersby, encapsulating the intersection of environmental and geopolitical concerns. The unsettling reality that militaries globally contribute 5.5 percent of all greenhouse gas emissions, as highlighted by the Conflict and Environment Observatory and Scientists for Global Responsibility, adds a layer of complexity to the climate discourse. Notably, these military emissions remain unchecked, as there are no obligations for reporting or reduction. Climate activists, aligning with the calls for a ceasefire and justice for Palestinians, have woven these narratives into their protests at the UN talks. Their perspective revolves around the concept of climate justice, contending that the quest to save the planet from escalating temperatures is intricately linked with the pursuit of a fairer world, especially for the most vulnerable. They draw parallels between the environmental crisis and the plight of Palestinians living under Israeli occupation, asserting that both crises stem from the interplay of colonization and capitalism, emphasizing the need for collective action on multiple fronts. AP/RAFIQ MAQBOOL

GOVT TOLD TO REVISIT INDUSTRIAL POLICY AS OCT EXPORTS FALL 17% By Cai U. Ordinario @caiordinario

HE cou nt r y ’s l ac kluster external trade performance in October 2023 reflected not only the challenges faced by the global economy but also the deep-seated issues stemming from the country’s industrial policy or lack thereof, according to local economists. On Tuesday, the Philippine Statistics Authority (PSA) disclosed that the country’s export earnings declined 17.5 percent, the largest contraction

in six months. The data also showed import receipts contracted 4.4 percent in October 2023, marking the 9th consecutive month that imports declined. “On the whole, it seems that the trade sector is at a standstill. An industrial policy aimed at promoting products with comparative advantage or at creating new products could have broken this impasse,” Ateneo de Manila University economist Leonardo Lanzona told the See “Exports,” A2

‘Allot excess rice tariffs for cash aid, crop insurance’ By Jasper Emmanuel Y. Arcalas @sam_medenilla

ICE planters are assured of receiving at least P15.5 billion in excess tariff collection next year and pundits said this could be used to increase the state’s cash assistance and fund its crop insurance and diversification programs. The latest Bureau of Customs (BOC) data analyzed by the BusinessMirror showed that it has collected P25.55 billion in rice tariffs from January to November, 22.85 percent higher than the P20.798 billion it collected in the same period last year.

With the latest figures, the BOC tallied a new record high in terms of rice tariff collection since the national government liberalized the country’s rice trade regime through Republic Act 11203 in 2019. Publicly available BOC data showed t hat t he bureau collected more rice tariffs despite a 3.88-percent drop in total import volume during the 11-month period. BOC data indicated that the country imported 3.108 million metric tons (MMT) of rice from Ja nu a r y to November, some 125,000 MT lower than the 3.233 See “Rice tariffs,” A2

PESO EXCHANGE RATES n US 55.5980 n JAPAN 0.3804 n UK 69.8144 n HK 7.1235 n CHINA 7.7489 n SINGAPORE 41.3830 n AUSTRALIA 36.5001 n EU 59.8512 n KOREA 0.0423 n SAUDI ARABIA 14.8238 Source:

BSP (13 December 2023)

Wednesday, December 13, 2023

BusinessMirror

‘Foreign investments vital to hitting PHL export goals’ By Andrea E. San Juan @andreasanjuan

HE Philippines is seeking to attract investments in export-oriented industries to drive exports growth and enable the country to compete with its Asean neighbors, according to Trade officials. “To achieve our exports target, it is critical for us to target investment-driven exports,” Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) Director Bianca Pearl R. Sykimte told reporters on the sidelines of an event organized by the Design Center of the Philippines last Monday.

Rice tariffs. . . Continued from A1

MMT it recorded in the same period last year. Pundits and industry players said inbound shipments of rice fell due to higher global prices and supply constraints. Nonetheless, the spike in world rice prices, induced by India’s ban on its exports, has lifted the country’s tariff collection. Given this collection performance, at least P15.55 billion may now be considered as excess rice tariff collection since P10 billion

“We cannot simply grow [our exports]) without foreign investments,” she added. She cited countries like Vietnam that have been able to entice investments in its export-oriented industries. “One of Vietnam’s exports is telephone sets. Baka iyan ’yung Samsung and that is about $65 billion,” she said. “Malaysia’s exports of integrated circuits generate about $78 billion in revenues. It’s roughly the total exports of the Philippines in 2022 and that is just one product,” she added. Sykimte said the DTI has reorganized its organizational structure

to achieve the objectives of the Philippine Export Development Plan (PEDP). Under the PEDP 2023-2028, the government plans to expand export revenues to $240.5 billion in 5 years. Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino S. Rodolfo said during the National Export Congress last week that the government should aspire for a higher exports target. “With all of the collaboration, maybe we should work towards four times or maybe five times the 2021 [exports],” he said. He also revealed that the BOI

is automatically earmarked for the rice competitiveness enhancement fund (RCEF). Under existing laws, rice tariffs in excess of P10 billion will be used to bankroll various programs outside the RCEF, which includes a cash assistance program for rice farmers tilling two hectares and below.

assistance (RFFA) program. At P5,000 each, the DA requires P12.09 billion to cover all the eligible rice farmers tilling below two hectares of land. This would result in a surplus fund of at least P3.5 billion for the 2023 rice tariff collection. Given the surplus, Roehlano M. Briones, senior research fellow at Philippine Institute Development Studies, said the unconditional cash assistance to rice farmers should be increased to utilize all the excess rice tariffs collected by the BOC. If the number of eligible rice farmer beneficiaries next year would remain the same next year,

‘Hike cash aid’

PUBLICLY available Department of Agriculture (DA) documents showed that there are some 2.384 million rice farmers registered in the Registry System for Basic Sectors in Agriculture (RSBSA) who are eligible for its rice farmers financial

might not hit its P1.5-trillion target for investment approvals this year. “I don’t think we can reach P1.5 trillion [of investment approvals] this year. Baka P1.3 trillion. That means also that that would be the highest investment approval of BOI in our 56-year history. So highest on record,” said Rodolfo. In February 2023, the BOI decided to revise its 2023 Investment approvals target from P1 trillion to P1.5 trillion following the “strong” investment approvals recorded in January 2023 alone. The DTI attributed the revision of the investment approvals target for 2023 to the “robust” pipeline of investment leads, including those secured through the foreign trips of President Ferdinand R. Marcos Jr. The DTI had said that the establishment of green lanes will help the Philippines attract more foreign direct investments as this will address the barriers that hamper their entry. then each individual should receive at least P6,500, based on BusinessMirror’s computations. “That is the fastest way to give assistance. So that even rice farmers would have a Christmas bonus,” Briones told the BusinessMirror. He also urged the DA to consider setting aside some funds to update and revalidate the RSBSA list.

Crop insurance, diversification

MEA NW HILE, the Philippine Chamber of Agriculture and Food Inc. President Danilo V. Fausto said the P3.5-billion surplus can be used by the DA to rollout projects that will mitigate the impact of El Niño on the rice sector. Fausto recommended the procurement of small irrigation facilities to ensure that farms will have sufficient water supply next year, when El Niño is expected to cause droughts in some 65 provinces. He added that the DA could also use the funds to encourage rice farmers to diversify their crops, such as planting vegetables. “If we just raise the cash assistance, the rice farmers will just become mendicant,” he told the BusinessMirror. Federation of Free Farmers Inc. National Manager Raul Q. Montemayor agreed with Fausto. “Aside from production and income support, we have to help farmers cope with risks and expand their sources of income beyond palay,” Montemayor told the BusinessMirror. “I don’t think cash transfer is the ideal way to spend the money. If the surplus would just be wasted, then it would be better to be given to the farmers directly then,” he added. Montemayor and Fausto noted that crop insurance and crop diversification are part of the original programs stipulated under the rice trade liberalization (RTL) law when it comes to the use of the excess rice tariff collection. Last year, the state collected a total of P22.796 billion in rice tariffs of which P12.796 billion was earmarked for the RFFA program. However, the excess rice tariff collection is over and above the amount that should be allotted to all the RSBSA-registered eligible rice farmers. At a total cost of P12.09 billion, the state has a surplus of some P706 million in rice tariffs this year. Under existing laws, rice tariffs collected in a given year are certified by the BOC in the following calendar year.

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Drought. . . Continued from A1

already mentioned like health, water, agriculture, sanitation and of course, peace and order; and we also need to involve everyone in this effort,” he added. President Ferdinand R. Marcos Jr. has ordered the creation of a task force led by the National Disaster Risk Reduction and Management Council (NDRRMC) to coordinate the El Niño-related efforts of the government. “We’ll have to organize first the task force. This is the time to put every condition together,” Marcos said during a sectoral meeting last Tuesday. The chief executive also approved the “Updated National Action Plan on El Niño,” which focused on food security, energ y security, health, and fire mitigation measures. During the meeting, Solidum said among the issues which were discussed were the additional budget requests of several government agencies for their El Niño-related interventions as well as a comprehensive government water conservation campaign.

Exports. . . Continued from A1

BusinessMirror. Lanzona noted that the highinterest rates that keep the Philippine peso competitive did not help the country’s imports. This is crucial as the country’s exports are mostly re-exports. He a lso sa id whi le d ig ita l technologies have the potential to improve the sustainability of the country’s exports and enhance its competitiveness, an industrial policy that allows the country to respond to these innovations is key. “Such trends call for some kind of strategy or vision which this government is apparently incapable of designing,” Lanzona said. “At the minimum, the government could have developed skills so that firms can have workers that can respond to new challenges.” Meanwhile, former Socioeconomic Planning Secretary Dante B. Canlas said disruptions claimed by Filipino exporters may have caused the poor external trade performance. On Monday, Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) Director Bianca Pearl R. Sykimte said in the 2023 Data Dissemination Forum on International Merchandise Trade Statistics (IMTS) organized by the PSA, thousands of exporters stopped exporting products. Sykimte said nearly 4,000 exporters stopped shipping their products abroad. This cut down the country’s active exporters in 2022 by around half the number in 2018. (full story here: https:// businessmirror.com. p h / 2 0 2 3/ 1 2 / 1 2 /n e a rl y - 4 kexporters-stopped-shippinggoods/) “If DTI can solve the local supply shocks, exports may recover. The external shocks, however, may persist, causing continuing movements toward elevated food and energy prices,” Canlas said. “[However,]the external shocks are beyond the control of Philippine government policymakers and may dominate, causing problems for Filipino exporters to continue next year,” he added. Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort noted that the country also posted its widest trade deficit in three months. T he PSA said the trade deficit in October rose by 26 percent to

“And it [information campaign] will be a whole-of-government approach. The request is for the whole website of the government [to be tapped for the campaign] so the efforts will be more concerted,” Solidum said. He said water conservation measures should be put in place since dams have sufficient water levels. In fact, he said the Angat Dam was forced to release water due to its high water level. Based on the forecast of DOST, the impact of El Niño will start to significantly worsen next month raising the number of provinces experiencing drought to 11. Currently, there are 6 provinces under dry condition or areas which experienced below normal rainfall for 2 consecutive months. Another 18 provinces are suffering a dry spell. These are areas which have below normal rainfall conditions for three consecutive months or way below normal rainfall conditions for two consecutive months. Currently, only 1 province is experiencing drought, which occurs when rainfall in area is below normal for five consecutive months or is “way below normal” for three consecutive months. $4.17 billion. The trade deficit posted an annual decline of 25.8 percent in September 2023 and 13.1 percent in October 2022. Nonetheless, Ricafort said this was still among the narrowest in one and a half years or since February 2022, largely due to the October data. “ The slowdown in external trade largely reflects the risk of economic slowdown or risk of recession in the US, which is the world ’s largest economy, after aggressive Fed rate hikes since March 2022 in the quest to bring down inflation back to the Fed’s target of two percent and fulfill the mandate of stable prices/inflation, with the unintended consequence of having slower demand/ global trade,” Ricafort said in an economic brief.

Markets

IN October 2023, the country’s total external trade in goods amounted to $16.9 billion, which showed an annual decline of 9.8 percent from the $18.74-billion total external trade in the same period of the previous year. In September 2023, total external trade in goods registered an annual decrease of 11.2 percent, while an annual increase of 12.5 percent was registered in October 2022. By major trading partner, shipments to the US comprised the highest export value, amounting to $1.02 billion or a share of 16 percent of the country’s total exports in October 2023. The other major export trading partner for October was Japan, which accounted for $902.65 million or 14.2 percent of the country’s export earnings. This was followed by the People’s Republic of China, which cornered $880.37 million or 13.8 percent of the total; Hong Kong, $759.02 million or 11.9 percent; and the Republic of Korea, $317.38 million or 5 percent. Meanwhile, the People’s Republic of China was the country’s largest supplier of imported goods valued at $2.6 billion or 24.7 percent of the country’s total imports in October 2023. The other top import sources for the month included Indonesia, which accounted for $917.53 million or 8.7 percent of the country’s imports for October, followed by Japan, which cornered $834.89 million or 7.9 percent of the country’s import receipts. The data also showed the Republic of Korea accounted for $785.81 million or 7.5 percent of total imports and the US with $711.77 million or 6.8 percent of the total.

Wednesday, December 13, 2023

www.businessmirror.com.ph • Editor: Vittorio V. Vitug

Turkish firm completes delivery of 6 T-129 ‘Atak’ choppers to PAF

he Turkish Aerospace Industr ies has completed the delivery of six T-129 “Atak ” attack helicopters to the Philippine Air Force (PAF). PAF said it will formally accept into service the last two units this coming December 20. In an advisory Monday night, PAF said the two T-129s, delivered last November 30, will also be commissioned and blessed at the Wallace Air Station in San Fernando City, La Union. Defense Secretary Gilberto C. Teodoro Jr. is expected to be the event’s guest-of-honor and speaker. The delivery of the six T-129s is part of Horizon 2 of the Armed Forces of the Philippines (AFP) Modernization Program. Its contract, signed on July 20, 2020, is worth $269 million. The new air assets will complement a pair of refurbished

Bell AH-1S Huey “Cobra” attack helicopters from Jordan, along with armed light observation and transport helicopters in PAF’s inventory. The first two T-129s were delivered last March 9, 2022, while the second batch of two was delivered in December of that year. The T-129 is a twin-engine, tandem seat, multi-role, all-weather attack helicopter armed with a variety of guns, rockets, missiles, sensors and targeting systems. It has a cruising speed of 120 knots and a range of 250 nautical miles. Aside from the two T-129s, the PAF will also be commissioning a Japanese-made air surveillance radar system acquired from Mitsubishi Electric Corporation. The contract for this equipment is worth P5.5 billion. Rex Anthony Naval

Manila and Beijing exchange protest notes in back-to-back WPS incidents By Malou Talosig-Bartolome

ANILA and Beijing have exchanged protest notes in back-to-back maritime incidents in the West Philippine Sea. Department of Foreign Affairs (DFA) Undersecretary Teresa Lazaro summoned Chinese Ambassador to Manila Huang Xilian Monday and verbally conveyed the Philippine government’s “strong protest” against the “back-to-back aggressive and harassing actions” by Chinese forces on Philippine vessels near the Ayungin Shoal in the West Philippine Sea (WPS). In the same meeting, Ambassador Xilian lodged “stern representation and strong protests” to the DFA executive. The Ministry of Foreign Affairs

of China in Beijing also said it also lodged “serious démarche in strong protest” to the Philippine side.

Ayungin Shoal is ‘not an island

DFA protested the collision between Philippine Armed Forcescontracted M/V Unaiza Mae 1 and the Chinese Coast Guard’s illegal shadowing and “undue use” of water cannons near Ayungin Shoal last Sunday. “ The DFA reiterated to the Chinese Ambassador that Ayungin Shoal is not an island. It is a low-tide elevation within the Philippines’ exclusive economic zone (EEZ) and continental shelf, in accordance with UNCLOS and as upheld by the 2016 Arbitral Award. As such, the Philippines exercises sovereign rights and

jurisdiction over the feature. As a low-tide elevation, Ayungin Shoal can neither be the subject of a sovereignty claim nor is it capable of appropriation under international law,” DFA spokesperson Ma. Teresita Daza said. The DFA likewise protested China’s conduct of “dangerous maneuvers” and use of water cannons against three Bureau of Fisheries and Aquatic Resources (BFAR) vessels—the Datu Sanday, Datu Bankaw and Datu Tamblot last Saturday. The three BFAR vessels, the DFA argued, were merely engaged in a humanitarian and support mission to provide fuel and grocery packages to Filipino fishermen who are “only trying to fish in their traditional fishing ground of Bajo de Masinloc.”

The protest was conveyed by the DFA and the Philippine Embassy in Beijing to the Chinese Ministry of Foreign Affairs on Sunday. Daza stressed that China has “no right to interfere with the Philippines’ legitimate activities in the Philippines’ own EEZ,” including in the waters around Ayungin Shoal. “The actions of the Chinese vessels within the Philippine EEZ are illegal and violate the freedom of navigation,” she added. Lazaro then demanded China to “immediately” direct its vessels to “cease and desist from its illegal actions.” The Chinese Coast Guard, Chinese Navy and militias should also “stop interfering in legitimate Philippine activities” in the WPS.

the results of manual counting do not correspond with Smartmatic ERs,” he said. “This will also confirm the total disqualification of Smartmatic, which has followed up TRO before SC.” In a ruling last November, Smar tmat ic was d isqua l if ied from participating in any bidding “ in all Comelec procurement,” said Comelec Chairman George Garcia. (Related story: https://businessmirror.com. ph/2023/11/30/comelec-barss m a r t m a t ic-f ro m- e lec t io nbids/) The resolution from the Comelec en banc stated: “Smartmatic Philippines Inc. is disqualified and disallowed from participat-

ing in any public bidding process for elections, in the exercise of its administrative power to decide all matters affecting election and in pursuit of its constitutional mandate.” Asked to comment on the petition, Garcia said that the poll body has yet to receive a copy of the petition but at the same time, they were also expecting it to happen. “Ang Comelec naman ay willing and very much ready to defend our position sa ating Korte Suprema [The Comelec is willing and very much ready to defend our position to our Supreme Court],” said Garcia on Tuesday. “Sa bandang huli, ang SC naman may final say sa bagay na yan [In the end, the SC has the final say on that matter],” he added.

PHL, US military officials Smartmatic seeks TRO vs Comelec’s DQ ruling tackle regional security

a n k i n g Filipino and American military chiefs on Monday discussed t h e c u r re n t re g i o n a l s e c u r i t y environment amid a series of incidents in the West Philippine Sea (WPS) over the weekend that included the blasting of water cannons against Philippine vessels in the vital waterway via telephone conference. The discussion took place after Armed Forces of the Philippines (AFP) chief Gen. Romeo Brawner Jr. talked with US Joint Chiefs of Staff chair Gen. Charles Brown Jr., military public affairs office chief Col. Xerxes Trinidad said in a statement Tuesday. Brawner and Brown, he added, agreed to maintain “close coordination amidst worsening illegal activities of the China Coast Guard (CCG) targeting rotation and re-provisioning missions and patrols of Philippine government vessels in the WPS.”

Both officials also discussed mutual strategic security interests and opportunities for increased military cooperation. “The call reaffirms the AFP’s commitment to the Philippine-United States alliance under the framework of the Mutual Defense Treaty and in upholding a rules-based international order and the shared vision of a free and open Indo-Pacific Region,” Trinidad said. The call between Brawner and Brown took place after a series of incidents in the WPS where CCG ships and their maritime militia aggressively maneuvered and fired water cannons against Filipino vessels in Bajo De Masinloc and Ayungin Shoal where BRP Sierra Madre and its contingent is keeping watch over the territory. These incidents resulted in the damaging of at least three Filipino ships. Rex Anthony Naval

By Patrick V. Miguel

oll technology firm Smartmatic Philippines Inc. has filed a petition for a temporary restraining order (TRO) before the Supreme Court (SC) against the decision of the Commission on Elections (Comelec) to disqualify them from participating in future elections. The petition filed by Smartmatic was revealed by Truth and Transparency (TNT) Trio member Franklin Fayloga Ysaac. In a Facebook post, Ysaac said, “As expected, Smartmatic, through their lawyer ACCRA, filed temporary restraining order re: disqualification order by Comelec

before the SC.” Ysaac was among the petitioners who filed the disqualification of Smartmatic, along with former Department of Information and Communications Technology (DICT) Undersecretary Eliseo Mijares Rio Jr., former Comelec Commissioner Augusto Cadelina Lagman, and Leonardo Olivera Odono. “Our lawyers are ready to file our comments after SC requests our response. Comelec will be given the same order by SC to respond to this TRO filing,” Ysaac said. So far, Ysaac and other petitioners have emailed the poll body, requesting to open certain ballot boxes of their choice. “This choice will prove that

DOH records 36% jump in new Covid cases from Dec5 to 11

he Department of Health (DOH) on Tuesday reported a total of 1,821 new Covid-19 cases from December 5 to December 11, higher by 36 percent as compared to the previous week. According to the DOH, an average of 260 cases per week were recorded. Th e re we re 1 3 d e at h s re p o r te d wherein six happened on November 28 to December 11. As of December 10, the DOH said that there were 228 severe and critical cases admitted in hospitals due to Covid. Of the 1,298 ICU beds for Covid patients, 176 (13.6 percent) are occupied. Meanwhile, over 78 million individuals or 100.44 percent of the target population are vaccinated, while 23 million received their booster shots. On the other hand, 7.1 million senior citizens or 82.16 percent of the target A2

population got their primary series. Earlier, the DOH said that Covid-19 cases have been “steadily rising” in the recent weeks. “Respiratory illnesses, such as influenza and Covid-19 infections, are anticipated to increase during the rainy season and the colder months,” the DOH said. “As the SARS-CoV-2 virus, which causes Covid-19 continues to circulate, continued case transmission is expected regardless of the season,” the DOH added. Moreover, case trends are largely affected by compliance to minimum public health standards and testing behaviors. “However, we put more value on hospitalizations on severe and critical cases as we shift our goal towards reducing the overall vulnerability of the population,” the DOH said. Claudeth Mocon-Ciriaco

Pampanga solon bares House plan to revive Cha-cha in 2024

enior Deputy Speaker Aurelio “Dong” Gonzales II announced on Tuesday that the House is planning revive efforts to amend the 1987 Constitution next year. This declaration follows Speaker Martin G. Romualdez’s acknowledgment of the need to address the deadlock on the voting process for constitutional amendments within the bicameral Congress, comprised of the House and the Senate. “We will try to pursue it by next year, on the resumption of the third regular session. We will tackle [charter change or the] amendments to the 1987 Constitution,” Gonzales said. “New Constitution of the New Philippines. How can you work if the Philippines is new but the Constitution is old?” said Gonzales,

who represents the third district of Pampanga. On Monday, Romualdez announced the House’s intention to initiate a people’s initiative to determine the voting procedures of Congress for proposals amending the 1987 Constitution. Romualdez admitted the procedural gap in the Constitution, which does not explicitly state whether the House and the Senate should vote jointly or separately when amending the Charter. While the 1987 Constitution outlines three modes for amending the Constitution—constituent assembly, constitutional convention, and people’s initiative—it lacks clarity on the voting process, said Romualdez during the Philippine Economic Forum in Iloilo.

Jovee Marie N. Dela Cruz

Editor: Vittorio V. Vitug • www.businessmirror.com.ph

Wednesday, December 13, 2023

4 down, 2 more to go: ROW acquisition for NSCR almost done, DOTr chief says By Lorenz S. Marasigan @lorenzmarasigan

he Department of Transportation (DOTr) said on Tuesday it is hastening the construction of the North-South Commuter Railway (NSCR), as the government delivers a hundred percent of the right of way (ROW) requirements for four of its six stations. In a media advisory, Transportation Secretary Jaime Bautista said the “project is being fast-tracked to meet commuter demands.” He cited a report from incoming DOTr Undersecretary for Railways and current Philippine National Railways (PNR) General Manager Jeremy S. Regino, who was quoted as saying that progress of the construction of the NSCR “remains on schedule.” Regino specifically highlighted the Tutuban-Malolos (N1) segment and Malolos-Clark (N2) segment. So far, ROW of four—Apalit, Angeles, Clark and Clark International Airport—out of the six stations has been handed over to the contractor at 100 percent, while about 76 percent of ROW has been handed over for the Malolos to Clark segment. The NSCR project involves the construction of a 147-kilometer train line that will connect the northern and southern parts of Luzon. It also includes the operations and maintenance of trains, stations, depot, and other systems and infrastructure, and a concession period of 15 years of full operations in addition to partial operations period. The project also includes inter operations management within the rail system by trains from other lines such as the subway project, collection of passenger fares, and exercise of commercial development rights within prescribed station boundaries, among others. Bidding for the operations and maintenance contract of the NSCR is scheduled for the fourth quarter of 2023 to the first quarter of 2024. It is expected to begin “partial operations from West Valenzuela to Malolos in the second quarter of 2027, while full operation will start third quarter of 2029,” the DOTr said.

PBBM authorizes grant of service recognition pay to state workers By Samuel P. Medenilla

@sam_medenilla

ualified government workers will soon be getting a cash incentive, or gratuity pay (GP), in time for the Christmas holidays after President Ferdinand R. Marcos Jr. issued two new orders. In his Administrative Order (AO) No. 12, t he C h ief E xec ut ive aut hor i zed t he g ra nt of a one - t i me P 20,0 0 0 s e r v ice r e c o g n it i o n i n c e nt i v e (S R I ) for f isca l yea r (F Y ) 2023 for e mplo ye e s of t he E x e c ut i ve depa r t ment.

Covered personnel

T h e re c ipie nt s w i l l i nc lude regular, contractual or casual workers employed in national government agencies, including state colleges and universities, as well as government-owned or controlled corporations (GOCC).

It will also cover personnel of the Armed Forces of the Philippines (AFP), Department of National Defense (DND), Philippine National Police (PNP), Bureau of Fire Protection (BFP), Bu re au of Ja i l M a n a ge me nt and Penolog y (BJMP), Bureau of Corrections (BuCor), Philippine Coast Guard (PCG), and the National Mapping and Resource Information. AO 12 also allowed the judicial and legislative branches of the government as well as Local Water Districts (LWD) to grant a similar SRI to their workers. L oca l gover nment units (LGU) can also extend SRI to their employees depending on their financial capability.

SRI requirements

To qualify for the SRI, the worker should still be in government

service as of November 30, 2023 and have rendered at least four months of satisfactory service. Those who were unable to meet the four-month service requirement will be given the following pro-rated SRI: 3 months but less than four months (40 percent); 2 months but less than 3 months (30 percent); 1 month but less than 2 months (20 percent), less than 1 month (10 percent). Excluded from the SRI are those who received additional year-end benefit in FY 2023 over and above Republic Act (R A) No. 6686; consultants and experts; laborers engaged through job contracts and paid on a piecework basis; student workers and apprentices; and individuals and groups of people whose services are engaged through job orders (JO), contract of service (COS) or others similarly situated.

Saskatchewan province of Canada hiring 500 skilled Pinoy workers By Malou Talosig-Bartolome

HE southwestern province of Canada, Saskatchewan, is actively hiring at least 500 Filipinos for a range of jobs from automotive, manufacturing, trade, healthcare, construction, and agriculture. Jeremy Harrison, Saskatchewan minister of immigration and trade and export development is

leading the delegation of 25 Canadian employers in Manila. The economy of Saskatchewan, he claimed, has been doing well and needs more workers. “We have more jobs than people,” Harrison told the BusinessMirror. He said the province resumed their active recruitment in the Philippines because top migrants in the Saskatchewan are Filipinos,

and 90 percent of them stayed. Out of the 1.6 million people, 40,000 are Filipinos. After English and French, Tagalog is the third most spoken language, too, in Saskatchewan. “Filipinos in Saskatchewan have done extremely well, extraordinary well,” Harrison said. Richelle Bourgoin, Saskatchewan’s deputy minister for immigration, said if the papers of

job seekers are complete and in order, the Filipino applicants can be easily hired in a matter of two weeks. Unlike other countries, job applicants who will be hired in Saskatchewan will have a better chance for permanent residency and eventually, citizenship. Rusell Cailan, a Filipino hotel operations manager said the opportunity for Filipino job ap-

Gratuity pay

JOs and COS, who have rendered at least four months of satisfactory performance, will be given a one-time P5,000 gratuity pay under AO No. 13. They should also have contracts, which are still in effect as of December15, 2023, with NGAs, SUCs, and GOCCs. If they worked less than four months, they will receive their gratuity pay on the following prorated basis: 3 months but less than 4 months (not exceeding P4,000); 2 months but less than three months (not exceeding P3,000); and less than 2 months (not exceeding P2,000). Marcos said he issued AO 12 and 13 last Thursday to recognize the hard work of government employees. The payment of the SRI and GP should be completed not later than December 15, 2023. plicants is better now because of the Saskatchewan Immigrant Nominee Program (SINP). Cailan, 42, left her lucrative job as training manager in a casino hotel in Pasay. In 2019, she migrated to Vancouver, Canada on a student visa, together with her husband and three children. “So I paid a lot,” she said, adding that she had to sell their house in Alabang to pay for tuition and for her entire family settle in Vancouver. After completing her studies, she was offered a job as operations manager of a casino hotel in Saskatoon. She said the standard of living in Saskatchewan is low, compared to other major cities in Canada.

Romualdez: Prompt passage of budget to avert economic slowdown in 2024

ouse Speaker Martin Romualdez is optimistic that the country will not experience an economic slowdown in the coming year due to the timely

passage and ratification of the 2024 General Appropriations Bill amounting to P5.768 trillion. According to the House leader, the economic slowdown witnessed in the

second quarter of 2023, attributed to low fund utilization or government spending, is not expected to recur. He anticipated a smoother allocation of funds for programs and

projects without glitches due to the prompt approval of the budget in 2024. Romualdez confirmed that the House would utilize its oversight functions in January to monitor the implementation of programs and agencies that received additional funding in the final version of the 2024 national budget. “The aim is to ensure the correct, swift, and efficient execution of funded programs, allowing the economy and the citizens to immediately feel the impact,” said Romualdez. Romualdez reiterated that the 2024 budget is “pro-poor,” emphasizing the allocation of resources to social services, health, education, and housing programs. He said this strategic focus aims to address the needs of the most vulnerable sectors of society, reflecting the government’s commitment to

inclusive development. Romualdez said the 2024 General Appropriations Bill “plays a crucial role in realizing these priorities.” “The key priorities of the P5.768 trillion budget remain the same: education, healthcare, infrastructure, social services, social welfare, and many others. But we’re most proud of three legacy projects that President Ferdinand Marcos Jr. hopes to fulfill through this budget. These are the Legacy Food Security, Legacy Specialty Hospitals, and Legacy Housing for the Poor,” he added. “It is not just a financial document; it is a blueprint for national development and a tool for improving the lives of every Filipino. It will allocate funds necessary for infrastructure projects, educational reforms, healthcare improvements, business development, and agricultural support,” he said. Jovee Marie N. Dela Cruz

BusinessMirror

Wednesday, December 13, 2023

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

66 GLOBAL SOLUTIONS INC. 5/f 6/f 7/f And 10/f Ssk Building, Block 7 Lot 5 Kennedy Road Cor. Mindanao Avenue, Don Galo, City Of Parañaque PAN, HSIN-I IT Technical Mandarin 1.

Brief Job Description: Oversee all support and clerical work within a company. WANG, JUN-SHENG IT Technical Mandarin

Brief Job Description: Oversee all support and clerical work within a company. WANG, QIAO-HUI IT Technical Mandarin

Brief Job Description: Oversee all support and clerical work within a company. YAN, YU-SONG IT Technical Mandarin

Brief Job Description: Oversee all support and clerical work within a company.

Basic Qualification: Excellent communication skills, both verbal and written.

LUU MINH HANG Vietnamese Travel Consultant 15.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent communication skills, both verbal and written.

16.

Brief Job Description: With great enthusiasm for traveling. Will be responsible for promoting and booking travel arrangements for Vietnamese clients. The goal is to enhance satisfaction and acquire an expanding and dedicated clientele.

MUBI, ZAN Market Specialist - Lufthansa City Center 17.

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

Brief Job Description: Responsible for handling the marketing and sales related inquiries from the Lufthansa City Center (LCC) and other German speaking markets.

WAN, PENG AHS Specialist [CHI] 5.

Brief Job Description: Communicates effectively via email and/or telephone with buyers, merchants and internal customers.

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

Brief Job Description: Managing incoming calls and customer service inquires. PHUNG SEN DAU Vietnamese Customer Service Representative

Brief Job Description: Managing incoming calls and customer service inquiries.

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

18.

10.

Brief Job Description: Creating and updating customer’s account information.

QIU, MINMIN Mandarin Customer Service Specialist Brief Job Description: Creating and updating customer’s account information.

ZHOU, HONGXIA Mandarin Customer Service Specialist Brief Job Description: Creating and updating customer’s account information.

Basic Qualification: Excellent verbal and written communication in Mandarin language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent verbal and written communication in Mandarin language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent verbal and written communication in Mandarin language. Salary Range: Php 30,000 - Php 59,999

CHAN LAI FUN Malaysian Travel Consultant 11.

Brief Job Description: Will be responsible for promoting and booking travel arrangements for Malaysian clients.

LAI ZI HUI Malaysian Travel Consultant 12.

Brief Job Description: Will be responsible for promoting and booking travel arrangements for Malaysian clients.

LAI ZI XIN Malaysian Travel Consultant 13.

Brief Job Description: Will be responsible for promoting and booking travel arrangements for Malaysian clients.

SIRIWONGYOTHA, PIPAT Thai Travel Consultant- Thai Bilingual 14.

Brief Job Description: The Thai Travel Consultant- Thai Bilingual provides support and intermediation in the sale of airline tickets in the Thai clients.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 6 months - 1 year experience as a consultant. Fluent in Malaysian/Bahasa and English languages.

19.

20.

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

29.

Brief Job Description: Support financial consultants in providing excellent customer service to clients.

TABUCHI, TAIKI Technical Adviser 21.

Brief Job Description: Support management in technical matters. Product research and development. Process and product improvements.

31.

22.

Brief Job Description: Service Support solution includes diagnosis, resolution and reporting of customer’s issue and questions relating to YT paid content products.

Basic Qualification: Can speak, write, and type in Mandarin language.

23.

Brief Job Description: Identify and maintain new business opportunities and existing partners. ZHANG, CHENGZU Chinese Speaking Business Development Associate

24.

Brief Job Description: Assist with drafting business plans, sales, pitches, presentations, reference material and other documents as required. ZHAO, CHANGBIN Chinese Speaking Business Development Associate

25.

Brief Job Description: Assist with drafting business plans, sales, pitches, presentations, reference material and other documents as required. NGUYEN VAN THUAN Chinese Speaking Graphic Designer

26.

Brief Job Description: Prepare rough drafts and present ideas and conceptualize visuals based on requirements. DAO THI THANH HUYEN Chinese Speaking Graphic Designer

27.

Brief Job Description: Planning concepts by studying relevant information and materials.

Brief Job Description: Planning concepts by studying relevant information and materials. MAJI GAM Chinese Speaking Graphic Designer

33.

Brief Job Description: Prepare rough drafts and present ideas and conceptualize visuals based on requirements. NGUYEN THI YEN Chinese Speaking Graphic Designer

Basic Qualification: Must be fluent in Chinese language (writing & speaking).

34.

Basic Qualification: Must be fluent in Chinese language (writing & speaking).

35.

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

Basic Qualification: BA or BS Degree, in lieu of degree, 4 yrs. of relevant work experience.

36.

37.

38.

39.

40.

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

Brief Job Description: Communicate overall design and approach to a team of programmers and create flowcharts, diagrams, other models, and programming instructions to guide programming team.

LUO, YE Chinese Speaking Program Designer 41.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions.

NGUYEN THI THANH HUYEN Chinese Speaking Program Designer 42.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Communicate overall design and approach to a team of programmers and create flowcharts, diagrams, other models, and programming instructions to guide programming team. LUO, GUANGHUA Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven graphic designing experience. Good in verbal and written communication.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions.

JIANG, HUAHUA Chinese Speaking Program Designer

Basic Qualification: Excellent written and verbal communication skills. With strong organization and project management skills.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions.

DAI, YAQI Chinese Speaking Program Designer

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

Brief Job Description: Planning concepts by studying relevant information and materials.

CHEN, ZUXIANG Chinese Speaking Program Designer

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

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

Brief Job Description: Prepare rough drafts and present ideas and conceptualize visuals based on requirements TRINH LINH CHI Chinese Speaking Graphic Designer

Basic Qualification: Graduate of Applied Chemistry, with at least 5 years of work experience in a related field. Salary Range: Php 150,000 - Php 499,999

Brief Job Description: Prepare rough drafts and present ideas and conceptualize visuals based on requirements. SUHARTONO Chinese Speaking Graphic Designer

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

CRONYX INC. 6-12, 15-19/f Royal Peak Tower A, 485 Quirino Avenue, Tambo, City Of Parañaque

SONG, ZHIBIN Chinese Speaking Business Development Associate

Brief Job Description: Planning concepts by studying relevant information and materials.

KANG, WENHAN Chinese Speaking Graphic Designer

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig TRAN THI XUAN AN Process Specialist - Voice

Brief Job Description: Planning concepts by studying relevant information and materials.

HOANG TRONG SON VIET Chinese Speaking Graphic Designer

32.

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

Brief Job Description: Planning concepts by studying relevant information and materials.

HO TIEN NAM Chinese Speaking Graphic Designer 30.

Basic Qualification: Holder of a Bachelor’s Degree in Tourism and Hospitality. With excellent verbal and written communication skills, specifically in German language. With at least 2 years of work experience in the customer service/ hospitality industry.

Brief Job Description: Planning concepts by studying relevant information and materials.

GU, XUEFENG Chinese Speaking Graphic Designer

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

CDI SAKATA INX CORP. Don Jesus Blvd., Alabang Hills, New Alabang Village, City Of Muntinlupa

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must have at least 1 year of experience working in a travel industry company, either from a BPO which is travel related, or from an actual travel agency as a consultant. Fluent in written and spoken Thai language. Good English language communication skills.

Brief Job Description: Support financial consultants in providing excellent customer service to clients. YE, HONGQUN Client Care Associate Mandarin Speaking

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 6 months - 1 year experience as a consultant. Fluent in Malaysian/Bahasa and English languages.

Brief Job Description: A Quality Assurance Tester is a professional who tests the functionality and usability of new or existing software before it goes live to ensure it is bug-free. They work closely with developers, providing them feedback on what needs improvement in order to produce top-quality programs that meet customer expectations.

WANG, LIN Client Care Associate Mandarin Speaking

BEAUTIFUL PHILIPPINE TRAVEL AND CONSULTANCY SERVICES, INC. Unit Ug-50 Cityland Dela Rosa Condo., Dela Rosa St., Pio Del Pilar, City Of Makati Basic Qualification: College Graduate. Preferably 6 months - 1 year experience as a consultant. Fluent in Malaysian/Bahasa and English languages.

28.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 6 months - 1 year experience as a consultant. Fluent in Vietnamese and English languages.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION DUONG THI HUONG Chinese Speaking Graphic Designer

C&I MARKETING CORPORATION 4/f 6780 Bldg., 6780 Ayala Ave., San Lorenzo, City Of Makati

B2B ANALYTICS AND MARKETING SERVICES CORPORATION 28/f Tower, 6789 Ayala Ave., Bel-air, City Of Makati LI, TENGFEI Mandarin Customer Service Specialist

No.

WANG, YANLING Quality Assurance Tester

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

Basic Qualification: College Graduate. Preferably 6 months - 1 year experience as a consultant. Fluent in Vietnamese and English languages.

BZC IT SERVICES INC. 3f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati

ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D., Macapagal Blvd. Cor. Aseana Street, Tambo, City Of Parañaque LI CHEIN KAUNG Burmese Customer Service Representative

QUALIFICATION AND SALARY RANGE

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

AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex, Harbour Drive Cor. Bay Shore, Brgy. 076, Pasay City Basic Qualification: Proficient in Mandarin language. Leverages team knowledge across several specialty areas to help resolve recurring seller issues.

ESTABLISHMENT / ADDRESS

BLUE HORIZONS TRAVEL & TOURS, INC. 16/f Tower 6789, 6789 Ayala Ave., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent communication skills, both verbal and written.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

43.

Brief Job Description: Communicate overall design and approach to a team of programmers and create flowcharts, diagrams, other models, and programming instructions to guide programming team.

QUALIFICATION AND SALARY RANGE Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven graphic designing experience. Good in verbal and written communication. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven graphic designing experience. Good in verbal and written communication. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven graphic designing experience. Good in verbal and written communication. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION TRIEU KIM THANH Chinese Speaking Program Designer

44.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions.

XIAO, JIAO Chinese Speaking Program Designer 45.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions. XIE, JUNHUA Chinese Speaking Program Designer

46.

47.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

No.

62.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

XU, ZIYUAN Chinese Speaking Graphic Designer 63.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

64.

65.

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

48.

Brief Job Description: Responsible for providing overall administrative support to the team he/ she will be assigned to.

LIU, XIAOHAI Chinese Speaking Business Development Associate 49.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

ZHANG, GENGYANG Chinese Speaking Business Development Associate 50.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

CAO, LIJIA Chinese Speaking Data Entry Clerk 51.

Brief Job Description: Entering and updating information into relevant databases. CHE NHI MUI Chinese Speaking Data Entry Clerk

52.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. DEDYYANTO Chinese Speaking Data Entry Clerk

53.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. NONG, NGOC NGA Chinese Speaking Data Entry Clerk

54.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. WANG, FENG Chinese Speaking Data Entry Clerk

55.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. ZHANG, SEN Chinese Speaking Data Entry Clerk

56.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients.

AYE MWAY Chinese Speaking Graphic Designer 57.

Brief Job Description: Planning concepts by studying relevant information and materials.

CHEN, XIAOBO Chinese Speaking Graphic Designer 58.

Brief Job Description: Liaising with clients to determine their requirements, timescale and budget.

LU, SONGLING Chinese Speaking Graphic Designer 59.

Brief Job Description: Liaising with clients to determine their requirements, timescale and budget.

MO, KAIHONG Chinese Speaking Graphic Designer 60.

Brief Job Description: Liaising with clients to determine their requirements, timescale and budget.

WANG, JU Chinese Speaking Graphic Designer 61.

Brief Job Description: Planning concepts by studying relevant information and materials.

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

66.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999

67.

68.

Brief Job Description: Communicate overall design and approach to a team of programmers and create flowcharts, diagrams, other models, and programming instructions to guide programming team.

SHARMA, JAI KISHAN Restaurant Operation Supervisor 69.

Brief Job Description: Manage and keep the smooth operation of the restaurant. Supervise both the kitchen and wait staff, providing necessary feedback. Write daily budget reports on both revenue and costs.

YAU, KWOK FAI Store Manager 70.

Brief Job Description: Monitor and achieve store performance with relevant KPIs. Contribute to the store sales target.

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

78.

Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

79.

71.

72.

WANG, JIAN Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record. ZHANG, SIYUAN Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

73.

Brief Job Description: Supervise company activities and operations. Assist in the hiring and training of beauticians as required. Arranging and managing the salon employee’s work schedules.

YANG, SHUAI International Design Specialist 80.

74.

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

CHAM JIA MING Malaysian Customer Service Representative 75.

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

PHOPHRAI, CHALISA Thai Customer Service Representative 76.

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

DANG VAN THI Vietnamese Customer Service Representative 77.

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

Brief Job Description: Create design for new construction projects, alterations and redevelopments based on international standards.

Basic Qualification: Strong analytical skills and the ability to effectively communicate with users and problems. Salary Range: Php 30,000 - Php 59,999

HUAWEI TECHNOLOGIES PHILS. INC. 53/f Pbcom Tower, 6795 Ayala Ave., Cor., V.a. Rufino St., Bel-air, City Of Makati

CHEN, SHUQIAN Account Manager Of Dito Account Department 81.

Brief Job Description: Cooperate with customers to achieve the company’s business objectives. Collaborate with customers to hold various brand cooperation activities. Monitor the endto-end payment collection process.

Basic Qualification: Must have minimum of 3 years of experience as account manager responsible for projects related to communication equipment. With senior management skills. Skillful in in connecting with other people. Salary Range: Php 150,000 - Php 499,999

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Basic Qualification: With at least 5-year work experience as technical director for core DC projects. With leadership skills in driving the organizational mission and good at process execution and optimization. With good knowledge in shared service business framework. Expert in managing GSC digital delivery center.

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

ZHOU, PENGGUANG Technical Director For Philippines Dito Core DC Relocation

82.

Basic Qualification: College graduate. With previous work experience in a similar capacity. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Master’s degree holder. With at least 8 years of minimum work experience in the retail/luxury industry. Strong commercial and customer service mindset.

HUANG, XIAOLONG Mandarin Marketing Officer

83.

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

Basic Qualification: Can speak Mandarin language.

84.

Basic Qualification: Can speak Mandarin language.

Basic Qualification: Master’s degree holder. Duly elected by the Board of Directors.

Brief Job Description: The Mandarin Marketing Officer is responsible for managing marketing and mainly focuses on the practical application and management of an organization’s marketing operations. For marketing officer to be efficient and effective in performing their functions, they should have excellent communication and analytical skills. LI, ZHEN Mandarin Marketing Officer

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

Brief Job Description: Design high-level and low-level work plans. Develop scripts and tools to simplify workflows and improve work efficiency. Provide technical solutions for customer’s live network environment. Manage team, assign team tasks, supervise task execution and acceptance. Participate in the acceptance test with the customer and output the test report.

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

HUBEI SHUIZONG WATER RESOURCES AND HYDROPOWER CONSTRUCTION CO. LTD. PHILIPPINES BRANCH OFFICE Unit 702 State Condo I, 186 Salcedo St., San Lorenzo, City Of Makati

85.

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

IC AUTOMOTIVE INC. Block 8 Lot 2, 5th Ave. Cor. 24th St. Bonifacio Global City, Fort Bonifacio, City Of Taguig

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

MANSILLA, VINCENT FERDINAND Finance Director

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

WU, AN-NI Chinese Customer Service Representative

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

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

FRANZ SALON INC. (BEAUTY SALON MIRAI) Unit 228 2nd Floor Mitsukoshi Mall, 8th Ave. Cor. 36th St. Grand Central Park Bgc, Fort Bonifacio, City Of Taguig MORIKAWA, JUMPEI Director

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

QUALIFICATION AND SALARY RANGE

GOLDEN TOPPER EQUITY HOLDINGS (PHILIPPINES) INC. 27th Flr. High Street South Corporate Plaza Tower 2, 26th Street, Cor. 9th Ave. Bonifacio Global City, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

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

PHAM NGOC HUONG Vietnamese Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With experience in computer-aided design. Good in verbal and written communication.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

NGUYEN THI TRANG DAI Vietnamese Customer Service Representative

FLYING FUTURE SERVICES INC. 21/f Yuchengco Tower 1 Rcbc Plaza, 6819 Ayala Ave, Bel-air, City Of Makati

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

Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

No.

FENDI PHILIPPINES CORP. 27th Floor, Tower 2, The Enterprise Centre, 6766 Ayala Avenue Cor. Paseo De Roxas, San Lorenzo, City Of Makati

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

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

QUALIFICATION AND SALARY RANGE

EXCELLENT JNGR RESTO FOOD CORP. (ROYAL INDIAN CURRY HOUSE) G/f-5/f, 5345 Gen. Luna St., Poblacion, City Of Makati

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Testing and deploying programs and systems, verifying, and deploying programs, and systems. TRAN, THI CHINH Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

Brief Job Description: Liaising with clients to determine their requirements, timescale and budget.

CHU, KAIJUN Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

Brief Job Description: Liaising with clients to determine their requirements, timescale, and budget.

ZHANG, BINGYANG Chinese Speaking Program Designer

DYNAMIC STUDIO TECHNOLOGY INC. 5th To 8th/f & 10th/f Platinum Tower Building, Aseana Ave. Cor. Fuentes Street, Baclaran, City Of Parañaque FENG, SHUNYI Chinese Speaking Admin Associate

Brief Job Description: Liaising with clients to determine their requirements, timescale and budget.

YE, XUYUAN Chinese Speaking Graphic Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Liaising with clients to determine their requirements, timescale, and budget.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION XU, DONG Chinese Speaking Graphic Designer

Wednesday, December 13, 2023

Brief Job Description: Leading and managing of all finance functions within the organization. Supporting stakeholders on all business reviews and manage budgets across multiple departments/divisions. Forecast future needs using a long-term planning process to make informed decisions that improve company performance.

Basic Qualification: Masters in Audit holder. With previous work experience of a similar capacity in a related industry. Possesses strong analytical, strategic, communication, numerical proficiency and leadership skills.

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

86.

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

INFOSYS BPM LIMITED - PHILIPPINE BRANCH 19th-23rd Flr., Bgc Corporate Center, 11th Ave. Corner 30th Sts., City Of Taguig

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

N ‘ GUESSAN, GRAHI BOHOUSSOU JULIEN Customer Service Process Specialist 87.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for. Fluent in Chinese Mandarin language is an advantage. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for. Fluent in Chinese Mandarin language is an advantage. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: To work on post contractual legal agreements relating MSA and allied agreements and undergo client training to review and validate executed legal agreements like BDA, MSA, PASA and related amendments such as SLA, DPA of specific French and Portuguese accounts.

Salary Range: Php 500,000 and above

Basic Qualification: With relative work experience. Salary Range: Php 30,000 - Php 59,999

INFOVINE INC. 8th, 9th, 10th/f Aspire Corporate Plaza Bldg., Macapagal Blvd. St., Zone 10, Barangay 76, Pasay City 9/f Y Tower, Moa Complex, Coral Way Drive Cor. Macapagal, Barangay 76, Pasay City DANG BICH NGOC Chinese Speaking Admin Associate 88.

Brief Job Description: Responsible for providing overall administrative support to the team he/ she will be assigned to.

DUONG THI THOA Chinese Speaking Admin Associate 89.

Brief Job Description: Responsible for many clerical tasks to ensure the staff can communicate.

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

A6 Wednesday, December 13, 2023 A8

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION GU, YUANMING Chinese Speaking Admin Associate

90.

Brief Job Description: Responsible for many clerical tasks to ensure the staff can communicate.

LE NHU NGOC Chinese Speaking Admin Associate 91.

Brief Job Description: Responsible for providing overall administrative support to the team he/ she will be assigned to.

SONG, BO Chinese Speaking Admin Associate 92.

Brief Job Description: Responsible for many clerical tasks to ensure the staff can communicate.

CHENG, YEN-LANG Chinese Speaking Business Development Associate 93.

Brief Job Description: Identify and maintain new business opportunities and existing partners. HA, DINH DUONG Chinese Speaking Data Entry Clerk

94.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. LE THI THU Chinese Speaking Data Entry Clerk

95.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. LIM HONG YUEN Chinese Speaking Data Entry Clerk

96.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. NGUYEN VAN THANH Chinese Speaking Data Entry Clerk

97.

Brief Job Description: Gather data and capture the information into databases. WANG, JIALI Chinese Speaking Data Entry Clerk

98.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. BUI THI XUAN MAI Chinese Speaking Graphic Designer

99.

Brief Job Description: Planning concepts by studying relevant information and materials.

LAI THI THOA Chinese Speaking Graphic Designer 100.

Brief Job Description: Planning concepts by studying relevant information and materials. LI, XUAN Chinese Speaking Graphic Designer

101.

Brief Job Description: Prepare rough drafts and present ideas and conceptualize visuals based on requirements. LIU, HUI Chinese Speaking Graphic Designer

102.

Brief Job Description: Prepare rough drafts and present ideas and conceptualize visuals based on requirements. OU, CHEN-HUA Chinese Speaking Graphic Designer

103.

Brief Job Description: Liaising with clients to determine their requirements, timescale, and budget.

PHAM THI PHUONG THAO Chinese Speaking Graphic Designer 104.

Brief Job Description: Planning concepts by studying relevant information and materials.

PHUNG, HUNG Chinese Speaking Graphic Designer 105.

Brief Job Description: Prepare rough drafts and present ideas and conceptualize visuals based on requirements.

TSAI, JIA-HE Chinese Speaking Graphic Designer 106.

Brief Job Description: Liaising with clients to determine their requirements, timescale, and budget.

YAN, WANLI Chinese Speaking Graphic Designer 107.

Brief Job Description: Liaising with clients to determine their requirements, timescale, and budget.

LY KIM YEN Chinese Speaking HR Associate 108.

Brief Job Description: Managing HR records including resumes, applicant logs, and employee forms.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools

No.

BUI THI HANH Chinese Speaking Program Designer 109.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

110.

111.

112.

113.

114.

115.

116.

117.

118.

119.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

120.

121.

HUANG, ZHIYUAN Marketing Staff 122.

Brief Job Description: Producing marketing and promotional materials and assisting in the development of various marketing strategies of the company.

MA, LIMEI Marketing Staff 123.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Ability to concentrate for lengthy periods. Good in verbal communication and written.

No.

126.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

127.

128.

129.

130.

131.

132.

133.

134.

135.

136.

137.

138.

Brief Job Description: Producing marketing and promotional materials and assisting in the development of various marketing strategies of the company.

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

139.

124.

Brief Job Description: This position requires the exercise of discretion in the application of the principles, practices, and techniques related to planning and analysis, design, development and implementation, maintenance, support and management of information technology functions.

Basic Qualification: Fluent in Chinese language (writing and speaking).

140.

HUYNH DUC Chinese Speaking Admin Associate 125.

Brief Job Description: Assist/help customers, and give customers information about products and services.

Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Identify and maintain new business opportunities and existing partners. CHOW KAI JUN Chinese Speaking Data Entry Clerk

141.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. DENG, WEIXI Chinese Speaking Data Entry Clerk

142.

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

NEO INCORPORATED North Tower Centrum Bldg., Aseana Avenue, Entertainment City, Baclaran, City Of Parañaque

Brief Job Description: Identify and maintain new business opportunities and existing partners.

YANG, MIAO Chinese Speaking Business Development Associate

LAN TIAN ZI XUN INC. Natividad Almeda Lopez St Unit 205 2/f Zen Tower, 1111, First District, 1000, Barangay 659, Ermita, City Of Manila DUAN, YEGUO Chinese IT Specialist

Brief Job Description: Identify and maintain new business opportunities and existing partners.

TRINH CAO VY Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate. With solid knowledge of marketing techniques and principles. Fluent in Chinese-Mandarin and English languages.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

TRAN THI THUY TRANG Chinese Speaking Business Development Associate

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

Basic Qualification: College graduate. With solid knowledge of marketing techniques and principles. Fluent in Chinese-Mandarin and English languages.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

TIEU, VINH NGUYEN Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven graphic designing experience. Good in verbal and written communication

Brief Job Description: Identify and maintain new business opportunities and existing partners.

TANG, QIANG Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods. Good in verbal communication and written.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

SUN, RONG Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

QIN, HAIDA Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

PHAM VAN KHONG Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods. Good in verbal communication and written.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

PANGSENG, VORAPORN Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods. Good in verbal communication and written.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

NGUYEN, THI VAN ANH Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods. Good in verbal communication and written.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

NGUYEN THI CHUNG Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods. Good in verbal communication and written.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

NGUYEN KIM TRAN Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Identify and maintain new business opportunities and existing partners.

MOC, QUE VIEN Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. HOANG THI TO TAM Chinese Speaking Business Development Associate

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION DANG, HOANG LINH Chinese Speaking Business Development Associate

JAWOON PHILS. INC. Unit 1505 Richville Corporate Tower, Alabang-zapote Road Mbp Ayala, Alabang, City Of Muntinlupa

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven graphic designing experience. Good in verbal and written communication.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions. ZHANG, YUJI Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven graphic designing experience. Good in verbal and written communication.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions. UN, SOTHEA Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven graphic designing experience. Good in verbal and written communication.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions.

PHAM, THI TRINH Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions.

NGUYEN HO NHAT MINH Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions.

LO SIU KIN Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions.

LEE KUOK JIUN Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Ability to concentrate for lengthy periods. Good in verbal and written communication.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Communicate overall design and approach to a team of programmers. DAU THUY LINH Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions.

CHAI CHANG YONG Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Collaborate with other IT specialists, technicians, etc., to deliver software solutions. BUI, THI HA Chinese Speaking Program Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. NGUYEN VAN AN Chinese Speaking Data Entry Clerk

143.

144.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients.

QUALIFICATION AND SALARY RANGE Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have at least 6 months of work experience. Good verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION PHAN THI ANH DIEM Chinese Speaking Data Entry Clerk

145.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. SAI MOON AUNG Chinese Speaking Data Entry Clerk

146.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. ZHANG, WEIQUAN Chinese Speaking Data Entry Clerk

147.

Brief Job Description: Gathering invoices, statements, reports, personal details, documents and information from employees, other departments and clients. CHU THI GAI Chinese Speaking Graphic Designer

148.

Brief Job Description: Planning concepts by studying relevant information and materials.

TIAN, GUANGQIANG Chinese Speaking Graphic Designer 149.

Brief Job Description: Communicate overall design and approach to a team of programmers. BAN THI HIEN Chinese Speaking Program Designer

150.

151.

152.

153.

154.

155.

156.

157.

158.

Brief Job Description: Communicate overall design and approach to a team of programmers and create flowcharts, diagrams, other models, and programming instructions to guide programming team.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

No.

164.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

HUANG, XIAOGANG Mandarin Technical Support Specialist 165.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

166.

167.

168.

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignment. BARRY Indonesian-language Customer Support Staff

169.

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignment. ERIK RYANTO Indonesian-language Customer Support Staff

170.

171.

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignment. EFFENDI NANDO Senior Indonesian-language Customer Service Support Staff Brief Job Description: Analyze and maintain customer satisfaction reports.

172.

MICHAEL Senior Indonesian-language Customer Service Support Staff Brief Job Description: Analyze and maintain customer satisfaction reports.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Sales leadership, relationship management, business and team development, market analysis and reporting and forecasting.

NGUYEN HA TU UYEN Customer Support Staff - Vietnamese Language

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

XAFVIERO KHOSASI Senior Indonesian-language Customer Service Support Staff 173.

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignment.

159.

Brief Job Description: Customer support and database services.

LI, SIYUAN Assistant Finance Director 174.

ONE BORDERLINE CREATIVES INC. Unit 11-ij3, 11/f Burgundy Corporate Tower, 252 Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati

160.

161.

162.

YANG, TAO Mandarin Marketing Officer Brief Job Description: Organize promotions and events for company clients. LONG, HAN Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

Brief Job Description: Supervise and coordinate the accounting operations in the company.

XIE, JUNYING Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

163.

Brief Job Description: Maintains customer records by updating account info.

175.

Brief Job Description: Represent SLB’s interest with customers and coordinate cross-product service and common business initiatives, define and implement the required resources to deliver efficient shared services in the country or territory.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Mandarin language.

Basic Qualification: Can speak Mandarin language.

Basic Qualification: Can speak Mandarin language. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Can speak Mandarin language.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide worldclass service.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Superior customer service skills. Has experience working in online gaming/ offshore gaming industry. Excellent communication skills in Chinese language, both spoken and written.

NGUYEN THI TRINH Customer Support Specialist Basic Qualification: Preferably have vast knowledge and experience in related field.

178.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide worldclass service.

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

Basic Qualification: College graduate. With previous work experience in a sale related company. Fluent in Arabic and English languages.

Basic Qualification: Superior customer service skills. Has experience working in online gaming/ offshore gaming industry. Excellent communication skills in Chinese language, both spoken and written.

NGUYEN VAN THACH Customer Support Specialist 179.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide worldclass service.

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

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

Basic Qualification: A native speaker of Vietnamese language and fluent in English language (spoken and written). Salary Range: Php 30,000 - Php 59,999

180.

176.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide worldclass service.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A native speaker of Vietnamese language and fluent in English language (spoken and written).

181.

Basic Qualification: A native speaker of Bahasa Indonesia language and fluent in English language (spoken and written). Salary Range: Php 60,000 - Php 89,999 Basic Qualification: A native speaker of Bahasa Indonesia language and fluent in English language (spoken and written). Salary Range: Php 60,000 - Php 89,999 Basic Qualification: A native speaker of Bahasa Indonesia language and fluent in English language (spoken and written). Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Impressive leadership, communication and presentation skills. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Bachelor’s degree in business administrations, management or related field (preferably a master’s degree) postgraduate in sales finance or similar is also acceptable, a good knowledge base of the country / region, and willingness to learn, good people management, sensitivity to good cultural norms, proven and experience in general management, good interpersonal skills at all levels including people management, and must be familiar with computer software programs e.g. word, excel etc.

Basic Qualification: Superior customer service skills. Has experience working in online gaming/ offshore gaming industry. Excellent communication skills in Chinese language, both spoken and written. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Superior customer service skills. Has experience working in online gaming/ offshore gaming industry. Excellent communication skills in Chinese language, both spoken and written.

TRAN, THI ANH Customer Support Specialist

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

SOHU EXPERT INT’L MANAGEMENT SOLUTIONS INC. 10/f Aseana One Bradco Avenue, Aseana Business Park, Tambo, City Of Parañaque

NGUYEN QUYNH TRANG Customer Support Specialist

Basic Qualification: Superior customer service skills. Has experience working in online gaming/ offshore gaming industry. Excellent communication skills in Chinese language, both spoken and written.

TRAN THI GIANG Customer Support Specialist

Basic Qualification: A native speaker of Vietnamese language and fluent in English language (spoken and written).

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

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

PHILIPPINE FULL DEGREE COMMUNICATIONS CORP. 18/f Yuchengco Tower 1, Rcbc Plaza, 6819 Ayala Ave., Bel-air, City Of Makati LIU, DANDAN Mandarin Customer Service

VALYAKALAYIL JAMES DANIEL Country Manager

Basic Qualification: Can speak Mandarin language.

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

NGUYEN THI THANG Customer Support Specialist

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

SCHLUMBERGER ASIA SERVICES LIMITED U-1402, 1403 14f The Pearlbank Centre, 146 Valero St., Bel-air, City Of Makati

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

Basic Qualification: Superior customer service skills. Has experience working in online gaming/ offshore gaming industry. Excellent communication skills in Chinese language, both spoken and written.

Basic Qualification: Can speak Mandarin language.

Brief Job Description: To work with a variety of customers and use your expert relationship-building skills to provide worldclass service.

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

SURESTE PROPERTIES INC. The Executive Offices, Solaire Resort & Casino, 1 Asean Avenue, Entertainment City, Tambo, City Of Parañaque

KOW TUCK WAH 1st Cutter, House Of Zhou 182.

Brief Job Description: Ensuring the seafood cases are well-stocked with fresh, high-quality seafood products for customers.

Basic Qualification: Proven professional experience in the related field. Salary Range: Php 90,000 - Php 149,999

TELFA OUTSOURCING SERVICES INC. 21/f Tower 2 The Enterprise Center, 6766 Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

RUNTO TECHNOLOGY INC. Unit 2601, And 2602 26th Floor One World Place, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg., 133 Quirino Ave., Tambo, City Of Parañaque KELINA Indonesian Customer Service

QUALIFICATION AND SALARY RANGE

RUNNINGMAN CORPORATION 8/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Responsible to translate the processes by which the company prepares construction documents - including shop drawings, structural calculations and quality takeoffs for curtain wall glazing and architectural cladding for projects in Burma. Will also coordinate with our de-sign team to clarify clients request, specifications and designs.

KAROUBI, SEYEDEH SAMAN Vice President For Middle East And Europe Affairs

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ROYALE BUSINESS CLUB INTERNATIONAL INC. Royale Centre 1363-a, Quezon Avenue, West Triangle, Quezon City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Monitoring and maintaining computer systems and networks.

THAE HSU YEE Curtain Wall Draftsman And Translator

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

No.

PROFESSOR TORSTEN CALVI CORPORATION 11/f Telecoms Plaza, 316 Sen. Gil Puyat Ave., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

QUALIFICATION AND SALARY RANGE

177.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With at least 6 months of work experience. Good in verbal communication and written.

Brief Job Description: Maintains customer records by updating account info.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WANG, XIAODAN Mandarin Customer Service

Wednesday, December 13, 2023

TRAN THIEM PHUC Mandarin Customer Service 183.

Brief Job Description: Maintains customer records by updating account info.

Basic Qualification: Can speak Mandarin language. Salary Range: Php 30,000 - Php 59,999

WINARO SUPPORT OPC Unit 1718 High Street South Corporate Plaza Tower 2, Bonifacio Global City, Fort Bonifacio, City Of Taguig

184.

HO, NGUYEN NGOC Artist Brief Job Description: To design and illustrate for all products.

Basic Qualification: Degree in Computer Science, Software or Engineering. Salary Range: Php 30,000 - Php 59,999 *Date Generated: Dec 12, 2023

In the ad material of Notice of Filing of Application for Alien Employment Permits published on December 7, 2023, the name KUAMR, SOORAJ under the company QUANTUM IT SYSTEMS INC., should have been read as KUMAR, SOORAJ and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on December 7, 2023, the name KOUTNY, FLIP under the company AMAZON OPERATION SERVICES PHILIPPINES, INC., should have been read as KOUTNY, FILIP and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on December 7, 2023, the company addresses of REN, TAO, WEI, YUZE, ZHA, DEJUN and ZHENG, CHAO under the company INFOVINE INC., should have been read as 9/F Y TOWER, MOA COMPLEX, CORAL WAY DRIVE COR. MACAPAGAL, BARANGAY 76, PASAY CITY 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.

A10 Wednesday, December 13, 2023

TheWorld BusinessMirror

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

Climate talks enter last day with no agreement in sight on fossil fuels By Jon Gambrell, Jamey Keaten, Sibi Arasu & Seth Borenstein

Associated Press

UBAI, United Arab Emirates—Hopes for finishing a critical climate summit on time were fading early Tuesday as countries were still far apart on key issues, including an agreement on what to do about the fossil fuels that are causing dangerous global warming. The United Nations-led summit known as COP28 was scheduled to end around midday after nearly two weeks of speeches, demonstrations and negotiations. But the climate talks often run long, and Monday’s release of a draft agreement angered countries that

insist on a commitment for rapid phase-out of coal, oil and gas. Instead, the draft called for countries to reduce “consumption and production of fossil fuels, in a just, orderly and equitable manner.” Tina Stege, climate envoy for

the Marshall Islands, ridiculed the document as “a meaningless wish list” that “questions the science” and said it doesn’t address the Paris agreement goal of limiting warming to 1.5 degrees Celsius (2.7 Fahrenheit) to stave off the worst effects of climate change. Earth is on its way to smashing the record for hottest year, endangering human health and leading to ever more costly and deadly extreme weather. “There is no justice in a result from this COP that condemns my country’s future,” said Stege, whose country is one of the many island nations most at risk from rising seas. Europeans also pushed for a stronger document. “It is difficult to come to a result here by midday (Tuesday),” German Foreign Minister Annalena Baerbock said. “This is not a problem for the European delegation. We have time and we are prepared to stay a little longer.” Bangladesh climate envoy Saber Chowdhury said a revised text would be presented Tuesday

morning that takes into account the comments from the many participants. “It’ll be new. To what extent it’s improved remains to be seen,” he said shortly after discussions ended at around 2 a.m. on Tuesday. Final decisions by COPs have to be by consensus. Activists said they feared that potential objections from major oil producers, such as Saudi Arabia, had watered down the text. The head of Opec, the powerful oil cartel, was reported to have written to member countries last week urging them to block any language to phase out or phase down fossil fuels. Saudi Arabia’s Noura Alissa said the deal “must work for all.” “It must be relevant, it must make to sense to accelerate action for every single country in this room, not some over others,” she said. Some developing nations resisted a fossil-fuel phaseout on the grounds that it was unfair for wealthy nations, after centuries of using and profiting from coal, oil and gas, to deny them the same. That included Botswana, whose environment minister, Philda Nani Kereng, said her country is “still, you know, exploiting natural resources for economic development, for livelihood improvement, for job creation and so forth.” It’s important that any agreement is “not going to sort of stop us from developing our people,” she said. China and US, the world’s two biggest sources of planet-warming emissions, both spoke against the draft text. Zhao Yingmin, China’s vice minister for Ecology and Environment, said at the meeting that “the draft fails to address the concerns of developing countries on some key issues” and in particular the idea that greenhouse gas emissions must peak by 2025. United States climate envoy John Kerry said the language on fossil fuels in the text “does not meet the test” of keeping 1.5 alive. “I, like most of you here, refuse to be part of a charade” of not phasing out fossil fuels, Kerry said. “This is a war for survival.” Kerr y’s remarks received a round of applause from the room. But he was confronted as he left by climate activists who called for more action, saying their future is at stake. In the 21-page document, the words oil and natural gas did not appear, and the word coal appeared twice. It also had a single mention of carbon capture, a technology touted by some to reduce emissions although it’s untested at scale. COP28 President Sultan alJaber told a plenary session on Monday that “the time to decide is now.” “ We must still close many gaps. We don’t have time to waste,” he said. On that point, critics agreed. “COP28 is now on the verge of complete failure,” former US Vice President and climate activist Al Gore posted on X. “The world desperately needs to phase out fossil fuels as quickly as possible, but this obsequious draft reads as if Opec dictated it word for word....It is deeply offensive to all who have taken this process seriously.” The Associated Press journalists Olivia Zhang, Malak Harb, Bassam Hatoum and David Keyton contributed to this report.

CHINESE President Xi Jinping, left, and his wife Peng Liyuan, right, wave as they arrive at Noi Bai International airport in Hanoi, Vietnam on Tuesday, December 12, 2023. Chinese leader Xi arrived in Vietnam on Tuesday seeking to further deepen ties with the Southeast Asian nation, weeks after it elevated its diplomatic relations with Western-aligned countries. LUONG THAI LINH/POOL VIA AP

Xi Jinping visits Vietnam weeks after it reinforced ties with US and Japan By Huizhong Wu

The Associated Press

ANGKOK—Chinese leader Xi Jinping arrived in Vietnam on Tuesday seeking to further deepen ties with the Southeast Asian nation, weeks after it elevated its diplomatic relations with Western-aligned countries. In his first visit since 2017, Xi will meet with Communist Party General Secretary Nguyen Phu Trong, President Vo Van Thuong and Prime Minister Pham Minh Chinh, Vietnam’s Foreign Ministry said. “This reflects Beijing’s concerns about Hanoi’s advances with the West,” said Nguyen Khac Giang, a visiting fellow with the ISEAS–Yusof Ishak Institute in Singapore. “Concerns that Vietnam may join an anti-China alliance and gang up against China.” The Chinese leader received a red carpet welcome as Chinh greeted him on the tarmac. Dozens of Chinese and Vietnamese nationals gathered at the airport, waving Chinese and Vietnamese flags to welcome Xi and his wife, Peng Liyuan, who accompanied him on the visit. Xi’s visit marks 15 years of China being a “comprehensive strategic partner” of Vietnam, the highest official designation for a diplomatic relationship. Vietnam plays an increasingly important strategic role in security and the economy in Southeast Asia. Ideologically, Vietnam is closer to Beijing. It is run by a Communist Party with strong ties to China. But in recent months, Vietnam has signaled closer ties with Western countries. In September, US President Joe Biden visited Vietnam to mark the US being elevated to the same diplomatic status as China. Biden asserted that the stronger ties were not about countering China, though US diplomacy across Asia and the Pacific has been focused on improving defense ties with countries to do just that. In November, Japan and Vietnam boosted their economic and security ties, citing a “free and open Indo-Pacific,” with Japan being given the same diplomatic

status as China and the US. Japan has been rapidly developing closer ties with Vietnam and is its third-largest foreign investor. Experts say Vietnam is hedging against its large neighbor and its geographical claims. “You can see that they’re flexible and balancing big powers,” said Nguyen Thanh Trung, a professor of Vietnamese studies at Fulbright University Vietnam. Vietnam is one of several countries to clash with China in the disputed South China Sea, particularly on two archipelagos, the Spratlys and the Paracel Islands. It has faced off with China’s coast guard in the past in the disputed waters. Vietnam usually does not publicize the confrontations. In October, Xi told the Vietnamese president that amid “changing international landscapes” the two nations should continue to develop their “traditional friendship.” The two spoke after attending China’s Belt and Road Forum. Vietnam is likely to sign some infrastructure agreements with Beijing, as it has paid close attention to the development of the Chinese-built high-speed rail in Laos, completed in 2021. “The Vietnamese prime minister wants to focus on more infrastructure,” said Nguyen, the professor. “He thinks it’s key to economic growth.” China has been Vietnam’s largest trading partner for several years, with a bilateral trade turnover of $175.6 billion in 2022. Imports from China, including crucial inputs for Vietnam’s manufacturing sector, make up 67 percent, according to Vietnam customs data cited by Vietnamese state media. However, the trade is at a deficit in China’s favor. China has over $26 billion invested in Vietnam, with more than 4,000 active projects. Xi’s 2017 visit to Vietnam was for an Asia-Pacific economic summit in the coastal city of Danang. AP writer Aniruddha Ghosal in Hanoi, Vietnam contributed to this report.

Missile strikes Norwegian-flagged tanker off Yemen in apparent expansion of rebel attacks By Jon Gambrell

The Associated Press

UBAI, United Arab Emirates—A missile suspected to have been fired by Yemen’s Houthi rebels slammed into a Norwegian-flagged tanker in the Red Sea off the coast of Yemen near a key maritime chokepoint, authorities said Tuesday. The assault on the oil and chemical tanker Strinda expands a campaign by the Iranian-backed rebels targeting ships close to the Bab el-Mandeb Strait into apparently now striking those that have no clear ties to Israel. That potentially imperils cargo and energy shipments coming through the Suez Canal and further widens the international impact of the Israel-Hamas war now raging in the Gaza Strip. The Houthis did not immediately claim responsibility for the attack, though rebel military spokesperson Brig. Gen. Yahya Saree said an important announcement would be coming from them soon. The US military’s Central Command issued

a statement Tuesday saying an anti-ship cruise missile “launched from a Houthicontrolled area of Yemen” hit the Strinda. “There were no US ships in the vicinity at the time of the attack, but the USS Mason responded...and is currently rendering assistance,” Central Command said. The Mason is an Arleigh Burke-class destroyer that has been involved in several of the recent incidents off Yemen. The private intelligence firms Ambrey and Dryad Global had earlier confirmed the attack happened near the crucial Bab elMandeb Strait separating East Africa from the Arabian Peninsula. Geir Belsnes, the CEO of the Strinda’s operator, J. Ludwig Mowinckels Rederi, also confirmed the attack took place. “All crew members are unhurt and safe,” Belsnes said. “The vessel is now proceeding to a safe port.” The Strinda was coming from Malaysia and was bound for the Suez Canal onward to Italy with its cargo of palm oil, Belsnes said. The Associated Press writer Samy Magdy in Cairo contributed to this report.

TheWorld

Wednesday, December 13, 2023 A11 BusinessMirror Zelenskyy will arrive on Capitol Hill to grim mood as Biden’s aid package for Ukraine risks collapse www.businessmirror.com.ph

By Lisa Mascaro & Stephen Groves The Associated Press

ASHINGTON—Ukrainian President Volodymy r Zelensk y y w i l l arrive on Capitol Hill to a darker mood than when he swooped in last winter for a hero’s welcome, as the Russian invasion is grinding into a third year and US funding hangs in balance. Z e le n sk y y ’s v i sit Tuesd ay comes as President Joe Biden’s request for an additional $110 billion US aid package for Ukraine, Israel and other national security needs is at serious risk of collapse in Congress. Republicans are insisting on strict US-Mexico border security changes that Democrats decry as draconian in exchange for the overseas aid. “It is maddening,” said Sen. Chris Coons, D-Del., a close ally of Biden, of the stalemate. “A very bad message to the world, to the Ukrainian people.” T he W hite House said the time was right for Zelenskyy’s tr ip to Washington as Biden pushes lawmakers to approve the aid package before the year-end holidays. But the mood turned grim at the Capitol on the eve of his arrival. Zelenskyy will meet privately with senators and new House Speaker Mike Johnson, then talk with Biden at the White House as the once robust bipartisan support for Ukraine was slipping further out of reach. Ahead of Zelensky y’s highstakes meetings, the White House late Monday pointed to newly declassified intelligence that shows Ukraine has inflicted heavy losses on Russia in recent fighting along the Avdiivka-Novopavlivka axis—including 13,000 casualties and over 220 combat vehicle losses. The Ukrainian holdout in the country’s partly occupied east has been the center of some of the fiercest fighting in recent weeks. US intelligence officials have determined that the Russians think if they can achieve a military deadlock through the winter it will drain Western support for Ukraine and ultimately give Russia the advantage, despite the fact that Russians have sustained heavy losses and have been slowed by persistent shortages of trained personnel, munitions, and equipment. “Russia is determined to press forward with its offensive despite its losses. It is more critical now than ever that we maintain our support for Ukraine so they can continue to hold the line and regain their territory,” said White House National Security Council spokesperson Adrienne Watson. She added that Russian President Vladimir Putin “is clearly watching what happens in Congress— and we need Congress to act this month to support Ukraine in its time of need.” Republicans in Congress, fueled by Johnson’s far-right flank in the House, have taken on an increasingly isolationist stance in US foreign policy, demanding changes to American border and immigration policies in exchange for any funds to battle Putin’s war in Ukraine. Biden has expressed a willingness to engage with the Republicans as migrant crossings have hit record highs along the US-Mexico border, but Democrats in his own party oppose the proposals for expedited deportations and strict asylum standards as a return to Trump-era hostility towards migrants. With talks at a standstill, one chief Republican negotiator, Sen. James Lankford of Oklahoma, said there was nothing Zelenskyy could say during his visit with the

UKRAINIAN President Volodymyr Zelenskyy reacts during his interview with The Associated Press in Kharkiv, Ukraine on November 30, 2023. Zelenskyy is in Washington for meetings at the White House and with Congress, part of a lastminute push by the Biden administration to persuade lawmakers to pass a supplemental funding bill as officials warn that money for Ukraine is running out. AP/EFREM LUKATSKY

senators to sway the outcome. “Hey, pay attention to us, but not your own country? No,” Lankford told reporters. “We’ve got to be able to deal with all these things together.” Z e l e n s k y y, w h o v i s i t e d Washington just months ago in September when the aid package was first being considered, is ma k ing his third tr ip to the Capitol since the war broke out in Febr uar y 2022. His surprise arrival days before Christmas last December was Zelenskyy’s first wartime trip out of Ukraine and he received thunderous applause in Congress. Lawmakers sported the blue-and-yellow colors of Ukraine, and Zelenskyy, delivering a speech that drew on the parallels to World War II as he thanked Americans for their support, presented the country’s flag signed by frontline troops to thenSpeaker Nancy Pelosi, D-Calif. But 2023 brought a new power center of hard-right Republicans, many aligned with Donald Trump, the former president who is now the GOP front-runner in the 2024 race for the White House. New Spea ker Johnson, on the job since October when Republicans ousted their previous leader Kevin McCarthy, has spoken publicly in favor of aiding Ukraine, as has Senate Republican Leader Mitch McConnell. But it’s not certain they can steer an aid package through the House’s right f lank. Republican Rep. Michael McCaul of Texas, the chairman of the House Foreign Affairs Committee, said Zelenskyy has an opportunity to impress on Johnson in their private talk “the moral clarity and why is Ukraine important.” He said Zelenskyy could shake up the stalemate in Congress by reminding Johnson and the seNators, “If we abandon our Nato allies and Ukraine, like we did in Afghanistan, we’re just going to invite more aggression and embolden and empower our adversaries.” Zelenskyy kicked off the quick visit to Washington on Monday, warning in a speech at a defense university that Russia may be fighting in Ukraine but its “real target is freedom” in America and around the world. “If there’s anyone inspired by unresolved issues on Capitol Hill, it’s just Putin and his sick clique,” Zelenskyy told an audience of military leaders and students at the National Defense University on Monday. He noted that on this day 82 years ago the US went to combat in Europe, as then-President Franklin D. Roosevelt signed the declaration of war against Germany. Now, he said, though the US has no troops on the ground in Ukraine, it is supplying critically needed weapons and equipment. Of the new $110 billion national security package, $61.4 billion

would go toward Ukraine—with about half, some $30 billion, going to the Defense Department to replenish weaponry it is supplying to Ukraine, and the other half for humanitarian assistance and to help the Ukrainian government function with emergency responders, public works and other operations. The package includes another nearly $14 billion for Israel as it fights Hamas and $14 billion for US border security. Additional funds would go for national security needs in the Asia-Pacific region. The US has already provided Ukraine $111 billion for its fight against Russia’s 2022 invasion. “Putin still aims to conquer the country of Ukraine and subjugate its people,” Watson said. The W hite House has been more engaged with Congress, with Homeland Security Secretary Alejandro Mayorkas in some discussions, according to a person familiar with the talks and granted anonymity to discuss them. But Republicans said the Democrats did not respond to their latest offer. Border security talks have focused on making it more difficult

for migrants to claim asylum and releasing fewer migrants temporarily into the US while they await proceedings to determine if they can remain more permanently. Republicans have also proposed allow ing the president to shutter parts of the border when crossings reach high numbers, as they have for the past two years. One W hite House idea would expand the ability to conduct expedited deportations, drawing alarm from immigrant advocates. As border talks drag, Biden’s budget director said last week that the US will run out of funding to send weapons and assistance to Ukraine by the end of the year, which would “kneecap” Ukraine on the battlefield. According to the Defense Department, there is about $4.8 billion remaining in presidential drawdown authority, which pulls weapons from existing US stockpiles and sends them quickly to the war front, and about $1.1 billion left in funding to replenish the US military stockpiles. The Associated Press writers Lolita Baldor, Tara Copp and Aamer Madhani contributed to this report.

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Israel, US face growing isolation over Gaza as offensive grinds on with no end in sight By Najib Jobain & Samy Magdy

The Associated Press

AFAH, Gaza Strip—Israel and the United States were increasingly isolated as they faced global calls for a cease-fire in Gaza, including a non-binding vote expected to pass at the United Nations later on Tuesday. Israel has pressed ahead with an offensive against Gaza’s Hamas rulers that it says could go on for weeks or months. The war ignited by Hamas’ Oct. 7 attack into southern Israel has already brought unprecedented death and destruction to the impoverished coastal enclave, with more than 18,000 Palestinians killed, mostly women and minors, and over 80 percent of the population of 2.3 million having fled their homes. Much of northern Gaza has been obliterated, and hundreds of thousands have f led to evershrinking so-called safe zones in the south. The health care system and humanitarian aid operations have collapsed in large parts of Gaza, and aid workers have warned of starvation and the spread of disease among displaced people in overcrowded shelters and tent camps. Strikes overnight and into Tuesday in southern Gaza—in an area where civilians have been told to

seek shelter—killed at least 23 people, according to an Associated Press reporter at a nearby hospital. In northern Gaza, the aid group Doctors Without Borders said a surgeon in the Al-Awda hospital was wounded Monday by a shot from outside the facility, which it says has been under “total siege” by Israeli forces for a week. There was no immediate comment from the military. In a briefing with The Associated Press on Monday, Israeli Defense Minister Yoav Gallant refused to commit to a firm timeline, but signaled that the current phase of heavy ground fighting and airstrikes could stretch on for weeks and that further military activity could continue for months. He said the next phase would b e l o w e r - i nt e n s it y f i g ht i n g against “pockets of resistance” and would require Israeli troops

ISRAELI soldiers take positions near the Gaza Strip border, in southern Israel on Monday, December 11, 2023. The army is battling Palestinian militants across Gaza in the war ignited by Hamas’ October 7 attack into Israel. AP/OHAD ZWIGENBERG

to maintain their freedom of operation. Prime Minister Benjamin Netanyahu has said Israel will maintain security control over Gaza indefinitely. The UN secretary-general and Arab states have rallied much of the international community behind calls for an immediate ceasefire. But the US vetoed those efforts at the UN Security Council last week as it rushed tank munitions to Israel to allow it to maintain the offensive. A non-binding vote on a similar resolution at the General Assembly scheduled for Tuesday would be largely symbolic.

Crushing Hamas seen as ‘tall order’

ISR AEL and its main ally, the US, argue that any cease-fire that leaves Hamas in power, even over a small part of the d e v a s t at e d t e r r itor y, wou ld

mean victor y for the militant group, which has governed Gaza since 2007 and has pledged to destroy Israel. But many experts consider Israel’s aims to be unrealistic, pointing to Hamas’ deep base of support in both Gaza and the occupied West Bank, where it is seen by many Palestinians as resisting Israel’s decades-old military rule. “ D e st ro y i n g H a m a s , e ve n its military capability—Israeli leaders’ chief war aim—will be a tall order without decimating what remains of Gaza,” said the Crisis Group, an international think tank, in a report over the weekend that also called for an immediate cease-fire. Gallant said Israel has already inflicted heavy damage on Hamas, killing half the group’s battalion commanders and destroying many tunnels, command centers and other facilities.

Palestinians hope UN General Assembly will show wide support for Gaza cease-fire By Edith m. Lederer The Associated Press

NITED NATIONS—The Palestinians are hoping that a vote Tuesday in the UN General Assembly on a nonbinding resolution demanding an immediate humanitarian cease-fire will demonstrate widespread global support for ending the Israel-Hamas war, now in its third month. After the United States vetoed a resolution in the Security Council on Friday demanding a humanitarian cease-fire, Arab and Islamic nations called for an emergency session of the 193-member General Assembly on Tuesday afternoon to vote on a resolution making the same demand. Unlike Security Council resolutions, General Assembly resolutions are not legally binding. But as UN spokesperson Stephane Dujarric said Monday, the assembly’s messages “are also very important” and reflect world opinion. Riyad Mansour, the Palestinian ambassador to the United Nations, told The Associated Press on Sunday that the defeated resolution in the Security Council was cosponsored by 103 countries, and he is hoping for more cosponsors and a high vote for the General Assembly resolution on Tuesday. In the first UN response to the Gaza war, the General Assembly on October 27 called for a “humanitarian truce” in Gaza leading to a cessation of hostilities. The vote was 120-14 with 45 abstentions.

THE United Nations flag flies on a stormy day at the UN during the United Nations General Assembly on September 22, 2022. Palestinians are hoping that a vote on Tuesday, December 12, 2023, in the UN General Assembly on a nonbinding resolution demanding an immediate humanitarian cease-fire will demonstrate widespread global support for ending the IsraelHamas war, now in its third month. AP/TED SHAFFREY

After four failures, the Security Council on November 15 adopted its first resolution after the outbreak of the Israel-Hamas war, calling for “urgent and extended humanitarian pauses” in Gaza to address the escalating crisis for Palestinian civilians during Israel’s aerial and ground attacks. That vote in the 15-member council was 12-0 with the United States, United Kingdom and Russia abstaining. The US and UK said they abstained because the resolution did not condemn Hamas’ October 7 attack on Israel in which about 1,200 people were killed and 240 abducted, and Russia because of its failure to demand a humanitarian cease-fire,

which Israel and the United States oppose. As the death toll in Gaza has mounted during Israel’s campaign to obliterate Hamas, calls for a cease-fire have escalated, and on Friday the US was isolated in its support for Israel in the Security Council, where the vote was 13-1 with the United Kingdom abstaining. The Security Council meeting and vote last Friday were a response to a letter from UN Secretary-General Antonio Guterres, who invoked Article 99 of the UN Charter, which enables a UN chief to raise threats he sees to international peace and security.

He warned of a “humanitarian catastrophe” in Gaza and urged the council to demand a humanitarian cease-fire. Guterres said he raised Article 99—which hadn’t been used at the UN since 1971—because “there is a high risk of the total collapse of the humanitarian support system in Gaza.” The UN anticipates this would result in “a complete breakdown of public order and increased pressure for mass displacement into Egypt,” he warned. Gaza is at “a breaking point” and desperate people are at serious risk of starvation, Guterres said, stressing that Hamas’ brutality against Israelis on October 7 “can never justify the collective punishment of the Palestinian people.” Like the Security Council resolution, the draft General Assembly resolution makes no mention of Hamas or the October 7 attacks on Israel. It expresses “grave concern over the catastrophic humanitarian situation in the Gaza Strip and the suffering of the Palestinian civilian population” and says Palestinian and Israeli people must be protected in accordance with international humanitarian law. In addition to an immediate humanitarian cease-fire, the draft demands that all parties comply with international humanitarian law, “notably with regard to the protection of civilians,” and calls for “the immediate and unconditional release of all hostages, as well as ensuring humanitarian access.”

The Israeli military said Tuesday that its aircraft targeted rocket launching posts throughout Gaza and that ground troops has found 250 rockets, mortar shells and rocket-propelled grenade launchers in a raid. Israeli officials have said some 7,000 Hamas militants—roughly one-quarter of the group’s estimated fighting force—have been killed and that 500 militants have been detained in Gaza the past month, claims that could not be verified. At least 104 Israeli soldiers have been killed in the Gaza ground offensive, the army says. Gallant said that in northern Gaza, Hamas has been reduced to “islands of resistance,” while in the south, where Israel expanded ground operations earlier this month, “they are still organized militarily.” Hamas says it still has thousands of reserve fighters—anot her u nver if ied c l a im—a nd on Monday it fired a barrage of rockets that wounded one person and damaged cars and buildings in a Tel Aviv suburb. The attack set off sirens in the city, where Gallant’s office and the military headquarters are located.

Civilian plight worsens

ISRAEL launched the campaign after Hamas broke through its defenses and militants streamed into the south on October 7, killing some 1,200 people and seizing about 240 others. More than 100 hostages, mostly women and children, were freed during a ceasefire last month in exchange for Israel’s release of 240 Palestinian prisoners.

Two months of airstrikes, coupled with a fierce ground invasion, have resulted in the deaths of over 18,000 Palestinians, according to health officials in the Hamas-run territory. They do not give a breakdown of civilians and combatants but say roughly two-thirds of the dead are women and minors. The actual toll is likely higher, as thousands are missing and feared dead under the rubble, and efforts to maintain the count have been hindered by the collapse of the health sector in the north. Israel blames civilian casualties on Hamas, saying it positions fighters, tunnels and rocket launchers in dense urban areas, using civilians as human shields. With Israel allowing little aid into Gaza and the UN largely unable to distribute it amid the fighting, Palestinians face severe shortages of food, water and other basic goods. Israel has urged people to f lee to what it says are safe areas in the south, and fighting in and around the southern city of Khan You n i s — Ga z a’s second l a rgest—has pushed tens of thousands toward the city of Rafah and other areas along the border with Egypt. But Israel has also continued to strike what it says are mi litant targets in so -ca l led safe zones. Most of the 23 dead brought into the R afah hospital overnight were from three families, hospital records show. Magdy reported from Cairo. Associated Press writer Tia Goldenberg in Tel Aviv, Israel contributed.

Russia targets Kyiv with missiles as fears increase of attacks on energy infrastructure By Srdjan Nedeljkovic & Yehor Konovalov The Associated Press

YIV, Ukraine—A Russian missile attack on Ukraine’s capital early Monday destroyed several homes and left more than 100 households without electricity. The predawn attack on Kyiv came amid warnings that Russia will step up its attacks on the country’s energy infrastructure as winter sets in with freezing temperatures. A series of loud explosions followed by air raid sirens broke the silence in Kyiv just after 4 a.m. as the city was under its nightly curfew. Ukraine’s military said its air defenses intercepted all eight ballistic missiles. However, falling debris from rockets damaged homes on the ground, leaving one person wounded and three others suffering severe shock, officials said. AP journalists witnessed some of the destruction in the district of Bortnychi on the southeastern outskirts of Kyiv. A home under construction was ripped apart and nearby buildings were par tially damaged, with gaping holes in the roofs and walls. Victor Demchenko, the owner of the destroyed house, was clearing debris from his property, next to a crater about five meters (16 feet) deep in the backyard. Demchenko said that he was in another part of the city when he heard the explosions. “Then the neighbor called ... and said all that is left of the house is a crater,” he said. “I didn’t believe him, so I took the car and drove here. Well, you can see it yourself, there is nothing to be found here.” At another home about two kilometers (a mile) away, Nadia Matvienko was lucky to escape uninjured when her home was damaged in the attack. “It’s like I felt something. I couldn’t sleep all night, was turning in my bed back and forth. Then ‘bang, bang,’ we rushed to the hallway. Next thing we heard is the house being torn apart,” she said, wiping away tears as she sat in her home with shattered

glass and damaged furniture strewn across the floor. The attack also left some 120 households in the city without electricity, Ukraine’s Ministry of Energy said. Ukrainian officials have warned that Russia will target energy infrastructure to cause power outages and blackouts like it did last winter. In an intelligence update over the weekend, the U.K. Defense Ministry noted that Russia last week used its heavy bomber fleet for the first time since September. It predicted the start of a more concerted campaign aimed at degrading Ukraine’s energy infrastructure as winter sets in. In other developments: n The Ukrainian air force said it intercepted 18 Russian drones on Monday, mostly over the southern Mykolaiv region. n A bottleneck for trucks at the Ukrainian-Polish border seemed to ease, at least temporarily, as Ukraine’s minister of infrastructure announced transit had been restored after being held up for more than a month by Polish truckers protesting against what they called unfair competition from Ukrainian counterparts. Waldemar Jaszczun, an organizer of the protest, confirmed to the The Associated Press that the blockade had been lifted on the road leading to the Dorohusk-Yahodyn border crossing after a decision by the local mayor. Jaszczur said that the protesters will appeal the decision. n Ukrainian President Volodymyr Zelenskyy traveled to Washington on Monday from Argentina where he had attended the swearing-in of the country’s new president, Javier Milei. Zelenskyy was set to meet with US President Joe Biden on Tuesday. Biden has asked Congress for a $110 billion ($61.4 billion) package of wartime funding for Ukraine and Israel, along with other national security priorities. But the request is caught up in a debate over US immigration policy and border security. Associated Press writers Karl Ritter and Hanna Arhirova in Kyiv, and Monika Scislowska in Warsaw, Poland, contributed to this report.

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Sen. Tulfo tackles plight of overseas Filipinos with Singapore envoy By Butch Fernandez @butchfBM

SENATOR Raffy Tulfo and Singaporean Ambassador Constance See discussed the plight of Overseas Filipino workers (OFWs) as Singapore’s envoy paid a courtesy call at the Senate last Monday. The Singaporean Ambassador to the Philippines Constance sought to meet Senator Tulfo, enabling them to discuss “the plight of OFWs in Singapore,” with See praising Filipino workers’ diligence. She also thanked Tulfo for the great contribution of Filipino migrant workers to their country’s economy. “It was visibly notable that Tulfo was happy” upon learning that there is a Labor Management Framework implemented in Singapore where one of their labor officers regularly visits the migrant workers to check on their condition and ensure that they are not abused by their employers. Tulfo was also visibly elated when See said that they have a law in Singapore wherein anyone who mistreats or violates the human rights of OFWs and other migrant workers there will receive a punishment that is one and half times more than regular crime. Aside from this, See also mentioned that it is required under their law for employers to undergo seminars and training before hiring migrant workers. This is something that Tulfo has been pushing for a long time and he is hopeful that it can also be implemented in other places like the Middle East where there are many Pinoy workers. Tulfo emphasized that Singapore can be considered a model country for other countries to emulate. He added, if such laws and policies are implemented in Singapore, it is not impossible to implement them in other places where there are OFWs, such as countries in the Middle East.

PHL SECURES $2.1-B LOAN FROM ADB FOR BATAAN-CAVITE BRIDGE Continued from A16 These projects will expand and transform the transport network in the metropolis, improve regional connectivity, and offer Filipinos access to more job opportunities,” Morris said.

Loans for other projects

MEANWHILE, with the latest loan approval, the ADB Board has approved a total of $2.75 billion worth of loans for the Philippines in December 2023. Apart from the BCIB, the amount includes the $450-million loan for the country’s Universal Healthcare program and $200 million for the Infrastructure Preparation and Innovation Facility (IPIF). In the first week of December, the ADB announced that it will also program $10 billion in financing for climate-related projects. However, the projects under this financing scheme have yet to be identified and will still go through ADB Board approval. In July 2023, ADB released a business guide for its Flexible Loan Product covering the loans it extends to its developing member countries (DMCs). Further, the document noted that the Philippines together with India, Indonesia, andViet Nam are grouped in C1 category which means it is no longer eligible for concession loan assistance. The Flexible Loan Product (FLP), ADB said, is a market-based loan product based on specified standard 6-month floating reference rates. It also includes an effective contractual spread and a maturity premium, where applicable, that are fixed over the life of the loan. Borrowers like the Philippines have the freedom to choose to denominate their FLPs in euro, Japanese yen, United States dollar, or in a currency in which ADB can efficiently intermediate. In terms of interest rates, ADB loans can be drawn on a floating rate or on a fixed-rate basis. In fixed-rate loans, the rate fixing can be done at disbursement, anytime after disbursement, or through a Specified Rate-Fixing Schedule. In a floating-rate loan, the lending rate is reset every 6 months on each interest payment date. The lending rate is the reference rate plus an effective contractual spread, a maturity premium (where applicable), and a rebate/surcharge on the funding cost margin. Borrowers, ADB said, may opt to automatically implement a series of interest rate fixings either by period (i.e., regular time intervals as specified by the borrower) or by amount (i.e., upon reaching certain levels of disbursements as specified by the borrower).

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Wednesday, December 13, 2023 A13

‘Creeping invasion’: House probes complicity of certain Chinese nationals in drugs, land deals By Jovee Marie N. Dela Cruz

issued IDs, and registering businesses with the SEC, Department of Trade and Industry, and local government units using paid Filipino dummies. The House dangerous drugs panel is currently investigating, in the aid of legislation, the seizure of a P3.6 billion shabu shipment in Pampanga that came from Thailand, passed through the Subic Freeport, was consigned, and was supposed to be delivered to a non-existent name and place in Binondo, Manila, but was re-routed to a warehouse owned by Willy Ong in Mexico town. Former Mexico City Mayor Teddy Tumang, who had been cited for

contempt and detained at the House detention facility along with some of his subordinates are currently the subject of scrutiny by members of the House panel for their alleged complicity in the illegal activities of Willy Ong. In a follow-up hearing next month, the panel has summoned officials f rom the SEC , the A nti-Money Laundering Council, and the Bureau of Internal Revenue to determine what Ong’s Empire 999 business firm has been engaged in, the real identity of his business partners, the taxes they paid to the local and national governments, and where they sourced their investment money.

BI to launch ‘Project Shield’ vs registered sex offenders

On the other hand, Guerrero is a RSO in the US due to his record of conviction as a child rapist by a Texas court. Guerrero was found guilty of violating Section 22 of the state’s laws, which penalizes the act of sexual assault of a child who is 17 years old and below. “We had to remove them out immediately after they arrived at the airport. They are undesirable aliens who pose a very serious threat to our children,” Tansingco said.

@joveemarie

THE chairman of the House Committee on Dangerous Drugs on Tuesday called on the government, particularly intelligence and law enforcement agencies, to investigate and halt the reported activities of certain Chinese nationals engaged in what he describes as a “creeping invasion” using drug or laundered money in land and property acquisition in the country. Surigao del Norte 2nd District Rep. Ace Barbers issued the statement followingrevelationsduringacommittee hearing disclosing that the Philippine

By Joel R. San Juan @jrsanjuan1573

THE Bureau of Immigration (BI) on Tuesday said it would enhance its collaboration with other concerned government agencies to intensify efforts to prevent the entry of registered sex offenders (RSOs) in the country. BIspokespersonDanaSandovalalso said the agency is set to launch “Project Shield” that seeks to establish closer coordination with other countries on the matter of data sharing on RSOs. Sandoval noted that other countries have registries of convicted sex offenders unlike in the Philippines. Project Shield, she said, would serve as reporting mechanism on sex offenders who are already here or attempting to enter the country. “We would immediately put it in our system. If they are already in the Philippines then they would be a priority to be arrested by our Fugitive Search Unit,” Sandoval said. “There might be a need to focus on efforts to stop, prevent these RSOs and collaborate with other government agencies,” she added. BI Commissioner Nor man Tansingco noted that around 155 RSOs had attempted to enter the country from January to November of this year but were intercepted by BI officers.

Drug Enforcement Agency (PDEA), National Bureau of Investigation (NBI), and Philippine National Police (PNP) were facing challenges in identifying a purported Filipino-Chinese national named Willy Ong. Ong is believed to be linked to a shipment of 560 kilos of shabu valued at P3.6 billion seized in Mexico, Pampanga, last September. According to Barbers, documents indicate that Willy Ong, operating under the company Empire 999 registered with the Securities and Exchange Commission (SEC), has acquired a gasoline station and more than four hectares of land in Mexico town, allegedly using Filipino dummies.

Tansingco said through Project Shield, the BI would be coordinating with counterparts from other countries in establishing a database of RSOs from different countries and those already here in the country. Through the project, the BI hopes to get prior information about RSOs bound to the Philippines so they can be intercepted. At present, the Philippine government is only informed about RSOs when they have already arrived in the country. In a related development, the BI announced that it has barred two American pedophiles from entering the country. The two were identified as Keith Michael Lacek 63, who was intercepted last December 5, and Peter Maehler de Leon Guerrero, 54, who was turned away on December 2. The two have criminal records for sexually abusing minors here and in the US. Tansingco said the two passengers were intercepted separately upon arriving at the Ninoy Aquino International Airport (Naia). Both of them arrived at the Naia Terminal 1 aboard Air China and Eva Air flights from Taipei. Lacek was excluded after his name prompted a hit in the bureau’s

House gives green light to priority measures of Ledac Continued from A16 A water trust fund will be established for water development, water sanitation, and wastewater treatment and management, as well as water sustainability programs and projects.

Cooperative Code

ANOTHER piece of Ledac priority legislation, HB 9673, or the proposed Philippine Cooperative Code of 2023, hurdled the third and final reading. The proposed amendments prioritize the agriculture sector, acknowledging its significance in the Philippine economy. Chapter 20 is introduced to specifically cater to the unique needs of agriculture cooperatives. This inclusion ensures that the provisions of the Cooperative Code align with the intricacies and challenges faced by cooperatives engaged in agricultural activities. By tailoring regulations to the current situations within the agriculture sector, the amendments aim to foster growth and sustainability. To address concerns within the cooperative administration and operational procedures, targeted amendments are proposed in several chapters. Chapter 2, focusing on the mandatory personnel of the cooperative, is refined to better meet the demands of the sector. Additionally, amendments in Chapter 8 deal with the qualification of membership, termination, and the crucial aspect of the refund of interest. By refining these sections, the amendments aim to streamline processes and ensure smoother operations for cooperatives. Recognizing the strength of unity, the proposed amendments seek to grant more participatory powers to the cooperative sector through its federations and unions. This is particularly evident in the proposed amendments to Chapter 6, which deals with the Federation of Cooperatives. The changes focus on enhancing the organization and

registration procedures, providing federations and unions with a more influential role in shaping cooperative governance. This inclusivity aims to better address the training needs of primary cooperatives and advocate for the principles of cooperativism effectively. In a move towards global cooperation, the proposed amendments suggest allowing investments from foreign cooperatives. However, this would be subject to the rules and regulations set forth by the Bangko Sentral ng Pilipinas (BSP) and compliance with the Anti-Money Laundering Act. This strategic opening to foreign partnerships aims to broaden the cooperative sector’s horizons, fostering collaboration and resource sharing on an international scale.

Auditing code

THE House of Representatives has also given the green light to HB 9674, or the Revised Government Auditing Act. This legislative milestone aims to revamp the 45-year-old Presidential Decree No. 1445, aligning it with contemporary international accounting and auditing standards. The bill recognizes the need to embrace technological advancements. It advocates for the adoption of international accounting and audit standards while leveraging emerging technologies and innovative solutions in audit approaches and processes. This shift towards digitalization aims to enhance efficiency and accuracy in the auditing process. Another critical objective is to fortify the independence and effectiveness of the Commission on Audit (COA). This includes a comprehensive reorganization of the COA’s structure and the delineation of powers and functions within the organization. The legislation is designed to safeguard the financial resources of the country and recover potential pecuniary losses incurred by the government.

“Ong, based on documents we have on hand, has an UMID ID card and a drivers’ license issued by the Land Transportation Office and used an address in Nueva Ecija. But the NBI and the PNP, despite weeks of search, could not locate him at his given address,” Barbers said. The Unified Multi-purpose ID (UMID) card is a government-issued identification document in the Philippines, consolidating information from four government services. Barbers expressed concern about reports suggesting a land-buying spree by Chinese in various locations, utilizing fake credentials, obtaining government-

derogatory base indicating that he was previously banned from entering the country for his involvement in sex tourism. Based on the records, Lacek was placed on the BI’s blacklist in June 2020 after the agency received information from the Office of Cybercrime of the Department of Justice that the foreigner was reportedly

involved in the online enticement and sexual exploitation of children in travel and tourism. Lacek allegedly enticed a Filipina to produce and send indecent photographs of children and to engage in sexual activity with a young minor in exchange for money.

A14 Wednesday, December 13, 2023 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Higher farmgate sugar prices to help farmers

rior to 2019, the government had intervened in the rice market via the National Food Authority (NFA). As the agency’s primary mandate was to ensure the stable supply and prices of the staple, the NFA bought rice even at high prices and sold it at a fixed rate. The goal was to discourage unscrupulous traders from taking advantage of certain events, like typhoons, which could make products like rice more expensive.

The “buy high, sell low” policy of the NFA, however, caused the agency’s debts to balloon. By the time it stopped intervening in the domestic rice market, the agency owed financial institutions some P160 billion, according to the Department of Finance. RA 11203 mandated the NFA to stop selling rice in the local market and focus instead on buffer stocking by purchasing the output of Filipino farmers. The same scheme that the NFA abandoned is now under consideration by the Department of Agriculture (DA) in its bid to prop up the farmgate prices of sugar. Under the buy-and-sell scheme that the agency is keen on implementing, government funds will be used to buy sugar from farmers at higher farmgate prices and this will be sold to consumers at lower prevailing market prices. (See, “DA keen on scheme that will boost farmgate prices of sugar,” December 11, 2023, BusinessMirror). The plan was conceptualized in response to the clamor of sugar planters for “government intervention” amid the decline in the farmgate prices of the sweetener. For one, the United Federation of Sugar Producers (Unifed) said the prevailing farmgate price of raw sugar is no longer attractive for planters. The group said current sugar prices fell by as much as 22 percent compared to levels seen a year ago. Despite the decline in the farmgate prices of sugar, retail prices, particularly in urban areas, remain elevated. In Metro Manila, data from the Sugar Regulatory Authority as of December 1 showed that average retail prices of refined sugar sold in wet markets and groceries settled at P89.77 per kilo and P99.43 per kilo, respectively. Unifed lamented that these high prices do not benefit planters. If the scheme being proposed by the DA pushes through, it would do well for those responsible for implementing it to make judicious use of government funds. They must see to it that the program would truly benefit small-scale planters who have been badly affected by the spike in the cost of inputs. Government resources are limited as it is, given the record debt it has already incurred, so each peso that will be allotted for this buy-and-sell scheme must be put to good use. While this buy-and-sell scheme could provide some relief, government must see to it that it is also putting in place much-needed reforms to make sugarcane production more efficient. The high cost of inputs, particularly fertilizer, is discouraging planters from producing food. And this burden is exacerbated by the lack of necessary infrastructure, such as farm-to-market roads, and access to capital. Since 2005

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Europe knows that climate action is vital to global security By Josep Borrell & Wopke Hoekstra

RUSSELS—“Present trends are racing our planet down a deadend three-degree temperature rise,” United Nations SecretaryGeneral António Guterres recently warned. He is right. Unless we act decisively—beginning at the United Nations Climate Change Conference (COP28) in Dubai—the threat that climate change poses to humanity will become nothing short of existential.

Already, climate change is a major risk multiplier for conflict and instability. Extreme weather events like floods and heatwaves have led to the forcible displacement of more than 20 million people each year since 2008. By 2050, more than one billion people may have insufficient access to water, and more than 200 million may be forced to migrate. Water scarcity and food shortages are fueling violent conflicts in the Sahel, the Horn of Africa, and other parts of the world. Of the 20 countries that are most vulnerable to climate change, 12 are mired in conflicts. Authoritarian countries are taking advantage of the turmoil, attempting to gain influence over fragile governments and secure access to raw materials. Unless our mitigation and adaptation efforts are equal to the climate crisis, these trends will accelerate and spread,

with truly catastrophic results. The European Union is doing its part to avoid such an outcome. With the European Green Deal, we are aiming, by 2030, to reduce our greenhouse-gas emissions by at least 55 percent, ensure that more than 42.5 percent of our energy comes from renewable sources, and increase energy efficiency by at least 11.7 percent. We strive to become climate-neutral by 2050. Central to our strategy for achieving these goals is putting a price on carbon dioxide emissions. But imposing a carbon price only on EU production risks simply pushing carbon-intensive activities beyond our borders. Such “carbon leakage” would mean losing jobs in the EU without achieving any reduction in global emissions. That is why we implemented the Carbon Border Adjustment Mecha-

nism (CBAM), which ensures that the most carbon-intensive imports are subject to a carbon price in line with that put on European goods. This is not protectionism. Rather, it is a necessary step to ensure that our ambitious decarbonization measures are helpful for the global climate. We also want to take responsibility for the greenhouse-gas emissions caused outside the EU by our consumption of imported goods, which is why we are “greening” our trade policy. In particular, we want to ensure that the products we import no longer contribute to deforestation—one of the greatest threats to the climate and biodiversity. We know that the requirements stem-

ming from this EU law are causing tensions with some of our partners. We are ready to support them in implementing these measures and to address together the challenge of deforestation. The green transition will shake up the global balance of power. For the EU, this process implies both benefits and risks. On one hand, it will reduce our dependence on fossil fuels —a dependence that, as Russia’s war against Ukraine has demonstrated, carries high political and economic costs. On the other hand, it could create new dependencies, such as on producers of critical raw materials. Avoiding that outcome—and bolstering our security—requires us to ensure diversity of supply. To that end, we must strengthen our ties with Africa, Latin America, and South Asia, developing tailor-made partnerships that allow for valueaddition and job creation in our partner countries. While Europe bears an important historical responsibility for climate change, we account for just 7.5 percent of global emissions today, meaning that the actions we take at home can have only a limited impact on the world’s climate. The only solution to See “Europe,” A15

Philippine contributions to human rights By Jesus Enrique G. Garcia II

his year’s celebration of Human Rights Day on December 10 is special because it marks the 75th anniversary of the Universal Declaration of Human Rights (UDHR).

The Philippines played an essential role in the drafting of the Universal Declaration—one of the most profound and influential expressions of human values and rights ever produced. Thus, it is the world’s most translated document. The late General Carlos P. Romulo was a member of the first United Nations (UN) Commission on Human Rights that prepared the UDHR for adoption by UN member states in 1948. Article 1 of the Declaration, which is based on General Romulo’s formulation, boldly states: “All human beings are born free and equal in dignity and rights.” Philippine contributions permeate not only the UDHR, but the entire international human rights framework. This is something that all Filipinos should be proud of and never forget. We helped shape global human rights norms and standards.

During the early days of the UN, the Philippines staunchly advocated for the right to self-determination of peoples still under the yoke of colonialism. Later, we firmly opposed apartheid and oppression. Following the adoption of the UDHR, we supported the codification of human rights into binding international instruments, such as the International Covenants on Economic, Social and Cultural Rights and Civil and Political Rights. We injected our national values and advocacies into the global consciousness to enhance protection of our peoples and interests. In the field of women’s rights, the late Senator Leticia Shahani-Ramos and Ambassador Rosario G. Manalo were the driving forces behind the Convention on the Elimination of Discrimination Against Women (CEDAW). Amb. Manalo served as

The late General Carlos P. Romulo was a member of the first United Nations (UN) Commission on Human Rights that prepared the UDHR for adoption by UN member states in 1948. Article 1 of the Declaration, which is based on General Romulo’s formulation, boldly states: “All human beings are born free and equal in dignity and rights.”

Chair of the CEDAW Committee and remains an active member. Being a nation that highly values and promotes the welfare of its migrants, we took the lead in developing the International Convention on the Protection of the Rights of All Migrant Workers and Members of their Families. Ambassador Jose Brillantes served as Chair of the Migrant Workers’ Committee. Our national human rights institutions and laws are regarded as models in the region and beyond. Founded under our Constitution, the Commission on Human Rights is an independent human rights moni-

tor, fully compliant with international standards. Our Indigenous Peoples’ Rights Acts was used as the template for the UN Declaration on the Rights of Indigenous Peoples. In Asean, we have been the leading voice in the Asean Intergovernmental Commission on Human Rights (AICHR). We also continue to be ahead of the curve with respect to emerging human rights issues. Over a decade ago, the Philippines was among the first to raise alarm bells about the detrimental impacts of climate change on human rights in the Human Rights Council. This link has now become widely acknowledged. At the UN General Assembly, President Ferdinand Marcos Jr. and Foreign Affairs Secretary Enrique A. Manalo called for rules for the responsible use of emerging technologies, such as artificial intelligence and autonomous weapons, so that they do not compromise human dignity and fundamental human rights. We also engage in discussions on See “Philippine,” A15

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Wednesday, December 13, 2023 A15

Myanmar faces economic The Federation of Philippine Industries stagnation on conflict, decries Meralco franchise split call World Bank says By Khine Lin Kyaw

Dr. Jesus Lim Arranza

yanmar faces economic stagnation as rising armed conflict disrupts trade and fans inflation, while a dollar shortage constrains imports, the World Bank said.

MAKE SENSE

Even if the conflict does not escalate further, growth is expected to remain subdued through 2025 given a slowdown in agriculture, manufacturing, and trade, the World Bank said.

he Federation of Philippine Industries came to the defense of one of its members last week by issuing a statement decrying attempts by some lawmakers to split the Meralco franchise area. I see this move as counterproductive, so I called on all those attempting to disparage Meralco to stop their campaign, which definitely sends a wrong signal to the business community and drive foreign investors away.

Gross domestic product growth is forecast to weaken to 1 percent in the fiscal year ending in March from 4 percent, the World Bank said in a report on Tuesday. Inflation will remain elevated at 20.1 percent, and financing the current-account deficit appears to remain challenging, the lender said. Armed conflict between ethnic groups and the military, which has run the country since a coup in 2021, has escalated since October, displacing half a million people. Operations at several border crossings with Thailand and India, which are key trade partners, have been disrupted, the World Bank said in its latest country-specific economic report on Myanmar. “The economic situation has deteriorated, and uncertainty about the future is increasing,” Mariam Sherman, World Bank country director for Myanmar, Cambodia, and Laos, said in a statement accompanying the report. Even if the conflict does not escalate further, growth is expected to remain subdued through 2025

Europe . . .

continued from A14

climate change is a global one. At a time when multilateralism is under growing pressure, agreement on how to meet the targets set at COP21 in Paris would not only ensure a safe future for our children, but also would show that multilateral institutions can still deliver. COP28 must shift the world into higher gear. The EU is committed to pushing for the phase-out of unabated fossil fuels and all fossil-fuel subsidies, the doubling of energyefficiency measures, and the tripling of renewable-energy capacity worldwide. But to make this happen, we need the buy-in of the other industrialized economies, as well as China, which, despite its tremendous progress in renewables, still burns more coal than the rest of the world combined. The green transition will succeed only if it is just and benefits all. The most climate-vulnerable countries have contributed little to climate change but risk bearing the brunt of it. While they must be part of the global race to net-zero emissions, they need and deserve greater support when it comes to climate adaptation and the green-energy transition. The EU is prepared to deliver such support—and help our partners avoid repeating our past mistakes. The EU, its member states, and the European financial institutions

Philippine . . .

continued from A14

how to advance the rights of older persons, as numerous societies are aging throughout the world. We work on these issues with civil society and international partners in an open and constructive manner, based on the rule of law, due process, peaceful dialogue, and national sovereignty. And while we continue to face human rights challenges, like all countries, we continue with our active engagement and resolve to further bolster respect for human rights at home and abroad. The UN Joint Program on Human Rights, in its last year, has been an innovative means to support national government policies and programs with the cooperation of the UN and its relevant specialized agencies and bilateral partners.

given a slowdown in agriculture, manufacturing, and trade, the World Bank said.

Currency pressure

The kyat has depreciated about 14 percent against the dollar as of early December from its level in May, the World Bank said. While the government has eased its rules on foreign exchange this month, the full implication remains unclear with a lack of clarity around how these measures will be implemented in practice, it said. Multiple exchange rates have emerged as Myanmar’s dollar shortage deepens, and the gap between the parallel market rate and the official reference rate has widened to around 60 percent to 70 percent, the World Bank said. Bloomberg are already the largest contributors of public climate finance to developing economies, having delivered €28.5 billion ($30 billion) in 2022. Moreover, the developed economies are finally on track to meet the goal of mobilizing $100 billion annually for climate adaptation and mitigation in the developing world. But we must think beyond this pledge, which ends in 2025. It is time to align both public and private financial flows with the goals laid out in the Paris climate agreement, and take climate finance from billions to trillions. At the same time, the international financial institutions and multilateral development banks need to be reformed, so that they can do more to support the delivery of global public goods. And the new Loss and Damage Fund needs the appropriate financial firepower. The first substantial pledges are encouraging. Here, too, China will be an indispensable partner. In an increasingly multipolar world, shaped by the return of great-power politics, concerted international cooperation might seem far-fetched. But in the face of such a global existential challenge, we must succeed. Josep Borrell, High Representative of the European Union for Foreign Affairs and Security Policy, is Vice President of the European Commission for a Stronger Europe in the World. Wopke Hoekstra is European Commissioner for Climate Action Copyright: Project Syndicate, 2023. www. project-syndicate.org

This week, the Department of Foreign Affairs is partnering with the University of the Philippines and Philippine Women’s University in holding symposia with the academe on human rights with special guests, Prof. Bertrand Ramcharan, former Acting UN High Commissioner for Human Rights, and Mr. Orest Nowosad, a retired official from the Office of the High Commissioner for Human Rights. Through all these examples and initiatives, both past and present, we see that human rights are deeply ingrained in the Philippine diplomatic tradition—which reflects our diverse, vibrant and free civil society and media. This Human Rights Day, let us celebrate how much the Philippines and Filipinos have contributed to human rights on the world stage. Let us be proud of this legacy, and keep it going.

As a backgrounder, early this month several congressmen headed by Sta. Rosa Representative Dan Fernandez waged a scathing attack against Meralco, citing alleged violations primarily in its Weighted Average Cost of Capital or WACC, which they said is above the standard in the industry, an allegation quickly countered by Meralco. In its defense, Meralco said the government regulator determines the fair assessment of WACC, thus denying any wrongdoing. Certainly, a radical shift in the policy on electricity distribution would affect investors’ confidence. That’s why, in my capacity as chairman of FPI, I called on the national leadership to step in and stop this brazen attack on a legitimate business enterprise. I have to stress that these moves on Meralco’s franchise, and the attempts to whimsically change economic policies, will scare away for-

eign investments and will gravely affect the serious efforts of President Ferdinand Marcos Jr. in his foreign missions precisely to attract investments. The FPI can’t allow this vicious attack against one of its members to ultimately drag down the country’s economy—because that’s the potential effect of this mischievous allegation for which there is not a shred of evidence. This is not only counterproductive but against the principles of what we stand for, which is stability in the business environment. If there are issues against Meralco or any member of the energy industry, is it not the Department of Energy and the Energy Regulatory Commission who should resolve these issues? Now, if the specific issue is the WACC, this falls under the authority of the Energy Regulatory Commission. The ERC is the proper agency to resolve the issue since the rate-

setting function under the law is its responsibility and duty. Perhaps it is time to have a more sober discussion on this matter. We do not need moves that rattle business confidence, especially in this very difficult time when industries and businesses need a stable environment to be able to compete, survive and thrive. We don’t know what prompted some congressmen to propose subdividing Meralco’s franchise area, which can have negative consequences for consumers. Their proposal is obviously disadvantageous to consumers. For one, they are removing Meralco’s benefit from economies of scale, which can spread fixed costs over a larger customer base, potentially leading to lower overall costs and more efficient operations. This, in turn, could result in cost savings that may be passed on to consumers through lower electricity prices. The move will also increase the number of our electric power distributors, which potentially complicates regulatory oversight and monitoring. It’s certainly more manageable for our power regulatory agencies to regulate and enforce quality standards, consumer protection measures, and pricing regulations when dealing with a smaller number of power distributors. Lastly, this can lead to reduced innovation, higher electricity rates for consumers, and diminished overall economic welfare. We know that many of our legislators are working diligently to serve their constituents and create laws

that benefit society as a whole. But it would do well for our congressmen to work with industry leaders so they can draft bills that have significant economic impact. FPI members certainly need their support to make Philippine industries grow and become more competitive. We don’t need anti-industry laws, which will stunt the growth of the Philippine economy. For example, FPI is still trying to resolve the serious impact of a recent law on Expanded Producer Responsibility, or EPR, wherein the waste management duty of the government agencies concerned, which miserably failed in performing this mandate for decades, is being transferred to Philippine manufacturers and producers. Businesses have been taxed for this purpose. The FPI is relentlessly fighting smuggling and other illicit trade activities to protect the government’s needed revenues, where tax leakages run up to more than P200 billion annually. The good news is, by all indications, a strong case will soon be filed against those involved in the multi-billion peso technical smuggling of palm olein, after President Marcos made that bold pronouncement in his last State of the Nation Address: “Bilang na ang mga araw ng mga smuggler!” Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

The world’s leader in carbon capture shows why it’s a long shot By Jennifer A. Dlouhy & Akshat Rathi

early 200 countries are in the home stretch of tough negotiations at COP28 over what the world should do to combat climate change. A central debate is about whether to quickly phase out fossil fuels or continue to burn them while banking on technologies that have the potential to mitigate their emissions. The bet rests on carbon capture and storage (CCS), a process that traps carbon dioxide from factories or power plants and buries it away. In the draft deal released at COP28 on Monday evening, “carbon capture” is mentioned alongside nuclear, hydrogen and renewables as one of the many options to substitute “unabated” fossil fuel use. There is no reference to specific capacity or timing. Oil companies have been employing the technology for decades but mostly pumped the trapped CO2 back into the ground to extract more fossil fuel. Today, there’s increasing interest in using CCS to reduce the carbon intensity of products, such as cement and steel, and even suck CO2 directly out of the air.

Energy intensive and expensive

Deploying CCS is so energy intensive and expensive, said Emily Grubert, a professor at the University of Notre Dame. “If you’re not required to do it, you’re not going to do it.” That’s where governments think they can make a difference. At the United Nations summit in Dubai, many of the world’s largest economies are pledging to redouble efforts to back CCS through subsidies. Carbon capture projects have now been announced on every inhabited continent. But the big question remains: Will that be enough to arrest the dangerous climb in global temperatures? One country provides an instructive example. For decades, the US has dedicated billions of dollars in federal government spending—both grants and tax credits—to propel carbon capture ventures at power plants and industrial facilities, but it has little to show for that largesse. Just 14 projects are operating today, with half of them tied to the very cheapest applications—gas processing and ethanol production—according to a database by the non-governmental organization Clean Air Task Force.

Bigger tax credits expanded by the Inflation Reduction Act have supercharged interest in the sector, says Jessie Stolark, executive director of the US group Carbon Capture Coalition. But while more than 150 projects have been announced, those ventures may take five to seven years to build and some may never result in steel in the ground. For years, anyone trying to sell a carbon capture project in the US had to navigate a complicated and expensive path to monetize the tax credits. To lure in project financing from the tax equity market, for instance, developers often found themselves forfeiting 30 percent of the value of the credit right from the start—essentially shedding some $15 off the max $50-per-ton credit in late 2018. The IRA boosted that credit to $85 per ton while also allowing some credits to be paid out in cash. Raising capital is still tough, but the financial case has become clearer for both investors and developers. A major problem is that the US has undermined its generosity for CCS with an incentive-focused approach, says Ben Longstreth, global director for carbon capture at the CATF. “The carrots have been too small for most carbon capture applications,” he said, referring to the tax credits and other government support. The US started pushing more carbon capture in 2015—in the form of a regulation that required newly built coal-fired plants to use the technology. Yet, the high costs of carbon capture meant that rule also discouraged new coal plant construction—and didn’t drive a wave of CCS. The US is dabbling with more mandates for carbon capture in the form of a proposed Environmental Protection Agency requirement for some natural gas power plants to adopt the technology toward the end of the next decade. But the requirement would only apply to a sliver of gas plants, and some own-

ers may shutter facilities—or simply curtail their operation—to avoid the regulation. Developers also face enormous logistical and permitting hurdles— with big, project-killing fights over new proposed pipelines to carry carbon dioxide as well as the injection wells to store the gas underground. It took six years before the federal government approved the first wells. The EPA now has a list of nearly 200-and-growing awaiting review. Some states, including Louisiana, are hoping to take the lead role vetting potential carbon storage wells within their borders, which would help ease the backlog. But those plans pit state authorities against residents who’ve spent their lives living next to petrochemical facilities and are leery of local oversight as well as the risks of residing near CO2 dumping grounds.

An even bigger problem

A lack of pipelines is an even bigger problem, particularly for ethanol factories in the rural Midwest, which can trap gas at a relatively cheap price but don’t have many underground storage opportunities. Those facilities will depend on pipelines to take the gas to far-off repositories along the Gulf Coast or further north. Proposed CO2 pipelines in the region have met fierce resistance from local landowners, with opposition prompting one group of developers to cancel the $3.5 billion Navigator Heartland Greenway project in October. The outlook is bearish for the other pipelines waiting in the wings, said James Lucier, managing director at research group Capital Alpha Partners. “Not even tens of billions of dollars in carbon sequestration tax credits will make the pipelines move any faster,” Lucier told clients in a research note that soberly predicted no new CO2 pipelines will be built in the US before 2026. For opponents, the massive web of infrastructure needed to support CCS is reason enough not to pursue it at all. “We’re talking about decadal infrastructure—things that have expected economic lives that are quite long and payback periods and financing that stretches from years to decades,” said Steven Feit, senior attorney with the Center for Inter-

national Environmental Law. The US already has one of the most favorable setups for CCS. There’s no shortage of facilities where CO2 can be captured and the country has some existing CO2 pipelines. It also has onshore sites where CO2 can be sunk deep underground and many skilled workers for these projects. That’s not the case for other regions. One of the largest investments in CCS is being made in Norway. The Northern Lights project—a joint venture between Equinor, Shell and TotalEnergies—is set to capture emissions from industrial facilities or power plants. If all goes well, the liquefied CO2 will be loaded onto ships and sent to the country’s north, where a pipeline will take it offshore to put deep underground. And Northern Lights is keen to find customers beyond Norway to help cover the project’s cost. It plans to open up the storage facility to anyone looking for a place to store their trapped CO2. The level of coordination required to make that work— between countries and companies across a vast geographical region—is going to be much more complicated than any project in the US. Many big projects have also had a spotty track record. The Chevron Corp.-led Gorgon project in Australia, which captures CO2 while processing natural gas, has never been able to operate at more than 70 percent of its capacity since it began operation in 2019. The world’s largest CCS project, a facility named Century, is attached to a natural-gas processing facility in Texas. Once owned by Occidental Petroleum Corp., it had few if any technical problems, but the project’s economics were pegged to natural gas prices that cratered soon after it began operation in 2010. Out of the five main levers for cutting energy emissions—solar, wind, batteries, hydrogen and carbon capture—the first three are profitable and where the world needs to make quick progress, says Maurice Berns, chair of Boston Consulting Group’s Center for Energy Impact. “We do need to look at carbon capture and hydrogen,” he said. “But [too much focus on it] risks being a distraction.” With assistance from Coco Liu / Bloomberg

A16 Wednesday, December 13, 2023

PHL SECURES $2.1-B LOAN FROM ADB FOR BATAAN-CAVITE BRIDGE By Cai U. Ordinario @caiordinario

HE Asian Development Bank (ADB) approved on Tuesday a $2.1-billion loan for the Philippines to bankroll the Bataan-Cavite Interlink Bridge (BCIB) Project. The amount will cover the construction of a 32.15-kilometer (km) climate-resilient bridge connecting Bataan and Cavite provinces across Manila Bay to decongest Metro Manila. ADB said this project will enable “greater mobility of labor and goods,” and enhance economic productivity in the country’s largest region of Luzon. “This project will transform the economic landscape of central Luzon, unlock the full potential of Bataan and Cavite for trade, manufacturing, and industrial output, and boost their tourism,” said ADB Vice President for East and Southeast Asia, and the Pacific Scott Morris. “Once completed, BCIB will offer a platform for reimagining a more vibrant, resilient, and dynamic greater Manila Bay area.” The BCIB Project, one of the government’s f lagship infrastructure projects, will complete the transport loop around Manila Bay and better link Metro Ma-

nila to central Luzon and nearby Cavite, Laguna, Batangas, Rizal, and Quezon provinces. ADB said the project will help boost economic activity in these areas, which together account for 60 percent of the country’s GDP. The BCIB project will be financed under a multitranche financing facility, with the first tranche pegged at $650 million. The project will cut travel time between Bataan and Cavite to 1.5 hours from 5 hours, and to about 2 hours from 4 hours between Bataan and Metro Manila. The traffic decongestion in Metro Manila and the reduced travel time will help lower annual greenhouse gas emissions in the country by an estimated 79,000 tons of carbon dioxide equivalent. “The BCIB represents the latest installment in ADB’s broader agenda of support towards strengthening urban and regional transport networks in and around greater Manila. This includes the South Commuter Railway, Malolos Clark Railway, and two other projects currently being prepared for financing—the Metro Manila Rail Transit Line 4 and the Laguna Lakeshore Road Network. Continued on A13

House gives green light to priority measures of Ledac T By Jovee Marie N. dela Cruz

@joveemarie

HE House of Representatives on Monday approved four priorities of the Legislative-Executive Development Advisory Council (LEDAC)—the proposed New Government Procurement Act, the proposed National Water Resources Act, the proposed Philippine Cooperative Code of 2023 and Revised Government Auditing Code of the Philippines. House Bill (HB) 9648 seeks to repeal Republic Act (R A) 9184, or the proposed Government Procurement Reform Act, to further improve the government procurement system for cost-effective, transparent, competitive, streamlined, sustainable, and inclusive government procurement activities, independent of the source of funding, whether local or foreign. HB 9648 aims to establish uniform procurement procedures and documentation while implementing an electronic procurement platform to enhance transparency. President Ferdinand R. Marcos Jr. said enacting a new government

procurement law would strengthen the whole-of-government and whole-of-society approach, which is regarded as a “transformative” solution amid the changing times. The bill seeks to institute a streamlined and transparent procurement process through definitive periods in the process, the use of emerging technologies and innovative solutions, and open contracting practices. Under the bill, an electronic procurement system will be adopted, which provides for a single portal through the Philippine Government Electronic Procurement System (PhilGEPS) as the primary source of information on all govern-

ment procurement activities, from the planning stage up to contract implementation. Aside from competitive procurement, other alternative modes of procurement proposed in the measure are direct contracting, limited source bidding, repeat orders, and negotiation.

Water resources

ALSO passed on the third and final reading is HB 9663, or the proposed “National Water Resources Act,” one of the measures prioritized during the 2023 State of the Nation Address. The bill seeks to create the Department of Water Resources (DWR) and establish the national framework for water resource management. T he proposed depa r t ment would be the primary agency responsible for the “thorough and unified” identification and mapping of all water resources, as well as for planning, policy creation, and management. The DWR will be the primary agency responsible for the comprehensive and integrated identification and mapping of all water resources, planning, policy formulation, and management of the

ownership, appropriation, utilization, exploitation, development, sustainability, and protection of water resources in the country, except fisheries or aquaculture. The proposed department will develop institutional arrangements with public water organizations and ensure coordination with all stakeholders for all water resource development, integration, and management activities, including sanitation, flood risk, and drought risk management. The bill proposes the creation of the Water Regulatory Commission as an independent, quasi-judicial regulatory body with overall authority and powers that shall cover and apply to all service providers, whether private or public, providing or intending to provide water supply, including suppliers to subdivisions or other service providers, sewerage, or septage treatment and disposal services. The measure seeks to reconstitute the National Water Resources Board as the National Water Resource Allocation Board, which would serve as the approval body for using water resources, including dam construction. Continued on A13

Bill aiming to develop local defense industry gets Senate approval By Butch Fernandez @butchfBM

HE Senate on Monday approved on third and final reading a bill meant to empower the Philippines to manufacture its weapons, develop its defense industry and reduce its dependence on foreign allies. Sen. Ronald “Bato” Dela Rosa thanked his colleagues for the third reading passage of Senate Bill (SB) 2455, also known as the “Self-Reliant Defense Posture Revitalization Act,” noting it is a timely response to the country’s current struggles with using its scarce defense resources amid elevated external threats to its security, particularly those arising from its maritime disputes. “(The) approval of the measure on revitalizing the country’s selfreliant defense posture is a testament of President Ferdinand ‘Bongbong’ Marcos administra-

tion’s commitment to protect every square inch of our country’s territory,” Dela Rosa said Monday after the approval of the measure, which Senate President Juan Miguel Zubiri himself had championed. Dela Rosa also asked to be made co-author of SB 2455. Last August, Zubiri said the government must ramp up its support for the development of the local arms sector amid the “continuing threats to its sovereign rights in the West Philippine Sea.” Speaking at a Committee on National Defense hearing on the Philippine Defense Industry Development Act (PDIDA) and related bills, Zubiri said he had been strongly advocating for these, “as a key measure in support of our ongoing efforts to build a credible and concrete defense program.” Zubiri said: “Amidst growing national concern over our sover-

eignty, it is very timely that we now consider the merits of revitalizing our Self-Reliant Defense Posture program and building a local defense industry that would supply the needs of our Armed Forces.” Although the Philippines has defense cooperation with many foreign allies, he said, “we cannot afford to rely on them entirely. Overreliance on our allies leaves us on the back foot—always waiting, and always dependent on what they will supply us with.” Zubiri added, in Filipino, he did not wish a repeat of having the Philippine president “making the rounds of other countries begging for arms and bullets to help those defending it,” an apparent reference to 2017 when then President Duterte had to secure military assistance from friendly neighbors to quell homegrown terrorists who mounted the Marawi siege.

Probe on IPMR for Malampaya sought

ENATOR Robin C. Padilla is pushing for a legislative investigation into the alleged disenfranchisement of traditional leaders and their exclusion from the selection of Indigenous Peoples Mandatory Representative (IPMR) in Palawan, for the renewal of Malampaya Service Contract (SC) No. 38. Paving the way for an upcoming inquiry, Padilla filed Senate Resolution 885 citing complaints from the Cuyunon Indigenous Peoples protesting the IPMR selection process “did not adhere to customary laws and practices.” Padilla’s Resolution 885 asserted at the outset that “the right to participate in decisionmaking is a guaranteed right” pursuant to Sec. 16 of the IPR A” which states that Indigenous Cu ltura l Communities/Ind igenous Peoples (ICCs/IPs) have the right to participate fully, if they so choose, at all levels of decision-making in matters which

PADILLA

may affect their rights, lives and destinies through procedures determined by them as well as to maintain and develop their own indigenous political structures.” Consequently, it adds that “the State shall ensure that the ICCs/

IPs shall be given mandatory representation in policy-making bodies and other local legislative councils,” he said in his resolution, noting that “there is a need to examine and review the IPRA [Indigenous Peoples Rights Act] as well as the mandate of the NCIP in the protection of the rights and welfare of the IPs with the end in view of improving the provisions of the IPRA.” Moreover, the Padilla resolution cited complaints regarding the issuance by the NCIP of a certificate of non-overlap on the renewal of SC No. 38, which allows for the continued production of the Malampaya gas field; as well as alleged irregularities in the conduct of the IPMR selection process held last June 30. The resolution also directs the Committee on Cultural Committees and Muslim Affairs—which Padilla chairs—to conduct the inquiry in aid of legislation. Butch Fernandez

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, December 13, 2023

SPNEC now owns developer Amnesty deadline nearing, SEC cites of world’s-largest solar farm T

By Lenie Lectura @llectura & VG Cabuag @villygc

P New Energy Corp. (SPNEC) has acquired the shares of Prime Infrastructure Inc. (Prime Infra) in Terra Solar Philippines Inc. (TSPI) for P6 billion. The TSPI is a joint venture between Prime Infra and SPNEC parent Solar Philippines Power Project Holdings Inc. The firm is developing a 3.5-gigawatt (GW) solar and 4-gigawatt hours (GWh) battery storage project, which is touted as the world’s largest solar project. In a disclosure to the Philippine Stock Exchange (PSE) last Tuesday, SPNEC said that it has already executed a Deed of Absolute Sale to acquire the shares from Prime Infra. Together with SPNEC’s shares in TSPI, SPNEC has taken full control of TSPI. The solar project is envisioned to be larger than India’s Bhadla Solar Park and China’s Golmud Solar Park, currently the world’s largest solar farms at over 2.2 GW. TSPI’s would also exceed the capacity of all gridconnected solar projects operating in the Philippines combined at over 1.5 GW, based on latest figures of the Department of Energy. SPNEC previously disclosed it has secured over 3,000 hectares of

land for its projects, most of which have already been converted to industrial use.

World’s largest

SPNEC’s developments are supported by the agreement signed between MGen Renewable Energy Inc. (MGreen), Solar Philippines and SPNEC on October 12, 2023, for a P15.9-billion investment. Upon closing, MGreen will own 15.7 billion common shares and 19.4 billion preferred shares of SPNEC, translating to a total voting interest of 50.5 percent. MGreen is the renewable energy development arm of Meralco Powergen Corp., a wholly-owned subsidiary of the Manila Electric Co. SPNEC is currently majority-owned by Solar Philippines. “This will be one of the largest solar projects not just in Asia, but in the world. The [DOE’s] vision is to have about 35 percent of the country’s energy come from renewable energy, and this is one of Meralco’s

major contributions to this goal,” Meralco Chairman Manuel V. Pangilinan had said. The estimated total investment for this project has been estimated to be “around P200 billion.” “It’s a big project. It has attracted a lot of interest from foreign investors because it’s big. It’s transformative for the Philippines,” Pangilinan said earlier. The amount also includes battery energy storage system (BESS) projects. “There is a battery element as part of the total project itself. So, with the batteries, the estimated cost is around P200 billion,” said Pangilinan, adding that the solar and BESS projects will be the largest not just in Asia, but in the world.”

Suspension lifted

THE SPNEC made the announcement to acquire 100-percent of TSPI after the PSE lifted the suspension on the trading of its shares last December 1 after the firm reported its public float has been raised to 20.02 percent to meet the minimum public ownership requirement of 20 percent. The public now owns 6.88 billion SPNEC shares with non-public shares amounting to 27.49 billion shares. Substantial shareholders are Leandro Leviste’s Solar Philippines (69.79 percent) and Metro Pacific Investments Corp. (4.65 percent). SPNEC’s public ownership fell below 20 percent after the approval

of its increase in authorized capital stock from 10 billion to 50 billion shares. The increase was purportedly to support the expansion of its project portfolio. Last June 2, 2023, the PSE ordered the suspension of the trading of the SPNEC shares after the “company’s public ownership level fell below 20-percent prescribed minimum percentage.” Pursuant to the Guidelines on Minimum Public Ownership Requirement for Initial and Backdoor Listing dated August 3, 2020, the SPNEC is required to have at least 20-percent public float.

Supply agreement

MERALCO has signed a 20-year Power Supply Agreement (PSA) with SPNEC’s TSPI for the supply of 850 megawatts (MW) of renewable energy to cover the power distributor’s mid-merit requirement starting 2026. The PSA provides that a total of 600 MW of power supply will be available by Feb 26, 2026, while additional 250 MW will be delivered starting Feb 26, 2027 at a headline and “levelized cost of electricity” (LCOE) rate of P5.80 per kilowatthour, which was based on assumptions at the time when the competitive challenge for the unsolicited proposal was launched. The signing of the PSA serves as the culmination of the competitive challenge for TSPI’s unsolicited proposal.

SNAP’s storage project completed S

N Aboitiz Power (SNAP), a joint venture between Aboitiz Power Corp. and Norwegian firm Scatec, has completed its 20-megawatt (MW) battery energy storage system (BESS) project at the 388-megawatt (MW) Magat hydropower plant in Ramon, Isabela and is eyeing to put up more in its existing facilities. “The physical completion was a month or two ago,” said SNAP President and CEO Joseph S. Yu. “The target date we’re eyeing for commercial operations is on December 26. We’re just waiting for the COC (Certificate

IMD cites innovative, resilient companies

HE firms behind the Nike, Pfizer and Microsoft brands are the top “future-ready” companies in fashion, pharmaceuticals and technology sectors as these firms have been innovative and resilient, according to the 2023 Future Readiness Indicator by the International Institute for Management Development (IMD). Nike Inc., which has 34 stores in the Philippines, made it to the top of the 2023 ranking for luxury fashion of the IMD’s indicator that measures a company’s “ability to anticipate and adapt to external changes.” In a statement on Tuesday, IMD, one of the world’s leading business schools, said Nike retained its top position in a fashion industry marked by supply chain disruption. Andrea San Juan

of Compliance). Hopefully, the regulators will cooperate with us and have it ready for the reserve market for December 26.” The reserve market allows for the trading of ancillary services (AS) that are necessary to support the transmission of capacity and energy from resources to loads, while maintaining the reliable operation of the transmission system. The BESS project at SNAP’s Magat hydro plant would primarily be used for AS. The investment cost for the SNAP Magat BESS project reached P1.2 billion.

Yu said the company has plans to develop more BESS but a final investment decision (FID) has yet to be reached. “We have three more projects, almost 100MW more between Magat and Benguet that we hope to bring to a final investment decision in 2024. The design and feasibility study are ongoing,” Yu said. If and when SNAP pushes through with more BESS projects, Yu said the company will look for ways “to optimize and reduce the investment cost.” “The rule of thumb is $800,000

to $1 million per megawatt. We have a very good team working on it and I am very optimistic that they should be able to come up with something interesting,” added Yu. Aside from Magat, SNAP owns and operates the 105MW Ambuklao and 140MW Binga hydro plants in Benguet, and the 8.5MW Maris hydro plant in Isabela. Yu said the BESS project aims to balance the grid’s reliability, enable energy storing for use at a later time, strengthen SNAP Magat’s operations, and support a low carbon environment. Lenie Lectura

ACEN bares roadmap for coal-fired plant

HE listed energy platform of the Ayala Group, ACEN Corp. (PSE: ACEN), unveiled its “ just transition roadmap” (JTR) for the 246-megawatt (MW) South Luzon Thermal Energy Corp. (SLTEC) coal-fired power plant, building on the momentum generated by its “energy transition mechanism” (ETM) initiative. The ETM is a concept developed by the Asian Development Bank (ADB), which aims to leverage low-cost and long-term funding geared towards early coal retirement and the reinvestment of proceeds to enable renewable energy (RE) projects. ACEN’s JTR is being developed in partnership with the Coal Asset Transition Accelerator (CATA)—a global platform empowering coal asset owners, a longside gover nment f inanciers, and local stakeholders, to put in place financial mechanisms that will support the acceleration of the transition away

from coal in a just and inclusive way. In his presentation during the launch, ACEN President John Eric T. Francia unveiled six priority areas for the implementation of its JTR. These are clean energy replacement; power plant decommissioning; asset repurposing; community transition; worker reskilling and redeployment; and cascading learnings and continuous improvement. “While the planned coal to clean transition for SLTEC is scheduled more than a decade from now, it is never too early to develop a long-term roadmap. This will ensure that the transition is carried out in a just, thorough and proactive manner,” he said. CATA’s core partners are Climate Smart Ventures (CSV), Carbon Trust, and Rocky Mountain Institute, and is supported by the European Climate Foundation (ECF), Growald Climate Fund (GCF), and IKEA Foundation.

“We are thankful for the partnership with CATA and CSV on this pioneering Just Energy Transition initiative, and more than happy to share learnings with the broader industry,” added Francia. Rebecca Collyer, ECF Executive Director, said CATA’s partnership with ACEN will hopefully encourage other power portfolio owners with a blueprint they can emulate for their coal-to-clean journey. Meanwhile, Growald Climate Fund Execut ive Director Jo anna Messing underscored the potential of the roadmap to be a replicable model for other asset owners seeking to transition their coal assets. “In the same manner that the ACEN ETM has set the standard for commercial-based coal retirement transactions, the ACEN JTR has the potential to be a model that asset owners can replicate and from which policymakers can derive valuable insights,” said Messing. Lenie Lectura

HE Securities and Exchange Commission has again encouraged non-compliant firms and companies who had licenses suspended or revoked to start 2024 with a clean slate by availing of the amnesty before the year ends. Corporations now have less than three weeks to avail of the SEC amnesty program until the final deadline on December 31, as provided under SEC Memorandum Circular (MC) 20 (series of 2023). Launched in March, the amnesty program seeks to improve compliance with reportorial requirements by allowing non-compliant and suspended or revoked corporations to pay a reduced penalty for the late and non-filing of their general information sheets, annual financial statement and official contact details required under SEC MC 28 (series of 2020). Availing of the amnesty entitles non-compliant corporations to pay a fixed amnesty rate of P5,000, regardless of the number of reports and number of years they failed to submit their reports. Meanwhile, suspended and revoked corporations shall pay only 50% of their total assessed fines, on top of a P3,060 petition fee. In October, the SEC released a list of 22,403 ordinary corporations that are in danger of having their

certificates of incorporation revoked for their failure to submit their GIS within five years from the date of incorporation. A separate list covering 298,335 ordinary corporations that have failed to submit their GIS for three times consecutively or intermittently within five years has likewise been released. Failure to avail of the amnesty will subject non-compliant and suspended or revoked corporations to a new scale of fines that will be implemented starting January 1, 2024. Domestic stock corporations with retained earnings of less than P100,000 and domestic non-stock corporations with a fund balance or equity of less than P100,000 will incur a basic penalty of P5,000 for the first offense for the late filing of their GIS or AFS, which will increase to P9,000 when a corporation reaches the fifth offense. The SEC will also impose an additional P1,000 for every month of continuing violation. The SEC will strictly enforce the submission of reportorial requirements and impose the corresponding monetary penalties, placement of corporations under delinquency status, and suspension and revocation of a corporation’s certificate of incorporation. VG Cabuag

Tencent game threat seen overdone in NetEase’s $8B selloff

HE $8-billion wipeout in NetEase Inc.’s market value over the past three weeks on concerns of competition from a new Tencent Holdings Ltd. game ignores the company’s strong market position in China. Bulls believe that NetEase will rebound, thanks to the massive popularity of its Eggy Party, as well as a promising pipeline of new titles. They also note that the company is a “pure play” in games, which are more recession-proof than other consumer segments where Tencent is exposed. Hong Kong-listed shares of NetEase are down 10 percent from a November high on the perceived threat from Tencent’s Dream Star, which is due to be released Friday. NetEase is still up 45 percent this year, far outpacing Tencent as well as Chinese technology and global game peers. “We believe NetEase is macrodefensive with its solid longevity legacy games and track record of new games,” Julia Pan, an analyst at UOB Kay Hian Hong Kong Ltd., wrote in a note. Moreover, party games are the fastest-growing genre, and Eggy Party has “dominated” the segment, Pan said. Analysts have unanimous buy ratings on NetEase’s Hong Konglisted shares, with an average price target implying a gain of 30 percent over the next year, according to data compiled by Bloomberg. The stock’s put-to-call ratio based on total open interest has been falling this month, suggesting that options traders are also becoming more bullish on the stock.

‘Party royale’

RELEASED in May 2022, Eggy Party remains among the top app downloads in China. Its so-called “party royale” format is popular with more casual users, especially young women. Players of the game

control egg-like characters that compete in a variety of minigames and obstacle courses. Tencent’s heavy investment in Dream Star spawned concern of a repeat of its 2018 success with “battle royale” game Peacekeeper Elite, which quickly stole players away from NetEase’s Knives Out. Experts say the situation is different for Eggy Party, which has already achieved critical mass with more than 100 million monthly active users. “Party games as a genre are gaining traction in China, and the arrival of Dream Star should help expand the total addressable market rather than simply eating into Eggy Party’s user base,” said Xiaofeng Zeng, vice president at Niko Partners, a gaming consultancy company.

‘Macro-defensive’

ECONOMIC conditions may also favor NetEase, which got 80 percent of its revenue from games in the latest quarter versus 30 percent at Tencent. With spending on games seen as resilient to downturns, NetEase may be less sensitive to China’s economic headwinds than large internet peers that rely on ecommerce or advertising. NetEase also has more games on the way to cushion any loss in popularity for Eggy Party, which is estimated to have contributed a midto-high single-digit percentage of the company’s third-quarter sales. Upcoming releases include Condor Heroes and Where Winds Meet. “We see another buying opportunity emerging, mainly due to the overblown concerns about Eggy Party competition,” Morgan Stanley analysts including Alex Poon wrote in a note. “We expect its share price will regain momentum as NetEase announces the launch dates for multiple strong game titles.” Bloomberg News

Companies BusinessMirror

Wednesday, December 13, 2023

Capital Markets Efficiency bill sent to House Plenary

By Jovee Marie N. Dela Cruz

@joveemarie

N a bid to create a more inclusive investment climate and revitalize the Philippines’s capital markets, the House Committee on Ways and Means presented House Bill (HB) 9277, or the proposed Capital Markets Efficiency Promotion Act, to the plenary for debates. Contrary to the common belief that capital markets and equities are exclusive domains, House Committee on Ways and Means Chairman Joey Sarte Salceda said last Tuesday that the proposed legislation seeks to democratize access to capital investments. In his sponsorship speech, Salceda said many Filipinos indirectly engage with the stock market through institutions investing in stocks, like the Social Security System, Government Service Insurance System and the Philippine Health Insurance Corp. “The stock market is one of the best ways for reputable companies to raise cheap capital to create jobs for Filipinos; however, companies and our social protection systems

suffer from a stagnant stock market, primarily due to high tax rates,” the lawmaker said. “This discourages the rise of new companies that can create value for the economy.” Salceda added: “Our numbers do not lie.” In his elucidation, the lawmaker said that while total collection on passive income rose to P137.3 billion in 2022 from P124.1 billion in 2021, transactions on listed shares of stock amounted only to P9.2 billion. He added that the 0.6-percent stock transaction tax is the highest in the Association of Southeast Asian Nations (Asean) region. Vietnam and Indonesia only impose 0.1 percent while other neighboring countries exempt the sale of shares of stock, Salceda said.

Unilever faces ‘greenwashing’ probe in UK

HE UK’s antitrust regulator is investigating “green” claims made by the British arm of Unilever Plc., saying it wants to ensure that consumers aren’t being misled by a company that has touted social responsibility as a selling point for goods ranging from shampoo to ice cream.

The maker of Dove soap and Cif cleaner may have been overstating the environmental qualities of certain products through the use of “vague and broad” claims, unclear statements and natural looking images and logos, the Competition and Markets Authority said Tuesday. Consumer goods makers have used eco-friendly marketing to make their products stand out as shoppers tighten their belts and switch to supermarket own brands. But a crackdown in the UK and European Union, designed to prevent baseless claims and protect consumers, has exposed Unilever and its peers to greater scrutiny. The EU this year reached a provisional agreement to amend consumer rights laws to incorporate greenwashing protections. Bloomberg News

Tax rates

ACCORDING to the lawmaker, the Philippines ranked lowest in the amount of capital raised through the stock market. In 2022, the Philippine Stock Exchange (PSE) listed 283 companies, significantly fewer than other Asean stock exchanges, which host between 425 and 963 listed companies, Salceda said. Another critical aspect addressed by the bill is the Philippines’s imposition of the highest dividend tax rate in the Asean region set at 25 percent compared to the regional average of 8.4 percent, he added. To align with regional standards, HB 9277 proposes a reduction of the current 25-percent dividend tax rate to 10 percent. According to Salceda, this adjustment aims to encourage crossborder investments and enhance the participation of non-resident investors, ultimately improving liquidity, depth and efficiency in the capital markets. The bill also seeks to support the Philippine Charity Sweepstakes Office (PCSO) in funding essential programs such as the Universal Health Care initiative and Malasakit Centers.

MUTUAL FUNDS

Paramount role

HB 9277 also proposes to lower the final tax rate for PCSO and lotto winnings from 20 percent to 10 percent. Additionally, the documentary stamp tax (DST) on PCSO lotto ticket costs would be reduced from P0.20 to P0.10. The provisions seek to address the “adverse effects” of the Train law (Republic Act 10963) in 2018, which doubled the DST-rate on lotto tickets. Salceda expressed hopes for future amendments, particularly those rationalizing the DST on non-life insurance and fidelity bonds and aligning them with the rates applied to life insurance. Such adjustments would serve as an additional source of liquidity for the capital markets. The bill aims to facilitate the inflow of capital resources, optimize capital allocation and support crucial health and social welfare programs. As nations globally navigate the intricate path of economic recovery, Batangas Rep. Gerville R. Luistro, for her part, said the role of effective fiscal policies becomes paramount. “In this time of recovery, we need more money to move in the market to enable higher investments. We hope that Congress can use taxation to encourage productive endeavors,” Luistro added.

December 12, 2023

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 203.38 -2.6% -3.73% -4.19% -0.7% -2.46% ATRAM Alpha Opportunity Fund, Inc. -a 1.4116 7.12% 2.52% 0.5% 1.61% 5.01% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8318 -3.34% -3.53% -6.13% -2.47% -2.85% Climbs Share Capital Equity Investment Fund Corp. -a 0.6666 -3.36% -6.4% -5.62% n.a -4.68% First Metro Consumer Fund, Inc. -a 0.6167 -4.8% -6.75% -5.71% n.a -4.92% First Metro Save and Learn Equity Fund, Inc. -a 4.4825-3.56% -3.38% -3.09% -0.46% -3.6% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6664-5.29% -4.49% n.a n.a -4.95% MBG Equity Investment Fund, Inc. -a 82.23 14.32% -6.26% -6.51% n.a 9.18% PAMI Equity Index Fund, Inc. -a 41.3949 -4.42% -4.12% -3.37% n.a -4.16% Philam Strategic Growth Fund, Inc. -a 431.46 -3.09% -4.18% -3.44% -0.63% -2.91% Philequity Dividend Yield Fund, Inc. -a 1.1706 -3.18% 0.08% -1.4% n.a -0.38% Philequity Fund, Inc. -a 32.5802 -2.72% -2.09% -2.31% 1.24% -2.15% Philequity MSCI Philippine Index Fund, Inc. -a 0.8334 -2% -3.05% n.a n.a -1.81% Philequity PSE Index Fund, Inc. -a 4.3531 -3.41% -3.22% -2.54% 0.99% -3.17% Philippine Stock Index Fund Corp. -a 724.37 -3.49% -3.39% -2.61% 1.01% -3.28% Soldivo Strategic Growth Fund, Inc. -a 0.6608 -1.67% -3.11% -5.12% n.a -1.97% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2348 -3.96% -3.73% -4.52% -0.75% -4.1% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8213-3.84% -3.7% -2.92% n.a -3.59% United Fund, Inc. -a 3.0133 -4.13% -3.34% -2.95% 0.39% -2.61% Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.0197-3.73% n.a n.a n.a -3.46% COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,2 0.9894 n.a n.a n.a n.a n.a Philequity Alpha One Fund, Inc. -a 0.9814 -6.58% -3.54% n.a n.a -6.21% Philippine Stock Index Fund Corp. -a 879.23 -3.57% n.a n.a n.a -3.33% Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c98.3358-2.95% -3.02% -2.31% n.a -2.75% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.7921 -7.88% -12.58% -3.12% -2.01% -7.03% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5973 9.44% -0.86% 6.57% n.a 12.17% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.4718 1.52% -4.05% -2.28% -1.61% -0.87% ATRAM Philippine Balanced Fund, Inc. -a 2.1594 4.3% -1.81% -0.37% 0.32% 2.57% First Metro Save and Learn Balanced Fund, Inc. -a 2.446 -2.44% -2.48% -0.62% -0.87% -2.37% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1862 -3.87% -2.22% n.a n.a -3.77% NCM Mutual Fund of the Phils., Inc. -a 1.8964 -1.83% -1.25% 0.61% 1.47% 0.5% PAMI Horizon Fund, Inc. -a 3.4734 0.56% -2.85% -0.31% 0.63% 0.97% Philam Fund, Inc. -a 15.2085 0.02% -3.53% -0.87% 0.27% 0.45% Solidaritas Fund, Inc. -a 1.9875 -0.2% -1.74% -0.68% 1% 0.05% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3227 -0.3% -2.38% -1.92% -0.18% -0.21% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8779 -0.26% -0.36% -1.08% n.a -0.11% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.92731.53% -3.18% n.a n.a 1.32% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8204-2.01% -4.86% n.a n.a -1.82% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.7989 -3% -5.15% n.a n.a -2.87% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.0327 0.18% -5.72% -1.36% 0.07% 0.93% PAMI Asia Balanced Fund, Inc. -b$0.8695 -2.57% -8.65% -1.4% -1.44% 3.51% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.1349 5.01% -2.35% 3.87% 2.73% 7.51% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0063 1.32% -4.49% 0.68% n.a 3.57% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 389.62 3.34% 1.71% 2.6% 2.19% 3.07% ATRAM Corporate Bond Fund, Inc. -a 1.9055 1.57% 0.12% 0.54% -0.04% 1.64% Cocolife Fixed Income Fund, Inc. -a 3.3176 2.69% 1.1% 2.29% 3.76% 3.39% Ekklesia Mutual Fund, Inc. -a 2.2682 4.16% -0.36% 1.28% 1.3% 3.79% First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4455 2.14% -0.06% 2.08% 1.15% 2.28% Philam Bond Fund, Inc. -a 4.2629 1.99% -2.7% 1.73% 0.74% 2.97% Philam Managed Income Fund, Inc. -a 1.368 3.57% 1.25% 3.01% 1.73% 3.68% Philequity Peso Bond Fund, Inc. -a 4.0122 3.97% 0.24% 2.84% 1.52% 3.71% Soldivo Bond Fund, Inc. -a 1.0465 2.62% 0.29% 3.26% n.a 2.94% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2906 4.25% 1.01% 3.54% 2.06% 4.61% Sun Life Prosperity GS Fund, Inc. -a 1.758 3.51% 0.22% 2.71% 1.42% 3.67% Corporate Debt Vehicle (units) ATRAM Unitized Corporate Debt Vehicle, Inc. -a,3 1.0043 n.a n.a n.a n.a n.a Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $493.24 2.85% 0.71% 1.96% 2.5% 2.73% ALFM Euro Bond Fund, Inc. -a Є213.12 1.44% -0.9% 0.08% 0.81% 1.65% ATRAM Total Return Dollar Bond Fund, Inc. -b$1.02922.18% -6.77% -1.75% 0.06% 1.96% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0245 2.51% -2.58% -0.32% n.a 3.38% PAMI Global Bond Fund, Inc. -b$0.8468 -2.3% -8.06% -3.84% -3.22% -5.91% Philam Dollar Bond Fund, Inc. -a $2.2564 3.14% -3.67% 0.92% 1.72% 3.5% Philequity Dollar Income Fund, Inc. -a $0.0608282 1.68% -0.77% 1.32% 1.58% 1.89% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7406 -1.35% -4.96% -0.92% 0.36% 0.7% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 136.62 2.69% 1.75% 2.53% 2.03% 2.53% First Metro Save and Learn Money Market Fund, Inc. -a 1.1064 3.22% 1.84% n.a n.a 3.06% Sun Life Prosperity Peso Starter Fund, Inc. -a 1.37342.78% 1.97% 2.45% 1.99% 2.62% Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.34 4.08% n.a n.a n.a 3.85% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.095 2.44% 1.35% 1.53% n.a 2.41% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 42.2443-2.68% n.a n.a n.a -1.02% Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.4118 12.7% 8.29% n.a n.a 14.58% Sun Life Prosperity World Income Fund, Inc. -a,1 0.982 n.a n.a n.a n.a n.a Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.7826-3.1% -7.22% n.a n.a -0.94% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Launch date is August 22, 2023. 2 - Launch date is October 6, 2023. 3 - Launch date is May 25, 2023. “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.

pifa. com.ph to see the latest NAVPS/NAVPU.”

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

December 12, 2023

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG PHIL STOCK EXCH SUN LIFE

2,691,160 379,032,677 44,725 159,877,189.50 4,296,945 304,105 75,759,069.50 171,716 17,160 45,512 38,880 4,149 132,225 1,355,043 19,197,594.50 22,360 27,370 30,030 993,577 13,500

15,390 28,301,672 2,232 25,652,274 67,020 76,224 928,767 -38,880 -695,418 -8,779,887 964,280 13,500

INDUSTRIAL ACEN CORP 4.37 4.38 4.47 4.47 4.37 4.38 18,190,000 80,199,770 ALSONS CONS 0.53 0.54 0.58 0.58 0.54 0.54 296,000 159,960 ALTERNERGY HLDG 0.73 0.76 0.74 0.76 0.72 0.76 391,000 286,700 ABOITIZ POWER 37.7 37.8 37.8 38.15 37.4 37.8 1,495,800 56,714,990 RASLAG 1.2 1.22 1.23 1.25 1.22 1.22 36,000 44,340 BASIC ENERGY 0.179 0.18 0.179 0.18 0.179 0.179 1,630,000 292,940 FIRST GEN 16.82 16.88 16.86 16.86 16.78 16.82 153,500 2,583,872 FIRST PHIL HLDG 60.9 61.1 61 61.4 61 61.1 4,810 293,508 MERALCO 374 375.8 369 375.8 369 375.8 168,570 63,099,966 MANILA WATER 18 18.08 18.1 18.24 18 18 41,000 740,864 PETRON 3.42 3.45 3.43 3.43 3.4 3.43 500,000 1,710,490 PETROENERGY 4.45 4.78 4.58 4.58 4.45 4.58 10,000 45,670 PHX PETROLEUM 4.72 5 4.9 5 4.89 5 17,000 84,790 REPOWER ENERGY 6.85 6.9 6.9 6.98 6.9 6.9 7,000 48,380 SYNERGY GRID 6.2 6.22 6.09 6.27 6.08 6.2 406,600 2,522,520 SHELL PILIPINAS 11.1 11.4 11.3 11.4 11 11.4 103,600 1,155,686 SPC POWER 7.3 7.31 7 7.32 7 7.31 7,200 52,321 SP NEW ENERGY 1.12 1.14 1.12 1.14 5,165,000 5,819,190 AGRINURTURE 1.25 1.27 1.2 1.28 1.2 1.27 5,990,000 7,421,020 AXELUM 2.3 2.32 2.31 2.33 2.31 2.31 342,000 790,210 CENTURY FOOD 33.1 33.2 32.55 33.25 32.3 33.1 2,107,800 69,589,105 DEL MONTE 7 7.4 7.45 7.45 7.4 7.4 1,600 11,875 DNL INDUS 6.04 6.07 6.3 6.34 6.03 6.04 1,485,500 9,039,661 EMPERADOR 20.7 20.75 20.65 20.8 20.6 20.75 72,100 1,494,830 SMC FOODANDBEV 50 50.45 50.45 50.95 49 50 135,500 6,765,356 FIGARO COFFEE 0.61 0.62 0.63 0.63 0.61 0.62 903,000 560,060 ALLIANCE SELECT 0.475 0.48 0.48 0.48 0.48 0.48 20,000 9,600 FRUITAS HLDG 1 1.02 1.02 1.03 1 1.02 380,000 383,350 GINEBRA 156.9 158.5 160.8 160.8 156.5 158.5 2,290 360,318 JOLLIBEE 239.2 240 238 241.2 237.4 239.2 331,160 79,334,006 KEEPERS HLDG 1.5 1.51 1.5 1.52 1.49 1.5 1,563,000 2,364,560 MAXS GROUP 3.06 3.1 3.1 3.16 3.05 3.1 91,000 280,410 MG HLDG 0.093 0.097 0.091 0.091 0.091 0.091 10,000 910 MONDE NISSIN 8 8.03 8 8.11 7.95 8 1,386,300 11,116,332 SHAKEYS PIZZA 9.33 9.44 9.4 9.4 9.32 9.32 1,000 9,376 ROXAS AND CO 0.475 0.495 0.465 0.495 0.465 0.495 74,000 36,510 RFM CORP 2.98 2.99 3 3 2.99 2.99 104,000 311,860 UNIV ROBINA 115 115.5 111.9 115 111.5 115 1,467,310 166,039,473 VITARICH 0.475 0.5 0.48 0.48 0.475 0.48 290,000 138,300 CEMEX HLDG 0.78 0.79 0.79 0.79 0.77 0.78 1,069,000 835,470 EC VULCAN CORP 0.66 0.7 0.69 0.71 0.66 0.7 197,000 132,590 EEI CORP 5.62 5.67 5.62 5.7 5.6 5.7 46,100 259,024 MEGAWIDE 3.05 3.09 3.05 3.05 3.04 3.05 190,000 579,350 CROWN ASIA 1.51 1.57 1.58 1.58 1.57 1.57 10,000 15,720 EUROMED 0.71 0.78 0.78 0.78 0.75 0.75 4,000 3,060 PRYCE CORP 5.19 5.29 5.19 5.2 5.19 5.2 8,500 44,154 GREENERGY 0.249 0.25 0.249 0.255 0.249 0.25 27,930,000 7,021,280 INTEGRATED MICR 3.35 3.39 3.35 3.39 3.33 3.39 27,000 90,430 IONICS 1 1.03 1.01 1.03 1 1 186,000 186,420 PANASONIC 4.68 4.94 4.94 4.94 4.94 4.94 1,000 4,940 SFA SEMICON 1.93 2.01 2 2.01 2 2.01 336,000 674,360 CIRTEK HLDG 1.53 1.54 1.56 1.59 1.53 1.54 185,000 289,320

-3,606,390 -5,320 -21,635,055.00 -17,900 -1,032,038 117,148 33,868,266 43,698 -58,200 -54,900 -982,022 5,270,480 345,550 -115,500 -9,252,780.00 -3,007,152 -1,253,920 -5,301,840.50 -1,020 -212,484 3,230,220 1,711,610 -170,500 -7,883,675.00 5,640 -267,000 -47,545,561 815,800 700 240,950 40,000 -23,490 -79,000

HOLDING & FRIMS

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG COSCO CAPITAL DMCI HLDG FILINVEST DEV FJ PRINCE A GT CAPITAL JG SUMMIT LOPEZ HLDG LT GROUP PRIME MEDIA SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS

51 124.9 6.9 100.4 30 7.75 51.45 8.58 14.02 18.2 51.7 95 22 69.4 60.65 1.39 2.46 2.7 172 2,700

0.87 647.5 48.25 9.89 11 0.41 4.48 9.3 5.21 1.57 537 37.55 4.3 8.79 2.73 830 115 102.1 0.25

53.9 125 7.49 102.5 30.05 7.94 51.5 8.6 17.62 18.24 54 114.9 22.75 70 60.7 1.4 2.53 2.76 173.2 2,710

0.88 660 48.75 9.9 11.26 0.42 4.5 9.33 5.28 2.37 538 38.45 4.31 8.8 2.78 839 115.4 106 0.275

49.5 124.7 7.44 99.5 30.1 7.9 51 8.5 14.3 18.2 54 100 22.1 69.1 58.7 1.39 2.46 2.71 171.1 2,700

0.88 647.5 47.15 9.9 10.96 0.42 4.4 9.32 5.29 1.57 544.5 37.9 4.3 8.8 2.74 835 114.6 102 0.25

51.1 125.5 7.68 102.5 30.15 7.94 51.5 8.58 14.3 18.28 54 114.9 22.75 70.5 60.95 1.42 2.54 2.76 174 2,700

0.89 660 48.75 9.93 11.26 0.42 4.5 9.33 5.29 1.57 553 38.45 4.31 8.81 2.74 839 115.5 102 0.25

49.5 124.2 7.3 99.5 30 7.72 51 8.5 14.3 18.2 54 100 22 69 58.7 1.39 2.46 2.7 171.1 2,700

0.86 638.5 47.15 9.86 10.96 0.42 4.4 9.3 5.29 1.57 537 37.2 4.3 8.77 2.73 826 113.1 102 0.25

51 125 7.62 102.5 30 7.94 51.45 8.58 14.3 18.24 54 114.9 22.75 69.4 60.7 1.4 2.53 2.76 172 2,700

0.88 660 48.75 9.9 11.26 0.42 4.5 9.3 5.29 1.57 537 38.45 4.31 8.8 2.73 839 115.4 102 0.25

53,800 3,032,390 6,000 1,585,910 142,900 39,000 1,475,590 20,200 1,200 2,500 720 40 6,000 19,490 318,430 16,000 11,000 11,000 5,760 5

1,460,000 109,230 184,600 4,437,300 16,000 40,000 2,239,000 1,082,000 100 15,000 202,980 394,900 41,000 874,700 13,000 153,290 500,680 100 50,000

1,269,860 71,623,455 8,943,970 43,940,898 179,878 16,800 9,986,890 10,072,335 529 23,550 109,264,240 15,155,345 176,380 7,688,234 35,560 127,581,450 57,539,924 10,200 12,500

PROPERTY ARTHALAND CORP 0.415 0.44 0.425 0.44 0.42 0.44 170,000 72,800 ANCHOR LAND 4.36 5.1 5.1 5.1 5.1 5.1 1,000 5,100 AYALA LAND 31.9 32 31.9 32.1 31.6 32 6,011,800 191,706,465 AYALA LAND LOG 1.6 1.61 1.6 1.61 1.55 1.61 195,000 306,870 ALTUS PROP 8.95 9.2 9.2 9.2 9.2 9.2 1,100 10,120 ARANETA PROP 1.04 1.05 1.05 1.1 1.03 1.05 2,089,000 2,224,960 AREIT RT 31.55 31.7 31.25 31.7 31.2 31.7 1,802,600 56,648,510 A BROWN 0.63 0.65 0.63 0.65 0.63 0.65 30,000 19,300 CITYLAND DEVT 0.65 0.7 0.72 0.72 0.7 0.7 14,000 9,830 CEB LANDMASTERS 2.48 2.52 2.48 2.5 2.46 2.5 143,000 355,080 CENTURY PROP 0.29 0.3 0.29 0.3 0.285 0.285 1,920,000 550,100 CITICORE RT 2.54 2.55 2.56 2.56 2.54 2.54 987,000 2,518,200 DOUBLEDRAGON 7.81 7.96 8.02 8.03 7.8 7.96 561,400 4,435,216 DDMP RT 1.2 1.21 1.19 1.21 1.18 1.21 470,000 565,070 DM WENCESLAO 6.18 6.2 6.2 6.2 6.2 6.2 4,000 24,800 EMPIRE EAST 0.126 0.13 0.132 0.132 0.124 0.126 2,890,000 370,640 EVER GOTESCO 0.28 0.29 0.275 0.29 0.275 0.29 870,000 250,000 FILINVEST RT 2.7 2.75 2.75 2.79 2.67 2.7 3,602,000 9,777,740 FILINVEST LAND 0.55 0.57 0.56 0.57 0.55 0.57 757,000 425,250 GLOBAL ESTATE 0.74 0.8 0.74 0.74 0.74 0.74 10,000 7,400 GOLDEN MV 805 844.5 800.5 845 800.5 845 420 345,900 PHIL INFRADEV 0.52 0.58 0.52 0.52 0.52 0.52 104,000 54,080 CITY AND LAND 0.75 0.76 0.71 0.76 0.71 0.76 180,000 129,510 MEGAWORLD 1.98 1.99 1.99 2 1.97 1.99 4,228,000 8,386,730 MRC ALLIED 1.4 1.45 1.3 1.5 1.3 1.45 225,000 319,820 MREIT RT 12.02 12.06 12.1 12.1 12 12 48,100 578,706 OMICO CORP 0.228 0.229 0.228 0.228 0.228 0.228 10,000 2,280 PHIL ESTATES 0.345 0.355 0.345 0.35 0.345 0.35 480,000 167,100 PREMIERE RT 1.52 1.54 1.54 1.54 1.52 1.54 176,000 270,920 PRIMEX CORP 2.32 2.59 2.59 2.59 2.59 2.59 1,000 2,590 RL COMM RT 4.75 4.78 4.74 4.79 4.71 4.75 1,607,000 7,602,490 ROBINSONS LAND 15.12 15.2 15.1 15.26 15.08 15.2 2,859,200 43,383,368 PHIL REALTY 0.15 0.158 0.157 0.157 0.15 0.15 30,000 4,570 ROCKWELL 1.34 1.37 1.33 1.33 1.33 1.33 2,000 2,660 SHANG PROP 3.66 3.67 3.67 3.67 3.65 3.65 15,000 54,930 STA LUCIA LAND 3.03 3.36 3.3 3.3 3.3 3.3 3,000 9,900 SM PRIME HLDG 33 33.2 32.35 33.2 32.35 33.2 4,140,900 136,679,000 VISTAMALLS 2.26 2.42 2.42 2.42 2.42 2.42 1,000 2,420 SUNTRUST RESORT 0.77 0.83 0.84 0.84 0.78 0.83 7,000 5,570 VISTA LAND 1.6 1.64 1.61 1.64 1.6 1.64 1,073,000 1,727,460 VISTAREIT RT 1.68 1.69 1.69 1.69 1.68 1.69 621,000 1,047,240 SERVICES ABS CBN 3.65 3.69 3.65 3.7 3.65 3.65 28,000 102,800 GMA NETWORK 8.26 8.29 8.26 8.3 8.23 8.26 136,300 1,126,330 GLOBE TELECOM 1,718 1,719 1,719 1,725 1,711 1,718 31,890 54,758,585 PLDT 1,259 1,265 1,263 1,265 1,251 1,265 41,065 51,722,405 APOLLO GLOBAL 0.014 0.015 0.014 0.015 0.014 0.014 96,200,000 1,347,200 CONVERGE 7.79 7.8 7.8 7.88 7.73 7.8 2,364,800 18,463,181 DFNN INC 3.05 3.14 3.05 3.05 3.05 3.05 9,000 27,450 DITO CME HLDG 2.26 2.27 2.25 2.28 2.24 2.26 1,063,000 2,400,140 NOW CORP 1.08 1.09 1.1 1.1 1.07 1.08 568,000 610,840 TRANSPACIFIC BR 0.134 0.143 0.144 0.144 0.143 0.143 110,000 15,740 ASIAN TERMINALS 15.4 15.52 15.72 15.74 15.04 15.52 203,700 3,191,568 CHELSEA 1.4 1.44 1.35 1.46 1.34 1.4 74,000 105,400 CEBU AIR 31.15 31.7 30.8 32 30.7 31.7 70,500 2,207,955 INTL CONTAINER 228 232 230 232 227.4 232 1,408,730 323,246,088 LBC EXPRESS 17.04 18.44 18.48 18.48 17.06 17.06 1,300 23,712 MACROASIA 3.93 3.95 3.9 3.98 3.9 3.95 274,000 1,074,780 METROALLIANCE A 0.51 0.56 0.51 0.51 0.51 0.51 13,000 6,630 PAL HLDG 5.15 5.2 5.1 5.2 5.1 5.2 4,700 24,270 HARBOR STAR 0.74 0.8 0.83 0.83 0.75 0.81 206,000 155,390 BOULEVARD HLDG 0.062 0.063 0.064 0.066 0.061 0.064 7,480,000 479,110 WATERFRONT 0.375 0.415 0.4 0.4 0.4 0.4 20,000 8,000 CENTRO ESCOLAR 8.3 8.8 8.8 8.8 8.5 8.5 200 1,730 IPEOPLE 6.67 7.3 6.8 7.3 6.8 7.3 5,300 37,520 STI HLDG 0.465 0.47 0.47 0.47 0.46 0.465 2,150,000 995,650 BELLE CORP 1.15 1.17 1.18 1.18 1.15 1.15 277,000 322,020 BLOOMBERRY 9.9 9.94 9.64 9.94 9.64 9.9 7,553,200 74,004,082 PACIFIC ONLINE 3.07 3.14 3.1 3.15 3.1 3.14 67,000 210,310 PH RESORTS GRP 1 1.01 0.95 1.02 0.95 1.01 3,742,000 3,730,110 PREMIUM LEISURE 0.58 0.59 0.58 0.59 0.56 0.58 6,346,000 3,625,010 DIGIPLUS 6.85 6.86 6.74 6.92 6.65 6.86 1,947,600 13,328,199 PHIL RACING 5.17 6.4 5.18 5.18 5.17 5.17 12,000 62,060 PHILWEB 1.72 1.77 1.7 1.77 1.7 1.75 158,000 270,310 ALLDAY 0.157 0.159 0.157 0.16 0.156 0.159 6,940,000 1,095,350 ALLHOME 1.11 1.12 1.1 1.15 1.09 1.12 3,559,000 3,931,260 METRO RETAIL 1.18 1.21 1.18 1.21 1.18 1.21 24,000 28,350 PUREGOLD 27 27.15 26.9 27.3 26.9 27.15 479,500 13,009,500 ROBINSONS RTL 39.3 39.5 40 40 39 39.3 168,500 6,623,580 PHIL SEVEN CORP 71.25 76.45 71.25 71.3 71.25 71.25 1,670 119,037.50 SSI GROUP 2.38 2.43 2.42 2.45 2.38 2.38 867,000 2,082,050 UPSON INTL CORP 1.6 1.68 1.6 1.6 1.6 1.6 20,000 32,000 WILCON DEPOT 19.94 20 20.3 20.3 19.96 20 271,400 5,434,165 PRMIERE HORIZON 0.163 0.164 0.162 0.175 0.162 0.163 590,000 99,300 SBS PHIL CORP 3.81 3.98 3.81 3.98 3.81 3.98 335,000 1,277,200 MINING & OIL APEX MINING 2.86 2.87 2.76 2.89 2.75 2.87 1,836,000 5,213,680 ATLAS MINING 3.31 3.4 3.31 3.31 3.31 3.31 110,000 364,100 BENGUET A 4.55 4.6 4.72 4.8 4.51 4.55 1,637,000 7,501,560 BENGUET B 3.81 4.98 4.85 5.01 4.7 4.7 187,000 882,310 CENTURY PEAK 3.1 3.15 3.1 3.15 3.1 3.15 107,000 334,880 DIZON MINES 3 3.1 3.1 3.1 3.1 3.1 25,000 77,500 FERRONICKEL 2.23 2.27 2.3 2.3 2.23 2.27 238,000 533,740 LEPANTO A 0.081 0.082 0.083 0.083 0.081 0.081 1,380,000 113,760 LEPANTO B 0.081 0.082 0.082 0.082 0.082 0.082 350,000 28,700 MARCVENTURES 1.08 1.09 1.09 1.1 1.08 1.08 1,113,000 1,216,890 NICKEL ASIA 5.03 5.07 5.13 5.13 5.02 5.07 961,500 4,851,153 ORNTL PENINSULA 0.65 0.67 0.63 0.67 0.62 0.65 114,000 71,220 PX MINING 2.98 3 2.96 3 2.95 3 565,000 1,674,450 SEMIRARA MINING 28.6 28.8 29 29 28.6 28.6 778,400 22,308,045 ENEX ENERGY 4.65 4.78 4.77 4.78 4.77 4.78 6,000 28,630 ORNTL PETROL A 0.008 0.0084 0.0081 0.0081 0.008 0.0081 17,000,000 137,200 PXP ENERGY 3.35 3.36 3.34 3.38 3.29 3.36 64,000 213,150 PREFFERED ACEN PREF A 1,020 1,040 1,020 1,020 1,020 1,020 800 816,000 ACEN PREF B 1,070 1,076 1,074 1,076 1,074 1,076 450 483,950 AC PREF AR 2,470 2,500 2,472 2,472 2,472 2,472 40 98,880 CEB PREF 31.4 32 31.4 31.4 31.4 31.4 6,600 207,240 DD PREF 91.8 92 92 92 92 92 3,360 309,120 JFC PREF B 910.5 925 910 910 910 910 50 45,500 MWIDE PREF 4 90 93.65 93.75 93.75 93.75 93.75 10 937.5 PCOR PREF 3A 970.5 980 970.5 970.5 970.5 970.5 300 291,150 PCOR PREF 3B 970 980 980 980 980 980 20 19,600 SMC PREF 2F 72.3 73 73 73 73 73 120 8,760 SMC PREF 2K 66 69.95 66 70 66 69.95 34,000 2,309,742 SMC PREF 2O 77.35 77.9 77.9 78 77.5 77.5 17,010 1,323,468

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

WARRANTS

TECH WARRANT

3.29 7.63

3.5 8.4 8.4 8.4 8.39 8.4 27,200

0.29

0.325

-1,720 23,707,985 4,495,255 -41,184,255 1,124 -80,050 -4,776,590 -60,196,795 4,954,050 -34,480 535,547 -6,859,245 25,335,238 5,100 57,351,395 -115,360 6,770,460 45,600 -119,250 28,548 -142,590 -3,250,760 168,200 4,970 -1,391,310 7,800 -268,284 -63,000.00 -7,700 -5,307,650 19,111,534 22,020 47,655,885 -1,467,750 5,070 20,317,375 -11,878,545 3,000 -848,415 -629,120 -54,340 1,477,400 1,119,275 93,226,558 401,780 10,400 4,150 680 -10,450 -39,270 4,792,211 111,720 416,460.00 314,698 -2,577,280 -8,994,205 -6,199,405 -106,925 -1,317,050 -2,695,034 457,540.00 331,740 15,500 -109,600 -1,975,165 -8,086,965 -9,540 -33,080 -94,200 -

228,360

100,680

SMALL, MEDIUM & EMERGING

0.41 0.42 0.41 0.41 70,000 28,900 1.01 1.01 1.01 1.01 155,000 156,550 0.62 0.66 0.62 0.65 108,000 67,070 0.052 0.052 0.051 0.051 720,000 36,790 33,150 1.02 1.02 1.01 1.01 406,000 410,220 240,380 0.184 0.184 0.184 0.184 10,000 1,840 -

EXHANGE TRADE FUNDS

98.65 99.3 98.4 99.3 5,370 530,516.50 -14,813

BALAI FRUITAS HAUS TALK ITALPINAS LFM PROP MERRYMART XURPAS

FIRST METRO ETF

0.41 0.93 0.63 0.052 1.01 0.184 98.6

0.42 1 0.65 0.063 1.02 0.208 99.3

www.news.businessmirror@gmail.com

Millions of ‘unfit’ monies replaced

HE Bangko Sentral ng Pilipinas (BSP) replaced over P4.5-million worth of “unfit” coins and bank notes after conducting its “Piso Caravan” in the Visayas this year. A total of 38,917 pieces of paper bills worth P2.79 million and 683,153 pieces of unfit coins worth P1.72 million were exchanged through the 24 caravans conducted in the Visayas this year. The unfit notes and coins were replaced with fresh bills or digital cash, consistent with the BSP’s Clean Note and Coin Policy, which aims to remove unfit money from circulation. “Unfit banknotes are dirty, soiled, limp, stained, or have faded print and obvious writings. Meanwhile, unfit coins are those with corrosion or markings,” the BSP explained. Most of the unfit denominations submitted for replacement were the 20-Piso banknotes at 28,284 pieces and 1-peso coins at 262,824 pieces. The caravans in the January to October period this year were conducted in the cities of Cebu, Mandaue, Tagbilaran, Dumaguete, Iloilo, Bacolod, Tacloban and Roxas. The BSP also had caravans in the municipalities of Consolacion, Dalaguete, Oslob, Siquijor and Kalibo. The central bank aims to roll out more caravans in the Visayas. Earlier, the BSP said mutilated or damaged banknotes are also accepted for exchange provided that they passed the three qualifications for redemption. These qualifications are the current size is equivalent to at least 60 percent of the original size of the banknote; the security thread is intact; and a portion of the signature of the President of the Philippines or the BSP Governor is present. Cai U. Ordinario

Banking&Finance BusinessMirror

@joveemarie

HE House of Representatives endorsed for Senate approval the proposed Motor Vehicle Road Users’ Tax (MVRUT) law, which is expected to generate about P68.19 billion over five years for the modernization of public transportation. The bill flit to the Upper House after lawmakers—voting 247 affirmative, four negative, and one abstention—approved House Bill (HB) 9647 on its third and final reading last Tuesday. The bill seeks to amend Republic Act (RA) 8794 (Motor Vehicle User’s Charge), enacted more than two decades ago, and impose a MVRUT instead. The chairman of the House Committee on Ways and Means, Rep. Joey Sarte Salceda, emphasized that the MVRUT serves as “a critical fiscal tool against traffic congestion and the overuse of the country’s road infrastructure.” Salceda highlighted that the rates for the MV user’s charge have only been adjusted once in 2004 and have not been revised for inflation in the past 19 years. The lack of adjustments since 2004 has contributed to a 26.62-percent year-on-year increase in car sales and daily traffic volumes in the NCR, according to the lawmaker.

Net subsidy

IN 2022, total MVUC collections, which accrued to the Special Road

Long El Niño seen to usher rate hike

By Cai U. Ordinario

@caiordinario

PSIDE risks to inflation, such as the prolonged dry spell or the El Niño phenomenon, could prompt the Monetary Board to raise interest rates this week.

This was according to former Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo, who said the drought could cause supply-side disruptions and increase commodity prices anew. On Tuesday, Science and Technology Secretary Renato U. Solidum Jr. said 65 provinces, or 77 percent of the country’s provinces, may experience drought next year, similar to the 1997-1998 dry spell. “We expect the prolonged dry spell, or El Niño, to hit the supply side and possibly cause an upset of

the downward spiral (of inflation),” said Guinigundo, who is also the country analyst for New York-based think tank Global Source Partners. “This could be worsened by higher transport cost and power rates as well as the anticipated minimum wage increases in areas outside [the] NCR [National Capital Region],” he added. Guinigundo said inflation this year could average close to 6 percent, significantly higher than the 2-percent to 4-percent target set by the BSP. With this, he said, it made more

sense to consider the risk-adjusted inflation forecasts of the BSP rather than its baseline forecasts. These, Guinigundo said, provide the public “a more realistic picture” of the state of inflation given various upside risks.

Easily swayed

BASED on its last policy statement, the Monetary Board’s risk-adjusted inflation forecasts remain above the target for 2024 at 4.4 percent and within the target for 2025 at 3.4 percent. “Beyond these quantitative forecasts, it is most important to realize that inflation trends could easily be swayed by the various risks intensifying in the months ahead,” Guinigundo said. The former BSP official also said that given the-third quarter performance of the economy, the Monetary Board can already “ignore” the arguments that higher interest rates could hurt the growth in gross domestic product (GDP).

In the third quarter, the country’s GDP growth rose to 5.9 percent, better than the 4.3 percent growth posted in the second quarter of the year. Socioeconomic Planning Secretary Arsenio M. Balisacan warned about the harmful effects of higher interest rates on the economy, particularly the Philippine peso (full story here: https://businessmirror. com.ph/2023/10/06/balisacancites-downside-of-possible-rateincrease/).

Steady differential

GUINIGUNDO also said while credit appears limited, this was not due to the BSP’s monetary policy decisions but mainly due to the central bank’s efforts to tighten credit standards for corporates. “A more circumspect monetary authority will choose to play it safe and keep the policy rate at 6.5 percent for the time being and at least maintain a steady differential vis-àvis the US Fed’s target interest rate. A weakening of the peso is a potential

outcome, and that could motivate another price upsurge,” Guinigudo, nonetheless, said. Earlier, the BSP said it does not consider the recent slowdown in inflation and the expected continuation of the downtrend in December to be enough reason to ease monetary policy. Inflation slowed to 4.1 percent in November, while BSP Governor Eli M. Remolona Jr. expects inflation to settle within the target range in December. These are deemed welcome developments for the country. However, it may take some time before the BSP becomes dovish. Currently, Remolona said the BSP remains hawkish and may remain that way until “early 2024,” when inflation could hit below 3 percent. Remolona said there are still risks that the BSP needs to watch out for. Monitoring these risks and preventing them from negating inflation gains is crucial, especially for the Philippines.

Insurance penetration rate dips to 1.68% Advancing Judiciary By Jasper Emmanuel Y. Arcalas @jearcalas

HE country’s insurance penetration rate in the nine months to September dropped to 1.68 percent compared to 1.81 percent as creeping inflation slashed Filipinos’ budget to spend for other products including insurance. Latest Insurance Commission (IC) data showed that the country’s insurance penetration rate from January to September fell as total premiums recorded by the insurance industry posted a tepid growth. The insurance penetration rate measures the contribution of the insurance sector to the national economy. The insurance industry’s total premium during the reference period rose by 2.77 percent year-on-year to P289.603 billion from P281.801 billion last year. R iza l Commercia l Bank ing Corp. (RCBC) Chief Economist Michael L. Ricafort attributed the drop in the insurance penetration rate to the impact of higher prices of goods and services to the Fili-

pinos’ spending priorities. “This could be attributed to higher prices or inflation that reduced spending or demand for other products such as insurance, especially those with tight or limited budgets,” Ricafort told the BusinessMirror. The RCBC executive also noted that the country’s economic growth outpaced the growth posted by the insurance industry during the ninemonth period. From January to July, the country’s economic performance (in current prices) expanded by 10.66 percent, faster than the 2.768 percent increase in the total amount of premiums registered by the insurance industry. The insurance penetration rate is derived by getting the ratio of the total premiums against the country’s gross domestic product.

Easing inflation

NONETHELESS, Ricafort argued that the recent easing trend in the country’s inflation print would provide support to lift Filipinos’ demand for insurance products.

“Easing headline inflation and faster economic growth increase the incomes and spending power of more Filipinos, thereby could also help increase demand for insurance,” he said. “More Filipinos would like to be more financially secure through higher insurance coverage, both life and non-life such as for homes, vehicles, businesses, among others,” Ricafort added. The IC earlier disclosed that the insurance industry’s net income from January to September rose by 9.37 percent to P38.28 billion from P35 billion last year as premiums collected by life and non-life insurance firms continued to expand. The IC said the combined net income of life and non-life insurance companies as well as mutual benefit associations (MBAs) expanded by P3.28 billion during the July to September period. The IC attributed the increase to expansion in the net income posted by life and non-life insurance sectors, outpacing the decline in the net income of mutual benefit associations.

Motor Vehicle Road User’s tax bill up for Senate OK By Jovee Marie N. dela Cruz

Editor: Dennis D. Estopace • Wednesday, December 13, 2023

Fund of the Department of Public Works and Highways, amounted to P19.8 billion. Salceda said the government allocated P485 billion for roads in the 2022 national budget. “Clearly, vehicle owners are receiving a net subsidy for their ownership of cars. In fact, MVUC rates have not been adjusted since 2004,” he added. “[With the approval of the bill], we expect P9.4 billion in the first year, P31.54 billion in the second year, and P52.28 billion in the third year.” Salceda said that the proposal seeks to reduce rates for vehiclesfor-hire and exempt motorcycles and tricycles from the charge. For-hire vehicles will get a 50-percent discount from their MVUC payments, while motorcycles and tricycles will be exempt, according to the bill. Citing the Department of Finance, Salceda said the implementation of the MVUC reform will have a minimal impact on public transport fares at 0.04 centavos. The proposal was identified by Malacañang as a priority measure. The approved proposal also earmarks 45 percent of incremental revenues for the PUV modernization program and 5 percent for road crash prevention programs.

Taxation plan

MEANWHILE, the schedule outlines a structured taxation plan that is set to be levied, assessed, and collected from registered vehicles, aiming to

contribute to the maintenance and development of road networks across the country. The proposed schedule categorizes vehicles based on their type and gross vehicle weight (GVW), providing a nuanced approach to taxation. The tax schedule for passenger cars is delineated based on their GVW. The proposed rates for the years 2023–2026 onward are as follows: up to 1,600 kilograms (kg) GVW—P2,080 in 2023; P2,560 in 2024; P3,040 in 2025; and 2026 onwards, a 5 percent increase. For more than 1,600 kg up to 2,300 kg GVW—P4,680 in 2023; P5,760 in 2024; P6,840 in 2025; and 2026 onwards, 5 percent increase. For utility vehicles, the tax is determined by the GVW, and the rates for the years 2023–2026 onwards are structured as follows: up to 4,500 KG GVW—P10,400 in 2023; P12,800 in 2024; P15,200 in 2025; and 2026 onwards, a 5 percent increase. The bill introduces a weight-based taxation approach for utility vehicles with a GVW of up to 4,500 kg. The rates are set per kilogram of GVW: P1.40 per kg of GVW in 2023; P2.50 per kg of GVW in 2024; P3.40 per kg of GVW in 2025; 2026 onwards: 5-percent increase.

Select few

IN voting “no,” Gabriela Rep. Arlene D. Brosas expressed concerns about the bill’s impact on ordinary Filipinos, particularly those who rely on smaller vehicles.

Brosas asserted that the core issue lies in the bill’s connection to the Public Utility Vehicle (PUV) Modernization Program initiated by the Duterte administration. Brosas argued that the bill’s primary aim is to fund a program that, in essence, works against the interests of ordinary Filipinos. While acknowledging the need to decongest roads and discourage excessive car ownership, Brosas expressed reservations about the strategy proposed in HB 9647. The bill seeks to impose higher car taxes, subject to annual adjustments. Brosas argued that this is not the most effective approach and suggests that fixing the existing public mass transport system could be a more viable solution, reducing the dependence on imported vehicles. The lawmaker emphasized the disproportionate burden it places on small vehicle owners, many of whom finance their vehicles through loans. Despite the bill offering a 50-percent discount on utility vehicles, Brosas contends that the ordinary Filipino would still bear a significant financial burden. A central point of contention for her is the allocation of 45 percent of the collections under the Motor Vehicle User’s Road Tax for the government’s PUV Modernization Program. Brosas argued that this program is designed to phase out traditional jeepneys, “concentrating individual franchises in the hands of a select few.”

Reform

E should take note and be encouraged that we have a Supreme Court that is seriously engaged in judicial reforms. These are embodied in a policy document, “A Strategic Plan for Judicial Innovations, 2022-2027,” (the SPJI) that was launched officially in October 2022. More notably, the programs and projects under the SPJI are making progress. Let me quote from the document’s Foreword: “The SPJI is a plan that demonstrates the Supreme Court’s firm resolve to perform and deliver meaningful results on the Judiciary’s fundamental function— to ensure swift and fair justice for all, finally, real-time. From the most basic processes to the most vital proceedings, Courts must perform both judicial and administrative services with responsiveness and in real-time, when people need it, when circumstances require it. Justice, if not delivered timely, or is attended by delay, is injustice.” We can hold on to this declaration of resolve. The SPJI is a plan with clear guiding principles, a definite workplan and a portfolio of projects and achievable target outcomes.” This “Smart” approach, so familiar to business managers, gives us the comfort of attainability. In celebrating the first anniversary of the SPJI last October 16, 2023, Chief Justice Alexander G. Gesmundo described “with great pride, having successfully completed several activities and key projects,” among them the Philippine judiciary online learning platform; judiciary enterprise ict governance framework; strengthened legal aid initiatives; adoption of guidelines for the use of genderfair language in the judiciary and genderfair courtroom etiquette; and, the study on gender representation and mobility in the Philippine judiciary. But we shall not dwell too long on the one-year accomplishments in this column (you may access the Supreme Court web site https://sc.judiciary.gov. ph/spji/). Let us, however, note how the private sector is complementing the Supreme Court’s efforts at judicial reform.

Finex free enterprise Santiago F. Dumlao Jr. There’s the Justice Reform Initiative (JRI) composed of business organizations moving in parallel with the Supreme Court to advance judicial reforms which particularly affect the business community. The JRI has recently conducted a Survey of public perceptions on the way the administration of justice is done. The responses to this survey are being reviewed, analyzed and interpreted through a series of consultative workshops with the participation of representatives from business, the judiciary, bar associations and other stakeholders. The results of these workshops are recommendations to the Supreme for addressing perceived and actual deficiencies to the justice administration system, to complement the SPJI efforts at reform, and better achieve the desired outcomes of efficiency, innovation and access. The Supreme Court and the JRI are working together in pursuing reforms in the judiciary. These joint efforts will converge in a Justice Summit scheduled on February 1, 2024, when the public will receive a Report of the survey results, the recommendations arising from the survey and consultative workshops, and a progress report from the Supreme Court. As a judge participating in the workshop commented, in some such words: “I have never seen such a single-minded reform-driven Supreme Court in my judiciary career.”

Santiago F. Dumlao Jr. is the Secretary General of the Association of Credit Rating Agencies in Asia and chairman of the market governance board and market policy committee of the Philippine Dealing & Exchange Corp. His views do not necessarily reflect those of the BusinessMirror’s.

Pagcor launches service caravan in Bulacan

ALOLOS, Bulacan–Christmas came early for some 3,000 locals here during the launch of a 2-day event of the Philippine Amusement and Gaming Corp. (Pagcor), the gaming regulator said through a statement. “Today, Christmas comes early to the people and the province of Bulacan because we will be giving away gifts that will last beyond Christmas–life-changing gifts because they will serve as a new beginning for our people,” Pagcor chairman and CEO Alejandro H. Tengco said during the launch at the Bulacan Capitol Gymnasium. “Ito ang kauna-unahang caravan na ating inilunsad sa ilalim ng ating pamamahala.” [This is the first caravan that we have launched under our management.] Pagcor said it has allocated P50 million for the caravan launch alone. It covers educational grants for 2,000

students, 45 sari-sari store livelihood packages, more than 4,000 bicycle units and P5-million worth of hospital equipment for the Bulacan Medical Center. There were also wheelchairs, medicines, food packs as well as reading glasses and canes for senior citizens on top of medical and dental consultations during the two-day event, read the statement issued by Pagcor. Tengco said the educational grant will cover both college and technicalvocational students who will each receive P10,000 every year. After Bulacan, the caravan will go around the country to continue providing essential services, medical assistance and livelihood packages on a quarterly basis as one of Pagcor’s major corporate social responsibility initiatives, the state gaming agency said.

Show BusinessMirror

Wednesday, December 13, 2023 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

TODAY’S Why Mariah Carey’s HOROSCOPE ‘All I Want for Christmas is You’ became so popular— and stayed that way By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Taylor Swift, 34; Jamie Foxx, 56; Steve Buscemi, 66; Wendie Malick, 73.

GROOMED

IN the midst of all the controversies surrounding a power couple’s break-up, it seems that everyone has ignored something. One of the characters in the real-life drama was groomed by a man way older than she is. The sad part is that despite this, it is the girl who was groomed who’s being blamed for what happened. There are many misconceptions about this girl, one of them being that she is a man-stealer and a flirt. She is actually a normal girl who seeks love and is quite naive. For this reason, she’s been taken advantage of many times by boys and men she loved and trusted. People say it’s because she came from a broken home and grew up with her mom, without a father figure in her life.

ABUSED BOYFRIEND

SPEAKING of break-ups, this one between a young actress and a handsome male starlet is particularly messy with accusations flying left and right. The latest tidbit is that the male starlet was allegedly a battered boyfriend and this was why he left the girl. This is also why his parents are quite protective of him. The male starlet was so in love with the young actress. In fact, he still is. His father allegedly pressured him to leave the girl because he saw how his son was so submissive and unhappy.

BIG STAR MAKES A MOVE

WHO is the star, a female, who was spotted in the network where hearts abound? The star was described as svelte, beautiful, and quite friendly. She didn’t bother to hide that it was her. According to sources, the network offered the star a project. If the project pushes through, it will be a drama starring the actress and two of the network’s hottest properties. Is the actress interested? Of course she is. She now usually plays mother roles so being offered the lead is a refreshing change. The star loves to act and being connected to the network offers a lot of possibilities.

RELATIONSHIP BALANCE

SO is it confirmed that the actress has a new boyfriend and it’s someone she works with? This is allegedly an open secret in the area where the actress and her boyfriend live. They don’t live together most of the time but the boyfriend lives with the actress when he’s in the country. Is the relationship serious? This is the actress’ first time to enter into a relationship as an adult. She entered her last one as a minor (the guy was a much older adult). So this time, the power dynamics are different. It’s more balanced.

BY DAVID BAUDE� The Assciated Press

EW YORK—If anything about Mariah Carey’s “All I Want for Christmas is You” annoys you, best to avoid shopping malls now. Or the radio. Maybe music altogether, for that matter. Her 1994 carol dominates holiday music like nothing else. The Christmas colossus has reached No. 1 on Billboard’s Hot 100 chart the past four years in a row—measuring the most popular songs each week by airplay, sales and streaming, not just the holidaythemed—and it’s reasonable to assume 2023 will be no different. One expert predicts it will soon exceed $100 million in earnings. Even its ringtone has sold millions. “That song is just embedded in history now,” says David Foster, the 16-time Grammy-winning composer and producer. “It’s embedded in Christmas. When you think of Christmas right now, you think of that song.” Yet the story behind “All I Want for Christmas is You” is not all holly and mistletoe. The song’s coauthors, Carey and Walter Afanasieff, are in a mystifying feud. The authors of a different song with the same title have sued seeking $20 million in damages. While Carey calls herself the Queen of Christmas, her bid to trademark that title failed. Every year on November 1, the song’s hibernation ends when Carey posts on social media that “it’s time” to play it again. This year’s message depicted her being freed from a block of ice to make the declaration. In both music and lyrics, the song was perfectly engineered for success, says Joe Bennett, musicologist and professor at the Berklee College of Music. And it came from an artist who was at the top of her game at the time. “All I Want for Christmas is You” works as a love and holiday song. Carey sets it up: She doesn’t care about all the holiday trappings, she has one thing— one person—on her mind. She sprinkles in specific holiday references, from Santa Claus to mistletoe.

The instruments and brisk arrangement recall Phil Spector’s 1965 album, A Christmas Gift for You, itself a holiday classic. To top it off, part of the melody slyly references “White Christmas,” Bennett says. “That was my goal, to do something timeless,” Carey explained in a recent Good Morning America interview. Billboard has produced lists of top seasonal hits since 2010, and “All I Want for Christmas is You” has been No. 1 for 57 of the 62 weeks it has run, said Gary Trust, chart director. Will Page, Spotify’s former chief economist and author of the book Pivot, estimates the song will exceed $100 million in earnings this holiday season. “By most objective measures,” Bennett says, “it’s the most successful Christmas song of all time.” As Afanasieff has told it, much of the work on “All I Want for Christmas is You” was done by him and Carey working in a rented house in the summer of 1994. The team had a history, working on Carey’s albums Emotions and Music Box. He started with a boogie-woogie piano, tossing out melodic ideas that Carey would respond to with lyrics, he said on last year’s podcast, “Hot Takes & Deep Dives with Jess Rothschild” (Afanasieff did not return messages from The Associated Press). Later, Carey completed the lyrics herself and Afanasieff recorded all the instruments, he said. Then things became complicated. Carey was married at the time to Tommy Mottola, head of Sony Music. They broke up in 1997 and her relationship with Afanasieff, who kept working for Mottola, became a casualty of that fractured marriage. Afanasieff said they’ve spoken once in more than 20 years, and it his contributions have been written out of Carey’s telling of the song’s creation. Afanasieff sounds almost bewildered by the turn of events. He told Variety in 1999 that every holiday season he has to defend himself against people who don’t believe he cowrote the song. “Mariah has been very wonderful, positive and a force of nature,” he told Variety. “She’s the one that made the song a hit and she’s awesome. But she definitely does not share credit where credit is due.” AP

Alden, Michelle, Beks bring joy to OFWs via ‘Pinoy Christmas in Our Hearts Year 2’

FOLLOWING its success in 2022, GMA Public Affairs and YouTube are teaming up anew for the second year of Pinoy Christmas in Our Hearts, an online digital series that showcases heartwarming holiday stories of Filipinos—featuring Alden Richards, YouTube vlogger Beks Batallion, and Miss Universe Philippines 2023 Michelle Dee. YouTube content creator Beks Battalion joins Alden and Michelle in bringing joy to

Overseas Filipino Workers (OFWs) by giving them a chance to experience the unique Christmas tradition in the Philippines. Alden is set to make a fan’s holiday season extra special this year. Abigail Gallosa, an OFW from Hong Kong, has been away from her family for almost five years to support her sister and mother in Cebu. To cope with her homesickness, she finds joy in being a fan of Alden. As her contract

ends, she will finally have the opportunity to surprise her sister and mother by spending the holidays with them. But, as a special treat, Alden will surprise Abigail with a ‘holi-date’ in the Christmas Capital of the Philippines—Pampanga. Together, they will create traditional fish lanterns and listen to the parish choir singing Pastorela. Beks Batallion will likewise spread love and joy to a hardworking local of Siargao. Mariel Larsen, a Pinay fruit-picker and vlogger, has been away from her parents in Siargao for almost six years during Christmas. She has been working hard in the vast farms of Australia while living in a camper van for years with her Australian husband, David, and their four-year-old son. However, Mariel has a surprise for her parents and family in Siargao—she and her family will fly home to spend the holidays on the island. To add to the surprise, Beks Battalion will be helping them build a giant Belen in Tarlac

for the annual Belenismo event. Finally, Michelle will surely paint a smile to a teenager’s face through a simple yet meaningful present. Sire Garcia, a 16-yearold boy, has a keen interest in Science and Robotics, which he inherited from his father, Jervin, who worked as an OFW in Saudi Arabia for almost 12 years. Sire was overjoyed when his father returned home on November 14, but unfortunately, Jervin had to go back abroad earlier than expected. To make up for his early departure, Jervin arranged for Miss Universe Philippines 2023 Michelle Dee to take Sire and his siblings on an adventure-filled day as an early Christmas gift. Relive the warmth of Christmas with Pinoy Christmas in Our Hearts Year 2 presented by GMA Public Affairs and YouTube, exclusively on the GMA Public Affairs’ official YouTube channel (youtube. com/user/gmapublicaffairs), beginning December 13.

HAPPY BIRTHDAY: Stick to the basics, the truth and realistic expectations this year. If you exaggerate, it will complicate matters and make it difficult for you to keep up or come through with your promises. Pay attention to your health and well-being. Staying fit through exercise and healthy eating habits will help you stay strong. Time is on your side, and honesty will ward off trouble. Your numbers are 7, 10, 14, 27, 32, 35, 48.

ARIES (March 21-April 19): Don’t overthink if focusing on physically making a difference or taking care of business will bring the highest returns. An emotional situation is best left alone until you clearly understand the problem and the possible outcome. Bide your time. ★★

TAURUS (April 20-May 20): Take your time, plan your actions and leave nothing to chance. Preparation will put your mind at ease and encourage the best results. Take advantage of any opportunity that enhances your love life, physical well-being and domestic symmetry. ★★★★★

GEMINI (May 21-June 20): Note what everyone else is doing and head in a direction that offers clear passage without outside interference. Your mission is to get things done and to bypass trivial matters that are a waste of time. ★★★

CANCER (June 21-July 22): Elaborate, and you’ll attract attention and input that points you in the right direction. Your intuition will help you navigate an obstacle course leading to your goal. Partnering with someone who shares your vision will hasten the process. ★★★

LEO (July 23-Aug. 22): The race is on, and it’s a great time to initiate your year-end preparations. Rethink your plans to match your budget and ability to get things done without wearing yourself out. Maintain balance and integrity, and peace of mind will follow. ★★★

VIRGO (Aug. 23-Sept. 22): Discuss capping how much you decide to spend on festivities, gifts and travel expenses. A change you implement should relieve loved ones instead of adding unnecessary stress. Look for practical alternatives that please everyone. Romance is on the rise. ★★★★★

LIBRA (Sept. 23-Oct. 22): Sign up for a challenge that excites you. Reach out to friends and family you rarely see to catch up and send festive wishes. Don’t make promises you can’t keep; put budget restrictions in place to avoid overspending to please others. ★★★★

SCORPIO (Oct. 23-Nov. 21): Search for financial opportunities or changes you can implement to make your life more costefficient. Upgrades and budgeting for high-efficiency items for your home will make a difference. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Don’t veer off track mentally, physically or emotionally. Keep your facts straight, your debt within reason and your plans doable. Expect pressure from outside interference, scams and sales pitches that offer unrealistic expectations. ★★★

CAPRICORN (Dec. 22-Jan. 19): Take advantage of opportunities that bring you closer to loved ones. Focus on festive events, sharing memories, attending family reunions or calling those who live too far away to visit. The information you gather today will give you a different perspective regarding future possibilities. ★★★

AQUARIUS (Jan. 20-Feb. 18): Listen, observe and size up situations before you agree to anything that may jeopardize your health, wealth or meaningful relationships. Understand the ramifications your words have before you engage in something that can easily get blown out of proportion. ★★★

PISCES (Feb. 19-March 20): Focus on what you can accomplish instead of trying to achieve the impossible. Using experience and wisdom, you must manufacture the outcome you want to achieve. A financial gain is possible if you change how you handle your investments or earn your living. ★★★★ BIRTHDAY BABY: You are inventive, sympathetic and vibrant. You are entertaining and charitable.

‘open doors’ BY JEFF GOLDSTEIN AND MATTHEW STOCK The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit

ACROSS 1 Ice cream serving 6 Recording device, for short 9 Geographic reference book 14 Broadway legend McDonald 15 “___ you awake?” 16 Under-the-table payment 17 Nonexistent meal, it’s said (In this answer, note the first 3 letters + the last 3) 19 Old-timey photo tone 20 Magazine bosses, for short 21 The “E” of HOMES 22 Tigers, wolves and such 23 ___-AFTRA 24 Stitches, as socks 26 Completed a revolution? 29 Grows up 33 “Don’t just stand ___!” 34 “Holy Toledo!” 36 Caramel-filled chocolate 37 Makes simpler 38 Lemon of 30 Rock 39 Revolting sort? 40 Kimes of ESPN

41 Sand hill 42 Buddy, in Baja 43 HS senior’s suit 45 Tons and tons 47 ___ theory (field for Judith Butler) 49 Encouraging sort of talk 50 Show off 53 Bring home 55 Softball stat 58 ___ up (formed a queue) 59 Maker of infant carriers (...first 2 letters + last 2) 61 Key pressed after inputting a PIN 62 Painter’s option 63 Risking everything 64 Singer Aguilera’s nickname 65 Lead-in to “historic” 66 Actors play them DOWN 1 Ruling at first base, maybe 2 “Squeaky” dairy product 3 Tribute poems 4 Catan resource 5 Rhyming beers 6 “Please?”

7 Curved 8 So-so 9 Not here 10 On which X marks the spot (...first 2 letters + last 2) 11 “Read my ___!” 12 Sort of 13 Blue areas on globes 18 Give a little push 22 Fastener in a folder 23 Actress known for playing “final girls” (...first 3 letters + last 3) 25 Knocks the socks off 26 Department leader 27 Binary question type 28 Extended album type 30 Bird with blue eggs 31 Mournful poem 32 One piece? 33 Short-term worker 35 Liquor in a French 75 39 Where you order kaedama (noodles) 41 Two piece? 44 Toyota pickup, or an arctic plain 46 Grand Ole ___

48 Broadcast again 50 Make a muscle bulge 51 Dryer fluff 52 2016 Rihanna album 54 Partner of willing 55 One of up to three in a Yahtzee turn 56 Cheese that may be baked 57 Road trip stopovers 59 Catchy song 60 Hustlers star, for short Solution to today’s puzzle:

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Editor: Gerard S. Ramos • Wednesday, December 13, 2023

Lessons from riding a bicycle

T Unbox something special this Christmas ’Tis the season to celebrate, and Filipinos know how to do it right. Imagine the city adorned with twinkling lights, carols filling the air, and the pure joy of unwrapping presents. Yet, beyond the gifts and festivities, Christmas for Filipinos is about unboxing what truly brings them joy—the gift of togetherness with friends and loved ones. Isn’t Christmas itself a gift waiting to be unboxed? Let Goldilocks elevate your holiday spirit with a special Christmas cake, crafted to turn the festive season into a true gift. Nothing unites Filipinos better than a table laden with delectable treats. A Christmas spread and a table centerpiece that match the flavor and spectacle of the season are a must. Unbox the goodness of the season with Goldilocks’ Merry Cherry Choco (P699). Merry Cherry Choco is a moist chocolate cake with a medley of cherry and whipped cream filling, wrapped in smooth buttercream icing and topped with white chocolate ganache. It is garnished with festive holiday toppers, all the more to underscore that warm and cozy Christmas cheer. Goldilocks’ Merry Cherry Choco cake captures the taste and essence of the holidays. With its exciting mix of flavors and a captivating burst of colors, you’ll be eager to unbox and share this mouthwatering treat with those who matter most. That’s what the holidays are all about. Unbox a reason to celebrate with friends and loved ones this Christmas. The Merry Cherry Choco is available at all Goldilocks branches starting December 1, or you can also order via GrabFood, Foodpanda, or through www.goldilocksdelivery.ph.

HE father of a good friend, Tito Ricky, started riding a bicycle as his hobby almost two years ago, and we saw how much he enjoyed riding his bicycle to the point that his siblings went with him on most of his rides. They just recently finished riding all the way to Tagaytay, which is a feat considering the numerous uphill climbs and circuitous roads. When he invited us to join him in his hobby, we reluctantly agreed. But after riding with him around the subdivision, it became clear that I will be riding the bicycle as one of my hobbies. I know how to ride a bike, but I have never learned how to use the gears of a bike. Back when I was in college, somebody gave me a bike but I could not use it because I was afraid of the city traffic, and I could not quite figure out when and how to shift gears. So, I ended up giving it away. Now that I have a new one with all the bells and whistles and an experienced biker teaching me how to use the gears, I realized how easy it is to use. What is not so easy is to determine when to change gears. He also taught us to use the back brakes when slowing down and to use the front brakes only as support. If we used the front brakes more than the back, the tendency is for the bike to topple over. He also taught us how to keep safe on the road and to always be on the lookout for any danger. I realized that just like in life, you may have every conceivable tool or advantage to make your life better than others, but if you do not know how to use them it will all just go to waste. If you do not know, ask because you might be surprised that people are more generous than you think with what they know. When we went around for the first time in our new bikes, he also taught us how to use low gear when going uphill. But to prepare for it, we had to gain momentum and then try to feel comfortable in our pedaling before switching to a lower gear. This way, we let the bicycle do the work because if we do not transition well, we will be pedaling hard all the way up. I learned that lesson the first time we went uphill and I was left behind. Instead of lecturing me, he told me to practice on gentler slopes, and then repeat going up the same slope until I get it. The important thing is to practice and be better than I was before. We went around some more and I got to practice more on changing gears. Just like in life, nothing comes to us in an instant. We need to go through things and learn from our own experiences. While there are people who will guide and instruct us, it will all depend on how much we are willing to learn.

While scouting for accessories for our bikes, we realized that you could customize your bicycle and there were so many things that you can add to your bike. You can now have a bicycle computer to monitor your heart rate, distance, and analyze your riding patterns so that you can identify which parts of the trail you had difficulty with. You can also add sonar sensors so that you will be alerted when a car is behind you. This made me realize that even with all these developments in safety and comfort, you will always go back to the basics because you cannot always be dependent on your gadgets. While we were riding, we encountered other bicycle riders who had different kinds of bicycles and varying outfits. We discovered later on that some were biking for different reasons. Some ride out for health, others because they were practicing for an audax, while some were there because it was the fad. For whatever reason they were there, everybody respected each other’s space and stayed out of their way. In life, it is the same. People do their work and engage with different kinds of people for a reason – their reasons dictate their actions and the way they relate with other people. It will depend on their motivations. Similarly, it made me think of why I want to ride the bicycle and I realized that I wanted to do it because I just wanted to have fun while trying to keep healthy. So, no matter how many pass me on that uphill climb, I am not bothered because I know I am doing it for myself.

I also realized that people are in different stages of riding and I should not pressure myself to be like everyone else. There was one time when we were going uphill and we were short of breath when someone passed us easily at full speed. It was easy to get distracted by other’s strength and skills, but I realized that I needed to accept that I am still at an early stage in my riding experience. I reminded myself that what is important is that I am enjoying myself and I have friends who are in the same journey as me. While it is helpful to have a mentor like Tito Ricky who can show us how it is done, there are other voices along the ride. Some will tell you to do things in a certain way and pressure you to ride in a certain manner. Since people are motivated by their own reasons, you need to identify which voices you need to listen to and silence the rest. Not everyone has your best intention at heart, so you need to be cautious on who to listen to. When we were buying our bicycles and the accessories for it, I saw a sticker that said, “You cannot buy happiness, but you can buy a bike and that is pretty close.” I felt this when I was trying out my bike for the first time. There is a certain liberty in feeling the wind against your face and seeing the scenery pass you by as if you were flying. There is still a lot to learn about life through biking. I am just excited that in the short time I have been riding, I have already learned a lot. This could be the start of a lasting hobby. n

Threads of tradition: Unveiling timeless elegance in North Luzon’s ‘Hibla ng Lahing Pilipino’ fashion parade By John Eiron R. Francisco FROM classic attire evolving into contemporary styles and blending traditional elements with innovation, various regions and provinces in Northern Luzon united to showcase creativity, arts and culture in the “Hibla ng Lahing Pilipino” fashion parade—a celebration of diversity and artistic expression. The “Hibla ng Lahing Pilipino” fashion parade, organized by the Department of Tourism-Cordillera Administrative Region (DOT-CAR), Region 1-Ilocos, Region 2-Cagayan Valley, and Region 3-Central Luzon as part of the second North Luzon Travel Expo, recently happened in the City of Pines, Baguio. The fashion parade featured regal fabrics from North Luzon, which showcased the artistry and diversity of Philippine textiles. It presented a vibrant array of colors, patterns and designs, capturing the unique identity and pride of every region and province. According to DOT, the fashion show served as a stage for local designers, performers and artisans to showcase their talents and expertise, fostering collaboration and mutual learning. Each participating region in the fashion show highlighted the unique “hibla” in Filipino, which means “fiber” or “thread,” and it refers to the raw material used to create textiles that symbolize the connection between the people and their culture, as well as the creativity and innovation they express through their clothing. Various types of fabrics such as cotton, silk, piña, abaca and others have been showcased that have their own characteristics, such as texture, color and pattern, which made it unique and stand out. Local designers, on the other hand, use contemporary techniques such as embroidery, applique, dyeing and printing to enhance the beauty and functionality of their clothing.

CORDILLERA WEAVES

FROM the Cordilleras, Jasmine Baac skillfully presented Bilaliktad, Silaksakaw, Kilamkam, and Gilamat weaves from

Kalinga, complemented by Eros Goze’s Kalinga weaves Dulnuan Weaving from Tabuk City that showcases their craft, with the Ifugao Nation contributing unique ikat weaves, enhancing the textures and patterns on display. The Kalinga weaves are characterized by geometric patterns, such as diamonds, triangles and zigzags, which represent their beliefs, values and environment. The Ifugao weaves are known for their ikat technique, which involves tying and dyeing the threads before weaving them, creating a blurred or fuzzy effect. Local designers added beads, and sequins to their creations, making them suitable for formal and casual occasions.

ILOCOS THREADS

Meanwhile, Region 1 is composed of four provinces: Ilocos Norte, Ilocos Sur, La Union and Pangasinan. It is known for its historical and natural attractions, such as the Vigan Heritage Village, the Bangui Windmills, and the Hundred Islands. The Abel Iloco weaves were highlighted, and are the traditional textiles of the Ilocanos, the dominant ethnic group in the region. They are made from cotton, which is

grown locally, and dyed with natural materials, such as indigo, annatto, and turmeric. They are woven using wooden handlooms, which produce fine and durable fabrics.

GADDANG THREADS OF REGION 2

TO highlight the hibla in Region 2, Mark Anthony Bernardino Baliao skillfully incorporated Gaddang weaves from Santiago City and Nueva Vizcaya. The Gaddang weaves are the traditional textiles of the Gaddang, an indigenous group who inhabits the provinces of Nueva Vizcaya and Isabela. Region 2 is composed of five provinces: Batanes, Cagayan, Isabela, Nueva Vizcaya, and Quirino. It is known for its natural and cultural attractions, such as the Callao Caves, the Magat Dam, and the Banaue Rice Terraces.

CENTRAL LUZON’S CULTURAL COUTURE

IN Central Luzon, they showcased the rich and diverse culture of its provinces through the creative designs of local couturiers and artisans. One of the highlights was the “Pidayit,” a colorful ensemble that united various clothing from different ethnic groups in the region. The “Pidayit” was designed by Philip D. Torres, a renowned fashion designer

from Tarlac who has been promoting the indigenous fabrics and crafts of his province. The “Pidayit” featured a combination of the “tapis,” a wrap-around skirt worn by women from the Cordillera region, made of handwoven cotton dyed with natural colors; “barong Tagalog,” a traditional embroidered shirt worn by men, made of piña fabric from Aklan; a “malong,” tubular cloth with various uses, worn as a sash or a headscarf, made of ikat or tie-dyed cotton from the Muslim communities in Mindanao. Piña is a fabric made from the fibers of pineapple leaves, which are extracted, washed, dried, and spun into fine threads. The piña fabric is then woven on a wooden loom, creating a delicate and translucent cloth that is ideal for formal wear. The piña clothing from Disenyo Pandi Bulacan featured intricate embroidery lace and beadwork, showcasing the elegance and refinement of Filipino fashion. Through “Hibla ng Lahing Pilipino,” the textiles transcended the realms of fashion, becoming a celebration of Filipino heritage, creativity and cultural pride. It illuminated the path where tradition and innovation coexist, weaving a narrative of style, class, and the enduring spirit of the Filipino people.

PHOTO BY IVAN CALDERON ON UNSPLASH

Wednesday, December 13, 2023

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PLDT’S PROGRAM FOR MOM ENTREPRENEURS SHINES AT 3RD UN GLOBAL COMPACT NETWORK PHL’S SDG AWARDS

REPRESENTATIVES from PLDT’s Sustainability Office and PLDT Home receive the award recognizing Madiskarte Moms PH at the 3rd United Nations Global Compact Network Philippines’ Sustainable Development Goals Awards.

HE Philippines’ largest integrated telecommunications network PLDT Inc. (PLDT) has been recognized at the 3rd United Nations Global Compact Network Philippines’ Sustainable Development Goals (SDG) Awards for its Madiskarte Moms PH (MMPH) program. Recognizing companies and programs with outstanding contributions towards sustainable development, particularly on areas of the Planet, Prosperity, and People, the SDG Awards cited MMPH for enabling digital inclusion among women, promoting decent work and economic growth, and supporting the recovery and resilience of micro, small, and mediumsized enterprises (MSMEs). “We are happy and proud to receive this recognition for PLDT Home and MMPH. This initiative demonstrates our

continuing thrusts to embed sustainability in the way we do business and promote digital inclusion in support of achieving sustainable development,” said Melissa Vergel de Dios, FVP and Head of Investor Relations and Chief Sustainability Officer at PLDT and Smart. MMPH is an online community founded by PLDT Home in September 2020 with a group of Filipino mom entrepreneurs (mompreneurs). Statistics show that about 33 percent of Filipino women lost their jobs at the height of the pandemic. MMPH fostered an active community that helps women find alternative sources of income, use digital tools to their advantage, and continuously exchange ideas and share experiences about running home-based and online businesses.

Three years since its launch, MMPH now has 170,000 community members. It has trained more than 15,000 moms, supported at least 75 businesses through the provisioning of digital kits, conducted at least 11 regular webinars and masterclasses, and produced over 160 educational videos about several areas of doing business sustainably and responsibly. MMPH has also been recognizing outstanding mompreneurs through its Annual Gawad Madiskarte Awards and active participation in various public fora and engagements. “Our goal is to help upskill Filipino moms on how to start and grow their homebased businesses and empower them to succeed in their entrepreneurial journey, while also providing them access to digital solutions and tools,” said Cheryl Maxine Loyola, Assistant Vice President, PLDT Home Marketing, PR, Influencer Management and Brand Advocacies. PLDT Home and MMPH continue to support mompreneurs and their employees to rise above poverty and achieve prosperity through digital inclusion and empowerment. “We believe that women can achieve financial security by becoming entrepreneurs so that they can further empower their families to achieve their dreams,” added Loyola. MMPH supports PLDT and Smart’s continuing contribution to the United Nations SDGs, particularly SDG 1: No Poverty, SDG 3: Gender Equality, and SDG 8: Decent Work and Economic Growth. It also aligns with PLDT’s broader goal to promote inclusive technologies that can help boost livelihood opportunities among Filipinos, leaving no one behind.

Parokya ni Edgar to spark Batangas’ Holiday Season with a Concert at Batangas Lakelands

ET ready to rock your way into the yuletide season with a spectacular event that will set your soul on fire. Batangas Lakelands and Traverse Entertainment are thrilled to announce the highly anticipated concert, “Parokya ni Edgar Live at Batangas Lakelands,” an unforgettable night featuring one of the country’s most iconic rock bands of all time, Parokya ni Edgar. Known for their hit songs, “Harana,” “The Yes Yes Show,” and “Bagsakan,” among many other alternative rock classics, Parokya ni Edgar is set to light up the stage with their unique brand of music and energy, providing nothing but pure entertainment. Slated for Saturday, December 16, 2023, this electrifying event will take place at Batangas Lakelands, a mesmerizing, 20-hectare event destination and active-lifestyle park nestled in the heart of Balete, Batangas. To be hosted by actor and commercial model Apollo Abraham, and directed by Jom Lirios, this unforgettable evening will also feature special guest performers such as Lucas Garcia, Taylor Sheesh, Lunar Lights, Bea Mae Sacramento, Luke Daniel, James Andrew, Fumiya, and the FAITH Colleges Dance Company. The concert, labeled as a 3-in-1 event, will also include a bazaar and a food festival, promising to delight thousands of attendees. To make the event more accessible to fans, the organizers are extending their exclusive early bird rates for tickets, allowing everyone to be a part of this magical night: Platinum

Tickets: P1,800 (originally P2,500); Gold Tickets: P1,000 (originally P1,500); Silver Tickets: P500 (originally P1,000) For a limited time only, all purchased tickets will include a complimentary food voucher worth P200. And for the convenience of Metro Manila fans planning to commute on concert day, special tickets that include a shuttle ride from SM Mall of Asia to Batangas Lakelands and vice versa are also available for a minimal fee. Not only that, when you purchase a ticket, you also get to help others. All ticket proceeds from the concert will be donated to the Marian Orchard FAITH Foundation Inc. So, don’t miss this chance to be a part of the most anticipated holiday concert of the year! Mark your calendars and join us to experience the joy of live music, the thrill of rock and roll, and the enchantment of the holiday season, all in one extraordinary evening. “Parokya ni Edgar Live at Batangas Lakelands” is organized by Batangas Lakelands and Traverse Entertainment and is sponsored by Diwa Learning Systems, FAITH Colleges, Fastech Synergy Philippines, GameX, Limapark Hotel, Magnolia Chicken Timplados, and Pocari Sweat. Tickets are now available on TicketWorld or on Batangas Lakelands’ official website www. batangaslakelands.ph. You may also contact 0917-8527735, 0917-8691619, 0917-8691640, or send a message to @batangaslakelands on Facebook or Instagram.

BELEN IS FAMILY, LOVE OF FAMILY IS LOVE OF COUNTRY. The Folklorico Fiilipino dance troupe pose with Tarlac Heritage Foundation co-founder Dr. Isa Suntay and Philippine Army Commanding General Lt. Gen. Roy Galido and high ranking army officers with the new graduates of the Army Training and Doctrine Command Officers Candidates Course GL 60-2024 inside the TRADOC Headquarters in Camp O’Donnel, Capas, Tarlac before the start of tour of Officer Candidate students of TRADOC December 5, 2023 to areas where the Belen is displayed around Tarlac province. The tour goal is to raise an awareness of the importance of soliciting genuine PPP among civilian stakeholders for partnership with Army units CMO programs. And to develop analytical skills of future officers in screening and developing long lasting stakeholder community partnerships in their AORs which come at no cost to the Army. BERNARD TESTA/BM

IN the photo are, from left, Globaltronics Managing Director Jesus Cabalu; Globaltronics Chairman and CEO Mr. William T. Guido; Trade and Industry Secretary Alfredo Pascual, and Joel Santos of Thames International during Globaltronics 20th Anniversary Gala

Globaltronics celebrates 20th anniversary with night of celebration, gratitude, hope

N November 10, 2023, Manila’s most iconic hotel, the Manila Hotel, served as the perfect backdrop for Globaltronics’ 20th Anniversary Gala. Emerging as a beacon of innovation in digital displays, Globaltronics transformed the skylines of cities throughout the country, pushing boundaries and reimagining what was possible in the realm of LED billboards and commercial displays. During the celebration, Globaltronics Founder and CEO William T. Guido shared

his joy and gratitude as he was surrounded by the Guido Group of Companies’ leaders, esteemed guests, and business partners. In his speech, Mr. Guido expressed his sincere gratitude to everyone who had contributed to the company’s success over the past two decades. The gala event was attended by highprofile personalities, including Donald Lim, Havas Jos Ortega, former Senator Joey Lina, Manila City Administrator Bernie Ang, Trade and Industry Secretary

Alfredo Pascual, Migrant Workers Undersecretary Venancio Legaspi, Embassy representatives from China, US, Canada, and top corporations such as Ayala and SM among others. The evening was a celebration of love, hope and music, with dazzling performances from EL Gamma Penumbra, Manila Philharmonic Orchestra, Ballet Philippines, Gerphil Flores, Corey Kho, Solid Water, and PARCaralan scholars. The gala raised funds for the Performing Arts and Recreation Center (PARC) foundation and its PARCaralan scholarship program. “I am humbled and grateful for the support and encouragement that Globaltronics has received over the past 20 years. Our work would not have been possible without the dedication and commitment of our employees, partners, and stakeholders. Together, we have achieved great things, and I am committed to taking Globaltronics even further in the years to come,” Guido said. The gala was a resounding success, with attendees praising the event as a celebration of the best of the Philippines and a demonstration of Globaltronics’ commitment to sustainability, innovation, art, and music. “This gala marks a significant milestone in Globaltronics’ journey, and I am proud to be part of a company that has such a positive impact on the world. We will continue to innovate, create, and make a positive contribution to our community and the planet,” Guido concluded.

IN the photo from left are Atty. Joy Pesquera, Angelli Suzanne Lua-Domingo, and Alfred Reyes

It’s a Time of Joy at bai Hotel Cebu’s Tree Lighting, 6th year anniversary

HE holiday season has officially kicked off at bai Hotel Cebu with a spectacular Tree Lighting ceremony held in the hotel’s grand lobby. It was a happy moment that filled the air with joy and excitement as guests gathered to witness the lighting of the towering Christmas tree. The event was a true spectacle of lights and colors, marking the start of the most wonderful time of the year in style. With this grand celebration, bai Hotel Cebu has set the tone for a spectacular holiday season full of merriment and cheer. Their iconic Christmas tree is adorned in cool hues of blue and gold, symbolizing bai Hotel Cebu’s identity and brand. This bai service redefines Cebuano hospitality to a world-class level as they celebrate their six years in the hospitality industry. Among the performances of the night were musical numbers ranging from popular Christmas songs to Broadway favorites from the acapella choir group Los Cantantes Cebu, and Tawag ng Tanghalan Season 1 Grand Finalist and Duets Grand Champion with JM Dela Cerna, Marielle Montellano makes a comeback at the bai’s halls and serenade guests with her stellar singing voice. bai Hotel Cebu’s Christmas Tree was officially lit by invited Cebu City Tourism Commission Chairwoman and Cebu City Councilor Atty. Joy Pesquera, bai Global

Properties President Angelli Suzanne Lua-Domingo, and Vice-President of Operations and General Manager Alfred Reyes. The Tree Lighting was followed by the celebration of the hotel’s sixth anniversary at their Lapu-Lapu Grand Ballroom. It was well attended by the hotel’s special guests, regular clients, and media, among others. The night also celebrated the accounts and companies who have helped and contributed to bai’s success for the year 2023. bai Hotel Cebu has always been at the forefront of giving back to the community. As part of its annual tradition, they have been collecting funds for its chosen organization, Kythe Foundation Inc., a Philippine-based organization that provides opportunities for children with cancer and other illnesses to learn, play, and grow in the hospital through its Child Life Services. The event ended with a celebration toast of bai Hotel Cebu’s management team headed by bai Hotel Cebu’s general manager since it opened in 2017, Alfred Reyes. For more information on bai Hotel Cebu’s offers, you may call them at (032) 342 8888 or check out their Facebook page at bai Hotel Cebu. bai Hotel Cebu is a hotel in Mandaue City, Cebu located just 15 minutes near the airport.

BusinessMirror

Editor: Tet Andolong

Wednesday, December 13, 2023 B7

Banyan Tree: A game changer for luxury travel

By Rizal Raoul S. Reyes

ourists whether foreign or local who want to experience the ultimate luxury in travel and leisure in Central Luzon are going to get the real deal as major Asian hospitality group Banyan Tree is set to debut its first resort in the Philippines within the sprawling 450-hectare Hann Reserve project in New Clark City, Tarlac. “Hann Reserve is a game changer for luxury travel in the Philippines. With the breathtaking beauty of New Clark City as our backdrop and the synergy of Hann Resorts with Banyan Tree as the driving force, we are proud to present a landmark development that offers an unparalleled golfing and leisure experience for discerning travelers of all kinds,” explained Dae Sik Han, Chairman and CEO of Hann Philippines in a press statement. Han said the company is estimated to invest P17 billion in the first phase of Hann Reserve, which includes Banyan Tree and the first of three golf courses, a mountain course by world-renowned Nicklaus Design. Envisioned to become the ultimate luxury sanctuary north of Metro Manila, Banyan Tree and Hann Resorts recently broke ground for the property onsite at the Hann Reserve master-planned luxury lifestyle integrated resort. Slated to debut in 2026, the highly-acclaimed Hann Reserve is situated within a 15-minute drive from the newly developed Clark International Airport and a convenient two-hour drive from Manila. Moreover, the estate project is perfect for golfing aficionados as it will feature exclusive Professional Golf Association

-affiliated player development facilities alongside three 18-hole championship golf courses, clubhouses, a mixed-use commercial centre, premium villas and residences, a 10-hectare public park, and a collection of luxury resorts. Han pointed out that Hann Resorts is the brand of luxury integrated lifestyle resorts owned and operated by Hann Philippines Inc., a South Korean-led investment firm boldly leading the highend integrated lifestyle resort sector in the Philippines today. It currently has two developments: Hann Casino Resort at Clark Freeport Zone, Pampanga and Hann Reserve. Eddy See, CEO of Banyan Tree Group, expressed his excitement about being part of the Philippines’ newest ultra-luxe leisure destination. “Although people associate the Banyan Tree with luxury, one of the key things that is very important is the sense of emotion—the sense of feeling connected to the place through experiences that evoke memories that you will always remember for many years to come. Sense of place is a very fundamental concept for any Banyan Tree development, and we have found it in Hann Reserve,” he said. Nestled in the lush greenery of Tarlac, the luxury property will feature 50 high-

Filinvest Land tops off residential tower in Pasig

FILINVEST Land, Inc. (FLI) tops off on time Building P of its Sorrento Oasis residential mid-rise tower in Barangay Rosario Pasig City. Gracing the ceremony are key FLI officials led by (third from left) Alexis C. Ojeda, first vice president (FVP) and key business area sales head; Olivia Gelizon, geographical project manager; Aven V. Valderrama, FVP and brand and product head; and (second from right) Jose L. Berenguer III, NCR East sales head.

By Roderick L. Abad

EAL-estate company Filinvest Land, Inc. (FLI) topped off as scheduled the tower of its Sorrento Oasis residential mid-rise building (MRB) in Pasig City. “We are excited to have realized this on-time achievement with the top-off of Sorrento Oasis Building P. This reflects our commitment to delivering quality properties in prime locations, making these an excellent choice for prospective buyers in urban areas. Sorrento Oasis’ strategic location translates into an attractive investment opportunity for Filipinos looking to own their own home,” Aven V. Valderrama, FLI first vice president, MRB brand and product head, said in a ceremony held in Barangay Rosario. This vertical residential project forms part of Aspire by Filinvest’s growing portfolio of low-density mid-rise condo communities nationwide, featuring amenities that embody FLI’s commitment to Dreams Built Green—building developments that are Green and promote Health and Life Tech. For instance, it dedicates 60 percent of its property to breathable spaces and resort-inspired amenities, like swimming pools, club-

houses, play parks, and green corridors, among many others. Sorrento Oasis offers internet-ready units that come in two- and three-bedroom layouts sized between 29.87 square meters (sq m) and 42.7 sq m, costing between P4.32 million to P5.81 million. Strategically located along Pasig City’s highly accessible C. Raymundo Avenue, it offers a life of ease and convenience, with landmarks such as Sto. Rosario de Pasig Church, Caltex C. Raymundo, and The Medical City, all within a 3.5-kilometer radius. With its prime location being the City of Pasig—one of Metro Manila’s fastest-growing economies—it’s worth investing in Sorrento Oasis. The local government unit led by Mayor Vico Sotto reported higher investments and expanded business transactions at the start of the year, with January 2023 capital investments at P21 billion, up from P134 million in the same period last year. For more details, visit https://aspirebyfilinvest.com/project/sorrento-oasis or schedule a project presentation, site visit or virtual tour at https://marketing.filinvest.ph/salesappointment?brand=Aspire.

Artist’s illustrations of the envisioned villa suites in Banyan Tree New Clark City at Hann Reserve.

Hann and Banyan Tree officials during the groundbreaking ceremony. From left: Hann Hotels Vice President Tarek Aouini; Hann Philippines Vice President for Real Estate and Property Development Neki Liwanag; Accor Vice President for Development Chris Cho; Banyan Tree Senior Vice President Philip Lim; Bases Conversion and Development Authority Chairman Delfin Lorenzana; Banyan Tree CEO Eddy See; Hann Philippines Chairman & CEO Dae Sik Han; Bases Conversion and Development Authority President Joshua Bingcang; Raffles Fairmont Cluster General Manager Bernd Schneider; Ennismore Senior Vice President Francois Baudin; Accor Senior Vice President of Operations Sylvain Pasdeloup; Tarlac Governor Susan Yap.

end pool villas in one- and two-bedroom configurations, designed in Banyan Tree’s signature nature-integrated style. The spacious 106-sq-m villas will combine alfresco relaxation areas with plunge pools, sun decks, and inviting indoor living spaces, and offer access to leisure facilities including a central swimming pool, health club, and tropical garden spa featuring the signature rainforest hydrothermal experience. A Banyan Tree Gallery will retail local and handmade crafts, and there will be dedicated event spaces and dining options that include the group’s award-winning Thai restaurant, Saffron. “The design of Banyan Tree New Clark City revolves around principles that are ecological yet naturally luxurious, where we express our respect for the local environment through creative design, architecture and green building practices. We also preserve the cultural integrity of the land and its people by exerting conscientious effort to preserve indigenous flora and fauna,” said Hann Philippines Vice President for Real Estate and Property Development Neki Liwanag.

Charting the future of holistic work environments

n the landscape of modern office spaces, there’s a transformative shift underway. The modern workforce, defined by their hunger for knowledge and driven by unbridled ambition, seeks more than just four walls and a Wi-Fi connection. They yearn for environments that stimulate growth, foster collaboration, and prioritize holistic well-being. At the forefront of this transformation is SM Offices, the commercial property development and management arm of the renowned SM Prime Holdings Inc. (SM Prime). Rather than just reacting to the change, SM Offices is a catalyst that recalibrates the very ethos of workplace experiences to resonate with today’s fast-paced and demanding world. SM Offices sets itself apart with its visionary approach. Deep within the designs they’ve brought to life, which are renowned for their perfect blend of sustainability, disaster resilience, and strategic urban placements, is a holistic philosophy that aims at crafting nurturing environments that truly echo the aspirations and requirements of contemporary professionals. Recognizing this paradigm shift in expectations, SM Offices has interwoven the principles of employee well-being, satisfaction, and deep engagement into the core fabric of their developmental approach. It continuously prioritizes tenant-partners and employees by adhering to their needs after carefully listening and engaging with them. As stated by Alexis Ortiga, SM Prime’s Commercial Properties Group Vice President, SM Offices has begun providing employee-centric services that address various needs, such as ESG-sensitive office solutions, green outdoor spaces and sports facilities that promote health and well-being, and retail conveniences that make the transition from home to work seamless and fun. SM Offices’ holistic philosophy is very much evident in their initiatives. For instance, in collaboration with the Philippine Mental Health Association, they recently held a wellness activity for their tenants in celebration of World Mental Health Day, wherein participants from various companies kicked into high gear in a cardio-boxing session, enjoying the backdrop of a Manila Bay sunset.

SKY Garden SM Offices also held a gala event in celebration of the Halloween festivities. Beyond mere entertainment, this initiative has been designed to be a cultural get-together. Packed with puppet acts, magic shows, and a variety of games, it aims to transform routine office activities into cherished experiences that foster community bonding. Even so, the vision of SM Offices extends well beyond these festivities as it keeps to heart its thrust for a well-balanced lifestyle. In line with living a healthy and active routine, OneEcom Center boasts of a basketball, badminton, and volleyball courts at the top floor, which are bookable on-line and readily available for the enjoyment of E-com tenants and employees in the Mall of Asia Complex. SM Offices also begins to schedule eclectic night gigs at the illustrious Prism Plazas, blending harmonious music with an array of gourmet culinary delights, and “destress hours,” offering tranquil pockets of relaxation and rejuvenation amidst the demanding rigors of work. “Our collaborations extend to other SM Prime affiliates, curating a unique suite of benefits designed to augment the workplace experience,” Mr. Ortiga added. “From exclusive privileges to tenant-partner appreciation events, our intent is unequivocal—to nurture a profound sense of community and mutual growth.”

In terms of expansion, SM Offices’ portfolio of properties continues to sprout in the metro. The recently-launched LEED Gold certified Mega Tower, an elegant S-shaped 50-story skyscraper in the Ortigas Central Business District, stands as SM Offices’ tallest skyscraper to date. Another structure launched a few months ago is the FourE-com Center’s South Tower in the MOA Complex. Pre-LEED Gold certified FourE-com Center, with its three 15-story towers, spans an estimated 100,000 square meters of leasable area. Apart from the workspace, it boasts a range of dining options and a serene courtyard garden podium that serves as a plaza offering breathtaking views of Manila Bay. The construction of SixE-com Center, likewise, is in full swing and is poised to be the latest addition to MOA Complex’s E-com Series by 2026. Amid a dynamic blend of shifting needs and aspirations in the contemporary workplace, SM Offices stands tall, not just as a participant but as a visionary leader. Their harmonious meld of architectural prowess, unwavering commitment to sustainability, and a deep-rooted focus on employee well-being sets them apart. “We don’t just build office spaces; we craft ecosystems where ambition meets opportunity, sustainability partners with growth, and every employee feels valued,” Mr. Ortiga said.

Sports

POC gives cash bonuses to Asian Games medalists during jolly General Assembly

BusinessMirror

B8 | W

ednesday, December 13, 2023 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

The Purge: PGA suspends Rahm T

who moved up on the career money list and were able to use one-time exemptions to keep full status. This year, Hughes narrowly missed out on the top 50. He kept his 51st position through the fall, which only would have guaranteed him spots in the first two $20 million events. Now

T the Canadian can count on the likes of the Wells Fargo Championship in his home residence of Charlotte, North Carolina. Alex Smalley goes to the No. 60 spot and now is assured of two $20 million events. The changes also affect Paul Haley, who moves to No. 150 and now has at least conditional status. And it could effect Sahith Theegala. He finished No. 31 to narrowly miss the Tour Championship. He moves up to No. 30, which could make him exempt for the US Open. This year, the US Open recognized the top 30 who were eligible. The movements were allowed because the new season has not started. If more PGA Tour players leave for LIV before the end of the year, that could lead to more changes. Social media had been buzzing about the possibility of Tony Finau— he and Rahm are close friends— also leaving for LIV. Finau took to Instagram on Monday night that recapped his year and said he was “looking forward to playing my 10th season on the PGA Tour.” “See y’all in Maui!” he concluded, adding the hashtag, “imnotleaving.” Monahan also said in the memo that the policy board and management recently met with a group of players upset that signature events will offer disproportionately more FedEx Cup points than the other events, leading to concerns it will be difficult for players outside the top 50 to fairly compete. Monahan said the board will review how the new system is working in June and evaluate whether changes are in order for 2025. AP

HE Professional Golfers Association (PGA) Tour has notified Jon Rahm he has been suspended for signing with Saudifunded LIV Golf, a formality that is more about the benefits to the players Rahm leaves behind. Mackenzie Hughes and Carl Yuan are the immediate beneficiaries of Rahm’s decision last week to sign with the rival league. PGA Tour Commissioner Jay Monahan in a memo to players Monday afternoon said Rahm’s suspension “due to his association with a series of unauthorized tournaments” removes his name from the FedEx Cup eligibility points list. That means Hughes goes from No. 51 to No. 50, and now is eligible for all seven of the $20 million signature events in 2024. It also means Yuan, who was signed up for Q-school this week, moves up one spot to No. 125 and has a full PGA Tour card for next year. The tour last year distinguished between the FedEx Cup standings and a separate list related to eligibility for the postseason and for status. The distinction was so players defecting to LIV would not have a negative impact on those who

stayed behind. Among those who benefited last year were Rickie Fowler, who got into the postseason because of all the players who left for LIV; and Jimmy Walker and Rory Sabbatini,

Pinoy Strong 100 focuses spotlight on natl athletes

HE spotlight focuses on national athletes when the Department of Tourism-backed Pinoy Strong 100 goes full blast next year. The sports reality TV show— hosted by celebrity mixed martial arts fighter Mark Striegl—aims to determine the strongest Filipino from all walks of life, regardless of age, gender or social status. “Pinoy Strong 100 is not just about showcasing physical strength. It also aims to highlight the cultural heritage and the best of the Philippines’ islands and destinations,” co-producer Allan Majadillas of One-Of-A-Kind Asia told Tuesday’s Philippine Sportswriters Association Forum at the VIP Lounge of the Rizal Memorial Sports Coliseum in Manila. The first selection event was held over the weekend at the Skyranch in Tagaytay City in coordination with the Philippine Olympic Committee (POC), featuring national athletes from

JON RAHM (left) with LIV Golf Commissioner and CEO Greg Norman. AP

various national sports associations. Athletes from the Philippine Canoe Kayak Dragonboat Federation (PCKDF) topped the tryout with Jobert Penaranda and Ojay Fuentes going 1-2 and Mylene Matias of Kurash came in third and Roger Kenneth Masbate, also of PCKDF, fourth. Sixty from judo, obstacle sports, taekwondo, muay thai, kurash, wrestling and canoe-kayakdragon boat went through various challenges, including burpees, dumbbell thrusters, medicine ball throws and pull-ups in the selection held in coordination with the POC. “We will have challenges to determine the strongest of them all. We will squeeze the physical and mental toughness out of the participants,” said Striegl in the weekly forum supported

Kaya FC Iloilo bags Copa Alcantara trophy

AYA Football Club Iloilo held its nerve in the penalty shootout to outlast Davao Aguilas-UMak and wrest the 2023 Copa Paulino Alcantara before a big Saturday night crowd at the Rizal Memorial Stadium. Midfielder Justin Baas converted his spot kick to complete a 4-3 shootout win and ran into the waiting arms of teammate Quincy Kammeraad as Kaya celebrated a third Copa title after victories in 2018 and 2021. Despite its advantage in depth and experience, Kaya needed to overcome a gritty Davao side that was

making a comeback after four years of absence in the Philippine Football Federation’s flagship tournament. Yannick Tuason’s header gave Davao a shock lead in first half stoppage time only for Arnel Amita to equalize in the second half. Tuason glanced home a free kick from Paolo Bugas but Amita tied the match in the 65th minute sneaking from behind to take the ball away from Davao goalkeeper Dini Outtara before firing into an empty net. Even with numerous opportunities late on and in extra time, Kaya could not finish off Davao

which showed superb spirit to send the match into a shootout. In the end, Davao’s run did not get its fairytale ending as Kaya rose to the challenge in the shootout where Davao also took the early advantage. But Kammeraad’s heroics highlighted by saves on Tuason and Serge Kaole’s efforts put Kaya on the front foot. It also helped that Abou Sy, Daizo Horikoshi and Jovin Bedic converted their penalty kicks. There were still tense moments in the fifth round of the shootout as Ouattara initially saved Baas’ spotkick only for referee Meliton

Lakers battle-ready THE new In-Season tournament of the National Basketball Association (NBA) has ended on a high note for two reasons. One, Los Angeles being the winner could be indicative of the Lakers being strong contenders again in the NBA championship for the 23-24 season that winds down in June next year. Two, Anthony Davis and LeBron James powering the Lakers to victory has reestablished their stature as one of the league’s most lethal duos—if not the deadliest. Their consistency in the tournament keyed the Lakers’ 7-0, win-loss romp, capping their razor-sharp finish by masterminding a 123-109 rout over the hapless Indiana Pacers in a finals bereft of heart-stopping thrillers.

It was virtually a Davis & James Show, as in an Everly Brothers Show, or a Peter and Gordon Show, or a ReyCard Duet act, if not a Punch & Judy Show. In LA’s title-clincher of a win over Indiana at T-Mobile Arena in Las Vegas, Nevada, Davis exploded with 41 points, grabbed 20 rebounds, blocked 4 shots and stole 5 times in the

CELEBRITY mixed martial arts fighter Mark Striegl (center) with Allan Majadillas (left) and Christine Majadillas.

Pelayo to order a retake as the Davao goalkeeper was off his line before the shot. Baas made no mistake on the second opportunity, confirming Kaya’s status as the country’s top club. Philippine Football Federation president John Gutierrez and Executive Committee member Lovely Tabada handed out the individual awards to Davao’s Paolo Bugas (best midfielder), Kaya’s Simone Rota (best defender), Kaya’s Abou Sy (best striker), Kammeraad (best goalkeeper) and Kaya’s Daizo Horikoshi (Most Valuable Player).

HE Philippine Olympic Committee (POC) awarded a total of P10.6 million to medal winners in the Hangzhou 19th Asian Games during Tuesday’s General Assembly at the East Ocean Palace Restaurant in Parañaque City. “It was a General Assembly where the POC family came together in joy and camaraderie…full of Christmas spirit,” POC president Abraham “Bambol” Tolentino said. “We didn’t discuss any topic, but just giving the incentives and hosting our Christmas Party.” The Philippines won four gold, two silver and 12 bronzes for a total of 18 medals in Hangzhou. Personally receiving their incentives were jiu-jitsu gold medalist Annie Ramirez, who banked P1 million, and boxing silver medalist Eumir Felix Marcial, who received P500,000. POC athletes commission Nikko Huelgas head received for pole vault champion and record holder Ernest John “EJ” Obiena his P1 million

check, while her fellow jiu-jitsu athletes got Meggie Ochoa’s bonus. Members of the gold medalwinning men’s basketball team each got P200,000 with Magnum Membrere, a member of the MVP Group, symbolically receiving the check. Wushu’s Arnel Mandal also got P500,000 for his silver while Patrick King Perez (poomsae), Patrick Coo (cycling), Sakura Alforte (karate), Kaila Napolis (jiu-jitsu), Erleen Ann Ando (weightlifting) and wushu’s Jones Inso, Gideon Padua and Clemente Tabugara of wushu were rewarded P300,000 each. Alex Eala got P450,000 for her bronze in women’s singles and mixed doubles (P150,000) of tennis with Francis Casey Alcantara. Sepak takraw’s Jason Huerte, Rheyjey Ortouste, Vince Torno, Mark Joseph Gonzales, Ronsited Gabayeron and Jom Lerry Rafael received P200,000 each for their two bronze medals in men’s quadrant and regu of sepak takraw.

PHILIPPINE Olympic Committee president Abraham “Bambol” Tolentino (fourth from left) awards Asian Games jiu-jitsu gold medalist Annie Ramirez (third from left) her P1M cash bonus. With them are (from left) Nikko Huelgas, Richard Gomez, Cynthia Carrion-Norton, Pearl Managuelod, Dr. Raul Canlas and Wharton Chan.

Private sector backs Batang Pinoy, PNG

HE Philippine Sports Commission (PSC) partnered with the private sector for the simultaneous staging of the Batang Pinoy (BP) and Philippine National Games starting on Sunday. Among the PSC’s partners

by the Philippine Sports Commission, Philippine Olympic Committee, Philippine Amusement and Gaming Corp., San Miguel Corp. and Milo. The succeeding selections, which will be opened to the public, will be held in Cebu and at BGC in Taguig in January to complete the 100 participants in the one-of-a-kind reality TV show. The top 100 qualifiers will be brought to different tourism destinations to undergo challenges to determine the strongest Filipino, or Filipina, for the show’s first season. “This campaign celebrates the Filipino people and their incredible strength. We invite all Filipinos to join us in this inspiring search for the Pinoy Strong 100 and to witness the beauty of our culture and the strength of our people,” added Christine Majadillas, CEO of One-of-a-Kind Asia. One of A Kind Asia is a renowned sports and tourism production company committed to showcasing exceptional stories of athletes and tourism destinations in the country and producing high-quality content.

are Milo Philippines and Otsuka Solar-Pocari Sweat, along with the Philippine Basketball Association, PLDT and Smart Communications, Grab, Chooks To Go and Shakey’s Philippines. “This collaboration is a testament to our commitment in nurturing the next generation of athletes,” PSC chairman Richard Bachmann said. “With the combined efforts of the PSC and our esteemed private partners, we are confident that the games will leave a lasting legacy, inspiring athletes and fans alike.” “As a former athlete, I am delighted with the overwhelming support from our private sectors in helping us elevate the playing field of our future national stars,” he added. A combined 18,000 athletes are vying in the BP and PNG that feature competitions in 26 sports. The PSC also thanked De La Salle University, DragonSmash Makati, SM Mall of Asia, Ayala Malls and the PNVF Sand Courts for lending their facilities for futsal, badminton, dancesport, arnis, pencak silat, table tennis and beach volleyball, respectively. “The infusion of private sector expertise, resources and support will definitely contribute to creating a more immersive and memorable experience in every competition venue and billeting areas from start to finish,” PSC executive director Paulo Tatad said.

MEMBERS of Kaya FC Iloilo celebrate their third Copa Paulino Alcantara trophy.

Lakers’ parsimonious win that also saw James score a doubledouble of 24 points and 11 rebounds to go with four assists. The coronation was highlighted by James emerging as the tournament’s Most Valuable Player, can you believe that? The win gave Los Angeles a big boost to its NBA campaign this year as its 18th NBA crown—adding its 17 regular NBA titles—is proof yet again that it is battle-ready for the rough and tough grind ahead. Seemingly, the team’s only obstacle now is, God forbid, an injury hitting either Davis or James. Any one of them succumbing to ill health always spells doom to the most popular team in the world’s No. 1 cagefest. And it’s all happening with Father Time playing favorites this time—James being already, supposedly, past his prime. For, isn’t he 38 now, and turning 39 this month? Kid me not, fellas, but this is basketball, where dudes past 35 are deemed over the hill already.

If James isn’t an engineering marvel, what is he? A lab project, maybe, as in the mold of Frankenstein? OK, let’s go back to home soil for a change. I’m not superstitious but did De La Salle not win the University Athletic Association of the Philippines men’s basketball crown after losing Game 1 to the University of the Philippine and next sweeping the last two games in the best-of-three series? Now look at this. San Beda also lost Game 1 to Mapua, and then won Game Two on Sunday to force a Game Three decider on December 17 for the Nationa Collegiate Athletic Association men’s basketball crown. What does that say? I’m not saying a word. THAT’S IT Happy birthday to my buddy, Abel Manliclic, a chief investor at Tiong Bahru, the restaurant chain that serves the best Hainanese chicken in town. Cheers!