BusinessMirror December 21, 2023 by BusinessMirror

ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion

BusinessMirror

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR

(2017, 2018, 2019, 2020)

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

A broader look at today’s business Thursday, December 21, 2023 Vol. 19 No. 71

PHL TRIMS NOVEMBER www.businessmirror.com.ph

■

P.  |     | 7 DAYS A WEEK

BOP GAP 71% TO $216M B J E Y. A

PRUDENT DEBT TACK: PBBM’S VOW AS HE SIGNS 2024 BUDGET

@jearcalas

HE Philippines trimmed its balance of payments (BOP) deficit in November by over 70 percent year-on-year to $216 million, but it remained the widest in two months, according to the Bangko Sentral ng Pilipinas (BSP). BSP said the country’s overall BOP position remained in a deficit in November at $216 million but was 71.42 percent narrower than the $756 million recorded deficit in the same month of last year. “The BOP deficit in November 2023 reflected outflows arising mainly from the National Government’s (NG) payments of its foreign currency debt obligations,” the BSP said in a recent news release. BSP data showed that the November BOP deficit was the widest in two months or since the $414-million deficit posted in September. Despite the November deficit, the country’s overall cumulative BOP position from January to November posted a $3-billion surplus, a reversal of the $7.9-billion deficit recorded in the same period last year. “Based on preliminary data, this development reflected mainly the improvement in the balance of trade alongside the higher net inflows from personal remittances, trade in services, and foreign borrowings by the NG,” the BSP said. “Further, net inflows from foreign direct investments contributed to the surplus, albeit lower during the covered period,” the BSP added. Given the latest data, the country’s gross international reserves (GIR) level decreased to $102.7 billion as of end-November S “PHL,” A

B S P. M @sam_medenilla

RESIDENT Ferdinand R. Marcos Jr. on Wednesday assured the nation his administration will implement sound “fiscal stewardship” in the spending of the over P5.768-trillion 2024 national budget. The chief executive made the commitment as he signed Republic Act (RA) No. 11975 or An Act

Appropriating Funds for the operations of the government of the Republic of the Philippines from January 1 to December 31 2024 in Malacañang. He noted part of the said good spending practice is for the government not to engage in “reckless borrowing.” “Good fiscal stewardship imposes upon us discipline not to be C  A

PRESIDENT Ferdinand R. Marcos Jr. shows the 2024 General Appropriations Act (GAA), which contains the P5.768 trillion national budget, after signing it in a ceremony at Malacañan Palace in Manila on Wednesday, December 20, 2023. Cheering him on are (from left) Executive Secretary Lucas Bersamin, Senate President Juan Miguel Zubiri, Speaker Martin Romualdez, and Budget Secretary Amenah Pangandaman. REY BANIQUET/NIB

WARM WELCOME FOR MODERN HEROES Overseas Filipino workers, often hailed as modern-day heroes or “bagong bayani,” experienced

the long-awaited Pasko Salubong 2023 event held at NAIA Terminal 1 on Wednesday, December 20, 2023. Amid the backdrop of a giant “parol” (traditional Christmas lantern), gift packs were generously distributed to both OFWs and their children, bringing joy and festive cheer. NONIE REYES

Marcos names 4 new MIC directors

RESIDENT Ferdinand R. Marcos Jr. has appointed four new directors of the Maharlika Investment Corp. (MIC), including a long-time Asian Development Bank (ADB) officer. The chief executive swore in Vicky Castillo Tan, Andrew Jerome

Gan, German Lichauco, and Roman Felipe Reyes as the new members of the MIC in Malacañang on Wednesday. They will be joining Rafael D. Consing Jr., who was designated as President and Chief Executive Officer (CEO) of the MIC last month.

Tan worked for Citibank, AIG Philam Bank Inc., and Chinatrust (Phils.) Commercial Bank Corp. before serving at the ADB from September 2002 to January 2021. She served as SteelAsia ManuS “M,” A

PESO EXCHANGE RATES US 55.9170 ■ JAPAN 0.3888 ■ UK 71.2047 ■ HK 7.1704 ■ SINGAPORE 42.0999 ■ AUSTRALIA 37.8055 ■ SAUDI ARABIA 14.9068 ■ EU 61.4192 ■ KOREA 0.0430 ■ CHINA 7.8535 Source: BSP (December 20, 2023)

News BusinessMirror

Thursday, December 21, 2023

Marcos...

C  A

facturing Inc.’s Deputy President and May Bank Inc.’s Independent Director and Chairperson of its Corporate Governance Committee before her appointment in the MIC. Another new director, Gan, is serving as a member of the Board of Directors, the Audit Committee, and the Compensation Committee of Capital Markets Integrity Corp. (CMIC). Meanwhile, Lichauco served as Senior Partner at the Siguion Reyna, Montecillo and Ongsiako Law Offices, as well as President of Gemarvic Holdings Inc. The last new MIC member is Reyes, who is a current Director of the Radio Philippines Network Inc. (RPN 9); Pampanga Sugar Development Co. (Pasudeco); the All-Asian Countertrade; Philippine Geothermal Production Co.; and Converge ICT Solutions Inc. Under Republic Act (RA) No. 11954, the MIC will manage the Maharlika Investment Fund, the country’s first sovereign wealth fund. Its members include the secretary of finance, MIC CEO, president and CEO of the Land Bank of the Philippines, president and CEO of the Development Bank of the Philippines, two regular directors, and three independent directors. Samuel P. Medenilla

www.businessmirror.com.ph

DMW backs ITF plea for PHL seafarers’ safety in Red Sea B L S. M

&  S P. M

@lorenzmarasigan @sam_medenilla

HE Department of Migrant Workers (DMW) has joined the International Transport Workers Federation (ITF) in advocating the safety and well-being of Filipino seafarers amid the recent drone, missile, and rocket attacks on marine vessels navigating the Red Sea and Gulf of Aden.

In a statement, DWW Officerin-Charge Hans Leo J. Cacdac said that it is crucial to protect Filipino seafarers navigating the Red SeaGulf of Aden shipping corridor, a crucial artery for global trade, facilitating the transportation of oil, gas, and essential commodities between Europe, Asia, and Africa. “Our overwhelming priority is to ensure the safety of our kababayans at sea. We are deeply concerned over the increasing number of attacks on marine vessels and the danger this poses to seafarers,” he said. ITF General Secretary Stephen

Cotton has said the “primary concern of the ITF is the safety of seafarers, and we would expect shipping companies to share that concern. Seafarers move the world.” Already, major shipping companies, including Maersk, Hapag Lloyd, and Mediterranean Shipping Company (MSC), have responded by rerouting their vessels through the Cape of Good Hope at the southern tip of Africa, bypassing the perilous Red Sea-Gulf of Aden shipping corridor. This decision comes despite the approximately 3,000 nautical

miles added to their usual routes, extending the tours of duty for crew members and causing logistical impacts on goods, services and delivery schedules. “We recognize the Red Sea and Gulf of Aden shipping corridor’s critical role in the global supply chain and the potential disruptions caused by rerouting ships away from it. Nonetheless, we believe that no cargo is worth the risk to our Filipino seafarers’ lives,” said Cacdac. Meanwhile, the DMW is now closely monitoring the Filipino seafarers who may be affected by the global shipping firms’ decision to reroute their ships away from the dangerous waters in the Red Sea and the Gulf of Aden. In a phone interview with BM, DMW officerin-charge Hans J. Cacdac said the development will be beneficial for the affected sailors since it will ensure their safety. “It will also provide more income for them since it will provide them with longer work hours,” the DMW official said. However, he noted the arrangement can lead to fatigue in the long-term for the affected workers. Cacdac said they will coordinate with manning agencies and shipping firms to determine how many Filipino sailors are aboard rerouted ships. In a related development, Cacdac said they are also waiting for the necessary declaration from the International Bargaining Forum (IBF) and the International Mari-

time Employers’ Council (IMEC) before they declare areas of the Red Sea as “high-risk zones.” He noted this will allow Filipino sailors onboard ships passing in such zones to avail themselves of double compensation. It will also give them the right to refuse to sail in said areas.

One in four seafarers a Pinoy

THE DMW reports that as of the third quarter of 2023, there are a total of 488,606 Filipino seafarers deployed, making them one out of every four of the world’s seafarers. The Philippines, Russia, Indonesia, China, and India are the largest suppliers of officers and skilled seafarers working on merchant ships. According to the International Chamber of Shipping (ICS), in 2021, there were 1,892,720 seafarers, of which 857,540 are officers and the remaining 1,035,180 are skilled seafarers. “Filipino seafarers are the most hardworking and trustworthy workers, and we will never cease to monitor and promote their safety and well-being on board ships that are their welcome workplaces,” Cacdac said. According to reports from the Associated Press, rebels from Yemen’s Houthi launched ballistic missiles in the Red Sea on three commercial ships on Sunday. Likewise, a US warship shot down three drones in “self-defense” during an assault. Houthi, said to be backed by Iran, claimed two of the attacks.

PHL...

C  A

from $101 billion as of end-October. The latest GIR level represents a more-than-adequate external liquidity buffer equivalent to 7.6 months’ worth of imports of goods and payments of services and primary income. BSP said this ensures availability of foreign exchange to meet balance of payments financing needs, such as for payment of imports and debt service, in extreme conditions when there are no export earnings or foreign loans. Moreover, data showed this is about 6.0 times the country’s shortterm external debt based on original maturity and 3.7 times based on residual maturity. BSP said short-term debt based on residual maturity refers to outstanding external debt with original maturity of one year or less, plus principal payments on medium- and long-term loans of the public and private sectors falling due within the next 12 months. Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the country’s BOP position in December “could improve” on the back of the NG’s maiden Sukuk bonds issuance worth $1 billion. Ricafort noted that Overseas Filipino Worker inflows, Business Process Outsourcing revenues, exports, foreign tourism receipts as well as investment income from abroad would provide support to the country’s BOP. He added that the country’s GIR returned to above $100 billion for the second straight month and rose to the highest since May 2022. “Going forward, any improvement in BOP data and in GIR data for the coming months could help provide greater cushion/support/buffer for the peso exchange rate vs. the US dollar especially vs. any speculative attacks,” he said.

PRUDENT DEBT TACK: PBBM’S VOW AS HE SIGNS 2024 BUDGET C  A

led into the temptation of bloating what we owe,” Marcos said. “Good government dictates upon us the duty to spend the appropriations we have cobbled together for the correct purposes, the right way, on time, and on budget," he added.

No direct veto

IN an interview with reporters in Malacañang, Budget Secretary Amenah F. Pangandaman said the President did not make any direct veto in the provisions of RA 11975. She disclosed the chief executive merely gave conditional and general observations in his veto message for the 2024 GAA. “Usually there are general provisions indicated there subject to implementing rules and regulation or guidelines to be issued by their respective departments so those were cleared in the veto message,” Pangandaman said. She noted the message also included the President’s reiteration of existing laws in the veto he made. Based on DBM’s initial browsing of the 2024 GAA, Pangandaman said they found its provisions consistent with the priority programs of the Marcos administration.

Battle plan

MARCOS reminded the concerned government agencies not to underspend or overspend so public funds will be well-spent and benefit every Filipino. “Implementation delay and illegal deviations inflict the same havoc of denying the people of the progress and development that they deserve,” Marcos said. “Honor the taxpayers who make the budget possible and in doing so we will bring closer to the brighter tomorrow that we aspire—for Bagong Pilipinas that we all envi-

sion for our people,” he added. The President made the reminder after government underspending during the second quarter of the year dragged down the country’s economic growth. Currently, Pangandaman said the government has released almost 98 percent of its P5.268 trillion budget this year. Of which, about 80 percent were already disbursed due to the catch-up plan of the concerned government agencies. The 2024 GAA, the President said, will serve as the government’s “battle plan” in fighting poverty and illiteracy, in producing food and ending hunger, in securing the country’s border, keeping the people healthy, creating jobs, and funding livelihoods. “It is wrong to say that the budget merely pays for the overhead of the bureaucracy, it is more than that. It funds the elimination of problems that we as a nation must overcome,” Marcos said.

Social protection

HOUSE Speaker Ferdinand Martin G. Romualdez and Camarines Sur Rep. Luis Raymund “LRay” Villafuerte lauded the swift passage of the 2024 GAA, since it ensures the government will have the resources for its social protection programs for poor, agricultural programs, and maritime security. “With this pro-poor, pro-growth national budget plan for next year, the President will get closer to his vision of a prosperous and peaceful Philippines where nobody is left behind,” Villafuerte said. The National Unity Party (NUP) president pointed out among the salient provisions of the 2024 GAA is that it doubled the funding for the pension program for 4.1 million indigent elderly Filipinos to P49.8 billion. It also includes funding for the Department of Social Welfare

and Development’s Ayuda sa Kapos sa Kita Program (AKAP) that provides P5,000 for every “near poor” target-beneficiary earning P23,000 or less per month. Romualdez said AKAP is part of an almost P500-billion social amelioration program for at least 12 million poor and low-income families. For agriculture, Villafuerte said the national budget next year provides a P10-billion support program for farmers in the form of production inputs like high-yield seeds and fertilizers and P60 billion for irrigation projects.

Security funds

THE lawmaker also noted that the final version of RA 11975 removed P1.237 billion-worth of confidential and intelligence funds (CIF) from “civilian agencies not actually dealing with intelligence work and law enforcement.” He said the concerned CIF were realigned to security- or defenserelated offices in need of such resources. Romualdez said P1.5 billion of the GAA will be used for the expansion and development of the airport in Pag-asa Island and the construction of a shelter port in Lawak, the island closest to Ayungin Shoal. The initiative, he said, is part of the government’s efforts to secure the West Philippine Sea (WPS). He said Congress will also provide the needed budget for the defense of the West Philippine Sea, from Scarborough Shoal or Bajo de Masinloc off Zambales and Pangasinan in the north to Ayungin Shoal in Palawan in the south. “These areas are inside our 200mile exclusive economic zone. They belong to no one but us. Again, we are one with President Marcos, our armed forces and our Coast Guard in protecting and defending what is ours,” Romualdez said.

Thursday, December 21, 2023

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

Board to determine PRA chief Carrion’s fate–Garcia-Frasco By Ma. Stella F. Arnaldo @akosistellaBM

Special to the BusinessMirror

HE BOARD of Trustees of the Philippine Retirement Authority (PRA) holds the fate of its general manager and CEO, Cynthia Lagdameo Carrion, in its hands, following her reported rude behavior during the recent Senate plenary sessions on the proposed national government budget for 2024. “The investigation is ongoing to give her an opportunity also to say her side,” said Tourism Secretary Christina Garcia-Frasco in an interview with the BusinessMirror on the sidelines of the Department of Tourism’s (DOT) recent year-ender presentation of its accomplishments. “She has given her reply. What is left to be done is to refer it to the Board of the PRA.” Garcia-Frasco chairs the PRA board, which also includes Bangko Sentral ng Pilipinas Gov. Eli M. Remolona Jr., Immigration Commissioner Norman G. Tansingco, and DOT OIC-Undersecretary for Tourism Development Planning Verna Esmeralda C. Buensuceso as ex-officio members. Under Republic Act No. 10149, which oversees the operations of government-owned and-controlled corporations (GOCC), “the CEO shall be subject to the disciplinary powers of the Board and may be removed by the Board for cause.” It would be recalled that during the Senate’s marathon plenary hearings on the proposed national budget for 2024, lawmakers took turns lambasting Carrion for “inappropriate” text messages they received from her. She apparently complained that Deputy Minority Leader Senator Risa Hontiveros’s interpellations of budget sponsors of other government agencies, had been holding up the hearing of DOT’s own budget. Garcia-Frasco had to publicly apologize to the senators for Carrion’s messages. (See, “Senators reprimand tourism exec for rude text messages on budget,” in the BusinessMirror, November 22, 2023.)

Report to PBBM THE DOT chief said she had also submitted a report to the President about the incident. “It was a very factual report of everything that inspired including quotations (i.e., screen captures) of the messages that [Carrion] sent to senators,” adding, “It was just a disappointment in terms of her actuations and put at risk the budget of the entire department and attached agencies.” Following the incident, senators no longer probed the DOT’s proposed P3.4 -bi l l ion budget for 2024, and approved it in its entirety. In a separate interview with reporters following the DOT ’s year-ender event, Garcia-Frasco said the agency was pushing its marketing and promotions to the United States, Europe, and key Asian markets to boost tourist arrivals in the Philippines. “We want to open up the Philippines to European travelers since our diving, our surfing, our adventure, and the wellness destinations are quite in demand for these nationalities,” she said. “At the same time, we want to continue to strengthen our portfolio as far our Asian neighbors are concerned, especially that Japan continues to be one of our top source markets, the South Koreans are number one in terms of international arrivals to the country. And obviously, we also want to capitalize on global trends that would indicate the Chinese market continues to provide outbound tourism in large numbers.” The key, she noted, were more direct flights to the Philippines from the US and Europe. The DOT has already expressed its concern on the suspension of the electronic visa platform for Chinese applicants. (See, “DOT awaits Palace response to its concern over e-visa suspension in China,” in the BusinessMirror, December 13, 2023.) The agency has projected 7.7 million international arrivals in 2024 under its baseline scenario. As of December 12, the Philippines received 5.07 million foreign tourists.

Go pushes for stronger mental health support after pandemic

ENATOR Christopher “Bong” Go, chairperson of the Senate Committee on Health and Demography, reiterated his focus on advancing mental health initiatives in the country during the 95th Founding Anniversary of the National Center for Mental Health (NCMH) in Mandaluyong City on Monday, December 18. During the event, Go was also joined by Senators Sherwin “Win” Gatchalian and Ronald “Bato” dela Rosa, as well as Mandaluyong City Mayor Benjamin Abalos Sr. Addressing a diverse audience of health-care professionals, policymakers, and mental health advocates, Go emphasized the critical need for enhanced mental health services, especially in the wake of the Covid-19 pandemic’s impact on the mental well-being of Filipinos. Go highlighted the staggering effects of the pandemic on mental health. He noted the increase in cases of anxiety, depression, and other mental health conditions, aggravated by the pandemic’s social and economic fallout. During his visit to NCMH, Go also checked on the operations of the Malasakit Center inside the hospital. As principal author and sponsor of the Malasakit Centers Act, Go stressed that patients and their families can conveniently avail of medical assistance here or in any of the 159 Malasakit Centers operational nationwide. Go’s Malasakit Team also conducted

a feeding program that day for outpatients and frontliners. Go then outlined several legislative measures he has championed to address mental health concerns. These measures aim not only to provide necessary support for those suffering from mental health issues, but also to de-stigmatize mental health care in the Philippines. Go emphasized the need to reinforce the implementation of Republic Act No. 11036, also known as the Philippine Mental Health Act. This Act, signed into law during the term of former president Rodrigo Duterte, highlights the right of all Filipinos to access mental health care. It aims to deliver mental health services at the barangay level, incorporate mental health and wellness programs at the community level, enhance mental health facilities, and foster mental health education in both educational institutions and workplaces. The Department of Education previously reported that in 2021, 404 students from public schools committed suicide, while 2,147 attempted to take their own lives. It is for this reason that the senator has been pushing for the passage of his proposed Senate Bill No. (SBN) 1786, aimed at mandating public higher education institutions (HEIs) to establish Mental Health Offices on the campuses. He accentuated the urgency of addressing mental health issues among young learners.

Radar system in La Union boosts PHL’s capability to monitor foreign intrusions

HE Philippine Air Force (PAF) will now have the capability to detect intrusions coming in within 300 nautical miles with the turnover of the Mitsubishi Electric Company (MELCO) air surveillance radar system (ASRS) on Wednesday. Defense Secretar y Gilber to “Gibo” C. Teodoro Jr. led the official turnover of the MELCO-made FPS-3ME to PAF at the Wallace Air Station in San Fernando, La Union. “Aside from detecting intrusions in our air space, along with our other systems, we will have a clearer picture on what is happening in the West Philippine Sea and other parts of the country,” he said in a mixture of Filipino and English. Teodoro also said that the ASRS would also allow the Philippines to determine what is going on in its exclusive economic zone (EEZ). The PAF earlier said that the ASRS deal with MELCO consists of threefixed FPS-3ME and one mobile TPSP14ME worth P5.5 billion. These radar systems will be operated

by the PAF’s 580th Aircraft Control and Warning Wing and is under the Armed Forces of the Philippines (AFP) Modernization Horizon Plan 2. Procurement mode was done via government-to-government deal. The Department of National Defense signed this contract on August 14, 2020. The contract includes the radar platform with support facilities that include radar tower and radome, com m a nd-a nd- cont rol bu i ld i ng , commu nic at ions inf rast r uct u re, electric power generator building and housing for the mobile radar and its vehicles. It also includes support vehicles for the mobile radar, training, maintenance facilities and initial integrated logistics support systems (ILS).

DILG call for firecracker prohibition gains support

HE D e p a r t m e nt o f I nt e rior and Local Government (DILG) found a strong ally in its call to ban the sale and use of firecrackers nationwide. The toxic watchdog group BAN Toxics said it fully supports DILG Secretary Benjamin “Benhur” C. Abalos Jr., who earlier called on all local government units (LGU) to enact an ordinance that will ban the use and sale of firecrackers to prevent firecracker-related injuries and accidents, including disastrous fires during the Christmas and New Year revelries. “We support a shift to a safer holiday season in the country. We need to remember ‘safety first’ for our children and the community from the health and environmental pollutants from firecrackers,” Thony Dizon, Toxics Campaigner of BAN Toxics said in a statement. Ea rly t h is mont h, t he g roup launched a campaign, together with school, local officials, and representatives from the Philippine National Police and Bureau of Fire Protection, urging the public not to light firecrackers, citing health and environmental

effects of firecrackers and for a toxicfree and waste-free Christmas and New Year celebration. In 2018, the DILG issued Memorandum Circular (MC) 2018-216, aimed to regulate and control the use of firecrackers and other pyrotechnic devices, in compliance with the provisions of EO No. 28 and provide additional guidance to all concerned, particularly on allowable and prohibited types of fireworks. The said MC reiterates its campaign against illegal firecrackers. Since 2002, Davao City has been implementing City Ordinance 06002, “An ordinance prohibiting the manufacture, sa le, d istr ibution, possession, or use of firecrackers or pyrotechnic devices and such other similar devices and the exploding of firecrackers or other similar explosives” within the territorial jurisdiction of Davao City. According to the group’s research, the entire Bicol Region, the provinces of Aurora and Zambales, and more than 40 LGUs have already enacted a total and/or partial ban on the sale and use of firecrackers from 2009 to

PRC’s Gordon calls for more blood donations during holiday season

AKE blood donation as your Christmas gift. The Philippine Red Cross (PRC) issued this call on Wednesday, saying the holiday season may see a spike in the need for blood amid a lean period for blood donations due to vacations, seasonal illness, school breaks, and severe weather. The PRC said that the urgent demand for blood increases due to more road accidents. PRC Chairman and CEO Richard Gordon has directed the blood centers and 71 blood collection units of PRC across the country to be prepared for a higher demand for blood in hospitals and communities during the holiday season. The PRC has intensified its call for blood donations to provide adequate and safe blood to the most

vulnerable. “Ang dugo ay hindi pwedeng imanufacture ng tao. Tanging mga donasyon ng dugo ang maaari lamang pagkuhanan ng dugo ng mga nangangailangan nito. Ngayong holiday season ay mas marami sa ating mga kababayan ang mangangangailangan ng dugo. Hinihikayat namin ang mga kababayan natin na mag-donate sa aming mga blood centers at blood collecting units. Magsisilbing regalo at pag-asa ang iyong dugo sa mga Pilipino ngayong Pasko,” said Gordon. A unit of blood can save the lives of several people, he added. According to the PRC Blood Services, each unit of blood donated can generate one unit each of red blood cells, plasma and platelets. Each component can be transfused to several patients depending on the

DND and Air Force officials lead by Defense Secretary Gilbert “Gibo” C. Teodoro pose for a souvenir snapshot at the gate of the ASRS radar tower in Wallace Air Station in San Fernando, La Union Wednesday. PHOTO COURTESY OF PAF The PAF said the ASRS are designed for early warning and land and maritime surveillance, whether for fixed-wing aircraft, helicopters, or remotely piloted vehicles. It also said the ASRS acquisition will enhance the country’s ability to monitor air and maritime activities in the region. Pre-delivery inspection of the first unit of ASRS was conducted

2022. These include Angeles City, Baguio City, Caloocan City, Cebu City, Davao City, Kidapawan City, Las Piñas City, Makati City, Malabon City, Mandaluyong City, Mandaue City, Manila City, Marikina City, Muntinlupa City, Navotas City, Olongapo City, Paranaque City, Pasay City, Pasig City, Pateros, Quezon City, San Juan City, Taguig City, Tarlac City, Valenzuela City, and Zamboanga City. The Bicol Region, which comprises six provinces, seven cities, and 107 municipalities, had issued a Regional Peace and Order Council Resolution banning firecrackers and pyrotechnic devices in the Bicol region in 2020. The issuance of Executive Order No. 28, which authorized the local chief executives to promulgate the necessary rules and regulations on firecrackers and other pyrotechnic devices, has fast-tracked the enactment of such LGU ordinances within their territorial jurisdiction in conformity with the national standards, rules, and regulations. “To ensure a safer celebration for the coming year, BAN Toxics urges the local government officials to enact an ordinance banning the sale and use of firecrackers to safeguard and protect human health, especially that of children and the environment,” the group added.

Jonathan L. Mayuga

components required to treat their particular condition. For her part, PRC Secretary General, Dr. Gwen Pang, reiterated the health benefits of donating blood. Donating blood reduces the risk of heart and liver diseases, lowers the risk of cancer, develops new blood cells, and reduces cholesterol. “To lead and further encourage our staff and volunteers to donate blood, we are organizing an in-house bloodletting activity at our National Headquarters and other chapters across the country. Let us spread the spirit of love and compassion this Christmas by donating blood,” Dr. Pang added. For blood donations, blood requests, and other inquiries, email the PRC National Blood Services at nbs.recruitment@redcross.org.ph or contact the PRC Blood Call Center, which may be reached nationwide by dialing 143. Claudeth Mocon-Ciriaco

from October 4 to 8, 2022, in Japan. T he deliver y of the first unit of A SR S was on December 7, 2022, after which, construction and installation of radar tower and C-2 building were undertaken in the succeeding months. The MELCO radar passed the acceptance test on October 24 this year and has been in use since then.

Rex Anthony Naval

Sorsogon fishermen rescue two marine turtles accidentally caught in fish trap

ORSOGON fishermen rescued two marine turtles that were accidentally caught in a stationary fish trap (baklad) in Gubat, Sorsogon. The rescued marine turtles were immediately brought to shore for inspection and were eventually turned over to the Provincial Environment and Natural Resources Office (PENRO) of Sorsogon province on December 19, the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) reported. Marine turtles are endangered species. The declining population of these charismatic creatures has dropped due to numerous factors, including accidental bycatch, or being entangled in nets indiscriminately discarded by fishermen. Rescuing and releasing stranded endangered marine species have been a part of the initiative of the Pamalakayaaffiliated Save Gubat Bay Movement (SGBM), whose members saved the trapped marine turtles, to preserve the marine resources. SGBM is a network based in Gubat, Sorsogon composed of local fisherfolk, coastal residents, and environmentalists. As part of its advocacy, the group has opposed the construction of a coastal road project that involves dumping and filling portions of the municipal waters. The fishers’ group also said the project will adversely affect at least nine coastal villages in Gubat town. The coastal road project, which involves reclamation, will effectively destroy the marine environment and coastal resources, such as mangroves and seagrasses. This will consequently disturb every creature that is part of the marine ecosystem, including our endangered sea turtles. “The project directly threatens the livelihood and community rights of small fisherfolk who are at the forefront of marine conservation, through their innate capacities as natural environmental defenders,” Allan Espallardo, president of SGBM said in a statement Wednesday. The Sorsogon Coastal Road is a Department of Public Works and Highways project under the Build, Build, Build program of the previous Duterte administration. Jonathan L. Mayuga

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

Thursday, December 21, 2023

NDC and GGGI ink accord to develop ‘green’ start-ups H

Salceda lauds Frederick Go’s designation as SAPIEA chief

By Andrea E. San Juan @andreasanjuan

HE Global Green Growth Institute (GGGI) inked an agreement with the National Development Company (NDC), the investment arm of Department of Trade and Industry (DTI), to establish a cooperation on technical vocational education training, technical assistance, and “expert” advice to companies engaged in the waste management, sustainable forestry, and green circular economy. “GGGI intends to enter into a memorandum of understanding (MOU) with the National Development Company in hopes of establishing the Green Growth

Cooperation (GGC), which entails GGGI providing technical vocational education training, technical assistance, and expert advice to companies that are engaged in the waste management, sustainable forestry, and green circular economy,” the MOU between the two parties read. “As soon as the start-up companies in these spaces mature to commercial viability, the same shall be endorsed to the NDC for possible equity investment,” NDC said. The NDC also noted it can look at “traditional equity funding, debt financing, the start-up venture fund (SVF), or combinations thereof to improve the financial viability and de-risking the industry

to encourage private investment to come in.” The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization, which supports “strong, inclusive and sustainable” economic growth in developing countries and emerging economies. According to NDC, GGGI supports the Philippines in its transition toward climate resilient and inclusive green growth. “The program responds to the development dynamics of the Government, while accelerating implementation of green growth policies through structuring bankable projects and facilitating their financing,” the MOU read.

The investment arm of DTI said the program is “mainly directed” at local government units (LGU) for actual project implementation, which include provinces, cities, and municipalities, and micro, small, and medium enterprises (MSME). GGGI works w ith developing countr y partner’s governments to achieve their Nationally Determined Contributions (NDCs), the investment arm of DTI said. This includes governments, civil society, and the private sector to develop innovative green growth development solutions, project financing and investment, and sharing of knowledge and country lessons.

Labor group backs PBBM plan to boost foreign investments

HE Trade Union Congress of the Philippines (TUCP) expressed its full support to President Ferdinand R. Marcos Jr.’s plan to revisit national policies to boost the entry of foreign investments and transform the Philippines into a global investment hub. The entry of foreign direct investments (FDI) to the Philippines could promote employment among Filipinos, according to TUCP Vice President Luis Corral.

Marcos said the government is exploring and examining ways to improve the state of the country for FDIs, including the possible amendment of certain economic provisions of the 1987 Charter. He recently issued Executive Order (EO) No. 49, initiating the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) as the “troubleshooter” for investment and economic priorities. (Re-

lated story: https://businessmirror.com. ph/2023/12/18/pbbm-issues-eo-no49-creating-the-office-of-the-special-assistant-to-the-president-for-investmentand-economic-affairs/) “We are one with the Marcos Administration in incentivizing the entry of more foreign direct investments to our country, which are critical in creating new, permanent, and decent jobs for our people,” said Corral.

He added, “We stand ready to partner to promote progressive, worker-centered, and race-to-the-top labor relations to attract investors to set up shop here and generate more and better jobs for all because trade is inextricably tied to the full and free exercise of workers’ rights.” Presidential Adviser and Economic Affairs Frederick D. Go will oversee the OSAPIEA. Patrick V. Miguel

Policemen nab three persons for selling ‘fake’ MMFF tickets By Claudeth Mocon-Ciriaco @claudethmc3

UEZON City policemen nabbed three persons for allegedly selling complimentary Metro Manila Film Festival (MMFF) tickets that are strictly not for sale. The police conducted an entrapment operation after the Metropolitan Manila Development Authority (MMDA) sought their help. A total of 46 tickets were sold illegally through Facebook at P1,300 to

P1,500 each. An initial transaction was done through online selling. One of the suspects and the poseur buyer met up for the ticket last December 14 in Quezon City. The ticket was certified by the MMFF Secretariat as “fake.” An entrapment operation was subsequently carried out to apprehend the first suspect who eventually revealed his cohort. Forty counterfeit tickets were seized in his possession. During interrogation, the two revealed their source of the MMFF

tickets, who was also apprehended later. “As the MMDA Chairman and concurrent overall MMFF Chairman, I strongly condemn the acts of these enterprising individuals who are using the Metro Manila Film Festival as a business venture by selling fake complimentary tickets,” MMDA Chairman Romando Artes said. These tickets, he stressed, are strictly not for sale, and “no persons or groups are authorized to distribute them for sales or any profiteering purposes.” The three suspects have already

undergone inquest procedure and will be charged with Estafa through Falsification of Public Documents in relation to RA 10175 or the Cybercrime Prevention Act of 2012. They are now in the custody of the police. “With this unfortunate incident, I urge the public not to patronize MMFF tickets sold online and instead report to us these unlawful activities,” he said. Artes warned, “Anyone who will be caught selling or buying complimentary tickets shall be sanctioned in accordance with the law.”

CSC reminds govt workers against soliciting gifts, drinking in offices By Patrick V. Miguel

HE Civil Service Commission (CSC) has reminded government workers on Wednesday to “maintain a profes-

sional and conducive working environment” by not soliciting gifts and consuming alcoholic beverages in offices during Christmas parties. Requesting raffle prizes or soliciting monetary contributions from companies, and drinking alcoholic beverages in government offices are in violation of R.A. 6713 and CSC Resolution 1100039, respectively. “We all know that this is a season of joy and thanksgiving for the year of our lives and work that passed, but let us not forget our responsibility as civil servants,” said CSC Chairperson Karlo Nograles in Filipino in a news release. He added: “Let us maintain a professional and conducive working environment even during year-end and holiday

celebrations.” CSC Resolution 1100039 also states that any civil servant consuming alcoholic beverages in the workplace or reporting for work intoxicated is subject to disciplinary action or may be found guilty of Simple Misconduct—punishable by one-month suspension, or dismissal for second offense. Meanwhile, R.A. 6713 or the Code of Conduct and Ethical Standards for Public Officials and Employees states, “Public officials and employees shall not solicit or accept, directly or indirectly, any gift, gratuity, favor, entertainment, loan or anything of monetary value from any person in the course of their official duties or in connection with any operation being regulated by, or any transaction which may be affected

by the functions of their office.” In addition, the 2017 Rules on Administrative Cases in the Civil Service that said such violation may result in dismissal from office. CSC also reminded government agencies to ensure there is no disruption of public services should they plan on conducting get-togethers and year-end activities. They may also conduct said events outside office hours. “May we always be reminded of our duties as public servants even during the holidays. The most fitting way to conclude this eventful year is by maintaining the same standard of excellence in our service that we have consistently provided throughout the entire year,” said Nograles.

OUSE Committee on Ways and Means Chairman and Albay 2nd district Rep. Joey Salceda believes that Frederick Go’s promotion as President Ferdinand Marcos Jr.’s main man on economic matters bodes well for the country. Salceda was referring to Go’s recent designation as inaugural secretary of the newly created Office of the Special Assistant to the President for Investment and Economic Affairs (SAPIEA). Go is the erstwhile Presidential Adviser on Investment and Economic Affairs, a position that he has held since January 2023. “Secretar y Deck Go is one of the most preeminent names in Philippine business, and is a strong partner of the House Committee on Ways and Means,” Salceda said in statement Wednesday, December 20. Go is also currently the president and chief executive officer (CEO) of Robinsons Land Corp. He is the nephew of the late taipan John Gokongwei. “Deck and I have been working together on various reforms ever since he was appointed. I enthusiastically welcome his appointment as Special Assistant to the

President,” said Salceda. “His designation as basically the President’s man on all things related to the economy will also entail stronger coordination of our priorities and programs,” t he e conom i s t - con g re s s m a n said of Go. “I look forward to continuing our partnership as he takes on a strengthened role in President Marcos’ Cabinet,” added Salceda. Salceda said that before entering the business world, Go was an honor graduate of Management Engineering from Ateneo de Manila University. He was also editor-in-chief of Ateneo’s student publication, The Guidon. “With that background, we have seen eye-to-eye on the overwhelming majority of issues. As of date, on top of our work together is the CREATE MORE Act, for which we received a stronger mandate to finish the job from President Marcos himself,” Salceda said. Go’s promotion to full-fledged secretary came on the heels of the administration’s renewed push to gain foreign direct investments. The SAPIEA office was created on December 15, following Marcos’ issuance of Executive Order (EO) No. 49. Jovee Marie N. Dela Cruz

Group launches ‘zero waste Pasko’ campaign

ITH Christmas fast approaching, the environmental group EcoWaste Coalition said they expect a surge in garbage production due to gift wrappers and other packaging materials connected to the Filipino tradition of gift giving. To address the problem brought about by increased garbage production, the group launched a campaign entitled “Zero Waste Pasko,” challenging the public to find creative uses for Christmas gift wrappers and other packaging materials to cut down on holiday trash. As part of its campaign for a zero waste Christmas, the EcoWaste Coalition invited families and individuals to reuse, recycle, or upcycle wrappers and other gift materials instead of simply tossing them in the bin, or setting them on fire. In particular, the campaign was launched to discourage the practice of open burning to dispose of waste that could be recycled or upcycled. “Reusing, recycling or upcycling used wrappers, bags, boxes, and accessories will surely extend the useful life of these materials, and cut the volume of ‘holitrash’ that is sullying the season of giving,” said Ochie Tolentino, Zero Waste Campaigner, EcoWaste Coalition. “By not dumping or burning them, we also avoid pollutants from being formed or scattered into the environment,” she said. “These environmental pollutants contaminate our surroundings, including the air we breathe and the food we eat.” Depending on what is being burned, the open burning of garbage, for example, can result in smoke and ash containing heavy metals like arsenic, cadmium, lead, and mercury, persistent organic pollutants like dioxins, greenhouse gases such as carbon dioxide, carbon monoxide, and nitrogen oxide, as well as volatile organic compounds and particulate matter. To protect public health and the environment from garbage and pollution, the

country’s environmental laws, particularly the Clean Air Act and the Ecological Solid Waste Management Act, outlawed open dumping and open burning. Instead of tearing gift wrappers as shown in movies, the EcoWaste Coalition urged recipients to unwrap presents with care and keep the wrappers, bags, boxes, bows, and ribbons for future gift-giving. Wrappers can also be repurposed into book or notebook covers and as materials for school and personal art projects like scrapbooks. Crumpled wrappers can be used as cushioning materials for Christmas lights and Christmas tree decors to be removed and stored after the holidays. Gift bags and boxes can be reused for storing trinkets, buttons and sewing materials, maintenance medicines, paper clips, and other office or school supplies. Bows and ribbons can be used again or turned into personal adornments like hair bows and ties or as add-ons to flower arrangements. Greeting cards can be repurposed into instant bookmarks or reused as decorations for next Christmas. Red envelopes or money covers can be reused to keep ID photos, business cards, receipts, etc. Gift hampers can be repurposed as containers for kitchen condiments, fruits and vegetables, indoor plants, children’s toys, etc. Last December 10, in an event held in cooperation with the Our Lady of Perpetual Help Parish in Project 8, Quezon City, the EcoWaste Coalition put on display creative holiday decorations using a variety of common household discards such as glass and plastic bottles, tin cans, brown bags, egg trays, toilet paper rolls, magazines, and even electronic waste or e-waste in a bid to promote resource conservation and an eco-friendly observance of the Christmas season. Jonathan L. Mayuga

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

News

Thursday, December 21, 2023

‘Bilis Laya’: 985 PDLs freed from BuCor prison facilities By Joel R. San Juan @jrsanjuan1573

HE Bu reau of Cor rections (BuCor) announced Wednesday the release of 985 persons deprived of liberty (PDLs) from various operating prison and penal farms in the country who were either acquitted, have

served their maximum sentence or granted probation and parole. Bureau of Corrections Director General Gregorio Pio P. Catapang Jr. said the total number of released PDLs has reached 11,000 since Secretary of Justice Crispin Remulla assumed office. Catapang said that the bureau is working very closely with the Board

of Pardons and Parole (BPP) to fast track the release of PDLs who were paroled under their “Bilis Laya” program. He also ordered the BuCor legal team to study other possible legal remedies to hasten the release of PDLs who have already served their minimum sentence. The latest release of PDLs came

after the conduct of a two-day jail and prison decongestion summit held early this month to address overcrowding in the penal system. “This will be our contribution to help solve the problem of overpopulation in our prison and penal farms aside from transferring PDLs from the congested NBP to other operating less congested

facilities under our jurisdiction,” Catapang said. “ We w i l l ad he re to t he planned strateg y of addressing overpopulation in the penal system by reducing admissions, increase releases and expand our jail facilities,” he added. For his part Justice Undersecretary Deo Marco, who represented

Justice Secretary Remulla, commended the efforts of BuCor to decongest its prison facilities. Marco said the DOJ, together with BuCor, Board of Pardons and Parole and the Public Attorney’s Office led by lawyer Persida RuedaAcosta have submitted 1,500 PDL documents recommended for clemency to the Office of the President.

BusinessMirror

Thursday, December 21, 2023

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

66 GLOBAL SOLUTIONS INC. 9th & 11th/f Ssk Building, Block 7 Lot 5 Kennedy Road Corner Mindanao Avenue, Don Galo, City Of Parañaque 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 CHEN, YU IT Technical Mandarin 1.

Brief Job Description: Oversee all support and clerical work within a company. CHENG, YUN IT Technical Mandarin

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

Brief Job Description: Oversee all support and clerical work within a company. LI, CHUNYAN IT Technical Mandarin

Brief Job Description: Oversee all support and clerical work within a company. LI, ZEDONG IT Technical Mandarin

Brief Job Description: Oversee all support and clerical work within a company. LIU, JIAHUI IT Technical Mandarin

Brief Job Description: Oversee all support and clerical work within a company. NAY CHI WIN IT Technical Mandarin

Brief Job Description: Oversee all support and clerical work within a company. SHWE YEE LAE IT Technical Mandarin

Brief Job Description: Oversee all support and clerical work within a company. WU, XIAOXIANG IT Technical Mandarin

Brief Job Description: Oversee all support and clerical work within a company. XIAO, DONGJIAN IT Technical Mandarin

10.

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

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

CHEN, XU Chinese Marketing Specialist 15.

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

LI, XINJIAN Risk SPCLST I-IPI [CHI]

16.

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

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

17.

18.

11.

Brief Job Description: Responsible for ensuring schedule, cost, quality and safe delivery of the Camarines Sur Wind Project in the Philippines. Oversee a team of project managers who are on site managing the construction process for a group of wind and solar projects located at diverse locations around the country.

19.

12.

Brief Job Description: Use Artificial Intelligence (AI), automation and analytics to deliver solutions. Utilize AI-powered business process automation to advance natural language processing, computer vision and machine learning in solutions.

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

20.

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

AVANTICE CORPORATION 19/f Pbcom Tower, Ayala Ave., Bel-air, City Of Makati

Basic Qualification: Excellent communication skills, both verbal and written. 21.

13.

Brief Job Description: Developing and promoting weekly, monthly and quarterly sales objectives. Drafting detailed and accurate sales reports. Working with customers to better understand their business needs and goals.

NGUYEN THANH LONG Client BPO Senior Executive 22.

14.

Brief Job Description: Research markets, analyze customer data and create strategies to reach the target audience. Develop and execute marketing strategies for products and services, including creating campaigns, managing budgets and tracking metrics to measure.

Brief Job Description: Assist in responding to customer inquiries and resolving issues and complaints.

Basic Qualification: Accountancy graduate. With prior sales experience in a related field. With effective communication skills, particularly in Japanese and Russian languages. Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Holder of a Bachelor’s Degree in Economics. With ability to work under pressure, good communication and interpersonal skills and fluent in English and ChineseMandarin languages. Salary Range: Php 30,000 - Php 59,999

No.

26.

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

Basic Qualification: Proficient in Mandarin, Korean, and/or Vietnamese languages. Leverages team knowledge across several specialty areas to help resolve recurring seller issues. Experienced in conducting In-person Verifications is an advantage.

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

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

27.

23.

PATUMUTARANG-SRI, THUSCHAWE Client Delivery Executive Brief Job Description: Conduct and analyze market research.

28.

29.

Brief Job Description: Responsible for promoting and booking travel arrangements for Vietnamese speaking.

SUNNY YAN Malaysian Travel Consultant 25.

Brief Job Description: Responsible for promoting and booking travel arrangements for Vietnamese speaking.

KIM, MINSEO Shift Manager, Premium Services 30.

Brief Job Description: Provide excellent VIP services and gaming experience to our targeted customers.

ZHENG, BO Booth Fabrication Specialist Consultant 31.

Brief Job Description: Coordinates sub-contractors involved in the assembly stages. Ensures compliance with safety procedures and quality standards. Searches for the most efficient technical solutions.

Basic Qualification: Must be native in Malaysia/Taiwan/ Korean/ Indian/Thai/Japan/ Indonesia / Singapore/ Vietnam/China. Fluent in English and respective language. With at least a year experience in similar field.

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

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

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

Basic Qualification: Can coordinate and interface between fabrication/installation and pre-fabrication activities. The ability to speak and communicate using Mandarin language is an advantage. Must be willing to work in the field. Salary Range: Php 30,000 - Php 59,999

NGUYEN YEN TUYET Project Coordinator

Basic Qualification: Must be native in Malaysia/ Taiwan/ Korean/Indian/ Thai/Japan/Indonesia / Singapore/Vietnam/ China. Fluent in English and respective language. With at least a year experience in similar field.

Basic Qualification: College Graduate, preferably with 6 months to 1 year work experience as consultant. Fluent in Malaysian/Bahasa and English languages.

C’EST LA VIE EVENT MANAGEMENT INC. 230, Narra Street, Marikina Heights, City Of Marikina

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

Basic Qualification: Must be native in Malaysia/ Taiwan/ Korean/Indian/ Thai/Japan/Indonesia / Singapore/Vietnam/ China. Fluent in English and respective language. With at least a year experience in similar field.

QUALIFICATION AND SALARY RANGE

BLOOMBERRY RESORTS AND HOTELS INC. Solaire Resort And Casino, 1 Asean Avenue, Entertainment City, Tambo, City Of Parañaque

Basic Qualification: Able to speak, read and write Chinese language.

BEAUTIFUL PHILIPPINE TRAVEL AND CONSULTANCY SERVICES, INC. Unit Ug-50 Cityland Dela Rosa Condo., Dela Rosa St., Pio Del Pilar, City Of Makati

24.

Brief Job Description: Responsible for promoting and booking travel arrangements for Vietnamese speaking.

TU QUE LINH Vietnamese Travel Consultant

32.

Brief Job Description: The primary function of a project coordinator is to make sure projects run smoothly. Coordinating project schedules, resources, equipment, and information.

QIN, LIANJUN Project Coordinator 33.

Brief Job Description: The primary function of a project coordinator is to make sure projects run smoothly. Coordinating project schedules, resources, equipment, and information.

Basic Qualification: Must be willing to attend meetings, sales events, and training to keep abreast of the latest developments. Must be willing to work on the field. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must be willing to attend meetings, sales events, and training to keep abreast of the latest developments. Must be willing to work on the field. Salary Range: Php 30,000 - Php 59,999

CASPO INCORPORATED 43/f, 45/f, 49/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

KOH TECK HWEE Operations Manager 34.

Brief Job Description: Manage the Operations Management Department, review and analyze problems and approving recommended solutions and imposed its implementation.

Basic Qualification: Has the extensive experience in data analytics and data management, is proficient and able to communicate in Mandarin or any Chinese language. Salary Range: Php 500,000 and above

CEBU AIR, INC. Cebu Pacific Bldg., Domestic Rd, Barangay 191, Pasay City

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

CHOW YI WEN Malaysian Travel Consultant

Brief Job Description: Responsible for promoting and booking travel arrangements for Vietnamese speaking.

THOONG SENH MENH Vietnamese Travel Consultant

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

Brief Job Description: Responsible for promoting and booking travel arrangements for Vietnamese speaking.

LAM MY LINH Vietnamese Travel Consultant

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Proficient in Mandarin, Korean, and/or Vietnamese languages. Leverages team knowledge across several specialty areas to help resolve recurring seller issues. Experienced in conducting In-person Verifications is an advantage.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

DINH NGOC CANH Vietnamese Travel Consultant

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

AM-PRO IMPORTS MARKETING CORP. 16e Residenza Suites, 429 Shaw Blvd., Addition Hills, City Of Mandaluyong

CHEN, HAIHONG Chinese Marketing Specialist

Brief Job Description: Serves as a liaison between the customer and various departments & ensures that basic CS functions are performed.

Basic Qualification: College graduate. With relevant work experience in a related field. Fluent in English language. Salary Range: Php 150,000 - Php 499,999

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

Basic Qualification: Engineering graduate. With at least 10 years of work experience in the infrastructure industry, particularly in the renewal energy sector. Salary Range: Php 500,000 and above

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

CHU THI THOM Client BPO Executive

AKEBONO CO., LTD PHILIPPINES REPRESENTATIVE OFFICE Unit 2902 The Orient Square, Don F Ortigas Jr. Road Ortigas Center, San Antonio, City Of Pasig

LATYPOVA, GALIIA Russian Japanese Sales Director

Brief Job Description: Managing incoming calls and customer service inquires. VU TRUNG THANH Vietnamese Customer Service Representative

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1, Pioneer St., Barangka Ilaya, City Of Mandaluyong GHOSH, BHASKAR App Automation Eng Assoc Director

Brief Job Description: Managing incoming calls and customer service inquires. LI, QIANGJUN Chinese Customer Service Representative

ABOITIZ POWER CORPORATION 21st Nac Tower, 32nd St., Bonifacio Global City, Fort Bonifacio, City Of Taguig TRELOAR, NICHOLAS HUGH Head Of Construction

Brief Job Description: Specializes in video verifications, investigations, and risk management. Responsible for fraud investigations, identity verification, and authentication of fraudulent documents and invoices. Interview sellers through video call.

KHIN WIN HTWE Burmese Customer Service Representative

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

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

QUALIFICATION AND SALARY RANGE

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

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

RICASHIELYN GABRIEL HO KIM LIAN Risk SPCLST I-IPI [CHI]

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

ESTABLISHMENT / ADDRESS

AMAZON OPERATION SERVICES PHILIPPINES, INC. 4/f Unit 2c, One E-com Center Building Ocean Drive, Mall Of Asia Complex St., Barangay 76, Pasay City

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

SIMS, JONATHAN CARL Adviser, Crew Scheduling 35.

Brief Job Description: Develop and implement policies for efficient crew resource deployment and continuous team knowledge development.

Basic Qualification: 20 years in an aviation operational environment in a crewing function and strong aviation background with operational experience, preferably in the SEA network and beyond. Salary Range: Php 150,000 - Php 499,999

CENTURY PEAK CEMENT MANUFACTURING CORP. Units 17-b & 17-d 17/f Philamlife Tower, 8767 Paseo De Roxas, Bel-air, City Of Makati SUN, YAOCHUN Chinese Equipment Supervisor 36.

Brief Job Description: Maintain accurate records of inventory, equipment maintenance and mandatory safety training. Develop and manage process for equipment maintenance and parts replacement.

Basic Qualification: College graduate. Fluent in Chinese-Mandarin language. Salary Range: Php 30,000 - Php 59,999

CHINA HARBOUR ENGINEERING COMPANY 5/f Section E Ramon Magsaysay Center, 1680 Roxas Blvd., 076, Barangay 699, Malate, City Of Manila

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LI, YOUBIAO Mandarin Dredger Navigation Controller 37.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Proven experience as a Mandarin dredger navigation controller, familiarity, knowledge, and awareness of Machinery and Heavy equipment used by the company, and demonstrable experience in developing strategic business plans. Salary Range: Php 30,000 - Php 59,999

TONG, ZIYUAN Mandarin Dredging & Reclamation Quality Inspector 38.

Brief Job Description: The Mandarin dredging & reclamation quality inspector will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and longterm goals.

Basic Qualification: Proven experience as Mandarin dredging & reclamation quality inspector, familiarity, knowledge and awareness on equipment used by company, and demonstrable experience in developing strategic business plan.

No.

49.

WANG, WENHUI Mandarin Quality Inspector 39.

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

50.

XU, YOUFU Mandarin Quality Inspector 40.

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

YU, DAJUN Mandarin Quality Inspector 41.

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

Basic Qualification: Proven experience as Mandarin Reclamation Dredger Operator, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan.

51.

LIANG, CHAWEN Mandarin Reclamation Quality Controller 42.

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

52.

DAS, MANSI Programmer Analyst 43.

Brief Job Description: Understand client brief, the product/services and all its aspects. Conduct research and gather appropriate information from relevant sources. Edit content to adhere to set style guides and tone of voice documents.

Basic Qualification: Bachelor’s degree in Science/ Mathematics/ English or equivalent. Bachelor of Arts (Honours) in English.

53.

SAWAI, VRISHALI DEVIDAS Director, Service Delivery 44.

Brief Job Description: Collaborate with Associate Directors and other operational leaders to develop strategic plans, and coordinate with other departments to establish open communications systems that ensure information is mutually shared to achieve optimal results.

Basic Qualification: Experience in a senior level operations delivery role in a call center environment.

54.

55.

45.

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

56.

DANG XUAN HOANG Chinese Speaking Graphic Designer 46.

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

57.

DINH THI THEM Chinese Speaking Graphic Designer 47.

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

HOA QUANG XUAN Chinese Speaking Graphic Designer 48.

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

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

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

Brief Job Description: Liaising with clients to determine their requirements, timescale and budget. ZENG, PING Chinese Speaking Program Designer

58.

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. ZHU, HAIYAN Chinese Speaking Program Designer

59.

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

YEN, PEI-WEN Mandarin Finance Supervisor 60.

Brief Job Description: Supervise financial and accounting processes and ensure adherence to company/federal laws.

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

No.

66.

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

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

67.

62.

Brief Job Description: Collating and maintaining client information.

XIONG, XINGYING Chinese Speaking Data Entry Clerk 63.

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

WANG, SIJIA Chinese Speaking Graphic Designer 64.

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

ANDREAS Chinese Speaking Program Designer 65.

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

QUALIFICATION AND SALARY RANGE Basic Qualification: With at least 6 months of work experience and 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

EASYTECH SUPPORT INC. 9-11/f, 14/f Capella Bldg., Asean Drive Filinvest, Alabang, City Of Muntinlupa ZHOU, MIAO Mandarin Speaking Customer Service Representative 68.

Brief Job Description: Prepare product or service reports by collecting and analyzing customer information. Keep records of customer interactions, process customer accounts and file documents.

Basic Qualification: College graduate. Proficient in speaking, reading and writing in Chinese-Mandarin language. Salary Range: Php 30,000 - Php 59,999

FLASH EXPRESS SOFTWARE (PH) CO., LTD. INC. 11/f Cybersigma, Lawton Ave., West Mckinley, Fort Bonifacio, City Of Taguig

CAI, BINGBING Operations Supervisor 69.

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

Brief Job Description: Oversee and manage the day-to-day operations of multiple locations within the designated area. Develop and implement strategic plans to achieve sales and operations goals set by the company.

Basic Qualification: Business Management graduate. With at least 10 years of supervisory/ managerial experience in a related industry. Fluent in Japanese and English languages. Salary Range: Php 60,000 - Php 89,999

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

GIGA INFORMATION TECHNOLOGY AND SOFTWARE DEVELOPMENT INC. 2/f Lipam’s Building, 40 Presidents Avenue, B. F. Homes, City Of Parañaque

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

70.

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

71.

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

72.

73.

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

74.

75.

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

Brief Job Description: Collaborate with engineers, architects etc. to determine the specifications of the project.

Brief Job Description: Provide customers with product knowledge and educate the company’s clientele on the new products and app features to ensure that the clients get the best out of their subscriptions.

Brief Job Description: The Mandarin Marketing Officer is responsible for managing marketing and mainly focused 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.

Brief Job Description: The Mandarin Operation and Maintenance Supervisor schedule and maintain the construction site and resources of a company in a safety manner.

LIU, QIAO Chinese Speaking Admin Associate Brief Job Description: Responsible for providing overall administrative support to the team he/ she will be assigned to.

TIAN, WENLI Chinese Speaking Data Entry Clerk 77.

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

CAO THI THUY Chinese Speaking Graphic Designer 78.

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

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

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

Basic Qualification: Fluent in Mandarin and English languages, both in written and verbal. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Bachelor’s Degree in Law graduate. Fluent in French and English languages. With excellent customer service skills. Salary Range: Php 90,000 - Php 149,999

Basic Qualification: For marketing officer to be efficient and effective in performing their functions, they should have excellent communication and analytical skills. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Should have excellent communication and analytical skills. Salary Range: Php 30,000 - Php 59,999

INFOVINE INC. 9/f Y Tower, Moa Complex, Coral Way Drive Cor. Macapagal, Barangay 76, Pasay City 8th, 9th, 10th/f Aspire Corporate Plaza Bldg., Macapagal Blvd. St., Zone 10, Barangay 76, Pasay City

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

Brief Job Description: Manage a large amount of incoming calls.

YANG, LEI Mandarin Operation And Maintenance Supervisor

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: Foreign language speaking.

XIE, RULEI Mandarin Marketing Officer

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

XU, JIANXIN Chinese Customer Service Representative

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

Basic Qualification: Good communication skills. Salary Range: Php 30,000 - Php 59,999

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

MUYA, FREDDY MULOWAYI Customer Care Specialist - French Speaker

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

Brief Job Description: Manage a large amount of incoming calls.

HELLOCONNECT, INC. 7/f Inoza Tower, 40th St., Bonifacio Global City, Fort Bonifacio, City Of Taguig

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: Foreign language speaking.

PARK, KIOK Multilingual Project Manager

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.

CAI, CHONGYU Chinese Customer Service Representative

GOODMORNING BUILDERS CORPORATION 8272, Dr. A. Santos Avenue Corner Vitalez Compound, San Isidro, City Of Parañaque

76. SUN, BAIHE Chinese Speaking Business Development Associate

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGUYEN THI HUE 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 DENNIS Chinese Speaking Business Development Associate

ESTABLISHMENT / ADDRESS

D’SUPREME DEVELOPMENT CORPORATION U-g 17/f The Burgundy Corporate Tower, 252 Sen. Gil J. Puyat Ave., Pio Del Pilar, City Of Makati

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

WU, YUNWEI Chinese Speaking Program Designer

61.

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.

WEI, MENG Chinese Speaking Program Designer

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

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

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

WEI, HAILIN Chinese Speaking Program Designer

CRONYX INC. 6-12, 15-19/f Royal Peak Tower A, 485 Quirino Avenue, Tambo, City Of Parañaque LUU, MY LINH Chinese Speaking Business Development Associate

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

QIN, HANG Chinese Speaking Program Designer

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

CONCENTRIX DAKSH SERVICES PHILIPPINES CORPORATION Ground To 4th Floor Building F, Up Ayala Technohub, U.p. Campus, Quezon City

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

PHAN VINH TRUONG Chinese Speaking Graphic Designer

Salary Range: Php 30,000 - Php 59,999 COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig

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

PHAN THI VAN ANH Chinese Speaking Graphic Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as a Mandarin reclamation quality controller, familiarity, knowledge, and awareness of Machinery and Heavy equipment used by the company, and demonstrable experience in developing strategic business plans.

Brief Job Description: Perform retouching and manipulation of images.

PHAM THI KIM ANH Chinese Speaking Graphic Designer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as a Mandarin quality inspector, familiarity, knowledge, and awareness of Machinery and Heavy equipment used by the company, and demonstrable experience in developing strategic business plans.

LY TIEU MI Chinese Speaking Graphic Designer

NGUYEN VAN HAO Chinese Speaking Graphic Designer

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Thursday, December 21, 2023

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

CHEN, PO-HAN Chinese Speaking Graphic Designer 79.

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

HOANG THI THICH Chinese Speaking Graphic Designer 80.

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

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

A6 A8

BusinessMirror

Thursday, December 21, 2023

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LE TAN QUANG Chinese Speaking Graphic Designer

81.

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

LEO THI HOA Chinese Speaking Graphic Designer 82.

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

NG JIN HAN Chinese Speaking Graphic Designer 83.

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

VU THI HANG Chinese Speaking Graphic Designer 84.

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

CAO DANG MAU Chinese Speaking Program Designer 85.

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

LE THI THEM Chinese Speaking Program Designer 86.

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

QUACH THANH HUNG Chinese Speaking Program Designer 87.

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

TRAN THI THU THUY Chinese Speaking Program Designer 88.

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

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE 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: 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.

No.

DUONG VAN CHAU NGOC Payment Specialist 98.

LEE, GEE YOUNG BONNIE Manager, Elite Services Administration

99.

89.

90.

Brief Job Description: Design and renew sales proposals.

NGUYEN KIM HIEN Account Coordinator Brief Job Description: Design and renew sales proposals.

HOANG LE ANH THU Customer Service Representative - Vietnamese Speaking

100.

91.

92.

93.

94.

95.

96.

Brief Job Description: Provide customer care, when necessary, keep updated knowledge of accounts policies and products.

HOANG, VIET BAC Customer Service Representative - Vietnamese Speaking

101.

Brief Job Description: Provide customer care when necessary. Keep updated knowledge of account policies and products.

NGUYEN THI HOAI THU Customer Service Representative - Vietnamese Speaking Brief Job Description: Provide customer care when necessary. Keep updated knowledge of account policies and products.

NGUYEN, THI NGOC DIEM Customer Service Representative - Vietnamese Speaking Brief Job Description: Provide customer care when necessary. Keep updated knowledge of account policies and products. TU THAI VINH Customer Service Representative - Vietnamese Speaking Brief Job Description: Confirm customers language preferences as you assist them.

VO CAT TRUNG Customer Service Representative - Vietnamese Speaking Brief Job Description: Provide customer care when necessary. Keep updated knowledge of account policies and products.

NGUYEN VAN SANG Head Chef 97.

Brief Job Description: Supervises all food services function in public areas on the dining room/resto.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A bachelor’s degree holder in a field like communications or marketing and several years of work experience. Salary Range: Php 30,000 - Php 59,999

102.

103.

Basic Qualification: A bachelor’s degree holder in a field like communications or marketing and several years of work experience.

104.

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

Brief Job Description: Scanning through information to identify pertinent information. WEI, SIJUN Chinese Speaking Data Entry Clerk

105.

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

106.

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

107.

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

108.

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

109.

Brief Job Description: Scanning through information to identify pertinent information. ZHU, LIPENG Chinese Speaking Data Entry Clerk

110.

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

111.

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

XU, ZANYE Chinese Speaking Graphic Designer 112.

Brief Job Description: Planning concepts by studying relevant information and materials. HUA, WENLONG Chinese Speaking Program Designer

113.

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

Basic Qualification: Bachelor’s degree or equivalent from an accredited culinary or hospitality school.

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

Basic Qualification: At least College Graduate, and Vietnamese language speaking. Salary Range: Php 30,000 - Php 59,999

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

Basic Qualification: A bachelor’s degree holder in a field like communications or marketing and several years of work experience. Salary Range: Php 30,000 - Php 59,999

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

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: A bachelor’s degree holder in a field like communications or marketing and several years of work experience.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: A bachelor’s degree holder in a field like communications or marketing and several years of work experience.

Brief Job Description: Ensure all Overseas Junket and Premium Direct customers enjoy a positive experience in a welcoming and entertaining environment through providing an exceptional level of customer understanding and service which meets their expectations and engenders brand loyalty.

FENG, BO Chinese Speaking Data Entry Clerk

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least College Graduate, and Vietnamese language speaking.

QUALIFICATION AND SALARY RANGE Basic Qualification: High School, diploma or GED or equivalent, and familiarity with telephone.

No.

Basic Qualification: College graduate. With at least 5 years of work experience the gaming industry, particularly in the sections of elite services, premium direct and junket operations. With excellent English language communications skills.

115.

114.

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.

116.

117.

118.

119.

Basic Qualification: With at least 6 months of work experience and good in verbal communication and written. 120.

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.

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

Basic Qualification: Knowledgeable in computer application with good verbal and written communication skills.

FOON MENG SING Malaysian Customer Service

Basic Qualification: With at least 6 months of work experience and 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.

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

NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg., Aseana Avenue, Entertainment City, Tambo, City Of Parañaque 1331 Pearl Plaza Bldg., 133 Quirino Ave., Tambo, City Of Parañaque

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

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

QUALIFICATION AND SALARY RANGE

WONG SIONG WEI Chinese Speaking Program Designer

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGUYEN VAN QUYNH Chinese Speaking Program Designer

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

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

KNW TECHNOLOGY INC. 103 Equinox Plaza, Sierra Madre, Highway Hills, City Of Mandaluyong

NGUYEN DO HIEU Account Coordinator

Brief Job Description: Diagnosing computer issues, installing and training end users.

ESTABLISHMENT / ADDRESS

MELCO RESORTS LEISURE (PHP) CORPORATION City Of Dreams Manila, Aseana Ave. Cor. Roxas Blvd., Tambo, City Of Parañaque

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

Basic Qualification: Bachelor’s degree in Accounting, Marketing, Sales, or a related field. Vietnamese language speaking required.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

121.

Brief Job Description: Customer support and data base services.

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

DIEP VU KHANG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

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

NGUYEN, THI TRA GIANG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

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

PHAM THI NGAN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

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

VONG SAY MAN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

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

NIPPON SIGNAL MANILA BRANCH OFFICE 6th Floor Gcy Tower, 1045 Metropolitan Ave., San Antonio, City Of Makati

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

KUMAR, VIKASH Deputy Project Manager

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

Brief Job Description: Manage overall project activities which includes design, interface coordination, procurement, installation supervision, testing and commissioning. Ensuring that projects are completed on time and within budget by communicating regularly with project managers, team leaders and other stakeholders.

122.

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

Basic Qualification: College graduate. With excellent communication skills. With previous work experience in a relevant field. Salary Range: Php 150,000 - Php 499,999

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

PLDT INC. Ramon Cojuangco Bldg., Makati Avenue, San Lorenzo, City Of Makati

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

Brief Job Description: Provide technical advisory services, including review of Request for Information (RFI) on introducing Open Radio Access Network, a concept based on interoperability and standardization of Radio Access Network elements including interconnection standard for white-box hardware and open-source software elements from different vendors.

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

ITO, TAKAFUMI Senior Enterprise Advisor

123.

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

HARADA, HIDEYUKI Technical Development Advisor

124.

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

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Holder of a Bachelor of Arts in Sociology. With technical knowledge and global/international experience on industry standards and advanced fundamental on Cloud, AI and IOT. Salary Range: Php 150,000 - Php 499,999

SHANGHAI SHENGKAI BUILDERS CO. LTD. CORPORATION Eastfield Center, D. Macapagal Blvd., Moa Complex, Barangay 76, Pasay City ZHAO, JIAN Director 125.

Brief Job Description: Determining and implementing policies and making company decisions.

Basic Qualification: Appointed by the Board of Directors. Salary Range: Php 30,000 - Php 59,999

SOURCEFIT PHILIPPINES INC. 21st Flr. Cyber One Bldg., Eastwood Cyberpark, Bagumbayan, Quezon City SCHACHTEL, ANDREW LEE President And CEO 126.

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

Basic Qualification: Executive MBA holder. Fluent in Japanese language. With at least 20 years of extensive international experience in the Telco and ICT industries.

Brief Job Description: Direct the company in keeping with the vision outlined for the company by the Board of Directors. Partner with high level officers to grow the company, strengthen and ensure the company’s sustainability.

Basic Qualification: College graduate. Appointed by the Board of Directors. Salary Range: Php 500,000 and above

WYC FUNTRIP TRAVEL AND TOURS INC. Unit E & F Avr. Bldg., Beaterio St., 069, Barangay 655, Intramuros, City Of Manila

127.

XU, CAIFENG Chinese Marketing Assistant Brief Job Description: Study company profile, and conduct market research.

Basic Qualification: College graduate, and fluent in Mandarin and English languages. Salary Range: Php 30,000 – Php 59,999

*Date Generated: Dec 20, 2023 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.

Thursday, December 21, 2023

www.businessmirror.com.ph • Editor: Jennifer A. Ng

Planters plead for help as sugar prices decline By Jasper Emmanuel Y. Arcalas

@jearcalas

UGAR groups are calling on the Marcos administration to undertake the necessary interventions that will prevent sugarcane farmers, particularly smallholders, from suffering losses as farmgate prices continue to decline. “We urgently appeal to President Ferdinand Marcos Jr. thru Agriculture Secretary Francisco Tiu Laurel Jr and Sugar Regulatory Administrator Pablo Luis S. Azcona to adopt measures to stop the decline in farmgate sugar prices and bring retail prices to more reasonable levels, even as the industry continues to seek ways to remain viable in the face of adversity,” the Sugar Council said in a

recent statement. The Sugar Council is a group composed of three sugar industry federations: the Confederation of Sugar Producers’ Associations Inc. (Confed), the National Federation of Sugarcane Planters (NFSP) and the Panay Federation of Sugarcane Farmers (Panayfed). The group said they account for more than half of the national sugar output. The Sugar Council lamented

BLOOMBERG NEWS

the continuous drop in the farmgate prices of raw sugar, which has fallen below break-even level. “With production and labor costs on the rise, farmers are hard-pressed to remain viable at today’s low millgate prices. Despite the price decline, however, the prevailing retail sugar prices have remained high at P80 [per

kilogram] for raw and P100 [per kilogram] for refined, which benefit neither farmers nor consumers,” the group said. The group claimed that the domestic market is withdrawing more imported sugar than domestic stocks, resulting in lower demand for locally-produced sugar. “When there is weak demand

PHL, other states pledge funds to replenish Ifad resources

HE Philippines and 47 other member states have pledged $1.076 billion to replenish the core resources of the International Fund for Agricultural Development (Ifad). Manila has committed to contribute $1 million to Ifad’s fund. Ifad said the pledges of member states will put the organization on track to “positively impact the lives of millions of rural people across the globe.” “Many of the pledges were made during a fourth replenishment session hosted in Paris over the last two days by Angola and France,” Ifad said in a statement it released last December 15. Ifad said 10 countries have increased by more than 50 percent from their previous contribution, and 31 countries have committed to their highest contribution ever, marking a record level of financing achieved for its 2025-2027 program of work. “This is a clear sign of the confidence member states have in Ifad, and the importance they place on our ability to deliver results

and impact through targeted investments that transform agriculture, rural economies and food systems,” said Alvaro Lario, president of Ifad, following the pledging session in Paris. “They understand that investing in rural people and small-scale producers, who produce one third of the world’s food and up to 70 percent of the food in low and middle-income countries, is the only path to a food secure future.” Ifad launched its 13th replenishment in February 2023, calling for increased investments in small-scale farmers and rural people across developing countries. Its resources are replenished every three years by member states. The consultation culminated in a pledging session in Paris. Fundraising will then continue during 2024. Typically, over 100 countries contribute to Ifad’s replenishments, making it the most widely supported of all the major international financial institution replenishments. “I am humbled by the positive momentum from

today’s session and confident that Ifad’s ambitious call to mobilize $2 billion in new funding to support a $10-billion program of work and impacting over 100 million rural people will be achieved in the coming months,” said Lario. Ifad’s member states have demonstrated their record-breaking support and Ifad’s pivotal role in revitalizing the 2030 Agenda of Sustainable Development Goals through investing in rural people. “We rely on Ifad to ensure the resilience we seek to build, taking into account climate change and all other factors that hinder our development,” said Carmen do Sacramento Neto, Minister of Fisheries and Marine Resources, Angola, at the opening of the session. “There has been an improvement in the living conditions of rural and fishing populations where the Ifad project [was implemented] and it has had a significant impact. We announce that Angola will maintain its contribution and increase it in the coming years as a clear sign of our

commitment.” “Developing countries don’t need external support, but agricultural and food independence. This is where Ifad must play a key role in reversing the trend. Ifad is a decisive player. It enables the development of the most vulnerable countries, and above all it supports what is at the heart of our ambition: structural transformations in agriculture,” said Bruno Le Maire, Minister of Economy, Finance and Industrial and Digital Sovereignty, France, at the high-level session. Collaborating with member states, Ifad invests in rural development and across food systems to help small-scale farmers produce more food and in greater variety, access markets, apply new technologies and adapt to climate change. “Ifad ensures that member state contributions reach those who need it the most, with 45 percent in total concessional financing going to low-income countries and at least 30 percent of core resources dedicated to fragile situations.”

for local refined sugar brought about by the abundance of cheaper imported sugar, it leads to weakened demand for raw sugar, which ultimately results in low millgate sugar prices.” Citing Sugar Regulatory Administration data, the Sugar Council said 67 percent of the 232,279 metric tons (MT) of refined sugar withdrawal, or about 156,025 MT, as of November 19 were imported stocks while the remaining 33 percent or about 76,254 MT were locally-produced supplies. “This almost 70:30 ratio bet ween impor ted a nd loca l lyrefined sugar withdrawal has consequently dampened demand for domestically-produced sugar, as the Council noted that about 40 percent of domestic sugar consumption is normally converted to refined sugar for the consumption of food processors and industrial users.” The group urged the government to “exert its best efforts” in ma inta ining a “ ba l anced ”

supply-and-demand situation nationwide, citing the mandate of the SR A. The group reiterated its call for a “transparent” and “rationallycalibrated” sugar importation program that is based on historical figures and current market movements. It added that the importation program must be a result of a “consultation with all stakeholders of the industry.” The Sugar Council also called on ot her sugarcane industr y stakeholders to collaborate with the government in crafting the correct policy and regulations to “enhance the long-term viability of the industry.” “The survival of the industry rests on our ability to jointly adopt measures that ensure the viability of all its stakeholders, especially the small farmers. Towards this end, the Sugar Council seeks earnest and genuine solution-seeking dialogue with government and other stakeholders at the earliest possible time.”

IAs get excavators worth ₧776M from govt

HE National Irrigation Administration (NIA) recently distributed excavators costing P776 million to various irrigators’ associations (IAs) in the country. The excavators were turned over to the IAs during a ceremony held at the Naval Supply Depot Compound in Subic Bay Freeport Zone, Olongapo City. The NIA, an attached corporation of the Department of Agriculture (DA), procured 141 units of excavators under the first tranche, specifically: 102 units of 0.5 cubic excavators, 17 units of 1 cubic excavators, 17 units of long arm excavators, and 5 units of amphibious excavators. “Ang mga ito po ay gagamitin ng ating irrigators’ associations para sa desilting ng kanilang canals, para sa pag -repair ng kanilang irrigation, para po ito ay lalong makatulong sa pagpapaunlad ng ating food security,” DA-NIA Acting Administrator Eduardo Eddie Guillen said. Aside from augmenting the country’s inventory of machines and resources, the equipment refleeting program also aims to undertake and intensify regular operation and maintenance of national irrigation systems. The program seeks to immediately repair or construct irrigation facilities damaged by natural disasters. With a total budget of P2.59 billion, the 3-year program is divided into three tranches. For the implementation of the second tranche, more than P782 million was dedicated to the purchase of 138 units of excavators of various models, 28 units of dump trucks, and 17 units of truck-tractors with trailer. Meanwhile, the third and final

tranche will entail the procurement of various types of heavy equipment with a funding of over P1.03 billion. President Ferdinand Marcos Jr. said effective irrigation systems can boost local agricultural production by 30 percent. The 141 units of NIA-procured excavators will also improve the country’s 257 NIS and 10,144 communal irrigation, further increase productivity and profitability of local farmers nationwide. “[The Equipment Refleeting Program] reflects our continuing commitment to develop and utilize our land to the fullest—a commitment that we embrace and take very seriously. To ensure productive and efficient use of our agricultural land, it is imperative for us to continue restoring and maintaining our irrigation systems,” the President said. Taking on a whole-of-nation approach, Marcos also urged various government agencies—specifically DA, the NIA, Department of National Defense, and Department of Environment and Natural Resources—to accelerate construction of irrigation facilities and ensure continuous water supply, especially with the forecasted El Niño phenomenon by the first quarter of 2024. “Rest assured that we will continue to explore all possibilities for the continuous distribution of water to ensure that our lands remain fertile and productive. Let us continue to unite and work together. Let us develop, modernize, and improve our agriculture sector so we can achieve a food-secure and prosperous future for all Filipinos.”

Brazil pulls ahead of US as biggest supplier of corn to China

RAZIL has overtaken the United States as the leading shipper of corn to China, just a year after the world’s top importer gave the go-ahead for supplies from the South American country. Cargoes from Brazil amounted to 8.79 million tons in the 11 months through November, or 40 percent of the overall total of 22.18 million tons, according to customs data. US shipments came in at 6.50 million tons, almost 30 percent of the total, and down by more than half from a year earlier. Once dependent on the US and Ukraine, China sought to diversify suppliers as purchases surged, a move that coincided with a record crop in Brazil. Chinese imports have exceeded 20 million tons for three straight years as the country looked to replenish stockpiles, while satisfying demand from the livestock feed and processing industries. “Brazil had a bumper harvest

and their corn was cheap,” said Cherry Zhang, an analyst with Shanghai JC Intelligence Co. “The countries also have friendly relations.” Traders booked a large amount of the grain from the country earlier this year and now those cargoes are arriving, she said. Overall corn imports in November were the highest on record in data going to back to 2005. Beijing signed a deal with Brazil last year to buy the country’s corn, with the first shipment arriving in January. Imports from Brazil in December are expected to total at least 1.5 million tons, and they are likely to stay high in the new year, according to Shanghai JC estimates. Lower corn prices in Chicago and logistical issues restricting Brazilian exports could start to push traders back to US supplies, traders and analysts said. Whichever origin is more attractive, suppliers will have to grapple with a weak domestic

market. Corn futures on the Dalian Commodity Exchange are down 16 percent in 2023, and at their lowest level in more than three years. “Pessimism is pervading the market,” China brokerage Holly Futures said in a note. “Farmers face a lot of pressure selling their grain, while downstream traders are reluctant to build stockpiles.” Even though China has an enormous appetite for the grain, the main consumers—livestock farmers and processors—are struggling to make profit, casting a shadow over the strength of demand going forward.

Critical minerals

AUSTR ALIA wants to compete with China in producing and refining resources vital to the next phase of high-tech manufacturing around the world, according to Minister Madeleine King, backing the country’s bid to build its critical minerals capability.

When asked about the possibility of greater Chinese investment in the sector, Resources Minister King said while Australia was receptive to proposals, the government sought to build up the domestic industry. “The reason we want to make sure that we hold more critical minerals capabilities here, in refining, in processing, and further down the line, is to compete with China,” King said in a phone interview on Tuesday. “That’s not a bad thing.” Since coming to power in May 2022, Australia’s center-left Labor government has ramped up investment in minerals including lithium, cobalt and titanium, which are vital for global green energy infrastructure and the defense manufacturing. King’s remarks come days after Australia expanded its list of resources deemed crucial to its energy transition and national security needs. Australia has some

A FARMER picks corn during a harvest at a farm in Correntina, Bahia state, Brazil, on Monday, September 20, 2021. DADO GALDIERI/BLOOMBERG

of the world’s largest reserves of the critical resources, sparking interest from nations keen to diversify their supply chains given China’s substantial head start in processing. In recent months, Australia has boosted cooperation with countries including the US on critical minerals. However as relations between Beijing and Canberra warmed, China has pushed for greater access for its investors, including in the mining sector. Ambassador Xiao Qian said in October he wanted to see a more hospitable environment for Chinese investors while top diplomat Liu Jianchao warned during a November visit that his country’s

firms didn’t see “a clear future” for investment. About half of the government’s A$4 billion ($2.6 billion) financing facility to build up the critical minerals capacity has already been spent, and there may be a need for further state funding, King said. The department was looking into strategic critical minerals hubs across Australia to concentrate mining and refining in specific areas, where they could share infrastructure assets, she said. The minister said the expense of indiv idual companies constructing roads and rail infrastructure to service their operations could dramatically push up the cost of projects. Bloomberg News

A10 Thursday, December 21, 2023

TheWorld BusinessMirror

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

Israeli airstrikes kill dozens more Palestinians across the Gaza Strip By Najib Jobain, Samy Magdy & Jack Jeffery

The Associated Press

AFAH, Gaza Strip—The Israeli army has raided and detained staff at two of the last functioning hospitals in Gaza’s north, where the defense minister said Tuesday that troops were working to completely clear out Hamas militants.

PALESTINIANS search for bodies and survivors in the rubble of a residential building destroyed in an Israeli airstrike, in Rafah, southern Gaza Strip on Tuesday, December 19, 2023. AP/FATIMA SHBAIR

Israel bombarded towns across southern Gaza Tuesday with airstrikes, killing at least 45 Palestinians and pressing ahead with its offensive with renewed backing from the United States, despite rising international alarm. The Israeli defense minister, Yoav Gallant, warned the campaign in Gaza’s south will persist for months. In a hospital in the southern town of Rafah, Mahmoud Zoarab bid farewell to his two children—a 2-year-old boy, and a girl born two weeks ago—killed in a predawn strike on their home. Wounded in the strike, he winced as he peeled back the shrouds to look at their faces as his wife and mother stood by his bed. “Just two weeks old. Her name hadn’t even been registered,” said the children’s grandmother, Suzan Zoarab. Addressing Israeli Prime Minister Benjamin Netanyahu, she cried, “Does he think that by killing these children he will achieve something? Have they succeeded now? Has he achieved what he wants?” Defense Minister Gallant said Israeli forces were entering Hamas’ tunnel network in northern Gaza as part of a “final clearing” of militants from the region. The densely built urban north, including Gaza City, has seen ferocious fighting between troops and militants, with Palestinian health officials reporting dozens of people killed in bombardment in recent days. Israeli troops have raided a series of hospitals and shelters in the north, detaining men in a search for militants and expelling others

taking refuge there. Gallant said that in southern Gaza, operations will take “months,” including the military’s assault on Khan Younis, the territory’s second largest city. “We will not stop until we reach our goals,” he said. After meeting with Israeli officials Monday, US Defense Secretary Lloyd Austin urged Israel to protect civilians but reiterated America’s support for Israel in its war against Hamas, saying he was “not here to dictate timelines or terms.” Austin’s remarks signaled that the US would continue shielding Israel from growing international calls for a cease-fire as the UN Security Council again delayed a vote—and would keep providing aid for one of the 21st century’s deadliest military campaigns.

Strikes across Gaza

SUZAN ZOARAB said her family was asleep when their home was hit before dawn. “We found the whole house had collapsed over us.” Twenty-seven people were killed in the strike, along with at least three others in a separate strike in Rafah, according to Associated Press journalists who saw the bodies arrive at two local hospitals early Tuesday. Rafah, which is in the southern part of Gaza and where Israel has told Pa lestinians to seek shelter, has been repeatedly bombarded, often killing large numbers of civilians. Israel said Tuesday it had killed a prominent Hamas financier in an airstrike

on R afah, without specif ying when it occurred. In central Gaza, at least 15 people were killed in strikes overnight, according to hospital records. Among the dead were a mother and her four children, who were killed as they sat around a fire, according to an AP reporter who filmed the aftermath. Fierce battles also raged in northern Gaza, which has been reduced to a wasteland seven weeks after Israeli tanks and troops stormed in. The military said Tuesday its forces took “operational control” of the urban refugee camp of Jabaliya. Israel has killed hundreds of Hamas militants there and detained another 500 suspected militants, according to a statement from division commander Brig. Gen. Itsik Cohen. The claims could not be independently confirmed. Footage online showed a scene of devastation after a strike that hit a local charity in Jabaliya, with several torn bodies near a donkey cart on a street filled with rubble and twisted metal. At least 27 people were killed in that strike and others in the district Tuesday, according to Munir al-Bursh, a senior Health Ministry official. The Health Ministry in Hamasrun Gaza said Tuesday the death toll since the start of the war had risen to more than 19,600. It does not distinguish between civilian and combatant deaths. Hamas has continued to put up stiff resistance and lob rockets at Israel. The militants said they fired a barrage toward Tel Aviv on Tuesday, and air raid sirens went off in central Israel. There were no immediate reports of casualties or damage. The war began after Hamas and other militants killed some 1,200 people in Israel, mostly civilians, and abducted 240 others. Israel’s military says 131 of its soldiers have been killed in the Gaza ground offensive. Israel says it has killed some 7,000 militants, without providing evidence, and blames civilian deaths on Hamas, saying it uses them as human shields when it fights in residential areas.

Hospital raid

ISRAELI forces raided the Al-Ahli Hospital in Gaza City overnight, according to the church that operates it, destroying a wall at its front entrance and detaining most of its staff. The facility was the scene of an explosion early in the war that killed dozens of Palestinians, and which an Associated Press investigation later determined was likely caused by a misfired Palestinian rocket. Don Binder, a pastor at St. George’s A nglican Cathedra l, which runs the hospital, said the raid left just two doctors, four nurses and two janitors to tend

to over 100 seriously wounded patients, with no running water or electricity. Binder said an Israeli tank was parked on the rubble at the hospital’s entrance, blocking anyone from entering or leaving. Israeli troops seized northern Gaza’s Al Awda hospital on Sunday after besieging it for 12 days, the international aid group Doctors Without Borders said Tuesday. The troops stripped, bound and interrogated all males over 16, including six of the group’s staff, it said. Most were sent back into the hospital, which the troops still hold, with dozens of patients inside but no essential supplies, it said. There was no immediate comment from the Israeli military about the hospital raids. Forces have raided other hospitals across northern Gaza, accusing Hamas of using them for military purposes. Hospital staff have denied the allegations and accused Israel of endangering critically ill and wounded civilians.

Security Council again postpones vote on truce proposal

UN Security Council members continued intense negotiations on an Arab-sponsored resolution to spur desperately needed humanitarian aid deliveries to Gaza during some kind of a halt in the fighting. A vote on the resolution, first postponed from Monday, was pushed back again until Wednesday as talks continued to get the US to abstain or vote “yes” on the resolution after it vetoed an earlier cease-fire call. France, the United K ingdom and Germany—some of Israel ’s c losest a l l ies — joi ned g loba l calls for a cease-fire over the weekend. In Israel, protesters h ave c a l led for negot i at ions with Hamas to facilitate the release of scores of hostages still held by the group. CIA Director William Burns met in Warsaw with the head of Israel’s Mossad intelligence agency and the prime minister of Qatar on Monday, the first known meeting of the three since the cease-fire and the release of some 100 hostages in a deal they helped broker. But US National Security Council spokesperson John Kirby said the talks were not “at a point where another deal is imminent.” Hamas and other militants are still holding an estimated 129 captives. Netanyahu has insisted that Israel will keep fighting until it ends Hamas rule in Gaza, crushes its military capabilities and frees all the hostages taken during the October 7 attack. Magdy and Jef fer y reported from Cairo. Associated Press writers Tia Goldenberg in Tel Aviv, Israel, and Melanie Lidman in Jerusalem contributed.

NORTH Korean Ambassador to the United Nations Kim Song addresses a Security Council meeting on Non-proliferation/North Korea on July 13, 2023, at United Nations headquarters. North Korea and Russia clashed with the United States, South Korea and their allies at an emergency UN Security Council meeting on Tuesday, December 19, on Pyongyang’s latest intercontinental ballistic missile launch, which it called “a warning counter-measure” to threats from the US and other hostile forces. Song called this “the most dangerous year” for security on the Korean Peninsula on Tuesday. AP/MARY ALTAFFER

N. Korea and Russia clash with US, South Korea and allies over Pyongyang’s latest missile launch By Edith M. Lederer The Associated Press

NITED NATIONS—North Korea and Russia clashed with the United States, South Korea and their allies at an emergency UN Security Council meeting Tuesday on Pyongyang’s latest intercontinental ballistic missile launch, which it called “a warning counter-measure” to threats from the US and other hostile forces. North Korean Ambassador Kim Song said this is “the most dangerous year” in the military-security landscape on the Korean Peninsula, pointing to stepped up US-South Korean military exercises and the US deployment of nuclear-powered submarines and other nuclear assets to the area that have raised a “nuclear war danger.” The US and nine allies pointed to five North Korean ICBM launches, over 25 ballistic missiles launches and three satellite launches using ballistic missile technology this year, violating multiple Security Council resolutions and threatening “the peace and stability of its neighbors and the international community.” In a statement read just before the council meeting by US Deputy Ambassador Robert Wood, surrounded by diplomats from the other countries, the 10 countries condemned the latest ICBM launch on December 18 and all launches before it. Kim urged the international community to think about North Korea’s security concerns, calling its counter-measures an “absolutely reasonable, normal and reflective response” in exercise of its legitimate right to self-defense. He warned the US and South Korea that if they continue “with their reckless and irresponsible military threat,” North Korea’s armed forces “will never remain an onlooker to it and the provokers will be held entirely responsible for all the consequences.” North Korea will also “continue to build up its strategic power of a more advanced type to contain and control any threat from the US and its followers with immediate, overwhelming and decisive counter-measures,” Kim warned. The Security Council imposed sanctions after North Korea’s first

nuclear test explosion in 2006 and tightened them over the years in a total of 10 resolutions seeking—so far unsuccessfully—to cut funds and curb its nuclear and ballistic missile programs. The council adopted the last sanctions resolution in December 2017. China and Russia vetoed a US-sponsored resolution in May 2022 that would have imposed new sanctions over a spate of intercontinental ballistic missile launches. And the two veto-wielding council members have blocked any council action, including media statements, since then. The 10 countries—Albania, Ecuador, France, Japan, Malta, South Korea, Slovenia, Switzerland, the United Kingdom and the United States—said silence from the Security Council “sends the wrong message to Pyongyang and all proliferators.” They urged North Korea to abandon its unlawful nuclear and ballistic missile programs, “and instead invest in feeding the people in North Korea” and engage in diplomacy. They also urged all Security Council members to overcome their prolonged silence and uphold the nuclear nonproliferation regime. Russia’s deputy U.N. ambassador Anna Evstigneeva called attempts to condemn Pyongyang “a one-sided approach.” She warned that the situation is escalating “to a dangerous brink,” pointing to both Pyongyang and Seoul justif ying their hostile moves as self-defense. And she accused the United States of deploying its massive military machine in the region, saying this looks “more and more like preparations for an offensive operation,” even though the US says it has no hostile intentions. Evstigneeva said Russia again calls for a peaceful settlement of all issues on the Korean Peninsula through political and diplomatic means “without external pressure.” Wood, the US deputy ambassador, countered that US military exercises are defensive and it’s North Korea that has violated UN Security Council resolutions—not South Korea, Japan or the US. And he said the United States has tried repeatedly to have an unconditional dialogue with Pyongyang but it has refused.

Putin ratchets up military pressure on Ukraine expecting Western support for Kyiv to dwindle By The Associated Press

FTER blunting Ukraine’s counteroffensive from the summer, Russia is building up its resources for a new stage of the war over the winter, which could involve trying to extend its gains in the east and deal significant blows to the country’s vital infrastructure. Russian President Vladimir Putin seems to be hoping that relentless military pressure, combined with changing Western political dynamics and a global focus on the Israeli-Hamas war, will drain support for Ukraine in the nearly 2-year-old war and

force Kyiv to yield to Moscow’s demands. “As far as the Russian leadership is concerned, the confrontation with the West has reached a turning point: The Ukrainian counteroffensive has failed, Russia is more confident than ever, and the cracks in Western solidarity are spreading,” said Tatiana Stanovaya, senior fellow with Carnegie Russia Eurasia Center, in a recent analysis. An aid package for Ukraine has stalled in the US Congress as Republicans insist on linking any more money to US-Mexico border security changes opposed by Democrats. The European Union last week failed to agree on

a $54 billion package in financial help that Ukraine desperately needs. Amid these signs of fraying Western support, Russia has ramped up its pressure on Ukrainian forces on several parts of the more than 1,000-kilometer (620-mile) front line. “The Russian military since October has been trying to seize initiative across the front in a couple of areas,” said Michael Kofman, a military expert with the Carnegie Endowment. Ukraine’s military needs to reconstitute and regenerate its combat effectiveness after a grueling five-month counteroffensive, he said.

“Ukrainian forces, while motivated, are exhausted,” Kofman said in a recent podcast. “They’ve lost a lot of units of action. They’ve lost a lot of assault capable troops.” One area where Russia has maintained steady pressure is the northeastern city of Kupiansk, a strategically important rail hub that Moscow captured early in the war and then lost in a Ukrainian counteroffensive in September 2022. While Russian forces have failed to make any significant gains in the area, Ukraine has had to maintain a significant force to protect the city. Starting in early October, Russian troops also have launched an offensive

around Avdiivka, a town near Donetsk, the center of the region that was seized by Moscow-backed rebels in 2014 and illegally annexed by Russia in 2022 with three other Ukrainian regions. Ukraine has built multiple defenses in Avdiivka, complete with concrete fortifications and a web of underground tunnels, allowing them to repel fierce Russian attacks. Despite massive losses, Russian troops have inched forward steadily, seeking to envelop Avdiivka and cut Ukrainian supply lines. That battle has evolved into a gruesome grind for both parties and has been

compared to the fighting for Bakhmut, the war’s longest and bloodiest battle that ended with Russia capturing it in May. The Kremlin and the Russian Defense Ministry are silent about specific plans, but some Russian war bloggers say Moscow could launch a massive offensive of its own to forge deep into Ukrainian territory. Others warn, however, that the Russian military lacks resources for any such big push, saying that would require many more troops and weapons, exposing it to the same risks that doomed initial Russian attempts to capture Kyiv and other cities in the northeast at the start of the war.

TheWorld BusinessMirror

www.businessmirror.com.ph

Thursday, December 21, 2023 A11

Activists hope pope’s approval of same-sex blessings will ease anti-LGBTQ+ repression By Nicole Winfield

The Associated Press

OME—Pope Francis’ green light for Catholic priests to offer blessings to same-sex couples is in many ways a recognition of what has been happening in some European parishes for years. But his decision to officially spell out his approval could send a message of tolerance to places where gay rights are far more restricted. From Uganda to the United States, laws that discriminate against LGBTQ+ people or even criminalize homosexuality have increased in recent years, leaving communities feeling under attack. Pastors in some conservative Christian denominations, and the Catholic Church in particular, have sometimes supported such measures as consistent with biblical teaching about homosexuality. In Zimbabwe, a country with a history of state harassment of LGBTQ+ people and a constitutional ban on same-sex marriage, news of Francis’ approval was met with cautious optimism among activists. But Chesterfield Samba, director of Zimbabwe’s GALZ association, which represents LGBTQ+

people, said same-sex unions would likely remain taboo regardless of the pope’s stance. “Christians here are of the view that they are devoid of sin and cannot be aligned with LGBTQ+ people,” Samba told The Associated Press. By contrast, a Catholic priest in the United States—Alex Santora of Hoboken, New Jersey—was elated by the pope’s declaration, hoping it would clear the path for him to bless a same-sex couple who had been part of the parish throughout his 19-year tenure there. The Vatican says gays should be treated with dignity and respect but that homosexual acts are “intrinsically disordered.” Francis hasn’t changed that teaching, but he has spent much of his 10year pontificate offering a more

welcoming attitude to LGBTQ+ Catholics. The Vatican statement Monday marked a new step in Francis’ campaign, explicitly authorizing priests to offer non-sacramental blessings to same-sex couples. The blessings must in no way resemble a wedding, which the church teaches can only happen between a man and woman. The Rev. Wolfgang Rothe, a German priest who participated in open worship services blessing same-sex couples in May 2021, said Tuesday that the approval essentially validated what he and other priests in Germany have been doing for years. But he suggested it would make life easier for homosexual couples in more conservative societies. “In my church, such blessings always take place when anyone has the need,” Rothe said. But “in many countries around the world there are opposing moves to maintain homophobia in the church,” he added. “For homosexual couples living there, the document will be a huge relief.” In Nigeria, authorities arrested dozens of gay people in October in a crackdown that human rights groups said relied on a same-sex prohibition law. Nigeria is among 30 of Africa’s 54 countries where homosexuality is criminalized with broad public support, though its constitution guarantees freedom from discrimination. Uganda’s president this year

Myanmar ethnic group seizes major crossing point along the Chinese border, reports say The Associated Press

ANGKOK—An ethnic armed group in northeastern Myanmar has seized a major crossing point for trade along the Chinese border, residents and media reports said. The border gate in Laukkaing township, the capital of the Kokang Self-Administered Zone in the northern part of Shan state, became the fifth crossing seized by the group since it launched a coordinated offensive on October 27 with two other ethnic armed groups. The Myanmar National Democratic Alliance Army, which took control of the crossing, joined with the Ta’ang National Liberation Army and the Arakan Army for the offensive that began in October and call themselves the Three Brotherhood Alliance. Laukkaing is known for hosting major organized criminal enterprises including cyberscam operations controlled by Chinese

investors in cooperation with local Myanmar warlords. The Chinese government in recent weeks has initiated a crackdown on these operations, and thousands of people involved have been repatriated to China. Many of those who were employed were tricked into working there and then held against their will. The MNDAA is a military group of the Kokang minority that is trying to oust a rival Kokang group, backed by the military government, from power in the town. A Laukkaing resident told The Associated Press late Tuesday that the Yan Lon Kyaing border gate was seized on Monday after members of the army-affiliated militia guarding the gate laid down their weapons. He spoke on condition of anonymity for fear of reprisals from the army and the ethnic armed group. Another Laukkaing resident who also

asked not to be identified for fear of being arrested said he saw MNDAA troops near the trading gate on Monday. Shwe Phee Myay News Agency, a Shanbased online media group, reported Tuesday that a resident saw MNDAA’s flags flying at the gate. There were similar reports in other Myanmar media. The Associated Press reached out to MNDAA representatives seeking confirmation of the reports but received no response. The alliance’s attacks since October have posed a challenge Myanmar’s military government, which has struggled to contain a nationwide uprising by members of the Peoples’ Defense Force, a pro-democracy armed group established after the army seized power from the elected government of Aung San Suu Kyi in February 2021. The alliance has claimed several victories, including the seizure of more than 200 military posts and four border crossing

signed into law anti-gay legislation that prescribes the death penalty for “aggravated homosexuality,” which is defined as sexual relations involving people infected with HIV, as well as with minors and other vulnerable people. In the United States, the Human Rights Campaign has identified an “unprecedented and dangerous” spike in discriminatory laws sweeping statehouses this year, with more than 525 antiLGBTQ+ bills introduced. “Given the homophobic and t r a n s phobic c l i m ate c reated by many bishops in the United States, the average same-sex couple likely still won’t feel comfortable presenting themselves to their local bishop or priest to ask for a blessing,” said Jamie Manson, a lesbian and president of Catholics for Choice. Starting from his famous “Who am I to judge?” comment in 2013 about a purportedly gay priest, Francis has evolved his position to increasingly make clear that everyone is a child of God, is loved by God and welcome in the church. In January, Francis told The Associated Press: “Being homosexual is not a crime.” Raul Pena, a spokesman for Crismhom, Madrid’s main Catholic LGBTQ+ association, said small-town, conservative dioceses in rural Spain could benefit from Francis’ message. “If the priest from your town talks about gays being the devil in his sermons each Sunday, which some priests do, now you have the

points controlling crucial trade with China. It says it has killed hundreds of Myanmar army soldiers. The fighting has blocked cross-border trade and raised concerns in Beijing. It also threatens further political destabilization in Myanmar, a strategic ally to China that is embroiled in civil war in many parts of the country. China called for a cease-fire after the fighting escalated near its border. It also brokered peace talks between the military and the alliance, and announced on December 14 that the two sides had reached an agreement on a cease-fire. However, fighting has continued in at least five townships in the northern part of Shan. The Ta’ang National Liberation Army has claimed it captured two of the townships. The Kokang, an MNDAA-backed online media group, reported on its Facebook page that fighting in the Kokang region resumed on Tuesday after the military carried out aerial attacks against MNDAA outposts. Laukkaing residents also told the AP that fighting between the army and MNDAA broke out in the town while military aircraft dropped bombs on parts of the town on Tuesday.

Groups sue over law that lets police arrest migrants that illegally enter US By Acacia Coronado The Associated Press

USTIN, Texas—The White House and Mexico’s president on Tuesday came out strongly against a new Texas law that would allow police to arrest migrants who illegally cross into the US and empower local judges to order them to leave the country. Also Tuesday, civil rights groups and Texas’ largest border county filed a lawsuit, calling the measure that Republican Gov. Greg Abbott had signed into law less than 24 hours earlier an unconstitutional reach over the US government’s authority on immigration. The Texas law that takes effect in March could be a test of how aggressively a state can limit immigration amid a surge in illegal crossings in remote areas that has escalated pressure on Congress to reach a deal on

asylum. Abbott said Tuesday that Texas is going to such dramatic lengths because of frustration over the Biden administration’s immigration policies. White House press secretary Karine Jean-Pierre criticized the state’s approach as extreme and dehumanizing to immigrants. She would not say whether the Justice Department would challenge the law. “This is not who we are as a country,” she said. The lawsuit, filed in federal court in Austin, was brought by El Paso County along with the American Civil Liberties Union and the Texas Civil Rights Project. It was filed against the head of the Texas Department of Public Safety, whose troopers could arrest migrants, and the El Paso County district attorney, whose office would potentially prosecute cases in that border community. El Paso County District Attorney Bill Hicks said he woke up Tuesday morning having no

idea he would be sued by his own county. He told reporters that the lawsuit could reach the US Supreme Court, a scenario that some Texas Republicans welcome even as they defend the law as constitutional. A DPS spokesperson declined to comment in an email Tuesday, citing the pending litigation. Abbott signed the law Monday in front of a section of border fence in Brownville. He was flanked by two signs in English and Spanish: “Warning! It is illegal to cross here. Punishable by removal or imprisonment.” Republican state Rep. David Spiller, who carried the law in the Texas House, said in an interview Tuesday that the vast majority of arrests under the law would occur within 50 miles (80 kilometers) of the border, though it could be enforced statewide. He said there needs to be evidence of someone crossing illegally, whether it be an officer who witnesses it firsthand or footage from

border cameras. “I believe that Texas and other states have the absolute right to enforce their borders,” Spiller said. Illegal crossings have topped 10,000 on some days this month, according to US Customs and Border Patrol acting commissioner Troy Miller, who has called the number of daily arrivals “unprecedented.” The measure allows any Texas law enforcement officer to arrest people who are suspected of entering the country illegally. Once in custody, they could either agree to a Texas judge’s order to leave the US or be prosecuted on misdemeanor charges of illegal entry. Migrants who don’t leave could face arrest again under more serious felony charges. The Associated Press writers Paul Weber in Austin and Zeke Miller in Washington, D.C., contributed to this report.

pope signing a document saying that homosexuals who live as a couple can be blessed,” he said. “It’s a fundamental step for those hierarchies and for those people who are in places where being LGBT is difficult.” Santora, pastor of the Church of Our Lady of Grace in New Jersey, said the pope’s declaration would be welcome in a parish that celebrates an annual Pride Mass and has many LGBTQ+ parishioners. “This is a very important step, people realizing the church is finally recognizing the goodness of their lives,” he said. Santora wants to set a date soon to bless a same-sex couple that has been part of the church for many years. Santora recently learned that they had yearned for his blessing but feared getting him in trouble. “So this comes at the right time,” the priest said. “It’s a new way to set a date.” Santora worries, though, that some gay and lesbian Catholic couples in the US won’t be so fortunate. “There are priests, many of them young, who are behind the times—they won’t do this,” he said. “It’s going to cause more hurt in some communities.” Gary Stavella, a 70-year-old retiree, helps lead the LGBTQ+ outreach ministry at Our Lady of Grace. He said he was happy about the pope’s declaration, particularly on behalf of LGBTQ+ Catholics in

countries where homosexuality is criminalized. “There are a lot of anti-LGBTQ cardinals in those countries, and in ours,” Stavella said. “For their boss to say, ‘You can’t condemn them, you should bless them’ is a sea change. It can save lives.” Antonella Allaria, who lives in New York City with her wife, Amanda and their six-month-old son, said the pope’s decision is a positive step for her family and the church as a whole. “I’m gay and it’s OK to be a person and to be gay. Where before yesterday, in the Catholic Church, it was not that OK,” she said. “I feel things are getting normalized. And it’s about time.” Kimo Jung of Pittsburgh, a lifelong Catholic, met his future husband 34 years ago when they both attended a New York parish. Jung, 60, sees the Vatican declaration as monumental for the church, but less so for himself and his husband, whom he married in a civil ceremony in 2016. “I wou ld cer tainly ask my friends who are priests to convey such a blessing, but I wouldn’t approach any other church official to demand a rite to be blessed, because I already know God has blessed my relationship.”

The Associated Press reporters David Crary and Luis Andres Henao in New York; Peter Smith in Pittsburgh, Pennsylvania; Farai Mutsaka in Harare, Zimbabwe; Kirsten Grieshaber in Berlin; and Ciaran Giles in Madrid contributed.

Immigration fuels uptick in US population growth By Mike Schneider The Associated Press

RLANDO, Fla.—The number of immigrants to the US jumped to the highest level in two decades this year, driving the nation’s overall population growth, according to estimates released Tuesday by the US Census Bureau. The United States added 1.6 million people, more than two-thirds of which came from international migration, bringing the nation’s population total to 334.9 million. It marks the second year in a row that immigration powered population gains. A decline in the number of deaths since the depths of the Covid-19 pandemic also contributed to the US growth rate. Population gains stem from immigration and births outpacing deaths. After immigration declined in the latter half of last decade and dropped even lower amid pandemic-era restrictions, the number of immigrants last year bounced back to almost 1 million people. The trend continued this year as the nation added 1.1 million people. The last time immigration surpassed 1.1 million people was in 2001, according to Census Bureau figures compiled by William Frey, a demographer at The Brookings Institution. It is a sign of things to come. Without immigration, the US population is projected to decline as deaths are forecast to outpace births by the late 2030s. “The immigration piece is going to be the main source of growth in the future,” Frey said. The census determines how many US congressional seats each state gets. If trends continue through the 2030 count, California could lose four US House seats and New York three. Texas could gain four seats and Florida could add three, according to an analysis by the Brennan Center for Justice. While low by historical standards, 2023’s half-percent growth rate was a slight uptick from the 0.4 percent rate last year and the less than 0.2 percent increase in 2021. There were about 300,000 fewer deaths

this year compared with a year earlier. That helped double the natural increase to more than 500,000 people in 2023, contributing to the largest US population gain since 2018, according to estimates that measure change from mid-2022 to mid-2023. The population increased in 42 states, up from last year’s 31 states. The vast majority of growth, 87 percent, came from the South, a region the Census Bureau defines as stretching from Texas to Maryland and Delaware. But the concentration of growth seen during the height of the pandemic in Texas, Florida, North Carolina and Georgia diminished in 2023. “We peaked in the movement of people to those Sun Belt hotshots,” Frey said. “It’s tapering off a little bit.” South Carolina’s 1.7 percent growth rate topped all other states, and its population rose by more than 90,000 residents. More than 90 percent of the growth came from domestic migration, or people moving from another US state to South Carolina. Without domestic and international migration, the Palmetto State would have lost population in 2023 with almost 1,300 more deaths than births. Florida had the next-highest growth rate at 1.6 percent, adding more than 365,000 residents. That was also the second-highest growth in terms of raw numbers. Only Texas surpassed it, gaining more than 473,000 people. More people moved to Florida than any other US state this year, with the almost 373,000 movers about evenly split between domestic and international. Significantly fewer residents died in Florida compared to last year, leading to a natural decrease of only around 7,600 people. Of the 50 states, New York had the biggest rate of population decline, losing 0.5 percent. It also recorded the largest decline in pure numbers, with a drop of almost 102,000 residents, although it marks a much smaller decline than last year’s 180,000-person drop. The almost 74,000 international arrivals and the state’s natural increase of more than 41,000 residents couldn’t offset the almost 217,000 New Yorkers who departed the state from mid-2022 to mid-2023.

A12 Thursday, December 21, 2023 • Editor: Angel R. Calso

Opinion BusinessMirror

www.news.businessmirror@gmail.com

editorial

Message of welcome from Pope Francis

N a significant development that reflects a more inclusive stance by the Catholic Church, the Vatican announced on Monday that Pope Francis has approved letting priests bless same-sex couples.

The document from the Vatican’s doctrine office lays out the conditions for what such blessings can, and cannot, involve. It says that priests can offer blessings to same-sex couples provided the blessings themselves don’t in any way resemble a marriage. To avoid any confusion, the blessing should not be offered in conjunction with a civil union ceremony, gay or straight. From the Associated Press: “The document marks the latest gesture of outreach from a pope who has made welcoming LGBTQ+ Catholics a hallmark of his papacy. From his 2013 quip, “Who am I to judge?” about a purportedly gay priest, to his 2023 comment to The Associated Press that “being homosexual is not a crime,” Francis has distinguished himself from all his predecessors with his message of welcome.” The Vatican said the overall goal is to make it abundantly clear to the couple and those around them that the blessing in no way resembles a marriage. This is because the Catholic Church teaches that marriage is a lifelong union between a man and a woman. Nothing has changed about the Catholic Church’s firm opposition to gay marriage, or its teaching that homosexual acts are “intrinsically disordered.” Rather, this new document aims to allow any couple in an “irregular union” to seek and receive God’s love and mercy through a blessing. That can include LGBTQ+ couples and heterosexual couples who haven’t been married in the church. To prevent any confusion with official prayers of the church, the Vatican said the blessing should not be codified or established by set procedures or rituals by dioceses or bishops’ conferences. Rather, priests should be trained to “spontaneously” offer blessings outside the church’s set of approved blessings. To drive home the spontaneous, informal nature of these blessings, the Vatican said it has no plans to regulate details or practicalities about same-sex blessings, leaving it to individual priests to work out. Pope Francis has long been known for his more progressive views on social issues, and his support for blessings for same-sex couples is consistent with his emphasis on compassion and inclusivity. The Pope’s decision reflects a desire to extend pastoral care to LGBTQ+ individuals and to acknowledge the value and dignity of their relationships. By approving blessings, the Pope recognizes the need to provide spiritual support to same-sex couples within the Catholic Church. This development is a milestone in the Catholic Church’s journey towards inclusivity and understanding. It demonstrates the Pope’s pastoral approach, offering support and recognition to LGBTQ+ individuals and their relationships. Although the Church maintains its traditional definition of marriage, the approval of blessings signifies a growing willingness to engage with the realities faced by same-sex couples and to foster dialogue within the Church. While some may view the Pope’s decision as insufficient progress, it shows the Pontiff’s openness to revisit, and even revise, Church teachings. The Pope’s decision should serve as a bridge between the Catholic Church and the LGBTQ+ community, fostering a spirit of understanding. That’s because it sends a message of inclusivity and openness, inviting dialogue and engagement with individuals who may have felt excluded by the Church’s teachings in the past. This bridge-building effort by Pope Francis can lead to greater empathy and acceptance within the Catholic community. Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer

Eduardo A. Davad Nonilon G. Reyes

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com

www.news.businessmirror@gmail.com

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

My planning for 2024 John Mangun

OUTSIDE THE BOX

N 2015, I wrote several times about the coming cycle change to Political Chaos in 2016. That year gave us Duterte, Brexit, and Trump among other election and political dramas. These included “The Panama Papers” scandal, involving a large number of politicians, and both Brazil’s (Dilma Rousseff) and South Korea’s (Park Geun-hye) presidents being fired.

As late as September 2019, I said that a change in the economic cycle would bring the Year of Economic Chaos in 2020. Never did I expect the disaster that would unfold over the next two years because of governments’ reaction to the Covid virus spreading. In many ways here in the Philippines and globally, we have not recovered nor returned to pre-Covid days. This is particularly evident if you examine the amount of global government debt that we are now carrying. The period leading up to changes in cycle can be problematic. I said that 2023 would be The Year from Hell. Two very dangerous regional wars combined with intense saber rattling in Asia both in our area and in the north with the Koreas, added to the continuing economic disruption. These cycles unfold with regularity, not as precise in timing as solar

eclipses but more akin to animal migration or female ovulation. Unlike eclipses, the latter two can be affected by external factors, weather or physical/emotional distress. You can ask what causes these cycles. But it actually does not matter because all I am concerned about is surviving and then prospering. Joseph tells the Pharaoh “Seven years of abundance followed by seven years of famine.” The Pharaoh never asks “Why?” Joseph says, “Let Pharaoh take a fifth of the harvest of Egypt during the seven years of abundance. Collect all the food of these good years that are coming and store up the grain, held in reserve, to be used during the seven years of famine.” The plan seemed good to Pharaoh and to his officials. You may discount these cycles as fantasy because of the unpredictable input from humans on both war

The year 2024 will be the Year of Uncertainty. When you are uncertain about the present and the future you experience indecision and hesitancy. The world seems unreliable, and the future, vague. Uncertainty creates fear. and economics. But what Joseph described is a typical boom/bust cycle that happened to be seven years peak to trough. I have studied cycles thoroughly enough to know that they are to be ignored only at your peril. Classical economics had either denied the existence of business cycles or blamed them on external factors, particularly war. But then came the Panic of 1825, which was the first international economic crisis occurring in peacetime. My plan for 2020 was simple. I said it was necessary to make as much money in 2019 because 2020 would see challenging times. Now, what about 2024? I have struggled with a name to define 2024 and I finally found looking at Christmas season 2023. Where is the Christmas Spirit? Where is the joyful shopping? Where is Jose Mari Chan singing us through the malls? The year 2024 will be the Year of Uncertainty. When you are uncertain about the present and the future you experience indecision and hesitancy. The world seems unreliable, and the future, vague. Uncertainty creates fear.

All purchases large or small in my family will be with cash. No credit cards even with zero interest. No cash; no buy. I am looking to add to my small real estate portfolio but only at the right price from a highly motivated seller, the more desperate for cash the better. Family business interests will be expanded but only into new ventures. “Due diligence” will mean only one thing. Operations must be break-even from day one, preferably in a joint venture that requires minimal capital expenditure. My liquid investment portfolio is currently 95 percent cash although I am in a few short-term positions, and I will be extremely nimble and flexible as we enter the New Year. My long-term holdings, some from 2017, have all been cashed out. If the PSE continues to move higher, there will be rotation. The blue chips followed by the second liners and finally into good companies with bad stocks. It is the third category that will yield the highest profits and those are the issues I will wait for patiently. My primary life-philosophy is to find the worst-case scenario and plan a way to defeat it. Then I have the confidence to tackle uncertain times. Have a Merry Christmas and a joyful New Year celebration. See you again in 2024. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Philippine-China dialogue on West Philippine Sea pushed LITO GAGNI

here has been a lot of noise generated by recent incidents in the West Philippine Sea that stirred up the hornet’s nest, so to speak. The matter at hand has gone even beyond the borders of both the Philippines and China, a sad commentary on how geopolitical events are shaping up. Already, the area is being eyed as another flashpoint that could trigger a geopolitical conflict, what with the kind of military cooperation that is being offered on a silver platter to the Philippines by nations with warships, war materiel, and war leaflets. Australia, the United States, Japan and other nations in the West-

ern Hemisphere have offered a helping hand to the Philippines in the event of a possible conflict in the contested area. The key word here is “in the event”, which means that their war assets will be dispatched post-haste to the conflict area once there is a higher notch to the respective concerns of both China and the

Foreign Affairs Undersecretary Jesus Domingo highlighted the significance of economic diplomacy in the country’s foreign policy. Acknowledging China as a crucial economic and business partner, he suggested a comprehensive review of the Philippines-China relationship, recommending a measured approach to ensure a broader perspective.

Philippines. In a way, the big nations are already hatching in their minds the possibility of a conflict when there should be none, as the concern is about the contending claims of two neighbors that preclude the entry of outsiders so that a better way of solving the problem is arrived at.

The entry of warships does not offer a solution to the conflicting claims though. And yet, we have the West inventing the so-called dispute resolution mechanisms that allow for grievances to be ventilated by the parties that have contending claims so as to come up with a solution for the benefit of both parties. In these conflict resolutions, notably practiced in the East, a common ground is first looked into from where a possible answer to resolving the differences are arrived at. If we draw a diagram for each of the parties involved, it is possible that there are areas in the respective diagrams that will merge the interests of both parties. This is the initial way of resolving the conflict, seek a common ground and from there, work up a way to arrive at a solution that is favorable to both parties. See “Gagni” A13

www.news.businessmirror@gmail.com

Nippon Steel’s wily president key to battle over US Steel

Opinion BusinessMirror

Philippines seen as SEA’s growth leader PEZA attributed the strong inflow of investments to the Philippines’s “sound macroeconomic fundamentals” as well as the country’s participation in free trade agreements.

By Shoko Oda

S politicians and unions trying to derail the foreign takeover of United States Steel Corp. will have to defeat a tough negotiator from the other side of the Pacific: Eiji Hashimoto.

The president of Nippon Steel Corp. and architect of its $14.1 billion deal to create the world’s second-largest steel company has built a reputation over the years as a wily executive willing to take on his biggest customers. Before embarking on tough discussions, the 68-year-old is known to swim laps at his local health club to build up physical and mental stamina. Nippon Steel’s stock has climbed 58 percent since Hashimoto took the helm in April 2019. During the period, he raised prices for customers and in 2021 even sued Toyota Motor Corp., accusing the world’s largest carmaker of infringing on its patent for a type of steel used for electric motors. Described as tenacious and methodical, Hashimoto rose up in the ranks after spending most of his career focused on marketing and overseas businesses. “He’s very smart—sharp and quick-witted,” Ryunosuke Shibata, an analyst at SBI Securities Co., said. “He punches numbers and moves things forward logically.” Nippon Steel will have to clear a series of hurdles before a successful merger, beginning with the United Steelworkers union, which represents 850,000 worker in multiple industries including rubber, chemicals and energy-producing businesses. “To say we’re disappointed in the announced deal between US Steel and Nippon is an understatement,” the USW said in a statement soon after the bid was announced. American politicians are also scrutinizing the agreement. Several senators have criticized the deal as harming local jobs and putting national security in jeopardy, and have called for regulators including the Committee on Foreign Investment in the US, or CFIUS, to block it. Hashimoto joined the predecessor to Nippon Steel in 1979, when he graduated from Hitotsubashi University, one of Japan’s top business schools. He rose through the ranks, managing several departments. In 1988, he earned a masters from Harvard Kennedy School. Japan’s rapid economic growth in the 1970s and 1980s, and its booming demand for metals for buildings and machines, propelled the company to become the world’s largest steel producer at the time. However, stagnant economic growth in the 1990s and the rise of China as a major producer eroded Nippon Steel’s importance in the industry. In 2016, Hashimoto was tapped to be the head of global business development. He helped to rebuild a Brazilian steel venture and a few years later worked on a multibilliondollar bid to acquire Essar Steel India Ltd. with ArcelorMittal. The current incarnation of Nippon Steel, itself the product of a merger, was created in 2012 when it combined with Sumitomo Metal Industries. At the time, the mega steelmaker said it would aim to “globalize the steel business,” a move that it has sought to achieve for the last decade. When Hashimoto took over, the company was grappling with a slew of issues: intensifying competition

Gagni . . .

continued from A12

One regional paper said it best: “Philippine leaders from the political, business, and academic sectors assert that the South China Sea dispute should not overshadow the entirety of Sino-Philippine relations. Emphasizing the importance of maintaining neighborly relations and friendship, they advocate for en-

The bid to buy US Steel is Hashimoto’s biggest gamble yet, giving the steelmaker a chance to counterbalance a steady decline in its home market. He’s betting that a pan-Pacific merger of the steelmakers will benefit from rising infrastructure spending, and create global growth opportunities. in the sector from Chinese players taking market share, weak demand in Japan and a series of problems at manufacturing sites that eroded Nippon Steel’s earnings, resulting in a ¥466 billion ($3.2 billion) operating loss his first year. Hashimoto made sweeping reforms, cutting capacity, slashing executive pay and consolidating steel plants. In a New Year message that he sent to his employees in 2020, he warned that the business was operating under “extremely critical conditions” and that “urgent structural reform” was needed. Nippon Steel also pressed for price increases from its customers in response to rising fuel, logistics and raw-material costs. His efforts paid off, and the steelmaker posted a ¥726 billion profit for the fiscal year that ended March. “He’s been pushing for dramatic change,” Shibata said. “Any president can make a decision on things like closing furnaces, but it was Hashimoto who really took the helm” and pushed for price hikes, he said. The bid to buy US Steel is Hashimoto’s biggest gamble yet, giving the steelmaker a chance to counterbalance a steady decline in its home market. He’s betting that a pan-Pacific merger of the steelmakers will benefit from rising infrastructure spending, and create global growth opportunities. A representative for the company declined to comment on Hashimoto’s negotiating style. The United Steelworkers urged “government regulators to carefully scrutinize this acquisition and determine if the proposed transaction serves the national security interests of the United States and benefits workers.” Politics will also play a central role, especially with the US presidential election looming next year. Stakes are high for President Joe Biden as he seeks reelection and support from American manufacturing regions. Sitting across the table will be Hashimoto. In addition to his reputation as a tough and logic-driven negotiator, the head of Nippon Steel brings plenty of confidence. He also means business: Nippon Steel’s all-cash offer of $55 per share is a substantial premium of 142 percent to US Steel’s share price on the last trading day before it announced its strategic review. “I grew up in the countryside,” Hashimoto told Nikkei Business in an interview last year. “There’s nothing there but yourself. You have no other person to blame in times of hardship.” With assistance from Masatsugu

Thursday, December 21, 2023 A13

OOD news this Christmas season and the coming year for us Pinoys. The Asian Development Bank, in its latest outlook update, expects the Philippines to be the growth leader in Southeast Asia with a rate of 5.7percent. Overall, developing Asian economies are seen growing by 4.9 percent this year due to improved expectations in China and India.

The ADB figure sees the Philippines as the top performer. For Vietnam, the forecast was down to 5.2 percent from 5.8 percent. This revised outlook for Vietnam reflects developments in the entire Southeast Asian region, where growth is down from 4.6 percent to 4.3 percent. For 2024, however, the outlook is slightly better at 4.8 percent. According to Mr. Albert Park, the ADB’s chief economist, “developing Asia continues to grow at a robust pace, despite a challenging global environment. Inflation in the region is also gradually coming under control although risks remain, from elevated global interest rates to climate events such as El Niño, adding that Asia-Pacific governments need to remain vigilant to ensure that their economies are resilient, and that growth is sustainable.” Posing risks to the outlook are the potential supply disruptions

caused by the El Niño phenomenon, the Russian invasion of Ukraine and the Israel Hamas War, which could rekindle inflation—especially in food and energy. The growth projection made by ADB is bolstered by developments at the Philippine Economic Zone Authority or PEZA, which is performing good right now under the able and competent leadership of Director General Tereso “Theo” Panga, a home grown technocrat. President Ferdinand Marcos Jr. lauded PEZA during its 28th Investors’ Night on November 22, 2023 for its pivotal role in the country’s socio-economic growth and development through the creation of more economic zones. In his congratulatory remarks, PBBM said “your upscaling, sustaining a healthy investment climate for investors with your dynamic and client-oriented practices as well as providing decent jobs for our fel-

low Filipinos are truly noteworthy.” And with PEZA leading, it is “certain that we can make the Philippines a top destination for new and existing businesses and investments.” Panga expressed his gratitude to PBBM for his unrelenting support to PEZA and its mandates. PEZA, according to Panga, “shares the same vision of promoting economic zones, attracting strategic industries and productivity-enhancing investments, and accelerating countryside development.” Panga proudly shared that investments approved by PEZA would likely reach P172 billion, including the P12 billion that the last 2023 Board meeting is expected to approve. “Most PEZA-approved significant investments are located in Calabarzon, in central Philippines and in Central Luzon,” Panga said. PEZA attributed the strong inflow of investments to the Philippines’ “sound macroeconomic fundamentals” as well as the country’s participation in free trade agreements. He said PEZA expects more investments from South Korea next year, citing the signing of a free trade agreement (FTA) between Seoul and Manila last month. It is expected to be ratified by the Philippine Senate in January 2024. And PEZA won’t stop there. Currently, this main investment promotion agency, jointly with Bucor, is in exploratory talks. Both are sold on the proposal to put up a 26-hectare government-owned and -operated

ecozone through usufruct and lease agreement. A MOA has been drafted and now under review by the DOJ, where Bucor will cede the idle Iwahig Penal Colony land to PEZA, which will transform it into a mega ecozone with an integrated mixed-use and smart township development, complete with an embedded port, STP, power, water and telecom facilities subject to revenue sharing agreement. Peza will manage the property as its fifth public ecozone. Most of the ecozones in the country are privately owned. Panga said PEZA has recorded a significant increase in investments from China and Australia, both members of the Regional Comprehensive Economic Partnership and from the European Union, as well. As of September 2023, about 1.8 million direct jobs are generated by locators, while exports reached almost $55 billion. The IT and Business Process Association of the Philippines earlier said it is targeting at least 7 percent revenue growth for 2024. The IBPAP is expecting the industry’s revenues to grow by 8.8 percent to $35.4 billion this year. Panga said PEZA also anticipates an increase in investments involving metal fabrication or skilled manufacturing, especially in the electronic vehicle sector where China, US, Indonesia, South Korea and Japan are expected to put up production plants in the Philippines in 2024. What a nice 2024 for all of us, and God bless us that no one among our economic managers and executive officials stand idly waiting for the fruits to fall while we enjoy the holidays.

For comments, tweet @billyandal or e-mai l @andalbilly@yahoo.com

Trump should be barred from US presidency, Colorado court says By Chris Strohm and Greg Stohr

onald Trump is ineligible to serve as US president because of his actions inciting the January 6, 2021 attack on the US Capitol, Colorado’s highest court found, in an unprecedented ruling that’s headed for the US Supreme Court.

Horie, Stephen Stapczynski and Grace Huang / Bloomberg

Colorado’s Supreme Court issued the ruling Tuesday, barring Trump from the state’s primary ballot, but stayed the decision to allow the former president to appeal, which his campaign said he plans to do. He has until January 4, under the state court’s ruling. The ruling was the first to say that Trump’s efforts to overturn the 2020 election results render him ineligible to run again under a post-Civil Warera provision of the US Constitution that bans insurrectionists from holding public office. “President Trump’s direct and express efforts, over several months, exhorting his supporters to march to the Capitol to prevent what he falsely characterized as an alleged fraud on the people of this country were indisputably overt and voluntary,” according to the 4-3 ruling from the court. All seven justices were appointed by Democratic governors. “Moreover, the evidence amply showed that President Trump undertook all these actions to aid and further a common unlawful purpose that he himself conceived and set in motion: prevent Congress from certifying the 2020 presidential election and stop the peaceful transfer of power,” the court said. In addition to his appeal, Trump plans to seek a stay preventing the

hanced dialogue and negotiation as the preferred means of addressing the ongoing tensions.” This is the right course of action. A meeting of the minds divorced from the nosy interests of so-called neighbors. On this note, it is interesting to read the comments of noted leaders in the political and business fields in the country who have voiced their concerns. Foreign Affairs Undersecretary Jesus Domingo highlighted the

significance of economic diplomacy in the country’s foreign policy. Acknowledging China as a crucial economic and business partner, he suggested a comprehensive review of the Philippines-China relationship, recommending a measured approach to ensure a broader perspective. Other Chinese officials conveyed that the South China Sea dispute does not define the entirety of SinoPhilippine relations. Stressing the

ruling from taking effect, according to a statement from his campaign. The pause could extend past January 4, depending on when the Supreme Court decides whether to hear the case. The court directed Colorado’s Secretary of State to keep Trump’s name on the presidential primary ballot until the matter is decided by the US Supreme Court. “Democrat Party leaders are in a state of paranoia over the growing, dominant lead President Trump has amassed in the polls,” according to a Trump campaign statement. “They have lost faith in the failed Biden presidency and are now doing everything they can to stop the American voters from throwing them out of office next November.” The ruling comes as Trump holds a commanding lead in the Republican primary, setting the stage for a 2020 rematch against Biden, who casts Trump as an existential threat to the Democratic system. A Bloomberg News/Morning Consult poll published last week showed that Trump is leading Biden by 5 percentage points among registered voters in a head-to-head match up across seven swing states.

The ruling was the first to say that Trump’s efforts to overturn the 2020 election results render him ineligible to run again under a post-Civil War-era provision of the US Constitution that bans insurrectionists from holding public office.

The majority opinion from the Colorado court said they “do not reach

these conclusions lightly. We are mindful of the magnitude and weight of the questions now before us.” “We are also cognizant that we travel in uncharted territory,” the majority wrote. Chief Justice Brian Boatright said in a dissenting opinion that the ruling was premature because Trump hasn’t been criminally convicted and more time was needed to consider the complexities of the case. Voters represented by the advocacy group Citizens for Responsibility and Ethics, which brought the case, argued Trump should be barred from the ballot for inciting the January 6 attack on the Capitol. “Our Constitution clearly states that those who violate their oath by attacking our democracy are barred from serving in government,” Noah Bookbinder, president of CREW, said in a statement. Trump has faced dozens of lawsuits across the country this year claiming he’s ineligible for another term in the White House under Section 3 of the 14th Amendment. The provision states that a person who took an oath to support the Constitution and then “engaged in insurrection” is ineligible to hold office

prevalence of common interests over differences, they said both sides are encouraged to expand consensus and deepen cooperation in various fields, including trade and economics.. George Barcelon, chairman of the Philippine Chamber of Commerce and Industry, expressed concerns about recent tensions affecting economic exchanges between the Philippines and China. He emphasized the adverse effects of provocative actions

and advocated for active dialogue to address concerns within the business community. Ms. Teresita Sy-Coson, vice chairman of SM Investments Corporation, emphasized the importance of resolving disputes through peaceful negotiations, recognizing China and the Philippines as neighboring countries with shared interests. Ms. A nna Mar induque-Uy, deputy director of the “Asia Century” Strategic Research Institute

Divided court

again. Other cases were brought in Michigan, Minnesota and Oregon among other states. Although Republicans have been successful in Colorado, its governors and both US senators are Democrats, as is a majority of its House delegation. Biden won the state and its nine electoral votes in 2020, and Hillary Clinton, the Democratic nominee in 2016, was victorious in 2016. Trump, who is facing four criminal indictments, has used legal actions against him to rally political support, framing the charges as a plot by the political establishment to keep him out of power. The Colorado ruling, coming just one month before the Iowa caucuses, could further galvanize Republicans around him.

‘Extraordinary holding’

IT could also pressure the US Supreme Court to act quickly on the insurrection issue. “This is an extraordinary holding,” said Derek Muller, a law professor at the University of Notre Dame, who submitted a brief in the case but supported neither party. The US Supreme Court “will face intense pressure as it is asked to weigh in on this hot-button political case,” he said. Michael Gerhardt, a law professor at the University of North Carolina at Chapel Hill, said the ruling “increases the odds that the Supreme Court will take this case, and, if it does, likely makes an expedited decision because of the impending primaries.” With assistance from Sabrina Willmer, Jordan Fabian and Josh Wingrove /Bloomberg

in the Philippines, proposed the establishment of a communication platform based on trust and understanding between China and the Philippines. She emphasized the need for diplomatic and peaceful negotiations to resolve disputes amicably. The concerns that these Philippine leaders aired underscore the importance of a dialogue between the two parties, which will lead to better relations.

A14 Thursday, December 21, 2023

OFWS TO PLAY KEY ROLE IN ‘NEW PHILIPPINES’ CAMPAIGN By Samuel P. Medenilla @sam_medenilla

ITING the inva luable contribution of overseas Filipino workers (OFW) to the country’s socioeconomic development, President Ferdinand R. Marcos, Jr. on Wednesday said they will play a crucial role in his administration’s campaign towards a “New Philippines.” In his speech during the OFW Family Day 2023 at the SMX Convention Center in Pasay City, the chief executive recognized how OFWs help in nation-building not only through their remittances, but also with their work experience abroad. “They bring with them when they come home their new expertise and knowledge, which they share with our workforce,” Marcos said in Filipino. He hopes OFWs will help in government efforts to “modernize” the country by becoming models of a “new breed of Filipino workers.” “With your continued cooperation, I trust we will be able to establish the New Philippines for Filipinos now and for future generations,” Marcos said. At the event organized by the Overseas Workers Welfare Administration (OWWA), the President also reiterated his administration’s commitment to

provide them with better services to OFWs. Foremost of these developments, he said, is the government’s “One Repatriation Command Center,” which has a 24/7 hotline 1348 for those needing to be rescued, repatriated, or require counseling and legal assistance. He said the government also continues to implement Livelihood Development Assistance Program, the Balik Pinas, Balik Hanapbuhay, the Financial Awareness Seminar-Small Business Management Training, the Enterprise Development Loan Program, and the Tulong Pangkabuhayan sa Pagunlad ng Samahang OFWs. Other government welfare aid for OFWs include the OFW Children Circle, OWWA Education and Training Program and Educational Assistance, as well as the construction of the OFW Hospital in San Fernando, Pampanga. Marcos said his administration will continue to improve its interventions for OFWs. “There are many more projects lined up, and even the existing programs we will improve. I hope you will make the most of these benefits and use them properly,” Marcos said. Latest data from the Philippine Statistics Authority (PSA) showed there are an estimated 1.96 million OFWs abroad as of September 2022.

Razon group holding off on cruise terminal project pending market conditions By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HE group of tycoon Enrique K. Razon continues to study market conditions for cruise tourism before finally deciding if it will proceed with its earlier proposed cruise center in Parañaque. Industry sources told the BusinessMirror, “[The Razon Group is] closely monitoring the market and has not decided on next steps at this stage.” In 2018, Razon’s Sureste Properties started seeking the necessary government permits to establish the Solaire Cruise and Yachting Center at the back of Solaire Resort. The proposed project, estimated to cost US$308 million, had been submitted by the Tourism Infrastructure and Enterprise Zone Authority (Tieza) to Malacañang, with then President Duterte not posing any objections as long as Sureste secured necessary government permits. (See, “Cruise ship arrivals seen bringing 329,000 this year,” in the BusinessMirror, June 19, 2018.) Tieza, the infrastructure arm of the Department of Tourism (DOT), was also supposedly undertaking technical studies with the Department of Public Works and Highways to evaluate the suitability of the reclaimed area near the Philippine Senate, owned by the Cultural Center of the Philippines, as a cruise port and passenger terminal. But current Tieza COO Mark Lapid said in Filipino, “[The study] is not yet with us.” A tourism leader raised the urgent need for a dedicated cruise terminal in Manila, after a passenger on the MV Norwegian Jewel complained of—and provided visual evidence—of disorderly disembarkation procedures, cramped conditions for passengers being processed at Pier 15 of South Harbor, the lack of porters, among others, when their ship arrived on November 30. The cruise port is operated by Asian Terminals

Inc. (See, “Need for dedicated Manila Cruise terminal raised,” in the BusinessMirror, December 18, 2023.) The Philippines was recently recognized as Asia’s Best Cruise Destination at the World Cruise Awards in October. Meanwhile, the Norwegian Cruise Line (NCL), which operates MV Norwegian Jewel, has yet to issue a formal statement on the incident, which the Philippine Ports Authority (PPA) partly blamed on the cruise line’s local agent, Ben Line Agencies. In an email to the BusinessMirror, NCL’s external publicist Penta Asia said, “Regarding the Pier 15 incident, we are aware of the concerns raised. However, it’s important to note that post-related procedures and disembarkation processes are under the purview of port authorities, not the cruise line.” The company referred the paper to the PPA on the matter, but also said it would reach out to NCL management for a possible comment. In its statement on December 14, the PPA described the November 30 disembarkation chaos as an “isolated incident” and has asked ATI and Ben Line to explain their side regarding the complaints of the cruise passengers. The DOT has identified cruise tourism as an important product for the Philippines, which can help the agency attain its inbound arrivals targets under the National Tourism Development Plan (NTDP) from 2023 to 2028. In a separate statement, the agency said, “In 2023 alone, cruise tourism allowed the Philippines to showcase 33 destinations, allowing us to spread the benefits of tourism across our islands in keeping with the objective of the NTDP... to equalize tourism opportunities across the various regions of our country.” DOT data showed 23,275 arrivals by sea from January to December 12, 2023. Of the total, 23,238 were foreign tourists and 37 were overseas Filipinos or Philippine passport holders permanently residing abroad.

Jeepney groups seek SC’s TRO vs orders for PUVMP J

By Joel R. San Juan

@jrsanjuan1573

EEPNEY drivers and operators on Wednesday filed a petition asking the Supreme Court to stop the government from implementing various administrative issuances in relation to the full implementation of the Public Utility Vehicle Modernization Program (PUVMP) starting next year. In a 56-page petition, transport group Piston through its chairman Mody Floranda, leader of the legal action, asked the Court to issue a temporary restraining order and/or a writ of preliminary injunction enjoining respondents from implementing Department of Transportation (DOTr) Order No. 207-011 (Omnibus Guidelines on the Planning and Identification of Public Road Transportation Services and Franchise Issuance; Land Transportation Franchising and Regulatory Board (LTFRB) Memorandum Circular 2018-008 (Consolidation of Franchise Holders in Compliance with DO No. 207-11); LTFR B Memorandum Circular 2020-084 (Extension of Time to File Application for Consolidation Pursuant to Industry Consolidation of PUVMP); LTFRB Memorandum Circular 2021-021 (Guidelines for the Issuance of Provisional Authority to Units of Individual Operators with Pending Application for Consolidation and those that Failed to File an Application for Consolidation pursuant to DO No. 207-11; LTFRB Memorandum Circular 2023-047 (Guidelines for the Acceptance of Application for Consolidations);

and LTFB Memorandum Circular 2023-051 (Allowing Operations of Consolidated Transport Services Entities in All Routes with Filed Applications for Consolidation on or before December 31, 2023). Such issuances lay down the processes for the mandatory consolidation of individual operators under transport cooperatives and corporations and the issuance of new franchises in favor of such entities as part of the PUVMP. The assailed issuances would pave the way for the eventual phaseout of jeepneys from the roads starting January 1, 2024. Aside from PISTON, the other petitioners in the case are Bayan Muna Party-list Coordinator Gaylord Despuez, PARA-Advocates for Inclusive Transport member Edrich Samonte, No to PUV Phaseout Coalition of Panay member Elmer Forro, and Kmyut spokesperson Ma. Flora Cerna. The petitioners argued that the assailed orders and circulars violate the constitutional provisions that guarantees freedom of association, right to due process, right to equal protection of laws, right against unreasonable seizures and the right to gainful employment and livelihood. They said the orders and circu-

lars are an invalid exercise of police power and a usurpation of legislative prerogative. Lawyer Diane Azores, who topped the Bar in 2019 and whose father is a jeepney driver, will lead a group of lawyers who volunteered to provide legal assistance to the petitioners. Named respondents in the petition are Secretary Jaime Bautista of DOTr and LTFRB Chairman Teofilo Guadiz. The petitioners stressed that the orders and circulars are overly broad and infringe the constitutional freedom of association as these issuances force the drivers and operators to join an organization or cooperative. The Supreme Court, according to the petitioners, has repeatedly said that the right to join an association carries with it the right not to join. “Through the issuance of MC NO. 2023-051, the individual operators are being penalized for not joining an association. They are essentially left with no choice but to consolidate if they wish to keep their livelihood. This is gross and patent violation of the individual operators’ freedom of association as guaranteed by the Constitution,” the petition read. “In addition, compelling individual operators to form either a cooperative or corporation violate the provisions of Republic Act No. 9520 or the Cooperative Code of the Philippines and Republic Act No. 11232 or the Revised Corporation Code,” it added. The petitioners added that the orders and memorandum circulars are oppressive, overreaching and confiscatory as it will have a damaging impact on the livelihood of the

drivers and operators, and even the commuters. They cited a 2020 study showing the price of modern PUJs ranged from P1.4 million to P1.6 million per unit in 2017. However, by 2020, the price had ballooned to between P2.5 million and P2.6 million. “The high unit prices translate to high amortization payments and compounded interests, thus, imposing an enormous financial burden on PUV operators and drivers,” the petitioners said. They argued that the said orders and circulars were issued in excess of DOTr and LTFRB’s authority, considering that the implementation of PUVMP is not backed by a law passed by Congress. “No legislation was passed to support the so-called PUV ‘modernization’ program or its various facets, including mandatory consolidation nor has there been any amendment to Republic Act No. 9520 of the Philippine Cooperative Code of 2008, Article 4 (1) of which provides that cooperatives are voluntary organizations,” the petitioners insisted. On the other hand, commuters argued that prohibiting about 68,000 jeepneys from plying their route next year will result in longer lines, longer wait and even inability of commuters to get transport to their work. “Worse, the scarcity of public transport could result in more expensive fares for taxis and TNVS like Grab. Worse, more people will be forced to buy second-hand cars and motorcycles resulting in heavier traffic and carbon emission in urban areas,” they claimed.

PRESIDENT Ferdinand R. Marcos Jr. shakes the hands of migrant workers as he graces the Overseas Filipino Workers’ Family Day 2023 at the SMX Convention Center in Pasay City on Wednesday, (December 20, 2023). The World Bank has projected Philippine OFW remittances to rise to $40 billion in 2023; and then to $42 billion in 2024. Story at top left, boxed, “OFWS to play key role in 'New Philippines‘ campaign.” ALFRED FRIAS/NIB

Poll: Economy still ‘top concern’ among people

HE economy remained a “top concern” as shown by a year-end survey conducted by PAHAYAG from November 29 to December 4, providing valuable insights into prevailing concerns of macro and micro concerns among Filipino voters. “It showed that on the macro scale, the economy and inflation emerged at the topmost concerns,” both garnering significant 15 percent among respondents, with corruption and poverty following closely at 12 percent and 9 percent, respectively,” said the report on the independent and non-commissioned survey, conducted by PUBLiCUS Asia Inc. It added that “notably, corruption is least concerning to those with No Formal Education at 5 percent, while Poverty resonates

strongly with the 18-24 age group, registering a 17-percent concern.” The survey also noted that “education, agriculture, and wages round up the macro-concerns at 6 percent, with education being particularly notable among respondents.” The poll also showed nonformal education was a concern among 12 percent, while wages evoked the least concern in the National Capital Region (NCR) at 3 percent; and the 5059 age group at 2 percent, but elicited heightened concern in North-Central Luzon at 9 percent. The report added that at the micro level, “the most pressing concern is the difficulty in finding employment at 14 percent, especially affecting those with low income at 22 percent.” At the same time, the survey result

listed “affordability of basic needs and the fear of losing a job” follow closely at 12 percent, with the latter notably concerning low-income individuals at 17 percent, particularly in the National Capital Region (NCR). Moreover, the fear of not receiving adequate pay is listed as the next significant micro-concern at 11 percent, resonating strongly with the 25-29 age group (18 percent) and government workers (17 percent). Additionally, the challenge of affording basic commodities due to rising prices is equally concerning, reflecting an 11-percent apprehension among respondents. The survey delves into community safety concerns, revealing that 9 out of 10 Filipino voter respondents express apprehension about the rise of crimes and the use of illegal drugs in

their communities. This sentiment underscores the interconnected nature of economic challenges and public safety concerns, painting a comprehensive picture of the multifaceted worries facing the Filipino electorate, the pollster said. The survey was done from November 29 to December 4, 2023, using purposive sampling composed of 1,500 respondents randomly drawn from the market research panel of over 200,000 Filipinos maintained by the Singapore office of PureSpectrum, a US-based panel marketplace with multinational presence. The sample was restricted to registered Filipino voters maintained by PureSpectrum, a US-based panel marketplace with a multinational presence. Butch Fernandez

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, December 21, 2023

Go resigns Metro Pacific unit, Axelum Frederick from Robinsons Land close deal on ₧5.32-B stake P By VG Cabuag

@villygc

onglomerate Metro Pacific Investments Corp. (MPIC), through its wholly-owned subsidiary Metro Pacific Agro Ventures Inc. (MPAV), has closed the deal to acquire a strategic stake in coconut products producer Axelum Resources Corp. Axelum disclosed to the Philippine Stock Exchange that it has sealed the P5.32-billion deal for MPAV to acquire a 34.76 percent stake in Axelum. However, MPAV’s payment will be done in installments and will be subject to the “achievement of certain EBITDA milestones.” In its disclosure to the Stock Exchange of Hong Kong, MPIC’s parent company First Pacific Ltd. said MPAV’s agreement to acquire 1.19 billion common shares and 200 million redeemable preferred shares of Axelum has been amended on December 19. “Whilst the total highest consideration for the transactions payable by the group will remain unchanged at approximately P5.32 billion or

approximately P3.83 per share, the basis for payment of consideration under the SPA has been amended,” First Pacific said. It added that the amendments calls for the payment to be on installments “to the effect an initial payment of P3.37 billion would be payable on or around December 22, 2023, with additional payments payable upon achievement of certain EBITDA [earnings before interests, taxes, depreciation and amortization] milestones up to the original purchase price under the original SPA [share purchase agreement].” “The amendments in relation to the payment by installments under the SPA were agreed following arms’ length negotiations of the par-

ties. For the avoidance of doubt, an amount of P0.5 billion will be payable for the redeemable preferred shares also on or around December 22, 2023, which is not subject to the EBITDA milestones referred to above,” First Pacific said. The firm said the parties also agreed to extend the settlement date of the SPA and the subscription agreement to January 15 next year. “We proudly welcome the investment of MPAV into Axelum. This partnership is built on a shared vision and profound commitment to spearhead initiatives that will modernize our local coconut industry. We aim to achieve this by leveraging our joint expertise, network and resources,” Axelum Chairman and CEO Romeo I. Chan said. “Most importantly, this will allow us to deepen our societal impact by providing sustainable livelihood to coconut farming communities, and thereby contributing to the continuous development of the country’s agriculture sector.” Last month, June Cheryl A. CabalRevilla, MPIC’s CFO, chief sustainability officer and chief risk officer, said Axelum failed to reach some of its sales figures, which will cause its due diligence to restart. “The valuation is in discussion in

terms of finalizing it obviously because they have not met their targets, and they’re going to (recast) their numbers,” Revilla said. “And so we have to dig deeper into the assumptions and the KPIs (key performance indicators), etc. We will see their forecast for 2024, because we did the due diligence early last year towards the end of the year and early this year also. But through the unfolding of results in 2023, they’ve been very far from their numbers.” The due diligence was supposed to have been completed by the end of October, but Revilla said parties had to “extend it mutually because they have to rework their numbers and we have to re-look and redo the extended due diligence.” Axelum caters to a top-tier clientele comprised of renowned multinational consumer brands, across more than 30 high-growth export markets. It produces an extensive range of premium coconut products including desiccated coconut, coconut milk powder, sweetened coconut, coconut milk and cream, reduced fat coconut and coconut cooking oil. In addition, Axelum is a major supplier to Vita Coco, the world’s largest and most popular coconut water beverage.

Alternergy gives up wind contract By Lenie Lectura @llectura

lt er nergy Hold i ngs Corp. (Alternergy) will surrender one of the four wind energy service contracts (WESCs) awarded by the Department of Energy (DOE). In a disclosure on Wednesday, the board of directors of Alternergy approved the surrender of WESC which was awarded to its subsidiary, Calavite Passage Wind Power Corp. (CPWPC), for the Calavite Passage Offshore Wind Project. The surrender was ratified by the stockholders of CPWPC at a separate special stockholders’ meeting of CP-

WPC held last December 19. Alternergy said the results of the study for the Calavite Passage site identified several technical issues that could potentially make the development unfeasible at this time given the available technical innovations and market conditions. “The WESC covering the Calavite Passage located offshore and onshore Occidental Mindoro will be returned to the DOE pursuant to our obligations under the WESC while the development of the three Tablas Strait WESCs will be further explored,” said Alternergy President Gerry Magbanua. Alternergy and its partner, Shell, conducted preliminary studies and

initial assessment on the technical feasibility of the four offshore WESCs. The studies, it said, were done to initially screen possible locations and determine the best sites for the offshore wind development over the contract areas covered under the four WESCs. “As with any offshore wind development, preliminary studies are used to understand the complexity and feasibility of the contract areas to select the best sites for development. Based on these studies, the three sites are deemed feasible for offshore wind development exploration,” added Magbanua. The three sites are situated over the Tablas Strait issued to Tablas

Strait Offshore Wind Power Corp., the project proponent. The company had earlier relinquished the award for the Apulid Solar Power Project under the Green Energy Auction 2 (GEA 2) program of the government. The company said it decided not to pursue GEA2 and instead opt to pursue potential bilateral offtake agreement which could give a better price. “Based on our further analysis, there are other potential markets which could bring better value to the project while at the same time continue to contribute to achieving the government’s renewable energy target.”

Globe unit TikTok commits to fight IP infringement inks deal with CMZ T By Andrea E. San Juan @andreasanjuan

By Lorenz S. Marasigan @lorenzmarasigan

lobe Telecom Inc. said on Wednesday its digital healthcare service unit KonsultaMD has entered into a landmark partnership with Ciudad Medical Zamboanga (CMZ) to bring “cutting-edge healthcare services” closer to Zamboanga City residents. Under the partnership, KonsultaMD and CMZ are introducing a “seamless, digital-first approach to healthcare, streamlining every step from appointment scheduling to payment, ensuring that patients receive prompt attention and care.” Cholo Tagaysay, CEO of KonsultaMD, said the partnership is “a critical component of KonsultaMD’s mission to provide holistic care, including teleconsultations, pharmaceutical services, and home-based nursing.”

iktok, Quadgen Pharmaceutical and Greenstone Pharmaceutical HK Inc. have recently joined the agreement initiated by the Intellectual Property Office of the Philippines (IPOPHL) which aims to promote collaboration in combating intellectual property (IP) infringement, according to IPOPHL. IPOPHL Director General Rowel S. Barba expressed the hope that the incoming signatories will help in enforcing IP rights especially in the digital landscape. “To our incoming signatories, we hope that signing this MOU [memorandum of understanding] marks the beginning of a dynamic and enduring partnership. You become one with us, as well as the other signatories, in our commitment to enforce IP rights especially in the digital space,” the IPOPHL chief said during the signing. IPOPHL said it has been in coordination with the three compa-

nies with “prospects of onboarding them into the growing membership.” Barba said IPOPHL sees the TikTok Shop, the latest e-commerce platform to join Lazada, Shopee and Zalora, as “critical with influencer marketing booming in the Philippines.” TikTok Shop enables businesses of all sizes, especially Filipino MSMEs [micro,small and medium enterprises], to merge content and commerce to create shopping experiences that will allow them to reach a broader market and make real connections with new audiences, IPOPHL said. Greenstone Pharmaceutical HK Inc. manufactures and markets consumer healthcare products. Its pioneering brand, Katinko, has been a key player in the market in Hong Kong and in the Philippines. Meanwhile, Quadgen Pharmaceutical is a distributor of medicines. Barba said Greenstone and Quadgen can also help the agency prevent fake products from pen-

etrating local markets and supply chains. The E-Commerce MOU has been recognized as a “successful” model in Asean for promoting collaboration in combating IP infringement. “Since its launch in 2021, the E-Commerce MOU has yielded positive results that show how signatories have been taking more active efforts and introducing streamlined processes to take down or request the take down of IP infringing posts,” IPOPHL said in a statement on Wednesday. At present, IPOPHL said the MOU has 34 signatories. These include four e-commerce platforms, 24 brand owners, and six chambers of commerce and industry associations. According to the MOU, the purpose of the agreement is “to establish a code of practice in the fight against the sale of counterfeit and pirated goods over the internet and to enhance collaboration between the signatories including and in addition to Notice and Takedown procedures.”

roperty developer Robinsons Land Corp. (RLC) and its real estate investment trust, RL Commercial REIT Inc. (RCR), have accepted the resignation of Frederick D. Go following his announcement that he will join the Marcos administration. JG Summit Holdings President and CEO Lance Gokongwei will take over as CEO of RLC starting January 8, while there is no official statement yet on who will take over as chairman of RCR. Gokongwei is currently the chairman of RLC’s Board of Directors and a director of RCR’s board. Go has been appointed by President Ferdinand Marcos Jr. as special assistant to the President for Investment and Economic Affairs, a newly-created position with the rank of Secretary under the Office of the President. President Marcos issued Executive Order (EO) 49 creating the Office of the Special Assistant to the President for Investment and Economic Affairs to be headed by Go. “There is a need to further strengthen the existing mechanisms for formulation, coordination and implementation of the Government’s economic initiatives, plans, policies and programs, as well as to establish a robust monitoring system to ensure a holistic and cohesive approach to addressing the diverse economic challenges currently confronting the nation,” the EO read. Among its main functions is to coordinate with the Economic Development Group (EDG) in identifying problems in the implementation of priority economic initiatives of the Marcos administration. It will also provide relevant and strategic advice on economic concerns to the President, ensure the timely execution of priority economic initiatives of the government as well as the realization of investment pledges. Last March, JG Summit reported

Frederick Go

that its income plunged 86 percent to P700 million last year, despite a double-digit growth of its revenues that already surpassed pre-pandemic levels. The company said last year’s attributable income included the P6billion gains and contributions from its food manufacturing arm’s discontinued Oceania operations. JG Summit said its core income, which included the portfolio management gain that the parent company realized from the sale of some of its shares in Manila Electric Co. Inc., registered a 2-fold increase to P6.2 billion. Revenues rose 36 percent to P312.4 billion from last year’s P230.55 billion on the back of a reopening economy. The company said it has been proactive in protecting and preserving its margins through direct and indirect price adjustments, and the implementation of cost savings and productivity initiatives across its different business units. The company said the group’s cost-saving measures translated to significant profit improvements, which was evident on its airline Cebu Air Inc., which also benefitted from relaxed travel restrictions. Meanwhile, its petrochemical unit’s new product lines cushioned the adverse impact of subdued industrial demand globally. VG Cabuag

Companies BusinessMirror

Thursday, December 21, 2023

PSE STOCK QUOTATIONS

December 20, 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 PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG MANULIFE PHIL STOCK EXCH SUN LIFE

1,711,655 263,763,674 14,600 184,771,268 1,701,700 455,908 67,654,034 46,110 232,072 1,110 59,330 5,068,474.50 12,348,416.50 298,620 8,080 47,330 121,000 1,405,379 243,950

-17,265 -19,266,301 -14,983,779 -1,322,285 3,335,029.50 9,130 932,843 -826,330 -2,700 121,000 791,920 230,350

INDUSTRIAL ACEN CORP 4.03 4.05 4.2 4.24 3.98 4.03 120,340,000 485,226,640 ALSONS CONS 0.54 0.55 0.59 0.59 0.55 0.55 876,000 482,740 ALTERNERGY HLDG 0.7 0.71 0.74 0.74 0.69 0.71 2,068,000 1,478,850 ABOITIZ POWER 36.9 37 37.7 37.7 36.9 37 1,462,300 54,393,725 RASLAG 1.17 1.2 1.16 1.2 1.16 1.2 12,000 14,000 BASIC ENERGY 0.177 0.182 0.183 0.183 0.18 0.18 630,000 113,670 FIRST GEN 17.4 17.5 17.22 17.5 17.22 17.5 296,700 5,179,542 FIRST PHIL HLDG 62.5 62.95 62.4 63 62.4 62.95 3,450 215,754 JOLLIVILLE HLDG 4.5 5.49 4.5 4.5 4.5 4.5 2,000 9,000 MERALCO 388 389 383 389 380.4 389 243,990 94,366,970 MANILA WATER 18.36 18.46 18.5 18.8 18.32 18.36 1,691,600 31,394,430 PETRON 3.48 3.5 3.48 3.5 3.42 3.5 629,000 2,197,280 REPOWER ENERGY 6.95 6.99 6.99 6.99 6.99 6.99 8,100 56,619 SYNERGY GRID 6.69 6.78 6.85 6.96 6.78 6.78 1,410,700 9,718,099 SHELL PILIPINAS 11.02 11.04 11.36 11.36 11 11.04 128,800 1,423,612 SPC POWER 6.85 6.87 7.07 7.07 6.8 6.86 43,400 297,987 SP NEW ENERGY 1.1 1.11 1.15 1.16 1.1 1.11 41,780,000 46,764,750 AGRINURTURE 0.87 0.88 1.07 1.07 0.88 0.88 10,737,000 10,079,050 AXELUM 2.33 2.4 2.33 2.4 2.33 2.4 737,000 1,754,250 CNTRL AZUCARERA 10.52 11.36 10.56 10.56 10.52 10.52 11,000 115,964 CENTURY FOOD 31.3 31.6 31.05 32.15 31.05 31.6 509,400 16,101,540 DEL MONTE 6.35 6.4 6.57 6.57 6.4 6.4 201,700 1,312,374 DNL INDUS 6.1 6.15 6.1 6.16 6.1 6.1 818,200 5,017,151 EMPERADOR 20.7 20.75 20.65 20.95 20.65 20.7 454,400 9,408,945 SMC FOODANDBEV 50.1 50.95 50.5 51 49.85 50.95 17,720 893,934.50 FIGARO COFFEE 0.6 0.61 0.62 0.62 0.6 0.61 2,450,000 1,495,570 FRUITAS HLDG 0.97 0.99 1.01 1.02 0.96 0.99 5,735,000 5,662,160 GINEBRA 167.4 169 169 169 169 169 340 57,460 JOLLIBEE 242 246 247.8 247.8 242 242 156,270 38,132,234 KEEPERS HLDG 1.49 1.51 1.49 1.51 1.49 1.5 948,000 1,421,930 MAXS GROUP 3.18 3.26 3.2 3.26 3.17 3.26 92,000 293,160 MG HLDG 0.09 0.095 0.095 0.095 0.09 0.095 1,480,000 134,690 MONDE NISSIN 7.95 8 7.85 8 7.83 7.95 8,749,400 69,161,684 SHAKEYS PIZZA 9.8 9.81 9.75 9.82 9.75 9.8 29,200 285,599 ROXAS AND CO 0.47 0.49 0.47 0.495 0.47 0.49 230,000 111,150 RFM CORP 2.98 2.99 2.97 2.99 2.97 2.99 130,000 388,540 ROXAS HLDG 0.55 0.59 0.59 0.59 0.59 0.59 4,000 2,360 UNIV ROBINA 116.8 117 118 120.2 117 117 973,930 115,291,324 VITARICH 0.48 0.5 0.51 0.51 0.5 0.5 32,000 16,020 VICTORIAS 3.11 3.3 3.1 3.1 3.1 3.1 3,000 9,300 CEMEX HLDG 0.91 0.92 0.89 0.91 0.89 0.91 416,000 374,600 EC VULCAN CORP 0.64 0.68 0.7 0.7 0.64 0.68 758,000 486,520 EEI CORP 5.65 5.7 5.86 5.86 5.7 5.7 299,400 1,722,643 MEGAWIDE 3.03 3.05 3.04 3.04 3.01 3.03 169,000 510,760 TKC METALS 0.415 0.42 0.42 0.42 0.42 0.42 40,000 16,800 CROWN ASIA 1.52 1.53 1.51 1.53 1.51 1.53 51,000 77,990 EUROMED 0.71 0.75 0.72 0.72 0.7 0.7 14,000 10,060 MABUHAY VINYL 5.7 5.98 5.98 6 5.98 6 2,600 15,557 PRYCE CORP 5.16 5.2 5.21 5.21 5.16 5.16 12,200 63,282 CONCEPCION 13.62 14.4 14.42 14.42 14.42 14.42 2,100 30,282 GREENERGY 0.24 0.244 0.247 0.247 0.24 0.24 24,240,000 5,901,990 INTEGRATED MICR 3.1 3.13 3.14 3.14 3.06 3.1 76,000 235,770 IONICS 1.04 1.05 1.07 1.07 1.04 1.04 506,000 530,580 PANASONIC 4.88 5.48 5.5 5.5 5.04 5.48 3,000 16,250 SFA SEMICON 2.01 2.05 2.05 2.07 2 2.01 448,000 923,270 CIRTEK HLDG 1.51 1.54 1.57 1.57 1.5 1.55 414,000 629,950

-47,873,000 22,000 3,700 -11,471,735 -307,344 25,180 26,249,358 -4,632,912 -709,420 -1,606,108 -449,940 7,697,900 -279,090 156,900 -3,785,915 -331,870 -1,022,944 -6,999,980 -87,975.50 3,050 190,470 -14,546,076 405,000 -47,880 10,800 -17,664,320 88,200 9,400 -388,540 -54,440,022 3,100 170,140 102,930 -3,020 21,740 -9,420 2,100 -225,350.00 -182,750

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP PACIFICA HLDG PRIME MEDIA SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER

44,886,240 -12,852,265 -11,324,260 -10,494 -184,880 -3,487,836.00 105,062,495 147,150 -5,638,275 9,000 727,512 283,895,905 8,860,137 -

HOLDING & FRIMS

34.5 129 7 103.3 30 8.1 51.25 8.61 18.3 54 21.5 72.5 58.65 1.39 2.53 2.71 1,100 172 2,710

0.85 722 49.2 10.06 11.36 0.395 0.38 4.6 9.28 578 3.25 42 0.405 4.35 8.87 1.16 2.72 904.5 111.4 96.05

35.8 130.8 7.29 104 30.05 8.19 51.3 8.69 18.36 55.1 22.4 72.7 58.9 1.41 2.7 2.87 1,130 175 2,720

0.86 722.5 50 10.08 11.64 0.47 0.385 4.65 9.37 579 3.27 42.15 0.43 4.4 8.88 1.39 2.79 908 113.7 101.9

34.95 129 7.3 104.1 30 8.25 51.1 8.7 18.3 55.5 22.5 71.5 59 1.4 2.7 2.71 1,100 174.1 2,720

0.88 715 49.4 10.2 11.7 0.41 0.38 4.65 9.35 565 3.27 41.45 0.45 4.35 8.8 1.16 2.73 909 111.8 96.2

35 130.9 7.3 105.2 30.5 8.25 51.8 8.7 18.36 55.5 22.5 72.95 59.5 1.41 2.7 2.87 1,100 174.7 2,720

0.88 723.5 50.15 10.2 11.7 0.42 0.38 4.65 9.4 596 3.27 42.35 0.45 4.44 8.92 1.16 2.73 917 113.7 96.2

34 128.5 7.3 101.9 30 8.03 50.9 8.7 18.24 55.5 20.65 71.5 58 1.39 2.69 2.71 1,100 172 2,710

0.85 712 49.1 10.06 11.66 0.41 0.38 4.61 9.28 562 3.27 41.35 0.405 4.35 8.79 1.16 2.72 903.5 110.3 96.05

34.5 129 7.3 103.3 30.05 8.1 51.3 8.7 18.3 55.5 22.4 72.5 58.65 1.39 2.69 2.86 1,100 172 2,710

0.86 722 49.2 10.08 11.66 0.42 0.38 4.61 9.28 579 3.27 42 0.43 4.44 8.88 1.16 2.72 904.5 113.7 96.05

49,000 2,029,440 2,000 1,779,520 56,600 55,900 1,318,440 5,300 12,700 20 2,700 69,740 210,420 214,000 3,000 17,000 110 8,150 90

1,748,000 284,630 613,600 3,521,400 2,100 70,000 400,000 185,000 868,800 538,830 107,000 1,636,100 40,000 46,000 2,847,400 10,000 30,000 446,550 93,300 1,800

1,495,710 205,100,445 30,463,260 35,539,002 24,514 28,800 152,000 857,240 8,105,205 315,522,120 349,890 68,772,260 17,350 202,680 25,214,478 11,600 81,800 404,455,670 10,441,607 172,908.50

PROPERTY ARTHALAND CORP 0.42 0.44 0.44 0.44 0.44 0.44 100,000 44,000 AYALA LAND 34 34.4 34.3 34.6 34 34 17,100,300 586,798,825 AYALA LAND LOG 1.68 1.7 1.63 1.71 1.63 1.7 1,476,000 2,474,060 ALTUS PROP 8.99 9.46 9.02 9.47 9.02 9.47 900 8,208 ARANETA PROP 1.02 1.04 1.03 1.08 1.02 1.04 3,167,000 3,310,790 AREIT RT 33.5 33.75 33.8 33.85 33.45 33.5 650,800 21,906,530 CITYLAND DEVT 0.68 0.69 0.68 0.7 0.67 0.7 32,000 21,770 CROWN EQUITIES 0.057 0.067 0.067 0.067 0.067 0.067 10,000 670 CEB LANDMASTERS 2.49 2.5 2.5 2.5 2.47 2.49 57,000 141,750 CENTURY PROP 0.275 0.285 0.28 0.285 0.275 0.285 1,580,000 443,650 CITICORE RT 2.59 2.6 2.6 2.61 2.58 2.6 1,569,000 4,073,860 DOUBLEDRAGON 7.45 7.46 7.7 7.7 7.45 7.45 54,300 404,798 DDMP RT 1.18 1.19 1.19 1.2 1.18 1.18 2,272,000 2,690,870 DM WENCESLAO 6.1 6.2 6.2 6.2 6.2 6.2 5,000 31,000 EMPIRE EAST 0.125 0.126 0.125 0.13 0.123 0.126 1,760,000 219,360 EVER GOTESCO 0.28 0.285 0.29 0.29 0.28 0.29 670,000 191,500 FILINVEST RT 2.59 2.6 2.59 2.6 2.58 2.6 1,223,000 3,177,570 FILINVEST LAND 0.56 0.57 0.56 0.57 0.55 0.56 2,129,000 1,188,960 GLOBAL ESTATE 0.74 0.8 0.74 0.74 0.74 0.74 110,000 81,400 GOLDEN MV 820 844.5 820 845 820 845 450 371,620 PHIL INFRADEV 0.52 0.56 0.58 0.58 0.55 0.56 130,000 72,580 KEPPEL PROP 6.25 6.9 6.86 6.9 6.5 6.9 23,100 155,647 CITY AND LAND 0.73 0.75 0.72 0.75 0.72 0.75 21,000 15,350 MEGAWORLD 1.96 1.97 1.95 1.98 1.95 1.96 11,107,000 21,839,270 MRC ALLIED 1.38 1.42 1.38 1.47 1.35 1.42 160,000 220,820 MREIT RT 12.1 12.16 12.1 12.16 12.02 12.1 136,800 1,654,156 PHIL ESTATES 0.32 0.33 0.32 0.32 0.32 0.32 10,000 3,200 PREMIERE RT 1.53 1.54 1.54 1.54 1.54 1.54 7,000 10,780 RL COMM RT 4.72 4.75 4.75 4.85 4.7 4.7 2,357,000 11,244,800 ROBINSONS LAND 15.8 16 15.62 16 15.62 16 13,755,200 217,139,842 ROCKWELL 1.4 1.44 1.43 1.44 1.43 1.44 34,000 48,850 SHANG PROP 3.65 3.69 3.65 3.66 3.65 3.65 250,000 912,550 STA LUCIA LAND 3.21 3.48 3.48 3.48 3.4 3.48 35,000 120,220 SM PRIME HLDG 34 34.05 33.85 34.35 33.4 34 6,954,500 236,804,270 VISTAMALLS 2.29 2.41 2.3 2.3 2.3 2.3 11,000 25,300 VISTA LAND 1.61 1.63 1.64 1.66 1.6 1.63 2,384,000 3,865,850 VISTAREIT RT 1.67 1.7 1.67 1.69 1.67 1.67 118,491,000 197,880,280 SERVICES ABS CBN 4.56 4.6 4.5 4.75 4.45 4.6 812,000 3,733,420 GMA NETWORK 8.29 8.3 8.3 8.33 8.3 8.3 256,400 2,129,631 MANILA BULLETIN 0.231 0.238 0.237 0.237 0.231 0.231 30,000 7,050 GLOBE TELECOM 1,718 1,727 1,730 1,755 1,710 1,718 41,060 71,078,185 PLDT 1,299 1,300 1,285 1,308 1,285 1,300 177,005 230,263,140 APOLLO GLOBAL 0.012 0.013 0.014 0.015 0.012 0.013 366,600,000 4,798,400 CONVERGE 7.84 7.85 7.8 7.94 7.8 7.84 5,310,600 41,721,335 DFNN INC 3.16 3.19 3.15 3.17 3.15 3.17 15,000 47,510 DITO CME HLDG 2.45 2.48 2.58 2.66 2.45 2.45 6,607,000 16,748,290 NOW CORP 1.12 1.15 1.12 1.18 1.12 1.13 335,000 383,870 TRANSPACIFIC BR 0.132 0.137 0.134 0.134 0.131 0.131 520,000 69,140 ASIAN TERMINALS 15.5 15.9 15.96 15.96 15.9 15.9 300 4,782 CHELSEA 1.48 1.5 1.48 1.48 1.46 1.48 259,000 381,270 CEBU AIR 32.45 32.5 31.7 32.65 31.7 32.45 52,300 1,695,140 INTL CONTAINER 243.2 244 246 246.2 239.6 243.2 2,125,260 517,054,090 LBC EXPRESS 17.02 18.24 18.26 18.28 18.26 18.28 1,300 23,758 MACROASIA 3.91 3.97 3.99 4.04 3.9 3.97 320,000 1,267,650 PAL HLDG 5.13 5.2 5.13 5.13 5.13 5.13 500 2,565 HARBOR STAR 0.77 0.8 0.75 0.8 0.75 0.8 9,000 6,890 BOULEVARD HLDG 0.063 0.065 0.065 0.065 0.063 0.063 4,980,000 320,170 DISCOVERY WORLD 1.04 1.23 1.22 1.22 1.21 1.22 1,790,000 2,183,210 CENTRO ESCOLAR 8.02 8.48 8.29 8.48 8.29 8.48 300 2,525 IPEOPLE 7.35 7.37 7.37 7.37 7.35 7.35 300 2,209 STI HLDG 0.475 0.48 0.475 0.48 0.475 0.48 630,000 299,900 BELLE CORP 1.17 1.19 1.18 1.18 1.16 1.17 280,000 328,100 BLOOMBERRY 9.89 9.9 9.85 10.08 9.85 9.9 11,430,800 113,271,403 PACIFIC ONLINE 4.8 4.9 3.78 5.46 3.78 4.9 4,608,000 21,391,410 PH RESORTS GRP 0.86 0.87 0.92 0.93 0.87 0.87 3,062,000 2,749,060 PREMIUM LEISURE 0.61 0.62 0.59 0.64 0.59 0.62 47,793,000 29,462,600 DIGIPLUS 7.34 7.36 7.29 7.5 7.28 7.35 5,951,800 44,086,821 PHILWEB 1.7 1.76 1.73 1.77 1.7 1.7 360,000 612,770 ALLDAY 0.154 0.156 0.157 0.159 0.154 0.155 4,780,000 745,620 ALLHOME 1.16 1.17 1.15 1.18 1.13 1.16 3,416,000 3,976,440 METRO RETAIL 1.24 1.25 1.25 1.26 1.25 1.26 330,000 412,510 PUREGOLD 26.95 27 26.45 27.2 26.45 27 1,565,200 42,249,165 ROBINSONS RTL 38.9 38.95 39 39.5 38.8 38.95 193,400 7,543,380 SSI GROUP 2.48 2.5 2.49 2.51 2.46 2.5 1,040,000 2,583,480 UPSON INTL CORP 1.6 1.66 1.69 1.69 1.69 1.69 1,000 1,690 WILCON DEPOT 21.4 22 20.4 22.4 20.15 22 1,600,700 34,625,925 APC GROUP 0.22 0.221 0.216 0.228 0.216 0.22 580,000 126,880 EASYCALL 2.15 2.98 2.98 2.98 2.98 2.98 3,000 8,940 MEDILINES 0.315 0.335 0.33 0.33 0.33 0.33 100,000 33,000 PAXYS 1.03 1.12 1.02 1.15 1.02 1.15 13,000 14,130 PRMIERE HORIZON 0.163 0.165 0.168 0.168 0.164 0.164 760,000 125,480 MINING & OIL APEX MINING 2.94 2.95 2.95 3.02 2.95 2.95 9,141,000 27,286,490 ATLAS MINING 3.4 3.41 3.35 3.45 3.35 3.4 389,000 1,307,960 BENGUET A 4.76 4.78 4.75 4.81 4.75 4.78 94,000 448,980 BENGUET B 4.7 4.89 4.71 4.89 4.71 4.89 6,000 28,440 COAL ASIA HLDG 0.1 0.154 0.12 0.12 0.12 0.12 10,000 1,200 CENTURY PEAK 3.25 3.48 3.35 3.48 3.25 3.48 3,661,000 12,581,800 FERRONICKEL 2.01 2.02 2 2.05 2 2.02 8,386,000 17,015,010 GEOGRACE 0.03 0.033 0.03 0.03 0.03 0.03 1,000,000 30,000 LEPANTO A 0.079 0.08 0.08 0.082 0.079 0.08 3,260,000 260,570 LEPANTO B 0.079 0.081 0.079 0.081 0.079 0.081 60,000 4,820 MANILA MINING A 0.0045 0.0048 0.0049 0.0049 0.0045 0.0045 28,000,000 130,800 MANILA MINING B 0.0044 0.0046 0.0049 0.0049 0.0046 0.0046 77,000,000 370,800 MARCVENTURES 1.05 1.06 1.07 1.07 1.05 1.05 523,000 555,030 NICKEL ASIA 5.05 5.1 5.04 5.1 5.04 5.1 1,729,300 8,793,487 PX MINING 3.22 3.23 3.2 3.27 3.18 3.23 2,153,000 6,961,160 SEMIRARA MINING 28.3 28.35 28.2 28.6 28.2 28.35 1,985,700 56,413,885 ENEX ENERGY 4.64 4.82 4.6 4.82 4.6 4.82 8,000 37,060 ORNTL PETROL A 0.0079 0.0081 0.0081 0.0081 0.008 0.008 7,000,000 56,100 PHILODRILL 0.0077 0.008 0.0077 0.0077 0.0077 0.0077 2,000,000 15,400 PXP ENERGY 3.65 3.7 3.85 3.85 3.62 3.7 120,000 450,540 PREFFERED ACEN PREF A 1,050 1,065 1,050 1,050 1,050 1,050 3,600 3,780,000 ACEN PREF B 1,052 1,078 1,065 1,065 1,051 1,051 3,400 3,590,380 ALCO PREF D 450 485 452 452 450 450 300 135,200 BRN PREF A 97 97.95 97.5 97.5 97 97 100 9,735 CEB PREF 31.6 32.1 32 32 32 32 1,600 51,200 DD PREF 93.8 94 94 94 93.95 93.95 4,650 437,050 EEI PREF A 86.8 94.95 86.75 86.75 86.7 86.7 200 17,345 EEI PREF B 95.3 96.95 97 97 97 97 50 4,850 JFC PREF A 950.5 999.5 950 950 950 950 50 47,500 JFC PREF B 910 920 920 920 920 920 1,000 920,000 MWIDE PREF 4 90.5 91.95 90 91.95 90 91.95 3,010 270,919.50 MWIDE PREF 5 100.5 101.4 101.3 101.4 101.3 101.4 3,010 305,208 PNX PREF 3B 23.25 24.7 26.45 26.45 23.55 23.55 200 5,000 PNX PREF 4 206.2 234.2 234.6 234.6 234.4 234.4 60 14,068 PCOR PREF 3B 970.5 980 970 979.5 970 979.5 140 136,845 PCOR PREF 4C 995 1,000 1,000 1,000 1,000 1,000 10 10,000 SMC PREF 2F 72.2 72.5 72.5 72.5 72.5 72.5 360 26,100 SMC PREF 2I 70.5 72.85 70.6 72.95 70.5 70.5 348,170 24,553,337 SMC PREF 2K 65.6 69 69 69.4 68.95 69 12,380 854,222 SMC PREF 2N 77.25 79 78 78 78 78 1,000 78,000 SMC PREF 2O 77.35 78 77 78 77 78 218,580 17,048,867.50

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

TECH WARRANT

4.21 4.35 4.3 4.37 4.27 4.35 42,000 7.8 8.35 7.69 7.9 7.68 7.8 51,400 0.29

0.345

SMALL, MEDIUM & EMERGING BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

0.4 0.74 0.98 0.65 1.02 0.194

0.41 0.76 1.02 0.67 1.03 0.2

EXHANGE TRADE FUNDS FIRST METRO ETF

103

103.2

165,626,245 77,560 -1,786,975 80,500 181,756 -798,480 -142,480 -31,900.00 -445,670 -174,790 720 -5,977,270 -679,198 -4,036,120 -111,781,340 21,950 96,666,060 -1,507,720 100

www.businessmirror.com.ph

Meralco heeds ERC, revises terms of CSP for 1,800MW

By Lenie Lectura

@llectura

he Manila Electric Co. (Meralco) heeded the recommendation of the Energy Regulatory Commission (ERC) to revise the terms of reference (TOR) of the upcoming competitive selection process (CSP) for 1,800 megawatts (MW) of baseload capacity. “ERC Chairman Monalisa Dimalanta has a few recommendations which we have already incorporated in the TOR. I think the only major change was the capping of the maximum offered capacity. Because under the TOR, any bidder can offer a maximum of 1,800 megawatts so she recommended capping it to a certain level. We recommended 1,200 megawatt which I think was acceptable to her,” said Meralco Head of Regulatory Management Office Jose Ronald Valles. Dimalanta earlier raised the limitation on the power plants that can participate in the CSP. “Our concern is that if only plants that started operations in 20202025 is allowed then this unduly

limits that number of plants that can participate which raised issues on how competitive the bids or offers would be.” The firms that had expressed interest to join the competitive bidding are GNPD, First NatGas Power, SP New Energy, Mariveles Power Generation, Excellent Energy Resources, Inc. (EERI) and Masinloc Power Partners Co. Ltd. (MPPCL). Four of the six offers are coal. The remaining two are solar and gas. Valles said the bids and awards committee will prioritize the bid offer with the least cost and the one that will be sourced from indigenous fuel. “If two bidders offer the very least cost but one is being sup-

Nlex reactivates motorist assistance program

TOR. Unless the chair tell us otherwise, then we will likely proceed because there’s not enough time for us to complete the bidding,” Valles added. Meralco said the 1,800MW capacity is needed to meet the growing demand of its customers starting next year. It expects electricity sales within its franchise area to grow between 4.5 to 4.7 percent this year from 2022. Lasty year, Meralco’s energy sales volumes rose by 6 percent to 48,916 gigawatt hours (GWh) from 46,073 GWh in 2021 brought about by the minimal restrictions in commercial and social activities. Sales mix continued to shift towards the commercial segment, Meralco had reported. “For October alone, we’re seeing around 5.2 percent increase then November, December it is still that much. So, on average, 5 percent per quarter. That would be around 4.7 percent for the year,” said Meralco Chief Commercial Officer and First Vice President Ferdinand Geluz.

plied by coal and the other is from LNG [liquefied natural gas] from Malampaya then we will go for the one that will be sourced from Malampaya,” Valles said. He also said that there can be two winning bidders that could supply Meralco the needed capacity of 1800MW. “If there is an offer of 1,200 megawatt and another is 600MW then both can win.” Meralco said the deadline for the submission of bids for the 1,800MW CSP is December 26. “We’re seeking guidance if we can proceed with the bid opening on December 27 given the recommendations of the ERC that we have incorporated already in the

MUTUAL FUNDS

December 20, 2023

NAV

One Year Three Year

175,300 -1,200 7,521,300 -589,780 -3,414,303 74,120 -7,194,680 -65,450 -45,200 -47,500 -10,575 20,698 -14,742,000

181,810 397,504

0.415 0.415 0.395 0.41 200,000 80,750 0.74 0.74 0.74 0.74 5,000 3,700 0.98 1.04 0.98 1.02 615,000 618,820 0.68 0.68 0.67 0.67 89,000 59,640 1.01 1.03 1.01 1.02 884,000 899,150 0.186 0.2 0.186 0.2 80,000 15,760

102.9 103.3 102.5 103.2 34,410 3,545,343 157,530

Y-T-D Return

Stock Funds 4.37%

-2.69%

-3.54%

1.4474

11.68%

2.69%

0.28%

1.72%

7.68%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.9901

ALFM Growth Fund, Inc. -a

213.3

4.94%

-2.35%

-5.45%

-2.08%

1.87%

-5.69%

-5.14% n.a

-6.9%

-5.77% n.a

-4.3%

-2.65%

-2.6%

0.35%

ATRAM Alpha Opportunity Fund, Inc. -a

Climbs Share Capital Equity Investment Fund Corp. -a 0.6917 First Metro Consumer Fund, Inc. -a

0.6207

-2.53%

First Metro Save and Learn Equity Fund, Inc. -a 4.66622.77%

-0.28%

2.29%

-0.2%

First Metro Save and Learn Philippine Index Fund, Inc. -a 0.69671.57%

-3.65% n.a n.a

MBG Equity Investment Fund, Inc. -a

-6.61% n.a

84.08

11.44%

-6.16%

PAMI Equity Index Fund, Inc. -a 43.3646

2.79%

-3.26%

-2.8% n.a

Philam Strategic Growth Fund, Inc. -a

453.23

4.01%

-3.08%

-2.76%

-0.18%

1.99%

1.1989

5.91%

0.26%

-1.22% n.a

2.03%

Philequity Fund, Inc. -a

4.49%

-1.24%

-1.76%

1.61%

34.0308

2.21%

-1.84% n.a n.a

3.63%

Philequity PSE Index Fund, Inc. -a

4.5577

3.76%

-2.39%

1.38%

Philippine Stock Index Fund Corp. -a

758.15

3.62%

Soldivo Strategic Growth Fund, Inc. -a 0.6957

5.44%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.3957

-1.98%

1.4%

-2.56%

-2.06%

1.42%

1.23%

-1.98%

-4.39% n.a

3.2% -0.32%

3.04%

-2.87%

-3.8%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8598 3.28%

-2.87%

-2.36% n.a

United Fund, Inc. -a

0.68%

2.78%

-2.75%

-2.5%

-0.63%

0.4%

Philequity MSCI Philippine Index Fund, Inc. -a 0.87966.05%

3.1094

2.58% -1.09%

11.64%

Philequity Dividend Yield Fund, Inc. -a

0.67% 0.93%

0.5%

Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.06653.28% n.a n.a n.a

0.98%

COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,2 1.0094 n.a n.a n.a n.a n.a Philequity Alpha One Fund, Inc. -a

1.0175

0.25%

-2.74% n.a n.a

-2.76%

Philippine Stock Index Fund Corp. -a

920.31

3.57% n.a n.a n.a

1.19%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c102.96194.24% -2.18%

-18,973,110 72,011,335 16,600 -82,476 -6,300 -1,559,570 11,300.00 23,580 1,590 748,255 -90,824,334 386,250 2,183,210 2,209 23,950 -74,260 -19,047,952 5,877,170 10,120 11,860 -2,875,526 -2,689,000.00 -22,794,315 -5,836,375 -783,840 1,690 -937,010.00 -6,600 -

Five Year

per share Return*

-1.74%

2.11%

1.82%

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

-6.24%

-12.46%

-2.74%

-1.73%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6401

$0.8019

14.69%

-0.22%

7.63% n.a

-5.88% 15.18%

Balanced Funds Primarily invested in Peso securities (shares)

By Lorenz S. Marasigan @lorenzmarasigan

lex Corp. said on Wednesday it is enhancing expressway services during peak periods for a safer and more convenient travel along the North Luzon Expressway (Nlex) and the SubicClark-Tarlac Expressway (Sctex). Nlex Corp. President and General Manager Luigi Bautista said the company is reactivating the “Safe Trip Mo, Sagot Ko” (SMSK) program for the expected increase in traffic volume starting December 22. “This is the first Christmas and New Year where Filipinos will be able to celebrate without a state of public health emergency. Please plan your trips well as we expect high traffic volume during these days,” he said in a statement. SMSK aims to enhance expressway services during peak periods for safer and more convenient travel. During its implementation, the tollway company will be deploying over 1,500 traffic, toll and systems personnel for increased patrol visibility and toll plaza assistance. Emergency medical services and incident response teams will also be fielded and positioned at strategic areas of the expressways. High traffic volume is being anticipated in the following major toll plazas: Balintawak, Mindanao, and Tarlac on December 22 around noontime until late in the evening of December 23 and noontime of De-

cember 29 until late in the evening; Tarlac on December 25, 26 and January 1; and Bocaue on early afternoon until midnight of December 25 and 26, the morning of December 27, afternoon to midnight of December 29 and January 1 noontime until late in the morning of the following day. Bautista added that construction and lane closures along the mainline road of the Nlex-Sctex will be suspended, unless emergency safety repairs are necessary, until January 2, 12 noon. Traffic management teams will also closely monitor the chokepoint areas such as the Harborlink, Meycauayan, Bocaue, Candaba Viaduct, San Simon, San Fernando, Dau, Mabalacat ramps. Nlex is targeting to increase its capital expenditures (capex) by as much as 50 percent in 2024 to bankroll its infrastructure initiatives. Company president Luigi Bautista said the company is allocating “about P15 billion” for “existing and planned expansion” of Nlex and Sctex. The company is spending P10 billion in capex this year. Included in the list of priority projects for Nlex is the Candaba Third Viaduct, which is now “30 percent complete,” Bautista said. Costing P7.89 billion, the project involves the construction of a new bridge in the middle of the two existing viaducts to further improve safety and expand the expressway’s capacity to handle more vehicles.

ATRAM Dynamic Allocation Fund, Inc. -a 1.5251

5.51%

-3.27%

ATRAM Philippine Balanced Fund, Inc. -a

8.46%

-1.19%

0.12%

0.59%

6.11%

First Metro Save and Learn Balanced Fund, Inc. -a 2.5069

1.55%

-2.02%

-0.38%

-0.71%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1901

1.44%

-1.92% n.a n.a

2.234

-1.74%

-1.34%

2.72% 0.06%

-1.76% NCM Mutual Fund of the Phils., Inc. -a

1.9424

0.95%

-0.73%

0.93%

1.68%

PAMI Horizon Fund, Inc. -a

3.5784

4.98%

-2.21%

0.11%

0.9%

4.02%

Philam Fund, Inc. -a

15.6653

3.83%

-2.89%

-0.44%

0.53%

3.47%

Solidaritas Fund, Inc. -a

2.0427

3.91%

-1.16%

-0.41%

1.25%

2.82%

2.94%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4214

3.89%

-1.88%

-1.48%

0.09%

Sun Life Prosperity Dynamic Fund, Inc. -a 0.9064

0.07%

-0.58% n.a

3.13%

4.64%

2.76%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.94213.8%

-3% n.a n.a

2.94%

Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.85123.75%

-4.18% n.a n.a

1.87%

Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.83052.98%

-4.45% n.a n.a

0.97%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03309

1.47%

-5.42%

-1.22%

PAMI Asia Balanced Fund, Inc. -b$0.8912 -0.82%

-8.04%

-0.9%

-1.08%

6.1%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.2416

9.25%

-1.72%

4.68%

4.7%

-3.86%

1.29% n.a

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0306

0.17%

2.13% 2.98%

10.29% 6.07%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 390.1

3.35%

1.71%

2.6%

2.22%

ATRAM Corporate Bond Fund, Inc. -a

1.9077

1.51%

0.15%

0.53%

3.2% 0%

Cocolife Fixed Income Fund, Inc. -a

3.3239

3.03%

1.14%

2.31%

3.77%

Ekklesia Mutual Fund, Inc. -a 2.2782

4.54%

-0.25%

1.36%

1.37%

4.25%

First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4525

2.33%

0.01%

2.12%

Philam Bond Fund, Inc. -a

-2.49%

1.85%

0.85%

3.72%

4.294

2.63%

1.75% 3.58% 1.18%

Philam Managed Income Fund, Inc. -a

1.3708

3.67%

1.29%

3.04%

1.75%

3.89%

Philequity Peso Bond Fund, Inc. -a

4.025

3.85%

0.32%

2.85%

1.6%

4.04%

Soldivo Bond Fund, Inc. -a

2.71%

0.3%

3.29% n.a

3.12%

1.0483

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

3.3027

4.52%

1.08%

3.63%

2.14%

Sun Life Prosperity GS Fund, Inc. -a

3.79%

0.28%

2.79%

1.48%

4.05%

1.7644

2.57%

4.99%

Corporate Debt Vehicle (units) ATRAM Unitized Corporate Debt Vehicle, Inc. -a,3

1.0057 n.a n.a n.a n.a n.a

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $494.47

0.76%

1.99%

2.53%

1.73%

-0.83%

0.1%

0.83%

1.9%

-6.53%

-1.55%

0.15%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0247 3.78%

-2.32%

-0.16% n.a

PAMI Global Bond Fund, Inc. -b$0.8553

-1.68%

-3.09%

-4.97%

Philam Dollar Bond Fund, Inc. -a

$2.3029

ALFM Euro Bond Fund, Inc. -a Є213.66

ATRAM Total Return Dollar Bond Fund, Inc. -b$1.04032.69%

Philequity Dollar Income Fund, Inc. -a $0.0608832

-7.82%

-3.7%

3.06%

5.15%

-3.05%

1.95%

5.64%

1.65%

-0.77%

1.33%

1.6%

1.98%

1.64%

-4.29%

-0.37%

0.63%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.8143

1.21%

2.99%

4.22%

3.41%

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 136.72

2.7%

1.76%

2.52%

2.03%

2.6%

First Metro Save and Learn Money Market Fund, Inc. -a 1.1073 3.24%

1.86% n.a n.a

Sun Life Prosperity Peso Starter Fund, Inc. -a 1.37452.78%

2.45%

1.98%

2.01%

3.14%

2.7%

Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.44

4.09% n.a n.a n.a

3.95%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a

$1.096

2.49%

1.37%

1.54% n.a

2.51%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 43.42861.06% n.a n.a n.a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.4616

19.59%

1.75%

9.33% n.a n.a

18.63% Sun Life Prosperity World Income Fund, Inc. -a,1

0.9994 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 $0.80030.18%

-6.53% n.a n.a

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. 1 - Launch date is August 22, 2023.

2 - Launch date is October 6, 2023.

1.3%

c - Listed in the PSE.

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.news.businessmirror@gmail.com

Banking&Finance

Cost of insuring vessels to transit Red Sea jumps

HE cost of insuring vessels that will transit the Red Sea jumped again this week after mounting attacks in the region forced some ships to avoid the vital waterway, underscoring the need to secure an area that’s pivotal to global trade. Cover has now surged to about 0.5 percent of the value of a ship’s hull, according to three people involved in the market. That’s a sharp increase from earlier this month, when costs were about 0.1 percent to 0.2 percent of the hull value. The US and its allies are bringing together a new task force to tackle Iran-backed Houthis who’ve stepped up attacks on the merchant fleet in a new risk for the global economy. They’re also weighing up possible military strikes, but diplomacy remains the preferred approach for now, according to people familiar with the matter. So-called war risk insurance is generally quoted as a percentage of the value of the ship for the period that a vessel is trading in risky areas. That figure has climbed more than tenfold from before the attacks escalated in earnest. On Monday, London insurers expanded the regions within the Red Sea that are designated as risky—a move that effectively boosts the area in which war cover is needed. A.P. Moller-Maersk A/S and most of the other top container shipping lines have said they will pause shipments

through the area. Crude prices rose on Monday when oil and gas giants BP Plc and Equinor ASA said they would take a similar approach—adding to global inflation risks. Many are choosing to sail thousands of miles around the tip of Africa instead. “Both options of increased premiums and rerouting around Africa will see a knock-on effect on the price of goods,” said Toby Vallance, Executive Committee Member of the London Forum of Insurance Lawyers. For a vessel costing $100 million, an expense of 0.5 percent translates to an insurance cost of $500,000 per voyage. This applies to merchant ships entering routes in the Southern Red Sea or Gulf of Aden. The disruption in marine traffic caused by the Houthi attacks, spurred by the ongoing Israel-Hamas war, means that both of the world’s main arteries of global trade—the Panama and the Suez Canal—are now facing their own snarls, threatening the smooth passage of goods around the world. The disruption will disrupt supply chains as vessels reach their destinations later than anticipated and then take longer to get back to pick up subsequent cargoes. When a container ship blocked the Suez Canal completely in 2021, it took months for trade to normalize again. About 90 percent of global trade moves by sea, and about 12 percent of that goes through the Suez. Bloomberg

BusinessMirror

FINE PAYMENT

Economic indicators lack impetus for rate cut–BSP

By Jasper Emmanuel Y. Arcalas

@jearcalas

ANGKO Sentral ng Pilipinas Governor Eli M. Remolona Jr. said an interest policy rate cut is “highly unlikely” in the next few months as such policy move is not yet supported by various economic indicators. Remolona pointed out that there are certain conditions that must be met before the Monetary Board (MB) pushes through with an interest policy rate cut. One of the key data indicators for the MB is the inflation figures, which, Remolona noted, remained threatened because of various factors such as supply shocks. “I think we’re looking at many, many numbers, right? And if most of the numbers point in the right di-

rection, including expectations, they really settle into this comfortable range of 3 percent for inflation, then we would consider cutting rates,” Remolona told reporters in a press briefing on Wednesday. “We’re still not out of the woods when it comes to inflation. If there are further supply shocks, it makes it all the harder. There’s always the issue of financial crisis,” Remolona added. Until such time that these iden-

tified conditions are met, Remolona emphasized that country’s interest rates will have to stay “higher for longer.” Last December 14, the MB decided to maintain key policy rates amid upside risks to the inflation outlook. The MB kept the BSP’s Target Reverse Repurchase (RRP) Rate unchanged at 6.5 percent. Remolona explained that the anticipated strong El Niño next year is one of the supply shocks that the MB is closely monitoring. “In our analysis, first quarter [El Niño] might be bad, second quarter El Niño si 50-50. In our judgment, Q1 is likely [while] Q2 is more fifty-fifty. [There are] supply shocks, we’re more or less anticipating,” he said. Citing the BSP’s latest forecast, Remolona said the country’s inflation rate in the first quarter could fall below 3 percent before going above the 3 percent in the second quarter because of base effects. “But for the year as a whole, we hope we’re within the target range.

Closer to the ceiling, I think. Closer to the ceiling and to the middle. Closer to 4 percent than 3 percent, for the year as a whole,” he said. “The base effects don’t affect the monetary stance. But if inflation remains higher than we thought and expectations begin to get deanchored, then we have to do more about inflation,” he added. Nonetheless, if addressing the country’s inflation problem were a basketball game, Remolona said the MB is the leading team but “there is still one quarter to go.” “Palagay ko leading tayo ngayon [I guess we’d be leading now] on our side but there’s still one quarter to go,” he replied, when asked to compare the MB’s fight against inflation rate to a basketball match. Oxford Economics earlier projected that the BSP would remain on hold until the second quarter of next year when rate cuts are expected to start. (Related story: https://businessmirror.com.ph/2023/12/15/ amid-inflation-risks-bsp-keepskey-rates/)

Global bond rally speeds up as rate-cut bets build

This Wednesday, November 15, 2023, photo courtesy of the Land Bank of the Philippines shows San Juan City Mayor and Metro Manila Council President Francisco Javier “Francis” M. Zamora (fourth from left) with MMDA Chairman Romando S. Artes (third from left) leading the launching of the Metro Manila Single Ticketing System program, alongside San Juan City Vice Mayor Angelo Agcaoili (sixth from left), MMDA Director Victor Maria D. Nuñez (rightmost), and Land Transportation Office Regional Director Noreen San Luis-Lutey (fifth from left), together with LandBank Vice President Emelyn M. Justiniano (second from left) and San Juan Branch Head Zenaida R. Rodenas (leftmost). A statement issued by the LandBank last week read it joined the City Government of San Juan and the Metropolitan Manila Development Authority in launching the implementation of the STS in San Juan City.

Editor: Dennis D. Estopace • Thursday, December 21, 2023

ONDS rallied and equities paused as a fresh batch of soft inflation data boosted the likelihood of interest-rate cuts, but also underscored the risk of an economic downturn. Germany’s 10-year yield dropped below 2 percent for the first time in nine months after a report showed producer prices fell more than expected in November. Meanwhile, British 10-year borrowing costs retreated as much as 11 basis points as slowerthan-expected inflation boosted the case for Bank of England rate cuts next year. Treasury yields slid 5 basis points to 3.9 percent, down more than 40 basis points this month. The UK data “adds to the mounting evidence that global inflation has begun to crumble on a broader basis,” said Christoph Rieger, head of rates research at Commerzbank.

The data initially lifted regional stock markets, but gains on the Stoxx 600 index quickly evaporated. US equity futures also eased, with contracts on the Nasdaq 100 shedding 0.3 percent. London’s export-oriented FTSE 100 benchmark held its gain, however, as the pound tumbled 0.5 percent. Policy-easing bets have gathered momentum across the developed world since the US Federal Reserve’s recent dovish pivot. Economic data has backed that view, especially in the euro area, where analysts surveyed by Bloomberg forecast the first recession since the pandemic. Inflation has slowed to 2.4 percent in November, from a peak above 10 percent last year. Money markets have moved to price almost a 50 percent chance of an euro-area rate cut by next March,

while seeing an even higher probability of a Fed cut that month. Investors have paid little heed to policymakers’ efforts to push back against the exhuberance. Instead, they have seized on comments made Tuesday by Richmond Fed President Thomas Barkin, who suggested the US central bank would “respond appropriately” if recent progress on inflation continued. The S&P 500 had jumped to a new 23-month high on Tuesday while the Nasdaq 100 touched a record peak for the third session in a row. However, investors are now having to balance the rate cut optimism against the negative fallout from economic recession. “It’s hard to see such a fast and deep rate-cutting cycle as the market appears to assume, unless the base case is a deep recession,” said Daniele

Antonucci, chief investment officer at Quintet Private Bank. This week’s US data readouts, including existing home sales figures on Wednesday, Thursday’s GDP print and Friday’s data on personal consumption expenditures—the Fed’s preferred measure of inflation—are likely to offer further guidance. Investors are also starting to weigh risks stemming from potential shipping delays and freight cost increases, as companies divert cargoes away from the Red Sea to avoid militant attacks. This rerouting will mean higher shipping costs and longer delivery time, Bloomberg Economics wrote in a note. Crude oil extended gains, with Brent futures holding near $80 a barrel. Shares in shipping companies such as Hapag Lloyd AG and AP MollerMaersk A/S rallied. Bloomberg News

The end of the debt bubble has put the Chinese dream on hold PDIC, Mindanao bankers

N 2020, one of the world’s most heavily traded bonds was a 2025 note for China Evergrande Group. Investors loved the debt of the Chinese real estate conglomerate for several reasons: It was liquid; it was tied to one of the biggest companies in the country; and it gave them a piece of the world’s second-largest economy. It also heralded a major transition for China, symbolizing an era of turbocharged growth that had put it on a path to one day surpass the US. No longer was the country going to be merely a factory to the rich world—it would have its own consumerist middle class, with beautiful apartments and all the furniture, appliances and electronics to go in them. Evergrande was building that dream, apartment tower by apartment tower—along with theme parks and business lines in bottled water, electric vehicles, health-care services and even a soccer club. Now the Evergrande bond trades for pennies on the dollar, and its fate tells the story of an epic crash that’s affected everyone in China. For decades, real estate has been a surefire way to make money in the country—for homeowners who bought first, second and even third or fourth apartments as prices kept rising; for property companies borrowing to build projects to match demand; and for local governments relying on land sales to provide cash and infrastructure projects to help meet Beijing’s ambitious economic growth targets. In 2020 there was one problem

with that bet: President Xi Jinping was ready for it all to change. When the crackdown on property speculation began, very few understood what was really happening and just how painful it would get. In fact, the first signs of change didn’t amount to much more than a set of financial rules—known as the “three red lines” companies couldn’t cross—and a request for a dozen developers to report their finances monthly to regulators. Since then, China has run one of the biggest economic experiments since it opened up in the 1980s under Deng Xiaoping. Several dozen developers have defaulted on their debt, leaving hundreds of projects unfinished and even triggering a wave of boycotts on mortgage payments by homeowners protesting incomplete construction. In China, it’s common for buyers to pay for units before they’re finished and then hope they get what they paid for. Meanwhile, about 5 million workers face unemployment or lower incomes by 2026 if the housing sector continues to shrink, Bloomberg Economics estimates. For investors and bankers, the debt squeeze marks the end of a oncein-a-lifetime boom, when Hong Kong financiers could cut deals while taking weekend junk boat trips around the island and traders enjoyed juicy yields from a sector that, until Evergrande’s collapse, had only ever seen one major default. Beijing wants to pop its own market bubble to end speculation that’s led to a strange combination of un-

affordable housing and oversupply, as the demand to get a piece of the red-hot market meant construction outpaced actual need in some places. Xi’s mantra: “Houses are for living in, not for speculation.” Evergrande epitomized the risks Beijing wants to fix. The company borrowed with apparent abandon to expand, while rumors of its hidden debt load threatened broader disruption to the financial system. Ultimately, Xi wants to create a more resilient housing market that better serves China’s people and reduces the risk of a massive price crash. In fact, he wants to rewrite the playbook by moving away from debt-fueled growth to something much more sustainable—a model focused on boosting domestic consumer demand, as well as new technologies such as electric vehicles and batteries. “The ongoing economic transformation will be a long and difficult journey,” Pan Gongsheng, head of China’s central bank, said in a November address to bankers. “But it’s a journey we must take.” Yet the campaign to clean up real estate risk has shattered confidence, leaving people feeling poorer and undermining a core tenet of the revamp: getting consumers to spend and invest in new businesses. For many in China, owning a home is a core aspiration. Before the crisis, about 70 percent of household wealth was tied up in real estate, so price drops are particularly painful. Another development rattling consumers is that companies once seen as too big

(and too responsible) to fail are running into fresh trouble. As recently as October, Country Garden Holdings Co., once the nation’s biggest builder and an investment-grade borrower, defaulted on its debt, making it hard to believe the worst is over. Xi now appears to have reached his tolerance for pain in the property sector. Regulators are drafting a list of 50 property companies eligible for bank support, while weighing a plan that would let banks offer them unsecured loans for the first time. Still, sales of new homes have dropped in 24 of the past 29 months. And the crisis will leave scars on the nation’s housing stock. Unfinished buildings will be left empty through another harsh winter after rusting through this summer, while builders will scramble to finish projects with shoddy work before their employers run out of money. This risks thwarting the authorities’ push to clamp down on so-called tofu construction, which has become more obvious during extreme events like earthquakes and flooding. On a recent trip to survey the building sites of a developer in debt restructuring, a lawyer tested the sturdiness of a balcony railing in Guangzhou only to find it came away from the wall in his hand. (He requested anonymity because he wasn’t authorized to speak publicly about his clients.) Even if a homebuyer wanted to take advantage of lower prices, there’s little reason to have faith that apartments will be delivered on time or in decent shape. Bloomberg News

eye stronger cooperation

HE Philippine Deposit Insurance Corp. (PDIC) announced last Monday it conducted the Mindanao leg of its “Convergence,” a dialogue with members of the Oro Bankers Club and the Misamis Oriental Bukidnon-Camiguin-Iligan Federation of Rural Banks (MOBCI), on November 28, 2023, in Cagayan de Oro City. “‘Convergence’ is a sustained initiative since 2019 and is aimed at fostering stronger partnership between PDIC and the banking community to help build depositor confidence in the banking system,” read the statement issued by the PDIC. “The PDIC, as the state deposit insurer, works closely with the banks towards their shared goal of protecting the depositing public and promoting financial inclusion in the country.” Early this year, the PDIC conducted the Luzon and Visayas runs of the “Convergence” series by meeting with bank groups in Cebu and Pampanga, the government insurer said. According to the PDIC, its conduct of the dialogue with the Mindanao bank groups enabled it “to discuss anew its roles in supporting the banking community by working closely with the member institutions of the Financial Stability Coordination Council, to mitigate systemic risks through

timely macroprudential policy interventions.” “The dialogue also discussed the salient provisions of the amended PDIC Charter, which equipped the PDIC with enhanced authority to adjust the coverage of deposit insurance, if warranted; as well as ensured a more effective coordination between the PDIC and the Bangko Sentral ng Pilipinas (BSP),” it added. The PDIC, under its amended Charter, is now attached to the BSP for policy and program coordination. The PDIC, likewise, encouraged the bank groups to maximize opportunities for partnership with the Corporation through relevant information-sharing, participation in PDIC programs, consultations, and dialogues, as well as the sharing and promotion of PDIC-produced multimedia tools to encourage the habit of saving in banks. Through the dialogue, bank groups also get to raise queries and other clarifications directly with the PDIC’s top management, thereby promoting better communication and coordination between the PDIC and the members of the banking community, the PDIC said. The “Convergence” series will continue to be held in various key places nationwide in 2024, it added.

Health&Fitness BusinessMirror

B4 Thursday, December 21, 2023

Editor: Anne Ruth Dela Cruz

Commercial food items targeting young Eat healthy, keep safe this holiday season–DOH Secretary children contain high sugar, salt content

By Claudeth Mocon-Ciriaco

arents, beware! Your children might be eating commercial foods that are high in sugar and salt content. A new study across seven countries showed that high sugar and salt content in commercial foods are marketed for young children in Southeast Asia. The study revealed that an alarming 72 percent of snacks and finger foods targeting children under three years old contain added sugars and sweeteners. A new study, supported by UNICEF and partners of the Consortium for Improving Complementary Foods in Southeast Asia (COMMIT), assessed more than 1,600 infant cereals, purées, pouches, snacks and ready-to-eat meals marketed for young children in Cambodia, Indonesia, Lao PDR, Malaysia, the Philippines, Thailand and Vietnam. The results of the study, which were released on December 14, 2023, revealed high sugar and salt content in commercially produced packaged foods marketed for children aged six months to three years in Southeast Asia, as well as the widespread use of potentially misleading and deceptive labelling and lack of strict regulations around product composition and sale. It also studied consumer behaviors

and existing regulations in the seven countries.

Deceiving parents THE study found that nearly half of the products studied (44 percent) included added sugars and sweeteners; among snacks and fingers foods, this rose to 72 percent. When it came to salt content, more than one third of the products studied included more sodium than recommended. Furthermore, nearly 90 percent of the labels on the products studied included potentially misleading or deceptive claims about their composition. “Far too many of the food products being marketed to the youngest girls and boys are unhealthy and labelled in ways that may deceive parents,” said Debora Comini, UNICEF Regional Director for East Asia and the Pacific. “Children and their parents deserve better.” Commercially produced complementary foods are a common part of the diets of young children in Southeast Asia, with 79 percent of mothers from urban centers reporting they

provide these foods to their young children daily.

On the rise ACROSS Southeast Asia, the sale of commercially produced complementary foods has risen by 45 percent in the past five years. In terms of regulation, the study noted that none of the seven countries had national policies on the composition and labelling of commercially produced complementary foods which follow all international guidance. Several countries were found to have no legal measures to regulate the sugar or salt content of commercially produced complementary foods. Countries with maximum sugar or salt thresholds often only applied them to certain categories, such as cereals or snack foods, and the thresholds were higher than international standards. Sugar intake early in life can lead to cavities, weight gain, and poor eating habits, while high sodium intake can lead to high blood pressure, with impacts that can be lifelong. Extensive use of claims was also found, with claims about product composition or nutrient content appearing on nearly 90 percent of the products assessed. Common claims appearing on products with high sugar, salt or fat content included “all natural,” “good source of vitamins,” and “no artificial ingredients.”

English only labels FURTHER, in Cambodia, Philippines

and Lao PDR, the majority of products were only labelled in English or non-national languages, limiting the ability of parents to make informed choices to ensure nutritious diets for their children. “Governments and food producers can, and must, play a stronger role in safeguarding the health of the youngest children,” underlined Comini. “Good nutrition in the first years of life helps children thrive, fueling prosperous families, productive workforces and powerful economies,” Comoni addes. On the other hand, she said, poor nutrition increases the risk of stunting, wasting, micronutrient deficiencies, overweight, obesity and disease, ultimately coming at great cost to children and their families, but also to healthcare systems and economies.”

UNICEF and COMMIT partners are calling for: 1. Improved government regulations for commercially produced complementar y foods, including prohibiting the use of added sugars and sweeteners, limiting sugar and sodium content, and prohibiting misleading marketing and labelling. 2. Strict government monitoring and enforcement of national regulations on commercially produced complementary foods. 3. Support for parents to provide a diverse array of nutritious food to their youngest children and navigate deceptive marketing and labelling practices.

ow to have a healthy Christmas? Health Secretar y Teodoro Herbosa reminded the public to limit the intake of foods that are salty, fatty, and sweet on the Christmas table. “Let’s opt for healthier choices,” Herbosa said, adding that fruits would be a better dessert option.

Fish THIS season of giving, the DOH said, it is better to serve your family milkfish which is rich in Omega-3. “It’s good for the heart and development of the brain and memory of the kids,” the DOH said.

Chicken HAM is considered as the “star” of Noche Buena. “Why not try chicken as an alternative? “ the DOH said. “Manok ang i-H A M da! W hole chicken, pineapple juice and chunks, some spices, at pampalasa, that will bring out the natural flavors of food and voila! Chicken Ham na!,” the DOH added. The DOH said that chicken meat is rich in protein, antioxidants, and strengthens the body and the immune system.

Fresh lumpia THE DOH said that it is also better to prepare fresh lumpia. “Most of the ingredients of fresh lumpia is are glow foods, mostly a group of vegetables and fruits, that are rich in rich in vitamins and miner-

als that can fight infection and boost immunity,” the DOH said. Here are some health tips from the DOH for the Christmas Season: n Plan Christmas activities for yourself and your family to prevent tension and stress. n Take care of yourself and your family against changes in temperature. Children and adults may become susceptible to cough, colds and fever. If your cough, colds and fever are more than five days, consult your nearest health station. n Prepare a well-balanced Noche Buena and Media Noche meal. n Be kind to your heart. Eat moderate amounts of nutritious foods to sustain your daily activities. n Drink plenty of liquids. Drink plenty of water and fruit juices to facilitate excretion. n Have enough sleep. Give yourself enough sleep so that the mind and body can rest. n Avoid crowded areas because bacteria that cause diseases multiply and spread easily. Airy and wellventilated areas are essential to healthy living. n Use env i ron ment - f r iend ly Christmas decors that cost less and are not fire hazards. Save decors for next year and store them in a safe place. n Buy toys with no pointed or sharp edges; nor too small toys that can cause choking. n Do not use fireworks and firecrackers during the holidays. You can make noise without fireworks and firecrackers. Claudeth Mocon-Ciriaco

MakatiMed earns Hall of Fame distinction at 2023 DOH Hospital Star Awards

surveyors in October 2023. The comprehensive evaluation encompassed cr itica l areas of hospita l operations, including infection control, antimicrobial stewardship, quality management, employee satisfaction, clinical practice guidelines, social and community responsibility, human resource development, patient satisfaction, public health prog rams, r isk assessment, and management, among others. T he Hall of Fame distinction symbolizes not just an individual or divisional triumph but a collective contribution of MakatiMed ’s

a k ati Med ica l Center (MakatiMed) attained the Hall of Fame distinction at the 2023 Department of Health (DOH) Star Awards, the first and only National Capital Region hospital to do so. Recognized for consistently surpassing the highest standards set by the Department of Health, this celebrates MakatiMed’s accomplishment in continuously achieving quality excellence in healthcare. T he 2023 DOH Hospita l Star Awards highlighted MakatiMed ’s outstanding per for mance across various divisions assessed by DOH

clinical, paramedical, and corporate leaders, in harmony with their respective communities. Dr. Saturnino P. Javier, Medical Director and Co-President and CEO of Makati Medical Center, expressed his gratitude, stating, “This accolade is a tribute to the relentless dedication of every member of the MMC family, from our frontline healthcare providers to our support staff. It is a testament to their unwavering commitment to serve and heal, ref lecting our ongoing mission to deliver exceptional healthcare to our patients.”

Control mold spores in the house by controlling indoor moisture By Rory Visco Contributor

here is no denying that molds are part of nature since they function by breaking down and digesting plant and animal matter and other organic materials in our environment. However, the benefits that molds offer end the moment they start growing indoors, essentially in our homes or even offices, and they can have nasty and deadly effects, especially on our health. According to the United States Environmental Protection Agency (EPA), the reproduction process of molds begin through tiny spores, those that are invisible to the human eye and can drift, glide and float in the air, whether indoors or outdoors. The US EPA said mold may begin growing indoors when mold spores land on wet surfaces. There are many mold types, says the US EPA, and none will grow without water or moisture.

Health problems due to molds THE moment molds land on a wet or damp spot and they grow, that’s when health problems arise, according to the US EPA. “Molds produce allergens (substances that can cause allergic reactions), irritants, and in some cases, potentially toxic substances (mycotoxins). Inhaling or touching

mold or mold spores may cause allergic reactions in sensitive individuals. Allergic responses include hay fever-type symptoms, such as sneezing, runny nose, red eyes, and skin rash (dermatitis).” The United States Centers for Disease Control and Prevention (CDC) said “exposure to molds in the air could bring about ailments including sore throat, cough, stuffy nose, burning eyes, and skin rash. These could also be an immediate trigger for people with asthma, while immunocompromised ones and those with chronic lung disease may incur severe respiratory infections.” As the weather shifted from the hot to the rainy season, people can expect humidity levels to shoot up in places such as homes or offices, and this condition can spur the reproduction of molds. However, molds still need moisture in order to grow, and they usually appear as spots or stains on ceilings, walls, and other surfaces. In areas where moisture management such as water leaks, flooding, condensation and yes, high humidity, is present, expect molds to spread further and stay on materials such as wood, dry wall, paper, insulators, even fabrics such as carpet or upholstery.

Getting rid of them SINCE they float through the air and in

house dust, the CDC said it would be impossible to get rid of all mold and mold spores found indoors. They can be prevented and controlled from spreading by controlling indoor moisture. Home or office maintenance personnel should clean up the mold and fix the moisture issue. If the mold has been removed but the moisture problems remain, then there is the high likelihood that mold will simply come back.

Mold remediation treatment GETTING rid of mold is not easy, but “mold remediation,” a process utilized by experts with the help of effective solutions, is most recommended. However, the process could be complicated since it requires unique skills and expertise in order to control mold contamination. According to Ederine Gee Geneblazo, President/Managing Director of Rentokil Initial Philippines, the Mold Remediation Treatment is a multi-step process that starts with a comprehensive pre-assessment in order to determine and identify the cause. “This aspect also dictates the process of removal of mold, whether via steam, spray, space treatment or a combination of all. After removal, maintenance is recommended such as through a moisture control pouch, air purifier and/or air sterilizer.” Geneblazo also echoed the fact that

molds grow in environments with high humidity. “When everything was closed down during the pandemic many commercial buildings like retail shops and store outlets experienced this because of prolonged shutdown of businesses and poor air circulation.” While there are do-it-yourself solutions for mold removal, Geneblazo said it would be wise to let the professionals handle the problem. She said that mold can possibly survive simple treatments and may still continue to grow and infect more areas in the house or office, emphasizing that mold spores will remain and continue contaminating the air people breathe if not effectively controlled at once. She said that the Initial Hygiene Mold Remediation Treatment is based on the science and facts from the pre-assessment, and expertise of the microbiologists of Initial Hygiene, which has been in the business of providing remedies to unwanted manifestations of fungi, bacteria, a nd other harmful microorganisms whether at home, in the office, or just about any indoor space for the past 120 years. “All the steps in the program will help identify, address, and prevent molds and we provide the expertise that will help people understand how and guide them through in addressing mold issues.”

REPRESENTATIVES and volunteer healthcare professionals from Therma Visayas Inc. and Aboitiz Foundation, as well as barangay officials and health workers pose for posterity during the “Project MATCH: Magnifying Access to Community Health” medical and dental mission in Barangay Cabitoonan, Toledo City.

Aboitiz units bring medical outreach project to communities in Toledo City By Roderick L. Abad Contributor

LOSE to 1,000 families in Toledo City, Cebu have benefitted from the continued mobilization of Project MATCH: Magnifying Access to Community Health by Therma Visayas Inc. (TVI) and Aboitiz Foundation. The quarterly initiative this time concentrated on efforts on communities nearest to TVI, including Barangays Cabitoonan and Bato to address prevalent health needs in these underserved areas. During the three-day mission from December 8 to 10, 2023 local residents availed of free medical and dental check-ups courtesy of volunteer doctors. They also learned from health and wellness information, education and communication campaigns. Meanwhile, barangay health record systems in these areas were updated.

Collaborative initiative STARTING out as a typical medical mission, Project MATCH soon became a collaborative effort with the City Health Office and the Barangay health centers to enhance preventive healthcare at the local level. In this leg, local leaders, including Cabitoonan’s Barangay Captain

Gerardo “Jerry” Lazarte and Bato’s Barangay Captain Rosalio “Otam” Cereno, along with the active participation of barangay council members, health workers, as well as TVI and Aboitiz Foundation volunteers came together for this cooperative action. “A healthy, informed, and vibrant community is important to us, that’s why it is vital to go beyond shortterm interventions and look at a multistakeholder approach to make healthcare services more accessible to the community,” said TVI Facility Head Noel Cabahug. “We are grateful for the continuing health missions of TVI. From the beginning, we have been a partner for our communities in implementing meaningful health, livelihood and educational programs, bridging the healthcare gap,” he added. Operating a state-of-the-art power plant certified in five ISO standards— Quality Management, Occupational Health and Safety, Environmental Management, Asset Management, and Business Continuity Management— TVI is focused on creating a positive impact in its host communities. This subsidiary of AboitizPower has 340-megawatt baseload power plant in Barangay Bato, Toledo City, which plays a pivotal role in providing electricity to the region, supporting Cebu’s rapid economic growth.

Parentlife BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos • Thursday, December 21, 2023

Family holiday travel digital security tips PHOTO BY TOM BARETT ON UNSPLASH

Chef RV Manabat unveils mom’s treasured and loved leche flan recipe THE viral and sensational Chef RV Manabat, known for his millions of social-media followers on YouTube, Facebook, and Instagram, the brains behind the selfnamed Chef RV Cafe in Biñan, Laguna, has launched his Christmas Recipe Collection, to include treats such as Chicken Ham, Blueberry Cheesecake, and Easy Fruit Cake. “Today, I wish to share my Nanay Rose’s 40-yearold Leche Flan recipe,” he stated. “As a cherished family tradition, we always prepare this during Christmas and on the San Antonio de Padua fiesta.” Chef RV does not compromise when it comes to quality. “My Nanay Rose is very strict with which citrus to use. She only has fresh dayap [key lime] for that beautiful familiar aroma,” he emphasized. Chef RV likewise shares a secret technique—strain the mixture in cheesecloth at least twice to ensure a smooth batter. “Steam over very low flame to prevent bubbles from forming,” he added. A De La Salle-College of Saint Benilde graduate and a master’s degree holder in food studies from the Boston University in Massachusetts, USA, he does not shy away from sharing his knowledge with his viewers and fans. In fact, he continues to tirelessly create videos of recipes so that average Filipino can try them in their very own home kitchens, with appropriate substitutions for hard-to-find ingredients. NANAY ROSE’S LECHE FLAN Ingredients: 1/2 cup white sugar 300ml condensed milk (2 cans) 370ml evaporated milk (1 tall can) 12 egg yolks 6 pcs dayap zest, finely grated 3 to 4 pcs llaneras Procedure: 1. Divide 1/2 cup white sugar between the prepared llaneras. Cook each llanera over medium flame until the sugar has caramelized. Set aside. 2. Beat all the other ingredients together until smooth. Strain with a cheesecloth at least twice. Divide between the llaneras lined with caramel. 3. Steam over low flame for 40 minutes, or until almost set. Cool and serve.

‘R

IGHT now, people are already aware of different types of online scams and data breaches. So, it’s understandable that some travelers would feel a certain level of anxiety when traveling. Outside the convenience and security of our homes, especially when we travel out of town or overseas, threats increase significantly. The environment changes drastically and presents unknown circumstances so this situation calls for a heightened sense of cyber security awareness and proactive practice of cyber hygiene on the part of the traveler,” says Yeo Siang Tiong, general manager for Southeast Asia at global security expert Kaspersky. “With loved ones in tow, Filipino travelers would definitely wish for nothing but happy and successful trips. Planning travels for months far in advance explains that. During travel though, it’s inevitable to potentially run into issues like having a patchy phone or Internet connection to immediately access services or help if needed. And this may prompt one to just connect to what’s readily available but not exactly secure. That’s why we keep on repeatedly reminding people about adopting cyber hygiene—even the basics and most common steps because they may not appear obvious and take a lot of practice until they develop into a habit. With the list below, I hope the Filipino travelers’ anxiety would be eased and they can fully enjoy their trips this holiday season,” adds Yeo. Below are some tips for family cyber security when travelling: 1. Never leave your belongings unattended. Leaving your backpack unattended in the airport for a minute or two can result in it being physically destroyed by security guards. It’s not just about airports, though. Keep the things that matter to you (such as your phone, your laptop, and so on) with you at all times, wherever you go. Yes, take all of your gear when leaving your hotel room. No, don’t leave your laptop on the table in the café if you need to go to the restroom. Devices need to be password-protected and locked when not in use. 2. Make sure your devices are encrypted. Carrying all of your stuff with you all of the time doesn’t mean your devices won’t be stolen. We all know that the information on the device is usually worth significantly more than the device itself, so it’s the information you need to protect the most. That’s why you need to make sure that the entire storage unit in your device is encrypted. Devices with the latest versions of Android are encrypted by default, and so are iOS devices protected with a passcode or password. Encrypting your data when using risky

public WiFi (if it cannot be avoided) for online privacy (such as when storing files to a hard drive) and encrypting your browser when making payments (for safe shopping while on a trip, for example) are possible if your device is installed with a security protection like Kaspersky Premium. This is available in Lazada and Shopee. 3. Learn how to find bugs and hidden cameras and fool them. We’ve heard creepy stories about hidden cameras in AirBnBs. It’s still happening, and you never know who’ll be the next victim. And if you happen to be a businessperson, a politician, a human rights activist, or a journalist, someone may try to set up hidden microphones, or bugs, in your hotel room or rental apartment to eavesdrop on you. Fortunately, finding hidden surveillance devices is not that hard. You’ll need a small tool, which costs less than P2,500 in online stores, that has a radio frequency scanner allowing you to find sources emitting electromagnetic waves, which wireless bugs and cameras usually do. You can also use the sound of water running from the tap or just some noise that can be produced using services such as Noisli to mask your conversations. 4. Know how to spot a dual-view mirror.

Remember those two-way mirrors from interrogation rooms in the movies? A person inside the room sees it as a mirror, but someone on the other side sees it as a window looking into the room. They’re rare, though. But they do exist, and if you unexpectedly find yourself deep in the plot of a spy movie in real life, now you’ll know how to protect yourself from such mirror tricks. Usually, it’s rather easy: Place a finger on the surface of the mirror, and if there is a gap between the finger and its reflection, it’s a normal mirror, with a layer of glass above the reflective surface. If there is no gap, the mirror may be a twoway—and there might be someone on the other side looking at you or recording you. 5. Use wired mouse and keyboard. You already know it’s a mistake to use the publicly accessible PC in the hotel lobby, or one belonging to your host. You probably brought your own laptop with you, anyway. But if you use an external keyboard or mouse, you should also bring a trusted wired version with you. Known attacks allow another person either to sniff what you type or click using wireless peripherals or to inject clicks—even if the communication between your peripherals and the computer is encrypted. n

Students could get more sleep and learn better if school started a little later By Joanna Fong-Isariyawongse, MD University of Pittsburgh Nearly three-quarters of high school students do not get enough sleep on school nights, according to the Centers for Disease Control and Prevention. The National Sleep Foundation recommends that teens sleep for eight to 10 hours per night. But various factors hinder this, including early school start times and shifts in adolescents’ circadian rhythms—the biological internal clock that regulates the sleep-wake cycle and repeats roughly every 24 hours. Healthy sleep is crucial for teens’ physical, cognitive and emotional development. When teens don’t get enough sleep, it can have lifelong impacts. They range from poor mental health to lower attendance and graduation rates. While parents, educators and school administrators cannot alter biology, they can change school start times to allow students to obtain sufficient sleep for academic success and physical and mental well-being. In fact, the American Academy of Pediatrics recommends pushing back school start times to 8:30 am or later. Around the world, school start times vary considerably, from 7 am in Brazil to 9 am in Finland. While I’m not aware of any global dataset or research on the relationship between school start times and academic performance, Finland was ranked No. 2 on the list of best educational systems in the Global Citizens for Human Rights report in 2020. Canada, where the average school day begins at 8:30 am, was ranked No. 4.

Sleep and the teenage brain

PARENTS may notice that their kids, who were once early birds, start to sleep later and later as they hit their teen years. This is not just due to typical teen behavior like playing video games late at night, but rather it’s a biological response. During adolescence, changes in hormone levels, along with physical and brain maturation, lead to natural shifts in the circadian rhythm. The body tends to delay the release of melatonin, the hormone responsible for bringing on drowsiness at night. Consequently, teens often find it challenging to fall asleep early, leading to a later bedtime. This delayed circadian rhythm also results in a preference for waking up later in the morning. These changes clash with societal and cultural expectations such as early school start times, often contributing to sleep deprivation among teenagers. More than 80 percent of public middle and high schools across the United States start before 8:30 am, with 42 percent starting before 8 and 10 percent before 7:30. Consequently, bus pickup for some children can be as early as 5 a.m. in some districts. What follow are four negative outcomes associated with early school start times.

Hindered academic success

NUMEROUS studies have linked early school start times to poorer performance on academic tests. One study looked at school start times, graduation rates and attendance rates for 30,000 students in 29 high schools across seven states. It found a significant improvement in attendance rates, from 90 percent

to 93 percent, and graduation rates, from 80 percent to 90 percent, four years after delaying school start times to 8:30. Sleep deprivation has been shown to worsen memory, learning ability, attention span, creativity, school attendance and first-period tardiness—a perfect storm for poor academic performance.

Poorer mental health

A RECENT advisory from the US surgeon general raised the alarm on the harmful impacts of social media on youth mental health. Researchers have unearthed mounds of evidence on the negative effects, including poor body image. In these discussions, however, a simple yet powerful solution for improving mental well-being is often overlooked—the profound impact of sleep. During REM sleep—or the dream state—our memories consolidate and we process emotions. Insufficient sleep increases the risk of depression, anxiety and suicide among adolescents. One study showed that for every extra hour of sleep among adolescents, their risk of suicide decreased by 11 percent.

Impaired physical health and social behavior

SLEEP is fundamental for physical well-being. For both children and adults, it plays a key role in essential bodily functions. During slow-wave sleep— or deep sleep—our bodies restore themselves: Our immune system strengthens to keep us healthy. And our waste-clearing glymphatic system eradicates

neurotoxic proteins, which are linked to diseases like Alzheimer’s. Sleep deprivation is associated with higher rates of obesity, diabetes, cardiovascular problems, chronic health conditions, physical injuries and weakened immune function. Sleep-deprived students are more likely to fall asleep when sedentary, such as when driving a car. Motor vehicle accidents related to driving while drowsy are especially prevalent among teen drivers. Sleep-deprived students are also more likely to demonstrate aggression, struggle with social communication and engage in risk-taking behaviors. One study found that the amount of sleep that high school students get is directly related to their engagement in unsafe behaviors, such as substance abuse, risky driving, aggressive behavior and tendency toward self-harm.

An economic cost

THE economic ramifications of this crisis may not be immediately obvious, but they are undeniable. Contrary to concerns that delayed school start times might increase transportation costs by changing bus schedules, a 2017 study conducted by the nonprofit RAND Corp. found that the economic benefits far outweigh the expenses. The study showed that a universal shift to 8:30 am school start times would result in an $8.6 billion gain in the US economy over two years. Investing in delayed school start times, therefore, isn’t a drain on resources. Instead, it contributes to a healthier future for generations to come. THE CONVERSATION

Thursday, December 21, 2023

www.businessmirror.com.ph

POPE FRANCIS CONFERS HIGHEST AWARD ON FIVE CARITAS MANILA LAY LEADERS, BENEFACTORS

Ramon del Rosario, Jr., Chairman and Chief Executive Officer of PHINMA Corporation and Vice Chairman of Caritas Manila

Fernando Zobel de Ayala, Board Director of Ayala Corporation and member of the Board of Trustees of Caritas Manila

Manuel V. Pangilinan, Chairman and President of Metro Pacific Investments Corporation and member of the Board of Trustees of Caritas Manila

Maria Gonzalez Goolsby, former Senior Vice President of UnionBank and Professor and Research Director of Ateneo Professional School of Business and one of Caritas Manila’s leading patrons

Arnulfo Veridico, one of Caritas Manila’s long serving head volunteers.

OPE Francis has bestowed the Pro Ecclesia et Pontifice, Latin for “For Church and Pope” award on five Filipinos for their long and distinguished service to the church. The individuals are known for contributing to the success of the programs and activities of Caritas Manila, the Catholic Church and their worthy charitable and humanitarian works. The awardees are Ramon del Rosario, Jr., Chairman and Chief Executive Officer of PHINMA Corporation and Vice Chairman of Caritas Manila; Fernando Zobel de Ayala, Board Director of Ayala Corporation and member of the Board of Trustees of Caritas Manila; Manuel V. Pangilinan, Chairman and President of Metro Pacific Investments Corporation and member of the Board of Trustees of Caritas Manila; Maria Gonzalez Goolsby, former Senior Vice President of UnionBank and Professor and Research Director of Ateneo Professional School of Business and one of Caritas Manila’s leading patrons; and Arnulfo Veridico, one of Caritas Manila’s long serving head volunteers. Also known as the Cross of Honor, the decoration was instituted by Pope Leo XIII in 1888 to commemorate his golden sacerdotal jubilee. It was made a permanent distinction in 1898 that aims to reward people for their

services to the church and the pope. It is one of the highest honors that the Pope can bestow upon the laity and the religious. The conferment of the Pro Ecclesia et Pontifice award will be held on January 17, 2024 at the Manila Cathedral. Archbishop of Manila Jose Cardinal Advincula extended his congratulations to the recipients for their “outstanding and generous service to the church.” Caritas Manila Executive Director Fr. Anton CT Pascual expressed his gratitude for the steadfast dedication of the honorees saying,

Angkas hires Austrian tech expert to address app issues amidst strong holiday demand

IDE-HAILING and tech-enabled transport services provider Angkas has added a distinguished tech expert to its team to help revamp its app experience and solve technical issues, especially at the peak of demand during this holiday season. At the recent general assembly of their over 200 chapter presidents, Angkas Chief Executive Officer (CEO) George Royeca introduced Josef Puchinger, a tech whiz entrusted to improve the platform’s performance and user interface. H ailing from Vienna, Austria, he brings with him an impressive 28-year tech career, building scalable systems worldwide, including key contributions to internet

banking and a leading sports betting platform. His previous stint in the logistics sector, developing delivery apps similar to Angkas, is deemed fit for this critical role. Puchinger is committed to help in the team’s efforts to refine the app, guaranteeing bikerpartners that they working round the clock to raise its functionality. He said: “When you face challenges with bookings, rest assured, the Angkas Tech Team is fully engaged. I’ve personally relied on Angkas daily since arriving in Manila, and I deeply appreciate this exceptional service.” The latest technical glitches in the booking system were attributed by Royeca to an outmoded

“As Caritas Manila celebrates its 70 years of uninterrupted ser vice to the poor and marginalized, we thank all our leaders, donors, and volunteers in ensuring our mission is sustained. We express appreciation in the long serving lay leaders of the church of the poor.” Do your par t to ser ve the church and help others. Call Caritas Manila at 85628556 or 8562-0020 (to 25) loc. 141 or 142, 0905-428-5001 or 0929-834-3857. Log on to www.caritasmanila.org.ph , visit www. facebook.com/OfficialCaritasManila , Instagram @officialcaritasmanila and Twitter @ CaritasManila. system. With today’s limitations in scalability, he emphasized their ongoing efforts to maximize operations for both riders and passengers. “While our app may resemble a well-optimized Honda Civic engine-wise, we’re relentlessly finetuning it to ensure seamless bookings, especially during the demanding November-December period,” said the CEO, who asked for patience and understanding from their biker-partners amidst these improvements. Royeca bared plans for a new Angkas app set for release next year, which is designed to increase efficiency and income opportunities for riders. “This upcoming app signifies our evolution as a Filipino company. We’ve grown significantly, and our aim is to achieve world-class status—a challenging endeavor. Think of the new app as the ‘Angkas Ferrari’—a superior and refined experience,” he said.

Radenta Offers 30-Day Free Trial on Xero Accounting Software

ADENTA Technologies, one of the country’s leading solutions integrators, is launching another game changer for everyday business. Xero Accounting Software is available with a 30-day free trial period. Xero is the Accounting Software to do your “todo.” It is an accounting software with the right tools for small businesses, accountants, and bookkeepers. Xero has over 3.95 million subscribers worldwide. Keep on top of bills. Xero puts you on track to pay your bills on time, every time with a clear overview of accounts payable and cash flow. Get an overview of unpaid bills, expenses, and purchase orders. See bills in draft, waiting for approval, or ready to be paid. Avoid late fees. Schedule all kinds of payments. Xero allows you to schedule payments and batch pay suppliers. Pay suppliers with multiple bills in one simple transaction. Schedule payments in advance so they are all ready to go. Store bills in one place. Email bills and other documents to your files’ inbox in Xero for paperless record keeping. Organize and file bills in folders. Access your bills at any time, from anywhere. Open and display bills on screen as you are entering the data. Set up repeat and replicating bills. Replicate the last bills from suppliers and then review, add, or amend details, as necessary. Recover costs on billable expenses. Protect profit margin by oncharging customer expenses. Assign any costs recovered to the relevant customer when the bill comes in. Run reports to see the details. See individual bills, credit notes and overpayments

owed with the aged payables detail report and see how long bills have gone unpaid. For an up-to-date view, run the report after entering purchases and reconciling bank transactions. Claim expenses. The Xero expense manager tools capture costs to submit and reimburse claims and view spending. Take a photo of receipts using the receipt scanner in the Xero Me app. Details are scanned from your photo receipt to auto fill the claim. Track and record your mileage. Submit an expense claim in one click with the receipt attached. Reimburse expenses quickly. Get notified as soon as an expense claim is submitted. Quickly review and approve expense claims. Simply pay expense claim the same way you pay other bills. Monitor employee spending. Manage expenses with accurate views of spend and when reimbursement is due, to help manage cash flow. Keep an eye on expense claims with real time reporting. Spot trends and insights so you can plan. Forecast and budget with real time figures. Manage expenses wherever you are. Xero Me app speeds up submission and approval of expense claims on the go with a mileage tracker. Track and submit mileage using the map in the mobile app. Review and approve claims from your phone for fast turnaround. Track expenses on the dashboard. See charts that display real-time figures for expenses filtered by employee, status, and expense account. Bank Connections. Xero customers save 5.5 hours a week using bank feeds and automated reconciliation. There is no limit to the number of

bank account connections you can have. Get bank data into Xero with bank feeds. Get feeds from multiple banks and from any number of bank accounts. Import up to 12 months of historical data when you first connect. Export bank data from your online banking in OFX, QIF, QBO, QFX, or CSV format then upload it to Xero in seconds. Duplicate transactions are checked and excluded by Xero. Get an up-to-date financial picture. Once your bank data is in Xero, you can quickly and easily reconcile transactions for a more accurate, complete, and updated picture of the money coming in and going out. Xero provides multiple layers of security. Only people you give access to can see your transactions in Xero. Transactions are only shared between your bank, Xero and any other disclosed third party. Xero cannot make payments or move money from your accounts through your bank feed connections. There is a lot more you can do with Xero. Accept payments, track projects, do pay runs, manage Xero contacts, use Xero for online file storage, reporting, inventory, online invoicing, multi-currency accounting in as much as 160 currencies, place purchase orders, submit quotes, compute sales tax, manage fixed assets, integrate apps, and keep an eye on everything with your own accounting dashboard. Radenta can show you how to best manage your finances with only Xero. Call (02) 8535-7801, 0908-812-4891, email info@radenta.com or log on to www.radenta.com.

ATI South Habor supports post-Covid Philippine cruise tourism reboot

FTER assisting the government’s pandemic response, port operator Asian Terminals Inc. (ATI) has shifted its full support for the revival of Philippine cruise tourism as it reopened facilities for luxury cruise liners and multinational passengers at the heart of the country’s capital. The newly refurbished Eva Macapagal Manila Cruise Terminal (MCT) restarted its operations recently from a three-year hiatus after augmenting the government’s urgent pandemic response as a 200-bed capacity Covid-19 temporary isolation facility. MCT gives Filipinos and foreign travelers the unique opportunity to begin their cruise from Manila, instead of flying to distant regional hubs. At its peak in 2018, MCT seamlessly handled over 160,000 inbound and outbound cruise passengers without any drawback. The terminal is equipped with passthrough scanners, baggage x-ray machines, all-gender restrooms, lactation room for the privacy of nursing mothers, clinic with healthcare professionals and a standby ambulance, mobility features for seniors, pregnant, and disabled passengers, and dedicated check-in and immigration counters, among other traveler requirements. Aligned with the “Love the Philippines” tourism campaign, the fully air-conditioned terminal is fitted with spacious passenger lounges aptly named after Luzon, Visayas and Mindanao, the country’s major islands groups. MCT is strategically located near Manila’s historical and cultural landmarks such as Luneta Park, Intramuros, the National Museum, Binondo District which is recognized as the oldest Chinatown in the world, and nearby restaurants, hotels, and major shopping and entertainment centers.

Last November 30, MCT hosted the homeporting of MS Norwegian Jewel, its first outbound cruise liner since the pandemic with around 2,400 embarking and disembarking passengers. With the pent-up passenger enthusiasm, unexpected disembarkation outflux, mandatory border checks, road obstructions in the periphery, and the coinciding Holiday trade rush, logistical and roadside challenges were reportedly encountered by passengers. The isolated occurrence subsequently normalized with the collaboration of authorities and stakeholders, with more seamless operations expected in the future with greater coordination among industry players. Supporting the government’s port-centric economic programs is second nature to ATI as its reliable private-sector stakeholder in port modernization and development through its productive long-term partnership with the Philippine Ports Authority and other trade and maritime agencies. Apart from serving as a critical linchpin in boosting government’s public healthcare response during the pandemic, ATI’s Manila Cruise Terminal helped repatriate stranded Filipino seafarers and cruise personnel when international borders were hindered by worldwide lockdowns. It also doubled as an important one-stop crew change hub, ensuring that foreign vessels anchored in Manila were adequately staffed to avoid delays and sustain the flow of international trade. In Batangas, ATI is set to unveil the fully modernized Batangas Passenger Terminal early in 2024, officially making it the country’s biggest interisland hub featuring world-class facilities and amenities for the safe and convenient journey of around 6,000 passengers in any one time.

HUNDREDS of students from the Rajah Soliman Science and Technology High School give the thumbs-up with Go Negosyo founder Joey Concepcion and entrepreneurship mentors at the pilot of the in-school Youthpreneurship event at the school’s campus in San Nicolas, Manila last December 13, 2023. The event is part of Go Negosyo’s partnership with the Department of Education to promote entrepreneurship among the Filipino youth.

Go Negosyo pilots youth entrepreneurship mentoring in Manila public high school

ENIOR High School students from a public school in Manila became the first to benefit from the pilot run of Youthpreneur, Go Negosyo’s joint project with the Department of Education to teach entrepreneurship among young Filipinos. More than 450 students from the Rajah Soliman Science and Technology High School participated in the half-day program last December 13, 2023 at its campus in San Nicolas, Manila. The students are under the Academic and the TVM (Technical-Vocational-Livelihood) tracks of the DepEd’s K to 12 Basic Education Program. The event was facilitated by the DepEd’s Bureau of Curriculum Development and is designed to promote an entrepreneurial mindset among the youth and build skills that complement the entrepreneurial aspect of the Senior High School curriculum. “We want to help the students in these schools succeed in life,” said Go Negosyo founder Joey Concepcion. In his message to the students, Concepcion said that having an entrepreneurial mindset is possible both as an employee and an employer. “Negosyo is one way, but it is not the only way,” he said. He encouraged the students to do their best in school and learn the basics by first becoming employees before trying their hands at business. “Learn from your employer and then eventually find that idea that matches your skill; then you can start your own business,” he said. “For those who are not able to reach college, it is not the end of your journey,” he told the students. “Strive for what you want to be. Determine if you have the skill to fulfill that dream, and make sure that your training will lead you to it,” he told the students. For ABM student Cedrix Justin Tan, attending Youthpreneur opened his mind to the “possibilities and outcomes ng real world.” As students, he said, their lack of experience and exposure may lead them to believe that putting up a business is easy. “As we get exposed to people who have experiences, knowledge and credibility, it has opened our perception to the

real world,” he said. For his part, Rajah Soliman school principal Raffy Caballes thanked the DedEd and Go Negosyo, saying that the Youthpreneur program aligns with the vision of the Senior High School program and equips the students to transform their lives through the inspiration and mentoring of the speakers who were brought to the school by Go Negosyo. The first half of the Youthpreneur program was a plenary session, starting with a talk by author and entrepreneurship consultant Henry Tenedero on how to have an entrepreneurship mindset. Also on hand to speak to the students was Shawarma Shack CEO Walther Buenavista, on how he founded and grew the successful food business. Later, entrepreneurs and content creators Ariella Diaz and Christine Jacob shared how they use social media for business. They also related how their academic backgrounds did not determine their future success as entrepreneurs, and how they instead capitalized on their skills to find their own niche markets. In the second half of the program, Concepcion led entrepreneurship mentors and successful businessmen to directly mentor the students. Volunteering their time to speak to the students were entrepreneurs Arnold De Guzman and Jordan Patente, franchise guru Butz Bartolome, Yovel East President James Amparo, and veteran entrepreneurship mentor Renea Tan. This is the first in-school Youthpreneur event of Go Negosyo, following the success of its free mallbased mentoring event for students at the SM City Fairview in Quezon City. Youthpreneur is part of Go Negosyo’s Memorandum of Agreement with the DepEd, which was signed last November to promote entrepreneurship, build skills through mentorship, increase financial literac y, raise agricultural awareness, cultivate entrepreneurial skills in agriculture, and facilitate industry connections for mentorship.

Envoys&Expats BusinessMirror

envoys.expats.bm@gmail.com

Thursday, December 21, 2023

R.I.A. CHAMP Ambassador Laure Beaufils (left) of the United Kingdom receives a plaque

of recognition from Director General-Secretary Ernesto Perez of the Anti-Red Tape Authority during the “Empowering the Next Generation RIA Champions (or ENRICH) 2023” event on December 5. The ARTA is pooling a new generation of Regulatory Impact Assessment (RIA) advocates to combat unnecessary regulations, while paving the way for a more efficient and effective government service. BEN BRIONES/PNA

VERSUS ‘COVID’ The Japanese government will fund the Asia-Europe Foundation’s ENVOY FOR E.O.D.B. Ambassador MaryKay L. Carlson (third from left) and Director GeneralSecretary Ernesto V. Perez of the Anti-Red Tape Authority (third from right) led the formal opening of a photo exhibit during the “2023 Ease of Doing Business Convention” late in November. The event brought together various stakeholders from various sectors in pushing for improvements in the business environment—including tightening of rules against red tape. BEN BRIONES/PNA

SFA, Japanese FM agree to expand cooperation in key areas of concern

HE foreign ministers of the Philippines and Japan graced the related events of the commemorative summit for the AseanJapan Friendship and Cooperation’s 50th year. Foreign Affairs Minister Yoko Kamikawa of Japan welcomed Secretary of Foreign Affairs (SFA) Enrique A. Manalo on December 16. The former stated that the two countries have made significant achievements—including linkages in areas such as security, economy, and people-to-people exchanges, while close Japan-Philippines and Japan-United States-Philippines coordination are realized via mutual summit-level visits between the two Asian nations. In response, Manalo appreciated that he was warmly received by the Japanese side and stated that he would like to further develop relations of their countries, in cooperation with Kamikawa. The Japanese minister also mourned the victims of the earth-

“Stockpile Project” with a $10,000,000 grant to boost preparedness and response against Covid-19 and other emerging diseases. The International Federation of Red Cross and Red Crescent Societies will implement the project across five Asia-Europe Meeting or ASEM countries: the Philippines, Bangladesh, Indonesia, Malaysia, and Pakistan. This significant initiative, according to Japan’s embassy, will facilitate the procurement and distribution of essential medical equipment and supplies. EMBASSY OF JAPAN/FB: ASEF

Argentinian diplomats lead cross-cultural sharing session

UST-OIRP associate director Prof. Karen S. Santiago PhD (from left); UST secretary-general Rev. Fr. Louie R. Coronel OP, EHL; UST OPA director Asst. Prof. Joreen T. Rocamora PhD; with Third Secretary and Consul Fabricio Sordoni and Trade Section Head Ana Clara Pianezza of the Embassy of Argentina. UST-OPA

quake and December 3 explosion in Mindanao, then extended her heartfelt sympathy to those who were affected.

Bilateral relations

KAMIKAWA remarked that she would like to further enhance cooperation in maintaining and strengthening maritime security as well as order-based on rule of law while steadily carrying out the provision of coastal surveillance-radar system through the official security assistance or OSA, and by providing patrol vessels by way of overseas development assistance or ODA. The two ministers concurred to continue their coordination to reach an early conclusion of the Reciprocal Access Agreement, as well as steadily proceed with the materialization

SECRETARY Manalo and Minister Kamikawa MINISTRY OF FOREIGN AFFAIRS-JAPAN

of Japan-US-Philippines cooperation, as well as transfer of defense equipment and technological partnerships. The Japanese official also stated that—taking the opportunity of the “Asia Zero Emission Community Leaders’ Meeting”’ and others—she would like to strengthen the collaboration in energy transition and decarbonization, as well as to continue to steadily promote infrastructure cooperation. In response, the SFA expressed his

appreciation for Japan’s cooperation to date, and his desire to further promote cooperation in the said areas.

Regional, global concerns

THE two ministers also exchanged views on various regional and international issues, then confirmed that they would continue to work together on such issues as the West Philippine Sea/South China Sea, North Korea, and the Israel-Gaza situation---including those concerning Filipinos held as hostages by Hamas.

RADE Section Head Ana Clara Pianezza as well as Third Secretary and Consul Fabricio Sordoni of the Embassy of Argentina in the Philippines discussed their country’s foreign policy, trade, higher education, history, culture, travel, and more during the inaugural University of Santo Tomas (UST) World Lenses: “A Cross-Cultural Dialogue with Students” held at the Dr. George SK Ty Hall. The diplomats interacted with economics, commerce, tourism, and history students across the 3-hour session jointly organized by the embassy and the university’s Office of Public Affairs (OPA) plus its Office for International Relations and Programs (OIRP). In his welcome remarks, UST’s secretary-general Rev. Fr. Louie R. Coronel OP, EHL shared that the inaugural lecture is a “testament of the power of education in fostering international understanding and cooperation.” Referencing the message of Pope Francis—who himself is Argentinian—that is written in the univer-

sity’s guestbook when he visited UST in 2015: “May the Lord bless all those studying and working for a culture of encounter,” Fr. Coronel further shared: “[Inspired] by our beloved Pope, we are having an encounter now, and we are blessed because of this. A blessed encounter indeed, which has the potential to expand each other’s horizons and broaden our understanding of a nation that is geographically distant and culturally rich.” The prelate added that: “As an institution, we firmly believe in the power of international cooperation and the importance of building bridges between cultures and nations, and this lecture is a step in that direction.” After the discussions, each diplomat led a parallel session, as Sordoni focused on bilateral ties and cultural engagements between Argentina and the Philippines, while Pianezza highlighted their current trade relations. The diplomats also had the opportunity to have a brief tour of the campus and UST Museum following the event.

Netherlands confers ‘Tulip’ citation on NGO for upholding human rights US inaugurates ₧14-M modern recycling facility in Pasig City T HE Kingdom of the Netherlands presented the “Embassy Tulip” award to a legalfocused nongovernment organization (NGO) for its outstanding work promoting human rights. The award was presented to Initiatives for Dialogue and Empowerment through Alternative Legal Services (IDEALS) on the occasion of International Human Rights Day at the residence of Ambassador Marielle Geraedts. The Embassy Tulip is an annual recognition of the Dutch government for outstanding and courageous human rights defenders. Through the award, the Netherlands supports them in continuing their work and sharing their story to inspire others. It is the local equivalent of the annual Human Rights Tulip award presented by the Ministry of Foreign Affairs in the Hague each year. “Human rights defenders are modern-day heroes: No matter where, they promote the universally recognized rights and fundamental freedoms, [while ensuring] that beautiful words on paper are translated into reality,” said Geraedts. “They do this by peaceful means, but nonetheless are often threatened, or seen as threats.”

a multi-stakeholder approach that works with victims of human-rights violations, vulnerable and marginalized communities, as well as the legal and justice system. They directly empower human rights victims to take the lead in justice-seeking. IDEALS, as described by the embassy, has exemplified innovation and dedication in bridging communities with institutions to enhance human rights in the region. They have worked in some of the most at-risk places in the Philippines, but they have shown resolve and passion, which is why their organization has grown, as well as their reach and advocacy.

Catalyst for real change AMBASSADOR Marielle Geraedts (fourth from right) bestows the award to members of IDEALS. EMBASSY OF THE NETHERLANDS

She told IDEALS that “programs such as yours bring human rights closer to the people. It makes rights more tangible, [while providing] opportunities to make each one human rights advocate [and defender]. We recognize that effective human-rights interventions are impossible without strategic alliances with partners, progres-

sive stakeholders and allies who do so in innovative ways.” According to the Dutch Embassy, IDEALS is committed to providing communities with access to transformative legal aid that can help the latter assert their rights. Seeing the need to widen spaces for human rights in community and legal spheres, the NGO developed

SUPPORT for human rights defenders is one of the human rights priorities of the Netherlands. Geraedts explained that “human rights are universal, but not self-evident. They require people to actively defend, protect and develop them.” She insisted that the role of human rights defenders is vital and as such, “[our country] supports human-rights defenders worldwide.” The award has allocated P1 million for a project for the further promotion of human rights locally.

HE United States government, through the US Agency for International Development (USAID) and eco-solutions company Green Antz Builders Inc. unveiled a P14-million ($248,000) modern recycling facility in Pasig City as part of its commitment to fighting ocean plastic pollution. “Finding solutions to the challenge of ocean plastic pollution requires innovation, creativity, [as well as] the strong commitment of government, private sector, and community partners,” Environment Office director Ryder Rogers of USAID said. “As your partner in prosperity, the US government stands with you…in building an inclusive economy and exploring innovative solutions to achieving cleaner oceans.” Located in Barangay Manggahan, the modern recycling facility—also called a “Community EcoHub”—allows on-site waste collection and composting of up to 1 ton of organic waste per day. It can also upcycle low-value plastic waste such as sachets and plastic bags into durable eco-bricks and pavers suitable for constructing homes and other structures. Through its “Clean Cities, Blue

Ocean” (CCBO) program, USAID was able to provide Green Antz with waste collection electronic vehicles and equipment. “We have built more than 20 Community EcoHubs with private partners over the years, but our goal for this [one] is to establish an effective waste-management program that can be adapted and replicated by other local governments,” said Rommel Benig, CEO and founder of Green Antz Builders Inc. In the long term, the Pasig City government will take over the operation of the recycling facility, reinforcing its sustainability and impact on the city’s solid waste management and economy. In his remarks, Mayor Victor Ma. Regis “Vico” Sotto said that the EcoHub supports his local government’s goal of promoting sustainable solutions to environmental challenges. Launched in 2019, USAID’s five-year CCBO program addresses the crisis of ocean plastics pollution in rapidly urbanizing countries. In the Philippines, the agency has awarded around P150 million ($2.7 million) to several organizations implementing programs that improve plastic waste collection, reduction, and recycling.

Yulo sparkles in a multitude of everything

OLONGAPO City’s Gift Leung appears to mesmerize the judges. NONIE REYES

Superal defends crown against formidable field

Sports BusinessMirror

B8 | T

hursday, December 21, 2023 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Josef Ramos

ULTIPLE gold medalists are sprouting like mushrooms in the simultaneous staging of the Batang Pinoy-Philippine National Games whose enormous field of 14,000 athletes in 26 sports and spread over 21 competition venues has received flak rather than appreciation entering the combined games’ penultimate day on Thursday. Karl Eldrew Yulo, world champion gymnast and Olympian Carlos Yulo’s younger brother, was a cut above the rest with his seven gold medals—going for eight—in artistic gymnastics. There were Maria Celina Angela Gonzales in gymnastics and national junior record holder Micaela Jasmine Mojdeh in swimming who have four gold medals, to name a few. There could be more in athletics and arnis—both bursting at the seams in terms of events and age categories—but multi-gold winners or extraordinary feats and accomplishments in these combined games—the organizing Philippine Sports Commission needed at least 41 billeting facilities, almost all public schools, to house the athletes and their coaches—would drown each other leaving only the medal tally board as evidence of their effort and hard work cramped in only five days of action. But who ever thought of combining the PSC’s flagship programs tasked to go deep into the grassroots could have ignored the very essence of sports development and especially the young and aspiring athlete who should have deserved more. All said and done, Karl Eldrew Yulo picked gold medals one after the other like they were apples—he won in vault, rings, floor exercise, high bar, parallel bar, pommel horse and individual all-around—and was bound to lift the Manila team further with an expected team event gold in Batang Pinoy’s boys’ 14 to 17 years old category. “These golds inspire me to level up for my international competitions next year,” said Yulo, who also dominated the Palarong Pambansa with relative ease last July in Marikina. “I’m so happy right now, but my work isn’t done yet.” San Juan City’s Gonzales also captured four Batang Pinoy golds and added a silver medal in women’s artistic gymnastics High Performance 1—uneven bars (6.500), balance beam (8.150), floor exercise (8.750) and individual all-around (34.700). Mojdeh scooped her fourth gold medal in Batang Pinoy’s girls’ 400 meters individual medley (5:12.63) at the Teofilo Yldefonso Swimming Pool at the Rizal Memorial Sports Complex.

What a comeback for the ages N EW ORLEANS—Ja Morant ended his regrettable absence from professional basketball with a comeback for the ages. Morant capped a stirring, 34-point season debut with a spinning dribble in the lane to set up a game-winning floater as time expired in the Memphis Grizzlies’ 115-113 victory over the New Orleans Pelicans on Tuesday night. The Grizzlies, who entered on a five-game skid and were 6-19 during Morant’s 25-game suspension for his social media antics with guns, trailed by 24 in the first half but took a 113111 lead on Morant’s inside basket with 1:22 to go. The Pelicans tied it and the teams exchanged missed three-pointers before Morant finished it off at the horn, leaving much of the crowd stunned as he and his teammates celebrated under the basket. “I’ve been putting work in, man,” Morant said. “I ain’t play a game in eight months. Had a lot of time to learn myself. A lot of hard days where I went through it. But you know, basketball is my life—what I love, therapeutic for me. And I’m just excited to be back.” Grizzlies coach Taylor Jenkins designed the winning play for Morant and called the two-time All-Star’s execution of it, “a special play by a special player.” Morant’s point total was the most in National Basketball Association (NBA) history by a player coming back from an absence of at least 25 games. “He was able to do whatever he wanted,” Pelicans forward Zion Williamson said. “Ja was able to get downhill a lot. Him doing that opened up the game for the rest of them.” Jaren Jackson Jr. scored 24 points and Desmond Bane had 21 for Memphis, which also snapped the Pelicans’ four-game winning streak. Brandon Ingram scored 34 points for New Orleans, but Williamson’s

Curious, quirky, uncanny THE San Beda Red Lions-Mapua Cardinals basketball finals of the National Collegiate Athletic Association (NCAA) officially put a close to the collegiate basketball season last Sunday. The University Athletic Association of the Philippines (UAAP) ended it all on December 3, while in the southern part of the archipelago, the Cebu Schools Athletic Foundation Inc., or CESAFI, also put a period on their high school basketball tournament on December 15.

time on the court was limited to 24 minutes by foul trouble and he finished with just 13 points. “BI was great. He made plays for himself, for his teammates, made big basket after big basket,” Pelicans coach Willie Green said. “Unfortunately, we just didn’t do enough.” Morant was booed heartily by partisan Pelicans fans during pregame introductions and also when he handled the ball on the opening possession. Those boos died down as the game wore on, and a section of visiting fans near the Memphis bench made themselves heard as Morant explosively scored eight points— twice hitting difficult driving shots as he was fouled—in a span of 1:20 early in the third quarter. “My one expectation was for him to have fun,” Jenkins said. “That’s how you want Ja to play, is play fast and free with the dynamic abilities.” Spectators on hand for Morant’s comeback included LSU Heisman Trophy-winning quarterback Jayden Daniels, who sat next to Tigers star receiver Malik Nabers in the front row near New Orleans’ bench. Although Morant looked winded at times and didn’t hit many jumpers, his ability to drive into the paint— and finish—looked undiminished. His repertoire included crossover dribbles to set up high floaters in the lane, finger rolls, and double-pump bank shots while hanging in the air. Memphis got back into the game with an 11-0 run that began late in

Which means school ball enthusiasts are in full SepAnx mode, knowing full well they will need to wait nine long months before the next wave of college basketball competitions begin anew. But does collegiate basketball ever really stop? The answer of course, is no. After a brief hiatus of let’s say, over a month, the action starts anew as the off-season and pre-season leagues begin their trips around the sun. Team practices for 2024 will begin in earnest as early as January. Yes, Virginia. Pinoy basketball, including the scholastic kind, persists and perseveres, no matter what season of the year it is. Now that we’ve wrapped up Season 86 of UAAP basketball and Season 99 of the NCAA, let’s look back at some quirky coincidences that made this year’s tournaments both uncanny and fascinating. Like did you notice that the No. 1 seeds in men’s basketball and women’s basketball did not go on to win the championship, even if they were the hands down favorites to go all the way? The University of the Philippines Fighting Maroons were the first to qualify for a Final Four slot this season and for the first time ever ended the eliminations as top seed. The De La Salle Green Archers were a hot and streaking second seed, but when UP and DLSU clashed in

the first half and continued into the third quarter to make it 60-47. Soon after, Morant made a floater off the glass while being fouled by Herb Jones, and followed that up by converting a spinning dribble in the lane into a layup as he was fouled, cutting it to 69-62. The game was competitive from there on, with Morant continuing to find ways to prevent New Orleans from relaxing. Morant got his last rest early in the fourth quarter, and was told when he checked back in with about eight minutes left that he’d be on the court the rest of the game. “I’ve been working hard, but there’s nothing like NBA basketball,” Morant said. “I just had to lock in and push through—pretty much my life, you know, just continuing to push, no matter what.” AP

THE Grizzlies’ Ja Morant goes to the basket against the Pelicans’ CJ McCollum. AP

Rebound battle

Phoenix Super LPG’s Sean Manganti and NorthPort’s Arvin Tolentino battle for the rebound in Wednesday night’s Philippine Basketball Association Commissioners Cup game at the Smart Araneta Coliseum which the Fuel Masters won, 113-104. Courtesy RUDY ESPERAS the first game of their series, the Maroons demolished the Archers with a rat-a-tat game that they won by a record-setting 30 point-margin. The Green Archers inflicted the same kind of pain on the Maroons in Game 2, winning it by 22 points. And come Game 3, the Archers saved their straightest, swiftest arrows for last, denying UP the fulfillment of their Redemption Tour. No. 2 triumphed over No. 1. In the NCAA, the Red Lions were unlikely early on to even land a finals seat. And even when they did, they met adversity right away. The Mapua Cardinals took Game 1, much like UP did in the UAAP, but the Lions plowed on, winning Game 2 with Jacob Cortez willing the decider that resulted in Game 3. Much like La Salle, the unexpected champions went all the way in the do-or-die last game. In the process they avenged their painful defeat in 1991 to Mapua, then added their 23rd men’s basketball title to their room-full of trophies. No. 2 over No. 1 again. Even in UAAP women’s basketball, the National University Lady Bulldogs were expected to extend their dynasty to eight-straight championships. The No. 2 seed University of Sto. Tomas Tigresses who won Game 1 were expected to bow to the erstwhile champs who had the edge, though by tiny margins, in the deciding third game. But in the final minutes, the Tigresses found the opening

HE second Simone Asia Pacific Cup unfolds Thursday in Indonesia with defending champion Princess Superal expecting a heightened level of competition despite the absence of major champions with world No. 9 Atthaya Thitikul of Thailand and Japan’s Nasa Hataoka adding a touch of star power to the 56-player roster. Superal scripted a narrative of triumph, outshining luminaries like New Zealand’s Lydia Ko, Korean Hyo Joo Kim and Hinako Shibuno of Japan, to claim her maiden pro championship worth $100,000 in last year’s inaugurals of the event at the Pondok Indah Golf Course in Jakarta, winning by three over former US Women’s Open champion So Yeon Ryu of Korea. But the 26-year-old Superal anticipates a more challenging competition with Thailand and Korea fielding an impressive lineup of players eager to dominate both the individual and team championships. The 54-hole tournament, put up by the Asia Golf Leaders Forum to advance the development of women’s golf in the Asia Pacific region, offers not only a substantial total prize of $750,000 but also carries the allure of world ranking points. The individual competition offers a total prize purse of $550,000 while the team event stakes a total pot of $200,000. Superal, embracing the role of a key contender, has diligently prepared for the demanding battles head, flanked by a troika of equallytalented compatriots— fellow ICTSIbacked Bianca Pagdanganan and Dottie Ardina, and Daniella Uy. Pagdanganan, riding high on the momentum of reclaiming her LPGA Tour card, forms a dynamic partnership with Superal in team play, amplifying the Philippines’ prospects for success after Superal and Pauline del Rosario finished second to Ryu and Bo Mee Lee last year. Like Superal, the big-hitting Pagdanganan is also making a homecoming of sort to Pondok Indah, where she won the individual bronze and helped lift the Philippines to the gold medal finish in the Asian Games in 2018. Ardina and Uy will make up the other Philippine squad in the 16-nation event that extends beyond individual performances with team dynamics also shaping the competitive landscape. Meanwhile, Smart is facilitating live coverage of the event through its Smart Livestream app, available for free download on the Apple App Store or Google Play. No charges or subscriptions are required to enjoy the tournament, making it accessible to a wide audience of Filipino golf fans. The app will also offer full stream and highlights via video-on-demand for those unable to catch the event live. “Princess’s victory last year was a great moment for Philippine golf. We think there’s a good chance of another Pinay lifting the trophy this year, so we are making our coverage of this event accessible to a wide audience of Filipino golf fans,” said Jude Turcuato, the First VP/Head of Sports for PLDT and Smart.

and pounced on it. Same result. No. 2 won over No. 1. The basketball gods wouldn’t have it any other way, it seems. Which brings us to another curious observation. Curses. According to UP fans, the Fighting Maroons are seemingly cursed at the Araneta Coliseum. They have lost all finals games played in Cubao in Seasons 81, 85 and 86. Their one precious UAAP title won in Season 84 was played at the SM Mall of Asia Arena. Could this be true? There is also The Curse of the MVP (Most Valuable Player). According to “legend”, the teams of players who win the MVP Award for the season don’t get to win the championship. Cases in point, Ateneo’s Ange Kouame (Season 84 MVP) and UP’s Malick Diouf (Season 85 MVP). But ahh, there’s the rub. The MVP Curse proved false this year as Season 86 MVP Kevin Quiambao succeeded at towing his De La Salle team all the way to the UAAP throne. Just goes to show that good performance will trump curses any time even if the so-called jinxes seem to be a trend in the unseen dimension. Then there’s the matter of droughts in collegiate basketball—32 years for the Mapua Cardinals, 38 years for the University of the East Red Warriors and 46 years for the Adamson Falcons. Will these droughts be ending at last in the coming season? That deserves fuller treatment in another column.