BusinessMirror February 01, 2022 by BusinessMirror

HMOs, insurers paid ₧12-B Covid claims ‘Close borders, cut Omicron exposure risk’ By Bernadette D. Nicolas @BNicolasBM

I C

By Cai U. Ordinario

NSURERS, health maintenance @caiordinario organizations (HMO) and mutual benefit associations (MBA) LOSING the country’s borders paid a total of P12.12 billion is one of the most immediate for Covid-19 related since the courses of actionclaims the governstart of the pandemic until end of ment must take to prevent the latthird quarter in 2021. est Covid-19 variant, Omicron, from Insurance Commission reachingThe Philippine shores, accord(IC) reported that P8.23 billion ing to local economists. or 68 percent of the amount T he new var iant is a threat,was the e s p e paid c i a l l in y w it hfirst t hethree hol idquarters ay s of 2021 while P3.89 billion was coming up and more foreigners in 2020tobased on the results beingpaid a llowed travel to the of the surveys conducted by the Philippines, De La Sa lle UniverSM Mall of Asia’s Chinese New Year centerpiece is inspired by classic Chinese gardens with blooms regulator to assess the financial sit y economist Mar ia Ella Oplas impact of the pandemic to the of peonies, tall bamboos and three moon gates decorated with red lanterns, symbolizing birth told BusinessMirror. industries. and renewal and wisteria flowers for long life. The main showpiece is the larger-than-life tiger The holidays usually bring in claimsWorkers paid during the first measuring 16ft wide and 12ft tall, fully covered in flower petals, resting in a floral bed with gold Overseas“The Filipino (OFWs) three quarters of 2021 [are] already coins and ingots welcoming fortune and prosperity this Chinese new year 2022. CONTRIBUTED PHOTO who are eager to spend Christmas

more than double of the total claims paid for the year 2020,” Insurance Denniswhile B. Funa said withCommissioner their loved ones, forin a statement. eigners living in temperate regions termstoofrelax the kinds of claims usuallyInwant in tropical paid since the start of the pandemic, countries like the Philippines. This death benefits stillisconstituted year’s influx of OFWs expected tothe bulk of the total at P4.76 be heavier since many of thembillion. were tohome deathfor benefits are Inunable Next to come the holidays Patient Benefits at P3.87 billion in December 2020. and Out-Patient Benefits at P2.42 “My recommendation is to protect billion. the borders. Do not allow people with “Inofboth and the first a history travel2020 to countries with three quarters of 2021, claims positive cases to enter,” Oplas said. Death have the[We high“Wefor should be Benefits more restrictive. est amount of Covid-19-related have to be] more protective in terms claims paid by insurers, HMOs, of our measures.” and MBAs, Oplas said thatfollowed while thisby willIn-Pabe tient Benefits and Out-Patient a setback to some industries, this Alsoconsidering worth mentionis a Benefits. fair measure that ing is the fact that unlike in this could help prevent placing thethe survey for the first semester country in another strict lockdown, of

which, she said, the economy can no longer afford. “It is better that we do protective preventive measures than get exposed again. We have a lot to lose,” Oplas said. “We should do it now so that we can open just before Christmas. If it gets contained, we can open it again.” Ateneo Center for Economic Research and 2020 Development (ACERD) “In both and the first Associate Director Ser Percival three quarters of 2021, claims K. Peña-Reyes said closing the for Death Benefits havebe theeffeccountry’s borders would tive but should still adhere to the highest amount of Covid-19standards set by the World Health related claims paid by insurers, Organization (WHO). HMOs, and MBAs.”—Insurance What is needed, Peña-Reyes told this newspaper, isDennis for travel restricCommissioner B. Funa tions to be put in place swiftly and

2021, there are no claims paid for Travel and Business Interruption benefits duringtothe quarter for government bethird proactive in of 2021,” Funa added. imposing them. Per industry, HMOs led the the Previous instances when pack with P5.60 billion in Covid-19 country had the opportunity to imclaims payout since the pose travel restrictions didpandemic not prestarted. It is closely followed by vent the spread of Covid-19. That was the life insurers with P5.46 billion, mainly because the decision was not MBAs (P732 million), and non-life made immediately, he said. insurers (P340.2 million). “Kung papatay patay [If we’re January to September slow]From and we get caught flat-foot2021, IC pointed out that too the life ed, [that’s risky] We were reinsurance industry cornered the active instead of proactive before. biggest the that,” payment of We shouldshare learninfrom PeñaCovid-19 related claims at P3.99 Reyes said. “It’s a delicate balancing billion whiletothe HMO industry act. We need push testing and recorded a total of P3.68 billion. tracing to be properly informed Meanwhile, and non-life of our decisions.MBAs Blanket/shotgun insurers spent P377.1 and approaches could have million dire conseP180 million, respectively. quences on the economy.” See “HMOs,” A2 See “Omicron,” A2

‘PREPANDEMIC LEVELS NATL GOVT BORROWINGS FOR MOS A DIP TO P2.75T NOT10 QUITE RECOVERY’ w w

Tuesday, February29, 1, 2021 2022 Vol. 17 No.52 No. 116 Monday, November

n n

30 key infra projects among Omicron risk ICC’s ₧1.3-T ’21spurs approvals revival of quarantine T rules in PHL

By Bernadette D. Nicolas

P25.00 P25.00 nationwide nationwide || 32 sections sections 26 20 pages pages ||

@BNicolasBM

HE national government’s gross borrowings as of end-October shrank by almost 6 percent year-on-year to P2.75 trillion.

HE interagency Investment Coordination Committee (ICC) has approved a total of P1.31 trillion worth of projects in 2021, according to the National Economic and Development Authority (Neda). Neda OIC Undersecretary for Investment Programming Roderick M. Planta said this includes 30 projects, majority of which are ongoing projects. Planta told the BusinessMirror the 25 ongoing projects are worth a total P1.02 trillion while the five new projects are worth P291 billion. “The ICC approved 30 projects in 2021. [Some] 25 of those are ongoing project and five are new projects,” Planta said in an AskNeda Briefing on Monday.

The five new projects, Planta said, include the P176-billion Laguna Lakeshore Road Network (LLRN) Project Phase 1 undertaken by the Department of Public Works and By Samuel P. Medenilla Highways (DPWH) and financed by @sam_medenilla the Asian Development Bank (ADB). The Philippine NTER NATIONAInformation L concerns Agency (PIA) last year said over the possible spread of the the LLRN has a main alignment of more infectious Omicron Co37.6 kilometer and includes eight vid-19 variant prompted the govinterchanges in Sucat,mandatory Alabang, ernment to reimpose Tunasan, San Pedro/Biñan, Santa facility-based quarantine for all Rosa, Cabuyao, and Calamba. arriving passengers in the country. This two-lane primary road conActing Presidential spokespersists of an 11.8-km viaduct from son Karlo B. Nograles announced Lower Bicutan to Muntinlupa, and on Sunday that the Inter-Agency 25.8-km combination of onshore Task Force for the Management viaduct and embankment from of Emerging Infectious Diseases Muntinlupa to Calamba. (IATF) suspended the implemen-

Latest data from the Bureau of the Treasury showed that the government’s gross borrowings during the 10-month period fell by 5.99 percent from P2.92 trillion a year ago. With only two months left for this year, the latest figure is already equivalent to 89.6 percent of its P3.07-trillion borrowing program. on A2 Broken down, gross domestic bortation ofContinued its Resolution No. 150rowings from January to October A (s.2021), effectively imposing Asettled MALL in Binondo, Manila, home to the oldest at P2.23 trillion, down by Chinatown in the stricter protocols for all inbound world, is festooned with paper lanterns to celebrate the Chinese 5.08 percent from P2.35 trillion travelers. New Year. The government’s pandemic task force has announced in 2020. To note, IATF Resolution 150the The easingbulk of the Covid alertamount in Metro Manila A had allowed fully vaccinated of the wasand other areas to PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. REYES Alert Level from 2 starting February non-visa travelers from Green List sourced Fixed Rate1. NONIE Treasury The country will celebrate the 158th birth anniversary of Filipino revolutionary Bonds (P1.19 trillion), followed by areas to enter the country withGat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO By Cai U. Ordinariohero@caiordinario short-term borrowings from Bangout the need for facility-based ko Sentral ng Pilipinas or BSP (P540 quarantine as long as they secure billion), Retail Treasury Bonds/Prenegative Reverse Transcriptionmyo Bonds (P463.3 billion), Retail Polymerase Chain Reaction (RTOnshore Dollar Bonds (P80.84 bilPCR) test within 72 hours prior lion). In the same period, there was to their departure. E -RU N following Ph i l ippine gaming of taxes contribuBy Jasper Emmanuel Y. Arcalas datingTAT its registry the them. This allowsand everyone to see programs as President Duterte also a net redemption of Treasury “Except for countries classified Amusement and Gaming tions settled P18.35 billion @jearcalas enactment of the Coconut Farmwho are listedat in the registry and if is expected to sign the industry Bills amounting to P43.94 billion. as ‘Red,’ the testing and quarantine Corporation’s (Pagcor) last year, downseebyhis9.4 percent ers and Industry Trust Fund net law. farmer doesn’t name then he development plan in early 2022. protocols for all inbound internaNet debt redemption means income dived nearly 87 percent from P20.26 billion in 2020. ORE than 3 million Rosales explained that about shall coordinate with the PCA imRosales said the PCA will not tional travelers in all ports of entry there were more debts repaid comto P203.6coconut million farmers in 2021 and as On the other hand, its expenscoconut farmers and 500,000 mediately,” he explained at a recent stop updating its list of coconut pared to the amount borrowed durshall comply with the testing and lockdowns continued restrict es which included its contribuworkers are now regisworkers were added totothe PCA’s dialogue with coconut farmers. farmers and enjoined them to reging the period. quarantine protocols for ‘Yellow’ casino tions to the government tered with the government’s reg2018 listoperations. that had about 2.5 million “On thenational other hand, if people ister in order to reap the benefits Meanwhile, gross foreign borlist countries,” Nograles said, citing Based on its latest statement reached P17.86 billion, falling istry, which serves as the basis coconut farmers and farm workers. would see names on the listby and of the decades-long idled coconut rowings in the same period also the provision of IATF Resolution In an AskNEDA briefing on However, this only of The comprehensive income, 4.48 fromare P18.7 for the number of means people the to be PCA’s next step is toPagcontheypercent think they notbillion coconut levy fund. “We will not stop at 3.1 contracted by 9.7 percent to P518.7 No. 151-A. Monday, Socioeconomic Planning country is still twoutilization years behind cor saw its net income plunging in the previous covered by the of the duct an exclusion-inclusion profarmers or theiryear. details are incormillion. We hope that more indibillion from last year’s P574.4 billion. He noted Hong Kong, which has Secretary Karl Kendrick T. global Chua its growth potential andlevy thatfund. more by 86.9by percent from P1.55 bilMeanwhile, its corporate P75-billion coconut cedure making the updated rect, they can report it to theinPCA viduals will register in our coconut This was raised through confirmed a case of the Omicron said the(P146.17 country billion), would beprogram able to needs Philippine to be doneCoconut to sustain ecolion in 2020. come tax reachedaction,” P286.2 million. Authority farmers’ registry public, providfor immediate he added. farmers registry,” he said. bonds variant, will also fall under the YelSee “Pagcor,” A2 recover to its prepandemic level in nomic growth. Pagcor’s total income net of (PCA) Deputy Administrator Roel ing everyone the opportunity to The PCA official noted that The updating of the coconut loans (P139.98 billion), euro-delow list countries. the first three months of this year. See “Prepandemic,” A2 M. Rosales said about 3.11 million check the veracity of the list, Rothe completion of the initial list farmers registry is mandated by nominated bonds (P121.97 billion), The suspension of the rules for coconut farmers and farm worksales added. of coconut farmers registry would Republic Act (RA) 11524 or the a project loan (P86.41 billion), and “Green List” countries will be in have been registered with the “The list will be posted in public just in time for the expected Industry Trust Fund Act. yen-denominated samurai bonds from November 28, 2021 to n USers 51.2730 n JAPAN 0.4448 n UK 68.7161 n HK 6.5804 n CHINA 8.0504 nbe SINGAPORE 37.8482 n AUSTRALIA Coconut 35.8142 See n EU 57.1540 n SAUDI ARABIAeffect 13.6663 Source: BSP (January 31, 2022) government since it started upspaces where people can easily see rollout of coconut levy-funded “3-M farmers,” A2 (P24.19 billion). December 15, 2021.

PAGCOR NET INCOME PLUNGES 86.9% AS CASINOS A HITCOCO LEVY FUND OVER 3-M FARMERS LISTED FORTAKE P75-B

VEN if the country gets back to its prepandemic form this quarter, the National Economic and Development Authority (Neda) believes more needs to be done to sustain the country’s economic growth.

PESO EXCHANGE RATES See “Borrowings,” A2

PESO EXCHANGE RATES n US 50.4600

Continued on A2

n JAPAN 0.4374 n UK 67.2329 n HK 6.4722 n CHINA 7.9013 n SINGAPORE 36.8968 n AUSTRALIA 36.2807 n EU 56.5758 n SAUDI ARABIA 13.4531

Source: BSP (November 26, 2021)

News

BusinessMirror

A2 Tuesday, February 1, 2022

Bank lending gains traction in Dec, expanding at 4.6%

By Bianca Cuaresma

@BcuaresmaBM

ENDING activity by local banks continued to gain traction in December last year, as the economy gradually recovers from the disruptions caused by the global pandemic. The Bangko Sentral ng Pilipinas (BSP) on Monday reported that bank lending continued to expand faster in December 2021 to 4.6 percent, up from the 4 percent in November. The reported growth in loans extended by banks is the fifth consecutive month of growth for bank credit in the country. Bank lending first collapsed into

contraction territory in December 2020 by 0.7 percent as the restrictions forced by the pandemic affected the local banking industry. The contraction persisted amid the sustained all-time low monetary policy rate in place. In comparison,bank lending grew 13.6 percent before the onslaught of the global health crisis in March 2020.

“Credit activity continued to improve due to a more favorable economic outlook from businesses and households amid the sustained rollout of Covid-19 vaccines and the easing of community restrictions during the month,” the BSP said. Broken down, the BSP said outstanding loans for production activities went up by 5.8 percent in December from 5.4 percent in November given the continued rise in lending for real estate activities (9.1 percent); information and communication (27.3 percent); manufacturing (9.4 percent); financial and insurance activities (9.9 percent); and transportation and storage (9.1 percent). Outstanding loans to other industries, mainly activities of households as employers; undifferenti-

ated goods-and-services-producing activities of private households for own use (-21.9 percent), fell at a slower pace in December. Meanwhile, consumer loans to residents declined at a softer rate of 5.7 percent in December from a 7.1-percent decrease in the previous month amid the year-on-year rise in credit card loans. Data from the BSP also showed that domestic liquidity, broadly measured as “M3,” grew by 7.7 percent year-on-year to about P15.3 trillion in December 2021. This is a slower growth compared to the 8.3-percent expansion in November. The BSP vowed to continue to monitor credit dynamics to ensure that its monetary policy settings remain appropriate amid signs of economic recovery.

30 key infra projects among ICC’s ₧1.3-T ’21 approvals Continued from A1

It will also feature an additional one lane in each direction from Sucat, Muntinlupa to Sta. Rosa, Laguna; a cycling track and promenade from Tunasan, Muntinlupa to San Pedro, Laguna. Meanwhile, the list also includes two China-funded projects, the P81-billion Davao City Expressway Project and the P7-

billion Panglao-Tagbilaran City Offshore Bridge Connector (PTCOBC) Project. Both projects are also under DPWH. The DPWH said the Davao Expressway project has a length of approximately 29.21 km and is situated on the southeast of Mindanao (Davao City). It is a two-lane per direction expressway divided into three Sections.

The three sections are the 8.479-km Davao City Coastal Road to Ma-a Interchange; 8.51km Panacan Interchange to Ma-a Interchange; and 12.221-km Ma-a Interchange to Dumoy Interchange which has a proposed 0.26-km Expressway Tunnel. The Neda said the PanglaoTagbilaran City Offshore Bridge Connector Project includes the

construction of 2.6-km concrete bridge with four lanes, intended to facilitate the movement of goods, services, and people by providing a direct link between the New Bohol International Airport and the Tagbilaran City Fastcraft Port. The proposed bridge will also help decongest traffic in the Central Business District by providing a new bypass access and diverting vehicular movements to and from Panglao Island and Tagbilaran City. The other two projects, including the P15-billion Philippines Seismic Risk Reduction and Resilience Project of the DPWH, are funded by the World Bank. The World Bank said the project aims to enhance the safety and seismic resilience of selected public buildings in Metro Manila and the capacity of the DPWH to prepare for and respond to emergencies. The other project is the P12-billion Philippine Multisectoral Nutrition Project of the Department of Social Welfare and Development (DSWD) as well as the Department of Health (DOH). The World Bank said the project aims to increase the utilization of a package of nutrition-specific and nutrition-sensitive interventions and improve key behaviors and practices known to reduce stunting in targeted local government units. Cai U. Ordinario

HMOs... Continued from A1

Moreover, the IC said the survey results showed the correlation between Covid-19-related claims paid from January to September 2021 and the reported number of new Covid-19 cases in the Philippines in the same period. When the new number of new Covid-19 cases passed the 500,000mark for the month of September 2021, the amount of Covid-19-related claims paid by insurers, HMOs, and MBAs increased to more than P1.4 billion. “The figures we obtained reflect that the claims paid increased drastically from February to April 2021, dipped slightly during the months of May, June, and July, and then spiked in August to September of the same year,” Funa said.

www.businessmirror.com.ph

Prepandemic...

Continued from A1

In summary, the 10-point policy on economic recovery and we will have to push that and ensure those are fully implemented,” Chua said. “We have to continue this effort and avoid any reversal to our economic recovery.” Chua said this can be done by including four key areas in the next Philippine Development Plan (PDP). These are smart infrastructure; regional equity; building on the innovation act; and climate change. Neda, Chua said, is already preparing the “analytical foundations” for the inclusion of these areas in the next PDP. This will be forwarded to the next administration.

Innovation is key

OF these areas, Chua said, innovation would be the key to the country’s movement to the upper middle income and eventually to high-income level in a single generation. “The third one is to build on our Innovation Act to ensure that the foundation of our recovery and sustained growth is founded on innovation or new ieas, which is really what will bring us to upper middle income country level status and sustain our growth toward high income country in one generation,” Chua explained. “If we don’t innovate and just do the same things again and again, we will be left behind and we will not graduate to higher levels of development,” he stressed.

Liberalization bills

PART of the efforts to sustain the country’s economic growth are the economic liberalization bills. Chua said these are the amendments to the Retail Trade Liberalization Act, the amendments to the Foreign Investment Act, and the amendments to the Public Service Act. Chua said these reforms are crucial but have not been done in at least 21 years for the retail trade liberalization; 26 years since the government allowed more foreign investment into the country; and 80 years since the Commonwealth Act 146 was enacted which limited the definition of public services. “The passage of the three economic liberalization bills will be crucial to the country’s recovery as easing foreign ownership restrictions will attract more investment, generate employment, introduce innovation, lower prices and improve the quality of goods and services,” Chua said. The Neda Chief said a study by the World Bank said the impact of the amendments to the Public Service Act alone would lead to a 3-percent increase in the output of the transport and 2-percent growth of the telecommunication sectors.

Pagcor...

This will allow a 2.8-percent increase in the employment that can be created in the transport sector and another 1.8-percent growth in employment in the telecommunication sector. The amendments will also lead to spillover effects on the manufacturing sector with the production of metal products increasing by 7 percent and employment growing 6.2 percent. Food and beverages, which accounts for a significant share of the country’s manufacturing industry, will see a 3 percent increase in output and a 2.6 percent growth in employment. “The situation nowadays warrants really the review of these economic laws so that we can open more of the economy to innovation, technology, new jobs, lower prices, and better quality of goods and services,” Chua said.

Pandemic response

NEDA Undersecretary for Planning and Policy Rosemarie G. Edillon said the country has been improving in terms of its pandemic response based on the National Action Plan (NAP) Phase 4 Scorecard. The NAP4 Scorecard was created by the Recovery Cluster of the National Task Force for Covid-19 which is under the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATFEID). This is consistent with the goals of the NAP Action Plan. Under the scorecard, the government is monitoring Infection Management; Vaccine Rollout; and Socioeconomic Recovery. The overall score of the country has improved to 6.99 in November 2021. While socioeconomic data is not yet available for December 2021, in terms of infection management, the country’s score improved to 2.74 in December 2021 from 2.53 in November 2021. In terms of vaccine rollout, there was also an improvement. Edillon said the score improved to 2.2 in December 2021 from 2.02 in November 2021. “There has been considerable progress in the implementation of NAP IV. However, in December, vaccination rollout slowed down largely due to Typhoon Odette,” Edillon said in a presentation. Neda earlier said the NAP scorecard is a better gauge of the country’s performance as it includes factors like infection management, vaccine rollout, and socioeconomic recovery that better tells the situation on the ground. This is consistent with the aim of the NAP Phase IV Action Plan which is to balance the economic and health needs of Filipinos through what it termed as a “safe reopening of the economy.”

Continued from A1

Pagcor Chairman Andrea Domingo told the BusinessMirror that the significant drop in Pagcor’s net income last year was due to Covid-19 pandemic and the absence of non-gaming revenues. Domingo said the closure of some Philippine Offshore Gaming Operators (Pogos) partly contributed to the decline in Pagcor’s net income. “The Pogos missed their target by almost 20 percent for lack of manpower, a good number closed down and [were impacted by] the slowing down of

the world economy,” she said in a message. Domingo said in October last year that more than half or 32 out of the original 60 Pogos in the country have already left and most have transferred to other jurisdictions. Domingo also earlier said 2020 was a better year for Pagcor as they were able to accumulate savings for the first three months of that year since they were still in full operation. With the decline in revenues because of the pandemic, she has since said they would have fewer funds to contribute to government programs, including the Universal Health Care. Bernadette D. Nicolas

www.businessmirror.com.ph

The Nation BusinessMirror

₧500B worth of infra projects may be exempt from poll ban By Cai U. Ordinario @caiordinario

VER half a trillion pesos worth of proposed or ongoing infrastructure projects could be exempted from the election ban that will take effect in March this year in preparation for the May 2022 national and local elections. In a briefing on Monday, Neda OIC Undersecretary for Investment Prog ramming Roder ick M. Planta said the Department of Public Works and Highways (DPWH) has filed for exemption of 18 projects. Based on data from the Neda, the DPWH and the Philippine Information Agency (PIA), the collective peso value of a number of these projects amount to at least P506.33 billion. This does not include the $583.1 million worth of Asian Development Bank (ADB) funded projects. “The DPWH has shared to us the list of requested projects, its 18. NIA [National Irrigation Administration] also, as far as we know, submitted the list in December. As part of the operational protocols of the agencies, we expect them to do the same, submit projects for exemption from the election ban,” Planta said in a news briefing. A list obtained by the BusinessMirror showed these 18 projects included eight projects financed by the Japanese government; four financed by the Korean government; three funded by ADB; two by the Chinese government; and one by the World Bank and Asian Infrastructure Investment Bank (AIIB). Planta said of the 18 projects, two projects would only ask for exemption for consultancy services, while the rest would request for exemption for the civil works or actual project construction. The two projects that requested for exemption for consultancy services are for the Panay-Guimaras-Negros Link Bridge and for the Davao River Bridge, the Bucana bridge. The big-ticket items on this list

include the Cebu-Mactan Bridge (4th Bridge) and Coastal Road Construction Project, which has a total project cost of P76.41 billion based on Neda estimates. The list also includes the P39.22billion Ambal - Simuay River and Rio Grande de Mindanao River Flood Control Projects and the P27.38billion Pasig-Marikina River and Manggahan Floodway and Bridges Construction Project. Last week, the Commission on Elections (Comelec) said even the government’s response to the Covid-19 pandemic will be covered by the poll body’s prohibition for public works in relation to the 2022 polls. Comelec Commissioner Rowena V. Guanzon issued the reminder amid the looming deadline for the filing of exemptions from the said prohibition. Under Comelec rules, public officials or employees, including barangay officials and those of government-owned or -controlled corporations (GOCC) and their subsidiaries, cannot release, disburse or expend public funds for any and all kinds of public works during the period of 45 days prior to a regular election and 30 days before a special election. However, the restriction will not cover maintenance of existing and/or completed public works projects, public works projects undertaken by contract through public bidding or by negotiated contract awarded, and payment of the usual cost of preparation of public works project and all incidental expenses for wages of watchmen and other laborers employed for such work. Also not covered by the ban are emergency work necessitated by the occurrence of a public calamity limited to the restoration of the damaged facility, ongoing public works projects commenced before the campaign period under foreign agreements or by the administration. In the case of the 2022 elections, the ban for public works will take effect from March 25, 2022 to May 8, 2022.

PNP reshuffles 38 key police municipal, provincial chiefs ahead of May elections By Rene Acosta @reneacostaBM

ATIONAL Police chief General Dionardo Carlos said on Monday that at least 38 police commanders from the provincial down to the municipal levels have been reshuffled in the Philippine National Police’s (PNP) ongoing preparations for the local and national elections. While Carlos did not elaborate on the reasons behind the movement of police officials in the local level, this was seen as part of the PNP’s effort to ensure that the organization and its members would remain apolitical in the upcoming elections.

“Thirty-eight PDs [provincial directors], CDs [city directors] and COPS [chiefs of police] of NCRPO [National Capital Region Police Office] were designated effective 08 January 22 by virtue of Rotation Policy,” the PNP chief told Camp Crame-based reporters. The rotated officials were formerly the commanders in Ilocos Norte; Batanes; Isabela; Bataan; Angeles City; Olongapo City; Nueva Ecija; Bulacan; Oriental Mindoro; Puerto Princesa City; Albay; Catanduanes; Masbate; Naga City; Aklan; Antique; Guimaras; Iloilo; Negros Occidental; Capiz; Siquijor; Cebu City; Northern Leyte; Northern Samar; Samar; Zamboanga City;

Zamboanga del Sur; Misamis Occidental; Davao del Sur; North Cotabato; General Santos City; Agusan del Norte; Surigao del Norte; Basilan; Abra; Las Piñas City; Muntinlupa City; and Taguig City. Meanwhile, Carlos commended the members of the organization during the 31st founding anniversary of the PNP for “staying true and living up to the standards of professionalism, accountability, integrity, and commitment in the realm of law enforcement and public service.” “On our 31st year of shining service as the country’s national police force, we introduced a new level of professionalism and competency. We continuously delivered effective

police operations and investigation amidst the pandemic,” he said. “This outlook is made more tangible as we increased police presence by maximizing the deployment of personnel for preventive patrol and PCR [police-community relations] operations in communities where their services are much needed. Through such actions, we have strengthened our campaign against illegal drugs, crime, terrorism, and corruption while also fighting the unseen enemy in this health crisis,” he added. Former PNP chief and now Sen. Ronaldo dela Rosa was the guest of honor during the celebration on Monday.

House committee upholds filing of estafa raps vs Pharmally execs

HE House Committee on Good Government and Public Accountability on Thursday declared there was no overpricing in the purchase of materials, supplies, and equipment for Covid-19 response by the Procurement Service of the Department of Budget and Management (PS-DBM) and recommended the filing of syndicated estafa against the officials of Pharmally Pharmaceutical Corp. During a news briefing, panel chairman Michael Aglipay of DIWA Party-list said the committee recommended to the Department of Justice (DOJ) the filing of appropriate charges for syndicated estafa against Pharmally chairman Huang Tzu, treasurer Mohit Dargani, president Twinkle Dargani, director Lincoln Ong, Justine Garado and Krizle Grace Mago. “The act of Pharmally officials and employees in soliciting supply contracts from the government despite full knowledge that it was grossly unqualified to do so and tantamount of fraudulent misrepresentation resulting in damage and disadvantage to the government. These acts of

VP Binay leads turnover of Covid vaccines to Makati City sister LGUs

ORMER Vice President and former Makati Mayor Jejomar Binay and City Administrator Claro Certeza on Monday turned over Covid-19 vaccines donated by the city government of Makati to officials of Malvar, Batangas and Meycauayan, Bulacan. Both localities are among the sister local government units (LGU) that have accepted the vaccine donation offered by the city. To date, a total of 34,800 doses have been distributed to seven local government units. These also include Urdaneta, Pangasinan; the province of Batangas; Malabon, Cuenca, Batangas; and Batac, Ilocos Norte. The sisterhood program of Makati was launched during the mayoral term of former Vice President Binay. Over the years, the city has extended various forms of assistance to sister LGUs throughout the country. During Mayor Abby Binay’s term, the city sent financial, relief and technical aid to localities hard-hit by disasters. Makati was able to lend its modern disaster response equipment to Bauan, Batangas to

Editor: Vittorio V. Vitug • Tuesday, February 1, 2022 A3

Pharmally officials are grossly aggravated by the fact that these were committed during the height of pandemic,” he said. According to Aglipay, Pharmally obtained and misappropriated funds from the general public amounting to P8.68 billion, which resulted to the “great prejudice of the Filipino people.” “Pharmally misrepresented that they possess financial capability and technical capability in order to solicit and wit contracts from the government. Upon receiving of the files, Pharmally resolved to illegally tamper and misappropriate and swindling public funds that belong to the Filipino people,” he said. “By taking advantage of the more lenient procurement regulations under Bayanihan Act One, this matter, Pharmally gravely abuse the system to the insufferable prejudice of the government,” he added. Moreover, Aglipay said the committee recommended the filing of appropriate charges for falsification of public documents against Jorge Mendoza II and Mervin lan D. Tan-

quintic of the PS-DBM Inspection Division, before the Office of the Ombudsman. In connection with emergency procurements, Aglipay said the committee recommended that the Office of the President and its attached agencies like DBM, PS-DBM, and Government Procurement Policy Board (GPPB) consider institutionalizing standard requirements that can better gauge the legal, financial, and technical capacities of suppliers. He added the committee also recommended the abolition of the PS-DBM in order to streamline government functions and services, adding PS-DBM has outlived its purpose considering that all agencies now have their own procurement department and bids and awards committee. Aglipay said the House panel found that the requirements imposed by GPPB on suppliers under the emergency procurement of the Bayanihan Act One are “extremely deficient in genuinely evaluating the capacity of a supplier.” “One’s financial capacity cannot

be proven by ITRS or ATRS alone, and an additional requirement such as Audited Financial Statements or credit history may be necessary. Likewise, documents that can attest to a supplier’s capacity to provide the specifications of the goods required, like list of previous projects, may be required,” he added. Despite the recommendation against Pharmally officials, Aglipay said the committee found that there was no overpricing in the purchase of materials, supplies, and equipment by the PS-DBM on behalf of Department of Health (DOH). “The procedure on emergency procurement pursuant to Bayanihan Act One undertaken by the PS-DBM as guided by GPPB Circular 01-2020 was consistent with applicable rules and regulations. There was nothing irregular nor illegal on the procedure applied by PS-DBM,” Aglipay said. The lawmaker said their recommendations would be submitted to the Commission on Audit, DBM, DOJ and the Office of the Ombudsman for appropriate action.

Jovee Marie N. Dela Cruz

PRC helps rebuild homes in storm-hit communities

serve thousands of evacuees who fled their homes when Taal Volcano erupted. These included mobile kitchens, mobile showers and portalets, a water filtration system, and a mobile clinic. The city also donated P17 million in financial assistance to sister LGUs devastated in the aftermath

of Typhoon Tisoy in 2019, and P24 million to sister LGUs in Mindanao hit by strong tremors. To date Makati has a total of 549 sister LGUs. The city also has sisterhood ties with 23 foreign cities and municipalities, many of which were formalized during the administration of former Vice President Binay.

ORE than a month after Typhoon “Odette” (international code name Rai) blew off the roofs of thousands of homes, volunteers from the country’s premier humanitarian organization continue to send aid to typhoonstricken communities. “The help of the Red Cross doesn’t stop with providing hot meals, relief items, and giving access to safe and clean water. We will be here to help the people recover every step of the way,” said PRC Chairman and CEO Sen. Richard J. Gordon. As part of the PRC’s long-term recovery efforts, volunteers help families build back their homes by providing shelter toolkits and corrugated galvanized iron sheets. As of January 27, 2022, the PRC has distributed shelter toolkits to 300 families in Bohol, 84 families in Palawan, and 464 families in Southern Leyte. Meanwhile, volunteers have provided shelter toolkits to 148 families and corrugated galvanized iron sheets to 50 families in Siargao Island.

TOP photo shows the distribution of corrugated galvanized iron sheets, tool kits, and bottled water in Barangay Alegria, Sta. Monica, Siargao Island to some 148 beneficiaries. Bottom photo shows the distribution of shelter tool kits in Bohol by Red Cross volunteers. PHOTO COURTESY OF PRC

Filipinos can survive Covid-19 pandemic like Europeans, Lacson assures By Butch Fernandez

@butchfBM

EN. Panfilo Lacson assured Filipinos could survive the deadly Covid-19 contagion, suggesting the key lies in adopting a successful European formula. “We need to learn how to live with Covid-19 like how they do it in Europe,” Lacson said in a radio interview

on Monday. A Covid survivor himself, Lacson recalled his experience on what it felt like to be infected with the coronavirus, and getting through it alive and well because of his vaccination status. Lacson,PartidoRepormachairman and standard-bearer in the upcoming national elections, stressed, “it is about time we start encouraging Filipinos to

learn how to live with Covid-19.” Following the Duterte government’s decision to revert the country’s Covid-19 restrictions back to Alert Level 2, starting Tuesday (February 1) the senator assured he continues to advocate for “a science-based and data-driven approach” to address the recurring challenges of managing the effects of the ongoing pandemic

nationwide “by also looking at how other nations particularly those in Europe are coping with it as well.” Speaking in Filipino, Lacson noted: “Just like these countries in Europe, you know, they are now treating the Omicron variant like an ordinary flu based on the studies they have conducted. Maybe we can also use the same data that they have, learn

from their mistakes, as well as their recommended solutions.” At the same time, the senator shared his experience when he was found positive. “Because with Omicron, I went through that when I tested positive about two weeks ago, it was really not that serious. It only felt like regular flu. I did not even experience a fever. So, I think

we should look into that.” Lacson recalled experiencing only mild symptoms of sore throat and low-grade fever when he tested positive for Covid-19 last January at the height of the Omicron scare, noting that he had no comorbidity, and was fully vaccinated with a booster shot, which helped him recover quickly from the virus.

A4 Tuesday, February 1, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Dairy imports jump 7.67% from Jan to Sept ’21–NDA

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE country’s dairy imports from January to September of last year grew by 7.67 percent to 2.329 million metric tons-liquid milk equivalent (MMT-LME) from 2.163 MMT-LME recorded in the same period of 2020, latest government data showed. National Dairy Authority (NDA) data released recently showed that the value of dairy imports during the reference period rose by 9.42 percent year-on-year to P44.129 billion from P40.330 billion. The country’s imports of milk and cream products grew by 5.13 percent to 1.941 MMT-LME from 1.847 MMT-LME while imports of butter, butterfat and dairy spreads rose by 15.61 percent year-on-year to 220,170 MT-LME. Cheese imports by the Philippines expanded by 47.34 percent to 132,330 MT-LME during the reference period from 89,810 MT-LME.

Meanwhile, imports of curd declined by 3 percent to 34,600 MT-LME from 35,670 MT-LME. In terms of value, imports of milk and cream products grew by 7.95 percent year-on-year to $657.19 million from $608.77 million while imports of butter, butterfat & dairy spreads grew by 17.64 percent to $128.48 million. Likewise, the value of cheese imports rose by 49.04 percent yearon-year to $87.43 million while value of curd imports increased by 4.93 percent to $30.08 million, based on NDA data. NDA data showed that the United States was the country’s top source

of imported milk and milk products during the nine-month period as it accounted for 33.99 percent of the total volume imported. The Philippines imported 791,720 MT-LME of dairy products from the United States, which was valued at $253.36 million. New Zealand was the secondbiggest supplier of dairy products to the Philippines at 509,110 MTLME worth $277.61 million, based on NDA data. The United States Department of Agriculture-Foreign Agricultural Service (USDA-FAS) in Manila projected last year that the country’s total dairy imports for 2021 may decline by 1 percent to 2.9 MMT-LME due to lower domestic demand caused by various Covid-19 related quarantines and movement restrictions. The USDA-FAS in Manila noted that the Philippines’s dairy imports in 2020 reached 2.936 MMT-LME. “Post sees total dairy imports in 2021 declining by 1 percent to 2.9 MMT-LME due to the slowdown in demand following the various quarantines and movement restrictions,” the USDA-FAS Manila said in its Global Agricultural In-

formation Network (Gain) report published in October. “Post forecasts overall dairy imports to slightly recover in 2022, growing 2 percent as the economy reopens, most of the population becomes vaccinated, and Covid-19 restrictions are lifted,” it added. In a statement last week, Agriculture Secretary William D. Dar said he has instructed government agencies involved in dairy production to “ramp up” domestic milk output to meet the country’s requirement for the commodity. The Department of Agriculture (DA) said Dar directed the NDA and the Philippine Carabao Center (PCC) to “re-tool local production strategies and actively partner with the private sector.” “There is a huge potential in the sector but the challenge continues at all levels. But just because the challenge is there, we cannot be complacent and fail to persevere,” Dar said. “We need to elevate our game and aim higher in such a way that the NDA and the PCC are able to strategize towards increasing competitiveness, boosting our local milk production and relying less on imports,” he added.

Jica extends ₧400-M aid for PHL’s Covid-19 recovery efforts By Cai U. Ordinario @caiordinario

HE Philippine government has secured almost P400 million in grant assistance

from the Japanese government to support its Covid-19 recovery efforts, according to the Japan International Cooperation Agency (Jica). Jica said the 885 million yen

worth grant would be to the Department of Health (DOH) to enable the agency to provide cold-chain transport and equipment throughout the Philippines. The grant aid comprises more than 70 refrigerated and service truck units, 1,000 transport boxes for vaccines, ice pack freezers, thermometers, and other equipment to be deployed nationwide in partnership with DOH. “The fight against the pandemic continues until it is subdued. No country can surpass this public health challenge alone, but with Japan by your side to face it together, we will all emerge stronger and better,” Ambassador Koshikawa Kazuhiko said. Jica said the cold-chain systems for vaccines are incredibly significant to guarantee the vaccines’ safety and efficient delivery to strategic areas across the country while retaining their efficacy. The recent rise in Covid-19

cases in various regions nationwide has made vaccines more urgent and imperative to reach all these areas. Given this, the envoy stressed that Japan’s grant assistance would play a crucial role in delivering life-saving vaccines, significantly contributing to our joint battle against the pandemic. Japan has provided comprehensive support to the Philippines since the Covid-19 pandemic began. This support includes over 3 million vaccine donations, grant aid for the procurement of medical equipment and establishment of laboratory surveillance sites. The Japanese government has also provided technical assistance for cold chain development, provision of Avigan tablets for Covid-19 treatment, as well as big-ticket yen loan assistance through the Covid-19 Crisis Response Emergency Support Loan (CCRESL) and the Post-Disaster Standby Loan Phase 2 (PDSL 2).

House panel OKs bill on tighter regulation of ‘fat-rich’ foods

HE House Committee on Ways and Means on Monday approved the tax provisions of a bill seeking to protect Filipinos from the harmful effects of industrial trans-fatty acids (TFA). In her sponsorship speech, Rep. Joy Tambunting of Parañaque City, one of the authors of the proposed “Trans-Fat Free Philippines Act,” said the bill aims to regulate the manufacture, importation, distribution and sale of food products with high trans-fatty acids, as these contribute to 500,000 deaths each year globally. The committee approved Section 25 of the bill, which provides that the importation of laboratory equipment for testing TFA would be exempt from payment of customs duties and taxes. The other approved Section 30 provides, among others, that within two years from the effectivity of the proposal, food manufacturers would comply with the additional requirements for certificate of product registration (CPR) as determined by the Food and Drug Administration. The bill substituted HBs 7200, 7202, 7934, 8093 and 8128, authored by Reps. Alfred Delos Santos,

Ronnie Ong, Angelina “Helen” Tan M.D., Luis Raymund Villafuerte Jr., and Tambunting, respectively. For her part, Tan, the chairman of the House Committee on Health, said non-communicable diseases (NCDs) kill 41 million each year, contributing 71 percent of all deaths globally. In the Philippines, Tan said NCDs account for 68 percent of all deaths. “One in every three Filipinos is likely to die before the age of 70 from one of the four major NCDs— cardiovascular diseases, cancer, diabetes, or chronic respiratory diseases,” she said. “The importance of addressing the problem of CHDs [coronary heart disease] and CVDs as a whole has never been more pronounced than during this Covid-19 pandemic where patients with comorbidities, such as CHD, have a higher risk of serious illness or death,” she added. For his part, Villafuerte said the TFA has no health benefits and the World Health Organization believes that TFA elimination is considered as one of the simplest public health intervention to reduce the risk of CHD. Jovee Marie N. Dela Cruz

www.businessmirror.com.ph

Competition: Are we consumers protected?

By Henry J. Schumacher

F you feel mergers and acquisitions are picking up the pace in the economy, you’re right. If you continue to believe that the five US Internet giants are not always behaving having our protection in mind, you are spot on again. Modern monopoly surpasses itself and constantly works to eliminate competition. This cause becomes a question of economic destiny—and should alarm the top antitrust authorities. Antitrust authorities in various parts of the world are currently working on tightening the merger rules—and are asking for input from the public. We need to understand why so many industries have so few competitors. It is necessary to make the competition policy fit for the modern economies. The lack of competition has left sectors of the economy more fragile. The concentrated supply and reduced investments in capacity could endanger us in the event of possible disruptions. There are plenty examples already where shortages are being created to drive prices up. Three sectors come up immediately: energy, healthcare and agricultural products; they cover our daily needs. Villar’s Advanced Media getting the former ABS-CBN frequencies from NTC is another example. Or look at bank mergers and bank-business acquisitions by banks: all done in the interest of fair competition? As explained in my previous columns, Metaverse is another good example how things are going the wrong way for competition protection and data privacy protection. Apple Inc. hasn’t disclosed its plan for the virtual world, but many are betting the company will introduce extended-reality devices. Apple may not have triggered the current buzz about the metaverse, but the company is reaping the benefit. Excitement about how the iPhone maker could gain from a broad embrace of digital alternate realities has been a central facet of the rise in its share price in recent months, according to investors and analysts. Microsoft agreed to buy Activision Blizzard, the video game maker

behind hits like Call of Duty and Candy Crush, for $68.7 billion in cash. The deal will position Microsoft for the next generation of the Internet–Web3. Metaverse, the name for the virtual worlds many companies are putting money into, is more of a buzzword than a big business for now. But the Activision deal could give Microsoft a significant boost against Facebook, which is considered the leader in the metaverse. It is good to see that joint policy initiatives between competition and data protection regulators picked up speed in 2021, aiming to crack down on how large companies use personal data. Some regulators are calling for greater alignment between antitrust and privacy oversight bodies to control corporate data misuse and prevent companies from using consumer data to gain an unfair competitive advantage. European regulators for data protection, competition, media, and financial markets said that they will share expertise on data processing, artificial intelligence, and other digital business areas, drawing on experiences from their own cases. The regulators said they would explore possibilities to jointly work on enforcement investigations. Regulators in Europe, the US and other regions are realizing that large tech companies have become very powerful and collected huge amounts of data, while rules on their behavior lag. Pending EU rules could add to the regulatory pressure on large data-centric companies. The draft digital markets act, which is currently in legislative negotiations, would introduce requirements on large digital companies, such as forcing them to offer data portability to end users. The legislation could be quite a significant game-changer for the way digital platforms are regulated. European regulators’ growing interest in digital platforms is likely accelerated by regular reports of new high-profile data breach scandals. The European data protection regulator is organizing a conference in June on the future of privacy enforcement, hoping to gather feedback from participants to shape a new forum for digital regulation that includes privacy, competition, and consumer protection watchdogs. At the same time, it will be essential that the private sector in the Philippines works closely with the National Privacy Commission (NPC) to safeguard fair competition and the Philippine Competition Commission (PCC) to safeguard privacy factors associated with data. Feedback would be most welcome; contact me at hjschumacher59@ gmail.com

For 5th consecutive week, oil firms raise fuel pump prices By Lenie Lectura

@llectura

IL firms announced Monday another oil price increase this week. Gasoline prices will go up by P0.75 per liter, diesel by P0.75 per liter and kerosene by P0.45 per liter. The price adjustment takes effect Tuesday, February 1. This is the fifth consecutive week of oil price increase implemented by the oil companies. Oil firms adjust their prices weekly to reflect movements in the world oil market. Last week, gasoline prices shoot up by P1.45 per liter, diesel by P1.90 per liter, kerosene by P1.70 per liter.

These resulted to the year-todate adjustments to stand at a total net increase of P4.95/ liter for gasoline, P7.20/liter for diesel and P6.75/liter for kerosene. The Department of Energy (DOE) maintained the ongoing conflict in Eastern Europe and the Middle East has affected supply disruption. Also, OPEC and its allies continued to struggle to raise output. “Crude oil complex continued its strong uptrend from last week as supply disruptions continue to grow while demand recovery stays robust as some countries are possibly close to ‘peak omicron variant’ impacts,” it said.

News BusinessMirror

www.businessmirror.com.ph

House endorses maritime trade bill for Senate okay

HE House of Representatives on Monday endorsed for Senate approval the bill enhancing the competitiveness of Philippine maritime trade by strengthening the oversight functions of certain government agencies over the imposition of shipping charges. This after lawmakers, voting 189 affirmative and zero negative, approved on third and final reading House Bill 10575 to promote competition among transport and logistics providers and to improve service quality and reduce shipping cost. The bill requires port or terminal operators, international carriers, non-vessel operating common carriers (NVOCCs) and forwarders to file their regular shipping charges and fees with the Maritime Industry Authority (Marina) and publish the same in newspapers of general circulation. Export industry stakeholders are pushing for the implementation of standardized shipping fees, which have increased amid vessel shortage due to container “imbalance.” Shipping costs for shipments sent to the Philippines are way more expensive compared to its neighbors in the region, they said. The average cost for local ports amount to $592 per 20-feet (ft) full container load, as against the $202 average in other countries. Moreover, the bill also mandates that no new or initial rate or change in an existing rate that results in an

increased cost to the shipper may become effective earlier than 30 days after filing with Marina, except when allowed by the agency for a reasonable cause. It prohibits the international shipping lines or their agents, freight forwarders and NVOCCs to Philippine consignees and shippers to impose local shipping charges, except for internationally-accepted surcharges, fees for value-added services, and behavioral charges such as late payment fee, container insurance, the parameters of which must be clearly defined in the contract of carriage and subscribed to by the shipper or consignee. The measure also requires that certified copies of all existing agreements made between and among international carriers operating in Philippine ports that affect maritime trade shall be submitted to Marina within 90 days from the effectivity of the proposal and authorizes the Marina, during the effectivity of any agreement or amendment thereto, to determine whether the same is likely to produce unreasonable reduction in transportation services or an unreasonable increase in transportation cost, and to refer the same to the Philippine Competition Commission for appropriate action. The bill also prohibits detention charges and demurrage fees when the cause of delay in the return of empty containers on the part of the shipping lines. Jovee Marie N. Dela Cruz

New ‘pushcart classroom’ advocate Cartilla honored

JONATHAN J. CARTILLA of Project En-ABLE (leftmost in the split screen), proponent of “Educating and Empowering the Community through Mobile Kart” initiative from the Philippines, is among the three winning proposals for the “Taiwan Excellence: Sharing is Caring” campaign, poses with a finger heart with fellow winners and organizers. CONTRIBUTED PHOTO By Roderick L. Abad @rodrik_28 Contributor

NEW “pushcart classroom” champion is now following the footsteps of former CNN Hero Efren Peñaflorida whose concept about a mobile school of today’s time has just been recognized abroad. Jonathan J. Cartilla, Project Mobile Cart innovation officer at Seed4com, is the proponent of “Educating and Empowering the Community through Mobile Kart” initiative that is among the three winning proposals for the “Taiwan Excellence: Sharing is Caring,” thefirstworldwidecampaignorganized by Taiwan’s Bureau of Foreign Trade (BOFT), Ministry of Economic Affairs and Taiwan External Trade Development Council that seeks to address environmental and social problems. Timely to the Covid-19 pandemic now being faced by the country, his team put together as an entry a rolling classroom that is equipped with laptops and internet so that children in the remote areas can learn how to use computers and get connected to new things, especially now that faceto-face learning is limited due to the ensuing health crisis. Helping address the climate change issue, it is powered by Taiwan Excellence solar panels that promotes environmental protection. In his acceptance speech during the recent online announcement of winners and news conference, Cartilla thanked the campaign organizers for this opportunity to promote education in the rural areas. “The mobile cart would be able to

visit the narrow communities—the slums. Therefore, all those out-ofschool-youth would be given those interventions,” he said. With this project, a classroom regardless of distance will no longer be just a dream but a reality. Per BOFT, Cartilla’s winning proposal, together with two others from New Zealand’s “Solar Solutions for Indigenous Māori Communities” and Taiwan’s “One-day Medical Tour and Same-day Denture Delivery—Mobile Digital Denture Clinic & Oral Health Service Project,” would be funded and implemented according to how they plan out in the proposed region/country, hoping to promote kindness and good deeds in the local communities. “Sharing is Caring” campaign’s debut had received 781 proposals from 61 countries, which were then cut into 12 finalists from nine countries, including the Philippines, New Zealand, Taiwan, Vietnam, Israel, Kenya, Nigeria, and Tunisia. BOFT Director General Cynthia Kiang was excited to see that so much could be achieved and so many people participated for the first year of this initiative. She said: “We could feel that love and care are everywhere in the world. At the same time, the Taiwan Excellence winning companies will continue to spare no efforts in pushing forward the UN Sustainable Development Goals [SDGs] via the campaign.” Meanwhile, Professor Chu Jou-Juo, one of the members of the selection panel, was impressed with how wellintentioned all the proposals were, citing that if one idea needs to stand out as a winning proposal, a mere creative philanthropic idea is not enough.

Tuesday, February 1, 2022 A5

Investment surge fuels 2.3% job hike in SBMA amid Covid

SUBIC’S services sector makes new business by attending to the needs of repatriated overseas Filipino workers arriving at the Subic Bay International Airport during the Covid-19 pandemic. HENRY EMPEÑO

By Henry Empeño | Correspondent

UBIC BAY FREEPORT—New investments and expansion projects in the services and manufacturing sectors here fueled a sturdy 2.31 percent increase in job generation last year, bringing the total number of work force in this Freeport to 142,177 by the yearend.

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma said that despite some business difficulties brought about by the continuing Covid-19 pandemic, “Subic has been coping very well, and was finding new opportunities for businesses to survive and even prosper.”

She said that Subic’s job generation effort was driven by the services and manufacturing sectors, which now respectively hire 72 percent and 15 percent of the current workforce in the free port. The SBMA chief said earlier that more than a hundred new investor firms committed some P16.67 bil-

lion in investments from January to December last year, with one investment proposal projected to generate a total of 71,250 jobs. She said that as of now, the 3,190 Subic-registered companies in the services sector employ a total of 102,540 workers, while 93 manufacturing firms hire a total of 21,529. On the other hand, 237 construction firms operating in Subic employ a total of 12,225 workers, while 112 companies engaged in shipbuilding and marine-related services hire a total of 5,884. Eisma said that while some Subic locators have closed or reduced their manpower complement to ride out the pandemic, the number of workers in Subic actually increased by 1.03 percent in 2020 and by 2.31 percent in 2021. Eisma also pointed out that except for a .32 percent decrease in workforce count in 2009, the Subic Freeport has been enjoying a continuous growth in jobs since 1999

when the total number of workers stood at 19,969. “From there, our count continuously climbed to 55,875 in 2004; 88,450 in 2010; 112,653 in 2016; and finally, 142,177 in 2021,” Eisma said. She added that even with the closure in 2019 of the Hanjin shipyard, which used to employ some 35,000 workers, Subic still registered a manpower increase of 1.37 percent that year. “This was because job generation has been the top priority in Subic, as this was the reason for its being—to provide jobs, especially to those who lost theirs when the Subic Naval Base closed in 1992,” Eisma explained. “And we’re proud that since then, Subic has been able to fulfill its mandate.” According to SBMA Labor Department Manager Melvin L. Varias, most of the workers employed in the Subic Freeport come from Olongapo City, which contributed a total of 62,201 or 43.75 percent. Zambales was next with 25,756 workers or 18.12 percent of the total; Bataan with 17,764 (12.49 percent); National Capital Region with 5,310 (3.73 percent); Pampanga, 4,388 (3.09 percent); Tarlac, 1,950 (1.37 percent); and other areas, 24,808 (17.45 percent). Just last December, Varias said that a total of 2,062 workers were hired by Subic firms, mostly in the services (1,519) and manufacturing (494) sectors. Varias said that as of December 2021, the Subic workforce is comprised of 101,113 male workers, or 71.12 percent of the total, and 41,064 females, or 28.88 percent. He added that the biggest employers in Subic today are Datian Subic Shoes Inc. with a total of 4,697 employees; Philippine Easepal Technology Ltd. Corp. with 2,766; EZ Set Tong Lung (Phils,) Metal Industry Co., 2,681; Sanyo Denki Phils. Inc., 1,375; and Exact Star Subic Bay Corp., 1,247 workers.

DENR chief: Wetlands among our country’s ‘natural assets’ By Jonathan L. Mayuga @jonlmayuga

EPARTMENT of Environment and Natural Resources (DENR) Secretary Roy A. Cimatu has underscored the need to protect the country’s wetlands, which can be considered among the country’s natural assets. “Wetlands are among our country’s natural assets and thus we have made them part of our ongoing rehabilitation of Boracay Island. We believe that showcasing their importance through wetlands recovery and restoration in the island is an effective means of spreading awareness to the public,” Cimatu said in a news statement as the Philippines join the world in celebrating World Wetlands Day 2022. With the theme “Wetlands Action for People and Nature,” this year’s World Wetlands Day highlights the

importance of concerted actions in conserving and ensuring the sustainable use of wetlands for human beings, the environment, and all living creatures that depend on it. The DENR, through the Biodiversity Management Bureau (BMB), will celebrate the gains made in the rehabilitation of Boracay wetlands during the local celebration. This year’s celebration focuses on the concrete actions for wetlands to save them from further degradation, said Cimatu. “By restoring the ‘Wetlands of Boracay,’ we do not only conserve their ecological functions in the island but also add up to the diversification of Boracay’s tourism attraction sites,” he added. The DENR will lead the local celebration at the Boracay Wetland Conservation Park, formerly Wetland No. 2, in Barangay Balabag, Boracay Island on Wednesday, February 2.

The event will showcase the partnership in wetland conservation with private companies such as Aboitiz Equity Ventures Inc., Boracay Tubi System Inc., Energy Development Corp. (EDC), and J.G. Summit Olefins Corp. During the main event, the EDC, an adopter of the DENR’s “Adopt-aWetland Program,” will be turning over the completed project for Wetland No. 2 to the DENR after more than three years of rehabilitation. DENR-BMB OIC Director Natividad Bernardino said this year’s theme also serves as a “clarion call for Filipinos to act for the welfare of the country’s wetlands.” “We need to invest financial, human, and political capital to save our wetlands from disappearing and restore those we have degraded. It is also an appeal to restrategize and capitalize on nature-based solutions such as wetland conservation, which provides sound and sustainable

benefits for human beings, the environment, and all creatures on the planet,” Bernardino said. World Wetlands Day is celebrated annually to raise global awareness on the vital role of wetlands for people and our planet. The date also marks the anniversary of the Convention on Wetlands, which was adopted as an international treaty in 1971. Presidential Proclamation No. 74, Series of 1999, also declares February 2 of every year as National Wetlands Day in recognition of the immense importance of wetlands to the welfare of the Filipino people and the protection of global biodiversity. This year’s celebration is particularly significant because it will be the first time that it will be celebrated as a United Nations International Day through a resolution adopted by the UN General Assembly on August 30, 2021.

BSP, Comelec seal accord on source code safekeeping

HE Bangko Sentral ng Pilipinas (BSP) has agreed to safekeep the Automated Election System (AES) source code that the Commission on Elections (Comelec) will use for the 2022 national and local elections. In a virtual public signing on Monday, the BSP and Comelec have formally entered into a legal agreement for the deposit of the AES source code to the BSP’s coffers in the National Capital Region (NCR). “For the forthcoming the May 9,

2022 national and local elections, by virtue of the provisions of the Escrow Agreement, Comelec is duty bound anew to deposit the 2022 Automated Election System Source Codes with BSP. BSP is willing and ready to accept such a deposit as its escrow agent,” BSP Governor Benjamin Diokno said. “BSP fully supports and looks forward to the conduct of the coming elections in a manner that demonstrates the highest standards of integrity, for the

benefit of all Filipinos,” the governor added. To ensure free, orderly, honest, peaceful, credible, and informed elections, Republic Act 9369 mandates Comelec to place in escrow the source codes to BSP for safekeeping. In the 2010, 2013, 2016, and 2019 elections, all source codes were deposited in the BSP’s vault. The governor said the BSP guarantees that the vault assigned to Comelec is secured by a series of metal locks and combination

codes, and the keys to the metal locks, as well as the combination codes, are under the sole custody of Comelec officials. This is to ensure that the source code will not be tampered with by anyone and will remain unaltered, thus, preserving the legitimacy of the elections. Comelec said the schedule of the actual turnover of the source codes has yet to be determined and will be announced to the public in due time. Bianca Cuaresma

BusinessMirror

Tuesday, February 1, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

SPANN, CHRISTOPHER DANIEL Instructor Analyst 1.

Brief Job Description: • Responsible for the delivery of high-quality training on Japanese language and culture using variety of media types.

Basic Qualification: Open to both degree holders and college undergraduate with relevant experience

WANG, JIANGANG Mandarin Operations Manager 11.

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

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

DENG, XIANHUA E-commerce Consultant (Chinese Speaking) Brief Job Description: Provide suggestions to clients.

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

JIANG, JINGLI E-commerce Consultant (Chinese Speaking) Brief Job Description: Provide suggestions to clients.

Basic Qualification: Knowledgeable in computer applications/ can multi-task and keen to details/able to speak Chinese and English fluently

TAN, YANMEI E-commerce Consultant (Chinese Speaking) Brief Job Description: Provide suggestions to clients.

VAN DE VEN, MAARTJE JOHANNA PETRONELLA Superintendent 12.

TSAI, MING-HUNG E-commerce Consultant (Chinese Speaking) Brief Job Description: Provide suggestions to clients.

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

WANG, XUEQIN E-commerce Consultant (Chinese Speaking) Brief Job Description: Provide suggestions to clients.

Basic Qualification: Knowledgeable in computer applications/ can multi-task and keen to details/able to speak Chinese and English fluently

VILORIA PEREZ, CRISTIAN DAVID Systems Engineer 13.

XIA, LING E-commerce Consultant (Chinese Speaking) Brief Job Description: Provide suggestions to clients.

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

YE, HUAQING E-commerce Consultant (Chinese Speaking) Brief Job Description: Provide suggestions to clients.

Basic Qualification: Knowledgeable in computer applications/ can multi-task and keen to details/able to speak Chinese and English fluently Salary Range: Php 30,000 - Php 59,999

AMDOCS PHILIPPINES INC. 23rd, 25th, And 26th Floors Eco Tower, 32nd St. Cor. 9th Ave. Bonifacio Global City, Fort Bonifacio, City Of Taguig

RAI, NITISH Scrum Master 9.

Brief Job Description: Provide recommendations to the software engineering manager for estimates, resource needs

Basic Qualification: Bachelor’s degree, knowledge in the BSS domain (technology and Amdocs products Ordering, CRM.

Brief Job Description: Provide first level resolutions for EUC and Business Applications

DOMINGUEZ RODRIGUEZ, JOSE MARIA Team Manager 14.

Brief Job Description: Spanish social media content moderation, understanding cultural nuances, Spanish language proficiency

LI, SONGKANG Mandarin Speaking Customer Service Representative 15.

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails WANG, YANNI Mandarin Speaking Customer Service Representative

16.

17.

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

LO, YEE NI SANDY Director - Dispatching, Scheduling & Administration Brief Job Description: Manage aircraft operations and related functions.

GAN, QUAN Project Manager 18.

Brief Job Description: Responsible for managing technical issues on materials, equipment being used

LING LII CHENG Mandarin Accounts Staff Brief Job Description: Responsible in answering customer questions about product and services of the company

LOOI CHOI YEE Mandarin Technical Support

Brief Job Description: To positively develop existing & new customers and distributors within Philippines to optimize our earnings from these markets over the short, medium and long term.

20.

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

Brief Job Description: Responsible in answering customer questions about product and services of the company

SIAO, JYUN-LING Mandarin Technical Support 21.

BEAUT TECHNOLOGIES CORP. 3/f Salcedo One Center, 170 Salcedo St., San Lorenzo, City Of Makati

22.

Basic Qualification: must possess at least a Bachelor’s degree on any field. customer service skill and technical support

23.

Brief Job Description: Responsible in answering customer questions about product and services of the company

Brief Job Description: Works as an independent consultant or as part of a consultancy firm to provide marketing expertise to clients with Bulgarian standard.

FAN, KENG HONG Mandarin Site Technical Officer 24.

Brief Job Description: Assist in the monitoring and supervision of site work to ensure compliance of technical specifications, contractual and statutory obligations as well as safety regulations requirements including stipulated quality of equipment and workmanship KANG, YONGQING Mandarin Site Technical Officer

25.

26.

27.

Basic Qualification: Airport industry professional certifications.

Basic Qualification: Fluent in Mandarin and English languages, both verbal and written.

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

Basic Qualification: Proficiency in English, Mandarin and other multi-lingual language

DAMBI, EDUARDO ERNESTO XAVIER Order To Cash Analyst-Portuguese Language Brief Job Description: See attached employment contract

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

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

Basic Qualification: Bachelor’s degree with at least 3-5 years of working experience in the related field; fluent in mandarin/ basic English Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Above average working knowledge of accounts receivables (AR) Good understanding of business-to-business collections concepts ability to manage volume of accounts and work independently ability to prioritize tasks manage multiple priorities and tight deadlines

ITECHNO SPECIALIST INC. 24/f Yuchengco Tower I, Rcbc Plaza, Bel-air, City Of Makati NGUYEN THI THAO NHI It Support Specialist 28.

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

Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language Salary Range: Php 30,000 - Php 59,999

JDB MANAGEMENT AND CONSULTANCY CORP. 107 T & D House, Magallanes St. 069, Barangay 655, Intramuros, City Of Manila

LI, YALIN Strategic And Facilitation Officer 29.

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

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

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

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

Basic Qualification: Proficiency in English, Mandarin and other multi-lingual language

Basic Qualification: Must be College Graduate or College Level, knowledge of regulating requirements or standards for Bulgarian Accounts/Clients.

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

Basic Qualification: Proficiency in English Mandarin and Other Multi-Lingual Language

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

IBM BUSINESS SERVICES, INC. 8th Floor, 1800 Bldg., Eastwood City, Libis, Quezon City

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

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

Basic Qualification: College Graduate outstanding leadership skills, fluent in mandarin and English preferably with proven work experience in project management

HAMMERTIME CONSTRUCTION INC. Unit 203-s3 2nd Flr., Fbr Arcade Bldg., Loyola Heights, Quezon City

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

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

Brief Job Description: A telecom project manager studies various documents related to the project to help suggest techniques to improve the working and functionality of it

TSEKA, DIMITAR RAMIS Bulgarian Marketing Consultant

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

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

QUALIFICATION AND SALARY RANGE

GREAT GROUP OF ALLIANCE CONSULTANCY INC. Unit 6e 6/f Marvin Plaza Bldg., 2153 Chino Roces Ave., Pio Del Pilar, City Of Makati

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

FRONTIER POINT MANAGEMENT SOLUTIONS INC. 29/f Techzone Bldg., Sen. Gil Puyat Ave., San Antonio, City Of Makati

ARISTOCRAT (PHILIPPINES) PTY. LIMITED 12th F Net One Center, 26th St. Cor. 3rd Ave. Crescent Parkwest, Fort Bonifacio, City Of Taguig

10.

CALVIN TAY KUANG MING (CALVIN ZHENG GUANGMIN) Project Manager

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

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

Basic Qualification: Full sales management of all existing customer in designated markets.

Basic Qualification: 10+ years of experience in 24x7 operations focusing on technical roles; Proficient in Spanish language; Native Spanish speaker

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

FUTURENET AND TECHNOLOGY CORP. 4502 The Finance Centre, 26th Street And 9th Ave., Fort Bonifacio, City Of Taguig

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

FALCONER AIRCRAFT MANAGEMENT INC. Interisland Hangar, Gen. Aviation Bldg. Andrews Ave., Barangay 191, Pasay City

19.

KEEN, ALEX JOHN Sales Market Manager

No.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications/ can multi-task and keen to details/able to speak Chinese and English fluently

Brief Job Description: Manages and supervises the execution of a part of the project which may include dredging, site clearance, dry earth movement or rockworks scope, wet sand fill/dry sandfill, sand supply fleet and equipment.

Basic Qualification: Minimum 3 years extensive work experience with an international dredging company

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications/ can multi-task and keen to details/able to speak Chinese and English fluently

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

BOSKALIS PHILIPPINES INC. Unit 3701, 3801 The Orient Square, F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications/ can multi-task and keen to details/able to speak Chinese and English fluently

QUALIFICATION AND SALARY RANGE

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

ALTERA KARNA BUSINESS CORP. Unit No. Unit A & O Flr., No.5/f Eighty One Bldg. Newport Bldg. St., Barangay 183, Pasay City Basic Qualification: Knowledgeable in computer applications/ can multi-task and keen to details/able to speak Chinese and English fluently

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ACCENTURE, INC. 7f, Robinsons Cybergate Tower 1, Pioneer St, City Of Mandaluyong

www.businessmirror.com.ph

HOU, YA-HUEI Purchasiing Coordiinator 30.

Brief Job Description: Inspecting stocks and reporting any faulting items or inconsistencies immediately. Updating and maintaining records of all orders, payments and received stocks

Basic Qualification: Fluent in mandarin and english language both in written and verbal, must familiar in expert planning and administrative writing and reporting skills Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

KEVIN CHIENG SHAO FU Purchasing Coordinator 31.

Brief Job Description: Inspecting stocks and reporting any faulting items or inconsistencies immediately. Updating and maintaining records of all orders, payments and received stocks

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Fluent in mandarin and English language both in written and verbal, must familiar in expert planning and administrative writing and reporting skills

32.

Brief Job Description: End to end custody Trades Processing, process management & flawless delivery of custody trades. Accountable for change management, process improvement and managing inherent risk of the trades workflow. Will require collaboration with global teams and stakeholder management.

BANGERA, LIKHIT DAYANANDA Trade Lifecycle Manager II

33.

Brief Job Description: • Responsible for managing and oversight of pipeline production, turn-times, quality, management of compliance and regulatory standards; including leading a team responsible for auditing Mortgage Loan applications for QC purposes prior to loan funding. • The team ensures the loan application is approved and compliant with regulatory and financial guidelines.

Basic Qualification: • CA/ MBA (Finance)/ CFA or graduate. • Knowledge of Capital Markets essential with at least 5+ years’ experience within Custody related operations. • Strong Stakeholder management and risk mitigation skills. Salary Range: Php 60,000 - Php 89,999 Basic Qualification: • Operations / Project Management experience including 10+ years managerial experience motivating and leading teams • Extensive experience driving process change and efficiencies in a growing business – strong focus on execution and delivery against objectives • Ability to challenge and influence stakeholders to ensure decisions are well thought out and can be executed from an operations perspective

42.

SALDANHA, JAMES LYNDON Trade Lifecycle Manager III 34.

Brief Job Description: End to end custody Trades Processing, process management & flawless delivery of custody trades. Accountable for change management, process improvement and managing inherent risk of the trade’s workflow. Will require collaboration with global teams and stakeholder management.

Brief Job Description: Responsible for the management and collection of outstanding customer accounts, whilst maintaining the highest level of customer NUÑEZ SERRANO, MARIA MILAGRO Spanish Speaker Collector-Spain

43.

Brief Job Description: Contacting customer to collect the money for pending invoices in their statement account meeting with the customers and sales for agreements in order to collect the money in a fast way

OOI CHOON YANG Mandarin Speaking Marketing Specialist 44.

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

45.

Brief Job Description: Oversee all installation, repair, and upkeep operations of the company’s facilities

ISHII, NOBUNAGA Project Manager 46.

Brief Job Description: Coordinate the schedule, budget, issues, and risks of the projects

KONDO, KEIJU Project Manager 47.

Brief Job Description: Coordinate the schedule, budget, issues, and risks of the projects

KING-MERCHANT BUSINESS TRADING INCORPORATED Unit 2505-f, The Finance Centre 26th St., Fort Bonifacio, City Of Taguig

35.

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

WANG, HAILEI Mandarin Speaking Marketing Specialist 36.

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

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

37.

Brief Job Description: Responsible in install and configure hardware operating and applications.

PHAM ANH TUYET Vietnamese Customer Service Representative 38.

Brief Job Description: Responsible in Answering customer questions about product and services of the company

Basic Qualification: Proficiency in Mandarin and any other multilingual language

Basic Qualification: Proficiency in English Mandarin and Other Multi-Lingual Language

39.

Brief Job Description: Finance assistant include processing payments, updating financial records and managing invoices.

JI, SEUNG HUN Sales Representative 40.

Brief Job Description: Sales representative are responsible for communicating the benefits of a company’s products in order to drive sales.

49.

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

50.

41.

Brief Job Description: Key client ar controller, contacting key customers to collect the revenue of company services

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

BANBAH, MUNISH Chief Operating Officer Brief Job Description: Manage operations of banking

Brief Job Description: to respond to customers concerns on site and supply solutions to their concerns

HUANG, FU-CHUN Chinese Customer Service Representative 51.

Brief Job Description: to respond to customers concerns on site and supply solutions to their concerns

HUANG, YUAN-LING Chinese Customer Service Representative 52.

Brief Job Description: to respond to customers concerns on site and supply solutions to their concerns

PENG, CHIN-YU Chinese Customer Service Representative 53.

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

Basic Qualification: Extensive experience in maintenance management of Japan building projects with multiple interfaces and acts as a point contact for Japanese clients.

Basic Qualification: Extensive experience in multi-disciplinary construction projects with multiple interfaces and acts as a point contact for Japanese clients Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Extensive experience in maintenance management of Japan building projects with multiple interfaces and acts as a point contact for Japanese clients. Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Extensive experience in multi-disciplinary construction projects with multiple interfaces and acts as a point contact for Japanese clients

Basic Qualification: 18+ years of finance exp, licensed, manage end to end banking.

Brief Job Description: to respond to customers concerns on site and supply solutions to their concerns

Basic Qualification: proficient in speaking, reading and writing in Chinese

MA, JIAJU Mandarin Customer Service Representative

55.

Brief Job Description: Identify and assess customer needs to achieve satisfaction

SUN, YONGXIANG Mandarin Marketing Specialist Brief Job Description: Planning and overseeing new marketing initiatives

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

OWG PHILIPPINES INC. Unit 1201, High Street South Corporate Plaza Tower 1, St. Cor. 9th Ave., Fort Bonifacio, City Of Taguig HAYAMA, SATOSHI Japanese Coordinator/interpreter 56.

Basic Qualification: College Graduate, Must be Fluent in English and Nihonggo, Has resided in Japan for at least 3 years

Brief Job Description: The Interpreter/Medical Translator serves as a translator for the patients and staff and supports the operations of HIBARI CLINIC. As Japanese Coordinator, he supports the clinic by providing accurate, efficient clerical and administrative duties, including receptionist works.

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

QINGJIAN GROUP CO. LTD. 1046 U500 Puso Ng Maynila Bldg., A. Mabini St., 072, Barangay 666, Ermita, City Of Manila

57.

Basic Qualification: Fluent in mandarin both written and spoken with a least 5 years’ experience in construction industry.

MA, GUANGCHUN Chinese Installation Specialist Brief Job Description: Serve as site supervisor for installation works.

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

QISO INC. Unit 2502-c, 25th Flr., West Tower, Philippine Stock Exchange Road Ortigas Center, San Antonio, City Of Pasig

58.

Basic Qualification: college graduate/6mos experience

CHO, JUNGHUM General Manager Brief Job Description: tasked with daily business activities

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

SHELL SHARED SERVICES (ASIA) B.V. 16/f-25/f Solaris One Bldg., 130 Dela Rosa St., San Lorenzo, City Of Makati RIVERA VASQUEZ, MARIO PAUL Customer Success Specialist 59.

Brief Job Description: Responsible for a certain customer portfolio to take ownership, drive accountability, and demonstrate and communicate improvements for our customer journey.

OZAKI, HIROAKI Corporate Communication For Finance

60.

Brief Job Description: Ensuring that finance/accounting project and activites are properly cascaded to all concerned parties. He/she is expected to be a strategic thinker with meticulous attention to detail, and should be able to acquire and maintain a detailed knowledge of the company’s policies, principles, and strategies, and help keep everyone up-to-date with relevant.

OMI, KAZUKI President/general Manager 61.

Brief Job Description: Review operations and plans to meet requirements for sales planning and to ascertain organic or outsourcing requirements to develop new markets.

TRAN VAN THUAT Associate - Cs Internet 62.

Brief Job Description: Backend content editing or content moderation process for social media.

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

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

U-HUAT INTERNATIONAL TRAVEL, INC. 1034 G, Masangkay St., 028, Barangay 294, Binondo, City Of Manila QIU, HAIQUN Marketing Manager 63.

64.

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

Basic Qualification: Excellent in Chinese language

Basic Qualification: Minimum of bachelor’s degree in economics.

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

QIU, HAINAN Sales And Marketing Manager

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

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

Basic Qualification: Strong understanding of social media platforms, content moderation and or digital content management work streams.

Basic Qualification: proficient in speaking, reading and writing in Chinese

Basic Qualification: At least Bachelor’s Degree in Finance and Accounting, Able to speak and write in Japanese with N1 Japanese Language Proficiency Test (JLPT) At least 3 years work experience in the Finance Industry.

SUTHERLAND GLOBAL SERVICES PHILIPPINES, INC. 12th Floor Philplans Corporate Center, Kalayaan Avenue & Triangle Drive, Fort Bonifacio, City Of Taguig

Brief Job Description: Managing promotion and positioning of company’s service

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

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

STARTSPHILIPPINES INC. 5/f Makati Sky Plaza Oledan Square, 6788 Ayala Ave., San Lorenzo, City Of Makati

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

Basic Qualification: proficient in speaking, reading and writing in Chinese

Basic Qualification: Native Spanish speaker

SOJITZ G AUTO PHILIPPINES CORPORATION Unit Gc15 Edsa Grand Residences, 75 Corregidor St. Edsa 1, Ramon Magsaysay, Quezon City

Salary Range: Php 500,000 and above

NOONA BUSINESS CONSULTING SERVICES INC. 10th & 31st Floor Ore Central Tower, 9th Ave. Cor. 31st St., Bgc, Fort Bonifacio, City Of Taguig

54.

URBINA RAMIREZ, MANUEL ALEJANDRO Key Client AR Controller

Brief Job Description: Coordinate the schedule, budget, issues, and risks of the projects

CHENG, SIAO-HSUAN Chinese Customer Service Representative

MAERSK GLOBAL SERVICE CENTRES (PHILIPPINES) LTD. Levels 6-8 North Wing, Estancia Offices, Capitol Commons, Meralco Ave., Oranbo, City Of Pasig

Basic Qualification: Manages and collects outstanding accounts whilst maintaining the highest level of customer service

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

NEW WEATHER FORCES GROUP INC. 26/f The Enterprise Center Tower 2, 6766 Ayala Ave., San Lorenzo, City Of Makati

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

Basic Qualification: College graduate with experience in the related position, fluent in English and Korean hangul.

Basic Qualification: Actively follow up with payments and assist with the disputes handling process

NEURONCREDIT FINANCING COMPANY INC. Unit 1005,1605 Centerpoint Bldg., Julia Vargas Corner Garnet Road, Ortigas Center, San Antonio, City Of Pasig

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

Basic Qualification: College graduate with experience in the related position, fluent in English and Korean hangul.

No.

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

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

LERIB SERVICES CORPORATION U-3d Rose Industries Bldg., Choice Market Ortigas, Kapitolyo, City Of Pasig

LEE, HYE JUNG Finance Assistant

48.

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

KONGANBUDDIES MARKETING INC. 48/f Lower Ground Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati LI, LU Mandarin Speaking Software Development Officer

TAKAHASHI, TORU Project Manager

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

Basic Qualification: Actively follow up with payments and assists with the disputes handling process

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

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

QI, FENGYAO Mandarin Speaking Marketing Specialist

QUALIFICATION AND SALARY RANGE

MODAIR MANILA CO., LTD. INC. 3/f & 4/f 223 Salcedo Bldg., 223 Salcedo Cor. Gamboa Sts., San Lorenzo, City Of Makati

TANAKA, SHOJI Maintenance Manager

ESTABLISHMENT / ADDRESS

MIGHTY-MERCHANT BUSINESS TRADING INCORPORATED Unit 2505- E The Finance Centre, 26th St., Fort Bonifacio, City Of Taguig

Salary Range: Php 150,000 - Php 499,999 Basic Qualification: • CA/ MBA (Finance)/CFA or graduate. • Knowledge of Capital Markets essential with at least 10+ years’ experience within Custody related operations. • Strong Stakeholder management and risk mitigation skills. • Experience in leading large teams across locations

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION MORA RAMIREZ, JOSE ANDRES Spanish Speaker Collector - Spain

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

JPMORGAN CHASE BANK, N.A.- PHILIPPINE GLOBAL SERVICE CENTER 23/f Net Plaza, 31st St. E-square Zone, Fort Bonifacio, City Of Taguig

LOHANA, PRATIK RAM Trade Lifecycle Associate I

No.

Tuesday, February 1, 2022

Basic Qualification: Fluent in Chinese, 35 years old above Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Chinese, 35 years old above

Brief Job Description: Research and development of marketing strategies

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

VERTEX PROJECTS MANILA INC. Unit B & C 21/f Strata 100 Building Don F, Don F. Ortigas, Jr., Road, Ortigas Center, San Antonio, City Of Pasig Basic Qualification: Must be able to speak fluent English

TOMLINSON, LEE Project Manager 65.

Brief Job Description: Leading the implementation of appropriate safety and environmental standards

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

W.E.W RESOURCE MANAGEMENT, INC. 50/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

66.

SUN, YIHUA Mandarin Speaking Customer Service Representative

Basic Qualification: with knowledge in computer application

Brief Job Description: customer support for mandarin speaking client

Salary Range: Php 30,000 - Php 59,999 *Date Generated: Jan 31, 2022

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.

A8 Tuesday, February 1, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Learning to live with the virus

cientists have modeled future scenarios of how the pandemic may unfold, none of which include a scenario in which the virus disappears. Many experts have said they expect Covid-19 to become an endemic disease. This means enough people will gain immune protection from vaccination and from natural infection such that there will be less Covid-related hospitalization and death even as the virus continues to circulate. The viruses that cause the flu and the common cold, for instance, are endemic. As Covid infections wane, governments around the world are starting to drop pandemic restrictions and telling people they must learn to live with the virus. UK Health Minister Sajid Javid, for example, said last week: “Covid is not going away. It’s going to be with us for many, many years, perhaps forever, and we have to learn to live with it.” The Inter-Agency Task Force for the Management of Emerging Infectious Diseases placed Metro Manila and other provinces under the less stringent Alert Level 2 starting February 1. The decision is a sign that the public observed health protocols and other guidelines to contain the Covid-19 surge, according to Interior Secretary Eduardo Año. The National Capital Region was placed on Alert Level 3 on January 3 when Omicron infections surged. Presidential Adviser for Entrepreneurship Joey Concepcion and OCTA research fellow Fr. Nicanor Austriaco earlier urged the government to begin crafting the country’s exit plan from the pandemic. “It is time for the national government to transition our people from a pandemic to an endemic mindset,” Concepcion and Austriaco said in a letter to Cabinet Secretary Karlo Nograles and National Task Force Against Covid-19 Chief Implementer Carlito Galvez Jr. They said the surge of Omicron cases has peaked in Metro Manila and the wave is expected to continue in other regions in the next two weeks. “In its wake, this surge will confer significant population protection throughout the archipelago,” they said, explaining that “a significant portion of the population has already acquired immunity against Covid-19 either through vaccination or infection-acquired immunity.” More good news: After being closed for nearly two years due to the pandemic, the Philippines is reopening its borders to tourists on February 10. Vaccinated visitors will no longer need to go through a mandatory quarantine. The government is also removing quarantine requirements for vaccinated Filipinos returning to the country starting February 1. “The reopening will significantly contribute to job restoration, primarily in tourism-dependent communities, and in the reopening of businesses that have earlier shut down,” said Tourism Secretary Berna Romulo Puyat. Dr. Manuel Dayrit, former Health secretary and Ateneo School of Medicine and Public Health professor, said the Philippines must invest in building its capacity to produce vaccines, as this is key in addressing the needs of Filipinos. He explained: “We need to have some form of vaccine production capacity. Even if we can’t do the research, we need to have the capacity to be able to copy and produce. If we can do that, we will have some security when it comes to vaccine supplies.” (Read, “Living with the virus,” in the BusinessMirror, January 30, 2022) As we prepare for the new normal of living with the virus, the government’s exit plan from the pandemic must include long-term health-care investments. We need to strengthen our pandemic preparedness. Like what other countries are doing, we can also carefully move on from the pandemic. Vaccination, according to experts, is the universally accepted solution to curb the spread and further mutations of the virus. We can help hurry things along toward the end stage of the pandemic by making ourselves inhospitable hosts for the virus. We can do this by getting Covid jabs and boosters.

Since 2005

BusinessMirror A broader look at today’s business

A new mindset to combat the virus menace Manny B. Villar

THE Entrepreneur

everal nations across the globe are adjusting and recalibrating their response to the predominantly Omicron strain of the Covid-19 in order to further reopen the world economy. Our experience in the past few months, in the meantime, has taught us how to manage the risks of the pandemic. And we have seen how the economy reacts positively if we loosen mobility restrictions. We need to sustain last year’s growth momentum—the gross domestic product expanded 7.7 percent in the fourth quarter of 2021—and should not be sidetracked by the sporadic outbreaks of new variants such as the contagious Omicron. The economy expanded last year and beat government’s own expectations because we learned that blanket lockdowns do not necessarily work and may do more harm than good. The more reasonable and more targeted granular approach led to stronger-than-expected business activities in the second half of 2021 that restored millions of Filipino jobs. The economy, per the report of the Philippine Statistics Authority, grew 5.6 percent in 2021, but it still was not enough to cancel the 9.6-percent contraction we experienced in

2020. The broad-based expansions across almost all sectors, though, are encouraging. We reached record daily new infections in the first two weeks of January 2022 largely because of the Omicron variant, but we did not panic and dealt with the situation without declaring another nationwide lockdown. Credit goes to the government for ensuring that the economy and the supply chain networks were functioning well during this period. The new cases have been on a downtrend since, outpaced by the number of recoveries. Hospitalization rates are manageable and deaths do not rise as fast as the infections, thanks to the massive vaccination that now covers over half of the Philippine population.

Covid lessons learned?

✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

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he Covid-19 pandemic taught us many lessons, probably least of which is in health care. When a candidate says, “I will personally manage the day to day Covid-19 response,” you know you are seeing a lack of seriousness. In the US, you could say that Covid “czar” Anthony Fauci was the person put into that position, and 75 million cases later, it was not a success. Further, there was no “one-sizefits-all” global approach. Some of the tactics were a result of local conditions; some by design. Even still with over 500,000 actives cases, Denmark is set to lift all restrictions. Belgium took a total-lockdown approach and has 50 percent more cases than Sweden (with similar sized populations), which did not shut down early. However, on the economic and business front we did learn a few things. Identity politics is a political approach where people of a particular identifying factor like race, gender or economic group are treated differently based on the identity. We discovered that maybe “identity

politics” is not necessarily favorable to the economy. Eighteen-months ago, global health-care workers were all “heroes.” That was until they started complaining about compensation. Then there were comments about “unprofessionalism” and loyalty to the nation. Since it is election season, one candidate “pledges P50,000-minimum take-home pay for health-care professionals.” If that is what is needed to have better medical care in the Philippines, teachers should probably get the same compensation. While we are at it, this compensation for police and military might solve the peace-and-order situation. Per-

Several nations are now shifting their focus—from eliminating the virus to managing the risks. Even countries such as Australia and New Zealand, which reported very few cases at the start of the pandemic, had to contend with the sudden surge of infections in 2022. The strategy is not to keep the virus out anymore, but how to live with it. The problem is becoming endemic. Obviously, vaccination will continue to play a major role. This should also be the case in the Philippines. With this new mindset, even the International Monetary Fund advised countries such as China to “recalibrate” their aggressive antiCovid policy to mitigate the negative impact of the pandemic on global supply chains and economic growth. China has adopted a zero tolerance policy on the coronavirus. IMF Deputy Managing Director Gita Gopinath has noted that while the zero Covid strategy in China worked very well in 2020 and 2021, it is no longer the case in 2022 when there are more frequent outbreaks. Economic restrictions in China and several countries are affecting the global supply chains, pushing up inflation across the globe. International agencies now have more data and greater experience to conclude that blanket restrictions do not work. Both the World Tourism Organization and the World Health Organization have urged countries to

lift or ease their travel restrictions. Even the private sector-led International Air Transport Association has asked governments to accelerate the relaxation of travel restrictions as Covid-19 continues to evolve from the pandemic to the endemic stage. Omicron has become the dominant strain in the world despite restrictions and country bans to control the spread of infections. Nations like the UK, France and Switzerland have recognized it and began easing travel restrictions. We are past the peak of the Omicron cases and should begin to apply what we have learned in the past two years. We have to live with and manage the risks from the virus, so that we can start the new normal. Vaccination may become a regular requirement for travel, and other treatments and drugs may be necessary to achieve this. We may continue to wear face masks for a longer time and observe other health protocols, but we should not surrender to the easy, yet ineffective solution of economic lockdown again. The easing of restrictions in the second half of 2021 worked in favor of the Philippine economy and the general population. Economic growth reached 6.9 percent in the third quarter and 7.7 percent in the fourth quarter. If we let our workers continue to do their jobs and ease restrictions as See “Villar,” A9

haps a universal P50,000-minimum take-home pay would solve poverty. There are two economic issues that have been impacted by the pandemic response from which we have gained both knowledge and more questions. I can say though that the greatest way the world has not benefited from the pandemic is the proliferation of experts. Put enough monkeys pounding enough typewriters for a long enough time and they will produce the complete works of Shakespeare. We nearly proved that to be true. Many experts are calling “work from home” the future of employment. They may not know that preCovid, almost 20 percent of the US workforce was already WFH. Continuing surveys of people that do WFH say that not having to go to an office and sitting at a keyboard in fresh underwear makes them 17 percent more “productive.” However, this Washington Post headline tells the true story: “You may get more work done at home. But you’d have better ideas at the office. Innovation would suffer if remote work became permanent for most employees.” Maybe that is why there were few new video games produced in 2020/2021 and many that did come out were nearly unplayable (Cyberpunk 2077). Productive peo-

ple need more face-to-face interaction than the current WFH models offer to do their best job. Just-In-Time manufacturing, introduced in the 1970s, is an inventory management strategy in which materials are only received when necessary for production. Raw materials—including parts—are not stored. However, the first largescale incorporation of JIT, Toyota Motor Corp.—quickly discovered its failure. In February 1997, a fire at a Japanese parts supplier demolished its production capacity. The weeks-long shutdown caused Toyota to halt production causing a ripple effect, where other Toyota parts suppliers had to shut down because the automaker had no need for their parts. When China shut down in 2020, global manufacturing was crushed. The supply-chain system is still broken. We all personally learned how to cope with Covid. Did the government leaders? From the political fallout of “quarantine-breaking” in the UK to the truckers strike in Canada, the answer would seem to be “No.” E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

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Transfer pricing amid Covid-19

The gathering war clouds Manny F. Dooc

TELLTALES

Atty. Jomel N. Manaig

Tax Law for Business

lmost two years on and the world is still reeling from the effects of the Covid-19 pandemic. To give some perspective, the International Monetary Fund expects global economic growth in 2021 to be at 5.9 percent with further declines to 4.4 percent and 3.8 percent, respectively, in 2022 and 2023. The slow global growth is the product of the disruptions brought by Covid-19, which contributed to increase in poverty, sharp reduction of remittance flows, and volatile commodity prices, among others. Global trade was likewise not spared. Along with the effect on basic economic circumstances, Covid-19 presented a complex hurdle on the determination of the arm’s length principle. With the BIR’s renewed vigor to implement transfer pricing audits to test the compliance of related party transactions to the arm’s length principle, taxpayers must make significant strides to justify their pricing mechanisms amid the backdrop of Covid-19. Compliance to the arm’s length principle relies heavily on comparability analysis. Basically, this involves the gathering of historical data from comparable transactions and/or entities to determine whether a related party transaction adhered to the arm’s length principle. However, historical data may not accurately reflect current economic realities or may have skewed figures due to the economic impairments caused by the pandemic. In a bid to guide taxpayers and tax administrators, the Organisation for Economic Co-operation and Development (OECD) provided for practical approaches regarding the performance of comparability analyses to address the information deficiencies on the impact of Covid-19. Comparability analysis may be supported by a separate analysis on the changes in certain key metrics from the pre-Covid-19 years against the present. Such key metrics may include sales volume, capacity utilization, Covid-19-related incremental or exceptional costs, government assistance and interventions, and macroeconomic information. A comparison of budgeted/forecasted data against the actual results may also be used in assessing the financial impacts of Covid-19. These analyses aimed to explain to tax administrators the “should be” financial outcomes of the taxpayer had it not been for Covid-19. The analyses prepared by taxpayers should be based on reliable information, preferably from publicly available historical data. However, the problem with publicly available historical data is that it may not accurately represent the current economic circumstances due to the lag in time between the occurrence of the transaction and the availability of information regarding that transaction. As such, use of the said data may not provide a sufficiently reliable benchmark without considering the specific impact of the pandemic. Considering the said limitation, the OECD advised tax administrators to take into consideration certain practical approaches in order to minimize disputes where taxpayers are making good faith efforts to determine arm’s length prices despite

Villar. . .

Continued from A8

the situation allows, we may achieve another 5-percent or 6-percent growth this year, which would bring our GDP back to pre-pandemic levels. I agree with the assessment of the National Economic and Development Authority that we need to change our mindset—from a pandemic mindset to a more endemic one. This means defense from Covid should be balanced with protection from hunger, joblessness and eco-

the information deficiencies associated with the Covid-19 pandemic. One of these practical approaches is the use of reasonable commercial judgment supplemented by contemporaneous information to set a reasonable estimate of the arm’s length principle. Here, taxpayers, after exerting reasonable and appropriate due diligence, must be allowed to evaluate the likely effects of the Covid-19 pandemic and implement appropriate changes in their transfer prices. Taxpayers must also document the best available market evidence currently available to complement the evaluation. Another practical approach is for tax administrators to allow for an “outcome-testing” approach where taxpayers are allowed to incorporate information that becomes available after the close of the taxable year to determine arm’s length conditions and report results on the tax return. However, local application of this approach may require the BIR to issue related guidelines since it may ultimately lead to significant amendments in the tax returns. Without said guidelines, taxpayers may shy away from amending their tax returns considering the fines and penalties attendant to such amendment. Lastly, the OECD also recommended the use of more than one transfer pricing method to corroborate the arm’s length price of a related party transaction. In addition to changes in the comparability analyses, the OECD recommended the use of price adjustment mechanisms to provide for flexibility while maintaining an arm’s length outcome. The use of price adjustments would address the issue of information deficiencies. However, given the scope of the potential adjustments, extreme care should be practiced. Evidently, timely and accurate information is key in transfer pricing. While taxpayers may gather the necessary information on their own, it is highly recommended to consult their transfer pricing expert in order to give them insights on all the intricacies and complexities in transfer pricing, especially in the time of Covid-19. The author is a junior partner of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at jomel.manaig@ bdblaw.com.ph or call 8403-2001 local 380.

nomic decline. The situation should not be reduced to choosing between life and economy, as was the case in 2020. I am not saying we should not be cautious. In fact, we should be more careful as the virus becomes endemic. But we are now more prepared to handle the situation this year, armed not only with vaccines but also with knowledge that could help us finally live the new normal. For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar. com.ph

he massive deployment of over 125,000 Russian troops along the border of Ukraine has sparked fears that Russia is preparing to invade its neighbor. This is the largest massing of Russian troops since the Cold War. Russia is strongly opposed to Ukraine’s desire to join North Atlantic Treaty Organization. It claims that Nato’s eastward expansion into the former Soviet republics will pose a threat to the country. It demands that Nato withdraw troops and war equipment from Eastern Europe and a security guarantee that Nato will bar admission of erstwhile member-states of the former USSR into Nato. This is, however, unacceptable to the Western countries. Hence, the ongoing impasse between Ukraine and the western countries forming the North Atlantic Alliance. Both sides appear to be girding for war with the two forces arming themselves to the teeth. Nato allies have started sending forces and equipment to Ukraine. Last week, American ammunition arrived in Kiev and warned Kremlin that its invasion forces would be met with fierce resistance. The US top diplomat in Ukraine, Kristina Kvien said that Ukrainian troops are “wellequipped and ready.” She added that if Russia invades Ukraine, “the losses to Russia will be heavy.” The US government has also placed on emergency alert 8,500 American special forces on standby for potential deployment in case hostilities erupt between Russia and Ukraine. While Russia has been denying that it would not invade Ukraine and that the build up of forces is only for training exercises with Belarus and other allied countries, Nato countries remain concerned of the massive forces deployed along Ukraine’s northern and eastern borders. The

US will honor its pledge to defend Nato allies in the event of a Russian incursion. American Secretary of Defense Lloyd Austin has said: “There’s no reason that this situation has to devolve into conflict. Putin can choose to de-escalate. He can order his troops away. He can choose dialogue and diplomacy…” But he added a warning: “Whatever he decides, the United States will stand with our allies and partners.” President Joe Biden has stated that the US would honor its commitment to its Nato partners under the collective defense pact. Top US General Mark Milley has warned that a Russian invasion “would result in a significant amount of casualties. It will be horrific. It will be terrible, and it’s not necessary…” Meanwhile, Nato has sent more fighter jets and war ships to Eastern Europe to counter Russia’s troop build-up in the region. Nato Secretary General Jens Stoltenberg has stated that “Nato will continue to take all necessary

Tuesday, February 1, 2022 A9

measures to protect and defend all Allies, including by reinforcing the eastern part of the Alliance.” On the other hand, Reuters, in an exclusive report the other day, said that apart from continuing its military buildup just outside Ukraine, Russia has moved blood and medical supplies at the frontline. This may be another indication that Russia is preparing to carry out an invasion of its neighbor. A war at this time will result in a terrible conflagration, which may engulf the entire Europe. It will consume thousands and thousands of casualties from both sides. It will cause untold destruction and suffering in the war zone. Entire villages and cities will be ravaged and their population will live in terror and agony. The country’s infrastructures, agriculture and industries will be destroyed and their economies will sustain irreparable damage. Atrocities will be committed against the civilian population by the invading enemy forces. Children, women and the elderly will be most vulnerable. No human experience can surpass the scale of misery, brutality and horror that a war can bring. People who have lived through the horrors and tragedy of war would attest that war is truly a hell on earth. While every country in the world has been at the losing end battling the pandemic, which has caused close to 6 million deaths worldwide, we cannot afford to engage in a shooting war. War is violent and ghastly. The First World War, which started in 1914, was not the deadliest and most destructive war on our planet but its battles were as emotionally wrenching as any other war. John McCrae was an army officer of the Canadian medical corps during WWI who treated many allied soldiers injured in several battles in

Flanders, Belgium. He witnessed his closed friend, Alexis Helmer, blown into bits by a bomb. He gathered his scattered remains and buried him along the row of graves amidst the growing poppies in the field and the thundering artilleries, and where the songs of the lark above were silenced by the guns below. Moved by his friend’s death, he wrote the poem, “In Flanders Field,” where the beauty of the place was spoiled by the horrors of the war. “In Flanders Field the poppies blow/ Between the crosses row and row/ That mark our place, and in the sky/ The larks still bravely singing, fly/ Scarce heard amid the guns below.” Ukraine and Russia are now closer to a full-blown war. If war erupts, Biden has warned that “this would be the largest invasion since WWII. It would change the world.” Americans in Ukraine have been advised recently by its embassy to leave Ukraine immediately and the families of American diplomats and non-essential embassy personnel were ordered to depart from the country. Other western countries have also done the same thing, further fanning the fears that war is imminent. Instead of waging war, more diplomatic efforts should be conducted by both sides and find a way to resolve the current imbroglio. World leaders should join the efforts to dissipate the gathering war clouds in Eastern Europe. Warring parties should come to the table and settle their differences amicably. Peace talks should be encouraged to de-escalate the tense situation and find a diplomatic resolution to the conflict. As they say, “the more you sweat in peace, the less you bleed in war.” If they fail, no soldier will survive to write a poem in the battlefields of Ukraine. Give peace a chance.

Cyberattacks increasingly hobble pandemic-weary US schools By Cedar Attanasio | The Associated Press/Report for America

LBUQUERQUE, N.M.—For teachers at a middle school in New Mexico’s largest city, the first inkling of a widespread tech problem came during an early morning staff call.

On the video, there were shoutouts for a new custodian for his hard work, and the typical announcements from administrators and the union rep. But in the chat, there were hints of a looming crisis. Nobody could open attendance records, and everyone was locked out of class rosters and grades. Albuquerque administrators later confirmed the outage that blocked access to the district’s student database—which also includes emergency contacts and lists of which adults are authorized to pick up which children—was due to a ransomware attack. “I didn’t realize how important it was until I couldn’t use it,” said Sarah Hager, a Cleveland Middle School art teacher. Cyberattacks like the one that canceled classes for two days in Albuquerque’s biggest school district have become a growing threat to US schools, with several high-profile incidents reported since last year. And the coronavirus pandemic has compounded their effects: More money has been demanded, and more schools have had to shut down as they scramble to recover data or even manually wipe all laptops. “Pretty much any way that you cut it, incidents have both been growing more frequent and more significant,” said Doug Levin, director of the K12 Security Information Exchange, a Virginia-based nonprofit that helps schools defend against cybersecurity risk. Precise data is hard to come by since most schools are not required to publicly report cyberattacks. But experts say public school systems — which often have limited budgets for cybersecurity expertise—have become an inviting target for ransomware gangs. The pandemic also has forced schools to turn increasingly toward

virtual learning, making them more dependent on technology and more vulnerable to cyber-extortion. School systems that have had instruction disrupted include those in Baltimore County and Miami-Dade County, along with districts in New Jersey, Wisconsin and elsewhere. Levin’s group has tracked well over 1,200 cyber security incidents since 2016 at public school districts across the country. They included 209 ransomware attacks, when hackers lock data up and charge to unlock it; 53 “denial of service” attacks, where attackers sabotage or slow a network by faking server requests; 156 “Zoombombing” incidents, where an unauthorized person intrudes on a video call; and more than 110 phishing attacks, where a deceptive message tricks a user to let a hacker into their network. Recent attacks also come as schools grapple with multiple other challenges related to the pandemic. Teachers get sick, and there aren’t substitutes to cover them. Where there are strict virus testing protocols, there aren’t always tests or people to give them. In New York City, an attack this month on third-party software vendor Illuminate Education didn’t result in canceled classes, but teachers across the city couldn’t access grades. Local media reported the outage added to stress for educators already juggling instruction with enforcing Covid-19 protocols and covering for colleagues who were sick or in quarantine. Albuquerque Superintendent Scott Elder said getting all students and staff online during the pandemic created additional avenues for hackers to access the district’s system. He cited that as a factor in the January 12 ransomware attack that canceled classes for some 75,000 students. The cancellations—which Elder

called “cyber snow days”—gave technicians a five-day window to reset the databases over a holiday weekend. Elder said there’s no evidence student information was obtained by hackers. He declined to say whether the district paid a ransom but noted there would be a “public process” if it did. Hager, the art teacher, said the cyberattack increased stress on campus in ways that parents didn’t see. Fire drills were canceled because fire alarms didn’t work. Intercoms stopped working. Nurses couldn’t find which kids were where as positive test results came in, Hager said. “So potentially there were students on campus that probably were sick.” It also appears the hack permanently wiped out a few days worth of attendance records and grades. Edupoint, the vendor for Albuquerque’s student information database, called Synergy, declined to comment. Many schools choose to keep attacks under wraps or release minimal information to prevent revealing additional weaknesses in their security systems. “It’s very difficult for the school districts to learn from each other, because they’re really not supposed to talk to each other about it because you might share vulnerabilities,” Elder said. Last year, the FBI issued a warning about a group called PYSA, or “Protect Your System, Amigo,” saying it was seeing an increase in attacks by the group on schools, colleges and seminaries. Other ransomware gangs include Conti, which last year demanded $40 million from Broward County Public Schools, one of the nation’s largest. Most are Russian-speaking groups that are based in Eastern Europe and enjoy safe harbor from tolerant governments. Some will post files on the dark web, including highly sensitive information, if they don’t get paid. While attacks on larger districts garner more headlines, ransomware gangs tended to target smaller school

districts in 2021 than in 2020, according to Brett Callow, a threat analyst at the firm Emsisoft. He said that could indicate bigger districts are increasing their spending on cybersecurity while smaller districts, which have less money, remain more vulnerable. A few days after Christmas, the 1,285-student district of Truth or Consequences, south of Albuquerque, also had its Synergy student information system shut down by a ransomware attack. Officials there compared it to having their house robbed. “It’s just that feeling of helplessness, of confusion as to why somebody would do something like this because at the end of the day, it’s taking away from our kids. And to me that’s just a disgusting way to try to, to get money,” Superintendent Channell Segura said. The school didn’t have to cancel classes because the attack happened on break, but the network remains down, including keyless entry locks on school building doors. Teachers are still carrying around the physical keys they had to track down at the start of the year, Segura said. In October, President Joe Biden signed the K-12 Cybersecurity Act, which calls for the federal cyber security agency to make recommendations about how to help school systems better protect themselves. New Mexico lawmakers have been slow to expand Internet usage in the state, let alone support schools on cyber security. Last week, state representatives introduced a bill that would allocate $45 million to the state education department to build a cybersecurity program by 2027. Ideas on how to prevent future hacks and recover from existing ones usually require more work from teachers. In the days following the Albuquerque attack, parents argued on Facebook over why schools couldn’t simply switch to pen and paper for things like attendance and grades. Associated Press writers Michael Melia in Hartford, Connecticut, and Alan Suderman in Richmond, Virginia, contributed to this report.

A10 Tuesday, February 1, 2022

PHL may scuttle alert levels in battling Covid in March

By Tyrone Jasper C. Piad @Tyronepiad

HE country may forgo the use of the Alert Level System (ALS) in curbing the Covid-19 infection by March as the recent Omicron variant has resulted in milder cases, Presidential Adviser for Entrepreneurship Jose Maria A. Concepcion said. What the government should further implement instead is minimum health protocols to avoid the spread of the virus, the Go Negosyo founder said during a Laging Handa briefing on Monday. “By March, eventually, we can remove all these alert levels and just come up with...basic minimum health standard protocols moving forward. We are seeing that this alert level 1 is possible towards the end of February, March,” he said. Metro Manila, along with Cavite, Bulacan, Rizal, Batanes, Biliran, Southern Leyte and Basilan, is under more relaxed Alert Level 2 (previously Alert Level 3) from February 1-15. Under ALS, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) outlines the quarantine

measures, depending on the level of infection in certain areas. Among these are the allowed operating capacity, activities and establishments for a specific period. “We have to realize that we have to move on. Omicron, in a way, is the variant that is allowing us to do it,” he said. He said that most of the Covid-19 Omicron cases were “very mild,” especially if the infected individuals are vaccinated. Concepcion explained that granular lockdowns may not even be needed anymore as the cases only require self-quarantine to recover, which alleviates the pressure on hospital capacity. In addition, he said consumers are more aware now about the health and safety protocols when going out, which can help in curbing the infection. The establishments like retail

stores and restaurants, he said, likewise have “understood the basic minimum requirements” for operations given the practice in the last 22 months. As such, Concepcion reminded the public to strictly adhere to health and safety measures moving forward. “Let’s not be complacent,” he said. Meanwhile, Concepcion said that several private sector groups will be meeting in three weeks to develop an “exit plan,” which is essentially a forward-looking strategy to foster economic recovery amid the pandemic. “We will craft a plan on how each sector can develop their exit plan. The idea, eventually, is to reach a point wherein there is no more alert level,” he said. Last week, Concepcion and OCTA Research fellow Nicanor Austriaco appealed to IATF to begin crafting such an exit plan. “It is time for the national government to transition our people from a pandemic to an endemic mindset,” they said in an earlier statement. Both parties want the government to open up the economy by easing and simplifying travel restrictions. Doing so, they said, can bode well especially for the micro, small

and medium enterprises (MSMEs). Moving forward, the presidential adviser also urged the banking sector to continue lending to MSMEs, tourism-related establishments and even bigger companies to finance their recovery efforts. “We have four months left until the next administration comes in, May, June. We want to turn over the economy in a healthy state and not be sick with Covid,” Concepcion concluded.

ECCP backs AL scuttling

EUROPEAN Chamber of Commerce of the Philippines (ECCP) President Lars Wittig, in a briefing on Monday, agreed that the Philippines may opt not to use ALS anymore. “That is a trend that we see globally,” he said. “If Omicron is sort of like the last hurrah for Covid, the [alert levels] are obsolete.” Meanwhile, Wittig called anew for the passage of the bill amending the Public Services Act as it will bring in “billions of dollars in incremental investments” for the country. The ECCP official also asked the incoming administration to focus on curbing corruption, passing reforms that will boost agriculture output and implementing measures highlighting nutrition.

SOCIAL MEDIA, TV BOOST DATA PRIVACY AWARENESS IN PHL

ORE Filipinos are now aware of data privacy as social-media channels and television provide avenues for disseminating related information, according to a survey commissioned by the National Privacy Commission (NPC). The nationwide survey, conducted by the Philippine Survey and Research Center (PSRC), revealed that public awareness and knowledge on the Data Privacy Act (DPA) increased to 25 percent in 2021 from 13 percent in 2017. “Awareness and knowledge on data privacy becomes more significant in 2021 as more information are willingly shared online,” the report noted. Unfortunately, NPC noted that most of the respondents with internet access still lack awareness on internet security, as only 9 percent of them know how to appropriately use social media. Data privacy awareness is the highest in respondents who have internet ownership or access to the internet. It is concentrated in the National Capital Region, Luzon and urban areas. NPC noted that the awareness of the DPA is related to the perception of respondents towards the relevance of data privacy. “The survey found that individuals who consider the DPA relevant are aware of data pri-

vacy and can effectively articulate how it protects one’s information. Conversely, those who find the DPA irrelevant lack data privacy awareness,” the privacy watchdog said. With this, NPC stressed the need to continue educating the public about data privacy, especially at the grassroots level. “The [NPC] recognizes the importance of continuously promoting data privacy awareness, most especially in locations such as rural areas and those in the lower economic classes,” Privacy Commissioner John Henry D. Naga said. He stressed the importance of empowering the data subjects so they can be less vulnerable to data privacy abuses. “Heightened awareness and familiarity with data privacy concepts and the DPA is essential in improving public satisfaction, trust, and engagement with the NPC,” Naga added. PSRC conducted the survey from October to November 2021. Respondents are males and females aged 18 years old and above coming from various economic classes. The survey measured public awareness, practices and perception of data protection and privacy issues. The results are intended in aiding the NPC in crafting evidence-based policies, programs and projects. Tyrone Jasper C. Piad

Companies

Editor: Jennifer A. Ng

Tuesday, February 1, 2022

AVID: Importers of vehicles post double-digit sales hike

By Tyrone Jasper C. Piad

@TyronePiad

ocal automotive importers said they have set their sights on accelerating their sales this year after they posted a double-digit growth and sold over 58,000 units in 2021, noting that mobility is crucial as the economy reopens. In a report on Monday, the Association of Vehicle Importers and Distributors (AVID) said its members sold 58,916 units last year, which a showed 14-percent improvement from 51,851 units recorded in 2020. “You cannot downplay the im-

portance of mobility in the reopening of the economy, gradual though it may be,” said AVID President Ma. Fe Perez-Agudo. “With unwavering confidence in the market and in the quality of our product and service offerings, AVID

members are determined to build on these gains and look forward to an even better normal in 2022.” While the industry posted growth last year, its sales were still below the 87,984 units recorded in 2019. Bulk of the full-year sales were light commercial vehicle (LCV) units, growing by 23 percent to 42,871 from 34,896. Ford Group Philippines led the LCV segment after selling 18,324 units. This is followed by Suzuki Philippines Inc. and Geely Philippines with sales of 11,314 units and 6,104 units, respectively. The passenger car (PC) segment, which AVID said was the “most affected by quarantine measures,” saw its sales decline by 9 percent to 15,092 units in 2021 from 16,650 units year-on-year. Suzuki and Hyundai Asia Resources Inc. took most of the market

share in the PC segment after selling 8,079 units and 4,639 units last year, respectively. Commercial vehicles (CV) sales, meanwhile, more than tripled to 953 units last year from 305 in 2020, most of which are accounted for by Hyundai. In December 2021, however, AVID registered an 8-percent drop in sales to 5,259 units from 5,694 units due to the slowdown in all segments. CVs, in particular, saw the steepest decline that month, with sales dropping by 59 percent to 9 units from 22 units. Following this is the PC segment, whose sales slipped by 28 percent to 1,140 units in December last year from 1,592 units in the same month in 2020. LCV sales were flat at 1 percent with 4,110 units sold in December.

PSE orders trading halt on DITO By VG Cabuag @villygc

he Philippine Stock Exchange (PSE) has ordered to halt the trading of shares of DITO CME Holdings Corp., the country’s third telecommunications company led by Davao businessman Dennis Uy. The PSE has also asked the firm to explain why it has deferred its P8billion stock rights offering (SRO). “The exchange has required DITO to submit a full and comprehensive disclosure on the foregoing matter within the day [Monday],” the PSE said in its notice. DITO’s deferment of its SRO, which it was supposed to announce on Friday but was posted on the PSE website on Saturday after regulators deliberated on it, sent shockwaves among the equities trading sector as it was done days after the conclusion of the deal on January 25. Its shares were supposed to be listed on the PSE on February 2. “We trust that our regulators will handle this development with the protection of those investors in

3D-printed plant steak startup raises funds

sraeli startup Redefine Meat Ltd. has raised $135 million in new funding for its roll out of 3Dprinted plant-based steaks across Europe amid rising demand for alternative proteins. The new funds will help build out a new factory in the Netherlands and enable the company to reach 5,000 locations in Europe by the end of this year with a focus on the United Kingdom, the Netherlands and Germany, Chief Executive Officer Eshchar BenShitrit said in an interview. The company’s aim is to attract more carnivores. “The problem with plant-based meat today is it attracts mostly vegans and vegetarians, and competition in this space does not increase the total pie,” Ben-Shitrit said in an interview. The vast majority “of consumers around the world are not vegans and vegetarians, and our job is to continue convincing them.” The fresh investment comes as global demand for plant-based meat could surge to $74 billion in the next decade from around $4 billion in 2020, according to Bloomberg Intelligence analyst Jennifer Bartashus. Bloomberg News

mind, especially since there is a large number of minority shareholders that participated in the offering,” Conrado F. Bate, president and CEO of COL Financial Group Inc., said. “For now, we should wait for the decision of the regulators on this issue, but we hope that DITO and the PSE can resolve the suspension matter as soon as possible for the benefit of the shareholders impacted.” DITO’s shares will be suspended for trading indefinitely until it has submitted the necessary disclosure to the regulators—the PSE and the Securities and Exchange Commission. The company said it deferred the SRO, which allows current shareholders to buy additional common shares of the company, due “to the less than ideal market conditions and other perceived risks.” The benchmark PSE index may have been down for the most part of January due to the outbreak of the Omicron variant, but it rose 173.38 points to close at 7,296.01 points on Monday. According to some market players, DITO’s SRO was undersub-

scribed. “Even if it does not sell, the underwriter has a firm commitment to pick up those shares,” PSE President and CEO Ramon S. Monzon said over the weekend. China Bank Capital Corp. has been tapped as the sole underwriter for the deal. Monzon said that the PSE had adjusted the reference price for the stock after the rights offering exdate. “What are we going to do? Are we going to adjust the price (again)? How about the investors who sold at a lower price because they thought they would get additional shares from the SRO?” he said. DITO said the company is studying several alternative financing proposals which are “more value-enhancing” to its shareholders. “When conditions improve, the company may return to the market.” “Thus, please be advised that the company shall refund any and all subscription payments made by any existing shareholder or qualified institutional buyer during the offer period of the stock rights offer.” The company is offering a total of

1.64 billion common shares, priced at P4.88 per share. The offer price is an 18.4-percent discount from the closing price as of January 13 and was set at the bottom of its indicative price range. DITO shares closed Friday at P5.09 apiece. The PSE said, however, that DITO’s decision “should not be construed as an approval by the Exchange of the deferment of the offering.” “Furthermore, this is without prejudice to any regulatory action that the exchange may pursue in order to ensure full compliance with the applicable rules and for the protection of the investing public consistent with the mandate of the exchange, as a self-regulatory organization, to maintain a fair and orderly market,” the PSE said. “The exchange disclaims any liability arising from, or in connection with the foregoing matter. The posting of DITO’s disclosures and the imposition of a trading halt is strictly in view of the materiality of the information and for dissemination purposes only.”

Stanley Ng is new PAL president

lag carrier Philippine Airlines (PAL) has appointed Stanley K. Ng, its SVP for Airline Operations, as the new president and COO of the company. Ng, a son-in-law of billionaire Lucio C. Tan, will sit as the new president and COO of the carrier in an acting or officer-in-charge capacity, replacing Gilbert F. Santa Maria, who helped steer PAL into its Chapter 11 restructuring last year. His appointment makes Ng the first pilot to assume the presidency of PAL since the 1960s. He started as an on-ground staff in 2003 before becoming a second officer in 2008. In 2019, he was promoted to SVP. “The board expressed full trust and confidence in Capt. Ng, as well as in its senior management team which remains intact, as the nation’s flag carrier looks to maintain the momentum toward full recovery,” the company said in a statement. Ng is married to Lilybeth Tan, the daughter of Lucio Tan and the AVP of PAL for Pilot Affairs. Santa Maria is “ending” his “engagement” with PAL after two and a half years. “The former President and COO will continue to make himself available to assist in the leadership transition over the next few weeks,” the statement read. Santa Maria is credited for many things in PAL. Most recently, he led the company into its successful restructuring program that freed up PAL from significant amounts of debt and provided the company with additional liquidity for long-term growth. Lorenz S. Marasigan

Stanley K. Ng

AirAsia sold more seats in January

Photo from www.airasia.com

By Lorenz S. Marasigan @lorenzmarasigan

espite the uptick in Covid-19 cases in January, AirAsia Philippines managed to recoup 42 percent of its pre-Covid flight operations, the main recovery metric for the budget carrier. AirAsia Philippines Spokesperson Steve Dailisan said the airline “recouped 42 percent” of its pre-Covid flight frequency in January, recording a 200-percent year-on-year increase in seats sold buoyed by the 182-percent increase in capacity. Caticlan, Cebu, and Tacloban dominated the top destinations for both leisure and essential travels, he added. “We will continue to service our guests this 2022 with safe and timely flights. We, in the travel industry, also have our sights set on cautiously restoring our pre-pandemic flight frequency this year as we are positive the pandemic will take a turn for the better before end-2022,” Dailisan said. AirAsia Philippines has started to gradually increase its domestic

flights slated for February for Davao, Iloilo, Cagayan De Oro, Bacolod, Puerto Princesa, Panglao and Kalibo in preparation for a possible influx of travelers. The carrier is also mounting hybrid and sweeper flights to serve returning overseas Filipino workers (OFWs) who needed to return to the provinces. Since the first half of January, AirAsia Philippines was able to bring home 2,500 returning OFWs. Dailisan added that AirAsia Philippines is running on an on-time performance of 80 percent. “We will continue to embrace changes and thrive towards postpandemic recovery in the first quarter of 2022. Our system in place is proven to work to our advantage and we will keep it that way to ensure that we will be able to service our guests in the coming months, bringing them home safe and sound.” The airline implements strict compliance to health protocols for both passengers and crew. As of January 27, half of its staff has already received their booster shots for Covid-19.

Federal Land, Nomura Real Estate ink JV deal

y-led Federal Land Inc. has signed a joint venture (JV) agreement with Japan’s Nomura Real Estate Development Co. Ltd. for the development of properties in the country. Nomura Real Estate will be investing some $324 million (about P16 billion), representing 34 percent of the total capital investment of the new company at P48 billion pesos. “It is envisioned to permanently redefine the Philippines’ real estate market through class-leading, advanced township developments,” Federal Land said. This new company called Federal Land NRE Global Inc. wants to deliver “unparalleled excellence” by developing a new urban lifestyle, creating value and sustainable growth, the company said. As their initial project, it will incorporate four areas of land development with a total area of about 250 hectares in Metro Manila, Cavite and Cebu. These include an initial pipeline of residential, office, commercial and industrial facilities. It is scheduled to start operations in April 2022. “We have invested in a joint venture to accelerate business expansion in a rapidly growing market. We will build and aim for development here while promoting combined housing and commercial projects with Federal Land,” Nomura Real Estate Chairman Eiji Kutsukake said. “We are committed to demonstrate the strengths of both companies through strong partnership, strategically favorable location, product differentiation, and the introduction of advanced added value.”

Nomura Real Estate is the secondlargest real estate developer in Japan in terms of condominium unit turnover as of 2020 and the fifth largest in consolidated sales. “Today marks a major milestone in the 50-year history of Federal Land. Our late founder, Dr. George S.K. Ty’s love for architecture has molded the company to expand its portfolio into delivering large-scale and quality developments. We are very delighted to bring our partnership with Nomura Real Estate, Japan’s top five developers, to greater heights,” Federal Land Chairman Alfred V. Ty said. “We intend to provide relevant real estate solutions that increase value over time and leave a positive mark for generations by building sustainable communities with distinct Japanese style and infused with Filipino sensibility.” Founded in 1957 in Tokyo, Japan, Nomura Real Estate engages in residential development, commercial property development, building leasing, and architectural design businesses across Japan, with business expansions in China, Vietnam, Thailand and the Philippines. “Nomura Real Estate will introduce advanced technologies and expertise localized for the Philippine market. The Group creates value through real estate development by leveraging its four strengths including a market-in approach that prioritizes living, working, and gathering; and a commitment to quality which we shall present to the Philippine market,” Nomura Real Estate President and Representative Director Daisaku Matsuo said. VG Cabuag

Companies BusinessMirror

Tuesday, February 1, 2022

Exec: PLDT expands fiber footprint by 73% last year

By Lorenz S. Marasigan

@lorenzmarasigan

he PLDT Group said on Monday it bolstered its fixed and mobile networks across the Philippines in 2021, helping “power hybrid workplaces, online learning, and businesses” to navigate through the new normal.

The group said it ended 2021 with a 73-percent increase in its fiber footprint to 743,700 kilometers with 14 million homes passed. The figure is “significantly higher” than the 9 million homes passed the year prior. Aside from this, the company built 1.7 million ports bringing its ports to 5.77 million to date, claim-

ing to be the “largest number of ports in the Philippines.” Smart, meanwhile, beefed up its wireless network with new 3G, 4G, and 5G base stations, which total to 75,400 as of end-December. “Nearly two years into this pandemic, more activities continue to shift online. This requires us to be unrelenting with our network ini-

tiatives despite pandemic restrictions and natural disasters, such as the recent Super Typhoon Odette,” Alfredo S. Panlilio, PLDT Inc and Smart Communications President and CEO said in a statement. “Our network has, in turn, enabled more Filipinos to access the internet to stay connected to their families, keep their livelihoods and businesses, engage in online learning, and participate in e-commerce.” In November 2021, PLDT said its home and enterprise verticals will continue to drive the company’s growth, as it expects to ride on the persisting effects of the pandemic as well as the rising demand for solutions from so-called hyperscalers. Manuel V. Pangilinan, the company’s chairman, said the group expects both business segments to “figure as major revenue growth drivers” for the company in the next three years. PLDT’s home broadband busi-

ness was its fastest growing segment for January to September 2021, with total revenues reaching P35.3 billion, a 25-percent increase from the year prior. The growth is attributable to the steady demand for broadband connectivity in the country, as Filipinos continued to work and study at home. The enterprise business booked P31.1 billion in revenues, representing a 2-percent increase. The group, however, is banking on the demand from global hyperscalers for data center services. As such, PLDT is investing P5 billion to develop a data center that will dwarf its 10 existing data centers even when they are combined. The amount will be spent within the next three years. PLDT recorded a telco core income of P23.1 billion in January to September, a 10-percent increase from P21 billion the year prior.

Ryanair cautious on travel rebound after Omicron disruption mutual funds

January 31, 2022

NAV

One Year Three Year Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

230.72

5.7%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6045

28.45% 6.01%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1945

-4.71%

-2.02%

-1.02%

2.27%

2.77%

-3.59%

-8.17%

-4.76%

-1.34%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7577 -1.43%

-7.27% n.a.

0.16%

8.44%

-4.42% n.a.

-1.02%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.763

8.54%

-2.33%

-0.09%

-0.45%

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

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

5.1596

0.7752

7.4%

-4.34%

-3.56%

MBG Equity Investment Fund, Inc. -a

-4.67%

-8.83% n.a.

-2.7%

91.88

PAMI Equity Index Fund, Inc. -a

47.5347

5.83%

-3.24%

-0.42%

-1.23%

Philam Strategic Growth Fund, Inc. -a

495.52

5.49%

-3.11%

-0.92%

-1.03%

Passenger aircraft, operated by Ryanair Holdings Plc, on the tarmac at London Stansted Airport, operated by Manchester Airport Plc, in Stansted, United Kingdom, on January 10, 2022. Photographer: Jason Alden/Bloomberg

Philequity Dividend Yield Fund, Inc. -a

1.387

23.05%

1.71%

2.45%

2.26%

Philequity Fund, Inc. -a

36.3336

8.82%

-2.12%

0.66%

-0.71%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9355

6.9%

-3.58% n.a.

-0.63%

Philequity PSE Index Fund Inc. -a

6.69%

-2.55%

818.7 0.7406

yanair Holdings Plc took a cautious view on the pace of the travel rebound, saying it will cut prices to stimulate demand this quarter while more countries consider removing Covid-19 travel restrictions. Though bookings are improving, most are still last-minute, and investors should expect further disruption before Europe is through the pandemic, the region’s biggest discount airline said Monday. The Irish company said it’s in “growth mode” but that the timing of the recovery remains unpredictable. “It’s correct to be cautious for the remainder of this financial year as there may be another twist in Covid,” Chief Financial Officer Neil Sorahan said in an interview. “It has taken us by surprise a couple of times. But we’re well placed to capitalize on the massive opportunities that exist.” Ryanair has set plans for an aggressive expansion as travel returns, with 720 new routes and 15 new bases announced for the fiscal year beginning in April. Low-cost rivals EasyJet Plc and Wizz Air Holdings Plc said last week that they’re also boosting capacity as

they target markets where network carriers are in retreat. The United Kingdom, which loosened border rules this month, is emerging as a key battleground for Easter and early summer sales.

Omicron impact

Ryanair posted a 96 million-euro ($107 million) loss for the December quarter after analysts had predicted a smaller deficit, and stuck with the more negative forecast for the year through March that it issued last month as the Omicron variant wiped out the Christmas and New Year travel peak. Ryanair shares traded 1.2 percent lower at 16.40 euros as of 8:16 a.m. in Dublin, where the company is based, paring the stock’s gains this year to 7.6 percent. The carrier said it’s hopeful that European Union nations will follow the British lead in scrapping testing for vaccinated travelers in time to restore consumer confidence well in advance of Easter, which falls in April. Sorahan told Bloomberg Television that he’s seeing progress toward relaxed rules in Germany, Italy and Austria. Bloomberg News

4.9016

Philippine Stock Index Fund Corp. -a Soldivo Strategic Growth Fund, Inc. -a

0.2%

-1.19%

6.48%

-2.55%

0.17%

-1.18%

6.85%

-6.54%

-2.9%

-1.59%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7365

7.09%

-4.48%

-1.22%

-1.03%

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

0.9328

6.01%

-2.89%

-0.06%

United Fund, Inc. -a

5.67%

-2.67%

0.52%

-1.47%

3.3868

-1.03%

-1.24%

Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a

1.1561

Philippine Stock Index Fund Corp. -a

10.19% n.a. n.a.

-0.57%

1007.43 n.a. n.a. n.a. n.a.

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

110.1912

6.79%

-2.34%

0.65%

-1.15%

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

$1.0757

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6877

-16.54%

3.36%

3.84%

-4.51%

-0.54%

12.5%

9.53%

-8.6%

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

1.664

1.43%

-1.2%

-0.79%

-1.65%

ATRAM Philippine Balanced Fund, Inc. -a

2.2803

2.33%

-0.27%

-0.1%

-0.05%

0.51%

1.27%

-0.19%

First Metro Save and Learn Balanced Fund Inc. -a 2.6859

4.83%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2125

9.88% n.a. n.a.

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

3.49%

1.69%

1.74%

2.0065

PAMI Horizon Fund, Inc. -a

3.74

0.93%

1.09%

0.52%

-0.67%

Philam Fund, Inc. -a

16.7389

1.02%

0.67%

0.51%

-0.63%

Solidaritas Fund, Inc. -a

2.106

2.87%

-0.68%

0.32%

-0.73%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6192 3.63%

-1.66%

-0.13%

-0.76%

Sun Life Prosperity Dynamic Fund, Inc. -a

-0.11%

0.46%

0.38%

0.9578

10.98%

1.67%

-0.51%

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

0.9743

-2.94% n.a. n.a.

-1.57%

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.9367

2.01% n.a. n.a.

-0.83%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.9249

2.79% n.a. n.a.

-0.96%

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

$0.03678

-5.84%

1.23%

0.9%

$1.0423

-14.02%

2.69%

2.68%

-2.32%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5127 -1.22%

7.14%

-6.03%

4.65%

3.58%

-3.95%

PAMI Asia Balanced Fund, Inc. -b

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1512 -3.08%

-3.06%

Bond Funds 374.53

0.84%

2.79%

2.5%

0.06%

ATRAM Corporate Bond Fund, Inc. -a

1.8865

-0.87%

0.28%

-0.01%

0.1%

Cocolife Fixed Income Fund, Inc. -a

3.2472

0.91%

2.87%

3.83%

0.1%

Ekklesia Mutual Fund Inc. -a

2.2482

-2.15%

1.61%

1.38%

-0.15%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4276 -0.93%

2.95%

1.84%

0.07%

Philam Bond Fund, Inc. -a

4.3958

-5.39%

4.14%

1.48%

Philam Managed Income Fund, Inc. -a

1.3215

-0.05%

3.74%

2.87%

0.18%

Philequity Peso Bond Fund, Inc. -a

3.9749

-0.26%

3.7%

2.64%

0.23%

Soldivo Bond Fund, Inc. -a

1.0281

-0.96%

4.19%

1.95%

-0.01%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1858

-0.51%

4.2%

3.18%

-0.05%

Sun Life Prosperity GS Fund, Inc. -a

-1.08%

3.39%

2.54%

-0.03%

1.7301

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

$488.43

0.73%

2.77%

2.43%

-0.23%

ALFM Euro Bond Fund, Inc. -a

Є219.25

-0.03%

0.88%

1.02%

-0.35%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1832

-7.96%

1.28%

1.38%

-1.72%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0257 -2.65%

1.06%

0.8%

-1.15%

PAMI Global Bond Fund, Inc -b

-1.57%

-1.17%

-2.87%

Philam Dollar Bond Fund, Inc. -a

$0.9934

-9.08%

$2.4383

-3.79%

3.51%

2.33%

-2.69%

$0.0620001

-0.72%

2.72%

1.86%

-0.47%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.0842 -4.26%

2.06%

1.11%

-3.5%

Philequity Dollar Income Fund Inc. -a

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

131.31

1.03%

2.64%

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

1.0589

0.97% n.a. n.a.

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3172

1.47%

2.5%

2.54% 2.52%

0.09% 0.11%

0.12%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.061

0.73%

1.39% n.a.

0.04%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

46.25 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3064

13.79% n.a. n.a.

-5.53%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

$0.93

-5.1% n.a. n.a.

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

c - Listed in the PSE.

PSE STOCK QUOTATIONS

January 31, 2022

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

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

44 134.5 98.1 25.4 9.36 58.85 8.83 17.72 20.4 56 20.4 107.2 100.6 1.85 4.05 2.85 0.8 931 209

44.5 135 98.45 25.45 9.37 58.9 9.19 18.48 20.5 57.7 20.45 108 100.8 1.92 4.11 3.03 0.83 990 210

44.1 134 98.95 25.45 9.37 57.8 9.2 18.48 20.4 57.7 20.35 106 98.05 1.85 4.02 2.91 0.8 930 210

44.1 136.8 98.95 25.55 9.39 59.25 9.2 18.48 20.55 57.7 20.4 110.5 102 1.98 4.1 2.91 0.83 960 210

44 133.1 98 25.45 9.36 57.8 9.2 18.48 20.3 57.7 20.35 106 98.05 1.85 4 2.85 0.8 930 208

44 135 98.1 25.45 9.37 58.9 9.2 18.48 20.5 57.7 20.4 107.2 100.6 1.92 4.1 2.85 0.83 960 210

21,700 3,398,050 1,705,620 95,000 207,000 4,874,670 500 600 174,700 2,360 54,800 2,370,090 112,670 713,000 416,000 20,000 20,000 30 720

954,950 458,633,957 167,826,383.50 2,422,360 1,939,537 287,136,751.50 4,600 11,088 3,564,050 136,172 1,115,360 256,323,557 11,295,197 1,374,930 1,682,550 57,680 16,390 28,500 150,734

INDUSTRIAL

-4.12%

d - in Net Asset Value per Unit (NAVPU).

1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021.

"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."

122,269,074 438,949 -1,112,910 -1,000,782 -8,963,817 103,570 7,491,390 19,873 19,200 -

AC ENERGY 9.52 9.54 9.51 9.54 9.48 9.54 17,856,400 169,808,039 ALSONS CONS 1.01 1.04 1.02 1.05 1.01 1.01 114,000 116,000 35.15 35.3 33.8 35.45 33.8 35.3 9,907,100 345,900,340 ABOITIZ POWER BASIC ENERGY 0.52 0.53 0.53 0.54 0.52 0.52 4,063,000 2,133,470 27.95 28 28.2 28.2 27.7 28 215,300 6,010,405 FIRST GEN 70 70.6 70.1 70.1 70 70 103,020 7,218,006.50 FIRST PHIL HLDG MERALCO 331.8 335 323 335 323 335 235,930 78,192,034 24.95 25 25 25.1 24.75 25 3,427,800 85,689,770 MANILA WATER PETRON 3.25 3.26 3.3 3.3 3.25 3.26 255,000 830,540 4.1 4.25 4.02 4.3 4.02 4.3 6,000 25,420 PETROENERGY PHX PETROLEUM 10.44 10.66 10.52 10.66 10.5 10.66 52,000 546,936 SYNERGY GRID 12.72 12.76 12.78 12.8 12.7 12.72 7,191,300 91,651,486 19 19.02 18.84 19.06 18.84 19.02 108,600 2,064,814 PILIPINAS SHELL SPC POWER 14.26 14.3 14.36 14.48 14.2 14.3 173,100 2,488,604 2.21 2.22 2.17 2.24 2.12 2.22 96,688,000 213,432,970 SOLAR PH 4.74 4.8 4.85 4.85 4.79 4.8 1,641,000 7,884,370 AGRINURTURE AXELUM 2.85 2.89 2.84 2.89 2.81 2.89 248,000 706,420 27.65 28.3 28 28.3 27.3 28.3 2,586,200 72,860,170 CENTURY FOOD DEL MONTE 15.3 15.4 15.2 15.48 15.2 15.3 7,700 117,398 8.48 8.5 8.54 8.58 8.45 8.5 3,246,100 27,590,037 DNL INDUS 23.7 23.75 22.3 24.05 22.3 23.75 2,910,200 67,667,775 EMPERADOR SMC FOODANDBEV 68.85 70 69.5 70 68.8 70 68,270 4,722,842.50 0.82 0.83 0.85 0.87 0.81 0.83 112,895,000 94,332,060 FIGARO COFFEE ALLIANCE SELECT 0.59 0.6 0.6 0.6 0.59 0.6 765,000 456,240 FRUITAS HLDG 1.22 1.24 1.18 1.24 1.17 1.24 37,737,000 45,786,180 115.5 116 115.9 118 112.5 116 6,110 707,615 GINEBRA JOLLIBEE 239.4 240 236.6 240 236 240 545,400 130,200,340 1.45 1.46 1.4 1.46 1.4 1.46 12,696,000 18,363,170 KEEPERS HLDG MAXS GROUP 6.7 6.72 6.51 6.75 6.51 6.7 371,500 2,482,472 MG HLDG 0.14 0.144 0.145 0.145 0.139 0.139 470,000 65,730 16.36 16.38 16.26 16.48 16.26 16.38 20,138,800 329,677,018 MONDE NISSIN SHAKEYS PIZZA 9.41 9.42 9.6 9.81 9.41 9.42 187,000 1,772,988 0.65 0.67 0.67 0.68 0.65 0.68 168,000 112,000 ROXAS AND CO RFM CORP 4.5 4.6 4.5 4.55 4.5 4.55 89,000 400,750 SWIFT FOODS 0.105 0.106 0.104 0.107 0.104 0.105 1,150,000 120,580 126.5 127 126 127.4 126 127 940,650 119,302,444 UNIV ROBINA VITARICH 0.67 0.68 0.68 0.71 0.66 0.68 1,534,000 1,035,550 2.4 2.5 2.41 2.41 2.4 2.4 5,000 12,040 VICTORIAS CEMEX HLDG 1.05 1.07 1.06 1.08 1.05 1.05 822,000 871,490 EAGLE CEMENT 14.12 14.24 14.5 14.5 14.12 14.12 85,100 1,203,334 6.2 6.25 6.18 6.27 6.18 6.25 80,700 498,836 EEI CORP HOLCIM 5.91 5.94 5.99 5.99 5.9 5.94 63,600 378,744 4.84 4.89 4.9 4.93 4.8 4.84 1,733,000 8,409,920 MEGAWIDE 20.7 20.95 20.8 20.95 20.8 20.95 2,400 49,935 PHINMA TKC METALS 0.77 0.8 0.8 0.8 0.8 0.8 4,000 3,200 0.82 0.83 0.86 0.86 0.82 0.82 2,852,000 2,391,860 VULCAN INDL CROWN ASIA 1.7 1.71 1.71 1.71 1.71 1.71 81,000 138,510 5.61 5.74 5.75 5.75 5.61 5.74 17,000 95,648 PRYCE CORP 20.3 21.15 20.2 20.2 20.2 20.2 500 10,100 CONCEPCION GREENERGY 1.89 1.9 1.95 1.95 1.84 1.9 3,350,000 6,422,690 10.4 10.46 10.2 10.5 9.97 10.4 2,011,900 20,713,795 INTEGRATED MICR IONICS 0.7 0.73 0.73 0.73 0.7 0.73 39,000 27,950 6.01 6.09 6 6.09 6 6.09 5,900 35,913 PANASONIC SFA SEMICON 1.1 1.12 1.1 1.12 1.08 1.1 180,000 195,580 CIRTEK HLDG 3.86 3.87 3.96 4.01 3.81 3.86 1,218,000 4,752,480

28,177,999 21,617,690 -520 -951,040 -49,771.00 29,266,578 54,348,585 -9,870 992,736 -1,382,840.00 22,880 749,330 57,270 -28,900 -56,031,850 -322,949 16,159,580 -2,231,156.50 104,360 -27,030 -188,124 -13,171,108 614,940 -31,161 -75,653,808 -1,291,908 49,950 148,500 44,720 -51,460,633 49,750 2,400 -2,594,090 -2,490 1,150 -254,230 4,431,518.00 -8,800 -453,250

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SEAFRONT RES TOP FRONTIER ZEUS HLDG

-9,100 30,938,470 72,966,081 -8,111,008 -12,217,990 447,175 -4,650,816.00 -4,537,910 44,531,248.50 -707,190 -8,670,585 -14,105,190 96,376,435 682,578 8,647 -

HOLDING & FRIMS

0.9 866.5 63 12.8 7.85 0.88 0.79 0.78 5.21 8.42 7.15 569.5 3.64 61.8 0.58 2.91 9.99 3.85 2.9 1.13 1.07 949 111.3 2.15 123.6 0.17

0.91 870 63.5 12.84 8.2 0.89 0.8 0.79 5.24 8.47 7.4 570 3.7 62.5 0.6 2.99 10 3.87 2.99 1.14 1.15 950 112.5 2.38 124.9 0.175

0.9 857 63.1 12.8 7.8 0.89 0.8 0.79 5.12 8.23 7.15 560 3.7 60.4 0.63 2.94 9.91 3.8 2.83 1.15 1.07 942 112.5 2.39 123.6 0.175

0.92 870 65.15 12.9 8.22 0.89 0.86 0.84 5.26 8.48 7.39 572.5 3.88 62.5 0.63 2.94 10.04 3.88 2.99 1.15 1.16 953 112.5 2.39 125 0.175

0.89 857 62.6 12.78 7.8 0.88 0.78 0.78 5.12 8.23 7.12 558 3.7 60 0.58 2.91 9.91 3.8 2.83 1.13 1.07 940.5 110.5 2.39 123.5 0.17

0.92 870 63 12.8 8.2 0.88 0.79 0.78 5.24 8.47 7.39 570 3.7 62.5 0.6 2.91 10 3.85 2.99 1.13 1.16 949 112.5 2.39 125 0.17

1,827,000 211,450 2,401,560 1,122,100 4,800 25,000 120,398,000 22,954,000 695,800 4,290,100 50,000 187,790 83,000 2,436,800 58,000 246,000 2,016,800 10,170,000 7,000 127,000 8,000 259,840 114,280 1,000 400 190,000

1,650,050 182,874,280 152,550,647.50 14,392,888 38,292 22,100 98,608,510 18,590,230 3,622,504 36,178,368 364,411 106,905,205 313,880 151,325,290.50 34,560 716,010 20,152,022 39,207,890 19,970 145,320 8,650 246,621,035 12,767,124 2,390 49,477 32,400

PROPERTY

ARTHALAND CORP 0.61 0.62 0.61 0.62 0.61 0.62 23,000 14,140 AYALA LAND 35.85 35.9 34.7 35.9 34.65 35.9 10,307,500 366,879,665 5.88 5.9 5.88 5.97 5.88 5.9 1,588,000 9,396,756 AYALA LAND LOG AREIT RT 50.65 50.9 51.1 51.35 50.65 50.65 651,370 33,320,843.50 0.74 0.76 0.75 0.76 0.74 0.76 87,000 64,920 A BROWN CITYLAND DEVT 0.74 0.75 0.74 0.75 0.74 0.75 60,000 44,940 CROWN EQUITIES 0.101 0.104 0.101 0.104 0.101 0.104 240,000 24,300 2.9 2.91 2.9 2.91 2.9 2.91 306,000 888,130 CEB LANDMASTERS CENTURY PROP 0.405 0.41 0.41 0.41 0.405 0.41 5,150,000 2,093,200 6.98 6.99 7.01 7.02 6.99 6.99 1,082,600 7,586,409 DOUBLEDRAGON 1.78 1.79 1.79 1.8 1.78 1.79 3,621,000 6,478,920 DDMP RT DM WENCESLAO 6.8 6.85 6.77 6.85 6.2 6.85 6,900,900 45,018,741 0.25 0.26 0.26 0.26 0.26 0.26 40,000 10,400 EMPIRE EAST EVER GOTESCO 0.34 0.345 0.345 0.365 0.345 0.345 36,050,000 12,721,050 7.6 7.61 7.58 7.63 7.58 7.61 1,399,200 10,638,853 FILINVEST RT FILINVEST LAND 1.08 1.09 1.09 1.09 1.08 1.09 2,948,000 3,209,060 GLOBAL ESTATE 0.94 0.96 0.94 0.95 0.94 0.95 297,000 279,280 10.76 11.02 11 11.24 10.32 11.04 478,400 5,225,608 8990 HLDG GOLDEN MV 521 540 540 540 540 540 10 5,400 1.06 1.07 1.07 1.08 1.06 1.06 727,000 772,120 PHIL INFRADEV 0.86 0.87 0.85 0.86 0.85 0.86 35,000 29,800 CITY AND LAND MEGAWORLD 3.09 3.11 3.1 3.16 3.09 3.09 17,220,000 53,576,170 0.25 0.255 0.255 0.265 0.25 0.25 6,330,000 1,636,200 MRC ALLIED MREIT RT 22.45 22.5 22.8 23 22.4 22.5 2,070,500 46,892,280 OMICO CORP 0.345 0.355 0.355 0.355 0.355 0.355 10,000 3,550 0.47 0.48 0.48 0.48 0.47 0.47 2,680,000 1,271,250 PHIL ESTATES PRIMEX CORP 2.1 2.12 2.02 2.12 2.02 2.12 1,730,000 3,561,460 8.35 8.4 8.65 8.67 8.31 8.4 7,419,600 62,776,371 RL COMM RT ROBINSONS LAND 18.24 18.3 18 18.36 18 18.3 2,112,900 38,566,780 PHIL REALTY 0.205 0.207 0.19 0.21 0.19 0.21 930,000 190,460 1.47 1.5 1.49 1.5 1.47 1.5 8,000 11,900 ROCKWELL SHANG PROP 2.55 2.59 2.59 2.59 2.54 2.59 195,000 499,190 2.8 2.85 2.66 2.89 2.66 2.89 7,000 18,850 STA LUCIA LAND SM PRIME HLDG 35.1 35.2 34.3 35.5 34.3 35.1 8,127,000 285,606,815 SOC RESOURCES 0.57 0.6 0.58 0.58 0.57 0.57 39,000 22,570 3.6 3.65 3.78 3.78 3.6 3.6 197,000 716,470 VISTAMALLS VISTA LAND 3.46 3.48 3.45 3.5 3.43 3.48 680,000 2,345,120 SERVICES ABS CBN 11.34 11.36 11.4 11.42 11.06 11.34 445,000 5,013,642 GMA NETWORK 14.7 14.72 14.6 14.72 14.6 14.7 407,700 5,972,082 0.42 0.435 0.43 0.44 0.42 0.44 310,000 132,350 MANILA BULLETIN MLA BRDCASTING 9.1 9.76 9.02 9.02 9.01 9.01 1,000 9,019 3,110 3,140 3,240 3,264 3,110 3,110 143,615 457,943,750 GLOBE TELECOM 1,834 1,852 1,850 1,869 1,834 1,834 111,305 206,023,650 PLDT APOLLO GLOBAL 0.071 0.072 0.073 0.073 0.071 0.072 287,630,000 20,545,220 30.6 30.65 30.5 30.8 30.45 30.65 3,626,300 111,097,035 CONVERGE DFNN INC 2.46 2.47 2.38 2.46 2.33 2.46 872,000 2,126,780 1.4 1.49 1.4 1.4 1.4 1.4 3,000 4,200 IMPERIAL NOW CORP 1.25 1.26 1.26 1.27 1.25 1.26 1,066,000 1,338,330 TRANSPACIFIC BR 0.37 0.375 0.375 0.39 0.375 0.375 10,410,000 3,964,950 7.41 7.5 7.5 7.6 7.41 7.41 14,800 110,291 2GO GROUP ASIAN TERMINALS 13.92 14 14 14 14 14 500 7,000 1.61 1.62 1.63 1.63 1.61 1.62 5,431,000 8,795,290 CHELSEA CEBU AIR 44.95 45 43.7 45.05 43.7 45 875,200 39,054,145 INTL CONTAINER 199.9 200 198 202 198 200 1,337,330 267,885,221 23.85 24.65 24.65 24.65 23.8 23.8 2,200 53,485 LBC EXPRESS MACROASIA 5.4 5.41 5.17 5.47 5.17 5.4 2,180,100 11,770,333 1.02 1.09 1.02 1.02 1.02 1.02 31,000 31,620 METROALLIANCE A ACESITE HOTEL 1.5 1.58 1.52 1.52 1.5 1.5 8,000 12,100 DISCOVERY WORLD 1.75 1.79 1.75 1.78 1.75 1.78 40,000 70,450 0.47 0.49 0.465 0.465 0.465 0.465 90,000 41,850 WATERFRONT CENTRO ESCOLAR 6.51 6.89 6.51 6.51 6.51 6.51 500 3,255 IPEOPLE 6.81 7.49 6.79 7.5 6.79 7.49 2,600 18,085 0.33 0.335 0.335 0.335 0.335 0.335 100,000 33,500 STI HLDG BELLE CORP 1.32 1.35 1.32 1.35 1.32 1.35 68,000 89,960 6.26 6.27 6.22 6.39 6.22 6.27 4,901,200 30,913,612 BLOOMBERRY LEISURE AND RES 1.4 1.41 1.39 1.42 1.39 1.4 554,000 779,800 MJC INVESTMENTS 1.15 1.19 1.11 1.11 1.11 1.11 1,000 1,110 0.74 0.76 0.77 0.78 0.74 0.74 5,904,000 4,432,580 PH RESORTS GRP PREMIUM LEISURE 0.45 0.455 0.455 0.455 0.45 0.45 1,550,000 699,350 1.94 1.96 1.95 1.96 1.93 1.96 250,000 485,760 PHILWEB ALLDAY 0.58 0.59 0.58 0.59 0.58 0.59 31,826,000 18,664,180 BERJAYA 5.59 5.95 5.6 5.98 5.52 5.59 35,000 195,615 8.52 8.65 8.61 8.72 8.5 8.52 4,967,800 42,637,297 ALLHOME METRO RETAIL 1.37 1.38 1.37 1.38 1.37 1.37 320,000 438,600 37.1 37.15 36.55 37.4 36.55 37.1 990,100 36,795,955 PUREGOLD ROBINSONS RTL 56.4 56.55 57.95 58.25 55.7 56.4 2,872,430 161,892,168.50 PHIL SEVEN CORP 86 88 88 88 88 88 90 7,920 1.08 1.09 1.08 1.1 1.08 1.09 1,074,000 1,163,870 SSI GROUP WILCON DEPOT 29.9 30 29.75 30 28.9 30 1,462,100 43,582,985 0.225 0.237 0.222 0.239 0.222 0.237 1,310,000 299,230 APC GROUP EASYCALL 3.99 4 3.98 3.98 3.98 3.98 3,000 11,940 IPM HLDG 6.95 7 7 7 7 7 1,200 8,400 1 1.01 1.04 1.04 1 1.01 6,657,000 6,755,620 MEDILINES PRMIERE HORIZON 0.56 0.57 0.57 0.59 0.55 0.57 10,854,000 6,095,150 MINING & OIL

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

www.businessmirror.com.ph

ATOK 5.95 6.13 6.15 6.15 5.94 6.13 60,900 367,619 1.66 1.67 1.72 1.76 1.65 1.66 13,274,000 22,390,650 APEX MINING ATLAS MINING 6 6.02 6.02 6.03 5.95 6 945,500 5,663,419 5.06 5.37 5.06 5.06 5.06 5.06 7,100 35,926 BENGUET A CENTURY PEAK 2.7 2.72 2.72 2.72 2.72 2.72 30,000 81,600 DIZON MINES 5.01 5.47 5.05 5.05 5.01 5.01 1,800 9,078 2.14 2.16 2.11 2.19 2.11 2.16 2,319,000 4,984,710 FERRONICKEL GEOGRACE 0.19 0.21 0.189 0.208 0.189 0.208 460,000 93,210 0.136 0.138 0.135 0.138 0.135 0.138 5,020,000 683,120 LEPANTO A LEPANTO B 0.137 0.141 0.136 0.136 0.136 0.136 520,000 70,720 MANILA MINING A 0.0095 0.0098 0.0095 0.0097 0.0095 0.0095 14,000,000 133,700 1.45 1.46 1.4 1.48 1.38 1.45 695,000 994,270 MARCVENTURES NIHAO 0.9 0.93 0.93 0.93 0.93 0.93 1,000 930 5.86 5.88 5.86 5.97 5.83 5.88 9,438,100 55,592,339 NICKEL ASIA 0.82 0.83 0.83 0.83 0.82 0.82 134,000 110,220 ORNTL PENINSULA PX MINING 5.27 5.31 5.25 5.36 5.25 5.27 973,400 5,158,263 25.05 25.15 24.5 25.5 24.5 25.05 4,286,000 107,845,425 SEMIRARA MINING UNITED PARAGON 0.0069 0.0072 0.0069 0.0071 0.0068 0.0071 21,000,000 145,000 31 31.2 30.5 31.55 30.2 31.2 404,800 12,393,920 ACE ENEXOR 0.012 0.013 0.013 0.013 0.012 0.012 95,800,000 1,163,900 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 300,000 3,600 0.0091 0.0093 0.0092 0.0092 0.0091 0.0092 20,000,000 183,400 PHILODRILL PXP ENERGY 5.95 6 5.91 6 5.91 5.95 146,400 872,506 PREFFERED HOUSE PREF B 99.5 101 101 101 101 101 40 4,040 ALCO PREF D 512 524 512 512 512 512 200 102,400 103.5 104 104 104 104 104 1,100 114,400 BRN PREF A CEB PREF 43.5 43.55 42 43.55 42 43.5 176,100 7,658,805 100.4 103 102.5 103 101 103 35,870 3,624,225 CPG PREF A EEI PREF A 105.1 105.2 105.1 105.1 105.1 105.1 10,840 1,139,284 EEI PREF B 107.8 108 107.8 108 107.8 108 31,880 3,436,764 104.5 105 104.4 105.2 104.4 104.5 6,400 668,779 FGEN PREF G GTCAP PREF B 1,013 1,043 1,020 1,020 1,012 1,012 570 577,920 1,000 1,010 1,001 1,001 1,001 1,001 50 50,050 JFC PREF A 1,002 1,004 1,002 1,002 1,002 1,002 100 100,200 JFC PREF B MWIDE PREF 2B 100 101 101 101 101 101 1,170 118,170 99.2 100 100 100 100 100 10,070 1,007,000 MWIDE PREF 4 PNX PREF 3B 102.5 103 103.1 103.1 103 103 360 37,093 995.5 1,000 1,000 1,000 995.5 995.5 6,860 6,834,045 PNX PREF 4 PCOR PREF 3A 1,048 1,060 1,060 1,060 1,048 1,048 2,070 2,188,740 PCOR PREF 3B 1,052 1,125 1,088 1,110 1,050 1,052 7,720 8,160,665 1.43 1.9 1.98 1.98 1.98 1.98 1,000 1,980 SFI PREF SMC PREF 2F 79.3 79.7 79.3 79.3 79.25 79.25 20,000 1,585,625 75.8 76.6 76.2 76.2 75.8 75.8 10,000 758,044 SMC PREF 2H SMC PREF 2I 79.4 79.6 79.3 79.3 79.3 79.3 500 39,650 SMC PREF 2J 76.5 77 76.5 76.5 76.5 76.5 447,760 34,253,640 76.05 76.4 76 76.05 76 76.05 550 41,815 SMC PREF 2K TECH PREF B2D 53 53.7 53.7 53.7 53.1 53.1 5,320 282,552 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 10.9 11 11 11 10.98 10.98 7,100 78,076 GMA HLDG PDR 13.92 13.96 13.94 13.96 13.62 13.96 61,700 857,246 WARRANTS TECH WARRANT 0.91 0.96 0.97 0.98 0.92 0.96 896,000 847,550

70,082,135 -106,816 -6,211,730.50 14,940 -29,010 -36,450 -670,634 279,240 -437,350.00 -1,707,400 -191,908 -636,790 1,078,080 -21,694,400 -9,600 -9,408,489 -13,509,632.00 1,900 30,840 108,010,450 8,700 -111,240,880 8,692,040 440,010 -33,167,095 41,930 44,100 -15,450 12,463,085 -43,043,115 -774,567 33,500 -3,686,513 278,330 106,880 450,000 -103,610.00 -1,449,457 -13,700 -6,274,945.00 -42,411,302.50 -7,920 -420,490 17,716,980 -10,760 19,040 192,630 127,170 81,600 233,340 4,991,734 -82,000 -1,723,012 -12,653,915 106,740 -1,200 496,825 -102,400 -4,023,745 40,040 -100,200 -137,800 -211,140 5,370 16,502 -272.0002 -960

SMALL & MEDIUM ENTERPRISES ALTUS PROP HAUS TALK ITALPINAS MERRYMART XURPAS

17.9 1.24 1.02 1.82 0.46

18.66 1.25 1.05 1.83 0.465

EXHANGE TRADE FUNDS

FIRST METRO ETF

111.8

111.9

17.74 1.27 1.02 1.86 0.43

18.66 1.28 1.05 1.94 0.495

17.74 1.23 1 1.81 0.43

18.66 1.25 1.05 1.83 0.465

11,800 6,005,000 652,000 5,368,000 18,090,000

209,676 7,502,670 660,920 10,098,120 8,634,450

-266,530 3,060 927,670 -111,000

111 111.8 111 111.8 16,400 1,826,376 265,456

www.businessmirror.com.ph

Banking&Finance

Group asks govt to give incentives to EE projects By Lenie Lectura

@llectura

ONPROFIT group Philippine Energy Efficiency Alliance (PE2) urged the Department of Energy (DOE) to endorse energy efficiency (EE) projects to the Bureau of Investment (BOI) for incentives. The group told the agency to make all EE projects, strategic or otherwise, eligible for Tier III fiscal incentives as provided under Republic Act (RA) 11534, otherwise known as the Corporate Recovery and Tax Incentives for Enterprises (Create) Act. “PE2 hopes that DOE can still support our push before the BOI and the FIRB [Fiscal Incentives Review Board] for a universal Tier III classification of all EE projects, whether strategic or not,” PE2 President Alexander D. Ablaza said. “Otherwise, if there is a short-term need to define strategic EE for Tier III classification, PE2 believes that the value addition should not be technology-based; for technologies are rapidly evolving and cannot be captured by a static eligibility list.” Ablaza, who is also president and CEO of Climargy Inc., further explained that “several innovative technologies do not necessarily deliver dependable energy savings.” “Instead, we hope the DOE bases its endorsement of strategic EE on energy savings impacts, such as meeting the threshold of 25-percent energy savings measured at project boundary,” Ablaza said. He raised PE2’s position during the second public consultation of the DOE on the agency’s draft circular on the guidelines for endorsement of EE strategic investments to the BOI for fiscal incentives. Ablaza suggested that the clause in the circular excluding EE retrofitting and upgrading projects be re-

moved as a qualification of strategic EE projects. However, a DOE official explained that retrofitting projects are already covered in the previously approved DOE circular for endorsement guidelines for non-strategic EE projects. The DOE also said that PE2’s comment to reword Clause 3.3, specifically to ensure that the definition of “project proponent” be based on the legal entity that is raising the bulk of upfront project capital and exposed to investment risks, will remain open for discussion. In response to Ablaza’s recommendation that qualifications for strategic EE projects not be technology-based, the DOE said it doesn’t intend to define or qualify strategic EE investments based on the type of innovative technology adopted. Ablaza earlier said that the supposedly repealed Article 17 of Executive Order (EO) 226, which grants “pioneer” status to projects with technological innovation was not effective in attracting new EE incentives under the pre-Create Act policy framework. The DOE, likewise, assured PE2 and other stakeholders that they will maintain open for discussion PE2’s suggestion for the draft DC to set guidelines for the endorsement of EE projects to other investment promotion agencies (IPAs), especially the Philippine Economic Zone Authority (Peza). Ablaza cited that while R A 11285 specifically mentions the BOI’s role in the granting of fiscal incentives and since the BOI coverage doesn’t cover jurisdictions of other IPAs, the DOE and the BOI should make it clear through respective guidelines how EE projects situated in the other IPA jurisdictions (e.g. PEZA zones) should be granted fiscal incentives.

Security Bank advisory for Feb. 1

ECURITY Bank Corp. is advising its clients that all its branches nationwide will be closed on February 1, in observance of Chinese New Year per Malacañang Proclamation 1236. The lender advises clients to call its customer service hotline if assistance is needed during the day. Clients may also visit Security Bank’s Facebook account or send an e-mail to customercontact@securitybank.com.ph or customercare@securitybank.com.ph.

GSIS to give educational subsidy to members’ kin

HE Government Service Insurance System (GSIS) will release a total of P100 million to 10,000 kin of GSIS members to augment their college education expenses through the GSIS educational subsidy program (GESP) for academic year (AY) 2021 to 2022. Each college student will receive P10,000, according to GSIS President and General Manager Rolando L. Macasaet. “Malaking ginhawa ang hatid ng P10,000 na educational subsidy para sa ating mga miyembrong may anak o legal dependents na nasa kolehiyo, lalo pa ngayon na nasa gitna tayo ng pandemya. Mula sa 15,770 qualified applicants, pumili tayo ng 10,000 grantees na pinakanangangailangang makatanggap ng educational assistance para sa pag-aaral ng kanilang kaanak,” Macasaet was quoted in a statement as saying. [The subsidy brings great relief for our members with children or legal dependents who are in college, especially now that we are in the midst of a pandemic. From 15,770 qualified applicants, we selected 10,000 grantees most in need of receiving educational assistance for their relative’s education.] Out of nearly 17,300 received applications nationwide, the grantees for AY 2021-2022 were selected from different regions across the country, according to the GSIS. These grantees were: 1,581 from the National Capital Region (15.81 percent); 1,994 from North Luzon (19.94 percent); 2,093 from South Luzon (20.93 percent); 2,078 from Visayas (20.78 percent);

and, 2,254 from Mindanao (22.54 percent). The grantees will receive the subsidy after submitting the requirements to GSIS. New grantees must submit the duly-signed and notarized GESP agreement, the information sheet with two copies of the student’s latest 2x2 ID pictures and a Land Bank of the Philippines account number. These requirements must be submitted to the nearest GSIS office within 60 calendar days from the publication of the list of qualified students in the GSIS website or official social media account. The list of qualified grantees for 2021-2022 may be viewed through https://www.gsis.gov.ph/gsis-educational-subsidy-program-granteesay-2021-2022/. A student-grantee may shift course or transfer to any CHED-registered school provided that the course is completed within the duration of the original course. Additionally, a written notice for the shift of course or transfer of school must be submitted to the Corporate Social Advocacies and Public Relations Facilities Department Manager, GSIS Pasay City. The subsidy is non-transferable. Member-recipients and grantees who have inquiries on GESP may visit the GSIS web site (www.gsis.gov.ph) or GSIS Facebook account (@gsis.ph), email gsiscares@gsis.gov.ph, or call the GSIS Contact Center at 8847-4747 (if in Metro Manila) or 1-800-8-847-4747 (for Globe and TM subscribers) and 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N Text subscribers).

BusinessMirror

Editor: Dennis D. Estopace • Tuesday, February 1, 2022

Expectations Jan inflation low push down bid rates for T-bills

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of the Treasury sold P15 billion in Treasury Bills (Tbills) on Monday as bid rates declined on the back of expectations of a slower inflation rate for January.

Average rates across all tenors of T-bills fell when compared to the previous auction results as well as secondary benchmark rates. Total bids submitted reached P59.8 billion, making the auction almost four times over-subscribed. National Treasurer Rosalia V. De Leon told reporters they observed

“strong buying interest” in the Tbills auction. “Bids declined with inflation further decelerating to 3 percent according to survey,” De Leon said in a message. The government’s economic team had set a 2-percent to 4-percent inflation target for this year until 2024.

The Bangko Sentral ng Pilipinas earlier expressed optimism that inflation for this year will settle within target. Monetary authorities noted this outlook is subject to considerable level of uncertainty given the health crises, which may affect local and international economic conditions. The Philippine Statistics Authority will release the January inflation report on February 4. The PSA earlier said it will be rebasing the consumer price index to base year 2018 from base year 2012. On Monday’s auction, the 91-day T-bills’ rate averaged 0.691 percent, down by 0.2 basis points from the previous auction’s 0.693 percent. Tenders for the security amounted to P17.2 billion, more than thrice the P5-billion offering.

Meanwhile, the 182-day T-bills posted an average rate of 1.023 percent, dropping by 5.4 basis points from 1.077 percent. Bids for the debt paper stood at P24 billion, nearly five-times the P5-billion offering. As for the 364-day T-bills, the average rate capped at 1.408 percent, contracting by 0.2 basis points from 1.410 percent. The security attracted P18.57 billion in tenders, more than thrice the P5-billion offering. For this month, the Treasury programmed to borrow a total of P200 billion from the local debt market, the same level it aimed to raise in January. For 2022, the national government programmed to borrow P2.47 trillion, down by nearly a fifth from P3.07 trillion in 2021.

BPI reports double-digit increase in income for 2021

ANK of the Philippine Islands (BPI) reported a double-digit increase in its income for 2021 following the bank’s strong growth in the last three months of the year. BPI said its net income for the full year of 2021 hit P23.88 billion, up 11.5 percent from the previous year on the back of lower provisions and record-high fee income. The bank’s net income for the fourth quarter of the year hit P6.4 billion,

51.2-percent higher than the same period last year. For the year 2021, the bank’s total revenues declined by 4.2 percent percent to P97.40 billion. In particular, net interest income stood at P69.58 billion, lower by 3.7 percent compared to the previous year. BPI’s non-interest income, meanwhile, declined by 5.5 percent to P27.82 billion due to lower trading income. This was, however, tempered by a 23.2-percent boost in

Penalties await late SSS payments due Jan. 31

urora C. Ignacio, president and CEO of the Social Security System (SSS), said penalties await employers and members for late payment for the December 2021 contributions of regular employers and the October to December 2021 contributions of household employers, self-employed, voluntary, non-working spouse (SE/V/NWS) members and land-based Overseas Filipino Worker (OFW) members. Ignacio also issued a reminder for individual members to not miss their contribution payments through a statement issued last January 31, the deadline of payment for these obligations. The payment of contributions is one of the requirements for members to avail of social security benefit programs such as sickness, maternity, unemployment, retirement, disability, death and funeral, as well as loan privileges. “During this period of uncertainty, SSS remains to be one of the most trusted government institutions that helps private sector workers against the adverse effects of the pandemic,” Ignacio was quoted in the statement as saying. “In times of contingencies such as sickness or unemployment, they can get financial assistance from the SSS.” The payment schedule follows SSS Circular 2019-012, which stated that the deadline of remittance of regular employers is every last day of the month following the applicable month, while for household employers and SE/V/ NWS members, it is every last day of the month following the applicable month or calendar quarter, as the case may be. Land-based OFW members can pay their contributions for the applicable months of January to September of a given year until December 31 of the same year, according to the SSS. For the applicable months of October to December of a given year, they are allowed to pay until January 31 of the succeeding year.

Moreover, if the deadline falls on a Saturday, Sunday, or holiday, payments will still be accepted on the next working day. For example, contributions of regular employers for their employees for the applicable month of January 2022 can be paid until February 28, 2022. Household employers and SE/V/NWS members, on the other hand, may pay their January, February and March 2022 contributions until May 2, 2022, since April 30 and May 1, 2022, both fall on a weekend. “With the rise in Covid-19 cases, we continue to encourage our members and employers to use our online and alternative payment channels to pay their SSS contributions for their safety and convenience,” Ignacio said. One option for SE/V/NWS and OFW members to pay their SS contributions online is through the SSS Mobile App, where they can use their PayMaya Account, GCash Account, Credit/Debit Card or Bank of the Philippine Islands Account. Information about SSS online and alternative payment channels can be found in the Knowledgebase Section of the “uSSSap Tayo” portal at https://crms.sss.gov.ph. Furthermore, members who are paying contributions under monthly salary credits (MSCs) in excess of P20,000 up to the prescribed maximum MSC are automatically covered and contributing under the Workers’ Investment and Savings Program (WISP). It is a safe, convenient, principal-protected, and tax-free individual retirement savings plan launched last January 2021. Members with contributions under the WISP will receive additional benefits, as their WISP benefit will be automatically processed when they or their beneficiary/ies file/s for their Retirement, Total Disability, and/or Death Benefits. For more information, follow “Philippine Social Security SystemSSS” on Facebook, “mysssph” on Instagram or YouTube, “PHLSSS” on Twitter or join the SSS’ Viber Community at “MYSSSPH Updates.”

fee income, with the performance rebound in most business lines surpassing 2019 levels. Total operating expenses for the year reached P50.73 billion, up 5.4 percent on the back of higher technology cost. The bank booked provisions of P13.13 billion, 53.1 percent lower compared to the P28 billion recorded last year. Its non-performing loan (NPL) ratio was at 2.49 percent, with NPL coverage ratio at 136.1 percent.

Total loans ended at P1.48 trillion, a 4.9 percent increase year-on-year, due to higher mortgage, credit card, and microfinance loans. The bank’s total deposits also increased in 2021 by 13.9 percent to P1.96 trillion. The bank also remains adequately capitalized, with an indicative Common Equity Tier 1 Ratio of 15.8 percent and a Capital Adequacy Ratio of 16.7 percent; both above regulatory requirements. Bianca Cuaresma

Where to save and invest P10,000

E live in an imperfect world. Resources like land, labor, capital and entrepreneurship are finite. We manage the cards we are dealt with. Choices have to be made to make what we need and what we want in life aligned with what we have. With respect to managing personal finance, money has to be allocated well. The principle applies to large or small amounts of money. Within the context of the Philippines, the good news is that there are available alternatives where an amount like P10,000 can be allocated. One good option is to save the P10,000 in a bank account. Saving is the first step in attaining financial security and financial freedom. Having a long-term mindset in life leads to the importance of saving as it helps support future goals and plans. One special type of saving is in the form of the emergency fund. By maintaining an emergency fund equal to 6 months or 12 months of one’s monthly lifestyle expenses, one will be prepared to handle adverse fortuitous events like a pandemic, natural calamities and recession. The P10,000 can be used to settle debt. Living beyond means can lead to reliance on debt. Lack of saving can trigger the need for debt. Having high amounts of debt can lead to a lot of stress. There are popular approaches in settling debt. One approach is the debt avalanche approach. This proposes that the priority of payment will be given to loans with higher interest rates. Another approach is the debt snowball approach. This proposes that the order of loan settlement will start with the small loans. Saving is important but it is not enough given the possibility of rising prices over time. We also need to invest. One type of investment would be pooled funds. Examples of pooled funds are mutual funds and unit investment trust funds. These are managed by professional managers and are for those who have busy schedules. In selecting the right pooled fund, a review of past performance and current performance would be recommended. One has to be cognizant of the fees and other costs to project the net returns. The P10,000 can be directly invested in the Philippine stock market. There is still a big opportunity for more Filipinos to participate in the stock

Genesis Kelly S. Lontoc

personal finance market. Knowledge of fundamental analysis through information generated from the financial statements, market studies and business plans will be beneficial in selecting stocks. Knowledge of technical analysis can also help in forecasting earnings. In building the portfolio of stocks, good diversification with a mix of both established and new stocks can aid in maximizing returns. One special type of stock would be the Real Estate Investment Trust, more popularly known as REIT. Many real estate investments may not be affordable due to large amounts of money needed. REITs help democratize participation through smaller amounts of investment. Not all REITs are the same. In selecting a REIT, one must consider various factors like the reputation, financial performance, track record, future plans, locations, land bank and management teams of the companies offering the REITs. The P10,000 can also be invested in the Pag-Ibig MP2. This is a special savings facility with a 5-year maturity period for Pag-Ibig members. In 2020, the MP2 Savings Dividend Rate was at 6.12 percent. Some of the key benefits of Pag-Ibig MP2 would be ease of application, low minimum amount to participate, tax-free dividends and backing of the Philippine government in terms of savings. The things to consider though are the liquidity challenges given the 5-year maturity and also the possible volatility in periodic returns. Choices in life either make or break the type of financial future we will have. We have to make prudent choices in order to manage well our scarce resources like money and time. Utilizing the P10,000 for strategic purposes can set the stage toward greater financial literacy and eventually financial freedom. Genesis Kelly “Gemmy” Lontoc is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 94th RFP program this March 2022. To inquire, e-mail info@rfp.ph or text at 0917-6248110.

Art

BusinessMirror

Tuesday, February 1, 2022 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

One breaks to escape, the other to create ❶

Mickey’s Balloons, Rishab Tibon

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Harry Styles, 28; Ronda Rousey, 35; Big Boi, 47; Michael C. Hall, 51. Happy Birthday: A direct approach to whatever you take on will help you reach your goal. Stay on course, regardless of temptation or what others decide to do. Control your emotions, and designate more time to research and preparation. Look at the facts before you take what others say into consideration. Base your decisions on what you know and what you can do. Your numbers are 5, 16, 21, 26, 29, 37, 41.

❷ The Process,

ARIES (March 21-April 19): Listen, assess and formulate what you must do to reach your target. Call on someone you know you can rely on, and it will verify that you are on the right track and put your mind at ease. HHHHH

Gabo Valenzuela

loaded juxtaposition between two oneartist exhibitions is on view until February 19 at Art Elaan. Self-taught visual artist Rishab Tibon conjures a world of his creation, escaping absolute truths and retreating to a set of his own in Alternative Reality. Opposite it is a presentation about fusing components to create a new one altogether in Golden Joinery (Kintsugi) by cubist/realist painter Gabo Valenzuela. Tibon is an interdisciplinary artist born in Aklan in 1960. His works characterized by vibrant energy and surreal elements have been showcased around the country and all over the world, including at the Symphonie De Couleurs in Venice, Italy, in 2019. In his latest solo exhibition, the artist reaches deep into his subconscious to cull stories that create a different world, a substitute realm. Tibon presents “the alternative world of artistic aesthetics.” We see in Mickey’s Balloons, for example, a pimped-up version of the signature character

TAURUS (April 20-May 20): Indecisiveness will cause confusion, and mistakes will occur if you can't differentiate between what you want and what you can have. Dissect the information you receive, and verify facts. Reality and practicality trump winging it. HH

➋ ❶ Disney character wearing a Banksy Flower Thrower shirt and a gold dollar sign necklace. The subject also holds like balloons the Pokémon Piplup on one hand, and a KAWS skull on the other. The amalgamation of icons and ideas is Tibon’s way of inviting viewers to reflect on their own stories and escape to their alternate realities. Meanwhile, if Tibon breaks away in his show, Gabo Valenzuela breaks down artistic styles and mends them to create something entirely new. The 28-year-old cites the likes of Pablo Picasso, Vincent Van Gogh and Ronald Ventura as his artistic inspirations. The confession shows in his style and this show, Golden Joinery (Kintsugi), which combines the sharp dimensions of cubism with the

realistic renditions of pop culture icons. In It’s Bean a While, featuring the famous character Mr. Bean, half of the taciturn comedian’s face bulges out in live-action texture and details, while the other half peaks as the cartoon version, looking in the opposite direction. All the while his body contours in edges, directed by knifing lines that slice through the head of his trusted companion, Teddy. More of the same can be seen in Angry Dead, with Homer Simpson choking his son Bart, rattling through dimensions; and in Best Friend, where Sylvester takes his chase of Tweety Bird to another level—perhaps another plane? More information about these ongoing exhibitions is available on Art Elaan’s social-media pages, and via 027-7286577 or inquiry.artelaan@ gmail.com.

Philippine National Artist ancestral home explored by student-artist The legacy of Philippine National Artist for Architecture Pablo S. Antonio continues to be preserved by his descendants, led by great-grandson Joshua Barrera. The young artist grew up being exposed to coloring, sketching, fashion and travel, which enabled him to appreciate various arts and cultures, heritages and landscapes. “This aspect of my childhood further fueled my creativity and constant excitement to immerse myself in new environments,” he shared. Thus, for his collegiate thesis at the De La Salle-College of Saint Benilde, he opted to scan and scrutinize the home of his great-grandfather, the Pablo S. Antonio Residence in Pasay City. “My interest in architectural heritage in particular was not only because of my great-grandfather’s built legacies, but also due to my love to visit and learn about them. For example, Casa Gorordo in Cebu and the Syquia Mansion in Vigan are two of my favorite heritage houses in the country. Their digital marketing through web sites sparked my thesis project—where I could apply this promotional and curatorial strategy to uplift a home dear to me and my family,” he continued. The thesis, titled “Pablo S. Antonio’s House of Dreamers,” is a curatorial study on the significance, narratives and aesthetic features of his great-grandfather’s home. “I began collecting photographs and dwelling on archives, as well as well-kept stories through a series of interviews with family members and heritage professionals to better understand the importance of this home in relation to Philippine architecture and modern living,” he narrated. According to Barrera, these stories have not been discussed nor mentioned to a broader Filipino audience. “One insight revealed to me how the home inspired the designs of the exclusive Manila Polo Club and the very first houses in Forbes Park—which Pablo S. Antonio also designed.” Today, he is the curator of the said property. “Curating

GEMINI (May 21-June 20): Stay on track and forge ahead. Ignore what others do or say so you don't fall behind. Simplify your life and stick to the path that leads to the highest rewards. You stand to prosper if you are dedicated and innovative. HHHHH

CANCER (June 21-July 22): You'll have some unique ideas to share. The input you receive will help you expand your plans. Reach for the stars, and you'll make a difference to the outcome. Love is in the stars, and making a bold move will be engaging. HHH

LEO (July 23-Aug. 22): Partner with someone who has as much to offer. If you join forces with someone who is all talk and no action, you'll do all the work yourself and still have to share the rewards. Set high standards, and expect the same from others. HHH

VIRGO (Aug. 23-Sept. 22): You have plenty to look forward to if you embrace the changes that come your way. Don't fear doing things differently or changing your direction midway. Let your intuition guide you, and you will find the happiness you deserve. HHH

LIBRA (Sept. 23-Oct. 22): Show resilience and tenacity, and you will overcome any negativity or opposition you meet along the way. Deny anyone the right to lead you astray or take away what's rightfully yours. Call the shots, and make meaningful decisions. HHHHH

SCORPIO (Oct. 23-Nov. 21): Don't let bitterness engulf you when creativity and adventure will enlighten you and push you in a beneficial direction. A positive attitude will make it easier to let go of the past and find solace and peace of mind in the future. HH

SAGITTARIUS (Nov. 22-Dec. 21): Spend more time on moneymaking projects and less socializing with your friends. Too much partying will lead to temptations that make someone you care about question your standards and morals. Protect your reputation, position and valued relationships. HHHH

CAPRICORN (Dec. 22-Jan. 19): Count on yourself and you won't be disappointed. Delegating responsibilities to someone who isn't reliable will leave you looking bad. Pick up the pace, and you'll be able to get everything done on time by yourself. HHH

k a heritage house is neither limited to the arrangement of furniture and collections, nor a designed pathway for visitors to be toured around. It is all about creating an experience—the chance to fully experience a Pablo S. Antonio design and his architectural vision for ‘modern living in the tropics.’” In addition to his responsibilities, he finds time for his own art pieces, specifically in pointillism, with motifs inspired by Philippine ethnic patterns. Innerbloom, a piece he created in August 2021 amid the pandemic which reflected his state of mind and personal

growth, garnered 3rd Place at an international competition hosted by sterling art marker brand Copic in Tokyo, Japan. “This marked a triumphant moment not only in 2021, but in my life,” he confessed. Together with best friend Nigel Villaceran, they likewise launched Vibrant Art Studios PH, a collective of young artists who wish to uplift emerging talents while they advocate for the preservation of architectural heritage. “We call ourselves Vibrant to celebrate diversity in the Filipino youth—there is a lot to offer in Philippine art,” he concluded.

AQUARIUS (Jan. 20-Feb. 18): Check facts, but let your emotions contribute to your decision. Have a heart and be mindful, but don't show gullibility. A positive change can lead to progress, but it must be for the right reason to get the result you want. HHH

PISCES (Feb. 19-March 20): Listen, evaluate, adjust and do what works for you. Don't feel you have to do things the way someone specifies if you have a system that works better for you. Process what's entailed, and deliver what's essential. HHH Birthday Baby: You are diplomatic, intelligent and conscientious. You are visceral and complex.

Universal Freestyle 3 by Craig Stowe The Universal Crossword/Edited by David Steinberg ACROSS 1 Fraudulent offer 5 "___ the Night Before Christmas" 9 Word before "Putty" or "String" 14 Like a couch potato 15 Scratchy voice 16 Forge an alliance 17 Have ___ in your pants 18 Understudies with scheduled appearances 20 *Artistic freedom (note the last word in each starred clue's answer) 22 Split from a country 23 Color, like Easter eggs 24 *Oxygen carrier 31 Awards for Naomi Osaka 34 Homophone and antonym of "raise" 35 Bambi's mother, e.g. 36 Water filtration brand 37 Yucatan natives 38 Therapy center? 39 "What I think ...," in a text 40 Word that becomes its own antonym when an "n" is added to

the front 41 Extracted, like ore 43 *They're pressed when typing 47 DiFranco with the album "Revolutionary Love" 48 What might be curbed? 52 *Environmentalist's concern 56 Look inward 58 Perimeter 59 Off-limits 60 Grain in dolmas 61 Animal on Morocco's coat of arms 62 Strict 63 Subpar 64 Very small DOWN 1 Is really good 2 Kayak alternative 3 Certain ancient Nahuatl speaker 4 Whodunit genre 5 Used a stencil 6 Picture-perfect spot? 7 Italian wine region

8 9 10 11 12 13 19 21 25 26 27 28 29 30 31 32 33 37 41 42 44 45

Design detail, for short Tangy orange drink brand "Be right there!" Lo-cal 4G ___ Word that a nod might replace Has another go at The ___ of March First Pixar film with a female protagonist Lasagna section Netflix crime drama set in Missouri Garden with forbidden fruit Handed-down tales Pb on the periodic table It's a long story Japanese wrestling form "The ___" (2016 musical centered around a high school dance) Period to recharge alone Bit of 29-Down Tel Aviv resident Unhealthy lack of color In ___ (all together)

46 49 50 51 52 53 54 55 56 57

Graphic artist M.C. Break up Some frozen waffles Very small Shape of a sugar clump, maybe Group for people 50 and up Ben Folds Five, inaptly Danish shoe brand Ave. crossers Acai bowl bit, maybe

Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Tuesday, February 1, 2022

Bong Revilla flies high with new season of ‘Agimat ng Agila’ Actor-politician Bong Revilla is all smiles these days. The second season of the widely followed GMA weekly series Agimat ng Agila is off to a good start when it had its premiere over the weekend. The senator admitted that even before the series reached the final episode of its first season in 2021, the creative team was already starting to lay the foundation for its new season. “I’m blessed with a very good team headed by our director Rico Gutierrez, who always makes sure that all the details are in order before we start taping. The entire cast and I are all excited to showcase what we all worked so hard for the past months in order to give our televiewers a topnotch action series that will also make them feel good and entertained.” The 55-year-old Revilla juggles his time between his

Beleaguered Spotify to add advisories to podcasts discussing Covid-19

work in the Senate, his duties as a family man and, if he has free time, his passion as an actor. “I still have three more years as a senator, and like what I always promised in the past, my work as a public servant comes first before my being an actor.” He continued: “I am also very lucky to have family members that support me and love me unconditionally. Some of my children have also ventured into the political arena, and they are getting a good grasp of what local politics is all about and a better understanding of the life of their father.” Our friend Bryan Revilla, who is also an actor-producer, is seeking a congressional post as the first candidate of the Agimat Partylist. His brother Jolo is also running for congressman for the first district of Cavite while their mom, Lani Revilla will seek for a congress seat also, for the second district of Cavite. Revilla believes that his calling to serve has always been there, with a great deal of influence from his father, the late Ramon Revilla Sr., a movie icon and a longtime politician. “My father told me that it is okay to pursue whatever political or showbiz ambitions we have, but we have to make sure that we will always make time for our family, because the family is our anchor, and that we should always take care of the people who work for us and with us.”

This is the same mindset that Revilla brings with him when he works as an actor and a producer. “Specially during the new normal in making movies or working for television, everyone in the set and locked in with you in a work bubble becomes your extended family, and you have to look after each other.” He is happy that he is surrounded by beautiful coactors for this new season of Agimat ng Agila. There is Sanya Lopez, one of the gems of GMA who takes on a very important role in the series. “Sanya has all the makings of a big star. She is not only beautiful but also

a very natural actress. She is also very pleasant and grounded. I won’t be surprised if she becomes the GMA Teleserye Queen someday,” Revilla excitedly shared. Aside from Lopez, Revilla gets to be paired with Ilongga beauty queen Rabiya Mateo. Revilla made sure that he was in tip-top shape before starting on this new series. “I worked out every other day and made sure that I look fit. I am happy with the results, which I think gave me a better version of my dad bod, and I feel lighter and I think I have more energy too!” His body transformation also inspired many, like his good friend Jinggoy Estrada, to start working out too! While some of his friends in politics are gearing up for the coming May elections and busy starting their campaigns with neverending strategic meetings and nonstop travel, Revilla is more relaxed and in control at this time. “I look forward to a peaceful elections, and I pray that the pandemic will end soon to allow our lives some normalcy again, so our country can move forward, our people can all go back to work safely, and we can live happier, healthier lives. “I am blessed that I am able to continue to serve our country and our people, and at the same time give them entertainment also as an actor and producer with the projects we create for them,” he ended.

On a quiet weekend in theaters, ‘Spider-Man’ is No. 1 again This image released by Sony Pictures shows Zendaya, left, and Tom Holland in Columbia Pictures’ Spider-Man: No Way Home. Sony Pictures

By Jake Coyle

The Associated Press

NEW YORK—Following protests of Spotify kicked off by Neil Young over the spread of Covid-19 vaccine misinformation, the music streaming service said that it will add content advisories before podcasts discussing the virus. In a post Sunday, Spotify chief executive Daniel Ek laid out more transparent platform rules given the backlash stirred by Young, who on Wednesday had his music removed from Spotify after the tech giant declined to get rid of episodes of “The Joe Rogan Experience,” which has been criticized for spreading virus misinformation. “Personally, there are plenty of individuals and views on Spotify that I disagree with strongly,” wrote Ek. “It is important to me that we don’t take on the position of being content censor while also making sure that there are rules in place and consequences for those who violate them.” Ek said that the advisories will link to Spotify’s fact-based Covid-19 hub in what he described as a “new effort to combat misinformation.” It will roll out in the coming days, Ek said. He did not specifically reference Rogan or Young. Britain’s Prince Harry and his wife, Meghan, Duchess of Sussex, who have signed a multi-year deal to produce and host podcasts for Spotify under their production company Archewell Audio, on Sunday urged Spotify to tame virus misinformation. “Last April, our co-founders began expressing concerns to our partners at Spotify about the all too real consequences of Covid-19 misinformation on its platform,” an Archewell spokesperson said in a statement. “We have continued to express our concerns to Spotify to ensure changes to its platform are made to help address this public health crisis. We look to Spotify to meet this moment and are committed to continuing our work together as it does.” Earlier Sunday, Nils Lofgren, the Bruce Springsteen guitarist and a member of Crazy Horse, a frequent collaborator with Young, said he was joining Young’s Spotify revolt. Lofgren said he had already had the last 27 years of his music removed and requested labels with his earlier music to do likewise. “We encourage all musicians, artists and music lovers everywhere to stand with us and cut ties with Spotify,” wrote Lofgren in a statement. On Friday, Joni Mitchell said she is seeking to remove all of her music from Spotify in solidarity with Young. Earlier, hundreds of scientists, professors and public health experts asked Spotify to remove a December 31 episode from “The Joe Rogan Experience” in which he featured Dr. Robert Malone, an infectiousdisease specialist who has been banned from Twitter for spreading Covid-19 misinformation.

via AP

EW YORK—On a chillingly quiet weekend at movie theaters, Spider-Man: No Way Home again topped the box office in its seventh week of release. January is traditionally a slow month for moviegoing and that’s been especially true this year, in part because the Omicron variant of the coronavirus prompted some postponements. But even before the Omicron surge or a blizzard that forced some theaters closed Saturday in the Northeast, the weekend was set to be especially muted. Sony Pictures’ Spider-Man: No Way Home grossed $11 million over the weekend, according to studio estimates Sunday, bringing its domestic total to $735.9 million. The Marvel hit has accounted for a huge percentage of the month’s ticket sales. No Way Home, which has topped the box office for six of the past seven weekends, has continued to hold well since opening in December. This weekend, it dropped only 20 percent from the week prior. In the record books, No Way Home is approaching the thirdhighest grossing film in North America, Avatar ($760 million). It also added $21.1 million overseas to pass $1 billion internationally. But aside from Paramount Pictures’ Scream, which stayed in second place with $7.4 million in its third weekend, January has been a dead zone. No new releases opened widely over the weekend. Last week, one of the only films to try to open nationwide was The King’s Daughter, a woebegone fairy-tale starring Pierce Brosnan that was made in 2014.

While the ups and downs of the pandemic have meant a fluctuating recovery for movie theaters, the dearth of January releases comes on the heels of Hollywood’s biggest pandemic success in SpiderMan: No Way Home. At the box office, famine has followed feast. “Lack of movies is a critical issue for movie theaters,” said Patrick Corcoran, spokesman for the National Association of Theater Owners. “Contrary to some industry thinking, we cannot live on blockbusters alone. A consistent flow of exclusive movies to the movie theater is necessary to serve the range of audiences that go to the movies.” “We cannot get back to normal and show audiences that movie theaters are safe if the studios don’t give us a normal flow of films,” added Corcoran. For exhibitors, it’s a potentially worrying sign of what may come. Though there have always been lulls at the box office, such quiet periods could become more regular. Aside from the myriad films that go straight to streaming on platforms like Netflix, Amazon Prime Video and Apple TV+, industry consolidation—and less major studio product—has been a concern for theater owners since Walt Disney Co. acquired

20th Century Fox in 2019. Whether the theatrical business can weather the changes wrought by streaming is one question. But another, and potentially more pressing one is whether theaters will always have enough movies to subsist in between the biggest hits. Next week, Lionsgate’s Moonfall and Paramount Pictures’ Jackass Forever will open and are expected to finally topple Spider-Man: No Way Home from the top spot. A large number of blockbusters, including The Batman, Jurassic World: Dominion and Top Gun: Maverick, await in 2022. But some alarmingly thin periods may, too. Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to Comscore. 1. Spider-Man: No Way Home, $11 million. 2. Scream, $7.4 million. 3. Sing 2, $4.8 million. 4. Redeeming Love, $1.9 million. 5. The King’s Man, $1.8 million. 6. The 355, $1.4 million. 7. American Underdog, $1.2 million. 8. Ghostbusters: Afterlife, $770,000. 9. Licorice Pizza, $691,000. 10. West Side Story, $614,000. AP

Crystal Paras finds joy in waiting in newest single It’s the thrill of the chase, the giddy feeling when you are slowly falling in love with someone and then suddenly, you decide to wait and watch things unfold. GMA actress and singer Crystal Paras celebrates the beauty in waiting in her latest single under GMA Playlist, “Hintay,” released recently on various digital platforms worldwide. “This is a very sweet love song. It reminds me of the early parts of a relationship, very vulnerable ang lyrics. Coming from a woman’s perspective, if I heard it, isi-send ko siya sa crush ko or sa taong gusto ko,” says Crystal. Produced and released by GMA Playlist, “Hintay” was written by Rina Mercado. Crystal says that she was immediately drawn to the song because of its catchy tune and relatable lyrics. Throughout her career, Crystal continues to prove herself not only in singing but also in acting after being part of StarStruck Season 7 in 2019. Since then, she has appeared in Boys Love series Boys’ Lockdown, Love of My Life and The Lost Recipe. Soon, she will be part

of the network’s live action adaptation of the hit anime series Voltes V Legacy as the love interest of Big Bert played by Matt Lozano. “It’s my first time to actually be in a love team. Excited na ako na mapakita talaga ang story namin ni Big Bert. Matt and I are really good friends. Nu’ng malaman ko na magiging ka-love team ko siya, ang saya-saya ko kasi feeling ko magkakasundo kami and excited ako na makatrabaho siya,” she says. She also shares that being part of GMA Music’s sub-label GMA Playlist has been a surreal experience, and she is grateful for the opportunities handed out to her. “Ever since I started with GMA, one of my projects with them was to sing soundtracks for GMA dramas. Napakagaan ng loob ko sa kanila, they’ve all been so nice to me. To be one of their handpicked artists for the label is surreal to me. I’m just really glad to be releasing songs under them, so thankful ako sa GMA Playlist for opening so many doors to me,” shares Crystal.

B6 Tuesday, February 1, 2022

Optum Phils. bags award from PEZA, recognized at CCAP’s annual conference

CECILIO Castro (second from right), director for Finance at Optum Global Solutions, receives the Outstanding Exporter Award from Secretary for Department of Trade and Industry Ramon Lopez (first from right). They are joined by (from left) PEZA Deputy Director General for Policy and Planning Theo Panga, OIC DDG for Operations and concurrently Zone Administrator for Cavite Economic Zone Atty. Norma B. Tañag, and PEZA Director General BGen. Charito "Ching" Plaza.

PTUM Global Solutions Philippines, a health services innovation company, clinched the 2020 Outstanding Exporter Award at the 2021 Philippine Economic Zone Authority (PEZA) Excellence Awards and, in another annual event, was also recognized by the Contact Center Association of the Philippines (CCAP) during its yearly Contact Island’s Conference for the company's exceptional story featuring its VR-enabled Learning Program. “We are humbled and honored to be recognized for both our efforts in our trade and for our innovative approach to providing the Filipino brand of health care services. These recognitions are a testament to both our operational competence thanks to our colleagues and our commitment to providing the best health care service to our members,” said Ivic Mueco, Managing Director of Optum Philippines. As a recipient of PEZA’s Outstanding

Exporter Award, Optum yielded stellar results in export sales with an average 26.5 percent in growth from 2018 to 2020. Following the criteria for the award, the company’s notable efforts in maintaining its level of productivity while boosting its export of services helped Optum achieve a double-digit growth rate while maintaining its good standing as a corporate citizen. These results reinforce the country as a top choice for offshore companies who provide Filipinos with more career opportunities and highlight the quality of their professionalism. At the 2021 Contact Islands Conference hosted by CCAP, Optum’s VR-enabled Learning Program was also selected under the Knowledge-based and Technologyfocused people development program category. CCAP’s screening committee found merit in the way Optum’s learning program promotes and elevates the ‘Filipino brand’ of care as it provides immersive experiences for nurses to

strengthen their domain knowledge, enhance clinical patient care decisions, and encourage empathy. By leveraging on technology to upskill its nurses and deliver compassionate care, Optum revolutionizes the way Filipino health workers can further develop and deliver the best possible care while also gaining access to new career opportunities. Doing so also promotes Filipino talent on the global stage thanks to their expertise and skill. Mueco adds, “As a company with a culture of care and compassion, we strive to make innovations in our services with the care experience of our members in mind. By implementing psychosocial elements in our treatment, we can understand their needs better and have a more holistic approach while we ensure our treatments prioritize their health and improvement.” In line with said approach, Optum recently launched its “Make A Difference” campaign, which pays tribute to team members who make an impact in the lives of both the clients they serve and the colleagues they work with through the purposeful work they do every day. This campaign solidifies the company’s approach of care and compassion and applies it to its team members. Operating in the Philippines since 2011, Optum helps people live healthier lives and helps make the health system work better for everyone by making available an extensive suite of enabling and technology services to its clients. As a captive company, Optum’s sole client is the US-based health care organization UnitedHealth Group, which is currently in the Top 5 of the Fortune 500. It has the second largest business in the Philippines with 19,000 employees to date. Visit www.optum.com to learn more and follow UnitedHealth Group Careers on Facebook for updates.

Abenson pushes for sustainability with Mayani through Go Green and Give Back

N an age where tackling global warming is becoming more felt by everyone than ever, responsible corporations are now putting this as a centerpiece of their sustainability agenda and brand DNA.

Leading this wave is retail giant Abenson, through its e-commerce arm Abenson.com, who activated the “Go Green and Give Back” campaign putting a primacy on its environmentfriendly inverter technology. Through the campaign, all online “green purchases” of its inverterpowered refrigerator – those that are energy-efficient and reduce electricity consumption–will automatically come with an Abenson-donated farmer pack from Mayani, a leading agricultural technology startup uplifting small farmers and boosting rural livelihood. The packs will then be funneled towards various community pantries in the country. “Bringing the good life to every Filipino’s home–being Abenson’s core mission–has taken an expanded meaning through this collaboration. From helping our farmers to supporting local community pantries and preventing environmental degradation, this is truly a triplebottom aspiration which Mayani

GAC MOTOR PH WELCOMES 2022 WITH ROAR OUT DEALS. To welcome the Year of the Tiger, GAC Motor Philippines serves its Roar Out Deals new year promo to allow its customers to start the year with a brand-new GAC vehicle. Customers may choose from any of the GAC Motor vehicles on offer and may enjoy a low all-in downpayment, or as much as Php 290,000 discount, and may enjoy free three (3) months amortization when they avail of GS3, GS4, GA4, GN6, GS8, and the GN8. It also comes with a five-year warranty or 150,000 kms whichever comes first, a 1-year LTO Registration and Chattel Mortgage, and a free 1- year Comprehensive Insurance with Acts of Nature through selected bank partners. To know more, visit a GAC Motor Philippines dealership near you or go to gacmotorph.com.

PMPC elects new officers for 2022, radio host Fernan de Guzman is new president

PMPC 2022 OFFICERS, SEATED FROM LEFT: Joe Barrameda, Mildred Bacud, Rodel Fernando, Fernan de Guzman, Mell Navarro, Leony Garcia, and Lourdes Fabian; standing: Eric Borromeo, Francis Simeon, John Fontanilla, Jimi Escala, Roldan Castro, Sandy ES Mariano, Boy Romero, and Rommel Placente.

HE Philippine Movie Press Club, Inc. (PMPC) successfully held its election of officers for 2022. Following the strict health and safety protocols for COVID-19, the election was held in three batches last January 28 at the PMPC headquarters in Quezon City. The PMPC is a group of professional and active showbiz writers, editors of newspapers and tabloids in the country, online influencers and vloggers, and radio/TV/online reporters who cover the local entertainment industry. For years, this non-profit organization functions as an award-giving body recognizing deserving members of the local entertainment industry through the PMPC Star Awards for Movies, PMPC Star Awards for Television, and the PMPC Star Awards for Music. The counting of ballots was done virtually with Past Presidents Rommel Gonzales and Melba Llanera as election canvassers. After the counting, elected officers gathered together for a quick photo shoot. Here is the list of the new set of PMPC officers this 2022: Fernan de Guzman, president; Rodel Fernando, vice president; Mell Navarro, secretary; Mildred Bacud, assistant secretary; Lourdes Fabian, treasurer; Boy Romero, assistant treasurer; John Fontanilla, auditor, and Francis Simeon and Leony Garcia, public relations officers. Board of directors: Joe Barrameda, Eric Borromeo,

Roldan Castro, Jimi Escala, Sandy ES Mariano, and Rommel Placente. The new president said he will continue to explore and make the virtual PMPC events better should there still be prohibition for physical gatherings this year. De Guzman, who currenly hosts Wow, It’s Showbiz at Infinite Radio 92.1 FM, is a four-time PMPC president (2006-07, 201314, 2016-17 and now 2022). He also urges the officers and members for cooperation and unity for the success of the club and the benefit of its members. Also popularly known by his career name as Ms. F, De Guzman is a regular Saksi (tabloid) entertainment columnist and host of Wow, It’s Showbiz YT channel. He said he envisions to make PMPC as the strongest and most credible award giving body in the entertainment industry inspite of the challenging time. “Always, our goal is to keep the organization, the PMPC, active in the industry. And of course to continue to hold the annual awards night for Movie, TV and Music come what may. Lastly, we would like to provide assistance to our members in need through possible fund raising projects this year,” he added. The oathtaking ceremony of the new PMPC officers is expected to happen anytime soon.

SSS urges FB followers to utilize online portals

shares and is galvanizing with them,” said Ochie San Juan, who also leads a farmers cooperative in Lian, Batangas and the CoFounder & Chief Farmer of Mayani. Abenson, now over 50 years as an institution, already breached the 120mark in terms of its nationwide footprint of store branches and is known for its

fast delivery and click-and-collect order fulfillment service. Since 2021, they have been consistently providing Mayani-sourced food packs to different community pantries and even their employees as part of their corporate social responsibility and people engagement.

HE Social Security System (SSS) encourages its more than five million Facebook (FB) followers to actively utilize its portals and various online facilities including its social media platforms for easier access to SSS information, services, and transactions. SSS President and Chief Executive Officer Aurora C. Ignacio said that the SSS made available its My.SSS Portal on its website www.sss.gov.ph for members to have exclusive access to their contributions and membership records, facilitate online transactions, set appointments with their servicing branch, and request for copies of their records, among others. “The majority of our FB followers interact with us by writing queries and making follow-ups in the comments section of our official FB posts and the SSS Social Media Services Section is in charge of responding to these concerns. As we encourage active social media engagement, we also invite them to maximize the usage of the My.SSS Portal since benefit claims and loan status are readily available in their respective accounts. Likewise, they may also reach us through the FB Messenger where a Chatbot can respond to their basic and frequently asked questions,” Ignacio said. Members and employers may also use the SSS Mobile App, with similar features and

may be downloaded via Google Play Store, Apple App Store, or Huawei AppGallery for free. They may also avail of the Text-SSS facility via 2600 with a service fee of P2.50 per transaction for Globe, Smart, and Sun Cellular subscribers. Aside from the My.SSS Portal, the SSS also launched in November 2020, the ExpreSSS e-Learning (ExSSSeL) Portal which allows participants to learn the different SSS policies, programs, and updates at the comfort and safety of their homes. SSS has also launched the uSSSap Tayo Portal via www.crms.sss.gov.ph last September 2021 providing users with easier, simpler, and faster access to SSS information, and an avenue for sending their concerns on how to avail of SSS programs, services, and status verifications of their follow-ups and complaints.

Editor: Angel R. Calso

The World BusinessMirror

North Korea confirms test of missile that can hit Guam

EOUL, South Korea—North Korea confirmed Monday it testlaunched an intermediate-range ballistic missile capable of reaching the US territory of Guam, the North’s most significant weapon launch in years, as Washington plans steps to show its commitment to its Asian allies. Sunday’s launch could be a prelude to bigger provocations by North Korea such as nuclear and long-range missile tests that pose a direct threat to the US mainland, as the North tries to further pressure the Biden administration to win sanction relief or international recognition as a legitimate nuclear state. The official Korean Central News Agency said the purpose of the test was verifying the overall accuracy of the Hwasong-12 missile that is being deployed in its military. KCNA published two sets of combination photos — one showing the missile rising from a launcher and soaring into space and the other showing North Korea and nearby areas that it said were photographed from space by a camera installed at the missile’s warhead. The Associated Press decided not to use the images because the authenticity of the photos couldn’t be verified. North Korea said the missile was launched toward waters off its east coast on a high angle to prevent flying over other countries. It gave no further details. According to South Korean and Japanese assessments, the missile flew about 800 kilometers (497 miles) and reached a maximum altitude of 2,000 kilometers (1,242 miles) before landing between the Korean Peninsula and Japan. The reported flight details make it the most powerful missile North Korea has tested since 2017, when the country launched Hwasong-12 and longer-range missiles in a torrid run of weapons firings to acquire an ability to launch nuclear strikes on US military bases in Northeast Asia and the Pacific and even the American homeland. The Hwasong-12 missile is a nuclearcapable ground-to-ground weapon with a maximum range of 4,500 kilometers (2,800 miles) when it’s fired on a standard trajectory. It’s a distance sufficient to reach Guam, home to US military bases that in past times of tensions sent advanced warplanes to the Korean Peninsula in shows of force. In August 2017, at the height of animosities with the then-Trump administration, North Korea threatened to make “an enveloping fire” near Guam with Hwasong-12 missiles. In 2017, North Korea also test-fired intercontinental ballistic missiles called Hwasong-14 and Hwasong-15 that experts say demonstrated their potential capacity to reach the mainland US. Some analysts say North Korea still needs to

conduct additional ICBM test-flights to prove it has overcome the last remaining technological hurdles, such as protecting a warhead from the extreme heat and pressure of reentering the Earth’s atmosphere. In recent months, North Korea has launched a variety of weapons systems and threatened to lift a four-year moratorium on more serious weapons tests such as nuclear explosions and ICBM launches. Sunday’s launch was the North’s seventh round of missile launches in January alone, and other weapons tested recently include a developmental hypersonic missile and a submarine-launched missile. Analyst Cheong Seong-Chang at the private Sejong Institute in South Korea said the Hwasong-12 launch was seen as partially breaking North Korea’s weapons test moratorium. In April 2018, when North Korea suspended nuclear and ICBM tests ahead of now-dormant diplomacy with the Trump administration, Kim said North Korea didn’t need to test intermediate-range missiles any longer as well. Cheong said North Korea will likely test-launch its existing long-range missile if the United States spearheads fresh sanctions on it. Other experts said North Korea could conduct a nuclear test as well. North Korea has publicly vowed to add more powerful ICBMs and nuclear warheads in its arsenal. They include a longer-range ICBM with precision strike capability, a solid-fuel ICBM that improves a weapon’s mobility, a multiwarhead missile, a spy satellite and a super-sized warhead. After Sunday’s launch, White House officials said they saw the latest missile test as part of an escalating series of provocations over the last several months that have become increasingly concerning. The Biden administration plans to respond to the latest missile test in the coming days with an unspecified move meant to demonstrate to the North that the US government is committed to allies’ security in the region, according to a senior administration official who briefed reporters on the condition of anonymity. The official said the administration viewed Sunday’s missile test as the latest in a series of provocations to try to win sanctions relief from the US. The Biden administration again called on North Korea to return to talks but made clear it doesn’t see the sort of leader-to-leader summits Donald Trump held with Kim as constructive at this time. South Korean and Japanese officials also condemned Sunday’s launch, which violated U.N. Security Council resolutions that bans the country from testing ballistic missiles and nuclear weapons. AP

UN: Over 100 ex-Afghan forces, govt officials slain since August

NITED NATIONS—The United Nations has received “credible allegations” that more than 100 former members of the Afghan government, its security forces and those who worked with international troops have been killed since the Taliban took over the country Aug. 15, Secretary-General Antonio Guterres says. In a report obtained Sunday by The Associated Press, Guterres said that “more than two-thirds” of the victims were alleged to result from extrajudicial killings by the Taliban or its affiliates, despite the Taliban’s announcement of “general amnesties” for those affiliated with the former government and US-led coalition forces. The UN political mission in Afghanistan also received “credible allegations of extrajudicial killings of at least 50 individuals suspected of affiliation with ISIL-KP,” the Islamic State extremist group operating in Afghanistan, Guterres said in the report to U.N. Security Council. He added that despite Taliban assurances, the UN political mission has also received credible allegations “of enforced disappearances and other violations impacting the right to life and physical integrity” of former government and coalition members. Guterres said human rights defenders and media workers also continue “to come under attack, intimidation, harassment, arbitrary arrest, ill-treatment and killings.” Eight civil society activists were

killed, including three by the Taliban and three by Islamic State extremists, and 10 were subjected to temporary arrests, beatings and threats by the Taliban, he said. Two journalists were killed—one by IS—and two were injured by unknown armed men. The secretary-general said the U.N. missions documented 44 cases of temporary arrests, beatings and threats of intimidation, 42 of them by the Taliban. The Taliban overran most of Afghanistan as US and NATO forces were in the final stages of their chaotic withdrawal from the country after 20 years. They entered Kabul on Aug. 15 without any resistance from the Afghan army or the country’s president, Ashraf Ghani, who fled. The Taliban initially promised a general amnesty for those linked to the former government and international forces, and tolerance and inclusiveness toward women and ethnic minorities. However, the Taliban have renewed restrictions on women and appointed an all-male government, which have met with dismay by the international community. Afghanistan’s aid-dependent economy was already stumbling when the Taliban seized power, and the international community froze Afghanistan’s assets abroad and halted economic support, recalling the Taliban’s reputation for brutality during its 1996-2001 rule and refusal to educate girls and allow women to work. AP

Tuesday, February1, 2022 B7

US, Ukraine ready to confront Russia at UN Security Council

NITED NATIONS—The UN Security Council is scheduled to meet Monday for the first time on Russia’s troop buildup and threatening actions against Ukraine at the request of the United States, and all key players are expected to square off in public over the possibility of a Russian invasion and its global impact. US Ambassador Linda ThomasGreenfield said Russia’s actions pose “a clear threat to international peace and security and the UN Charter.” Council members “must squarely examine the facts and consider what is at stake for Ukraine, for Russia, for Europe, and for the core obligations and principles of the international order should Russia further invade Ukraine,” she said Thursday in announcing the meeting. Russia’s deputy U.N. ambassador Dmitry Polyansky responded angrily, tweeting: “I can’t recall another occasion when a SC (Security Council) member proposed to discuss its own baseless allegations and assumptions as a threat

to intl [international] order from someone else. Hopefully fellow UNSC members will not support this clear PR stunt shameful for the reputation of UN Security Council.” Polyansky’s reaction indicated that Russia may start the meeting asking for a procedural vote on whether it should go ahead. To block the meeting, Russia would need support from nine of the 15 members. A senior official in the Biden administration said the United States is in regular contact with council members and is “confident” that there is “more than sufficient support” to hold the meeting. “It goes right to the heart of the

role of the Security Council itself,” the official said, speaking on condition of anonymity because he was not authorized to speak publicly. “This preventive diplomacy is exactly what the council is supposed to be doing, and I think member states understand that.” Russia’s massing of an estimated 100,000 troops near the border with Ukraine has brought increasingly strong warnings from the West that Moscow intends to invade. Russia is demanding that NATO promise never to allow Ukraine to join the alliance, and to stop the deployment of NATO weapons near Russian borders and roll back its forces from Eastern Europe. NATO and the US call those demands impossible. Assuming the meeting goes ahead, the council will first hear a briefing by a senior UN official followed by statements from its 15 members including Russia, the United States and European members France, Ireland, United K ingdom and A lbania. Under council rules, Ukraine will also speak. China’s UN Ambassador Zhang Jun, whose country has close ties to Russia, indicated Beijing supports Moscow in opposing a council meeting. “Both sides have shown will-

ingness to continue their negotiations,” he told several reporters on Friday. “Let them settle the differences through dialogue, through negotiations.” “Russia has said clearly they have no intention to have a war” and the Security Council should “help to deescalate the situation instead of adding fuel to the fire,” Zhang said. The head of Russia’s Security Council, Nikolai Patrushev, on Sunday rejected Western warnings about an invasion. “At this time, they’re saying that Russia threatens Ukraine— that’s completely ridiculous,” he was quoted as saying by state news agency Tass. “We don’t want war and we don’t need it at all.” Thomas-Greenfield said of the US and the other council members on ABC’s “This Week” on Sunday: “We’re going into the room prepared to listen to them, but we’re not going to be distracted by their propaganda.” “This is a period when we want to see calm,” said Ireland’s UN Ambassador Geraldine Byrne Nason, whose country is serving a twoyear term on the council. “We want to see deescalation, diplomacy and dialogue. That’s what we favor in relation to the current set of circumstances.” AP

UAE intercepts Yemen missile during visit of Israeli president

UBAI, United Arab Emirates—T he United A rab Emirates intercepted a ballistic missile fired by Yemen’s Houthi rebels early Monday as the Israeli president visited the country, authorities said, the third such attack in recent weeks. The attack amid President Isaac Herzog’s visit only fuels the ongoing tensions affecting the wider Persian Gulf, which has seen a series of attacks as Iran’s nuclear deal with world powers collapsed and Yemen’s yearslong war raged. As negotiators in Vienna now attempt to save the accord and Emirati-backed forces press on the Houthis, the rebels are launching their longest-range attacks yet. Those assaults represent a major challenge for the Emirates, which long has advertised itself to international businesses as a safe corner of an otherwise-dangerous neighborhood. The UAE’s state-run WAM news agency reported the interception, saying that “the attack did not result in any losses, as the remnants of the ballistic missile fell outside the populated areas.” It wasn’t immediately clear where the missile remnants fell. The country’s civilian air traffic control agency said there was no immediate effect on air travel in the UAE, home to the long-haul carriers Emirates and Etihad. Already, the country’s top prosecutor has threatened that people who film or post images of such an incident would face criminal charges in the UAE, an autocratic federation of seven sheikhdoms on the Arabian Peninsula. That makes reporting on such incidents even more complicated for journalists. In the absence of those videos, the Emirati Defense Ministry re-

leased black-and-white footage it described as showing the destruction of a ballistic missile launcher in Yemen’s al-Jawf province some 30 minutes after the attack. Another attack last week saw a similar strike launched on al-Jawf in the minutes after, leading analysts to suggest the Emiratis may be receiving intelligence assistance from the West for its strikes. Al-Jawf is some 1,350 kilometers (840 miles) southwest of Abu Dhabi. Houthi military spokesman Yehia Sarei wrote on Twitter that the rebels would make an announcement about an attack in the coming hours that reached into “the depths of the UAE.” He did not elaborate. The Houthis’ Al-Masirah satellite news channel later reported that airstrikes had begun targeting Sanaa, Yemen’s rebel-held capital. Herzog, Israel ’s ceremonial president in its parliamentary democracy, is in the country on a state visit. The ceremonial leader met Sunday with Abu Dhabi’s powerful crown prince, Sheikh Mohammed bin Zayed Al Nahyan. “I wish to emphasize that we completely support your security requirements and we condemn in all forms and language any attack on your sovereignty,” Herzog told Sheikh Mohammed, according to his office. Herzog’s office told The Associated Press early Monday that the trip was “expected to continue as planned” when asked about the missile interception. It did not elaborate. Herzog was scheduled to visit Dubai’s Expo 2020 world’s fair Monday, which the Houthis had previously threatened to target. US State Department spokesperson Ned Price condemned the Houthi attack. “While Israel ’s

president is visiting the UAE to build bridges and promote stability across the region, the Houthis continue to launch attacks that threaten civilians,” Price wrote on Twitter. In the hours after the Houthi attack early Monday, Syrian staterun media said an Israeli strike hit near Damascus. The Israeli military did not immediately acknowledge it. Israeli Prime Minister Naftali Bennett in December made his first official visit to the Gulf Arab sheikhdom and discussed strengthening relations on a number of fronts with Sheikh Mohammed. The visits come after the UAE and Bahrain recognized Israel and established diplomatic relations in 2020. Palestinian leaders have condemned the normalization deal as a betrayal of their cause for statehood. Last week, a similar attack saw both Emirati and US forces fire interceptor missiles to bring down a Houthi attack as the missiles came near Al-Dhafra Air Base in Abu Dhabi, which hosts some 2,000 American troops. The US military did not immediately respond to requests for comment. The week before that saw a Houthi drone-and-missile attack strike an Abu Dhabi National Oil Co. fuel depot, killing three people and wounding six others. Another attack targeted Abu Dhabi International Airport, though damage wasn’t seen in satellite photos analyzed by AP. That attack came as South Korean President Moon Jae-in visited the Emirates. The attacks have helped propel benchmark Brent crude oil prices above $90 a barrel, further squeezing a global economy grappling with inflation in the coronavirus pandemic.

Although the UAE has largely withdrawn its own forces from Yemen, it is still actively engaged in the conflict. It supports militias fighting the Iranian-backed Houthis, who seized Yemen’s capital, Sanaa, in September 2014. A Saudi-led coalition, which the UAE is a part of, entered the conflict in March 2015. Iran has denied arming the Houthis, though U.N. reports, independent analysts and Western nations point to evidence showing Tehran’s link to the weapons. Experts, however, debate how much direct control Tehran exercises over the Houthis. Yemen’s war conflict has turned into the world’s worst humanitarian crisis, with international criticism of Saudi-led airstrikes that have killed hundreds of civilians and targeted the country’s infrastructure. Attacks after the first round of Houthi missile fire on Yemen in January saw the Saudi coalition strike a prison and kill some 90 people, as well as knock the country off the Internet for days. The Houthis meanwhile have used child soldiers and indiscriminately laid landmines across the country. The missile attacks targeting the UAE come as the Houthis face pressure and are suffering heavy losses on the battlefield. Aided by the Emirati-backed Giants Brigades, Yemeni government forces took back the province of Shabwa earlier this month in a blow to Houthi efforts to complete their control of the entire northern half of Yemen. W hile Emirati troops have been killed over the course of the conflict, until this month the war hadn’t directly affected daily life in the wider UAE, a country with a vast foreign workforce. AP

Rain-fed landslides, flooding kill at least 19 people in Brazil

R A SILI A , Bra zi l—L a ndslides and flooding caused by heavy rains killed at least 19 people in Brazil’s most populous state Sunday while high waters forced some 500,000 families from their homes over the weekend, authorities said. Three people from the same family died when a landslide destroyed their house in the city of Embu das

Artes, according to the municipal government, while four other people were rescued by firemen. Four children died in Francisco Morato, Sao Paulo state Gov. João Doria said, and the state government said four other people died in Franco da Rocha. Deaths also were reported in Ribeirão Preto and Jaú. Three of the deaths involved

people who were swept away by flood waters, the state fire department said. Doria used a helicopter to survey damaged areas on Sunday and announced the equivalent of $2.8 million in financial aid to affected cities. O ver f low i ng r ivers forced 500,000 families to leave their homes, the state government said.

Several roads and highways were blocked. Because of disruptions caused by the rain, the city of Sao Paulo canceled scheduled vaccinations against the coronavirus. Southeastern Brazil has been punished with heavy rains since the start of the year, with 19 deaths recorded in Minas Gerais state earlier this month. AP

Sports

| Tuesday, February 1, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

BusinessMirror

GREAT JOB, MALDITAS!

HILIPPINE Football Federation (PFF) President Mariano “Nonong” Araneta sewed together perhaps the most appropriate words for the national women’s team that made history by advancing to the Fifa Women’s World Cup early Monday morning. “It feels like we won a gold medal [in the Olympics],” Araneta told BusinessMirror on Monday still reeling from little or no sleep at all after the Malditas—as the Filipina footballers are called—beat Chinese Taipei, 4-3, in a penalty shootout to accomplish what looked like the impossible play in the Fifa Women’s World Cup. Araneta was chef de mission to Tokyo last July when weightlifter Hidilyn Diaz won for the country its first Olympic gold medal. “It’s a great achievement for our women’s national football team,” Araneta said. “All their sacrifices have paid off. They are proud to represent the Philippines. Para sa bayan!” Rep. Abraham “Bambol” Tolentino joined the entire country in celebrating the historic achievement, one of several that happened under his watch as Philippine Olympic Committee (POC) president—Diaz’s gold medal, then Filipino citizen Yuka Saso’s US Women’s Open victory and gymnast Carlos Yulo’s second world championships gold medal, among others. In the political front, presidential aspirant Ferdinand “Bongbong” Marcos Jr. was amazed by the Malditas’ feat and PLDT and Smart brass lauded the girls, who took an entire country where football isn’t in the top five—top 10 even—as the Filipinos’ favorite sport to the “beautiful game’s” biggest arena.

TOLENTINO HAILS MALDITAS PHILIPPINE Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino said Philippine sports have never been this successful. “We won our first-ever Olympic gold medal in Tokyo last July— adding two silvers and one bronze— and then this in football,” Tolentino

said. “Filipino athletes have been leveling up and are putting the country prominently on the world sporting map.” Tolentino also congratulated the Philippine Football Federation (PFF) for having accomplished what looked like an “impossible dream,” noting that we are not a football-loving nation.” The PFF is headed by Mariano “Nonong” Araneta with Atty. Edwin Gastanes as secretary general. “These two gentlemen of sports have painstakingly brought Philippine football up there, not to mention that they hold or held sensitive positions in the POC,” said Tolentino, referring to Araneta who was chef de mission when weightlifter Hidilyn Diaz won gold and boxers Carlo Paalam and Nesthy Petecio clinched silvers and Eumir Felix Marcial bagged bronze at the Tokyo Olympics. Gastanes, Tolentino’s secretary general at the POC, described the feat as a “historic milestone.” “Another historic milestone for Philippine sports. Filipina booters showed strength, resilience and hard determination to win for the country and the sporting youth of the land in the AFC Women Asian Cup in India,” Gastanes said. “The Philippine flag will fly high and proud in the Fifa Women World Cup 2023 Australia & New Zealand in July 2023.”

BBM AMAZED BY FOOTBALLERS’ FEAT FORMER Senator Ferdinand “Bongbong” Marcos Jr. said in a statement that the Malditas’ victory over Chinese Taipei is one big reason to celebrate. “I join the entire nation in congratulating our Philippine women’s football team for its superb and historic performance in the AFC Women’s Asia Cup,” the presidential aspirant Marcos said. “This momentous victory by the Filipinas or Malditas is a testament to the world-class abilities of Filipino athletes, which we shall—if given the chance—sustain and develop further with the implementation of a holistic sports program.” Marcos said: “Thank you for

showing us, and the rest of the world, what can be achieved through teamwork and a unified focus in pursuit of a goal. You have brought honor and pride to a nation already weary from this pandemic. The entire country will be behind you 100 percent in your bid to win the 2023 Fifa Women’s World Cup.” “Once again, sports has proven that it is and will always be a unifying passion of the Filipinos and our UniTeam will be one with all of our athletes in this cause,” he said. “Mabuhay kayong lahat at Mabuhay ang Pilipinas!”

PANLILIO CALLS FEAT ‘INCREDIBLE’ PLDT and its wireless arm Smart Communications Inc. (Smart) celebrated the Malditas’ incredible win. “Our women’s national team demonstrated resilience, skills and unyielding spirit in the fight to qualify for the World Cup 2023,” said Alfredo Panlilio, PLDT Inc. and Smart Communications President and CEO. “Congratulations as well to Philippine Football Federation President Nonong Araneta and Secretary General Ed Gastanes for their important role in this achievement and their leadership in developing this sport for Filipinos,” he said. “This is proof that if we give our athletes the support and training that they need, we can help them reach their goals,” he said. “We are extremely proud to be part of their journey as they make herstory and bring glory to the country,” said Panlilio, also the president of the MVP Sports Foundation (MVPSF) and the First Vice President of the Philippine Olympic Committee. PLDT and Smart, through MVPSF, have been supporting the PFF through its various programs. “We will continue to support the national team as they prepare for the World Cup in 2023. We will also develop the potential of our athletes who are training under PFF,” said Jude Turcuato, First Vice President and Head of Sports at PLDT and Smart and Executive Director at MVPSF.

MCDANIEL: DREAM TURNS TO REALITY THE Malditas were locked with the Taiwanese, 1-1, at the end of the match but snared a semifinals berth at the Asian Football Confederation Asia Cup—and that Women’s World Cup slot—by outwitting their foes, 4-3, in the penalty at the Shiv Chhatrapati Sports Complex in Pune, India. “It’s an unbelievable achievement by the group,” the Malditas’ Australian head coach Alen Stajcic said. “It’s a new bar that’s been set up and now, every young kid, girls and boys back in the Philippines, they could get inspired and get to the World Cup themselves.” Goalie Olivia Alexandra McDaniel could hardly believe herself that she and her teammates are bound to the World Cup. “To be honest, it hasn’t even hit me yet. It’s very surreal,” McDaniel said. “I’m just really proud of this team and proud to do it for our country and be able to break history. It was just a dream a couple of months ago but now it’s reality.” Japan, South Korea and China also advanced to the semifinals of the Women’s Asian Cup and booked their spots at the World Cup. In Thursday’s semifinals, South Korea will face the Philippines. Defending champion Japan thrashed Thailand 7-0 and moved forward to

By Josef Ramos

ANQING, China—Asa Miller set foot in China early morning on Monday, went through accreditation and health protocols, settled down at the Yanqing Athletes Village, slept a few hours only to start shaking off jetlag, woke up around noon and buckled down to work for his second straight Winter Olympics stint. “We’re going to be very busy because we need time to get acquainted with the village, setup skis and go skiing to familiarize with the area,” the Filipino-American from Portland told BusinessMirror on Monday. Miller and his father got their first RT-PCR testing after having lunch, the first of many tests that are compulsory for everyone attending the Olympics. He also picked up his complimentary folding smart phone from Games sponsor Samsung and his freebies as Kelly Miller secured their radio equipment and had them checked. Athlete’s Welfare Officer Joebert Yu said Miller plans to start training

ELBOURNE, Australia— Searching for inspiration when he was down two sets and facing triple break point, with his prospects of winning a record 21st Grand Slam title almost shot, Rafael Nadal thought back to some of his most difficult defeats. A renowned right-to-the-end competitor, Nadal dug deep in that critical moment and won the next four points to survive the immediate threat from Daniil Medvedev. Minutes later he held for 3-3 in the third set and swung the momentum of the Australian Open final around. Nadal eventually did get to 21 first, setting the men’s record for most Grand Slam singles titles after a dramatic 2-6, 6-7 (5), 6-4, 6-4, 7-5 comeback win that lasted five hours and 24 minutes and finished early Monday morning. The 35-year-old Spaniard now has one more major title than Roger Federer and Novak Djokovic, his longtime rivals in the so-called Big Three. He was the only one of three who had a chance to claim the record solo in Australia. Federer is still recovering from knee surgery and Djokovic was sensationally deported from Australia on the eve of the tournament because he wasn’t vaccinated against Covid-19. It’s all history now that Nadal, who has had injury problems of his own has become just the fourth man to win all four of the sport’s major titles at least twice. “I was

on Tuesday to immediately get the feel of the competition. Miller looked ready to rock and conquer the snow-covered slopes of Xiaohaituo Mountain where the men’s slalom and giant slalom competitions of alpine skiing are set. Looking in his best shape ever, Miller is also wiser and more skilled since four years ago when at 17 he competed in his first Winter Olympics. At 21 and with plenty of skiing experience, Miller is all set to finish better at the Beijing 2022 Winter Olympics that starts on Friday. “It’s good that we finally meet you face-to-face,” Miller told Team Philippines chef de mission Bones Floro upon arriving at the Games Village. Miller took a 15-hour journey with his dad Kelly from San Francisco to Beijing via Narita. The almost halfday difference in time zones was for Miller to get rid of first. Philippine Ski and Snowboard Federation President Jim Apelar said the Filipino-American Miller looked ready for action in the men’s slalom

repeating to myself during the whole match, ‘I lost a lot of times here having chances, sometimes I was a little bit unlucky,’” Nadal said. “I just wanted to keep believing until the end.” “Tonight has been unforgettable. I feel very lucky.” Nadal was broken when serving to serve it out for the first time at 5-4 in the fifth set, but he made no mistake two games later, converting the first of his championship points. Taking everything into account, “the scenario, the momentum,” he said, ”without a doubt probably the biggest comeback of my tennis career.” Certainly, he added, “The most unexpected. And most surprising, I think, for everyone.” On Monday, Nadal indicated he wouldn’t be reducing his schedule for the rest of 2022. “Of course, after this month of practicing hard, playing very long matches, the foot was able to hold all this stress, of course I feel more confident that I going to have the chance to keep going, keep fighting, keep enjoying this beautiful sport,” he said. “That’s what make me happy. I just feel confident now that I going to have my chances to keep playing tennis for a while, yeah.” Federer and Djokovic were watching the final, from a distance, and both used social-media messages to offer congratulations to Nadal for breaking their three-way tie atop the men’s Grand Slam standings. Nadal and Medvedev packed a lot of drama into the final that started Sunday night, was delayed in the 84-minute second set when a humanrights activist jumped onto the court, and finished close to 1:15 a.m. AP

Sultan returns to US to start training camp

RAFAEL NADAL wins the Australian Open for a record 21st major title. AP

meet China after the eight-time winner beat Vietnam 3-1.

MILLER, DAD ARRIVE IN BEIJING, SETTLE DOWN IN GAMES VILLAGE ASA MILLER strikes a pose with his dad Kelly and chef de mission Bones Floro after accomplishing arrival procedures at the Yanqing Athletes Village.

NADAL CLAIMS MAJOR NO. 21

and giant slalom of alpine skiing which get going on February 13. “Asa is in the best shape of his life as an alpine skier representing the Philippines,” Apelar said. “He’s fit and lifting a lot of weights during his training prior to his departure for China.” Apelar said the 5-foot-8 Miller gained more muscle since four years ago in Pyeongchang when he was a lanky teeanager. And he’s become matured. “He’s more mature and he’s a true veteran now,” Apelar said. “He’s also gotten stronger and bigger this time.” With a stockier physique, Apelar said Miller has gotten the key points to become a strong skier—control, power and maneuver and navigate the pressure of a fast-paced race. “That’s why fitness is so important particularly in both the slalom and giant slalom,” he said. Miller made the rounds of competitions in the Lutsen Mountains in Minnesota, Winter Park Resort in Colorado, Snow King Mountains in Jackson and Wyoming and Snowbird Ski in Utah. In Pyeongchang, Miller finished 70th in a field of 110 skiers in giant slalom. “We’re sure he’ll do much better this time,” Apelar said.

ONAS SULTAN is back in the United States to solidify his bid to a shot at a world title as he is ranked No. 4 bantamweight by the World Boxing Organization (WBO) and No. 7 by the World Boxing Association. The Zamboanga City-native Sultan left for the United States on Saturday night after spending the holidays in a posh Cavite house owned by Zamboanga Valientes owner Junnie Navarro. The 30-year-old Sultan, who spent his entire Philippine vacation together with his family, will be joining stablemate and current world super flyweight kingpin Jerwin Ancajas in Los Angeles, California. “While he is coming off a remarkable win last October in New York, Jonas is more eager to score another spectacular win for his next fight as he is getting a lot of inspiration from his newly-born child and hopefully, that next fight would be for a world title,” Navarro said. Fighting as a heavy underdog in his last bout, Sultan (18-5, 11 knockouts) floored erstwhile unbeaten Carlos Caraballo of Puerto Rico four times en route to a 10-round unanimous decision win on October 30, 2021, at the famed Madison Square Garden in New York. “I kept on training since December and even though my wife gave birth, I didn’t stop training,” said Sultan, who snatched the WBO intercontinental crown in beating Caraballo. “I must be ready anytime I am called to fight especially for a world title.” While in Los Angeles, Sultan will serve as one of the main sparring partners of Ancajas, who will defend his International Boxing Federation crown against Fernando Martinez of Argentina on February 27 in Las Vegas. There are three holders of four bantamweight titles and two of them are Filipinos—Nonito Donaire Jr. (World Boxing Council ) and Johnriel Casimero (WBO). Sultan hopes to challenge the third titleholder, Japanese superstar Naoya Inoue who owns the WBA and IBF belts. “It’s Inoue I want and not my fellow Filipinos,” said Sultan, who is now solidly backed by Go For Gold, Globalport, MLV Accounting and Finn Cotton.

A BusinessMirror Special Feature

www.businessmirror.com.ph

MISSING THE CNY MANILA CHINATOWN WALKING TOURS

Tuesday, February 1, 2022 C1

started in our home in Binondo. Our Tikoy is made from 100 percent pure glutinous rice, galapong, as they call it and make it the old, traditional way,” he said. Maggie’s Homemade tikoy boxes are not available commercially. Their clients are mostly corporate clients who buy their tikoy and place them in customized packages. “Our clients include many banks, shipping and power generation companies, schools, hospitals, car dealers and many others,” Tan said. Maggie’s current warehouse is located in Malabon City. For now, Jerome is focusing on his other businesses like BA Medical Diagnostic Center which is doing well during the pandemic.

Quezon City hosts the country’s biggest Chinatown

The country’s biggest Chinatown in terms of land area is not in Manila, Cebu or in Davao. It can be found in the Sta. Mesa Heights area in Quezon City which was developed several years ago under then Vice May-

ONGPIN Street in Binondo is known for jewelry shops selling nothing but high-carat gold, restaurants, bakeries and places that offer cobra bile for the brave soul. BERNARD TESTA

By Leony R. Garcia

N January 21, 2020, I participated in the annual Manila Chinatown heritage tour as part of the Chinese New Year celebration. No such tour has been organized for the past two years due to the Covid-19 pandemic. The tour was made possible by my good friend, blogger and cultural tour guide Rence Chan (WalkwithChan). Chan is a Filipino-Chinese historian who is known for conducting the most in-depth and detailed tour of Chinatown. WalkwithChan has become his advocacy to impart knowledge on the cultural and historical aspects of this place which he once called home. A hobby he developed since high school, Chan has toured many groups especially students who are writing theses about food and culinary and historical places of Manila. A WalkwithChan tour is normally done in partnership with Ralph Soriano’s Binondo Fireworks Firecrackers Lovers Organization Inc., and the PHLPost’s Royal Postal Heritage Tour. The tour group is also behind various public and private guided tours in the historical destinations in Manila such as Fort Santiago-Intramuros, and an operational tour in the Manila Central Post Office.

Why does the date of Chinese New Year keep on changing?

The date of Chinese New Year changes every year, but always falls between January 21st and February 20th. The first day of the Chinese New Year falls on a new moon day and this year, it falls on February 1. This also ushers in the Year of the Water Tiger.

Aside from China, CNY is celebrated in countries with big Chinese communities such as the Philippines, Singapore, Indonesia, Malaysia, Thailand, Cambodia, Australia, Taiwan, Hong Kong, Southeast Asia and Mauritius, and also in Europe, Australia, New Zealand, America, and Canada. Most Chinese communities during this period are decorated with red lanterns, loud fireworks, massive banquets and parades. Most major cities put up an impressive display of fireworks around midnight to welcome the New Year. No such celebrations have happened during the past two years.

Manila Chinatown is the largest, oldest of its kind

Founded in 1594, Manila Chinatown was established to separate the Catholic Chinese from the nonCatholics from mainland China. Over the centuries, it became the center of commercial and trade operations due to its strategic location. The current Chinatown covers a big portion of several districts of Binondo, San Nicolas, parts of Santa Cruz, Tondo and even parts of Quiapo. Today, it remains a commercial hub and home to establishments of all ages and sizes. “Chinatown is such a big place, not just Binondo. It also includes Santa Cruz, San Nicolas and even small parts of Tondo. Our tours focus on those areas that are not frequently visited by commercial tour operators,” Chan pointed out. My exclusive tour started at Plaza Sta. Cruz where the Church is located. We traversed Burke St. on our way to our first stop at the New Toho Food Center at Pinpin St. near Dasmariñas St. to have a taste of Dr. Jose Rizal’s favorite dishes

of lumpiang shanghai, pancit canton guisado, and yang chow fried rice. We also ordered the restaurant’s famed pork asado which had a smoky flavor, and Manila Mayor Isko Moreno’s favorite Chinese kikiam. Fourth generation owner Alguer Wong told me during our interview that he would be upgrading his restaurant to make more appealing to today’s generation with the help of his millennial son. And he just did that! Chan sent me a photo taken last week of the newly refurbished resto. Grand Toho was renovated in June 2021 and since then, it has been catering to online deliveries through. From New Toho, we had brief stopovers to take photos at the Juan Luna Ancestral House marker, Chamsamco Hardware, Santo Cristo St., Dona Teodora Alonzo Ancestral House marker, Ilang-Ilang Restaurant, and Jaboneros St., among others. We also passed by the Panciteria Macanista de Buen Gusto along San Fernando St. The panciteria is Manila’s oldest pancit house which served the famous pancit langlang. The place is mentioned in Chapter 25 of Rizal’s El Filibusterismo, Chan said. After that, we traversed Reina Regente St., a good five to 10-minute walk to our final stop, the Chinatown Museum housed at the imposing Megaworld Lifestyle Malls and Lucky Chinatown in Binondo, Manila.

Tikoy, hopia, siopao, mooncake and other Chinese delicacies

Chinese people firmly believe that "To the people, food is heaven." There are only a handful of cultures that are as food oriented as the Chinese. This is probably brought about by the foremost task of the

Chinese Emperor is to make sure that he can feed his subjects. The Chinese use food in rituals to guarantee fertility, prosperity, a good marriage, and an afterlife. It has also been used to display the power and wealth of the state, family, and a person. Chinese cuisine has developed over thousands of years, its character unchanged by war and revolution. But there is a huge variety when it comes to real Chinese cuisine, and regional specialties vary, in some cases, from village to village. Aside from main dishes, many Filipinos simply cannot resist the taste of tikoy, hopia, siopao, and mooncake. In celebrating Chinese or Lunar New Year, it is believed that the sticky feature of tikoy symbolizes the sticky or solid relation of the family and that the New Year would help the family stick together. Even the non-Chinese among us have adapted this and give away tikoy especially during CNY celebrations. Jerome Tan, the second-generation owner of Maggie’s Home Made Tikoy, related that business in the Binondo district has been badly affected by the pandemic. “There is a big demand for Tikoy. In fact, we still get new clients every year just by word of mouth and referrals of friends. Unfortunately, this year we were unable to produce any tikoy because most of my employees got COVID. This is the first time in our 40-year existence that this has happened,” he said. Hhe said his mother started Maggie’s in 1981 with the traditional recipe from her native Fujian, China, a recipe the company uses until this day. “My mom, now in her 70s, is still active in the business which

or and now Mayor Joy Belmonte. Prior to the pandemic, Quezon City officials celebrate Chinese New Year with traditional dragon and lion dance performances; a Chinatown motorcade; Chinese deli food and trade bazaar; Chinese music and arts performances; a wushu or kung fu martial arts exhibition; traditional Chinese cooking demonstrations; feng shui predictions; and a concert. Just like the other Chinatowns all over the world, there will be no grand celebration in Quezon City. However, many time-honored traditions will continue to be observed. These include family reunions; the giving of lucky “angpao,” red envelopes with money for the youth, unmarried adults, seniors and employees; eating Tikoy; visits to the temple; wearing new clothes, particularly red in color; annual cleaning of one’s house or office; and paying off old debts Let’s not allow the Covid-19 pandemic to dampen our Chinese New Year celebrations. Kung Hay Fat Choy!

Philippine Post Office launches colorful Year of the Tiger stamps to mark Chinese Lunar Year

HE Philippine Postal Corporation (Post Office) yesterday launched the commemorative “Year of the Tiger” stamps to mark the celebration of Chinese New Year 2022. “We wish the Chinese community peace, prosperity and love,” Postmaster General Norman Fulgencio said. “This event will also give us an opportunity to both Chinese-Filipinos and Filipinos in the country to enjoy and appreciate this celebration in a simple ceremony. I understand that some of the festivities in Manila were postponed for the second time this year due to the threat of the coronavirus,” he added. ‘

Popular celebration

THE Chinese Lunar New Year is popularly celebrated not just in Asia but throughout the world. It is one of the most important holidays of the year for many Asian communities around the world] and is primarily celebrated by people of Chinese, Korean, Vietnamese, Tibetan, Mongolian, Malaysian and Filipino heritage. Across these varied cultures, many traditions exist for ringing in a new year of good luck and prosperity. The water tiger is the third of the 12 zodiac animal signs associated with the Chinese lunar calendar. As with other zodiac signs, personality traits and other attributes are often associated with people born in the year of a particular animal. The Chinese calendar has sparked "a lot of interest" in recent years among Filipinos who "collect the (Chinese zodiac) stamps,” the Post Office said in a statement.

Strengthening of ties

THE stamp issuance is welcomed by stamp collectors as it helps strengthen the ties between the Chinese and Filipino people. "We firmly believe that this Year of the Tiger, which is the symbol of courage and strength, will propel us to greater heights as the Post Office gears up to modernize its systems, innovate its products and services and immortalize the rich history, culture, talents and achievement of Filipinos around the world,” Fulgencio noted. The Chinese Zodiac is about symbolically doing away with the old of the previous year and ushering in health, good fortune, prosperity, and happiness for the coming lunar year. The Chinese cultural influence has been widely recognized in the country, from eating Chinese food, talking to Feng Shui experts for good luck, as well as reading their Chinese horoscope. Stamps, souvenir sheets and official first day covers of “New Year 2022: Year of the Tiger Stamps” are nowat the Philatelic Counter, Manila Central Post Office in Liwasang Bonifacio. For inquiries on the stamps, call (02)8527-0108 or (02)8527-0132 and follow and like Facebook page https://www.facebook.com/PilipinasPhilately/ for updates.

Chinese New Year A BusinessMirror Special Feature

Tuesday, February 1, 2022

YEAR OF THE TIGER www.businessmirror.com.ph

RING IN THE YEAR OF THE TIGER WITH THIS LAURIAT FEAST S

AVOY Hotel Manila greets the Year of the Tiger with much excitement through glorious food that is meant to be shared with the whole family. Visit the hotel’s all day dining restaurant, Savoy Café, on February 1, 2022, for lunch from 12 noon to 2 pm and enjoy a heavy and delectable Lauriat meal. For only Php 1,300, indulge in a feast good for 4 persons that consist of Mushroom Soup, Yang Chow Fried Rice, Stir Fry Noodles, Chinese Style Fried Chicken and Fresh Fruit Slices. One can also further celebrate this auspicious day with a glass of Savoy Hotel Manila’s drink of the

month, White Sangria. This concoction of Chardonnay, Brandy, Orange Juice, Sprite and Syrup has just the right amount of sweetness and kick that you are looking for in an afternoon drink. Last but certainly not the least, consider taking home a whole order of the hotel’s cakes of the month. Choose between Blushing Strawberry, a chiffon cake with layers of fresh strawberries and whipped cream, or the Triple Chocolate Surprise which has dark, milk and white pure chocolate mousse For more details and for restaurant reservations at Savoy Café, please call 5317 2888 or email dine@savoymanila.com.

LANTERNS OF LUCK AT SM MEGAMALL. SM Megamall welcomes the Year of the Tiger with the glow of over a thousand gold tasseled red lanterns in different sizes in its entrances. Red lanterns are traditional Chinese New Year symbols of wealth, fame, and prosperity.

From Zero to Hero: Globe cell site brings dead spot in Bangar, La Union to life

Roar your way into the Year of the Tiger:

Join Home Credit’s Online Madness Sale

N the northernmost town of La Union lies Bangar, the smallest municipality in the province known for its handwoven cloth called Abel. Until early this year, Barangay Rissing in Bangar was what could be considered a dead spot. It was practically isolated from the rest of the world due to the absence of any communication facility. With the recent construction of a Globe cell site equipped with 4G LTE, Barangay Rissing was brought to life. Connectivity allowed its residents to get in touch with friends and loved ones who live far away. It gave them another form of entertainment and even opened their eyes to new ways of doing things. One of those who take advantage of Globe’s strong call, text, and data signal is Alvin Nelmida. Since Alvin spends all day in the fields as a farmer, he turns to his trusted mobile phone to relax and have a little fun after the grueling work. “Mahirap ang maging magsasaka kaya pagkatapos naming magtrabaho sa bukid,

Facebook, YouTube ang sinisilip ko para maka-relax man lang ako,” he shared. But watching videos for entertainment is not the only thing Alvin does. He also uses social media to gain new knowledge about planting online. “Marami rin akong natutunang bagong technique pag nag-o-online ako,” he said. Alvin adopts his learnings online to farming to achieve a better yield. Bangar is primarily agricultural, producing rice, corn, sugar cane, peanuts, sweet potatoes, vegetables, and Virginia tobacco. But most of all, Alvin can now bond with his wife who works abroad. “Mahirap ang relasyon namin kasi nasa malayo siya pero gumagaan ‘yung loob ko kapag nakaka-video call ko siya. Malaki talaga ang naitutulong ng cell site,” he narrated. These were made possible due to Globe’s tireless efforts to expand and upgrade its network. Globe has made it a mission to deliver #1stWorldNetwork to Filipinos anywhere in the country. "Internet connectivity

is a life essential. It allows relationships and local community activities to flourish. This drives all our teams in ensuring that no one is left behind when we deliver our services even in far-flung areas. They also deserve fast and reliable connectivity that the Globe 4G LTE network brings,” said Marge Dizon, Globe Vice President for Program Delivery, Network Technical Group. As the country’s Leader in Mobile, Globe was able to build 1,407 new cell sites nationwide in 2021. It has also upgraded and expanded 22,300 mobile sites during the said period. Over 2,000 5G outdoor sites and inbuilding solutions (IBS) have been installed. Globe strongly supports the United Nations Sustainable Development Goals, specifically UN SDG No. 9, which aims to build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation. It is committed to upholding the United Nations Global Compact principles and contributing to 10 UN SDGs.

RE you ready to roar? Welcome the Year of the Tiger right and kick it off with good luck and prosperity. In addition to the feng shui and lucky charms that we have gotten used to, good fortune really starts with good tipid habits especially when it comes to your big-ticket home appliance purchases. If you want to keep the money flowing into your pockets, you need to be wiser with the way you spend it. In celebration of the Chinese New Year, the country’s leading buy now, pay later (BNPL) company and digital consumer finance service provider, Home Credit, is here to bring you luck and prosperity. With their Online Madness Sale, score huge discounts and enjoy exclusive promos so you can save from your home appliance and electronic purchases this year. Want to know how? Let us show you. nGET THE BEST DEALS. Join the Online Madness Sale using the My Home Credit App’s Marketplace which lets you compare prices and specs for any item you wish to purchase. With this feature, you can choose the perfect deal that works for you and your budget. nINVEST IN DURABLE COMMODITIES. Why purchase a cheap item that won’t

even last a year if you can save more when you invest on a product that will last longer? No need to buy new items year in and, year out because Online Madness Sale’s low monthly installments will let you have your much needed (and wanted) home appliance or electronic gadget affordably. Sulit na sulit ang deals with its affordable price and trusted durability! nSAVE MORE WITH DISCOUNTS. Nothing makes you feel luckier than bagging exclusive discounts from you purchases and with Online Madness Sale, everyone will be enjoying discounts of up to 50% off from a wide selection of discounted items such as

electronic devices, gadgets, home appliances, sporting equipment and many more! Turn your luck into reality and join Home Credit’s Online Madness Sale happening from February 1 to 28, 2022. Sit tight, shop safely at your home, and have your loans pre-approved in the My Home Credit App. Exclusive promos are up for grabs so keep your online or instore shopping carts ready to take home the best items out there. Per DTI Fair Trade Permit No. FTEB – 134688 Series of 2022. Visit www.homecredit.ph or Home Credit’s official accounts on Facebook, Twitter, YouTube and Tiktok for the complete mechanics.

Chinese New Year A BusinessMirror Special Feature

Tuesday, February 1, 2022

SPRING CLEANING IN TAIWAN

Why the Taiwanese want a clean slate before the Lunar New Year By Jeahan Virda De Barras

AM a nervous wreck, I think to myself, staring at the mirror. Today, he is picking me up ahead of the holidays to go and experience an authentic Taiwanese celebration of the Lunar New Year in his hometown, a few hours away from the place where I live. “That means he’s serious about you, he really wants you to meet his family,” my friend said when I shared with her my plans for what is considered the biggest and most important season in all of Taiwan. I couldn’t help but get excited by the idea of it, and the recent mood of my surroundings have certainly added up to that anticipation. Spring is already in the air here in the Eastern countryside of Taiwan, and the official holidays haven’t even started yet. What is usually a quiet, laid-back setting has suddenly turned into a hodgepodge of lively activities. Prosperity music is blasting everywhere. Strangers are handing out bills in red envelopes (otherwise known as 红包 or hóngbāo). University students are taking a break from their routine and packing their

A night market in Hualien City in Taiwan. JEAHAN VIRDA DE BARRAS

bags to go back home if only for a little period. The downtown is filled to the brim with bright red lanterns. Malls are hosting massive sale events. Restaurants are packed with long queues of people hoping to get a festive meal to celebrate with loved ones they haven’t seen in over a year. Even the piercing

cold air is suddenly pleasant. Everyone seems to be up on their feet, doing something worthwhile during this time of the year. And when you’re a foreigner who is away from home, loved ones, and every single comfort you’ve had for most of your life, this season can also prove to be the loneliest.

But this time, it’s different. This time, I have him. I am halfway through packing his favorite spicy adobo I prepared to give to his family, when I receive a message from him, saying that he’s already waiting downstairs. He’s surprisingly early, I think to myself. I quickly finish everything to go and meet him. He greets me with the biggest smile. “Happy New Year,” he says, in his adorable Taiwanese accent. We load up my stuff in his car and we’re off. “Oh, I need to buy some cleaning supplies,” he suddenly blurts. “What? Cleaning supplies? What for? Aren’t we going to attend a party and celebrate?” I ask, jokingly. He explains to me that it’s Taiwanese tradition to do a springcleaning blitz at home during this time of the year. It is believed that by doing so, families can get rid of any bad luck that can be looming in their way. They also need to get rid of old and unused items to make room for more good luck to come into the household. “We need to do it today, before the Lunar New Year holiday officially begins tomorrow,” he adds, say-

YEAR OF THE TIGER

ing that it’s already considered bad luck if one does the spring cleaning during the actual holidays because it could mean sweeping away the good luck that has already arrived. Settling everything he needs for the annual spring cleaning, we head to our destination. When we arrive at his impressively massive childhood house, his older sister is waiting by the door to say hi. “Oh, you’re the Filipino girl, right?” She asks me, and I am taken aback. What does that even mean, I think to myself. She guides us to their back porch where many elderlies are gathering around, having their afternoon tea and mooncakes. They’re all smiles and friendly seeing the two of us arrive, but I already feel left out for some reason. His mom comes up to us, and I hand her the nicely packed spicy adobo I brought. In return, she gives me a smile I can’t quite decipher. His mom is not capable of speaking English, so as much as I want to get to know her better, we aren’t able to talk beyond the basic mandarin I’m capable of doing. A few minutes later, I see him talking with his mom, their conversation seemingly serious. I can’t shake off the feeling that something isn’t right. The rest of the day comes by in a blur, and we’re suddenly in his room, doing a last-minute spring cleaning. He shows me a glimpse of his memories growing up. A traditional Taiwanese boy who grew up in a well-off family with a stable farming business, he says he spent most of his years just studying and

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living up to the strict expectations of his parents. More than 10 years later, his parents still have the same level of expectations from him. “You look like you come straight out of a typical Asian drama,” I joke. He just remains silent, distancing himself by making the final touches of cleaning his room. After dinner, we head back home. He is unsettlingly quiet the entire night. When we arrive back outside my apartment, he turns to me. I already have a gut feeling of what’s going to happen next, and it’s making my heart ache more than I’d like to admit. “I really like you,” he says. “But I still need a Taiwanese girl to be serious with. Someone who can understand our culture better and who can help take over the business someday.” “I didn’t want to hold you down with such pressure because I know you still have big dreams you want to fulfill,” he adds. “Why did you bring me to your hometown, then?” “Because I really like you. I was hoping they’d give it a chance. But I realized we’re both really from two different worlds.” I almost feel like slapping him. “So, is this goodbye?” I finally ask, my voice cracking. “I’m sorry.” he says. I get off his car, close the door, attempting my best not to look back. So, this is it. A spring cleaning, a clean slate. 新年快乐 (Xīn nián kuài lè) to the both of us, I guess.

A BusinessMirror Special Feature

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Tuesday, February 1, 2022 C2-1

PROVIDING FOR A HEALTHIER YEAR AHEAD WITH FUNCTIONAL INGREDIENTS By Christian Philippsen Managing Director BENEO Asia Pacific

OR many of us, a new year symbolises fresh beginnings. When it comes to new year resolutions, being healthier continues to occupy the top spots for a vast majority of people. But this is often easier said than done. As we celebrate the start of the Lunar New year today, consumers will be further challenged to uphold their resolutions while still being able to indulge in the festive snacks. This preference for healthier options is a good opportunity for food manufacturers to leverage. In fact, research from FMCG Gurus on behalf of BENEO shows that there is an overriding demand for healthy ingredients as consumers’ increasingly want to eat healthier, due to the pandemic. In addition, another recent study from BENEO showed that nearly half of consumers aged over 50 look for food to help them manage blood sugar levels. With Southeast Asia accounting for 90 million

diabetics, there’s a clear market for healthier alternatives that can help consumers better manage their blood glucose levels.

It all begins with a low glycemic diet…

THE good news is that scientific studies have shown that reducing blood sugar levels is relevant to health and the prevention of lifestyle-related diseases like diabetes. To enable that, carbohydrate-based foods with low or reduced glycemic properties should be the preferred food choices. Low glycemic diets are characterized by low blood glucose levels and correspondingly low insulin levels, which allows for a more balanced blood glucose response. This supports health and wellbeing in the long term, and benefits people of all age groups who thrive for a healthy diet and lifestyle. With a growing body of research pointing towards blood sugar management as a powerful tool in the war against diabetes but also obesity, and more consumers now realising its potential, the food and

drink industry has a clear opportunity. By incorporating BENEO’s range of functional and natural ingredients, they can create products with lower glycaemic indexes – a key requisite that allows for better blood sugar management and better overall health.

Balancing health and indulgence with blood sugar management

IT is important to look at the quality of the carbohydrates we consume – and carbohydrates that help to keep the blood glucose level under control are the way to go. There are two effective ways to minimise the glycemic effect of food products. The first is to modify the glucose supply with fully available, yet low glycaemic carbohydrates such as Palatinose™ (isomaltulose); ensuring the carbohydrate energy enters the body in a balanced way. The second is to reduce overall glucose supply by sugar replacement, using partially (e.g. the sugar replacer ISOMALT) or non-available carbohydrates (e.g. the prebiotic fibres Orafti® Inulin and Orafti® Oligofructose).

Derived from the sugar beet, Palatinose™ has a mild sugar-like sweet taste. It supplies the body with the same amount of energy as other common, high glycaemic carbohydrates, but in a more balanced way. The slower yet complete digestion and absorption of Palatinose™ is characterized by a slower, longer

lasting, and steadier blood glucose response, without the significant drops in blood glucose associated with conventional high glycaemic sugars. This lower and more balanced blood glucose response results in less insulin release and an improved metabolic profile, which helps consumers whose new year resolution is to manage their weight. Alternatively, better blood sugar management can also be achieved by replacing available carbohydrates with partially (e.g. the sugar replacer ISOMALT) or non-available carbohydrates (e.g. chicory root fibres). ISOMALT, the only sugar replacer from beet sugar, has a very low effect on blood sugar levels and does not trigger insulin release to any significant extent. With its sugar-like taste, this bulk sweetener can replace sugar in a 1:1 ratio in various applications. Similar to Palatinose™, ISOMALT also carries an EU health claim for being toothfriendly, as well as a US health claim for not promoting tooth decay. BENEO’s functional fibres inulin and oligofructose, are also additional options when looking to re-

duce the glucose supply of foods. They are both prebiotic fibres, naturally derived from the chicory root, and they both have a mild and pleasant taste. Partially replacing high glycemic sugars, these chicory root fibres effectively reduce the glycaemic response of foods while still offering excellent sensorial taste and texture. At the same time, inulin and oligofructose also enrich foods with prebiotic fibre content, thus helping consumers to reach the recommended level of dietary fibre intake and boosting digestive health.

Smoothening the road to a healthy lifestyle

THE widespread saying, “new year resolutions are meant to be broken” holds less weight in the face of functional ingredients. Their ability to promote a lowglycaemic diet without compromising on taste makes it easier for consumers to stay committed to their resolutions. With these healthier alternatives readily available for use, food manufacturers are more well-positioned than ever to support consumers with their fitness goals for the year.

Chinese New Year A BusinessMirror Special Feature

C2-2 Tuesday, February 1, 2022

YEAR OF THE TIGER

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CNY Flash Sale at Holiday Inn and Suites Makati

HIS month of February calls for a celebration. Holiday Inn and Suites Makati is excited to usher in the Year of the Tiger with good fortune and special treats as we celebrate the Chinese New Year.

Feel extra lucky as good fortune awaits you this Year of the Tiger. As a treat, catch the first promo deal of the year with Holiday Inn and Suites Makati’s Chinese New Year Flash Sale happening on January 30 to February 2, 2022. Celebrate with Holiday Inn and Suites Makati as it offers an exciting deal for staycation with

family and friends. Avail of the Flash Sale for a standard room at Php 4,088 nett on weekdays, Monday to Thursday and Php 5,088 nett on weekends, Friday to Sunday. The rate is for room only and good for single or double occupancy. An additional fee of Php 1,200 net to enjoy breakfast for two persons. The stay period is from

January 30 to September 30, 2022. Enjoy more time as you plan your staycation and indulge on a shopcation spree on any of your holiday break as Holiday Inn and Suites Makati’s direct access to Glorietta Mall gives you more option for an enjoyable vacation. For bookings and reservations, please call +63 2 79090888 or email hism. reservations@ihg.com. The hotel services and operations are in adherence to local government guidelines and subject to change based on market conditions. Blackout dates apply on February 12-14 and April 15-17, 2022. This is valid for direct bookings only. What’s more? Holiday Inn and Suites Makati’s Flavors Restaurant is introducing the Good Fortune Lauriat Sets in celebration of the Year of the Tiger. Choose from three (3) curated special Chinese sets for

Php 300 nett as you celebrate Chinese New Year with good food and fortune! There are more special treats as the chefs at Holiday Inn and Suites Makati prepared a special Tiger Roll Cake for Php 575 nett to celebrate the year of the Water Tiger this February. Available for takeout and delivery on February 1 to 28, 2022. For orders and inquiries, please contact +63 2 75068132 or Viber +63 917 5968897 or check out the online store at https://bit.ly/ HISMOnlineStore. To know more about the promos and offerings, visit www.makati.holidayinn.com. Like and follow Holiday Inn and Suites Makati’s official Facebook and Instagram page at HolidayInnMakati. Not yet a member? Join the IHG Rewards at https://bit.ly/ JoinHISMIHGRewards.

LUCK AND FUN FOR TIGER TOTS AT TOY KINGDOM

ELEBRATE Chinese New Year with Toy Kingdom’s cuddly toy tigers that kids – and kids at heart - would love to hold, hug, and snuggle at night. Adorable as they are, these are a supposed to bring a roaring share of luck, laughter, passion, and adventure in the Year of the Tiger. There are adorable and colorful plush tigers with stripes and sparkling eyes, as well as cute and fluffy Kawaii Tigers. They are perfect gifts for tiger tots who are born with all the charm and optimism they will need to navigate the ebb and flow of fortune in life. They possess big hearts, and naturally dispense love and charity to those people and interests that capture their imagination – from family and pets to the needy and downtrodden of the world. Charismatic and bright, little tigers are ultimate optimists and will always bounce back from any setback, much like Tigger in Winnie

Spread the luck and fun with lovable Tiggy with his stripes and sparkling green eyes.

Winky Pinky Asia Tiger Beanie.

Tundra, the little white tiger is the fluffiest TY Beanie.

the Pooh. Their insatiable curiosity about life will lead them into more than their fair share of adventures, sometimes resulting in scrapes, but you can’t keep a good cat down. Tigers are natural born leaders, always looking to bring folks together, put their brilliant ideas into practice, and ensure that equality reigns. Welcome the Year of the Tiger with Toy Kingdom’s collection of fluffy and adorable tiger inspired plushies that will surely bring luck and lots of fun into your homes. Get them via Toy Kingdom’s Call to Deliver services at 0917.5578797 and have a personal shopper assist you and your kids to virtually select toys. Check out the latest toys at www.toykingdom.com.ph. Follow ToyKingdomPH in Facebook and Instagram.

Adorable Kawaii Tiger plush with Crown

Celebrate the Year of the Tiger with the We Bare Bears trio on Tiger Print shirts.

Tag along these TeenyTY Tabor and Tundra plushies wherever you go.

Chinese New Year

C2-4 Tuesday, February 1, 2022

A BusinessMirror Special Feature

YEAR OF THE TIGER

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NONOY LACZA

ed by this. Additionally, the sale of alcoholic drinks is also prohibited today. “We are asking the Filipino-Chinese community not to allow dragon dances and firecrackers,” Moreno said. The pandemic has taught Filipinos to find more creative ways to celebrate special occasions. These creative ways would mean just staying at home and enjoying the food that you had delivered. This photo essay has compiled photos that were taken two years ago and those that were taken just a few days ago. Things have truly changed in such a short period of time.

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Here’s another colorful dragon dance celebration in the vicinity of SM North Edsa. To usher in the new Lunar New Year, people hang bundles of palay in and around the house. This symbolizes prosperity. If you are not too keen about going to Binondo to get that Chinese New Year feel, why don’t you trek down to the nearest SM Mall? A mall goer at SM North Edsa in Quezon City stops to enjoy the giant tiger figure.

ROY DOMINGO

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Since it’s the Year of the Tiger, it is believed that owning this gold colored tiger figurine is going to bring luck to everyone. The Chinese New Year celebration would not be complete without a visit to a Chinese temple to burn incense and pray. People believe that burning incense and praying on the first day of the Chinese New Year will make their wishes more readily heard by Buddha. The Quezon City government has also banned mass gatherings for the Chinese New Year celebration but this did not stop this group from performing the traditional dragon dance.

BERNARD TESTA

HE Covid-19 pandemic has wreaked havoc once more in the entire Binondo Chinatown area.

For the second year in a row, Manila Mayor Francisco “Isko Moreno” Domagoso has canceled all activities in relation to the celebration of Chinese New Year or the Lunar New Year in the entire Binondo Chinatown area. According to Executive Order No. 11, 20 barangays will be affect-

BERNARD TESTA

With photos by Roy Domingo, Nony Lacza, Nonie Reyes and Bernard Testa

NONOY LACZA

NONIE REYES

A PANDEMIC CELEBRATION OF CHINESE NEW YEAR