BusinessMirror February 08, 2024 by BusinessMirror

PHL manufacturing output slows to 4.4% in ’23

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HE Philippine manufacturing sector’s output slowed to 4.4 percent in 2023 due to doubledigit declines in several commodity groups, according to the latest data released by the Philippine Statistics Authority (PSA). Based on the Production Index and Net Sales Index, PSA said the factory production in 2023 slowed from the 15.1 percent average posted in 2022. Commodities that posted double-digit contractions in 2023 were led by wood, bamboo, cane, rattan articles, and related products with 25 percent; wearing apparel, 24.3

percent; and leather and related products, including footwear, 23.1 percent. “The annual average rate in VoPI for manufacture of food products declined in 2023 by 1.8 percent from a 5 percent annual average increment in 2022,” PSA also said. Products t hat propped t he manufacturing sector’s output last year were commodities such as coke and refined petroleum products which increased 33.2 percent; electrical equipment, 2 5. 8 p e rc e nt ; a nd t r a n s p or t equipment, 23.4 percent, among others.

In December 2023, the Volume of Production Index (VoPI) posted a growth of 2 percent, faster than the 1.8 percent posted in November 2023 but slower than the 4.5 percent in December 2022. “The expansion in the annual growth of the VoPI in December 2023 was mainly brought about by the slower annual decline in the manufacture of food products at 1.4 percent in December 2023, compared with its annual drop of 4.9 percent in the previous month. The manufacture of food products contributed 34.5 percent to the uptrend of VoPI for the manufac-

turing section in December 2023,” PSA said. The main contributors to the growth of the VoPI were the manufacture of basic pharmaceutical products and pharmaceutical preparations at 38.2 percent in December 2023 from a contraction of 23.4 percent in December 2022. T h i s w a s fol lo w e d b y t he manufacture of fabricated metal products, except machinery and equipment which contracted 12 percent during the period from a 23.5-percent annual decrease in the previous month.

BusinessMirror Thursday, February 8, 2024 Vol. 19 No. 116

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PHL NOT A TIGHT LABOR w

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MARKET—EXPERTS, PSA By Cai U. Ordinario

@caiordinario

ESPITE the record-low unemployment rate in December last year, economists and the Philippine Statistics Authority (PSA) are not convinced that the country already has a tight labor market.

Based on the results of the latest Labor Force Survey (LFS), the PSA said the country’s unemployment rate averaged 3.1 percent in December 2023 and 4.3 percent in 2023. The 3.1 percent rate in December is a new record low in the series that began in 2005. Given this, the country’s employment rate averaged 96.9 percent in December 2023 and 95.7 percent in 2023. The PSA said the rate in December is also the highest since 2005. “It’s not yet a [tight labor market]. Although, economists should look at ano ba yung ating [what is our] natural rate of unemployment. Pero wala pa naman kaming nakikita [But we have not seen anything]. We will see in the next surveys,” National Statistician Claire Dennis S. Mapa told BusinessMirror on the sidelines of the LFS briefing. “The economists should estimate the natural rate of employment.... So we can see if we’re nearing it; so right now, I don’t know whether [the] 3.1 percent [approximates it]. Anyway, it’s just one month so perhaps [we’ll have] more information in the first quarter, we will see,” he also said. De La Salle University economist Maria Ella Oplas describes a tight labor market as an economic condition where “there are more job openings available compared to people looking for work.”

Hires, fires, quits

FOR his part, Former Socioeconomic Planning Secretary Dante V. Canlas said it is better to use data on hires, fires and quits to determine the natural rate of unemployment. “The natural rate of unemployment is a theoretical construct that is best understood in labor-market models where search by both labor and firms is taking place always,” Canlas said.

COUNTDOWN As Chinese New Year approaches, the streets of Binondo, the oldest Chinatown in the world, burst with vibrant hues. Displayed for sale are a myriad of colorful lucky charm ornaments, each believed to bestow luck and prosperity according to Chinese feng shui beliefs. NONIE REYES

TEACHER-EDUCATION SCHOOLS WITH ZERO PASSERS BEHIND PISA DEBACLE? By Claudeth S.Mocon-Ciriaco @claudethmc3

HE call to shut down low-performing teacher education institutions (TEIs) floated anew as the Senate Committee on Basic Education probed the recent outcome of the Organization for Economic Cooperation and Development’s 2022 Programme for International Student Assessment (PISA) on Wednesday. However, Committee on Basic Education chairperson Sen. Sherwin Gatchalian said that he is not after the shutting down of low-performing TEIs but the need to extract “accountability” in teacher education.

“[These] TEIs will just go through their usual business and they get subsidy through higher education, and then the student will have to pay their extra expenses...there’s no point, eh! I can see that it filters to our education system,” Gatchalian said, noting that teachers are the most important resource in a student’s education. “My point there, it’s affecting [the performance of students] . because it starts with the TEIs; hopefully we produce highly qualified teachers. Eventually they will end up in our public schools and eventually PISA results will demonstrate that quality,” the senator added.

Senator Nancy Binay also expressed dismay and suggested that there should be a policy for TEIs with zero passing rate, similar to schools offering a nursing program. Gatchalian echoed this by saying, “But what we want to see is the accountability in teacher education because it starts with pre-service. But if we are seeing that our TEIs are not up to par, not compliant with minimum standards... or else it’s a waste of resource. He recalled that the Commission of Higher Education (Ched) had flagged the same problem “three or four years ago.” See “Teacher-education,” A2

See “Labor market,” A2

PESO EXCHANGE RATES n US 56.2610 n JAPAN 0.3803 n UK 70.8776 n HK 7.1923 n CHINA 7.8267 n SINGAPORE 41.8609 n AUSTRALIA 36.6991 n EU 60.5087 n KOREA 0.0424 n SAUDI ARABIA 15.0026 Source: BSP (February 7, 2024)

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A2 Thursday, February 8, 2024

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Senators inclined to approve bill on ₧100 daily wage hike T

By Butch Fernandez

@butchfBM

HE Senate on Wednesday opened plenary deliberations on a bill granting a P100 hike in the daily minimum wage for private sector workers in the entire country, with several senators expressing strong support for the measure pushed by Senate President Miguel Zubiri himself, despite opposition by business groups and some economists. The bill proposing a P100-daily minimum wage increase is estimated to benefit over 4.2 million minimum wage earners, and was sponsored in plenary by Senator Jinggoy Ejercito Estrada, chairperson of the Senate Committee on Labor, Employment and Human Resources Development. From the original proposal of a P150 daily wage increase, Estrada

said his committee recommended a P100 daily pay hike as almost all regional wage boards have already responded to the workers’ clamor by ordering an increase ranging from P30 to P90 last year. “Even as we recognize the wage hikes mandated by regional wage boards, their impact seems to have been wiped out by the continuing rise of prices of basic goods; hence,

Teacher-education...

Continued from A1

Karol Mark Yee, executive director of EdCom II, disclosed during the hearing that there are over 70 TEIs offering a Bachelor of Elementary Education and 120 plus offering Bachelor of Secondary Education, but with “zero passing rate but are still in operation” in the past 10 years. An alarmed Gatchalian blurted out,

“this is not only a waste of resources but they are also not passing and also they end up in our system.” He called it a “double whammy.” Following the PISA result last year, Ched said it is willing to help the Department of Education. “More importantly, we want to realize the national education vision laid out in the Philippine Development Plan (2023-

we are pushing this,” Estrada said, partly in Filipino, in his sponsorship speech on Senate Bill No. 2534. Estrada clarified that “while the minimum wage in Metro Manila for the non-agricultural sector consistently recorded the highest basic pay in the country at P610 per day, however, the actual daily pay is eroded by inflation.” He noted t hat t he rea l va lue of t he minimum wage —whic h ref lects the inf lation-adjusted rates using the consumer pr ice inde x—has fa l len to P514. 50 in t he capita l as of Ju ly 2023 and f ur t her decreased to P504 for October 2023, and this scena r io is repl icated across a l l reg ions. Upon consideration of the existing socioeconomic conditions and positions of various sectors, “it is incumbent upon us to propose a

2028) in order to ensure that all Filipinos are able to realize their full potential to keep pace with the envisioned socioeconomic transformation,”CHED Chairman Prospero de Vera III said in a statement. De Vera said among the help they would extend to the DepEd is to engage colleges and universities whose teacher programs are centers of excellence or development, in order to study details of country reports to provide solutions for the DepEd.

daily pay hike to help alleviate the burden of Filipinos in the face of soaring prices of basic commodities and rising cost of living,” the senator said. He also argued that the prevailing minimum wage is even further away from meeting the basic needs of workers’ families which is estimated at P8,379 per month. While inflation is slowing— it was 2.8 percent in January 2024—this does not mean that prices of goods are declining, he explained. “In fact, rice inflation hit 22.6 percent, the highest since March 2009, and the prices of other goods are steadily rising, amid the price hikes for electricity and gasoline.” Besides Zubiri and Estrada, Majority Leader Joel Villanueva and Sen. Pia Cayetano also took the floor to express support for the measure.

PHL...

Continued from A1

The PSA also said eight industry divisions registered year-onyear increases in December 2023. In contrast, 11 industry divisions posted annual declines during the period. The highest annual drop was observed in manufacture of wood, bamboo, cane, rattan articles and related products at 55.3 percent. Meanwhile, the VoPI for manufacture of food products registered an annual drop of 1.4 percent in December 2023. This was slower compared with its annual decline of 4.9 percent in November 2023. In December 2022, VoPI for manufacture of food products recorded an annual decrease of 0.8 percent. “The slower annual decrease of VoPI for manufacture of food products in December 2023 was primarily driven by the same top three industry groups that contributed to the slower annual decline of VaPI for manufacture of food products during the period,” PSA said. The PSA also said the average capacity utilization rate for the manufacturing section in December 2023 was reported at 74.3 percent from 74.8 percent in the previous month. Data showed all industry divisions reported capacity utilization rates of more than 60 percent during the month. The top three industry divisions in terms of reported capacity utilization rate were manufacture of rubber and plastic products at 80 percent. This was followed by the manufacture of machinery and equipment except electrical at 79.8 percent; and manufacture of beverages at 79.6 percent. “The proportion of establishments that operated at full capacity [90 percent to 100 percent] was 27.4 percent of the total number of responding establishments. Meanwhile, 39.4 percent operated at 70 to 89 percent capacity, and 33.2 percent operated below 70 percent capacity,” PSA said. The Production Index and Net Sales Index used to be the Monthly Integrated Survey of Selected Industries. It continues to monitor the production, net sales, inventories and capacity utilization of selected manufacturing establishments to provide flash indicators on the performance of the manufacturing sector. Cai U. Ordinario

Labor market...

Continued from A1

Regardless of the measurement, such a condition, Mapa said, would prompt employers to increase wages in order to attract the workers they need. Wage hikes can be a cause for higher inflation. Wage inflation, Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said, is the test of labor tightness. However, wages in the Philippines remain relatively lower compared to other countries. “Wages are still relatively lower compared to other countries. That is the test of labor tightness, if wage inflation would also reflect it. This may also be a function of population growth that slowed down in recent years,” Ricafort told BusinessMirror on Wednesday. “When employers start to pay a premium to attract talent. [But] there is also competition from overseas market, or OFWs deployed amid aging population in some developed countries,” he also said. However, Canlas said it is “misleading to believe” that the country already has a tight labor market. He noted that the country’s underemployment rate remains high or in double-digits. In December 2023, PSA data showed underemployment rate was at 11.9 percent and averaged 12.3 percent in 2023. The underemployed data covered 6.01 million Filipinos in December 2023 and 5.95 million in the full year or the whole of 2023. The ranks of the underemployed include 2.35 million invisibly underemployed persons who, despite working 40 hours a week, are still looking for additional work hours due to low incomes. The number of invisible underemployed Filipinos increased by 129,000 in December 2023 compared to December 2022. “Although the open unemployment rate at slightly over 4 percent suggests a tight labor market, it is misleading to believe so at this point,” Canlas told BusinessMirror. “I base my answer on the high underemployment rate, which indicates a slack labor market. Underemployed workers seek additional work even if they’re fully employed. This means the latter are employed but at low wages,” he added.

Capital Region (NCR) where many Filipinos are looking for jobs and could not get employment. For this reason, Oplas said she supported the “balik probinsiya” program of the past administration. This will increase labor supply of skilled workers in provinces to boost economic growth in these areas. “The program can be a success if local governments are able to attract investments to their areas for rural development, and decentralization of development is key,” Oplas told this newspaper. Meanwhile, Ateneo de Manila University economist Alvin P. Ang said computing the natural employment rate is not relevant as it is heavily biased toward elementary occupations and low-end services. Ang said even if the country is hitting the natural rate now given the latest employment data, Filipinos are still not better off because of low-paying jobs. “[The labor market is] tight it seems. But I’ll look more for higher quality and higher paying jobs in the medium term,” Ang said. His fellow ADMU economist, Leonardo Lanzona, told BusinessMirror he estimates the natural unemployment rate to be around 5 percent. Thus, he believes the labor market is already tight. Lanzona lamented that, similar to the points raised by Ang, access to quality jobs has been more limited. Lanzona said while there are opinions such as digitalization improving the employment prospects of Filipinos, only those with high skills will be able to access these jobs. This makes self-employment the basic trend. “The still elevated inflation rate indicates an overheated economy, thus suggesting that the current unemployment rate of roughly 4 percent is lower than the natural rate of unemployment,” Lanzona told this newspaper. “I would think that if inflation is reduced to 2 percent from the current 3.9 percent, the unemployment rate will be 5 percent, which is my estimate of the natural unemployment rate,” he added.

Digitalization factor

TO address concerns regarding tight labor markets, Lanzona said the government must spur the economy towards a greater growth path. Lanzona said this means creating regulations in digitalization and online labor platforms to ensure that the new technology does not replace jobs but increase labor productivity. Canlas said government should also support the creation of an educated and trained labor force with employable skills. The government should encourage and facilitate capital accumulation or investments among enterprises, he added. The former National Economic and Development Authority (Neda) Secretary also said the government must ensure “smooth employeeemployer relations to promote productivity in the workplace.” “Given that a job-matching process is constantly taking place in labor and occupational markets, the government can facilitate job matching through the provision of quality labor-market information,” Canlas said. Earlier, Moody’s Analytics noted that the country, like the United States, already had a tight labor market and this was instrumental in the country’s recent economic performance. Moody’s Analytics said the country’s 2023 economic performance was mainly driven by consumption spending. The 5.6-percent GDP growth, the think tank said, was better than its forecast of 4.9 percent as well as the 5.2-percent average growth expectation of the market. However, this remained below the government’s 6 to 7 percent target.

APART from this, HSBC ASEAN economist Aris Dacanay told this newspaper via email that digitalization is also preventing the labor market from being tight. Through digitalization as well as other rising and niche sectors, Dacanay said, more workers are encouraged to join the labor market. The latest PSA data supported this as labor force participation improved. In December 2023, the labor force increased to 52.13 million from 51.22 million in December 2022. The labor force participation rate also improved to 66.6 percent from 66.4 percent in December 2022. In 2023, Filipinos who are part of the labor force increased to 50.38 million, representing a rate of 64.9 percent. This is higher than the 49.56 million or rate of 64.7 percent posted in 2022. For Unionbank Chief Economist Rubel Carlo Asuncion, another reason the labor market is not yet tight is the seasonality in the improvement in employment data. “The low unemployment rate as of late [fourth quarter 2023)] has been largely due to seasonality [as confirmed also by Undersecretary Claire Dennis S. Mapa] due to higher demand for labor during the holidays [producing temporary jobs]. We have yet to see the next data points and see where the Philippines lies,” Asuncion told BusinessMirror Meanwhile, Oplas said labor market tightness may not be felt nationwide but it is the case in rural areas. In rural areas, it’s difficult to get workers because workers are “overemployed.” This, Oplas said, is not the case in Metro Manila or the National

Ways forward

Thursday, February 8, 2024

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

‘Creeping silent disaster’: 3 buses buried in Davao de Oro landslide By Manuel T. Cayon @awimailbox

INDUCTION RITES FOR CAMI OFFICERS Former President now Pampanga Rep. Gloria Macapagal-Arroyo inducts the incoming set of officers and Board of Trustees of the Capampangan in Media Inc. (CAMI) Tuesday in Quezon City. Macapagal-Arroyo, who represents the second district of Pampanga in Congress, urged the new officers to work for the attainment of CAMI objectives of defending the freedom of the press, maintaining the highest ethical standards of journalism, helping upgrade the competence and welfare of Capampangan journalists, and promote the culture and positive traditions of fellow Capampangans. Photo shows (from left) Trustee Willie B. Villarama, former Manila Times president; Trustee Roly Eclevia (freelance writer); Trustee Numeriano “Ner” Dayrit (PR consultant, partly hidden); Trustee Federico “Dik” Pascual (multi-awarded columnist); Auditor Ric Sapnu of Philippine Star; Treasurer Abel L. Cruz of ALC TV Productions; Vice-President Gadmer Layson, vlogger and Pilipino Star reporter; Vice-President Robert Mananquil, former OPS undersecretary; Vice-Chairman Mario Garcia, broadcaster; Chairman Dionisio “Nonnie” L. Pelayo, retired editor; Trustees Romy Dizon of Manila Standard and Willie Capulong (both not in photo) President Vittorio V. Vitug of the BusinessMirror and former President Arroyo.

House committees OK medical marijuana use, but health expert Leachon sees ‘risks’ By Jovee Marie N. Dela Cruz @joveemarie

HE House Committee on Dangerous Drugs and the House Committee on Health on Wednesday jointly approved in principle the substitute bill legalizing the medical use of cannabidiol (CBD). The approval came after the recommendation of a technical working group, headed by Batangas Rep. Gerville Luistro that drafted and consolidated the related bills. The two committees are expected to approve the committee report on the proposal in the coming weeks. Camarines Sur Rep. LRay Villafuerte, one of the principal authors of the bill, clarified that medical cannabis refers to cannabidiol, or CBD, the non-addictive, non-intoxicating strain of the cannabis (marijuana) plant, which is different from tetrahydrocannabinol (THC), which is classified in the Philippines as illegal as it delivers the euphoric “high” leading to addiction. Villafuerte said that Israel, considered the cannabis research capital of the world, is now effectively using medical cannabis to treat cancer, epilepsy, Parkinson’s disease, and many other serious health conditions. He also said the bill should not be deemed in any manner to advocate, promote, authorize, or legalize the recreational or non-medical use of the cannabis plant. House Committee on Dangerous Drugs Chairman Robert Ace Barbers also assured that the bill legalizing medical marijuana is only for medical purposes. Barbers said violators of the proposal would face a fine of not less than P500,000 up to P1 million and imprisonment up to 6 years. The bill said the State has long pursued an intensive and unrelenting campaign against illegal drug trafficking, while aiming to balance and harmonize with the imperative to safeguard people’s right to health. Accordingly, the prohibitions outlined in RA 9165 and other related laws should not

extend to medical cannabis intended for the treatment and medication of qualified patients with debilitating medical conditions. The State’s policy thus dictates that access to medical cannabis shall serve only as a delimited exception to the prohibited acts involving cannabis or marijuana under RA 9165. The bill mandates the Food and Drug Administration (FDA) to ensure product registration of all medical cannabis products for potency, consistency, safety, and efficacy prior to their distribution, dispensation, and sale. Medical use, meanwhile, refers to the use of medical cannabis to treat or alleviate a qualified patient’s debilitating medical condition or its symptoms and shall include its acquisition, possession, transportation, delivery, dispensation, administration, cultivation, or manufacturing for medical purposes.

‘Risks’

BUT internal medicine expert Dr. Tony Leachon expressed concern over the potential risks associated with the approval of the medical marijuana bill, particularly amid the surge in vaping product usage. Leachon highlighted the potential harm and addiction exposure to children and the general population, citing potential challenges for the health-care system, especially considering the weaknesses in regulatory and enforcement agencies. “If cannabis is legal, does that send kids the message that it’s safe to use? If some people use it to try to relieve pain, sleep better, or cope with the symptoms of a serious illness, will young people assume it’s just another kind of medicine?” Leachon told the BusinessMirror. “These are valid questions to ask in the era of misinformation, disinformation, fake ads, and, more importantly, online selling,” he added. Leachon advocated for a cautious approach, emphasizing that cannabis remains a strictly regulated drug.

Romualdez reaffirms vow for ‘strong, modern and well-equipped’ military

OUSE leaders on Wednesday reaffirmed their commitment for a “strong, modern, well-equipped, and well-cared-for” soldier to protect the nation from both external and internal dangers. Speaker Ferdinand Martin G. Romualdez made the assurance during the Mindanao leg of the Armed Forces of the PhilippinesHouse of Representatives fellowship. Several lawmakers and military officers AFP chief Gen. Romeo Brawner Jr. attended the event at the 4th Infantry Division Headquarters in Cagayan de Oro City. Highlighting the significant increase in the defense budget to P285 billion for the current year, including the allocation of P1.23 billion for frontliners in the West Philippine Sea (WPS), Romualdez emphasized the legislature’s commitment to providing the necessary resources for a credible defense posture. He said the legislature has also reallocated funds, including P300 million to the National Intelligence Coordinating Agency, P100 million to the National Security Council, and P381.3 million to the Department of Transportation for the expansion of the airport in Pag-asa Island in the WPS. Beyond financial support, Speaker Romualdez detailed legislative initiatives,

such as House Bill 8969 creating a sustainable fiscal framework for military pensions, and other bills aimed at enhancing the military’s capabilities and welfare. He added that by taking these measures, Congress is “ensuring a robust defense posture, bolstering our land, air, and naval forces, and supporting peacekeeping missions.” The Speaker acknowledged Congress’focus on improving the lives of soldiers and their families, citing measures such as increased base pay, expanded health-care benefits, housing and educational programs, and the approval of the MUP (Military and Uniformed Personnel) Pension System Act. These collective efforts, according to Romualdez, symbolize a strong, wellequipped, and cared-for military, ready to uphold national sovereignty with honor and integrity. He urged continued collaboration for a free, united, peaceful, and progressive Philippines. “The steadfastness of our uniformed personnel in protecting our territorial integrity and remaining non-partisan amid political noise is truly commendable. Your unwavering duty as sentinels of our sovereignty in the West Philippine Sea and beyond is a stabilizing force for our nation,” he said. Jovee Marie N. Dela Cruz

& Claudeth Mocon-Ciriaco @claudethmc3

AVAO CITY—Three buses transporting a group workers of mining company in Maco, Davao de Oro were buried in a landslide on Tuesday night. Rescuers continue to dig through the rubbles and reported that they dug six bodies so far. Philippine Red Cross (PRC) Chairman and CEO Richard J. Gordon has ordered the immediate deployment of logistics and trained volunteers from nearby chapters to rescue the passengers of the three buses. “We are not allowed to enter until this morning. Our team was able to retrieve two injured workers, and we are working to transport them to the nearest hospital. We have PRC Welfare Volunteers in Davao Community Hospital who provided psychosocial first aid to 10 affected individuals,” said Gordon who received the news from a

satellite phone call from PRC-DMS Chapter Service Representative Marcid Van. Gordon described the incident as a “creeping silent disaster.” The Maco municipal government said in its first post in the website that two buses were initially reported but an information officer of the province told a television network that a total of three buses were buried. The information officer said that the passengers were workers of a mining company operating in Barangay Masara, some 60 kilometers east of Maco town. The landslide occurred in Masara. As of Wednesday, 31 of the bus passengers were rescued and were sent to different clinics and hospitals for treatment of their injuries. The municipal government said 46 were missing but it could not be immediately ascertained if they were among the passengers of the three buses. It said 758 families in the incident area were evacuated to the evacuation centers.

The landslide was triggered by the weeklong rain brought by the trough, or extension, of the low-pressure area south of Mindanao. Before the Masara landslide, the Office of Civil Defense recorded ten dead, all accounted by Davao de Oro, formerly Compostela Valley, an interior province marked by a mountain range whose slopes have been degraded by scattered diggings decades ago by fortune hunters in search of gold and by the mining operations in this gold and copper-rich province. Forty-five barangays had incidents of landslide, 38 of them reported in Davao de Oro. Seven landslides occurred in Davao Oriental. Davao de Oro also reporting flooding in 38 barangays, while Davao Region had a total of 61 flooded barangays, 15 of them also in Davao City and eight in Davao Oriental. The region reported 66 roads and road sections, and nine bridges that were rendered impassable, with the bulk of the incidents reported in Davao de Oro, with 50

impassable roads and four bridges. Houses partially and totally damaged tallied to 64 across the region. Some 46 local governments called off classes and 26 of them also included work suspension since Wednesday and advised their constituents to resume by Monday. The OCD also listed 413,663 residents affected by either the flood or landslide, most in Davao Oriental (184,485) because of its situation of being the coastal province facing the Pacific Ocean, and Davao del Norte (171,683) because it is the low-lying catch basin province draining the waters to the Davao Gulf. Gordon added: “As of now, our ambulance was quite a distance away, as the roads were destroyed and very muddy due to continuous rains, but we are making efforts to transport the injured to the ambulance.” As of Wednesday, in addition to the search and rescue operation, the PRC has also assisted the preemptive evacuation of 19 individuals from Barangay Masara in Maco and Barangay Andili in Mawab after the local government unit ordered a forced evacuation in the area. PRC is set to send Volunteer Response Emergency Vehicles (VERV), 6x6 trucks, food trucks, water tankers, and drones, and more personnel in the area to augment its current operations.

Galvez highlights ‘transformative power of amnesty’ for ex-rebels PBBM SETS GOAL administration of former President Fidel RESIDENTIAL Adviser on Peace, RecFebruary 6 hearing called for by the Senate FOR COMPLETION V. Ramos for his involvement in the 1989 onciliation and Unity (OPAPRU) SecCommittee on National Defense and Secucoup attempt. retary Carlito Galvez Jr. on Wednesday rity, Peace Unification and Reconciliation. OF CARP WITHIN “It was because of the visionary leadersaid the grant of amnesty is essential for The OPAPRU chief also noted that ship of President Ramos that yours truly, the transformation of former members of despite the strong desire of members of HIS PALACE TERM together with other rebel soldiers like revolutionary groups who previously took these revolutionary groups to be productive

citizens in their communities, “the looming threat of legal repercussions limits them to do so.” “They are torn between their desire to turn a new leaf, on one hand, and be held accountable for their political mistakes, on the other,” he said. Galvez also said that the issue of amnesty is close to his heart, saying, “I was once a rebel soldier.” He was granted amnesty during the

myself, more than 1,000 of us, regained our freedom,” he said. Galvez said he and his co-officers were not only forgiven by the State, but also reinstated in the Armed Forces of the Philippines, which provided them with “a chance to rebuild their lives” and continue their career in public service after their retirement in the military, demonstrating the “transformative power of amnesty.”

Dead before 30: PSA data show 1,407 die of ‘intentional self-harm’ in 2022

4,458 deaths; and accidental drowning and submersion, 3,576 deaths. The two external causes that killed the least number of Filipinos in 2022 were deaths caused by exposure to smoke, fire, and flames, which killed 413 Filipinos, and accidental poisoning by and exposure to noxious substances, 782 Filipinos. Overall, a total of 679,766 deaths were registered in the Philippines, a decrease of 22.7 percent from 879,429 in 2021. This is equivalent to a crude death rate 1 of 6.1, or six deaths per 1,000 population in 2022. This corresponds to an average of 1,862 deaths per day, which translates to 78 deaths per hour or about 1 death per minute. Deaths due to ischaemic heart diseases were the biggest contributors among the total deaths in 2022, making up some 18.3 percent (124,110) of the total registered deaths. This was followed by deaths due to neoplasms, at some 10.2 percent (69,433). Mortality due to cerebrovascular diseases (including stroke) ranked third at 10.1 percent (68,726). Diabetes mellitus was behind accounting for 6.3 percent (42,766) of the total deaths. By sex, a similar trend with some deviations in the ranking among the leading causes of death was obser ved, except that deaths due to the remainder of endocrine nutritional and metabolic diseases instead of respiratory tuberculosis were present in females. Cai U. Ordinario

arms against the government, “Amnesty does not only extinguish criminal liability for the acts committed by these former rebels. It creates a path toward their full transformation and enables them to return to mainstream society,” he added. Galvez emphasized that amnesty “will be the key to building a better and brighter future for themselves and their families and their communities.” He made these comments during the

VER a thousand Filipinos died of “intentional self-harm” before their 30th birthday in 2022, based on the latest death statistics released by the Philippine Statistics Authority (PSA). There were a total of 3,117 deaths caused by intentional self-harm in 2022. Of this number, 1,407 deaths were linked to intentional self-harm and were among Filipinos below 30 years old. The largest number of intentional selfharm cases was among the 20 to 24 year olds at 503 deaths, followed by 15 to 19 year olds at 428 deaths. “The mental health of young Filipinos has been at risk due to various behaviors and circumstances, with the pandemic further exacerbating the situation,” a recent study from the House of Representatives Congressional Policy and Budget Research Department said. The study was released in February 2023. The study said the crisis hotline of the National Center for Mental Health (NCMH) received a total of 11,017 calls in 2020, with 1,322 of them or 12 percent of the total are suicide-related. By June 2021, the study stated that

the share of high-risk calls increased to 30.7 percent, accounting for 2,743 suiciderelated calls of the 8,949 total calls received in the first half of the year alone. “The trend continued to worsen, with the share of high-risk calls reaching 33.4 percent or 4,978 of the 14,903 calls by September 2021. The majority of the callers were from Regions 3, 4, and the NCR, with more females than males, and a significant portion of them aged 18 to 30,” the study said. Based on PSA data, the first quarter of 2022 saw the highest number of deaths caused by intentional self-harm when 941 of these deaths occurred. In the first three months of 2022, the most deaths were logged at 327 in January, followed by March at 309 deaths and February at 305 deaths. This was followed by the second quarter when 796 intentional self-harm deaths occurred; the third quarter, 703 deaths; and the fourth quarter, 677 deaths. Meanwhile, deaths due to external causes amounted to 40,927 in 2022. Of this amount, the highest are transport accidents, which killed 12,249 Filipinos; other external causes, 11,936 deaths; falls, 4,396 deaths; assault,

Rex Anthony Naval

Five young EMB engineers, air quality specialists to fly with NASA scientists

HE Department of Environment and Natural Resources (DENR) will send five engineers and air quality specialists from the Environmental Management Bureau (EMB) to join top NASA scientists on board the scheduled scientific research flights from February 11 to 15 to study the atmosphere in Metro Manila and its surrounding regions from space to the surface of the earth. “The EMB team of young and dedicated engineers and air quality specialists will join the flights to learn and observe so we can build technical capacity and expertise,” DENR Secretary Maria Antonia Yulo-Loyzaga said in a statement Wednesday. The Philippine leg of the airborne field campaign is part of the Airborne and Satellite Investigation of Asian Air Quality (ASIA-AQ), a partnership that brings together experts from NASA of the United States, the DENR, and in collaboration with the Philippine Space

Agency (PhilSA), Manila Observatory, Ateneo de Manila University, and the University of the Philippines. Leading the team is Engr. Chadbert Nikko Aquino, a 29-year-old Electronics Engineering graduate who specializes as an ambient air quality monitoring. He is joined by Engr. Paul Vallar, also 29 years old, who has a background in Chemical Engineering and expertise in stationary source and ambient air quality monitoring. Meanwhile, 30-year-old Engr. Brix Faustino holds a degree in Applied Physics with a specialization in instrumentation and serves as another proficient ambient air quality monitoring specialist within the team. Adding to their expertise is Engr. Billy William Franco, aged 39, who is an Electronics and Communications Engineering graduate working as an Ambient Air Quality Monitoring Specialist at the DENR-EMB Region 3 office.

The fifth member of the team from the EMB is Engr. Zeus Aragones, 34, who is also an Electronics and Communications Engineering graduate, who serves as another Ambient Air Quality Monitoring Specialist at the DENR-EMB National Capital Region office. They will be joining the lead scientists from the United States, which will be led by Dr. Barry Lefer, NASA’s Tropospheric Composition Program Scientist; Dr. James Crawford, ASIAAQ Lead Scientist at NASA Langley Research Center; and Dr. Louisa Emmons, ASIA-AQ Forecasting Team Lead at the National Center for Atmospheric Research. They will be collaborating with Atmospheric Scientists from the Manila Observatory’s Air Quality Dynamics Laboratory composed of Dr. James Bernard B. Simpas, Dr. Maria Obiminda L. Cambaliza, and Dr. Melliza T. Cruz. Within the week, the team will go on four research flights aboard two aircraft employed

RESIDENT Ferdinand R. Marcos Jr. vowed to complete the distribution of remaining agricultural lands covered by the Comprehensive Agrarian Reform Program (CARP) before his Palace term ends in 2028. “It is my goal to complete the distribution of all CARP lands before the end of my term,” the Chief Executive said in Filipino in his speech for the distribution of land titles at the Rizal Memorial Colleges Gym in Davao City on Wednesday. During the event, the President led the distribution of 2,529 land titles to 2,672 agrarian reform beneficiaries (ARB) in the province of Davao. He said he wants the swift distribution of land titles since such is expected to help boost the income of farmers. “We will not accept that the poorest livelihood is farming,” Marcos said. In a phone interview, DAR Secretary Conrado M. Estrella III disclosed there are still 1.3 million land titles covered by CARP. He said they hope to complete land distribution by 2028 by distributing 200,000 to 250,000 land titles per year. For his year, he said they are targeting to distribute 300,000. However, the official noted they are facing constraints since the Land Registration Authority (LRA) is unable to keep up with demand in the printing of land titles. Estrella said they are now studying to tap other government agencies such as the National Printing Office (NPO) and even private companies to outsource the printing of the titles. Aside from being able to handle the huge volume of printing, he said, they will also be looking into the available technology of the service provider since the printed land titles must contain security features. He said they might be able to finalize a decision on the matter by April. The DAR chief said they already informed the President of the plan, who expressed his support for the immediate implementation of the initiative. Samuel P. Medenilla

by ASIA-AQ, the NASA G-III and NASA DC-8, which are both based in Clark, Pampanga. Yulo-Loyzaga earlier stated that the collaboration with NASA, a first for the Philippines, “will help improve air quality models, provide accurate forecasts, and develop effective policies to ensure better air quality in the future.” The campaign will also serve as a platform for the Philippines to understand its local air quality issues, improve its interpretation of satellite observations, and develop better air quality models. Yulo-Loyzaga, whose major thrust is environmental protection and natural resource conservation, underscored the critical role of strengthening partnerships with space agencies such as NASA and PhilSA to use satellite imagery and other space science and technology applications to support the country’s development of strategies for science-based, risk-informed, ethical, and equitable stewardship of the environment. Jonathan L. Mayuga

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

Thursday, February 8, 2024

What’s in the box? DTI-CPG unravels secret behind ‘mystery boxes’ on sale H

House leaders eye to hike grocery, food supplement discounts for elderly, PWDs

By Andrea E. San Juan @andreasanjuan

HE Department of Trade and Industry (DTI) warned consumers of “mystery parcels” that are reportedly being sold in the market. Acquiring these parcels, the DTI warned, may place hold the buyer liable under the Anti-Fencing law, which penalizes the act of dealing with stolen goods. DTI- Consumer Protection Group (CPG) Assistant Secretary Amanda Nograles defined mystery parcels as sealed parcels in the form of either balikbayan box or small items, which cover the names of “supposed recipient or supposed buyer” of these items. Nograles said the “mystery” of the items contained in the parcel are not known but could be purchased for a certain price. The official of the consumer protection arm of DTI said this recent concept has captured the interest of Filipino consumers as some parcels could contain highvalue items, which could be bought at a cheaper price. “Kapag binuksan, magbabaka-sakali; minsan high-value item iyong laman ‘no, minsan relo, camera or what, tapos mura siyang nabili. So, kaya patok na patok iyan ngayon sa ating market,” the consumer protection official explained.

Nograles also explained where these mystery parcels may come from. She said these packages could come from unclaimed balikbayan boxes in the Bureau of Customs (BOC), which have been stored for over a year. “Kapag more than one year po yung mga boxes, iyong mga balikbayan boxes na nandoon sa Customs at hindi po kini-claim or hindi binabayaran iyong ta xes, puwede po siyang isubasta—ibig sabihin ay magkakaroon ng valid auction sale. Tapos iyong bibili po nitong mga item na ito, kinakalap nila, kinu-collect nila tapos binibenta nila iyan sa mga baratilyo,” she said. Other sources of mystery parcels, the consumer protection official revealed, are warehouses which contain stolen or what she called “pilfered” goods which, she emphasized, the public should keep an eye on. “Iyong iba naman po—ito ‘yung kailangan nating bantayan—nakakapasok po iyong iba sa mga warehouse, nananakawan iyong mga warehouse ng ating mga seller tapos binibenta nila iyong mga nakaw na item sa mga baratilyo, anyway wala namang pangalan, walang mga label, binubura nila,” Nograles said. As to the law that covers the act of dealing with stolen goods, Nograles explained that a consumer could be penalized under the Anti-Fencing

law if they purchase the “pilfered” items from a storage facility or even from BOC. On the other hand, she noted that parcels bought from a “valid auction sale” of BOC are legal. “Iyong mga parcels na nabili sa isang valid auction sale ng Customs, walang problema iyan, wala tayong nalalabag na batas diyan dahil kung nabili siya sa isang valid auction sale ako na iyong owner nitong mga parcels na ito, nitong mga box na ito, malaya na ako na ibenta ito sa third party or kung sinuman ‘no, dahil ako naman talaga iyong owner nitong parcel na ito,” Nograles said. “Ngayon, iyong pangalawang issue na na-discuss natin, iyong mga parcel na nakaw, iyong mga pilfered na mga items mula sa mga storage facility or even sa Customs kung may nananakawan diyan iyong mga binubutasan na box tapos ninanakaw iyong item tapos ibinibenta—iyan iyong mayroon tayong applicable law, itong Anti-Fencing Law na kailangang pag-ingatan ng ating mga consumers,” she added. With this development in the consumer landscape in the country, the consumer protection official said the DTI has advised consumers to check where the mystery parcel came from, if it originated from the BOC’s valid auction sale, which is legal, or if the package is considered a stolen good, which is punishable.

She emphasized that even the buyer of a stolen item could be held liable under the Anti-Fencing law. The Anti-Fencing law or Presidential Decree No. 1612, describes “fencing” as the act of any person who, with intent to gain for himself or for another, shall buy, receive, possess, keep, acquire, conceal, sell or dispose of, or shall buy and sell, or in any other manner deal in any article, item, object or anything of value which he knows, or should be known to him, to have been derived from the proceeds of the crime of robbery or theft. For DTI’s part, Nograles said the agency coordinates with online platforms amid the inception of mystery parcels. The consumer protection official said if DTI finds out that an online shop is selling such parcels, the agency might request for evidence or proof where a seller obtained these items, to prove that the seller got hold of these items in a legal way. “Kailangang mapatunayan noong seller na itong mga items na ito ay nakuha niya through a legal way—so, either sa Bureau of Customs iyong sa valid auction sale, or whether itong mga items na ito naabandona noong totoong may-ari noong items na ito whether buyer siya na hindi klinaim [claim] iyong item o in-abandon,” she stressed.

Maritime agencies, stakeholders told: Align efforts with MIDP ‘28 By Lorenz S. Marasigan @lorenzmarasigan

HE Department of Transportation (DOTr) has called on maritime agencies and stakeholders to align their efforts with the Maritime Industry Development Plan (MIDP) 2028. Transportation Secretary Jaime Bautista emphasized the

importance of anchoring initiatives to this comprehensive roadmap, saying that it will generate greater impact in harnessing the full potential of the blue economy. “I urge our maritime agencies and stakeholders to anchor their initiatives to this plan that should serve as road map, or rather as sea map, binding together our individual efforts,” he said. The call was directed to key entities, including the Philippine Coast Guard, Maritime Industry Authority, Philippine Ports Authority, Philippine Merchant Marine Academy, Cebu Port Authority, and various maritime stakeholders. The Maritime Industry Authority (Marina) is currently implementing the MIDP 2028, with pronounced emphasis on the goal of championing the concept of the “blue economy.” The blue economy framework encompasses a wide range of maritime and coastal activities. The core idea behind the blue economy is stewardship of the ocean, ensuring that the benefits derived from its waters are balanced with efforts to preserve its health. “By embracing the concept of the Blue Economy, we contribute to global efforts in combating climate change

and preserving biodiversity,” Bautista said. Embracing the concept of the blue economy, the transport secretary highlighted its broader scope, extending beyond traditional economic growth. He emphasized its role in contributing to global efforts to combat climate change and preserve biodiversity. The MIDP comprises several strategies and specific program components, aiming to enhance policies and regulatory frameworks, promote research and development, and ensure compliance with international conventions and national regulations for marine environmental protection. This program seeks to establish a sustainable maritime industry, creating green jobs and redoubling efforts to protect the environment. Under the MIDP 2028, the Philippines aims to cut by half the number of marine pollution related illnesses/cases, solid waste from ships, and liquid waste from ships in the next five years. Furthermore, the country aims to reduce the percentage of greenhouse gas emissions from Philippine flag vessels by 30 percent by 2028.

OUSE leaders on Wednesday said they are eyeing to increase the P65 weekly limit on discounts on groceries and food supplements for senior citizens and persons with disabilities (PWDs). Expressing concern over the current meager P65 weekly discount for seniors and PWDs on their groceries, Speaker Ferdinand Martin Romualdez asserted the need for an increase in these benefits. He announced plans for the House of Representatives to convene a Technical Working Group this week to assess the Senior Citizen’s Act and recommend additional discounts for seniors and PWDs. “Seniors and PDWs are currently getting a far too modest discount of P65 on their weekly groceries. We need to increase this,” said Romualdez. Currently, seniors enjoy a 5 percent discount weekly on groceries, capped at a total purchase value of P1,500, resulting in a mere P65 weekly discount. Romualdez emphasized that this amount is no longer adequate given the prevailing economic conditions. “This amount is no longer appropriate in the current economic climate, given the high cost of living,” added Romualdez. United Senior Citizen party-list Rep. Milagros Magsaysay suggested that raising the weekly grocery budget for seniors or PWDs to P5,000 would translate to a P250 discount with the mandated 5 percent discount. Romualdez stressed that these discounts should not be restricted to groceries but should also extend to food supplements and vitamins for the elderly and PWDs. Romualdez said House Ways and Means Committee chair Albay Rep. Joey Sarte

Salceda, has confirmed that his proposal will be included in the TWG’s agenda in the coming days. Meanwhile, Zamboanga Sibugay Rep. Wilter Palma suggested looking into the Department of Trade and Industry-Department of Agriculture (DTI-DA) Joint Administrative Order No. 10-02 series of 2010, which imposes a ceiling of P1,300 for offline and online purchases per calendar week for basic necessities and prime commodities. Kabayan Party-list Rep. Ron Salo, however, proposed that the administrative order could be modified at any moment without necessitating a change in the law or just by raising the P1,300 threshold. San Juan City Rep. Ysabel Maria Zamora proposed the concept of a national identification card for senior citizens and PWDs, while Batangas City Rep. Mario Vittorio Marino recommended the integration of senior citizens and PWDs’ data into the national ID system. The panel also deliberated on the potential removal of purchase booklets being issued to senior citizens and PWDs with multiple stakeholders expressing their endorsement for this proposition. Drug Stores Association of the Philippines (DSAP) President Vicente Billiones said small and independent pharmacies or drug stores couldn’t just eliminate the purchase booklet since it serves as their reference to determine whether senior citizens or those with disabilities are adhering to their prescribed medications. He added that the absence of a purchase booklet could potentially lead to the misuse of drugs and that independent drug stores cannot offer the full 20 percent discount as compared to what the larger pharmacies can provide. Jovee Marie N. Dela Cruz

Intl pharma, health-care expo slated from February 14 to 16

HE Philippine Pharma and Healthcare Expo, the largest pharmaceutical, medical and healthcare exhibition in the Philippines, which aims to capture the untapped market of the Southeast Asian Region through the Philippines, is expecting to house over 130 exhibitors and 4,000 visitors from nine participating countries during its three-day event. The international expo, which is jointly organized by Uniglobal Exhibitions and ACE Group, is one of the shows in the umbrella of upcoming shows being organized in the Asean region. According to Uniglobal and ACE, the event will be hosting medical professionals, pharmacies, hospitals, health organizations, importers and exporters, decision makers and medical practitioners of the Asean region in the Philippines. Aside from the Philippines, other participating countries are India, Turkey, Indonesia, Egypt, Vietnam, China, Taiwan, Malaysia and Israel. ACE Group is a New Delhi-based organization, which organizes trade exhibitions across the globe. The group said it has been dealing in over 60 international trade fairs taking place in over 20 countries in Europe, Asia, Africa, America and Oceania. Meanwhile, Uniglobal Exhibitions and Services (UES), which is also based in New Delhi is also experienced with organizing trade exhibitions worldwide, dealing in over 20 International Trade Fairs taking place in over 10 countries in the Middle East and Northern Africa (MENA), Asean, Gulf Cooperation Council (GCC) and Asia. Citing global data, the partnerorganizers for this trade show noted in its event brochure that the Philippines pharmaceutical market will grow to reach P241.9 billion or equivalent to $3.7 billion in 2025 following the introduction of the Universal Health Care (UHC) Act, enabling the already high Indian pharmaceutical imports in the country to “increase further.” The organizers noted that in 2018, India was the top import partner of the Philippines contributing 12.6 percent of the total pharmaceutical imports into the country. In 2018, generics accounted for 76

percent by volume of the total pharmaceutical market in the country. Uniglobal and ACE said the visitors that are expected to flock to the expo from February 14 to 16, 2024. The organizers of the trade event said pharmacists, heads of medical institutions, heads of regional health authorities, pharmacologists, hospitals are among those that will attend the trade event. Pharma machinery importers, pharmaceutical firms, technologists, practicing physicians of different specialties, regional dealers and distributors are also expected to visit the three-day expo. From the medical profession, the organizers said doctors, nurses, paramedics and head physicians are also among the visitors. Meanwhile, trading companies, manufacturers and businessmen and importers and exporters are also expected to establish partnership at the said event. The organizers highlighted different reasons to participate in the exhibition. For one, India-based organizers said the Philippine pharmaceutical market is expected to grow at a compound annual growth rate (CAGR) of more than 1 percent within the 2017 to 2026 timeframe. They highlighted that the Philippine pharmaceutical market was valued at $3.3 billion in 2020. Moreover, the Filipino pharmaceutical industry is one of the “fastestgrowing” industries in the country and is home to over 14 of the world’s top 20 pharmaceutical companies, the organizers noted. For the Philippine medical devices market, the organizers said it is seen to grow at a CAGR of more than 8 percent during the period 2021 to 2023. In 2021 alone, they noted that the local medical devices market was worth $747 million. “The major medical devices imported in the country are catheters, sutures, surgical masks, computed tomography [CT] scans systems, X-ray units, and ultrasound systems,” the organizers noted. Meanwhile, they said local production is limited to prototype units, spare parts (including improvised parts), and disposables, such as surgical gloves, syringes and needles. Andrea E. San Juan

News BusinessMirror

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

Guevarra says govt unlikely S to enforce ICC arrest warrant

OLICITOR General Menardo Guevarra on Wednesday said a memorandum circular (MC) from President Ferdinand R. Marcos Jr. enjoining all government agencies from implementing any arrest warrant from the International Criminal Court (ICC) against former president Rodrigo R. Duterte is no longer necessary.

In a text message, Guevarra said Marcos’public statements could already be considered as directives to all government agencies. “The President’s repeated public statements are as good and effective as any written memorandum circular,” Guevarra pointed out. Guevarra made the statement in response to

Thursday, February 8, 2024 Duterte’s spokesman lawyer Harry Roque’s appeal to the President to issue a presidential memorandum circular prohibiting all agencies under the Executive branch, such as the Armed Forces of the Philippines (AFP), the Philippine National Police (PNP), and the National Bureau of Investigation (NBI) from cooperating with the ICC.

Roque said the circular should highlight that any engagementorcoordinationwiththeICCwouldviolate the country’s sovereignty and national jurisdiction. In his media interviews, the President had reiterated that the ICC has lost jurisdiction over the Philippines after Duterte decided to withdraw its membership in 2019. Joel R. San Juan

BusinessMirror

Thursday, February 8, 2024

ESTABLISHMENT / ADDRESS

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

AB LEISURE EXPONENT, INC. 5/f Sm Megamall Bldg. D, J Vargas, Wack-wack Greenhills, City Of Mandaluyong

LIAO, ZIH-WEI a.k.a. LIAO, YING-JU Mandarin Marketing Team Leader Brief Job Description: Develop a strategy.

Basic Qualification: Can speak in Mandarin language.

14.

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

Brief Job Description: Identifying profitable business, negotiating and closing business deals.

ACCENTURE, INC. 7f Robinsons Cybergate Tower 1, Pioneer St., Barangka Ilaya, City Of Mandaluyong MOHANTY, ANJALIKA Business Transformation Senior Manager 2.

Brief Job Description: Maintain operational quality across programs by monitoring budget, scheduling, risk, and scope.

Basic Qualification: High level of expertise and experience in monitoring. Salary Range: Php 150,000 - Php 499,999

WU, DONGTENG General Business Specialist 15.

AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex, Harbour Drive Cor. Bay Shore, Brgy. 076, Pasay City NGUYEN HUU QUOC CUONG Invest SPC - CR [VNM] 3.

Brief Job Description: Investigates suspicious merchant and buyer activity. Communicates via email external and internal customers to make informed decisions about risk.

Basic Qualification: Proficient in Thai and English languages. Salary Range: Php 30,000 - Php 59,999

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

SHWE YEE WIN Burmese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires. TRUONG, THI TU Vietnamese Customer Service Representative Brief Job Description: Managing incoming calls and customer service inquires.

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

PURI, SANDEEP Professor 6.

Brief Job Description: The qualified candidate will teach in degree and special courses and conduct research in their specific fields with an emphasis on sustainability, digital transformation, and other specialized topics and serve in administrative functions as required.

Basic Qualification: Must have a Doctorate Degree, with at least 5 years of teaching experience in AACSB accredited schools, and experience in curriculum planning, and managing programs is highly desirable.

LIM, GUNWOO Mandarin Speaking Customer Service 7.

Brief Job Description: Attracts potential customers by answering product and service questions.

GOH LAM YONG General Manager For Applied And Solutions Business 16.

17.

PHILLIPS, STEPHEN CHRISTOPHER Consultant / Senior Advisor 8.

Brief Job Description: Provide consultancy services for information technology group focusing on IT platforms and platform services.

Salary Range: Php 500,000 and above

LI, GUANGQIN Marketing Specialist 9.

Brief Job Description: Conducting market research to establish customer trends and habits. LIN, YANQING Marketing Specialist

10.

Brief Job Description: Conducting market research to establish customer trends and habits. ZENG, MEIYING Marketing Specialist

11.

Brief Job Description: Conducting market research to establish customer trends and habits.

18.

12.

Brief Job Description: Responsible for telemarketing efforts to liaise with guest’s request and assists with casino operation function.

13.

Brief Job Description: Manage and organize trucks, equipment and materials in the yard. Organize and maintain the cleanliness of the yard. Facilitate truck maintenance along with other equipment.

COMMSEC INC. House No. 2259, Aurora Blvd. St., Barangay 148, Pasay City

Brief Job Description: Assists lead project managers in running large projects and interactions with clients and stakeholders.

HAJOVSKY JR, JEROME JOE Project Manager

19.

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

Basic Qualification: Fluent in both Korean and English languages.

Basic Qualification: 3 or more years of experience in project management support, and should have prior expertise in managing a team or more than one team. Salary Range: Php 150,000 - Php 499,999

Brief Job Description: Translate global strategic initiatives into procedures to be implemented on projects. Apply cost-competitive execution techniques to develop the most cost-effective total project solution for the execution of the work. Develop and review project scope of services, scope of facilities, and other project baseline documents for all phases of projects.

Basic Qualification: Twenty (20) years of workrelated experience in the relevant field. Relevant BS or MS degree. Experience in chemicals, petrochemicals, refinery, offshore, utilities and offsites.

20.

21.

22.

ANDI DIRGA Indonesian Account Specialist Brief Job Description: Accounting hardware and software installations.

PUTRI ANDRI PRATIWI Indonesian Account Specialist Brief Job Description: Accounting hardware and software installations.

RIZKI HARDIANTA Indonesian Account Specialist Brief Job Description: Accounting hardware and software installations.

TIGER Indonesian Account Specialist Brief Job Description: Accounting hardware and software installations.

FUCHS, CLAUDE ACHILLE Senior Site Manager 24.

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

33.

34.

35.

Brief Job Description: Overall responsibility for all site related activities in order to delivering and handing over the project successfully, on time, on quality and safely to the client in accordance with the contract requirements.

Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Exceptional ability to provide technical support and resolve queries. Salary Range: Php 60,000 - Php 89,999 Basic Qualification: Exceptional ability to provide technical support and resolve queries. Salary Range: Php 60,000 - Php 89,999

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

Basic Qualification: Development of cost, time schedule and quality on the project. Overall site and subcontract budget targets are achieved.

25.

26.

27.

Brief Job Description: Provide customer care, when necessary, and keep updated knowledge of accounts. LE THI HOANG ANH Customer Service Representative - Vietnamese Speaking

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION MAO THAI VIET TRAM Customer Service Representative - Vietnamese Speaking

Basic Qualification: Fluent in speaking Vietnamese language.

Brief Job Description: Deferring to management in instances of uncertainty.

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

NGUYEN THI KIM LY Customer Service Representative - Vietnamese Speaking

Basic Qualification: Graduate of a 4-year degree course.

Brief Job Description: Deferring to management in instances of uncertainty.

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

NGUYEN THI MINH THIEN Customer Service Representative - Vietnamese Speaking

Basic Qualification: Graduate of a 4-year degree course.

Brief Job Description: Deferring to management in instances of uncertainty.

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

NGUYEN THI THUY HIEN Customer Service Representative - Vietnamese Speaking

Basic Qualification: Fluent in speaking Vietnamese language.

Brief Job Description: Deferring to management in instances of uncertainty.

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

NGUYEN, CONG HOAN Customer Service Representative - Vietnamese Speaking

Basic Qualification: Fluent in speaking Vietnamese language.

Brief Job Description: Deferring to management in instances of uncertainty.

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

NGUYEN, QUANG HUY Customer Service Representative - Vietnamese Speaking

Basic Qualification: Graduate of a 4-year degree course.

Brief Job Description: Deferring to management in instances of uncertainty.

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

PHAM, NGOC TUAN Customer Service Representative - Vietnamese Speaking Brief Job Description: Confirms customers language preference as you assist them. TRAN VAN TINH Customer Service Representative - Vietnamese Speaking Brief Job Description: Confirms customers language preference as you assist them. TRAN, DINH HOAN Customer Service Representative - Vietnamese Speaking Brief Job Description: Confirms customers language preference as you resist them.

MCALPINE, ROBERT PAUL QA/QC Manager

37.

Brief Job Description: Responsible for the implementation and management of applicable quality control plan and for driving, tracking and monitoring of the quality aspects of assigned projects. Guiding team to maintain adherence to quality standards and compliance norms. Maintaining oversight on system document management.

38.

39.

40.

41.

42.

Basic Qualification: Fluent in speaking Vietnamese language. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Confirms customers language preference as you assist them.

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

LU XUAN HONG Customer Service Representative - Vietnamese Speaking

Basic Qualification: Fluent in speaking Vietnamese language.

Brief Job Description: Deferring to management in instances of uncertainty.

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

Basic Qualification: Fluent in speaking Vietnamese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking Vietnamese language. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in speaking Vietnamese language. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate. With experience in data equipment including electrical distribution, equipment from switchgear to panelboards, VFDs. Salary Range: Php 150,000 - Php 499,999

MARKETROLE ASIA PACIFIC SERVICES, INC. 27/f & 28/f The Enterprise Center Tower 1, 6766 Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati BUI THI THU Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service.

DAI, SHUILAN Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service.

DO, THI HAI YEN Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service.

SOO WAN CHUN Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service.

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

Basic Qualification: Fluent in speaking Vietnamese language.

QUALIFICATION AND SALARY RANGE

LEIGHTON CONTRACTORS (ASIA) LIMITED 12th Flr Menarco Tower, 32nd Street,, Bonifacio Global City, Fort Bonifacio, City Of Taguig

Basic Qualification: Exceptional ability to provide technical support and resolve queries.

KNW TECHNOLOGY INC. 103 Equinox Plaza, Sierra Madre, Highway Hills, City Of Mandaluyong CHAU THI BICH LY Customer Service Representative - Vietnamese Speaking

36.

Basic Qualification: Exceptional ability to provide technical support and resolve queries.

KMC MAG SOLUTIONS, INC. 20/f, Picadilly Star Building, 4th Avenue Corner 27th Street, Fort Bonifacio, City Of Taguig

Basic Qualification: College graduate. With at least 3 years of work experience in a related industry.

32.

Salary Range: Php 500,000 and above

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

31.

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

23.

Basic Qualification: Proven professional experience.

30.

Basic Qualification: Fluent in Malay and English languages and 10 years related working experience.

Basic Qualification: Fluent in Mandarin language both verbal and written.

29.

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

GIGA INFORMATION TECHNOLOGY AND SOFTWARE DEVELOPMENT INC. 31/f Pbcom Tower 6795 Ayala Ave., Cor. V.a. Rufino St., Bel-air, City Of Makati

CAPTAIN MOTORS INC. 180, Road 20 Mindanao Avenue, Bahay Toro, Quezon City RAZA, ALI Yard Manager

Basic Qualification: College graduate, fluent in Mandarin and English languages, and preferably with 6 months to 1 year work experience in the same field.

28.

FLUOR DANIEL, INC. - PHILIPPINES 2nd, 7th-17th/f Polaris Corporate Center, Lt 6&7 Blk 1, Spectrum Midway, Fcc, Alabang, City Of Muntinlupa

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

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

Brief Job Description: Analyze campaign performance and suggest improvements.

CHANDRASEKARAN, VIGNESH Associate Project Manager

BETCONSULT INTERNATIONAL CONSULTING, INC. 50/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a Rufino St., Bel-air, City Of Makati Basic Qualification: Fluent in Mandarin language both verbal and written.

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

EASTVANTAGE BUSINESS SOLUTIONS INC. Unit 2400 24/f Fort Legend Tower, 3rd Ave. Cor. 31st St., Fort Bonifacio, City Of Taguig

BDO UNIBANK, INC. Unit G-1, G/f Bdo Towers Paseo, 8741 Paseo De Roxas, Bel-air, City Of Makati Basic Qualification: At least 15 years of application delivery experience in financial services. Excellent analytical and problem-solving skills with strong strategic and business mindset.

Brief Job Description: Creating and maintaining sales goals as well as forecasting future sales trends.

SON, SEONGYONG Korean HR Manager

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

Basic Qualification: College graduate, fluent in Mandarin and English languages, and preferably with 6 months to 1 year work experience in the same field.

No.

DOWINNPHIL INC. Unit 1404 -1408, 14/f Aseana 3 Building D. Macapagal Boulevard, Tambo, City Of Parañaque

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

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

Brief Job Description: Identifying profitable business, negotiating and closing business deals.

QUALIFICATION AND SALARY RANGE

DAIKIN AIRCONDITIONING PHILIPPINES, INC. 2nd Flr. Two Orion Bldg., 88 E. Rodriguez Jr. Ave., Ugong Norte, Quezon City

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

ASIAN INSTITUTE OF MANAGEMENT, INC. 123, Paseo De Roxas, San Lorenzo, City Of Makati

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LUO, JIAYI General Business Specialist

www.businessmirror.com.ph

43.

TRINH VIET ANH Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service.

VO, NGUYEN QUYEN Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service.

Basic Qualification: Knows how to speak Chinese/Mandarin language fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to speak Chinese/Mandarin language fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to speak Chinese/Mandarin language fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to speak Chinese/Mandarin language fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to speak Chinese/Mandarin language fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knows how to speak Chinese/Mandarin language fluently. Salary Range: Php 30,000 - Php 59,999

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

44.

DAO, THI HUONG Mandarin Operations Specialist Brief Job Description: Maintain accurate sales record.

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

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

RRA ONE GLOBAL CONSULTANCY CORP. Blk 1 Lot 6 Progressive St., Lucky Homes Subd., Barangay 168, City Of Caloocan HONG, QINAN Assistant Supervisor 45.

Brief Job Description: Developing training materials and conducting training sessions and workshops.

MA, JUN Assistant Supervisor 46.

Brief Job Description: Developing training materials and conducting training sessions and workshops. YANG, LIN Resource Planning Manager

47.

Brief Job Description: Providing project managers with outgoing resource management and related support.

Basic Qualification: At least college graduate. Can speak and write in Mandarin and Vietnamese languages. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college graduate. Can speak and write in Mandarin and Vietnamese languages.

Basic Qualification: At least college graduate. Can speak and write in Mandarin language. Salary Range: Php 30,000 - Php 59,999

48.

Brief Job Description: Stay on top of accounts, making sure they receive services that are within their budget and meet their needs.

ERIC PRADANA Indonesian Sales Specialist 49.

Brief Job Description: Establish and maintain effective customer relationships with customers, assist in day-to-day operational responsibility.

ILHAM YASIFA Indonesian Sales Specialist 50.

Brief Job Description: Establish and maintain effective customer relationships with customers, assist in day-to-day operational responsibility.

CAO, MINGHUI Mandarin Account Manager 51.

Brief Job Description: Stay on top of accounts, making sure they receive services that are within their budget and meet their needs.

WU, QING Mandarin Account Manager 52.

Brief Job Description: Stay on top of accounts, making sure they receive services that are within their budget and meet their needs.

GUO, GAOCHENG Mandarin Marketing Associate 53.

Brief Job Description: Helps to create proposals and presentations in Mandarin language, and conducts market research to identify new opportunities.

GUO, MEICHEN Mandarin Marketing Associate 54.

Brief Job Description: Helps to create proposals and presentations in Mandarin language, and conducts market research to identify new opportunities.

PRESTY ISLAMIATI Translator (Bahasa Indonesia) 55.

Brief Job Description: Translate written documents, audio recordings, or spoken conversations accurately and efficiently from one language to another.

Basic Qualification: With excellent verbal communication skills specifically in Bahasa Indonesia and English languages. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With excellent verbal communication skills specifically in Bahasa Indonesia and English languages. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: With excellent verbal communication skills specifically in Bahasa Indonesia and English languages. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Any nationality with excellent verbal communication skills, especially in Mandarin & English languages. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Any nationality with excellent verbal communication skills, especially in Mandarin & English languages.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Any nationality with excellent verbal communication skills, especially in Mandarin & English languages.

Basic Qualification: With excellent verbal communication skills specifically in Bahasa Indonesia and English languages.

56.

Brief Job Description: Review and provide recommendation on the annual operations and maintenance plan, activity plan resulting from the regular maintenance reports, standards practices and safety procedures and various contingency plans.

61.

Brief Job Description: Handle service support calls, emails, and chats related to inquiries from clients and/or customers through Mandarin to English language translation.

62.

63.

64.

58.

Brief Job Description: Provides customer service support to the organization by obtaining, analyzing and verifying the accuracy of order information in a timely manner.

65.

59.

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

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

Brief Job Description: Process Mandarin interactive software in terms of developing and upgrading its systematic functions.

NGUYEN NGOC YEN Vietnamese Marketing Specialist Brief Job Description: Manages daily operations of the IT department.

CHOI, DU SUNG Customer Care Representative 2 - Percepta 66.

76.

Basic Qualification: Thorough and extensive fluency in Mandarin language and characters.

77.

Brief Job Description: Respond to inbound customer contact and conduct outbound customer communications. Provide multiple specialized services to customers for a range of products or services, difficult complaint and fault inquiries, deployment of services and staff.

67.

MYO WIN Customer Relation Representative (Mandarin Translation) Brief Job Description: Handles service support calls, emails and chats related to client’s inquiry.

68.

Brief Job Description: Attracts potential customer by answering product and service question.

DELIFRES TIA LUBIS Indonesian Customer Service Representative 69.

Brief Job Description: Attracts potential customer by answering product and service question.

DINH WAHYU SAMUDRA Indonesian Customer Service Representative 70.

Brief Job Description: Attracts potential customer by answering product and service question.

FRANSISKO QUETERES SANI OBENU Indonesian Customer Service Representative Brief Job Description: Attracts potential customer by answering product and service question.

IQRA HADITS Indonesian Customer Service Representative 72.

Brief Job Description: Attracts potential customer by answering product and service question.

IRWAN SETIAWAN Indonesian Customer Service Representative 73.

Brief Job Description: Attracts potential customer by answering product and service question.

IVAN YUDHA PRATAMA Indonesian Customer Service Representative Brief Job Description: Attracts potential customer by answering product and service question.

JELFIN LAHAGU Indonesian Customer Service Representative 75.

Brief Job Description: Attracts potential customer by answering product and service question.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

Brief Job Description: Attracts potential customer by answering product and service question.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

78.

Brief Job Description: Attracts potential customer by answering product and service question.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

MUHAMMAD ALFARIQSYAH Indonesian Customer Service Representative 79.

Brief Job Description: Attracts potential customer by answering product and service question.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

REINALDY BENEDICTUS AXL KARUNDENG Indonesian Customer Service Representative 80.

Brief Job Description: Attracts potential customer by answering product and service question.

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Thorough and extensive fluency in Mandarin language and characters.

Basic Qualification: At least 19 y/o. Ability to speak, write and communicate in their respective language. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate. With at least 1 year outbound/ inbound experience in the call center industry. Proficient in Korean and English languages.

81.

82.

Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

83.

84.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages. Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

Brief Job Description: Attracts potential customer by answering product and service question.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

Brief Job Description: Attracts potential customer by answering product and service question.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

Brief Job Description: Attracts potential customer by answering product and service question.

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

WNS GLOBAL SERVICES PHILIPPINES, INC. 9/f 1880 Bldg., Eastwood City Cyberpark, Bagumbayan, Quezon City REDDY, SAMAIAYA MADHAVAN General Manager - Operations 86.

Basic Qualification: Knowledgeable and with experience in IT operations.

Brief Job Description: Responsible for the overall management of daily activities of the operations team.

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

YUKI SERVICE CORP. Unit 1206, 12th Floor Trade And Financial Tower, 7th Avenue And 32nd Street Bgc, Fort Bonifacio, City Of Taguig HOU, LIJUN Account Manager 87.

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

Brief Job Description: An Account Manager is the primary point of contact for customers, and they find opportunities to increase sales and implement cost-saving measures for the company.

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

ZHOU, YONGHAI Market Development Manager 88.

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

Brief Job Description: Market development managers have a business development role where the focus is on growing stronger business relationships in a specific market while also increasing revenue through both new and existing accounts.

Salary Range: Php 30,000 – Php 59,999

ZTE PHILIPPINES INC. Unit 25-a 25th Floor Six/neo Building, 5th Avenue Corner 26th Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

Brief Job Description: Attracts potential customer by answering product and service question.

YUDI RACHMAT Indonesian Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

TULUS HAMONANGAN SARAGI Indonesian Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

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

TEGAR APRIADI Indonesian Customer Service Representative

85.

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

Brief Job Description: Attracts potential customer by answering product and service question.

RIZAL AKMAL FAHLEH Indonesian Customer Service Representative

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

Basic Qualification: Fluent in English, Mandarin and language.

Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

RICKO MIKAEL LANGITAN Indonesian Customer Service Representative

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

VICTORY 88 GROUP LTD INC. 8/f, I Land Bay Plaza Bldg., D-macapagal Ave. Moa Complex, Barangay 76, Pasay City AHMAD ARIF ARIADIKI Indonesian Customer Service Representative

Basic Qualification: Proficient in reading, speaking and writing in Bahasa and English languages.

M YUSUF Indonesian Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Thorough and extensive fluency in Mandarin language and characters.

QUALIFICATION AND SALARY RANGE

JOSHUA SIGIT SETIAWAN Indonesian Customer Service Representative

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

VICCI BUSINESS CONSULTANCY CORP. 10/f Liberty Plaza, 102 H.v. Dela Costa St., Bel-air, City Of Makati

74. TRINH, TRUNG KIEN Mandarin Office Manager

Basic Qualification: College graduate. With knowledge on how to prioritize growth levers, with initiative to support scale and very comfortable in fast moving environment.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION JIDAN SUPARDI Indonesian Customer Service Representative

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

TTEC CUSTOMER CARE MANAGEMENT PHILIPPINES, INC. Five E-com, 10th Floor, Harbor Drive Corner Palm Coast Avenue, Barangay 76, Pasay City

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Fluent in Mandarin, Cantonese, and Taiwanese languages. Excellent interpersonal and communication skills. At least a 1-year experience related to the position.

Basic Qualification: Proficient in Mandarin language to liaise Chinese sellers.

TIAN XIA TECHNOLOGIES INTERNATIONAL, INC. 6/f Filinvest Cyberzone Bldg. B, Superblock A Central Business Park 1 Bay City St., Barangay 76, Pasay City

SHEX GROUP INC. Unit Ug-08 Cityland Condo, 10 Tower 2, 154 H.v. Dela Costa St., Bel-air, City Of Makati

PHAN GIA AN Mandarin Customer Service Representative

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English language translation. QIN, HUAXIAN Mandarin System And Support Specialist

Basic Qualification: Thorough and extensive fluency in Mandarin language and characters.

Basic Qualification: College Graduate. Fluent in Mandarin, Cantonese, and Taiwanese languages. Excellent interpersonal and communication skills. At least a 2-year experience related to the position.

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English language translation. POE SU KHAING Mandarin Speaking Customer Relation Representative

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

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

Brief Job Description: Bring an analytical approach to building the organization, instilling operational rigor to the workforce strategy and ensuring that the organizational design allows for clarity, efficiency and continuity.

HERY SHONO Mandarin Speaking Customer Relation Representative

71.

57.

No.

TECHMAVE SERVICES INC. 11/f Liberty Plaza Bldg., 102 H.v. Dela Costa St., Bel-air, City Of Makati

SEEKTOP SERVICE MANAGEMENT INC. 25/f Alphaland Corporate Tower, 7232 Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati THANDAR HLAING Customer Relation Representative (Mandarin Translation)

Brief Job Description: Responsible for establishing and maintaining good working relationships with top Mandarin language speaking Marketplace sellers/owners and representatives.

FONTENOT, DREW ALAN Recruitment And Retention Manager

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

Basic Qualification: College graduate. With extensive experience and knowledge of international best practices in the Power Generation industry.

QUALIFICATION AND SALARY RANGE

SOURCEFIT PHILIPPINES INC. 21st Flr. Cyber One Bldg., Eastwood Cyberpark, Bagumbayan, Quezon City

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

SAN ROQUE POWER CORPORATION The Enterprise Center, 36/f Ayala Avenue, San Lorenzo, City Of Makati TSUNEKAWA, TOSHIKATSU Technical Advisor / Consultant

60.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Any nationality with excellent verbal communication skills, especially in Mandarin & English languages.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

SU, LIANG Associate, Business Development (Seller Management CN Electronics (Relationship Management)

ESTABLISHMENT / ADDRESS

SHOPEE PHILIPPINES INC. Levels 43-49 West Tower, The Podium, Adb Avenue Cor. Ortigas, Wack-wack Greenhills, City Of Mandaluyong

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

S-W TRADING CORP. Unit 101, #393 Mindanao Ave. 6, Talipapa, Quezon City MELISSA Bahasa Indonesia Account Manager

No.

Thursday, February 8, 2024

LIANG, WEI Finance Manager 89.

Brief Job Description: In charge in overseeing the accounting process of the Company. Responsible for International tax, deal with complex company tax. Expert in Accounting computerization. Proficient in Window-based software and other computer software.

Basic Qualification: Can speak, write, and type in Mandarin language. Salary Range: Php 30,000 – Php 59,999

*Date Generated: Feb 7, 2024 In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 6, 2024, the name HONG, CHENXIANG under the company NORTH TIDE INTERNATIONAL TRADE INC., should have been read as HONG, CHENGXIANG and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 6, 2024, the name SA THIEN SOE SAN under the company ANOC99 CORPORATION, should have been read as SA THEIN SOE SAN and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

Thursday, February 8, 2024

TheWorld BusinessMirror

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

Blinken to brief Israeli leaders on cease-fire and hostage talks as war enters 5th month By Matthew Lee, Wafaa Shurafa & Samy Magdy The Associated Press

EL AVIV, Israel—US Secretar y of State A ntony Blinken was set to meet Israeli leaders on Wednesday as Hamas suggested it was open to a new ceasefire and hostage release deal, but both sides remain dug in on thus far elusive goals as the war enters its fifth month. The deadliest round of fighting in the history of the IsraeliPalestinian conflict has killed over 27,000 Palestinians, leveled entire neighborhoods, driven the vast majority of Gaza’s population from their homes, and pushed a quarter of the population to starvation. Iran-backed militant groups across the region have conducted attacks, mostly on US and Israeli targets, in solidarity with the Palestinians, drawing reprisals as the risk of a wider conflict grows. Israel remains deeply shaken by Hamas’ October 7 attack, in which militants burst through the country’s vaunted defenses and rampaged across southern Israel, killing some 1,200 people, mostly civilians, and abducting some 250, around half of whom remain in captivity in Gaza. T he Un ited St ates, Israel, Qatar and Egypt have proposed

a cease-fire of several weeks in return for a phased release of the hostages. Hamas responded to the offer late Tuesday in what it said was a “positive spirit” while reiterating its core demands for an end to the Israeli offensive and the release of thousands of Palestinian prisoners, which President Joe Biden said were “a little over the top.” Israeli Prime Minister Benjamin Netanyahu says the war will continue until “total victory” over Hamas and the return of all the remaining hostages. Blinken, who is on his fifth visit to the region since the war broke out, is trying to advance the cease-fire talks while pushing for a larger postwar settlement in which Saudi Arabia would normalize relations with Israel in return for a “clear, credible, timebound path to the establishment of a Palestinian state.” But the increasingly unpopular Netanyahu is opposed to Palestinian statehood, and his hawkish governing coalition could collapse if he is seen as making too many concessions. Blinken acknowledged “there’s still a lot of work to be done.” But he said he still believed an agreement on the hostages was possible. At a press conference in Qatar on Tuesday, he said a pathway to more lasting peace was “coming

Israel has ordered Palestinians to evacuate areas that make up two-thirds of the tiny coastal territory. That covers the prewar homes of three-quarters of Gaza’s 2.3 million people, according to the UN humanitarian office. Most of the displaced are packed into the southern town of Rafah near the border with Egypt, where many are living in squalid tent camps and overflowing UN-run shelters.

Israelis agonize over fate of hostages PALESTINIANS mourn their relatives, killed in the Israeli bombardment of the Gaza Strip, outside a morgue in Rafah, southern Gaza on Tuesday, February 6, 2024. AP/FATIMA SHBAIR

ever more sharply into focus” but would require “hard decisions” by the region’s leaders.

Misery deepens in devastated Gaza

THERE is little talk of grand diplomatic bargains in Gaza, where Palestinians yearn for an end to fighting that has upended every aspect of their lives. “We pray to God that it stops,” said Ghazi Abu Issa, who fled his home and sought shelter in the central town of Deir al-Balah. “There is no water, electricity, food or bathrooms.” Those living in tents have been drenched by winter rains and flooding. “We

Border security, Ukraine aid collapse despite Biden’s plea for Congress to ‘show some spine’ By Stephen Groves, Mary Clare Jalonick & Aamer Madhani The Associated Press

ASHINGTON—A Senate deal on border enforcement measures and Ukraine aid suffered a swift and total collapse Tuesday as Republicans withdrew support despite President Joe Biden urging Congress to “show some spine” and stand up to Donald Trump. Just minutes after the Democratic president’s remarks at the White House, Senate Republican Leader Mitch McConnell emerged from a GOP luncheon at the Capitol and acknowledged that the deal was dead. “It looks to me and to most of our members that we have no real chance here to make a law,” the Kentucky Republican told reporters. The split-screen moments in Washington represented a rapid turn of events that showed McConnell’s slipping control of his GOP conference, Trump’s growing influence, and Biden’s ability only to look on as a cornerstone of his foreign policy—halting Russian President Vladimir Putin’s advance into Europe—crumbled in Congress. Out of funds, the Pentagon is sending no more arms shipments to Kyiv just as the war—entering its third year—reaches a critical juncture. Ukraine is struggling with ammunition and personnel shortages while Russia is on the offensive, mounting relentless attacks. “Ever y week, ever y month that passes without new aid to Ukraine means fewer artillery shells, fewer air defense systems, fewer tools for Ukraine to defend itself against this Russian onslaught,” Biden said. “Just what Putin wants.”

Biden had engaged for months with Senate leaders on a carefully negotiated plan to pair policies intended to curb illegal crossings at the US-Mexico border with $60 billion in wartime aid for Ukraine. The bill was intended to exhibit American strength around the world and would have also sent tens of billions of dollars more for Israel, other US allies in Asia, the US immigration system and humanitarian aid for civilians in Gaza and Ukraine. But after Republicans rejected the compromise, the president and Senate leaders are now stranded with no clear way to advance aid for Ukraine through Congress. They have run into a wall of opposition from conservatives—led by Tr ump —who reject the border proposal as insufficient and criticize Ukraine funding as wasteful. Biden laid blame for the bill ’s demise squarely on Tr ump— his likely Republican opponent in the November presidential election. “For the last 24 hours he’s done nothing, I’m told, but reach out to Republicans in the House and the Senate and threaten them and try to intimidate them to vote against this proposal,” Biden said. “It looks like they’re caving. Frankly, they owe it to the American people to show some spine and do what they know to be right.” Democrats in the Capitol vented frustration at their colleagues as it became clear that the deal was done. Senate Majority Leader Chuck S c hu me r c a s t Tu e s d ay a s a “gloomy day here in the United States Senate” during a f loor speech in which he scolded Republicans for backing away from the deal. He still dared them to vote against border security—an issue they have long championed.

“After months of good faith negotiations, after months of giving Republicans many of the things they asked for, Leader McConnell and the Republican conference are ready to kill the national security supplemental package even with border provisions they so fervently demand,” Schumer said. Senators are still floundering for a way to get Ukraine funding through the Republican-controlled House. And after the border compromise collapsed Tuesday, some suggested jettisoning that portion from the package and advancing the aid for US allies on their own. But that idea also faces resi st a nce i n t he R e publ ic a ncontrolled House, where House Speaker Mike Johnson is under pressure from hardline conservatives not to bring any Ukraine funding up for a vote. When asked about wartime aid for Ukraine and Israel Tuesday, he told reporters, “We have to deal with these measures and these issues independently and separately.” House Republicans on Tuesday night failed to pass a separate $17.6 billion package of military aid for Israel. Hardline conservatives opposed the bill because the funding would not be offset by budget cuts in other areas. Democrats were also mostly opposed because it undermined the push for a comprehensive package that would include Ukraine and other allies in Asia. The lack of a national security deal will loom large over Biden’s Friday meeting w ith German Chancellor Olaf Scholz. Biden plans to underscore to Scholz that he remains committed to providing Ukraine the funding it needs to continue to repel the nearly two-year-old Russian invasion. McConnell said in an earlier

have been humiliated,” he said. The Palestinian death toll from four months of war has reached 27,585, according to the Health Ministry in the Hamas-run territory. The ministry does not distinguish between civilians and combatants in its count but says most of the dead have been women and children. Hamas has continued to put up stiff resistance across the territory, and its police force has returned to the streets in places where Israeli troops have pulled back. Hamas is still holding over 130 hostages, but around 30 of them are believed to be dead, with the vast majority killed on October. 7. floor speech that it was essential to assert American strength in Europe, the Middle East and Asia, yet also blamed Biden for not responding sooner to threats from rival powers. “ Eit her we con f ront c h a llenges we face with clear strategy and firm resolve or we lose,” McConnell said. But he reacted with frustration when he was later asked by reporters whether he misread his colleague’s demands for border policy. “I followed the instructions of my conference, who were insisting that we tackle this in October,” he said. “I mean, it’s actually our side that wanted to tackle the border issue. We started it.” After Trump excoriated the compromise, however, the longtime Republican leader has not been able to convince his conference to support the proposal. Within hours of the bill’s release Sunday, Johnson said he would not support it, and even GOP senators who had been supportive of the border policies under discussion came out against the bill on Tuesday. “The politics of this were a big factor,” said Sen. John Cornyn, a Texas Republican. “When the speaker said basically the Senate bill is dead on arrival. And then President Trump weighs in and discourages Republicans from voting for it.” In light of their refusal to support the bill, some congressional Republicans have shifted to blaming Biden, suggesting that he already has the authority to halt the flow of migrants at the US-Mexico border, a vast oversimplification of the matter. The Trump campaign said in a statement that “America does not need a ‘border’ bill that does nothing to deter illegal immigration. We need a President who will use his executive authority to shut the border down.” The Associated Press writer Darlene Superville contributed.

IN Israel, the focus is on the plight of the hostages, with family members and the wider public demanding a deal with Hamas, fearful that time is running out. Israeli forces have only rescued one hostage, while Hamas says several were killed in Israeli airstrikes and failed rescue missions. More t h a n 10 0 ho s t a ge s , mostly women and children, were freed during a weeklong ceasefire in November in exchange for the release of 240 Palestinians imprisoned by Israel. Thousands have taken part in weekly protests calling for the release of the hostages and demanding new elections. But Netanyahu is beholden to farright coalition allies who have threatened to bring down the government if he concedes too much in the negotiations.

That could spell the end of Netanyahu’s long political career and expose him to prosecution over long-standing corruption allegations. But the longer the war continues, the greater risk it spills over into other countries, drawing the US and its allies even deeper into a volatile region. Israel and Lebanon’s powerful Hezbollah militant group have been locked in a low-intensity conflict along the border since the start of the war in Gaza, and the Israeli-occupied West Bank has seen a surge in violence as Israel has launched nightly arrest raids. Iran-backed groups in Syria and Iraq have launched dozens of attacks against bases housing US troops and killed three American soldiers last week, drawing a wave of retaliatory airstrikes. The US and Britain have also carried out strikes against the Iranbacked Houthi rebels in Yemen in response to their attacks on cargo ships in the Red Sea and disruption of global trade. The Houthis, who portray their attacks as a blockade of Israel but have targeted ships with no known connection to the country, attacked two more ships early Tuesday. Shurafa reported from Deir al-Balah, Gaza Strip and Magdy from Cairo.

Cambodian Prime Minister Hun Manet visits Thailand to strengthen close ties

ANGKOK—Cambodia’s Prime Minister Hun Manet on Wednesday made his first official visit to neighboring Thailand since becoming his country’s leader last year, seeking to renew the close ties the two countries have maintained in recent times. In addition to meeting with his Thai counterpart, Srettha Thavisin, Hun Manet presided over the signing of several documents on bilateral cooperation and was scheduled to have a royal audience with King Maha Vajiralongkorn and address a Thailand-Cambodia business forum. Hun Manet’s scheduled one-day visit “is an important opportunity for both countries to further strengthen the bilateral cooperation, especially in the economic development of border areas, promotion of two-way trade and investment, closer transportation connectivity, tourism cooperation as well as fostering closer ties between the peoples of the two kingdoms,” the Thai Foreign Ministry said in a statement. Cambodian government spokesperson Pen Bona said ahead of Hun Manet’s visit to Bangkok that it would reaffirm the close relationship for peace, development and cooperation established by his father and predecessor, Hun Sen. Hun Sen stepped down as prime minister last year after 38 years in power, including periods of tensions with Thailand, especially over territorial disputes. A Thai government summary of the meeting said the two leaders agreed to enhance cooperation in the exploitation of oil and gas resources in the Gulf of Thailand, where the two countries have competing maritime territorial claims. Human rights activists say their cooperation extends to the repression of political dissidents. Several Cambodian opposition figures and other government critics who fled to Thailand to escape arrest under Hun Sen’s government were recently detained in Bangkok in an apparent effort to quash possible

protests against Hun Manet. “(Srettha) reassured Prime Minister Hun Manet that it is Thailand’s policy not to allow anyone to use Thailand as a platform to interfere in the internal affairs, or conduct harmful activities against neighboring countries,” said the Thai statement on their talks. Hun Manet, speaking briefly in front of the media, thanked Thailand for reaffirming its policy of “not allowing Thai territory to be used for any activities for interference in Cambodian internal politics,” apparently referring to the recent detentions. Phil Robertson, deputy Asia director of Human Rights Watch, said that “Hun Manet’s public praise for Thailand’s arrest of Cambodian political activists in exile shows that he really is the new face of transnational repression” in the region. “By trying to wipe out any sign of dissent both in Cambodia, and among the Khmer diaspora, Hun Manet is trying to surpass his father in dictatorial control and rights abusing actions,” Robertson said in an emailed statement. “Thailand’s leaders should recognize that being a good neighbor is about people too, and not just promoting trade and investment, and doing natural gas deals,” he added. Hun Manet and Srettha both assumed office on Aug. 22 last year and quickly set their relations on a positive course with congratulatory phone calls to each other. Srettha paid an official visit to Cambodia last September. Cambodia and Thailand are neighboring countries with generally warm relations. Thailand’s economy dwarfs that of its neighbor, which is one of Asia’s poorest nations. Cambodia sends substantial numbers of laborers to Thailand to fill low-paying jobs, especially in the construction sector. Srettha told Hun Manet that “Thailand attaches high impor tance to making sure that Cambodian workers in Thailand receive fair treatment and a proper economic safety net,” according to the Thai summary of the talks. AP

Thursday, February 8, 2024

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

Former city dwellers inspire Marinduque farmers

Story & photos by Joel C. Paredes

processing. One of their interns, Donna said, is now applying for a license from the Food and Drug Administration to operate her own cacao processing venture.

TA. Cruz, Marinduque—Lenlie Lecaroz and his wife Donna were the typical urbanites when they decided to live in the island province of Marinduque after they got married in 2015. Lenlie, a property development manager and scion of a prominent political family in the island, however, succumbed to cancer in March last year. Prior to his death, the couple managed to develop a sprawling upland property for cacao production from its 5,000 fully-grown trees after initially planting 500 seedlings in the upland barangay of Masalukot, Sta. Cruz town. “They say that the best fertilizer is the farmer’s footsteps. So, we needed to be here,” said Donna, who was a Hong Kong-based e-commerce executive prior to joining her husband in his farming venture. “Even before we got married, we already both a have a penchant for farming.” Today, the Lecarozes’ modern concept of cacao production has not only made an impact on the fast-growing cacao industry, but it has also inspired the local island community which used to be dependent on rice and coconut to collectively modernize farming for value-adding from the processing of various chocolate products. When they moved to the island, the couple had already wanted to help transform the province to become a major player in the country’s fast-growing cacao industry by producing its own brand of tablea—the roasted, ground up cacao beans used for traditional Filipino chocolate drink called “sikwate,” along with high-grade chocolate bars and recently crafted beer made from cacao.

They were also instrumental in organizing the Sagana Agricultural Cooperative, in which the cacao farmers received early this year their highest dividend of 7.5 percent from their common shares since it was registered in 2017. The Lecarozes’ Island Harvest, a corporation which was also their brand name for their processed cacao products, has popularized their local produce in the domestic market.

Empowering farmers, communities

“WE did not want to just teach people. We did not want to just give people help. We wanted to show them and limit ourselves so that there is success for them,” said Donna. The couple then came out with a group concept they called “Panalo sa Tatlo”model.Through farming, Donna said they started promoting cacao and abaca as primary crops, since they are particularly good for intercropping with coconut that covers the island’s major agricultural terrains. The Lecarozes also introduced the concept of “pagawaan,” which is primarily “teaching them how to make products out of the produce so they can value-add and therefore, also increase their income.” Finally, they motivated the farmers, not only to improve the quality of their plants, but to promote community tourism. Near the foot of the island’s mountain, the Lecarozes built the Panuluyan,

‘A good crop’

DONNA LECAROZ

a farm-stay resort, which they are now encouraging farmers in adjacent barangays to duplicate so they can also host their own visitors on their farms. “Once we can do that, we also want to amplify the work that’s being done in this community. That is when we will see the fruition of being what we stand for, which is seeing harvest all over the island,” she said.

Fresh start

WHEN they first moved to Barangay Masualukot, Donna recalls they tried to be “low profile” to prevent any misconception that her husband was planning to venture into politics in Sta. Cruz, which the Lecaros family dominated during administration of the late President Ferdinand E. Marcos. “The island has been very good to their family, and he wanted to give back. But not through politics, but through farming,” she said. At first, the couple lived in an ordinary hut and mingled with the people, until their home was destroyed at the height of a typhoon that struck the island. It was then that they thought of building a farm-stay resort complex. The Baguio-born Donna herself

Big Oil embraces corn as former foes unite against EV threat

FTER decades of battling against more ethanol going into US cars, Big Oil is joining Big Agriculture in a push to expand use of the corn-based biofuel. The longtime foes are increasingly finding common ground as the growth of electric vehicles threatens to slash gasoline demand. Fossil-fuel giants are also ramping up investment in renewable fuels in a bid to capture government incentives aimed at cutting emissions and curbing climate change. “Today’s a different world,” said Bruce Rastetter, founder of Summit Agricultural Group. “It’s a whole sea-change of oil companies working with the biofuels industry to decarbonize the gas tank.” Most of the gasoline sold nationwide contains 10 percent ethanol, known as E10. But selling higher blends of 15 percent, or E15, through the summer months is generally off limits without a waiver from the Environmental Protection Agency. The American Petroleum Institute—the powerful oil lobby—is uniting with the National Corn Growers Association and other groups to support a bipartisan measure from Republican Senator Deb Fischer of Nebraska that would allow year-round sales of E15 across the country. The legislation would also preserve access to lower blends. The collaboration is the biggest so far between the two sides, and is changing the face of energy lobbying on Capitol Hill as they fight for liquid renewable fuels. “We’ve been shoulder-to-shoulder on this,” said Will Hupman, API vice president of downstream

policy. “Historically, that hasn’t been the easiest thing to do.”

Combative history

AMERICA’S petroleum producers have been at odds with farmers since the days of the Model T, when Henry Ford declared ethanol—the alcohol found in wine, beer and liquor—the fuel of the future. But oil magnate John D. Rockefeller and the Prohibition era set a different course for the automotive industry. The US government began to encourage the use of ethanol in the late 1970s following the oil crisis, when President Jimmy Carter tasked agribusiness leaders to produce ethanol as a way of reducing petroleum dependence. ArcherDaniels-Midland Co. started output in 1978. After the 2001 terrorist attacks intensified energy security concerns, Congress established a mandate compelling ethanol and other biofuels to be mixed into the national fuel supply each year. That has sparked an ongoing debate, with oil producers arguing that blending brings higher refining costs, putting labor union jobs at risk and increasing prices at the gas pump. It also has spurred clashes over pollution tied to summer driving. A federal clean air law blocks E15 sales in most of the US from June through mid-September, when summer heat boosts evaporation, increasing the possibility of smog from all gasoline. But the rise of electric cars is set to curb both liquid fuels, bringing oil and farm groups closer together. The Biden administration has set a target for half of all US vehicle

sales to be electric by the end of the decade. While electric cars so far haven’t made a major dent in global fuel demand, BloombergNEF estimates the displacement of oil consumption by EVs will increase to more than 20 million barrels a day by 2040. Ethanol backers such as US Agriculture Secretary Tom Vilsack are pushing biofuels as a significant weapon to help slash carbon emissions, noting that it will take decades or more for America’s passenger-car fleet to be entirely electric. Corn growers say the administration’s approach to climate change is “short-sighted” for prioritizing electric vehicles over biofuels, according to a statement to be released on Wednesday. “If we are going to address climate change and meet our climate goals, we are going to have to take a multi-pronged approach that includes tapping into higher levels of biofuels,” according to a letter viewed by Bloomberg News that will be sent to President Joe Biden on Wednesday. API and other oil groups see the Fischer bill bringing long-term certainty to the marketplace while avoiding potential supply disruptions and upheaval posed by another approach. That alternative path, offered by Midwestern governors, would force the EPA to apply air-pollution requirements evenly to E10 and E15, allowing full sales of the higher blend but effectively compelling a boutique, less-evaporative fuel in those states. The Biden administration is on track to approve the change within months,

confides how she believed in facing new challenges in her life, knowing how it was to be on her own, “being a high school graduate, single parent at 24, with three kids, no skills, and unemployable.” She recalls being forced to look for home-based businesses which eventually became successful. In the late 1990s, she found herself in a boardroom in Hong Kong as a chief executive. Now, in farming, Donna confidently says “any woman can start it.” “It does not require any skills level. It does not require any educational background. I saw farming to raise disadvantaged women and their children,” she said. As a local farmer, Donna later joined the women residents in organizing the “Bayanihan,” a community movement to motivate the farmers’ wives to start their own enterprises. As an initial project, they collectively sell their cacao products every Sunday in their own “Pamilihaan ng Babainihan” near the Lecarozes’ resort. The girls who were accepted as first-year students in local colleges, were also invited as interns in the farm stay and learn cacao despite concerns it would create an uneven patchwork of rules and require the construction of costly new infrastructure. Along with API and the corn growers, support for Fischer’s bill stretches across the political spectrum. The coalition includes the Renewable Fuels Association and Growth Energy, as well as various farm organizations and groups representing fuel marketers and truck stops. “This is the first time I can remember in 20 years where all of these stakeholders have come together and actively lobbied in support of a common interest,” said Geoff Cooper, head of the RFA. Still, the effort faces significant hurdles, including resistance from independent refiners more exposed to biofuel compliance costs. The Fueling American Jobs Coalition that represents union workers and independent oil refiners wants to pair year-round E15 access with caps on the cost of credits used to fulfill annual biofuel quotas. The current bill would only enrich large, integrated oil companies at the expense of merchant refiners, it says. The measure does have the backing of some oil-state legislators including Senator Roger Wicker of Mississippi, a Republican who was among lawmakers fighting to limit ethanol blends to 10 percent in 2013. Brooke Appleton, vice president of public policy for the National Corn Growers Association, said if their effort is successful, she’s hopeful the oil and farm groups can join forces on other issues. “We have a lot more in common than we probably thought we did.” Bloomberg News

DONNA said her late husband was convinced that cacao was a good crop after reviewing the government’s National Cacao Roadmap, which cited cacao as a “priority crop” of the Department of Agriculture. The Philippines, she said, was the top cacao-producing country before World War II, but was eventually overtaken by Indonesia. In recent years, Vietnam and Thailand became major producers. The Marinduque Cacao Council was later organized with Lenlie as its chair, as part of the government’s effort to promote cacao production. Donna then took over the council’s leadership after her husband’s death. Esperanza Roioflorido, 45, said she started as a caretaker for the cooperative but in her workplace, she learned to process raw cacao, which was enough to help her husband, a car repair technician in Manila, in raising their five children.

In March, the Department of Trade and Tourism will finally hand over to the cooperative cacao mechanized processing machines, which were initially leased to them by the government. Donna said they have been getting endemic cacao seeds from Davao which were certified by no less than the University of Southern Mindanao to improve the domestic cacao variety in the island province. After harvest, she said cacao beans are being bought at P140 to P150 per kilo, compared to copra which is sold for P15 per kilo. When the beans are processed into tablea and other processed chocolate, the products can be sold for as high as P500 per pack. “Technology [is] the way to really take farmers out of poverty. They should make money from the product not from the produce,” she said. Today, Donna said she has no regrets fulfilling her husband’s wish. Her eldest daughter, Lally, has recently quit her job as an interior designer and moved out of her Makati home to assist her mother in managing the Panulayan, which is now one of the popular tourist destinations in the island.

Program yields 1.4 tons of milkfish in Lanao del Norte By Manuel T. Cayon @awimailbox

AVAO CITY—A business incubation program of the Department of Agriculture (DA) yielded 1,418 kilograms or 1.4 metric tons of fish from various participants in Lanao del Norte. The DA-National Fisheries R esea rc h a nd De ve lopment I n s t it ut e ( N F R DI ) s a id it s Brack ishwater Fisher ies Research and Development Center (BFRDC) in Lala, Lanao del Norte har vested the milkfish after the initial four-month culture period. The grow-out of the milkfish was an undertaking of the DA’s Technology Business Incubation (TBI) program. “Grow n in brac k ishwater ponds, the harvest had an average survival rate of 87.5 percent,” the DA said in a statement. It added that the abundant yield of the incubatees “resulted from their training in the growout culture of milkfish in brackishwater ponds, which included lectures and practical sessions on pond preparation, feeding management, sampling and monitoring, and marketing.” “Additionally, they received technical assistance from project inception to harvest, ensuring strict adherence to all protocols.” Dr. Casiano H. Choresca Jr., BFRDC chief; Dr. Minerva Fatimae Ventolero, BFRDC assistant chief; Gilda Joannah Calderon

of NFRDI-Aquaculture Research and Development Division; representatives from the Bureau of Fisheries and Aquatic Resources Provincial Fishery Office-Lanao del Norte and officials of Barangay Pacita, Lala, Lanao del Norte, witnessed the first harvest. The DA said its TBI program aims to provide business opp or t u n it ie s a nd l i v e l i ho o d support for the local fishers by promoting matured aquaculture technologies. Meanwhile, 70 fishermen cooperatives from the two provinces of Maguindanao and from the Special Geographic Area (SGA) reported that they already received in December the third batch of brand-new fishing boats from the Bangsamoro government. The December batch of boats amounted to P4.2 million. Mohammad Asnur Pendatun, head of Project Tabang Livelihood Unit of the Bangsamoro government said the autonomous regional government previously distributed 150 fishing boats across the region using funds for 2021 and 2022. Oplan Bangsamoro R apid Assistance’s goal is to support farmers and cooperatives in their day-to-day operations, enhance crop productions, and provide additional economic goods and services. “And we have another 70 new fishing boats, but this time, allotted for Basilan, Sulu, and Tawi-Tawi,” Pendatun said.

A10 Thursday, February 8, 2024 • Editor: Angel R. Calso

Opinion BusinessMirror

www.news.businessmirror@gmail.com

editorial

US Senate exposes failures in protecting kids on social media

hild safety and protection in the digital age is a complex and multifaceted issue that requires a comprehensive approach. The recent hearing by the US Senate Judiciary Committee was an important step in shedding light on the failures of social media platforms in safeguarding children online. It brought to the forefront the urgent need for action and accountability.

One of the key concerns raised during the hearing was the spread of child sexual abuse material and the platforms’ inability to effectively combat it. The executives of the social media platforms faced scrutiny for their negligence and disregard for the potential harms their platforms could inflict on young users. The incidents of child sexual exploitation detailed during the hearing underscored the need for stricter measures and proactive actions to protect children from predators who exploit digital platforms. (Read story in the BusinessMirror: “Meta, X, and TikTok CEOs ripped by senators over child online safety,” February 4, 2024) The concerns raised by US senators are not unfounded. The spread of child sexual abuse material and the platforms’ inability to protect children from predators are serious issues that cannot be ignored. The lawsuits faced by TikTok and Meta (formerly Facebook and Instagram) in California highlight the negligence and disregard for potential harm that these platforms have displayed. The executives must be held accountable for their design choices, failure to invest adequately in trust and safety, and their prioritization of engagement and profit over the basic safety of children. It is commendable that the US Senate Judiciary Committee has taken the initiative to address this matter through legislation targeting online child sexual exploitation. The failure to implement regulations on social media companies over the years has contributed to the current situation. Another critical issue discussed was the impact of social media on the mental health of young people. There is mounting evidence suggesting that excessive use of social media platforms can contribute to anxiety, depression, body image issues, and other mental health challenges among teenagers. During the hearing, it became evident that financial compensation alone is not enough to address the harm caused by these platforms. The emotional toll on victims and their families cannot be undone through monetary means. What is needed is a comprehensive approach that focuses on prevention, stricter regulations, and effective enforcement to deter predators and protect children online. The hearing also highlighted the role of Congress in enacting regulations and setting standards for social media companies. There have been repeated failures in the past to address this issue adequately, and US lawmakers acknowledged their own responsibility in this regard. While the social media platforms’ CEOs outlined various measures they have implemented to enhance child safety, the senators rightly expressed skepticism and demanded more substantial action. It is not enough for these platforms to rely solely on self-regulation and voluntary initiatives. A comprehensive approach is required, including proactive content moderation, age verification mechanisms, and improved reporting systems to swiftly address instances of abuse or harmful content. In the Philippines, much like in many other countries, Filipino children are active users of social media platforms and other online services for their personal and educational use. This exposes them to various risks such as cyberbullying, online predators and scams. According to a survey on online activities of children in the country, 92 percent of respondents who use social media once a week or more were those aged 12 to 15 years. Philippine legislators would greatly benefit from examining the revelations brought to light during the US Senate Judiciary Committee hearing. The said hearing should serve as a powerful catalyst, prompting us to take action to safeguard our children in the digital domain. Now is the time for our lawmakers, parents, and society at large to unite and tackle the pressing concern of online child safety. This necessitates the implementation of thorough legislation, amplified investment in trust and safety measures, and a firm commitment from social media platforms to prioritize the welfare of their users, with a particular focus on children and teenagers.

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China is in freefall John Mangun

OUTSIDE THE BOX

F you are getting your news—and perceptions—about China from the local press, you are woefully ignorant of what is happening in the “Middle Kingdom.” Most reports center on the actions of the Red Dragon in the Philippine economic zone and that is rightfully important. But what is missed about that issue is that the Beijing government is using its self-inflicted conflict with the Philippines for domestic propaganda purposes. There is no better way to quell domestic unrest, primarily economic, than to find an enemy that the people can then rally behind the government to protect its “national sovereignty.” One story picked up from Reuters a few days ago in one major local newspaper was nearly 2,000 words under the headline “How North Korean eyelashes make their way to West as made in China.” Other pertinent information about China might be found on the business page regarding the local stock market. “Negative sentiments on China impact PHL shares, peso on Tuesday” but then again that was on July 18, 2023. A hint about China’s problems came from BusinessMirror a couple of days ago from Bloomberg with the headline “China’s Lunar New Year pork gloom exposes deep economic trouble.” It was a serious article highlighting the Chinese pork glut. “In Beijing’s Xinmin market, vendor Wu Aizhen is struggling. Though

pork prices have fallen by about a fifth compared to a year ago, she is selling a third less than she would in a normal holiday season.” Falling pork prices, combined with significantly lower consumption, is the tip of economic iceberg. The average person has scant awareness of China’s current economic situation. Retail investor bubbles are a result of the herd mentality that gets everyone in on the way up and then when buyers stop buying, prices peak. A lack of liquidity at the top then causes sellers to scramble to get out and then prices crash. Most bubbles happen because of government intervention, as in the case of the Global Debt Crisis when the US government facilitated “bad credit home ownership.” China created its property bubble with massive overbuilding. But the Chinese stock market crash is somewhat different, more similar to the US “Dot Com” bubble in the 1990s, which was fueled by

Four of the last six months saw price deflation in China, a result of lower consumer demand. “Deflation is starting to wield its ugly head. Consumers are waiting for discounts. They’re very nervous,” says the China Market Research Group. For the past 12 months, consumer confidence has never been any lower historically. With the property downturn in its third year, housing starts have fallen by more than 60 percent relative to pre-pandemic levels. corporate—not government—misallocation of resources as venture capital money flooded the start-up and IPO market. Causes notwithstanding, since end December 2021, the broad-based CSI 1000 (1,000 small market capitalization issues) index is down 47 percent, losing 27 percent this yearto-date. The S&P China A 300 Index is off 8 percent since its January open and the Shanghai Composite has lost 9 percent. Even the Hong Kong Hang Seng Index has lost nearly 10 percent in 2024 to a fresh five-year low. The other indexes are back to pre-pandemic levels. However, commentary on the Chinese markets is about on par with commentary on the PSE. “Chinese Stocks Crater After Trump Confirms He Will Impose 60 percent Tariffs.” The US presidential election is in November but a new administration does not start until the end of January 2025. So, Trump may or may not be elected president and

BOE told to rethink QE asset sales costing UK taxpayers billions By Philip Aldrick

K lawmakers called on the Bank of England to rethink the way it’s unwinding its quantitative easing stimulus program, saying asset sales the Treasury indemnified are now costing taxpayers tens of billions of pounds. The Treasury Committee, which is made up of members of Parliament from the main political parties, said the central bank has taken “a leap in the dark” with the policy and had not fully considered “the broader economic consequences” when it was first started in 2009. The remarks add political voices to the calls from economist for the BOE to reconsider the speed at which its selling assets—and realizing losses the Treasury has to cover with taxpayer money. A handful of economists also have expressed concerns about the issue, but the Treasury Committee’s report puts the issue

on the political agenda just weeks before Chancellor of the Exchequer Jeremy Hunt is to deliver his budget statement. Losses on the program are now hitting households, the MPs said. At the November autumn statement, they reduced Hunt’s headroom on the public finances by £28 billion, preventing him from cutting taxes further or spending more on public services. “Current losses have worrying implications for public spending, taxation and borrowing, and for the operational independence of monetary policy,” the commit-

tee wrote in a report published Wednesday. “Given what we now know, there is no reason to think that the arrangements devised more than a decade ago are the most suitable available.” A Treasury spokesperson said: “It is important that the Treasury underwrites the Bank’s asset purchases so it can meet its monetary policy objectives. Over £120 billion has been transferred to the Treasury from the Bank of England between 2012 and 2022. However, it was always expected that losses would be incurred when this was unwound and any future gains or losses are highly uncertain.” The BOE launched QE during the financial crisis to avert a deep recession. Its aim was to repress borrowing costs in financial markets after the benchmark lending rate had been cut to 0.5 percent, which was as low as was believed possible. By 2021, the

may or may not enforce huge tariffs on Chinese goods, which may or may not hurt Chinese businesses. But in any event, all this is one year away. But apparently that is why Chinese investors sold yesterday. The Chinese markets are only reflecting the disaster of the Chinese economy. “China is merging hundreds of small rural banks to stomp out bad loan conditions,” Bloomberg reported. “In 2022, the bad-loan ratio of small banks was twice that of the whole sector. But previous mergers didn’t necessarily improve this.” The Chinese government says that the “Chinese yuan outpaces US dollar to become most traded foreign currency in Russia.” The markets say the yuan has lost 13 percent against the US dollar since January 2022 and four percent in 2024. Four of the last six months saw price deflation in China, a result of lower consumer demand. “Deflation is starting to wield its ugly head. Consumers are waiting for discounts. They’re very nervous,” says the China Market Research Group. For the past 12 months, consumer confidence has never been any lower historically. With the property downturn in its third year, housing starts have fallen by more than 60 percent relative to pre-pandemic levels. There are no rays of sunlight peeking through the dark Chinese economic storm. 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.

bank had bought £895 billion ($1.1 trillion) of assets, almost exclusively UK government bonds, under the program dubbed QE. Although designed as a monetary policy tool, QE had the side effect of lowering government borrowing costs—saving the state £124 billion in total between 2009 and 2022. After a bout of inflation sparked by the pandemic and war in Ukraine, the BOE reversed its policy and began selling assets under a process known as quantitative tightening, or QT. It raised interest rates to tackle soaring inflation and didn’t replace bonds in the portfolio that matured then later turned to direct sales. Higher interest rates led to losses on the portfolio, and under a deal with the Treasury agreed in 2009, the taxpayer indemnifies those losses. The BOE estimates that losses in the years ahead could total £200 See “BOE,” A11

www.news.businessmirror@gmail.com

Johnson suffers surprise defeat after Mayorkas impeachment fails By Maeve Sheehey, Ellen M. Gilmer & Billy House

ouse Speaker Mike Johnson suffered a stunning defeat Tuesday when Republicans narrowly failed to impeach Homeland Security Secretary Alejandro Mayorkas.

It took just three GOP lawmakers to break from party leaders, arguing that discontent with the secretary didn’t meet the constitutional threshold for removal from office. Moments later, Johnson lost a second vote on Israel war aid, underscoring the tentative grasp he holds on the speakership of a small and fractious majority. Johnson spokesman Raj Shah said in a post on the social media platform X that Republicans “fully intend to bring Articles of Impeachment against Secretary Mayorkas back to the floor when we have the votes for passage.” That vote could come within days. The Cuban-born Mayorkas, the first immigrant and first Latino to lead the Department of Homeland Security, would have been only the second cabinet official to be impeached by the House. The 214-216 vote Tuesday came as Republicans charged Mayorkas, 64, with refusing to enforce immigration laws and breaching the public trust in failing to secure the border. “This baseless impeachment should never have moved forward; it faces bipartisan opposition and legal experts resoundingly say it is unconstitutional,” Mia Ehrenberg, a Homeland Security spokesperson, said in a statement. At the White House, spokesman Ian Sams called the effort a “waste of time” and one of Republicans’ “extreme political stunts.” Just as the vote neared its close and Mayorkas appeared on the verge of impeachment, an aide wheeled in Representative Al Green, a Texas Democrat. He wore what appeared to be hospital scrub pants and without shoes on. Green’s firm “no” on impeachment changed the math and the number of Republicans needed to succeed. After Green voted, Democratic leader Hakeem Jeffries approached to shake his hand. Green watched the vote from his wheelchair, and an aide wheeled him back out once it was sealed. Four Republicans voted with all Democrats against the impeachment articles. House Majority Leader Steve Scalise, who is undergoing cancer treatments, was absent. Johnson is expected to try again when Scalise returns and impeachment would be all but assured. One of the Republicans, Blake Moore of Utah, switched his vote to “no” to avoid a tie vote, allowing Johnson to bring the impeachment articles back up. A Scalise spokesperson said he would not return to the House Wednesday. Separately, Republicans face a potential Democratic gain in a special House election next Tuesday in New York to elect a successor to George Santos, who was expelled in December. “A delay is what this is,” Republican Mark Green of Tennessee said after the vote. Ken Buck, a Colorado Republican who has opposed the impeachment, predicted that it ultimately will pass. Republican leaders are escalating attacks on the Biden administration’s border enforcement record as backlash against surging migration moves to the center of the presidential campaign. Yet even some prominent conservative legal scholars have criticized the impeachment articles as inadequate and a break from historic precedent. Still, House Republican leaders are pressing ahead with an impeachment investigation against President Joe Biden, targeting his son Hunter Biden’s business dealings. The vote on Mayorkas came as a

Just as the vote neared its close and Mayorkas appeared on the verge of impeachment, an aide wheeled in Representative Al Green, a Texas Democrat. He wore what appeared to be hospital scrub pants and without shoes on. Green’s firm “no” on impeachment changed the math and the number of Republicans needed to succeed. two-day-old bipartisan deal to crack down on illegal border crossings and impose new restrictions on migration was nearing collapse. Republican support faltered after the party’s presidential front-runner, Donald Trump, attacked the deal, arguing the border legislation would be “a great gift for Democrats.” Immigration has risen to near the top of voters’ election-year concerns as illegal border crossings soar while inflation eases, unemployment remains low and consumer confidence strengthens. A tough stance on immigration enforcement has been central to Trump’s political identity throughout his electoral career, and he is again making it a pillar of his presidential campaign. Biden is vulnerable on the issue, with six in 10 swing-state voters saying he bears responsibility for the migration surge, according to a Bloomberg News/Morning Consult poll. Johnson earlier Tuesday said Mayorkas “has engaged in a complete dereliction of duty” and misrepresented facts to Congress, leaving the House with no choice but to impeach him. “I don’t believe there’s ever been a cabinet secretary who so blatantly, openly, willfully, and without remorse—did exactly the opposite what the federal law requires them to do,” Johnson said. “It’s an extreme measure. But extreme times call for extreme measures.” Yet even conservative legal scholars who’ve defended Trump, including George Washington University professor Jonathan Turley, criticized the Republican impeachment effort against Mayorkas for not meeting “high crime and misdemeanors” threshold set in the Constitution. The first article against Mayorkas accuses the secretary of failing to enforce provisions of the Immigration and Nationality Act, including parts that mandate detention of immigrants who’ve crossed the border illegally and limit the president’s use of parole authority to allow entry on a case-by-case basis. The second article says he violated the “public trust” by telling Congress the border is secure and failing to adequately consider border security alternatives when scrapping some Trump-era initiatives. Homeland Security has strongly denied the Republican claims, pointing out that no administration has ever detained all immigrants who cross the border illegally. The department also argues that Bidenera immigration parole programs, while open to large categories of people, still rely on case-by-case approvals. The only time the House has impeached a cabinet secretary was 1876, after a congressional committee found evidence Secretary of War William Belknap had been operating a kickback scheme startling even the scandal-tarnished administration of President Ulysses S Grant. Belknap resigned the same day he was impeached and was acquitted after a Senate trial. With assistance from Jonathan Tamari /Bloomberg

Opinion BusinessMirror

Thursday, February 8, 2024 A11

Boeing 737 in Alaska Air accident was missing bolts, US says By Alan Levin and Ryan Beene

our bolts that should have prevented a panel from flying off an Alaska Airlines jet at 16,000 feet were apparently missing, US investigators said Tuesday, fueling more scrutiny about manufacturer Boeing Co.’s ability to ensure the safety of its planes.

Photos and other evidence suggest the bolts were removed for work at Boeing’s Renton, Washington, factory and not replaced, according to a preliminary 19-page report from the National Transportation Safety Board. The incident has become the biggest crisis for Boeing since its entire fleet of Max jets was grounded worldwide in 2019 following two fatal crashes. Max 9 jets with the same configuration as the Alaska plane were grounded for weeks until they could be inspected, and regulators are poring over Boeing’s manufacturing processes and ratcheting up pressure on the company’s management. The report reaches no conclusions about what caused the January 5 accident, but it’s an unusually detailed account of the safety board’s initial fact-gathering. The independent agency can take a year or longer to reach a formal conclusion. The findings point to “a breakdown in the quality management system within Boeing’s four walls,” said Melius Research analyst Rob Spingarn. Boeing said it will review the report and continue to cooperate with US investigators. “Whatever final conclusions are reached, Boeing is accountable for what happened,” Chief Executive Officer Dave Calhoun said in a

statement. “We are implementing a comprehensive plan to strengthen quality and the confidence of our stakeholders.” The US Federal Aviation Administration last month blocked Boeing from increasing 737 Max production as the agency reviews its quality practices. On Tuesday, key supplier Spirit AeroSystems Holdings Inc., which builds the 737 fuselages, declined to issue full-year guidance due to uncertainty over Boeing’s production rate. Boeing shares rose 0.9 percent on Tuesday. The stock has fallen 20 percent since the beginning of the year. Spirit Aero gained 5 percent, paring its 2024 slump to about 12 percent. The NTSB report shows that the day after arriving at Boeing’s Renton facility on August 31, the 737 Max 9 airframe was flagged for having five damaged rivets along the side of the door plug where the failure later occurred. To replace those rivets, mechanics had to remove the door plug and four retaining bolts that hold it in place. The rivets were replaced, according to a report by Spirit Aero personnel on September 19. Afterward, a photo obtained by NTSB investigators showed the door plug missing retention bolts in at least three places. The photo was shared by Boeing employees before work on the plane’s interior, the report said.

In addition, the holes where the retention bolts would have been installed showed “no evidence of heavy contact damage,” the NTSB said. That suggests the bolts weren’t present when the panel blew open on the Alaska Air Group Inc. jet shortly after takeoff from Portland last month. The plane violently lost pressure and was forced to make an emergency landing. Seven passengers and a flight attendant reported minor injuries. Bloomberg reported last month that two different record-keeping systems were used by Boeing to track work on 737s and that appears to have led to confusion at the Renton factory, according to people familiar with the incident. The NTSB report said the “investigation continues to determine what manufacturing documents were used to authorize the opening and closing” of the panel that failed. Melius’ Spingarn said the report raises questions about why the plug was apparently not re-inspected to ensure the bolts were in place after the plug was removed and reinstalled. “In this instance, we seem to have multiple points of failure in that the bolts were not reinstalled, and then that mistake was not caught and corrected before the aircraft left the factory,” he said. The FAA is conducting enhanced oversight of Boeing and Spirit. FAA Administrator Michael Whitaker on Tuesday told US House of Representatives lawmakers that the agency’s reviews are still underway, but so far it hadn’t found anything that would require “immediate action.” Initial findings may be re-

leased this month. Issues with Boeing’s work on the Max family of aircraft continue to emerge. On February 4, the company disclosed that it had learned of manufacturing flaws with rivet holes in about 50 undelivered 737s. The problem originated with Spirit, a spokesman for that company said. It was the latest in a series of glitches originating with Boeing’s former aerostructures unit. A drilling mishap on an aft pressure bulkhead supplied by Spirit Aero slowed deliveries of the 737 Max last year, the planemaker’s most important generator of cash flow. A separate issue with tail-fin fittings affected output earlier in 2023. The NTSB report shows “Boeing has serious work to do to rebuild its safety culture and the confidence of its customers and the flying public,” Representative Rick Larsen of Washington state, the highest ranking Democrat on the Transportation and Infrastructure Committee, said in a statement. Senator Maria Cantwell, the Washington Democrat who chairs the Commerce Committee, said she would hold hearings on the issues raised by NTSB. Boeing will also have to contend with the possibility of labor disruption later this year. Boeing’s largest union, the International Association of Machinists and Aerospace Workers, will demand a 40% pay raise over three or four years, emboldened by a resurgent US labor movement, a scarcity of qualified aerospace workers and pressure on Boeing to stabilize work in its factories. With assistance from Ari Natter and Lillianna Byington /Bloomberg

A computer scientist says he’s the mystery creator of bitcoin. A London judge aims to find the truth By Brian Melley | The Associated Press

pending lawsuits that Wright has filed based on his claim to having the intellectual property rights to bitcoin. “Wright has threatened to bankrupt developers, sent notices of his intent to sue, and has, in fact, engaged in scorched earth litigation against these volunteers, all premised on the baseless assertion that he is the founder of bitcoin,” the alliance said Monday in a statement. The murky origins of bitcoin date to the height of the financial crisis in 2008. A paper authored by a person or group using the Nakamoto pen name explained how digital currency could be sent around the world anonymously, without banks or national currencies. Nakamoto seemed to vanish three years later. Speculation on the true identity swirled for years and the names of several candidates had emerged when Wright first surfaced to claim the identity in 2016 only to quickly return to the shadows, saying he didn’t “have the courage” to provide more proof. Wright asserted in court Tuesday that he created the technology and the cryptic identity behind it, which

he said was based on his admiration for Japanese culture. He said the name was a combination of the surname of philosopher Tominaga Nakamoto and Satoshi David, a figure in a book about American tycoon J.P. Morgan, and a Pokemon character. He said he didn’t want the creator to be anonymous, so he used an alias to protect his privacy. “This allowed me to focus on my work and ensured that the spotlight remained on the innovation and potential of bitcoin rather than the individual behind it,” he said. Defense lawyer Anthony Grabiner said the alliance hadn’t produced positive evidence that Wright wasn’t Satoshi, and only sought to undermine the authenticity of documents that he has relied on to prove that he’s the creator. “It is striking that no one else has credibly claimed the mantle of Satoshi, despite the high-profile nature of Dr. Wright’s claim to be Satoshi,” Grabiner said. “If Dr. Wright were not Satoshi, the real Satoshi would have been expected to come forward to counter the claim.” While Wright managed to convince several influential bitcoin enthusiasts that he was the real deal by demonstrating the use of Nakamoto’s secret bitcoin keys, other crypto experts said that they debunked his claims. Despite widespread skepticism in the cryptocurrency community, he has prevailed in court cases. In 2021, he won a civil case in Florida against the family of a deceased business partner that claimed it was

owed half the 1.1 million bitcoin, worth approximately 37.7 billion pounds ($47.5 billion) today, that could only be owned by a person or entity involved with the digital currency from its beginning—such as the creator. Wright and other cryptocurrency experts testified at trial that he owned the bitcoin in question. His lawyers claimed that while he had collaborated with his deceased friend, David Kleiman, their partnership had nothing to do with bitcoin’s creation or early operation. Because all bitcoin transactions are public, members of the bitcoin community have regularly called for Wright to move just a fraction of the coins to prove ownership. Wright appears to have never done so, despite vowing to prove that he’s the owner of the fortune. In the London trial, Hough repeatedly sparred with Wright over the authenticity of documents that he said support his claims. Hough said that the original white paper on the creation of bitcoin was written on OpenOffice software and that experts on both sides agreed that Wright submitted a version created on software called LaTeX, which didn’t exist when the paper was written. Hough suggested that numbers misaligned on the document behind the “origin myth” were signs it had been forged. “If I forged that document, it would be perfect,” said Wright, who is due to testify for another five days.

should be included in any future decisions. “It strikes us as highly anomalous that decisions have been and are being taken concerning huge sums of public money without any regard to the usual value-for-money requirements,” they said. Then-Chancellor George Osborne’s decision in 2012 to pocket the profits when rates were low “should be reconsidered” in the future, they said. Several economists have called on the Treasury to change the way the program operates to save billions of

pounds. Under the proposal, the money created by the BOE to buy assets would be paid a lower interest rate. That money is held as BOE “reserves” and the interest is paid to commercial high street banks. Cutting the interest rate has been compared to a tax on the banks, however, and the committee warned changing the remuneration rate “could be similar to a default.” “We do not support cutting the remuneration of reserves,” the MPs said. “We believe taxes on banks should be set through Parliament in

a Finance Bill.” However, they added that the BOE and Treasury should clarify how the reserves will be remunerated when they have been reduced to a “steady state” level. The BOE estimates the steady state to be between £335 billion and £495 billion, down from the original £895 billion. To protect taxpayers, the government could also change its debt rule or the accounting treatment of QT to exclude profits and losses caused by the program, the committee said. Bloomberg

ONDON—One of the enduring mysteries of the cryptocurrency industry took center stage Tuesday in a London court where a trial could finally settle the debate over the identity of bitcoin’s founder. Australian computer scientist Craig Wright entered the witness box at the High Court and testified he was the man behind “Satoshi Nakamoto,” the pseudonym that has masked the identity of the creator of bitcoin. Wright has long asserted that he is Nakamoto. A nonprofit group of technology and crypto companies is trying to prove he’s not. The trial started on Monday and is expected to last a month, before a judge rules at a later date. “Wright’s claim to be Satoshi is a lie, founded on an elaborate false narrative backed by forgery of documents on an industrial scale,” attorney Jonathan Hough said on behalf of the Crypto Open Patent Alliance (COPA) at the outset of trial. “As his false documents and inconsistencies have been exposed, he has resorted to further forgery and ever more implausible excuses.” At stake is not just bragging rights to the creation, but control of the intellectual property rights. Wright has used his claim as bitcoin’s inventor to file litigation to drive developers away from further developing the open-source technology, the alliance claims in their lawsuit. The ruling will affect three

BOE . . .

continued from A10

billion, leaving the state with a net lifetime loss of as much as £80 billion for the program, according to a BOE report published Tuesday. This year alone, the cost to the taxpayer will be £40 billion. The MPs said QT had created “direct links between monetary policy decisions and fiscal policy” and called on the BOE and the Treasury to investigate whether “value for money”

A12 Thursday, February 8, 2024

ADB’s $400-M loan boosts DOF’s digitalized tax system P T

SHIFT TO SURFACE WATER WILL CUT SCARCITY PROBLEM–PBBM By Samuel P. Medenilla

By Reine Juvierre S. Alberto

HE Asian Development Bank (ADB) has committed to support the digitalization efforts of the Department of Finance (DOF) to enhance its tax collection strategy in a bid for an efficient and aggressive tax administration.

In a statement on Wednesday, the DOF said the ADB, through the $400-million Domestic Resource Mobilization policy-based loan, will provide support for Finance Secretary Ralph G. Recto’s thrust for adapting digital technologies for tax collection. “The digitalization projects with ADB and World Bank [are part of DOF’s efforts for] anti-corruption, improving efficiency drive throughout the government, and ease of doing business,” Recto told the BusinessMirror in a Viber message. The policy-based loan was granted to the Philippines in 2023 to help achieve its medium-term fiscal strategy and finance its post-pandemic economic recovery through a stronger focus on revenue mobilization, including modernizing through digitalization the tax administration, systems, and processes. Recto pointed out the need for

a “more unified interagency coordination among national and local agencies to harmonize records of registered taxpayers and optimize tax collection efficiency” during Tuesday’s meeting with ADB senior officials. This is in line with President Ferdinand Marcos Jr.’s mandate to government agencies to adopt digital payment systems for government disbursements and collections under Executive Order (EO) No. 170. In addition, the ADB is providing technical assistance to the Bureau of Internal Revenue (BIR) in its digitalization efforts. This prepares an investment project in 2025, according to the DOF. Previously, Recto said, “Government offices must rapidly integrate digital technologies across the bureaucracy to enhance the ease of doing business, streamline processes, expedite responses, and promptly

deliver public services to our people.” (See: https://businessmirror.com.ph/2024/02/05/rectowants-rapid-digital-transformation-for-eodb/) The finance chief, meanwhile, also emphasized that the DOF is currently amending the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act to better meet the interests of investors in strategic investments. Recto added that in order to increase revenue generation, the Department is pushing for the passage of its refined tax reform measures. The Passive Income and Financial Intermediary Taxation Act (Pifita), the Motor Vehicle Road User’s Tax (MVRUT), the rationalization of the mining fiscal regime, the imposition of value-added tax on digital service providers (DSPs), and the imposition of excise tax on singleuse plastics (SUPs) are some of these reforms. For its part, the ADB said it would be willing to support these reform proposals and had previously given the department technical assistance in creating sound fiscal and tax policies. Recto also told the ADB about the national government’s “aggressive efforts to attract foreign and domestic investments” and acknowledged their “crucial role in creating quality jobs for Filipinos and stimulating economic growth.” The ADB, meanwhile, affirmed its

“commitment to likewise strengthen cooperation with the Philippine government on infrastructure modernization, particularly on publicprivate partnerships (PPPs).” The Bank added that it will continue to work on supporting the national government to deliver “more effective and innovative infrastructure projects” through the Infrastructure Preparation and Innovation Facility (IPIF). 1A technical assistance loan, the IPIF is provided by the ADB to support the initiatives of the Department of Transportation (DOTr) and the Department of Public Works and Highways (DPWH) in preparing, implementing, and managing public infrastructure investments to deliver more effective and more innovative infrastructure projects. The national government and the ADB have agreed to work on developing pipeline projects and programs, specifically in green infrastructure and clean energy, under the $10-billion climate financing commitment of the ADB for the years 2024 to 2029. The ADB ranks as the secondlargest official development assistance (ODA) partner in the Philippines, with a total commitment of USD9.67 billion. This accounts for 28 percent of the total ODA share, as of September 30, 2023. An average of $1.64 billion in loan financing annually has been made by the ADB to the Philippines for the period 2010 to 2023.

@sam_medenilla

RESIDENT Ferdinand R. Marcos, Jr. called for a sustainable solution to address the “perpetual threat” of water scarcity amid the warming climate. During the inauguration of the Davao City Bulk Water Supply Project (DCBWS) in Davao City on Wednesday, Marcos announced the shift in government policy of reducing the country’s reliance on ground water through wells by tapping surface water instead. He noted this will ensure the public has a renewable source of water. “This is very important as we have changed [the] policy and we are now starting to feel the effects of what we have been doing in the past, that is digging wells. And our aquifers are already starting to feel the effects and they are not being replenished enough,” Marcos said. The President said projects such as the DCBWS, which makes use of surface water, are crucial for the country’s water security. The state-of-art facility is a public-private partnership (PPP) of the Aboitiz-owned Apo Agua Infrastructura Inc. and the Davao City Water District (DCWD), which taps water from the Taguan River. It helps supply 300 million

liters of water to over a million households in Davao City, but also generate electricity through its hydro power plant. The DCBWS started its operation on December 1, 2023.

Water scarcity

MARCOS reiterated his call to concerned government agencies to expedite the completion of water-related projects to minimize the impact of the ongoing El Niño phenomenon, which is reducing the country’s average rainfall. “Any disruption to the water supply, such as the one posed by the El Niño phenomenon, which we are feeling the effects of now, degrades our quality of life, it dampens economic activities, and can fuel disorder,” Marcos said. “Of all emergencies, water scarcity is the hardest to contain. It is, however, preventable —with foresight, right plans, united action, and strong political will,” he added. The Department of Agriculture reported El Niño already affected the production in areas, which rely mainly on rain for sustaining agricultural lands. The Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) also reported nine dams in Luzon now have below normal water levels. It projected the effects of El Niño will last until the second half of the year.

Exec in ₧17-M fake Italian jobs scam has flown abroad

SENATOR Raffy Tulfo, chairperson of the Committee on Migrant Workers, leads a public hearing on Wednesday into illegal recruitment practices in general, with particular focus on a jobs scam perpetrated against Filipinos in Italy who paid exorbitant fees to an immigration consultancy firm that promised their Philippine-based relatives nonexistent jobs. At right is Elmer Cato, the Philippine Consul General to Milan, who reported that 92 cases have thus far been filed by a DF-hired lawyer against the agency, Alpha Assistenza, before the Office of the Prosecutor in Milan. ROY DOMINGO

HE key officers of an immigration consultancy firm accused of duping hundreds of Filipino jobseekers have fled the Philippines, senators probing illegal recruitment practices learned on Wednesday, amid the filing of a total of 92 complaints involving 219 victims and a total amount of 338,100 euros, or over P17 million, scammed. The Senate Committee on Migrant Workers, chaired by Sen. Raffy Tulfo, and Deputy Minority Leader Sen. Risa Hontiveros were asking representatives of the Department of Justice at the hearing whether a hold-departure order against officers of Alpha Assistenza SRL could be issued, and were advised by DOJ that a Supreme Court ruling had barred it from issuing HDOs, which only a court may do so, and that the department was limited to “issuing only an immigration lookout bulletin order” or ILBO. Then the information cropped up, relayed to senators, that Alpha’s Krizelle Diane Respicio had already flown to Saudi Arabia from Manila in December. Hontiveros expressed hope that the long arm of the law could catch up with Alpha Assistenza, against whom a total of 92 complaints have been filed before the Office of the Public Prosecutor in Milan, as reported by Consul General Elmer Cato. His earlier proposal to tap an Italian lawyer for the victims was approved by the Department of Foreign

Affairs. In the case buildup before the Milan prosecutor, Respicio and John Dutaro were accused of collecting about 338,000 euros (P17,230,805) from 102 Filipinos in Italy who represent 219 aspiring Filipino workers in Manila, in exchange for promises of nonexistent jobs. At the public hearing on Wednesday, Hontiveros said that while concerned government agencies are going after illegal recruiters, the mere filing of charges falls short of achieving justice. “The fight against illegal recruitment should be intensified to bring these perpetrators to justice. We support and encourage Bilateral Labor Agreements with receiving countries, as well as international labor standards and agreements on labor and migration,” the deputy minority leader said. In its position paper, the Philippine Post in Milan had stressed the “need to enter into a bilateral labor agreement with Italy to likewise ensure that Italian employers and their Filipino employees are both protected and that loopholes in the current direct-hiring process for foreign workers are not exploited” by unscrupulous individuals and agencies in both countries. Filing the cases against Alpha in both Italy and the Philippines is a step toward the right direction, but it will not end “the predatory practices of other patronati,” according to Consul General Cato, who believes

a rival patronato that wants to corner the market is behind the smear campaign against him because he had signalled plans to regulate the activities of patronati. He has strongly denied insinuations he coddled Alpha, saying a photo of him with Respicio at a public event was just one of hundreds that Filipinos usually take when they see embassy officials, and refer to them as “tatay-tatayan” [like a father]. Cato has provided the committee a detailed timeline to illustrate how the Milan post had promptly acted on the brewing complaints against Alpha just a month after he assumed his post in Milan. Cato explained that unlike other hosts of migrant labor, Italy provides several pathways to allow qualified Filipinos to bring family members into the country. One such scheme is the decrerto flussi that allows seasonal workers from the Philippines and other contries to come to Italy. Many Filipinos entered Italy through this program with the help of service providers called patronati, registered entities funded by the Italian government to extend free services to the public on concerns related to social security, tax and immigration assistance. The patronati are not licensed recruiters, but some unscrupulous entities have, like Alpha is accused of doing, charged exorbitant fees for services rendered in connection with decreto flussi application. Butch Fernandez

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, February 8, 2024

PhilTower, MIDC to create joint venture

Globe: Revenues will grow despite headwinds in 2024 P

By Lorenz S. Marasigan

@lorenzmarasigan

lobe Telecom Inc. expects its revenues to continue growing by “low to mid-single digit” this year, almost similar to its performance in 2023, due to economic headwinds.

Ernest Cu, the company’s president, said on Wednesday Globe has a “more positive” outlook for 2024, “as inflation continues to abate.” Historically, inflation causes consumer wallets to shrink, making telco services one of the first to be reduced in terms of allocation. “The outlook is more positive,

given that inflation continues to abate. We saw some pretty good numbers once again just recently. And hopefully that is for the BSP [Bangko Sentral ng Pilipinas] to lower the interest rates and stimulate more business activity,” he said during the company’s financial briefing for the full year of 2023.

Cu said the telco business of Globe is now mature and is “quite” dependent on expansion. “That’s why we’re also very happy and fortunate that the growth that we saw in 2023 was quite robust in relative terms to other telcos we see in the world. As far as expansion continues to explore solutions that we can provide to the Filipino public in terms of a digital service, that can ease the burden of daily life using the different assets that we have at Globe.” In 2023, Globe saw its profits dwindling by 29 percent to P24.58 billion from P34.61 billion, due to higher depreciation expenses coupled with non-operating charges that fully offset the three-percent increase in revenues. Globe’s top line stood at P162.33

billion, a new record high, from P157.98 billion as its mobile and corporate data businesses as well as non-telco services posted “robust growth.” Of the five business segments, fixed line voice posted a 20-percent decline in revenues and home broadband recorded a seven-percent drop. The three others mobile, corporate data, and non-telco services, grew by five percent, seven percent, and 18 percent, respectively. Globe’s operating expenses and subsidy grew parallel to its revenues at three percent to P80.91 billion from P78.88 billion. For 2024, Globe is allocating $1 billion in capital expenditures, lower than the $1.3-billion allotted for 2023, as it seeks to free up cash flow in the long term.

FDC lists ₧10-B bonds on PDEx By VG Cabuag @villygc

ilinvest Development Corp. (FDC) on Wednesday listed its P10 billion fixed-rate bonds on the Philippine Dealing and Exchange Corp. (PDEx). The bond issuance consisted of a base offer of P7 billion, with an option for oversubscription of up to P3 billion. The bond carried interest rate of 6.3206 percent per annum and a maturity of 2.5 years. The company said it had significant interest from investors, with subscriptions exceeding the base offer by more than fourfold. “We saw the success of the unwavering efforts of the joint lead underwriters and

bookrunners with the offer achieving total bids of P31.5 billion, or 4.5 times oversubscription over the base issuance of P7 billion. FDC is committed to living up to the trust the investing community has placed in us,” said Rhoda A. Huang, the company’s president and CEO. “The net proceeds from this issuance will be used to partially finance our maturing bonds redemption and capital expenditures to accelerate the growth of our businesses. This includes financing our equity investments in renewable energy and water, hospitality and digitalization projects.” The P10-billion bond offer is the first tranche of the company’s P32-billion bond program.

Meanwhile, the Securities and Exchange Commission (SEC) congratulated the Filinvest Group for its return to the local debt capital market after 10 years. The SEC processed FDC’s application within 28 days, signaling a proactive approach to facilitating bond market participation among issuers, the company said. “There is no doubt in saying that FDC, as an industry leader, is certain to reach promising heights and might even surpass excellence in achieving all their goals. To Filinvest Development Corp., we wish you and express our heartfelt gratitude for all your efforts in contributing to our nation’s advancement and economic growth,” SEC Chairman Emilio Aquino said.

Meralco counters P4P allegations Fruitas opens 3 Ling Nam T branches By Lenie Lectura @llectura

ruitas Holdings Inc., a food and beverage kiosks operator, on Wednesday said it opened three new Ling Nam restaurants across three major cities in the Metro Manila in January. The company said it opened branches each in Quezon City, Caloocan and Makati City. “This strategic expansion underscores Fruitas group’s commitment to providing quality dining experiences and strengthening its presence in the industry,” the company said. Ling Nam opened its newest establishment in Ziti Center Mall, Caloocan City, last January 3. It has a private room for meetings and intimate gatherings, along with a seating capacity of 48 people. It also opened a branch in Ever Commonwealth, Quezon City last January 15. It is located at the ground floor, Calle Bistro, Don Antonio Road. The restaurant caters to families. In Makati, the company launched of Ling Nam Noodle Bar, which is located at the Grid Co-Living, Yakal corner Lumbayao and Bakawan Streets, San Antonio Village. It opened last January 24. “It is only the beginning of our fruitful expansion in the casual and formal dining space this year. We’re very much excited to bring Ling Nam’s authentic delicacies across the Philippines which our countrymen will surely love” Lester Yu, the company’s president and CEO, said. VG Cabuag

he Manila Electric Co. (Meralco) refutes claims made by the Power for People Coalition (P4P) that the utility firm is “hell-bent on making 2024 a year of expensive electricity for consumers.” As a highly regulated entity, Meralco said it strictly adheres to the rules set by the Energy Regulatory Commission (ERC) and the Department of Energy (DOE) for the conduct of the competitive selection process (CSP), which is meant to secure sufficient power supply at the least possible cost. “This is to minimize, if not avoid, dependence on the Wholesale Electricity Spot Market [WESM], where prices are known to be highly volatile especially during the dry season given the higher demand and the historically tight supply. If any, Meralco’s CSPs aim to benefit the public by ensuring sufficient and reliable energy at the most competitive cost in accordance with the policies set by the ERC,” Meralco said on Wednesday. P4P has raised the alarm over the new CSP initiated by Meralco, which in January resulted in bids amounting to 3,000 megawatts (MW) of gas and coal contracts. P4P claimed that these contracts, unlike previous contracts of Meralco terminated last year, also make way for passed on fuel costs. “Meralco’s claims of providing least-cost electricity is a fairy tale without the happily ever after. Meralco’s claim that its new contracts will provide consumers with the least cost electricity cannot be true when volatile and expensive costs of imported gas and coal are hidden in the bid prices and are eventually passed on to electric consumers. Regardless of the prices in the bids, ordinary citizens struggling to make ends meet will pay higher electricity bills in 2024,” P4P said. In t he recent ly conc luded CSP for

1,200MW baseload capacity, Meralco secured the best bid offer from South Premiere Power Corp (SPPC), which offered a total levelized cost of electricity (LCOE) rate at P7.0718 per kilowatt-hour (kWh) for the entire 1,200-MW requirement. During the CSP, Meralco said the bidding documents were also updated to consider the recommendations of ERC Chairperson Monalisa Dimalanta. For the 1,800MW CSP, Meralco received the best offers from GNPower Dinginin Ltd. Co. (GNPD), Mariveles Power Generation Corp. (MPGC), and Excellent Energy Resources Inc. (EERI). GNPD offered a total LCOE rate of P6.8580 per kWh for 300 MW of the total requirement, while MPGC offered P6.9971 per kWh LCOE for another 300 MW of supply. EERI, meanwhile, placed the bid for the 1,200-MW supply at P7.1094 per kWh LCOE. Masinloc Power Co. Ltd. (MPCL), the other generation company that participated in the bidding, offered for 300 MW at a rate of P7.1417 per kWh. However, with EERI’s bid completing the required 1,800 MW total supply requirement, MPCL’s offer was designated as a possible next best bid. “As to allegations of collusion, Meralco’s CSPs are highly transparent, with all bidding proceedings conducted in an open and transparent manner. To further ensure transparency and fairness, CSP observers witnessed the submission and opening of bids and the proceedings were streamed live. In fact many of the recommendations of government in terms of the bidding were adopted by the Bids and Awards Committee,” the utility firm said.

hil-Tower Consortium Inc. (PhilTower) and Miescor Infrastructure Development Corp. (MIDC) are teaming up to form a joint venture company that aims to provide enhanced coverage for mobile network operators. According to a disclosure to the stock exchange, the t wo groups are forming a joint venture company that will leverage their complementary geographic footprints, which now house telco equipment for both 4G and 5G. “The joint venture company will have Philippine-wide coverage and is well placed to support the growing connectivity needs of the country. The announcement follows a year of significant growth in the Philippine information and communications technology sector, with investment approvals exceeding $1.7 billion (P96.16 billion),” the disclosure by Manila Electric Co. (Meralco)

read. Currently, PhilTower manages over 1,250 towers across Luzon, Visayas, and Mindanao, while MIDC operates a similar number, primarily concentrated in Luzon. Based on the disclosure, the transaction is still subject to regulatory review by the Philippines Securities and Exchange Commission and the Philippine Competition Commission. MIDC, registered w ith the Department of Information and Communications Technolog y, specializes in tower construction, site acquisition, permitting, erection of towers, and tower management services for telecommunications companies. The company is a joint venture between Miescor, a subsidiary of Meralco, and Stonepeak, a leading alternative investment firm with approximately $61.1 billion in assets under management as of September 2023. Lorenz S. Marasigan

Companies BusinessMirror

Thursday, February 8, 2024

www.businessmirror.com.ph

PAVI unit plans to put up transmission facility

By Lenie Lectura

@llectura

AVI Green Camsur Renewable Energy Inc. (PGCSREI) wants to develop a dedicated transmission facility worth P330 million that will connect its 40 megawatt (MW) solar power project to the 69kV Naga substation of the National Grid Corporation of the Philippines (NGCP).

PGCSREI, a wholly-owned subsidiary of Prime Asset Ventures Inc., is asking the Energy Regulatory Commission (ERC) to issue a provisional authority to develop and own the point-to-point transmission facility with an estimated cost of P329,574,457.60. The proposed facility, said PGCSREI, is the only viable option for connecting the PAVI Green Naga solar project because of its proximity to the Naga 69kV substation and because of the lower operating cost

that PGCSREI will incur. “In the interconnection facilities study, NGCP recommended that the PAVI Green Naga solar project shall connect to the existing Naga 69kV substation via an approximately 9-km connection line and will utilize a single circuit. The dedicated facility project is the most cost-effective and viable option for the immediate connection of the PAVI Naga project,” said PGCSREI in its application filed with the ERC.

The construction of the proposed project may be completed by October 2024. PGCSREI has already issued a bid invite for the engineering, construction, and procurement of the transmission line and substation. Based on the system impact study performed by NGCP, the connection of the PAVI Green Naga solar project to the Luzon grid was found to be technically feasible through the dedicated facility project. Upon completion of the dedicated

transmission project and the commercial operation of the solar project, PGCSREI intends to engage the services of NGCP for the operation, service and maintenance. “A provisional authority or interim relief is thus urgently needed to enable PGCSREI to achieve the target commercial operations date of the PAVI Green project by December 2024,” the company said in its application. The ERC has set a hearing for next month.

EDC taps USTDA grant for Leyte plant

nergy Development Corp. (EDC) will boost its geothermal power production at its Mahanagdong Geothermal Field in Leyte using the $1.37-million grant it obtained from United States Trade and Development Agency (USTDA). The Lopez-led firm has tapped the GreenLoop technology of GreenFire Energy Inc. for augmented steam production from an idle well and ini-

MUTUAL FUNDS

February 7, 2024

NAV

One Year Three Year

Five Year

Y-T-D

per share Return*

Return

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

tiate technology rollout into nearby sectors at EDC’s Leyte geothermal site and in other active EDC geothermal sites in the Philippines. GreenLoop was specifically designed for steam-dominated and two-phase reservoirs—liquid and steam—and has the potential to expand power production from idle, non-producing geothermal wells, thereby de-risking geothermal projects. GreenLoop has the capability to extract heat, rather than mass, from the geothermal resource which conserves water, maintains pressure in the geothermal resource, and ensures the long term sustainability of the resource. “We applaud USTDA’s support for the country’s continuing transition to renewable energy. The grant is a recognition of the need to adopt, pilot and deploy new and emerging technologies that have the potential to accelerate the rollout of more renewable power, and of geothermal energy in particular. We are excited about trialing GreenFire Energy’s GreenLoop technology and are already looking forward to deploying GreenLoop systems all across our fleet,” said Miko de Vera, EDC head of new business and technologies. EDC is producing nearly 10 percent of the country’s electrical energy and is the largest geothermal energy firm with 61 percent of the country’s geothermal capacity. Geothermal is a critical component of the Philippines’s ambitious plan to increase the share of renewable energy in the power generation mix to 35 percent by 2030 and 50 percent by 2040. The Philippines has the third largest geothermal installed capacity in the world with 1,935 megawatt (MW) in 2023 and is expected to see growth by 2031 with a projected installed capacity of 2,145 MW. The country is considered “outperforming” in the geothermal sector with one of the world’s highest installed capacity and is expected to have substantial growth. GreenFire Energy CEO Joseph Scherer said the partnership with EDC underscores its commitment to the Philippines and to sustainable geothermal energy while minimizing environmental impact. “GreenFire Energy is thrilled to be selected by EDC and to apply our patented GreenLoop technology that has the potential to reshape geothermal energy production. We thank USTDA for the opportunity to deploy US advanced technology in the Philippines.” GreenFire Energy is a corporate member of the National Geothermal Association of the Philippines. Lenie Lectura

0.9%

0.04%

-4.04%

0.07%

ATRAM Alpha Opportunity Fund, Inc. -a 1.4986

219.64

3.44%

4.81%

-1.04%

2.17%

1.75%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.0438

-0.3%

0.19%

-6.18%

-1.76%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7093 -0.28%

-2.7%

-5.89% n.a

First Metro Consumer Fund, Inc. -a

-2.5%

-5.87% n.a

4.57%

0.18%

-3.09%

3.79%

0.6542

-7.14%

First Metro Save and Learn Equity Fund, Inc. -a 4.8054-1.42%

4.22%

0.27%

First Metro Save and Learn Philippine Index Fund, Inc. -a 0.7215-2.2%

0.44% n.a n.a

MBG Equity Investment Fund, Inc. -a

82.91

3.07%

-7.73% n.a

PAMI Equity Index Fund, Inc. -a 44.8848

-1.46%

-0.27%

-3.25% n.a

4.6%

Philam Strategic Growth Fund, Inc. -a

466.17

0.58%

-0.42%

-3.29%

0.1%

4.2%

Philequity Dividend Yield Fund, Inc. -a

1.2254

0.42%

2.52%

-1.69% n.a

1.67%

Philequity Fund, Inc. -a

-0.32%

1.18%

-2.29%

1.89%

34.9007

-5.31%

0.85%

-3.02% n.a

4.7126

-0.63%

0.6%

-2.5%

1.78%

4.48%

Philippine Stock Index Fund Corp. -a

784.44

-0.69%

0.43%

-2.57%

1.78%

4.52%

Soldivo Strategic Growth Fund, Inc. -a 0.7064

-0.28%

0.47%

-5.11% n.a

3.02%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.5292

-0.54%

0.22%

-4.08%

0.25%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8898-0.91%

0.14%

-2.85% n.a

United Fund, Inc. -a

1.1%

-0.09%

-2.95%

4.19%

3.77%

Philequity MSCI Philippine Index Fund, Inc. -a 0.9017 0.56%

-1.06%

1.52%

-2.45%

Philequity PSE Index Fund, Inc. -a

3.2179

3.34%

4.01%

4.9% 4.56%

4.1%

Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.1021-0.88% n.a n.a n.a

4.41%

COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,2 1.0191 n.a n.a n.a n.a 1.43% Philequity Alpha One Fund, Inc. -a

1.0342

-7.61%

-0.7% n.a n.a

1.49%

Philippine Stock Index Fund Corp. -a

952.46

-0.73% n.a n.a n.a

4.54%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c106.6391-0.08% 0.86%

-2.25%

2.49%

4.61%

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

-15.88%

-16.27%

-4.89%

-1.47%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7076

$0.7749

12.24%

-0.56%

6.92% n.a

-5.73% 2.76%

Balanced Funds Primarily invested in Peso securities (shares) 4.51%

-0.13%

-0.76%

0.7%

ATRAM Unicapital Diversified Growth Fund, Inc. -a,41.5343

ATRAM Philippine Balanced Fund, Inc. -a 2.2322

4.5%

-2.32%

-2.45%

0.84% -1.12%

1.57%

First Metro Save and Learn Balanced Fund, Inc. -a 2.5544

-1.52%

-0.22%

-0.98%

-0.41%

2.31%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1956

-3.6%

0.26% n.a n.a

2.73% NCM Mutual Fund of the Phils., Inc. -a

1.9787

-1.54%

0.58%

0.6%

1.86%

PAMI Horizon Fund, Inc. -a

3.6343

1.79%

-0.71%

-0.14%

1.02%

2.21%

Philam Fund, Inc. -a

15.9253

1.86%

-1.39%

-0.79%

0.7%

2.33%

Solidaritas Fund, Inc. -a

2.0737

1.31%

0.33%

-0.9%

1.49%

2.25%

2.36%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4894

0.88%

-0.16%

-1.93%

0.5%

Sun Life Prosperity Dynamic Fund, Inc. -a 0.9248

2.08%

-1.08% n.a

2.27%

0.26%

2.39%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.94930.4%

-1.89% n.a n.a

0.96%

Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8742-1.13%

-1.78% n.a n.a

3.2%

Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8552-1.62% -1.87% n.a n.a

3.59%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03265

-1.51%

-5.67%

-1.75%

0.08%

PAMI Asia Balanced Fund, Inc. -b$0.8742 -10.85%

-10.49%

-2.09%

-0.85%

-4.47%

-1.69%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.3479

7.22%

-2.13%

4.08%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0383

2.28%

-4.07%

0.67% n.a

3.34%

1.3% -0.26%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 391.62

3.14%

1.78%

2.55%

2.33%

ATRAM Corporate Bond Fund, Inc. -a

1.9163

1.4%

0.21%

0.47%

0.12%

0.39%

Cocolife Fixed Income Fund, Inc. -a

3.335

2.25%

1.19%

2.23%

3.74%

0.29%

Ekklesia Mutual Fund, Inc. -a 2.284

2.74%

-0.2%

1.23%

1.55%

-0.09%

First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4534

1.37%

0.04%

1.87%

Philam Bond Fund, Inc. -a

1.9%

1.14%

0.34%

4.3124

2.89%

-2.41%

0.29%

1.22%

Philam Managed Income Fund, Inc. -a

1.3843

1.51%

3.15%

1.86%

0.81%

Philequity Peso Bond Fund, Inc. -a

4.0407

2.57%

0.45%

2.46%

1.78%

0.16%

Soldivo Bond Fund, Inc. -a

2.47%

0.39%

2.92% n.a

0.22%

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

3.3074

3.14%

1.05%

3.13%

2.36%

Sun Life Prosperity GS Fund, Inc. -a

2.44%

0.29%

2.27%

1.74%

-0.21%

1.052

1.7657

-0.16%

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

1.0151 n.a n.a n.a n.a

0.74%

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $496.62

2.58%

0.81%

1.97%

2.52%

ALFM Euro Bond Fund, Inc. -a Є214.28

1.43%

-0.78%

0.02%

0.79%

0.28% 0.14%

ATRAM Total Return Dollar Bond Fund, Inc. -b$1.0342-1.63% -6.67%

-1.98%

0.07%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0248 2.48%

-2.06%

-0.16% n.a

PAMI Global Bond Fund, Inc. -b$0.851

-2.08%

Philam Dollar Bond Fund, Inc. -a

$2.2873

-7.94%

-4.03%

-3.18%

-0.75%

-0.82%

1.79%

-3.28%

0.64%

1.81%

-1.4%

1.39%

-0.81%

1.31%

1.6%

0.39%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.748

-1.78%

-5.02%

-1.18%

0.39%

Philequity Dollar Income Fund, Inc. -a $0.0611526

-0.4%

-3.02%

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 137.29

2.47%

2.07%

First Metro Save and Learn Money Market Fund, Inc. -a 1.1124 3.33%

2.87%

1.84%

1.98%

2.13% n.a

Sun Life Prosperity Peso Starter Fund, Inc. -a 1.38022.88%

2.44%

2.06%

0.31% 0.36%

0.33%

Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 105.07

4.23% n.a n.a n.a

0.47%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.1022

2.78%

1.52%

1.59% n.a

0.43%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 43.3546-0.61% n.a n.a n.a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.5049

15.06%

0.56%

9.08% n.a n.a

2.43% Sun Life Prosperity World Income Fund, Inc. -a,1

1.0112 n.a n.a n.a n.a

1.15%

Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.7955-3.73%

-7.03% n.a n.a

-0.9%

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

2 - Launch date is October 6, 2023.

3 - Launch date is May 25, 2023.

4 - Renaming was approved by the SEC last May 21, 2020 (formerly, ATRAM Dynamic Allocation Fund, Inc.) “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.

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

www.news.businessmirror@gmail.com

Banking&Finance

DBM gives Tesda ₧3.41B for free tuition program

HE Department of Budget and Management (DBM) released P3.41 billion to the Department of Labor and Employment-Technical Education and Skills Development Authority (Dole-Tesda) to provide free tuition to tertiary students. In a statement on Tuesday, the DBM said Budget Secretary Amenah F. Pangandaman approved the fund under the Special Allotment Release Order (Saro) for the implementation of the Universal Access to Quality Tertiary Education (UAQTE) Act. The fund will cover tuition and miscellaneous fees, accident insurance, trainee provision, internet allowance, starter tool kits, national assessment fees, and other school charges, according to the DBM. More than 74,000 tertiar y students will benefit from the allocated fund for the school year 2024 under the UAQTE program, the DBM added. The Notice of Cash Allocation amounting to P1.77 billion for the first quarter of 2024 was also released. “Not everyone may be able to afford higher education. But I believe this should not be the case, most especially to those who are deserving—those who have the heart and passion to learn and

who wish to put their talent and intelligence for the greater good,” Pangandaman was quoted in the statement as saying. A Saro is issued to identified agencies to incur obligations not exceeding a given amount during a specified period for the purpose indicated. This shall cover expenditures the release of which is subject to compliance with specific laws or regulations, or is subject to separate approval or clearance by competent authority. The UAQTE law (Republic Act 10931) protects and promotes the rights of all students to quality education. It mandates the provision of universal access to quality tertiary education by providing free tuition and other school fees in state universities and colleges, local universities and colleges, and state-run technical-vocational institutions such as Dole-Tesda. The fund release was approved by Pangandaman on January 26, chargeable against Dole-Tesda’s regular budget under the fiscal year 2024 General Appropriations Act. “Education, more than a privilege, is a basic human right. It is our gateway for better career paths, higher salaries, and an overall improved quality of life,” Pangandaman added. Reine Juvierre Alberto

BusinessMirror

Editor: Dennis D. Estopace • Thursday, February 8, 2024

BOC seizes ₧7.1M smuggled cigarettes in Mindanao ports

By Reine Juvierre S. Alberto

HE Bureau of Customs (BOC) announced last Wednesday personnel at the Port of Davao intercepted a total of P7.1 million smuggled cigarettes in Sultan Kudarat and Lake Sebu in a joint operation with members of the Philippine National Police (PNP).

The BOC said personnel of the PoD, the Philippine Navy and the PNP’s 1205th Maneuver CompanyRegional Mobile Force Battalion 12 seized 14,000 reams of assorted smuggled cigarettes amounting to P7 million on January 6 in Sultan Kudarat. According to the BOC, these personnel also intercepted a motorized banca marked as “MB Al-Amanah,” estimated to be worth P700,000. On January 10, the BOC said its authorities also seized 215 reams of various smuggled cigarettes valued at P107,000 in Ned, Lake Sebu. Pre-

viously, 22,700 reams of smuggled cigarettes worth P17 million were confiscated in a prior operation in Sultan Kudarat on December 3 last year. The Customs bureau added that a motorized banca marked as “M/B Queen Johara” with an estimated value of P500,000 was also confiscated in the prior operation. However, the BOC did not provide the names of the individuals involved or where the smuggled cigarettes came from. The BOC added that the individuals involved in the operations have gone through inquest proceedings.

This photo courtesy of the shows boxes of allegedly smuggled products seized by personnel of the Bureau of Customs Port of Davao on January 6 in Sultan Kudarat and Lake Sebu. CREDIT: Bureau of Customs

The agency could file a smuggling case against the individuals for violating Section 1401 (Unlawful Importation or Exportation) of the Republic Act (RA) 10863 or the Customs Modernization and Tariff Act for smuggling cigarettes. The seized items, meanwhile, are “securely stored pending seizure and forfeiture proceedings,” the BOC said. Commissioner Bienvenido Y. Rubio was quoted in the statement as saying that the “demonstrated efficacy of these operations is a testament to the vigilance and professionalism of our agency as we strive to create safer

and more secure maritime borders.” Earlier, Rubio said the BOC will “strengthen border control by engaging and collaborating with other law enforcement agencies for seamless coordination and information sharing against the entry of illicit goods, contraband, drugs, and high-value commodities that pose a significant threat against the agency’s revenue collection performance.” The BOC has collected P883 billion in revenues in 2023, higher by P9.49 billion from its target. Last year, the Bureau seized P43.295 billion worth of illegally imported and illicit goods.

Resilient Finances in Turbulent Times: How GSIS non-life insurance premiums reach ₧9.8 billion Filipinos Adapt amid Economic Uncertainty

HE Government Service Insurance System (GSIS) announced last Wednesday of P9.8 billion in gross premiums written (GPW) for its non-life insurance business last year. This figure represents the highest GPW ever recorded in the history of GSIS, the state pension fund said through a statement. “The GPW for 2023 has seen a remarkable increase of 44 percent compared to the previous year’s P6.8 billion,” the GSIS said. “With a net worth of P50.15 billion in 2023, GSIS now stands as the largest non-life insurer in the country.” “With more government agencies insuring their properties with the GSIS, we are helping the country strengthen our national resilience. In the face of more frequent natural disasters, securing insurance coverage becomes crucial in safeguarding assets and mitigating budgetary strains during calamities,” GSIS President and General Manager Jose Arnulfo A. Veloso was quoted in the statement as saying. Under Republic Act 656 (Property Insurance Law), the GSIS is mandated to cover all assets and properties that have government insurable interests. It provides insurance coverage such as fire, engineering, marine hull, marine cargo, aviation, contractor’s all risks, bonds, motor car, personal accident, and comprehensive general liability insurance. The GSIS will soon launch a property inventory mobile application to simplify property registration for government officers, and introduce a city parametric insurance product on the first half of the year, read the state pension fund manager’s statement. Online and face-to-face insurance marketing caravans nationwide were

also intensified as the GSIS continued to conduct regular training and capacitybuilding workshops for agency property officers from various government agencies, it added.

Emergency loan

MEANWHILE, Veloso also announced this week that the GSIS has made available a P44-million emergency loan program to its members and pensioners in the municipalities of Mercedes and Vinzons in Camarines Norte who were affected by heavy rainfall. “Active GSIS members living or working in the calamity-hit areas are eligible for the loan,” read a separate statement issued by the GSIS. “They must have paid their premiums within the last six months prior to application and not be on leave of absence without pay. They should have no pending administrative or criminal case and a have a resulting net take-home pay of at least P5,000 after all the required monthly obligations have been deducted.” Old-age and disability pensioners residing in the calamity areas may also avail of the loan as long as their resulting net monthly pension after loan availment is at least 25 percent of their basic monthly pension and they have no outstanding loan being deducted from their monthly pension except pension loan. Members with current emergency loans may borrow up to P40,000 to settle previous loan balances, ensuring a maximum net amount of P20,000. Those without any outstanding emergency loan, including pensioners, may apply for a P20,000 loan. The loan has a 6 percent interest rate and a 3-year payment term. The deadline for application is on February 29.

CCORDING to the Asian Development Bank, the Philippine economy is expected to pick up in 2024. The forecast for the 2024 gross domestic product (GDP) is maintained at 6.2 percent with household consumption and public spending on infrastructure and social services contributing to the country’s economic expansion. Regarding inflation, the report forecasted some relief in the new year at an average of 4.0 percent. The country’s inflation in November reported by the Philippine Statistics Authority was 4.1 percent, down slightly from 4.9 percent in October. However, various external forces such as the possible El Niño dry spell and pressures from elevated global commodity prices could slow the pace of how inflation eases in the coming year.

Filipinos are getting ahead of financial uncertainties

DESPITE a relatively positive economic outlook for 2024, Filipinos are already taking steps to build their economic resilience. In the latest Consumer Pulse Study (CPS) by Transunion Information Solutions Inc. (TransUnion PHL), most Filipinos (80 percent) are expecting their income to increase in the next 12 months. However, despite the prospects of improvements in their personal finances, over half (51 percent) are putting money into their emergency funds, while over a third (34 percent) are ac-

essential services such as banks and groceries can stay in business and keep their workers employed.

A declining perception of credit Pia L. Arellano celerating their debt repayments. I find this contrast between expectation and reality to be very interesting. Coming off a boom in revenge spending with the ease of pandemic-related restrictions on everyday activities, economics forecasted that Filipinos would eventually return to saving. Additional data from the CPS Q4 study seems to support their forecast. Aligned with saving, Filipinos are looking to cut on forms of non-essential spending such as cars and appliances (44 percent) and even digital services (21 percent).

The impact of saving

WITH Filipinos choosing to save more, I see this proactive approach to be an encouraging sign that our countrymen are looking to take better control of their finances. By building up higher savings reserves, people have a better cushion to help absorb rising expenses. In a larger scale, an individual’s ability to cope with financial hardships can help the country power through times of uncertainty. After all, when bills are being paid,

THIS preference for saving could be a possible factor for why fewer Filipinos see the importance of credit in achieving their financial goals. Additional CPS data also revealed that 59 percent of Filipinos who considered applying for credit or refinancing existing credit ultimately decided against it. Asked on the reasons that lead to their decision, most cited the high cost of borrowing money (39 percent), others found alternative funding sources (32 percent), while some mentioned their income or employment status (29 percent). These findings show existing challenges prevent more Filipinos from enjoying the benefits of greater financial inclusion. For institutions within the formal financial sector, here lies an opportunity to help Filipinos build greater financial resilience by educating them on credit and expanding access to the products they need.

The path to financial resilience

FINANCIAL resilience is the ability to withstand planned or unplanned life events that significantly impact one’s income or assets. Certainly, saving money is one important way for people

to become financially resilient. However, the path to financial resilience isn’t a singular one. Prudent financial management encompasses several key aspects to ensure the stability, growth, and protection of one’s financial resources. These methods include both savings and responsible credit management. In cases where an emergency fund may not be enough to withstand an unexpected expense, having good credit can help support people through any tough times that come their way. To that end, it is crucial for the formal financial sector to emphasize the importance of financial inclusion. Consumer credit education must continue to do away with the perception that credit access only enables non-essential spending. Instead, credit access is an important tool to help boost one’s financial resilience. In whatever shape the country’s economy takes in 2024, with good savings and good credit working together, more Filipinos will be in better shape to handle whatever comes their way. Pia Arellano is the president and CEO of Transunion Information Solutions Inc. (TransUnion PHL). She has over 28 years of industry experience across banking, payment solutions, telecommunications, and remittance services. The views and opinions expressed herein are those of the author and do not necessarily represent the BusinessMirror. Email questions to tuphcomms@transunion.com.

SECB’s ‘Green’ credit card targets socially-aware, financially-conscious Gen Zs By Roderick Abad @rodrik_28 Contributor

ECURITY Bank Corp. (PSE: SECB) has introduced a new credit card that the lender said offers not only great value for today’s generation of cardholders but also care for the environment. “We’re always looking for innovative ways to deliver on our ‘better banking’ promise, providing the best banking and customer service experiences,” SECB President and CEO Sanjiv Vohra said during a product launch held at BGC, Taguig City, last Monday. Vohra

led the launch of the “Wave Mastercard,” which he said is “a credit card designed to meet the needs and preferences of today’s savvy, budget-conscious and environmentally-conscious customers.” While this credit card appeals to all demographics, MasterCard Inc. Philippines Country Manager Simon Javier Calasanz said the “Wave” is mainly targeted to the Gen Z who, he described, are “socially-conscious and financiallyconscious.” Calasanz cited a Mastercard study that shows a third of Gen Zs polled already owns a credit

card. Another study reveals that 50 percent of them are either looking to refinance their existing credit cards or looking for a new product. Specifically, about 30 percent are looking for new, innovative financial products like credit cards. Calasanz said that 86 percent of Gen Zs polled said they want a cashback product, 84 percent want bonus points that do not expire, and 83 percent like to be in a market with bonus points in the spend categories that they wish to purchase. “These sentiments resonate in

the ‘Wave Mastercard’ propositions, wherein customers can enjoy a waived annual fee for life; an interest rate of only 2.5 percent (one of the lowest among credit cards in the country); and, a 1-percent cashback on all online purchases including shopping, dining, travel, among others,” Calasanz said. “So this is aligned with the values that Gen Zs hold dear to their hearts, and it’s also in line with BSP’s [Bangko Sentral ng Pilipinas] 11-point sustainable banking initiative,” he added. Security Bank Executive Vice President and Retail Banking Seg-

ment Head Rahul Rasal said the lender considers the “Wave Mastercard” as “far more than just a no-annual-fee credit card.” Filipinos’ revenge spending post-pandemic has bolstered the country’s economy as shown in the report of the Credit Card Association of the Philippines indicating that its 12-member issuers had issued 11.8 million credit cards nationwide as of end-March 2023. Amid this development, however, SECB Sustainability Head Nicole B. Lizares cautioned its risk to the environment since each credit

card has a lifespan of three years, made out of five grams of new virgin plastic that is equivalent to about 59 metric tons or around 1.5 million plastic bottles. “As one of the largest retail banks in the Philippines, we are mindful of our plastic footprint as well, especially as regards to our credit cards. So this move to the ‘Wave Mastercard,’ which is a 100-percent recycled PVC, isn’t just a way for the bank to avoid pollution. But we also hope that it’s a campaign that can encourage our customers to start making more sustainable choices,” Lizares said.

Health&Fitness BusinessMirror

Thursday, February 8, 2024

Editor: Anne Ruth Dela Cruz

Public-private collab needed to make affordable meds accessible to Filipinos

By Roderick L. Abad | Contributor

UBLIC and private organizations are encouraged to work handin-hand to bring medicines and healthcare services closer to Filipinos, especially the underprivileged population. “Healthcare in the Philippines should not be synonymous to the following terms: expensive, difficult to access, only for the rich. Filipinos should not die because they can’t afford to buy medicines,” Department of Health (DOH) Secretary Dr. Teodoro J. Herbosa said in a televised message during the Access to Medicines Summit 2024 held at the Diamond Hotel Manila on February 6 and 7. The DOH chief’s statement was in reference to the increasing burden of shouldering exorbitant prices of medicines in the country on families. In fact, according to him, around 52 to 59 percent of the current health disbursement is attributed to household out-of-pocket expenditure, and 50.1 percent of the out-of-pocket expenditures were spent on pharmacies. Private hospital and community pharmacies are more than eight and four times higher respectively than international reference prices. The Philippine wholesale price for some medicines are up to two to nine times more than the member-countries of

the Association of Southeast Asian Nations (Asean) and Organization for Economic Cooperation and Development (OECD).

Comparative requirements

“DESPITE having comparative volume requirements for medicines, wholesale prices remain high in the Philippines. Retail prices of some branded generics already approximate the provinces of innovator brands. The realities on the ground are too difficult to ignore. While our health institutions have been discussing Universal Healthcare in opulent venues with overflowing food, Filipinos are finding it tough to access health services and medicines. Year by year, [it’s apparent] with the unavailability of services and medicines in their nearest health stations and centers, unavailable medications in government health centers and hospitals, and the absence of free medications and diagnosis,” he said. For Takeda Pharmaceutical Company Limited Head of India and Southeast Asia Growth and Emerg-

ing Markets Dion Warren, “ensuring equitable access to medicines is not just a matter of healthcare, but a fundamental human right.” Because the availability and affordability of medicines are a matter of life and death for countless individuals, accessing it becomes even more critical. Access to medicine means having access to healthcare facilities, trained professionals, diagnostic tools, supportive services, and the like. “It ensures that individuals can receive safe and effective care with necessary resources and the required expertise. Addressing challenges related to accessing medicine also goes beyond financial considerations. And while affordability is crucial, raising awareness and providing educational are equally important,” he noted.

Drug access is everybody’s business

UNDERSTANDING that the challenge of improving access to medicine is not an overnight endeavor, Takeda Healthcare Philippines Inc. and RiseAboveNow Business Consulting Group continued to explore their collaboration in this year’s conclave, themed "Building Bridges. A Blueprint for Collaborative and Innovative Access to Medicines,” that focused on four key objectives. First, it highlighted successful efforts of organizations in improving access to medicines, serving as examples for others to learn from. Second, it fostered collaboration opportunities, promoting collective impact in enhancing access to medi-

cines. Third, it initiated the development of a roadmap for stronger access to medicines through collaborative health innovations. Lastly, it advocated for policy changes and reforms to promote unbiased access to medicines across the region. The Access to Medicine Summit 2024 witnessed the participation of over 100 key stakeholders from the Philippines’ DOH, local government units (LGUs), academia, healthcare industry, patient support groups, financial institutions, and medical societies. It also featured 32 influential speakers from different sectors and nations such as Malaysia and Vietnam, who shared their expertise and commitment to shaping thoughts and driving change across Southeast Asia. “This summit marks a significant milestone in our collective journey towards improving access to essential medicines and health technologies. By bringing together diverse stakeholders from both the public and private sectors, we have created a valuable platform for sharing aspirations, showcasing progress, and identifying opportunities for collaboration. This convergence of times and efforts is crucial in addressing the challenges we face in ensuring equitable access to medicines for all Filipinos,” said Senator Christopher Lawrence “Bong” Go.

Further health investments

AS the chairperson of the Senate Committee on Health and Demography, he underscored the importance of investing further in the healthcare system, following the Covid-19 pan-

Global experts convene to tackle online risks to children and explore effective solutions By Candy P. Dalizon Contributor

rom physical distance forced by the pandemic to digital immersion, children navigate a world reshaped by technology, making online life their constant companion. Equipping children with the knowledge and tools to make informed choices about their digital activities and to recognize and report harmful content is critical for their safety and well-being. Leaders from global child-focused organizations ChildFund Alliance and ECPAT International said “adults, parents, and caregivers need to foster open communication, learn to keep up with their more tech-savvy children, and understand that children are not responsible for protecting themselves from people who seek to harm them online.” Experts on child online safety from around the world and members of ChildFund’s WEB Safe & Wise Children’s Advisory Council gathered February 6, 2024, Tuesday during the Safer Internet Day event held in Pasig City to discuss the most pressing dangers to children online as well as solutions that can be adopted to ensure every child can engage and connect safely online. ChildFund Alliance is a global network of 11 child -focused development and humanitarian organizations reaching nearly 36 million children and their family members in 70 countries. WEB Safe & Wise is its new initiative that focuses on addressing the risks emerging in the digital environment, while empowering children and young people to become effective digital citizens. Undersecretary Angelo Tapales

from the Council for the Welfare of Children (CWC) and Margarita Magsaysay, OIC Executive Director of Inter-Agency Council Against Child Pornography (IACACP) to National Coordinating Center Against OSAEC and CSAEM, were among the speakers which also included Dr. Najat Maalla M’jid, the special representative of the Secretary-General of the United Nations on Violence against Children; Julie Inman Grant, Australia’s eSafety Commissioner; Dr. Mikiko Otani, Immediate Past Chair of the United Nations Committee on the Rights of the Child, and officials from International Justice Mission (IJM), UNICEF East Asia and Pacific Office, ECPAT (End Child Prostitution and Trafficking) Philippines, ChildFund, and members of the tech industry including CleanDNS. “As the digital landscape continues to rapidly evolve, new opportunities for children and young people increase, but so do the threats they face online,” said Ryan DeSouza, Senior Advisor, Advocacy and Policy, and also head of the ChildFund’s WEB Safe & Wise initiative. “It’s imperative, therefore, that we work together—and with the children—to create a better digital world. ChildFund Alliance launched WEB Safe & Wise as a frontline defense against some of the most urgent risks to children online, including sexual exploitation and abuse of children,” added DeSouza.

Agents of change

THE speakers all agreed that young people are powerful agents of change who must be involved in all stages of the process—from identifying the problem all the way through to implementing solutions to further

protect children online. “Our goal, by working closely with children and young people, is to identify solutions they believe can benefit them, and also keep them safer, when they engage online,” said ChildFund Alliance Secretary General Meg Gardinier. The Children’s Advisory Council includes youth members from across the globe. Members of the Children’s Advisory Council who participated in the Safer Internet Day Event included young people from Ethiopia, India, Mexico, Mozambique, Paraguay, Uganda, Vietnam, and Philippines. Council member Azumi, who is from the Philippines, said she believes it is urgent that “all young people be given a voice in the fight for a safer online world.” Tihitina from Ethiopia shared that she is “eager to work on creating a web safe environment for children and young people and to contribute to driving change.” Moises from Mexico said he is seeking “ways to solve the challenges that girls, boys, and young people face in the online environment.” During the panel discussion, the youth representatives were asked “If you were a stakeholder, what actions would you take to keep children safe online?” Vidi from Indonesia underscored the two-pronged approach essential for online child safety: equipping parents with knowledge and raising broader awareness about the dangers children face. Vidi said one way to achieve this is by partnering with the government to develop educational materials easily understandable by children. As a member of the Children’s Advisory Council, Vidi and the other participants said they conduct activi-

ties, forums, and social media campaigns to educate children on how to stay safe online.

Calls for stronger enforcement of RA 11930

IN the Philippines, the problem is so prevalent that UNICEF and IJM identified the country as the center of child sex abuse materials production. In the recent Scale of Harm report by the IJM, researchers found nearly half a million Filipino children in 2022 were trafficked online via live streaming, often by relatives or people they know, in order to produce child sexual exploitation material. Reynaldo Bicol, Jr., Director of IJM Manila Program Office, cited the factors that contributed to the proliferation of the crime which include language proficiency (almost everyone speaks English) making communication with international perpetrators easier, persistent use of social media platforms, and the accessibility of money remittance centers (facilitating quick financial gain). The country should also be vigilant about this disturbing trend— new forms of abuse, such as AIgenerated imagery and financial sextortion—which are experiencing a significant increase, with dreadful consequences. For its part, the Council for the Welfare of Children promises to work closely with other government agencies to address online child sexual abuse and exploitation. Tapales said his department is working with the Department of Justice (DOJ) and the Department of Social Welfare and Development (DSWD), as well as with the private sector to curb the violence and sexual abuse against children.

demic that caught the entire world by surprise, particularly those underdeveloped countries that were medically and economically unprepared to face such health crisis. “I continue to champion access to medicines for noncommunicable diseases,” Go said of the various initiatives he has taken to bring affordable yet quality healthcare services to Filipinos. One of which is his consistent push for additional budget for the National Integrated Cancer Control Program, particularly for the Procurement of Additional Drugs for Cancer and Expansion of Cancer Medicines Access Program, which was appropriated with additional P500 million in 2021 and 2023. For this year, the Committee approved P1.25 billion for the Cancer Assistance Fund, which can also facilitate access to needed medicines of cancer patients. Also, it constantly supported the additional budget for mental health medicines, which was reflected in the 2023 national budget that can still be used for this year. A known close aide to former President Rodrigo Duterte, he lauded his previous issuance of Executive Order (EO) No. 104, which imposes maximum drug retail prices on certain drugs and medicines in accordance to the Cheaper Medicines Act. The drugs covered by the EO include those which address chronic disorders, such as cardiovascular disease, diabetes, hypertension, cancer and chronic pulmonary disease, among others. “I am urging the Department of Health and other concerned agencies

to implement this effectively and ensure the availability, accessibility and affordability of medicines needed by Filipinos, especially our poor compatriots,” appealed Senator Go.

Life-transforming treatments

ACKNOWLEDGING such a call for a collective public-private partnership, Takeda has already been supportive of the country in so far as making its life-transforming treatments more accessible to the local market. In an effort to bridge the affordability gap for patients affected with Hodgkin's lymphoma, it launched the Patient Assistance Program in the Philippines in 2017 and expanded it other countries, including Indonesia, India, Thailand, Malaysia, and Vietnam. “In the Philippines, the financial burden of out-of-pocket payment for outpatient diagnostic procedures creates a significant barrier for patients. In recognizing this challenge, we collaborated with the Philippine Cancer Society to provide critical support and financial assistance for patients who require the CD30 testing. This is a specific biomarker to diagnose this disease,” Warren said. “Through this collaboration, we are breaking down the financial barriers that hinder access to essential diagnostic procedures. Together, we are making a tangible difference in the lives of patients ensuring they receive testing and the care they ultimately need. This is just a small example of the many efforts at Takeda's undertaking,” he stressed.

Have symptoms of prostate cancer? Don’t self-medicate, consult with doctor By Claudeth Mocon-Ciriaco

rostate cancer is a type of cancer affecting the prostate, a small walnut-shaped gland in males that produces seminal fluid that nourishes and transports sperm. Like other types of cancer, it starts from one abnormal cell, and is thought to be caused by something that damages or changes certain genes in the cell. It is currently the third most common type of cancer among Filipino men, usually affecting older men, 65 and above , the Department of Health (DOH) said. However, the DOH said, the exact cause of prostate cancer remains unclear, but it likely involves various factors which increase its risk, including: n Increasing age n Family history of prostate cancer n Obesity n Cigarette smoking n Dietary factors (including high calcium intake, heavy alcoholic drinking, processed food intake) n History of sexually transmitted infections such as HPV and gonorrhea Based on the Philippine Global Cancer Observatory (GLOBOCAN) 2020, the number of new cancer cases in 2020 for both sexes and all ages is a total of 153,751 cases of which 8,242 (or 5.4 percent) were prostate cancer. Of these total number of cases, males of all ages who were diagnosed with cancer reached 67,257, of which 8,242 or 12.3 percent were prostate cancer. For incidence, mortality, and prevalence by cancer site, prostate cancer is 5th in the rank of new cases. It is 9th in rank in the number of deaths with an equivalent of 3,164, or 3.4 percent.

Signs and symptoms

DIFFERENT people have different symptoms for prostate cancer. Some men do not have symptoms at all.

Some symptoms of prostate cancer are: n Difficulty starting urination n Weak or interrupted flow of urine n Frequent urination, especially at night n Difficulty emptying the bladder completely n Pain or burning sensation during urination n Blood in the urine or semen n Pain in the back, hips, or pelvis that doesn’t go away n Painful ejaculation If the cancer spreads to other parts of the body, other symptoms can develop. The most common site for the cancer to spread is to one or more bones, especially the pelvis, lower spine and hips, which can become painful and tender.

Prevention and control

AVOIDING risk factors and increasing protective factors may help prevent prostate cancer. Risk factors include cigarette smoking, heavy alcohol intake, and obesity; thus, individuals may lower their risk by stopping/avoiding cigarette smoking, limiting alcoholic intake, and exercising regularly. Other risk factors which may increase the risk of prostate cancer include vitamin E intake, folic acid supplementation, a diet high in dairy products and calcium. “However, an individual must ask a doctor first to assess whether avoiding these nutrients are necessary. Protective factors, on the other hand, include folate [found in green vegetables, beans, and orange juice] and the use of medications which lower the level of male sex hormones in the body. However, self-medicating with these drugs is discouraged, and one must visit a doctor to determine whether the use of such drugs is warranted,” the DOH said.

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Parentlife BusinessMirror

Editor: Gerard S. Ramos • Thursday, February 8, 2024

What are your family wellness goals?

S parents, we all try our best to keep our family healthy. However, this task can be overwhelming. For me, I struggle with providing ample nutrition for my children especially in their teen years. It is great to discover from www.heart.org “that making a few small lifestyle changes can lead to heart-healthy habits that require little thought or effort.” Below are ways the article shared on ways to keep the family healthy, especially heart healthy: 1. IDENTIFY FREE TIMES FOR ACTIVITY. Keep track of each family member’s daily activities for one week. You’ll get a snapshot of when you might be able to get the family together for physical activity. It can also help you see which activities you can cut back on. Pick two 30-minute and two 60-minute time slots for family activity time. Weekdays are usually better for 30-minute activities and weekends are better for 60-minute activities. Try to spread out the time slots. I have discovered that setting this routine of family game nights from toddler to 10 years old, during weekends, has made each family member know each other better, as well as let each one get out of one’s shell even for just one night. When it is karaoke night, we all have to choose a song from Spotify and sing. It was during game nights that I discovered that my 3-year-old Marcus, who I thought was shy and quiet, was actually quite competitive when he suddenly burst out when he lost a Picture Bingo game. For week nights, family art or SEL (socio-emotional learning) time is perfect for 30 minutes. Each family member can use a tool like the Learning Resources Pineapple Feelings to change the face parts of the toy and share how their day was.

2. PLAN A WEEKLY MENU AND PREP YOUR MEALS. Keep track of how many times you grab food on the go for one week. Once you find blocks of time when you can do a little planning, it’ll be easier to learn healthy preparation methods and fix healthy snacks while also using shelf-stable foods. 3. SIMPLIFY YOUR FAMILY’S SCHEDULE. In today’s society, we’re expected to do it all. But this type of nonstop lifestyle isn’t sustainable or healthy. Try prioritizing your activities and see what you can do without so you’ll have more time for the things that matter. You can also work on ways to manage stress. 4. TAKE BABY STEPS, NOT GIANT LEAPS. If you’re the head of your household, making sure that all the heads and hearts in your home are healthy is a lot to handle. The key is to take baby steps. Getting healthy is a journey; you don’t have to do everything at once. 5. ASK EVERYONE IN THE FAMILY TO DO THEIR PART. Depending on their ages, kids can help

prepare healthy meals and help around the house. Treat your family like a team and encourage everyone to work together. I started to involve my children on family tasks since toddlers. Pretend-play activities especially in using their kid-sized cleaning materials or preparing food with their wooden toys I believe has contributed a lot to them being able to gradually self-manage themselves both in and outside of school. This reduces our stress as parents. And allows our children to build confidence that they can do things for themselves. 6. LIVE BY EXAMPLE. We all need to do our best to walk the walk. If we want our kids to eat healthy and exercise, we’ve got to model that behavior. You’re not perfect, but if you’re determined and persistent, there’s not much that can stop you. It is good that my husband has been a great role model on this because he shows the kids to make time to swim and run during weekdays and bike during weekends.

Last January, Herbalife Philippines started the year with an educational talk by Dr. Luigi Gratton, vice president of training at Herbalife. The session highlighted Herbalife’s Global Nutrition Philosophy, championing a holistic approach to well-being through balanced nutrition, regular exercise, and community support to keep up with the healthy habits. Dr. Gratton shared the latest findings in nutrition science and ways the power of community can be leveraged to meet health and wellness goals for the new year. Touching on the significance of protein-rich, low-calorie diets as pivotal tools for ensuring overall health, Dr. Gratton said, “The main thing we have seen in the latest literature is that restricting calories leads to losing weight along with a tremendous amount of muscle. However, increasing your protein intake will prevent muscle loss. Maintaining that muscle allows you to be healthier as you age.” More information can be found at https:// www.herbalife.com/en-ph.

Keeping children safe on social media: What parents should know to protect their kids By Barbara Ortutay

about what they do on their phone, and see what your child is willing to share. Kids are also likely to respond to parents and educators “pulling back the curtains” on social media and the sometimes insidious tools companies use to keep people online and engaged, Elgersma said. Watch a documentary like The Social Dilemma that explores algorithms, dark patterns and dopamine feedback cycles of social media. Or read up with them how Facebook and TikTok make money.

The Associated Press

SOCIAL media CEOs got grilled by Senate lawmakers this week in an emotional and often heated hearing about the dangers their platforms pose to children—sexual predators, videos encouraging suicide and glorifying eating disorders, bullying and addictive features, just to name a few. Republican and Democratic senators came together in a rare show of agreement throughout the hearing. Even with apparent bipartisan unity, making laws and regulating companies takes time. What are parents—and teens—supposed to do in the meantime? Here are some tips on staying safe, communicating and setting limits on social media— for kids as well as their parents.

SETTING LIMITS

IS 13 THE MAGIC AGE FOR SOCIAL MEDIA?

There’s already, technically, a rule that prohibits kids under 13 from using platforms that advertise to them without parental consent: The Children’s Online Privacy Protection Act that went into effect in 2000—before today’s teenagers were even born. The goal was to protect kids’ online privacy by requiring websites and online services to disclose clear privacy policies and get parents’ consent before gathering personal information on their kids, among other things. To comply, social media companies have generally banned kids under 13 from signing up for their services, although it’s been widely documented that kids sign up anyway, either with or without their parents’ permission. But times have changed, and online privacy is no longer the only concern when it comes to kids being online. There’s bullying, harassment, the risk of developing eating disorders, suicidal thoughts or worse. For years, there has been a push among parents, educators and tech experts to wait to give children phones—and access to social media—until they are older, such as the “Wait Until 8th” pledge that has parents sign a pledge not to give their kids a smartphone until the 8th grade, or about age 13 or 14. Some wait even later, like 16 or 17. But neither social media companies nor the government have done anything concrete to increase the age limit.

IF THE LAW WON’T BAN KIDS, SHOULD PARENTS? “There is not necessarily a magical age,” said Christine Elgersma, a social media expert at the

PHOTO BY PATRICIA PRUDENTE ON UNSPLASH

nonprofit Common Sense Media. But, she added, “13 is probably not the best age for kids to get on social media.” The laws currently being proposed include blanket bans on the under-13 set when it comes to social media. The problem? There’s no easy way to verify a person’s age when they sign up for apps and online services. And the apps popular with teens today were created for adults first. Companies have added some safeguards over the years, Elgersma noted, but these are piecemeal changes, not fundamental rethinks of the services. Some tech executives, celebrities such as Jennifer Garner and parents from all walks of life have resorted to banning their kids from social media altogether. While the decision is a personal one that depends on each child and parent, some experts say this could lead to isolating kids, who could be left out of activities and discussions with friends that take place on social media or chat services. Another hurdle—kids who have never been on social media may find themselves ill-equipped to navigate the platforms when they are suddenly allowed free rein the day they turn 18.

TALK, TALK, TALK

Start early, earlier than you think. Elgersma suggests that parents go through their own social media feeds with their children before they are old enough to be online and have open discussions on what they see. How would your child handle a situation where a friend of a friend asks them to send a photo? Or if they see an article that makes them so angry they just want to share it right away? For older kids, approach them with curiosity and interest. “If teens are giving you the grunts or the single word answers, sometimes asking about what their friends are doing or just not asking direct questions like, ‘What are you doing on Instagram?’ but rather, ‘Hey, I heard this influencer is really popular,’” she suggested. “And even if your kid rolled their eyes, it could be a window.” Don’t say things like “Turn that thing off!” when your kid has been scrolling for a long time, says Jean Rogers, the director of the nonprofit Fairplay’s Screen Time Action Network. “That’s not respectful,” Rogers said. “It doesn’t respect that they have a whole life and a whole world in that device.” Instead, Rogers suggests asking them questions

Rogers says most parents have success with taking their kids’ phones overnight to limit their scrolling. Occasionally kids might try to sneak the phone back, but it’s a strategy that tends to work because kids need a break from the screen. “They need to an excuse with their peers to not be on their phone at night,” Rogers said. “They can blame their parents.” Parents may need their own limits on phone use. Rogers said it’s helpful to explain what you are doing when you do have a phone in hand around your child so they understand you are not aimlessly scrolling through sites like Instagram. Tell your child that you’re checking work email, looking up a recipe for dinner, or paying a bill so they understand you’re not on there just for fun. Then tell them when you plan to put the phone down.

WHAT ABOUT PARENTAL CONTROLS?

Social media platforms that cater to children have added an ever-growing array of parental controls as they face increasing scrutiny over child safety. For instance, Meta unveiled parental supervision tools last year that lets parents set time limits, see who their kid follows or is followed by, and allows them to track how much time the minor spends on Instagram. It does not let parents see message content. But as with similar tools on other platforms such as TikTok, the feature is optional, and both kids and parents have to agree to use it. In order to nudge kids toward agreeing to set up the controls, Instagram sends a notice to teens after they block someone, encouraging them to let their parents “supervise” their account. The idea is to grab kids’ attention when they might be more open to parental guidance. By making the feature optional, Meta says it is trying to “balance teen safety and autonomy” as well as prompt conversations between parents and their children.

SOME family activities that promote active fun, engagement and early responsibility: pretend spa salon; preparation of ingredients while baking or cooking; sports and active play.

Thursday, February 8, 2024

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MVP GROUP OF COMPANIES DOMINATES IABC’S 20TH PHILIPPINE QUILL AWARDS

T was a triumphant night for the MVP Group of Companies, encompassing leading entities such as Light Rail Manila Corporation (LRMC), Manila Electric Company (MERALCO), Maynilad Water Services, Inc., PLDT, Smart Communications, Inc., Makati Medical Center, Maya, Metro Pacific Dumaguete Water Services, Inc., Metro Pacific Tollways South Management Corporation, Metro Pacific Investments Corporation, Meralco-One Meralco Foundation, and Metro Pacific Investments Foundation, as its member companies secured a staggering total of 87 awards at the 20th Philippine Quill Awards, organized by the International Association of Business Communicators (IABC). The Philippine Quill Awards, considered the nation’s most esteemed awards

program in business communication, bestowed accolades upon the MVP Group for its outstanding communication strategies. The companies received recognition across 20 diverse communication categories, highlighting their proficiency across four divisions—Communication Management, Communication Research, Communication Training and Education, and Communication Skills. The MVP Group secured a notable collection of awards, earning a total of 35 Awards of Excellence and 49 Awards of Merit. Furthermore, it’s worth noting that the MVP Group won 3 Top Awards. LRMC was conferred the Top Award for “Communication Management” under Corporate Social Responsibility Category for their program with Binhi in building a

foundation for learning and literacy for its scholars at Marcela Marcelo Elementary School in Pasay City. While the “Company of the Year,” category also saw impressive achievements from the MVP Group. Meralco attained the 1st Runner-up position, while the top company honors went to PLDT Smart. The MVP Group prioritizes communicating stories related to Corporate News, Corporate Social Responsibility, Diversity and Inclusion, Environmental Stewardship, Sustainability Practices, and Community Engagement. With 13 companies under its umbrella, they have demonstrated their effectiveness in communication strategies, meeting the highest global standards set by IABC. Acknowledging the entire MVP Group’s impactful communication strategies to stakeholders, the awards are a representation of the company’s caliber in various areas. Manuel V. Pangilinan, Chairman of the Group, stated, “There is power in clear and transparent communication, and these recognitions inspire us to continue communicating with transparency and impact—ultimately driving positive change and progress in the communities we serve.” The MVP Group’s recognition in the 20th Quill Awards represents the group’s efforts to contribute to the United Nations Sustainable Development Goals (SDG), particularly SDG 8 Decent Work and Economic Growth, 11 Sustainable Cities and Communities, and 17 Partnerships for the Goals.

One Meralco Foundation plants 125,000 Mangroves in Siargao on World Wetlands Day

DEL Carmen Mayor Alfredo Corro II, KAMAMANA President Danilo Lauras and Meralco Chief Sustianability Officer and OMF President Jeffrey Tarayao join hands in protecting the Del Carmen Mangrove Reserve in time for World Wetlands Day on February 2, 2024.

NE Meralco Foundation (OMF), the social development arm of the Manila Electric Company (Meralco), celebrated this year’s World Wetlands Day on February 2, 2024 by planting and nurturing 125,000 native mangroves in Del Carmen in Siargao Islands, Surigao Del Norte. This significant initiative under OMF’s environmental program One For Trees (OFT), in partnership with the local government of Del Carmen and people’s organization Kaanib ng mga Mangingisda at Magsasaka ng Numancia (KAMAMANA), aims to uphold the importance of wetlands located in the western part of the teardropshaped island. The groups joined hands for this initiative in observance of the World Wetlands Day with the theme, “Wetlands and Human Wellbeing.” The Del Carmen Mangrove Forest Reserve,

MANILA BAY FILLED WITH PLASTIC WASTE A new study by Ecowaste Coalition, Korean International Cooperation Agency (KOICA), De La Salle University Dasmarinas, and the Department of Environment and Natural Resources reports that the Manila Bay is polluted by 12 million pieces of marine litter, 90 percent of which are single use plastics. Photo shows Ecowaste Coalition led by Aileen Lucero (2nd from left), DLSU research department, DENR-EMB officials, KOICA, and Our Sea East Asia Network (OSEAN) during a press conference at Max Restaurant in Quezon City Circle on January 25, 2024. PHOTO BY BERNARD TESTA/BM

sprawling over 4,800 hectares, is one of the largest in the country. It serves as a diverse habitat for different mangrove species and various land and marine organisms that provide the residents with food supply and sources of income. The mangrove forest also helps reduce organic pollution and can protect communities against intense winds and waves in the typhoon-prone country. The Del Carmen Mangrove Forest Reserve is an official nominee to the UN Ramsar Convention of Wetlands of International Importance - a step closer to putting one of Mindanao’s famous islands into the global map of wetland conservation. As par t of its ongoing environmental sustainability efforts, Del Carmen has initiated a reforestation project in three sites covering 50 hectares. This project, supported by OFT, will be

a source of livelihood and income to KAMAMANA members and their families. “Del Carmen is grateful for the support of One Meralco Foundation and the MVP Group through the One for Trees Program to increase awareness on the need of post-typhoon rehabilitation, the support to rehabilitate the Del Carmen Mangrove Forest Reserve and explore innovative solutions to maximize community-based livelihood to sustain the people’s behavior towards environmental conservation. It shows the continued commitment of LGU Del Carmen and the MVP group to ensuring a fairer and equitable world in which we live,” Del Carmen Mayor Alfredo Coro shared. Since 2022, OMF has committed to reforesting mangrove sites as par t of its effor ts for environmental sustainability and encouraging community participation to protect and preserve forests and mangrove sites that are also the source of livelihood in the communities. OFT has planted and is nurturing 2,330,729 trees, of which 322,079 are mangroves. “Reversing the losses in our environment takes more than just tree-planting activities; it takes conscientious efforts—from volunteers, to the local government partners, to the community—to grow, nurture and protect these trees so that the community can also reap economic and social benefits from them and over the long term, help mitigate the extreme effects of global warming and climate change. Ultimately, it is an investment for a more sustainable world for the future generation as well,” OMF President and Meralco Chief Sustainability Officer Jeffrey O. Tarayao concluded.

PLDT introduces next generation of Fiber, starts roll out of ultra-fast Gigabit Fiber plans

LDT Home is again breaking new ground in Philippine broadband with the launch of its ultra-fast Gigabit Fiber Plans which will provide Filipinos with the fastest, most reliable internet available today. Prior to this, PLDT Home was also the first to introduce the then-unprecedented speeds of up to 1 Gbps, giving Filipinos a glimpse of the wonders of the Gigabit Era of the internet. With the new Gigabit Fiber Plans, Filipinos will now have access to internet speeds of up to an astounding 10 Gbps. “We are proud to usher the Filipino into the Gigabit Era,” said Jeremiah de la Cruz, Senior VicePresident and Head of Consumer Business Home. “Our commitment is to be at the forefront of digital innovations, blazing the trail to give our countrymen the technologies which will open doors to meaningful opportunities that will make their lives better. We exemplify that today by pioneering the next generation of Fiber which allows PLDT Home to deliver Gigabit-speeds straight to the Home.” PLDT Home’s Gigabit Fiber comes in four different plans: 1 Gbps, 2.5 Gbps, 5 Gbps, and a maximum of 10 Gbps. These mind-blowing speeds enable simultaneous ultra-fast and high bandwidth online activities for everyone at home. In addition to the ultra-fast speeds provided by PLDT Home’s Gigabit Fiber plans, customers also get to round out their fully digital lifestyle as each Gigabit Fiber plan comes with a Gigabit modem complemented with a whole home WiFi 6 mesh system, subscriptions to IPTV and global streaming apps, and security services for personal devices at home. The plans don’t just give them an unmatched digital experience—they also get to enjoy exclusive VIP treatment like no other. Gigabit Fiber plan subscribers receive exclusive perks such as premium welcome kits and access to PLDT Home exclusive events and venues. Gigabit speed is the next generation of Fiber highspeed internet, pushing limits to at least 100 times faster than today’s average internet connections of 100 Mbps at home. The Gigabit unit of measurement refers to the data transfer speed of the connection. Current plans only transmit hundreds of megabits per second which, while fast, are easily eclipsed by the nextgeneration speeds. Gigabit internet essentially blows a household’s bandwidth wide open, not only providing ultra-fast connections, but keeping it consistent and reliable across many devices. This is especially useful for large families and groups who may have huge demands for a lag-free connection for everything they do in every computer and gadget—a reality which is becoming the new normal in Filipino homes. Only a handful of countries around the world have managed to tap into the unrelenting power of Gigabit-fast internet. Developed countries such as South Korea, Japan, and the United States have it, and its presence in the Philippines puts the country

PLDT SVP and Head of Consumer Business Jeremiah de la Cruz reaffirms the company’s commitment to making Filipinos’ lives better as the leading telco ushers the country into the Gigabit Era.

among an elite roster of nations in the world that are Gigabit-ready. Pioneering the next generation fiber plans that reached maximum speeds of 10 Gbps, PLDT Home’s innovation in its country-wide fiber infrastructure is guided by the fact that internet speed not only influences the way we communicate and consume online information, but also drives innovations in industries, levels up businesses, aids in work and education, sparks creative pursuits, and enhances people’s entertainment experiences. “As PLDT Home sets new ground for digital innovations, we foresee life, leisure, and work opportunities opening up for Filipinos. PLDT Home’s pioneering Gigabit Fiber plans will enable nex t-level efficienc y and produc tivit y, even smoother and more seamless entertainment, peak convenience in smart homes, and an all-around better digital lifestyle. We at PLDT are truly excited and positively welcoming Filipinos to the Gigabit Era,” said de la Cruz. With superfast gigabits of data streaming through PLDT Home Fiber, extreme power users— those who consume at least 5 TB of data every month—can download and upload large volumes of data in a matter of seconds. Ultra-high-definition 4K video and high-demand online games can stream with no lag at all, HD movies and series can download in only a few moments, and numerous large files can be transmitted without waiting, making for better efficiency and productivity at work and school from home. Meanwhile, as smart home technology develops at a rapid pace and more households in the Philippines embrace the future, they will need an internet that’s able to keep up and consistently power this digital ecosystem. Gigabit internet can reliably keep all the devices in your smart home running efficiently. PLDT Home’s Gigabit Fiber plans will be available initially in select villages in Metro Manila, Cebu and Davao. The limitless possibilities of gigabit internet thanks to PLDT Home’s Gigabit Fiber internet plans puts the Philippines on the brink of a major boost by giving Filipinos access to potentially life-changing internet speeds.

Gogolook, GoTyme join forces to bring a Scam-Free Pilipinas in today’s digital era

S Filipinos embrace the convenience and opportunities of the digital era, Gogolook, the TrustTech company behind the leading antifraud app Whoscall, recently announced a landmark partnership with GoTyme Bank, one of the fastest growing digital banks in the country with over two million Filipinos. This strategic collaboration marks Gogolook’s first private sector partnership and signifies a shared commitment to protecting Filipinos from digital scams and fraud, paving the way for a safer and more confident digital journey for all. This momentous milestone represents a significant step forward in securing the Philippines’ digital landscape. Gogolook and GoTyme recognize the growing need for robust security measures as Filipinos increasingly rely on digital platforms for everyday transactions and interactions. This MOU signing aims to empower Filipinos with the tools and knowledge they need to navigate the digital world with confidence, fostering a secure and thriving digital ecosystem. “With the rapid digitalization in the Philippines, it’s crucial to safeguard Filipinos from evolving online threats,” said Manwoo Joo, COO of Gogolook. “This partnership with GoTyme is a powerful testament to our shared commitment to creating a Scam-Free Pilipinas. By combining Gogolook’s extensive antifraud expertise with GoTyme’s reach and innovative digital banking solutions, we can create a safer and more inclusive digital environment for Filipinos.” At the heart of this collaboration lies Whoscall, Gogolook’s flagship anti-fraud app. Powered by a massive database of over 2.6 billion phone numbers and URLs, built through AI technology and partnerships with regional government and national defense institutions, Whoscall offers unparalleled protection against scams and phishing attempts. Through this partnership, GoTyme’s two million subscribers gain access to Whoscall’s powerful features, allowing them to easily identify and avoid suspicious phone calls and text messages, safeguarding their hard-earned money and personal

information. Beyond simply providing the Whoscall app, Gogolook and GoTyme pledge to actively champion cyber hygiene and awareness through collaborative initiatives. This includes sharing data insights and leveraging technology to identify and combat emerging fraud trends, as well as conducting educational campaigns to equip Filipinos with the knowledge and skills to protect themselves online. “We are delighted to announce that we have partnered with Gogolook as we jointly promote an advocacy to fight against scams and fraud,” said Albert Tinio, Co-CEO of GoTyme Bank during his remarks. “Together we can build a trustworthy ecosystem for our customers as we leverage Gogolook’s impressive database and advanced AI tech products such as the Whoscall Anti-Scam and Anti-Spam mobile solution in detecting malicious and suspicious calls and messages and assessing the risks of URLs.” “Both our companies see the importance of protection in today’s integrated digital lifestyle,” added Jason Brasileño, Fraud Strategy Head of GoTyme Bank. “Partnering with Gogolook reinforces our commitment to providing our customers with peace of mind while experiencing the convenience of digital banking. By working together, we can empower Filipinos to embrace the digital future with confidence, knowing they are protected from online threats.” This groundbreaking par tnership between Gogolook and GoTyme signifies a new era of collaboration in the fight against online fraud in the Philippines. By combining their expertise and resources, these two industry leaders aim to equip Filipinos with the tools and knowledge they need to navigate the digital age with confidence, contributing to a safer and more prosperous future for all. Together, Gogolook and GoTyme are leading the charge in creating a Scam-Free Pilipinas, ushering in a new era of digital security and empowering Filipinos to embrace the digital future with confidence.

Envoys&Expats BusinessMirror

envoys.expats.bm@gmail.com

Thursday, February 8, 2024

Finance secretary, top US embassy officials tackle trade, strategic links T INANCE chief Ralph Recto

UAE Embassy commemorates Intl Day for Human Fraternity

recently met Undersecretary for Economic Growth, Energy and Environment Jose W. Fernandez of the United States’ Department of State regarding strategic ties between their countries. In a statement, the Finance Department said Fernandez highlighted specific areas of interest for the US—particularly critical minerals, semiconductors, and energy security. For his part, Recto expressed the Philippines’s willingness to collaborate on the said sectors. He also urged the US to strengthen its trade partnership to diversify supply chains and enhance economic resilience. Recto assured the public that the Philippine government will

address investor concerns, such as high electricity costs through initiatives like the proposed amendments to the “Corporate Recovery and Tax Incentives for Enterprises Act,” and other streamlined processes to ease the conduct of business in the country. Ambassador MaryKay Carlson, US State Special Assistants Laura Russ and CJ Johnson, and key officials from the US Embassy in Manila joined Fernandez in the meeting. Anna Leah Gonzales/PNA

AMBASSADOR MaryKay Carlson (from left), Secretary Ralph Recto and Undersecretary Jose W. Fernandez DOF/PNA

India Natl Day: Reinforcing ‘truly dynamic ties’ with PHL

HE Embassy of the United Arab Emirates (UAE) marked the International Day for Human Fraternity on Sunday to champion “values of solidarity, peace, equity, tolerance and cultural diversity.” Ambassador Mohamed Obaid Alqataam Alzaabi said that “Human Fraternity Day comes…as the world is struggling for peace,” as he expressed hopes that “all people seize that opportunity to contemplate how we should live together; to realize that we are not here to conflict; that there is nothing [to be conflicted on. The world] can accommodate us all.” Since the United Nations General Assembly adopted a resolution in 2021 proclaiming February 4 of every year for the commemoration, it has become a global day celebrated annually by all countries and serves as a reminder that all men should peacefully coexist. According to Alzaabi, the resolution cited key contributions of people of all religions and beliefs to humanity, and commended international, regional, national, and local initiatives by religious leaders to promote interreligious and intercultural dialogue. “The [wise leadership of the UAE] has been exerting great effort over the last year to promote these values,” the ambassador explained. “For instance, the country opened [in 2023] the Abrahamic Family House:

AMBASSADOR Mohamed Obaid Alqataam Alzaabi

the world’s first interfaith complex housing a mosque, a church and a synagogue.” He added that “the UAE Higher Committee of Human Fraternity launched the ‘Zayed Award for Human Fraternity,’ which seeks to honor the legacy of His Highness Sheikh Zayed Bin Sultan Al Nahyan—founder of [our nation]—by celebrating people and entities who embody through their work his lifelong commitment to human fraternity.” The initiative was first introduced by the emirates, which hosted and advocated for the meeting between His Holiness Pope Francis and the His Eminence Grand Imam of AlAzhar Ahmad al-Tayyib on February 4, 2019 in Abu Dhabi. It resulted in the signing of the “Document on Human Fraternity for World Peace and Living Together.” The UAE declared that year as the “Year of Tolerance.”

I. Cervantes honors film legend Juan Mariné with online series

N January 26, the Embassy of India held the local celebration of the South Asian nation’s 75th Republic Day at the Rizal Ballroom of Makati Shangri-La. Ambassador Shambu Kumaran welcomed distinguished guests from the government, diplomatic and consular corps, as well as business leaders who joined the Indian community, who were resplendent in kurta pajamas and colorful saris. In his address, Kumaran said India is now the world’s most populous country with about 1.4 billion citizens: “Today, the nation is the world's fastest-growing major economy, the fifth largest, and soon to take its

place among the three largest economies worldwide.” In response, Undersecretary Charles Jose of the Department of Foreign Affairs mentioned that it is no surprise India and the Philippines have become mutual partners in both bilateral endeavors and multilateral undertakings: “In November this year, we will be celebrating the 75th anniversary of the establishment of our diplomatic relations. Our ties are truly dynamic, and now span the entire spectrum of bilateral cooperation.” The speeches were followed by a fashion show of Indian costumes from different states, and a sumptuous spread enjoyed by all.

AMBASSADOR Shambhu Kumaran delivering his Republic Day speech

HOUSE Speaker Martin Romualdez and Kumaran

VFS Regional Head Atu Lall (from left) and Consul Annette Ablan of Belarus

AMBASSADOR Yousef Esmaeil Zadeh of Iran (from left), Papal Nuncio and dean of the diplomatic corps Rev. Charles Brown, with Consul-General Issam El-Debs of Syria.

ROBERT YOUNG (from left), Ambassador Evren Aykol of Turkey, Consul-General Fortune Ledesma, Assistant Secretary Ariel Peñaranda, Undersecretary Charles Jose, Ambassador Vic Garcia and the columnist FASHION show of different costumes in India

THE columnist (from left), Chief Justice Alexander Gesmundo and former governor Roberto Pagdanganan

VARKHA CHOTRANI (from left), Johnny Chotrani, and Consul Melie Ablaza

TRANSPORTATION Secretary Jaime Bautista (from left), Congresswoman Marissa del Mar and Ambassador HK Yu of Australia

AMBASSADOR Peter Kell of New Zealand (from left), Ambassador Constance See of Singapore and Charlie Rufino

HIS February, Instituto Cervantes will showcase the online film series: “Juan Mariné, Goya de Honor” to celebrate one of the most valuable contributors to the history of Spanish cinema. Cinematographer and film inventor Juan Mariné Bruguera (born December 13, 1920) dedicated more than 80 years of his career to cinema, in such a way that his works have managed to capture and develop an essential imagery for Spanish culture in film. His efforts in film conservation and restoration vividly represent the importance of light in the history of Spanish cinema. The series will present four feature films personally chosen by the centenary professional, all of which prominently highlight the visual aesthetics woven into the films’ shots. By making use of light and cinematography in the making of a film, the series presents two overarching themes: The first two make use of black and white imagery in emphasizing the nature of visual aesthetics behind film shots, while the other two utilize imagery in cinema to create shots that make supernatural spaces in fictional genres credible. The series progresses on February 9 with a comedy: “Un millón en la basura” (1967), as city lights and the Christmas atmosphere bring the audience close to the lives of disadvantaged people in recognizing social realities. With the city captured masterfully by Mariné, the story follows Pepe Martínez who works in the night cleaning service of Madrid watering the streets. While filled with troubles about eviction during the Christmas season, one night, Martínez finds a wallet in a garbage can filled with bills and it seems like his luck has changed for the better. (Link to the movie: https://vimeo.com/885759612). With the online series halfway through its showing, the third film “El astronauta” (1970) will be avail-

able on February 16, as Mariné’s photographic work takes us away to the stars. Amid the space fever of the late 60s, the comedy film sets out with a parody on the infamous moon landing. The film centers around a group of friends in a village in Southern Spain who await the arrival of man on the moon through a bar’s television set. Viewing the feat as unexceptional, the group convinces themselves that they can start the Spanish space race and set out to build the space prototype on nearby land. (Link: https://vimeo. com/885757463). The film series will conclude on February 23 with La grieta (1991) which ventures into the wonders of science fiction and horror cinema, as Mariné works with director Juan Piquer in creating a supernatural stage under the sea. The film sets its stage in the interiors of a submarine, as a NATO mission dives to a crevasse at 15,000 meters deep in the Dannekin rift where an experiment seems to have caused strange mutations in the creatures that inhabit it, and where a submarine was lost, and is being rescued. (Link: https://vimeo. com/885643948). On February 2, the online film series was officially set in motion with the tension-filled romance of Orgullo (1955), as the long withstanding passions of rivalry muddles the budding passion of love. The films will be available for streaming through its Vimeo channel (vimeo.com/institutocervantes) and will be freely accessible for four days (96 hours) from their start date and time. The online film series, presented by Instituto Cervantes de Manila in collaboration with the Embassy of Spain, will be in Spanish with English subtitles. Viewing is free. For further information and updates on the film series, visit Instituto Cervantes’ website or its Facebook account.

Sports

RORY MCILROY, for years the loudest critic, is increasingly hard to figure.

BusinessMirror

Golden dive China’s

B8 | T

Chen Yuxi and Quan Hongchan are an almost perfect pair as they dive to the women’s synchronized 10m platform gold medal at the World Aquatics Championships in Doha, Qatar, Tuesday. AP

hursday, February 8, 2024

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Trust issues in golf’s big divide By Doug Ferguson The Associated Press

EBBLE BEACH, California—The obnoxious money ruining golf was sure to create trust issues with the leadership, and that lingers even as Professional Golfers Association (PGA) Tour Enterprises is now flush with cash from its new minority investor. Now it might be a question of who has lost the locker room: Jay Monahan or Rory McIlroy? How much Monahan has fallen out of favor as commissioner depends on who gets asked. The Associated Press spoke with 22 players during the Hawaii swing and their opinions were as varied as their status on tour. Most—not all—said the outcome of any deal probably would affect how they felt about Monahan staying in his job. The first part of the deal—maybe the only part if the Public Investment Fund (PIF) of Saudi Arabia loses interest—was announced last Wednesday, worth up to $3 billion. Half of that is geared toward equity ownership for the players. Still to come are the details. Keep in mind, players are still reeling from Monahan’s secret deal with PIF—the financial lifeline of LIV Golf—that was announced June 6 and floored them after so much anti-LIV rhetoric. Word is it

even left Jordan Spieth speechless. That was followed by six months of players feeling they were left in the dark on the negotiations with PIF and private equity groups. “If the deal comes through and people are happy, there will be probably more grace for what happened,” Nick Taylor said. “But for what happened [secret negotiations with PIF], it’s going to take a lot to forget about that. Maybe not forget, but forgive.” Brian Harman felt Monahan deserved a long rope because of how expertly he guided the PGA Tour in its return from the Covid-19 pandemic. “I have a lot of confidence in Jay. This has been an incredibly difficult hand he’s been dealt,” Harman said. “I don’t envy his position.” Xander Schauffele thinks it’s time for new leadership, and he was hopeful the new investor (Strategic Sports Group) would feel the same way. “They have to show the players change is coming for the better, and not this sort of stale sandwich we’ve been eating for quite some time,” Schauffele said. McIlroy, for years the loudest critic, is increasingly hard to figure. He is as good a speaker as he is a listener. But his views on LIV have been such a U-turn that Rickie Fowler jokingly referred to him as “pulling a PGA Tour.” Double ouch. McIlroy began to soften his views when Masters champion Jon

Rahm—key to European success in the Ryder Cup—bolted to LIV in December. And then to start the year, McIlroy appeared on a popular UK soccer podcast and said he has been too judgmental on players going to LIV, and that he was instrumental in getting PGA Tour leadership to meet with the Saudis. He said he accepted LIV as “part of our sport now.” But it was at Pebble Beach that McIlroy really raised eyebrows. It’s clear he wants the fractured landscape put back together as quickly as possible. That remains the biggest sticking point in any deal with PIF and its governor, Yasir AlRumayyan, who has referred to LIV Golf as his “baby.” McIlroy said he sees no reason for defectors to LIV to be punished. If they’re eligible for the PGA Tour, they should be allowed to play. “Let them come back,” he said. There remains strong feelings about LIV players taking guaranteed cash, costing the PGA Tour what amounts to market shares by their absence and then returning. Fowler was diplomatic when he said he was “probably not in the same spot” as McIlroy on the issue. “Maybe we started in a similar area, but I think there’s been a little roller coaster ride on his part,” Fowler said. “As far as decisions to go elsewhere and just, ‘Welcome back,’ I don’t think it’s a direct road. There has to be something for it.” AP

Prado, Bonilla, Altamarino dominate ITT races

JERMYN PRADO (left) with her proteges Angelica Mae Altamarino (center) and Kim Bonilla.

ERMYN PRADO, Kim Bonilla and Angelica Mae Altamarino were unbeatable in the women’s races and Nichol Pareja was dominating in the men’s competitions in Tuesday’s individual time trial (ITT) of the PhilCycling National Championships for Road 2024 in Tuy and Nasugbu in Batangas. The trio—who train as a miniteam—won their second gold medals in the championships presented by Standard Insurance and MVP Sports Foundation and organized by the PhilCycling and calendared by the International Cycling Union (UCI). “We really trained and prepared hard for these championships,” said Prado, whose proteges Bonilla and Altamarino are living up to the former Southeast Asian Games gold medalist’s standards. Prado won in 43 minutes and 40.64 seconds in the process slashing the 19.91-km course’s Women Elite record by almost two minutes set in last December’s Philippine National Games.

Bonilla dominated the Women Junior competition over a 10.68-km course with a 26:43.60 clocking, while Altamarino also easily won the 14.34-km Women Under-23 race with a 37:15.89 clocking. All three also won the criterium races of the championships also supported by Tagaytay City, Chooks-ToGo, Excellent Noodles, CCN and Fitbar and backed by the local government units in Batangas and Cavite and PNP commands in Batangas and Cavite and the Bureau of Fire. Pareja’s time of 44:24.93 was four minutes faster than the gold medalwinning time in the PNG last December over the 25.78-km course to reign supreme in the Men Elite race. Also winning their second gold medals were Yvaine Osias and Jhay Karl Nunez in Youth 2 (under 14)—Osias clocked 13:45.53 in the 5.38km race and Nunez ruled the same

5150 CamSur a test of endurance, resolve

HE 5150 Triathlon CamSur kicking off Sunday in Camarines Sur features a championship course that will put to test hundreds of participants. It’s been 15 years since the first Ironman took place in Camarines Sur and the landscape has evolved to accommodate the changing times. The Olympic distance race—1.5-km swim, 40-km bike and 10-km run—will witness a fierce competition among a new

generation of athletes eager to test their endurance and mental fortitude. Jonathan Pagaura and Emil Lorbes lead the cast in the men’s division while Bea Quiambao and Erika Burgos are poised for a spirited clash in the women’s side of the event organized in an Olympic-style setup against the scenic backdrop of Mt. Isarog. Registration is still open at ironman. com/5150-camsur-register. However, the field will face not only

A team named APCOR ONCE upon a time, in a basketball era very different from what we know today, there was a team named the APCOR Financiers, or simply, APCOR. When they burst into the scene in the early 80s, the Philippine basketball landscape had had a radical change. The first pro basketball league in Asia, and the second in the world next only to the National Basketball Association, had taken over.

the challenging race course but also the hot weather conditions at this time of the year, adding an extra layer of toughness to the competition. Race director Julian Valencia expressed excitement about bringing back triathlon to CamSur, acknowledging the support of the provincial and local government of CamSur and various agencies in ensuring a memorable and safe race.

The Philippine Basketball Association’s inception in 1975 had lured the big teams away from the Manila Industrial and Commercial Athletic Association (MICAA), the then big league that dominated Philippine basketball and owned the hearts of Pinoy basketball fans from 1938 to 1981. The MICAA lost its sheen after the teams that the public loved to watch—Crispa, Toyota, YCO-Tanduay, San Miguel/ Royal Tru-Orange, Mariwasa, Concepcion, Utex, Presto and Seven-Up—crossed over to the pros. But new teams came along and gave the MICAA the spark of life. Bax Jeans, Filsyn, Imperial Textile Mills, Jag Jeans, LR Villar/A&W Records, Romago Electric Co., Solid Mills, St George Whisky (later to become Añejo Rum, then Ginebra) held the fort for the MICAA after 1975, but it was no match for the PBA. And then came APCOR, a team that entered the empty-nester “old league” in 1980, and in just two years, put on a dazzling, amazing show that made the MICAA relevant again. It was a special team, says of one of its young stars, Padim Israel, “a Cinderella champion team, a powerhouse with a great coach, great players, great management—all the right ingredients, instantly.” Made up of Israel (Ateneo), Ramon Cruz (University of the East), Alex Clariño (Lyceum), Carlson Samlani

Angara hails PHL Fiba LOC

Jerusalem, Andales go after Japanese brothers’ world titles By Josef Ramos

ELVIN “GRINGO” JERUSALEM and ArAr Andales will challenge Yudai and Ginjiro Shigeoka hoping to snatch the Japanese brothers’ world championship belts on March 31 in Nagoya. Jerusalem will go after Ginjiro’s World Boxing Council minimum weight belt while Andales will target Ginjiro’s International Boxing Federation minimum weight crown. “This is good news and I’m very excited that I will be fighting for a world title again,” the 29-year-old fighter pride of Bukidnon Jerusalem told BusinessMirror on Wednesday. He once ruled the World Boxing Organization (WBO) 105-lb division. Andales holds a 14-2-3 win-lossdraw record with six knockouts while Ginjiro is sporting a 10-0 record with eight knockouts. distance in 11:12.60. Maria Louisse Alejado (women) clocked 23:12.60 and Jerick Cabael (men) was timed 18:49.30) to win the Youth 1 (under 14) race over a 5.38-km course, while Samstill Mamites (men) lorded over the Youth 2 (14-16) competition over a 10.68-km distance.

Vanessa in action Vanessa Gandler sets

the ball for Cignal HD which beat reigning champion College of Saint Benilde, 18-25, 25-21, 25-17, 17-25, 15-13, for an eliminations sweep in the Philippine National Volleyball Federation Champions League action Wednesday at the Rizal Memorial Coliseum. NONIE REYES

Yudai, 26 and unbeaten in eight fights with five knockouts, stakes his mettle against Jerusalem (21-3 record with 12 knockouts). Jerusalem knocked out Japanese Masataka Taniguchi in the second round January 6 last year to capture the WBO belt. But Puerto Rico’s Oscar Collazo knocked out Jerusalem in the seventh round last May 27 in Indio, California, to snare the title. Jerusalem started his trek back to the world title by beating compatriot Francis Jay Diaz in General Santos last October to secure another world title opportunity. “I will do my best, give my best shot to duplicate my performance last year when I won my first ever world title,” Jerusalem said. “I know it’s not going to be easy but I’m ready.” He’s coached and trained by Michael Domingo.

Gov. Jubahib Cup in DavNor unfurls

ROMISING young talents from the southern regions pursue titles and ranking points in the Governor Edwin Jubahib Cup national tennis championships starting Thursday at the DavNor Tourism Sports Complex courts in Davao del Norte. The five-day Group 2 tournament, featuring close to 250 players across nine age groups, marks the inaugural leg of a two-part series presented by Dunlop and initiated by Governor Edwin Jubahib to elevate the sport and unearth future tennis stars. The next tournament is set February 15 to 19. For details, contact event organizer Bobby Mangunay at 0915-4046464. Jason Battad, Randy Pausanos, Stephen Fuertes and Bench Neri lead the cast in the boys’ 18-and-under division with Chelsea Bernaldez, Ana Salahuddin, Aika Salahuddin and Sanschena Francisco bannering the girls’ side of the premier category, which both drew 32-player rosters. Battad and Fuertes also head the 16-and-under cast that includes Mohammad Mosaid and Error Giducos, while Aika Salahuddin also shoots for a double as she gains the top seeding in the girls’ 16-and-under play that also features Camille Clar, Jannah Otico and Faith Lazaro.

(San Sebastian), Arturo “Bai” Cristobal, Rey Lazaro, Marte Saldaña, Elpidio “Yoyoy” Villamin, Conrado Pasco and Alex Amador (Far Eastern University), Rudy Garcia (Ateneo de Zamboanga and FEU), Reynaldo Ramos (Trinity College) plus Romeo Martin, Florante de la Cruz, Joselito Danggoy and Allan Meimban, the team was coached by multi-titled mentor Arturo Valenzona. Its manager was no less than APCOR president and noted finance man Armand Santos. On its MICAA debut, it made waves instantly, winning a championship on its first year by defeating the Freddie Webb-coached YCO Painters, 2-1, in the finals series. It was just the fourth team in the MICAA’s 43-year existence to accomplish the feat. At year’s end it won another MICAA championship, this time the invitationals, against the Presto Fun Drinks. (Take note that several ball clubs that joined the PBA also maintained amateur teams in the MICAA.) The following year, APCOR won its third consecutive title against Crispa 400 in the opening tournament, then also defeated Jag Jeans in August 1981 for its fourth MICAA crown. All told, APCOR scored a 4-peat in the MICAA and also won two National Open crowns during its two-year lifetime, making it the national champs, all in one heave.

ENATOR Sonny Angara sponsored during Tuesday’s plenary session Senate Resolution No. (SRN) 857 congratulating and commending the Local Organizing Committee (LOC) of the Federation Internationale de Basketball (FIBA) and the Samahang Basketbol ng Pilipinas (SBP) for the successful hosting of the 2023 FIBA Basketball World Cup (FBWC). The FIBA World Cup was held August 25 to September 10 last year with 32 national men’s teams competing in the Philippines, Japan and Indonesia with more than half of the 92 games on the program played at the Smart Araneta Coliseum and Mall of Asia Arena. Angara said that the national team or Gilas Pilipinas may not have finished strongly “but with our hosting of the World Cup, we as Team Philippines have won a lot of other victories.” “We should not allow the lessons we’ve learned, and the confidence we’ve gained from this experience, go to waste,” he said. “Here was a clear example of what we, as Filipinos, can accomplish, when we work together towards achieving a single vision.” The resolution was later adopted by the Senate with all senators as co-authors. Fierce duels are also expected in the 14-and-under category with Yendor Carvajal, Matt Docena, Dexter Salcedo and Gian Luna leading the boys’ roster and Otico spearheading the girls’ side that includes Princess Placa, Jhuane Flores and Arriana Maglana. Kresthan Belacas, Francis Florida, Jaycee Compa and Docena are tipped to dispute the boys’ 12-and-under title with Justine Gumbao and Shan Tuyor bracing for duel in the girls’ division of the event serving as part of the country’s longest talent-search sponsored by Palawan Pawnshop president and CEO Bobby Castro. Daneea Sinsuat, Gabriel Francisco, Francis Dimzon and Christian Otig, on the other hand, set out for spirited duel in the 10-and-under unisex class of the tournament sanctioned by the Philippine Tennis Association and the Universal Tennis Ranking. Meanwhile, the Mayor Josef Fortich Cagas Cup will be held February 22 to 26, another juniors Group 2 tournament at the Digos City Tennis Club to be followed by the Governor Yvonne Cagas Cup from February 29 to March 4 at the Bansalan Tennis Club. Action shifts to Kidapawan City from March 7 to 11 for the Kidapawan City NTC in Cotabato.

Sadly, the MICAA folded the following year. But APCOR would be remembered as the most powerful amateur ballclub of the early 80s. Last Saturday, February 3, the APCOR team got together again after 43 years at a dinner hosted by their team manager, Armand Santos, at Manila Golf. Rad Pasco, Gerry Samlani, Romy Martin, Padim Israel, Mon Cruz and Coach Turo were present, with Marte Saldaña and Danny Manalastas flying in from San Francisco. “The reunion was fun and joyful. A big part of it was reminiscing with stories and pictures, a video presentation and hard copies of sports magazines,” Padim recalled. “The APCOR team is a big family,” shared Mon Cruz, who emphasized the tightness of the APCOR bond. “It’s my favorite team. It’s very special to me. Ang tatag ng samahan namin at walang inggitan.” Among the things that they recalled at the reunion, besides their accomplishments, were the good times. “’Yung mga biruan namin, especially [pag] the late Alex Clariño ang [nag] pasimuno, walang katapusang tawanan,” Mon remembered fondly. “We intend to get together [again] without any fanfare, just a simple catching up on each other lives,” Mon concluded. Great teammates, like great teams, never can say goodbye.