BusinessMirror February 23, 2022 by BusinessMirror

Avian flu risk to humans ‘very low’–Dar By Jasper Emmanuel Y. Arcalas @jearcalas

& Samuel P. Medenilla

@sam_medenilla

ALACAÑANG said on Tuesday a “no test, no movement” policy for poultry is now in place in areas in Luzon which were hit by avian influenza (HPA1) to prevent the spread of the infectious disease. Acting Presidential spokesperson Karlo B. Nograles said authorities imposed the measure in Baliuag, Bulacan, as well as Candaba and Mexico in Pampanga, which reported cases of HPA1. “Our pou ltr y sta keholders have been duly informed, and

“‘Our poultry stakeholders have been duly informed, and the Bureau of Animal Industry has advised and tasked them to self-monitor and conduct internal surveillance on their own farms.” - Acting Presidential spokesperson Karlo B. Nograles

the Bureau of Animal Industry has advised and tasked them to self-monitor and conduct internal surveillance on their own farms,” Nograles said during an online press briefing on Tuesday.

The government and poultry industry stakeholders, meanwhile, assured the public that the risk of catching highly pathogenic avian influenza (HPAI) H5N1 virus is “very low” and poultry meat products remain “safe” to eat. “We assure the general public that the risk [of catching the] H5N1 virus is very low. Poultry meat and its products are safe to eat,” Agriculture Secretary William D. Dar said in a statement on Tuesday. Dar said the Department of Agriculture (DA), local government units (LGUs) of Pampanga and Bulacan, and the Department of Health (DOH) are coordinating to implement measures “to avoid the risk of transmission to humans”

of the virus. “We enjoin all poultry raisers and farm workers to observe and implement necessary biosecurity measures and cooperate with temporar y movement restrictions that may be applied in affected areas to prevent incursion of the disease in their facilities/ farms,” he said. The government’s AI Protection Program (AIPP) said there is “no evidence that any human cases of avian influenza have been acquired by eating poultry products.” The AIPP manual contains the government’s established protocols during bird flu outbreaks. See “Avian flu,” A2

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Wednesday, February 23, 2022 Vol. 17 No. 138

WAR-FUELED OIL PRICE INFLATION IMPACT EYED n

P25.00 nationwide | 3 sections 24 pages | 7 days a week

POST-DUTERTE FISCAL PLAN IN ‘FINAL TOUCHES’ By Bernadette D. Nicolas

INANCE Secretary Carlos G. Dominguez III said they are now working on the “final touches” of a fiscal consolidation plan to help the next administration address the country’s debt which further ballooned amid the Covid-19 pandemic, but would not confirm or deny if such plan will include proposals for additional taxes. Speaking before members of the Financial Executives Institute of the Philippines (FINEX), Dominguez on Tuesday stressed

TRANSPORT group Pinagkaisang Samahan ng mga Tsuper at Operator Nationwide (Piston) and militant labor groups stage a protest at a gasoline station on East Avenue in Quezon City on Tuesday, February 22, 2022, calling on the government to scrap the oil deregulation law to mitigate the spiraling cost of fuel. This is the eighth consecutive week that oil firms have raised their fuel prices. And, while there are rumblings of a possible transport strike and lawmakers pitching for relief, Malacanang Palace sees little indication that Congress can pass legislation for such purpose anytime soon. See A1 top story and also “Relief from steady oil price hikes not seen to come from legislation,” on page A12.

By Cai U. Ordinario @caiordinario

S Russian tanks make their way into Donetsk in eastern Ukraine, oil prices teased the $100 per barrel level, raising alarm bells for net oil-importing countries like the Philippines to brace for the impact of these developments on local pump prices. See “Oil price,” A2

@BNicolasBM

that the country needs to outgrow the country’s debt “at the soonest possible time” to lower its share in relation to the country’s GDP which had already spiked to a 16-year-high of 60.5 percent in 2021. It was in 2019 when the country notched its record-low debtto-GDP ratio of 39.6 percent. “The only way to make this sustainable is by growing the economy faster and investing in the future. The fiscal deficit should be lowered to cover only infrastructure investments and not operational expenses,” See “Duterte,” A2

Japan, Sokor visitor lanes for vaxxed sought By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

HE Philippines has proposed to the governments of South Korea and Japan to set up “special visitor lanes” for fully vaccinated leisure travelers to and from these countries. This was confirmed by Tourism Secretary Bernadette Romulo Puyat in a Viber message to the BusinessMirror: “We, the Department of Tourism (DOT) and Department of Foreign Affairs (DFA), are working

“We, the Department of Tourism (DOT) and Department of Foreign Affairs (DFA), are working on it. We’d like to pattern this after our arrangement with Singapore.” –Tourism Sec. Berna Romulo Puyat

on it. We’d like to pattern this after our arrangement with Singapore.” Just recent ly, Ma n i l a a nd

Singapore agreed to set up special visitor lanes for their fully vaccinated citizens traveling between both locations starting March 4. The program, knows as Vaccinated Travel Lane in Singapore, will allow fully vaccinated t ravelers to enter Singapore “quarantine-free,” according to the city state’s Safe Travel website. Visitors to Singapore must have been inoculated with Covid-19 vaccines approved by the World Health Organization. (See https://bit.ly/3t108D1). The same procedure will be applied

for arriving Singaporeans in the Philippines. Romulo Puyat will be leaving for South Korea and Japan this Friday to meet with their respective travel trade groups, in a bid to reopen tourism traffic with the Philippines. “We are meeting with the biggest media partners, tour operators, travel associations and presenting the reopening of the Philippines, and to personally invite them to the WTTC Global Summit,” she said.

PESO exchange rates n US 51.3930 n japan 0.4479 n UK 69.9048 n HK 6.5878 n CHINA 8.1123 n singapore 38.1905 n australia 36.9516 n EU 58.1358 n SAUDI arabia 13.6982

See “Vaxxed,” A2

Source: BSP (22 February 2022)

BusinessMirror 61 HK OFWs have Covid; DFA, DOLE say they’re being cared for

www.businessmirror.com.ph

Wednesday, February 23, 2022

By Samuel P. Medenilla @sam_medenilla

HE number of overseas Filipino workers (OFW) who were infected with Covid-19 in Hong Kong rose to 61 as of Tuesday. This after the Philippine Consulate General in Hong Kong reported another 20 OFWs tested positive for Covid-19 in addition to the previous 41 reported by labor officials. Hong Kong Consul General Raly J. Tejada said 31 of the infected OFWs

approached them to seek assistance to get access to hospital admission and isolation rooms. “Through the immediate intervention of the consulate and in collaboration with the Hong Kong authorities, our NGO (non government organization) friends and the Filipino Community, I am pleased to report that all of them are safe and have received medical attention and are now staying in an isolation facility,” Tejada said in an online press briefing on Tuesday.

The sudden surge in Covid-19 cases in Hong Kong has made it difficult for infected individuals, including OFWs, to get medical treatment in hospitals as well as accommodations in isolation facilities. L a s t Tu e s d a y, Te j a d a s a i d t h e Hon g K on g go ve r n me nt com m it t e d t o h e l p a l l i n f e c t e d OF Ws g a i n a c c e s s t o t h e f a c i l it i e s f o r t r e at i n g C o v i d . In a separate statement, the Department of Labor and Employment (DOLE) said there are 49 infected

OFWs, who are asymptomatic and are staying in community isolation and another nine, who are symptomatic and admitted in hospitals. Two of the hospitalized OFWs have recovered. DOLE’s report did not account for the whereabouts of the additional OFW reported by the Philippine Consulate. Both the Philippine Consulate and DOLE reiterated that none of the OFWs were terminated by their employer after being infected with Covid-19.

Oil price. . . Continued from A1

On Tuesday, local economists sounded the alarm that the rise in oil prices complicated by hostilities in Eastern Europe have the potential to again increase inflation nationwide. Based on international reports, Dubai crude settled at $90.89 per barrel on February 20 while Brent crude oil prices reached $98.87 and WTI crude oil prices were pegged at $94.7 per barrel. “The tensions have pushed up international prices, so oil prices will remain high until defused. But even if defused, the growing global economy and mobility may still keep prices from coming down as low as otherwise,” Peter Lee U, former dean of the University of Asia and the Pacific (UA&P) School of Economics, told B usiness M irror on Monday. Given the country’s position as a net oil importer, there is little that the government can do to temper the rise in oil prices and cushion its impact on inflation. All the government can do now is to provide subsidies to sectors that will be affected,” according to U. “Oil prices are set globally, we really can’t control it. The government can only offer subsidies to the transport sector. It will be like borrowing against the future. It’s like what the government did with vaccination. We borrowed against the future,” U said.

Inflation hurts poor

Avian flu. . . Continued from A1

“Influenza viruses such as H5N2, H7N2, and H5N1 are destroyed by adequate heat, as are other food-borne pathogens, however, exposure is possible during the slaughtering process and when plucking the feathers, thus, it is not recommended that meat of sick chickens are taken as food by humans,” the AIIP manual read. “Also, feeding animals with sick poultry should not be done,” it added. The latest report by the World Health Organization-Western Pacific Region (WHOWPR) showed that the last recorded human case of HPAI A(H5N1) was in October 2020 in Lao PDR.

56% fatality rate

From 2003 to February 17, 2022, the total human cases of A(H5N1) in the Western Pacific Region were at 239 with 134 dying from the virus, resulting in a case fatality rate (CFR) of 56 percent, according to WHO-WPR.

All the human cases of A(H5N1) in the Western Pacific Region were recorded in Cambodia, China, Lao PDR and Vietnam. “Globally, from January 2003 to 17 February 2022, there have been 863 cases of human infection with avian influenza A(H5N1) virus reported from 18 countries,” WHO said in its weekly AI update. “Of these 863 cases, 455 were fatal (CFR of 53 percent). The last case was reported from India in July 2021,” it added. The BusinessMirror broke the story on Tuesday that the Philippines lost its bird-flu free status after the government reported its first confirmed outbreaks of HPAI H5N1 that killed over 42,000 quails and ducks in four Central Luzon farms. (Related story:

https:// businessmirror.com. ph/2022/02/22/phl-reportsnew-avian-f lu-outbreaks-incentral-luzon-farms/)

Broilers still AI-free

United Broiler Raisers Association President Elias Jose Inciong assured Filipino consumers that the price of chicken meat

would remain stable and affordable as the country’s broiler chicken population remain bird flu-free. Inciong also emphasized that it is safe to consume chicken meat since no single broiler chicken has been affected by bird flu today. Inciong noted that the country’s broiler chicken industry has remained free from bird flu ever since the very first AI outbreak of the country was confirmed in 2017. “Broiler chickens have not been affected by bird flu simply because of the nature of our operations. First, we have a very short gestation period depending on the weight of the broilers with harvesting ranging from 27 to 34 days,” Inciong told the BusinessMirror. “Our operations are also confined, hence, there is no exposure to wild birds or other species of poultry. Lastly, world-wide protocols for biosecurity measures have been well-established in the industry. Therefore, among all poultry species, it is the most unlikely to be infected by bird flu,” he added. At the Palace briefing on Tuesday, Nograles said the Department of Agriculture (DA) already conducted culling and proper

disposal operations as well as case tracing and surveillance in the affected farms, which are currently under quarantine. “The disease, according to DA and BAI (Bureau of Animal Industry), remained isolated in ducks and quails in the two provinces. But nevertheless, the Bureau of Animal Industry is conducting massive surveillance on the one-kilometer radius in the affected area,” he said. He said DA is also coordinating with the DOH to prevent the potential spread of the infection to humans.

Vaxxed. . . Continued from A1

The World Travel and Tourism Council Global Summit will be held in Manila this April 20-22, and the DOT expects to gather some 600 international delegates. This will include CEOs of the largest and most prominent international travel and tourism companies from airlines, hotels and resorts, travel agencies, tour companies, global distribution system, transportation, and allied enterprises; as well as Tourism Ministers and officials from international organizations, such as the United Nations World Tourism Organization.

Reciprocity in vaxx certificates

The DOT chief said, “I am hoping to meet also with my counterparts to raise the possibility of setting up special travel lanes to facilitate the quarantine-free entry between our countries.” Since 2020, Romulo Puyat has been trying to forge travel bubble arrangements between key destinations in the country with South Korea and Japan, to ensure the safe travel of tourists. In South Korea, travelers from the Philippines (Korean nationals and long-term foreign residents) have to quarantine at their residence for 10 days upon arrival. In Japan, all travelers from the Philippines have to quarantine for three days at a government facility. Romulo Puyat noted, “These quarantine restrictions are holding back their citizens from traveling to the Philippines.” Meanwhile, the Philippines and the Republic of Korea have agreed to recognize each other’s vaccine certificates, a move that will pave the way for a reinvigoration of people-to-people exchanges. In a news statement, the DFA said the matter was discussed “during a phone call” between Foreign Affairs Secretary Teodoro L. Locsin Jr. and South Korean Foreign Minister Chung Eui-yong on February 8. Students, tourists, and business persons from the two countries are expected to benefit from this facilitated travel arrangement. Prior to the pandemic, in 2019, South Koreans topped the list of tourist arrivals at almost 2 million, accounting for 24 percent of the 8.26-million foreign tourists that year. Despite the global spread of Covid-19 in 2020, arrivals from South Korea continued to top the tourists list at 338,877, or 23 percent of the 1.48-million total arrivals. Philippine borders were closed starting March 2020 and only reopened to fully vaccinated foreign tourists from visa-free countries on February 10, 2022. From February 10 to 20, 2022 there were 859 tourists who arrived from South Korea, according to data from the DOT. Total tourists reached 25,035 tourists for the period. (See, “PHL benefits from foreigners’ ‘revenge travel’—tourism execs,” in the BusinessMirror, February 21, 2022.)

These subsidies could go a long way. Ateneo Eagle Watch Senior Fellow Leonardo A. Lanzona Jr. told B usiness M irror that any time inflation increases, it is the poor who suffer the most. Based on data from the Philippine Statistics Authority (PSA), while inflation for all households averaged 4.5 percent in 2021 under its 2012-based Consumer Price Index, inflation for the bottom 30 percent of the population averaged higher at 4.8 percent. This is because a larger share of the income of poor households goes to food. This leads to the higher weight of food in the basket of goods used to compute for inflation experienced by the poorest 30 percent of households. For this reason, Lanzona said, the next administration will have to seriously consider its social protection policies. This should become an essential part of the next government’s development thrusts. “This (higher oil prices, tensions in Europe) could certainly have an impact on the pump prices and eventually on inflation. In any way, even without the crisis in the Ukraine, oil prices have been expected to go up. The poor will be the most affected as in all inflationary episodes,” Lanzona said.

Fiscal space

The economists agreed that subsidies are essential means to cushion the impact of high oil prices and, consequently, high inflation. However, the government’s limited fiscal space makes this a major challenge. De La Salle University economist Maria Ella Oplas told this newspaper that the government has a lot on its plate right now, and that inflation is not the only problem it faces, noting the country’s high debt-to-GDP ratio. The country’s debt-to-GDP (gross domestic product) ratio stood at 60.5 percent, rising from 54.6 percent last year and slightly higher than the 59.1 percent projected by the government for 2021. The internationally-accepted threshold for emerging markets, including the Philippines, is at 60 percent. This, Oplas said, would make further borrowings “dangerous” for the country. UA&P economist Cid L. Terosa agreed with Oplas. Terosa said the Philippines does not have the fiscal space to borrow. However, if push comes to shove, this can be an option to raise much-needed revenues. The primary tradeoff of such a move, Terosa said, would be to “weigh down our economic recovery efforts in the near future.” “It’s a tough predicament given the need to ride the wave of economic opportunities presented by the gradual reopening of the economy and the need to address inflationary risks faced by the country,” Terosa told this newspaper. One “extreme” way to create the much-needed fiscal space is for the government to consider providing a tax holiday for businesses. Oplas said this would lead to reduced revenues for the government but it could allow free market forces to move. This would ensure that unemployed Filipinos get work and for those who have jobs, to be able to keep them. Steady incomes, she said, would give Filipinos the wherewithal to spend on their basic food and non-food needs, even if prices of these commodities increase due to higher oil prices. “Yes, the government will have to let go of revenue. But the important thing is for businesses to survive or at least stand on its own first. But of course (this is an) extreme (measure). When the business sector recovers from all the lockdown, that’s one problem less that the government can think of once external events start affecting local conditions. It’s important for businesses to continue recovering,” Oplas explained to B usiness M irror.

Wealth tax

Another proposal being floated is the imposition of a wealth tax. Lanzona said a wealth tax could help raise revenues for the government. He said the goal should be to have rich Filipinos in the top 1 percent pay more. This can be best done through an income tax which could have a “less distortionary effect than a value added tax or an excise tax.” A study by the Fight Inequality Alliance, Institute for Policy Studies, Oxfam, and Patriotic Millionaires showed that imposing a progressive annual wealth tax could raise $ 6.3 billion to $ 9.2 billion annually for the country. The low end of the estimate is borne of a less progressive wealth tax of 2 percent on wealth over $ 5 million; 3 percent on wealth over $ 50 million; and 5 percent over $1 billion. The high end of the estimate is based on a 2-percent tax imposed on wealth that is over $ 5 million; 5 percent on wealth over $ 50 million; and 10 percent over $1 billion. “Instead of reducing money supply, which is the common way to reduce inflation, a wealth ta x will have a lesser impact on investments,” Lanzona said. “I am not sure about the percentages (as of this time), but I agree that it (wealth ta x) should be progressive.” Terosa said that while a wealth tax is possible, pushing for new legislation would take time. “Yes, that’s possible, but the crisis may be over before the tax is approved by Congress. The coming electìons will impede the quick passage of the wealth tax.” The study of Fight Inequality Alliance, Institute for Policy Studies, Oxfam, and Patriotic Millionaires showed that between 2016 and 2021, the number of individuals with wealth over $ 50 million increased from 295 to 36,5 with combined wealth increasing from $75.36 billion to $ 91.45 billion—a gain of 21.36 percent, adjusted for inflation. There are 16 billionaires account for total wealth of $45 billion. Throughout the pandemic, beginning in mid-March 2020, the wealth of the Filipino billionaire class increased by $11.68 billion.

Duterte. . . Continued from A1

he said during FINEX’s 2nd Genral Membership Meeting. When asked to confirm whether the Department of Finance will be proposing additional taxes for the next administration, Dominguez did not categorically confirm or deny this, but he stressed the need to pay for expenses incurred by the government during the pandemic. “ You k now, w e are just pu t ting the final touche s on our fis c al c onsolida tion plan. A nd w e’re not at this point, I don’ t have a c omple te p ack ag e, bu t c e r t a i n l y, c e r t a i n l y , y o u know, looking re alistic ally at our sit uation, w e have to p ay for Covid. I m e an, w e c annot just have Covid and not p ay for it, ok ay ? You don’ t k now how much w e sp ent on just p a y i n g f o r t h e v a c c i n e s ,” Domingue z s aid. In the same forum, he also said they will be including in the fiscal consolidation package the economic reform bills that will not be passed under the Duterte administration.

Carryover measures

“Should it not be passed, within this term, we will include PIFITA (Passive Income and Financial Intermediary Taxation Act) and the Real Property Valuation and Assessment Reform Act In our fiscal consolidation plan, which we will turn over to the incoming economic team. This plan aims to ensure that the gains made by the Duterte administration in tax performance through fiscal reforms will not be rolled back but ultimately, continuously sustained,” he said. Apart from the two packages under the administration’s Comprehensive Tax Reform Program, Dominguez said they may also include the Capital Market Development Act in the fiscal consolidation plan if this will also not be passed under the current administration. Dominguez reiterated that the government had to resort to emergency borrowings to cover the massive cost of Covid-19 response and the drop in revenues resulting from lockdowns and economic slowdown spawned by the pandemic. As of end-2021, the national government’s outstanding debt stood at P11.73 trillion, higher by 19.7 percent from P9.795 trillion a year ago. The debt-to-GDP ratio at 60.5 percent in 2021 was also the highest since 2005’s 65.7 percent.

The Nation BusinessMirror

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Editor: Vittorio V. Vitug • Wednesday, February 23, 2022 A3

DND chief signs deal for purchase of 32 more Black Hawk choppers

By Rene Acosta

@reneacostaBM

HE government has formalized its intent to acquire additional 32 S70i Black Hawk helicopters for the military by signing the contract on Tuesday with the aircraft’s Polish manufacturer PZL Mielec. Defen se Sec ret a r y De l f i n Lorenzana signed the contract with Janusz Zakrecki, PZL Mielec president and general director, during a ceremony at the Department of National Defense at Camp Aguinaldo in Quezon City.

“This is a continuing relationship between our countries. The Philippine Air Force is very happy with the Black Hawk helicopters,” Lorenzana said in his remarks. The Air Force already has 15 Black Hawks in its inventory that

were purchased from the same Polish firm, which delivered them in batches, the last of which was in November last year. Originally, the military acquired 16 aircraft, but one of them crashed in June last year in Tarlac while its crewmen were on a night proficiency training, killing all those on board. The additional 32 ordered choppers with a total contract price of $624 million, the defense department said comes with integrated logistics support and training packages for pilots and maintenance crew. PZL Mielec, in an e-mail to the BusinessMirror’s Envoys and Expats Section Editor Mike Policarpio, said the Air Force will receive all the helicopters in a “general

utility configuration.” “Each aircraft will be equipped with a color weather radar, digital map, cabin troop seats, and a 9,000-pound [4,082 kilogram] cargo hook. Pilots and maintainers will receive training both in the US and the Philippines,” Zakrecki said. “Further information about weapons systems can be given by Armed Forces.” Zakrecki believed the Air Force was very satisfied with the Black Hawks and their performance despite the single incident of crash, which the military earlier declared was due to pilot error. “The results of the investigation were provided publicly by the Philippines officially. The PAF Black Hawk fleet was brought back to

operations. PZL Mielec finished the deliveries from the previous contract, and now we signed another contract for additional 32 Black Hawk helicopters. For me personally, it is the highest recognition for the S-70i Black Hawk helicopter manufacture by PZL and proof that the Philippine Air Force is satisfied with it,” he said. Following the signing of the contract, Lorenzana is hoping the Polish company could start delivering the aircraft at the soonest possible time, although it may already take place after his term. “Hopefully, the delivery of these new utility helicopters will start soon. I think we will not be here anymore to receive these helicopters, but nonetheless, we will be

happy to see the improvement of the capability of the Philippine Air Force,” he said. Meanwhile, General Charles Flynn, commanding general of the United States Army Pacific (USARPAC) made a courtesy call on the Armed Forces Chief of Staff General Andres Centino on Monday where both discussed cooperation on capability development, joint training and security matters. The USARPAC will conduct the “SALAKNIB” military exercises with the Philippine Army on March 5 to 24 in various areas in Central Luzon. The SALAKNIB is an annual Army-to-Army bilateral training exercise to enhance defense readiness and interoperability between the armies of two countries.

Business leader airs caution on reopening of PHL borders By Tyrone Jasper Piad @TyronePiad

HILE reopening the country’s borders to vaccinated tourists will boost tourism revenues, a business leader expressed some concerns on its impact on the country’s initiatives to contain Covid-19. Philippine Chamber of Commerce and Industry (PCCI) Chairman Sergio Ortiz-Luis Jr.

said in a “Laging Handa” briefing on Tuesday that there may be “danger” in bringing down the borders to allow more tourists in the country. “May danger ’yung pag-o-open. Although makakatulong talaga sa job generation, especially sa tourism,” he said. As of February 14, the Department of Tourism reported that inbound tourist arrivals from visa-free countries reached over 9,000;

more than 5,000 of these were foreign tourists. The department sees more tourists going into the country following the reopening of the borders. With this, Ortiz-Luis reminded the need to implement the health protocols strictly. As for the proposed easing to Alert Level 1, the PCCI official said this would boost the economy given the increase in mobility. He said the country has a lot of catching

up to do compared to its neighbors. Easing up restrictions will benefit especially the non-essential sectors, he added, noting they have been unable to operate to a certain extent as per the mandate by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases. Recently, Presidential Adviser for Entrepreneurship Jose Maria A. Concepcion also urged the government

to further ease the mobility restrictions soon, especially with the upcoming summer to encourage travel and other tourism-related spending. More mobility for tourists will allow them to have more participation in economic activities, Concepcion said, which can help the tourism sector, including the tourist guides and souvenir shops. Other vacation spendings he cited are airfare, food and

accommodation. “We are in favor of lowering down the alert level but cognizant of the fact that Covid is still around,” PCCI President George Barcelon said in a recent event. He also stressed the need to put in place health protocols to avoid surge in cases. The National Capital Region and most parts of the country are under Alert Level 2 until the end of February.

A4 Wednesday, February 23, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

PHL generates initial $23.6-M export sales in Gulfood 2022 By Roderick L. Abad

Contributor

@rodrik_28

HE Philippines has generated a running total of $23,634,500 in export sales in the first four days of participation in the Gulf Food Hotel and Equipment Exhibition Salon Culinaire (Gulfood) held recently at the Sheikh Rashid Hall, Dubai World Trade Centre in the United Arab Emirates (UAE). Thirty-nine local food export companies showcased the country’s finest tropical food selections, top Halal-certified food products, and unique local flavors in the expo that ran from February 13 to 17. The Philippine delegation is still expecting to make more sales given that there will also be an online networking event for Gulfood Digital participants from March 1 to 3 to connect Filipino exporters to prospective buyers. Led by the Department of Trade and Industry (DTI) through the Center for International Trade Expositions and Missions (Citem), the 2022 delegation marks the country’s 17th participation at Gulfood and

is the biggest group that has joined so far. “Gulfood has always been a strategic platform for the Philippines and our companies to showcase our premium Halal exports to the world. This year’s participation in Gulfood is a testament to our commitment to export more halal-certified products to the world as our companies and institutions continue to develop more products and seek new ways to reach Halal consumers worldwide,” said DTI Undersecretary Abdulgani Macatoman. Gulfood 2022 is among the biggest food and hospitality industry expos internationally. It provides buyers and exhibitors an opportunity to strengthen their presence and foothold in the Middle East and African (MEA) region. The country’s participation leveraged on this. Data from the Philippine Trade Investment Center (PTIC) in Dubai indicate that highquality fruits such as mango, pineapple, coconut, and other fruits and plant-based products constantly enjoy high demand and meet Halal production standards in the MEA region. “The Philippines is a great sourcing destination for food products because of its diverse agricultural landscapes and rich gastronomy. Especially with this pandemic, the demand for healthy and halalcertified food products is high, and the country is poised to be a leader in this category,” noted Citem Executive Director Pauline Sauco-Juan. The Philippine Pavilion at the event featured a hybrid setup of product displays with food tasting areas and meeting spaces, and interactive kiosks with QR codes providing more information about the exhibitors.

The 2022 cohort also benefited from Citem’s updated content and lead generation platforms for the local food industry, IFEXConnect.com and FOODPhilippines.com, which provide a seamless sourcing experience for buyers and exhibitors all year-round. While all the 39 exhibitors got to showcase their products online, nine companies were able to exhibit onsite in Dubai. “Our promotion of Philippine food to UAE and other countries does not end with our participation in Gulfood,” Sauco- Juan said, while citing that they are constantly promoting the country’s export products 24/7 anywhere through these portals. “These web sites allow us to widen our reach and strengthen our engagement across the globe. Buyers and food enthusiasts who want to know more about Philippine food are welcome to check out our platforms,” she added. The Philippine delegation was comprised of Agrinurture Inc., Brandexports Philippines Inc./8VX Corp., Business Innovations Gateway Inc., Century Pacific Food Inc., CJ Uniworld Corp., Federation of People’s Sustainable Development Corp., Fenor Foods Corp., Fisher Farms Inc., Fruits of Life Inc., Gem Foods International Inc., Greenlife Coconut Products Philippines Inc., Innovative Packaging Industry Corp., Janicahh Food Products, JNRM Corp., KLT Fruits Inc., Krystle Exports Philippines Inc., Limketkai Manufacturing Corp., MagicMelt Food Inc., Marikina Food Corp., Market Reach International Resources, Mega Global Corp., Miguelitos International Corp., Pasciolco Agriventures, Peter Paul Philippines, Philippine Grocers Food Exports Inc., Q-Phil International Trading, Sabroso Chocolate Manufacturing, SandPiper Spices and Condiments Corp., SL Agritech Corp., Unilab Inc. /Sekaya Global, Universal Canning Inc., Cocoturmeric Health Products, KF Nutri Foods International Inc., AG Pacific Nutriceuticals Corp., Nutrarich Nutraceutical Innovations, Ahya Coco Organic Food Manufacturing, Gacayan General Merchandise, PMTZ Care Marketing, and Malagos Agri-Ventures Corp.

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Duterte admin told: Resolve issues raised by EC on farmers and IPs By Jasper Emmanuel Y. Arcalas @jearcalas

HE Federation of Free Farmers (FFF) on Tuesday urged the Duterte administration to resolve longstanding problems of peasant farmers and indigenous people as the government faces scrutiny of its alleged human rights violations in relation to its GSP+ perks to the EU. In a news statement, FFF said the government must address “squarely real, ground-level problems” of Filipino peasant farmers, indigenous people and workers instead of “dismissing” them as “the handiwork of social agitators and political oppositionists.” “This is the best way to counter persistent reports about violations of human rights, labor standards and other core international conventions which the Philippines has signed,” FFF board chairman Leonardo Q. Montemayor said. The FFF issued the statement after the European Parliament called on the European Commission last February 17 “to set clear, public, time-bound benchmarks for the Philippines to comply with its human rights obligations” under the GSP+. The FFF noted that over 60 lumads have been killed and thousands have been displaced after allegedly “resisting forcible takeovers by vested interests of their ancestral or settled lands during the past six years.” Montemayor disclosed that followups made by FFF regarding the issue have either been ignored or remain unresolved by concerned national and local government offices. “Hence, we will be constrained to submit documented cases to the EC monitoring mission arriving in the Philippines on February 28. Tribal chiefs, bishops, NGO leaders and ordinary citizens will engage with the EC,” Montemayor said. Montemayor told the BusinessMirror that they are now trying to arrange a possible dialogue with the EC monitoring

mission either through a physical or virtual meeting, whichever would be more convenient to the concerned parties. “We think there is not much of an improvement over the previous years regarding the welfare of the Indigenous People,” he said. Montemayor said it was “hard to say” if the recent action by the European Parliament is “political” as claimed by certain quarters, since the monitoring mission coincides with the Philippines’s election year. The Department of Trade and Industry (DTI) earlier pronounced that it is optimistic that the Philippines will retain its market access and trade incentives with the European Union (EU) despite the economic bloc’s recent resolution concerning the country’s human rights situation, a factor that may potentially affect their trading relationship. Trade Secretary Ramon Lopez told reporters over the weekend they are “confident” the Philippines will not lose its special incentive trade arrangement or the Generalized System of Preferences Plus (GSP+) with the EU. “We provide the data. And policies and programs that ensure there’s compliance with the protocols and rules of engagement,” Lopez said. The GSP+ provides zero duties on 6,274 products or 66 percent of all EU tariff lines. Among the local products where tariffs are eliminated upon entering the EU are tuna, pineapple, bicycles, textiles and garments and footwear. The DTI chief stressed that the Philippines has a dialogue mechanism with the EU to address issues and concerns that can impact their trading partnership. Lopez said the country has been cooperating with the EU and addressing “repeatedly” such concerns via dialogue mechanisms. In fact, he said, the country is compliant with the 27 international core conventions on human rights, labor, environment and good governance.

Group seeks talks with BFAR on plight of small fishermen By Jonathan L. Mayuga @jonlmayuga

HE Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) is seeking an audience with Bureau of Fisheries and Aquatic Resources (BFAR) to discuss the situation of small fishermen in the country. The group wants to present the current predicaments of small fishermen under the existing laws and the impact of the series of oil price hikes, hoping to get the BFAR on its side in pushing for policy reforms in favor of the sector, considered among “the poorest of the poor” in the Philippines. The group, in a letter to BFAR Director Eduardo Gongona, wants to discuss the “ills” of Republic Act 10654, otherwise known as the Amended Fisheries Code, and how it has added burden to small fishers in Manila Bay and Laguna de Bay, particularly the hefty fines and unjust fishing restrictions the government imposes. The Fisheries Code’s “zoning ordinance provision limits small fisherfolk to their narrow respective municipal waters,” Ronnel Arambulo, Pamalakaya national spokesperson said in a news statement. “Aren’t seas and all the bodies of waters for communal use? This fisheries law which exists for more than 20 years now has restricted municipal fishers from making use of our vast fisheries and marine resources in the guise of conservation and management,” Arambulo said. In Laguna de Bay, the Maritime In-

dustry Authority (Marina) is imposing fines and penalties amounting to P2,500 and confiscation of fish catch and gears to every fisherman caught to be exceeding within their designated 15-kilometer municipal waters. “Fisheries Code’s zoning ordinance provision is illogical and unfair as small fishers who use traditional and backward fishing methods are incapable of noticing if they are already crossing beyond their municipal waters. Furthermore, it narrows down the fishing grounds which are supposed to be common for all,” Arambulo added. Pamalakaya said, “While the Fisheries Code is austere against small fishers who don’t engage in any illegal and destructive method of fishing, it is soft to large-scale vessels that engage in illegal and destructive fishing practices.” “While the law strictly regulates small fishers within their respective municipal waters, big-fishing vessels can conduct their large-scale and even destructive fishing operations in any part of the seas. This fishing law brazenly criminalizes our traditional and backward methods of fishing while turning a blind eye to big-fish exploiters of marine and aquatic resources,” Arambulo said. The fishers will also seek fuel subsidies and government aid amid the continuing increases in oil prices. Pamalakaya said they “expect BFAR to come up with concrete solutions and commitment on the concerns of small fisherfolk during the proposed dialogue.”

Libiran quits DOTr post,citing personal reasons

EPARTMENT of Transportation (DOTr) Assistant Secretary for Communication Goddes Hope O. Libiran has tendered her resignation, citing personal reasons, ending her almost six-year term with the agency. In her letter to Transportation Secretary Arthur P. Tugade, Libiran said she is bowing out of her post, as she wants to “focus on the health and well-being” of her family. Libiran’s whole family contacted Covid-19 recently.

“I am resigning at this time when I believe that throughout the almost six years we have been together, I have given my best and my all to you and the entire DOTr,” Libiran’s letter to Tugade read. Tugade thanked Libiran for her “commitment, perseverance, and significant contribution to the department” during her stint. Libiran clarified, however, that she quit not to campaign for any politician, highlighting that she wants to focus on her family. Lorenz S. Marasigan

www.businessmirror.com.ph

News

A5 BusinessMirror Wednesday, February 23, 2022

Police and NBI to share info on probe into case of missing ‘sabungeros’ By Rene Acosta @reneacostaBM

HE Philippine National Police (PNP) will cooperate with the National Bureau of Investigation (NBI) in the ongoing probe into the disappearance of cockfight aficionados through information sharing. “We already have the accounts of witnesses and other pieces of evidence which can aid in the probe. [Upon their] request, then we will gladly share notes,” said PNP chief General Dionardo Carlos on Tuesday. “We see this as a welcome development to work hand-in-hand in resolving these cases,” he added. Justice Secretary Menardo Guevarra following the request of the relatives of the victims ordered the

NBI’s investigation of the missing cockfight aficionados. There is also a move in the Senate to probe the cases. The PNP assured the families of the victims that it is exhausting all efforts to locate the missing persons and arrest those who are behind their disappearance. It said there are still some vital information that are yet to be extracted from the “concerned cockpit management” where the missing persons were last seen. “We will be transparent with the case update and all evidence on hand,” Carlos said. At least 29 sabungeros have already disappeared, and the CIDG has initially attributed the cases to cockfight cheating by way of

game fixing. Most of the victims have played in cockfighting sessions in Batangas, Laguna and Sta. Ana, Manila that were beamed online by WPC Pitmaster, which is owned by online cockfighting operator Charlie “Atong” Ang. Criminal Investigation and Detection Group (CIDG) Director Major General Albert Ignatius Ferro said earlier he had met with Ang in connection with the cases of the missing sabungeros, since most of the victims played for Ang’s WPC Pitmaster. He said he talked with Ang as part of their investigation and to secure footage of surveillance cameras that showed the victims entering or even leaving cockpit arenas owned by Ang.

PNP chief says crashed chopper flew to Balesin to ferry him to QC

HILIPPINE National Police (PNP) chief General Dionardo Carlos admitted on Tuesday he was in Balesin Island for “private time” and he had asked for a police helicopter to ferry him back to Camp Crame so he could attend to his official duties. “Over the weekend, I attended the PMA [Philippine Military Academy] Alumni Homecoming at PMA, Baguio City and returned to Crame, QC Saturday afternoon,” he said in a news statement. “The following day, Sunday afternoon I traveled to Balesin Island for private time and scheduled to return

Monday morning via private transport. However, I was informed that due to unforeseen circumstances, said private transport would only be available in the evening of Monday,” he added. Carlos said he had to attend to his official work Monday morning and this had forced him to ask for an administrative flight. “This prompted me to request for an admin flight to transfer/move me back to Camp Crame Monday morning so I can perform my duties. The flight directive was allowed and issued following PNP rules and regulations,” he said.

The aircraft that was sent to pick him up, an Airbus H125 helicopter of thepolice,crashedonMondaymorning in Real, Quezon, killing one of its three crew members, Pat. Allen Noel Ona. The chopper’s pilot, Lt. Col. Dexter Vitug, and co-pilot, Lt. Col. Michael Melloria, are still undergoing treatment in a private hospital in Quezon. The PNP chief felt sorry for the mishap, which cost the life of Ona. “I regret that the accident happened and never wish harm to my personnel nor losses to the organization. Rest assured that a thorough investigation is being undertaken,” he said. Rene Acosta

Tarlac congressman Charlie Cojuangco passes away at 58

ARLAC Rep. Carlos “Charlie” Cojuangco has died at 58, his wife China Jocson-Cojuangco confirmed on Tuesday. “It is with a heavy heart that we regret to inform you that my husband, Claudia and Jaime’s father, Carlos ‘Charlie’ Cojuangco, has passed away,” Jocson-Cojuangco wrote in a Facebook post. No other details were provided as of this writing. The lawmaker was the youngest son of the late business tycoon Eduardo “Danding” Cojuangco.

On October 26, 2021, Rep. Cojuangco suffered an aneurysm in the middle of a circuit race. Lawmakers in the House of Representatives are mourning the death of Cojuangco. “We are deeply saddened to learn of the passing of our dear colleague, Tarlac 1st District Rep. Carlos ‘Charlie’ Cojuangco,” Speaker Lord Allan Velasco said in a news statement. “The House of Representatives mourns the loss of one of its eminent political party leaders. His untimely demise leaves a void in

the Nationalist People’s Coalition and the entire House supermajority coalition. We have lost a leader and a friend,” he added. “May he rest in peace, and may his family find comfort during this difficult time. He will be greatly missed.” House Committee on Creative Industry and Performing Arts Chairman Christopher de Venecia said Cojuangco was a staunch supporter of the creatives sector and of sectors immediately impacted by economic growth.

Jovee Marie N. Dela Cruz

Lacson eyes investments for farmers’ solar-powered irrigation hubs By Butch Fernandez

@butchfBM

EN. Panfilo Lacson affirmed Tuesday a commitment to invest in a countrywide installation of solar-powered irrigation to boost farmer’s harvest, if elected president in the upcoming national elections. During a dialogue with farmers at a recent campaign sortie with his vice presidential running mate, Senate President Vicente Sotto III, Lacson assured Filipino farmers can count on “a wider state-funded program that would install solar-powered irrigation systems” (SPIS) on their paddy fields and plantations soon as their tandem is installed in office. Lacson shared his administration’s agenda with farm leaders and agricultural workers in Santa Rosa, Nueva Ecija where he and Senate President Vicente Sotto III were asked how their administration would address their problems on irrigation. In reply, the presidential aspirant attested to the benefits of SPIS, assuring that he already tried and

tested the technology himself in his small 2-hectare farm in Imus, Cavite, where Lacson grows crops like tomatoes, calamansi and lettuce during his break from lawmaking duties. Sharing details on his farm-fixing duty sideline when Congress is not in session, Lacson recalled: “I put a solar-powered water pump; the pump was good, you know. There was a good water supply underneath. The problem was electricity. So, I placed solar panels, just a few— about 12 panels, I think—which cost around P650,000.” The senator recalled that when their barangay chairman found out about it, he immediately got interested about the possibility of expanding it across their neighborhood, which gave Lacson the idea of adding it to his overall campaign agenda for the benefit of small-scale farmers. Noting that the government already has a similar program under the National Irrigation Administration (NIA), Lacson added senatorial aspirant Emmanuel Piñol likewise informed him that the Department

of Agriculture (DA) was likewise developing and implementing its own SPIS projects. “That is a good alternative,” the senator agreed, “because if we really cannot afford to build dams for the irrigation of lands then this is the best substitute—solarpowered irrigation.” At the same time, Lacson aired confidence he would deliver on this commitment as he could rely on the support of his potential partners in the private sector like Ramon Ang of San Miguel Corporation who, he said, was equally enthusiastic about the technology, even as Mr. Ang “has a slightly different vision.” “He [Ang] said we have a lot of lakes, we have so many rivers… We can source water from there—it’s just, you know, a matter of applying the right technology—so we can use it for irrigation,” Lacson said, adding “so, if we really are going to think about it and get more creative, we can solve our problems in agriculture. We should not be importdriven. Perhaps we can become more export-oriented.”

BusinessMirror

Wednesday, February 23, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

8 STONE BUSINESS OUTSOURCING OPC 5-10/f Tower 1, Pitx Kennedy Road, Tambo, City Of Parañaque

GIAN LIE JUN Customer Service Representative Mandarin Speaking 1.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin Speaking.

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs. Salary Range: Php 30,000 - Php 59,999

11.

Brief Job Description: Develop, lead and follow-up a business plan for the country; foster an environment that supports the company values, while at the same time benefits from diversity

NGUYEN THI NHU QUYNH Hr Assistant II

LU, WEI Chief Financial Officer

Basic Qualification: Fluency in Vietnamese language Salary Range: Php 30,000 - Php 59,999

12.

ANDES CONSULTING ADVISORY INC. 35/f Tower 1 The Enterprise Center, 6766 Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati LIN, PEI-LING Mandarin Speaking Financial Consultant 3.

Brief Job Description: Execute assigned business projects according to client’s requirements.

SYED, ASIM SALMAN Associate Vice President For International Operations

Brief Job Description: Oversee, monitor, and drive daily all areas of performance metrics (call handling times, service levels, productivity, quality, VOC, NPS, customer effort, and related / applicable areas of customer experience) in the organization to assure that standards are met and sustained across the board in the delivery of service to our clients.

Salary Range: Php 30,000 - Php 59,999 FOO BOON KIAT Procurement Manager For CBG Project 13.

Basic Qualification: College degree in any field. At least 10 years of experience in a BPO setting with 5 years in a senior leadership role; with healthcare background.

Brief Job Description: Provides overall direction, coordination, and evaluation of direct reports

Brief Job Description: 1. In charge with end to end procurement process and management according to company’s procurement strategy. 2. Negotiate with supplier for the terms and responsibility matrix.

ZHOU, ZIFENG Supervision Director 14.

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

Brief Job Description: 1. To optimize the quality & operation organization and mechanism, and to supervise the implementation and progress of the business. 2. In charge of Supervision for business.

CONCENTRIX DAKSH SERVICES PHILIPPINES CORPORATION Bldg. F, Ayalaland, Technohub, Quezon City DIXIT, ALOK Senior Director, Service Delivery 6.

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

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

VERRELST, SAM GREET D. Business Development Manager 7.

Brief Job Description: Define and propose an overall commercial/business strategy for area/business unit

ZHANG, ANLIN Chinese Speaking Customer Service Representative 8.

Brief Job Description: Assist/help customers, give customer information about product and services

YANG, CHENG-SYU Chinese Customer Service Representative 15.

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

16.

Brief Job Description: To perform and render consultancy services to the company in relation to large scale construction projects, infrastructure, power and energy. With the duty to provide relevant information and strategies to guide the company’s operations and transactions.

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

G&G COMMUNITY SOLUTION INC. 3/f Suite 301 #47 Aguirre Avenue Cor., Tirona Street, B. F. Homes, City Of Parañaque AN, MINSEOB Korean Customer Service Representative 10.

Brief Job Description: Provide accurate valid and complete information by using the right methods.

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

XU, QIANG Mandarin Human Resources Supervisor & Treasurer

Basic Qualification: Over 15 years of experience with large scale construction projects, infrastructure, power and energy.

Basic Qualification: Excellent oral and written communications in Korean language. Salary Range: Php 30,000 - Php 59,999

GLAXOSMITHKLINE PHILIPPINES, INC. 23rd Flr. The Finance Centre 26th St. Cor. 9th Ave., Bonifacio Global City, Fort Bonifacio, City Of Taguig

Basic Qualification: 1. Has expertise in procurement process, evaluation requirement and policy, etc. 2. Has a good experience in supplier management, business negotiation, project management and trouble shooting. 3. Must be a Certified Professional Purchasing Manager. 4. Highly proficient in Chinese and English language.

Basic Qualification: 1. Minimum of 7 years overseas experience as a Senior Manager or General Manager for a telecom company. 2. With comprehensive experience in supervision of business objective and compliance. 3. With skills in internal auditing. 4. With a vast experience in telecom field operation. 5. Highly proficient in Chinese and English language

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

MINDRAY MEDICAL INTERNATIONAL PHILIPPINES, INC. 14th Floor, Ore Central Tower, 31st Street Corner 9th Avenue, Bonifacio Global City, Fort Bonifacio, City Of Taguig

FIRST BALFOUR INC. Km 19, West Service Rd., Marcelo Green Village, City Of Parañaque DICK, PHILIP STEPHEN Consultant

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

TRAN THI THU TRAN Vietnamese Customer Service Representative

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

Basic Qualification: With at least 6 months customer service experience/Good in oral communication and written

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JIU ZHOU TECHNOLOGIES INTERNATIONAL, INC. U-3401 34/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

Basic Qualification: Graduate of a master/ bachelor degree. Minimum of 12 years of relevant working experience

DYNAMIC STUDIO TECHNOLOGY INC. 5th To 10th/f Platinum Tower Building, Aseana Ave. Cor. Fuentes Street, Baclaran, City Of Parañaque

Basic Qualification: 1. Has overseas experience as a CFO from a multinational company. 2. Has extensive experience in financial and budget management. 3. Has attended trainings in Contract negotiations/ sign/estimation, procurement internal control, enterprise internal control and budget/finance management/Risk control. 4. Must have a Bachelor’s Degree in Finance, Economics or any other related courses. 5. Highly proficient in Chinese and English language.

Salary Range: Php 500,000 and above

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

DREDGING INTERNATIONAL N.V. U-4048 40/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

Salary Range: Php 500,000 and above

20.

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

Basic Qualification: College degree with 15 years work experience

Basic Qualification: Solid experience of global, regional senior brand, marketing leadership and major commercial; business unit operation with P&L responsibility

No.

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

COMMUNICATION AND RENEWABLE ENERGY INFRASTRUCTURE CREI PHILS INC. Unit A, 7th Flr., Clipp Center 11th Ave. Cor. 39th St. Bonifacio Global City, Fort Bonifacio, City Of Taguig EL HAKIM, KADRI SAMI General Manager

Brief Job Description: 1. Responsible for strengthening the operation and management mechanism of operator BG in the region, including the design and management of financial performance. 2. Managed operator BG’s key financial indicators, including revenue, service cost, expense, sales gross margin, contribution margin, operational asset efficiency.

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

BETAINE (PH) B.V - PHILIPPINE BRANCH 11th-21st Flr., Zeta Tower Bridgetowne Ext. E Rodriguez Jr. Ave. Ortigas, 3, Ugong Norte, Quezon City

QUALIFICATION AND SALARY RANGE

HUAWEI TECHNOLOGIES PHILS. INC. U-5302, 53/f Pbcom Tower, 6795 Ayala Ave., Cor., V.a. Rufino St., Bel-air, City Of Makati

AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex, Harbour Drive Cor. Bay Shore, Brgy. 076, Pasay City

Brief Job Description: 1. Maintains human resources records of Vietnamese employees, including accurately inputting employee data. 2. tracks and reports record changes to Vietnamese authorities. 3. Assists Vietnamese employees by explaining benefits programs and guide them to comply with legal requirements. 4. Provides information by answering communications, referring special communications to appropriate person

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION SEO, SOYOUNG General Manager

www.businessmirror.com.ph

17.

Brief Job Description: The mandarin human resources supervisor & treasurer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goals.

Basic Qualification: Proven experience as Mandarin Human Resources Supervisor & Treasurer, familiarity, knowledge and awareness on importation, exportation, marketing use by company, demonstrable experience in developing strategic business plan.

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18.

LIU, ZHONGYUAN Mandarin Director Brief Job Description: Developing company objectives

32.

19.

Brief Job Description: Managing incoming calls and customer service inquiries

Basic Qualification: Able to speak, Read, and Write Chinese language Salary Range: Php 30,000 - Php 59,999

LUO, ZHENGJUN Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries TAN BOON PING Chinese Customer Service Brief Job Description: Managing incoming calls and customer service inquiries TRAN THI LAN Chinese Customer Service Brief Job Description: Managing Incoming calls and customer service inquiries TRINH MINH HA Chinese Customer Service Brief Job Description: Managing Incoming calls and customer service inquiries VO PHUOC DUC Chinese Customer Service Brief Job Description: Managing Incoming calls and customer service inquiries VO TRONG PHUONG Chinese Customer Service Brief Job Description: Managing Incoming calls and customer service inquiries VU THI NGUYET QUE Chinese Customer Service Brief Job Description: Managing Incoming calls and customer service inquiries WAI YAN TUN Chinese Customer Service Brief Job Description: Managing Incoming calls and customer service inquiries WU, CHEN-YEN Chinese Customer Service Brief Job Description: Managing Incoming calls and customer service inquiries WU, CHENGXIAO Chinese Customer Service Brief Job Description: Managing Incoming calls and customer service inquiries YAN TECK WANG Chinese Customer Service Brief Job Description: Managing Incoming calls and customer service inquiries

Basic Qualification: Able to speak, Read, and Write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Responsible coordinating and managing Japanese language training program.

Basic Qualification: Possess excellent communications skills for Japanese language. Salary Range: Php 30,000 - Php 59,999

MPOTECH DIGITAL SYSTEM INC. 2/f 331 Bldg., Sen. Gil Puyat Ave., Bel-air, City Of Makati AGUSTINO Indonesian Customer Service Representative 33.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems ARBIE Indonesian Customer Service Representative

34.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems ERNAWATY Indonesian Customer Service Representative

35.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems HENDRA Indonesian Customer Service Representative

36.

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City CHEN, JUNHAO Chinese Customer Service

Brief Job Description: Managing incoming calls and customer service inquiries

MOMOTA, MIKA Japanese Language Program Coordinator

Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 150,000 - Php 499,999

GUO, XINNAN Chinese Customer Service

QUALIFICATION AND SALARY RANGE

MOMOTA LANGUAGE AND SKILLS TRAINING INSTITUTE, INC. Unit 705 Globe Telecom Plaza, Pioneer Cor. Madison St., Barangka Ilaya, City Of Mandaluyong

Salary Range: Php 30,000 - Php 59,999 MINDSCAPE CREATIVES INC. Unit 19-o, Burgundy Corporate Tower, 252 Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

HENDRI Indonesian Customer Service Representative 37.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

Basic Qualification: Graduate of bachelor degree, willing to work in high-pressure environment Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of bachelor degree, willing to work in high-pressure environment Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of bachelor degree, willing to work in high-pressure environment Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of bachelor degree, willing to work in high-pressure environment Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of bachelor degree, willing to work in high-pressure environment Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION HENDRIK CHANDRA Indonesian Customer Service Representative

38.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems MICHAEL LAIMAN Indonesian Customer Service Representative

39.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems SUNARDI GUNAWAN SOLIHIN Indonesian Customer Service Representative

40.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems SUTIN Indonesian Customer Service Representative

41.

Brief Job Description: Provide product/services, information, answer questions and resolve emerging problems

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Graduate of bachelor degree, willing to work in high-pressure environment

No.

PHAM THI HUYEN Customer Service Representative 57.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of bachelor degree, willing to work in high-pressure environment

58.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of bachelor degree, willing to work in high-pressure environment

59.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Graduate of bachelor degree, willing to work in high-pressure environment Salary Range: Php 30,000 - Php 59,999

42.

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

Basic Qualification: Proficient in speaking, reading and writing in other foreign languages

60.

61.

DANG THI THUY TRANG Vietnamese Speaking Customer Service Representative 43.

Brief Job Description: Handle customer complaints, provide appropriate solutions and alternatives w/in the time limits; follow up to ensure resolution

44.

Brief Job Description: works & train in the operation of company’s equipment

63.

Basic Qualification: Must be proficient in reading, writing and speaking in both English and Vietnamese Salary Range: Php 30,000 - Php 59,999

OCEANAGOLD (PHILIPPINES), INC. 2/f Cjv Bldg., 108 Aguirre St., Legaspi Village, San Lorenzo, City Of Makati MAWBEY, SCOTT ALLAN ANDREW Remote Loader Trainer

62.

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

NOVATECH (PASAY) LIMITED, INC. 4th Flr. W Mall Bldg., Diosdado Macapagal Ave. St., Zone 10, Barangay 76, Pasay City

Basic Qualification: experience in relevant field and leadership in task execution Salary Range: Php 500,000 and above

45.

Brief Job Description: provide supervision to the underground mobile maintenance and operation

Basic Qualification: experience in relevant field and leadership in task execution

64.

46.

47.

BIAN, JINXING Customer Service Representative Brief Job Description: Customer support and database services CHEN, JIANLONG Customer Service Representative Brief Job Description: Customer support and database services CUI, ZIJIAN Customer Service Representative

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49.

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52.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

DINH THANH PHI Customer Service Representative Brief Job Description: customer support and data base services

HU, SHA Customer Service Representative Brief Job Description: Customer support and database services

JOVI WILLIAM Customer Service Representative Brief Job Description: customer support and data base services

LIU, JING Customer Service Representative Brief Job Description: Customer support and database services LIU, PENGYI Customer Service Representative

53.

54.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills MA, ZHENGPEI Customer Service Representative Brief Job Description: Customer Support and Data Based Services NGUYEN DINH SAC Customer Service Representative

55.

56.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

PANG, YUEYANG Customer Service Representative Brief Job Description: Customer support and database services

Basic Qualification: Has knowledge in computer applications

65.

66.

67.

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

68.

69.

70.

71.

WANG, ZIHONG Customer Service Representative Brief Job Description: Customer support and database services

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

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

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

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

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

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

72.

73.

74.

DUONG THIEN LOC Mandarin Customer Service Specialist Brief Job Description: Customer service LUONG A SIU Mandarin Customer Service Specialist Brief Job Description: Customer service THACH SOC KHA Mandarin Customer Service Specialist Brief Job Description: Customer service

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

Basic Qualification: Customer support and data base services

No.

Basic Qualification: Has knowledge in computer applications Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has knowledge in computer applications Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

77.

78.

79.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Vietnamese (verbal and written skills) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Vietnamese (Verbal and written skills)

80.

81.

Basic Qualification: Fluent in Vietnamese (Verbal and written skills)

CHA CHIA YEE Mandarin Speaking Account Manager 75.

Brief Job Description: Responsible for driving revenue, and be a point of customer contact in the Asian region

YANG, HUEI-TSZ Mandarin Speaking Account Manager 76.

Brief Job Description: Responsible for driving revenue, and be a point of customer contact in the Asian region

Brief Job Description: Vessel Maintenance Specialist

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

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

YIN, QIANG Mandarin Customer Support Representative 82.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

CHEN, XINGGUI Mandarin Team Leader 83.

Brief Job Description: Maintain and drive program knowledge for self and team

84.

Brief Job Description: Responsible to resolve queries of the malay-customers through email and chats TRAN GIA HUY Vietnam-speaking Customer Service Officer Brief Job Description: Responsible to resolve queries of the malay-customers through email and chats

86.

87.

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

Basic Qualification: Natural fluency in mandarin and has a wide knowledge and expertise in marketing and attracting customers in the Asian market Salary Range: Php 90,000 - Php 149,999 Basic Qualification: Natural fluency in mandarin and has a wide knowledge and expertise in marketing and attracting customers in the Asian market Salary Range: Php 90,000 - Php 149,999

Basic Qualification: Able to speak and write in MANDARIN and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing english and their respective native language for position applied for

Brief Job Description: Provide daily support to users of various computer systems including answering questions, analyzing problems, and quickly forming solutions to return systems to proper operation

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

WELLWAY FINANCE GROUP CORP. G/f Arnaiz Bldg., 816 A Arnaiz Ave., San Lorenzo, City Of Makati

SONG, ZHIFENG Business Development Manager 88.

Brief Job Description: Researching, planning and implementing target market initiatives

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

Basic Qualification: Fluent in Mandarin both oral and written

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

Basic Qualification: Proficient in speaking, reading and writing in english and their respective native language for the position applied for

KO, CHENG-HAN Chinese Technical Support Representative

Basic Qualification: Fluent in Vietnamese (Verbal and written skills)

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

Basic Qualification: Able to speak and write in MANDARIN and at least college level with related BPO experience.

WANFANG TECHNOLOGY MANAGEMENT, INC. U-3501/02 35/f Pbcom Tower, Cor. Ayala Ave. & V.a. Rufino St., Bel-air, City Of Makati

LIN, YU-HUNG Chinese Technical Support Representative

Basic Qualification: Fluent in Mandarin both oral and written

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

DANG KIM OANH Vietnam-speaking Customer Service Officer

Basic Qualification: Fluent in Vietnamese (verbal and written skills)

Basic Qualification: Fluent in Mandarin both oral and written

Basic Qualification: Able to speak and write in MANDARIN and at least college level with related BPO experience.

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor., Washington St., Pio Del Pilar, City Of Makati

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

Basic Qualification: Can speak mandarin

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

Basic Qualification: Able to speak and write in MANDARIN and at least college level with related BPO experience.

URBANDIDEAS INC. Unit 17-m Burgundy Corporate Tower, 252 Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati

85.

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

Basic Qualification: Maintenance Specialist

LIU, ZHIQIANG Mandarin Customer Support Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in Vietnamese (Verbal and written skills)

KO, KYUNGMIN Korean Technical Superintendent

LI, HAILIANG Mandarin Customer Support Representative

Basic Qualification: Customer support and data base services

Basic Qualification: Fluent in Vietnamese (Verbal and written skills)

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

CHEN, ZHIDONG Mandarin Customer Support Representative

Basic Qualification: Has knowledge in computer applications

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

Brief Job Description: Provide support to managers, other employees, and office visitors by handling a variety of task in order to ensure that all interactions between the organization and others are positive and productive.

TRIVES TECHNOLOGY CORPORATION Tower 4 Bayport West, Naia Garden Residence, Naia Road, Tambo, City Of Parañaque

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

Basic Qualification: at least two (2) years of working experience in the related field; fluent in mandarin/Chinese language

TRANS-PACIFIC JOURNEY (TPJ) FISHING CORP. 1094, A., Nbbs Proper, City Of Navotas

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

QUALIFICATION AND SALARY RANGE

WANG, CHAOMING Mandarin Administrative Specialist

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

SUPREME CHENGHAO MANAGEMENT OPC Level 26-a Rufino Pacific Tower, 6784 Ayala Ave., San Lorenzo, City Of Makati

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

SUMMIT SUPPORT SERVICES, INC. Unit 16c 16/f Petron Mega Plaza, 358 Sen. Gil Puyat Ave., Bel-air, City Of Makati

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

QUALIFICATION AND SALARY RANGE

SPEED QUALITY TECH INC. 3/f Eco Plaza Bldg., 2305 Chino Roces Ave. Extn., Magallanes, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

Brief Job Description: Customer support and database services

QUAN HOANG QUYEN Vietnamese Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Has Knowledge in Computer Applications

WANG, ZHANWEI Customer Service Representative

PHAN THANH HA Vietnamese Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

Brief Job Description: Customer support and database services

NGUYEN TUAN VU Vietnamese Customer Service Representative

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

TANG, HAILIANG Customer Service Representative

NGUYEN THUC ANH Vietnamese Customer Service Representative

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

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

MAI THI NGOC ANH Vietnamese Customer Service Representative

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

Brief Job Description: Customer support and database services

LE ANH TU Vietnamese Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

SU, BAICAI Customer Service Representative

LAM LE QUANG TRUONG Vietnamese Customer Service Representative

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

Brief Job Description: Customer support and database services

ESTABLISHMENT / ADDRESS

SOMI UNLIMITED SOLUTIONS, INC. 10/f Tower 2 Double Dragon Plaza Bldg., Edsa Corner Macapagal Ave. St. Zone 10, District 1, Barangay 76, Pasay City

Salary Range: Php 500,000 and above

SA RIVENDELL GLOBAL SUPPORT, INC. 2/f Star Cruises Ce Bldg., Andrews Drive, Newport City St., Barangay 183, Pasay City

SONG, SHUANGLONG Customer Service Representative

ZHANG, XIAOCONG Customer Service Representative

OCEANAGOLD (PHILIPPINES), INC. 2/f Cjv Bldg., 108 Aguirre St., Legaspi Village, San Lorenzo, City Of Makati ROBERTSON, GARY ROBERT UG Mobile Maintenance Supervisor

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

SUI, GUOZHU Customer Service Representative

NEW WEATHER FORCES GROUP INC. 26/f The Enterprise Center Tower 2, 6766 Ayala Ave., San Lorenzo, City Of Makati WONG LU JUN Foreign Customer Service Representative

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Wednesday, February 23, 2022

Basic Qualification: Can speak in Chinese language. With two (2) years relevant working experience Salary Range: Php 30,000 - Php 59,999

WIKITECH SERVICES INC. Unit 25d 2/f Zeta Ii Bldg., 191 Salcedo St., San Lorenzo, City Of Makati MIAO, ZHENGFENG Mandarin Marketing Specialist 89.

Brief Job Description: Undertake a market analysis to include details on the market characteristics and competitor characteristics

Basic Qualification: Proficient language skills and skills match to job Salary Range: Php 30,000 - Php 59,999 *Date Generated: Feb 22, 2022

In the ad material of Notice of Filing of Application for Alien Employment Permits published on November 24, 2021, the name of DESIRIA RUTH ASIA under BIGCAT SOFTWARE SOLUTIONS, INC., should have been read as DESIRIA RUTH ASIAN and not as published. In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 10, 2022, the position of NGUYEN LE CAM NHUNG under AMAZON OPERATION SERVICES PHILIPPINES, INC., should have been read as CATALOG SPECIALIST I and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

Editor: Angel R. Calso

Wednesday, February 23, 2022

Putin escalates Ukraine tensions, orders forces to separatist areas T

US personnel in Ukraine depart amid war threats

resident Vladimir Putin announced he’s recognizing two self-proclaimed separatist republics in eastern Ukraine, a dramatic escalation in Russia’s standoff with the West as the US and its allies continue to warn it could soon invade its neighbor. The decrees signed by Putin included an order to send what he called “peacekeeping forces” to the breakaway regions of Donetsk and Luhansk. Russia gave no details so far on how many troops might go in, or when, but Moscow has previously accused Ukraine of having a significant deployment of its own soldiers on the line of contact with the separatists. Ukrainian President Volodymyr Zelenskyy urged calm in a late-night address to the nation, saying Putin has in practice merely “legalized” troops already present in self-proclaimed republics since 2014. He assured his citizens that Ukraine’s borders were safely guarded. “There are no reasons for your sleepless night,” Zelenskyy said. Putin’s latest move generated condemnation from the US, European Union and other nations who spoke at an emergency meeting of the United Nations Security Council on Monday night. President Joe Biden issued an executive order prohibiting US investment, trade, and financing to separatist regions of Ukraine, and a senior administration official said further measures are coming Tuesday including economic sanctions. The US official told reporters the steps are separate from the more severe economic measures the Biden administration has warned it would impose should Putin move forward with an invasion. The official said the White House was still open to a meeting between Biden and Putin—predicated on Russia not proceeding with an attack. But Russia is continuing to prepare for military

China sanctions Raytheon, Lockheed over Taiwan deal

AIPEI, Taiwan—China said Monday it will impose new sanctions on US defense contractors Raytheon Technologies and Lockheed Martin due to their arms sales to Taiwan, stepping up a feud with Washington over security and Beijing’s strategic ambitions. Foreign Ministry spokesperson Wang Wenbin announced the move at a daily press briefing, citing a newly passed Anti-Foreign Sanctions Law that took effect in 2021. It was in response to a $100 million deal approved by the US for maintenance of Taiwan’s missile defense systems by the two companies. “China once again urges the US government and relevant parties to...stop arms sales to Taiwan and sever military ties with Taiwan,” Wang said. “China will continue to take all necessary measures to firmly safeguard its sovereignty and security interests in accordance with the development of the situation,” he said without giving any details. Taiwan is a democratically self-governed island that communist-ruled China claims as its own territory. The two sides split amid civil war in 1949. The US has no formal relations with Taiwan but is its main ally. It has increased weapons sales in recent years, angering China with the sales. US law requires the government to ensure Taiwan can defend itself. AP

action that could occur in the coming hours or days, the official said. “We are committed to finding a diplomatic resolution that avoids a brutal and costly conflict, but diplomacy cannot succeed unless Russia changes course,” the US State Department said in a statement Monday night. The US and its allies have warned that any intervention in Ukraine would prompt swift and severe economic sanctions against Russia, though it’s not certain how far they may go in response to Putin’s decision to recognize the breakaway regions. They have also made clear they would not send troops into Ukraine themselves if Putin attacked. While Russia will argue that Putin’s recognition of the separatist regions gives a legal basis for the presence of its troops, the move will likely fuel US and European concerns that Moscow is moving to take control of territory internationally recognized as part of Ukraine, and would put his forces closer to direct confrontation with Ukrainian soldiers. “We can say the worst hasn’t happened—a major new war hasn’t started, at least for now,” said Andrey Kortunov, head of the Kremlin-founded Russian International Affairs Council. “But after the recognition we’re likely to see Russian troops deployed up to the border with the rest of Ukraine and this will be seen as an act of aggression with all the consequences.”

Equity selloff

Russia’s stocks and the ruble were

Russian President Vladimir Putin speaks during a Security Council meeting in the Kremlin in Moscow, Russia on February 21. Putin has convened top officials to consider recognizing the independence of separatist regions in eastern Ukraine. Such a move would ratchet up tensions with the West amid fears that the Kremlin could launch an invasion of Ukraine imminently. Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP

the worst performers globally on Monday. The ruble weakened to 80 per dollar during Putin’s televised address and stocks slumped as much as 18 percent in evening trading. A global equity selloff extended into Asia on Tuesday, with regional stocks and the US index futures sliding. Shares of Moscow-based United Co Rusal International PJSC in Hong Kong plunged as much as 22 percent, their biggest drop since April 2018. Putin signed aid and cooperation pacts with the separatist leaders at a Kremlin ceremony recognizing their “independence and sovereignty” after a televised address to Russians late Monday. He followed up with a demand that the government in Kyiv stop all military action immediately or bear full responsibility for “the possible continuation of bloodshed.” Still, it’s still unclear what his announcement means for the risk of a large-scale Russian invasion of Ukraine that the US and Nato have warned about for months. They accuse Russia of massing more than 150,000 troops near Ukraine in preparation for a possible attack, something the Kremlin has repeatedly denied. Putin said at a meeting of his Security Council Monday that Russia was not considering the question of annexing the two territories. The decree is the latest move in Putin’s 20-year campaign to restore Russia’s dominance over its former Soviet neighbors and

prevent them forging closer ties with the West, particularly with the North Atlantic Treaty Organization. The Russian leader has railed against Nato’s expansion into the east and raised the stakes in the latest crisis by demanding the military alliance exclude Ukraine from future membership and roll back its forces to positions they held in 1997. The Russian president’s decision to recognize the separatists effectively torpedoes years of diplomatic efforts to implement a peace accord to resolve a conflict that has killed 14,000 since Russia-backed separatists seized control of the two areas in 2014. In his televised address to Russians late Monday, Putin devoted part of his argument to a historical recitation aimed at showing that Russia’s former Soviet neighbors were created by the Bolsheviks and don’t deserve to be considered as genuine independent states. News of the decree drew rebukes from across the EU, including smaller states located in the bloc’s far east. The UK is set to impose sanctions on Russia as soon as Tuesday, and the EU will start the process of agreeing penalties for Putin’s move, diplomats familiar with the conversations said. “I don’t know what is in his mind,” UK Prime Minister Boris Johnson told a Downing Street press conference. “There’s a chance he could row back from this.” Bloomberg News

Saudi Arabia says 16 hurt in airport drone attack launched from Yemen

IYADH, Saudi Arabia— Saudi Arabia’s state-run ne w s a ge nc y s a id 16 people of different nationalities were wounded Monday at an airport in the south as a result of the interception and destruction of a drone carrying explosives launched from Yemen. The Saudi-led coalition that’s battling Yemen’s Houthi rebels was quoted as saying that the bomb-laden drone was targeting King Abdullah Airport in the Saudi city of Jizan, near the border with Yemen. Saudi defense forces allege the drone was launched from Sanaa’s airport in the Yemeni capital. Saudi state TV reported three travelers were in critical condition. It aired a short video clip of the aftermath that showed glass shattered across the floor inside the airport near a Baskin-Robbins ice cream store. The staterun Ekhbariya news channel later showed travelers moving about within Jizan’s airport and reported that flights were back

to operating normally. Saudi Arabia has been involved in Yemen’s civil war since 2015, fighting against the Iranianbacked Houthis who overran the capital of Sanaa and ousted the internationally recognized government from power. Despite seven years of fighting and war, the Houthis remain in control of Sanaa and much of northern Yemen. The attack against Jizan, a region near Saudi Arabia’s border with Yemen, comes on the eve of a patriotic day in the kingdom as the nation prepares to celebrate its first-ever Founding Day. The date, which is different from the traditional national day, is meant to symbolically commemorate the founding and unification of the Saudi state by its Al Saud rulers. Nationwide celebrations have been planned and the king has deemed it a holiday for both the private and public sectors. The incident also comes less than two weeks after a similar attempted drone attack and in-

terception resulted in 12 people wounded at an airport in the southern Saudi region of Abha, also near the kingdom’s border with Yemen. The war in Yemen has killed tens of thousands of people, both fighters and civilians, and spawned the world’s worst humanitarian crisis. Many more have been internally displaced. The United Nations said January’s civilian casualties were the highest in at least three years. More than 650 civilians were killed or injured last month by airstrikes, shelling, small arms fire and other violence. A coalition airstrike hit a detention facility in the Houthi stronghold of Saada in January, killing or injuring more than 300 detainees. Fighting in the strategic city of Marib in past months has led to increased Houthi attacks against Saudi Arabia and the United Arab Emirates, which is part of the Saudi-led coalition and backs Yemeni militias fighting the Houthis. AP

he US evacuated State Department personnel and embassy operations from Ukraine to Poland on Monday, amid fears that security conditions could deteriorate following Russian President Vladimir Putin’s recognition of two separatist regions in the eastern part of the country. “For security reasons, Department of State personnel currently in Lviv will spend the night in Poland,” according to a statement. The US officials are expected to remain at a hotel just over the border though they could return to Ukraine as soon as Tuesday if the State Department determines that the security situation has stabilized, according to multiple US officials who described the move on condition of anonymity. The move of the small contingent of American diplomats still in Ukraine comes after the US had already relocated its embassy from the capital of Kyiv to the western city of Lviv. President Joe Biden warned Friday that US intelligence indicated Russia could launch an assault on the capital city, and the State Department for weeks has encouraged American citizens to depart the country before an outbreak of hostilities. A White House spokesman declined to comment, while Russia has denied it intends to invade Ukraine. Earlier Monday, Putin announced he could deploy “peacekeeping” forces to the breakaway regions. Embassy and consular activities will continue from Poland and the move is not intended to signal any shift in US support for Ukraine, according to two of the US officials. The US alerted high-ranking officials in Ukraine before pulling out its embassy staff, and consulted with allies who also operate dip-

lomatic facilities in the country. Several other countries have moved their embassies and issued travel alerts warning their citizens not to travel to Ukraine, following US assessments that Russia could be planning to invade imminently. There is hope that the move will compel Americans who remain in the country to get out as quickly as possible, one of the officials said. The move underscores concern that Russian military operations in Ukraine may not discriminate between military and civilian targets. The official also said the US was working to offer assistance to Ukranian employees that worked at the embassy, maintaining payroll and offering some workers advances on their salaries.

Last-ditch talks

The flurry of activity and lastminute diplomacy comes as Putin signed a decree Monday officially recognizing two self-proclaimed separatist republics in eastern Ukraine, a move that likely torpedoes European-mediated peace talks and further escalates tensions with the West. Following Putin’s move, Biden issued an executive order saying Russia’s recognition of breakaway regions in Ukraine “contradicts Russia’s commitments under the Minsk agreements and further threatens the peace, stability, sovereignty, and territorial integrity of Ukraine.” The order will allow Biden to issue new sanctions targeting Russian-backed separatists in the region with financial penalties and travel restrictions. A senior administration official said the US would announce additional penalties—likely to include sanctions—on Tuesday. Bloomberg News

EU sanctions Myanmar oil firm for providing resources to junta

he European Union imposed f resh sa nct ions against Myanmar’s military regime, focusing on a lucrative state-owned oil and gas company that has been a key source of revenue for the junta more than a year after the coup. The new listings target 22 individuals including government ministers, as well as high-ranking members of the Myanmar Armed Forces, the European Council said Monday. It also targets four entities, including state-owned companies like Myanma Oil and Gas Enterprise, which were found to provide the regime with “substantive resources.” Myanmar’s oil and gas sector has become a target of international pressure of late as one of the junta’s most important sources of income and foreign exchange given oil products are priced in US dollars. MOGE is the operator and regulator of the oil and gas sector, overseeing exploration and the distribution of petroleum products. It also grants permits and collects tax on profits made by private companies that are in production sharing contracts or joint ventures. “MOGE is thus controlled by and generates revenue for the Tatmadaw, therefore contributing to its capabilities to carry out activities undermining democracy and the rule of law in Myanmar,” the European Union said in an update of its legislation, referring to the armed forces by its official name. The military regime’s spokesman and the Ministry of Electricity and Energy couldn’t be immediately reached for comment.

The sanctions came after TotalEnergies SE and Chevron Corp. last month said they would pull out of Myanmar to protest against the junta’s continued violence against civilians since the military coup. Both these companies have operated in Myanmar for decades in production sharing contracts or joint ventures with MOGE and have come under criticism for engaging in business with military government. “History shows that when the junta was previously in place in the 1990s, gas revenues from Total and Chevron/Unocal helped them to withstand international sanctions as their reserves dwindled,” a group of US seNators advised Treasury Secretary Janet Yellen and Secretary of State Antony Blinken last year in a letter. Japanese trading house Mitsubishi Corp. followed suit last week with plans to sell its stake in a natural gas field in Myanmar. While some companies are leaving, others are planning to step up engagement. Earlier this month, a junta spokesman said PTT Pcl, Thailand’s state-controlled energy company, is bidding to take control of Myanmar’s Yadana gas field with PTT Exploration and Production Pcl offering to acquire the combined 59.5% stake held by TotalEnergies and Chevron. The US has recently targeted Myanmar government officials and businessmen as well as a private logistics company and an army-run procurement agency in sanctions marking one-year since the coup, though it has yet to impose any against MOGE. Bloomberg News

www.businessmirror.com.ph

Ukraine crisis jolts Europe to push for energy security

ADRID—Surging energy prices and fears of a Russian invasion of Ukraine are making European leaders think hard about energy security—particularly their decades-old reliance on Moscow for natural gas. The crisis shows Europe’s vulnerability after years of limited progress in completing an “energy union”—a 2015 vision to allow affordable gas and electricity to flow across borders while diversifying suppliers and reaching climate goals. As renewables like solar and wind are slowly built up and coal and other fossil fuels are phased out, Europe still needs natural gas, and it’s dependent on Russia to get it. That came into sharp relief as Europe’s gas supply dropped and prices soared partly because Russia sold less gas than normal, squeezing households and businesses with rising costs. With gas reserves low and concerns a war could interrupt pipeline flows from Russia, the EU is focused on getting liquefied natural gas, or LNG, by ship from the United States, Qatar, Algeria and elsewhere until renewables catch up. Environmentalists fear making that even a short-term priority could set back Europe’s goals to move away from fossil fuels. Doubling down on renewables would help reduce dependency on Russian gas, EU Energy Commissioner Kadri Simson said Monday, but reiterated that energy security was critical. An advisory group to coordinate the EU’s gas supply security was meeting Tuesday because “it’s important that contingency plans are ready for the worst-case scenario,” she said. The 27-nation EU is “on the safe side for this winter” but doing “everything possible to get rid of this dependency,” European Commission President Ursula Von der Leyen said Saturday at the Munich Security Conference. She accused Russia’s state-owned gas giant Gazprom of “deliberately trying to store and deliver as little as possible while prices and demand are skyrocketing.” Russia has fulfilled long-term contracts but failed to sell additional gas on the spot market, while pushing for German approval of its contentious Nord Stream 2 pipeline as a way to solve Europe’s gas squeeze. Germany has suspended the process to certify the pipeline, Chancellor Olaf Scholz said Tuesday, after Russia recognized the independence of separatist regions in Ukraine in a move that could allow troops to deploy. “We are aware about the low resources of gas in European countries,” Russian Energy Minister Nikolai Shulginov said Tuesday at a forum of gas producers in Qatar, according to a provided English translation. He said long-term gas contracts help curb price volatility and that Russian energy companies are “fully committed” to fulfilling existing agreements. In a conflict, security analysts say Russia would have little interest in a total gas cutoff that would deprive it of revenue and give Europe a further incentive to find other sources of energy. Countries like Lithuania and Poland have managed to reduce Russian gas imports. But Russia accounts for more than one-third of the EU’s supply, and its dominance is entrenched in the Baltic states, Germany, Italy and parts of southeastern Europe. The core issue is that the 27 EU countries retain substantial control over energy policy. Clashing regulations and standards make transport of gas from one country’s system to another difficult, even when the network to do it actually exists. Energy companies moving gas across borders, for example, are sometimes charged tariffs more than once or twice. “Unfortunately, energy interconnection in Europe is an unresolved issue,” Miguel Arias Cañete, former EU energy and climate commissioner who oversaw a proposal for more gas infrastructure, told The Associated Press. “It’s in moments of crisis that we see the need for market integration and enough infrastructure from a security and procurement point of view,” he said, adding that the focus on renewables shouldn’t neglect the role of natural gas. After Russia seized Ukraine’s Crimea region in 2014, diversifying energy supplies to reduce Russian reliance was enshrined in the EU’s 2015 energy union plan. Since then, there has been some significant progress: More two-way pipeline connections have been built and more LNG import terminals are planned. A new pipeline transports gas from Azerbaijan to Western Europe via Turkey and Greece. There’s also a planned pipeline extension from northeast Greece to southern Bulgaria that would relieve Bulgaria’s total dependence on Russian gas. And Greece is moving forward with plans to build a facility to take in LNG imported by sea. But connecting Europe’s energy markets hasn’t been done “sufficiently well,” said energy policy expert Simone Tagliapietra, a senior fellow at the Bruegel think tank in Brussels. In particular, a pipeline connection from Spain to France was shelved, leaving “a major bottleneck that we didn’t manage to solve,” he said. Now, gas industry groups are talking about reviving the idea. Following the Crimea crisis, the priority shifted from energy security to climate change, leading up to the EU’s 2019 Green Deal, a wide-ranging plan to cut emissions. “Energy security disappeared,” Tagliapietra said. “It was all about sustainability, decarbonization. Now we are seeing the great comeback of energy security as an issue in Europe.” The question always seems more urgent among newer, eastern EU members with bitter memories of Russian domination during the Cold War. Poland has been working on pipeline connections with neighboring countries, including the Baltic Pipe, which is set to deliver Norwegian gas to Denmark and others starting in 2023. The country also has built the Swinoujscie LNG port on the Baltic Sea, near the German border. Since 2015, the facility has helped reduce gas imports from Russia via the Yamal pipeline by a third, to less than 60% of its total gas imports. Polish authorities have vowed not to extend the Yamal deal when it expires next year, relying on more LNG from places like the US, Qatar and Australia. But investing billions in more pipelines or import terminals risks them becoming obsolete amid the long-term shift to renewables, Tagliapietra said. Instead, Europe could require gas companies to begin the winter with adequate storage levels, he said. Russia’s Gazprom didn’t fill its underground storage in Europe last summer. “It’s up to them to decide, and that’s not acceptable,” Tagliapietra said. Governments also are talking about creating a strategic reserve of gas, either shared among several countries or organized at the EU level. Energy-consuming countries have done that with crude oil since the 1970s. Environmentalists say the solution isn’t more gas but action to promote renewables. “It is a little bit surreal and surprising,” said Elif Gündüzyeli, fossil fuels policy campaigner for the Climate Action Network. “This approach of adding more gas to the grid to solve the energy supply issue is a little bit like adding another lane to a highway to solve the traffic issue: more cars come in and it gets even more complicated.” “Getting unhooked from Russia and hooked to the US, I don’t think it’s going to solve any of the EU’s energy security issues,” she said. “And it definitely doesn’t solve the climate urgency.” AP

Wednesday, February 23, 2022

‘Unacceptable’: World leaders condemn Russia on Ukraine

OKYO—World leaders scrambled Tuesday to condemn Russian President Vladimir Putin—and to signal possible sanctions—after he ordered his forces into separatist regions of eastern Ukraine.

While Russia’s troop movements were still not clear, leaders in Asia and elsewhere voiced strong support for Ukraine’s sovereignty, along with worries about how a European war could hurt global and local economies and endanger foreign nationals trapped in Ukraine. “Ukraine’s sovereignty and territory must be respected,” South Korean President Moon Jae-in said. “A military clash against the wishes of the international community ... would bring huge ramifications in the politics and economies of not only Europe, but to the whole world.” A conf lict cou ld devastate Ukraine and cause huge economic damage across Europe, which is heavily dependent on Russian energy. But Asian nations are also worried. Moon instructed his officials to prepare for the economic fallout in South Korea if the Ukraine crisis worsens and US-backed nations levy stringent economic sanctions on Russia. South Korea’s Foreign Ministry spokesperson Choi Young-sam said diplomats were trying to persuade 63 of its nationals who currently remain in Ukraine to leave. Hopes are dwindling that a major conflict can be averted. Putin’s directive came hours after he recognized the two Ukrainian separatist regions, setting up Russian military support and antagonizing Western leaders who regard it as a breach of world order. Putin blamed Nato for the current crisis and called the US-led alliance an existential threat to Russia. Some nations publicly signaled a willingness to pursue punishment.

Japanese Prime Minister Fumio Kishida criticized Russia for violating Ukrainian territorial integrity and said his country would discuss possible “severe actions,” including sanctions, with the international community. Putin’s “actions are unacceptable, and we express our strong condemnation,” Kishida told reporters Tuesday. “Japan is watching the development with grave concern.” Japan has a separate territorial dispute with Moscow over four Russian-controlled northern islands taken at the end of World War II. The standoff has prevented the signing of a peace treaty between the two sides. The global condemnation came amid rising skirmishes in the eastern regions of Ukraine that Western powers believe Russia could use as a pretext for an attack on the Europe-facing democracy that has defied Moscow’s attempts to pull it back into its orbit. New Zealand Foreign Minister Nanaia Mahuta said there was no basis under international law for Putin to recognize the Ukrainian separatist regions. “We are concerned that this is a calculated act by President Putin to create a pretext for invasion, which would be a clear act of aggression. We again call for urgent diplomatic efforts to find a peaceful resolution,” Mahuta said in a statement. Austra lian Pr ime Minister Scott Morrison said Russia should “unconditionally withdraw” from Ukrainian territor y and stop threatening its neighbors. Morrison said Russia’s actions were “unacceptable; it’s unprovoked, it’s unwarranted.” “It is important that like-mind-

In this image provided by the United Nations, the UN Security Council meets for an emergency session on Ukraine on February 21, at the UN headquarters. Evan Schneider/United Nations via AP

ed countries who denounce this sort of behavior do stick together, and I can assure you that the moment that other countries put in place strong and severe sanctions on Russia, we will be in lockstep with them and we will be moving just as quickly,” he said. The threat of new sanctions underscores the West’s difficulty in preventing a military conflict that’s long been portrayed as inevitable. Nato-member Turkey, which has close relations to both Ukraine and Russia, criticized Russia’s decision to recognize the independence of the regions in eastern Ukraine. A Turkish Foreign Ministry statement released Tuesday said: “We find this decision by Russia unacceptable and reject it.” US Secretary of State Antony J. Blinken spoke by phone with Ukrainian Foreign Minister Dmytro Kuleba to reaffirm US support for Ukraine. The White House issued an executive order to restrict investment and trade in the separatist regions, and additional measures—likely sanctions—were to be announced Tuesday. Those sanctions are independent of what Washington has prepared in the event of a Russian invasion, according to a senior administration official who briefed reporters on the condition of anonymity. At the United Nations, meanwhile, an emergency meeting of the Security Council on Monday night was called by Ukraine, the

UN expert chides China, Russia for weapons sales to Myanmar

ENE VA—A n i ndependent human rights expert working with the United Nations is criticizing China and Russia for allegedly supplying weapons used by Myanmar’s military against civilians since it seized power last year. Tom Andrews, a special rapporteur working with the UN human rights office, urged countries to halt such sales. He also called on the UN Security Council, where China and Russia are permanent members, to hold an emergency meeting to discuss a possible ban on sales of arms used by Myanmar’s military against civilians. “The people of Myanmar are imploring the UN to act,” Andrews said in a statement Tuesday. “They deserve an up-or-down vote on a Security Council resolution that will stop the sale of weapons being used to kill them.” The findings come in a new report from Andrews on the types

and amounts of weapons used by the military as early as 2018, when it led a bloody crackdown on the Muslim Rohing ya minority that caused hundreds of thousands to flee to neighboring Bangladesh. Andrews’ research described several categories of weapons transfers, with the ones he identified “most problematically” coming from China, Russia and Serbia, because they have been sent since 2018 and continued after the military’s takeover last year. He also cited India for having transferred weapons before the coup, and once afterward, and said three other countries—Belarus, Pakistan and Ukraine—had sent arms before the military takeover but not afterward. He said Israel and South Korea have sent naval vessels to Myanmar since 2018 that could be used against civilians, but have since committed to no longer sending weapons. Andrews, a former US congress-

man, said a resolution passed by the UN General Assembly in June has failed to have “any discernable impact” on the ability of Myanmar’s military to attack civilians, who have demonstrated in large numbers against the government despite its deadly suppression of protests. Special rapporteurs work with the UN human rights office in Geneva based on mandates handed out by the UN-backed Human Rights Council, a 47-member body that currently counts both China and Russia as members. Widespread nonviolent protests in Myanmar followed the militar y takeover in Februar y last year that ousted the elected government of Aung San Suu Kyi. An armed resistance grew a f ter peacef u l protests were put down. More than 1,500 civilians have been killed by security forces, according to the Assistance Association for Political Prisoners. AP

US and six other countries. Russia’s UN ambassador said the United States and its Western allies were egging on Ukraine toward “an armed provocation.” Va ssi ly Neben z i a acc u sed Ukraine of sharply increasing shelling in residential areas of the separatist regions over the past weekend as well as in some Russian towns and villages near the border. Ukraine’s UN ambassador demanded that Russia cancel its recognition of the independence of the separatist regions, immediately withdraw its “occupation troops” sent there by Putin and return to negotiations. Sergiy Kyslytsya condemned Putin’s “illegal and illegitimate” decision to recognize the Donetsk and Luhansk regions. China, a traditional ally of Russia, sounded a cautious note, calling for restraint and a diplomatic solution to the crisis. With an estimated 150,000 Russian troops massed on three sides of Ukraine, the US has warned that Moscow has already decided to invade. Still, President Joe Biden and Putin tentatively agreed to a meeting brokered by French President Emmanuel Macron in a last-ditch effort to avoid war. If Russia moves in, the meeting will be off. Ukraine and the West have accused Russia of supporting the separatists with arms and troops, but Moscow has denied that, saying that Russians who fought there were volunteers. AP

Hong Kong orders mandatory Covid-19 tests for all residents

ONG KONG—Hong Kong will test its entire population of 7.5 million people for Covid-19 in March, the city’s leader said Tuesday, as it grapples with its worst outbreak driven by the Omicron variant. The population will be tested three times in March, Hong Kong leader Carrie Lam said. She said testing capacity will be boosted to 1 million a day or more. “Since we have a population of some 7 million people, testing will take about seven days,” she said. Hong Kong has reported about 5,000 new daily infections since Feb. 15, with the number threatening to overwhelm its healthcare system. Since the current surge began at the beginning of the year, the city has recorded nearly 54,000 cases and 145 deaths. The order for citywide testing comes after mainland Chinese authorities dispatched health workers and medical resources last week to help contain the outbreak in the semi-autonomous Chinese city. AP

A10 Wednesday, February 23, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Oil price hikes hit PHL banana exports

he Philippines is a major producer of Cavendish bananas, which it exports to a number of countries including Japan and China. Aside from Cavendish, the country also produces Lakatan and saba/Cardaba. The latter is processed into banana chips and other products for the domestic and export markets. The fruit is mostly grown in the Davao region, Northern Mindanao, SOCCSKSARGEN, and the Autonomous Region in Muslim Mindanao. While the country remains as the world’s second largest exporter of bananas, other banana-exporting countries are currently nipping at the heels of the Philippines. The country’s exports of bananas plunged by 31 percent to a five-year low of $1.123 billion in 2021 (See, “PHL banana exports down 31%, a 5-year low,” in the BusinessMirror, January 31, 2022). Data from the Philippine Statistics Authority showed that the total volume of bananas exported by the Philippines last year reached 2.419 million metric tons, which was 36.46 percent lower than the 3.808 MMT recorded in 2020. Historical PSA data indicated the volume of banana shipments last year was the lowest in the past five years. Aside from logistical problems, local exporters also had to contend with the stiff competition posed by other banana-producing nations like Vietnam and Cambodia. Maintaining their market share is increasingly becoming a tall order for local banana exporters given the steady rise in their production cost, particularly in the last two years. Citing data from the Pilipino Banana Growers and Exporters Association, the Banana Industry Roadmap 2019-2022 prepared by the Department of Agriculture in 2018 indicated that exporters earned a pre-tax income of P41,524 for every 4,000 boxes of Cavendish bananas they export. PBGEA’s computation showed that producers incurred expenses amounting to more than P1.124 million per hectare. Logistical problems, which have been hounding producers not only in the Philippines but also in other countries, have eaten into the profits of exporters. PBGEA Chairman Alberto F. Bacani told this newspaper in April 2021 that shipping costs jumped by 15 to 20 percent from the 2020 quotations (See, “Costs, delays cut PHL banana exporters’ profit,” in the BusinessMirror, April 5, 2021). This has practically given Vietnam and Cambodia an edge over the Philippines given their proximity to the top banana markets in Asia. Rising oil prices are also putting pressure on the cost of fuel and inputs, and this would further cut into the earnings of banana exporters. As the Philippines is an oil-importing country, oil price hikes would mean more expensive fuel for businesses and consumers. Increasing oil prices would further burden producers as a big percentage of bananas are transported by traders using small- to medium-sized vehicles that can enter the narrow roads leading to the farms, which would jack up transportation cost. While the logical consequence of all these developments is an increase in their selling price, local banana producers are being held back by the possibility that this could result in the loss of their market share. Their current selling price is no longer realistic and maintaining it would cause them to incur losses, which would affect Mindanao farmers who rely on bananas for their livelihood. Since 2005

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Disbarment due to extramarital affairs Dennis Gorecho

Kuwentong PEYUPS

xtramarital affairs of lawyers are always very interesting stories during the legal ethics sessions of the Mandatory Continuing Legal Education (MCLE).

Lawyers are required every three years to complete at least 36 hours of continuing legal education activities. The MCLE is required of members of the Integrated Bar of the Philippines (IBP) to ensure that throughout their career, they keep abreast with law and jurisprudence, maintain the ethics of the profession and enhance the standards of the practice of law. Of the 36 hours, at least six hours shall be devoted to legal ethics while the rest involve trial and pretrial skills (4 hours), alternative dispute resolution (5 hours), substantive and procedural laws and jurisprudence (9 hours), legal writing and oral advocacy (4 hours), international law and international conventions (2 hours), and such subjects as may be prescribed by the MCLE Committee (6 hours). Legal ethics establishes the principles and rules of conduct that lawyers shall at all times follow in fulfilling their professional responsibilities and in order to preserve the

dignity of, and respect for, the legal profession. Disciplinary proceedings are means of protecting the administration of justice by requiring those who carry out important function in the judicial system to be competent, honorable and reliable men in whom courts and clients may repose confidence. The primary purposes of disciplinary proceedings are to protect the public, to foster public confidence in the Bar, to preserve the integrity of the profession, and to deter other lawyers from similar misconduct. Maintaining an illicit relationship can be a ground for disciplinary proceedings against erring lawyers who may be penalized either by suspension or disbarment, depending on the circumstances of the case. In case of suspension, the period would range from one year to indefinite suspension. Disbarment is imposed where the misconduct and unrepentant

demeanor shows a serious flaw in his character, the moral indifference to the sanctity of marriage and marital vows, and the outright defiance of established norms. The conduct complained of must not only be immoral, but must be grossly immoral. In the recent case of Hosoya v. Atty. Contado, (AC No. 10731, October 5, 2021), the Supreme Court disbarred a lawyer who had abandoned his wife and family and cohabited with another with whom he had two children. The Court affirmed the IBP ruling that the lawyer was guilty of immorality as he had children with the complainant despite having a legal wife. The Court noted that the lawyer admitted the fact of his relationship with the complainant, while being married to his wife. A married person’s abandonment of his or her spouse to live with and cohabit with another constitutes gross immorality as it amounts to either adultery or concubinage. In so admitting, he effectively admitted to living a life of deceit and immorality. Disbarment were also imposed by the Supreme Court on several cases as the conduct put the legal profession in disrepute and place the integrity of the administration of justice in peril. In Toledo v. Toledo (117 Phil. 768), the lawyer abandoned his lawful wife and cohabited with another woman who had borne him a child. In Obusan v. Obusan Jr. (213 Phil.

437), the lawyer had abandoned the wife and maintained an adulterous relationship with a married woman. In Cojuangco Jr. v. Palma (481 Phil. 646), the lawyer abandoned his lawful wife and three children, lured an innocent woman into marrying him and misrepresented himself as a “bachelor” so he could contract marriage in a foreign land. In Dantes v. Dantes, (482 Phil. 64) the lawyer maintained illicit relationships with two different women during the subsistence of his marriage to his legal wife. In Villatuya v. Tabalingcos, (676 SCRA 37), the lawyer entered into marriage twice while his first marriage was still subsisting. The Court declared that he exhibited a deplorable lack of that degree of morality required of him as a member of the Bar. He made a mockery of marriage, a sacred institution demanding respect and dignity. Extramarital affairs of lawyers are regarded as offensive to the sanctity of marriage, the family, and the community that blemish their ethics and morality. Possession of good moral character is both a condition precedent and a continuing requirement to warrant admission to the Bar and to retain membership in the legal profession. Peyups is the moniker of University of the Philippines. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 09175025808 or 09088665786.

Leveraging non-traditional data for Covid-19 recovery By Dr. Selva Ramachandran

ata is now recognized as “the new oil” for the digital economy. While development actors have relied on traditional data sources, such as public surveys and government administrative data, there is great potential to harness the value of unconventional or non-traditional data from the private sector, which can help fuel a more nimble, agile, and inclusive governance.

Private companies routinely collect, analyze, and use large volumes of data to derive actionable insights and inform business strategies. The ability and pace at which this data is harnessed with the aid of data science, analytics, and artificial intelligence tools has allowed businesses to successfully navigate through several forms of crisis, including the Covid-19 pandemic. In this dynamic and uncertain environment, the importance of high-frequency, timely, and granular data to inform decisionmaking has become invaluable. Can we harness the power of data for the public good? Can we bridge the data gap to give governments access to data, insights, and tools that can inform their response and recovery strategies? There is increasing recognition that

traditional and non-traditional data should be seen as complementary. Non-traditional data can bring significant benefits in bridging existing data gaps but must be calibrated against benchmarks based on established traditional data. These traditional datasets are widely seen as reliable being subject to established stringent international and national standards. However, they are often limited in frequency and granularity, especially in low- and middle-income countries. Meanwhile, non-traditional data such as market research routinely collected monthly from nationwide household surveys may only be specific to certain products and brands, but can provide more frequent and granular information, with disaggregation by geographical area, socioeconomic group of households,

We have only begun to open the door to a parallel world of nontraditional data that has existed alongside us for decades now. Data is inherently political and maximizing its positive impacts for society will require a concerted effort from all stakeholders to shape the ways in which data is accessed, analyzed, and used beyond the confines of their “for-profit” origins.

gender, and other attributes. Data collected from mobile devices, Internet platforms, and satellite images are available in real-time and offer high granularity in location. UNDP, with support from The Rockefeller Foundation and the government of Japan, set up the Pintig Lab: a multidisciplinary network of data scientists, economists, epidemiologists, mathematicians, and political scientists, tasked with supporting data-driven crisis response and development strategies. In 2021, the Lab conducted a study on how data on household spending

on consumer-packaged goods can be used to assess the socioeconomic impact of Covid-19 and identify heterogeneities in the pace of recovery across Philippine households. The National Economic and Development Authority is incorporating this data for GDP forecasting, as additional input to their predictive models for consumption. Further, this data can be combined with credit card or mobile wallet transactions, and machine learning techniques for higher-frequency GDP nowcasting, to allow for nimble and responsive economic policies that can absorb and anticipate the shocks of crisis. Non-traditional data has the potential to provide insights on the status of vulnerable groups, including the informal sector, which are not fully captured by official statistics. As such, the Department for Information and Communications Technology and UNDP are exploring the use of satellite imagery to identify “last mile” communities and understand their level of connectivity in terms of WiFi, electricity, roads, education, health care, and markets. UNDP has used chatbots on social See “Covid-19,” A11

Opinion BusinessMirror

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Wednesday, February 23, 2022 A11

50 years after Nixon visit, US-China ties as fraught as ever

The Marcos-IMF-WB economy: How do we leave it behind?

Dr. Rene E. Ofreneo

LABOREM EXERCENS

By Ken Moritsugu | The Associated Press

EIJING—At the height of the Cold War, US President Richard Nixon flew into communist China’s center of power for a visit that, over time, would transform US-China relations and China’s position in the world in ways that were unimaginable at the time. The relationship between China and the United States was always going to be a challenge, and after half a century of ups and downs, is more fraught than ever. The Cold War is long over, but on both sides there are fears a new one could be beginning. Despite repeated Chinese disavowals, America worries that the democratic-led world that triumphed over the Soviet Union could be challenged by the authoritarian model of a powerful and still-rising China. “The US-China relationship has always been contentious but one of necessity,” said Oriana Skylar Mastro, a China expert at Stanford University. “Perhaps 50 years ago the reasons were mainly economic. Now they are mainly in the security realm. But the relationship has never—and will never—be easy.” Nixon landed in Beijing on a gray winter morning 50 years ago on Monday. Billboards carried slogans such as “Down with American Imperialism,” part of the upheaval under the Cultural Revolution that banished intellectuals and others to the countryside and subjected many to public humiliation and brutal and even deadly attacks in the name of class struggle. Nixon’s 1972 trip, which included meetings with Chairman Mao Zedong and a visit to the Great Wall, led to the establishment of diplomatic relations in 1979 and the parallel severing of formal ties with Taiwan, which the US had recognized as the government of China after the communists took power in Beijing in 1949. Premier Zhou Enlai’s translator wrote in a memoir that, to the best of his recollection, Nixon said, “This hand stretches out across the Pacific Ocean in friendship” as he shook hands with Zhou at the airport. For both sides, it was a friendship born of circumstances, rather than natural allegiances. China and the Soviet Union, formerly communist allies, had split and even clashed along their border in 1969, and Mao saw the United States as a potential counterbalance to any threat of a Soviet invasion. Nixon was seeking to isolate the Soviet Union and exit a prolonged and bloody Vietnam War that had divided American society. He hoped that China, an ally of communist North Vietnam in its battle with the US-backed South, could play a role in resolving the conflict. The US president put himself “in the position of supplicant to Beijing,” said June Teufel Dreyer, a Chinese politics specialist at the University of Miami. Chinese state media promoted the idea that a “prosperous China would be a peaceful China” and that the country was a huge market for American exports, she said. It would be decades before that happened. First, the US became a huge market for China, propelling the latter’s meteoric rise from an impoverished nation to the world’s

Covid-19. . .

continued from A10

media platforms to rapidly collate information from disadvantaged sectors and small enterprises, to understand how the pandemic has impacted them, and the extent to which the social amelioration programs have worked. These are powerful examples on how non-traditional data can and has shed light on disadvantaged groups previously invisible, allowing for more inclusive programming so that no one gets left behind.

second largest economy. Nixon’s visit was a “pivotal event that ushered in China’s turn outward and subsequent rise globally,” said the University of Chicago’s Dali Yang, the author of numerous books on Chinese politics and economics. Two years after Mao’s death in 1976, new leader Deng Xiaoping ushered in an era of partial economic liberalization, creating a mix of stateled capitalism and single-party rule that has endured to this day. China’s wealth has enabled a major expansion of its military, which the US and its allies see as a threat. The Communist Party says it seeks only to defend its territory. That includes, however, trying to control islands also claimed by Japan in the East China Sea and by Southeast Asian nations in the South China Sea, home to crucial shipping lanes and natural resources. The military has sent a growing number of warplanes on training missions toward Taiwan, a source of friction with the United States. China claims the self-governing island off its east coast as its territory. The US supplies Taiwan with military equipment and warns China against any attempt to take it by force. Still, Nixon’s trip to China was touted afterward as the signature foreign policy achievement of an administration that ended in ignominy with Watergate. Embarking on the process of bringing China back into the international fold was the right move, but the past half-century has yet to put relations on a stable track, said Rana Mitter, professor of Chinese history and modern politics at Oxford University. “The US and China have still failed to work out exactly how they will both fit into a world where they both have a role, but find it increasingly hard to accommodate each other,” he said. Chinese officials and scholars see the Nixon visit as a time when the two countries sought communication and mutual understanding despite their differences. Zhu Feng, the dean of the School of International Studies at Nanjing University, said the same approach is key to overcoming the current impasse. “The commemoration of Nixon’s visit tells us whether we can draw a kind of power from history,” he said. Though his trip to China gave the US leverage in its Cold War rivalry with the Soviet Union, America now faces a new geopolitical landscape — with echoes of the past. The Soviet Union is gone, but the Russian and Chinese leaders, Vladimir Putin and Xi Jinping, are finding common cause as they push back against US pressure over their authoritarian ways. The Vietnam War is over, but America once again finds its society divided, this time over the pandemic response and the last presidential election. Associated Press researcher Yu Bing contributed.

We have only begun to open the door to a parallel world of non-traditional data that has existed alongside us for decades now. Data is inherently political and maximizing its positive impacts for society will require a concerted effort from all stakeholders to shape the ways in which data is accessed, analyzed, and used beyond the confines of their “for-profit” origins. Doing so could unlock the potential for more rapid and inclusive evidencebased interventions for those who need it the most. Dr. Selva Ramachandran is the UNDP Philippines Resident Representative

N a recent article timed for the commemoration of the February 25 Edsa Revolt, President Cory’s finance officers—DOF Secretary Jesus Estanislao and Central Bank Governor Jose Cuisia —claimed that they “undid Marcos economy.” They described the Marcos economy as one characterized by inefficiency and where one had a hard time getting a phone, water from the tap and dollars for travel. But due to the twin programs of “economic liberalization” and “deregulation” since 1986, the consumer horror stories on phone, water and dollars are no more. Accordingly, the economy has been moving forward and upward. They credit such progress to the support extended to the post-Edsa governments by the World Bank, IMF, ADB and other creditor institutions. Hence, their plea: “Let’s not go back.” But have we really left the Marcos economy? What exactly was the nature of the economy in place in the authoritarian decade of the 1970s and the crisis decade of the 1980s? And have we really progressed due to economic liberalization and deregulation? On the last question, Secretary Estanislao and Governor Cuisia should sit down with the leaders of the 100 plus farmer organizations and 200 plus organic-producing municipalities who have succeeded in asking the Senate to defer the ratification decision on the Regional Comprehensive Economic Partnership (RCEP). The farmer leaders and mayors have a different take on economic liberalization and deregulation based on their collective painful experience under the trade liberalization program of the World Trade Organization (WTO), which was ratified by the Senate in 1994. Also, more recently, they saw the horrible impact on rice farmers of the 2019 Rice Tariffication Act, which is essentially a rice trade liberalization program. Overall, it is difficult to find a farmer constituency for economic liberalization and deregulation. Incidentally, the implementation of the twin programs of economic liberalization and deregulation began in 1980-1982, as part of the “structural adjustment program” developed by the IMF and the World Bank for the Philippines and other heavily-indebted countries such as Argentina. The SAP program carried a long list of “policy conditionalities” such as removal of support for domestic industrial and agricultural producers, including “restraint” on the wage increase demand of the workers. The overall SAP thrust was the general opening up of the economy through

trade/investment liberalization, economic deregulation and privatization, and the “chopping off of the visible hand of government.” This free-trade SAP framework became popularly known as the “Washington Consensus,” largely due to the global advocacy for free trade and privatization by US President Ronald Reagan and UK Prime Minister Margaret Thatcher. In the early 1980s, SAP was grudgingly accepted by the beleaguered Marcos regime, which saw the SAP’s adverse impact on Marcos cronies and their businesses. However, the Corazon Aquino administration had no problem accepting and even deepening the SAP’s implementation for, after all, the Marcos cronies were the ones who stood to lose most in the early post-Edsa years. The trouble is that SAP did not only hit the Marcos cronies. It devastated the real or productive sectors of the economy, specifically domestic manufacturing and domestic agriculture. The head of the national industry association, Fred Elizalde, openly complained about the harshness of the SAP’s austerity and interest deregulation programs. DA Secretary Arturo Tanco also expressed deep reservations because the SAP’s “agricultural deregulation” program posed a direct threat to the DA’s “Masagana 99” and other crop production programs. The point is that the economy in the authoritarian decade of the 1970s was a complex one. It is way too easy to say that it was a “Marcos economy” and that the twin programs of economic liberalization and deregulation swept this economy away. The reality is that the economy did grow in the 1970s and this was due largely to several factors, foremost of which

were the following: 1) continuing expansion of the import-substituting industrial (ISI) sector, which started in the post-war decades of the 1950s and 1960s, 2) debt-driven infrastructure development similar to the build-build-build program of President Duterte, and 3) growth of the agricultural sector. On debt-driven infra development, this was the main reason for the country’s rapid accumulation of debt in the 1970s. Debt rose from $2 billion to over $20 billion in a decade. Shortly after the imposition by President Marcos of martial law in September 1972, the World Bank declared the Philippines as “an area of concentration.” Subsequently, the World Bank and the IMF formed the Consultative Group of Creditor for the Philippines (CGCP), which coordinated the lending programs for the country involving the bilateral, multilateral and even private international creditors. A major area of World Bank intervention in the 1970s was the propagation of the Green Revolution technology developed by the IRRI based in Los Baños. All-out support was given to the efforts of the martial-law government in the distribution of high-yielding IRRI seeds, irrigation development and so. But in the SAP decade of the 1980s, support to the Masagana 99 farmers was suddenly withdrawn, leading to widespread bankruptcies in the farm sector. Another contributor to the growth process was the export-oriented industrial (EOI) sector, which the Marcos western-educated economic technocrats, Gerardo Sicat et al., tried hard to promote through various incentives such as income tax holiday, duty-free raw material importation and development of special economic manufacturing zones, e.g., Bataan export processing zone. Electronics assembly and sewn garments production prospered. As to the Marcos cronies, their businesses indeed expanded tremendously in the martial law years. Their acquisition appetites are well documented in the books of Ricardo Manapat (Some Smarter Than Others, Alethia Publications, New York,1991), Primitivo Mijares (The Conjugal Dictatorship, reprinted by Ateneo de Manila U) and a number of scholars. The Marcos cronies feasted in acquiring assets in the power, telecom, plantation, cigarette, construction, auto and other sectors. The problem is that over time, after the Edsa Power Revolt, the Marcos cronies have been replaced or eclipsed by the cronies of the postEdsa administrations—the so-called

KKK tribe “kabarkada, kamag-anak at kabarilan.” The new cronies have discovered that there are new business empires to be built on deregulated and privatized power, telecom, water, construction and other sectors. Meantime, the country experienced severe de-industrialization and de-agricultural development under SAP in the 1980s-2000s. As documented by the Fair Trade Alliance and the Federation of Philippines Industries, a large number of industrial enterprises collapsed. These include those in the textile, pulp and paper, wood-based, steel, rubber and tire, shoe, tile, battery, pharmaceutical, cement, plastic and petrochemical industries. On the other hand, the EOI manufacturing has remained an enclave, dominated by electronics doing low or middle assembly work for the global value chains of multinationals. The EOI’s garments sector, which was once upon a time a big employer, wilted at the turn of the millennium. As to the agricultural sector, this was hit by three waves of agri trade liberalization sans any accompanying or supporting agricultural modernization program. The three waves: “agricultural deregulation” in the 1980s, WTO tariffication in the 1990s and rice tariffication/import liberalization at present. Given the foregoing phenomena of de-industrialization and de-agricultural development, the Philippines, number two to Japan in the 1960s, was left behind by its Asian neighbors (South Korea, Taiwan, Singapore, Malaysia, Thailand, Indonesia and now Vietnam) in the SAP decades of the 1980s-1990s-2000s. Thus, for Secretary Estanislao and Governor Cuisia to write that the Philippine economy today is much healthier and that the Filipino people today are much better off because of economic liberalization and deregulation clearly defies logic. And we are not talking yet of the high, very high cost of servicing the debt left behind by the Marcos regime. In her address to the Joint Session of the US Congress in 1986, Madame Corazon Aquino declared that she was “honoring” the entire debt. Today, after four decades of back-breaking servicing of this debt, the country is facing once more the possibility of another debt crisis similar to what flattened the country in the mid-1980s. To the presidentiables: Saan na po tayo pupulutin? Dr. Rene E. Ofreneo is a Professor Emeritus of the University of the Philippines. For comments, please write to reneofreneo@ gmail.com.

Xi counts some diplomatic wins after polarizing Winter Olympics

he Beijing Winter Olympics ended Sunday without a major protest, diplomatic incident, virus debacle or war in Ukraine. For Chinese President Xi Jinping, that’s about as good as could be expected. A US-led diplomatic boycott had raised the stakes for governments around the world, with attendance framed as a choice between respecting human rights or cozying up to the world’s No. 2 economy. The most-powerful attendee, Russian President Vladimir Putin, added to the drama with a military buildup around Ukraine as Western powers sought to deter a conflict. Still, Xi came away with some wins. He held at least 18 bilateral meetings with world leaders of mostly developing nations, inking several economic agreements on the sidelines. He also threw a banquet at Beijing’s Great Hall of the People, attended by International Olympic Committee chief Thomas Bach and United Nations Secretary-General Antonio Guterres. And Xi scored a soft-power coup: American-born freestyle skier Eileen Gu won two golds and one silver medal after choosing to compete for China over the US—a much-needed endorsement of the Communist Party’s system of governance as opinions

of the authoritarian country fall around the globe. “Beijing seems to have accomplished what it set out to do politically,” said Wen-Ti Sung, a lecturer in the Australian National University Taiwan studies program. “China likely sees the diplomatic boycott as a short-term inconvenience. The bigger long-term prize is the chance to demonstrate the performance legitimacy of China’s governance model.” Putin stole the show at the outset of the Games, backing China on Taiwan and winning Xi’s support to close ranks against the US and its allies on key security issues. In a joint statement after the two leaders’ first in-person meeting in more than two years, China supported Moscow in opposing the expansion of Nato, prompting US officials to caution Beijing that any conflict between Ukraine and Russia would affect China’s interests. Shortly after the Olympics wrapped, Putin announced he was recognizing two self-proclaimed separatist republics in eastern Ukraine, a dramatic escalation in Russia’s standoff with the West that became a trending topic on China’s Twitterlike Weibo on Tuesday. In a televised speech Monday, Putin accused the US of trying to “restrain the development of Russia,” echoing Chinese grievances against Washington.

North Korean leader Kim Jong Un, who didn’t attend the Olympics or send athletes due to Covid fears, subsequently congratulated Xi on a “splendid” games and reaffirmed the neighbors’ shared goal of “frustrating the undisguised hostile policy and military threat of the US,” the state’s official Korean Central News Agency said Tuesday. Pyongyang also halted a series of missile tests while China, its biggest benefactor, hosted the games. While some leaders failed to show —Saudi Arabia’s Crown Prince Mohammed bin Salman pulled out at the last minute due to a scheduling conflict and Papua New Guinea’s prime minister flew home after testing positive for Covid on arrival—Xi’s other meetings proved fruitful. Argentina became the 148th nation to join China’s Belt and Road Initiative, with President Alberto Fernandez pledging a five-year plan for agricultural cooperation. South America’s second-largest economy is working with the International Monetary Fund to stave off default. Xi also touted China’s readiness to help Poland—one of two European Union members to send a head of state—become a logistic hub, and spoke of an “iron clad” friendship with Serbia in meetings with their leaders, the Communist Partybacked Global Times reported. China

and Pakistan renewed a commitment to their economic corridor, while Beijing’s relationship with Kazakhstan “reached a new height,” according to China’s Foreign Ministry. Within China, some 600 million people watched the Games despite unprecedented restrictions on athletes inside the Olympic Bubble. China’s best-ever gold-medal haul put it third on the leader board, bolstering Xi’s ambition of getting 300 million citizens involved in winter sports by 2025. China’s ability to hold the Games amid a global pandemic showed the world Xi’s system—and its strategy of virus elimination—works, said Henry Wang Huiyao, founder of the Center for China & Globalization policy research group in Beijing. “China has been so organized, functioning so well, with no major accident,” he said. “China certainly can deliver.” Not everything went right. India announced its top diplomat in Beijing wouldn’t attend after a People’s Liberation Army soldier involved in deadly clashes on the countries’ border participated in the torch relay. That came in addition to the separate US-led boycott over alleged human rights abuses in China’s western Xinjiang region and Hong Kong, backed by major economies such as Australia, Canada and the UK. Bloomberg Opinion

A12 Wednesday, February 23, 2022

Relief from steady oil price hikes not seen to come from legislation

By Samuel P. Medenilla

@sam_medenilla

ALACAÑANG sees “no indication” at present that Congress will be able to tackle new legislation to reduce fuel price anytime soon, as concern over the continuing rise of pump prices sparked calls for a halt in excise taxes, subsidies for transport workers, and even a strike. Acting Presidential spokesperson Karlo B. Nograles said on Tuesday President Duterte has yet to act on the proposal to call for a special session for lawmakers to pass bills to address the soaring price of petroleum products. “You need the House of Representatives and the Senate to first talk together [for a special session] before they communicate it to President Duterte. But as of the moment there is no indication with regard to that call [for a special session],” Nograles said. Last week, the Department of Energy (DOE) said it is proposing a law which will allow it to set up a strategic petroleum reserve (SPR) to ensure the country will be insulated from abrupt change in

fuel prices in the international market. It also said it will support the postponement of excise tax of fuel products, but it noted the said measure must pass through Congress. On Monday, however, a lawmaker put the problem at DOE’s doorstep, saying its dilly-dallying was imperiling efforts to put up an SPR in timely fashion. “The DOE is not even doing the study yet; it is still at the stage of preparing to conduct a study,” said Camarines Sur Rep. Luis Raymund Villafuerte, He was referring to DOE’s revelation it will rebid procurement of a consultancy service to conduct a study on the project cost of setting up the SPR, its ideal capacity,

withdrawal schedule and priority sectors to be served. Congress adjourned its session on February 5, 2022 in time for the upcoming May 9, 2022 National and Local Elections. It is expected to resume sessions on May, 23, 2022.

Prepared for any eventuality

THE business sector expressed concern over the impact of ongoing geopolitical conflict in the Ukraine and Russian border, which is now affecting international commodity prices, including oil. See also related story on A1, “War-fueled oil price inflation impact eyed.” As of Monday, DOE data showed the net increase for gasoline prices was P7.95 per liter in terms of year-to-date adjustment. For diesel this was P10.20 per liter. Despite the border tension, the Overseas Workers Welfare Administration (OWWA) noted few of the 380 Filipinos in Ukraine, who have expressed interest in being repatriated as of Tuesday. However, OWWA Administrator Hans J. Cacdac said in a radio interview some Filipinos in identified “danger zones” in Ukraine opted to avail of in-country relocation. Nograles said they hope the Ukraine and Russia conflict will no longer escalate, but he noted the government is prepared “for any and all eventualities,” on the said matter.

DON’T ‘FALL IN LOVE’ WITH TECH EASILY–EXPERT By Tyrone Jasper C. Piad @Tyronepiad

EFORE shelling out too much money for technologies, companies should first identify their needs when executing their digital transformation plans, an expert has advised. Stratpoint Executive Chairman Paco Sandejas, during a virtual event hosted by the Supply Chain Management Association of the Philippines (SCMAP) on Tuesday, stressed the importance of learning about the technologies that companies intend to use before purchasing them to avoid unnecessary spending. “One of the big pieces of advice I’d like to give everybody is: do not fall in love with technology for technology’s sake,” he said. “We have to focus on those real problems and plan carefully. Do not fall in love with just buying technology and then investing in the wrong things,” he warned. What the companies need to do prior to investing is to identify areas in their operations that are currently done manually and can be digitized to improve productivity, Sandejas explained. It is also a must to ensure that the company has the knowledge to use the technologies to be acquired so they will serve their purpose, he added. In addition, Sandejas said it is also crucial for companies to find the “right trusted people” to advise the companies and avoid those technology providers who will sell a bunch of digital solutions that are not necessary for operations. Trade Undersecretary Rafaelita Aldaba, meanwhile, noted that “digital technologies and innovation have played a crucial role in ensuring quick responses to the crisis,” add-

ing such are key to ensuring resilience of the companies to “external shocks.” Among the sectors that can benefit the use of technology include the production and supply chains, she said. The trade official said that using smart manufacturing, for example, can boost productivity while reducing material and energy use. Incorporating artificial intelligence (AI) can also help in creating new products and services that can result in additional jobs and income generation, she said. “As we enter the new normal, we would expect firms to tailor their production and supply systems to changing consumer behavior. And this would require agility in production and supply systems enabled by advanced technology and automated processes at the same time,” Aldaba said. However, Aldaba flagged the low technology utilization in the local manufacturing industry. Citing a survey, she said that 35 percent still handle documents using a paper-based approach. Over half of the companies also control and track manufacturing activities manually through the same approach. She said 44 percent of the companies’ raw materials “are pulled into the shop floor via an unstructured request system” while 58 percent have “no manufacturing equipment connected to the network.” As such, she urged further digital adoption among local companies. “New technologies like AI are not here to destroy jobs or replace humans but to create new jobs and change what work looks like, augment human intelligence and skills and make our workplaces safer,” Aldaba concluded.

Companies

Editor: Jennifer A. Ng

Wednesday, February 23, 2022

Citicore Renewable allots ₧70B for power projects By Lenie Lectura

@llectura

iticore Renewable Energy Corp. (CREC), the renewable energy arm of Citicore Power Inc., is earmarking P70 billion for the expansion of its power generation portfolio to 1,500 megawatts (MW) in five years.

“The 1,500 megawatts would probably (cost) P70 billion,” said Citicore Energy REIT Corp. (CREIT) Chief Executive Officer Oliver Tan during an online news briefing. CREIT is the country’s first real estate investment trust (REIT) listing focused on renewable energy (RE). Tan said “around 15 plants,” at an average of 100MW per plant, could be put up in Luzon. “Based on timeline,

1,500 will be completed in five years, maybe earlier depending on rollout,” he said, adding that 630 megawatts (MW) are already in various development stages which should come online in the next two to three years. Financing for the planned P70billion power projects would come from various funding sources, including the proceeds from the CREIT listing.

“We can also borrow from mixed local banks to bankroll construction which later on will be folded into CREIT and maybe a combination of preferred shares offering from the sponsor,” he said. Tan said the planned projects would be infused into CREIT, which CREC sponsors. “The sponsor has 1,500 MW pipeline in the next five years. Falls in CREIT in batches. We are studying for first batch around 120 MW, as early as the first quarter.” The largest in the pipeline is a solar farm in Arayat in Mexico, Pampanga. This is a 50-50 percent venture with AC Energy Corp. (ACEN), with 72 MW in capacity for phase 1. Tan said this will be commissioned either by the end of this month or early next month. Phase 2 of the same project, which is 40MW in capacity, will be switched on before the end of the year. Other projects, he said, are still in

the preliminary engineering stages. “We already constructed access road, complete within three years. The rest, basically we’re doing land due diligence, both legal and technical.” CREC is also keen on participating in various power programs introduced by the Department of Energy. These include the Green Energy Auction Program (GEAP) of the agency. “We are actually excited for GEAP. For the initial round of 2,000MW, 1,000MW are solar. There are eight plants, five are nonFIT (feed-in-tariff) plants. We can include that in the GEAP, plus our other projects that are under development,” Tan said. It is also looking at the possibility of joining the competitive auction for the 850MW requirement of the Manila Electric Co. “We are studying the TOR [terms of reference] of the 850MW. We believe there will be five more coming out, so we’re looking into it.”

STI Education swings to profit By VG Cabuag @villygc

TI Education Systems Holdings Inc., a Tanco-led listed firm that owns a network of schools in the country, said it was able to turn around its business in the first half of fiscal year 20212022. The company recorded an income of P56.85 million, a reversal of the previous year’s P112.32-million loss. Its overall enrollment rose by 18 percent to 82,629 students for school year 2021-2022 from the previous 70,223 students. The total figure was boosted by the 40 percent surge in tertiary enrollment to 56,342 students from

40,176 in the previous school year, the company said. Revenues for the six-month period rose 20 percent to P1.12 billion from last year’s P929.06 million. Most of its income was made during its October to December quarter, when its profits reached P171.08 million or nearly double the previous P90.31 million. Revenues for the quarter also rose to P749.09 million, an 18 percent increase from the previous P632.41 million. STI said it was able to increase its enrollment even as classes are still being fully conducted online at the start of the current school year with the Philippines and the rest of the world adjusting to the “new normal.”

“The increase in our enrollment and in the number of Covid-19 vaccinations throughout the country are signs that the ‘new normal’ may be just in our midst. These technological enhancements are our ways of strengthening our commitment to help our students, faculty, and staff not just survive, but thrive in the days to come,” STI Holdings President and CEO Monico V. Jacob said. STI Education Services Group, the largest among the company’s three schools that carries the STI brand, partnered with the country’s major telecommunications providers for the provision of monthly data plans and loads of up to 34 gigabytes. Through this, students

are able to access their electronic Learning Management System, Microsoft Office 365 accounts, One STI Student Portal app and other online learning tools anytime. STI ESG has been employing the blended learning model for its students for the past six years, which allowed its network of schools to transition seamlessly to fully remote mode of learning when the Covid-19 pandemic hit in 2020. Bacolod City-based STI West Negros University, meanwhile, subscribed to GTI Software Developer’s SchoolAutomate system, an online school management software used to assign teaching loads, schedule classes and maintain students’ accounts and academic records.

PT&T bags CEB transports over 50M vaccine doses 2 awards

T&T Corp. has gained international recognition, winning two prestigious titles under the Technology Awards Category at the highly-coveted The Global Economic Awards 2021. It bagged the Most Innovative Telecom Services Provider–Philippines and the Best CSR Initiatives (Telecom)– Philippines accolades. The publicly-listed company was feted by The Global Economics Limited for its ongoing commitment to innovation, as well as its drive for customer-centricity while being agile in its Covid-19 pandemic response. “These awards exemplified PT&T’s Mission and Vision, that of being a leading digital service provider of world-class solutions and making the lives of people better through technology,” said PT&T President and Chief Executive Officer James Velasquez. “As we contribute to nation-building, we will remain a trusted government partner in empowering the long-term success of the Philippine telco and IT [information technology] industries. We are fully committed to bringing connectivity access and cutting-edge IT solutions to all our customers.” The Global Economics Limited is a renowned print and online publication and a bi-annual business magazine based in the United Kingdom giving thoughtful insights into the financial sectors on various industries across the globe. Roderick L. Abad

Creit shares rise on market debut Photo shows (from left, by row) Citicore Energy REIT Corp. (Creit) President and CEO Oliver Y. Tan, PSE COO Roel A. Refran, Creit Director Manuel Louie B. Ferrer, Creit Chairman Edgar B. Saavedra, PSE President and CEO Ramon S. Monzon, PSE Head of Issuer Regulation Division Marigel B. Garcia; Citicore Group Investor Relations Head Abigail Joan R. Cosico, Creit CFO Mia Grace Paula S. Cortez, Securities Clearing Corporation of the Philippines COO Renee D. Rubio and PSE General Counsel Veronica V. del Rosario. Contributed Photo

hares of Citicore Energy REIT Corp. rose during its listing on the Philippine Stock Exchange (PSE) on Tuesday, gaining P0.29 per share to close at P2.84, up from its initial public offering (IPO) price of P2.55. Creit, the country’s first energybased listed real estate investment trust (REIT), opened strong at P2.78 and reached as high as P2.94. It pared gains at the end of the trade as some investors decided to cash in on their gains. The company raised some P6.4 billion from its IPO. PSE President and CEO Ramon S. Monzon said the high level of interest among investors for both real estate investment trusts and renewable energy companies contributed to the brisk demand for Creit shares. “Because REITs are generally considered as dividend yield investments, shareholders tend to hold on to their shares, rather than actively trade them. Yet, four of the five REITs that have listed prior to Creit are among the 50 most actively traded stocks by value in the market,” Monzon said. Creit was supposed to have listed on the PSE on Thursday, but the company claimed it had to push its listing date due to the strong demand by investors. The company declined to disclose how many times its shares were oversubscribed in total. It said the company completed its offer period last Feb 8, and saw oversubscriptions across all tranches--institutional, trading participants and local small investors (LSI). For the LSI tranche, it generated an oversubscription level of 124 percent, receiving a total demand of 270.74 million shares from the 218.18 million shares allocated. Creit has five properties involved in or being used for renewable energy business in its portfolio. “This early it is already looking at adding two other properties, one located in Bulacan and another in South Cotabato. This is good news for us at the PSE. As a member of the sustainable stock exchange initiative, we want to see more listed companies that di-

rectly address the ominous threats of climate change and promote sustainability,” Monzon said. Monzon said trading activity at the PSE during at the start of the year through February 17 showed that the top 15 most actively traded stocks by value are in the renewable energy business. REITs, meanwhile, have reached a market capitalization of about P300 billion, or about 1.4 percent of the country’s GDP.

‘Tap capital markets’

Finance Secretary Carlos G. Dominguez III urged clean energy companies to follow the lead of Creit in accessing capital markets to fund green investments. Dominguez, who is the official representative of the President to the Climate Change Commission, said Creit’s listing is a “perfect example of how the government and the private sector can jointly build energy sufficiency and address issues related to global warming.” “Citicore Energy REIT is the Philippines’s first-ever REIT offering that draws its income from solar energy investments. As such, it expands the REIT horizon, going beyond commercial property holdings,” he said in a pre-recorded video message at the CREIT’s listing. “We encourage other clean energy companies to follow Citicore’s initiative in helping the government implement concrete climate actions on the ground to save the only planet that we have.” He added that the company’s plan to use the proceeds from its public listing to fund its ongoing and future investments in solar and hydro plants in key areas in Luzon will complement government efforts to accelerate the Philippines’ transition to clean energy through the Energy Transition Mechanism (ETM) project with the Asian Development Bank (ADB). The ETM is an ADB-led project that aims to leverage a market-based approach to accelerate the transition of developing member-countries like the Philippines from coal to clean energy. VG Cabuag and Bernadette D. Nicolas

Al Douglas Villaos is new president of COREnergy

Contributed photo

ebu Pacific (CEB) said on Tuesday it has transported over 50 million doses of Covid-19 vaccine to date, helping the government beef up its vaccination drive across the country. The carrier said it has been airlifting vaccines to 28 provinces since March 2021, namely: Bacolod, Boracay, Bohol, Butuan, Cagayan de Oro, Cauayan, Cebu, Cotabato, Davao, Dipolog, Dumaguete, General Santos, Iloilo, Legazpi, Kalibo, Masbate, Naga, Ozamiz, Pagadian, Puerto Princesa, Roxas, San Jose, Siargao, Tacloban, Tuguegarao, Tawi-Tawi, Virac, and Zamboanga. Cagayan de Oro received the high-

est number of vaccine shipments to date, followed by Iloilo, Bacolod, Tacloban, and Legazpi. The vaccine doses were subject to stringent procedures to guarantee potency and efficacy until their arrival at the designated stations. “We are committed to keep supporting the national immunization program through the safe and timely delivery of COVID-19 vaccines across our widest domestic network,” said Alex Reyes, Chief Strategy Officer at Cebu Pacific. CEB said it has attained 100 percent vaccination rate for its active flying crew through its very own employee vaccination program, JG Summit COVID Protect, and various

partnerships with local government units in the country. It has already started its booster program to ensure the continued safety of its employees and passengers. The airline has been rated 7/7 stars by airlineratings.com for its Covid-19 compliance as it continues to implement a multi-layered approach to safety, in accordance with global aviation standards. These include daily extensive cleaning and disinfection protocols for all aircraft and facilities, on top of its contactless flight procedures. Its jet fleet is equipped with hospital grade HEPA filters, known to eradicate viruses with 99.9 percent efficiency. Lorenz S. Marasigan

top official of publicly-listed Vivant Corp. will lead the licensed retail electricity supplier (RES) arm of Vivant Energy Corp. (VEC). VEC is the parent company of Vivant Corp. On Tuesday, it announced that Al Douglas Villaos will serve as president of COREnergy Inc. “COREnergy as a one-stop-shop energy solutions provider is perfectly positioned to meet the demands of a wide range of businesses that want to be ahead when the economy recovers,” said Villaos, who also sits as vice president of Vivant Corp. He said COREnergy takes a “customer-centric approach” in developing and delivering energy solutions that sustain the growth of businesses and industries. “COREnergy views customers as business partners. We manage customers not as accounts but as relationships. We will ensure that these relationships will be sustained in the long-term by exceeding customers’ expectations when it comes to efficient and effective third-party energy solu-

tions,” said Villaos. The company is gradually adapting to the changed landscape. In the past two years, amid Covid, many business owners have realized the importance of having flexible, reliable and costeffective electricity. “COREnergy on boarded several new RES accounts, delivered cost saving energy-related engineering solutions to key customers, and despite significant supply chain and logistics issues, commissioned a few solar rooftop projects in multiple areas,” Villaos said. He noted that as business and industry continues to adapt to an environment that has been changed by COVID-19, they would need an energy partner that adds value to their operations. “COREnergy offers RES, solar and energy engineering solutions to businesses and industries under the open access regime.” Before joining Vivant, Villaos worked in several multinational companies where he has built knowledge and experience in energy investments in Southeast Asia. Lenie Lectura

Wednesday, February 23, 2022

Companies BusinessMirror

Converge, Stairway to fight online child sexual abuse

By Lorenz S. Marasigan

@lorenzmarasigan

onverge ICT Solutions Inc. has forged a memorandum of agreement with Stairway Foundation Inc., a child rights protection nongovernment organization (NGO), to beef up its efforts in preventing online child abuse.

During a virtual signing ceremony on Tuesday, Converge and Stairway executives highlighted the need to raise awareness about online sexual abuse of children (OSAEC) in the Philippines. “More than curbing the consumption of OSAEC content, the market for which is the West, we are making strides to ensure the creation of such content is stopped. This is why we partnered with Stairway Foundation, a Philippine NGO promoting children’s rights through awareness, community assistance,

and networking,” Converge Strategy Officer Benjamin B. Azada said. Under their partnership, Stairway and Converge will collaborate in the creation of campaign materials to raise awareness on the high incidence of OSAEC in the country. “The average age of children first going online is 10 years old. With the basic education continuity plan of DepEd [Department of Education], the number may be much lower. They spend an average of two hours online. The internet is very much

ingrained into children’s lives today and we have to be aware of the greater risk involved,” Stairway Child Protection Specialist Ysrael Diloy said. Concurrent to the signing event, Converge also launched its own information and awareness campaign called Undo Filter “to enjoin its employees and third-party stakeholders to be vigilant on their children’s activities online.” “Technology distorts reality through different filters and hides these underground activities. While Converge is an advocate of the benefits of technology, we know there are downsides as well. Instead of the internet being used for the education and development of our children, it is being used by criminals to exploit and profit off of them,” said Jay-Anne Encarnado, Corporate Communications and Public Relations Director. “With this campaign, we encourage everyone to go deeper into what goes on in your child’s online world, and be proactive in reporting incidents to authorities, or to us, the ISP.”

Two video materials were released as part of the campaign, portraying potential scenarios of real life situations children find themselves in. The fiber broadband company has so far blocked 20,000 OSEAC websites on its network, spending over P100 million to upgrade its technology. The Philippines is considered a “hotbed” for live streaming of child abuse content, many of its patrons are from western countries, according to the Inter-Agency Council Against Child Pornography (IACACP). The Department of Justice recorded a tripling of OSEAC reports to 1.3 million in 2020 from 2019. “The Anti-Money Laundering Council also reported that suspicious transactions linked to sexual abuse of children have doubled from P65.8 million in 2019 to P113.1 million in the first half of 2020. This shows that the pandemic created a perfect storm for OSAEC,” said IACACP Chair, Department of Social Welfare and Development Assistant Secretary Glenda Relova.

Jollibee stores serve as vaccination sites mutual funds

February 22, 2022

NAV

One Year Three Year

Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

235.62

7.02%

-3.93%

-1.44%

1.09%

ATRAM Alpha Opportunity Fund, Inc. -a

1.5903

19.31%

2.47%

-4.44%

-7.34%

-4.08%

1.25%

-7.08% n.a.

0.77%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.2783

7.93%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7623 -1.7% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7491 6.79% First Metro Save and Learn Equity Fund,Inc. -a

A total of 1,701 primary doses and booster shots were administered by local government units at several Jollibee stores that served as vaccination sites. Contributed photo

he Jollibee Group has once more provided its stores as vaccination sites for local government units (LGUs) during the third National Vaccination Day held on February 10 and 11. In partnership with the Department of Health (DOH), seven Jollibee stores in Metro Manila administered a total of 1,701 primary doses and booster shots to eligible adult Filipinos. Among the participating stores were Jollibee Commonwealth Mindanao and Jollibee Katipunan in Quezon City; Jollibee Sucat Road in Parañaque City; Jollibee Bonifacio Global City Triangle in Taguig City; Jollibee Valenzuela in Valenzuela City; and Jollibee Legarda and Jollibee North Harbour in the city of Manila. Originally slated as a two-day mass vaccination drive, some Jollibee stores extended their participation until February 13 to allow for the inoculation of more people. These stores included Jollibee

branches in Valenzuela, Commonwealth Mindanao, Katipunan, Legarda, and North Harbor branches. “We have always believed in the important role of vaccination and boosters in keeping our people safe and helping reopen the economy as we continue our drive to move into an endemic phase. We are honored to help our country by providing several stores in Metro Manila as easily-accessible vaccination sites to support the goal of speeding up vaccinations and reaching more people in the country,” said Pepot Miñana, Chief Sustainability and Public Affairs Officer of Jollibee Group. The nationwide vaccination drive, dubbed “Bayanihan, Bakunahan,” aimed to administer five million COVID-19 vaccines in its third wave. Prior to the February vaccination, the Jollibee Group also provided Jollibee branches to be utilized as vaccination sites during the first and second mass vaccinations that were held in late November and early December of last year.

5.2495

-4.5% n.a.

-2.83%

9.88%

-1.68%

0.4%

1.29%

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

0.7884

10.89%

-3.55%

-3.03%

MBG Equity Investment Fund, Inc. -a

92.43

-8.53%

-9.32% n.a.

-2.12% 0.29%

PAMI Equity Index Fund, Inc. -a

48.2681

6.39%

-2.52%

0.03%

Philam Strategic Growth Fund, Inc. -a

505.95

6.81%

-2.46%

-0.37%

1.05%

Philequity Dividend Yield Fund, Inc. -a

1.3904

21.95%

1.94%

2.54%

2.51%

Philequity Fund, Inc. -a

36.9613

9.34%

-1.51%

1.07%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9665

9.84%

-2.19% n.a.

2.67%

Philequity PSE Index Fund Inc. -a

4.9926

7.54%

-1.78%

0.73%

0.64%

Philippine Stock Index Fund Corp. -a

831.48

7.05%

-1.85%

0.64%

0.36%

Soldivo Strategic Growth Fund, Inc. -a

0.7621

8.55%

-5.53%

-2.2%

1.26%

8.6%

-4.02%

-0.6%

0.91%

0.9471

6.57%

-2.18%

0.4%

7.72%

-1.88%

1.32%

1.28%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.8097 Sun Life Prosperity Philippine Stock Index Fund, Inc. -a United Fund, Inc. -a

3.4814

0.65%

0.28%

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

1.2002

Philippine Stock Index Fund Corp. -a

13.3% n.a. n.a.

3.23%

1020.54 n.a. n.a. n.a. n.a.

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

112.0384

7.47%

-1.59%

1.14%

0.5%

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

$1.107

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6922

-17.84%

3.35%

4.04%

-1.73%

-5.46%

10.89%

9.23%

-8.35%

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

1.6734

ATRAM Philippine Balanced Fund, Inc. -a

2.2916

First Metro Save and Learn Balanced Fund Inc. -a 2.7121

0.74%

-0.94%

-0.52%

-1.1%

2.5%

-0.07%

0.15%

0.44%

5.79%

0.91%

1.61%

0.78%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2118 NCM Mutual Fund of the Phils., Inc. -a

2.0169

3.61%

9.4% n.a. n.a. 1.86%

1.94%

PAMI Horizon Fund, Inc. -a

3.77

1.82%

1.21%

0.81%

0.13%

Philam Fund, Inc. -a

16.8929

1.87%

0.88%

0.77%

0.28%

Solidaritas Fund, Inc. -a

2.1324

3.65%

-0.2%

0.69%

0.52%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6604 4.37%

-1.46%

0.26%

0.36%

Sun Life Prosperity Dynamic Fund, Inc. -a

-0.17%

0.81%

1.12%

0.9649

10.68%

1.34%

0.01%

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

0.9755

-2.14%

-0.5% n.a.

-1.44%

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.9392

1.93%

-1.63% n.a.

-0.56%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.9298

2.72%

-1.94% n.a.

-0.44%

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

$0.036

-6.54%

0.27%

0.41%

$1.0678

-11.14%

2.83%

2.9%

0.07%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.4936 -5.21%

7.68%

6.75%

-6.42%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1398 -5.31%

3.57%

3.15%

-4.91%

PAMI Asia Balanced Fund, Inc. -b

-5.11%

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

373.85

0.63%

2.65%

2.45%

-0.12%

ATRAM Corporate Bond Fund, Inc. -a

1.8859

-0.97%

0.42%

0.18%

0.06%

Cocolife Fixed Income Fund, Inc. -a

3.2448

0.82%

2.74%

3.75%

0.02%

Ekklesia Mutual Fund Inc. -a

2.2282

-2.49%

1.24%

1.23%

-1.03%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4182 -0.72%

2.78%

1.77%

-0.32%

Philam Bond Fund, Inc. -a

3.47%

1.21%

4.3453

-5.54%

-1.14%

Philam Managed Income Fund, Inc. -a

1.3194

-0.02%

3.6%

2.82%

0.02%

Philequity Peso Bond Fund, Inc. -a

3.9508

-0.37%

3.37%

2.57%

-0.38%

Soldivo Bond Fund, Inc. -a

1.0221

-0.83%

3.96%

1.87%

-0.59%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1824

-0.37%

3.97%

3.17%

-0.16%

Sun Life Prosperity GS Fund, Inc. -a

-0.97%

3.14%

2.46%

-0.29%

1.7255

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

$487.38

0.64%

2.6%

2.3%

-0.45%

ALFM Euro Bond Fund, Inc. -a

Є217.81

-0.77%

0.49%

0.76%

-1%

ATRAM Total Return Dollar Bond Fund, Inc. -b

$1.1436

-8.13%

-0.19%

0.62%

-5.01%

0.53%

0.4%

-2.31%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0254 -3.05% PAMI Global Bond Fund, Inc -b

$0.9747

-9.92%

-2.49%

-1.72%

-4.7%

Philam Dollar Bond Fund, Inc. -a

$2.3817

-5.31%

2.34%

1.67%

-4.95%

$0.0615288

-1.67%

2.29%

1.63%

-1.23%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.9953 -5.78%

0.71%

0.43%

-6.29%

Philequity Dollar Income Fund Inc. -a

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

131.39

1.02%

2.57%

2.54%

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

1.0594

0.99%

1.86% n.a.

0.15%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3184

1.49%

2.46%

2.52%

0.16%

0.21%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0615

0.71%

1.35% n.a.

0.08%

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

45.9248 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3114

10.03% n.a. n.a.

-5.17%

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

$0.925

-6.57% n.a. n.a.

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

c - Listed in the PSE.

-4.64%

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

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

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

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

February 22, 2022

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

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

27,000 248,888,263 277,046,376.50 4,808,785 7,928,640 86,487,692.50 279,800 1,828 3,895,386 136,110 1,534,140 143,089,293 10,649,808.50 584,800 244,520 7,200 4,740 2,163,322

-16,859,336 -66,964,751.50 2,625 -69,116 -18,709,174 -189,978 52,860 173,040 -14,837,716 -1,273,974 -208,160 -223,090

INDUSTRIAL AC ENERGY 8.83 8.86 8.59 8.87 8.53 8.86 11,989,600 105,100,582 ALSONS CONS 1.03 1.05 1.03 1.05 1.03 1.05 47,000 48,690 36.45 36.5 36 36.5 35 36.5 3,113,600 112,465,865 ABOITIZ POWER BASIC ENERGY 0.51 0.52 0.52 0.53 0.51 0.52 6,709,000 3,463,500 26.25 26.7 26.2 26.8 26.15 26.25 132,000 3,503,950 FIRST GEN FIRST PHIL HLDG 70.85 71 70.9 70.9 70.85 70.9 12,980 920,138 364 366 362.8 366 360.2 366 201,130 73,375,340 MERALCO 21.45 21.5 22.3 22.3 21.45 21.45 1,577,100 34,139,070 MANILA WATER PETRON 3.3 3.34 3.33 3.39 3.3 3.3 1,693,000 5,647,710 4.2 4.28 4.25 4.28 4.25 4.28 41,000 175,050 PETROENERGY PHX PETROLEUM 10.68 10.78 10.78 10.78 10.16 10.78 10,600 111,452 12.54 12.6 12.5 12.6 12.44 12.6 1,669,900 20,915,534 SYNERGY GRID PILIPINAS SHELL 19 19.08 19.2 19.2 19 19 146,300 2,788,078 15 15.1 14.92 15.9 14.92 15 151,200 2,267,242 SPC POWER SOLAR PH 1.91 1.92 1.83 1.94 1.76 1.92 190,724,000 354,418,270 AGRINURTURE 5.15 5.16 5.15 5.17 5.03 5.17 3,343,000 17,241,259 2.8 2.82 2.84 2.84 2.8 2.82 208,000 585,450 AXELUM CENTURY FOOD 25.5 25.6 24.55 25.65 24.55 25.6 841,800 21,475,120 15.86 15.9 15.86 16 15.82 15.9 93,800 1,487,334 DEL MONTE DNL INDUS 8.08 8.2 8.17 8.22 8.07 8.08 593,300 4,825,438 19.98 20.35 20 20.4 19.82 20.35 1,616,100 32,455,511 EMPERADOR 68.5 68.9 70 70 68.3 68.5 17,590 1,217,459 SMC FOODANDBEV FIGARO COFFEE 0.75 0.76 0.77 0.79 0.75 0.75 61,285,000 46,768,280 0.6 0.64 0.64 0.64 0.64 0.64 4,000 2,560 ALLIANCE SELECT FRUITAS HLDG 1.21 1.24 1.23 1.24 1.2 1.24 5,649,000 6,867,790 109.2 109.3 108.7 109.9 108 109.2 56,280 6,090,540 GINEBRA JOLLIBEE 248 249.8 244.4 250 243.8 249.8 445,530 109,784,726 1.37 1.38 1.37 1.4 1.36 1.38 4,865,000 6,681,790 KEEPERS HLDG 6.5 6.59 6.5 6.5 6.43 6.5 107,100 693,208 MAXS GROUP MONDE NISSIN 15.48 15.5 15.52 15.8 15.44 15.48 11,502,500 179,022,238 8.42 8.45 8.46 8.47 8.33 8.45 69,700 587,872 SHAKEYS PIZZA ROXAS AND CO 0.66 0.68 0.64 0.72 0.63 0.66 2,681,000 1,741,200 4.5 4.6 4.6 4.6 4.59 4.6 300,000 1,378,800 RFM CORP ROXAS HLDG 1.03 1.08 1.05 1.05 1.05 1.05 2,000 2,100 0.103 0.104 0.102 0.104 0.102 0.104 580,000 59,600 SWIFT FOODS UNIV ROBINA 124.9 125 124.7 125.9 124 125 915,270 114,247,166 VITARICH 0.65 0.66 0.64 0.65 0.64 0.65 675,000 434,080 1 1.01 1 1.01 0.98 1 1,443,000 1,428,130 CEMEX HLDG EAGLE CEMENT 13.76 14 13.8 13.9 13.76 13.76 31,400 433,114 6.12 6.13 6.2 6.2 6.11 6.12 34,600 211,939 EEI CORP HOLCIM 6.25 6.28 6.29 6.29 6.25 6.28 475,000 2,979,671 5.15 5.2 5.3 5.3 5.15 5.15 768,400 4,001,472 MEGAWIDE 20.8 20.95 20.8 20.8 20.75 20.8 9,700 201,740 PHINMA TKC METALS 0.79 0.8 0.78 0.8 0.78 0.79 157,000 124,150 0.98 0.99 0.92 1.01 0.91 0.99 18,031,000 17,717,190 VULCAN INDL CROWN ASIA 1.7 1.72 1.73 1.73 1.72 1.72 1,661,000 2,856,930 1.28 1.4 1.31 1.32 1.27 1.27 73,000 95,040 EUROMED MABUHAY VINYL 4.31 4.44 4.45 4.45 4.45 4.45 1,000 4,450 5.83 5.92 5.83 5.92 5.83 5.92 5,000 29,338 PRYCE CORP CONCEPCION 21.5 22.6 22.6 22.6 22.6 22.6 700 15,820 GREENERGY 1.96 1.98 1.9 2.02 1.9 1.98 8,751,000 17,117,410 8.45 8.48 8.25 8.69 8.21 8.45 451,700 3,783,940 INTEGRATED MICR IONICS 0.74 0.75 0.75 0.75 0.75 0.75 159,000 119,250 5.91 6.08 5.91 5.91 5.91 5.91 5,400 31,914 PANASONIC SFA SEMICON 1.2 1.21 1.21 1.21 1.18 1.21 367,000 440,740 3.84 3.86 3.84 3.88 3.76 3.86 761,000 2,921,900 CIRTEK HLDG

18,492,324 -33,990 1,941,455 25,500 657,680 346,578.50 43,030,468 -1,114,395 -1,286,720 -7,546 3,205,948 -2,562,902 -4,779,000 -15,243,503 22,480 -6,064,685 743,968 -1,412,113.00 -232,996.50 -77,230 9,600 -4,162,393 2,100,024 885,680 -98,820 -22,942,256 -179,795 -959,690 -257,590 -5,012,877 -8,450 -93,200 -4,142 -620 677,008.00 -15,490 50,500 4,358,370 131,024 98,690 3,860

HOLDING & FRIMS

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

44.05 134.9 98.9 26.25 9.44 60.25 9.3 18 19.98 56.25 20.55 117.5 99.05 2.01 4.07 0.79 0.68 216

0.89 859 61.35 13.26 8.3 0.97 0.61 0.63 5.2 8.42 7.11 590.5 3.75 63 6.52 0.59 9.1 3.86 2.77 1.2 2.9 893.5 108.4 119.1 0.28 0.172

45 135 99 26.35 9.47 60.75 9.75 18.28 20.3 57 20.9 118 100.5 2.05 4.08 0.8 0.71 220

0.91 860 63 13.3 8.35 0.98 0.62 0.64 5.21 8.43 7.12 594 3.86 63.05 7 0.62 9.16 3.87 2.99 1.21 3 895 108.8 123.3 0.3 0.175

45 134.3 99.55 26.3 9.5 60 9.75 18.28 20.45 56.5 20.55 116 101.9 2.05 4 0.8 0.68 224

0.91 860.5 60.2 12.9 8.39 0.94 0.64 0.65 5.22 8.48 7.11 592 3.75 62.5 7.04 0.63 9.24 3.8 2.99 1.22 3 861.5 109 120 0.3 0.17

45 136.8 100 26.35 9.5 60.75 9.75 18.28 20.45 57 20.6 118.3 104 2.06 4.08 0.8 0.68 224.6

0.92 868 63 13.3 8.39 0.98 0.64 0.65 5.22 8.48 7.12 594 3.75 63 7.04 0.63 9.28 3.87 2.99 1.23 3 897.5 109 120 0.3 0.17

45 133.2 98.4 26.25 9.44 59.4 9.35 18.28 19.96 56.05 20.55 114.7 98 2.05 4 0.8 0.67 213.8

0.88 853 60.2 12.7 8.35 0.93 0.6 0.62 5.17 8.34 7.11 579 3.75 61 6.9 0.6 9.1 3.8 2.99 1.2 3 856.5 108.3 119.1 0.28 0.17

45 135 99 26.35 9.47 60.75 9.75 18.28 19.98 56.25 20.6 118 99.1 2.05 4.07 0.8 0.67 221

0.89 860 63 13.3 8.35 0.97 0.62 0.64 5.2 8.43 7.12 590.5 3.75 63 6.9 0.6 9.1 3.87 2.99 1.2 3 895 108.4 119.1 0.28 0.17

600 1,843,100 2,795,720 182,800 838,100 1,433,990 29,400 100 194,800 2,410 74,500 1,215,950 106,430 285,000 61,000 9,000 7,000 9,680

14,045,000 353,600 970,530 6,615,000 1,400 992,000 18,629,000 819,000 2,965,800 1,984,200 12,300 132,840 19,000 1,361,110 3,400 204,000 9,473,500 20,932,000 1,000 167,000 10,000 804,840 35,310 250 1,470,000 60,000

12,597,200 304,235,900 60,647,538 87,078,316 11,694 955,280 11,492,100 522,870 15,417,336 16,717,502 87,574 78,216,345 71,250 85,501,956.50 23,530 122,760 86,777,059 80,284,870 2,990 201,510 30,000 709,022,410 3,836,580 29,820 440,600 10,200

PROPERTY ARTHALAND CORP 0.61 0.62 0.61 0.61 0.61 0.61 41,000 25,010 AYALA LAND 39.3 39.5 39.1 39.5 38.7 39.5 6,776,700 265,096,945 4.58 4.6 4.73 4.73 4.35 4.58 6,938,000 31,157,460 AYALA LAND LOG ARANETA PROP 0.97 1.02 0.95 1.02 0.95 1.02 13,931,000 13,235,150 51.9 52 51.5 52 51 52 2,696,430 139,808,070.50 AREIT RT A BROWN 0.91 0.92 0.93 0.95 0.92 0.92 357,000 330,660 0.71 0.73 0.71 0.71 0.71 0.71 13,000 9,230 CITYLAND DEVT CROWN EQUITIES 0.096 0.1 0.096 0.102 0.094 0.1 2,880,000 277,320 CEB LANDMASTERS 2.94 2.95 2.93 2.96 2.93 2.95 177,000 520,860 0.425 0.43 0.425 0.425 0.42 0.425 590,000 250,550 CENTURY PROP CITICORE RT 2.83 2.84 2.78 2.94 2.71 2.84 521,429,000 1,482,248,430 10.42 10.48 10.38 10.5 10.06 10.48 1,530,400 15,963,580 DOUBLEDRAGON DDMP RT 1.79 1.8 1.79 1.8 1.78 1.79 6,807,000 12,174,380 6.94 6.98 6.93 6.98 6.93 6.98 50,500 351,384 DM WENCESLAO EMPIRE EAST 0.246 0.255 0.25 0.255 0.25 0.255 240,000 60,050 EVER GOTESCO 0.305 0.31 0.305 0.31 0.3 0.305 4,580,000 1,398,200 7.55 7.59 7.55 7.55 7.49 7.55 7,351,100 55,319,265 FILINVEST RT FILINVEST LAND 1.1 1.11 1.1 1.12 1.1 1.12 1,002,000 1,108,690 0.92 0.95 0.96 0.96 0.92 0.92 506,000 468,840 GLOBAL ESTATE 8990 HLDG 13.48 13.64 13.66 13.7 13.44 13.64 77,500 1,055,212 571 634.5 635 635 634.5 634.5 50 31,735 GOLDEN MV PHIL INFRADEV 1.03 1.04 1.05 1.05 1.02 1.04 1,106,000 1,136,350 CITY AND LAND 0.86 0.87 0.86 0.86 0.83 0.86 96,000 81,980 3.29 3.3 3.3 3.33 3.26 3.3 26,432,000 87,180,760 MEGAWORLD MRC ALLIED 0.28 0.285 0.27 0.285 0.265 0.285 65,850,000 17,856,850 20 20.05 20.45 20.5 19.5 20.05 3,497,900 70,088,076 MREIT RT OMICO CORP 0.34 0.35 0.34 0.35 0.34 0.35 250,000 85,500 0.47 0.475 0.465 0.48 0.465 0.47 1,190,000 559,100 PHIL ESTATES PRIMEX CORP 2.08 2.1 2.14 2.14 2.02 2.1 1,980,000 4,150,220 RL COMM RT 8.16 8.18 7.95 8.24 7.95 8.16 17,292,600 140,250,133 19.3 19.32 19.38 19.42 18.9 19.3 6,945,000 133,999,360 ROBINSONS LAND PHIL REALTY 0.239 0.24 0.231 0.239 0.222 0.239 1,280,000 295,630 1.45 1.49 1.45 1.45 1.45 1.45 7,000 10,150 ROCKWELL SHANG PROP 2.6 2.62 2.62 2.62 2.57 2.62 19,000 49,300 2.74 2.9 2.9 2.9 2.9 2.9 5,000 14,500 STA LUCIA LAND SM PRIME HLDG 39.35 39.85 39.5 39.85 38.55 39.85 10,361,400 406,881,015 SOC RESOURCES 0.6 0.64 0.61 0.64 0.59 0.64 41,000 25,200 3.66 3.77 3.65 3.79 3.65 3.66 15,000 55,210 VISTAMALLS SUNTRUST HOME 1.05 1.09 1.09 1.09 1.05 1.09 340,000 365,520 3.25 3.26 3.27 3.3 3.23 3.26 1,683,000 5,491,000 VISTA LAND SERVICES ABS CBN 12.72 12.8 12.9 12.94 12.72 12.8 77,000 982,850 GMA NETWORK 13.94 13.96 14.02 14.08 13.82 13.94 1,345,500 18,789,156 0.405 0.415 0.415 0.415 0.4 0.415 480,000 194,250 MANILA BULLETIN GLOBE TELECOM 2,660 2,670 2,690 2,716 2,652 2,660 88,410 236,534,630 1,806 1,814 1,782 1,825 1,769 1,814 66,820 120,926,110 PLDT APOLLO GLOBAL 0.063 0.064 0.065 0.065 0.063 0.064 82,840,000 5,295,250 26.9 27.2 27 27.95 26.6 26.9 6,349,800 172,191,330 CONVERGE 2.28 2.29 2.27 2.28 2.25 2.28 178,000 401,370 DFNN INC DITO CME HLDG 6.89 6.9 6.68 6.99 6.63 6.9 55,516,000 379,845,429 1.6 1.64 1.64 1.64 1.64 1.64 2,000 3,280 JACKSTONES NOW CORP 1.27 1.28 1.28 1.28 1.26 1.27 397,000 505,350 0.365 0.37 0.38 0.38 0.365 0.365 6,740,000 2,481,950 TRANSPACIFIC BR 2GO GROUP 7.35 7.4 7.4 7.4 7.33 7.35 4,100 30,174 14 14.4 14.2 14.3 14.2 14.3 67,800 965,760 ASIAN TERMINALS CHELSEA 1.81 1.83 1.9 1.94 1.79 1.83 2,324,000 4,333,830 CEBU AIR 47.4 47.8 49.3 49.3 47 47.4 621,000 29,551,685 219 220 213.8 221.8 212 220 2,291,670 501,726,670 INTL CONTAINER LBC EXPRESS 21.7 23.95 21.75 21.75 21.7 21.7 5,000 108,550 0.9 0.92 0.9 0.9 0.9 0.9 100,000 90,000 LORENZO SHIPPNG MACROASIA 5.6 5.62 5.6 5.69 5.5 5.6 761,500 4,263,193 1.02 1.04 1.02 1.02 1.02 1.02 19,000 19,380 METROALLIANCE A HARBOR STAR 0.81 0.82 0.81 0.82 0.81 0.81 218,000 176,690 DISCOVERY WORLD 1.71 1.75 1.7 1.75 1.7 1.75 6,000 10,350 0.465 0.49 0.46 0.465 0.46 0.465 260,000 119,650 WATERFRONT CENTRO ESCOLAR 6.51 6.88 6.88 6.88 6.51 6.51 3,000 20,270 536 594 594 594 594 594 20 11,880 FAR EASTERN U STI HLDG 0.34 0.35 0.35 0.35 0.35 0.35 20,000 7,000 1.33 1.36 1.33 1.33 1.32 1.32 174,000 230,510 BELLE CORP BLOOMBERRY 6.85 6.86 6.79 6.88 6.53 6.86 7,324,700 49,229,275 PACIFIC ONLINE 1.77 1.8 1.77 1.77 1.77 1.77 2,000 3,540 1.34 1.35 1.42 1.42 1.3 1.35 2,423,000 3,308,710 LEISURE AND RES PH RESORTS GRP 1.04 1.06 1.03 1.1 0.97 1.04 8,293,000 8,741,780 0.43 0.435 0.43 0.44 0.43 0.435 12,880,000 5,550,150 PREMIUM LEISURE PHILWEB 2.26 2.27 2.19 2.26 2.16 2.26 570,000 1,266,790 0.53 0.54 0.53 0.54 0.52 0.54 32,078,000 17,123,790 ALLDAY 5.67 5.86 5.67 5.67 5.67 5.67 8,000 45,360 BERJAYA ALLHOME 8.6 8.65 9 9 8.6 8.65 413,600 3,576,562 1.42 1.43 1.42 1.43 1.41 1.42 1,414,000 2,007,390 METRO RETAIL PUREGOLD 36 36.05 36.65 36.65 35.85 36.05 853,200 30,786,115 58.8 58.85 59.8 59.8 58.3 58.85 385,630 22,760,217.50 ROBINSONS RTL PHIL SEVEN CORP 80.3 82.4 82.55 84 82 82.4 5,090 418,801 1.11 1.13 1.14 1.14 1.11 1.13 1,050,000 1,175,250 SSI GROUP 28.25 28.4 28.2 28.5 27.5 28.25 1,915,200 53,790,835 WILCON DEPOT APC GROUP 0.25 0.27 0.25 0.27 0.25 0.255 560,000 142,500 4.01 4.48 4.1 4.11 4.1 4.11 21,000 86,110 EASYCALL IPM HLDG 6.6 7 6.75 7 6.7 7 4,400 29,841 1.11 1.14 1.14 1.15 1.1 1.14 3,886,000 4,353,960 MEDILINES PRMIERE HORIZON 0.77 0.78 0.72 0.77 0.69 0.77 46,110,000 34,193,770 4.08 4.1 4.15 4.15 4.08 4.1 179,000 731,620 SBS PHIL CORP MINING & OIL ATOK 5.78 5.94 5.95 5.95 5.94 5.94 10,700 63,563 1.7 1.71 1.64 1.7 1.64 1.7 4,661,000 7,833,950 APEX MINING ATLAS MINING 6.6 6.61 6.58 6.6 6.4 6.6 801,100 5,241,548 4.83 5.19 5.2 5.2 5.2 5.2 1,000 5,200 BENGUET B COAL ASIA HLDG 0.255 0.27 0.255 0.26 0.255 0.255 410,000 104,700 2.58 2.59 2.55 2.59 2.51 2.59 8,480,000 21,671,640 FERRONICKEL 0.198 0.205 0.197 0.204 0.197 0.199 900,000 180,830 GEOGRACE LEPANTO A 0.166 0.167 0.169 0.173 0.159 0.166 55,710,000 9,146,340 0.164 0.17 0.17 0.171 0.162 0.17 1,220,000 205,370 LEPANTO B MANILA MINING A 0.0099 0.01 0.0099 0.01 0.0099 0.01 32,900,000 328,750 0.01 0.011 0.01 0.01 0.01 0.01 7,600,000 76,000 MANILA MINING B MARCVENTURES 1.7 1.73 1.65 1.74 1.63 1.7 3,568,000 6,046,530 1.05 1.06 0.97 1.07 0.97 1.05 706,000 729,420 NIHAO NICKEL ASIA 7.5 7.51 7.23 7.57 7.22 7.5 20,162,800 150,546,610 ORNTL PENINSULA 0.94 0.95 0.93 0.96 0.93 0.95 803,000 755,960 5.7 5.71 5.49 5.74 5.49 5.71 2,260,000 12,832,866 PX MINING SEMIRARA MINING 26.85 26.9 26.85 27.05 26 26.9 1,228,300 32,891,930 0.0072 0.0075 0.0072 0.0073 0.0072 0.0073 26,000,000 188,100 UNITED PARAGON ACE ENEXOR 26.2 26.45 27.5 27.5 25.85 26.45 567,100 14,787,420 0.012 0.013 0.012 0.012 0.012 0.012 5,900,000 70,800 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.013 0.013 0.012 0.013 28,200,000 354,200 PXP ENERGY 5.8 5.9 5.8 5.9 5.72 5.8 207,000 1,202,711 PREFFERED HOUSE PREF B 99.6 101.6 101.6 101.6 101.6 101.6 1,000 101,600 ALCO PREF D 512.5 520 512.5 512.5 512.5 512.5 170 87,125 105 105.8 105 105 105 105 750 78,750 BRN PREF A CEB PREF 47.6 47.95 48.1 48.1 47.6 47.6 46,600 2,231,010 101.6 102 102 102 101.5 102 6,330 643,368 CPG PREF A DD PREF 100.2 100.6 100.3 100.6 100.2 100.2 32,520 3,260,187 105.6 106.5 106.5 106.5 106.5 106.5 500 53,250 EEI PREF A EEI PREF B 110 110.2 110 110 110 110 500 55,000 GTCAP PREF A 993 1,010 993 993 993 993 500 496,500 1,015 1,043 1,015 1,020 1,015 1,020 1,400 1,423,500 GTCAP PREF B JFC PREF B 1,001 1,015 1,001 1,002 1,001 1,001 625 625,725 98 100 100 100 98 98 1,680 165,400 MWIDE PREF 2A MWIDE PREF 4 99.1 100.4 100 100.4 99 100.4 1,500 149,540 100.5 101 100.5 101 100.5 101 42,040 4,245,520 PNX PREF 3B PNX PREF 4 988 990 988 991 988 990 6,430 6,363,740 PCOR PREF 3A 1,052 1,070 1,070 1,070 1,052 1,065 600 639,600 1,077 1,130 1,078 1,078 1,076 1,077 1,765 1,900,880 PCOR PREF 3B SMC PREF 2F 77 78.7 78.9 78.9 78.8 78.8 410 32,319 75.75 75.8 75.8 75.8 75.65 75.8 89,080 6,747,001 SMC PREF 2H SMC PREF 2I 78.45 78.95 78.4 78.95 78.4 78.95 5,470 430,976.50 76.6 77.25 77.25 77.25 76.6 76.6 510 39,072.50 SMC PREF 2J SMC PREF 2K 76 76.95 76 76.05 76 76 2,700 205,210 TECH PREF B2C 51.1 52.95 52.95 52.95 52.95 52.95 170 9,001.50 54.95 55.9 55 55 55 55 22,910 1,260,050 TECH PREF B2D PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12 12.48 12 12 12 12 4,000 48,000 GMA HLDG PDR 13.88 13.9 13.92 13.92 13.88 13.88 58,500 812,974 WARRANTS TECH WARRANT 0.85 0.86 0.86 0.88 0.85 0.86 8,645,000 7,589,390

13,313,870 25,455,209 -1,493,020 1,496,598 127,201 26,318,200 8,510,082 1,612,524 4,613,360 150,393,630 279,342 4,320,435 -489,380 -13,205,000 83,495,136 920 -239,800 -85,353,530.00 -761,348 402,300 -305,000 6,798,301 603,070 -1,360 -9,730 -6,669,200 -52,091,071 -2,610,400 66,325,533 -43,014,728 127,600,510 10,980 -1,761,720 -71,713,300 38,039,300 -17,801,265 -38,420.00 130,074,459 -33,280 16,170 4,385,960 180,122,356 -108,550 -562,650 100 15,862,209 -235,670 -3,006,150 -70,500 -2,455,314 -13,430,705 -5,871,759.50 -328,101 3,360 35,136,115 201,420.00 833,860 2,526,120 21,971 2,502,430.00 1,980.00 968,920 49,992,067 27,900 86,242 3,918,940 -1,114,895 483,720 -52,500 -139,500 -52,600 -53,800 -818,950

SMALL & MEDIUM ENTERPRISES ALTUS PROP HAUS TALK ITALPINAS KEPWEALTH MERRYMART XURPAS

17.02 1 1.08 2.8 2.2 0.41

17.2 1.03 1.09 2.94 2.21 0.425

EXHANGE TRADE FUNDS

FIRST METRO ETF

113

113.5

17.5 1.05 1.13 2.87 2.11 0.42

17.5 1.08 1.13 2.87 2.22 0.42

16.86 1 1.05 2.8 2.09 0.405

17.2 1 1.09 2.8 2.21 0.41

27,700 6,455,000 164,000 41,000 4,562,000 1,740,000

469,092 6,515,470 177,170 115,570 9,944,900 710,550

30,580 6,540 2,800 95,670 45,100

112.1 113 111.9 113 22,770 2,554,532 34,735

www.businessmirror.com.ph

Govt plans to award developers with perks By Cai U. Ordinario

@caiordinario

HE national government is planning to grant incentives to developers to make home ownership accessible to more Filipinos while addressing the country’s housing backlog, according to officials of the Department of Human Settlements and Urban Development (DHSUD). Angelito F. Aguila, officer-incharge director for the Real Estate Development and Regulation Bureau of the DHSUD, said the agency is already in talks with the Board of Investments (BOI) to include rental housing in the Strategic Investment Priorities Plan entitling developers to incentives. According to Aguila, the government can also allow rental housing as compliance by developers to a regulation mandating them to allocate a portion of their project portfolio to socialized housing. “One way of making land available for housing is to unlock idle government land,” he said. “We hear developers saying there is not enough land. The government has plenty of idle and readily available land.” Aguila said these idle lands can be used by developers to build rental properties to increase housing production for the informal sectors and even for the private sector or in partnership. He said increasing housing production cannot be achieved with only the “for sale” scheme, particularly for socialized and economical housing. “We have to come up with other modes of secured housing. We can grant usufruct for housing for those who are not yet ready for homeownership in terms of affordability and preference …by providing temporary rental housing,” Aguila said. “Rental housing is being considered as an option for those who cannot afford homeownership right away and will form part of the country’s 20-year housing roadmap. If we really have to increase our housing production, we have to make our land accessible and utilizable,” he added. Subdivision and Housing Developers Association (SHDA) National President May P. Rodriguez concurs with Aguila expressing the private sector’s openness to undertake this scheme in partnership with local government units (LGUs). Rodriguez said these projects can cater to the needs of informal settler families and government employees. She added there is a market for rental properties, especially from the working population and even students who live in the province. In a recent forum, Rodriguez said the SHDA expects the Philippine housing industry to grow this year as developers clear up the backlog that built up during the pandemic. “In 2020, all private developers experienced a downward trend. Sales were not as good, and collections were a challenge. We understand some of our buyers lost their jobs or shifted their priorities. Fortunately, towards the end of 2020 and 2021, many developers were able to recover, but not yet to pre-pandemic levels,” Rodriguez said. “Private developers were able to accomplish 50 to 70 percent of what they were doing pre-pandemic, and I think the outlook is that it will continue to improve in 2022,” she added. Earlier, the DHSUD said the housing sector’s accomplishments over the past five years, wherein it posted the best performance in terms of annual housing production and financing—with an average of 195,687 per year which is the highest among the previous six administrations since 1975. DHSUD Secretary Eduardo D. Del Rosario said that the housing sector produced and financed more than 1.07 million housing units between the years 2016 to 2021. Hence, Del Rosario expressed optimism that the DHSUD and key shelter agencies would achieve more than 100 percent of the target under the Philippine Development Plan set by the National Economic Development Authority by the end of the year.

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Wednesday, February 23, 2022

BIR to ’22 candidates: Obey tax rules

By Bernadette D. Nicolas

@BNicolasBM

HE Bureau of Internal Revenue (BIR) reminded all candidates, political parties and campaign contributors to register with the agency and comply with tax obligations. In its latest Revenue Memorandum Circular 22-2022 dated February 21, the BIR said all candidates, political parties/party-list groups and campaign contributors are required to register with them, issue official receipts and withhold taxes. The BIR also warned to penalize those who will fail to register and comply with their requirements. “This Circular is being issued in relation to Revenue Regulations (RR) 8-2009 and Revenue Memorandum Circular (RMC) 31-2019 to remind

everyone, particularly those who are running as candidates or participating in any other manner in the May 9, 2022, National and Local Elections, of their obligations under pertinent revenue issuances,” the document signed by BIR Commissioner Caesar R. Dulay read. Moreover, the BIR said all candidates and political parties/party-list groups shall pay an annual registration fee amounting to P500 and be issued a Certificate of Registration. They must also keep books and other accounting records.

On top of this, they must also register non-Value Added Tax (VAT) Official Receipts to be issued for every contribution received, whether in cash or kind valued at Fair Market Value. Generally, campaign contributions are also not included in the taxable income of the candidate to whom they were given. These are also considered exempt from income tax if these were utilized to cover candidates’ expenditures for his electoral campaign during the campaign period. However, the BIR said unutilized or excess campaign funds as well as donations utilized before the campaign period, net of the candidate’s or political party’s/party list’s campaign expenditures, shall be considered as subject to income tax and must be included in his/their taxable income as stated in his/their Income Tax Return. Donations or contributions, whether in cash or in-kind, that have been utilized or spent during

the campaign period are also exempt from donor’s tax except those donations made by corporations in violation of Section 36(9) of the Corporation Code of the Philippines. Income payments made by political candidates and political parties/ party-list groups on their purchases of goods and services as campaign expenditures and income payments made by individuals or juridical persons for their purchase of goods and services intended to be given as campaign contributions to political parties or candidates shall also be subject to five percent Creditable Withholding Tax (CWT). These may include but are not limited to: media services; printing jobs; talent and/or entertainment fees; and, rentals of both real and personal property and/or properties. As for expenses incurred by candidates which were given free of charge, these shall be assessed by the candidate and declare the amount commensurate to the expenses for the use thereof, based on the prevailing rate

in the locality and shall be included in the total campaign contributions received and expenses incurred by the candidate. The 5-percent CWT shall be filed and remitted not later than the last day of the month following the close of the quarter during which the withholding was made. Expenses that were not subjected to the five percent CWT are not considered utilized campaign funds and shall not be claimed as deductions from campaign contributions. Thus, the full amount of the said expense shall be reported as unutilized campaign funds, subject to income tax. Within 30 days after the election, the BIR also said every candidate and treasurer of the political parties/party-list groups shall submit the Statement of Contributions and Expenditures to the Commission on Elections and the Revenue District Office where the candidate, political party or party-list groups are registered.

Payment app operator lets merchants add BillEase at checkout By Bianca Cuaresma @BcuaresmaBM

IRST Digital Finance Corp. (FDFC), operator of card-free “buy now, pay later” (BNPL) platform BillEase, announced last Tuesday its new partnership with Shopify Inc., allowing its merchants to add BillEase at the payment-app checkout. A statement from FDFC read that online retailers can now offer the BillEase suite of BNPL solutions in 10 days to 30 days, pay in four installments or pay monthly, as Shopify merchants now accept payments made through the FDFC platform. FDFC Co-Founder and CEO Georg Steiger expressed in the statement he is “excited to partner with Shopify

and offer this faster integration as we constantly look for ways to improve not only shopping experience but also the user experience for our Shopify merchants.” “Any merchant can now easily incorporate our card-free BNPL solution at their checkout to boost their conversion rate,” Steiger was quoted in the statement as saying. In January, the startup company raised some $11 million in fresh equity that it will use to “further expand and develop products, double its engineering team and attract top talents.” The round is led by BurdaPrincipal Investments Ltd., the growth capital arm of German media and tech company Hubert Burda Media and a backer of Carsome, Ninja Van

and Zilingo, the company said. Other investors in the funding round include Centauri, a joint investment vehicle of Telkom Indonesia’s MDI Ventures and KB Investment and backer of Kredivo, 33 Capital from Singapore and Tamaz Georgadze, CEO and co-founder of European fintech unicorn Raisin DS, Europe’s leading marketplace for online deposits and investments. “The Philippines is expected to be the fastest growing e-commerce market in the Asean [Association of Southeast Asian Nations] region over the next five years,” FDFC Co-founder and CFO Ritche Weekun has said. “The country is fast becoming a red hot destination for venture investments as large funds start looking beyond Indonesia and this, in turn,

is driving the rapid development of the ecosystem.” “The events over the last two years have increased the pressure on the fintech space, in particular, to evolve and we’re seeing growing demand for financial products,” Weekun added. “Our latest round of funding will help us grow at an unprecedented pace, allowing us to further increase financial inclusion in the country.” At the intersection of e-commerce, payments and credit, BNPL services, especially card-free apps, are emerging as key e-commerce enabling technology. “BNPL services often rely on card payments. In the Philippines, less than five percent of the adult population owns a credit card and cash on delivery remains the primary mode

Israel shares with PHL best practices in financial sector’s cyber protection

HE Bankers Association of the Philippines (BAP) announced recently that the organization, the Embassy of Israel in Manila and the Israel Economic and Commercial Mission to the Philippines hosted a virtual event last February 16 focusing on cybersecurity entitled “Optimizing Cyber Protection of the Financial Sector: Best Practices from Israel.” A statement from the BAP last February 22 said that the program was divided into two parts. The first was introducing the unique model of protecting financial institutions in Israel. The second was the pitching of Israeli leading companies with innovative cybersecurity technologies and solutions for the financial sector. Economic Counsellor and Head of the Mission Tomer Heyvi “shared that the purpose of this event is to share the Israeli expertise and technologies in the cybersecurity field in light of the growing challenges and threats that financial institutions around the world, including Philippines, are facing these days.” “My vision for the future of relations between Israel and the Philippines is to see growth in cooperation in innovation and technologies especially in these critical and sensitive areas. Israel has proven itself as a reliable and solid partner of the Philippines, Israeli Ambassador to the Philippines His Excellency Ilan Fluss said in his opening remarks. “Therefore, I believe we should see more partnerships in the cybersecurity area.” Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno noted some key areas for collaboration. The central bank governor said these areas include threat intelligence platform and setting up a national computer emergency response team (CERT) given the industry-wide initiatives in the Philippines and the maturity and sophistications of Israel in terms of cybersecurity controls and management. “I hope this session will strengthen ties and cooperation between Israel and the Philippines so that our respective financial services sectors remain safe, innova-

of payment. To address this problem and expand the target market, we developed our proprietary credit, fraud and payment stack,” Steiger has said. “While this requires more upfront investment, we are actually solving a more fundamental problem for customers and allow us to create long-term relationships.” FDFC launched BillEase in 2017 “to provide merchants with installment solutions to boost their conversion rate and average order values by enabling customized installment payment products at checkout.” For consumers, BillEase serves as an alternative to credit/debit cards and e-wallets when shopping online. The FDFC platform is currently partnered with more than 500 online and offline retailers.

Hold session on fuel-tax moratorium–Pacquiao By Jovee Marie N. dela Cruz @joveemarie

This February 16 photo courtesy of the Bankers Association of the Philippines shows (clockwise) Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, Israeli Ambassador to the Philippines His Excellency Ilan Fluss and Israel Economic and Commercial Mission to the Philippines Head Tomer Heyvi during a virtual forum on the best practices of Israel in cyber protection of the financial sector. Photo courtesy of the Bankers Association of the Philippines

tive and resilient in the digital economy,” Diokno added. Additionally, BAP President Jose Arnulfo A. Veloso highlighted in his remarks that cybersecurity remains to be a top priority of the association. Veloso shared a number of advocacies of the BAP to promote and intensify its cybersecurity framework in the Philippine banking and financial services sector. “Together with the partnership of the guests in this forum, we can take them [cyberthreats] head on,” Veloso noted. On the other hand, Doron Liberman, Director of International Cooperation Development in the Israel National Cyber Directorate (INCD), said that the Israeli national approach and strategy to the cybersecurity ecosystem as a whole in the civilian sphere. “The INCD looks at its constituencies in different layers: critical infrastructure, sectoral and general public,” Liberman said in his remarks. He further shared that the INCD is a national agency that provides national intelligence and active defense tools and methodologies and awareness events where their assistance is needed. Rahav Shalom-Revivo, head of the Financial-Cyber Innovation and International Engagements from the Israel

Ministry of Finance, shared the multinational financial cyber simulation that the Ministry executed with countries that Israel has financial cyber relations with. In that simulation, Shalom-Revivo highlighted that international collaboration is key and that there must be synchronization between finance and cyber decision makers. “The collaborative understanding that only together we can overcome such dramatic attacks that at some point in time will happen in the future,” she added. A study case highlighting the power of collaboration was shared by Eden Cohen, security head of security operation center of Bank Hapoalim, the largest commercial bank in Israel. Cohen shared that in the last three years, there has been a significant rise in organized cybercrimes towards financial organizations by new and advanced tactics to penetrate the digital world. With this, she highlighted that the best way to handle the new generation-attackers is by collaboration as a necessity to protect ourselves and our customers. She added that collaboration between people, businesses, technology, intelligence, and enforcements is a key factor to be able to face cyber-attacks in a quick and thorough way.

ROBINSYA Muna Development Initiative (Promdi) Presidential Aspirant Emmanuel “Manny” D. Pacquiao on Tuesday backed the call on the Senate leadership for a special session to pass a counterpart measure seeking a moratorium on the imposition of excise tax on petroleum products. In a news briefing at his campaign headquarters in Makati City, Pacquiao said he is also against any kind of tax increase, especially when the economy has severely suffered and many Filipinos are unemployed after government imposed several lockdown measures to address the pandemic. “I am against the proposal increasing taxes” he said. “What we need is to strengthen our non-revenue income like income from public utilities and GOCCs [government-owned and -controlled corporations].” Pacquiao added that, if elected, he will focus on non-tax revenues rather than imposing more taxes to fund government programs. Due to the skyrocketing prices of gasoline and other petrol products, the House Committee on Ways and Means has approved a bill seeking to reduce excise taxes on certain petroleum products for a period of six months. The bill is currently pending on second reading in the Lower Chamber. In its oil monitoring page as of February 15, the Department of Energy (DOE), oil companies implemented a price increase in domestic oil products. “Gasoline has increased by P1.20 per liter, diesel by P1.05 per liter, while kerosene has risen by P0.65 per liter,” the DOE document said. The DOE said the price hikes “resulted to the year-to-date adjustments to stand at a total net increase of P7.95/liter for gasoline, P10.20/liter for diesel and P9.10/liter for kerosene.” The House version of the bill aims to reduce excise taxes on diesel, kerosene and liquefied petroleum gas to zero. Under the bill, excise taxes on low-octane gasoline, used primarily by tricycle drivers, will also be reduced to P4.35 from the current P7, while taxes on premium gasoline will be retained at P10. This proposal will cost the government around P45 billion. According to Pacquaio, he would support any move to hold a special session to rush the approval of the Senate’s version to suspend excise-tax collection for petroleum products. He also believes there’s an oil cartel and, hence, said the books of petroleum companies must be opened to clear up any irregularities and collusion: “Naniniwala akong may sabwatan [sa cartel] kaya dapat na silipin ang kanilang libro para malaman natin ang katotohanan dito.”

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Wednesday, February 23, 2022 • Editor: Gerard S. Ramos

NEW BABY

THE actress is way past her child-bearing years but, technically, she can still give birth. If the rumors are true, the actress will give birth sometime this year. The alleged father is not her estranged husband but reportedly a controversial politician who is close to the current administration. So it’s safe to say that unlike other members of her family, she is not voting pink if these rumors are true. There’s really nothing wrong if the actress has a boyfriend or is pregnant. However, the controversial politician is very much married. His wife is very much around and if it is true, this liaison could very well affect the man’s political ambitions and the actress’ plans for a grand comeback. The years have not been good to the actress. Maybe a new baby, if the rumors are true, will help her get out of the slump she’s in.

Tom Holland’s latest adventure ‘Uncharted’ tops box office

BRIDE-TO-BE

THERE are rumors the actress and her rich boyfriend have split because they seem to be no longer following each other on Instagram. Well, it appears that the guy simply changed his name on Instagram, which is why he no longer seems to appear on the actress’ following list. The actress has long dreamt of marrying a rich guy and it will finally be a reality next month. The actress has had a number of serious relationships, including a longterm one with a guy who left her for another actress. So, this wedding should be a very happy one. She and her fiancé are no longer young so they’re most probably taking the plunge because they’re ready.

REFORMED MAN

THE non-showbiz guy married to an actress must be a reformed man now. His ex, another actress, was so traumatized by their relationship because she claims that he would hurt her physically. The guy’s wife is a strong and independent woman who would not likely allow such abuse to happen so it’s probably safe to say that he’s a changed man. The relationship of the guy and his ex was so tumultuous that the girl had a nervous breakdown after they split. She took a long time to recover from what happened because she didn’t know if she was the guy’s victim or enabler.

GOOD GIRL BUT NOT REALLY

THERE are many horror stories about the TV host-singer and at this point, we don’t even know what’s true or not. But what is true is that she liked to play tricks with her co-stars. For instance, if the call time for a taping was 8 am, she would tell her co-stars that it was moved to 9 am and then she’d arrive at 7:30 am. This way, she’d look good in front of everyone while her co-stars would look unprofessional. This was one of the reasons why she was always a favorite of her network.

www.businessmirror.com.ph

By Lindsey Bahr The Associated Press

OM HOLLAND might be without his SpiderMan suit in Uncharted, but his latest actionadventure is still doing good business at the North American box office. The video game adaptation starring Holland and Mark Wahlberg is on its way to earning $51 million over the long Presidents Day weekend, according to studio estimates Sunday. Sony Pictures estimated its Friday through Sunday grosses will be $44.2 million, putting it at No. 1. Though not a superhero payday, it’s enough for the industry to breathe a sigh of relief as it’s the biggest opening weekend since Spider-Man: No Way Home. The weekend’s other new opener, Dog found a modest audience too and landed in second place. The unpredictability of pandemic-era audiences made Uncharted a bit of a wild card, and the poor reviews from critics had some going into the weekend with cautious optimism. The Ruben Fleischerdirected pic, based on a PlayStation game, opened on 4,275 screens. “This result is yet another extraordinary testament to the appetite for the theatrical experience that Sony Pictures bet on,” said Josh Greenstein, the president of Sony Pictures Motion Picture Group, in a statement.

Today’s Horoscope By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Dakota Fanning, 28; Niecy Nash, 52; Kristin Davis, 57; Patricia Richardson, 71. HAPPY BIRTHDAY: Put pressure on time-sensitive matters this year to avoid setbacks. Staying on top of your plan is your ticket to success and personal freedom. Calculate and put your money where it brings the highest return. Refuse to put others first when it can negatively affect something important to you. Strive for completion and perfection. Live life your way. Your numbers are 9, 15, 22, 24, 37, 40, 46.

Sony also released the megahit Spider-Man: No Way Home exclusively in theaters late last year. That Holland-led enterprise has now earned over $770.1 million in North America and is the No. 3 domestic release of all time. “Tom Holland is a megastar regardless of whether he’s Peter Parker or Nathan Drake,” said Paul Dergarabedian, the senior media analyst for comScore. “For many of the actors who have portrayed superheroes, breaking out of that role and having big box-office success outside of that is a tough go.” Uncharted does have a ways to go to make up its $120 million production budget, which will likely be heavily offset by overseas earnings. Its global total has already surpassed $100 million and, unlike SpiderMan, Uncharted will also get the benefit of a release in China, beginning March 14. Channing Tatum’s Dog, which he codirected (with his longtime producing partner Reid Carolin) and stars in, also opened on 3,677 screens this weekend. United Artists estimates that it’ll earn $15.1 million for the weekend and $18.1 million including Monday. Tatum plays an Army ranger tasked with driving a traumatized military dog from Oregon to Arizona for her handler’s funeral in the film, which was received well by critics and audiences. Plus, it only cost around $15 million to make. The PostTrak survey shows that the opening weekend audience for Dog was 53 percent over age 35 and 54 percent was female. “To have two movies do really solid business makes it feel like 2019 all over again,” Dergarabedian said. In its second weekend Kenneth Branagh’s Death on the Nile landed in fourth place with $6.3 million, behind Spider-Man, while Jackass Forever took fifth place with $5.2 million. According to Dergarabedian, the momentum from this weekend should be the “perfect leadup” to the already highly anticipated release of Warner Bros. The Batman on March 4. “Think about all the people in the movie theater this weekend being exposed to trailers,” Dergarabedian said. “This is great news for The Batman.” n

Mayor Joy Belmonte inducts into office 2022 PMPC officers By Leony Garcia The Philippine Movie Press Club Inc. (PMPC) recently held the oath-taking ceremony for its newly-elected officers and board of directors for 2022. Still following strict health and safety protocols for Covid-19, the ceremony was held at the al-fresco dining area of Annabel’s strictly for the officers, the mayor’s select staff, and a handful of guests. Quezon City is acknowledged to be the City of the Stars. The LGU is bent on strengthening this reputation with various projects being done continuously, among them the upgrading of its Movie Museum, the holding of QC International Film Festival annually, and the development of the newlynamed Fernando Poe Jr. Avenue (formerly, Roosevelt Avenue) into a meaningful, historical tribute site for the late king of the movie industry. In her speech, Mayor Belmonte encourages the PMPC for a proactive stance with the LGU to live up

ARIES (March 21-April 19): Put your differences aside, and focus on what’s important and how you can reach your goal. Connect with people who offer insight in areas where you lack information. Combining your skills and knowledge with others’ will achieve the best results. HHHHH

TAURUS (April 20-May 20): Be careful who you trust when dealing with sensitive issues. Someone will make assumptions and offer an exaggerated opinion. Do the legwork yourself. Be resourceful, direct and cautious regarding how you proceed. Actions speak louder than words. HHH

GEMINI (May 21-June 20): You can tie things together by researching your objective. Don’t trust what others tell you; firsthand information from an expert will ensure you get things right and avoid a glitch that can be costly. Trust in your ability to get things done. HHH

CANCER (June 21-July 22): Do the work yourself; if you count on someone else, you will be disappointed in the results. Speak from the heart, be honest and fair, and don’t be afraid to express how you feel to someone you love. Romance is encouraged. HHH

LEO (July 23-Aug. 22): A little socializing will lift spirits, but you will pay the price if you overdo it. Put a limit on your spending, and stick to healthy options that benefit you mentally, physically and emotionally. Share ideas and plans with someone special. HHHHH

VIRGO (Aug. 23-Sept. 22): Stick to the truth, or prepare to explain any discrepancy. Choose your words carefully, and be prepared to back the gestures you make. Change can be positive if you go about it properly. Keep those affected by your plans in the loop. HH

LIBRA (Sept. 23-Oct. 22): Be bold and express your true feelings. Share ideas, network and make plans. Taking on something that is cost-efficient will add to your knowledge and experience, and encourage you to reassess your options. Take control instead of being controlled. HHHHH

SCORPIO (Oct. 23-Nov. 21): What you want to do and what you should do will conflict. Stop fretting, and put a schedule in place that will accommodate both. It’s up to you to set things up to suit your needs. Be original and have faith. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Don’t be fooled by emotionally manipulative situations. Know when to say no or back away from situations and people who aren’t to your benefit. Use your intelligence to navigate your way through encounters that can affect your well-being. HHH

CAPRICORN (Dec. 22-Jan. 19): Make decisions before someone makes them for you. Look at change as a learning experience, and delve into situations with an open mind. A unique offer will have more substance than you think. Don’t rule out an opportunity to change direction. HHHH

QUEZON CITY Mayor Joy Belmonte (seated, center) with the newly-inducted PMPC 2022 officers, from left: John Fontanilla (auditor), Lourdes Fabian (treasurer), Mildred Bacud (assistant secretary), Leony Garcia and Francis Simeon (public relations officers), (standing, from left) Eric Borromeo, Sandy Es Mariano, and Rommel Placente (board members), Mell Navarro (secretary), Fernan de Guzman (president), Rodel Fernando (vice president), Boy Romero (assistant treasurer), and Joe Barrameda, Roldan Castro, and Jimi Escala (board members).

to its name as the City of the Stars. “We would like to invite you to collaborate with us, come up with ideas, and contribute to our aspiration. I am glad to note that many of you are residence of Quezon City,” she said. The PMPC, headquartered in Quezon City, is a group of professional and active showbiz writers, editors of newspapers and tabloids in the country,

online influencers and vloggers, and radio/TV/online reporters who cover the local entertainment industry. For years, this non-profit organization functions as an award-giving body recognizing deserving members of the local entertainment industry through the PMPC Star Awards for Movies, PMPC Star Awards for Television, and the PMPC Star Awards for Music.

AQUARIUS (Jan. 20-Feb. 18): Sensitive issues will surface, but consider the consequences before you get entangled in something brought on by someone else. It’s OK to take a pass and focus on something that interests or benefits you personally. Protect your emotional well-being. HH

PISCES (Feb. 19-March 20): Take charge and get things done. The difference you make will draw attention and support to carry on with your plans. Use your ingenuity, strength and courage to do what you feel is right. The people you touch will show gratitude. HHHHH BIRTHDAY BABY: You are forceful, unique and demonstrative. You are persuasive and charming.

‘high Cs’ BY PAUL COULTER The Universal Crossword/Edited by Amanda Rafkin

ACROSS 1 Kid’s motorized wheels, informally 6 Design deet 10 They’re often found in jewel cases 13 Hertz alternative 14 “Hello,” in Spanish 15 Pate de ___ gras 16 Meetups from Bumble 17 Streaming service with the show Love, Victor 18 “I’ll pay for this one” 19 Like a pilot with a fear of heights 21 People who are always off? 23 Klutzy person 24 Dumps pet food into the water bowl 26 Color, like a cartoon 27 Blender setting 29 Sweetie 30 “Psych!” 32 Hoax 34 Brown with a skillet? 36 Molten rock 37 Water-resistant cover 38 Calves’ milk sources 39 “Yeah, right!” 40 Doesn’t feel too hot

41 “The gram” 42 “Dream a Little Dream of Me” singer Fitzgerald 43 Angular head? 44 Parking area 45 Words on a candy heart 47 Dwelling in the woods 49 Gorillas, e.g. 50 “When are you getting here?”: Abbr. 53 “Never mind!” 55 Send for 57 Tavern brews 58 Think tank result 60 Corp. shake-up 61 “When all is said and ___...” 62 Ferret relative 63 Writing without metrical structure 64 “___ is not what you see, but what you make others see” (Degas) 65 Jazz singer James 66 Mister, in Spanish DOWN 1 AM/FM device 2 The Nutcracker girl 3 Cool dude in the House of Commons?

4 5 6 7 8 9 10 11 12 15 20 22 25 28 29 31 32 33 35 36 44 46

“You got that right!” More optimistic “Be quiet!” Fills a cup Hearns who founded the Marsha P. Johnson Institute Warn a corporate department that works with Marketing? Pine part flavoring a certain wheat ale? Piece of pulp fiction Goes out with Censored version of a certain curse word in The Good Place Genesis, in the Old Testament? Traveler’s lodging Yield Diamond experts? Bit of inside info “Ciao!” “Now!” Blond or black, e.g. Aides for profs Ray Donovan star Schreiber Extremely fun Takes by force

48 Safe place? 49 All Boys ___ Blue (George M. Johnson memoir) 51 Midsection 52 Boiling emotion 53 Zilch 54 Polish, like writing 56 ___ mortal 59 Alias letters Solution to today’s puzzle:

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www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Wednesday, February 23, 2022

All aboard the workplace TACKLING MENTAL HEALTH IN THE MEDIA INDUSTRY By Pauline Joy M. Gutierrez AS Covid-19 cases oscillate in major metropolitan areas in the country, the impact of the pandemic continues to affect workers, particularly those in the media industry. Media intelligence platform Telum Media gathered journalists, mental health advocates and well-being experts in the webinar “Workplace Well-being in the Media” to share their views and expertise around mental health in the newsroom. The panelists included CNN Philippines correspondent Rex Remitio, CNA Digital senior journalist Grace Yeoh, Philippine Star deputy editor for health Tan Shiow Chin, and Vigour PR founder and managing director Lynda Williams, who is also the co-founder of The Soothe, a wellness-centric digital media company. One of the main topics of discussion was how reporters have to deal with an endless news cycle paired with tight deadlines and long working hours, which can cause stress, burnout, anxiety and fatigue. Add to this the work and life imbalance caused by working remotely or from their homes. “The lines certainly [have gotten] blurred. People would wake up early and would finish really late,” said Williams. She shared that this can be solved by reducing the hours of work by practicing time management to avoid having work spilling over into their personal time. Employers, in turn, should work on improving task allocation and manpower, and managing client expectations. Workplace toxicity, which is hugely detrimental to employees’ mental health, was also discussed during the event. Toxic work environments breed unrest, competition, low morale, constant stressors, negativity, sickness, high turnover, even bullying. The effects of these can show up in any number of physical symptoms, including sleepless nights, feeling constantly vigilant, and a sense of unrest. According to Williams, “If you are suffering, it’s important to start noting down exactly what happened and when it happened, the cause and the ramifications [of such behavior].” “If [management] or Human Resources are not understanding [the situation] or are unable to come up with a solution, then it’s time to walk away,” she said. “Be aware that you don’t help feed [such] toxic culture,” noted Yeoh, who added that workers must take responsibility for their own behavior and not get involved in that toxic cycle or feed into the toxic culture by breaking out of the cycle. Workplace well-being extends to a sense of psychological safety and a nurturing environment where people feel comfortable being themselves. Journalists present during the event shared ways to avoid burnout including untangling one’s identity from work and finding purpose elsewhere, scheduling regular holidays and breaks, identifying stressors and paying more attention to self-care. More than this, Chin emphasized that normalizing conversations about mental health and raising literacy on how to cope with stress should be standard measures in any organization.

HEN I joined learning and development almost a decade ago, I was tasked with creating an orientation program for new managers. The office had a five-day orientation for all new hires but based on experience, managers needed more information which rank and files did not appreciate. In another organization, I had new members come in who had their new hire orientation from Human Resource, but we discovered they lacked orientation on the team’s processes and workflows. So, I made an onboarding material for new members by asking them to go through the tools and forms we used, and the end of their orientation would be a prototype of the learning material they will develop. This made it easier for me to deploy them to work group supervisors who were already implementing the processes. If you do not have an onboarding program, now would be a good time to develop one. Below are some of the benefits of having an onboarding program. One of the advantages of having an effective onboarding program is the easy facilitation of the person into the team. They will easily understand their role as part of the team and how they can contribute to the team’s success. You avoid miscommunication because you can set clear responsibilities and expectations. This also provides the venue for them to ask questions and clarify any issues they may have prior to joining the team, and also allow new team members to manifest their own expectations. Having clear roles and responsibilities will also help improve their job satisfaction and performance. It makes sense considering that they already know what is expected of them. During onboarding, you will also have an idea of how they will fare in the group and alert you to any training needed by the new member, or any other issues that might affect their motivation or performance. Orienting new members and knowing their learning needs also prevents early attrition. When new members recognize their place in the team and how they can significantly contribute to its success, they find meaning in what they do. When they feel at ease in their new environment and understand the team dynamics better, it becomes easier for them to communicate their ideas in improving how the team does its work. In crafting your onboarding program, I have several suggestions. First, create an onboarding program that focuses on the experience of the new hire, and not the program itself. There are some organizations who implement an onboarding program merely for the program itself, so they are

focused more on developing the materials than on the actual experience of the new hire. Some organizations’ orientation materials are outdated or cover only the basic minimum, such that the employee is left with more questions than answers. On the other hand, some onboarding programs are loaded with so much information that new members have a hard time taking in all the information. To maximize the onboarding experience, focus on how the new member would experience it. If possible, create an onboarding program from the organizational level and the department level. Information needed by everyone should be discussed in the Human Resources orientation. As a people manager, you want new members to contribute to the team’s success as soon as possible. The only way to do this is when they become acclimatized to your team’s process and tools. To make it easy for them to adapt, have them go through all the processes and tools so you can identify which ones they need help in. You can then partner them with someone in your team who is an expert and show new members how they are used. An important element in the onboarding experience is their connection to the team. You cannot expect them to instantly get along with all the members. Find someone in your team who can be a buddy for the new hire. To ensure they get along well, assign someone who has the same interests or personality as the new member and one who can also teach them the processes and tools of the team. You also want to partner them with someone who is more or less close to one you would consider an exemplary member of the team, so new members develop the

same work disposition you want other members of the team to follow. When developing your onboarding program, you also need to include the team’s cultural elements and the informal organizational structure in your team. Discuss not just the protocols in the team but also the different activities outside of work, and the different departments the team engages with regularly. You can also alert them to difficult teams or people in the organization but focus on how to get the work done more than gossiping about specific people. They need to know these so they can position themselves better and avoid common mistakes of new members. And lastly, seek to continuously innovate and refresh the program. You can do this by conducting a survey after the onboarding program, and another one 30 days after. Questions should be designed to identify what parts of the onboarding program need to be improved, which parts are specifically helpful in the fulfillment of their work, and which ones they have difficulty applying. You can also do a focus group discussion to validate the survey results and provide insight into the respondent’s answers. It can also help you uncover other issues which might not be covered by your survey. Just as organizations are looking at customer experience to guide the innovation of their products and service, so should people managers focus on improving the new hire experience to keep their talents. I guess the problem is when leaders think of onboarding as just a program, and not an opportunity to fast-track the learning curve of new hires. Once they see its value, they will find innovative ways of onboarding new employees.

PHOTO BY PROXYCLICK VISITOR MANAGEMENT SYSTEM ON UNSPLASH

Where have the workers gone?: Achieving ‘great retention’ through strong employer branding By Erick Rodriguez AMZ AllStars founder, and CEO THE sudden and mass departure of workers these recent months, aptly called the “Great Resignation,” may seem like a one-time and random event. In reality, however, it is the culmination of a series of events and factors with the pandemic and resulting changes serving as a major trigger. Long working hours without proper compensation, lack of career and personal growth opportunities, systemic work setup problems and poor working relationships, especially with direct supervisors, have long turned away employees. On-site reporting despite rising cases of infections, limited or no health insurance, and lack of concern or support for those working from home, coupled with constant fear and anxiety about the future aggravated employees’ work concerns. The feeling of detachment from officemates, the management and the company that comes with working remotely do not help with retention either. As the workplace continues to evolve to adapt to changes, so do the priorities of workers. Physical and mental health, child care, and work and life balance are increasingly becoming nonnegotiables for employees, prompting many to revisit their current work situation and rethink whether their needs and preferences are actually being met. Concerns about the future are spurring many to evaluate long-term plans. Q2 2020 Philippine Statistics Authority data reveals that in the National Capital Region, 23.3 percent of cases of work separation initiated by employees were caused by personal issues, second only to hiring by other companies at 25.2 percent. As

for employer-initiated separations, floating due to Covid-19 was the top reason at 65.8 percent, followed by project completion or end of contract and then downsizing. The workplace dynamics have been steadily transforming beyond just work schedule and structure. While it’s not strange for employees to take their skills elsewhere if they feel their efforts are not appreciated enough or they are not getting the right compensation for the work that they do, the pandemic changed people’s perspectives. People are not only realizing their individual and collective value at work and expecting better working conditions, but they are also actively looking for companies that acknowledge their worth and support their changing and relevant needs, even for the long term. With the majority of employees still working from home and having more time to contemplate and less physical connection with co-workers, the resignation situation is less likely to change anytime soon, especially if employers fail to look at the big picture. Losing employees, especially key positions, can be very costly, and not only in the financial sense. Staff turnovers affect overall efficiency and productivity. The skills, competencies and even network employees take with them elsewhere likewise inadvertently impact a company. Getting new hires up to speed means new investment and can take time, and keeping them can mean additional costs. Employers have the opportunity to create more meaningful and necessary changes that will not only impact day-to-day transactions but also establish a healthier, more sustainable office culture that their current and future employees will appreciate. More than appropriate compensation and benefits, workers need policies and institutionalized mechanisms

that ensure and sustain work and life balance and flexibility alongside efficiency, productivity, growth and of course better overall workplace dynamics. At AMZ AllStars, a leading operator of large eCommerce brands on Amazon established in 2019, we encourage our employees—our AllStars—to act as stakeholders and owners of their output and

own growth instead of just nine-to-five employees. We want them to have a deep understanding of the importance of their work to help them create better experiences for themselves and our customers. In only two and a half years, AMZ AllStars was able to attract and nurture 250+ employees despite the global health crisis. We credit this success, along with our “Great Place to Work” certification in 2021 and 2022, to our strong employer branding. Having a strong employer brand means having a clear employee value proposition that seeks to develop employee skills and help them achieve a greater sense of purpose while establishing and promoting good company culture. At the onset of the pandemic, with fears and uncertainty palpable in the air, one of the first things we invested in was the creation of company videos showing the safety protocols in our offices and on-site operations, while emphasizing that training would be limited to a few weeks in-person, before sending them permanently remote. This helped put our current employees and applicants at ease as they know we prioritize their health with our hybrid work model. Commercial deep cleaning before and after training sessions are also regularly done to ensure safe and comfortable working conditions. That employees are the backbone of an organization is not a mere catchphrase for us. Through a holistic approach from hiring to training through growth and advancement, we strive to turn this era of resignation into an era of acceptance and retention. All of these start with finding the right people and trusting and nurturing their potential, and supporting them along the way. By empowering our people, not only do we help them to grow as leaders in their own way, but we also ensure that they can serve our community better and more meaningfully.

ERICK RODRIGUEZ, AMZ AllStars founder talks about curbing the “Great Resignation.”

B6 Wednesday, February 23, 2022

MRSGI eyes more initiatives to strengthen community ties

DoubleDragon amends primary purpose of its Hotel 101 offshore subsidiary

OUBLEDRAGON Corporation’s (“DoubleDragon”) offshore subsidiary, Hotel 101 Worldwide Private Limited “(Hotel 101 Worldwide)”, completed the change of its principal activities on Singapore’s Regulatory Authority. The amendment in Singapore‘s Accounting and Corporate Regulatory Authority (ACRA) is covered by Receipt # ACRA220211134043 dated February 11, 2022. The change and update of its primary and secondary activities now allows it to conduct acquisition, investment and development of real estate properties and ventures, as well as conduct real estate sales, marketing, operations and management of the Group's projects outside the Philippines. The expansion may be directly by Hotel 101 Worldwide or through partnerships and joint ventures with other property developers in other countries. Given this development and the latest easing of restrictions of the Covid19 pandemic, DoubleDragon expects to acquire its first property for development in Asia by the second quarter of 2022, and launch by the second half of 2022. DoubleDragon has shortlisted sites where Hotel 101 is expected to be patronized by local and foreign tourists as well as Filipinos who visit that country for business or leisure. The first Hotel 101 project outside the Philippines is also expected to give Filipino investors a chance to make their first offshore real estate investment with affordable payment terms for their

hybrid condotel Hotel 101 investment. The concept patent of Hotel 101’s pioneering condotel concept has already been filed. The Hotel 101 trademark and domains have been secured in various countries of the world. The Hotel 101 concept is a hybrid condotel model where all the units or “Happy Rooms” as they are called are identical, thus, allowing all unit owners to have an equal share in the revenues of the Hotel 101 property. The Hotel 101 App for both Apple iOS and Android will be launching soon. The unique Hotel 101 asset light concept allows DoubleDragon to generate revenue and income twice, first from the pre-selling of the Happy Rooms, then second after the project is constructed it generates long term recurring revenue from hotel operations. Hotel 101-Manila in full year 2021 achieved an average occupancy rate of 96.03 percent.

“The development and completion of these new Hotel 101 projects will be perfectly timed with the full recovery and anticipated rebound in the tourism industry. We believe in a couple of years, all this pent up demand for tourism will cause an unseen surge in demand for hotel rooms across the globe,” said DoubleDragon Chief Investment Officer Hannah Yulo-Luccini. “We have observed that the US has Holiday Inn, Europe has Novotel, China has Jinjiang Inn, Malaysia has ShangriLa, Thailand has Dusit, Japan has Nikko, Singapore has Raffles, but the Philippines has none. We have also observed that in other countries, many have a strong mindset of gearing their businesses for export. Pursuing business ventures, brands and concepts that are geared to be exported to the 195 countries globally is truly admirable,” said DoubleDragon Chairman Edgar “Iniap” Sia II.

Celebrating 50 years: Avis launches app for premium chauffeur booking services

VIS Philippines heads into its 50th this year. And it does so with much pride and joy as it marks a new chapter of dynamic leadership under CEO and President, Celia G. Lazaro, the second-generation franchisee of the country’s most trusted transportation service provider. (The Guevaras, under Domingo M. Guevara, first secured the franchise in 1972.) “For decades, Avis Philippines has been going the extra mile to deliver service that’s beyond expectation. And now, we’re so excited to develop new practices and systems in line with digitalization,” says Lazaro. “As we head into a more competitive digital future, we’re committed to innovating and creating new products and services that will make us more accessible to a younger generation!” The company has endured for decades due to its ability to adapt to the ever-changing market and consumers. “Our services reflect

our commitment to our customers. We will continue to evolve, adjust, and innovate to meet the demands of our discerning clientele,” shares Marketing Head Tatyana Guevara-Hipolito. Now, as it celebrates it golden anniversary, Avis is taking the rider experience to newer heights with its latest innovation – the Avis Mobile App - which brings premium chauffeur services to your fingertips. Be driven in style wherever you want to be! Designed with improved user accessibility,

the app allows you to conveniently prebook your own premium ride-with choice of sedan, van, and premium vehicles. Ride in style point-to-point or on an hourly car rental basis to enjoy your own personal chauffeur services. Just book at least four hours before pick-up. With the latter option, your chauffeur can even help you with errands and shuttle you to and from all your destinations. This is service at its best! All Avis vehicles are fully equipped with COVID-19 amenities, and are disinfected for every ride. In addition, their roster of chauffeurs are all fully vaccinated and are well-trained on safety and security protocols. What sets Avis apart is their premium service at reasonable rates and the unmatched expertise of their chauffeurs. “Proudly, we’ve been the longstanding partners of our clients for years, because they trust us with the big and small responsibilities. We take pride in the fact that for decades, we’ve been the one they can rely on and whom they call on to help make their daily lives better and easier – whether it’s picking up loved ones from the airport or hospital, ensuring the safety of their children with rides to and from school and other destinations, or even just making their daily commute a little more luxurious and hassle-free. We’re happy to be of service,” adds Guevara-Hipolito. Through the app, Avis expands its offerings and is now able to cater to the wider, more digitally savvy crowd. Though, loyal patrons can still book via Facebook and their hotlines. “This year, we have so many initiatives lined up to mark our 50th milestone. We will continue to go above and beyond, so our customers can too. ‘We Try Harder’ is more than just a statement for us. It’s something we make real every single day. We look forward to seeing you on your next ride!” ends Lazaro. Download the Avis Mobile app on Google Play and the Apple Store. For more information, call 8462-2881 to 83 or email confirmation@avis.com.ph.

S mobility restrictions gradually ease up, Metro Retail Stores Group Inc. (MRSGI) looks forward to conducting more face-to-face outreach with its community partners. The company believes that complementing its social responsibility initiatives with warmer connections, such as those that have been successfully established during physical or onsite interactions, can lead to greater success of its programs. “The digital avenues are wonderful for having allowed us to continue pursuing our CSR programs and introduce innovative ways of connecting with our stakeholders,” said Anna Marie Periquet, MRSGI Vice President for Corporate Affairs. “Now that physical activities are returning to more normal levels we will take this opportunity to re-establish in-person connections at the heart of our endeavors.” For over three decades, MRSGI’s initiatives have served not only to improve the lives of Filipinos but also as vehicles for its customers to contribute to their positive impact on the communities. These programs are being implemented through partnerships with various entities, providing scholarship and livelihood opportunities, as well as retail access, to marginalized sectors, small-scale farmers, and SMEs. By working with eco-farming communities, MRSGI helps with these organizations’ goals of promoting sustainable agricultural practices, raising farmers’ productivity and income, and bringing a greater variety of healthy, sustainably produced products to the market. These communities include GreenEarth Heritage Foundation, which supports the educational scholarships of farmers’ children in Sierra Madre, Bulacan; and Kiboa Ridge Farms, which upholds

the livelihood of small-scale farmers in Bukidnon. Being in the retail industry, promoting a safe and healthy environment is also of utmost priority for MRSGI, which amplified its commitment during the pandemic by expanding its health programs. It partnered with the Department of Health for its Bida Solusyon campaign promoting individuals’ role in the fight against COVID-19, and launched its Daghang Salamat social media campaign series to pay tribute to the dedication and resilience of its service personnel and social entrepreneurs at the height of the lockdowns. Moving forward, MRSGI will continue to connect with the DTI, the DOH, and other partner organizations, and make new alliances with other entities to enrich its livelihood, education, and healthrelated projects. “We believe that support from a major retailer like Metro can bring attention to the noble causes of our partners, and open up more avenues of participation for our customers,” said Periquet. To know more about Metro Retails’ CSR projects, you visit https://www. metroretail.com.ph/index.php/csr

Supply chain sector looks beyond China

IOLENT and profound short- and long-term changes in the structures of the supply chain sector stemming from political influence in China and exceptional disruption due to quarantine policies are making the players more intensive and globalized, according to a new report. As a result, threats to global trade patterns in 2020-2022, including political tensions,

rising fuel cost and port congestions due to the coronavirus contagion don’t seem to have much impact on the sector, with trade value surging despite shrinking volumes, Transport Intelligence analyst Michael Cullen said. For the full report, visit https://www. portcalls.com/supply-chains-look-beyondchina-in-structure-shift/

CSC warns civil servants against electioneering

S the country began the official campaign period for the 2022 national and local elections, the Civil Service Commission (CSC) reminded civil servants not to engage in electioneering and partisan political activity. The CSC said that such acts are prohibited under the 1987 Constitution and other laws and statutes, with the aim to ensure that civil servants are focused on the discharge of their duties and functions and to insulate them from politics. Under Commission on Elections (COMELEC) and Civil Service Commission (CSC) Joint Circular No. 001, series of 2016 dated 29 March 2016, electioneering and partisan political activity refers to any act “designed to promote the election or defeat of a particular candidate/s or party/ ies to public office.” These include the following prohibited activities: Forming organizations, associations, clubs, committees, or other groups of persons for the purpose of soliciting votes and/or undertaking any campaign for or against a candidate/party; Holding political caucuses, conferences, meetings, rallies, parades, or other similar assemblies for the purpose of soliciting votes and/or undertaking any campaign for or against a candidate/party;

Making speeches, announcements, or commentaries, or holding interviews for or against the election of any candidate/ party for public office; Publishing, displaying, or distributing campaign literature or materials designed to support or oppose the election of any candidate/party; or Directly or indirectly soliciting votes, pledges, or support for or against a candidate/party. The said joint circular also identifies the following as prohibited acts: Wearing of t-shirts or pins, caps, or any other similar election paraphernalia bearing the names of the candidates or political party except as authorized by the Commission on Elections; Being a watcher for a political party or candidate during the election; Consistent presence in political rallies, caucuses of, and continuous companionship with certain political candidates and/or political party in said political activities, causing the employee to be closely identified with such candidate and/or political party; Giving personal, financial, or other monetary contribution, supplies, equipment, and materials for the benefit of a candidate and/or political party; Utilizing government resources such as personnel including job orders or contract of service hires, time, and properties for political purposes. Those who will be found guilty of engaging directly or indirectly in partisan political activities will be meted with a penalty of one (1) month and one (1) day to six (6) months suspension for the first offense; and dismissal from the service for the second offense according to the 2017 Rules on Administrative Cases in the Civil Service or 2017 RACCS. The complete text of COMELEC-CSC Joint Circular No. 001, series of 2016 can be accessed from the CSC website at www. csc.gov.ph.

Wednesday, February 23, 2022 B7

Beat common cold with the all-new Sinutab

HEAD cold or common cold can cause even the most hardworking and dedicated people to feel limited and become unproductive. It is usually mild, but it can be annoying and debilitating at some point. Some of its most common symptoms include sipon (runny nose), baradong ilong (nasal congestion), and sakit ng ulo (headache)—or sipong baraulo. While these symptoms can weigh a person down,

the good news is that there are medically proven ways to keep a head cold at bay. “A head cold can be challenging especially if you have a hundred and one things to do in a day and there are people relying on you,” said the senior brand manager for Sinutab Philippines, Chili Perez. “With the all-NEW Sinutab® Cold Plus and Sinutab® Cold, you can easily rid yourself of sipong baraulo so you can power through your day-to-day tasks with ease and still be able to do other things that make you feel fulfilled and make your loved ones happy.” The all-new Sinutab from Johnson & Johnson (Philippines), Inc. is the only head cold solution with triple power formula that fights against sipong baraulo. It stops runny nose, clears nasal congestion, and provides up to six hours of relief from headache and body pain all in one go. With the all-new Sinutab Cold Plus, you can be your best self again in no time at all. And for no-drowse relief from sipong baraulo, there is also Sinutab Cold. Available in leading drugstores and online via the Johnson & Johnson e-Pharmacy in Lazada and Shopee.

Security Bank Foundation turns over its first school building in Caraga Region

Nestlé Philippines calls for development of markets to spur waste material collection

HE development of a market for waste recycling will help the Philippines achieve its environmental goals by offering rewards for the collection of materials currently deemed unrecyclable, the head of Nestlé Philippines, Inc. said. The company’s Chairman and Chief Executive Officer, Kais Marzouki, said at a virtual forum organized by the Makati Business Club that markets are essential, noting that materials that have recycling value routinely get collected and sent in for processing. “Let the market forces solve the problem… here in the Philippines we have the palengkes (wet markets) that collect (waste materials). Why do palengkes collect

plastic bottles? Because the plastic bottles have value. Somebody is happy to buy them back,” he said. “When it comes to our plastic laminates and flexible plastic, nobody is collecting these because they have no value,” Mr. Marzouki added. “The moment that you set up an industry that recycles packaging, for sure people will find value and will collect and bring it to the factory to get something in exchange for it and the industry will happily buy also recycled plastic,” Mr. Marzouki said. He called on the government to lay the groundwork for such markets via legislation and financing to the point where “the whole system can start running on its own.”

PRESENT during the turnover of two-story, eight-classroom school building donation to Agusan Del Sur National High School were (from left to right) Aaliza Tudle (Agusan Del Sur National High School General Parent Teacher Association President), Michael Ceniza (Security Bank San Francisco-Agusan Del Sur Sales Officer), Edwin Abuhon (Security Bank San Francisco-Agusan Del Sur Branch Business Manager), Hon. Solomon Rufila (Municipality of San Francisco Mayor), Marilou Curugan (Agusan Del Sur National High School Principal), Dr. Minerva T. Albis (Department of Education Agusan Del Sur Province Schools Division Superintendent), and Hon. Jonathan Albienda (San Francisco Agusan Del Sur Barangay 5 Chairman).

ECURITY Bank’s Corporate Social Responsibility (CSR) arm Security Bank Foundation Inc. (SBFI) donated its first school building in the Caraga Region with the turnover of a two-story, eight-classroom school building in Agusan del Sur National High School (ADSNHS) in the municipality of San Francisco, Agusan del Sur on December 15, 2021. “It is very moving to see the business sector invest in what really matters, our learners. Security Bank Foundation’s donation to the division is something

that will truly impact our community for many years to come,” said Dr. Minerva Albis, Agusan Del Sur Schools Division Superintendent. The school building was constructed during the pandemic and was aimed to prepare the school for the possible implementation of limited face-to-face classes. “Security Bank believes in the importance of helping communities grow. We are not just a bank that concerns itself with its clients but a bank

that adds long-term and tangible value wherever it may be,” added Security Bank San Francisco Branch Business Manager, Mr. Edwin Abuhon. Thus far, SBFI has donated 701 classrooms in 123 schools located in 69 cities/municipalities nationwide. This milestone coincides with Security Bank’s 70th anniversary celebration. To know more, visit www.securitybank. com/sustainability or Security Bank’s Facebook page at www.facebook.com/ SecurityBank.

BPI donates 94 computers to public schools in Muntinlupa

Zuellig Pharma Corporation supports booster dose rollout among the general population

MID the ongoing administration of COVID-19 booster doses, Zuellig Pharma Corporation, the official Philippine pharmaceutical partner of Moderna TX Inc., continues to urge the general public to get their booster shots to protect themselves against the evolving pandemic. Preliminary data from lab tests in a Moderna study showed that a 50-µg booster dose increased "omicron-neutralizing antibodies" by approximately 37-fold. Zuellig Pharma Corporation said that these reports are critical in enhancing public confidence in booster shots amid the national government’s recent decision to reduce the booster shot interval to 3-months after the second dose of a primary two-dose vaccine to better protect more Filipinos against the Omicron variant. The Department of Health (DOH) said that allowing the administration of booster shots for all fully-vaccinated Filipino adults 3 months after their second dose is part of the current strategy to mitigate the effects of the Omicron variant. This strategy is supported by recent studies showing that booster doses such as Moderna, Pfizer, and AstraZeneca offer better immune response against both Delta and Omicron variant. Recently, the DOH detected 1,153 cases of persons afflicted with the Omicron variant. The DOH also said that the Omicron Subvariant BA.2 or stealth Omicron has been detected in the country. DOH Undersecretary Maria Rosario Vergeire said that this variant is “predominant in most regions” in the Philippines. According to Dr. Philip Nakpil, Medical

Director of ZP Therapeutics, it is optimal to deploy additional protection to lessen the impact of future surges caused by new variants. “Zuellig Pharma Corporation is looking forward to supporting the country’s goal to deploy additional booster doses for added protection against the virus. With emerging threats of evolving variants and waning immunity, Moderna’s future-ready COVID-19 vaccine may help protect even the most vulnerable,” Nakpil added. Raymund Azurin, Senior Vice President for Corporate Affairs of Zuellig Pharma Asia Pacific, said they will continue to work closely with Moderna to ensure that more needed mRNA vaccines will be made available in the Philippines to fully support the government’s vaccination program. Currently, COVID-19 Vaccine Moderna is being administered as primary doses (first 2 doses and an additional third dose for immunocompromised individuals) and as booster doses; each vial of the vaccine can provide 10 primary doses or 20 booster doses. “The US FDA and the European Medical Agency (EMA) found COVID-19 Vaccine Moderna to be effective in enhancing and sustaining protection against the virus,” Azurin said. “As Moderna’s EUA holder in the Philippines, Zuellig Pharma Corporation and our commercialisation division, ZP Therapeutics will continue to collaborate with the national government and the private sector to procure and efficiently distribute more COVID-19 Vaccine Moderna for the general population, especially to those most vulnerable,” Azurin ended.

LIGNED with its sustainability push, BPI, through its social development arm, BPI Foundation, committed to donating 94 used but functional computer units to four public schools in Muntinlupa City. “One of BPI's key business priorities for 2022 and beyond is to champion sustainability. We believe that doing well by doing good is key to building a sustainable and better Philippines,” said BPI Foundation Executive Director Owen Cammayo. “This donation is also

our way of supporting our public school teachers and students by providing them additional access to online learning amid these trying times.” For the first leg, 26 desktops and two laptops were turned over to Poblacion Elementary School, which has 144 faculty members and more than 5,000 students, with most of them from relocated families. Dr. Dominic Idanan, the Muntinlupa Schools Division Superintendent noted that technology has become an important

platform for learning during this time of the pandemic. “These gadgets can help a lot and contribute to the quality education of our students,” he said. Meanwhile, the remaining computer units will be distributed to Itaas Elementary School, Muntinlupa National High School, and Pamantasan ng Lungsod ng Muntinlupa in the coming weeks. To know more, follow the Facebook and Instagram pages and visit www. bpifoundation.org.

AT TURNOVER RITES, FROM LEFT: BPI Director Ignacio “Toting” Bunye, BPI Foundation Executive Director Owen Cammayo, Poblacion Elementary School (POBES) Principal IV Dr. Raul T. Felix, Muntinlupa Schools Division Superintendent Dr. Dominico Idanan CESO V, POBES GPTA President Jackelyn Inople, and POBES Faculty President Milagros Barroga.

Patafa confident on Hanoi SEAG bid, but Obiena’s not on natl pool

HE Philippine Athletics Track and Field Association (Patafa) will field at least 50 athletes to the Vietnam 31st Southeast Asian Games in May but whether Asian men’s pole vault record holder will be in the association’s lineup or not remains a question mark. Patafa President Philip Ella Juico told the online Philippine Sportswriters Association Forum on Tuesday that the association is allowed to field as many as 63 athletes to the May 12 to 23 SEA Games in Hanoi but said that they are settling on 50 athletes. Juico said that they are looking at entries in 38 or 39 of the 44 events in the track and field competitions in Hanoi. He added that US-based athletes like Kayla Richardson, Kristina Knott, William Morrison, Natalie Uy and Eric Cray are in the thick of training for the SEA Games where they are the reigning champions. “Most of those who won the gold or silver are still around,” he said. “Most of them are in shape and have continued training. Juico, a former chairman of the Philippine Sports Commission (PSC), said the privilege to field more athletes hinged on the Patafa’s 11-8-8 (goldsilver-bronze) haul in the 30th SEA Games the country hosted in 2019. “We can maintain that [haul]. We can say that this is very ideal,” Juico told the forum presented by San Miguel Corp., Milo, PSC, Philippine Olympic Committee, Amelie Hotel Manila and the Philippine Amusement and Gaming Corp. The Tokyo Olympian Obiena, also the reigning SEA Games gold medalist, is not on Patafa’s national pool, according Juico. The world No. 5 men’s pole vaulter has unresolved issues with the association revolving around liquidation issues. “EJ Obiena is not on the national training pool list. We have to discuss that among ourselves in the Patafa board but he’s not in the list right now,” Juico said. “We have to look at his case if he wants to participate [in Hanoi],” Juico added. “He has said he will ask for help from others. Let’s see what works.” Juico also said that while Filipino athletes faced various difficulties caused by the two-year Covid-19 pandemic, the coaching staff made sure the athletes are in shape heading to the Hanoi Games. “We make do with what we have wherever we are,” said Juico, who was joined in the forum by Milo Philippines assistant vice president Lester Castillo, Patafa training director Renato Unso and Coach Jeoffrey Chua. “We cannot keep on complaining. We need to adjust. We are not offering excuses for any possible lapses in the competition.” added Juico. Castillo, meanwhile, reiterated Milo’s support to Patafa, including performance trials scheduled to begin on Thursday in Baguio City then in Imus, Cavite, and at the PhilSports Complex in Pasig City. The National Open is set in April.

Sports BusinessMirror

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ednesday, February 23, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

OUTH KOREA’S mission to get back at the Philippines in the second window of the International Basketball Federation (Fiba) World Cup 2023 Qualifiers won’t happen after one of the Korean players tested positive for Covid-19. The Koreans were expected to arrive on Tuesday night but the Korean basketball federation announced the team’s withdrawal on its website. The association said there’s a big risk that some of the other players are infected. Gilas Pilipinas Head Coach Chot Reyes isn’t happy at all about the Korean withdrawal. “Obviously, it throws a monkey wrench in our preparation because we have been preparing for South Korea

GAMES OVER

A child wears a face mask and carries the mascot Bing Dwen Dwen dolls as he walks by residents who line up outside a store selling official Olympics souvenirs as people sleep on benches next to cutouts of the mascot while waiting for their flights home at the Beijing Capital International Airport on Monday. The Beijing 2022 Winter Olympics ended with Sunday night’s closing ceremony. AP

LEVELAND—When the All-Star break ends, the stretch run begins. There isn’t much time left in the National Basketball Association (NBA) season. The All-Star weekend came at about the 60-game mark for teams, far beyond the midpoint of the 82-game schedule. It’s a sprint to the finish now, and the Brooklyn Nets and Los Angeles Lakers have to prove they have the legs to make a run. The Nets could have Kevin Durant and Ben Simmons on the floor soon to spark a surge. But the Lakers might be without Anthony Davis for more than a month because of a foot injury, putting a heavy burden on LeBron James. Injured and inconsistent, neither team is a sure thing to even make the postseason. Both have performed far below expectations, with the Lakers only 27-31. But poor play in the winter is quickly forgotten if a team warms up come springtime, just as the Milwaukee Bucks did last year. “As a team, we started playing good basketball towards the end,” Giannis Antetokounmpo said. “Maybe we can do it again. Who knows? We’re in a good place. We have a hell of a team.” The Bucks are actually only in fifth place, but that means little in the tightly packed Eastern Conference. Miami and Chicago are tied at the top, surprising Cleveland and Philadelphia are 2 1/2 games back and Milwaukee is just percentage points behind them. There’s more separation out West, where Phoenix has pulled away to a 6 1/2-game lead over Golden State by winning seven straight to run its record to 48-10.

NBA’S STRETCH RUN BEGINS

STEPHEN CURRY lifts the Kobe Bryant Trophy for his most valuable player performance at the All-Star game. AP

Even those teams have concerns, with Phoenix bracing for a lengthy absence for Chris Paul and Golden State still going without Draymond Green because of a back injury. The Nets hope their injury issues are almost over. Durant is nearing a return after missing a month with a sprained left knee ligament, though coach Steve Nash said he isn’t expecting the All-Star forward to be ready when they resume their season Thursday against Boston. Injuries are a part of every season, but the usual problems this season were compounded for some teams by the coronavirus. An outbreak within the Nets contributed to them deciding to bring the unvaccinated Kyrie Irving back part time even though he still can’t play in home games. The Atlanta Hawks lost nine of 12 games during one rough stretch in December, having to sign multiple players just to field a team while their regulars were out. They have been trying to climb out of that hole and are 10th in the East a year after reaching the Eastern Conference finals. “At one point it was crazy. Like, just going out there and not knowing

KOREA WITHDRAWS FROM QUALIFIERS J S By Josef Ramos

MVP badminton tourney unfurls with 34 players eyeing berths in national pool

for the past couple of days,” Reyes said. “But having said that we’d like to think that we built this team on versatility, agility was one of the very first things we talked about on our very first day of practice and how we really need to be prepared for whatever comes.” “What we’ve learned in this environment that we’re playing in now is that you can never really know what to expect and this is one such thing,” he said. “So right now, the best thing that we can do is to stay ready and be prepared physically and emotionally.” Reyes also said that his players are healthy. The world No. 33 Philippines is scheduled to open the qualifiers against South Korea (No. 30) on Thursday at 6 p.m. No. 80 India is next on Gilas Pilipinas schedule on

Learn from NBA All-Star YES, somebody forgot to tell Stephen Curry that the threepoint contest was on Sunday (Philippine time). In “anger,” he hacked out 16 triples on Monday.

Friday also at 6 p.m. and No. 27 New Zealand on Sunday at 7 p.m. Gilas and South Korea are scheduled to meet again on Monday at 6 p.m. All games will be played at the Smart Araneta Coliseum. The Samahang Basketbol ng Pilipinas (SBP), according to Ryan Gregorio, will wait for a formal announcement on South Korea’s withdrawal before tinkering with the schedule. Gregorio is SBP president Al Panlilio’s special assistant. Players from India and New Zealand as well as the Philippines are now in a bubble setup that covers the Big Dome and Novotel in Cubao. A team composed of cadets and coached by Tab Baldwin beat the Koreans twice—81-78 and 82-77— in the Fiba Asia Cup qualifiers last June’s in Clark.

That sensational feat did not only break the three-point record of Paul George’s previous best of nine threes in 2016 in National Basketball Association (NBA) All-Star history. It helped him score an astonishing total of 50 points. “I tried,” said Curry on trying to break the singlegame All-Star record of 52 points scored by Laker Anthony Davis in 2017. Nobody’s surprised, actually. Being the all-time leader in threes converted in NBA regular season of more than 3,000, Curry was always poised to set stunners from afar each time he’d suit up. Curry’s 50 points powered Team LeBron to a thrilling 163-160 All-Star win over Team Durant in the 75th season of the NBA (National Basketball Association). But LeBron James made the victory more dramatic by burying a fallaway jumper for the winning shot at the buzzer. LeBron’s semi acrobatic jumper from near the right elbow was a fitting icing to the cake as the sellout Cleveland crowd of 19,400 at Rocket Mortgage Fieldhouse let out a

ERON TENG and Alaska eye a fourth straight victory against NLEX as the Aces hope to intensify their playoff drive in the Philippine Basketball Association Governors’ Cup on Wednesday at the Ynares Sports Center in Antipolo City. For the Aces, especially to the 27-year-old former De La Salle star, their three-game streak is the result of a winning mentality they imposed on themselves since February 13 when Alaska Milk Corp. chairman Fred Uytengsu announced the team’s retirement from the pro league. “We want to end this conference with a bang, we don’t pressure ourselves to win a championship but we’re really motivated as well because this is our last conference with the Alaska Aces and we want to win as many games as we can,” Teng told BusinessMirror on Tuesday. The 6-foot-2 swingman averaged

any of your teammates besides two of them,” All-Star Trae Young said. “It was different, but like the world might not always, always see that and see the struggle early on and understand that’s the reason. So now that we’re here, we’re starting to pick things up and guys are getting healthy. It’s going to be good for us if we keep it going.” The play-in helps them. For the second straight year, the teams in the Nos. 7-10 spots will play for the final two postseason spots in each conference. Right now, both the eighth-place Nets and ninth-place Lakers would find themselves there. There’s still time to climb, but not much. AP

HE country’s top badminton players will figure in their first tournament in two years as the Manuel V. Pangilinan (MVP) Second Badminton Cup kicks off from Wednesday to Friday at the Olympic Badminton Center in Pasig City. A total of 34 players will compete in men’s and women’s doubles and singles. Besides finally getting the chance to play in a tournament, this will also be the first time Smash Pilipinas Head Coach Rosman Razak can evaluate the players as he selects his pool for the Vietnam 31st Southeast Asian Games in May. “Since I came here, this is the first time I can see the players play in a competitive setting,” said the Malaysian Razak, a two-time SEA Games silver medalist. “This is the first time they will play in this pandemic. The SEA Games is two months away and we still have time.” Competing in the men’s division of the tournament sanctioned by the Philippine Badminton Association are Alvin Morada, Ros Pedrosa, Rabie Oba-ob, James Villarante, Christian Bernardo, John Paul Pantig, Mark Anthony Velasco, Jewel Albo, Clarence Villaflor, Lance Vargas, Kenneth Monterubio, July Villabrille, Solomon Padiz, Joshua Morada, Jason Vanzuela, Robert Ishmael Ramos, Jefferson Oba-ob, John Michael Estrada, John Matthew Bernardo and Michael Clemente. Vying in the women’s division of the event backed by Smart Communications, MVP Sports Foundation and Philippine Sports Commission are Thea Pomar, Nicole Albo, Eleanor Inlayo, Jochelle Alvarez, Mikaela De Guzman, Sarah Barredo, Janelle San Andres, Anthea Gonzales, Susmita Angelique Ramos, Althea Fuentespina, Danielle Masongsong, Andrea Hernandez, Christel Fuentespina and Angel Valle. Matches in the first two days will be played from 6:30 a.m. to 1:30 p.m. The finals will be held on Friday starting at 4 p.m. The games will be streamed live on Smash Pilipinas Facebook page (https://web.facebook. com/pbasmashpilipinaspage). Sarah Barredo is one of the players to watch in the event.

Teng, Alaska try to extend win streak 14.3 points, 4.1 rebounds and 2.9 assists in their last seven games capped by a stellar performance of 30 points and five rebounds in Alaska’s 102-97 win over Terrafirma last Saturday that stretched the Aces’ win-loss record to 5-2. But Teng expects a tough NLEX squad coached by Yeng Guiao in their 3 p.m. matchup. “We know it’s going to be a tough game because coach Yeng [Guiao] is always motivated,” Teng said. “We also know that their import, KJ McDaniels, is really good so we have to play team defense to stop him. McDaniels is a beast with 30.8 points, 11.6 rebounds, 3.6 assists, 1.5 steals and 2.8 blocks averages in eight games for the Road Warriors who are sitting in fourth place a 5-3 record. Orlando Johnson, meanwhile, is

roar for the city’s favorite son. That mind-blower of a dagger would have easily made LeBron the All-Star MVP. I have always been partial to a guy scoring the gamewinner, making him almost as my automatic choice for an MVP award. My eternal reason is, if the marginal shot gets misfired, then the game goes to the opposing team. So, had LeBron flubbed the winning shot, would the MVP trophy named after the late Kobe Bryant have been still awarded to Curry? I doubt. Correct me if I am wrong but I have yet to see a player from a losing team receiving the MVP award. “I could not have dreamed of that moment, any better than the actuality that just happened,” said James of his game-winner. It was his fifth straight All-Star win as a team captain, coming as it did in a court near his birthplace Akron. LeBron, 37, was also in his 18th All-Star game to tie him

still expected to reinforce San Miguel Beer in the team’s game against Phoenix Super LPG at 6 p.m. although the Beermen’s third import, Shabazz Muhammad, already hit town San Miguel Beer Coach Leo Austria and team manager Gee Abanilla didn’t return calls or answered messages on Tuesday, but CJ Perez said that the 6-foot-2 Johnson still attended the team’s practices in Antipolo and Acropolis. “It’s the same normal practice with OJ [Orlando Johnson] around and we’re hoping to sustain our energy against Phoenix,” said Perez, who erupted with 23 points in the Beermen’s 110-102 win over Barangay Ginebra San Miguel last Sunday. The Beermen and Fuel Masters are both 4-3 won-lost. Josef Ramos

with Bryant, and moved one game shy of the record 19 held by Hall of Famer Kareem Abdul-Jabbar. Sharing All-Star honors with LeBron and Curry was the 6-foot-11 Karl-Anthony Towns, who won the three-point contest to become the first center to nail the event captured in 2021 by Curry (absent this year). If at all, the Philippine Basketball Association (PBA) could learn a lot from the recent NBA All-Star weekend, what with the NBA’s novel features and glitterati liberally bathing the occasion. The PBA’s golden anniversary is just around the bend, you know. THAT’S IT The Fiba Asia Cup qualifying windows start Thursday. Let’s not only cheer our Gilas players on as they battle India and New Zealand (South Korea withdrew because of pandemic reasons), but also, let’s give our all-out support to the tournament by showing up at the Smart Araneta Coliseum.

BusinessMirror

C1 Wednesday, February 23, 2022

Editor: Tet Andolong

Demand for residential homes outside Metro Manila will continue to grow By Rizal Raoul S. Reyes

growing number of Filipinos belonging to the highincome group and the lower income bracket have been buying properties for their homes outside Metro Manila since the start of the pandemic. In an online press briefing held on February 16, Santos Knight Frank senior director and head of research and consulting Jan Custodio said the development of several infrastructure projects is a major factor behind the emigration of people living in the urban areas to the suburbs. “Owning a second home has also risen in popularity among the highincome buyers in the suburbs, provinces and leisure destinations,” Custodio said. In a research conducted by the Santos Knight Frank, 4-percent rise in pentup demand for home acquisition. For location preferences, 40 percent chose suburbs while 33 percent said they preferred the city for their next home. Custodio said occupiers are increasingly considering models such as “Hub & Spoke,” which decentralizes offices to bring them nearer to employees. Tenants are also spreading out their offices to more than one city as a business continuity strategy against the negative impacts of localized lockdowns and natural events, as seen in Typhoon Odette in 2021. “The workers will just go to the spokes to do their work which ensures their safety and health,” Custodio said.

Great choice for second home Horizon Terraces Garden Villas, a

Horizon Terraces has allocated over 70 percent of its land area to recreational garden space

Model house in Bria Homes Magalang in Pampanga

prime residential and recreational enclave in Tagaytay Highlands, is one of the great options for the high-income bracket looking for a second home. Residents are going to enjoy open spaces as Horizon Terraces has allocated over 70 percent of its land area to recreational garden spaces. “ The development is an ideal alternative primary home for families looking to reboot and re-energize, post-pandemic. Still, while the health situation in the metro remains f luid, families will find Horizon Terraces a safe haven to stay,” , the company told the BusinessMirror. Horizon Terraces Garden Villas offers three-bedroom townhouse units of 136 to 168 square meters. Each cluster of villas is made up of only seven units, ensuring utmost privacy and security for residents who may stay “ isolated ” while enjoying the picturesque outdoors through their homes’ open-f loor plans. Horizon Terraces encourages resi-

Manila’s major event place feted abroad By Roderick L. Abad

TILL bringing honor to the country amid the tough times, the World Trade Center Metro Manila (WTCMM) won the “MICE Venue Award ” in exhibition category at the recent 2022 Association of Southeast Asian Nations (Asean) Tourism Standards Awards held in Cambodia. A ccord i ng to W TC MM P resident and Chief Executive Officer Pamela D. Pascual, their company is proud of this new milestone while the entire meetings, incentives, conferences, and exhibitions (MICE) sector continues to face the impact of the ensuing Covid-19 pandemic. “The Asean Tourism Standards Award comes at a perfect time when the industry has suffered tremendously in the past two years and is now eagerly anticipating a comeback in 2022,” she told the BusinessMirror in an e-mail interview. Undertaken by all the 10 memberstates of the Asean, this regional event is an initiative that encourages stakeholders in respective countries to enhance more of the standards of sustainable tourism services. This collaborative effort is also aimed at sustaining the goal to make the region known worldwide as a “Quality Single Destination.” WTCMM bagged the award for garnering top ratings in major criteria that evaluated its exhibition halls and meeting room facilities to be compliant to global standards. These include environmental

The Santos Knight Frank team (Top, from left); Morgan McGilvray, senior director, occupier solutions and services; Rick Santos, chairman and CEO Santos Knight Frank; Jan Custodio, head, consulting and research; Monica Gonzalez, data centers lead and manager, occupier solutions and services; and Kash Salvador, head of investment and capital markets

adherence related to improvements and upgrades in technologies such as shift to automated LED lights and motion sensors, and introduction of photocatalyst in air handling units and energy recovery ventilators to achieve quality air supply in its exhibit halls and function rooms; as well as implementation of proper waste management, including toxic and chemical substance disposal via Department of Environment and Natural Resources-accredited TSD (treatment, storage, disposal) facility, and noise pollution control through management of noise levels, among others. “Recognizing the operating standards that WTC Metro Manila upholds is a validation that the improvements that we have done in our systems and processes comply with international standards and this is ultimately one of the important ways to restore confidence among stakeholders that the venue that houses their exhibitions and conferences is compliant to the new standards in preserving good health and welfare of everyone that walks through its halls,” Pascual said. Established in 1996, WTCMM is a pioneer in providing a world-class exhibition venue in the Philippines that ser ves huge international and local exhibitions and events. It is a premier accredited member of the World Trade Centers Association headquartered in New York, USA, and the only exhibition venue in the country recognized by and now a member of the Union des Foires Internationales.

dents to pursue an active lifestyle by providing facilities such as sports facilities, resort-inspired swimming pools, specialty restaurants that serve various cuisines and gourmet delights, and the Tagaytay Highlands Country Club. World-class championship golf courses are also part of the exclusive benefits enjoyed by Tagaytay Highlands homeowners, their families, and their guests. The Department of Human Settlements and Urban Development recently cited Tagaytay Highlands’ developer Highlands Prime Inc., a subsidiary of SM Prime Holdings, as one of Calabarzon 2021 Outstanding Developers for Open Market Projects.

Impact of infrastructure development The government’s big push on infrastr ucture development has enabled a lot of people to move with greater mobility. W hen the pandemic hit the country and a lot of businesses imple-

mented the work-from-home model, many workers decided to move to their home provinces for health, safety and psychological reasons. The presence of major affordable housing developer Bria Homes in Central Luzon has allowed regular workers to settle in the home province and own their dream house simultaneously. Bria Homes Division Head Eduardo Aguilar said owning a house serves not only Filipinos’ basic need for shelter but also their aspirations for a stable future. He cited Bria Magalang in Pampanga wherein property values in this project have appreciated by an impressive 28 percent. “In just a single year, houses in Bria Magalang that sold for P1.4 million per unit have now increased in value to P1.8 million,” Aguilar told the BusinessMirror. Like Bria Magalang, Aguilar said all other Bria developments have access to major economic centers as well as essen-

tial destinations like schools, hospitals, and retail hubs to ensure homeowners are always within reach of everything they need to live a fulfilling and comfortable life. “Year on year, we continue to expand our property portfolio and improve our services, which means greater value for every consumer moving forward,” Aguilar pointed out. Santos Knight Frank Chairman and CEO Rick Santos said the demand for residential housing outside Metro Manila will continue to grow because of restrictions and the development of infrastructure projects. The hub and spoke model, according to Santos, will also drive growth to the residential market outside Metro Manila. “Better connectivity will also boost demand for homes outside the cities as people will become more productive in their work.”

Growing firms to seek out office spaces in BGC

ustained demand from IT-Business Process Manufacturing (ITBPM) firms, multinationals and expanding companies have minimized rent f luctuation in Bonifacio Global City (BGC) despite Covid and its mutations, according to studies by Leechiu Property Consultants (LPC). BGC tenants are holding on to their spaces indicating their long-term confidence that things will eventually work out notwithstanding work-from-home arrangements and other difficulties of the moment. LPC brokers who closely watch for space availabilities in this district have even received inquiries for penthouse spaces signifying strong business optimism from those drawn to the area. Consequently, BGC developers like Alpha Plus Property Holdings Inc., owner of the highly visible 32-story Ecoprime tower on the corner of 32nd and Ninth Avenue, are confident that Metro Manila’s 18 percent vacancy across all business districts will be temporary. More so because Peza spaces in BGC are currently registering a minimal 4 percent vacancy. BGC buildings with available Peza space like Ecoprime continue to be sought after by IT-BPMs and firms that have sustained revenues during the pandemic due to their size, ability to make the most of opportunities or both. LPC Executive Director for Investment Sales Henry Cabrera relates that the largest concentration of multinationals is now in BGC with many having migrated from older buildings in Makati to newer ones in Taguig like the LEED Gold certified Alpha Plus development which has a superior air filtration system. “There are only two Peza accredited buildings in BGC available right now that can offer

10,000 sq m or more of contiguous space, and Ecoprime is one of them.” Interest in BGC buildings has further been primed by infrastructure projects set to vastly improve accessibility to the district including the BGC-Ortigas Center Link Road. The government project partially opened with the completion last year of the Santa-Monica Lawton bridge. When the Lawton Avenue-Global City viaduct component is finished, the Link Road will improve mobility even more between Taguig and the Pasig-Mandaluyong area. The Metro Manila subway for completion in 2027 will also connect BGC to key points of Metro Manila from Valenzuela

to Ninoy Aquino International Airport Terminal 3 in under an hour. All these factors have kept BGC office towers like Ecoprime, now offering 15k sq m of contiguous space suitable for large tenants, attractive business destinations. The high level of commercial activities, residential options, cultural, leisure and other offerings of BGC keep it attractive not only for employers but also for employees. Cabrera discloses, for instance, that employees living with their families on the weekends in outlying metropolitan areas will deliberately look for jobs in BGC because of the work-life balance available there. Many employees in their 20s and early 30s are now populating BGC’s coliving spaces or dorm-like accommodations where they stay weekdays. They would rather pay rent for co-living accommodations so they can socialize after hours and avoid long, costly commutes. Employed newly-weds and starting families may also opt to seek work in BGC because of the range of residential options and after-work life available to them there. “BGC has limited new office space supply coming in the next three years and demand will continue to grow as we recover from the pandemic,” according to Cabrera. For this reason, tenants attracted to the district’s top grade office spaces like Ecoprime will keep it robust and lively. Ecoprime is designed by Miami based firm, Arquitectonica. It has efficient floor plates, 11 high-speed elevators and 2x4 meters double glazed low E floor to ceiling glass panels. Its in-house property managers ensure that the leading-edge office tower will remain efficient and attractive to tenants.

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Wednesday, February 23, 2022 | www.businessmirror.com.ph

Creba calls for relief from zonal value, property tax hikes By Roderick L. Abad Contributor

HE Chamber of Real Estate & Builders’ Associations, Inc., (Creba) has petitioned for the suspension of Department Orders that call for the increase in the zonal values of properties nationwide amid the Covid-19 pandemic. In a letter to Finance Secretary Carlos G. Dominguez III, Creba said while the government had implemented fiscal measures to jumpstart the country’s economic recovery, the lockdowns had contracted the country’s revenues to an all time low. The group added that the construction and real estate industries continue to be on a downward growth trend as many buyers, whose livelihood have been severely affected by the pandemic, are defaulting on their property purchases This leaves developers, sellers and banks with no other recourse but to absorb the losses. Low demand has stunted property prices despite increased inflation, while cost of construction materials constantly rise making it even harder to continue doing business, it added.

Status quo

Creba National Chairman Charlie A. V. Gorayeb called for Dominguez to preserve zonal values of properties

across the country at their pre-pandemic levels to reflect the actual valuation of property amidst the pandemic. He said that this would also enable developers and property owners to keep expenses related to payment of taxes at a reasonable level. Moreover, Creba renewed its earlier appeal for the freezing of real property taxes (RPT) for a period of at least two years, and that no additional property-related taxes be imposed at both national and local government unit levels. Per Creba National President Noel Toti M. Cariño, taxes paid by developers comprise the cost of production that are ultimately passed on to home buyers. He noted that freezing RPT will support the millions of homeless Filipinos and boost their capability to avail of decent housing packages, made more urgent by the global health situation. “Practically all sectors, during these tough times, are extending temporary administrative relief which can alleviate some of the pressures on the real estate, housing and construction industries as well as many property buyers who are adversely affected by this pandemic,” Creba said. “After all, a robust property industry will be vital in our collective efforts to recover from the wide-ranging economic effects of Covid-19,” the two leaders said.

PHL economic recovery to push real estate sector rebound T

HE improving business climate and the government forecasted growth this year is expected to support the property sector’s rebound over the next 12 months. This is what Colliers shared in its February 15, 2022 report titled “Primed for turnaround: Property on rally as economy reverts to recovery.” Colliers is a leading diversified professional services and investment management company. With operations in 64 countries, Colliers’ 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. According to the report, manufacturing and construction, including infrastructure implementation, were the main contributors to the country’s economic rebound. Reports indicate that the Philippine economy expanded by 5.6 percent in 2021.

Eased restrictions

The imposition of Alert Level 2 in the latter part of 2021 also helped increase consumer spending. “In our view, the improving business and consumer sentiment should also buoy the property market, especially the office and residential segments. Developers should remain strategic with their landbanking initiatives as they in-

tend to capture pent up demand for offices, residential units, retail spaces and industrial parks and facilities beyond 2022,” the report said. Remittances from Overseas Filipino Workers (OFW) are also expected to drum up demand for houses and condominiums. In November 2021, OFW remittances reached P1.6 trillion, a 5.3 percent increase in the same period in 2020. This year, the Bangko Sentral ng Pilipinas (BSP) estimates that remittances will grow by four percent. “Colliers believes that the growth in remittances should partly buoy take-up for vertical and horizontal units within and outside Metro Manila and support retail spending,” the report said.

Office space

Looking at the various property segments, Colliers noted that office deals in 2021 reached 422,400 square meters, an increase of 18 percent from 357,400 square meters in 2020. Traditional tenants (companies in various sectors such as legal, engineering and construction, government agencies and flexible workspace operators) made up the bulk of office space absorption followed by outsourcing firms. Most of these companies took up spaces in Ortigas, Makati and Fort Bonifacio.

Many companies are already preparing their back to office plans and these should sustain take up over the next 12 months. “In 2022, we expect traditional and outsourcing occupiers to lead absorption in the capital region. Outside Metro Manila, we project a sustained demand in Cebu, Pampanga and Iloilo,” Colliers said.

Residential segment

In the residential segment, the year 2021 saw the completion of 8,731 condominiums, a 159 percent increase from the 3,370 units delivered in 2020. These new units are located in the Bay Area and in Fort Bonifacio. A drop, however, was noted in condominium pre-selling in Metro Manila. While around 27,000 new properties were introduced, only 12,000 were taken up. For house and lots, Colliers noted that more Filipinos were looking for projects outside of Metro Manila. Among the popular locations were key urban areas in northern and southern Luzon including Pampanga, Tarlac, Bulacan, Cavite, Laguna and Batangas where residential projects are between 86 percent to 97 percent sold as of the end of 2021. “Colliers believes that a steady inflow of remittances from Filipinos working abroad should help

sustain take-up for these horizontal projects beyond 2022,” the report said.

Retail

On the retail side, Colliers projects between now and 2024, there will be an annual completion of about 357,900 square meters of new leasable space as there are developers who are optimistic that the rebound in retail demand will go beyond 2022. The malls that are likely to be completed over the next three years include Mitsukoshi Mall, Ayala Triangle Retail, Greenhills Center Expansion and Parqal Mall. While Colliers was optimistic that the property sector would rebound this year, the company advised that stakeholders should look out for rising interest rates; implementation and direction of infrastructure development; decentralization beyond Metro Manila and the approval and implementation of policies that improve the business climate. “In our view, office landlords and residential developers should remain agile and be mindful of the economy’s recovery prospects beyond Covid-19. Developers should be more strategic with their landbanking initiatives if they are to capture pent-up demand,” Colliers concluded.

Property sector seen to recover in 2022

the midscale segment improved with rent inching up to P770 per square meter while upscale and luxury registered higher vacancy with rent around P1,029 per square meter. Overall prices registered mixed performance with increasing prices for ready for occupancy (RFO) properties in the midscale and luxury segments, decreasing price for preselling midscale and an increase for pre-selling luxury.

Hospitality

HE country’s real estate market is expected to move with cautious optimism this year following the performance in leasing activities in 2021. While the market sentiment has been improving, outlook remains mixed.

A new supply or significant supply expansion is also expected this year in office, retail, hospitality and residential properties which will all have a significant effect on real estate market performance. A leading professional services firm that specializes in real estate and investment management and has been operating in the Philippines since 1997, JLL covers notable trends in 2021, shares their forward views on the real estate landscape in 2022 as well as highlights sectors that will define the real estate landscape in 2022.

Office market

In the first half of 2022, JLL expects the office market to stabilize but might experience subdued leasing activity in the first half of the year. For the 4th quarter of 2021, there was a moderate take-up of 75,713 square meters in gross leasing volumes. While the number is lower than the previous quarters, there is still improved sentiment in the market, with compliance concerns, rightsizing, and halt in vacancy uptick as key factors for the 4th quarter figures.

In terms of elections, JLL sees that leasing activities may slow down in the first half of 2022 as more investors and occupiers postpone their leasing decisions as they wait and see where policies might change. The IT-BPM (Information Technology and Business Process Management) industry remains a key driver (62.5 percent take-up in 2021 compared to corporate occupiers with 36.6 percent take-up), specifically those that cater to the healthcare, financial services, and e-commerce and engineering domains. Office move-outs and rightsizing also slowed down in the 4th quarter and occupiers have settled their short-term position and not considering long-term commitments. As it stands, companies are still evaluating what the future office spaces would look like. However, one thing remains certain according to JLL: There’s more acceptance of a hybrid work model across occupiers. This means they are open to having a percentage of their workforce work remoted.

Retail

The retail sector is expected to sustain positive performance carrying over from the 3rd quarter of 2021. More stores have opened as they took advantage of the holiday season. Store openings have outpaced closures, with a huge chunk of that coming from IKEA opening 65,000 square meters of retail space. However, there are still some closures, around 10,000 square meters but more than half of that are relocations and renovations as retailers refresh their stores and prepare for expansion. The top retail categories that are driving store expansions are food and beverage (26.6 percent), followed by home appliances and furniture (21.5 percent). Other retail categories driving expansion include beauty and wellness (13.9 percent), clothing and apparel (10.1 percent) sports and fitness (5.1 percent) with both foreign and local brands expanding their presence in Metro Manila. Rentals are also declining, and this has helped prop up mall occupancy. Flexible terms are

continuing with mall operators continuing to provide discounts in rental for occupiers.

Residential

A significant easing of the vacancy rate in residential condominiums (from 6.8 percent to 5.1 percent) was noted due to the relaxed restrictions and higher return to office in the 4th quarter. The return to office has led to the increase in demand from professionals working in the business hubs, who may have reactivated their leases or are looking for accommodation near their workplace. In terms of vacancy levels,

The holiday season drove up hotel occupancy to 87.9 percent in the 4th quarter due to lower COVID-19 cases, relaxed restrictions, and pent-up leisure demand. This is the highest rate of hotel occupancy during the pandemic. In terms of facility types, quarantine facilities continue to lead the way at 92.8%, followed by multi-use hotels (servicing quarantine and non-quarantine guests) at 85.6%, and leisure hotels at 79.4%. There is also a significant increase of operating facilities in the mid-scale segment as multiple hotels took advantage of the holiday season and the demand of staycations. Overall room rates continued to increase, with the 4th quarter showing a six percent quarter on quarter. Higher room rates were also seen across segments (midscale, upper, and luxury), except for the economy segment, which has a competitive market in terms of demands for discounts in room rates. For further information, visit jll.com.ph or email ph.enquiries@ ap.jll.com.

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www.businessmirror.com.ph | Wednesday, February 23, 2022

Housing sector on track for rebound amid pandemic—SHDA

By Roderick L. Abad Contributor

avoid contracting the deadly virus. To observe health protocols like maintaining physical distancing, some have to acquire their own place, especially those who are sharing a small space with their families. Others opt to have their own place near their place of work so that they will not have to travel far.

HE Subdivision and Housing Developers Association, Inc. (SHDA) reported that the housing sector’s performance has improved over the last couple of years and the positive outlook will continue amid the ensuing Covid-19 pandemic. SUD & Partner-Developers: Paving the Way Forward for Vibrant Housing Industry,” last February 16.

UNSPLASH.COM

According to SHDA National President May P. Rodriguez, the growth in the residential segment of the real estate industry declined in the initial period of the health crisis but then slowly recovered. “In 2020, all of the private developers [experienced a] downward trend. So sales were not as good [as before the health crisis] and collections were really a challenge,” she said during the SHDA’s first online Kapihan with the Department of Human Settlements and Urban Developments (DHSUD), entitled "DH-

Leasing category

Loss of jobs

She attributed this to loss of jobs, forcing some of their clients to skip their monthly amortizations. This also forced potential buyers to forgo the opportunity to purchase a house as there was also a shift in their priorities. “But fortunately towards the end of 2020 and in 2021, I think, a lot of developers would say that

they are able to recover but not yet to the level of the pre-pandemic. So I think we can say maybe developers in 2021 did about 50 percent to 75 percent of what they were doing before the pandemic. And the outlook is it will continue to improve,” Rodriguez noted.

Notwithstanding the impact of the coronavirus on the real estate industry, she emphasized that the many are still interested to invest in the housing sector under the “new normal.” Based on their consultations with their buyers, she bared that

most of them found that they need to own a house due to many factors.

Work from home

One of the many reasons why they want to own a home is that hey have to work from home or just stay indoors during lockdown periods to

The house for sale segment is not the only segment that has performed well. Rodriguez pointed out that the leasing category is also doing equally well. “I think we can say that rental properties are also thriving,” she said. “Currently, we know there are a lot of rental properties out there, and those who are working are the ones who are renting these so that they don’t need to commute, they’re near their place of work.” This holds true also to students who are coming from the provinces and would like to study in Metro Manila. “I think the dormitories that we have in the schools are not enough. So their option is to really rent,” said the SHDA president. “There’s really a market for the rental housing on the side of private sector.”

TAFT PROPERTIES The Gaisanos’ successful retail-to-real estate breakthrough

Artist’s Perspective of Solaya Lipa Street View

F you’ve been down South, chances are you’ve been to a mall or a store named Gaisano, the brand of more than a hundred outlets that have grown close to the heart of Filipinos. And grown it has since the brand’s predecessor, the White Gold Super Store, was founded by Doña Modesta Gaisano in Colon, Cebu, in the 1970s. The 50-year longstanding and trusted brand has broadened its horizons as the second-generation Gaisanos have broken through retail, venturing into real estate development through the Vicsal Group of Companies, the same company that brought the Metro Gaisano chain of stores. Taft Properties is the Gaisanos’ brand of real estate. It has set a firm foothold in the development market, with six major developments and counting—in Cebu, Laguna, and Manila—in Premium Places, Cozy Spaces, or Microtownships categories. Taft Properties has set its eyes on yet another cozy space, the Symfoni Kamias Two, a successor to the warmly received first tower, Symfo-

ni Kamias. Located in Quezon City, the two vertical dwellings are only 45 meters apart. Now on its pre-selling phase, Symfoni Kamias Two is perfect for the upward mobile market. A pet friendly vertical community with a mini pet part at the roof deck, it offers a host of amenities including a stunning lobby, swimming pool, pool deck and lounge, fitness gym, 24-hour security, Wi-Fi access in select areas, commercial spaces at the ground floor, and a host of essential features. Giving extraordinary attention to details inside the home, Taft Properties’ signature Crafted Comfort comes real in Symfoni Kamias Two: lower, illuminated light switches for easy reach, built-in

USB outlet for charging, lever-type door handle and key card access, and other small details that make for a relaxed in-house experience. Solaya Lipa is Taft Properties’ newest House and Lot project. It will soon capture the hearts of Batangueños as well as those who love the picturesque Lipa and the breathtaking sites and scenery that surround the city. Solaya is within easy reach to leisure locations in and around the province of Batangas, and minutes away from markets and shopping areas, medical centers, and schools. Culturally named Sinta, Mutya, or Hiraya, Solaya’s singledetached or attached dwellings are shaped and modeled for the modern Filipino family about to mark the beginning of a fruitful future. Lot investments in Solaya are made available for future homeowners too. Solaya also bears the signature Crafted Comfort: a multi-purpose bench outside each dwelling for catching some sun or enjoying the view, and doubles as a sanitation bench for groceries or delivered parcels before bringing them inside the home; and all others that have

Artist’s Perspective of Symfoni Kamias Two Facade

become standard to Taft Properties’ House and Lot developments, such as toddler handrails, lower light switches, bidet attachment, and many more. Steadily rising since 1993, Taft

Properties continues to create simple yet fine dwelling communities for the Filipino family. Visit our sales office at the Ground Floor of Symfoni Kamias, K-J Street, Barangay Kamias,

Quezon City or call/text at 09180814486; and Taft Properties Lipa Sales Office at Big Ben Courtyard 8, Pres. Jose P. Laurel Highway, Brgy. Mataas na Lupa, Lipa City, Batangas or call/text at 0997-1736439.

AMID A HARVEST OF AWARDS, YOUR SUPPORT COUNTS MOST

HE pandemic tested the media industry, forcing newsrooms around the world to overhaul the way they do their job while following strict health protocols in order to survive a deadly infection. The BusinessMirror, the country’s premier national business daily, was tested like everyone else, and survived, even continuing to live up to its promise to provide a broader look at today’s business. In November 2021, the business broadsheet was recognized as the “Business News Source of the Year” for 2020 by the Economic Journalists Association of the Philippines (Ejap), the country’s premier organization of business reporters, editors and wire agencies. It was a 4-peat for BM, having gotten the same honors for the years 2017, 2018 and 2019. And, as in the past Ejap awards, it also swept half of the individual categories, with its seasoned reporters adjudged as best in their respective coverages. Earlier in 2021, the BusinessMirror was given the Pro Patria Award by the Rotary Club of Manila, for “its commitment of valuable resources for the protection of free expression and its resilience in disseminating fair and truthful information resulting in an informed and enlightened citizenry.” It was just the latest recognition from the prestigious Rotary Club, which named it “Business Newspaper of the Year” for 2018-2019, and again in 2020. In all, it has received six top

Rotary journalism awards in its short 16-year existence. The BusinessMirror has also consistently reaped top awards in the Brightleaf Journalism Awards for Agriculture and the Philippine Agricultural Journalists-San Miguel Corp. (PAJ-SMC) Binhi Awards, also for the best in agriculture journalism. The BusinessMirror was also repeatedly adjudged the leading daily in biotechnology journalism, a recognition bestowed by the Jose G. Burgos Jr. Biotechnology Journalism Awards. The “broader look” mantra also drew recognition from the Philippine Statistics Authority (PSA) which named the BusinessMirror, at its first awards rites in 2018, as the inaugural “Data Champion.”

In the first “Bantog Science for the People” awards for media from the Department of Science and Technology, the BusinessMirror got the top award for the Institution category for Print; and the grand prize in the individual category for science journalist Stephanie Tumampos. In 2018, Environment Reporter Jonathan Mayuga received the Luntiang Aligato award from the Climate Reality Project, a nonprofit organization founded by Nobel Laureate and former US Vice President Al Gore. The Broader Look at biodiversity was also recognized. It was named among the Asean Champions of

Biodiversity, for the Media Category, by the Asean Centre for Biodiversity. The Broader Look also extended to the paper’s corporate social responsibility. It organized and staged the first-ever recognition rites for the best of the Philippines’s friends in the world, with the “MISSION PHILIPPINES: The BusinessMirror Envoys & Expats Awards.” The initiative won a Gold Anvil in 2019. Distinguished institutions in government have also repeatedly recognized the BusinessMirror’s role in spreading the word about the work they do—information that shines a light on good governance and committed public service to uplift people’s hopes. Most notably, these are the Social Security System and Pag-IBIG Fund. Sixteen years, two of them in a pandemic, have tested the promise of a Broader Look. But they are also a measure of the unstinting support of friends—advertisers and news sources alike—and readers who continue to believe in that promise.

THANK YOU, EVERYONE. YOUR LOVE AND SUPPORT IS OUR MOST IMPORTANT TROPHY.

BusinessMirror A broader look at today’s business